Evening Star Newspaper, June 28, 1923, Page 29

L3 I FINA HOPE TO ADVANCE PRIGES OF SUGAR Canning Season Approaching Peak—Supplies Below Many Estimates. BY J. C. ROYLE. Bpecial Dispateh to The Star. NEW YORK, June 28.—Efforts to advance the prices of refined sugar } above the present levels are expected 4 tons and 3 Yn the near future, according to a consensus of opinion today ~from dealers, traders, producers and re- finers here. There is little likelihood, these men declare, that prices for re- fined sugar will drop below present quotations, whilg there is an excel- lent chance tbat they will leap up- ward when the canning season gets into full swing. The grinding of the Cuban sugar cane crop now practically has been wompleted. Only one or two mills— or centrals, as they are called—still are in operation. Accurate estimates based on the actual production of the majority of the 182 plants which op- erated in Cuba this year Indicate that 11 total between 3,050.00) 0,000 tons. This total is far below the e mates made by leading experts last December. The highest amount at that time wa estimated by Himely, expert of the Federal Sugar Company. who set his figure at 4,100,000 tons. prediction was 3,600,000 de by the Cuban secretary of agriculture. Most of Crop Sold. Cuba bas already sold the mafor portion of the 1923 crop at excellent o About 1,250,000 tons, hows o be sold and the excellent financial 1d these stocks for higher \ prevail at present. ars are well stocked u trade” that is, the canners, packers, usrocers and _distributors have not yet begun to buy heavily. They have held off luter than usual in the hope that threats of boycott or other factors might bring prices down. However, the canning season Is now getting under way and it is ex- pected that the trade will begin to flll its requirements shortly. ~As the refiners have already paid pretty high prices on the whole for their raw sugar and face the prospect of equally high figures for further purchases, they are expected to at- tempt to mark up their own prices on refined sugar when the demand becomes pressing, although refined prices have almost doubled since the first of 1922, Live Stock Uncertain. Live stock conditions are viewed from iwidely different angles in vari- ous sections of the county at present. J. W. Scheuber, vice president of the Drovers Cattle Loan Company at Kansas City, asserted today that there was more live stock liquida- tion in southwestern live stock circles than for many months, but range trading was at a standstill. This, he asserted, was due to lack of . contidence. ), “The cow has not the range \'alxa e but /today that a calf had last fally" added. “Despite the lack of trading, however, live stock {s In good condi- tion, as’ cattle have not yet begun to show the effects of the drying up of the ranges. Cattlemen of the plains are spaying their helfers and aged cows are going to market from nearly every section. At this rate, which does not argue well for breed- ing and replenishment of herds, the cow will have a much higher value &nd will be in greater demand at a not distant date.” Live stock producers in the middle and northwest and far west are greatly encouraged at the higher prices for cattle in the various mar- kets, according to reports from Chi- cago. The price of $11.50 per hun- dred for prime steers in Chicago is believed to have indicated still high- er prices for well conditioned stock, growers assert. Ranch land values are.improving and bankers said to- day there was a better sentiment }with regara to cattle loans. Fight Further Wage Increases in St. Louis Special Dispatch to The Star. ST. LOUIS, June 28.—The St. Louls real estate exchange is supporting the Contracting Plasterers’ Assocla- tion in the refusal of the latter to pay plasterers an increase from $1.50 t0 $1.75 an hour. This refusal caused a walkout of 350 men. Hod oarriers for plasterers are out, demanding an increase from $1.12% to $1.25 an hou Steamfitters are asking an {ncreas from $1.25 to $1.40 an hour and help- ers a raise from $6 to 7 a day. Lumber Mills Do Best Business Since 1916 Special Dispatch to The Star. NEW ORLEANS, June ‘While the average weekly orders recefved by members of the Southern Pine Asso- olation have dropped from 76,000,000 feet to 55,000,000 feet within a month, the records for 100 of these mills show _that their production for the first five months of the year was the largest since 1916 and shipments the heaviest on record. During this pe- riod these mills produced 1.419,000,000 feet and shipped 1,648,000,000 feet. Prices recently have declined $3 to $§ & thousand, but are now steady. — SHORT-TERM SECURITIES. (Quotations furaished by Redmond & Co.) Aluminum Co, of Amer. Auminum Co- of Amer. Ty foes Te 1930, & Libby 7s 108 5.8, Co. ¥ Westinghouse E. a‘? M. s 1 U. 8. TREASURY CERTIFICATES. (Quotatiens furalshed by Redmond & Co.) Maturity— SRer Hivo ffia i s . l§%l‘ IE‘IC 100516 100718 0% 9 13- CHAICAGO, June 38.—Butter—Low- ereamery oxtras, 383 ; standards, ‘3- extra firats, 2614a37%; firata 34a35; seconds, 33a33%. \ Hgges—Lower; receipts, 16,761 cases; a2 I 208 NCIAL. NEW YORK CURB MARKET THE . EVENING Recelved by Private Wire Direct to The Star Office. BY WILLIAM F. HEFFERNAN, NEW YORK, June 38.—8tocks on the curb exchange moved with a good deal of indecision throughout the first hour Or 80 today. At times the selling, which had been prevalent on previous days of the week, was heavy enough to bring about further declines in a number of the active leaders. It was evident, how- ever, that professional operators were not meeting with the success which ac- companled their actlvities earlier {n the week. Following losses of a point or so in the active speculative favorites ef- fective support was encountered - ing prices back in many instances over ;n‘o_rl than the ground lost early in the . Active selling took place In Stand- ard of Indlana for a time, but the|were NEW YORK. June 28.—Following i an official list of bonds and stock: traded in on the New York Curb Ma ket today: Bates in BONDS. D Am Gas & Elec 6s... 03% 2Am Lt G0 w't war 101% 2Am T & T 6s 24 16 Anaconda 6s ... 7 Anglo-Am 01l Tigs.. 78 Ar & Co of Del 5% 1AtG&WISS Se. 47 Awsa Sim Hd'e 6% 8 Beth Steel 7s '35 4 Cit Serv 9 Cit Serv Con Gas By on Bal 1 Conw Textiies 8 . 3 Deere & Co T35 8 Detroft City Gas 6 1 Detroit Edison 0s.. 1 12 Dun Tire & Rub 7s 10 Federal Sugar 6s '33 2 Flsher Body 6s § Fister Body 6s 1 Gair Robt, Gulf Oil of Pa ,, 3 44 3 H H : Inter R T 8s Kennecot Libby Me Ohjo Power Js B.. Penn Pow & Lt bs Phila Blee 518 Pub Serv of N un Of1 witt & Co nited Ol Prod Bs.. S4% FOREIGN BONDS. 10 Argentina s 2 20 King of Nether 6a. 85 Mex 5 R CoamaBranciZicteunnasnteno %P EwwE s L] a R 4 Russ Govt 6las 82 Swiss Govt Oigs. 00 45 U 8 of Mexico 4s. 36% STANDARD OIL ISSUES. Pt S 10 Iiinols Pipe Ling 638 Imp Ol of Cun 40 Indlana P L . 5600 Inter Pet Cv, 90 Mugnolla el 100 Transit . 70 N Y Transit . 700 Ohio Ol new 165 Prairie Ol & 490 Prairie P L. 20 South Penn Oil 26500 8 0 Indy 30 Southern P L. 500 8 0 Kansas no 0 Kentueky ON Y new Ohio. .. uum Oil new .. NDEPENDENT OIL STOCKS. undreds 7 Ark Nat Gas 5 Barrington 041 . 7 Boston Wyo Oil . 1 Brit-Am_ 0il 6Ll 10% & 32 21 e 1 Brit-Cont Oil flelds 1 Cardival Pete .... 20 Carib Synd 435, Glties Bervice $1,000 Cities Service 10 Cit Serv B cfs 01, @ Interstate Roy 4 Kirby Pet. 0 Lafayette Oil. Lyons_ Py 18 Moun 5 28 Mutusl Ol voi ofs noek Oil . hillips Pot new.. 12 Royal Can O & Ref 2 Ryan Con . . 28 Wilcox Oil & Ga INDUSTRIALS. i American Cigar.... Am Qas & Eloc ptd. Am G & Bl new w i e 3 Bridgeport Mach wi 1 Brit-Am Tob cou 23 B odd 1088 14 Colo Pow & Lt. Curtiss Aero O & D 8 Cuba_Co. 3 5, frid fri] Tie Y Tiq Oul 6 Dubilter © Mo 4y a% .10 s in & Raglo Eo 1 Nat ther 3 Nat Hup Co af ‘Dol 2N ¥ Tel Co pfd. T Poerless . ¥ M 3 » =6 L, 2 o =3 g L Lt H 02 .38 04 ) 14 :E;: E S (0] % ns Cop Min tm cf Nev Utah. it STT TIWIETNE S PN ST - TSI TR T 23 § Goodyear conlln\lod“la stock failed to break through B§4. became general, sily. Im- pertal w: Tong spot Ohfo Ofl and Magnolia Petroleum were decidedly improved. Activity again came into Creole Syndicate following recent rumors of the consolidation of this company oll interests, but of “the stock was -little changed. Salt Creek Producers and Gulf Oil of Pennsylvania were others that were favorites in the upturn, Roamer Motors, the latest addition to the motor group, opened higher, and- with the exception of Cleveland other motor stocks were impr: L el the e fects of the pr ement in the tire indus One or two of the mining stocks which had been heavily sed for sale just before the close gain offered down, 14 Dolores Baper 480 "u"llhlhw 10 Goldfield Develo] Goldfield Doep B0 Goldfield Florent 10 Guldfield 20 Gold_Bta 20 H 31\ 17 Hols 3 Hecla Mine 2 Homestake Ext . Howe 8o ) Top Nevada nger 8 Niplssing Ohio Copper Ray Hercules Red Hill Flore Rex Cony 5 Salida Min : 4 St Croix Cons 1 60 Silver Queen Mines. . astern U U. Mines ... Cerde Exten 1d 1ne en Copper 20 West End Cons 70 West End Exten... 1 Yukon Alaska tr cf 28 s 2 Yukon Gold -1y i ———— FOREIGN EXCHANGE. Juse 28, 1923, (Quotations furnished by W. B. Hibbe & Co.) Nomloal Belling checks old Yalve. tofay | London, pound 4 Montreal, dolla Paris, franc h . peseta Vienna, erown Copeuhagen, cro Christiania,” crown Stockbolm,” crown Ry the Assoclated Press. NEW YORK, June 28.—Forelgn ex- changes easy; quotations (in United States dollars): Great Britaln, de- mand, 4.59%; cables, 4.59%; sixty-day bills on banks, 4.57%. France, de- mand, .0612; cables. demand, .0444%: cables, . ium, demand, .0522; cables, | Germany, demand, .000007 000007%. Holland, 3918, demand, .264813; Denmark, Switzerland, demand, demand, .1467%; .0318; Poland, de- .00000915." Czechoslovakla, de- 02991 Argentine, demand, Brasil, demand, ..1112; Mon- 97%. NEW YORK DAIRY PRICES. NEW YORK, June 28.—Butter—Un- settled; receipts, 22,429 tubs. Cream- ery. higher than extras, creamery, _extras stute dairy, finest . receipts, 27,060 cases. Cheese—Weak; receipts, 197,762 boxes. State, whole- milk, flats, fresh, fancy, 2414a26; do., average run, 34 state, whole milk, twins, fresh fancy, 24%a24%; do. average run, 24 Washington Stock Exchange SALES, ital Traction 5s—$1,000 at 961, $1,000 at Washington Rwy. & Elec. com.—2 at 67, 2 Washington Gas Light—10 at 48, 10 at 48. AFTER CALL. Metropolitan Rallway Bs—8$1,000 st 97. Capital Traction 5a—$1,000 at 96. Washington Gas Light—10 at 48, 10 at 48. The salo as of vesterday of Riggs National Bank 1 at 360 should have read, Riggs tional Bank, 1 at 630, Money—Call loans, § and 6 per cent. BONDS. Bid and Asked Prices. PUBLIO UTILITY. Bia, American Tel. & Telg: 4 Auked. 2. ds. 013 American Tel. & Telga. 4%: . Tel, 91 107 Washiogton Gas ‘Washington Gas T%s. Wash. Rwy. & Ble iw--n, Rwy. & Blec. 5. | MISCELLANEOUS. D. C. Paper Mfg. 6a. Riezs Realty b0 (long] | Bl Reel 08, (et Waen. Mt Cold S STOCKS. PUBLIC UTILIT' American Tel. & Telgt Capital Traction ‘Washington_Gas. Norfok & Wean TRUST COMP. American Seeurity & Trust. 1 Trus Merchants' Bank National Bavinge & Trust.. Union Tru Washington Losn & Truet.. SAVINGS BANK. 340 153 345 FIRE INSURANCE, Cojumbla Title... Real Estate.. MISCELLANBOUS. Columbla Gra) com. Graj | STAR, WASHINGTON CRUDE OIL OUTPUT STILL ON INCREASE By the Assoclated Press. NEW YORK, June. 28.—The dally average gross crude ofl production of the United States increased 3,600 barrels for the week ended June tl.t totaling 2,135,460 barrels, com- pared with 2,131,850 for the preced- ing week, according to the weekly summary of the American Petroleum Institute. The dally ave produc- tion east of the Rocky mountains was 1,350,450 barrels, as compared with 1,346,850, an increase of 3,600. California production was 785,000 barrels, the same as the previous week. 'Santa Fe Springs is reported at 268,000 barrels, against 275,000; Long Beach, 214,000 barrels, again 192,000, and’ Huntington Beach, 102, 000 barrels, ~~ainst 111,000. According to figures collected by the institute, imports of petroleum (crude and refined olls) at the prig- cipal ports for the end of June 23 totaled 2,010,000 barrels, a daily av- erage of 287,143, compared with 1,- 399,000, a daily average of 199,857 barrels for the week ended June 16. Reeeipts of California oil (crude ofl and refined oils) at Atlantlc and gulf coast ports for the week ended June: 23 totaled 1,356,000 barrels, a daily| average of 193,714, agalnst 1,038,000, a dally average of 145,284 for the| week ended June 16. ; CITIES SERVICE SECURITIES Bought, Sold, Quoted THOS. W. BRAHANY & CO. Investment Securities 510-11 Evans Building D. C | Continental Trust Company Capital One Million Dollars 14th & H Streets [T O T Y L T Don’t Wait Until July To Reinvest July is known as a reinvestment period because so many interest coupons, dividend checks and bond redemptions are made in that month. It is unwise, how- ever, to wait until your July funds are in hand before arrang- ing for this reinvestment. There are two advantages in making reservations with us now for reinvesting funds to you any time in July. 1. You avoid interruption of interest. On the day your old investment is paid your new one begins to earn 6%2% 2. You make certain of gotting the exact issue and particular requirements. Let us give you our Current Ofiefinp'mbookkt. Then tell us what you want reserved until July and we will hold i fotbruu without any deposit. ext moath you can take up your First Mortgage Investment for cash or on our Investment Savings Plan. Denommations : $100, $300, $1,000 Maturities: 2 years te 13 years Federal, State and D. C. TaxFree Features Call, wrwe or phone Mam 6464 today for our current offerings booklet e F.H.SMITH CO. Dounded 1873 First Investments Smith Building 815 Fifteenth St. D. C, THURSDAY Is Your Rental Property Producing the Best Results? RENTS Consult Us B.F. SAUL CO. 1412 Eye St. NN\W. Phone Main 2100 [ A“” Of Our First Mortgage Investments are placed on the most con- servative paluation; never has one of our clients lost as much as a single penny in either principal or interest. We collect and remit interest the day due, furnish insured title certificates. Can accommodate investors with amounts of $250 up to $5,000 or more, bearing 7% in- terest. “‘Jnvest in first mortgages and be safe.” Chas. D. Sager Loan Dept. } 924 14th S_t. 37 38 No loss to any investor in 50 years GUARANTY TRUST COMPANY BUILDING JUNE 28, 1923. o] Home Fumiture OANS on D, O. real estate, & ince Cot 1 Toom 211, 921 13th Bt, NW. Systew Copyrighted & Patent Pending. Secured by first deed of trust on real estate. Prevalling futerost and co» 50 Wakh. 1.8 Trust Joseph 1. Weller 8 N e EQUITABLE Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Save As You Earn. 1t you make up your mind to save systematically you will accomplish much in a financial way. Join the Equitable. Subseription for ti 85th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. NW. JOHN JOY EDSO! FRANK P. REESID) Reinvest Your Funds in s FIRST MORTGAGES The Safest Security on Earth Every mortgage is less than 50% of the ready market value of the property 5 1. Absolute Safety. 2. Reliable Security. 3. Liberal Income. 5. 6. lmuran.ce Agaiust Loss. Protection Against Depreciation. Prompt Payment of Interest. 7. Repayments of Principal in Full at Maturity. Convenient Denominations—Write or Call for Information WILLIAM S. PHILLIPS First Mortgage Investments 1409 N. Y. Ave. N.W. Main 4600 If You Believe in the United States, You Believe Washington! Per 7 Cent REAL ESTATE FIRST TRUST NOTES We recommend these notes as a thoroughly safe place for the July funds of the conservative investor. Notes $100 to $1,000 THE IDEAL INVESTMENT ALL 813 15th St. N.W. GILT-EDGE Main 2690 SECURITIES 7%, First Mortgage Notes Secured on Improved D. C. Real Estate 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. UR BOOKLET, “Investment Recom- mendations,” will serve you as a guide to the purchase of sound invest- ments for your July funds. It lists and describes numerous issues, of diversified types, including : Government bonds Municipal bonds Railroad bonds Equipment trust certificates Public utility bonds Industrial securities yielding up to 7% We shall be pleased to assist you in selecting investments especially suited to your requirements. A copy of *‘Investment Recommenda- tions” will be sent you on request. Guaranty Company of New York Office: 811 15th Street, N.-W. Phone Main 5815 3 FINANCIAL. &m 99 ¥ Our First Mortgages 100% Safe Since 1869 EXTREME safety for invested funds has always formed the foundation for our First Mortgage Notes. Every precaution necessary to assure complete protection of principal is covered by defi- nite safeguards, drawn from the wide ex- perience of over 54 years of succeasful investment service. Through more than half a century, every dollar of interest on Notes offered by us has been fully paid on the day due. Invest your funds in Swartzell, Rheem & Hensey Company Notes and assure ‘yourself maximum protection, substan- tial interest return and complete invest- ment satisfaction. Swartzell, Rheem &’ Hensey Co. 727 15th Street Northwest Washington, D. C. 54 Years Without Loss to an Investor FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF S00 DOLLARS AND UPWARDS Roncild 0 Heper # % 1207 Bonnecticat lbonas Sotablished 1889 In Conwenient Denominations N2 Fifleenth Street ~ Main 6888 MORTGAGE MONEY ‘VE'\'E got it to loan on new build- ings Qb= in refinancing of present loans. B. F. SAUL CO. Main 2100 1412 Eye St. N.W. Save and Invest The stronger the inclination to specu- late the more common sense is required to seek a safe, sane investment and preserve your principal. SAFE INVESTMENTS WITH A IDE MARGIN OF SECURITY, P-aying 6 and 6Y2% (PAYABLE SEMI-ANNUALLY) Shannon & Luchs First Tflll‘t 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'Street N.W.