Evening Star Newspaper, January 4, 1924, Page 29

T3 RECORD YEAR | N LUMBER TRADE Dealers See Business Rush Ahead in Materials for New Houses. l JAPAN IS HEAVY BUYER South Still Prime Factor in Indus- try—Large Orders Await Filling. BY J. C. ROYL Epecial Dispatch to The Star. NEW YORK, January 4.—Lumber Wen throughout the country, casting up the results of the past twelve rmonths, see another wonderful period ot activity and prosperity in pros- yect for 1 Last year was undoubt- edly one of the most satisfactory years in the history of the industry. “The year just closed,” sald H. C. Berokes, secretary-manager of the Southern Pine Assoclation, “has been vold of any conditions, handicaps or detriments in the Industry to mar its success. Figures now available indi- cate that there was a new high record established for demand for building, surpassing that for 1922, the previous banner building year, by about 25 per cent. Weavy Requirements Ahead. “There still is a great shortage of homes, business and industrial struc- tures in the country, and the rafl- roads are estimated to require be- tween 200,000 and 225,000 new freight CaTS per year for the next four years. on e They will also need further large | § Morrle & Co Tis quantities of fumber and timber for{ 7 X'orins Pub fer waintenance of way improvements.” States Pow 6158 Production in the mills of western Tower on B Washington and western Oregon for| @ Park Tilford s 1933 was greater than in any year since | 10 Pen Pow & It'3 the war, uccording to the West Coast ;,,M:‘ b g Tumbermen's Association. Mills of the Sadtui R assoclation turned out 4.884,617 Pub Berv 2 Pow 85, Loard feet in the last compared Readiug Coal 0. with 4 b 12,643 feet for for 1920, per cent over 1921 and about Enormous k 1921, This was a gain of 20 38 per cent over % per cent over 1920, ports During Year. The Pacific ceast lumber mills e: ported 1,250,000000 feet of fir to the orient, Mexico and South America iast year, shipped an afditional 800,000,000 fest through the Panama canal for At- lantic seaboard uses. and consumed 1.500,000,000 feet at home. A canvas by telegraph of the large lumber com- panies on the coast today brought forth 11 Govt of Argen 63 wi 99’ 0%y s Torecusts that 1924 would seo last years King of Nech 6a... 908, 904 908 figures exceeded by 20 per cent both for | 27 Rum Govt Al 1015 101 101 domestic and export uses. 30 Russ Govt 8% 1o~ 10 ° 10 Japan fs expected to be the largest [ 20 Russ Gov Aie of na 10 10% 104 forciEn Dirchaser this year. More fir | 2 8wims Govt Bioe... o8 88 88 has been bought and is awaiting | 3 Swiss Goxt Se...... $7% $7% - 07 t than has already been ship- nee the September earthquake. With the long-delayed Japanese re- construction program at last getting under headway, 1924 shipments are | 10 Chescbrough Mfg. . 3, expected to reach at least a billion | 18 Cumberland F, Line miu s eet. 200 Humble 0 & R new 38 38 South America Good Buyer. &3 Tiiinols Pipe Line. 1873 136, South America, which bought 150,- | 410 Impl Ofl of Canada 138, 1.0t 000,000 feet in 1923, is expected to in- | o0 Tudians Pipe Jige. 35 creass its purchases one-third, but | S \icioia Mexico, which accounted for 35,000, 000 fect last year. may fall below that figure because of the present political disturbances. Australia, | 1400 Oblo 0il new... which absorbed 150,000,000 feet last | 1383 Prairie Oil & Gas. year, is counted on to requirel about the same amount. Shipments of Pa- cific coast fir through the canal sho a 30 per cent increase over any previous year and represented about 2530 shiploads. Shipments of southern pine to for- eign countries last year _totaled 73,419,181, an increasc of 25.54 per cent over 1922, and 4.76 per cent over 1916. Figures compiled by the Southern. Pine Association indicate that the total 1923 production reached 12,000,000,000 feet or 250,000,000 to 500,000,000 feet above the 1922 fig- ures. The annual lumber pay rolls in the south aggregated about $200,000,000. ‘Wages in the south increased ap- proximately 16 per cent over the scale of 1922. These figures indi- cate that despite predictions regard-; ing the diminishing timber resources { of the southern pine states the south still is a prime factor in the | industry. Prices in California are about a thousand feet higher tha were six weeks ago. a slump in eastern California mills have about 105,000,000 feet selling 102,000,000, i Stocks on shand have diminished appreciably as compared with a year 4go, as have unfilled orders. Latest figures from the southern pine a soolation show 281,065,512 feet order- 2d as compared with 377,000,000 & year ago. Unfllled California rail orders total 3,500 carloads. —_———— RBefore You Invest—Investigate. Bver notice that the fellows who mand. | cutting a week and! try tg get rich quick are always| FAILURES TOTAL 19463. Greatest Decrease in 19: South, Bradstreet's Rep NEW YORK, January 4. tailures In the United State 14.5 per cent in 1923, Bradst ports. The number of failures last vear was 19,163, as against 22,415 for 1922, the greatest decrease being in the south. New England, the middle Atlantic and central states also show- ed decreases, but the west and north- west states recorded more failures than in 1922. "BETTER WOOL TRADE. Market Still Quiet, With Very Few Price Changes. Bpecial Dispateh to The St N, January 4.—Some increase in ‘business was reported by Summer street wool dealers today, but on, the ]is an omcial list of bonds | Potom BY WILLIAM F. HEFFERNAN, NEW YORK, January 4.—Oil ehares reacted further on the curb market today under a continuance of the selling movement, which started a few days ago. The losses, however, were smaller than on pre- vious days of the week save for one or two of the high-priced issues, and as the session went on the early losses, for the niost part, were res traced. The recent selling in this group was set down to profit taking tollowing the recovery which accom- panied the decline of approximately 15 per cent in domestic produetion during the past four months. South Pennsylvania Oil sold down to 157, against a high of 167 Thure- ——————————— NEW YORK, January 4.—Following and_stocks traded in on the New York Curb Mar- ket today : Sales in BONDS. thousands. High. 1 Allied Packers 8s... 3% 3 Alum Ts "25. 101ty 3 Alum 78 new '33. 20 Am Gas & Hlec 6s. 1Am T & T 6s ‘24, 5 Am Thread Co 8s. 8 Anaconda 6s .. ® Asso Bim Hdwe 8las SALGA&WISEDG 3 Reth Steel 7o '35 20 Chie & Northw 58 1 Chic Rock 1 & P 10 Citles Service 108 95 100 1011 D. 1 Col Graph 8 pf cfs 18 1Cn Gaw Balto Slas B 97 5 Cudahy D138 1 Deere & Co 7 4 Detroit City Gas 6 11 Detroit Edisos 1 Duglop T & R 13 Federal Sugar 3 Fisher Body 68 Fisher Body 6s Fisher Body 68 28 F oa w i 821 64 w'i 101 Sales in units, 30 Bu STANDARD OIL ISSUES. eye Pipe Line. TT% 100 Penn-Mex Fuel. Sales INDEPENDENT OIL STOCKS. hundred: T Nerenil 1 il Boston Wyo Ofl . E 3 5y 5 14 11 Cities Service 1431, 13© 148 Washington Stock Exchange.i SALES, Washingron Gas 6s '33—$300 at 1001, Capital Traction Co.—10 at & Elec. ¢om.—10 at i, 10 at ig. 10 at i i <708, 80 at 4 s Light—1 at H Merchunty' Bank & Trost Co.—10 at 129 | 1074t 129, 30 at 129 | AFTER CALL. { Washington Gas 6 '33—$100 at 1001 | Capital Traction Co.—3 at 95, 3 at 85 American Security and Trust Co.—30 at Money—Call loans, G and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. 302, Bid. Asked. American Tel. & Telga. 4s. o215 92% American Tel. & Tel 10413 Am. Tel. & Tel. ctl. 9714 Am. Tel. & Tel. con: usg 118 & L8 Anacostla & Potomac guar. 5 “& . Telephone 5. © & P Teleplione of Capital Traction K. R. ¥ & Suburban O rgetown Gas Ist Metropolitan R, R. Elec. st b (N MISCELLANEOUS. D. C. Puper Mfg. 64, 80 Riggs Realty s (long). 2 Rigks Realty Os (short). o7 Wash. Mkt. Cold Storage 3s. 92 Wardman Park Hotel 6s.. 90% STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga. Capital Tractio ‘ashington G Norfolk & Wash, Do Wash. Rwy. & Elec, com. Wash, Rwy. & Elec. ptd. Terminal Taxi com. whole the market was quiet. Prices are holding strongly, especially for coarser wools which, it is predicted, will be more popular this year. Added strength was given the market by reports that the South American wool crop was 80 per cent sald and would be wholly cleaned up within _six weeks. Recelpts here Thursday were 1.481 bags of domestic and 11 bales of foreign wool. DRY GOODS MARKETS DULL. NEW YORK, January 4 (Special).— Trading in the cotton goods markets was light today, but dealers were heartened by a number of inquiries of large proportions. Prices were steady, with print cloth quoted at 11 cents for 64 by 608 and 12% cents for 68 by 72s. The raw silk markets also reported a quiet day, with a few slight price_concessions being offered buyers. NEW YORK EGG PRICES. NEW YORK; January 4—Eggs— Steady; recelpt. 11,355 cages; New Jereey ' hennery ‘whites, closely se- lected, extras, 50a52; nearby hennery whites, closely selected extras, 50a52; state, nearby and nearby western hennery, whites, firsts to extras, 44a50; Pacific coast whites, extras, 50a51%: do., firsts to extra firsts, 45a49. PR S e s Tenants of a landlord in La TRochelle, France, receive a bonus of three months’' rent on the birth of the first child and six months’ rent | ye on the birth of the seconds NATIONAL BANK capitat Columbia Commercial 140 District . 160 Farmers & 230 Federal-American d 5 tional Bank of Washington. TRUST COMPANY, American Security & Trust. Continental Trust. 86 Merchants’ Bank. 129 Natlonal Savings & Trust.!! ]! 881 Unlon Trust. - 162 Washington Loan & Trust, . 850 BAVINGS BANK. Commetce and Savings © 190 Eakt Washington. .. 20 Becurity Savings . 275 Beventh Street. - 17 United States 2 . 800 Washington Mechanical. . FIRD INSURANCE, American Corcoran % Firemen's .. . 18 Natonal Union.. B, MISCELLANEOUS. D. C. Paper pfd. I Merchants’ Transfer & Storage.. 105 type. . . 150 thaler Lino! gy, Hete 01d Duteh Market pfd. Becuri! Storage. NEW YORK CURB MARKET Recelved by Private Wire Direct to The Star. Office THE EVENING day. However, where it was selling today it compared with 121 on Sep- tember 10 last. Pralrie Oll and Gas, after losing 8 points early in the day, recovered part of the 13-point de- cline of the previous day. Others of this group assumed the more orderly movement, and fluctuations were con- fined within & point in most instances. Gold Dust Corporation was a featurs among the miscellaneous stocks, get- ting up close to 36, & new high record. This stock was exchanged for the old American Cotton oll—of which it be. came the Rarent company-—on th basis of one ehare of Gold Dust for each of American Cotton Oll prefer- red and one share of each three of Cotton Oll common. The recovery in the motor group ap- peared to have run ita course, and prices here were little changed. The new Hupp stock, however, gained fractionally, but others were slightly lower. 4 Cittes Serv pfd ... $1.000 Cit Serv ¢ serip $1,000 Cit. Serv scrip 10 Oreole 8ynd . 15 Derd O & R pi 180 Engineers Pet 27 Federal Ol Gen Pet . 20 Glen Rock 18 Gulf 01l of Pi 11 Gulf Bt O & B wi 20 Hudeon ON . 2 Latin Amer O Lago Pet A.. Liviogston Oil Corp . Marland . Mex -0 2 Mex Ps 15 Mount Prod 2 Mount Gulf o1 Omar Oil & Gai Pennock Oll ...... . P Am Pe Tr ris wi Royal Canad 0 & R Sait Ck Cons... it Ck Prod. . aboard Ofl . licox Ol & G INDUSTRIALS. Mutusl 041 Am Gas & E 5% 43 g Am Hawaitan 8 8. 184 1813 % Arch Daniels Mid.. 26° 28 Prod Oor w i Oar Light ... Centrifugal Tr Chi Nip mew w 1. Colorado Pow & Li Corn Prod Kt nw wi D, L& W Conl . Dibilier C & Kadio [ D i Gillette § K ... Gleasonite Prod Co. (rien Alden Coal Gold Dust Corp w i Gondyear Tire .. Hudson & Man Tt Hudson ‘U9, pfd.... Hupp M C new w i o Z Inti Cope Ind Corp 12% 1 Kresge Dept Stores. 1213 1 Leader Produc . 8 2 Behigh, Power wec.. 33 2 Lebigh' Val B § Liggett 3y Tol @y 5 Lupton F M A 3h 19 Mesabi Iron ke 1 Midyale Co .00 18 1 Mo Pro Co p ow wl 45 1 Nat Leather ....... 3% 5 Nat_Dairy Prod wi a8 3 N Y Tele Co pfd... 1108 S Park & Tiford..... 3 & Peerless Mot . 13 Radio Corp ... 1ty 3 Radio Corp pfd. 11y 1 Shelton Looms ... 23 So C & 1 new . it 3 Stutz Motor 11 171, 4 “ k£ 188 Distribat 39 3 Yale & Towne rts 8 0 Arizona Globe Cop.. .12 20 Bl Oak Gold Mines 3% 10 Hoston Mont Corp. .15 0 Butte & Wi s i Copper - % 2 Cent Amer Mines.| 1 25 Cons Cop Min new 21y W Cortez Siiver ... .39 rexon Gold . ELY 3 Crown Reserve ... . Dolores Eaper . First Nat Cop Fortuna Mines Goldfield Derel Gold Zave .. Grven Monsier . il M Hards! Home Ext. . Independence Lead. Indian Mine Jerome ¥ De Magon Val .. 1 STAR, WASHINGTO! ~ OPPOSE NEW LINE Cost of Road in Texas Under Pro- posed Securities Issue, Probers Tell Board. Agents of the Interstate Commerce Commission today recommended, after investigation, that the New Mexico Central Rallway Company be refused authority to extend its lines 100 miles out of Santa Fe, to Gallina, In New Mexico. The new construction would cost $2,516,525 and the company proposed to issue $4,320,000 in s&curities to raise funds for it and for other pur- boses. The present line of the New Mexico Central has “generally been operated at a loss" the report said and the territory which it proposed to enter would be better developed if the Santa Fe raliroad should make an ex- tension from its wsain line in 'the southwest. The Interstate Commerce Commis- sion will begin hearings February 20, at Aberdeen, §. and February 25, at Bilsmarck, N. on the proposals of northwestern railroads to increase lignite coal rates from Dakota pro- ducing points t northwestern con- suming territopy. The North Dakota ton - will state ratiroad commis Jjointly with the feders JAPANESE OUTLINE DISPUTE WITH CHINA| ait Yoshizawa Points Out Three Dif- ferences Between Two Nations. BY CLIFFORD FOX. By Cable to The Btar and Chicago Daily News. Copyright, 1923, PEKING. January 4. — Japanese Minister Yoshizawa's ontline of the status of the three important un- settled Sino-Jap questions is signifi- cant. He mildly criticized the Chinese authorities for their laxity in securing the reledse of Japanese officers of the steamer Yiyang Maru {from Szechwan bandits, and their un- willingness to negotiate for a set- tiement in the Hungchun bandit case, now three years old. He declared that it is Japan's in- tention to insist that the Chinese government recognize the Mitsul wireless contract with the Chinese navy. which would give the Mitsul interests a thirty-year monopoly on Chinese wireless rights to the ex- clusion of American interests. Charges Infringement. Yoshizawa declared that the Mitsul contract concluded in 1918, contained a thirty-year monopoly clause, be- cause this was needed to safeguard the undertaking. ' He asserted that China’s contract with the Federal Wireless Company in 1921, granting @ permit for a wireless station at Shanghai, for communication with other countries, was an infringement on the rights given the Mitsul Com- pany. “I regret that in the pending n gotiations, full details cannot be dis. closed, but hope shortly to let the public’ judge from the data lald b fore them on the merits of the Mit sul Company's case,” sald Minister Yoshizawa. In the TYiyang Maru case, he de- clared that the chief engineer and first officer of the ship were still held Ly the Szechwan bandit chief, who refused to deliver the captives until $1,000,000 in ransom is paid. The Chinese foreign office sent official en- yoys to securs the captives' release, but the mission failed and the cap- tives were taken into the hills after the retreat of the Bzechwan army from Chanking. Their present where- about unknown. . Responsible for Fate. Yoshizawa said that Japan proposes to hold China responsible for the Mohlcan ew Cornelia e 178 New Domiaion Cop. 2% 3% New edrsey 1455 3 Niplssing ) 68 Ohia Cop “. . P 210 Ray Hercules Inc.. 20 173 &t Croix Mines. 14 10 Siiverdate ... 08 20 Stiver Horn Min. . 10 Silv King Div Min. nd Rilver Lead rhead Gold Tonopah 5 United o 18 Wenden Copper ... 10 West End Ext 10 West Utah 40 Wilbert 4 Yukon Goll —_—— $100,000 SUIT AGAINST GEN. SLADEN DROPPED Action of Maj. Nicholson Made Superintendent of West Point Defendant. B the Associated Press. NEWBURGH, N. Y., January The suit brought by Maj. Wheeler Nicholson against Brig. Gen. Fred Sladen, superintendent of the United States Military Academy at West Point, was dismissed by. Justice Seeger in special term of the state supreme court here today. No opposition was offered 4— to the Choose Your Investments for $100,000 damages, | prisoners’ fate. He deplored the Hung- chun case, which has been left un- settled for three years. The incident occurred in 1920, when Chinese and Korean-Russian bandits ralded and looted the town, burned the Japanese consulate and killed twenty-one Jap- anese, wounding nine, besides caus- ing damage totaling $250,000. The minister declared that Japan warned China to suppress the north Man- churian bandits, but without avail. frequent changes in the Chinese cabinet and foreign min- isters combined with the lack of sin- | cerity on the part of Chinese officials was responsible for the failure to settle the case. He charged that the Chinese officials are today showing an unwillingness to even resume ne- gotidtions. ———— (RUSSIAN PRINCESS HELD IN SENSATIONAL THEFT Copenhagen Bocial and Diplomatic Circles Shocked by Ar- test of Girl. By the Associated Press. COPENHAGEN, January 4.-— The Russian Princess Olgo Koslowsky, daughter of the late Gen. Viadimir Koslowsky, is under arrest charged Malcolm | with stealing jewels valued at 15,000 | kroner from a country house near Elsinore, where she was a guest. The arrest has caused a sensation in Copenhagen's social and diplo- matic circles, where the princess is popular. or father, who was killed by the bolsheviki, ‘was once enormously wealthy, but all his property was conflscated with the result that after his death his widow and daugh- y penniless. With Care should place you Mortgages on im in this city. Nothing Could Reservations Now Being Made —For those who will have funds available for investment during this month our Mortgage Department would like to show you why you such a Liberal Rate of Interest. Just telephone Main @345 and ask for the Mortgage Department and they’ll make reservation for you. r money in First proved real estate Be Safer and pay 1. C. C. INVESTIGATORS | TIPS FOR TAXPAYERS Ne, 5. A single person, if the head of a family, is allowed the same exemp- tion granted married persons— $2,000 or 32,600, according to the amount of net income. A head of a family is a person who actually supports and maintains in one household one or more persons closely related to him by blood, . marriage or adoption and whose right to exercige family control and provide for these dependents is based upon some moral or legal obligation. Mere support of relatives does not entitle a taxpayer to a status as the head of a family. The de- pendent must be a member of the taxpayer’s household, and the tax- payer must, in fact, exercise fam- ily control over such dependents. In addition to a personal exemp- tion, & taxpayer {s granted a credit of $400 for each person depending upon him or her for chief support if such person is under eighteen years of age or incapablo or sel Bupport because mentally or ph; defective. The term “mentally or physically defective'” includes not only cripples and those mentally defective, but persons in il health and the aged. Such a dependent need not be a relative of the taxpayer, nor need he be a member of the taxpayer's household. A son living in New York who is the chief support of an aged mother living, without neceesity for the separation, in Baltimore is entitled to a credit of $400. Were the mother a mem- ber of the son's New York house- hold the son, as the head of a fam- ily, would be entitled to an exemp- tion of $2,000 or 32,600, according to the amount of net income, plus $400 for a dependent. The $400 credit does not apply to the wife or husband of a taxpayer, though one may be totally dependent upon the other. PHILIPPINE TRADE NEARS $205,000,000 BY WALTER J. ROBB. By Radio to The Star and the Chicago Daily News. Copyright, 1928. MANILA, January 4.—Philippine ex- port and import trade for the vear closing with advance estimates for Dacember approximates $205,000,000. Imports approximating $85,000,000 and exports totaling $120,000,000 are reported, giving the islands a, favor- able trade balance of $32,000,000, which is the best year since the boom of 192 Sugar and Hemp Deals. The United States received more than $27.000,000 worth of Philippine sugar out of a total of $31,000,000 worth exported. The United States recelved more than half of the hemp shipments totaling $24,000,000. Prac- tically the entire output of coconut oil, copra and embroideries went to American firms. The entire exports of hardwood went to the United States. wtih one-third of the cordage ship- ments going to American firms. The above items were the principul ex- ports during 1923, The United States also continued the heaviest seller to the islands. Cotton plece goods valued at $10,000,000 were imported from America. Two-thirds of the wheat and flour shipments for the year were hipped to the islands practically ex- clusively by the United Btates, while two-thirds og the oil imports were shipped by American firms. Paper and {silk were also imported in large quan- titles from America. Source of Raw Products. Figures show that the United State: is growing more to depend upon the Philippines for raw products, espe- cfally vegetable fats and fibers, Brit- ish ships are still carrying the bulk of the tonnage originating on the east coast, while American vessels retain the lead in Pacific shipments and will compete for Atlantic su- premacy -through the recently insti- tuted round-the-world service. Shipping men say that American tonnage from both coasts now ade- quately meets all the Philippine de. mands if the President desires to ex- tend the coastwise laws around the islands. Notes Money to Loan Becured by‘frat deed ot Prevviing iatoire Nag” commmmion ™ Joseph 1. Weller 420 Wash L & Truat UNDER UNITED ' STATES GOVERNMENT SUPERVISION Safety and Interest Guaranteed % Savings Deposits 4% 5% Certificates of Deposit5 % Free Checking Service Banking Hours: 8:30 to 5 .M. THE DEPARTMENTAL BANK 1714 Pennsylvania Ave. N.W. FIRST MORTGAGE INVESTMENTS 6%2% Denominations, $500, $750 $1,000 and upward. Secured on Improved Properties Only JAMES F. SHEA Prevalling Rates of Interest. See Mr. Field. Hedges & Middleton, Inc. REALTORS. 1334 H St.N.W. Frankiin 9503 EQUITA Co-Operative Building Association 44tk YEAR COMPLETED Adgets ........ $4,755,170.53 Surplus +.01,248,330.08 Save Systematically T sy T A stick to it. Join mhllllh Subseription for the 86th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Sec’y Second Trust Notes We have clients with funds to purchase good SECOND TRUST NOTES in denomina- tions of from $500 to $10,000. Low rates if security is good. A_F&ly at once to our MORTGAGE DE PARTN ENT. HANNON - 713 14th St. NW. ‘LUCH), Main 2345 i 1 Guaranty Trust Company of New York 140 Broadway * LIVERPOOL - HAVRE Condensed Statement, December 31, 1923 RESOURCES Cash on Hand, in Federal Reserve Bank LONDON PARIS BRUSSELS ANTWERP ..$144,230,132.92 U. S. Government Bonds and Certificates 33,003,668.81 Public Securities. ... desace 26,936,861.07 . 35,654,041.36 e yosasase ... 317,138,562.81 ! Items in Transit with Foreign Branches .......... 4,858,721.51 Accrued Interest and Accounts Receivable....... 10,373,586.23 $621,455,548.75 LIABILITIES « $25,000,000.00 15,000,000.00 3,655,020.05 $43,655,020.05 FIRST MORTGAGE NOTES le. Comsult us if you have avallable * funds for investmest. THOS. E. JARRELL Mamber Washington Heal Estate Board Woodward Bldg. Maia 708 | 1413 Kye 54 N.W. CAPITAL, SURPLUS and UNDIVIDED PROFITS, $6,220,282.19 Member American Bankers’ Association e, 3% ON SAVINGS .y MAIN OFFICE 15th St. & Penn. Ave. BRANCHES: 1140 15th St. N. W 7th and Mass. Ave. 8th and H'Sts. N. E. , + 486 Tth St. S. W. Accrued Interest Payable and Reserve for Taxes Acceptances: New York ....... .$24,145,438.28 Foreign Branches. .. 14,733,087.10 38,878,525.38 Outstanding Treasurer’s Checks veenae.. 29,219,223.67 Deposits. ... . . . ... 499,605,588.78 $621,455,548.75 CONDENSED STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS DECEMBER 31, 1923 RESOURCES. Cash and Due From Banks ... aiore ... $4,771,884.64 U. S. Government Bonds & Notes. ...... $4,291,748.42 | State and Municipal Bonds ........... 560,348.55 i Other Securities ... .. o] o 5,199,699.97 { = 10,041,796.94 | Loans and Discounts .......: e v ol .... 15,627,909.567 I i Clerks’ Pension Fund Investment ...... gt o 50,000.00 | Customers’ Liability—Letters of Credit.. dasd s 103,115.00 Accrued Interest .... 239,220.55 Banking Houses, Furniture and Fixtures and Real Estate Owned < s oo ... 167245542 Sundry Assets .... Jlgials s 43,813.09 Total Assets .. ....$32,450,195.21 Capital Stock ... $3,400,000.00 3 Surplus ... .. -2,400,000.00 ' % Undivided Profits ....... ou 420,282.19 Dividends Declared and Unpaid .- ‘ 171,130.00 £ Deposits s s aae s s b s o - 25,717,748.17 Clerks’ Pension Fund and Interest Thereon - 53,450.22 Reserved for Interest and Taxes ve 178,038.56 Travelers’ Letters of Credit .... . 108,115.00 Su?aq'mmm.iu ials ivikie o pola/a 0 e 6 0 S0 e 11,431.07 -$82,450,195.21