Evening Star Newspaper, March 24, 1925, Page 23

v INANCIAL. VEAL IS CHEAPER INLOCAL MARKET ‘Apple Prices Hold Steady Here—String Bean Sales Reported Slow. An appreciable decrease in the srice of veal was the interesting fea- ure of today's market, being the one irticle of food to be had at lower ori Last week veal was quoted at but today's prices dropped to trom 17 to 20 Dealers reported the condition of he meat market as being draggy, sttributing its condition to high ces preventing consumers from taking hold It is anticipated that there will be » slight increase in prices of big fat dens, such fowls soon to be in de- mand for the approaching Hebrew noliday season. Baltimore dealers | )ready are reporting increased . it is stated, but local dealers prices here will not materially nerease. No change in the butter and esg: markets was reported, and fruit and cegetable prices remain practically un- ) changed. . Today's Wholesale Prices. store packe gs—Far average “Poultry Winte ducks geese, Winter chic Meats—Beef, 25; hogs, 201 26a28 ¥ruit and Vegetable Review., Today's daily market truits and vegetables, compiled by Market News Service Bureau of Ag cultural Economics, Apples—Supplies moderate, market Virginia dim steady: and up, sonle s . Winesaps Northwestern, fancy i Yellow New: Delictous, overripe low a 6. Fmd! 6.00 | 300 some few ripe supplies mod market fairly | hampers Cabbage—New erate: demand limit ateady Florida, 1 bushel pointed type, 1.00; mostly 1.25; South Carolina, barrel-crates pom:eo{ 4 type. 2.0022.50. Celery—Supplies mod demand | moderate, market steady; Flori [ inch erates, 4 dozen best H fair quality, 2.50a3.00. { Potato Market Steadr. moderate; de-| et fairly steady; Valley, crates| erg type, 4 dozen. 4.50a dozen, 5.35; North Carolina.| peck hampers Big Boston type mostly 1.50; South Carolina. 114 -b '(h!.“ hampers Big Boston type, 2.00a2. crates Iceberg type, 5 dozen, 3. 4.00. { Onion: Supplies ited: demand light, markot firm: New_York and Dhio, 100-pound sacks Yeilows, U. § No. 1, medium to large sizes, most 25, few lower. Potatoes —O1d stock: Supplies lib- eral; demand mode te, market | steady; New York, 100-pound sacks Round Whit . No. 1, 2.00a2.10 per sack: Michigan, 150-pound ? Russet Rurals, U. 8. No. 1, per sack. New stock: No sales re-| ported. Spinach—Supplies moderate: mand limited, market stronger; Texas bushel baskels, best, 1.25; fair condi tlon. 75a1.00. Tomatoes—Suppli mand moderate, market steady; Flor-| ida, 6s, ripes and turning, wrapped,| originals, fancy count, 5.0045.30, most- | 1y 5.00; choice count, 4.60a4.50; poor wuality and condition, wide range in| pric 1.50a4.50; repacked, fan count, §.5049.00; choice count, 8.00. Strawherry Demand Light. Strawber Supplies of nood; stock, light: ordinary stock, moderat demand moderate, market steady Florida, pony refrigerators best, fair condition, 35; poorer, wide range in| prices, 10a30 per qt. H Asparagus—Supplies moderate: de-| mand moderate, market steady: South Carolina and Georgia, dozen-bunch! crates green, very large size, 7.00a| 2.00, mostly 5.00; la size, mostly | 5.00a7.00; “medium size, 5.006.00; | small size, mostly 4.00 3 74 Cauliffower—Supplies limited; de- mand moderate, market steady; Cali- fornia, crates best, 3.00a3.23 String Beans—Supplies liberal: de- mand limited, market dull: Florida, -bu. hampers, green, 2.50a3.50, most- 3.00. eas —Supp moderate, mari fornia, 45-1b. ¢ “%-bu. hampe dition, 1.50 Peppers—Supplics mand limited, market steady; Pines, crates ney, 6.00. Eggplant—Supplies limited: demand limited, market ste Florida, pep- | per crates, la 24.00 demand pepper | Lettuce— mand moderate, California, Imp pplies mar s moderate; de- 8 noderate: demand | bout steady; ¢ 6.50; Florida r quality and con- moderate: de- isle of a, demand bu. Bas- moderate: light, market steady: Texas, kets, 2.00a2.25, mostly 2.00. Carrots—Supplies moderate; moderat ket steady; Texas, baskets, mostly 2 Supplies demand bu, “HOW TO 1T T YOUR MONEY” By Bayard Dominick, President The Better Business Bureau of New York City. The Artificial Market.—Sometimes the price of a security sertain level by traders ¢hange or by sales in the market,” merely creating a “market quotation” or public record of a price while bigh- pressure galesmen load inexperienced | Investors with these shares below the so-called market quotations. The ‘prudent investor will not part with his money even for a “bargain” until he has fully investigated the merits | of the security .behind the shares| traded in on any market. The Telephone Canvass.—Irrespon- sible vendors find it easy to work over the telephone to victimize incautious investors. They misrepresent boldly, for they can seldom be held respon- cible for telephone lying. They often obtain lists of stockholders in unsuc- ceasful companies and offer a trade that promises the shareholder an op- _ portunity to recoup his loss, but which requires that added money be put up by the investor. The cautious investor will not en- ter into securities transactions by wlephone unless he nersonally knows with whom he fs deaiing. The tele- phone Is indispensable in the tran actlon of legitimate business: it is also & convenient cloak for the swin- Cler to use. (Qwpyrizht, 1925.) an ex- unlisted for the purpose of i} NEW YORK CURB MARKET Received by Private Wire Direct to The Star Off BY WILLIAM F. HEFFERNAN. NEW YORK, March 24—For a brief period in the Curb Market trading today looked as if the downward movement had spent itsef. But spé- cial weakness developed in the oil| shares around midday and prices in some instances were carried down jsharply. This was probably a belated response to Monday's price cut an- nouncement in Pennsylvania Crude Oil and the report today that the Ohlo Co., had reduced central crude 10 cents a barrel. Standard of Indiana at 60 compared with the previous close of 61% NEW YOR! is an official 1i traded in on Market today: Narch 24—Following of bonds and stocks the New York Curb Sales in BONDS. Awmerican lce 8 Am Pow & Lt 6s.. Am P & Lt 8s new Am Sumat Tob Asso Sim Haw 6 Al G & W ISS Bety Steel 7n_’33. “an Nat Ry s Rock T'& P s 3 Detro:t Bdison 6. 5 Federal Sugar 8s. Win L BB s & Co Ths 1 Nw Orles Fub & Penn Pow & L 10 Phila’ Elec 35 60 CCS8t LB wi 4 Pub G & B Co S 2 Pure 01 C wsheen se-Skeft Sovth Cal a 39 Stand G & Elec 6148 11 French National 71nd M Lk of Finl 1 King Nether! 4 Knpp Fri L 5 . 10 Toho Elec Pow 9013 STANDARD OIL ISSUE: 5800 Anglo Am Oil 220 Ruckeye P L . 100 Chesebrough Mfg .. 10 Chesebrough Mfg 7110 5300 Humbe Ol & & 2% 40 T P L 2200 Tmp Oil of Can 6700 Intl Pet Co Ltd 110 Magno INDEPENDENT OIL STOCKS. in hundreds. i Am Maracaibo Co. 3 2 Cit Serv pfd. . Cit Serv pfd B. Columbian Synd SRR E.F.'r:—'i o Creole Synd . Derbs O & Ref. Gibson 011 Corp. Gulf Oil of Pa .Washmgton Stock Exchange. Potomac Electric Cons. Washington Rwy. & Lanston Monotype—10 National Mtge. & Invest. I AFTER CALL. al Bank—3 at 353, 10 at 353 Electric Light g. & r. 78 '41—$500 pital Tra Washington Ruy. & Elec. pfd.—5 Money—Call loans, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. American Tel. & Telga. 4= American Tel. & Teiga. 4%s. Am. Tel. & Tel. ctl. tr. Bs. Américan 'Tel, & Tel. fon .. na & Potomac Anacostia & Potomac G & P Ecryhms & P. Telephone of Capltai Traction R City & Suburban B rgetown Gas 1st Potomac Llec Pot. Elec, Fow, Alex. & & Mf. Ver. . C._Paper 8s. Jot, St ce Realty ealty bs (short) A 8138, STOCKS. PUBLIC UTILITIES, Farmers & Me Federel-American is kept at a|Li TRUST COMPANTY. American Security & Trus Continental Trus Merchants’ k ational Savings & Trust Unton Trust. Washington Loan & Trust. Seventh Tnited States. Washingtoa Mechanics American Gorcoran National Usioa.. TITLE Columbia_Title... Real Estate Title.... MISCELLANEOUS. Paper ptd. Merchantsr Transfer & Storap Mergenthater Linotype. Mtge, & Iovest. pi Security Storage. ‘Washington Marke TYeliow Cab.... THE EVENING Vacuum Oll lost ‘more than a point. Standard of Kentucky was down simi- larly; and Standard of New York and Prairie Plpe changed hands most of the time a half point under Monday's finals. It was evident by the action of Humble Oil that the highly favor- able report for 1924 had been dis- counted. Weakness In the oils gradually communicated itself to other indus- trials, and caused general unsettle- ment in the entire list. The new American Car and Foundry dropped to around 102, where it compared with the previous close of 108. Kirby Pet. Lugo Pet . 3 70 Latin Amer Qillll .07 Lance Creek =P 5 FFE Bagaus Creek Prod Tidal Osage.. United Central Veneruelan: Pet, \i.i 16 A P & Lt pewr % Am Pow & L pfd .. T Am Superpower B.. 1 Apco Mfg Co A.... 1 Art Loom wi Art Loom pfd wi . 3 Armour & Co B vic Atlas Portiund © las Cement ne Atiandc Frate. Boissannault Boiden Co . Borden Co rts wi .. Botany Con Mills & 5 Bkiyn Oity R R Car Light ... 4 Caro Pow Ceatrif Pipe Co c Common Pow Cor Consol Gas Balt m ontinental Bak A Continental Bak B 5 Continental Bak pf 3 Caba Co .. De Forest R € vic D L & W Coal. Doehl ‘Die Cast Co Dubilier O & Radio 3 Dunbill Jotl Inc.. Durant Mot ... Duplex C & Ra vt Du_ Pont Motors. . us Co A... Bond & S pid Bond & Sh n co Tovestors Inc Motor Co Csn Freed Eise Ra Co § Freshman Chas ... Gen Outdoor Ad A Goodyear Tirg Grennan_Baker Grimes Ra & Happi Candy Bt A. Hazeltive Corp. 2 Intl Cont Rubber.. 5 Intl Match Cor pfd. Inter-Ocean Rad... : Jones Radio. Kelvinator ... . Land Hold ot X Mengel Box. Middle West U 3iid West Uit pr- in mu, 3 Nickel PLonopt w Rl s No States P O pt 97ty Omaibus Cor vte . 16iy Oppenheim & Col. Power Corp of N'Y 48 Pratt & Lambert C 41 Singer Mf, ¢ Shattuck ¥ G. Sleep Rad vt tr cf.. Bo C & Inew.... Tenn Elec Thermiodsne Ra Thom Radio Cor vtc Tobacco Pro Exp .. Union Oarbide . Tnited G & = ted Pft Shar .. U S Lt & Heat Ware Radio Co: 5 War Bros Pic Wh Ro Min Sp new Wh R M 8 new vtc 3 Wickwire Sp St Co Yel Taxi Cor N Y.. MINING. ona Globe Cop... 2 A1 16 s < Eng Gold Min T4 in Eureka_Croesus. Forty-Nine Mi Goldbeld Develop Goldeld Deep M Hawtborne Mps In .10 Hecla Mine 3 Howe Sound 1 vic. 50 Independence Lead. . 200 Jib_Cops. .. 5 iay Copper Corl .08 2815 18 § Nipissing 8 Ohio Copper. 10 Parmac Por 1 Piymouth Lead 10 Red Warrior . 2 Bo Am Gold & 10 Bpearhead _Gold. 10 Rtandard Sily 4 Tonopah Bxtens . Tonopab_ Min nited East Min. . 3 United Verde Ext. 10 U § Continental .. . 1 Utah Apex . & 14 Wenden C 20 West U EIGHTEEN BILLIONS ADVANCE IN TRADE Comparisons With Figures Before War Are Based on Returns by 30 Leading Countries. By the Associated Prese. NEW YORK, March The Na- tional City Bank of New York cal- culates that world international trade in 1924 approximated $58,000,000,000, compared with $40,000,000,000 in 1913, the year preceding the World War. The figures are based on official re- turns from 30 of the principal trading countries of the world, which handle normally about 80 per cent of the total value of world commerce. The share of the United States in this great volume of trade was placed at 14 per cent last year, against 10% per cent in the year preceding the World War. CUCUMBERS CHEAPER IN NEW YORK TODAY Special Dispatch to The Star. NEW YORK, March 24.—Offerings of cucumbers today were moderat consisting of five cars from Florid: There was a general lack of confl- dence displayed in the market, and consequently trading was limited, causing a further price slump. Fancy stock wholesaled at $6to $6.50, occa- sionally $7 per 28-quart hamper; choice, $4.50 to $5, and culls, $3.50. Vs S Sk The Penmsylvanfa Railroad system m 1862 was the first to adopt electric ! ighting in passenger cars. {of {are facing a STAR, WASHINGTON, NEW DRIVE STARTS |HEAVY CUTS MADE 10 SAVE LUMBER Lumbermen Determined to Reduce Drain on Forests Throughout South. BY J. C. ROYLE. Special Dispatch to The Star. NEW ORLEANS, March 24—The South never is going to see the south- ern pine industry pass from its hand. That was the sentiment of representa- tives of the leading lumber companies of the South, gathered today at the tenth annual meeting of the Southern Pine Association here. determined on a program to reduce the drain on the forests through more careful utiliza- tion of forest products The significance of that sentiment is emphasized by the fact that a care- ful survey of the timber resources of the South shows that 000,000,000 bogrd feet of commercial sized south- ern pine still stand. Will Save Lumber. The lumbermen are determined that the supply of this great basic com- modity shall never be exhausted. The program agreed on here also gives as- surance of a trend toward lower costs lumber without jeopardizing the profits of the manufacturer and timber owners. The action was taken as a result of a determination to acknowl- edge responsibility to the public and tite Nation for the conservation of ma- terials now being wasted. John L. Kaul of Birmingham, one of the leading lumbermen of the South, made it plain, however, that respon- eibility does not re: on the lumber- men alone and that co-operation and assistance must come from the com- mercial, governmental and agricul- tural interests and the general public as well. Heavy Waste Involved. The lumbermen point out that they vroble: somewhat simi- lar to that of the packers in disposing of their product. The public demands the best part of the tree in its lumber It will not buy freely the tops an smaller portions. Porterhouse steax, Mr. Kaul pointed out, steer. Similarly, and stumps of portionately less products from the tops the trees cost pro- 15 much more | expensive than other parts of a beef | than the products | of the trunks. A part of the program is to further the use of these pleces of timber which have been wasted | heretofore. By-Products Now Saved. Utilization of forest ready had made tremendous strides in this and adjoining States. and tops are being treated in retoris for the extraction of turpentine, rosin | and other_ chemical products. The wood remdining is being ground and turned into paper. Reforestation is making rapid progress in mary sec tions. Timber land owners point out, how- ever, that no business ever was known to exist unless it could be conducted at a profit. They declare frankly that tazation of cut-over lands under process of reforestation | must be so adjusted that it will pay {them to grow trees for the §0 or 70| years required to bring them to com- mercial size. State and Federal au- thorities, they say, must assist with funds and other co-operative means in the protection of the forests. Lumber Bill Enormous. However, the lumbermen of the South are not waiting for assistance. They arp going ahead on their own initiative, meeting their share of the responsibility to. the public and the Nation, and hoping that they will be helped when that help is needed. Some $15,000,000,000 has been spent in building construction in the United States in the last three years, and probably $3,000,000,000 will be =0 spent before 1927. The step taken to- day by the Southern Pire men, there- fore, will have a real and personal effect on the pocketbook of every prospective builder in the United States. —_— PARIS BOURSE WEAK. PARIS, March 24.—Prices were weak on the Bourse today. Three per cent rentes, 46 francs 9 centimes. Ex- change on London, 91 francs 52 cen- times. Five per cent loan, 56 francs 70 centimes. The dollar was quoted at 19 francs 133% centimes. _ EXCHANIE TO CLOSE. NEW YORK, March 24.—The New York Cotton Exchange will be closed on Good Friday, April 10, and the Saturday following, giving the mem- bers a three-day recess. RATES ON BAR SILVER. EW YORK, March 24.—Bar silver, ; Mexican dollars, 61%. A Word te Speculators. If you must speculate, select 2 rep- utable broker who holds membership in a recognized stock exchange. Ex- change requirements, in themselves, are some protection, as Its members must comply with business ethics as provided by rules and regulations. 17 a member violates these rules, he hazards his membership, which is usually his greatest asset. FEDERAL - AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President Money to Loan Secured by first deed of trust on real estate Prevailiog interest and commission Joseph I Weller R Teo 3o | Office Space For Rent Saul Building 925 15th St. N.W. Located conveniently downtown in the financial district—within a square of the all-day parking limits. Good service, mod- ern facilities, elevator service. able rents. Inspect these offices. Reasonable Rent B. F. SAUL CO. Main 2100 products al- | Stumps | ol o D. TUESDAY, INBROKERS' LOANS Very High Margins Required| of Traders—Opinions Split on Market Outlook. | i By the Associated Press. NEW YORK, March 24—Wall Street brokers' loans have dropped $300,000,000 to $1,800.000,000. or about 15 per cent. since March 6, according to Wall Street estimates. Some brokers report that their loans have shrunk as much as 30 per cent. One significant feature of recent market| activity is the caution exeroised in the care of margin acoounts, most dommission houses insisting on a| minimum of 25 to 30 per cent. Opinion Sharply Divided. | Stock market observers still are sharply divided as to whether the recent reaction was just a temporary setback in a bull market or the be-| ginning of a2 major bear swing. Those who hold to the former theory believe that a split-up of such stocks as| American Can, U. 8. Cast Iron Pipe| and Ameritan Car and Foundry must be accomplished and the new stocks “distributed,” and that extra cash or stock dividends on such iesues as U. S. Steel common, Allis Chalmers and General Electric, with possible increased payments on New York Central, Unjon Pacific and Baltimore and Ohio, must be made before op- erations for the main advance are definitely abandoned. Think Advance Ended. On the other hand, the “bears” be- lieve thet the ralsing -of the redis- count rate, the heavy exports of goid and the recent break in wheat spelled the doom of the bull market. —e Prairie dogs’ tastes so nearly re- semble those of cattle that they are serious food robbers on Western graz- ing lanés. “WHEN?” buying our FIRST MORTGAGE 6%2% INVESTMENTS You are assured due precaution has beem taken to safeguard your interest. A per- sonal inspection and conservative valuation are two of our strict requirements. Prompt and courteous service follows the purchase of our seourities. Notes now on band in amounts of $100 up. C. L. O'Donnell, Mgr. Mortg. Dept. J. N. Hughes, Anst. CHAS. D. SAGER Realtor M. 36:37-38. 924 14th St. N.\W. of Metegrity, rst Mortgage 7 Realty Investments Through our positive system of appraisal as to property values as well as strict adher- ence to every - known legal protection the highest degree of safety is afforded. Consult Our Trust Dzpt. or Send for Valuable Literature First Mortgage 6% Bond Cuba Northern Kailways Company First Mortgage 6% Sinking Fund Gold Bonds, due July 1, 1966, Total fixed charges year 1924 earned 2.07 times and an average of 193 times annually during 5 years ended June 30, 1924. Price yielding about 6.55% Circular on request The National City Company Washington—741 15th St. N.W. Telephone—Main 3176 Reason- MARCH 24, 1925. WE BUY First and second trust real estate notes secured on income producing real estate in Wash- ington, D. C. Construction Loans Made Real Estate Mortgage & Guaranty Corporation 268 Jackwson Place N.W. Resources Over $2,000,000 L. B. BREUN cilents who firat trust > in to sell the rame on an 3 basia. - Thesn notes’ are made by two Washington's wealthiest and most respo sible men aud represent purchase price of some of the most active land in the city which {s rapidly advaccing in value. The notes 8re oo a most couservative b the land being worth about twice the f of the potes and the makers being wort in_the aggregate, se: millions of d; lars. The notes two years June, 1624, and are certified by the Title Company. ' Those interested in the pur. chave of these securities should write or cuil at once. Robert H. McNeill 1023 Woodward Bldg. Main 1220 “own $150,000 run trom Smith Bonds Pay 7% THE rate of interest paid on Smith Bonds--7%-- is the highest rate consist- ent with the first mortgage investment standard which The F. H. Smith Company has maintained for 52 years. That standard is perfect safety. No first mortgage investment sold by this house since it was founded in 1873 has caused any investor the loss of one cent of principal or interest. Mail the coupon today. TheF. H. Smith Co. Founded 1873 Loss to Any Investor in 52 Years Smith Building, 815 Fiftcenth St. THE F. H. SMITH COMPANY Smith Building, Washington, D. C Please send me information about Suith Boads paying 7%. Name Address . Better Be Safe Than Sorry This is a popular phrase in the automobile world. BUT where can it mean more than in the realm of investments? YOL‘ ARE ALWAYS SAFE from loss when you place your money in our FIRST MORTGAGE NOTES. They are secured by first liens upon improved Washington real estate worth double and over the full amount of the first trust. Do mot invite sorrow into your home by yiclding to temptation to invest your save tngs in doubtful securities. Call Main 2345 for Special Literature Mortgage Investment Dept. 713 and 715 14th St. N.W. FINANCIAL. ;——__-*L———————————————————————————'—_————'——'———_““‘-—‘—— : = ?mmmmmnmnnmmlmmummmug REAL ESTATE LOANS £ ] Capital 5 One Million Dollars 14th & H Streets gummumu ol o Loans Repayable Monthly Over One Year | The Morris Plan Bank | 13th and Eye Sts. | “Character and Earning Power MONEY 58th Year Oldest Savi One Man that enable you to dence—enable you Booklet B- 7217, Local Address, Main 2345 What You Should Know ° AN Total Resou 925 15th St. N.W. Central—7th and Mass. Ave. N.W. Northeast—8th and H Sts, N Continental Trust Company § KO'INVESTOR EVER:LOST-A DOLLAR M ILLER MORTGAGE Small and Large Amounts Refinancing on Long-Term Basls LOW INTEREST RATES Unlimited Funds Avallable | FRED T. NESBIT | Investment Bldg. Main ¥393 FIRST MORTGAGES FOR SALE Denominations of $250, $500, $75), $1,000 and upwards 6Y2% All Loans Made on Froperty Located in the District of Columbia JAMES F. SHEA 643 Louisiana Ave. N. TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Reondell H Hognen ¥ . 7327 %}mea&'ra/ Arenue Capital & Surplus, $2.000,000.00 Home May Be the Best Place —for many things, but it unquestionably falls far short of being a secure place for such valuables as Stock Certificates, Bonds, Deeds and similar papers { Placed in a Safe Deposit Box in our modern vault, neither fire nor burglars can menace their security. RENTALS: ARE MOD- ERATE. National Savmgs & Trust Co. ngs Depository in Washington Cor. 15th and New York Ave. ja|———ja|c———s|c———ja|———|a] Don’t Take ’s Word For It There is one big question to ask when you buy a real estate bond: What is the property worth? And another one like it: What will it earn? Because this is too serious a matter for you to pass over lightly, we made Independent Appraisals a feature of Miller First Mortgage Bonds. We have outside experts tell you what they think the prop- erty is worth and what it will earn. This is just one of the Four Distinguishing Marks buy Miller Bonds with confi- to get as much as 7% _safely, with 4% Federal Income Tax refunded. Ask for G.LMILLER & CO. mcoareemes 308 Phillips Building, Washington, D. C. BONDS FIRST District of Columbia 5 mills tax refunded Suppose I Le.ave N —The court will appoint an adminis- trator, probably not His duty will be estate, distributing it Avoid this by having your Will drawn and naming this Company Executor and Trustee of your Estate AMERICAN S]ECURHT DTRSTCMANY 15th and Penna. Ave. Capital, Surplus and Undivided Profits Over $6,000,000 BRANCHES rces Ouer Thirty- JRICIR) Die and o Will? of your choice. to apportion yeur as the law directs. IR RICT IR iR iRl e« Tl R i e )R Southwest—7th and E Sts. S.W. Northwest—1140 15th St. N.W. Five Million