Evening Star Newspaper, August 21, 1923, Page 23

FINANCIAL THE: EVENING STAR," "'WASHINGTON, D. C, TUESDAY, AUGUST 2I, 1923. FINANCIAL. m COMPETITION KEEN | e vork cure waRKeT | (SAYS WHEAT PRI |[eomeo s, | fequiTaBLE mR u S SH'PS wul RUlN FARMER ENTIRE COUNTRY | ||| Co-Operative_Building Association Western Interests Anxious to Wallace Predicts Agricultural Buy Two Fleets Now Disaster—Holds Econ- " on Pacific Coast. omy Necessary. Cagiul & Surglus, g.om,tmm NoMatter Where You Live, This Big Bank Can Serve You. The handiest mail box makes available the facilities, protection and service that have brought over 42000 patrons to this old institution. fWe furnish stationery, self-ad- dressed envelopes and duplicate deposit slips for patrons who find calling at the bank inconvenient. &% Deposits welcome in any amount—SAME RATE of interest paid on large and small accounts. National Savmgs & Trust Co. 56th Penn and International Petroleum were higher.. The Indlana stock was heavily dealt in around 63%. The ~strength of Pyerless Motor stimulated activity e advancing pricés into others of this group, notably Durant of Delaware and Reo. Buying of the better grade industrials was also more active. Included were Uni- versal Pipe preferred, up almost four points, American Gas and Electric New, up a point, and Electric Bond and Share preferred, up a half point or so. Reading Coal issues marked time. Glen Alden, however, gained another point. Fortuna und Ray Hercules fea- tured the mining sroup and were BY WILLIAM F. HEFFERNAN. NEW YOHK, August 21.—Trading lon the Curb Exchange today was ac- tive, most stocks reaching higher levels. Some oils sold off following Monday's reduction In quotations on ulf Coust and, Mexican Crude. The belief prevailed that simildr reduc tions in Crude quotations generally lmay bo expectea The movement of the Standard &roup was decidedly irregular. Prairie Gas, Vacuum, Standard of s and Tlinois Pipe Line were while Galena Signal, South ST. PAUL, August 21.—District rep- resentatives of the Standard Oil Com- pany and of independent refiners to- day predicted a continuation here of the present gasoline price of 16.9 cents a gallon. BAKERSFIELD, ( JAugust 21, —More than 700 oil wélls in th Kern county producing area now are shut in, awaiting the passing of the production peak by the southern Cal- ifornia wells, which are flooding the market. Most of the shut-in wells are owned by the larger companies. JOHNSTOWN, Pa., August 21.—The Johnstown Chamber of Commerce has asked Gov. Pinchot to investigate gasoline prices, and other organiza- tions in the state have made similar requests. 434 YEAR COMPLETED ....34,750,762 vee...81,207.281 Join the Equitable and Save Systemhcllly —You will find our systematic pian the most effective metiod of saving, Annets BY J. C. ROYL Special Dispatch to The Star. NEW YORK, August 21.—Keen com- petition has developed over the ac- quisition of two fleets of passenger and freight steamers owned by the government and being operated on the Pacific coast by managing agents. Robert Dollar, veteran shipping man and head of the Dollar steamship linex, and his son, Stanley Dollar, P Paackers Ss.. Dubilier ¢ & Radio, 1 Ol 6n president of the Admiral Oriental| 3 de 3 % 0 Durant Mot 4 - ec B prd ot Steamship Company, now are on the 1 Elec Bd & 8h pfd % n 134 Gillette S R way to Washington to confer with 4 ilen Alden Coal. .. i} By 2 Goodyear Tire Mpping Board officials. They are | 102% T Hudson Co pfd ected to submit final revised bids 2 Lehigh Power for several Shipping Board craft. N & Lib new Tt is understood on good authority that the Pacific Mail Steamship Com- pany and the Rolph-Flei terests, which bought o ships from the board about «go. will bid both against the D terests and the Seattle steam o - n. who also are represented " Hody shington. Los Angeles capitalists | eral Pe @lto are deeply interested in the dis- | X posal of the sot liners. With wheat selling at considerably less than the cost of production, thou- sands of American farmers will go bankrupt and “other thousands will be able to hold on only by the pra tice of the most grinding economy, Secretary Wallace declared in a state- ment yesterday upon the agricultural % + situation. “The ruinously low price of wheat is not a new agricultural disease,” said the Secretary in this statement. “It is just one more acute sympton of the general trouble from which agriculture is suffering. The disease | itself s the distorted relationship between prices of farm proucts and prices of other commodities. “The sooner the people engaged in commerce and industry frankly recog- nize the trouble. the better it will be for all of us. The farmer could get along fairly well with present prices of what he has to sell if prices of what he must buy were down accordingly. But prices of other things remain high. That is what Subscription for the 85th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. President FRANK P. REESIDE, Secy. 215 103y s 125 % NEW YORK. August 21.—Following is an official list of bonds and xtocks traded in ork Curb Mar- ket today: 1 Babeock & Wil i Borden & Co.. i Bridgeport Ma 4 Bkiyn City R Buddy Buds Chicago Nipple . 1 Chie Nipple BONDS, — High, low. 1:15. Vackers 6s .. 51 54 - pe 1 Cleveland Auto ... HOUSTON, August 21.—While a re- duction of 1 cent a gallon. to 18, has been made in the price of gasoline here, it still is higher than in other Texas citles, and the district attorne is preparing to investigate whether a combination among retailers exists here. The Gulf Pipe Line Company has reduced the price of grade A crude 25 cents a barrel to the present price of grade: NEW ORLEANS, August. 21 mills of the Southern Pine As: tion last week received orders for 64.878.331 feet, shipped 72,449,944 feet and produced 76,674.512 feet. Orders on hand Monday totaled 786 | feet. This compares with a. to orders on hand last year of feet. PORTLAND, Ore.. August 21.—Only same totally unexpected development will save the Columbia river salmon pack from being short of last year's | output. At present the outlook is for a decrease of 10 to 20 per cent. LYNN, 21.— The | Leonard Shoe Company of Ly ceased to manufacture this w The cause assigned is that exce: vage demands have made it Impos- sible to meet competition from other localities. ository in Washington Oldest Savings D New York Ave. Cor. 15th Citiex 8 < Deere & 3 Detrait Cits 1 Detroit Edison a 3 | y & ATTENTION INVESTORS —If you have money to invest, why not have it secured by first and second trust mort. gages on real estate in the National Capital, where values are constantly increasing. We are in position to handle amounts of $500 to $5,000,000 on improved real estate with guaranteed title. Interest at 6% to 7%. Francis A. Crawford, Inc. Real Estate Loans and Insurance 903-4 Continental Trust Bldg. MONEY TO LOAN ON DISTRICT OF COLUMBIA AND CHEVY CHASE, MD., RESIDENCES Sup Co of el % NY Tel Co pfd... Peerlews Motor... 22 tadlo” Corp” 200 1 Radio_Corp pfd.. S e 18 5 Reading i 21 1 Reading ¢ b1 2 Rowenb'm Grain Cp. i | hurts. 20 80 C & 1 new 18 “Wages in Industry and on the rail- 1% Stude WIF 50t | roads are almost twice as high as 11 Rwift 2 103 | before the war. Taxes are about ! 3% |twice as high. Freight rates are Loutsville G & B 312 | from 50.to 75 per cent higher. Metals, Morris & (o7 o s 51 | building materials of all kinds, are S Lt & Heat . 1% | from 50 to 100 per cent above pre- N Lt & Heat ptd 2 | war Mhices. All of these are items 1 Universal Pipe w i 1% | in the farmer's cost of production - ‘n.lrl.u"‘-_lflld wi UI Until a fair relationship is restored et RS 4 oy I between agriculture and industry and LR commerce, agriculture will be upset 10 Am Commander Min 03 |and will have reason to mmpxusn 180 Belcher Extens . 0z Rutte & Wextern 50 neinrie Min 1 i | FIXING PRICE OF WHEAT IS OPPOSED BY BARNES Cop Min tem cf ez Silver 3 Cresson old 3 Dolores Exper - o b s 5 Former Grain Corporation Head Says Precedent Would Hurt Farmers Later. Julius - H. Barnes. president of the Chamber of Commerce of the United States, and head of the United States| 110 Goldfield _Developm ldtield Deep Mine Grain corporation during the world war, | in an article in the Nation’s Business Rubber Canal Service I Factor. Interest in these activities has been intensified by the joining of the United American lines and the Houl- der, Weir & Boyd, Inc. interests in establishing a intercostal service from Baltimore and New York through the Panama canal, employing from twelve to fourteen ve: necott Cop Libby, MeN & L& X ®as . . .3 Mass., August 5%% Interest owned by Company. Another factor in the uation ‘I8’ seen in the recently corporated California Fruit Shin line, Wwhich proposes to vut five 11.000-ton refrigerator shins on the run between California and Atlantic ports With this trend toward the devel- opment of the intercoastal water- borne traffic plainly in view, rail carrlers handling ~_transcontinental waffic_have sought or are preparing to seek permission by the Interstate Commerce Commission to reduce rates to a point which will permit them to meet Panama. canal _competition. Among the roads expected to take such_action are the Southern, Union and Northern Pacific tems. the Weyerhacuser H. L. RUST COMPANY 912 15STH STREET N.W. MAIN 6888 LOAN CORRESPONDENT FOR THE PRUDENTIAL RANCE COMPANY OF AMERICA PITTSBURGH, August 21.—One de- partment store here which has adver tlsed @ man's suit and overcoat for $31 has done a big business BOSTON, August 21-—August fig- ures on the consumption of cotton in New England textile mills are ex- pected to show an extension of the downward movement, but prospects for fall are brighter dnl Osas vion Oil 6 R Union 01l 65 R ° Tnie Of Pre sum Ol FOREIG! Argenting s 5 King of Nether Mexican Govt fs - Rossian Gov @ Nwiss Govt 91 Swisk Gove 977 9 Zurich S ceees 3% ‘Money to Loan Secured by first deed of trust on real estate. r-om:mg fnterest and commisslon i 420 Wash. L. & Truat Home Furniture LOANS From $50 to $200 on household goods ttels. 7 per cent interest. Ko ge charged. Come in and let us explain our method of makin loans and_ce Commercial Loan Room_211. 821 System Copyrightsd & Patent Pending BONDS 100 101 S8, To1 Auxlo Am Ok Rorne Servmser. 100 Continent Ol new. 10 Enrvka Pipe Line.. Lead ailroads Vers Active. ‘The rail arriers are continuing | their programs of equipment better- Niz O . ments without interruption and a tre- imble 0 & T new mendous volume of business is count- me 5. «d on from the roads by equipment i10 Imp 0il of Can... manufacturers and steel mills| , 10 M4 P LoD e, Throughout the reminder of the vear | 2000 Il Pei/co it 1a for delivery in 1924 Equipment for{ . E s aa handling crops and general traffic this Pen Ol .. 12 fall throughout the west s > Indiana.. according to both railroad 40 Sonthern © L. ! #hippers. There are many )0 S O Kansas new. more cars in opers n a ago and repetition of the acute car shortage is declared highly improb- | § eble even when the fall movement Feaches its peak The prompt movement of the Cali- 1 Barrington Oi].. - fornia record-breakinz fruit and veg- b Syadicate.. :fi"" S etable crops is assured by the an- - - den G ¢ nouncement today by the Southern | v C scrip £ . b Tacific that it has 13,000 refrigerator P Ol X il 2 cars available, as compared with 3.800 Ghn hoe T 1 SR 11 cars at this time last vear More 3 Gulf 01l % 1 than 16.000 cars of California fruit Kevstone have already been shipped stward Kir Pet.. this summer. Refrigerator cars Marland being unloaded w.thout loss of time Qi»-w at eastern terminals and returned Hex o promptly to the west ON FIRST MORTGAGES HIIL Florence. 20 811 Queen Min Corp G0 il King Div Mines 100 Spearhead Gold - 20 Success Mines AT CURRENT RATES OF INTEREST ew # Teck Hughes .00 1 Tonopain Extenx..... 30 Tonopah Jim Butler 10 Tonopuh Midway.... 2 United Eastern..... United Imp Mines les in hundreds. INT 8 Ark Nat Gas... Randell T Hgner & G wrz €207 aam&ca/@laua ' - First Mortgage Securities d you can enjoy the privi- lege of heing included in our list of investors RATED 100% SAFE never having lost a single penny in either principal or in- terest. A wornderful rec pare these with thos the loss of millions ported Guaranteed titles, tax certificates, insurance policies. with all not $250 up to $5,000 Available Improvements to Cost $1,600,000. The Western Pacific once £1.000.000 in new fmprovements at Stc tion to the $1.300,001 bureed for similar distriet Packing of berries in barrels with one part of sugar to two parts of fruit has proved an unqualified suc- will spend at track and vard kton. in add already dis- purposes in that Save and Invest The purchasers of our First Trust Real Estate Notes lock them in a safe deposit vault and forget them. Nothing to watch; nothing to worry when you com that ere causing trust gold certificates at prices to frequently re- {vield from 5.25 to 540 per cent, ac- Zone 3ot NEW GOVERNMENT T Howe Sound 0 Lone Star declares that to fix the price of wheat a_price.” Mr. Barnes points out, “at September 15—Wall farm itself should be the last one to | retical commodity index. for that pre-| NEW YORK, August 21 — Yori distinct prejudice and loss.” care for certificates of indebtednecs prevailing across 3,000 miles of wheat | ihe form ot o 1ot explains that w. P at war stablization of wheat e to their own prejudice while this action | au\® PaX Consoliated Copper Com- . e e 1923 totaled 16.3: ARGENTINA sEEKs sacrifice. |pared with 14008441 pounds’in th ter was $496.508, which was increased 38 Murad_ o vz chi. ‘ublic offering was made today o HON Gy i Special Dispatch to The Star. e e mmadsbfodaytof 5 ] 1 P G Welborn of the sixth district Federal (fifteen vear 5 per cent equipment | Sapuina et 11 p Heavy Obligations Due | Reserve Bank and Robert F. Maddox : 2 cording to maturity. rman Ol campaign in the southeast to per- @0 Hurdshedl Min 10 Hill Top Nevada 2 Hecla® Mine 2 Homestake Ext ] 10 Independence D gt SOON | 1 Mason Val 90 National Tin by legislation would not be feasible. No human judgment could sugzest |Funds Needed to Meet Notes Due| which there would be anything like un!- versal acceptance by the farm; and the | establish the precedent of fixing farm | Street Briefs. products at any relation with @ theo- | I the Assoclated Press cedent established by the farm would b K 1, be used many times afterwards to their | DanKers an" Lo cemrl Snnoances ment of new government finar g to A further complication, Mr. Barnes s says, lies in the difference in rnndninnj:"";:ulr:nfi Sentemier 1b o son raising territory with yield ranging 1L 2 : from five to fifty bushels an acre. He bond issue, Miln.ur to that of ( when some $760.000.000 possible by enlisting the very pro- % & bonds” were sold cesses of business as a war effort and | "I FEICSO oL of the affected trades now could not 1 be sccured without the war motive Of |jaas Soreled 15.40r 6og ond auarter of 99 pounds, 4s com- {preceding quarter. Operating fncome $60 000 BANKERS OPEN CAMPAIGN | 7om.conber produseions for the quar New e 05 TO AID COTTON PLANTERS | from wold and siiver. 1 k 4 { .000 New York, Chicago and m Tewver Ol Funds Desired in U. S. to Meet| ATLANTA, August 21.—Gov. M. B |St. Leuis Ruiroad ¢ mpany, one to | 4 Seabourd 011 . u former president of the American ou States Oil in October. Bankers' Association, have launch “p\.“s:.:v.‘u‘m} : By the Assocjated Press. suade cotton planters to cess among the northwestern grow- ers. according to Dan G, Pettibone. express traffic manager of the North- ern Facific. After sealing the barrels are stored at once in 4 temperature ranging from 20 to 2§ degrees and may be shipped long distances in re- frigerator cars. ‘Watch Railroad Meeting. Rallroad officials are waiting anx- fously for the results of the delibera- tions of the 330 general chairmen of the local organizations of the Brotherhood of Locomotive Firemen and Enginemen. who will meet in Cleveland September 6. It is antiei- pated that this conference will ap- prove a demand for a general in- crease in wages. After the confer- ence has taken its stand the question will be submitted to a referendum Vote of the 118,000 members, who will decide whether officials may be em- powered to call a strike If the de- mands are not met COTTON WAREHOUSE FIRM GETS ANOTHER START Atlantic States Company Elects New Manager—Reorganization Under Act of Congress. By the Assoctated Press AUGUSTA. Ga.. August 21.—The At- lantic States Warehouse Company. declared to be one of the largeit warehouse systems in the country. was_reorganized a meeting of |\ stockholders here yesterday, and J. P. Woodall, manager of the local branch of Well Brothers, large cotton firm, s selected as president. Applica- 1ion was made for the warehouse to be reglstered under the warehouse act of Congress passed in 1918, mak- ing it _a government bonded ware- house for the storage of cotton. The Atlantic S rehouse Company was involved in the recent financial upset of. Barrett & Co., cot- ton factors. i LITTLE CHANCE SEEN NOW FOR LONG COAL STRIKE | {City ana Washington Stock E Potomac _Electric £1.000 at 97, Potomac Ei Wardman Park Hotel Capital Traction Co, at 101 Riges Xational Bank ris. thaler Linotype- Washington Gax & F1000 at 92 300 at el of Money—Call foans, 5 and 6 pe BONDS. American Tel Amerjean Tel Am. Tel. Am. Tel C. & P. Telephote b & Telga, 4! & Telga. 415, & el orl."tr. o8 & Tel. conv. B {00 & P Telephone of Va. Capital Traction R. R. 5s.... uburban 5 Netropolitan R Potomac Potomac Potomac Llec Pot, Llec. P Pot. Elec. Pow. £ m. & ref. Wash., Alex. & Mt, Ver. Bs.. caxh. Alex. & Mt. Ver. ctfs. . Ralt. & hington Gax Washington Gas Wash. Rwy Wash, Rwy RA. Sl MISCELLANE D. C. Paper Mfg. 0x. Riggs Realts fix. (long).. Riggs Realty 5s (short). See: Storage & Safe Dep. 6u.. Waush. Mkt. Cold Stor: Wardman Park Hotel 0x. STOCKS. PUBLIC UTILITY. American Tel. & Telg: Capital Traction Washington_Gas. Norfolk & W Steamboat. . Wash. Rwy c. com. Special Dispatch to The Star. PHILADELPHIA, August 21.—While | 2 suspension of work may occur auto- | matically in the anthracite flelds on | September 1, the attitude of President | Coolidge has encouraged busiress me: here in the belief that mining will not | be interrupted for any long period. The | miners, individually, are not anxious for | idleness at this season and merchants | in the anthracite fields are discouraging | & suspension. The attitude of President (‘oolidge respecting the rights of consumers to ! be supplied ‘with necessary commodity it is felt, will have great weight in effecting an agreement. DERY FIRM REORGANIZED. Amalgamated Silk Corporation tn} Be New Company's Name. | NEW YORK, August 21.—At a joint | meeting of the reorganization com- mittee and the board of directors of the D. G. Dery Corporation yesterday Percy E. Mann was clected president and the reorganization plan declared effective. A change of name to that | of the Amalgamated Silk Corporation was authorized, 98 per cent of the creditors in amount consenting. The principal, interest and security of the corporation’s bonds are unaffected, but the bondholders contribute to the extent that they consent to the post- ponement of the sinking fund pay- ments for a period of five years. BUTTER LOWER TODAY. CHICAGO. August 21.—Butter low- er; creamery extras. standards, “3; extra fi firsts, 39'll 4014 ; seconds. 3. “Eggs, unchang- ed; receipts; 13,911 cases. E Wash, Rwy. & Elec. pfd. Terminal Taxi Co Capital . Columbia Commercial | District Federal: Liberts Lincoly Riggs Nat. ! Kecond National Hank of Washington 921, xchange. -$1.000 at 97, ~£1.000 at 101%5. 1,000 at $100. . $1,000 at Va5 £ton Gas fs of 1933—$100 at 1001; r cent Bid and Asked Prices. PUBLIC UTILITY. NATIONAL BANK. i4a’ 180 TRUST COMPANY. American Security and Trust.. | Continental Trust... 1 Merchants Bank. ations] Navings and Trus Union Trust..... Washington Loan and Trust. SAVINGS BAN Commerce and Sav zast Wdshington Savin Security d Com. Bank Seventh Street.... United States ... Washington Mechanics’ FIRE American . Corcoran Firemen's National U Columbia _Titl Real Estate Title.. MIS Columbia Graphophone com i 'llld l\u'('h Market p{n on Monotype.... urity Storage Washington Market. Yellow Cab. *Lx-dividend. Tan CLLANEOUS, BUENOS AIRES, August 21.—It is understood that negotiations have been practically concluded between the Argentine government and Blair & Co. of New York for placing a $60,- 900,000 6 per cent loan on the New York market maturing in six months and offered at 981%. The loan will be used to pay off Argentina’s $50,000,000 obligation which falls due on Octo- ber 1. The Argentina government, it is said, is awaiting a more favorable market before contracting for the 150,000,000 kold peso issue, authority for which has been granted by Con- gress. BALTIMORE FIRM GETS PART OF BIG CONTRACT WILMINGTON, Del, August 21— The Arundel Corporation of Baltimore and the Atlantic Gulf and Pacific Com- pany of New York city have been awarded the contract for completing the dredging and widening of the Chesapeake and Delaware canal, cut- ting a new entrance at Delaware City ang improving the entrance at Chesa- peake City. Approximately the work will cost $1.200,000. Six million cublc vards of earth were to be removed. making a total of 14,000,000 which will be taken out along the waterway when the job is completed. POTATO CROP LIGHT. CAPE CHARLES, Va., August 21.— The movement of sweet potatoes from Northampton and Accomac counties thus far this season, which started the first week .in August, has been slow with from between twenty-five and fifty cars moving out daily the past week. The vield is not showing up anywhere near normal so far: however, it is early to estimate the season’s crop yleld as the tubers will make considerable growth before September, which is the peak month | of sweet potato digging and it Is hoped that both the stock and yield will show up about normal. BUILDING PERMITS GAIN. BALTIMORE, August 21.—More than $2,000,000 gain over June was shown in the building permit reports for last month in this city, according to records prepared by S. W. Straus & Co. The permits in'July reached $4,796,609, which was a gain of $570,- 1000 over July of last year. . e FOREIGN EXCHANGE. Aususe 21, 1033, (Quotations furnished by W. B. Hibbs & Co.) Nomhll B!lllnl(’hel‘il London. pound... Montreal, dollar.. Paris, frane.... Brussels, frauc. Rerlin, mark..... Rome, lira Zurich, fran Athers, - drachma. Madrid, peseta. Vienna. crow: Budupest, crown..... Copenhagen, crown. Christiania,’ crown. Stockholm,” crown. ... By tho Assoclated Press. NEW YORK, August "1.-Forelgn exchanges steady. Quotations (in United States dollars): Great Britain, demand, 4.54%; cables, 4.55; sixty-day bills‘on banks, 4.52. France, demand, .05631,; cables, .0564. Italy, demand, .0431; cables, .0831%. Belgium, de- mand, .0448%" cables, .0449. Germany, demand, .00000017; cables, .00000019. Holland, demand, ".3932; cablies, .3935. Norway, demand, .1636. Sweden, de- mand, .2655. Denmark, demand, |1867. Switzerland, demand, .1807. Spain, de- mand. .1331. Greece, demand, .0176%%. Poland, demand, *.000004%. Czecho- slovakia, demand, .0293. Austria, de- mand, .000014%. "Rumania, demand, 0047%. Argentina, demand, .3237. lezn demand, .1012. Montreal, .97%. Jugoslavia,’ demand; .000105. only_those warehouses licensed under bonded by the Department of Agri- culture. This movement is being stressed because of recent failures throughout this territory. The Dodge Statistical today estimated that the actual building work completed in_ Atlanta in 1923 would involve expenditure of $40.000.000 or nearly twice the amount involved in 1922, LACKAWANNA R. R. MAKES REMARKABLE RECORD NEW YORK, August 21.—If all the railroads of the country could accom- Corporation plish what the Delaware, Lackawanna | and Western has done, the transpor- | tation situation would be a pleasant dream instead of the nightmare of the last couple of years. Official fig- ures show that on July 31 Lacka- wanna's bad order freight cars were only 4.07 per cent, and bad order loco- motives 18.10 per cent of the tota] on its lines. These figures are substan- tially below the points which railroad men’ generally consider very satisfac- tory. In addition, the Lackawanna management has established an aver- age daily movement of thirty-two miles per freight car, which is two miles higher than the goal the Asso- clation of Rallway Executives i striving for. PEERLESS SALES GAIN. July Passes June, Which Was Also f Record Month. Special Dispatch to The Star. NEW YORK, August 21.—The fea- ture’ of the early dealings on the curb market today was the overnight advance of 2 points in Peerless Truck and Motor. This was in response to the publication of -July sales figures, which ‘surpassed any previous month's total .in the history of the company.} Total sales for the month by the eight Peerless branches aggregated close to., $2,000,000. According to the vice president of the company this s especially significant coming as it does right after June, which was also a record month. SINCLAIR HEAD RESIGNS. Mefllhon to Be Succeeded by Vice President Griffith. NEW YQRIK, August 21.—John D. Mc- Mahon today resigned as president of the . Sinclair” Oil and Gas Company to devote his time to personal affairs. -He will be !ufceeded September. 1 by R. A. Griffith, vice pre!ld&n! of'the company. HUDSON’$ “NEW MOVE. NEW YORK,:August 21.—One more indication of the feeling of permanence of. the' motor car Industry’s present prosperity was found yesterday when the Hudson Motor Car Company's di- rectors put the capital stock on a reg- ular $3 annual basis by deelaring a quarterly dividend of 75 cents, payable October 1 to stock of record September 20." True, the return to stockholders is no greater than in past quarters, when a regular dividend of 50 cents was paid, together with an extra 25 cents. Nev- ertheless, there is a more satisfled feel- ing when the word “regular” is used in connection with the entire disburse- ment. OIL FIRM SEEKS LOAN. NEW YORK, August 21.—The As- sociated Oll Company is reported to be negotiating with bankers for a new loan of -between $15,000,000 and $20.000.000. This is the only big Pa- cific coast company which has not done any additional financing since the flush of oil production. It is sald that ‘the .company s contemplating a new issue of bonds or note: The Assoclated Oil Company is controlled by the Southern Pacific by stock own- ership, paronize | NEDARTMENT STORE the United States warchouse act and | SALES UP 19 PER CENT‘ Spectal Dispatch to The Star. ST. LOUIS, August 21.—Depart store xales in this federal reserve district for last month were 18 per cent greater than in the correspond- | ing period last year, according tol laccurate figures made public today. {The garment trads here has expressed frself well satisfied with the re-| !(uhq thrwln in the first three weeks, {of thiz month, and makers expect a| big fall l‘vlslhcm Prices for dry goods are on a stahle basis here, and merchants in- this district are buying about 60 to 70 per icent of their fall needs, expecting o fill in the remainder latér in the ye Employment here has shown no si of abatement NEW APPLES IN MARKET. Western New York Crop Now Ready—Quinces Arrive. Special Dispatch to The Star. YORK. August 21.—W. Yew York apples made their i pearance on the New York ci kets tod, The offerings cons lof a carload of barreled stock from Wayne county and sales ranged follows: “A" grade. 21:-inch, per ba rel, duehess, 3.50a5.00; vellow tran parent, 5.0026.00; wealthy, 4.00a5 Several carloads of Michigan duche apples, in bushel baskets. brouzht from 1.00 to 1.25 for “A" grade, 21§ to 213 inch fruit, while transparents sold mostly at 1.2 i The season's first shipment of quinces from California was received | this morning and 1d from 2.25 tol 3.05 per box. containing about forty pounds. JULY RAIL EARNINGS WAY UP NEW YORK, August 21.—There is a”singular unanimity of opinion as to the large revenues the railroads of the country recelved in July. And} there is no reason to anticipate that the actual figures, due for publica- tion very soon, will belie that opinion. especially in comparison with July of last vear. The coal roads felt the full effects of the strike at this time last. year. Moreover, all roads then were combating the first full month of the shop strike DIVIDENDS. Tas- able. { | | i ent ok of Company. Record. Bur & S R Gept. 28 Sept. 15 Du Pont de Nem. 15% Sept. 15 Sept. o Do P de X den. 4 d oct 10 Du I de N Tow. . Nov. [T Qe 2 Du P de N P pf. 1 Oct. Hudson Motor Car Sad K.C.L.&P. 1 pr. A Oct. 1 Laciede Gas Light Sept. 13 Mon Pr Ry 07 Pf. oct. 1 EX- DIVIDEND TABLE. Brill, e P Continental O1l, a. Federal Mining' & Smeiing pf.. General Clg Lancaster Mahoning 1 noning Tnvest., atlonal Cloak & Suit pf., . ational Lead pf., a . Tegas & Mexico: e il e Ohb."a Standard Ol of N. J., q Standard Oil of N. J pf. August 27- Reading Co; 15t pf.. a Detasare Galveston i Capital One Million Dollars LT LD CHAS. D. SAGER 924 14th Dept. Money to loan on D. C. real estate. 1st and 2d trust loans made promptly. Usual broker- age commission. See Mr. Robertson 9 to 10 A.M., 4to6 P.M. Francis A. Crawford, Inc. 903-4 Continental Trust Bldg. Money to Loan ANY AMOUNT Reasonable Charges on Trade Acceptances, Warechouse Receipts, Manufacturers' Lccounts, Short-Term First and Second ey ey American Finance Corporation Commercial National Bank Bldg. Genuine Service renting thicas To owners in and managing properties. ENTS That’s Our Business B.F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 Standard QOil (CALIFORNIA) Serial 515 Gold Notes 1926 to 1932 Maturities Prices to yield about 5.55% to 5.40% (according to maturity) Complete details of this attractive issue sent upon request. The National City Company Washington—741 15th St. N.W. Telephone—Main 3176 | 14th & H Streets ElllIIIIllluI|llIIIIIIIllIlllIllllllIllIIl nu BT about; no fluctuation of value. SAFE INVESTMENTS WITH 4 WIDE MARGIN OF SECURITY Paying 6 and 612 % (PAYABLE SEMI-ANNUALLY) Shannon & Luchs First Trust Notes Built on a Straight Line of Return Not a Fluctuating Value Sold in Denominations of $100, $500, $1,000 FULL INFORMATION SHANNON - & Since 1906 LUCHS MORTGAGE DEPARTMENT 713 14th Street N.W. GEORGE A. FULLER Co. Building Construction \ We offer to clients the assistance of an experi- enced corps of experts and advisers in sll fields of building construction. We are also prepared to assist in financing sound building propositions. BALANCE SHEET, As AT April; 30, 1923 Assets Current and Working Assets: Cash on Hand and in Banks. . . .. Bills Receivable . .. Accounts Receivable (Sllhje(l to Reserves). Interest Accrued . i Piant, Material, =te. 3 D:Fervzd Chu‘u, Prepaid [nnnfl(z. etc. “Total Current and Werl Securities of Realty Companies . . Stocks and Bonds of Other Companies . . . Liberty Bonds and New York City Bonds . Loans on Mortgages. . Tnvestments in and Advances to Aff. Cos. Real Estate, Storage Yards. Liabilities Current Liabi Accounts Payable.. ............. Reserve for Federal Income Tax, 1923 Deferred Credits. . . . ... U. S. Realty & Improvement Company . Total Current Lisbilities Liberty Bonds Borrowed . 2 swst Reserve for Contingencies. Capital Stock; Preferred. ... .. $1,000,000.60 3,000,000.09. . Common . . Surplont Jea.toesones OFFICES .. 81,531,979.41 581,406.09 3,579,343.73 31,386.63 286,376.13 1,546.38 voo $1958,437.25 ve §35,000.00 787,8 1,051,187.40 139,000.00 397,108.61 -8 455,497.64 14,348.34 S9°'517 ;7 7rrlga3.85 395,000.00 1,105,071.96 . 1,000,000, L 1,81,179.63 $7039475.3¢ New York, George A. Fuller Bldg. Washington, MuaseyBuilding Chicego, Marquette Building Boston, Lawyers Building Philadelpbie, Morris Building Montresl,New Birks Building