Evening Star Newspaper, September 19, 1925, Page 25

FINANCIAL., —_— _ THE EVENING STAR. WASHINGTON, B PLENTY OF FRUITS FORHOME CANNING l Received by Private Wire NEW YORK. Sapiember 18.—Fol- | lowing is #n official list of honds and stocks traded In on the New York | Curh Market today ! Sales in BONDS thousands s I Alhed 1 Alum Pear and Peach Season Now at Height—Beef Ends Week Unchanged. Pack 8s newe 33010 & EI" a0 Be 6 K Rell T Cay 2 Roth st Nai' Ry NMESID 30 A TORMRT & T a15e This the for fruits, and wholesale dealers are well supplied with the varieties that most in demand. Pears are plentiful nd prices quoted dealers consider reasonable. Anjous. Bartietts and Duchess pears are received in bushel haskers, and prices range from $1.75 for No. 2 Rartletts to $4.25 for the extra fancy fruit. Seckels, much smaller than the other varieties, are in demand at $2.50 and $2.75. Only moderate supplies of peaches | are The and market steady is seasan canning are Sery n & T b B ¥ P Rl are wh A Datront Detron n Pey Ed 1 s heing received demand is slow Dealers sy Octoher peaches prohably will not he plentiful this season Limited supplies of cantaloupes are the watermolon hainz and market fa Prices are not quoted. Today's Wholesale ®utter— Fancy tub, 5 541, store packed. 33 Egss -Fancv., selected. Averaze receinte. 35838 Poult Alive Spring chi large small. 31: heavy 28230 ’5; small fowls 29 10a75; turkeve, | Dressed—Spring “mall. 32 tur 1215 received that is fast nearinz a close malons are heing received 1001, 100 ¥ 1001 Prices. 100 207, 1001y fosu 9913 prints ndled. 3%a 0 Andian I ity 1z kens £n 21433 fowls, 4 medinm 15 fowle. Keats 12215 ducks, 5830 ge chickens. 23 ducks, 2 Live stock — Calves, Sprinz, 1415 hogs. 14 Meat — Beef. 15. veal lambs, 30: hogs. 22: loins, shoulders, 22: hams. 32 Fruit and Vegetable Review. Today's market report an fruits and | vegetables (compiled by the Marke News Service of Agricultural Eco nomics) said: i Apples — Supplies liharal: demand | slow. partly account Jewish holiday marker dull. Bushel baskets—Marviand | 3800 nt} et @ and Virzinia. No. 1, Grimes, large size.| 70 Magnolia Pet 150175, few 2.00: medium size. 1.25a | A0 N, ¥ Transit 1.560 imes. 1.00al $ o MBI 13: lamha } Siemens:Hal 76 33 081 Solvay o @ ‘54B 103 13 Swise GOVt Sigs.. 1081, 3 Theesen T & € %0105l 2 Toho Elee P a01L 11 Tokio Elee 6 a8 Sate STANDARD OIL ISSUES Lobos spring | smoiced | 20 n 10 AL Creecent P 1. 10 Contl Oil new 100 Creacent 0 Gal 1600 Himble il & R 100 Imp_ 0il Can new 19 Gileon O Cor 10 ne P ! Livingston Pat 1 Sea Pammien 18 ount Prad Mount Gulf I 2 New Branitord 0 | 169 New Mex Lang | 6 Pan Amw Aemand AT holiday Deer o' Corp. 2 tos 1 Pennok. 0N Carn 13 Reiter-Foter 01 1 Roval Can 0 & R . & Rvan. can a2 pron 1300 o0 5 Venezuelan Pet Sales INDUSTRIA nundrads TAsko Sun T amal FAm G te;demand | 11 Am L. & Trac 3Am Po & I, new i 3 Bl re TAD Pow & Lt of 1AM Ravon Prod Phe Sve Subers A A bern i 1 Thread C vtd 34d Arm & C B v e 167, Arm Tea pro g Aveo Gat % Fie: Atlas B7C nes Bare T & T & 1 Rotssonnault & ¢ 2 BriAm T Riciyn i No. 1. various| 100 Penn Mex Fuel varieties, medium to large Sizes, 1.25a1 700 Prairie 0 &'G 1.30. Boxas—\Washington S Winter Banana. lar 20 Southern P 1, fancy. 2.50a2.75; C grade. mostl 2200 Sou W Denn B I, n T 2700 8°0 T abbage — Supplies light: demand| “ip0$ QT - very slow, market weak: no sales re | § 28 = ported T10 Swan Fin Cantaloupes—Supplies moderate: de- | ah) y5an, & Emch mand limited. partiv account Jewish ! syec holiday: market firm on flats. steady | in bundr on standards: Colorado. Salmon Tints. | standords 455, 2.75a3.25: according to condition: few low as 2.25. flate, 12< and 155. mostly 1 nk Meats, flats, | 12 15, 1.25a1.75; mostly around 130 | Grapes— Supplies moderate: demand | vderate. markei steady: Delawnre 1%.qt. elimax baskets, Concords 20. California crates. Flame Tokavs 1.75a Malagns, «ome fair condi tian sal.75 Onion Market Dull. Lettuce—Supy liberal slow. partly nt Jewish market stea - York, 2.d Rig Boston type. 75a1.00 crates. Iceberz tvpe, 3 to 4 doz. 3.00 Iy 2.75 most 7 < plies lizht: demand slow marker dull: New York, Mass setts. Indiana, Ohio. 100-potnd Yellows, United States No. 1 Peaches—Supplies moder: slow. partly account Jewish market dull: New York. bushel-basket | lbertas. medium to large sizes, 2.50a | 75: few 3.00: New Jersey, bushel-bae- | jets Elbertas, medium to large sizes, 3.75 | Pears—Supplies moderate; demand | limited partly account Jewish holiday, market steady: New York, bushel-bas. kets Bartletts, No. | 5023.00, mostly 002.75: No. 2. 1.75a2.25: few ripe,| 3 BKisn Cir 1.30. California fletts, extra | 3 Car Light tancy. 4.00a4.2 ney. 3.7 | = caroliia & otato Supplies Light. Potatoes—Sapplies lizht Jimited. market firm: Mai sacks irish Cohblers, 1° Ko 1. 385 | A400: Pennavivania O.pound scks Long Whitee, ', 8 0, 1. 3.50a3.85. Sweet potatoes ipplies limited Asmand moderate, market steady: Vir- zinia. East Share. clnth-top stave bar- rels, Yellows, No. 1. 4.00a4.25; few falr condition. 3.75. Celery—Suppliss Timited partly account market Adull: New York. 2 crates Golden Self-blanchinz. in the rough hest, 2.75a8.00: fair qualitv. 2.00a2.50 Grapefruit—Supplies licht! demand market steady: Isle of Pines. ze. .00, egrown receipte iih ited account Jewish weak: homegrown A4 163 Aemand 0-ponnd RY STUART P. WEST. ] Spacial Ditnateh ta The Star NEW YORK. September 18.—Dur ing the past week the movement on the stock sxchange has assumed ce tain aspects which are, by no means, agrecable from a conservative point of view. Those who have re perience recall that violent uphidding of individual stocks. while the main hody of the list has changed little, is not a favorable sign. It does not moderate: demand Jewish holiday. AbArTate: ect for past ex- erate. medium si omatoes—Ho demand 1i Molidav. market 'GAINS IN MANY ACTIVE STOCKS COVER UP SEL Direct to The Star Office | centril Pin Cor hi 'Gab Mfs A h b A by Nin B L s Toe & Fuel v | h Brown P e § T, i istie Bali new Bak Bai R Rik pid 2 Com Hali & ) 1 Cuba Co & Aero At 5 De For R € vic T Devos & Revnlis 13 Dubiler € & R + Dunnill a1 41 Ducant Mot 1Dup € & R Vie Pont. Motars & Shpti & Shon o nyest Ine i Rror I Engrs Puh Serv Engrs P S FR pf Eagel Motors Co Motor W purchasing FALL RETAIL TRADE SETS FINE STRIDE Textile Demand Up—Gain in Building—Auto Plants Still Very Active. €. ROYLE. The Star. RY Svecial Dispateh 1o CLEVELAND. September 19.—Fall retail trade already is swinging Into its stride and distribhutors arve display. ing their confidence in tha future by | forward orders This tendency is; especially noticealle in Middle West | markets. Developments during the weak have emphasized that industrial operations throughont the United States are rumning at & high rate, which inevitably means high n.dmdum} power Some merchants | feel that pre-holiday distribution will | exceed all previous records. | The saler of the mail order houses have shown even more improvement nza [ than those of the other retallars. Sales Hazeltin Hovie K Helim Corp Chem ntd Hardart ! Bros A ntl Conor Tnd ¢ i Intl Mateh € pf (R INY Util B Mapville Jones Radio Koyatn | snet ~ Wmy +' Chease Land co Fla Pow aor 2y Val € ) 20 Lobn & Pink P it Bros 5 Bawunnna Mid West Uil Miller i Motion Pie Cap 4 Murad Radio w7 Music Master 13 Nat Pow & 3 Nat Pub Ser 1 Nat Tea I Nick Plate n’ wi 1 Nizer Corn A 3 e Nizer Corn B i No Ohio Powar Nor States P et Co tlet Co e Pathe Ex ine ‘A Pern Water Pow Pow’ Cor N Y § Purity Bak B Reo Mot Richmond R new ) Serv” Bl Corp A 4 Sleen Rag vic. South G & P A ) Southeast PAL. 2R Sthest P&L 0 wi South Calit Ed Fies rie Rezis Pap tand Pun € 4 tand Tank Car Stots Motor Swift Intl 3 Thermont Rad’ € RCvto im | S Plasine Card 4 | Car Chem W) | Car € n ot wi Talk Mach Chemical Radio Warner B Warnep | Wik € new : Wi &C A mew W 2" | Wik € now of i Wolseris "Cem MINTNG ST | Cana e | 10 chine et Mined ' 1 Eagle Finer T47 o A, = Gla M L 1. | 40 Firat Th R 50 Forty, A 20 Hawin A 1 Hecla Mine Kav Cover Kerr La Mason Yie Viek Ware P al mouth Td M Goid M Warrior i Gold . Ttah Anex Wemien €4 A LING IN OTHERS investment elemeni has hecome ron atantly less important. The field has| heen ziven over to speculation, and to aum up the difference between the market now and that of the early Summer. it lies in the one fact that present huvers are animated by the hope of selling to somehody slse at a profit and not by the desire for per manent holdinz. | Accordin » all Indications railway | Traffic Figures Favorable. {of finished ec 5 | drought i sume operations sooner than expected | the lowest point since Ma | this = | ] cars. against 71.181 a vear ago, an in.| Markets. | avidity of two leading companies are reported inning at least 20 pgr cent ahove the vel of Septembar. 1981, Retal] prices | are fajriy stahla. On ane day this week | A Boston cinthing #-e which adver | sed a reduction in piices of suits and | overcoats was so qufekly jammed that the doere had to he closad A+ noon 1o serve customers than within the build. | ing. Tt was late at night hefore sales wera completed | Textile Demand. { England rextile industry | the better demand. The | s0ld aver 300,000 piecss | 5. or over two weeks production. in the last week. Wall| River manutacturers. losers lasi vear. | now are enahled through reduction in prices of cotton and ecurtailment of | Xpenses 1o show a gain. New Bedford mille have hoeked | enough orders for fine ecotton and | FAYON mixtures to keep them busy for | some months. The forced curtailment in the Southern plants because of | and lack of hydro-electric | power has heiped the situation of New | England. and mills which closed down Labor dav for an indefinite time re. aw tng mills Advertising Improving. As a result of the increasing mar. kets the trend of newspaper advertis ing is improving. Steel mills in the northern Ohio. | Pittshurgh and Chicago districts are | maintaining a high velume of produe. | tion | For the third week in siccession De- | troit industrial employment, a good harometer of the automebile industry, reached new high-record fizures with 2 5 workers on the pay roll. The ord Co. has orders for 250000 of the new-model cars, a large number for cash. Becausze of factors changes the output etill i# below normal. but Ford officials cxpect productign of 7.000 a day Octoher Reports from the buth state many thousands of orders for new Fards ave still unfilled there. Florida Leads in Building. Bullding construction still ex- tremelr heavy, latest reports from more 1han 300 cities showing a zain of over 35 per cent as compared with the corresponding perisd of 1924, The highest prapertionate gain was in Clearwater. Fla., 1,166 per cent. Lum ber orders fell slightly fro the pre vious week, but stil) are well ahove the level of 1324, with firm prices. | Brick. cement. crushed sione and | structural steel showed few changes | in_most sections, Copper sales | 1 | | i were of unusually large volume in the last week: lead | was in fine demand. and zinc and tin| were firm. Oil production was down slightly from previous high produc-|¢ i:mn figures, but is still at a high level. Coal Market Quiet. The coal markets showed few changes. but industrial consumers are understood to be placing heavy or ders for future delivery in the non-| union flelds. Raw sugar dropped to ! 1922, dur. ing the week he purchasing power of the agri- | cultural States may be judged from figures for the Northwest. which | show that al present prices the wheat. corn. rye, barley and flax erops. if they equal Government o timates, will vield $72%.272.120 10 Min- nesota and North and South Dakota (Copvright. 1925 SEABOARD TRAFFIC UP. | NEW YORK. September 12 (P).—= Heavy trafe was handled by fhe Sea half of Saptember. August faining 25.7 per cent over month last vear. In the fi month the road loadings tha same =t 15 days | handled 92,617 crease of 30 per cant D. C., 'Many Stocks Sell | this { trial | the adv; | Liverpool cables were better than ax- | 110 24.51. but. ax prices approached tha | {2307 |0IL WELL SUPPLY FIRM auth | Plenty of Funds Available in Bal- Special Thepateh hanks as " | ceptible board Alr Line in August and the firer | 1hat most industries are so well off in s | CAsh resources that SEPTEMBER 19. 1995. HUBSON’S INCOME SHOWS SHARP GAIN | NEW YORK, September 13 (#). The Hudson Motor Car Co.'s net in come for the nine months ended | { August 31 jumped to $16,722.269 equal 110 $12.68 a share in contrast to $6.- 317469 or $4.78 o share in the same NEW YORK, September 19.—Spec. | period Iast vear. Net for the quarter ulators for the u“\‘flnr!, mided by |ended August 31 was $6.926.554. easy money rates and favorable trade |Against §5,968,783 the preceding reports, staged a serler of bullish |quarter and $2,316.496 in the third demonstrations in the stock market |auarter of the previous fiscal year. week, which earried the indus- : . BUS LINE GETS PERMIT. averages to new record high | Pending SATURDAY, At Highest Prices Ever on Record Ascociated Press. levels. centrated Buying operations were con- largely in the motors| and high-priced Industrial specialties, | many of which =old at the highest prices ever recorded s | r traders stubhornly conteste 7 n:: but their offerings were | Special Dispatch to The Star. : well taken, as were a_large volume| BALTIMORE. September 19.- Per-| of profit-taking sales. Sales averaged | mission has been granted by the Puh well ahove the one and one-half mil-|{lic Service Commission for the opera- | lion shares for the full sessions, fall- | tlon of a motor bus line from Emmits- | ing just short of the two-million mark [ hurg to Baltimore hy the Conaway | in the first two days of the week. Motor Co. The matter had heen un- COTTON QUbTAT'ONs since June, when other bus lines op- | ARE LOWER TODAY posed fssuance of the permits. he Conaway bus line wil be al-| lowed 1o make two roumd trips daily | Buying and Covering Checks Any | Extended Drop—Unitéd States | Report Is Awaited. Maryland ~ Application Since Last June. | between Baltimore and Emmitsburg | via Taneytown, Westminster and Rels tertown, | Query the Promoter. Determine how much of his own money the prometer is putting into his acheme hefore vou decide to rixk fyours. Don't take his word for it imake him prove it By the Acsociated Press. NEW YORK. September 19. Fur-| ther realizing or liquidation developed | in he cotton market early today Prompt Action First Mortgage Loans Lowsst Rates of Interest and Commission Thomas J. Fisher & Company, Inc. | | 738 15th Street pected, hut early weather advices con. | tained no mention of yesterday's ru- mored tropical disturbance, and, after opening unchanged to 5 points lower, | the market sold ahout & to 12 points | helow yesterday's cloging quotations Thie decline carried December off REAL ESTATE LOANS 5;% e ANY AMOUNT RESTDENCE LOANS AT LOW RATES FRED T. NESBIT INVESTMENT BLDG. Main 9392 *415-cent level. trade buyving and rov ering checked the break and gave 'l\n‘ market a steadier undertone. prices | showing rallies of & or 10 points from the lowest by the end of the first hour. The early selling probably was en conragad by reports of a slightly easior hasis fn some parts of the | South. | New York cotton futures clossd net declina of 1 ta 5 points MONEY TO Iat and 2nd Trusts on Improved Properts Constmietion Loans Towsst Interest Rates N. L. SANSBURY CO., INC., LNW, ain 5901 steads at Low Detonar Decombar Januars March Max January. October When You Have Funds to Invest, Consult WELCH, Loan Specialist Fatablished 1890 61% and 7% Real Estate Notes for Sale in Amounts from $§250 up to $1,000 or More. Consult Welch, Realtor Loan Snerialist 15th & N. Y. Ave. Main 4347 NEW ORLEANS. September 19 The cotton market had a quiel open ing, and. although Liverpool came in hetter than due. first trades here showed losses of 2 to 3 points. Prices eased off further right after the call on conitnued liquidation of longs. Oc tober traded down to 23.51 and De cember to 22.93° The market then showed a slight tezdency to rally, and rices were almost at yesterday's rlos ng levels. The market continued nun der the influence of the impending | Goverament report. Oriean iosrd s down 19 Lotton at net unchangsd 1o 7 Januars Vad SECOND TRUST NOTES Funds available for the pur- ghase of all kinds of second trust notas, secured on D. C. or nearby real estate. Prompt actios is erers case. Washington Investment and Transactions Co. 715 14th St. N.W. Maln 462 FIRST MORTGAGE | INVESTMENTS 6%% CHAS. D. SAGER 924 14th Main 36 INCREASES STOCK | PITTSBURGH. Pa.. September 1.'uj (). —An increase of the capital stock of the Ol Well Supply Co. from £1.500,000 to $22.000,000 was approved ! by the stockholders at a meeting here | vesterday. The new stock will bel lassiffied as follows: Seventy thousand shares convertible 7 per cent cumula tive stock. par value $100: 800,000 shares common stock. par value $25., Of the 600,000 shares of common stock ized only 000 shares are at | to he issued 40000000 resent BANK LOANS LIGHT. timore Market. | | to The Star. BALTIMORE September rule are with funds which th put out at 5 and 3ty A0 to 20 days. Most of the husiness is transacted at the inside rate. Generally at this time of the vear the market is marked by seasonal firmness, but this i= hardly per- now hecause of the fact 19.—Local | well supplied | are glad to i per cent for First Mortgage Notes For Sale In Denominations of $100, $250, $500, $1,000 AND UP 617 Interest Secured on D. C. Real Estate they are lending instead of borrowing funds. This is a reason why both hanks and de positors aré driven to the investment Incidentally. it explains the with which new offerings of | securities are snapped i The same situation prevails in rural communities. F. FINANCIAL.' * 25 Money to Loan | Seend BF | Joseph WE FINANCE —all classes of tncome-productng property Large Loans a Specialty Current int. rate and commission. Higbie & Richardson, Inc. 816 15th 8t. N.W. o . & Trost F N When You Need a Loan Think of WELCH, Loan Specialist a0 megrown supplies market dull crates. 15220 per 1-hushel hampers Lima beans—t liberal: demand Y homegrown, 32-quar COMMODITY NEWS | tion from selling in other traflic fizures for August, which will |Dezin o be published within the ! course of another week, will be highly | atage has been reached.®and the pre. favorable. They will reflect the in-| sumption is strong that these spec.|Crease in the traffic volume which oc- tacular operations in a few selected |curred last month alonz with the con. hares are designed to divert atten:|trol over operating expenses. whieh directions. | Was so strikingly manifested in July. | | Durinz the lust three months of the necessarily imply an immediate ter- mination of the forward swins. But it does mean that a highly speculative | armers realized good | | prices for their erops and have plenty of money and are not horrowing EVERYMAN’S INVESTMENTS | tunds to zny extent | STOCKS ABOVE YEAR AGQ Bond Defaults. Wm. H. Saunders Co., Inc. Established 1887 1133 K St. N.W. For Investors superheated” Speculation Rules. Yet, recognizing that outside condi tions are sa v and that the | prospect is favorable for their contin ning so. it has to be remembered that | WIRED STAR FROM ENTIRE COUNTRY vear the expectations are that the car- riers will do aimost equally well. The zrain movement will not be as| large as a vear azo. and passenger business will he smaller. But the re. | both Fxamination of a list hond de- faults in the past 12 months either as 1o Interest or as to principal or as to reveals mome interesting mation. total number of such infor- | The Special Dispatch to The Star. CHICAGO. storage stocks September 19.—Cold of butter amount to 128,449,000 pounds, compared with 109.075.000 a vear ago and of Amer- Money to Loan At 51% and 6% INTEREST Before Placine or Renewine 1at or 2nd Trust Consult WELCH, Realtor Loan Specialist Quick Reolies Reasonahle Charges 15th & N. Y. Arve. M. 4346-4347 FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President Tour Patronage i very sensitive—it um- ally goss only whers it is urgently invited. and ite sojourn is lmited by the charactar of its freatment. / A Keen Appreciation —of this truth has prompted us to “urgemly invite” investigation AF to how we absolutely safeguard funds invested in our First Mortgage Real Estate Notes secured upon Washington IMPROVED PROPERTY. We are confident your sojourn as a patron “UNLIMITED" after you shall have tried our service. NEVER A LOSS TO AN INVESTOR Ask for Our Literature and List of Securitics Ofiered MORTGAGE INVESTMENT DEPARTMENT NNON- & LUCH 713 and 715 14th Street N.W. Wil be Main 2345 The New York Life Insurance Company Offers o Make First Mortgage Loans on Improved Real Estate In the District of Columbia and Suburbs for 3, 5 or 10 Year Periods Heuses Buriness Properties Apartments Office Buildings 5%2% ON APPROVED SECURITY Apply RANDALL H. HAGNER & GCOMPANY MORTGAGE LeAN GORRESPONDENT Taliphonehizin 370 AR fimmmm!mammmi ? | % Aer52/ Commecticut oernue, A sense of thrlft. the ability to save, the strength of char- acter to avoid speculation and the perseverance to invest sys- tematicallv—those are the cha acteristics which lead inevitably to success, CUR FIRST MORTGAGES are ideal for systematic saving. They are issued in convenient denominations, are safe bevond question and payv 614 “¢ interest. 6%,% FIRST MORTGAGES SAFE B. F. SAUL_CO. Main 2100 925 15th St. N.W. Ozer a Ouarter of a Century I ithout i 7% AU A. Me. September 19| stock exchange prices are very hizh.|markable reduction in transportation|bonds was %88, Of this number 324 Rusiness interests prediet a hoom for Fall and Winter in the shoe-making fndustry along the Kennebec Valley It i¢ estimated that 30 per cent more shnss will be produced here than at time in the past five vears. ALAND. September 19 the Glidden Co. in the Busi last WCLE ness of month showed an increase of $420.000 | over the corresponding period last venr DETROIT. Septamber 19, tember output of the Mator Corporation seems likely to exceed that of the corresponding perind of 1924 by nearly 50 per cent SHREVEPORT. La.. September 19 Dally average oil produetion in Louisi and Avkansas in the last week Adropped 2,128 barrels, to 267.562. New production showed improvement, with 28 wells adding 7,210 barrels to initial yield LOUIS, Septembe A mer- ger. involving all Illinois coal mines within 75 miles of St. Louis, valued at $35.000,000, is being undertaken by a syndicate of Chicago headed by Herbert E. Bell of the Bell & Zollar Coal Co. BOSTEN STOCK MARKET. BOSTON, September Follow - fng is a list of todav's highest, lowest and closing prices for the most active rcks dealt tn here: Roston and Maine Calumet_and Hecla. .. Covper Ranze Fast Butte glliette o ards Coa Intang Creek.. <le Ros)e Marflowsr 0 ¢ Mohawk Q14 Dominion Quiper S8 o orrington Tnited Shoe Mach T'nited Shoe Mich ‘of . T'tah " Metal Yentura o1 [1101010 Vworth : o9 233345585 12002003 BEZREITRL | They The Sep- | Wheel | | count seriously in Wall Street calcu- capitaliste, | | from over-speculation and | measuring the outside trade situation. i il keep on reaching new hizh records The average during the last week | advanced over §1 a share, and during the last fwo weeks nearly $3 a share. It is seldom that gains of =such mag nitude have nceurred in so short a epace of time, and there is no question that they represent a super-heated speculation rather than a ecalm in t ment view of the Wall Street position with reference to the state of business on the outside | Speculators Ignore Money Rates, { There ix much talk of easy money as a speculative stimulus. and some financial critics persist in trying to| link up what are quite unimportant fluctuations in the call money rate with fluctuations in the stock market. As a matter of fact, ever since 1921, when the United States has held the | preponderance of the world's gold cupply, and when this has accumu- | lated in the vaults of the Federal Re-| serve hanks as a vast potential credit base. the money market has ceased to | [lations. ‘u'rakxng the last three and a half ! vears, there have been npumerous in- tervals of prolonged and severe de- cline on the stock exchange, and these have occurred under low-money rates. In other words, cheap money has not avafled to stop selling movements in stocks when these have come about om over- Await End of Speculation. As an investment factor, the low money rates and the likelthood of their keeping on are, of gourse, of the ut-| most importance. But the higher grades of securities on the hond mar- ket have lonz been adjusted to low money. and in recent months inv ment stocks have done much | counting along the same line. There is plenty of Investment cap-| ital ready to go in at any favorable opportunity, but on account of the rise in the better clastes of srfltie! the | dis- | ~ |some improvement, (oo, in the demand expenditures and the completion of the extraordinary mainienance appropria- | tions which were such a feature up to| the early part of this vear will far | more than offset such slight falling off as there may be In grose. Trade Increase Is Slow. Trade in general is on t but it is a question whether it is as | much of an increase as Wall street | has been counting upon in the recent | rapid and extensive rise in atocks. No enthusiasm can he worked up over the statement that the steel mills are emploved up te 75 per cent of capac- | ity so long as steel prices are lower | than they were a vear ago and very | much low than they were two years | ago. This indicates that the steel| husiness. while satisfactory in volume, | Is far from eatisfactory in the margin of prafit 22 Reduced estimates of op. causing an advance in cotton ! prices, have led the cotton mills to buy the staple more freely for fear that the hottom of the market may have been reached. There has been e increase, the cotton for cotton goods. hut So far this rep- resents very slight undoing of the de- pression which has gripped the cotton trade for the last two years. Sugar Trade Suffers. The sugar trade, judged by the mar- ket for sugar futures, is in the worst shape it has heen at all. Spot sugar is selling under what is the cost of production for all but the strongest companies. The discouraging feature is that prices for sugar options rep: senting the 1926 season are almost as low. . (Copyright. 1925.) LARGE ORDERS AHEAD. NEW YORK. September 12 (#).— Orders for 4.500 tons of pig iron have been placed by the American Locomo- tive Co. for shipment over the balance of the year to its various plants. | in other groups than the foreign dealt ican cheese. 76.593.000 pounds. com. | pared ‘with 66.634.000 a vear ago. Of | | frozen poultry in storage. broilers | amount to 9,191,000 pounds. compared | with 7.164,000 a month ago; roasters, | 12.161.000. compared with 2,392,000 last month and fturkevs. 7.190.000 pounds. compared with 6,417,000 a month ago. BALTIMORE PRODUCE. BALTIMORE, Md., September 19| (Special.—New potatoes, 100 pounds, : beans. bushel, 75a90: beets. 00a3.00; cabbage, 100, 2.00a4.00 were industr and next came trac tions. for which the fizure was 3 Then followed 17 railroads. 4 utilities other than tractlons and 1 foreign issue. 1t is somewhat surprising to find only one foreizn hond in default out of such a large total. That one case was a South American issne. the oh. ligation of a subdivision of a large South American country. It is by no means certain that some plan will not be worked out for resumption of service on this particular loan. The | point, however, ix that the risk in|jpg, these foreign securities, which the|gweet potatoes, barrel, ~ 1.50a: market prices appraise as very high,|yams, barrel. 1.50a3.50: carrots, has not heen Jjustified so far in the | 0024.00; corn. dozen. 19a20 record. I'ndoubtedly the risk is there. | crate,’ 1.50a2.50; cucumbers, but it looks as if the market overesti- | 40, lettuce, crate, 50a2.50: mated it. bushel. 1.00a1.50: peppers. basKet, 2. The number of defaults cannot be |ag5: onions, 100 pounds. 1.25a3.50 taken as indicative of the relative | squash, basket, 20a25: tomatoes, ham. | standing of the various classes be-[per, 20a35; packing house stock. | cause there are so many more honds | hushel. 25a35; spinach. hasket. 35a40. | Apples, barrel, 3.00a5.00; bushel, 50 | a2:00; damsons, basket. 63a75: canta loupes, crate, 1.25a3.00; grapes bas ket, 60a%: pears. bu 1.50a3.00: watermelons, each peaches. bushel, 2.50a3.50. | | | | 100. | celery, | basket, beans in on this side, but the percentage is still_very low. The utilitiex make the next best record, and this is more significant. Excepting the tractions, which have had to meet irenuous motor competition, the utility bonds are in the strongest position of any kind of domestic obligation. That much is sure. Of the 17 railroad bonds which have failed 1o meet principal or interest, 7 are obligations of the Chicago, Milwaukee and St. Paul, which is also a special case. If these are excluded, the rallroads make a good showing. Nor can any important deduction he | made from the fact that the largest number of bonds in default are those of industrial corporations. for these cover a very wide variety of activities. Tt must be remembered also that many of these defaults will be cured and that ‘the hondholders seldom lnse thefr entire investment. ~When the total number of different bond issues is considered, the percentage of fail- ures 1z very small. (Copvrizht, 1825.) Gasoline Price Reduced Today In Nearby States By the Assonciated Preas NEW YORK. September 19.--The ! Standard Ofl Co.. of New Jersey fo- | day reduced tank wagon gasoline 1 cent a gallon in certain States in its territory, new prices in Maryland, | Virginia, North ‘and South Carolina | | now being 16 cents a gallon, and West | Virginia 15 cents. Quotations in | New Jersey and the cities of Balti- more and Washington were un- changed. First Mortgage Notes Denominations of $100 and Up— All Details Given Prompt Attention See Mr. O'Donnell, Mgr. Mortgage Department FRITZ COMPANY | Main 9080 Absolutely Safe Investment First Mortgage Notes % The residential prope: these notes are among the hest i the Northwest Section—practieally appraised at double the value of the Amcunt loaned. Ample protection. §Ou_see—and most liberal interest. We commend this investment to those with _small amounts—any- thine trom_$250 up. Conanit with Mr. Kelley, manager of our Loan Department. MCKEEV‘ER i GOSS Realtors 1415 K St Main 3752 Read Between the Lines HEN you read a newspaper can you read “between the lines?” Then read between the lines of this simple, straightforward state- ment: Swartzell, Rheem & Hensey Company sells only sound, conservative First Mortgage Notes on improved Wash- ington properties. The yield is 67; % per annum. Tnterest checks are mailed semi-annually on the day they are due. Not one of our investors has suffered loss in 56 years. Don’t you think that there is something be- tween these lines especially applicable to your financial advancement? L.RHEEM 6HENSEY CO. AR R [0 shiW& 50 Year's Without Loss to An Investor