Evening Star Newspaper, January 28, 1925, Page 23

FINANCIAL, - PRIGES HOLD FIRM AT GENTER MARKET Demand for Fowl Causes Ad- vance—Roads Make Receints Light. - Wholesale dealers think last night's Wtopf will have but little effect upon the market. It probably will mean fhat rough roads will prevent ship- Mment of exgs from nearby Maryvand and Virginia, but dealers think prices will not be affected to consider- able extent “It is only a question of a few warm days to bring down the price of eggs," remarked denler. ‘Warm weather is certain to start hens lay- ing, and increased receipts will bring lower prices Embargo placed on additioual West- ern States -against the snipping of live fowls to New York has resultad in 80 many demands upon the local market that fowfs huve become acarce and highsr. The llve fowls are kosher market, It stated, flebrews (nsisting upon having their poultry alive The ynusual condition of live fowls bringing a pr advance of dre €d stack prev today, live fowls being quoted while dressed 2t00% sold at 28 and 30. Today's Wholexale Prices. ter—Fancy, tub, -packed 2 —Fancy, selected, ¢ €9; average receipts, 56a. 43250, Poultrs chickens, 15a20; keats, geesa, 15a20 Dressed—Frosh kil 30232: roasters, 40a45; pons, thin he 17a50; prints dled, stor ge, Alive, roosters fowls, 25a voung, 30a70 Spring ducks, each 28830; 10a11; live Meats—Peef, 12a ; ambs, 26a30; hogs, 11al6; loins, 20a 225 hams, 20222, and shoulders, 1415, Fruit and Vegetable Review. arket report. on fruits egetables. compiled by the Mar- vs Service Bureau of Agricul- tural Economy. says Apples—Supplies moderate: oally no sales account Cabbage—Supp moderate: de- mand very 1light ascount weather, market steady; old stock: New York, hulk, per ton, Danish type, mostly around 35.00; ck, no sales’ re- practi- weather y—Supplies moderate limited account weather, sales to eatahlish market uce—Supplies moderate: salex to establish market Onions—Supplies light: demand very light, markee steady: New York and Ohio, 100-1n. sa yellows, demand too few too P'otatees—Suppl moderate mand very light account weathe few sales to establish market ex Very Light. Spinach—Supplies mand. . vers: | moderatr ght. n Texas, bushel baskets, de- steady 2,108 arket avoy Tomatoes- Cauliflower- sales r ed String bean. 1giht: too few w connt Supplies no . very . light; weather rate; eather Suppt ount no cén no ~Supplie baske modarate rket dull; few sales Texas, around o5 Be¢ts—supplies account wWeather. MANY NEW INDfisTRIES ESTABLISHED IN SOUTH Southern light Railway Reports 253 New or Enlarged Plants Start- ed Up During 1924. " Continued industrial development the territory served the Sou Railway s by a report ering the report’ lists ew Industries placed In opsration, enlargements of s industiies 5 : in rn ation ¢ large industries and ¢ The greatest activity & and e ing « installations of text mills and in enlargemeénts served by the Southern included spindles, 4,307 looms and machines was in the build- textile plant e machiner. SHORT-TERM SECURITIES. (Quotations fursisied by Redmond & Co.) 3 Ofrer Aluaium Co. of Amer. 107 Americas Sugar 6s 1857 1 American Tel. & Tel. 86 i nda Copper s 1928 017y iz o 5 1927 Sugar Ref. ed Metals & R Northers It 0ii Corp. of P Humble 011 5igs 1 Tebigh Pow. Sec. Corp. ] . & 8. 8. M. & Tiae 1650 e 1033 + 1939 8y 1961 28, 6 1037 28 1931 ber 7354 1630 fon 8135 1036, & u T oy | Called tor py s . at 101%, = per: i oy s 192 wment Februacy TREASURY CERTIFICATES, (Quotations furaished by Medwond & Co ) 4 March 43gs March 15 3 100 597516100 182 01 752101 315 FOREIGN EXCHAN (Quotatious furnislied by V. B. Hivbe & Co.) Nomtus! Seliig checks gold value. today. 3486063 $4.708, T “188 153 108 o 193 193 Lendoo Montreal Tarls, -frane Brosacis. franc Berhy, wark ome. lira Zurich, fran Athens, drac adrld; peseta Vienna. crown Budapest, crown ...l Rrague, crowa. . Warsaw, zloty Copenhagen. Copenhage Stockloim. It The international committee for radlo telephony is planning to con Yene in Paris April 16 for a four-day session. Noop.— | 10715 | Regelved by Private Wire B WILLIAM F. HEFFERNAN. NEW YORK, January 28.—Two distinet movements of equal promi- nence characterized today's tions in the curb market. the renewed - advance on laager volume of trading In shares, the other the radio stocks. In the case of the found further encouragement overnight news to work for prices. Foremost was the opera- One w; a much y the oil drastic¢ decline ‘in oils, traders in the higher reported NEW YORK, January 28— I ing is an officlal list of stocks traded ip on the Curb market today: bonds and New York BONDS. High. Low. 2 Allied 1 Allied 2 Alum 7 T Am Gax TAm Ruot Sug Tee s, Fow & Lt s, Packers 101 1039, Hdwe @l & W 18 S 88 Cit Nerv Tx 1) B OIt Nerv P & L o8 7 Cous Gus Bulto 65 A 1 Cons Gas Bal 6148 D 3 Cons Textiles Se Cuba_ Cong s Wi Cudahy 4 Deere & €0 Tios 4 Detroit City Gas s Detroit Edison &s A 5 Dunlop T & R s 10 Federal Sugar fs r. Robt Tw. alenn Nignal 00 Ts rant Trunk 6las Gulf 0il Corp 4 Tehigh Power Bs 11 Munitoba Power, il R, orris & Co 1% at Leather 8n States Pow 6lgs & Ming $las 10 Peunock 1 Phila B Do 101 102 100%, 1015 1014 1067 10404 141y n O s 1 nion Oil of Valvorine | 2 Webster Mills 613 FORBIGN BONDS v of Rogota Ss .. BAL 881, W 105 101 0 1005 100 {Sales in STANDARD OIL ISSUES { units | "5000 Angio Atinnt Atianix Huck 1 Crescent P 60 Cumberi 10 Gal Stz 400 Huml) 167 Tmp O | 8500 Lwp O Ca new | st A Tohos tos pid on 193 & 6 n PL Refin | ven Sontharu O Kansas | 0 Ke 0 Nebry o N 100 Swan & Finch 7300 Vacuum. il ) INDEDEN JENT 0L $TOCES Euglneers Federal Giliiand ibson Glen Gult Kirhy oil Pet New Max Land e O & Feaver 011 1ok 011 Corp 1 Bank 0i1 Koyal (an 0 & Bsan o Salt Sait Creek Prod Tidal Osage 011 wezucian Pet - Atlied Pac Am Gas & Tow & Lt new 0%y Superpower A.. Appaiac Pow & Lt Apeo M, Borden 3 Bot Cons Mills A. Roissonault . Brii-Am_Tob Cou Bkiyn City R R Bur Ad Meh nw pf 1045 Car Light Centrifug Pipe Chapin Sacks Cuilds Co new . 104 YOUR INCOME TAX Expert Advice Give States Internal Revenue Bureau Based on Latest Changes in Legislation. ARTICLE NO. 17. | The revenue act of 1924 provides { that the basis for determining tax- able gain or deductible loss from the sale or other disposition of property acquired after February 28, 1923— {the first income tax law became ef- fective March 1, 1913—shall be the cost of such property with certain exceptions. The first is that if the property | should have been included in the | taxpayer's last inventory the basis shall be the last inventory value thereof. For example, if a merchant in 1923 bought a certain article and it was not sold by him prior to De- cember 31, 1923, but was included in hix inventory as of that date. the taxable gain or deductible loss would be the difference between the selling pricé and the amount at which the article was carried in the inventory 1€ the property was acquired gift aftel December ' { basis sha'l be the same as it be in the hands of the donor or | preceding ov % acquired by gift. For example, a {man in 1921 bought steck in a cor- poration at $100 a share, kept it untit January, 1922, when It was worth $120 and then gave it to his son, who in 1923 transferred it to hi¥ wife, the utock then being worth $150 a share. 1t in 1924 the wife sold the stock for $200 4 share, her taxable profit.is mot $50 but $100 a share. the gain over the cast to the last preceding owner who did not acquire ‘the stock’ by sift. | 515 computing. the gain or loss trom the gale or other disposition of prop- erty acquired by gift or lr.’nn.lff-i' in trust on or before December 31.°1920, or by bequest, device, or inheritance, the basis shall be the. fair market price or value of such property ut the time of acquisition, For example, a taxpayer received in 1919 a gift of by the would last of $10,000, which he sold in 1824 for $15.000. The original cost (o the donor in 1916 was $12.000. The tax- able gain, however, is £5.000. (The next article in this series will appear In tomorrow's Star.) | ollow- | -r by whom it was not | real estate having a fair market value | __THE EVENING STAR, 'WASHINGTON, NEW YORK CURB MARKET Direct to The Star Office decrease in ‘domestic crude produc- tion of more than 28,000 barrels dally in the week ended January Large Wlocks of Standard - of New York were taken above 48, .where the price compared with the previous final of 473 4 of Indiana and Prifric Oil and Gas were exceptionally strong, while many of the independents advanced a half point te more than a point. The eelling movement in the "radios galned momentum as the session pro- gressed und prices fell away sharply. —_————— 20 o8 1ur 0 Cleveland Auto Cudahy Pac Com Power Corp Com Pow Corp pfd Cons Gas Balt nw Continental Hak A Contineatal Bak B ontinental Buk prd ‘ontinental Tob Ine STt e wl 2RI Doehler Die Casting 19 Dubilier C R new.. 31% Duplex C R v t e, 118 3 Dur Co A East Pean Eiec Co ec Rond & 8bpf 302 Bond new wl. 6% Rwy Secur Co ¢ Investors Metals T v (;rand Stor Film Tnspect 174 (4 183 (2 Grennan Bakeries Grimes R C R Flappiness Candy A Happiness Candy F Hazeltine Corp fevden (liem Inter Cont Rubber Inter.Oce jtadio Int Mateh prd Inter Util'ties 1t Jones Radin Kexstone Solether. Tehigh Power sec Lebigh Val Canl Leh Val Conl N Lib MeN & L new Liberts Radlo Ch S ong Bell L Co A oxatil Tron Music Master. Motor Wheel Murras Rty 3 Nat Dist provf Nat Pow & T N Y Tel (o pfd Nie Plate new wi Ni Plate new pf wi Nor §tn Po (or war Ohia Fuel Cor Omb Corp vte 1% 3 Lo i M & Tamb e Crenm Souther e "t 10k Stand Publish Co d S Thermo. Rad Thomn Rad Todd Stip Tower dite Thired Lt & Tow & ST feat pa Wath MINING. Canario Copper... 1 Chine Ext Minos Comstock Tunnel 1 Tonopah Divide. . 1 Tonopahi _ Extens + wst Min | 60 Verde Ext 8 Continental Toity Gold Wenden' ( ORDERS MAKE RECORD | Spectal Dispates 6 The Star | NEW YORK, January ware Age will =say tomorrow With inventories practically com- | pleted. the hardware trade generally | is showing renewed interest in Sprix merchandise. Advance orders | this s of goods are far heavier and more numerous than has ever been reported for the first month within @ vear. It Is further stated —Hard- lines is fai- 'y large, good assortient. Hardware prices are advancing. sed Hsts are coming from manu- arers. Home of the advances are belng absorbed temporarily by job- | bing houses. but the average advance is being announced promptly calling for a DAIRY PRODUCTS. | BALTIMORE. Md., January | cial).—Live poultry—Youn 26adl; Leghorns, ter chickens. 32a33; old old roosters 18; capons, turkeyvs, 42a47; old, $5a3 crooked Dbreasts, 23: ducks, 0; geese, 22 pigeons, pair, 35a40; guinea fowls, each, 40a83. Dressed poultry—Turkeys, pound, 35a47; poor and crooked breasts, 23; chickens, 26a old sters, 18; ducks, se, 2 capons, 30a Eggs—Receipts, 1,240 cases. and nearby firsts, dozen, 57%:, Butter—Creamery, good to fanc: pound, 36a40; prints, 40a42: ladles, 27a29; store packed, 21;.process but- ter, 33a34; dairy prints, 21a24; rolls, 21a24. 8 (Spe- ckens, 26; Win- hens, 24a31; 0a38; young 8; poor and Native PRINT CLOTH LOWER. NEW YORK, January 28 (Special).— Cotton goods markets maintained to: day the slightly lower level the reached Tuesday, when print' cloth quotations declined to 9% cents'for 64 by 60 and 10% cents for 65 by 72, rading - was dull. The raw silk market was quiet at unchanged price levels. SUBSCRIPTION PRICE FIXED. NEW YORK, January 25.—The sub- | scription price to employes of _the | Standard Oil Co. of New Jersey for common stock has been fixed at $35 |a share for 1825. Last vear it was $33 a share. NEW YORK DAIRY PRICES. NEW YORK, January 28 _—Bitter easy; receipts, 6,628 ©tubs. Eggs { steady; receipts, 12,787 cases. Nearby hennery, browns, extras, 6la6; Pa- cific coast \whites, extras, 59a60. Cheese, steady: receipts, 245,207 pounds. January. 28 —Butter lower; creamery, extras, 37%: stand- ards, extra firsts, 36a37; first 35a351%; seconds, 32a34. Eggs, r celpts, 6,571 cases; firsts, 5lasld ordinary firsts, 47ad8; refrigerator firsts, 42a43. 373 ; wil | | land, Dalias and 1 operation | advertising campaign w | of the 1ast | ever. has been made toward wage re- | to | Certainly no reduction in laundering | casts logms on the horizon for 1 that the individual order for Spring| I COLLAR MAKERS T0 REDUGE G5 Cheaper Prices to Consum- ers Not Yet Indicated by Important Merger. i BY J. C. ROYLE. Special Dipateh to The Star. NEW. YORK, January this Is.a free country by the fifteentls amendment Conmstitution, practically _everybody resident in the United States wears somebody’s collar. As a result of the | recent merger of Earle & . Wilson | with Cluett Peabody & Co.. about ver cent will wear the collars of the latter firm, according to retallers who distribute those products. Complete detafls of the.consolid tion and plans for the future haye not yet been worked ouf, but the trade sees In ‘the consolidation the cffect of a number of factors, Fore- most af these Is the recent settle ment out of court of the suit brought by the Phillips-Jones Corpo- ration which controls the Van Heusen semi-soft collar patents, for infringe- ment on the part of other coil manufacturers. As a result of the compromise reached, the defendants have finally determined just where they stand In regard to manufacture and sale of the popular semi-soft, web collars. Absorption Plan Denied. Officials of the Phillips-Jones o have emphatically denied that the merger is a- move preparatory to the absorption of its main competitors by their organization. Some jobbers and retallers profess to see in the mer ger the abandonment of the starched collar fleld by the Earl and Wilson plants and the active merchandising of ‘the luundered collar under the Cluets-Peabody trade mark. The popularity of the ¢ dered collar to match the shirt gives rise to speculations as te whether manufacture of shirts under the mer- &er will not be attended by an effort te popularize the matching semi-soft| collar. 28.—Although as witnessed | to the fored laun- R TR TR Fewer Brands Carrfed. Another factor in the situation has been the tendency of retailers in largs | citles to seek smaller quarters. This ! involved a curtailment of space which | might be given to display of more| than one brand. With the merger ft| becomes possible to make one ¢ display. which will include the popular style names of each lir allow a more comple size ment to be kept in st conomies undout can ana| be effected as a-result the rger. Heretofore both concerns have maintained branches and fac r tories in some of the. same cities Each has factories or branches in | Troy, New York City, Chicago, Bos-! tom, ‘San Francisco, Atlanta, Cleve. | s Angeles. In ad- | dition. Clustt-Peabody has branches | in Bultimore, Montreal. Cineinnati, | Denver, Detroit, Kansas Cily, Toron- to, Mifineapo Philadeiphia, Win- nipeg. Pittsburgh, St. Louis and Seattls. | Some of these branches surely will| be abandoned under the new plan of | Saving in Advertisting. | In addition to the cufting down of and offics forees, warshouse and other rentals a gr ing is expected to he efected vertising. The features of handsomae collar models will envy in the masculine breast at sav- | ad- | fower | excite and the 1 be further| intensifisd Labor <o probably will he reduced as a ‘result of the merer. | Cotfon is well below the high poin vear, although linen cos! still are high: The New cotton mill wage redu known, have been closel executives at the Troy lar factories. entralized and s | England tions, it is watched by shirt and col- | No new move, how- ductions, and the detalis of th &er have not progressed to such stage that these can be consldered. Whether the economies will be Dassed on to copsuimers fn the stape) of retafl price reductions also Is un- | certain. But at least the merger will | place Cluett & FPeabody in a position | meet competition advantageously. | EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Common Stocks for Investment. In fy jast article T pointed out the advantages of selecting good preferred rcks for investment rather than com- | mon stocks when the latter were being bid up rapldly under the influence of | good business prospects. I have nothing to take back on that scor: Probably, however. there are some of my readers who will regard such a course as too ! conservative, and who are in a pos:‘ion | to assume a larger risk for the sake of larger speculative possibilities. It may do no harm, then, to diagram some of the points to be considered when buy- ing common stocks for investment. In the first place such stocks should | represent. essaptial industries. Perhaps | ne two authorities would agree exactly | as to what is_essential. There are de- | grees among the essential, but it is not | hard to distinguish between the ex- | tremes. For instance, every oné would | admit that iron and steel or that electric | light and power was an essential iridus- | try. Motor car manufacturing did not comie within this classification 10 years | ago; but most people would now a cept tiie automobile business also as es- mential. No hard and fast rule can be | laid down. The second thing to be weighed is the position of the corporafion in its: own particular field. 1f the investment is to be at all conservative it must not be in a new organization. Far better s it to be a partner (and stock ownership | in effect, partnership) in a business | which has stood the test of time, pros- perity and depression alike, Next there should he large equities back of the par ular shares under consideration. Most people pay attention to earning power alone. This is a mistake. Both ars im- portant. Finally avold all stocks about which extravagant prophecies are made by speculators. Do not liaten to pre- dictions of sweeping price advances. They seldom materialine, or if they do the Teaction is quick and large. The speculator may be able to get out in time, but the investor is apt to be caught. (Copyright, 102 335,07007,000 BOND ISSUE. MONTREAL, January 28 —The Ca- nadiun National Railways Co. . is about to offer a bond issue’ approxi- mating $35,000,000, the Star says to- day.. The loan is likely to rum for 15 years at 5 per cent. by Consolidated Press.) 1 have FOR SALE a ited amount | of FIRST TRUST (Mortgage) : 2% = . D. C. REAL ESTATE secured notes. The amount loaned is only 57%4% of the sale price of the property.” Dom’t fail to 2l ‘yourself of this opportumity. 22 years experience in investing money on D. G real estate without any. foss to. any investor. D. B. ROLAND DRURY Bwse M. 23, Room 403—1410 X 8t W, C., WEDNESDAY, JANUARY FIRST 7 % MORTGAGES The 7% First Mortgage Gold Ronds of ‘the Rosiyn Steel & Cement Co offer “mazimum safety of principai Combined with ade el be. value of the plysical property behind ‘this joan ring t inde pendont uppraisals, s subxtant il “xcess of fwice fhe amount of Inortgage During the past five vears the pany's met earni averaged Keveral times the lnterext charkes on Uiia loan. prosiding ample protection for your incone. The company hax an unhroken dividend record of over 18 years. Call, phone or write for descriptive circular ARLL. & BATT 410 Insurance Building Phone Main 57 FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F St. JOMN POOLE, President in the FROM $50 70 $100 Can Be Obtained by Using Our Certificate of inventory, Appraisal and Ticle. CHATTEL TITLE COMPANY 805 Fifth St. N.W, LT T T T TR Continental Trust Company Capital One Million Dollars 14th & H Streets TR LT RS SE —_— “ILLINOIs. More than 700,000 people live in the business field in which the Tllinois Power and Light Corporation op- erates and 300 municipal- ities use the service the above symbol indicates. This Corporation does a gross business of about $28,000,000 and carns its total bond interest over 2.16 times. Hliinois Power and Light Corpo- ration First and Refunding Mort- gage 30-year 5'3% Bonds now available at price 97 and interest, vield 5.70%, Descriptive iy W wpoin request E.H. Rollin.?& Sons Found 416 Woodward Bldg.. Washington Boston. New York. Philadelphia WE BUY First and second trust real estate notes secured on in- come-producing real estate in Washington, D. C. Construction Loans Made at a Reasonable Rate Real Estate Mortgage & Guar- anty Corporation 26 Jackson Place N.W. Resources Over $2,000,000 L.E.BREUNINGER, President 28, 1925, - MONEY TO LOAN Apartment Houses - L.E.Breuninger & Sons Business Property Golarado Bidg Main 6140 First Mortgage Loan Applications Wanted Interest Rate 6% and Departmental Employees “Your Bank” Will loan you One Hundred Dollars to start a Four Per Cent Savings Account Write or call for further information THE DEPARTMENTAL BANK 1714 Pennsylvinia Avenue Under United States Government Supervision Applications Invited for First Trust Loans In any amount. Secured on improved property in the District or outlying sections. 4 Lowest Rates Quick Service ! Stone and Fairfax 1342 New York Ave. Main 2424 Call Main 2345 The First Thing Tomorrow Morning And Reserve That First Mortgage Note You Have Been Talking About 6Y2% Interest Mortgage Tnvestment Depi. HANNON - & LUCH 713 and 715 14th St. Main 2345 Large Loans Available SY2% Interest Insurance Co mpany Loans Long Term Financing Building Loa Refinancing ns Weaver Bros., Realtors 735 15th St. N.W. Main 1821. Equitable Co-operative Building Assn. JOHN JOY EDSON, President Organized 1579 FRANK P. REESIDE, Sec'y 45th YEAR COMPLETED Surplus. ... B17,011.44 Subscriptions for the 88th' Issue of Stock Being Received A Constructive Suggestion Save for that “home of your dreams” through in a systematic manner the Equitable — it’s the only way to obtain genuine results. FINANCIAL. FINANCING Apnmzms VZ% Business Housen Propérty FRED T. NESBIT 9392 vestment Building . Money to Loan Boauras oy arat desd of trust an reul estate Prevhiling interest.and commission - 430 Wesh. L, & Trust Joseph I. Weller ), Wei L & Trut Large Trusts May Be Re-Financed 5140 i BOSS 2w PHELPS LOAN DEPARTMENT 1417 K Street NW Main 9300 At desirably low rates and with a minimum of delay if you will consult Office Space for Rent Saul Building 925 15th St. N.W. Located conveniently downtown in the financial district—within a squarec of the all-day parking limits. Good service, mod- ern facilities, elevator service. Reason- able rents. Inspect these offices. B. F. SAUL CO. Main 2100 925 15th St. N, APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the District of Columbia and adjacent Suburbs in Montgomery County, Md. 5: % INTEREST ;fi pply ro H. L. RUST COMPANY LOAN CORRESPONDENT Bhe PRUDENTIAL INSURANCE COMPANY of AMERICA 912 15th Street N.W. Main 68838 Smith Bonds Are Owned the World Over Now held by investors in 48 States and in 30 countries and territories abroad ROM the Philippine Tslands, 12,000 miles away, F an investor orders Smith Bonds. From-Alask comes another order. From foreign banks- and banking houses come coupons which our clients have clipped and cashed abroad. Each day the mails bring evidence of the world- wide confidence in Smith Bonds. There is a logical and fundamental reason for this universal confidence. It is due to the fact that Smith Bonds have behind them our record of 52 vears of proven safety and satisfactory service in the field of First Mortgage Investments. 7% First Morigage Bonds Bonds, strongly secured by improved, inconre- producing city property, are sold in $1.000, $500 and $100 denominations, and in maturities from 2 years to 15 vears. You may invest qutright or under our Invest- ment Savings Plan, by which every payment earns the full rate of bond interest. The F. H. Smith Co. Founded 1873 FIRST MORTGAGE BONDS Smith Building 815 Fifteenth St. {rn F. X. SMITE CO. -: | Smith Bullding, Washington, D. C. I | Pleass send me oirculars describing current oferings | | of your 77 Pirst Mortgsge Bonds. Smith Address.. ..