Evening Star Newspaper, June 18, 1924, Page 29

FINANCIAL. . HEN RECEIPTS HEAVY AT CENTER MARKET Rather Light Demand Causes Low- er Prices in Today's Whole- sale Dealing. CALF PRICES ARE LOWER Meat Dealers Guard Against Hot Weather—Vegetable Review. Large receipts in hens and chickens Yesterday afternoon and this morning Weakened the commission market in this product today. Dealers were abundantly supplied with the fowl. which were not in great demand. The price was trimmed a cent or two, and was understood that good hens uld be hought for 24 cents. or. in unusual cases, even lower. No exact price had been “settled.” however. The chicken market was not as seriousiy affected. but merchants had a gooA number on hand with a fair demand The live calf market in stances drifted down to & cents for top choice products. Lambs are en- joying a fair business. as this meat is ‘more weceptable in warm weather, it was pointed out. The egg market, both with com- mission merchants and jobbers, was unchanged. Dealers in meats, Know- ing the effect of warm weather on their products. have supplied their hooks accordingly The Department of Azriculture vegetable report here follows: Apple Suppliex Moderate. Apples—Supplies moderate: demand light: market dull: barrels West Vireinia, Wines; 4.508 boxes, en some in North extr; western, medium (o 1. < Yellow fancy Winesan: Newtons. plies moderate steady: homegrown rels, pointed type Joupes—Supplies heavy: demand mod- erate; market slightly weaker: fornia, Imperial Vailey, Salmon Tints standard marks mostly mostly flats, 1.25: mostly 12 moderate: demand moderate: steady: North Carolina Rirds, 3.50; some £ 250: mall. soft, 2 Uneedas, uncovered a1, 2.00 1.50a 200a 231 Georgia over- ripe, decaved, New Potatoes Firm. Potatoes—Supplies light: old stock demand limited. market steady: Mich- izan. 150-1b. sacks Russet Rurals, U S No. 1.3 25. mostly 3.00 per sack: new demand moderate, market firm: North and South Caro- Tina, cloth top slat barrels, Irish Cob- hiers U, S No. 1, 2.00a3.25. Tomatoes Supplies liberal; demand good, mar- ket fairly steady; Mississippi fours. turning. wrapped, fancy count, 1.00a 115, few 1.25. Watermelons—Sup- plies light: demand limited. market Aull: Florida, bulk. per 100 melons, Tom Watsons, 27 and 28 Ib. average. 75.00280.00, Strawberries—Suppiles moderate: demand moderate, market Steady: home grown. 32-qt. crates, Various varieties, 2.00a4.00, mostly 2302300, String _ beans—Supplies moderate: demand moderate, market firm. Virginia-Norfolk section, 5-peck hampers, greens, best, 2.75a3.00, some fair quality at 2.50; Carolina, bu. hampers, green, 1 herries—Supplies light; de erate, market firm; N Carolina. 32-qt. crates. fair condition, 4.00a4.50. Cars on Track at 8 AM. Today. Bananas—2 unknown freights, 1 un- broken car_on track. Beets—l16 crates Virginia boat. Cabbage—95 crate Nirginia boat. Cantaloupes—$9 Cali- fornia freight, 11 broken and 7 un- broken cars on track. Carrots—123 crates rth Carolina express, 144 baskets Virginia boat. Caulifiower— £ orates, Virginia, boat. Sweet corn— 105 erates, Florida, express. Cucum- bers—36 crates, Virginia, boat. BgE- plant—70 crates, Florida, express. Grapefruit—1 broken and 1 unbroken care on track. Lettuce—137 ~crates Virginia boat. Lemons—1 broken car on track. Onions—1 broken and 2 un- broken cars on track. Oranges—2 California freight, 1 broken and 2 un- broken cars on track. Peas—3 baskets Virginia boat. Peppers—12 Florida express. Potatoes—1 Carolina freight, 203 barrels North Carolina boat broken and 1 un- hroken cars on track ring bean 126 baskets North Carolina. 126 b kets South Carolina, express; 913 baskets, Virginia. hoat. Tomatoes—4¢ Mississippi freight, 62 crates express: 7 broken and 3 unbroken cars on track. Watermelons—i Florida freight: 1 broken and 1 unbroken cars on track. Peaches—-300 crates North Carolina, express: 2 broken and 1 un- broken cars on track. Dewberries—1 express. TOBACCO CASES DROPPED. Federal Trade Commission Finds No *“Price Conspiracy.” crates South The Federal Tr@ie Commission has| the the laint against oducts Corporation. Company of New York Cincinnati Wholesale To- Association of Cincinnati. Chairman Thompson of the commis- ented from the Issuance of issal regarding the Falk Company on the ground of allexed price-fixing conspiracy. The Were charged with “conspiracy (o maintain a resale price system in the gale of tobacco products. 16,000,000 LAND FIRM. Baltimore Men Plan Business Op- erations in Florida. Special Dispatch to The Star. BALTIMORE, June 18.—The Florida Land and Development Company. capi- talized at $16,000,000, has taken out in- corporation papers. The charter fee of $1,020 was the largest recefved this vear by the state tax commission Incorporators are R. Parks Jones, Wwilliam Tyler Spencer and Paul Sny- der, all of Baltimore. Interests a: ciated with the Seaboard Air Line said to be back of the enterprise. CHICAGO LIVE STOCK MARKET. CHICAGO, June 18 (U. S. Depart- ‘ment of Agriculture).—Hogs—Re- ceipts, 21,000 head: generally 10 higher; desirable grades ready sellers: others slow; big packers doing little: hulk good and choice 250 ‘to 350 pound butchers, 7.4 0; top, 7.55: majority desirable to 225 pound Weight. 7.20a7.40: packing sows jargely. 6.40a6.75; better 140 to 150 pound averages, 6.50a7.10: killing bigs steady: bulk good and cholce strong_ weights, 6. Dulk of sales 7.00a740; heay . 7.55: um .2 .50 Fentweehts, 6.16a745; light lghts. 5.85 a7.00; packing hogs, smooth. 6.60a6.85; packing hogs, rough, 6.30a6.50; slaugh- s, 5.2526.25. e R S scsipts, 11,000 head: heavywelght and weighty feed steers mare active; steady to StTOng; year- lings numerous; siow, about steady: eariy top matured steers, 11.00; some weighty Nebraskas held at 11.25; bulk Tod Csteers and yearlings of quality and condition to sell at 8.00a10.23 Post grades fat stock moving: others Dfow: bulls weak to 15c lower: veal- e 35 lower; spots more; few heavy Piogna bulls around 5.00; mostly 4.50 esa Vealers, 9.00 downward; light calyes around $.00; stockers and feed- ers warce; thin fiesh and firm. Receipts, 12.000 head; slow; SheeRely sale lambs oulls weak to 1 sales sheep: good 14.75215.00: fat native Maryland, | demand light: market | Florida | firms | -oull | THE EVENING NEW YORK CURB MARKET i Received by Private Wire BY WILLIAM F. HEFFERNAN. NEW YORK, June 18.—The curb | market displayed a hesitating tend- i""‘f‘.\' throughout the early dealings this morning and the majority of stocks went fractionally lower. Several public utilities were in de- mand again, notably American Light |and Traction common up over two | points, East Penn Electric | and e | NEW YORK, June 18.—Following | is ‘an official 1igt of honds and stocks traded in on the New York Curb| Market today: Salen in thousands 13 Allied Packers 6y 13 Allied Packers sn t Alum 7w 25 | Am Gas & Ele 6 10 Am Rolling Mills 6x 5 Anaconda i i Anglo-Am il atilla Sugar Asso Sim Haw. & W NS BON | Low. Close 1 It Fias Can Nat Ry equip ix o BT S P Childs Co b Raito Tot Thun | Docre & (0 Thas Edison 6a Dunlop T & I Dug Lt P Fod Sugar 6x ‘33 Fisher Body s 26 sher Tody 6 air, Robt 7 Sig ¢ et Libbs. MeN Manitoba Pow Morris & (o New Fub North 8t Pow # North St ¥ Penn Power Phil 5 PRl Pet Pub Serv of X J T wre 0N Co & South Calif 0N Y 0N Y 0N ¥ T 0N Y e n Ol 7s n 0l 6 Swift & Co 5 Tidal ‘Osage 7 o EIL &P T Oil Prod Tn Ry of H Yacaum 01l 3 Web Mills 8las i FOREIGN Italian Power 6iss King of Neth ep of Pora ol & Co 6x & A Thas 106% 0Tty it RONT NN I B0 1w | | < 34 Sales in STANDARD OIL 1S units. 100 Anglo Am On* 100 Humble 0 & R oew %0 Imp Ol of Can 2100 Intl Co Itdl. 1 670 101 187, 1 i, a2y 4215 Vacuum oy o213 INDEPENDENT 011 STOCKS. Barrington 01l 19 3 iz Indian O i Roston Wyo Oil...0 (81 Carib. Syad . CIt ey 1o Sers pfCiE 1 it Serv B $5000 Cit Serv s Washington Stock Exchange. | SALES. Capital Traction 5s—$1.000 at 67, 500 at . Chesapeake and Potomac Telephone s $1,000 at 9%, Washington, Alexandria and Mount 55—1.000 at 30 fat Capital Traction 10_at 9: at 2 Washington Gas Light Waehington Hwy & E 4 at T4k, 5 AU 4%, 5 At A% AFTER CALL. Vernon | rotomac Elec at 108, §4,000 at | at 108 Onpital Traction Co. | Capital Traction (o, 10 10 ar 68 10 ut o4 | National M. & Inv. pfd.—10 at % | Wasnington Rws. & Blec. pfd.—20 at 743 |16 at 75 ‘Washington (s 55—$00 at $1.000 a1 97, $1.000 at 071y Tanston Monotype—20 at T2i Muney—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid. & Telga. 5. 98 A & Telga. tiaa. .. 102 Am. Tel. & Tel ctl. tr. 5s..... 100 Am: Ter % e cony. 6a 11815 Anacostia & Potomac Ss. Ana & Potomac guar. : 1% P Telephone 38 ¢ & P Telephone of V | Capital Traction &R | Grorgetown Gas 1st [ 1st “cons. deb. B FRgit = m. & rer Ver. 5a.... 10 10 at 93, o American Tel merican Tel i | \ | | Metropolitan R Potomar Elec Potomac Bl | Potomac Elee! } Potom Elec. Pow. ~Alex. & Mt Wash., Alex. & Mt Wash | Balt vashington ington Rwy MISCELLANEOU! | D c. paper Mtz 6. | Rigge Rtealty 5% tlongr. Ity 58 (8 Iieg. Bl farket € Wardman Park old § Hotel 6ix STOCKS. UTILITY. | age PUBLIC American Tel. re. ... American Tel. & Teiga Capital Traction o Terminsl Taxi com.. NATIONAL BANK. | Capital Columb: Commercial District Farmezs & Mechanics’ Federal-American Bank Liberty Lincoln National Riggs Second : Natiopal Bank of TRUST COMPANIES. Security & Trust. 1 Trust American (Commerce & Saviogs....... t Washington. . vings & Com. iremen’s Kitiomal Daio TITLE INSURANCE. jumbia Title... %n Estate Title . | MISCELLANEOUS. i Paj prd....... umn.nng‘"'rr.mfu & Storage. 1 Mergenthaler Linotrpe 15 Natl, l!l‘“l. |.nzl. pfd. :: ‘Duteh Market com.... " gl‘g Duteh Market pfd.. 3 !‘ln:‘on =nnowv- azé &3 Becurity Storage.. e anington Market fi 35 Yellow e amesreasen - B i D. C. 7215 Direct to The Star Office Adirondack Power. Commonwealth Power reacted over a point at the start, but hardened later: 1t was an- nounced after the close of business Tuesday that the ragular quarterly dividend of $1.50 on the preferred stock and a dividend of $1.00 on the | common had been declared. Among high-priced speciaities, tional Tea new was exceptiol strong, getting up five points ally It SE O & dson 0l Pet Vet Livingston Mount T'rod Mutual Gil vor ofs New Mex Lund Ohio Kanger e O & r 0l Camn nnock Ol Red Bank O T8 new Am Hawaiiun S Am L & Tract Appalne Fow Ark L & P, Horden & Co n & ( Bkisn Shoe Brit-Amer Brit Am Tob Co reg Candy Prod Cor wi Car Light .. i Contrif Tron Pipe Chi Nip new w rade Pow & o Pow Corp Detroit el i o wi Radio B new 10310 1 & i Soodsoar Tire tGen Mix new Hall 8 & Hazeltine Corp w.i Hud & Man RR Hudson Co pfd ntl Rubber Sal t N Power Clonew wi Stores I ost U1 pt Ca 1 12 21 G o Corp ptd.. Repetti Candy S1Gel Proow vis wi & 1 new Stutz Motor. 1 Tenn K} Tean El Pow 24 pf b Prod Tadd Ship Union Carbide United nited ¢ Un 1t Shar Ward Bk Co . Ward Warid A B wi Cor ptd. s Har Mg wi MINING v Globe Cop Kk Ok Gold M Copper L1 ~ Hardshell Min Hawrhorne Mo T ero Jib o Kay Copper Corp. .. Netads Hills Min s on Pism sth Lead M M 1 12 Bocks Mt 8 & It R Rocky M S & R pfd rhead Gold Standard si¢ Teck Hughes Tono Helmont i Eaxtern United Ve Ext TS Cont nw wi Uity Gold Ve Wende W 1o 1d L. 10 ine &Ml Copper End Cons West End Ex 20 Weat 1'tah 110 Wilbert 1 Yukon ALEXANDRIA. ALENANDRIA cial).—Pus andria and blished Va. servies w June 18 between shington will ¥ 1. according fo in- ziven out by Robert L. Barcroft. Mr. May has a from the state corpora- tion commission, which, however, may be revoked at any time. He purchased, last February, the rights of the old Blue Bus line. The Washington- Virginia railway contested his opera- tion before the state corporation com- mission and a decision has not been made. 1t is expected a decision will be made shortly A fleet of twenty busses will be started. This, according to Mr. Ma will he reased as travel demands. The lines will serve that part of Arlington County not easily accessi- ble to the Washington-Virginia elec- tric road and which raised such a disturbance in the bus line-railroad fight last fall George R. Buddin, for eight years superintendent of the Washington di- vision of the wthern railway. with headquarters has resigned. ef- fective today is to be replaced Ly M. E. Madden of Birmingham, who mas arrived to take up his duties to- morrow Mr. Buddin would give no for his resignation and said that he had nothing definite in view. It was understood. however, he wiil be re- tained in the employ of the Southern, although no official announcement has been made. ) Mr. Buddin is considered very effi- cient as a rallway official. having Worked up to the position of super- intendent from telegraph operator. Mrs., Mary Lee Nevitt of Pohick, Fairfax County, widow of George C. Nevitt, died at her home early today. Funeral services will be held at Po- hick Church tomorrow afternoon at 2 o'clock, conducted by the rector, Rev. A. Campbell Tucker. ‘Alexandria's first year-round play- ground was authorized by the Alex- andria Playgrounds Association ye terday when it approved the appoint- ment of Miss Gene Smith of Rich- mond as supervisor. The Queen street grounds are now open and. according fo present plans, will remain open the entire vear. ) Funeral services will be held this afternoon from Wheatley's chapel for Sergt. Charles McKee retired, who Aropped dead here Sunday. Services will be conducted By an Army chap- lain from Fort Myer, and burial will be in Arlington national cemetery. Little Mary, three-week-old baby found Monday morning on the door- steps of 301 North Washington street, will be adopted by the Alexandria Hospital, following failure of an in- vestigation to locate the parents of the child. She will take the place formerly occupied by Sunny Jim, the hospital baby taken by his parents after ltving at the institution for more than a year. Alex- be re- st formation May of certificate MOTOR SALES HOLDING UP. NEW YORK, June 18.—Deliveries of motor cars produced by the General Motors Corporation to consumers in the first five months of this year were only 4 per cent below those of the cor- responding period of 1923, Alfred P. Sloan, jr.. president of General Motors, announced today. Mr. Sloan said that the corporation hereafter would issue monthly figures on deliveries in order to indicate the trend of the automobile iINAUSLTSg. sttt tanb—— Na- | oVerLl | | annual (Spe- | reason | STAR, WASHINGTON, D. C., WEDNESDAY, JUNE 18, 1924 BIGGEST SOAP FIRM VOTES YEARLY EXTRA Procter & Gamble Company to Pay Total of 9 Per Cent to Stock- holders of June 15. ANOTHER UTILITY DEAL Production of Pig Iron Falls Off in England—Schulte Sales Up. | By the Associated Press. NEW YORK, June tomary annual extra dividend of 4 Per cent on the common stock of | Procter & Gamble Company, larg- es ap manufacturers in the coun- try, payable in common stock Aug- gust 15, to stock of record June 1 has been declared in addition regular quarterly cash dividend of i per cent. 1 of the the 18.—The cus- o insure payment stock dividend in 19 direc'@rs plan to incrense the “#7d capital stock 1.000,000 25,000,000 res. The co was stated, also plans to incresse the cash dividend on the common to 25 per cent annually Another Utility Deal Near. | _Another utility deal, in which | Columbus Railway Power and 1 Company. an Ohio property, mas taken over by onc of the large lic utility syndicates, is repor Wall street & Co. members of the New Stock | Exchange, having been mentioncd as bidders The stock of the company advanced | yesterday to 108 bid and This bid price was 96 two we | Probable’ buy mentione { Stone & Webster, Inc |ice Company, and the F {and Share Company, a subsidiar; | the General Electric’ Company Production of pig _iron in | Britain dropped to” 618,400 tons in | April. compared with 66.600 tons i Murch and 652,200 tons in April last ir, according to the Bankers' Trust New York, while produc ingots and castings to compared with 5 in March and 749,400 Imports of iron and st the highest figure ince Septembe Exports of iron and steel totaled 316,800 tons, risc_of nearly 50,000 tons over the previous month Other Wall Street Briefs. In accordance with liquidation plans, the Tecumseh Cotton Mills, Fall River, Mass., declared a cash dividend of 40 per cent, payable July 1. A cash dividend of 25 per cent was paid last April Sales of the Schulte Retail Corporation in the five months of 4 agzregated $12,799.351, an in- crease of $2,174,524 over the same period last year Stockholders of Power Company will vote July 10 on 4 proposed issue of 500000 shares of hew stock to be known ax class B common, calculated e1d $5.000.000 for construction purp The new stock will be superseded hy the pre- ferred and present common Stocks as to assets and will share in dividends | with the present common after the per cent preferred dividends have en paid s it the ght be Stores Northern States e ARLINGTON EXERCISES 'HELD FOR 111 PUPILS Superintendent of Schools An- nounces Plan for Temporary High Schools. June One boys and girls ommencement ateh to The CLARDENDON, V ‘hundred and eleven were honored at joint exercises of Arlington County graded | sehools Cherry last night | Prof. Fletcher Kemp, county superin- tendent of schools, presided John R. Saunders, the state and te board of principal speaker. praising the g v meneral A member of the ducation, was the Mr, Saunders, aft duates and urging them to continue their studies, em- phasized value of zood educa- lion He was introduced by = State Senator Frank L. Ball This vear, for the first time in the history of Washington and Arlington districts, the graded school graduates Will not have to go outside of the | districts for their high school train- |ing, Prof. Fletcher Kemp having an- | noinded that the board of education | had decided to open high school in | temporary quarters this fall pending | completion of the new high school building to be erected jointly by the districts. Work on the structure is bout to start, he said. and the expec- Tations are that it will be completed about the first of the vear. Diplomas Were presented by C. C. Lamond. chairman of the county board of edu- cation. The gradual Cherrydale School—K er. John Bell. Bdward Cahill, Waiter Croson, Bruce Hise, Carl Livingston, Krug McCloskey, Cleveland Topley, John Spates, John Spence, William Wells, Irmgard Burger, Lois Hagarty, Mary Harrison, Alice McAtee, Helen Patterson, Katherine Ochershausen, Elizabeth Rogers, Helen Saum, Ruth Stalcup, Kathryn Waldo, Margaret Walker and Margaret ' Potterton, ‘Clarendon School—Adele Batcheller, Elsic Bushong, Jeanette Day, J. Wil liam Dawson, Linnie Foster. Char- lotte Frey. Ruth Germain, Katherine Hensley, Margaret Hensley, Charles Hohein, Elizabeth Kingsolver, Gladys Lancaster, Mabel Lancaster, Doris Major, _Elizabeth Mason, ' Donald Nevin, Mildred Nicewander, Benjamin Robertson. Ella Rollins, Frances uls, Hester Sias. Linwood Sparshot Beverly Taylor, Chatles R. Tavlor, jr. Albert Tillson, Odelle Watkins. Ballston school—Charles Bielaski Fannie Bowers, Paul Bowers, Dor- othea Brent, Elwin Browne, Martha Cosgriff, Stanley Drake, James East, Elsie Mae Finnell. Harry Robert Gorman, Mary Guill, Jacque: Irene _ King. Mann, “Anna Mendel. Mikesell, _Gordan _Payne, Pettitt, ~Otis Sims, Mary Smoot, Nellie ' Spenser. Margaret Vietch, Fort Myer Heights School—Minor Furr, Irving Kisseleff, Lewis herd, James Scott, Lloyd Tracey, Chester Thompson, Carrie Dertina, Hazel Hardy, Lola’ Keys, Josephine Kisseleff, Dorothy Meem, Marian Moreland, Georgie McKinney, Susie Kettner, | Dorothy Starke, Helen Steger, Hazel Swingood. Columbia _School—Joseph Jbhn DeLashmutt, Charles James Harris, Tom Hazel, Bertram Jone Walter Kirschner, Earl Plaugher. Walter Torrance, Julian Nelson, Richard Lyle, Evelvn Adams, Anna Pearson, Louise Lyle,|Mildred Mossburg, Eva Robinson, Hayden Sutherland, Alice Fulcher, Kathryn Robberts, Ruth Weeks, Beulah Kid- well, Ida Sher. GREEN HAY STARTS FIRE. Special Dispatch to The Star. FREDERICKSBURG, Va., June 18.— The large frame barn of John M. Peed in King George county was burned with its contents Sunday, while the family was at church. The fire is supposed to have started from spontaneous combusti@n in a quantity of green hay put in the barn a week before. The pile of hay was stirred before the family left for church, in order that the heat could have an outlet, but about 1 o’clock neighbors heard a muffler report and the build- ing was almost immediately envel- oped in flames. Besides the hay, the building contained twenty barreis of corn, fifty bushels of oats, binders, mowers and other farming imple. |ments. The lose ie eat at attorn of Franklin Virginia Evelyn Clark, Harris, to the COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PITTSBURGH, of overproduction fields as well as w il men anticipate crude quotations, following today's drop of 25 cents barrel on Corning grade to §1.90 per barrel. SEATTLE, June 18—Imports of raw silk and silk goods for the week | ended June 16 amounted to $6,974,000 | at this port. The extensive silk movement is expected to continue to July 1. when th anese exclusion act goes into effect PAWHUSKA, Okla., June 18.—About 2,000 acres of indian oil lands will be sold at zuction here June 30, includ- ing several tra in the Burbank field. Five tracts adjoin those which brought highest prices at the March e. June 18.—In view Pennsylvania oil stern areas, local @ further cut in | | - SHREVEPORT, June 18.—The Mag- nolia _Petroleum’ Company will em- ploy 500 expert wellers to join the pipe 210 miles long for the 16-inch gus line from the northern Louisiana kas ficlds to Beaumont, Tex. Work f cleafing the right of way has be- gun. The total cost will be over $3 000,000 DODGE CITY, Kan., the exception of scattering fie wheat in this section of Kun northwestern Oklahoma is the be: 25 years, according t retary Smiley of the Kansas Grain D reiation alers' . June 18—All of the land available for tobacco raising in district has been pre- pared for the crop, but only about 25 roc h planted. Plants for transplanting after a duys of dry, hot weather. ¢ 18 —The new Min- swers' Exchange has to 300 farmer-owned valued at approximately LANCASTER, P; few ST. PAUL, Jun a Potato warchouses 7,006,000, IMPROVEMENT NOTED IN HARDWARE TRADE | Lawn Mowers, Garden Hose and Motor Accessories Lead ‘Week’s Business. Special Dispateh to The Star. NEW YORK, June Age sa Reports reccived from hardware jobbing centers throughout the coun- try show that there has been an in- in business during the past Soveral days of good weather - done much to increase the sales of seasonal merchandise such as lawn mowers, garden hose, screen cloth, ete. Automobile acceasories are also selling I. while sales of builders’ | hardware continue to maintain their ge Although conditions have improved | somewhat. there is still much to be desired. It is general opinion, however, that there will be no decided change for the better until the politi- cal aspect hecomes more settled than it is at present, and until the weather becomes warmer than it has been A few price advances have been recorded, but the greater number of changes during the week have been | in the nuture of reductions. NEW 1925 AUTO MODEES ARE NOW ON MARKET ! Dikpateh to The Star. | TROIT, June 18 —From this | time on new automobile models will | | commence to make their appearance on the mark The Cadillac already has exhibited a new fve-passenger | closed car priced at $3.650. making the fourteenth Cadillac model The Cleveland Automobile Company has_brought out u 1925 model listed | {at $1.095 for the touring car. $1,196 | | for the so-called de luxe model tour- | ing car, $1.495 for the four-door se- | dan and § 5 for a five-passenger sedan. All models are equipped with | four-wheel brakes. balloon tires and | a new patent lubricating system | GASOLINE STILL LOWER. Other Business in Northwest Waits for Hot Weather. | a1 Dispateh to The Sta PAUL. June conditions 18.—Hardware crease week ha Spe 18 —Northwest are good hasically immediate trade impulses a 2 on the weather. Favorable til ahout July 15 is nec to assure large crops in this sec- Ition and encourage farmer-buying. | [ There has been a slight slackefting of | railroad shop work. track construc- | tion and mining, but the demand for | men on the farms is absorbifg the spare labor released Gasoline prices are on the { ward path owing to selling by automobilists, The pre- vailing price at filling stations in the northwest now is 18 cents. EVERYMAN’S INVESTMENTS trad but { waltin sary is down- co-operative By George T. Hughes THIRTY-SECOND ARTICLE. Public Utility Bonds. Public utility bonds as a class rank | next to those of railroads as,invest- ments. In the public utility bonds have the advantage | Both the railroads and the public | utilities are subject to regulation by the state. but in recent vears this regulation has been more intelligent and more fair to the companies in the case of utilities than with the rails. There are, of course, excep- tions locally, but the rule is as stated. For one thing the utilities have been wiser in their handling of their pub- lic relations than have the railroads, and the customer-ownership cam- paigns have been a great success in fulr:hlerin_wg these good relations. It is significant that the co; - tion which has the largest number of stockholders of any organization in America is a public utility, the American Telephone and_Telegraph Company. Like the railroads, the util- ities furnish an absolut service. We cannot get alo = Every year the demand for this kind of service increases. There seems to be no limit to the expansion of the telephone service, and continually new uses are being found for elec- tricity in the house, on the farm and in the shop. It is not surprising, then, that conservative investors look with favor on the bonds and the preferred stock of well managed companies fur- nishing this service. When there is a long record of profitable operation and conservative financing even com- mon stock of such companies com- mands an investment rating. 1t is true that some states, such as New York and New Jersey. do not allow savings banks to buy first mortgage utility bonds, but there is no good reason for this discrimina- tion. It is a relic of the days when only government and municipal bonds and railroad issues were considered g00d enough for the savings bank to fnvest in. Some of the states are more liberal in this respect and their numper is bound to grow. Railroad bonds of the savings bank class bring an artifically high price in many instances, making it still more advantageous for the individual investor to select utilities not legal investments, but to all practical pur- poses just as secure. Press As- righi, 1028 by Consedlamted ‘,w_ acintieng | | | some respects | dicate that the c {in | were developed | of coal a y soon jumped above 6.90. Stocks are AMAZING INCREASE IN WATER POWER Hydro-Electric Systems Are Gain- ing in Popularity With In- dustrial Concerns. HELD BETTER THAN COAL Philadelphia Move Latest in World-Wide Expansion. BY J. C. ROYLE. 3pecial Dispateh to The Star. W YORK, June 18.—A renewal Sf the ancient battle between fire and | water as producers of clectrig power | has resulted in favor of the latter. | although the fight was contested in| Drexel | have | the very stronghold of coal & Co., bankers, of Philadelphia acquired a controlling interest in the | Susquehanna Light and Power Com pany. and it is believed financial and eleotrical circles that this indi- tes the development of a great| super-power system, which will fur-, nish current of the Philadelphia dis- trict, Bristol, Norristown, Chester Camden, Atlantie City and even Bal-| timore. { i n The nucleus of this system will be the Philadelphia Electric Company, which already supplies power for the electrified lines of the Pennsylvania railroad. The Philadelphia compan¥ is now completing the first unit of a $00.000 kilowatt plant which will burn coal. It is in this connection that the acquisition by the Drexel| company of the Susquehanna control is significant Plan Studied for Years. For some years the possibility of | establishing steam electric plants to | Supply power to the Philadelphia lleetric Company, at the anthracite mines, has been seriously considered A Subsidiary of the lLehigh Coal and Navigation Company constructed such 4 power house at its properties, bulj While the current so generated has| been conveyed to nearby towns it has not been carried to the industrial district of which Philadelphia is the center. As the pany now water power, Philadelphia Electric Com- apparently has turned to it would seem to in- oncern had determin - hydro-electric _plant atisfactory than coal ‘mouth. This conclu- sion has been vigorously contested | T dvacates of coal as a producer of | electricity. The current produced in | the United States in 1923 totaled | 5£5.025,000,000 kilowatt hours. but of | this amount only 35.1 per cent was| generated by water DOwer. Steam Plants Increase. rapid iIncrease production of _power by steam Plants” savs the New York state ommittee on public utility informa- tion, “as compared with hydro- clectric central stations i< a natura development in an industry which has doubled every seven years. A Peoam plant can be built at sny| Strategic point, whereas a hydro- leatrie power site is often a lonk | distance from the market for its power “This is membered ed that the proved more s even at the the | “The more | | { it is re- modern produce | cost as| transmit- 100 miles | important when that the large Steam plants can and do ind sell power at as low fates for hydroelectricity ted from a plant or away. Furthermore, a steam plant | can be built more Guickly and le expensively than the water power plant and speed frequently counts taking care of new power de- mands.’ Great Power The head of the United logical survey declares that power sites cast of the Mis they would un- equal to the task of supplving the current required. It also is empha- sized by power men that the drought last summer forced the burden of producing industrial current largely on the steam-gencrated power plants of New York and adjoining states It is estimated that every horse- power developed by hydro-electric plants means a saving of four tons ar. Germany. it is known preparing to establish immense power plants operated by steam at the opening of the Rhur mines and to transmit that power by high ten- sion_transmission lines to other indu: trial centers | Electrical Boom in South. | Italy, on the other hand, producing | no coal within her borders, has de- veloped more than 930 hydro-electric plants in the period since the war h a total capacity of 1500000 horsepower, or about the amount generated at Niazara The effectiveness of the Ttalian svstem of power stations is indicated by the fact that the per capita use of elo trical energy in that country amounts to eighty-five kilowatt hours a vear. or ahout fifteen kilowatt hours more than in any other country in co tinental Europe. The development of hydro-electric stations in the south has been a marked feature of the last industrial vear. The Hatton Shoals property for example, on the Savannah River, has just been purchased by a sub. sidiary of the Georgia Railway Powar Company and will he util to supply power to textile mill the Piedmont section of Carolina and northeast Georgia. A Fool and Hix Money. The fact that a stock certificate 13 | printed in fancy green scroll work is | no proof that it is worth any mor than ordinary wallpaper. Thousand: of people in Washington would have $aved their money if they simply had asked their banker to tell them what | he knew of some supposedly wonder- ful investment. IRON AGE REPORTS STEEL DEMAND DULL| Mills Still Operating at Only 45| Per Cent Capacity—Pig Iron Active. Poxsibilities. ates geo- all the issippi By the Associated Press. NEW YORK, June 15.—"Another week has passed without signs of improvement in demand for steel or in the operation of rolling mills," Iron Age says. “The general average for active steel capacity about Pitts- burgh is 40 per cent, with Youngs- | town and Johnstown mills here 30 | per cent. For the country the aver- | age is under 45 per cent. The condi- tions of recent weeks are repeated in that pig iron is fairly active and at the same time buyers of finished i products show less need of steel. | “Purther curtailments in consum- ing industries have made it plain that | stock replenishment will be for some | time on a scale well below what was the rule in the first quarter of the | NINE-YEAR DISPUTE ENDS. NEW YORK, June 18.—Reorganiza- tion managers of the Denver and Rio Grande Western railroad system have declared operative the plan of read- justment designed to put the Yoad back on a solid footing after nine years of Teceivership. Agreement of the state of Colorado to raise no more objections to the plan removed the last obstacle in the way of its execution. HIGHER SUGAR VEX.;ECTED. W ORLEANS. June 18 (Special). —The withdrawal of price guaran- tees has been accepted here as a | forerunner of another advance in re- fined sugar prices. Considerable lLus- | iness has been booked by refiners at 65 cents a pound, but this price FINANCIAL. W., B. & A. DIVIDEND | First Mortgage Loans!! ACTION mscussgg‘m.n Haten of Interest and Commission. Specinl Dispateh to The Star. Prompt Action BALTIMORE, June 18 —Holders of Thomas J. Fisher & Company, Inc. the preferred stock of the Washing- Sth Street ton, Baltimore and Annapolis clectric railroad anxiously await action on the quarterly dividend on the pre-| ferred stock, which, in the ordinary | course, would be paid July 1. \ Opinion in the financial district is| that the board is not likely to take action until the Public Service Com- mission of Maryland decides the rate | case wherein the company has asked for permission to increase fares. If | the decision is favorable, the chances re that the dividend will be paid; on the other hand. if the case Toes against the company. it is uncertain | t0 say the leas action the board will ke dividend on_t EQUITABLE Co-Operative Building Association Organized 1879, 44th YEAR COMPLETED Ansets $4,735,170.52 Surpius L1181,245320.98 The Benefits of Systematic Saving arc in evidence in thousands of cases on_our books. Join the Equi ble now and save something esch pas day. t The Siren Voice of The Promoter With Fake Stocks and Promises Of “Easy Money” Will Lare the Unwary Onto The Rocks— Let Us Advise You How to Eam 79, With Absolute Safety First_Mortgages vielding 64 or 7% are our specialty. (BHANNGN & LUCHS) 713 and 715 14th St Main 2345 Subscription for the 87th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F ST. N.W. JOHRN JOY EDSON, President FRANK P. REESIDE, Fee’y. Oklahoma Gas and Electric Company First and Refunding Mortgage 6% Bonds Due 1941 Gas and Electric Utility in Oklahoma Serves 77 cities and towns Total population in excess of 369.000. Net Earnings of properties now comprising the system have increased over 171% in the past five years. Properties: Modern electric power plants, having a to- tal installed capacity of 68900 hp., exclusive of a 20000-h.p. plant now under construction Price 94 and interest to vield 6.60% Circular W-481 (m Request E. H. Rollins & Sons Founded 1876 416 Woodward Bldg., Washington Boston New York Phindaiphn Ohionge Donver San Frameacn Arnold Guaranteed Certificates Arnold Guaranteed Certifientes afford a xafe and profitable in- vextment for surplux fi They are wecured by first mortzages on improved Income real extate and homes, are a direct obligation of Armold and Company. of to in amounts and $1.000. of 2 to 1ssued $100. $500 run for term years, ARNOLD AND COMPANY Inrorporated. Capital and Surplus, $1,250.000. 1416 Eye Street N.W. Telephone Main 2434. FIRST MORTGAGES FOR SALE THE TYPE OF SECURITY CONSERVATIVE I VESTORS BUY IN DENOMINATIONS TO SUIT PURCHASERS JAMES F. SHEA 643 Louisiana Ave. N.W. Wash., D. C.. June 10, “24 Pay to the order of Mrs. Thrift $35.00 for months interest du 1924. on first mo purchased through Department. 5 10, note Mortgage This is a facsimile of the many Checks icaving our office daily to investors in our 7 o/ /O First Mortgage Notes (g4 Note the date doe and time sent.) Once you invest in first mort- gages no other form of investment wiil appeal to you. Send for com- plete details. Notes now on hand $100 up. Chas. D. Sager G624 14th St. Loan Dept. - = 7 % Mortl;:tges $250 and Up William S. Phillips || ISTH ST. AT K N.W. Main 4600 | Joseph I. Weller Money to Loan Secured by first deed of trust on resl sstate Prevailing interest and commission. 420 Wash. L. Hidz.. 9th & F Trus NW YOUR SAVINGS In Our FIRST MORTGAGES “The Safest Security on Earth” A Denominations $100 to $10,000 JMORRIS CALRITZ: CQ 1416 K Street N.W. \ Maia 617 Northwest Residential and Business Property Only Office Space for Rent Long Lease Reasonable Rents 923-925 15th N.W. (Opposite McPherson Sq.) B. F. SAUL CO. 1412 Eye St. N.W. 8 |