Evening Star Newspaper, May 2, 1925, Page 15

FIN BUYING 1S LIVELY ATCGENTER MARKET Eggs, Strawberries, and Rhubarb Have Dropped During Week. dealers W weather this morning sp nd buyers to activity s more bris early part of the we enough (o termed a rush There were ample sup| Lkinds of foodstuffs for the t sheing substantinlly the the beginning of the week A weaker egg market ed during the weel slight drop in } ber and the short reduced Early Kk, but 5 of pork. Si wubarh were includ list of prices. green tant and near plentiful and are lers quote as re: aw d i fros are fa at pr vegetables Y growers elling onable —Fancy, tub store packed ey, sele 5a40; ducks 1 THTARE ruit and Vegetable K ay’s ma bl ervice, onemics) Asparagus- derate, Shore, ket report on fruits and rnished by Bureau of said Supplies rket sligl Maryland, small si Agricultural light; demand ze, 3.00a4.00; light: steady; South Caro- s, pointed type, mostly ry condition, 1.50 Supplies limited: demand , market steady: ¢ 1.00a1 Onions, new stoc Supplies light: 1 d moderate, market Tex: Yellow Bermudas, . mixed No. 1 and 2, 5. mostly Potato Demand Light. tatoes—Old stock, supplies light 3 market steady: New d s round w! 3 a1.85: new stock, sup- demand moderate, mar- weaker: Florida, double- Spaulding Rose, U. mostly Suppli ¢ slightly 3. juart crates, vari- quality and condition 3.5024.00, few best, v quality and condi- libera na 2.00a3.00. Tomatoes—Supplies moderate; de- ate; market steady: Flor- ripes and turning, wrapped best fancy count, 4.00a4.50; a3.50; ordinary qual- nd condition, low as 2 Other Quotations Today String beans—Supplies liberal; de- mand moderate, market steady; Flor- ida, 7-bushel hampers, green, 2.25a Georgia, 7%-bushel hampers, reen, stly 3.00; South Carolina, 1shel hampers, green, mostly 3.50. Cucumbers—Supplies liberal; de- mand light, market fairly steady: Florida, 7s-bushel hampers and square bushel crates, No. 1, mostly 4.00. Peppers—Supplies. moderate; mand moderate, market steady: ida, crates, No. 1, 4.50a6.00, around de- Flor- mostly 5.00. supplies moderate; market steady; N hampers, 0043.00, mo: s-bushel 50, mc demand Caro- Washington Slock'Exchange SALES. «—$1.000 at 99. PIA-—10 ‘at Bé %, 19 at B4 3. G at 83%. 6 at 843, Bai:, 8 at R41:, 10 at Bile s National Bank—1 at 343. AFTER CALL. 15—$1,500 at 79, 33—$100 at’ 102, at 340, 10 at $200 at 1 Riggs National Bank—1 at 340, 3 B at 540 Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid 265 [ Asked. 9634 pital Traction R. ty & Suburban sporgetown Gas R. bs. Wash.. Alex Wash . Alex Washington G Rws. & Blec Rwy. & Ele MISCELLAN PUBLIC UTIL] nal Tax) com. NATIONAL BANK lonal Bank of Wash TRUST COMPANY. savings & Trust fon Loan & Trust SAVINGS BANK. ngs. ... & Com. BK. 2 FIRE INSURANC merican S orcoran Fircmen's National Union TITLE INSURA Columbia Real Estate MISCEL Paper pfd......... ans. & Stor. Linotype & Invest arket com ket prd heton Mouotype D pid Yellow Cab ...... *Books closed. Pork | than during the not brisk o, prices at was report- | and ther x commodities sold at the Market | demand VANCIAL. Received by Private Wire BY WILLIAM F. HEFFERNAN. NEW YORK, May 2.—One of the { most noteworthy incidents at the close of the week was the favor with which [the oil shares were looked upon. It |was dificuit for many to understand their strength as a group with the weekly figures on crude ofl production showing heavy increases for the month past. The explanation, how- . lay in the fact that these have been more than offset by heavy with |arawals of crude ofl in storage, which seen going on for six months. ndard Olls of the type of Humble. acuum, Indiana and pipe line issues |eve I8 v 1 NEW YORK an il list traded inon Market today: Salesin Hoidhas lied Pk 8s Am Beet Su Co 63 Am Gas & EI 08, 5 Am Iee 7s Am Pow & I 7 Am Sumat T 7 May 2. of bonds the New Following is and stocks York Curb BONDS High 010y Low 911 97 a8% Close. e 07 089 109 P51y n .nuhn“u 55 o < 4l 6% 8138 y 613s acuum_ Ol 7s. . s vebs Mi 648 .. 081y FOREIGN BONDS. 01 o8 s B2 R R France R neh Nat 3 % Toho El Po Co 78 00% Sales STANDARD OIL ISSU in units 500 Anglo Am Oil .. 0 Buckeye P L 700 Chesebrgh Mfg.. 100 Crescent P T, 10 Cumberland P 0 Eureka P 0c 66 11 0 Gal Sig Oil g 3000 Humble Oil & R 41u W PL. 1000 Imp Ot Can new 20 Ind P_L 4430 Tater pet Co’ Lid 0 Magnolia Det 300 Ohio Oil 1100 Prai O1l & G riew 530 Prairie P L ... 0 South Penn Oil 0 Southern P L 10 Sou W Penn P'L 64008 O Indiana 1005 0 K 2008 0 Ki 80 0 Ohio_ptd 400 Vacuum O1l . ,INDEPENDENT OIL STOCKS len_Oil . Am Maracaibo € Sales 8 Colomblan Sy 54 Continental = Oil- 7 Creole Synd ... . Euclid Oil 1 Kirby Pet Lago Pet atin_Amer Oil. Panuco unt Prod 1 v Mex Land. 1 Ohio Fuel Corp 1 Pennock Oil_Cor ACTION ON LEASE Virginian Railway Deal With Nor- folk and Western Put Off at | Annual Meeting. By the Associated Press. NORFOLK, Va., May 2.—Action on the proposed lease of the Virginian Railway by the Norfolk and Western was deferred at the annual meeting here today of the stockholders of the Virginian, ALL BULBS NOT BARRED. Although the Department of Agri- culture will increase the list of for- eign bulbs barred from entry into the United States for fear of crop pests, all bulbs, contrary to widespread re- ports, will not be excluded. The most important bulb to be added to the re- stricted list is the narcissus, which has heen found to be a carrier of bulb flies and ell worms, considered a dan- gerous menace to Crop: OIL FIRM HAS DEFICIT. W YORK, May 2.—The Pan- handle Producing and Refining Co. re- ports a deficit of $605,657 for 1924 after providing for preferred divi- dends and reserve for depreciation and depletion, against a deficit of $528,- 460 in 1923, Net operating income increased to $408,239 from $299,818 the year before. B,ATES DN BAR SILVER NDON, Ma Bar silver, per ounce. Money, 3 per Short bills, 4% three-month bills, 41 71 cent. a cent; cent AGO STOCK MARKET. May 2.—Following is a v's sales, high, low and at’ the Chicago per CHI CHICAGO, creport on tod closing _quotations Stock Exchange: Sales. 100 All'Amer Radio. 150 Armour Del pf_ 100 Armour of Il pt 310 Balaban & Katz 00 Bendiz . 700 Chi'Clty &C Ren "Sn'hl C & C Ry pf ans & Co 133 Fagr Common. - 100 Hammermill P pf 1 100 Hammermill Pa 650 Hupn Motor 108 Tils Brick 200 Mid Cont .. 130 Mid U P L ptd. 170 Middle West Ut ,1,02 nlddle W Ut l 75 Montgomery o o™ Mo 500 Philipsborn ... . 500 Real Silk . 300 Reo Motor lzfl Stand Gas com 30 Stand Gas pfd 10100 Stewar. Warne 200 Swift & Co. 08 Union Car & Cab 0 United Lt & P A 5Uni L & P A pf 30 o 50 0 High. SRR DmoRe RIBDD 13eizDe Sono AOOOD 131350 ZBEIS BSBODm B SBORE FFFPRNG FEE Tni L & P B ot 3.!90“&14. U i Wri B ERER FRREIRIE SN 3 e S2RRGSEZIIANINS G23DR-BaBRORe STOCKHOLDERS DELAY | THE EVENING STAR, WASHINGTON, D. C, NEW YORK CURB MARKET Direct to The Star Office were favorites, but improvement was confined within a point. Operations for the rise continued to make themselves felt in the public utility section, a number of stocks in this category advancing sharply. This was true of Carolina Power and Light up 7 points to 347, and Southeastern Power, American Gas and Electric and National Power and Light at new high records. Cleveland Motor made a new high record, while the rubber and tire shares again responded to the im- proved outlook for the Summer. En- gineers' Gold and Kay Copper monopolized attention of traders in the mining section, both stocks ac- tively bought at top figures. | 28 Venezuelan Pet 1L Wilcox Oif & G. 6 INDUSTRIALS. 2 Adirondack Pow 4 Allied Pack new.. 13 Am Gas & 2 1Am Gas & EI 1 Am 3 2014 Am 30 Am 1Am 5 Am 13 Am 3 Armour. uperpow Al uperpow B! Bvic 15 Centrif Pipe Cor 1 Chapi ks Co 29 Chatterton & Son # Chrisler Mfg wi 24 Cleveland Auto. Comw Pow Cor Tons G_Balt new i sz 2SZE5 o pet abriel Snu eshman Chas L Garoutd AdC A 1G Oud A C vie 3 Gillette S R .. 1 Glen Alden Coal 12 Goodyear Tire § Grennan Bak 2 Happiness C St'A 1Horn & Hardart 8 Inter Contl Rub.. 4 Intern UUI B ... 1 Jones Radio ... 2 Kelvinator € 6 Landover Ho € A 10 Lehigh P o 1 Lehigh V. 17 Leh Val Coal NC 3Lib R Ch Strs Mengel Box esabi . T West Tl Midvale Co Moore Drop Fg'A Mol Pic et - TR e 9D © > PP ORI e o aaster’ Co at Pow & Lt. . 2 izer Corp A wi k Pl n pt wi rth O Pow C Pratt & Lamb C o Br.. rity Baking B Repetti Candy.... . Reo Motor. ... i Rova Rad cte il afety Car H&L % Seagrave Corp 080 C & I new.. Southeast P & L So Cal Edison.. % So_Cal Ed B pf. S'W Bell pf.. % Stregis Paper. iSwift & Cg 4 Tenn_ Elec 8 Thermiod Rad C 1 Thomp Rad vic 1 Tob Prod Expt.. United G & E 0 ted L & P A ted Pit Shar Lt & Ht pld. J Zine ipissing nlexay Cop 'Cor Tono Min ... Verde euden Cop TRY OUT NEW PLAN. Thirty New York Banks Adopt New Clearing Check System. 3W YORK, May 2—-Thirty large Wall street banks are using a new clearing system on foreign checks, known as the foreign exchange col lection, which has eliminated mes- senger service and saves time in ex- changing credits. Three times daily two representatives of each bank meet in a room in the new Federal Reserve Bank Building and exchange checks. Messengers formerly carried the checls around from bank to bank. BUTTER PRICES DECLINE. Little Weakness in Market’s Sta- tistical Position. CHICAGO, May 2,—Sharp declines occurred in the principal butter mar- kets during the week, with buyers operating cautiously and dealers mak- ing liberal concessions. Sentiment was considered responsible for the price drop, since there was little weakness in the sta- tistical position of the markets. Street stocks were light and receipts small- er than for the previous week. Con- sumption was well maintained. Closing wholesale prices and range, 92 score, at the principal markets, were: Chicago, 4% less at 40%; New York, 4 less at 42; Boston, 2% Igss at 44, and Philadelphia, 4 less at 42%. CONE BUSINESS BOOMS. NEW YORK, Co. of America, manufacturers of ice cream cones, has been taken over by the Foulds Co. of New York. Present plans call for the opening of a large plant in acuse, N. Y., in addition to increasing the output in the former cone plants located in New York and icago. largely HOTELS FREQUENT BUYERS. A survey just concluded by the Department of Agriculture shows that the large New York hotels purchase in hand-to-mouth quantities. TFifty per cent of the banana sales to hotels are in stems of a dozen or So, peaches jare bought in less than one crate and potatoes by the single bag. BOSTON STOCK MARKET. BOSTON, May 2.—Following is a list of today's highest, lowest and closing prices for the most active stocks dealt in here: High. Tish. Low. Closs, Amoskes; Arizona Bingham .. Boston & M Calu & Hecl 258 ey Pt AR Edison Elec Tsland Creek Isle Royale Libby, McNeil & Libby. Mahowsr 0 ¢ ayflower Nat Leather .. New Cornelia . New Eng T & 01d_ Dominion Pacific Mills . . Reece o] s BRSo wmmmamo it o BESo 12258 n80anSaR52 9 P toaet P R ey W# g F Py S OV R R Un Shoe Mach »‘m Warren Bros Winone .. # et tasie it P R AAE RN AMAZING PROGRESS IN GEMENT WORK Office Buildings, Houses, Roads and Bridges Built at Surprising Speed. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, May 2.—Homes, in- dustrial buildings, ~ bridges, dams, pavements and roads, in construction of which concrete is used, are being made twice as fast today as they were 10 years ago, according to cement ex- perts. Through the time and labor saving devices developed in construc- tion work in the last decade, lving conveniences and dwellings now are avallable to American families who never were able to secure them be- fore. One of the chief savings has been in time of construction, always a prime factor in costs. In the last 12 months 12 stories of a 19-story apartment house in Chicago were erected in 30 days. A concrete bridge with a 97 foot span was completed across a Marvland river in less than four weeks. A new Buffalo stove factory, 256 feet long, 56 feet wide and 2 stories high, was constructed of concrete in Road Work Speeded. It is in crete road construction, however, that new methods have shown the most pronounced advance. In 1910 it required at least a month to build a mile of paved highway. Road commissioners then let con- tracts in units of one to three miles. »day a mile of paved road can be completed in 15 days and contracts are in units of 15 to 20 miles. Improved machinery is responsible for much of this saving. Ten years ago the capacity of the ordinary con- crete-paving mixer was a two-sack batch of 12 feet of dry materfal. The mixer of today turns out double that quantity every two minutes. In some cases central mixing plants are employed from which the mixed con- crete is trucked to its final resting place from 6 to 10 miles away. Central Mixing Plants. Permanent central mixing plants, where a bullder can drive up, get his loads of concrete all ready for pour- ing and carry the material to his building_site, are found in many cities. This has been made possi- ble through utilization of motor trucks. The Sloss Shefleld Steel Corporation of Birmingham now sup- plies concrete made from its own cement and slag heaps in truck or frelght carlots for transportation within a fairly wide radius. The construction of the Wilson Dam at Muscle Shoals, the world's largest concrete job, is a tribute to modern methods and machinery. Three central mixing plants were employed, two of which used two vard-mixers and the other, two 4- vard machines. These supplied 1,261,000 yards of concrete for the dam. An undertaking of such a size could not have been attempted un- der the methods of 20 years ago. Paving Mixers Great Help. On road and street construction a paving mixer is now used which travels under its own power. This usuall, is equipped with a gasoline motor and caterpillar treads. It places concrete by means of a bot- tom-dumping bucket moving on a boom. Similar Improvements have been made in providing the sand, gravel and crushed stone for concrete. Mammoth plants produce as much as a trainload a day of carefully pre pared and graded materials. Great changes also have taken place fn the making of cement itself. The 20-foot kilns formerly used have been re- placed by gigantic steel cylinders, 250 feet long, in some instances. Im- mense crushers capable of cracking huge stone block welghing as much as 450,000 pounds are in operation. The average output of the American cement plant has risen in consequence from 400 barrels to well over 3,000 barrels a day. Output Above Demand. These improvements and saving methods will permit the placing of nearly 8,000 miles of concrete rural highways in the United States in 1925. They have made possible the buflding of the Hetch Hetchy Dam in the Sierras, back of San Francisco the 627-foot concrete wireless tower at Tokio, the highest stone work struc- ture in the world and the American Furniture Mart in Chicago, the larg- est multi-story building in the coun- try. Production_of cement now is some- what above building demands, accord- ing to B. F. Affleck, former president of the Portland Cement Association. He believes plant capacity will be 20 per cent above requirements for some vears. He added, however, that con- gestion of the market was being avolded by gradual curtailment of ex- cessive output. SHIP ARRIVALS GROW. Commerce at Baltimore Shows In- crease in April. Special Dispatch to The Star. BALTIMORE, May 2.—Arrivals at this port in April totaled 233, an in- crease of 7 over March. Twelve na- tions were represented. The United States led with 148 ar- rivals, a_drop of 2 from the March figures. Great Britain had 32 and Nor- way 22. There were 7 Italian arrivals, 6 Swedish, 5 Japanese, 4 each from Denmark and Germany, 2 from Hol- land and 1 each from’ Spain, Danzig and Greece. OFFERS PREMIUM ON OIL. NEW YORK, May 2.—Private dis- patches received in the financial dis- trict from Oklahoma said an independ- net midcontinent refiner was offering a premium of 25 cents a barrel for 38 gravity crude oil in the Osage dis- trict, the first in several weeks. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ATLANTA, May 2—Yam growers of Georgia, Mississippi and Louisiana have formed the Georgia Sweet Po- tato Exchange with sales offices in Chicago. A newspaper advertising campaign is planned. DETROIT, May 2.—Production at the Ford plant in Manchester, Eng- land, has reached the 250,000 mark. All cars there, are built of 90 per cent English materials and only British labor is employed. HOUSTON, May 2.—The East Texas tomato crop will move to market in about four weeks, with prospects for 1,000 car shipment from Smith and Cherokee Counties in June and July. | A bumper peach crop is expected in | East Texas. ST. PAUL, May 2.—Thirteen retail stores in Minneapolis, St. Paul, Juth and Superior reported an in- crease of 4 per cent in the money val- ue of their business last month, com- pared with a year ago, while 10 stores in smaller towns reported a 17 per cent Increase, ‘SATURDAY, STOCKS GO HIGHER DURING WEEK; LIBERTY BONDS AT YEAR’S TOP Gold Basis in Britain and German Election Vital Fac- tors—O0ils Start Upward— Commodities Still Lower. BY STUART P. WEST. Special Dispateh to The Star. NEW YORK, May 2.—The Ilast week will go down in financial his- tory as marking the return of Great Britain to a gold basis for the first time since it suspended special pay- ments on the declaration of war. This and the triumph of the German na- tionalists at the polls were the two big incidents. The stock market went higher, so did the bond market. An abrupt re- covery occurred in wheat and other grains in which speculation for the decline had gone to extremes. Money rates were not actually reduced, but the supply avallable at current quota- tlons was increased. Naturally there was a near relation between the evi- dence of an expanding money surplus and the strength of investment secur- ties. Liberty bonds sold again at the best of the year. United States Aids Britain. Great Britain's restoration of a free gold market has been accom- plished with the aid of American cap- ital. The Federal Reserve has guar- anteed $200,000,000 and J. P. Morgan & Co. $100,000,000 in case there were demands either from outside of Eng- land or by the note-holders inside that would be hard to meet. Much_discussion has been aroused, espectally in England itself, as to the effect of the re-establishment of the gold standard. Some economists as- sert that it will lead to the dumping on the English market of an undesirable surplus of American goods and that it will help out German and French competitors operating on a debased curren Others point out that with sterling back to parity the English buying power has been raised, and that this will mean an enlargement of the trade between Britain and other countries. At the same time they lay stress upon the fact that England will be far less inclined to get rid of its remaining American investments than it was when the dollar and securities repre- senting dollars were worth so much more in the exchange for the pound. German Election Forgotten. It was curious, in view of the ex citement over the unexpectedly heavy vote for the German representative of the old regime, how this subject dis appeared from consideration as the RETAINING OF TROLLEY SERVICE DEMANDED Laurel Citizens Oppose Bus Sub- stitutes on Line ‘Washington. Special Dispatch to The Star. BALTIMORE, May 2.—Retention of the trolley service between Laural and Washington was asked in petitions filed with the public_service commis- sioner by the Laurel Building Asso- ciation yesterday. The City and Suburban Railway of Washington, operators of the trolley line, has asked the commission for authority to abandon the trolley serv ice from Laurel to Branchville and substitute motor bus service on the Washington boulevard Residents of Branchville, Beltsville, Hyattsville and the other communities asked the commission at a recent hearing to retain the trolley line. The commission is considering the ar guments presented at the hearing. —_— DILLON ON BANK BOARD. New Alignment of Interests in ‘Wall Street Now Seen. NEW YORK, May 2.—The appoint- ment of Clarence Dillon of the bank- ing firm of Dillon, Read & Co., which financed the purchase of Dodge Bros., Inc., as a director of the Natlonal Park Bank, one of the oldest of New York's financial _institutions, has created talk In Wall Street of a possible new alignment of banking interests. The National Park Bank has specialized chiefly in commercial business. Cor- nelius_Vanderbilt, Charles Scribner and Willlam Vincent Astor are among its directors. AR EO ENGLISH RIGHTS GRANTED. NEW YORK, May 2.—The Fleisch- mann Co. announced today that a 20- vear contract had been closed with a large yeast company in Great Britain glving it the privilege to use Fleisch- mann yeast patents at a substantial annual payment. to EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Typical Industrial Stock. Having considered a typical utility stock, American Telephone and Tele- graph, and a typical raflway stock, Atchison, from an investment stand- point, it is now in order to take up an industrial. For this purpose we may examine American Locomotive. While perhaps not quite so firmly es- tablished as a leader in {ts group as the other two stocks, it is neverthe- less well up in the front rank. First, the price range is very large. For the calendar year to date the dif- ference between the extreme high and the extreme low has been around 40 points. This in itself is a signal for caution on the part of the investor. Although he may buy with no idea of speculation, he will inevitably be con- cerned if he should happen to pur- chase the shares at the high point of the cycle. There is no way of avoid- ing this risk altogether—every one who buys common stocks must as- sume it. Part of the wide spread be- tween the high and the low in 1925 was due to a change in dividend rate and part was due to general market conditions. No matter what the rea- son, however, the fluctuations must be taken into account. Now look at the return on the money. American Locomotive is at present paying a regular dividend of S per cent annually on its common stock. At 115 this would be equiva- lent to a return of 7 per cent, at 120 to 6.7 per cent and at 130 to 6.2 per cent. But the regular 8 per cent divi- dend is only a part of the present dis- bursement. There has been declared for the year an extra $10 per share, payable in four quarterly installments of $2.50 each, throughout 1925 on the same dates as the regular dividend payments. Accurately to calculate the yield then it is necessary to sub- tract from the price the amount of this extra dividend which is still to be paid, at this time $7.50. On this basis the shares would yield 7 per cent at 122% and 6.7 per cent at 127%. This is very liberal. Lastly, what is the long-range out- look? Going back over the records for the past 10 years, it is seen that profits average appreximately $10 a share on the common stock. Assum- ing that the demand for the com- pany's product keeps up, the writer sees no reason to believe that the re- sult in the next decade will be any less favorable. MAY 2, 1925. . week went on. At no time were the markets seriously perturbed over the possibility of a monarchist reaction. Had Wall Street prices not experi- enced the decline between the highs of January and the lows of the begin- ning of April, the outside trade news would not have made particularly pleasant reading. The fact is now generally admitted that output for industry as a whole ran ahead of consumption during the Winter and that a readjustment has had to occur. Commodity Prices Down. ‘This has made buyers feel more than ever reluctant to purchase be- yond immediate requirements and has brought about a general fall in prices. For 14 consecutive weeks, R. . Dun & Co.’s Review says, declines have predominated in wholesale quotations. This has involved a keen- er competition and a lower profit margin, especially in the textile in- dustries, in steel and in the non-fer rous metals. Market Shows Confidence. But the stock market foresaw all this a month ago. It has been grad- ually changing about in its main at- titude, still leaving out of its calcu- lations stocks in an unfavorable po- sition so far as the earnings outlook is concerned, but expressing its judg- ment that the speculative excesses of the Winter had been undone by the decline during March, and that the market was more entitled than it had | been at any stage since the early part of December to be looked upon with confidence. Oils Start Upward. The oil shares in the past week have reflected, although to only a moderate degree, the favor with which the market now regards situations in trade that have undergone correction and present a sounder background. Lately the oils have been pointing up- ward at the same time that the out- side news has been steadily improving. The statistical position of the indus- try has got in better shape, the sea- son of heaviest consumption is ap- proaching and the belief is that im- portant price reductions have been checked for the time being. The er companies have been making good reports for last year and for the first three months of this year. CopyriE) RAILROAD EQUIPMENT ORDERS FALL OFF By the Associated Press NEW YORK, May —Orders for equipment by the railroads in the first four months of 1925 were about half the volume of the corresponding period of last year, a compilation by Railway Age placing the total at 304 locomotives, 26,206 freight cars and 391 passenger cars, compared with 612 locomotives, 730 freight cars and 704 passenger cars a year ago. CHICAGO LIVE STOCK MARKET CHICAGO, May (United States Department of Agriculture).—Hogs— Receipts, 4,000 head; mostly steady with Friday's averages; light lights and slaughter pigs, firm; bulk, desir- able, 160 to 210 pounds weight, 11.30a 11.45; top, 11.45; bulk, 250 to 300 poun butchers, 11.25a11.40; 140 to 15 pound selection 11.00a11.2 bulk packing sow strong weight slaughter 11.00; shippers, 3,5 over, 4,000; heavy weight hogs, 11. 11.4 medium, 11. 11.45; light, 11.00 al1.45; light light, 10.50a11.40; packing hogs, smooth, 10.15a10,40; packing hogs, rough, 9.90a10.15; slaughter pigs. 10.00a11.00. Cattle—Receipts, 500 head; compared week ago; fed steers and yearling: uneven; closing, steady; fat she stoc mostly 25 higher; all grades and| chissel excepting light heifers now anproximately at high point of sea son; canners and cutters, 15 to higher; bulls, unchanged: veal calve: generally strong to 50 higher: stock ers and feeders, mostly 25 higher; tops for week: Yearling steers, 11.7 load, 12.00; medium weight, 10. heavies, 11.30; light heifers, 11.00; bulk prices follow: Fed steers and arlings, 9.25a10.50; fat cows, 5.50a 2.75; 7.5029.50; pigs, 0: estimated hold fat heifers, 7 and’ cutters, 3.15a4 8.2529.25; stockers and feeders, 6.50 50. Sheep—Receipts, 6.000 head; today receipts. mostly direc for » around 20,500 direct and 200 cars from feeding stations; compared with week ago: Fat lambs, 75 to 1.00 higher; fat sheep, 50 higher; shearing lambs, 25 higher; week's prices: De- sirable handy weight wooled lambs, 00; week’s top, 16.25; closing top, 15.75; heavier kind, 13.50a15.00: handy weight 13.00a13.50: week’s top, 13.85; extreme heav: 10.25a10.50; California_springers, 1 a17.25; wooled ewes, 8.5049.00: clippers, 7.50n8.25; clipped wethers, 9.10a9.50; shearing lambs, 13.25a14.00. DEVICE TO GRADE HAY. A machine for accurately determin- ing color in hay has been devised by the Department of Agriculture, which plans to use it to establish standards for grades. The market value of hay is influenced mainly by its color, and the judging of quality has heretofore been more or less guesswork. De- partment_experts have found it pos- sible, however, to apply the Munsell color system fo the measurement of color in all kinds of hay. DIVIDENDS. . Payable. May 15 June 1 May 1 o July 1 May 15 May 15 lass “A"... Campbell Sp pf. Hale & Kilburn pf 7% cum. Int \'\;)gmnm RR PudEIPws Bt St Saitry M1x White fo En - WANTED Second Trust Notes This company has funds available for the purchase of all kinds of second trust notes, secured on real estate in or close to D.C. £1Washington !nvestment Transactions Co. Inc. 713-15 14th St. N.W. Main 3662 FIN 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. Prompt Action | First Mortgage Loans! Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. | 738 15th Btreet First Trust Notes 3,500.00, Three (3 interest; six rooms aud bath: brick: in central location Northeast. $3,750.00. Three (3) Years, 6 intereat; ' eight rooms and bath brick: near 5th and New York Ave- nue Northwest. JOHN H. WRIGHT 1116 Vermont Avenue N.W. Main 9407 Years, 6% % =| Joseph 1. Weller ANCIAT. Money to Loan Secured by first deed of trust on real esta‘s Prevailing interest and commission 420 Wash. L. & Trust Bids. WE FINANCE —all classes of income-producing property. Large Loans a Specialty Current int. rate and commlesion. Higbie & Richardson, Inc. 816 15th St. N.W. FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JGHN POOLE, President The Prudence Company, In of New York Invites Applications for Construction Loans Long-Term Refinancing Amounts of $50,000 and over FRED T. NESBIT Loan Correspondent Investment Bldg. Main 9392 MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Reandall S Hagner ¥ G 1321 Connecticut Svenue The Satisfaction of Safety OUR investments in our First Mortgag Notes will always be a source of sat- Y isfaction ta you. You will know that the proven system of safeguards protecting them make these safe. supervision of the loan until final payment investments 100% of the notes assures payment of your interest, return of your principal. You know, bility makes them market changes that affect other forms of securities. And they bring 6 Could You Ask For More SWARTZELL.RHEEM ¢ HENSEY (0. Srreet, AN\ W (Lnshinqkm.D.C 56 Years Without I.r).r( to S too, that based on the oldest known form of security—real estate—they .do not fluctuate in value. Our constant you not only prompt but also the safe Their great sta- entirely free from An Investor I your own business. Property Management tion— Main 2100 '—the problem and details of Property Man- agement are as familiar to you as those of If—the best of your life has been devoted to If—in addition you have an organization which specializes in this particular business posted on what is going on within the renting market, knows how to find tenants, collect rent and guard your income against waste in opera- and keeps THEN as owners of rental property you are equipped to manage your own property— OTHERWISE, you need us. We have had Thirty-two years’ successful ex- perience in Property Management. We specialize in the MANAGEMENT OF APARTMENT HOUSES B. F. SAUL CO. 925 15th St. N.W.