Evening Star Newspaper, May 9, 1925, Page 25

x f. FIN En ANCIAL, » THE EVENING STAR, WASHINGTON, D. C., SATURDAY, MAY 9, 1925. FINANCIAL. 2 EGES ALONE DROP AT CENTER NARKET Week Ends With Butter Still High—Frost Fails to Injure Crops. Dealers and consum are anx- wisly awaiting a reduction in prices ) butter. Very little c s cen experienced the past | however, and high prices still prevail. | t mtry or store packed lutter. as ) called, was quoted at 22 this but dealers sald hest quali- | ties command a higher price. | \ drop of 1 cent in the =ss this week was taken s dication of a break in the hut no break materialized. Meat and poultry prices have undsrzone but little changes but several of the < arly etables were cheaper trawberries continue fairly plenti- | ul, and prices cover a wide range. Girowers in the currounding country price of an in- | markei, report no damage having been done by the frost several days ago, and there is no prospect of a scarcity of | vegetables from their farms and gai- | dens. | | | Today’s Wholesale Prices. Butter—Fancy, tub, 52; : store packed, ggs—Fancy, selected, candled, 50: average r 28. Poultry Broilers, White Leghorns, 45a48; heavy ad4; prints, fowls, a31: medium fowl; L 40a geese, 15al8; duck: tur- a30. Dressed—Fow tur- , 25a28. es, choice, 11; me- dium, 10all; lean, 8a$. Lambs, Spring, 16a18. Live hogs, 13a13% Meats—Beef, 17a18; veal, 18; Spring lamb, 35; hogs, 20%a21; loins, 31a32; * hams, shoulders, 18a19. Fruit and Vegetable Revie: Today's market report on fruits and vegetables (complled by the Market News Service Bureau of Agricultural Economics) said: Cabbage—Supplies _moderate: de- | mand moderate, market firm; Virginia, { Norfolk section, North and South| rolina, barrel crates, pointed type, | mostly 2 5 ! Lettuce—Supplies limited; demand | moderate, market firm for good stock: North Carolina, 5-peck hamipers, big Boston type, ordinary quality and con- dition, 1.00a1.75 Onions—Supplies very light; demand moderate, market strong; Texa; standard crates, Yellow Bermudas, commercial pack, mixed, Nos. 1 and 2, 3.25a3.50. Potatoes—Supplies moderate. _Old stock, demand moderate, market firm: New York, 150-pound sacks Round Whites, U.’ 8. No. 1, 1.85a2.00. New stock: Demand good, market strong: Florida, double-head barrels Spaulding Rose, U. S. No. 1, 6.00a6.25. Strawberry Market Firm. Strawberries — Supplies _moderate: demand good, market firm; North Car- olina, 32-quart crates various vari- etles, wide range in prices, 3.50as mostly around 5.00; Virginia, section, 32 and 60 quart crat ous varfeties, 12} mostly per quart. Tomatoes—Supplies moderate; de-| mand moderate, market steady:| Florida, 6s ripes and turning, wrapped, | originals, fancy count, 5.00a5.50; choi count, 4.00a4.50; some ordinary condi- tion, fancy and choice count, 3.00a4.00. | String beans—Supplies moderate, de- 184 mand moderate, market steady Florida, 7s-bu. hampers, green, 1 2.0 wax, mostly around 1.50; South a, bu. hampers, green, 3.00a3.50. Qucumbers—Supplies liberal: de- mand limited, market s Florida, 8g. bu. crates, No. 2, 2.0003.00: 74-bu. . 1, 3.00a 3.50. Washington Stock Exchange SALES. Washington Rwy. & Elee. com 091, Washington Rws. & 10 at 83, 30 at 83 National Mtge. & Invest. pfd.—340 at 9% B0 at 91, Mergenthaler Linotspe—3 at 182 AFTER CALL. . ptd.—10 Washington Rwy. & Elec. pfd—18 at 83, 30 'at 83 2 at 8 Capi Riggs Nation: Washington G, 1 at 561 Washington Gas 65—$200 at 103, $600 at 102, $100 at 10: Capital Traction—10 at 95%. 10 at 96, 10 at 96, 10 at 96% . Washiigton Gas 55—$500 at 0915 Potomac Electric cons. 5s—S$1.000 at 995 $1.000 at 99% . UNLISTED DEPARTMENT. Banking Trust and Mtge. Co a Bid and Asked Prices. BONDS. PUBLIC UTILITY, American Tel. & Telza, 4s. Amer. Tel. & Telga. 4 i3 Am. Tel. & Tel. etl. tr. 5 ol Am. Tal & Tel. conv. 0 ! Anicostia”s Poton Anacostia Potomac Guar. b, C. & P. Telephone 5¢. C. & P. Telephone of V: Capital Traction R. R. bs.. 98 City & Suburban 5s. ... Georzetown Gas 1st ba.. X Potomac Elec. lst bs 100% Potomac Elec. Cons. 991, Potomac_Elec. s 19 _ Pot. El. Pow. &. m. & ref. 3 5 108 Wash., Alex. & Mt. Ver. Bs.. 5 Wash., Alex. & Mt. V. ctfs... Wash. Balt & Annap. 5s Washington Gas Washington Gas 6 | Wash., Rwy. & Elec. 1s Wash. Rey. & ken. 6 i MISCELLANEOUS, g Pot. Jt. Stk. Land Bank. 5s.. 1013 103 Rigks Realty bs (long) % 103% Riggs Realty bs (short) Southern Bldg. 635, Wash. Mkt. Cold $ { Centrifugal BY WILLIAM F. HEFFERNAN. NEW YORK, May 9.—Despite the fact that realizing sales made them- selves felt in the week's closing ses- sion of the Curb Exchange, the prin- cipal changes were on the side of ad- vance. Public utilities continued to | command attention but the rise was not as pronounced as it had been. Pipe was a feautre ad- vancing two points between sales to 17 The two most noteworthy incidents inl the trading of the past week have NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office been first, the spectacular advances which have taken place in numerous of the public utility stocks, and sec- ond, the Increased public participa- tion. The rise of over 70 points from the low of last week in Carolina Power has created the impression that a stock split-up is imminent. American Light and Traction above 170 compared with last week's low of 151%, while the gain in Lehigh Valley Power and Commonwealth Power has etxended to more than 19 and 12 points respectively. llowing is »f bonds and stocks the New York Curb an traded in on Market today: Sales in BONDS thousands. High. Low. Close. 2Allied Packers 8 91 ° 81 01 4 Am Beet Sugar Gs B7l 97 97 ties Service 36 Am Gas & Elec 68 987 §6% 967 14m fce 1e 1108 1104 1103 Am Bow & Li0s 0312 68 88 Am Pow & Lnew 083 08% #3% 18 Am SU Ton ‘7i e ; 5Am Roll Mills 83102% 102% 102 1 Andean Nat 6s.. 107 ° 107 4 Anice S 103% 103% 103% 3 Amo Sim 1452 g = 10 AN GUE E 6511021 1021, Atlantic Fruit 7s. A 68 k 545 &0 SW 5 % o8l 4 4 Beaverhoar s, b3 3 33 > Beth S 7y i 7 i1 n Chi R1&P 5 W10k " i v P & LOs 893 93 Bal 518 E102% 102 93" 63 91 04 92 [ Edison 0 Detroit 1 Dunlop T & R 1L Grand Trankc 035 1 117 0il" Corp_ba Hooa Runber 3 Intl Pan Co 0 } Manitohn Pow 1% Mo Pac R 63 E 1 & Ohio Pow 3 061y 4 3 Btnock "o For 6 10082 auats 10040 1Phila Elec 6s 107 ' 1 107 14 Pure Oil Co_6%5. 100% 1 100 % wWsheen 7s -.. 1001 1 1003 1 Sloss-Sheff fis 1014 1 43 Stand_ G, 638133 ' 13 1S0NY 107% 10 0613 1 1054 14 o8 otk oo 10435 10: o 104 7 104 104 08 96 96 1001 1083 1ot 1014 101% 101% wm Ol 7 Mills 6135 FOREIGN BONDS 1Cits Bogota 8s 10 City Graz 8s E<t R Fr £ 1B 103 1018 9013 7 Toho El Pow C Sales STANDARD OIL T in units, 300 Anglo Am Oil 100 At Lobos < Buckeye P L 80 Cumberland P L 145% 1 sal Sig Ol 547 al S0 pfa new 104 900 Humble Oil & R. 4% 10T P L 1 10 Imp O Can few 4000 Int Lid 44 o 100 Nat Transit 200 Ohio Oil 100 Prai O & G new 20 Prarie P L © Refin ath Penn Oil 10 Southern P L 2600 8 O Indj 160 Vacuum 0il Sales INDEPENDENT OIL in hundreds. g Lago Pet 1 Livingston Pet 1 1 1 1 Marland .... 4 “{‘ ":‘ 10 Mount_ Prod 2% 2l N 2 New Bradf O. Bl fllt H i New Mex Land u:z S 8 10Ohio Fuel ‘Corp. 313 314 5 Pennok Oll Corp 23 =3 J’ 23 Boral can 0 €K 1§ 1% 17 3 Rvan Con .. 8o ni_Centr : ¥ Vinesuclan Pet.. 4% 41 4% INDUSTRIALS. 60 Adirnd Pow .. 75 1% 72 i, Adiron Pow pfd101 =101 = 101 $Am Gas & El... 81% 814 8l% 1Am Hawaijan 8§ 9% 0% 8% 334 Am L & Trac.. 174% 106 160 Am L & Trac pf 08 o8 o8 BAm Nulugr Con 0% 103 19k 33 Am Pow & L nw 03 ~ 62% 62 0 Amn_Ray Prowi 284 271 28% Am Superpow A 34 = 34 ' 34 18 Am Superpow B 33 343 34 1 Ariz Pow & L. 21 21 21 2Arm & C B vte. 11 11 11 1, Armour & Dnzn(d 84 84 84 4 Asso Gas & Elec 20 28y 28% 26 As Dry Gds n wi BO 50 80 1 Atl Fruit . B0 80 H0 13 Borden Co 149 148% 148% 13 Bord & C rt i = 2 2 1 Hotany Cons M A 461 46 46 284 281 28 1 BavAm Tob Cou 284 2Kis 284 1 Bkiyn City R K. . 7 Buff Gen EI Cnw 62 60% 02 ©Car Light ... 8% B 5 1, Carolina P &'L.1 412 407 408 33 Celluloid C'ptd.. 81 80 81 14 Centrit Pip Cor | 17 16 15 8 Chapin Sac & C. 241 24 24X 5 Chatterton & Son 228 23 224 13Cleve Auto ... 34% 241 244 03 Commonwith B¢ 1202 128K 130% Common P C ptd 8243 &2 2 % Common P C wis 41fc 40 40 30 Cons G Bal new 38% 3814 38% ontl Bak A.... 1108 118 * 110 38 Condl Bak B.. 280 20 26% DDoaewn 39w aw TORNE Sl %0 le% 18 19 $heFor BT vl 2z 22y 22 1 Dochler Die CC. 134 13% 134 7 Dubilier C & R.. 15 145 14 40 Durant Mot ... 18% 18% 18 2 Duplex C&R’ vt 4° 4 4 TDurCo A ... 23% 23% 2u 49 4 49 aay 2% a2 20% 191 0% g W28 8% G Gabriel Snub A. 264 281 203 4Gen Owd'AdC A 48 ' 430 40 Gillewte SR " 08% 083 684 41 Goodyear Tire..! 31% 308 31 Bermngiic g f38 158 12w 2 Grimes 5 Hazeltine Corp... 18 173 174 3 Int Contl Rubber 8 85 8h BInt Concr Ind." 10% 108 10% 2 Int Match b a2 a2k 4 Inter-Ocean R € 4% o 4h Int Utilities B.. 10 28 8% Landover Hig A~ 20% 204 20 7 Lenigh "Pow” sec. 11015 11833 1184 4Lib Rad Ch Strs 8% ~ 8% 8 T3 Mengel Box. 403 awin 484 135 Mid Weat n 0T hes T i Mid W Ut pli 104% 10410 104% 3 Moore Drp Fr A 68% 68 68% 8% NatPow & Lt 204 200 208, 2 BAL R Re 83 13 10% 11 TNor Sta P C wis 17% 17% 17% Pathe Ex Inc A 46 45t 43 80Pow Corp N Y. 50T 48° 49 S Purity Bak B... 301 38% d3% % Rem Noisel T pt 1005 1100% 1093 Sieberlin 241 2 BSery El Corp’A. 105 10% 104 Southeast P & L 733 72 734 Regis Paper... 43 Ty d2n enn Elec Power % bi 15 Tower Mfg..... 3% 08% 1000 P & LEA 55 RU'S Lt & Ht pfd i £+4 3 Vietor Talk Mch 77 14 Warner Bros P A 16 3 Warren Bros ... i1y 113k Rk M Sp iw 5 M Spvic A 7 7 Wickw Sp Stl C. 41 4% 10 Wilson&C A n wi a2ty 20 Ariz_Globe Cop. 2 Canario Copper 3 Chino, Ext. Mines 7 Eng Gold M Lt 1 2 Mine. 10 Harmill 10 Hawthorne M 1. 80 Kay Copper Corp Spearhiead Tono Belmont Tono Extens. Tono Mining 3 Wenden Copp DEARTH OF CRABS IN'LOCAL MARKET Almost No Receipts—Pricés Very High—Lobster Now in Keen Competition. An unusual scarcity of crabs in the local market is reported. Hard crabs have not vet put in appearance, deal- ers state. Soft crabs are by no means plentiful, only a few shipments of crab meat have been received the past few days. “One year ago today id a dealer this morning, “I received a ship- ment of 11 barrels of hard crabs. To- day I received none, and I received a report that only. three crabs were caught by dredgers in a day's work near the Capes earlier in the week.” Crabs’ Extinction Feared. There should be a glut of soft crabs in the section during the full moon ason this month, the dealer stated, but present indications are that this season will prove a dismal failure. and Wardman Park Hotel Gs.. ... 101 | The w3ty of ‘craba isaiattne STOCKS. | dealer, “again demonstrates the neces- e et 4 for protecting the crabs during Capital Traction Washington_Gas. Norfolk & Wash. Wash. Rw Wash. Rw Capital Commercial District A Farmers & Mechanics”. . Federal-American Liberty Lincoln Rt National Meiropolitan Riggs Second Nat. Ban TRUST COMPANY, American Security & Trust 330 | Continental Trust.......... 90 Merchants' Bank. S National Sav. & Trust Union Trust... ... : Wash, Loan & Trust..."..... 100 SAVINGS BANK. Commerce & Savings East Washington.. e Security Savings & Com . Seventh Street. United States.. ... Washington Mechani FIRE I American Coreoran Firemen's . National Union S TITLE INSURANC] Columbia Title... . . 7% 815 Real Estate Title 150 MISCELLANEO | Paper pfd. A Merchants' Trans. & Storage. 11 Mergenthaler Linotype L 182 Natl, Mtge. & Invest. pfd 014 Dutch Market com 0l Dutch Market pfd.. Lanston Monotspef Security ‘Storuge. Washington Ma: Yellow Cab....... Books ciosed. D.C { | LIVE POULTRY LOWER. CHICAGO, May 9.—Poultry, lower: fowls roosters, 13 keys, 20; dueks, 24a25; geese, 15, live, tur- | the Winter season, and unless the dredging is stopped the time will come when there will be practically no crabs on the market.” Lobster May Take Place. Soft crabs, only fairly good size, are being received from North Carolina, and are selling at from $2 to $3.50 a dozem. Dealers had small shipments of crab meat from New Orleans the past weelk. Lobster Bay promises to crab meat, according to local dealers, being an improvement upon the so- called lobster tail from the South, but much more expensive. Wholesale price of the meat toda tail price being § GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) Ger Gt (win) 5s 1914-18 1300.00 Hamburz 4s 1919 Ger Gt 4-5x (forced (Quoted in dollars per thousand meat from St. Lawrence Ger Gen Elee 4158 pre-w 20.00 Ger Gen Elec 4168 1919 225 Berlin 48 pre-war : 950 n ba & 45 b amburk Amer Line 3 5 a North German Llovd 4138 North German Lioyd Prussian Consols 37 Krupn 5s 1031 Ducteldort 45 pre-war. © . Fanifort a-M s pre-war Munich 4s pre-w ; Badische Anitin A"EG (Ger Go Commerz and Pri Disconto Gellschat Dresdner _Bank Deutsche Bank. Darmetaedter Bank. . Mercur Bank Vienwa. . g Query the Prometer. Determine how mucn of his own money the promoter is putting in his scheme before you decide to risk yours. Don't take his word for it— make him prove ity SRt sime S 19 b 1 2 30.00 175 take the place of | was $1.60, the re- - jincrease in the price of spirits of | Possibility of RUSSIA PLANTS MORE WHEAT THAN YEAR AGO First reports on Russian crop prospects for this year yeceived from Moscow by the Russian Information Bureau here show a sown area of 212,167,000 acres, 80.1 per cent of the 1913 acreage and 4 per cent above last year. Four thousand tractors, mostly - of American marufacture, were used in the ploughing this Spring. Early Spring weather was reported favorable. BUTTER PRICES STEADY. Heavy Supplies Keeps Market Down. CHICAGO. May 9.—A sensitive and nervous condition prevailed in the but- ter markets during the week. Buyers were cautious and sellers held the sentiment, that lower prices would result in a more favorabe condition through freer movement. Available information pointed to a heavy Spring production, but one that would possibly not reach the peak of last vear. Weather and feed condi- tions” were reported as ideal. Possi- bility of heavy supplies in the near future was considered partly re- sponsible for the market situation. Because medium and lower scoring Iots were not plentiful and in active demand, a fairly close price range was maintained among the various grades. Closing wholesale prices and range, 92 score, follows: Chicago, one-half lower at 40; New York, runchanged at 42; Boston, one- half lower at 43; Philadelphia, one- half highre at 43. e TURPENTINE REACHES $1. Price Highest Since War, as Heavy Demand ‘Develops. JACKSONVILLE, Fla., May 9.— Spurred by brisk domestic and ex- port demand, spirits of turpentine yesterday sold on the Jacksonville and Savannah naval stores markets at $1 a gallon for the first time that vrice has been reached . since the ‘World War. Operators here attributed the rapid turpentine to an unusually heavy Spring demand in the North and West and to heavy export shipments. WILL BUILD PIPE LINE, NEW YORK, May 9.—The National Tube Company has been awarded a contract by the Houston Ofl Company for a new 200-mile pipe line which will be completed before the end of the year. e BOSTON STOCK MARKET. BOSTON, May 9.—Following is a list of today's highest, lowest and closing prices for the most active stocks dealt in here: Amoskeag Bi ingham . Boston & Maine Carson Hill Min GOFFEE YIELD KEP Dealers Here Claim Facts Are Withheld to Bolster Up Present Prices. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, May 9.—Consumers of coffee, and they represent a large part of the population of this country, are getting so they pay little, If any, at- tentfon to what they hear of the coffee market and very little to what they see with their own eyes. Sentiment among wholesalers, re- tailers and speculators is badly mixed 80 far as the coffee situation is con- cerned. Some traders say that hedges have been put out against all kinds of coffee, and that the future market is oversold, when the amount of coffee available for tender against futures is considered. They add that roasters’ stocks are small, and contend the lat- ter must enter the market again soon. Demand, especially from the Middle West, they say, is improving. New Crop Really Ready. ‘The new crop will begin to move in July, and those traders who take the opposite view maintain that the Bra- zillan output will be of at least fair size. They even talk of 10,000,000 bags of Santos alone, and Santos is the province which furnishes the larger Part of the coffee consumed in Amer- ca. The bulls say Brazil has been sup- porting her market and will only sell at prices acceptable to growers there. Any sign of improvement such as might be caused by competitive bid- ding between jobbers and roadsters, they maintain, would be followed by a rise in prices. This in turn would certainly cause a rush of shorts to cover. The bears allege, on the other hand, that the Brazilian growers are exer- cising a strict censorship on news as to the size of the coming crop and allowing nothing to get out that will substantiate rumors that production will be large. Prices have eased off decidedly this week. Heretofore whenever the mar- ket has threatened to become really weak, “European” support has usually made its appéarance. Buying Only in Small Lots. in opinion, the roasters, jobbers and retailers, down to the corner neigh- borhood grocery, are buying from hand-to-mouth, or, rather, from sack to cup. Everybody is waiting to see which way the price cat will jump, and buying no more in the meantime than actual requirements make nec- essary. Also as a result of the uncertainty which has been engendered roasters and dealers are making increased use of the other South and Central Ameri- can coffees. These have not the hold on the public taste which has been gained by the Santos products, but they are rapidly growing in popu- larity. Mexican Yield Grows. yield from the state of Vera Cruz is making rapid strides in world markets. Guatemala, having recovered from a wild period of coffee speculation, is devoting every energ toward increasing production. Colom- bia and Costa Rica have found a steady market for their crops, and Jamaica, after a period of years when the trees were badly damaged by hur- ricanes, is rapidly reaching a point tor in_the trade Great Britain. CEMENT EARNINGS UP. First Quarter Report Explains Re- with Canada and cent Heavy Buying. Special Dispatch to The Star. NEW YORK, May 8.—The recent in International Cement com. mon had been in anticipation of the first quarters’ report, which came out today. It showed « balance after charges and preferred dividend re. quirements of $1.64 a share on 40,000 shares of no par common, as against $2.36 in the last quarter of 1924, and $1.14 a share on 364,167 shares of com- mon outstanding in the first three months a vear ago. The actual in crease in earnings as compared with the first quarter of 1924 was 60 per cent. ! | COMMODITY NEWS i WIRED STAR FROM | ENTIRE COUNTRY { ATLANTA, 9.—Tobacco and | cotton erops of fering severely from drought. May the Southeast are suf- Cotton in the Central belt is less than 50 per cent above ground, and replanting will I be necessary unless rain falls in the next week. MANCHESTER, May 9.—The J. F. McElwain Shoe Co., makers of a medium-priced shoe for chain-store merchandising, has raised its working week at Manchester and Nashua from 48 to 54 hours, and is turning out 8,000 pairs of shoes daily. SAN FRANCISCO, May 9.—Whole- sale flour prices here have experienced anothér 20 cents a barrel advance. This is the second jump of that amount in price since May 1. ’ DETROIT, May 9.—The forge de- partment of the Ford plant now has a daily output of 8,000 crankshafts, 7,000 axles, 45,000 connecting rods and other small forgings. BIDDEFORD, Me., May 9.—The Pepperell mills here are experiment. ing with a process for introducing silk into cotton fiber to make a new type of cloth to compete with rayon. ELCENTRO, Calif., May 9.—The first cars of cantaloupes have been shipped East from the Imperial Val- ley, and the Southern Pacific road is preparing to move 16,000 carloads this season. |n———/oj———10] 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. Prompt Service EIWasllhgtoflnvestmentm Transactions Co. Ine. 713-15 14th St. N.W. Main 3662 o] 0] As a result of this wide divergence where her coffee production is a fac- | MARKETS MOVE BUYING OF SEBR[T |N BRAZ“_ Utility Shares Feature of Week in Wall Street. Commodity Prices Issues Stronger. BY STUART P. WEST. Special Dispateh to The Star. NEW YORK, May 9.—Wall Street operations during the last week have had two things chiefly in mind. The first is that the market considerably over.discounted in the early Winter such Improvement in outside business as had occurred since election day. Consequently the disposition to avoid ‘a repetition of this mistake which had to be corrected by an ex- tensive and rather severe decline on the Stock Exchange in the latter half of February and through March. The second point is that trade con- ditions on the whole are better than they were a fortnight ago, vet are far from assuming an aspect which would encourage any big speculative revival. Market Moves Cautiously. The result is that the stock market has been proceeding cautiously. At times it has appeared to be develop- Ing more interest, accompanied by increasing business. Still a compari- son between the prices at the end of the past week and at the end of the week before shows in a large part of the list no important change. There has beem active buying, but it has been of a selective sort, con verging upon public utility securities, motors, and a few of the rails. E! where the market has not moved 3 It is walting to see how the situation will unfold in lines of industry which are at present uncertain. Commodity Prices Lower. R. G. Dun & Co. Review, speaking of the fifteenth consecutive week of declining wholesale quotations, says that the “continued downward trend of prices reflects the increased com- petition for orders, production hav- ing run beyond consumption.” On the other hand, it refers to an ad justment of output being under way which “may before long have a steadying effect upon the markets This is precisely the sort of condi tion which the Wall Street d have been picturing. The interpr tion of this is that confidence in the industrial outlook has returned, but that no grounds are seen for enthu- siasm. The reason for the recent recov- EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. French Bonds Again. The attention attracted by recent events in France is sufficient excuse for taking up again the problem of French bonds. Inquiries keep pour ling in from holders of Irench se- | curities who are anxious to know what to do. They have witnessed wi concern the large fluctuations in mar- ket price of their holdings. They want | to know whether further depreciation |is probable, and, if so, whether they I should dispose of their bonds ard: less of the original cost. This is a difficult problem, unequivocal answer can be these questions. There are, some considerations which helpful. nd no given to however, entimental nch dollar Theoretically of the franc are of only rtance s far as F 5 are concerned. the franc could go the way of I'mark without affecting the French dollar securities. Only fall in the franc reflects a decr 1se in the ability of France to meet the changes on her external debts might such @ fall be of signiticance to in | vestors in French dollar borgis Now the external obligations of the French republic, the interallied gov | ernment war debts excluded, are | very small proportion of the nation's total debt. It was not the sums that its own borders that brought about the recent French financial strain, but rather the piling up of lo obtained from the French to be covered in the case of any for {eign security. One i$ the ability and !the othér Is the willingriess debtor government to keep its creditors. No matter what readjustr { eventually be found as to the | internal debt there is no qu | about her obligations. There r mains, then. question of willing: |it may only be said that any particular—principa | sinking fund—on_French default in which is now the chief credit reservoir (Copyright, 1925.) RATES ON BAR SILVER. LONDON, May 9.—Bar silver 313 per_ounce. Money 3% per cent. We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of interest. Should you have Money to Invest —we can also take care of you. Our experience, ex- tending over a period of Thirty-Five Years —insurci.{our protection. . Percy H. Russell Co. 926 15th St. NW. MONEY ON FIRST = | many v prove | In the first place the ups and downs | the | France borrowed from sources outside n upon loan | People themselveg. There are only two points the | : aith \nm‘ cated business property. hility to meet her external | the and as to that | I, interest or | dollar bonds | { would ruin French chances of further | accommodation in the United States, | of the whole world. No sane French | government . would take any such | course. CURRENT RATES OF INTEREST ot A Hogran ¥ WITH CARE; | SELECTIVE SORT Lower—Investment ¢ in farm prices is revealed in the Government report on Winter wheat as of the first of May.. The indica- tions are for a crop of 444,833,600 bushels, which, by recent standards, is very small. ‘The comparison is made with an estimated total of 474, 255,000 bushels a_month ago, 533,013, ear ago and a 10-year average Sugar Market Down Too. At 2% cents a pound raw sugar is below the average of prewar years. The 2-cent level was broken during the slump of 1921 and during the ex- ceptional overproduction in 1913 and 1914. Previous to then no such low prices have been seen since the period between 1901 and 1904. Dividend prospects on sugar stocks have manifestly dwindled. From the Bureau of Mines’ figures it is calculated that domestic con- sumption of gasoline increased during March 32 per cent, as compared with 1924, while exports surpassed all for- mer totals This strengthens the statement that | the ofl position is on the mend de- spite the recent price cutting. These price cuts, occurring in New York and parts of New England, have seem- | ingly been merely in the nature of local adjustments. Utilities Being Revalued. The remarkable advance in the pub- lic utility group has been an indica- tion that the utility securities here- [tofore had not been properly valued. | The public had not appreciated the importance of the repeated court de- |cisions upholding the right of these |companies to earn a fair return on capital invested. It had not fully rec- ognized the tendency toward steady |expansion of earnings because of the |growth in the population of the com- | munities served, and because of the |absence of competition. | Finally, there is the added feature of the tendency in the public utility field, the same mong the rail- roads toward a consolidation into fewer and larger unit Investment Issues Stronger. The strength of the investment sec- |tion, both bon and stocks, where new high prices have been |made, has been an important incident |of the week. It has given a better background to the stoc n ket than |that which it had in January when |speculation was supreme and invest- | ment interest’ was waning. Sterling exchange has settled down within a |cent and a half of the parity. For all | practical ~ purposes, it back to | normal. | (Cop: ht, 19 | Secured by first deed of trust on real estate | Prevailing inte «t and commission | Joseph 1. Weller Frompt Action ¥ ;F irst Mortgage Loans‘i Lowest Rates of Interest and Commission 420 Wash. L. & Trast | Blds.. 9th & F N.W. | Thomas J. Fisher & Company, Inc.| | 38 15th Strest FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 | 1315 F Street | JOHN POOLE, President FOR SALE | 641% First Mortgage ||| Notes | Secured on centrally lo- FIRST MORTGAGES FOR SALE Denominations of $230, $500, $75), $1.000 and upwards 6Y2% All Loans Made on Property Loented in the District of Funds Availa | Money to Loan % 4 YOU ARE LOOKING —for an investment which is ABSOLUTELY SAFE and which will produce immediate returns, then come in and purchase one or more of our FIRST MORTGAGE NOTES —secured by first liens on improved Real Estate right here in the Nation's Capital. They will net you per annum fbs 6Y5' —payable semi-annually on the date duc details. Notes, $100 up. Let us explain the Consult Our Investment Dept. Main 2345 The Prudence Company, Inc. of New York Invites Applications for Construction Loans Long-Term Refinancing Amounts of $50,000 and over FRED T. NESBIT Loan Correspondent Main 9392 Investment Bldg. Careful Appraisal —of every piece of residential property accepted as security for our First Mort- gage Notes is made by men who have studied and dealt in Washington real estate values for two-score years or more. This is one of many protective features thrown around these Notes. Convenient Amounts Current Interest Rates BOSS mb PHELPS HOME OF HOMES 7 K Street NW Main 9300%&/ : o4 D Our Conservative Policy HE conservative reputation of Swartzell, Rheem & Hensey Company prevails to- day just as it did fifty-six years ago. Conservatism in appraising property values; in assuring adequate income to pay principal and interest; and finally in assur- ing our investors a wide margin of security —these are some of the reasons for the growth of this company. For only as our clients have profited through the purchase of' our First Mort- gages, increasing year by year in numbers and in volume, have we been able to make such steady progress. 6'2% SWARTZELL. RHEEM & HENSEY (0. R ;/5&&1;-@ T shir}gion.D.C. 56 Years Without Loss to An Investor For the placing of First Mortgages In any amount ‘We can make your building loans immediately Submit plans and specifications Current rates of interest and nominal brokerage CHAS. D. SAGER 924 14th St. N.W. Main 36 TO LOAN MORTGAGES AT THERE IS PROFIT ONLY WHERE THERE IS SAFETY - To be continuously profitable investments must be ' safe. Losses from risky investing al ways offset high interest rates in the long run. For 32 yea specialized in giving the public safe real estate FIRST MORTGAGES paying the highest possible rate of interest consistent with perfect safety F. SAUL CO. 925 15th St. N.W. Quarter of a Century Without a Loss this company has