Evening Star Newspaper, September 24, 1923, Page 19

B MONTREAL CETTING FINANCIAL BUFFALO'S GRAIN Freight Rates Cause Change| in Shipments—Night Shifts | Successful on Farms. BY J. C. ROYLE. Tpecial Dispatch to The Star. H EW YORK, September 24.—Grain | is moving in increasing volume from | the head of the lakes to Montreal, ! while the shipments for tidewater, through Buffalo, have fallen oft as| compared with other years. Grain shippers of the northwest declared | today the answer was to be found, lo] a large extent, in the freight rates. H Wheat' is being carried from Port| Williams and Port Arthur to Montreal | for 83 to 10 cents a bushel, whereas | it, costs 13.6 cents to send a bushel | of wheat from those ports to New York by water and rail for export. For domestic consumption the rate is | almost 3 cents higher, the rail tariff from Buffalo to New York for such shipments belng 20.67 cents per 100 pounds. Rates on barley, oats, corn, rye and flax seed show approxi- mately similar ratios. The St. Lawrence river was stripped of its fleets during the war, and up to this year the tolls from the head of the lakes to Montreal averaged be- tween 12 and 13 cents a bushel. These Te fixed by the vessel rate from fort Willlams and Port Arthur to Georgian bay, plus the rail rate from bay ports. So many small boats have been put in commission along the St. Lawrence, however, .that a regular charter rate now is published. The present small canals along the St. Lawrence are being extensively | used and the Great Lakes-St. Law- rence Tidewater Association, with headguarters in Duluth, is pressing for immediate further extension of the St. Lawrence canal system. Mem- bérs of the association say that with the completion of the new Welland canal lake carriers will be able to make their way into the St. Lawrence and that a still larger tonnage of &rain will be carried. Considerable opposition "Is being expressed against the St. Lawrence ship canal project in this state. This is based on the ground that New York state would be required to pay 28 per | cent of the cost of the work rather than because the canalization of the St. Lawrence would tend to divert traffic from New York waterways and from New York harbor. Fhrmers Put on Night Shifts. Early to bed and early to rise, prac- ticed over hundreds of years, has not scemed to make the farmer wealthy, €0 many of them are trying night shifts instead of early retiring to ! make their equipment more_effective | and their overhead. expense les Andrew Boss, agricultural production expert and head of the farm management department of the Minnesota Agricultural College, said today that while night shifts were not practical at all seasons, for fall plowing and harvest emergencies it was a further step toward eficiency. “Even in the last five years” he added, “modern mechanical inventions have increased the efficiency of farm- ing operations to an exceptional de. Bree. Night farming is practiced widely ~throughc¢ut the northwest. Night plowing decreakes the soil- preparation period by about one-third. It .does not appear practicable on | small farms, but with a blg acreage | it is @ marked step in the Chlnted] order of things.” Frequently reaping and shocking at night is impracticable because of dew, but even this has been done in many eases this season. “It is true that the farfner is be- coming a more intelligent buyer,” Prof. Boss continued, “but too fre- quently he still buvs _equipment which, while practicable, is not need- ed by him. In the case of the tractor, | for example, research indicates that | such a machine must be used from 400 to 500 hours per year to earn nroney on the investment, and many farmers cannot use a tractor that much.” Quality of 1923 Wheat, 1 The quality of the 1923 wheat crop | begen determined by a survey of | cighty-two flour mills in Kansas, | Oklahoma, Texas, Nebraska, Missouri and Colorado. It requires four bush- | ela thirty-six pounds of hard Whea.l’.‘ to produce a barrel of flour, four | bushels twenty-six pounds te four ! bushels thirty and a half pounds of mixed wheat and four bushels twen- ty-five pounds to four bushels forty- two pounds of soft wheat Tha situation of farmers and stock- men _throughout the west is showing steady improvement, according to Frank W. Mondell, former representa- tive from Wyoming and now a mem- bér of the War Finance Corporation, who has just completed a tour through the Intermountain statee. | The situation was best, he said, where | farming was diversified. He added that one of thé “most hopeful signs of the times” was the growth of co- | operative marketing. ] — i FEW BOND OFFERINGS. | Last Week and Last Month Make | Low Records. NEW YORK, | September H tond offerings last week were limited, i the total for the week being $27,201.- 006, a5 compared with 541.44.}.1\01\, ex clusive of the government's Sle.-I 000,000 offering, the previous week The searcity of new issues last wee}t; resulted largely from the pressmen’s | strike causing newspapers to be; printed In abreviated form and with- out any large financial advertise- | ments. H Two large railroad issues, reported | ready, were delayed, the $12,000,000 Union Pacific_and $10,000,000 Great Northern equipment trust certificates. The total of new financing for August_was $168,060.460, the lowest since February, 1923 It compared with $191,300,440 in July. Corpora- tion financing for the first eight months of ~the ycar aggregated $2,458,000.000 against $2,260,000,000 | during the, corresponding period of | 1922, Chief offerings last week were the $10,000,000 thirty-year 5% per cent mortgage bonds of the Pacific Gas and Electric Company and the $6,000, 000 thirty-vear 6 per cent mortgage bonds of the Ohio Power Company. | Both issues were readily subscribed. { PRSI A | BEETLES DESTROYING PINES. ! JACKSONVILLE, Fla., September 24 (Special).—The pine bedtle is dam- | aging long-leaf pine timber so badly | that sovernment experts have been | called_in to confer with officials of | the Georgia-Florida Sawmill Assor | ciation on a remedy. Two million | i { i { feet of timber have been destroyed ! M in-one locality. FLOUR MILLS RUSHED. i KANSAS CITY, September 24 (Spe. i cial),—Flour mills in the southwest ! are -booked heavily, but the orders' are for scattered deliveries and mil-| lers are experiencing difficulty. in ob- | taining _specifications from bakers ' and jobbers for the orders now. on | hand. Heavy production would be desirable now, as there is a keen de- | nand for bran and shorts at prices $10 above the basis on which the feed | leturns were figured when the for-| ward shipment flour. sold. | NEW SHIFTS ARE SUCCESS. YOUNGSTQWN, - Ohfo, September 24 (Special)’—The plan 'proposed by the Youngstown Sheet and. Tybe Company, which provides for a ten-| lour day with six-day shifts and sve night shiffs, is reported to be "yorking satistactorlly. Tie Republic Iren and Steel 18 contemp similar arrangement. - _ le | o itate i l Cotvmbla Graphophone com. Becurity ng o) % 4 Recelved by Private Wire By WHllam F. Hefternan. NEW YORK, September 24.—The new stock of the Gold Dust Corpora- tlon, which is to take the place of the present American Cetton OIl, was brought out on the curb ex- change toddy and Immediately at- tracted considerabls interest. The opening price was 19%. Then it s0ld down to 18%, after which it jumped forward sharply across 21. Mixed price movements character- ized other active Industrials, Coal stocks were strong for a time, but fold off later as the result of real- izing. This was especially true of Glen Alden and Delaware, Lacka: wanna and Western, which were up over a polnt at one time. New _York Telephone preferred, Park and Tilford and tish-American Tobacco issues all came in for at- tention at rising prices. s, NEW YORK, September 24.—Fo! lowing is an official list of bonds and stocks Jdealt in on the New York Curb Market today: Sales in thousands. 6 Allied Packers 8s. 1 Alum 7s 1925, 1 Alum 7s new 28 Am 14m Gas & E BONDS. High. 71 Close. - l““ 08ig to) 102 lofl"’ b i) Y bl 1 Anaconda 6s. 4 Anglo-Am Ol 10 Armour Co_Del. 5 3 Asso Sim_Hard 6lys JALGEWIS 6 Beth Steel Ts ' 1 Nat R Can Natl Rwy os. Cent Steel ¥x 5 Chi Rocl Cit Serv 2 Cuban Tel 7%s . Deere & Co 7is. Detrolt Edison 6 Federal Sugar Fisher Body 6 Fisher Body 6s Fisher Body 6% alena Sig Of 1 Libby McX & 1, 7 Morrie & Co 7 Ohio Power z 3 Penn Pow & Lt 5 5 Phil Pet 7ias wt wis Pub Serv of N J Ts. Reading Coal 5 Solvey et Cle SONY Un Rwy of Hav Vacuum Oil 7 orine O FOREIGN BONDS. Gov Argentina 6s wi 99% King of Nether 6s.. i R 9%, 3U S of Mexico 4s... 35 Salesin STANDARD OIL 1SSUES. nil b 14 7 61 281, Aaglo Am Oil. 100 Buckeye P L. 80 Gal Sig Oll. 400 Humble 0 & R new 8 1l P L. 305 Imp Ofl of Canada 7100 Intl Pet Co Ltd. 265 Maguolia Pet 1100 Penn Mex Fuel 490 Prairie P L. 22000 8 O Ind. 20 Southern 5 200 8 O Kansas 500 8 0 Ky 108 0 2100 8 0 4% ik &* 281 133 4015 Sales INDEPENDENT OIL STOCKS. in hundreds. 1 Cit Serv . 4 Cit Serv- pfu. 1 Cit Serv o $1000 Cit Serv C_pcrip. $1000 Cit Sery scrip 7 Creole 8ynd ....... 1Derby 0 & R w i.. 2 Derby O & R pf wi 10 Engineers Pet .... 24 150 Hudson Ol 2 Intersta 40 Keyston: 25 Lafayette O 6 Marland 80 Mex Ol 7 Mex Pamuco . 10 Mount Prod. 3 Mount Gulf. .. 39 Mutual Ofl vot - 2 N Brad Oil w i.... 1 New Mex Land.. . Washington Stock Exchange HALES. Washington Gas 56—$1.000 at 93. | Washington Gas 6s 19338100 at’ 101, $100 | $100.2¢ 101 | ¥. & Elec. 45—$1,000 at 71, -l i pital Traction Co.—13 at 90%, 6 at 99 Washington Rwy. & Elec. com.—10 at Riges National Bank Rights—3 at 98%, 10 | at 98%, 10 at 93%, 10 at 9834, 10 at 934, 1! at 98%. 7 at 98%. Money—Call loans. 5 and 6 per cent. BONDS, Bid and Asked Prices. PUBLIO DTILITIES, American Tel. & Telj 925 | American Tel. & Telg; il Am. Tel. & Tel. ctl. tr. bs. | Am. Tel. & Tel. conv. i ‘Anscostia & Potoma Avacostia & Potomac & P. Tel. Bs.. pital Traction R. R Gs. City & Suburban 5 Georgetown Gas 1st etropolitan K. R. G Totomae Electric ist Potomac Elec. Cons. & Totom . deb. whetl Fot Blec. I ot Elec. P Waih., Alex. & dit. Ver. G5.... Wash.. Alex. & Mt. Ver. etfs.. . Balt. & Aona E ngton Gas b Asked. | { i { 2% W Wash. Rwy. & Elec. g. m. MISCELLANEOUS. D. C. Paper Mfg. 6s. Riggs Realty 5s (long) Riggs Realty 3s (short). Sec. Stornge & . Wash. Mkt. Cold Storage Bs. Wardmas Park Hotel ts. I i { cmbi: Commercial Distriet ‘armers Federal-American Liberty Lincoln National < 1 National TRUST COMPA. jcan Security & Trust Eontinental Trust ; erchants’ Bak. atiopal Savings and Trus Union” Trust Trust ‘ash. Loan 8! . BAVINGS BANK. Commerce and Savings. East Washington. m&axlg’: : Unif ‘Washington Mechanics. 'FIRE TNSURANCE. Américan . Fire Musurance. 0 812 95 i gEtiet | osBl sBidsE remen’ tional Ui TITLE INSURANCE. Colimbia Be MISCELLANEOUS. Columbia Graphophone pfe % Riertiiants! Frans erc thaler Linotype. aston Monotspe.. ... rief aividesd. {surplus which is holding down the NEW YORK CURE MARKET Direct to The Star Office The new Kresge Depsrtiment Stores preferred and common moved in op- posite directions. After opéning 2 points under last week's final, the former waa disposed to do nothing further, while the common appeared in somewhat better demand at a slight advance. Some of the oil stocks maintained their recent gains. Penn Mex Fuel at 36 was up 2 points. Imperial Oil of Canada at 97 showed improvement. Shortly after midday proft-taking ssies wegs felt In Btnd- rd of Indiana, but the stock hard- ned later. Durant of Delaware was supported after breaking a point to 30. o Indiana stock crossed 8 again but others of this gfoup were negléeted. Crown King Consolidated Min capital shares of §1 par value were dealt In for the first time. They opened at 1% angd: held just above it Fhilipsborn “stock . trust certifi representing the newly author common stock of $1 par value, we aiso admitted, byt attracted little, tention. 20 Penn Reaver OIl. us 6 Pennoek OIl . 4 Royal Canad O 1 Bait Ck Con: 17 Balt Creek new, 2 Seabourd Oi) 47 South States Of] 84 Wileoz Oll & G INDUSTRIALS. 1 Aéme Coal now. 1 Am Writing Pa 2 Armour Co Del pt 8 Atlantic Fruit w i. 1 Rorden - & Co.. 8 Hridgpt Mach w i 8 Brit-Am Tob Cou. 5 Brit-Am Tob Reg. 2 Brit Tat Crp B. 7 Buddy Buds. 1 Car Light. 4 Centrifug. 5 Checker Cab Mfd 1 Cudaby Co 1D L&W C 21 Dubilier C & 9 Durant Mot . 2 Durant Mot of ind.. 1 Gillette 8 R. 13 Glen Alden Coal 61 o 2ERsE. 28, > FTFEE ipe A 1 Lupton, ¥ M. 2 Lueey Mtg. . 1 MeCrory Stor mew 1 Midvale Co 2 Park Tilford. 8 Radlo Corp ... 4 Radio Corp pfd.. 3 Read Coal rts w 1 Repetti Candy . 1 Roamer Motors 1 Stude Wul Rub Co 1 Tobacco Prod Exp. 1 Un Pft Shar new. 3 Uni Retail Cand; 1 Unl Shoe Mach 1U 8 Distribut. 3 Yellow Taxi Co 29 Belcher Extens 2 Canarjo Copper 10 Cons Nev Utal 40 Cortes Silver 8 Cresson Gold . 22 Crown King Ce 10 Emma Silver 10 Eureka Croesus 130 Fortuns Mines 50 Goldfleld developm. 160 Goldfield Deep Min . 27 Goldfield Florence. . . 20 Gold Jackpet 10 Hardshell g 50 Hill Top Nevada.... 5 Homestake Exi 50 Independence 10 Tron Blossom. 20 18 e 10 Nevada Sily Horn 2 Nipissin 13 Ohio Cop 7 Ray Hercul 5 60 Red Hill Florence. 90 Spearhead Gold 10 Butherld Dey Min. 168 Teck Hoghes . 5 Tonopah _ Extension. 3 United Eastern Unity Gold 3 Wenden Copper 10 West Utah INCREASE N GRAN EXPORTS FOR VEEK ! Decline in'Wheat, But Gains; in Corn, Oats and Rye. Flour Shows Drop. Grain exports from the United States last week amounted to 4,602,000 : bushels, compared with 3,933,000 the week previous. " Detailed figures of grain exports given out today at the Commerce De- partment showed the following com- parisons of shipments last week' to those of the previous week: Barley, 205,000 bushels, 3641000. against | jabide by the limitations placed upon {the board for par collection function. % | ed, RATES ON ELECTRICITY REDUCED, IN ST. LOUIS Epecial Dispatch to The Star. ST. LOUIS, September 24 —The La- glede das Light Company, which fur- nishes electric power to 13,164 cui tomers mostly located in the down- town district here, will meet the re- cent rate neduction of the Union Elec- tric Light and Power Company on October 1. "It is estimated this cut will mean a saving to consumers of $40,000 annually. Bankers attribute the increase in the amount of the postal savings de- posits here to the generally healthy employment conditions, especially af- fecting the unskilled workman. Postal deposits now total nearly $1,000,000. ‘The unprecedented activity imroad building this fall has caused a great increase in the output of gand ami cement from plants In this district. e irep ASKS BOARD TOACT *ON CHECK ISSUE Bankers’ Association Official Demands Federal Reserve “TaKe Definite Stand. { %he Federal Reserve Board has been | asked by L. R. Adams, secretary of the National and State Bankers' Pro- | tective Asgoclztion, what it means to do about par clearance of checks. In a letter to the board, made pub- 1i¢ yesterday, Mr. Adams asserted that banking institutions throughoyt | the country deserved to know whether they were at liberty to charge ex- change since the Supreme Court had ruled against-a compulsory par clear- ance arrangement. Mr. Adams is one of the authors of the so-called Claiborne-Adams par clearancé plan, rejected last week by | the advisory council of the Federal Rescrve Board. Urges Definite Stand. “If it is the board's duty to see! that policies properly promulgated under the federal Teserve act are carried out,” the letter said, “is it not equally the board's duty to im- mediately abandon a previous policy that has been declared by -the Su- preme Court to be beyond the pur- view of the law and to see to it that all federal reserve banks and their agencies cease efforts to enforce such a policy? How, when &nd to what extent does the Federal Reserve Board now purpose to recognize and | fat Jac 00TH 15 RUSHIG NEW Contracts for, Past Eight Months Total $380,448,000. _Big Gain Over Last Year. Special Dispatch to The Star. BALTIMORE, September 24.—Rur-! Ang the first eight months of 1923) as | shown by compllations by the Manu- factyrers' Record, contracts for con- ' struction work in the southern states | aggregated $380.448,000, or $113,000,- | 000 more thap for the corresponding peplod of last year, and $183,000,000 | In excess of the amount for the first | elght manths of 1921, % 1 These figures do not include any| operations costing less than $10,000, ! and if the smaller bulldings -were in- | cluded the -actual amount of con-| tracts from Janyary to August in-| sive would probably aggregate at| least $530,000,000. Total Figures Enormous. " During the past eight months. the | preliminary announcements of con- templated construction projects indi- | cate an ultimate expenditure on them of ~$388.000.000. which® practically | equals the total for the whole year | of 1921 and also for'all of 1922. H Many enterprises of unusual impor- | tance have been announced during | the week. The Santa Fe raliroad has | let contract for $5,000.000 terminal bulldings. in Dallas, Tex., which will | include a nineteen-story pfce build- ing and three warehouses, one ten | stories and two eight storles each. | A._$500.000 paper mill will be built | onville, Fla., by the same n- | terests @vhich own a large paper mill | recently put.into operation at Lees- | burg, in the same. state. \ Nineteen New Hotels. l Figures complled by the industrial | bureau of the Tampa toar1 of Trade. | Florida, shows nineteen hotels and | twelve ‘apartment houses under con- structlon in southern Florida at an | estimated cost of $8,725,000. The New England interests which recently invested about $16,000,000 in | the purchase of cotton mills in South | Carolina have now bought another group of mills in the same state, hav- | iDg a total of 225,000 spindles. Thewe mills, it is reported, will be merged with' the four -Pelzer mills lately | b(;lfl':t I:‘); these ‘lnlareulu. = " uisville people are projecting the building of a $5,000,000 bridge scross | the Ohiv river to b= known as the ‘Watterson Memorial bridge, memory of Henry Watterson. Wolfe Summit Coal Company, Clarksburg, W. Va. will increase | | in| its power to establish par clearance, which the Supreme Court says the | law placed upon it? : | Mr. Adams’ letter maintained that | the board ought to inform the banks | “we were mistaken, we misconstrued | the law and mistakenly stated its| requirements to you.” Many banks| { would establish an exchange charge | Homestead, Fla., and Albany, immediately, Mr. Adams nsserted, if | they knew their status under the faw | interpreted by the nighest court nd he submitted this further ques- | tion to the board: ey Ne plaint Agsinst Banks. | “Are you going to tell these state ! banks that the federal reserve ac drd not and does not undertake to| destroy the state bank's right to| charge exchange, but that the state | banks are free to accept or reject | ! the par clearance system and to with- | jdraw ‘from the par list without fea; of open or secret repricals 1 The letter made no complaint | against banks desiring to continue | pabticipating” in ‘the ~ widespread | veluntary organization arranged hf“ It sajd such a system was not favor- however, by many banks. al-| though they did not know what the | board would do if they attempted to withdraw from the par list and ob- | tain such revenue as might be made from levying a fee on check col-! lections. 8 | APPLE MARKET DULL. Peaches Slightly Higher Today in' New York. i Special Dispatch to The Star. NEW YORK, September 24.—wen-1 grn New York peaches, particularly large sized, well colored stock, sold | more readily at slightly higher prices | today, partly due to the comparatively light 'supplies on the markets this morning, Elbertas in bushel baskets ranged from $2.25 to $3. Crawfords | sold mostly at 31.50 and Nagaras at $2. | The apple market was generally | @ull, with receipts of barreled_and basket fruit liberal from New York and other states. The early morning | demand was very limited. except for strictly fancy, well colored softred | varietics, ‘and large sized green ap- | ples. “A" grade 2i-inch Wealthys | sold from $450 to $6; Melntosh, | $6.50 to $7.50. and greenings from | $550 . to $6.35 per double-headed | barrel. H Pears of all varieties were in ex- | ceedingly limited supply today from ! all state sections. The demand was | Corn, 158,000 bushels, against 148.- 000. i Oats, 47,000 bushels, against 23.000. Rye, 1,214,000 bushels, against 177, 000. 1 Wheat, 2,833,000 bushels, against! 3,297,000 i i joFlour, 215400 barrels, against 282~ 00. Canadian grain shipped from United | States ports last week amounted to 64,000 bushels, against 247,000 bushels the week before. I ASK WHEAT FREIGHT RATES BE REDUCED A 20 pér cent cut in freight rates on wheat and flour destined for ex- port markets is asked by Gray Silver, Washington representative of the: American Farm Bureau Federation, in a letfer sent today to the Inter- state Commerce Commission, *The price of American wheat is made by competition in the European market and one of the principal causes for the low prices of grain now received by the western wheat | grower is that nearly 30 per cent of the price received at the primary! markets is turned over to the .car- riers for. freight charges” says Mr. Silver in this communication. “Cutting down these costs would{ enable larger quantities of wheat to | nrove abroad, thereby reducing the | i prices. in_this country. 3 ‘The wheat growers must be given assistance in disposing. ofv?u sur- plus through exportation, in er | that a fair and reasonable. price may ! be received for the grain consumed : in_this country. s } “In_our view the rates on wheat for : export are top high _in ratio .to| other commodities. It is possible that; changes . may take place in the future| that will alter these ratios, and we.| therefore, do not. ask .the reduction to be fixed for more than the present| crop year.” 2 S el STEEL OPERATIONS SLOW UP. | YOUNGSTOWN, ~ September 24.— Steel mill operations show further de- cline this week. The Falcon Steel Company will be entirely .J A . Mahoning Valley Steel Company will reduce . g!‘:el mills ;\: ”;uo 3‘!‘”‘ Com W) Trambatl dle. The ‘operations and two merc! o & have one slabbing mill & ¢ nactive. ‘: 2 1light, with the market generally lack- | ing in activity. i FISHER'S PRICE INDEX. NEW HAVEN, Conn., September 24 | (Special).—Last week's prices aver- aged 156 per cent of pre-war level. The purchasing power of the dollar ; was 64 1-10 pre-war cents, accerd. ing to Irving Fisher, Yale economist. : | i COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PHILADELFHIA September 24— The. Baldwin Locomotive Company- has about $35.000,000 worth of orders ! on its books. Much new machinery is ' being installed to expedite the filling - of these orders. { _PORTLAND, %4.—Port- land candy manufacturers have de- . cided to cut prices materially in order to defeat competition from eastern | makers for the holiday trade. ST. LOUIS, September 24.—Corn cut- ting in this section has been greatly | hampered by raing The crop is espe- | clally ‘heavy in the Missourl and| Mississippi -valley and farmers are! paying cutters 50 cents a shoc ; i AKRON, Ohio, September 24.—The | large rubber companies here are mak- | ing good headway in reducing tire in- | ventories. Shipments in recent weeks have exceeded production by 50 to 100 ; per cent. i g i SEATTLE, September 24. — The | Western Dry s Company has re- ceived word from its Japanese repre- | sentatives that shipments of silk goods and cotton crepes would be resumed immedjately. * HOUSTON, September 24.—Whol b dry goods dealers and :eml:‘ IaPes kuods bas sent'a oo of dry t s 3:;;;“ arders in from outside districts. KANSAS CITY, - September - 24.— Prospects for a good apple crop in southwestern Missouri have been im- proved by rains. The {rult was verely hurt by the early drought. Gopd prices are expected by grower: WALLA WALLA, - Wash.,. Septem- ‘ber 24—Eastern Washington points ginning to ol the first of ¢ i i ! i September | vessels of Baltimore's coffee capital stock from $750.000 to. §1,- | 500,000. » { Richmond May Expend $1,500,000. The city of Richmond, Va. is con- sidering ~ election. on $1,500,000 of bonds to extend gas and waler sys- | em 3 Redlands Grove-Homes Company of | 1 | | recently incorporated with a capital of $350,000 and will develop tract of 160 acres of land near Homestead for home sites. Rhodolite Company of v has leased abrasives mines of the | Carolina Abrasives Compan A, Jones, president, N. C.; properties in Jackson anl Clay counties. N. C. claimed to contain 600,000,000 tons of natural a desopits. Crnning Plant to Cost $500,000. [ Florida Fruit Products, Inc., Stuart, | Fla. which was lately noted incor- ! porated with a capital stock of $500.- i 000, will build plant to manufacture, | clarify and refine can: sirup, mak Jellies, ete. Unusual activity is reported in mu. nicipal and county and state work. especially in building of highway Among the itemy of this kind report ed_for the week are the following City of Chattanooga, Tenn., will re ceive bids until September 25 to lay ! brasives | | concrete pavements on a number of streets | Tayler county, Texas, will vote Oc. tober 16 on $350,000 bonds to hard- surface two highways acivss the county. | Palo Pinto county, Teuas, will build two roads of twenty miles to cost about $500.000. | West Virzinia's Plans. The state of West irginia will ceive bids until September 23 for $5 000,000 road honds. The Alabam state highway commission let con- ! tracts for fif:y-one miles of road to| cost more than $536,000. The Mi souri state highway commiesion let contract for more than fourteen ! miles of road to cost $696.193. The | Missouri state board of fund com- | missioners will receive bids until November 1 for $5.000,000 road bonds, | Hines county, Jackson. Miss., will) vote October 1 on $260,000 road and ' bridge bonds. Rogers county, Okl re homa, voted $650.000 bonds for roads, Pinellas county, Florida. will receive bids until October 16 to build eight roads which. will require 550.000 square yards of construction: also plans to relay 200.000 square yards of ;{;rlfled brick surface with bituminous er. HEAVY COFFEE RECEIPTS. BALTIMORE. September 24.—Im- ported coffee into Baltimore is rapidly approaching the fuil yearly mark of 1922. The twelve months of last vear | produced coffee imports here of about | 133,000 bags. and already In 1923 we' have 118,439 bags. Two other trans- port lines are going, or already have gone, on Brazilian berth. one of them to take about 24,000 bags. When these ships arrive in a few weeks last vear's fizure will be surpassed. First Mortgage Loans Lowest Rates_of Isterest sod Commission. Prompt Action Thomas J. Fisher & Company, Inc. 138 _15th Money to 'Loan ANY AMOUNT Reasonable Charges on Second or Appreved. Col- ortgages American Finance Corporation Commerelal National Bank Blds. CONSTRUETON { reasonable “On Improved D. C. Property at Prevalling Rates of Interest. < See Mr. Field. | Hedges & Middleton, Inc. REALTORS. . 1334 H St N.W." Franklin 9503 Daily at 10 o'clock h:om Ra- dio Corwration of America. Station WRC, the latest quo- tations will be broadcasted. Rates by private ‘wire from New York. Sp“iilhfhoz‘gl Foreign Department, M. 8222. The Washington Lodn and Trust Company 900 F Street ¥ 620 17th Streit * EQUITABLE Co-Operative Building Association Save While You Have the Opportunity Progress in a financial way depends on the method you adept in handHus money. Most successful resul have been obtained by adopting our saviag pias, ) Sabscription for the 85th Issue of Stock Being Recefved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. Presideat FRANK P. REESIDE, Seey. York | WILL BUY First ‘and Second Trusts . at rates of discount. Submit all particulars by letter. Address Box 19-K. Star office. First Mortgage Note Hare t advantage you safe and satisfactory record beem made. We, like many others dealing in First Mortgages, boast of the en- viable record of never a loss of a single penny in either ‘prineinal or $100.Up to $5,000 Full_particulars apply Mr. O'Donmell. “CHAS.'D. SAGER 924 14th St Money to Loan Secured by first deed of trist oo real astats. Prevailing interest 834 comm: osion. Joseph 1. Weller $8,7%% ¥ F " Buy $250 First Trust Notes Address Box 80-H Star Office 25 Dean, Ofativia & G BONDS . COTTON ~ GRAINS COFFEE SUGAR MEMBERS New York Stotk Exchange Chicago Stock Exchange New York Curb Market Association N. Y. Cotton Exchange "Chicago Board of Trade N. Y. Produce Exchange Minneapolis Chamber of Commerce WASHINGTON OFFICE Main Floor, Woodward,Building . JOHN CALLAN ‘O’LAUGHLIN Mamager - i 1 | ARNOID AND COMPANY WOORPOUATED . Capital $1,000,000.00 Real Estate First Mortgages Investments 1416 Eye Street NW. | Phone Malu 2434 —oa housebold furnitare 24 bours. ot to ¢xceed §00 at cent interest. All we ask is & savings aceount. BENEFICIAL BUILDING AND LOAN ASSN. 14t Beer Fis. Ave. 28+ £ . REPORT OF THE CONDITION OF THE American Security & Trust Company At Washingtop, in the District of Columbia. at the close of business on September 14, 1923, RESOURCES. 1.2 Loans and discounts, including rediscounts. acceptances of other banks, .and foreign bills of exchange or drafts. sold with indorsement of this bank (except those shown in b and c).$ Total loans ...... LA . Overdrafts, secured, $1,121; unsecured, & . U. 8. government securities owned. 5 . Other bonds, stocks, securitie Banking houses, $1, $227,644.66 5 . Real estate ow) house...... Cash in vault and amount due from national banks. .. . Amount due from state banks, bankers and trust compan in the United States (other than included in item 10) . Bxchanges for clearing houte. > Total of items 10, 11 and 12 . Checks on banks loca*ed outside of city bank and other cash items.......... Other assets: rance account Suspense ~ t Accrued interest ,208,522.88 $1,401.78 or town of reporting i e 28.603.04 3.234.48 326.39 271,068.61 1607,192.60 $3,400,000.00 . Capital stock paid in .. 4 2,000,000.00 . Surplus fund .. . Undivided profits . a Reserved for interest accrued b Reserved f © Less current expenses, interest and taxes paid . Ameunt due to national banks cetesirncetcann Amount due to state banks. bankers and trust companies in the United States and foreign countries (other than in- cluded in items 21 or 22)........ e . Certified checks outstanding.... . Treasurer’s checks outstanding. . .- . Total of ftems 21, 22. 23 and 24..... . $238,092.63 ‘Demand‘deposits (other than bank deposits). (Deposits pay- able within 30 days): Individual“deposits subject to check....... Certificates of deposit dye in less than 30 days ( for money borrowed). . e . Dividends unpaid s Seois . Other demand deposits—Trust deposits Total of demand deposits (other than bank deposits), items 25, 26, 39 and 30. Time deposits (payable after 30 day or more notice) and postal savings: . Certificates of deposit (other than for money borrowed). . Other time deposit R S e 3 Total of time dep , items 31 and 33 - Liabilities other than those above stated: Income tax collection T Interest collected not -earned. Total .... £ District of Columbia, city of W hington, ss. 1. CHAS. E. HOWE, treasuier of the above-named bank. solemnly swear that the abeve statement is true to the best of my knowledge and belief. s CHAS. E. HOWE, Treasurer. Subseribed and sworn to before me this 20th day of ptember, 1923 ALBERT H. SHILLINGTON, Notary Public. WROLD NOYES CLARENCE R. WILSON PERCY McGLUE ALBERT CARRY MALCOMB G. GIBBS JAMES F. SHEA J. PHILIP HERRMANN CARY T. GRAYSON C. A. ASPINWALL Directors 12,110,658.57 other than L 3 45.360.00 106.00 1,238,161.91 $13.399.286.48 t to 30 days' 78.305.99 11,276,146.24 $31,607,192.60 Correct—Attest: C. J. BELL CORCORAN THOM B. F. SAUL HOWARD MORAN CLARENCE F. NORMENT WM. E. SHANNON GEORGE W. BROWN JAMES M. GREEN WM. W. EVERETT W. §. CORBY ‘WM. J. FLATHER, Jr. Washington's Oldest National Bank It Often Happens —that the chance of a lifetime must be foresworn just for the lack of a few hundred in cash. You won’t be caught minus money when your opportunity comes if you bank a few dollars with inflexible regularity in OUR SAV- INGS DEPT. fiThrift is 2 habit that pays big dividends, as many of our savings patrons already have found out. $1 or more will enroll you. Our Savings Deft. Pays 3% Compound Interest National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000 15th St., Opposite U. S. Treasury—109 Years Old Organized in 1814 | National Mortgage & Investment Corporation | 811 Vermont Avenue N.W. Deals in the Best Real Estate Securities First and Second Trust Notes and Ware- house Receipts are purchased at fair rates Its 7% First-Mortgage Notes, SECURED by Improved District of Columbia Real Estate, Are a GOOD INVESTMENT. Offered in denominations from $250.00 UP. Know Your Investment House! When you have decided that First Mortgages are the safest form of in- vestment, as eventually you will, there is one thing more for you to be sure of. Be sure you know how we handle ”.~ OUR, First Mortgages; be sure you know, . that every ‘interest payment through us is sent out so that it will reach you on the day it is due; be sure you know of the many little safeguards we place around our mortgages, which were originated by us and are exclusive with us; and above all, b sure you con- sider fully that no investor has suffered . a loss through our Notes in our fifty. four years. '~ : ; Swavlzéli, Rheem & HenseyCo. 727 15th Street N. W. 54 Yéars Without Loss to An Investor )