Evening Star Newspaper, May 28, 1925, Page 31

FINANGIAL. THE EVENING STAR, WASHINGTON, D. €, THURSDAY, MAY 28. MEAT SELLS OFF INLOCAL MARKET v Slow Buymg Brings Prices Down—Cheaper Chicken Likely Next Week. 1’ Tnactivity in the meat market is reported by local dea’ers. The mar-| ket continues firm. with supplies | enough to meet all demands, but buy re not taking hold tinued cool weath- | Dealers thi er has aided trade to a limited ex- ent, fresh meats not being in such| eal demand in warmer weather. Smoked meatx soon Will be in greater | demand, the calls for such meats| always increasing as the weather| gets ‘warmer | Lower prices in the New York market have resulted in diverting | shipments of Spring chickens to this | city and weakening the market. Prices here have not changed. how- ever, but dealers think a decided break will come early next week Today's Wholesale Prices. Butter—Fancy, tub, 51 store packed, Sggs—Faney, selected, average receipts, 3( Poultry — Alive White Leghorns, 35 keats, 40a75; & tu print candled, 32 roile heavy fow ducks, 20. choice, 11 Live stock—Calves dium; 11: lean, Sad. Lambs, Sprin Live hogs, 12 | Mealt. of, 17015; vel, 18; Spring | lambs, 30 1% loins, 31a | 32; hams, 2 shoulders | Frait Vegetable Review. H Miy's market report on fruits and vegetables (compiled by the Market News Service Bureau of Agricultural economics), said ! Cabb: Supplies lizht demand | moderate, market firm: Virginia, | folk section, harrel crates ted type. | best mostly v quality, | Cantaloupe: light: de-| mand light, ma v: California, | Tmperial Valley, salmon tints, stand- | 458, 7.00a7.50; jumbos, 43s, S.00a | s, ads . Mexico, | . Salmon stund- { : flats ! 2.00a2 | Cucumbers—Supplies moderate; de-| mand moderate, market fairly steady Virginia, Nc¢ 1k section, hotbed stock. ] bushel hampers, few sales * outh | Carolina, bushel hampeis, 4.00a1.50: | Florida. square bushel crat L fair quality, 3.00a3.50; No. | Lettuce Hght, market st tral district, crs doz. 14.00, Onlons Supplies lig light, market firm; T ites vack, o Market Ste Supplies moder wly: tes. leeher Yellow Bermudas mixed No. and erate: de. steady )-pound mang stock Round » York, 1 Whites, U. S 2.25:. er. New stock 8 ¢ barrels, Spaul 4 {7 8. No. 1. some wasty, 6.00; South | arolina, cloth top stave barrels, Irish | Cobblers, U best, & i some fair q Strawberr light and supplying Tomatoes. wn-—Supplies the market. upplies woderate; de- ! mand moderate. market steady: Florida | fis. ripes and turnine. wrapped. best | fancy count. 3.75a4.2 choice count, 2.75a3.2 ordinary quality and condi- tion fancy and choice count. 2.00a3.00. Watermelon Demand Light. Watermelons—Supplies demand light. market direct o retailers: Florida sons Ib. average, 1.00al 1b., average, 75a90. moderate: : sales m Wat- String heans Supplies moderate; demand moderate. market weaker; hampers, green, best 4.00a4.25; few t mostly, 3.50; some ordinary qual- low as. 2.50; North Carolina, bushel hampers, green best, 4.00a4 few | stringless high as, H Pepper — Supplies demana | moderate, market Florida, crates, No, 1, 3.00a3 2 2.50. Dewberries—Supplies light: moderate, market fairly ste Carolina, 32-quart crates, 26.00; some fair condition 500, | aches—Suppl demand limited, market wes “arolina, | sixes Mayflowers Georgia, | sixes Uneedas. 2.00a ! Reets—Supplies liberal: demand lim- | jted, market slightly weaker: Virginia, | orfolk section, bushel hampers and ! crates, hotbed stock, 5a7 per bunch. COTTON QUOTATIONS ) HOLD VERY STEADY Condition Estimate Helps Prices Keep Above Close of Yesterday. Br the Associated Press NEW YORK. May 28.—The cotton market was very quiet again early | today and traders still seemed to be he walting for Government report early next week. The opening was steady at unchanged prices to a de- clite of 5 points un lling in- fluenced relatively cable: The effect of the lower cables was offset to some extent 1 lower private condition report, and after off to 2 for October out 6 points net lower, the mari Nied to approximately the closin prices of vesierday on coverl cotte advan futures « of 8 to New Yol steady at net July October December January March Openii July, anu 97 October New Orleans Values. W ORLIAN May on market opened eas r owing to Liverpool proving lower than due. 3 1des_showed losses of 6 to The market soon rallied. | the fnitial losses on buying induced by @ report that a promi- et Southern authority made the corfdi nd the Texas condi- tion Neéw Orleans cotton futures closed steads at et advanees of 17 to 15 poinis July Oatebe Decem! January March Opening 22.14 bid What Experts Bu Trained investors always buy se- curities that have a substantial loan value. One of the surest methods of determining the value of any stock is to seek a loan on it. If your banker declines to consider it as collateral You can rest assured its marketability 'dflefi not amount to much. 28 wwfm is- Sun 0il Co. has NEW YORK, May sue of 180,000 shares of recently offered to the public been oversubscribed. * { for profit appeared the n BY WILLIAM F. HEFFERNAN. NEW YORK, May 28 —The specul u\. clement in the operations on the ‘urh Exchange teday resorted to the now familiar procecure of bidding which cbances t tavorable. Some spectacular advances were recorded and the usual number of new high records estabiished. National Power and Light furnished 1 selected issues in the feature of the public utility sroup, vpening at s azainst Wednes- lay's final of 3221, The gencral be- lief prevalled that a split-up of sk would be announced i near future. Lehigh Powe, 5 were up more than 5 points. -while NEW YORK, May 28— Followi 0 official list of honds and stocks ied in en the New York Curt AL Sales in thoy ket oy Am Sumat T Am_ Roll Mil At AU F e Ing Bell T C Beth Stl Can Nat i Stand G & B 280N Sun 0Nl Switt & Co 86, 3 Transco O 7s Thyssen 1&St L 7o & Veeuum Ol 4 Webster Mil FOREIGN Aipine Mont S z S z < Denmic B of Peru & Russ G #1 e 90 Sol i sw 49 Toho STA Pow Sales XDARD OIL n units 1100 Anglo Am 01 400 At Lobos 10 Buckese P T ISSUES, 10 Gal § O pid oid 4300 Humble Ol & R 6000 Imp _Oil Can new 40 Ind P L = 3900 Inter Pei C Ltd 190 Magnolia Pet $0 XY Transit 200 Ohio Ofl 100 Penn Mex Fuel 1100 Prai O & G new 60 Prairie P L 100 South Penn Oil 10 Southern P L 6000 30 : 300 8 O B0 S 0 108 0 WS 0 4 1300 Vacuum Oil . Sales INDEPENDE! in hundred 1Am Contl Oil 4% 4T 58 Am Maracaibo ¢ 7% 8 4+ Ark Nat Gas 6% 6% Washington Stock Exchange SALES. Washington Rws. & Elec Washington Rwy. & i 10 at 8350 at 8310, 10 ai 833 com.—3 at 12 e, pid.—10, 30 at K31, 20 4t 833, 10 National Mtge. & Invest. pld.—30 at 9% AFTER CALL o Washington Rwy. & Elec Mones—(all loans, 5 and 6 per cent Bid and Asked Prices. BONDS. PUBLIC UTILITY. Tel. & Telza. 4¢ Tel, & Telza. 4155 Tel. & Tel. ¢ E Tel. & Tel Anacostia & Pot Ana. & Potomac guar. €. & P. Telephone 54 . & P’ Telephone of Va jon R R 5e surh 5 Wi Gas 160 B¢ 5a. Bid. Asked. 97 4 7 04 ih Capital Tra & ins"" Washington Wachington 103 . Rwy. & P TR, i Washi. Rwy . 65...... 1013 102" | "ELLANEOUS, Pot gt St Ld. Bi. ba.... 1014 1031 | Riggs Realty 5= (long). ORi; 100 Riggs alty 5s (short) 08 100 e, s Yan., AR ark Hotel 0a.. - +. 101 STOCKS. i ITILITY STOCKS | ATIONAL BANK Capital Nati Columbia . Commercial Distric Far Federal- Liberty incoin National Riggs - Nat. Bank of Wash.. TRUST COMPANY American Security & Trust Continental Tru Merch & Mechanics merican M.nnpom’un atio Tnion Wash Trust.. Loan & T sceurity Savi Seventh Street United States.. shington M FIRE INSURZ TiTLE Columbia_Titie. 9 Real Estate Tith 153 MISCELLANEOUS. D. C. Paper pf : erchante, Trans. & Storage. Aergenthater Lino il Mtge. & v OFi bateh Mar Security Washington Yellow Cab... . *Ex dividend. ' Market. 45—$1.000 at | NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office the Southeastern Power issue rose al- most 4 points, close to the 100 level. The short interest in such active issues as Kelvinator and American Rayon Producis bid the price into new high ground when they d to even accounts There was another sharp advance in Chrysler Motor in sympathy with the turn in Maxwell the Sto change, but this was for technical reason, Following announc that transactions in the Max junior_shares, which are conves into Chrysler, would ‘be confined to the o tes as the result of the | veduced supply of tock, the price K over d part of the gained Motor was at the hest price for the year. ) Contl Off vt ¢ le Synd n € pfd wi o’ Co oil Cor O vt cts Wi O of Pa i Roval ¢ O&R UR 1 Ryan_Con. ... 133 Salt Creek Prod 1 Navoy Ol 127 Sun Oil wi i 0N\ 4 01l new wi 4 INDUSTRIAL 13 Adirond P e 38 Th 'y A Pow 'S Bid 161 *aii 104 1 Allied Pact A G Am L& Am Pow & Am Pow & Am Rayon Am Superpoy A B0 Am Sipernow B 5 Am Thread Co pi T Apco Mfx Co A 1 Armour B vie 10 A% G & E 2 Atlantic Friil one N 10 B S et A o Bridgeport 10 Brit-Am Tob Cou 5 Bklyn City R R 2 Brown & Wme B 4 Busrus Co bia Gen E1 C s, Bure Ad Mnw pit 10 10 Car Light 1 Dry 6 A A DG AR biin, Cellule % Doehiler Dic 11 Dubilier € & Rad Intl 1 Sh prd S new Cor t Ind L Va Mot Co Frank H H Mfz ¢ “reed Eisers R € Freshm 4 Glen’ Alden Coal 48 Goodyear Tire 2 10 Grennan Bax... 13 ilith 1 W, 1 Ra Ci 8 oni Wire Toi ag . 8% Box P4 L w5 Vi W e i 1 Wit ris u:‘ Macter Nor Ont I, & 1 ommibus © A pra 3 Opppenhm & "ol 11, Pathe Ex Tne 4 & Pow Corn of N'¥ 1 Pow Secte”Cor Purits Pak A i punty Bak B 1 Byreae it i Tee Crea Reo Mot o Roeenbm G © SI°G P v 'ty 1 Singer Mfx Lid. 307C &1 Hew 6 Southeast B & 1ie Soutn Cant g4 i Sou Cal Ed B p 15 'R ber > O Pun'C A ; Swift & Co Tenn Elec Pow Thermiod Rad © > Thomn R €. vic 1 Tob Prod Exp ited Pft Shar. Ul P & LCA. Universal Pie €. Victor Talk Mach « Radio ner Bros P 28 West Pow .. 5 i Wils&C A nw wi Wils&C nw pf wi MINING 100 Ariz_Globe Cop.. 20 Calumet & Jer 4 Bne Gold M Lt I 40 Eureka Croesis, 20 Gold State. ... ‘08 30 Hawthorne ¥ } ! Howe Sa new vic ‘15 abpr outh’ L 10 Reamwin La Am ‘Gold & B arhead Gold .. ono Belmont Ulah Kped © 13 Wenden' Cor YEAR'S FIRE I.OSSES HIGHEST EVER KNOWN By the Associated Press. NEW YORK, May 28.—Property de. stroyed in this country by fire in 1924 Was estimated at $548,810,639 in a re. port made today at the ninth annual Meeting of the National Board of Fire Underwriters. This total, according to the report, is the highest ever known in any country. Despite the rapid increase in aggre. gate burnable values, the “‘curve of de- struction” has risen less rapidly, it was stated by H. A. Smith, head of the National Fire Insurance Co, of Hart- ford, Conn, L {step in | the Washington. Baltimore and An- | napolis Railroad. though. of course, 3 | this could not be done without ob- . RAW MATERIALS ARE | LEADERS IN IMPORTS | Raw 5 1y | against | W, B.& A COMNON N AMAZING RSE 1Stock Soars From 6 1-2 to 1 12 1-4 in Three Days. | Merger Talk the Cause. officials of the Washing- Itimore and Annapolis Electric as well as of the West- v d Rallroad and J. E. chairman f the boards olidated Electric Light ind Power Co. of Boltimore and the { Pennsyivania Water and Power Co., reports still persist that a deal in. volvinz # change of control of the elect Common line may soon develop. Stock Touches 12%. The common stock of the company {touched 123 on the Baltimore ex- chanze yvesterday. This compares with 614 aturday last and 57 a few we 5o0. Bidding for the s spirited, and it was re- jported that some sizable blocks nged hunds without records. As on recent days, buying was chiefly for | eut-of-town account, although local { operators continued to add to their innhnn. . New Y interests are said to have arted the buying of [ both the common and preferred stocks of the company last week and have continued to accumulate them. “Some persons in the finance di | trict cannot figure out what advan- tage the W. B. & A. would be o Mr. Aldred.” said one well posted finan- | man. “They have evidently over: looked the fact that the Consolidated Gas and Electric Light and Power Co., | which 1s controiled by Mr. Aldred and | associates, is shut out of Anne Arun- {del County through a ruling of the Public Rervice Commission of Mary- land. W. R. & E. Might Buy Road. territory is served by the An- polis & Chesapeake Bay Power Co., which is part of the W.. B. & A. sy: tem. The district is bullding rapldly It is known that the Consolidate | company would like to invade it. It is pointed” out that the quickest and easiest way to accomplish this purpose {would be the acquisition of the W., B. | & A. railroad. | “The suggestion is made that prob- iably Mr. Aldred. if he acquired the { property, would not wish to retain the traction end of the business. In that event he might dispose of it to the Washington Railw lectric Co., ‘um\ which the W., B. & A, has an| greement to use the former's tracks {into the heart of the Natlonal Capital. Most Profif lon. The Annapolis o peike Bav er Co. is the profitable ision of the W.. system e power company operates under w 50 vear f amd its business panding at pid © It is el out tha e Consolidated ‘tric Light and Power Ca., with wern f es and ample power, large part of which is supplied by the Pennsylvania Water and Power {Co.. also controlled by the Aldred | sroup, could develop the territory | | more rapidly than the Annapolis and peake Bay Co. can nkers say the logical (hing for I company to do under the nces would be to broaden its of activities. They add that a this direction would be the { acquisition of the power business of | Ches the I circun tield | taining control of the svstem as a | whole and then disposing of the traction end to the Washingtori rom- pany or possibly to the Western Maryland Railway.” Western Maryland's Rights. The Western Maryland now has an cement to use the tracks of the shington, altimore and Annapolis | Railway in and out of Washington Auring certain hours. It is known that the Western Maryland has for years desired an entrance into the ational Capital and also . into Annapolis. In the event the Western Maryland Rallway is allocated to the New York Central in the raflroad mergers, con- | { solidation of the former and the | Washington, Baltimore and Annapolis would give the New York Central en trance into Washington and Annapolis |4s well as Baltimore. | materials constituted the big- gest single item in April imports into the U'nited States. while manufactured goods made up the largest item of ex- port. | Commerce Department figures to- day, analyzing the month's imports and’ exports, together with compar sons of materials in the same categor: for_April of 1924, follow Exports—Raw foodstuffs, § against $12,336.000; foods consumption, $39,356,000 against $- 693,000; raw materials for use in man- ufacturing, $84,908.000 against $80,- 000; manufactured goods, $170,- §75,000 against $147.346,000; partly j manufactured produc $60.704,000 against $50,086,000. Tmports—Raw foodstuffs, $36,591,000 egainst $35,286,000; foods ready for nsumption, $48.426,000 against $58,- ; manufactured commodities, $62,305,000 against $64.069.000; raw materfals for use in manufacturing, $140,540.000 against $110,589,000; part- manufactured products, $59,824,000 529.000. FOREIGN EXCHANGE. » W. B, Hiivos Ao | | (Quotations furnishea Nominal Sellfag checks gold vaiue. today. London, pound $4.H605 $4.86% Montreal. dollar 100 = Paris. franc Brussels, franc Rerlin, mark Rome. lira. Zurich, fran Athens, drachm Madrid. peseta. . Vienna, crown | Budapest | Prazue. ¢ Warsa ', zloty enhize 448 000014 4% ! ristiania Shockhoim. W YORK, May 28 (#).—Foreign exchanges - steady. Quotations (in cents): Great Britain, demand, 455 13.16: cables, 486 3-16; 60-day bills on banks, 481 11-16. France, demand, rown crown 011;; cables, 5.02. Italy,” demand 3.97: cables, 3.97% 2 German: - way, 16.8 18.80: Switzerland, Greece; 1.70%; Poland, 19% slovakia, 2.96; Jugoslavia tria, .14; Rumania, .47% 40.75; Brazil, 10.55; Toklo, 41 hai, 75%; Montreql, 100. ey s TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) -Noon,——— T Abyssinia has a Jewish population of 50,000 | Darmsta: Steamboat Officials CLARENCE F. NORMENT. First vice president of the Norfolk and Washington line, who was elected president at the regular meeting this afternoon, succeeding the late Levi Woodbury. . J. CALLAHAN, cond vice president and general manager of the line, who was elevated to first vice president, fo succeed Mr. Norment. He continues as grneml, nanager. HOOVERFINDS PRICE FIXING GREAT HELP, Action Saved U. S. Farmers Vast Sums During World War, He Asserts. of prices on wheat by the | nt during the war with Ger- B it Do noim o American farmer which he might in pvern many, the have obtained in a free market, in creaséd the selling price, and main- | tained it iinst influences which | would have held it on a lower leve an offieial Government publication i put out today and approved by Secr tary Hoover, declares. The statement was written by Dr. Frank M. Surface. Dr. Surface, who as economist f¢ the United States Grain Corporation, | which handled the war job of can- trolling breadstuff prices and distribu- Uon, has revealed some hitherto un- disclosed steps taken by the Grain |2 Corporation I carrying out its grain | policy. Dr. Surface likewise undertakes to show that by the control of wheat! and the assoclated dealings with the | price of meat products, the consumer was actually protected from extortion- ate mulcting in the cost of finished products. The study, Mr. Hoover said, | wave him opportunity to “pay tribute | to my colleagues in the food adminis- tration, und to the farmers who gave 80 mMuc in exertion to the production of a vital supply on which a large | [part of the success of the war hinged. | American women | the use of flour | to the enlal and alo to the whose economies in contributed so much ment of that surplus.” CLOTH MAKES UP LOSS. | NEW YORK. May 28 (Special). The Worth street market for cotton cloths continues quiet today, print cloths regained the eighth-cent loss of yesterday and were back at 93, with 68x72s at 10%. But quota- tions showed no material rhangel —e GEB}IAN BONDS AND STOCKS. (Quoted in dollars per million marks ) ed s dmisis 1fdon 11500 burx 41 < 7500 23 el Eon (forced loan) 15.00 Quoted in dollars per thousand Ger Gen Elec 4138 prew 21.00 Gor Gen Eiec 4324 1010 Berlin 4s pre-war Ham 3u. 3% & Hamburx Amer Li Norih German Liova 4138 North German Lioy Prussian Consols 5152 Ger Gt (w o} sche - Anilis REE° (8o B¢ Fivei© Commerz and Privat Bk Disconto Gellschaft 2 Bresdner an iache Ban rater Bank Bank_Vienna T REAL ESTATE LOANS 537 et B8 RESIDENCE LOANS AT LOW RATES FRED T. NESBIT INVESTMENT BLDG. Main 9392 Real Estate Loan Man Open for Engagement Address Box 45~V, Star Office Quick, Courteous Action Hlne’ to Loan on 1st, 2nd and 3rd Trusts Ad et o t:flv"fifi".’.'u"'cmr"‘ te Dutncl Loan i’roumme", Comp: 219-223 Kellogg Bldg, 1422 F St.N.W. Tel. Main 8070 but 64x60 | First Mortgage Loans 0> Washington Real Estate We always have on hand an adequate supply of money to ° loan at lowest rates of interest: and we are now loaning our money at 5 E. Qumcy Smith, Inc. 909 15th SL Telephone Main 9057 _ FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President WE BUY First and Second Trust Real Estate Notes secured on in- come-producing real estate in Washington, D. C. Construction Loans Made Real Estate Mortgage & Guaranty Corporahon 26 Jackson Pla Resources Over ommm. L. E. BREUNINGER President 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 Transactions Co. 713-15 14th St. N.W. ain 366! Public Service Corporation of New Jersey i il Dividend Ne. 72 on Commen Stock | Dividend Ne. 26 on 8% Cumulative Preferred Stock Dividend No. 10 on 7°; Cumulative Preferred Stock The Board of Direciors of Public Service Cor- poration of New jersey has declared dividends ac the rate of 8% per aanum on the 8% Cum: lative Preferred Stock. being § 0 per sh the rate of B being $1.75 per share. and $1.15 per share on the non-par value Common Stock for the quarter ending June 30, 1025, Dividends are payable June ockholders record June 5. 1935 T.W. Van Middlesworth. Treasure “ Continental Trust Company Capital One Million Dollars 14th & H Streets lablished 1916 Buy All or Any Part of 100 Shares Banking Trust and Mortgage Co. BUCK & CO. EVANS BLDG. 1420 New York Ave. Phone Franklin 7300 Money to Loan Secured by first deed of trust on real estate Prevailing interest and comm Joseph I. Weller &2 % Without R'llk or Worry EVBRY dollar of interest paid promptly when due; every dollar of principle paid promptly when due--that is the 52-year record of The F. H. Smith Com- ‘pany. ' Our First Mortgage Bonds, in de- nominations of $100, $500 and $1,000, now enable you to get 7% for any period from 2 to 10 years. You may invest outright or un- der our Investment Savings Plan, ‘which pays the full rate of bond interest on all payments. "MAIL THE COUPON NOW The F. H. Smith Co. Founded 1873 Ncl.-u-lnhr-o-hfl Years smmmiq 815 Fifteenth St. MONEY TO LOAN IN ANY AMOUNTS Upon First Mortgages on Improved Properties In the District—Current Rates Prompt Service HANNON- & LUGCHY INC REALTORS And Mortgage Investments 713 and 715 14th St. N.W Main 2345 I I I e ) e el e The New York Life Insurance Company Offers to Make First Mortgage Loans on Improved Real Estate In the District of Columbia and Suburbs for 3, 5 or 10 Year Periods Houses Business Properties V2% ON APPROVED SECURITY Apply Apartments Office Buildings MOoRTGAGE LeaNy GORRESPONDENT oNer321 Gonnecticut Hoenue, TeliyihioneMain 9700, e Office Suite for Rent Ideally Located pecially itable for Real Estate—Insurance — Financing — Inwvest- ment—or Similar Cor- porations. SAUL BUILDING 925 15th St. N.W. Reasonable Rent B. F. SAUL CO. Main 2100 925 15th St. N.W. FOR INVESTORS MORTGAGE NOTES IN CONVENIENT DENOMINATIONS ON IMPROVED PROPERTY in DISTRICT & COLUMBIA H. L. RUST COMPANY Main 6888 912 15th Street et Standardized Safety HROUGH their unbroken record of 56 vears without loss to an investor, our First Mortgages have come to be recognized as a standard product. All First Mortgages, offered by Swartzell, Rheem & Hensey Company, are equally safe: they are all negotiated on the same basis and protected by the same system of safe- guards.* Safe investment has been standard- ized by this organization. We are now offering First Mort;gages. in denominations of $100 and upward, to yield the investor 62% S\_ix_lgnufilzm ¢HENSEY Co. Sheet, N\W ™~ (( shlngion.D.C. 56 Years Without Loss to An Investor