Evening Star Newspaper, September 12, 1925, Page 15

AR, \‘\,'AQHJ NGTON, D. €., SATURDAY, SEP EMBER 12, 1925, FINANCIAL., * STOCK MARKET REACHES HIGHEST 1925 POINT DURING LIVELY WEEK FINANCIAL, THE PRICES HOLD FIRM | I NEW YORK cURB MARKET | Recelved by Private Wire Direct to The Star Office features in the closing nexs AT GENTER MARKET .o o e [ group. EVENING §' BRISK FALL ORDERS . SPURTOBUSINESS | g Long Drought in South Most | Serious Blow to Steady ! RY STUART P. WEST. |the profit margin is a stimbling block 5 . | Special Diapatch to The Star. |18 that of cotton goods. Gains in Industry. | NEW YORK, September 12 During | Cotton Takes Jump. | { the last week prices on the Stock Ex . change have had the largest gain o | COlton manufacturers were just be | any week this year. The average .7INg to pick up under the stimulus e+ g of lower cotton prices, when the unex |rose nearly $1.90, making a total ad 25 S ot 250, i A s e | vance since .the ‘first of January of | Pected Government sstimales o “:"“i NEW YORK, September 12.—-Busi- | $12.60. This along with the largely |, 3" lh, Tarket upward again neas Stepped ot At a brisxer pace i |increased volume of transactions. rep. (Urned the m pward again. it |the last week under the firat touch of | Fesents the 1925 market at the maxi-|T¢MRIng to be seen whel will | cast s damper upon such recovery as | First Mortgag {the spur of Fall demand. But perhaps | ™Um so far reached. had Sppeared In the goods trads the most po! ctor in the industrial| The upward swing Is partly a re.| Notes L comumercial Tines of the country | flection of favorable conditions now| AS 8n influence in Wafl Sirest | was the continued drought in the ! eXisting and partly a forecast that the | Operations, it is difficult to overrate | Donominations of $3r0 and Up— Hoitheeat. | situation fs not likely to be changea 'N® importance of the prospective tax | Aj) poyaily Given P-ompt Attention The Alabama Power (‘0. cut in half | foF &n indefinite while ahead | reduction. This reduction, &s now 15 IMONEY TO LOAN Ist and 2nd Trusts and Construction Loans | Residential amd Business Property ' N. L. SANSBURY CO., INC. | 1418 Eye Bt. N.W. Main 5904 Money to Loan t Secured by first d Presulling Joseph 1. Weller FEDERAL-AMERIAN NATIONAL SANK RESOURCES $14,000,000 125 F Street Jo*N POOLE, President BY WILLIAM F. HEF NAN. !rubbér shares were somewhat quieter, W YORK. September 12 The | but Miller Rubber continued a feature. fon of the| New Mexico and Arlzona Land was were |a feature among the olis, getting up |again in the motor These | fractionally on A large turnover, Medium Fowls and Pork|®ccks continued their upward move- | Latest reports from the property are lnbl;(‘ with the volume of business ex- that a contract has been let for de . - ceedingly large. S Motor crossed | velopment of a large tract in Valencla Loins Cent Higher—Volume In of ‘& polnt. Cleveland |County, N. Mex. The close of Trade Large. |17 for a gain of a point, Cleveland County, N. Mex. The close was firm { Motor ran up a half point or so and | with prices not far from their tops of Baturday trading in Washington's | Fageol gained a like amount. The the day | NEW YORK, September 12.—Fol- {lowlng Is an official list of bonds and | atocks traded in on the New York | Wholesale market district was satis- | 17D Market today €5 : § : Sales In BONDS factory this morning and prices wound | {en'n 5 Up the week with very few changes.| 10 Alleq Pack s The price of medium fowls was a cent higher, and the quotation on | pork Joins was raised from 37 to 38 | cents. Dealers reported a good week's business in spite of the extreme hn\‘} weather. Today's quotations | | Credit, Trade, Earnings Reports, and Auto Gains Are | Factors—Better Dividend Prospects—Cotton Moves Up—OQutlook. | | . | For Investors 7% 13 BY J. C. ROYLE, B Gen Toe 4Gen G & 19 Gillette & Ferr FIRST MORTGAGES FOR SALE Denominations of $250, $500 $750, $1,000 and Upwards 672% All Loans Made on Property Located in the District of Columbia o mseE DR = Pt et - whome = s oz on a3t 8N I T e FREFES 1 Havpiness 1 Hazeltine Corp 1 Hellma: Prod # Inter_Contl Rub, 1 Intl Coner Ind C 3 Int Mateh of 13 Intl Utli B ohns Manssiile poes Radio 96 10 103 934 90 o e e 10 Aihed Pack 8s 18 Today's Wholesale Prices. 12 Am Gan & Butter -Fancy prints, 34 Am Pow & Ta B 2 Anaconda - Gs 18 Store packed. 35 Eggs—Fancy, Amo G & E 0n 1 Amo Sim I 6 31 AU GEW 18 8 B 8Bl T Can 18 Beih average receipls Poultry -Alive large, 31832 small 28; medium towls, 25 ducks, 15: keats. 40aT5 geese, 12a15. Dressed ens, large, 32; small, 32; ducks, 20; geese. 1213 Live stock Calves. llai2iy Spring, 14; hogs. 13133 Meal Beef. 20; veal largbs, 30: hogs, ?la2 smoked shoulders Fruit and Vegetable Review. Today’'s market report on fruits and vegeiables (compliled by the Market News Service Bureau of Agricultural ¥eonomics) said Apples — Supplies slow. marker weak Marvland and Virginia tles. 1.00a1.50: poorer Cabbage— Supplies ynand light. market steady bulk, per ewt., domestic 1.7522.00 Cantaloupes mand good. warket steady mon tinis, fats. 12s and 1.25: jumbo 8s, 98 and 1 moatly 1.25: standards. 365 and 45s 3.0023.50 mbo 36s and 4is. 3.50a 4.00: Nevada. Hearts of Gold, stand ards, 368 and 458, 3.00a3.50. jumbos. 27= and 36s, 3.50a4.00: flais. 128 and . 1.25a1.35: Honey Dews, standard crates, 2.00a2.25. tub, 52; 54 selected, 37a 3 pring 31. heavy candled, L1 chickens, fowls turkeys, pring chi turkeys, 28 lambs. 19: Spring loins, 38 liberal: demand bushel baskets, various varie moderate: de. New YVork ¢ round type. Supplies moderate: de 158, 1.008 1.26a1.50 Grape Demand Light. Grapes Supplies moderate Nght, market dull; Delaware climax baskets Concords, wasty 90; New Yor 2.aqt baskets Concords 8. Delawares, 23a25, Lettuce Eastern demand slow, market dull wide range quality and doz. crates Big Bosion type, best 5. poorer, 50: Colorado, crates erg type, 3-5 doz. few sales 3.50a4.00, ir condition, 3.00. Onions—Supplies moderate; demand 1ight, market dull. New Yor and ‘Massachusetts, 100-1b. sacks Yellows, T'nited States No. 1, .2.75a3.00. Peaches—Supplies light: demand moderate, market steady; New York, hushel b Rochesters. medium size, best, 3.50: fair condition, 2.50a 3.00; Ohlo, bushel baskets, Elbertas, AA grade, 4.00a450; A grade, 3.50a 4.00: B grade New Jersey, bushe| haskets, Morris, practically no de mand. demand 2-qt some supplies liberal New York condition, 2 65a 1ce. best, Potato Market Steady upplies moderate market steady: New bushel baskets, Bartletts Seckels, No. 1. 2.50a3.00 Potatoes—Supplies light: demand good, market steady; Maine and New Jersey, 150-pound sacks, Irish Cob. blers, U. 8. No. 1, 4.00; Pennsylvania 150-pound sacks, round whites, U. S No. 1, «emand York Pears light Rweet Potatoes—Supplies very light: | alightly | stronger; Virginia, East Shore, cioth | top stave barrels, Yellows, No. 1, 4.25 | demand moderate, market a4.50. Tomatoes — Homegrown receipts moderate; demand light, market steady; homegrown, ! bushel ham pers. 50. Cucumbers- light, market steady el baskets, 1.50. Caulifiower—Suplies light: moderate, market slightly New York, crates, best, poorer, 1.00 Damsons— Suplies moderate; dsmand light, market steady; New York % bushel baskets, 1.00a1.15 BA{TIMORE PRODUCE. BALTIMORE. Md., September 12 Spring chickens, pound, 25a32; Leg horns, 20a28; old hens, 20a30: Leg horns. 20a22; roosters, 16a17; ducks, 20a24; pigeons. palr, 25a30; gulnea , each 70aR0. Receipts, nearby 8 Supplies light demand stronger; 642 dozen, cases; mative nnd offered at 84235 Butter - Good to pound, 43a48: prints 89: store packed, 35a37; fancy 48a50 a36; dairy prints butter, creamery 37; rolls, process 42a43 No grain quotations Jogal holiday DAIRY PRODUCTS. BALTIMORE, Md., {Speciall-—New potatoes, 100-pound sacks, 76a2.00. Beans, bushel, 85a80. Beets, 100. 1.50a2.50. Sweet potatoes, Yarrel, 1.504.00. Yams, 1.50a3.50. Carrots, 100, 3.00a5.00. Cabbage, 100, 3.00a5.00. Celery, crate, torn, dozen, 10a25. Cucumbers, bas- ket, 35a40. Eggplants, basket, 25a30. Onfons, per 100 pounds. 1.26a2.76 J.ettuce, crate, 50a3.00. Lima beans, bushel, 40a75. Squash. basket, 15825, Tomatoes, hamper, 25a35; packing- house stock. bushel. 25a50. barrel, 1.00a3.50; bushel, 50a bushel, 3.0024.50; bas- Cantaloupes, basket, each, 10a40. Market closed September 12 1.00a2.00 25a75. Watermelons, Pears, bushel, 1.00a3.25. CHICAGO STOCK MARKET. CHICAGO, September 12.—Follow- lflg is a report of today's sales, high, ow and cloging quotations at the Chi- cago Stock Exchange o High. wes PEES A Amer Rad. . 20 10 Am_Shipbldg pfd 100 125 Armour A 900 Auburn Motor 295 Armour ra 2600 Balaban & Katz. 400Chi N S M RR_© 50 Chi Tit & Tr Ris 40 Commonwith Fx 500 Consumers Co 200 Consumers pfd. 2 Gamaom B PR T 300 Gossard H W [ 3 1880 Great L Drodga’ 1 2700 Hupp Motor. . 00 Kraft Cheese 0 Libby MeNeil M TP L e 101 Mid Steel Prod Mid West Titil Mid Weat Ut 800 Mootgomers 300 Nat El Pow C 375 Pines Wintertr. . 850 Real Silk £200 Stewart Warner. 850 Switt & Co muL“,‘. L & Carb 25 U paum 50 Uil pow & Li B 10 Wani .. r(»fl Wrigley gOVn!el Part Slow . 3 otal sains. 33,000 shares. +_ Vanilla beans, so vital to ice cream Bnd moda dispensers. figured in an gnternational trade dispute this Sum- kner when American and French im orters and extract manufacturers a pries @iffevence with Peru; bt Duames 2 5 0 ¥ 2o P2 RERERE53 SR 0% = 3 2 ] 1 1 1 2 S 0 ) " © wai0o =8 s agmians o B e &N RF K P Pttt et el small fowls, 22| 25: Colorado, | climax | too few sales reported to quote. | { demand | New York, bush- | 1.5022.00; | ladles, 3%a | 2.00a2.50. | " | $310.000,000 in | 11 C Bal Cuba Co N J t City Gas 6 Edison d 1 Fed Sugar s 9 Gen Tee Cr Glys 5Gen Pet G w 10 Lig-Wineh R 8 Long Tsland Lt 15 M s Low Ta n' Cem 6154 tatew I Gign dal Osawe R '3 SRUb 074 i 3R Gas > 894 T H S Tnd Bi2e d S Rub 6,8 | S Rub 67, " 8 Rub 61ils e Ol % YOR \ 8G1 Cons B 1 Fungarian ¢ 21nd N B Fald 11 Kem_ Deamk 51y |1 Xe Neth'8 3478 3 Rrupp Fried I, 7s 1M 8 Denmi 6a { Muni Medellin &y 10613 015 008 08 Santa Fe s 93 Gotn blyan 13 & H: a5 Sales in unite 100 Atlanti, 60 Borne S 4400 Cont Ol _new 100 Humbls O & R 200 Imp Oil of Can 0 1900 Int Pet Co Ltd 200 Nat Transit | 7800 Prairie 0 & G'n 220 Prairie P L 0 S0 Penn Oil 32008 O Indiana 1600 8 O Kentucky 10008 0 N ¥ 108 O Ohio 20 Swan & Finch 600 Vacuum il Sales INDEPENDENT O reds Sery Serv hew ptd. co Cor. ulf Oil of Pa Pet o Pet Vingston Pet ex Panuco ount Prod ount Gulf . New Mex Land . Pan Am .l | Peer 011 Eor | ennok Oil Cor Reiter-Foster Ol Venezuelan Pet 4 2 Wile Ol & G new 2413 | INDUSTRIALS Gas & Fi L e P & Linew Rayon' Prod Superpow” 4 Superpow 1 Aviz Pow & T. 10 Armour Co B vte 1 Armour Co pd.. 3 Auburn Mir 20 Asso Gas & Bleelow H 2 Bras Lt & T @Bl Co 1can D G A ‘new gear Light ent Centrif Pip T iChie Nip A 1 Chic Nip B Tt 190 Cleve - Auto 0 ew 3 Bal new Bak A .- B 71 Contin Bak n Bak ptd Cuba e 1 Curtiss” Aero M ZEEECT Fe [ LR R R orcsrsonin o PR AR wia & 10 4 oo Ses e £ SRR F REAE FRERER wa R REBELIRGRS P T ers Zhade P SRS PR [ BEEBERESENZ IS5 BeSESBRL SR & Hnts 19D S 191 528, & o =3 VERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. Rallroad Buying as Guide sperity. Class 1 rallroads in the United States by reason of the $5,000,000,000 which they spend annually for wages supplies and materials are one of the industry’s best customers. If the roads cut down on those expenditures as they did Jast year, industry suffers. In 1924 the class 1 roads spent $736.400.000 less than they did tn 1923, or $4,847,700.000, which is 13 per cent less than the $5,583,100,000 reported in 1923. According to the Bureau of Railway FEconomlics, in 1924 $2,629. 902,000 was spent for wages, $1,343.- 065.000 for materials and fuel and $864,743,000 went for new equipment and improvements, which could be | classed as capital expenditures. This | sives the above total of $4,847.700,000. | It does not take into consideration dividends, $510,000,000 | in interest and $340,000,000 in taxes Incidentally, taxes amounted to $929,- 000 a day, as compared with $909.000 dafly in 1923, and totaled more than dividends. The volume of freight trafic moved last vear was only 6 per cent less than in the previous year, yet pur- to steel products and forest | slumped. in so far as weye concerned. For instance, $471,656,000 was spent | on tuel, which 1s 24 per cent less than the 1923 fuel bill. ~Bituminous coal makes up the bmlk of the fuel ex penditure, and the $373.483.000 spent there was 28 per cent less than the | corresponding figure for the previous vear. The roads bought 126,372,000 net tons of soft coal, or 18 per cent less than in the year before. The importance of the raliroad moft coal bill s visualized when it is realized that 26 per cent of the total United States production of bituminous coal went to the roads last year. The roads have an important in- fluence on steel production, too. In- products, the raliroads | cluding direct and iIndirect purchases | | for equipment, etc., about 26 per cent | of the steel produced finds its way to the raflroad expense account. Both volume and dollar purchases of iron and steel fell off 21 per cent last year, | and the final chases of the three main items, fuel, | iy C N & 1 g v Ow 8 @1 Ch Stores Mid W Util pfd > Ml W U pr lien Miller Rubt Sk v izer Cory 0 Pow Nor States P C Nor Sta P C war Outlet Co Pz B e 62 Power Corp 4 Pratt & Lamb C 1 Purity Bak B & Pyrene Mf e LT RPE et TR the amount of electric current it has been supplying to Georgla and the| Carolinas and announced there might be a still further curtallment of “ex port” power. Ninetv per cent of the | Alabama company’s current is now be- | ing generated st the steam plants| owned by the Government at Muscle | Shoals owing 1o lowness of streams | were hydro-electric plants are located. | Much Current Cut Off. | Current for signs and oth mi nation not deemed essential to mnnicl- pal safety has been cut off in many citles. Street cars have reduced their operating schedules 25 per cent. It} may be necessary to delay some del eries from Southern factories for an additional 30 days, owing to power| curtailment. A portion of the cotton crop has been hit hard, and this has reflected on Northern markets and New Eng- land textile mill operations. Dry goods sales all over the country have been excellent, however. One noticeable feature has been the success of early Fall and Winter overcoat and fur G o 2 st o oisws 3 theast P&L o Wl E Citiea Vif k3 Motor inti & T Swift 1 8witt 13 Thomp 2 Timken Axle 3 Trans Lux Trumbull Union 2i Un EI Un 6 - co RC vio [ i A Steel Carbide Coal vic & Imp Co &P ve s & cer ooy S S A0 D 3 RS HEBRE RS e - S SECE ~Soma ez SR8 Naanin PELES SRR T e e s G S 02, T 3 8 $u 8 8 SERr o i on Warner Brog Pio Walworth Mfg West Pow 3 Wilkon & C new Wi & C A new wi W & C new pf wi 2 Yel Taxi CN'Y MIN Ty - FsS I3 s SIWENEEEEF TG0 el g YO o - - o Mines Gold M Lt | 1 Golden Center M 4 Hecla Mine. ... ol ferome V Tevel av Copper 1 Kerr Lake. 2 New Cornelia Nipissing Jhio Copper... Premier Gold M Red Warrior..... Shaw Mines.. Spearhead Gold 0 Stand Siiy Lead 1 Tonopah Belmont 2 Tono Midway. 2 Tono Min 4 Wenden Cop | B |GREENLAN { SUBJECT OF INQUIRY » S » o » ~ P P o a S 250N e ot e » » A AGEOR e me S B e ) . » + & P 5. 2 kt 1 £ EEE PR - ) Lisshbs Li-oai W W, = e ey e D CONDITION i | | Danish inister of Interior Will Vzeit Colony to Obtain First- Hand Information. dence of the Associated Press. HAGEN, August 20.—Un- | able to make decisions in matters con- | cerning Greenland with the desired | accuracy, C. N. Hauge, Danish min ister of interior, determined to visit | the colony and seek first-hand infor- | mation of conditions with which he! | was not familiar. i Before his departure Mr. Hauge | sald criticism of dectsions made in the | past had been very searching, and | seeing that Greenland questions were of vital importance, not only to the | Eskimos but to Denmark itself, ft| was necessary for the administration | to reduce any chances of fut@re mis- | takes to a minimum. “I wish especlally to examine the | possibilities of developing agriculture in southern Greenland—first and fore- most, the prospects of rational sheep breeding,” the minister said. | “In southern Greepland thers are large valleys where®the old” Scandi- navians hundreds of years ago car- | rled on their agriculture, until fipally | | they were exterminated by the Es | | kimos."" Two government agricultural ex- | perts, Messrs. Hansen and Knudsen will follow Minister Hauge to asetst | him in his task. —_— | GERMAN BONDS ARD’ éTOOKS,; | (Quoted in gollars per miljjop marke) | Gar Gov (3,In) Be 1014-18 £78.00 & | Hamburg 4'as 1919 ... . 200.04 | Ger Gov 45w (forced loany. 10.00 | Ger Gt 8-16s 23 (sm pes) 40 | “(Quoted_in dollars per thousand m: | Ger Gen Elec 4% 18.0¢ er Gen Elec 41 | Berlin 48 pre-wa: 323 e = Hamburg s, 8 | Hamburg Amer Lin North German Lloy | North German Lioyd.. .- {ruamnl Consols 8144 Krupp ba 1081 . .. : | Dusseldor! 4s pre-w Frankfort a-M 4s p Munich 4s pre-war. Badische Anilin... .. A E G (Ger Ge Elec)., Commerz and Privat Bi Disconto Gellschaft. Dresdner Baok. Deutsche Bank. Darmstasdter Bank Mercur Bank Vienn: — . FOREIGN EXCHANGE. (Quotaiions furnished by W. B. Hibby Nominal ~ Selling o i vaie. ml.{ yo iy 3325932552008 270aorS" 2202, 2333383 re-war. PNy £888288333353333: 333383288 wronrco 1ot —RROEeSoeD | woomoos Co ecks London. pound. 84 Montreal. doll Paris. franc Brussels. franc. erlin, mark. ome." lira. Zurich. " trane. Athens. drachmi Madrid. peseta. .. Vienna, crown. . e Budapest. crown Prague. crown Warsaw. zloty Gopenhagen. crow Christiania. crown. Stockholm. crown.’, BOSTON 8.0CK MARKET. BOSTON, September 12—Follow- ing is a list of today’s highest, lowest and closing prices for the most active stocks dealt in here: Olose. Arizona Com 2% oston & Maine Galu & Hecls op) ange Eest Butis Hardy Co g, Cooe Tale Ro; Libby, gwer O ohawk .. ow Cornsli. Eor ® & TIIIN01 Id Domminton +.vs e WS wEra R S oo Bk o aseac 13049000 B aIRSD ch e ) AN e O SR Winone ™ | im0 samommeties | posed to price Increases jemployment in Detroit, which reflects | placed on overtime to keep product¥n (might show of the strength of the non- | com 1$8,300,000. salen. This is taken to indicate that while the public has ample money with which 1o buy, it proposes to get the most for its o and 1s strongly op Steel Outlook Good. Factors are thoroughly favorable in the steel industry, but there is little in. dication of & desire to press for higher prices on the part of manufacturers. The automobile industry continues to increass production following a re- | markable demand for cars. Industrial condition accurately increased the last week by 2,983 work ers to a new high total for all time of 246,985. This represents a gain of 49,651 since January 1. Every depart ment of the Olds Motor works has bees | the automobile within reaching distance of depdnd The September schedule calls fe 5,000 sedans and coaches alones Lower Crude Ofl Isely. Oil culs were confiped largely to| slight drops in fillins Statlon prices, but petroleum men <M View of the con tinued heavy prostiction of crude, an- ticipate crude erices will go lower. Vague rume® that the anthracite strike migp¢ spread to the bituminous mines ceitinued to pop up in unex- pected uarters, but for the most part were Scouted by operators and miners. Boh sides appear a little dubious oout what sirikes in union mines union producers. The invitation of Gov. Pinchot to representatives of the operators and | miners to confer with him did not | a surprise, but little hope was expressed that it would lead to imme. diate settlernent Candy Stores Expanding. | Chain candy stores are preparing to | open additional branches in a number | of districts, and the confectioners are | confident they will register a banner | year in 1925, aided by the stability of | sugar pric For the first time the amount of American-made toys ship ped abroad has exceeded those import- ed into this country Lumber production shipments and new business fell off somewhat, but building is proceeding at a record pace and the check is regarded purely temporary. The knit goods manufac- turers report business on Fall and Win ter weight underwear has been heavy, and makers of balbriggans, sweaters and bathing suits are heavily en gaged. Consumption has caught up with production in silk hose. Shipping is becoming more active than it has been in_ several years. Operating costs have been stable and both passenger and freight traffic has improved as compared with 1924. (Copyright. 1925.) MORE LIGHT THROWN ON BRITISH EXCHANGE | Special Dispatch to The Star. i NEW YORK, September 12.—The August statement of the British for- elgn trade throws light upon the ex- change situation. While merchandise imports declined $25,000.000 as com.- | pared with July, exports fell off only The net excess of imports last month was, in consequence, $17,- 200,000, as against $110,000,000 the month before. It was notabls, in view of the fact that in August ordinarily foreign buy ing of American staples is on the in- crease. It shows one of the ways which has made it easier to handle the delicate position in the London market without shipments of gold to the United States. LEAD OUTPUT INCREASES, NEW YORK, September 12 (#).— August production of orude lead in the United States and Mexico by members of the American Bureau of Metal Statistios amounted to 64,324 short tons against 64,168 in July. The output of refined lead was 59,117 tons against 61,067 and antimonial lead 2,799 tons compared with 1,218 tons the month before. Stocks of r fined and antimonial lead on Bepte: ber 1 were 11,765 tons against 12,305 on August 1. —_—— WALL STREET BRIEFS. EW YORK, September 12 (#).— Stockholders of La Salle Extension University have approved an increase in common stock from 245,000 to 850, 000 shares. National Malleable and Custings Co. has bought 20,000 tons of pig iron for shipment during the rest of the year. Galvanized sheets have been ad: vanced §1 a ton in the Chicago dis- trict, to 4.45 cents a pound. A i STEEL INVESTORS ACT. CLEVELAND, September 12 (#)— Holders of preferred stock in the Trumbull Steel Co. have organized a Stockholders’ protective committee with J. V. Gear, Cleveland, chairman. John A. Elden, who recently filed suit asking for permission to audit the books of the company, is secretary. R N o Query the Premoter, Determine how much of his own money the promoter is putting into |are also c/nsiderably higher than last proposed, will afford particular relief | 10 people paying the larger surtaxes. | “I'his is the class who. since the war, | have been putting their money ihto tax-exempt securities. It i the class, who have had the big paper profits in Wall Street, but of whom it has been | Many Strengthenlng Factors. Settled politic nditions. the as surance that business is not to be harried by legislation. has been an important factor. Second s the abundance of the credit supply at a season where commercial and agri-|s2id that they “couid not afford” to ;:I!ln)\l d;muvvds are heaviest. Third, take them. 1l there is the enormous volume of gen | eral trade throughout the country, of | Big Lividonds Bxpactef. which the record-breaking rallway| NOW comes the prospect of a tims traffic is the most convincing proof. | the first since the war, when the ch | Along with these essentfal features | €N may be sble to realize on (heir| © the reports of corporations, rail. | Stockholdings (o advantage That roads, industrials, public utilities, The | {018 is ihe significance back Of some rallroads made a remarkable showing | 07 the rise in the high-p=Ced indus | for July. According to all indications, | rals, which are ownes &lmost ex-| they will have done even better for | clusively by the ver» Weaithy, can August, and with the control over op- | hardly be doubted erating expenses which has been| The distributior Will | demonstrated. plus the prospect of a | only afier the Vvarious plans for {heavy freight movement through the | “capital splitdPs’ have been pui Autumn, the returns are likely 1o be | through, mstiPIVing the stock units. | very pleasing to rallway shareholders | but there)Y reducing market prices for some time 1o come. |10 a Jeyst more within the means of | lic to buy. Trade Reports Good. the pulic to buy In a majority of instances quite a| J<change Conditions Unchanged. large majority. in fact, the big manu facturers and merchandising concerns did a 1ot better fn the first hailf of (k& year thun they did in the same peiod {last year, and this improvemer: Kept on_through the Summer | Nowhere has the gain bees more as |tonishing than in the ai~omoblle in dustry and in others waose business and profits vary with «hose of the au tomoblle makers. =~ (ooper pplies have muink compar-tively low on a quo tation of 14% cetis 8 pound as agains 131 cents a wAr ago. Other non-fer- rous metals Such as lead and zinc take place In the international money markets 1o developments of consequence have occurred. Another heavy los 1 at the Bank of England indicated still further the termination of the ef- forts at a pmulation and the desire to carry out -as far as possible the obligations incurred by the restoration of a free gold market. Another topnotch for all time along the line of inflation was set by the French paper currency. This. how ever, has not damaged the market for the franc, and it certainly has not in terfered with the upward movement in French dollar bonds, which was v T¥e metal trade faces altogether | one of the features of the week. goos deal more promising time. i ks { Confidence In Future. | e igsiig ) The active buying movement in for- | These individual trade conditionsare | eign government issues generally is | being measured by the market move i““"" due to the search for invest- | ment in the stocks concerned. Wheth- | ment securities bearing a high return er the rise will turn out fo have been | where similar opportunities at home excessive depends upon whether the |have become limited. and partly, it market is right in belleving that the may be, » preparation for a series of | present situation will last. But so far offerings of new foreign issues, both the note of confidence in the future is ' public and private. supreme The little flurry in the local money There are other quariers, to be sure, | market which carried the call rate to where there are elements of uncer-| 5l per cent aemounted to nothing. tainty. The steel companies are oper- | Again it was checked by free offerings ating at 70 to 75 per cent of capacity, [from banks in the interior, who found but they are doing business at prices | that they had more on hand than was under those of last year and very ma- | needed to supply the wants of their terially under those of two years ago. communities. Another case where the smallness of | (Copyrighs, 1925 ) COTTON QUOTATIONS 'FRIENDLY SUIT WILL Showers in South Have Effect on Markets. B. & A. Expected to Clear Points in Contract. By the Associaied Press. NEW YORK, Beptember 12 The cotton market opened steady today at a decline of 2 to 10 points in re. sponse to relatively easy Liverpool cables and reports of cooler weather and showers In the South. There was{!s & friendly action to obtain an inter- considerable trade and Liverpool buy—:_‘:::;‘::h);‘v ‘1’)'0;:";‘;:[‘;“’“:";';"?'"2‘h““ ing, but realizing was heavy In the ! ier road. early trading. December sold off to| Thers is a difference of opinion b 2382, a net decline of about 16 points, | tWeen officials of the two compant 5 Mr. Doyle sald, as to the amount due later rallving to § or 6 points from the Washington Electric and Rail | the lowest Lower temperatures reported in the South were generally considered favor able, but there was the usual differ- | ence of opinfon as to the effects of rain. Buying on the decline was pro- | moted by reports of an active demand for cotton goods in the local market. | New York cojton futures closed steady at net sdvance of 28 (0 45 points. . High. low. Special Dispatch to The Star BALTIMORE, September 12— The suit brought by the Washington Rail- way and Electrio Co. to recover $276.- 000 from the Washington, Baltimore and Anapolis Electric Raliroad Co. ment with the Washington, Baitimore and Annapolis. In order to have the contract be | tween the two roads finally and defi nitely interpreted, Mr. Doyle said, the Washington Rallway and Electric Co. has brought suit for the total amount of its claim in the District of Colum- bia Supreme Court. Only part of the claim, hewever, is disputed by the Washington, Baltimore and Annapolis, Mr. Doyle said. MOTOR CAR OUTPUT October ... December 24119 2450 New Orleans Quotations. NEW ORLEANS, September 13.- Cotton futures opened steady. tober, December, 23.30; ary, 38.32; March, 23.60/ May, 28.60 NEW ORLEANSCotton futures closed firm at net advance of 39 1o 43 points. igh. i T 24.03 3401 By the Associated Press. NEW YORK, September 12.—Hud- son Motor Car Co.'s August produo- !tion was 27.500 Hudson and Essex cars, against approximately 30,000 cars | for July. September production proceeding at the rate of 1,200 cars a day. The Chandler Motor Co. fs bringing out an entirely new line of models for the 1926 season. Prices will be ma- terlally lower. Der January arch ay GRAIN PRICES ADVANCE IN 10 YEARS IN RUSSIA| 2363 White Flour Also Shows Marked Gains—Recent Rise Is Notable, By Ouble to The Star. MOSCOW, September 12.—Govern- ment tabulation of grain prices in the entire union of Soviet Bocialist re- publics show roughly & 5 per oent increase in quotations in the last 10 days of August. Wholesale market prices in European Russia on August 30 were: Wheat, $1.30 a bushel: rye, || 89 cents a bushel, oats, 42 cents, and | REAL ESTATE LOANS barle; 64 cents a bushel. A AT In the Ukraine republic, whers ||| % crope are hl’lu: prices cozn‘l: . h:ch-{ | RESIDENCE TOANS AT 10W RATES er than in other parts of the union. According to present prices, exports | FRED T. NESBIT | from Bfberia via the Pacific offer the || INVESTMENT BLDG. Main 9392 | ATLANTA, September 12 (Special).— Boutheastern cotton will be harvested nearly a month ahead of the usual time. Some gins will be closed by October 1. -In the upper Piledmont region there will be no top crop be. cause of drought. Pickers are scarce in south Georgia, where the crop matured very suddenly. —_— best market. Similar quotations for white fleurl show 3 roubles 40 kopecks per pound. | which is equivalent to $6.81 for a sack of 140 pounds, at the end of !h-i I month. This was a 10 per cent in- crease during the month. Compared || with wages and the price of white bread, it was extremeiy high. | FINANCE Current int. rate and commission. Higbie & Richardson, Inc, 816 15th St. N.W. SRl P, EQUIPMENT SALES GAIN. | BOSTON, September 12 (Special).— Submarine fathometers, developed by the Submarine Bignal Co. of Boston, which determine depth of water under a ship, are to be installed on the steamers Leviathan, Mauretania and Columbus and on vessels of the United States Coast and (eodetic Survey. G ompt_Action - First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. 738 15th Street L4 WANTED! SECOND TRUST NOTES e Mice Like Lipsticks A California boy has found a new his scheme before you decide to risk yours. Don’t take his word for it— ‘make him prove it. WEEKLY BANK REPORT. NEW YORK, September 12 (Spe- cial)—New York bank _clearings, New York bank balances, rk X use for the lipstick. In a garage in Lankershim where he works he has been trying to find a bait that would help him to rid the place of mice. All FIX ROAD’S CLAIMS | Reports of Cooler Weather and "Action of W. R. & E. Against W, | way Co. under its right-of-way agree. | g SHOWS SLIGHT DROP | is | See Mr. QWonnell, Mgr. Mortga® Department JAMES F. SHEA 643 Louisiana Ave. NW. PROPERTY Owners! We service based upon offer you a Promotion more than Meney If vou need funds for the car rying of legitimate enter prises commercial garages movie ers and kindred endea we have money aval attractive rates 32 Years' Experience on churches vors in handling Wash- ington rentals, B.F.SAULCO. Main 2100 925 15th St. Talk with agerof our' L wbout v can help MCKEEVER - GOis Renltors Main 47 1415 K St Thrift s not stinginess, not hoarding. 1o buying, giving and spending. it is Just a plain word the exact oppusite of careleseness Thrift disturbing factor is that very badly invested. I most liberal interest MORTGAGE NOT will all too often hard »u wish ABSOLUTE nothing and economy produce cert return, , paying 614% Interest Mortgage Investment Department HANNON. & LUCH 713 and 715 14th Street N.W. MAIN 2345 surpasses e ny g | é The New York Life Insurance Compa Offers to Make First Mortgage Loans on Improved Real Estate In the District of Columbia and Suburbs for 3, 5 or 10 Year Periods Office Buildings ON APPROVED SECURITY % RANDALL H. HAGNER & GOXMPANY GORRESPONDENT R g MORTGAGE LoaN HERE'S an elderly man whe depends on vou for subsistence. Youw've never met him. You won’t for many years. For this man is Yourself—grown old. Are you playing fair with him? Are you leav- ing some of the fruits of your present industry for him to enjoy? Or are you allowing the Man of the Present to spend the Elderly Man’s heritage ? Play fair with him—by saving and investing in first mortgages through an organization which itself is known for fair play—whose in- vestment offerings are sound and secure—and bear an attractive rate of interest. 62% _sfig%q. EMHERSEY Co. Sireel. N W, @ashingion.D.C. the usual baits had fafled. One eve- ning the boy’s sister, calling at the garage, dropped her lipstick. Next day it was found that the mice had devoured it. Procuring another like it, the boy set his , and in the morning theg WeTR. L ghergy- PSSR PGS SV it Washington Investment and Transactions Co, 715 14th St. N.W. Main 3663 86 Years Without Loss to An Investor,