Evening Star Newspaper, November 22, 1925, Page 96

FINANCIAL. rd STAR, WASHINGTON, D. ., NOVEMBER 2 THE SUNDAY WIDE MOVEMENTS -~ IN CURB MARKET Million Shares of One Stock Change Hands in Week. Rally Yesterday. B, \ssociated Press YORK, November 21—The that developed in the last rading on the Curb Exchange in marked contrast’ to prevailed in the opening in Urgent buying appeared he eral list with the result that carly losses were quickly recov ered. Oil shares were also in better demand under the leadership of In- ternational Petroleum, which rose about 1 point on heavy sales. Much Forced Selling. trading included a s of acute un- chiefly NEW h hour's today was which week's veral da nd uneasiness, The et mary Exchange maired securi auidati 1 a 1hoderite dec in tock im- the sharp 1ps of stocks on U whic) ers said 1 es W carried very, reflecting t the the stocks i utility > scale and idest movemen 1,000,000 shaves Northern Power changed hands on wide fluctu- wions, including a decline of § poinis 128, followed by advance to to ! were or sues had 1 Ovel States 146 National Power, after vielding 4258, moved up to 440. Lehigh Power, After fallir from 3-5 to 181, re- covered a rod part of its loss, e i Railway irities, one of the ower-priced was prominent, up an | < stoeks were features in the | led by General which rose over 3 point 10 above 80, Attention was attract- ed to American Seating stock, which on small transactions ranged during the week from to 285 rans- | Lux was disturbed in its position by the litigation of patents a sed to 11 Nickel Plate stood important feature of the aneing from 1053% to the 111, afterward Bakir industrial Raking A sroup, < un market. adv new high At heavy ducers. of trading which 31 IRELAND MAY REDUCE NUMBER OF SALOONS| 8 s Creek Pro- runged from 297 to Almost Half of Drinking Places Should Be Closed, Commis- sion Recommends. By the Associated Press LONDON, Neovember 21 thousand of the 15,000 drink shops in the Irish Free State will be wiped out it the recommendations of the govern ment commission which has been in- quiring into liquor traffic are adopted These recommendations would leave one drinking place for every 400 of population. or about $,000 for the whole country. The liquor sellers wh would remain in business would be obliged- to compensate the ? out by a levy Selling of liquor on Sunday not be abolished, but traveler whom liquor may be sold on Sunday, would be required to travel 10 miles instead of 3 at present, to qualify as bona flde travelers. The idea of making St. Patrick’s day, March 17, wholly dry has been given up, #nd the commission has recom- mended that this holiday take the same status as Sunday. The commission recommends that arunkards on their third conviction be jailed without being given the option of a fine and that driving an auto mobile while intoxicated be made punishable by cancellation of the driv- ing license and imprisonment The commission reports a diminution in drunkenness ovut Ireland. In 1870 con tions for drunkenness in all Ireland reached £3,470, while in 1924 for the Free State they were reduced to 6,86 This s attributed mainly to the high price of alcoholic drinks aused by w tax ation, which the commission would have continued. USE OF COSMETICS SURPRISES GERMAN Several | marked hrough Speed of American Girls in Apply- ing Them Revelation to Reich- stag Member. By the Associated Press BERLIN, November German | women and girls till are for hehind | those of the United States in the art of applying cosmetics, is the conclu- sion reached by a_well known soc ist member of the Reichstag, who h returned to Germany from Ameri where he was a delegate to the Con- gress of the Interparliamentary Union at Washington. Admitting that the Parisiennes lead the malds of Berlin in this respect, he is inclined to award the palm for rapid painting” to American femi- ninity, whose dexterity wielding the powder puff and lipstick stunned him. *“American women still fluenced by the recollection of the cu toms of the American Indians, who were adepts at applying pigments to their faces hefore entering upon the hase or scouting exp itions, ob- ~erves this critic in the official bulle. tin of the Socialist Democratic Party ses amazement over the treedom with which facial adornments ave applied in full view of the public. | It seems, however, to he versy simple operation.” he continues. “One | worning I encountered in the aisle of a Pullman sleeper a lady who in the | course of the night had changed from what had scemed to me to be a boarding school miss into a venerable looking matron. An hour later I dis- covered her in the dining car, com- pletely rejuvenated with the aid of her rouge and lipstick.” Reichstag members returning from the Washington gathering are regal- ing German newspaper readers with columns of American impressions which about equally divided be- {ween comments on economic matters and on the part played by women in American life. are in- Quick Lunch Hits Paris. PARIS, November 21 (#).—Broad- way tame to the boulevards recently when the Parisian took up the “quick Junch” plan. A sign on a restaurant just around the corner from the Boulevard Montmartre reads: ‘Pa- trons who lunch here between 11 oelock and noon will be given a re- ductlon of 25 centimes. Think of others and hurry up.” | zrea | storms, that were organized on | the strenuous day ! war, have reached [ mua { ords indefinitely organized in | them | % | Mr. Munsey immediately 0. 1925 - PART EXCELLENT FINANCIAL RECORD MADE HERE SINCE JULY 1, 1907 Many New Banks Formed—Some Consolidations Practical Failures Without Loss to Depositors. Large Gains in Deposits. BY L A. F 1907, was W Washingion luring the Summer Around the han ing of uneasine: nk of costia, tal Brightwood, o avings, Internationul Exchange, Mount Vernon. North Capitol, North st. last Washington, Park, Seventh et. Washington Savings, Wood- | ridze-Langdon, Industrial.and Pruden- { tial are all new institufions that have mude good and are all functioning today The Central Savings is the candidate for patronage in the savings group, It is under the presidency of Francis P. Savage. Many Have Come and Gone. During the years that have passed since 1907 many banks have come into being and have not survived the heat and burden of the day or have been absorbed as desirable additions to going institutions, with ome taken over in such a wiy as to avold loss to depositors, stockholders shifting for themselves. The Standard National and Dupont National were and are not. the f nmer being taken over by the District National, the last numed by the Merchants' Bank & Trust Co § AL trust companics of 1907 are still in the promise to con tinue. large number of savings banks » closed, some for the elty’s good. 1 were saved failure by action ther banks, the \ shington clearing house functioning splendidly in preventing loss to depositors Leading Bank Mergers. fmportant insti tutions that have gone through mergers or otherwise are the Ham flton and Northwest Savings, absorbed Ly the Riggs National in its new policy of branch banking, the Nation al Iixchange, National City, with the Union Savings, the iatter one of the oldest of savings banks and at one time very prosperous, more recently absorbed by the Continental Trust ¢ The few savings banks doing busi ness back in 1907 are still, with ex- ceptions noted. in the ring and mak- ing good. of which more anon. : Back in 1907 there was a Citizens Savings Bank, operating with success which was absorbed by the District Natlonal in 1913, It was entirely separate from the present-day insti tution of the same name. Emergency currency and Federal reserve legislation enacted by Con- gress stand out so clearly and of such comparatively recent date as to re- quire no special comment Both served the Nation well, former in the emergency attending the opening and preceding the World War and the latter being essential in making ble for keeping our factories and labor busy, then financing our own share of the great struggle. through the sale of Liberty bonds and Vietory notes. Incidentally the Federal reserve act is largely responsible for the pros- perity of today and is an insurance against a money panic ever retur ing to disturb us Coupled with the reserve act, the method of conducting dally clearings of local banks, par collection of checks and almost in: neous transfer o noney in quantities from one sectior Chuse, Depart Chevy | men months. s there was a feel not unmixed with he dread of probubilities, for the rich man’s panic was just getting unde way. In other sections of the coun try banks were refusing to pay out ash over their counters, or endeavor- ng through suggestion and urge to ‘educe withdrawals to act neces- i dty, discouraging speculation, every iew enterprise or enlargement of old and insisting on a general let-up in xpansion. It was a case of our non-elastic currency again brifging disorde; vith a ‘serious slump on Wall Street and the passing of many banks in various sections of the country Currency was at a premfum in aearly all the large cities, bonds were still selling on a low-in rest basis vith a disastrous slump at hand 1 anything but pleasant mditi the banking and security rests and was reflected to a r oor lesser degree throughout tndustry generally. although not af ecting the general public as greatly s did prev panles Record of the the interim a period of prac IS years and 5 months has It marks my connection with financial Washington Consideration is given penings in financial Washington dur- ing this interim. with a record that has given this city position and pre eminence a financial center, far creater than' even its 1aost enthusi astic well'wisher every dreamed pos. sible. Records institutions of available, but two ve: banks of the city held § TR.000 de. posits; were capitalized at $10.977,000, with surplus and undivided profits of £6,445,000, with loans of £37.000.000. On September 2% Lust, the date of the Iatest call by the controller of the currency, deposits stood : 000, a record in the ste rapid growth that has been most marked in the davs since 1917, Surplus and profits will appear later. Larger Number of Banks. rjoys latest National, Traders’ business and Interim. of n tically passed to the hap. Among the more of fiseal are not previons deposits in local July 1, 1907 under consid have been interim new banks ganized, some to grow in impor tance in their service to the com munity, others to serve a brief period, longer or shorter, as the case may be and then to be a matter of memory, absorbed by other institu: tions or, facing failure, have arranged for liquidation for the benefit of de- sitors, with shareholders left to ft more or less for themselves. Banks that have weathered During the tion many the »und principles, that safely passed through of 1907 and again and survived the a1 stuge where they be expected to continue to fune- splendid rec: in 1913 and 1914 tion and maintain their Outstanding Happenings. Outstanding happenings during the period considered included the merge: of the Home Savings lz.m‘r with the American Security and Trast Com- pany, which occurred in 1919 The former was a saving the central district, organized by B. F. Saul and a few friemds in 1889, and enjoyed the distinction of being the first bank to make a contract for ad vertising space in The Evening and Sunday Morning Star, a fact that is accredited by its founders with being largely responsible for obtaining $10. 000,000 deposits during its 20 years of existence on a capital at the close of its career of $100,000. It operated a number of branches in good sections of the city and was sufficiently attractive to bring the equivalent of $400 a share in the merger with the big trust company. Federal and Federal-American. The Federal National Bank was orzanized one night and nearly all the stock was subscribed for when books were opened the next morning. Tt was an offshot in a literal sense from the Commercial National Bank vhen a large number of influential directors objecting to the policy o control walked out and at -once organized the Iederal, with John Poole, former cashier of the Com- mercial, as ident. The blow temporaril; red the Commercial, but it bravel faced the music and vecouped steadily to its present enviable position. The United States Trust Co. was 190° faced varied aveer, bought up under Mr. Jordan's presidency the Merchants & Me- chanics Bank and branches and sev- eral minor Institutions and operated as branches. In 1913, after serious runs for three days tuken over by the Munsey Trust Co. New Banks Formed. The Merchunts Bank succeeded the Washington hern und develope into the $1.000,000 Merchants Bank & Trust C The Munsey Trust had organized a few yvears before with a capital' stock of 2,000,000, owned largely by Frank A. Munsey of New ork City. It has been under the management of Mr. Pope continu- ously and has met with 2 measure of success, increasing its deposits and business greatly by the acqu ton of the United States Tr disposed of the various branches of the United States Trust Co. The Franklin Natlonal and Dupont National were organized and later the Savings oceupying quarters formerly occupied by the United States Frust branches while the main office of the latter operated for some vears by the Munsey Trust The National Bank has grown steadily in importance; the Ex change was absorbed by the chants Bank and Trust the Dupont National, of whi | W. Spaild was president. ed lue. est cost, have come to be recogn: anding benefits of great v Branch Banking. The Riggs National Bank inaugu- rated branch banking in Washington for national institutions and the Sec ond National, Franklin, District tional and Lincoln Natlonal each open- ed a branch, the Riggs having four, all in the northwest section. Trust companies and savings banks have long operated branches. The section of the r rve act per- mitting national banks to operate as executors, trustees, registrar, etc., un der restrictions of lc 1 laws has been of great benefit to 2 number of the larger national banks meeting the £1,000,000 capital requirement of the local law. Changes in Personnel. bank in Two bank presidents, in conversa- tion the other day, agreed that the op portunities for advancement are not as satisfactor ago Since 1907 there has been a great change in the personnel of Washing- ton bank presidents and vice presi- dents as well as In minor officials. Scores of bank presidents have been elected in the eighteen years and five under review, scores of vice presidents and under officials, Tre personnel of local banks has almost completely changed during these years, and if the same pace IS maintained up to 1943 and 1944, then ndeed will opportunity be Kkept busy knocking, knocking at the doors of young men. In a later issue, this review will be continued. with intent to suggest further changes that have taken place; the banks that are still under the generals who commanded in 1907; the capital, undivided profits and sur- plus of the varlous banks in e istence before the war and their capital, surplus and undivided profits today. Dev of Wz cline lopments in the stock market shington. the advances and de- in prices, the enviable record lished by the District Bankers’ ion, ete., will all pa under re- view in an_attempt to make a com- plete record of the amazing financial progress made in less than tw decades. SOCIETY T0 PRESERVE GERMAN-AUSTRIAN LINK Formed to Keep Alive Cultural Bonds Between Two Nations. « been TUnion By the Associated Press. BERLIN, November 21.—A German- Austrian union has been organized to promote economic relations and keep alive cultural understandings between the two countries in preparation for a time when Austria may unite with Germany On the executive council of the ! union are Karl Jarres, nationalist can- | didate for president, who withdrew in {favor of President von Hindenberg, |and who is now mayor of Duisburg; | More Banks The Security cial Bank; the Dis tional Bank, successor to Harper & Co., and the Liberty National, successor to the Lib- erty Savings Bank, all very prosper- ous institutions, are part of the in- terim record. Mr. Harper had retired from the American National and wished to re- turn; naturally he came back strong. Julius I. Peyser w chief organizer of the Security Savings and Commer- cial, of which he is president, but he has practically left the active man- agement to Vice President Addison. George O. Walson, one time cashier of the Union Savings and Commercial and president of the Anacostia Bank, | went with George W, White to the Metropolitan when he became presi dent of that big institution and then started, most unauspiciously, his pwn savings venture, with a personality that has won success in the Liberty National, its suc The Continental o, Nathan B. Scott as president, suc- ceeded later by Guy T. Scott, was started and, with Wade H. Cooper as present executive, it gives strong promise of steady advancement. In the savings bank group Count Hugo Lerchenfeld, former Bavarian premier, and Dr. Ricarda Huch, author. Explaining the objects of the union, | Franz Schweyer, Bavarian minister of | the interior, said he was aware that | the purposes of the union might be | misconstrued by some allied circles. “The union is a non-parti propagandist organization, | Schweyer said, “fully aware that a union of Austria with Germany would inot be countenanced by the allied powers at present. The union will at- tempt to pave the way for complete | understanding in anticlpation of the {union of the two countries. Racially |and culturally the two peoples are so | closely related that Austria might well be a part of Germany. Too Ambitious. From the Los Angeles Times. ‘There are massive locomotives now being built that cost more than $100,- 000 each and yet some fool driver of @ motor car thinks he can push one of them off at a crossing. the the | loans to the allles, responsi- | of the country to another at the small- | as they were a few véars | | IREDISCOUNT RATES GRIP WEEK’S ATTENTION NEW YORK, November 21 UP).— Hardening of rediscount rates to 4 per cent by the Federal Reserve banks of Cleveland, Philadelphia and San Francisco, leaving New York as the only central institution with the 314 per cent charge, was generally as- cribed by Wall Street as the excuse for the sharp reaction in stocks this week. !"The selling was bused on the theory {that the higher rediscount rates | would result in heavy withdrawals !of interfor funds from New Yurk,: | thereby curtailing the supply of loanable funds on stock collateral. | SHARP REACTIONS IN STOCK PRICES Break Laid to Reserve Bank Rate—Motors Are Hit Hardest. '$5 PER BALE JUMP IN COTTON MARKET United States Report on Probable Crop Causes Vary Sharp Price Advances. By the Associated P 3W YORK, November 21 prices experienced another sharp react tion today with selling probably in- | spired by the raising of the Francisco ¥ederal Reserve Bank r making the 4 per cent charge effective in all reserve centers outside New York. The selling, which is reported to have originated largely with bear traders, was most effective in the motors and high priced industrial specialties, with most of the standard industrials and rails showing only minor recessions, By the Associated Press. chief | : Consolidated Asbesto Canada Corporation Gives Out Terms of Agreement for Vote on December 18. By the Associated Press. MONTREAL, November 21.— The Asbestos Corporation of Canada is- sued a statement today giving terms of the proposed merger by seven ashestos companies would combined. A peneral meeting to vote on the merger was called for Decem ber 18. The companies in the merge are: Asbestos Corporation of Canada, Federal Asbes tos, Thetford Vimy, Maple Leuf As bestos Corporation, Asbestos Mines and the Black Lake Asbestos and Chrome Company. Preferred shareholders in the as- bestos corporation are to receive for each share one $100 bond, one-fifth of a share of new non-cumulative 7 per cent preferred stock and one share of no par value common stock. Bondholders may exchange their present holdings for new 6 per cent bonds, and holders of common stock will receive one new share, one-tenth Outside the stock market, speculative interest centered the further collapse of French francs to # new low record for the year and the sharp rally in cotton prices which of the Gov- | NEW YORK, November z1.—The iovernment crop report was followed an of mearly a cent pound cotton market cts, which had sold off ce the bureau veport ad 104 points from the in advance a @ the by followed the publication o ernment crop estimate, showing a re duction of $8.000 bales in production. | Motors Are Weakest. Motors showed ck of effective buying support. Chrysler, which sold | pova Frids Las high only i few weeks ugo, _ «d down to 184 and then closed at 20, ‘”' ratlied 10 1843, for a net loss of abou | ket closing steady o 10 points. Hudson sold down to 907, | 60 to 74 points. - o crop indication 15 against the sear's high of 1391, | The reduction in the crop and then moved to 91%, off 3% on | from 15.386.000, as of November 1. to e 15,298,000 bales as of November 14, Sl did ot seem to be a very important on one sale, Muck Truck and General | change on the face of the figures Motors each closed 3 points lower at | Combined with the ginning returis o 215 and 213, respectively, and Jordan, | only 12,249.935 bales to November 11 Pierce Arrow. preferred: Stromberg they evidently created a and Yellow Truck, fell back 1 to 2 points. White moved against the cur rent trend, closing 1% points higher, 1t 831, after having sold as high as 847 vaneed to 20.1 low level of the morning and 63 points Jan ¥'s closing quotation. ine general mar net advances of Motors broke 7 points to 432 however, pression that ¢ b ighest crop fizures of the bty that estimates of the yield mizht have to be scaled-down seemed to be emphasized by the supplemental report stating that because of the low price some cotton might be abandoned the fields this season season ot Dupont er Stocks Break. 15 hammered down over § | points to 213% 1 American Can Atlantic Gulf and West Indies, bwn Shoe, the Commer 1 Solvents issues, Mathieson Alkali, Sears Roebuck and United States Cast Iron Pipe showed net losses of 3% to 61% points. United States Steel, mon, closed 1% lower at 129%. Radio Corporation touched a new record low at 391 There were a few industrials to show independent strength, Federal Mining and Smeltin common and preferred; Liggett and Myers issu and Devoe and Revnolds advance 4 points, all but Federal Mining melting, preferred, to new high | levels for the year. Rails were slight Iy reactlonary, although Chesapeake and Ohlo, which was heavy vesterday, closed 11 points higher at 1183, French Franes Lower. ' { 3 | et reopened, and while the first advance was followed by moderate s under realizing the highest levels were reached in later trading December selling at 21.15 and March ).24. or 69 to 82 points net higher on the active positions. were within 5 to 10 points of the best con )3, ' Spot Cotton Steady. NEW ORLEA Kovembe —Cotton futures closed stea dvances of 55 to 70 points. Dece: 0.10a20.13: _ January, 2 March, 19.35a19.55: May. July. 19.05. Spot steady middling, 20.37. BAI.’TIM‘OBE ;RODUCE. French francs broke 10 points be-| gALTIMORE, Md., November 2 low last night's closing quotation 10 | bty WG IRt of poultry in axonnd -"“~ dents \“‘:}l'];:"""r‘"":“i‘f:‘: { tended for the Th.mk:cl\lm: holida sharply on sho: 3 er d | harket should be timed to reach here sterling held fairly -}“‘""“ {“j“‘""} not later than Tuesday morning for $4.541,, and French (AnCS around{live and Wednesday morning for 4.00 cents. Pollsh slotys rallied 20| gressed. In shipping dressed oty points to 15 cents . YEAr 8 kil only cholce fat birds and see that fow ettablisheq yesterday. Other lead- | kIl only cholce fat BifcE &70 Lo ooy ing rates showed only nominallle PG Turk naturall changes. will be the principal attraction. and mber, i i | | T | Canada. i | | | large fat birds will be preferred. On dressed poultry scalded undrawn head WALL STREET BRIEFS | |:ni Teet o stock i preferred on this | Teceipts of live turkeys have been T b : fair the past week, and wit NEW YORK, November - | running falr ] il g I6GMInE: forwac an increasing demand the market . oun, s @ robblers 9 ounds earnings statements for ;)an;‘t-r 1;).» :‘,'\'(}"‘i\'l';" “::;'1 el few reports made public thus far|a! DEEE, iy reasts e compare favorably iwith the same |Poor and crooked breasts, however, S cton Mlover 25 to 28. Medium to large g being offset by EEX '"’I. pring chickens in good demand at operating income, due to increased | TPTE Leghorns, “3 and 24, but operating efficiency. Considerable | =8 and 27 3 i coming New Hawen report, which is|Stock will not bring over 1% to 22, expected to show a substantial return | 207 oo D nenAe 0 erssbihadivin | but poor. thin stock, Leghorns B to 18 Wall Street hears through Detroit | - 5 aucics. contin n good | that announcement is ["m““""I.lp:"”,";‘ 'rr.qfim“.’\. canins afinscood | shortly that Dodge Brothers, Inc. | N B o g : S ham | fat_geese also in good demand at 23 {acquire the business of aham | 6,530 Kent Island bringing top Brothers, one of the largest independ- | (0“0 W0 SICH SO B S |has factories in Detroit, Evansville, T ns: A o {End.: Stockton, Calif., and Torontof| lormer und 23 and 30 = pair for the sell 40 to 42, fair to good. 38 § Infcontzast o aiinensltor it Jand 30, and old Toms 34 and 33, but oty Tas Satowe after interest|Poor and crooked breasts will not chickens are s to 28, with this year. Surplus for the 10 months | Chickens are sellius 20 to 25, with of 1925 was $368.347 against aljyreceed ducks and geese where deficit of $475,902 a year ago 5 to 30, i i Bt Bevebiioise Amsciione [RUE. o Biisw of posiivy Wil net B °E buniniess Smanlcan | v dressed than live. Ice Co. has done this ¢ through | PRE ANV more dresmed Hhan tive its policy of consolidation which has | southern so<called fresh eggs are ertain amount of competition, gives | SrY, lberal, native and nearby {ndications, it is said, that net earn- | S oty fresh esgs continue in very ings for 1925 will exceed $25 a share | constant demand for this sort the O e B T vock | market has held firm all week. With 3 E: et To Dths | the holiday demand to be supplied, ended December 31, 1924, was $1.751.- | ticral’ may dem: St 738 or $11.36 a share. week and will bring better than 60 a : dozen in free ca today’s closing Coal price. ) | market another series of favorable railroad | closed firm today at38 a pound for T st vear “any. reduction in | are in ample supply and will not bring et 5 being shown in the forth. | Black Minorcas and poor and thin roee {and old roosters. are slow sale at 16 + POOT AT glected o 20 e elther has acquired or is about to | Poor are meglected at 18 to e { ent motor manufacture companies. It | yOICG (RS T T T e Cholce to fancy dressed young tur- amounting to $123,684 in October | Uring more than live. Choice younz of = | choice to fancy stock bring While receipts of Western and reduced overhead and eliminated a light receipt and under a good and on 75.000 shares of common stock | liberal shipments are advisable next Under o limited movement Since | American gheny County of $1 pa record ) th y r. November « of Alle- as declared a dividend | able December 21 to stock of | »vember 30, making $4 paid | The company paid $1 on the higher prices have prevailed, the market for white potatoes holds fairly steady at 3.25a4.25 per 100 pound: and 2.00a2.30 for culls and No. 2 Round potatoes preferred and bring slightly higher prices than long stock. Market for sweet potatoes and yams in better shape and firm on all good stock at 5.00 and 6.00 per barrel for the former and 2.00 and 3.00 for the latter. Culls, Number 2 and dirty stock. however, will not bring over 1.50 to 2.00, and bushel hampers 75 to 2.25, as to quality and condition. Native and nearby garden truck con- tinues in fairly good demand and prices hold steady at the following quotations: Brussels sprouts, 10al4 quart: cab- bage, 20.00a30.00 ton: carrots. 4.00a 5.00 per 100; kale, 33a40 bushel; let- tuce, 60 to 1.00 bushel: onions. 2.50a 3.00 per 100 pounds: oysterplants, 5.0026.00 per 100: pumpkins, 5.00 to 10.00 per 100; spinach, 60 to 90 bushel, Savoy cabbage, 35 to 50 bushel; and Westinghouse Llectric International Co. recently shipped 10 indus- trial locomotives and a number of motor-generator sets to the Andes Cop- per Mining Co. for use at their min- ing property at Potrerillos, Chile. The pamphlet report of Martin-Par- ry Corporation for the eight months i of 1925 shows net income of $202,140, |equal to $1.61 a shore on 125,000 no par value shares. The previous re- port, covering the year to December 31, 1924, showed net income of $381,178, or $3.81 a share on 100,000 shares. The fiscal year has been changed to end August 31. Mexico City _dispatches to Wall Street say the National Railways has | signed a contract to buy the terminal |of the National Oil Co. at Her- | mosillo for 272,000. This will afford facilities on a par with the |largest private petroieum companies |and probably will lead to formation {of a subsidlary to take over its pe- | troleum assets along the entire sys- | tem. | CHICAGO GRAIN MARKET 5 i Open. 1.81% & ' Y g3 by Z9a red g e 5 314 b 253 iy The week's bank clearings through- out the country are compiled at $10.- 9,562,340 by the Commerclal and Financial Chronicle, an increase of 7.90 per cent of the corresponding last vear, when the amount was $10,- 012,875,427. New York City showed | an increase of 9.20 per cent. PARIS BOURSE STEADY. PARIS, November 21 (#).—Prices were firm on the Bourse today. Three per_cent rentes, 45 francs. Exchange on London, 124 francs 5 centimes. Five per cent loan, 50 francs 40 centimes. The dollar was quoted at 25 francs 60 centimes. it 232 23 F3 pgpoey <= ) R B3 & a8 e wRi I S8 W Eew GERMAN BONDS AND STOCKS. (Quoted in dollars ver millign marks) S Ger Gt (w In) Bs 1914-18. 400.0 | Hamburg 4 58 1010 . o0 17000 19800 Ger Gt 4-0s (forced 1oan) | Ger Gt 8-15s 1923 (sm D) 2 (Quoted_in doliars per thousand mark Ger Gen Elec 4148 pre-war. 17.00 Ger Gen Elec 415 1919... _1.00 Berlin 48 pre-war. ... *7.00 Hamb 3s, 3158 & 48 Hamburg' Amer. Line 2 North German Lioyd 41s. North German Lloyd Do 33 AVIATION PLANS PI;SHED. ATLANTA, November 21 (Special). —The municipal authorities have glven orders to rush work on the aviation landing field here, which will accommodate the planes used on the new mail routes to Jacksonville, Miami and Tampa and the fleet of commercial aviation company planes headed by Cornellus Vanderbliit, jr., and Detroit capitalists. The fleld will be ready in a month. ¥ 101 > 33 recw . o S 19 D DI : Sk 3332223 3333333 Krupp Bs 1921 Dusseldor{ 4= p: Frankfort a-M 4s pre-wi scho ARilin. AEG ( Bige) 1l Commerz vai Bank’ | Disconto Gellschaft. : Dreadner Bank Deutsche Bank Darmstaedier Ba Mercur Bank Vienna! Beae. 2 o St oEEE 3333 1200000000220 1313eam130) w2 S > ©33333333333233 % 2 - today. | ¢ the market hud seen its | ces went up with a rush when the | il of a share of the non-cumulative 7 per cent stock ynd one share of the no pax ue common stock of the reorgan ized company. ARMOUR SA\;ING ASSETS. Special Dispatch 1o The Sta NEW YORK, November 21.—The Jaction of the bhoard of directors « | the Armour & Co. of lllinols late Fri | duy. when they met to vote on divi- {dends. was no surprise to people well informed regarding the company’s af fairs. In addition to the regular pre- ferred dlvidends only the 50 cent | quarterly payment on the class “A” | common was declared. Nothing was authorized on the “B.” | After £2” annually voted on the YR hoth “A™ and “B” share alike, The directors’ action Friday was in {terpreted by financial interests in [ Armiowr as further proof of the com ! desire to conserve for {the “A™ stock. which the upon |as an issue of investment is s assets look rank . ROAD PLANS TO EXPAND. DENVER. November 21 (Speci; The Colorado and Southern will spend approximately for extensions and | 1926. Ten new fr | latest type w equipment orders. $2,000,000 betterments in be included in — . LATEST TURKEY PRICES. NEW YORK. November 21 () Jive poultry firm. No freight quota Chickens by express, 26a33 by express, 31a33: fow 23435. Dressed poultry ir- Turkeys, fresh Western 40a52: do., Southern, 40a56 Southwestern, 40a51. tions broilers {express regular. { Spring, WOOL MARKET FIRM. BOSTON, November 21 (Special).— Mills are taking o substantial quan- of territory wools off the market here in all grades from quarter bloods {to fines with prices fully up to cur- |rently quoted levels. Considerable {half-blood Prench combing wool was | sold at s and three-eighths i blood wool is held for $1.12 with fre. lquent sales. | = . CRUDE RUBBER DROPS. NEW YORK. November ial).-——‘rude rubber dropped cents ‘(r\d.l_\ to $1.12. A month ago the {price was $1.01 and a year ago 341, cents a pound. Iy (sSpe He Got His Lesson. rom the Boston Transerint “You know I refused vou half dozen times before we were married.” | “Yes,” replied her husbund. T guess | that has kept me from ever wanting 3y own way again.” |- William H. Kyle Loans—Insurance Room 15, 1410 G St. N.W. Negotiated 'MONEY TO LOAN ON REAL ESTATE GEO. W. LINKINS FOR LEASE * Spacious Store in || Washington's Highest Grade | Business Section—Located || 924 15th Street N.W. i Suitable for Investment or Other High-Class Business H. L. Rust Company 912 15th Street N.W. Main 6888 First Trust Loans on im- proved property in the Dis- trict of Columbia. Fiduciary funds. Current interest. Fred A. Carter 330 Investment Bldg. Specialists— —in the finding of Apartment House ten- ants, supervision of service and col- lection of Let our more than a quarter of a century’s successful ex- perience succeed for you. 'B. F. SAUL CO. 925 15th Street N.W, Main 2100 which | be | SEVEN ASBESTOS FIRMS |POLISH ZLOTYS REACH PROPOSE TO MERGE| NEW LOW DURING WEEK | tures were sight engines of the | the | | | [ | i | | | | | FINANCIAL. ALEXANDER BROWN HAS OPENED BRANCH HERE Oldest Banking House Unite States Began Business in Bal- 1800. The Jocal financial district the distinction of housing of the oldest bankin United St namely, Erown & Paltimore Established in 1800, the i ) in the h: h its present Griswold, inal found The 1 dome: 1,000 conne It is represented Kurope and in Aral Korea, India, Japan, Sia 't, every cor Asia 1l Africa. throughout A all of Australa the and Central and South home office was the only d during the great NEW YORK, November 21 (#).—A sharp breal in Polish zlotys to 15 cents, a new 1925 low, was the only important development in the forelgn exchange markets, outside the weak ness of French francs. The other leading European rates moved within rather narrow and irregular limits Wheat prices advanced to 9 cents bushel above last tweek’™s closing quotations in reflection of unfavorable weather reports from the Argentine and reduction of crop estimates i other foreign countries. Cotton fu reactionury rly in the weelk, but closed slightly bove last urday's final quotations as result of the brisk rally foday which fol lowed the publication of a downward revislon of 88,000 bales in the Govern- ment crop report. NEW YO'Bx DAIRY PRICES. NEW YORK, November Butter, unsettled; r tubs. Creamery, highe: 5245, do., exiras (92 sco do., firsts (88 to 91 scorek 46451 ing stock, current make, 3515a39, firm Fresh gathered, 437%: do., fi seconds Pacific in timore in now I n Lead e banki Wes 511%: pack 0. The new local 1424 1 street the managen receipts, 7 xtra firsts, ts storage, d poorer sto FLOUR BIT LOWER MINNI M 3 : st 434 0%a73. Cheese, pounds. FLORIDA “The hoon it the it very FIRs thites. extras AVOLIS steady: receipts, 136,442 Babsor economic movement, 1 unscrupulous and make INVESTMENT WITHOL PERSONALLY LOOKING Do you know. fre c¢hased or contemplate purchasing Would it th respondible “out view point says s s r VISITING OVER THE FIELD nbiased viewp reasons THIE not e de v his Immediately ington busin or a_ reasonable ments of time, he itk or contemplated interests Your inquiry, your name, interests, will be held in strict contidence compensation report that ADDRESS BOX 1sement solicite is_exact % Roxy Theatres Corp. Participating Class A Stock (WHEN ISSURD) Ll e A PRI A | LK SR Have you mi it will be safe and highest current rates Then sce us about our First Mor Real Estate Securities & LUCHY) 713-715 14th Street N.W Main 2345 IRARPA MORTGAGE INVESTMENT DEPT. I o ol o o el e ) o R ) ol ol o el ol ol ol ol el e o What Qur Guarantee Means 6% to the Purchasers of Our First Trust Real Estate Notes 1st. The property has been appraised by men « collec Wash rience, recognized experts in valuing 2nd. You are relieved irom all responsibility o looking aiter the insurance and taxes. 3rd. Each note bears our endorsement, which means that we guar- antee each note, both as to principal and interest when due. 4th. The guarantee of this corporation is better than a personal antee, because its existence is perpetual and the resources of it are over $2,250,000. ' REAL ESTATE MORTGAGE AND GUARANTY CORPORATION 26 Jackson Place N.W. L. E. BREUNINGER, President back BUCK & CO. Established 1916 Direct Private Wire to New York Our marginal requirements are rea attractive to the small trader. From 10 shares up sonable and carried on margin. VISIT OUR BOARD ROOM BUCK & CO. 312 Evans Bldg. Franklin 7300 1420 N. Y. Ave. N.W. Franklin 112