Evening Star Newspaper, July 9, 1923, Page 22

2 EXPORTS OF GRAIN | SHOW BIE GANS Corn, Rye and Wheat Figures Up During Week—Barley, Oats and Flour Drop. ts from the United amounted to 4.627,- with 3.668.000 Grain expc States last week 000 hushels compared the week bhefore. . Figures made publie Department compar today by showed grain of the the ex the Commerce following ponts last w previous week Barley, 182,000 by 9,000 bushels 000; oats, 1,481,000, 6,000, inst 0 barrels. against | xports of Canadian grain_ from American ports amounted to 563,000 bushels aguinst 700,000 bushels the week before ELK CONVENTION OPENS IN ATLANTA Thousands From All States Gathering in Georgia Capital. of those ns ek with hels, against | 000, nst against 0 1 §10,000; wheat, 18,0007 flour, 13 140,600 barrels orn 41,000 again 1 1 rye b By the Associated Tres: ATLANTA, Juiy 9.—*It's heilo. | BHL" in Atlanta today. Thousands of members of the antlered tribe are| trekking into th corgia capital for the fifty-ninth ( 1 Lodge conven- tion and the Protective of Elks, officially tonight While initial cer vesterday afternoon with ir patriotic and re picturesque Piedme 1l of the ¢ ight. Gov frord will deliver an addr of on behalf of the state and Iter A. Sims will extend tings. Judge F. Atlanta _Lodge, Ruler Ga reunion enevolent Order which opens e held monies we Lodsg M. nd Walker welcome Mayor W anta’s gre: and of ng to a_story mornin the Atlan Boston has be &% the convention city for next vear. rly estimates place the number of delegates already here more than 12.000. Preparations have been made to entertain 30,000 ANOTHER SLASH IN REFINED SUGAR Granulated 11-2 Cents Below High | Price of Season—Poor De- mand Factor. published this ided upon By the ociated Press. | NEW YORK. July 9.—Another slash | was made in the price of refined sugar | in the local market today. Granulated was cut to 8.75 by one refiner. This 1s 11z cents below the high price of | the season i The drop was due to reoffering of 2.000 tons of refined sugar which had been shipped abroad. and returned be- cause no foreign market could be founa. The slack domestic demand also was ntributing factor. NEW WAGE DEMANDS BY 16,000 SHOPMEN Rr the Associated Press. NEW YORK, July 9—Representa- tives of 16,000 New York Central rail- road shopmen submitted, at a conference with rail officials, a pro- gram of proposed wage increases to counter a pr the road put today position forward last week Negotiations fc New York (‘entral shops have beel going on in secrei for several days. | Neither side will make public its de- | mands until an agreement ed. | SHIP FIRM TO BUY LINER CLEVEI.ANDj a new scale for the By the Assaciated Pross NEW YORK, July 9—R. H M TNobinsen, nt of the \n'wl’bf‘llfl.l Ship and Comm Corporation, an- nounced today t the former Ham- burg-American liner Cleveland. 17,000 tons, would be purchased soon by his company from the yron Steamship | Company. Limited. of London. The vessel will he reconditioned and put into service in two months. presic NAVY YARD SENDS CALL FOR SKILLED MECHANICS to The Star. hurry ficers for workers. workers, clans. Thi the extens m pair work and yard. MADE 68,000 AUTOS. General Motors Reports Output of call Skilled bricklaye shipwrigh mecha sheet and electri required by of ship re- construction at the Cars and Trucks. NEW YORK he General Motors Corporation reports an out- put of 68,000 cars and trucks during June, according to a preliminary re- port issued by the company. This compares with production of 75,419 units in the previous month and 48,- 541 in the same monfh last.year. The record of car and fruck production by months follows: 1922 16,088 20,869 34,082 40,474 46,736 48,541 includes January Tebruary March April May June b *This preliminary figure Buick, Cadillac, Chevrolet, Oakland and Oldsmobile passenger and com- mercial cars and G. M. C. trucks. TODAY'S METAL MARXET. NEW YORK, July 9.—Copper quiet; electrolytic spot and futures, 143a 14%. Tin firmer; spot and nearby, 38.50; futures, 38.37. Iron steady; No. 1 northern. 28.50a30.08;: No. 2 north- ern, 28.00a30.00; No. 2 southern, 26.00a. 28.00. Lead easy: snot. 6.25. Zi firm; East St. Loulr, spot.and nearhy, £00. Antimony, spot, 6.8086.90, f of the {" FINANCIAL,' BY WILLIAM F. HEFFERNAN Special Dispatch to The Star. NEW YORK, July 9.—Today's curb { market continued to reveal the better { feeling which characterized the sel- Ting late last week. Profit-taking sales from time to time served to bring about slight recessions from the high prices, but !it was evident that public sentiment with regard to general outside condi- tions was gaining in confidence. 1t was also noticeable that professional operators commritted to the short side were disposed to cover in their contracts. The advance was not general and ‘when some parts of the list were moving forward. others were neglect- ed. Oil shares came in for a good deal al, inasmuch as they were the most persistently sold during the recent decline. Standard Oil issues showed only fractional upturns early, but these NEW YORK, July 9. —Following is an official list of bonds and stocks traded in on the New York Curb Mar- ket today: Sales in BONDS High 851 Lov. [ T & T 6y Aoaconda s : nglo Am Oil Tigx 1081, 100 12 Detroit City 1 Detroit _Edison ir Rot e and_Trunk 6138 1 United 0l Pro 4 Unit R of Hav 7 2 Vacnum Ofl 7s 5 Argentina R # King of Nether 6s. 11 Mexican 1 Republic 15 uckeye Ripe Line. 85 urekn Pipe Line... 106 il Sig_ Oi1 A0t Tilinois Pipe Li 160 Imp! Til of ¢ 90 Indmna Pipe Line.. 96 Iml Pet Co Ltd.... 13% agnolia Pet ... . 130 Y T Doz i Lo Jas1 093 B Ei 105 80 159 St Ol Kentueky.. Bt 0l New York... Vacuum Ol new Washington 0il INDEPENDENT O1L. Barrington 011 ... 10 Tndian 0il ib Synd 1000 1700 Creole Synd cineers Pet Federal 01l 3 len Rack Ol .. ulf Ol of Pa... Hudson 0l Smar 01l & ¢ Peer Oil Penn Pennock Oil ....... Royal € 0 & Ref.. Ryan Con salt Cry alt Ck new.. Santa Fe 0 & G apulpa_Refin Seaboard Ol .. ... thern P & R. Sou States O1l. Turman 0il Wiicox 01l & ¢ ¥ 0il. sainar SHeg et e 2820 7 08 INDUSTRIALS. 2 Archer Dan Midland 20" Armour & Co pfd.. 75 Ar & Co of Del pfd 851 v .30 1% 2 British Int Corp A Tuddy Ruds . Cellulala _Co. . Centrif Tron Pipe. . er Cab Mfd A hicago Nipple .. Nipple B Tr Congolenm Co . Cuba Co 3 Curtis Aeto ctf dpe. Dubllier C & R. illette § R Glen Alden Conl.. Goodyear Tire . Hanna M A Heyden Chem ... Tndustrial Fiber Cor Keystone Solether.. Lupton F M. Midvale Co ... Nat Sup Co o N Y Tele Co adio Corp Radio_Corp Reo Mot . Rosenbanm Roamer Motors 2 Shelton Looms . 3 Swift Intl Swift & Co. Tohaceo Prod Expis Triangle Film TUnion Carbide ... Un_Retail Candy 7 S Lt & Heat, 2 Alaska B:it-Colo, 1 Am Commander Min 120 Arizona Globe Cop. Belcher Extens ... 2 Rutte & Western. FOREIGN EXCHANGE. July 9, 1928—11:50 a.m. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks gold value. foday. 4.56% London, pound. Montreal. dollaj Paris. franc. Rru franc. Berlin, mark. By the Associated Press. NEW YORK, July 9.—Foreign ex- changes irregular. Quotations (in United States dollars): Great Britain, demand, 4.56%; cables, 4.66%; sixty-day bills on_banks, 4.53%. Foance, de- mand, 0686%: cables, .0586. Italy, de- mand, .0424% cables, .0425. Belgium, demand, .0484; cables, .0485. Germany, demand, .000003%; _cables, .000003%. Holland, demand, .3912; cables, .3916. Norway, demand, .1610; Sweden, mand, .2638; Denmark, demand, .1738; Switzerland, demand, .1723; Spain, de- mand, .1438; Greece, demand, .0310; Poland, demand, 0000071 ; Czecheslo- akia, demand. .0302; Argentina, de. mand, .3450: Brazi), demand, .1050; Montreal, .47%. - = wia of the buying which was only natur- | effect | 145,400,000 bushels. THE EVENING STAR, WASHINGTON, D NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office were eventually increased until ad- vances of a point to 2 were general. Imperial Oil of Canada, prominent in the recovery late last week, went lower # the start but later made up the loss. Standard of Kansas, Indlana and Vacuum Ofl were up substantial- ly while Magnolia Petroleum record- ed a three-point advance reaching 130, Gulf Oil of Pennsylvania led the independents, while Creole Syndicate continued active around the Saturday final. Several mining stocks shared in the upward movement, led by United Verdie Extension, which responded to the publication of output figures foi- the month of June totaling 3,517,744 pounds of copper. Gillette Safety Razor declined 2 points, but later made up more than the loss, responding to the state- ment of the vice president to the that the strike al the ‘com- pany’s South Boston plant had end- ed. There was little feature to the movement of other industrial stocks. Motor stocks were practically neg- lected. Canario Copper Candelaria Min 10 Comstock Tunnel . 7 Con Cop_ Min te cfs 20 Cortez Silver. 2 ¢ 20 E 10 210 ¥ 10 ¢ 280 ; 06 ¢ 50 20 10 Harmill Div . 5 Hollinger ot 26 Hill Top Nevada_ .. Independence Lead. . Kerr Lake . 50 'w Dominion Cop. xon Nevada hlo Cop Premier « 5 Ray Hercules 130 Rex Cons ..... 5 240 United Eastern. .. Un Imperial Mines. 7 United Verde Ext. 10 U S Cont new w i . 1 Wenden Copper 10 West T 1 Yuk Ala DROP PREDICTED IN CORN CROP Forecast of this year's corn crop at 2,877,000.000 bushels, or 14.000.000 bushels samiler than last vear's crop. and this season’s potato production at 382,000,000 bushels, as compared with last year's record production of 451,185,000 bushels, featured the July crop report of the Department of Agricuiture issued today Forecasts were announced today as follows: Winter wheat, 586.000,000 bushels; spring wheat, 235.000.000 bushels: all wheat, $21.000,000 bushels; corn, 2,877,000,000 bushels. Oats. 1.284.000,000 bughels: barle 198,000,000 bushels; rye, 68.700, white potatoes, 382.000.000 sweet potatoes, 0,000 trust ofs ,000,000 pounds: hels: rice, flax- apples, 189,000.000 bushels; peaches POWER BONDS SOLD. CHICAGO, July 9—Three million dollars’ worth of first and refunding 6 per cent gold bonds of the North- ern States Power Company have bee sold by the company to the Har Trust and Savings Bank of Chic the Guaranty Company of New York, Bonbright & Co. and H. M. Byllesby & Co.. according to an announcement made here today by the Harris Bank BUTTER PRICES FIRM. CHICA . July 9 —Butter receipts, 1 58 tubs; creamery extra: 371 standards, 37%: extra first 3512a361;; firsts, 34a35; seconds, 3335 Eggs higher: receipts, 15 firsts, 22a22%; ordinary firs 21; storage pack extras, 25a25% age pack firsts, 23% steady; REPORT OF THE CONDITION OF THE UNITED STATES SAVINGS BANK, Washington, in_the District of Columbia, the close of b June 30, 1923. counts. including rediscounts. ac: o ptnnees "of this bank cept those shown in b and c)....$1,8 Total loans.. . Overdrafts. unsecured, . Other bonds, thes, ete.. . Banking house. $75.000; fur- niture and fixtures, $8,129.50 Cash in vault and amount due from national bank: . Amount due from sta bakers and trust *compa nies in the United States (other than included in items 8, 9 or 10) > Exchanges for clearing house. Total of items 10, 11 and $191,027.71 banks ‘Tocated out- side of city or town of re. porting bank and other cash tem ch o.......$1,395,083.10 $270.03; £94.78 £40,183.30 £3,120.59 131,239.48 . securi- 50.00 Total ......... $2,211,218.48 LIABILITIES. ! . Capital stock paid in. - $100,000.00 | 8. Surplus fund 21T T100,000.00 . Undivided profits...” $42,40858 b Reserved for d 9,808.84 preciation $52,212.42 . Amount due to national banks. . ‘Amount due to state banks, bankers and trust compa- nies in the United States and foreign countries (other than included in items 21 or 22) Gertified checks outstanding & $90.002,93 Demand deposits (other tiian bank _deposits). (Deposits payable within 30 days): 25. Individusl deposits subject to check . . Dividends unpaid. . Other demand. depos! Total of demand _depor (other than bank deposits), items 25, 29 and 30 days, or subject to 30 days' ‘or more notice) and postal savings: Cettieates of deposit (other than for money wed). . Other time deposits... . Total of time deposits. 31 and 33. 1,385,889.30 Total .. ceeso...$2,811,218.48 District of Columbia, City of Washington, 1, WM. R. DE LASHMUTT, cashier of the above-named’ bank, solemnly swear that the above statement is true to the best of my knowledge and bellef. WM. R. DE LASHMUTT, Cashier. Bubscribed and sworn to before me this 7th July, 1928. eon 3™ % ¢ MORGAN COOK, ) Notary Public! 9,000,000 tons; | = RAILROAD EARNINGS ! AGAIN SHOW GAINS Rate Above 6 Per Cent for !eeondl Consecutive Month This Year. Net earnings of class 1 rallroads, which operate %0 per cent of the country’s rail mileage, amounted to $89,099,600 during May, according to | estimates made public yesterday by the bureau of railroad econimics. The total, indicating an earning rate of 6.33 per cent on the value of capi- | tal invested in raflroads, was the second consecutive monthly return rate above 6 per cent. In the five months of 1923, includ- ing May, net incomes of class 1 rail- roads was $356,966,900, which the bureau said equaled a 5.69 per cent. return rate on the value of railroad property as tentatively estimated by the Interstate Commerce Commission. Railroad rate levels under present policies of the commission are aimed ! at producing 5.75 per cent for operat- | ing lines. Tn the east the income of carriers amounted to 7.72 per cent on the value of railroad property, while in the west the return was 4.43 per cent | and in the south, 6.72 per cent. Total receipts from trafiic in May amounted to $547,282,600, or 21.8 per cent more than those of May, 192 Expenses were $420,656,000, an in- crease of 18.4 per cent over May last year. _— MARK AT NEW LOW. BERLIN, July 9—The mark Sa urday touched 1,000,000 to the pou sterling, but later recovered some- what. I Money to Loan Becured by first deed of trust on real estate. Prevailing interest and commiscion, Joseph 1. Weller i Fash Ty &z "REPORT nroémlv; CONDITION Departmental Bank Washington. in the District of Columbis, At the close of business June 30, 1923, RESOURCES, and_ dis including nts, mc ceptances of other banks, and forelgn bills ‘of exchange or drafts, sold with indorsement of thix bank (except those shown In b and @) ..oeeee.nn Total loans e Overdrafts, unsecured, $42.33. . 8. government securities owned L........ Other bonds, stocks, $570,506.35 4273 5 45.782.40 securities, ... 8372699 $7,300.98 120,187.42 t and amount due 1631047 Fxehang Cheeks on hanks located outside of rity or tawn of reporting bank and other cash items. Other assets Total LIABILITIES Capital stock paid fu..... ndivided profits & Keserved for inter ext and toxes me crued b Reserved X oo uds aupaid - of demand deposita (ot Dosits). items $80,427 4 yabie after 3 abject o0 30 dagw notice) and postal of deposit (other than for mones borrowed) time deposits time deposi 3 54 representing money other than redis- Liabilities " other " ‘than those above stated ........... oo $862,134 32 y of Washington, NICIOS, cashier of the above-nnmed bunk, solemnly swear that the above statement is true to the best of wy xuowledge and bellef. MARSHALL 0. EXNICIOS, Cashier. Subscriled and sworn 1o before me this 6th day of July, 1923 (Semi’) R W. BOWLI Notary Pubile. R. E. Potter, dno. 8. Beach. Louis Total ... District of Columbi 1. MARSHALL 0. Correct—Attest E. W. Libbey 37 Franklin Mever, Robert H. Alcorn, H. A. Fller, 3. W. Ginder, K. 3. Quinn, NDT PARK SAVINGS BANK ngton. in the District of Columbia, at close of business, June 30, 1923. including unts, ac coptances o f other banks. and foreign_bilis of hange or Arafts, sold with 48819 155,487.38 129,602.67 | 2. Overdrafts, unsecured. i 4. U, S government securities owned .. Other bonils, st . Bauking house, $83.623. niture and’ fixtures 858,80 7. Real est banking house Cash in vault and amount due from national banks. . Amount due from state bank bankers and trust companies if the United States (other 105,512.48 17,708.75 238,128.41 Exchang ecks on other banks in t same city or town an report- ing bank (other than item 12) .10, 11,12 e $2TL 47541 s ‘on banks located ou side of city or town of porting bank and other ca items . 4,548.38 Total $2,702,662.88 LIABILITIES. Capital stock paid in 3 . Surplus fund .. . Undivided profits. © Less _current Denses, inters and taxes paid. $30.000.00 . Certified checks outstanding . Cashler’s checks outstanding. . al of items 23 and bank _deposits). payable within 30 days . Individual deposits subj check " Total of demand deposits (oth- er than bank deposits) items 2 a0 20, $1.285.10000 Time deposits (payable after daye, o sublect to 30 days' of more sotice) and postal savings: . Certificates of dej it (other e or’ maaey, porrowed) at 10 o’clock from Sta- tion WIAY of Woodward & Lothrop the latest quotations will be broadcasted. Rates by rivate wire from New York. pecial phone, Foreign Depart- ment, M. 8222, The Washington Lo:n .and Trust Company 900 F Street 620 17th Strest Other time deposits. Total of time deposi 31 and 83...... 81 Total .. aae District of Columbia, City of I, ln“EaBTh:k. HIENZ(' - o ‘above-nams , solemp wear above ‘siatement s true to the best of my mowledge a A knowledke A0 SHERT 8, STUNZ, Cashier. Subscribed andsworn 6 betore e s 6th day of July, N WILLIAM C, STRAUSS seal) s STRATSS, Correct—Attest: Thos. Somerville, L., W. Groomes, Waites H. Kloptes Frank W. Bolgiano, E T. Gopdmas, Wm. M, Wailes, Frank B. Altemus, €. 8. Bundy, Robert 8. Stunz, Henty A. Palkinhorn. J. Kobert Seiamerville, “w e” —~have on hand several very All bearing 7% Interest and run for 3 vears. In denomina- tions of $250 and up. Chas. D. Sager 924 14th St. N.W. Loan Department O, MONDAY; JULY -9, - 1923. First Mortgage Loml Lowest Rates ‘of Interest and Commission. | Prompt Action Thomas J. Fisher & Company, Inc.; 788 15th Street Home Fumniture LOANS $50 to $800 on D. C. real estate, household goods or chattels. 7 per’ cent interest. No brokerage charged. 'Come 1n and let us expiala our met of making small loans. 'Commercial Loan & Finance Corporation’ Room 211, 921 15th Bt. N.W. System Cobyrighted & Patent Pending. EQUITABLE Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Assets . . 84,750,762 Surplus . e $1,207,281 Cultivate the Habit of Saving It _you would save with tha best results, join the Equitable and save ically. Subscription for the 85th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presideat FRANK P. REESIDE, Seey. 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. We will be pleased to furnish quotations for valuation purposes. CRANE, PARRIS & CO. Investment Bankers " 823 15th Street N.W. On Partial Payments . THER you start with a partial payment of $10 or make an out- right purdhase of $10,000 you get the same rate of interest under our Invest- ment Savings Plan. This plan offers you safety, convenience and the profitable returnsof 6%2% and 7% paid by our First Mortgage Investments. Denominations: $100, $500 and $1,000 Federal, State and D. C. Tax-Free Features NO.LOSS TO ANY INVESTOR IN 50 YEARS Call, write or phone Main 6464 for the booklet describing our Investment Savings Plan ke F.H.SMITH CO, Mm 'FINANCIATL. DON'T TAKE CHANCES WITH HARD-EARNED MOMEY— .Buy Safely and Avoid Investment Losses Invest in our FIRST MORTGAGES They relieve you of all care Over a , Quarter They pay good of a and worry. Century interest and your principal will Without be returned in full. a Loss B. F. SAUI’ CO. Main 2100 1412 Eye St. N. Dean, Onativia & Co. Stock Exchange Building New York COTTON GRAINS COFFEE SUGAR STOCKS and BONDS MEMBERS New York Stock Exchange Chicago Stock Exchange Associate Members of New York Curb Association WASHINGTON OFFICE: Main Floor, Weodward Building Office Open Until 5:30 P.M. Phone Main 2040 JOHN CALLAN O'LAUGHLIN CHARLES R. ALLEY Manager Assistant Manager N. Y. Cotton Exchange Board of Trade change Chamber of Washington's Oldest National Bank| Costly Experience Dont’ wait for burg! or fire to c vince vou that home is no plac keeping important papers, Liberty Bonds, stocks certificates or other readily appropriated valuables. IT COSTS LESS to give the protection ] ch pos sessions forded our— SAFE DEPOSIT BOXES Organized in - Our Savings Deft, Pays 3% Compound Interest National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000 15th St., Opposite U. S. Treasury—109 Years Old ‘ 814 HARRIMAN & COMPANY | ‘. Members New York Stock Exchange ‘ 111 Broadway, New York WASHINGTON OFFICE COLORADO BUILDING Telephone, Main 1603 G. B. CHIPMAN, Resident Partner A Saccessfal Investment Record THE proudest achievements of Swart- zell, Rheem & Hensey Company are its successful record and the many thou- sands of satisfied clients who have profit~ ed as a result of safe investment in our First Mortgage Notes. We specialise exclusively in First Mortgages secared by high-grade, im- proved Washington property. There is no class of investments that has a better record over a long period of years than First Mortgages. Daring the period that the Notes sold-by-this company have been outstanding, the country has passed through meny eerious financial and eco- In practicslly every other class of in- vestments, inwestors have suffered severe losses as a result of violent fluctuations in security but the First Mortgage Notes by us have always been worth what the investor paid for them. Swartzell, Rheem & Hensey Co. 727 15th Street Northwest ‘Washington, D. C. 54 Years Without Loss to an Investor