Evening Star Newspaper, January 13, 1924, Page 30

30 FINANCIAL, District Bankers’ Associat To Make Fraud More Difficult Information Regarding Questionable Characters Will Be Kept on. File. Legislative Program Announced. bankers are evincing censiderable interest in the credit in- rmation bureau, the conduct of} which is reputed to be one of the of Miss Grace Bromley, re- appointed assistant secretary the District Bankers' Assoclation, who takes up her new functions to- rorrow morning. That much of this interest is con- @emnatory, Is entirely due to a lack of understanding on the part of a| majority of the banking element as 10 the real purpose of the bureau. The movement which led tc the ap- pointment of Miss Bromley was the work of the executive council of the ussoclation, and up to the present time the association has not been called together to have explained to the members the teal motive of the bureau—when it begins functioning. I his council ucted in the interests of every member bank, and is putting int) operation a very construc measure which fills a long felt ne it is believed. ) “credlt information bure: secording to Harry V. Haynes, pr “ent of the association and prim {actor in the movement. will not be an office where all Information con- cerning the financial standing of bank’s customers will be avail- other hand will con- activities herinz_in- all Washington infest Washington cther cities. Tn other words, when a erook makes his advent into a local bank with a scheme to defraud, either worthless check, by forgery, or by &ny other method, all information concerning the privcipal and his mods of operation will be made note of and this information forwarded (o the office of the assistant secretary to be filed. It will then be avail- able to member banks who are con- fronted with questionable customers and schemes. Its success is, of | course, dependent on co-operation. Undér no circumstances will ‘the burcau attempt (o secure information from member banks on customers in zood stunding. Data of this Sort, Mr. Haynes feels, is a confidence invested only with the depositary, and should be treated as such. ‘The functions of the new office will carry out the beneficial suzgestions of the weekly bank luncheons. The siep e unanimously azieed to we the most constructive movement in Washington bauking circles sevaral vears. Miss Bromley will have head- Juarte n the Farmers and Me- ! Chanics’ National Bank until the thrift committee vacates the bankers' quar- ters in the Masonic Temple January 23. Heavy Demand for Bonds. Investment houses report a big de- mand for bonds both from individual investors and institutions. Banks are | buying more heavily of bonds than in many months, some houses re- eiving large orders from banks who | have not appeared on their list of | customers for Dprobably two years. With the large supply of funds avail- mble for loaning in the market in of the demand, further henvy ing of bonds by banks is looked as The big flow of new issues pre- dicted for January, and which has been slow to appear in the early days of the months, seems to have gotten under way From $200,000,000 to $250,000.000 bonds and loans are now under active negotiation, though all of them may not make their appear- ance on the market during the cur- rent month. These include the e pected issue of $50.000,000 Federal TLand Bank farm loan bonds, which are likely to bear a 4% per cent coupon The demand for new issues is well shown by the ease with which the £10,000.000 of Lehigh_ Valley Terminal ‘were disposed of Monday on a 5.3 basis, S0 per cent of which was taken | firm by participating houses: the quick subscription of the $13,000.000 Market Street Railway 7 per cent honds at par and the prompt absorn- tion of the $14.000,000 St. Paul 6 per cent 10-year secured bond issue, four o five times oversubscribed, on a 61 per cent basis Friday Bankers’ Legislative Program. The program of state legislation for 1924 of the American Bankers' Asso- ciation, made public by General Coun- ¢l Thomas B. Paton, presents twen- | 1v-four subjects in criminal and civil statutory laws In which changes are recommended to give banking better ' 94 BLOODED HORSES ARRIVE FROM BRITAIN Craigangower, étallion, Valued at $50,000, Among Thoroughbreds. | Ross Gets Eighteen. ' NEW YORK, January 12.—A ship- ment of ninety-four thoroughbreds rrrived_on the Mississippi from Eng- land. The ship had a rough voyage, but it was sald none of the horses was in- Jured. "The thoroughbreds fifteen brecders in various parts of the country. The most valuable is Cralgangower, a five-vear-old chest- rut_stallion, ‘for which Johnson X. Camden of Versailles. Ky., is said to have paid $50,000. The largest consignment to any single brecder goes to P'hil T. Chinn proprietor of the Himyar stud, ingtam, Ky., who will receive s 1 three brood mares. n_head will g0 to the stud of nder J. K. L. Ross. Canadian rfman, at Laurel, Md., while nine hers are consizied o the Leon stud farm of Frede Johnson and 1P Headley at Cary. I Other breeders who will rec art of the shipment include A. ancock. Paris, Ky.; R. B. Fairbain, jestic Coombs, K. T ley, Carruthers and the Coid Stream farm, 211 of Lexington, Ky.: H. V. Colt. Geneseo, N. Y. Julius \iken, §. C.; Col. . M. Alger, Detroit, and Capt. P. M. Walker, Boyce, V. The lone passenger on the Miss sippi was Winnie O'Connor, one-time among the leading jockeys of the world. He was in charge of the jumpers that will be taken to Aiken, 8. C. re consigned to s The veteran rider rode Yankee to vietory in the famous Futurity stakes at Sheepshead Bay in 1901, was on e winning_horses in the Brooklyn Jiandicaps of 1901 and 1902 and in 1906 to 1908, captured many of the ichest turf prizes on the European continent, in jumping as well as flat o Connor has not been able to ride competition because of wounds Cuffered In the world war. He will {pend the remainder of his days as » trainer. he said. - SAVED FROM GALLOWS. Slayer's Sentence Commuted in Last Two Hours. ©HARLESTON, W. Va., January 12. - Two hours before he was to have been dropped to his death from a gal- lows iri the state prison at Mounds- ville late yesterday Jim Alello, slayer of his brother-in-law and two chil- dren, was told that Gov. E. F. Morgan had commuted his sentence to life imprisonment. All_preparations for the hanging had been made, and Warden S. P. Smith, after testing the trap. was ready to take Ajello from the death gcli u few minutes before sunset. I form nerot oy | Fleischmann, | and more uniform protection against crooks and to bring about more wi- formity among the laws of the vari- ous states relating to bunking prac- ce. The praposed enactments to safe- guard banks against criminal opera- tions have to do with the eivil liabil- ity of banks in the payment of forged or raised checks, and with criminal measures dealfng with- false statements for credit, malicious slander and libel of a bank, checks drawn without funds with intent to defraud and with burglary by means of explosives, electricity, gas or other meanx. This last is drawn to keep the criminal law abreast of the prog- ress in technical methods employed by bank burglars, wuch as develop- ments In the use of electricity and oxy-acetylene torches 1o enter build- ings or burn open safes. Proposals aimed to bring about a greater degree of consistency in the civil statutory provisions of the va- rious states affecting banking prac- tice have to do with modification or enactment of laws relating to a uni- able Instruments act, uni bills m ware- house receipts, uniforin sales aet, uni- form Stock transfer act and a uni- form fiducfaries net. Other proposed sures relate, to time limiton stop- yment orders on checks, payment le checks, wiverse claims to sits in two names, deposits in cnex of bank and _corpo non-pa ment of check through error, Satur- on bauk transactions, for- & check direct to payer, mem- Dbership of state banking institutions in the federal reserve system, foreign anking and filing of federal tay The program as issued b al Counsel Paton, under the auspices of the committee on state legisiation of the American Bankers' Association, has been forwarded to the members of the e legislative council of the organization in each state and to the secretaries and members of legisla- tive committees of the various state bankers' associatipns for considera- tion and action by them. The committee on state legislation for 1924 consists of W. D. Longyear, vice president Sceurity Trust and Los Angeles, chair- T. Burker., president Home Savings Bank. Kalamazoo, Mich.: R R. Calkins, vice president American National Bank. St. Joseph, Mo.; F. J. Denison, vice president. Humllton al Bunk, Denver, Colo. M. R. r. president Clinton County Nu- tional Bank, Wilmington, Ohio ter P. Gardner, vice president New fersey Title, (Guarantee and Trust Company, Jersey City: arles S hborn, president ational Bank. Augusta dent Yakim: Yakima, Wash.; dent Commercial National Bank Waterloo, Towa; Charles L. Schenck, vice president the People’s Trust Company, Brookiyn; Harry Wentzy, president Security " Savings Moorhead Wright, nd Mercantile Trust Little Rock, Ark.i J. S, seksmit, vice president Trust and Savings Bank, Chicago: C. B. Hazlewood, vice president Union Trust Compaany, Chicago: A. F. Mitchell. vice president Northern N: tional Bank, Toledo, Ohio; H. C. Rob- inson, viee president Guardian ings and Trust Company, Cleve Unlixted Sccurities Prices. The latest prevailing “bid” and “asked” prices for unlisted securities are quoted for the guidance of hold- ers of these issue form and. Asked, Army and Navy e Cosmos Club 4% Cosmos Club 415y Cits Club 7 Metropol Connecticut Pie Christian_ Heurlc: Raleigh Hotel C Departmental B District Title In change Bank auklin _Nationa Miller Train Munsey Trust Co. North “Capitol Sa Northwest Savings Han Northeast Savings Dunk Park Savings Bank 5 Potomac Saviuzs Bank .. Standard National Bank.. Washington Title Insurance Wasaington Base Ball Club. Woodrldge & Langdon Savs. NUPTIAL RITES START FOR JAPANESE PRINCE Hirohito Today Notifies Father of Bride of Wedding Date, January 26. By thie Associated Pross. TOKIO, January 12-—The first offi- ciul ceremony connected with the wedding of the prince regent, Hir- ¢hito. and Princess Naguko January 26, will be carried out toda when the imperial family’s formal an- nouncement of the selected wedding | date is_sent to the ULride's father, Prince Kuni, and the announcement | made to the spirits of the imperial | ancestors. | " The oniy portion of the ceremonies B | present in_which | have any part is a reception glven to the ads of foreign mis. sions accredited to the imperial court. This reception will be held later in the month when the regent and his ,bride return from Numazu. where they will go after the wedding to announce their marriage to the em- I!lclu!’ and empress, who are winter- ing In that eity. 'RADIO WAVES CARRIED | 1,400 FEET UNDERGROUND | Code Signals Heard Far Down in Mine Shaft—Concerts Recep- tion Unsuccessful. ? By the Associated P { BISBEE, Ariz. January 2. — A | Broup of electricians, radio fans and newspaper men 1.400 feet down in the Junction mine here heard wireless tele- | graph signals in code, believed to have been the first reception of radio signals under such extreme conditions. Efforts to tune in on radiophone “carrier waves” were caught, leading to the opinion that with more elab- orat® preparations radlophone con< certs could be heard in the mines, The experiment was the initial step in testing the practicability of using radio in lecal mine rescue worlk. FLOUR IS UNCHANGED. MINNEAPOLIS, January 12—Flour unchanged. ~Shipments, 49,587 bar- rels. Bran, 25.50a27.00. Wheat, No. 1 northern, 1.13%a1.17%: May, 1.13%: July, 1.13%; September, 1.128. Corn, {No. 3 vellow, 69. Oats, No. 3 white, 4234a42%. Flax, No. 1, 2.44%a2.48%. 543 FAILURES IN WEEK. NEW YORK, January 12.—With lone more business day this week than last week, failures for this week re- ported to R. G. Dun & Co. numbered 543, compared with 425 last week. A Year ago in the same weck 546 in- solvencies were reperted. St From Ceylon are exported some 15 - 4 ) cocoanuls every yeal. Wal. | Bank. | s Harris | sav- | LI NEW incident to the wedding to be held at | foreigners are to! | concerts were unsuccessful, although | D THE SUNDAY STAR. WASHINGTON, D. €, JANUARY 13, 1924—PART 1. ‘BUT SOON REACTS Rail and Industrial Stocks Churned Briskly During Satur- day Trading. Gasoline Advapces Fail to Lift Oils. Strong Spots. By the Assoclated Press, NEW YORK, Januarg 12— Stock {prices were churned about briskly in today's brief but active session, with the standard industrial and rail- road shares showing relatively lttle change on the day. | Week end profit taking was heav- ier than usual, but the offexings, as ta rule, were well ubsorbed. FPool loverations were conducted with suc- {cess In a number of the tobacco, mo- {tor accessory and silk shares. Sev- teral of the rails, motors and steels vielded moderately to selling pres- sure. Evehange Aguin Weak. Acute weakness again developed in ythe forelgn exchange market. De- {mand sterling dropped 11 cents to 4$4.26 and then | rallled slightly. ‘Fr nch and Belgign franc: estab- lished record lows at 4.631; and 4.18 1, vents, respectively. Japanese yen also soid at the lowest price in all time, be- ing quoted at 44.10 cents, United Stutes Steel common again croussed par. but n into a large vol- jume of realizing and fell back Ytu 997, where it was unchanged on the day. A temporary bullish demon- tration in American Can sent that {stock to 11013, the highest price ever irecorded, bui it slipped b later |to 10914, off 3. Baldwin and Stude- haker, the other members of the so- culled “Lig Four” also yielded frac- |tionally. i Ofl Shares Fail to Gain. i Uil shares failed to make any ap- {preciable respouse to further crude toill and gasoline price advances. jMaryland Oil was ‘run up to 39%, but ireacted sharply on the announcement {of a speclal stockholders’ meeting to {authorize the sale of a large block of stock to banking interests. The Mexican revolution continues to ex- jert a depressing influence on the istocks of compunies owning property iin_that country. i, Some individual strong spots were {Tobacco Products, Willys-Overland lvfd.. American Metal, American Zine ipfd., American Linseed pfd., Consoli- |datedCigar common and prd.. Gen- cral Baking. Kayser Silk, Lorillard | Tobacco, Schulte Stores and Tide {water Oil, the gains ranging from 1 to 4'z points. Reading Heads Rail Groupd. Strength and activity of the Read- {ing issues featured the railroad {&roup. Reading common touched 79 “nd then eased to 78%. up Reud- g first pfd. wdvanced 1% jond prd. 11, and the “rights” |ternational and Great jvanced 2%, points on a small jover. Southern Railway was active just before the close, the final quoti- tion of 421, showing a net gain of3 The weekly clearing house iment showed decreases in all princi- {pal items. Loans. discounts and in- vestments fell $28835,000, cash in own vaults dropped $2.483,000, re- serve of member banks In the Fed- eral Reserve Bank dropped ind time deposits, §2.755.000. Agkre- gate reserve totaled $510,165,000, leaving a deficit in reserve of $4,402,2 | Time money and commere {were in plentiful supply {and 5 per cent, {lurlux s In- turn- paper between 43 depending on ma- BOND PRICES HIGHER. {Railroad ‘Mortgages Furnish Best Demonstration of Strength. YORK, prices continued January 12.—Bond their movement to today's brief ses. { higher grouna in Ision of the market. despite heavy !speculative selling in _some of the {recently strong issues. Foreign bond. iwere inclined to vield in sympathy iwith the weakness in foreign change, but the recessions were small. United States government is- sues held steady. Secondary rallroad mortgages gave the best demonstration of strength. ains of a point were record by New Orleans, and Mexico 5s, Missouri Pacific 4s, St Louis. Tron Mountain and Southern s, Fr 4s, serles A Chicago Western Tndlana_4s and Western aryland 4s. St. Paul refunding 4%s again group or so - {ivere heav. { Independent Steel and Packing Company bonds were strong. gains of 3 to 1% points being registered by Morris & Co. 45, Wilson & Co. Ti:s, Armour 71js, Bethlehem Steel 5i:s and Wickshire Spencer - 7s. Indiana |Steel 5%, however, dropped 1%. P INEW INVENTION TO NAP | FABRICS AND GARMENTS CHICAGO, January 12—A new ma- chine to nap new and worn fabric and garments has been patented ly i William Ross, Chicago researcn ,onxlnerr and inventor. According to Ross, old suits and overcoats can bo i restored te original color and fresh- iress. A larger type of machine will | be_manufactured for mills, The machine operates principle, its inventor says. It is of rotary type and the larger size has a five-inch face with 136,000 needles at an angle of thirteen degrees. (n each | needle is ‘a_tiny hook that must b magnified fifteen diameters before i {is visible. As the hooks are pressed inin the i(‘lnth and reieased with the rotary i motion, they bring to the surface one | ena of the fabric and release it, the 1o\her end remaining firmiy anchored. = |FOREIGN EXCHANGES ! DROP STILL LOWER | By the "Associated Press. SW YORK, January records for ms time were on a new 12— ew low H establis {PRICE CHAN&ES ARE SLIGHT! Northern ad- | $21.661.600 | ion Aims!STEEL CROSSES PAR, 'RANGE | i { | the sec- ! | i state- | i { i | | Texas | and | | jin, I i D — FrouAR TauaR. o ‘The chart uve stocks dealt in on the New York October, 1421, up to and Solid curve represents 20 in, section indicates volume of sales of compiled by the Wall Street Journal. OF MARKET vove shows the high and low, by weeks, of for! including the strials and outline cur AVERAGES - repreventa- e fiist week g January 12, 1924, e 20 rafls. Lower Averages used are those Stock Exchange.’ from tl week end all stocks. The Year 1924 to Date on the Washington Stock E Furnished by W. B. Hi Up to and including BONDS. and . Tei. of \° 20.000—P. 15 P. 6s, 1953......... 10,600—C. ar Telephona 1st .300—Capital Traction Ist Sales. $15,000—C". . Power 1st 5s Power cons. Lizht gen. L000—Pot. L300 W 00— Wash. 00— Wash. 3,000—P. E. P. an Park 6s. STOCRS, Traction National X Amer. Security and Trust. pntinental Trust atienal Savings and Trust.. Merchants' Bank and Trust. ~Bank of Com. and Savings. —Mergenthaler Linotype 23—Lanston Monotype . 358—Washington Market . UNLIST 1—Departmental Bank 106—Standard National DI Ba LIVE STOCK MARKETS. ALTIMORE, Md.. January 12 (Spe cial).—The live cattle market rules steady to firm. with receipts running lighter and a fairly good demand noted for top-grade cattle. Calves are n especially good demand, and where of good quality with ready sale at top values. Prices at stock yards are a shade higher than the following quotations today at Light strect Wharr Beef first quality. Ib. 7 to to 6. Bulls, as to ws, choice to cattle. 8; medium, ib.. quality, 1b,, 4 to fancy, Ib., 4%z to 51z: common to fa Ib. 2 to 4. Oxen, as to quality, 1b. $15 to 514, Milk_cows, choice to fancy. head. 50.00 to 75.00: common to fair, head, 30.00 “alves. veal, choice, Ib., ordinary to medium, 1., 10 to 12; rough, heav common, 1b, 8 to 9. Sheep, choice, 1o 6. Old bBucks, 4 to 412i common, % to 3. Lambs, spring. choice, 1b. 13"to 14; fair to good, 10 to 12; com mon, thin, 1b,, 8 to 9. Hogs, straight, Ib. 7 to 8. Sows. 5 to 6. Stags and boars, & to 4. Live pigs. as to size and qualit. and quali NEW YORK, January 150 ‘head: steady state bulis, 3.50a to 8. ttle— Calves—Receipts, 330 head: steady: veals, 16.50a17.00; culls and little calves, 7.00a9.00: grassers, 5.00a5.50. Sheep and lambs—Receipts, 1,810 head; barely” steady; sheep, 4.5026.50 culls, 2.25a3.25; lambs, 10.00a14.50; culls, 8.00a10.00. Hogs—Receipts, 780 head light to_medium weights. pigs, 7.50a7.75; heavy hogs, 7.45; roughs, 6.5026.75. EX;IVIDEND l"A’BLE 7.35a dpbuilding Co. pf. achian Power Ist pf.. o Nichols & Co. pf. aroling P'r. & Lt a. « Con - { Con L a ed in today's forelgn exchange mar-|Crocible Ntesl Co. ' i {ket by French francs at 1.62 i Belgian francs at 41813 ce and Japanese yen at 4410 cents. Local oreign exchange dealers reported that the ‘bulk of the selling orders came from Iuropean firms, relativ littie Dusiness originating in this center. OIL MEETING CALLED. ts Marland Directors Propose BigUnited C | Amalgamated Sugar 1st pL., q..... Stock Sale to Syndicate. NEW YORK, January 12.—Direc- tors of the, Marland Oll Company to- day called a stockholders meeting for January 24 to vote on the proposed authorization for the sale of several hundred thousand shares of stock to banking syndicate, understood to {be acting for the account of the Standard Ofl Company of New Jersey. | President F. W. Marland said a pre- vious statement of the proposed sale had been recalled to permit the stockholders’ suffrage. The price was not announced. DRY GOODS MORE ACTIVE. CHICAGO,. January 12.—Marshall Field Company says eurrent whole- sale dry goods distribution exceeded that of last week, although it falled to reach volume of a year ago for the corresponding week. HALT GOODS FOR MEXICO. ST. LOUIS, January 12 (Special).— cents, | Fort Worth Pr. & Lt. pf. Int. Shoe Co. imo. inville & Moon Motor . Dept. nckard Mot Pab, Sers. ( Pub, Sers. Pub. Serv. (N, IL) p Phila. Rapid~Trans.. Reynolds Spring, a. “nited Drug 1t pr.. d.- w . Pow. Bl ... January 16 Connecticut Mills 1st pf. iac Storey, - 111} no par, q.. Tuternationsl Nicke Shell Trans. & Trad January 18— Alabama Gt. South. pf. Burns Bros. pr. Dl Indiapa Pipe Line. a...... Loore-W, Bis. 20 pf. ash Motors Co., . Nash Motors Co., Nush Motors ¢ Company. Cosden pf...... Callfornin Paci Col. Carbon. Kfman_Dpt. Btores. . Ltd. Prod. & Ref. pf. 8. 0. of Ohio pr. BANK ISSUE TAKEN. BOSTON, January 12.—The offering of $10,000,000 of stock of the Brother- Thood Investment Company, holding and investment company for the nine banks controlled by the Brotherhood Although the border Mexican ports|of Locomotive Engincers, has. been of entry are open, sixty-five St. Louls | oversubscribed by exporters have discontinued ship- ments of goods to Mexico until con- dillens become more settled. - 1 several hundred Frank L. Dempsey, hourand dolla ; Boston office. an- manager of nounced today. Ib., 9 to 10. Shoats, as to eize | xchange. bbs & Co., Hibbs Bldx. Saturday, Jamuary 12, 1924, zjond % to PARTMENT. BALTIMORE PRODUCE. BALTIMORE, Md., January 12 (Spe- ial). —Due to heavy receipts witl the demand has not kept pace and return of warm weather, the mai- ket for strictly fresh native and neur- by egks showed a sharp decline the latter part of the week and price drorped to 35 cents a dozen, a decline of 7 cents from last Saturday. Buy- ers continue to be very critical, how- ever, ouly first-class stock will price. as held eggs have to be sold at a discount. The live and ssed poultry market is also lower th dressed ~ turkeys showing the L decline, selling lower taan ns and live stock but a cent higher. ” Chofce voung hens turkeys | bring 25 to 27 a pound, gobblers 23, old toms 22" and poor and crooked breasts 18 to 20, while dressed stock |sells 18 to 25. Live voung chicken: {ana ola are holding up bette Lens and are steady at 25 and 26 for large, small to medium, but which and %2 1o 24 for rough, thin fowl are slow sale at 1§ to 20 und leghorns will not bring over 23, Deck and geese are fi a nand for fat st former and small and poor fo | not bring over 18 ‘15 2y | Pigeons and guinea fowl continue in only moderate receipt and under fair | demand are steady at 25 to 39 a pair | for the former and 40 to 63 each for | young and 35 each for old of latter. Choice to faney ducks are the | only line in dressed poultry that will bring a premium over live stock, sell- Ing at 25 to 25, The white potato market continues {Steady under moderate receipts. and demand fairly good for No 1 stock, which sells 150 to 2.00 per 100 ipounds, with the exception of Mary- | land and Virginia McCormick’s, which | {will not bring over 1.75, and 1.00 to 11.10 for No. 2 stck of all sections. |Hundred-and-fifty-pound sacks sell- ling mostly 1.50 to_3.25 as to qual- lity and condition. Receipts of sweets {ana vams have Leen running more | liberal, with many showing effects lof the frost, and with demand easily isatisfied the market rules easy at 5.00 to 6.00 a barrel for the former and 100 to 00 for the latter. No. 12 stock of both slow sale at 2.00 | te 2.50. Bushel baskets of both bring 1.00 to 225 and 4-8 baskets, 15 to i Native and nearby also in moderate receipts on most lines, and with errival of early soutli- jern vemetables the market ruies easy with prices mostly in buyers' favor at the following quotations: Beets. 4.00 to 6.00 hundred; brocoli and kale. 30 to 35 bushel; brussels sprouts, 20 to 25 quart; cabbage, 4.00 to 6.00 hundred; caulifiower, 2.30 to 3.50 barrel; carrots, 4.00 to 5.00 hundred: celery. 50 to 1.00 dozen; horse rad- ish, 3.00 and 4.00 bushel: onions, 1.50 to 3.00 per hundred pounds; oyster plants, 6.00 and 7.00 hundred; pars- ! nips, 45°to 55 basket; spinach, 75 to | 1.25 bushel, and turnips, 40 bushel. Receipts of apples continue ample, land market rules easy with only the best brands of eating stock command- ling any attention at 3.00 to 4.50 a barrel for packed stock and 2.00 to 250 for No. 2s; bushel stock moving slow at 50 to 1.25, and loose bulk apples not active at 1.00 to 1.50 per ihundred pounds. garden truck .BETTER GOODS INQUIRY. NEW YORK, January 12.—Cotton goods market was steady but qulet today. More inquiry was reported in | different divisions of the ~primary markets looking toward a more ac- tive trade next week. Burlaps were easier, following news of large ship- ments from Calcutta, totaling over 100 million yards for December, and running over a billion yards for the past year. Yarns were in more de- the | BUYING IN STEEL IMPROVES IN WEEK per Outlook—Review of Other Metals. By the Associated Press. NEW YORK, January 12.—A fair de- | mand for steel was noted this week | and the predicted buying movement | appeared to be getting under way, al- though the market was still spotted. The trade anticipated a good demand for structural materials, plates and railroad equipment, and producers were believed in a position to main- tain prevailing price levels. A slight- ly better demand appeared for pig iron, and evidences of increased pro- duction were taken to mean that pro- ducers were confident of favorable tuture developments. ¢ Copper was easier. Export interest was checked by fluctuations in ex- change, and at recent exchange rates it was sald copper was available fn | Europe at prices below a parity with American markets. This increased | conservatism of buyers for American { consumption, and while it was be- lieved considerable copper would have to be purchased to cover March and second quarter requirements, very lit- tle demand was reported during the week. This resulted in further price shading. Tin crossed the 48-cent level for straits, with operators and dealers g00d buvers, although consumers still bought sparingly. Lead was firmer through like offer- ings of promnt and a generally good trade outlook i | Zinc showed firmness on a better | consuming demand. with dealers bid- ding for future shipment. Most pro- I ducers have sold considerabie of their January output and did not press sales. - Antimony was steady, with {ings light, and a fair demand i consumers’ for afloat lots LIS CORN HITS HIGHEST PRICES OF SEASON Oats end Wheat Also Move Higher During Lively Grain Pit Trading. Bs thie Associated Press. CHICAGO, January 12 ver- | ¥s of corn closed today at the high- | est price yet this season and so like- | wike did May und September oats. fwith wheat rallying as well = larged buying of corn near the end tof the day was chiefly respoasible | | Net gains were 3 to “ale for corn| e for s. Wheat flnse‘u} firro, unchanged to Fa‘ze higher. ln‘ provisions, the outcorie varied from i3e decline to a rise of Ze. Lxcept for u few minutes at the start, corn and wheat showed a down ward t sney duritg the early trade. sredietions. were current that an in- ‘xr ed movement of corn would jtake place next week if weather and prices remained favorabie. Country {offerings cf coru today, however, were ivery light, and there was a sudden [change from hear sentiment afte inews got out that bids from here to {foeur differcnt states | e big firm | had resulted in the p ion with th remarkable ¢ the corn riarket it cxplained that live stock 2ed- crs are paying higher | rices for ¢ tions and that as u resuit | and Februar: offer- from i i All deliver- | } i quality of much « being felt, and extra des the exhaustion of the old crop i t deal earlier than the averaze an additional factor. Fur- visibl heks are only itout half what they weve a y A fresn acvance in wheat it Liverpool was of som jto wheat Dulls {crop damage in Franc |handa. Oats showed Istrength as a result | shipments from here. | Provision, wer: upncid ! hos. ' SALES TOTAL $15,000,000. ! Co-Operative Tobacco Marketing ! ! Plan Called Triumph. { LEXINGTON, Kr. Janus 12 {sales of burley tobacco during the | week reached $15,000.000. it was an- {nounced here today at headquarters ‘of the Burley Tobacco Growers' Co- operative Association. Names of the | purchasers were not given. Prices {were not stated, the announcement | {merely stating they conformed to in- | structions of the assoclation directors : to_ite officials. The sale is regarded as a triumph n co-operative marketing in Ken- {tucky. The association has 100,000 members in Kentucky. Indiana, Ohio |and Tennessee. . independent Evod sized of by corn und | Haskell, FINANC IAL. COTTON MARKET RALLIES. Saturday Declines Largely Wiped Out in Final Trading. NEW YORK, January 12.—Further declines in the cotton market during today's earlier trading seemed bring in more trade buying, and af- ter selling off from 24.10 to 32.50 for March the market rallied on covering. March closed at 33.84 bid, with the general market closing irregular, net 5 points lower to 10 points higher. _Trade buying made its appearance during the middle of the morning, giving the market a steadier tone, and there were recoverles to about yesterday's closing quotations. Janu- ary was relatively dull and steady during the day. It was reported that ocean freight room for 5,000 bules had been engaged for shipment out of the New York stock for Japan. The amount of cotton on shipboard at the end of the week awalting clear- ance was estimated at 152,000 bales, against 115,000 last year. HITCH IN OIL HIATUS. NEW YORK January 12— The prog- ress of negotiztions under way for a settlement of the Southern States Oil Company stock hiatus between (. N. former Governor. of Okl homa, ‘and the brokers who twere members of the “Haskell pool” wa further complicated by the announce- ment of counsel for the brokers yes- terday denying that any sis of settlement had been agreed upon.” Previpusly it had been understood that Mr. Haskell had made an offer of $1% for balances due to brokers, the amount to be pa 50 per cent in cash and the remainder in notes. WEEKLY BANK REPORT. NEW YORK, January 12—The a tual condition of clearing house banks and trust companies for the week deficit in reserve of $4,407,- d $21,791,44 MONEY DISTRICT OF CHEVY CHASE, 5Y%% H. L. RUST COMPANY 912 15TH STREET LOAN CORR N bR COMPANY to| ONDENT FOR THE COPPER PRICES DROP. NEW YORK, January 12—The cop- per market has rema‘ned qulet during the past week, and prices have de- clined to about 12.623; for deliveries cxtending over the first quarter, al- though some seilers are asking 12%, for forward shipments. Iron firm and unchanged. DON FIRM WILL capital for any businers pequiative possiiilities provided prn- moters are’in 4 position {o ‘pay expensen 1 connectlon with registration of con in Eogland. or advertis! " e Write A. I Lincolns Inn ¥ Tondon Coatineatal Trust Company Capital One Million Dollars 1th & H Streets 1l [T =Y 79, First Mortgage Notes Secured by fOrst deed of trust on high. class improved D. C. new homes. f.r vaale in dsnominations of $350 to £5,000 Y& GORY. 807 ioth HW. oney to Loan Secured by first deed of trust on real estate. Prevailing interest and commission, Joseph I. Weller 43, Weah, L & Zrist FIRST MORTGAGE NOTES For sale. Conault us If you have avaiiable funds for investment. THOS. E. JARRELL Wember Washington Real Estate Board Maln 766 ST . desires permanent o cation or leadquariers ‘in Washington. stocks or insuratice considered. | Excellent pro Jlous record. Wiai Tave sout ~ Addrews Ho TO LOAN ON COLUMBIA AND MD., RESIDENCES Interest MAIN 6883 PRUDENTIAL AMERICA N.W. oF PERMANENCE OF SECURITY, PERMANENCE OF INCOME, PERMANENCE OF VALUE Own do not ers of these mortgages need to revise their holdings semi-annually for the purpose of getting rid of se- curities that have depreciated. Mortgages offered by us are Geeret proved Quartcr of a careful Century Without a Lo. secured by conservative pay a regular return every six months. high-grade, im- real estate, based upon values after a appraisal. OUR 79: FIRST MORTGAGES B. F. SAUL CO. Main 2100 1412 Eye St. N.W. Please send me circulars describing your offerings of 6% % snd 7% First Mortgage Coupon Bonds. mand. Wool goods were qulet. Spring apparel moved better. R e Approximately 25,5¢0 persons are cmployed in the manufacture of pianos in the United S Name ....cccovneen | WHY TAKE LESS THAN 6%6% or 1% ? WHEN you can get these rates of interest with absolute safety on First Mortgage Coupon Bonds that are strongly secured by improved, income-producing property in Washington, D. C., why be content with lower rates of interest? Put your funds into investments that combine attractive interest rates with this Company’s record of no loss to any investor in 51 years. Mail the coupon below or telephone Main 6464 now for descriptive circulars. $100, $500, $1,000 and $5,000 Maturities: 2 years to 15 years ke F.H.SMITH COMPANY Founded 1873 °* SMITH BUILDING 815 FIFTEENTH ST. Denomination \ tveeviee... Address ........