Evening Star Newspaper, January 1, 1926, Page 25

FIN ANCIAL. HORSES AND MULES VITALTO FARMERS Figures Refute Claim Autos and Tractors Are Doing Most of Work. C. ROYLE. The quart 1s Important tation pr in this year That Prof Finds Horses Cheaper. 1 the situation GENERAL TIRE—Z COMPANY HAS EXTRA FINE YEAR anding eaeral vidends on d surplus, - cent on its the vear and shares of of 7 a rate Your Banker Knows. about a sect ker. It is equally as yours to protect him with trust him it problems? it in dout not IRONV AND VSTEEL STEADY. ). —No week in composite Brokers Wind .Up Biggest Year Ever nake Dance iated YORK prospery with an en- tration on the ich rivaled the es of the week d of the session sined in an im e dance to the music band. ' Buchannan, one of the leaders of the ‘“bull” unted the rostrum and cheers for rising n by the Gloria ought the celebra- vear on the Stock Exchange with the price of represent- d s tanding at a el and that of indus sunting to within high mark estab- Total sales for ted 450,000,000 recor and 000,000 shares high le hares of Monday ppro: aaking A with d over Rast yeas, m gra ¥ tion.” THE SKEPTIC. THE EVENING STAR, WASHINGTON, D. C., FRIDAY, JANUARY 1, 192. ARKOW INDICATE S HIS OLD MAM CAY,I'LL RUN\\ 115 OFFICE TOR vA AN RUMN T RIGHT, I'™M YoumG VA26 FINANCIAL. ‘YEBSTER. ‘Richmond’s Bank | Clearings Reveal Prosperous Year ated P Va,, Asso January 1 nd d §39.3 3 e total volume of busi- 5.105.572.18, a - closing figures for wpiled by the Rich 5 h EAT PRODUCTION AND CONSUMPTION OFF Less of Product Also Exported Dur- g 1925, Packers Say in Yearly Summary. produced, consumed duction past year would | pounds, with expo: 1,300,000,000 pound 0,000.000. s profits i approximating - latter worth e for stock e | 24. The institute the domestic trade outlook new year was favorable un- receipts next Summer and large, possibly forcing are too Fall down |SEES NEVV’ELECTRIC ERA. Westinghouse President Forecasts { Expansion in 1926. v YORK, January 1 (P)—E. M. president of the Westinghou | Electric Company, forsees marked im- market for generating and _dis- = tus, also electrical household nces. ‘Only about one-third homes are today using electrical devices to any marked extent: the electrification of rural Gistricts has hardly begun; railroads are just beginning to electrify. The present amount of undeveloped water- bower about equals the combined pacity of our existing electric power ems and there are great possibili- in the rapidly progressing pro- m of power system interconnec- tributin; ties RATE BOOST REFUSED. Railroads Serving New Orleans Lose Plea Before I. C. C. Railroads serving New Orleans and nearby points were refused per- mission by the Interstate Commerce Commission yesterday to increase rates on nitrate and soda moving to \nd Oklahoma points by per hundred pounds. Under existing rate schedules the raflroads have heen absorbing a 2% cent handling charge on the nitrates at the e but by pending sched- Ules they proposed to add this amount to the freight charge. The commis- sion held that the earnings from the sufficient to pay the han- dling charge out of them. NEW LUMBER RECORD. Production in 1925 Largest of Any Year Since 1916. set one of s 1925 records, the National Manufacturers’ Association announced here, placing the coun- try’s output for the year “slightly larger” than for any year since 1916. On the basis of weekly softwood re- ports made to it by some 350 of the larger mills, the association said, 12,428,809.2 feet were produced, against 11,828,948,847 in 1924, —_——————— FREIGHT TRAFFIC JUMPS. NEW ORLEANS, January 1 (Spe- ).—New Orleans has had nearly 1000 carloads more freight shipped in during this year than for the corre- sponding time of 1924, according to the Assoclation of Commerce. Coal showed 2 remarkable increase, as did petro- leum and copra. production Lumber 3 447000 000 DROP N VALLE OF CROPS Department of Agrioculture Finds Shrinkage Offset by Higher Live Stock. By the Associated Press A shrinkage of $447,000,000 in the gross annual value of crops in 1925 as compared with 1924 is announced by the Department of Agriculture in a review of the ggricultural situation. The report said. however, that in- creased values for live stock probably offset the crop shrinkage. Live stock values were not announced, but the £ross value of crops, on the basis of December 1 prices, was placed at $9,- 615,000,000, Drought Mars Crops. ‘The crop season w reported fairly good everywhere ept in the drought areas of the Southeastern and Southwestern States. Cotton was one of the three largest crops of record, with a December 1 value of about $1,628,000,000, while Winter wheat showed a farm value of $590,000,000, compared with $776,000,000 last year. Corn estimates were not given. The course of potato prices was cited to show the favorable effect of reducing production on returns to the farmer. “‘Potatoes, with a 7 per cent cut in acreage and a 24 per cent smaller pro- duction, but a gross crop value two and a half times that of 1924,” said the re- port, “gives an inkling of what ulti- mate curtallment on the farms might mean. Fewer Dairy Cattle. The pig crop was described as the smallest in five years. Eastern dairy cattle decreased in number, but the decline in Western range cattle was said to be less than had been generally thought, and sheep increased. The department’s index of purchas- ing power of 30 farm products was placed at 87, with 100 representing the average from 1909 to 1914. The unit exchange values of cotton, corn, hay, beef cattle and hogs were lower than the five-year average, while those of wheat, potatoes, eggs, butter and wool were higher. WOOL OUTLOOK BRIGHT. Demand for Piece Goods Is Ex- pected to Improve. BOSTON, January 1 (#).—The Com- mercial Bulletin tomorrow will say the market for wool has been very dull as a rule. A very few houses, however, report some good business, and the advent of some of the shrewd- est manufacturers in Summer street in the last week of the vear has been especially reassuring. Meanwhile the foreign markets, so far as they are open for business, show a slight in- crease in strength. The Australian sales are expected to rule firm at the resumption in Melbourne Monday. The mill sitdation shows little change as compared with a week ago, but the manufacturers appear to be very optimistic over the outlook, and the wool trade is convinced of the healthy condition of the market for plece goods. SHIP DEAL éOMPLETED. M. & M. Line Takes Over Shipping Board Vessels. Special Dispatch to The Star. BALTIMORE, January 1—Three steamers, purchased recently from the United States Shipping Board by the Merchants and Miners’ Transportation Company of Baltimore, were trans- ferred at the Baltimore customhouse. They were the Lake Getaway, 1,619 tons; Lake Glaucus, 1,665 tons, and Lake Galata, 1,667 tons, and are now at the plant of the Newport News Shipbullding Corporation being recon- ditioned for freight service. ‘Three modern passenger and freight steamers being bullt at the same yard will be ready for operation in April, May and June. CARE IN SEED URGED. ST. PAUL, January 1 (Special).— Agricultural = experts are advising farmers to make early and careful se- lection of seed corn, as the Octdber trosts damaged corn for seeding qual- ity, though the corn is exceflent for | feeding. Careful tests are advised. 21 Textile Firms In One City Pass Their Dividends By the Associated Press FALL RIVER, Mass, January 1—Twenty-one Fall River textile manufacturing corporations passed thefr dividends in 1925, it was dis- closed yesterday in a summary of Fall River cotton manufacturing stocks, covering 37 corporations with an aggregate capital of $43,- 585,000. Payments of $2,192.250 were made by 16 other corporations on capital stock invested, a net return of more than § per cent. WALL STREET BRIEFS NEW YORK, January 1 (®).—Wal! street is observing New Year day with the closing of the Stock Exchange and all other exchanges and commodities markets. As it i3 a legal holiday, the banks also are closed. The commod- ity markets are taking a three-day re. cess until Monday, but the Stock Ex- change, the Curb Market, the Consoli- dated Stock Exchange and banking institutions will resume business to- morrow. Sales of Mack Trucks, Inc., for 1925 will show an increase of 40 to 50 per cent over 1924, A. J. Brosseau, presi- dent, has informed stockholders. The outlook for 1926 indicated another year of marked expansion, he said. Sales of Mack busses in 1925 increased 250 per cent. October surplus of Atlanta Gulf and West Indies Stemship Lines and sub- sidiaries, amounting to $270,102 after depreciation, taxes and charges, brought the 10-month total to $1,952.- 879, compared with $880.498 a year ago. John G. Gredler, secretary, has been elected a vice president, and Frederick C. Dumain, a director, has succeeded the late Andrew Fletcher on the executive committee. National Financial News has ac- quired Popular Finance, both of which are published in New York City. The consolidated publications will bear the title National Finance News and Pop- ular Finance. December sales of Sears Roebusk Co. were 330,521,658, an increase of 16.6 per cent over December last year, bringing the total for 1925 to $268,342,236, against $222,174,742 in 1924, a gain of 16.3 per cent. Westinghouse Electric Internation- al Co. has received an order from the Tokio Electric Light Co., largest distributor of electricity in Japan, for four transformers for 154.000-volt transmission, costing $400,000. Benjamin Joy, a vice president of the Bankers Trust Co., who has been in the foreign department of that institution, will become assoclated with Dillon, Read & Co. on January 2. He also will become chairman of the board of the United States and forelgn securities corporation. Officials of the Southern Pacific estimate that the road's net operat- ing income for 1925 will not be far short of last year's figures. Decem- ber's earnings, it is said, will show marked improvement of net operat- ing income of $3,788,382 for Decem- ber, 1924, R. G. Dun & Co. reports 374 com- mercial failures in the United States this week, against 334 last week, 452 the preceding week and 445 2 year ago. Insolvencies in the Pacific States were larger this week than the corresponding period last year, but smaller in the East, South and West. F. J. Lisman & Co. have sold the entire issue of $4,000,000 of 7% per per cent bonds of the Brunner Tur- bine and Equipment Co. or Czecho- slovakia, offereed for public subscrip- tion at 95% and accrued interest to yield about 7.90 per cent. A proposed issue of $4,000,000 pre- ferred stock of Louisiana Oil Refin- ing Corporation, upon which stock- holders will act about January 18, is understood to be for retiring all of the company's 5% per cent serial debenture issues, originally $3,500,- 000, but which was reduced to $2,- 800,000, Wall Street hears from Detroit that banking interests there are talk- ing of a merger of automobile Wheel companies involving_Kelsey Wheel, Hayes Wheel and Wire Wheel of America. Officials of Kelsey Wheel, however, were said to have denied knowledge of any nggotiations. DIRECTORSVOTE STOCK DIVIDEND Merchants Transfer and Storage Co. to Pay 33 1-3 Pct. on Common at Once. Common stockholders of the M chants Transfer & Storage Co. enriched late yesterday by a dividend of 331-3 cent, immediately ord December 31, is applicable to 7,500 shares of com- per payable to shareholders of r The dishursement mon with par valu res of new st the capital of anization to $1,000,000. Action of the was not unexpected, 2 successtul stock ind of the concern is $10,000,000, divided into preferred and common The company pl 1 shares as its re and it shortly an initial offering red stock, a cumulative turn of 7 will b an m $500,000 000 is expected Official 1 one of the strongest John L. Newbold Ben L. Prince Buck secret. ssistant priner gen. other than F. H smas s, Alexander Britton John Eynon Heads Munsey comps in the is president vice president Day the Co. Dewart has been nar nt of the M i the Dewart Trust Wil pr succeeding Mr. am T. ! litelong fed over by 3 Walker of t one of four new directo: the trust company. the Archibald R. Watson, Richard H Titherington and Clarman T. Dixon €. H. Pope, resident vice preside and treasurer of the institution, wi continue as it active head city was FLORIDA TRADE JUMPS. New Orleans to Send Ten Weekly With Goods. Special Dispatch to The Star. NEW ORLEA port has built up ing trade with Florida ports rallroad freight embargoes, have increased from one stewmer month car; goods to ings a wee wing te e scheluled lat terials, petroleum products and auto. mobiles comprise the larger part of the shipr Money to Loan Secured by firet deed of trust on FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street JOIN POOLE, President were el stock | equiva- | named for rs being Ships START THE NEW YEAR Right by Investing in Our 612% FIRST MORTGAGE You Whis tin ment to and princi W Clarence ' Totes Nee or Phone O'Donnell, Departm 1w rite. i Mgr. t REAL ESTATE LOANS ANY AMOUNT RESIDENCE LOANS AT LOW RATES FRED T. NESBIT MENT BLDG. Main 9392 Stocks Bonds 0dd Lots Carried on Margin Buck & Company —BROKERS— Established 191 312 Evens Building 1420 N. Y. Ave. N.W. Tel. Franklin 7300 Direct Private Wires to New York FIRST MORTGAGES FOR SALE Denominations of $250, $500, $750, $1,000 and Upwards 6'2% Loans Made on Property Located in the District of Columbia 'JAMES F. SHEA 643 Louisiana Ave. N.W. | SAFE 615% and 7% First Mortgage Notes For Sale GEO. W. LINKINS 1733 De Sales St. Established 1886 Al Sailings P r this month. Lumber and other building ma- We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of interest. Should you have Money to Invest —we can also take care of vou. Our experience, ex- tending over a period of Thirty-Five Years —insures yvour protection. Percy H. Russell Co. 926 15th St. N.W. Dollars Invested in Business Properties When you invest in Busi- ness Property, have confi- dence in your firm. —a capable firm will work for your interests Hedges & Middletonhc™® REALTORS 1412 Eye St.NW. Franklin9503 .- | INC.. 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Equitable Co-operative Building Ass’n JOHN JOY EDSON, FRANK P. REESIDE, Sec Organized 18 16th YEAR COMPLET 5 Surplus S1L3: President Assets 1,814.86 Subscriptions for the 90th Issue of Stock Being Received SYSTEMATIC SAVING The surest and Join the Equitable quickest way to ac- and save with the cumulate money is “Army” of regular 3 : saving systemat- depositors. ically. Join today. 915 F St. 915 F St. Weaver Bros. Realtors announce the admittance of MARTIN R. WEST to membership in the firm as of January 1st, 1926 John L. Weaver Clarence Dodge Earl M. Mackintosh Martin R. West 809 15th Street You are entitled to a full 6Y2%— And that without the slightest risk of your principal! 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