Evening Star Newspaper, March 25, 1924, Page 25

FINANCIAL., . FORESEE REDUCED ' PIGE FOR FIH | ' Local Dealers Expect Change | by Friday—Eggs and Poul- | BY WILLIAM ¥. HEFFERNAN, | Special Dispatel, to The Star. NEW YORK, March 25.—The curb market was unsettled most of the tme. today In sympathy with weak- ness on the stock exchange. Domes- tic_olls were left to drift for them- {selves, and at times pressure against try Quotations. " | Trediction that.a reduction in the Drices now obtaining on the fish mar- ket would be noted by Friday of this | week made today at the nicipal fish whary Scarcity of product due to tecent winds and | Storms has held the prices unusually | high, but dealers lvok for good | “sprinkle” of fish with the arrival of a Baltimore boat, which will bring in collections of fish from points to the south of Washington. Encourage- | ment was given the market with th irrival of a few shud Old Poin d nearby points R 45 to 48 cents a poungd and buck, to 3213 cente. Prices for other fish remain about the same as quoted in The Star a few days ago. Current receipt eggs in wholesale brought some mission chants 21 cents & doze 2ot was mu- the | m while | nts for | nearby Smuller cent or m higher Packers quoted their candled nearby ©ggs from 23 < u dozen today. med ndled to 25 ¢ Drexxed Poultry Waning. Dressed poultry declare waning with the nents from killin thefi products r poultry, hens, we sut thle demand varied a trifle to 26 and others are about off the keats put in priced at 5 youne and Calves were 13 t ney in some qu s¢h and smoked meals were firm £00d supplics b on hand and moderate demand. | Prices virtut were unchanged The banana market dropp for the “inside,” but bunche 1ent quality and cone out $4 Vegetable Vinrket Features. s reparted by the bureau of agri- onomics of o follawse woderate; d moderate; murket steady viand, Virg and i 3 7 inches up, Wine- | n0; Ben | | was exwmption plants which sent ip- rated. Live Guoting d to $1 of the the Depart- { vegetable Apples Bar West 1.00a4 2 nd_fancy Wa it extra towns, Tdaho, Vo mes yellow <hington rge size n fancy light: demand ady: arge sige, .00 sderate Iiori tepe L bulic —Supplies fairiy ® . buncied iz demand modera Floridn. 10-1n - -blanchine. i < dozen stalks. wdy four to s few 4.30: two e dozen, 3.5004.00 Supplies Most Supplies mode: good, market firm: California Iceberg type, 4 do; 5.0085.50, Onlone demand light, mark ‘ew York. Ohio and 1. most- Supplies markot baskets, | mode Texas Quotations on Sweet Sweet potatoes moderate, mo cloth-top sta No. 1 04800 most ans No. 2 = HEght, mar ke «-bu. hnmpers. Potatoes. light, demand | ; North Carolir upplies neppe light, market rates. No. 1 Tomatoes— | 45083.00; No Suppites Florida. sixe ped, best, fa count, 2.5 wrap- | count. ehoice. | ordinary quality, 1.50 | 3 Strawberries—Supplies light, market firm: Florida, refrigerators, mostly 65 per qt. | Cars on Track at S A.M.. Today. | 2 Washington, 1 Virginia, barrels, Maryiand expr and 1 unbroken cars on bbage, 1 unknown freight; nd 2w cars on ry. 3 Florida, freight: 4 unbroken cars on track Michigan, freight: 17 bar rels, Virginia, boat, 11 broken and & unbroken cars on irac Lottuce, 1 California, freight; 85 crates, Florida express; broken cars on track. . 4 broken carg on track. 7 Florida, freight: 3 broken roken cart on 1 Michigan, 1 Ohio, frei inbroken car on track. Tomatoe: orida, freight: 4. broken and sroken. . car on track. Carrot, broken car on track. Caulifiower, 4 | broken cars on track. . String bea baskets, Florida express. plants, 58_erates, Florida express. Florida expres South Carolina | broken cars on track. Mix- ables, 1 unknown freigh broken and.1 unbroken cars on trs Mixed fruit,- 1 Florida, freight broken and 1 unbroken cars on track. Strawberries, 7 refrigerators, Florida | express, Kale, 303 barrels, Virginia hoat. Brussels sprouts. 15 crat New York express. — Cucumber: crates, Wlorida expre Bananax, known freight; & track DENIAL OF OWNERSHIP - | OF SALOONS INEFFECTIVE. Judge Rules Defendants Must Tell to Whom Raided Property Belongs. | i Appie; freight @ broken track. = C: 11 13 el W YORK, March 25.—Denial of ownership of premises Specified in | federal prohibition complaints is not sufficient ‘ound for the dismissal of such complaints, Federal Judge Koox ruled ¥ d nolding t fendants can be absolved of Habilfty only by reveulifg’ the name of the owner. Heretofore numerous . dis- missals have been made on suoh pléas. Judge Knox alse issued padlock in- Junctions closing nine saloens in New York-city and nmearby points. Prohibition actvities vesterday in- cluded a- Search on_'the Atlantic Fruit Steamship Cayo Mambi by cus- toms agents, who selzed ninety-two demijohns of rum and a quantity of assorted liguors. The captain of the steamship was instructed to appear at. the customhouse tomorrow morn- ing. The liquor, concealed in the bulkheads of the ship, was found Iy after. a ‘two-hour search. All oMcers and members of the crew de- uied ownership of the liquor, { traded « was quoted |y | ert unbroken, cars on | ; » Ol and Ga Lrought Prairi s and Prairie Pipe l' about substantial de- This failed to check the South Amerfcan ofls and bu in this section was agaln unusu heavy ole Syndicate was in i a cal in for considerable attention In the industrial section Park & Tilford sold just under the high for the vear, following publication of the favorable report for the last quarter of 1 This gave total current 4 above operations in | d réached a new high for the | Lako Petroleum also | THE EVENING NEW YORK CURB MARKET Received by Private Wire Direct to The ‘Snr Office |sets as $4,599,382 against total cur- ,rent liabilities of § . The net profit of $429.333 Is equal to 3214 a | $hare on the 200,000 shares of no par vapital stock. Other points of sirength were Hud- son and ® Manbattan preferred and | common and Hudson Company prefer- red. The buying here was in respo to the showing in the annual report of the Hudson and Manhattan le utilities continued to be bousght. pecially Lolorado Power, up almost | two point Motor sfocks moved in sympathy with weakness {n this group big board. Dubilier Radio It 4 point and Cuba compa almost two points to 38% Dealings in the mining group were mixed. Kelly extonsion failed to re trace any @ppreciable amount of th loss of the previous day, while Ne Dominion Copper and a number of the other active leaders held firm around Monday's prices. over declined it ———————————— NEW YURK. March 25 —Following 15 an official }ist of bonds and etocks in the Ne Market tod: BONDE Hizh wat ol 7ien uda G Am 0l & W 1 Beth Nteel 1 Can N Sorv Tx € Detrajr City 4 Detroit Ndison 6x Match Kegecott Cop ¥ Leb Val Hut R 5 + Manitoin Power It PasSM ion brought | } Swift & Co 3 15 Un K114 & P Tnited 0N P Vacunm O3 Virginia Ry 3 Wt Miils 6 17 U 8 of Mes v ¢ of Salea it STANDARD OIL [SSUE uits 200 Anz 10 B 5 hundreds. 4 Varils Rynd 95 Lago Pet 13 Livingston Pet . 10 2 Mes Panuco 11 Mount Prod 19 Mutial Oil ¥t cfs 1 New Rradf Oii w | 24 New Mex Land Y Ol F) n Beaver Oil on P tin nuock Ol ] o) Bank Ol uew un Con ... 1% [her original pine left. runs New Eng- | 1 1 10 W ot ¥Vabric £ Aw I& Tract y —_— WALL STREET BRIEFS. By the Assoviated Press, NEW YORK, March —Barring some unforeseen news developments, stook market observers expect the prosent irregularity of price move ment to continue until after the pub- lication of the Dawes reperts. In- terests whioh have been aotive on the constructive side in the past are | restrioting their commitments until i th report is out of the way, There has been a growing tendency for Amerlcan companies doing a lirge forcign business to organize suropean and South American Sub- jaries. The Morgan Bugineering Company reports net rofits uf_ $1,075 1923, @ against a deficit of the vear before. Wall Street today heard reports that American and British bankers, who rocently extended large credits to the Frenclf government, wore not entirely pleased with the sensational recovery of the French frahc. These pankers are of the opinion that it would have been for the best inter- of all concerned If the rise in French curtency had been an orderly one. Private cables today indicated at the 60 per cent Interest rate to involuntary defanlters would be abolished and less wevere pemalties imposed. Associated Oil Company and its proprietary - companles, including Amalgamated Oll, had net profit of $5,950,683 in 1923, equivalent to §2.65 par value capital The May: Depart pany repotts net sales of for the fiscal year ended January 31, 1 the largest for vear, and net profit of $6.880,542, equal after preferred dividends to $12.09 a share on the common stock. profit of ko & Tiiford, Inc., in the first four months under the Schulte Stores management, which purchased the ‘property last August, was $429,334, after taxes and Qepreciation. Steel praduction in tha Youngs- town district is declining, but roll- ing mill schedules are well maintaln- «d. Of the fifty-one independent open-hearth furnaces forty are melt- ing, against forty-four last week and forty-eight earller in the month. The Midwest Refining Company has gompleted its No. 7 well on Hogback Dome, Navajo reservation, north- western New Mexico, at 647 feet, with additional production estimated at 1,200 barrels of oil. This is the largest well completed in that state. Net Further confirmation of reports that northwestern railréads wonid make a good showing for.Iebruary was seen -today in the . February statement of the! Pere -Marquette, which_shows net operating income of $621,317, compared with $189,820 the same month of 1823, t 1 Am Multigraph €0 - 2 hridy Moh wi § cuta Co G Doehder B Cas prt Strwi ¢ liaz & W Grwit Fludson & Ma Hodsom & M HR pf resge Dept Stotas Lake Tor Lout Lo V Coul new wt Mesabi Midvala ) AT [ Pl an, Ri Vow 21 e Prod Expis | Todd Ship Talt Piof Shar nw Enited Ketall ¢an % Kood Prod wi MINING A Esploration Huk vak Gold M Lutie & Western Copper R Hisck Ext Mt Btre ind Flotencr Indwpetd Lead t Kel'y Eat Mine Rerr Take Lone St Mammoth Div Metuls Frodu Nation New Cornel New Domin Cop New Jersey Zine % e HI Flore 2 ied Warrlor. eorgan Div ] axtorn Tnited Verda Ext . I SRS N {SCORES NEW ENGLAND FOR WASTING FORESTS ORANGE, N. J., March 25, ew England are the leading | ‘nature scoffiaws’ of the country, icharles Lathrop Pack, with & long New England ancestrs back of him. told members of the New England & |ciety in sexcion here last might. The istute of Michigan, with 2 per cent of iland a good second in the “scoffia race,” Pa¢K said, in asking the United Pub- | STAR, WASHINGTON, 1923 COTTON YELD l |Special Committee Named | by Secretary Hoover Reports Slight Deduction. i | { | I8 {closed July 31, 1923, wa {have b The supply of cotton of the United utes for the cotton year which declared to en 13,180,642 bales, instead of X the special committee appointed by Secretary Hoover to in- {vestigate the consus bureau's stati tics, reported today. Controversy over ‘llur 579,504 bales used by the census !bureau to balance distribution deters mined Secretary Hoover tc committde of leading statisticians ex- mine the question. The committee ported that it was able to make erial corrections in the Agures an- rced last August by bureau. but that a differenc jbales, abont thr fifths of wal differe e between the sunply and Qistribution, remained unexpfained “City Crops” Considered. commitiee agreed that the so ity crops.” made up of col The called ton L iples by buyers, pleked amazed Ly weather an from press sweepings. sh wd at 125,000 bales and be added supply, as well as about 45 of Mesican cotton, which the country without appe: iports. It was found 33,708 bales firs and Tales |t jas : {exported had been reimported be deducted from the d ax well as 15000 lales linters, which had been blcached exported at lint cottc its investigat 0 storages showed d nd warehouse stock applied to oiher |amount to not {and th should | bution, W degree which would - FIGURES REVISED i I | i \ i 1 + | | H have a | ken from orignal bales as sam- | from balas Id be es- > should be deducted from the distribu- ' {tion. Re-exports of 20,171 bales of forelgn cotton had not been deducted from the supply. as the committee | suld should have been done. The commitiee recommended An ad ginned pric iptovided in {gress { Another gi report in wectione where the entire crop has not been ginned by March 1. to ascer- ta ¥ total amount of the crop. Developments of plans ate the cotton baled from samples and the so-called numeration of the { brought in from Mexico but & in th OFts st stics lection of statisties of ion and of cotton held in panner as to dimin. danger of overstatement ment of the supply ation under a committes or other harmonizing agency of g ton statistics ued by the us in t artment of Com ¢ and by one in the Department Agricultiure. Dixerepancies Probable, It has been the custom of the bu- 1€au of the census at the clgse of each cotton vear.” said the committee, “to present in 4 single statement the fig- fures of supply and cf digtribution. In | view of the difierent methods employed lin obtaining thé two s lix mot at all surpri yshould be marked d tween them. Jach year a | hus appeared, and on a few occasions it has been significant. In these discrepancies we have | found no evidence of anv willful mis- tatement of figures by any of the informants or by the employes of the bureau. It has been the custom of the bureau of the census in making | it annual statement, to attempt, un- | fortunately, as we think, to baianee the figures for supply and those for distribution by adding the requisite number of bales Lo the supply. The committee has found no instructions (o this effect in any act of Congrems, nd doubts the wisdom of continuing the practice. It is in_this way that | the disputed figure. 405 bales, the repori of August 18, 1 origin.” August 1 be mad ! now pending in Con- States (o pay particular attention this | ear to Farest Protection week, April i, as proclaimed by President Cool Ze. Pack left for Washington aft neeting to attend hearings on the {McNary-Clarkn forestry bill | Pac Jelety of Colonfal Wars, said New [ 1y £ anders are dowbly to blume for vio- | jlating nature’s laws in cutting forest and not providing for reforestation. They started cutting many vears ago, he said, and, of course, the rest of the country patierned aftér their actions, since everything is o good that comes from New England, including apple pie and maple sugat, Connecticut nnt- megs and Boston beans. L BERLIN BANK STATEMENT. BERLIN, March 25 —The state- ment of .the Bank of Germany, as of Mareh 15, shows an increase in coin land bullion of 36326000 marks. Gold [holdings increase 4,000 marks to 464.- | 807.000. Also the following changes in_trillions of -marks: Treasury and loan notes decreased 160,00 notes increased 32,856.460: notes of other banks sed bills_of exchange and® cheques increased 38, 274,009; renterbank bills and cheques decreased 103,663,920 advances de- creased 74934,193; rentermark di counts and advances decreased 15, §50; Investments increased 76,420 other ussets decreased 38,745.685; notes in cireulation inereased 307,976 depusits increased 9,618.779: othér ilabilities in- creased 10,280,696 renterbank Idans fin- p:hanged. assoclation — BEET SUGAR DIVIDENDS. EW YORK, March 25.—Directors of ithe American Beet Sugar Co., vester- ‘day doclared four quarterly dividends of $1 each on the common stock. This is the first dividend action stince Jan- uary 31, 1921, when 2 per cent was pald, LONDON WOOL AUCTION. | LONDON, March 25.—A fair selection {at tha wool auction. yesterda: { ferings were steadily absorbed at firm ings were steadily absorbed at firm rates. American buyers purchased a {fuir supply of fine, greasy merinos. 1 l l i i " CLOTHING SHOP LOOTED. Special Dispateh o The Star. FREDERICK, Md.,, March 25.—Men's c!otl!ll\g. valued at about $3, taken Trom the Young Men' the central part of the city, square from the police station, early on Sunday morning. KEntrance was gained through a rear barred window adjoining the Trinity Chapel of the Reformed Churche 2 ——— Have Youw Been Stumg Yett Some men have to get stung good and hard befors they learn to be cau- tious in making investments. Be- fore you Invest—investigate! 2 ——— BOSTON WOOL PRICES, BOSTON, March * 25 (Speclal).— Trading {n the Boston raw wool mar- kets again wae spotty today, but prices were well sustained. The level, however, despite the streagth of wool abroad, is about 5 cents below prices of Inst year at this time. Fine staple territory is quoted at $1.40 to $1.46. At the end of last March $1.45 was the bouom. . who is & member of the So-| renterbank | i | { 1953 Non-redeemable for twenty years except for sinking fund Issued with the acquies- cence of the U. S. Goy't. under provisions of the Treaty dated May 22, ( 1903. ! Price yielding about | 5.95% | Circular upon requent { i { | Washington—741 i5th Teleplione—Ma i | Banking Trust & Mortgage Co. We want good First and Second Trusts Washington and Vicinity— | Reasonable Terms—Prompt investiga. l‘lnnl Call or write. Banking Trust & Mortgage Co. Rooms 20-21 1410 G St. N. Phone Franklin 5784 on the 31st duy of December. 1923, as requited nnder the Disirict of Columbia code, amended l:uu 30, 1902, and Angust 18, 1911, Capital stock, paid un, in cash | Taeposit-... SRR ds uncollected ids of agents. s rest due and acerned. .. 1L otber mswets ........ . Gomn rl 1 stock, sl Al other Illabilities: reserve for | Sundry account ! Total labilitie: Character of bosiness tramsacted during the year 1923. casusity insurance. h):a ained during the year ,u:‘-me' received during the year } Bxpemiod duriag” ih 923 uring the yea d oM. ' foual report to show cottoh for April 11 cotton ¢ of Agur=— 7. | { { D. €, TUESDAY, MARCH 1924. " 25, —immediately available to place on good First Trust loans at 6% interest. Chas. D. Sager Wortgage Pept. 924 14th St. Notes ‘}Bearing7 7 Interest il (0] —is the only form of invest- ment we recomtmend. We, now have on hand a limited amount in denominations of $100 up, guaranteed titles accompany each mote Write for Full Particulars main Chas. D. Sager Trust Notes . We have clients with funds to purchase good SECOND TRUST NOTES in denomina- tions 6f from $300 to $19, Low rates if security is good Apply at Once to Gur MORTGAGE DEPARTMENT SHARNON & TUhY) 1x¢ 713 and 715 14th Street NW. Maiw 2245 ’IF Co-Operative Building i Association Organized 1879 44tk YEAR COMPLETED Anaetn $4.755,170.52 Surpius 15.320.08 The Systematic Way ——of saving accomplishes meost. Start an acvount with us new for the future. Individual Ownership —is an interesting Subseription for the 86th Issue of Stock Being Reeeived Shares, $2.50 Per Month EQUITABLE BUILDING 915F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, See'y. . Money to | Secared by first deed of trust om real estate. Prevailing ioterest and commission. Joseph I. Weller 420 Wash, L. & Trost Bldg., 9th & ¥ N.W. MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST To Loan On— Improved Real Estate At 6% and 61,9 WM. H. SAUNDERS CO., INC. REALTORS 1433 K St. N.W. MAIN 1015-6-7 | {l i ANCIAL. It the old Nea- molitan . wign lan- guage, the érpres sion, “That's hon- est talk.” was con veyed by placing the indez finger of the right hand on the Tips and then pointing it straight Jorward. In this way the Neapol tan said: “That’s Honest Talk” This is what, we are trying to give the investing public of Washingten DAILY in these columns—and thus to protect the unwary from the trickster putting over his promotign scheme under his promise o “SOMETHING FOR NOTHING Listen not to his persuasive voice, but get in touch with our MORTGAGE INV INT DEPART- MENT for information about our FIRST MORTGAGI NOTES on improved District property worth TWICI the amount of the loan. Interest 61 and 7 per cent per annum-—with assured safety and neo depreciation MORTGAGE INVESTMENT DEP' INC . 3 and 715 14th Street NW. Main 2345 SIMPLICITY FIRST MORTGAGES —secured by income-producing real estate are not only sate. but the simplest form of i vestment. Just a mortgage promising after a definite period of years to pay a certain sum secured by deed of trust and safeguarded by restrictions which our 31 vears of experience in the mortgage business have taught us to demand. Over a Ouarter UY- a Ceniury | Without a Loss B. F. SAUL CO. Main 2100 1412 Eye St. N:Wy. Capital & Surplus, $2,000,000.00 It’s Remarkable -how many otherwise prudent men neglect to safeguard the interests of their - families by leaving legally-binding Wills. 'YOUR estate nray not. -be extensive, but large or smail, its disposition’ should be pro- vided for through a ‘properly drawn Will on this P obligate ) National Savings & Trust Co. 57th Cor. 15th and New York Ave.. Year Oldest Savings Depository in Washington i We Offer Kresge Department Store (Incorporated in Delaware in 1923) Stores The Corporation commenced dperations by uirin{ the Department Store for many years conducted b;e?‘, S. Plaut & Co., at Nos. 711-721 Broad Street, Newark, N. J. This store had been under practically the same management and at the ‘same location since its organization in 1870. The Corporation has just acquired The Palais Royal in Washington, D. C. This business was established some 45 vears ago. From small beginnings the business developed ta one of the largest department stores in Washington, now located at 1ith and G Streets, N.W., with 125,000 square feet of floor space. The volume of business in 1923 amounted to approximately $5,000,000, p - Capitalization Preferred Stock—8% Cumula- Autiorized Ouistandivg. tive, non-voting, par $100.. $25,000,000 $3,000,000 Common Stock, no par value..200,000 Shares 110,000 Shares Earnings c Both the Plaut Store and The Palais Royal have had a long record of profitable operations. The combined accounts of the twc stores for the past five fiscal years show net profits, after giving effect to Federal income taxes at the present rate, averaging $560,479.34. It is estimated that after the completion of improvements now in progrese or being planned, the gross business of both stores—now averaging $10,000,000—should amount to $15,- noofiooo per year, with a corresponding increase in net profits. B 5 ; The statements 8% Cumulative Preferred Stock Common Stock of no Par Value Management The Directors of the Corporation are as follows: SEBASTIAN S. KRESGE President of the Corpora‘ion (President, S. Kresge Co.) LOUIS KAMM .Vice-President of the Corporation CHARLES ‘B. VAN DUSEN e Vice-President of the Cerporation (Vice-President and General Manager, S. S. Kresge Co.) I.. SIMON PLAUT..........Treasurer of the Corporation P. T. EVANS (Vice-President, S. S. Kresge Co.) R. R. WILLIAMS (Vice-President, S. S. Kresge Co. CHARLES E. MERRILL (Merrill, Lynch & Co., New York) Future By use of the large purchasing power which the Corpora- tion will havé and develop and the purchasing facilities at its disposal, we are convinced that the public wil! be affordec an opportunity of buying standard merchandise at lows prices than heretofore possible, with very substantial profits resulting therefrom to the Corporation. After a careful study of the merchandising situation, it our firm belief that the Corporation has every prospect of a successful future and that the development and growth of the business will more than xfy our expectations. Legal ‘details by Messrs. Beel:man, Menken & Griscom, New York, Preferred Stock ........... ". CRANE, PARRIS & CO. 823 15th St. WASHINGTON, D. C. esented in this advertisement, while wot ouaramteed by vs, are abtained from ..3100 per share . $50 per share sources which, we beliere reliable and on which we have acted in the underwriting of these seouri