Evening Star Newspaper, July 11, 1923, Page 25

F INANCIAL. m SEES HIGHER PRICES FOR BEEF STEERS Expert Expects Little Change in Hog Market for Long Time. BY J. C. ROYLE. Bpecial Dispateh to The Star. NEW YORK, July 11.—Cénditlons in the livestok industry today are such a8 to warrant the prediction that good western beef steers will be selling this fall at from $15 to $20 a head higher than last year, according to A. E. De Ricqles, president of the American Live- stock and Commission Company of Den- ver and one of the foremost cattle men of the country. rom $750 to $10 a head above last "«s figures,” ho said. “And there ery reason to believe that prices will be much higher by the time the large #hipping season opens. Cattle in all the } Good b_rpattle now are selling at Western and Intermountain states are | in fine condition as a resuilt of moderate ‘weather last winter, which allowed them to come through some flesh, and E rondition of pasturage due to early rains. Hog Prices to Stay Down. “The sheep industry because of inac- tivity of the wool market, is not up to the mark attained by ca there is a good and lambs. Hog prices are low and the packers are receiving too many to bring about a favorable reaction. Stores of cured meat are accumulating and_there is hardly any export market ‘There- fore hog growers are not likely to find much improvement for some time." The trend indicated by Mn De Ricqlues is_confirmed in packing cen- ters like Kansas City, Chicago and East St. Louis so far as the accu- mulation of pork products is con- cerned. Meat prices have followed live stock prices up with advances at e and retall in Boston, . Philadelphia and other cen- Business Improving Prospects for the cattle business in the middle and southwest are decld- edly better than they were two months ago, according to reports from Texas, Oklahoma. Kansas and Mis- sourl. The flooded market which re- sulted from heavy selling of stock carly this yvear fo secure funds to liquidate last year's debts has been dried out and with ranges generally in good condition for fattening cattle there is no reason why stock men should not reccive a better return this year than at any time since the wa If cattle prices continue on their upward trend as indicated there is every reason to believe meat prices will do ltkewise. Trged to Hold Wool for Rie. J. B. Wilson, secretary of the Wy- oming Wool Growers' Association, has sent a letter to all members strongly urging them to hold their wool for higher prices. “Do. not sacrifice vour wool." wrote, “we belleve wool prices in this country will be higher just as soon as the mills start buying.” The Boston wool trade believes the mills must certainly be forced to enter the market shortly, as they have held off from purchases for some months and have been run- ning mostly at full capacity. Most of them are waiting for the Ameri- can Woolen Company to name its light-weight prices for next season. This, it is felt, will give an idea of how far finished goods prices can be advanced without a check to con- sumer buying, although the big man- ufacturing concern is known to have covered u large part of its season's requirement, buying direct from the grower. Prices paid are believed to have ranged between 45 and 55 cents I the grease. New England Buying Southern Mill The cotton goods industry shows no betterment as a result of the cur- tallment of production by leading cotton mills. Some reopened this week, but those which have been running on short time are expected to continue to do so. Consumers will not buy at prices sufficiently high to cover the present high cost of the staple. Meanwhile evidence accumulates of the growing financial interest belng | he Home Furniture LOANS om $50 to $300 on D. C. real estate, household goods or chattels. 7 per cent interest. No brokerage charged. Come {u and let s expisia our metuod of making smail ioans. Commercial, Loan & Flnance Corporation Room 211, 1,000 Miller Train | Control at $1.50 a share. 40c a share cash, balance by the month. Thomas L. Hume Broker 1412 G St. M. 134‘ acquired by New England textile men | in “southern properties. Lockw Green & Co. may secure the comtrol of the Victor Monaghan Company of South Carolina, operating one of the most important manufacturing s tems In the south. Its holding: clude elght mills, with a total spin- dlage of 240,000, TWO NASH DIVIDENDS. Motor Company to Pay .3.50 Per Share on Common. NOSHA, Wis, July 11.—A divi- dend of $8.50 per share on the com- mon stock of the Nash Motors Com- pany was declared yesterday at the quarterly meeting. This dividend is payable August 1 to stockholders of record July 20. The regular uarter- “We” —have on hand several 7% Loans 1 for $6,000 1 for $5,500 1 for $5,000 1 for $3,250 All bearing 7% Interest and run for 3 years. In denomina- tions of $250 and up. Chas. D. Sager 924 14th St. N.W. Loan Department very REPORT OF THE CONDITION of the CHEVY CHASE SAVINGS BANK, At Washington, o the Diatrict of Culumhll at the close of business June 30, 1923. RESOURCES. and dis- includiog rediscounts, accept- ances of _ other banks, aud foreign bills of exchange or drafts, sold with indorsement of this bank (except those shown in b and c) 8] 1. a Loans counts, $136,188.44 107.37 15,000.00 64,182.14 5.692.62 25,003.73 nnl»r *ponids, stocks, o Banking fixtures 7. Renl esta banking house 10. Cagh In vault and amount due national banks... 14. Chiecks on banks located side of city or town of rej jug bank and other cash it 16. Other assets— interest Auciliacy benks securities. 002 05 26,08 Total Time deposita (payab o atier 30 days or subject to 30 days’ more notice) and postal ngs: joates of deposit than for money boOrrowe 38. gther time deposits .- Total of time deposiis, 31 and 38.. $02, fother ed).... Tot: Digtriet ) ity of ' BZRA TROTH, cashier nasied’ Dack. - solemnly’ sweAr that the ‘above 25,348.38 | 4. 23, THE ly dividend of $1.75 per share on the preférred A stock was also allowed. Vice President and Contrelter W. H. Ford reported a net income for the [ second quarter of the fiscal year after Money to Loan ]oscmeller a“,‘m EVENING STAR, WASHINGTON, Becurad by Sret deed of Wast en resd estate. L. & Trvat D. C, WEDNESDAY, JULY 11, 1923 deducting expenses of manufacturing, d-preclnlon. selling, admintstration, local and ,federal taxes of ub”.‘flb &7, as againft $1,673,241.78 for the pre- vious quArter, Prompt Aetion REPORT OF CONDITION Thomas & NATIONAL CAPITAL BANK, W, At Waskingtoo. at “.‘:I.ml .‘:]ll'.‘ Fisher 788_15th _Btrest LOAN AND TRUST COMPANY At Washi the ol et of Columbla, a8 on June 30, 1023. ose’ of business June 30, RESCURCES. 1. & Loans and dis- iog_rediscounts, aeceptances of other banks, and forelgn bills of exchanj b and ¢) “Total loans u unsec: Toans 2. Overdratts, secured dnd un- « Depostied to se- cpre circulution bonds, par v-lun niioq $100.000.00 b All other Uj Bea ey e ey e Peuspiad oy Vil bamk to ‘create dollar czchange 1ad ‘s outatanaing . en Banking Fod . r-%m;;m and fixtures, . 58,4000 2 SR e Taniing hovse; 248450.00 4o, cagh in' Vet and wmoint dise 536,743.75. .500.. 50,000.00 feserve with federai bauvk 107,307.62 In vauit and amo from national bauks. 107,581.87 . Amount due from state banks, bankers and trust companies in the United States (other than tmcluded. fa itews 8, 9 and 10)... Exchauges for Gleariug Checks on otber banks in th sawe city or town as report- fng buk other than ltem com- Danien n tha Tolted States (othier than ncleded tn tter of clty or town of re- portiag b lflnk and other cash . Other asseta. Total LIABILITIES. Capital etack pald in. lus fund Undivided peoiits. . §237,552.51 & Reserve for . B Miseottanboi chak o . Redewption fund with |Mllll\'l' and Il\le A'mm U. Olhtr Total ets . LIABILITIES, Caplta: stock paid fu. Surplus fund .. Undivided profits. $200,000.00 200,000.00 than_iucluded in items 21 d 22). 92,084.54 | 23. Certifled chiecks ouistandin 148,805.00 | 24. Cashler’s checks outstanding Toal, ot lteme Gireulating notes outstanding. Amount de to Federal Reser, - $137,156.71 Demand doposits (other than Dank_ depesite) | (Degonits payable within 30 days| Amount due to state banks, Lankers and trust companies in the United States and forelgn countries (other o lhln included in items 21 s Be1L20T o n less tian 30 days (other than for money borrowed) . State, county, or other muni secured by “hecks outstanding 1,845, otal of items 21, X 2.7 . Diviichds uhpald. 057. Total of dlmlnd new-m (other than bank tu) 1,176,534.81 postt ‘due in 30 days (other payable after o ,’ than s, or subject to 30 oF mors” uotice) ad Dovtal sacing Certificates of deposit (other than for money borrowed. for money borrowed . Dividends unpaid Total of demand d-pesits (otier thun bank depos to reserve, item: 20000 12,836,350 i81 |38 1o after 30 dags, | pey: or subject to 30 day te motice, and post:l 3s. e Than postal serings) inciud- i ing war ‘loaa depoaic ac. 18.527.50 | count and avings deposit l'nlled Siates of time deposits subject reserve, item 85.318, Bills paysble (includin, obligations representing mon- ey borrowed other tham re- discounts) . . Linbilities othe above stated posits of “ainbursing |40, Letrers ‘of credit’ wud ‘trave | ers’ checks sold and outstasding. £0,000.00 | 1020143 |}, JOHN 'B. LARNER, president of bove-named bank, kuowledge and belief. sathed ek 40 sulembly o he_above o s . fement 18’ trie o the best of My knowledge e hetter. ® s EARATROTHY, Cashior: ‘Suberibed and sworn to before e this Hth day of Julv. 1023, (Seal.) WM. H. DORSEY, Notars Public. Correct—Att Directors. EQUITABLE Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Assets . 84,750,763 Surplus 91,207,281 Cultivate the Habit of Saving 1t you would save with the Best results, join the Equitable and save systematically. meription for the 85th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. NW. JOHN JOY EDSON, Presideat FRANK P. REESIDE, Seey. REPORT 0!‘ CO)\DITIOV LIBERTY NATIONAL BANK. At Washington, in the Dlutrlct orsgolfl’?bh at the close of business on une 30, RESOL RCES. . Loans and discounts 2. Overdrafts, unsecured. U 8. government securi $1, 11!.‘111 53 7.68 . Other bonds, stocks, -securmes, ete. . Banking house, $22! 0.09; furniture and ,?xlures . Lawful reserve with federal reserve ban . Cash In vault and amount due from national banks. 23631319 . Amount due from state banks, bankers and trust compa; in the United States (other than included in items 8 and 10) Toul of items 10 and 11 . Other assets Total 120.49 . 895.65 e T TS LIABILITIES. . Capital stock paid in . Surplus fund .. . Undltvided profits . Amount due to federal Feserve banis (deferred credts). . Amount due to national bank: . Amount due to state banks, blnkar vesen !50000000 it ' trust companies in the United States and foreign countries (other thnn included in items 21 or 22).. . Certified checks outstandfng. . Cashier's checks outstanding Total of items 21, 22, 23, 24 18,1401 nd Demand deposits (other than bani serve (’;enonm payable wuhlu 30 days) . Individual deposi money borrowed) . Dividends unpald . subject to check . . Certificates of deposit-due in less than 1,133,317.24 8,370, 17,58 Total of demand deposits (other than subject to reserve, items 26, 27 and 30. Time deposits subject to reserve ( days’ or more notice, and po: n for money borrowed) #ubjeot to 30 Certificates of deposit (other thi Other time deposits .. Postal savings deposits Total of items 33, 34 time a.pa-m subject ' to Teserve, and able l. ‘or nr‘), 48,914.70 1 u‘l 45493 $1,264,373.31 . Notes and bills redigcounted, lncllldln‘ ‘acceptances of other ‘banks and foreign bills of exchange or drafts sold wits in- dorsement of this bank Total . Dlnrlct of Columbid, clty of thln(nm. 8s. 1, M. F. CALN. 25,000.00 sireaneesaiaien s $3,185,461.20 /, cashier of the above-named bank, de solemnly swear that the above statement 18 true to the best of my knowle m and bfllll. Subscribed and sworn to before me (his atn Gy of Jarg, 1083 i ARD Fub Correct—Attest: 3. O. WALSON. 2 3 NeQUADE F. RIGGS, Notary ¥. H. MORHART, lic, D. C, Dirsaters, Satcment fa true 1o the best OF my lm-l«lau o€ Juiy; X edge and belief H. C. STEWART, Cashier. | Subscribed and sworn to before me this 7th | day ot July, 108, CHARLES A. McCARTHY, Notary Publie, D. C. | Correct—Attest: LTER H. MARLOW, Jr., H L. 'W. ESTES, Jc*(;."‘li 3 E ¥.'DONOHOE, | ?“"E“p"n’z'am SANL. G ERERLY, 3 - CKER, i JoaN X" SouNsTo, Directors. REPORT OF CONDITION Federal-American National Bank HERBERT A. POOLE, Notary Publle, D. C. Correct—Attest: Pmtflortgqel.o.m Towest Rates of Interest sud Commisslon. & Company, Inc. ‘_nmfiwm— THE WASHINGTON the Disteict of Columbla, at on, in the o 941,805.82 250,000.00 1,049,041.47 025.. | District o coiumbia; ¢ty w--nlnnm w: olemaly” swear that the | bove statement is true to the best of my Subscribed -:;s--mm 10 betord me thia Lot Directors. ceptances of other banks, e or drafts sold with indorsement forelgn bills of exchang: of this bank (except those shown in band<)..$1,403,] .61 ‘Total loans . 5 2.yOverdrafts, unsceured, §1, 132.84. 44U, 8. government securities owned a Dipollted to secure clrnullnnn (U. 8. bonds par ue) $250,000.00 b All other United states ‘overnme-l Becurities (in- €luding Premiums, If ANY)....psescusenssssw 320,969.77 'otal . Other bondu stocks, securities, eto. ~ . Banking house, $324,819.70; furnitute and flxlurel. $48,738. 87, . Lawful reserve with federal reserve bank. . . Items with federal reserve bank in process of collection Cash in vault and amount due from national banks... Amount due from state banks, bankers and trust companies in the United States (other than Included in items §, 0 and 19) Exchanges for clearing house Checks on other banks in the same city or ln'n as reporting bank (ether than item 12) Total of items 9,10, i, 12 and 13. $178,3832.94 . . & Checks and drafts on banks ‘(including federal re- serve bank) located outsifle of city or town of reporting bank ..... b Miscellaneous cash ltem 43,3 .$576.95 . 146.28 toeasurer ahd dne drom U. 8. Redemption fund wm treasurer 3 . Other assets, If any .. A . Total ........ . Capital stock pnld in. Surplus fund . 3 . Undivided profits . Circulating notes outstanding . Amount due to federal peserve bank (def!rred cmum - Amount due to national bauks . Certified checks outstanding. . . Cashier's checks outstanding % Total of ftems 21, 22, 24 and 2. $91,918.08 Demand deposits (other than bank deposits) subject to re- serve (deposits payable within 30 days . Individual deposits subject to check. - Certificaten of deposit duo In less than 0 davy (other than for money borrowed) . i Dividends unpald . . Other demand deposits . Total of demand deposits (other than bunk deposits) sgblect to reserve, 4.0 1,057, items 27, 30 and 3. .$1,086.608.47 Time deposits -ubjen( o reserve (payable afier 30 days, or subject to 30 days’ or more notice, And vonul nvlng. . Other time deposits...... . Postal savings deposits . ’Laul of time deposits subject to remerve tems 34 and 35 -yahle (including all obligations representing money wed other than rediscounts) i 3 Bllll ‘Tota) District of (ulumbll‘ city of Washington, sa- L. SELBY. cashler of the above-named bank, do solemnly swear I H. L. that the above atatement s true to the best of my knowledge and belief. H. L. SELBY, Cashler. Subscribed and sworn to before me this 10th day of July, 1923, (Seal.) Correct—Attest: H. V. HAYNES, CHAS. H. CRAGIN, J. E. DYER, HENRY W. FISHER, WM. KING. JOS. H. LEE, G. L. NICOLSON, o6 WM. C. GWYNN, J. WILBUR SHERWOOD, E. T. SIMPSON, THOS. J. STANTON, ROBT. D. WEAVER. RAYMOND J. WISE, 51 70 HARRIMAN & COMPANY Members New York Stock Exchange, | 111 Broadway. New York WASHINGTON OFFICE COLORADO BUILDING Telephone, Main 1603 G. B. CHIPMAN, Resident Partner Washington, in the District of Columbla, at the close of business on June 30, 1923, RESOURCES. . & Loans and discounts, including rediscounts, ac- ceptances of other banks, and foreign bills of exchange or drafts sold with indorsement of this bank (except those shown in b and c). Total loans. . Overdrafts, unsecure . & Customers’ labili; executed by this bank and by other bank! for account of this bank, and now outstanding. 510.000.00 . U. S. government securities owned a Deposited to secure circalation (U. S. bonds par value) b All other United States government securities (Including premiums, If any).......... $ 800,000.00 1,428,638.87 . Other bonan stocks, securities, etc. . Banking house, $457,000 furniturs and fixtures, $27,011.75.. Real estate owned other than banking house 5 . Lawful reserve with federal reserve bank . Items with federal reserve bank in process of collec 80,742.1 . Casn in vault and amount due from national banks . Amount due from state banks, bankers and trust comj in the United States (other than Included in items 8, and 10) . Exchanges for clearing house . Chceks on other banks in the same city or town as report- inng bank (other than item 12) Total of items 9, 10, 11, 12 and 13. . a Checks and drafts on banks (including federal reserve bank) located outside of city or town of reporting bank.. S b Miscellaneous cash items. $12,356.27 178.41 15. Redemption funds with U. S. treasurer and due frdm U. 8. treasurer ... = . Other assets, if any.. Total LIABILITIES. . Capital stock pald in. . Surplus fund ... Undivided profits . 5 _ & Reserved for interest and taxes ac- crued ... b Reserved for depreciation on bonds and securities 1! ..$207,089.50 49,855.11 4,176.99 $261,121.60 Circulating notes ou 3 . Amount due to fede; reserve bank (deferred credits) Amount due to national banks..... ‘Amount due to state banks, bankers and trust companlel the United States and Zorelgn countries (other than lll- cluded in ftems 21 or 32) . . Certified checks outstanding. Cashier’s checks outstanding. sraae . Total of items 21, 22, 2 14 Ind 25 $476,777.37 Demand deposits ( ) its) subject to re- serve (deposits p. ble within 30 dty!)' Individual deposits subject to check. . Dividends unpaid . Other de d deposit Total of demand dlvoll(l (onur than bank deposltl) subject to reserve, items 286, 0 and 3 $7.060,351.46 me doposits subject to reserve (payable after 30 days, or ubject to 30 days' or more notice, and postal savings): 33, Coruflc f deposit (other than for money borrowed) 34. Other time deposits. 35. Postal savings deposits . Tulll of time depoli!l subject to reserve, ems 33, 34 and 35 .. $2,507,581.80 36, United Staten doposits (sther than Eml vings), including - ‘war loan deposit account and deposits of United States disbursing officers B seeane 39, Bills payable (lnehll’“fl' all ohll(‘(loll nnr ant!nt money borrowed other than rediscounts). . 41, ufill‘l“of credit and travelers’ checks sold for cash and out- 1 NG oioiiieninns evraes 261,121, 786,500. 108,677.86 252,934, 0. 21, 22, as. 24, 25. l‘. 1,439.. Distriet o or Oolumbh, County 'of ‘Washington, ss.i 1, CHAS. D. BOYER, cashier of the above-named bank, do sol lef, 'HAS, D. BOYE! r, Subscribed and sworn to before me tlll 10th dly of July, Beal. MILLARD 8 YEATMAN, Notary Publie, D. C. Co&‘rtcrt—GAueltl J\)HN POO! w HAR l,‘ % 708 MTER COHEN MW& " - Directors, 10,000. 2,228,638.87 1,371,687.1 ,011.76 478,168.00 818,329 08 52,423. 340,435.38 135,181, 12,534. 40,000. 74,472. cresessesssessrasreransas.$13,643,580. + $1,200,000. . 550,000 68,3111 13, 7,037,867.38 31,044.50 141,348.30 560,000.00 swear thn the above statement is true to !hacbut. of my knovln%:h?‘nl be- 931 e Flrst Mortgage Loans Made On Improved Properties (Including Residences) In the District of Columbia 51/2% Interest Reasonable Annual Curtailments Required 00 57 513,754. tH Loans for Less Than $50,000 May Be Paid in Whole or in Part at Any Interest Period Without Charge H. L. RUST COMPANY Main 6888 44 65 Loan Correspondent for the ' Prudential Insurance Company of America 6 — — 00 58 43 00 00 TRA” DIVIDENDS—JUST A STEADY INCOME NO 60 00 72 . : How you invest your money is no less important than how you made it. Wrongly invested, it may be of more harm than benefit to you. When you buy our FIRST MORTGAGES —jyou pay only for investment satisfac- tion, which contains no “extra” divi- dends and offers no premiums. 68 Quarter of a Century Without @ Loss The safety of your money and the regularity of the income from our mort- gages are the outstanding qualities of every investment we offer. ‘We shall be glad te submit you imvest- ments to suit your requirements. —— ceervirrrereerrers s $13,643,580.43 B. F. SAUL CO. Main 2100 Farmers and Mechanics’ National Bank At Washington, In the District of Columbia, at the .clobe of .busimess on’| REPORT OF CONDIHOV June 30, 1923 REBCERCEB. 1. & Loans and discounts, inciading rediscounts ac- H +.$1,403,668.61 1,132.81 ' S y 470,959.77| 1,146,704.47 | 373,668.67 188,002.71 | 32,097.23 4,224.71 | 28,372.18 10,324.76 { 723.23 12,600.00 | 20,667.76 L 3796,100.86 $252,000.00 298,000.00 109.047.26 | 245,800.00 | 4.826.80 2.744.18 $0,329.32 | | | 71.62 | 8.040.60 20,588.00 | . 1,611,667.12 16,109.93 85,000.00 $3,796,150.86 FREDERICK W. SEIBOLD, Notary Public. Directors. 14.07 | 18.00 | 912 15th Street 1412 Eye St. N.W. FINANCIAL." WANTED Second Trust Notes We have clients who have funds amounting from $500 to $100,000 for purclm-;c of second trust notes. Low rates if security is good. SHANNON - & LUCHS Mortgage Dept. 713 14th St. Main 2345 NEW ISSUE $500,000 The Potomac Joint Stock Land Bank Washington, D. C. Operating in States of Virginia and Maryland United States Government Supervision 5% Farm Loan Bonds © NOT CALLABLE Before July 1, 1933 Dated July 1, 1923 Due July 1, 1953 This bank is a member of the Federal Farm Loan System, created as part of the banking system of the United States, and its bonds are by the Act of Congress declared to be instrumentali- ties of the United States Government and exempt irom Federal, State, Municipal and Local taxation. Price 103 and Accrued Interest to yield 4.62% to July 1, 1933; and 59 thereafter BROOKE, STOKES & CO. Members Philadelphia Stock Exchange 732 Seventeenth Street N. W. Washington, D. C. 300 North Charlew Street Baltimore 15th and Walnut Sts. Phladeiphia Bond Salesmen An Investment Banking House of national scope and reputation has an opening in its Washington office for one or two young men of aggressiveness and personality whose education and experience fit them to build a clientele among large investors. A thorough course in the fundamentals of bonds and finance will be given in the home office to those chosen. A real opportunity for a future in the business is ofiered to the men accepted. Salary and commission. Address BOX 138-Y, Star Office 6%2% and 7% On Partial Payments ETHER you start with a partial payment of $10 or make an out- right purchase 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 ———— e NO LOSS TO ANY INVESTOR IN 50 YEARS Call, write or phome Main 6464 for the booklet describing our Investment Savings Plan <Jhe F.H.SMITH CO. Founded 1873 FIRST MORTGAGE INVESTMENTS SMITH BUILDING 815 FIFTEENTH ST.