Evening Star Newspaper, September 5, 1924, Page 29

FINANCIAL. PRICES HOLD FIRM | CHICAGO MAY ADD . Money.to Loan_|[" when Bupine | ouor igircist WE FINANGE ATCENTER HARKE Apple Demand Slow—Onions Cheaper—Cucumber Sales Very Slow. The daily market report on fruits #nd vegetables, compiled by the Market News Service, Bureau of Agricultural conomics, today says: Apples—Supplies moderate; demand | w; market steady: bushel baskets, Virginia, various varieties, 1.00a1.2 few 1.50. Cantaloupes—Supplies light; demand very slow; market dull; Delaware standards, 45s, salmon tints, wide range quality and condition, best most- Iy around 1.00, ordinary 50: Cailfornia, standard crates, Honey Dew: Turlock section, standard ¢ bas, 1 00, Onions — Supplies light: market weak: Mass New York, 100-pound sacks, varieties. No. 1, 2.75a3.00 Peach WMarket Stendy. Teaches—Supplies liberal; moderate; market steady: bushel baskets, Eiber zood color, 2.00a2.2 «1.50; ripe, 1.00; size, good colo medium, 1.50a1. Elbertas, . Elberta liberal: demand husetts and vellow demand Virginia, large size, small _to Maryland, bushel medium_ size, 2. <ize, good col- medium poorer, 1 Sweet 1 demanad tatoes—Supplies mod ght. market Shore Virginia. cloth-t Tela, vellow varieties 6 orth Carolina. cloth- barrels, vellow varietics. No 6.30: red varietics. poorly 5.0046.00; Nancy Halls, 5.50a6 Potate Supplies cal. Potatoes—Supplies liberal: de: gond, market steady 130-pound sacks, Trish Cobblers No. 1, 250 sack; Giants, 2.1 | Dack sales—East Shore Maryland | cloth-top _stave barrels, Irish Cob-| blers, U. §. No. 1. 2.35 Lettuce—Supplies liberal moderate, market stead crates, Big Boston type, 1 Cabbage—Supplies very light mand mederate, market steady: Vir- ginia, barrels, Crates, round tops, 2.00a2.25. Tomatoes—Supplies mand moderate, market homegrown. ':-bu. hampers, 1.00a1.25. Damsons—Supplies light, market dull; baskets, 1.00a1 Cucumbers—s mand very moderate: de- stead demana| bushel | ht nia, liberal; de-| York. bushel | . fancy and 2.00; poorer, 1.00. ew York, two-third crates, NORTHWEST THREATENED WITH CAR SHORTAGE By the Associated Press. FARGO, N. D,, September 5.—North- west railroads are facing the pos- sibility of one of the most serious car shortage situations in their his- tory, R. F. Gunkelman, vice president representing North Dakota on the northwest regional advisory board of the American Railway Association declared today. he movement o live stock this northwest railroads have e r h: reet, he said, and added that this sit- uation was the cause of a meeting of the advisory board which has been called_at Minneapolis Saturda “‘Although the situation promises to become acute,” he said, “timely ac- tion may prevent such a serious shortage. However, we must get im- mediate action.” WAR ON PRICE-CUTTING. Fertilizer Concerns Hope to Lift Profits—More Orders. Special Dispatch to The Star. BALTIMORE, September 5—Local fertilizer firms are looking forward 10 4 tonnage this season in excess of | that of last Spring. Prices in general are showing un upward tendenc which means much to Baltimore pr ducers, who have had a long period of lean years. Acid phosphates alone are about $1.50 a ton higher than the level prevailing in June. One-seventh of the total fertilizer output of this country is produced in this locality. A series of conferences between fer- tilizer producers has taken place re- cently, it has just become known. These meetings have had for their ob- ject a better understanding between the companies, which will lead to less cutthroat competition. NEW DYE PLANT READY. Maryland Concern Will Operations Monday. Rpecial Dispatch to The Star. CUMBERLAND, Md.. September 5. Manufacture of dyestuffs will begin | at the dye plant of the American ellulose and Chemical Company, Amcelle, on Monday. The ten-unit building, formerly the silk manufac- turing plant, has recently been add- cd to and remodeled into a fine dye| plant. Manufacture of artificial silk at the new plant will begin as soon as the machinery, delayed by American manufacturers, is sent forward. i CORN CROP ADVANCES. West Virginia Also Reports Good Potato Growth. Special Dispatch to The Star. MARTINSB W. Va, Septem- ber 5.- ath, onditions through- out West Virginia the past week gave corn substantial growth, simi- larly favored potatoes, but pastures are becoming short and dry, accord- ing to the official survey issued from Parkersburg. The apple crop is re- ported generally small, although the vield is good in some scattered Dlaces. grains Begin —_— WILL INSPECT FRUIT. Epeeial Diepatch to The Sta MARTINSBURG, W. Va., September ¥$.—J. J. Gardner of Pittsburgh, Pa., has set up headquarters for the sea- ®on here for Federal inspection of fruit shipped from the ecastern pan- handle counties. He inepected at Shepherdstown, Charles Town, In- ‘wood and Keyser last year. A meet- ing of the Berkley County Fruit Growers' Assoclation tonight is to take up the matter of the extension of this service, which is rendered un- der the joint supervision of the De- partment of Agriculture and the ex- ension division of West Virginia Jniversity. —_— Your Banker Knows. When in doubt about a sscurity onsult your banker. It is equally s much his interest as yours to pro- ct your savings. You trust him ith _your deposits—why not trust with your THE EVENING STAR, WASHINGTON. NEW YORK CURB MARKET Received by Private Wire BY WILLIAM ¥. HEFFERNAN. NEW YORK, September. 5.—Chief interest in the curb market today cen- tered again in the listing of new offer- ings or stocks which made their ap- pearance in the inside market for the first time. The outstanding feature was the active trading which accompanied the listing of the new Duz Company 200,000 shares of class A no par value stock. Trading commenced at 11' o'clock, 10,000 shares opening between 24 14 and 26, with dealings unusuaily brisk throughout the remainder of the aess The stock was offered some time for public subscription at $20 a share, and the issue was reported to have been heavily oversubscribed. Mountain Producers suddenly came to life following announcement that on, ago Direct to The Star Office the company had declared an extra dividend of 25 cents a share in addi- tion to the regular quarterly dis- bursement of 20 cents. ‘This compared with an extra of only 20 cents in the two preceding quarters. The heavy demand at advancing prices for Haseltine Corporation among radio issues reflected the re- port that the United States Districi Court had handed down a dcclsion In the case of the Freed-Eisemann Com- pany and the Independent Eadio Manufacturers. Haszeltine Corpora- tion is to receive royalties which the former company was compelled to pay into the court. Selling which has been going on re- cently in Jib Consolidated appears to be due to disappointment over the het ;mgd for August, which was only IR U Sales in thousands. BOSDR SN Tackers 6. 30 0 Alied Tackers Sulf Ol Corp Hood Rubber 3 Lehigh Power 6 Leligh Val Ha 2h Val KR Lit MeN & Ly Morris & Co 5 Nut Leat 10 New Or ol # North (en 13 No St P M Ohio Power Fenn Pow Phila 4 1h Per Pub Sery of X 1 6x 10 Pub Serv of N 1 71 1 Pure 0l 6 7 18 1 Mills 61 FoR: it Cons K1 P pun 5 Ring Neth fx 1614 1 N0l & Co 6 44 B . 1003 S Swiss Govt os 100'y 100! Sales STANDARD OIL ISSUES. in_nnite 700 Anglo-Am 0il. 100 Atlantic Lobos. 4000 Atinntic Lobos nrd. 230 Buckeye Pipe Line.. 200 Chenebrough M. 20 Eureka Pipe Line... 10 IMinoix Pipe Line. 2205 Tmp Ol of Ca 130 Tad Pipe Line 9000 Int Pet Co Li 60 Magnolia Per.. || 100 National Transit.. Northern Pipe Line Ohio OI1.....- Prairie ¢ rairie INDEPENDENT OIL STOCKS. hundreds. 3 Boston_Wyo Oil 2 Carib Synd 12 Cities Service . 2 Cities Service pfd. 1 Cit Serv B cfs $2.000 Cit Serv O serip. $2.000 Cit Serv sefip. Washington Stock Exchange SALES. <—$1,000 at 973 W s fs ‘33500 at 101% Capital Traction C Washington Gax Light—10 at 50, 10 at shington Rwy. & Elec. com —10 at atl. Mtge. & Iov. pfd.—50 at 9%. AFTER CALL. Riggs National Bank—10 at 295, Capital Teaction Co.—10 at 81%. ‘Washington Rwy. Elec. com.—10 at 7715, . 5 and 6 per cent. 1 at 913, Bid and Asked Prices. PUBLIC UTILITY. American Tel. & Telga. 4a.. American Tel. & Teiga. 4% Am, Tel. & Tel. ctl. tr. 5e.. Am’ Tel. & Tel. conv. 6s. Anacostia & Potomac 3s. Anacostia & Potomac guar G C. & P. Telephone s C. & P. Telephone of V. 5a. Capital Traction R R. 55. City & Suburbun 5 Georgetown Gas 1st 5 Potomee Elec. Ist 5s. Potomac Elec. Cons. Potomac Elee. deb. 6s. Potomac Elec. 65 1053, . m. & Fie"ver. B sh., Rwy. & sh. Rwy. & Wash. Mkt. Cold Storage Wardman Park Hotel Gs. STOCKS. PUBLIC UTILITY. Wash. Rwy. & Elec. pf Terminal NATIONAL BANE. National Capital. Columbia Commercial N District . Lincoln . National Metropolitan. Riges nd . e . tional Bank of Washington. TRUST COMPANY. American Secarity & Trust. Continental Trust. Mercbants' Bank. ational Savings jon Trus Wash. Loan & Tru SAVINGS BANK. t Washington. . Security Savings & Com Reventh Btreet. United States. American Corcoran Firemea’ ational Union . TITLE INSURANCE. Columbia Title. Real Estate Title. MISCELLANEOUS, Security Storage ‘Weshington Market. Hudson Ol . Lago Pet o atin Amer Ol Monnt Prod .. Mutuat Oif vot o0 16 20 New Mex Land Ohio Fuel il Penn Reaver ON... Pennock 0il Pierce et . Red Bank Oil 3 Rosal Canad 0 Salt Ck Prod Tnion Ol of Wilcox Ol & 3 Woodley Pet 104 NDUSTRIAL Adirondack Power.. Allted Pack wew... Al Pac pra i b e Tl Iiklyn Ciry RR. Rrghx Ad Mach Brlis Mach Centrif Tron Chi Nip A. 2 Chi Nip I trut Cleviand Auto. Clev Auto ptd.... Comwlth Cor.. Com Pow Cor pfd.. Cuba Co. Noehier Dy Dubilier ¢ Durunt Mot. Du Pont M Duz Co a.m.i East Penn Elec Co. & Radio Foundation Co pfd Franklin 3 pf wj Gillette' § R.. oar . Swh & Nig pf Huzeltine Corp ... Heyden Chem 00 ud & Man R R son” Co pfd 2 Inter Contl Rubber 5 Jonex Rad Kesstoue Kuppenh Lehigh Lehigh Yal ¢ Lehigh Val Coa Mengel Rox . Solether, B & Copf % N Y Tel Co pfd... ickel Pl new wi. Nickel Pl ow pf wi Omaib Cor vec wi. . TPaige Motor Pines Win Fr Prop Rrush wi Radio Corp ... Radio Corp new 2 Radio Com nw A pt 5 Reo Motar - o." Rova Rad 0o 't i Rad Co of Axle 2Tn G & E new... Un Retail Candy U 8 Lt & Heat pt 2 Ward Bak Co A.. 1 Ward Bak Co B. Ware Radio Cor, Western Power. West Pow pr p MIN Black Hawk Cons. Black Oak_Gold M. Caledonia Min. . Cavario Coppet. Continental Mines.. Cons Cop Mines. Cortez_Silver . orence Goldfia Mn alIfield ¥ 111 Hawtiorne M in: Indep Lead Jib Conx ..... Kay Copper Corp Lone Star 36 Lor Sil_Syn Lid 2 Mason Val Cop ..... 60 Nev Hills Mining. . 3 Nipissing . 5 Rek Mt Sm & Ref 3 Rek Mt S & R prd © Teck Hughes.. 10 Tonopah Divide.... .: 4 Tonopsh Extension 51 Trinity_Copper ... . 40 U 8 Continental.’.. . 5 Unity Gold. 12 Wenden Copper 7 West End Coasol 260 West Bnd Ext. 20 Wettlanfer Lor WALL STREET BRIEFS. NEW YORK, September 5.—Motor vehicle production in the United States in August aggrezated 268,477 cars and trucks, an increase of 5,601 over July, but 76,826 less than in Au- gust, 1923. Mountain Producers’ Association de- clared an extra dividend of 25 cents in addition to the regular quarterly dividend of 20 cents, both payable October 1 to stock of record Septem- ber 15. Extfa dividends of 20 cents were declared in the two preceding quarters. August sales of J. C. Penny Com- pany, ihcreased $5,276,281, compared with 34,289,082 in August, 1923. For the eight months of 1924 the total was $39,693,351, a gain of $6,777,815 over the cortesponding period of 1923. —_—— * K& [TEIET T TODAY’'S METAL PRICES. NEW_YORK, September 5.—Copper easy. Electrolytic, spot and nearby, 13%a13%; futures, 13%. Tin steady. Spot and Tutures, 52.37. Iron steady nd unchanged. Lead steady. Spot $.00a8.25. Zinz steady. East St Lot spot, 6.25; futures, 6.25a6.27. Antimony, spot, 10.75. — EMIGRANT TRAVEL HEAVY. FORT WORTH, Septembeér 5 (Spe- cial).—In the first seven months of this year a total of 774 cars of emi- grants was deliveted by the Atchison, Topeka and Santa Fe road to points on the Texas plains. —r e NEW YORK EGG PRICES. NEW YORK, Beptember 5.—Eggs— Irregular; receipts, 15,959 cases: near- by hennery whites, closely selected ex- tras, §5a58; neatby and nearby West. efn hennery whites, firsts to average extras, 42a54; nearby hennery browns, extras, 45a50; Pacific coast whites, ex- tras, 52a53; do, firsts to extra firsts, 42a51. —_— DIVIDENDS DECLARED. NEW YORK, Sept. 5.—General Rail. way Signal Company declared a div- idend of 1 per cent on the commén stock and the regular quarterly div- idend of 1% per cent on the pret both payable October 1 to stock o TRADIG N COTTON New York and New Orleans Are Against Move—Vote Set for Next Monday. BY J. C. ROYL Special Dispatch to The Star NEW YORK, September 5.—Members of the Chicago Board of Trade will take a_formal vote Mondly to determine whether trading in cotton futures will become a part of their activities. There i5 a general belief that the proposal will be indorsed by a big majority. Approval is not likely to be o general in some other sections of the country and among Amcrican members of other exchanges. however. Chicago traders cotton through ve brokers New ¥ and New Orleans. This has not pre entirely satisfactory to them. but York and New Orleans brokers equally opposed to the opening of the Chicago market to eotton trading. The boara of trade men take the stand that there is a demand for the addition to the list of commoditiex traded in there, that the charter of the board author- izes dealing in all agricultural products, and that such trading would result in a broader and morc liquid market without affecting prices except to make them respond more quickly to laws of supply and demand Texas Men Like Iden. This stand is enthusiastically sup- rorted by Houston and Galveston | otton men, since those ports would | f for cotton | rding to | be made traded in o, present plans. They hold the board of trade already has a broad clientele speculating in grain and provisions and that many of these traders will become interested in cotton. It ix{ pointed out that half of the cotton produced in this country comes from west of the Mississippi. A Western contract for Western cotton men and spinners buying Western cotton is expected by Gulf business men to fa- cilitate operations. They add that by making deliveries at Houston and Galveston, cotton could be loaded di- rect for foreign destinations with a saving of handling charges. The report of the special Southern | warehouse commission of the New York Cotton Exchange recommendiniz the egtension of delivery privileges on | New York future contracts to New Orleans is taken in on some circles to be a move to counteract the Chic plan and the naming of Houston and Galveston as @slivery points. The re-| port favors the gxtension of the de- fivery privflexes also to Galveston. | touston, Norfolk and Savannah| “whenever State laws at these places ' fully protect operations under the | present cotton futures act.” | Broader Markets Seen, In the Southeast few concrete re- sults are expected to follow inaugu- ration of trading in Chicago except a “broadening of the market.” Cotton men in Georgia and the Carolinas say that while trading in cotton in Chicago cannot add one bale to production or one spindle to con- sumption, it will result in more trad- ing in contracts in a territory hither- to not interested primarily in the South’s great staple. Forward looking section welcome th new blood in the field ulation, believing bro mean better prices for New Orleans Opposed. i New Orleans cotton men are firm in | the belief the Chicago experiment, if | tried, will not prove successful since that city is far away from the fields | and does not possess the machinery | and organizations with which to gather the data necessary to operate an independent exchange. They de- clare Chicago is not in any sense a cotton market; that no cotton is con- sumed in that territory and that there is no necessity for cotton to pass through that center on its Way to consumption. Whatever effect the new plan will have on the markets for raw cotton, the Southern cotton textile turers are going grimly ing adjustments on their goods new price leve's for the raw staple warehouse stocks and orders. Mills in Alabama, Georgia and the Caro- linas are extending operating hours, | and many plants are holding - | ance of orders down to the stock of cotton purchased In the raw cotton markets trading is held back pending the Government | crop report due Monday. which is ex- pected to arouse the usual dispute concerning its accuracy as compared with that of private estimators. NEW COTTON DELIVERY PLAN IS RECOMMENDED By the Associated Press. NEW YORK, September 5.—Declar- ing that deliveries of cotton at South- ern ports against New York future contracts is economically sound in principle, would undoubtedly tend to keep quotations more in harmony with spot values and would be prac- ticable at numerous cities but for ad- verse State laws, the special Southern warehouse committee on the New York Cotton Exchdnge, in a report just made public unanimously recom- mends the extension of delivery priv- ileges tg New Orleans. At present all futures contracts on the New York Cotton Exchange call for delivery at New York City only. RECEIVERSHIP ASKED. Another Move Against Middle States Oil Corporation. TEXARKANA, Ark., September 5.— Receivership proceedings against the Middle States Oil Corporation and 23 other concerns, with combined assets of approximately $50,000.000, were flled in United States district court here late yesterday by Joseph A. Phelan, a New York creditor. Similar action against the Middle States company and its subsidiaries was taken in the United States dis- trict court at New York recently delivery in Chie points interests in that| acquisition of | cotton spec- | der markets producers when a receiver for the company was appointed. COTTON GOODS QUIET. NEW - YORK, September 5 (Spe- ¢ial).)—The cotton goods markets were rather quiet today, with ho price changes of note recorded. Print cloth quotations were steady at 8% cents for 64 by 60 and 9% cents for 68 by 72. The raw silk market was irregular, XXB grade advancing 25 cents to $6.70 a pound and XXA 20-22 denler advancing 5 cents to the same figure, while all other grades were unchanged. Money Available for First Deed of Trust Loans 637 Interest Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. D. C, Secured by first Geed of trust on real estwte 1924. FINANCIAL. * FRIDAY, SEPTEMBER 5 29 FIRST MORTGAGE NOTES Consult Us It yon bave funas for stments THOS. E. JARRELL Membor Wastington Keal Besate Boord. Weodward Bids. Maia 766-8370. Apartment Flouses = Business Property Resldence Property = A Hoetels, Ete, Higbie & Richardson, Inc. 816 15th St. N.W. Prevailiog_ interest Owr 7% First Mortgage Notes You Can Be Assured Firet—A very careful and con- servative appraisal has been = ecommend nd.—The loan we r e 1o2s than 50% o the market price. Third—After you have purchased one of our notes you Eei & service that assues you inter- t the day due. Netes on hand fn amounts of $100 up. Chas. D. Sager . 924 14th St. NW. Mai= 37 Lean Department (AWl Issues) Bought and Quoted 435 Star Bldg. Main 2867 Consultation Withont Obligatios FEDERAL-AMERICAN NATIONAL BANK RESOURCES $13000.000 1315 F ST Jomm PooLE Pusmer 6%2% FIRST MORTGAGES ; Secured:on Washington Real Estate conservatively appraised. Safe:as to Principal. Over a Quarter of a « Century We offer a iimited number of First Trust Mortgage Notes secured an high-class o northwest property close to Sixteenth Street. SECURED SAVINGS— Invest $10.00 Per Month For Ten Months And You'll Own One of the Best First Mortgage Notes That Can Be Bought— Besides, We Pay Interest On Each $10 Payment At the Rate of 61, Per Cent Per Annum Mortgage Investment Dept. SHARNON & LUET 713 and 715 14th St. N.W. Main 2345 <Income assured.f #* These notes, in de- Without nominations of $250, $500 and $1,000 bear . a Loss. 7% interest per annum. 1t you are seeking a sound conservative ivestment for your surplus funds. yiel®ing an unusually good retuwn, investigate this offering. Moore & Hill 730 17th St. N.W. (Member Washington Rcal Estatc Board) Miin 2100 EQUITABLE Backed by 51 Years:of Proven Safety Co-Operative Building Association Organized 1579 44th YEAR COMPLETED Annets C. . .$4.733,170.52 Surplus . . $1,248,330.98 The Time To Save Is ’ Right Now Set aside part of your earmiage in the Equitable. A method of saving that will accomplish most. Subscrd 87th Issue of Stock Belng Reeeived Shares, $2.50 Per Month EQUITABLE BUILDING 915 F ST. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Sec’y O loss to any ilmvestor in 51 years—the record of the F. H. Smith Company—is your assurance of s;lety when you invest :in our First Mortgage Coupon Consider with this record the fact that—in a day % usually low money rates—you can obtain 615% and 7% on investments outright or underour Investment Savings Conservative investors have always been attracted to our First Mortgage Investments. The strong safeguards thrown about our First Mortgage Bonds have established a safety standard by which the investor may be guided. Current offerings, paying 62,% and 7%, are available in denominations of $100, $500, $1,000 and $5,000, and in maturities from 2 years to 15 years. Call, write or tele- phone Main 6464 today for descriptive circulars. NO LOSS TO ANY INVESTOR IN 51 YEARS 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 The F. H. Smith Compan Founded 1873 SMITH BUILDING 815 FIFTEENTH: ST. $26,000,000 Canadian National Railways Thirty-Year 4'2% Gold Bonds Dated September 15, 1924 Due September 15, 1954 ‘ Principal and interest payable in gold in New York City at the Agency of the Bank of Mentreal, alse payable in Canadian currency in Torento, Montreal,and Ottaws. Interest payable March 15 and September 15. Bonds in coupon form of $1000 with provision for registration of principal. Total Authorized Issue $26,000,000. Callabie as a whole, dr in gfl 1ot, on any interest date; at 105 and interest to and in:l‘u’ding September 15, 1929, at 153 and interest thereafter to and intluding Septermber 13, 1934, at 102 and interest thereafter to and including September 15, 1935, and thereafter at further suc- cessive annual reductions of one-tenth of 1%. Application will be made in due coutse to list on the New York Stock Exchange. The National City Bank of New York, Trustee. The Dominion of Canada Guarantees Principal and Interest by Endorsement These Bonds will be the direct obligation of the Canadian National Railway Company which operates a trans-continental railway system across Canada from the Atlantic to the Pacific Ocean. All of the capital stock of the company is owned by the Government of the Dominion of Canada, which guarantees the Bonds. We offer these Bonds for delivery when, as and if issued and received by us, subject to the approval of legal pro- ceedings by counsel. An offering of these Bonds is being made simultaneously in Canada. It is expected that Bonds of the Company, or Interim Receipts of Dillon, Read & Co., will be ready for delivery about September 15, 1924, Price 96 and Interest. To yield 4.75% Dillon, Read & Co. The National City Company Guaranty Company of New York Lee, Higginson & Co. Harris, Forbes & Co. Bankers Trust Company White, Weld & Co. Continental and Commercial Trust and Savings Bank First Trust and Savings Bank, Chicago Ilinois Merchants Trust Company The statements herein have beon secaptod by s &3 accurate but are in ng event to be construed as representations by us.