Evening Star Newspaper, March 7, 1925, Page 15

* steady; s type, har FINANCIAL. PRICES HOLD FIRM AT CENTER MARKET Dealers Expect Cheaper Meats Soon—Nearby Vegetation Starts. There was the usual normal Satur- Qay trading this Haulers from Maryland told of how the had erarted win growing We have morning Virginia weather and w recent warm growers frosts with vegetation. and said anxiously hoping late ppear to interfere not vet heard the late fro affectinz the fruit crops,” one Virginian remarked, “and it is now late In the season that 1 think conditions will avoid the possibility of such stories beinz cir- culated.” Very few changes reported since yesterday. Meat prices continue high. dealers reported. but heaper prices are soon expected Todny's Wholesale Prices. tub, 47a50; prints, 20a22 candled, not £t in prices were Butter—Faney, 52a34; store-packed, Brgs—Fancy selected, average receipts, 26 Poultry—Alive, Winter chickens ducks, 15a22; keats, each; geese, ) Killed Winter chickens. 19a20; fowls, 25a30 ducks, 25 geese 4015 Live stock—Calves Aium. 10a11 13; live hogs, Meata=Baef, 29 fowls, 28a29; young, 60a70 Dressed-—Fresh- 35a3%: roost- turkeys, 4 pone. choice. thin, 8a9; lambs 16ali: veals 31a32; hogs, 15a17; loins. 23; shoulders, 17 Frult and Vetetable Review. Today's market report on fguits and vegetables (compiléed by the Market News Service Bureau of Agricultural Iiconomics) saye: Apples—Sugplies limited: demand moderate; warket steady: barrels, Maryland, Virginia and West Virginia, \21i-inches up Black Twigs, 6.50a7.00; A2l -inches up, 4.50a4.75; Romes, A2% -inches up, 6.00a7.00; Yorks, hes up, 5.50a7.00; mostly & A2%-inches up, movement slow, 3.504 4.00; boxes, northwestern, medium tg large sizes extra fancy Winesaps, mostly ellow Newtowns, 3.7 Dalicious 5.000 Cabbage—New stock; supplies lib- eral, demand limited; market fairly Florida, 1%-bushel hampers, pointed type, 1.15a1.40: mostly old stock, supplies very light; no sales reported. Calery—Supplies liberal; dem moderate, market steady: Florid l10-inch crates, Sanford section 3-6 dozen, 3.75a4.25; $-10 dozen, 3.00a3.50. Lettuce—Supplies moderate; de- mand moderate, marikg$ firm: Cali- fornia Imperial Valley, crates, Teeburg type. dozen, 4.25a 5, few 5.00: 5 dozen, 4.00a4.50, few 4.75, few 5.00: 5 dozen. 4.00a5.00, few bushel hampers and 2-dozen crates, Riz Boston type, 1.00a2.50, according to quality and condition; North Caro- lina, 5-peck hampers, Big Boston 0a2.75, mostly 2.7 Potato Market nd 4 Steady. light; demand market steady: New York 100-pound sacl vellows. T. S. No. 1, medium to large size 3.00a3.25, mostly 3.0 Potatoes—Supplies mand moderate, market steady: old stock, Michigan, 150-pound sacks Russet Rurals, S. No. 1. 2.25a2.40 per “sack: New York, 156-pound sacks round whites, U. 8. No. 1, 2 225 per sack; new stock, Florida, double-head barrels Spaulding Rose moderate, and Ohio, moderate; de- usual | 13.50. | ies cleaning up: de- steady; 1.00a Spinach—Supp! moderate, Texas, bushel baskets, 1.25, mostly 1.00. Tomatoes—Supplies limited; demand moderate, market steady; Florida, 6s ripes and turning, wrapped, originals sancy count, best, 5.00a6.00; cholce count, 4.00a5.00; ordinary condition wide range in prices, all sizes, 2.00a Caulifiower—Supplies mand moderate, ma fornia, crates, best, Squash Cheaper String beans—Supplies light: de- mand good, market steady: Florida, -bushel hampers, wide range quality and condition, 4.00a8.00 Squash—Supplies liberal; demand moderate, market slightly weake Florida, pepper crates, white and yel- low, mostly 5.00 market avoy, mand de- Cali- liberal: steady; Todny. moderate; demand good, market slightly strong- er: Florida, pony refrigerators, 55a60, mostly 60 per quart. Eggplant—Supplies Moderate; mand moderate, market steady ida, pepper crates, small sizes, color, mostly : Cuba, crates, large sizes, 5.00. Peppers—Supplies moderate; de- mand moderate, market fairly steady; lorida, pepper crates, best. 7.00 Cuba, pepper crates, some fair qual- ity, 5.00a7.00. Lima beans—No supplies market; no sales reported Beets—Supplies light; no ported. Cucumbers—Supplies limited, market steady; house stock lozen fancy, 5.00a5 fancy, crate. de- Flor- poor pepper on the sales re- demand Indiana, hot- crates, extra 4.5005.00 per light; demand Texas, Supplies moderate; moderate, market steady; bushel baskets, 1:75a1.85 FINANCING TO DOUBLE. NEW YORK, March 7.—New financ- ngz next week is expected in banking circles to aggregate $65,000,000, al- most double the amount this week, which will be led by an issue of about $23,000,000 Oklahoma Gas and Elec- tric Co. bonds now peing arranged by = local syndicate. Another public uti ity issue probably will be $15.000,000 7 per cent bonds of the Toho Electric Co. of Japan DIVIDENDS Pe riod Pas abie. Stock of Cop. Record. Allis Chalmers pf Am Exch Sec A Am Wholesale nt Emp Brk_ & Sup. General Cigar Do. deb pf Haserhill Gax 1.0 Humble' 0il & R Internatl Shoe Do. pf KCP& pf. ! iekee 6% pf. Do 8¢ pf..... Sount. Producers. Rate L pf. Mar. 14 cocces & Tex pt Bods.... “stock... stock stock. .. Z 1 stock Jun. 1,26 Dec. Rem Arms 1st pf 1 Mar. FOREIGN (Quotations furnished by W. Nominal gold ya ©.$4.8605 1o oe June 18 Sep. 18 16 20 EXCHANGE. 1. Hibhs & Co.) Selling checks London pound.... $4.763 Montreal, dollar : Parls, franc Rrussels, franc Berlin, mark...... Rome. lirs Zurich, frau nens, drachma Madrid, peseta Yjeana, crown. Fludapest, crown. Prague, crown Warsaw, zioty. .. Copenhs erown.... crown Srockholm,’ erow t Received by Private Wire BY WILLIAM F. HEFFERNAN NEW YORK, March 7.—The feature ©on the curb exchange in today's brief session was the sudden reversal of the downward movement In a few partic- ular radio stocks. It included Du- bilicr, Freed: Eissmann and Ware Ra- dio, all of which had been heavily offered on the previous day. Wall Street had the report that new banking interests had taken over the s YEW_YORK, March 7.—Following S an officizl list of bonds and stock- |traded in on the New Y. Curt Market today: TN foun “ales in thonsands 4 Allled Packers ne 2 Alum Ta pew i 48 A Beer Sup 60 wi Am Gax & Klee Am ice 3x. Am Pow ‘& Ti Gk Am Sumat Toh 71,k Am Rolling Mills #s Asxo Xim Hdwe #1354 ALG & W T8S e Heaverboard 8x Bell Tel Can 35 wid Beth Stee| K Can Nat R, Childs [ BONDS o Sers Ty D P& Lt 6 s Dai otie D Detroit Clty Gk 8 Detroit Edison Dunlop T & R 7s. ir, Robt ... irand Trunk 6%-. Golf Ofl_ Corp. Lehigh Power 6 Libby MeN & L 7% Mid Con Pe 838 w Mo Pacific Ry Morris & Co 11 Nat Distil Prod’ 7. 5 Nat Leather s T New Or Pub ser Be Nor States Pw 815s Nor X P Minn 6158 C Ohio Power Penn Pow & Pennock 011 Co Pub G & E Co Sizn Pure 0l Co 81,1 Southern Cal Ed 2 Stand_Gas & 3 0 New York 815s witt & Co Thyssen T & 8 78 wi 2 Union 0 of Cal 3 wi A Union Ofl Pre 20 Vacvum Oil 7s..... 20 Wabash Ry 51,s wi 3 Webster Mills 8%s. 10175 FOREIGN BONDS. 1 City of Bogota 8s.. 98 R of Friswi &7 National 58 Krupp Fried Lt Tx wi Mtz Bk of Den s 5 Nwiss Govt dlgs ANDARD OIL g ISSU, 600 Anglo Am Ofl ...... 100 Atlantic Lobos ) Buckese P L . ) Gal Sig 0il 700 Humble 01l & R 300 Imp Oil Can new wi 30 Tnd P L 1400 Intl Pet Co Lid 300 Ohio OI) ... 300 Pari 0 & G new wi 1150 Prairie P L... 240 South Penn Oil 1700 £ 0 N ¥ 40 % 0 Onio 20 8 0 Ohio pid ) Vacuum 0il Salex in INDEPENDENT O1L STOCKS. hundreds. = 3 Cit Serv 3 it Sery new wi 38 Columbian Ssnd. 45 Conti il Creole Synd bmon 01l Cor 1 Gulf Oil of Pa . 3 Kirby Pet 18 Lago Pet 1 Lone Siar 1 Mex Eagle 1 Mex Panuco 15 Mount Prod 20 Mount_Gulf New Rradford O11... New Mex Land 7 Pennok 0il Cor ..., 1% Roral Can 0 & Ref 285 Ryan Con 5 Salt Ck Cons . Salt Ck Prod Per Adirondack Power Adirondack Po lied Pack new * & F Con wi 115 3 Am G 1 Am 1 Am 1 Am 3 Am Pow 1 Am Pow & & Asso Gas & Ele Ar & Co A vie Artioom pfd wi BY STUART P. WEST. f Special Dispatch to The Star. . NEW YORK, March 7T.—Interest in the financial situation during the last week has been divided between de- velopments in the stock market and developments in the money market In the main prices on the Stock Ex- change have worked higher under the same guiding hands which have been uppermost since the first week of November. A few remarkablé ad- vances have occurred in individual stocks, principally belonging to the high-priced industrial group. These are always easy to move on account of the fact that outside holdings are small and that the big ownership is confined to capitalists, who, for in- come tax reagons or other causes, &re not disposed to sell. The talk about President Coolidge’sy inaugural message constituting the | basis for a new campaign has not | been borne out. Wall Street liked the message, but it could not see that it contributed anything new. For four months the market has been going ahead on the assumption that legis- Jatlve interference with business plans was less to be feared than at any time in many years. This is still the inspiration back of buying oper- ations. But the presidential address Qid not add to this impression. It merely confirmed what had long be- fore been appreciated. Britain Divided on Discount. The action of the Bank of England directors in advancing the discount rate from 4 to 5 per cent stirred up a good deal of controversy. British fndustry in a depressing state, with a large clement of unemployment, | was indignant that a step like this should have been taken which was bound to raise the cost of eredit. Banking circles, on the other hand, had their mind set upon re-establish- ing the gold basis, involving the re- turn of sterling to par. This meant that the English money market must raise its bid for funds so that it would become an object again for America to increase its loans abroad and resume the interrupted move- ment of gold which was such a fea- ture during December and January. The sequel is going to be interest- ing. The British banking ldea un- doubtedly is that with the pound back to parity the foreign trade posi- | tion weuld be improved, and that t {along with the return flow of gol | would have a favorable reaction upon British internal trade. So far the response in the sterling market has been slight, nefther have there heen demand, has come down. { jto this change. THE EVENING NEW YORK CURB MARKET Direct to The Star Ofice market for these stocks and this ac- counted for the sudden change in the price movement. Another feature was the unprece- dented demand at new high prices above 9 for Ryan Consolidated Oll. The heavy demand fo’ the stock was somewhat surprising to those who have followed closely the operations of the company. In some quarters, however, it was believed that it was selling out of line with other oils. 11 Atlantic Fralt 1% 1% 1% 152 8615 (3 1 Bkiyn Ci R yn City R ot 1 Bur Add M n pfd Rucyrus Co ... h 1 gar Light pfd Pipe Corp. T & Co & “Son nevw leveland Auto Pow Cor pfd Gas Bal new 4 Conti Rak A . 52 Conti Rak B Conty Rak pf 2 Contl Tob Ine .. .. 1 Cuba Co ... : 4 Onrtiss Aére Mot 17 De For R Co vtc wi 167 Dubllier € & Radio 1 Dunhill Tntl Inc 15 Durant Mot. 5 10 Duz Co A - 2 El Ro & &h pfd ... 49 El Bo & Sh new Cor il Inv Inc . i 6 Federated Metals T 5 Film Inspec Mach. 1 Ford Mot Co Can 63 Freed Eis Radio Cor 14 Freshman Chas wi. 0 Outdoor Adv A 1 Gen Outdoor Ad vie 4 Gillette © R 1teo Lt ... 14 Glen Alden rennan Rakeries mes Ra & Ca fie 2 Happ'ness Can St A 15 Hazeltine Corp 1 Inter-Oce Rudio Cor 5 Kelvinator 1 Kesatons Lehigh Pow e 17 Lib MeN & Lib new 28 Liberts Radio Ch 8t 5 Niengel Box 1T Middle West Titil 1 Moore Drop Fe A S Mot Wheel € n wi 13 Music Master Corp 31 Nat Dist Prod vte 1 Nat Pow & Lt 3 \at Pow & Lt pid 1 Nat Tea o . 1N Y Tel Co pta... 5 Nick Pl n wi 4 Nor 8t Pow 0 wix & Omnibue Cor 1 Openbeim & 1 Paige Motor 5 Power Corn N Y. 1 Portland Elec B Pryrene difg 1 Reid fee Cream. 2 Repetti Candy 2 Reo Mot Solether. 2 Swift 1 swift & 2 Tenn Elec Power. 7 Thermiodyne Radio 11 Thompson Rad vte 18 Tower g of Tnitec 1 Utilities P & Lt A 3 Universal P i Victor Tikg Mach. 4 Warner Pict A wi 1 Wayne Coal... 13 Wh' Rk Min Sp vic 3% Wick-Span _Steel wi 3 Yellow Taxi N Y.. 101 16% MINING 90 Arizona Globe Cop 28 Canario Copper 100 Diamondfield B B. . 1 Dolorex Esper 10 Eurekn Croesus 0 Goldfield Dev ... . 20 Goldfield Deep M .. 30 Gold State . 50 Harmill Div 9 Hecla Mine 7 Howe Rou new ste 20 Indep Lead 10 Jib A1 Kay Coprer Con 100 Lone 5 10 Mekin Dar éw Cornelia 2 New Jerser 7'ne 10 Nevads Hits st 17 Ohio Cop ....... 10 Parmac Por M Lid.. . 70 Plymouth Lead M.. 140 Ran Toy 20 Spearhead ‘Gold. 70 Siand Nil Lead 3 Tono Belmont 10 Tonopah Diside 10 Tonh Gyphy Queen .10 i Tonopah Min . % 4 United Verde Ext 237y 20 U R Continental... .18 17 Wenden Copper % Girls only are guests at the Hotel, Kansas City, and pay a per- centage Of their wages for their rooms instead of a stipulated rate. Girls' Stock Market and Money Rates Week’s Chief Financial Factors Prices. Forge Ahead—Britain Divided Qver Discount—W eak Radio Stocks At- tract Attention—Bonds Very Steady The French situation is a good deal more uncertain still. A week ago the Chamber of Deputies voted the 1925 budget, which showed on its face a substantial excess of anticipated revenues over expenditures. Rut this aid not avail to stop the selling of the franc, which at one time durlnk the week got down close to the 5-cent level, where it was the lowest since the early part of the last Summer. The Bank of France has funds lef over from last year's American loan sufficient to rénder support to the French paper unit. But the French Deople themselves have ceased, after many disappointments, to give cre- dence to reassuring statements from the inside. This is the whole reason why inflation persists, in spite of the budget figures. New York Rates Affected. New York money rates have been affected to a certain extent senti- mentally by the Bank of England in- crease. " Loans for longer periods, se- cured by stock and bond collateral, and loans on commercial paper have gone higher. Against this call mone reflecting the day-to-gay Wall Stree The latter incldent is. however, the less sig- nificant of the two, bécause it merely records the diminished volume of trading on the Stock Exchange. That quotations on credit for the later terms have been working higher is| indicative of the change in the ten- dency of the interest rate. Investment bonds have not during the last week been particularly alive They have varied very slightly, goth for government and for corporate issues, and the same is true for investment stocks. But it is noticeable that the outpour of new securities encouraged by the easy money conditions of a month and two months ago has been checked. Radio Stocks Remain Weak. Last week attention was called to the situation in the market for those new securities, especlally the radio stocks. The statement was ventured that such promotions had been over- done. Within the last week the de- cline in this particular class of se- curities has been very substantial and has borne out what has been said about the market of 1924-25 for radio stocks being in the same position as that in the past for new copper se- curities, for new gold securities and “taking the period 1922-23—for new industrial securities, which were at- tempting to raise more capital than as a rule their earning power justi- indications of a starting up of gold | exports from this country. A fied, (Copyright, 1925,) | the inauguration of STAR, WASHINGTON, §2.02 WHEAT DROPS | Such Fall Almost Unknown in Grain Pit—Lack of De- mand Cause. By the Associated Press. CHICAGO, March 7.—Such a head- over-heels fall as the wheat market has undergone this week is nearly unique. From 2.02 a bushel on Mon- day, no solid footing was found until prices touched 1.80, May delivery Predictions of enormous falling off in requirements of United States con- sumers had a part in this result, and to, too, did unexpeacted big shipments to Europe from the Southern Hemi- sphere. Compared with a week ago. wheat this morning ranged from 2% to 15% lower, with corn 3% to 4% off, and oats 13 to 2 down. Pro- visions showed 65 to 1.75 advance. Rise Based on Esatimates. The rise to 2.02 in the wheat market was the first and only time that prices have reached 2.00 or above since the recent tumble to 1.77%, and was largely the result of unofficial esti- mates that domestic farm stocks of wheat amounted to only 112,000,000 bushels, the smallest total in 20 years, with one exception. Excessively dry weather west and southwest of here and in India tend- ed also to hoist values. Besides, es- timates of world import needs were enlarged Tt was at this juncture that predictions of heavy curtailment f consumers’ needs in the U'nited States attructed much notice. Markets Get Tophenvy. ating =ales« on the part of soon became of unwieldly and heavy speculative stlling added to the weight on the wheat market Meanwhile, European buying of nearby deliveries of wheat in this country came nearly to a standstill at times, and then the cli- max w, met when shipments from south of the Equator broadened out, and drought reports were simulta- neously put to an end Corn and oats were upheld to a greater or less extent by estimates that farm stocks of corn are nearly the s=mallest on record and by the fact that the feeding of corn was en- hanced, owing to a big jump in hog values. Provisions ascended briskly, ing pace with the hog market WEEK SEES STOCKS HIGHEST IN HISTORY Price Averages Smash Records Just Prior to Tnauguration Day Message. Liqui holders proportions keep- NEW YORK, March 7.—Stock prices attained their highest average levels in history this week. just prior to President Cool- idge. The traditional “selling on the good news,” which took place follow- ing the Chief Executive's address, reached gigantic proportions when bear operators raided the general list, throwing thousands of shares into the market in the last hour of trad- ing Wednesday and carrying prices down 1 to 12 points from earlier high Jevels. Good buying sup- port was provided the next day, and the general list-made irregular re- covery with more than two score sues attaining their highest prices a year or more. OTHER MELONS POSSIBLE American Locomotive's Action Stirs Up Much Interest. NEW YORK, March 7.—The Ameri- can Lecomotive Company’s generous | cash distribution has turned attention | to industrial corporations which have | large treasury surpluses in relation to their outstanding stocks. Another equipment company in a favorable condition 1= Raiflway Steel Spring, which holds $11,000,000 cash and marketable securities. Many of the| motor companies have strong cash | Dositions. Nash Motors at the end of | last year had $2§,000,000; Packard, $18.000,000, and Hudson, $13,000,000, while Mack Truck had a surplus of $21,355,000. U. S WOBSTED REPOB,TS L0SS. | NEW YORK, March 7.—Net loss of $791,936 is reported by the United States Worsted Corporation for 1924 the year before. Surplus and re- serves at the end of 1924 were wiped out and net equity for 116,554 shares of common stock declined to $2.600.363 from $3,275,641 at the close of 1923, EVERYMAN’S INVESTMENTS GEORGE T. HUGHES. RISK IN FOREIGN LOANS, The importance of the new require- ment of the New York Stock Ex- change of full information regarding new foreign loans offered to Ameri- can investors was emphasized in a preceding article of this series. There is, however, another matter Which should be carefully considered by in- tending purchasers of these securi- ties and & matter upon which this Information, helpful as it is, throws no light. In general the risk on foreign loans is measured by the return at the market price, and this Is correct. It is not enough, nevertheless, to look at the subject entirely from the standpoint of the buyer. Consider it a moment from the standpoint of the borrowing government. When these foreign countries are obliged to pay |an excessively high price for their much-needed capital, it mposes upon |them a heayy burden and this burden |is not measured solely by the coupon |rate. The marketing of foreign bonds in- volves & great deal of expense in the way of syndicate commissions and underwriting fees, which does not appear in the published statements regarding the loan. .Such expenses are legitimate and necessary, but they result In substantially cutting the amount the borrower realizes and so really raise the rate which the for- eigner is forced to pay for accommo- dation. It may not be raised to the danger point, but it is worth taking into account. These enormous inter- est charges have to be met out of revenues raised by taxation of one kind or another and there is a limit to what can be produced by taxation, even though in most cases the margin appears ample. . So when you come to buy a forelgn security returning from § to 9§ per cent, or even more, turn over in your own mind the probabilities that the country on whose credit standing you are depending for the safety of your for its money than the bond yields to you. This may not be of vital significance in every case, but some- times It is. (Copyright, 1025.) 10 §1.80 IN WEEK their | the dividend possibilities of nlherl in contrast to net profit of $113,648! investment probably is paying more. D. C., SATURDAY, MARCH 7, 1925. LAKE SHIPPERS GET §62,000,000 YEARLY Hold Weeks’ Ruling on Drain- age Means That Sum in Yearly Profits. BY J. C. ROYLE. Special Dispateh to The Siar. NEW YORK, March 7.—Great Lakes commerce wlill profit $65,000.000 a Year eventually by the decision ren- dered by Secretary of War Weeks on Friday, settling the long ocontroversy between the city of Chicago on one side and the Lake States and Canada on the other. over Chicago's diversion of water from Lake Michigan for the disposal of her sewage. The decision is hafled by lake shipping interests as a great victory, although its fruits will not fully ripen for five years. Ruling of Vital Import. The Secretary's decision, reached after the case had floundered long through the courts, permits Chicago to continue turning into her drainage canal for the next five years 8,500 cubic feet of water per second, as against the 10,000 feet the city has been consuming in the past, with the resultant lowering of the lake's level by six inches. During the five Chicago must modernize its sewage disposal system in such a manner that the water diversion from 1930 to 1935 will be only 7,500 cubic feet per second. By 1935 the city must be prepared to reduce the diversion to {only 4167 cubic feet per second. The |sewage treatment place which the ecity must construct to take care of this program, it is estimated, will cost §54.000,000 - less by $11,000,000 than shippers claim to have lost through the city's heedless use of lake water Lakes to Regain O Level Meanwhile, the great lakes will b | slowly creeping up again to their old levels, facilitating the handling of water-borne commerce, which aggre- | gates annually a tonnage equal to one-fourth that transported by all the railroads of the country. The six inches that the fallen under the drain o water consumption, neers say, makes all between efficient and non-efficient water transportation. Before the di- version commenced, lake shippers had hit upon u comparatively standard- tzed type of vessel which, with max mum load of coal, grain or ore, could barely enter the lake ports of Illinois, Wisconsin, Michigan, Indlana, Minne. sota, Ohlo and Pennsylvania, as well as the 50 ports of Canada River Course Changed. As the waters receded shipping interests were put to two expedients, first lighter, and hence less economi- cal loading of vessels, and second. ex- pensive dredging operations in some of the ports in order to keep their| vessels from striking bottom. Another effect of Chicago's diver- |sion of lake water has been the | changing of the course of the Chicago River, once a docking area for much of Ihe lake commerce. Now the cur- rent has been made so swift that few boats dare to venture up its tortuous course, and those that do, shippers say, ¢an carry only 80 per cent of a {normai cargo. Canada Alxo Dissatisfied. Canada will not be entirely satis- |fied with the solution of the lakes | problem. Her grievance is that the water now diverted, if left intact rluuld flow through the Niagara and | St. Lawrence Rivers. developing 500,- | 000 horsepower of electrical power— | the equivalent of 5,000.000 tons of coal annually This lost power she values at $35,000,000 a year, and con- tends that even the compensating worke Chicago is to build at the head of the lakes to keep levels up will not give it back. years, however, kes have Chicago’s hipping engi- the difference Query the Promoter. Determine how much of his own money the promoter is putting into | his scheme before you decide to risk yours. Don't take his word for it— make him prove it. | | | | | | | COMMODITY NEW S !'| WIRED STAR FROM i ENTIRE COUNTRY PHILADELPHIA, March |new price lists of the glazed kid manufacturers will be out in April and prices seem likely to be higher. Shoe manufacturers are active buy- jers mow In anticipation of the ad- vance. 7.—The KA AS CITY, March 7.—Leaders in the Western Petroleum Refiners’ Association here are unanimous in predicting higher gasoline prices. They said today all profits from the {industry come from gasoline, as other | products sell for less than cost of wroduction. DETROIT, March 7.— troit Motor Company shipped 2,570 Paige and Jewett cars in February, against 3,233 in January. The com- pany carried 900 unfilled orders over into March and now is shipping at the rate of 4,500 a month. Retail sales reports show increases ranging from 16 to 600 per cent. ! HARRISBURG, Pa., March 7.—It is feared the peach crop of this State will be small this season owing to the damage done by the extreme cold during the Winter. WILMINGTON, Del., March 7.—The Delaware, Lackawanna and Western Railroad has just awarded the order for two all-steel track car floats to the Bethlehem Ship Building Corpora-’ The Paige De- tion here, $20,000 to Loan in %5,000 to $10,000 Amounts No Commission —Only first deeds of trust: interes Give full Insurance. Address Box 234-B, Star Office. 6% particulars. 2nd Trust Notes Will sell $10,000 equity in new, attractive 3 -family apartment house for 2nd trust notes. ! Fred T. Nesbit Investment Bldg. Main 9302, BUY Good Second Trusts on Residence and Business Property in Washington and Vicinity. Banking Trust&Mortgage Co. Trompt Action First Mortgage Loans, Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. 738 15th Street First Mortgage Notes For Sale in Any Amount Security Caretully Selected Bold Without Loss Wm. H.Saunders Co., lnc. 1433 K Street N.W. Phone Main 1016-1017 s Joseph 1410 G St. N.W. Franklin 5794, Annual Net Yield ) With Maximum Security Add to these an ever increasing value and ready marketability. And you will find extremely at- tractive our current offerings of Exclusive Washington Investment Properties Inquiry Inspection Invited C. P. BARRETT Main 9016 Money to Loan Becured Ly urst deed of tru estate | Prevailing interest and 430 Waul 1. Weller ;2 ™5 FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F 5t FROM $50 TO $100 Can Be Obtained by Using Our Cartificate of inventory, Appraisal and Title. CHATTEL TITLE COMPANY %05 Firth St. N.W. REAL ESTATE LOANS Small and Large Amounts Refinancing on Long-Term Basis LOW INTEREST RATES Unlimited Funds Available FRED T. NESBIT | Invectment Bldg. Main 9392 Fhe Symbel of Mnteprity Maximum snterest vield consistent h Maximum frotection afforded ! Attractive investments are offered of First Mort- gage Notes in amounts of $50 up. These notes yield 7% interest and may be purchased by monthly pay- ments. Consult Our Trust Dept. or send for Valuable Booklet. Goldsmith Building l‘05-7 Eye StN.W, M 9670 STATEMENT OF THE CONDITION Of tim NATIONAL CAPITAL INSURANCE COMPANY Of the District of Columbia on the 31st day of December, 102 required under the Dis- trict of Columbia Code. amended June 30, 1002, and August 18, 1811 100.000.00 ital stock, paid ASRETS. Cash in office . 5L in bunk . Real estate mortzag Stocks and bonds (market val Premiume uncollected and in b of agents Interesi due and sccrned . Total assets ... LIABILITIES, Reserve as_required by law rents. expensen. taxen, 2,500.00 100,000.00 $150,703.44 Character of business transacted during the year 1924: Fire. breakage of plate glass and mirrors and automobile theft insurance. Total liabilities . Amount of assumed during o - $8,341,436. a7 Soitalnea during 6 year g 4.748.70 1924 Money received & ... 6490568 ri9210 41/740.30 GEORGE R. REPETTI, President. | PAYNE, J corn "t before e this 28th day of February, 1925, Seal.) CLARENCE F. DONOHOE Notary Public. STATEMENT 0"11;;{“: CONDITION PHOENIX ' MUTUAL LIFE INSURANCE COMPANY OF RTFORD, CONN., on the 31st day of December, 1924, as required under the Disirict of Columbia code. amended June 30, 1902, snd August 18, 1911, ring the year Cash in _office Cash in bank. Real estate. Real _estat; Tien) Stocks and Premius _uncollocted hands of agent Interest due and All other assets... Policy loans i and -....352,547.320.T1 8. Reserve as required by law. Re-insurance premiu ries, rents, expenses, taxes, ete...o. . Commissions, hrokerage, efc. All other liabilities -8 Total liabilities 347,320.71 Character of business trassacted during the 1924, life only. Amount of ‘risk aseumed dur- ing the year 1924. - . .$53,320,431.00 Losacs sustained dufing tne ... 3,507,890.51 Maney recelved during the year 1928 o.oooo0ee o-: 20,318,278 21 Expended ‘during the year 1924.. 14,189,173.64 8. H. CORNWELL. Vice President, 368.364,468.00 | 2,736,515.52 1.340,332.71 91,721.47 H. E. JOHNSON, Secretary. Subscribed and sworn to before me this 18th day of February., Tseal) SHANAN. Notary Public. A. W. PEAKE, Manager, Dvl'rlcl ot Columbla, Xll land. Riggles. s . PNy L B FINANCIAL. WE FINANCE Apsrtment Houses Business Property Res Hotels, Ete. Higbie & R:clnrdwn, Inc. 816 15tk St Distributors for a nationally known truck, with a ton model that will dominate the field, desire several high type men with truck sales experience. We have a prop- osition that will interest you. Adéress BOX 310-B, Star Office Exceptional Opportunity One of Washington's largest real estate organiza- tions needs the services of a first-class man as Manager, Mortgage Department Must be a man of education and personality. Tx- perience in real estate mortgage work is desirable, but not absolutely necessary. A prior connection with a national bank, trust company or real estate house should have fitted the right man for this position. Replies are confidential. Box 156-B, Star Office MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST “Before you buy securities from any one, be sure thew are as good as your dollars.” BETTER BUSINESS BUREAU It Is Queer —they say, how careful a man can be AFTER he has lost his money. If you will form the habit of placing ALL your spare money with us to be invested in FIRST MORTGA NOTES, there can be no regrets or sudden awakenings the “merning after.” These Investments are absolutely hundred per cent valuation in the then too, don't overlook our guarantee vour interests at all times. Ask for literature, with no cost and no obligation MORTGAGE INVESTMENT DEPT. [SHANNON - & LUCH 713 and 715 14th St. N.W. Main 2345 safeguarded by a property itself; and, of protection of An Insured Investment F you are a purchaser of our First I Mortgage Notes on improved Wash- ington property, you are insured against financial disaster. History has proven that, in the long run, safeguarded First Mortgages are one of the steadiest and safest investments known. Our Notes are issued in large and small denominations, and the 614, interest is paid semi-annually on the day that it is due. We offer you the judgment and integrity of a company of over fifty-five years of experience. ZELL.RHEEM ¢ HENSEY CO. _,gr 20-057%Seet, NW L(ashmq!ofl,D.C 55 Years Without ]‘ox.r to An Investor SAFETY FIRST —is our aim when we invest our money in real estate FIRST MORTGAGES —just as it is buy them. vours when you Over a uarter 4 Always we make a conserva- tive appraisal and correctness of every detail incident to the loaning of our funds. of a Century Without a Loss. And you profit by the con- servatism of our policies. B. F. SAUL CO., Main 2100 925.15th St. N.W.