Evening Star Newspaper, October 17, 1925, Page 15

FINANCIATL, CHICKEN AND PORK PRICES IN DECLINE Eggs Advance During Week in Local Ma_rket—More Nearby Vegetables. Spring chicken prices declined this week and there wus also a decline in the price of pork products, while egg prices toc slight advance. Prices f ommodities remained 10 supply of nearby ture of the country line. Toms them ripened off the fairly plentiful from 50 cents to $1. 1 hasket “kling vegetahles con- ontinue scare onions foi are quoted at prices as reasonable. es of apples are offered wide range of prices us instances nearby culls and in the ilers cundled, 48; hennery, r ! geese, spring chickens. lnrge, evs. 4042 ambs, Spring, 14 122; Spring loins. 3 shoulders hams, 30a 1l Veget repo e Review. on frui the Market Agricultural s market es, compile v it ¥ liberal; demand harrels, no W ashington, licious, extra . 3.23: extra ge size, 3.00; various v e, 1.25a1 demand York, liheral ady; New Cabhage — Supplies moderat nching., in the me fair g Grape Supplies 1 . ; de firm, New baskets, Con- 2.quart climax Western supplies mod- moderate, market tes and lugs, limited; demand steady: California Iceherg type, 4-5 condition Supplies 14.50; some fair liheral; demand steady; New Y 100-pound sacks, tes, No. 1, 2.50a limited: demand K 1v; New York, e1s, Seckels, No. 1, 3 Bose, faney, 4 Orezon, hoxes, rket firm Russet United 4.25 lies liberal: de- North Caro- reis. vellow 4.00a4.25; mostly mostly es—Sup) rket dul stave ins. No. yams, No. 1, lles liberal: _de- rket steady: New mostly 3.00. demand dy hamper tes, ies libera ste: Washington Stock Exchange SALES. $500 at 991, 101710 at 101. Steumbout Co—6 10 10 at 34; | and | 1 | | | & Elec. ptd—10 at| National Bank—3 R CALI 33-51.000 at 102 Bid and Asked Prices. BONDS, UPILITY NATIONAL National Capital Liank & i Aroer Bank of Washington TRUST COMPANY & i3 st Savings Trust 108 * Loan & Tr 410 AVINGS BANK Me s FIRE INSURANC Y stz ot Amerfean Tremen tioual Union VTLE INSURA Title s Titlé 151 MISCELLANEOUS mbia Estate R Aarkes o Ol Do Market old. Manntvpe Storage | |is a r THE EVENING STAR, WASHINGTON, D. ©, NEW YORK CURB MARKET Received by Private Wire BY WILLIAM F. HEFFER) NEW YORK, October 17.—When the week end selling movement set in on the Stock Exchange today it nat- urally communicated itself to the Curb Market, and when prices gave way freely on the big board proportionate declines were registered in the recent leaders on the curb. Despite this profit taking, however, several issues NEW YORK, October 17.—Follow- ing s an official list of bonds and tocks traded in on the New York Curb Market toda; s in usands Low. Close oty Sk aal F 16 Am Pow & 1 neTy Am P& L 62 new e Gs 1 Fdrs 631 1 Heth Steel 7 2 Roston & 2 Can Nat e Serv 001t Serv 54 (it Serv 1 Cons G R A Cons G_Bal 8 Cons Tex 8 Comgrove M 13 Cuba Co_ N S Rub 6 S Rub 3 Run uum 0l FOREIGN e Hinkari Cons M Bk Finl 30 Kine “Denmabias 5 Krupp Fried 1. s X Mor B Denma fn 1 uni-_Medel) 3 Prov Santa Fa 15 Tokio El Lt 65 . STANDARD OIL ISSUE oil.. L in 700 Anglo 100 Ruck 1500 ¢ Am B 1400 tmp’ Oul € 40Ind P L 00 Intl Pet” ¢ 200080 Ind 3008 0 Ka 2008 0 Ky .. 108 0 Neb 0008 ON Y 1 Swan & Finch. . 00 Vacuum Oil Sales TNDEPENDE in hdrds liance O & R Am Contr Olfids Carih S, T Serv me it Serv pfd [T it Serv pfd ‘B Synd nd Cent Petn Ol Co.. e 01l of Cor! Pa Gibson Gult 011 Lago Pet Lion il Livingston 140 Leonard Oil Mex Panuco. | o czurlan’ Pet. 0 & G Direct te The Star Ofl continued to stand out on the side of advance. Included among these were Richmond Radiator, which established a new high for the vear; General Rail- vay Signal, which gained a point, and Canada Dry Ginger Ale, which was up almost 3 points at one time. New Jersey Zinc continued to reflect the highly favorable condition in the mar- ket for the metal, which again estab- lished a new high for the year. Am Am Am Am 95 Am 2 Am 0 Arso Gas & 6 Atlas P : 1 Borden Co pfd 5 Hord & C new 1 Brit-Am_Toh ot @ Bilyn City B Buesrus (‘o & rr Py Clove ym’ P C 1 Connor 1 2 Cons G Bal new Bak A Bak B... Conlt Bak pfd. . 6 Contl Tob Ine. . 1 Cuba T C vie 3 Curtiss Aero M Curt Assets Cor De For R ( vte @ Devoe R n A wi 1 Dixon Cructhle. ler € & Rad 1t Mot alohr & Hros 14 ¢ Auto Lite. 77 I Bd & Sh pfd 10315 Bd & Shonco 6615 Tovest Inc.. 6348 PSP P pt100 Co gty ruck Stor MJ‘« SF F I8 Y X 247 Gen Bal 14 Gen ¢ Gillette S R, len Alden Coal sodyear rimes R & 1t Bros A Ray A Cone Tnd € ntl Match «“ i Mid Weat Tl Mid W Tl g 1T Mid W T pr lie 1 Miller Rubber 2 Miss Riv Pow w & Lt Nor Ohio Omuy State ruct pld Proct Rem Noisel 1 Rem Noisel 5 Rep Mot Trk st Reo Mot :~nnhr-uy-l PRL W Cal B i Stand P i Stand Stand Tex P B pf P homp RC ) Prod Ve 101 4% ix a3 0 Spear Uni East Min TOC l\ TRAI)ING RE( ORDS BROI&EN | WEEK OF WILD ADVANCES | IN Prices Up $16 Per Share Since First of Year—Inside Interests Extra Active—Danger Point in Sight—Trade Repor W YORK, October . during the last week Lusy making records. have reached a dally axsing anything seen 1n the lnat nine | 17.—Wall has been | 1916, at the cul- mination of the second of the great war booms. the volume of business ran close to the three-million-shar k. With this exception, the com- | parison of maximum totals would hiave to go back to the Northern I'a citic panic in 1901 In that histe period there were less than 200 ks being actively tin. Now. the active trading list, er than apyihing known in stock exchanze history, has reached almost It is not surprising i the modern market is so On December ge. | | ice Average Up $L a Share. ‘tock prices have risen an average £ about $1 a share during the week. | hey are up $16 on the wwkable advance, the like of which has seldom been equaled in our | tinancial experience. | Sl {1 hus been a very poorly dis tributed movement so far. Certain xroups of stocks like the motors und shares of merchandising com panies have gune alead extraordi narily. In other groups, like the rails, the coppers and the oils, the advance has been moderate and not at all suggestive of the big “bull markets” of the past. Steels Forge to Front. Toward the close of the week there | seemed to be a powerful effort to take away the impression that the | market, as it has been since the firrt | of September, was bullt around the | motor stocks. There was a diversion | into the steels, probably under the | auspices of the same big traders who had made the profits in the motors | and had all the confidence which comes with great gains quickly and easily made. The picture has been commonly drawn of the outside public specu- lating on a vast scala. The accuracy | of this description i3 open 1o ques. ton. There fs no doubt that the pub- lic, meaning by this outsiders who do not habitually trade in* Wall Street, 1s interested to a larger extent than at any time since the Spring of 1523 But the main impulse has been coming from rich inside speculators, either scting alone or with associa- tions known as pool Much “Artificial” Trading. Nobody of experience could have looked on at _the recent spectacle on | uf | week | ana the Stock Exchange without con- cluding-that a great deal of the buy- Good. 1 selling wus artiticial, desizned accumulate stocks on ideas of © merit, but simply to force their prices up and create a better market for distributing purposes. Predictions of how long ment of the sort ix likely to absolutely of no value. 1t all ¢ upon how far the sheer momentum ixing prices will ca e only outside chy would come from the hutiing down they vember, 1919, or they do in March, Reserve far there has heen tion of this happening e banks have been financing the biz Wall Street speculation, along with move ok concel ederal 1 did in threatencd Factor. no sugges therefore, | the seasonal demands of ' tr harvesting, with little recou Federal reserve institution: ended last \Wednes counts in the New York dist actually lower than they were k re. For another thing. dixcount rate would have an unsettling effect upon international relations. 1t would accelerate the gold movement from Great Britain to the United . which both sides are desirous of keeping down as much as possible anger Point in Sight. hindrance in the credit, the ex three years the \ising of the re- . without ny of restricted ence of the last ally shown suddenly terminate prolonged declines of puying the penalty exces movements can run inte Simply by way for speenlative The danger stage is usually ap. proached when contact is lost with outside conditions, and it s certainly 4 _question, even with the acknowl. d prosperity in the automobile whether advances of 10, 30 and 40 points in this class of stocks sipgle month have not done some Within the have sold at This coincided with the flation in Irench paper fssues and with the reported stand of the Govern. ment at Washington against more loans to countries maintaining large standing armies which have not settled thelr American war debt. The _successful conclusion of the Locartio negotiatl been a factor In the market for forelgn bonds, which developed considerable strength toward the close of the week. On the other hand, there has natu rally heen some selling of tax-exempt issues like the Liberty 3igs, which would become less attractive in the eves of wealthy investors If the tax weelk new low fy (COTTON FUTURES m ave | euds For one thing | how big upward | ARE FIRM TODAY End Week’s Trading With No Marked Changes in Either Direction. By the Associated Press. NEW YORK, October 17.—Cotton futures opened steady; October, 21.20 bid; December, 21.50; January, 20.85; March, 21.1 21.37. The New York market opened steady at an advance of 5 to 10 points and sold 13 to 20 pointw net higher in the early trading on steady Liverpool cables, more encouraging reports from Manchester and officlal predictions for frost in Arkansas, Oklahoma and Texas Panhandle. December sold up to 21.63, but a ®ood deal of realizing for over the weak end and some Southern hedging supplied the demand from shorts and the trade around this figure, and the market showed reactions of § or 9 Points from the best at the end of the first hour. Private cables from Liverpool said the market was slowly recovering from the effects of the last bureau re port, and that the trade was most active, both at Liverpool and Man- chester. New York cotton futures closed steady at net advance of 1 to 7 points. hom 34 ober 17.—Cot- sady: Octobe January, NEW ORI futures bid; Dy 89; March, New O at net adva .,',.»'n.'..t “PP'\') Cotton IKP\IPW NEW YORK. October 17 (). —Ral lies from the low prices reached on the break of last bureau day have not been fully in' the cotton market, ving or covering | has been in evidence on the declines with prices showing a tendency to steady below the 21%-cent level for December. The ish sentiment | created by the increased estimate of | the crop and heavy ginning figi has remained a factor, and has doubt less accoun for Increased offerings on the advances I Selling on the decline, however, has been held in check by reports of heavy rains or low temperatures in the South, and, according to local hrokers, | a good many contracts have been taken out of the n by trade buy- | | Ink on scale.down orders. The heavy | { rains in th h bave been accom panied by damage cotton killing ts ha reported t a number of points northert of the bel Freezing tempera heen ger to arentiy and the fmpressic ars (o be that the reports | damage have referred chi grade of open cotton. On the whole, conseque does not appear have | dtsposition to shade dow the crop, but it is expect unfavorable ther rather lighter zinning toher 18, than previous Ideas the showing jovernment crop report publication on October 26, hay vet been definitely formulated, private reports are expected next week which will probably, ¢ timent ts showing | we anticipa as to The Estimate. by Latest Crop A report issued eastern beit spot 1 mated the yield at 1 a de over the bureau, but appeared much effect on the mas urded by some br Kk that traders were pre pared for an official forecas tween 14% and 15 million bales. Mean- | while reports from the textile trade have emphasized prospects for a good | business on the hasis of a larger crop | and the lower level of prices | CHECK COLLECTION ~ RECORDS SMASHED Federal Reserve Reports New Mark in Business for Single Day. to be without ket, which s s indle f be-! By the Associated Press NEW YORK, Oct lords for single day tions by the Federal Reserve ken this week whe 500,000 checks, with tal se of almost $1,000,000,000 b through the 12 reserve banks at the pesk of the postholiday collection rush on Wednesday Collectlons at the lone aggregated $2 639,000 check items, uded bundles of a dozen or ate checks. Clearances also w unusuafly heavy on Tuesday ar wursday, the peak of the movemen 1t Chicago being reached e lier than at New York. when checks, with a_fa Jdue of $1 | 000, were received. Other Iederal re serve banks reported the heaviest col lections in their history. Indications of expanded Fall busi ness were reflected in the heavy check movement, which shows a bulge at this time every vear hecause set { tlement day for many merchants on| their Autumn orders of goods falls on | October 10, { | 17. check All rec colled ser New York bank 19,000,000 on the which | more re 'ON STOCK MARE October 17 —Following is a list of today’s highest, lowest and closing prices for the imost active stocks dealt in here B( BOSTON, ern S§ €0 on Elec Gillette S Teland Creek Island Creck pfd. . Lsle Roval : Mass Gas apflower ‘G 16, awk w Cornelia New Fng T & T Pacific Mills Quiney Swift & Uiited S Utah Apex . .. Ttah Metal ) Yentura Oil Walworth .. Warren Broc reduction plan goes through at the next session, as is generally expected. The trade reports at the week end indicate a continued tendency for- ward, but in the case of steel the expansion in mill operations has so far failed to bring about any appre- ciable advance in prices, and the steel price level is admittedly low Such an advance may come later and enable the steel companies to extract a more satisfactory profit margin, but it has not come yet. (Copyright. 1925.) 1} will be b TRADE HOLDING UP WELL OVER NATION Employment Indicates Fine Buying Power Is Sure to Prevail for Months. BY J. C. ROYLE. Merchants and distributors all over America found distinct encouragement today in the volume of employment which prevails. It is only in extreme- Iy scattered districts where any large volume of workers now are idle. The anthracite strike, it is true, has thrown 100,000 men out of work, but for the country In general employment is at an extremely high stage. As long as this is so, merchants feel that the buying power of their consumers will remain unaffected and that they can depend on steady and increasing vol- ume of business as the year draws to close. In fac some merchants al- ready are beginning to collect and train their extra holiday help. The business of the steel mills has been maintained at a high rate of op- eration and it is possible that when complete figures are in this week will show a slight percentage of advance. It has already shown a decided in- crease in the volume of orders booked. Prices are steady rather than trending upward. Auto Sales Heavy. Automoblle sales continue at an ex- traordinary rate, and the factory pro- duction schedules are being stepped up to keep price with distribution. It is deemed likely that more motor cars will be given Christmas presents this vear than ever hefore. Huilding operations have been ex- ceptionally active In the past week. This has been due in the North to the desire to take full advantage of fa- vorable weather and to prepare the| way for finishing work, which can be | mpleted after snows set in. 1In the | outh the acute need for housing facllities has kept operations at the highest pitch. The oll industry is now entering the period of lowest consumption, o far as gasoline 18 concerned. Car Loadings Still High. Car loadings have proceeded rate which glves the absolu e that unless some unforseen di-| sast kes place between now and| at a sur Jant 1 all previous Joading records | Jken Bituminous coal production is still| maintaining a rate approximating | 11000000 tons a week, or 2,000,000 | higher than consumption. It is| €d that cold weather will sig- | fval before there is a heavy | ceiment of these reserve stocks. Bullding materials are in steady de- | prices. Lumber ve checked siightly week, but are stll well records established at this ry a4y work is providing employ for hundreds of thousands of n various sections of the coun-| Mills Doing Better. ! cent increase in the nt of ernde rubber which may be | from the Far East British | fter November 1 has been | discounted, and h\hbfl facturers well engage operations have slackened v from the extreme peak, due to off in replacement de and textile mills undoubtedly are | tter. Some of the worsted | working at better |h‘n\ pacity. while cotton mmxi turning out cotton and fabric tually speedin up production oods have shown no falling off in uvm\ml Florids Banks Prosper. | zeneral frost of the season week found much of the Fall| of the agricultural States in compi but frost dams to corn has heen almost negligible. Easy money has had a decided effect upon business well as on Wall Street. Treasury officials attribute the present condition to the extraordinary gain of deposits in Florida banks. | which are sending funds in large vol um h for investment .n-‘f\i"slv.l_ 1‘ B LATEST ST. PAUL PLAN ATTACKED BY CHAIRMAN Ecker Does Not Apprcve of Roose- velt Scheme—Would Weaken Road. He Claimed. NEW YORK, October 17.—Charges that the Roosevelt plun for reorgani Milws ee and ned basic weaken The amo shipped possession well 10 per TH seeding ition of the Chicago, Paul Railway ts which woul n road’s financial sterday by F irman of the original bond- holders protective committee, formed company was placed in re- st March. | leveged his criticism of articulariy at te only $5.000 de- fe aterially structure were ederick H the made Feker, ¢k the proposal to liqu 000 of the rond’s $55,000,000 Govern- | ment debt at this time, and to stretch payment of the remainder over con- clusion of the agreement, or that the as in the nature of an against the Standard other group. i offensive Oil Co. or an: A];VINCE IN WOOL. October 17 (Special).— setter weights of fine wools have rexponse to the demand. sold at 50 to 52 and Ohio delain ne combing terri- .39 in _some sales n super 64-70s at $1.07 n basis in bond. Medinms ightly higher. Michigan cents, gre us high tories went and_Austral to $1.10 cl also were Query the Promoter. Determine how much of his own | money the promoter is putting into his scheme before vou decide to risk yours, Dbon't take his word for it— make him prove it |all SATURDAY, OCTOBER 17, 1925. WHOLESALE PRICES IN SLIGHT DECLINE September Drop Largely Due to Fall in Grain, Hogs, Onions, Potatoes and Wool. By the Associated Press. A slight decline in the general level of wholesale prices in September, as compared with August, due chiefly to a drop In the farm products and mis- cellaneous commodity groups, was re- ported today by the Bureau of Labor Statistics of the Department of Labor. The bureau’s welghted index number, figured on prices for 404 dpmmodities, registered 167.9 for September, as compared with 160.4 in August. The general level, however, was still 71-3 per cent above that of September last year. Falling prices of grain, hogs, onions, potatoes and wool were chiefly responsible for the recession in the farm products group from 168.1 to 143.1 in the month. Lower prices were reported also for clothing ma terials, fuel and housefurnishing goods. Metals and metal procucts showed practically no change, while the foods and building material groups were among those showing slight increases. HUNTING SEASON NEAR. English Hounds in Training for Big Events. LONDON, October 17 (#).—Tn prep aration for the fox hunting season for which sdelety, with a big 8, flocks to the country during November, many packs of hounds in the counties are now engaged in “subbing” or in killing off the superfluous young foxes, which clears the field and gives the hounds a taste for the sterner work ahead The Prince of Wales' hunting horses have recently been going through training at Melton Mowbray, where it is expected the Prince will put in a constderable part of his time in hunt | ing after the ceremonies attendant on his return from the South American tour are finished Prompt Action First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. 738 15th Btrest WE FINANCE —all classes of income-producing property Large Loans a Specialty Current int. rate and commission. Higbie & Richardson, Inc. llfl lsfll fi( N.W. Money to Loan Secured by first deed of trust on re Prevailing interest and Joseph . Weller #:9 FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOHN POOLE, President REAL ESTATE LOANS First and Second Trusts Construction Loans Towest Interest Rates N. L. Sansbury Co., lnc. 1418 Eye St. NW. Main 5904 REAL ESTATE LOANS _FRED T. NESBIT ISTE\ Ll)(l 2 M-Il 9392 ANY AMOUNT % & AT LOW RATES offer a limited number of choice 7% First Mortgage Notes secured on northwest residential properties Denominations of $100 and up details given prompt attention See Mr. 0'Donnell, Mgr. Mortgage Department, First and second trust real estate notes secured on in- come-producing real estate in Washington, D. C. Construction Loans Made —for long - time _periods amounts up to $700,000. Real Estate Mortgage & Guaranty Corporation 26 Jackson Place N.W. Resources—$2,500,000 L. E. BREUNINGER, President in Metropolitan Life Insurance Company FIRST MORTGAGE LOANS BUSINESS PROPERTIES HOUSES OFFICE BUILDINGS APARTMENTS CONSTRUCTION LOANS WEAVER BROS. Reall 809 15th Street N.W. tors FINANCIAE. FIRST MORTGAGES FOR SALE Denominations of $250, $500 $750, $1,000 and Upwards 6'2% All_ Loans Made on Property Located in the District of Columbia JAMES F. SHEA 643 Louisiana Ave. N.W. SECOND TRUST NOTES Funds available for the pur- chase of all kinds of second trust_ notes. sacured on. D. C. or nearby real estate. Prompt Action in every case. Washington Investment and Transactions Co. 715 14th 8t. N.W, Main 3662 00000000 ; | $oe 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 %432/ Gommecticul a%aua :%wm/z,)). 9700, Houses Business Properties Apartments Office Buildings Conservation! HE forest reservations of the Far West must be saved for our children! That is the cry of the Conservationist—the man who looks to the future welfare of our Nation. The man who looks to the welfare of his own children provides them with financial protection. What better way than to invest in 614 First Mortgage Notes offered by Swartzell, Rheem & Hensey Company ! Swartzell, Rheem &Hensey Go. - Mortgage Barnkers 727~ |5 Street,.NW WashingtonD C. 56 Years ithout Loss to An Investor WHICH IS BETTER? Safety of principal and and an principal, the 1 return or uncertainty ty as to the no mat- ter how great trustee has but one answer. Any other person has but one sensible answer. The good earnings. ¢ areat fortunes reful The by Quarter 2 3 ings and few losses. con- of a i servative Century 1ithout a FIRST MORTGAGES Loss has in the investment market. no peer It means no losses. F. S&UL CO. Q025 15th St. B. Main 2100 NSV “At the bottom of the bag one finds the hill™ This a homely W of this simple folk, but it contains a world of signifi- cance when applied to finan- cial operations. the finds not ny en the 1 of reached has to be paid, alone in cash, n heartaches and regrets. FREE YOURSELF DAY of all wo vour funds, whether darge or small, by placing them in our FIRST MORTGAGE NOTES with calm assurance that the money FIRST and ALL THE TIME SAFE, and will vield liberal rate of interest. » investor has cver had “foot the bill” here. saying the bill” one but ro Topping the barrel” has bt too often tempted the pur- chaser, who has discovered his loss upon reaching the bottom. This practice is frequently the chief “stock in trade” of the scheming promoter and the salesman of doubtiul securities, also to Just Telephone or Write for Our Literature W hich Tells How It's Done MORTGAGE INVESTMENT DEPT. - [SHANNON & LUCH NG 713 and 715 14th St. N.W. Main 2345 JRIRIRI T Qe IR RI R IR il SN RIRIRIRIR O RS ol e