Evening Star Newspaper, May 16, 1925, Page 27

FINANCIAL. FLORIDA PEACHES IN'LOGAL MARKET Shlpments flmckly Sold. Week Sees Decreases in Price of Poultry. First shipments of pe: son were recelved this mornin fruoit came from Florida pa whalf-peck pans. and found r at $L.75 a pan, Advices fre hes this ses- The rked in ady sale 7 the Sonth tell of prospective peach crop somewhat amaller than that of last vear ers are hoping that what is lackine quantity will he made up in qu:lits Substantial decreases in the | of poultry featured the week’'s market. Decreased prices, it is stated, im proved business. Today's Wholesale Prices. Butter—Fancy, tub, e packed, Sggs—Fancy, selected, 2812a29: average recel Poultry, aliveB Teghorns, 3543% 8$1: medium fowls, 2 15a18: dud Dressed ducks, z stock N toe 10a11 b Live hogs Beef hozs 29: shoulders in prints. candled, ‘white 30a 40075 turkeys turkeys. 15 fowls, V20 Fowls, 32 32 Live dium 16418 Meiis lam hams 110 me Spring 182 Sprin 19220 and Vegetable Review. rton fruits hy the of Agricultu Today's r vegetables and siled cau Economics) said Cabbage—Supplies light: demand moderate, market firm: Virginia. Nor- yTolk section, harrel erates pointed type. mostl Lettuce—Supplies light: demand good for good stack, market about steady: North Carolina, five-peck hampers Biz Boston type, ordinary to fair quality and condition. wide ranze in_ prices. 1.00a2 mostly * around 1.50: California. central district, erat Trehers type, four to five dozen. 3.30a 4.00. few hest hizh as 4.50 Onions—Supplies lizht: demand moderate, market firm: Texas, stand- ard crates yellow Bermudas, commer- cial pack, mixed No. I and No. 2, Potato M Potatoes—Supplies moderate. market firm: old stock New York 150-1h. sack: r whites, 1. & No. 1, £3.50 ew stoc Florida. double-head barrels, pauld- ing rose, U. N. M 3. 8§ . 8. No. 2, $4. Strawberries—Supplies moderate demand moderate, market steady «North Carolina. 32-quart crates, vari- ous varieties. wide range in prices. hest fair quality and condition, 4.00a 5.00, mostly 4 & dinary quality and condition some poor con- dition, lower inia, Norfolk sec- tio n| 60 quart crates, va hest, mostly 18: to ordinary quality 10a15 per quart upplies moderate moderate. market vipes and- turning ancy connt 3.75a4.00: faiy et Firm. light: demand “fa ana condition Tomaloes. mand Florida, de- steady: : choice. count and condition. fancy count, 8.6024.00; choice count. 2.50a3.00. String Beans Higher. String beans—Supplies moderate: demand good: market slightly strona- er: Florida, 7s-bushel hampers, zreen. 2.0022.50, mostly 2.00: South Carolina. buskel hampe green, 3.00a3.50, hizher. Peppers—Supplies slow: market slightly crates, No. 2.00. Peas—Supplies moderate: demand good for zood stock: market firm: Vir- *ginia, Norfolk section, 5.peck hamp- ers, small-pod varieties, 2.5023.00: large-pod varieties, 3.25a4.00, mostly 3.75a4.00. limited: demand weaker: Florida, 2.5023.00; No. 1.502 IMPROVEMENT NOTED IN WOOL MARKET BOSTON, May 16 (#).—The Com. mercial Bulletin today said: “The improvement in the wool m ket, which became noticeable week, has been continued this @nd the market at the moment is more optimistic than for some time. al though there are those who are in clined to rezard the improvement as temporary. Conditions in the piece zoods markets appear o he hetter. and this doubtless acconnts for herter huving in weal even in worsted de scriptions, of which some eable kales have heen vn,...nuu WESTERN MARYLAND S EARNINGS FALL OFF Rpecial Dispatch 1o The Star. BALTIMORE, May 16-—Western Maryland Railway Co. did not fare 0 well during the week ended May T as it did during the preceding one, according to estimated earnings. The total for the week showed a decrease of £7,238.25, or 2 per cent, as compared with the $353.561.04 in the correspond inz week of 1924. declined 28 per cent. 3-CENT GASOLINE TAX NOW UP TO GOVERNOR | Dispateh to The Star. NTO. Calif., May 16.— I'he construction of roads in this State in the next two vears is dependent to some extent on the fate of the Breed vline bill now before the governor signature. The bill provides a line tax of 3 cents a gallon instead ents at present. The levy to road maintenan ast DIVIDENDS Pax abie, Stack of Corn, Cots. Tn o Cumb Pioe Line. Q Fed M & S pf Tlinots Pipe L. X Y Tranait YQot X 0 5t Ohin Unit Cig Strs Do Da. i Wahl Co pi GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) s 0 % June. 3 Tune July 1 June 25 Ger Gt (win) 3¢ 1011-18 Hamburg 4151019 . Ger Gt 3-5s (forced loan} (Quoted in dollars per thousand Ger Gen Elec 4136 nrew Ger Gen Elec 4158 1914 Berlin 48 pre-war Ham 35, 3128 & 35 b *Ham Amier Line 435 orth German Lloyd 4% s rih German Lioyd Krupp b8 1921 Dusseldorf 4= pre-was Frankfort a-M 4& pre-war Munich 4s pre-war Badische _Anilin 10.00 11.00 1200 #0.00 25.00 1 Gellsc + 1 Deutache Bank Darmstaedter Bank Mercur Bank Vienna BAKERY FIRM EXPANDS. NEW_ YORK. May 16 (®).—Conti- nental Baking Corporation has added two more large bakeries to its string. the Buttercrust Baking Co. of Salt Lake City and the Ogden Baking Co. of Ogden, Utah. 1.00. | few | week | Passenger revenue | Tune 15 June 1| BY WILLIAM F. NEW YORK. May 16, vances were recorded in a specialties in the closing the week. | against the previous ¢ St. the strength in this the stock exchange. was another feature, the last few minutes taking. S| Pathe under NEW YORK. May an offic list of truded in on the Market today 16 #nd BONDS. Deal- | Shawsheen 380 Cal Edison 5x 40 Stand 0 Stand FOREIGN BONDS 3Cits of Rozota Sx 03 I0Est R R France i« 8315 0 French 3 In Mes 1 Ren Poru % Rues Gv m Russ G 61 I Swiss Govt 5154 13 Toho Elec Pow | Sales STANDARD om. 1ssUEs n units 200 Anglo Am Oil 700 At Lobos 100 Atl Lobos pld 10 Borne Scrymser. 400 Imp 0 of Can n 1000 Inter Pet € Ltd. 100 Magnolia Pet 100 Pean Mex Fuel 100 Prairie 0 & G 240 Prairie P L 10 Southern P 210050 ana 1008 0 Kansas 3008 0 Kentucky 10 0 Nebrask 0% 0Ny 505 0 Obio INDEPE @, 1208 NDEXT OIL Serv_new Cit Ser B ofs 5 Cranle Synd A Euelid Ol Co # Gihson 01 Cor L Guir o o Pa Mex Land Peer Oil Corn_ . . 3 Pennok O] _Corn 4 Roval Can 0 & R i 2 Salt Ck Prod. . { 10Um Central Oil. 33 Venezuelan Pet. Wilcox Ol & G. INDUSTRIALS 3 Adirond Pow & Fipid 883, L & Trac...165% L & Trac pfd 9915 P & Lt new. 641z Holl Mills vf 108 Rayon Pr wi Superpow A TeAn Siberpow B 108 36 Followi York 2915 811 HEFFERNAN. | & number sessio The run-up across 51 a se of 48% tegis Paper was sympahtetic with class of shares on xchange but came off in ad- | of of | in| profit | | Department m,u,‘ 2 SALES Washinzton Rwy. & Elec 5oat 1165 at 1161 i i | | | i hxton Monot. | Natl. Mize. r—14 at R5. & Tnvest AFTER CALL | Rws. & FElec. Washington & Elec. pld . 4=—31.0 ne MeiRapotitan: Club 1-,’,_'u Bid and Asked P BONDS. PUBLIC UTILITY. & Telga. 48 & Tel. 4358, Am. Tel. & Tel. ctl. tr. Am. Tel & Tel. conv. 6s Anacostia & Potomac 3. Ana. & Potomac guar. 5 C.'& P. Telephone 5a.. C. & P. Telenhone of V: Cavital Traction R, R. 5s. City & Suburban_ Bs. Georzetown Gas 1st 53 Potomac Fleg. 1st 5s. Pctomac Elee. cons. 5. Potomac_Elec. 6s 195 Pot. El. Pow. £. m. & ref. ie. | Wash., ‘Alex. & Mt. Ver. bs.. Washl Alex. & Mt Ver, ctfs. Wash. Balt. & Annap. 5 Washington Gas 5s.. Washinzton Gas 6 Wash. Rwy. & Elec. 4 Wash. Rwy. & Elec s, MISCELLANEOUS. Pot. Jt. Stk. Ld. Bk. 5s..... 101% Rigks Realty 58 (long).. Rizgs Realty e (shori) ... Southern Bdg. 6%s.. ... Wash. Mkt. Cold Storage 6s Wardman Park Hotel Os. STOCKS. PUBLIC UTILITY. | Amer. o1 & Telga... 138 % Capital Traction.. aaa Washington G - L5t Norfolk & Wash_ Steamboat. 247 Wash. Rwy. & Elec. com..... 118 Wash. Rwy. & Elec. pfd. 82 Terminal Taxi com..-. 20 NATIONAL BA Capital National | Columbia Commercial Rstrict - Farmers & Mochanica Federa) Ameriean iverty - oln . ational’ M | Birge | | Second” Nat,'Bauk ‘of Washington. TRUST COMPANY. | American Securits & Trust.. 335 ("('.'r‘\u‘:lentl T 35 Corchants Nitional Savings & Trust ton Trust .. Union foan & Trust... ... SAVINGS BAN Commeres & Saviugs. Fast Washington.. Security Savings & Com.. Seventh Street.. United States... Washington Mechan FIRE INSURANCE. .. 225 D180 26 14% es. Amer. Tel Amer. Tel 03 101 NK . 208 300 15515 L 195 250 “‘National 360 41 TITLE INSURANC! Columbia Title.. . | Heal"Eetate i MISCELLANEOUS. p. C. Paper pld........ 47 Merchante: Trans. & 'St 110 | Merzenthaler Linotype D Ra Natl, Mige. & Invest. pfd.... 0ld Dutch Market com. Old Dutch Market pfd. Lanston Monotype.... ty Storage.. Fashington Market Yeliow Cab..... 3 om.— Washington Stock Exchange A com.—5 at 116, 10 at 1163 10 at PIA—10 at 93 1 | light 20 at 8 ar at 39 200 A i0 | week ago fed 00 at 75 | | 'J - ] | | i | Adirondacks Power | themselves | encice heavies THE EVENING STAR, WASHINGTON, NEW YORK CURB MARKET Received by Pgivate Wire Direct to The Star Office CHEAPER GASOLINE Bs Rrera it iai bl viEbianls e PURPUSE UF TESTS stock advancing almost 6 points when it sold s ectric Bond and Share, and Southeastern Power were the features of the Public Utilities, advancing from 1 to more than 6 points. The oils gave Chemists and Engineers Seek to Bring Down Costs of Transportation. BY J. C. ROV Special Dispatch to The Star NEW YORK. May 16.— Development Of motor-driven transportation on the | water and In the air. as well asx on| land. is exercising today a tremendons | effect on petroleum and chemical in-| industries. The daily production of crude oil ix running around 2000000 | harrels, and while the stocks of gaso- | line do not appear excessive, in view | of consumptive developments, they are badly distributed Demand is growing constantly. has been reflected In recent price ad. | nces. But part of that demand is| taking the form of a call either for a! cheaper fuel than the present gasoline or one which will provide greater en \ ersy in comparison (o welght anc bulk. Chemisis and enzineers thel »! e For RC vie. , fore arve husy the world over working | 3 Dirams’ Mot for more effective or cheaper fuel. Some their discoveries Dy Co A El'Bo’ & reudy b, revolutioniry P dustry of was a good account again. The close strong with most stocks showing g on the da K | Am Super pr C B vt Asso Gas & Eler Al Fruir Atlas P C new’ wi Bord & € new Bord & C Con M A Chapin Sac Chatterton & a:n “This ‘ommon P € pf amon P C war 5 Bal new 0 Bak pid i Coty ine Cub T C v s Curtiss Aero M iquid | of al- | ve heen | pgress in Motor Boats. | the mot en pheno years. ‘The Ford Co. has tak Lo bring motor hoat engines hasiy of quantity production Ford ( of Canada hux production of marine engines AU SB00 each fob. factory A Ont The enzine is similar tilities B 12 [ famous model T type used for ST *lin the Ford automebile, but the hPow ‘ser, transmission has been altered to cut h ont the low v and give only one peed forward and reverse. This nzine has successfully used a dix | tillate composed of 30 per cent waso line and 70 per kerosene of by boat in in late n osteps to The ried o sell Ford to the vears 3 Freshman Cf Gabriel Snub A arod Outd A € e ette S ren; Grennan Bak Hazeltine Cor Hexden Chem| I It Ca 1 lnt Int ‘al Utilities i 7 prin - Trs wi Moore Drop Fs A Motion Pic Can. 2 Musie Master Nat Pow Lt. Nat Tea Co Nic Pl new 1o Pl new pf wi orth 0 Pow € or Sta P € Pathe Ex Inc cent Air Service Commercial aviation swing throughout a the country hefore Plans are already panding. will he in full sreat portion of the year is out matured for exten ive freight-carryving lines. The air mail routes will surely be extended materfally in the next few months land commercial passenger-carrving ervice will be more extensive this Summer than ever hefore in the United States. he Checker ‘rancise Purity Rem N Rao 3 S Bak 8 T TCA S0 C & 1 mew Southeas P & T Standard Motor and Pub Co St. Regix Paper. AStutz Motor Swift Int) Aerial Cab Co. of San has started what it claims is the first door-to-door air cah service in America. By calling the company on the phone a patron can arrange | a taxi ride by land and air from the passenger’'s front door to any address in the State. A Pover 1 Thermoid Radic 3 Thompson Ra vie 1 Tab Prod Expts. Tower Mfs 5 Union Carbi, 8K United G & E o 6 United L 5 United Py 8 Utilities P & Viee Talk “u W Br P Pow TWh Rk M S of 0 4 TEWh RM S novie 361 MINING Che es Stirred. in motor fuel in cident 1o this expansion in use of & engines have already thrown p {the chemicul industry into confusion and have snatched control of an im portant chemical element from foreign hands. The steamship ISthyl has just returned to Wilmington from a d {water cruise after proving the prac ticability mmercial production of | a« water. The ship |3 | wax fitted out as a floating laboratory ind factory by the k. I du Pont de | Nemours (o, 1 Bromine. which is the only liquid | non-metallic element known to chem stry. is used in the manufacture of | tetraethy] lead. devised for mixing | with_gasoline 10 provide zreater effi- ciency in motor fuel. The vessel has| been put out of commission hecause the ethyl zasoline corporation has de- termined 1o offer none of the products for sale pending a report as to whether | its use was dangerou The question | will be taken up May 20 by Surz. Gen Cumming in Washington. Nevertheless, the operation of the floating factory proved the manufac- {ture of bromine from sea water en- Itirely practical and satisfactory. Here- tofore production of bromine was in the hands of Germans. The element is widely used in medicine and photogra. phy. and its successful commercial roduction from sea water ends the German monopoly. COLLAPSE IN COFFEE CAUSE OF INQUIRY YORK, May 16 ().— Nat 1 Coffee Roasiers’ Associ. is sending (wo representatives ¥ zil to confer with Sao 1o terests on the present demoral coffee market here. Felix Coste rec of the association. and . J Ach of Davion, Ohio, comprise the mission which, Mr. Coste sa is he- nt in a spirit of ation. h Brazil reported sending spe- cial investizators here to learn why | North American sales have fallen off | the present commission is expected to give three principal reasons for the slump. Mr. Coste zave these as Brazil's own underestimating of the competitive strenzth of milder grades | of coffees, reatrictings placed non shipments at Sao Paulo to keep the export price up. and something of a mercharts’ hoycott in this country. BUTTER DEALERS AWAIT REDUCTIONS IN PRICES; CHICAGO, May 16 (#).—The hutter markets during the week were gener- ally in a firm position, which was | due largely to light trading stocks | which were available. While price advances which occurred early in the | week were maintained with difficulty as the week progressed and supplies bLecame a little freer, yet the week 1 Weitern M Led' 1 M M i 10 0 10 Forty 0 Hawthor 0 Kay Cr 11 Ohio 20 Parmac Por M it A0 Plymonth 1, 3 30 Red Hill Fior 130 Srearhead 1 Tonn Eeten 10 Tona M 1 Tny Verde 1077S Conti 2 Utah Apex .. . 3% Wenden Cop . Ext CERE T CHICAGO LIVE STOCK MARKET ! CHICAGO, May 16.—United of Agriculture). Receipts, 4,000 head. mostly 15 to 25 cents higher than Friday's best time | or 25 to 35 cents higher than average: | light light and slaughter pigs, 25 to 50 cents up; weighty butchers and pac! ing sows show minimum upturn; big packers buving sparingly; bulk, good and choice, 140 to 225 pounds, average 00a12.25 top 1 bulk 240 to 370 pound butchers, 12.00a12.15: packing sows mostly 10.75a11.00: strong wei slaughter pig: rgelv 11.25a11 shippers took 0: estimated hold over 7,000, held off markei heavyweight 2.00a12.20; me dium a2 packing hogs packing hogs. slaughter pigs. NEW he tion to in- | d | di- part hogs, 12.00a12. light. 11 smooth. 10.90a11 rough. 10.60210.90 10.75a11.75. Cattle—Receipts, 500 head, compared vearlings and medium weight steers steady to 25 cents lower: choice yearlings ~ mostly steady weighty steers cents off: general steer trade very uneven: lower grade offerings more numerous, sharing de- cline: extreme top long yvearlings, 11.65: baby heef heifers. 11.40: strictly 11.00, at week’s high time: comparatively few ahove 10.75. v Nebraskas. 10.25a yearling heifers numerous at 10.50211.00: general fat she stock trade 25 cents lower: canners, cutters, stock- ers and feeders steady: latter class dull: bulls 40 to 50 cents higher: veal- ers 50 to 75 cents up. Week's bulk prices follow: Beef steers, 9.25 5 stockers and feeders, 6.50a7.7 cows, 5.85a8.00; fat heifers, 7.85a9 canners and cutters, 3.25a4.63; vealers, 9.00210.50. Sheep—Receipts, cone i | | | 6,000 head today; fat lambs steady: eight doubles from nearby feed lots, 15.75; seven doubles, 16.00; sorted 154 out at 13.75; all Cali- fornias: for week around 26,000 direct and 185 cars from feeding stations: compared week ago, Spring lambs, 35 {closed with stocks well cleared and a | to 60 cents lower: fed lambs, 75 cents|firm situation again prevailing to $1 lower; aged sheep, 50 to 75 cents| Buvers were not inclined to stock off. Bulk prices follow: Clipped lambs. |up heavily and this fact, together | 12.50a13.75; springers, 15.85a16.25; cull [ with the very evident sentiment clippers. 9.50a10.50: fat ewes, 7.50a8.50: | against forcing the market to levels top California 16.35: old | which would possibly force a prema- crop wooled clippers. | ture break before the long expected 14.00. asonal increase in supplies occurred, was largely- responsible for the pre- vention of larger price advances than those which took place. springers. i lambs, 16.00; BOSTON STOCK MARKET. BOSTON. May 16.—Following list of today's highest, lowest closing pri for the most #tocks dealt in here: is a and aetive| | COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY Close 16 Tow. Boston & Maine. . Calumet & Hecla Conner J T Copper_"Range.” 2t putie Eaatern '8 DETROIT. May 16.—The TInterna- tional Airways Co. will start an aerial freight service between Detroit and Cleveland June 1. It is understood enough contracts have been signed to assure success of the venture, NEW ORLEANS, May 16.—The area planted in Louisiana to veg- etables and truck this vear is esti- mated at 59,000 acres, a material In- crease over former years. CLEVELAND, May 16.—The Ken- tucky and West Virginia mines are shipping heavily for the lake trade. Shipments to May 4 totaled 1.967,77 {oms this vear, as agamat 1208729 tons last year. L.OS ANGELES, May 16.—Thirty- four new oil wells were started in the California fields in the last week, bringing the total for the vear to 484. This compares with 509 for the cor. responding period of 1924. PITTSBURGH. May 16.—Success of the tests of the huge electric loco motive built by the Westinghouse Island Creek Nat Leather. ew Cornelia. | New England ‘T & T ! Pacific Mill | Swift & Co. Swift Int'l. . United Shoe Ventura Oil | Walworth | Warren Bros TREASURY CERTIFICATES. (Quotations furnished by Redmend & Co.) ——Close 99 3 . 101316 L 101116 102 116 101 31-32 STANDAB,I! PACK URGED. Adoption of a standard pack of celery and elimination of the many odd sizes of crates now in use in some of the leading celery-growing districts . are urged by the Department of Agri- | Electric Co. for the line of the Vir- culture, on the basis of a recent study | ginian Rallway from Roancke (o of the industry. Mullens is announced. | ha | the hizhest since 1917 | Labor | week's adva | conclusions from a summary D. C, SATURDAY, SECURITY MARKETS STRONGEST SINCE EARLY {Low Money Helps Rise—Trade Reports Better. | Outward Gold Move Continues—Stocks in Marked BY STUART P. WES Al Dispateh to The Star NEW YORK, May 16.—The past | week in the security markets has been | the most favorable since the early | part of the vear. Prices have risen on the Stock Kxchange auite zener-| ally. Some of the individual gains!| ve heen remarkable. and there have been many new high records. The 1eason why this movement vites more confidence than that of the Winter is that it is supported. as the speculation of four and five months Aze was not. by a vizorous demand for investment securities. Corp e bonds are 1ling on the average at Liberty bonds | extreme highs maoney period bonds, in in-| e approached their of the abnormally easy last Summer. Foreign CoMMODITY PRICES IN SLIGHT DECLINE Department Reports That House Furnishings Went High- er During May. Al to May from odity u of tuction dle com the Bure April prices Labor per cent in whole: seported by listics, The Bureau’s survey ers 404 commoditiex, showed that 187 of | them decreased in price during the | nih. while 50 increased. The re-| were listed chiefly among farm products and foods. House furnishing zoods cellaneous comm her than during manth. which e and mis ex were zenerally the precedinz | GASOLINE “PRICE WAR” TALK HALTS ADVANCES NEW YORK. May ).~ developed a temporary hurst strength during the week on an- nouncement of gasoline price ad- vances along the Atlantic seaboard and a resumption of dividends hy the | Marland Company, but turned dull and irregular on the report of another large increase in crude production and the development of a gasoline price war” in xome of the Fastern cities. including New York. Copper also hounded upward in reflection of the fine showing made by the por- phyry companies in their quarterly reports, but falled to follow up the 16 Oils of | advance. STOCK PRICE MOVES UPWARD DURING WEEK NEW YORK, M 16 (#)—The price movement in this market continued upw frequent outbreaks of profit- and bear selling gave it the ance of irregularity much of the time. Trading showed a marked contraction in volu Which was at tributed 1o the hesitancy of the gen- eral public in following up last nee and the growing di position of professional nperator awalt further news and trade velopments hefore extending commitments. main week's stock rd al- thongh taking de- their 1BONDS ATTA;N HIGHEST LEVELS OF PRESENT YEAR NEW YORK. MAY () —The bond market during the week was stronz. hoth foreizn and domestic liens attaining new high aver: the vear Foreign exchanges displayed a firm tone, the reassuring statements of the newly inaugurated President of Germany. the decision of the French government to begin dis- cussions on America’s war debt and the announcement that Argentina would return to the gold standard 16 next month having a bullish effect | on sentiment. | ( |LUMBER TRADE IMPROVES. | Nineteen Weeks' Business Passes Last Year's Record. With considerable gain in new busi ness and shipments last week and a slight gain in production. as com pared with the same week of last vear, the lumber industry closed the first 19 weeks of the vear with a greaig® volume of business than for the same period of last vear. erto 1925 has not made so good showing as 1924. The National turers’ Association Manufac at these of tele graphic reports received today from 380 of the larger softwood mills of the country, which contribute about 10 per cent of the total annual cut. Lumber arrives EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Study Balance Sheets. If one is intelligentiy to invest in common stocks it is necessary to be able to read a balance sheet and un- | derstand general way what it porations the stock of | eserving of any investment tion whatever publish at ast once a year a statement showing their financial position. The most important this statement is the ratio betwee) current assets and current liabiliti This has nothing to do with the amount of money invested in plant or machinery or any other. fixed property It concerns the amount of cash on hand, the amount of marketable se- curities, particularly obligations of the United States: the amount of bills re- ceivable and the amount tied up in in- ventories. These comprise the current assets—that is, the items which pre- sumably could be turned into cash on short notice. On the other side of the balance sheet current liabilities con sist of bank loans, if any: bills pay able, interest or taxes accrued and any other items which the corporation is likely to be called upon to pay off in the immediate future. The differ- ence between the sum of these two classifications is called the working capital. A corporation which carries cash or high-grade securities sufficient to liquidate all its current liabilities is in a very strong financial position regardless of present earnings.” The average promoter never even furnishes a balance sheet and some- times not even an income statement. Both should be demanded and scanned carefully before making any commit- ment whatsoever, and if you are in doubt as to your ability correctly to interpret the figures consult some one upon whose advice you can rely, preferably your banker. (Copyright, 1925.) Query the Prometer. Determine how muen of his own money the promoter is putting into hiz scheme before you decide to risk yours. Don't taka his word for it— make him prove it | The steadv | bond marker the |although Hith- | thing about | MAY 16, 1925. PART OF YEAR Gains. Low Money Rates Factor. pushing ahead of stocks of the purely investment class—that is. those which ure limited in the mount of dividends they can pay- s been quite as notable a feature as anything t has happened in the We have, investment last six tity of sorhed then. the most propitions sitnation of any in the months. An enormous quan- | new securities has bheen ab. and vet prices for the old.-es tablished issues have heen maintained | at top levels. This, of course. indi-| cates a belief in the continuance of | low money rates, ° | Trade Recession Ended. | of the trade reports point to recession in productive activity the peak of January as having well run its course. Also they a similar completion in the | of imodity prices. Dun’s | savs of the past week that it is the first time since late in January | that the list of wholesale quotations | shows an excess of advances. Fven the margin is slight, the change ix significant. The situation, however, is Ways off from any suggestion of an industrial boom which would draw | upon credit supplies to an extent suf ficient 1o affect money rates. Id Moving Outward. A= for the gold halance running slightly the United States. but only our new loans on the other halance what is owed us in rent merchandise trade and interest payments. In the fortnizht since the re.estah lishment of the gold basiz in Great Britain the Rank of England h Inst somewhat over £3,000,000 each | week. Thiz has heen due ta the con version of hank notes into gold and | in smaller measure to exports of zold to countries where sterling is still at a discount sufficient to make the transfer profitable. The decline in the English bank's gold holdings so far is too small to he regarded as of consequence. (‘ertainly there i= no thought of having to draw upon the $300.000.000 American credit set up as an incident of the gold restoration Most from pretuy suggest reaction review a long 1 the | against hecause side over the cur in net movement Market Runs to Form. The course of the stock market has azreed pretty well with circulation It stopped going down at the start of April vom then on for the next month reaccumulation was taking place. That s large interests who had distributed stocks during the ex- citement of December and January were gradually taking them back. As dwaysx happens while this ix taking | piace, the market was very uneven. seeming display (wo sides, often acting uragingly to these who were hoping for better things. But the last week has proved position more clearly. Operations ward the end of the week produced a more general and more definite upward trend Money to Loan discy the i First Mortgage Loans| Secured by first deat of trost on real sstate Prevailing intereat and commission Joseph L. Weller g28web & & Ty FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President E MUST HAVE Immediately Guaranteed Investments to offer our clients In this connection, we in- vite applications for First Mortgage lLoans on Dis- trict of Columbia and nearby Maryland proper- ties which are improved. An immediate and satisfactory service will be gir applications. | | | Improved I{f Real Estate In Washington Worth Double The Amount Of The Loan— 'l Interest Rate | Today 61%— il Denominations of $100 to $1,000— Partial Payments Received— Mortgage Investment Dept. HANNON:& LUCH 713 and 715 14th St. N.W. AEALALALNTERAIINVETATNRVEYLRLULLYRRNRQRR FINANCIAL. 3 | WE FINANCE —all classes of income-producing property. Large Loans a Specialty Current int. Higbie & Richardson, Inc. 816 15th St. N.W. Prompt Action Loweat Rates of Interest aud Commixsion rate and commission. Thomas J. Fisher & Company, Inc. T8 15th Btreet ENTERPRISE SERIAL BUILDING ASSOCIATION 643 Louisiana Ave. N.W. S4th issue of stock now open for subscription. fo———lalc——u] WANTED Second Trust Notes has funds the purchase of second secured on in or close to Money loaned to members on easy monthly payments. g James E. Connelly, President James F. Shea, Secretary This available of all trust real D.C. company for kinds notes, estate Bonded Construction Loans OFFER Greater Returns With Safety Than any other tvpe of real es- tate loan Spink Construction Co. 1126 Investment Bldg. Phones—Main 901.2 Prompt Service E'Washmgton Investment= Tra1sachons Co. 713-15 14th St. N.W. Main 3662 If You Have Not Inquired Yet BOUT the exceptionally attractive First Mortgage Notes now being offered by our Loan Department. you have been missing an excellent opportunity to invest your current funds at the maximum interest return consistent with assured safety. Full information courteously given on request. . BOSS &b PHELPS Established 1907 iz K Street NW Main HOME OF HOMES 9390 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 Investment Bldg. Main 9392 § 3 ©) 3 3 The New York Life Insurance Company Offers to Make First on Improved Real Estate Mortgage Loans In the Distriet of Columbi for 3, : and Subnrhs or 10 Year Periods Houses Business Properties %% APPROVED SECURITY Apply RANDALL H, HAGNER & GOMPANY MORTGAGE Loay GORRESPONDENT GeltyiheneHain 9700 Apartments Office Buildings Ner32/ Bomnecticet Hvenue, R R R RRISRINS 56 Years 100% Safe O matter security what attractive features a have- is safety. nothing It vour more of may than principal that steadily and multiply with certainty. important is .safety makes money grow Choose time-tested First Mortgages of- fered by this company. They possess an unusual record for 100% safety. For 36 vears every client of Swartzell, Rheem & Hensey Company has enjoved the fruits of this safety, secure in the knowledge that his investments were being guarded by ex- perience ard conservatism. If your investments in the past have not been 100% safe, is it not time to make thenaeso ? 62% SWAKFZELL @EEMfi/l&E#/SEYOl shmgtm_D.C. Main 2345 56 Years Without Loss to An Investor