Evening Star Newspaper, September 18, 1924, Page 29

FINANCIAL. .RR"}ES LOWERED 'NEW YORK CURB MARKET A'|' GEN-[ER M ARKH Received by Private Wire Direct to The Star Office Tomatoes, Cabbage and Pears Are Cheaper at Wholesale. FINANCIAL. MONEY TO LOAN On Improved Property in'D. C. and Ma. ANY AMOUNT_THREE FIVE sad TEN 4 YEAR TEEMS. - Lowest Rates. BUILDING PRQJECTS FINANCED. FRED T. NESBIT Investment Bldg. PEARS RISE IN PRICE Offerings of Peaches Increas Steadily in New York. 8pecial Dispatch to The Star. NEW YORK, September 15.— Offerings of elberta peaches are steadily increasing, but the market continues firm for the best offerings ut $2.25 to $2:50° per bushel basket. Grapes were steady today with sales ranging as follows: Per 12 quart basket, black and Delaware varleties, 75 cents to $1, and Niagara, 65 to 75 cents. Pears showed an upward trend, several carloads ef bartletts selling nt $2.50 to $2.621 ner bughel basket. SALE FIRST MORTGAGE NOTES Connult Us It yon Bave funds for investmencs THOS. E. JARRELL Memder Wa VETERAN BROKER FIRM SUSPENDED Day & Heaton on Stock Ex- change Since 1871—Fail to Meet Obligations. ¢ FEDERAL-AMERICAN “NATIONAL BANK RESOURCES $13.000.000 IISFST Jonw PooLE Paesieem than this gain. Ward Baking on a large turnover, came down more than a point. As part of the move in the motor group the new General Motors was actively bought, crossing 60. Swift International was in demand at higher prices. The new Nickel Plate 80.d at 74% as against 74 at the close Wedaesday. Buckeye Pipe Line at 57 was/up 2 pojnts from Wednesday's final. Vacuum Oil was aotively dealt in 8t an advance. Other oil shares were comparatively dull. The latest production figures , showing. an in- crease in the last week in the crude 0il output had a restraining in- fluence. BY WILLIAM F. HEFFERNAN, NEW YORK, September 18.—On the :urb exchange today the principal | moves were upward. One of the fea- tures wa:: American Power and Light. Ihe new stock was up nearly 3 points irom the low of the previous day. The old stock jumped 20 points, from 400 to 420. No expianation appeared be- jond the watisfactory earnings posi- | tion. While denfals of the rumors of u Lanking consolidation were not en- {drely accepied on the curb, they rought wbout a certain amount of jrealizing in the baking stocks. | Lnited Bakeries sold early in the aay {at 110, a new hizh. but later lost sx Bank Bldg. Phone Main 766 A Mark of 'Confidence Asxociated Press. NEW YORK,' September 18.—The brokerage firm of Day & Heaton, one of the oldest members of the New York Stock Exchange, was suspended toduy for fallure to meet obligations. The firm has been a .member of the exchange since Beptembér 1, 1871, Members of the firm are ¥ Day, W. W. market report on frults compiled by the Mar- . Bureau of Agricul- cs, says: Supplics liberal, demand market dull Bushel bas- Marylatd und Virginia, various varieties, 1.00a1.50; fancy Grimes, 1.7 00: boxes, Washington, extra faney 2 as, medium to large Maryland, fancy Win- nanas, medium to large sizes, barrels, sales direct to reailers Virginia. No. 1 Delicious, 21 inches| 11 Al up. 10.00; No. 1, Grimes inches up, |} 4lm 6.00 inches up, 4.00a5.00, An Cantaloupes—Suppties moderate, de- mand moderate, market steady. Colo- ado. Salmon standards 4 mostl Pink Meats and alinon Tints, 125 and 15s, 90a 0; jumbo flat and 12s, 1.00a1.15. Cubbages Chenper Today. Cabbage- Supplies liberal, demand | moderate, market slightly weak bulk per ton, round type, l HEN Washington was’,young and her famous avenue still a street of the future, a dis- criminating public had already come to know and appreciate the first mort- gages handled by this house. Time is the real test of worth. T oday, more than a half century later, th name of “Swartzell, Rheem & Hensey _Company” in connection with first mortgages inspires the same feeling of confidence as the “Sterling” mark on silver. LEAKS! 103 ert of S ——— l EM and cent interest, | payable lnlfln\lllly nnn d on cor- || ner_ busis perty. le guaran. teed by l !-u!- a'mc Company. | Immediata celivery. the |} R Stone & Fairfax 1342 New York Avenue N.W. “ales INDEPENDE STOCKS, n hundrecs, 3 Carib Bynd ... U Sey pd reole Synd 18.—Fol- Qi bonds and New Yoik NEW YORK, September lowing is :n official list of stocks traded in on the Curb Market today: Jles in BONDS. tioasand i You ought not to be satished with a return of only.3 to 5% on vour bonds and de- posit certificates WHEN you can ob- tain a 6% yield by investing your funds in our FIRST MORT- GAGE NOTES. They are absolutely safeguarded, because secured upon I M-~ PROVED real estate in the District valued conseryatively at’ twice the amount of the first mortgage. ry 'V, Heaton and Willlam Wil- son Healon, who hold seats on stock exchange, and orge Christian, James H. Waterbury F. W. Giffin. A letter from the firm to the presi- dent of the exchange sald that the company’s troubles were due to the “defalcation and disappearance” of one of the partners, George R. Chris- than, 0 and Close. udtord Oil. Fuel Oil.. b Saul Building | 925 15th St N.“.{ B. F. SAU Co. 1412 Eye St. N.w., Main 2106 $40 DROP IN-COTTON IS BLOW TO TRADE Business in South Takes Severe Tumble—Government Fore- cests Blamed. Royal ¢ Lyan ¢ Sait Ck Salt Ck prod 1 Can Nat Ry 5 Suustar Oi 1 Cilds o tix We are now offering these Notes, secured by improved Washington real estate, in denominations of $£100 and upward. They return 614, and bet- ter. hd Swartzell, Rheem & Hensey Co. 727 15th Street, N. W Washington, D. C. 55 Years Without Loss to An Investor 0030.00. Peaches—Supplies moderate, mand modurate, market steady Jersef, Pennsylvi bushel Daskets Maryland. [ Aled Pack pr pfd I [ A S eraph Ain vow X 4 Apralac P & Lt pf Al Dauiels M. Deere & (o Tion 1 Detrot Caty 10 Detiot Edb Duniop T & Continental Trust Company Capital One Mllhon Dollars Hookiet: Nlh & H Streets Mortgage Investment Dept. LI TN 25 lST MORTGAGE MoJNT?T b“’ | SHANNON. & LUCHY) TO LOAN S On D. C. and Md. Real Extate at Current Rate of Interest THOS. E. JARRELL Washington Savings Bank Bldg. medium size, lies modeyate. demand | ket firm. New York vellow | Salways, Onions- moderate and Ohio, Send for descriptive Spocial Dispatel 1o The Sta NEW ORLE. September 18.— Jobbers here report husiness in all lines much quieter than it has been for six weeks. This is especially true of dry goods. All attribute this *lump to the drop of $40 a bale in| the price of ¢otton. Prices paid in | the interior for middling average around 20 cents which is 2 cents less | light: de- . A 4 | than it costs to produce last rket firm.~ Home- | 2 ; e 1 108 . t¢ | and probably 21 cents less than bushel ts, Nancy Halls ouikiiomers Cas ped cost to make this year. and yellow varieties, mostly 2.00. ontin 1ol Many complaints come from coun- Pears Are Alvo Lower. 3 ll"l'.\“;\ o try merchants over the Government e e DACis ol crop estimates. They attribute the | moderate arket slightly weaker. Durant Mot.. drop In cotton to too frequent esti- | Now S Boanc) bkt B tIEtEsl mates and assert that the Govern-| e e nesictaHaTteTy ment's forecasts of yield are much | Orege Boxe J dalovst oAt any inflated. Farmers are holding lh(lr‘ few sales, 500 il 3 cotton and merchants are restricting | Lettuce Suppligs moderate buying in consequence. mand moderate narkeét stead. York, crates. Dis Bosion type, 1 2.00. - Tomatoe: al; Zhtly bushel hamp Corn—suppli moderate: market grown, Grapes—Supplies fornia crates Flame 2.00; homegr various varie Cele licht; 10 Tutern K 7 & Kenuveort Val Har Ey 21 Lebigh Val R K 5x. 10 Motor Prod Cosv Moun~ ] 713 and 715 l4th St. Giants, Main 2343 N.wW. r sack moderate RIURIRR NI URN R LR R UL DU NN RN NN DR Rl Rl 1 0o’ Power 9 Penn Pow & 2 Phila 3 Phil Pe 28 bub erv X3 60 wi Reasonable Rents FOR Suites -or Single Rooms High Cellings—Ample Light o | Day and Night Flevater Service TEXTILEEMPLOYES | Fedort amoican AGREE TO PAY CUT| National Bank Bldg. Amoskeag Workers to Accept 10‘ 1317 F Street N.W. Apply Room 505 Per Cent—Company Urged 20 Reduction. | de- The American Coal Corporation Mine. Executive Offices’ Yard Evelyn, W. Va. Washington, D.C. So. Washington, Va. i Homegrown supplies moderate; market homegrowns, half- | s No. 1, mostly 75. | moderate: demand teady; home- 3vat0 per dozen. moderate; Cali- Tokays, ‘mostly crates, | and M. 256—PHONES—M. 700 Money to Loan Boerired hv fect Anedaf tener an real setate | Prevaillns interest and rommission B the As<oclated Press | Joseph I. Welier %0 Wasa. . & Trus MANCHESTER. N. H., Scptember 18 | Josep! Bidg.. 9th & F N.W. —Representatives of operatives of lh('y “When Buying” Amoskeag Manufacturing Compan Our 7% factories here voted unanimously lite | First Mortgage Notes vesterday to accept a 10 per cent re- duction in wages. s investment i selected Tmproved a 11 Tnd B Tanan o - 1 King of Neth ¢« 3 |mr_ Aus Hy York full Pennsyl- bunched, market dull; New crates, Lunched, 5.00a6.00; vania-New York, full crates, no sales reported. RUBBER INDUSTRY GAINS 35 PER CENT Census Bureau Fxgnres Show Tlres. and Inner Tubes Lead Huge Output. 4 NNOUNCES an exceptionally favorable oppor- for investing surplus funds or converting low income securities in the form of a closed first mortgage. gold coupon bond yielding 7 per cent. S Ni Pl onew pfd wi. os. Omnib Co vie wi.. in units. 100 Anglo- 100 At STANDARD OIL ™ ptd wi. \\ n Fr Co A Cieek Po Co Biush wi iefdseiaont s conpneq at AL mins| plementary conference, at which a| committee of 240, representing the| 14,000 workers in the factories. met | with the agent of the company, R. Parker Straw. The empleyes’ acceptance of a com- promise 10 per cent reduction was immediately communicated to the mill | management, which expressed the ! épinion that it could not guarantee | full capacity operation unless a 20| per cent reduction could be agreed | upon. The investar is secured by net assets of more than three times the amount of the issue and established carning power of over ten times the interest charges. cured on o rties and pl ve valuation. N amounts of $100 up. Apply I Mr. O'Doznell, Chas. D. Sager Realtor 924 14th St. N.W. Imp Ol of Can. Ind P L.. Intern Pet Co Lfd. new wi Singer Mfg ... 8o ¢ & 1 new .. 3 Stand Pub Co A 3 Stutz Motor Swift Intl an Dept Mgr. 3 Coupled with as per cent yield amply secured, the bonds have tax-iree and other features that commend them to the attention of the idvestor. The rubber industries had a co | bined output lued at $953,643.355 Tenn El Pow i last year, wh , the Census Bureau e - ho Radio Car v t ¢ - - | announced rday. represents an S ~ T e of per cent in the two e % CITIES SEB.VICE EARNINGS, | vears since 1921, when the total out- NEW vas $704,903,1 earnings and inner the 147, Tenn El Pow ad b Main 37 American Telephone & Telegraph | Company | ak prd. .. —Gi | Tk org YORK, September 18.—Gross of Cities Service Co. for vear ended August 31, were 31i.- | 41, compared with $16,638.¥7% in A limited number of these bonds are available in denominations of $100, $500 and $1,000. Subscriptions ubes comprised | lue of the total, 7.141. Automo- | ounting to asings numbered | 7; inner tubes, 56,933,646, and the preceding corresponding period. Net earnings amounted to 316,561,527 140th Dividend will be entered in the order received. The regular q; lars and Twenty puid on Wednesday holders of record Saturday, Septembe H. BLAIR-SM erly dividend of Two Dol- e Cents per share will be October 15, 1924, 1o stock- t the close of against $16,116,32 Balance after preferred dividends was $9.334, equivalent to $20.24 a share on the common stock compared with' 38,512, 130, or $18.30 a share, the year before. e PARIS BOURSE FIRM. PARIS, Septerhber 18.—Prices firm on the Bourse toda. Three per cent rentes, centimes. Exchange on centimes. Five per centimes. The dollar was quoted at 1§ francs 80 centime: solid rubber truck tires, 549, Rubber boots and shoes were valued at $131,739.724. The total number- of pairs of r boots, shoes, over- shoes and vas_shoes with rubber | wits 96,314,744, Rubber heels 8,493,357 pairs, valued at tern Power pf Wh R M S new v. Yellow Taxi N ¥. M1 Arizona (Globe Cop. Canario Copper. .. p_Mines. Cresson Gold .. ng Gold Florence Goldf Min .. iolafield, Deep Min Bend ook For particulars call or write, Washington Rwr. & Elec. Lanston Sihauts 10" ai at 78 H, Treasurer. The combined industries emploved | v average of 03 wyage earners| Wsshington Rtwr. 2,086 proprietors, firm members | National Mge. o5 {at 0% H2E ‘:‘;"’w"‘“’“;: Washington Gas Light—10 at s ages o 248 Ter cont: Money—Call loans. 5 and 6 per cent. BONDS. PULLMAN CO. EARNINGS Bid and Asked Prices. LESS THAN 5 PER CENT PUBLIC UTILITY. Bid. 45 Each Car in Service Earns $2.78 Per Day—Net Income for Year, $7.698,636. By the Axsociated Press ! NEW YORK. September 18.—The Pullman Company derived net income of $7.655,636 from the sleeping car business §: the fiscal year ended July 21, whica amounted to approximately | cents for each revenue passenger carried, or $2.73 per day for each car owned the compunv, E. F. Cary, president, reported to stockholders in the annual statement. He emphasized that this represented a net return of less than 5 per cent on a fair value of the properties used in conducting the carrier business of the company. A daily average of more than 93,- 800 passengers traveled in Pullman cars durihg the vea SAUNDERS WINS' POINT. Court to Ask Another Judge to Hear Piggly Wiggly Case. - B s MEMPHIS. Tenn., September 18.— | torminal’ Tuxi com. Judge W. W. Ross announced today ! that he would ask another Foderal judge to xit in United States District Court here to on litigation pend- ing between Clarence Saunders and the Piggly Wiggly Corporation. S SR =, V'hat Kxperts Buy. Trained investors always buy se- curities that haye a substantial loan value. One of the surest methods of | determining the value of any stock | is to seek a ioan on it. If your banker declines to consider it as collateral you can rest assured its marketability does not amount to much. —e- RETAIL TRADE PICKS UP. ST. PAUL, September 18 (Special).— Resumption of activities in the lum- ber camps, return ‘of railroad shops to normal operation and continued heavy demand for farm workers are| major factors responsibie for a mark- ed stimulation of retall business. In- dustrial employment is on the 'in- crease. Building mechanics are in larger demand and gn Increase -in construction work’is expected within 60 days. were Se«_:ond' Trust Notes Bought Our_clients are ready to pay | cash for SECOND TRUSTS. in || any amount. The rates will please you if the security is saf- isfactory. MORTGAGE DEPARTMENT HANNO! 713 and 715 14th Street N.W. Main 3345, Iny. pfd. 52 francs 75 The American Coal Corporation 827 Transportation vBuilding Washington, D. C. mill Div London, 84 francs 5 thorne Min ) Hill Top Nev 2 Hollinger ... Independence Lead. Jib_ Cons . 4 22 Kay Copper Corp. St Kerr Late ... cent loan, 66 francs 23 Main 2567 Asked American Tel. & Telga. American Tel, & Telg: Amer. Tel. & Tel. Amer, Tel. & Tel. Anacostia & Potom: Anacostia & Potomac guar. 5 C. & P. Telephone 58, & P. Telephone o pital Traction R ty & Suburban Georgetown Gae Metropolitan R Potomac Potomac Potomac Potomac | Pot. Elee. Pow. W Alex. & Mt, Ver. ash Alex & Mt Ver. ct . Bait. & A STRIKERS REFUSE OFFER. WALTHAM, Mass., September 18| (Special).—Strikers at the Waltham Watch Co. plant have refused a pro- posal that they return to work on the basis of the original wage cut and submit the differences to arbitration. R URLYORRIRERRR VYRR U RN W RRIR ) R (‘ag' rmac Por Mns Li . Plymouth Lead Mns Red Hill Florence. Keorg Div_Annex Rky Mtn 8 & Ite Rky Mtn 8 & R pf 8§ Iverdale . Silver Horn 8o Am Gold & P Tonopah Extens . Tono Jim Butler. Tonopah Min Trinity Cop United Verde' Ex: 'S Continental Unity Gold . i Wenden Copper 1 West End Consol West End Ext E-:'sg:a:_nssz; Safety and 7% Today— Tomorrow— 10 Years From Now FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF 500 DOLLARS AND UPWARDS Reandall / % nex @’ %.. 1207 %}mxfim/ aenas Rwy. Rwy. & Elec. gen.' 6 MISCELLANEOUS, D. C. Paper Mfg. 6s. | Rigga Realty 5 (long) Riggs Realty Ss (short). Scuthern Bldg. 6% Wash. Mkt. Cold Stor Wardman Park Hotel 6. STOCKS. PUBLIC UTILITY. American Tel. & Telga Capital Traction . Washington Gas . Nortolk & Wash_ Steamboat. Wesh. By, & Elec. com. BIG m‘f EXPORTS SEEN. * ROME, September 18.—The Austra- lasian wheat crop is foreseen to be especially in New South s,'Victoria and Western Austra- _'|lia, according to information receiv- ed the International Institute of Agriculture, that it is expected to have considerable influence in de- creasing the Importation of wheat from the American continent. If you had participated in every First Mortgage In- vestment which The F. H. Smith Comparty has sold since its organization in 1873, not once would these investments have caused you the loss of one cent of principal or interest. NATIONAL BANK. Capital. —e DEFICIT FOR AUGUST. NEW YORK, September 18.—The Public Service Corporation of New Jersey reports a deficit of $40,684 for August, an improvement of $489,017 over the deficit in August last year. For the twelve months ended August urplus was $6,312,835, a gain of $519,876 over the preceding corre- sponding period. Gross earnings were $83,393,652, against $80,261,497 the year before. Nat'onal Current offerings of Smith Bonds are ‘protected by the same safeguards that have made possible this 51-year record of perfect safety. You can invest now with the same assurance that today, tomorrow, or 10 years ‘from now you will be secure against loss. % A Commercial Nation: ' Definite Advantage —of & practical character, as well a3 undoubted prestige in mantaining your staading at & Dank such as this. A solid century, and more, of constructive: banking enables us to counsel with fimality on ull business matters. o R POTATO MARKET WEAK. CHJCACO, September 18.—Potatoes trading slow; market weak on white stock. about ‘steady on early Ohio's; receipts, 74 cars; total United States shipments, 838 cars; Minnesota sacked and bulk early Ohios, 1.20a1.25; Wis- consin bulk, round whites, 140al.15; sacked, 1.20a1.25; Nebraska sacked, early Ohlos, 1.40. Smith Bonds in $100, $500 and $1,000 der:ominations, paying 7%, are sold either outright or under an In- vestment Savings Plan that pays 7% on every pay- ment of $10 or more. Call Main 6464 or mail the attached coupon for full information. : ‘The F. H. Smith Co. Founded 1873 SMITH BUILDING ' 815 FIFTEENTH ST. - 1 |m | 1 |"I ! 1n| |"I 3% Paid on Savings Metropolitan Bank OLDEST National Bank in the City l&b St., Oppolte U. S. Treasury ed States. B Washington Mechanics FIRE INSURANCE, Americaz - The ¥. X. Smith Company, 815 Fifteenth St. Please send me, without obll- ition, ormation about current - :.g:.m..”.r ‘Smith Bonds peving 145 ¢ MISCELLANEOUS. bants® Transfer & Storage, 1 fi.’,’}.mm Linetyre v. 0id Du ieh Markct pid. 014 Dut e Corporation. American G EARNINGS SHOW ADVANCE. NEW YORK, September 18.—The G. R. Kinney Company, Inc., ang sub- sidiaries report for the six months ended June 30 net profits, after ex- penses and interest, but before.taxes, of $690,387, as compared with $643,- 157 in the first half of 1923. 110 Name ..... R Fa8 e R Address . AT 28 n