Evening Star Newspaper, October 11, 1923, Page 31

FINANCIAL. JUBSREDINGET oA S S balon ot SERVCEBESTAD FOR STREET CARS Expert Would Have Comfort and Speed Rival Autos. Advertising Urged. BY J. €. ROYL Special Dispatch to The Star. NEW YORK, October 11 service and advertise it. In that pol- icy lies the future success of every transportation company, according to Eritton 1. Budd, president of the Chi- cago North Shore and Milwaukee Interurban railway, which today was awarded the Charles A. Coffin foun- dation- prize consisting of $1,000 cash and a medal for having made the greatest contribution to electric transportation during the last vear. “The electric railway industry is in the midst of revolution,” Mr. Budd d. “Methods and practices which were good twenty, ten or even five vears ago will not suflice today. The question, therefore, is whether the electric railroads are going to lead the procession or wait until they are pushed. Notes New Comfort Standard. “Public relations, a term often mis- used and generally not fully under- stood, the heart of the electric railway industry. In recent years the concept of transportation service has undergone a radical change. The de- THE EVENING STAR, WASHINGTON, D. 'NEW YORK CURB MARKET . Rectived by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN. NEW YORK, October 11.—Profes- sional operators werg active in to- day's dealings on the curb market, while public participation was again limited. The former element tried its hand on the short side of Durant of Delaware and was successful in breaking the stock over three points to & new low for the vear. It has been noticeable for several days that those working for lower prices were taking advantage of the unfavorable points in_the automobile situation. - When it was realized that it took comparatively little selling to bring about a deciine of 2 polnts, opera- | tions on the short side were renewed and Durant hroke more than b points from last week's close. Then in the afternoon when traders started to cover their short vontracts the stock rallled as easily as it had come down. The recent advance of 10 points in Gillette Safety Razor had discount- ed the regular quarterly dividend of |83 declared today, and the stock held | around it's recent high of 270. | "The latest encouraging figures on domestic crude-oil production had little effect upon ofl shares. Slight advances_were recorded among the leading Standard oils in the early part of the day, but no effort was made to bring about a general up- ward movement. Independents re- mained quiet, with only slight frac- tional changes. The new Blynn Shoe Company com- mon stock of $10 par value was ad- mitted in the afternoon, but attracted little attention. First sales were made at 10. Gulf Sta Refining _Corporation _non - yoting shares of $5 par value were also ad- mitted, and were active around 6. National Supply of Delaware and Ar- mour & Co. of Delaware preferred were transferred to the New York Stock Exchange. The new Shell Union Oil rights were in demand around 70, while the new stock changed hands at 13%. NEW YORK, October 11.—Following fs an official list of bonds and stocks traded in on the New York Curb Mar- ket today : Fales in thousands. 1 All 5 Alum 75 19 I Alum 75 new 4 Am Cot Oil 6s... 6 Am Gns & Am Sumat T Am T & T b 3 Anaconda @s . &y Favip 3 v Fauip 7 teel Ss. o 1 1 Co A S as Balto ¢ Cons Textiles #s.. Derre & Co Tlas. Detroit City ¢ velopment of the gasoline motor has Dbeen the most important individual factor in bringing about this change. The traveling public has become ac- customed to the speed and comfort of the automobile. We who are en- guged In_furnishing transportation Service must bend our energies toward approximating or excelling the new standard of speed and com- Fort. Our business is to supply a service that will save time, save money and equal the comfort and conveni « of the automobile. We cannot do that by following methods of i few years ago. Friendly Relations Vital, “Public relations are the center, the saln_ spring on which all our other ivities depend. Evervthing we do i4 a matter of public relations. A few years ago & company's public relations were considered sutisfactory if not subjected to too many or too drastic orders from the public body which regulated Jts service and if it escaped criticism from the newspapers. To- day regulatory bodles and newspapers are fairly representative of the senti- ment in their communities. 1f a com- pany has the good will of its cus- tomers it has no reason to fear either vegulatory bodies or newspapers. For that reason it is the business of the companies to establish and maintain good relations with its own customers direct, If the service is above criti- cism there apt to be much criticism. Service First Requisite. “The first requisite toward main- taining good public relations, there- fore, is service. A company may spend a large sum of money in ad- vertising its service, but unless the service really is good the advertising will_not be’ effective, The modern meaning of ‘service' Includes much more than the mere giving of a ride. The husiness of the electric railway company today is to supply transpor- tation so convenient and so eco- nemical that the passenger will| choose it in preference to any other. | “Assuming a company is giving | thaj character of service it must dis- | play its goods to prospective custo- A wake merchant does with superior goods and wait for customers to come in is not Federal Su Phila_Ele: Phil Pet Pub Serv o BONDS. 2 L of Arg 65 w i 908 1 Mexican Govt 8s.... 543 p of Peru 10 Bwiss Govt & Rwiss Govt TU S of Mexico 43000 Salex STANDARD OIL in uui 100 120 10 50 400 Anglo-Am_ il uckeye P 1. Crescent P LU Cumberland I, Pet Co Tad CRUDE OIL OUTPUT DROPS DURING WEEK {Decrease of 62,850 Barrels Re- ported—Imports Gain in nd buy. He goes out after the cus- tomers and the electric railway com- yany must do the same. The better service a company gives and the more it mdvertises that service the better are its public relations. Employes Support Necessary. “One important way in which pub- relations may be improved is through the employes of the com- pany. The merchant draws customers to his store by advertising and dis- playing his good When they enter store he sees to it that they : given the right kind of service ttention. He sells his custom- service’ along with the goods und they come back. Preciscly the sume methods mu followed by tre portation com It is obvivus that befo: can become cfficient company must first ‘sell’ itself to its employes, The successful salesman must believe in the goods he is sell- ing and the company which® offers them for sale. How to Handle “Grouches.” “The smallest detail should not be overlooked. A cheerful ‘good morn- ing’ from a pleasant mannered train- man will often change a_ grouch to smile. Think of the effect which i thousand courteous obliging train- men will have on their customers. Of the many ways of improving public relations, the most important, I be- lieve, is through the employes.” The advertising uppropriation of Alr. Budd's road is the largest of any clectric _rall company in the | United States, and newspaper space is liberally used. In the last seven Years the gross carnings have in- creased five times over and the freight earnings now are fifteen times what they were five years ago. MILL PRODUCTION GAINS. SEATTLE, October 11.—Production In the saw mills of western Wash- ington and western Oregon in the jirst thirty-eight weeks of this vear Was 22.19 per cent above that of 1922, t greater than in 1921 and 2§ per cent greater than in 1920, Shipments up to October 3 were 3 yor cent greater than for the corre- sponding period of last year. For week production was 25 per ubove normal capacity. SHORT-TERM SECURITIES (Quotstions furnished by Redmond & Ca.) e 99 1025 1008 17,1 10115 employes salesmen, the Aluminum Co. of Amer. Alumoum Co, o Amer, o I American Cotfon Sugar Os 1987 Am Tel. & Tel. a1 American Tel. & Tel. s 19 Anaconda Copper 6s 1920 “Anglo-American Oil Tigs 1 adiau Northern 5igs 19 entral Argentine Ruy. s 102 | Kot s T8 orp, Os 1827, 65 1935 85 1631 B Federal Suga; Fisher Body € Fisher Body Corp. T. & K | 1005 Aiehigan State Tel, 5 1924, '00% 100 Michigan State Tel, 3 4 % Bt. P, & B, 8. M. 6lgs 1081, JO15] Morris & Co. 7148 1630, 100 Pouns. B. T 78 19%0. 108 St. Paul Unjon Depot Blgs 1923, 0 s, Roebuck & Co. s 1023.. 09 Standard Oil of €alif. 5s 1925 74 Fatwster 01l Olgs r 1'-1?):.1‘:»: Car Ts 1830 1. 8. Rubber 718 1630, Wentern Union Gis 1086, Westinghouse L. & M. 78 1061 TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ——Noon.—— Ria Offer. 99 20-32 100 90 20-83 100 1 100 332 100 11-16 100 13-18 100 11-16 10013 102 106% | December 13. 1923, cren 35, Toze w e 15, 1924, foptember 15, "idid. asen 15, 1 Soren 15, mber 15, Same Period. By the Associated Press. NEW YORK, October 11.—The daily average gross crude oil production of the United States decreased 62,850 barrels for the week ending October 6, totaling 2,157,400 barrels, accord- ing to the weekly summary of the American Petroleum Institute. The daily average production east of the Rocky mountains was 11 rels. a decreasc of 42,87 California production was 834, of 20,000 1s 'd mports of petroleum at principal ports for *the month of September were 225,133 barrels, com- pared with 249,548 barrels for Au- gust, and for weck ended October 6, 240,143 barrels, compared with 238,- 143 barrels for the previous week. Dally average receipts of California oil at Atlantic and gulf coast ports for month of September were 184,267 barrels, compared with 211,741 barrels for August, and for the week ended October 6, 196,285 barrels, c with 280,571 barrels. Ees LOVETT QUITS UNION PACIFIC POSITION Gives Up Management, But Takes Place as Chairman of Board. B the Associated Press. NEW YORK, October 11.—On the advice of his physicians, Robert S, Lovett today resigned as chairman of the executive committee of the Unlon Pacific system. The resignatfon becomes effective January 1. Mr. Lov- ett, however, will remain a member of the board of directors, but is re- lleved of duty or responsibility with respect, to the general management, At the meeting of the road's directors today, at which the resignation was accepted, a new position—that of chalrman of the board—was created for Mr, Lovett, in order that he might haye specific jurisdiction over Union Pacific matters in the question of railroad consolidation and the valua- tion of property by the Interstate Commerce Commission, The directors also amended the by- laws creating a finance committee to have charge of all Investments, financial affairs and to possess the powers of the board,of directors when the board is not in session. Another amendment enlarged the responsibilities of Carl R, Gray, president of the road. placing him in full charge of operations of property in_the west. The directors also placed ths New York office in charge of Controller ¥. ‘W. Charske, who will be elected vice president. SUGAR BIT LOWER. NEW YORK, October 11.—The sarly raw_sugar market was neglected pending the double holiday and prices remained practically nominal at 5% cents, cost and freight, for Cubas, equal to 7.66, duty paid. Raw sugar futures were equally dull and except for a, little selling of March showed no_feature, Opening unchanged to a decline of four peints, the market at noon was unchanged to '}\Ve points Iowelr. RATES ON BAR SILVER. LONDON, October 11.—Bar_silver, 31% d per ounce. Money, 2% per cent. Discount rates: Short bills, 215-163 per cent; three months’ bills, PNEW YORic October 11—Bar sil NI - 0| y=aoe] 8il- ver, 63%; )lfixlcu dollars, 45%. 000 bar- | les in hundreds. 20 Ark Nat & Carib Ssnd 1 Cie Serv 3 Clt Serv pi 3 Cit Serv 11 ¢ $1.000 Cit Nerv O kerip 00 Cit Sery kerip.... . 10 Engineers Pet...... .08 117 Gulf State Oil Ref, 6t Gulf O Ref w i.. . 18 Keystons Ranger... .03 Yuriund, & INDEPENDENT OIL STOCKS, s 87 Do Ly oTe 124, 0 W Northwest 0il ars0il & r Ol Corp.. Beaver Oil. Canad 0 & I Shell Un new w i... South States Oil Tidal Osage Oil Midla hoes Tae. Bridgep Mach w i Brit Tnternl Corp B.. 3 Bkisn City R K. .. ‘eateit Tron Pipe.: hecker Cal Mfd A Nip new w i jilier € & Radio ant Mot ... Durant Mot of il Tnspect 3 Ford Motor Co Can Gilletie 8 R len Alden Coal asovite Prod Lehigh Val €0 1l Cent R R rts w i Totl Con Prod... o Cotp PI.... rtow i Conl w i P Shar new. Retall Pip ¥s Corp 1st pf MINING ilobe Cop.. Cunario Copper Cork Prov Mines... . Cortez Silver 2 pe: Emma Bilver . ureka Croesis ! 3 Ohio Copper... Premier Gold Min.. 0 Ray Hercules Inc.. Red Hill' Florence. 2 alida Mines . Silverhorn Mi Silver Pick Bilversmith M 3 8o Am Gold & P. Spearhead Gold 290 Sutherland dev mius ‘eck Hughes ... COTTON GOODS DROP; BUYERS STILL WAIT Cloth Trade Picks Up Some Today. Raw Silk Market Firm. Special Dispatch to The Star. NEW YORK, October 11.—The drop in cotton goods for which buyers have been holding off for several days came today. A quarter-cent reduction was made by mills on print cloths, bring- ing them to the lowest figure since August 30. The G4 by 60 prints were quoted at 91% cents and the 68 by 72 at 11'5. The cuts stimulated business somewhat, but some buyers held off in hope of further concessions, The v silk market continubd its firm stand, but with little business being done. Quotations were un- changed from Wednesday. WOOL EXPORTS GAIN. Dealers Finding Much Better Mar- kets Abroad. Special Dispatch to The Star. BOSTON, October 11.—The export movement, centering about South Americans, especially Lincoln bs, was the feature of today's raw wool mar- kets. Domestic buying of wool has slack- ened percipitibly, but dealers are find- ing ready markets abroad. Approach of ool weather has brought a slightly im- proved tone in the goods market. Mill buying, however, is still of the hand-to- mouth variety. Receipts at Boston Wednesday, were 351 bugs of domestic wool, » CROKER ESTATE LOSES JUDGMENT FOR $157,605 By the Associated Pre: NEW YORK, October 11—A judg- ment of $157,605, with Interest from September 30, 1921, has been awarded Richard Croker, jr, in connection with several suits to recover from his father. former Tammany chiftain, new ;ieceare':i‘ sums loaned since wosd eree Ashbel P. Fitch a e m_x;l night. Ao he eider Croker died in Ireland i January, 1922, e In o statement Mr. Croker sald the litigation arose after the second mar- rlage of his father in 1914. Two years later, Mr. Croker said, his father took from him the management of his af- fairs and turned them over to hig second wife. Mrs. Rula Edmondson Croker, sec- ond wife of the former Tammany boss, quoting what she said were her husband’s last words, declared that she would earry the Croker will 1iti. gation brou{m by the Croker children to the highest courts, If necessary. and never compromise. Bhe said her husband made her promise him on his death bed to “fight it, out in open Saish.” court and te a Oil and BHOURDAYISSUE INTEXTILE MILLS All New England Watching Vote in Maine—Longer Hours Prevail in South. BOSTON, Mass., Octeber 11.—Textile manufacturers in New England are watching with considerable concern for the manifestation of the attitude of Maine on the eight-hour day. That state will hold a referendum Mon- day to determine whether another im- portant link in New England’s textile industry will go on a forty-elght-hour week b Until 1916 Maine indus tries were on a sixty-hour week and since that time the fifty-four-hour basis has prevailed. Within a year Rhode Island and New Hampshire legislatures have de- feated bills providing a forty-eight- hour week basis. Massachusetts has been on a forty-eight hour week since 1919, and whether this is responsible’ or not, the fact remaine that no im. portant new mills have been con- structed in this state since then, while 103 have been put up In the south, where the working week ranges from fifty-five to sixty hours. Maine manufacturers estimate that a forty-eight-hour weck will mean an 11 per cent decrease in wages. They say the mills can not absorb the added cost and labor must. They contend that with wages in southern mills 25 to 33 per cent lower than in New Ingland no further obstacles should be raised against the northern mills. Retail Grocery Methods Show Steady Advance Special Dispatch to The Star. ATLANTA, October 11.—System in retailing groceries will gradually take the place of hit and miss methods as @ result of present day competition and the fittest will survive, J. H. Mc- Laurin of Jacksonville, dent of the American Whole Grocers' Assoclation, said today. He added that marked strides were be- ing made in the greatest of Ameri- can distributing businesses and that public confidence in the grocery man, shaken by unjust Imputations after the war, were being restored. “Better methods are keeping consumers’ prices close to those pald producers.” he concluded. Household Furniture in Splendid Demand Special Dispateh to The Star, NEW ORLEA October 11.—An {unusually large volume of business in carp rugs, draperles, furniture and other lhousehold furnishings is reported by retail dealers here. This business has been growing steadily for months and has reached a point where stores are feeling delay in shipments from manufacturers. There also is an excellent demand for Dianos, and manufacturers of those in- struments are behind in deliveries. Business in tubs and bathroom ac- cessories is active. NEW YORK DAIRY PRICES. NEW YORK, October 11.—Butter firm; receipts, 12,590 packages: cream ery higher than extras, 48a4813 creamery extras (92 score), 47a47% { do., firsts (88 to 81 i s _irregu receipts, 16.198 New Je henner: whites, cted extras, 74u76; nearby ites, closely selected ex: 75; state, nearby and nearb hennery ‘whites, firsts to ex- 70; Pacific coast whites, ex- 7 do. firsts to extra firsts, 83,966 53a65. Cheese unsettled; pounds. 519 MEN LOSE JOBS. DETROIT, October 11 (Special).— The report 'of the Employers’ Asso- ciation for this week shows\214,071 men at work, a falling off bf 519, compared with last week. Employ- ment, estimated on the basis of the association’s report. Is placed at 322.- $000. or about 32.000 above what is recelpts, ‘!cuh:-ldtn\ll normal working forces. —_— { Washington Stock Exchange. i SALES. “.\!\':;1.'[;{;"&? 65 '33—$1,000 at 1001 S okiogton Ry & B Lanston Monotype—10 at AFTER CALL. Washington Gas 6s '33—$1,000 at 100%, $1,000 at 10015, $200 at 100%. u' Money—Call foans, 588 per cent. Notice—This exe will be closed tomor- Gas eorgetown G Metropolitan R. R. Ba. Tec. 1st Potonae Elec. cont Potomac Elec. deb. 8s. Potomac Elec, 85 1963, Pot. Elec. Pow. g m. & ref. o Alex. & Mt. Vernon bs.. Wash., Alex. & Mt. Vernon etf. s B.. STOCKS. PUBLIO UTILITY. Wwa Terminal eveeees s NATIONAL BANKS, Capltal .. Enl\lflh|l . ommercial Distriet ers F::ll\-‘m!rml Lberty Kaiona1 " Metropolitan. Becond . Yetionai Bank ‘of Weshiogton, TRUST COMPANY. American Seeurity & Trust. Continental Trusi Continental Trux Union T Washington Lesn 5 BAVINGS BANK, erce & Bavings. !em‘nl‘; ."““ bia Graphophona com.. g‘:},c ,.»..:n’-- pra. C., COMMODITY NEWS WIRED STAR FROM .| . ENTIRE COUNTRY ° PHILADELPHIA, October 11.—The policy of some hosiery manufacturers |to sell direct to retallers is not ex- pected to be generally followed in |this section. Inquiry reveals that laome of the larger jobbers and wholesalers have substantial mill in- terests, This, it is felt, will mitigate against any effort to eliminate the jobber, PORTLAND, Ore., October 11.—The Oregon Growers' Assoclation has cut | the price of new crop walnuts ap- proximately two cents a pound, bring- ing the level of prices on a par with | that of California stock here. The | second shipment of California non- association stock has just been re- ceived here. HOUSTON, October 11.—The Texas corn crop now is estimated at 87,66! 000 bushels, or nearly 27,000,000 bush- tls short of the 1922 production. The~ decrease is due to smaller acreage planted and the dry sum- mer. The oats production will be nearly fifty million bushels, or more than sixteen mjllion above last sea- son. CHICAGO, October 11.—There is a notable scarcity of crushed stone of sizes suitable for concrete in this sec- tion, and quarrymen are planning to extend production. Shipments of crushed stone have been very heavy for some weeks. DETROIT, October 11.—Ford pro- duction for the week ending Wednes- day night totaled 40,792 cars and trucks, a decrease of 493, compared with Jast week. Nineteen hundred and six tractors were completed and 186 Lincoln cars. ATLANTA, October 11.—Cotton is being picked out rapidly in Georgia. Stalks yet green are being cut down and burned to prevent hibernatica of boll weevils. PITTSBURGH, October 11.—The greater part of a $1,000,000 contract glven the Westinghouse International Company for cquipment to be used in reconstruction work in Japan will be produced in the plant of the West- inghouse Electrical and Manufactur- ing Company, East Pittsburgh, it Is officially announced. DETROIT, October 11.—The M igan grape crop is the largest ever. The output is so heavy that prices have dropped from $75 to $40 a ton, and railroads in western Michigan are virtually swamped. SOUTHERN’S PRESIDENT SCORES TAX SYSTEM RICHMOND. October 11.—Ruilroads which seck to provide for expansion of transportation facilities required in public service are forced to over- come obstacles that have become ex- tremely burdensome to the roads, ac- cordini Fairfax Harr} presi- dent of the Southern ra By reason of the outpouring state, aré | to ¥ -free privileges. raflros ged to pay a higher interest compete in the money ma As a taxpayer it contribute the burden of carrying a g greater proportionately b in- vestments in these securities escape taxes, he said. and a railroad suffers a loss of both passengers and frelght traflic to motor cars using the high- ways, to bullding of which a large proportion of money derlved from these tax-free securities is devoted. AEgTogate tax-exempt seourities is- | sued in 1918 and 1922 from the twelve states into whieh lines of Southern railway extend follow: Highways ... Water, ‘sani “light . Schools Refunding Miscellaneons SPAIN’S CROPS SMALLER. Agriculture Department Expects Better Demand for Wheat. Smaller crops of rice, corn and po- tatoes in Spain this year may result in a larger demand for wheat, the Department of Agficulture sajd foday in giving out forccasts received from _THURSDAY, OCTOBER. 11, 1923. GERMAN WARKS 5000 ODO0DFORS1 Peddlers Doing Big Business Selling Paper in New York at 10 Cents Per 100,000. By the Associated Press. NEW YORK, October 11.—Peddlers | on lower Broadway are doing a big business and making a handsome profit selling German paper marks at 10 cents for 100,000 and throwing in a “made-in-Germany" tin whistle. Marks were quoted at 5,000,000,000 for §1 to- | day. Study Cuban Sugar Law. Sugar interests with property in Cuba are withholding comment on the Tarafa bill, which became a law Tues- | day, until ‘they have seen a certified copy of the measure as enacted and approved by President Zayas. They | succeeded in haviug the bill amended | before final passage, but had expressed ! opposition to it even in that form. Two New Hond Offerings. Public offering was made today of $2.265,000 twenty-five-year 6% per cent first mortgage gold bonds, serles “D," of the Kentucky Utllities Com- pany, at 98%; and interest, about 6% per cent. Offering also was made of $1,073,000 city of Toledo, Ohio, direct obligation b per cent two to twenty-five year bonds at prices to yleld 4.50 to 4.60 per cent. Other Wall Street Briefs. Iron Products Corporation reports net earnings of §1,003,964 for the first six months of this year. Kresge Department Stores Com- pany officlals have denied rumors that it was seeking to acquire control of Stern Bros., in New York. Net income of the National Supply Company of Delaware for the first six months of 1923 totaled $3,023,039. The Continental Can Company ar nounces net income of $2,868,790 fo the elght months ending August 21 1923, and surplus of $2,031,42% afte payment of common and preferred dividends. LABOR TROUBLE FEARED. ST. PAUL. October 11 (Special Labor trouble is again threatened at the new Ford factory here as a re- sult of continued refusal of Henry Ford to insist that contractors pa the union scale and establish an eight-hour d Wages now paid are 8714 cents an hour for skilled work- men and 45 cents for unskilled on a fitty-hour week. The union scale s $1 un hour for skilled and 50 cents lled men, with u forty-four k. The city and county em- ployes union started a move for a $3 a week pay increase to yleld Money to Loan on improved D. €. property at prevailing rates of interest. See Mr. Field Hedges & Middleton, Inc. 1334 H St. N.W. | Franklin 9503 Money to Loan Secured by first deed of trust on real estate Prevalliog interest and commisslon. | Toseph L Wetler Y50 % 2 Money to Loan ANY AMOUNT nable ARNOLD AND COMPANY INOORPORATED. Capital, $1,000,000.00 Real Estate First Mortgage Investments 1416 Eye Street N.W. Phone Main 2434 Corporation Commercial National Bank Bldg. BRANCH BANKING CRITICISED by Mr. Dawes, Comptroller of the Currency Extracts in ANTIBRANCH BANKER On Sale Friday With good will the issue is drawn in the Anti-Branch Banker. FAIR- and a See that LAW, MORALITY, NESS against GREED MONEY MONOPOLY. vour boy has a fair chance. For Copies Phone Benj. Mensh, Columbia 3800 FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF SO0 DOLLARS AND UPWARDS /1207 %neo&m&' .%anae First Mortgage Loans FOR SALE In Convenient Amounts at 61,9, interest the International Institute of Agri- culture at Rome. ! Corn production was forecast 24 ompar t imate of The riee 568,000 poun. 9,000 pounds last year, 600 hushel 14,000 bushels, final offic against and potatoes at 93496 compared with - Sugar beet productio: 1,345,000 short tons, agal short tons placed a st 1,624,00 Secured on Improved Properties JAMES F. SHEA 643 Louisiana Ave. N.W. The wheat crop in Spain this year, the statement sald, has been esti- mated at 142,072,000." Last year it was 125,469,000 bushels. Australian acreage sown for the 1923-24 crop was ost 10,000,000 acres, compared 504,000 in 1922-23. e GRAIN VALUES IDENTICAL. wheat ated at with 9,- Very Unusual Situation Noted in| Corn and Wheat Markets. CHICAGO, October 11.—Unusual shifting of grain values made corn and wheat alm tical in value. No. 2 corn in{ Chicago was worth S1. hel at the close of trading and No. 2 hard wheat ranged from $1.10 to $1.14%. Corn sells ordinarily about 25 cents a bushel under wheat, but the supply of corn has been nearly used up fore the new crop is ready. As a sult cornmeal is actually quoted high- er than some good grades of wheat flour. Yesterday's advance In No. 2 vellow corn amounted to 4 cents a bushel. GRAPE CROP LIGHTER. Agriculture Department Reports Slump From Last Year. CHICAGO, October 11.—Grapes are less plentiful than last year, accord- ing to the federal bureau of agricul- tural economics. Shipments of 33,260 carloads for the week ended October 6, compared with 35,015 for the cor- responding week last year. A 40 per cent crop decrease in New York, 30 per cent in Pennsylvania and Michi- gan and 6 per cent in California were reported. ARMOUR STOCK LISTED. NEW. YORK, Octobel 11—The New York Stock Jxchange has approved the application by Armour & Co. of Delaware to list $60,000,000 of its 7 er cent guaranteed preferred stock. he company was incorporated under the laws of Delaware December 27, 1922, with a perpetual charter. It wasg organized to acquire certain propers ties from Armour & Co. of Illinols. HEAVIER COTTON BALES. NEW ORLEANS, October 11.—A statement on the weights of 1,267,697 bales of cotton handled at out ports and across the Mississippi, Ohio and Potomac rivers, overland to American manufacturers outside of the cotton belt during the months of August and September issued by Secretary H. J, Hester of the New Orleans Cotton Ex- change shows an average per bale of 527.34 pounds, against 523.87 for the some period last year. DIVIDENDS. Pe- Pas- “When” You Buy a Properly Placed 7% ' First Mortgage Note where in th tment field b tisfactory record been We, like many others dealing First’ Mortgages, boast of the ene le record of mever a loas of u 7 in cither principal or rent. ‘Notes now on hand fn_amounts of $100 Up to $5,000 LBun particulars "apply Mr. O'Dossell, an CHAS.D. SAGER 924 14th St. N.W. EQUITABLE Co-Operative Building Association Organizsed 1879 434 YEAR COMPLETED Assets Surplus . Save While You Have —make up your mind to join the Equitable and save systematically, Subseription for the 85th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915FSt. NW. - OHN JOY EDSON. Presideat ‘munx P. REESIDE, Seey. 67 to 97 Yield Bonds, Public Utilities Stocks Monthly Payments if Desired ‘Write fox Booklet “Serving a Nation” Rate. riod. able. Aml"llTn(Hl)?a Q Oct 20 ol Carbon cqm. -, 4108 O 1.00 Gombus, Bng.l. 50 o7 Wheel Go bl.. 13 M Co com.. 2 Weolworta (F W).$2. Oet 81 Nov 1 Nov 1 ~Dec 1 Thos. W. Brahany & Co. 510-11 'Evans Builing Main €189 In the Path of Washington’s Growth UR First Mortgages owe their dou- ble security to the impregnable safety of Washington and our choice of valuable, improved property in the path of the city’s growth. Every loan secured by our First Mort- gage Notes holds a fifty to one hundred per cent margin of safety in the value of the property, and is arranged in short terms to permit periodical investigation. These Notes are available in denomi- nations of $100 to $100,000, and may be purchased either for cash or through our plan of SYSTEM SAVING. Call or Write for Detailed Information Swartzell, Rheem & Hensey Co. 727 15th Street N.W. 54 Years Without Loss to an Investor SECURE YOUR FUTURE It isn’t the fortune you hoped to make by speculation, but the con{petence you saved by wise that will investment secure Over a vour future. Quarter Invest in our of e Century Without a Loss FIRST MORTGAGES From $250 up. B. Main 2100 F. SAUL CO. 1412 Eye St. N.W.