Evening Star Newspaper, October 25, 1925, Page 93

. vear and perhaps better. FINANCIAT, * TOLENTADVANGES IN STOCK MARKET Industrial Averages Highest for Al Time—Steel Best b Since 1917 Boom. ated Press. NEW YORK, October 24.—Bullish operations were resumed with Increas. d vigor in today’s brief session of the stock market. Heavy profit-taking sales toward the close, apparently spired by the belief that bear traders might try to repeat last Saturday's coup by haummering the list after the initial outburst of strength failed to impede the advance, which ranged from 1 to 10 points’ in the active Issues. The general industrial average was lifted to & new high record for all time and the general railroad average duplicated the high established earlier in the week. Total sales ran above one and a quarter million shares. Factors in Advance, Pool operations were stimulated by the growing investment demand for the high-grade stocks, reflected in the Increased odd lot and cash business reported by brokerage houses. With recosnized banking and _industrial leaders predicting prosperity for the months fo come and prospects of a sharp reduction in income taxes, spec- ulators for the advance had little dif- ficulty in maintaining bullish en- thustasm, Renewed weakness of French frz which collapsed to another new low record for the year at 4.07 cents, was again disregarded as a stock market factor, although it inspired further liquidation of French bonds. anes .i hw 10128 10221 102 102 23 103 10708 6-5 98-4 98-8 99-8 d 104% 100% 1 de 102 10944 101 108 101 4T 96%% 101% 101% 9% 99%s 105 109 106% mm 'Un ] lflfih 98% 82 92 106% 1013% 102% 9614 984 9284 102% 9734 Motors Climb Higher. | Despite the uneasiness resulting from the sensational 15 points ad- vance in Chandler yesterday, half of { which was lost today, motors con- tinued their move to higher ground. Jfordan Motors was run up 5 points to 52 at ‘the expense of an over- crowded short interest. Chrysler jumped over 4 points to a new top at 204 and then fell to 201%. General Motors touched 134, as against a low of 1313 earlier in the week, and Packard, Studebaker, White and Moon showed gains of a point or more. Mack truck and Paige- Detroit reacted on profit taking. Steel Highest Since 1917. United States Steel, common, moved up 2 points to 130, the highest price since the culmination of the war boom in 1917. Bethlehem Steel closed over 3 points higher at 47!, Gulf States moved up 2 points to 86 and Youngs- town Sheet and Tube closed frac- tionally higher at §2 after touching & new 1925 high at 84%a. Specialties again presented several outstanding points of strength. United States Cast Iron Pipe was run up over 9 points to 2193, American Ice jump- ed nearly & points to 121 and the Com- reial Solvents issues, National dis- e-Wlles Biscuit and Rail- Stecl Spring all showed net gains of 3 points or more. Can Touches New High. American Can touched a new record 63, but later slipped back 5 for a net loss of 1 point on the ¥. United Drug, New York Can- ners, American Radiator and Unite. states Industrial Alcohol, all eclipsed their previous 1925 high prices. A sudden outburst of strength in | Pittsburgh and West Virginia, which roared nearly 7 polnts to a new high record at 93, was the outstanding fea- ture of the rallroad group Nickel Plate advanced 2 points to a new top at 142, but most of the other active issues showed only frac- rional changes. Speculative Interest in the foreign exchange market was divided between ihe weakness of French francs and the further recovery in sterling ex- change, demand bills being quoted at 4841, a new high on the current movement. WALL STREET BRIEFS By the Associated Pres NEW YORK, October 24.—so great | has become the strain on 35,000 em- ployes of Wall street brokerage firms 10 successive “two-mil- that a petition was circulated among members of the New York Stock Exchange today request-| ing that the exchange be closed next | Saturday in order lo permit mar firms to bring their accounts up to date. Thousands of employes have worked 14 to 18 hours daily for the last two weeks and with no let-up of | business in sight and no additional ex- perienced help available many part ners believe thut an extra day's recess is justified in the interest of their em- ployes health. George 11. Jones, vice president and | treasurer of the Standard Oil Co. of New Jersey, sailed for Furope on bu ness today of the opinion that the ofl industry generally better than it has been in the last five years. “The gasoline situation is good and average vearly consumption of gasoline throughout the United States will be about 15 per cent ahead of a vear ugo. litions as well as general bus L nditions appear to be basically sound, and I expect these conditions of general prosperity to continue well into the new year “Fhe price recording machinery of the New York Stock Exchange was again overwhelmed today by the gigantic flood of buying orders, the last quo- tating making its apy nee min- utes after the market had closed. To- 1al sales approximated 1,272,900 shares, against 1482500 last Satur day. The bulk of today's trading was in relatively small blocks of 100 to 500 shares. income of the dropped to $1,083,118 in declined to Septeriber operating Lehigh Valiey Railroad $550,403, compared with September, 1924. Gross $5,672,689 from $6 . Net operat- ing income for the nine months was $10,852,411, against $5,683,035 a year ago, and gross $58,387,171, against $66,609,433. Net income of Superior Steel for the mine months this vear dropped to $30,- 460 after Interes ation, amorti- zation and e Federal tax, equal to 30 cents a s on the capi- 1al stoc! ainst $142,708, or $1.42 a shars, in the s \d of 1924, The third quarter’s business showed im- provement, net income amounting to $63.980. or 63 cents a share. President Mapother of the Louis- vilel and Nashville says the outlook for the road is as encouraging as could be expected Things look zood. If they were any better we could mot stand them. We recently ordered $6.850,000 in new equipment and 65,000 tons of rails, which is 15,- 000 tons above our normal require- ments. Patrick Crowley, president of the New York Central, says he looks for zood substantial business in the last auarter this vear, as good as last American Brown Boverie Electric (‘orporation has a contract to supply » large order of oil circuit breakers io the Aluminum Co. of Canada, sub- sidiary of the Aluminum Co. of Amer- ica. is equipment will be used in A o el the new plant on the Segysnay Mu.‘ 99% 941 1084 9d% 87 8% 99% 9674 101% 97w 1% 874 100 93 11z 99 9014 1014 874 107% 104 98% 89 102 92y 110% 100% 120% 1144 100% 96% 103% 9974 80 794 88% 8"% 1054 96% 9414 88 100 1015 91 1144 109% 1024 984 97% 93% 1074 104 089 o1y 95 803% 94 90% 103% 99% 97 84 107% 101% 106 100% 8% 93 101 100% 8T% T8 1081 99 105% 1024 94 874 8% 52 113 1077% 99 78% a1 264 924 86h 89 ¥4 90% 824 88k 83 1024 mm 8644 91 96% 102% 1077 101% 58% 89% 94 884 100 95% 976 92% 101% 86% 5% B8 93K 79% 8% 83k g Lo 98-22 101-2- 99 26 Liberty 3vs 1932-47 102-30 101-1 :00;49 100-20 Liberty 24 434s 1927-42 -1 103-9 101-20 Liberty 4th 43 1938-38 ml:;:o 104-13 Treasury 4\s 1947-62 High. 97% 103% 978 101% 884y 110% 1084 89% 100 104% 108% 108% 110 110% El% 100 1024 105 10344 108y 101 106 1024 £99, 844 954 1073 89% 89% 1084 1% 107 1128 834 104 92% 90 105% 105% 119 107% 1043 9915 108% 1087% 4 106 THE SUNDAY STER, WARHINGTON, D. €, OUTOBER 25 1925—PART &: BOND SUMMARY FOR THE WEEK DANGER SEEN IN MANY WILLS OF HOMEMADE DESCRIPTION Some Pitfalls of Law as Interpreted by Courts in 48 States—Good Legal Talent Needed to Avoid ’ Much Serious Trouble. U. 5. BONDS. Liberty 1et 435 1932- 101-1 Liberty 3d 43s 1928 FOREIGN Argentina 6s A 1957. Austria Austrias f 7s1943. Belgium s 1955 Belgium 7%s 1945, Belgium 85 1941 Bordeaux 6s 1934. Brazil 8s1941.. Canada b» 1952. Canada 5%s 1929. Chile 83 1926, Chile 82 1941 Chile 85 1946 Chinese Govt Ry s 1951 Copenhagen 5345 1944. Caechoslovakia 85 1951. Denmark 68 1942. . .. Dutch East Indles 6s 1947 Dutch East Indies 6s 1962 French Govt 7%s 1941. French Govt 8s 1945. German 7s 1849.... Holland-American s f 63 1947 Japsnese 48 1931. . Japanese 63 1954, Jergens Utd Margarine 63 1947 Lyons 6s 1934 Marsetlles 6 Netherlands 65 1972 Paris-Lyons-Med 68 1968. Queensland 63 1947. ... Queensiand 75 1941 Rio de Janelro 83 1946 Suo Paulo, State of, 88 1936. Seine, Deptof, 7s.. ... Serbs Crote: Swoden 68 s Swiss Glés 1946 .. United Kingdom 5%s 1929 United Kingdom 5%s 19, INDUSTRIAL AND MISC 94% Amer Agri Chemical 7348 1941. 9515 Amer Smelt & Ref 15t 53 1947.... 108% Am. Smelt 1st 65 1942 9912 Amer Sugar Refining 65 1937, 96% Amer Tel & Tel cl tr 4s 1929 100 Amer Tel & Tel cl tr 55 1946 991, Anaconda Copper 65 1953. 100 Anaconda Copper cv deb 7s ‘33... 85 Armour & Co 4%8s 1939 97% Atlantic Refining deb 55 1937. 100% Bell Tel (Pa) ref 631948......c.0 90 Bethlehem Steel pm 68 1936... 93% Bethlehem Steel s f 65 1943. 105 Chile Copper 65 1982. 78% Cons Coal (Md) 1s ref 943 Cuba Cane Sug cv Aeb 83 1930. 106% Detroft Edison ref 65 1940..... 94% Dodge €841, : 9734 Empire Fuel & Gas 7% 1937 100 Goodrich (B F) 63%s 1947, 1074 Goodyear Tire 8s 1931. 119 Goodyear Tire 85 1941. 99% Humble Ofl & Ref 5¥#s 101 Indiana Steel 63 1962. . 82% Inter Mer Marine 65 1341 874 Inter Paper 6s B 1947.. 101% International Tel i< rets. . 90 Kelly-Springfield 85 1931. 89% Lackawanna Steel 65 195 97% Liggett & Mycrs 53 1951. . 99 Manat! Sugar s 7148 1942 874 Midvale Steel 68 1936. . 99 New England Tel 55 195 112 New York Edison 18t 6% s 1841.. 100% GasELH & P bs 1948 95% New York Tel 4351939, ew York Tel 65 1941. 9674 North American Edlson 63 195 931 Pacific Gas & Elec b3 194: 92% Pacific Tel & Tel bs 1952. . 101% Philadelphia Co ref 63 1944. 95 Public Service 6 Stnclair Of1 78 106% Skelly 6%s 19 102 South Porto Rico Sugar7s 1841 93% Unfon Bag & Paper 6s D.... 1004 United Drug 6s 1944. 85 U S Rubber 1st & ret 104% U S Rubber 7158 1930. 1044 U S Steel s f 55 1963, 91 Utah Power & Light 55 1944 73 Va-Carolina Chem s f 75 1947, 109% Western Union Tel 6148 1936, 91% Wilson & Co 1st 65 1941... RAILROAD. #810 Atchison gen 451990 .. ... #9 Atlantic Coast Line 1s s 1952, #61 Balto & Ohlo gold 481943, 89 Balto & Ohlocy 4%4s 1933 80% Balto & Ohlo ref 6s 1996. 102% Balto & Ohio 651929.... 83% B&OPItta LE& W Va 4 5% B &O Southwestern DIv 5 cfs 50+ $214 Brooklyn-Manhat s f 6 A 1968. 116 Canadian Northern 635 1946.... 79 Canadian Paclfic deb 4s 86% Central Pacific 4s 1945, ... 94% Chesapcake & ORio cv 4135 1930. $7% Chesapeake & Ohlo gn 4145 1992, 102 Chesapeake & Ohlo cv 53 1946 44% Chicago & Alton 33 s 1950. 100% Chi B & Quincy 1st ref 5s1 71% Chi & Eastern [l gen 58 1951. 59% ChiGreat Western 4s 1959 44 ChiM & St Paul cv 4345 193 7714 Chi M & Bt Paul gen 4%s 198 43% ChiM & St Paul ref 4325 2014, 44 ChiM & St Paul cv 68 2014. 9344 83% 106% lol‘fi DS 101% 102 1017% 106% 106 40% 94k 9814 294y 8% 987, 93 98% 915 79 4 107% Ch! & Northwestern 6 9Bl 96 1024 1187 98 61% 93 i 924 1604 [ 87 108% 977 85, 96 103% 1% 36% 100% 95 9 6% 80% 90 8 95k 101 944 28 3% 874 98 97% 88% o2 804 104% 111% 51t 944 907 101% 1024 9T 674 96% 73% Chicago Rallways bs 1927. 88% ChlR I & Pac!fic ref ¢s 1934. 21% Chi Uniun Station 43s 1984 116% Chi Unfon Station 6%s 1963 76% Chi & Western (nd con 481952 10214 CCC & Bt Liret 63 A 1929 104% Cleveland Term 538 19° 908 Colorado & Southern 4% 3% Cuba R R s 1955 _ 101 Delaware & Hudson §4s §2 Den & Rio Grande con 4s 1936, 55 D. & R. G. West bs 1955, 86 Detrolt United 4151932, 70 Erlelst con 451995, . 81% Erle gen lien 4s 1996, 63 Kriecv4s A 19 60% Erle L‘v 4s lJ 1953 93 106% Grand Trunk s £ deb 65 1536, 114% Grand Trunk 7s1940. 908 Great Northern gcn b%4s 1952, 108% Great Northern gen 7s 1936, 86% Hudson & Manhattan ref 63 1957, 67% Hudson & Manhattan adj bs 1. 101% Tllinols Central & igs 1934 9% Inter Rapld Transit 5s 13 86 Inter Rapld Transitcv 7s ]9; G6 Inter & Great Nor adj 6s 1962, $0% Kan C Ft Scott & M 49 133§ 70% Kansas City Southern 3s 1950 8% Kansas City Southern §s 1950 97 Lake Shore 4 1923, : 964 Lake Shore 4 1931, 917 Louis & Nash unifie 1044 Lout - 947 Mil Elec Ry & Lt st ref 53 61 102 MStP & SSM6%s1931. 80 Mo Kan & Tex 1st 451990, 76% Mo Kan & Tex adj 58 1967, 86 Mo Kan & Tex prin 63 A 1862 624 Missourl Pacific gen 48 1976 92% N O Tex & Mex inc bs 1035, 9814 New York Cent deb 45 1934, 99 New York Cent ref Imp 6 201 106% New York Central deb 68 1935 984 N Y Chl&St L s T4 54 New Haven deb 4s 1957 87 NYNHG&H cvdeb6s1948. ., 59% N Y West & Boston 43s 1946, 884 Norfolk & Western con 45 1996, 125% Norfolk & Western cv 65 1929 60 Northedn Pacific 3s 1947 83 Northern Pacific 43 197 104% Northern Pacific ref imp 64 2047 96% Ore Short Line ref 43 1929, 81 Ore-Wash 1st ref 4s 1961 91% Pennsylvania' gen 43%s 1965 99% Pennsylvanla gen bs 1968, 109% Pennsylvania 6%s 1936. 315 Peoria & Eastern inc 4s 1990, 974 Pere Marquette It 6x 1350, 94% Reading gen 4u 1957, 5 71 Rio Grande Western cit 45 1949 84% RIArk & L 43481934, ... #3% StLIM &SR & G 451933, 71 StL &San Franprin 4s A 1960. #5% St L & San Fran pr In bs 1050, 93% Bt L & Ban Fran5is B 1942 84% StL & San Fran adj 68 1956. , 76% St L & San Fran inc 6s 1960, ... 59% Seaboard Alr Line ref 4s 1959 784 Beaboard Air Line adj b5 1949, ., 84% Seaboard Air Linc con 68 1945, 96% Southern Pacific cv 43 1929. . 84 Southern Pacific col 45 1949 87% Southern Pacific ref 4s 1955. 73% Southern Ry gen 4s 1956 100% Southern Ry 1st 5s 1994. 106% Southern Ry dev 63s 1956. .. 34% Third Ave adj 5s 1960. . 90% Union Pacific 1st 45 1947 $8 Union Pacific cv 4s 1927, 95 Virginian Ry Ist 6s 1963 100% Wabash 1st b8 1939. 94% Wabash 5% T 6314 Western Maryland 4s 1953 90% Western Pacific 55 1946. 101-1 102-6 . 10816 106-9 Frev. week's High. 99-30 . 09-26 101-30 101-25 100-25 100-22 101-1 10202 Close. 964 102k 96% 100% 86% 109% 107% 86% 100 102% . 1024 102 . 1094 Last. Yieln 9926 8 53 101-29 892 100-23 889 101-1 1023 106-15 K81 High. 1. 96% 1024 96% 1014 87 109% 108 87 100 102% 102% 1024 109% C110% 'Anaol' - 104 984y 106'4 . 102 974 . 1004 48% “9 102 1081y 103% 108'4 100%s 96% 102 96 100% 86% 108% 1074 Baw 99% 102% 102% 102 109 110 45% 9hlh 101 102 102% 102% 10478 1 1024 B0 £3% 993 mu- 99% 9240 1148 10567 96% 103% 5945 106% 105 9414 102 1044 1107% 408 014 994 100 101% 974 6644 4% L6k 81K Wansl Shora 1at 4 3300 isiasanan $2% Sdle 110% 9ily 884y sm 3 110% Last. 984 102% 96% 1004 86% 109% 107% 84% 9% 102% 1024 102% 109 110 45% 984 101 108 102% 99% 102% 1007 HBY 83% 105% | 845 1044 1% 985 88% 91% Bhty 934 905 ;10w 864 | 97 90% 17% 8041 875 97% 91% 1177 514 102 T4 €3 49 88% 49% 149 79% 86% ferent provisions in | rectly BY L A. FLEMING. Trust officers—and Washington trust companies have some exceedingly fine officers bearing this title—will tell you that homemade wills are fraught with the greatest danger, that the intent and purpose of a testator may be entirely ignored, volded and rendered as if never written by some error of comunission or omission, apparently unimportant in itself, but which law- yers will uses as an excuse for long ittigation. Especially dangerous {s a homemade will with many “contingencies” and “in the event of,” the double meaning of words, und the divers interpretu- tlons that may be put upon them mak- ing many a tangle. The cross-word puzzle craze more than anything else has shown to the average layman just how many mean- ing a word may have. Hefrs-at-law are just as liable to go to law over a twist that may make a sentence read more favorably for this one or that one, necessitating the use of the plain- est of language and the precision of a legal mind, trained to understand the custom of the bench In interpreta- tions of certain terms and under all circumstanc so that the pitfalls may be avolded and the wills of tes- tators be carrled into effect, provided they are not in direct contravention to and the legul rights of heirs. is not a matter of news but of that there are 48 States in this Union, and it is a disconcerting propo- fact sition to the home will maker to know that each of these States }as dif- its code as to wills and their integrity. An Anclent Motto Still Good. “Every man to his own trade” is one of the oldest of sayings and Yet one of the wisest. It requires the services of a good lawyer to draw a will that will in- sure the distribution of an estate as the testator may direct. A thousand and one slight inaccuracies may Viti,| ate it. The saving of a few dollars through the homedrawn document may result in the expenditure of hun- dreds, even thousands and frreparable loss to some of those whom a man or woman might desire to help ma terlally and at once. If you have it in mind to draw your own will, stop, look and listen and you may change your mind. Even a lawyer should not and usual Iy will not take the responsibility for this important action, fust as a doctor naturally hesitates to prescribe in a desperate case for any of his own family or a surgeon will hesitate to operate on a close relative. A Percentage Case. “william Andrews,” a name that| will do as well as any other, made his own will. He left a certain per- entage of his estate to a son and an qual amount to a daughter and a #mall pereentage to an institution of learning. and then disposed of “the residue of my estate” for the benefit of the kame college. Unfortunately, the daughter dled shortly before the father, and the Jatter did mot take the trouble to de stroy the old will and prepare a new document. The courts are now (hreshing out the questions involved, arising from a claim of the son for the sister’s share. with an alternative claim of 40 per cent of it, in the event of being denled the entire amount and with the college insistent on re ceiving ull but 40 per cent of the estate as “residue” of the same, 60 per cent in all. This teaches prompt_action in new will, tearing across the document or in some other wa immediately following the demise of one of the benefictartes, or of making prepari- tion for just such a contingency when drawing the document. Couldn’t Stand for Son-in-Law. “John Henry” could not stand for his daughter's husband, “Katy's man” being a perpetual thorn in his side When he decided to prepare his will he made it short and sweet. He left so much to Mary, so much to Jane, something to a grandchild, and then ended as follows: “I specifically and solemnly declare that it is my wish that not one cent or other val- uable asset of my estate shall go di- or indirectly to my daughter Katy or to her husband, Harry Jones, or to any one by the name of Jones.” Evidently he was after Jones and Katy, but the total of his bequests was thort of his total estate and the disinherited ones made a successful contention for an interest in this un willed fraction—the courts upholding thelr claim. This is one of the cases where an interpretation of & will made the testator “turn over in his grave.” Perpetuity Undecided. She was one of the ablest of the many bright women in the National Capital—a woman of the world, from the business point of view, well versed in customs and practices and knew exactly how she wished her estate of millions distributed with reasonable dispatch and unnecessary expense. She was wise in her day and cov- ered every point carefully—every point but one, and that one brought uneasiness to the heirs. The estate was to be held in trust until the “youngest child of a niece should be of age,” the testator having in mind a young lady not far from the legal age. In doing this she evidently forgot or did not know that all the courts in Christendom have so far fafled to rule on the age at which a woman may no longer be considered a pos- sible mother, for the records show mothers of seemingly improbable ages Long-time, expensive delays would have resulted unless tho heirs had compromised the matter out of court. In law an estate may be main- tained intact in trust until the age of any beneficlary specified and 21 the necessity of cancellation by a years thereafter, but it {s agalnst Financial Hi public policy to perpetuate an estate for @ longer period. ‘Wife Must Not Be Witness. Tt does not vitiate a will to have a wife witness the signature of her hus- band where she is named as one of the beneficiaries, but in such an event the wife loses all right and title to the share of the estate willed to her. ‘What more natural than that a husband, particularly in stress, would call upon his wife to witness his sig- nature! What more serious to her and entirely at varlance with the testator's wishes and desires than that she shall be disinherited! John Degen did not know much about law or courts, but he just hap pened in his home State and hls homemade will 1o be exclusively right 1o the point when he wrote: I, John Degen, leave all my money in bank and otherwise to Jenny, my wife.” Jenny got it without extra expense or question. In one State a will was voided be cause the testator had purchased a form with the usual preamble printed and then completed the document in her own handwriting. This would not void a will in the District “Please Explain? There is a good story of a pro longed legal tussle over a will where there was 1 no contest except over the interpretation of some sec tions of the document submitted for probate. Legal lights and the been making strenuous efforts fo days to reach a conclusion in th matter, all In the friendliest of effort One evening during the progress of the trial the judge and counsel were guests at a function in a suburb. This may or may not have happened before the Volstead law was written. In any event, there was conviviality in large degree, and en route back to the city one of the eminent coun- sel alighted from his machine, mount ed the fence of the cemetery and called loudly to the testator to “Please explain. Rise up and explain what you meant, please?’ A Massachusetts Law. Massachusetts Supreme Court on record as holding that the destruction of a will does not but a republica judge had The goes mere revive an earlier will, tion is required. In other jurisdictions the reverse is the case and the testator destroy fng a later will with intent to rev an old document, or rather a previous one, will do well to see a lawyer in the matter. It is a maxim of Virginia courts that a testator can disinherit next of kin and his heirs b | willing his property to others. Though the intention to disinherit be ever so apparent, it is obligatory on courts to permit heirs so disinherited to s {n any undevised property A trust officer at one of our local trust companies gives the following as among the not in homedrawn wills, misston and omission, that n adjudication and expense, often run ning into thousands of dollars errors of com Some Common Errors. Failure on the part of a testator to | leave, sell and convey, when a testa- tor instructs a trustee to sell certair lands or other realty. Disposition of the residue of estate—as shown before, that all an estate must be disposed of. Words, phrases and sentences pable of more than one interpretation, which forces the executor to £o into court to have a will or part of it in terpreted. Trusts, where the objects poses therefol 3 eAr. Violation of laws against petuities. Effect of devises and bequests made to persons dving before testator Misnomer of legatees—mixing up of children, adopted children, grand children, ete. Yailure to express exact intentions. Failure to specify that administra- tor shall not be asked to give bond, where the wife acty as administratrix or some relative in whom testator has utmost confidence. the of and pur- per ‘Wisdom Surely Suggests. Wisdom surely suggests a method of avoiding tedious delays in the settle- ment of an estate; just as it does a v to avoid the thousand and one technicalities of the law and that is by having trained Jegal mind at your command. In other words, hire a see a trust company. Many homemade wills are brought to trust companies for administration, although, as & rule, the testator with wisdom and estate sufficient to tuke to a trust company, usually consults with the trust officer or officers in the formative stages of the will. COTTON MARKET WEAK. lawyer or SW YORK, October 24 (#).—Un | favorable weather prospects induced buying in the cotton market early to day, but after selling up to 20.73 January reacted to 20.49 and closed at that figure, compared with 20.36 at the close Friday. The general mar ket closed weak at a net decline of 1 to 8 points. Two more private crop reports were tssued, one estimating a yield of 125,000 bales, with a possibility of 15,500,000, while the other placed the crop at 14,961,000 bales. Eleven of these private estimates have been issued in the last few days, with dif- ferences of opinfon reflected by the fact that they have ranged from 848,000 to 15,125,000 bales, with an average of 14,617,000 bales. A can- vass of New York Cotton Exchange members this morning showed ex ation of & Government report of 14,779,000 bales. Judging from these averages, the market seems prepared for a crop report of around 14,750,000 bales and ginnings of approximately 9,500,000 bale: ghlights of Past Week Brought Out in Nutshell by Statistics Bpecial Dispatch to The Star. NEW YORK. October 24.— Stocks (average of 50 issues).. Bonds (average of 40 issues).. Foreign bonds (average of 10 issues). Federal Reserve Ratio. Money rates in New York. call .... Time . Unfilled steel orders. . eeees. Pig iron production.... Building permits: Number of cf Amount .. mmerrm fallures: Number . Liabilitles .. Revenue car loadings. All commodities Grain and grain pre Coal and coke. Forest products Miscellaneous products Sdys gtack - Month of Sept., 1925. . $374,866,007 $27,041,388 Week of Oct. 10, '25. Previous week. This week. Last week. High. Lm\-. High. Low. . 130.38 128.5! 128.41 27 Thls“eek Last week. .. 84.24 8410 ia z '.‘;i;lb.l 18 103.01 s wee! week. Year ago. 72.8 TL.T “fi) This week. Last week. .. 4 toh 4% to5% 4% to b 41 to 6 Month of Month of Aug,, 1925. Sept., 1924. 3,512,803 5, oas 750 87,241 1442 3,717,207 90,873 369 316 369 $391,458,707 $272,085,007 1,518 $37,158,861 1,284 1,106,099 43,214 197,199 70,927 437,021 62,313 44504 1,112,463 47,719 186,644 70,700 442,431 63,169 41,308 the | infrequent errors ' ressitate | ca- | MEXICAN BONDS LEAD SATURDAY MARKET Bcore Brisk Advance, While French Issues Are Weak. Domestics Quiet® By the Assoclated Press. October 24.—Trading s abbreviated session of the bond market was focussed on the lively fluctuations of the foreign group, in which the brisk advance of Mexican issues contrasted sharply with the weakness of French obliga- tions. Domestic bonds marked time in uneventful trading. Fresh buying of the Mexican bonds was promoted by the revision of the 1922 debt agreement, enabling Mexic to resume interest payments in 192 After a steady rise of several weeks in anticipation of this step, gains of the principal assented issues wers ex- tended 1 to 2% points today, pladnz prices around the highest levels of the year. Accumulation of adverse factors in the French financial situation culmi- nating in_the acute crists now con fronting the cabinet, proved too much for French bonds ind prices crumbled sharply, coincident with the precipi- tous decline in the franc to a new 1 low mark, slightly above 4 o Losses of a point or more wi 1 among French government and municipal Joans. CLOTH MARKET QUIET. Coming Government Cotton Re- port Slows Up Buying. NEW YORK, October ton goods trading wa day by expectations of another - ernment cotton report on Monday Print cloths ings were down out 1y cen ompared with a k ago, f goods remaining ically unchanged. rns were quiet and high and very firm, with demand for burlaps active for the spot and nearby goods. Sflk manufacturers bought raws in small lots on the improvement in Spring trade for sheer and printed materfals. Heavy knit goods were well sold, spot and nearby demand having cleaned up stocks. Lines moved more freely ‘Wool markets were firm, wool goods for early ship- ment were bought quite freely for this perfod of year $2,000,000,000.00 'Tnken Annually by Fraud is the st of the N Sart of 1 ment in frauduient sect The danger of loss is avoided by invest U in couseryatis the' properties e mecured. In- Louis P. Shoemaker (Established 187 1407 New York Ave. When You Have Funds to Invest, Consult WELCH, Loan Specialist Established 1899 619 and 79, Real Estate Notes for Sale Amounts from $250 up to $1,000 or more. Consult WELCH, Realtor Loan Specinlist 15th & N. Y. Ave. Main 4347 SYCHOLOGY OF THE STOTK MARKET cloth bound book written by a leading inancial authority Contains many scientific facts of great value to investors and traders. Complimentary copy furnished while umited supply ia; Ask for R Ruhrd D. Wyckoif Analytical Staff, Inc. 42 Broat New York AN INVESTMENT No Stocks No Bonds No Fluctuation An absolutely safe investment, under Government control, re. turning about 5%% interest. An income for vourself or fam- ilv. not affected by death or financial conditions. Backed by company of over $250,000,000 ns- Let me explain, then con- ur banker or lawyer. W. N. BURR 524 Transportation Building Phone Muain 4057 WE PAY MORE lNTEREST ON SAVINGS ACCOUNTS Any Other National Bank | in Washington ! Interest on DAILY Balances Come in and let us explain Commercial Nat'l Bank 14th and G Streets Resources $17,000.000 R. GOLDEN DONALDSON, PRESIDENT TRUST 6 l/ 2 % NOTES GUARANTEED Real Estate FIRST Mortgage & Guar- anty Corporation 26 Jackson Place N.W. Guarantees its first trust notes as to payment of in- terest when due and prin- cipal at maturity of note. Denominations $100 $500 $1,000 Resources Over $2,500,000 L.E.BREUNINGER, President 1 | FOR SALE_4 shares common, * shares | proferred” stock of the American_ Coal oration. Bk of "y Voghibgion, First Hortgue Notes For Sale In Denominations of $100, $250, $500, $1,000 617 Interest Secured on D. C. Real Estate Wm. H. 1433 K S = TO LOAN REAL ESTATE 1st and_2nd Trusts om Property & Soeclalts Call Qur Loan Dept. N. L. Sansbury Co.,lnc 1418 Ey- St. NW. plant located South Wash- Submit offer to National executor of H. C. Duftey. AND UP Continental Trust Company Capital One Million Dollars 14th & H Streets * | T AN TRy Saunders Co., Inc., fstlished 9 Money to Loan Secuzed by Airst decd of trust vnuwum-.l and en:?m’:“o;n.“ WE FINANCE —all classes Large Loans a Specialty Current int. rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. We Ofier an Unusual For Investors First Mortgage Notes Secured on Northw Residential Properties Denominations of $100 Up See Mr. 0'Donnell. Mortga; 14th & K strictl tionally mterestm% become members FIRST MORTGAGES FOR SALE Denominations of $250, $500, $750, $1,000 and Upwards 627 All Loans Made on Property Located in the District of Columbia JAMES F. SHEA 643 Louisiana Ave. N.W. ell er 420 Wash. & Trust Bids... 9 ¥ N, of income-producing property Opportunity When You Need a Loan Think of WELCH, Loan Specialist Money to Loan At 519 and 69, INTEREST Before Flacing or Renewing Your Ist or 2nd Ty Consult Welch, Realtor Loan Spectalist Quick Repll Reasonable Charxes 15th & N. Y. Ave. M. 43464307 7% Mgr., Department Main 9080 ERSONNEL VERY officer and director of the Oil Burners Finance Cor- poration occupies his position by virtue of purchases. Each is a leader in his line—all are in fields of acthl.g that will be cov- ered by this Corporation. This local Corpotatxon offers an exce proposition to those who 1t on this first stock issue. Write Today for Prospectus and Full Details. Oi. BurNERs FINANCE CORPN. International Building 1319 F Street N, W. Phone Main 5874 Main Quarter of a Century Wthout a Loss CONSUMPTION versus INVESTMENT A DOLLAR SPENT is a dollar GONE—but a dollar in- vested in our FIRST MORTGAGES —is a dollar plus 6%4% FOR EACH YEAR you invest it. In Amounts of $250 and Up SAUL CO. 925 15th St. N.W. B. F. 2100 1 | No, not robbed by a “second-story artist,” even worse—morally—the smooth-voiced, scheming pro- moter who persuades you to invest your money in a get- rich-quick stock organization, Heart of the Nation™ HOW WOULD YOU LIKE TO WAKE UP = |l Good morning, Investors! 1 This is Station Shannon & Luchs 1 at the * i i : I SOME_MORNING AND FIND YOUR MONEY ALL GONE? but by one THIS CONDITION CANNOT HAPPEN IF YOU INVEST YOUR MONEY IN OUR FIRST MORTGAGE NOTES They are always doubly safeguarded by conservative appraisals and wide margins of valuation. ing the ample security, they yield a liberal rate of interest, Notwithstand- A request from you will bring detailed information without cost or obligation. Don't postpone this important matter another day. MORTGAGE INVESTMENT DEPARTMENT 713, 715 and 717 14th Street NW. Main 2345