Evening Star Newspaper, January 17, 1924, Page 27

L 0UTPUT SHOW WARKED INGREASE Gasoline. Stocks Gain to Ex- ;. tentof 1,401,991 Barrels in Month. By the Associated Press. NEW YORK. January 17.—Gasoline + Btocks increased to lhe extent of 1. 401,991 barrels during December, ac- ‘cording to reports reccived by .the “American Petroleum Institute, cover- ' -Ing approximately 65 per cent of the operating refining capacity of the :United States. Pipe line and:tank ‘krm crude ofl “stocks east s Rockies increased 334,000 barrels in »December. o, The daily average gross crude ofl . production of the United States in- |=creased 12250 barrels, totaling 1,896,- 800, according to the weekly summary., ot ‘the ins . The daily averago Iproduction eust of the Rocky maoun -tains was 1,191,500 barrels, an in crease of was 4,500. - "Daily 28t Drincipal porte. Tor ook eied sJanuary 13 were 205,867 barrels, vom- sbared iwith 203,143 for the previous Week. Dafly average receipts of Calle (sfornia oil-at Atlantic and gulf coast “ports N eig, gl 143 barrels, compared L IWith 204,429 for me > previous yeek: “BALTIMORE SECOND i IN CLOTHING MAKING 2Bpecial Dispatch to The &tar. %, BALTIMORE, January 17.— Mary- 7land ranks eecond in the states of Ztlis country in the volume of men's :lurn!ahinsa manufactured, according o figures compiled by A. S. Golds- \Jorough. executive secretary of the +Merchants and Manufacturers' Asso- Z¢iation. The output of the. state s SYalued at $1¢.000.000 annuaily. Of this Itimore makes clothing amounting »to_over_ $13.000,000. I, New York is'the only city exceed- dng Baltimore in the manufacture of saen’s clothes, Mr. Goldsborough said. Ehicago and Phildelphia are nest in Tank. e -Washington Stock Exchange. ‘ll a5 Bf".”;{k:n”il 000 at 1003, $500 " Potomac Electrie 84 1033 $500 at 101%. Lanston Monotrpe—s at 711 T ashington AFTER CALL. ‘Washington Rey. & Elec. 4s—81,000 Moner—Call loans, 5 aud 6 per cent, BONDS. Bid and Asked Prices. PUBLIC UTILIXY. = - . Telephove s, Jelephane of ¥ “Capital Traction R. (‘uy & Suburian Si. eorgetown Gas etropolitan R. n fi tomnc El P. & o ,'nv. Rwy, & Ele MISCELLANEOUS. < Re Tigas Remity Ba (short) Wash. Mkt Cold Ntorage 5. Wardman Park Hotel 66.... : STOCKS. PUBLIC UTILITY. 1 Amm.n Tel. & Telga. tal “Wash' R Terminal Capital Columbia cond 5 National Bank of Washingto TRUST COMPANY. “American Security & Trust Continental Trusi Merchants’ Bank.. Natlonal Savings & Commerce & Savings. Fast_Washington. Fecurity Bavin; Seventh Street . . TITLE INSUBANCE. lambia _Title . v ;&.“1' Estate Titis. T 3 “MISCELLANEOUS C. Panet pta Sertihnaty: 1oy - Bergenthater ' Linotype. Qi “Duteh Market com. Dl Dutch Market ptd oty Starage Secur Washington M ellow Cab. ¥ Exdividend, TREASURY CERTIFICATES. (Quotations farnished by Redmond & Co.) Beptember s March. 15, S8 Jive "o, 100 73.33 100 7-82 1g0% eptember 15, 190 9, Mareh 15, 18 101 7.83° 1ls Docomber” 13, "1027. 100% June 16, 1024, s December 15, 102 SHORT-TERM szcm_m'm. ! (Quotatiogs furaished by Red: \Mumlnum Co. of Amer. luminum Co. of Awer. I Americaz Cotton il gs 1024, merican Sugar U5 193 hio it Northerg_ 54 [ &anteal Argeotine Rwy ea 1 ainal Lekibe b «i«::..’: anu l-lum ulnn s 1990 1ot - b " e 081, 107 PARIS, January 37.—Prices moved the ~bourse _today. “Three per cent rente: ncs 95 ;c“m":s Extillunls ol'“x London. 90 o835 centimes. Fiye. n 1 france. . The. Aol 'quoted et 21 francs 2¢% centimes. / of the; e California production 701,800 Darrels, an increase. of average imports of potroleum ! ; | approximately —— er. 1 00 %) cent “way | Alive, ‘Tips for Taxpa&grs - No. 18, Clalms tor deductions for, losscs on what Is known as “wash sales” —sale and immediate repurchase of /gecurities—are oxpressly disal- lowed by the revenue act of 1921. Under prior acts there wus no pro- vision which prohibited an owner ©f stocks or bonds from selling his securitles at & pricé less than that for which ‘they were purehased and deducting such loss, even though they were repurchased im- mediately. Under the present statute nq de- duction s allowed “where it ap- ars that within thirty days be- | fore or after such sale or disposi- ' tion the taxpayer has acquired (other than by bequest or inheri- tance) substantially Identical property and the property o ac- quired is held by the taxpayer for any period ater such sale or dls- positlo Gwners of stocks and bonds can- not deduct from gross income amounts claimed ag lossgs on ace i count of shrinkage of Aalues in such esecurities through fluct tions in the market or otherwise. + The foregoing applles only to i~ owners and {nvestors and not to dealers in securitles, who. by means of the inventory, are given the benefit of shrlnkuse of securi- i tles in which they deal. As a general rule deductions for losses are allowed for the year in which they are sustalned.” How- ever, In order more clearly to re- flect’ income, the commissioner of ! finternal revenue may permic the , deduction of a loss in a year other than that in which actually sus- tained. The taxpaver, In his return or an amended return, may deduct a Tons ORIS or ihe year in Which sus- tained. 1t he desires to account for his loss as of another period he must attach to his return for that year a request for considera- tion of the case by the commis- sloner, together with a complete statement of the facts. Allowance of deduction for a loss other than in the year in which sustained is entirely within the diecretion. of the commissioner and is allowed only in exceptional casee. HUGE TAXICAB MERGER NOW BEING PLANNED By the Assoctated Press. CHICAGO, January 17.—Preliml- nary arrangements have been com- pleted for a merger of the Chicago Motor Coach Corporation, the Fifth Avenue Bus Securitles Corporation of.} New York and the 5t. Loufs’ Motor Bus Company, according to a state- ment issued here. The details of the deal are {n the hands.of the attor- neys of the respective companies. The annual mectings of stockholders of the Yellow Cab Manufacturing Com- pany, the Chica, Yellow Cab Com- pany and the icago. Motor Coach Corporation were held yesterday, the first_in- Portland. Me.; and th¢ two latter in New York. FIGHT HIGHER GASOLINE. Northwestern Organization Joins in Price Opposition. Speeial Dispatch to The Btar. ST. PAUL, January 17.—Active op- boullnn is being waged throughout northwest against Increases In the prices of gasoline. The South Dakota state government is selling direct to consumers. Minneapolis is considering the establishment of nu nicipal filling stations, and the S Paul motor organizations are plan- ning a.service for thelr members. Prices here are 18. St and 21.9 for m:h test gas per gallon. PHILADELPHIA, January 17.—The embargo placed on the shipment .ol crude oil from Tampico by the Mex! can revolutionlsts will have an im- mediate effect on refineries here, as 30,000,000 . gallons of is recelved herc cach xican ol month. ——————a SHIRT USUALLY SUFFERS. 54 22 ° | Automobiles and Radio Outfits Now 1 Get Family Funds. Speaking_of the sluggish cotton {textile markets, & mill official has | !this to say in the Wall Street Jour- inal: “Ie it any wonder that cotton |Boods are not selling In these days | of competition with gasoline and the radio? It is estimated that 5000,.- 000 automobiles will this vear. Think of - the gasoline consumed to operate these cars. Now. which can you get the most fun ouf | of, a new shirt or five gallons of gas? my: here was a_time when a home to be perfectly appointed had to have 2 sewing machine and a plano. Now ! it is a radio outfit. The initial {nvest- ment in radlo is usually small. To reach Schenectady delights the radio fan for a while, but then he wants to | hear Havana and then Indla Ad- ditional expensive apparatus is re- quired and mainténance expénses in- creases. To meet this it 1s the shirt budget that usually suffers. It {Surprising how. far a shirt’can made to go. E TOURIST RUSH SEEN, Travel to Alaska to Eclipse 'Au Becords During . 1824 Bpertal Dispateh to The Sta o SAN FRANCISCO, January 17.—j | Tourist travel to Alaska this year' @ 3‘,« { will eclipse all previous records, ac- jcording to stéamship tompanies here { which “operate vessels in the ndrth Pacifio. One compeny Teports that more than 300 advance | bookings Have been made already. This i a record i for this time of year.. Another com- {pany has 500 resorvations enguged | Thie increase in travel is attributed to advertising campaigns comdugted bY c1vio organizations and tflnlpo‘}!n tion companies flurlnt the winter. SHIP ORANGES ABROAD. Australia Taking First Fruit Frnm U. 8. in Ten Years. Bpecial Dispatch to The Sta; SAN - FRANCISCO, January 17-— Two cArgoes of oranges, totaling 10;. 900 boxes, will bo shipped to Aul(n,ll'l this we: hi tant uhlpm-nt of ellrul (rult 10 the nntlpodu for “("‘ lIluv, ‘ten years. -Ten | 250 Australls, in an effort: u!mul- fruit beduttlou unu? zou: steps to “provide against American ! eompclltlon- TM Festrictions have 1ons e about two weeks.. SIS CHRAs IRON OUTPUT SOARS. 1023 Productién Exceeded Only. .. Twice in History. Production of tron ora for 1 lllmlt‘d by the Interior ep"‘ hoerd t ,000 gross tons, cra :e ot 49 per cent as with that mined in 1922. an in- Orcbfl'i‘?lrég e from mines in 1923 s eullmltu;ni\ 70,433,000 gross tons, valued at $244, 0, an increase of 39. re per grovs ton at f was, nut at §3.47 an.m-t u ] !t- i 'of ivon mining only by that of lufil 1923, 4 Ifllnt declaréd, -Dpnn to be the highest in the hi lx having been exceede: - —— 1917 and 1916, ‘ LIVE POULTRY HIGHER. CHICAGO, Janu 17.—~Poultry— I roosters, be produced | The l;lwar 1s obviuu ; 1 buy the gas | 1f. THE EVENING. STAR, WASHINGTON, BANKS LOAN LARGE | SUMS ON NEW HOMES ‘Snvmgn Institutions in Bnltuann l Change Polioy During Year, | Reports Show. BALTIMORE, January 17.—An an- alysis of the December 31 reports of _the mutual savings banks of Baiti- ore shows an increase of 7,683 in - the number of depositors and a gain. ©Of $8,374,000.30 in aggregate deposits. This, more than anything else, shows that 1923 was a highly profitable year {to_Baltimoreans. In:the past there' has been samo criticiim of the fact that the savings banks put out such a small part of their funds in real estate mortgeg ITifa year of 1023 suw & big change in this ‘respect, because of the $8,37%, 69.20 gained in_deposits the ban! nvested $7,229,072.89, or more than per cen e increase, in mort- {gages. This means.that the savings jbanks loaned approximately seven- eighthis of their increase in deposits to their depositors for the purchase of {nomes. timate of the gain of savings deposits in_national banks, state itrust companies, would be about on ihalf of the amount gained by the sa; inge banks. 1 such is the case it would mean that during 1923 Ba {timoreans incredsed their savings by approximately ,500,000, exclusive of amounts piaced in homes, secu ities and other forms of permanent investment. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY HAZELTON, Pa, January 17.—The mild winter may cause a curtallment of output in some of the anthracito mines fn_ this section, according to independent operators. Thev say that With & maximum tonnage of anthra- cite being mined and an overproduc- tion of biturminous, the markets are belng oversupplied. BOSTON, January 17. —Accordln to | the Hoston offices of the New River oal, fifteen mines of the concern In the south have been closed becauge of prevailing low prices for smokeless coal combined with present high costs of production. Retail prices of an. thracité touay were advanced 50 cents a ton to $15.50 delivered for all sizes e cept pea, which is quoted at $12.50. NEW ,ORLEANS. January 17 partial survey by the Department ot Agriculture indicates that the loss to frujt vegetable srowers from the Jecent cold spell will oniy run from to 30 per cent. The Satsuma Orange | groves were not badly hurt. CLEVELAND, January 17.—All. the mills of the Otis Ste¢l Company now are in operation, and the volume.of ili.d orders on the booky. i» the largeet in months. The Riverside Plate Mill, which has been closed for two vears, has been put in | commiesion. GRAND RAPIDS, Janyary 17.—Buy- ing of furniture for future needs by retailers still continues of heavy vol- umc, and fully: 2,000 visited this market since January 1. DETROIT, movement: Pere Marquette road, indicate a heavy idecrease in outgoing freight and a slight falling off in the volume of inbound raw -materials. PORTLAND, Ore., January 17.—The outlook for apples today is better than at any time this season. especially -go- in -Oregon. - A recent survey Indicates very limited hold- or Mosler. GETS BARGE CONTRACT, Bethlehem S!eel dompuzy Closes Standard ‘0il Deal. Special Dispatch to The Star. BETHLEHEM.- Pa., January 17.— {The Bethlehem Shipbuilding Corpo. A prominent bankor sald a fair es- |} company’s This is' UNITES BUYING UMTS. ?mlmh Railroad ‘Adopts New{: . Efficiency Plaz. PHILADELPHIA. January 17— Consolidation of the purchasing de- |bartment of ‘the Péansylvania riil. rond to bring the detalls of all four regions - directly under. the per- vislon of the general purchesing agent here was annmounced yesterfay at the general oftice of the eystem. The ‘agtion, s statement by the company said, was In the “Interest of added efficiency and economy.” In place of the present arrange- ments, under which each region buys its own supplles, materials wil] be classified in groups, with an officer charge of the buylng in each Hanret T, the present generai lpurchn-lnx et il continue.. i charge of 'the Philadelphia head rters, with _assistant agents at rm-bur:h Chicago and St Louls. EX-DIVIDEND TABLE uary 21 Peabod, ,Colnmhhn Carbon Co. Exchaage Butet Corg. Peae gar Ref. |r.a-m Sugar Rer.’ i et Rody Corp q. o Tasior oy ’.1 oCrory Stores pf. Genersl Ciear Ce Iat. Combustion Eiel Prod Refiners I i D. C, THURSDAY, JANUARY' 1924, COAL PRICES DROP | DISCOUNT RATE RAISED. SUG“'“.Y IN:WEEK({ Bask of Prance Makes Second Aa- vance Within Week. IAPANESE ACT TO HALT | - : SHARP BREAK IN YEN| | Specie Holdings in Foreign Coun- % |pension. Recent Cold ‘Wavte Too Short:to Boost Sales—Little : Worry Over Strike. Specisl Dispateh to The Star. NEW YORK, January 17.—Coal Age, 1a_its weekly review, say The soft coal market is in lfled con- dition, notwithétanding the low prices quoted. Productlon is casily absorbed, spot business is actlve and contract coals are moving In steady volume. Reported quotations fof contracts range all the way from 25 cents to 75 cents above current spot figures at New York to from $3 to $3.25 at Phil- adelphia, with reports that a quota. tion close to $1.65 had been given to a southern rallway. The also are reports that some high-grade north- ern West Virginla coals were being held close to $2.95. Strike talk ie having csarcely any effect on con- sumers, althdugh at Pittsburgh lherc fs & Dellef that there will be & sus- The cold wave which covered most sections of the country recently was of too short duration to have any last- ing effect on the coal markets. Do- mestic sizes of anthracite ure easier end quotations for independent prod- uct are slightly lowe PARIS. January 17.—<The Bank of France today rafsed its discount rate to 6 per cent. The rate was raised a Week ago to b5 per cent from 5 per gent: at which it had steod since larch 11, 1932. The bank rate through the war 04 until Aprl, 1820, was & per eent. t was ralsed.to 6 per cént on that date, reduced to 5% per cent/on July 28, 1931, and 8till further reduccd to G per_cent in Mareh, 1923. DIVI];ENDS. ---and join the march of those who are buyers have ings of apples at either Hood River: headed to Success vl THIS IS OF - INTEREST TO YOU IF YOU ARE INTERESTED IN YOURSELF ration, Ltd., has closed a contract to °| construct six steel barges for the IStandard Oil Company ot New Jersey, {to be used in the Ohlo river scryice. The barges will be towed to the - iOnto river from the Sparrows Poini lant. The journey down the At- untic Coast up th Mississippl and Ohlo rivers is about 6,000 milee. The barges are propelled by fusl {oll engines. ‘They will carry 2,000 Ibarrels of fuel ofl {n bulk, and a dead lweight of about 290 long tons. | ——— | MOVING, PACKING & fl'o“fl‘ HALF BRIC o o from New Jerse v York and il Sew Englaud e ornk Jumuny and ¥ ebrogey: i Transport. Movers, 327 'S, 16th METROPOLITAN \; AREHOUSE GO. | BTORAGE. PACKING AND SEIPP ! Phone_Potomse €82 30 Flerids Ave. N xCl,EA" DRY_BTORAGE IOP IUl'llT RE Estiute cheatfully i Who Moves You ¥ Is Just as Important as ere You Moveg ¢ Phone Malo 6900—Qur padded vass and_evperienced aad Careful Taen are- 8t rvice. our ‘serv £ Y08 orete I our Sreproot furniture ware- $ house at_reasonable rates. € Storage Co., ]é; 920-922 E Sh'm N.W, Telephone Main 6909 mm—u» AR fl"fir‘kz“‘ ¥ UNIO (2o STUDAXF i COMPAN P 3 & Merchants’ Transfer &g : |SEPARATE' ROONS, 15575 | Tooal a3 Long-Distagoy MOVIN¢ iBy Careful Men. i PACKING B 182,000 while in our long-distavce vams. North 1 Fa i U bt N 'R‘i‘i:éj)'('fiifi PM:I(III SHIPPING - Move iemd.flg:fi.%y by flllli—lm—hll. Red Ball Transit Co. The Largest Truck! Organization in 4§ Woolward Bldg. FIREPROOF TORAGE | @, Rntes Reanonable, Goode insuréd | A'!To'\“nz cArrrAE afohu}t 1 845, !. T wisest, kindest and most interesting counselor of thrift our country ever had. ! stock tries to Be Used to Aid Importers. By the Associated Prees. TOKIO, January 17.—The ‘ment has decided to release its specic holdings abroad to finance the fni- portation of articles considered abso- utely necessary, The action follows recent wfead: decline of the ven in foreign cx change, which_prgmpted a number of the largest Jaujandse importers 1o ap- proach the government with a de- mand that it employ its reserve io stabilize exchange. Jow point ed by the specic reserve abroad-| the govern- | 1e¥eaid to mhave caused ment to look with dsfavor upan the request at the time, and it was oo sidered likely that the government's hand in the matter of foreign loan would be forced. Refusal of the government hereto- fore to employ its specie holding: abroad to retard the downward tend ency of the yen has been considered one of the factors in the declin the exchange rate, in the opinic Japanese financiers, = Are You a Suckert Too many people put their momey in day’ dfeams and wake up broke. Never put your namte on the dotted line un- til you have inquired of some one in your bank what he knows about some issuc that 1o oftered to you govern- | $3.50 Philadelphia $3.25 Chester . $3.00 Wilmington AND BEDURN SUNDAYS, January 6 & 20 SPECIAL TRAIN Eastern Standa: Time Yv. Washiogtou (Te'en Statiop) 7.30 a. 3T, Wiliniogtow 10.05 a.me Chestor 1 a.m.. Fhiladelrb:ia, Broad trect, 10.50 2. urning, leyves Broad Strest. bllH p.m.. West Philadeiphis 7 v. ter 7 pm., Wilmisgtea 8:19 Ill Tickets on sale Friday preceding Escursios BarSiaj Ezcwrsions Sunder: Fele s T sy sad April 18 Pennsylvania RR. System The Stendard Railroad of the World The American Apostle of Thrift ODAY is National Thrift Day, the first day of National Thrift Week and the birthday of Benjamin Franklin, the On this day last year thousands of people in all parts of the country opened bank accounts. This year thousands of others will do likewise. Why not be one of them? Why not join the ranks of those who succeed? Today is tie day to act. Open a bank account now. Keep it up. Deposit regularly, and peace and prosperity will crown your efforts. A dollar in'bank is worth two in your pocketbook. It is ~working for you, earning interest, compounded semi-annually. It is an incentive to further accumulation. It enables you to grasp opportunity when it knocks. It estabhshes credit. It in- spires confidence in yourself. Thrift does not mean miserliness. It means wise spending and syst_ematic’ saving. Open-an account today in one of the banks. If you already have one, make a deposit today. - DISTRICT OF COLUMBIA LARGEST FAMILY MOVERS IN D.C. |- P QU STREET, N.. W. “"e}'m "NORTH 3843 N - BANKERS’ ASSOCIATION