Evening Star Newspaper, November 6, 1923, Page 24

FINANCIAL, REASURY ISSUES CALLFOR FUNDS National Banks to Pay in 15 Per Cent of Recent Cer- tificate Sale. Secretary of the Treasury Mellon has called on national banks of the country to pay into their regional . members, not later than Thursday, | 15 per cent of the proceeds of the September 15 sale of United States| certificates remaining on deposit with | national institutions. | The call will take from federal reserve depositaries approximately | $19,818,800, leaving about $112.306,700 on deposit to the credit of the Treas« ury. The certificates are of six months’ maturity and bear interest at the rate of 4§ per cent. With the cur- rent call, 391 per cent will have been returned to the Treasury. Bell Bonds Demand Pleasing. Success of the American Telephone and Telegraph Company issue of £100,000,000 of 5% per cent deben- tures, offered to the public yestgrday, while causing no surprise in the finan- | cial districts, where the excellent character of the company is well un- derstood, was, nevertheless, ¢ terized as a_gratifyi of the healthy condition of the vestment market. Offering of bonds was made last aturda the books w not offi 11 until yesterday at 10 o'clock closed at noon, when subscriptions had been r i for bonds greatly in excess of the amount offered. The offering furnished the rigld test of absorptive capac investment mar t s been to for some time, and deale ed themselves as well sat the ri 1t. The consen: is that the issue was well distributed, and there is little evidence of appre- hension that any considerable amount | of bonds will be left on hand. : Bond men feel that the issue w fairly priced at 98%. That no cial price inducemen were n doubly emphasize the significance of the hearty reception accorded the is- sue by investors. Lectures at Institute. The week's schedule of the Wash- ington Chapter, American Institute of Banking, is as follows: Tonight Francis G. Addison, jr., will lecture on “Paying Teller tomorrow night, R: will deliver the fifth and final lecture on “Contracts.” On Thursday night Prof. F. J. Donohue will ad- dress the economic class on “Business Enterprise.” and on Friday night Carl V. Starkloff of the Drovers and Me chanics’ Bank of Baltimore will lec- ture on “Bank Loans—Investments. STRINCHOOSG LAV SUECESSOR British Interest Focused on Election, With Churchill Most Discussed. £ confir most ¥ the abjected express- sfied with of opinion | By the Associated Press. LONDON, November 6.—Interest in domestic politics is focused on the rep- resentation of the Glasgow central atvision in the house of commons, for a successor to the late Andrew Bonar Law is to be elected forthwith. A report that Winston Spencer Churchill has received an invitation from local liberals to become their can- didate has caused a flutter in official quarters, as the invitation apparently Involves an attempt to reunite the two wings of the party—the Asquithian and the Lloyd Georgian groups. The invitation is said to have come from the Asquithian side View of Politicians. Some politicians say that Mr. Churchill’s candidacy would be likely to result in the co-operation of the two liberal wings in his support, while others say it would stress the cleavage and would inevitably lead to the nomi- nation of an Asquithian candidate to oppose him. He is an adherent of the Lioyd George faction. A third opinion Js that Mr. Churchill would be unlikely to contest for a seat in the Glasgow central division, where the liberals made a feebls showing in the last election. Their candidate polled a vote of 2,518 to the 15,437 ballots received by Mr. Bonar Law. The stir created by the suggestion | of Mr. Churchill's candidacy is part- 1y due to the opinion in some circles that Mr. Asquith has lost hold of the liberals through a lack of energy: that the distrust of Mr. Lloyd George by the independent liberals Is uncon- auerable, and that Mr. Churchill is the only man qualified to reunite the party. | Conxervatives Lagging. The conservatives have not yet chosen their candidate for the central | Glasgow seat. Labor's representativ will be F. R. Matchell, a lawyer, whe ran fairly close to Mr. Bonar Law In the last election when labor captured ten of Glasgow's fifteen seats. The | laborites contend that Mr. Bonar La personality was largely re- sponstble for his victory and they hope to add the central division to| their string of Glasgow pearls. TWO YOUTHS ARRESTED AFTER DANCE HALL ROW Both Charged With Carrying Liquor—One With Assault on Policeman. Charges of assault, transporting lquor and breaking glass on_the street were prefererd against Keith Gaines, colored, 1524 Marion street, arrested last night by Policeman Kel- lum of the eighth precinct in a dance hall_near 9th and U streets. Robert H. Young, colored, 1714 10th street, arrested at the same time, was charged with transporting, disorderly conduct and breaking glass on the street. Kellum was called to the hall be- cause of prospective trouble with the young men, according to the police, and each of the men placed under arrest was alleged to have had a small bottle of liquor in his posses- sion. Gaines is allezed to have struck the policeman with his fist while on the way to the station. SHEA HEADS LAW CLASS. Chosen President by Georgetown Juniors. Walter M. Shea of Ohio has been elected president of the junior class at the Georgetown University School . of Law. ] Other officers elected were: Martin Whalen of Connecticut, vice presi- dent; Harold T. Hanley of Ohlo, sec- retary; Joseph E. Maroney of Illi- nois, treasurer; James McNamara of Massachusetts, sergeant-at-arms, and J. T. Spelman of Missouri, historians [ The stock | previous month's {lons, a decreas PLUSH MILLS WILL RUN NIGHT SHIFT Demand for Auto Robes Helps Business—Worsted Plant Also Busy. Big Special Dispatch to The Star. SANFORD, Me., November 6.—The Sanford mills here will put on a night | shift immediately, and the Goodall Worsted Company, which has been on a four-day-a-week basis, will ‘resume full time-operations shortly. The for- mer mills make automobile robes and plush fabrics for automobiles and fur- niture and artificial leather. The lat- ter produccs mohalr serges, draperies, upholstery cloth, ,Falm Beach clo; and worsted yarn ISENTTIRKEYS NOW POSSBLTY Lower Thanksgiving Prices Than Last Year Predicted in This Vicinity. BALTIMORE ovember Po bility of 4 ent turk Thanksgiving in Baltimore and neigh- boring cities is n Ly one of the st poult dealers here. The dealer said: “There s ms to be a plentiful sup- ply of tur this year. and the in- dications are the pri for th Thanksgiving holiday will be 10 cents lower than now. They are 55 cents a pound today. The supply : ¢ fact w or raising turkey uraging from all over ¥ good. largely have had idea Reports are th countr. Other d pearance were ‘more ments. - At one commission hou: mitted good reports regarding keys were coming from the that Virginia f on hand, had lost a number of birds. Another dealer said: “From what we understand ther a right fair crop of turkeys. but it's too early definitely what the Thanksg price will be. It depends on the r ceipts and the demand.” alers, though admitting a indicated good suppl guarded in their stat e it was ad- tur- . but ather Workers Display Surprising Finan- cial Status, Banker Declares. By the Associated Pre: CHICAGO, November of the 100,000 owners of Ar Co. are emplc 40,000 of whom sub- scribed for 50,000 shares of stock dur- ing the past two weeks. So eagerly have the workers taken advantage of an opportunity to get an interest in the business that the company has been forced to withdraw today its offer of preferred stock, F. on White, president, announces. le plan offered on a de- ferred payment basis was opened Oc- tober 24 and nber 10 had been set o was to be withdrawn Day laborers, truck drivers and o fice workers displayed a surprising financial status, Arthur president of the Continental and Com- mercial National Bank and a director of the company, said. GASOLINE DECREASES 81,000,000 GALLONS! Gasoline stocks on hand at refiner- ies throughout the country October 1, amounted to 972,694,832 gallons, a de- crease of 81,000,000 gallons from the report. tion in September was 623,732,824 gal- gallons over September, c de mand _of gasoline 655,387,616 gallon 000 gailons less t < 147,000,000 gailons more than for § tember of last year. The bureau estimates the present gasoline accumulation to represent a surplus of about 8 per cent over the normal gasoline supply for the en- tire country at this date for the past seven years. RECORD MAIL ORDER SALES. CHICAGO, November 6.—Gen. Rob- ert Wood, vice president of Montgom- ery Ward & Co.. savs that last month the company did_the largest busines in its histo He sa “We esti- mate our sales this year will exceed last vear's by $40,000,000. We will do about $135,000,000 gross business. We expect present volume to con tinue throughout this and next vear.’ RUBBER PLANT TO OPEN. ALPINE, Tex, November 6—The rubber factory at Marathon, Tex., es- tablished fifteen years ago by New York capitalists and said to be the only one of its kind in the United States, will be reopened within a short time by the Continental Rubber Com- pany, according to plans. It manu- factures rubber from the wild gua- yule shrub. POTATO MARKET. CHICAGO, November 6.—Potatoes— Barely steady; receipts, 96 cars; total United States shipments, 761; Wiscon- sin sacked and bulk round whites United States, No. 1, 1.00al15 cwt.; poorly graded bulk, §0a90 cwt.; Min- nesota and North' Dakota sacked round whites United States, No. 1, and partly graded, 90a1.05 cwt.; bulk, 80a ; sacked Red River Ohios, 85a South Dakota bulk round whites, 'partly graded, 85a5 cwt.; sacked early Ohios, 80a30 cwt. RADIO NEWS John Basset Moore, editor of the Advocate of Peace and American rep- resentative to the Hague tribunal, will address WEAF’s audience Thurs- day on the world court. Radio Editor: As it would seem advantageous to get as many radio fans on rec- ord as possible on the “silent night” controversy, I wish to ex- press my concurrence in Mr. God- frey’s comparison of a silent night with a highway closed to public traffic for the speedsters’ con- venience. The silent night advocates own & “middle class set”—they consid- er it too-good to be devoted to re- ception of local programs, and it is not good enough to tune out lo- cal QRM and tune in the program they desire to hear. Let them ‘buy or make a selective tuner, or continue to tune in their distant stations after the local station has signed off. Mcanwhile let us applaud the successful efforts .of the local broadcasters to give us better and better programs all the while, and assist them actively with our written appreciation and by any other means they may suggest. H. B. R. 5 Produc- | THE EVENING STAR, WASHINGTON, D. CANNING RECORDS BENG SHASHED Can Openers Put Damper on Cooking, Year’s Packing Figures Indicate. BY J. C. ROY Special Dispatch to The Star. NEW YORK. November 6.—"“They are training people th days to wield can openers and not to cook.” That is the way one lagge cannery accounted in part for the record packs this year or practically all green goods that are sold in tias or con- tainers which now are reddy for the tables of the nation. The meeting of the executive and finance committees and the bee rd of directors bf the Na- tlonal Canpers' Association, in Chica- g0 brought out the fact foday that the packs this year will exceed the record valuation of $1,200,090,000 es- tablished in 1922. Onl W years ago the greater part of thése fruits; and vegetables were bought and eat- en only in season. 14,000,000 Caxes of P A ‘striking example of theé growth of this industry is shown b ures of the pea pack. In 1 000 cas of twenty-four were put up. Last year the t bout 14,000,000 cases and this year | present indica £ e H tion of 14, | years ago a pack of 13,000.000 | as would have Zmashed | rket and ruined id Frank Shook of the nat SThis vea fill the d 1 ym a score 4 that while it figures, 5 0o | would % a Probleni. packers deliberated today t method of co-operatirg with 1 officials in complying With an old rule, long unapplied but now again in force, prohibiting the re- turn of spoiled goods to canmers by jobbers and wholesalers without add- to production costs and sales fede plan propos Aling these goods | fas “swells” involved the establish-| ment of central warehouses .where | such goods could be examinad by ! te or federal officials, ked up ers and then de nd government interested in s to prevent uns from putting slightly maged goods on the market at in prices. One of the significant | nnouncements for the canned goods ! trade made at the meeting was that | urplus war stocks at last have been | { practically absorbed. | Heavy Advertising Approprintion: | The appropriations for national | vertising in this country during vill exceed $700,000,600, according to George Klelser of San Francizco, head of a large advertising agency, whe has just completed a tour of the east-and | middle west. “Business will be both- iered by less retrenchment during 1924 than “in any previous presidential {year.” he added. “Busness men are jactivity in developing future sales distribution of goods.” < made himself responsible | statements that Henry Ford | had set aside $7.500,000 for advertising | ipurposes and that the Quaker Oats | would spend an equal amoint | dvertising in the coming yéar. | |Pne-tenth_of the country’s appropr tion, or $70,000.000, he declared, would nz in Califorria, be- and showing decided and tween magazines Trading in Rice Future. Scores of rice growers and millé from all the southern v i { that stapl { to lend th jof the r support to th trading in e future Louisiana sugar and rice change. This is the only market of | {its kind in the United States, and it | is the hope of its promoter: planters that it will bring Ht.nbllil.\| | to the rice market. The short crop | of rice in Louisiana, Arkansas and { Texas and the active demand for the clean product are counted on to stim- ulate trading. Prices in the trading | { 50 far have been very firm at a level bout 1 cent a ,)uun'l above those of last year. Producers are getting about $§1 barrel above the 1922 price, there is an expectation expres | that _this season’s crop will pla them on their feet again financially MOSTLY SMALL BUYERS.: New York Bankers Surprised by Kind of Sales. 3 NEW YORK, November 6.—Thé new American Telephone and Tele< raph debentures were placed largely: ¥\with small investors. Dankers ex- {pressed surprise at the large number {of small orders received, which madé up for the loss of insurance company. buying. Salesmen in one bank brought in more than 300 orders for the debentures in one day. i VICTORIA, SAYS DRIVER. Horse and Carriage Attract Wall Street’s Curiosity. NEW YORK, November 6.—A horse and carriage, with liveried coachman and everything, standing outside the offices of J. P. Morgan & Co. yesterday. probably attracted as much attention in Wall street as did the first automo- bile. ‘The question arose among curious bystanders as to just what the contraption was called. One called it an open barouche and an- other a chaise. Finally it was decid< ed to ask the coachman to settle the question and he said it was a victoria. It belonged to an old customer of J. P. Morgan & Co., who had never for~ saken the horse for the automobile. The coachman said he drove into Wall street about once every two years. OIL MERGER PLANNED. Continental Expected to Take Over Mutual’s Interests. DENVER, Col, November 6.—Ne gotiations "are under way between the Continental Oil Company and the Mutual Oil Company for the purchase of the Mutual by the Continental, C. E. Strong, vice president of the Con- tinental, said today. Mr. Strong declined to reveal any of the terms of the proposed deal,’and said_that the proposition had’ not! reached the stage where a _definite statement could be” made. He said ! negotiations probably wiil be con- nued. ES —_— BANKERS OFF FOR EUROPE. NEW YORK, November 6.—A large number of prominent Wall street men are on the list of travelers sailing for Europe. On the Majestic Saturday were P. A. 8. Franklin; president of the International Mercantile Marine Company; W, A. Harriman, chairman of the United American Lines; How- ard E. Cole, secretary and director of the Standard Oil Company of New York; Hayden B. Harris, vice pre dent of the American Foreign Ban ing Corporation, and Wendell Endi- cott, a director of the Chase Natfonal Bank. Most of them are going abroad to study business couditions. N { for, { ha I i““ry' BABSON PREDICTS BOOM™ IN AIRCRAFT INDUSTRY According to all current statistical indications, the afrcraft industry may assume almost amazing proportions during the next twenty years or even in the next decade, says Roger W. Babson, writing in Aeronautical Di- gest. Of course, the world war gave flying a great start, but unlike most other war-stimulated industries, the aircraft business has maintained con- siderable of its growth in the years since the war. This is a good sign. It means that fundamentally the in- dustry Is meeting a real need—which is for more rapid_transportation, At the rate of growth that has been shown in the past ten vears, there will be as many people in the alreraft factories twenty years from now as there are now émployed in the automobile factories. It would not surprise me if more than one hundred thousand aircraft per year would he the production two decades from today. It is altogether possible for this industry to Show just as spectacular growth as the automobile industry has shown. That public patronage Is rapldly growing is shown by the statistlcs for 1920 and 1921, when 115,163 pas- sengers and 122512 passengers were carrfed In those respective years. When we consider that before the war hardly any one would step foot in an aeroplane, this growth of public con- fidence is remarkable i Grain, Produce and Live Stock LOCAL WHOLESALE MARKET. Sloppy weather this morning made buying slow. There was no scarcity of supplies, dealers said, but the bad weather made the number of buyers small. Green vegetables plentiful at pri considered rea- sonable. n corn has become scarce and high, buyers displ ng willingness to pay almost any price hoice stock. Fruits are in abundance melons taloupes are done for. but ca and hon taking their pla reasonable. Peac) still to be but there is not much demand for them gEs—Strictly per dozen, 5 continue fairly Water- about elected, can- age receipts, Dreéssed poultr: spring chickens, ers. per Ib., 30a35; hens turkeys, per 1b., 40a50; o each, 80a85; roosters, per Ib.. 21a2: Live stock—Calves, choice, per Ib.. 12; medium, per Ih., 11; thin, per Ib.. 8al0. Lambs, spring, per Ib., 13. - Live Digs, 3.00a5.00 each; live hogs, per Ib its—Apples, new, per bas- California oranges. per . 6.00a7.00; Florida, 2.50a4.60. Lein- Der box, 3.00a1.00. Grapefruit, 3.50a Grapes. ' Concord, v-pound ket, 75a1.00; two-quart basket, 22%a honeydew melons, 75a1.50. Vegetables—Potatoes. per bbl. No 1. 2.75a3.00; No. 2, 1.50a2.00, Potatoes, round, per’bag, Z.50a weet pota- toes, 2.50a3.50 per bbl. Southern lettuce, per crate, 50a1.00; nearby, 50a1.00; lee berx, 4.00a5.00. Cabbage, northern, 1 a2.00 per 100 Ibs.; nearby, 1.00a1.50 bbl. Tomatoes, half-bushel basket, nearby, Beans, southern, per basket, Peas, per basket, 3.30a5.50. sw_York celery, per cr: Wi vn lima beans . beans, per basket, CHICAGO LIVE STOCK MARKET. CHICAGO, November 6 (United States Department of Agriculture Hogs—Receipts, 42,000 head; uneven mostly weak to 10 lower; bulk good and choice 0 to pound butchers, .40; top, pound _average packing sows, £.40a6.65; better grades weighty slaughter pigs, 6.00. Cattle—Receipts, 12,000 head: most killing ¢ dy; bulk short fed steers, 7.0 ate sprinkling long fed, some weighty 11 conditio rs early. 11.00; light yearlings. 9.25a10.23; stockers and feeders active, strong; other classes about steady: bidding, 9.50 on 16,000 head; ac- higher on fat < and feeding lamb: ady to strong; most 13.00; cull natives, good fat yearling wethers fat ewes, 4.50; medium 11.85. lambs; cull nativ steady; sheep s fat lambs, 1 9.50a10.0 10. feeding lamb. TODAY'S CHICAGO PRIC] CHICAGO. November 6.—Fresh de- clines in the wheat market today took place during the early dealings. Scat- tered selling continued on the part of holders who had given up hope of special aid from the government at ‘Washington. There was still some talk that the wheat tariff might be raised on possible recommendation of the tariff board, but buying support for the market was limited until prices had fallen nearly a cent. a ushel. The opening, which ranged from %a% decline to a shade ad- vance, with December 1.05% to 1.06% and May 1.10% to 1.11, was followed by a setback all around. Corn and oats were relatively firm as a result of scarcity of offerings and because of disappointing husking returns from lowa. After opening un- changed to half cent higher, Decem- ber, T4% to 4%, eased a little, but soon rallied. Oats started at % off to a like ad- vance, December 41% to 41%. Later the market held near to the initial range. Provisions were easy hog values BALTIMORE LIVE STOCK. BALTIMORE, November 6.—Cattle Receipts for the week ended at noon sterday were 3,165 head, against 4,449 head last week. Receipts, 129 carloads for market for the week. Market steady; greatest strength on best_grades. Steers—Choice, 9.00a9.50; good butcher, 8.00a8.75; medium, 6.25a 7.2 4.5085.50. Heifers— Choice, fair to good, 5 6.50; common to medium, 4.00a5.50. Bulls—Choice, 5.0085.50; fair to good, common to medium, 3.00a s—Cholce, 5.00a5.50; fair to ; common to medium, in line with 2.00a3.50. Sheep and lambs—Receipts were 9,640 head, against 5788 head last weck; market slow. Sheep, 1.5085.75; lambs, 7.00a13.85. 3 Hogs—Receipts, 15,075 head, against 22,007 head last week: market lower. Lights, 7.25; heavy, 8.25; medium, 8.00; pigs, 5.70a7.20; roughs.’ 4.50a6.30. Calyes—Receipts, 1,390 head, against 894 head last week; market dull; heavy calves very draggy. Calves, 4.00a12.75; extra, 13.00. OFFERS STOCK TO MEN. ST. PAUL, Minn., November 6.—Em- ployes of the Great Northern rallway may become stockholders through purchase of preferred capital stock on a partial payment plan announced by Ralph Budd, president. Employes may purchase up to twenty-five shares each, and payment may be made in monthly installments as small as $3 a share. This twenty-five-share con- tract may be repeated as often as de- sired. Par value of the stock is $100, and at present the shares yield a divi- dend of $5 annually. —_— LIVERPOOL COTTON. LIVERPOOL, November 6.—Cotton, spot, good business dome; prices steady. Good middling, 19.50; fully middling, 19.30; middling, 18.90; low middling,’ 17.95;" good ordinary, '16.95; ordinary, 16.45. Sales, 10,000 baies, including 5,200 American. = Receipt 27,000 bales, including 18,900 Amer- ican. Futures closed very steady. i December, -18.83 March, 18.58; . May, October, 15,59, 8.35; July, 17.9 f tity the corn market || C., SLK MARKEY ADED BYBG EARTHOUAKE Japanese Dealer Reports Price Upswing Proving of Great Benefit. Special Dispatel to The Star. SAN FRANCISCO, November 6.— The Japanese earthquake has proved to be not without its benefits, so far as the si’k trade is concerned, accord- ing to Z. Horikoshi, one of the largest silk dealers in the orfent, who has just reached here from Tokio. “The Japa- nese silk market was badly disor- ganized before September 1, he said. “The earthquake has delayed ship- ments of silk to America, with the re- sult that prices have shown a decided uptrend. This came at a psychological moment, as there was hoth overproduc- tion and a drop in demand before the catastrophe.” He added that out of the hundreds of silk mills in Japan only one was destroyed, as the others were outside the zone of damage. Let-Down in Orders for Steel Reported ! Dispateh to The Star. PITTSBURGH, November 6.—While production in the steel and iron mills of this section continues at about the same pace as for the last few weeks, there has been a let-down in new orders and business on hand in some plants is Within a few weeks of mill schedules. Independent concerns are working at between 65 and 85 per cent of capacity, while the United tes Steel Corporation is running plants at close to 90 per cent. Th running on the higher schedule are doing so on an accumu- tion of small orders. It is gener- ally expressed belief, however, that the market will hold out to the end of the vear, although some slacken- ing may be apparent in the latter weeks. * Building operations have fallen below the summer peak, but there is still sufficient construction going on to steady the market for building supplies. Increase in Deposits Noted in State Banks 1 Dispateh to The Star. T. PAUL, November 6. — Trade aing throughout the northwest as mpared with last fall are reflected in a 10 per cent increase In deposits of state banks in the Twin Cities. Deposits of national banks have in- creased 3 per cent, but the average gain for all banks in the two cities is 6 per cent. Resources have in- creased correspondingly, savings ac- counts have improved and loans and discounts have diminished Automobile sales have been stimu- by favorable weather and heavy advertising in connection with closed car displays. Employment will be given 300 men with the completion of the new Great Northern refrig- erator car_repair shops, which cost $200.000. These shops will be leased to the Western Fruit Express Com- pany. OIL OUTPUT GAINING. Powell Field Production Greater Than Expected. Special Dispatch to The Star. TULSA, Okla., November 6.—The un- expected production of the new Pow- ell field is bringing new business to the Sinclair and Prairie Pipe Line com- panies. The Humble Oil Company has made an arrangement with the Sin- clair company to ship a large quan- of its Powell product south to Tidewater Oil Company Is rels a day through to its Bayonne, s Spec the gulf. mber 6.—The daily production of oil for the fields last week was 79.660 barrels, a decline of 1,875 barrels. The Gulf Refining Company has restored the price of coastal crude to $1 a barrel, as none of the other purchas ing companies followed the recent Guif cut of 2 Margin of Security We Demand to Safeguard Clients Investing in Our 7% First Mortgage Notes Upholds also our established recora ot never having lost in either principal or interest as much as a single penny. ranteed titles and insurance polie! furnished with all notes. Notes of $100, $250, up to $5,000 Now on Hand For full particulars apply 0'Donnell, Loan Department. CHAS. D. SAGER 924 14th St. N.W. Main 36. Money to Loan Secured by first deed of trust on real estate Prevailing interest and commission. Joseph 1. Wellei gg.'__'-;g_- EI& T the Banker’s Way | 49% of the entire assets of the Savings Banks of the State of New York are invested in Real Estate Mortgages. Bmk‘m are recognized as ialists in momey. 2 :Eelr faith l'(‘o the rype?ll;l: vestments we offer. Can you do better than to follow the lead of successful Bankers? Our new booklet, “Intelli- gentInvesting” will show you the way. WASHINGTON OFFICE 26 Jnckson Place * Tear off this Coupom—Mail today | sl Sy Gentlemen:—Pleage send me your Free booklet, Intelligent Investing. Name...cooenacenan TUESDAY, NOVEMBER 6, 1923. | COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PHILADELPHIA, November 6.—The three hydraullc penstock valves now being made by the Cramp Ship and Engine Company here for the Niagara Falls Power Company are approach- ing completion. They will be the largest of their type in the world. PITTSBURGH, November 6.—Bitum- inous coal production in the centrai Pennsylvania region dropped to 62,000 cars in October, as compared with 68,000 cars in September. Some of the large operators are planning to close part of their mines, so that the rest may be kept on full time. SEATTLE, November 6—The total pack of Oregon and Washington can- ned fruit and berries for 1923 is esti- mated at 4,000,000 cases. This is 10 per cent larger than the 1922 pack. Buying by wholesalers is conserva- tive, especially in farming communi- ties. The pear pack of the Pacific northwest s now being completed and will be less than last year, owing to lack of demand from Europe. NEW ORLEANS, November 6.—Or- ders at Southern Pine Association mills last week increased 2.8 per cent. Production decreased 2 per cent and shipments increased 5.7 per cent. KANSAS CITY, Mo, November 6.— With few exceptions, millers report hard wheat flour sales exceedingly light. Shipping instructions on old bookings are slow. GALVESTO; ember 6. —Oyster beds along the gulf coast of Texas and Louisiana are reported in better condition than at any time In the last ten years. ST. LOUIS, November 6—Hog re- celpts at the national stock yards in October amounted to 479,208 head, a record for one month’s movement. The previous high was established in January, when 453,481 swine were marketed. FORT WORTH, November 6.—Cot- ton picking has been retarded in this state by the unprecedented rains. The large returns from cotton, so much heavier than anticipated, and the high wages paid field laborers for gathering the crop have been reflect- ed in a betterment of trade in retail and jobbing centers. LEE SEES PROSPERITY. PITTSBURGH, November § (S cial).—Elisha Lee, who succeeded Col, McCrea as vice president of the cen- tral region of the Pennsylvania rail- road, with headquarters here, de- clares that all indications point to prosperous times. He says there is no car shortage at present. and that the railroads have ample facilities for moving all tonnage. TALK STRAWBERRY POOL. CHATTANOOGA, Tenn., November 6. —A movement |3 under way to\organize a co-operative body among the Ten- nessee strawberry growers large part of whom are in the Chattanooga region. The Tennessee farm bureau sponsoring the organization. Pe- riod. Rate. Q 1%% Company. Am Beet ‘Sug pf. Am Tel & Cables. Fire T&R 7% pf. Harbison W Internat Shoe pf. .. Manhattan Shire Pitts Plate G Schulte Ret $t4_04 of Tnd | FOR INVESTMENT FIRST MORTGAGE | LOANS Denominations $100 to $6,250 Interest Rates 6,% and 7% All loans secured on modern homes and busi- ness property in best northwest sections of the city. Ask for Information MORRIS CAFRITZ ortgage Department kX 913 15th St. NN\W. Main 617 able. Dec. Dee. Nov. 15 Ttecord, De | We Offer for Sale . FIRST MORTGAGE LOANS Bearing 61,9 Secured on HOME PROP- ERTIES at less than one- half of valde. This Is the Safest Possible Security Gunaranteed Title Investment from $500 upwards Waggaman & Brawner, Inc. Franklin 7485 732 Seventeenth Street N.W. B. F. SAUL CO. 1412 Eye St. NoW. EQUITABLE Co-Operative Building / Association Organized 1879 434 YEAR COMPLETED Assets ... 84,750,762 Surplus .. -$1.207,281 Save Systematically P e e e o ation"to' 16 Join'The Equitable. Subseription for the 85th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. lcentimes. FINANCIAL. COTTON CROPS CROWD CATTLE FROM PLAINS FORT WORTH, Tex., November 6.— The cotton farmer is crowding the rancher off the plains of west Texas. Every day the surveyor and the fence- builder are cutting up the big pas- tures that once accommodated thou- sands of cattle and preparing them for the farmers. It is estimated that 1,000 new farms were opened on the plains of Texas in October. The experiment this year with cotton is bringing about the change. Further pioneering by farm- ers is looked for in spring. Ranch- men are moving their herds into the fastnesses of the Davis mountains or are preparing to go into Mexico, HUGE GRAPE SHIPMENTS. California Has Already Sent Out 44,000 Carloads. Special Dispatch to The Star. SAN FRANCISCO, November 6.— With 44,000 carloads already shipped, grapes are still moving out of Cali- mornia at the rate of 500 cars a da Shipments are expected to cease this week, however, as the season is reach- ing the stage when grapes cannot be shipped long distances without spoi ing. To this date last year only 38,122 cars had been moved. JAPAN BUYS STEEL. Large Orders Prove Big Help ‘o Business in Pittsburgh. Special Disgateh to The Star. PITTSBURGH, November 6.—Heavy Japanese buying of sheet steel in Pittsburgh for reconstruction work in the earthquake devastated reglon is influencing the industry here. The Ja ese orders are coming in dail ranging from 500 to 1,000 tons ea at $100, plus, a The Steel Co poration and ndependents sharing the business. From 50000 to 100,000 sheets have been sold to freakish by of the orders are 1 cated to the Pittsburgh tons Japan ing allo- teel area. PARIS MARKET UNEVEN. PARI ovember 6.—Prices moved irregularly on the v.Three per cent rentes, Exchange on London, Five per cent loan 20 centimes. The at 17 francs dollar w centim are COTTON FUTURES GOSTILL HIGHER Highest Prices of Season Due to Weather Reports Reach- ing New Orleans. By the Associated Press. NEW ORLEANS, November 6.—Cold weather in the belt and a much higher Liverpool market than due put the price of cotton to new high rec- |ords for the season today, the active | months rising 24 to 33 points in the | first half hour of business. December reached up to 3277 cents a pound. | Much buying was stimulated by re- { ports from Oklahoma that continued cold weather would make bollles out of most of the cotton remaining in the field. Opening quotations wer 32.70; January, 32.65; 32.56; July, 32.10, S TODAY’S BUTTER PRICES. November 6.—Butter, creamery, extras, 51%: stan extra firsts, 49a50%; firsts, 4435a46%; seconds, 42a43. Eggs unchanged; recelpts 6,110 Decem- March, DIVIDEND DECLARED. CL] LAND, Ohio, November 6.— Directors of the American Multigraph Company yesterday declared a regu- lar quarterly dividend of 40 cents u | share on_common stock, payable De- cember 1 to stockholders of record November 1 EX-DIVIDEND TABLE. | November 7— Central R. R. of N. J., a.. | November 8- | Continental Paper and Bsg, q.. ontizentsl Paper and Bag pf.. q onsolidnted Gas, q...... Grent Lakes Dredge & Dock, q ovember 69— oods, q oods 18t Gods 2 £2.00 1 n Campbell Cleve, & Pitts, R Cleve. & Pitts. R Colorado Fuel & fron pr.. q seneral Development Co., q- ON FIRST MORTGAGES AT CURRENT RATES OF Randall K Hagner & Ca 4207 Gnnecticat (Beenvue We Offer: Telegraph Twenty-Year Telephone American Telephone and 5Y%9% Gold Debenture Bonds Dated November 1, 1923—Due November 1, 1943 Price 981/ and interest, to yield 5549 Crane, Parris & Co. 823 15th St. N. W. Company Sinking Fund Main 593 Capital & Surplus, $2,000,000.00 Sending Us Your Deposits BY MAIL —saves you valuable time and all the inconvenience of a trip in downtown congestion. f We supply all necessary sta- tionery for depositors desiring to Bank By Mail—promptly acknowledge remittances. s Same rate of Interest Paid on large and small accounts— Deposits invited in any amount. National Savings & Trust Co. 56th Oldest Savings Depositor; Cor. 15th an Year in Washington New York Ave. Choose Your Investments With Care A COR DIAL INVITATION " SHANNON & LUCHS MORTGAGE DEPT. 713 14th St. N.W. Main 2345 CALL, WRITE OR PHONE OUR MORTGAGE DEPARTMENT FOR INFORMATION ABOUT THE SAFEST AND BEST WAY TO INVEST YOUR MONEY