Evening Star Newspaper, June 13, 1925, Page 23

TINANCIAT, INANCIAT.: STAR, WASHINGTON, D. C., 'MUSSOLINI TO BOOST MARYLAND HARVESTS LOANS PROCURED TRENU IN REMS NEW YORK CURB MARKET | . raiy's raIN ouTPUT| TO BE ABOUT NORMAL';..:!"'".;‘: puxment of Received by Private Wire Direct to The Star Office your i vid finaneing. i | Hopes to Raise Value of Lira by Apples. Peaches and Pears Not So ! BY WILLIAM F. HEFFERNAN. rouncement that the Standard of Cal Stopping Present Grain | Promising—Grain Crops May NEW YORK. June 13.—The usual|ifornia had contracted to develop ap { ‘m (0 us. cek end evening-up of accounts | proximately 56,000 acres of ]\'erfizue Imports. Offset Losses. Iserved to hold the upward movement | lan petroleum property in the Mara ¢ SRR G e {in check for a time in the early curb |caibo Basin resulted in a demand for "‘P'h*\‘\l:*-'llw"-lf".‘m ‘“xfi’\mn»l(\e‘sxI‘,zv';n],'“;rhol'n.. '-‘:“ll ‘f“'_l_ . but when selling was | the latter. just above the 4 level YOME, June 13. s s adttivel ol THE EVENING SATURDAY, JUNE 25, 4 il Bring inl prob District Loan Procuremer* Company 219-223 Ke'lorg Bldg,, 1422 F k\'\‘\f W. The Prudence Company, Inc. of New York Invites Applications for More Cuts Than Advances Increase of Ttaly's Construction Loans Noted in 225 Cities—Rapid Move to Suburbs. BY C Specia NEW YORK n wi will rai in a lar cities ha stable b, by the Estate | stationa fac ctation th rent proportic led to a st of = cially 1 er spre: ROYLE. tential r of ants in | © landlord it the Tatte 15 American | ationary Hn\" invassed | i Real | Wt report ) 8 per cent nward able in 1otice iation he Depart bound city and End. of dwell-| subu cha th Rent Scales Vary ( is approxim In cities « populat centers he he tants t Multiple even wider L room & ations in the the big the an range. the smaller towns. in ments room range is from ‘TEW NOTA Comn 5,000,000 Himore A series due ily dwell- | v & down n tow is re ave in cities of | Approxi room eatly. n some W pop P to is S8, cities t heap ght. 1925, OFFE XING SOON. w BACK DIVIDEND VOTED. NEW Good of Canada per cent he prefer the final quarter of 1921 cumulations. and also quarterly ursement cent YORF Tire and declar ZINC OUTPUT D NEW YORK world’s out clined to S%.7 in March Metal Statisties reports output in the United tons, and in Canada world's ste ne on placed at ns tons the month before June Zine { tons DIVIDEND CUT AGAIN. quarterly Co.. cotion Mass., yesterday from $7.50. payable .J to three months been $10 quarterly YORK. June 1 dividend of 1l operator: ) The,| Litd end of 13 stock for toward ROPS. P April de- | from 94,875 Burean « he May es was 4 2,651. The May 1 were 3 3 (P)—The Appleton | at Lowell. | was cut |in | good profit { with the rising | | oil ana HUMBLE OIL GETS LEASE NEW YORK 0il has leased a wildcat well on ranch in Crockett Angelo, Tex., for $300.000 was cash be paid in cre: Count £1.400.0 The oil royalties ®) the L. Humble surrounding | P. Powell v. near San f which nee will SHORT-TERM SECURITIES. (Quotations furnished by Associated Ol 63 Baltimore & Ohio 6. Bethlebem Stecl 5, Central of Georgl Chi.. Mil. & St Chi R I & City' of Lyons s 14 Colvm. G Continental G u_Pont B ‘nderal ederated Metals Great gulf O Corp. Pa. 5l 1 ock. Val. R. R umble Oil 5 Lenigh Pow e Penna R Pure Ol 51 1 Rulboe Yestern Union, IWeatinghouse ¥ &M e Redmond & Co.) | the same as that in oil, 101 14 10913 109 % Ohio, { | trade are | more and more freely | the Towest | corporation, 1 the market started forward in with pr: Ally all groups shar ing in the improvement Ofl shares bought in large vol mble 2. and | up 4 points acros an BONDS thonsands Hig Atlied Pack ¢ 3 vt s i 100 : Vacuum Ol 7 Webster Mill FOREIGN 5 Alpine Mont Gity ot 13 Krupp Fried L Mix Bank STANDARD OIL - ) An, 0 Am On Gal Siz Sal § O P L mp 0 Ol it 1w R I Can s 74008 O th Pern Ol 4 361 161, aral a8y OIL STOCKS 5 A 11 An 1 Ark Maracaibo © Control OF Nat Gas v Synd } Pennock O Col 1 Reuter Fos O 5 Red Bank Ol ! Roy Can 0 & R r Con nczuelan Pet 6 Wil Ol & G new 70 Woodley Pet Oil Shares and Sharp Rally w 33 1015 08 BY STUAR Dispatch NEW n of P, to The Sta YORK. June 13.—The situa- the stock exchange underwent orable turn toward the middle of | the past week. and higher prices with v busing volume character ed the closing days. This forward nmovement was built chiefly around the oil es and the motors brought about some recove where, else- It may be that the buying will be extended in due course to other| groups, but for the present the mar ket is partial to stock It is not 0 keen which are not in so good | changed if the Interstate Commerce | | a position. ere to unqualifiedly ap. | Consumption Outstrips Output. Authoritative figures on the oil not available up to a recent date. But the best judgment is that while output is eithe tanding still or slightly receding. consumption has been steadily growing. The conelu- sion evervwhere drawn is that for quite while past demand been running ahead of new supply, so that reserves of oil must be drawn upon in order to re. store the halance. These reserves last Summer and Autumn when oil prices were low consequently the companies which have large amounts storage will be able to sell at a This consideration, along both for crude refined. has nearly caused a upward of oil share valua- tions. The expectation is that change has been sufficiently pro. nounced to warrant a more liberal pel- icy regarding dividends as the year goes on, Copper Trade Improved. The copper trade has much the same status as the oll trade. The ifference is that no concerted effort heen made to curtail ofl produc. s there has been to curtall pro. ion of copper But the result were accumulated revision ion in copper has been namely after a long period of over-production, with unprofitable prices. output has fallen below consumption and sur plus supplies have been coming down. They are reported at present to be in two years. Predictions of a copper price advance, therefore, have some solid foundation. Steel Industry Lags. The trouble with the steel indusiry still is the unsatisfactory margin of selling prices over cost. This has not hit the United States Steel Cor- poration, with its superior facilities, so hard. Despite the decrease of some $00.000 tons in unfilled orders, <ing April and May together, the according to reliable in- formation. will have a comfortable <urpius after dividends for the second quarte The sz tha ne cannot be independent stee s will almost certainly 12 rease In earnings for ond three montha. These Y § which was obviously of a sym- | | pathetic sort. s representing | industries which are in a particularly | the | that | safely predicted | Master | of the radio group. gainin: |The upward movement in | ¥tocks zained further headway. Continental and Grennan issues vorites. INDU Adirond Pow HAm Gas & Music 2 points. baking with fa TRIALS perpow B c Co_pfd Gult G C 80 i Bord & C new 26 Bord & C rtx 1 Rernard Seh Cig A 1 Brit-Am “Tob_cou land Auto. 18 Gt 11 Gien 3 Goods Grennan 18 Intl Cont) Rub Jones Radio 19 Kelvinator Co 31 Leh Pow sec vt I Leh Val Coal Le c N Mense Mid West Util Mid W Uul pfd Mid W Tt pf In 1 Mid Wt rts Motion Pic €an ( usic Master ( at Pow & Lt 0 Pow ( R Pat t Penn Wat Pow ( X Pow Corn of NY 14 Purity Bak & Rem Noisel 7 150 80 1 Sou 1 Sou i Swift Talk Mach Bro« P 10 Chino 7 Cresson Gold A i First ThoughtGM horne M 1 Mine Copper ¢ Mason Vil 16 Nipiseing 10 Parmac Por M Lt 10 Reorgan Diy’ An 1 10 & P Utah Apex 0 Wenden Copper SCOUTS RATE CUTS. KANSAS CITY, June 13 (Special). No immediate reauction in railroad freight rates can be expected if the eling public o patronize motor busses and truck n preference to rail lines, accordinz W. Baldwin. president of the Mi ouri Pacific The Tibetans have a days. named after iron feathers and earth Motors Start week wood. in Stock M arket‘ S0 far the latest advance in stock has not included the rails. Some of them during the last week either | made new lows for the year or closely approached these lows while the buy = was liveliest in other sections. Ohe explanation is that holde: tired of lugging railway stocks. have thrown them over to buy other things. that the latest earnings statements have not as a rule been up to ex- | pectations. Still another is that ideas | held last Winter as to the effect of | railway consolidations upon stock | prices” are discovered to have been too enthusiastic. It is conceivable toward the rails might that sentiment be abruptly Commission prove the Nickel -Plate merger and | still more so if it consented to the ap plication which is now before it for an advance in freight rates on the Northwestern roads. These are two Inatters of much importance for the | railway outlook. Decline in Wheat. The country was not startled by the Government wheat figures estimating a crop of only 661,000,000 bushels, a falling off of 212,000,000 from a vear ago and the lowest forecast since 11917, Neither was it disturbed by the accompanying statement that there would be little or no wheat available for export Wheat prices actually broke some 7 to 8 cents a bushel on the four days following the report. The reason lay in the evidence that Europe and Can- ada between them would have enough larger yvield this year to offset the deficiency in the United States. Bonds Very Strong. The investment market continues to show great vitality, with new high |record prices for United States Gov. ernment bonds, and with a ready over- subscription for the $50,000,000 Bel- glan issue which was brought out on | Friday. The new Treasury financing of i | short-term notes on a 3 per cent bas ~the lowest for all time—has not as vet brought a reduction either in Federal reserve discounts or in open market rates. But it has supported the view of the present easy money conditions continuing, and in this way has been a stimulating influence in in- vestment channels. Exchange Trends Mixed. The two most striking occurrences abroad have been the continued gain in gold by the Bank of England, which has increased its holdings more than $6.000,000 since the restoration to the gold basis in the last week of April, and second, the failure of the French franc to keep on with its rescovery in face of the threat that the American loan of a4 year ago was going to be used to punish the short interest. | The opponents of British resumption of gold payments have certainly been proved much in the wrong. As for | France, reassuring statemen gard the finances are no longer credited 1y as they used to be. (Copyright, 1923.) furnished the feature nd shippers continue | of five water speculative | Another explanation is | is the task undertaken Mussolini. This, he Ttaly's major prob. lems, and if it could be solved the necessity for importing grain would ibe eliminated and one of the prin al causes of the low value of the Ii would be removed Mussolini announced he come n agricultural P\IIM'I ceiving a group of asked that provisions be made fo in crease Ttalian harvest He said he would nme control as soon ible in battle. The . he ltalian exc has resuited primarily from the importation of grain during the curent year. Mussolini said. Comment ing on the premier's new venture Tribuna says he increase of the wheat such an extent as to free ours rom the need of foreign grain is not less Importan our economic and winefal exister than wasz sub. iption to war loans.” B!G STEEL MERGER | NEAR IN PITTSBURGH NEW YORK. June 13 (P).— Acqui sition of the Piitshur=zh Steel Produc by the Plttshurzh Steel Co @ proposed by the latter's divectors (o day in a letter xent o its stockholder The plans call an_increase of ).000.000 in the Pittshurgh Steel < capital stock RAW SILK HIGHER. Cloth Ends With Unchanged Special Dispatch o T NEW YORK zoods markets cl Iv. with no price changes o ere | corded. The print cloths were stead) at 91, cents for 64xA0s and 10 cents for 68x Raw silks took # spurt forward gaining 15 cents a pound to v top of £6.50 for XX 2 denie on active trading YARN INDU.STRY DULL. Being Held Down Actual Sale grain output by Premier today, is one of as po: rese al s Cotton Prices June 13.—Cotton A the week quiet- Production to | ASTONIA, N. « No change was noted durin veek in the dull market hat have marked Gaston otton yarn industry for the month Spinners | cision cond unty's de de remain firm their curtail produ n iveries are completed and cum no excess Surveys made recently | than one and one-quarter varn to the spindle of stock varn on hand CURB SEAT BRINGS $13.000. NEW YORK, 13 P~ A new ihigh price of §13 was paid for membership on the New York Curh Market vesterday by De Courcy L. avlor. $500 above the previous trans. jaction Feveal less pounds of the unused Query the Promoter. Determine how much of his own | money the promoter is putting into bhis scheme before vou decide to risk yours. Don't take his word for it— nake him prove It. said | | here L two of the I Conditio 8 nd pears are en as half of the five.y S, Denne United States agricultural statistician how than All grain ever the STRIKERS SEE VICTORY. Expect Soon to Get Wage Increases at Baitimore. except whe: to be b BALTIMORE. June 1 Luilders refus greements calling for wage it the Brotherhood Carpen sonsiders it has its strike won Approsimately 500 men are the holding out of these two firm: Lut agzents for the siril nearly Al th men have placed i work the automobile track rel With onh sign for $4.40 -arpenters sk wagze or 10 week beinz paid €1 2 ing hour oy "hey N hour are en LUDLU‘VI STEEL'S REPORT. ) neome months Ludlam $132.429 net YORIK <t reports the first to $1.10 st 1are in the sam asset 2 ual 1ins 108, or W current net workir FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOL e e WE FINANCE of fncome-prodicing praperts President —all el Large Loans a Specialty and comuission Current in Higbie & Richardson, Inc. N6 15th SG N.W. Money to Loan i estate of trust o Joseph L Weller Promo: First Mortgage Loans Loweat Rates of Interest and Comuiisso Thomar J. Fisher & Company. T8 13th Street AMERICAN TELEPHONE & TELEGRAPH CO. 112rd Dividend Wasti. L. & Trust Bldz.. 9t & F W Action Inc ' Weitnestas ors o At AIR-SMITH RE 0 O '|l||lillliHHlIlil| Iilltll'Illllfll!l’l]hill\lhll = “Of All the Words of Tongue or Pen” One of the Sweetest [s— “Tis Pay-Day.” | ! June 15th will be one thousands in Washington “nece “n“‘ h | and the nd invest will create comes o at such periods interest return conscience that Don't fail to plan. as you will surely wish v later vears. BEGIN NOW. ! Our FIRST and $10 per month. Then, too, H the full rate of interest. All property our loans in the District | MORT - [SHANNON secured by We will he with literature without charge or ofligation GE INVESTMENT DEPARTMENT Just another round of spending with recreational pleasures which cannot always be aff OR. will thoughtful thrift prompt you to SA\ those “sweet What will it the frequent of days” mean to “legitimat flings rded BI'l and !i!u-m! Ve all at too it where safety and maintain an approving MORTGAGI tion, hecause they are absolutely safe, in denominations to fit any incomc You can start with a $100 note and pav for it with $10 cash these monthly payments all carry provident had those who are IS meet this situa and can be bought NO affecied | l Tunds nd frust 1 your vl nance It in resard to | us for prompt s N. L. Sarsbury Co., Inc. 1418 Eye St. NW. Main 5904 property. . enll We Are Offering 619, First Mortgage Notes Secured on Brick o Kind of invesments i Th, - wed and fust 1! pe enjoyi er have purch the camforts Cafritz Lifetime The superior qualities of tion that appeal home chasers are iikewise o f mind- First Morts Ho, constr of our ge invest Let us show opertu on which all our « . O'Donnell, ¢ D you notes are Mgr tment [ CAFRITZ:COMPANY are d conveni pur; tor in ih. Until 9:00 P.M Phone Serviee 14th and K ! We Write Insurance of All Kinds WHY WORRY? Phoiie us and representative will be zlad to eall and quote I vates and explain our contracts. Insurance Department N. L. Sansbury Co., Inc. 1418 Eye St. N.W. Main 5994 Second Trust Notes has funds for the purchase Linds of second secured on close to company av I trust real DL€ note estate in and Transac ions Cn 713-15 14th St. N.W. Main 3662 Ma'n 9059 Divellings Long-Term Refinancing Amounts of $50,000 and over FRED T SBIT Loan Correspondent Investment Bldg. Main 9392 RIS = ST~ < SRR T The New York Life Insurance Company Offers to Mahe I First on Improved Real Lstate Mortgage Loans RETRR the ORI District of Columbia and Suburbs for 5 or 10 Year Periods Houses Business Properties 5%9% ON APPROVED SECURITY Appls Apartments Office Buildings IRANDALL H. EAG NER & COMPANY N Gon lomm RS DR T TelipilumeNoren 5,00 IRARARARIDRCRREETRR AT Safe Deposit Boves A Vers Rentals wpital and 2.000.000.00 Moderate }a.d aslde. making a living the big there's stll an- book which you should cultivate interest—A BANK BCCK and be- objec- —are comes tive. other n Same Rate of Interest Paid on Large and Small Accounts Cpen Unts1 5:30 P.M. OFFICE Monday and Tuesday s DIRECTORS Savings hingto Cor. 15th und New York Ave. 0sit We supervise all details without charge to the investor first mortgages improved glad to furnish details &. INC 1 713 and 715 Fourteenth Street N.W. i Main 2345 Quarter of a no Century Without a Loss NOTHING TO DO BUT CASH CHECKS i : : That's vour money FIRST MORTGAGES No coupons “dunning” worry. check—promptly ALWAYS. In amounts of $250 and up. F. SAUL CO. 925 . 15th St all there is to it when is in our td clip. No to do. "Best of all, Interest paid by when due— N.W. Accuracy! In the field of sport accuracy is a characteristic toward which many strive but which few suc- ceed in capturing. All the more remarkable then is the record made last year by R. H. McGarrity on the 200-yard rifle range at Camp Perry, Tllinois, when he hit 120 bull's-eyes in succession, firing with a .22 caliber rifle. In the investment field accuracy is no less important. Care in figuring margins of safety, income, expenses and other details of property has made possible the record of Swartzell, Rheem & Hensey Company—56 years without loss to an investor. Accuracy has played a significant part in making this remarkable record. When you next invest, consider this rec- ord, and the fact that our mortgages now yleld 615%. SWARTZELL. RHEEM & HENSEY Co. = Rr~-B%reet, NW — asmggm,nc 56 Years I ithout Loss to An Investor I & PRI RRER R 2 £ € [ E 2