Evening Star Newspaper, August 15, 1924, Page 17

BUTTERIS HIHER AT CENTER NARKET Wholesale Price Advanced One Cent—Poultry Drop Predicted. Dealers reported the poultry market as being in good shape this morning, and said they thought the prevailing advanced prices were only temporary. It is thought prices soon will de- crease. Live chickens were quoted at 28 to 38, and dressed stock at from 35 to 45. A price of 25 was quoted on live fowls, and dressed stock at 28 and 30. Turkeys were quoted at 25 for live and 35 for dressed. An advance of 1 cent in the price of butter was reported, prices being 42, 45 and 47. The egg market is very firm. The daily report on fruits and vege- tables, compiled by the Market News Service Bureau of Agricultural Eco- nomics, today says: Cantaloupes—Supplies liberal; de- mand moderate; market about steady. North Carolina, Ridgeway section, Salmon Tints, standards, 45s mostly, ordinary quality and condition, 50a 2.00; Delaware and East Shore Mary- land, standards, 36s and 45s, Salmon Tints and Pink Meats, 3.00a3.25; Bal- timore section, 14-quart hampers, Green Meats, 1.00al. ;California, Turlock_section, Salmon Tints, stand- ards, 45s, fair condition, 3.50a4.00; standard crates Honey Dews, 2.00a 2.50. Peaches—Supplies good; market stead. lina, bushel baskets Elbertas and Hales, best, 3.25a3.75; mostly 3. North Carolina and Georgia, 6s, El bertas, large size, 3.00a3.25; medium to small sizes, Virginia, bushel baskets and 6s, Carmans, large liberal; demand North Caro- size, 1.50a1. few higher; medium to small sizes, 1.00al. 6s, Hileys,| small size, Elbertas, medium size, 2.50a2.75. Potato Supplies Light. Potatoes—Supplies moderate, de- mand light, market firm; Virginia Norfolk section, cloth top slat bar- rels Irish Cobblers, United States No. 1, a2.50, few New Jrrsey, sacks Irish Cobblers, :'nited States No. 1, 2.00a2.50, mos¥r 2.50 per sack. Watermelons—Supplies m $@erate, demand moderate, market steady, sales direct to retailers; Georgia ani South Carolina, Thurmond 26- 25-1b. average, 63a7 erage, 45a50 each. Peas—Supplies light, demand mod- crate, market steady; New York bushel baskets Telephones, mostly 2.00. String beans—Maryland truck re- ceipts, moderate; demand moderate, market steady; MaMryland uncov- ered barrels green, mostly 6.00. Tomate Market Firm, Tomatoes — Homegrown _receipts light, demand moderate, market firm; homegrown, half-bushel hampers No. 1, 1.25a2.50, mostly around 2.00. Onions—Supplies moderate, demand moderate, market steady; Massa- chusetts, sacked, per 100 1bs. yellow varieties' No. 1, mostly 3.50, Corn—Homegrown receipts mod- erate, demand moderate, market steady; homegrown, 5 doz. bags sugar corn, 2.00a2.50. Lettuce—Supplies moderate, _de- mand moderate, market steady; New York, 2 doz. crates Big Boston type best, 1.50a1.75; ordinary quality and condition, 50al.; [3 Cabbage—Supplies moderate, de- mand moderate, market steady; Vir- ginia, bbl. crates, round type, 1.90a 2.00, mostly 2.00. - Before You Invest—Investigate. Ever notive that the fellows who try to get rich quick are always broke? = OUTLOOK BRIGHTER IN SHOE INDUSTRY Bay State Workers Sign New| Agreement—First Call for Help in 10 Years. Special Dispatch to The Star. BOSTON. August 15. — Prospects are brightening for the shoe industry in Lynn and other centers. It is ex- pected the new agreement worked out by the State Board of Arbitration will bring peace to the Lynn fac- tories. This agreement wh.ch abol- ishes the five-day week -in favor of five and one-half days, except in Summer, has been signed by the workers and only awaits the signa- ture of the factory owners. Certain that peace is near, the latter are pre- paring to handle orders which have been piling up. There has been a general call to women members of the Shoe Stitch- ers' Union offering employment to all who want it. This is the first general call in 10 years. The Haverhill manufacturers will propose a substantial reduction in wages when they come to make a new agreement with the Sole Work- ers’s Union. The present contract ex- pires August 27, and the workers had proposed continuation of the present scale and conditions, MERGER RUMdRS DENIED. Wall Street Gossip Links Up Too Many Railroads. NEW YORK, August 15.—Railroad merger activities of the Van Swerin- gen Interests of Cleveland have pro- duced a crop of fresh rumors regard- ing other consolidation plans, which have kept rail executives busy f{ssu- ing denials. Among the reports dis- credited yesterday were those that the New York Central would make an offer to minority stockholders of the Pittsburgh and Lake Erie; that the Baltimore and Ohio was purchas- ing Reading stock in the open mar- ket; that the Lehigh Valley would be linked with the New York Central lines and that the Chicago and East- ern Illinois would be taken into the Van Sweringens’ Nickel Plate system. s OIL DIVIDEND DECLARED. ) NEW YORK, August 15.—Directors of the Standard Oil Company of New Jersey today declared the quarterly dividend of 25 cents a share on the common Stock and $1.75 cents a share on the preferred. While mainten- ance of the common dividend rate had not been called in question, Wall Street watched the meeting with considerable interest in view of the recent omission of dividends by other Standard Oil Companies, the Atlantic Refining Company and Standard Oil of Kansas. o MILLS CUT CLOTH PRICES. ST. LOUIS, August 15 (Special).— The record attendance of merchants at the annual fashion show this week shows a healthy general buying move- ment in all lines of clothing. The demand for men's and boys' wear is especially varied and rounded out. Some clothing manufacturers, over- tocked because of the summer de- pression, are reported making con- cesslons for cash. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, August 15.—From the action of radio stocks in the market both Thursday and again today, it was evident that the upward move- ment had finally got under way again. However, there was considerable dif- ference of opinion as to whether the present high selling prices for most of these stocks are justified by earn- ings. The pools back of these stocks went ahead bidding up their favorites with the utmost confidence. Thomp- son and Rova sold at the highest prices so far reached, and Dubilier and Ware moved up a point. Some of the public utilities came in for more attention, notably American —_— NEW YORK, August 15.—Following Is an official list of bonds and stocks traded in on the New York Curb Market today: Sales in BONDS, thounands. 15 Allied Packers 6s.. 18 Allled Packers Ss. Alum 7s new ‘33 . Am Gas & Elec Am Ice 7s wi . Am Fow & Lt 6s Am Roll Mills 6s.. Anaconda 6x ...... Anglo_Am_OIl 7ika Awso Sim Hdw 8in At G & WISSds E & 0 8 wi .. Beth Steel 7s '35 Ry Eq s 5% Clase. Can_Pac Ry 4 Chi Rock T & P Cudahy 5x Detroit City ¢ Dunlop T & R T Fisher Rody 6x '25 Fisher Blody & '28 Galena Sig Ol T 1 d T Grang runk 6. . Inter Match 6ix wi Kan Cit Terms 5%s Kennecott Cop 75 Lehigh Power 6 Lehigh RR 58 Leh Val H Ry 5 Libby McN & L 7 Morris & Co Ts. Xat Leather 8« New Or Pub Ser Gs Nor States Pow 8ign Nor 8 I Minn 6% C Penn_Power & Lt b3 Pub Ser 8s..... Pub Ser N'J Tal Pure 0il Co 6%s. 3 Shawsheen s ¥ Sl 6 1 Southern Cal Ed 5x.. 7 GaE 6 98 9% 98 TRONY S e T Toak, T00% 108% h ¥ 31 w07 1074 1SO0NY6% 108 108 7 Swite & Co o1, en ivhEL s o & Unit Ry of Ha 43 Vacuum Of Ta..... 1073 107 107% 3 Vireinis Iy on A'wi 938 9515 5% 9 Webster Mill %5 wi 1083 103 = 10313 FOREIGN BONDS. 2 Gt Con El Pow Ta A 9% 91% 914 § Tndus Bk Finland 7a 9% 9% 5% 11nd Bk Japan 6s wi 99 9973 iy Washington Stock Exchange. SALES. % Gas 66 '33—100 at 100%. T eaction (.30 at 93%, 20 &t 9%, 0 at 33%, 10 at 83%. 10 at 835, % Wi 1007 S35 T t 031, 10 2t 035, 10 at 9%, 20 at 93N, 20 at 93 10 at 93%. 10 at 93K, 20 at 933, 20 at 93 93%. 10 at 93%. 20 at 93 1y at 9314 Y10 at 93%. 10 at 93% ninpton Gas LIES at 08, gy Lanston Monotype—3 at 78, 8, iergenthaler Linotype—20 at 137, 10 at Mtge. & Inv. ptd.—54 at 8%, 40 at 10 at 1 AFTER CALL. Capital Traction 5+—$1,000 at 98, '33—$1,000 at 101% ashington Gas 6 ‘338 o “}"Q' ,000 at 74, $1.000 at 74%, $2,000 at T4, 000 &% 74 ' s2.000' 8t 1. Capital Traction Co.—10 at 93% 20 at 934, 10 at 93%, 10 at 93, ‘Washington 000 tional Mtge. & Inv. pfd. UNLISTED DEPT. “These securities not listed under Exchange Washington Rwy. & Army and Navy Club. Cosmos Club 4%s. Commercial Club ist Metropolitan Club 4% Anscostia Bank.. Chapin-Sacks 7% pfd. Chapin-Sacks 8% pfd. Citizens' Savings Bank. Connecticut Pie Co.. Christian _Heurich 'Brewery. Departmental Baok. 5 District Title Tns. G 18 nkiin_National Bank. 140 insey Trust Co. 105 North Capitol Sa’ 10 Northwest Savings Bank. 14 Northeast Savings Bani 13 Park Savings Bank. 50 Potomac Savings Bank 200 Raleigh Hotel Co.. o7 Standard National Bank 5 Washington Title Ins. ¢ 8 Washington Baseball Clul 32 Woodridge & Langdon Sav. 12 Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. American Tel. & Telg: American Tel. & Telj Am. Tel. & Tel. ctl.tr. & Tel. conv. 6. & Potomac 5s. 8 A & Potomac guar. 5u.. 89 Chesapeake & Potomac & C. & P. Telephone 5s. % 951 973 Georgetow 4 Metropolitan 100° Patomac Elec. 971, Potomac Potomac Potomac Pot. Elec. Pow. g m. & ref. Ts. wh., Alex. & Mt. Ver. 5 s, Alex. & Mt Ver. ctfs sh.. Halt. & Aunap. 5. Gas 5s. w w w w w w W MISCELLANEOUS. D. C. Paper Mfg. 6a. Rixgs Realty 5s (long) Riggs Realty 5a_(short). 97 Sonthern Didg. 8. 929 Wash. Mkt. Cold Storage 92 Wardman Park Hotel 6s. 100 STOCKS. PUBLIC UTILITY. American Tel. & Telga. 3 50t z;ni Wash. Rwy. & Elec. com. 6 Wash, Rwy. & Elec. ptd. i Terminal Taxi com. NATIONAL BANK. 67 District Farmers & Mecbanics' Federal-American Liberty . Lincoln jonal Metropoiitan Rigss . Second Nationa TRUST COMPAN American Security and Trust. Continental Trus Merchants' Banl National Savings and Trus 310 8% 5 SAVINGS BANK. Commerce and Savinj Fast Washington. Security Bavings & Com. Bug o 8y Seventh Street. . 175 United States. 320 Washington Mechanics. 31 FIRE INSURANCE. American Corcoran Firemen" National NATIONAL UNION. Received by Private Wire Direct to The Star Office Power and Light and Commonwealth Power. The former rose 7 points be- tween sales to 350 following an- nouncement that directors would sub- mit to stockholders a plan whereby the present shares of $100 par value would be exchanged for new mno-par stock on the basis of 10 shares of new for each now held. Commonwealth at 99 gained 3 points, reflecting the steadily increasing earnings. Film Inspection machine furnish:d one of the features, crossing 6 for a gain of more than 2 points. Red Bank and New England Fuel came to the front in the oil group, the former stock advancing 2 points to 56 on a large turnover and the latter gaining a like amount on only a few sales. 1 Kedm Neth'lands 6s 99% 17 Swiss Govt .oor 100% 1003 Sales STANDARD OIL ISSUES. in_wnits. 400 Anglo-Am Oil.. 200 Chexebrough ne» 100 Crescent Pipe Line 200 Galena Signal Oil.. 800 Humble 0 & R new 10 Iilinoix Pipe Line.. 1 200 Imp Oil of Ca 1 600 Int Pet Co Ltd 003, 99y 100% 305 200 i Penn Mex Fuel 210 Prairie Pipe Lin 50 2000 700 800 Southern Pipe Li 8 0 Indiana. 8 O Kanxax i S O Kentucky. hraska .. . R ew York new S 0 Onio 2 DENT OIL STOCKS. 1431 1431 1433 70 170 Hudson 0il 3% Lago Pet .....00 20 Latin Amer 0il . 6 Livingston Pet 16 Mount Prod 1 Mount Gulf _ 11 Mutual Oil vot cfs. 1 New Braa Oil wi. 1 New Mex Land 220 Ohia_Ranger dmar 0il & G 11 Peer 01l Corp . 34 Penn Reaver Oil Pennock_ 0il 7 Plerce Pet . 59 Red Bauk Oii new. 0 0 &R 1 Sait Ck Cons 4 Salt Ck Prod 1 Union 0il of ¢ 9 Wilcox Ol & & Woodley Pet 10 “Y" Oil . INDUSTRIALS. 1 Adirondack Pow.... 2 Am Gas & El nw wi 4Am L & Tract.... % Am L & Trac pfd. FPower & I ype Firs m Type Frs pid 17 Atlantle Fruit w 3 Rorden & Co . 3 Brit-Am Tob Cou. . 1% Rurr Add Mch pt 55l 1, Bur Ad Mch nw pf 101% % Bklyn City R R 1 C i oo h Cleveland Auto ‘om Power Corp. Cont Tob Inc . Cuba Co Dubilier C 1 Durant Mot Pont Mo « « ¢ ¢ « « ESS & Radio m Inspe 3 Foundation Co pfd. illette S R... n Motors new wi n " Alden 1 Hazeltine Corp wi 42 Heyden Chem 9 Hudson Co pfd. 1 Intl Contl Rubber 2 Keystone Soiether. . 1 Landover Hold C A 1 Lehigh Power ses 4% Lehigh Val Coal 211 Leh V Coal new wi 1 Mesabi Tron. 5 1M vale X = Nat Tea Co nw wi 1 0mn Co ut tr et wi 1 Pyrene Mfg 2 Radio Corp 2 Radio new 1 Reo Motors 1 Richmond ~Ray &7 Rova Rad Co tr of 3 Sil Gil Prod nw wi 20 S0 € & 1 new ... South ‘Cal Edison. tandard Motor 2 Stand Pub A 1 Stutz Motor 1, Swift & Co . 4 Tenn Elec Power. 14 Thomp Rad Co w 10 Timken Axle 1 Union Carhide - nited _ Bakeries nit Bak pfd. i | MINING. 2 Alvarado Min ..... .90 1 Am Exploration ... K7 20 Ari Globe Cop. 05 30 DIk Oak Gold Mines 14 10 Calumet Jerome... .20 33 ! 8 Con Cop Mines new 3% 10 Cons Nev Utah 08 10 Cortex Silver 8 Crown King 80 Diamondfid ~BI 10 Divide Extension.. 10 Flo Goldfield Mine. 30 Green Monster .... 10 Hawthorne Min ‘Inc .20 e But .20 01 a Bl 190 Hill Top Nevada... .04 1 Hecla Mine. - 9 130 Independence Lead. . .l? 0 e 1% 87 Lorrain Sil 8yn .51 1 Mason Valley. . 2 10 Mirpah Extension. . .07 10 Mohican Copper. 3% New Jersey Zinc.. 1 Nipissing . 5 92 Ohfo Copper. . 24 Plymouth Lead .. . 4 Premier Goid Min. 10 Red Warrior. 50 Roga 6 Rocky Mt S & 3 Rocky M 8 & R pf 10 Sil King Div M .. . 5 Bpearhead Gold .. 2 Tono Belmont 23 Tonopah Exten ... 70 Tono Jim_ Butler .. . 1 Tonopah Min .. 20 United Eastern 2 United Verde Ex 10 U 8 Cont new wi 1 Walker Min .. 20 Wenden Copper 20 West End Ext . BALTIMORE, August 15 (Special). —Steel operations in the Baltimore district ure expanding slowly, and manufacturers are more cheerful than they have been at any time this year. Buying by railroads is expected to stimulate the steel industry greatly over the next 12 months. e SEAT BRINGS $81,000. NEW YORK, August 15.—The New York Stock Exchange seat of Wynne Purviance, deceased, has been sold to | tributed SECONDLARGEST COTTON CROP SEE Growers in South Will Get $2,300,000,000 if Present Prices Hold Steady. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, August 15.—Indica- tions now point to a cotton crop which will be the second most valua- ble ever produced in the South. If prices do not suffer recessions and high prices current now are main- tained during the season, it may bring growers $2,300,000. So far the traders and speculators have made mighty little pocket money out of the situation and it seems probable the major profits will accrue to the grower rather than the traders in futures. The most valuable crop ever pro- duced was in 1919, when the South received $2.500,000,000 for 12,400,000 bales marketed that vear. The 1920 crop was worth only $1,076,000,000. Last year's crop was the fourth in value ever produced, bringing $1,895,- 000,000, including prices paid for seed The South in the last season pro duced 10,985,000 bales, but marketed 11,290,000, including linters.and cot- ton carried over from the previous vear. The average price for middling cotton was 31.67 cents a pound, com- pared with 24.06 in 1923 and 16.08 in 1920. The average value per bale was § 9 and was exceeded only in 1919, when the average was $174.58. Prices Higher Thix Year. As the price prevailing for the crop produced this year is between $20 and $25 a bale above that of last ‘year and indications are for a production of around 1,500.000 more bales than in 1923, the planters expect additional returns to the extent of about $350,000,000 in 1924. This would seem to involve good business for the south and the country generally, since the crop promises to be more evenly dis- throughout, the producing states than the last one. The prospect for continued high prices has been aided materially by the better chance of rehabilitation in Europe. The discounting of this rehabilitation in advance fs now de- clared by cotton experts to have been the real factor behind the advance in cotton prices last month in the face of prospective production above world requirements. Few traders, however, saw this angle in time to take ad- vantage of the rise. Even in the South speculators, proverbially bullish, placed more em phasis on the slackness of the goods trade and the favorable weather con- ditions. Crop Figures Vital Those who did take advantage of tthe advance held that world require- ment estimates were being based on consumption records of the last five vears rather than pre-war records and that consumption was now on its way to pre-war levels as a re- sult of the moves for European re- habilitation. If that is the case, a crop of 12,000,000 bales of lint with the smallest carryover ever known before would leave but little if any larger surplus supplies at the end of the year than existed at the enfl of the last two seasons. These men say mills need a carryover of five million bales to make them thoroughly comfortable. In the meantime, mills are mencing to add materially output. This is due to a greater number of orders coming in from merchants, especially in the rural districts, but the hope of the wholesalers and man- ufactureres that the retailers will return to the policy of ordering sea- sonal requirements months in ad- vance have not been realized and do not seem likely to be, at long as the railroads maintain prompt service now general. Retailers’ Point of View. Retailers gathered in recent con- ventions of various lines have ex- pressed themselves to this effect in no uncertain terms. They declare the wholesalers and manufactureres will have to continue to carry the stocks instead of having the retail- ers load up on them. The assert that this has worked out to their ad- vantage in more ways than one and place particular emphasis on the fact that having the maker carry the stocks has prompted greater stand- ardization, fewer style numbers and less frequent style changes. COTTON OIL MILLS FORM BIG MERGER LITTLE ROCK, Ark., August 15— Merger of a dozen or more cotton oil mills operating in Arkansas, Tennes- see, Kentucky, Missouri and Illinois, into a single system to be controlled by the National Cotton Seed Products Corporation, a newly formed Tennes- see concern, with a capital of $8,000,- 000, is announced here. The purpose of the National Cotton Seed Products Corporation was to buy, own and operate cottonseed oil mills and cotton gins in the five states named. FALL BUYING ACTIVE. New Orleans Reports ‘Wholesale Business. Special Dispatch to The Star. NEW ORLEANS, August 15.—Fall buying by country merchants is in full swing here and the current week promises to be the largest for whole- salers of the year so far. Rural re- tailers now are willing to stock up freely except those located in sec- tions seriously affected by drought. The returns for all Mississippi crops promise to be well above those of last year, higher prices compensating for smaller yields. Retail sales of men’'s clothing, shoes and furnishings has been espe- cially good this week. cdom- to their the Lively $6,000,000 LOAN LIKELY. U. 8. Bankers to Aid Potash In- Johan D. Struys for $81,000, the con- sideration unchanged from the last previous sales. P e— ‘WHEAT PRICES JUMP. -« WINNIPEG, August 15.—The wheat market was very strong and active today, with prices up more than 3 cents’ from yesterday's close. The advance was due to the heavy cover- ing of shorts. HOGS BACK TO $10.15. CHICAGO, August 15 (Special).— Good hogs were again higher from the start today. Heavy butchers had the best of the trade, and these were up as much as 25 cents in many cases. A week ago today the best hogs sold at $10.35. Today they were $10.15. TODAY’S METAL MARKET. NEW YORK, August 15.—Copper steady; electrolytic spot and futures, 13%; tin firm; spot and futures 53.12; Iron steady and unchanged lead firm; spot, 8.00a8.25; zinc stead; lombia Title. = 8% 9y Sen Estate Titte. e 1m0 ; MISCELLANEOUS, e ; Transfer & Blorage. i1 123 Mergenthaler Linotype.... Natl. Mtge. & lav. pe 2 % 014 Duteh Market com 1% 4 01d Dutch Market. pfe 3l 8 Lanston Monotype. 77 80 Security Storage B8 am ‘Washington Market.. 47 [ Yellow Cab.... TR yos *Ex dividend, East St.Louls spot, 6.20: futures, 6.20 26.25; antimon) spot, 9.12, dustry in Germany. NEW YORK, August 15.—Additional banking credit will be made avalla- ble for the German potash industry with a settlement of the reparations problem, Wall Street hears. 'Because of its American connections and the fact that it had supplied the bulk of the product used by chemical com- panies here, the German syndicate has had little trouble in financing its operation. In line with a 34,000,000 credit recently granted to the sugar industry of Germany, bankers now are considering a similar loan to the potash interédsts, which may total-as much as $6,000,000. gyl IR POTATO MARKET. CHICAGO, August 15.—Potatoes steady to firm; receipts 130 cars; total United States shipments 584 Kansas sacked Irish cobblers, 1.35a Missourl sacked cobblers, 1.30a 1.25 Maryland bulk Irish cobblers, ; New Jersey sacked Irish cob- Llers, 1.85a1.90; Kentucky sacked | Irish cobblers, 1.75a1.80; Virginia barrel cobblers, fia-s.ov, T least, as | WESTERN MARYLAND IS DOING BETTER Reduction in Earnings Being Cut Down—Coal Dullness Hits ' Road Hard. Special Dispatch to The Star. BALTIMORE, August 15.—While earnings of the Westerr~Maryland Rail- way continue to shrink, the decrease, compared with a year ago, is gradually being reduced. Report of estimated earnings for the first week of August amounted to $347,157, against $468,722 the corresponding week a vear ago, a decrease of $121,664, or 26 per cent. Drop in receipts from coal and coke traflic accounted for $83,468 of the loss. For the fiscal year to August 7 total earnings were $11,406,727, against $14,- 211,764 for the corresponding perfod in 1923, a decrease of $2,805,036, or 20 per cent. Receipts from coal and coke traf- flc were $2,272,877, or 31 per cent less than they were a year ago. Return to anything like normal move- ment of coal during the remainder of the vear would add greatly to the earning power of_this company. Receipts from those sources last year furnished ap- proximately half of ‘the gross revenues of the Western Maryland. FOREIGN EXCHANGE. (Quotations furnisied by W. B. Hibbs & Co) Nominal Selling checks gold value. today. drachma | pesets crown Copenhagen, Clristiania, Stockholm, NEW YORK, August 15.—Foreign exchanges firm. Quotations (in United States dollars)—Great Britain, mand, 4.54%; cables, 4.54%; 60-d bills on banks, mand, .0568%; cables, .0569; Ital mand, .0451; cables, .0451%; Belgi demand. .0520%; cables, .05 many, demand (per trillion), Holland, .3910; Norway, .140: -2663; Denmark, .1629; .18861%; Spain, .1354; Greece, Poland, .1914; Czechoslovakia, .0299 Jugoslavia, .0124% ; Austria, .000014 % Rumania, .0046; Argentina, .3387; Brazil, .0990; Toklo, .41%; Montreal, 99 29-32. 4.51 France, 23%; Sweden, Switzerland, L0184 BEST YEAR SINCE 1918. Procter & Gamble Business Get- ting Back to Normal. CINCINNATI, Ohia, August 1 Col. William Cooper Procter, presi- dent of the Proctor & Gamble Co.. in the company’ annual report stated that the fi 1 yvear of the company marked a further approach to normal after a prolonged period of disturbed conditions. The volume of sales for the year totaled $121.372,651 and the net earn- Ings, after providing for all reserv and charges for depreciation, losses taxes, etc, amounted to $8.629,447, the report shows. The earnings are the largest reported by the company since 1918, the report stated. SHORTS RUSH TO COVER. NEW YORK, August 15.—Indications that a considerable short interest was built up on the recent reactionary movement of the stock market was seen yesterday in the quick rebound of recognized leaders, such as Ameri- can Can, Baldwin, United States Steel and Studebaker. Volatile specialties, which recently had been subjected to short selling, also scored quick recov- eries as soon as it became evident that constructive factors were at work. GOLD SHIPPED TO INDIA. NEW YORK, August 15.—The first shipment of gold from the United States in several months was made today, when the Equitable Co. forwarded $10,000 to Ind Bankers said that at current prices of rupees it was possible to ship the | s vellow metal to India through hedging operation. It costs less to ship gold to India from the United States than from London, where India has been a heavy buyer of the pre- cious metal in the open market. NET EARNINGS INCREASE. NEW YORK, August 15.—Net earn- ings of the American Waterworks & Electric Co., Inc., foz_ the | { | | i { their reopening is double shift work- FABULOUS PROFTS I GERMAN BONIS Investment of $5 Last Year Now Worth $1,750—Rise of $150 in Week. By the Associated Press. NEW YORK, August 15.—Stories of fabulous profits from German securi- ties were being circulated yesterda when the buyers of last year who paid $5 for 1,000,000 marks of Ger- man war bonds, cashed in at the pre- vailing quotations of $1,750, a rise of $150 in the past week. Prussian war loans worth $400 per 1,000,000 marks three months ago brought ten times the original sum and other German securities rose in proportion. The rise in general was ascribed to the recent favorable report on the Dawes plan for rehabilitating Ger- many. Soon bt S o SIGN COAL AGREEMENT. British Miners and Owners See Peace for Twelve Months. Special Dispateh to The Star. 5 NEW YORK, August 15—The sign- ing of the new national wage agree- ment between the British coal miners and the coal owners, it is expected, will insure peace in this industry for the next 12 months, according to ad- vices received by the Bankers Trust Compan The agreement imposes | upon coal owners extra cost which | in the présent state of stitutes a serious handicap. Already | mines have been closed with the result that several thousand work-| men are idle. In one or two ca lieries have been closed, have stipulated that a trade con- s where col- the owners| condition of. ing. To this system the miners are strongly oppos WE FINANCE Apartment Housex Buxiness Property Rexidence Hotel: Higbie & Richardson, Inc. K16 15th St. N,W. Money to Loan Secured hy first deed of trust on real estate Prevailing izterest and_commission JOSCP}LL Wdlir 490 Wash. L. & Trust Branch Office DISTRICT NATIONAL BANK Conn. Ave. and K Street Parking Restrictions Trust twelve months ended June 30, 1924, | were $3,093,544, compared with a net | for the previous 12 months of $2,621,- 284. Net income of the West Penn Co., a subsidiary for the twelve months ending June 30, 1924, was $3 065,677, against $2,521,322 for the pre vious year, a gain of $544.355. CHANGES IN FRANCS. PARIS, August 1 s statement of the Bank of France shows the following changes in francs: Gold in hand, increased 155,000; silver in hand, increased 128,- 0005 notes in circulation, decreased 171,732,000; treasury deposits de- creased 435,000; general deposits, de- creased 121,654,000; bills discounted decreased 52.779,000; advances, de- creased 61,400,000, e DIVIDENDS DECLARED. EW YORK, August 15—The board of directors of General Motors declared today regular dividends on all classes of the company's stock. The dividends follow: Thirty cents per share, quarterly, on common; $1.75 per share, quarterly, on 7 per cent preferred; $1.50 per share, quar- terly, on 6 per cent preferred, and $1.50 per share, quarterly on 6 per cent debentures. CANAL MISSES COAL. BOSTON, August 15 (Special).—Fig- ures for the Cape Cod Canal traffic for the first half of this year, reflect the falling off in coal shipments. Only 1,369,533 tons were handled, as com- | pared with 2,123,513 tons last year. Tonnage of miscellancous freight amounted to only 399,520 tons, as com- pared with 806,863 in the first half of 1923. RAW SILK DECLINES. NEW YORK, August 15 (Special).— Raw_silk continued its downward trend in a quiet market today, prices declining 10 cents a pourd on all Japanese grades. The reductions stirred little interest among buyers. The cotton goods markets were quiet, with prices unchanged. Print cloth quotations were 9% cents for 64 by 60 and 10% for 68 by 72. —_— - SUGAR PRICES HIGHER. SAN FRANCISCO, August 15.—An increase of 15 cents a hundred pounds in sugar is announced by the Western Sugar Refining Co. and the California- Hawalian Sugar Refining Co. here, The increase, which affects both cane and beet sugar, makes the price for cane sugar $7.10 a hundred and beet sugar $6.90 a hundred. . RATES ON BAR SILVER. LONDON, August 15.—Bar silver, 33% per ounce. Money, 2% per cent. Discount rates: Short bills, 3% per cent; three-month bills, 3 13-16a3% per cent, t | | | “Park Your Car at the,Door” FOR SALE FIRST MORTGAGE NOTES Consuit Us If sou have funds for {nvestments | THOS. E. JARRELL Member Washinglon Real Estate Board. Woodward Bldg. Main 766-3370. Arnold Guaranteed Certificates Arnold Guaranteed Certificates afford a safe and prof e in- vestment for surplus funds. They are secured by first mort- Zagex on improved Income real estate nnd homes, and are a di- rect obligation of Arnold and Company. ' Tssued in amounts of $100, $500 and $1,000, to run for term of 2 to 10 years. Send for Booklet K-1 ARNOLD AND COMPANY Incorporated Capital and Surplus, $1,250,000 1416 Eye Street N.W. Telephoue Main 2434 Getting the Most Out of an Investment One of the most desirable securities to be had in the present market is Cities Service Company Preferred Stock. It combines an_ attractive income with unusual safety, and it is readily marketable. In the last thirteen vears, or since Cities Service Preferred Stock was first issued, net earnings have averaged more than three times as much as dividend requirments. This Preferred security yields 8% at its present price. Mail the coupdn today for Pre- ferred circular and for informa- tion about our monthly payment plan. Thomas W. Brahany and Company Wilkins Building, Telephome Washington, D. C. Main 6189 Thomas W. Brahany & Co., Wilkins Blds., Waskington, D. C. Please send me full particulars about - Cities Service Preferred Stock and your monthly pay- ment plan. e 734 15th Street ££ MONEY TO LOAN = $15,000 at 67 Ellerson & Wemple O LUHTE m F—F i il CONDITIONS OF THE GERMAN MARKET Male it imperat've thnt you protect your Interexts by REGISTERING YOUR STOCK AND BO! CERTIFICATE NUMBERS. Address FOREIGN BANKING 203 Investment Bidg. Franklin 3975. TODAY | ND | Vi YOU OWE Take Part Of Your Check And Begin The Ownership It May Be Part of Loans Of Only $4,100 On Beautiful Sold for $8,250. Rate of Interest 6% Per Cent— We Have Other No Risk— No Delay— MORTGAGE INVESTMENT Main 2345 TO YOURSELF— Of a First Mortgage Real Estate Note— New Residences Notes at Same Rate No Depreciation— & LUCH 14th Street IT DEPT. appéal 924 14th First Mortgage Notes Are ths type of investments that to” conservative investors. Banks Recommend Them Insurance Companies Prefer Them Courts Advise Them (the three most conservative institu- tious ove can g0 to for advice ) Buy them and the thought of worry can be dismissed from your mind. We have on hand ‘a limited amount in denominations of $10¢ and up. Bearing 7% Interest Chas. D. Sager onn Department WL Main FEDERAL-AMERICAN NATIONAL BANK RESOURCES $13000.000 1315 F ST JoHm POOLE Preswewr LY " EQUITABLE Co-Operative Building Association Organized 1879 44th YEAR COMP .., $1,248,320.98 It’s Easy to Save Through Our Systematic Plan. and xc strong. Asvets 7 will eventually be financially Let ux te you more. Subscription for the 87th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F ST. N.W. JOHN JOY EDSON, Prealdent FRANK P. RE Quarter of a Century Without a Loss Main 2100 The q uality of a FIRST MORTGAGE det the secured, of the ¢ the mor property ermined. not alone by . it is on which but : rganization that offers Iso by the quality tgage. B. F. SAUL CO. 1412 Eye St. N.\V. SERVICE and SAFETY National Mortgage & Investment Corporation 811 Vermont Avenue N.W. Deals in the Best Real Estate Securities Its 7% First-Mortgage Notes District of Columbia Real Estate, Are a GOOD INVESTMENT. Offered in denominations from $250.00 UP. For Lease International Building 1319:21 F St. N.W. Modern office building—two high-pow- ered -elect First and Second Trust Notes and Ware- house Receipts are purchased at fair rates SECURED by Linproved In the ten-story high-class ric elevators. One rcom to suites of six—heat and light. Ranging in Rental of $25 al;d Up Per Room Superintendent on Premises 22 . 1415 K St. N.W. McKEEVER & GOSS " Realtors Main 4752