Evening Star Newspaper, November 18, 1923, Page 37

G F‘INANCI'AIJ._ al Banks to Pay $3,000,000 On Christmas Savings Accounts PREESHILD R [PAnGE_or anner Year for Thrift—Wicketless Win- IN WHEAT TRADIN{; ... dows in New Bank—Prices of lLess Worry in Grain Pit Over Unlisted Securities. Foreign Situation—Corn’ and Oats Off Slightly. to tail. The partitions between the | eages will be very low also, and made of glass, instead of the traditional| CHICAGO, November 17.—Althou copper wire work. et uusual feature of the | Wheat showed something of a down- bank will be meeting rooms, where|ward tendency at times today, final loctures of finance and investment [ quotations were up agath to almost club funds. The majority of the) \COOUTEE B T ustomers and in- banks will start making their pay-|terested friends. The speakers will :"‘“"y the ssme as twenty-four ments on December 1 e ofieinis and noted economists. | hours before. The fact that a split . il eces * lubs_ are the| . The building ftself Will be of classic { between France ana England had hristmas savings clubs ! character and complote in every way | poon 0y oo TEL IEIICL G most popular and, at the same time,) ¢, meet the requirements of mod‘firx war' 4 steadyine Infinence wh“" 5 8 savings. | b 1 3 It will occupy & 0 & S noat profteye foey OF o L b five” fect and |closed firm at yesterday's finish to feet in height andly gnage Jower, December 1.01% to It 1s a force that assures ready money | elghty-two by eighty during the holiday season, and at the | WHI be_ seventy feet I T S0 Wit : .- e sows the seed of thrift, as|be stores on, the ground floor and 1;'"%«:1-01%. and May 1.07% to 1.07%. been estimated that only three- | above them will be the banking room [ Corn finished %a% to % cent down, 5 . al of Wash. | and two meazanine floors, and its en- | oats at 3% cent decline to a shade dusceery fof B met ot 0 and two mexzan\ill place It in the{advance ana provisions unchafiged to ingtomw clubs gre spent front ranks of the most elaborate|a setback of 10 cents. banks of the country. l":V l‘lh s:’ar{unghexvhanxe d‘t lnhn!l‘, dx. ow record for the year and with the Bank Must Pay Tax on Bentt: lduys carller advices showing the The Des Moines National Bank | Rranco-British entente near to_the second b that the Jecided | Preaking point, sellers In the wheat Suprem ‘“:' the right of | Pit had an advantage at the opening, O ened | #nd most of the buying was restrict- this suit the bank | €4 to shorts. Some renewal of from taxatlon on |Preading operations between Winni- bt o O ind Stock in | Peg and Chicago, with the buying end Tederal ve bunk. In assessing |#t Winnipeg, was also a bearish in- foderal reserve Dan egate of the |fuence here. Subscquently, however, Apital, surplus and undivided | the outlook for continued political co- | A ts whs taken 4s the value of the |OPeration on the part of London and Piares of stock; from this the amount | Paris scemed a little more reassuring ctually invested in real property |#nd surplus offerings of wheat here iWas deducted. A portion of the re-|Wwere fully absorbed. " maining part was attributed to each| The nurrowness of the range . of Shive wheat prices today, 1 to % cent, was About a vear ago & similar declslon [ commented on in Some quarters as was rendered against the People's | Sugesting that bearish factors had National Bank of Kinkfisher, Okla.,|been discounted perhaps in full. Ac- When the lutter appealed against a | cordingly, some of the late buying Fuling of the board of equalization of | Was sald to have been based on the Kingfisher county. assumption that any change in the The power of states to tax liberty | market outlook was likely to develop bonds has been questioned by few |in favor of the holder of wheat, Fur- banks. This power has been exer-|ther imports of Canadian wheat, duty cised by New York and has not|paid, were seemingly oftset by talk been challenged. The law in this[of a higher tariff soon. state provides that a corporation | Fine weather and increasing re- must pay a tax for the privilege of | ceipts of corn tended to weaken the | doing business within the statc. 1Infcorn market, and so likewise did hog leffect it is really a corporation In-{cholera news which was current. come tax, although it is known as a | Scantine arrivals helped “franchise tax." steady oats. Local Seewrities Prices. Packers’ selling acted as more or ‘onfidence in the genmeral public| The following latest “bid” and|less of a welght on provisions. L wish on the part of officlals to | «asked” prices for unlisted securities & to the customers freely an clon the ngton Stock E o o AMERICAN CLOTHES PLEASE JAPANESE f > the reasons for thelare quoted for the guldance of hold- r windows which are|ers of these securitie *:| Commerce Department Sees Chance for U. S. Firms to Get 1 the new building of the New Business. Yederal- ational ~ Bank, g0on 1o he t the corner of 14th and (+ streets northwest. Lven previous to the earthquake there was a small market In Japan for ready-made clothing of the better n announcement made yester- = Alfred C. Bossom, New York | yiefropolitan Cib 4% grade, and among well to do pur- 4+ | chasers to whom price 1s not an im- Al bour. will ha O [ s construction, this is the first time | cnocin o w ban s been de- 4 on portant factor. The Japanese is by nature neat in his attire, and the well made and earefully designed Ameri- can suits appeal to many, espectally to those who have been abroad as students or travelers, says Commer- cial Attache James F. Abbott in a re- port to the Commerce Department. A large quantity of American clothing has been sent to Japan by the Red Cross relfef, and it is thought that the greater famillarity with Amerl- can styles and quality in Japan will result fn an increased demand for these goodsa. 1t manufacturers of well known American brands were to place an !agency in Japan with an active, pref- erably American company, and_ sup- Dly & personal representative for & perfod of six months or longer, it is thought it would be found profitable to carry an advertising-by-mail campalgn, using catalogues and fol- low-up_letters to a eelected list of prospects. There is also a certaln limited field among the Japanese de- partment stores, who carry high- class goods and cater to a purchasing public that is accustomed to paying {well for what it wants. | "More profitable yet might be the es- | tablishment in eome part of China, preferably Shanghal, of @ branch fac- tory of an American clothing com- peny under American supervision. —— COST OF RUNNING BANKS. $1 for Every $100 in Deposits Held Reasonable Amount. The question of bank expenses and overhead is constantly before the management of every conservative institution and s of special impor- tance, says the Magazine of Wall Street, in those parts of the country where ‘interest rates are compara- tively stable and moderate, and where, therefore, it is not likely that unexpected earnings due to sudden accretions of valuable business will be had. Where competition has re- sulted in the payment of a rate of interest on deposits which is well up toward the maximum of what the bank can spare, the new bank in particular has to use special caution in committing itself to rental charges that will eat sharply into its income. Average outlay of a small bank (per $100 of deposits: For ren 2 General charges, taxes, purchase of equipment, ete. Total Or 1 per cent of deponits. Average salary, expenses (maximum).. Grand total - Or 4 per cent of deposits. Recent studies by compilers of | banking statistics would appear to indicate for small and medium-sized banks a general average outlay run- ning around $1.00 for every $100 of deposits carried, or an aggregate of 1 _per cent. Included in this Is, as already explained, the rent item, which in small or medium-sized cities ordinarily should not exceed about | three-tenths of the total, or $0 cents out of each dollar covering the gen eral group of expenses a&s just out lined. From this it will be con- cluded that a bank with $1,000,000 of deposits ought, if conservatively operated, to be able for 1 per cent of that figure, or $10,000 to cover its general expenses, including ordi- {nary losses, taxation, stationery and rentals. RAW SUGAR HIGHER. Futures Also Reflect Rise in Spot Market. NEW YORK, November 17.—There {was an advance of 1-16 cent in the !raw sugar market today and a little better inquiry was reported for full duty sugars. Prices are now quoted at 7.16 duty pald. Sales included 2,800 bags of Peru's at 7.09 duty pald, and 3,500 bags of Peru's and 2,100 Brazil's, at 7.16 duty paid, all for early December arrival. | Futures were steadler, reflecting | the advance in the spot market, The close was at about the best and i2 to 4 pointe net higher on activ Approximately $3,000,000 will be re- stored to circulation locally within | ths, next few weeks, when Washington hanking institutions will make dis- bursement of their Christmas savings i T of the city matic savings Riggs n National eishborhood of ear, while some institutions large. At this system nd the 01 a 00,000 e of the lar hoast accounts nearly ime only a few Washington banl uthentic figures available. Banner Year for Savings. present calendar year was one in the story of much larger d_clubs than \ institutions went into thix ass of busine on a larger scale than heretofor Washington merchants, of course, rreatest benefits when the smali army of Christmas savings club mem. bers enjoy the fruits of their year of savings, nearly all of which Eoes to make the shopping and gift season merrier for the thrift of the club people. With each recurrent season these vers are doing more and more for their home town trade. rin z as they do a good part of the inual disbursements, about 4 per cent they are held fally worthy of end couragement b Loc: merchants will timony to the wonderful business which they are able to truce directly to the &5 Wicketless Windows in New Bank, the this state to tax lby a bank. In {claimed exemption The banner elubs. anks nd n local opy 6390 A of July, of Solid curve represents 20 compiled by the Wall Street Journal. o be used Bld. Asked Army and Nayy osiios Club 4% mos (1 ity Club Sales. $20,000—C. and P. Tel of Va. b 60,200—P. E. P. 6x, 1953 . 92,000—~Washington BONDS, as €8 4,000—Ana. and Pot. River R.R. 68 56,000—C. and P. Telephone 1st G principle to be placed in draw- ounter and behind the on either side of the ibarred window opening, where it would be difficult for outsiders to it Bank 5 ational Bank . t men b of Heve spirit their t the city bar ny safeguare ! and thieves IS making | Norim 1 winduw unnecess theast Savings Ba the Was Tink In any event of friendll blan will far rixk it may 00—Pot. Elec. Power gen. 6s. ,000—Wash., Balto. and Anna; 46,000—Wash. Gi 2082,500—~Wash, Ry. and Ele . 2 ash. Ry. and Elec. gen. 6s 65,200—Washington Gas 7Ti4s.... 42300—Pot. Elec. Power 7s...... 1,500—Dist. of Col. Paper Mfg. 65 15,500—Riggs Realty (long) bs.. 4,600—Wash. Market Cold Storage & 20,500—Wardman Park 6s. Bhares. STOCKRE, 3,437—Capital Traction hington Gas N. and_W. St 6,106—Wash. Ry. 6,635—Wash. R; 25—Capital ald-up the br o ofticer tion L hink th parted by an o ar more possibly Woodridge & Langdon ses000000000 : OPEN FOR INSPECTION: 7 to 9:30 Tonight—10 A.M. to 9.30 P.M. Sunday b b mboat and Elec. com and Elec. pfd. tional Bank... National Bank. tional Bank. 106—District N: Beautiful Corner on New Hampshire Ave. 21—Libert National ,Bank... 67N, etropolitan’Bank 539—Riges tional Bank. 352—RIg ational Bank rights 637—Amer. Sec. and Trust..... | 389—Continental 36—Natlo: 67—LUnion Trust 45—Wash. Loan 424—Merchants' Bank. and 20—East Wash. Savings Bank. 20—Sec. Sav. and Com’! B R 20—Washington Mechanics’ 46—Firemen's Fire Insurance 100—Columbia Title Insurance. No letter built house in the city, 8 large bright rooms, tile bath, hot-water heat, electric lights. The very finest hardwood floors and trim. An unusual opportunity to buy a corner house. It will pay you well to inspect this wonderiul home. 3601 New Hampshire Ave. STONE & FAIRFAX “Over Thirty Years of \Real Service” 1342 New York Avenue Phone Main 2424 Member Washington Real Estate Board Trust 376—Security Storage . 623—Washington Market ..... UNLISTED §0—American Com. and Savings 80—Banking Trust and Mortgag 260—Citizens’ Savings Bank 87—Departmental Bank ... 8—Munsey Trust 200—Northeast Savings . 46—Dist. Title Insurance. 176—Wash. 9000000000000 0040000000000000000 | | | ? | { < Apartments for Rent New Apartment House 2530 Q Street N.W. Garage Facilities Title Insurance.... * Cash. Sharp Decline During Week Due to Dividend Reduction. NEW YORK, November 17.—The market on the curb during the week was one of wide movements in many {ssues, pronounced strength and sub- stantlal ins being made In the first three dl;‘:. but in the later dealings there was suddenly developed pres- d many stocks to lose nearly all th early gains and made others show d@tlined as the result of the weeks' trading. The widest move- ment was in Illinois Pipe Line, which ranged from 1623 to 115, the decline coming as the result of the .eduction in the dividend rate on Thursday. Part of this loss was recovered in vesterday's trading. The high for the year was 171. 2 There were wide movements also in many of the industrial issues. The feature was the trading in Cons dated Gas new stock, when issued, which ranged from 58 to 564%. Amer- fcan Light and Traction rose from 117% to 130% early in the week, with a decline of over 5 points when the market turned heavy. Centrifugal Pipe, on an advance from 23% to 27%, made & new high record. sure that ca Reasonable Rents Inquire the Janitor—or 216 Southern Building * 009000000000 0000000 000000000 06000000¢ | b3 J. LEO KOLB ‘923 N. Y. Ave. NW. Main5027 1237 Wis. Ave. N.W, HOUSES FOR RENT 214 K St. N.E., 9 rooms and bath...... 318 6th St. N.E., 7 rooms and bath. 119 G St. N.W., 6 rooms and bath 1353 Harvard St., 10 rooms and 2 baths. 1523 28th St. N.W., 7 rooms and bath. 2805 Q St. N.W,, 9 rooms and bath... 2819 Q St. N.W.,, 9 rooms and bath. FURNISHED HOUSES » 7 rooms and bath COOK CASE NEAR END. All Evidence in O0il Inquiry Com- pleted Yesterddy. WORTH, Tex., November 17. BT the government and the de- fense closed all testimony today in federal district court in the case of Dr. Frederick A. Cook, 8. E. J. Cox and’ twelve codefendants, charged with fraud In oll company promo- tions, Arguments may be completed Mondsy. FINANCIAL NOTES. 14 Com! says cur- Marg hoterats diserlt bution of dry ‘was approx! ely :::‘)‘:. 280 t‘!’l‘t’! exoseded last year. Collections were slower than last 429 Randolph St. N. APARTMENTS A 1338 N. Cap. St., second floor, 5 rooms, kitchenette and bath., $55.00 1338 N, Cap. St., third floor, 5 rooms, kitchenette and bath... $56.00 1104 18th St. N.W,, third fioor, 5 rooms and bath. 65Z Park Road N.W., 4 rooms and bath.. *STORES . $35.00 652 Park Road NW..... 911 H St. N.W. (with heat). 1907 Pennsylvania Ave. N.W. ( heat). 2703 Good Hope Road S.E. (20x40).... GARAGES 507 New Jersey Ave. N.W,, 2 cars..... 1109 19th Si. N.W,, 4 cars.. 1125 Columbia Road, 1 car. J. LEO KOLB year. toh steelmakers re- e et ebment ot to. Invade each other’s r:l‘nalx?d Scotch prices for trade ¥ m"l!:;(lle mills in Fall River will cur- tail operations 60 oent com- mencing next week se of con- tinued advance in cotton market. One thousand more textile opera- s gL i e mill er, N. om 'ul:' ‘the reopening of Several mill de- | positions. ' Delember closed at_b.! { March, 4.34; May, 4.43; July, 4.53. I More Queer English. From the Boston Transcript, Probably with a certain popular song in mind, H. O, writes that he {overheard the following in & restau- rant recently. A customer had start- ed for the 01 B he bered = pe g B e e e e i A ., Ooins @23 N. Y. Ave. NW. Main 5027 1237 Wis. Ave. NW. [| 52000 satdaios jopsashier. “T don’ The largost salling vewsel In the - ‘wol is 432 feet .long a 50,000 feet of canvas. “Yes, not yet,” answered the cash~ spreads ier, THE SUNDAY STAR, WASHINGTON, D. C, MARKET QUAR. £™uUAR. 1"QUAR 2°QUAR. 3°q EEnE T TR NELEF . e e TR W The chart above shows the high and low tive stocks dealt in on the New York Stock 16—Farm. and Mech. Nat. Bank. 46—Federal-American Nat. Bank DEPARTMENT. 1—Chapin-Sacks 8 per cent preferred. PIPE LINE CURB FEATURE| 183,000—Capital Traction 1st 5 9,000—City and Suburban Ry i 28,500—Georgetown Gas Light lst bs 4,000—Metropolitan R. R. 1st.5s 00—Pot. Elec. Power st 5s.. 00—Pot. Elec. Power cons. b8 00—Pot. Elec. Power deb. 6s. —_— 1923 b LY, | e [flh RAILS o by weeks, of forty representa- xchange, from the firat week 1921, up to and including the week ending November 17, 1923 industrials and outline curve 20 rails. section indleates volume of sales of all stocks. Lower Averages used are those The Year 1923 to Date on the Washington Stock Exchange. Furaished by W. B. Hibbs & Co., Hibbs Bldg. Up to and including Saturday, November 17, 1923. High. Low. Clo 23 92 93% 102 100 101 10 100 87 87 98% 96 8 94y n% 98Y 8615 9714 998, ode 120 XEG 2% 246 38 Bank 13 10% 102 15 15 15 .« B H 80 80 WO00D PRICES HIGH. Tree Association Advises Farmers to Make Use of Land. _One-third of the forest land in the | United States is on farms. These farm woodlands yield only a small proportion of the wood they should produce, an enormous waste of possi- bilitles,” according to the report of the forestry committes of the Cham- ber of Commerce of the United States, The American Tree Association of Washington, says the farm woodlot is an important asset and that the farmer should be greatly interested in the chamber’s referendum. As - to what to plant, white pine yields very good returns in New Eng- land, and the same may be said of the yellow pine in various parts of the south. Firewood is one of the Important crops. In 1920 an average of 10.6 cords of vood, or a total of 68,244~ 000 cori., were burned on the farms of the country. Piled continuously, this would reach four times around the world. The total production of cord wood during the year, which fn- cludes wood burned on farms and that sold by farmers to city dwellers, is estimated at not less than 90,000, 000 cords. The average farm value | in 1920 was $5.07 a cord. EX-DIVIDEND TABLE. November 20— Brown Shoe, Brown Bhoe'pt., q Buckeye Pipe Line, q. California_Petroleum, g. B Wisconsin Eiectrie [ Miam{ Copper q.. New Orleans, Texas & Mex. Ry. Onyx Hoslery or., q. At eting, o Qe ‘November 23— gonllu:ul Oll.B uppenheimer, Lancaster Mifls, " q. National Lead Co. Df. Btandard Oil of New York, Btandard Oil of Obio, Wanl Co., q. His Testimonial. From the Los Angeles Times. The proprietor of the soup house belleved in advertising, and from time to time solicited words of corg- mendation from patrons, There was a grim man who came in about twice a week and he was asked for a testimonial. i “There sald he, “some of your things d.:l:’t care for. But I'll give you & testimonial and swear to it be- fore a notary, If you like. Your salt and. pepper are. in my opinion, quite up to standard. NOVEMBER 18, 1923—PART 1. AVERAGES FORFIGN EXCHANGE |Sterling at New Low for ’:;‘(Samrdny Market Sees Heavy Sell- FINANCIAEL. | MUCH CAPITAL SHIFTED. | Action by Germans Causes Part of Exchange Break. NEW YORK, November 17.—A sharp break in the foreign exchanges which carried sterling and most of the principal continental rates to new low records for the year, a slump in French bond prices and the cre- atlon of new high records for cotton futures, were the outstanding de- velopments in this week's financial market. Shifting of capital, much of it be- lieved to be of German origin, from Amsterdam and London to New York was generally regarded as one of the primary causes for the weakness of sterling and Dutch guflders. KEEPS UP DECLINE MORTGAGE LOANS Denominations $100 to $6,250 Interest Rates 614% and 7% All loans secured on modern homes and busi- Year—Francs Touch Min- imum for All Time. By the Assoclated Press. NEW YORK, November 17.—Fur- ther dispatches indlcating a possible | French traruscs sold at the lowest rates ness property in best break between the allles over the|“VEijifrorded here, . o n}clxrtl[\t\est sections of German situation influenced another|tors was largely responsible for the the city. reaction in French governmental and municipal bonds. Brokerage houses with international connections re- ported a heavy increase of late in European buying of American stocks, particularly the seasoned, dividend- paying issues. —_— DRY GOODS STEADY. Wool Keeps at Higher Levels. Raw Silk Gains. NEW YORK, November 17.—Cot- ton goods were steady today with trade of moderate proportions. Yarns ruled steady. Wool markets were firm on the higher levels reached in the past week. The pegging of raw silk in the Japan markets led to greater firmness and some uplift in prices here. Linens were stead Jobbers' reports indicated & steady fili- ing In business and a moderate ad- ce_trad sharp drop in forelgn government bills today, demand sterling falling off to 4.27%, a new low figure for the year, and French francs touching 5.20, & new minimum price for all time. Liquidation in French and Belg! governmental and _municipal bonds aiso continued in the trading on the New York Stock Exchange, losses, however, being somewhat smaller than yesterday's recessions of one to five oints. Francs Improved slightly, mov- ng up about two point: Italian lire also improved mod- erately while Holland guilders again gave ground, lossing four points to 36.94 cents, a new low for the yea Much of today's heaviness was at- tributed by bankers to _speculative selling of sterling, although there was evidence of continued , transfers of capital Investments from' both sterling and guilders into dollar balances. Bankers reported that considerable apprehension was felt by holders of forelgn investments over the acute situation which has_developed from the wide difference Bétween England and France over the treatment to be accorded Germany. They stated that liquidation of investments in those countries in order to place the funds in dollar bonds or other American in- vestments had assumed relatively large proportions. ey BUYERS HOLD OFF IN STEEL MARKET Weekly Review Shows Price Changes Are Expected. Lead Up $2 Per Ton. Ask for Information MORRIS CAFRITZ Mortgage Dej 913 15th St. N.W. Main 617 ! —_— — 8% FIRST MORTGAGES We are offering the above in amounts from $2,000.00 upwards. All loans based on 00% of'value of property, with fire insurance cov ering full amount of loan. Title insurance or our atfornes's opinion furnished. No charge made for collecting quarterly interest coupons This city considered most substantial in Florids BANK OF SOUTH JACKSONVILLE, BOUTH JACKSONVILLE, FLA. Established 1912. The Margin of Security ‘We Demand to Safeguard Clients Investing in Our 7% First Mortgage Notes l} 1nsures absolute safety under acy and all conditio Upholds also our established record of never having lost in either principal or interest as much 48 a single pesny. Guaranteed titles and insurance policles furnished with all notes. Notes of $100, $250, up to $5,000 Now on Hand | For fun partien apply 0'Donnell, Loan Department. CHAS. D. SAGER 924 14th St. N.W. Main 36, Money to Loan Becured by first deed of trust ' Provailing toterest and. commivsion, Jfiph 1. Weller !‘f;,"_';'&“; e Mr. to MONEY TO LOAN By the Amociated Press. NEW YORK, November 17.—Con- servatism has prevailed In the steel market, and buyers have held off, evidently anticipating some readjust- ment of values for the first quarter of next year, although sellers have so far given little or no evidence of any intention to lower price levels. With the leasened demand mills have de- creased production, thereby strength- ening the statistical position. Both raflroad and Japanese buying ha: been disappointing. Pig iron was more active, buyers taking hold more treely at the lower levels. Copper Continues Firm. Copper continued firm on buying stimulated by the recent revival of European demand. Wrought copper, brass and bronze were also firmer, with a better inquiry. Latterly the domestic buying slackened somewhat because of the decline in sterling and unsettled political conditions abroad, but producers have nevertheless booked considerable business, and prices held well up to the 13% cent level at the end of the week. Produc- tion continues heavy, and deliveries showed an increase during October, Tin, after eharp advances on trade buying, reacted decidedly In response to weakness In sterling exchange and became rather heavy. Lend Trade Very Active. Lead advanced $2 a ton, with an actlve trade between dealers. The movement into consumption is ex- pected to continue hig} Zinc was easier, owing to bearish statistics and weakness in Londo Apart from a falr dgnand from gal vanizers and brass workers business was rather quiet. Antimony was less firm, owing to & waiting policy on the part of buyers, which offset the continued 1ight offerings from China. COTTON SELLS OFF AFTER BIG ADVANCE DISTRICT OF COLUMBIA AND CHEVY CHASE, MD., RESIDENCES 5Y4% Interest H. L. RUST COMPANY 912 15TH STREET N.W. MAIN 6888 LOAN CORRESPONDENT FOR THE PRUDENTIAL INSURANCE COMPANY OF AMERICA For an investment that is absolutely safe and which will produce immediate returns? THEN purchase one or more of our FIRST MORTGAGE NOTES secured by first liens on improved Real Estate in the Capital of the Nation. THEY will net you 6% per cent per annum, payable semi-annually on the day due. Let Us Submit Details Shannon & Luchs ‘Mortgage Department 713 14th St. N.W. ing—Sales of Print Cloth Very Light. By the Associated Press. NEW YORK, November 17.—Yester- day's big advances were followed by reactions in the cotton market today. There was buying on the continued strength of Liverpool, but it was sup- plied by heavy realizing and after selling at 34.03 at the opening, Jan- uary contracts broke to 33.70, closing at that figure. The general market closed Irregular at net declines of 6 to 20 points oh all months except August in which there was only one trans- action and which closed at & net loss of 185 points. ‘v Private cables sald fhe advance in Liverpool was due to trade buying by American interests and the strong- er market for Egyptian. The reac- tinary sentiment noted here. emph sized reports from Fall River claim- ing that increased curtailment there was likely, and that somo mills are already running only three days per week. Sales of print cloths in the Fall River market for the week were estimated at only 30,000 pleces. The recent relative firmness of Liverpool was attributed partly to the decline in sterling, which showéd a further loss today. EIVE STOCK MARKETS. BALTIMORE, Md., Novemben 17 (Special).—The general live cattle market rules steady, although receipts are ample for all trade requirements and prices generally are in buyers' favor. Demand s centered on first- class stock and most of arrivals by boat of oply ordinary quality. Quo- tations today at Light street wharf: Beef cattle, first quality, pound, 7 to 8. Medium, pound, b to 6. Bulls as to quality, pound, 4 to 5. Cows, choice to fancy, ‘pound, 5 to 6. Common to fancy, head, 60.00 to 76.00. Common falr, pound, 3 to 4. Oxen, as to quality, pound, 4% to ssg. Milk cows, cholce to to fair, head, 30.00 to 50.00. Calves' veal, choice, pound, 10 to 12. Ordinary to medium, pound, 10 to 11. Rough, heavy common, pound, 4 to 8. Sheep, choice, pound, & to 6. Old bucks, pound, 4 to 43%. Common, pound, 2 to 3. Lambs, spring, choice, 12 to 13. air to good, 10 to 11, Common, thin, poupd, 8 to 9. Hogs, stralght, poun 7to §. Sows, pound, b to 6. Stags pound, 3 to 4. Live pigs as to sl and quality, pound, 8 to 9. Shoats as to size and quality, pound, Tto 9. NEW YORK, November 17.—Cattle —Recelpts, 720 head; steady; steers, 5.0029.50; state bulls, 3.00a8.75; cows, 1.15a4.00. Calves—Receipts, 330 head; steady; 14.00a1. culls and _littie calvel Main 2345 Month Becomes $22,000 MALL sums saved systematically run into big morney when interest is compounded at the liberal rates paid on our First Mortgage Invest- ments. Between the vigorous age of 25 and the re- tirement age of 65 a man or woman can amass more than $22,000 simply by putting aside $10 a month under our Investment Savings Plan. Of that $22,000 only $4,800 is principal ac- tually paid by the investor. All the rest is com- pound interest. free booklet, HOW TO BUILD AN INDc],;l;ElGel;ENT INCOME, explains how any- one who will save $10, $20, $50 or more a month can quickly get into the coupon-clipping class of bond investors. e e NO LOSS TO ANY INVESTOR IN 50 YEARS Clhe F.H.SMITH CO. ounded 1873 FIRST MORTGAGE INVESTMENTS SMITH BUILDING 815 FIFTEENTH ST. send me your free booklet, “How to Bulld an Independent Income.” 1 6.6087.00; grassers, 4.00a4.50. and lambs—Recel, 1,210 Sheep and Jecstats, . 1.2 head; s ; sheep, s, 2.0083.00 $.50a13.80; culls, 7.00a9.00. Hogs—Retelpts, 560 head; steady light to ‘medium weights, 7.10a7.2! pigs, 6.7507.00; heavy hogs, 7.00a7.10; soughs, §.0085. Hame ..