Evening Star Newspaper, August 26, 1924, Page 23

~FINANCIAL, . EGG PRICES JUMP AT CENTER MARKET Poultry, Veal and Lamb Also Higher at Wholesale. Butter Unchanged. Scarcity of eggs and higher prices in the West materially affected the local market. Prices for average re- ceipts jumped to 35a36. while the se- lected product reached from 37a40. Poultry prices also have increased. due to light receipts. Live chickens were 32a36, dressed stock selling at from 35a45. Calves and lambs also were higher. The former was quoted at 10 and the latter at 13a131z. Butter prices since last week at from 45a49. Pork prices have undergone mno ohange. Supplies are light and de- mand slow. The market is steady ¥raits and Vegetablen. The daily market rcport on fruits and_ vegetables (compiled by . the Market News Service Bureau of Agricultural Economics) today says; Cantaloupes — Supplies moderate. demand moderate, market steady; Llast Shore Maryland and Delaware, £almon tin andards, 45s and short 36s. ordinary quality, low as 1.00; jumbo 36s, 2.00a2.50; California, Tur- lock section, standard crates Hones Dews, medium size, 2.00a2. Onions—Supplies moderate. demand moderate. market about steady: Mas- tachusetts and New York, 100-Ib. sacks yellow varieties, No. 1, 3.25a 250 Peaches—Supplies liberal. demand moderate. market fairly steady: Vir- ginia, fs, Hales large size, 2.50a2 6s Elbertas, larze size, poor colo-. Hileys. small to medium size Champions, larze size, best poorer. 1.50a2.00. half- bushel baskets Hileys, medium to large size, 1.00a1 East Shore, Maryland, bu. baskets Belles, fair quality, 2.50a2.75 Potato Supplies Liberal. Potatoes—Supplies liberal: demand limited; market about steady: New Jersey, 150-pound sacks Irish cob- United States No. 1, 2.35a2.50 per sack. Watermelons — Supplies moderate: demand moderate: market steady: carlot sales; Georgia and North Caro- lina, bulk per car Thurmond Grays, very small, fair quality; 135.00a150.00. Lettuce—Supplies light; demand &ood: market steady: New York crates Big Boston type, best. 230a 2.75; poorer, wide range in prices low as 1.50. Cabbage—Supplies moderate: de- mand moderate: market steady: Vir- ginia, barrel crates, round type, 1.75; New York. bulk per ton, round type. mostly 30.00. Tomatoes—Truck and homegrown receipts moderate; demand moderate; market steady; homegrown, half bushel hampers. No. 1, 1.00a150; ?’,lfl;!'land. 14-quart hampers, 1.00a have not changed Prices were quoted 2.n0a Apple Market Dull. Pears —Supply liberal: demand moderate; market steady: Oregon, boxes Bartletts, extra faney, 4.25. fancy, 3.75a4.00, Sweet potatoes—Truck and boat receipts light; demand moderate; market steady; Eastern Shore, Virginia, cloth-top stave barrells, yellow varie- ties. No. 1, mostly 9.00. Apples—Supplies moderate: demand moderate; market dull; Maryland and | Virginia, bushel varieties, 1.25a1.50 Gravensteins, fancy 3.25 COTTON SEED TUMBLES. NEW YORK, August 26.—A sensa- tional break in cotton seed prices on the produce exchange yesterday was attended by the most excited trading witnessed around the ring in_ several vears. On the opening call September dropped 137 points under Saturday's positions 35.to 68 points, while busi- ness on the call, usually completed in 5 or 10 minutes, lasted for half an hour. The violent decline in eotton, bearish Government reports and early weakness in grain precipi- tated the crash in oil prices. Moderate rallies followed and the market was finally 25 to 60 points net lower on near and 3 to 4 points lower on late months. baskets various California, boxes . small sizes, 3.00a WHEAT EXPORTS HEAVY. NEW YORK, August 26.—An un- usually big export business in wheat was an important feature of the yes- terday’s business on the produce ex- change. upwards of 3,000.000 bushels being reported besides 150,000 barrels of flour. As a result of the big demand for ocean freight room steamship rates were advanced about 50 per cent vver those of a week ago. BUY CLOTHING PLANT. MARTINSBURG, W. Va., August 26 (Special).—Kirson Brothers, clothing merchants, this city, announce the purchase of the Cumberland Valley Shirt and Overall Company equip- ment at Waynesboro, Pa., which will be moved to this city as soon as a satisfactory location is found. The price paid for the plant was not made public. The plant employs abou: 60 women and a few men. PLAN STOCK INCREASE. NEW YORK, August 26.—An in- erease in the authorized common stock of the Congoleum Company, Inc., to 1,750,000 shares trom 1,000,000 shares is planned by the directors in connection with the company's ex- pansion program. Details of the mer- ger with the Nairn Linoleum Com- pany of New Jersey are expected to be given to stockholders when they are asked, to approve the increase in capital stock. Mills are being erect- ed at Asbestos, Md.. which will in- rease plant facilities about 40 per cent. POTATO MARKET WEAK. CRICAGO, August 26.—Potatoes rather weak; receipts, 77 cars; total United States shipments, 389 cars; Kansas sacked Irish cobblers, 1.00a 1.15; few extra fancy, 1.25a1.35; Mis- uri sacked Irish cobblers, 90a1.10; Nebraska sacked Irish cobblers and early Ohios, 1.10a1.25; New Jersey sacked Irish cobblers, 1.70; Virginia barrel cobblers, 2.75a2.90; Minnesota sacked early Ohios, 1.00a1.15. Sl it 2 NEW YORK EGG PRICES. NEW _YORK, August 26.—Eggs steady. -Receipts, 22,825 cases. Near- by hennery whites, closely selected extras, 53a56; nearby and nearby western _ hennery whites, firsts to average extras, 40a52; Pacific coast whites, extras, 49%a51. BUTTER PRICES HIGHER. CHICAGO, August 26.—Butter— Higher; creamery extras, 36%a36%; standards, 36 extra firsts, 35%a36; firsts, 34a34%; seconds, 32a33%. Eggs—Unchanged; receipts, 17,793 Sabah, ~ close and other | os: BY WILLIAM F. HEFFERNAN. W YORK, August 26.—A series of ed price movements character- ized the day's dealings in the curb market. Signs of strength appeared |in certain directions but no attempt -| was made to resume the main ad- vance week. checked at the close of last The volume of business was reduced in the early dealings and as the session progressed renewed activity developed, but without bring- ing about material change in the price tendency. Some of the public utilities moved forward, but the improvement was small. American Light and Traction crossed 122 again, Tennessee Electric Power gained more than a point at NEW YORK, August 26.—Following is an official list of bonds and stocks traded in on the New York Curb Market today: Sales in BONDS. thousands, 4 Allied Packers 8s.. 3 Allied Packers Ss Alum 3 Alum 7s new ‘33 Am Gax & 3 Am Ice 75 wi Am Pow & I 2 Am Thread Co 6s.. Anaconda @ ...... Anglo-Am 0l 7ige Hardw 6155, & W 1§85 Low. 671, 8115 1081 0 5 wi.. 4 Reth Steel 7u Sk E x Bal 61x D Cons ” Textlion .. C PAB M 6lx A wi Cuban Tel 73 Deere & Co Tigi. Dertoit Edison #x 3 Duniop T & R 7. Federal Sugar 68 °33 3 Fisher Body 6y '26. . Gair. Robt 7s. Galena Signal Oil 7a ehich V H R Libby MeN & I 7 Manitoba Tower 5 Mo Pacific Ry s wi 5 Morris & Co Tias 1 Ohio Power Penn Pow & 2 Phil Pet 7l S Pub Rer of N J 6s. 18 Pub Ser of N J 7a. ES FOREIGN BONDS Gt Cons EI P 7x.. 013 Indus Bk Finld 7% Ind Bk Japan 6= wi Slan r & Co 65 e 1015 1004 in umits 500 Anglo-Am. 0il 20 Ruckeye P L. 50 Gal Sig 0l 300 Aumble 0 & R new 347 130 Imp Oil of Can... 10413 1000 Intern Pet Co Ltd. 18% 10 ) 10 Northern P L 100 Ohio Oil_new 290 Prairie Oil & Ga 100 Penn Mex Fuel 250 Pralrie P L... 3300 200 100 1 39 3 393 641 2500 Vacuum Oil &% Sales in hundreds 1 Ark Nat Gas 3 Carib_Synd. 3 Cit Serv 1 Git Serv ptd new INDEPENDENT OIL STOCKS. a4y SR s 143 S % Washington Stock Exchange SALES. hington Gas 6s '33—$200 at 1008 Warhingion Rwy. & Elec. 4s—$1,500 8¢ 7. ashington Bwy. & Blec. pfd.—7 at 74k, 3 at 7 Tiggs National Bank—10 at 20215, 10 at 10 at T1%, 2 Lanston Monotype—8 at 77%, t 7T AFTER CALx. Capital Traction—10 at 921, i Vaunington Gas Lighi— at 5014, 3 at 303 auhington Kwy. & Eiec. §. & ref. 6s ‘33— $2.000 at 99 tomac Electric Cons & i , at 99. 4 ‘Washington. Gas 6s '33—$2,000 at 102, $500 102 * C\fital Traction Co.—2 at 9235. Money—Call loans, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. American Tel. & Tel American Tel. & Telgs. Am. Tel. & Tel. etl. tr. 56.. Am. Tel. & Tel. conv. be. & Potomac 5s. stia_& Potomac gua C..& P. Telephone €. & P. Telephone o pital Traction R. R. 3 Asked. Potomac Elec. con: Potomae Elec. deb. 8s. Potomac_Electric 63 MISCELLANEOUS. Paper Mfg. 6s. . Rig: Reaity o (long): 5 Rigs Rel'::; 5!6;;‘hort] e ker. Cold Biorage 50.. Wardman Park Hotel 6s... S { STOCKS. PUBLIC UTILITY. American Tel. & Telga. Capital Traction Washington, Norfolk & Was! h. Rwy: & Elec. com. Wash, Rwy. & Elec. pfd. Terminal District Farmers & Mechanic Federal-American American Security & Trust. Continental Trust. Merchants’ Bank Natlonal Savings & Tru Union Trust.... ‘Wash. Loan & Trust. en's Kational vsion. TITLE INSURANCE. bia Title. el Estate Titie . 140 MISCELLANEOUS, D. C. Paper pfd. Transf Merel Mergenthaler Linotype Nat'l Mtge. & Iav. pfd. 014 Dutch Market com 0ld Dutch Market pfd Lanston Monotspe . Security Storage. Washington Market THE EVENING STAR NEW YORK CURB MARKET Recelved by Private Wire Direct to The Star Office 42, but Commonwealth failed to join in the advance. The annual meeting of the last numed company has been called for September 5, when stockholders will be asked to authorize an increase of 60,000 shares -of preferred stock and 100,000 shares of common to provide funds for purchase of additional stock of subsidiary companies. The new American Power and Light com- mon stock of no par value was ad- mitted and sold at 40, while the old shares were dealt in between 405 and 409. National Tea com, after losing 2 points to 223, rallied on publication of earnings for the first half year, showing $13.66 a share on the 50,000 common. 3 Cit Serv pfd B, 3 Cit Serr B cfs. $4000 Cit Nerv U ac $1000 Cit Serv ser.p 2 Creole Nynd Engineers. Hudwon Oil. 3 Lago Pet. Latin Amer_ Oil 5 135 ngwton Pet. Mount Prod. . Mutual 0il vt ot New Eng Fuel Oil siex Land Penn Beaser Of Pennock 01l Red Rank Oil new. Rosal Can O & R.. Salt Creek Con. Salt Creek Prod. o - -RB55-Ba. Woodley o Pet Allied Pack pr pfd Am G & E new wi s Am I, & Tract.. Am Am Stores Fgn Pow Dan Midland & P optd.. Atlantic” Fruit Tlorden & Co..... Kurroughs Ad “new Rurroughs Ad W pt Brooklyn City R K Campbell Soup pfd Centrifugal Ir 9 Am Arch Ark L Child Cleveland Auto ... Colt Arms ... .. Comomnweaith Pow 3 Doehler D C Co wi 9 Dubilier C & B. 2 Durant otor 3 Du Pont M East Penn % Elec Bond & Sh pfd 3§ Federal Met 5. Film Inspect Mac ¥ord Motor Co Foundation Co ptd. Garland Steamship. . Gillette 8 K. 3 Ginter to n Mot Goodyear Tire 3 Hazeltine Corp wi Heyden Chem ... Jones Radio Mfg Keyntone Solether. Land Hold Cor A Lenigh Power sec. 3 Leh Val Coal nw wi Mengel Box new wi. ,-ri Omoibus C A pf wi Omoi C v b & wi. 3 Pioes Win Frt kadio Corp . Radio Corp pid Hadio new A. 3 Kadio new- Repetti Keo Mot 2 Kosenb Rova Rad (o trc Singer Mg - o C & 1 new’ Nouthern Cal Edi Sou Cal Edi 6s ptd Bell pfd . Stutz Motor . swit lotl . Teon Elec Fower.. Thom "Kad Co vie Uoited Bakeries Cnited G & E new Uait Kerail Candy. U'S Stores A Ward Tuk Co B wi Ward Bak Co ptd Ware kadio (o wi Western' Fower Yellow Taxi ¢ MINING. Black Oak Gold M. averas Copper. Canario. Copper. Con Cop Mines new Cortex " Silver: Crown King Con. Dismondfield B B Ely Con.. Eng Gold Eareka_Croesus. Flo tGoldfield. Flo Div C.0.D R wi . 10 Goldfeld Deep M.. . Gold Nuate Gold Zone Hardshell 3in Hawth Mines Hill Top Nev Hecla Mine 100 Independeace 41 Jib Cons 12 Kay Coppe 18 Lor il Sy lid Nevada Hills Mio. dx Sil Horn ng Oblo Cep Plymouth Lead Min . Premier Gold Min. Red Hill Florence . Reorg Div_Asgex. .2 Rky Mt 8m & Ref Rky Mt 8 & R ptd Spearhead Gold Tonopah Divide Tonopah Extens Tonopah Min Trinity Cop . United Easter ... U'S Coatin new wi . 2 Unity Gald - Wenden Copper. End Consol P YT ~5282Ee5EN. 8 WILSON FIRM HEAD STUDIES NEXT MOVE By the Associated Press. NEW YORK, August 26.—Thomas E. Wilson, head of Wilson & Company, Chicago packers thrown into receiver- ship in Trenton, N. J, upon petition of a minor stockholder, conferred here today with bankers gnd counsel for the company to map out a course of action in contesting the proceedings. Counsel for the company were under- stood to be considering a counter action, but aside from asserting that the proceedings in New Jersey would be vigorously opposed they declined to reveal what legal steps were con-' templated. |JULY RAIL EARNINGS ARE UNDER YEAR AGO By the Associated Press. NEW YORK, August 26.—Railroad reports for July continue to show smaller earnings by many carriers in comparison with July, 1923° The New York Central's net operating in- come fell to $5,143,937 from $7,604,768, and gross declined from $35,867.105 to $29,523,337. Delaware, Lackawanna and Western had net of $1,386,372 against $1,778,639 a year ago. The Erie, including Chicago and Erie, re- ported net of $1,175,924 compared with $1,497.423. Pere’ Marquette was an exception, net operating income having jumped to $780,081 from $442,056. Buffalo and Susquehanna had a deficit for the month. of $8,251, against net operat- ing income of $49,712 in July last year. ol el R 00 CALL MONREY STEADY. NEW - YORK, August 26.—Call money steady; high, 2; low, 2; ruling rate, 2; closing bid, 2; offered at 2%: last loan, 2. Call loans against ac- ceptances, 1%.. Time loans firm, mixed collateral, 60-90 days, 2%a3: 4-6 months, 3a3%. Prime commer- clal paper, 3%a3%. —_— FLOUR 15 CENTS LOWER. MINNEAPOLIS, Minn., August 26.— Flour, .10 to 15c lower at 7.35a7.40 a barrel. Shipments, 65,616 barrels. Bran, 25.00.. Wheat, No. 1 northern, 1.23a1.28; old September, 1.23; new September, 1.23; old December, 1.26% ; new December, 1.27; old May, 1.31%; new May, 131%. Corn, No. 3 yellow, 111%a12%. Oats, No. 3 white, 44 FINE STATE ROADS BRING IN MILLIONS Tourists Now Spending Vast Sums in Localities Having Best Highways. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, August United States with nearly 15,000,000 aulomobiles in operation has be- come a nation on wheels and there has been a marked profit to those communities which have invested money in bullding and maintenance of roads, on which those wheels must run. The tourist business has be- come one of the really big industries of the country and reports from vari- ous scenic centers in the last few weeks show beyond question that the public is using its cars for sight- seeing purposes. Wealth in quantities is spent where tourists go and such traffic is a spot cash business running into the hun- dreds of millions of dollars annually. It is increasing in direct proportion to the improvement of roads and highways. This is conclusively shown in the case of California, which laid out a far-sighted plan years ago to tract tourist trafic from other ates and hold it. Rowds Bring in $80,000,000. Prior to the San Diego_and San Francisco expositions, the State laid a great network of concrete boule- vards, fifteen feet widé and four inches thick. The State engineers knew this roadbed was not heavy enough to hold future traffic so the. called these roads a “base.” planning later to put on a top surfacing. In 1915 the State had completed 575 miles of the heavy surfaced roads and today has 3,500 miles of perma- nent concrete highways six to eight inches thick and 20 feet wide in many sections. As a result there were 300,000 mo- tor tourists in California in 1923 ac- cording to the State automobile as- sociation, who spent an average of $10 a day apiece for an average stay of 30 days. That put about $30,000.000 from other States in circulation in California, and experts confidently ex- pect this sum will grow to over $100,- 000,000 for the current year. 26.—The Huge Trafic in Northwest. The State of Washington, with over 1,000 miles of concrete roads, is com- ing in for its full share of such traf- fic. The Seattlt Chamber of Com- merce states that in one month this summer, 15,004 cars from 30 States. Alaska, Hawaii and other places en- tered Blaine alone on the way to British Columbia. _In 1923 some 63,000 cars entered British Columbia trom the United States and Dominion officials place the value of tourist traffic to Canada at $136,000,000 annu- ally. In Colorado there were 643.015 campers cared for in the automobile camps of that State last vear, and with favorable weather that total will undoubtedly be surpassed this season. lowa has over 200 tourist camps scattered within its borders, each attracting its quota of tourists So valuable has tourist travel become to Wisconsin that some sections of the highway are patrolled by Boy Scouts, who act as guides to the trav- elers. The 2.500 miles of concrete highways in New York have been the drawing card which has pulled motorists from every section of the land. Park Fees Count Up. Even the Rovernment is showing a direct profit from its roads in na- tional parks, although not benefiting from the ordinary day-to-day expend- itures. Since 1916 $1,443.600 in Fed- eral ‘funds have been used on roads in the parks and in the same period $1,511,233 have been collected in fees trom automobiles using these road It is expected between 300,000 an 400,000 automobiles will visit the parkes this year, and an appropria- tion of $7,500,000 has been made for road construction within their limits in the next three years. MAY SEEK NEW LOAN. French Government Likely to Need i More Funds Fron U. S. NEW YORK, August 2" —Negotia- tion of another loan to the French government may follow the expira- tion of the $100,000.000 credit granted last March by J. P. Morgan & Co. to the Bank of France for the purpose df stabilizing the frars, bankers indicated yesterday. Terms of the Morgan advance, per- mitting the revolving use of all or any part of the $100.000,000, provided for repayment within six months, which would bring the maturity in September. Probsbly fotation of the $200,000,000 international loan to Germany, early in October, it is be- lieved, would preclude the sale of a French loan at that time. Wal), street heard yesterday that the Morgan firm might extend tie original credit Ford’s Railroad Gains $1,000,000 In Six Months By the Associated Press. NEW YORK, August 26.—Gross revenue of Henry Ford's raiiroad, the Detroit, Toledo and lIronton, increased more than $1,000,000 in the first six months of 1924, com- pared with the same period of 1923, reaching $6,031,614. Net in- come totaled $1.510,227, a gain of 5 per cent. The road, which was bought for $5.000.000 a few years ago, handled its largest volume of traffic in the first four months of the year, but, despite this, transportation costs were reduced to. $1,712.281, compared with $1.780,393 in the first half of 1923. SALESMEN CONDEMN SMALL LOT BUYING Policy, m;wever, Is Rapidly Gain- ing Favor With Retail Merchants. Special Dispatch to The St NEW YORK, August 26.—From hand to mouth may be all right for a banquet table, but when applied to buying it is bitterly opposed by the 2,000 delegates to the National Coun- cil of Traveling Salemen's Associa- tions, which met here today. They declare this policy on the part of re- tailers is entailing higher costs on consumers. They admit, however, that retailers are as firm in favoring this policy as they are in opposing it. Outside of this factor, the general consensus of opinion among the dele- gates from widely scattered sections seemed to forecast excellent business throughout the remainder of the vear. . RENTS ARE LOWER IN ATLANTA, GA. Thousands of Families Plan Move to Suburbs—Rates Cut on Apartments. Special Dispateh to The Star. ATLANTA, August 26.—Building, especially home construction, is ex- periencing a revival here. Permits fs- sued so far this month already have surpassed the July total of $1,750,000. Lumber prices are firmer. Thousands of families are prepar- £ to move September 1, the ma- jority drifting toward new homes in the suburbs. As a result, medium- priced apartments now are renting for 10 to 15 per cent under prices current this spring. Rents of the more expensive apartments remain unchanged. GASOLINE 12 CENTS IN TEXAS PRICE WAR State Reports Remarkable Gains in Vegetable and Fruit Shipment: Special Dispateh to The Star. FORT WORTH. August 26—An- other gasoline price war has broken out in Tesas and sales are reported as low as 12 cents a gallon. Com- pared with last year Texas fruit and vegetable shipments are showing a remarkable gain. Watermelons have been more plentiful this season, but prices for this product have been lower than in 1923, Cotton picking is general over north and west Texas. Leaf worms have appeared in some sections and the vield per acre will be less than last season. Acreage, however, has increased DECLARES LAND BANK SYSTEM PERMANENT Farm Loan Board Member Reports Amount of Funds Loaned in Four Years. By the Associated Press. CHICAGO, August 26.—An average of $831,903 has been loaned through the Federal Land Bank system during the last four years, Elmer S. Lendes, member of the Federal Farm Loan Board, declared here in an address before the American Association of Joint Stock Land Banks. ‘There were 202 individual borrow- ers in this period, he said. “Daily $716,867 bonds were issued during the same period. providing the necessary funds for the banks and at the same time furnishing a most excellent in- M| vestment for the consuming publi the speaker added. ,“The keen sense until later in the year when the ad- vance might be placed on a perma- nent basis through the sale of a bond issue. RIS - TR WILL OPEN BIDS TODAY. Bids for certain parcels of property along the Hoboken water front and back of the Hoboken Short Line Rail- road will be opened in the New Jer- sey-port today as scheduled, the War announces today, despite several pro- tests against the proposed sale. The bids will then be forwarded to Wash- ington for the final decision of Secre- tary Weeks. The property offered does not com- prise the railroad itself, in which the port authority of New York has in- dicated a vital interest. A would-be purchaser of the railroad whose identity has not been revealed by the War Department recently filed an offer of $1,000,000 for it, and Peclared his willingne: to let the proposal stand until negotiations with the agency of the City of New York were completed. SUGAR CROP INCREASES. SAN JUAN, Porto Rico, August 26. —The insular government today an- nounced that the last sugar crop to- taled 447,587 short tons, an increase of more than 68,000 tons over the previous crop. The amourt remain- ing for export is estimated at 50,000 tons. PARIS BOURSE UNSETTLED. PARIS, August 26.—Prices moved irregularly on the bourse today. ‘Three per cent rentes, 54 francs 20 centimes. Exchange on London, 33 francs 15 centimes. Five per cent loan, 68 francs 20 centimes. The dol- lar was quoted at 18 francs 50% cen- times. —_— A Word to Speculators. It you must speculate select a reputable broker who holds member- ship in a recognized stock exchange. Exchange requirements, in them- selves, are some protection, as its members must comply with business ethics as provided by rules and regu- lations. 1f a member violates these rules, he hazards his membership, i3, Flax, Nop 1, 2443248 __ lwhich is usually bis greatost ssasty of responsibility of the system and its Nonesty of purpose were so out- standing as to insure its absolute per- manenty.” 7 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY BOSTON, August 26.—Nine hundred tons of Belgian brick have been re- ceived here for use on local construc- tion jobs, the largest shipment ever reaching this port. ATLANTA, Ga., August 26.—South Georgia land values have got back to pre-war levels as.a result of the large and profitable tobacco crop which now is being marketed. CLEVELAND, August 26.—Kait goods and wearing apparel factories here are operating at a rate equal to that of a month ago, but sales have shown an increase and prices are firming. FORT WORTHy August 26.—The first experiments in broomcorn cul- ture in west Texas have produced profitable results. The acreage this Year was confined to the Hamlin dis- trict, where threshing now is in prog- ress. BOSTON, August 26.—Several re- finers and distributors have cut the price of gasoline 1 cent a gallon to 20 cents. . SHREVEPORT, August 26.—The 210-mile gas line connecting the fiorth Louisiana fields with Beaumont, Tex., will be completed by November and will cost the Magnolia company $8,000,000. AUGUSTA, Ga, August 26.—North Georgia peach and watermelon grow- ers are receiving satisfactory prices for their produce since production is not sufficient to flood Northern mar- kets. ST. LOUIS, August 26.—Early esti- mates of a crop totaling 1,000 car loads of watermelons from central and southwestern Missouri have been cut in half as a result of wilt. PHILADELPHIA, August 26— Sales of wall paper here are running about 10 per cent under those of last Yeak. Prices howoyer, are frm. WASHINGTON, D. C, TUESDAY, AUGUST 26, 1924, BUSINESS REVIVAL DECLARED AT HAND Publisher Insists Merchants’ Opportunities Are as Great Today as Ever. o By the Associated Préss. MEMPHIS, Tenn.. August 26.—Ad- dressing the 10th annual convention of the Cotton States Merchants As- sociation today, C. J. P. Moonye, pub- lisher of the Commercial Appeal and vice president of the Assoctated Press, predicted a revival of business activity in the immediate future and declared that the merchants’ oppor- tunity is as great today as it ever has been. Progress Made Simce 1914. Reviewing the past decade Mr. Mooney contrasted the situation ex- isting in August, 1914, with that ot today and declared progress had been achfeved. “And yet' he continued, “it is the same old world. The same things that were required for success in life, in business, in social relations in 1914 are necessary today. You may not earn your bread in the sweat of your face—then you will have to earn it in the activity of your trained mind. If you let up in working with your hands you must compensate by working with your brain. And tne more civilization develops and tne more closely the world gets together, you will be needed. But as metnods of business change you must change your methods. New Machinery Needed. “Pocket your losser in old ma- chinery and get new, but watch your junk and discard heap. Do not be too eager for new things. Do not con- fuse novelty with merit. 1If there is need for your business, though 1t may be mouse trap making, you can have a moderate success at it. Do !10[ confuse legitimate buying, sell- ing. merchandising, with speculation. You cannot be a merchant and a speculator at the same time.” BUILDING PICKING UP IN SAN FRANCISCO Hotels Expect Record Winter Travel—U. S. Ships Get More Passengers. Special Dispateh to The Star. SAN FRANCISCO, August 26— Home building, which has been in a slump during’ the early summer months has become active again and approximately $1,000,000 worth of | dwellings have been placed under | contract by big realty firms. The re- |newal of building really is an ex- pression of faith in the future as de- mand has not increased to any large extent. Indications are, however, that the winter volume of home sales will be up to the standard of past vears Hotels report that reservations are plling up rapidly and railroad pas- senger men anticipate that winter travel to the Pacific Coast will equal or exceed that of last year. American vessels in the trans-Pacific trade are carrying almost double the number of passengers being transported by Japanese lines and those of other nations. 7 S ga RAW SILK CHEAPER. NEW YORK, August 26.—The raw silk markets showed a slight re- “sion today. with business quiet Prices were down 5 cents a pound| on all Japanese grades, but Cantons remained unchanged. = The cotton goods market continued quiet, but was fairly firm. Print cloth quota- tions remained at 9 cents for 64 by 60 and 10 cents for 68 by 72 PR MACK TRUCK SALES. NEW YORK, August 26.—Net sales of Mack Trucks, Inc. in the first six months of 1924 totaled $23.685,81. a gain of $136.581 over the same period last year. Net profits fell to 33,450.- 616 from $4,044,476 a year ago. Sur- | plus applicable to the common stock | after preferred dividends was $2.¥%1 T:l\.’ against §3,4 00 in the first half | FOR SALE FIRST MORTGAGE NOTES Consult Us 1f you bave funds for investments THOS. E. JARRELL Membor Washingion Roal Estate Board. ‘Weodward Bldg. Main 766-3370. First Mortgage 6Y2% Gold BondsYielding About ' 6.809% We recommend for invest- ment The Willys-Overland Co. First (closed) Mortgage 6%% Sinking Fund Gold Bonds, due September 1, 1933. Price at the Market Circulor with complete information - on request The National City Company Washington—741 15th St. N.W. Telephone—Main 3176 EQUITABLE Co-Operative Building Association Assets .. . - -84,755,170.53 Surplus . . .$1,248,320.98 It's Easy to Save Through Our Systematic Plan. —and you will eventually be financially strong. Let us tell 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, President ' FRANK P. REESIDE, Sec’y. .23 Money to Loan Secured by first deed of trust om real estate Prevailiog interest and_commission Joseph I. Weller 422 Weub. L & Toust FINANCIAL." FEDERAL-AMERICAN NATIONAL BANK RESOURCES $13.000.000 1315 F ST Money Available for First Deed of Trast Loans 6347 Interest Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. Wanted Second Trust Notes We have clients with funds to purchase good SECOND TRUST NOTES in denomina- tions of from $500 to $10,000. Low rates if security is good Apply at Once to Our MORTGAGE DEPARTME (SO & Lo 713 and 715 14th Street N.W. Main 2345, Very Desirable Offices —in our bank building, fac- ing New York Avenue, now available. Reasonable rent. Apply main floor. CITIZENS’ SAVINGS BANK 1336 New York Avenue FIRST MORTGAGE NOTES— Secured by When Buying Our 7% First Mortgage Notes You Can Be Assured Improved Real Estate in Washington Worth Double the Loan— Yield 615% Denominations of $100 Up Partial Payments Arranged and con- bas been First.—A very careful servative appraisal made. = Second.—The loan we recommend is less than 50% of the market price. Third—After you have purchased one of our notes you get a #ervice that assues you inter- est the day due. Notes on hand in amounts of $100 up. Chas. D. Sager 924 14th St. N.W. Loan Department 713 and 715 14th St. N.W Main 2345 38 Main 37 MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Rt H Hopner ¥ %, 1207 Conneclicat Jywime Capital & Surplus, $2,000,000.00 It Costs No More —to have your estate set- tled by a Corporate Trustee or Executor, such as this company, than by an indi- vidual acting in similar ca- pacity. | The fees are fixed by law and are the same in both instances. A good point to remember WHEN YOU WRITE YOUR WILL. National Savings & Trust Co. 57th Oldest Savings Depository in Washington Year Cor. 15th and New York Ave. 15000 SHARES The Toledo Edison Company 7% Cumulative Preferred Stock Series “A” Par Value $100 Per Share Authorized by the Public Utilities Commission of Ohio HE Company does practically the entire electric light and power business in the city of Toledo, Ohio, and surrounding suburbs, and also furnishes electric power at wholesale' to other public utilites outside Toledo. The total population served directly and indirectly is about 320,000. The Company furnishes under a long term contract all the power for the operation of the electric railway properties in Toledo, %s well as a number of interurban railways. In addition, the Company does an artificial gas "i'h::dbm“ business and a hot water heating business in ‘oledo. Dividend - requirements on all Preference Stock, in- cluding this offering were earned six times during the twelve months ended June 30, 1924, As of the same date, after deducting all senior securi- ties, there were over $500 in assets for each $100 share of Preference Stock. This offering is limited; orders accepted subjeet to allotment. Price 98 and accrued divi- dends to yield about 7.149, Henry L. Doherty & Company 60 Wall St. New York Washington Representatives Thomas W. Brahany & Co. Wilkins Building, _\anl'n‘ton, DC