Evening Star Newspaper, September 2, 1924, Page 27

‘ FINANCIAL. DRPLTRY CHEAPER BEEF INDENAND Butter and Egg Prices Are Same as Last Week in Wholesale Market. Tncreased demands for beef and tower prices of poultry were the fea tures of the market after the holiday. Demands for beef were greater this ny ing than at any time the past few weeks, the demands being for top quality. The market on all meats was reported steady, with practically no change in pric Poultry receipts an extent that prices dropped. Live chickens were quoted at 30 to 35, dressed stock prices being 35 and 40. There has been practically no change in prices of butter and eggs since last week. Butter prices were quoted at 43, 15 and 48, increased to such Fruits and Vegetables. The daily market report on fruits and vegetables (compiled by the Mar- ket News Service Bureau of Agricul- tural Kconomics). today says: Cantaloupes—Supplics moderate, de- mand and trading light: market dull. Delaware, standard almon tints hest, 1.25a1.50: ordinary condition, 50 a7s. California standard crates honey 30 ipplies moderate, demand trading light; market steady. husetts and York, 4 sacks, yvellow varieties No. 1, Prices Lower. polies heavy. and trading light: market Virginia, sixes Relles overripe, Elbertas best, 1 ripe, demand weaker. 1.00; some supplies light: rket steady: 3 . cloth-top stave vellow varieties. No. 1, few Potato, moderate upplies liberal: demand u. Dock sales— loth-top barrels. bblers, No. | Applex at Standstill. Supplies liberal: practically very few sales: Virgin bushel baskets. various varieti 1.00a15 Letty slow. market dull Big Boston typ and condition, best, 501,00 Cabbage—Supplies and trading light, market steady; 3 barrel crates, round type. ew York, bulk, per cw round type, 2.00. Tomatoes—Supplies liberal; demand and trading light. market steady: home-growns, one-half bushel ham- pers. No. 1, 50a1.00. Prunes and damsons—Supplles lght: Virginia, practically no demand rance quality 00 wide 15 light: demand baskets, NEW FINANCING HEAVY. August Record Far Above Same Period Last Year. NEW YORK. September 2.—A increase in August financ in the total issue of new securities, exceeding th month last year by $134.797,600. but which was about $3/600,000 less than July. New road obligations ag- gregated $1 5,000, about % 110000 more than in August, 1 g Washington Stock Exchange | SALES. | Capital Traction w8500 at 95, 3300 at 98. | €abital Traction Co tt gani AFTER CALL. Gas Light—10 at 5015, 12 )y at S1.000 at 95, Gas 6% 33-"£1000 ut 102, $3,000 —10 av T4 | S—$3.000 mt 981, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Bid. 973 Poton Money Asked Pot Anacostia & C& P Telepho T oia] 741, 957y STOCKS. PUBLIC UTILITY. National Metropol lita Seventh Street United ,States. . ‘Washington. Mec! FIRE IN: National TITLE INSURANC Columbia Title. Beal Estate Titl ergenthaler Linotype. 100- | . bushel basket Elber- | —Supplies liberal; demand New York, crates, | poorer. | THE EVENING STAR, WASHINGTON, D. C, TUESDAY, SEPTEMBER NEW YORK CURB MARKET BY WILLIAM F. HEFFERNAN. NEW YORK, September 'he advance was resumed in practically all quarters of the curb market to- day, but was not as pronounced as &t the close last week. ‘The ol's came in for more attention in re- sponse to optimistic statements by officlals of the industry. An opening advance of Y points in the high-priced Standard of Ohio featured dealings. Prairie Oll ana Gas gained 1% points at the start but was held in check later by proit- taking sales. Standard of Indiana and New York did better, but im- provement was contincd within a point. NEW YORK, September lowing is an official list of bon, stocks traded in on the New Curb Market today: Sales in BONDS. ol "33 .. 31 Am Gax & Elec 16 Am Ice 7 . 1 6 Anglo Am - Oil 6ALG & WIS MO & O owi o] 1031, g 10050 Bait 61,5 I xtiles Sx .. T M 618 A L P 8iys “nter 11 Swiss Govt Sales STANDARD OIL in_units, 800 Ancio- 90 Ruuckes ) 300 Humbie Oil & 200 Imp Oil of Can Ind P L. 2 Inter Pet Co Lid. N Y Transit ... Ohio Ol .. Prairie Oil & Ga enn Mex Fuel mer Ot . | Sales INDEPENDENT oIL in hund & Service pf v pfd B - $1.000 Cit_Serv e 11 Creole Synd S0 Engineers Dot Livinzston Dot Mount Prod. .. Mount Gulf Mutual Ofl vot ] Red Bank Oil. Royal Can 0 & K.. Sat Cktrod K new Allied Pack pr pfd Am Gas & El new S om s a Al 3 Armour & (o ptd Atlantic Frait Borden & Co . Bklyn City R R Rurr Add Mach Centrifug. ro Chic' X Continental Tob Cuba Co .. Dubi i 5 Durant Motor . ) Goodyear ' Hazeltine Corp _.. EAREERECED 2l 47; Middle West 1 Nat Distille mnib Cor A pf wi.. 3 0y & Omnib Co v tr of wi 1. 1 Reo Motor 17 1675 15 Singer Mfg.. 160 CLOTH PRICES LOWER. Slight Recessions in, Today's Dry Goods Trading. Special Dispatch to The Star. NEW YORK, September, 2.—The post-holiday opening of the cotton goods markets today brought fur- ther slight price recessions in a num- ber of lines, with business generally quiet. Print cloths were quoted at 8% for 64 by 60 and 9% cents for 68 by 72, a reduction of an eighth cent in the former and a quarter cent in the latter. The raw silk markets opened firm, with increases of 2% to 5 cents' in some Japanese grades. 160 DAIRY PRODUCTS. BALTIMORE, September 2 (Special). —Live poultry, spring chickens, pound, 25a32; old hens, 18a26; leg- horns. 24a29; old roosters, 15; ducks, 15a22; pigeons, pair, 20a25; Guinea fowls, each, 60a85; old ducks, 15a18. Eggs—Native and nearby firsts, doz- Natl. Mtge. & Inc. pfd. 0ld Dutch Market cor 014 Dutch Market pfe Lanston M en, offered, 37%; bid 36; receipts, 755 cases. Butter—Creamery, good pound, 37a39%; prin nearby creamery, 34a36; store packed, 27; process to fancy, 39%a41% les, 30a32; utter, 34a35, 2 | T Recelved by Private Wire Direct to The Star Office Red Bank lost 2 points when it sold at 44, but it was evident that the selling was by profit takers. Opera- tions for the rise showed signs of getting under way again in Creole Syndicate and Lago Petroleum, which ¥old above 8 and 5, respectively. The new Jones Radio shares con- tinued in demand at new high prices, while Rova was taken within a frac- tion of its previous record high. Little feature developed among public utili- ties. Tennessee Electric Power du- plicated its high of 68% in response to increased earnings. Signs of increased activity came the market for the mining 140 Hamil Div.... 10 Hawthorne M In i Hollinger 21 Mi 1 Tonopah ~Belmont . 16 Tonopnh Exte 1 Tonopah M 1 W W West T White e L PARIS MARKET QUIET. Paris, September 2 Prices were | quict on the Bourse today. r cent rentes, 53 francs times; exchange on London, centimes: 5 per cent loan. 67 francs 85 centimes. The dollar was quoted at 18 franes 43 centimes. Caps S DEPOSITS FALL OFF. CHICAGO, September 2.—Savings deposits in federal reserve banks of Ilinois, Indiana, lowa, Michigan and Wisconsin fell off 1 to 8-10 per cent during the past month, now totalling $906,083.770. They are still 45 per cent over this time a_year ago. Attractive Securities for Investments of your September Funds Our September bond cir- cular covering a broad range, lists more than 65 issues recommended for investment at this time. Circular 1will be mailed upon request The National City Company Washington—741 15th St. N.W. Telephone—Main 3176 First Mortgages Are Always Paid First That’s why our First Mortgage Notes are as good as gold. They are secured upon Improved Real Estate in Wash- ington, which is worth double the full amount of the loan. The inter- est rate is 6)4%, and notes are issued from $100 up. Partial pay- ments may be arranged. Mortgage Investment Dept. (SHANNON & TucHy 713 and 715 14th St. N.W. Main 2345 STOCKS and BONDS New York Stock Exchange Chicago Stock Exchange New York Curb Market Association WOOL PRICES HIGHER. September Opens With Advance of 2 to 5 Cents. Special Dispateh to The Star. BOSTON, September 2.—September in the raw wool markets began with prices from 2 to 5 cents a pound above early August levels. Attention of dealers is focused on openings in forelgn markets. The Brisbane Fall season, opening today, was expected to show prices up from 5 to 10 per cent over the last sales. The local trade enters the Autumn season highly optimistic. A Word to Speculators. If 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, which is usually his greatest asset. FOR SALE FIRST MORTGAGE NOTES Consult Us 1f you have funas for investments THOS. E. JARRELL Member Waskington Rcal Estate Board. Woodward Bldg. Main 766-3370. EQUITABLE Co-Operative Building Association Organized 1579 44th YEAR COMPLETED Asnets .. een..$4,755,170.53 Surplus $1,248,320.96 It's Easy to Save Through Our Systematic Plan. 9 you will eventually be finascially 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, Secy. FEDERAL-AMER! NATIONAL BANK RESOURCES $13.000.000 1315 F ST Jonw PoOLE Paesmen We offer a limited number of Trust Mortgage Notes secured on high-ciass north- west property close to Six- teenth Street. These notes, in de- nominations of $250, $500 and $1,000 bear 7% interest per annum. If you are seeking a sound conservative investment for your surplus funds, yielding an unusually good return, investigate this offering. Moore & Hill Inc. 730 17th St. N.W. (Member Washington Real Estate Board) A Year’s Bond Interest Earned in Two Months Citics Service Company earned in the first two months of 1924 sufficient to pay interest charges for the entire year on all its Debenture Bonds now outstand- ing. Interest charges on these bonds, which have always been earned at_least 6 times over, are met prior to the payment of divi- dends_on outstanding Preferred and Common Stocks which have a present market value of about $120,000,000. At the present market this un- usually safe Bond, Series D, may be purchased to yield about 7%, Mail the Coupon today Thomas W. Brahany & Company Wilkins Bldg., Washington, D. C. o = - - -] | Thomas W. Brahany & Co. ‘Wilkins Bldg., Washington, D. C. Please send me full informa- tion about “D" Debenture Bonds. !, | | Dean, Onativia & Co. Stock Exchange Building New York MEMBERS N. Y. Cotton Exchange Chicago Board of Trade N. Y. Produce Exchange Minneapolis Chamber of Commerce WASHINGTON OFFICE Main Floor, Woodward Building Phone Main 2040 JOHN CALLAN O’LAUGHLIN Mamager Money to Loan Becured by first Geed of trust o real estate Prevailing interest and_eommissior Joseph I. Weller '3 Fegn i 3 T 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 DEPARTMENT (AN & LUCH) 713 and 715 14th Street N.W. ern Maryland Banks have made such wonderful progress as has the Clinton Bank. June 6th, 1920, this Bank opened for business with de- posits of less than $2,000.00 and about , South , 18 accounts. Today the accounts number more than 1,000 and the deposits about $250,000. The Clinton Bank will eventually be the Our First Mortgage Notes Are the type of investments that &ppeal to conservative investors Banks Recommend Them Insurance Companies Prefer Them Courts Advise Them thres most conservative fnstito- tions one can g0 to for adrice.) Buy them and the thought of worry can be dismissed from your (the Oy < mind. We have on hand a limitea amount in denominations of $100 and up. Bearing 7% Interest Chas. D. Sager Loan Departm 924 14th St. N.W. S largest Southern Maryland Bank. The Clinton Bank Clinton, Maryland W. Gilbert Dent President J. Frank Den Cashier e 1924. FINANCIAL. MONEY TO LOAN ON FIRST MORTGAGES AT i CURRENT RATES OF INTEREST . 7207 ("gamwrfi'ca/ uenae ent ~ v Main 37 33 R 2T Opposite New Hitz Bldg. Walker Hotel Conn. Ave. at L St. FOR RENT Dentists or Physicians This building is especially adapted for their use. Located in the heart of Washington’s fastest growing uptown business section—within walk- ing distance of most of the Government depart- ments and banks—accessible to car lines. For Particulars Apply Randall H. Hagner & Co. 1207 Connecticut Ave. D /2L L2200 2 L L LI L7 2777 272111721727 111 L0 PP 2 2L LA L L LT LTI I L IO N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N K N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N $30,000,000 Kingdom of Belgium External Loan Twenty-Five Year 6Y:% Gold Bonds To be dated September 1, 1924 To mature September 1, 1949 Redeemable as a whole or in part, at 105% and accrued interest, at the option of the Govern- ment, on d after September 1, 1939. Monthly Sinking Fund payments commencing October 1, 192}, at the rate of $1,200,000 annually will be used to purchase Bonds, if obtainable, at not exceeding 100% and accrued interest, any unexpended portion of the monthly sinking fund payment at the end of any month to be credited against the mext payment. Interest payable March 1 and September 1 Principal and interest payable in United States goldvcoin of the present standard of weight and fimeness in New York City, either at the offices of J. P. Morgan & Co. or of Guaranty Trust Company of New York, without deduction for any Belgian taxes, present or future. Coupon Bonds in denomination of $1,000 and $500, not interchangeable. J. P. MORGAN & CO. AND GUARANTY TRUST COMPANY OF NEW YORK, FISCAL AGENTS The following statement in regard to these Bonds and to the general resources of Belgium has been prepared from information furnished by M. Georges Theunis, Premier and Finance Minister of the Kingdom of Belgium: PROVISIONS are to be nant that if in the future it shall issue by public subscri The Bonds are to be direct external obligations of the Kingdom of Belgiam. They ed under a Loan Contract in which the Kingdem of B iam will cove- ion any lean having « lien on any spe- cific revenue or asset, these Bonds shall be secured equally and ratably with any such loan. The proceeds of these bonds are to be used to retire $18,500,000 Five Year 6% Gold Notes due January 1, 1925, and $8,559,445 6% Treasury Notes due January 1, PURPOSE 1925, and to that extent this F.CONOMIC CONDITIONS Economically Belgium has recovered from the war. tically as large as in the years immediately preceding 1914. been reconstructed with more modern and efficient machinery. no unemployment in the country. Belgium’s chief industries, has attained or surpassed the prewar level. DEBT Armistice), of which the external debt in the hands of the ent bond issue and to the retirement of the 6% Dollar N 666,000, calling for interest and sinking fund payment BUDGET The debt of Belgium on June 30, 1924, consi: does not increase the debt of Belgium. Agricultural luction is prac- I ustrial plants have There is practice 'y The output of the metallurgical, textile and glass industries, d of internal loans of 31,985,923,694 francs and external loans amounting, at present exchange rates, to approximately $451,000,000 (not including $171,780,000 advanced by the United States Government prior to the public, after giving effect to the pres- maturing Januery 1, 1925, is $161,- $16,709,000 per annum. As a result of its policy of increased taxation and reduced expenditures, Belgium as made considerable progre: based on actual results for the first seven month. francs German reparation payments of which over 80% has already been recei the general and reconstruction expenses of the toward budget equilibrium. show that revenues, is Estimates for 1924, "7 1,300,000,000 , will exceed all Government, exclusive of 857,000,000 francs to be spent an capital account for public works and railways. Taking into account the expected that in 1925 Bel, pected yield from the new tax measures now before Parliament, it is n revenues from taxes and operation of public properties will be suf- ficient to balance all expenditures by the Government exclusive of expenditures on capital account and reconstruction. The Government has announced a policy of limiting reconstruction expendi- ture be which it ed from Germany. estimated will not exceed 1,500,000,000 francs after The London Agreement having be ments concerned, after due ratification by the legislative bodies of France and G. tion payments to Belgium, available for reconstruction and debt the provisions of the Dawes plan. The Government has taken measures to the end that ao resort will be had to borrowing except to consolidate existing floating debt or to cover expenditures for income producing property. 24, to such sums as may ned by the various govern- ermany, repara- amortisation, will be governed by WE OFFER THE ABOVE BONDS FOR SUBSCRIPTION, SUBJECT TO ALLOTMENT, AT 94% AND ACCRUED INTEREST, TO YIELD OVER 7%. Subscription books will be opened at the offices of J. P. Morgan & Co. and Guaranty Com- pany of New York at 10 o’clock A. M., Tuesday, September 2, 1924, and will be closed in their discretion. AUl subscriptions will be received subject to the issue and delivery to us of the Bonds as planned, and to the approval by our cou,nsgl of their form and validity. The right is reserved to reject any and all applications, and also, in any event, to award a smaller amount than ap- plied for. Amounts due on allotments will be payable at the office of J. P. Morgan & Co., in New York funds to their order, and the date of payment (on or about September 16, 192}) will be stated in the notices of allotment. Kingdom of Belgium Five Year 6% Gold Notes and 6% Treasury Notes maturing January 1, 1925, with final coupons attached, will be accepted in pa; interest yield basis computed from the date of payment for at a price equivalent to « 3% % nds allotted to Janwary 1, 1925. Trust Receipts will be delivered pending the preparation of the Definitive Bonds. J. P. MORGAN & CO. FIRST NATIONAL BANK, New York BANKERS TRUST COMPANY, New York NATIONAL BANK OF COMMERCE IN NEW YORK THE MECHANICS & METALS NATIONAL BANK, New York THE EQUITABLE TRUST CO., New York HARRIS, FORBES & CO. DILLON, READ & CO. FIRST TRUST AND SAVINGS BANK, Chicago ILLINOIS MERCHANTS TRUST CO., Chicago CONTINENTAL AND COMMERCIAL TRUST AND SAVINGS BANK, Chicago CENTRAL TRUST CO. OF ILLINOIS. Chicago New York, September 2, 192;. LEE, HIGGINSON & CO. GUARANTY COMPANY OF NEW YORK THE NATIONAL CITY COMPANY, New York THE NEW YORK TRUST COMPANY KIDDER, PEABODY & CO. HALSEY, STUART & CO., Inc. THE UNION TRUST CO., Pittsburgh