Evening Star Newspaper, December 6, 1925, Page 111

i FINANCIAL. BONDS ARE CLOSING YEAR VERY STEADY High, 10221, 96-§ 102 98-4 10223 99-8 108 98-8 10708 99.8 101 23 ns-az 10> High, Jow. ——10—— 101-29 99 16 Liberty 3ws 1983-47. 102-30 101-1 101-19 100-20 Liberty 2d 4%s 102-1 108-9 HE_SUNDAY BOND SUMMARY FOR THE WEEK Last. Yiel. 9926 8 62 10126 392 100-22 3 89 U. 5. BONDS. High. Liberty 1st 4% s 1932-47.. 1018 101-1 Liberty 3d 43 1025 Low. 99-28 00-22 101.20 101-21 100-26 100-24 101-2 102+ . 10618 lOG-IO Buying By Financial Institu- tions Is Keeping Up Current Values. BY GEORGE T. HUGH Al Dispateh to The Star NEW YORK, Prossive feature ket at the mth of the year is the steadiness in bond the face of practi cilly no trading interest and compara all buyin individual in- < it to the financial in- intain current values Then, t0o, notwithstanding the fact that the discount of the New York Federal Re nk this week was left unchar per cent, 10 one expects in tees to 50 Jox On_the contr it will e surpris it oy mzer period they do not zo moderately higher. e in the Bank of England > was intended to iy, at the end of the we indications that balances s The im fnvestment the last December 5. in the . opening of m prices by stitutions to n we attract gold and York to | to the | jomy zhest owed pretty her in 8 plainly what was going on it appears reasonably an increase in the bank rate is only postponed which makes it more notable bond market is so firm. Commodities Higher. The explanation is that bond prices not governed entirely by fl in money. There are other ¢ 5 that enter into the problem iese is the price trend of wdities. Just now that, too, ap: to be upward, but there a wany authorities who the period commodi > more sell lower than If this s to pass it will is a stabilizer the bond an im theory 1y have upon the ) be so wid common stocks dvantages over ip of shares in erprises protects the the depreciation of the (horate statistics have been in support of this theory ¥ have convinced a good many Certainly the the pe serie onsiderations 18306 down to which t upw one it 1920, corr it 1 was onl ptions, phr: 1w > examined “*high Purchasing Powe No one can de ing power of the $40 from a bond like & Wes to take a seasoned hi ade issue is far below what it was 20 years ago. 11 this loss of purchasing powere we to 2o on indefinitely n to buy bonds a t: ¢ insurance company tions could 1 tin de purchasi vthing of L swing in « - pu ore Four obl hose, But ar to expec ridicu down nd appre er of th Ider will sent hing ities New | Supon | | 113 tup this week | E fianacin 1 the o field. It ome a4 mark becoming congested ¢ at inicipal loans had following ch other so rapidly dealers hardly then tivel can soned foreign wucs have held their ground well, even the Ivench Averages He The v price beiow i the middl abo coi e sist * frself tha keep co track be en- time to Ameri- 1 Ste is eniber npetitios mos ment in this that the Gerr of American | Ameri tant tield was the 1 potash loan will the non-participation nkers being due to the retary Hoover an loans to maintain the lities on which foreign i ave u monopoly. This w und of the ohjection to another loan to 1 news intimatior hroa the cofice No by the the this which was | i | stor | -1924- High. Low. 1034 100% 98 11 109 91 994 1044 104% 1041 | 100 108 4T 96% 1015 101% 9974 2976 105 201 In | 1175 107 1101 o7y 106% 1023, o8, 10215 995, 1033 87 293, 101% o1%, 100 {12 201 10134 107% n,u,, 100 el vmone o 975 the | 10715 99 45 1074 106 9RY one would want | 101 less it was a r».«m: | ST 106% n!\le\l\l‘t‘\\]of,;‘ 94 £5% 100 vl »9 90% Bl 1034 €6 844 even the | 117 of | 82% 897 967 91 108% 48 102% all | 1063 91% 85% 103% High 978 108% 97% 101% 881y 110% 108% RO 163 104% 1087 108% 110 110% Gl 100 1021 105 108% 1084 1017% 106 1024 803 B4 654 1073 £9% s 102% “ 109 e FOREIGN. Argentina 6s A 1957 Argentina 7s 1937 Austrian Govt 5. Austria s f 7s 1943, Belaium 6s 1965 Bulllum %8 Chile 85 19 Chile 85 1941.. Chile 85 194 Chinese Gov! Copenhagen b1 Czechoslovak Denmark 6s 1842 Dutch East Indle; Dutch East Indies 68 19 French Govt 7% s 1941, French Govt German 7s Holland-American s Japanese 45 193 Japanese 6%s 1954. Jergens Utd Margarine 68 1947. . Lyons 6s 1934. . Marselllos 68 1934, Netherlands 6s 1973 0% 101% Queensiand 7s 1941 Rio de Janeiro 8s 194 Sao Paulo, State of, Seine, Dept of. 78. 984 100 821 £4% 103 100% Sweden 65 1939. . Swiss 5l 1946.. 115% United Kingdom 5 s 192! 104 United Kingdcm 6%s 1937 INDUSTRIAL AND MISC 943 Amer Agri Chemics! 7%s 1941 95 Amer Smelt & Ref 15t 55 1847 103% Am. Smelt 1st s 1942 991 Amer Sugar Refinin 964 Amer Tel & Tel cl tr s 1 100 Amer Tel & Tel cl tr Bs 1946 99% Anaconda Copper 6s 1953 100 Anaconda Copper cv deb 7s ‘38, 85 Armour & Co 4%s 1933 97% Atlantic Refining deb 1005 Bell Tel (Pa) ref 55 1948 90 Bethlehem Steel p m ba 1936. . 934 Bethlehem Steel s £ 63 1943. . 105 Chile Copper 631932, .. 78% Cons Coal (Md) 1s ref 63 1950 941 Cuba Cane Sug cv “eb 85 1930. 106% Detroit Edison ret o5 1940. 94% Dodre 6s'41. 97% Empire Fuel & Gi 100 Goodrich (B F) 6%s 1947 * 1071s Goodyear Tire 8 1931 119 Goodyear Tire 85 1941 99% Humble Oil & Ref 5%s 1933, 101 Indlana Steel bs 1952. 82% Inter Mer Marine 63 71 Inter Paper 65 B 1947. 101t International Te! 55 rets. 90 Kelly-Springfield 83 1931 £9% Lackawanna Steel b5 1950... 87% Liggett & Myers 5a 1951 87 Manatl Sugar s f T%s 1942.. €74 Midvale Steel 65 1936. 99 New England Tel 5s 1962 112 New York Edison 1st 6% 100% N Y Gas EL H & P 53 19 95% New York Tel 4353 1939 New York Tel 65 1941. 4 North American Edison 65 195! Paclfic Gas & Elec 68 1942. Pacific Tel & Tel 6s 1952, Philadelphia Co ref 6a 1944, Public Service 65 1944. Sinclair Ol 7s 1937 Skelly 6%s 1927.. South Porto Rico Sugar 78 1941. Union Bag & Paper 68 D United Drug 6s 1944 U S Rubber 1st & ret 53 1947 U 8 Rubber 7148 1930. U SSteel nfbs1953. Utah Power & Light 68 1344, Va-Carolina Chem s f 75 1947 Western Unlon Tel 6% Wilson & Co 1st 6s 1941 Wilson & Co cv 7%s 1331, RAILROAD. Atchison gen 45199, ... Atlantic Coast Line 1s s 1953 Balto & Ohio gold 451943 Balto & Ohfo cv 4148 1933 Balto & Ohlo ref 5 1995. .. Balto & Ohlo 6s 1929 B&OPIttsLE& W Va 48 B & O Southwestern DIv 5 ofs 60- Brooklyn-Manhatsf €53 A 1 Canadian Northern 6%s 1946 Canadian Pacific deb 48 Central Pacific 45 1949 % Chesapcake & ORio cv d%s 193 Chesapeake & Ohlo gn 4%8 1992, Chesapeake & Ohlo cv 58 1946. Chicago & Alton 3 18i Chi B & Quincy 1st ref 5s 1971, Chi & Eastern 11l gen 6a 1951 « Chi Great Western 4s 19| ChiM & St Paul cv 435 1932 4 Chi M & St Paul gen §%s 1989, Chi M & St Paul ref 4345 2014 Chi M & St Paul cv 68 2014. 7% Chi & Northwestern 6338 Chicago Rallways 58 1927 Chi R I & Pacific ref 45 1934. Chi Union Station 418 1964. Chi Unlon Station 635 1963 Chi & Western {nd con 48 1953 CCC&StLref 6sA 132 4 Cleveland Term 6%s 1972 Colorado & Southern 43%s Cuba R R 63 1952 Delaware & Hudson & Den & Rio Grande con 45 1936. D. & R. G. West Gs 1985, Detroit United 438 1932 Erle 15t con 45 1996 Erie gen lien 45 1996 Erie cv 45 A 1953.. Erie cv ¢s D 1963. ... 108% 1094 50 99 101% 104 108% 103% 99 102% 102% 854 88% 92% 100 Hi% 85 107% 79 106% 112 8% 1084 88% 91% 104% 103% 118% 106 104 8% 107% 108 97% 101% 101% 104% 91 100 1015 91, 96 108% 82% 98% 1074 96% 108 104% 110% 121 101% 1024 86% 95 107% 101-6 102-4 875 396 106-10 882 Tow. Las:. 964 96% 01% 96% 9% 86Y% 109 107% B 99'% 108% 101% 102% 108% 108% 44% 9544 1004% 1034% 102% 103% 977 101% 100% 854 83% 2% 994 844 84 107% 7 106% 110% 97% 102 874 91 104% 108% 117% 1044 103% 98K 106% 102 97% 100% 100% 1044 904 99% 100% 934 454 1074 82% 98% 107% 95 102 104 110 120% 101 102 86 93% 106% 103% 9345 100 984 91% 100% 1Ty 315 1088 yT4e 106% 101% 9614 %% 10814 8945 04 122 105% 103% 102 7% 99% 86 109 107% 85 101 108% 101% 102% 108% 108% 44 29 100% 1034 103% 103% 99 102 101% R54% B8% 92% 9% 84% 85 107% 78% 105% 110% 975 102 88 914 104% 103% 18% 104% 103% 98% 106% 102% 97% 100% 101% 104% 90% 100 100% 9314 95% STAR, | issue { company’s WASHINGTON, RAILROAD STOCKS FEATURE MARKET Merger Talk Cause of Gains in Many Issues—Motors Are Also in Favor. By the Associated Prees. NEW YORK, December 5.—Railroad shares assumed the leadership of the upward movement in the stock market today. With buying stimulated by re- ports of pending merger developments and the maintenance of earnings and freight traffic at unusually high levels, the average price of twenty repre sentative carrier stocks listed on the New York Stock Exchange was car- ried to the highest figure of the year. ‘Week end profit-taking swept over the industrial list, but sales were fairly well absorbed and price concessions were confined to narrow limits. The irregularity in this section of the mar- ket was more than offset by the sus- tained strength of the rails. Renewed activity in Southern and Southwestern rail issues was attrib- uted to reports that merger proposals would be hastened by a desire to com- plete voluntary consolidations in ad- vance of new legislation of carrier groupings. Buying in Two Groups. Buying converged on two outstand ing groups, the so-called Walters roads in the Southeast and the Loree lines in the Southwest. Atlantic Coast Line, Louisville and Nashville and Nashville, Chattanooga and St. Louis which are apparently scheduled for combination into a single system, reached the highest level of the year on gains of one to nine points. kx- pectations of early developments in the Loree merger also enlivened bid ding for Kansas City Southern, St Louis Southwestern and Missouri- With New Y sntral and South- orn Railwgy directors scheduled to meet next week for dividend action, speculative interest in these issues was revived on reports of “favorable development: Other high gr: vestment stocks, such as Atc and Union Pacifle, also were in good demand. Motor Issues Advance. Although many industrial shares were hampered realizing sales, leading motor issues regained specu- lative favor. Chrysler soared almost 10 points on rumors that the new shares soon would be pliced on a $3 annual dividend basis. General Mo- tors, Hudson and Mack Trucks als moved up but yielded most of their sains before the close. U. S. Steel, after selling as high 1 . closed a point below this fig ure for a fractional net loss. Amerl 1 Can was hammered down almos five points and Du Pont lost points, but gains of one to points were registered by Consolid Clgar, Detroit Bdison, General Elec- tric, Fairbanks, More, New York Can. riers and Postum Cereal. A rise in sterling exchange to a new high on the current movement above $4.85 left little doubt on vorable effect of the recent ad in the London bank rate. Today's quota- tion was only fractionally below the high level reached last M Other Luropean currents were quiet, with By the Associated Press NEW YORK, Deccmber 5. Formatlon of the Pensacola Ship- building and Engineering Corporation to engage in ship construction at the port of Pensacola, on the Gulf of Mexico, was announced today. The | new enterprise has been undertaken by E. M. Elliott of Pensacola and us sociates, _including Representative | Fred S. Purnell of Attica, Ind., and| his former law partner, ' D. Lewis | Green. A modern shipbuilding plant is planned. Spever & Co. and J. Henry Schroder | Banking Corporation have concluded | negotiations with the Hamburg American Line for the purchase of | £6,500,000 out of u total authorized of $10,000,000 of its marine equipment serfal gold bonds, secured by a direct first mortgage on the entire fleet of seagoing ships now in operation, appraised at over $25,000,000. Proceeds of the loan will be used to reimburse the company for part of the cost of its seagoing fleet and te repay a short- time loan made for this purpose. Ralph Budd, president of the eat Northern Railway, in announc- ing the start of work on the $8,000,- 000 tunnel through the Cascade Mountains, in the State of Washing- ton, from Berne to Scania, said it would be 7% miles long. The tunnel will replace 17 miles of difficult track D. ¢, DECEMBER 6, STEEL ORDERS HOLD UP. | Outlook for Rest of Month Held Extra Good. NEW YORK, December 5 (P).— The inflow of orders in the steel mar- ket continued during the past week | with no signs of abating, and the out- look for December was considered fayorable, as the new husiness was evidently in excess of the deliveries. Prices displayed decided stability with firmer trend. Pig iron w firm and higher on large orders on hand, which offset rather siow new buying and increased production. The copper market was dominated | largely by developments abroad, as the future of values is expected to depend 4 good deal on the extent of export demand. Weukness in Lon- | ion on the part of despite continue domestic requir domestic ) evidences of hea ments. BONDS FORGE AHEAD IN BRIEF SESSION| Railroad Shares Strongest, Due to| Earnings Estimates—Belgian By the Associated Press NEW YORK, December forge rading, which | ured by the strength of the 1 issues. Both Investment and semi-speculative members of the car rier group shared the improvement which marked dealings in these com- pany’s stocks With railway timated ading ot at close to $140,000,000 cz continuing at the rate « more than 1,000,000 a week, and sev- cral dividend and merger develop: | ments in prospect before the end. of | the year, buying of these obligations | reached fairly proportions. | Southern Railway 61is re top price at 113, and zains 50 were re rded by wdjustment 5s, 1] upeake convertih , Frisco income H n onvertible 6s and Pactfic 4s. In the foreign made o belated tension of additional cre ization of monetary conditions ¥ nch government and municipal obligations also made good showings, while the ParisOrleans Railway 7s | allied 1%, points. i Trading in industrial bonds was featured by the decline of ahnost 6 points in Hoe & Co. 6325, The selling movement was urn ned Other spots were Lmpir 58 and Ameri nd Ohio livision B response to the ex its for stabil New financing in prosp week included a 16,000 sue for the Northern W bond Stat WEEKLY BANK REPORT. NEW YORK, December 5 (P)— The actual condition of clearing house banks and trust es for tb week show exce: This is a deceease in rese 070, compared with last excess reserve totaled ve of | hen 061,440, WE FINANCE —all classes of income-producing property Large Loans a Specialty Current int. rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. MONEY 1O LOAN ON REAL ESTATE | GEO. W. LINKINS 1733 DeSales Street INSURANCE all its branches. Let us know Jour requirements. We ean werve you. THOS. E. JARRELL 1 10th St N.W. Main 3 PART 6. 1925— WE BUY—SELL === Internatl. Finance MEHLMAN & CO. 1319 F St. N.W. Money to Loan Secured by first decd of U Jmh 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. First Mortgage Brokers Clarence L. 0’'Donnell, Mgr. Mortgage Dept. h&K Main 9080 William H. Kyle Loans—Insurance Room 15, 1410 G St. N.W. Maln 6 First and Second Trust Notes Negotiated First Mortgage Notes For Sale In Denominations of $100, $250, $500, $1,000 AND UP 637 Interest Secured on D. C. Real Estate Wm. H. Saunders.Co., Inc. Established 1887 1433 K Street N.W. TP S| on us to manage your f Apartment House. | Our more than a i quarter of a cen- tury’s experi- ence will serve you. Finding ten- ants, super- vising upkeep and insurance, providing janitor service and collect- ing rents, all are in- cluded in our service. B. F. SAUL CO. 925 15th Street N.W Main 2100 FINANCIAL. Mortgage Money to Loan Real Estate. Let us finunce your vroperty. THOS. E. JARRELL Member Washington Real Estate Board. 720 10th St. N.W. Main 766. First Mortgage Notes For sale. Conmsult us if you have available funds for investment. THOS. E. JARRELL Member Washington Real Estate Board. 721 10th St. N Main 766. | !Burgldry Insurancel 1 This danger of loss by burglary is a \\ery real one. Each day's newspupers | carry reports of crimes against prop- Robbers, burglars and sneak thievex aze active in almost every com- Their cleverness d daring put the householder completely at their mere Once home is marked for entry, it is more than likely to be thor- oughly ransacked and robbed of all its valuablee, for these outlaws patiently wait j the right time to make their strike. Bolts and bars won't keep them out when you are asleep or away. WILLIAM R. ELLIS 1539 Eye St. N.W Main 2029 | R. GOLDEN DONALDSON, WE PAY MORE INTEREST ON SAVINGS ACCOUNTS Than Any Other National Bank in Washington Interest on DAILY Balances Come in and let us explain ' Commercial Nat' Bauk 1ith and G Streets Resources $17,000,000 PRESIDENZ WANTED Business and Residential Properties We are prepared to personal attention in secu tenants for all properties give ng classes of If the re your property factory—tr tion. H. L. RUST COMPANY 912 Fifteenth St. NNW. Main 6888 obtained from are not satis- Reservations Now Being Madc ior those who will have funds Our Mortgage in January. available Investment l)antm(nt would like to show why vou should gages city. Nothing Could vield 6V5% Interest. place your money in First Al on improved real estate ) e rt in this Safer, they Just telephone Main 2345 and ask for the Mortgage Investment Department and have details submitted to yvou. I 5 and 717 14th St. N.WE Main 2343 We Will Buy Real Estate Bonds Originally sold by the following and others: F. H. SMITH & CO. S. W. Straus & Co. G. L. Miller & Co. Geo. M. Forman & Co. Adair Realty & Trust Co. Greenebaum Sons Invest. Co. Columbia Mortgage Co. Amer. Bond & Mortgage Co. Commonwealth Bond Corp. Caldwell & Co. Wire or write for firm bids and offerings . submit your list for prices. Ask for booklet: “Finding a Market for Your Real Estate Eonds” M-W. BRADERMANN CO. Incorporated 60 Broadway, New York Telephone Hanover 3011 Much More Than Beauty- - If the N Matchless Performance Efficiency and long life that pay dollars- and-cents dividends in lower upkeep cost ew Franklin brought nothing more dramatic to the motoring world than its beauty of line, it would still be a real contribution. and higher resale value. And always, under all conditions, the com- Fla E C 55 74 Grand Trunk Grand Trunk 781940 Great Northern gen 6%s 1952, Great Northern gen 7s 1936 Hudson & Manhattan ref 6s 1957, Hudson & Manhattan ad) 6s 1967 4 1llinois Central 5%s 1934 % Inter Rapid Transit 68 1 plete freedom from trouble which only air-cooling can give. This double leadership—appearance and performance—makes the New Franklin a doubly fine value. . and is expected to be completed in . The annual saving in operating costs is estimated at $500,000. But back of its style leadership is a stand- ard of performance that has no counter- part today. Jouns Lanike ait o Bre tastes. to vie §s alre investment wtunity for There < left and him | quality | ty all | ivities | there for November sale bars in the Pitts unusually heavy, surpassed _their other month this ders have been far ahead of ship- ments, which, in the case of Carnegie stecl, has prevailed for five consecu- tive weeks. Universal Pipe & Radiator Co. has s0ld 45,000 shares of its common stock to bankers at $25 a share for de- livery January 4, which is in addi- tion to stock offered to shareholders at the same price, each holder of three shares having the right to sub- | scribe to one additional share. The ! bankers have an option to_buy any unsold portion of the offering to stockholders. ‘The New York Stock Exchange has ruled that transactions in Tobacco Products Corporation class “A” and| common steck shall be ex-rights on December 14. Rights were admitted to trading today on a “when issued” basis and must be settled December 29. Right to subscribe expires Jan- uary 21. Operating income of the Iilinois Bell Telephone system for the first 10 months of 1925 was $9,148,114, compared with $7.703,747 a year ago. October’s total declined to ' $1,16: 26 from $1,203,749 in October last year. of merel hurgh _distric several mills having antity for any Inceming or- Easy-riding that is perceptibly better than anything you have experienced in the past. Easy-handling and high power that com- bine with this to make possible more miles, as well as better miles, per day. per cent wher i abundance? * » such Inter & Great Nor ad) 6: | { - 4 Kan C Ft Scott & M 48 193 At the new lower prices Franklin Series 11 in- | & cludes complete equipment, even spare tire, tube, 2% City Southq i Kansas Clty Southern 35 1950. cover and lock. Only tax and freight are extra. i Kansas City Southern b 1950, Lake Shore 45 1928 Lake Shore 4s 1931 Louis & Nash unified 4s 19. s Louts & Nash st ref 5145 2003. . 4 Mil Elcc Ry & Lt 1st ref 58 °61. MStP&SSM6i4s 1931 Mo Kan & Tex 1at 45 1990. Mo Kan & Tex ad) ba 1967 Mo Kan & Tex prIn 65 A 1962, Missourl Pacific gen 48 1976 N O Tex & Mex Inc bs 1935 New York Cent deb 451934 New York Cent ref Imp 6s 2013 New York Central deb 65 1935. NYChi&StL35 New Haven deb 48 1957. NYNH&H cvdeb6s 1943, N Y Weat & Boston 4%s 1946, Norfolk & Western con 4s 19 Norfolk & Western cv 68 19: Northedn Pacific 3s 1947 Northern Pacific 4s 1997 Northern Pacific ref Imp 68 2047 Ore Short Line ref 4s 1929 Ore Short Line gtd 5s 1946 Ore-Wash 1st ref 4s 1961. Pennsylvania gen 4%s Pennsylvania gen 5s 1968 Pennsylvania 6%s 1936 Peoria & Eastern inc 48 1 Pere Marquette 1st_bs 195 Reading gen 4s 199 Reading 4348 97 Rjo Grande Western cit ¢ % RIATk & L 4%u1934. BILIM&SR&G4s1 i St L &San Fran prin 4s A 1950 St L & 8an Fran pr In 6s 196 StL& San Fran5%s B 1942. St L & San Fran ad) 68 1956, 8t L & San Fran inc 6s 1 Seaboard Alr Line ret Seaboard Alr Line adj Seaboard Alr Line con ¢s Southern Pacific cv 4s 19: Southern Pacific col 4s 1949 Southern Pacific ref 4s 1956 Southern Ry gen 48 1966. . .. Southern Ry 1st 65 1994 Southern Ry dev 63%s 19| % Third Ave adj 65 1960. . 90% Union Pacific 1st 48 19417, $8 Unfon Pacific cv 4s 1937 95 Virginian Ry 1st 65 1963. 100% Wabash 1st 651939, 94% Wabash 5% '75. 63t% Western Maryland ds 90% Western Pacific s 81% West Shore 1st 48 2361, "STATE IS IN FAVOR OF $52,000.000 DAMl Maryland Wl” Project at Conowingo After Long Study. 99%- 94% 101 App rove Power 100% 113% 964 5b% 87 63 91% | 133% 62% £6% 108% 98% 106% sal 95 104% 11 384 Y% 92% 940y 3% B% 86 734 8T% 95% 86% 81% 61k 7T #7 98% 86% 91 06% 102% 107% 58% 94 100 97% 101% 66% 934 (7t 5.~ Mary- 1 soon will he 000 Conowingo | t in the form of an issued by the public serv- fce commission. This order and the accompanying opinion are being draft- ed now by the commission Work of constructing the dam which is to be 106 feet in height, will take at least 18 months, it is esti niated. The dam will be built a the Susequenhanmi River at Cono- | W placed upon the super-powe order to be Two Baltimore and iwo Philadelphia | corporatic behind the project which by the Drexel- Stotesbury interests of Philadelphia. The p» produced will be sold in | Philadelphia | Back of the public service commis- | gion’s order will be the guarantee of Gov. Ritchie that the mammoth pow: er project, with its intricate interc porate set-up and its bi-State jurisdi tion, will be subject to adequate re; ulation under the laws of. M and that none of the rights st its citizens will be infringed. November sales of G. Co. were $1,432,180, u decrease of 9.50 per cent under the same month last year, which had five Saturdays. The 11-month total was $15,288,668 against $14,172,308 a year ago. The Consolidated Royalty Oil Co. has signed a contract with the Con- tinental Ofl Co. for the development of the Consolidated Royalty’s inter- est in the Kraemer tract in Orange County, Calif.,, about 20 miles from Los Angeles. The drilling will go to a depth of 4,500 feet, which will test all the producing sands in that area. R. Kinney Inanced is FRANKLIN FRANKLIN MOTOR CAR CO. NEW YOB.K DAIB,Y PRICES. NEW YORK, December Futt dy; receipts, 3 yackin current’ make, No. 2 Bank - clearings for the week throughout the country are compiled at $11,216,460,618 by the Commercial and Financial Chronicle, an increase of 5.80 per cent over the $10,600,992,- 689 a year ago. New York City gained 3.10 per cent. g % I An inn sign painted on the blade- HARRY W. % Salesroom—1503 Connecticut Ave. N.W. Service—1814 E St. N.’ Other Franklin Dealers in This Vicinity Culpeper—Coons Bros. Motor Co. Richmond—United Motors, Inc. Baltimore—The Franklin Motor Car Ce. BURR steadier; receipts : , extra fi Pacific Coast whites, do, firsts to bone of & Whale is one of the curi- osities of Haughton, Suffolk. 4 receipts, 38,843