Evening Star Newspaper, September 16, 1923, Page 30

a0 3V Mt. Vernon Bark Adepts Plan To Help Depositors’ Accounts FINANCTATL Special Department to Urge Customers to Use Service More Freely—Prices of Local Securities. 'he Mount Vernon Saving: ing business depart- t which be| functioning latter pa month, with Frank Lee It was learned it the institution terday. The primary object of the new di- sision, Vice President Willam R. BIJHI explained, will be to develop accounts now in the hands of the tution. These embrace ubout 5000 Christmas savings accounts of pproxim: an $200,000 000 commercial and sav- including the insured wccounts, It will e, who is well shington, par- laboring and fra- enroll every cus- lomer of the institution in every de- Jartment the bank bousts, Includin N troe i bousts, g | In the first six montha of the cur- division. | rent year the company reported esti- The Mount mated earnings of $47,047.082 avafl- : able for interext ugainst interest churges of 36,467 These nings are with $40,61 vallable for Bank s t 5s on December 1 of this year, §40.000,000 American Telephone and ‘Telegraph five-year 6 per cent notes and $10,000,000° Michigan State Telephone Company first 58 on Feb- ruary 1, 1924, and $11,250,000 Bell Telcphone Company of Canada de- benture fs on April 1, 1936 The manner in thich American Telephons and Telegraph Company's earnings have kept pace with in- increascs In funded debt is indicated by a comparison of operating income with interest charges for the past ) years: pany a new will of t in charge, Interest Charzes R 18, Operating ngs custome nd school s the duty of ) <nown throughout W icularly by the ternity classes, 1919 10 1018 . 1917 . 16 1915 Vernon Savings Bank ungualified success sin. t doors | with | Com: 9.9 aEainst charges of $9.868.- » corresponding months of Prices of Local Securitles. The _following latest “bid" ed” prices for unlisted local curities 1v reproduced for the guld- ance of holders of these lssues: BONDS. , with surplus and livided profits of $21, In addition, | hero s $4.000 sctaside for_interest and special reserve of § 0. AfY the institution are ad-| vinistered by Golden Donaldson, | halrman of the board; William Mueh- cisen, presid ; Willlam H. John- ston, president; I3, C. Davidson, e pre: ent; Willlam R, Baum, vice esident and cashie Robert T. sistant cashier, and Hay N, counsel, eption it has risen -ommanding position among Jocal | avings banks, the last statement of sondition reported to the controller % the curreney showling It occupying fourth position in the ranking. Utility Bonds Popular. financial position and coupled with an freedom from Vic made the lephone and subsidi- Asked. Army and Navy Clud - 4 !ruy Club Ta.... Metropolitan C to a Chapin-Sacks %% pfd. o prd “itlzens Naviogs Bank ‘onnecticut Ple Ce..... ‘hristiun Heurich Hrewery in_Hotel Co... Vistrict Title los. hange Baok Frankiin National Baak. i | | i Northenst X Park sav ut examp Fotomac s furnished by ange Controller Nnmed. ment of government con- |troller of foreign exchange in Ger- many was announced in a cbalegram from Commercial Attache C. E. Her- «t Berlin, received vesterday by cree peculation in n exchange and to lmit its use to the actual needs of trade are to be irough the new office on nsus of all own. foreign sccurities and cur- While primarily for taxation in accordance with a new um, the measures to be carried out have broader implications. The actual powers granted to the new controller are restricted, how- |ever, and supplies of foreign ex- change necessary for legitimate busi- ness transactions are cxpressly ex- empted from seizure vertible ranges tively The le recc tive, and ci soundest fina cont behind it N financia dherence to the cial practice has result- ous growth in the bonds. That thes bandon this con tcated 7 last of a the capital stock from §3 ,000,000.000. ‘This inc is intended to provide | to meet bond maturities in the should it be found ue stock for this are Com- ma APPFOAChINg x Telephone 0 Chica Jare slow sale and have to be sold at ETS. X I‘IVE( SITF)C§ 1MAS_R§MW 15 | ® discount. Quotations today ut Light BALTIMORE, Md, Septe B atieat st (Bpecisl) - =Tha 'EOECIAR e ""m‘ | Beef cattle, first quality, 1b., 8 to 10; market rules aasy NACONAS = Feoe D [madium, if,, 7 to §; bulls; aa 20 qual- and moderate demand that s S tered principal stock fIrat Ih. 6 to on €0 fuir, b, quality. hoat mostly . as to qualit cholce to ta common to 1 calves, veal, ;' ordinary to medium, 1b., § to 11; Spring lambs con- |rough, common, thin, 1b., & to'. but old sheep | Sheep—Choice. 1b, 435 to 5%; | bucks, Ib, 3% 1o 4 common, 1. : lambs, spring, cholc |14 ‘tair to good, 1b., 19 to | thin, b, 3 to 9. Hogs——Straight, 1b. 9 to 10; sows, 1b.. 7 to 8; stags and boars, 1b., 4 to &: . as to size and quality, b, 1b., § to 10, is to find faver Choice of in lght reeeipt n shade firmer. tinue in_good demand, For Rent—Offices Physicians Surgeons and the market Medical Science Building Avenue reet N.W Army and Navy Club) 1616 Eye Street N.W. J. EDWARD THOMAS 419 Southern Building Tel, Fr. 7542 1.50a udy: no ‘roceipts. Veals, ; culls‘and little calves, 7.00 : butter milk Sheep, lambs, g5—S no receipts Light {to medium “weights, '.0689.15; pig 9.50a9.70; fla\) hogs, 9. 35a9. al' rough Apartments for Rent| 2222 Q Street N.W. Near Sheridan Circle, Best Location Large Rooms Reduced Rents 4 rooms, reception hall and one bath 5 rooms, reception hall and two baths_ Weller Construction Co., Builders Agent on Premises H. L. Rust, Atent 912 15th Street NW. ’t Delay Your Inspection of these most delightful Apartments in ~ RKetv Gardens 2700 Que Street They are rapidly filling—because they impress with their many superior features—and. the refined atmosphere which surrounds them. They offer Apartment residence at its very best. Available are choice suites of from three rooms and one bath to seven rooms and two baths—$70 to $200 per month. The Resident Manager i u lt ice—day or ewninx. im show you these truly han ome Apartments Harry A. Kite (Incorporated) 1514 K Street our serve i THE SUNDAY '—192I | . ! i | TAR, - WASHINGTON, - D. C., SEPTEMBER 16, 1923 PART RANGE OF:MARKET AVERAGES | lllll'lfIl'iIl Il[l‘ i T'“r'-m { tive stocks dealt in on t April, 1921, up to curve represents indicates volume by the Wall Stry of -t Journ: Lp to and including BONT and P. Tel of Va { E ashington Gas 6: 4 000—. \n.L and Pot. River R. R und P. Telephone 1st PA!UI Traction 1st s 7 < . Power { 54,2 - Power 500—Dis. of (Col. Paper Mg. ¢s. it pre i ¥ Ar —Liberty National Bay ~National Metropolitan Ban Bank 20-—East Wash. Savings Bank. 20—Sec. Sav. and Com. Bank —Wash. Mechanics’ 31—Firemen’s Fire Insurance 100—Columbia Title Insurance. 41—Real Estate Title Insurance 1,33—Mergenthaler Linotype . 04—Lanston Monotype 523—Washington Market. 0—Banking Trust and Mortgag izens' Savings Bank. '&x—[)apartmnnl.ll Bank . —Munsey Tru: 200—Northeast Savings 46—District_Title Insuranc 76—Wash. Title Insurance WHEAT GOES DOWN | IN CHICAGO TRADING Heavy Marketing of New Crop in Canada Breaks Prices as Week Ends. By the Associated Press. CHICAGO, September 15.—Heavy marketing of new wheat in Canada led to a downturn today in prices her The close was heavy, % cents to 1 cent net lower, with December, 1.01% to 101%, and May, 1.07% to Illlll NERFTRYrNE The chart above shows the high and lo New York Stock nd including the week ending September 1 0 industrials and outline es of all stocks. oats a shade to ¥ cent. In pro- visions there was a § to 15 cent ad- vance. It was estimated that 14,000,000 bu- shels of wheat had been marketed this week at country points in the three prairie provinces of Canada, and values here soon developed weakness after a little show of strength at the art. Initlal gains were in sympathy with the early firmness of prices at ‘Winnipeg and Liverpool, a condition due, more or less, to gossip that re- cent extreme bearish estimates of Canadian wheat production were cal- culated on acreage figures, 1,500,000 acres too high. Liberal export busi- ness at the seaboard, including 1,100,- 1000 bushels for Greece, chiefly Ca- nadlan wheat, but partly durum, tend- ed also to lift the market in the first |was not offered freely from first hands | December, part of the day. Selling here credited to forelgn ac- count had apparently considerable to do, however, with facilitating the wheat price decline whieh afterward took effect. Week end evening-up of ! trade failed to bring about any decid- ed rally and the finish was 5 cents under the high point on Monday. Corn and oats receded with wheat,| notwithstanding persistent reports of frost damage to corn. An upturn in lard quotations at Liverpool, hoisted provisions. STOCK BROKERS FAIL. NEW YORK, September 15.—~An in- voluntary petition in Mnlfl!x"ll filed today lnlnal Atlas, r & ! Co., stock brokers. = Liabilities were ehtlmatod at $15,000, with assets of $3,00¢ How Did He Know? From Pall Mall Gazette (London.) Maglatrato—You are charged with belng drunk. Have you anything to Olllprlt—- ve never been drunk.in my lite, sir, and never intend to be, inr it uw-yu makes me feel so bad in the morning. —— Something like 35,000,000 dolls are required each year to supply the - mands of American children. 1.07%. Corn lost % cent to % cent, and ! ERENLIE EEN lquuF."m . by weeks, of forty represent change, from the firs of Solid | curve 20 rails. Averages used are those complled The Year 1923 to Date on the Washington!-. Stock Exchange. Furnizshed by W. B. Hibbs & Co. riday. September 14, Opening. Hi ecurity Storage and Safe Deposit. UNLISTED DLPART\XL\T. 50—American_Com. and Savings. . WOOL MARKET BROADER. Fairly Heavy Sales Reported in Boston Yesterday. Special Dispateh to The Star. BOSTON, September 15.—The wool market noted wider activity in the past week, with fairly heavy sales. The trade still is spotty, however. While the continued strength at the London auctions has not had a marked influence on prices here, it 1s asserted that manufacturers are not now find- ing things all their own way. Rail and water shipments to Boston from January 1 to September 13, inclusive; were 98,944,300 pounds, as compared with 89,145,675 for the same period last year. DRY GOODS QUIET. Silk Hosiery Not Offered Freely in Saturday Market. ‘W YORK, September 15.—Cotton goods markets were quieter today. Prices were steady, with finished goods firm. Yarns were firm, with knitters and weavers buying mod- erately and resisting advances. Knit goods -in general were in stronger ehape, due to the rise in raw ma- terlals and the resumption of buying for fall replenishment. Silk hosiery because of the rise ip raw silk. Burlaps were quiet and fairly ateady. Linens, both in household and & lines, were in better demand. S k fabrics continued very firm. Some lower prices were obtainable on Can. ton and Shanghal raw silk and in the trading between second hands. Japan grades were not held eo high. FINANCIAL NOTES. Lower section | S TOTONADIANGES IN BRIEF TRADING. Market Closes Firm After| Sharp Rallies Follow an Early Decline. i i | i 1 ( By the Associated Press. NEW. YORK, September 1 clines from an opening advance were followed by rather sharp rallles in the cotton market today. After mell- ing at 27.59 at the start December broke to but closed at 27.60, with the general market closing firm at net advances of 17 to 25 points. | The market opened steady at an ad-y vance of 21 to 25 points, owing. to_the continued strength of Liverpuol and bullish Manchester trade advices. Oc- tober sold at 3 and January at; 27,19 during th few minutes on : buying and covering, but this nce to approximately tie 28-ces level again brought in realizing. Son scattered southern hedging was also reported, market worked off of the morning. and 26.90 for Jan- | about 3 to 6 points net lower, ! appeared 1o {prices turned upward jmorning on covering week end and comm ing. The latter was & {ports thut there of cot lewaiting {pointed to 1 27.32, demand for tton abroad increasing trade r Lancashire. October closed and Januaray at or about points up from the lowest. - Pri cables received from Liverpool morning said the market there was easier at the opening because of In- | oreased hedge selling. but had rallied | on u moderate demand from Manches- ter. The unsettled tone in the stock mar- {let probably accounted for some of > selling of cotton here dur middle of the morning, but much |the business was attributed to evening up of commitments for over the week end. Sales of print cloths in the Fall River market for the week ‘v\v-rv estimated at about 170,000 | pie e, Yew Orlenns Cotton Prices. NEW ORLEA September atton N ed | guins JAPANIS ORDEF []RI]ERING * VERY LITTLE STEEL ;’Actual Buying From Quake { Zone s Disappointing to Producers in U. S. NEW YORK, September pects for new business in th ket are considered favorabl from railrodds. While a large amount of stee] will doubtless be required for | the devastated area In Japan, jbuying from this quarter thus far has proved disappointing. The fact that filled orders on the books of the Steel Coryoration showed 2 sharp August drop also was disappointing and gave the market a slightly heavier appear- ance. Pig iron was quiet and easier. { The fuel situation was more favorable and buyery were not disposed to pl orders much ahead of immediate re- quirements. i | _Copper was quiet and about steady | Reports of possible curtailment of out put by producers under the 14-cent level encouraged a firmer view of prices | earller in the week. vero conservative. 15.—Pros- Domestic buyers e free sources of production and the cline caused buyers to retire. nced by the leading e in the week. Although buving was less active, prospective con- sumption requirements appeared large. Offerings of zinc were liberal for nearby shipment and the market ruled selling at long de~ ¢ quiet, although holders re- | H mained stea BOND PRICES FIRM. Move in Narrow Range During Short Saturday Session. NEW YORK, September 15.—Bond prices moved with a narrow area in today's brief and relatively dull period of trading on the New York Stock E change. United States government bonds generally were unchanged, the Treas- ury 4%s declining 4-32 of a point and the first liberty 458 yielding 3-32 of & point. Gains of one by Serbian §s and the Cuban 548 were the only! outstanding changes among the for- elfn issue: H Rallroad mortgages moved irregu- | larly. New York, Westchester and | Boston 414s moved up 1%, while Bal- | timore an Ohlo convertible 413s, Denver and Rio Grande Consolidate 4s and Frisco Adjustment and Income 6s _each declined a point or more. i Industrial liens were unusually duH,[ with fractional recessions predom- | ‘!nullng. —_———— { SUGAR QUOTATIONS. NEW YORK, September 15.—+With all refiners’ sales offices closed, as usual, on Saturday, there was little interest in raw sugar, and in thel absence of business prices, were un-| changed at 4% for Cubas, cost and | freight, equal to 6.65 for centrifugal. | Trading in raw sugar futures was light and mostly of an evening-up character. Prices were irregular and | closed from 5 points decline to 8' {advance. September, 4.80; Closin, 4.39; March, 3.69; May, 3. $2 DIVIDEND VOTED. INDEPENDENCE, Kan., Seplcmlmr 15.—A dividend of $2 per share declared today by the directors of the Prairie Pipe Line Company, pay- able October 31 to stockholders of rocord September 29. e Gov. Bryan of N-hrlukx announces o he is prepared to M M 1 coal at mine farmers’ organizations in other oflorlnr ot week totaied $241,443,000, of which, new securities this $200,000,000 were United States Treas- certificates of indebtedness. rman Bedford of Standard Oil Com sension among various companies. 8t lard y of New Jersey, denies dis- s 0il Farmers in central west are hurry- ing harvest because of recent cold Wi ther and frost. Yesterday was the final d: ment of third instaliment of Feders come tax without penalty of & per cen! CHICAGO BUTTER PRICES. Certain- Hart Schall & Taose-Wites Bis. nile St CHICAGO, September 15.—Butter— Receipts, 10139 1 At T scaonds. 393 ai0 Recelpts, 9,876 cases; frsts, 34%; ordinary firsts, 26a28. tubs; creamery, firsts, extra firsts, 4dla I -BANK RATE AGAIN RAISED. ERLIN, Septeraber 15-—The Ger- Reichsbank today ‘raised t rate from 30 to 90 n-'x cent GWSING SUGAR PBICES NEW YORK futures closed " irr 00 tons. e 4.39; Mavch, 3 Money to Loan { Secured by frat deed of trust on resl estate Prevaillag tnterest and commise ]0<(~nh T. Weller §8V00E & 35 When Buying Our 7% First Mortgage Notes you get in addition to absolute Safety of Principle. a prompt, courteous service that insures interest being collected mitted the day due. All plac d on h AN one-haif the MALEN 0"4 g0 with notes, large or small :\mrvunh- L P Amounts of $100 up to $5,000 avyallable. CHAS. D. SAGER 924 14th st. n.w. Loan Dept. M. 88 Znd Trust Notes To Yield 14% Forty notes of $300.00 each offered a ¢ in one, 3 ured by an apart Proy 'y appraised apd losn approved. by prominent auctioneer. JOHN H. WRIGHT 1116 Vermont Ave. D Main 3397 ——————— Present Your Property Manage- ment Troubles to Us That's Our Business B.F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 Stores for Rent 13th_ST. NEAR F. Within a few feet of entrance to new fioor and ceilar, 1820 NEW YORK AVE. A-new_two-story front. 24x103; second floor. 14th NEAR .G ST. round floor approximately ancial loca- alterations to it locatio 10 Shannon & Luchs 713 14th §t. Matd 2345, 0 I Will Sell 500 Miller Train Control, bid. 50 Nat. Mort. & Inv. Units at 115. 40 Nat. Mort. & Inv. Units at 115, 300 Nat. Mort. & Inv. Units at 117;. 300 Nat. Mort. & Inv. Units at 1175. 800 Nat. Mort. & Tnv. Units at 11%5. 6 Intl. Finance Corpn. Units at 72} 100 Amer. Com. & Sav. Bank at 10%. | Thomas L. Hume, Broker | 1412 G Street Main 1346 ninsc‘rou» . H. T. BRICE 'NLEY 0% DeC. FAUST . KELLEY, Jr. gun! LEONARD A, WNLEY A, McKEE T R oeliEY W. A. WIMSATT GECRGE W. WHITE FINANCIAL, Audltox, : W-?nted Financlal |nniiu£on. Must beex- perienced accunnt-n!. Reply giving qualifications and reference to ,247 D‘Shr Office 10¢ | .. FLOUR PRICES STEADY. FINVEAPOLIS,; Minn., 15 —Flour. . unchanged; 158584 bagrels. 7 Byan, 002285 { Wheat, Nol 1, nofthern, 1.12%a1.16 | September, 1.10%: December, May, 1.15%. Corn, No. Pays% Most fortunes.are founded on thrift. Thrift is based on the habit of systematic saving. The plans of this Association are especially adapted to the modern and safest methods for systematic saving, and we pay the highest rate of interest consistent with absolute safety. Septemler Shipments, Interest Compounded Twice a Year And, remember, the successful investors do not allow the promise of big speculative profits or exorbitant rates of interest to in- fluence them; they seek absolutely safety for their principal with a rate of interest that can be legitimately earned. One Dollar or More Will Start Your Account Columbia Building Association 716 11th St. N.W. Under Government Supervision FIRST MORTGAGES The Oldest and Highest Paying Investment Consistent With Safety 1. Reliable Security Liberal Income Protection Against Depreciation rompt Payment of Interest epayment of Principal in Full at Maturity 2 3. 4. P 5. R Write, Phone or Call for Descriptive Booklet “S” Denominations $100, $500 and $1,000 WILLIAM S. PHILLIPS R 15th St. at K St. N\W. Phone Main 4600 MONEY. TO 'LOAN OoN DISTRICT OF COLUMBIA AND CHEVY CHASE, MD., RESIDENCES 5% Interest H. L. RUST COMPAN 912 15TH STREET N.W. MAIN 6888 RRESPONDENT FOR THE PRUDENTIAL INSURANCE COMPANY OF AMERICA Open Until 5:30 P.M. Monday, Sept. 17 We Equipped to Serve and Protect T Such a bank as this is eminently well qualified to protect your money and conserve your financial interests. 'The home of Washington OLDEST National Bank itself typifies strength and solidity; our prestige invites con- fidence: our service and policies rep- resent the development of over a cen- tury’s experience. Qur Savings 3% Compound Dept. Pays Interest —invites initial deposits of One Dollar or more—extends to patrons counsel on investments and related matters when- ever it’s desired, Join forces with us, for mutual advantage, THIS PAY DAY. SAFE DEPOSIT BOXES. - National Metropohtan Bank Capmd Surplm' St. Oppouh uU. vided Profits, Over $1,700,000.00 e U, S, 'rmfi.ury—-ms Yun Oid