Evening Star Newspaper, March 4, 1924, Page 23

1 s FINANCIAEL. STREET RALWAYS PASSNGCRSS More Passengers Than Ever Riding in Spite of Autos. Securities Improve. By J. C. ROYLE. a1 Dispatch to The Ktar, NEW YORK, March 4.—The electric railwa indus is over the crisis of its fllness and now is'on the mend, B. C. Cobb, vice president of the Hoden, Pyl, Hardy CoMpany of New York, who s recgrded as an expert in pablic utisties se-urities, told Street ralf6ad men today in St Louis. #Naturally progress has not beew %o rapid as that made by power wnd light companies,” he continued, “but the latter were not so hard hit by unfavorable conditions. “I do not fean to say that every individual company's troubles are over, hut electric rallway securitles are now beginning to attract atten- elon, and many investors heretofore not receptive are looking them up. Proof of this is shown by some of the Successful electric railway finanelng recently in San Francisco, Baltim Boston, Philadelphia and.St. Loul: Henvy Outlays Reported. Mr. Cobb aded that $282,000,000 had been expended last vear tor main- tenance, extensions, new equipment and improvements, and that simiiar expenditures totaling $262,000,000 al Teady were on the program for this year. ““The electric raflronds carried nearly 16,000,000,000 passengers in 1923, more than in any year since the in- dustry was born,” he said. “It is sig- nificant that this record was made in a vear in which automoblile produc- tion reached its highest point so far, for it proved conclusively the eco- nomic need of the service rendered. One thing we have learned and the public, too. That is that the street raflway industry cannot now be run upon a fixed rate of fare. The fare must change as conditionse change, in order that the company and the public may serve and be served. Leas Worry Over Automoh! “Is the trend toward -increased traffic and increased net earnings go- ing’to be permanent? I grant that the automobile has diverted a lot of passenger business, bt it is my pre- diction that the heaviest effects of this form of competition have been seen. There seems to be no satura- tion point so far as ownership of cars 19 concerned, but there is fast devel- oping a saturation point of another character—namely, Toad saturation. “As a result, there is a growing tendency on theé part of automobilists again to patronize electric rallways, especially that large class of car owners whose occupations do mnot make it necessary for them to use motor cars in the transaction of their | It takes time for the ! daily business. habits of the public to change, bgt & change in its riding habits is going on_right now. People who formerly rode in the clectric railway and later on forsook it are now coming back. Busses Can't Replace Electrics, “The motor bus supplies a very definite need, but busses can never handle the volume of traffic the clec- tric railways are moving daily. Ex- Jerience has demonstraied that the bus is of more value in supplementing electric railway service than in su- perceding it. A check made in Grand Raplds, Mich., showed that passing street cars occupleu 23 per cent of the street space devoted to vehicles and the automobiles 77 per cent, while the automobiles carried only about one- half as many people as the street cars. Figured another way, this means the automoblles took seven times as much street space per pas- senger as did the street cars, The various factors mentioned are some of the reasons why the outlook for the electric rallway industry Beems more encouraging than for se eral years. A credit basis is fast be- coming established which will enable electric railway companies to more readily flnance necessary extensions and improvements.” "NEW Received by Private Wire BY WILLIAM §F. HEFFERNAN. NEW YORK, March 4.—O1] shares attracted most of the attention in the curb market today. For a time they Were under considerable pressure, but tn the late afternoon recovery sct In. Vacuum Ol dropped below 63, where it was off nearly 2 points. Standard Ofl of indlana fluctuated within a range of half a point, just within 61. Humble Of] was off near- THE Direct to The Star Office ly a point and Magnolla Petroleum 2 points. Prairle Ofl was strong for a time, but eubsequently lost its gain. South Penn moved against the gen- eral drift and was in some demand around 168. There was heavy trading in the Argentine 6s just under 8. Russian 6%s were off a half point at 16. Con- solidated Textlle §s dropped below 88, ‘There were large transactions in the Radlo Corporation stocks and a 11 advance in Dubllier. —_— NEW_ YORK, March 4.—Following is an official list of bonds and stocks traded in on the Ne Market today: i Con Gax T Cans_Textile Ioere & Co 7 Detroft” Clty Gy Tietroit Fdinon D Tire & i Foaher lody fis inher Tlods Ga 25 en Aephalt S Tiood Rubber ICARCRILEN Intl datch 6%x wi Kenneott Cop Tn. Te Va IU Ry ow wi' 96 Lib MeN &L Tx.. 1008 Market 8t Ry Co T 003 Mortix & Co Th... 100 ew Or Pub Rer ix 84 orth Bt Tow 6, ark & Tilford 6s.. Hal & W 3s B Pub Ser of N J 7 Pure 011 Co 6ts. Sloss-Sheft 6 Solv. y Buwsnan-iion-tesstosnun ® CwmTaknamaT e TR | UP POy Un B Lt & P 83u & Unlt Ofl Prod 8a.. Tnit Ry Hav Ti Vacuum Vireinia T Webst Mills %5 wi 101% FOREIGN BONDN, @ Gov Argent 6x 5T wi Kgdm Netherlands s 5 Mex Gov 8s cf dep. Ruxx Ruxx Runn ! units. 100 Angio-Am_01l 20 Tlorne Nerrmser 'L 213 50 Chenbrongh Mfe | 400 A i i 20 10 e kg e 41y 1073 19% 125 Magnolia Pet 1531 Y Transit 80 500 Olio Ol new. 860 Prairie 0 & 895 Prairie P L 140 South Pen Ofi. § 0 Ind 200 8 0 _Kans new 90 8 O Kentucky [ (R in bundredn. 10 Ark 3y Citles Service * 1 Cities Bervice p 2 (it Xery pfd 1t $1,000 Cit Rerv serip 4 Creole Send . 10 Eugiucers Py G Gen Pet . 10 Glew Kock Ol 1 Granuda O . B Gulf Ul of Pa ... 3 11 Gulf 8t O/l & 1wl 20 Hudson O K 5 Lago Pet ... 1 Latin Amer O 2 Livingst 4 Mailand E 2 a7 PRl P ] ) 1 at g 1 Omér ‘Ot and Gas. 1 Peer Ol Corp . er O Okla 4 o 8¢ :I% it 1 1 12 % % 1% % 218! WEaid GOODS ARE MADE CHEAPER IN SOUTH Washington Stock Exchange. BALES. Capital Traction Co.—10 at 83%, 6 at 85%. 23 Wileoz 0f 10 “Y" on 1 & Gan.. s e INDURTRIALS. 12 Acme Conl new ... 215 wi Centrifug Iron Pipe Checker Cab Mfd A Chie Nip new Cleveland Auto Colo Pow & Lt mmonwlth FPow. ‘oh Co 3 4 .o rene e il e » i & Sann R il Cone Tnd Cor Mot Car €a reuge Drpt Stoies ke Tor i 10 21 3 'ark & Tilford. Radio Corp . Radio Corp pid. . w0 Mot Paviewi 1 new whacen Prod B "nit Pft. Nhar ne 14 Warue B Alamo N 0 Arizone Glubs Cop . 10 Bi told Mine 20 Butte & Wi « 1 Calave ‘op 9 Penna 3ine % 10 Rted Iill Fiorence, .03 20 Bed Warrior ... 18 Weesen Conp i Weaden. Cop 10 West l'llh“.* WALL STREET NOTES. 1% | Liberty Bonds Sensitive to News in | ‘Washington. NEW YORK, March 4.—No gection of the decurity markets has been more sensitive to legislative dcvelopments jat Washington tnan the liberty. bond list, which has been quick to reflect | cach turn in the tax situation as well a apprehension over the I'passage of a bonus measure. Although prices stiffened on the re- Jection-of the 25 per cent surtax, the latest trend has been downward, due to prospects of new Tressury flnances and the growing commercial demands for money. Lima Locomotive Works, Inc., ports 1923 net income of $2,402.605, % |26 Broad ‘street, possible | against $175446 in 1922. Compared 4 at 9345, " with a deflcit of $144,750 in 1922 AFTER CALL. Capital Traction 53—$300 at 96! Washington Gas Gs—$1.000" at ‘h*, $1,000 at B4 ington Gas Light—3 at 50. Washington Rwy, & Elec. com.—10 at 71%, 10 at 718, 30 at 71K, American Security and Trvst Co.—10 at 303, 10 at 303, 10 at 302%. i Capifal Traction 55—$300 at 86T Money—Call loans—3 and 8 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. 8. . Massachusetts Textile Men Sur- prised by Difference of 13 Cents Per Pound. 4 Bpecial Dispatch to The Sta BOSTON, March 4.—Pubiication of a previously suppressed report by the state department of labor and industries on the textile situation, showing that certain grades of cotton goods can be produced 13 cents a pound more cheaply in the south has aroused considerable | American Tel. & Telga. 42 comment here. The report showed that | American Tel & Telga. 4%:. ‘where average wages per hour in Maasa- | Am- Tel. & Je. OO tr 0 chusetts are 41 cents an hour, in Vir- | A0 J0L € R00 MU g‘nln they average 323, North Carolina | Anacostia & Potomac guar. bs.. 932, Georgia 24, South Carolina 23 and { C. & P. Telephone bs Alabama 21. Telephone of Traction R. R. City & Suburban 3 Georgetown Gus 1 etropolitan K. R. tomae Eicc. qat 5u Asked. —— Potomac BIG VARIETY IN FABRICS. American Woolen Openings Give | Fotomu Potom Indication.of Styles. 1 Tot, Pot. El Wash. Bpec Dispatch to The Star. ¥ NEW YORK, March 4—Nothing could better Indicate the vogue that suits probably will have this spring than the wonderful varlety of fab- MISCELLANEOUS. rics provided by the greatest Amer-!p c. paper Mfg. Oa. jcan woolen producer for the &pring | Rizgs Realty o (long). garment trade. Over 250 . different | Kiges Realty Do (short)... Kkinds of fabrics have been placed at | Wash. Market Cold Storug the disposal of the tallors and dress- | Wardman Park Hotel s, makers, and the official shades for suits and dresses embrace seventeen STOCKS. PUBLIC UTILITY. new tints. ik The names by which these are known | .\ . 1y & Tl n. sound like a string of Pullman cars. Among them are Messidore, Forban, | {2 Carnovain and Pharoan. However, | Norfolk & Wash, Steamboai the tints in plain language range [ Wash. Rwy. & Elec, com from light tan to electric green,; Wash. Rwy & Elec. pfd. rosewood brown, Egyptian red and |Terminal Taxicom.. mistard. NATIONAL BANK. e i e o | Commerciai BIG EARNINGS REPORTED bt Corn’ Products Has $10,471,559 | Fritnismeri Net—Savage Arms Makes Profit. |Lincola 5 National Metropelitan. NEW YORK, March 4—Corn Prod- ucts Refining Company earned net in- come of $10,471,559, against $10,416,- 572 the year before, and wrote off $16,000,000 good Will; which fs in line with the policy of "conservativism adopted’ by E. T. Bedford, president. Last year $20,000,000 was written off. United Light and Raflways, in a preliminary report, showed net In- come of $2,190,531 after charges and taxes, but before depreciation, com- pared with $1,919,304 in 1922, ( Savage Arms reported a profit: of $404,04% after depreciation and taxes, | \ashiogton M against & deficit of $168,165 the year before. Tec. deb. Us. c Elec, 64 1038 ec. Washington Gas' S Washington Gay 6s. ashinton Rwy. & Elec. 4. % Capital . Tolumbia’ TRUST COMPANY. Sac. & Trust. American 8 S Mefehants' Benl National Baviogs Tnion Trust. 310 90 I T 410 —_— FERTILIZER SALES SLOW. Bpeelal Dispatch to The Star. TLANTA, March' 4.—Reorganiza- n o the Virgini-Caroling. Chemi- cal Company is not'expected to affect business in the cities in which ‘its plants are located, as the receivership had been discounted. The fertilizer movement has been slow, due largely to an unusually late spring. Carriers Wwre urging trade interests to star fertlisers moving, fearing a conges: sion. of rolling stock laters - [ D. C. Paper ptd. Merchants’ Transte Mergenthaler Linotype. 01d Dutch Market com. 01d Dutch Market pfd... Lemston Monotrpe. Becurity Storag Ma Washing| () ).- a similar auction last fall. company reported a surplus of $1. 709 for 1923, After preferred dividends net income was equal to $11.23 a share on the par. common sfock com. pared with 25 cents the previous yvea Directors of the Century..Ribbon Mill today declared an inittal divi- dend of 50 cents a share on the com- mon stock. Dividends of 1% per cent on the preferred stock were (naugu- rated last March. .t TODAY’S COTTON PRICES. Market Opens Barely Steady, But Improves Later. NEW YORK, March 4.—The cotton market opened barely “steady today at a decline of 20 to 32 points on the old crop months on overnight selling orders. Liverpool advices were more encouraging, however, while there Wwere private reports of rains delay- ing farm work In some sections of the southwest, and new crop months opened 6 points lower to 3 points higher, with the general list show- ing rallies shortly after the call on covering. HIRE 25,000 EXTRA MEN. Northwestern Railroads Start Huge Improvement Programs. Spectal Dispateh to The Star. ST. PAUL, March 4.—Ralloads of the northwest have just begun their 1924 malintenance and Improvement rograms involving expenditures of 100,000,000 and employment of 25,000 extra men. Full forces are scheduled to be employed by the end of April. Five roads. centering in the Twin cities plan to make capital expendi- tures of approximately $35,000,000 for the purchase of new equipment and mufmm. of old. - Employment con- ditions throughout the northwest are re] ed - excellén ‘Wholesale busi- ness has shown marked improvement within the last week. * H i CARPETS AND RUGS OFF. 1 NEW YORK, March 4.—~An auction isale of 90,000 bales of .carpets and ir\ln began here yesterday:. and will { continue throughout the week. Prices bid on the first day were about 10 per cent down from the prices bid at 1l Balances ,of lots were picked up quickly by : large Chicago operators. Cotton goods were much unsettled by an_erratic cotton market early in the day.. _ by ‘were numerous, but individu: Pw easler. Raw stlk . was un- { changed. - Linens held firm in first hands. Burlaps were little changed. ‘Wool goods continued tg seil in mo: erate lots. GARMENT BUSINESS DRAGS. NEW YORK, March.4.—~Spring bus ness In the garment and textile trades 'has Aot come up to expectations, ac- cording to Holmes & Davis, account- ants to a large number of firms in the apparel trade. The slackening in de- mand, in spite of the bellef that the deterring influence of a présidential year has been discounted, according to Morton: L. Davis of the firm, resulted from the recent upheaval ‘Washington and the delay in tax leg- {slation, causing the retallers to buy in extremely: small q: EVENING STAR, WASHINGTON, D. ©, ; YORK CURB MARKET ANERGAN WOOLE PROFS 56121 Increase of 8400.000 Dur- ing Past Year—Output Ex- ceeded Only in War Times. By the Amsociated Press. NEW YORK, March 4.—An increase of more than $400,000 in net profits to $6,660,212 In 1923 was reported to- day by the American Woolen Com- pany, which announced that the year had brought the largest peace-time production on record, a volume ex- ceeded In only two war years. A speclal reserve of $5,500,000, sufficient t0 cover a year's dividends, was set aslde out of the 1923 earnings. “Profit from the year's heavy turn- over was sufficlent to care for all dividend requirements and to provide Jor further resérve against the con- tingencies that time have proved con tinually recur in the textile Industry, Willlam M. Wood, president of the company, renorted to stockholders. In this connection he asserted that duction wae not translated into Dprofits in the same manner as In in- dustries which have close control of their raw materla “The wool situation last year was one of the most unusual we have ex- nced,” Mr. Wood said. Wool taxes udvanced consistently until April, when the turn set in, due to apprehension over the stability of the then prevailing price levels. But meantime ‘wool consumption re- mained at such a high rate that by October supplies had become quite scarce and a rebound in prics took pla Iy the cloe of the year most grades were back to or above their April level, a fact that has made nd continues to make for heav working capital requirgments.” ‘The current year's Drospects are good, Mr. Wood asserted, and the Y, has tnken Pr utiona in anticipating requir view of cousistent with safety, in | the present wool prices. INJUNCTION HALTS FIRM'S STOCK SALES Attorney General Believes He Has Closed One of Biggest “Bucket Shops” in New York. Ny the Assoc Pross] ALBANY, N. Y. March 4.—An in- {function has been issued by Supreme Court Justice Charles L. Guy against the G. F. Redmond Company, Inc., of New York, dealers |in stocks and securttics, it was an- Inounced Iast nizht by Attorney eral Carl Sherman. 1In an inv tion into the firm's resources, dueted by Deputy Attorney General !Wibur W. Chambers, It was dis- iclosed that the compang had sold over $12.000,000 worth of securities in New York and other siates. In a statement Attorney General Sherman declared he belleved this to be one of the largest “bucket shops” closed under the state “blue sky” law. The principul method employed in the sale of securities. the statement explained, was through the partial payment plan, so that small investors might be attracted and their money placed In securities of a “question- able and highly speculstive charac- ter” when it was found that the company’s clients had bought sound stocks they were persuaded, the statement sald, to transfer their money to the Redmond securities. This firm is not to be confused, the attorney general pointed out with another company of the same na Which Is listed on the New York Stock Exchange. iBILL DIVIDES SPALDING i Delegate Hess Introduces Measure Designating Two Polling Places in County. Spectal Dispatch to The Btar. ANNAPOLIS, Md., March 4.—A bill dividing the Spalding -election dls- itrict of Prince Georges county into two precincts and Gesignating polling laces was introduced in the house Just might by George J. Hess of that county. The present district fs d vided by a line beginning at the in- tersection of the Suitland road and the District of Columbia boundary and running south to Suitland, and thenoe along Mayhew road to where it in- tersects the Hne dividing the election district 9 from the Spalding district. All the property ~ within ~one-half mile on the- north side of Sultland road from the District line to the vil- lage of Suitland and all aoutting on the north side of the hew road trom the village of Sutland to the line dividing election district 7 from clection district 16, together with all property in the territory south of the road in the Spdlding district, shall be known as precinct 2. All the prop- erty In territory north of the Suit- land-Mayhew road with the excep- tion of the property included in pre- cinct 2 shall be known as precinct 1. The holding place for precinct 1 is placed in Forestville, and for 2 at Stlver HIIL The bill of Delegate George L. Ed- monds of Montgomery county pro viding a_general zoning law for the town of Takoma Park was favorably reported to the house and advanced to its third reading for final passage. AT IR, . STEEL BUYING HEAVY. Railroad and Automobile Firms Keep Plants Busy. Special Dilpatch to The Star. PITTSBURGH, March 4.—Most of the steel mills in the Pittsburgh district are operating at or near® capacity, - with prospects for continuance of this sced- ule indefinitely. Mills report railroad buying of large volume, and automoblle manufacturers also are actively in the market_for steel. Orders for tubular goods have Increased, and pipe is In better demand. p Wholesale dry goods: trade in Pitts: burgh is estimated at about 12% per cent below normal. Retall trade in men's clothinig and footwear has shown some improvement. Bullding material is moving, freely and hardware is in good demand, with prices firm. SEES COTTON FAMINE. Farm Bureau Official ~Declares Farmer ‘Is_Overlooked. MONTGOMERY, Ala, March 4.— The present cotton situation is “en- tirely beyond economic law and: con- trolled by those who.are opposed to the best -interests of fa; 1 the opinion of Edward A, dent of the Alabama . Farm Federation, speaking here at a mo | ing of farm bureau official en states. . Mr. O'Neal added that the country. is facing & cottén famine, with ' thi he stapje declining. “It ing must be dorle { "ezas, North the result of etficlent large-scale pro- : COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY NEW ORLEANS, March 4.—Lum- ber production in mills of the South- ern Pine Assoclation decreased 2.9 per cent last week, while orders d¢ creased 4.8 per cent and shipments in- creased 0.5 per cent. Orders on hand Monday were 261,954,672 square feet. HOUSTON, March 4.—Ofl produc- tion in the gulf coast and south Texas flelds the past week made a daily average of 102,190 barrels, gain of 4,170 barrels over the pre ous week and the first time in mont| prrductlun has exceeded 100,000 ba: rels. DENER, March 4.—An official test of discovery well on the Hamilton Dome, in Moffat county, Col., shows it Howing 4.580 barrels a day, with the drill about twenty feet in the Da- kota sand. The company claims the wull is the best ever brought in in i Colorado. FORT WORTH, Tex., March 4.— ra'n receipts In February were the largest in the history of the Fort | Worth market, totaling 1,691 cars, as ! against 920 cars la; ar. Grain ex- { perts attribute the increase to heavy | domand for Texas corn und oats. i { ern wrist watches are popular now in nina, according to H. E. Heacock, president of & Shanghal jewelry firm, who has just arrived here. Lack of | pockets In Chinese costumes accounts for this trend, he sald. DETROIT, March 4. — The Palge Detroit company’s schedule calls for { production of 7,800 cars in March. | Febiuary sdles of Paige and Jewett cars were 5,589 cars. | NEW YORK, March 4.—A sharp de- tcline in cgiy that started last week in {continuing. With fresh supplies AN PRANCISCO, March 4—Mod- | O, TUESDAY, MARCH 4, 1924 ARMOUR 1923 SALES EXCEED$800‘,000,000 | NEW ORLEANS-CELEBRATES: NEW ORLEANS, cotton and rice exchang: ied today, Mardl Gr. FINANCIAL! :-Money to-Loan - = March 4.—The Becured by first deed of trust on real estat mere;clos Prevatling interest and commlsslon. Joseph 1. Weller 420 Wash. L. & Trust Bldg., Oth & F N.W. Feature of Year Was Marketing of |~ . 14,000,000 Moré Hogs Than in Previous Year. CHICAGO, March 4—Armour & Co. in 1923 experienced the most Success- | ful year since the war period, total sales of the company exceeding $800,- 000,000, -and the net profits being at the rate of 1% cents on each dollar of sales, according to the report of Prestdent F. Edson White to stock- holders. The year was noteworthy on mccount of the reorganization of the financial structure of the company, the purchase of .the properties of Morris & Co., and perfection of ar- rangements under which 40,000 em- ployes purchased stock in the con- cern, the report sald. ° “The outstanding feature in the packing industry during 1923." it de- clared, “was the extraordinary num- ber of hogs marketed. There were 14,000,000 more than in 1922, an un- precedented situation. “NEVER” —a loss to a c'ient of as much as a single penny in either principal or-interest is a rec- ord we prize most highly. Our past careful and con- servative methods that have established for us this enviable record undoubtedly will guide us in the future. Notes of $250 up Bearing v 19 pouring in, sellcrs do not know_when the bottom will be reached. White egis ure cqually as weak s brown. FARMERS OPPOSE SCHOOL “WASTE” Frederick Association to Demand Removal of Several Branches. t i i ments of raw materials to an extent Ky | Kgecial Dispateis to The Star. FREDERICK, Md., Mareh lieeting of the Frederick ;k--rmm.' Association 4—At a County attended by the lana the board of education, farmers \charged local and state school officials cith extravagance in the spending of ublic achool funds. The association will name a com mittee of <even members to confer with the Frederick county board of education and State Supt. Alhert M. Cook on the educational needs of the community, at which time the farm- lers will deman that the local au thoritiex remove domestic sclence, arts and music from the rriculum, <olution opposing the passage of o bond issue of $95,000 for the con- tructio of new chool bullding: t Jefferson, Adamstown, Myersville, abillasville, New Market, Liberty and Knoxvillé was adopted. ' Within the past three years bond fsues totaling $250.000 have been authorized for the construction of new hu!ldings and the repair of others, and was found in sufficient, school offictals claim, to complete’ the program, Carlton Horine, a farmer, of near board of county i P | i i {larie sums of money spent by school {authoritiex, the building at Jefferson, iMd., “swaved and rocked in a storm like a ship at sea.’ UNEARTH HANDCUFFS USED BY SLAVE RUNNER Escapades of Dan Logan Beafore Civil War Recalled in Mary- land Section. Special Diapateh to The Sta HAGERSTOWN. March 4.—Memoriés |of Dan Logan, notorious desperado INTO TWO PRECINCTS j2na siave runner during the days just! preceding the civil war were recalled today with the finding of a set of handcuff: once the property of the outlaw, by Charles Creager, a farmer living in the Mount Alto district, near ! here, where Logan lived fn his moun- tain fastness for years. Logan ar- rested during the civil war at the drygoods atore of his brother, Berk- ley Logan, at Leitersburg, by Union troops, and nothing was heard of him rom that time. i The handcuffs were found in ‘an old_shack which Logan once occu- pied. They are of curious design and have been presented to the Franklin county police authorities. TWICE ARREST VIRGINIAN IN WHITE SLAVE INQUIRY Paul Lampert, Held in Alexandria After Release Here, Wanted at Leesburg. Charged with violating the Mann white slave act, Paul mbert of Leesburg, Va., was arrested in Alex- andria this morning. following his re- lea:e in thie city, where he was ar- rested yvesterday. Department of Justice investigators charge Lambert was accompanied on a South Carollna motor tour by Miss Marion Utterback of Leesburg. The couple disappeared February 12, and the girl, who is nineteen years old, whs located “several days later in Alexandria and returned home. Policeman Gore of the first precinct arre:ted Lampert in Washington, but Lieut. Emerson, night chief of de- tectives, ordered the prisoner's. re- lcase umder the bellef the Virginia case had been closed. Lampert is thirty years old and has a wife and three children, the police say. GASOLINE EXPLODED BY FRICTION FROM SILK Cleaning Establishment ‘Damaged $2,500 and Proprietor Seri- - Sully Burned. Special Dispatch to The Star. WINCHESTER, VA, March 4.-— Static electricity geherated by rinsing a silk. dress In. & tub. of gaso: line was said today to have been the cause of a fire which yesterday damaged (the cleaning ‘and dyeing plant of Y. R. Jones and Company, causiig @ loss -of $2,500, - serious burns to the proprietor and ‘slight burns to an employe. Mr. Jones sald that when. he dip- ped the silk material into the gaso- line the friction was sufficient- to generate electricity, which: fgnited the gasoline. There was a great flash, and & moment later the’ entire interior of the bullding, .a stone structure, was a mass of flames. tious in mi fore you inv - * JANUARY AUTO OUTPUT." The output of automobiles' during January, according to the Department of Commerce, totaled 287,296, -as sgainst 233,810 in_January "of last | year. Following, the lead of . the General Motors Corporation, -various utomobile concerns have _eithe ice_on their madels are conteinp dolag so. about 200 farmers, representatives of ; commissioners | Jefferson, asserted that in spite of the ' Now On Hand Chas. D. Sager 924 Fourteenth Street N.W, - 36 Loan Dept., Main FIRST MORTGAGES FOR SALE THF TVPE OF SECURITY CONSERVATIVE IN- VESTORS BUY IN DENOMINATIONS TO SUIT PURCHASERS JAMES F. SHEA 643 Louisiana Ave. N.W. Panking Trust & Mortgage fo.; We want good First and Second Trusts In Washington and Vicinity— | Reasonable Terms—Prompt Inve ! tions. Call or writ ;Blnking Trust & Mortgage Co. Rooms 20-21 1410 G St. N.W, Phone Franklin 6794 EQUITABLE Co-Operative Building Association Orga «ith YEAR COMPLETED $4.755.170.03 $1.248.320.¢0 Accomplishes Most Systemail v 11 thy eftective | meann of ' sccumuluvies money. Joint the Equitable aad save with best results. Subscription for the 86th Issue of Stock Being Recelved Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JORY JOY EDSON, Presblemg FRANK P REESIDE, Sery. [ i 4 i H | | | —more than 80 issues with yields ranging from 3.55% to 7.40% are listed in our March circular. | Send for copy The National City Company Washington 741 15th St. N.W. Telephone—Main 3178 STATEMENT OF THE CONDITION Ot _the. NATIONAL CAPITAL PANY OF THE DISTRI On the 31at day of Der quired nnder the District of Columbia Cod Smended June 30, 1002, and August 18. 19 Oapital stock . ...$100,000.00 CADIGAT stock, paid up, fa ca 27100,000.00 Cash in office INSURANCE = COM. | MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Randelt H Hagnes 8 Co ‘Wanted Second Trust Notes ood rom Low rates if security is good Apply at Once to Our MORTGAGE DEPARTMENT SHANNON- & LUCHS 713 and 715 14th Street N.W. Main 2345 SPEND AS YOU GO —may be good advice, but SAVE as.you go is better: {This time-tried, old bank is serving over 42000 thrift-workers, and invites you to. utilize the facilities others find so satisfactory. & Practically any .amount will- - open an interest-earming ac- count, National Savings & Trust Co. Oldest Savings Depository in Washington Cor. 15th and New York Ave. i f Thomas W. B:ahény 8 CO. Public Utility Securities Announce the Removal of Their Offices from THE EVANS BUILDING To THE WILKINS BUILDING 1512 H Street Telephone Main 6189 Correspondent—Henry L. Doherty & Company, New York Camh in bank uncollected and in han of apents . Interest due and accrued. Total mssets Reserve as required by law Rorrowed ‘money- .. Salarles, rents. expenses, taxes, etc. Capital stock . 100 Total labilities cn racter of hukiness frAnacie ! Treakage of PAYNE, Jr., 5 - - wd *worn to~ before -me this ! y of Fehru o2k - ARLES "A. McCARTHY. (BRE 1 Notary Public. 6“!' a quarter of ‘a_ Century Expers B. F. SAUL CO. 1413 Eye St. NwW. To all holders of Securities Especially to those “scared out” in the recent break. Read our March 1st issue and get the truth about the Present Market Situation Based on facts and NOT on “ifs,” “ands,” “buts,” “fears” and all kinds of -propaganda for stock market effect! Has Teapot Dome Killed Oil Stock Chances? This article gives THE MAGAZINE-OF WALL STREET'S position on every listed oil stock. Other Special Features Economic Outlook for Italy Will Co-operative Selling Among By the Italian Ambasxador Farmers' Affect Business? Prince Gelasto Gaetanl By U. S. Senntor MeNary High Yield ‘Preferred Stocks of Oregon That Are Safe Three Unusuai Bond Opportunities What Shall I Do With My Money? —For the young single man —For the young single woman —For the young married couple this Department, ealled “Building Your Future Income,” gives you personal nerviee on—The Right Kind of Insurance— Bullding Your Own Home—Accumulation of Investments for Financial Independence at Fifty. Thexe are the regular fe; tures of THE MA ZINE.OF WALL STREET for the ma with his first §300. = All in the MARCH 1st ISSUE of Just Out! At all neicsstands—35 cents per copy — = = = = .. OR USE THIS COUPON = = = = = = The Magasine of Wall Street, 42 Broadwa:, New Yorik. Enclosed find $1.00. - Enter’my trlal subscription for the next three issues and also send me the March 1st issue without * additional charge. Name. .. W.S. ddres: