Evening Star Newspaper, September 18, 1923, Page 29

FINANCIAL,: AUTO FIRMS RUSH NEW CAR OUTRUT Active ~ Winter Assured. Lumber Demand = Gains. Passenger Travel Large. BY J. C. ROYLE. Special Dispatch to The Star. EW YORK, September 18.—Signs are multiplying that indicate that the great basic automobile industry, Which gives employment to, or af- fects, millions of Americans, will en- joy steady active production during the coming winter. There have been sharp increases in the last fortnight in the orders from auto manufactur- ers for finished steel sheets and semi-finished bars and strips. This demand made lts effect felt even before the United States Steel Corporation opened its books for the saurth quarter at the same level of ®rices as had existed for the third period and persisted in spite of un- certainty growing out of the estab- lishment of the eight-hour day in the steel mills. Representatives of steel makers in the automobile cen- ters were taken by surprise by this demand, as a number of lines of au- obiles have recently been reduced pr possible increase in price materlals might well have ged a production an Keeping Up Output, ordinarily begin to buy at-rial at this season to pre- or stocking cars for the gpring 1 some of the recent pur- s have boen for that purpose. Nuvertheless, nearly every company that has brought out new models re- is experiencing a fall demand s of expcctations, and this is indicate increases of pro- 1e of these already are in The running at capacity again output for September fore- | 18,000 cars as against 16,000 iupp Motar Car Company is unning at the rate of 4,500 cars & month, which is t 25 pei r than wa ited for ason. The Hupp company will make ore ears in the first nine months 1923 than it made in the entire ve months of last year. Cadillac_Motor “Company is z about 100 of the new models and is expected shortly to in- crease that to 150 a day, while the ¥ord company, with the change to new - models entirely completed, s continuing at the rate of 40.000 cars week. This rivals the spring rec- ords of the company. Huge Sums Expended on Autos. According to figures compiled by the Cleveland Trust Company, §8,000,- 000,000 hus been expended for auto- in the last four 3 s in this -y, while new building construc- 4 the expenditure that time.. The 0.000.000,000 company off 3 vet whether this ratio of a healthy in Demand for Lumber Incre connection with the building sit- uation, H. C. Berckes, secretary-man- ager of the Southern Pine Associa- tion, announced today a gain of 36 per cent in the available volume of orders received by the mills for the last week. The available orders amounted to 679.796 feet per mill, is about 6 per cent above nor- were the largest book- ‘ebruary 16, Mr. - gradual increase “is_undoubtedly business | omplete before struct Some Steel Lines Falling Off, In spite of the activity in autemo bile production and building cogstrue- tien, however, steel business 1s not pieking up in many lines in the vol- .ume expected earlier in the year. Production during the summer wad ahead of new business and there -has been a decrease in steel production, which still remains, however, at 25 to 30 per cent average of the four post-war years. Labor in the indus- iry apparently is satisfied with ad- justments in wages and hours and there is ah ample supply of unskilled and semi-: Extremely Heavy Passenger Travel. Stress is placed on the business ac- tivity of the country in the report | of President E. F. Carry of the Pull- | an Compan issued today. ' The revival passenger treffic, which, be n early in the fseal year ! ending July 31, the report say: “continued _throughout the twelve | months, with the result that gross revenue from cars operated amounted 06,665.47. These results re- impetus given to travel by | zreat commercial activity and by | country-wide prosperity.” ! 77 passengers | gresate of 12,600, President Carry said s a deficit in the rail. quipment_of the eountry and company had orders on its oks which would keep it busy for time TRADE COMMISSION RAPS CREAMERY FIRM | Finds Chicago Company Uses Tags| Having Tendency to Kill Competition. | The Fed day issued a Blue V Chjcago, charging attaching to farmers’ metal tag bearing the words, full ship to Blue Valley Creamer: Company.” T i sion complained, cannot be readily detached or obliterated and have a ndency to prevent the farmer from shipping his dairy preducts to the creamery company's competitors. COOL WEATHER STARTS . FALL GARMENT SALES Soft Coal Prices Are Down to Old | Levels in Area Around * Pittsburgh. Special Dispatch to The Star. PITTSBURGH, September 18—The vave of cool weather in this section fas scnt people scurrying on shopping xpeditions for fall garments and has produced an immediate improvement in the gale of this apparel, The settlement of the anthraoite controversy and announcement that {he men will be back.at work Wed- nesday has had ‘its reflection in the bituminous ‘coal market. Producers Lad raised production in hope of dumping. tonnages into territory which formerly depended on anthra- ite and priceg- are down to the levels of three weecks ago. There has been a slowing down of ndow glass demand, but the sale of plate glass to furniture and auto- sbile manufaciurers continues onan immense scale. complaint against the containers a . Buick Motor Com- | ¢ they can- | killed workers | 81,000 3 | Ameilcan Tel. & 1 Trade Commission lOv[ y Creamery Company of | the eompany \Vlthj vhen | These tags, the commis- | Received by Private Wire BY WILLIAM F. HEFFERAN. NEW YORK, ptember 18.—Con- tinued weakness In the ofl shires #nd renewed pressure against several of the motors were the important incls dents in today's trading on the curb market. The statement attributed to the president of the Pan-American Petroleum Company that in his opin- ion the peak of California flush pro- duction had not yet been passed, prob- )uhly had a good deal to do with the unwillingness of the speculative ele- ment to come inte the market for this class of stocks at the low levels to- day = However, the decline was less pro- nounced in the afternoon, and toward the end of the first half session the NEW YOR! lowing is an offic! stocks de: Market tod Sales in thousands, 8 Alim 79 19: 3 Alum Ts new '83, 23 Am' Cot OI 6. 1 Am Rolli 8 T September 15.—Fol- 1 list of bonds and l.lll on the New York Curb BONDS. . Close, foay gh 1004 102 101 b 06 ‘E’ 106! 96 | A 360 Sim Hdw 6! @ Belgo Can Fap fo 16 Beth Stoel Ty '35.... 1 Cent Steel 8s. 1 3 Charcoal Co Am 8 16 Con Gas Balt 5148 B Z Cons Gas Balto 7. T Cous Textiles 8s 1 Deere & Co Tis, 1 Detroit Cliy Gas 3 Detroit Edison 6s. ! 9 Dualop T & R Ts. {10 Federal Sugar 6x 33, 172 Fisher Body 6s '26.. | 7 Galena Sig Oil 7., 1 Geo Asnhalt 8 .... 1 Grand Trark 635 .. 1 Gulf Oil of Pa Bbs. 3 Hockin 4 Hood b 1013 03 075 aibo Oil Ts 1 Morris & Co Tl .. 6 Nat Leather 8s. 8 New Or Pub Serv bs. 30 Ohio Power s B. 1 Phila_Elec Sig. b Serv of N 3 18 1 8an O Th..0. . 0000 6 Tnited 01] Prod 83’ 7 Swiss Govt blos 10 Swiss Govt &s ... Sales STANDARD OIL ISSUES. in_unite. 200 Atjantic Lobos 80 Buckeye I’ L . Bureka P L . Tlinois Pipe Li 100 Imp QI of Ca 60 Ind P 1. 6100 Tnter P 10 Magnolia Y Traosit . N Y Transit Northern P Li..... I Prairie 0l & Peon Mex Fuel irie P L . olar Refin ... South Penn Oil § 0 Indiana . Southiern P L § O Kansas ne 8 88 § 0 onlo . 50 8 W Penn P L ..., 1200 Vacuum OM mew .. 10 Washington Oil Kentucky N Y pew Carib Synd . Ctles Sery 1,000 Cit Serv ser) 39 Creole Synd 1 Derby O & Kef 80 Engineers Fet . n Rock Oil.. ulf Oil of Pa. 15 Mex Panuco 84 Mutua) 0f 2 Qmar Ol & Washington Stock Exchange. SALES pington Rwy. & Elec. 65—$1,000 at 99 (L t { it t—1 at 48%, O at 48% | Tiggs Natious Ban Tjgnis—3 ot 99, 3 3¢ [oaty "0t 830, 3 at B4, 10 at 04, 1 at B, Lanston Monotype—3 at ™. Mery »l\lIm|ern|u‘h:kn!lype—fl(_fl lol ‘]lflo“ Vachington Market Co.— " Washington Mirket Co. 210 asbiington Gas s 10533100 at 1004, §300 1,000 at 72, X 72, bor cent. BONDS. Bid and Asked Prices. TIES, PUBLIC UTILY x"!ld. ) it 118 86 o %, ton Gas Ligh LN sked. A 0% 17 88 »8 97 | American Tel. & Tel | Amrre? E%el. el {Am Tol. & el oo Anacostia & Potom: | Apacostia_& Potomac Guar. Bs. {c)& . Telephone b ¢ & P Telephone of Va. 5 | Gapital Traction . . U v & Hubugban de.....cioe orecinwn Qb 14t B etropolitan K. R. u Potomar: Potomae Elee, del Pot. Elec. 64 1 | Po e l'ow‘ %, v Alex. & M0 ver. etfi. W alto, & Annapolls 5s. . Washington Gas 5. Washington Gas 6. Washington Bwy, & Eiee. Wash. Rwy. & Elec. §. m. | MISCELLANEOTS. Paper Mfg. 6s. Riggs Realty bs (long | Riggs Realty 5 {shot). | Sec. Btorage g Safe Dep. Wash. . Cold_Storage | Wards Park Hotel STOCKS. PUBLIC UTILITY. | American_Tel. & Telg ap'tal Traction ashington_Gas.. orfolk & Wash. | Wash. Rwy. Wash. B Terminal | apital { Columbia Commercial i Dists Farmers. Federal-Americyn | Liverty Lineoln National Rigze . Higne Nati. B $etropolitan. co National TRUST COMPANY, n Security & Trust. & Tnion ‘Washingten EE B H LH MISCELLANEOUS. MINNEAPOLIS cial)—Minnesota farmers will save | . $730,000 annually and will receive re- | funds approximately $1.000,000 on in- come taxes already paid as a result of .2 Treasury Department ruling ex- «inpting co-operutive associations. Colymbia Graphophoue eom.. 0'd Duteh Market com. 0ld Dutch Market pfd. JLanston Monotype. Becurity Stor - i buying | Seltening in Landon prices i3 tuken as THE EVENING STAR, Direct te The Stsr. Office market became quiet. A new low record for- the year was established in Prairfe Oil and Gas when it sold down to 156, where it was off 20 points from the high last week. Southern Pipe Line, Indiana Pipe Line and Standard of Indiana were others which came in for a good deal of selling. Durant of Indiana and Stutz Motor broke sharply to new lows. for the year, and Durant of Delaware did lit- tle. 'The drop in these stocks fol- lowed reports of price reductiony by a prominent automobile company, but was attributed mainly to the work of professional operator, Tobacco stocks failed to respond to the statement of the former chair- man of the British-American Tobacoo Company in which he stated that he was extremely optimistic for the to baceo outlook. He demied any knowl edge that any merger was being con- sidered. anad 0 & R a1 1670 15 1 7 Roval HE vy Ventura Cons Wilcox Oil & Gas. . INDUSTRIALS, Am Cot Fabric* ptd 101 5 Ar & Co of Del pfd Atiantle Frait w 1. Brit-Am_Tob Cou ipple B tr veland Auto..... Duant Mot Dyrant Mot o Du Pont Motors. Gillette Saf Rer. Glon Alden Coal Goodyear Tire. Tiudson Co pfd Libby McN & L new Midvale Co....... Nat Sup of Del 2 Park Tilford . Philipshorns Inc Radlo Corp . 2 Read_Coal 3 Reo Motors tandard Motor ... tud Wullf Rub Co atz Motor ... nited Prof Sh new 3tn TS Lt & Heat pid Wayne Coal : MINING Brit-Colo. . .90 be Cop .10 i 3 Alaska 10 Boston i Goldfield Jackpa ld Rd An Mines. id Btate . 4 pendence Lead Dey 40 Nationa! iy 3 New Dominion 19 811 q 10 8il Mines of Ame 10 811 King Div Minkk ' 10 Stand Silver Lead. . 90 Spearhead Gold ... . laud dev min . 5 Cant gew Wi ity Gold Wenden Copper ® West End Cons 20 Yukon Gold . $75,000,000 GAIN IN WEALTH IN SOUTH Yesterday's Shipments of Cotton From Texas Alone Were Val- ued at $26,000,000. | Cotton prices were lifted yesterday {from 150 to 152 pointe, equivalent to {about $7.50 per bale. On the last government estimate of the crop this j represents an ‘addition of approxi- { mately $75,600,000 to the wealtth of I'the south. | As noted in yesterday's Star the {advance - followed reports of heavy rainfall in Texas and Oklahoma, | where cotton iz open in the fields, | threatening both grade and move- iment and reviving fears that crop estimates, already perilously low, may have to be still further re- { duced. A feature of the day was the ex- port shipment of fully 177. ) from two Texas ports to Kurope, or fone of the heaviest single day's ex- | ports on record. On the basis of yes- i terday's prices this shipment repre- | sents @ value of over $26,000.000. Mills both in thig country and Europe | were large buyers of cotton pn the advance, {earing a shortage later on. WOOL TRADING NORMAL. Have Apparently Filled ‘Wants for Present Time. Buyers September 18.—Trading in back to normal after last week's heavy of delaines and supers. evidence that buyers have filled thelr wants. - News of the opening of the Australian_auctions Monday has not been received, hut dealers { whether the sales will have any im- alian crop is reported’ too poer in quality to meet with American de- mands. Receipts here Mondey were 828 bags of domestie wool. e ———— FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) September 18, 1923—10:32 a.m, Nominal ~Selling checks gold value, today. 4.86865 4.53% 1.00 97, | Rrussels, _fran | Berlin, 'mark, 1 Rome, lira... Budapest, crow j Prague, crown ‘Warsaw, mark. Copenhagen,” cro Christianja,’ crown }!loflhnlm. crown... By the Asweciated Pres NEW YORK, September 18.—For- eign exchanges irregular. (Quota- tions in U. 8. dollars.) Great Britain, demand, 4.53% cables, 4.53%; sixty- day bi'la on banks, 4.51%. France, demand, .0577% : ‘eables, .0577%. Italy, | demand,, .0440%; cables, .0411. Bel- gium, demiand, .0481%(; eables, .0481%. Germany, demand. .0000000045; ca. bles, .0000000045. Holland, demand, .3927; cables, .3932. Norway, demand, :1602. Sweden, demand, .2661, Den- mark, demand, .1812. Switzeriand, demana, A763. | Spain, demand, 1315 reege, deman ! h and, de- , mand, -000003%. i B LI mand, .0300. Jugoslavia, demand, 0108." Austria, demand, .000014. Ru- mania, demand, 0046 Argenitne R S 000 bales | the Boston woel market has slipped | doubt | e bearing on prices, as the Aus. | r: UNDERS TELLS OF STOCK SALES Offered Piggly Wiggly Shares as Personal Holding So “Not to Alarm Stockholders.” By the Associated Pres: MEMPHIS, Tenn., Sgptember 18.— Resumption of the hearing of Clar- ence Saunders’ petition for a recelver for the Plggly Wiggly Corporation today before C. L. Marsilliott, spe- eial federal master In chancery, found the Piggly Wiggly founder and former exaocutive on the stand again as his examination was continued. Counsel for the corporation again questioned Mr., Saunders relative to the transactions in stock of Piggly Wiggly Stores, Inc., fluctuation of which caused a sgnsation in the New York Stock Exchange last spring. Investigation by two bookkeepers— one named by the corporation, the ather representing Mr. Saunders— into the manner of the alleged dis- bursement of $2,000,000 of the cor- poration’s funds within the time of the dealing in the stock was expected to get under way at once. This means of obtaining testimony on the ordered by Marsilljott lowing a sharp exchange questions between Mr. Saunders A counsel for the corporation. . Saunders, who retired recently | as president both of the corporation and of Plggly Wiggly Stores, Inc, after continued disagreement with members of a financial “pool” which supported his operations in Wall street, was the only witness to testif; yesterday in the all-day hearing. ¥ asserted that in disposing of the stoc through a selling campaign he had acted as the agent and in the interest of the corporation. Cross-examina- tion developed the testimony that he had oftered the stock for sale under the representation that it was by him as an individual and in his personal behalf. those on the “inside” close to Mr. Baunders knew the exact status lof the corporation’s affai His rep- |resentation that he was offering the -k from his personal holdings, he id, was in order “not to alarm the stockholders.” This action, he testi- fled, was known to and approved by 362 NEW ENGINES PUT INTO SERVICE 19,167 More Freight Cars Also Turned Over to Railroads in August. New ecauipment placed v railroads of thg United Stat August includea Mi67 freignt and 362 locomotives, it was a: ed today by the American Raiiwa: Asgoclation. The roads had placed orders September 1 for 72,906 freight cars and 1,517 locomotives, with de- liveries being made daily. New loco- motives installed during the first eight months of this year totaled 2,683. 78,000 CHILDREN SAVE in ! School Youngsters Average $10.60 Each Per Year in Splendid Thrift Drive. Specisl Dispatch to The Star. PITTSBURGH, September 18.—Sev- enty-eight thousand Pittsburgh school children have savings accounts, it is announced by Samuel L. Smith, head of the school savings work in this Qdistrict. Approximately 90 per cent of school children have savings ac- counts, and the average for the year jended last Junec was $10.60. "hel jschocl savings plan has haen in over- ation here for i years. | LUMBER PRICES REDUCED | IN CLEVELAND AREA Cut From 50 Cents to $10 Per Thousand Feet Expected to Stimulate Building. Specia! Dispateh to The Star, CLEVELAND, Ohio, September 18. ~The cut in lumber prices from 50 cents to $10 a thousand fect is ex- pected to stimulate building opefa- tions this fall. ~White pine was cut | 50 cents a_thousand. No. 1 oak floor- ing and better grads vellow pinc flooring were cut $10 a thousand, while maple flooring was advs 3 to $7 a thousand. MILWAUKEE, September 15.—The | rice of pine logs has advanced so | g!zh that settlors around the Chi i |pewa river near Bouderay. Wis., ha {begun salvaging logs which have {lain in the river for Aty vears. Long immersion has not injured them. STRIKES CAUSING SHOE FACTORIES TO MOVE Three lNew England Plants Go to Other Cities Because of Labor Troubles. Spegial Dispateh to The Star. BOSTON. September 18.—Numerou strikes and repeated interruptions to! production in the shoe trade have ac- | counted for the moving of a number | 1of New Bngland shoe -factories to | ties not so well known as shoe | {centers. The A.° W. Herrick Shoe {Company of Haverhill, Mass, will! transfer its plants to Dover, N. H The George Webber shoe interest have transferred machinery from | Haverhill to Athol, Mass. while the | Ground Gripper Shoe Company will | remove from Lynn to Roxbury. ———— | { HUDSON CUTS PRICES. | Motor Stock Helds Firm Regard- less of Reduction. 1 Dispatch to The Star. [} {EW YORK, September 18.—Hud- son Motors stock was little affected Iby the anmouncement that ths co pany had reduced prices of its cars from $75 to $100. The stock at it low prices of the day—below 25—was selling_to yleld more than 12 per cent, The report for the second quar- ter, published today, showed net in- come of $2,934.868 after charges, taxes and depreciation. This is equivalent to $2.44 a share on the outstanding stock. 3 BIG DEMAND FOR LABOR. SEATTLE, Sebtember 13 (Special) —There hos been unprecedented de. mand for workers during the last | two weeks, according to J. H. Shieds, superintendent of the city employ- | ment office. He was asked to provide i 2,401 male workers and 478 Workers. The demund from logging camps and other industries of'a: i { 1 1 i { i { | | i ‘woman | i COMMODITY NEWS * WIRED STAR FROM ENTIRE COUNTRY HOUSTON, September 18.—Reports just made public of the late- cotton shipments from this port indicate that the total from August 1 up to Monday was more than 140,000 bales, & new high record for the period. CHICAGO, September 18.—There. Wwas improvement in the demand for lowor grade calf leathers for men's shoes and a good volume of business has been booked by the tanners in the last week on a basis of 20 to 25 cents a foot for low-grade calf and :br,-:o and 85 cents for the top three ATLANTA, September 18.—The Georgia lima bean growers are reap- ing a rich return by beating Call- fornla growers to the market by two or three weeks. They are getting 10 to 11 cents a pound. while much of the weetern crop has been con- tracted for at 8% cents. DENVER, September 18.—The ad- vance last week in the price of beet sugar 15 conts a hundred pounds is gxbocted to be followed by unother ‘obably amounting 2 i iy & to 25 cents SEATTLE, Sebtember 18.—Oat farm- ers in the western part of this state are harvesting the heaviest oat crop in recent years. The flclds are yield. ing as high as 150 busheis to the acre, with the grain running forty- six pounds to the bushel. Millers are bidding $23 a ton, at which prices growers say they cannot sell at a profit. NEW ORLEANS, Jobbers of candy renort a heavy vol. ume of orders for future delivery, This is not attributed to buying. A good many Christmas or- ders have already been booked. No ptember 18, — advances in prices are expected this| season. PORTLAND, O All tomato products continue to show an advancing priee tendency follow- ing the advance of 10 cents a dozen in" solld-pack tomatoes. PHILADELPHIA, Soptember 18.— One thousand tons of low-phosphorus fron suitable for steel making has ‘mev'lxbnu‘m for delivery here at $30 o $32. $28 per ton at furnaces and copper- bearing iren sells for $29.20 to §30.64 delivered here. September JACKSONVILL] 18.—Private reports Florida growers will raise a record crop- of citrus frult this season. irapefruit and oranges are further advanced and trees more heavily fruited thau usual. OTHER FIRMS REDUCE PRICE OF GASOLINE Commodity and Security Markets Miss New York Papers. Other Briefs. Fla, September indicate that i By the Assoclated Press. NEW YORK, September 18.—Cuts of 1 cent a gall of gasoline : announctd today by the Standard Oil Company of New York and the Texas Company in New York and New England, bringing their prices in line with the Gulf Refining Company #nd Standard of New Jersey, which re- duced prices 1 cent vesterday. The new price ave cents a gallon, Members of rious security modity excha ed their early tra o] § today by faiiure of to publi: preseme ) this morning because of the strike. The tickers, how- ever, carried & summary of important overnight news developments. Bids have been aaked for an lssue of $2,000.000 New England Fower Company first mortgage sinking fund gold bonds, carrving 5 per cent coupon and d July 3, 1951 i = —_— WILL ADJUST FAILURES. Cuban Bank Commissioner Way to New York. HAVANA! September 18.—Clarence Marine, a member of the temporary bank liquidation commission appoint- ed by the Cuban government to set- tle the affairs of banks that failed after the 1 deflation period, has sailed for N rk in an effort to make final arrangementy with New York creditors for winding up the affairs of all but two of the institu- on Over a Quarter B. F. SAUL CO. 1412 Bye St. oW, 2nd Trust Notes To Yield 14% y notes of $500.00 each offersd for sale at a diseount to yield the investor 14% per apnum notes are due In one, two and’ three yoars. Secured by an apartment house. ‘Prop. erty aporalsed and lean approved by prominent auétioneer. JOHN H. WRIGHT 1116 Vermont Ave. NNW. Main' 3397 Money to Loan ANY AMOUNT Reasonable Charges om Trade Acceptances, Warehonse Recelpts, pot cturers’ Lecounts, Short-Term First 4 Secomd Mortgages or Approved Col- Interal. American Finance Corporation Commercial National Bank Bldg. 56th Oldest Savings _Year Cor. 15th egular fall | ||l First Mortgage Note 18— ! Copper-free iron commands the tank wagon price | -|PULLMAN COMPANY HAS HUGE PROFTS Pays $11,000,000 in Dividends and . Reports Net Surplus of $2,417,083 for Year. By the Assoelated Press. NEW YORK, September 18.—After paying dividends of mearly $11.000,- 000 the Pullman Company returned net surplus of $2,417,083 for the year ending July 31, 1923, as compared with surplus the previous year of $1,171,294, the company's annual re- port made public today disclosed. Gross revenue from cars amounted to $76,906,665 and net operating in- come totaled $7,919,891, returns from manufacturing and interest increas- ing the total net income to $13,887,- 569. Total cash government securities beld by the company amount to $41,- 178,302, President E. ¥. Carry stated lin a letter to stockholders. The Pull- jman Company had a total of 7,665 cars at the close of its fiscal year, 119 pew cars having been added dur- ing the year. In addition 211 cars we.;e under construction, Mr. Carry sald. “When” You Buy a Properly Placed 7% Have yon thought what advantage you have over other marketed securities? Can you invest other than In mortguge Where you are absolutely secured st loss of prineipal or inferest e your income on the date due? No- in the investment fleld has such a safe and satisfuctory record been made. ‘We, like many otkers deal First Mortgages, hoast of the en- viable record of mever a loss of single penny in either principal or interest. Notes now on hand in_smovsts of $100 Up to $5,000 Full_particulars apply Mr. 0'Dennell, Loan Dept., M. 36. CHAS. D. SAGER l 924 14th §t. N, i Money to Loan Secured by first deed of trust en real estate ling foterest aBd commissio: Joseph 1. Weller S0 & § 3 EQUITABLE Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Assets ..... 84,750,762 Surplus ....... 81,207,281 The Time to Save Is Now About our systematic saving plan— 1H] » pan that hes proven wondertunny \J{ successtur. 1t wil siiow you how to save with the bast results. Subscription for the ! 85th Issue of Stock Belng Recelved Shares, $2.50 Per Month e miorted 1 o W2 sy ||| EQUITABLE BUILDING | 915 F St. N.W. JOHN JOY EDSON. President FRANK P. REESIDE. Seey, A Good Place to Have Your Rental Property ! Cared For K | Experience and ! Efficient Service RENTS B. F. SAUL CO. Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 4Y2% Bonds Principal payable Maturities 193337... s 193842.., 4.45% 194347... 4.40% Circular on request The National City Company ‘Washington 741 15th St. N.W. Telephone—Main 3176 and interest in New York. Tield 4.50% _C_;Iflal & Surglus, g%«mm Of Our 42,000 Customers —there are many who transact all their business with us BY MAIL. Post- ing deposits in the most convenient mail box saves a trip in the downtowm crowds—and return’ mail brings acknowledgment of its receipt. It’s all very sim- ple, time-economizing, sat- isfactory. Deposits’ welcome in an; oS AME RATE of tnteres paid on large end smali accounts. ional Savings & Trust Co. Depository in Washington and New York Ave. FINANCIAL. FARMERS SELL PRODUCTS; BOOST BANK DEPOSITS Special Dispatch to The Star. ST. PAUL, September 18.—North- west trade has recovered trom its lull with the arrival of colder weath- er. Conditions in the rural districts are better than was thought possible a few weeks ago and a good run of fall business is predicted. Bankers declare thqt both savings and check- ing accounts have increased as a result of the marketing of farm products and many merchants are discounting their bills, Shipments of clothing, dry goods, men's furnishings and shoes gained 10 to 20 per cent in the last week. FIRST MORTGAGES The Oldest and Highest Paying Investment Consistent With Safety 1. Reliable Security 2. Liberal Income 3. Protection Against Depreciation 4. Prompt Payment of Interest 5. Repayment of Principal in Full at Maturity For Rent—Offices Physicians Surgeons Dentists Medical Selence Building (1029 Vermont Avenue N.W.) 1624 Eye Street N.W. (Old Army and Navy Club) 1616 Eye Street N.W. J. EDWARD THOMAS 419 Southern Building Tel. Fr. 7542 Write, Phone or Call for Descriptive Booklet “S" Denominations $100, $500 and $1,009 WILLIAM S. PHILLIPS Realtors 15th St. at K St. N.W. Phone Main 4600 | MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF Rendall F Hagnee & Ca 2207 Connecticat Boenve SAFEGUARDED FIRST MORTGAGES SECURED ON IMPROVED WASHINGTON REAL ESTATE Paying 6 % % Interest Notes in Denominations of $100, $500 and $1,000 Consult Our Imvestment Department Regarding Our Partial Payment Plan # PARTICULARS UPON REQUEST ARNOLD and COMPANY Tncorporated Capital, $1,000,000 1416 Eye St. N.W. Main 2434 There was a time—not so many years ago— when coupon clipping, with its attendant benefits, was indulged in only by persons of considerable means. There was little opportunity for he small investor to place his funds where they would be both safe and profitable. . Through our Investment Savings Plan, how- ever, opportunity for fmvestment in our Safe- guarded First Mortgage Bonds is extended to every one who is able to save at least TEN DOLLARS A MONTH. Some of these bonds yield as high as'7.13%. All of them are prutect- ed by the definite system of safeguards which has mada possible our record of 50 YEARS WITH- OUT LOSS TO AN INVESTOR. 8 Why not start.on the road to coupen clipping TODAY? - The Guide Posts are all marked in our Booklet SN-18. = Ask us for a copy. T¥e F.H.SMITH CO. Founded 1873 FIRST MORTGAGE INVESTMENTS SMITH 2uILDING 815 FIFTEENTH ST. Phone Main 8464 59 YEARS WHHOUT LOSS TO ANY INVESTOR