Evening Star Newspaper, December 1, 1923, Page 21

FINANCIAL NEW YORK CURB MARKET Recelved by Private Wire Direct to The Star Office 1 COTTONCROP MAY BEINCREASED Planters and Business Men in South Seek to Meet Threatened Shortage. BY J. . ROYLE. Epecial Dispateh to The Star. NEW YORK, December 1.—Al- though tho 1923 cotton crop is still in process of marketing, far-sighted business men in both north and eouth already are turning their attention to the possibilities of the 1924 season for the staple. Conservative estimates show that a 15,000,000-bale crop will be necessary In 1924 to supply the mill demand up 10 the harvesting of the 1925 crop. The question now Worrying Erowers textile men and merchants is whather the south can grow a 13,000,000-bale crop even with the encouragament which the high prices of the 1923 year have given. There seems every propalility that the mcreage planted to cotton next vear will be more extensive than in any previous year. It Is practically certain, however, that the plantinis of such ah acreage would be followed by a correspondingly large abandon: ment. For the labor situation next year will be one of the most serious the south has ever face. Labor Shortage Feared. 1t is conservatively estimated that 32 per cent of the negroes in Geor- #la left the state this year. This movement has been duplicated in other sections of the south. Iven those negroes who have not left the territory south of the Mason and Dixon 1ine have shown a decided ‘in- clination to abandon the country dis- iricts for the cities and to work in factories rather than in the fields. ¢ Many sectione expect to find at le-; 20 per cent of their former field hanfs missing mext epring. There Is atl Some call for negroes in the northern industrial sections and many of the southern workers who were expected to turn homeward when c:;:‘d weather t in are still in the north. ®The campaign to induca white set- tlers to go to the south, either a: owning or tenant farmers, Progressed far, although conslder able additions fo the cotton Krow population of Texas are expi3tol s winter._ Hankers to Al pats - cxperienced planters declare evenihe shortage of labor will not serve to reduce the acreage apprecias Tl becauso planters, influenced bigh priaes, will undertake to tiil : much woil as poskible. Bankers who in previous years have d!!eourl[:l large cotton plantings, at prese 'y aftora sl the ald are Gikposed mers (o plant all the anters. upply, and that ¢ Y which can be grown in 1924 WAl fnd & ready market at most profitable prices. The carryoyat from the 1922 crop was 2.573.0 hales and heretofore there has nn\fll' been & situation in the history o the industry where there was o carryover. 8 ha ' destruction wrought by the boll weevil has brought about a com- plate revision of conditions in the Cotton industry snd in cotton spin- Ding and the 1924 outlook undoubls edly depends largely on the (‘xl-hll\ %o which growers can combat this pest. Mining and chemical | panies in various gections o “ountry are preparing to turn out a heavily Increased supply of calcium arsenate, which has been found of- fective in the fight against the cot- ton parasite. Push Boll Weevil ¥ " In Georgla arrangements already Taus been muda by tha commissioner of agriculture to buy large quantities of this insecticide at 10 cents a pound Yor alstribution to Georgia planters at cost. Southern congressmen and senators now are discussing the pos sibility of federal aid in wupplying the polson to farmers, and strong pressure is being brought to bear 10 have the tariff on arsenic removed before the next planting season. As to the present cotton =upply, widespread and detailed reports from the entire south show that in the greater number of cases farmers are toth wiiling and financlally able to hold their stocks for higher pricos. This is especially true in dlstricts whero co-operative marketing asso- clations have been most active. Buyers are combing the country for odd lots, for spinners have been galvanized into action by realization that there is only enough cotton in sight to keep 75 per cent of the world's spindles turning until the 1924 crop comes on the market. Demand for goods from China and Indla is growing, as stocks are short in the far east, where the long ~on- tinued boycott in Indla against British goods has kept deaiers from busing. RUSSIA IS SHORT OF FARMING TOOLS U. S. Commerce Iiepnrtment Re- ports Dearth of Good Machinery. treme deterioration of agricul- tural machinery ~and implements, particularly heavy machines, Illke thrashers, seeders, hay mowers, etec., in soviet Russia has been established from report received by the com- missariat of agriculture from differ- ent parts of the country, according to abstracts from Bconomic Life made by the eastern European division of the Department of Commerce, for the accuracy of which the department is not responsible. The decrease in the supplies of serviceable machinery in the northern section of the country (proyince of Viatka, Votiak, Perm and the Maria terrirtory) amounts to 80 per cent of stocks available in 191 In the provinces of Simbirsk, Samara, Saratov, Ufa, Tsarytzin, etc, where wheat {s extensively raised, the de- crease equals 20 per cent, and in the Crimea and the flat lands of the Ukraine the shortage of machinery and implements amounts to 30 per cent. Notwithstanding the poor condition and the obvious shortage of agricul- tural machinery, the farmers are not ordering new machinery, due to lack of funds. This is proved by the fact that of the machinery and imple- ments offered at 20 per cent below cost by the committee of after-famine relief only small parts of the aliot- ments have been taken by the farm- ers, ranging from 7 to 42 per cent of the amount offered, and In some in- stances only small fractions have been taken. An appropriation of rubles is asked by the commissariat of agriculture for the re‘r 1923-24 for restoration of mgricultural machinery, at whieh rate of financing ten years will be uired for bringing up the ricul- tural implements to of 1916, Safe Investment First mortgage losns in denominations of $250, $500 and $1.000, secured on improved real estate; interest 6} per cent, payable semi-snoually. TERRELL & LITTLE, Inc. Realters 3208 M8tk Bt. MW, e [y - BY WILLIAM F. HEFFERNAN, Bpecial Dispateh to The Star. NEW YORK, December 1.—Trading on the curb market continued at a lively pace throughout the olosing sesaion of the week, with the upward tendency still predominant, consid- erable attention was given recent iIn- dustrial favorites, and despite heavy reallzing sales several new high ree- ords were established. Centrifugal Cast Iron Pipe, at 24%, Wwas more than 7 points above the closing quotations a week ago. United States distributing made @ new top at 34, where it was up five points on the week, on reports that a subsidlary would take over the entire anthracite tonnage of the Pennsylvania Coal NEW YORK, December 1.—Follow- ing is an official list of bonds and stocks traded in-on the New York Curb Mar- ket today: Bales in thousands. Allied Packers Am Gas & EKle Am Roll Milla Am T & T 08 conda 66 . Anglo_Am_Oil Amo Bim TAw 8iga 00 AtG & WISKBEDs Close, 6014 it 101 101 88, . o 08 Ch Rock 1 & P Ol Cit Ferv 7s C .8 " B Deere ‘& Co Tia: Detroit City Gas Fed Sugar Gs Fisher ‘Body G Fisher Body 68 3 Robt Tn "28. Guif 0li of Pa & Int Match 6ls wi Kan City Term 81 1 Kennecott Cop T Libby McN & Man Power s New Tan Am Pet 8 Penn Power & t 53, Sisi Pub Ser of Pub Ser Bl B ata e r B 1002000 B N R 0 e kT O DR B B N = o e 23% ¥ Mexican Govt 5s '94 Mexican Govt @s. Rus Govt ofs b Rus Govt 8l ofs.. 2 Bwise Gost § Swiss Govt s 5 88 U 8 of Mexico 4s.. Sales BTANDARD OIL ISSUES. in units, ‘ 100 Atlantic Tobos . 10 Borne Scrymset i and P Iy i Gatena' Sigoat 0 Gaiena Signal Oi 500 Humble O°& R new 3 290 Imp 011 of Canadn. 1 100 Inter Pet Co, Ltd. Magnolia' Pet ... FEREE & aaS St~ c=Bro2233233 10 8 0 Ohlo ... 110 35 8 W Peon ¥ L .0 00 Vacuum Ol few .. #ales INDEPENDENT 01l STOCKS. in hundreds. 2 Carib Syndi r rvice pfd. rvice ptd B R cfe Cit. Sery C weeip.. 20 Creole Syndicate .. 20 Fegeral 011 3 Granada 0il . PRICES OF BUTTER | UP DURING WEEK Gains Made in All Markets, But Boston—Decrease in Ca- nadian Receipts. By the Associated Press. CHICAGO, December 1.—Pricesad- | vanced at all the principal butter| markets except Boston during the week, immediate supply and demand being the controlling factors. Deal- ers ‘had little difficuity in keeping fresh receipts moving, and with- drawals from cold storage were abowt 1,600,000 pounds lighter than a year ago. Since prices are comparatively high, few operators expect radical advances. There was a decrease of Canadian! arrivals at New York, which received 54,497 pounds. Chicago, where vir- tually none had arrived before, re- ceived 157,710 pounds. Dua to En, lish market conditions, only 600 casks w $enmark arrived at New Y. r may affect the foreign situation. al- though much of this will go to Eng- land. Other arrivals at New York amounted to 251 boxes of Irish and 1,100 boxes of Argentine. Range and closing prices. whols- sale, 92 score butter, during the week, follow: Chicago, 1 higher at 51%: New York, 1 higher at G3%; Boston, unchanged at b61%; Philadeiphia, 1 higher at 54 SUGAR WORKERS DROPPED. PHILADELPHIA, December 1 (Spe- cial).—Business is quict in the looal ar_ refineries and some workers have been laid off. Beet sugar has come into active competition with the cane product here for the first time. It is being shipped in hero in car- load lots. LIVERPOOL COTTON. LIVERPOOL, December 1.—Cotton, : prices easler: good mid ;. tully middling, 21. middiing, 21.14; low middiing, 00 ordinary, 19.24; ordinary, 18.74 | iales, 4,000 bales, 'including 2,000 American. Recelpts none. Futures closed ‘barely steady; December, 21.29; January, 21.31; March, 21.30; May, 21.10; July, 20.53; September, 17.80: October, 17.00. 3 —_— The original copy of the Declara- tion of Independence is kept In' the Congressional Library. $100 to $6,250 Interest Rates 63;% and 7% All loans secured on modern homes and busi- ness property in best northwest sections of the city. "Ask’ for Informatien MORRIS CAFRITZ CO H 913 15th St, N.W. munml Company, the Hillsdale Coal and Iron Company and & number of asso- clated concerns next April. The demand for Mexican govern- ment bonds, based -on announcement that the Mexican financing plan would becomg effective next week, broaden- od out' today and took in the 3 and 4 per cents, which had not shared in the eatller improvement. The 6 per cents of series A sold at new high prices for the year, around 621§. Oil shares got above the Friday final, but were slightly under thelr highs for the week. Standard of In- diana was dealt in just under 60, while Pralrle Ol and Gas moved up a point or so. Buylng of Southern States was again heavy. the stock getting close to 23. In the mining roup Wenden, St.| Croix and New York Porcupine were actlvely taken, but price changes were unimportant. 8 Marla 4 Mex Papuco ... 18 Mount Prod .. 12 Mutual Oll ad N 1 P I IO PR FREF FF o & Gleasonite Trod Co Gold Dust Cofp w { 2 Tire .. vana Tob pfd Hud & Mana R R Hudson Co ptd. Leader Produc ... MeCrory Stores new Murcnbank Y Tel Co pfd & Tiltord N PRPIRIN IS ! ofp ... R rp pfd Read Conl rix wi. Reo Motor . 8o O & I new Stuts Motor 9. ing_new W 1 Willys Corp new wl MINING. Arisona Globe Cop, .0 Reicher Extens Boston_Mont ¢ Butte N Y - w S mmanBamieBipan! utte N Y .. Canarlo Copper ... Ceatral Amer Mine Cons Cop Mines aw Harmill Div 47 Hawthorne .. 0 70 70 Moh| N Premier Gold Min. Tted THill Florence.. .03 &t Croix Mines ... Siiverdaie . ... iiver Horn Min 3 8o Am Gel Kpearhead EQUITABLE Co-Operative Building Association Organived 1879 43¢ YEAR COMPLKTED Assets Serplas . Save as You Earn —make up your mind to lay pArt of your earnings. Tt is the ad - Soancially. 1ae e Joln Subseription for the 85th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915-F St. N.W. JORN JOY EDSON, President FRANK P. REESIDE, Seey. CAPITAL BUT $250,000. Defunct Brokers Said to Have Owed $1,000,000. NEW YORK, December 1.—Al- though the cotton brokerage firm of Beott, Norrie & Co. belleved to have owed approximat $1,000,000 when it failed two weeks ago, the en- tire capital of the concern was only $260,000, sting mainly of claims which Carlisle - Roundtree, manager, inherited by & circultous route from an earlier bankruptey In which he was involved, Only a small part of the capl! was in cash. These admissions were made yes- terday by Roundtree in the investig: tion_of the cotton brokerage fallure by Referee Harold P. Coffin FIRST MORTGAGE INVESTMENTS 6%% Denominations, 000 and upward. Secured on I Properties ly JAMES F. SHEA 643 Louisiana Ave. N.W. 8500, $750, L) MONEY TO LOAN ON FIRST MORTGAGES In Convenient Denominations For Investors Interest 6%:% Main 912 ifteenth Strect The Satisfaction of Safety OUR investments in our First Mortgage Notes will always be a source of satis- faction to you. You will know that the proven system of safeguards protecting them makes these in- vestments 1009 safe. Our constant super- vision of the loan until final payment of the notes assures yott not only prompt payment of your interest, but also the safe return of your principal. You know, too, that based on the oldest known form of security—real estate—they do not fluctuate in value. Their great sta- bility makes them entirely free from market changes that affect other forms of securi- ties, Could You Ask for More? Swartzell, Rheem & Hensey Co. 727 15th Street N.W. 54 Years Without Loss to an Investor —this MORTGAGE,_LOANS ESTATE REAL SALES AUTOMOBILE INESURANCE NAGERS OF ESTATES lA'{l“?D RENTAL PROPERTIES o THlRTY-OfiE YEARS AGO TODAY business was founded Through all these years we have special- ized in conservative . FIRST MORTGAGES during which time nq investor ha’s sus- tained a loss in either principal or interest. From a small beginning we have grown by continued hard work, conservative management and strict atten- tion to the needs of our clients. . Experience makes possible the establishnlent of sound principles in every business. methods are correct and which are incorrect, thus giv- ing us conclusions upon which to base our future actions. It proves which Keeping in mind those sound business principles, we shall continue to put for_th our best efforts to render the most complete and efficient service possible. B. F. SAUL CO. 1412 Eye St. NW. FINANCIAL T Loans| Money to Loan Becured by first deed of trust on re-' estats, comm Pre: taterset 804 ey Joseph L Weller St & § 2% Fi First Mortgage Prompt Action Thomas J. Fishsr & 88 15th Mtreet 7 First Mortgage 7 0 Notes Secured on residences in the Northwest section of the city. v Inc In 17 years there has delay n¥ihe payment of any or interest. Never a Loss Each loan for less than half the market value of the property. Booklet on Request William S. Phillips Realtor 15th and K Sts. N.W. Would You Like to Make a Trip to Prosper-town? Take-that dividend or pay check you received on the first of the month and arrange to set aside part of it AT ONCE for the purchase of a First Mortgage Note paying you 6% per cent per annum. This will immediately start you on the road to PROSPER-TOWN, and “you’ll be surprised” to see Margin of Security how rapidly “you’ll arrive.” We D d to Safeguard Cl:én:n l.l:lve:t‘;nz in Our 7% First Mortgage Notes Insures abeolute safety under asy and all s y condif It Upholds also our established recsrd of Dever Baving loat in elther principal or S rarsatecd ities nd Iasurhace’ policien furnisb 4 with notet Notts of $100, $250, up to $5,000 Now on Hand For full particulats aj to Mr. oot Lobs Depariment” CHAS. D. SAGER 934 14tk N.W, Main You can arrange for partial payments —but call us up or write, and let us tell you the whole story. SHANNON - & LUCHY MORTGAGE DEPARTMENT 713 14th Street N.W. Main 2345 ] 5 ANNOUNCEMENT Concerning the Purchasability of Capital Stock in Washington’s Greatest and Most Substantial Amusement Enterprise, the Nationally Known CRANDALL THEATERS In Response to Many Inquiries and in the Belief That the Public Is Entitled to Participate in the Profits Which It Helps Create, It Is Announced That the Public Will Be Allowed to Subscribe for a Limited ‘Amount of the Capital Stock of CRANDALLS L—_18TH AND COL. RD Capital Stock, $350.000 $200,000 Pref.; $150,000 Com. $400000 Pref.; §250,000 Com. The Most Beautiful Playhouse in | Theater Now Nearing Completion the National Capital. With a Directors: Seating Capacity of 1,600. Directors: Harry M. Crandall Pres. Crandall Theaters A. E. Beltzel Capitalist M. D. Rosemberg Attorney at Law Howe Totten Capitaliat A Successfully Operating Unit in | the Ohain of Fifteen Crandail Theaters in Washington Vicinity. CRANDALL'S TIVOLI L_4TH ST. AND PARK RD. Capltal Stock. 8850000 Attorney at Law Avon M. Nevius Riggs National Bark Franklin V. Killlan Proprietor Franklin Joseph P. Morgan Crandali Enterprises W. Wallace Chiswell Peoples’ Mut. Ben. Insurance Co. Charles E. Burhans Attorney at Low ¥rits D. Hoffmann Comptrolier Crandall Theaters J. T. Mayfield National Eiectric Supply Co. The guaranteed 8% Cumulative, Preferred Stock in these theaters will be sold at $100 per share, par value. With Each Purchase of Preferred Stock a 20% bonus of Common Stock will be issued. That is, one share of Common Stock will be issued free with each five shares of Preéferred Stock bought. No individual sales of Common Stock will be made. These preferred issues will be redeemable, at the op- tion of the company, eny time after Jan. 1st, 1928, at $110 per share, plus accrued interest, if any. Purchase of these stocks may be all cash or upon in- stallments, with a 20 per cent initial cash payment at the convenience of the purchaser. This offer represents an opportunity to participate in the profits of A SAFE INVESTMENT IN A SOUND INSTITUTION NOTE There is no stock for sale in Crandall’s Metropolitan, Central, Ninth and E, Savoy, Apello, Avenue Grand or Yerk eaters. in Washington, or the Crandall Theaters in Cumberland, Mar- tinsburg or Roancke, these issues having heen completely ab- sorbed large interests when each house was established. Use Application Blank Beléw or Apply te the EXECUTIVE OFFICES THE CRANDALL THEATERS Frits D. Hoffmann, Comptroller 934 F STREET N. W. METROPOLITAN THEATER BUILDING FOR STOCK APPLICATION OR FURTHER INFORMATION Subscription Blank for Steck CRANDALL'S AMBASSADOR AND TIVOLI THEATERS, INC. = shares of the iteed 0% ulal ook of Oral ' T SERTA me? I Sl to be pald in equal install; o , soral out portien relaf Mase {s made with the undersianding that o gt Qg g Mg P W that the common etock is met purchasable individually asd 15 met retirable. Signature of Purebaser .............o..... " No Crandall Theater Ever Passed a Dividend " fom made T e A R R S G R R