Evening Star Newspaper, September 4, 1923, Page 23

ot FINANCIAL. ALL LOCOMOTIVE RECORDS SMASHED Baldwin Sends Out 31 Engines at Rate of One Every Hour. Pennsy Gets Six. By the Awsaciated Press, ber 4 PHIL 1A, Septe Al 1 locomotive production | were s when thirty-one loco- motives, among the largest type pro- duced in American, left the Eddy- stone plant of the Baldwin Locomo- tive Works between 5 aan day and 11:15 a. m. Sunday, the com- ! g unced today' The engines were turned out at the « of one every hour. They weighed fr 000 to 100,000 pounds cach, Six locomotives were atur ; t to the M ¥. HEFFERNAN, NEW YORK, September i.—In face of developments over the holiday stocks on the curb market today showed fair resistance to the selling. Announcement that Humble OIl Company had met the cut in crude oil quotations made by the Magnolia Petroleum brought some selling into the mid-continent oils. A number of | the Standard shares went higher, but cased off when other parts of the list | became unsettled. Bear operators were active around 1-day and used the oil cut as a club uinst these stocks. Stundard of In- | diuna broke below Prairie Oil | and Gas, one of the largest purchas- Ing companics in the mid-continent iaun held around its previous close. Borne & Scrymser. which was bid| d Packers Penusylvania railroud, eight to the | W YORK. Sentember 4. —Follow- inois Central while the remainder | s an ofticial list of bonds and were shipped to other roads through- | s traded in on the New York out the country with the exception)Curb Market today . of four designed for export trade. | | smies in BONDS thousunds High. Low. Close } COTTON’S STRENGTH IS BIG SURPRISE| Market Experts Wonder at Firm- ness in Face of Appalling Tragedy. BY GEORGE DEWITT MOLLSON, Epecial Digaateh to The Sta NEW YORK, September 4 —Steadi- of the cotton market in the of the most appalling tragedy in modern times proved the event of the session Inability of most guagé the efiects of such whol destruction of human life and prop- erty as is reported from Japan p dueed an extremely cautipus attitude Scattercd selling took place during | varly trading, but don stic and for- { | operators eign trude ubsorbed all cotton for sale within a narrow range and after two hours’ trading quotations were virtually those at the close on Friday. . Commission house busine, naturally curtailed by events abro 80 that the volume of speculative operations diminished materially. Yet purchases by mills proved substan- 1l Liverpool showed how seri- ously the foreign trade has taken the ! government report as Burove hasl been count on o 12,000,000-bile catton «rop. New Orle: however. reflected pressure of hedge selling o that the market met cotton on i udvances above the cent level for October and December here, sidering the loss shown in crop ts by the Department of AgTi- culture, it is evident that the trade is facing the third short crop in suc- cossion and that. with a carrv-over of n cotton the smallcst on record, action of the market in risi rapidly a cent a pound was hardly | surprising. Outside surroundings tend to keep sentiment conservative, but larger buying power from the trade re- fects growing anxiety of mills over | the necessary supply of raw material the coming twelve months. » TODAY’S COTTON PRICES. Disaster in Japan Leading Factor in Market Today. i NEW YORK. futures opened December, 24.90; March, 24.80: AL mar- ket was nervdus and irregular dur- ing tod. early trading. There was further buying on-the bullish view of last Friday's crop figures, but sen- timent was evidently confused by the character of general news develop- ments over the holidays with partic- ular reference to the Japanese dis- aster. This led to a good deal of realizing. S Futures—11:45 am. bids 1 steady. 5 December, 24.98; Janu- : March, 24.77; May, 24 > ANS, September 4.—Cot- | futures opened steady. October, | 24.33: December, 24.38; January, 24.54; { March, 24.3 34. The mar- | et opened lower today under uncer- tainty regarding the effect of the panese disaster on world markets Cotton futures—11 24.41: Dec March, 3 ORK, ton quict: middling, 2 tures closed e mber, Spot cotton stead Sales on the spot, Low middling. good middling. £tock, 45,850. Cotton futures closed at net losses af 41 to 52 points. October. 24.05a 24.10; December, 24.15824.18; January, { 24.09424.14; March, 24.14; May, 24.07.1 TRADING IN RAW SILK SUSPENDED ociated Press NEW YORK, September 4 —Trading in the raw silk market here was suspended today and probably will | not_be resumed until the Jupanese | marlket reopens. All offerings of raw | xilk in New York have been with-{ drawn i ; middling, Receipts —_— BOLTS AND NUTS CHEAPER% IN SPITE OF 8-HOUR DAY| Better Conditions in Steel Mills Have Not Caused Threatened Boost in Prices. ! ‘@pecial Dispatch to The Star. . ! CLEV September 4. — | cial att ng given to pr | hoth by consumers’ and mepufac- | turers of steel products, as a/result | »f the shift from the twelve to the ! eight-hour day. Although the trade | does not expect to pay more in the! fourth quarter than at present | Northern Ohio producers have given| no_indication as to what prices will ‘be A 5 per cent reduction has been | made in bolts and nuts, but it is re- | ported this is due to a desire to meet | keen competition. Automobile manu- | facturers are placing heavy orde: for sheets for fourth quarter deliver: Prices in most cases are to be deter- mined later. | SR = 1 LIVERPOOL COTTON. { LIVERPOOL, September 4.—Cotton fair demand; prices easier. (ood middling, 16.00: fully middling, | 15.55; middling, 15.00; low middling, 14.70; good ordinary. 14.20; ordinary, 13.90] ~Sales, 8,000 bales, including 2,100' American. ' Receipts. 3,000 bales, fncluding. 1,600 American. Futures closed firm. September, 58; Oct : December, 1 ELECTRIC EXPERT SAFE. NEW YORK, September 4.—A cable message from Kobe today by the Tnternational Western Electric Com- spany reported the safety of D. F. G. & Eliot. comtroller of the Nippon Eiec- tric Company, its associated company in Japan. ———— About 250.805:000 tnos of coal were anined in Great Britain last year, jat 101, 1 at 101, 1 at 101, 1 at 01, o1 { Tern Prek mer 0if 12 Armour Co Dl 3A G & WL Reaverhard 8. . Reth 4 Charconl 1M R 1 2 Citios Ser Fisher Rody_ 6 1 Gair. Robt, 7, 1 Galenn 1 11 ¢ enoral 10015 1 Hockin 1000 2 Inte 104 16 Ken; Cop Tx L 1M, 2 Libby MeN & 1 7« 991y EA 3G 1000 1nter Pot Co. 0 Magnolia Per 01l new R0 Prairie O & Gas 400 Prairie P L. Ltd 10 Swan & 700 Vaeuum Wy 0il Carib Syudic len Lock Oil Guif Ol of Pa 2 Humphreys 0il 180 Kessione Ranger 1 Kirby Pet 1 Lyons Pet . 57 Murland 4 4 Mex Panuco.. .95 S Mount Prod S Y LT TP ¥ T Mutua! Ol vtg cfs. 9%, 9 3, 31 New Mex Land. ENTON.:... 1 107y Washington Stock Exchange. SALES Washington Gas 6 1933 %300 at 101, $100 | at 101 Capital Traction Co.—0 at 101, 1 at 101, 1 AFTER CALL, Washington Gas 65 1933—$1.000 "at 1011, £100 at 101 Riggs Natioval Baok Rights—2 at 95, 1 at 95 ¢ Tanston Monotype—10 at Moncy—Cal loan: 1. 10 ar 721 5 and 6 per ceat PUBLIC UTILITY. American Tel. & Telga. 4s.. American Tel. & Telga 41550 . Am. Tel. Te Tel, & & P. Telephon: pital Traction R. ty and Suburban 5 Georgetown Gas 1st Metropolitan R. R. Pctomac Elec. ist Gs. Potomac Glec. cons. 5y Potomue Elec. deb, 6s. Pot. Elec. Pow. £. m. Pot. Elec. Pow. g m. Wash., Alex. & Mt Wash., Alex. & M. Ve Wasii. Bait. & Agnap. i Washingto Z Washington G 016 Wash. Itw Wash, Bwy. & E D. C. Paper Riggs Realty & It ong) tizgn Res (short) . et Stor afe ep. Wash. Mkf. Coid Storage son Wardinan Park Hotel 6. i STOCKS. PUBLIC UTILITY, Ameri & Telaa.... Capita o i0iii Washington O Norfulk & Wasi. 0 Wash. Rwy Wasi Capital Columbia Commercial Districr Farme Fed o Higss Nutional Bank idtglits. S MiEepdeadie i National ‘Bank of Washington 0 TRUST COMPANY. American Security & Trust. Continental Tru 0 Merchants' Bunk 71, Natioual Savings and T Tnlon Trust.. : Washington Loan anc SAVINGS BANK. Commerce and Savin, Union. TITLE INSURANCE. Columbia _ Title. Real Estate Titie. MISCELLANEOUS. Columbia_Graphophone com, Col.Graphophiove pfd. D. C. Paper pfd. Merchants' Mergenthaler 0ld Dutch Market com. 01d Dutch Market pfd Janston Monotype. Security Storage. shington Market, Yellow ~Cab.... “Ex dividead, ational notype. . NEW YORK CURB MARKET Received by Private Wire Direct tc The Star Office of an ex regular semi-annual rate of $4, opened a point higher, but sold off later. Oils appeared in supply motor. | the leud of Sweden—Demand, .2639. Austria—Demand, .0000141;. Rumania —Demand. .00461% mand, .3 Montreal—Demand, .9 and closing quotations, at | By the Associated Press ' expre tinue to ree Stock Exchange was suspended for a urer of the exchange, was designated |'!'HM:PW. Inc., today declared a quart- dends were on ap anpual bagis of 31 ' THE EVENING STAR, WASHINGTON, D. C. TUESDAY, One Locomotive |PROSPERITY GROWS | Money to Loan Securcd by first deed of trust on real esta up sharply following the declaration ra dividend of $3 and the In the independent group Mexican Large blocks of Marlund of Mexico ®hanged hands around recent quotations. Mexican Panuco and Mexico Oil were also sub- jected to realizing. Humphreys sold off somewhat. Industrials were active, but with little feature. Paige Detroit Motor, however, was dealt in for the first time- in’ over n week at an advance of more than 2 points. Others of the up did little. Celluloid Con preferrcd showed improvement. advincing almost 3 points betwec sules. Coal stocks cume down slight- 1y with the rest of the market under len“Alden, Low-priced members of the mlnln:’ pa group displayed their usual activity, with Goldfield Florence in slighuy vetter demand. nock Ol 10 Roval (an 0 Sult (k- Conx Sapuipa 1 aboard 01 1 Ntates 01 Turman 0il 3 14 Wileox 0il & tax INDUSTRIAT Rorden & o, Rrit-Am o Hudds Ruds 1 Campbell o pra. 1083 Ty e cker Cab Mfd A Chicago Nipple.. R Trist & Lt Saf Raz.. don Conl r Tire 3 Non & Man RO O10% 1010 105 3 Intl Contl Rubber.. 3 3 2 MeCrory Stores new o Mesabi Iran . Co pfd 13 Radio Corp 4 | ifd um e Corp ton Loom~ 0 ¢ & 1 new udebuker Wit i wift & ( MINING 1 Alasks Rrit (ul Arizona Glole o her Extens 20 Boston Mont Corp 16 Canario Copper 60 Candelaria Min i m Cop Min tmp of eIl Min » Nevadu Hecla Mi 2 Homextake Fxt Independence Lead Kuox Divide.. Cop N Y Honduras Min Nipissing : ited Hill Florence . Rex Cons Sun_Toy ... Sil King Div’ Mi and Silver Lea arliend Goid.... 13 k Hughes....... 1ty Temiskaming Min. .39 14 Tonopah E 1 14 : | 30 i 2 West End Cons i | 20 West Utah........0 ‘38 { 1 Yukon Gold. S | 1 FOR| September 1, —11:45 am (Quotations furnished by W. B. Hibbs & Co.) Nominal Seiling checks gold value. London, Montreal Berlin, easy: cre dards centimes. 40_centimes. Rome,” lira...... Athens, drachina Madrid, peseta.. Cienna mark Press. h ptember 4. —Foreign changes easy. (Quotations in United States dollars): (Great Brit- ain—Demand. 4.521; cables, xty-day bills on bank: France — Demand, 05 y—Demand, p: Belgium 0462; cable. 046213, Demand, .0000007; cable: .0000009. Holland — Demand, _.392: cables, 392613, Norway-—Demand, .1622. Denmark— Demand, .1825. Switzerla Demand, 1800. Spain—Demand. .1 Greece —Demand, .0184. Poland—Demand, 000004%. Czechoslovakia—D4emand 02961%. Jugoslavia—Demand, .0107%. Germany — Argentina—De- 0. Brazil-—Demand, .1000. CHICAGO STOCK MARK. CHICAGO, September 4.—Following is a report of todays sales. high, low he Chicago Stock Exchange: les. Low. Close. | 881, | k& wart Warner . CTnion Carb & Carb ellow Mfg B Yellow Taxi tal sales, 37,500 shures. —_— MODERN PONY EXPRESS FAR AHEAD OF RECORD STEAMBOAT SPRINGS, Colo., Sep- tember 4.—Riders of the modern pony s, on their dash westward from | St. Joseph, Mo, to SanFrancisco, con- Jff the miles in record time, as they push through western Colorado. Dashing into Steamboat Springs af: ter midnight, far ahead of schedule, | Charles Tipton, famous range ride of the northwest plains, predicted that he would reach Craig, Col., fifty | miles farther west, six hours ahead; of schedule. George Long, who has the contract for negotiating ,the last lap to be ridden in Colorddo—101 miles, from Craig_to the famous “K' ranch, at! the Colorado-Utah border—said that | i | if the weather holds good the mail | would be delivered to the first Utah rider from seven to eight hours ahead of schedule. STOCK EXCHANGE APPEAL.; NEW YORK. September 4.—Trad- ing upon the floor of' the Consolidated few minutes today while President Laurance Tweedy delivered an ap- peal for aid to victims of the Japa- nese disaster. He read the President's proclamation and urged all members to contribute. John E. Hoey, treas- to receive donations, MACK TRUCK DIVIDEND. NEW YORK, September 4.—Mack erly dividend of $1.50 on common stock of record, September 20, pay- able October 1.' Last vear the divi- To Replace Four On Union Pacitic Special Dispatch to The Star. KANSAS CITY, Mo., September 4. —The Union Paacific railroad has bought nine Pacific type locomo- tives from the Baldwin Locomo- e Company, to pull trains be- tween Denver and Kansas City. Each will take the place of four engines. FEAR TOKIO MILLS MOSTLY WIPED OUT New York Firm Gets Cable News Osaka Mill District Is Not Harmed. By the Associated Press. NEW YORK, September 4.-—Bald- kart Brothers of this city, an inter- national house, with extens and silk interests in the Far East, to- day reccived the following cable from their representative in Osaka: No news received so far regarding {the mills in the Tokio district. How- ever, it is rumored they are mostly | destroyed, involving about 600,000 spindles. 3 “Osaka mill district not harmed.” CARPET MILL RUSHED. One of Wor!;i's Biggest Firms Has Many Orders Ahead. WORC largest carpet manufa during the last two favorable to the car cording to ) of the comp carpet industry. following the effec! of the war depression in the indus try and a strike. an the supply until the la Retailers are ordering and their stocks are moving steadily BUTTER MARKET EASY. CHICA 4 et_industry, thew P. Whittall. head PARIS BOURSE FIRM. PARIS, September 4.-——Prices were firm on the Rourse today. Thre percent rentes 57 francs 55 centinies. Exchange on London 80 francs, Five percent loan 74 franc: The dollar was quoted at 17 franes. centimes. COMMODITY. NEWS WIRED STAR FROM ENTIRE COUNTRY AKRON. Ohio, September 4.—Cur- [tailment in the production of tires continues in this district. The Seiber- | ling Rubber Company has shut down fts New Castle, Pa., plant for an in- definite period Castle plant will be kept in shape for immediate operation when demand increases. ST. PAUL. September 4 —Sand, gravel and crushed rock for the new Ford plant and other new structures jat High Dam will be transported by || water as a result of a new project |l Barges u.u} carry the materials from pits in the | j just inaugurated here suburbs ST. LOUIS. September 4 niture factories have clos temporarily and others are curtailing production. Buying is largely on a hand- tailers who are holding off for lower pri Prices of finished goods are steady with some reductions in cer- tain grades of lumber and hardware use FORT WORTH, September 4. survey of practically every pes growing section of the state by W. Cole of the state department agriculture indicates a 000 pounds. This is about above the average for five years, but 54 per cent le: of 1919, CHICAGO, September 4.—There has | been heavy trading in provisions for the last week, heavy hams being the | only exception. tural districts. This is being reflected in trade. The rising cotton mark abilized conditions in textlles and | 4 ng among retail- | Collections are sutisfactory, and | nother week farmers will begin | to discharge their debts to the banks. | ve cotton | STER, Mass, September 4. 1o Whittall Associates, one of the! cturing con- cerns in the world, i¥ working atj capacity and still carrving orders! enough on its books to keep busy forl several months. Conditions generaily | ars have been iy Two years ago thel egan 1o improve ! generally, the demand exceeded | few weeks. | IN COTTON BELT Farmers Soon to Begin Paying Off Money Borrowed From Southern Banks. Specia) Dispatch to The Star. FORTWORTH, September 4.—Money becoming mote plentiful in parts of the southwest. following the heavy movement of cotton to market, | | the employment of thousands in the {flelds and the operation of the .’;ms! day and night. There is a general shortage of help in all the agricul- Women and children | 4re being attracted to the flelds by | the high wages offered cotton pic! stimulated bu Association Organized 1879 43d YEAR COMPLETED ..34,750,783 .............. $1,207,281 Join the Equitable and Save Systematically —You will flad our systematic plan the most effective method of saving. Subacription for the 85th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JONIN JOY EDSON. Presideat FRA K P. REESIDE. Secy. Joseph I. Weller &8W4% & SEPTEMBER 4, 1923 Prevailing interest and commission, . & Trost 7 N.W. 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., 4to 6 P.M. Francis A. Crawford, Iac. 903-4 Continental Trust Bidg. estate. Second Trust Loans Made promptly on D. C. real Call 9 to 10 am., 3 to 5 pam. | CLIFFORD A. NEALE etail | has EQUITABLE Co-Operative Building than one-half the value: guaranteed title ab- large or small amounts. Mr. O'Donnell, Loan Dept The ‘Barberton plant | will continue to operate and the New | o-mouth basis among the re- | ield of 9,384, | 0 per cent | than the bumper crop | | When Buying Our 7% First Mortgage Notes you get in addition to absolute Kafety of Principle. & prompt courteous service t at insures our interest being collected 1 remitted the day due. All loans are placed on the most conservative basis. less market racts go with notes. whether Apply Amounts of $100 up to $5,000 available | CHAS. D. SAGER 924 14th st. n.w. Loan Dept. M. 36 —I1f 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 Estats Loans and Insurance 903-4 Continental Trust Bidg. Money to Loan : ANY AMOUNT Reasonable Charges on Trade Acceptances, :r' rel e Recelpts, Mortgages lateral. American Finance Corporation Commercial National Bank Bldg. Investigate Qur List Of Apartments For Rent —and be relieved of the worry of apartment hunting. We have a large number to offer, well located and of pleasing arrangement. These apartments are in the several sections of the city and each has particular merit. has -every facility to serve you. They vary in size from one room and bath to ten rooms and four baths, Our rent department In price they range from $40.00 to $350.00 per month. H. L. RUST COMPANY Main 6888 FIRST MORTGAGES The Oldest and Highest Paying 912 15th St. Investment Consistent With Safety Reliable Security Liberal Income . Protection Against Depreciation Prompt Payment of Interest Repayment of Principal in Full at Maturity ¥ ‘Write, Phone or Call for Descriptive Booklet “S” \ ' Denominations $100, $250, $500 'WILLIAM S 15th’St. at K St. N.W. and $1,000 . PHILLIPS " Phone Main 4600 1410 H St. N.W., Room 412 Intrinsic Value The activities of The National City Company in financing the needs of big and respon- sible leaders in public and private enterprise are reflect- ed in our September list of Bond offerings. About 100 recommendations are listed. This should be a valuable guide to aid you in selecting investments of in- trinsic value that meet your needs as to maturity and vield. Copy mailid on request The National City Company ‘Washington Our “Property Man- agement Department” is all that the name im- plies—because we have developed and special- ized in this busines RENTS B.F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 The Merrill Corporation Office 606 ¥ St. N.W. Main 515. ‘Washington, D. C, Builders. Gentlemen: Please tell me how T can get more than 10% on a good, safe Real Istate investment in cen- trally located, income-pro- ducing, improved property. Name ‘Telephone ‘ 2207 Cnneclicut FINANCIAL. * o3 Capital & Surplus. $2.000.00000 If Coming Downtown is inconvenient for you, we’'ll be pleased to have you do business with us by mail. “Uncle Sam’s” postal facilities enable us to extend vou SATISFAC- TORY BANKING SERV- ICE, no matter where you may reside. Glad to an- swer your inquiries &% Deposits _welcome i any amount—SAME RATE of interest paid on large and small accounts. National Savings & Trust Co. 56th Oldest Savings Depository in Washington Year Cor. 15th and New York Ave. MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Randalt H Hgner & | oS A Dependable Income _\.\' income which comes in spasmodically is a poor thing to lean upon in the way of financial aid. You cannot plan a regular life unless you are assured a regular income To be disappointed when expecting to re- ceive a sum of money throws temper and disposition out of place. Securities which depend upon whether business is good or bad cannot 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 ALLAN E. WALKER INVESTMENT CO. Statement of Condition—June 30, 1923 Comparing Net Worth Based on Book Value, Our Conservative Appraisal and Appraisal by Ford, Bacon & Davis, Inc. Cash on hand in banks..... Accounts receivable. Notes receivable. . ... Current securities.. . . Current real estate equitie.s: o Total current assets. ...... Stock investments...... Furniture, fixtures and struction equipiment. ... Total Accounts payable........ Notes payable. .......... Total current liabilities. . . Other liabilities. ......... Net worth......... Total . ..cneevevmacis ... $2,422,23793 ASSETS. $13,171.62 $13,171.62 $13,171.62 37,277.15 37,277.15 37,277.15 244,172.32 244,172.32 244,172.32 37,000.00 137,200.00 137,200.00 353,158.61 525,589.95 577,182.95 $684,779.70 $957,411.04 $1,009,004.04 1,731,950.00 2,365,156.25 3,979,690.37 5,508.23 5,508.23 5,508.23 ce.. $2,422,237.93 $3,328,075.52 $4,994,202.64 LIABILITIES $114,078.93 $114,078.93 $114,078.93 584,321.37 584,321.37 584,321.37 $698,400.30 $698,400.30 $698,400.30 313,888.85 318,883.85 313,883.85 1,409,958.78 2,315,791.37 3.981,918.49 $3,328,075.52 $4,994,202.64 Contingent liabilities are estimated not to exceed $100,000.00. I hereby certify that the above statement is true and correct. (Signed) FRANK B. HOAG, Comptroller. SUMMARY Net assets. .........$1,409,953.78 $2,315,791.37 $3,981,918.49 Proceeds sale of 12 per cent pre- ferred stock (now being sold) 1,500,000.00 . $2,909,953.78 Total net assets....... 1,500,000.00 $3,815,791.37 1,500,000.00 $5,481,918.49 Present condition of principal items listed under “Stock Investments” is set forth in circulars available to prospective investors. 3V Per Cent on $5,480,000 Equals ..................$181,800 12 Per Cent on $1,500,000 Equals .............. .. 180,000 For full particulars concerning our issue of 12% Preferred Stock see our Securities Department. . 1 - Allan E. Waiker Investment Co. : Securities Department 4~Suite 517 Southern Buildjng