Evening Star Newspaper, September 11, 1924, Page 26

THE “SAVINGS DEPOSITS | * REACHHUGE SUNS Merchants Claim Thiriit Is| Hurting Sales—Home Buying on Big Scale. | BY J. C. ROYLE. | wand have in the last th business men of economic not resard these deposits as indicat- | ing accurately the purchasing power of the depositors. : steadily Merchants and re close students however, dc s is due perts to the part o throu _in the sbape of mort LER construc me mort- the means of and 2 the sums with which they mieet payments ™ Ne 2 | ding to expect to | | posed | deposited | directors NEW STOCK ON BOARD. Plate” Certificates Ad- mitted to Trading. YORK, September York Stock to trading for the SEOUUTLIY NERGER REPIRTED Three Big Concerns in Ohio to Handle Natural Gas in Three States. “Nickel NEW New admitted 1 11.—The Exchange has the certificates ckel Plate,” Pere Chesapeake and Ohio and Hockin lley shares in connec- tion with the Van Sweringen's pro- “Nickel Plate” merger. The action indicated that a large amount of the stocks of these roads had been under the plan by which be exchanged for the secur- Nickel I'late com- $26,058,000 issue of Nickel r cent bonds, sold earlier were placed on the they will it Pl this trading LAFAYETTE MOTORS SELLS OUT TO AJAX | Company to Pay Creditors in Part. Nothing Left for Stock- holders. By the Axsociated Press. PITTEBURGH, Pa., September 11.— Organization of the Ohio Fuel Corpo- ration with a capital stock of $96,- 000,000, througn the merger of the Ohio, Fuel Sup y. the Union Natural facturer: is announced here by sident of the ! iy, Who v . ] W corporatic The companies | merged are distributors of natural | gas in Pennsylvania, West Virginia and.Ohio. The new corporation will be organized under the laws of Dela- ware, it was announced. Of ' the be retained in the ury ‘and the remainder, $95,500,000, will be issued for shares of three companies merged under the plan made public by Mr. Crawford on' the following basi For each share, par vulue $25, of the Union Company. shares of h s NI holder Cory Stock- eptember 11. X Motors La Fayette ave approved the cept cars i of tion 1l its assets, ri for each share, the Manufacture; Company, 2.08694 with not inctuded,” Heat able th of the Fyedr ¥ ENING _STAR, WASHINGTO DIVIDENDS DECLARED. Eastern Rolling Mills Report Busi- ness Picking Up. Special Dispateh to The Star. BALTIMOR! September 11.—Direc- tors of the Eastern Rolling Mill Com- pany yesterday declared the regular quarterly dividends of $2 a share on the preferred and $1 a share on the common stocks, both payable October to_stockholders of record Septem- ber 15. President J. M. Jones submitted a tatement showing that the dividends had been more than earned. Mr. Jones also told members of the board that the steel trade was gradually improv- ing, and that the plant operating at nearly 60 acity. A few months than 40 cent of the machinery was employed. s AUTO PRICES CUT IN GREAT BRITAIN Substantial Gains in Exports of Cars Also Reported—Im- ports Decline. e of automobile resulted from the McKenna duties, which August 1, a to the Bankers' Trust Com New York. A substantial inc the export of British cars wa in statistics for July, when 1,56 shipped to foreign countric pared with «l of the SOUTHERN DECLARES REGULAR DIVIDENDS By the Associated Press. NEW YORK, September 11.—Direc- tors of the Southern Railway Co. to- day declared the regular dividend of $1.25 a share on the common and preferred stocks. Earnings of the road so far this yeer have indicated an annual return of between $9 and $10 a share on the common stock. NEW COMPANY FORMED. Virginia Packing Plant to Be Operated Next Season. : maximum capital, D. Carter, presi- president; Chilton, secretary and Directors: R. D. Carter, H. Hill, J. H. Ad- denbrosh, Tilgham and W. M. Hill. The company will operate| the defunct C. E. Davis Packing Com- pany plant at Fleeton, in Northern | ck, next season. treasurer. w. J. BOND ISSUE GRANTED. The Chicago, Rock Island and Paci- fic Railway Co. today received authority from the Interstate Com- merce Commission to issue $5.000,000 vear 5 per cent secured gold notes to be sold at not less than 97.6 per cent of par. It will pledge $7,-| 500,000 of first and refundng mort- 4 per cent gold bonds as col- Al security. D. C, THURSDAY, SEPTEMBER 11, 1924. PRICE OF 'FERTILIZER MATERIALS JUMPS Special Dispatch to The Star. BALTIMORE, September 11.—Re- ports made by fertilizer manafactur- ers in Baltimore indicate a very strong situation. During the past few days the companies report or- ders coming in at a very satisfactory rate. Due to the increased demand and the shortage of supply, there has been a decided increase in the price of various raw materfals used in making fertilizer. This is particu- | larly true of ammoniates. Prices of all grades of tankage and fish are very much higher than they were a few weeks ago. The price of acid phosphate is very firm and sales made recently have been at a price approximately $2 per ton higher than the prevailing price last June. PR CROP PROSPECTS GOOD. Maryland Farmers and Bankers Are Now Very Cheerful Special Dispateh to The Sta BALTIMORE, September 11.—Local bankers and manufacturers are more optimistic over the business situation than they have been at any other time this year. Crop prospects are verv promising. Two weeks more of warm. dry weather will insure, it is said, a splendid yield of corn. Farmers are receiving high prices for their ofher grains, and if corn escapes frost they will be in a better financial position than they have been for several years. Merchants In the country districts are Increasing their buying. | tember 6, CRUDE OIL OUTPUT_ GAINS DURING WEEK Summary Shows Efforts to Cut Down Production Are Unsuccessful. By the Associated Press. NEW YORK, September 11.—The dally average gross crude oil produc- tion of the United States increased | 7,800 barrels for the week ending September 6, totaling 2,038,500, ac- cording to the weekly summary of the American Petroleum Institute. | The daily average production east of the Rocky Mountains barrels, an increase of 8, a decrease of 700. Daily average imports of petroleum | at principal ports for the month of | August were 204,516 barrels, com-| pared with 238,000 for the month of July, and for the week ended Sep- tember 6, 177,143 barrels, compared ' with 239,857 for the previous week. | Daily average receipts of California | oil at Atlantic and Gulf Coast ports for the month of August were 130,613 barrels, compared with 95838 for July, and for the week ended Sep- 74,286 barrels, compared | with 136,857 for the previous week. | There were no changes reported in | crude oil prices for the major dis $3,000,000 FOREIGN LOAN. W YORK. September 11.—F sion o 000,000 loan to the King- dom of Serbs, Croats and Slo 3 anaounced here by a banking syndi- cate headed by Blair & Co. The loan in the form of seven-month 6 per cent Treasury notes, Which were sold privately at par and accrued inte Proceeds will be used for the comple- tion of railways now under construc- ten- st. FORRENT Fircproof building, 30000 square feet. 1214 New Hamp- shire Avenue J. LEO KOLB 923 New York Ave. Main 507 D77 22 LT 7777, DURANT “Just a Real Good Car”’ (ALL L LI LI L LT LA L AP accounts with merchandi substantial less than the its bank loans. The Lave indicated that the such a settlement. would leave=nothing Nl ol otte hoiders, including the Nash Motors and individual b ould | Co. in return for the $2.000.000 sub- o i dicrena seribed by it at the date of the reor- Wl i ts ganization.” buildir c “One o* Sira - | buildin sult in incr i cial and ¢ the board, ./ di , ac,,,ding to the announcement, and wiy be sub- mitted to the stockholders L cer. s will b . Many of the mort tended bLut when granted it usually dition that some ex- is ports of 1924 totaled 6, the co against 1, d last year. other hand, showed to 6,554 vehicles seven months of made TIMBERVILLE, Va. September 11|® (Special).—Ten carloads of peaches B are being shipped daily from thi point. The fruit, while late, is saia | B to be of the finest quality and re-|g turns to Rockingham County from | the 1924 crop, it is estimated, will| total $100,000. Prices are quoted as high as $1,000 per carload. | creditors uld aceept this for the stock- CHICAG{GBAIN PRICES. | cHIcA September 11.—Owing largely to 4 ZieDALAIS ROYAL 25 s di G and 11th Sts. Service and Courtesy. Established 1877 RE EARNINGS REPORTS. V. YORK, S ember 11.—The rn F lway report to the Exchange for the shows net income | of $2,69 1 after t and charges, equal to $1.08 a Net profit of the Standard Co. in the first six months of a decided upw soon as business nee was iy due to the within the s | gover crop report, duce a profit,” the |though taking no account of Septem- “has been the rapid im- | ber frost, showed a huge reduction in ement during the last three or|the estimated yicld as compared with | four years in the quality of the me-|1923. European crop damage advices | 1921 wus $6 HaI Putiac o { dium-pricea In the spring, after [and indications of liberal port busi- | ferred dividends, to $2.08 on the com- | consultation with the company’s bank | ness on this side of the Atl c te | mon stock. Gross sales were $4,008,- creditors and in view ‘of the contdn- |ed also to strengthen e Surplus was 0. {ued loss from operation, it was de- | opening, which ranged from 1 cent to |cided that the company must ma-[1% cents higher, with December, | terially reduce the price of its cars so [ 1. to 1.30 and May 1.35 to 1.36%, | is to liquidate the stock of finished | was followed by slight setbacks from cars and materials on hand in order | initial top figures | to prevent their becoming obsolete on| Wet weather and the company’s hands and to put it in | gave firmness to corn position to wind up its a opening at 1 Kkholders should ber, 1.13 supply further funds tc steadied at produce @ new and day’s finish PARIS MARKET STEADY. September 11.—Prices were on the Bourse tod nt rentes, 64 francs § on London, 83 fra Five per cent loan, 15 centimes. The dollar was at 18 francs 791 centimes. Hats to Suit Many Individual Tastes Off-the-face Hats, pokes and medium brims—of velvet, panne, Plate franc: quoted " that on pr rather perty than on present their new Values Higher. ft which part of added in bengaline and velvet combina- . Dew those en about th tions. shade to % cent | . and held near to About N Trimmings of ostrich, peacock, applique of flowers and embroid- ered designs. Tlle ca’ars are black. rose- wood, purple, green, wood shades, sand and copen. All are $10 hats, featurecl for Frfday at $7.50 Palais Royal, Second Floor * selling of kened the deferred provisions mar which H omote | rs to dispose of. The liquidation of | tining assets will not suffice | tors in full ur directors feel that they can | recommend to the La Fayette stockholders putting any more money into 1 wpany in a further effort to establish the busines APPLES BLOWN OFF. | the ren in the valu co ned *for the Delawar i at Philadelphia e bank « mmis- | ROt an i J | Special D sgaten to The Star. RS IR | " MARTINSBURG, W. Va. ber 11—The light crop Golden apples in this s VERY . efficient office demands an | accurate system of filing import- cL September 11.! ant letters and documents. If it lacked —Shopmen at the hea epair shop iliti 1 and the roundnouse of the Baitimors | facilitiestfor folowingisnch ajayateny and Ohio Railroad, Virginia avenue it would cease being an efficient office. were placed ly.:;:lwd on full time, or | With the accumulation of correspond- six d s a week, working basis yes:. 11 1 ~ morning. ‘The * quota ot | ence caused by increased fall business, mechnics and helpers benefited is | you will need the convenience and pro- approximately 2,000 men, the num-| tection offered in these: sturdy 4- drawer steel file cases. Inspect them at our salesroom Today! zes 1 Dispatcs to The Star. heavily laden limbs MBERLAND, Md., A considerable pro- the crop has been blown comparatively light S ay. The continued | | cool weather has been extelient for | coloring up the fruit on the trees.| but there is still need for more rain to mive the later vari size, it 1s propercies bridge co fair pric n the pur geeded the e Building ¥ Latest renorts fri 5 | dustry from s t w) 1 - h oft trees br they the eountry tinues Permits cities ¢ . 000,000, 5 ber employed there previous to May | i in led for expis made gain as compared with A e onn of about 3 per co 1 eane howed activity as gain in the | for a big Winter tourist mi, for example, showed August of 482 per cent with August last vear. vour own” apartment seem growing in favor in rapidly in- is notable apartments this year by the larg. ator of such buildings re made to friends and of persons already Apartments. y advancement during weeks. According to official records the average move- ment_daily is 600 loads of coal from the Fairmont region, 200 of freight | from extreme points West and 500 additional of mixed freight from off the Connellsville division. e e If vou meed work, read the columns of The Star. of the Pa Th marked in the Ebuilding prozrims ur Iy stimulated by pre turns from this year's Activity i especially . regions, v ific improvement Midwest, where HERE is something very fine and dis- tinctive about “Can- ada Dry”—a certain character and per- sonality, if you will, thatare asinevitably a part of every out- standing product as of every outstanding man. Years before a separate plant was established in this country, this famous old ginger ale was served in the Houses of Parliament in Canada, in the residence of the Governor-General and in the Royal Canadian Yacht Club. Such patronage is not easily won, nor freely given. Truly it has been said that until you try “Canada Dry” ) you have no idea how good | ginger ale can 1eally be! Made in the U. S. A. by CANADA DRY GINGER ALE INCORPORATED 25 W. 43rd Street, New York, N. Y. In Canada, J. J. McLaughlin, Limited Established 1830 ‘CANADA DRY" Specal Introductory | r113 COUPON 15 WORTH 100 ] Hand it to your dealer when you order two the best way |pottles of “Canada Dry” and will allow] to kmow “Camadn |you a reduction of 10 cents from the regular| Dry” is to try fit. Owme V. 8. |purcbase price. W, §A' bottle will tell you more | about its wonderful fiavor |Your name -l than a hundred advertise- | | Your address . ments. To make it easy addre: e 1o bay that Sy | TO DEALERS Keep this coupon. 1t willl bottle, we are printing n Ibe redeemed by the “Canada Dry” representa-| Special Introduetory Cou- |tive for 10 cents. Dom opponite. Pleane use f1 | ,This coupon musi be presented o dealers before } 1 Neptember 19, I . ¥, HOLIZMAN, Fresidest les, Limited. . Telephone, 'MAIN 6352 oub s of h erops want owning such OfficeFurniture oemilkere baiees: foneonds THE BOTTLE 712 13th St. N.W. Main 1086 *'5'67 &'8 SHOES BOYS AT $3.50 & $4.00 W. L. Douglas shoes are actu- ally demanded year after year by more people than any other shoes in this country. il LU ] —and now it’s such an easy matter to repair the broken walls ANY ONE can patch a wall with Rutland Patching Plaster. It will not shrink as Plaster of Paris shrinks. It will not crack or crumble, or fall out of itself. It will not spot through paint. You can paper right over a Rutland patch without first shellacing the patch. Saves a lot of repair money. Real home folks can’t endure broken walls. a package of Rutland handy in the house. It comes in cartons like prepared flour. Just add water. It is needed wherever painting or papering is done. Be sure to ask your dealer for it. If he cannot accommodate you write to us, giving his name. We will mail you a 2%-Ib. carton and you can pay the postman 30c, plus the postage, on delivery. Ask your paint, wall-paper or hardware dealer for ii RUTLAND FIRE CLAY CO. - Rutland, Vermont ~ Rutland Patchlng Plaster Medium light Russia P ey AT7YEARS OF AGE broseos aToTa bl boarded Velour calf. ‘medium light Russia calf. WEAR W. L. DOUGLAS SHOES AND SAVE MONEY FOR 38 YEARS, W.L. Douglas’ name and portrait have stood for ‘quality, for economy and satisfactory service. W. L. Douglas shoes areexceptionally good values. Only by wearing them can youappre- ciatetheirsuperiorqualities.The exclusive,smart models,designed especially for young men are leaders everywhere. W. L. DOUGLAS $7.00 SHOES are remarkably good value. Seldom have you had the opportunity to buy such high-grade shoes at this popular price. Shoes of equal quality, comfort and service are rarely found in other makes at our prices. WHEREVER YOU LIVE, demand W. L. Douglas shoes. They are sold in 120 of our stores in the principal cities and byover 5,000 shoe dealers. For economy and dependable value, wear shoes that have W. L. Douglas’ name and the retail price stamped on the soles. The stamped price guarantees the value. If not for sale in yoursvicinity, write for catalog. W. L. Douglas Shoe Company, 210 Spark Street, Brockton, Mass. Our Men's 35¢ Footform Hose look well and wear well. W. L. DOUGLAS STORE IN WASHINGTON: 905 PENNSYLVANIA AVENUE N. W. OPEN SATURDAY EVENINGS Other Rutland Useful Products Plastic Stove Lining Boiler Covering Waste Pipe Cleaner ‘Water Glass for Keep- ing Eggs Fresh Pipe Joint Cement Asbestos Roof Cement Furnace Cement Have WEAN TSN NN AN N AN R AT