Evening Star Newspaper, October 17, 1923, Page 28

28 3 ARMERS THINK AID 1S STILL FAR OFF President’s Plan for Freight! Rate Cut Must Also Have 1. C. C. Approval. ¥y J. ¢. ROYLE. pecial Dispateh to The Star. NEW YORK, October 17.- action over the suggestion by Pres- ent Coolidge that the railroads of be country institute a movement jooking to the reduction of freight ates on grain designed for export as tempered today among the ag i- uiturists of the country by reali- ation that considerable time must lapse before such a plan could be put o effect delays, farm- rs feel, would prevent them from bta & the immediate reliel which hey manding. Satis- Such re d €. €. Approval Necessary. ccording to grain was further com- announcement b The situation, 1 railroad atod Interstate ce Commission hat it would at with 1 investigation to determine wheth- present railroad rates grain products are should President Jggestion be favorably received U e railroad executives when pre- ented to them by President Rea of h Pennsylvania system, no road into effect a reduction of me f Comme proceed oneel on 1a reasonable. “ven Lould put reight rates on export grain until al been prepared Interstate Com- nd approved ite sehedule had ihmitted to th Commlssion shown in onclusively on of the committe enying the rain growing duetion of freight rates on o Mississippi i on t ‘evidence to justiry grain the such on. commission, however, held open which has been before it months, for presentation of evidence. armers See Long Delay. felt farming cor ] dispatc receive 1y, that the commi: would take action on freight s involving reduced rates on ain until after it had com- own investization and onciusic As the com- nquiry will be country de, immediate action does not ap- year probabl In the meanti moving from the ce the prod n-growing to Montreal The or =om¢ d by adian grain ead of the laki of the large provinces are gath- for shipment eaper than Ameri- the northwest can to American Atlantic all rail or rail and “oreign Shipments Retarded ind. Ore., c the ¥ arket for wheat in the tically there The only activity at present ists of filling in orders placed with millers and exporters. Cables from London show that two cargoes of [Portlund-shipped wheat now iave been sold there. One cons v white wheat lings, netting about a bushel, freight on boars r of mixed grade brought 43 6 pence, netting S$1041:, a otl L it o. b. Sweeping Cuts in G llar objections were consumers to the sugs coal for domestic and delivery equalized, but the throughout from Texas to the Gulf Refining Company brought joy to consumers. Othe lucers already have followed this cut, which is effective today in some sec- ions and are expected to make their prices conform in all. The reduction was not entirely un- -spected in view of the recent adjust- nents in crude oll prices in the mid- ontinent territory and the piling up of huge stocks of zasoline in Cal ia. Another small_jobbers and distribu cut_prices in gulf territory, ro deemed lers continue maintained Offering Wid 1o at 10 woline. ed by stion th srobab o cut by the large d of California ga have been made he ents a gallon. bul The reduction of Massachusctts here to 151: cents lowest price sinc cents under the high p years ago. DRY GOODS APATHY AWAZES PRODUCERS Belief in South That Cotton Is Now Selling at Prices Which Are Reasonable. > recently brings the holesale, and 1 three gallon D th By tie Associated Press NEW ORLEANS, October 17.—Bus ness men, bankers, cotton merchants and producers who follow the cotton arket and who hear the doleful re- ports coming in from ginners and planters in all sections of the cotton belt are amazed at the lack of ac- tivity in the large dry goeds centers and the apparent unwillingness of merchants and mills to provide for future requirements of cotton and cotton goods at prevailing prices. Every trader in this section accepts as a foregone conclusion that higher prices for raw cotton will obtain be- fove January 1, und even higher levels after that time until the new crop is planted. The least ontimistic look for a price of 35 cents a pound, and many predict cotton will go fo 40 cents. The crop appears to have been made under great difficulties, and now is being picked under adverse weather conditions. It needs only an early frost to complete a disastrous record. The fact that the government officials are considering the issue of a revised crop estimate is being accepted here as evidence that the recent estimate of 11.000.000 bales is too high. Heavy foreign exports indicate that the foreign mills realize the serious- ness of the situation. and many ex- peect that Ameris spinners may soon awake to the fact that foreign con- sumers have bought the bulk of the cheap cotton as well as the cream of the crop. WHEAT SHIPMENTS SLOW. SEATTLE, October 17 (Special).— Movement of wheat to tidewater from Washington. Oregon and the pan- handle of Idaho is only twenty per cent above that for the correspond- ing period of 1922, although this Fear's crop is 80 per cent PARIS MARKET HEAVY. PARIS, October 17.—Prices on the bourse today were heavy. Three per cent rentes, 55 francs 35 centimes. Exchange on London, 75 francs 30 centimes. Five per cent loan, 74 francs 50 cen- un‘r'r?“d 11 6 o dollar was quoted at 16 france 6534 centimes, grain | Coolidge’s | presented was ! to con- | for- | pro- | factor has been the | i FINANCIAL. l NEW YORK CURB MARKET BY WILLIAM F. HEFFERNAN. ' NEW YORK, October 17.—The out- | standing feature in the curb market today was the strength displayed by | most of the oils in face of the heavy | slashing ot quotations on gasoline. | That there had been no further| liquidation was stfficléntly notable, | but it was still more remarkable that the occasion should have been ad- judged fitting for a moderate re-| sumption here and there of opera- | tions for the rise. Such operations | appeared in Wilcox Ol and Gas, which rose from 4% to above 5 on large transactions. ! They also appeared in the similarly | low-priced Gulf States Ofl and Re- | fining. This stock had attracted at- | tention by the big volume which it had had for several days at and | around 6. When late on Tuesday it Follow and_ stocks Curb Mar- NEW YORK, October 17. is an_official list of bonds traded in on the New York ket today : Sales in thousands. BONDE. High, 0%, Acaconda 64 Ae & Co of Del Cont Steel 8 .. Charconl Co Am 84 4 Git Serv T D Col Graph 88 ...\ Gas Balt 65 A Deere” & Co Tiaw_. Dun Tire & Rub Federal Sngar 6s " Fisher Body alena Sig O Ts.. S Grand Triok Ge. . | 10 Hood Rubber Ts ... | 1KsCyPLt {5 Kem | 7 New 00 Tub 1 Phila ¥ 1 Pub Sery Sun Oil Ts....... Tnion Oil' 6a B *268 {2 Vacuum Ol % FOREIGN BONDS, Gost of Arg 63 w i King of Nether €. Mexican Govt bs.. Rep of Cuba 5s. tep of Peru Bs. Russfan Govt Swiss Govt 58...... JARD OIL | i { in units, ! Am_ 0Oil .... i % ot 1% 110 Buche: 100 Contin new. | Park & Tilford, Recelved by Private Wire Direct to The Star Office began to move up from this level Uraders were quick to conclude that what had been going on at 8 was gen- uine accumulation. Consequently there was a rush to buy, which con- | tinued today, carrying the price up as high as 7. Standard Ol of Indiana crossed 65 again. International Pet- roleum and Southern States Oil were supported around 15. Other ofl shares were inactive. Not so mu interest was taken in but the stock was well sustained around 30, and in the 2fternoon was quletly bid up again. There was more of a demand for the old Russian government bonds on re- ports that negotiations for a compro- mise payment by the soviet were progressing favorably. At10 the 5%s Were up nearly a point. < Ketivity developed at rising prices for Hudson Companies preferred, the stock going up nearly a point, start- ing at 16%. There is $4,000,000 of this Issue outstanding with a par of §: — 13 Red Bank il mew # Roy Can 0fl & Ref Refin Blyn Shoe luc Bridgeport Mac w i Brit-Am Tob com... Brit_Intera Corp A Bklyn City R R..... Buddy Buds : Nip new W i.. v Prod Cor w i ip B Tr ne wi e R Dubilier € 7 3 Durant Mot of In 1 Du Pont Motor. Ford Motor Co Gillette S Tt Gleas Prod.. Goodyear Tire . Hud & Mann R Hudson Co_ ptd. Inter Cont'l Rubber Lehigh Power sec. . Hurt Corp new w i Inl Concrete . Kresge D § McC Sts pf new pid. ] Park & Tilfond Rad! 3 Radio Corp pfd Read’g Coal ttw w 1 > Reading Coal w i Reo Motor . So € & I new Stutz Motor . Uni Retail i U 5 Lt & Heat.. Universal Pipe w i Tnivl Pipe ptd w Wayne Coal .. s Arizona Glohe Cop cleher Extens ... nurio Copper Columbia Emeraid Cons Cop Mines new Cortez Stiver ... 10 Cracker Jack Min. wi ibie O & R new | Geamiem s i 1w Imp oil of G d P L ) Intl Pet Co Lid nolin Pet i > 03l new 3 ! T3 ie Ol & Gas fag i | 2 s 20 § W Penn ! 10060 Yacoum O {1n hundreds, Ark_ Nat ¢ wrih Synd 1L Citlex Nervice ities Serv 1 it Serv B efa ... W00 Cit - Nery C_serip. serip OIL STOCKS Brad Ot w i 1 Neble Ol & Gas. Washington $tock Eichange SALES, és "33 Ss—$1.000 at S1LO0D at 93t 1001 ction S0 1 Potomae Tel. 5% of Va. at 93. | (ifuiy and Trast Cod at 05, st a0 at 00 i ! APTER Washington Rws. & Fler. 282 ;. 1504 Capita R Gas 53 -S40 R 1001, Moues—Call loans, 5 aud § per cent ! BONDS. Bid and Asked Prices. | PUBLIC UTILITY. ! Bid | American Tel. & Telga. 43 { American Tel. & Teign. $3is. i Am. Tel & Tol. ctl. tr, Bu..... {Am. Tel. & Tel. conv. 6s.... | Anscostia ‘and Fotomae | Anacostia & Potomac G {C. & P, Tel. 3s. 10, & P. Telephone of ¥ | Cupital Traction R. R. G, { City_and Suburbau { Georgetown Gas 1st | Metropolitun K. ¥ { Potomac Elec. 1s { Potomac | Potomac Flec. ! Potomac i £y ngion 255 D. C. Paper M Riggs Realty Riggs Healty 0s (short) i3 Security Storage & Safe Dep. Gs. Wash. Mkt. Cold Storage b Wardman Park, Hotel 6s. STOCKS. PUBLIC UTILITY. Tel. & Telga. ... Capital Tract Washington G . 3 & Elec. pfd.. 31 Co. Capital ...... Columbia Commercial District Parmers ‘and _ Mechanics’ Federal-American { Liberty Lincoln National Met Zi Riggs 800 Second ... 165 Nationai Bank of TRUST COMPANY. { American Security & Trus “ontinental Trust. W08, Merchants' Bank. L1 135 tional Saviugs and Trust.... 34 3 Union Trust..... RO TS Wash, Lown & Trust S 195 145 520 Asked. | 11 Cresson Gold 1 Crown King C 10 Eureka Croesus 760 Fortunn Miney .. 10 Goldtield Cons 30 o 10 10 Goldfield Florence. God Zone Hecla A Homestake Ext ndep Lead . Kin Dar | Niptsing Ohio Cop Me Hed 111 lidn Mines Sil Kink Div Stad il I Spearhead Stewart Mines Sutherland De Min. - no Belmont . Tonopah Ext Sil Horn Mine Tonopah Min United Eastern .. Cont new w i . Wilbert Market Flashes at Today’s Close Gflicials of coal-carrying railroads declared today that shipments of an- thracite coal to Canada were incon- sequential and consisted almost en- | tirely of steam which it was hard to dispose of in this country. W. H. William, vice president of the Delaware and Hudson railroad, serted that less than one-tenth of 1 per cent of the hard coal carried by his road was sent to Canada, and that i the exports did not include an of { the dom 2 as- es Earnings of Reynolds Tohacco for the ecurrent year promise to exceed the record total of 1922 which was $20,479,23 It was equal, after pre. | ferred dividends, to just short of {86 a share on 3.200,000 shares of { common and common B stock. The American Petroleum Institute reports crude oil production in Cal- !ifornia_during September at 25,762, 467 barrels against 26,444,005 in Au- gust. The average daily output in September was 858,749 Darrels, against 552,903 in August and 814,- 506 in July. Surplus stocks increased during the month by 2372774 bar- Tels. LIVERPOOL COTTON. LIVERPOOL. October 17.—Cotton, spot. quiet; prices, firm. Good mid. dling, 17.59; fully middling, 17.48 middiing, 17.39; low miqdling, 16.84; good ordinary, 16.34; ordinary, 16.04 Sales, 5,000 " bales, ' including American. Receipts, 17,000 bales, in- cluding 15.500 American. Future: closed barely steady. October, 16.89 December, ~16.36; January, ~16.16; March 15.88; Ma. September, 14.18 13.78. October BAR SILVER QUOTATIONS. LONDON, October 17.—Bar silver, 31% pence per ounce. cent. Discount rates: Short bills 3 per cent; three-month bills, 3 3-16 per cent. W YOR . 63%. October 1 Mexican dollars, 481, TODAY’S EGG PRICES. NEW YORK, October 17.—Eggs, irregular; receipts, 17,440 cases. coast whites, eoxtras, 60870. HELD IN BROTHER'S DEATH. DOUGLAS, Ga., October 17.—L. S Rogers, a former mill hand at th Garrant Lumber Company plant at has been arrested at or. the charge of John Alton forty-two vears old, in this | West Green, Avon Park, Fla., murdering his brother, Rogers 3%a —Bar sil- Pacific Pacific ast whites, firsts to extra firsts, GASOLINE REDUCED 2 CTS. PER GALLON Gulf Refining Company Cuts _Pricos in 24 States—Other Firms Follow. By the Assoc b ted Press. PITTSBIRRGH, Pa., October Two cents & gallon was cut from the service priqe of some 400 gasoline stations in tVic territory east of Ohio and in an iryegular line south of the Ohio river, e3tending to and includ- ing Texas, by | the Gulf Refining Com- pany last niglat. The Atlantic Refin- ing Company &t the same time an- nounced a simil\ar price reduction ef- fective throughaut Pennsylvania. The price in thye Pittsburgh district will be 19 cents b gallon. which does not include the 2 cents Pennsylvania state tax. In other states, the gulf announcement said. prices were far from uniform, ow)\’ to local condi- 17— tions, and it was fmpossible at this time to give the sedling rate in each state, It w explained that the general condition of the crudd oil market was responsible for the reyluction. Standard 01l Mk ets C ATLANTA, Ga., Oclober 1 Gulf Refining Companyhas announced a cut of 2 cents In the Yirice of gaso- line, eftective in tweniyy-four s in which the company w)perates, ac cording to Charles E. Saepyurd, dis- trict sales manager, e Standard 0Oil Company announced it wou!d take similar action. The prigry nurpose of the reduction, Mr. Shegppard said, was to stabilize production @nd stimu- late sales. Cut Announced in Louls ville, LOUISVILLE, Ky, Octobar 17.—A reduction of 2 cents a galloa1 in the retail price of gasoline in vhe five states in its territory, Kentudh'y, Mis- souri, Alabama, Georgia and Elorida. effective Wednesday, is annousced by officials of the Standard Oil Campany of Kentucky. Retall Price, 14% Cents. NEW ORLEANS, October 17.— Gasoline underwent a two-cent! cut here today and filling statlons were retailing it to motorists at 141 cents a gallon. This price includes the state tax of 1 cent a gallon and is the lowest quotation here in years. Texas Company Also Acts. NEW YORK, October 17..—Cuts #n the price of gasoline in New Jersey | and Massachusetts were announced | today by the Standard C companiest | of New Jersey and New York. and the ! Texas Compuny, bringing their prices in line with those announced yester- da by the Gulf Refining Company The cut in New Jersey was 2 cents a_ gallon, making the tank wagon price 1612 cents a gallon. In Massa- chusetts the tank wagon prices was re- gdun’cd 3 cen a gallon to 1533 cents. {U. S. COTTON CROP REPORTS FLAYED‘ iFigures on Planting “Intentions” | Are Considered Dangerous by Association Members. | | By tle Asscciated Press. COLUMBIA, S. C. October 17.—| Placing itself on record as disap- Proving the crop reports sent out b the United States Department of | Agriculture in which figures arel| given to the public purporting to| show the estimated acreages to be | {planted to cotton, as based on re f Ports of “intentions” of farmers to| plant, the American Cotton Associ- ion in its fifth annual convention vesterday passed a resolution at its closing _session urging the Depart- ment of Agriculture to stick to facts Ve feel that the cotton acreage is a matter of too significant and se- rious concern to the growers and the cotton trade generally.” the resolu- tion stated, “for estimates on acre- ges planted to be hazarded by guess. | work."” . Tha resolution further Congress ass ruch legislation and| provide necessary funds to enable the United States Department of Com- | merce to take a correct and dependa- | ble census each year after the cotton | crop has been planted to sascertain | the approximate acreage planted, on ! returns to be accurately filled out by | every grower who plants cotton in the United State: he official business of the conven- tiion was brought to a close with the | relection of Atlanta, G meeting place for Three hundred and twenty gates, representing twen cotton- | growing states, attended the annual athering. Arizona was the only cotton-growing state not officially represented. | urged that Determination : 3,200 15.61; July, 15.23; (1924), Money 2% per Are essentials to the man who saves money. Yet I how abundantly the habit of saving rewards those who have the intrepidity to practice it. . 3 % ON SAVINGS MERICAN SECIRIT MORE ORDERS FOR STEEL ARE EXPECTED AT ONCE Special Dispmtch to The Star. l CHICAGO. October tions are rylling up that the steel in- | dustry in ghis district will exper- |/ fence great - activity throughout the || present month. For some woeks the l | Money to Loan —or improved D. C. property at prevailing rates of interest. See Mr. Field Hedges & Middleton, Inc. 1334 H ST. N.W. Franklin 9503 17.—Indica- | market has been very auiet, but pro- | ducers say Anquiries are increasing and that thes business for the month | should set a record. The bulk of the business 80 far has been in cars, rails | and. track fawtening from the rall-| roads. v | buud»l-n 60, Car alone are in the| market for 000 tons of steel. Frices are hadc to better levels after the concessionts which have prevailed | recently. Twiao hundred thousand tons of rails ame wanted by the Penn- sylvania road. Inquirics by other roads have ingluded 60,000 kega of | epikes, 30.000 kegs of boits and 20,000 | % oD GPis vintes Warthowss Weceists: 2 Manufacturers' Accounts, DIVIDENDS. Short-Term First Seco: 1 Mortgages or Approved Col- P Stock of ! 'llel:-l. i Hee mate American Finance Corporation Commercial National Bank Bldg. ANY AMOUNT Reasonable Charges om Company bl Austin Nichols & Co. pf... . Q 1% Durham Hos'y pf Q 3175 Lord & Tuylor 1st ~ Q B el % Dec. MartinParry Co. Dec. ARNOLD AND COMPANY INCORPORATED. Capital, $1,000,000.00 Real Eatate First Momtgage Investmants 1416 Eye Street N.W. Phone Main 2434 First Mortgage Loans FOR SALE In Convenient Amounts at 61,9, interest Secured on Improved Properties JAMES F. SHEA 643 Louisiana Ave. N\W. Money to Loan BecureC by first deed of trust on real estate. Prevalling interest and commission. Joseph I Weller £ Mgk T, & Tragt | e’ EQUITABLE| = Co-Operative Building || - : Association ) “When” You Buy a 7% Assets ... .$4,750,763 Surplus .. ....8L307.3: First Mortgage Note | Have you thoughbt what advantage you || Profit By the Opportunity to Save In times of brl;‘p«mv it wise to Loy aside part of your income as an Ffavo you. thoughit what efyante “inergency 'Tand. ‘or o be able to Erasp el oftes Imerin el et oppaxtunities eK mey be preseated nots where you are sbsolutely secured Tater. gainet loss of principal or interest and freive your facome on the date due? No- where in the investment field has such a Tute wnd satisfactory record been mad We, like many others dealing In Firat Mortgages, boast of the wiable record of mever a loss of a le penny in cither principal or ereat. Notes now on hand o amounts of s $100 Up to $5,000 particulars apply Mr. O'Dongell, Loan Dept., M. 1 \“CHAS. D. SAGER || | First Mortgage Loans Lowest Rates of Interest and Commission. Prompt Action sher & Company, Inc. S 15th_Streot Subscription for the 85th Issue of Stock B eing Recelved Shares, $2.50 Per Moath EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSO! WRANK P. REESIDE, 924 14th St. N. FIRST MORTGAGES We are offering a number of individual First Mortgages secured upon improved Washington, D. C., home They have a record for safety extending over a period of thirty years without a loss in either Ouaricr principal or interest to any client of a Centur 1Wsthout They may be procured in amounts oi $250 and multiples and are made ior a period of three years—interest a Loss payable semi-annually. B. F. SAUL CO. Main 2100 1412 Eye St. N.W. Foresight: Patience: ) FINANCIAL £ $3,250.00 Wil Be Your REWARD (In Five Years) _ FOR Your Wisdom in Purch Thousand Dollars Worth of Our FIRST MORTGAGE NOTES (Smaller Investments Pro Rata) & Qualify at once for such a rew every dollar you can secure in our car, notes, secured by first liens upon high-class Waol: ington real estate. These notes carry 614% interest yable semi-annually, upon which basic the abovs ‘reward” is calculated. If you should reinveet vou interest, too, the return would be much larger. i d by investing ully sclected Phone, Write or Call on Our MORTGAGE DEPARTMENT for Further Information Don’t Procrastinate—but Act Now [SHANNON - & LUCHS 713 14th St. N.W. Main 2315 Invest Your Savings in Safeguarded First Mortgages They offer yo 1. Absolute Safety. 2. Liberal Income. 3. Prompt payment of Principal and Interest when due. 4. Protection against Depreciation. All our Mortgages are secured on in-town Modern Homes in Northwest Washington. In Denominations of $100 to $5.000. Call, phone or write for Preferred List. .2 Rusk Conpany Furst Mortgage Loans In Convenient Denominations For Investors Interest 6v5% N2 Fifleenth Strect Commerce and Baving East W Security Sa Seventh Street. United State; Washiogton Mechanics. American Corcoran Firemen's SAVINGS BANK. county on November 18, 1922.” Accord- ing to Coffee county officers, L. S. Rogers killed his brother by shooting him through the head with a pistol and buried his nude body with part of a quilt wrapped around the face in a cornfleld. He, according to the officers, then reported that his brother had deserted his family. hington. & FIRB INSURANCE. National Uiion. . BROTHER SLAYS BROTHER. Columbia Real Estate Titlc. Columbia Graphophone com. Columbia D. C. Pap 8 A Merchants' Transfer & Storage. 100 Mergenthaler Linotype Dutch Market com. . 014 Dutch Market pfd Lanston Monotype. Security Storage. Washiogton Market.. Yellow Cab. *Ex dividend. 0'd KANE, Pa, October 17.—Leslie Hanna, ’ thirty-seven, was shot to death by his brother, Stickles, thirty- two, in_their home in Golfoyle, near here. The shooting occurred shortly a‘!ter ‘the brothers had returned from chure! i#1TWO0 DIE IN TUNNEL BLAST. BOLOGNE, October 17.—Two work- men were Kkilled and many wounded, .| four seriously, by an explosion in a 11222V tunn=l under construction on the rail- way between this city ana Florence. TITLE INSURANCE. b MISCELLANEOUS. Graphophone . pfd. r pfd. 108 14 AAND TRUST COMPANY o 15th and Penna. Ave. Capital and Surplus, $5,400,000.00 BRANCHES 7th and Mass. Ave. N.W 8th and H Streets N.E. 436 7th Street S.W. 1140 15th Street N.W. Central: Northeast* Southwest : Northwest : BUILD ON £ FIRM FOUNDATION ISE investment has played an important part in the career of every successful man. A portion of your earnings placed in a safe and prof- itable investment, will form a sound foundation for success and financial independence. MITH SAFEGUARDED FIRST MORTGAGE BONDS are a good investment for your funds, because— They are secured on improved income- " producing property in a locality of proven demand. They pay 6% and 7 per cent interest. They are further safeguarded by our record of half a century of uninter- rupted safuty.. q SMITH BUILDING Call, Write, or Phone— Main 6464 For Full Information CJis F.H.SMITH CO. bnondd 2573