Evening Star Newspaper, December 24, 1923, Page 15

FINANCIAL. IRON ORE DENIAND GROWING STEADLY Mining Engineers Already Plan Great Increase Next Year in Production. {in the first hour. BY J, C. ROYLE. Epecial Dispateh to The Star. NEW YORK, December 24.—Al- though the shipping season on the great lakes has only been closed a few days, steel and shipping men al- ready are beginning to plan for in- creased activity in 1924. The total tonnage of iron ore moved by lake freighters this year approximated «Ixty million tons, but there Is still a heavy tonnage on the docks on Lake Superior. Owing to the strong and continued demand, it is probable that all this ore will have been moved before the opening of naviga- tion next April. The raliroads are loading record tonnages for this time of year, and lake shipping men have been in- formed that preparations are being made to keep this activity up throughout the winter. With this competition staring them in the face, the Lake Carriers’ Association, com- prising nearly.all the large freighter companies, is making plans for early resumption of traffic next spring. It is predicted that 1924 ore ship- ments will' run from 10.000.000 to 20.. 000,000 tons ahead of the 1923 totals. 1f 8o, they wll break all records, for the best year recorded so far saw 64,734,198 tons moved. That record was established in 1916 under stress of war demand. Mines May Be Exhausted. + The preparations being made have been watched with close attention owners of low grade iron ore prop- erties. Mining engineers say that if the present rate of production is con- tinued a vear or two more the de- posits of high grade ore in the Lake Superior Tegion will begin fo show. signs of exhaustion. There are, how- cver, billions of tons of low grade available In that territory. The cost of handling this low grade product is high, but mining authorities and steel nen assert their confidence that ma- chinery and methods will be devised 10 meet the situation when it be- comes pressing. Steel demand, so far as the auto- mobile manufacturers are®concerned, Shows no signs of abatement. Offi- cials of the Ford company assert that the approach of the new year finds the plants of that company operating at a pace never before attained dur- ing the winter months. Employment in Detroit industrial plants has ad- vanced steadily the last three weeks to above 219.000 workers. Both the Ford and hevrolet companies are tuying materials and hiring men as fast as they can be secured. Ford Is r-\e‘n importing men from outside De- troit. Auto Increase Justified. The increase in automobile produc- tlon at this time of year is unprece- dented, but leading executives in the industry insist that it is justified. The coming vear. they assert, will surely see a strong demand for cars. and ‘each company is straining its facilities in order to have plenty of vehicles on hand when the spring trade opens up. > Last March, the Ford Company had orders for 235,000 cars, but could de- liver only 160,000. The disappointed buyers turned in many instances to other makes In about the same price field. This vear the Ford interests are determined to have enough cars stored up =o that no overflow orders will go to their competitors. It is already known that many astute manufacturers will make a special appeal to women buyers at the blg automobile expositions to be held herc and in Chicago and other cities shortly after the turn of the year. Suggestions by women drivers for comfortable and artistic interiors | have been given a lot of attention as has simplification of operation. Manufacturers have not been blind to the increase in the number of women drivers in the last two vears. This has been specially noticeable in the cities where congested traffiic has no longer any terrors for the ex- perienced woman driver and that in many cases the latter has the decid- . ing vote when It comes to picking out the family- car. BOSTON HAS PLAN TO AID BUILDING ! $1,000,000 Loan Proposed to Help People Toward Owning Own Homes. Special Dispatch to The Star. 3 BOSTON, December 24.—The Bos- ton conservation bureau in its' an- nual report has urged that the city ask the state legislature to authorize borrowing to the extent of $1,000.000 above the city debt limit to secure funds for aiding citizens to own their own homes. It is estimated that the million dollars would finance the luilding of 200 homes annualls through five-vear loans to each in- dividual builder. The ldea is to provide funds at a cheap ratc of interest, and the plan provides for the steady amortization of the principal. It {s felt here that the proposal will be vigorously op- .posed on the grounds that it would ‘involve the city in real estate loans, which savings banks will not touch. GRAIN EXPORTS OFF DURING PAST WEEK Commerce Department Reports | Only 461,000 Bushels of W’heg_t Shipped in Seven Days. Grain exports from the United States last week amounted to 1,093.- 000, compared with 2,491,000 bushels the previous week. Figurés made public by the Com- merce Department today gave the following comparisons between grain exports of last weck and those of the week before: Barley, 9.000 bushels. against 25 000 bushels: corn, 522,000, agains 484,000: oats, 4.000, against 138000; rye. 97,000, against 162,000; wheat, 461,000, against 1,451,000, Canadian grain shipped from United States ports amounted to 5,460,000, against 5,155,000 the previous week. ‘No_ flour exports were reported ' for last week from the United States. FISHER'S ;ECE INDEX. NEW HAVEN, Conn., December 24 (Special).—Last’ week's prices aver- aged 150 per cent. of prewar level. The purchasing power of the dollar s 66_5-10 prewar' cents. Irving sher, Yale economist, announces. NADA'S MEAT EXPORTS. WA, Decerhber 24.—Canada’s gports in November were val- $2,196,000 of which $421,000 nt to the United Stat The gdom_took $1,728,000 and les, $47,000. months ended with No- meat exports were $24 .- it $4,000,000 less than in period of 1923 - § i l & . G Georgel Poto NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office BY WILLIAM F HEFFERNAN. NEW YORK, December 24.—Oll stocks made further gains in ,the early qgalings on the curb market to- day, bl the usual dullness preceding 2 holiday prevalled In other parts of the market. The demand for Southern States Oil showed no signs of abatement and the stock rose over a point to 33% Carib Syndicate, Which assumed leadership. of the South American olls last week, reach- ed & new high on the move above 6. Swan and Finch advanced 3 points to 38, and Imperial Oil of Canada at 11313 was up 2 points. Other stand- ard Issues were slightly higher. The new Hupp Motor shares were quiter and up only fractionally at NEW YORK, December 24.—Follow- ing is an official 1ist of bonds and stocks traded in on the New York Curb Mar- ket today: Sales in thousands. 8 Allied 4 Alum 3 15 Am Cot Of1 6. ‘ 8 Am Gax & Blec s, 1 Am Rolling Mills 6 1Am T & T 6 3 Anglo Am OIl Tige.. 3AtG & W 1.8 8B, 5 Cun Nat R 5 1Clt Serv Tx C . 2 Cit Serv 7w D (1.0 a7 Col Gr Su part cte 18 Conn Gan Balt 6s A 101% 1 Cuban Tel Tigs ... 105 Co 0% 3 23 2253252523 FTEEFT PEFTFES L M 2 Ph Pet Thin w’ Pub Sery of N J T Pub Serv Bl Paw Reading Coal 4%4s Solvey et Cie Ra. 3 South Cal Ed tn S0 XY Ts '30. 80N Y 7 '3l Swife & Co 5a. Vacuum Oft 7 106% FOREIGN BONDS. 8 Govt of Argen s wl 997 1 King of Nether 6s.. 94 5 Mexican Govt fe. 1 Rep of Peru Ss. 15 Russ Govt Sigs 2 Russ Govt cfs & 22333 ¥ A 23 & 105 107 9115 S BE AR 1 Russ Govt Nat 12 Bwiss Govt Bs. 5 U 'S of Mexico i Salen in units. STANDARD OiL ISSUES. 400 Anglo-Am _0il 1000 Atlantic Lobo 300 Atlantic Lebos pfd. 10 Buckese Pipe Line. 20 Cheseborough Mfg.. 234 10 Eureke Pipe Lige.. 99 30 Galens Signal Oil. €8 - 500 Humble 0 & R new 37 1395 Impl Ofl of Canada 114 10 Indlana Pipe Line.. 8% 10800 Intl Pet Co Ltd.... 20 230 Magnolia ®0 N Y Transit.. 100 Ohi6 OIl new. 3% Prairle Oll & 700 Penn-Mex Fuel. 200 Prairie Pipe Li 510 South Penn Oil. 10 Allen_ Ol 1 Ark Nat Gas 10 Roston Wyo Oll 42 Carlb Synd . 1% Cities Bervice 2 Cities Service pfd. 1 Cit Serv B cfs . Marland Mex Eagle 10 Mex Oil - 1 Mes Panuco 24 Mount Prod 1 Mount Gulf 25288, SRS F FLSE Bat5HBe e 20 Northwest OIl BN Y Ol ...... 3 Peer 01l Corp. 3 Pennock oll. o8 BEFFEE o 22 Beaaba FEFREF S oo 5, F oo 2 e Eia i .08 61 7 20 Engineers Pet 30 Federal Of . 2 Granade Oil 14 Gulf Oll of Pi 6 Gul 6t 0 & R wi BR3.2823. FE BR.2883,.8 $257 497 Bou Stat: 4 1, 1 Tidal Osage OI1 % 2 Turman ONl . 13 Wilcox Ol & 05 28 ES 4 9 6l aoafl FEEE Washington Stock Exchange. BALES, Washington Rwy. & Elec. 45—$1.000 a 705 Lanston Monotype—8 at 70%, 10 at 703, AFTER CALL. * wash. Rwy. & Elec. com.—10 at 60%. & at O pital Traction Co.—5 at 95%, 4 at 95%. ‘Money—Call loans, 5 and 6 per cent. BONDS. - Bid and Asked Prices. PUBLIO UTILITY. Asked. American Tel. & Telga. 4 028 ican Tel. & Telga. 4 Ancter & Tel. etl. tr, fi m. & ref. Ts. Wash . & A":lll L MIECELLANEOUS, D. C, Paper Mfg. 6a. Riggs Healty o8 ( Riggs Healty Se (short) > ‘Wash. Market Coid Storage 5s.. ‘Wardman Park Hotel 6s... STOCKS. PUBLIC UTILITY. Hassington fwy. & i A . aeh " fwy. & Erec. pt h % ioal Taxi com.. 12 NATIONAL BANE. Capital - Columbia : ssee Commercisl istrict - ;:;:fl .American Liberty Lincoln National Rigs e ional Bask ‘of “Waskington, 2 TRUST COMPANY. Ameriean s«:nrll{ & Trust..... k ETHL ‘Metropolita Trus = 5 i BAVINGS BANK. Commerce and Savings. East Washington. Becurity Sevings & Com. Bank..' I FIRD INSURANCE, ebadsE ¢ Americas . en's rem Netiosal Unioa. 5 TITLE INSURANCE, bia_Title SniEatate Titis D. C. Paper pfd.. Merchaats' Tranefer & 8 Mergeathaler Linotype. 0ld Dutch Market com. 0ld Dutch Market pfd. ‘Moaoty) *Ex-dlvidend. cxtia divicesd. 1% -extra ‘dividend. 320 18%. Trading in the mining group off decidedly and the majority lert unchanged from last week's close, hMotor l}!;)ckl dldlloml!lhlt beflllr. the new Hu; tting up again to 16% "ana Willys Nrat pretefred up fractionally to 9%. Reo at 17% also showed a slight in. Trading fell off in the mining sec- tion, but the favorites remained firm around recent top prices. Included among these were Hawthorne at 73 and St. Croix at 1%. It was reported that a new vein had been uncovered at the mine of the latter company and that new equipment had been ordered to carry or Iflevelopmenl work at the St. Mary’s claim, Declaration of a 13‘ gor cent initial dividend on Universal Pipe and Radi- ator preferred was not reflected in the market for the gtock. INDUSTRIALS. 110 Acme Coal new 5582 5 TEF o 7 g £ £ = 3 H ip new wi.. in b tr ow wi ha (o L & W Coal o R R nter Cont Rubber nt Cone_Ind Gorp Libby McN & L!... 2 Libby McN & L ow 1 Mesabl Iron . 2 Midvale Co & 1% N T Tele Ca pfd.. 11 Park & Tiiford. 1 Peeriean Mot 33 Radlo Corp 22 Radio Corp ‘ptd.. 19 Readg Coal rts wi. 3 Reading Coal wi. 2 Reo Mot . 70 80 C & I new 8 Stuts Motor Y Bt & Co Toh Prod Eij 75 Todd Khi = 13 013 4585 B 15 130 Ariz Globe Copper. 30 Butte & Western.. .30 Canario_Copper. Candelarla Min.. & 3353224833058 55 ¥ 10 Mason Val 80 M; &F 5 Niplssing 32 Ohlo €« 30 Red Hil 20 Balide Mives - 143 8¢ Orotx Mines. 120 Stiverdale ... 4 30 Silver Horn Mia. ... 10 8ilv_ Kiog Div Mios 10 8o Am Gold & P.. 80 Bpearhead Gold 20 Btewart Mines 10 Touopah Divide 13 Tonopah Extens 3 Tonopah Min 10 Tuolumne 11 United Baster ... 1 United Verde Ext. 20 U 8 Contl nex wi 30 United Zinc Smelt. 15 Unity Gold . 18 West Ead Consol 20 West Ead Ext..... CUSTOMERS LOST $40,000 IN DAY Margin Clerk Testifies Accounts ‘Were Closed Out in Fic- titious Deals. ¥ REBRINBR. . BRBLBRR.BRL L EERE.ERBLEBRREBR LR, RLEE 4 * - - 2. 838853, & = o 2E.3548R...825 1] PYTTET By the Associated Press. . i NEW YORK, December 24.—Cus- tomers of Scott, Norris & Co., bank- rupt cotton brokerage house, lost $40,000 on November 2, when their accounts were closed out in ficti- tious transactions, Benjamin Spicker, twenty-year-old margin clerk, testi- fied at & bankruptcy hearing today. Aecounts for approximately 4.000 bales of cotton. he sald, were wiped out when. the firm set a false quota- tion of 29.25 cents a pound, 45 points below the market. — Arrangements were made through the National Cot- ton and Grain Exchange, he assert- ed, to sign sales slips at that price with other brokers. Within & few minutes after “the acoounts had been closed, Spicker testiged, - the market advanced 200 points. ‘When Scott Norris & Co. faliled on November 16, he sald. the firm was short 56,000 bales of cotton, worth almost $10,000,000. CHRISTIAN WINS $10 PRIZE IN CONTEST “Nothing Takes Place of Leather,” Topic Written Upon by Contestants. ~ Special Dispatch to The Star. NEW YORK, December 24—Win- ners in the “Nothing Takes the Place of Leather” assay contest were an- nounced by T. F. Elcock, president of the American - Sole Leather Tanners, " R The first prize of $2,000 was award- ed to Q. H. Dennis of 422 West 17th street, Erle, Pa. The sec- lond prize of $500 went to Lawrence L. Lewis of Fresno, Calif., and the third award, $200, was given Edward jMiles of Concord, N. H. There were *|1n_all 118 prizes, totaling. $5,000. | The 44,000 essays entered in the lconlell were from every part of the iworld and represented every intel- lectual grade from tannery laborer to college professor. Among the no- table contestan: was George B. | Christian of Marion, Ohlo, secretary ito the late President Harding. He will receive a check for $10. —_— i ART STUDENT LOCATED. i I NEW YORK, December 24.—Search | for Miss Eva Gosinski, art student and costume- designer, peared a week ago, ended when jher landlady received a message from relatives of the young woman saying she was {ll at their home. Miss Gosinski's parents live in Bay City, Mich. The landlady declined ;f :3“ the police where the relat! ved. Sisters of Miss Gosinski live in Trenton, N. J., and in Pittsburgh. The young woman, who lived with friends near the Th: Arts Club, of Wwhich she was a member, was seen last when she left & 5th avenue gown shop & week ? rs. John Hays Hammond and_As- thar Train, novelist, friends of Mi Enl'lllk‘. Joined in the search for or. who - disap- WOULD ABANDON LINE. ‘The Delaware and Hudson railroad asked the Interstate Commerce Com- mission today for permisaion to aban- don a_thirteen‘mile branch line in Néw York, extending from Canada Junction . to a connection with the Grand Trunk. railroad on the Cana. | dlan border, because other routes are availuble, . SOUTH VERY AGTIVE INNEW BUILDING Road Work Takes Lead— Many Big Bond Issues— Some of Biggest Projects. Epecial Dispatch to The Star. BALTIMORE, December 2¢.— Im- proving economic conditions through- out the world are told in cable dis- patches to the Department of Com- merce as reported in the Manufac- turers’ Record of this week. In Indla the trade balance has been reversed In that country's favor and optimism 15 general. ! Road building again takes the lead in activity in the sixteen states of the south, with the highway depart- ment of West Virginia alone opening bids for some 120 miles of road and a number of bridges at a total cost of $3,500,000. An important announce- ment in the textile industry s the plan of the Sayles Finishing Plant of Rhode Island to build a bleachery and finishing plant near Asheville, N. C, at a cost of $2,000,000. The Bo- galusa Paper Company will establish = $1,000,000 plant in New Orleans, for the manufacture of chip board and other kinds of board used in making containers. San Antonio Is to have two new hotels at a cost for con- struction only of $2,600,000., Huge Su: New Projects. Other important announcements of the week In highway bullding, the erection of new office bulldings and hotels, land development, the build- ing of manufacturing plants and the voting of public improvement bonds include the following: State highway department of Mis- sourl has awarded contracts to builé fifty-six miles of road costing more than $500,000; Sumpter county, S. C., is considering election on $6560.000 -of bonds to build roads: Marion county, Fla., plans highway improvements and may vote on $1,250,000 of bonds: Travis county, Tex., has voted $1,500,- 000 road bonds; state highway com- mission of Kentucky has opened bids to bulld twenty-five miles, which will cost nearly $500,000; Garvin county. Okla., will vote on $750,000 road bonds and Mannington district of Marion Sounty, W Ve Is conalderjng election on $600.000 of bonds to Build twelve sectiont of road: Lincoln district of the same county to vote on 3333200 of bonds; the city of Dallas, Tex., awarded contracts for street paving to cost more than $500,000. Utllity Firms Combine. The Public_Service Company of Hagerstown, Md., and the Potomac Edison Company of Cumberland, Md.. plan to consolidate, the two com- panies owning_properties in western Maryland, the Virginias and southern Pennsylvania appraised at $22,000,000. State of South Carolina—Gov. Thomas G. McLeod, is considering a $12.000,000 bond issue, $2,000,000 of | which will be used for the common school system and the remainder for state colleges The city ‘of Galveston, Tex.. sold $1,475,000 of improvement bonds. James Imbrie of New York is re- ported to build a $1.000.000 briquet- ting plant at Savanah, Ga. B. L. Hammer, Tampa, Fla. and others are reported to develop a chain of small {slands at Hillsborough bay at a cost of $5,000,000. City of Austin. Tex.. voted $850,- 000 of bonds, of which $500.000 will be expended for schools, $300,000 for fil- tration plant, and $50,000 for un in- cinerator. R. L. Dowling & Sons, Green Cove Springs, "Fla.. have acquired 90,003 acres of land estimated to contain 200,000,000 feet of standing, timber, the purchase including mill with a monthly capacity of 2,000,000 feet of lumber. Project in West Virginia. Coal River and Eastern Railway Company, with offices in Cleveland, Ohlo, has incorporated with a capitai stock of $1,000,000 to build a fifteen- mile railroad between Seth and Ash- ford in West Virginfa. The city of San Antenio, voted 32,800,000 prevention and tarding dams project. The city of Memphis, Tenn. sold $2.000,000 of bonds, of which $1,500.- 000 will be expended for waterworks $2§0,000 for hospitals, $100,000 for sewers and $150,000 for library. The . Young Men's Christian Asso- ciation, Mobile, Ala., is considering erecting_$300,000 building. City of Dallas, Tex., plans to erect $500,000 auditorium. The Pensacola Apart- ment cola, Fla., plans a $700,000 apartment hotel and theater. St. Mary's Industrial School, Balti- more, Md., contemplates the crection of an administration building to cost about $500,000. TREASURY CERTIFCATES. (Quptaticas furnished by Redmond & Co.) ——Noon.—— Bid. Ofter! 100132 100332 100116 100 3.32 1 100 27-32 100 27-82 100 15-16 . 10011.32 100 13.52 1100118 1005-32| 99 29-32 100 Tex., in_ bonds for flood vill build concrete re- first step in the September 15, s March_ 15, 1925 .+ 1003 1 b - 00 { 100 71.16 100 1316 § 100 100 5-32 nd Theater Company, Pensa. | COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY BOSTON, December 24.—On the eve of Christmas turkeys are command- ing 40 to 50 cents a pound retail for ‘western birds and 65 to 75 cents for northerns. at 25 to 35 cents. Turkeys are 20 to 30 cents lower than last Christ- mas, ST. PAUL, December 24.—Turkeys are selling for 10 cents a pound less today then last Christmas and 3 to 5 cents a pound less than at Thanks- giving. KANSAS CITY, Deceber 24.—The turkey market here is flooded and prices are low. Nearly all varietl of green vegetables are cheaper by 5 to 30 per cent. . December a GRAND RAPIDS, Mich. 24.—Manufacturers have been luged with orders for period furn ture this season and many small plants here have been running at capacity turning out lornate cabinets for talking machines. SAN FRANCISCO, December 24. One hundred and eleven new wells were completed last month with an initial daily production of 99,797 bar- rels, compared with ninety-nine 'slll with an initlal production of 127.- 759 barrels in October. BISMARCK, N. D, December 24.— Auw?nohuu licensed in North Dakota increased this year from 99,207 to 109,214, the largest gain in a year ever recorded. DETROIT, December 24.—Mechani- cal toys have been in extreme de- mand this season, with a call for toy automobiles of the closed body type and other expensive playthings. Stores handling the cheaper grades of toys have repeatedly restocked their shelves. PHILADELPHIA. December 24.— The sales of automobile accessories in the last weeks have been at a rate nearly 40 per cent above that for De- cember, 1922. SACRAMENTO, Calif.. December 24. —The sales which disposed of the re- maining carry-over stocks of 1922 prunes were the result of heavy pur- chases by England and Germany. RICHMOND, Va., December The Tobacco Growers' Co-operative Assoclation has closed its recelv- ing stations in Virginia and North Carolina over the holldays. Dellveries of the last ten days surpassed all for- mer records for the period. The as- sociation's receipts for the year will be about 115,000,000 pounds. CHRISTMAS BONUS PAYMENTS SMALLER Bucket Shop Failures Have Hurt Brokers' Business During Past Year. By the Associated Press. NEW YORK, December 24.—Wall street bank and brokerage house em- ployes went to work in a cheerful frame of mind this morning because this was “BonusDistribution” d in many of the large institutions. While no estimate can be made of the total sum to be distributed this year. tue Christmas gifts of a number of the stock brokerage houses are re- ported to be aller than usual owing to the rdlatively poor com- mission business for the greater part of the vear. Bucket shop and other brokerage failures have kept hun- dreds of. speculators and investors out of the stock market this year. _The metal exchanges in New York and London were closed todsy. Stockholders of the Jordan Motor Car Company have approved the dec laration of a 600 per cent stock div: dend. The capltal stock will be in- creased from 12,000 to 200,000 shares of no par value and 42,000 shares of Treasury stock will be sold to the public at $30 a_share. The Motor Products Corporation has declared an initial dividend of $1 a share on the new preferred ock. St fertora W. Swope, president of the General Electric Company, has been clected a director of the Radlo Cor- oration. - POfhe Farrcll Works of the Carnegie Steel Corporation at Sharon, Pa., have broken all previous yearly production records this year. The previous vecord was made in 1919. = e BUSINESS TOPICS. Aid for Ex-Service Men—Wage Boost—Lower Bank Interest. Special Dispatch to The Star. ALBUQUERQUE, N. M., December 24.—A reclamation project Involving 77,000 acres in Taos county, near the Colorado line, hax been approved by voters of the district and will be un- dertaken about February 1. Lands of more than 100 ex-service men will be benefited and the way paved for tremendous production of hydro-elec- tric power. LEVELAND, December 24.—An in- croase in wages of 6.1 per cent has been granted .the Cleveland Typo- graphical Union by the Employing Printers’ Association. ~ The new agreement provides pay of $1 an hour for day men and $1.10 for night Redmood & Oe.) (Quotations fursished by b 0oy B ainum Co. of Amer, Ts 1925, 101 Ao inom Co. of Amer. 78 1988, 106% BALTIMORE NEWSPAPERS TO SUSPEND TOMORROW City as. Whole Will Take Half Holiday Today Beginning at 1°0’Clock. Sperial Dispatch to The Star. BALTIMORE, - December 24.—For the first time in_its history since newspapers were published here, Bal- timore will be without a dally paper tomorrow. Heretofore the afternoon papers have suspended publication on Christmas, but this is the first time that the morning papers have sus- pended. 3 ‘While neither the governor nor the or_have declared it so, today will | be a half-day holiday with the ex- changes, banks and business geasrai- 1y closing at 1 o'clock. workers. INNEAPOLIS, December 24.—The pr?:clpll banks here will reduce in- terest rates on savings deposits one- half of one per cent January 1. Poor returns on_investments, high over- head and high taxes are given as reasons. —_— B. & 0. SHOPS CLOSE. 3,500 Workers to Be Idle From Now Until January 2. Special Dispateh to The B BALTIMORE, December 24.—The Mount Clare shops of the Baltimore and Ohio rallroad will be - closed until January 2, laying off 3.500 workers, it was announced at the shops. The shutdown is due to the general business depression affecting the rail- roads, the men were told in & message from President Daniel Willard, Two hundred and fifty men at the shops, ,who were laid off November 24 for one weel, have been suspended in- definitely. We Buy and Sell Liberty Bonds Treasury Notes Etc. The Washington Loan . 900 F Street _ 620 17th Street Green geese are quoted ) at 40 to 45 cents and western geese | | —Oil stocks in California increased 27,818,417 barrels up to November 30. 'I:HE EVENING STAR, WASHINGTON, D. C, MONDAY, DECEMBER 24, 1923. ADDITIONAL USES FOR SILVER SOUGHT Interior Department’s Move Recalls Part Played by U. S. in World Quiput.- Special Dispatch to The Star. NEW YORK, December 24.—An- nouncement that a study of possible new uses for silver in the indugtries and commerce is to be undertaken by the United States Department of the In- terior lends interest to some calcula- tions made by the Trade Record of the | Natjonal City Bank of New York as to the share which wé are producing of the world's silver output and the pro- portion used In the industrial arts. These figures show that the United States produced in 1922 about 26% of the sllver turned out by the mines of the world as against 26% in 1910, 33% in 1900, 29% In 1870, 24% in 1865 and 5% in 1861, the initial year of our recog- nition as an important factor in world silver production. Great Strides in Owtput. Prior to 1860 our share of world production was extremely small, but 2 fraction of 1%. Our production of eil- ver, which amounted to only 116,016 ounces In 1860 and 1,547,000 in 1861, first the first time crossed the ten-million | line in 1867, being for that year 10,441, 000 ounces; in 1870, 13,000,000: 1880, 30,000,000 890, 54,000,000 1900, 5! 000,000; 1910, 57,000,000 ; 1915, 75,000,- 000, and in 1922, 56,240,000 ounces. Although we came late into the fleld of silver production, the share which we have supplied of the world's outturn of silver from 1492 to the end of 1923 Is about 21 per cent, the total outturn, according to aeécepted au- thorities, of 2that 431-year period hav- ing been 13,170,000,000 troy ounces, and our own outturn since we entered the fleld ninety vears ago 2,735,000,000 | with a commercial value of | $2,256,000,000. | Chief Producing Countries. While other parts of the world de- creased their production during the | war, our own output was larger dur- ing that perfod than at any other time, advancing from 66,800,000 ounces in 1913 to 7%,500.000 in' 1914, 175,000,- 000 in 1915, 74,600,000 in 1916, and 71700,000 in 1917, dropping a littie be- low 70,000,000 in 1918, and standing. ss sbove 'indicated, at 56,240,000 in The chief sflver-producing. countries of the world are, stated in their order of magnitude of production in 1922, Mexico, the United States, Canada. Peru, Australla, Bolivia. Germany, In- | dia, Japan, Spain and Chile. In our own country the chief silver-produc- ing states are, naming them in the order of their output in 1922, Utah, Montana, .New Mexico, Colorado, Idaho, Arizona and California. FIRST MORTGAGE NOTES For sale. Consult us if you have avallable fusds for investment, THOS. E. JARRELL Member Washington Real Estste Board Weoodward Bldg. Mata 766 UNDER UNITED SYATES GOVERNMENT SUPERVISION Safety and Interest Guaranteed % Savings Deposits 4% 5% Certificates of Deposit’s % nking Hours: 8:30 to 5§ MM, THE DEPARTMENTAL BANK 1714 Peansylvania Ave. N.W. FINANCIAL Money to Loan Secured by first deed of tiust on real estats. Prevalling interest a3d commission, oseph I. Weller 2. "%k & & Trast 79, First Mortgage Notes Secured by first deed of trust ou high- class improved D. C. pew homes, for sale in denominations af $230 to $5,000. CORY & CORY, 807 15th N.W. TR £ Coatinental Trust Company H Capital One Million Dollars MORTGAGE LOANS . Denominations $100 to $6,250 Interest Rates 614% - and 7% All loans secured on modern homes und busi- ness property in best northwest sections of the city. Ask’ for Tatormatie Mortgage Department 913 15th St. NW. Main 617 First Mortgage 1412 Kye St. NW. EQUITABLE Co-Operative Building Association Organised 1879 44th YEAR COMPLETED Asnsets $4.755.170. Surpl teseans ,248,320. Save’ Systematically The most effective method of sav. ing is to adopt wm tematio plan and stick te it. Join Fdlluha. Subseription for the 86th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. Washington's Oldest National Bank Your Xmas Bonus —your gift checks, January dividends and interest cou- pons will prove sources of further yield if promptly de- posited in OUR SAVINGS DEPT. Our Savings Deft. Pays 3% Comgpound Interest National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000 15th St., Opposite U. 5. Treasury—109 Years Old Dean, Onativia & Co, Stock Exchange Building New York STOCKS and BONDS COTTON - GRAINS COFFEE SUGAR MEMBERS New York Stock Exchange Chicago Stock Exchange New York Curb Market Association N. Y. Cotton Exchange Chicago Board of Trade N. Y. Produce Exchange Minneapolis Chamber of Commerce WASHINGTON OFFICE Main Floor, Woodward Building Phone Main 2040 JOHN CALLAN O'LAUGHLIN 6% Manager For January Funds for January investment several first mortgage loans which bear interest at a higher rate than 6%. 1 FOR the first time in several years we have available These loans carry the same margin of security which we are accustomed to require; they carry our unqualified We do not know how long this rate will continue, so we suggest you make reservations at once. We will be glad to set aside your investment for you until your funds approval . are available. 1 . s 2 5 * Swartzell, Rheem & Hensey Co. 727 .15th Street Northwest 54 Years. Without Loss to an Investor ’