Evening Star Newspaper, October 5, 1925, Page 25

FI ANCIAL. THE EVENI PRICES OPEN FIRM AT CENTER MARKET Week Begins With Prices Same as on Saturday. Fruits Plentiful. Al commodities iy toda moder Today's Wholesal Review CRUCIBLE STEEL'S NET. NEW YORF steel the « ende the fiscnd preferred SHORT-TERM SECURITIES TREASURY Cl{R'}IFICATES. (Quotat FOREIGN EXCHANGE. Y@uotations furnished by W. R, Hil 1111 000014 15 00014 15 02051 Copenhia Ariatia Siockholm. An {llusionist oved the “s: by surroundin s pan. tee him a in = < et woman with tience to Cith 1| tinental has Y WILLIAM NEW YORK. movement October of char ! today’s trading on the curb prices | Continer u 15,000 shaves record, conshide vious price. But the than offset the carly improvement. The activity in this stock was a direct ! response to the publication of a plan | tor antic baking merger in which compnay is to he included. Since it organization over a year ago Con- 1 adding to its system > of plants throughout the In the proposed new $400, block ot i at a new high above any pre- ter selling more Bukinz, on a by purcha —Follow- of Londs_and the New York October Al list in on today traded b Murket 11003 2 Anslo Am Qi 100 Clisetreh Mix National Mtge & Invest L ation P1d.—30 at 91, AFTER CALL Gas Light—10 at 65%. 10 000 at 1027, 1000 at 903 ngton kw pid—3 at 851 ey—Call lo d 6 per cent Bid and Asked Prices. BONDS. PUBLIC UTILITY. fington Gas ¢ [OSULEN ac Elen 33—S1 0 at 102 Cons, fe— & Ele Bait nington’ Ga naton G Ruy. & 1 Rwy STOCKS. Rwy. & pid NATIONAL BANK. Capital g roial of Washington TRUST COMPANY can Security & Trust.. hington Toan & Trusti SAVINGS BA) Shventh Street . | T : | Washington Mechanics FIRE INSURANCE Nat Columbia Real Estate Ipicis 2 . ante Transier & Stor. Y NEW YORK CURB MARKET l Received by Private Wire Direct The Star Office 000,000 merger it s expected to form a prominent part. Buying of Curtiss Aero at its high for the present move accompanied the report that the 1 nagement, follow- ing the announcement of the succes: ful bidders for the ajr mail contrac to be made this week, expects that the company will receive a number of orders for planes to be used on these routes. Rubber shares after an exceptional show of strength came off in most instances over all the ground gained. This was especlally true of Miller Rubber, which had gained over nine points at the start. Stockholders will meet October 19 to vote on a proposed split up of the present shares on the basis of five for one. \ ot Osie 011 O NV Venezueian & Trac . & Trac pt Laund & M. Pow & L nk Pow & L ptd Rayon Prod Superpow A Superpow Thread C Fruit HAtlag P Cn 1FE W Bliss, 2 Hlackstons V GE Co ptd 1 & Co 8w 1 Brit-Am Tol, Cou 3 Bk L F . Trud ord Mot Co Can 5 Forhan Co_ A Rail Sie 1 w1 thilletis SR odyear Tire mes R & C R pss €S A 2 Lehn Finlk Lib R Ch Strs gy B et &En... 43 3 & TmpC ohry of Light & P A 1503 15 Pft Shar n 148 Shoe Mach ¢ Lt & Ht prd Hub) Reclaim Taik Mach. Conw LG on et n P pf wi Radio er firos P Pow pta Pow ctfs d 1white B M Sp n GWils & C n 1Wilk & C onopt owi 4YVel Taxi € N Y MINING STOCKS Wio D dm Pty 4 Canario Copper. i Cons Cop Mines 13 Croason’ Gold At All Druggists, 75c and $1.25 ADE MARN THE WORLD FAMED §fieruescenl8alt Sates Agonts: HAROLD F. RITCHIE & CO., Iac. 171 Madison, Ave. New York Toronte Sydney Wellington Prepared only by J. C.ENO, Limited, London, Eng. O STAR, OF BREAD UNLIKELY Sales Monopoly Declared Not Aim of Huge Merger. Economies Sought. BY J. C. ROYLE. ch to The Star. NEW YORK, October 5.—Monopoly in the salo of bread is not sought in the formatibn of the General Baking Corporation, Incorporation of which was announced today, according to those nearest to the situation. Neither an advance in bread prices nor the exercise of dominant pressure on the grain and flour market is its object. They declared that they hoped through consolidation of three huge baking concerns to effect economies resulting from handling one of the main ftems of human food on a broad basis of production, distribution and advertising. If the corporation succeasfully con- solidates the Ward Baking Corpors tion, the Continental Buking Corpor: tion'and the General Baking Company, the assets of which have an aggregate value of $400.000,000. it will become the largest baker of bread in the world, with 157 plants employing 500 workers. The output of these plants, however, would amount only to 10 per cent of the bread business of the United States. Calls Monopoly Impossible. William B. Ward, former president of the Ward Baking Corporation and one of the leading movers of the pro posed merger, reiterated to the writer that bread is one commodity in which there can be no mone s “It is the one business,” he “in which your customers are vour competittors. If i housewife ix | not satigfied with the bread she buys, | she can and will bake her own.” In spite of the growth of the sales lof baker's bread, nearly -half the amount consumed still 18 prepared by the housewives of the country Much Financing Seen. Those closely associated with the new corporation dec *d that one reason for the announcement of the proposed merger at this time was | that the price of wheat had dropped | sharply from high levels of the veur. | | They “pointed out that a territic amount of financing would be required | to consumute the merger. Much of the money required they expect | come from the public through sale | of securities and they state frankly | they anticipate less difficulty in this with wheat at its present lovel t | if it were attempted when that sold at or near $2 a bushel Even Prices Predicted. The purchase of raw ma {2 broad scale, they stated, would tend | to stabilize bread prices. since ad vantageous buying in large quantities | | would enable the plants involved to fron out the fluctuations in wheat and flour and make a profit without pass- ling on advance in materfals to bread consumer: They pointed out no general advance in bread had taken place, even with wheat at $2. There seems little that bread prices will be advanced as a result of the contemplated consolidation. The Ward Baking Corporation last week inaugurated a cut in bread prices in Chicago and some other localities. | Mr. Ward states that it is only the | short'sighted baker who fails to saful policy MNes i1 boosting prof wide marg of profit o but in stabilizing prices, food v \suring sanita and increasing consumers. Ward Heavy Investor. 1t ix as yet uncertain just what post tlon Ward will hold in"the new com- pany, but he probubly will be chair- man of its board. At least $2.000,000 | of his money is on deposit here tol guarantee the taking over of the Gen. | eral Baking Co. stock, the first step in the merger, and he is sure to have | # dominant part in framing its policy. | Since he has followed the policy out lined successfully for years, it is doubt- | ful if he would sanction a change in| it now. i The new merger probably will he followed by other consolidation various parts of the country. Many | plants already have been placed under one control management in the Mid- west and the Pacific Northwest to cut overhead. and flour men and bakers | expect wide extension of that policy. (Copyright. 1925.) k WORLD WAR AIDEI;TRADE' 1 Twenty New European States Show Great Activity. NEW YORK, October 5 (#).—Trade of the United States with the 20 new European states established as the re- sult of the World War shows remark- able growth, says the National City Bank of New York. From Azerber- | jan, which heads the alphabetical list, | to Ukraine and Jugoslavia, with which : it ends, all have shown a remarkable | interest in the manufactured prod ucts of this country and a desire loi send their raw materlal in exchange therefor. AUTO FREIGHT HEAVY. | Big Three-Month Business Indi- cated in Detroit. Special Dispatch to The Star. | DETROIT. October 5.—The move- ment was of freight on the Pere Marquette road, regarded as an aeccu- rate measure of the automobile indus. | indicates a busy three months in spect for the motor car manufac ers. Outbound freight movement the last week of September increased 34 per cent and inbound 14 per cent, compared with 1924, eping up ¥ baking The absolute purity, agreeable taste and effec- tive qualities of ENO, taken to promote inner cleanliness, render it de- sirable for and acceptable to young and old alike. Its action is gentle and refreshing. WASHINGTON, D. C. | ADVANCE IN PRICE | | absolute | ment | for ~el | stocks of bagging to ONDAY, ocC TOBER 5, 1925. MILLER STOCK SPLIT-UP PLANS ARE ANNOUNCED NEW YORK, October & (®).—A splitup of the common stocks of Miller Rubber Co. on the basis of 5 for 1 and issuance of $4.000,000 par value 8 per cent cumulative preferred stock will ba voted upon by stock holders on October 19, under a pro posed reorganization plan. Five shares of new 1o par common will be given stockholders for each share of $100 par. Rights to subscribe to the preferred stock are offered at $103.50 o share, on the basis of 4 shares for each %t shares of common held, and expire October 10. The new capital will consist of 400,000 shares of common and 200,000 shares of preferred. EVERYMAN’S INVESTMENTS BY. GEORGE T. HUGH VALUE OF LIBERTY BONDS. Many small investors who bought bonds during the war have disposed of their holdings. sometimes because they needed the money and | sometimes because they wanted to re. invest in something that would give a higher return. Of course, there are also many of these bonds still in the hands of investors of moderate means. Nevertheless Liberty bonds and Treas- ury issues are now loocked upon pri marily as investments for financial institutions. The question arises whether this is the correct view and whether it would not ba wiser for the mall investor to keep the GGovernment bonds he already has and even to buy more. Every one admits that there is no other invest ment avaflable anywhere comparabl in saftey to an obligation of the Untt ed ates Government 1t is the yield, however. to which most people look when debating whether or_not they shall sell their Liberties. This yvield now for all is sues is under 4 per cent and so less thun the savings bunks give. It is also argued that when money becomes dearer Londs will sell lower, as in deed. is the rule. Savings bank de posits may have n slight advantuge over the Liberty bond in point of turn. but the bond, in the bank. ca upon without lo; always be of interest As far as the future of the market | for Liberty bonds is concern good reason to doubt the ness to changes in the mone: For one thing, through ope purchases by the Treasury for account of the sinking fund, the money of out standing Treasury and Liberty lo is steadily being reduced, and they in such great dema their ecurt market 1, th ability that 1 long-term trend of Governn will be upward at Jeast unt on a 313 per cent basis for holding s bette: g, even on t and vield, disregard Copsrght SHORTAGE IN BAGGING. Cotton Interests in South Are Fac. 19 ing Serious Condition ORL] at S, October ite ports emanating from Memphis that an acute rtage exists in cotton bagging over the South are confirmed A. D. Geohagen, president of the Southern Cotton Oil Co. and of the Southport Mills, Ltd., which concerns operate gins in Louisiona, Mississippi® . Alabama an NEW r Caro- Southiern Cotton Oil Co.’s gins are operating on full time at present, we have hnown for some time that a serious shortage of cotton bugging Is facing ginning operators, Mr. Geohagen said. “We do not expect to curtain opera tions just yet e have ample re for immedi- ate needs,” he added. “but we are find ing it increasingly difficult to replenish stocks.” Trivial things that go wrong should not embarrass the host or hostess. For most every guest has entertained and probably experienced the same situation. But major things such as poor hot-water service are indicative of a mode of living. T bank and | unlike the money | reulized | HE GUESTS HAVE AR- rRiVED. Everythingisin readiness. The results of a day of preparation are about to bring joy to the heart of GOTTON FUTURES IN SLIGHT RALLY | Talk of Frost in Belt Helps Market After Early Selling Is Absorbed. By the Associated Press. NEW YORK, October 5 tures opened steady; October, | December, 22.17; January, | March, 22.30: May, 22.53 opened at a decline of 5 points to an {advance of 1 point. Many over-Sun day selling orders appeared, particu |larly from the South, and December jquickly eased off to , or about 5 Ipoints net lower. At this price, how- | ever, there was a good trade demand and consideralle covering on apprehen- sions that low temperatures in the | Northwest might work down into the |belt. December rallied to 22.88, active {months generally showing net ad- Ivances of about to 12 points, al- |though some of the local weather ex perts thought it unlikely that the cold |spell in the Northwest would carry |frost into the cotton belts. A private report issued this morn- ting pointed to a yield of 14,400,000 bales, compared with an estimate of 14.018.000 toward the middle of Sep- | tembe New Orleans Quotations. NEW ORLEANS, October ton futures opened steady. (¢ 17 bid; December, * January | £2.19; Mareh 13: M First ftrades showed i loss of 8 points to gains of & points. Liverpool cables |Wwere also irregular. Prices rallied | right after the opening fall. and by tie end of the first half Lour December advanced to 22.24. January to 2.21 {and Muarch to 2221, un udvance of 17 [points above the opening figures, or § [to 9 points anove Saturday’s close {The improvement was attributed to {the approrching « e weather map. Cotton CEW ORLEAN dy: Octok Junuary, i 2224, W YORK. October bids steady. October, 08: January, 2 | 1 ~Cotton fu 50 22,015 5.0t es at Noon. Octoner 12410 e March v5: Decemt March | = . i W..B. & A. SHARES BOUGHT} Now Practically Domi- by Aldred Interests. 1 to The Star 5. Octoher 5.—Wash se and Annapolis Rail- ng quietly a of the stock £ ¥ one house imated that it is being behalf of J. E. Aldred who now practically | dominate this properts The stock apparentiv is pegged sales recentlr being made price Property nated Special Dispat shure cumulated offered d it is i acquired in t FRUIT SHIPMENTS DROP. ples and Grapes al Dispateh to The Star WILMINGTON, Del.. October Apple and grape shipments over the Delaware division of the Pennsy) fa Railrond are running slig] less than those of last vear. Last week 40,852 baskets of apples were fpped. as against 62.000 for the c | responding week last vear. Totwl | srape shipments far this vear amount pounds, as against Spe the hostess. Everywhere about is the atmosphere of the well-managed home—And then the upsetting thought dawns —what will the week-enders find if they turn the hot-water faucet? It isn’t only their temporary inconvenience if the hot-water system is an old-fashion type. It is that they wi 1l carry away the belief that convenient hot water is still considered a luxury in that home. NN In the past, hot-water systems have lagged behind other household conveniences. Men and women have continued to get along with devices that need lighting and waiting, and waiting and extinguishing—because they have believed little else could be done. Now Welsbach, world-famous for its achieve- 1 el The market | | | i Id wive shown by | wiber, | o 35728: 1 my 45 am. |m Delaware Sending Out Fewer Ap-, Do you ever have apologize for your hot-water service? * 23 BAKING GOMPANIES FINANCIAL. Wartime Price On Buiter Loom In Eastern Ohio Special Dispateh 1o The Sta: BRIDGEPORT, Ohio. October — RButter prices higher than those World War days are predicted stern Ohio dairvmen result of drought. The price veach 80 cents a pound, they Higher prices for milk also view. By the Assoriated Press LAND BANK LOANS | NEW YORK, Octoher 5. - omple REACH HUGE TOTALS |t of pians for a $400.000.000 bak | Ing merger involving the (eneral | Ward and Continenta! Baking which operate 13 General, Ward and Continen- | tal Made $400,000,000 Deal. ! 157 Plants Involved. 1S ma sav. are in Com together ions of been announced. ng Corporat which en incorporated in Marvland to b the three concerns, will be the baker of bresd In the world estimated total sales volume 060000 annually. 4 structure of the new <t of 10.000.000 e stock, divided of claes “A” and Paul J1. Helms 1 treasurer of the ion. has been United ! 400, Reported in This District Since 1917 Opening. Special D fo The Star BALTIMORE, October establishment of Federal Land |, ank of Baltimore, which nhslrvl" hares of no par va comprises the States of Mzr\kfl)r!,!u;u; l‘n:‘»;(f} I Pennsyvivania, Deiaware, Virginia. | o g West Virginia. Distri of Colu and the Island of Porto Rico, in 19 the amount of loans outstanding has | expanded by regular intervals from | $500.000 in that vear to $54.099.400 in| August, 192 This growth has ] spite of the fact the bank {other two companies. both of w no inducements secure business!are contre by the Ward interests other than the henefits to he derived |ure 160,000,000 each by the agricultur er desiring | v Ward head of the 4 Yong-time I amoriza. | Ward B Corporation. 1 credited tion payments due each 6 months with t lead in the formatfon in which farmers have | of the huge merger. made increased use of the facilities of | : g . = the lucal bunk year by vear s indi-| LOCAL FIRMS INCLUDED cated from the r comparison | = year inter| Two ce the b « « ith a 5.--Since tie | Of ¥ 5. the Baking Corpora ut $200.006.000 the proposed assets of tion, with lis the din ! consolidat nce been rea he King the loans outst vals & 18. § W kin, “ner « an uld be affected or in New fes BELGIUM SEEKS CREDIT NEW YORK ) ) branch in this ~ituutic Bank of Belg to take the Iy grav Prance by a I the ve: but Equitable Co-operative Building Ass’n JOHN JOY EDSON. President FRANK REESIDE, Secretary Organized 187 5TH YEAR COMPLETE ) Assets So........$5,031,811.86 Surplus --$1 Subscriptions for the 89th Issue of Stock Being Received SAVE SYSTEMATICALLY JOIN THE EQUITABLE The time NOW—<ome thing unfortunate may happen minute—WILL YOU BE PREPAR! TO MEET IT? 1i vo Fquitable and WILL. 1o save Shares $2.50 PER MONTH ny YOu join save regularly JOIN TODAY 915 F St. N.W. tO ment in the gas field. has changed all this. A simple Welsbach device makes HOT water as readily ac- cessible as cold water. This Welsbach appliance operates entirely automatically.You never have to go near it or give it a thought! It is never off duty. Twenty gallons or more of hot water are ready for your use any minute of the day or night. The hot water that is drawn is rapidly replaced by this faithful machine. The specifications of the Welsbach make you realize it is built for a lifetime of service with its thick hair-felt insulation; its direct-action thermostat; its No. 18 gauge copper coil; it’s single-piece, gauzeless, cast-iron burner; and its low-hung heater for low-operating cost. Surely you should know more about this modern appliance. The coupon will bring the information. WELSBACH COMPANY 439 Seventh St., N. W., Washington, D. C. AUTOMATIC STORAGE GAS WATER HEATERS