Evening Star Newspaper, July 2, 1923, Page 23

FINANCTAL, REPORTED HEAVY Potatoes, - Tomatoes; , Let- tuce, -Peas and Peaches Rushed to Gotham. Special Dispatch to The Star,, NEW YORK, July 2.-—Most varies ties. of fresh fruits. and vegetables ‘were liberal. but white potatoes, to- matoes, lettuce, green peas, canta- Toupes and peaches were In heavy supply. Strawberries were in liberal sup- ply on the New. York City markets today. Approximately 1,800 crates were received. The demand was mod- erately active for firm fancy. large fruit, but very limited for poor to ordinary and soft stock..Prices rang- ed from 15 to 40 per quart with-most sales of Lest stock at from 25 to 30. Cherries were in rather light sup- ply, which resulted in slightly higher prices being. realized particularly for our-quart bas- 's: Varlous sweet 100 to 113, red trom 85 to red sours brought from 75 'to 90 and black sours sold from 90 to 1.00. 3 Currants sold from 9 to 18 per quart according to quality and condition. Gooseberries brought from 10 to 18 per quart depending on size. Red raspberries sold as low as 8 and as high as 15 per pint. PRICES OF COTTON. BREAK 74 POINTS Acreage Under Cultivation Proves Great Surprise to Trad- ing Element. Br the Associated Press, NEW YORK, July 2. broke 69 to 74 points in the local market today. July declined to 26.35 and October to 23.83. The government's condition report of 69.9 was very nearly in line with general expectations, but the official figures on acreage, showing an area of 38,287,000 acres under cultivation as of June 25, proved a surprise to the trade, in view of recent private reports pointing to an increase of less than 8 per cent on the average, and , the crop indications of 11,412,000 bales was also In excess of the private estimate. Prices broke sharply in consequence under liquidation and scattered selling, with October con: tracts declining to 23.85, or 72 pofnts net lower, and the market was nervous and unsettled - around 2 o'clock. NEW YORK. July 2—Cotton fu- tures. closed steady—July, 2658 to 26.65; October, 24.14 to 24.16; Decem- ber, '23.59 January, 2837 31 Spot cotton .—Cotton' prices GERMAN MARK REPORTS SHOW HEAVY INCREASES Br the Asscclated Press. s BERLIN, July 2 (Delayed in Trans- mission).—An increase of 879,680,140,000 marks in bills of exchange and checques is shown in the statement of the Tmperial Bank of Germany as of 3. Deposits Increased 1,272, 87,000 other liabilities in- .$17.000. The foregoing items. were missing fram the statement-as of June.23 as received on Saturday. OWINg to an error in transmission the increase. in advances was given in the earlier dis- whereas the | patch as 1,995,045,000, actual increase was 18,995,045,000. —_— BUSINESS IS GOOD. Only Seasonal Slow-Up Noted in Southern States. ~ ATLANTA, Ga, July 2—Funda- ness conditions are good ixth federal reserve district, ng southeastern stateS, ac- cording to the Atlanta Federal Re- serve Bank's eummgry for May, al- though. ‘it was pointed out, “certain factors” had an adverse. effect. This was to be expected, the summary in- dicated, because--the- momentum of early months of the year was mnot expected to “be safely maintained” through . the sprin and su hionths indefinitely. e CALL MONEY LOWER. NEW YORK, July 2—Call money, easler: high, 6; low, 5; ruling rate, 6 closing bid, offered at 63; last loan, 5; call loans against acceptances, 4%z Time loans, firm: mixed col- Jateral, sixty-ninety days, 5a5%; four- X months, 5a5%; prime commercial paper, 5. LONDON WOOL SALES. mho,\'Dt’;N, Ju]ly. 3.—|The» offerings at ne wool auction today SO y_ amounted to ‘while .inferior grades were frregular. PARIS MARKET UNEVEN. PARIS, July 2—Prices moved ir- regularly “on” the bourse tod: per -cent rentes. 58.francs, on Tondon; 76 francs 90 centimes. Five per cent loan, 74 francs §5 cen- times. The «francs 81% centimes. ay. Three LIVERPOOL COTTON. LIVERPOOL, July 2.-—Cotton“’spot qufet; prices’ easier:” good middling, fully ' middifng, 16.37¢ middling, dinarys 15.47; ordinary, 1617 Sales, 5,000 -bales, including 2,600 American.. Receipts,” 1.000 halee, no'American. "Futures. clased _easy. . July, .1 September; 13.92; October, 13 cember, 13.96; January, 12.7 12.62; May, 12.48. : S ST FOREIGN EXCHANGE. (Quotations ‘furnished by W, B. Hibbs & Co.) Nominal Selling checks 1d-value. 3 i 4.57 good’ or- 2 Trus 5 Wash,' Loan and Trust, hagen, Christiants,’ crown. Stockholm,” crow: By the Assoclated NEW. YORK, July changés easy. Quotations (in L Great Britain — Demand, 4.56%; cables, ‘banks, 4.54%. Frapnce—Demand, .0590; cables, .0880%: ‘Ttaly-—Demand, %0432; cables, .0432%. Belgium.—Demand +0500; cables, .0600%. Germany—De< mand, .00000534;~ cables, .000005%. Holland—Demand; .3906; cables, .3909. (orway—Demand, .1630: .1750. Spaln—Demand, . mand,- ,0300.- Greece-De- Poland~—~Démand, - ; + ' Czechoslovakia: Demand: +0299; Argentine—Demand, .3525 zil—Demand, .1088. Montreal—D "«“n #9719-32, 1047 10¢ %0 60 480N Y a° o 1058 son S 8 : CoBa... .0 9l 907 03 o3 00 ussian Govt Sias 1 1 Russian Govt 61 i 8 Swiss Govt Bijs .. Sales in units. STANDARD OIL ISSUES 200 Atlantic Lobos. Y 10 Chesebrough Mfg. . 2 200 Continental Oil new. 8 S LI R ne: 3 20 Tllinois Pipe Line... 157 58 o 3 5 Li 9% 93 30 S 2 2 5 55 40 Bouthern Line. ] 39y 39 .80 Exchange | 8 tendance. A good selection of fine | WA AKX & Mt scoureds brought full current rates, metmineie Gos pa dollar was-quoted at 16+ '3 Forelgn ex-{ 4.57;:60-day> bilks: oo [N BY WILLIAM F. HEFFERNAN. Spectal Dispatch to The Star. NEW YORK, July 2.—The selling Pressure which was felt last week on the curb exchange was less pro- nounced today. The general body of stocks reached somewhat lower prices early in the day and several new low records for the year were made. But the market strengthened later Reports to the effect that the over- production in crude ofl was gradually righting itself failed.-to have any materfal effect upon oil stocks. Trad- ing in this group was for the most part of a professional character. Prairfe Oll and Gas, at 177 established a new low for the year. This, how- ever, was an exceptlon to the general tendency in the Standard Olls. Others NEW YORK, July 2.—Following i an offictal list of bonds and. stoeks traded in on the New Y = Kot toanys lew York Curb Mar- Sales In N| thousands. BONDS Allied Packers 6s.. 7 Am Cot Oil ..., 01 1Am Lt 65 w't war 101 2 Am Holl Milly 6s.. 98 00 Am T & T 85 .24, 1 Detroit Edison e 3 Duniop T & R 8 Fed Sugar Gs 1 Libby McN & L Ts. 1 Manitoba Pow 7s 4 Maracaibo 011 7a '25 7 Morris & Co Tiis 7 New Orl Pub Ser 2 Pub Serv of N J 1 Pub Serv El_Pow 2 Bears-Roeb Ts '28. 2 Shawsheen 1 Boivey et Cie R E 3 Un Ry of Hav 7 11 Vaeavm 0 Fe. FOREIGN BONDS. 2 Argentina_7s '23.... 00% 12 King of Nether 8e. 101 1 Republic of Peru 8s 97% 14 R: tas.. 11 1% 100 306 Tmpl Oll of Canada, 96 100 Iniana Pipe Lize.. 15 2 270 2000 Yacuum Il new.o: o s 45k NBEW YORK TRUST COMPANIES. . 188 188 188 10 Equitable - < OIL STOCKS. Sales INDEPENDENT in hundreds. 10 Atk Nat Gas 5 Barrington OI1 - 1 Roston Wyo Of 80 Hudson 0i1 2 Interstate_Ro; Washington Stock Exchange ac Electric deb, 8s—S1 ifal Traction—5 at 1001 Light—10 at tlona! 13675, at 000 at 99%. :nlm." 1 e 140%. 10 at 11035, 10 15, 10 at 14033, 10 at 140%, 50 at 140%. 19 at 14014, v Lanaton Morotype—10 at 73, A APTER CALL. Washington G ‘Washington G Bid and Asked Prices. PUBLIO. UTILITY, American Tel. and Telga. 4 American Tel. & Telga. 4%4s. . . & Tel."ctl. tr. Bs. Am. . cony. Anscostia & Potomac 0s. Auacostia & Potomac guar, 5 . & P. Tel Captint Traction R . clty & Sububan o Georgetown Gan 1sf cetro B R. SRR 222! Potom: Pot. Ppot. 83ganyzdss: = o » ington G l]g Wash. Rwy. Tah: Ry, & Elee. s, MIECELLANEOUS. P Mfg. 6a. Rr r“ 55 (1o Ss_(shor Biife Dep. ‘223382 STOCKS. o PUBLIO UTILITY. American Tel. & Telga. Practfon. fnr\)il : Columbla Commerc! District . Farmers E‘dfl-l -American berty .. Lincoln .. National RIZES Bk ot Washington. TRUST COMPANY. * Tru *308 ' Baok. P Aol Savings & Trust Union e BAVINGS BANK. | Awertcan . en's Fire Firem re:) THE EVENING S§TAR, WASHINGTON, D NEW YORK CURB MARKET S Received by Private Wire Direct to The Star Office. 1 of this group were slightly lower for & time, but ran into support at the lows of the morning. Active short covering took place in Standard of Indlana, resulting in & substantial recovery, and Ohio Qil at one time gained & point. Some further selling made ftself felt also in Gulf Oll of Pennsylvania, and this stock touched a new low record at 50. Although offerings in the industrial section were not heavy, the profes- slonal element found support lacking in a number of speculative favorites, and these were forced down to or slightly under their previous lows of the year. Included among these were Goodyear Tire and Rubber, Todd Ship Yard and Mesabi Iron. Durant Motors of Delaware was o feature of the motor stocks, selling down sharply to 40%, This decline, however, appeared to be wholly the result of professional operations, for i the stock subsequently rallied well above the previows close. i 20 Keyst @1 Roy Can 0 & Re! Ryan Con Balt Ck Ce Salt Ck new Bauta Fe 0 & Sapulpa Refin ... Seaboard 0il . Southern P & R... Sou_ States 0il YVentura Cons Weat States Ofl. . Hoem 582820 P EE Fonmmal > Atlantic Fruit ... Borden & Borden & Co ptd... Brit Intern'l Cor A uddy Buds . Cellulofd Co Cent Teresn *g Durant Mot ....... Durant Mot of Tud. 9% Eaton Axle . 2 llette 8 R Glen Alden oodyear Tire . 108 Hanna M A 7-pc pfd 3% 2 Heyden Chem .... 1% 1de ptd L Bup Co of Dei. Tel Co pr. Roamer Motors . 50 C & 1 new Stats Motor Tenn Elec Por Timken Axle. Tobacco Prod Todd Shlp . 'ntd PPt Sh new. . Lt & H Wayne Coal I 80 Arizona Globe Co 120 Belcher Extens 8 Cortez Bilver 2 Cresson Gold . y Nine M| 170 Goldfleld Deep Mine 114 Goldfield Florence.. . 10 Goldfield Jackpot 10 Green Monster . 10 Hardshell Min 28 Hill Top AHEAD MONDAY, JULY" 21933 DEMAND FOR STEEL OF PRODUCTION By the Associated Press. CLEVELAND, Ohlo, July 2—Busi- ness is again on a forward move- ment, featured by the ‘pressing de- mand for iron and steel, according to the monthly business review of the Fourth Federal Reserve Bank. Even at the high rate of production the output of this industry is not suf- ficient to supply the demand, which shows little or no signs of relapse. Orders from the railroads are unu-| sually heavy and have reached the point where producers are requesting that orders be postponed wherever possible, the statement says. Indus-| tries are active in all lines, despite the seasonal dullness. There was a decided curtainment of buildings during May, the state- ment says, but there is sufficient building wWork going on to keep skill- ed craftsmen and dealers busy sup- plying the demand. Residential build- | ing continues on a large scale. SINGER’S FINE RECORD. of Huge War Losses. NEW YORK, July 2—~The S'nger| Manufacturing Company lost $106.- 024,643 in Europe bacause of the war, | $84,302,231 of it dn Russ vet in Oc tober, 1820, it had a surpius of $30.- 000,000 and there was declared per cent of tho capital stock, It was revealed in the suprems court. There also was distributed at that time an extra dividend of §1 a share on the stock of the Securities Company, the holding cor- poration of the Singer Company. —_— U. 8. TREASURY CERTIFICATES. (Quotations furnisbed by Redmond & Co.) Maturity— “Oter. 99 3132 100 1-32 100118 10014 99 31-82 100 1-3: 1001 101 6-82 1002 48s Ma p 4158 June 15, 3 485 December 15. Of Our First Mortgage Investments are placed on the most con- servative valuation: 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. “Invest in firsi mertgages and bo safe.” Chas. D. Sager Loan Dept. } AT 924 14th St. 38 oney to Loan Becured by first deed of trust om real estate. Prevalling Interest and commission. Joseph I. Weller {73, Wath/s &30 pe: e N, Drokerags charged, 'Come in and let us explain our met) of making small loans. - Commercial Loan & Finance 2% Hollinger 2 Hecla Mine.. . 1 Ho, ke Ext 6 Howe Sound. 30 Independence 20 Iron Blossom 10 Jerome Develop. s M Dom 50 Nixon Ner 17 Nipissing . 82 Ohlo Cop ... 2 Park Utah Mining. 20 Sil Queen Min Corp .40 Stand Siiver Lend: i 20 Nuccess Mines - 30 Suther dev Min 1 Teck Hughes 1 Tono Belmont . 12 Tonopah Extens 2 Tonopah_Min 3 United Eastern 2 United Imp, Min 21 United Verde Ex: 10 U C Con mew wi. 1 Utah Apex .. 61 West End Con 5 Yukon. God . BLAMES HOG PRICES ON SELLING PLAN Co-Operative Agencies = Failure, Live Stock Expert | Declares. By the Associated Press. CHICAGO, July 2—The concentra- tlon of a large number of hogs in the hands of co-operative selling agencles has proved an absalute failure, Everett C. Brown, president of the National Live Stock Exchange, i declared today in a statement in which he placed “a large part of the blame for hogs belng $1 under the cost of productlon on the co-oper- ! ative selling agencles.” A mass of hogs in one concern's | hands and forced on the market at one time “has been the ‘club’ on the market that has hammered prices down, to ‘the present unproductive o = According to figures presented by, Mr. Brown, he said that on 30,000,000 hogs marketed in a vear th each, 250-pound with 1922. NEW YORK EGG PRICES. NEW YORK, July 2.—Eggs firm; receipts, 9,201 crates. Fresh gathered, extra firsts, 26a27%: do., firsts, 23%a 25;"dp., seconds, 213%a23; fresh gath- ered, storage packed, extra firsts, 27%a28; do., firsts, unquoted; New Jersey hennery whites, locally select- ed extras, 43; nearby hennery whites, locally selected: extras, 39a40; state, nearby and nearby western hennery: whites, firsts to extras, 30a38; nearby o] First Mortgage Loans Lowest Rates of Interest and Commission. Prompt Action Thomas J. Fisher & Company, Inc. " 33615 mireer When you are sick you consult a doctor. When you need advice .re- garding rental properties con- sult us. ' That’s Our Business. Firm Has Big Surplus in Spite| a stock dividend of $30,000,000, or 50| International | RENTS B. F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 EQUITABLE Co-Operative Building Auoc.:iafion Assets .. Surplus " Save As You Earn. It you make up your mind to save systematieally you -will - accomplish fouch in a financial way. Jofn the Equitable. Subscription for the 85th [ssue of Stock - Shares, $2.50 Per Month EQUITABLE BUILDING 915-F St. NW. JOHN JOY EDSON, President FRANK P. REESIDE, Seey. Foreign Exchange Quotations By Radio Daily at 10 o’clock from Sta- hennery browns, extras, 82a35; Pacific coast whites, extras, 37a38; do., firsts | to extra firsts, 283a36. lumbia Graphophone com, Cotumbia Grishoumty gou Transfer TODAY'S METAL MARKET. NEW YORK, July 2.—Copper, quiet; electrolytic, spot and futures, 14% a15. Tin, weak, spot and nearby, 37.62; futures, 37.62. Iron, steady; No. I northern, 28.50a30.00; No. 2 northern, 28.00230.00; No. 2 southern, 26.00a 38.00. Lead, steady: spot, 6.85. Zine aulet; East St. Louls spot’ an 5.7625.80. Antimony, nearby, pot, 6.95a7.05. » tion [AY of Woodward & Lothrop ‘the latest quotations will be broadcasted. Rates by rivate wire from New York, cial phone, Foreign Depart~ ment, M. 8222. The Washington- Loan and Trust . Company 900 F Street 620 17th Strent STINMES .EXTENDS GRIP. German Financier Takes Control of Another Bank. BERLIN, July 2—Hugo Stinnes Is about to extend his banking inter- ests by taking over 200,000,000 gold marks of the 250,000,000 by which the Barmer Bankverein, Hinsberg Fischer & Co. Intend to increase their capitaliation at & genoral meet- ing July 26, says an official an- nouncement of the Barmer firm. Thia increase in capital will make the company's - total capitaliation 1,250,000,000 marks. The directorate will_further recommend a dividend of 150 per cent, as compared with 14 per cent last year. —_— Though she is past eighty-four | years of age, Mrs. Rebecca Wood has | made final proof on her 640 acres of | grazing land near Buford, Wyo. spmpuiTR A Continental Trust Company": Capital ‘One Million Dollars 14th & H Streets T T T T Money to Loan ANY AMOUNT 3 Reasonable Charges on ‘Trade Acceptances, ‘Warehouse Receipts, Manufacturers’ Accounts, Short-Term First and - Second Mortgages or Approved Collateral. | American Finance Corporation Commercial National Bank Bldg. ‘| e ELLTTLT HARRIMAN & COMPANY Members New York Stock Exchange 111 Broadway. New York WASHINGTON OFFICE COLORADO Telephone, G. B. CHIPMAN, MONEY TO LOAN o) Homes, Business Buildings or FIRST MO B. F. SAUL CO. Main 2100 BUILDING Main 1603 * Resident Partner Apartments RTGAGES 1412 Eye St. N.W. 6Y2% and 7% UR First Mortgage Investments will . pay you 6%2%and 7% over a period of years when interest rates in all prob- ability will be much lower :than they ' are at present. These investments b that hus back of it a Federal, State and D. recomunendation-~a recommendation 24 ear our unéualified record of no loss to any investor in 50 years. Denominations: $100, $500 and $1,000 C. Tax-Free Features Cash or Partial Payments — NO LOSS TO ANY INVESTOR IN 50 YEARS Cal, write or.phone Main 6464 today ;.rmc-pmopmwm i ke FH.SMITH CO. ‘FIRST MORTGAGE INVESTMENTS BUILDING SMITH - 815 FIFTEENTH ST. Your Convenience —dictates our banking hours. around the first and fifteenth of the month— consequently we will be Openuntil 5.30 P.M. Today fl Come in and leave an additional de- posit for your savings account—per- sistency pays in everything, saving in- cluded. Organized 1n 1814 Our Savings Deft. Pays 3%, Compound Inicrest National Meiropolitan Bank Capitel, Surplus & Undivided Profits Over $1,700,000 '15th St., Opposite U. S. Treasury—109 Years Old Your = FIRST MORTGAGES The Safest Security on Earth Every mortgage is less than 507% of uhe ready market value of the property 1. Absolute Safety. Relizble Security. Liberal Income. Insurai i Reinvest n 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. NW. Main 4600 BONBRIGHT & COMPANY . NEW YORK BOSTON BUFFALO CHICAGO DETROIT ST. LOUIS WE WISH TO ANNOUNCE THE REMOVAL OF OUR WASHINGTON OFFICE TO ROOMS 310 AND 311, SMITH BUILDING 815 15th St. N.W. Telephone MAIN 425 and 426 Philadelphia Bonbright & Company GOVERNMENT, MUNICIPAL AND CORPORATION BONDS. District of Columbia Intangible Property Tax District of Columbia personal tax returns must be filed by July 31st. “The tax is one-half of one per cent and is ‘computed on the fair market value as of July 1st on all . taxable stocks, bonds, and other securities. It is impor- tant that the investor secure correct prices as of July 1st for purpose of valuation. G We will be pleased to furnish quotations for valuation purposes. ' CRANE, PARRIS & CO. Investment Bankers 823 15th Street N.W. " Vacation Plans HIS is the season of vacation plan- ning. Everybody does it. A great many men and women, however, find it impracticable to carry out the fond hopes of the summer time because financial con- siderations bar the way. This Company has devised a plan to enable you to accumulate small savings in the form of our First Mortgage Notes on improved Washington real estate. Even if your savings do not exceed $5 or $10 per month, it is possible for yeu to invest them in our First Mortgage Notes. " As'your savings.accumulate, the inter-. est return will provide the funds for your deferred travel plan. 5 Ask for our Booklet, “SYSTEM SAV-" "~ ING.” 727 15th Street Northwest ‘Washington, D.C i 54 Years Without Loss o an Investor e