Evening Star Newspaper, May 31, 1925, Page 41

1925— FINANCTAL, WINNEPEG WHEAT p=——ne=——=0 IN SHARP TUMBLE | WANTED I Guaranteed | e T Second Trust ||| 614667 precipitously throughout today’s ses. | NOteS o First Trust Notes sion, wheat priced declined 9 on | the extreme dip, May slumping to | | | T?ais company “has funds Real Estate Mortgage & | available for the purchase Gaaranty Corporation 1.82%. With the United States mar of all kinds of second 26 Jackson PL. N.W. kets closed, and an acute lack of | foreign demand trading was extremely IE trust notes, sccured on real esiate in or close to Gu first trust notes as to pavment THE SUNDAY STAR, WASHINGTON, D. €., MAY 31 'BOND SUMMARY FOR THE WEEK |District Bankers’ Association Is Making Splendid Progress Largely Attended 'Get-Togethei' Shows New Era of Helpfulness—Gen. Lord 3 10i-14 Liberty st 43 s 1932-47 Wizard on Figures. High. Low. Last. Yield. 1013 100-30 101~ 336 102013 102-8 10210 391 101-12 101-7 101-10 379 102-1 101-26 101-81 372 0 Liberty 4th 43 193 1 102-19 10246 102-18 391 10413 Treasury 414s 1947-62... 10618 106-8 106 14 388 * Vlote: High. Low. Tast e T L 102 102% 102% 102% 98l 99 9% 98% 87% 87% 86% 864 109% 109% 108% 109 107% 107% 107% 107% 85 854 B Bd% eB% 9% 98 93 104% 104 10415 104% 103 108% 108% 103% 103% 103% 102% 102% 108% 1094 108%: 108% 109 100 108% 108% 4T4h 4B 4T% 4T 99 99% 98% 99% 100% 100% 99% 100 102% 104 102% 104 110% 110% 110% 110% 102 - 108% 102% 1034 102 103% 102 108 99 994 97% 97% 102% 102% 102 102 96% 96% 964 95% FINANCIAL 21 INVESTORS SHIFT 10 NEW [SSUES - {10223 |- Tow 103 107 08 Foreign Bonds and Utility |53, 5 822 9 5% Preferred Stocks Gaining |-~ Rapidly it Favor. 0 Liberty 2d 4% Liberty 3d 41,5 1928 Argentine. bLer held relatively firm. Argentina 7s 19 Austria s f 78 1943. Dielafum 63 1955... Belgium 738 1945, . Belgium 85 1941, Bordeaux 63 1934 Brazil 8s 1941 Canada bs 1952 . Canada 5%s 1929 Chile 85 1926. Chile 8s 1941. Chile 851946 Chinese Govt Ry 6s 1961 Copenhagen 515 1944 Carechoslovakia 8s 1961.... Denmark 6s 1942 Denmark 8s 1945 Dutch East Indles 6s 1947 Dutch East Indies 6s 1962 French Govt 7%s 1941 French Govt 85 1945. German 7s 1949... m 109 91 9914 1044 104% 1003 1043, 16214 109% 101 108 ° 101 47% 39y d64 871 101% 85 101% 93y 111% 107 9% 924 6 9235 89% 9215 963 97 Money to Loan Secured by first decd of trust on real estate Prevailing interest and commission at the dinner Jast Tuesday evening.|Joseph I. Weller 420 Wash. L. & Trust when he recited ofthand, without ph 1. Weller 3000 <3 NS memoranda of any kind, figures in| | Prompt Service the billions and milllons down to and FIRST MORTGAGES || : ElWashington Investment= Denominat and including odd cents in giving budget FOR SALE ! | $1,000 and upwards | | itees dull. The new crop future and Oecto- | D. it BY I. FLEMING The District Bankers' Association is functioning as it never did before. One finds not the slightest difficulty in giving a reason, and a good one, for its existence today. It is helpful to the member banks, reducing losses through frauds and bad checks, giv- ing publicity to sharpers and their methods, exchanging, in a way, credit information, and keeping banks post- ed on matters of general policy and of special interest. Moreover, it has brought about a unity and harmony among the bank- ! BY GEORGE T. HU( H o1 Special Dirpateh to The Star i and NEW VORK, May 30.—The invest- | of ment demand remains as strong. as ever, but the direction in which it shows jtself is slowly shifting. With high-grade bonds at their present level, legal for savings bank investments on a less than a 5 per cent basis, the United States Government obligations higher than at any time since the Summer of 1924, it is but natural to expect that possibilities of further 10915 4813 100 10! 104 111 10314 10314 1004 104% Ty time a “32, “24," “46," “78" or in the cents column came out, the speaker was given a hearty | cheer and laugh in recognition of brain effort. g One of his hearers was reminded of the old story, originating on the Board of Trade in Chicago many years ago. There was a somewhat famous statis Denominations ns of §250, $500, $759, 6%2% 713-15 14th St. N.W. $100 $500 $1,000 All Loans Made on Property *Main 3662 Resonrces Over $2,000,000 Located in the District of .. E. BREUNINGER Columlsia . Transactions Co. Pres. price appreciation in securities of this cla: re unlimited, and so there is a very evident turning to obl tions not quite so perhaps, but safe enough for practical purposes on which a higher vield may be obtained. Once the bond market has a4 certain average this is an invariable phenomenon Two Favored Classes. The two classes which seem to be coming into greater favor now are, first, foreign securities, and; second public utility preferred stocks. As to the. former, the average qu shows slow but « stant adva 1t is now approaching to the high t of 1922, At present r cent ) longer obtainable on obligat of the nations of northern kur cutrai in the late war States and floated the high 1921 are demption and redeeming or preparin their o tanding high ¢ bonds and replace them with o 6 per cent issues, the latter ma at a premium There has improvement tral European new-born cour hed by the treaty of Versailles, h finan cial and economic conditions in this part of the world are on the mend. Political doubts are still unresolved. which during municipalities this bheen n the power: no corresponding foans of the cen and of those South Ame Instead, an Issues Up. those who . t otake some speculutive have been satisfying their needs in the South American field. The mar- ket for the obligations of the coun trieg situated in the southern part of this hemisphere better today than for a ve The most interesting development in the foreign news of the week has been the suggestion cabled from Paris that the French fin minister was plan ning the stabilization of th onequarter of its pre- So far thix has been only discussion but something of this kind would be strictly log 1.*It would. of course, bear hard upon the holders of French internal bonds. principally the French themselves, but it would simply amount to official recognition of an accomplished fact, The reaction of French hondholders to this proposal remains to be seen, but the ch: are that even they would prefer st bility to the prevailing uncertainty. However that may be, the effect upon the outstanding French dollar bonds so largely held in this country would be favorable. It would mean that France was setting her inter nal obligations lar, but paying her external debts in full, all this on the assumption that the waur debt of the rench to the United States is also settled on a isfactory basis. Trend Toward Utilities. The other direction toward which in vestment inquiry seems to be moving is that of the preferr stocks of the prosperous utilities. As every one knows, the comon stoc of these companies ha ed to unprecedent- ed heigh peculation has run wild, in ses present values being entirely disregarded in pursuit of future possibilities. All this time the preferred stocks have been neglected because they had no speculative at traction and because the conservative investors would buy nothing but bonds. This condition is in the way of being corrected if market indications may be trusted The nominal quotation for preferred stocks of electric light and power com panies, and referen s here made mostly to the unlisted and outside market, is still very low but it is get- ting more difficult to buy actual stock at the offered price. There is no dif- ficulty about selling, but any attempt to buy large quantities exhausts the supply. willir risk Move Is Gradual. Probably there is still plenty of time for genuine investors to increase their holdings in this field, for movement of this kind proceed very gradually. Still, it canot be indefinitely true that 612 and 7 per cent can be secured with greater relative safety in utility preferred stocks than in any other form of investment A good deal of the prospective investigation Interstate Commerce Commi the St. Paul receiversh doubtful whet be brought out. S St. Paul's troubles are all on the face. The receivers th the case in much the as the directors did vear. In both explanations upon motor ject was exha is taken in by the in the ess was- pht competition. This sub <t discussed by Secretary of A culture Jardine be fore the Midwest transportation con- ference. The Secretary’s conclusion was that as f{z motor trucks were concerned competition with the rail roads would nmever be serious except for the short (Copyright 1925.) Industry 4,000 Years Old. The silk industry of China is more than 4,000 vears old. It began with the domestication of the wild insect which is now the valued silk and it has continued without serious interruption in China ever since. Al- » industry has had #ts ups like others, it is still flourishing and growing in spite of the artificial silk industry, due to the growing popularity of silk as a fabric for the Western world. The silk stock- ing vogue has had much to do with recent progress. Business Tender-Hearted. Officials of the Birch Valley Lumber Ceo. at Tioga, W. Va., demonstrated that “big business’’ has a tender heart sometimes. This company refused to fill a Philadelphia lumber yard's or der for white oak until a robin, which was discovered rearing a young birood on top of the pile, had time to teach the fledglings how to fly. The officials declined to allow the workmen to re- move the timbers, though it meant waiting some days for the brood to grow up, and there were no other sea- soned white oak planks in the yard. pepaind e Ty i Experienced Father. From the Pittsburgh Chronicle. “Is the world round?” ma’am asked the little boy. ' said he . eh? a school- Ts it flat, then?” “Are you crazy. child? 1f the world Ksn't round and isn't flat. what is it?” “Pop .sayy @8 crooked,” said the b tion | cents on the dol- | worm. | 1 a | 113% 1099 i 84 5 1104 | 101% 107% 104 109% 106% 984 89 105% 100 102 9214 110% 100% 120% 1144 1005 56 103% 9% 90 791 884 821 105% 96% 8 | 957% oTi 5% 9 114% 1097 10215 984 97% 93% 107% 104 99 91y 9% 90% 24 90% 103% 99% 97 84% 107% 1013 106 100% 9 93 100% 8% 106 99 105% 102% 94 814 86% 52 3% 27 1077% 9% 461 8615 £6% 114 8245 &3 103% 100% 86 9 100 96% 84w 1% < 111 . 8% 8 £84 1 3 £4% " BTH g i L 69 50 52 7% 48% 52 112% 106% 8 T4 8o% 8% 931 89% 1185 112% 781 Tl 104 100% 1024 i 62k 6% s6% 80% 108% 101% 98% 92% 106% 101% sk 9% 95 90% 104% 111 38% 98% 95% T8 8% 86 213% 8% 95% 86% Bl 61% % 87 98k 364 91 954 1024 95% 107% 101% 58% 39% 94 88% 100 97 11014 B6o% B8 §93% 79 Bik 824 Holland-American 8 f 63 Jupanese 4s1931.. Japanese 61451954 Jergens Utd Margarine 6s 1947. Lyons 6s 1934 e Marseilles 68 1934. Lyons-Mec s Quecnsland 6s 1947 Queensland 7s 1941 Rio de Janelro 8s 194/ Sao Paulo, State of, 8s 1936 Seine, Dept of, 7s. Serbs Crotes Slovenes 881962, Sweden 6s 1939. . Swiss 5las 1946 . United Kingdom 518192 United Kingdom 6%s 1937.. USTRIAL AND M A r AgriChemical Tigs 1941... Amer Smelt & Ref 1st bs 1947, A%1. Smelt Ist 6s 1942.... Amer Sugar Refining €s 1937 Amer Tel & Tel cl tr 451929, Amer Tel & Tel cl tr 6s 1946 Anaconda Copper 6s 1963 Anaconda Copper cv deb T Armour & Co 4%91939. ... Atlantic Reflning deb 5s 1937 Bell Tel (Pa) ref 6s 1948. Bethlehem Stee? p m bs 1936. . Bethlehem Steel s f 63 1943 Chile Copper 6s 1982. . Cons Coal (Md) 1s ret bs 1950. Cuba Cane Sug cv #eb 8s 1930 Detroit Edison ref os 1940. Du Pont de Nem 7%s 1931... npire Fuel & Gas 7%® 1937 General Electric deb 5s 1952 Goodrich (B F) 6%s 1947, Goodyear Tire 8s 1931. . Goodyear Tire 8s 1941 Humble Oil & Ref 5%s 1932, Indiana Steel 5s 1952. . Inter Mer Marina 6s 1941. Inter Paper bs B 1947, Kelly-Springfield 85 1931 Lackawanna St 5s 1950. Ligsett & Mycrs 6a 1951. . Manati Sugar s f 7%s 1942.. Midvale Steel 551936, . New England Tel 551362 New York Edison 15t 6%s 1841 NY Gas EL H & P bs 19 New York Tel4s 1939 New York Tel 65 1941.. North American Edison 6s 1 Pacific Gas & Elec 5s 1942, Pacific Tel & Tel 5s 1952. Philadelphia Co ref 6s 1944 u ervice 6s 1944. . Sinclair Oil 7s 1937 1004 85 104 104% a1 U S Rubber 7%81930. u eelst5s1963.... Utah Power & Light 63 1844. . Va-Carolina Chem s f 78 1947, Va-Carolina Chem 7%s 37 war. 915 Western Union Tel 6345 1936 ‘Wilson & Co 1st 65 1941 Wilson & Co cv T%s 1931. RAILROAD. Atchison gen €5 1990 Atlantic Coast Line 18 612 Balto & Ohio gold 451943 Balto & Ohlo cv 4%s 1933 Balto & Ohio ref 5s 1995 Balto & Ohio 851929, ..... B&OPittsLE&E W s B & O.Southwn div 3'%4s 1926 Brooklyn-Manhat s f 63 A 1968, Canadian Northern 6125 1946. Canadian Paclfic deb 4s. . Central Pacific 48 1949. - Chesapeake & Ohio cv 4158 1330, Chesapeake & Ohio gn 4145 1992, Chesapeake & Ohlo cv 581946... Chicago & Alton 3%s 19| Chi B & Quincy 1st ref 5s Chi & Bastern 111 gen 58 195 Chi Great Western 45 1969, , Chi M & St Paul cv 415 1932, ChiM & St Paul gen 4%s 19 1 M & St Paul ref 4345 20. t Paul cv 5s 2014. Chi R 1& Pacific ret 4s 193 Chi Union Station 4%s 196: Chi Union Station 635 1963. Chi & Western Ind con 481952 CCC&StLref6sA1929..... Cleveland Term 5%s 1972 Colorado & Southern 4%s Cuba R R 68 1962.... . Delaware & Hudson 5%8 1937. . Den & Rio Grande con 4s 1936. D. & R. G. West bs 195 Detroit United 4%s 1932, Erie 1st con 451996. ... Erle gen lien 45 1996 Erie cv 4s A 19638 Eriecv4sD1963......... . .00 Grand Trunk s f deb 6s1986..... Grand Trunk 78 1940, Great Northern gen 5% s 1953, .. Great Northern gen 75 1936...... Hudson & Manhattan ref 58 1957. Hudson & Manhattan adj 6s 1957 Illinois Central 5%s 1934. Inter Rapid Transit 6s 196 Inter Rapid Transit cv 7s 1933 ireat Nor adj 6s 19563, ansas City Southern 3s 1950, . ansas City Southern bs 19560 hore 4s 1925 hore 43 1931 Louis & Nash unifl Mil Elcc Ry & Lt 1st ref 55°61. ., MStP&SSM64s1931.... Mo Kan & Tex 1st 45 1990.... Mo Kan & Tex 4dj bs 1967. Mo Kan & Tex pr In s A 19 215 Missour) Pacific gen 45 197 Missouri Pacific 65 1949. .., N O Tex & Mex inc 65 1935. . New York Cent deb 45 1934 New York Cent ref imp 58 2013. New York Central deb 6s 1935, New Haven deb 4s 1967 NYNHG&H cvdeb 6s 1948 N Y West & Boston 4% 19 Norfolk & Western con 4s 19! Norfolk & Western cv 6s 1921 Northedn Pacific 35 1947.. Northern Pacific 45 1997. .o Northern Pacific ref imp 68 2047 Ore Short Line ref 4s 1929 Ore Short Line gtd 55 1946, Ore-Wash 1st ref 4s 1961 Pennsylvania gen 4%s 1i Pennsylvania gen bs 1968. Pennsylvania 6%s 1936 Peoria & Eastern inc 48 1 Pere Marquette 1st 58 1950 Reading gen 4s 1997, oons % Rio Grande Western clt 43 194 RIArk &L 4%s 1934, StLIM&SR &G 45 19; St L &San Fran pr in 4 19 4 St L & San Fran pr lp 6s 1950, St L& San Fran 5% B 1942 St L & San Fran adj 6s 1966 St L & San Fran inc 6s 1960, Seaboard Alr Line ref 4s 1958 Seaboard Air Line adj bs 1941 Seaboard Alr Line con 6s 1945 Southern Pacific cv 4s 19 Southern Pacific col 45 Southern Ry gen 4s 195 Southern Ry 1st 65 1994 Southern Ry dev 6%s Third Ave adj 55 1960, Union Pacific st 48 1947.. .. “nion Pacific cv 45 1927... . Virginian Ry 1st 6s 1962 ‘Wabash 18t 531939 . Wabash 5% *76......... Western Maryland 4s 1952. 90% Western Pacific 884 884 831 831 98% 93% 99 9% 8473 86% ¥bls 85% 106 106% 110% 111 % T8% 104% 106 1128% 112% 96 6 102 89 894 88% 884 103% 104 102% 106% 1174 118 107% 107% CELLANEOUS. 102% 103'% 98% 8% 7 107% 108 103% 103 977 97'% 102 102% 101 101 1017 102 89 89% 99% 997, 103 103 . gs 98 4% 95% 107% 108 834% 83y 100 100% 107% 1084 107% 108 103% 104 105% 105% 106 106% 1095 109% 120% 12 102 102 102% 103% 884 8S% 9% 94 1004 101 93% 934 100is 100% 100% 1007 927 934 100% 102 1164% 116% 104% 104 971 98 1077 108% . 102% 102% 98 99 9815 99 1047 104% 99% 99%% 94 9¢ 114 17 1056 105 991 994 10315 104 88% 894 106% 106% 1057 106% 9T 99 974 9uY 4% 70% 112 99% 695 92 93% 98% 9474 90% 108% 103 B9 891 99% 99% B84 89% 1184 118% 80 80% 8913 90 97 984% 92 914 1064 10714 53 584 10214 1024 6 764 67% 66l 52 2% 8 87 5i% 52 52 527 110% 110% 78 T84 5 894 h 94 1174 118 82 831 1081 104 1075 107 95% 96% 87% 88 10234 10215 85 86 594 69% 81 . 91 2% 124 €81 64 67 664 2% T2ls 1084 108% . 116% 117 102% 102 109% 110% 92 98 6% 76 108 108% 1 39% 24 29% - 100t 1017 9T% 9T 6% 674 95% 954 Cblic WesLShare 1ol 4823 lesiscsnans—86x, - 88 83t 98% 984 84% 85 106 1104 TT% 104% B8 834 9315 994 84% 85 106% 11t 8% 106 12% 96 101% 89% 884 104 104 117% 107% 108% 98% 71 108 110% 37 94k 994 100% 101% 97 66% 4% 1024 9744 1024 1005 102 ing fraternity that was impossible a | few years ago. 135 at Bankers’ At a get-together Tuesday evening at the Columbia' Country Club there were 135 men present, all, with the exception of perhaps four or five, senior and junior local bank officials. Guests of the oc- casion included Gen. Lord, director of the budget, who made the only long address of the evening; Fifth Regional District Bank Examiner Rorebeck, the local examiner, with three assist ant examiners; Carter B. Keene, and a few others. In any large city a few years ago it would have been impossible to have brought together in social intercourse ¢ bank presidents as attended y's diner, unless, perchance. there had been the prospect of a cadaver on the table for dissection in the shape of a banking institution in trouble, with good picking in the form of husiness on its bones. Bankers doing business in adjacent buildings or in the same block rarely met in a friendly way save at clearing house meetings or at discussions of policy Involving the most important business matters. Sweeping Changes Noted. In the good old days if one banker was unfortunate enough to be stung in making a loan, he kept it to him- self as a matter of pride, not untinged with the hope that his neighbor might be bitten in the same manner, refusing to put out a red light of warning, as our bankers are doing to- day when they deem it necessary. Jealousy was rampant and no efforts were put forth to aid a crumbling institution, even though it was evi- dently worth the ing. Bankers came together to avert calamit they came in the emerg- ency of panic to dis means for avoidance gathered around a nahog: before and after the impending de- struction of some biz i paring to meet the could. And they thered call of the clearing house on the ap- pearance of any danger signal. Midweek Luncheons Useful. In this city every Wednesday 20 or more local bankers meet around the luncheon board every Wednesday This custom grew out of the occ sional luncheons of the general com- mittee of the 1924 convention. held at White Sulphur Springs, and has proved so useful that it was made a permanent feature, the attendance growing weekly. The president of the association usually presides, in his absence one of the vice presidents, and there are present several bank presidents, vice presidents and other officials. Of late the savings banks, which have heretofore not been repre- sented at the weekly have sent - their represen more freely. At a recent luncheon there were present officials of the Security Sav- ings and Commercial. Bank of Com- merce and Savings, the United States Savings, Washington Savings, North- east Savings. McLachlen Savings and Citizens’ Savings Banks. and also of the Second National, Lincoln Nation- al, District National, Riggs National. Federal-American National, National Metropolitan, Farmers and Mechanics’ National, Liberty National and the Columbia National Banks. Of the trust companies, only the Merchants' Bank and Trust Co. Washington loan and Trust, and the Munsey Trust Co. were represented Mutual Aid Growing. Representatives of these institutions have met week after week, greeting each other cordially, have exchanged not only the compliments of the day. but have repeated the story of every effort to obtain money from their banks by fraud, have given the names and firm titles of bad checks makers, of schemers trying to do business sole- ly for the purpose of perpetrating fraud and in this way have given pro- Meeting. meeting last itives tection to each other They have discussed matters of pol- jey in the conduct of the banking business, in connection with the af- fairs of the District Bankers' Asso- clation, and have been of the great- est assistance to Victor B. Deyber, the excellent president of the organiza- tion, whose term of office will soon expire, and who has made a most en- viable record for himself during his year as chief executive of the organi zation. Helpful to Association. These luncheons are helpful to the District Bankers' Association inmore Wways than one, just as the efforts of 20 bankers at the solution of a prob- lem are better than one. Each repre- sentative of a member bank is en- thusiastic in trying to be helpful and they give their best efforts to the success of their organization. Just now they are engaged in boosting the next convention of the association, which meets at ot Springs, Va., June , 27 and 28, and at which 200 bankers and their guests will be present. At this convention there will be but one address delivered. Repre- sentative Mclkadden, chairman of the House banking and currency com- mittee in the last Congress, and probably the next, will again explain at length the various features of his now-celebrated bill for the amend- ment of the national banking act, which has been passed ‘in the House, but which will have to be reintro- duced in the next session. General Aims of Bill. In a general way this bill gives to the national banks privileges now en- joyed by trust companies and State institutions, and is designed to en- courage National banks as well as to bring in State banks, too, and by so doing uphold the Federal Reserve system, now recognized as a boon to the entire country, an eradicator of panics and of money stringencies, 110 Jess than of tightness and emergency in the United States Treasur: There will be three prize essays on banking subjects by students in the Washington Chapter of the American | Institute of Banking. Otherwise the entire time of the various business sessions will be taken up in the discussion of local bank- ing problems—matters of vital inter- est to local bankers. Soclal features will include the usual golf tournament, swimming, putting, bridge and other contests for ladies only, and the usual family dinner on Saturday night. with entertainment features of a high order. Gen. Lord’s Address. ticlan in those days who was a recog- nized authority on all matters per- taining to yield of crops, visible sup-| ply, stocks in elevators and on storage | elsewhere—in fact, his memory was 80 | wonderful that he seemed able to| carry figures in millions as readily as the ordinary person would units under five. Figures Bit Startling. “The visible supply of wheat,” he| would say, “in 1879, including ‘on was 235,000,000 bush L while the ‘“crop of that year vielded 516,722,000 bushels,” or figure: of like numerals. “Last year we raised 46,272,719 bushels of oats Finally some one asked him how it was that he had such a wonderful memory. “Oh. I just swered. why wonde This is not an insinuation that Gen. | Lord was doing the same thing, by any means. Following his college days, Gen. Lord kept a personal budget and has maintained the practice ever since. As he smokes very good cigars, he must be in the habit of making many en tries of “25c.”” He probably forces a balance occasionally also, for he is married man. Railway Common 123%;. This was the story of the action in Friday's local market. Reading it for-| ward and backward, one must forget anything about the unpald dividends on” the common shares in the lean vears, must concede that the 261 per | cent may be overpaid and that the| common-stock holders are likely to re-| ceive a dividend from the escrow | money that will not leave very much of it in the Treasury after the dis- tribution. By the same line of reasoning the theory that there will be anything for the preferred shareholders doesn't 100k as if it would pan out Nejther do merger projects look quite as promising as they did a few weeks ago. while electricity grows more valuable as an income producer. guess at it,” he an No one knows any better, s0 not make them sit' up and| BALTIMORE PRODUCE. BALTIMORE. May 30.—Native and nearby strawberries are bringing higher prices on the local market to- day than for several vears. Anne Arundel berries brought 25 cents a box today while Eastern Shore Mary- land and Virginia stock sold as high as 20 cents. While these prices were for fancy berries, even ordinary stock is bringing good prices. the packers paying from 12 to 15 cents a quart, which is about cents over the average values at this time of the vear. The consumptive demand is good and fancy, firm berries meet with ready sale at top prices. Stock should not be held, however, as only first quality fruit will bring top values. Asparagus from nearby points in light receipt and native stock brings 3.00 and 4.00 a dozen, while Virginia sells mostly 3.00 to 3.60; No. 2 stock and culls, however, will not bring over 1.50 and 2.00. Peas are increasing in receipt and as a consequence the market rules lower with a consider- able proportion of the daily receipts §0ing to the packers at the lower values of 1.50 to 2.00 a bushe! for telephones and 1.00 to 1.50 for small. Other seasonable vegetables in fairly good demand at the following quota- tions: Cabbage, 1.25 hamper; kale, 15 to bushel; lettuce. 25 to 75 bushel; pring onions, 1.25 ta 1.75 per hun- red; radishes, 1.00 and 2.00 hundred; rhubarb, 3.00 and 4.00 hundred, and spinach, 25 to 50 bushel. New white potatoes have the call now and as a consequence market for old stock rules easy and only fair demand for well graded stock at 1.00 to 1.25 per 100 pounds, while No. 25 and culls are not wanted at any price The local egg market rules firm under only fair receipts the past week and a good consumptive de- mand. Offerings on the local ex- change have found ready buyers and the market closed firm today at 31 to 314 cents a dozen for native and nearby firsts in free cases, an ad- JAMES F. SHEA 643 Louisiana Ave. NW. HOME OWNERS Can Secure Up to THREE DAYS 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, tending over a period of Thirty-Five Years —insurés your protection. Percy H. Russell Co. 926 15th St. NW. Quick, Courteous Action Money to Loan en 1st, “nd and 5rd Trosts Monex Advanced for Pasment of Tuzes Moner Loaned for_Individual and Corporate District Loan Procurement Company 219-223 Kellogg Bldg., 1422 F _Tel. Main §070 MONEY TO LOAN Mortg —on First 1ges on improved property in Washington. Cur- rent rates. Prompt service. SHANNON 713 & 715 14th St. NW. Main 2345 7% means $70 a year vance of 2 cents over opening prices Prompt and frequent ship- ments are necessary to bring top values, however, as all held stock moves slow and has to be sold at a discount. The general live poulty market rules steady under a good demand but centered on large, fat stock of all kinds. Shipments of small fowl, especially Spring chickens, not advis. able, as they tend to lower the value of the better stock. Large Spring chickens, 2 pounds and over, meet with ready sale at [0 cents a pound, 1% to 1% pounds 40 to 45, while smaller sell at 35 to 33. Leghorns Springers will not bring over 35 to 40 and small 25 to 30. Medium to large old hens in fairly good demand at 25 to 28 and 25 and 24 for small and leghorns. Old ducks are mostly in poor con- dition and not much demand at 1% to 22, while small stock is neglected at 15 and 16. Some inquiry noted for young ducks and all arrivals averag- ing 3 pounds and over meet with ready sale at 30. Demand for guinea fowle and pigeons slow at 50 to 75 each for the former and 35 and 40 a pair for the latter. —— Bourse Closes Tomorrow. PARIS, May 30 (#).—The Paris Bourse will be closed Monday, June 1. IS A The world deals good-naturedly with good-natured people. Excellent opport —at Gen. Lord, director of the budget, gave the bankers some examples of on $1,000 OU can obtain this return on a $1,000 Smith Bond, or a proportionate returnon thesmall- er denominations of $500 and $100, with the proven safety evidenced by our record of no loss to any investor in 52 years. ‘These 7% First Mortgage Bonds arestronglysecured by improved, income-producing city property, and, through serial maturies, the margin of security for investors is constantly being increased. You may invest for any period from 2 to 15 years. No deposit is required on bonds reserved now for July delivery. Mail the coupon for descriptive dirculars. The F. H. Smith Co. Founded 1873 No Los to Any Investor in 52 Years Smith Building, 815 Fifteenth St. THE F.H. SMITH COMPANY Smith Building, Washington, D. C. ' Pl:.tfl: gendoldl-crl7” Dnluo' your current offerings irst Mortga Bonds to: o Name Florida Acreage unity for investors interested in Florida Farm Lands. Large and Small Tracts prices which insure the pur- chaser big profits and rapid turnover. A. Burks Summers Special Representative Hotel Willard ‘Washington, D. C. Sunday 3 PM.—7 P.M. AMPLE FUNDS For Large Loans 514% - On Improved Property in the District of Columbia WEAVER BROS. 735 15th Street N.W. Main 1821 E 5 ? R R % ! S The New York Life Insurance Compan pary Offers to Mak ge Loans First g on Improved Real Estale In the Mortga District of Columbia and Suburbs for 3, 5 or 10 Year Periods Houses Business Properties 5v%% ON APPROVED SECURITY Apartment Office Buildings REREELYRINERERN NN RRYRE R R R Appls RAaNDALL H. HAGNER & COMPANTY MoRTGAGE Loas Gorm o oAer321 lé,mnec&w[ Trenue, SRR ’1 MAKES YOU A SAVINGS JEPOSITOR PAID ON SAVINGS ACCOUNT: vational Bank in the Cuy Your Success and Ours {iWhatever the extent of your dealings with us, in serv- ing you there is constantly before us the fact that you and we have a very definite community of interest. Our success is bound up in yours. fiCount upon our co-operation, then, to the fullest war- ranted extent, whether you are a commercial customer, or a Pay-day depositor striving to save up a competence. _ OPEN Until 5:30 P.M. TOMORROW LIS OFFICERS E W. WHITE . P. JOHNSON DERICK DeC. FAUST.. P. HOLLINGSWORTH . F. JACOBSEN. HAS. E. BRIGHT. LBERT H. BEDFORD . LOUIS ECKLOFF... GALES MOORE. N DIRECTORS: C. F. R. OGILBY FRANK. P. REESIDE HUGH REILLY E. FRANCIS RIGGS WM. H. SAUNDERS HERBERT T. SHANNON H. C. SHERIDAN THOS. SOMERVILLE WALTER R. TUCKERMAN JOHN C. WEEDON - TOWNLEY A McKEE HENRY A. WILLARD, 2nd. Ceol. ARTHUR A. O'BRIEN W. A. WIMSATT GEORGE W. WHITE National Metropolitan s Bank Capital, Surplus & Undivided. Profits Over $1,800,000.00 15th St., Opposite U. S. Treasury President Vice President Trust Officer Asst, Trust Officer . Cashier Cashier Cashier Cashier Auditor Asst. * Asst. Asst. ARTHUR T. BRICE ..WALTER BROWNLEY FREDERICK DeC. FAUST WM. F. GUDE CHARLES JACOBSEN 0. H. P. JOHNSON RUDOLPH KAUFFMANN Dr. J. THOS. KELLY, Jr. Maj. HENRY LEONARD A. LISNER 111 Years Old . READREIMLATR AR