Evening Star Newspaper, May 12, 1924, Page 23

FINANCIA NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office MEATS AND POULTRY | PRICES UNCHANGED Business in Beef Line Reported “Pretty Good” by Local Wholesalers. OTHER PRODUCTS MEDIUM Slight Advance in Eggs Over Past Week’s Quotations. The Washington wholesade market for meats and poultry products opened the week today with hardly any change in price over last week. Business in the beef line was re- Ported “pretty good.” but other products experienced the usual Mon- day volume, which is not extraor- dinary. Good beef was selling around 17 and 18 cents, cows 14 to 15 and lambs about 32 to 33 cents. Pork was reported 21 to 22 and shoulders 11 cents. Eggs with jobbers ranged in price from 24 to 27 cents, the top price Leing “a_slight advance over last week. _Butter, according to g was selling from 42 to 47 cents Commission merchants in poultry and live stock had nothing new in their establishments on which to base a market, and were patientl awaiting the arrival of products from nearby points, which secmed destined to be light on account of the bad roads and inclement weather. Vegetable Market Review. The vegetable market, as reported by the Department of Agriculture, follows: Apples—Supplies moderate; demand light; market dull. Barrels, Mary nia, and West Virginia, = inches up, Winesaps best, some scalded, 4.50; No._ Ben Davis best, 3.00a3.50 Northw n sizes, _ext fancy Winesaps, i Yellow Newtons, 2.25a2.50. Asparagus—Sup- plies light; demand moderate; ket steady. Bastern Shore 3 2 dozen bunch crates, large size 6.00a6.50; other 4.50a5 2.50a3.00] Cabbage demand moderate; market South Carolina pointed typ hampers, m > crats 4.50a! 3 S e demand moderate; market strong. Texas, andard crates yellow Bermudas, United States No. 1, 2 old stock, supplies light. market dull; very few 100-1b. sacks, yellow varie United States No. 1. some poor ition, sprouted, Potatoes—Supplies moderate. stock—Demand good; market strong- er. Florida, double-head barrels Spaulding Rose, United 9.00a9.50. Oid stock—Demand market steady. Michigan. sacks Russet Rurals, United No. 1, mostly 2.50. Spinach—Home crowns supplying the market rawberries in Liberal Supply. upplies liberal mand moderate; market st arolina. 32-quart crate: nd Missionaries, 026.00; condition, low as ver ¢ light; steady hampers supplics moderat fair demand moderate: Florida, seven-eighth-bushel and South Carolina, green. around 4.00. Peas— Supplies light demand moderate: market steady; South Carolina. bushel hampers, best, large size, 3.00a3.50: poor. 1.50a2.50; North _ Carolin, bushel hampers, small, 1.50a1.75; South Carolina, bush el hampers, telephones, 2.00a2.5! matoes—Supplies of good stock light demand light; market steady; Flor- ida sixes, ripe and turning, wrapped, best, fancy count, 6.00a6.50; poor, 4.00a 00. Cucumbers—Supplies moderate; cmand moderate; market Florida, bushel hampers, fan 6.50; choice, around 4.00; culls few sales, 2.50a3.00 plies liberal; market steady: N Carolina, 5-peck hampers, head tuee, 1.50a2.25; Seuth Carolina, 3 00: Virginia, good condition, 2:25a2.50: few, ordinary condi- tion, 1.50. Arrivals Since Friday's Report. Apples, 8 Virginia, 1 Washington freight, five broken and 5 unbroken cars on tr: ; asparagu: 154 crates North Carolina, 125 crat Georgia, 18 crates South Carolina, 50 crates r shipped New York express; beets, 85 crates Virginia)boat; cabbage, 1 South Carolina_freight, 10 crates Virginia boat, 6 brokeg and 2 unbroken cars on frack; carrots, 1 broken car on track; caulifiower, 18 crates Virginia hoat; cucumbers, 125 crates Florida express: eggplant, 126 crates Florida expres: Ipetruit, 3 Florida freight, 5 broken dnd 3 unbroken cars on track; lettude, 2 Arizona, 1 California, 1 South Capolina freight, 456 crates North Carolin barreis Louisiana ~xpress, 191 baskets Virginia boat, 1 broken and '3 unbroken cars on track; mixed vegatables, 1 broken car on track: mixéd fruit, 1 broken and 1 unbroken cars on track; lemons, 1 broken and 1 unbroken cars on track: onions, 3 Texas freight, 1 broken and 3 unbroken icars on track; oranges, 2 California freight, 5 broken and 2 un- | broken cars) on track; parsley, 9 bar- rels Louisiana express; peas, 798 bas- kets and 266 crates South Carolina 96 baskets . North Carolina expre. peppers, 85 crates Florida expres: potatoes, 71 Florida, 2 Michigan, 1 New York freight, 6 broken and unbroken cars on track; radishes, baskets North Carolina squash, 120, crates Florida expres: strawberrieg, 2 North Carolina freight, 116 crates, ¥ baskets South Carolin: 3,100 crate: and 2 North Carolina_express, 31 crates Virginia boat, 1 broken car on track: string Dbeans, 327 kets Florida express; tomstoes, 2 Florida freight, 85 crates Flovdda express, 2 broken and 1 un- broken cars on track; turnips, 245 baskets North Carolina express. Previously . unreported: Saturday, May 18 —Beefs, 45 baskets Virginia boat; lettuce, 93 crates Virginia boat; radishes, 2 badkets Virginia boat. —_—— Before You Invest—Investigate. it's queer Yow careful a man san be afterwhe's lost his money. Abe Martin says)that a man who is not satisfied wthh 6 per cent and his money are goon parted. baskets DROP IN GRAIN EXPORTS. Grain _exports from the United States last week totaled 1,097,000 bushels, against 2,029,000 bushels for the previous week. The figures, as compared with last week, announced today by the Com- merce Department, follow: Barley, 50,000 bushels, against 168,- 000, corn, 352,000, against 383.000; oat, 3,000, against none; rve, 50,000, against 677,000 wheat, 642,000, against %01,000. Canadian grains in transit, 5,673,000, against 2,351,000. United States and anadian wheat flour -in transit, 213,000 barrels, against 285,000 bar- rels. Markets at a Glance New York: _Stocks—Reactionary; United States Steel at new 192¢ low. Bonds—Easy; foreign issues react on political news. Foreign exchanges— ‘Weak; French francs break 45 points. Cotton—Firm; trade buying. Sugar— Tower; Increased crop estimates. Coffee—Declined; European selling. Chicago: Wheat—Easy; Dbearish cables. Corn—Weak; better weather. Cattle—Slow, uneven. Hogs—Irreg- ular; mostly lower. NEW YORK MONEY RATES, NEW YORK, May 12.—Call money, steady; high, 3%; low, 3%: ruling rate, 3% closing bid, 3%; offered at %; last loan, 3%; call loans against 1.00a1.50. | New | BY WILLIAM F. HEFFERNAN, Special Dispatch to The Sta: NEW YORK, May 12.—A sharp break in the oil stocks today unsettled other parts of the curb market and lower prices were the rule. An_accumulation of selling orders following Saturday's crude ofl cuts was responsible for the early drop of from 1 to 3 points further in the Standard issues and sympathetic is- sues in independent shares. Standard of Indiana was heavily sold around 563% and subsequently broke through this figure. Lo: of a point or more occurred in Imperial of Canada, Standard of New York, Kentucky and Ohio Oil. Magnolia Petroleum was an excep- tion and recovered 8 points of the 11 points loss last week. Violent fluctuations took place in the high- priced Standard of Ohio, carrying it 8 points below Saturday's final and 1% points under the previous low for the year. United States Steel tonnage figures for April had a depressing effect upon sentiment toward industrial stocks. Lehigh Power secugities lost a point on_the first sale. Selling of Glen Alden Coal shures late last week was atttributed to profit-taking by those back of the recent rise to 100.° These reallzing sales continued in the first half session. Then the stock rebounded two points to 98, Expectations are that the dir- ectors might increase the disburse- ments. NEW YORK, May 12.—Following is 2n official list of bonds and stocks traded in on the New York Curb Market today: BONDS, High. Close. 4 1023 1087, 94 8 1 93 & Anaconda 10155 Anglo Am Oi Tids.. 10215 Antilla Sigar 3 98 Sim Tldw Detroit Edison G, Dunlop T & Rub 3 Duq L Pit 3tx B wi 1001, Federal i 0515 Win L Power Lig Manitoba MSP & Morris & ( Leather Penn Pow & Lt Phila E Phil Pet 71 Fub 8 Pure Ofl ¢ 1011 100 1063 9415 ‘ni Ry of Hav Vacuum ' Oil Rep of Peru &s.. oivay & Co fs Ms B 91 wise Govt Sls.... 97l Swiss Gove 5s. i U 'S of Mex 4s'cf dp 30 Sales STANDARD OIL ISSUES. in units 1400 Anglo-Am_0il 700 Atlantic Lobos 10 Buckese P L.. 100 Chesebr Mfg nw wi 200 Ches Mfz new B wi 700 Chesebr Mfg U R 30 Cumberland P L... 10 Fureka P L...... 25 Gal Sig Ofl....... 900 Humble 0 & R new 20 Tilinois P I 565 Imp 0il of 40 Indiana P L. 3600 Intern Pet ¢ Magnolia Pet 170 Northern P L. 50 Southern P 18000 S O _Indian: Sales in bundreds. 1 Ark Nat G Washington Stock Exchange. SALES. Washington Gas 6 '33—$500 at 101%. ital Traction 55—3$500 at 97%. Capital Traction Co.—10 at 93%, 10 at 98% Washington Itws. & Elec. ptd=5 at 74, 3 at 74. National Mortzage and Investment pfd.—50 at 8%, 50 at 8% AFTER CALL. Georgetown Gas 55—$2.000 at 87%. Washington Rwy. & Elec. pfd.—10 at 74. National Mortgage and Investment pfd.—40 at 5% ington Gas 55—$500 at 95%. peake and Potomac Tel. 55—$2,000 at shington Gas Light—2 at 48, Capital Traction Co.—5 at 93%. Money—Call loans, 5 and 6 per cent. BONDS. Bid and Asked Prices. . PUBLIC UTILITY. American Tel. & Telga. 48 American Tel. & Teiga. 43%s. Am. Tel. & Tel. ctl. tr. 5 Am. Tel. & Tel. conv. 6s. Anacostia & Potomac guar. Anacostia & Potomae guar. €. & P. Telephone bs, €. & P! Telephone of Va. 5s.. Capital Traction R. R. 58. Georgetown Gas 1st & Metropolitan it Elec. Pow. g. m. & ref. 7s. Alex. & Mt. Ver. 5s. MISCELLANEOUS. D. C. Paper Mfg. 6s. Riggs Realty o5 (long). Riggs Realty 5s (short).. Southern BIdg. 6748. Wash. Mkt. Cold Storage 5a.. Wardman Park Hotel 6s...... STOCKS. PUBLIC UTILITY. American Tel. & Telga. Capital Traction Washington Capital Columbia Commereial . District National Bank of Washington. A TRUST COMPANY. American Security & Trust. t SAVINGS BANK. Commerce and Savings. Fast Wa Security TUnited States. ‘Washington Mechauics’ FIRE INSURANCI Firemen's. National Unio: TITLE INSURANCE. Columbia _Title. Real Estate Title. MISCELLANEOUS. D. C. Paper pfd...... Merchants’ Transfer & Storage. Mergenthaler Linot; National Mtge. & Invest. pf 01a Dutch Market com Old Duteh Market ptd. acceptances, 3% ; time loans, easy. mixed collateral, sixty-ninety days, four-stx months, 43: prime commer- '<isl papors, 1l to 4%. Lanston Monotype. Security Storage. Washington Ma; Yellow Cab. 5 Carib Synd 4 ) 23 Cities Nervice 13 1401 140 i¢ erv pf. % 7% 73'2 1 Cit Se $1.000 Cit Serv C 00 Cit Serv scrip. 1 Creole Synd . 10 Brgiveers Pe 18 Guit Ol of P 2 Gulf § O&R M| Huéson Oil . Kirby Pet 2 Lago Pet . Livingston Pet 2 Marland Mex OIl . Mount Prod 3 Mount Gulf Mutual Oil voi ¢ New Bdfora 0il w Mex Land. o Bea Pennock 01l Red Bank Oil new Roy Cauad 0 & R BunSen BRESELR. Celluloid Co .. Chie Nip new Wi Chi Nip B tr ow wi @ 3 EEE et B il Durant Mot . u Pont Motors 3 Hazeltine Corp wi. Hesden Chem.... . Hudson & Man R B Hudson Co pfd... Kresge Dept 3 Lehigh Power Se 4 Lehigh Val Coal. Leh V Coal new Midvale Co at Tea Col...l Y Co ptd... 5 Radio Corp ....... Radio Corp pfd. . 2 Reo Mot ..... Richmond_‘Rad Rickenb Mot 8o C & I new... Southern Cal Edis Stutz Motor Swift & Co.... Tenn EI Pow 20d pt % Tobacco Prod Exp. Todd Ship -.. U S Lt & Heat... Ward Bak Cor A wi White It 8p new wi 3 Yel Taxi Corp N ¥ MINING. Black Osk Gild Mos .68 Butte Western .. . Cortez Silver Cresson _Gold Iron Blossom 2 2y Copper Corp w Jersey Zinc. Ohio Copper. Plymouth Lead. Rocky Mount 8 K.. Rocky Mnt § R pfd. oREER o 8BS, 5R FEF FOF United Eastern ... United Verde Ext.. Walker Mining Wendea Copper ... 10 Wett Lorrain Siiver 10 West Utah COTTON MERCHANTS IN ANNUAL SESSION Atlantic Association Assembles in Greenville, S. C., for First General Convention. By the Associated Press. GREENVILLE, S. C,, May 12.—The first annual convention of the At- lantic Cotton Association opened here today with 100 of the leading cotton merchants and brokers of the south in attendance. Addresses of welcome were made by R. F. Watson, mayor of Greenville, and by W. P. Conyers, president of the chamber of com- merce, and were responded to by W. J. Weil of Montgomery, Ala, vice president of the association. Presi- dent F. M. Inman of Atlanta deliv- cred an address and after a short business session the meeting ad- journed for lunch. Mr. Inman traced the birth and growth of the association; explained its purposes as a protective organiza- tion destined to further the interests of cotton shippers; testified to the 400 already resulting In the equal- izing of certain conditions, and an- nounced that, four months from fits birth, the association already num- bers 110 members and had an efficient organization functioning to the best of its ability. The afternoon session was taken up with addresses by Arthur W. Palmer of the Department of Agriculture on “Universal _Standfrd Application, Domestic and Foreign Commerce" and “American_Cotton Shippers' Associa- tion,” by R. C. Dickerson. A banquet will be held at 8.o'clock tonight. BAR SILVER QUOTATIONS. NEW YORK, May 12.—Bar silver, 653 ; Mexican dollars, 49%. LONDON, May 12.—Bar _silver, 335%4 per ounce. Money 1% per cent. Discount Rates—Short bills 3%a3 per cent. Three months bills 3a3# per cent. NEW YORK DAIRY MARKET. NEW YORK, May 12—Butter—Firm receipts, 4,796; creamery, higher than extras, 40%adl; creamery, extras (92 score), 40; do, firsts (88to91 score) 38%a39%: packing stock, current make, No. 2, 28. Eggs—Firm: receipts, 21,679. Fresh gathered, extra firsts, regular pack- ed, 26%a27; do storage packed, 27a 28; fresh gathered, first: regular packed 25a26; do storage packed, 26%a27frésh gathered seconds and poorer, 23%a24%. Nearby hennery white,' closely seiected extras, 32a33. Nearyby and nearby western hennery whites, firsts to average extras, 27 a31 nearby hennery browns extras, 30a31; Pacific coast whites, extras, 34a34%; do firsts to extra firsts, '29a32. Cheese firm, recelpts, 46,473 pound: State, whole milk, flats, fresh fancy. AUSTRALIA TO FOSTER COTTON PRODUCTION Plant Breeding, Seed Selection and Research Work Preliminary to Pro- spective Wholesale Cultivation. By the Associated Press. LONDON, May 12—“We are going to make Australia the greatest cotton- Erowing country,” said G. F. Pearce, commonwealth ‘home minister, upon arriving at Sydney, New South' Wales, to preside over a conference of the ministers of agriculture of all the states meeting there for the purpose of co-ordinating efforts throughout the country in connection with the cotton industry, says a dispatch to the Daily Mail. The_aim of the conference, which ‘opened yesterday, is to evolve a com- prehensive scheme of plant breeding, seed selection and research work re- garding disease and pests, and the home minister, emphasizing the need for thoroughness, declared: “If our cotton is to win the world’s markets it must be because its fine quality gains for it the same reputation we have won far our marine wool.” The Mail reports that a loan of £20,000,000, backed by the British and Australlan governments, to assist emi- Egration to Australia, is contemplated. WOOL MODERATELY ACTIVE. BOSTON, May 12 (Special).—Moder- ately active trading marked the open- ing of the new week in the Summer street raw wool markets today. Scoured and pulled wools were the most in demand. Greater activity in the western wool country now is pre- dicted, the sale of the Jericho pull at 42 cents a pound having established, to an extent, the price basis for the coming season. We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street First Mortgage Loans| Lowest Rates of Interest and C(vmmlsnnn.‘ Prompt Action | Thomas J. Fisher & Company, Inc. 738 15th Street = Interests—— demand that your sav- ings be placed where they will earn the maxi- mum consistent with absolute safety. These conditions are ideally fulfilled in our A = First Mortgage Investments $100—$500—$1,000 1416 K Street Main 617 SPECIAL DEPT. FOR WOMEN TRAVELERS' CHECKS 3% PAID ON SAVINGS = %, |1 l!!I]:!!! niidn OLDEST National Bank in the District of Columbia ment is: “Can safe? ” Securing each | Joseph 1. Weller MoRo L LI i oE s National Metropolitan Bank 15th St., Opposite U. S. Treasury “NOTICE” We have available, subject to prior sale, some very choice first mortgages—secured on nicely selected northwest properties. socer T o in amounts of $4.000 up; de- nominations of $100 up can b secured on a partial payment plan. Send for Booklet on “First Mortgage Buying" CHAS. D. SAGER Loan Dept. 924 14th St. N.W. Wilkins Bldg. 1512-14 H St. 5 - Room Suite Private Corridor and Tollet Light and sunshine—high, quiet—above the nofse—in the center of Washing- ton's busy financial center. FOR PARTICULARS APPLY Randall H. Hagner & Co. 1207 Conn. Ave. Phone Main 9700 Money to Loan Secared by first deed of trust on resl estate. Prevailing interest and commission. 420 Wash. L. & Trust Bidg EQUITABLE Co-Operative Building Association Organized 1879 44th YEAR COMPLETED .$4,755,170.52 $1,248,320.98 Systematic Savings —Each pay day lay aside part our salary at the Equitable. It is a method of saving that will prove most effective. Subscription for the 86th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. Asnets Surplas . Bolts, Bars and Locks —alone-do not make for safety in a finan- cial institution. It's the directing force of SOUND MANAGE MENT that is the de- positor’s best protec- tion. The policies of The Metropolitan repre- sent the experience of over a century and insure the highest standard of safety and service. —110 Years Old SAFETY-- The first question asked by the sensible business man or woman in considering an invest- I be sure it’s one of these 6}4% First Mortgage Invest- Secured by Improved Real Estate In Washington Worth Double The Amount Of The Loan— Interest Rates Today 6% and 7%— Denominations of . $100 to $1,000— Partial Payments Received— Mortgage Investment Dept. HANNOI INC. 713 and 715 14th Main 2345 WA Constructio ment Notes is a much greater value in constantly enhancing ing Washington realty. More- over, the special protective fea- tures thrown around this secur- ity constitute an additional war- ranty of absolute safety to every individual owner of these notes. Added 8 the property security s the unqualified recommendation of the INC. MAN mpany Main 3530 $10,761.76 At 619 $10 a month will grow to $1,661.07 in 10 years $4,803.07 in 20 years FINANCIAL Where H Street Crosses at 17th Street Store and Shop Leases Being Made Facts—A Big Transfer Corner All car lines and busses convenient at this point —more than 12 largest Government and Public Buildings within 5 minutes’ walk—nearly 60% Gov- ernment workers pass this point twice daily. We want you to make your own survey as to the possibilities of this location—Then see us—as to plans and reservation for space—at once! FOR PARTICULARS APPLY Randall H. Hagner & Co. 1207 Conn. Ave. St NW. Phone Main 9700 Don’t Overlook the Possibilities of $10 a Month EN DOLLARS is not a large amount. Even for a man or woman of moderate means, saving that much each month involves but little self-denial. Yet with $10 a month you can accomplish much. By following a proven profitable plan that is now being used by hundreds of men and women in Washington you can, during your productive years, build up a comfortable for- tune. Let us send you our free booklet, “How to Build an Independent Income,” describing the simple details of this plan and explaining our special method of compounding interest from grndsbl/z% and 7% First Mortgage Coupon in 30 years $22,060.64 in 40 years With larger monthly sav- ings you can accomplish The F. H. SMITH COMPANY Founded 1873 FIRST MORTGAGES EXCLUSIVELY THS P. X. SMITE COMPANY, Smith Building, 815 Fifteenth Street N.W. Witheut ebligation : o . obligation on my part, plesse sesd me your fres posklet, proportionately greater results. YOU HEAR IT EVERY DAY:— “If you had owned a share of Ford stock— . you would be a rich man today.” The salesman will tell you that the company he is representing is similar, and that possibly those who buy the stock now may reap similar benefits in the days to come. But you must buy now be- fore it is put on the market for the general public, for it is sure to rise immediately. But when you discovered that you didn’t own another Ford in- dustry and the stock didn’t go up, were you surprised when your banker told you that that was a favorite method of stock-selling, and lots of people lost money purchasing such securities? And did you decide to just charge your loss to experience and say nothing more about it? We make no absurd claims about our first mortgages, nor do we compare them to any other security. They stand on their own merit, and are approved by a company whose clients have never lost a dollar through them. Why should you want to take chances, then, when known facts are at your disposal? Swartzell, Rheem & Hensey Co. 727 15th Street Northwest §5Years Without LosstoAnlnvestor * e G N T ebecatin At