Evening Star Newspaper, July 15, 1923, Page 32

0 My FINXNCIAL THE - SUNDAY STAR, WASHINGTON, ‘D. C, JULY 15, 1923—PART 1. FINANCIAL. - ety UG teaiveose AR s s i S RINANGERIE. PRESIDENT AND VICE PRESIDENT - NAMED FOR NEW.TAKOMA BANK L. S. Cannon and A. L. Haislip Are Se- ,Jected —Local Firm Mails Dividend Checks—Unlisted Security Prices. Luther S. Cannon, attorney in the internal revenue department of the Treasury, has been named president of the Citizens' Park, and A. L. Haislip, a leading business man of that center, has been selected vice president. The bank is only in process of organization, but officials of the institution believe it will be ready to start functioning in prebably a month. James L. Wilmeth, former director of the bureau of printing and engrav- ing and prime organizer of the new institution, was originally slated for the presidency, but it is understood Mr. Wilmeth has embarked on a busi- ncss career in Delaware. where he will make his future home. The Citizens' Bank of Takoma Park is located at the intersection of Laurel and Carroll avenues, at the terminus of the 14th street car line, and is capitalized at $50.000, with a surplus of $12,500. Leading “citizens of the Takoma Park vicinity yesterday expressed themselves as well pleased with the omicors of the institution thus far named. A cashier has also been s lected. it is understood. and will be offically named some time this week it was said. Dividend Checks Malled. Stockholders of the National Mort- gage and Investment Corporation will receive semi-annual dividend checks approximating $76,000 the first of the week, they having been put into the mails vesterda The corporation is maintaining an § per cent annual rate, pavable half vearly. It has an authorized capitall- zation of $10,000,000. $5.000,000 of common and a like amount of pre- ferred, of which approximately $3.- 600,000 is paid in Earnings and surplus aggregate about $250,000, it was said. Phone Company’s Earnings. Earnings _of the American Tele- phone and Telegraph Company for the six-month period ending with June 30, 1923 totaled $65.169,377.90, net- ,081.99, after deduction of taxes, as compared with $40,619.9 for the corresponding period of last Interest deductions amounted ,664.49 during the latter per- ile the amount of $30,549,963.16 disbursed in dividends. leaving a_balance for the period of $10, 454.34, as against a balance of 078,286.22 h vear. H. B. Thaver. president of the com- pany, has forwarded the following letter. under date of July 16, to all stockholders. “The change in economic conditions brought about by the war made read- justments necessar. Wage scales were studied and readjusted by us without delay in anticipation of the approval of the higher charges for service which higher wages, higher costs of material and higher taxes made necessary. To obtain approvals of these necessary adjustments in charges for service the Bell Telephone system as a whole made many ap- plications to state commissions. Some cases have involved single cities or even single rates, while others have nvolved all the rates charged in BIG CURTAILMENT IN TEXTILE MILLS for the first half of last Pall River Plants Make 50 to 75 Per Cent Cut in Present Output. By the Associated Press. FALL RIVER, Mass., July 14 general curtailment of from 50 to per cent in production, affecting princi- pally plain goods mills, has been agreed upon by manufacturers here as a re- sult, it is said, of the present depres- slon in the industry. The production weekly in this city is estimated at = 000 pieces, and under the curtailment plans it will be reduced to between 100,000 and 125,000 pieces. Weekly sales in the print cloth market have reached over 50,000 pieces but twice in a num- ber of months, and there were occa- sions when the total was as low as 20,000. BUSINESS AT GLANCE. BIG STONE GAP. Va. July 14— Coal land in this section will be de- veloped by the Sandy Ridge Coal Corporation. which has been organ- ized with James W. Gerow, president, and R. T. Irvine, secretary. The cap- ital stock is $350,000. RALEIGH, N. C, July 14-—The state will 'require $15,000.000 for financing its road and bridge con- struetion during the coming twelve months, and has borrowed $5,000,000, with $10,000,000 under negotiation. LYNCHBURG, Va.. July 14.—The Old Dominion Garment Company has awarded a contract to C. W. Hancock & Sons for remodeling construction of its building at a cost of $100,000, providing for 85.000 additional feet of floor space. which will be equipped with machinery to cost $150,000. EX-DIVIDEND TABLE. Am o v, q Atlantic Ref Bf., a..... Austih Nichols pt., q Commonwealth Power pf., Conn. Mills 1st pf., 0. Moon Motor Car, Mulling Body pt., .. ... Nat. Dept. Stores 1st pf., Packard Motor Car, Packard Motor Car, Phila. Rapid Transit, Savannah Sugar pf.. q Salt Creek Prod Salt Creek Prod., Swift International, United Cigar Store United. Drug 1st Ventura Cous. Ofl, West Penn. pf. q. July 1 Amalgamated Sugar pf., q Louisville & Nashville, s Reading Co.. q. : July 15— a extri a. Loose Wiles Bi July 19— . 1.00 Sholl Trad. & Trans, Am., s L118% —_— UNIVERSITY TO CONTINUE "THOUGH IT LOSES PLANT Valparaiso, Ind., Institution’s Head Comments on Revoked Lease. Enrollment Once Large. the Associated Pres: NDIANAPOLIS, Ind, July 14— L‘Ma of the building and land occu- pigd by Valparaiso University at Val- paraiso, Ind., to the Cook Labora- torjes Company of Chicago will not reSyjt in the closing of the institution, agcording to its president, Dr. H. M: vans. X “Announcement that the university's lease on the buildings and grounds had been vevoked for failure to meet rental payments was made here last i ‘3" Evans did not epecify the future plans of the institution, but declared that the university “will continue on as in the past Several years ago ‘Valparaiso was credited with having the largest enroliment of any univer- sity in the world. - Tts aftendance ‘Wlndhsd during the worid war. * Bank of Takoma! state. In over 90 per cent of these cases we have been able to accept the decisions of the commissions. Where we have had to appeal to the courts they have generally supported our con- tentions. ~ During the past three months two decisions involving very important principles have been decided in our favor by the Supreme Court of the United States. “On July 1 the Bell system, after having provided for payment of the mortgage bonds of the Illinois Bell Telephone Company which mature in December, had on hand cash and temporary cash investments amount- ing to over $120,000,000 to provide for the continuing growth of the business. /The percentage earned on the capi- tal stock of this company, including its equity in the undistributed earnings of the associated companies for the half year past, will be somewhat bet- tre than that of the corresponding haif year of 1922." Unlisted Security Prices. The following latest bid and asked prices for unlisted securities on the Washington Stock Exchange are printed for the guldance of holders of these issues: B0 Afmy and Navs Clubs & Cosmos Club 45, Cosmox_ Club_ 4% City Club Tx A SMetropolitan Club 43as. Anacositia Bani St Amer. Comm'l and Savigs Hank. . Bauking Trust and Mortgage. . Chapin-Nacks 8% pfd Christian Heurich Brew'y Citizens Savivgs Bank Conecticut Ple Co. Columbia Hotel Co.. Departmental Bank District Title Ins. Co.... Exchange Bank Franklin National International Bank Munsey Trust Co............. North Capitol Savings Bank Northwest Savings Bank. 2 Northeast Savings Bank.. Park Savings Bank Potomae Savings Banl Standard National Washington Title Washington Bas Woodridge & Langdon S Bank Bank Expansion in China. Hew Fan Un, New York agent for the Bank of Canton, Ltd.. of Hong- kong, China, has just received ad- vices regarding the opening of a branch of that _institution in Hankow, China. This new branch is situated in a strategio business city 700 miles up the Yangtze river and will handle a large volume of busi- mess from the hinterland. ankow is an ocean port, being navigable for fairly deep draught ocean-going boats. notwithstanding its great distance up the river, being relatively as far up the Yangtze as St. Louis is up the Mississippi Tt ‘was the center of an enormous brick tea trade with Russia before the war and Is popularly known as the Chicago of China. Mr. Un re- ports a healthy condition of trade between China and the United States and is of the opinion that the polit- feal and bandit disturbances have had no appreciable effect on business in China, which generally pursues a healthy ~ course under conditions which, to forcigners, are often over- mphasized in importance. 'MONEY QOTATIONS WITHHELD IN BERLIN Failure to Publish Rate on Dollar Causes Trouble for Tourists. B the Associated Press BERLIN, July 14.—For the first [time since the mark’'s depreciation began no official quotations of foreign | currencies were announced today. This created confusion, not only | for speculators in dollars, but also |for business men and tourists, who | were unable to buy German currency. | The banks refused to buy any for- {eign banknotes or checks at yester- | day's official rate, at which the dollar | stood at 187,000. They told their pa- | trons that it was impossible for them | to do so, because they could not get | mark currrency themselves and were | not permitted to sell foreign moneys. The Clearing House Assoclation had proposed that official quotations | be announced only three days weekly, but the stewards of the stock ex- change. while still considering the proposal. decided for the present to | make "the suspension apply only to today, deferring definite action until | next” week. SATURDAY BOND PRICES FIRM IN LIGHT TRADING By the Assoclated Press. NEW YORK, July 14.—Today’s bond market was & dull and listless af- fair. Net changes were unimportant | but generally upward. | United States government bonds | after moving up slightly, reacted at | the close for a net loss of from one- thirty-second to two-thirty-seconds lof a joint to two-thirty-seconds | bonds were steady, with few transac- tions. Little or no interest was shown in |rallroad mortgages, but the small | number of trades were recorded at | slightly higher prices. Interborough Rapid Transit 7s gained 1% points. | _ An advance of 1% by Manati Sugar 7%s and a drop of 1% by Interna- tional Mercantile Marine 65 were the only outstanding changes in the in- | dustrial group. | Total sales (par value) were $4,- | 488,000. —_— CERTAIN CURB STOCKS GAIN DURING WEEK By the Associated Pres NEW YORK, July 14—Although business was restricted to small vol- ume and continued hesitation was shown by those concerned in the va- rious corporations whose shares are traded in on the New York curb mar. ket about adding to their holdings, the tone generally was firm and some stocks, especially in th> late trading, made substantial gains. Chi- cago Nipple was one of the most prominent features during the week, buying of that stock being based on expected_dividend action in connec- tion with the paying off of a small amount of accrued dividends, leaving the “B” stock In line for distribution. There was a brisk moveraent dur- ing the first hal? of the week in Gil- lette Safety: Razor, which made a gain of 6 points, and Armour & of Illinols preferred shares moved up 5 points. ‘There was & marked falling off :n the trading In mining stocks, and a number of the better class of those issueg sold at declines. Independence Lead, however, was & strong feature. WOUNDED WIFE MAY LIVE. HIGH POINT, N, C., July 14.—The body of Grady Taylor, twenty-two, who, according to the coroner, committed sulcide last night after shooting and s<riously wounding his wife, Mrs. Jen- nie Taylor, was belng held today to wait arrival of relatives from Greer, §. C. Mrs. Taylor reacted favorably from an operation, it was said at the hospital, and s expected to recover. The double “shooting at the Taylor home here followed domestic troubles, police said. OPTIMISTIC ON WHEAT. Eugene Meyer, jr., managing di- rector of War Finance Corporation, states predictions as “to excessive stocks of wheat are more pessim! ::han warranted. RANGE OF MARKET AVERAGES HEEENLNAMNE REENLF HERY.# The chart above shows the high and low. tive stocks dealt in on the New York Stock April, 1921, up to and including the second week of July represents 20 indust and outline ¢ volume of sales of all stocks Wall Street Journal ) 'l AL urve 2 Averages uscd are those compiled by the LS by weeks, of forty representa- change, from the first week of 1923. Solid curve 2 Lower section indicates 0 rails. The Year 1923 to Date on the Washington Stock Exchange. Up to and including Frida. Furnished by W. B. Hibbs & Cq Sales. BONDS. $7.000—C. and P. Tel. of Va. bs... 4.000—Ana. and Pot. River R. R 33,000—C. and P. Telephone 1st 5 134,000—Capital Traction Ist 5s X jeorgetown Gas Lt 000—Metropolitan R. R. 45,000—Pot. Elec. Power 1st 55 000—Pot. Elec. Power cons. is. lec. Power deb. 6s Elec. Power gen. G5 h., Balt. and Annap 8 ash. Gas Light gen. bs 194,500—Wash. Ry. and Elec. con 28,000—Wash. Ry. and Elec. gen. 6 55,200—Wash. Gas 7%s B 33.800—P. E. P. w. L. 200—P. E. P. s . §00—Dist. of Col. Paper Mfg. 6s. 15,000—Riggs Realty (long) b5s. 4,600—Wash. Market Cold Stge. 16,500—Waraman Park 6s. £ STOCKS, Capital Traction 1st 208—Commercial National Ban 71—District National Bank 13—Farm. and Mech. Nat 7—Liberty National Bank:. 54—National Metropolitan Bank Riggs National Bank Federal-American ... —Amer. Security and Trust —Continental Trust ... National Savings and nion Trust . 42—Wash. Loan and Trust.... 259—Merchants’ Bank. and Trust. 20—East Wash. Savings Bank —Sec. Sav. and Com’l Bank 20—Washington Mechanics' . 31—Firemen's Fire Insuranc 41—Real Estate Title Insuran 251—Lanston MonotyPe .... 1.103—Mergenthaler Linotype 273~—Security Storage Co. 461—Washington Market Trast. 50—American Com. 30—Banking Trust and Mortgage 3—Munsey Trust 250—Citizens’ Savings Ban| 1—Departmental Bank 46—District Title Insurance. 36—Washington Title Insurance. FLOUR IS UNCHANGED. MINNEAPOLIS, Minn, July 14— Flour unchanged. Shipments, 51,223 barrels. -Bran, 2,000. Wheat northern, 1.02%al.09%; July, September, 1.02%; December, Corn, No. 3 yellow, 793%a80. Oat: white, 36%a38%. Flax, No. 1, 21 DRY GOODS STEADIER. NEW YORK, July 14—Cotton goods were steadler but quiet throughout the day, news of widespread curtalil- ment among mills affecting buying. Yarns were quiet. Prices named on union suits were lower for next spring season. Raw silk was un- changed. Wool goods openings for spring will occur Monday, July £3. Burlaps were quiét. Hibbs Bullding. Open. High. 94 a4 87 9815 Close. Low. 9 94 87 973 a s, Bank.. . UNLISTED DEPARTMENT. and Savings Bank. 13 COTTON PRICES DROP. NEW YORK, July 14.—Yesterday’ sharp advances were followed by de- clines in the cotton market today owing to hope of a break in the southwestern drought. October con- tracts sold off to 24.16 making a net decline of 34 points, while January broke to 23.44, or 46 points net lower There was very little pressure against July, which held relatively steady during the entire day and closed at a net advance of $ points, while October and later dellveries were 33 to 49 points net lower, with the tone barely steady. In the Kongo the natives use ivory kitchen utensils and chopping blocks of ivory. The Thrill That Comes Once in a Lifetime-. —By WEBSTER. WHAT LuCK, KIT CARSON? Any “FRESW MEAT Fer CAMP 2 DIDTA SEE Ay ou PESKY REDSKINS A LURKIN 'RoUND R A 230 \ WE'LL HAVE FRESH MeAT To-0AY, DAN'L BOONE - 1| BRANG BACK A GRI22LY BAR-PLUGGED it BTWEEN TH oL EYES. | PLUGGED A COUPLA MOUNTING LIONS! AN’ A BUFPERLO Too. 1 BEEM ATRACKIN' A BIG BAND OF S10UX INTUNS FER A HUNDERD MILES BUT THEY, SMUCK BACK N TH OL™ HILLS . b annd PN\ AN S S e mm‘:’vj 76s V n R OUT M THE GREAT OPEN SPACE WHERE MEN ARE MEN = - STOCKS GO HIGHER i IN LIGHT TRADING Bears Bid Up Prices in Brief Saturday Session—Brisk Advance in Sterling. By the Associated Press. NEW YORK., July 14.—Today's stock market wag an unusually dull session with a continuation of yes- terday's upward movement. There was evidence of an Improvement ‘in speculative opinfon and bear traders who sought to cover were forced to bid up prices. Absence of many trad- ers for the week end contributed to the extremely small volume of the transactions. Prices opened somewhat higher and held up fairly well until near the close, when there was some reaction on profit-taking. Speculative indus- trials were the strongest, and some relatively inactive stocks enjoyed a moderate advance. No interest at| all was displayed in the rail group.| Demand sterling moved up briskly to 4.60%, a gain of 1 and 1-16 cents. French franes and German marks also improved moderately. The weekly clearing house state- ment showed decreases of $57,087,000 in loans, discounts and investments and an increase of $22,502,000 in the reserve of member banks in the fed- eral reserve bank. Net demand de- posits increased $9,506.000, but time deposits " declined $2,670,000. Aggre- gate reserve totaled = $530,765,000, leaving excess reserve of $26,792,480, an increase of $20,998,250. SUMMER DULLNESS INSTEEL MARKET Weekly Review of Metals Shows Lead of 85 Points Since First of Month. ssociated Press. W YORK. July 14.—The steel market is more or less unsettled ow- ing to the midsummer dullness and the fact that producers are catching up with their orders more rapldly than had been anticipated. Produc- tion has been reduced to some extent, however, by hot weather and a of labor, and prices are a very 'steady undertone, with but few concessions. Pig iron is quiet and values have experienced further losses as supplies appear to be somewhat in excess of the present demand. In copper there was an_improved demand both for export and domestic consumption and prices were gener- ally firmer. The export business in- cluded sales for Germany. Buyers for domestic consumptior *remained | conservative, however, and a further improvement in demand may be nec- essary to establish the market on a 15-cent basis. Tin rallied in response to a higher London market. Consuming demand remains light, but there is no eager- ness shown to press sales at current levels. Lead broke to 6.00, or a drop of points since July 1, without stim- ulating demand, as ‘trade require- ments are steadily lessening while | stocks on hand are liberal. Zinc was firm, with a fair demand for July shipment, and producers well sold up for the next three weeks. Demands for brass special has re- sulted in premiums for prompt deliv- ery Antimony was and firmer. PRODUCE MARKET. BALTIMORE, Md., July 14 (Special). —With the exception of peaches, can- teloupes, watermelons, native and nearby fruits and garden truck have entirely replaced southern varieties and generally speaking are in good demand, with prices holding firm on all of the better quality of stock. Early June apples are in fair de- mand at 1.00 to 3.00 a barrel, 25 to 1.00 a bushel and 15 to 35 a basket. Blackberries, huckleberries and rasp- berries are continuing in_good de- mand at 10 to 16 a quart, 15 to 20 a quart, and 8 to 10 a pint, respectively, with black raspberries 15 to 18 a quart. Cherries when large and of | good quality are bringing 10 to 18 a | pound and large plums 6 to 10 a quart. Maryland and Virginia aspara- gus are playing out, but the pick of the offerings are meeting with ready «ale at 3.50 to 4.00 a dozen and 1.50 to 2.00 for culls to 2s. Green and wax beans are more plentiful and selling 1.00 to 1.25 a bushel, while stringless are bringing a premium of in better demand COPPER PRICES STEADY. NEW. YORK, July 14.—There has been a steadler tone in the copper market during the past week on an improved demand both for domestic consumption and export. Buyers have seemed unwilling to follow advances above the 14%-cent level. although some of the producers are asking 15 cents for electrolytic delivered. Iron easy. NEW ORLEANS COTTON. NEW ORLEANS, July 14.—Spot' cot- ton quiet and unchanged. Sales on the &pot. 300 bales; to arrive none. Low middling, 26.63; middling, 27.63; good middling, 28.13. Receipts, 230 bales; stock, 68,398, COTTONSEED OIL HIGHER. NEW YORK, July 14.—Covering for over the week end, coupled with steadiness in lard and light pit offer- ings, effected a moderate upturn in 10% PREFERRED STOCK Of the Lenox Ruflding Owners. Inc.. op- ¢rating the T-story office bullding Known LENOX BUILDING. 1523 L Street Northwest $75.000 authorized. $80.000 sold n advance ofpublic offering. emainder for sale at par, $100. FEATURES. Cumulative; preferred dividends, 10% Tarticipates equally in Common Stock Dividends. Preferred as to assets after 1st frust only. etirable at $125 per share. OBJECT. The procceds of this sale are to be used solely for (a) the retirement of existing foans, exclusive of 1st trust, and (b) fo meet expenses of remodeling rest of bufld- ing. third to seventh foors” inclusive. for office purposes. EXPLANATION. The owners of this bullding prefer to pay large return to individual investors than stand the excessive cost of The under- ot ind in- c writing _comm| . curta terest charges under which second-trust and other loans can be obtained from the usual sources are unduly burdensome and considerably more costly than even this extremely attractive Preferred Stock issue A thorough examination of thix offer will reveal this is an absolutely sound invest- ment, without any element of inflation or speculation. Fiscal Agents Edm ., Inc. und J. Flynn‘ s‘::zox. Inc. A SEASONED INVESTMENT. Well secured, _returning 8 ~ pe: cent, is offered to careful i vestors.” I you are looking f safety of principle and a fair re- turn, with prospect of emhance. ment of principle, we will supply full information without obl - tion to you. Best of local bank- ing references. Address Box 322- Y. Star office. B - Home Furniture LOANS $50 to $300 on D. O. real estate, household gouds _or chattels. 7 per cent interest. No brokerage charged. Come in and let us expiain our method of making small losns. ration’ Commercial Loan & Finance Co Room 211, 921 15th 8t. N.W. gystem Copyrighted & Patent Pending. Our 79, First Mortgage Notes Are carefully selected and placed on an absolute margin of safety. The Service We Give Insures prompt collectivg and mitting of Interest. All details cau- tiously supersised, that the property is properly cared for, adequately in- sured, taxes puid. Certified insured titles furnished swithout cost. Out experience extends over a period of many years without the loss of a i peany in either prineipal or interest. Notes of $250 Up to $5,000 Now on Hand Chas. D. Sager 924 14th St. NW. Main 36—Loan Dept. I Will Sell 5 Units Nat. Mort, & Inv. at. § Units Intl. Finance at. 4 Units Genl. Fin. & Sec. 3 Departmental Bank at 500 Miller Train Control at...... 118 78 s0 B 125 25 cents a bushel. Lima beans are in good demand at 3.00 to 3.50 & bushel and native tomatoes are in limited supply, meeting with ready sale at 3.00 to 3.50 per 4-8 basket for ripe, and 1.25 for green. Other native and nearby vegetables continue active at the following quotations, with no surplus in the daily arrivals: Beets, 5.00 to 7.00 hundred; cabbage, | 6.00 to 12.00 hundred; carrots, 4.00 to | .00 hundred: corn. 20 to 30 dozen for | native and 10 to 20 for Virginia; cu- cumbers, 90 to 1.10 basket: lettuce, | 50 to 1.00 bushel: peas, 2.50 to 3.00 bushel; peppers, 1.76 to 2.00 basket and squash, 20 to 25 basket. Mary- land and Virginia onions _selling mostly 1.00 to 1.50 bushel. Demand for new native and nearby potatoes continues good at 5.00 to 6.50 a bar- rel and 2.00 to 3.00 for No. 2 stock. Basket stock selling 2.00 to 4.00 per 100 pounds and bushel stock, 1.00 to 2.25. The local egg-market continues firm under light receipts of natlve and | nearby freshly gathered stocks, and it it were not for the western eggs brought here in car lots. the supply of desirable stock would be Insuffi- clent to go around. buyers are critical as to quality, and to draw top quotations the offerings have to be strictly fresh. The mar- ket closed firm today at 25 cents a dozen, but held stock has to be sold at sharp discounts. The live poultry market continues steady to firm on most lines under fairly active demand for large prime stock, but averaging receipts are largely made up of smaller fowls, and such are slow sale at the lower values. Large fat spring chickens will_bring 40 to 45 a pound, and small to medium, 30 to 40; but Leg- horns are slow sale at 27 to 35. Old hens are lighter receipt and firm at; 24 to 27, and Leghorns, 22 and 23. Old roosters plentiful at 15 and 16. Demand for spring ducks of desirable size fairly good at 27 and 28 and 22 to 25, but old ducks are draggy at 17 to 20, while small and poor are neglected at 14 and 156. Pigeons con-, tinue easy at 25 and 30 a pair. { DR. C. A. BROWNE ACCEPTS New Chief of Chemistry Bureau to Begin Duties October 1. NEW YORK, July 14—Dr, Charles A. Browne, chairman of the New York Bection of the American Chemical So- More liberal and | prompt shipments are advisable, as | Thomas L. Hume, Broker 1412 G St. Main 1346, ALBER’ . LOUIS ECKLOFF. §: *0hizs" KooRE. - c%lRECTORS ARTHUR T. BRI WALTER BROWNLEY FREDERIOK De0. FAUST ST ciety, has accepted an appointment to become chief of the bureau of chemis- try, United States Department of Ag;leululn, it was announced ¢oday. . Browne will take up his new dutles October 1. His resignation the New York Trade boratory, which he will be officially announced B a4 cottonseed oll today. Closing prices were 3 to 8 points net higher. Sales, 6,900 barrels.. Prime crude and prime summer yeliow spot, botn nominal; July closed 10.00; September, 10.13; December, 8.60, all bid. i Money to Loan first deed ot trust on real estate. deslos Prevatling interest and co» Joseph 1. Weller 420 Wash. L. Dbldg. & The Restless Force Since the day. of its incption, it has constituted the driving power of countless thousands. From Nome to the Solomons—from Vladivostok to the Gold Coast —men have struggled, slaved, lusted and died—for its possession. In Fez, s dusky Nomad guards it greedily in the filthy cache at his breast. d tan tables of Turfan. In New York and London, generates the efforts of mighty interes ivers, grimed with the yellow dust of the Gobi, stake it on the fan. the mother dynamo which Slant-eyed Mongol camel Petrograd and Placerville—Mandalay and Medicine Hat—all pay homage. common shrine. We know it as— THE AMERICAN DOLLAR. Hoarded—it remaii a slothful, doubtful a menace. duces—creats—inspires. t. Finan, INVEST IN BONDS! Thus this organization plays its important part. Ranking safety as the paramount essen- tial—guarding the interests of the buyer— offering practical, intelligent counsel....a Squandered—it develops into an i Conserved wisely, harnessed and compelled to work—it pro- job worth while! Wm. L. Moore & Co. Investment Bankers 710 14th St. Main 6894 Buddhist, Mohammeden, Jew and Christian worship at e dormant— idious engineers—keen, conservative brains of the commercial world—submit the logical solution Main 4713 TO THOSE WHO INVEST THEIR MONEY Our Partial Payment Plan places our FIRST MORTGAGES within the reach of every in- You can make a first ver a Quarter of a Century Without a Loss vestor. B. F. SAUL CO. Main 2100 1412 Eye payment of $25 or more—then monthly payments of $25 until the $250 Mortgage is yours. You earn 6%4% as vou make these payments. St. N\W. ANNOUNCEMENT K. M. Grimm, formerly in charge of loan department of Wm. S. Phillips, is now asso- ciated in a like capacity with the real estate concern of Morris Cafritz Co., Inc., with offices at 913 15th Street N. W. National It’s the Gain You MaKe —in strength of mind and char- acter, as well as in actual dollars and cents that invests thrift with ‘such worthwhile advantages. Once you prove that you can build a bank balance, your mettle is tried and you feel confident of your ability to do greater things—and will do them. ] The oldest National Bank in the District of Columbia has helped hundreds attain success from small beginnings and invites you to make use of its facilities and protection. {PAY DAY’S at hand—begin now. Metro $1 or more will open an account. politan Bank Capital, Surplus and Undivided Profits, Over $1,700,000.00 15th St. Opposite U. S. Treasury—109 Years Old 3% PAID ON SAVINGS