Evening Star Newspaper, July 11, 1923, Page 23

CONTINENTAL CAN BOOSTS OSTS DIVIDEND: We;flnghonne Orders Now Qver| * $47,000,000—0ther Wall Street Briefs. By the Associated Press, NEW YORK, July 11.—The Con- tinental Can Company. Inc., today de- For Better Vision TheRight Glasses and Eye Comfort Consult Kinsman Optical Co., 705 14th St. N.W. Established in 1900 , Z\ “N § 777, 777777227227 2 % N \ § . \ | \ " provement clared a quarterly dividend of $1 on unmmon stock. The last quarterly | atvtdena on common was 75 cents. 1 Incoming orders of the Westing- ! house Electric Company for the first | | quarter of the fiscal year totaled oyer | $47,000,600, as against $32,119,000 in the'same period of 1922. ' There.was & decrease in June this year compared to the two previous months, but that ) it was seasonal is indicated by the’ fact that bookings thus far in July are ahead of those in June. Sales of Schultze Stores, the first six months of the yea. ed §13,422,016, as compared with $10,- 758.826 In the corresponding peried of | l“é ftish vitioh perrgmanganese ‘producers | nave Yeduted Drices §150 ton o | $117.50 c. 1. £. The price had risen in a vear from $62.50 to-§125 ;un” more than $30 of the increase rep- resenting the higher tariff. BIDS ON ROADS ASKED. MINNEAPOLIS, July 11 {Special).— Bids' for twenty trunk highway im- projects, to eost about $2,000,000, will” be received by the state highway commission July-24. —_—— BIG JUMP IN EXPORTS. SAN FRANCISCO, July 11 (Spe- clal).—Exports to the orient and South America In June totaled 1,253, 312 tons, a gain of 400,000 tons over | a year ago. Imports of 1,196,233 ~THE- BVENING STAR, -WASHINGTON, D. G NEW YORK CURB MARKET PRICES OF STEEL NOT- TO CHANGE Advasige in """ Affect Basic Charges, Report Says. By the Assoclated Press. PITTSBURGH, Pa, July 11.—An- price of ateel, {t was explained at lha offices of the company here toda. particular products advance n.re known in the trade as ‘“extra: this 1ist had been in use so lon' lhlt it was nece ry to make adjustments and -bring the ndard of the st of the lndunry DAIRY PLAN FINANCED. “BALTIMORE, July 1i.—The nent financing plans of the We Maryland Dairy. Inc., have been com- leted. The corporation will issue T | 85755000 8 per cent firat preferred stock, par value $50 a share: 30,000 shares of no-par common stock and tons also showed a material gain. I T Little City in Itsel $878.000 first mortgagke 7 per cent convertible sinking fund gold bonds. Y% In this Charming Subdivision we -have built a f We Invite Inspection of Our Exhibit Homes: 4317 and 4319 Fourth St. N\W Home Values Such As You Have Never Seen Six Rooms Tiled Bath " Electric- Lights Hot-!uter Heat Large Porches Laundry Tubs Open and Lighl'ed -D:.ily- tnd Sunday Until 9 P.M. Take- 'Grant Circle’ Bus” or 9th Street Car Marked “Soldiers’ Home” D. J. Dunigan 1321 New York Ave. Phone M. 1267 On Your Next Trip to Rock Point . You’ll ‘get more miles from the gallon make fewer entries in your expgnsf:'_gcceunt.'- TE Save it THE TF.XAS CDMPMHY U-&A. ‘evaco Prtrolewm Products YOUR mileage per gallon depends on the volatility of the gasoline you buy Texaco is the volatile gas—there sa dlffer- ence. Fill up now with Texaco and try it out. You’ll fee/ just what that difference is: power, easier starting, quicker plck-up. more ACO GASOLINE THE VOLATILE GAS Run it with Texaco Gasoline with Texaco Motor Ol “Extras” Will Not, BY WILLIAM F. HEFFERNAN. Specidl Dispateh to The Star. YORK, July 11.—~Thé market on the curb exchange today moved irregularly. Further selling made it- self felt in ths oll stocks for a time during the early dealings and brought about sympathetic weakness in a number of industrial and mining shares. . Professjonal” Tefforts 1o de- fress the generdl market;mét with only temporary success and the list subsequently hardened. Trading for the most part was|§$ quiet and the market appeared to be awalting the outcome of develop- ments- in the foreign -situation on reparations. . Special ytocks were in- fluencéd by favorable news-regarding the companies themselves, but de | NEW YORK, July 11—Follojwing ls | an offictal 1isi of bonds and stocks traded in on the New York Curb Mar- ket today: Sales 1n nt Kreel Cit Betv Ts ©. Cit Serv 7s D Cons Gas Balt Deere & Co Tl Detrolt City Gas 0y Detroit Edison 6s.. Dun Tire & Rub Ta. :2 Fedoral Sugar da, 33 06 Rody 6a |27, o1 Body_6s '28 Gatr, Robt 7s Qea_Asphalt b Grand Trunk 8 Gulf Ofl of Pa o s L N Toutaritie & % ¥ 5 & Co THs. aather 8. 56 B P! fe 1128 "nited” Ol Prod 8s. ‘acuum- Ofl 7s.. FOREIGN 1 Argentina s .eu!‘.»-n-ax-:u!fiua_....a.,-.:u-...a,..-.‘;s_........,..! 80 U 8 of Moxico 4s.. 38 STANDARD OIL 188UES. :;i A 8.0 ) nn 1100 Vacuum ONl new .. 44% 43 Sales INDEPENDENT OIL STOCKS. in hundreds. 8 Ark 4 Barrington 6 Carib Syna . cit Sery Cieies Service od: © Cit Serv B efs 43,000 Cit Berv serip. 13 Crosie-fynd Lo w 1" Derby 2 Federal Ofl 2 Glen Roek 134 ARNOLD AND .COMPANY Offer to conservative investors l Guaranteed First ‘Mortgages Secured- on improved - Real Estate in Washmzton, - ol In addition to the se- -curity of the-Real prop- ,We ' gharantee -incon- ditionally the payment:of princip# and interest. Denominations in any amount, $100 and upward. Vtmom Matuntm 3 t_o 10 Years These Guaranteed First Mortgages may be bought on the monthly payment plan. Interest at the rate of the mortgage allowed on monthly payments. Call,Phone or Write !o( AND COMPANY Incorporated Capital, sl.ooo,orp 1311 H Street N. w Phone Main 657.658 “n&v‘n (Leme et two Tlvducmx Somphales roao o Recelved by Private Wire Direct to The Star Office %‘“ occugred. lpflnl‘ lo e h.ll' ment that ings for the nm n.u y'g -'QX‘ an previous record. company de- clared the regular qlururly dividend of $3 a share in onh. and the usual omi-annual & cent in_stock. rnings for !llo first six months :rha‘re $4,244,867, against $3,698, "1 n me 0d lnkl" -l stocks of the en | hed u::er vels, the steadily incre "ing * de: Iur‘tha ‘métak‘and ’ the slight hardening of quotations today. Ohio (‘op1per ran up sharply for a gain of ints on what appeared to bo short covering. Independent Lead was another of the mining group that came in for attention, get- ting up to 40-again on officlal reports | that's néw ore body had been uncov- ered it the company’s property in the Coeur d'Alenes. FE 1 Gransda OMl . i Guit- Ol of Pa 60 Hudson O . CEEE LI L TN *x = * * oreen ot B S E 5 fi’“:‘:" o8 10 Wilcox Ol & 5% INDUSTRIALS. 1] Allied’ Packers new. Ped 4 Glen. Alden Coai. . 14 Goodsear Tire s 1 Hanna M A 7.p¢ i 2 Tnter Cont’) Mabber K'wu; Bolether. . ik B i _n‘G"-‘filaf.fl:flfl“' FREESE SRS 8% £33 130 Fortans Mines . 220 Goldficld Deep 223 Golag Florence u 1 Homestake Ext 2 Howe Sonnd . 170 1 Ll ;aa;'s;;’;;;'zs’:.hu;b';__h:a;- 40 MeXamar lllm,l'll Tin R ew Dominion Cop. 8! h\pv Jersey ZTM‘ ¢ 144 O Copper Premier Gold Min 15 Ray Hercules Inc. 1 Red HIll Florence. 10 Red Warrler .. BuuwBaB = ES 4 | Heigh 40 Kpearhead Gold 10 Success M 10 Sutherland 21 Teck Hugh 3 Tono Belmor 20 Tuolumne . 12 United Eastern o Con ™ o Wett Tareain’ Qliv BUY PENNSY STOCK. Employes Hustle for Shares While Market Is Down. PHILADELPHIA. July 11.—The buying of Pennsylvania Railroad stock by the employes has greatly in- creased during the recent slump. The officers of the Mutual Benefit Asso- clation, which during the past year bought over 27,000 shares. report they are buying dally from $5,000.40.§6,000 fAmeric: of stoek. The new departmint’ for the purchase of the raflroad securi- | ties has begun to function. - PURNELLS WIN PLEA. © to Appeal Case. GRAND RAPIDS, July 11—Judge John E. Sater has flled an order in United States rict court here granting the reuest of Benjamin and Purnell and the Israelite House rfium for permission, to appeal his dadllon in the case of John was glven & vcrdh!t ltllnlt th. ‘colony for the val well as that- of his wlfl children while members of the House. of David colony at Benton Harbor. H. T. Dewhirst and W. J. Barnard, attorneye for the colony, have filed an Af lrgnment of errors tabulating fifty-seven items in contention that Jud‘. Sater’s -decision should be overruled. Chief among _them are that the court had no jurisdiction and that the court erred in permitting testimony regarding the alleged im- moral conditions in the colony. POISON IN MEDICINE. Maflu Eh!ml.rruoflpuon Xfllad fiEWA “July 11—Efforts to show thai T o ] dled as the ruuh of taking strychnine oom'naundod' 1n . vhylfehnl Mp. tion wm by defense- counsel - to- [ day 1! Mmmfln a7 the triar of Tharged with mother-in-laws ’rho moalchu. give CM‘hlon thre. days baton her dél!h- on December 1, 1920. WOULD RENAME CANAL. Dyn Wants Waterway Christened Sitnesses Mrs. Mary Creighton, the poisoning of her J\lfl e Dyer 1and Fo pactict %‘om o nntfln statue osevelt, to pate h\ the unvoll\nl of Theodore Ceell Rhodes, was kil Lle aceident. K &nd’ Mach. m;-l Anterfcan.. ork d s | Risss acoording to test- | N2t elder “Mrs. WASHINGTON BANK DEPOSITS “NATIONAL BANKS. April 3, 1913 June h.uoqn.)c mere Dlllrlnl Liberty Lincoln Maetropol! onal Capi RI . Be a Standard 70 3 1,781 n '869,944 . Com. lnd sav. An-conln Excl ro Industrisl Inter. Exchange . MoLachlen .. North Capitol. Northeast Northwest Park $2£,170.725.07 $28,516,403.87 g I L e o & $104:098,208.72 "396.984,748.01 YIN 8 BANKS. FlNANCIAL. Gain Loss 1933 8 $1,274,914.62 260,398.22 'nm‘lo sa $157,480.15 455.63 326,160.22 300,670.95 4,006,422.63 478,088.90 $7.143,354.31 $308,902.09 34724298 232,424.51 1,062,292.58 XaL1sd1o 645,034.13 939,574.40 §60,635.00 5617.237.39 548,001.71 1,297.8¥8.45 2,389,075.91 1,064,317.27 835,635.04 715.474.10 88.5 $44,033.67 13,012.11 35,906.44 $56,788.33 24,334.02 8,823.36 25,632.35 42,227.35 13,856.38. 120,848.73 10,345.89 47451 2.100.44 62,876.74 $9,760.47 97,261.21 149.58 58,258.32 7,083.17 63,183,05 2,791.00 TRUST COMPANIES. $26,388.318.56 ,433,346.90 4,821,686.08 4,960,088." 6,617,608, 1|.'|g~6!l.11 $25,415.083.46 3,270,070.85 4.668.217.35 8.020,676.40 9.745,287.72 $973,235.09 163,276.05 $36,531.27 60,587.70 533,348.78 685,108.25 662,782.40 $08,302,356.30 $66.382,726.70 $2,920,629.60 'APITULATION. at'l Banks avings Banks Trust Companies Total 28.,170,726.07 68,303,256.30 REC, $104,098,103.72 $98,¢ 05: ‘z“ 91 S T$200,672,185.00 $100,862,870.45 $7.143,354.81 2,920,629.60 9,718,305.61 03.87 $345,676.50 65,382,726.70 ’ (Statement prepared by Audley P. Savage of the Natious! Savings and Trust Com- pang, ocia) statisician. REPARATIONS STEP HELD PREMATURE Wall Street Opposes International Conference Now, But Has Many Observers. By the Absociated Press. NEW YORK, July 11.— While ‘Wall street regards reports of an internationa] economic eonference to decide the reparations problem ‘ premature, the financlal com- 1Munity has a large number of ob- servers abroad or about These include Otto H. Kahn of Kahn, Loeb & Co.; Charles Sabin, chairma: and Francis Sisson. vice president, o The Guaranty Trust Company,. #ho salls Saturday; Willis Booth, viee| president of the anty ‘ust Company and president of the Inter- national Chamber of Commerce; Ed- ward R. Tinker, president of the Chase Securities Corporation: Fred Kent, vice president of the Bankers Trust Compa; months ago to attend the onal Chamber of Commerce meeting in Rome and has since been making a study of forelgn banking for the American Bankers Assocle- tion; and Andrew Mellon, Secretary of the United States Treasury. RECEIVERS FOR RUBBER Ry the Associatsd Press. NEWARK, N. J.. July 11.—Federal Judge Runyon has lpplol\l!d J. Philip Bird of Jersey City and Henry J. of Maplewood, receivers in equity for the United and Globe Rub- ber Corporation of Trenton. Thé re- ceivers are authorized to conduct the buriness for three months. Mr. Bird {s president of the corporafion. Assets were placed at $1,300,000 and liabilities at approximately $800,000. e Washington Stock Exchange. SALES. “washington Rwy. & Elec. 45—$1,000 at 7035, $1,000 at 70' at l"n(nmll Elec. g. & ref. 6s 19538200 at Bio & TiL, Te— 1,000 a0, at 108, Foomac Elec $1,000 at 106, $1, AFTER CALL. Rige! | Bank—4 at 640 i man Park Hotel n-—uooo “wntmum.n6 Gas Light—10 at lea:ClH lolll, 5 lnd @ per cel i lnrollulnn— 11” o1 and Trust Co, 10 at was BONDS. Bid and Asked Prices. PUBLIC UTILITY. n Tel. & Telea. 4o, |ll 4! t x de in error. Foto Potomac Elec. PorHiee: Pow. Bt Hec Pow. fln & ref, t. Yer. 3u.. lmc:u.u:om . C; Pam Mg, Ge. eean. % Searase Be. e Parx. Hotel" 6o: STOCKS. PUBLIC UTILITY. | American Tel. & Telgs Sapiar Traction . B omal” Bank ot Waahington. TRUST COMPANY. loan’ Security Truat. mer! a-d sm_ HUNTSVILLE, Al n eotton bléoms ars being réported "ln to s&il | d | will be worth $30,000,000 to FIRM TO RUN BUSINESS | & COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY DENVER, July 11.—James Duce, Btate oil inspector, estimated today that July importations of gasoline and ofl would show an increase of between two and three millions gal- lons over the usual July importa- tions. Dealers desire to fill every available storage space before August When the state tax jumps from 1 to 2 cents a gallon. ST. LOUIS, July 11.—Missour! s in better condition to move her wheat crop this year than every before, ac- cording to C. B. Dee, transportation expert for the Missour! Public Serv- fee Commission, today. More than 16,000 freight cars are on sidings. ! The railroads, although moving an unprecedented amount of freight, re- port a car surplus. FORT WORTH, July Year's Texas wheat crop. now moving under ideal 11.—Th! ch is weather, TowWers on conservative estimates today. PITTSBURGH, July 11.—Six weeks the present demand woudd badly deplete “stocks of window glass in both hand and machine plant ware- house; An unusual volume of busi- handled in the first halt of o( ATLANTA. July 11.—Auctions of Bright tobacco will be held in all eorgia markets July 25. The crop this year is unusually good in quality and quantity. KANEAS CITY, Julv 11.—Trade in farm lmplememu especially pair parts, is extremely active as Wheat harvest moves northward, the harvest season of harvesting other crops approaches. HOUSTON, July 11.—Texas can al- most hear the cotton money jingling In its pockets as a result of rains after the government crop report. | Barring a disastrous break in the market the state should receive the largest sum of agricultural money in its history this fall. NEW ORLEANS, July 11.—Plans are being made by the Governor of Louisiana and others for the boll weevil conference here in September. ufacture farm implements, fertilizers or cotton textiles will be urged to send delegates. JOPLIN, July 11.—Fifteen thousand miners are still idle in the tri-state lead and sinc fields, where 90 per cent of the mines are shut down. Some will reoj shortly, especially | as the price of zinc has gone up, but production will be curtailed 35 per cent, owlnx to lack of demand. STATE 'WANTS PLANT TO MAKE CEMENT Special Dispatch to The Star. 8T. LOUIS, July 11.—The Missouri state high commission aanounced today that, on account of the high pricés of cement, it will ask for bids fcr the erection of a plant to supply the state’s needs. The good roads program as now outlined will re- 8 uire the expenditure of $60,000,000. ement is now selling here at $2.05 106% | a barrel, to which must be added 50 to 60 cents freight and an allow- ance of 40 cents a barrel for sacks. The plant needed would cost about $2,000,000. UNCOMMON ACTIVITY IN LIFE INSURANCE HARTFORD, Conn., July 11.—Hart- ford life insurance companies in the first six months of 1923 have had one of the best periods in their histo “Th is & general expectation this surpass the banner year, 1920, in life Insuranoe. In regard fire insurance, opinion s divided. anluml in this line have increased 10 to 15 per cent over those of same period last year, but some executives fear a slackening in the fall. It is pointed out'that with Fine building m in various parts of the country and the resultant ncrease in insurance een increase in fires with far this has been a banner year fnr trnup insurance. The tremendous in the manufacture of automo- also been reflected in insur- ST. LOUIS, July 11 (Spectal).—The raiicoad s negotiating with acific for a_ track !hrouln the Elnt bottoms at Kansas City for a through line from here 16 the latter point. This would open & through line from St. Louls west and furnish a fast freight route from Kansas City to Chicago. PARIS BOURSE SPOTTY. - PARIS, July 11. —Prln'l moved ir- 2 Dy Tindny ‘n.BC trancs ‘:0 g‘ g:l‘:: ] n m‘ oo London, 16, franos’ 1 !’V. per ccnt Ioan, 75 fnn u ¢ dollar was quoted’at ll tnnn 77% emumu _ FIRST COTTON BLOOMS. 18, July 11.—First w eoumlu of northern Alaba: wn - rapidly in tl ang therd 'l m 1 8. u\m '.&ro has don o'are R0 cotion lq‘u . 8o All those commonwealths which man- | ‘PRIBES OF WHEAT AGANGOLOWER- Yesterday’s Break Followed by Another Today Under _Dollar Mark. By the Associated Press. CHICAGO, July 11. — Although wheat opened today at $1 or above per bushel, the price soon dropped to below the dollar mark, a rare event since before the world war, and for the first time this season. On the initial decline this morning July de- livery touched 99% cents and Sep- tember 99% cents, Dollar-a-bushel wheat arrived the Chicago market with the first carload of the new crcp. Cool weather in the northwest, with less Dessimistio orop reports from that section and less aggressive support for the market, resulted in an irreg- ular break of 21 to 3% cents a bushel, the September delivery drop- PIng to an even dollar. The Increasing movement of new wheat, weak export demand and hedging sales also contributed to the price break. Messages from Kansas indloated the blg movement of the new crop would start next week. The four leading southwest interior mar- kets had 324 cars of the new crop yesterday, making more than 700 in two daya. The government crop report, indi- cating less production than last year, ‘was,more than offset by the oppos- ing market factors. Corn resisted the depressing effect of the wheat crop, as did oats, for the most part, but rye and provisions dipped with wheat. Experts say that at $1 o bushel for wheat the farmer will gék less than the cost of pro- duction. Forced Selling Expected. Subsequently, the market under- went u moderate fresh decline, largely au a result of selling on the part of houtes with northwestern connec- tions apparently liquidating wheat which had been bought some time 2go on sccount of the scare about black rust. Rallies ensued later and the market closed unsettied, % to % cent net lower. September, $9% to 99%. and December, 1.02% to 1.028. It was a generally accepted fore- gone conclusion among wheat trad- ers that the market today woultl sink below $1 a bushel, and no special flurry took place. Yesterday's sharp deciine in price resulted in commis- sion houses last night calllng upon clients to furnish additional funds as a margin against possible loses. Such & call for margins naturally forced additional selling today and caused a further drop in values. RAW SUGAR PRICES IN ANOTHER BREAK Decline of Two Cents Since High Mark Reached Last February. on By the Assoclated Press. NEW YORK, July 11.—Raw sugar today declined 3% of a cent from yes- terday's close, Cubas touching 4% cents, cost and freight. decline of 2 cents since the high price reached last February. HOW COAST LINE WILL EXPEND $26,000,000 Largest Item Is for Freight Cars. $4,500,000 Ret Aside for Ninety- Eight New Engines. NEW YORK, July 11.—A statement issued to stockholders of the Atlantio Coast Line yesterday gave in detail expenses totaling $26,000,000 which have been authorized by the company in an effort to increase its transpor- tation facilities. As in previous in- stances where the roads have laid their case before the stockholders an appeal 18 made by Coast Line direct- ors that the security holders do ail within their power to ald in present- ing to the public “the true facts about the rallroads, including their present condition and financlal need.” The largest {tem in the éxpense list ls 000,000 for 5331 freight 3 nlud for 101 passenger $4,500,000 for ninety-eight locomo- tives. The remaining items include Sosooono for double tracking and grade reduction, $1,800,000 fm— shops and shop facilities, $1,300,000 for yard and other facilities Md $1,200,- 000 for ralls. DENY VAN SWERINGENS BACK NEW RAIL.DEAL NEW YORK, July 11.—Although the new chairman and two members of the board of directors of the Pitts- burgh and West Virginia Railway Company elected at yesterday's meet- ing are described’ as ‘“representing fmportant Cleveland interests,” de- nials continue that the Van Swerin- gens, who control the Chesapeake & Ohlo’ and several other important \nes, are back of the recent purchase by the Tuttle-Harriman interests of the holdings of the Metropolitan Life Insurance Compéany in that company. Clarence E. Tuttle after the meeting Teiferated that thers was no signifi- cance in the choice of the three new directors. TODAY’S COTTON PRICES. Early Advances Quickly Met by Heavy Selling Orders. NEW YORK, July 11—Cotton fu- tures opened steady; July, 27.20: Oc- tober, 24.00; December, 23.52; Janu- ary, $3.18; March, 23.12. The market opened at an advance of 21 to 26 points in response to relatively firm cables and continued apprehension of drought In the southwest or boll weevil damage. July sold up to 27.20 and October to 24.03 on the call, but the higher prices met a good deal of southern selling and realizing which caused more or less irregularity dur- ing the early trading. NEW ORLEANS, July 11—Cotton futures opened aulet. July, 36.80; Oc- tober, 23.26; December, 23.00; Janu- ary, 22.87; March, 22.65. ' Better cables than due and & more favorable view of foreign political conditions caused & rise of 11 to 24 pofnts in the price of cotton in the early trading today, but favorable weather over tha belt and expectations of at least fairly favorable weskly weather and crop reports from the government caused & reaction. NEW YORK, July 11—Cotton fu- tures, 11:45 m.m.: bids. steady. July, 20.76; October, 28.84: Dacember, 23.15; January ‘and ‘March, 22.77 B onmm.s 4ty 11.—Cotton am. bids, quiet. Juiz: n XTI Sctober, 32.98: Decemhpr 22.8 January, 22.74; March, NEW: YORK, Jul 11—Couon fu- closed ~'barely steady; Jul tober, 23 70823.72; Decembe; 828,24 nuary, _ 22.92a22 March, tll‘llli 04, quiet; niiddling, 27.70; —_— n Spot cotton The telephons company has aoms to the point where it is never out wrong aumbers.