Evening Star Newspaper, December 23, 1923, Page 20

" 20 FIN Decided Slump in 1923 Trading|(ITL00K FOR 194 | °|" DECLARED BRIGHT On Washington Many Favarite Issues Have Also Dropp ANCIAL." Stock Exchang e in Value—Bank Gives Bonus to Em- ployes—Unlisted Securities Prices. The a 1923 drawing | decided | on a rapidly a trade Exchange, <hows. | ap- year will show volume of Stock ar to Date to stump Washington Mhe in . st perusal of At the ment sale proximat 5. in arrears, | while honds sold thus far in 1923 falling off of approximately m are shares show & $550,000, e [ fac the 1 ex shaves aggre- this yvear approximate only 33,188 of popularity the of Washington Gas. and Rail- common and preferred stock, the to the extent of almost respousible e exception of Rail- the favorite aliy have suf- vear total local shares ing on t 9.1 they hange | sated while o date share 1 wamed issue low of with 687 and 3 104, 97 ctive 1i% and and S1 147 and 15 . 48 Lanston Mier 0. Howeve * of 1922 av number the ex W of “lows” for ceptions being shington Gas most came common, : a inasmuch Xelusively ftal appr trading as it is to public rction first iably. as did All fssues or Com- cd almost iy issues. ronfi ' the Washing- stric and the and Potomar local and of hand. gained hoth e other m populari Bank Directors o have \ ployes Get Honuw. olumbia National d_their regular 3 per cent, pay- ) stockholders of stock £ a cash award of their annual sala employe of the in itself, \diture of wi in the thou- National Bank has outsanding local in- ar. Revitaliza- ~d simul- | on of J. Stry- respec- fon of Stry- - adminiy vested in Mr e incr ASK TWO MONTHLY. REPORTSONGOTTON Delegates Also Favor Three; Regional Statisticians for Agriculture Department. Afte twn-day conference on the pe and methods of collecting and distributing reports relating to the eotton crop, a committee represent- ing pia s, exchanges and other in- terests recommended to the Depart- ment of Agriculture today that two reports be issued each month from {in | Mefropoiitan Club 44 {the same as and service amplified. are not available for publig consumption at this time, some idea of the bank's growth can be had from a comparison of the stock's sell- ing price. At the close of last vear it_could while the sheet shows the 260. Tt ings soared While statist exchange to be current local asked price is capitalized at $250.000, with a_ corresponding _surplus. and un- divided profits of $115,000, and has maintained a 12 per cent annual basis for a number of years. in in Federal Ratio. The combined_federal reserve ra tio” stands 75.7 per cent, com- pared with 75.3 per cent a week ago. and with 72.8 per cent a year ago. This week's gain of half a point, which reflects a decrease in deposits, contrasts with a loss of 2.3 points in the corresponding week of last year. The cach reserves declined from 93.649,000 a week ago to $3.16 ,000. There was a similar loss & ar ago. Demand for gold coins or . Christmas and the increase in gold notes in circulation probably ac- count for both losses. compared ar ngo. > fably after the holidays e reserve ratio correspondingly The decreasa of ments owned was the result of redemp tion of Treasury certificates of indebt- edness. — Holdings are now less than one-filth as large as a vear a increase of total bills on hand has only partly offset the liquidation of invest- ments. Deposits §52,000, & A eirculation $2,295,436,000. Prices of The following lates nd ‘asked” prices for unlisted securities are printed for the guidance of holders of these Issues thy v to $1.882.- 21,000 Notes increased $30.000,000 nONDS iid. Asked. Arms & Navy Club 5s. S ity Club s, W N n Com'l & Savings Bank Trust & Mortgage Washingio Woodridze & Langdon Sa FRESH DECLINES IN GRAIN PRICES Bigger U. S. Crop Figures and Heavy Receipts From Canada Depress Values. By the Associated Press CHICAGO, December 22 —Liquidat ing sales on the part of holders of wheat led to fresh declines today In prices here, but rallies ensued as a result of pre-holiday evening up of accounts. The was unsettled at vesterday's finish to 1, lower. May 1.06%: to 1.06% 1.05 to 1.05%. Corn fin- ished at a range varying from 3% cent decline to 1:a% gain, oats at 3% cent off to a shade advance, and provisions 10 cents lower to a rise of 2 cents. With Canada sending much wheat into this country and with domestic visible supply figures eloguent of a larger crop than estimates had in- a cent and July have been procured at 225, | The | to | Tax Reduction Possibilities Already Boom to Business, Expeljt Announces. Despite predictions to the contrary, there are certain favorable signs ap- pearing on the business horizon which portend good business for the |coming vear,.says Frank Greene In his monthly survey of business con- ditions in the January number of the ion's Business. ortions of the volume of the and Indust in the past year become more clerly defined and finally as the tumult and the shouting of the business prophets be- come: tilled while they busy them- selves in preparing their forecasts for th v year, it Is beginning to be more clearly perceived what a really good year the country as a whole has had in the past twelve months. | As this has occurred in the fa some gloomy _predictions, from | April onward, there seems to be a | feeling growing in the public mind that some of the longer range predi | tion of poor business next year. [ mainly because it will be'a preside tial vear, ma KO _ astra Just {widely as 'did those for the latter pu of 19 Tox Views Help Buxinews. “One of the favorable elements that will tend to help business during th coming e is the a ta Seeretary dent © fdge on t subject of tax | reduct o which it is evident the ountry has rallied without regard to | political affiliation. | “On “the unfavorable eide coming early in the year might be ranged the expected demand by the soft” coal miners for further concessions |may be that these demands will pro | to be smoke screens designed to pro- itect the present scale of wages, but | regarding this it might be sald that {the irresistible logic of costs is bring- ing about correction | MinriViewing the bustn |during the past eleven ! Greene s that “any {seen all records broken in the build- {ing trades. in automobile manuf: ture, n iron output, In‘*live stock | marketings, in raflway volume, In .value of transportation, in general {levels of wages and employment, and |the weather din prol hly sees a ynew high record set up in holiday trade, cannot be regarded as just an | ordinary vear Big Yenr for Reilroads. | ““As already intimated. the railroads have done very well this year. U loadings are 15 per cent better than a8t vear and 9 per cent ahead of the | record year, 1920, Thie is reflected [lll the earning: | for instance, showing a gain in gross receipts of per cent over October last: operating expenses increased Ly nly 4 per cent and net operating in come, which is what Is left after all expenses o or stock divi . was | better than last year, ‘The total net operatin Octob, in fact, niy been ex- tceeded in three months in the «even years, and two of those months were the war yvear 1918, ating income for ten months this year will run to $821.000,000 an increase of 34 per cent over the last vear. If | the gains for ten months In gross re- ceipts and net operating income are maintained for the year a total gro. on thd® class 1 railroads is indlcat of $6,500,000,000. “This {s far in advance of anything previously noted, but applying the 34 per cent increase on net operating in {come over last year a total of only 1$1,013,000,000 is reached. This, of course, Is far better than last vear, ut compares with the net operating |income of $1,040.000,000 in 1916, when ZT0SS receiDls were 44 per cent less In othe tha railroads had to do nearly double the business real p country's trade situation months, Mr. vear that h; ncome for | nue than they did in that year. Gain in Bank Clearings. “Eleven months’ bank clearings this | year at 117 cities have totaled $361.- { 321,000,000, & gain of 5 per cent over {last year, but a decrease of $.7 per | cent from the peak vear in pricesand | clearings of 1820. “New York city {clearings have lagged behind the rest of the country, losing 2.2 per cent | It ! those for October, | last | Net oper- | have { | they did in 1916 to get less net reve- 1 RANGE OF MARKET Mr. Greene points out that “as the | | mmy ‘The chart anove shows the high tive stocks dealt in on the New York of July, 1921, up to and including t Solid curve represents 20 industrials section indicates volume of sales of compiled by the Wall Street Journal The Year 1923 to Da T 1 tpto Sales. BONDS. $20,000—C. and P. Tel of Va 131,000—Washington Gas 6s na. and ot er K.R. and P. Telephone 1st 5s 0—Capital Traction 1st 5s... nd Suburban Ry. 1st bs getown Gas Lt. 1st R. 18t Power 1st 5s Power cons. 5s . Power deb. s, Power gen. 68 Power 6s, 1953 9.000—Wash., Balto. and Anna; 165,000—Wash. Gas Light gen. 5s... 346,000—~Wash. Ry. and . cons. 4s 34,000—Wash. Ry. and Ele 55,200—Washington Gas 7% 48.800—Pot. Elec. Power ref. 1,500—Dist. of Col. Paper Mfg. 63 16,500—Riggs Realty (long) 58 5s.. 600—Pot | 87.700—Pot 27,200—Wardman Park Hotel Bhares. STOCKS, —Capital Traction —Washington Gas orfolk and Wash. Steam . Ry 6s... bo Terminal Taxicab com. —Capital National Bank. ommercial National Ba fstrict National Bank.... arm. and Mech. Nat. Bank, §6—Federal-Americ: 27—Liberty National ational Bank at. Metropolitan Bank —Riggs National Bank.. 5 izgs National Bank rights. econd National Bank. mer. Security and Trust.. 394—Continental Trust Bank. March 20, 10538 N\ j HER i n.illl"' g | el | | b nd low. by weeks, of forty representa- Stock Exchange, from the first week he week ending December 22, 1923. and outline curve 20 ralls. Lower al ks. Averages used are those te on the Washington! Stock Exchange. Furnished by W. B. Hibbs & Co., Hibba BI nd including Friday, December 21, 1923. Close. 933 100 18t Gs. . Auto, Rail and Building Inter- est Put in Orders—Some Buyers Waiting. By the Associated Press. NEW YORK,. December 22.—The steel market is unsettled, and in some quarters buyers are holding off in hopes of a lower range of values. Nevertheless, on the whole, business has glven further signs of broaden- ing, witih some substantial sales re- ported, especially by automobile in- terests, the rallroads and consumers of structural material, who appear to have made up their minds that pro- ducers are not going to lower the values for the first quarter of mext year at least. Pig iron demand was slow but prices held steady. Copper Sales Slow. Copper ruled quiet with increased offerings from second-hand toward the end of the week. Domestic cor sumers are supposed to be well cov ered for the next two -months, it s bglleved that some copper will have {0 be purchased against March requirements, and that there will be | a good demand for the secand quar- ter. Tin eased off a little. Operators were fair buyers. but consumers’ de- mand was still light. Review of Other Metals. Lead showed a good advance, and leading producers are said to be well booked ahead. There is little avail- able for prompt shipment. Zinc was firm, with & good demand from consumers and operators and on the firmness in London, Antimony was strong, with offerings for shipments from and a good demand for spot afioat 20-POINT ADVANCE FEATURE ON CURB iWeek Sees Sharp Gains, But | Many Are Not Maintained. 0Oils Active. China and By the Associated Pros. NEW YORK, December 22 —This {week’s mavket on,the New York cnrb | was one of wide fluctuations and ac- {tive trading in many groups. Indus- {trial issues attracted increased in- | terest because of various movements in both directions. A strong feature | was Gillette Safety Razor, which first | lost a good part of this gain toward " {the end of the week. Durant Motors was also strong, moving up about 4 Radio common_ held a prominent position for a time, selling at 4%, a new high of the movement. Reading but rallied in the following day: Reading rights moved in the same way, a decline early In the week being followed by a recovery. Cen- 73 | trifugal Pipe, after falling from 31 4,600—Wash. Market Cold Storage 6s.. to 2813, had a sharp advance. There were wide movements also in many of the petroleum issues. Penn Mexico Fuel, which closed a week ago at 28, rose to 45, and Solar Re- 4 | fining moved up from' 169 to 174, At- at n National Bank of Washington. lantic Lobos rose from 213 to b'%. The advances were said to be due al- most wholly to the improvement in ithe oil situation reflected in the higher prices established for crude oil in many flelds. The gains, how- j ever. were not maintained. —_— OIL CHARGES DENIED. ‘Wofford Company’s Claims. | ATLANTA, December 22 —Denial |that it is dominated by any other oil company, or that John D. Rockefeller, or any of tha original stockholders lighe! advanced nearly 20 points to 284, but 4 | Coal new stock yielded more than 3 | s | points In the first half of the wee {Standard of Kentucky Replies ta | but | | { | FINANCIAL, Money to Loan Becured by first deed of tiust on real estate. Prevalling interest and commission. Joseph I Weller £:,7%% & § ¥ FLOUR PRICES STEADY. MINNEAPOLIS, Minn, December 22.—Flour — Unchanged; shipments, 38917 barrels; bran, 25.50a27.00. Wheat—No. 1 northern, 1.06%a1.09% ; December, 1.05; May, 1.08%; July, 1.09%. Corn—No. 3 yellow, 63%a 63%. Oats—No. 3 white, 38%a38%. Flax—No. 1. 2.41%8244%. FIRST MORTGAGE NOTES For sale. Consult us if you have avallable funds for investment. THOS. E. JARRELL Member Washington Resl Estate Board Woodward Bldg. Main 766 OFFICE and STUDIOS For Rent CITIZENS BANK BLDG. 1336 N. Y. Ave. N.W. 79 First Mortgage Notes Secured by Srst deed of trust on hY sale in denominations of $250 to $5,000 CORY & CORY, 907 1ith N.w. MORTGAGE LOANS Denominations $100 to $6,250 Interest Rates 614% and 7% All loans sccured on modern homes and busi ness property in Y, northwest sectio’,» the city. Ask for Inter.aation FIRST MORTGAGE INVESTMENTS 6Y2% Denominatios 3500, $1.600 ‘and upward. Secured on Improved Properties Only JAMES F. SHEA 643 Louisiana Ave. N.W. 3750, of Mortgage Department 913 15th St. NNW. Main 617 INVEST IN FIRST MORTGAGES They are backed by actual value. “Actual Value” consists first Oveb of land, and secondly, “Improve ments,” from which the income the which is secured by an insur- Quarter of a Century IVithout is derived, and value of ance policy. a lLoss B. F. SAUL CO. Main 2100 ve St. N. W, MONEY TO LOAN ON DISTRICT OF COLUMBIA AND CHEVY CHASE, MD., RESIDENCES of the Standard Oil Company of New | Jersey, owns or controls any of its | stock was contained in a separate answer filed today in federal district court by the Standard Oil Company {of Kentucky to the complaint of anti- | trust law violations recently lodged | against it and three other oil com- | i panies by the Wofford Oil Company. | The answer also denies charges that | dicated, the buying slde of the mar- j ket appeared at least temporarily to | be losing power to retain adherents.| ‘“The movement of prices in Novem- | | Dimming of prospects for a German |ber, as indeed in the preceding thres | food loan, together with word that 'months, was evidence of the. beties | ifrancs were at & new low record.|feeling which has shown itself since {counted also as a bearish influence, | midsammer. although it alon rehmi | and so likewise did the fact that de- |the influence of the immense crop | liveries here today on December con- | damage Gone at the south. becanss | tracts were again of liberal volume. ? sl July to November instead of one, as present The commit recommended there be appointed three reg! visory istictans, one for the southeastern states, s centr: states and southwestern states, who should be made members of the crop-reporting board from last year. whereas outside of | that center the gain is 15.4 per cent. | 5% Interest 85—National Savings and Trust. 7—Union Trust g A —Wash. Loan and Trust.. 474—Merchants' Bank. and Trust.. 20—East Wash. Savings Bank. 30—Sec. Sav. and Com'l Ban| 20—Washington Mechanies® 46—Firemen's : Insurance 100—Columbia Title Insurance. th, or sup: H. L. RUST COMPANY 912 15TH STREET N.W. MAIN 6888 The committee recommended con- tinuance of the issuance of reports before the close of the cotton ex- changes, as at present, but that the reports be issucd later in the day to xive adequate tjme for consideration by the crop-reporting board. The department’s plans for reports on intentions to plant were favorably recommended, with the suggestion that the report be made not later than about March 15. Establishment of a more frequent and complete price-reporting service on cotton seed was recommended. COTTON SELLS OFF ‘ IN SATURDAY DEALING Goods Market Also Encounters Holiday Dullness—Close Is Barely Steady. ORK, December “The cotton market was very quiet today and the little business reported seemed to be chlefly of a pre-holiday character. Fluctuations were corre- «pondingly narrow. with January solling off from 34.97 to 3472 and closing at 34 The general market osed barely cteady at net declines of 3 to 9 points. Tho market opened steady at an advance of 6 to 11 points and sold about 10 to 15 points net higher dur- ing the early trading on very bullish spot advices and firm Liverpool cables. December touched 36.25 at the open- ing, and March sold up to 35.36 on the early advance, but these figures evi- dently attracted realizing or scatter- ing liquidation, and prices sagged off 10 35.98 for December and 35.09 for March later In the morning. Reports from the cotton goods trade showed little or no change in the situation and a continued small vol- ume of business as usual during the hollday season. It is reported that the ordinary slacking down of trade in cotton goods at this season of the year has been intensified to some ex- tent by unseasonably warm weather. The amount of cotton on shipboard awalting clearance at the end of the week was 124,000 bales, compared with 150,000 at’ this time last year. Cable. advices received in the trade liers 4oday stated that the Indl. crop was estimated at 4,913,000 bales of 400 pounds gross. New Orleans Cotton. NEW ORLEANS, December 22.—Cot- ton futures closed steady at net de- clines of 6 to 14 points. Close—December, 34.98a34.99; Janu- ary, 14.90a34.95; March, 35.05 all; 34.91a34.96; July, 34.22a34.27. Spot quiet, unchanged; middling, 35.00. CHICAGO STOCKS. CHICAGO, December 22.—Armour preferred, 80; Libby McNeill, 4%; Swift & Co., 1.01; Swift International, 191 Unlon Carbide, 56%; Wrigler. 39: Yellow Manufacturing B, 97%; Tellow Taxi, 62 S The resulting weakness of December increased to such an extent that the price at one time fell to within 2 cents of the lowest quotation for the 1923 crop. Corn and oats were relatively strong owing to damp weather un- favorable for hastening the movement of the corn crop. As in the case of wheat, though, deliveries on Decem- ber contracts here had some bearish effcet. Firmness of quotations on hogs sustained the provision market, des- pite efforts of foreigners to induce @ decline. DENVER MINT- COINAGE SHOWS LARGE INCREASE Output $40,831,000 Present Year, Compared With $15,600,000 in the Year 1922. DENVER, Col., December 22.—The coinage of the United States mint In Denver totaled $40,931,000 this year, compared with $15,600,000 in 1922, ac- cording to-a report issued by Frank E. Shepherd, superintendent. The purchases of bullion in 1923 amounted to $10,928,852.11, compared with $20,221,673.99 for 1922, The drop in the purchase of bullion was trace- able to silver. In 1922 silver valued at $11,435,788.06 was purchased, while Bhis year the purchase amoun ed to only $1,066,162.95. < The purchase of gold in 1923 show- ed an increase over 1922. The pur- chase for 1922 was $8,785,885.92 and this year was $9,862,719.16. LIVE STOCK MARKETS. BALTIMORE, Md., December 22 (Special).—The live cattle market rules easy, is to be expected at this time of the year, anq it takes first-class quality to bring top quo- tations, with receipts ample at the stock yards for all trade wants, but light on the wharves and mostly of common to ordinary stock. Quot: tions today at Light street wharves: Beef cattle, first quality, per Ib., 7a8; medium, 5a6; bulls, as to qual- ity, 4ab; cows, choice to fancy, 4%a 53; common to fair, 2a4; ozen, as to quality, 4%ab%; milk cows, choice to fancy, per head, 50.00a75.00; com- mon to fair, 30.00a50.00; calves, veal, choice, per Ib., 11a12; ordinary to me- dium, '8a10; rough, heavy, common, 6a6; sheep, choice, 5a6; old bucks, 4a¢l4; common, 2a3; lambs, spring, choice, 12a13; fair to good, 10al common, thin, 7a8; hogs, straight, sows, 5a6; stags and boars, 3a live pigs, as to size and quality, 8a9; shoats, 7a8. i NEW YORK, December 22.—Cattle, receipts. 195 head: steady. Steer: 5.26210.40; state bulls, 3.25a6.25; cow 1.4024.50. Calves — Receipts, non Veals, 13.50a14.00: culls and little caives, 6.00a7.0 grassers, 4.50a5.50. Sheep_and lambs—Receipts, none: firm. Sheep, 4.50a6.25; culls, 2,258 3.00; lambs, 8.60a13.50; culls, 7.009.00, Hogs — Receipts, _none; steady. Light to medium weights and pigs, 7.5087.75; pigs, 7.3527.50; heavy. hogs, 2.30a7,55, roughs, 6.2626.50, steady. the advance in g00ds has been an important lever in lifting the level of prices as a whole “The December 1 price level was, in fact, the highest since May 1 fhis year, the gain from August 1 was 4.8 per cent and the decrease from December 1 a year ago was only 2.5 per cent. From the low point of the depression of 1920-21 reached on June n the latter year, the present num- ber makes a gain of 26 per cent, but it was 36.6 per cent below the high point of February 1, 1920, though 54.3 per cent above the pre-war level of August 1, 1914, “Among the large industries. those connected with fuel and light, soft coal and petroleum were depressed In November, as for some months past. Soft coal production reached its peak in 1918, but output to date this year is only 6 per cent below that peak. November prices were the lowest of the vear, and hundreds of mines are reported to have closed, these, prob- ably the most of them, the more ex- pensive, thin-seam propositions. Turn in Olf Production. “Petroleum production definitely turned downward in November, but is is questionable whether this will prevent a further gain in stocks of crude now above ground, which have been increasing for two years. Gas- oline consumption has been enormous at the lower prices quoted, and stocks have certainly decreased. “The mild weather of November was favorable to the finishing up of many bullding jobs, which otherwise would have been carried over until spring, Weather permitting, a great deal of winter building is going to be done late this year and early in next. Qotober’s new plans were the third largest in the country's history, and November's total will show a consid- erable shrinkage from that, but the year's aggregate at 175 leading cities Will not be far from $3,100,000,000, an amount greater by $600,000,000 than in the hitherto peak year 1922, not far from double that of 1921, and seven times that of the war vear 1918, While all signs point to 1824 being another big year. Auto Production Doubled. “Automobile production has defled all predictions, and the estimate for the year, 4,000,000 cars afd trucks, will "exceed’ that of the peak year 1922 by nearly 60 per cent. “As the man of the Nation's Busi- ness shows, one of the ‘poorly situ- ated areas for some time past has been what was once known as the old spring wheat northwest. Ex- planation of this has been had in & report made to the Federal Re- serve Bank system by the chairman of the Minneapolis Federal Reserve Bank, who says that the depression there has been a working out of con; itionis generated by the great wai PACKARD'S NEW CAR. CLEVELAND, December 22.—The Packard Motor Car Company will an- nounce a new improved single six next Thursday. Price will be ad- vanced about $100. The new car will be identical in appearance with the present car. However, it will have four wheel brakes, heavier transmis- sion and more standard equipment. DRY GOODS SALES DROP. CHICAGO, December 22.—The Mar- shall Field Company reports whole- sale distribution of goods slightly less than last year. Collections equal to same period of 1933, cotton and ootton | 1,590—Mergenthaler Linotype 2.247—Lanston Monotype 3—Security Storage Co 523—Washington Market §0—American Com. and Savings 30—Banking Trust and Mortgage 260—Citizens' Savings Bank. 38—Departmental Bank $—Munsey Trust ... 200—Northeast Savings 46—Dist. Title Insurance. 176—Wash. Title Insurance..... 1—Chapin-Sacks 8 per cent prei * Cash. { RUMANIA TURNS EAGERLY TO POSSIBILITIES IN OIL American Participation Preferred to That of Great Britain and France, Report Says. By the Associated Press. BUCHAREST, December one of the big factors in dominant position in the Balkans, and the government’s decision to develop the oil fields with the aid of foreign capital will open up, it is hoped, big economic poesibilities for the nation. Economic necessity is now proving of greater concern to Rumania than political alliances and the practicing of unsound theories, such as maxi- mum_prices, export taxes and other restrictions at the expense. of foreign capital employed in the development of the country's resources. Rumania today has _title to vast areas of rich ofl-bearink lands, which have been leased so far only in small lots to purely Rumanian companies. The government now apparently real- izes that the best interests of the country demand that' these state- owned lands be intensively developed, and plans have been drawn up for drilling 3,000 welle on them dnrflni the next ten years, provided, of course, that foreign capitalists can be induced to come in and “carry the load.” Great Britain, and more particularly France, if only for political con- sideration, would like to extend their hold on the Rumanian flelds, but it is felt here that American participation, which would presumably be entirely non-political in character, would be preferable. _— FINANCIAL NOTES. NEW YORK, December 22—Denial is made that a part of increased cap- ital stock of Sinclair Crude Oll Pur- chasing Company is to be offered to the publia The United States government will withdraw $56,000,000 from member banks in the New York district De- cember 26. The Federal Sugar Refining Com- pany states Cuban sugar crop is ex- pected to prove satisfactory, aided by dry, cold weather, which came ex- ceptionally early this year. Canadian crude oil has been ad- vanced 10 cents a barrel to §. ‘Kaasas City Southern reports oper- ating income for November, $1665,535, decrease of §165,601. 1 41—Real Estate Title Insurance.. UNLISTED DEPARTMENT. 120 12114 70 246 40 38 Bank... 12 10 12 T 100 15, 15 80 terred.. 80— 20 ———— e STOCK DISEASE CURE ANNOUNCED BY GERMAN Britain Hails Report of Discovery as Herds Dwindle and Malady Grows. By the Associated Press LONDON, December 22.—Hope that |a cure for the foot ana mouth disease which s now ravishing cattle herds In England is at last at hand is held out by the Daily Express' Utrecht correspondent who reports that im- portant experiments are being made there by Prof. Pfeiler, a German, and a Dutch veterinary. Prof. Pfeller who has been working on the subject for years announced the discovery of the bacHlus of the veterinary disease. The professor and thy are now working out thetr theorles In the neighborhood of a_public slaughter house in Utrecht. The cor- respondent says the method employed is a‘subcutaneous injection of a spe- olally prepared serum. Dr. Pfefler belleves it will eventually save Europe the tremendous wastage she now suffers because of the plague of the diseas fon of treatment of affect- s is being hotly discussed in England, where there is a growing feelilng against continued slaughter of - herds, although many leading authorities still maintain that the killing of the animals is the only way to check the plague. However, there have been two recent instances of what are alleged to bs complete cure, and to these the newspapers are giv- ing great prominence. The chief veterinary officer of the minister of agriculture reported that he ~was satisfied with the results of the treat- ment. WOMAN HEADS BANK. Miss Helen V. Boswell Elected Vice President of Trust Company. NEW YORK, December 22.—Miss Helen Varick Boswell, for years prominent in business, politicA and among women's clubs, has been named vice president of the Locomotive En- gineers Co-operative Trust Company, which will start business December 29, it is announced. It was stated she would be the first woman to serve as & bank officer an eastern cite . l | |the Standard Oil Company of Ken- | tucky entered a_conspiracy with the {Gulf_ Refining Company, "the Texas Company and the Galena-Signal Oil Company of Texas, to crush the Wof- ford Company. | “Admission {s made that the com- | pany has seen its way clear to make contracts for the delivery of gasoline in Atlanta to wholesale dealers for periods covering a year at the time at a fixed price of 4 cents less than the tank wagon price. The answer also asserts that the price of 14 cents per gallon, tank Wagon deliveries. is low and not profitable and that the company would welcome a reasonable raise In price. $24,504,000 IN GOLD Federal Reserve System Figures Reverse Record-Breaking Withdrawal. By the Associated Pre: NEW YORK. December 22.—On Christmas day $24,504,000 in gold will be found in the thousands of Christ- mas stockings hung up all over the country. The federal reserve system and the Federal Reserve Bank of New York in figures published yesterday show that this amount was with- drawn during the week ending De- cember 19. At the New York bank the withdrawals of gold amounted to $10,339,578, the largest ever recorded for the week preceding Christmas. —_— Decrease Attributed Partly to Ne- groes’ Migration From South. EW YORK, December 23.—Lynch- |n¥. in the United States during 1923 numbered twenty-six against sixty- ohe in 1922, the National Association for the Advancement of Colored People announces. The decrease w. iaid to agitation for a federal ant I¥nching law and the northward mi gration of negroes. Mississippl and Florida were re- ported to 1 & Wit five lynchings each, Georgia was listed with four, Oklahoma three and Arkansas, Al bama and Texas, two each. Loulsi- ana, Missouri and Virginia each had one! COPPER AT 131-8 CENTS. NEW YORK, December 22.—The copper market has shown the usual pre-holiday dullness, and second- hands have shown a little more dis- position to sell, but no change has been reported in the asking prices of producers. - Quotations for electrolytic Tange from about 13% to 13%, but the outside price is more or less nom- inal so far as spot and nearby metal is concerned. Iron firm. —_— Passing the Buck.. * From the Boston Transcript. His Wife—You always act like & fool. 3 > &r“ Meek—Well, my Qear, 2 stways follow. your. advice, CORRESPONDENT FOR THE PRUDENTIAL LOAN CSURANCE COMPANY OF AMERICA “Y want it said of me by those who know me best that I have always plucked a thistle and planted a flower in its place wherever a flower would grow.” ABRAHAM LINCOLN. THIS IS THE SEASON OF ALL SEASONS —when the noblest sentiments should prevail, and our quotation above is prompted by a modest desire to imitate so great a man. May Christmas joy reign in every home and heart in our great National Capital! We pledge ourselves to an honest effort during the coming days to pluck the “thistle” of doubtful speculations being foisted upon an unsuspecting public, and to afford an opportunity for the “fower” of legitimate invest- ment to flourish by invariably offering CONSERVATIVE FIRST MORTGAGE notes— always amply safeguarded, and vielding the most liberal returns. SHANNON & LUCHS MORTGAGE DEPARTMENT 713 14th Street NW. Main 2345