Evening Star Newspaper, September 10, 1924, Page 25

FINANCIAL ONIONS ARE LOWER AT GENTER MARKET Peach Receipts Heavy. Sweet Potato Mar- ket Dull. The daily market report on fruits and vegetables compiled by the Mar- ket News Service Bureau of Agri- Cultural Economics today said: Apples—Supplies light, demand light, yiarket steady. Bushel baskets, Vir- la, various varieties, 125al.75; Grimes fan: Cantalou mand limited, market steady. crado. salmon tints, jumbos, and . flats, 4 5. = 1.40. s, standards, 12s and 155, 1.00a1.10; jumbo flats, 95 and 12s, 110 1.2 rrection: Yesterday's 458, should have read jumbos, 36s hould have read jumbos, 36s and 4 moderate, Onion Prices Cheaper. Onions—Supplies moderate, demand moderate; market sdightly weaker. New York and Ohio, 100-pound sacks, vellow varieties, No. 1, 2.50a2.65. Peaches—Supplies liberal; demand moderate; market steady. Virginia and Maryland, sixes and bushel bas- kets Elbertas, medium to large sizes, fair color, 2.00a2.50; various varieties, small sizes, fair quality, 1.00a1.50; Maryland. sixes, Elbertas, large sizes, fine quality, 3.00; bushel baskets, Hales, large size, fine quality, ring pack, 4.00; New Jersey, bushel bas- kets, Elbertas, ring pack, 2.85a3.00. Potato Market Steady. Potatoes—Supplies liberal; demand New Jer- 150-pound sacks, Irish cobblers, No. 1, 2.60a2.75; Giants, U. S. No. 1, 2.40 per sack. Sweet potatoes—Supplies moderate, demand limited, market dull; Eastern Shore Virginia, cloth-top stave bar- rels vellow varieties, No. 1, 5.00a5.50, few higher; North Carolina, cloth-top stave barrels yellow varieties, No. 1, 4.505.50. Lettuce—Supplies liberal moderate, market firm; crates, big Boston type, 1 Cucumber Sales Low. Tomatoes—Home grown, supplies moderate, market Steady; half bushel hampers, No. 1, 75a1.00. Cucumbers—Supplies light, demand slow, market steady; New York, bushel baskets, dills, 1.25a1.50. Celery—Supplies light, demand Jight, market dull; New York, two- third crates Golden 1f blanching in the rough, best, 2.50a2.75, few 3.00. RETAIL AUTO SALES DROP DURING AUGUST Fewer Fords, Chevrolets, Buicks and Studebakers Reported Purchcased. demand York, 00. Spectal Dispateh to The Star. DETROIT, September 10.—Retail automobile sales here in August fell off 20 per cent from July. Total sales of all companies was 4, The num- ber of Fords sold declined from 2,780 to 1,098, Chevrolet cars sold fell off 354, while S6 fewer Buicks were gold in August than in July. Stude- buker sales decreased from 266 to 19 BUS TRAVEL KEAVY MINNEAPOLIS, September 10 (Spe- cial) —Motor bus lines with head- quarters in this State carried 8,790,000 passengers in 1923, according to fig- ures of the Minnesota Motor Bus Association, just announced. Washington Stock Exchange SALES. Potomac Elec. cons. s—$1,000 at 98, $1,000 £ht—10 at 50, 10 at 49%. % Elec. ptd.—> at 5%, 20 at National Metropalitan Lanstton Monotspe—10 at Capital Traction Wasnington G : P Eibington Gax 60 _$1.000 at 102, UNLISTED DEPARTMENT. Chapin-§ at 55, 10 at 85, Departmental Nank-—> at 8. Money—Call loans. 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Asked. American Tel. & Telga. 4s. 98 American Tel, & Telga. 41as.. Tel. & Tel. . Telep Telephone of Va. pital Tracti City & Suburba Georgetown Gas m Metropolitan Fotomac Potomac Tait. & heton ¢ Washington Gas_6s. ‘Wash. Rwy. & Fie ‘Wash. Rwy. & Elec. gen. MISCELLA: D. C. Paper Mfg. 6s. Riggs Realty 5s (lon e Niggs Realty (short). Southern Rldg. @ Wash. Mkt. Cold Storage 5. ‘Wardman Park Hotel 6. STOCKS. PUBLIC UTILITY. & Telg: ‘Annap. American_Tel tal Tract ngton_( IS8 Wash. Steambon Terminal Tazi com...-.- NATIONAL B National Capital. Columbia Commercial District Yarmers & 3 ncoln . ational Metropolitan. g.unfl. secon, Nitionai “Bank of Washington TRUST COMPANY. American Security & Trust. Continental Trust SAVINGS BANK. Commerce & Savings. East Washington. Recurity Savings & Com. Seventh Street Tnited States.. ‘Washington M FIRE INSURANCE. Ameriean Corcoran, ¥iremen XNational Union . TITLE INSURANCE. Columbia_ Title Real Estate Titl MISCELLANEOUS. Merchasts: Transfer & Storage. M thaler Linotype . otk Mtge. & Inv. pfd 014 Dutch lhrlet com. 0ld Dutch Market pfd. Janston Monotvpe Seecurity Storage. Washisgton Market... Tellow Cabeissscsssssonsvencoes Received by Private Wire BY WILLIAM F. HEFFERNAN., NEW YORK, September 10.—Fur- ther buying took place on the oil shares today, following publication of crude oil production figures showed a falling off in the last week of some- thing over 10,000 barrels daily. Prac- tically all members of the Standard Broup gained substantially under the leadership of Vacuum and Standard of Indiana. Red Bank made up a point of the recent loss when it sold at 44, and there was special buying in Mutual Oil around 11. Western Power com- mon and preferred featured the pub- lic utility group, establishing new tops around 38 and $4 Dectively. NEW YORK, September 10.—Fol- lowing is an official list of bonds and stocks traded in on the New York Curb Market today: Sales tn thousands. Low. 12 Allied Packers 6 Close. 72 839 108% e 9 Am Sum Tob 1 Am Rolling mm 4 Apaconda 6x. 11 Avglo Am 011 7158 § fovoc Sim Hw ol 11 At G & W Atlanti, 1 Con Gax Bal Gas D 14 Cons Textiles 8S.... 12 Cont Pap Bag 6%s A 6 " 5 Cudaby 518 ....0. . 8T Dreere & 10314 3 Detroit ¢ 1 Detroit ki Dunlop T & R Federal Sugar Fisher Body s Fisher Body s " Fisher Body 3 1005 1008 108 108 Hood Rubber Inter Match 6 Kennecott (op - 7s. Lehigh Power 65 Leh 1 Hr Ry Lehish v Motor Prod ris & Co Tis . 5 Nat Leather & New Ol Pub Serv or Cent Ry 5% A Penn Pow Phil Elec Osage 75 5 United Ol Pro_S: Un I 73 Inds Mtz Bk Fin 35 Ind Bank Jap 6s 11 Kdm Nethrids 6 8 L Aus Hy Bl P 10 Prs-Orins RR 1 Russian Gyt 4 Russ Gv 6gs ) 3 Swiss Gvt o5 Sales STANDARD OIL in_units. 200 Attantic Lobos pfd. 10 Buckese P L .. 8§00 Humble 0 & R 20 Nlinois P L, ...... Imp 0il of Can Indiana P L ... Inter Pet Co Ohio O .. Prairie 0il & ¢ Penn Mex Fuel Prairie P L : South Penn 0il ... Southern P L IND in hundreds. 1 Toston _Wso Ol Federal Oil .. Gulf Oil of Pa.. Hudson 0il Lago Pet . Tatin_ Amer Ol T'vingston Pet RBradford Eng Fuel Oil w Mex Land Peer Ol Corp. Penn Beaver Oil. Pennock Oil... Pierce Pet. Red Bank Oil an 0 & 271, Ba 15~mu:_ ion Oil of Cal D \J;’ Wilcox 0il & G 474 Woodley Pet. ¥ INDUSTRIALS. 5 Adirondack Powe 3 Amal_Leather. Am Cot F: rromRin Am Am B Am Power new wi AmP &L .. Am Fgn Pow Wi Archer Daniels Mid Atlantic Fruit Rorden & Co . 2 Brehs Ad Mch n Brehs Ad Me ow pf Campbell Soup pfd. i A Chie Nip B trust Cmmwlth Pow Cor Cmmwith P Co pf £ Gmwith Pw Rt Du Pont Motors Dug A wi. Rond ‘& Sh pt ‘ed Metals . F&W Grand 8 Film Inspect Mach. Ford Motor of 1 Foundation Co pfd. 2 Gillette Safety Raz 20414 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY LYNN, Mass., September 10.—In re- sponse to requests from abroad, sev- eral hundred pairs of Lynn-made sample shoes have been shipped to Europe. Eix firms have sent repre- sentatives abroad to exhibit the shoes. BOSTON, September 10—Labor lead- ers here declare any general wage reduction in the textile trades would be followed by a nation-wide strike. They claim isolated mills already have reduced wages of 100,000 work- ers 10 to 20 per cent. CHEYENNE, Wyo., September 10.— New production from oil wells com- pleted in the Wyoming fields in August was 7,525 barrels a day. This compares with 13,760 barrels in July. Seventy-elght new wells were brought in, two less than in July. JOPLIN, Mo., September 10. and lead ore Drices are steady de- spite increases of production. Zinc ore shipments in the last week total- ed 27,979,720 pounds, valued at $601,- 537, while lead ore shipped totaled 3,237,100 pounds, valued at $17,800. PITTSBURGH, September 10.—De- mand Tor plate glass is better and window glass is in fair demand with comparatively light stocks in the hand of the larger distributors around the country. Other forms of building glass continue to move well. WILKES BARRE, Pa, September 10.—THe anthracite companies in this district are being run at nearly 100 per cent of capacity, THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY, SEPTEMBER NEW YORK CURB MARKET Direct to The Star Office Reo Motor continued to reflect the action of directors a few days ago in increasing the extra disbursement to Stockholders, but improvement was small, The new Pittsburgh terminal coal common continued the upward move- ment gaining nine points before the rise was checked. Along with this stock, went the Pittsburgh and West Virginia rights. The feature in ihe bond section was a wave of selling in Consolidated Textile $s, which carried the price down almost two points before the decline was checked. Later, however, the loss was retraced. Hudson ¢ Jones Redio ... Keystone Solether. _,..__,-3-.,-;-—.;-";.“—- Midvale Co .... Motor Prod Co uew Y Tel Co pfd fc Plate new w Pl new pfd w Omnib Corp A pf wi Omnib Cor ¥ t ¢ wi Pitts W Va rts wi ts Term wi ... s Term pfd wi ines Win Fr Co A Prephy Brush wi . Radio Corp . Radio Corp Keo Mot _T.:axq:z:’ifi Thomp Kadio Tnited Bakerie TUnited Bak pfd ... United Profit Shar Unit Retail ( 2 Ward Dak Cor A K Cor B dio Corp: 11 Canario Copper 10 Con Copper. Mine: 10 Con Nev U 50 Cortez Sily Diamondtield B B.. Eng G M Lid Ind. Eureka ( = Florence Hollinger " Independence’ Lead Nipissing Ohio Cop Prme Porcu Mn 1td Plymii Lead Mines Red Hill Florenee Reorgnzd Div Annx Jim _Butler “TonopahMin G Trinity € United Vi E S Continental .. id Copper 13 100 UNFILLED ORDERS FOR STEEL INCREASE First Gain Reported by Steel Cor- poration Since Last February. By the Associated Press. NEW YORK, September 10.—Un- filled orders of the United States Steel Corporation on August 31, made public today, totaled 3,28 tons, an increase of 102,505 tons, compared with the end of the previous month The increase in unfilled tonnage is the first reported by the Steel Cor- poration since last February, when orders totaled 4,912,901 tons. Al- though the small decrease reported at | the end of July was accepted as an indication of a turn in the steel situ- ation, the August increase was re- garded as the first convincing evi- 2 | dence that the industry was on the upgrade. At the low point of 3,187,072 tons on July 31, unfilled orders were the smallest in 13 years, and on the b; of the August figures are still 000,000 below the corresponding period of 1923. .Company, | For the first time in weeks exports DECLINE IN CORN; _ INCREASE IN WHEAT Government’s Crop Report for Sep- tember Also Notes Improve- ment in Oats. A decline of 63,000,000 bushels in corn crop prospects and an increase of 23,000,000 bushels in the prospec- tive wheat crop due to August con- ditions were shown in the Govern- ment's September crop report issued late yesterday. Oats also improved during August to the extent of 47.000.000 bushels with a crop of 1,4%6,000,000 Lushels forecast. That is 186,000,000 bushels larger thar last yvear's crop. The generally cool season has been most favorable, and large yields are ex- pected in the important producing States. The flaxseed crop, forecast at 29,- 000.000 bushels, is larger than in any previous yvear excepting 1902. Grow- ing chiefly in the Spring wheat States, the crop has regained its former prominence in that area. Late potatoes in the Northern States haye been favored by August weather wnd a forecast of 413,000, 000 bushels was announced, an in- crease of 14,000,000 over August 1, a 22,000,000 bushels larger than vear average. The tobacco production forecast is below any year since 1916, with the exception” of 1921, a total of 1,195,- \N‘lhof\l\ pourds being indicated. The crop in Kentucky, principal produc- ing State. is generally poor and the plants are small. Marked Improve- ment was shown in August in Vir- ginia, North Carolina and New Eng- land, but it declined im Kentucky, Tennessee, Ohio, Indiana and Wis- consin. Forecasts for apples, pears, peaches and grapes are smaller than a month ago. WILL BUILD RAILROAD West Virginia Corporation - Is Granted Charter. Special Dispatch to The Star. MARTINSBURG, W. Va., September 10.—Under a certificate of incorpora- tion filed at Clarksburg this week the West Virginia Midland Railroad Com- pany is authorized to build a line of railroad from a point at or near Sut- ton, to Elkins. The compa corporated at $100,000, H. B. Curtin of the Paree Curtin Lumber one of those interested in the project. He recently bid for the railroad line now running from Holly .‘luanun to Webster Springs for 15 PASSES $5,000,000 MARK. Baltimore Does Record Port Busi- ness in Week. Special Dispateh to The Star. BALTIMORE, September port husiness of more than $5 was done by Baltimore last week, cording to the collector of the port. exceeded imports copper, tobacco, manufactured arti- cles, coal and lubricating oils were the most important exports with a valuation of $2. There was also a large Increase In dutiable imports. Cargoes of sugar, molasses, clay, toys, tableware and spices upon which duties will be col- lected were valued at $979,500. Free imports were copper, bananas, wood- pulp, crude oil, iron ore and fertilizer and given a valuation of in value. Grain, PEACHES MAKE RECORD. MARTINSBURG, W. Va., September 10 (Special).—A record price for locally grown peaches was set this week here when a crop of fine El- bertas sold from the Duches Orchard for $3 per bushel. Consult Your Banker. 1f you are inexperienced in invest- Ing money, it is very unwise to plunge into unfamiliar ventures. You will profit by consulting some one who is familiar with such affairs. Consult your banker as to the requirements as to bank investments; what are safe for their funds are very certain to be safe for yours. It is alway well, moreover, to seck his advice| and counsel. 612% FIRST MORTGAGE REAL ESTATE NOTES These notes not only offer the oppOrtunity of a safe invest- ment with a good yield, but enable the placing of funds for a comparatively short or long term. They are secured by first mortgages on improved District of Columbia property of the highest type, and we guarantee the prompt and full payment of both principal and interest. We attend to all details. Real Estate ‘Mortgage & Guaranty Corp. (Resources Over One and a Half Milion Dollars) L. E. BREUNINGER, President. 26 Jackson Place. You Ask, What? To be able to state that you had never lost a dollar through speculative investment and that all of our funds had been carefully invested and had earned a liberal return. BUT, if Of course, such reflections stir up unpleasant memories of having yielded to the “temptation.” you had begun to SAVE by buying our FIRST MORTGAGE NOTES your soul might have been “possessed in peace” losses and no depreciations. and your income received at every maturity—with no IT’S NOT TOO LATE TO START to have your money earn 6%% with the principal absolutely safeguarded. Write, phone or call and let us explain details and submit All loans secured by .First Mortgages upon IM- PROVED Real Estate in the District. We have notes as small as $100.00. Partial Payments received. NEVER A LOSS TO AN INVESTOR. MORTGAGE INVESTMENT DEPARTMENT SHANNON & LUCH 713 md 715 Fourteenth Street N.W. M.lin 2345 EVERYMAN’S* INVESTMENTS BY GEORGE T. HIIGHES, “TAKING PROFITS.” Sixty-eighth Article. One question that continuously comes to my desk is about “taking profits.” The investor has bought a bond or a preferred stock at a lower price than the present marlket. He asks if he should sell out and reinvest his increased principal else- where. Generally he is eager to do this very thing. Congratulating him- self upon his good judgment and foresight, he is anxious to convert his paper profit into a real one. Now sometimes it may be that such a course is advisable, but usually it Is a mistake. If the security high-grade in question is a investment which has advanced in market price, any sub- stitute of equal quality will also have advanced, and when the in- vestor replaces his holdings with something else he must either take a greater risk or accept the same re- turn he is now receiving. Judgment Proved Sound. If the security in question s semi- speculative the fact it has advanced is not necessarily a sign that he should sell. It merely proves that the judgment which prompted the purchase In the first place was sound. You might, of course, be equally fortunate a second time, but that is another question. The problem of shifting about one’s investments should be approached regardless of the prices at which these investments were first accum- ulated. It is very difficult to do this, but it is absolutely essential if the best results are to be secured. The rule applies just as well when mis. takes have been made and the quot: tion for the bond or stock held has declined instead of advanced. The profit or the loss of the orig- inal investment must be entirely dis- regarded in reaching a decision as to whether a security should be re- tained or disposed of. Bear this in mind. The market place where quo- tations are made and unmade is not interested in whether ycu have a profit or a loss. There is only one question for you to answer, and that is this, namely, will you better your investment position by selling or will you weaken it? Only Real Value Counts. Specu understand this prin- ciple than investors. ‘The successtul speculator. assuming that there are successful speculators, sells a security at a loss when he be- leves that is the right thing to do or holds on no matter how tempting the profit if he is convinced that conditions warrant it. Apply the same rule to your investments. Do not throw them overboard just be- cause some one else is willing to pay more than they cost you in the first place and do not hold on to them simply because you cannot get as much as you paid. Real value is the only thing that counts, and those who take this into account will in the long run be the most successful investors. (Copyright, 1924, by Consolidated Press.) -— GETS BIG ENGINE ORDER. W YORK, September 10.—The American Locomotive Co.. .has receiv- ed orders from the Missouri Pacific for twenty-five 165-ton Mikado en- gines and ten 145-ton Pacifics. The orocabana Railway of Brazil also ordered nine 63-ton Mikados. The Chesapeake & Ohio is having general heavy repairs made to twenty-five 220-ton Mallets. Prompt Action First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. 738 15th Street Our First Mortgage Notes Are the type of investments that appeal to conservative investors Banks Recommend Them Insurance Companies Prefer Them Courts Advise Them (the three most conservative fmstitu- tions one can go to for adrice.) Buy them and the thought of worry can be dismissed from your mind. We have on hand a limitea amount in denominations of $100 and up. Bearing 7% Interest Chas. D. Sager Loan Departmesnt 924 14th St. N.W. - Matn 37 38 I 112 171112001 A TP I 0L New [Issue Less: Water Bonds.. Sinking Funds. Net Bonded Debt.. R T e T Robert Garrett & Sons Baltimore These bonds,are the direct and 1920 U. 8. Census, 10,623), a.nd one of the most prospero never defaulted in the prompt payment of any of its obligations, and it is noteworthy that of its total bonded debt prior to this issue only $30,000 of bonds bear interest at a rate in excess of 41%, the majority being 4% or lower. The City has all the usual and necessary modern improvements and utilities for the comfort and convenience of lts citizens. It is an educational center of considerable importance and has a number of diversified industries. 10, 1924, WHEAT CROP DAMAGED. France Reports Very Heavy Losses Due to Rain. By the Assoclated Pre PARIS, September 10.—The wheat crop of France has been badly dam- aged by months of rain, says Le Temps. This newspaper quotes agri- cultural experts as estimating the shortage that must be bought abroad as possibly about 20,000,000 quintal instead of 10,000,000 quintals, whi it was belleved a few weeks ago would be sufficient. Sxact figures as to the crop are not avallable, as the government has not published any statistics for some time, but the newspaper asserts there is general agreement in the grain centers that the crop is lacking both in quantity and quality. Large quantities of wheat in north- ern and eastern France have germi- nated, says Le Temps, making it unfit for use. One newspaper, it declares, has estimated the damage to the northern crop at 40 per cent. Tax Refund in the District of Columbia Missouri Power & Light Co. First Mortgage and Refunding 6'2% Bonds, due Dec. 1, 1943. The management of the Missouri Power & Light Com- pany is practically identical with that of the Illinois Power and Light Corpora- tion. These combined prop- erties constitute one of the most important groups of public utility properties in the country. Price 98, and interest Yielding over 6.609, Send for deschiptive Circular E. H. Rollins & Sons Founded 1876 416 Woodward Bldg., Washington Boston, New York, Philadelphia, Chicago, Denver, San Francisco Money to Loan Beerired by first deed of trust on real estate Prevailing_ interest and_commjssion Joseph 1. Weller 442 ¥an, L & Trun MR AFN.W. FEDERAL-AMERICAN NATIONAL BANK RESOURCES $13000.000 1315 F ST Jonn PooLe Mressem German Securities (All Issues) Bought and Sold Telephone Main 2867 435 Star Bldg. at 1433 K Street N.W. EQUITABLE Co-Operative Building Association Organized 1579 44th YEAR COMPLETED Axnetx $4,841.727.40 Surplus - .$1,293,561.42 Save Now While you have steady work and a regular income, save. Join the Kquitable and save systemadically. Subxcription for the 87th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F ST.N.W. JOHN JOY EDSON, Prexident FRANK P. REESIDE, Sec'y WE HAVE MONEY TO LOAN ON IMPROVED RESIDENTIAL AND BUSINESS PROPERTY In the District of Columbia Prevailing Interest Rates Consult Our Loan Department WM. H. SAUNDERS CO., Inc. REALTORS Main 1016, 1017 Why Take Less Than 6% wi 7% OU can get these rates of interest with absolute safety on our First Mortgage Coupon Bonds, Y strongly secured by improved, income-producing property. Why take less for your money? Back of our Safeguarded First Mortgage investments, moreover, is the F. H. Smith Company’s record of no loss to any investor in 51 years. You may invest outright or purchase these bonds under our Investment Savings Plan in denominations of $100, $500 and $1,000, knowing that the strong, standardized safeguards of our bonds are an assurance of safety. Current offerings, paying 62,% and 7%, are available 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 The F. H. Smith Company Founded 1873 .1 ‘BUILDING A R, Exempt from all Federal Income Taxes $700, City of Staunton, Virginia 000 5%, Water Bonds Due serially September 1, 1929 to 1958 inclusive Dated September 11924 Principal and semi-annual interest (March Ist and September ln) payable in reasurer, Staunton, Vlrpnu. FINANCIAL STATEMENT Actual value of taxable property (official estimate). Assessed valuation for taxation (a] Total bonded debt (this issue inch mxmuuly 50% of ml valiies). A circular furnishing full particulars may be had upon request. PRICES TO YIELD: . 1929—1943 maturities 4.50%, 1944—1958 maturities 4.55%, Eldredge&Co. New York 815 FIFTEENTH ST. gold coin at the office of the City ipon the denomination of $1,000 with the privilege of full registration general obligation of the City of Staunton, incorporated in 1749 (population us cities of its size in the South, Staunton has Mercantile TB;lrut hfi. Deposit Company e, e e R