Evening Star Newspaper, October 3, 1925, Page 27

FINANCIAL. HOLIDAY TURKEYS 10 BE PLENTIFUL Great Many Small Birds in Nearby States—Eggs and Butter Higher. Poultry dealers already : 1hought to the question of supplies of turkeys for the Thanksgivins: season. & great many small turkesy lund and Virginia, but there will be no scarcity lurger ones for the appr Gay. Last vear heavy stock was not plentiful early in”the season, due, it \\as reported spell of we weather in Later 11 Jarger turkevs by rtiful vheaper prices r d until the close the season. Week's Prices Steady. Dealers reported no decrease prices of commodities this we ter, nd poultry prices wer upplies of whing holi: o Changes it s were evi of cant pples were repor hile the supply o aind that of pears onl nday’s Wholesale P tub, ble pric pplies nornin, ght moderat i £ 1ze white Tec alive--Lar small S fowls, Iambs Spring | Fruit a Today's vegetables News Ser onomics nd Vegetable Review. wrket report on fruits o Supplies liberal mostly | 1.00a1 Virgi to medium si vland and varieties. medium best, 1.2 i; poor Washington, ney Delicious, medium to large si mostly 4.00; extra fa Jor to large sizes, mostly 2.85. mand moderate, market York, bulk per cwt., type. mostly 1.50. Jurge sizes, boxes, de New Mound Grape Market Steady. Grapes—Supplies i moderate, market York Concords, der ady climax 1 climax d Niagar bias- Onions— light. market New York large maderate; steady fancy, 1 <hel bask 5; bushel s f: condition, demand maoderate; ly de. New Cantalc mand mod» , Porto £.002 Cantaloupes mand _slow, market dull k Meats, jumbo flat ; standard flats, standard ate; de- Colorado, Honey standard | : demand W Yorl EVERYMAN’S INVESTMENT Effect of Funding War Debts. 1t seems proper to say a few wo ut the effect upon the investment gz of forelgn goverr 1s bonds | BY WILLIAM ¥. HEFFERNA NEW YORK, October 3. the many false st three © Owing to ts during the nths in the oil shares, \ St was at a loss te to deter- mine whether the upwurd movement {in these shares Thurs: and a | Friday was anyihing more than ttempt on ihe part of professional lement to susta ing their ut when the buyink cc ued in today there aj litle doubt that the ady actual r | | | | | frort: s session NEW YO is an offic list | Stocks traded in on | Curb Market today ~Follow - bonds_and New York of the | & r Cem Giye P States P Airl Ga Al B3t RFE 1 - T & ol 0 101 14 I | | | | m Den 5 Fried 1, > Banic' Den 63 100 040 o B 103 s i i 104 e Tk 05% STANDARD OIL 1SSU | ) imp 01 (um new s el 3 8160570 100 S O iclid O Co, m il Cos 50 Guit 0 of Pa cnts 1o = oy EoSEEEE o © n Por Wileox 0 & G b, = Woodley Pet. . ; & Trac .. Bt &% v Rayon Prod peoxoisicaie A R GrE TR S 5Bord & THord & -Am To) ri-Am T F 200 Com P O % Consol G 13 new 41% - 318 > Coutinen. Bak A 140 137 % 148 Continen Bak B. % i g, n the general list by THE EVENING STAR, WASHINGTO NEW YORK CURB MARKET l Received by Private Wire Direct to The Star Office | better in the statistical position of the ‘uU industry. An outstanding feature in the indus U trial section was the excited buying of Baking class B The 38 on a block of 13. shares und ran up easily to around but the demand subsided later. Public utilities continued in demand under leadership of American Su Power, up almost a point, and ‘nited Light and Power class A, up e than 2 points al “The rul e and tire ? n, advanc | Continental |stock opened ut | 00 K ped b Ine INEN i 10 Dibilier ¢ & Rad 1730 Intl 1 ! Mot otor Truck Inspect M. T N o G&E new A Ry Sig n A ette S R L Pow & R Alden_( Tiry den Chem Hood Rubher. 5 Horn & Hardart 1 Poy: & Lt pid Intt Contl Ruh Intl Match € pf Tute i i Intarn Uul B Jones Radio . Kelvinator C Land l:x"' RCh stra Maytag Co Midla B 5 Ohio Bower Ont'LL& P Stated Pow A 5 States Pw 1) Tons, 4 Ohtio Tract pf. . N2 6 Outlet A 47 By T vie d Rad 1 b Rad nw'prd A Tapk Car Co Stutz Mot e Cin Corn T a 8k B e .8 Union Carbide 0Ln'G & Imp 'C 59 Un Lt ‘& P A 5Bl Sotar i t & it ot 1w DE Wi Chn P ofw Slohe Cop. . o Copper. | ‘onMinea’ Gold Soldfld Cons . 150 Haw thorne 1 Hollinger a4 {\n\ wv-r Cor. Qhio"Con 20 Mi 15 Wenden SET THE CLOCKS BACK. PARIS, October 3 (#).—France and, Great Britain will simultaneously set their clocks back one hour at midnight tonight, when daylight saving or “Sum- mer time” ends for this vear. {STOCK MARKET MUCH CONFUSED jing. | hav | ber mained strong owing to smallness of | stocks. | textile manufac | Eny D. C, SATURDAY COTTON HITSNEW LOWONTHIS MOVE TRADE NOW NEAR AUTUNN'S PEAK Wholesale Orders Grow, But Retail Sales Need Cool Weather Boost. BY J. C. ROYLE. Special Dispateh to The Star. NEW YORK, October 3.—The throttle of business has been opened | another notch fn the last week, and trade 1s rapidly reaching Autumn : The volume of whole- s and_shipments released since October 1 has been most grat- ifying, but the movement of retail trade has lacked the surge which ap- Fall weather | n one or two dark spo‘s on the horizon which are becoming blucker Instead of lighten- Most lines are operating at nor- mal or better Auto Records Smashed. Tor the fifth consecutive week all previous records for industrial em- ployment in Detroit, a barometer of the automobile Industry, were bro- ken. The total employed there r ed 257.894, in or G0, vary 1. The Buick factori never been so active as at The Chevrolet business is inc Oldsmobile, the Motor Wheel Corpo- ration and the Fisher t speeding up their schedule ken Detroit Axle and Ke ts are active definite imp: steel business Is vef ditions to some exte prices are anticipated b president of the Otis Steel Co James A. Campbell of town Sheet and the Co. bher showed a sizeable increase ovi July and August,” Mr. Campbell said. “And 1 expect the volume of steel business to increase Iron prices dvanced and the t of o coke and other raw materials have increased. Ultimately this will be re flected in higher prices for finished steel. ot December Contracts Drop, Below 23-Cent Level and Weaken Other Months. By the Associated Press. NEW YORK, October 3.—The cot ton market showed renwed weakness early today. After opening steady at | an advance of 1 point on October, | prices then became 2 to 6 points net | lower, easing off under hedge selling, | lquidation or local and Wall Street | selling. December declined to 22.84, active months generally showing net losses of 10 to 18 points by the end of the first hour. The decline to the movement s accompanied by ts of an easier spot basis in Texas, while the bullish sentiment probably was encouraged by the easler ruling of Liverpool. Trade buyings and covering were reported on a scale down, but hedging selling appeared to be more active than pre- this weel New Yory cotton net declines of 16 to v ground for itures closed casy at | December Orening and Tim- ey Wheel Quotations. NEW ORL October 3 (&) The cotton market had a fairly ste opening, notwithstanding that Li pool wis lower than due. First trs showed losses of 2 1o ¥ ints and | York Droke through the oo -lon the opening, and this !he'\ Il . | Eether wxlrh fair weather in the helt | as a whole, caused prices to ease off further right after the opening call December traded down tc January to ad March to arket is still dominated b movement of th 15 exports today, 4 Cotton futures closed b the con- | steel Kulas, svement in Steel {s running at and Trumbull Steel fs operating at the rate 40,000 tons of finished steel | a month | Stril Now Being Fel The effects of the anthracite strike |y are beginning to bear down on both operators and miners. The cost of keeping the mines in condition is a heavy burden, and mine workers re- flected the effects of ing off wages by disciplining n who accept employment at less than those approved by their organiza. tion. Bituminous production con- tinues heavy. In some isolated sections the Fall letup in bullding has made its ap pearance. hut in most communities construction continues unabated, and will be aided by settlement of the brick s und plasterers’ dispute. Contractors in Florida are rushing their jobs to completion before Janu ary 1. paying honus for overtime. Lumber Demand Falls Off. Lumber demand, production and shipments fell off from last week, but new business was larger than at this time Jast year Export inquiry for copper down and prices for the kened slightly. Lead and z steady, with production not enough 1o depress quota- tions Operations have been reduced 5 to 10 per cent in some of the rub- | its, owing to a ecut in replac. | demand, but crude rubber re. apacity Japanese Living Cost Drops. The cost of living in J ary, according made public. toodstuffs is considerably condition to figures rec id to have been by the present fin and’ the Wnprovement ided 1cfal in WE FINANCE —all classes of income-producing property Large Loans a Specialty Current int. rate and commission. Higbie & Rlchardson, Inc. 816 15th St Money to Loan Secured by firet deed of trust on Freriing tofer o] Tomn 1 Joseph I. Weller {1 "ih & 4 10 When You Need a Loan Think of WELCH, Loan Specialist Money to Loan At 5% and 6% INTEREST Before Placing or Renewinz 18t or 2nd Trust Consult WELCH, Realtor Loan Speclalist Quick Relles Redsonable Charzes 15th 8 N. Y. Ave. M. 4346-4347 ment Depression of cotton prices checked retail buying in the South, but aided irers, especially New and. Rains which filled the streams and relieved the hydro-elec- trie power shortage helped the South- ern goods producers. Worsted mills of the American Woolen Company now are working up to about S0 per lcent of capacity operation. Demand | for g and electricity was about 15 per cent above that for the corres- ponding time of 1924. Sugar Prices Still Lower. Electric equipment sales are in- creasing and some additional plants will be converted immediately to the manufacture of electric locomotives. | Tanners expanding operation un- der the stimulus of firm hide and leather prices due to activity in the choe trade. Live stock prices are firm | and growers and packers probably will | enjoy the best vear since 1920. | Petroleum production continues to hold around 2,100,000 barrels weekly, and while demand is strong prices for the country as a whole still are | not equalized. Raw silk is high and manufactured goods are beginning to | advance. The oversupply of sugar was re- flected in the low price levels of the raw sugar market and a reduction in refined quotations. Car loadings were heavy. TOBACCO SALES HEAVY. Maryland Demand Nearly Equal Your, Second Trust Securities Yielding 10% to 16% Yearly Well Secured 2 notes, $1,850, 7%, $25 mo.. at $1,380 each. 1 note, $3,500, 7%, $35 mo., 1 year, 8% discount. 1 note, $1,400, 6%, $30 mo. Also several other notes All, Subject to Prior Sale. ‘Weekly List Mailed by Request Anchor Realty Corporation Southern Bldg. OCTOBER 3 | FIRST TRUST NOTES FOR SALE In denominations of $250 and, upward, bearing 6%:% See Mr. Field 'Hedges & Middleton, Inc. 1412 Eye St. N.W. Franklin 9503 interest. || ||/ Secured’ on improved properties. UNLIMITED FUNDS Available for FIRST TRUST LOANS Residential or Business Pro Construction Loans Made Quick Action N. L. SANSBURY CO., INC. 1418 Eye St. N\W. Main 5804 The drop in prices of | to New Offerings. Special Dispatch to The Star. BALTIMORE, October 3.—Receipts of Maryland leaf tobacco this week For Investors When You Have Funds to Invest, Consult WELCH, Loan Specialist Established 1899 6% and 7% Real Estate Notes for Sale in Amounts from $250 up to $1,000 or More. Consult Welch, Realtor Loan Specialist 15th & N. Y. Ave. Main 4347 WANTED! SFCOND TRUST NOTES Funds avatiable fo chase of thin.gtnn Investment and Transactions Co. 15 14th 8t. N.W. Why Be Satisfied With 3% or 49, When You Can Safely Get 0, 1% go Notes on Nort property whi “d at_double the amount This opportunity sho o to evershody-—or an'amount from $ Get In_touch with Mr. Kelly, manager of our Loun’ Department. who will expluin in detall to you. M‘KEEVER -l GOSS 1415 K St. Main 4752 FINANCIAL l Prompt Action {First Mortgage Loans | Lowest Raten of Intercst and Commission | Thomas J. Fisher & Company, Inc. 38 16th Street FIRST MORTGAGES FOR SALE Denor ations of $250, $500 $750, $1,000 and Upwards /4 625 All_Loans >Made Located FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President on Property the District of Columbia JAMESF. SHEA 643 Louisiana Ave. N.W. Well, Here’s October— A Great Month In Which to Live— BUT As Mark Twain Once Said: “This is one of the peculiarly dangerous months in which to speculate in stocks. The others are July, January, September, April. August. May. March, February, December, June and November.” October, in addition, is one of the BEST MONTHS to make a non-speculative INVESTMENT. Buy our Lirst Mortgage Notes of mind because of the safety vestment. We Have Never Lost a Dollar for Any Investor MORTGAGE INVESTMENT DEPT. & LUCHS) Main 2315 ral retn CREATING AN INCOME “Save and invest,” way to create an income it the investments selected are thor- sound. OUR FIRST MORTGAGES stood the test of time and ith oughly Guer have » careful scrutinv c Quartei the careful scrutiny of 1 of a la and small investors. Gantiin With the absolute safety of Without a Loss principal and the certainty of vield, these investments war rant your consideration. B. F. SAUL CO. Main 2100 925 15th St. N.W. When we were forty--- 1909 LTHOUGH the Wright brothers had earlier established the foundation for flying, it was not until 1909 that the success of aeronautics was firmly assured. In that year M. Bleriot flew the first airplane across the English Channel, and won the London Daily Mail £1,000. of the funding of the prize of during and just after the war of the | sbts incurred | totaled 1,266 hogsheads, with sales of 1,141 hogsheads, which indicates the AS WEEK DRAWS TOWARD CLOSE demand is nearl; uropean powers to the g \s this Is written, tlons covering the pay ae h heen completed cases while in others the still unsettled The first reaction .,r the investor to the announcement that a forelgn gov- ernment has recogniz 4 1 oblis of its character and ha terms of payment is k The credit of the cerned is at once raise izens are more ready to m loans once they know that these old- er debts have been cared fc a measure theré is justification this attitude, but is it not the factor in the problem. Whether or not a_foreign govern- ment bond s a good investment de- N two considerations. the willingness of the creditor to pay and the other ability to pa Now the good faith of a for recognizing its to the American sgreeing to make payments thereon indicates its willlngness to take a imilar _course with regard to ¢ bts, but it does not increase its lity to take care of these other bis. That is a subject to which tast as much if mot more attentlon should be given by the individual who poses to buy foreign government bonds as before. Fiven though payments on war-time debts are spread out over a half-century and even though the Interest rafe s very low it adds that much to the outgo and by that much makes more difficult a balanced bud- %et. This ought to be self-evident to the most inexperfenced in financial affairs, but there is grave danger of belng overlooked just now. Nothing is more certain than that the United States, through private investors, will be called upon for a negoti of the: in some these forelgn governments. Many oppo! 1unities along this line will be at once safe and profitable, but many others will_carry a good deal of risk which should be carefully appraised in all its aspects if the investment is not to be regretted. (Coprrisht. 1925.) matter s | M| Dealings And in | one | United | BY STUART P. WE! Dispatch to The Star. W YORK, October 3.—In the 1tial situation during the last the interesting episodes were even stock markets here and abroad, the dwindling activity in the investment bond list and the higher rates for money. in" stocks reached the of the vear. This Increased accompanied by higher v in the period, by lower prices later and by a very much mix- rKet as the week went on. as no doubt that a lot of sell- i as taking place, but there was no doubt also that there was a lot of 1 huying. Stocks were being sold, were not being pressed for was why individual shares | were going up without carrying along | with them the main body. America Does Not Want Gold. Reduction in the Bank of England rate from 41z to 4 per cent was the important incident of the week. There | had been some fear of the ralsing of |the American Federal reserve redis- |count rate. This had been talked {about for weeks. The discount rate in London went down, the money rate in New York went up. The American | market, despite the fact that it is a creditor, does mot want to import | gold. It would prefer to continue the | present policy of arranging credit | balances through subscription to for- eign bonds. Crop Estimates Go Astray. There has been no year in a very long while where crop estimates have gone far astray as they have this vear. The cotton trade greatly overes- timated the condition of the crop on September 1. It just as badly under- estimated the condition on September 15 The grain trade went through the late Summer with the idea that wheat and corn had been badly damaged and that the Canadian and other com- petitive crops were by no means as large as they had been represented to be. | 'The mistake was suddenly discov- Speci largest | ered. The Canadian harvest and the vield of the importing countries in Europe proved to be beyond calcula- tions. All this has meant a revision of price estimates. Corn, as compared with a year ago, is down rather badly and the same is true of other grains with the exception of wheat, which is practically unchanged. Buying Power Unchanged. i Meat products provide an offset because they are considerably higher. Therefore, taking in agricultural con- ditions as a whole, the proper state- ment would seem to be that they have lost in some directions and have gained in others, and, on_the whole, are very little changed. The buying power might be estimated as practi- cally what it was 12 months ago. Débt Negotiations Ignored. The French war debt negotiations have temporarily broken down. If there had been a feeling that this was a matter of more than transitory consequence undoubtedly there would hav been more reflection in the markets. As it was, the decline in French exchange was slight by com- parison with the movements of the last three years and the drop in French dollar bonds was trifling. Higher Money Not Significant. Higher money rates during the last week have not discouraged the speculation on the Stock Exchange because supposedly they have been due to passing causes—that is, the October 1 corporation settlements. The 6 per cent call loan figure seems high, but it is not high in comparison with the money rate in June. The whole question is whether or not the little flufry in money is the result of Wall street speculation. The market does not believe it is. The New York Federal Reserve ratlo is more than 72 per cent. In highly inflated times like 1919 it was in the low 40s. Consequently the financial community finds it hard to believe that the money market is a serious [AtOF Copsrisnt: 1025 equal to the new offerings. Prices are holding fairly firm at the somewhat lower level for good grades. Maryland prices per 100 pounds— Inferior und frosted, firm leaf, 4.00a 9.00; sound common and greenish, 0.00215.00; good common, 16.00a25.00° medium, 26.00a35.00; good to fine red, 36.00253.00; fancy, 54.00a55.00; sec: onds, common to medium, 6.00a20.00; seconds, good to fine, 31.00a35.00; per country, alr cured, 8. ground leaves, new, nominal. 6'2% First Mortgage Notes Denominations of $100 and Up— See Mr. O’Donnell, Mgr. Mortaage Department FRITZ COMPANY J 14th & K Main 9080 Query the Promoter. Determine how much of -Inis own money the promoter is putting into his scheme before you decide to risk yours. Don't take his word for it— rate him prove it The New York Life Insurance Co. Offers to Make First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Maryland Suburbs for 3, 5 or 10 year Periods. 912% ON APPROVED SECURITY Apply RANDALL H. HAGNER & COMPANY MORTGAGE LoAN GORRESPONDENT Ao 32 Qonmecticut Hoenue: Houses Business Properties Apartments Office Buildings The invention of the airplane came _when the Swartzell, Rheem and Hensey Company had moved into its present building at 727 Fifteenth street, and where at forty its first mortgage business was increasing by leaps and bounds. The same conservatism which had prevailed for two score years was being rewarded by the increasing demand for their in- vestments. Today, at 6159, our first mortgage notes are a profitnb]e as well as safe means of investing money, whether in large or small amounts. Swartzell Rheem &Hensey G, Mortgage Bankers 727-15 Slreet.NW WashingtonD.C. 186)—Fif ty-six years without 30ss to an investor—1925