Evening Star Newspaper, September 22, 1925, Page 29

\ R4 FINANCIAL. e GG PRCES SOAR AT CENTER MARKE Great Variety 7in Charges Laid to Last Week’s Heat. Beef Is Unchanged. Fresh eggs are very scarce and deal- ers are getting all sorts of prices for them. Because of the continued hot Weather, it is stated, candling lo continued heavy, but this morning's Weather gave rise to the belief that there would be 2 decided improvement | in_conditions. Fancy selected candled eggs were quoted at 35 to 40 cents this morning, Average receipts bringing 35 and 36 cents, and storage eggs were quoted at 36 cents. There are not man Storage eggs on the market, it being a trifle early in the season for them. Butter prices also remain firm, dealers do not look for decr prices again this season. Liberal sup Dlies of fruits and vegetables continue to interest dealers and purchasers, most of the supplies being offered at prices termed by dealers as being rea- sonable. Today’s Wholesale Prices. _, Butter—Fancy, tub, & prints, 42%2; store packed, 35 5a30; geese, chickens, large, 32; : ducks, 20; gee: Live stock - Spring, 14%; hog: Meat—Beef, 1 lambs, 30; hogs, shoulde; ; hams, 32. Fruit and Vegetable Review. Today’s market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural Liconomics says: Apples—Supplies light, market stead Virginia, New Yor! various varieties, large s medium _siz ington. Winter Banana large size, 2.75a3.00; far 2.40a2.75; combination, extr fancy Jonathans, small size, ; turkeys, Calves, lambs, Spring smoked liberal: demand Maryland and basket, Cabbage—Supplies light; demand light, market dull; New York, bulk, per 100, Copenhagen, 1.50a1.75 i Cantaloupes mand i et firm; salmon _ tin standard flats, pink meats, 1.50a1.75; pink meats, 5 sizes, ripe, 2. some green, 1.75a2.00. Grapes Are Cheaper. Grapes—Supplies moderate; mar- | ket slightly weaker; Delaware, 12- quart clima: basket, concords, T5a 86; mostly ; California, crates, flame tokays, Malagas, 1.75a2.00; some crates Malagas, fair condition, 1.25a1.50. Lettuce—Supplies moderate; mand light, market steady York, two-dozen crates, big type. ary i condition, iceberg tvpe, mostly 3.00. Onions—Supplies light, market firm; pound sacks yellows mostly 3.00. Peaches—Supplies liberal; slow, market about steady; New ushel basket Elbertas, large Hileys, poor quality, de- light; demand| York, 100- No. 1, demand S Supplies moderate; de- mand moderate, market steady: New York, bushel baskets Bartletts, No. 1,| 3.00: No. 2, Seckels, Nos 1, 2.50a2.75; California boxes, Bartletts, combination extra fancy and faney, 4.50a4.75; fancy, 3.75a4.00. Potato Market Firm. Potatoes—Supplies moderat mand moderate, market firm 150-Ib. sacks Green Mountains, No 1, 4.00. Sweet Potatoes—Supplies ligh mand moderate, market stead ginia, East Shore cloth-top stave bar- rels, Yellows, No. 1, 4.25a4.50. Celery—Supplies moderate; demand light, market steady; New York, 2 crates, in the rough, fair quality, 2.00a: few, 2.50; wash crat bunches, 4.50. Tomatoes — Home-grown receipts moderate; demand moderate, market steady: home-grown, ¢ bushel, best, mostly 50. Sioa CHI&AGO CASH GRAIN. CHICAGO, September Wheat, No. 2 hard, 1 Corn, mixed, 88%; No. 89289 1 Oats, No. 2 white, 39%4ad1; No. 3 white, 38%a39l:. Rye, No. 2, 85. Barley, 60a78. Timoth 7.00a8.15. Clover seed, 19 Lard, 17.45. TODAY'S METAL MARKET. NEW YORK, September : Copper, dull; electrolytic, s tures, 14%al4%. Tin. es nearby, 8. futures, steady: steady St. Louis, spot and futures, 7. Antimony, spot, 17.00. CURRENT MONEY RATES. NEW YORK, September Catfimone § flam ShiED, ruling rate, 5%: closing bid, 5; offere: at 5%; last loan, 5; call loans against acceptances, 4%; time loans, firme mixed collateral, 60 to 90 days, 4} 4 to 6 months. 41:a4%. Prime mer- cantile paper, 4%. Engine Spark Starts Fire. Sparks from an engine are believed to have started 1 on the railread trestle at Carroll avenue and Cedar street, Takoma Park, last night, The fire was discovered hefore it had | gained much headway and was ex- tinguished before the irestle had been made unsafe. SHORT-TERM SECURITIES. 5y Redmond & Co.) —Close —— Offer. (Quotations furnish 2 Adirond Pow & Lt s 19 Alum Co of Amer 7s 18 . Amer Beet Sugar 08 1033.... Amer Tel & T i Anaconda Coups Atsociatad Ol ¢ Balt & Ohio 6 Bethlshem Steel 3 s 22 >33 FREEE 552355530555 Columbia G & Continl Gag & E Du Pont 715 nderated Mstals 7a Goodyear T_& R Ss Great Nor 7¢ 1836, Gulf Ol Cor Penna §3%s Hocking Valley RR Humbls Oil 5155 19: Lehi, EBW Sec Cor M St SSM Morfi"h 07 New York Cer Oregon Short Line 48 1929, B K 78 1080 c] Crude Oi] 6s 1 Co Be 1932 0il 6% 1931 4 32 =5 =3 b3 SRIAT B 3 AR R £32235355535055 o538 E3333233328R5 ‘:'19 Uni¢ 6 1, nion 6 '3 % Wesinghotse E & M 7s 51 1 TR eBont 7iss 1931, calied at t ywater Oil 6ly8 1931 called at 101%. 2550 $533+ ‘Tanned buffalo hides, a regular commodity in leather markets of In- dia, are becoming more in demand. THE EVENING STAR, WASHINGTON, NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN, NEW YORK, September 2: ‘The selling movement continued in the curb market today. Profit taking was in order, and selling of this character was in sufficient volume to carry many of the recent leaders down a point and, in some instances, as much as 5 poini The activity in Land Co. of Florida shares was again pronounced. This stock 1 week sold as high as 94, ahd today was selling as low as 76. But after the initial offerings were ab- sorbed recovery again set in. The public utilities were lower, for the most part, with American Light and Traction the leader of the decline. At 7 it compared with the Monday close of 234. NEW YORK. September 22.—Fol- lowing is an official list of bonds and stocks traded in on the New York Curb Market today: Sales in kands. High Allied Pack_8s.. 87% P Am Gas & El Gx. 971 23Am Pow & Lt 6s. 061, 4 Anaconda 65 1034 Asso G & E & . 028 Asso Sim H 6135 9014 AUGEW IS S 08 77 B AT 01 B 104 ons Tex Bs.. uba Co N udahy b udahy : Decre & LT 3 Detroit City G s Det Edison bs B. 2 Detroit Ed 6 1 Det Edison De ¢ « « « « ¢ « « « ¢ C « I 1 Grand Trunk 1 Gulf Ol Corp 2 Kan City T Kaufm 1 1 pf U Seaboard L Rub Rub X Rub 6 Rub Rub Rub Rub Rub S Rub Rub 6 S Rub Rub 613 S Rub 6135 Rub 645 Rub G155 '30 10013 um Oil 7s. .. 1054 0750103 st Mill Blas. 9915 FOREIGN BON: 44 City Berlin 6. 4 City Gra: RF 841 Hungarn Con 7igs 8iiy Ind M Bk Finld 7s 91% 3 Italian Pow 615, 10013 5 Kem Denmk 513s. 99 1 Krupp Fried L 5 Mor Bl Denmk 0 Muni- Medeliin T Prov Santa Fe @ Prov Up Aust Prov Bas C ¢ Rus Gy 648 Siem & Hal Solvay Co. 4 Swiss Govt s 1 Toho El P Ltd 1Tsrol HELP 7% ST 300 Anglo 100 Atian: Sales 1 500 Galena Signal Oil 100 Galena S O 800 Humble 0 10 Illinois P L 300 Imp 0 of ¢ 70 Indiana F 5300 Int et 40 3 600 Obio Ol 4400 Prairie 0 & Am Maracaibo C Ark Nat Gas Lago Pet . Livingiton Pet 1 Marine Ol Margay Oil an A NWest Pet Peer Oil Corp 2 Pennok Oil_Corp. i Red Bank Oil.. 4 Re ; 1 Ryan Con. : 5 salt Creek Prod % Adiron Pow 7s pf 101 % Allied_Pack new. Alpha Port Am Gas & 16 Am Hawarian Am Lt & Tr: Pow &t L 1, Pow & Lt pf Rayon Prod 20 Asso Gas & EI 1 Atiantic Fruit 11 Atlas P C new Pipe Cor Nip A 3 Nip B Tt leve Auto “ommw P ow nf ommw P C war ohn T "Connor. onsol G Balt nw Contin Bak A... 1: ontl Bak ontl Bak pfd Hall & Marx ba Co .. .. Sub T “urtiss Soo 0 Soa0! eegs 20 D1 S e D = o & Ray n A wi. * Doehler Die € C. o) punhll tatl T urant Mot 1 Du Pont Moto B ¢ El Invest Inc. Fisenlohr Bros E: FERE E R Secure Co’ nx Pb Sr PP pl Fageol Motors Co Fed Motor Truck Franc B Hie O ran] Frank HEMC pf Freed Eisem R Freshman Chas. . T R0 FRE SR IR e e o fon” Alden Cosi 130 Dodyear Tire T 87% Gould Coupler A 23 1Grennan Bak ... 10% RSN rEE { | Miller Rubber was an exception to the general tendency and reached a new high record at 228. Gillette Safe- ty Razor got back to the Monday high of 104. Heavy buying orders came into the market for Nizer Corporation issues, carrying them both to new high prices. Radio shares were disposed to go low- er with the general market There was another sharp upturn in New Mexico and Arizona Land stock following the announcement that the company had approved a second con- tract with the Hub Ol Co. and F. A. Andrews, whereby an additional 10,000 acres of the company’s property in COTTON FUTURES ARE FIRMER TODAY Hot Weather in Belt and More Estimates of Smaller Crop Leading Factors. By the Associated Press. NEW YORK, September 22.—The cotton market opened firm today at an advance of 9 to 22 points in re- the Valencia Coumty of New Mexico will be developed. 6Grimes R & C R 213 13 Happiness C St A 9 H ineas C St F BT Corp 23% Rll-h‘ IH ek 2 4 Her *onal” Rub 19:& i Intl Coner Ind G 813 5ldy 38 ] R A i Intl Match C pf 1 Tul A Tl B [ ns Manville.. 169 Radio ... 3 <tone_Soleth .98 Wine St 43, Fla wi 81 ¢ &nc vie 148 1 C) =3 TS B - PSR E 20 S oS R e FEOEE & S 092 ¢ Tul. . 10815 39 Mid ul ptd 97 1 M4 W U pr lien 1043 8§14 Miller 229 14 Miss Rive i Mot Pie 1 Municip _Service. Murad Rad Co. . d - Master C. & Lt XA .. 460 o pd. 1083 wowil 91 68 3% 8 Nor Sta P C A 'y Nor Sta P € ptd. 100 Ips Dodge Pillsbury F M. Pitts Lake ] AL Rem Noi T C pid. 1 So Dairies A Dairies B Rexia Paper. . 14 Swift Intl 3 Swift & Co.. % Thermiod Rad € 4 Thomp R C_vie. 5Tob Prod Expt. R West Pw ctfs den 5 Wolverine Port 1 Yellow Taxi N Y '—:g Ea! Thot G M . Nine M. .. 3 Gold Cent Mines Hawthorne "M I . Hecla Mine Jerome V Devel ! Kay Copper Cor. T, Sl Tono Belmont Tono Min _. East M) ah Apex ... ah Met & Tun W 5 irm; receipts, sathered, extra firsts, 44a47; do., storage, 35a36; fresh gathered, firsts, 37adl; do., storage, 33a34; fresh gath: ered, seconds and poorer, 29a36; do., storage, 30a32; nearby hennery whites, closely selected extras, 62a64; nearby and nearby Western hennery whites, firsts to average extras, 46a 62: nearby hennery browns, extras, 54a60; Pacific coast wiltes, extras, 12a58%%; do., fi to extra firsts, 43a45. 23,883 case: — o RAIL EARNINGS GAIN. NEW YORK, September 22 (#).— August earnings of the Chicago and Eastern Illinois will show a substan- tial increase over the net operating income of $194,595 for August last r, President Powell says. The company Is planning operation of busses between Chicago and St. Lou! owing to the decline in passen- ger business. sponse to relatively firm late cables from Liverpool, complaints of hot weather in the eastern belt and re- iteration of smaller crop estimates Trade buying and covering was sup- plied by realizing on Southern selling and the opening advances to 24.55 for December. Later fluctuations were rather irregular. December eased off to 24.47, but the market held fairly steady at the end of the first hour, with trading quiet. Two more private crop reports were issued, one 'estimating the condition 52.1 and the indicated yleld 13,488,000 bales, while the other made the condi- tion 51.1 and the indicated crop 13.- 214,000 bales based on the Government estimate of acreage. New York cotton futures closed very steady at net advance of 11 to 14 points. opery Hieh gow: . 24.10 @411 24. P 2445 345 23780 238 2442 2445 2433 244 New Orleans Quotations. NEW ORLEANS, September Cotton futures opened steady. October, 23.74 bid; December, 23.88; January, 23.82; March, 23.94; May, 23.97. ew Orleans cotton futures closed steady at net advance of 11 to 13 points. SECOND TRUST NOTE! Funds avallable for the pur- chase of all kinds of gecond truss Dotes, secu . Teal “estate " Frompt action every case. Washington Investment and Transactions Co. 715 14th St. N.W. Wain 0R62 First Mortgage Notes For Sale In Denominations of $100, $250, $500, $1,000 AND UP 6317 Interest Secured on D. C. Real Estate Wm. H. Saunders Co., Inc. Established 1887 1433 K St. V. For Investors 7% | First Mortgage ; " Notes | Denominations of $100 and Up— All Details Given Prompt Attention See Mr. O’Donnell, Mgr. Mortgage Department RITZ COMPANY | Main 9080 { 7% For “New" Investors EN and women who lack investment experience may invest in 7% Smith Bonds with the same assurance as experi- enced investors. Every SmithBondisaFirst Mort- gage Bond, created by the same standards of safety and protected by the same safeguards that have resulted in our record of no loss to any investor in 52 years. 7% Smith Bonds are sold in $100, $500 and $1,000 demoninations, outright or by payments ex. tended over ten months. Every payment earns 7%. Send your name and address on this adver- tisement for our booklet; “Fifty- two Years of Proven Safety” REAL ESTATE LOANS 1 ANY AMOUNT 57% APARTMENT HOUSES RESIDENCE LOANS AT LOW RATES BUSINES3 ~ PROPERTY FRED T. NESBIT VESTMENT BLDG. Main 9392 'Money to Loan Secured by first deed of trust on real estate. Prevallinz interest and commission. 24 h. L.&T Joseph 1. Weller 430, Wash. L. &7Trust atio 58th Year NoLoss to Any Investor in 52 Years TheF. H. Smith Co. Founded 1873 815 Fifteenth Street--Main 6464 New York Washington, D. C. Pitsburgh Philadelphia Minneapolis Capital and Surplus $2,000,000.00 A Duty of Such Importance —as the Making of your Will ought not be unduly delayed. Have your wiil drafted NOW, and to in- sure efficient, economical execution of its provisions, name this company as TRUSTEE thereunder. &7 OQur Trust Officer will be glad to confer with you on subject, without obliga- Savings & Trust Co. Oldest Savings Depository in Washington Cor. 15th and New York Ave. FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President QUICK LOAN On Your Real Estate Equity $100 to $5,000 Nb Waiting—Courteous Service District Loan Procurement Co. 1417 F St. N.W. M. 4138 Potomac Bauk Bldx- Wisconsin Ave. WoGolt at M Bt. Open Evenings 7 to ® FIRST MORTGAGE INVESTMENTS 6129 CHAS. D. SAGER 924 14th Main 36 Don’t Be Satisfied With 3% —or even 6c—when you have opportunity to invest in these " safo First Mortgaxe Notee—secured by Northwest residential _property—actual worth double the appraise: valup—. Which pay 7% interest You amount from $250 up—: safe as the Caplf Mr, Kelley, manager of our Loan Department, will go fnto the details with you. Mcl(EEVER -l GOSS Realtors 1415 K St Main 47 If—the problem and de- tails of Property Manage- ment are as familiar to you as those of your own busi- ness. If—the best of your life has been devoted to Prop- erty Management. THEN, as owners of rental roperty you are equipped to manage yotr own property—O'THE R- WISE, you need us. We Specialize in the MANAGEMENT OF APARTMENT HOUSES B.F.SAULCO. Main 2100 925 15th St. N. W. Copper Mining Co. Convertible 7% Debentures (50% Paid) Due January I, 1943 Convertible Into Common Ktock without 'par value, of the Com- pany. at the rate of 44 shares for emch 81000 brincipal umount ‘of Debentures. Anuconda Copper Mining Com- pany controls 99.87 % of the outatanding Common Stock of the Company. Price to yield about 7.05% Complete circular on request The National City Company Washington—741 15th St. N.W. Telephone—Main 3176 FINANCIAL 6% and SAFETY Whether you can get this rate of interest and be certain of the safety of your principal depends entirely upon what is back of the investment. The First Mm‘lgage Notes Wwe are offering at this rate of interest are ample se- curity for the loans, because they are backed by very conserva- tive appraisals on a basis of about 50% of the property value. Consult Our Mortgage Investment Department The New York Life Insurance Company Offers 10 Make First Mortgage Loans on Improved Real Estate In the District of Columbia and Suburbs for 3, 5 or 10 Year Periods Houses Apartments Business Properties Office Buildings 5%2% ON APPROVED SECURITY Apply RANDALL H. HAGNER & GOMPANY MORTGAGE LoAN GORRESPONDENT oAe 132 Conmecticut Hoenua,; Deliphomebizin 3708, Dated October 1, 1985 $29,700,000 Government of the Argentine Nation EXTERNAL SINKING FUND 6% GOLD BONDS ISSUE OF OCTOBER 1, 1925 Due October 1, 1959 Interest Payable A pril 1 and October 1 Redeemable through the operation of a eumulative Sinking Fund of 1 per cent. per annum, calculated to be sufficient te retire the Bonds of this Issue at par not later than October 1, 1958, Coupon Bonds in denominations of $1,000 and $500, registerable as to principal only. Principal and interest payable in United States gold coin of the present standard of weight and fine- ness, in New York City at the office_either of J. P. Morgan & Co. or of The National City Bank of New York, Fiscal Agents for the Bonds of the Issue of October 1, 1925, without deduction for any Argentine tazes, present or future. The following statement (in which all figures originally stated in Argentine currency have been con- verted into United States dollars at par of exchange for the gold peso or paper peso, as the case may sweh gusranty. PURPOSE SINKING FUND through the DEBT AND ASSETS GOLD RESERVE GENBRAL raising are the hides, woel The vided for by Laws $1,450 per capita. $530,000,000) had a total Ar, sissippi Rive: OBLIGATION These Bonds are to be direct external obligations of the Argentine Government. ment will covenant that if, while any of these Bonds remain outstanding, it shall creats or issue or guarantee in accordance with the Argentine Constitution, any loan or bonds secured by revenues or assets, the Bonds of this issue shall be secur ed equally and ratably with such other loan or bonds or reds of the The Government will covenant to pay to the Flscal Agents as a Sinking Fund, beginning April 1, 1926, and thereafter semi-annually on Octobex 1 and April 1, in each year, an emount equal to one-half of 1 per cent. of the maximum principal amount of Bonde of the Issue of October 1, 1925, at any time theretofore issued plus an amount equal to the accrued and unpaid interest on all Bonds previously acquired n of the Sinking Fund. Such Sinking Fund payments (which may be increased by the Executive Power if considered advisable) are to be applied to the purchase of Bonds below par through tenders, or, if not so obtainable, to the redemption of Bonds, called by lot, at par. GOVERNMENTT Ay total debt of the Argentine Government as of June 30, 1925, amounted to about $978,- 000,000, or the equivalent of about $S7 per ca cording te the census of 1914 (the latest official figures), of $14,6€3,000,000, or more than Government owned properti value in 1914, according to th 000,000 more than the total government debt now out standing. A gold reserve of $463,000,000 is held against the note circulation (equivalent to $588,000,000), resulting in a reserve ratio of over 78 per cent. ntina has an area considerably greater than that part of the United States east of the Mis- and has an estimated population o f 10,000,000 persons. Agriculture and live-stock incipal occupations of the country, which is one of the world’s chief exporters of cereals, meat, sue will be used to repay floating debt of the Ar; 1206 and 11207, which govern this issue. stentlally complete the amount authorized to be issued under such laws. The Argentine’ be) has been authorized by Doctor Honorio Pueyrredon, Ambassador of the Government of the Argen- tine Nation, at Washington, D. C. The Govern- ien on any of its ntine Government as pro- This issue of bonds will sub- as compared with the national wealth, ac- (including revenue producing investments of ame census, of $1,125,000,000, or about $146,- The foreign trade of Argentina is greater than that of any other Latin American country, During the past few years its purchases from the United States have be en larger than the combined largest South American customers of the United States. valued at $976,000,000, its imports at $800,000,000, repulting in a favorable trade balance of over $176,000,000. The improving Argentine trade balarice during the past eighteen months, has resulted in a steady rise in value of the Argentine paper peso, which is now- quoted in New York at about 95 per cent of z have recently been taken to prepare the way for a comp lete restoration of the gold standard the Argentine prior to 1914. Application is to be made to list the above Bonds on the New York Stock Exchange. urchases of the three next merch exports in 1924 were Measares ich existed in THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO THE CONDITIONS STATED BELOW, AT 96%% AND ACCRUED INTEREST, TO YIELD ABOUT 6.25% TO MATURITY. J. P. MORGAN & CO. New York, September 22, 1925. Subscription books will be opened at the office of J. P. Morgan & Co. at 10 o’clock A. M., Tuesday, Septembder 22, 1925, and will be closed in their discretion. The right is reserved to reject any and all applications, and also, in any case, to award a smaller amount than applied for. All subseriptions will be received subject to the issue and delivery to us of the Bonds as planned. The amounts due on allotments will be payable at the office of J. P. Morgan & Co., in New York funds to their order, and the date of payment (on or about October 5, 1925) will be stated in the notices of allotment. Temporary Bonds or Interim Receipts, exchangeable for definitive Bonds when prepared, are to be delivered. THE NATIONAL CITY COMPANY