Evening Star Newspaper, November 30, 1923, Page 29

FINANCIAL, ; e — AR LTI T T e T At M Tl i R - CHRITHAS RUSH | STARTS INEARNEST Linens Very Popular—Toys Bit Cheaper—Huge Club ‘Funds Aid Shoppers. BY J. C. ROYLE. cial Dixpateh to The Star. NEW YORK, November 30.—Retail trade started forward again with a rush today in almost every large cen- ter in the country. Holiday buying is in full Liast and reports'by mer- chants and department stores indi- cate that it Is earlier and of greater volume than in 1822, Nearly all lines have felt the rgsults of the increased business, but it has been particular. 1¥ noticeable in silk, velvets and dress 5o0ds. Linens have become a feature of £Ift buying. This is indirectly trace- able, the retailers say, to the tre- mendous number of new houses and apartments finished this year and which are now being furnished. Housewives have been thelr linen closets new furniture and hangings. Toys Somewhat Lower. The volume of toys sold this Christ- mas, it is indicated, will be greater than in 1922, but the general average of prices pald is somewhat lower in some sections owing to. the influx of tierman toys. In some cities these con- stitute the major portion of the lines handled. Oriental novelties, which have been a feature of Hholiday buying in recent Yeaps, are less in evidence than usual, due to the disruption of traffic and manufacture caused by the Japanese earthquake. This does not apply, how- ever, to mah-jong sets, which are be ing featured in all kinds of shops, from those handling sporting goods to the department stores and stationers. There is small doubt in the minds of the merchants that there is ample money in circulation for Christmas buy- ing. “Their confldence is easy to und stand after a tour of 5th avenue today. Rich Women Among Shoppers. Not only were the stores full, but hundreds of expensively dressed women blocked traftic on one of the most ex- sive shopping streets in the world while they fought to pay street ped- dlers $3 upiece for strings of imitation pearls, The ten-cent toy which street ped- dlers once were wont to display on the sidewalks of the shopping district during the holiday season. ap- parently has given way to more ex- pensive trinkets. which seeming are bought only to be disposed of in the most casual of remembrances. The volume of money pouring out of the pockethooks of the public is now beginning to be wugmented by the Christmas club funds. Next weck 15.000 clerks in 5.500 banking insti- tutions will prepire for distribution $5.650,000 of these savings funds which have accumulated since Janu- ary 1 into the sum of $211,606.300. Club Funds Coming. A check for each individual ac- sount probably will reach the savers not later than December 10. Of this tremendous sum New York state ac- counts for about one-sixth Over one-twelfth of the amount spent for presents will be ex ded in Greater New York city. nks are already preparing a@vertising campaigns to stimulate sa&vings by this means in 1 Others outside the chandising field will these funds. because that about 7 per cent involved goes annually into premiums, 4 per it is de paying interest on mortgages and 11 per cent is used in payment of taxes. P Credit Men Aroused. One tendency which is being closely watched by credit men is the disposi- tlon of come wholesalers and retail- ers to promise customers almost any- thing irrespective of ability to make good their promises. Credit men say this policy of “get the order.” matter what stinulations with it as to delivery and servic one of the dangers of American business to- day. It has resulted. they say. in driving customers away and has pre- vented reorders. It has cost the 'nited States a tremendous amount of business in foreign countries. The creait men's interest in this procedure has been enhanced this vear owing to the policy adopted by % many retailers of buying fre- quently and in small volume, and depending on prompt deliveries. The credit watch do: that it fair inference that a merchant who does not keep faith with his custo- mers 1s likely not to be particular to keep faith with his creditors. RAILROAD SHOWS GAINS. Maryland and Pennsylvania Rail- road Boosts Yearly Earnings. ™ strictly mer- henefit from statistics show Special Dispateh tar. BALTIMOR pvember 30.—De- spite the fact that its report for the month of October shows’slight de- creases as compared with October, 1922, the Maryland and Penasyivaaia srallroad.shows substantial gains for the ten months ended October 31, To- tal operating revenue for the t month period was $784,955.61, an in- crease of $112,547.30, compired with the corresponding period - Net operating_income for the period was $199,043.87, an increase of $i 904.86. APPLE MARKET QUIET. NEW YORK, November 30 (Special). —The fresh receipts of barreled ap- ples were comparatively light today. The market was rather dull, as the early morning demand was accord- ingly limited. “A" grade 2%-inch #RBaldwins sold from $3.50 to §5.50 per barrel, while Greenings broughts from $4.50 to $6.5 TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) te—Matority. qo Beeentler T o 1% M 45 M 1024, i Blas L 103.16 100 i 100 1752 * 1028 March 15, 1927000 100 23.32 December’ 16, 1927.. 100 —_ SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) —Noos.— Bid. 0455 100 100% 116ig 101 100 21.32 un Co. of Amer. Aluminn Co: of Amer. 18 1 Awerican Co Américan Sugar o e Afaconda Copper 68 1929, ‘Angto-Americnn Oil 7 Baltimore & Ohio Gs 11 Canadian Northerd 5 Central Argentine Bv‘y Central Leather B 1 45 b, R 1, & Pacific S¥s 1926.. 0 Tel. % ShlesgR: Wi Tas. Bdison EL 1L of Bos. 5. 1925 Federal_Sugar Ref, Gs 1933 Fisher ngy :J:rp. r: ;% p. i e & ’1! & h 8s 1681 1038, oil .. ecott Copper Ts 1 ]'5":”‘;. McNelll & Libby 7s 1031, ‘Michigan State Tel. 58 ’lfllv P. & 8. 8. M. 63s 1931. Co. Tlas 1830.. bl}. T8 1830, dion o’ g, i1 e . S Ripmater O w20 1 U & Rubier 73s 1080 replenishing s well as buying | no | Recelved by Private Wire BY WILLIAM F. HEFFERNAN. Special Dispateh to The Star. NEW YORK, November 30.—-Buying operations on the curb market today settled down to a few selected stocks and the upturn was less rapia. Realizing sales were heavy in the oil shares and checked any further tally in this group. Standard of In- diana held slightly above the previous close and Prairie Oil and Gas moved over a range of a point around 220, Vacuum O, selling ex the $1 divi- dend, was practically unchanged and Imperial of Canada, selling cents, was about where it Wednesday. Despite weakness in United States Cast Iron Pipe on the stock exchange the l|!.‘milnd &t & new high price con- tinued for Centrifugal and resulted in a gain of over three points. Department Stores was another fav ite, getting up to 43. ex 75 closed - ! Falu Knitting NEW YORK, November 30.—Fo!low ing is an officlal list of bonds and stocks traded in on the New York Curb Mar- ket today : Salen in thousands. 14 Allica 1 Allied 1 BONDS, High. 0 805, ey kers Gu ¥ 1025, [T T 0y 003 1003 1003 101 101 0 0 10 10; o 833, 208 100t 101% il w0y 983 07y a5y Sumat T m T & T da 24 da 0n . rd e Il 7 Tap 610 01 & Rath Steel 75 83, 103 6 Can Na Ry Bauip 7 1075 1Chi R Ia & Pac 5is 97% k c: Ay 2013 ~ 100 L2 N1y 3 8810 5 uily 10215 Detroit Ediso A Sug e Rody s Fisher Rody tix Fisher Rody_fix ir, Robt 7%, Galenn Sig 01l 4 IE O of Pa n. Kan City Term Manitoha Power Maracaibo Ol 7s Nat Leatier 8s..... 5 New Or T PAP&T P A8 Pub Serv of N P 7% 1001, Pub Serv El Pow 6 Reading Coal 55 Shawslieen 7s Shell 6 vex et Cie S 0N Y B Sun_ 0il 4 Switt & Tn o i 1083 10614 iy Prod Sa. Yacoum o0 T Valvorine 01 7% Wb Mills Gis Wi FOREIGN BONDS. 1001 12ty 7e 1 3 11 3 8 30 Sales. in units. 0 Auglo-Am Ol ) Atlantic Lobox Tnckeye P L. sheriand i al Nig Ofl...... 00 Humble 0 & R new 110 Iip OH1_of Can AR S A Intern Pet Co Tad. STANDARD OIL ISSU Prairie 0il 200 Peon Mex i P L. Penn 40 8 0 Ohio. 108 W Penn P L. 1200 Vacann Oil new! 110 Washington Ol NDEPENDENT O1L & | $lwn it ser 12 Crecle § Derby O Fedvral 1 Rock 0 iranada Ol . k5 alf St 0 & R wl Hudson 011 Latiu Amer O .1 Mirlund > Mex 0N, 12051 Monnt_ Prod ofl vtz 1o Ol & Omar O & Gas cer Ol Corp. Pennock O . is aj Tast £ i LW l'renmul Taxi com. | capital | Columbia Can 0 & R | Washington Stock Exchange. SALES, i Washington Gag 5s—$1,000 at 93. 81,000 at . £1,000 at Potomac Trie Gx of 19388300 at 1011, Whardman Park Hotel 6s—$1,000 at 99, $1,00 | 99, $300 at 99 Capital Tzaction 3t 98%. 2 at 98%. AFTER CALL, Washington Gas 0s '33—$100 at 100. Patomac Eleetric s of 1033—$2.000 at 101%. Washington Rwy. & Elec. pfd.—4 at 715, Mouey—Cuil lowns 5 und 6 per cent BONDS. Bid and Asked Prices. PUBLIC UTILITY. Telza. Amer. |Am. Tel. & Tel. ctl. tr. | Am. Tel & Tel T " & . Telephone of i | Capital Traction K. R. ox... City & Suburban (évorrxelnwn Gas 1 Metropalitan It ! washington G & Elec. MISCELLANEOTUS, D. C. Paper M. fis. | Rigks Realty o (long).. ... .. | Realty 5s (short). Eek¥hcor. & Sate Dep. s, Wirdman Park Hotel 6" ’ STOCKS. PUBLIC UTILITY. American Tel. & Telga. Capital Traction. Washington Gas.... N. & W. Steamboa u. Rwy. & Elec. sh, Hwy. & Elec. pfd... NATIONAL BANKS. Commercial District ... Farmers & Federal-America: Liberty Lincoln Becond .. | National B of Washington' TRUST COMPANY. Amer. Security Continental Tru its' Ba N omal Savings and Trust Inion Trus nlon Toun and Trust.. NGS BANK, Commerce and Savings. ‘East Washington... Becurity Sav. & C Seventh Street. United States.. ‘Washington Mechanics’. FIRE INSURANCE. % | American Corcoran . Firemen's National Union.... Becurify Storage.. ‘Washington riet.. Yellow *Ex-dividends Kresige THE EVENING STAR, WASHINGTON, D. C. FRIDAY NEW YORK CURB MARKET Direct to The Star Office Mills suddenly came to life and ad- vanced well over a poind. The stock was recently offered for public sub- scription on the basis of two shures of § per cent prior preferred and one of common for $200. Weakness developed in Todd Ship Yard, the stock breaking over a point on selling, supposedly by those who had.bought in expectation of an extra dividend. A further advance occur- red in United States Distributing and Rosenbaum Grain. Diamond Field Black Butte was one of the most active of the mining group, blocks of 10,000 and more changing hands around recent top prices. Re- newed activity in this stock followed re- ports that the company had been financed to the extent of $40,000. Hawthorne Mines crossed 60 to its best prices on reports that the company I8 rushing mill construction to handie tonnage already blocked out. Buying of Mexican government bond issues followed reports from Mexico Cits” that the Mexican financing plan will _become effective next week. The 6 per cents at 58 were two points above last week's closing. — Salt Ck Prod. Ravoy 01 % 518 06 1 Acme Conl 2 Arch Dan 14 Atlnutic Frait wi 8 Iiridgeport Mch wi T Cent Teresn pfa 19 Centrifug lron Pipe 3 Check Caly Mfd A 4 3 Chic Nip new wi. 1% Cand Troa Corp wi 4 Ch Np B Tr new wi f { Hig every action denoted a desire to Itrain at Sedalia?” 7 Dunh:ll It 1 . Dubllier € & Radio [ £ Knit Mlls.. 4 Dust, o wi Hudson Co pfd ... 217 Kresge Dept Stores 4 Leader ¥ Lupto Mewahi Midvale i Radlo Corp...... Rudin Corp pfd. Pt it Unit Unit Wayne Coal Wm Wr Jr new wi MINING aria Min Cons Copy Mines ne oy Prosince Mine Cortez Silver Cresson ¢ Davis e Dolores Esper 1 .85 ondfield Daicy. 01 ondfield BI it 09 silver .. « ureka Croesus Fortuna Mines ... aldfield Deep Mine ioe upine. v Horn. . Ruy Hereiles Red Hill Florence Rex Conx Salida Minis St Croix Mines . Silverdale i1} 0 Dev Mines GERMAN BANK REPORT FIGURES ARE APPALLING | Changes During One Week Reach Enormous Totals—Gold Re- mains Same. By the A Press BERLIN, November 30.—The week- statement of the Bank of Ger- 1y of November 7 shows the many as following change: Total coin and bullion 4,366.269.000 marks. old unchanged. Treasury and notes increased 2.089.; 000, . Notes of other banks increased 13,- 761.015,044,000. Bills' of exchange and checks creased 6,999,148,810,3%3.830,000. Discount_and treasury bills decreased loan association 29,943,089,405,- in- in- creased 19,520,073,174,224,987.000. Advances increased 148.218,818,759.~ 622.000. Investments 2,349,248.- 476,949,000. Other assets 941,542,980,000. Notes in circulation increased 16,- 656,264,559,868,087,000. Deposits increased 12,962,418,75y,- 982,932,000. Other liabilities 224,846,621,630,000. Total gold holdings, marks decreased increased 4.013,972,- increased 3,150,~ 467,025,000 e il e Her Temporary Deafness. From the Kansas City Times. Awaiting _her traln, she sat de- murely reading a magazine in the waiting room at the Union station, Across from her sat a “gay blade’ firt. The demure one apparently saw him not. Nothing daunted, he walked over in front of the young woman and asked: “Didn’t 1 see you get on the “What did you say?’ replied the young woman, cupping her hand be- hind her ear. “Didn’t you get on the train at Sedalia?’ came back the query in a slightly louder volce. i “I beg your pardon; I can't quite hear what you are saying.” By this time the fiirt was rather flabbergasted. In a voice heard several seats away, his face a violent red, he shouted: “Did you get on the train at Sedalla’ > “Not that I remdmber,” she an- swered. The not-so-gay sure of a grinning crowd, quick get-away. A few minutes later a red cap ap- proached. “Your train is here,” he announced, in a mild tone. “Thank you,” she replied. Her hand was not at her ear, either. “blade,”the cyno- made a Toquacious Nag. From Lite. They tell of a young married artist in Washington square who has a predilection for talking in his sleep. Several times recently he mentioned the name “Irene,” and his spouse questioned him about it. “Oh, that" said he, thinking fast, “is the name of a horse.” Several days later when he came home he asked his wife the news of the day. “Nothing exciting hap- pened,” she said, “except your horse called you up twice.” !under the | canaaian [\ncludofl $6.750.000 DECLARE BUSINESS . NEEDS TAX CUTS Bankers Say New Industries Are Held Back by Fear of Too Heavy Burdens. Bpecial Dispateh to The Star. NEW YORK, November 30.—The Natlonal City Bank's December bark letter says, in part: “Secretary Mellon has offered a feasible plan of tax reduction, the ef- fects of which if adopted are certain to be seen In a new Iimpetus to in- dustry and business of all kinds. The country Is in need of such an impetus {at this time. Business is in an un- certain state and would be grestly helped by action that would revive general confidence. The prospect for @ settlement of Buropean troubles is not hopeful, and this country must continue to look mainly to its own in- dustrial activities and its own In- dustrial leadership for the employ- ment of its workers and the consump- tlon of the products of It farm. mines and factorfes. It must tide over the period of restriction in world trade by stimulating activity at home. We need to support and encourage the Spirit of enterprise throughout this country in the coming year by every practicable means. Conxtruction Work Vit “Construction work has been the basis of the revival of business in the | past ear. The difference between 8ood times and bad times, between full emplovment and half-idle industries, I8 mainly in the amount of construc- tion work under way. The volume of construction work depends upon the pulse of confidence and the supply of new capital flowing into the invest- ment fund. The old industries are kept busy in large part by the equip- ment and development of new in- dustries, and when confidence is dead industry dwindles away. “Taxes which take a large part of the earnings may be endured by es- tablished industries, but new enter- prises are involved In risks, and it is a serious deterrent to new ventures that losses must be wholly borne by the investor while the government stands ready in the event of success 1o take a great share of the profits. Such conditions do not promote the pirit of enterprise which the coun- try is needing at this time ‘War Profit Hard to Find. “Of course there arises an outer: against taking the taxes off of '\'IP‘)( incomes created by war profits, ete., which hae no more meaning than beating a tomtom. So far as war profits are concerned, those which were not paid in taxes at the time have been in great part lost sinee They are not a tangible factor in the wealth of the country, there is no way of finding or distingulshing them, and the man who talks about them can be written down as one Wwho has nothing of any congequence to say. To the general argument against relieving the rich of taxe the statements from the Secretary's letter afford a reply that cannot fail to be convinecing to those who give attention to them. T?. proposals are not designed to take the taxes off the rich. Relief on Moderate Incomes. “The reductions that will be ef- fective are mainly upon moderate incomes, while the rate reductions upon large incomes are intended to increase the Tremsury revenues. The great body of thrifty. effective peo- ple of moderate Incomes will receive a substantial rellef from taxation plan. and will have more in enterpri which will employment to labor. increase ive capacity of the coun- ntribute to the national independence and prosperity in this time of world disorganization and uncertainty.” —_— WALL STREET NOTES. Dividends—Better Business—New Issues. ‘EW _ YORK. November * 30.—The Great Northern Tron Ore Company has declared a_dividend of $2 on its cer- tificates of beneficlal interest. The last payment was $1, on April 30, 1923, A quarterly dividend of $1.25 on the common stock has been woted by di- rectors of the Youngstown Sheet and Tube Company, bringing total dis- bursements for the year on that stock to $4.75. The directors voted ®iso the regular quarterly dividend of $1.75 on the preferred stock. he volume of business has been gradually increasing since the low point of a few months ago. President Grace of the Bethlehem Steel Com- pany stated today. He expressed the opinion that the tide had definitely turned in the steel industry Net profit of the Famous Players Corporation for the year ending September 1, 1923, totaled $532.812, as compared with $439,192 in the previous twelve months. Public offerin of new issues today State and Wash- neton Bulldings (Chicago) first mort. gage 6 per cent six-month to fifteen- year serial gold bonds at par, and to invest give More Steel 31,620,000 Seaboard Air Line Railway Company six-month to 1i-year 6 per cent equipment trust gold certificates at prices to yield 6.10 per cent. —_— WOOL PRICES ADVANCE. Review of Week Also Shows Fair- . ly Good Demand. BOSTON, November 30.—The Com- mercial Bulletin will say tomorrow: “A moderate demand for wool con- tinues, and prices are very firmly sustained throughout the list, with the tendency of prices, so far as can be observed, still upward. Manufac- turers veport light-weight bueiness as rather indiffcrent, but they are buying to cover some repeat business, and also, it would appear, In anticipa- tion of heavy-weight demands, Whether the heavy-weight season will justify heavy purchases at this time, however, is a question on which theré is no definite opinion. “The foreign markets are very buoyant, Liverpool showing an ad- vance of par to 10 per cent, mostly about 5 per cent over the close at London.” —_— ROAD’S EARNINGS UP. Western Maryland Makes Good Qctober Record. Special Dispatch to The Star. BALTIMORE, November 30.—In- crease of $139,624.78 in the net income of the Western Maryland Railway Company for October last, as com- ared with October, 1922,"is shown Pathe Yeport of the company. This net income for October, 1923, was $153,628.67. Ratio of operating ex- penses for the month was 76.22, as against 82,16 in October, 1922, To- tal earnings for the current fiscal year to November 21 last were re- ported at $20,795,082.70, as compared with $16,283,939.30 for the corre- sponding period of 1922, an increase of $4,511,143.40, or 28 per cent. Earn- ings for the three weeks ended No- vember 21 were $162,5636.84, or 12 per cent less than they were for the cor- responding period of 1922, being $1,205,875.12. RICE RECEIPTS FALLING OFF. NEW ORLEANS, November 30 (Spe- clal)*—Receipts of rice are running only about 60 per cent of those of last year, demand is better and stocks at the mills low. Low prices are advanc- ing steadily as a result and are three- eights to one-half of a cent a pound higher than last week. Best grades of Honduras are selling at 6% to 7 cents and blue rose at 5% to 5% cents. ’Is to have shortly what RATE CUTS WOULD HALT RAILROAD IMPROVEMENTS Special Dispatch to The Star ST. PAUL, November 30.—De- creased freight rates on agricultural products, especfally grain, would re- sult in a drastic curtaiiment of the $57,000,000 improvement program planned for the next threc years by the Northern Pacific, according to President Charles Donnelly. Mr. Don- nelly added that decreased rates would deprive northwest raliroads of revenues necessary to expand facil- ities to keep pace with the growing needs of the public. INSURANCE FIRMS PROTEST RATE CUTS) Appeal to State Courts After i New Order for Reduction of 15 Per Cent. a1 Dispateh to The Star. JEFFERSON CITY, Mo, November 30.—Insurance companies have again resorted to the courts in their fight agalnst orders of the Missouri Insur- ance commissioner reducing rates on fire, hail, Hghtning eand tornado In- Surance. A temporary restraining order preventing a 15 per cent reduc- tion has been obtained and a previous order for u 10 per cent reduction is still in the courts. The stock insur- ance companles charge that they have been discriminated against by Commissioner Ben C. Hyde in favor of reclprocal companies. $4,500,C00 Store Deal Reported in Chicago Special Dispatch to The Star. CHICAGO, November 30.—Chicago said to be department store block in Charles A, Stevens & Bros. have purchased two lots and 1ildings on the block bounded by State, Madison, Wabash and Wash- ington streets.” When the necessary repairs are made, this purchase wiil reduce the occupants of that block to the Stevens Company, Mandel Brothers and Marshall Field & Co. all large department stores. The deal for the Stevens lots involved about $4.500,000 and J= said to have been the largest of its kind in the history of Chicago. {Dry Goods Sales Gain 12 Per Cent in Quaker City Special Dispatel to The Star. PHILADELPHIA, November 30— ales of dry goods here this month |have been running approximateiy 12 {per cent above those for the corre- {sponding period of 1 The sales of cotton goods apparcntly have not been affected to volume by the ad- nces in price put into effect since the advance in the raw staple. Blankets, sweaters, flannels, under- wear and hosiery are in demand. The demand for toilet articles is not so active as in October. U. S. RAISES BIGGEST PART OF WORLD’S CORN CROP NEW YORK, November 30.— The announcement that the corn crop of the United States is again above the 3.000,000,000-bushel line lends interest to some figures on the corn crop of the world, compiled for the Trade Record of the National City Bank of New York. These figures show that while our corn crop seldom crosses the 3,000.000,000-bushel line, the world production ‘seldom goes above the 4.000,000,000-bushel mark. In other words, says the Trade Record, the United States habitually produces about three-fourths of the corn of the world The principal corn-producing_area of the world outside of the United States is Argentina, In South Amer- fca: Italy, Rumania,” Bulgaria, Czecho- slovakia, ~Hungary and Europe the largest the world nation pro- as much as the United Stat Corn prefers a com- paratively warm climate, and so it happens that the countries of north- ern Europe are extremely small pro- ducers, even Russia with her enor- mous agricultural area averaging but about 50,000,000 bushels a_ year els, while Germany and the navian states produce but extremely small quantities. Argentina is by far the largest single producer out- slde of the United States, and even her annual crop of about 250,000,000 bushels is much less than the average crop of our single state of Iowa. The Department of Agriculture esti- mates that 40 per cent of our corn crop is fed to swine, 20% to farm horses, 15% to cattle on farms and 5% to live stock not on farms, 10% per cent for human food, while only about 2% is exported in the natural state, though of course a large share of the meat exports represent corn. —_— U. S. LOSING SHOE TRADE. British-Made Boots Taking Away Canadian Markets. OTTAWA, Ontario, November 20.— British-made boots and shoes are tak- ing the Canadian market away from United States manufacturers, it was shown in figures published by the Do- minion bureau of statistics. Importa- tions of boots and shoes from the United Kingdom increased in value by $173,095 during the twelve months end- ed October 31 last, in comparison with the previous twelve-month period, while the increase in the value of American importations of boots and shoes wa: only $51,414. —_— NEW EARNINGS RECORDS. Great Northern R. R. Shows Gains for Month and Year. Special Dispateh to The Star. - NEW YORK, November 36.—Great Northern's October grossand net were the largest for any month in the his- tory of the HII lines. Operating ratio at .63 was exceptionally low. October gross was $14,158,440, a gain of $2,562,960 for last vear. October operating expenses were $1,513,343, a decrease of $805,641. Gross revenue for the first ten months of 1923 was $99.443.973, a gain of $15,028,418. Operating were $74,083,166, an increase of $8.- 410,438, approximately half this in- crease being maintenance charges. Net revenue for the first ten months of 1923 was $25,350.806, a gain of $6,- 617,980 over the corresponding period of 1922, Net operating income was $18,569,605, an increase of $5,763,936. HOTEL BUSINESS BETTER. Owing to various remedial meas- ures and two falrly good seasons in 1922 and 1923, the Swiss hotel indus- try is now In'better shape, says Con- sul L. W. Haskell, Geneva, in a re- port to the Department of Commerce. This is encouraging, as hotel opera- tion is an important factor in the economic life of the country, and the state of its prosperity has a dectded effect upon conditions in the labor market. SIX NEW OIL GUSHERS. HOUSTON, November 30 (Special). —Six new gushers have added 18,800 barrels to the daily production of the Powell fleld in the last week. Pro- duction in that fleld, however, has been dropping at the rate of 10,000 barrels a day for some time, and now fa funning” about 275,000 barrels aily, out of the world’s 4.000,000.000 bush- | Scandi- | NOVEMBER 30, 1923. IREAL BLOOD DUEL STIRS CALIFRNIA Italians Back Swordsman Against Best Russian Colony Can Produce. pecial Dispatch to The Star. SAN FRANCISCO, November 30.— San Francisco was aroused today over reports that it is to have a duel-—a regular duel to the blood, if not to the death. The city’s famous Little Italy and FINANCIAL. PICK UP IN ST. LOUIS Speclal Dispateh to The Star. ST. LOUIS, November 30.—Orders for epring de ivery of dry goods re- celved this week have shown a de- clded increase, according to repre- sentatives of the Rice Stix Dry Goods Company. ~ Higher prices on some lines ere anticipated, they added There was an increase in the number of out-of-town merchants in the mar- Xket, but orders for holiday merchan- disé were about the same as last week. Business as a whole is taking a | middle course, according to the Lib- | erty Central Trust Company officials They ~ predict fair conditions with somewhat less activity. There is a | considerable increase in inquiry for | lumber. DRY GOODS ORDERS l —_— MIDDLE STATES OIL [ GETS CUBAN RIGHTS; Special Dispateh to The Star. Ner equally tamous Littis Russia are | o NEW VORK, November 30.—Middle | responsible. They are going to fur- nish the duelists ani most of the crowd. The police expeet to be there, too, for there is no end of bad biood be- tween the two colonles over the aliair. But so far they have not anavunced any intention of stopping the fight The duel idea had its inc2ption when a local Italian paper declared with much gusto that Capt. Gaceinto Sanges, pride of Italy, and a swords- man de luxe, was unguesifonably the greatest puncturer of human anatomy in the world—bar none, The Russian colony heatedly denied the claim. Gen, Alessandro Ilin, for- mer member of the late czar's per- sonal guard, the Russians =et forth, could make Capt. Sang look like a lace doily before the captain knew what it was all about. Retraction of the Itallan’s “absurd” claim was de- manded—and refused. If Little Italy thought so highly of Capt. Sanges’ prowess, it was added, let it bring him on and back him against the redoubtable Ilin. Challenge Accepted. o Little Italy did just that. It vired Capt. Sanges in New York, and apt. Sanges burned up the plains coming west. He arrived on Thanks- giving day and was wildly greeted by loval Ttailans. Then committees of the two colonles met and arranged for the duel. The first thing agreed upon was that this should be no ordinary fenc- ing match, with foils. There must be blood. ‘At least a little blood. The duel was =et for the night of December 13, and the Civic Audito- rium was picked for the Roth champions have started train- ing, and both have been provided with whetstones by their ardent sup- porters. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ST. LOUIS, November 30.—The largest single shipment of apples from one shipper to one consignee ever handled here has just arrived by steamboat from Calhoun county, n It consisted of 1,138 barrels, equivalent to six carloads RALTIMORE, November 30.—An or- der for 500 steel hopper cars and 500 steel underframe box cars for the Baltimore and Ohio road has been placed with Pennsylvania car equip- ment plants DETROIT, November 30.—Produc- tion at the Ford plant for the week ending Tuesday was 40,809 cars and trucks, an increase of 583 over that of last week. ST. LOUIS, Mo., November 30.—The Gardner Motor Company has just shipped thirteen automobiles = to Yokohama, Japan, by all-water route, using the’ federal barge line to New Orleans. ATLANTA, November 30.— The candy and soft drink sirup manufac- turers are preparing to proceed with plans for expansion next vear, as the special tax proposals affecting those industries have been defeated in the upper house by the Georgia legislature, KANSAS CITY, though there is an oversuppl storage cggs, which are selling at 24 to 25 cents a dozen, retail fresh eggs have jumped here to 67 cents, and commission men predict they will re- main at high levels until spring. Farmers are receiving from 40 to 45 cents a dozen. ST. PAUL. November 30.—Organi- zation of an egg-market pool, sim- flar in operation to the co-operative mill marketing association now func- tioning here, is being planned by farmers in territory adjacent to the Twin Cities. PHILADELPHIA, November 30— The first consignment of Christmas trees has just arrived here, consist- ing of about 1,200 trees. The ship- ment came from Quebec and will be followed immediately by thirteen more carloads. R —— AMERICAN FINANCIERS AFTER POLAND TIMBER By the Associated Press. LONDON, November 30.—A profect is under way for the concession of timber rights in the Polish forest of Bialowieska, one of the largest in Europe, to & consortium of American financiers, according to an anmounce- ment by the Polish Press Bureau here. The Americans are stated to have of- fered the Polish government $40,000,- €00 for the concession. The Bilalowleska forest covers 470 | square miles of flat and _ partly marshy land between the Niemen, Bug and Pripet rivers. et S— FEWER HOGS ON FARMS. Re: expenses’ e Bank Also Reports Ccrn Yield in Middle West. CHICAGO, November 30.—A report on agricultural conditions in the sev- enth_federal reserve district, issued today by the Federal Reserve Bank of Chicago, showed that 157,340 farm- ers in 136 counties of the district had 1.3 per cent fewer hogs NovemDEr 1, 1923, than a vear ago. Reductions of about 4% per cent were reported in Tllinois and Indiana increases of about 2% per cent in Michigan and Wisconsin while Iowa's number of hogs was about the same as a year ago. EThe corn crop vield in Iowa and isconsin was less this vear than last, according to preliminary husk- ing returns, but it was more in In- diana, 1llinois and Michigan. A to- tal production for the district of 963.- 972,000 bushels was forecast by ths bureau of agriculture economics fa* this year, as compared with 984,328, 000 bushels last year, the report said. HARDWARE DROP SEEN. Slightly Lower Prices Likely After First of Year. Special Dispatch to The Star. NEW YORK, November 30.—Hard- ware Age, in its weekly market sum- mary, says: Consistent buying activity for both seasonal and staple items features the hardware markets throughout the country. No major price changes were announced during the week, al- though. a number of small readjust- ments were reported by individual manufacturers and Jobbers The opinion seems to be growing in some sections that slightly lower prices may obtain shortly after the first of the year, although there is an equally large element who anticl- pate some advances on seasonal spring lines. . It is said that some of the large buyers are receiving slight price con- big event. | qustrial and | FOR INVESTMENT | November 30.—Al- | of | ates Oil and Turman articles of control of Oil,” through have acquired States Ol agreement the Foreign Corporation, which owns large oil and gas leases in Cuba. The prop- erty acquired consists of 30,000 acres Jocated in Havana province, which were geologized by Dr. Ralph Arnold of Los Angeles, Calif., and Barnabas Bryan of New York city. Foreign States OIl Corporation is drilling its first well about twenty- five miles south of Havana on the Bejucal dome, which structure has Leen predicted by many geologists as the logical area to provide the con. stantly growing needs of Cuba, which now exceed 20,000 barrels per day, all this oil being shipped from Mexico. B — IRON TRADE PICKS UP. Weekly Review Most Cheerful of | Present Year. IVELAND, November 30.— Th eland Iron Trade Review's wee 1y report is the most optimisti the r. It says . ig iron buying has been so large hookings in ember exceed a mil- | lion tons, the heaviest since the early months of 1920, with iron prices up 50 cents to §1 a ton “Railroad buying is still a marked feature. ~The ~Pennsvlvania _railroad orders for 200,000 tons for 1924 now released. The Baitimore & Ohio bought 15,000 tons of tie plates, and | the New York Central is inquiring | for 30,000 tons and also 105000 kegs | of spfkes and bolts. Confidence in | early appearance of active steel buy- ing to meet the needs of the sound in- commercial situation in | is growing. of a this country FIRST MORTGAGE LOANS Denominations $100 to $6,250 Interest Rates 615% and 7% All loans secured on “modern homes and busi- ness property in best northwest sections of the city. Ask for Information RRIS CAFRITZ Mortgnge Department 913 15th St. NW. Main 617 Money to Loan To 5:;{,"1"_“{\.’:{‘1:;‘ A S et First Mortgage Secured on residences in the Northwest section of the Never a Loss Each loan for less than the property. Booklet on Request Realtor 15th and K Sts. N\W. 7% Notes city. half the market value of William S. Phillips Main 4600 A Sign of Action Since 1906 cessfons, although no weaknees is ob- ' seryable in any.of the staples. $200, real semian Its 7% First-Mortgage Notes, SECURED by District of Columbia Real Estate, Are a GOOD INVESTMENT. Offered in_denominations from $250.00 UP. The Margin of Security We Demand to Safeguard Clients Investing in Our 7% First Mortgage Notes bsolute safety under asy and all conditions. Upholds also our never baving lost interest established record of in either principal or single penny. NoOtCs of $100, $250, un to $5,000 Now on Hand For full particlars apply 0'Donnell, Loan Department. CHAS. D. SAGER 924 14th St. N.W. Main 36, to Mr. Safe Investment First mortgage loans $500 and_ $1.000, entate;" Intercst natty TERRELL & LITTLE, Inc. Realtors 1206 18th St. in denon secured 0% per nations of oved NW EQUITABLE Co-Operative Building Association Organized 187D 434 YEAR COMPLETED Assets 84,750,762 Surpl <.+ $1.207,381 Save as You Earn pact oF sour earalnge:. 10 in the snre way to et ahead foaneially. . Join tie Equitabie: Subscription for the 85th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Preside: FRANK P. REESIDE, Secy. Over a Quarter of a Century Experience B. F. SAUL CO. NoW. We Offer for Sale FIRST MORTGAGE LOANS Bearing 64% Secured on HOME PROP- ERTIES at less than one- half of value. This Is the Safest Possible Security Guaranteed Title Investment from $500 upwards Waggaman & Brawner, Inc. Franklin 7455 732 Seventeenth Street N.W. UNDER . UNITED STATES GOVERNMENT SUPERVISION Safety and Interest Guaranteed 4 Savings Deposits 495 5% Certificates of Deposit5 o Free Checking Service Banking Hours: 8:30 to 5 PO THE DEPARTMENTAL BANK 1714 Pennsylvania Ave. N.W. SERVICE and SAFETY National Mortgage & Investment Corporation 811 Vermont Avenue N.W. Deals in the Best Real Estate Securities First and Second Trust Notes and Ware- house Receipts are purchased at fa'r rates Improved FIRST TRUST NOTES Paying 615% ~can be had here in denomina« tions of $100, $250, $500 and $1,000. Telephone Main 2345 and Ask Our MORTGAGE INVESTMENT DEPARTMENT To Send You Full Information