Evening Star Newspaper, January 17, 1924, Page 29

A - THE EVENING STAR, FINANCIAL. Washington's OLDEST National Banl SOUTH WOULD GET Received by Private Wire Dirsct to The Star Ofice NEGRO LABOR BACK Industrial Leaders Predict World Cotton Shortage Before 1924 Crop. BY J. C. ROYLE. Eneeial Dispateh to The Star. NEW YORK, January 17.—Hope was 1eld out today to the planters and man- ufacturers of tha south that some method of checking the negro migra- tion might be worked out through the co-operation of industrial leaders in the vorth, Representatives of industry, commerce and finance from seventeen _ eastern and southeastern states, gath- cred at the meeting of the eastern di- vision of the Chamber of Commerce of the United States at Philadelphia, will and work out some solution of the problem. The sqathern representatives told the pathgring just what effect the desertion ©f the south by negroes had had on agriculture and industry. They pointed rat the world probably would face hortage of cotton before the 1924 «rop is gathered. Yet the south will 10t be able to plant and cultivate the zcfeage the situation demands, because ©f the absorption of negro labor in the vorth. Some of the northern manufacturers expressed themselves as unconvinced thmt the advent of the negroes in the noérth had supplied the need existing for additions to the ranks of labor 1nere. The qualificutions of European s:gmigrants for both sections also was ciscussed and it is hoped some defl- 1ije policy may be arrived at which ~fil bring additional benefits to both ecttions . 100,000 Move to Iliinois. ‘This possibility was heightened by reports that where layoffs had taken place in Penneylvania and other Torthern states, mills and factories, the negroes had been the first re- Joased and that in many cases they had not afterwards sought employ- ment, preferring to remain idle dur- $ng the cold weather or go south for the winter. Over 100,000 negroes Jiave moved to Iilinois’ in the last sear and many of these now are re- ¥orted to be idle In the St. Louis district, which has 2iso been the destination of thou- eands of negro workers, there is a drcrease in employment, but state yoad work and the continuation of bullding activity are expected to wliisorb practically all unskilted labor eurplus. The effect of the situation as it #tands today is clearly shown by the definite understanding between bank- ers and planters in southern Georgia ihat only so much acreage will be Janted to cotton as can be intensive- i\ cultivated with the negro labor at and. Plenty of Bullding Labor. The south now is exceedingly well evpplied with skilled artisans in the building trades. Many have gone as sat wouth as Florida for the winter, s the building activity in that ter- ritory will enable them to escape cold svéather and at the same time to earn tlucrative wages. The evident desire of manufactur- or to avoid 1y apparent, to reduce production has not relaxed. Any reason- plan for elimination of “fixed Is pretty sure of a hearing J. H._Tregoe, the National Assoclation of Credit Men, SUggests ihut cost can be cut by eliminating the necessity for so many bosses. Tn some lines of industry,” he sald, s have supervisors to Inspect cer- tain types of work and etill others to check” on the supervisors. If care- losaness were eliminated these over- 1ving costs could be eliminated.” Conl Strike May Ald Markets, The sttike of the Nova Scotla coal miners, which became effective today, comes at a time when the United Stutes coal markets are dull, when demand is limited because of a mild winter, when anthracite mines are upproaching capacity production and “vhen bituminous mines have huge ethcks on hand. The strike, ther fore, can have little effect in anle charges” market for American coal. c threatened strike of rallroad engineers ands firemen In England, scheduled for Sunday, may have a alich wider effect here. The disrup- railroad service would cer- »ds have fallen off in England to marked degree recently, due to la- bor unrest and unemployment. FIRST MORTGAGE NOTES For sale. Consult us If you have aveilable - funds for investment. THOS. E. JARRELL' Wember Washis Real Estate Board Woodward Bl Main 700 . Money to Loan Becurad by first deed of trust on real estate. Prevailing Interest and commission. Joseph I. Weller {23 We Buy and Sell ~ Liberty Bonds - - Treasury Notes Etc. . Bond Department The Washington Loan " and Trust Company 900 F Street 620 17th Street ‘| Make 1924 an ‘Investment Year © Select a security combining Safety Large Earnings Salability ':Purchue for monthly income Cities Service Preferred Now yielding.over 8% Circular on Request Main 6189 ' NEW YORK CURB MARKET NEW YORK, January 17.—Foll I«. an officiai iist_of bonds and '&!i‘l‘. traded in on the New York Curb Mar- ket today : Bales in & Allied 1 Allled 2 um 7s new '33. 2 Am Cot Ol 6r .. 11 Am Gas & Elec 64, 1 Am Suma b 1 Am Roliing Mils 1 Am Thre (o On. BONDS. Low. ¢ 2 6 Charcoal Co Am 8. 61 Chi & Northwt os wi P os Bod. 3 Fister Dody 0 2 Fisher Hody éa 4 Fisher Body 6s 1 Gair, Robt .. 8 Hood 5 Keunecatt Cop 64 Le VHRTG 1 Libby MeN & L T 1 Maracaibo 011 7s 8 Morrin & Co T 1 Park & Ti'ford hila Flee S4%g 58, Rewr fin nn ehater M1 Gl4a wi 101%; FOREIGN BONDS. 10 Govt Argent 0a % 5 Mox Govan Cn ... Ko 10 Rep of Paru e 18 Riian Gav 10 Ru 1 98 0y ETANDARD OIL ISRUES. 200 Anclo Am OMl 800 Atiantic Lohos 220 Ruckeye P L. 700 Continent OIf ne L 138, 4% 2000 Vacuum Ofl' new. Sales in INDEPENDENT OIL S8TOCKS. hundreds, 21 Bokton Wyo O} 21 Carib Brnd 1 Natl Fuel Gas 20 New Brad Oll w'i 140 New Mex Land N o1l nng n-Am P & T 1t el Canad 0 & B it Creek Cons .. “PRIDE :OF 12 Salt CR Prod. ..... § Sapuipe Refla - 1 Tidal Osage Of 71 Wicox ON & Gus.. INDUSTRIALS. m Cat Pabric ptd 0% h Dan Midland. . lyn Shoes Inc.... »s a0 B po o003 3'“’ 220000 2 Du Pont Mot 23 Glilette 8 R. 1 Gleancaite Prod 10 Glen Alden Coal . 3 Gold Dust Corp 88 Goodyear T 90 Diamondfid Bl 80 Eureka Croesus 40 Fortuna Mines £0 Gold Zone 240 Harduhell Mi 4 Holliager 1 Heela Mine 10 Indian “Mipes . 1 Jerome V ntar 4 10 Lorrain Conw Mines . 40 La Ttose Min 10 Mohican Cop 20 National Tin DIVIDENDS DECLARED. ! i Cast Iron Pipe and Great Western Raise Rates. NEW YORK, January 17.—Divi- dends on preferred stock of the United " States Cast Iron Pipe and Foundry Company were today placed on & 7 per cent annual basis, as compared with a previous § per cent basis, Quarterly dividends will he payable March 1B, June 16, Soptem- Dber 16 and December 15, from the 1923 earnings. | The directors of the Great West- | ern Sugar Company today declared | A quarterly dividend of $2 on_ the | common stock, placing the stock on | an 38 annual Basis, as compared with 8 $4 annual basis heretofore. | —_— The young Intellectyals Americans are afraid of yet offered enough to afiright us. Housekeeping —ia one of the country's biggest busi- nesses, yet in how few homes is it put upon a businessiike basis! {Tomorrow is BUDGET DAY in the Na- (TR TR U tional Thrift Week campaign, and it sug- [n i ] gests a revision of your domestic financ- LS IELIR | ing that will prove helptul if adopted and pursued. 1 2ay your housshold bills something re, ly for a account, e progen you fhs services of (A OLDEST Na- Organtsed in 1814 ional Bank in the District of ColumMa. " Our Savings Dept. Pays 3% Compound Interest National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000 15th St., Opposite U. S. Treasury—110 Years Old FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF S00 DOLLARS AND UPWARDS 1207 Connectioust Soanus Better Than Gold! If you owned simply gold you wouldn’t get the 6 and 7% interest that our First.Mortgage Notes yield. ' A real opportunity for investors of $100 or more. Your investment is secured by District of Columbia Real Estate, double the amount of the loan. Your interest paid promptly the day it is due. Consult Oar MORTGAGE INVESTMENT DEPARTMENT Shannon & Luchs 713 & 715 14th St. NW. Main 2345 who say || ideas haven't ANNOUNCING Ancther Factor of Safety PIERCE-ARROW FOUR-WHEEL SAFETY BRAKES Pierce-Arrow announces the perfection thirteen years by a prominent European auto- of four-wheel brakes which afford a new mobile manufacturer. g " mastery of control, a new standard of safety The announcement is made at the conclu- sion of four years of experimental develop- ment. During this period Pierce-Arrow engineers built, studied and tested every type of four-wheel brake mechanism. The type finally adopted is based upon a principle used with conspicuous success for Pierce-Arrow has taken this principle, developed it, and engineered the perfected design into the Pierce-Arrow car. Pierce-Arrow Four-Wheel Safety Brakes act on all four wheels equally at all times— on the straightaway or in turning. They add so much to the safety and enjoy-" ment of driving that any attempt to describe it would be utterly inadequate. Pierce-Arrow Four-Wheel Safety Brakes are offered as optional equipment at an additional charge PIERC . Foss-Hughes Company 114} Connecticut Ave. N.-W., Washington, D. C. 0 Telephone Franklin 4541. Baltimore, Md., 1313 Cathedral St. ITS MAKERS MAKES YOU PROU'D IN POSSESSION" 3. experienced salesmen of character, personality and ability wanted for local sales department of a progressive organization, offering the best proposition available today. This is an unusual opportunity for real security salesmen to make big money at once. See Mr. Davis, 824 14th St. N.W. SAFE—CARE-FREE—PROFITABLE OUR FIRST MORTGAGES —have a proven record of safety extending over a period of thirty-one years. EQUITABLE Co-Openfiv.e Building iation Ofgunized 1879 #ith YEAR COMPLETED Assets . Surplus Save If You Would Succeed Make r mind to foin the Equitsble and eave aystematically. Subscription for the 86th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presid FRANK P. REESIDE, See’, They are-care-free, because we take care of all details for investors free of expense. Over a Quarter of a Century Without a Loss. Profitable, because they yield the largest return con- sistent with absolute safety. B. F. SAUL CO. Main 2100 1412 Eye St. NNW. First Mortgage Notes HE investing public has been quick to recognize the investment opportunity in our 6% % FIRST MORTGAGES. The Notes are all first mortgage securities of the same type we have been selling for fifty-four years, and they bear our full recommendation as invest- ments of safety and merit. We suggest that investors participate in these Notes to the fullest extent possible, because it is difficult to predict just how long this higher rate of interest will prevail. We will gladly reserve your invest- ment unthil your funds are available Swartzell, Rheem & Hensey Co. 727 15th Street Northwest 54 Years Without Loss to an Investor WHY TAKE LESS THAN 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. ' Denominations: $100, $500, $1,000 and $5,000 Maturities: 2 years to 15 years ke F.H.SMITH COMPANY Founded 1873 : SMITH BUILDING 818 FIFTEENTH ST. Please send me circulars describing your offerings of §%% and 7% First Mortgage Coupon Bonds.