Evening Star Newspaper, April 27, 1924, Page 35

FINA Gain in Income NCIAL. arch During M Of D. C. Gas Light Companies Both Corporations Show Increase in Net Earnings—Buildin g Council Holds Quarterly Meeting—Local Finance. ¢ revenues, accompanied | expenses, were | nonsible approxi- £32.000 ne of the pany durin vared with the ¢ last year, stateme led with the Public nission yesterday afternoon shows The company for the period | mounted to 68 in contrast| with $16.228 month of | 1st year. Operati were up gain ol in the net Washington Gas Mareh, 1924, as com- corresponding month ately 332 corporate Light | o t o nit tilities Com 378,087 for the same i revenues of the company about $13.000 to $431.416 totaling $30: or an for the samc month Deductions were made extent of $43,14, classified as Interest on_the per cent 321,66, terest on the Cent mortzage bonds, interest on cons- | : interest on biils | zation of debt Scou Likewise, rled monti, 45 s u onth o favorabl showing t $4, st year. this company with expenses come of ¢ the same amounted to! totaling | | Building Council Meets. | r quarterly meeting of | Assoctation Council of slumbia has been llowing members United | lding and | who will attend to be held in to 1, inclusiv C. Clinton_James, and James ¥. Shea d wers James M Maedel, Charles Berry It is the al delegation fro : nutional meetin ived at the il showed a growth of ail the The regul annual land nter, sis elect t Schu crnates Woodward, repor TRolaT 1t Curb WMarket Offers Safeguard. York Market Asso- “ga wed the lead York Stock Exchang n_of usures to safe- | fully interest of invest- 1 speculators and has adopted the | dr to its by-laws which | overning comm of the big- | exchange put through last members are made rec meet- | ver €11 local 550 sub- NOTICE! | News for this column must | | be received by the Editor of Veteran News not later than 12 noon on Thursdays for pub- lication the following Sunday At the last mecting of National Capital Post, No. Veterans of Foreign Wars, the resignation of the ior Vice Commander H. P. Clem- epted as his duties and | nroposed activities would encroach much upon his personal duties. The degT: team is therefore'to go to the 25th annual encampment at Atlantic City, with 2 new man in the junior vice commander’s chair. R. C. Muschlitz and A. J. Cotter have been nominated to fill the vacancy. Nom- nations will remain open until the next meeting at which time they will be closed and the election held. Senfor Vice Commander D. J. Leahy frman f Poppy mittee, sful to date in plac- in the 127, s been sucee & more than 2,000 poppies Lut he is ng volunteers join him and elp him “Go Over the Top” the last | our days of May when the big drive will be on he degree team nds of wearers, fast coming into public eye. E. S. Bettleheim, irman of the national legislative nmittee, 4 national oficer has re- quested the team to accompany him Purcellville, Va., today to install | »c officers and members of the newly v#ganized post in that city. The post to be known as the Purcellville Post, No. 1177, V. F. W. and Richard Drear, formerly a member of Equality, Walter Reed Post, has been elected commander. The Tank Corps Post met April 14, it the chamber of commerce rooms in the Homer building. Commander Frank L. Peckman presided and gave @ report on the recent meeting of the department execulive committee. A motion unanimously adopted by the post authorized the commander to offer (o the department memorial flicer the services of Tank Corps <t in decorating graves of ex- service men and holding services at Prospect Hill Cemetery in connection with the Memorial day programs to he carried out by legic throughout the department. omimander was also authorized support in the department executive committee a proposal to increase the annual dues payable to the depart- ment members of he legion in the District of Columb | United | Connoet still ] 3 |now being erected ir jeet te investigation by the authori- ties of othe ‘hanges with which they may do business. — The amendment adopted i with that passed by the New York St~k Exchange, and under its pro- visions a member may be compelled by the association to open his books and records for inspection by anothe exchange, which may be investiz ing any traunsaction’ in which su member had a part. The adoption of this amendment by the curb was scen in Wall street as further evidence that the big board is exercising a patesnal attitude to- ward the curb. In the last year there have been two or three developments which indicated that the curb was looking toward its bigger for advice, and was co with it in an effort to st scketing and other swindl, ods. identical ts sper np g meth- Personal Mention. Harrington Mills, vice president of he Commercial National Bank, will ive his third 1 dinner at the Harrington next Tuesday evening at k to officers, directors employes of the Commercial Natio Mount Vernon Savings Ban Fewer failures occurred in States last wee total 370 being reported to R. G. Dun Co. This number is 31 in excess the 358 defaults of a year from the Pacific co was a small increase, which the statem s® is separated had fewer failures last week than the previous period, the largest reduction being 13 in the west. Securities Unlisted Noted. The following latest “bid” a “asked” prices for unlisted sccurit e quoted for the zuidance of hold- ers of these issues BONDS th & [} of & of go. Aside . where there 11 sections into Bid. Askad Army & Nav - Metropolitan ab Club 4125 STOCKS Aracostia Rank ... Pauking Trost & Morigage CHAPEN-Sacks 82 DF..ooenens Chapin Sacks 7e pf tiwns' Savings ut Ple Co.... . 6 Meurleh Brewers Hotel (o mental Bank Tide In w0 0 13 o werk |y Ladies' Auxiliary, were in charge of the entertainment. A delegation from Peary Ship will to the Marine barracks at co. Va.. May 1, where Gregory. U. 8. N.; Gen. L Erett, commander-in-chief of ‘eterans of Foreign Wars, ephan. senior vice « hief, will address the on duty ther. the purpose ¢ 1bers for the P erans of Foreign Wars. The ship'’s company unanimouel adopted 4 resolution commending Congress on the passage of the immi- gration bill. Lioyd the and Gen officers is t ruitin hip and Gen. John J. Pershing. Postmaster General and Mrs. New, Secretary and Mrs. Work, Secré! and Mrs. Davis and Gen. and Mrs. John H. liines have accepted invitat be added to the lit of patrons and patronesses, headed by President and Mrs ol- idge, for the annual ball of the Dis- abled American Veterans at the Wil- lard May 10. Invitations are beir officials of all the rec service organizations expected there will be ering of velerans at ih will end the indoor soctal Arvangements are b bring the badly wounde Ita, Walter Re 10 enjoy th »m the Army, will play & extended to ized former and it is rEe matl t. which season & murde n f 1 xnd affair at Navy and hich Ma- rines Although all delegates have not vet been chosen, J. R. McDonald of this city, fourth’ district committec- man for Washington, Virginia, Mary- land and West Virginia, has no | the national headquarters of the Di abled American Veterans that least twice and pos:ibly three times as many men from this section will g0 to the national convention at Salt Lake City the last week in June as attended "the gathering at Minnea- polis last summer. As the st Division's outstanding hero in the American expeditionary force and the only American in th world war to win both the congres- sional medal of honor and the dis tinguished service cross, Private D Edwards, who lost hi ght arm aad the use of his left leg while serving with the division, has been selested to unveil the Ist Division m rial, the rear of the State, War and building, Ccto- ber 4 next Edward's last feat in going A, W. O, L. from the hospital to join his cut- fit in time to take part in the hbis- toric Soissons offensive will be re- called by all_ist Divisions vets. President Coolidge, in the presence of the greatest assemblaze of lst Division men and representatives of the allied armies gathersd since the armistice, will dedicate the memorial, Admirui | T. Claude Perry, chairman of the dance committee, reported the post nee had been postponed until May at Fairmont Inn, 14th and Fair- according to plans for a monster di- vision reunion announced by Gen. Charles P. Summerall, presid mont streets. The post instructed the commander o confer with department officers of the American Legion Auxiliary with a view to ascertaining how best the post can assist the auxiliary in its ‘fforts to establish a department liome and service club. The next meeting of the post will be held to- morrow night. The Tank Corps Post Unit of the American Legion Auxiliary met April 14, at the home of Mrs. T. Claude Verry, 2719 14th street northwest. Most of the evening was devoted by the members to completing the unit's quota of paper poppies to be sold Memorial day. After the comple- tion of routine business the members were entertained at supper by the hostess. At the regular monthly meeting of the Admiral Robert E. Peary Ship 427, held at the Odd Fellows' Temple Tuesday evening, Admiral Luther E. Gregory, U. S. N., chief of bureau of vards and docks, was taken into active membership in the ship’s com- Pany, and as a token of the high es- toem in which he was held by the Veterans of Foreign Wars, and es- pecially Peary Ship, he was present- ed with the Cross of Malta, the offi- cial insignia of the organization, by William Homer Carroll, captain of the ship. Upon conclusion of initia- tory exercises Admiral Gregory, Who wwas a close friend of Admiral Peasry, spoke upon the life of the grea Arctic _explorer, urging that we us Americans emulate the life and spt-t ©of the courageous naval officer Peary, Edwin Denby, former Secretary of the Navy, was taken into honorary membership in the crew and express- ed his pleasure in becoming a ship- nate, assuring the members he would strive to be a shipmate in every sense of the word. Upon conclusion of {hess ‘brief exerciges a_five hundred was held, after which refresh- Troals wore served, Mra C. I, Cross and Mrs. William Homer Carroll, Jresident and vice president of the of the 1st Division Society Gen. Summerall has issued : to the 60,000 officers and men who served with the division, and as man veterans in all parts of the country ible will be induccd to trip to Washington. They urged by the general to send their present addresses to the secretary of the 1st Division reunion committee, Army building, New York city. N. Y. Stock and Bond Averages. Saturday, April 26, STOCKS. Total stock sales, shar Twenty industrials averaged 92.95; net gain, .49. High, 1924, 101.24; low, 90.28. Twenty railroads averaged 81.61; net loss, .04, High, 1924, 86.32 BONDS. Total bond sales (par value), $6,646,000. Ten first grade roils averaged 86.71; net loss, .14. Ten secondary rails averaged 86.21; net gain, .2 Ten public utilities averaged 8$7.62; net gain, .17. Ten industrials averaged 93.27: net gain, .10. Combined average, 38.20; net gain, .09. Combined average month ago, $8.10; year ago, 86.72. 451,200 low, 81.00. THE_SUN | PRICES TEND HIGHER IN N. Y. CURB MARKET Week End Record of Business In- dicates Restoration of Interest in Offerings. INDUSTRIAL ISSUES QUIET Many Substantial Advances, How- ever, Follow Nervous Opening. iy the Associated Press, NEW YORK, April 26.—The market on the New York Curb after showing |4 mervous tone and sharp declines in the first few days later developed pronounced strength, and during the last half of the week many issues made substantial advances. Standard Ofl stocks were directly influenced in the first few days by as- sertions that a decline in the price of | |erude oil was close at hand and when |a reduction was made in the export |rate for gasoline these stocks were under pronounced pressure. Later in the week, however, definite state- ments in to” improvement in | the trade followed by a brisk upward movement. Indicate Market Tendeney. Oil and Gas indicated market tendency, first de- | over 8 points to 2 but | than covering this loss when the upward movement started. Stand- 4 Oil of Indizna was traded in on e scale, and after declining over points not only recovered its loss {but ended with a net gain of more |than a point for the week. The widest | movement was in Standard Ofl of |Ohio, which viclded 15 points and then made an equally sharp rally. Similar movements oceurred In_Ne- {braska, Kentucky and New York shares, | Indcpendent ail stocks were well Imaintained all through the week, buy- ing of issues like Salt Creek pro-| | ducers indicating accumulation ~ for | speeial purposes. | Industrial issues were quiet when the deelines in the oil stocks occurred but fn the last few days sold at_ma- | teriaily higher prices. Hudson Tub: issucs were in steady demand. the common moving up over 1 point and | Hudson Company preferred rose 3 { { points. | airie the ong Feature in Utilitiex. ght and Traction was | sture in the public utii-| neing over 4 points and to 1 points were made in wealth Power, Lehigh Power | of these ' issu Motor | owed @ he tone, Durant | lding to a new low s moderate rally from th was in increas:d de following the statement of issued a short time axgo. | Mining stocks were active with | Wi in the copper {ssues of statements about ex- | retgn requirements for the etal. Kay copper, in which the trad- | s largest in copper group. sold | new high record. There was sed demand also for silver especfally Nipissing, which was dircetly Influenced by the re-| | ports “of absorption of a large gold- | producing property. vy MADE IN FIRST HOUR| ’Advances at Market Opening Due. | Only to Initial Demand, | Is Report. \ NEW YORK, April 26.—Coffee futures | opened unchanged to 8 points higher on |a little covering, but lost the advance after the initial demand had been sup- | plied, with December easing off from " 12.3 under realizii Decy a 5. with the general market closing net unchanged. Sales were esti- | mated at only 11.000 bags. May. 13. Jul; 1 tember, 12. October, 12 Dexembe: :_March, pot coftee_du 1 183 to 143 inciuded part Rio exchar Rio mirk o higher. San- tos 100 reis higher (o 430 lower. Brazil- fan port receipts, 40,000 bags. Junaidahy BALTIMORE PRODUCE. BALTIMORE, Md.. April 26 (Special), eral live poultry market v to firm under only mode- receipts, especially of spring | chickens which are active at full quo- tations. All arrivals showing an aver- age of 1!'3 and better meet with |prompt sale, but smaller size spring- |ers are undesirable and shipments are not advisable as they only tend to depreclate the value of the better |stock. Large springers bring 50 to 4 pound and 45 to 50 for smaller. | Leghorns, however, will not br over 45 to 50 for large and 40 ¢ 4 |tor small. | Winter chickens 212 pounds and un- der also continued in good demsnd and find ready sale at 40 to 5. De- {mand for choice fat old hens is good and the market is firm at 28 and 29 | for medium to large. but small and | leghorns will not bring over 25 and | 26. Old roosters in better demand and values rule slightly higher t 16 and Ducks are steadv with receipis only moderate of choice fat sto. which sell at 25 to 28, but ample of small and poor which are slow sale |at 22 “ana Pigeons and guinea fewl in fairly good demand and in only light receipt, hence markst is lfll‘lll at 40 to 50 a pair for the former, und 40 to 60 each, for the latter. zeneral steady under fair receipts, but with the cold storage operators taking up available supplies, the -narket hes |been cleaning up daily and elosed firm cents a dozen for native and nearby firsts in free cases. but aver- age receipts have to be sold at a dis- count. Prompt and frequent ship- ments are advisable to command top quotations. The white potato market rules easy under liberal receipts and demand only fair, due to increasing arrivals of new potatoes from the south. No. 1 Maryland and Virginia potatoes, with the exception of McCormicks, which sell lower, bring 1.50 to 1.75 per 100 pounds and 75 to 1.00 for No, 2; 150-pound sacks, all sections, sell mestly 1.25 to 2.65 as to quality and condition. Sweets and yams continue in fairly good demand and with re- ceipts of the better grade light. The market rules steady at 4.00 to 7.00 a barrel for the former and 5.00 to 7.00 for the latter. No. 2 stock of both plentiful and slow sale at 2.50 to 3.00. | Demand fairly active for native and nearby garden truck, but stock must be of first quality to command top values of the following quotations: Beets and carrots, 4.00 to 6.00 hun ared; horseradish, 3.50 to 4.50 bushel; kale, 15 to 20 bushel; onions, 1.00 to 2.00 per hundred pounds, and spring, 50 to 1.00 per hundred bunches; rhu- barb, 1.50 to 3.00 hundred, and spin- ach, 50 to 65 bushel. Native and nearby apples continue in ample sup- ply, and, while demand is only fair, market rules steady at 2.00 to 5.00 barrel for packed stock and 50 to 1.40 per bushel basket. —_— One on the Minister. From the Almwick Guardian, ‘1 met our new minister on my way to Sunday school. mamma,” said Wil- lie, “and he asked me if I ever played marbles on Sunday.” “And what did you say?’ mother. 2 “I simply said ‘Get thee behind me, Satan! and walked off and left him.” Sheao T e Bombay is the leading pearl mart of the world. 5 1 egg market rules asked |the old | behind. and even they were higher at | the close than at the beginning of the | gations” of a little lower grade. | bona” market COFFEE LOSES GAIN | s b NUNDAY NTAR, WASHINGTON, D. C., APRIL 27, Dependable Securities Win First Place as Investments Strength of U. S. Libertys Past Week .Deemed Significant—Financiers Seek- ing Employment for Surplus Funds. BY GEORGE T. HUGHES. Special Dispatch to The Sta: NEW YORK, April 26.—Amid all the uncertainty as to the trade position evi- denced by the alternate ups and downs of speculative stocks, the one movement as to which there has been no doubt possible this week has been the steadily increasing strength in the ifvestment market. Quietly, but surely, quotations for high-grade bonds have been creep- ing upward. The leaders have been the obligations of the United States government. All liberty 4% per cent issues touched new highs for the year this week, The Treasury 4%s equaled their high.” Only the tax-exempt 3is lagged week. Also only the 31435 were selling below par at the close of trading. Liberty Strength Significant. This strength in liberties is significant. It cannot be accounted for, as has been the case previously when government bonds were advancing, by saying that they had the support of buying for ac- count of the British government or through purchases for the Treasury sink- ing fund. There is no profit for the British in buying liberty bonds above par. Nor were they influenced by Treas- ury operations. What_has been happening is that banks, financial institutions and, to some extent, though just how much no one | can say, private investors have all been forced to find some cmployment for their surplus funds. Always, under cir- cums nces like the present, the first recourse is to securities about the status of which there is no room for argument. Experience shows that sooner or later such buying broadens out to inc'ude ob In measure that has been going on this | week. Other High-Grade Bonds Light. Not only liberties but high-grade rail- road bonds of the savings bank class have been in quict demand. Some of these rallroad nds yield only a little more than libertics, while to pri vestors they have the disadvantag, income from them is subject to ta: Liberties up to limited amounta exempt. A tynical example of thes i road bonds is the Atchison general 4s The carning power of the Atchison is so well established, and the property on | which the bonds are secured is so vaiu- able, that the quotation varies only with changes in the money and the general Atchison general 4s sold this week on a 4.6 per cent basis. This is less than the return afforded by fed- eral land bank bonds, which are entirely empt from federal income taxes. Other high-sTade railroad bonds have been ai- most equally strong. Now it is quite evident that purchas of this class of investments put quality first. It is also evident that such pur- chasers do not anticipate any considera- ble advance in the current charge for money. Advancing interest rates and higher commodity prices bring lower prices for bonds. It is. of course, pos- sible that buyers of fhese high-grade bonds m: tions. Interest rates may go up and commodity prices may advance. But there is nothing in the present course of the bond market to justify any such expectation. The weekly statement of the federal reserve banks is very interesting in this | Ways for transportation. This abnor- ratio of the | connection. The reserve system is now at a point never but once exceeded this year, or since the spring of 1917. The New York bank reports the highest reserve ratio si the United States entere war, in 1917, Here we testimony to th money. Situation Abread Wins Confidence. Right, along with the strength in the investment bonds has gone a ment of very different character. have striking abundant supply of 'RAIL COAL SHIPPING | i be mistaken in their deduc- | | pay. i move- | This | is the growth of confidence as to the | gituation abroad, evidenced in the quo- tations for foreign bonds. As has b repeatedly pointed out in these di patches, foreign dollar bonds dealt in on_this market have been selling to yield extruordinary large returns. The reason for this is well known. The di- rect obligations of the French republic can be bought to return § per cent on the| investment only because of the doubt as to the solution of the repari- | of 1594 tions dispute and as to the possibility of the French balancing their budget in the absence of substantial payments from Germany it will be observed entering into this prob to do either with the ness or with th bonds will fluctuate without the conditions which affect our own do- mestic affairs. Now all these foreign dollar bonds have been exceedingly well bought all the week. French obliga tlons have sold arcund the high of the year, and the even more speculative honds of the newly organized mid- European nations have vet stronger. View of Conditions. Some authorities believe that ng will have a more benefic upon the entire investment market than a revival of interest ih foreign wcurities. There is no logical for such an effeet, but sent) these matters is often str So far the buying of these for- cign bonds has been more lative than investment The probabilitics are that are not vet ready to take on the ott and, they sacrificing holdings Dast few vears. that the factors nothing for busi French noth- chances, are iThe Year 1924 to Date on the Washington S'tock Exchange. Furnixhed by W. B. Hibbx & Co., Hibbs Bldg. including BONDS, . and P. Tel. of V s00—Pot. Elec. Power 000—Ana. and Pot. River 000—C. and P Tel. Ist 91.500—Capital Traction 1st 5x..... 8,000—City and Suburban Ry. 1st 14,000—Georgetown Gas Light 1st § 10,000—Metropolitan R. R. 1Ist 5s... 23,000—DPot. Elee. Power 1 o B 112,000—Pot. lec. Power cons. § 0—Pot. Elec. Power deb, 6s. 2,000—Wasi., Balt. and Annap. 1st 5 77.500—Wash, Gas Light wen 138,500—Wash. Ry. and Elec. ¢ 112,500—Wash. Gas 6s.. . . 16,000—Pot. Elec, Power ref. 7s.... 7.000—Dist. of Col. Paper Mfg. €. 15,000—Riggs Realty (long) 10.000—Wash. Market Cold ardman Park 6s. STOCKS, shington Gas . .- and W. Steamboat.. . and Elec, com Ry. and Elec. pfd Alex. and Mt erci! Natlonal Bank. District National Bank 10—Lincoln Sales. $16 4 4= Storag 1—National tiggs Nati 5—Second National Bank - 426—Amer. Security and Trust. 107—Continental Trust 8—National Savings and Tru 141—Union Trus 2—Wash. Loan and Trust 220—Merchants' Banking an. Bank of Com. and Sav.... 20—Washington Mechanics’ remen’s Fire Insurance etropolitan Bank st. Saturday, April 26 Close 7915 | th 4 s . 1013 107 St 1007 Ver. ctfs. 7—National Union Fire Insurance... 4—Columbia Title Insurance.... 5—Real Estate Title Insurance. 1—Merchants’ Trans. and Storage 280—Mergenthaler Linotype 419—Lanston Monotype 12—Security Storage Co 383—Washington Market . 1—Departmental Bank . 100—Standard National Bank 24—District Title Insurance.. 10—Chapin-Sacks §s pfd. o—Chapin-Sacks 7s pfd. 100—Washington Base Ball Clu 24—Wash. Title Insurance. HEAR MAGNUS JOHNSON. | Alpha Sigma Alpha Members of | Y. M. C. A. College Hosts. Senator Mangus Johnson was guest | BUTTER PRICES REACT. Markets for Week Show Increase in Quotations. CHICAGO, April 26.—Reaction from | decline of ov regard to | 1 investors | of honor and speaker at the banquet | the decline led to steadier fecling of the Alpha Sigma Alpha of the Y. M. | and advanced prices in the butter C. A. College, given at Meridian Man- | market for the week ending April| 1924—PART 1. NEW BUYING IN STEEL LIMITED IN VOLUME Report for Week Also Shows Pro- duction Curtailed—Other Metals in Review. ABNORMALLY SHORT Railway Age Notes Recent De- cline in Loadings at the Mines. By the Associated Press. NEW YORK, April 26.—New busing in the steel market this week was limited, and production by th~ mills further cur- tailed. Buyers and sellers were apart over the question of values, and it was thought probable that new buying will continue small until 2 more permanent price basis has been fixed. Demand for pig iron was also slow, with the under- tone easy, although reduced production has brought the output nearer to current requirements. Copper was quiet and easier. While no general selling pressure was reported, there have been declines In London, and prices here were shaded both by second- hands and producers without any ap- parent stimulation of demand. Buyers for domestic consumption appear to have covered their more immediate needs, and | @re anticipating a lull in export demand, following the heavy shipments of the and unnecessary operating eXpenses |jist two months. It is believed that |there has been an accumulation of that the shipping public will have to In the interest of all concerned, | §tocks giroad In anticipation of the o, the best advice that can be given at g, yay q elght rates scheduled present with respect to many com- Tin was easie: modities, and especially coal, is o | raeponget € ‘buy now' and ‘ship now." Sumers: show “In the week ended April 12" says | spogr, Show the Railw Age, “total shipments of | coal declined to 121,010 carloads, | which, with the exception of two weeks during the y of profound business depression, 1 are the smallest shipments ever reported for PRICE A RECORD BREAKER Sees Trouble Due to Needed' Pro- duction Later. The Railway Age in an editorial calls attention to the recent “abnor- mal decline” in shipments of coal from the mines and declares that “if the present low rate of production continues for some time there will be later an abnormal increase of produc- tion and in demands upon the rail- mal increase in the demands upon the railways will cause congestion in the handling of all traffic and abnormal without making full London break as con- more interest, with sellers ring sparingly because of an antici- pated decrease in the visible supply. Lead was cut $5 a ton by the leading producer, but, nevertheless, except for |large cable requirements, a slackening ftrend ix noted dn_consuming quarters. e {In zinc freer offerings caused an ez any week in many years When 1o na- | ione ‘and there was some. talk af e tion-wide coal strike was in effect. | (on Becatce Stated in tons, the total amount of AL cause of the poor demand. 8, t Antimony was easier, following in- bituminous coal loaded in the week | A 2 er, 4 ended April 12, 1923, was 10,401,000 | €T¢38e pressure from China. e tons, while in the corresponding week PLUMBING TRADE BRISK. t was only 6,742,000 tons, a Outlook for 1924 Favorable, Dun's 35 per cent. This was the culmination of a decline in coal which had been going on | for nine weeks, Shipments 35 Per Cent Leaw. Review States. With the continued activity in building construction throughout the country, trade in plumbing supplies is holding up well, and the outlaok for 1924 is general- “The railways have to move each Iy considered favorable. Notwithstand- year u large amount of coal to east- ern New York and New England. Ship- | ing the fact that 1923 was an excep- tionally good year, spccial reports re- { ments to that territory recently have ceived by Dun's Feview show that, in L n 38 per ce s than a year ago They also to move large | amounts of to the Lake Erie ports for transshipment by Doat to|many localities, sales for the first quar- supply the fall and winter needs of [ter of the year have been considersnls the northwest, The season of lake |in excess of last yvear's records for the shipping was formaily opened during | Same perfod. This condition doee fiot the second week of April. Up to the |8cem (o be gencral, however, Supplies t report coal dumpings | are considerably easier than they were ie ports were running |a few months ago, and deliveries from than in the corre- | manufacturers are quite prompt nding part of 1923 bers' stocks are gencrally ample for | explanation of the |current requirements, and no shortage of materials of any kind is expected to develop during the summer. There {8 no |evidence of any accumulation, however. The average level of prices i8 about the same as that of a vear ago, slizht | advan some lines having been off- | set by dec 1 others. Earthenware and enamelware are holding firm. wnd ices in most other lines are steady. coal In other word umers are not Luying ca as much in anticip: requirements as they "he natural rasul mall shipments i increase in the number of coal cars that the railways have I3 On April 7 the total number plus freight cars in good -ep: “...\‘ - 278,724, and of these 139,438 were coal ars. - This means that about one- PRICES STILL DECLINE. ird of all the coal cars owned by | Tind Standing on eiings becaus. | Dun's Review Notes Conditions Past Eight Weeks. 4s no corl to haul in ihem. average consumption of bi- | al in the United States in eighth consecutive week more 1 business activity ex- | decl han advances have oceurred in m tons a week. With- | Dun's list of wholesale quotation Tota! in recent weeks only about two-thirds | changes this week outiumbered those of this much en produc {1t is last week, with more than twice as many not producy 1 shipped now it will | reductior increases: Cotton and cot- haye to be produced and shipped 1ter. | ton goods, wool aea mcs L and col “One of the principal reasons Wh | steel and lumber are amone e cond railways were able in 1925 10| modities that have further in handle record-breaking frei8htprice, and in most cases the markets are business withaut ‘car shortages” Con-|| lower now than (hey were a year age Dart of the vear was that shippers | o CGispicuous e o a catton, Tt gave their freight to the roads in|j;roducts whose price 1s abose the unprecedentedly —uniform . vOIUME|evel: The Guirent quotation, for wi throughout the vear. Fearing that| i iower be Gbout 25 cents o bushel | there would ge o car shortage when|opico o recent recovers. and corn is sey the peak of Dusiness was red 1} |eral cents cheaper than it was at this time last vear. In view of the course of prices thus far in April another de- the fall, many . shippers, in the mrst half of last year, heeded the injunction | cline in the monthly index number seems t0 be foreshadowed. =5 dealers | on were ar. ng tum For the rs of nor ten mi to 'ship early. Previous Experience Cited. “The experience, both of earlier vears, when great fluctuations of trafiic resulted In serious congestions and del and. of 1923, when these were avoided. seems to have been forgotten many shippers. The movement of freight in 1924 already been subject to wide fluctuations, he seasonal fluctuations thry en Vecam. wreat this year as in roused to the de- ‘shippirg early’ and usual fall rush ret fourtcen weeks of the differe tween the mallest and the largest weekly car loadings of all freight was 168,422 carloads. In the corresponding week of 1921 therc was a maximum fluctu- ation of 241,780 carloads, the smallest | loadings in any week being 703.269, and the largest 945,048 “The wide fluctuations in the total car loadings this vear have been madnly due to extraordinary fluctu- | ations in the shipments of bituminous In the first fourteen weeks n(i mallest weekly shipments s coal were 164,089, and . th l]iflsrx-hv\\‘tflhrl nge only 34597 cars. In the firs fodrteen: weeks of 1521 the smallest Kkly shinments of coal were 123, nd the largest 211,098, the dif- 7.878 carloads.” e FLOUR QUOTATIONS. INNEAPOLIS, April 26.—Flour, un- ranged to 1 cents higher; family 6.4526.70 a barrel: shipments, arrels. Bran, 22.00. Wheat No al16ly; ber. NEW YORK, April 26.—The actual | condition of clearing house banks |and trust companies for the week |shows an_exeess in reserve of $18.- 1607300, This is a decrease of $13,- 00, The stat 1 ine: |” ment follow: ounts, etc., $4.7 i paui bers Ped | "Cash in own vauits members Fed- | | eral Reserve Bank, $45,634,000; in- ce, $1,214,000. chP::‘r\-- in Federal Reserve Bank i 20a6s.000; i 912 15th Street N.W. Job- | FINANCIAL, FIRST MORTGAGES FOR SALE THE TYPE OF SECURITY CONSERVATIVE IN- VESTORS BUY N DENOMINATIONS TO SUIT PURCHASERS JAMES F. SHEA 643 Louisiana Ave. N.W. —phase of our mortgage in- vestments most gratifying to us is the cver jncreasing de- sire on the part of our clients to recommend them to their friends. Our Investments Yielding —cannot be too highly recom. mended. Write for Booklet Chas. D. Sager Mortgage Investments 924 14th St. N.W. Main 36 Continental Trust Company Capital One Million Dollars 14th & H Streets T T auminm H BOND SALESMAN Iavestment banking house desires experienced bond sales- man to sell first mortgages. <ccllent opportunity for an encrgetic man. State experi- ence and references. Replies confidential. Address Box 163-D, WE HAVE IT TO LOAN Secured by First Mortgage Jpon Improved Real Estate in the District Current Rates HANNON & LUCH Mortgage Department 713 and 715 14th St. N.W. Main 2345 leading farm | Money to Loan Becured by first deed of trust on real estate, [ resatitag duterees> cnaiconniimion: ‘Jclseph 1. Weller We Loan Money on Apartment Houses, Office Buildings, Hotelx, See Us About That Big Loan Higbie & Richardson, Applications Invited for Loans on Improved Property In District of Columbia and Chevy Chase. Md. NTEREST, 514% Apply to H. L. Rust Company Loan Correspondent The Prudential Insurance ~ Company of America Main 6888 of member banks, $522,014,000; de- @ase, $13.399,000. eserve in own vaults state banks sion, last night. Other special guests | were James A. Bell, director of educa- tion of the Y. M. C. A, and Daniel A. Dollarhide, dean of the Washington School of Accountancy. Frank P. Buck acted as toastmaster. A number of vocal selections were rendered by the Alpha Sigma Alpha Quartet, including L. O. Millsy D. Bobb Slattery, W. O. Rice and E. L. Brown. Paul C. Golding, first secretary, gave a short history of the fraternity. The_reception committee include L. O. Mills, chairman; Victor H. Berg- holtz, ‘L. A. Whitney, J. H. Dishman J. T. Grantham, G. B. Nickson, F. H Seeboge, . J. Fanflick, R. C. McPher- son, J. H. Ramsay, and V. A. Roberts. Other committee groups were: Menu, W. A. Thomas and Owen W. Swecker; dec- orations, W, H. Russell and E. W. Raw- lins; finance, W. O. Rice and D. L. Siegrist; music, C. N. Thurston and L. C. Riddle. ———e EDITOR TO BE SPEAKER. Dr. Du Bois to Be Heard by Asso- ciation for Colored Welfare. Dr. W. E. Burghardt, DuBois, editor of the Crisis, who is founde of the Pan-African Congress, which just closed its third annual meeting at Paris, London and Lisbon, will ad- dress the National Association for the Advancement of Colored People next Thursday at the Metropolitan A. M. E. Church, M street, between 15th and 16th streets northwest. . ‘A _mass meeting will be held today at the John Wesley Church, 14th and Corcoran streets northwest, in protest against_residential segregation. Prof. Kelly Miller of Howard University and Dr. Charles Edward Russell will speak. RS S Make-up is said to be responsible for the noticeable fact that women are losing the habit of kissing one unother when they meet. 24, all markets showing advances of from 2 to 2% cents, according to the review of the United Siates hureau of agricultural economigs issued to- day. In the four big markets 92-score butter closed April 24 at 35 cents at Chicago, 38% at New York. 30% at Boston and 19 at Philadelphia. At the low levels of the previous week butter stock: were depleted, operators refused to reduce prices further and, apparently under the selief that the bottom had been ‘eached, buying intere: developed speculative activity was resumed also and, with a shortage of cen- tralized car lots and buying of for- eign butter checked by low levels of domestic, the market was dy for the moment near the close, with re- ports indicating a slight increase in productfon, but with a beginning of vithdrawal of buying interest on hursday an unsettled tone resulted in weakness and a decline of 1 to 1% yesterdag A T HOPE SEEN FOR TEXTILES. There are some signs of gain in textile circles, the retail turnover in- creasing in sections where the weath- er has been favorable, and export de- mand for cotton showing improve- ment. More buying has been done by India and China, while there have been steady sales of some kinds of £oods to South and Central America, the West Indies and the Philippines. The larger export business has given some encouragement, but the unsat isfactory conditions in primary div sions are the overshadowing feature. Hesitation in making forward com- mitments is _still pronounced, and competition for orders is so sharp that the price decline goes on. Simi- lar phates appear in some other tex- tile lines, but the point appears to have been reached in certain quar- ters, as in the silk branch, where low prices are improving the prospects for fall. and trust companies, $8,443,000; in- crease, $189,000. . Reserve in depositorie: state banks | and trust companies, ¥ crease, $399,000. 875,000 in- ot demand deposits, $3,889,365,000; increase, £2,673,000. United States de- posits deducted. $44.264,000. Time deposits, $500,095,000; | erease, $12,205,000. o reuth $32,482,000; decrease, Circulation, $66,000. 3 ate reserve, $541,332,000. H“f~:§f in_rescrve, $18,607,300; de- , 3,565,600. Cr;um“m‘a‘ry of state banks and trust companies in Greater New York, not included in clearing house statement: Loans, discounts, etc., $833,403,200; crease, $642,500. e 43.520,300; Increase, $62.300. _ Currency w:'!‘:‘;f;g notes, $21,385,- 0; increase, $434, 3 B eposite with ' Federal Reserve Bank of Newfln\‘;ork. 74,693,200, de- 3 3,085, A e $868,720,700; de- in- Total _ depesits, . $13,579. i1 Yeposits, climinating amounts due from reserve depositories and other banks and trust companies in New York and_United States: Deposits, $820,407,800; decrease, $9,105.700. Banks—Cash in vault, $31,535,100. WOMEN INTERESTED IN INVESTMENTS Over a Quarter of a Century Will find that our 7% FIRST MORTGAGES —yield the highest return con- sistent with absolute safety. We shall be pleased to dis- cuss your investment problems with you, without obligation on your part. Without a Loss Trust companies—Cash in vault, $68,463,700. — MATINEE FOR HOSPITAL. Vaudeville Tuesday to Aid Free ‘Ward at Providence. A vaudeville show for tho benefit of the free ward at Providence Hos- pital will be given Tuesday afternoon at 2 o'clock at the National Theater. The Le Paradis Orchestra and the Navy Band will be included on tho program, as well as many profes- sional entertainers. Mrs. M. F. Tighe i chairman of the committée arrang- Main 2100 B. F. SAUL CO. 1412 Eye St. N\W. ing the affalr.