Evening Star Newspaper, September 23, 1924, Page 23

FIN WHOLESALE PRICES AT CENTER MARKET Liberal Receipts — Lettuce Bit Cheaper—Hardly Any Other Changes. fruits the of Today's and vegetabl Market New report of (compiled by Service Bureau Agricultural Eeonomics). savs: Apples—Suppl 11, demand miard v. barrels, 4 inches up, fair condition, baskets, Virginia, Maryla No. 1. various varietie 1.00a1.50; No. 1. Grimes and Wealthys, 3al.75: No. 1 Delicious. 2.00a2.50. Can s — Supp! moderate, demand moderate, market steady; o salmon standard pink meats, flats, 1.00al.10 jumbo, 125, 1.10a standard boneydews, trading slow, sales direct to retailers—fla 3s salmon nts. mostly 1.40. Cabbage —Supplies limited. market bulk, per ton, rou market some ishel liberal, demand steady; New York i 00230.00. Peach Market Steady. Onions—Supplies moderate, demand moderate, market steady: New York and Ohio. 100-1b. sacks Yellow varie- ties, No. 1. 2 Peaches pplic mand moderat: sylvania large de- Penn- moderate, mar bushel baske poor color, 2.7 Y. bushel baskets b Yirginia, and bushel Smocks, medium size, 2.004 1y 2.25; New York, bushel ocheste and, . frees 3.50; baskets 50, most- baskets bushel small 1'ears — Supplies liberal, demand market steady: New York. Bartletts, 2.50a3.00; t A3.00, most 00; Oregon, moderate, bushel Potatoes—Supplies moderate; de- nd moderate, market about steady: New Jersey, U. No. 1, 150-pound sacks, Irish cobblers, 2.5 green mountains, 2.10a2.30; giants per sack Small Sweet Potato Supply. Sweet potatoes—Supplies light mand moderate, market steady; Shore, Virginia, « -top st rels, yvellow varieties, No. 1, 5. Cele ipplies moderate: limited, market steady: New York, 2-3 crates, elf blanching, in the rough, 75; Pennsvlvania, full| crates, bunched. 1.00a3.00 per crate. Lettuce—Supplics moderate; demand moderate, market slightly weaker: New York, crates, big Boston type, fair qus u1.75, mostly 1.50. To- matoes—Homegrown receipts light demand moderate, market firm: home- srown hampers, No. 1 REMARKABLE GROWTH IN U. S. RAISIN INDUSTRY 0a6.00. | demand sushel First Shipments Made Just 33 Ag0o—250,000 Tons Shipped During 1923. Special Dispateh o The Star. FRESNO. Culif, September 23— California raisins are such a common | article on the retail grocer's shelf to- | @iy that he is inclined to think of having always had a place in his store. But in reality the Cali- i raisin industry is younger in than of the retail erocers o are selling raisins so extensively. wis only 33 yeurs ago, on Septem- - 9. 1581, that the first carload of was shipped from Fresno to York and eold in competition with raisins from Spain and other Mediterranean countries Although the first carload of raisins was shipped Bast in 1891. raisins were first grown commercially in California almost 40 vears before that date. In the 33 vears since the first carload of California raisins were shipped East, the pfoduction of Cali- raisins has increased until vear more than 250.000 tons of were harvested by the Cali- growers and more than $.000{ cars .4 from the | san J in California, the indus Years fornia vears California raisins have largely supplanted foreign raisons on the shelves of American retail grocers and in the homes of the American people. P INDUSTRIAL LENDERS TO HOLD CONVENTION Tenth Meeting Opens Tomorrow in During these Baltimore—Ritchie Among Speakers. Spectal Dispateh to The Star. BALTIMORE, Md., September 23— | More than 200 delegates from most of the States in the Union are ex- pected in Baltimore to attend the tenth annual convention of the American_Industrial Convention of the American Industrial Lenders' A sociation, which opens at the South- ern Hotel tomorrow. The Maryland branch of the national body will en- tertain the guests. Gov. Albert C. tice Richard B. preme Court of Ritchie, Chief Jus Russell of the Su Georgia, nd A, Goldsborough, executive Secretary the Baltimore Association of Com- merce, will be speakers s the con- vention banquet, to be held Thurs- | day. The program of entertdinment in- cludes a cruise down the Chesapeake Bay on Friday. On this trip Dr. Louis N. Robinson of the Russell Sage Foundation will report on the | progress of the survey of the small | loan business recently undertaken by | the foundation The convention will adjourn urday. of DBRY PRODUCTS. BALTIMORE, September 23 cial).—Live poultry—Spring cl pound, 22a26; Leghorns, 20a23; old | hens, 16a Leghorns, 16al8: old| roosters ducks. pound, 16a21;| pigeons, mair, 20a23; guinea fowl, receipts, 845 cases Eggs—Native free cases, dozen, 595 cases. Butte: pound, creamery, packed, 2 (Spe- ckens, | first bid 43 and nearb; offered 4. Creamery, good to fancy. a39; prints, 39a4l; nearby 36; ladles, 30a32; store ; process butter, 34a33. . PHONE DEAL PERMITTED. The Chesapeake and Potomac Tele- phone Company of Virginia was au- thorized by the Interstate Commerce Commission to acquire certain prop- erties of the Cumberland Valley Tele- phone Company of Baltimore City. 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. 1If a member violates these rules, he hazards his membership, which is usually his greatest asset. ANCIAL, NEW YORK CURB MARKET Received by Private Wire DY WILLIAM F. HEFFERNAN, Special Dispatch to The Star. NEW YORK, September 23.—The curb market today was extremely ir- regular. Profit-taking went on in some of the recent favorites simul- taneously with fresh buying in other quarters. Officials of the baking company last week took pains to deny rumors of a big merger im- pending. The street refused to be- lieve in these denials and the sequel has been interesting. Accompany- ing another violent rise in General Baking on the big board, United Bakeries and Ward Baking B on the curb went to new highs. Public Utilities, which had held the center of the stage on other da Direct to The Star Office were not as prominent. At one stage Appalachian Power was up a_point, and so was American Foreign Power. But these gains were more than off- set by sharp recessions in American Power and Light, East Penn Electric and United Light and Power. Con- solidated Gas and Electric of Balti- more was also freely offered. Realizing sales sent Duz Company shares below 27. Swift International was bid up across 30. There was a fair demand at rising prices for Jib Consolidated. In the oil group the feature was a bad break in Red Bank Oil, thought to be due to the abandonment of ent pool operations. Vacuum Oil distinguished itself by making a new high above 69. ——————————e EW YORK, September 23.—Fol- | lowing is an official list of bonds and stocks traded in on the New York Curb Market today: Sl in BONDS ousands High Lew. © 1 Allied Packers 6s.. LT! : “70‘14» 1 Allied Packers S Alum 78 pe 7Am Gas & 14 Am Gax & T Am Pw & Lt 0ld 6s 4 Am Pow & Lt G pfd T A Roit il 4 Anacoudu 6x . 20 Anglo Am 0Nl Fij N Asso Sim Hdw 613 16 At G & W ISS oy B & O 5 i 1 Beaverboard 8¢ 2 1 7 Ry “hilds Co Hs.. as Balt Textile 2 Ciban Tel 3 Detro.t City Ga roit Edison . lop Tire & R ix deral Sugar Gs '3 8 Federal Metals 78 6 Fisher Body fs 27 Fisher Budy b Robt 1 Hood Rubbe 13 Intl Match 6 Kan City T 7 Nat Leather 2 i New Or_Pub Ser North St Fow 61 StP Min 6las ¥ Pub Ser of N T Pure 0il Co 6 5 Shawsheen 12 Vacuum Oil & Valvorine 0il 10 Webs Mills 6 FORET § Gt Con EI P 40 Ind Bank Jap Kgdm Nethlds 6 3 L Aust Hy El 6 41 Paris Orl RR 7 1 Kep of Pol 1 KussGovt STANDARD OIL nits. 1300 Anglo Am Oil . 100 Cheseb” Mfx new 20 Eureka P L 100 Homble 01 & Ref 190 Imp 01l of Can ... 180 Indiana P L ... Pet Co L 40 Prairie ) South 1 'S 0 . "205 0 Ohio pfd 10 Vacuum Oil Sales INDE in hundreds. 2 Curib Snd . Cities Service ) Citlex Service T Git Ners T cfs - 11 Creole T Guif Oil of Ta . 40 Tudson Ofl ... e e Washington Stock Exchange SALES. Wastington Gas s 1930—$200 at 100%, $300 i S5o00 at 100%. at o0t Teaction Cor-10 at 82, 10 at 92, 10 T at 9 5 5 L gton Gas Light—5 at 30, 10 at 50, 10 sington Rwy. & Elec. pfd.—12 at 76 Loy vy ‘and Trust Co.—8 at 300, AFTER CALL Washington Rwy. & Elec. pfa.—6 at 7 Money—Call loans, 5 and 6 per cent BONDS. Bid and Asked Prices. PUBLIC UTILITY. } Lo rican Tel. & Telga. ds American Tel. & Telga. 4%4s.... Am. Tel. & Tel. ctl. tr, 55. Am. Tel & Tel. conv. & Anacostia & Potomac D.. Abacostia & Potomac EUaF. 3s.. & P. Telephone 5s.. . & P. Telephone of Va. 53 stial Traction R. B. 38 y & Georgetown Gas 1st Metropolitan 1i. R. 3. Potomac F oz Potomac El Potomuc Elec. Potumac El Pot. Elec. Pow. & . & ref Wash., Alex. & Mt. Ver. 3s.... Wash., Alex. & Mt. Ver. ctf... Washi,, Balt. & Aunap. 5s Washington Gas Washington Gus 65 Wash. Rwy. & Elec. 4s. Wash, Rwy. & Elec. gen. 6s. MISCELLANEOUS. D, C. Paper Mfg. 6s... Riggs Realty 55 (long). Rigzs Realty s (short). Southern Bidg. Glas. Wash. Mkt. Cold Storage 5s.... Wardman Park Hotel 6s.. STOCKS. PUBLIC UTILITY. Washingtor | Norfolk & W Wasl Terminal Taxi com. NATIONAL BAN rrers % M Federal- Amer Lincoln National Riggs - Second National Banl TRUST COMPA! American Security & Trust.... Continental Trust ferchants. Joun e a savings & Trust. Snion Trust. Wash. Loan & Trust ed States = Washington Mechanics... FIRE INSURANCE. American : | gra: 44 Lago Latin Pet ew Bradford Oil ew Eug Fuel Ol XY Oil.. 2 Peer Ol 80 I'en Bea Pennock_Oil 185 Pierce Pet : 49 Red Bank Oi1.. 31 Roy Ca X Salt Creek 20 Sunstar 011 4 Woodley Pei 18D 10 Acme Pack ....... . Allied Pack pr pfd Am Gax & EI n Am 1. & Trac 3 Am Tow & Lt new Am Power & L. Am & Fgn Pow Appaiac Pow & Lt Arizonn Pow & Lt Armour & Co ptd.. Brit-Amer Tob ¢ Tob rez. ity R R Nip B trust.. Pow & Ith Pow Ith prd. wealth rts. Contl Tob Inc.. Con Gax Bal new wi I Die Cast Co Dubilier ¢ & Radio Durant Mot ... Du Pont o @ 1011 14t ptd ure o n ‘Al & Br Mfg Glen ‘Alder Coal .. odyear Tire .... Hazeltine Corp Heyden Chem Hud & Maon R'R Hudson Co pfd .. 1 Ocean Radio < Radio ...... Kevstone Landover Hold Lehigh Power Lebigh Val Vo Lohi iy in Tos Nat_ Tea N Y Tel Co Nickel erless Motor. Pitts Term Pond Cr Po Prophylact Radio Cor, petti Candy ... Rosenh Gr Co pfd Rova Rad Co tr cfs tand Pub (o A.. T T R Swift & Co . Tenn Elec Power.. Thomp Rad Co cfs Tower Mfg w Tnion Carbide United Rak pfd.. TUnited Bak p nit G & E Unit Lt Ward Rak Ware Radio Corp... . Western - Western_Tow pfd Wh R Min Sp_nw Yel Taxi Corp N Y MINING. 5 Canario Copper ... Cons Cop Mines " Black Butte. Crovsus ... Deselop. . aficld Deep Min Hardshell Min Hawthorge i Hollinger ... inc - v Devel rmac Porc Plymouth L Ma Premicr Gold Min.. 2% Ray Hercules Inc.. .20 Reorgan Div Apnex .28 Rocky Mt § & R. 1% 2 Rocky Mt S & Rpf 14 San Toy .04 S0 Am G Spearhead Gold. Tonopah Exten Touo_Jim Butler... .08 Tri_Bullion rinity Copper..... S Continental... .1 2058 R il 2k 3TN i i Utali Apex... Wenden Copper. ... 19 West End Consol.. 19 West End Ext. 10 West Ctab. CHICAGO LIVE STOCK MARKET CHICAGO, September 23 (United States Department of Agriculture).— Hogs—Receipts, 15,000 head; desirable grades largely 10 to 15 higher; few sales, 10 to 20 up; underweight most- 1y unchanged; lower grades slow; re- ceipts very light; top, 10.50; good and choice, 160 to 240 pound weight, 10.00 a10.4 majority better, 250 to pound butchers, 9.85a10.00; desirable 140 to 150 pound weight, 9.50a9.90; packing sows mostly 8.60a8.95; good and choice strong weight killing pigs, Cattle—Receipts, 7,000 head; most killing classes unevenly higher; low- er grades fed weighty steers slow very uneven; others and western rs, 10 to 15 up; desirable fed earlings and handweight, 25 up in instances; fat she stock sharing ad- vanc bulls strong to 10 highe: vealers, 50 higher; best yarlings, 7.40; several loads, 10.50a11.00; several hundred head western grass steers to killers, 6.5026.85; one load, 7.25; ap- proximately one-half receipts com- prise Western grass offerings; bulk range run steers in killers flesh; bulk veal calves to packers, 11.00a12.00; outsiders paying upward to 12.50; stockers and feeders scarce; firm. Sheep—Receipts, 27,000 head; early sales fat lambs about steady; sort- ing moderate: bulk desirable natives, 12.50a13.00; culls mostly 9.50a10.00; choice range lambs, 13.00; best held at 13.50; sheep and feeding lambs steady, bulk fat ewes, 5.00a6.50; early sales choice feeding lambs, 13.00a13.10. NEW ISSUES ON CURB. NEW YORK, September 23.—Sev- eral new issues were admitted to tradng on the New York Curb Ex- change today, including Power Se- curities Corporation 150,000 shares common stock without par value and 58,054 shares non-cumulative second preferred stock no par value and Gen- eral Aluminum and Brass Manufac- turing Company 200,000 common stock no par value and 25,000 shares § per cent cumulative preferred stock of $100 pur value. AR G S The oldest inhabited house in Eng- land is Laddesdown Court, Kent, built some time before 1120. The greyhound can travel a short distance at a speed of 35 miles an houg, | GOOD GAINS NOTED IN OCEAN FREIGHT International .Marine Puts End to Deficit—Passenger Outlook Bright. By the Amociated Press. NEW YORK, September 23.—The shipping trade is more optimistic over the outlook, due to increased ac- tivity in eastbound freights and en- couraging prospects for passenger traflic in off months and next season. Earnings of the International Mer- cantile Marine Co. for the first eight months of the year are reported to have been about $1,500,000, compared with a deficit of about $700,000 in the same period of 1923. In contrast to a depreciation account of $5,579,000 last year, the company is expected to earn its entire depreciation charges of 4 per cent on its steamships this year. Masonic Bond Offering. Bond offerings were featured today by a new issue of $3,000,000 United Masonic Temple Building, Chieago, first closed mortgage leasehold 25- year sinking fund 6% per cent gold bonds at 100 and accrued interest to yield 6l per cent. The bonds are dated September 1, 1924, and are due September 1, 1949 Traders Absorbed in Bond. With professional domination of the stock market continuing in force, resumption of the upward movement in bond prices has absorbed atten- tion in the financial district. The re- cent gradual rise has been consid- ered significant from two stand- points, that of a use for accumulating investment capital and of prepara- tions for the impending German loan. . Cosden Reports on Income. Cosden & Co. reports net income of $5,233,173 for the six months ended June 30, after expenses and interests, but before taxes, depreciating and de pletion, against $5,208,459 in the same period last year. COASTWISE TRAFFIC REFLECTS LET-UP Special Dispatch to The Star. BALTIMORE, September 23.—Re- flecting the general let-up in coast- wise traffic, freight business of Mer- chants and Miners' Transportation Company thus far this vear is 18 per cent behind the 1923 figures. Since July 1. however, there has been some improvement. Passenger business of Merchants and Miners' lines, on the other hand, has shown a gain of 17 per cent over last year. In 19 senger traffic con- tributed $1,115,621 of the company's revenues, with freight bringing in $6,571,325. The passenger department is be- coming increasingly important. In 1923 the company transported 50,198 people between north and south Atlantic ports of the United States That figure represents a gain of 30 per cent over 1922, Merchants and Miners' lines in 1923 showed net profits of $636.329, or $11.78 per share. The company op- erates a fleet of 17 passenger and freight steamers and also a fleet of 43 lighters. FIRE LOSSES INCREASE. August Figures Take Decided Jump Over Recent Records. Fire losses in the United States and Canada during the month of August took a decided upward jump as com- pared with recent monthly records. As compiled from the daily records of the Journal of Commerce, the losses reached a total of $31.349.000, as compared with $23.968,800 in July and $24.474,300 in August a year ago. The fire losses for the first elght months of the current year aggre- gated $236,414.050, as compared with $274,015.250 for the came months last year, and $251.106,850 for 1922, WOULD CANCEL HEARING. Southern Railroads Get Together on Cotton Freight Rates. A recommendation that the hear- ing on Southern cotton rates, to be held at Montgomery, Ala., October 3, be canceled, has been made by W. V. Hardie, director of the bureau of traffic of the commission. The recommendation was made after a conference between cotton shippers and railroads of the South, in which it was reported a tentative agreement had been reached over proposed new cotton rate schedules. The tentative agreement provides that a suggested 15 cents per 100 pounds_increase in the compressed cotton rate be abandoned. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ST. LOUIS, September 23.—The Missouri commercial apple crop now is estimated at 619,000 barrels. This compares with a total of 850,000 last year. SEATTLE, September 23.—The canned pear pack of Washington will be light. Packers have paid as high as $90 a ton to fill orders booked early in the season and are reported to be picking up odd lots to fill con- tracts. HAVERHILI, Mass., September 23. —Shoe manufacturers here are much encouraged by the Winter outlook and requests have been sent to the unions for permission to put in over-time on Saturdays. SPRINGFIELD, Ill, September 23. —Central Illinois is expected to have only about half a normal corn crop because of the cool weather and rain. PITTSBURGH, September 23.—The expected increase in coke production in the Connellsville region so far has failed to materialize. The recent out- put shows a decrease. AKRON, September 23, —The tire industry in general here reports that the past Summer has been the best for several years. Big tire consumers are increasing orders in expectation of a price advance. DETROIT, September 23 —Growth of the South American business of Continental Motors has made it necessary to send a field representa- tive to that continent to investi- gate conditions. About 5.000 Contin- ental Motors now are being used in the harvest flelds, in addition to many automobiles. SHREVEPORT, September 23.—The Texas and Pacific road has a signed contract for 2,000 new freight cars to cost approximately $1,000.000. Most of these will be automobile cars. CLINTON, Mass., September 23.— The Roubaix Mills, makers of woolen dress goods, and the Ernsdale Worst- ed Mills now are operating their weaving departments at night, work- Jog on Fush orderm BANKERS DO MORE TOAIDINVESTORS Convention Told Confidence and Advertising Are Most Vital Factors. BY J. C. ROYLE. Special Dispatch to The Star. CLEVELAND, September 23.—There is going to be ample capital available in the next year to meet the require- ments of the commerce trade and in- dustry of the United States, accord- ing to Thomas N. Dysart of St. Louls, who will be the next president of the Investment Bankers' Association of America, now in convention here. Two things, Mr. Dysart said today, are going to bring this needed cap- ital into channels of distribution— confidence and advertising. “The investors of the country, both small and great, are getting to know their bankers better and use them more,” Mr. Dysart added. “They have found that reliable investment bank- ers can give them the same expert advice in making their dollars work efliciently and safely for them that a consulting mechanical, industrial, electrical or mining engineer gives his clients, Bankers Seek Better Service. They know that no reputable bank- er willingly sees his patrons put their funds into uncertain invest- ments. If they lose money he loses a client, and without clients he would soon cease to be an investment banker. Members of the Investment Bankers' Association hold firm to the policy not only that those with idle dollars should invest them, but that they should investigate both the se- curities they buy and the house through which they buy them. “This has established a confidence on the part of those whose money will serve in the future to keep the wheels of American industry at a faster pace. Confidence will undoubt- edly be strengthened by the campaign of advertising and education which the association have in view.” Do Enormous Business. An idea of what widespread effect this campaign is to have on American business can be gathered from the fact that the investment houses be- longing to the association have sold \ total of more than $30,000.000,000 of ‘nvestment securities, the money from which has put new life-blood into the veins of industry. 1In the first eight months of 1924, the new financing in the form of bonds and investment stocks placed has totaled more than $3.644,000,000. Of this sum more than $1,250,000,000 was in munition securi- ties. Public utility stocks and bonds accounted for over $1,000,000,000. There is every reason to believe that the new capital which will go into the business of the United States by next January 1 will exceed $6.000,000. The men responsible for the invest- ment of the larger part of this great sum of the public’s money are pla ing increasing stress on the neces ties that investment securities shall be secure so far as the investor is concerned. Mr. Dysart, who will hold the helm of the association craft for the coming year, is known as the sponsor of one of the blue sky law which have teeth in it. Warren S. Hayden of Cleveland also placed em- phasis on the necessity of safety to- day in speaking of “moral risk.” Greater Safety Urged. “Beyond material resources” he said, “there are intangible elements of security which those who have a hand in investing the public's money ought to think about. When one lends money, which, in effect the in- vestor does, he believes the debtor will be able and willing to pay, but back of that willingness he expects that there will be a sense of obliga- tion to pay. That is what we must have in mind when we talk of ‘moral risk.’ We have faith in moral worth. The basis for that faith is our belief that in each locality there are intelligent, well intending. well informed individuals, conspicuously placed or otherwise. who in the end determine what opinion shall be in that community and who are certain to sce to it that the moral risk of legitimate investment shall not only be safe today, or reasonably so, but that it shall be better as time goes on.” . George Caldwell founder of the a of New York. ociation, declared that investment banking today is conducted entirely with the thought of safety, not the thought of specu- lation. More Advertising Needed. John W. Prentiss of New York, re- tiring president of the association, said: “We all know that one of the quickest ways to get the attention of the public is by advertising. We have all seen great industries built up al- most entirely through advertising. We have something to sell to the public. In order to sell successfully our goods to the public, we must first sell our- selves, sell the honesty of our busi- ness, sell the economic necessity of our business and sell the idea to the public that if they are going to buy securities, the first thing they want to do, is to go to an honest dealer in securities.” Losses Reduced to Minimum, Frederick R. Fenton, secretary of the association, declared that transac- tions had with members of the asso- ciation had reduced the chances of loss through worthless securities to the lowest point in history. Members and officers of the associ- ation are givng full credit to the newspapers for their aid in educat- ing savers and investors through re- liable and interesting financial news pages and many strongly favor re- stricting the advertising campaign of members largely to such publications. —_— 16,000,000 AUTOMOBILE REGISTRATIONS IN 1925 Three hundred motor cars were reg- istered in the United States in 1895. In 1925, 30 years after, the mumber will be in excess of 16,000,000. This is not a prophecy, says a trade magazine, but a continuation of a table of registrations. In the 10 years from 1913 to date, the table of motor car registrations in hundred thou- sands, reads as follows: 12, 17, 24, 35, 51, 61, 73, 91, 104, 123. 1t is hardly prophecy to say that the next two years will show figures of 140 and 160 hundred thousand, or 14,- 000,000 and 16,000,000 cars registered. . FIFTEEN MILLION PEOPLE " LIVE IN ZONED CITIES More than 15,000,000 people lived in zoned cities, towns and villages, according to information made pub- lic by the division of building ana housing of the Department of Com- merce. Computations show that the homes of 27 per cent of the total urban population of the country are located in zoned municipalities, and it follows that most of these homes are protected from intrusion of garages, stores, warehouses or manu- facturing plants. BUTTER PRICES LOWER. CHICAGO, September 23.—Butter— Lower; creamery extras, 35%; stand- ards, 34; extra firsts, 34a35; firsts, 31%a32%; seconds, 30a30%. Eggs—Unchanged; receipts, 7,986 THE EVENING STAR, WASHINGTON, D. C, TUESDAY, SEPTEMBER 23, 1924 191,000-BALE DROP IN COTTON FORECAST Government Crop Report Places Probable Yield at Total of 12,596,000 Bales. ‘The cotton crop -was forecast to- day by the Department of Agricul- ture as 191,000 bales smaller than in- dicated two weeks ago, with a total production of 12,596,000 equivalent 500-pound bales indicated. The crop-reporting board’s forecast of production was based on the con- dition of the crop on September 16, which was 5.4 per cent of normal, indicating a yield per acre of about 149.2 pounds, compared with a condi- tion of 59.3 per cent on September 1 this year, indicating on that date a yield of 151.5 pounds and a total pro- ductfon of 12,787,000 bales. Last year's crop was 10,139,671 bales. Virginia's condition was 60 and forecast 39. — MAY HOLD UP MOLASSES. The State Department is under- stood in interested quarters here to have authorized Ambassador E. A. Crowder to make representations to the Cuban government on a proposed embargo against export of blackstrap molgsses owned by Americans should further developments of the question warrant such action. Cuban exporters and distillers have been engaged recently in a contro- versy over shipment of the molasses out of Cuba, the latter contending for an embargo until their needs have been met. The product is used in the United States in the manufacture of fertilizer, WE MAKE LOANS On Improved D. C. Property Current Interest Rates PROMPT SERVICE N. L. Sansbury Co., Inc., 1418 Eye St. N.W.—Main 5904 Continental Trust Company Capital One Million Dollars 14th & H Streets S E Whole Life Insurance HALF RATE . 'vea Five Years Send Date of Birth for Illustration. Double Indemnity—Disability Income Assots Over One Billi J. F. FOOSHE, Suite 1011, Main 1 Second 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 sat- isfactory. MORTGAGE DEPARTMENT (SHARNGN_& TUCHY) 713 and 715 14th Street N.W. Main 345, I =2 FEDERAL-AMERICAN NATIONAL BANK RESOURCES $13.000.000 1315 F ST Jomn PoOLE Parsmen Czechoslovak Republic 8Y% Secured External Sinking Fund Gold Loan of 1922 Series “B," due 1952 Principal and interest payable in New York Price at market yielding about 7.95% Circular on request The National City Company ‘Washington—741 15th St. N.W. ‘Telephone—Main ‘3176 Public Utilities Today’s Leading Investment Public utility securities are today the favored investment for a safe, adequate income. We have prepared an inter- esting booklet, entitled, “Pub- lic Utilities for Sound Invest- ment,” which clearly shows why this type of security of- fers one of the best oppor- tunities for investors. Mail the coupon today for a free copy. Thomas W. Brahany and Company Wilkins Building, Telephone ‘Washington, D. C. Main 6189 Thomas W. Brahany & Company, ‘Wilking Bldg., Washingten, D. C. Please send me 2 copy of your free booklet *Public Utilities For Sound Investment.’” NaM® «eovvevsonsees Address .. FINANCIAL. 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 Have you money to invest where it will be safe and produce the highest current rates of interest? Then us about our First Mortgage Real Estate Securitie: Mortgage Investment Department of SHANNON & LUCH 713 and 715 14th St. N Main 2345 MONEY TO LOAN On Improved Property in D. C. and Md. ANY AMOUNT—THREE, FIVE and TEN YEAR TERMG. o Lowest Rates. BUILDING PROJECTS FINANCED, FRED T. NESBIT 002 Investment Bldg. Main ~ Money Available for First Deed of Trust Loans 637 Interest Prompt Replies to Appfications JAMES F. SHEA 643 Louisiana Ave. N.W. ~ Money to Loan Becrired by first Geed of trust en real estats Prevalliog interest and_commission Joseph I Welles ‘53555 e “When Buying” Our 7% First Mortgage Notes —your investment is secured on carefully selected improved properties and placed on 2 sound, conservative val . Notes 0w available in amounts of $100 up. Apply Loan Dept. Mr. O’Domnell, Mgr. Chas. D. Sager Realtor 924 14th St. NW. 36 Main 37 38 MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Randall H Hagnes ¥ Go. 7382/ %RW Mmac Caj & Surplus, $2,000.000.00 ; B Over 50 Years of Steady and . Satisfactory 2 Service “This is a big bank, but it has a multitude of small de- positors. A “family” of over 42000 patrons constitute our reward for fifty-seven years of faithfully efficient service to the community. 2% Same Rate of Interest Paid on both small and large accounts National Savings & Trust Co. 57th Year JOHN JOY EDSON, Organized 1879 Ansets .., President 27.46 Oldest Savings Depository in Washington Cor. 15th and New York Ave. uitable Co-operative Building Ass’n FRANK P. REESIDE, Sec'y 44th YEAR COMPLETED Surplus .. Subscriptions for the 87th Issue of Stock Being Received (LLILLI L AL 122122 PO Shares 92.50 Per Month A Systematic Way —of saving accomplishes much; therefore open an account at the iquitable and start saving for the future. w915 F Street N.W. PEACE OF MIND—OR WORRY, WHICH? Securities fluctuation or industrial condi- tions are speculative. Speculation causes worry, dis- couragement financial loss. Over a Quarter of a Century Without a Loss When you invest in our First Mortgages your security is im- proved real estate, tively appraised, and your prin- cipal and interest absolutely safe. subject to market and frequently conserva- B. F. SAUL CO. Main 2100 1412 Eye St. N.W.