Evening Star Newspaper, October 1, 1925, Page 29

FIN ANCIAL. T NEW YORK CURB MARKET HE EVENING STAR, WASHINGTON, D. (., THURSDAY, OCTOBER 1, 1925. R i 29 STRENGTH SH[]WN SAYS SUU]’H NEEDS Sauerkraut Plays [EUHUN H”UR[S Demand for Coke |WORLD'S COCOA TRADE INMEAT MARKET Activity Partly Due to Cooler Weather—Eggs and Butter Unchanged. Increased activity in the meat mar- ket is reported. Because of increased sales, packers are ning up _their stock, and the market iy steady on today’s quotations. With the vacation perind over and harvest-time activity at its height, the wholesale meat trade during the month just ended has shown consider- able improvement, according to the Institute of American Meat Packers' market review, issued here today. ““This,” the Institute continues, “has been true of both beef and pork. The demand for practically all meat prod- ucts has become more active and the markets have strengthened slightly. Fresh pork cuts and bacon especially were in strong demand. A scarcity developed of light pork cuts of practi- cally all kinds—hams, hacon and fresh pork—which resulted in _stronger prices for these cuts, and offered op- portunity for the consumer to econ- omize by utilizing the heavier cuts. Weather Aids Sales. “The foreign demand for American pork products showed considerable improvement compared with the demand during August. Prices in the Tnited Kingdom improved.” Beef was quoted at Center Market at 18, lambs at 30 and 32 and veal at 20 and 22. Top calves were quoted Live hog and dressed at 22 and Cool weather has m mand for me and weather app: it lelieved still further activity will materialize. Wholesale 53; eal de a better de- ts, When Winter rs it is Prices. prints, 55; Today's Butter—Fancy, tub, store packed, 35. Eggs—Fancy selecte 42; average receipts Poultry -— Alive large, 28a30: small 15 keys, 30; geose, Spring chickens, 1 turkeys, Li Spring, 16; hogs, Meat—Beef, 1 lambs, 30 smoked shoulders, hams, 30a32. Fruit and Vegetable Review. Today’s market report on fruits and vegetables (compiled by the Mar- ket News Service Bureau of Agri- cultural Economics) Apples—Supplies liberal; demand limited, market steady; bushel kets, Maryland, No. 1, Jonathav inches, 21; inches, Maryland and Virginia large size, 1 1.50; No. 1, various to large sizes, T5al ington, extra fancy Del to large sizes, 4.00a4.25; extra fancy Jonathans, medium to large size: 8.00a3 ‘Winter bananas, combin; tion extra fancy and fancy medium to large sizes, 2.50a2.75; C grade, large size, 2.50, Cabbage—Supplies mand light, market fairly steady: New York, bulk per cwt., domestic round type, mostly 1.50; a few low as g 40; Spring heavy candled, 40a storage, 38, chickens, fowls, Boxes, Wash- ious, medium moderate; de- apes—Supplies moderate, market steady; New Concords, 12-qt. cli 1skets, most 1.05; 2-qt. climax baskets, 25a28; a few low as 23; California, crates and lug: Flame Tokay: 1 75 Lettuce — F supplies very light, no sales reported; Western sup plies’ moderate; demand moderate, market strong; Colorado, crates, Ice- berg type, 4 dozen, fair quall condition, 4.50; California, crates, Ice. berg type, 4 and 4% dozen, most 5.50. liberal; demand Onions Cheaper Today. Onfons—Supplies liberal: demand light, market slightly weaker; New York, 100-pound sacks, Yellows, United States, No. 1. 2.65a2.75, mostly 2.65; Massachusetts, 100-pound sacks, Yel- lows, United Stat 1, 2.60a2.65. Peaches—Supplies very light; de- mand slow, market dull, very few sales; New York, bushel haskets E ber: medium to large s 1.50a 2.00. Pears—Supplies moderate; demand moderate, market steadv: Washington and Oregon, boxes, Bartletts, fancy, 8.50n4.00; New York, bushel baskets. Bartletts, mostly 3.00: Seckels, fancy, 2.7528.00; 2.00a2.25. Potatoes—Supplies liberal; moderate, market slightly New York, 150-Ib. sacks, round white: 1. 8. No. 1. 8 mostly 3.65; Michigan, 150-1b. . Russet Rurals, U. §. No. 1, 3.60a3.65. Sweet Potatoes—. mand moderate, 1 demand upplies light; de- arket steady; Mar: Jand, East Shore, bushel hampers, yellows, No. 1, 1.75a2.00; mostly 1.75. Melon Market Weak. Cantaloupes—Supplies liberal; _de- mand very slow, market weak; Colo- rado, pink meats, standard flats, 12s and 15s, 95a1.15; salmon tints, stand- ards, 45, 1.50a2.00; Nevada, Hearts of Gold, standards, 36s. 2.00a2.25; jumbo, 278 and 36s, 2. 50; Colorado, Honey Dews, standard crates, 1.75a2.00; few 2.25 Celery—Supplies moderate; demand moderate, market v; New York, 2.3 crates in the rough. mostly 2.00. Tomatoes—Homegrown supplies mod- erate; demand moderate, market steady; homegrown, 4-bushel hamp- ers, 501%a65. Lima Beans—Homegrown moderate; demand moderat steady; Homegrown. mostly 25 per quart. ST. LOUIS STARTS FIGHT ON WILD GRAIN TRADING ST. LOUIS, Mo., October 1 (P).— Changes in rules of the St. Louis Mer- chants Exchange, providing for a check on wide price swings, were un- der consideration toda. The Merchants E nge is one of several boards of trade dealing in northern wheat futures, which were asked by Secretary of Agriculture Jardine to revise their rules. RAILROAD EQUIPMENT ORDERS UNDER YEAR AGO NEW YORK, October 1 (#).—Rail- road equipment orders in September were larger than the month before, but far below the volume in Septem: ber last year. The month’s total com- plled by Railway Age was 97 locomo- tives, 6,163 freight cars and 37 passen- ger cars, compared with 115 locomo- tives, 22,848 freight and 250 passen- ger cars a vear ago. Orders in Au- gust was 26 locomotives, 2,816 freight and 9 passenger cars. For the nine month this vear 614 locomotives, 46,240 freight &nd 874 passenger cars were ordered in contrast to 1,005 lo- comotives, 103,483 freight and 1,405 passenger cars in the same period of 1924, supplies market crates, 32-quart FLOUR SHIPMENTS OFF. MINNEAPOLIS, October 1 (Special). —Shipments of flour from this center in the last month were 7 per cent smaller than in September, 1924, «hile flour production was about 1 per cent less. Piping crows, natives of Australia, can whistle and talk and are bold enough to attack men and dogs. York | weaker; | BY WILLIAM F. HEFFERNAN. NEW YORK, October 1.—A sharp upturn {n Western Power on the curhb exchange today accompanted a stmi- lar movement in North Amerfean on the big board and followed the state- ment by the latter company that sufficlent stock had already heen de- posited to assure the consummation of the plan for the acquisition of con- trol of Western Power Corporation by the North Amerfcan Co. Power closed Wednesday at 74%. To- day it changed hands, mos time around 77. RO 1t was plainly evident from the ac- tion of the oil sh: ren i ares that a different view {s belng taken toward the out- look for earnings during the remain. der of the year. These stocks were Sales in BONDS, thousan, ftich. Lo i it H A 245 FTEN 10678 07 4y 10113 4 it Bia k) 00 104 B oo 08 b i a0 S8 Am ol 'Ming Be 151 1 B0 G &K un ity 1450 S i B Bhs 2 AU E e dne oot D W 5 rirolt Ed e B! neral Pet s, 3 General bet S 33 Kans C T 5 Keve T 0 3 NAL Distil 212 Nor SFT 1 Park & Tiford 11 Penn P & 1, 13 bewn bl & 3 Phila Rapi 10 Prilp AL 1 Philipp 11 Pure Ou 1 Seah Airl s Wi §Sou Cal Fi e NSouthen P& L. i Sk el 61 “pron Rub Rub Rub Rub Run it Rub i 4 Vacuum 01l Nethl tis 54 B 1061 s'Ciz 101 1011 10013 00 ¢ 100 fi b il iy N 1084 | 8O% RHEN 80 100 903 1081, 100 o8 o Aus’ 7 G Gaw N et iem & Hal 7, Siem & Hal 30 Thys Ir 11 Toho, Licht 68 STANDARD OIL ISSU. in unite. 1200 Anclo Am Oi1. . 10 Buckeye P L 2600 Continent” OIl nw 100 Crescent P L. 10 Cumberland P (B0Gal S O pt new 2100 Humble Oil & R. 400 Imp 0 of ¢ 100 Tnd P L 2000 Inter Pet’ ¢ 'Lid 130 Magnolia Pet thern o 0il 3 0 Prairie O & G o 330 Prairie POL. 1300 8°0 'Tnd + 3005 0 Kentucky 108 O Nehraska. . 11008 0 N ¥ 5100 217, 814 Sales INDEPENDENT in hundreds. Am Contr. Oilfids I Cardinal Pete ... 13 Carib Synd 2% Cities Serv ne 131 Columbian 'S 2 Creole Synd 3 Crown Cant Pet Derby Pet.. . ihaon_ Oil ‘Corp. Guif Ol of Pa.. ago Pet.. ... 1Mex Panuco Mount Prod. .| New Brad O ex-d o S o e 2 PR R SRR T Peer O1l Corp éshington Stock Excfia SALES. ashington Gas 5. ashington Gas B W W Wash, at 102% Capital Traction. Co-—30 at 99%. 20 at 035: 3 at 001y 30 &t 0% Washington Gas Light—10 at 641, Wash. Rwy. & Elec: com—10 at 160, Wash. Rwy. & Eloc, pid—50 at R3% Amer. Secufity & Trust Co—1 at 3 10 nge at 300, 1 at 38N, Larston Monotype—20 at 85, 10 at 85. Mecgenthaler Linotspe—4 at 187% AFTER CALL. Waeh, Ruw: Y. & Elee. x $5.000 4t 1033 C. Paper Mfd fs—s! Capital Traction 5s—$ National M. & Inv. pfd Federal Amer. National Morgenthi 1885 at 18 Wash. Market Co—50 at 52 Mergenthaler Linotype—10'at 188%. Capital Traction 5s—$5.000 at 99% . CORRECTION. The salo as of yesterday. Mergenthaler Linotype. 5 at 187, 3 at 187. whould read 5at 180%. 6 at 186%. Money—Call loans. 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. American Tel. & American Tel, & Am. Tel, & Tel. ctl. Anacostia_ & Potowar 5y Ana. & Potomac guas C..& P. Telephone 8¢ & P Telephone of Va, Capital Traction R, R. City & Suburban 5 George: at 85, 1001 100 08 Pow. g. m. & CAlex. & MLV Washingto | Washington Gas_@is. h., Rwy. & El . Rwy. & E MISC D. C. Paper_Co. Us. Lot Jeint Stock 1 Tk iy STOCKS. PUBLIC UTILITY. Americap Tel. & Telga Capital Traction. . Washington Gas o000 10 anh Stfambont ] & Flee. com Wash Rwg. & F Terminal Taxi com National Capital. Columbia Commereial District ... Sahe Thiets & Méchanics’ America Tun s 856y Federal jcan Securit Amtihental Trmst. ... erchan S S toneal Saviines & Triist T TRl Wash. Tonn & st SAVINGS BANK. ree Savings. Font Washington eII?l“ ‘ Tied siten: o Ml TITLE INSU! Columbla Tigle.... .. Real Estate Title. MISCELLANEOUS. D. C. Paper pfd Merchants' Trans. Morgenthaler Li Natl. Mtze, & In 0ld Duteh Market com. Old Dutch Market pfd.. Lanston Monotype. [ year ago. ccelved by Private Wire Direct to The Star Offica IO it s in active demand today under leader- ship of Vacuum and Humble Ol Wwhich were up 2 to 3 points, and Magnolia Petroleum among the high- priced members, which gained 10 points, to 150. The best judgment was that previ- ous estimates on earnings for 1925 had gone astray and that despite the series of price cuts put into effect earlier in the year most of these companies’ earnings would compare favorably with those for 1924. The break In Land Company of Florida shares from 67% to below 62 before support was encountered, was not surprising in_view of the active speculation on the buying side ‘re- cently. The activity In Kay pper accompanied the report that British interests were seeking to acquire a block of the stock. e 2 Pennok_0il Corp. D Reiter-Foster Oil. &K 0 Oil : zuelai Pet! INDUSTRIALS. Adirond Pow ... 72 Adiromd P 7s pfd 10° Allied Pack new Am Gas & El. Am Gas & £ ptd Am Hawailan €8 Am L & Trac Am Pow & L nw Am Pow & L nt Am Ravon Prod Am Dow A 1% It 2 At Fruit i 20 Atlas P C new. 41 Schw Cig A 1 Bridgeport Mach 3 Brit-Am Tob Cou 1 HricAm 1'C Reg 1 Bklyn City R 35 Bucyrus Co ... n ptd &L 3 Hure Ad M 5 Fixnt WL Pipe Cor “hic Nip ) Tt Christie Brn & C Com P C new Com P new pid m P C war. or Jobn T € ox G " Dal new Bak' A Dak B.D 1 Vi Aero M vie! Dow Chemical. .. Dubi L Durant Motor. . . Eienlobr & Hros Elec Auto Lite. =32 g Z2IRSERNE F3 o FERE Serv... 21 i Pub S PP pf 101 rela Vacuum. ol Motors S g P fillette 8 Lt & Pow .. Alden Caal 355 RS mwZy Tappiness ¢ St A Happiness C St B Hazeltme Cor Hood Rubber . Horn & Hardart Inter Contl Rub Mateh € pl n R C. Uil A Intern Utit B! vinator C Kraft Cheese 3 pond o Wi 9. 67 Coh Pow mee vie 146 Lehigh Coal Lehigh Val CNC. Flmazl SIS S S AE LTI e i ooz 2o RS SR » kS 60 K1 an i auf 1 10i% " pr lien 104% 104 Midvale € 19 Miller Ruhber . 23014 Misa River Pow oore Do Farg A Motion Pic Can C Mu Rad Radio Music Master C Nat Pow & Lt t Pub Ser A at Pub Ser L Tea Nick Pl new wi izer Corp A P Co ptd llh 13 k3 Outler Co 401 Outlet e ¢ 181 1 Purity _Bak 15 Rem Noisl 'TCA 1 Repub Mot T vie 1 Repetti Candy 2 Reo Mot 5 9 Richmond ‘Rad 'n 103 Rickenbacker 6 Rova Radio .. 7y Safe € H & Lt 5 Seagrave Corn. | 1South 6 & P A’ 2 Southeast P & 4 Southe P & L 193 Sou Cal E a 40 So 40 0 Daries A. Dairios A outhwest Bell f ' om; S vte. Tob Prod Export 24 Trans Lux Pie A B Trombull Steel.”. 19 Union Carbide . ATn G & Imp C Lt& P A Pft_Shar 1. ctor_Talle Mch SR Eeet-Biget 3 FEET 25 15 Weat Pow efs dp 5 Wi & ¢ nw Wi 2 §Yel Taxi C'N Y. 13% MINING STOCKS. averas Cop.. 17% ns Cop Mines. ez, Silver - - M Lud 10 Cromsus D D2 9 3 Gold_Cent Mines 20 Goldfid Cons_. .. 4 Hawthorne M " T 2 Hollinger ... .. X 3 zine. B Nipissing 1 Ohio ¢ & 50 Spearhead Gold.. 2 Tono Beimont. . . I oo Mining. - - ni East Mining o Wenden Copper. - NEW STEEL INGOT FACTS SOUGHT BY COMMITTEE NEW YORK, October 1 (#).—In an effort to determine the possibility of revising records of the country's steel ingot production the American Iron and Steel Institute has appointed a committee to canvass the capacity of all steel works. ¥ James A. Farrell, president of the United States Steel Corporation; John A. Topping, chairman of the Republic Iron and Steel Co., and Eugene G. Grace, president of the Rethlehem Corporation, were chosen for the task. — SOUTHERN DAIRIES SALES. NEW YORK, October 1 (#).—Gross sales of Southern Dairles for the first nine months this year approximated $6.,000,000, compared with $4,300,000 a Net earnings,were $710,000, against $390,000, The recent sharp decline in the “A” and “B” shares, officlals said, was due entirely to the technical position of the market. A strong group is understood to have bought a large block of the stock dur- ing the reaction JOHN H. PRENTICE DEAD. MONTAUK, N. Y., October 1 (#). John H. Prentice, member of the brokerage firm of Clark Dodge & Co. and a director of the Alabama Great Southern and Virginia and South- western Rallroads, died today upon ecurity Storage Vashington Marke Yellow € his arrival here for the opening of the hunting season. He was 60 years old. . MEMBER ON . C. C. Underwood in Plea Before Bankers—Littleton Lauds U. S. Supreme Court. By the Associated Press. ATLANTIC CITY, N. J., October —Plen for representation of the outh on the Interstate Commerce Commission was made by Senator Os- car W. Underwood in an address prepared - for delivery today before the Stute bank division of the Ameri- can Bankers' Association. Fair representation, Senator Under- wood sald, would take the raflroads out of politics, serve the producers of the country and lead to full and factory settlement of the con- ion problem. have no criticism,” he sald, igainst the character, attempts or honesty of the members of the com- missfon, but all of its environment to a greater or less extent affects thelr judgment. Since organization of the commission in 1887 the South and the West, viewed either from the standpoint of territory, population, or production, have been deprived of equal and just representation. If you draw Straight line acgoss the United States from Baltimore to San Franecisco you would find every mem- ber of the present commission was a resident of the territory north of that line at the time of his appoint- ment." avors Railroad Mergers. Referring to demands for treight rates, Senator Underw that only about 8 per cent of the operating revenues of railroads is {available to pay dividends and reduce treight rates. The plan of combining the weak roads with the stronger ones in a lim- ited number of systems, each of which | would survive the making of reason- able rates, he explained, “would un- doubtedly eliminate financial weak- ness, lessen structural instability and stabilize earning power so that a hasis can be adopted for rate making falr to the shipper and adequate to the carrier.” Littleton Praises High Court. Martin W. Littleton, New York at- torney, in an address prepared for de- livery "at the general sesslon, sug- gested the appointment of committ on constitutionality in both houses of Congress, to Juld be referred proposed legislation the constitution- ality of which was questioned. Prece- dents built up by these committes Mr. Littleton believed, would relieve | much of the burden now borne by the courts and eliminate much of the crit- icism now leveled against them. He defended the Supreme Court of the United States. “The pretext that the Supreme Court stands in the way of progress is one which critics do not themselves believe,” he said. “In 133 years the Supreme Court has de. d fnvalid only 49 acts of Con- 5, 310 acts of State Legislatures municipal ordinanc the whole history of the court,” he added, “a division of five o four existed in 30 cases, and in these cases only eight decisions were rendered declaring an act unconsti- tutional The association yesterday adopted resolutions urging perpetuation of the Federal Reserve system through the renewal of its charters on an indeterminate or 99-year basis, with the recommendation that proposed amendments to the Federal Reserve system act be considered separately. Scholarship Fund Assured. The association concluded the gen- er. ssions of its annual convention today with sufficient subscriptions on hand, or promised, to assure the es- tablishment of at least 100 scholarships in economics in_American colleges and universitfes. Total sub- scriptions received,at the beginning of the session were $468,225, but associa- tion officials belleve that sufficlent ad- ditional pledges will be received tos bring the sum to $1,000,000, making 200 scholarships possible, before the campaign is officially ended. Tax Revision Urged. The association went on record late yesterday as favoring the elimination of the Federal estate and gift taxes and of inheritance taxes by States on *intangible personal property of non-residents. “The rechartering of the reserve banks, now that it has become the subject of public discussion, should be taken up promptly and settled, the resolutions said. “Continuing un- certalnty about the future of the sys- tem is sure to prove a grave menace to the progress and prosperity of the country.” Limitation of the resolution to two major subjects, Federal reserve re- lower od said departure from the association’s previ- ous policy in covering a wide range of financial and business subjects in its - so-called ples.” The announced purpose of this was to emphasize their importance. The resolutions, which were present. ed by Evans Woollen of Indianapolis, were ‘adopted without a dissenting voice. New Officers Named. Melvin A. Traylor of Chicago was advanced to the office of first vice president and succeeded as second vice president Thomas R. Preston of Chattanooga, Tenn. If the customary procedure is followed, Mr. Traylor will be elected president of the asso- ciation at next vear's convention, which ‘probably will be held in Los Angeles, Calif., the formal antourice- ment of the next meeting place de- {layed until the December meeting of | the administrative committee. yree F. Baker. chairman of the Bond Interest Compounded ---$70 a year on $1,000 7% and a proportionate re- turn on the smaller denomis tions, of $500 and $100. That is the income you can obtain for any period from 2 to 10 years by investing now in 7% Smith Bonds. Moreover, under our Investment charter and taxation, was a distinet | “declaration of princi- | Part in Lifting Stock 7 Points By the Armoclated Press. NEW YORK, October 1.—Sauer- kraut is playlng a part in market transactions, the rise of 7 points in shayes of the New York Canners Corporation to a new high record of 57% being attributed to anticl- pated profits from 300 acres of cab- bage under cultivation. The yléld is sald to be about 6,000 tons, with the market price at $10 a ton, in contrast to $3.50 a ton last year. The company packs a varlety of vegetables. Firat Natlonal Bank of New York, one of the 17 original founders of the soclation 50 years ago and its first treasurer, was given a hearty welcome when he ‘stepped on the platform. “I can't make a speech to you, but I do want to thank you very much,” he sald, in acknowledging the greet{ng. Trust Companies Praised. Trust companies represented in the assoclation “are stronger, more pros- perous and have been more useful to the American public than at any time In their history,” Lucius Teter of Chicago, retiring president of the trust company division, stated in his report “We do not know of any case in the past few years,” he added, “in which there has been the slightest loss in connection with a trust through its Improper handiing by a trust com- pany. Francls H. Sisson of New York was elected president to succeed Mr. Teter. Eugene I. Gum of Oklahoma City, Okli, was elected president of the State Secretaries’ Association to suc- ceed William J%. Augustine of Rich- mond, Va. Road Plans Approved. The agricuitural commission of the association expressed its judgment “that the Federal Government should continue its co-operative policy the several States in road construction until such time as the interstate sys- tem of highways, lajd out by ‘agree- ment hetween the Federal Government and the States, has been completed. Subscriptions toward the $500,000 scholarships foundation totaled $313,- 675 at the end of the morning sessfon. Twenty States had raised their full quotas, namely, Alabama, Arkansas, Connecticut, District of Columba, Illi- nois, Kansas, Loulslana, Maryiand, Michigan, Minnesota, Mississippi, Ne. vada, New Jersey, North Carolina, Ohio, Ithode Island, Tennessee, Ver. mont, Virginia and Wisconsin. New Officers Installed. Oscar Wells of Birmingham, Ala., the newly elected president, and other officers were fnstalled. Martin W. Lit- tleton, New York attorney, in an ad dress, urged the appointment of com- mittees on_constitutionality in both houses of Congress as a measure (o lighten in its final effect the burden on the courts. At the meeting of the State bank di vision resolutions were introduced rec- emmending the perpetuation of the ‘ederal Reserve system, urging that action be taken looking toward uni- form State banking laws and reiterat ing “our oft-stated opposition to any stem of branch banking In this coun- ry.t Many Scholarship Gifts. J. P. Morgan & Co. subscribed $10,- 000 toward the educational fund. Sub- seriptions of $5,000 each were made by Andrew W. Mellon, Secretary of the Treasury; George M. Reynolds, Ar- thur Reynolds, John J. Mitchell, F. H. Rawson, M. A. Traylor and George Woodruff of Chicago; A. P. Giannini and Herbert Fleishecker of San Fran- cisco, Waldo Newcomer of Baltimor M. . Nackus of Seattle, Emeroy W. Clark of Detroit, John H. Puelicher of Milwaukee, Frank O. Watts of St. Louis_and others in Philadelphia and New York. Mr. Wells, the new presi- dent, and others subscribed $2,500 each What Experts Buy. Trained investors always buy se- curities that have & substantial loan value. One of the surest methods of determining the value of any stock 15 to seek a loan on it. If your banker declines to consider it as collateral you can rest assured its markotability does not amount to much. Depositors 4 ?o Share Profits Central Sayxings Bank 710 14th St. N. W, Francis M. Savege, President on Savings NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President ';‘om' FXIIY>3 WANTED! SECOND TRUST NOTES rallable for the pur action ehnes of ali Binds of ot n D. Washington Investment and Transactions Co. 715 14th 8t. N.W. Main 2463 Mortgage Notes— Secured by Improved Real Estate In Washington Worth Double The Amount Savings Plan, you may further increase your income by com- pounding yourinterest at the full bond rate. Thus, if you have a $1,000 Smith Bond paying 7%, and simply reinvest the coupons at 7%, you will have, at the end of 10 years, nearly $2,000. Send your name and address on this advertisement for our two booklets, telling the facts about 7% Smith Bonds and explaining our Investment Savings Plan. Ne Loss to Any Investor in 32 Years The F. H. Smith Co. Founded 1873 815 Fifteenth Street--Main 6464 New York Washington, D.C. Pituburgh Philadelphin Minneapolls | o Of the Loan— Interest Rates Today 64 Per Cent— Denominations of $100 to $5,000— Partial Payments Received— Mortgage Investment Dept. [SHANNON & LUCHY)| 713 and 715 14th St. N.W. Main 2345 with | * HARDLY CHANGE Liverpool Cable Easy—Rain in Part of Belt—Private Crop Reports Feared. By the Associated Pre: NEW YORK, October 1.—Cotton futures opened steady; October, 23.07; December, 23.19; January, 22.35; March, 22.60; May, 22.83. The market opened at an advance of 2 points to a decline of 3 points. There was considerable covering on relative- ly steady Liverpool cables and trade buying was again in evidence, but of- ferings were heavy, as prices weak- ened after the call under Wall Street local and Southern selling. December soon mold off from 23.19 to 23.04 and the market later was un- settled, active months showing net losses of 8 to 12 points. The early selling was accompanied by rumors of bearish private crop figures. New Orleans Quotations. NEW ORLEANS, October 1.—The cotton market opened about steady, first trades showing 1 point down to 2 up. Liverpool came in a little bet-| ter than due. Ring sentiment ap- peared bearish and prices eased off 5 to 7 points soon after the openin call, with December at 22.43, Januar at and March at 22.38. The reduction in the Bank of Eng- land rate to 4 per cent was regarded as a bulltsh influence, as it will tend | to prevent any advance in the Federal | reserve rediscount rate. The weather map showed consider- able rain In the West, but little in the Eastern belt. i RAW SUGAR LOWER IN NEW DECLINE NEW YORK, October 1 () —Re- newed weakness developed today in the sugar market when raw sold at 3.93 and refined as low as 5.10, the lowest levels recorded since 19 STEEL PLANTS IMPROVE IN ONLY WEEK’S TIME NEW YORK, October 1 (P).—Sub-| sidlaries of the United States Steel| Corporatlon now are operating close to 80 per cent of capacity, a Kain of | nearly 4 per cent, compared with a week ago. Distinct improvement in demand for steel the last seven days | s reported by the tra’e, accom- panfed by an upward trend in prices. Railroad buying is increasing and de-| mand for tin plate is strong, although October is usually an off season for these mills. DIVIDEND ON COMMON. NEW YORK, October I.W)¥]\|, rectors of the Iron Products Corpora- tion deglared a dividend of 50 cents a share on the common stock, payable October 28 to holders of record O tober 13; A dividena of cents share was paid three months ago | Au Frigidaire does And Soft Coal In Steady Gains Special Dispatch to The Star. BOSTON, October 1.—Coke for heat- ing purposes is in active demand in New England. One producer here is quoting $13 a ton delivered, as against $8.50 for good Connellsville coke at the ovens. PHILADELPHIA, mand for bituminous coal has fn- creased since the anthracite strike tightened up, with a strong call from public utllitles. Spot prices have in- creased 10 to 15 cents a ton. BUTTER PRICES HIGHER. Rates 8 to 12 Cents Above Charges at Same Time Year Ago. Butter prices are 8 to 12 cents per pound higher than at this time last vear, the Natlonal City Bank reports, and ‘storaxe stocks in 26 principal markets recently vere 89,820,935 pounds, against 117,84 399 pounds at the corresponding dat: of last year Hot, dry weather and poor pastures were a factor, but Iuropean markets are correspondingly hizher Although a little Danish butter has come in lately, the cost price landed is above the domestic market aro. pean consumption has been larger. The cheese market also is in good shape, although the make is increas ing. October 1.—De- PHONE EARNINGS UP. Baltinosal Reports Targer Retusns Than Last Year. Special Dispatch to The Star. BALTIMORE. October 1.—Total telephone revenies of the Chesapeake & Potomac Telephone Co. of Balti- more for August amounted to $894,- 710, as compared with $775,781 iy August, 1 the monthly report shows, Expenses for $767,165, as ust of last vear, le phone revenues for 544, as compared with corresponding period of last vear Revenues for the first eigh of this year amounted to $7,251, as agalnst $6,260,682 during the like period of 1924 to ving net tele- month $127,- hs EXPRESS NET DECLINES. NEW YORK, October 1 (®).— Total income the American Rail way Express for the first half of 1925 declined to $140.906,734, compared with $142,183.078 in the same period last year. Net income was $1,030,071 after cxpen express privileges and taxes, against $1,138,679 a vear ago. fiIWDENDS. Stack of Corp Abitibi P & P. W Avpal Pur ol Do, 1st_pf Ak C & ¥ init Balt & Onio. Do. ot D L & W Coal ka P L Penmans Ll To. 1 Postum' Cer W ore and Costs CE melts and must be replen I | bonds, but befo in | $80,701 in the | CENTERS IN NEW YORK New Exchange Opened Today, Using Sugar and Coffee Trad- ing Methods. By the Associated Press. NEW YORK, October 1.—New York became the market center of the world's cocoa trade today, when the New York Cocoa Exchange, the first organization of its kind in the world opened for business. Through its fac ities, trading in raw cocoa, represent- ing ‘transactions of meveral hundred million dollars annuall; will be cen. tralized. Modeled after the New York Cof- fee and Sugar Exchange, the new cocoa trading center s both a spot and future business, dealing in de- liveries for future months as far as a year ahead. The minimum unit of trading will be a 30.000-pound lot, which at present market levels would be valued around $3.500. Seventeen of the 140 active members are located in forelgn countries. Isanc Witkin is president of the new insti- tution. |GLORIDA BOOM HELPS RAILROAD’S EARNINGS NEW YORK., October 1 (#). August gross revenues of the Georgia and Florida Raflway increased to 4, compared with $173,843 in ust. 1924. Surplus was $36.878 expenses Interest on re- and divisional terest on the firat cent_bonds, against ar ago. September gross gained more than 20 per over September last year. mortgage $27.403 earnings ent OVERBUILDING IS SEEN. per Business, Essentfally | Sound, Says New York Report. ial Dispatch to The Star. NEW YORK, October 1.—The busi- situation is essentially sosund, but | there are signs and tendencies of | which it is well to take account. The extent of bt operations this | vear is surpr and suggests the dinger that at the present pace they ay be carried beyond present needs and cause an unprofitable tie-up of capital. Speculation is rife in real estate, particularly suburban prop- erty, in many localities. The branches of the textile industry in which prosperity really abounds are the silk and rayon industries. Im- ports of raw silk in the first eight months of this year aggregated 298, 996 bales, against 216,679 In the cor- responding months of last year, but consumption has been at a higher rate. Stocks were reduced 516 bales in the same time, compared with a reduction of 10,000 bales last year. Prices are fully maintained. However, | so RECORD DODGE OUTPUT. NEW YORK, October 1 (®).— by Dodge Brothers this r will approximate 275,000 cars, the annual output, President said on his departure for today. which compares with in 1924, the previous high The automobile business was never better than it is today, he safd, and from present indications this 1d continue, Havnes 1rope thanlce less ished. With Frigid- aire there is nothing to be replenished. Melting ice produces moisture. Frigidaire is dry. An insufficient ice supply means a rising temp- erature and spoiled foods. Frigidaire is always cold. Icerefrigeration means that you thust constantly remember to order ice—that you must often stay at home until ice has been delivered—that not go away for the week-end foods being spoiled. But Frigidaire is automatic. you can- without perishable It keeps your re-~ {frigerator cold and your foods fresh without the slightest attention. You can leave your house for days at a time—when you return you'll find your foods in the Frigidaire cabinet as fresh as when you put them there. And with all its advantages and increased con- venience, Frigidaire operation usually costs less than ice. We would like to have you see one of the new Frigidaire models we now have on display. Itisa complete, self-contained model—has ample stor- age space for the average family and can be in- stalled for only 9245, plus freig! ht and installation. It can be delivered to your home promptly and con- Venient terms can be arranged DELCO LIGHT WASHINGTON SALI if desired. COMPANY ES BRANCH 1219 “E” STREET N.W. Telephones: Franklin 7157, Franklin 651 ' Prigidaire s made by Delco-Light Company, Dayton, Ohis, Sebsidiary of General Meters Corperatiin Made Manufactu ¥ est rators frig