Evening Star Newspaper, June 2, 1924, Page 29

FINANCIAL. NEW YORK CURB MARKET FIRM MARKET SHOWN FOR BUTTER AND EGGS Meat Demand Good, With Steady Prices Reported by D. C. Wholesalers. (BRISK TRADE NOTED TODAY Report on Vegetables by U. S. De- partment Bureau. Butter was up a cent on the Washing- ton wholesale market today. The report- A prices for the various grades were 42 10 48 cents for best qualities. Eggs o were firm, select, candled, fresh, rby bringing about 29 cents with Job- ers The meat market was good. Lambs, spring. were reported at 30 to 32: veal, 17 to 18, and good beef, 1715 to 18 cents. pork loins were quoted at 23 to cents; fresh hams, 17 to 18: shoul- rs, 11 'to 12; smoked hams, 18 to 20, d ‘bacon, 16 'to 18, The commission market in pouitry lucts will not get under way until to- Tow. egetables as reported by the Depart- ¢ Agriculture follow : Supplies moderate; demand te; market dull; barrels, Mary- lund. Virginia and West Virginia, No. 1. Yellow Newtons and Winesaps, 2% inches up, 4.50a5.00: 2'4 inche +00; Ben Davls, 213 inches up, 2.75; 2.50a1.75. market steady South Carolina and Virginia, Norfolk section, barrel crates; pointed type mostly, 2.00. Cantaloupes—Suppiies light, demand moderate, market steady; California, | Imperial ' Valley Salmon Tints. 4bs, mostly 7.00; ponys, 453 and mostly Lettuce—Supplies light, demand good for good sto Smarket steady: Norfolk section, peck hampers, big Boston type, poo: to ordinary quality and condition, 0.25 21.00; Iceberg type, 1.75. Onlons, new “—Supplies ~moderate, demand market slightly weaker: Texas. ard crates Yellow Bermudas. 1.85a2.00 Peaches—Supplies very i demand moderate. market : South Carolina, sixes Uneedas, Potatoes — Supplies new stock, demand moderate. market weaker: Florida, double-head harrels, Spaulding_Rose, U. 8. 1. .00; South Carolina, clath top slat_and ‘stave barrels Irish Cobblers, 10 S No. 1, mostly 5.00; few higher: Supplies Light, Demand Light. strawberries—Supplies “light; de- mand light; market firm; North Caro- lina -quart crates, Misslonarys, ¢air'to ordinary quality and condition 3.50: Virginia, Norfolk \nd 60 quart crates. Missions 17217, few wasty low at 10c per quart, Tomatoes—Supplles ifberal; demand moderate; market fairly steady: Flor- ripes and turning, wrapped, count, 4.00a4.50. mostly oice count, mostly 3.00: fair to ¢ ‘and_condition, 1.00a Supplies iiberal: moderate: market fairly South Carolina, bushal hamp- 1.23a2.00, mostly 1.502.00; 5-peck hampers. 'k hampers, 15 0. Norfolk hampers, large pods, some poor condition, 1.5 . Egs- plant—Supplies light; demand moder- rket steady;' Florida, pepper medium_ size. best. 4.00: fair 0. Peppers—Supplies slow; market fairl fair quality, 5-peck u rand 1ight ; are bushel Carolina, xquare bushel i 0a2.50, few 3.00. Arrivals Since Thoraday's Report. Apples, 1 Virginia freight, 2 broken end 1 unbroken cars on track. Bananas, 1 Baltimore, Md., freight, 1 broken car on track. Beets, 125 baskets and 256 crates North Carolina__express, baskets and T1 crates Virginia boat. Cabbage, 282 crates and 96 baskets Virginta boat, 4 broken cars on track. \Cantaloupes, 1 broken car on track. « 1 South Carolina freight, 414 South Carolina, 200 baskets North Carolina express, 8 baskets Vir- ria boat, 2 unbroken cars on track. uliflower, askets Virginia hoat. Celery, 5 'barrels Louisiana express. Sweet corn, 25 quarts Florida and 10 Varrels Loufsiana express. Cucumbers, Florida freight. 41 boxes and 227 rrates South Carolina, 115 crates Flor- 206 crates Virginia boat, unbroken car on track. Eggplant, 250 crates Florida express. Grapefruit, 1 Florida freight, 1 broken and 1 u hroken ears on track. Lettuce, South Carolina freight, 700 crates Vir- ginia boat, 2 broken cars on track. Mixed vegetables—1 South 1 unbroken broken Le s broken and n on track. Onions—1 California, 4 freight; 6 unbroken cars on frack. Oranges—5 Florida, 4 Califor- nia, freight; 5 en ‘ca ¢ Louisiana express. s Virginia; 665 baskets, South Carolin 83 baskets, North Carolina, express: 2.081 baskets, Virginia boat. Pep- ners—166 express. Totatoes—17 South Carolina: 7 Mich- an; 1 Florida, freight; 120 b 5 express: 59 bbls. Virginia broken and 16 unbroken cars Florida, wherries — 2 ght; 1,300 crates, North Carolina: ates, South Carolina, express: 522 tes Virginia boat. String beans— 712 Florid: 1 550 North Cai baskets express. olina; 5 Loulsiana, freight: 280 Tomatoes—6 Florida crates, Florida, express; 11 broken and 2 unbroken cars on track. Tur- nips—85 baskets, North Carolina, ex- Watermelons — 1 Florida, freight; 1 broken car on track. aches—2 crates, South Carolina, ex- ess. Blackberries—125 crates, South lina, express. . e FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal = Selling checks todsy. London, pound Montreal. dollar Taris, fran Hrussels, franc terlin, mark 1y the Associated Pre NEW YORK, June 2.—Forelgn ex- changes irregular. Quotations (in Tnited States dollars): Great Britain, demand, 4.31%: cables, 4.31%: sixty- day bills on banks, 4.28%. France, demand, cabies, .0601. Italy, demand, cables, .0434. Bel: gium, demand., .0439; cables, .0440. Germany, demand (per trillion), 23%. Holland, and, .3733. Norway, de- 5 demand, 2649, 1680. Switzer- . demand, Spain, demand, 3 Greece, demand, .0182, Poland, nand, .00000012. Czechoslovakia, 1, 02921z, Jugosiavia, demand, Austria, demand. .000014% nia, demand, .00433.° Arge demand, .3275. ~Brazii, demand, .1106. Tokio, demand, 40%. Mon- treal, 98%. NEW YORK DRY GOODS. EW YORK, June 2 (Special).— o advent of June brought little iange into the cotton goods markets »day. Trading was quiet, with juotations for the most part un- changed. Print cloth quotations were 41, cents for 64 by 60 and 103 cents for 68 by 72, the latter a reduction of an % of a cent. Raw silks were et at unchanged levels. Recelved by Private Wire BY WILLFAM F. HEFFERNAN. Special Diapatch to The Star. NEW YORK, June 2.—An unusually heavy demand for public utilities overshadowed everything else in the curb market today. This buying is the result of better appreciation of the earning power of these companies and of prospects of Increased dlvidends. Lehigh Power securities and Com- monwealth Power were outstanding features, both advancing sharply to new high prices on a large turnover. The former at 67% was up more than six points from the Thursday final, while the latter crossed §9 for a gain of five points. On May 1 Common- wealth distributed an initial dividend of 8] a share. There appears to be doubt that disbursements in the NEW. YORK, June 2.—Following ls an_official list of bonds and stocks traded in on the New York Curb Market today: Sales In thousands, 13 Alum 11 Am G 4 Am Sumat To 22 Am Rolling Mills 8 Am Thread Co 13 Anacondn 6n ....... Am 0il 7ign Low. Close. 1027 9413 Dualop T & Rub T4 Duq L Pit 54 B Federal 8ug 8 g Bs... Hood Rubber Tutern Match 6lg8 “oppar Morris & Co Tlys t Leather 8a.. ew Orl Pul Ser 8t_Pow M 6! T T BP ST L -1 YL P - S vilor FOREIGN BONDS. Itallan Pow Olas... 85% ¢ Neth dudix 98 45 Sta 2013 0 1215 8z B 2 4 Swiss Govt Sig6.... 2 Bwiss Govt On 94 STANDARD OIL ISSUE: 200 Chesebh Mt new wi 80T 10 Gal Sig Ol ....... 384 800 Humble O & R pew %010 P L. 10 Ind P L 10 Prarie Ol 470 Prairie P L. 130 South Penn 0il. . 2800 8 O Ind . Swan & T 700 Vacoum Ofl new... Sales INDEPENDENT OIL STOCKS. in hundred Creole 8ynd . 10 Engineers Pet ..... ! 2 Gilliland ON ¥y € ¢ 4 1 of Pa Penn B 1 Pennock Oil 8 Royal Canad O 'k Cons. k Prod. 1 Sapulpa Refin 40 Seaboard 01l 1 Buperior Oil Wi 2 Am Blec 2 Am G & Fi 23 8 2RS35 FERES SIEEEF & Co 1 Brit-Am Tob Co Reg H P Corp W 1 Cent fron Pipe- Com Paw Cor. % Doeh ‘Dl C G 7 Dubilier © & Radio. S 28 348, 166 WALL STREET BRIEFS. By the Associated Press. 5 Net operating income of $7.118,824 reported by the Pennsylvania railroad for April decreased $908.166 from the same month last year, but the total of $25702,006 for the first four months of 1924 shows a galn of $656.- 920 over the corresponding period of 1923. Gross revenues in the four months dropped to $226,814,008 from $241,076,727 a year ago. Dividend accumulations on the pre- ferred stock of the Midland Steel Prdoucts Company have been cleared up through the declaration of a dividend of $4 on the preferred and $2 on the common, payable June 17 to stock of record June 9. Regular uarterly dividends of ‘$2 on the p: erved and on the common also were declared. The Greene Cananea Copper Com- pany reduced its deficit to $155.932 in 1923, compared with a deficit of 6 in 1922, Gross earnings for ar amounted to $6,497,317, $2,494,130 the year before. Creation of an economic council to advise and assist the minister of com- merce in the development of French trade and the co-ordination of French economic_activities has been decided by the French government, accord- ing to the Bankers' Trust Company of New York, and aiming at the adjust- ment _of all commercial treaties in the interest of Fremch metropolitan and colonial ~production. enforcing & competitive program for all the countries and territories under the French flag. Surplus of $308,884 after taxes and charges is reported by the New York, Chicago and St. Louis for April, and for the four months of 1924, $1,608,299, With the merger_of Public Service Electric Company, Public Service Gas Company and United Electric Com- pany of New Jersey, the new com- pany, known as Public Service Elec- tric and Gas Company. will have more customers, it was said, than any other single operating company engaged in the gas and electric business, with a total on May 1 of 1,065,000 customera. - ‘o ativ. Direct to The Star Office future will be substantially in excess of the initlal payment. The demand for Hudson Company preferred and Hudson and Manhattan common _contin; with _renewed vigor. The holding company's pre- ferred stock at 34, was at & new high at 213 points above Thursday's final, while Hudson and Manhattan crossed 20. Reports were current that a pool headed by a strong banking house was back of the buying. Todd Shipyard, seiling ex $1.50 dividend, was a half point despite strength In stocks repr: ing the lnlgvln‘ industry traded in on the big board. Atlantic Guif and West Indles 5 per font bonds moved up in sympathy with buying in the stoc) Little could be sald of the mov. ment In the oils, and the market, mos of the session, displayed nervousness. 5 NY Tele Co 40 Radio Con k_Hughes 10 Tonopah Divide 5 Tonopah Extens 8 United _Kastern.. . 2 United Verde Ext. 0 U 8 Cor 5:30 p.m. Today —for the conven- ience of our many Savings Department patror {1 As little as a single dollar will enroll you among our thrift workers. National COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY SHREVEPORT, June 2.—Flush pro- duction in Smackover field last week brought the daily average of Louisi- ana and Arkansas oll production to another new high mark of 211,428 barrels, an increase of 2,485 barrel Forty-four new wells added 10,138 barrels inftial production. MINNEAPOLIS, June 2.—The people of Minnesota used 230,000,000 gallons of petroleum product which 186,000,000 w: [ or seventy-eight gallons per capita. The :1:":“3‘"‘ cost of this to each was JOPLIN, Mo., June 2.—Buyers and producers of zinc ore engaging in a tug of war and the market is irregular. Lea suffered ight setback. Producers have t backs against the wall in opposition to fu ther zinc price reduction, claiming mines cannot operate profitably below present figures, which have not enough lead content to offset the loss in zinc. Shipments are off and several szinc mines have closed. DENVER, Jun —Estimates place Colorado’s winter wheat crop at 27,- 142,000 bushels, or about twice the 1923 crop. . Abandonment was only 4.5 per cent, against a flve-year average of 9.9, Fall rye promises to yleld $04,000 busi els, compared with 875,000 in 1923, and hay, 3,039,000 tons, compared with 2,- 789,000 in 1923, HOUSTON, June 2—A local steam- Ship agency announces that it has booked 5,000,000 feet of lumber to be moved from the Pacific Coast ports to Houston by way of the Panama Canal. AKRON, Ohio, June 2.—Conditions in the tire plants here are better than was expected, with output running about 100,000 tires & day, which Is 10,000 above the eary predictions. A price cut would not_be unexpected in view of the drop in rubber and fabric prices. Develop- ment of balloon tires has caused a de- mand for new molds, and makers of this equipment are busy. ATLANTA, June 2.—Signs of renewed actlvity in the textile Jndustry are mak- ing themselves evident. The Lagrange, Ga., plants are resuming on a full-time schedule this week, while three large mills at Greenville, §. C.. have an- nounced resumption of fyll-time opert tions. KANSAS CITY. June 2.—Although the advance in the price of hides has been siight and the general level changed, packer hides are sold out (T (IR TIT§ T} -‘ '- | 3% Paid on Savings Metropolitan Bank OLDEST National Bank in the City 15th St.,, Opposite U. S. Treasury For Your Convenience-- These 6'42% First Mortgage Investment Notes are issued in a wide range of amounts and may be purchased by moder- ate monthly payments. Each Note bears the recommendation of the Wardman Construction Company. Denominations as low as $100 WA Constructio INC. MAN rany Be Thrifty Today--- Financially Independent Tomorrow THOSE who are thrifty today will be financially independ- ent tomorrow. It is only through a systematic plan of saving—putting aside so much each month—that you can build up a comfortable sum; one that will be the foundation of a future nest-egg. ® Swartzell, Rheem & Hensey Com- pany First Mortgage Notes offer an excellent opportunity to realize just such a sum quickly and safely. Our long and ungquestionable rec- ord of 55 years without loss to an in- vestor should satisfy you of the safe this pany. of the Mortgages offered by Write, call or telephone for M.&m Swartzell, Rheem & Hensey Co. 727 15th Street N. W, 55 Years Withoat Loss to an Investor: closely, the leather situation is more hopeful, and demand is expected to im- prove, < EASTON. Pa., June 2.—Reports from northwestern Pennsylvania siate quar- ries indicate demand is better than it was a month ago, but still is below that of last yea es have shown little and stocks on hand are mod- te. Quarries are operating 83 per cent of capacit: FIRST MORTGAGES FOR SALE THE TYPE OF SECURITY CONSERVATIVE IN- VESTORS BUY IN DENOMINATIONS TO SUIT PURCHASERS JAMES F. SHEA 643 Louisiana Ave. N.V. Co-Operative Building Association Orgx=‘vad 1579 44th YEAR COMPLETED $4,755,170.53 $1,345.330.98 The Best Way to Save is in a systematic fashion. Lt us tell you how. Subseription for the 86th Issue of Stock Belag Reeeived Shares, $2.50 Per Month' EQUITABLE BUILDING 915 F ST. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Secy. “WHEN” buying our FIRST MORTGAGE % INVESTMENTS You are assured due precaution has been taken to safeguard your interest. A personal inspection and conservative valuation are two of our strict requirements. Prompt and courtecous service fol- low the purchaxe of our securities. Notes now on hand in amounts of $100 up. Send for Booklet CHAS. D. SAGER Lean De ment 3 M. 37 38 924 14th St. N.W. Mr. 0'Donmell, Manager Mr. Hughes, Assist. New Issue Valuation. $25,000. H. M. Crandall, Pres. Crandall’s Theaters Frank V. Killian..............Capitalist Joshua Evans, Jr., ! Vice Pres. The Riggs National Bank Wilton J. Lambert. ....Attorney at Law Joseph P. Morgan, Gen. Mgr. Crandall’s Theaters veurv..April 15, 1926 First Mortgage Loans Lowest Rates of Interest and Commission. Prompt Action Thomas J. Fisher & Company, Inc. 738 15th Strest Money}ol.oan Secured by deed of trmat on real estats. Prevalling interest and com: misslon. Joseph I. Weller $2 Web L & Tramt YOUR SAVINGS In Our FIRST MORTGAGES “The Safest Security on Earth” 7 % e Denominations $100 to $10,000 Nortluveot Residential and Business Property Only MRS CALRITZ: CQ 1416 K Street N.W. Mala 617 Are You About To Make An Investment? Read This! YOU want two things—security and the highest interest rate that can be combined iith protection. Properly safeguarded FIRST MORTGAGE REAL ESTATE NOTES are investments of this character. These notes are secured by the foundation of all wealth—land, and, in addition, the improvements and possible earnings as well. Many opportunities (?) are offered by promoters of “wild cat” schemes—sometimes they may be a dreamer’s vision, sometimes the enthusiasm generated from an overesti- mated proposition, but oftentimes they are deliberate frauds. The safe way to invest your money is through such a house as ours, where NOT A SINGLE DOLLAR HAS BEEN LOST FOR AN INVESTOR since our business as established. THE FIRST MORTGAGE NOTES we are offering today 62% and 7% —and are ABSOLUTELY SAFE. Seo us at once about your needs. Don't he satisfied with a mere savings rate of interest, but MAKE YOUR MOM PRODUCE a liberal return with security. MORTGAGE INVESTMENT DEPARTMENT 713 and 715 14th Street N.W. Telephone Main 2345 Telephone Main 2348 Telephone Main 2346 Telephone Main 2349 Telephone Main 2347 CHOOSE YOUR INVESTMENTS WITH CARE Members: Washington Real Estate Board and The National Association of Real Estate Boards. NSURED MORTGAGE BONDS: $600,000 First Mortgage 67 Serial Gold Bonds Crandall’s Tivoli Theater, inc. (Office, Store and Theater Building) Washington, D. C. Principal and interest payable at The Riggs National Bank, Washington, D. C, and Union Trust Company of Maryland, Baltimore, Md. The Riggs National Bank and Joshua Evans, Wash- ington, D. C., Co-Trustees. District of Columbia intangible tax or any state, county or city taxes up to 5%; mifls refunded when claimed within three months by the Mortgage Security Corporation of America. These bonds are callable at any time after the third year at par plus a premium of one-quarter of 1 per cent per year or fraction thereof for the unexpired term of bond. Property Mortgaged. The Crandall’s Tivoli Office, Store and Theater Building first mortgage 6 per cent serial gold bonds is a direct closed first mortgage on the newly completed building and the land on which it is built, at Fourteenth Street and Park Road. Washington, D. C. This con- stitutes one of the most modern fireproof and luxuriously appointed theaters in the Capital City ideal in its location. The building, in addition to the theater proper, contains desirable offices and stores, which contribute materially to the income of the propery. Title Guaranteed. The title is guaranteed by-The Real Estate Title & Insurance Company and the Columbia Title & Insurance Company, both of Washington, D. C. Based on three independent appraisals, the land and improvements are valued at more than $1,100,000, or nearly twice the amount of this bond issue. . Management. The bonds are the direct obligation of Crandall’s Tivoli Theater, Inc.. operated under the able management of Mr. Harry M. Crandall, and associated with him a representative board of directors. . Board of Directors of Crandall’s Tivoli Theater, Inc. W. Wallace Chiswell, ¥ Pres. People’s Mut. Benefit Ins. Co. Fritz D. Hoffman, Comptroller Crandall’s Theaters Avon M. Nevius, Vice Pres, The Riggs National Bank J. Elvans Mayfield, Secretary Nat. Elec. Supply Co. Capitalist Further Safeguard. As an additional safeguard to the investor a sufficient portion of the earnings must be deposited by the borrowing corporation with The Riggs National Bank to meet inter- est, principal, taxes and insurance as they fall due. These payments are guaranteed for the borrow- ing corporation by The Massachusetts Bonding and Insurance Company to the extent of $200,000. The Bonds Guaranteed. The bonds are guaranteed, principal and interest by the House of Issue— The Mortgage Security Corporation of America—with an unconditional pledge of all its re- sources. The guarantee is endorsed on each bond sold to the investor. The Guaranty Insured. The bonds, furthermore, bear the independent, unconditional guarantee by endorsement on each bond of the National Surcty Company,.the largest surety company in the world, and which guarantee is backed by all its resources, over $31,000,000. Thus principal and interest of this bond issue is insured against all contingencies. Details. The bonds are dated April 15, 1924, and mature serially April 15, 1926, to April 15, 1929, in- clusive. Denominations, $500 and $1,000. Legal details subject to approval o Lambert for Crandall’s Tivoli Theater, Inc., and Messrs. Leckie, Cox gage Security Corporation of America. Mr. Wilton J. Sherier, for the Mort- MATURITIES. April 15, 1928 ... April 15, 1927 .April 15, 1929 Price 100 and Interest to Yield 6% STEIN Bros. & BOYCE - Investment Bankers Since 1871 Woodward Building Phone Main 1079 ‘Washington The statements presented above, While 84t guarantesd, are obiained from sources which we, believe to g Teliable. 3