Evening Star Newspaper, January 12, 1924, Page 19

FURNITURE PRICES " MAY BE REDUCED Makers and Retailers Anxious to Cut Costs—National Sur- vey Is Desired. | | { | SPORTING TRADE IS FINE Pullman Company Seeks New Site for Repair Shops. BY J. C. ROYLI Special Dispateb to The Staur. NEW YORK, January 12.—The fur- iture trade seems to have ironed out wny of the differences between its producing and distributing ends and { is getting a splendid start on the new year. There were more than 500 furniture buyers who attended the annual exposition at Grand Raplds 1his week and their purchases are de- clared to have exceeded all exp tions of the manufacturers. The sen- timent to future business was plainly indicated by the announc ment that the Nelson Matter bullding Grand Rapids had been taken over Ly furniture interests and will be re- miodeled into an exposition building €leven stories high with 150,000 feet of floor space, which will serve as a vermanent show place. Price Heductions Possible, FINANCIAL, - NEW YORK CURB MARKET Recelved by Private Wire Direct to The Star Ofice BY WILLIAM ¥F. HEFFERNAN. NEW YORK, January 12.—The curb market closed the week strong, with the buying movement still under way in speclal stocks. The olls were continuing to dis- count recent advances in crude and &asoline quotations. Standard Oil of Indiana stock was favorably influ- enced by the 2-cent-a-gallon Increase in gasoiine prices which the compuny announced on Friday. Other Stand- best prices of the week. ice was tn demanfi again Citles Serv- the com- NEW YORK, January 12.—Following is an_official Tist of bonds and stocks traded in on the New York Curb Mar- ket today : BONDS High. fo.. &7 IR Al uoog s 0 20 Am Gan & Elec .| 9 Am Roil Milla 6x.. 5Am T & T ds 24, Aunconda 6 . Asso Sim Haw §i At G Kk WIS an N 3 A hi & North 5 wi Chic St P 6 wi Cit Sery Col Gr Cons Textiles Ak Deere & o Tlgs.. Deiralt City Gas 0 Detroit Edison ®s . Fed Sugnr s ‘330 Fisher Body 6 ° Finher Fody 6 ° The position of the manufacturers 15 strongly opposed to any gual against price reduction. Some ern buyers had hoped for reductions and held off from future comunit- ments or demanded guarantees. The makers, liowever, although they de- e furniture {5 now as low as it and afford & fair margin of profit, and there is small probability of reductions for some time to come. Were steaafast against guuranteeing present qu Both makers and retailers. however, are getting to- gether to determine means of elimi- - Dating waste and thus reduce the cost of furniture A survey of the in- dustry by the Department of Con merce has been suggested as a means to that end. New Contracts Favored. Manufacturers, for their part, asked that orders by retailers be mude equivalent to a contract which might not be broken at the will of elther party. The Natlonal Retail Furniture Association has consented to this pro- Posal. CLicago furniture stores and the fur- uiture departments of the larger depart ment stores are on the threshold tod: of what promises to be the biggest mid- inter season on record. Preliminary sales, according to the midwest deal- ers, are showing a larger daily aver- %ge than ever before, although ad- vertising campalgns have just start- ed. Merchants naturally expect a ruch r volume of business once tieir advertising begins to h: full et Sport a Big Business Factor. ot sport or port on business omiing more ap- The commercialism rather the effect of and industry is be varent every day. FPolo, golf, fishing, otor boating, horse racing and ayuatic sports will be responsible for *he expenditure of more money in the south in the next thres months than ever before In a simllar period. ‘This will react favorably not only to manufacturers and dealers in sport- Ing goods. but to railroads. hotels and clothing manufacturers, An Hlustration of the trend will be shown coneclusively Sunday, when the members of the Amerlean Olympic team will practice Briar CUfT, There was no snow at Briar the proprietor of the hotel train load shipped from the ks. The cars of the New were sprinkled to form coating of ice, and fn this the snow was packed down with an ice blanket sprinkled over top. The freight rate charged was sixly cents a hundred pounds. 1t would have been infinitely less expensive to send the skiiers to the snow to practice than to bring the to the skiiers. but there snow were no hotels where the snow lay. Milifons In Breeding Farms, Racing is rapidly making the Shen- andoah_valley a rival of the Ken- ,tucky blue-grass region as a home for the horse. There has been more than $4,000.000 f{nvested In eight breeding farms in e valleys, in ~which are quartered 400 brood mares and such famous sires as Trap Rock, Sir Barton. Superman. Sunbriar and Royal Canopy. Tk gh m burley tobacco and hemp, raised blue-grass s In Kentucky to $500 an acre or ewcomers in horse breeding. therefore, are going elsewhere. Pullman Seeking Northwestern Site. The Pullman Company is seeking a in the northwest on which to truct shops to repair and recon- dition their cars in that territory. The present shop system, with plants located at Calumet, 11L; Wilmington, De Louls, Buffalo and on San Francisco bay, leaves the northwest without adequate repair equipment. A report that twenty acres had been purchased at Seattle for this purpose as been denied. - Ask Your Banker ¥ow much real value stands back of the stock you are asked to buy? Are you sure that the nice, honest- looking stranger is telling you the truth? Ask your banker to look into what he claiws. Tips for Taxpayers No. I Deductions for business expenses form the largest claim in the re- turns of many taxpayers. All the ordinary and necessary expenses, incurred in carrying on any busi- ness, trade, profession, or voca- tion are allowable deductlons. Typical expenses of a mercantile establishment are amounts paid for lifre of employes, rent, light, heat and water, telephone, adver- tising, insurance, delivery expen- ses, the cost of operating dellvery wagons and motor trucks, and cldental repairs to such cles. The expenses of a manufacturing business include labor, raw mate- riul, heat, light and power, selling cosl, adminfstration and ~ similar charges A professional as deducticns the used by him in his practice, ex- penses paid In the operation and repair of an automoblle used in making professional calls, dues to a profeesional soclety, subscrip- tions to professional journals, office rent, the expenses of fuel, iight, water and telephone used in his office, and the hire of assist- ants. The farmer may deduct all amounts paid in the production and-harvesting of his crops, in- cluding labor, cost of seed. and fertilizer used, cost of minor re- pairs to farm bulldings (but not the dwelling), fences, machinery and small tools used in the course of a, year, or two. the man may claim st of supplies Traveling €xpenses. when trip is solely on busineas, includ- ing the entire cost of meals and lodgings while away from home, are deductible. Deductions for business expens- es must have certuin qualities to be allowed. They must relate to 2 business, trade, profession.: or vocation in which the taxpayer has invested time or money for the purpose of a livlihdod or profit, A business may be carried on by a taxpayer, even if all its actlv- ities are conducted by employes. A taxpayer may conduct more than one trade or business and claim a deduction” for .the -“business ex- penses of each, provided he de. Yotes sufficient time and attention to-each. ariat; Fisher Rody_6s Gair, Robt Ts s Gult’ Oil of Ta 5a. Tnter Maich 8138 wi Kan Clty Term Slen Keanecott Cop 7 Le Val Ilar Ry s Libby MeN & L Cle Win Lig re 7% Nat Lenther & ... New Or Pub Serc fa North Olio P Phila Phila Flee 348 Phil Elec Higs Pure Ol 6ige Pub Serv Shaseshee Sun 011 Switt & idal Gxage Vacuum Ol Rr 5 Web Mlile Gls wi HH i 1018 1214 1% 0o+ o8 101 11 fales STANDARD OIL n uiits Contineat Of1 new. 100 Crescent P L ... 95 Gatenn Sigual Oil 300 Humbie 0 & R pew 887 30 Iitnois P L ...... 14 530 Imp Oft of Canada 1 s 4600 Inter Pet Co. Ltd. W0 Mugnolin Per . 160 tional Transit .. U4y 700 Ohio Ol new 1315 300 350 Prairie P L 160 Routh Penn Oi1 13100 S O Indians 20 Southera P L 700 § 0 Kansas ne; 800 < S0 8 O 3200 § 0 A 308 0 Oblo ... 15 0 Ohin ptd 60 Swan & Flach 1400 Vacuum Oil new. 4 1% a8 3 Barrington OH ... 8 150% ros o reice i (ddes Sers B $2.000 Cit Serv C serlp. $41000 Cities Serviee werip 2¢ id. sal Ofl vot' cfs New Rradfd Ofl w! NY ol .. A Peter 01 Corp ... Pennock Ol Pan Amer rts . Washington Stock Exchange. BALES. Potomac Electric s 1933—8%5.000 at 101% $1,000 at 1011;. ¥1.000 at 101%a, $1,000 10} 000 at 101%. ington Rwy. & Elec. com.—10 at 70%, s, 10 at 703, 20 at 70% Washington Rwy. & Elec. ptd.—10 at 748, 13 at Ti% Riggs National Bank—10 at 10 at 285, AFTER CALL. Capital Traction Co.—3 at 9415, 10 at 948, Merchants' Bank and Trust Co.—10 at 12915, UNLISTED DEPT. Dept. Bank—1 ot 5% Standard National Bank—50 at 12, 50 at 12. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Bld. Asked. 981 98 xg;;: s 1'_-1"h snd Tema. "t RN i C. & P. Telephone s, C. & P. Teleplione of Ve Capital Traction It K. w. Uity & Suburbun cegzangs $3m8E3823RE Potomac Llec. 6s 1938 ot Elee. Pow. g m. & ref. 7s. - Alex. & Mt, V. Bu. Wash., Alex. & Mt. wash.. Balt. & Annap, Washington Gas 5. Washington Gus s, Wash. fiws. & Elec. ¥ MISCELLANEOUS, D. C. Paper Mig. 6. Realty 3 (tong STOCKS. PUBLIC UTILITY. American Tel. & Telga. Capital Traction. Washington Gus... Trolk & Wash. Steamboat, Rwy. & Elec. com.. Rwy. & Elec. pfd ‘axi com.. NATIONAL BANK. Ttious) Bavi Unlon Dan & Trust. Wash, Losn BAVINGS BANK. Mo Na 8 E2¥¥eE & 285 olumbia fon Estate Titie. ard Ofl issues were well up to their mon crossing 150, shich brought it up to the week's high. The new Warbaking Company stocks issued as the result of the acquisition of the Ward Company by the United Bakeries were admitted to trading. The “B" shares attracted most attention and were active be- tween 20 and 20%. Speclalties of the, type of Todd Shipyards and Dubilier Radlo continued to be favored in the buying, thé former gétting up to & new top. Mining shares were disposed to sell O following the signs of weakness which. have appeared in the copper metal during the last few days and the announcement by the American Brass Company this morning of a cut of a half cent a pound in brass and copper products. ————————— S Royal Cunad 0 & R Suit Creek Salt Ck Pre Re INDUSTRIALS. 2 Amal Leather Am Cot Fab: Am Gus & Elee ... Am 1. & Trac pfd. Rorden & Co...... Blyn Shoe Ine..... Brit-Aw Toly Coni. . Bkiyn City R R... Candy Prod Corp wi st 01 ] Durant Mot ... Du_Pont Motors EI Boud & Khare Gillette § R.. 3 Gleasonite Pro Glen Alden Coal 7 Gald Dust Corp 2 Goodyear Tire Great West Su Hexden Chem Tisdrox Corp . Luter Cont " R Tnd ¢ Kresce Lot S Leader Trod ohigh Power Eciigh Val Cosl Mesabi Iron = XY Tel Co pidll N ¥ Traoe 5 p u Radio Cory Shelton Looms 8o C & 1 new Taidd Nhip . .... Un Bakerlew ... Un G & E oew pf To P Shar new.. US Lt & Heat Way ol Wil Co Int pt of dp Yel Tax Co N ¥ rt Ariz Globe Cop Hoston Mont Canario Copper Candelarin Min . Comstock Than Cons Cop Mines nw Cortex Silver Cressou Gold Diamozdn B 1 Indepen fron B il Cop Ray Hercu 5 Kex Coos 02 Siiverdale ... 05 Silver Horn Min.[ (07 Spearhead Gold .03 Teck Hughes 11 United Easters United Verde Ext U'S Cont new wi. Unity Goid ... Walker Wenden « West End Cons West End Ext PRICED RAILS HIGHEST IN YEARS Week Sees Upward Trend in Stock Market in Spite of Very Heavy Selling. 16 L 3ty 140 03 ‘LOwW- | | POOL VERY SUCCESSFUL French and Japanese Exchange Touch New Low Marks. By the Associated Press. NEW YORK, January 12.—Marked strength of the low-priced railroad shares. many 3f which sold at their !highest prices in years, was the fea- ture of this week's stock market, which maintained its upward trend {despite an unusually heavy volume of iprofit-taking in all sections of the st Buying of the railroad shares was given Impetus by the decision of the |United States Supreme Court up- iholding the constitutionality of the “re-capture clause” of the trans- portation act. which is expected to benefit the weaker roads by forcing the strong systems to share their ex- cess profits with them. Pool operations were conducted with outstanding success in a number of the industrials and specialties. The fact that brokers’ loans have not materiaily increated was construed to mean that from the industrials to the rails. Bu- rope was a heavy buyer of American seourities this week, the brisk demand for dollar bills in London with which to pay for these purchases being a contributing cause to the heaviness of sterling. French and Japanese exchange also touched record lows. French financial interests were reported to have become greatly concerned over the declsion of Jabor party leaders in Great Britain to recognize the soviet government when they came into power. Trade news during the week was largely favorable. Tt fncluded an in- crease in_the unfilled orders of the | United States Steel Corporation, further reduction in crude ofl output, followed by an upward revision of i prices in eastern and central territory, higher lead and zinc prices and special dividend distribution by the Conti- | nental Can, Eastman Kodak and other i companies. ————— FOREIGN EXCHANGE, (Quotations furnisiied by W. 1. Hibbs & Co.) Nominal Selliag check 1.00 B “odat 0422 25 per trlion 185 0197 127 London, Montreal, pound ... doliar. . Berlin, Rome, 1ira . Copenhagen, crown Christianis, crown Stockholm,” crown By the Associated Press. NEW YORK. January 12.—Foreign cxchanges easy. Quotations (In United States dollars): Great Britain, de mand, . 4.26%; cables, "4.263 sixty- day bills on banks. 4.23% France, demand, .0466%; cables, .0 Ttaly. demand, .0438: cables. .0438%. Be)- glum, demand, .0419%:: cables. 0420 Germany, demand, .00000000000022 cables, .00000000000022. Holland, de- mand, .3740; cables, .3745. Norway, demand, .1431. Sweden, - demand, .2628, ' Denmark, demand, 1742, Switierland, 1734." Spatn, domana, 00000013 Crson: slovakis, demand, .0291; Jugoslavis, lml. inu, Av:lutrh. 47' and, Avgentina demand, 3500 Hras s I there had been considerable switching | { year over last year. TradeReportsand Flood of Funds For Loans Help Wall Street Feeling in Financial Circles Regarding “Congress Also Vital Factor in Oper- ations During Past Week. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, January 12.—Wall street, in its operations of the last week, has been governed by three distinct motives. First, it has had this season, trade reports will be constantly growing brighter: second, it has had in view the possible con- sequences of the enormous accumu- lation of unemployed funds, as in- dicated In the latest baunk reports. Third, it has taken account of the better feeling in financlal circles re- garding the political outlook, as it appears from the conservative point of view. It was the expectation that after the perfod of Inventory taking at the end of the vear buying would come In more freely. Thix is what ap- pears to be happening, only there Is no rush such as there was twelve monthe ago. The fact {s that in most lines there is no deficlency of goods to be made up and consequently there is no anxlety on the part of buyers whout prices. A violent expansion like that of the first three months of 1923, with the accompaniment of inflated prices, is utterly inconceiva- ble now. Increase in Reserve Ratio. In no week since the establishment of the federal reserve is there any rec- ©ord of an increase in the reserve ratio such us was reported by the New York bank. The jump of over 11 per cent at New York was accompanied by a rise of nearly 5 per cent In the system as a4 whole. Primarily this was due to paying off of rediscounted paper by the member banks, which were feeling the effect of the pecially needed for the Christmas trade and the New Year settlements. At the same time, the public were reminded that some $300,000000 in gold was Imported on balance into this country last year, and that the way the trade balance Is still running in our favor, there is no likelihood of the flow being checked. Gold Stimulates Investments. Huving In mind the strong polic: adopted by the Federal Reserve Board {last spring, there is no ground for « revival of last year's dfscussion about the dangerous consequences of a “gold inflation.” Nevertheless it Is true that such an inflation does ex- Ist. It tukes the form of an immense |fund available for investment on the one hand and on the other an ubnor- 1ly large reserve which could be used for extension of credits in {dustrial and speculative lines were {the authorities to permit it. This {situation Is a powerful sumulus to {investment securities, which. during the last week, have heen steadily ris- ing. It also offers great encourage- 'FOREIGN EXCHANGES IN FURTHER TUMBLE | at New Lows—Demand Sterling Also Drops. By the Associated Press NEW YORK, Junuary selling of French francs by Euro- pean firms in the local market sent the demand rate down to 4.66 cents, the lowest ever recorded. Belgian franes ylelded in sympathy, also es- { tablishing & new low record at 4.21% cents. Demand sterling dropped 1 cent to $4.26. One exchange dealer sald that he was unable to execute all the orders that he had received because of the sharp drop. Several factors have contributed to the weakness of French francs, in- cluding the widespread criticism of the French budget. the political un- certainty attending the opening the French chamber of deputies and the fear that the recognition of the soviet government by a labor min- lstry in Great Britain would pre- clude the possibility of the French being reimbursed for their heavier {nvestments in lussian pre-war bonds. A threatened rallroad Great Britain _contributed weakness of sterling. SCHWAB FINDS BUSINESS BETTER DAY BY DAY By the Assoclated Press. NEW YORK, January 12.—Business generally will continue to prosper in 924, Charles M. Schwab predicted to- day as he satled on the Majestic for a month’s holiday abroad. “We are having good business now and we will continue to have good Dusiness,” he said. “In fact, business ie improving day by day. 1 look for unfilled steel orders next mouth show a great increase over this month. Both the steel and automobile lines { should show a healthy growth thi strike in to the SHORT-TERM SECURITIES. (Quotations furaishea by Redmond & Co.) —Close.— Bia o 1025 1 1057 1083 % 100 101% 10275 121% 10214 Aluminum Co. of Amer. 7s 1925. Aluminum Co. of Amer. Tu 1033. ‘Americaz Cotton Ofl 6 1924. American Sugar 6s 1037.... .. American Tel. & Tel. 8s 1635, Aneconda Copper 65 1029, Anglo-American OIL 7% Baftimore & Obio 6e 1024.. Caadian Northern 33w 1024, .. Gentral Argentine Rwy. 6s 1037, Central Leather 58 1025.......- Chi., R, L & Pacifc Slus 1026 Du-Pont Tie 1901 Edteon B 1il. Co Vederal Bugar Hef. Fisher Body Corp, 6s 10 Fisher Body Corp. 8s 1928 Goodyear 1. & 1. 85 105100 Great Nortiern T 1044 Hockinz Valley Humble 01l s 1932, Keunecott Copper 75 Ly Nexell & Libby T 1 Aichigan State Tel, 3x 1024, M., St P. & 5. S. M. 6% 1061 Morris’ & Co. T8 1430.......0 Perns. R. I 74 1960....00 Swift & Co. b8 1% . Tidewater 0il 6145 1831, Union Tank Car 7s 1600.....0. U. 8. Rubber 7%s 1980........ Western Union Sigs 1986.....0 1 Westingbouse E. & M, 7s 1001, CAR LOADINGS GAIN. .Seaboard Alr Line's traffic is con- tinuing at a considerably higher rate than last year, as indicated by car loading reports. During the week ended January 8, loads moved totaled 36,540, as compared with 35,300 during the same week in 1923. This is an increase of 6.5 per cent. e GYPSUM AGAIN SOARS. CHICAGO, -January 12.—United States Gypsum, which went up four points Thursday, retaining part of the rise, upon reports that the com- pany was negotiating for the pur- chase of J. B. King & Co. of New York, rose seven points yesterday, to a new high record of 99. The stock closed at §8%. —_— RATES ON BAR SILVER. ! LONDON, January 12.—Bar silver, and 5-16'pence per ounce. Money, per_cent -Discount rates short 3a3 316 per cent; three months 0215 108 10014 100, o7 03 O B 98! k-4 0%, 101 10 0% 81, M': 101 100 e ot 083 10435 99 .10 a3 05! i o1 1008 104 1081 111 107 in mind that, as usually happens at' turn of money, es- | in- i French Francs and Belgian Francs, Buyers Supply Only Current Needs. 12.—Heavy | of | to! to speculative operation de- pending upon the use of credit. The third feature of the past week's markets—namely, the more confident sentiment toward politics—Iis some- thing which it would be out of place to discuss at any length in a financial article. It is merely stating facts to say that Wall street and the general run of business men outside welcome proofs, like the side-tracking of the bonus and the speeding up of tax reduction, that the conservative forces In Congress are In control. More | over, with no evidence to show that| the majority of the country is not back of conservative policies, Wall street ig no longer disturbed, as it was (wb and three months ago, by the prospect of a presidential cam- palgn. Decline of the French Franc. Regarding the continued decline in the French franc, which has been | altogether the most dramatic episode | of the week, it is curious to motice | certain changes of uttitude. Critie | who were malintaining all along that it was a case of speculation without sufficient reasons, are nNow saving as little as they can on the whole sub- ject. For the first time French writ-{ ers and Parls correspondents are d covering that the selling of francs has come not from the Germans or the | British, but from the French them- | selves, that it represents an urgent desire to cornvert French paper cur-! rency into dollars and dollar securi- ties. For the first time stutesmen are telling the truth as to what the trouble is. The head of the budget committe in the French senate stated the other day: 'We know how fragile and menaced will be the balance of revenues and expenses which we have struck. as long as the enormous direquilibrium of the so-called re- coverable buddet from Germany Ix left to welgh heavily upon our finances.” This statement refers only to the heavy increase in the interest burden growing out of the expansion of the French national debt to 34.000,000,000 | francs before the war Lo the present 400,000,000,000 francs. Last year over ihalf the entire expenditures in the ordinary budget consisted of interest i payment France’s Finances in Bad Shape. As to whether currency inflation is going on seriously in France, the evi- dence is not yet conclusive. But un- less the next Bank of France state- ‘ment shows a very heavy reduction ‘the fact will be that over two bil- lion franes were added to outstanding paper notes since the third week of December and that this occurred while the government_was paving off loa to the bank. The situation is tainly working around to th foreseen by outside observers m ago, where France will see U must back down on German repara tions and agree Lo & reasonable settic- ment in order to save own | tinance: H ment | | | stage nths it (Copyright. 1924.) |WEEK SEES BUTTER | | PRICES GO LOWER Trading Stocks Slightly Reduced. By the Asvociated Press. CHICAGO, January 12.—Price de- [clines on better grades featured the close of the unsettied and easy but- ter market during the week. operated cautiously and supplied only current needs, but trading stocks were slightly reduced, even though receipts were larger than during the previous week. Storage withdrawals we 1,000,000 pounds heavier than for the previous week. Demand was good for the lower grades, prices which failed to share in the decline on top scores. | Foreign butter was an ! factor at New York and indirectly af- fected the other principal markets, During the week 10,325 casks Dan- ish, 750 bLoxes Argentine, 7 cases Itaiian, 10 casks Assyrian and 29,4 pounds Canadlan were received. { Cloging wholesale prices d range, 92 score butter, at the four principai markets follow: Chicago, 1 lower at 53%: New York, unchanged at 54%; Boston, 13 lower at 54%; Philadelphia, ! lower at 55. EGG AND TURKEY PRICES | SLUMP IN BALTIMORE Decline of Seven Cents Per Dozen of important | i 1 Buyers | FINANCIAL FIRST MORTGAGE NOTES For sule. Comsult us if you ba funds for Lsvestmen THOS. E. JARRELL Wember Washington Keal st Woodward Bldg. Money to Loan Becured by first deed of trust on real estate. Prevailing imterest and commission, Joseph 1. Weller {21 Mgk, & & Truwe 1% First Mortgages $250 and Up Write or Call for “Booklet.” William S. Phillips 15TH ST. AT K . Main 4600. r l | ON FIRST MOR First Mortgage Loans TGAGES Thomas J. Fisher & C , Inc. 788 1600 Btreat T AT CURRENT RATES OF INTEREST Randall H Hagner & C. 1207 Canncolicut Boencue [ Sotablished 1889 JC.L. Rust Cmpany In EQUITABLE Co-Operative Building Association Organized 1870 44th YEAR COMPLETED Assets oo 84,750 Surplus Save If You Would Succeed Make up your wind to join the Chuitable and save svstematically. Subscription for the 86th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY FRANK P. RE| Convenient Denominations For Investors Interest 6%2% 912 &ifteenth Main 6388 Jj e ) EDSON, FPresident SIDE, Sec’y Street Are You About To Make An Investment? Read This! Y( )U want two things—security and the highest interest rates that can be combi with protection. Properly safeguarded first-mortgage real estate notes arc vestments of this character.- These notes are secured by the foundation of all wea —Iland, and, in addition, the improvements and possible earnings as well. Many opportunities (?) are offered by promoters of “wild cat” schemes—soni times they may be a dreamer’s vision, sometimes the enthusiasm generated from overestimated proposition, but oftentimes thev are deliberate frauds. The safe way to invest vour money is through such a house as ours A SINGLE DOLLAR HAS BEEN LOST FOR AN INVESTOR since w lished. THE FIRST vhere NOY MORTGAGE NOTES w 62 % us at_once about your January meeds t. but MAKE YOUR MONE are offering today yield —and are ABSOLUTELY SAFE. Sec with a mere savings rate of intere with security. MORTGAGE INVESTMENT DEPARTMENT NSHANNON - & LUCH 713 and 715 14th Street N.W. Telephone Main 2345 Telephone Main 2346 Telephone Main 2347 CHOOSE YOUR INVESTMEN Don't be PRODUCE a liberal retu Telephone Main 2348 Telephone Main 2349 for Branches No. 1. No. 5 or No. 10 TS WITH CARE Convert Your January Funds Into in Eggs in Week and Three Cents in Day. Special Dispateh to The Star. BALTIMORE. January 12 — The price of eggs dropped 3 cents a dozen in the wholesale market here vester- day, strictly fresh stock selling at $5 cents a dozen. a decline of {since last Saturday. Heavy receipts and warm weather are responsible for the drop. commission men say. i Turkeys. both live and dressed. have 7 cents | | | chickens. | also taken a drop and in some caces are selling lower than Cholce young hen turkeys are selling wholesale at 25 to 27 cents a pound, and gobblers 23, while dressed stock brings only 23 to 25 a pound. Young chickens are quoted at 25 and 26 a pound for live and 26 and 27 for dressed, while live leghorns are sell- ing as low as 18 cents a pound. This drop in price holds good with all other lines of live and dressed poultry and market produce gener ally, the only commodity still holding up in the wholesale price being but- ter, which brings 56 and 68 a poun, for prints and 50 to 66 for good fancy creamery. i ! ° TRADES FOR 55 YEARS; SELLS EXCHANGE SEAT | By the Associated Press | NEW YORK, January 12.—After {ftty-Aive years'of active trading on | the floor of the New York Stock Ex- |ehange, J. M. Amory. who joined the iexchange May 8, 1869, when seats were worth about $1,000. yesterday s0ld his membership for $83.000. He will retain an interest in.the firm of J. M. Amory & Son, which he found- ed, but will no longer take an active Bat In the tm'e businese. orge ). Seidenberg, jr. was the purcreser ‘of the membership. e et TREASURY CERTIFICATES. (Quotations furnlahed by Redmond & Co.) - ———Close—— Bia. 001-16 100332 '100 3 100 2332 100 13-16 100 15-16 101 1-16 100 9-16 100 11-16 100% 100% 100 100(] 100% 101 9 15-16 100 116 101316 101 516 1001 100% 100182 100332 100332 100318 i Beptember 13, 4%s March 15, 1 4335 June 15, 1925..... 435 December 10, 1625 4774 March 1926, 4ilc September 1 455 March ', 4138 December 15, 45 June 16, 19%4..... 4%s December 15, 1024... { t i e X o R R 6%% First Mortgage Notes RESERVATIONS are now being accepted for our January issue of 6149 FIRST MORT- GAGE NOTES. Although this is the first time in a number of years that we have been able to offer our first mortgages at this higher rate of interest, they carry the customary margin of security and bear . our full recommendation of safety and merit. The same security we have offered for the past 54 years, during which time no client has ever lost a single penny of interest or principal on-any investment purchased from us, can be had for a limited time only with an interest rate of 614%. Reservations Will Be Accepted ' Until Your Funds Are Available Swartzell, Rheem & Hensey Co. 727 15th Street Northwest 54 Years Without Loss to An Investor