Evening Star Newspaper, February 28, 1924, Page 29

" with FINANCIAL. RAILROADS IN DRIVE FOR MORE FREIGHT Panama Canai Traffic Object “of Special Envy—Cut Down Idle Cars. BY WILLIAM F. HEFFERNAN NEW YORK, February 28.—Tod !curb market was one of the quietest |In many weeks and the generul price movement had little signific: Pool operations were suspended for the time being and traders who had been active recently were not dis- posed to come into the market on elther side. Ol stocks ~generally remained |where thoy were at the close Wed- nesday. One or two of the Standard Olls were bld up for a time, but the Improvement dld not get beyond NEW YORK, February tS.—The|& point or so bofore the rise was rallrouds of the country are preparing | checked. —Arkansas Natural Gas did e o Xind of compe- | better thun other independents’ and {moved up almost a point. tition throughout the remainder of | Despite all this, the muarket was the year, S : not entively void of feature, and not only from euch other| {il EIUTUR, Thluer of intereating but from other methods of transpor- | thefe Wwere ‘@ number of intercating tation. The steam and electric car- Tiers of the country still are under- | NEW YORK, ¥ :hruur) 5. dnuw& plicd with cars. Not only are the |k I8 an official list of bonds an supplied with car only e Stocks Craded 10 on ths New Towe carrlers buying more equipment, but; curh Narket today: sthey are doing thelr utmost to make ' P more efficient of that already in- stalled Inquirfes for cars with equipment manufucturers now total more than 13,000, with several additional thou- sand cars under consideration. Or- 2 00 and 30,000 cars were is year from 1923, s place the service this In spite of however, n were BY J. C. ROYLE. Special Disputel to The Ster. Sumat Tob Tl tolling Mill Anaconda % %0 8 m s AUGAWISS eth el carried ove and conservative estir number to be put into dear at well over 100.000. the heavy purchases in 192 ore cars were retired t built. Yet the ton-mile liags Of the country last year wis more tnan 340.- 00,006,000 and promises to be even greater this. yeur. Seasonal trafil 7 o Kugar 6 Rody 8 2! has already begun Hody 6 to look up, es is shown by late car- loadin and carriers are taking) 8teps further to se the amount carried in cach c: 1 to speed up the load nd unloading of their cquipmen moved 20 per cent | more miles in 1923 than the previous star, and railroad exceutives are bent on still turther improvement in this respect. Shippers in the Philadelphia district have already notice that the cafriers propose to withdraw the for- ty-eight-hour free usc of cars, whici Lias been the custom to allow "28. 1 Fiond Rubber ST, N Kenneoot? ¢op s and that time | toz Joad car, demurrage charges were imposed. Under the new rule, Yowever, it is proposed to make de- murrage begin with the delivery of the car. May Appeal to I C. The reason assigned for th is ‘that to obviate car sho perfods of peak loads It is nece o cut the time of loadinu ading to the most and ing up eq A58 Men Hr : v change Interstate be_called in 10 ac The progr tncreasing m: ment in repa the cific, which Bf freig! CaFs un average of day and holding a | fts cars and cugine dition each loce to haul & 3 per cent hea in former years, Canal Keen Competition. Increase in the amount of freight pussing through the Lanama canal is not beinz ov as a compet ident Byram kee and St Paul, imagine nothing greater ben. northwes| some of 2 Vacurm 04 T Virginia Re 6ix w i) o4 10 Webst Mills 8% wl. 1011 broposed vossible the | ¥ Us ofx dep. Peru Ss 15 alex 1z STANDARD OIL Cliese -nu[h Mtz Contl being made Cumberl vier load than | E L, :nble O & R new 10 fijinals 570 Imp O s factor Cie Chicag The tran ing that rates whi pete for Busin rers wre urk- | mitted to publish | ) Wil coable them to com- . Fran B 140 Svan & Fine © Vacoum Oil new INDEPEN] ling vigienuly nectal lues msking grant Pa rate for the shippers at i1 Midwestern manufacturers are urs ing reductious in ruil rates to the coust, arguing that unless they get| lower rail rates the, nnot compete | Atlantic nufacturers, | who can ship via Pana { Situation in Western Statew. ‘ in_points such as Denver. | . Salt lake. Boise, Butte und i Spokane do not object Lo the granting | of such lower rates provided these!’ {ntermediate points et a proportion- | Washington Stock Exchanae ate reduction Abbott. head of a big Utah ! wholesale hardware house, outlined SaTE h tude of this territory as fol- 32,000, 8¢9 We arc tired of having to do | 9% Business under the handieup of con nuously figating to prevent the' sent rate structure being torn! dofen to favor Pacific coast shippet This tight arises out of (he fact that Interstate Commerce Commission | ws discretionary power to allow ex- | ceptions to the general rule that r..u-‘ ull not charge less for a long | haul than for a short haul, FARM CONDITIONS STEADILY IMPROVE Kansas -City Reports Bettei' Crop Outlook Over Many Wheat R States. Lago Pet Latin Amer i 4 Mex Panuco . 2 Monat Prod 175 $1,000 at Washinzton Ges Light—5 at 491 American Securlty & Teust—10 at 303, 2t 1005, $100 Wastington Rwy. & Elee. com.—10°a 715, 10 at 717, 10 8t 717%, 10 at n.mm,‘mn Rwy. & Flec. 4--$5,500 at 72 Mogey—Call loags, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Bid. Asked. Amertcan Tel. & Teles. 4o Am & T et i { Ami. Tel. & Tal. conv. 6s, Anscastia & Potomac bs. Anacostia & Potomac guar. . & P. Telephone O & ¥V, Teiephone of Caplial Traction R. R. 3. { Gty & Suburta. 3 | Geargetown Gas 1 Metropolitan R. R. | Potomac Potomac Potomac Elec, deb. Potomac Eiec. 65 1003. Tot. Elec. Pow. g m. & ref. b, Alex. & Mt. Ver. Special Dispateh to The Star. | KANSAS CITY, February 28.—Farm conditions in the gouthwest are look- ing up, according to an exhaustive survey by the Sunta Fe railroad, in which 1,500 farmers, bankers and business mem were questioned. Reports regarding crops are more | encouraging than those of a yo'\r‘ ago.” a statement from railroad offi- | cialy says. “This furnishes basis for :D. the bellef the year will be a very ! Riggw I z00d one. Indications are that whear | RIEEY I in Kansas. Oklahoma. the Texas pan- | \ardaen Park Hotel o6 handle, eastern New Mexico, the | STOCKS. s\rkansas Valley of Colorado, Nebras- | . ica and other sections, which special- PUBLIC CTILITY. ize In this crop, came thro Winter in xood congitions CE" tR® ! Americen Tal. & Telps.. Preparations are being made for a ' wage conference here late in March botween miners and operators of the southwestern coal fields. Indications are present contracts wiil be renewed. Eati ol Are You a Sueker? Too many people put thelr money in day dreams and wake up broke. | Never put your name on the dotted | line until you have inquired of some one in your bank what he knows about =ome sfock issue that is of-| TRUST COMPANY. fered to Fou Jvnvnely. { Amesiean Security & Trust. BARGE TRAFFIC ASS ASSURED. Ford to Help Boom Business nnm-m. nt: 1 Mississippi River. oo Special Dispatch to The Star. ST. PAUL, February 28 —Twin Cities' business men have given as- surance that full cargoes will be! Security Savings & Cor. available for all frelght boats operat- | seventii Street. ed on the upper Missiasippi this sea- | United States. son which opens March 15. Rates | Washington Mechanic are announced as 80 per cent of all rail tariffs, including marine insur- ance, drayage and switching charges between boat landings and rall con- nections. Henry Ford has announce ed he will operate light draft barges and tow boats designed by his en- gineers. PARIS MARKET UNSETTLED. . PARIS, February 28.—Prices were unsettled on the bourse today. Three per cent rentes, 56 francs 60 centimes. Exchange on London, 104 francs 50 C.I[llfll! Five per cent loan, 70 cs 40 centimes. The dollar was woud at 24 francs 25 centlmes, lw% 08 llfl‘& %-é = w,. 125 Capital Columbia. Commerel District Lincolu . National Metropolitas. nd Nat. Bauk of Commerce @& Savings. Fast Washington. . American Corcoran Firemen’ Natfooal _ . TITLE INSURANCE. Columbia Title... Real Estate, Title. MISCELLANEOUS. D. C. Paper ptd. = Merchants' Transfer & Storage. 100 Mergenthaler Linotype... 154 0ld Dutch Market com. 1ig 01d Dutch Market pfd. Lanston Mo NEW YORK CURB MARKET Recelved by Private Wire Direct to The Star Office —_— \ | THE EVENING STAR, WASHINGTON, D. AUTO PLANTS LIKE WAR-BOOM TIMES Spring Rush Causing Extra Shifts in Many Leading Factories. continued strength above 30 in Silica Gel voting trust certificates. The rise during the past week or 8o here has been coincident with the advance in Devison Chemical on the stock ex- change. It is believed the same peo- prle are back of the move in both stocks. Motor ‘shares did little, Durant of Delaware selling Jjust below the Wednesday final. Considerable at- tention was directed to the failure of the Durant company to submit to the governors of the curb n financial statement, which s 'required under ! the rules. It was pointed out that, this belng the case, the governing authorities had the power If they chose o exercise it, to remove. the stock from trading. The suspension of trading in Haw- thorne Mines which went into effect January 21 was revoked today and the stock reinstated. Trading started at 49 cents, with a small ad- vance later. Special Dispateh to 1 ' DETROIT, Febraury 28.—The up- pearance of two and three working shifts at some of the automobile fac- tories hus begun to give this section the appearance of war-boom daye. The Olds plant, at Lansing, has start- ed & two-shift schedule in its motor ! plaat, ssembly plant, sheet metal plant’ and pressroom. Each xhl(t' works ninc hours. This has been 1 i mids necessary by the advancement | of production schedules to a 400-car- A-day b 5. Unus (for automobile {stamping e LR othe: leading Lansing. {AUTOMOBILE OUTPUT 12 PER CENT LARGER NEW YORK, F motive Industries from automobi for the first part an_ ine: in Mutusl 0il vot ofs 8 New Tait O w | .X and ssitated working hours stumping plants otier the aty st I 1 Cunad 0 & R tCk Cone tCk Prod | sy productng f Februa ations o Am Huwaiion § ». Reports ; Am k& Tract ! centers Prod Cpn wi luloid o ¢ ntage of in- TOETIINS tinue 3 fup In plants t have not reached , =, and conditions point to the | ility that all major manufac- | will be runuing at top speed | fter Mareh 1. Smaller plants are m-.nng along at a Ligh level” WAGE CUT ANNOUNCED ( Havuua Pleoss 3 S | i i pred | 24 Dubdlier € & A Dunhlll Tnti 1 Dirant Mot Durant Mot 3 Haxden Chem. ... Radiator Workers tnGet 01d Scale: Hndson Co_ pf. 1 Again on June 2. apateh to Th 7 . February 25— ploves of the Ceiitral Radiator ¢ Dany have been notified that a tempo. | rary 10 per cent wage cut will become | effective March 3. General Manager Howard 1. Quay sald today the re- juction had been made necessary be- | ciuse Of the cut in the selling price | of the product of the company. . Old | ! JeperdiCam will b ! 13 Sai GILCo W vte wi 2 H or MIG . R R 12 el Prominent Real Estate Firm Wants A Young Man Between 20 and 30 Years Old —to specialize in the sale of first trust (mortgage) notes. Must be weil educated and of good appearance—excel- lent opportunity for a young man who really wants to work. Prefer one who is now em- ployed dn a bond office, bank or real estate ofiice. Address Box 243-K Star Office We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street Star. & Lib new. Cual Co, Tariiard 1. ¢ "Tele o ptd. & 5 Am Ecploration 10 B! 0ak Gold Min Lifield * Developt fardehell Min Tardmill Div e T I PRI P AR P O Y 30 Indepe, i 1 Jerome V Dev 10 J1h Cons ) Nutfunal Tin .. w Dominion Cop. B Nipusing Wilo Coppe 20 Piymouth Lead Min . 9 Premler Goid Min, 120 Red Warri 10 Spearhead 101 Teck Hughes 50 Tri Bullion 10 United Eastern 5 United Verde Ext 12 Unitr Gold . 20 Wetory Div Sin. 7 Wenden Copper . 16 Weet Dtah oo 115 OIL COMPANIES | NAMED IN SUIT. Nebraska Attorney General Charges Gasoline Price Fixing in His Complaint. By the Assoclated Press. OMAHA, Neb. February —Sunl Iwas filed In district court today by. {Attorney General 0. S. Spillman of | {Nebraska against fiftcen oil and re- fining companies doing basiness here, asking that some of them be ousted from the state and that others be dissolved and placed in the hands of trustees. He alleges a combination exists to fix the price of gasoline and other petroleum products. The Attorney General charges re- istraint of trade. The companies would oust are foreign corporations, the Standard Oil Company of Indlana, the Sinclair Refining Company, the * INational Refining Company, the Man- hattan OJl Company, the Shaffer Ofl and Refining _Company, the Tex Company, the Tidal Refining Company and the Texaco Company. | MEETING .LACKS QUORUM. Virginta-Carolina IN DENOMIN Directors djourn. NEW YORK, February 28.—A meét- ing of-the board 6t directors of the [ Virginia-Carolina Chemical Company. called for today, was adjourned for lack of a quorum; subject to call. It was announced that no statement rag.mum; the company's - affairs would be jssued today. Later, however, it was learned from official sources.that the com- pany had 36,000,000 cash in banks and that it did not contemplate relin- quishing its_interest in' the cotton- seed oil busincss. It also was reported that there had been a recent considerable. increase in bustness. 'MORE GOLD ARRIVES. Olympic Brings. Largest Shipment in Lorz Time. NEW YORK, February shipments totaling $5,700,000—the largest for some time—reached Wall street with the arrival of the Olym- fc. - J. P. Morgan & Co. received 2,400,000 from the British govern- ment to apply on the interest on the war debt te the Unifed States. A consignment of $3,300,000 to Kuhn, Loeb & Co. represented gold pur- chased in the open market in London. The efféct of annual sales upon the volumé of business s shown in fig- ures which have been prepared by the Federal Reserve Bank of New York. January sales of clothing in this district accounted. for an in. irease of 9 peg cent in the month's business over a year ago. LT An attempt is being made in Eng- land to have the voting age of wom- .jen made twenty-one tnstead of tth}' Ayears, Are 62 | | | and by-product end of the| ANY of our client: M vest as fast as you save. Our First Mortgage o0 ha And they have endu {and industries for an | cotton mills of i River practically year before the v owing to i tory conditions w vy demand, ihey term discriminatory —Auto- { == ¢, THURSDAY, FEBRUARY 98, 1924. LABOR PROBE URGED | REA FAVORS N. & W. LEASE BY BAY STATE MAN Textile and Shoe Depression Bring Out Startling Figures on Values. 8pecial Dispatch to The Star. BOSTON, February 28.—Charle: McGlue of Lenn, a stute politi . leader, is raaking u strong appeal to the legislative committee on labor investigation of the textile, shoe and paper indus- tries of this state. Ie asserts the cw Bedford and Fall are that in Lynn the value of manufac- tures has declined from $30,000,000 ir to ot departur sboe facturers to other cente manufacturers declure they Viously pointed out th Juld manu- Textile esul were passed affecting thieir industr) PUT OFF STOCK EXCHANGE W YORK, February 28.—The ex- ! pulsiou of John Farson of the firm of | was _announced the New Money to Loan lfl'u’—-d he firat Acedl of trust on real TN ot s o ata Joseph L Weller §3V%5 & 3 4% Blnlung Trust & Mortgage Co.! want good First and Second In Washington and Vicinity— onable Terms—Prompt Investiga- Sone"Cait or wrte. .,. i Banking Trust & Mortgage Co.’ Rooms 20-21 1410 G St. N.W. Phone Franklin 6794 Secured Savings— That’s the Kind You Get Here— When You Deposit Your Money On Account of A First Mortgage Note— The Interest Rate Is 6% or 7% From Date of Each Payment— Notes Issued $100 to $1,000— | companies, but to the te shut dowh and $31,000,000, ' Property Worth Double Each Loan— Never a Loss For an Investor— Mortgage Investment Dept. SHANNON & LUCHY) 713 and 715 14th Street Main 2345 i FIRST MORTGAGE NOTES | FOR SALE ATIONS OF '‘S00 DOLLARS AND UPWARDS 1207 Connsotiout Soenas Build An Income With Our %o First Mortgage Notes s put aside $100 every time their savings amount to that much, and their interest starts immediately. The real way to build a fortune or income is to in- Notes are in denomina- tions of $100 and upward. red fifty-four years of national and international change and upheaval without loss to an investor, ‘Swartzell, Rheem & Hensey Co. 727 15th Street N.W. 54 Years Without Loss to an Investor FINANCIAL. NEW YORK EGG PRICES. W YORK, February 25 —Eggs— | Irr gular; receipts, 20 fresh | gathered extra firsts, firsts, | Cuses; Pennsylvania Railroad Head Calls Roads “Intertwined.” PHILADELPHIA, February Sumuel Rew, president of the Pennsy vanla raflroad, sald yesterday the had been no change in the Pennsyl wanta-Norfolk and Western rail lease situation from that expr in his testimony before the Int Commerce Commission last’ Ma that time he pointed out that inter of both companies were so intertwi ed and their mutual prosperity so in- | Cay R Multiply Your Chances to the interest of —of getting ahead by getting a Ertle cash in bank. That's the secret of success—being ready for your opportumity— and the best preparation is ready money. I Some 42000 people are making financial headway through the help of this strong old bank. Why not join them THIS PAY DAY? do, £9.— selected ext and nearby we . firsts Lo extras, hennery hrown nne near: “..ufl. 412 Eye St. NW. Muin 2100 vital and Surplus, £2,000.000.00 by them, provided satisfactory could be reached. Announcement The services of competent, ex- perienced accountants may be obtained for bookkeeping, ac- counting and auditing work by calling Main 530 A high-grade professional ac- counting service under direc supervision of & Certified Public Accountant EQUITABLE Co-Operative Building Association Orgnnized 1878 44th YEAR COMPLETED Assets . - 170,52 Surplus <o vee 01,248,320.09 Accomplishes Most Systematie eftective meas money. Joint the Equitable and with bent results. Subscription for the 86th lssue of Stock Slmes, §2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Prestiemt FRANK P. REESIDE, Sevy, Deposits Invited in Any Amount; Same Rate of Interest Paid on Small and Large Accounts Open Until 5:30 P.M. Tomorrow anil Monday BIRECHORS: Witism D. Hoever Reginald & Huidekoper Victor Ka Charles Minshal r. Edmund T8 Rheem OFFICERS: WILLIAM D, HOOVER... WOODBURY BLAIR.... FRANK W. ST .. Tresident 15 V. Pres 24 V. Dres. Trust Oficer DAVID BUE Henry Ko Willard Open Until 5:30 P.M. Tomorrow and Monday Over a Century of Service to the Public Due heed to safety and stability should be given when’ selecting your bank. In \\huh connection it is inter- esting to point to this historic institu- tion, to whose credit stands over a century of service to the public. 1 Permanency means strength, excel- lence of management, \\ladom of pol- icy — things proverbially associated with the Oldest National Bank in the District of Columbia. Orgenized in 1814 OFFICERS: GEORGE W. WHITE. 0. H, P. JOHNSON C. ¥, JACGBSEN CHAS. E. BRIGHT. ALBERT M, BEDFORD ©. LOUIS ECKLOFF.. 3. GALES MOORE S DIRECTORS: ARTHUR T. BRICE J_H. RALSTON WALTER BROWNLEY FRANK P. REESIDE FREDERICK DeC. FAUST HUGH REILLY WM. F. GUDE E, TRANCIS RIGOS CHARLES TACOBSEN s H. P. JOHNSON SUBOLEH RAUFEMANN Dr. J. THOS. KELLEY, Jr. HENRY LEONARD A, LISKER TOWNLEY A. McKEE C. F. R. 0GILBY Nationa Mettmp@ itan Bank Natlonal Savmgs & Trust Co. Capital, Surplus and Undivided Profits, Over $1,700,000.00 Oldest Savings Depository in Washington % E E E g = = = E - = 15th St. Opposite U. S. Treasury—110 Years Old Cor. 15th and New York Ave. O |HIIIIII||IIII!IllIIHIllll|Illlllllllllllllmlllllll]flllllllllfllflllll'M 6%% «d T% .. President Vice Presid Trust Oficer .. Cashicr t. Cashier Cashier Cashier AKuidror e Ass Bsst! or more will begin an account in and THIS PAYDAY is the We pay you— One Do Our Savings Dept. : ight time to become a depositor. Compound Interest Completely equipped Truse Depe. HN w. A GEORGE W, WIMSATT WHITE First Mortgage Coupon Bonds E offer a diversified list of 6149, and 7%, First Mortgage Coupon Bonds, se- cured by improved, income-producing prop- erties in Washington, D. C. These bonds are sold in any amount, in de- nominations of $100, $500, $1,000 and $5,000, and in any maturity from two years to fifteen years. On 6149, issues Federal, State and D. C. tax- free features bring the gross yield to 7.13%. Call, write or telephone Main 6464 now for descrip- tive circulars. NO LOSS TO ANY INVESTOR IN 51 YEARS Jhe F SMITH BUILDING F.H.SMITH COMPANY Founded 1873