Evening Star Newspaper, September 1, 1923, Page 19

FINANCIAL., SUGHT ADVANGES IN WENS ATTIR Fall Clothing to Be Pushed:in Earnest Next Week—Styles Conservative. BY J. C. ROYL! Special Dispatch to The Star. W YORK, September 1.—About t Tuesday American mén, young znd old, will, commence to take thought over “the new fall scenery. The purchases of fall suits and over- coaty will begin about that time, and rotailers and wholesalers are fully prepared for the flow of trade. Ship- ment of clothing from the manufac- turing centers is in full swing today, and many retailers will employ the Labor day respite to arrange attrac- tive displays. Practically all the larger clothing aufadturers throughout the coun- v declare that the volume of busi- 5 s0 far has not been largely In of 1922 But the labor situa- been quiet throughout the summer, and, as adequate materials were at hand or readily available, no disturbing element has entered into the preparation of fall garments. As + result practically 60 per cent of all orders were already made up when time for the start of deliveries arrived. 3 Slightly Higher Prices. Rochester manufacturers indicated today prices of suits and overcoats thould show only moderate increases this tall, such advances as are made being 1o absorb increased prices of woplens and other materials. They indicated, however, that th:y expected the most popular ‘price range to be between $45 and $50.° This level, they said, is due to tne increased discrimination shown by American men. No strange innovations Kive evidence of attaining popularity this y Clothing designers are turn- ing from narrow waists, pleats, darts, notches, curves and other eccen- tricities, and turning toward the more conservative pre-war patterns. This does mot mean, the designers said, that either voung or old men are not to follow fashion dictates. On the contrary, the desire to be well dressed 15 more widespread than ever, but it €oes indicate a2 more discriminating taste. Demand for Eveuning Clothes. This yrend is clearly evident in the increased demand for evening clothes and dinner coats emphasized by the orders booked this summer by manu- facturers who specialize in those gar- ments. Heretofore, they say, in lo- calities outside the large cities, even- ing dress was considered necessary only for extraordinary occasions. however, “the soup and fish” is ining wide popuiarity even in rural communities. Motion pictures are credited in some quarters with this spread of popularity. One’ remarkable factor in the cloth- fng situation is the unusual and early demand for overcoats. Credit for this is placed in some quarters on the tre- mendous increase in automoblle sales in the last year. Drivers, it is con- tended, have found it necessary to have light and heavy weight coats at a time of year when the need was not felt before they owned cars. Another factor in the overcoat de- mand has been the popularity of soft- finished goods, which from their con- structlon show wear more easily than the hard-finished materials. Friction . from auto wheels and from hands in pockets make it difficult for wearers to make these garments last as long a8 those of less popular materials. Hat Dealers Pusaled. Hat dealers do not quite know whether to be pleased or not at the success which has attended late sales of straw headpleces at reduced prices. Stocks, It is_true, have been cleared out quickly in many cases, but deai- ers have found that customers are walking away with two or three hats, with the evident intention of putting one or more away for the summer of 1924, The average prices being paid for these purchases for future needs range around §1 per hat. What the reaction will be next spring when window offerings name prices 200 and 300 per cent above this figure re- mains to be seen. Manufacturers, however, seem to feel that designs next year will have much to do with the result. —_—— MORE LABOR BANKING. Locomotive Engineers’ Union Seeks Charter in Boston. BOSTON, September 1.—An option has been obtained on the banking quarters formerly occupied by the closed Cosmopolitan Trust Company of this city by members of the Brotherhood of Locomotive Engi- jieers, who are planning to extend the brotherhood’'s banking activities to_Boston. Formal application for a charter for the proposed trust company has not yet been made, but about $600,000 capital has been subscribed and $2,100.000 _initial deposits pledged. The list of prospective depositors in- cludes business men as well as mem- bers of the brotherhood. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ATLANTA, September 1.—E. P. But- ler of Milwaukee, president of the National Association for Tile and Mantel Dealers, said here today that the past twelve months had been the best ever known. Unless all indica- tions failed, he added, the coming year would eclipse the 1923 record. He predicted building construction and allled industries would continue at the present pace. SPOKANE, Wash., September 1.— Opening prices to growers for the winter bananas: and +delicious varle- tles of commercial winter-keeping apples range from $2.25 to $32.50 a box, -at_which prices contracts mow are being made by large eastern buyers. ' LYNN, Mass., : September, To=More than half the production of the shoe factories here now is devoted to fancy colored shoes for women. More than 2,000,000 pairs of women's shoes & month are being turned out. PITTSBURGH, September 1.—Big canners have been delayed by the cold weather. Less than a third of the tomatoes expected have been re- ceived. Canners and preservers be- ileve, however, the cold weather merely has involved delay and not a damaged crop, but the holding of forces of workers is proving ' ex- pensive. T CHICAGO, September 1.—A survey of the building supply dealers’ in- dicates that construction will continue at its present rate for at least a month. Material vards, brick plants, gravel pits and quarries in this sec- tion will be working at nearly full capacity after Labor day. PHILADELPHIA, September 1.— This city has become the center of manufacture for ice cream consumed at Jersey coast resorts and a large sur- rounding territory and it is estimated today that nine plants here costing $18,000,000 will turn out 63,000,000 quarts of cream this year. AMARILLO, Tex., September 1.— Hundreds of cars of cattle are being shipped from the Pan Handle and West Texas. Most of the cattle are cows and veal calves. "Cows and lves are selling on the range for 530 to $40 a head, which is.said to be the lowest price in years. | BY WILLIAM F. HEFFERNAN. NEW YORK, September 1.—Trad- Ing on the curb market in today’s brief two-hour session was at a mini- mum due to the small percentage of the trading element which came down to business. Although the | general body of stocks moved over la comparatively narrow range, it | could not be said that the market was without feature. Announcement made before the be- ginning of business that Berne & Serym. ser had declared an extra dividend of $3 in additon to the regular semi- {annual disbursement of 34 caused an jadvance of 5 points at the outset and was followed by a further rise of 7 points in the stock. Southwest Penn Pipe Line was also conspicuous, getting up 6 points to $6. Only fractional changes took place in other of the ofls. Reduction of from 20 to 30 cents a barrel in midcontinent crude ofl announced to- day by the Magnolia Pété Company passed unnoticed so far as its effect on the oil shares was concerned. Standard of Indiana at 52%, where it _ NEW YORK, September 1.—Follow- |ing is an official list of bonds_ and stocks traded in on the New York Curb Market today: Sules In BONDS, thousands. 2 Anaconda s . Beth Steel Ts Cuban Tel Tis Detroit_Edison 6. . Fisher Body 6s Gen Asphalt 8s..... Hood Rubber 7x Libby, MeN o o 13 e 83 % ‘31 L Y 81 SO0N Swift & Co 3s. United Ol Py Un Rwy of Hi D2 cmmomamse 5 U S of Mexico 4 ales STANDARD OIL ISSUES. iv unity. 300_Atlantic - Labos 75 Borne Scrymser 20 Buckeve P. L. 100 Vacuum Oil new Sales in hundreds. 10 INDEPENDENT 0 1Cit Service< .. Service pfd. fex Serv ptd. B, SBY ofs 4 Kirby Pet 27 Marland 21 Mex Ol . S Mex Panuco Eae 7 Mutual 0il Vot cfs 1 Omar 01l & Gas. 1 Penn Beaver Oil FINANCIERS CALM OVER FOREIGN NEWS Bankers Also See Chance for Strike Agreement During Week End. P Special Dispatch to The Star. NEW YORK, September 1.—Only a negative judgment was passed upon the important developments at home and abroad by today’s financial mar- kets. The news which might have been expected to affect prices was, of course, the hostile action taken by Italy against Greece, and the falilure, tempgrarily at least, of the negotia- tions to halt the anthracite coal strike. . One reason for the indecision of the markets was obviously their pre- holiday character. Another was the general opinion that in both of these of a complete reversal of status over the week end. As far as forelgn af- fairs were concerned interest center- ed on the exchanges. be taken as a guide lKuropean bank- ers are not deeply. disturbed. Ster- fractionally higher, and there was very little change in the quotations for lire. The Greek drachma was some 10 points down, which- is not a large loss considering the character of the dispatches. | i If these ma)‘]E|Rher. at 44%: New York, THE EVENING STAR, WASHINGTON, D. C. NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office was only a sold most of the time, quarter under the closing quotation of Friday. Prairie Oil and Gas, one of the largest purchasing companies in the midcontinent field, was neg: lected. Declaration by Standard of Kentucky of the regular quarterly dividend of $1 a share was about what was expected, and the stock was only slightly changed. Mexican oils, which had been ac- tive on the side of advancing prices in past sessions of the week, came off from the top as the result of realiz- ing sales. The market for coal stocks showed little concern over the rejection by both sides in the controversy over the terms outlined by Gov. Pinchot. Glen Alden fluctuated over its usual range of about a point, and Reading rights were down fractionally, while coal bonds were practically unchanged. Durant Motors changed hands at a fractional recession, while others of tHis group continued neglected. Ef- fective September 1, Peerless Motor Company announced slight reduction in the price of its cars. Just before the close it was re- ported that Standard of Kentucky had reduced tank wagon and service sta- tion prices of gasoline 1 cent a gallon throughout its territory. 1 Pennock Oil ....... 1y 3 Canad 6'& R 44 X 1 H INDUSTRIALS. 1 Borden & Co...... 118 1 Brit Intern Corp B 143 1 Centeit Tron Pige.. 178 1 Chicago Nipple ... 3 { Nipple B trust D% lorado Pow & Lt 20° 20 ° 20 3 Dubjlier C & Radio 1 Durant Mot ... 4 Du Pout Motors 1 Ednund & Jones 1 Gillette § 1t & Glen Alden Coal. D W 5 P -l - Au%‘;:,;;..;‘ggms McCrory Mesabi Iron Midvale Co . ... Munsing Tnc'w i t Sup Co of Dei Radio Corp ... Radio Corp pfd. Read Coal rts w | So0.C & I mew. Stude Wf Rub. Tobacco Prod Ex.. Unit Pft Sharnew. Tni Retail Cands.. AUNING. # - #F, emeaBa Con Cop M temp cf 17 Cortez Silver . 5 Delores Esper 180 Emma_Silver 10 Hardshell Min 10 Independence 10 Lone Star 9 Dominion Cop 30 Nevada Ophir ..... . 1 Premier Gold Min 13 Ray Hercules, Iuc 30 Red Hill Florence 50 San Toy 20 Silver Mi 110 Silver Kg Div Mine . ADVANCE CONTINUES IN BUTTER MARKET Week's Imports Have Little In- fluence on Prices Here—Larger Output Seen. By the Associated Press CHICAGO, September 1.—Although the tone of the butter market during the week ending September 1 was irregular and uncertain, prices in all markets continued their advance. Dealers found top and bottom scores easiest to move and some accumula- tion of the medium scores took place. A heavier fall make of butter than last year's production is being antici- pated, cooler weather, plenty of rain and better pasturage conditions pre- vailing. The import situation exerted little influence on the markets during the week. Arrivals at New York included 057 casks Danish, 200 boxes of Irish matters the possibilities were strong ! and 200 casks Holland. Range in wholesale prices, 92 score butter, in the four markets during the week follows: Chicago, 1 cent % cent ighes at 45 at 45; Boston, 13 cent higher, Philadelphia, % cent higher, at ling and francs were unchanged to|46. SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) —Close— Bid. . Ofter. There was great disappointment | Aluminum Co. of Amer. 7s 1925. 1021, ' 103 over the hard coal dnmL-um?s? Hoe;'a‘e Aliminum Co. of Amer 73 105, 10010 100 was not abandoned, however, of an | Amerlean Cotton Oil Gs 1024.... 03~ 06 eventual agreement between the | Amcrican Tel. & Tel. 6 10240 100% 100 miners and operators resulting in the | American Tel. & Tel. 6s 1925.. 1161 118 suspension of work being shortlived. | Anaconda Coppes Tt o Anglo-American Oil 75 1925.. 102 1024 Canadian Northern 5%s 1024.... 100 100 PRINT CLOTHS H Gent. Argentine Rwy: 6s 1 07y 98 IGHER. i Upward - . 107 10814 P Trend Maintained in Mar. Peadral sugae Ret. i i g?é i 3 Corp. > 5 ket Again Today. Fisher - {3?.’ (. Special Dispatch to The Star. e 10 loa NEW YORK, September 1.—Approach | Hocking Valley 6s 1924 1001, Jootg of the week end, coupled with the|Humble Oil 5%s 1052 96 06 Labor day holiday, slowed up. the cot- | Kansas City Term, Go 10 S ton goods markets perceptibly today. | Kenpecott Copper Te 1050, oot 08 1he upward. swing in prices of print | 3 uf*h SR TN O M as 100" loom cloths ‘was maintained, however, as the | Morris & Co. 73%s 1930, 5 981 64 by 60 were quoted at 9%, and the | Penns. K. . 7s 1030. 108% 68 by 72 at 11%.. 5 8t. Paul Union Depot 100, Prices of August 31 in the oriental | Sears, Roebuck & Co. 78 1923... 100% ~ 100% raw silk market continued effective to. | BWift & Co. 5s 1932. 90! o1 day. owing to the close of practically | Tidemater O 842 153 b all'offices for the week end holidays. | goion Tank Car, T8 1330 J008 T SR ‘Western Union 6%s 1936; 100% 110 LIVERPOOL COTTON. Westinghouse E. & M. 75 1031. 1065 107 LIVERPOOL, September 1.—Cott. Spot, quiet: prices firm. —Geod| TREASURY CERTIFICATES. middling, 16.1 ully middling, 15.73;| (Quotations furnished by Redmond middling; 15.18; low middling, 14.88: C good “ordinary, '14.38; ordinary, 14.08. Sales, 4,000 " bales, including 2,000 | 4!s September American. ~Recelpts, 2,000 bales, in- | 3%s September 1. cluding _ 200 American. Futures;$s Ueeember 13, closed firm. September, 14.74; Oc- A4S March 15 102 tober, 14.32; December, 14.04; Janu- i3 S¥mber 15, 1934 ary, 13.94; March, 13.81; May, 13.67; | a8 Narcn 30, 1925 July, 13.4 fht Rttt {8 eeh 1S, i, arch 15, % THREE EXCHANGES OLOSE. | if: eiseuy i s : reh 15, 1627. NEW ORLEANS, September 1.— | {iss December. 15, 1 Cotton, tice” and sugar exchanges closed today an londay, or day, holidays. ... DIVIDENDS, SR = BOSTON 'STOCK MARKET: Company. riod. Rate. BOSTON, September 1—Following |4R2 yooen-..-- @ 1%% 15 a Iist of today’'s highest, lowest and | Auso & & Fles pt & 876 closing prices for the most active|Case Thresb M.pf g .75 stocks dealt in here: Col” Power. 9 A% High. Low. Close. | {01 Fower - Am Tel & Tel 124% 248 120y | 1t But ) Mchs - e 3% & Alba: L o Rasion Elevated LEE Q-1 o e | Reace But I Mch Q 3% Sondor, 3T Iteee Fold Mch.. Q 1% e South Col Pr7spi Q 1%% Fastern § 5 14 | Sou C Pr 5w 2d pf @ Hardy ' Coal 2 | Walworth Mfg. Q Taland Creek Walworth Mfg pt Q Masaschnectts Yogston Sh & T. Q $1.25 Mohawk 43 | Yngstu S & T pf Q 1%% New Corns " NY NH&H. 3 North Butee TODAY’S DAIRY PRICES. Pacific Mils NEW 'YORK, September 1.—Butter-- Shoe Mach 3814 | Steadler; receipts,” 8,585 tubs. . Cream Switt S lo - 02% | ery, extras (92 score), 44%ads. Egg:— U 8 Smelt Firm; receipts, 12,858 crates; Paciti 8 sl pos 41% | coast’ whites, extras, 47a49. Cheese- Walworth ... Irregular; gecelpts, 96,414 pounds. . SATURDAY, August Lives Up to Tradition As Month of Rising Prices September Has Often Seen Decline After First Week-—Much Lost Ground Has Been Made Up~The Outlook. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, September 1.—His- tory has. 1epeated itselt in Wall street and August has lived up to its tradition as a month of rising prices. In the old times prior to the estab- lishment of the féderal reserve sys- tem upward movements carried through the summer were ant to make hay while the sun shone—that is, before the maney market shut down upon speoulative borrowing to devote its whole resources to the €rop movement. It was aqaite the usual thing for money rates to go up before September was far along, for the banks to begin pulling in their stock exchange loans and for the bromising “bull market” of the pre- vious month to abruptly collapse. 3 September Poor Month. Nowadays the harvest demand havey lost thelr terror. Under th, Smooth workings of the federal re ferve, whereby credit s nooled for the benefit of th c v e © sections where the formerly was a severe strain. = Yot even in the decade since the estab lishment of the regional banking system the sequence of Wall street ovemts has been pretty much same. There have been one or twe exceptions, but it has still been trie that where the stock market hag gome uUp to any extent in August September. after the first week or so. has been a month of receding prices. e TECh Loxt Ground Gained. e reason for this lies i elsé than the Taw of action ooy S action. and it may be said thut. the vatiis year having ‘been al rebos excesuive decline, *there |3 wotCmell speculative situation to he corrected as there has been in other yeare SUIL the fact has to be we| p the upward' Tarn ‘last “manty o rapid and extensive. Outside of ew 8roups like the oils and coppers, Tepresenting industries. whoes Mmedlate position was unsatisfactory, stocks at their high of last . x}erl(;‘h;lck over half to lhr!e-qua;::rlx(i ofT),{‘._:ruund lost since the middle e decline in its early stages— that is. during the six weeks from April 1 on—was the ordinary re- aotion after the ill-judged specula- tion of the winter. fon of Wall street With the discovery to be a runaway It was the revis- values in keeping that there was not trade boom or in- flationary era such- as enthusiasts were picturing. But the decline thereafter got bevond the bounds of a normal reaction and became reckless selling movement. Only Normal Trade in Sight. In getting back, as it did the last week, the greater part of the losses of this later period. the rfarket re- turned to a basis where prices cor- responded once more with a reason- able ‘view of the business outloo Having accomplished this and thus justified the attitude of those who opposed the pessimistic propaganda of the spring and summer, it became a question whether the time being done expected to do. it had not for about all it was The surroundings AMAZING SUPPLY OF COAL IN 1. § World Output Near Pre-War| Production—Figures Show Growth of Industry. Special Dispatch to The Star. NEW YORK, September 1.— The story of world coal production and the share supplied by the United States is told in some figures com- piled by the Trade Record of the Na- tional City Bank. The tabulation shows that the world’s coal outpu: which stood at 1,141,600,000 short tons in 1910, the earliest official figures, had advanced to 1,478,000,000 in 1913, the vear preceeding the war, then drop- ped to 1,170,000,000 in 1915, slowly advancing to 1,306,000,000 in 1918, the closing year of the war, and stood at approximately 1,332,000,000 short tons in 1922, Accepting unofficial figures of pro- duction for earlier years, the total world output grew from 12,000,000 short tons in 1800 to 80,000,000 in 1850, 800,000,000 in 1900, 1,478,000,000 in 1913, and 1,332,000,000 in 1922. Meantime our own production grew from twenty long tons in 1814 to 6,000,000 in 1850, 240,000,000 in 1900, and 608,000,000 in the high record year 1918, dropping to 411,000,000 in 1922, the lowest record since 1908. U. 8. Greatest Coal Producer The ‘share which the United States supplied of world output in the years immediately preceding the war aver- aged 38 per cent, advancing to about 47 per cent in the closing year of the war, then dropping to 40 per cent in 1920, and but little more than 35 per cent in the year 1922, in which our production was the smallest since 08. / 2o United States, despite the ab- normally low production of 1922, still far outranks the other coal ‘produc- ing countries of the world. Tt is’ quite natural, adds the Trade Record, that we should not only head the list of coal producing na- tions but thaf we supply in normal years from one-third to nearly one- half of the world’s output. 99 per Cent Unmined. A world geological congress which met in Canada just before the war with the speclal purpose of discus- sing the coal reserves of the various parts of the globe came to the con- ‘lusion that the United States had slightly more than one-half cf the world’s known ‘coal reserve,” esti- nating our own underground coal supply at 3,854,000,000,000 metric tons, 1gainst - 1,234,000,000,000 in Canada, 96,000,000 in China, 403,000,000,000 n Germany, as it then existed, and 190,000,000,000 *in Great Britain. These figures suggest that the United States alone would be able to neet the-toal requirements .both at 1ome. and abroad for a very long reriod, -since the Geological Survey stimates that the 14,000,000,000 tons vhich we. have turned out in the 10 years since our coal mining be- 7an formed only about 1 per cent of he original supply, and that approxi- nately 99 per cent of this yast and aluable reserve still awaits the call £ the coal consuming world. EXTRA DIVIDEND VOTED. NEW_YORK, September 1.—Directors { the Borne-Scrymser Company, man- \facturers -of lubricating oil, have de- iared an_extra dividend of $3, in addi- ion to the regular quarterly dividend ) $4, both payable October 15 to stock ¢ record September 22. ; ELCTIER e T _HOLIDAY IN MARKETS. NEW . YORK, September 1.—Today a holiday on the cotton, coffee and sugar exchanges.here, catest, the money market | has ceased to be sensitive to what] the | im- | a i are not here for any big speculation from the existing price level. The prospects are for a satisfactory au- tumn in most lines of trade, but there is not sufficient incentive in this for an extended Wall street campaign. Nor must it be forgotten that there are many uncertainties to be faced during the next few months, both in European affairs and In politics at home. Reports that Germany is about to back down In the Ruhr have been réceived with considerable skepticism in financial circles. The vance in French and Belgian exchange, which come down. Decline in French Francs. French statesmen and publicists continue to put forth a bold front and maintain that there is no reason for | the recent decline in the franc. They have much to say about improve- ment in government revenue, but when it comes to dealing with the deficit in the extraordinary budget, vhich is reckoned at some thirteen billion francs. they take the position | that this will be met eventually by jGerman reparations as if this were an undisputed fact. The trouble is | that the world outside is not so onfident about France's ubility ollect as are the French spokesmen themeselves. Therefore, holders of French francs and of Belgian francs, have their funds in safer currenci {1t is not maintained that this liqui- ]‘dnll(nn has b n such as to justify th | description “flight from the franc. But it has_be |to disprove the charge that the de- {eline is the result of &peculation. Some Exchanges Very Weak. Both sterling and Italian lira have reached new 18ws for the year, but in neither instance is this a reflex of economic conditions. Great Britain is paving for the annual purchase semi-annual The fall uit of is still ing hen greater than any | preparing to meet the {interests on the war debt. {in the lira is entirely the re { the dispute with Greece, It some distance off from ba budget, but she has made progress toward this end Accounts of domestic busine con- ¢ that at no time has there general slump. “Situation Best Since 1919." But it is important to note that outside of wheat, oll, certain branches of the rubber industry and one or been any two other cases, there has been no jover production.’ In steel the stage has been reached where manufac turers are drawing upon their ac- cumulated stocks, which means that incoming orders are running ahead of output for the first time in five | months. ~ Bradstreet's summarizing the situation, says that “things are { better than a year ago, and indeed, | better than in any year at this time since 1919.” DAVISON CHEMICAL BREAKS 15 POINTS 1 Feverish Selling Furnishes Wall Street Traders With An- other Sensation. { BY the Associated Press. NEW YORK, September 1.—David- son Chemical Company stock, which on the New York Stock Exchange Thursday, dropped 15% points below last night's closing in feverish trad- ing today. On Thursday the stock made a spectagular jump of 20 points to 72, then dropped 22 to fluctuations resulted in the ordering t an investigation yesterday bv the stock exchange. { When the market opened today 100 shares were offered at 51, a decline of 1% points over yesterday's clpse. { The next sale, a” block of 5200 | shares, at '46. The stock crept up to 4813, fell fracti . i then to 41. actionally to 44 and Thero was a rally to 421, which was promptly followed by a drop of a point between sales to 37 OIL MEN VOTE TO PUSH BIG SELLING CAMPAIGN Special Dispatch to The Star. PITTSBURGH, September 1.—Pro- ducers and refiners of Pennsylvania crude declare they will not remain idle Wwhile a flood of low price oil threatens to “exterminate” their business. Sev enty-five producers and refiners, who met here, plan an organization which IWIII have "as its main purpose an ers the high qualities of the Pennsyl- vania product. ~ The mieeting was calied by Samuel Messer of Oil City. Two other Oil City men, E. C. Greene and Edawrd Lyons, were chosen as tempo- {ary chairman and temporary secretary | | BAR SILVER RATES, LONDON, September 1.—Bar silver, 30 15-16 pence Yer ounce. Money, 13 per cent. Discount rates, short bills, 2 15-18a3 per cent; three months, 3 1-16a3%. NEW YORK, September 1.—Bar sil- ver, 62%; Mexican dollars, 477%. ingly. money Qltar)er of a Century Without a Loss Main 2100 SEPTEMBER 1, 1923. PLENTY OF FREIGHT CARS. | The American Rallway Assoclation announces that although revenue freight loadings are the heaviest in Listory, there wers 74,917 surplus freight cars in good repair available for mervice on August 22. At the same time a shortage of 7,690 freight cars was reported. Surplus coal cars totaled 54,19, all of them at points where no di mand for them existed, while there was a shortage of 513 coal cars. LI L 0 14th St. Near G | Street Level We are offering this space with wide frontage on 1éth Street and approximately 3.000 square feet, located -in the center of the city's busi- ness section and adapted for financial purposes, or remod- eling for retail business. For full particulars consult SHANNON & LUCHS 713 14th Street N.W. I I, would certainly have followed ac- ceptance of these stories, has not oc- curred. On the contrary rates have | to! too, have, some of them, preferred to | n enough of a reality | lof American grain and cotton, while ' other country in continental Europe. |{ jtinue to bear out the relief that the | real turn came a month ago and that the present month will see more ac- tively in certain lines where there was a temporary falling off during the early sum . It is a mistak to discuss a general trade revival” when as all the major statistics, like the figures on car loadings. show went through spectacular gyrations| These wild | educational campaign to show consum- ' Main, 2345 N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N D L ALY, Money to loan on D. C. real estate. 1st and 2d | trust loans made promptly. Usual broker- Il age commission. See Mr. 'l Robertson 9 to 10 A.M., 4to 6 P.M. !l Francis A. Crawford, Inc. 903-4 Continental Trust Bldg. Money to Loan | ANY AMOUNT Reanonable Charges om Trade Acceptances, Warehouse Receipts, Manufacturers’ Accounts, i| Short-Term First and Secoma i Mortgages or Approved . Col lateral. American Finance Corporation Commercial National Bank Bldg. I When Buying Our | 7% First Mortgage Notes you get in addition to absolute Safsty of Principle, a prompt, courteous service that insures your interest being collected and remitted the day due. All 1|l our loans are placed on the i|| most conservative basis, less i|| than one-half tho market il value: guaranteed title ab- stracts go with notes, whether large or small amounts. Apply Mr. O'Donnell, Loan Dept. Amounts of $100 up to $5,000 available. |l cCHAS. D. SAGER 024 14th st. n.w. Loan Dept. M. 36 | ATTENTION | INVESTORS H —If you have money to invest, |]] why not have it secured by {ll first and second trust morte 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 il 6% to 7%. Francis A. Crawford, Inc. Real Estats Loans and Insurauce 903-4 Continental Trust Bldg. EQUITABLE Co-Operative Building Association Organized 1579 434 YEAR COMPLETED Assets . Surplus Join the Equitable and Save Systematically —You will find our systematic plam the most effective method of saving. 1 | | | | i | 1,207,381 i | Subscription for the 85th Issue of Stock Being Received Shares, $2.50 Per Month {NEQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. Money to Secured by first deed of trust on resl estats. Prevailing interest and commission. Joseph 1. Weller $2,W4h L &7rust First Mortgage Loans Lowest Rates of Interest and Commission. Prompt Action | Thomas J. I A i LCOKING AHEAD The successful investor is the one who looks ahead and acts accord- Looking ahead, he invests his in an investment that is good today and good tomorrow— an investment that remains at par every day—one that relieves him of all details and worry. OUR 6%% FIRST MORTGAGES meet the requirements of those who look ahead. In amounts of $250 and up. B. E. SAUL CO. 1412 Eye St. N.W. e FINANCIAL. T For Sale Cheap 125 Shares Par Value $10.00 Capital Stock Terminal Commercial and Savings Bank of Washington, D. C. Address Box 172-A Star Office 0. 22 LTI — ON FIRST MORTGAGES AT CURRENT RATES OF Randalt T Hogror & Co l i 7207 Conneclicut (Brence ’ In Convenient Denominations For Investors In tere§t 622% N2 Fiffeenth Strect Main 6888_| We Have Seven Per Cent First Mortgages In a Limited Amount Secured on Residential Properties in the Northwest Section of the City Write, Phone or Call descriptive Booklet “S” Denomination $100 to $1,000 WILLIAM S. PHILLIPS Realtor 15th St. at K St. M 'W. Main 4600 We have an abundance of money to loan upon mortgages in Washington at 512%. Wm. H. Saunders & Co. 1433 K St. A Dependable Income AN income which comes in spasmodically is a poor thing to lean upon in the way of financial aid. You can not plan a regular life unless you are assured a regular income. To be disappointed when éxpecting to receive a sum of money throws temper and disposi- tion out of place. Securities which depend upon whether business is good or bad can not pay a fixed regular return. But when you purchase one of our First Mortgage Notes, you _know .ahead of time how much you will receive, at what time you will receive it, and that you will receive it promptly at that time without fail. This is certainty of income developed to its highest degree. Swartzell, Rheem & Hensey Co. 727 15th Street N.W. 54 Years Without Loss to an Investor e ——