Evening Star Newspaper, December 31, 1923, Page 21

FINANCIAL. Money to Loan i Secured by first deed of trust on real estute. Prevailicg interest and ~ommission. 1 :Joseph 1. Weller ‘“"‘.Wm L &1 FIRST MORTGAGE NOTES | NOTES vailable FINANCIAL, EUROPE IS BUYING MUCH MORE MEAT T.'S. Packers No Longer Worried THE NEW YORK CURB Recelved by Private Wire Direct to The Star Office EVENING STAR, WASHINGTON, i) C, MONDAY, .DECEMBER 31 B 7o SN B e R e i et AR e e WALL STREET NOTES. E‘? Ioms tax Tomass 1 ted I la; More Incmnn Tax Loss Sales Made :nnn for Cash Today. et ish- for l’l re< Thtla were largely to cheap and 'gex- (nmlu lnaua(rltlp-tack- but FIRST MORTGAGE INVESTMENTS 6Y2% Denominations, GOVERNMENT SUPERYISION | Safety and ther d lprhlklln‘ ot oil BY WILLIAM F. HEFFERNAN. ing oft 9 points to 222, but later re-| NEW YORK, December 81.—The In- overing. Shares In the Tist, As stocks sold in cember 3L—The last | " Improvement in crude oil guptations the ordinary manher today would not - eared until Wednesday, it was day of the year on the curb market |had & favorable effect upon Guif Oil |net lncome of 310,201,641 for ¢ necessary for all tax sales today, they 500, 50 3 7 Over Exports—Payments Also Made in Cash. OUTPUT GREATEST TO DATE Opening of Books Now Biggest Problem in Industry. BY J. C. a1 Dispateh o The § NEW YORK, December 31 ers of the United States have ed fo regard the export situation, narticular] regards Burope, with tatistics gathered as vear ends show that from 80 tol 0 per cent more meats and fats were s0ld to Europe than in 1922, and that the 1923 exports of hog products will excoed those of any year since 1916 Best of all. the packers are being pald in doilars for these shipments and not in the depreciated currenc: the countries to which they have been shipped. 7 This improvement in the export situation proved a lifesaver for the packing industry in view of the fact that meat production in this country was the greatest in history, ‘exceed- ing that of 1922 by 1,500,000,000 pounds, according to estimates by “homas . Wilson, president of Wil- son & Co. This increase was due largely to the increase in pork. Increaxe in Purchases. The packers bought nearly 10,000 000 more hogs than last year. It is ctically essential for the large nd handle the < - which come ¢ have an imme- te market for the meat products not. This is necessary in order to assure shippers of a steady in the packing centers so that enough animals shall constantly arrive to keep the packing plants at each oc- cupied The ROYLE, tar. uspal procedure is for s for the packers to go into th market each morning for what th actually want apd when the wants , large concerns estim ber of animals so that the runs shall be tically clear for another day. The packing business is one of the where it is difficult to curtail operations even when demand is ab- sent for the packers are unique in that they take a finishe materials and assembling them. Demand Steady in 1928, Throughout this year, however, al- houghs there was some’ over produ uof cattle and hogs, demand has n maintained both here and abroad and meats move rapidly into con- sumptive channels. This trend has been aided by lower price levels which show declines from the peak 0 to 70 per cent. has been a heavy buyer fats and pork products English and has been for lard and meats. The consumption of France has in- d over pre-war levels and en and chilled beef and mutton being shipped - there in large Guantitics to meet this demand. Italy also is manifesting increased meat re- quirements as a result of the ming- ling of the Italian soldiers with those of meat-eating nations during the war. Packers regard their industry as a barometer of business and in- conditions both here and ‘When wages are good and well employed the effect is very - in the sale of meat prod- increasing demand mani- year, therefore, has im- with the probability ty will be maintained in and that conditions will fair Opposed to Opening Books. ‘'he most pressing problem faced by the packers today is the effort on the part of the government through court action to compel them 1o allow the Secretary of Agriculture to maintain auditors iu their es with full access to all records. maintain that this might e their business rivals information of methods and pro- which are of the utmost ." of \which it is impossible to patent, I'he packers are seeking support in their fight from other lines of industry on the ground that if it is held legal to compel packing com- panies to give access to their books all times whether wrong doing alleged or not, it will be equally to compel similar compliance in other lines of business. COTTON TAKES LEAD. Most Valuable of U. S. Exports During Third Quarter. nmanufactured cotton again oc- first plade in value of United | ates exports arter of 1923, being made in S rinany, France, rding to a sued by the heavy shipments | ptember to England, Italy and Japan, trade “analysis just the Chamber af Commerce United States. During Septem- e exports of raw one-fourth of the entire ex- of that staple during the first nihs of this vear and were double the quantity shi ptember, 1922, Continued coal, automobiles those commodities in their hold on second, third places among American rding to the analysis. ed exports of wheat during the third quarter gave ihat . staple xth place, the highest rank 'it has tained this vear. A year ago the tlue of wheat exports was. second only to cotton. e ey { Wefore You Invest—Investigate. !y 1t's_queer how careful a man can e after he's lost his .monmey. Abe Martin says that a man who is not satis with 6 per cent and his money are soon parted. | SHORT-TERM SECURITIES. (Quotations furmshed by Redmond & Co.) Aluminum Co. of Amer. @Aluminum Co. of Amer. Amerioan. Coiton ol m Toxte A 087 Limer Y Anacondn Copper ¢ Ansioin GIT "0 Haitimore & Ohio s 1024 ndian Northern 5l I Central \u 'Ine IKw! 6s 1t 3 Federal Sug: market | the | is left and | product and | disassemble it instead of buying raw | saw another sharp advance in oil |shares, and a cessation of selling jpressure in other industrials, which has been taking place recently for the purpose of establishing tax losses. Further advances of 15 cents a barrel in Pennsylvania and outer eastern grades crude olls was & contributing factor to the unusual strength in this class of stocks, and the ofls were bid up from 1 to 15-points: Prairie Oil and Gas and South Penn weré the leaders, up 12 and 15 points, respectively, while pipe line stocks displayed more strength than at any time since the turn for the better in the oil trade several Galns of from 1 to 4 points were numerous and occurred in Indiana, Prairie, Southern and Buckeye Pipe. Standard of Nebraska was an excep- tion among the Standard issue NEW YORK, December 31.—Follow- ing is an official list of bonds and stoeks traded in on the New York Curb Mar- ket today : s in thousands. 1 Allied Packers 8x. rdw’ Atlantic G & W I8N, Beth Bteel ¥ 35. C. ) Col Graph 8s par cfs 18% Ralt 88 E 97 5 Deere & Co 73w, Detroit City Gas Detroit Edison 6, Dunlop T & Rub 4 Fed Sugar 6s '33 sher Rody 65 '25.. sher Tody s (28,0 Keading Cogl eading Cogl 2 Reading Coal 9215 100% 1008 Govt Argent 6s w L. 9% King of Nether 6s.. 5 Mexiean Govt 8 Mex Govt s C I Rep of Peru 8s Russian Govt 04 . 1 1015 107 i S T Rexien b Salesin STANDARD OIL T units. 2200 Anglo Am Oil..... 400 Atlantic Lobos 260 Buckeye P L....... 200 Continent Ofl mew.. 44 30 Cumberiand P L... 1103 50 Bureka P L........ 101 305 Gal Sig .Oil. A 1900 Stambls 0 & 1t bew 80% 100 1L P L. .12 1200 Tmp 01 100 Ind 1 1 8800 Intl e 5 M 16% 3875 Prairie Ol a Gaa. : 2200 Vasuum Sales INDEPENDENT OIL STOCKS. 1o husdreds 3 at Gas arib Synd . 1 Darby Pet... 13 Derby O & R w 1 Derby 0 & R pf w_i 'W/. e Washington Stock Exchange. SALES. nston Monotype—5 at 72. Momer=-Call loans, © and 6 per cent. BONDS. Bid and Asked Prices, PUBLIC UTILITIES. Bid. ~ Asked. American Tel. & Telga. 4s. American Tel, & Telga, 414 Am. Tel. & Tel. ctl. tr. Am. Tel. & Tel, vt. 5. Anscostia & Potor An-mm & Potomac & P. Telephone Gs. & P. Telephone of Capital Tractién RB. R. City & Suburban B Georgetown Gas 1at Sa. Metropolits STOCKS. PUBLIC UTILITY. American Tel. & Tel) | Capital Traction Washington G Norfolk & Wa Capital Columbia, Commercial District Fisher Body Corp, Eisher Body Corp. s 1 85 198 Grent Northern Ts 56 Fockin oy o 1024, R Tiiuby, MeNell & Tabby 8 1081, Mieh} tate Tel, on 1924 M. 6% r T Western Union. & Westinghouse E. TREASURY CERTIFICATES. (Qustations furaished by Wedmond & Co.) 41s Mareh 15, 1924, #ids March' 15, 5,s June 15, 1924 ©igs September 16, 4%s March 16, 1925. 434w June 15, 1923 4 ber sEaf SeuBd § SAVINGS BANK, seudss 8 bls Title.. g’.‘u"l-unu Titie. ... MISCELLANEOUS, Tranater & Htorage.*105 MI'- v 150 ' months ago.lat a fiew of Pennsylvania, which moved u more than 2 boints with' compar tive ease, while others of the inde- pendents were more or less favorably affected. Motor stocks, which had been held back under the influence of tax sell- ing, rallied easily with the depress- ing factor removed. Durant of Dela- ware, which sold us high as 84 early | in the year, rallied 2 points from the previous close, while Stutz, which had | broken to a new low of § last week ' under “tax selling,” rose above 9. The new Hup Motors reached a new high on favorable earnings forecasts for the coming year. Speclal buying appeared in stocks of the type of Midvale Company ! across 18, and Gold Dust Corporation top above 32. The new Corn Products, admitted ‘to trading last week, sold at 311;. These shares will be lssues on the basis of five of the new 325 par for each of the $100 v outstanding. 19 Mount Prod 1 ;:oum Gult Omar Of & ¢ Peonock 0i n Am Pot ris v i § toyal €an 0 & ¥ 1 Atlantic Froit wi. 1 Brdigeport W Prod_Corpy wi Coal 17 Dubiller C & Radio 48 Durant Motor . Durant Mot of 1 Dunhill Int In 1s Federal Light illette e 15 Goudyear Tire & Tupp, Mot new ‘Wi Ulnt Cont, Rubber.. Leh 7 & Tilforc. Basriess, MO + Willys Corp ist pf. 10 Willys 15t pf cf dep 10 Rigits 5 110 Arizona_(Aobe Cop. 10 Boston Mont Corp. 10 Butte & Western .. 10 Calumet & Jerome.. 4 Canario_Copper... 100 Candelaria Min..... 19 Con Cop Mines new. 30 Green Monster 110 Hardshell Min © 119 Hawthorne Min ... 10 Hill Top Nevada... 1 Hollinger 1 6 Hecla Mine .. o Independence hnul 11 Indian Mine 5 Jerome W Devel. Kerr Lake pominion Cop. % \:‘“ Jersey Zine.. 4h olo Coppee X 30 Pl Lend Wine 111 8t croix ailncs 10 Sitverdale 30 Silver. Horn 60 Bpearheud Gold 85 Teck Hughes 2 Tonopah Extens m Tano JSim Butler. 20 White Caps MARKED INCREASE IN BANK CLEARINGS | Automobile Production Cause of New Records for Year in Detroit. Special Dispatch to The Star. DETROIT, December 31.—The rec- ord-breaking production of automo- twelve months ended November 30, 1923, as compared with $10.336.957 in the ‘previous twelve months. Prowident George M. Switt of the National Leather Company Sleniad chairman of the board and Vice Preside! . R. Fisher advanced to the presidéney. Continental Company re- ported net $1937, 958 for the year nded Ootober w41, 192 inst $1460.940 "the preceding months. James H. Graham has been elected president of the Indian Refining Com- pany, to succeed Theodore 1. Pom- eroy, who has resigned. Last-minute selling by speculators —_— agal twelve Interest Rates 6149 . Ya% All loans sccured on modern homes and busi- ness property in best northwest sections of the city. Ask 'r l.flol ige Department 913 llfll Sl. N.W. Main 617 last day of 1923, to bLe on a basis. " MINNEXPOLIS, December _31.—It has been decided to add u coirse in radlo communication at the Univer- sity of Minnesota next year. ge Notes E QuUlI T A BL E Co-Operative Building Association Ansets ..., Surplus Snve Syaumlfiully Pk o2 Subscription for the 86th lssue of Stock Being Received Shares, Si‘SO Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presid, FRANK P. REESIDE, Sec'y Interest Guaranteed % Savings Deposits 47 5% Certificates of Depouitso% Free Checking Service Banking Hourw; 8:30 te 5 P.M. THE DEPARTMENTAL BANK 1714 Pen{nsylv-nll Ave. N.W. We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Depa’rtmem The Washington Loan and Trust Company d 900 F Street 620 17th Street No Loss to Any Investor in 51 Years HE F. H. SMITH COMPANY, founded in January, 1873, celebrates in January, 1924, the completion of 51 years of service in the field of first mortgage investments in Washington, D. C. During that time its offerings have never caused any investor a dollar’s loss of principal or interest. For the January: investor this record stands ‘as a depend- able guide to investments that combine safety of prin- cipal with a liberal and steady income. Our First Mortgage Coupon Bonds are secured by im- proved, income producing property in Washington. They are sold outright or under our Investment Savings Plan, in denominations of $100, $500, $1,000 and $5,000, with _ a wide range of maturities. To Yield 62% and 7% Call, write or phone Main 6464 for fuil information he E SMITH BUILDING E:H.SMITH COMPANY 815 FIFTEENTH ST. JANUARY INVESTMENTS 642% First Mortgage Notes biles in the past year has been reflect- | ed in the bank clearings here. The total for this city for the year was|’ $6,708,000,000, compared with $5,356,- 000,000 last year, $4,648,000,000 in 1921 and $6,194,600,000 in 1920. The clear- ings for 1923 and ‘those for 1920 and automobile production for those years make interesting comparisons and show the effects of lower automobile Drices. Production in 1923 was about 4,000,000 cars and for 1920 2,200,000 vehicles. Cleveland Reports 1923 . Very Prosperous Year Special Dispatch to The Star. CLEVELAND, December 81.—In- dustrially and financially 1923 was a year of prosperity for this district. Employment figures showed remark- able steadiness during the year. In the first half year, with an ambitious building program under way, and the tire compani auto parts manufac- turers ‘and ‘paint and textile plants running full time, there was a labor shortage. In the );lt six months there was a Business in Atlanta - Passes 1922 Records Speial Dispatch to The Star, SEVERAi attractive issues of first mortgage notes, bearing interest at a higher rate than 6%, are now available for January investment, Each loan is a true investment in every sense of the word, and is of a type desirable for individ-{ ‘uals, trustees, “institutions and those to whpm dafety of principal and prompt payment of both interest and principal when due are the first con- sideration. We are unable to predict how long this rate of i interest will continue; and we therefore suggest you make reservations without delay. / - Swartzell, Rheem & Hensey Co. 727 15th Street Northwest a blmo'n dollars in excess of those f 1922, g“ e '!un total will e Y For sale. Consult us 1f you ha fund; & Vember Wi ‘Woodward Bldg. iFirst Mortgage Loans Lowest Rates of Iuterest . Thomas J. l_-"gshar & Company, Inc. Over 42,000 Depositors Unquestionably the Best New Year’s Resolution s for-investment. THOS. E. JARRELL ington Real Estate Board 3 Commission. Prompt Action 8 16th Streot $1,000 and upward. Secured on Improved Properties Only JAMES F. SHEA 643 Louisiana Ave. N.W. Your January Funds Re-invest your January curities that will earning consistent with refurn the funds-in several se- maximum afety and good business. interest We are now making reservations for the January requirements of our clients, in attractive investment offerings. several -especially Phone, call or write for complete information Allan E. Walker Investment Co. J. E. White, Manager Securities Department Main 2690 Southern Bldg. Dean, Onativia & Co. Stock Exchange Building New York STOCKS and BONDS MEMBERS w York Stock Exchange Chicago Stock Exchange S New York Curb Market Association Minneapolis COTTON GRAINS COFFEE SUGAR . Y. Cotton Exchange icago Board of Trade Y. Produce Exchange Chamber ~of Commerce WASHINGTON OFFICE Main Floor, Woodward Building Phone Main 2040 - JOHN CALLAN O'LAUGHLIN Manager YOU WILL BENEFIT J —Dby remembering that when- ver you have Five Hundred Dollars in hand you can buy a FIRST MORTGAGE Ower a Quarter of a Century e Ml promptly be a Loss —for that amount. Or, if you have a part of that sum you may purchase a mort- cage and pay the balance later. Thus, even small sums will earning interest. B. F. SAUL CO. Main 2100 1412 Eye St. N. W, Capital_and Surplus, $2,000,000 Strictly adhered to, a de- termination to Save Sys- tematically during 1924 and the years ahead will ;prove the ~wisest New Year'’s resolution you ever spon- sored. {'Thrift sows seeds of op-, portunity—multiplies your chances of getting ahead— rounds out your character as well as your pocket- book. We’re ready to serve you and all other earnest thrift workers. Deposits ‘Invited in Any Amount; Tnterest Paid on Small - Same Rate of and Large Accounts Open Until 5:30 P.M. Today and Wednesday FFICERS: DI ‘Woodbury. Biair RECTORS: A. Buchanan Jumes William ‘A ucl H. Ch: Yalter ¢, ‘mennm H. Rosler Dul rank Ellis . Frank ’mfl-flcl A. Fenning Wlllll- H. Wllle! H. Prescott Gatley Henry K. Willard . Oldest Smngs Depository in Washington ‘. Cor. muflmh&h;._‘