Evening Star Newspaper, June 26, 1924, Page 29

FINANCIAL. NEW YORK CURB MARKET Reccived by Private Wire Direct te The Star Office PRICES VERY STEADY AT CENTER MARKET Commission Houses Report No Important Changes in Today's Wholesale Market. SWEET CORN IS LOWER « Tomato Receipts Heavy—Demand Good for Peaches. The Washington wholesale market for meats and poultry products today moved on in a manner indicative of stability year in and year out. As far as could be learned there was not a cent difference in prices for live stock, fresh meats, poultry, butter and eggs. " Hens threatened to spoil this exact reproduction of vesterday by taking on a weakness, but nothing serious was anticipated. Twenty-three and 24 cents were the prices asked. Receipts were moderate and deal- ers emphasized the need of spring chickens from the shippers. Eggs. plentiful, still were 26 cents in whole sale lots with commission merchants, and $1 to 33 with jobbers. Pork. according to grade, a23—bottom and top price. The Department of Agriculture’s vegetable market report follows Cabbage Suppliex Liberal. Cabbage—Homegrown supplies lib- erul; demand light, market slightly weaker; homegrown, uncovered bar- rels pointed type, A demand £ood, market steady ; salmon 18, standards. 4 some sof! mostly, sold at 1 ponys 2502.7 1.23a1.40; some sof Peaches mand good for gnod steady moderate: de- stock. market e, large medium mostly overripe, around 3.00; many some Potato Recelpts Light, Potatoes—Old_stock, supplies very light, no sales reported: new stocks, <upplies light: demand moderate, market firm: North Carolina and Vir- zinia, Norfolk section, cloth top stave barrels Iris .S, No. 1, hest mostly % cayed, 2.50a3.00 demand good, ippi, 4s, turning. wrapped, some leaky, 60a75; bs, ., many soft, leak wrapned. count, 1.50a2.00; choice 5a1.50. String bean of home- growns liberal, shipped stock light; demand moderate, market weaker: North Carolina, ' bushel hampers, green, 1.50a1.75. Cucumbers—Supplies demand moderate, market : Virginia, Norfolk section, %-b. . hotbed stock, fancy, 2.00; , 1.25a1.50; North Carolina, bu. 1, 1.50a1.75. Sweet Corn Lower. Sweet corn—Supplies liberal: de- y mand moderate; market slightly weaker; North Carolina, crates, ap- 5 dozen. 1| 0. Dew- berries—Supplles moderate; demand market firm; North Caro- crates, best, 3.30a4.50, poorer, q mand moderate: ma steady: Flo ida, bulk 100 melons, Tom Wa son: pound average, to 24 pound averag (J 18 to 20 pound averags 50.00. Lima beans—Supplies moder- ate; demand limited; market slightly weaker: South Carolina, bushel ham- pers, 3.00a3.50 Cars on Track at 8 A.M. Today. Beets, 25 crates Virginia boat; cab- bage, 1 Maryland freight, 25 crates * Virginia boat, 1 broken and 1 un- broken car on track: cantaloupes, 11 California freight, 12 broken and 10 wnbroken ears on track; carrots, 125 erates North Carolina express, 33 baskets Virginia boat: celery, crates New York express; sweet corn, 100 crates Florida, 125 South Caro- lina, 585 North Carolina express, 1 broken and I unbroken car on_track; cucumbers, 200 crates rth Carolina express, 110 crates Virginia boat, 1 broken car on track; lettuce, 1 Wash- ington freight, 530 crates New York express, 25 crates Virginia boat, broken and 1 unbroke: mixed vegetables, 1 Carolina freight, 1 broken car on trac! ons, 1 unbroken car on track; onions, 1 Ohio freight, 1 unbroken car on track; oranges, 1 California freight, 3 “broken and 3 unbroken cars on track; peas, 120 baskets North Caro- lina express; peppers, 75 crates Flori- da express; potatoes, 3 North Caro- lina frelght, 210 barrels Virginia boat, 2 broken and 2 unbroken cars on frack; string beans, 75 baskets South Carolina, 182 baskets North Carolina, 50 baskets limas Fiorida express, 17 baskets Virginia boat; tomatoes, 4 Mississippi freight, 120 crates Florida express, 11 broken and 7 unbroken cars on track; watermel- ons, 2 Florida freight, 5 broken and 1 unbroken cars on track; peaches, 150 crates Georgia express, 1 broken car on track: blackberries, 300 crates North Carolina express. NEW YORK EGG PRICES. NEW YORK, June 26—Eggs—Ir- regular; receipts, 29,519 cases; fresh BY WILLIAM F. HEFFERNA NEW YORK, June 26.—The buying movement In the curb market became more pronounced today and practi- cally all classes of stocks shared in the improvement. Some notable ad- vances occurred in a number of in- dustrial speclalties, carrying them to the highest prices so far reached, while the general market was more active and stronger than it had been in some time. Selling of the oil stocks which fol- lowed announcement Wednesday that the Attorney General had brought Suit against the Standard Oil com- panies appeared to have run its course, and substantial recovery oc- curred. Standard of Indiana felt the effect of covering orders and rallied about A& puint to across 56, Prairle Oil and Gas regained 3 points and other lead- ers moved up similarly. New York Transit, however, was ugain pressed for sale, getting down another 3§ points. The outstanding feature was the | persistent strength in atocks of chain and department stores. Grand Stores common was the leader and reached 81, where it was selling 11 poiats ubove Wednesday's low. The com- pany’s sales for May showed an in- crease of 28.5 per cent over May last year. McCrory “Stores warrants and the B stock were also prominent in this group, the former gaining 3 points overnight and the latter up a like amount to 83 The rise in National Tea new was checked us the result of profit-taking sales. but the stock was well sup- ported on the reaction. New high records were agaln reach- ed in shares of radie companies, nota- bly in Dubllier: across 3 and Ware above 16. A falr demand came into the market for Thompson Radio, car- rying it across 12. 1t was not until the afternoon that re- tront, both preferred and common advancing a half point or so, while improvement elsewhere was _frac- tional. A sudden demand for Yellow Taxi carried the price up 3 points to 23. —_—_— W NEW_ YORK, June 26.-—Following is an official list of bonds and stocks traded In on the New Y. ‘urb Market today: WSRO vales in BONDS. thousands. Hij 16 Allied Packers 6s.. Allied_i'ackers bn Tee 7o w i 3 Am Rolling Mills 1 Am Thiead Co 6s.. 1 Ansconda s ... Anglo-Amer 031 7igy Sugar Tige. m Haw 6 oard s Manitoba Power 75, Mo Pac Ry dw..... Morrix & Co Tigs Nat Leather 8 Yacuum Oil 7. Ya Ry 5 a Ss A will Webst Mills 63 wi 1025 FOREIGN BONDS. Russ Gov cfs Russ Gov 6%s... Russ Gov 6lx M ef & Co fis 343 B 100% Gov 5 90! Sales STANDARD OIL 1SSU in units. ” 00 4 5 e R L 100 Chesebrongh Bw wi 20 Cheseb'gh nw pfd 1 300 Crescent P L ... 10 Galena Signal Oil. 400 Humble 0 & R wan & 41 1 800 Vacuum Ofl new .. 6113 6015 Sales INDEPENDENT OIL STOCKS. in bundreds. 1 Carib’ Synd 1 Cit sery ..l 2 Cit Nerv ptd $1000 Cit Serv serip . Synd . F Derby 0 & Re wi.. Derby O & R pf wi 40 Engineers Pet Federal 0il . > Gilliland Oil vx t ¢ 0il of Py PLEM ] (G L Jr— FEF L Eer Bank Of Royal Canad O & R it Ck Prod. Sunstar 01 Woodley Pet INDUSTRIALS, 3415 5';&,; Y Tel Co pta Y Transportation il Elee ... 'rocter & Gambie... H 7 104 i i 30 110 Rovenb Grain Corp W Yelloy Taxi Co Western Power .. MINING. 5 Alamo Gold Mining . Alvarado Min ... Arisona (Globe Cop. .06 ck_Oak Gold M .82 Canario_Copper Coatin Mines ... Cons Cop Mines new s Nev Utah tes Silver ...... . ond Bk Butre nce Gold M 5 feld Dy rmill Div Huwthorne Holllager 2 Jerome v Devei . Cous 20 Qtay Herenles Inc. 8 REy M S & R B Rky Mt 8 & R p 20 SIl King Div 1 S0 Am told & 3 Tono Relmont Cont new wi End Ext st Utah, TODAY'S METAL MARKET. NEW YORK, June 26.—Copper —Easy; electrolytic spot and futures, Tin—Firm; spot and futures, Iron—Steady and unchanged. Lead—sS| 7.00. Zine— > spot and near- Sell Your Unlisted Securities At eyt the buyers fe ber of Fow York “Broken, © ‘We oan fi“‘. & price om most R ade Cahy o wE VS NoTa¥a 70 The Capital City Co. 1319 ::.?:I::‘N.w. EQUITABLE EHtNm s Sl Axnetn . $4.755,170.32 Surplus 1.345.320.96 Save as You Earmn and Prosper —It is Dot what you earn. but what Tematic saving plan of the Equl ble and advance fmanclally. Subscription for the 87th Issue of Stock Being Received Shares, $2.50 Per Moath EQUITABLE BUILDING 915 F ST. N.W. JOHN JOY EDSON. Preaide: FRANK P. REESIDE, See'y. When Buying Our 7% First Mortgage Notes You Can Re Ansured and con- A very careful has been appraisal The loan we recommend than 50% of the market Third —After you have purchased one of our notes you get & serv- ice that assures you interest the day due. Notes on hand in amounts of $100 wp. Chas. D. Sager 924 14th St. Lean Dept. 36 Main 37 3s Millions of dollars every year—by those who thoughtlessly invest their money in doubtful stocks. POSITIVELY There is no need for this if ordinar; caution is used—STOP taking chances for a doubtful big profit and buy cur FIRST MORTGAGE NOTES That are absolutely secured upon improved real estate in the District. No“anxious moments, but catm satisfaction, both in the security and the prompt payment of interest #nd principal Mortgage Investment Dept. HANNON - e ——— -LUCH 713 and 715 14th Street NW. OUR PLANK SERVICE-PLUS has always been the big plank in our platform, and Metropolitan is here to FIRST MORTGAGES FOR SALE THE _TYPE .OF SECURITY CONSERVATIVE IN« VESTORS BUY IN DENOMINATIONS TO SUIT PURCHASERS JAMES F. SHEA 643 Leuisiana Ave. N.W. Invest Your First Mortgages “The Safest Security on Karth” 7% Denominations $100 to $10,000 MRRSCALRTE: Ca 1416 K Street N.W. Main @17 Northwest Residential and Business Property Only A Interest 50% Increase l i During 1923 There are_sound reasons for the strong public confidence in Cities Service Company, demonstrated by the increase in number of its security hold- ers from 100000 to 150,000 within the,past year. Safety, ready marketability and liberal yield, as_well as convenient denominations and a monthly payment plan, give Cities Service securities an unusual appeal to beth large and small investors. Mail the coupon for full partic- ulars about Citles Service Pre- terred Stock. on which dividend requirements are being earned more than three times and which can be bought now to vleld more than 89, Thomas W. Brahany and Company Wilkins Bulldi; Telepho Washingten, D. C. Main 6189 -———-emm - - Thomas W. Brakaay & Ce. Wilkins Bldg., Washingten, D.C. P end me full informa| Cities ‘Service Preterred Slock * e about your mesthly paymest pian for buyiog it. Money to Loan Secored By firet deed of trust on resl estate. Prevailing interest gnd commisgien. Joseph I. Weller £ 74k % & T4 Wanted Second Trust Notes We have clients with funds to purchese good SECOND TRUST NOTES in denomina- tloms of from $500 to $10,600. Low rates if security is good Apply at Once 1o Our MORTGAGE DEPARTMENT 713 and 715 14th Street N.W. Main 2345 7% for Let us reservi only a limited $1,000 and $5 Call, write or NO LOSS TO vestors are fortunate in being able to obtain 649, and 79, on the strongly safeguarded current offerings of our First Mortgage Bonds. Federal and D. C. tax-free features bring the gross yield on the 639 issues to 7.13¢;. SMITH BUILDING e T FINANCTAL. FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF 500 DOLLARS AND UPWARDS andall Lyf yé¢ner % @ ‘ ; 207 62)1)1!f//d£/ J%cnfle Your July Funds In these days of declining interest rates, conservative in- e for you now First Mortgage Bonds of the particular issue, maturity and yield that you desire for your July funds, We suggest that you act promptly, not only to prevent loss of interest on your money, but also because amount is available in each maturity. Bonds may be reserved immediately, without additional cost, for payment in July or for purchase under our invest- ment savings plan. The deneminations are $100, $500, ,000. telephone Main 6464 for full information. Smith Bonds are Safe Bonds ANY INVESTOR IN 51 YEARS “The F.H. SMITH COMPANY Founded 1873 815 FIFTEENTH ST. $2,496,000 Washington Railway and Elec. Company General and Refunding Mortgage Six Per Cent Ten-Year Gold Bonds Dated November 1, 1923 Due November 1, 1933 Authorized $10,000,000 terest payable May 1, and November 1, in Washington, D. C., or New York City, without deduc- Iets e tion of the normal Federal income tax up to 2%. American Security and Trust Company, Washington, D. C., Trustee. will be mede to list tm the Washington Stock Exchange Joswance eutherized by the Public Utilities Commission of the District of Columbia Myr.S. R. Bewen, elos-president of the mm';almnim his letter to us regarding these bonds as Joi o sive In wer Com] s m};‘; Wuhiné?ox;:y and adjacent communities, Railway and Electric Company owns or controls and operates an exten- of railway properties in the District of Columbia and adjacent territory. mated population of 475,000. The franchises of the Washington Railway and Electric Company and the Potomac tion, the company owns all the outstanding capital stock of the Potomac Elec- which does the entire commercial el tric light and power busi- serving without competition an esti- (i prestige Electric Power Com , in the District of Columbia, are, in the opinion of counsel, p e d without limit as to tion, and the rates charged are under commission jurisdiction. 1 gathered, extra firats. regular backed, Avpalac Pow & Li T 2314a29%; do. storage packed, 29%a 1 prd. 50; fresh gathered firsts, regular| 10 Atlantic Frut wi cked, 27%a28; do. storage packed, (Y (T I} TR T i "-1 g::ve the fact that the principle has n consistently adhered to ever 2534a29; fresh gathered, seconds and Poorer, 25%a27; nearby’and nearby western hennery whites, firsts to average, extras, 31a38. _— Are You a Suckert? Too many people put their money In day dreams and wake up broke. Never put your name on the dotted line until you bave inquired of some one in your bank what he knows about some stock issue that is of- fered to you privately. CHICAGO LIVE STOCK MARKET. CHICAGO, June 26 (U. S. Depart- ment Agriculture).—Hogs: Receipts, 29,000; moderately active; mostly 10 to’ 15c higher; good demand: bulk good and choice, 250 to 325 pound but- chers, 7.10a7.2 .26; bulk better grades, 160 to 225 pound weight, 6.70 a7.10; desirable 140 150 pound averages, largely 6.2526.60; bulk packing sows, 6.3026.55; killing pigs, weak: bulk good and choice, strong weight, 5.50a5.65; heavywelght, 7.00a 7.25; medium weight, 6.90a7.20; weight, 6.35a7.05; light light, 5. 6.80; packing hogs, smooth, 6.4026.70; packing hogs, rough, = 6.0026.40} Slaughter pigs, 4.75a5.65. Sheep—Receipts, 12,000, fairly ac- tive; native lambs steady to 25 lower: rangers fully steady; sheep and cull native lamps steady: general lamb quality below standard; few early sales native, 13.00a13.75; top price paid by fall killers; few good to choice range lambs,” 13.65; yearling wethers, 10.00811.50; fully steady; fat ewes slow, scarce; few upward Cattle—Receipts, 7,000 head steers and yearling and most grades fat she stock, strong to 25 higher; mostly 15 to 25 up; trade uneven, but fairly active; killing quality generally plain, good shipping demand; early top matured steers, 10.50: some held higher; bulk red steers and yearlings, numerous sales yearlings, grain-fed cows and demand; - grassy kind, however, more active; higher in spots; bulls, dull; weak to 10 lower; best heavy bolognas, 4.50; most de- sirable _ sausage bulls, ~ 4.25a4.50; grassy kind, 3.25a4.00; vealers, 8.00a 9.00 to packers; few choice kind, 9.50 and above to outsiders; trade mostly 25 jower; stockers and feeders scarce, . to 5.75. ; beef i Childs Co pfd. 12 3 Com'w'th Pow Cor. 84% 2 Continental Tib Ine 231, 1 Cartime Aero Mt Cor 413 21 MeCrory Stores B. 1 McCrory Store new 1 McCrory St war ef 481 % Nat Tea Co ...... 187 WALL STREET BRIEFS. Erie Financing Completed—More . Railroad Consolidated Talk. NEW YORK, June 26.—Negotia- tions for mew financing by the Erle railroad have been completed through the sale of $10,000,000 two-year 5 per cent notes to J. P. Morgan & Co. The issue has been placed privately. The road's financing program, expected to total about $20.000,000, has aroused more than usual interest in Wall street because of recent reports that the Van Sweringen interests had ac- quired control. Plans for another railroad consoli- dation took shape today, when it was reported that the Ann Arbor railroad was seeking control of the Manistee || ahort 1y with its system. $2,000,000 stock which the Ann Arbor is expected to acquire, one-half prob- ably will ‘be taken up by important » since we began business one hun- dred and ten years ago. Accounts of corporatiens, firms and individuals invited on the basis of demon. Organized in 1814 strated ability to serve well. Our Savings Dept. Pays 3% Compound Interest National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000 15th St.,, Opposite U. S. Treasury—110 Years Old WA In Your Interests and for your convenience these Notes are issued in varying amounts and with a wide range of maturities. 6Y2% First Mortgage Investments Denominations es low-as $100 MAN Constructio &’:fin!.! EARNINGS (of the thlngtanpll.ihv-y and Electric Company System, including the Gross Earnings . Openth_llg Exrem'n. ‘Current Maintenance and ®Excluding Reserves for Replacements. otomac Electric Power Company) —~———~Calendar Years——— 12 Months Ended 122 1923 May 31, 1924 $11,605,397 $12,067,187 $12217,619 . 7559940 2,755,273 $4,045,457 $4,311,914 ding the present issue) 7,740,635 $4,476,984 1,603,158 $2,873,826 The above net earnings for the twelve months ended May 31, 1924, are over 2.79 times annual interest charges on the total funded debt to be outstanding i 4n L il o ding with the public up- 20 bonded debt of the Washington Rdlwnfi and Electric Company and its subsidiar- with the public, is the :ublic utilities commission of the District of Columbia, to- based on a . gether The mortgage provides f e.dln-batlultl%" y less than the value of the pro thereto. sinking fund requiring semiannual ments equal i the amount of general and refunding mr:rytgnge boelgis oufi standing in the hands of the public on the date of payment. a— - Bonds are offered for delivery when, as and if issued and received by us and subject to approval of our cownsel. It is anticipaied that definitive bonds will be ready for delivery on or about July 17, 1924, (Payment for bonds mey be mede in Petomac Electric Power Company at pricés equivalent to & 4 general improvement ¢ % debent: 5% gold bonds, due February 1, ll‘l'l‘. '::.:: . basis, computed from the date of such payment te the dates of Tespective maturities. Price 99 and accrued interest, to yield over 63% The National City. Company Harris, Forbes & Co. Crane, Parris & Company e @ove hbernctin-D-Sand e ofidel setmients and smtisticn. We- s met guasenten, Bub-Sellave 1t to e cwerest.