Evening Star Newspaper, February 6, 1926, Page 25

FINANCIAL NING STAR, WASHINGTON, D. €., BATURDAY, FEBRUARY 6, 1926 FIN REAL ESTATE LOANS - { [ R m——— 4 PUBLIG CAUTIOUS INSTOCK MARKET Professionals Have Pushed Up Special Issues—Trade Only Moderate. Received by Private Wire BY WILLIAM F. HEFFE NEW YORK, February 6 s sult of the sudden outburst ¢ elling | in Carib Syndicate in the late tr ling | erest centered in this stock | ning of business today. So | > in fact, was the attention cted by the sudden flood of offer- | ing: which involved close to 100,000 shares, that fully two-thirds of the ! floor brokers centered around Carib POSt awaiting the opening. This re sulted in a suspension of trading. and | it was close to 10:30 before it was pos. BY STUART P. WEST. ! sible to commence trading in the issue. Special Dispatch to The Star Despite the fact that this stock W YORK, February 6.—During|had risen with little interruptic the last week the € | close 1o woint onth, it w has bee 1king new records. evident represented | vrice average has reached the high- | something profit-taking est for all time: Th however, wit any particular excitement. [lowing is an official It has been the result of the up-!stocks traded bidding of spectal stocks for spe-| Curh Market gial reasons. rather than of i big | s forward swing. The public has motjt heen rushing in to buy the way it did Jast October and ember. P'ro- fessional Wall Street has heen bic ding up one stock after another. feel- ing confident that the large interest are not in a hurry to sell The basis for 1 cperations on ths buving side is 1 und in any- Thing new in the Lusiness situatior In fact, while the volume con- sumption throughout the country is £ up. the optimistic predictior e outse e vear is no bo 1 | are-| th more i heen done NEW YORK, ¥ 2 Hut nd the New York ng realized re of thre anxious and w tracts on a T On 1 f good Drice level Quireme a scar Merger Talk an Infiuen The natural t lency of the rket is te tuate within a n: velopments in the trade situation \ui OUrse ¥ fres d in individual iions between proj irranged or n prospect the taking over ul es which six months lovked ex 1 combi hich are b wre believed this has involv properties at f would high hout inking so m 1t there is a hizh )t in many lines be is simply ale which met by rais n of the s, which condi nomies. In se about the tabor” has B Stutz Moy Sun”oil institutinz words, the old ph of idated ashion. 1 lucing rs Always Come High. » put these consolidations rehase prices have to be enough to persuade the | holders of stocks that they i the fullest possible value. that some of these mer prove altogethe earnings power. ix the exan Steel Corporati i nstituents | hat were then fancy valu It required a v time for ings to go up sufficiently to elir: the inflation. In ords throng tixed wea! Investment Market Slows Up. The investmen: market has slowed up. It < not heen due to the rise in call monev, which is regarded as! only temporary Rath: it has had in mind that in past huary has | often marked the peak of investment buying and that as the year i somethir United States Gov been selling at top prices. Corpora tion securities of the first rank ave heen ding up. vet there has been | no fresh advance. The rise in sterl £ new high has be as a possible ports from this 18 still quite a distance away from the gold wing point. It there were to zold exports jong with larze new capital issues. the invest ment outlook would be changed. It would mean permanently higher rates for money and an increasing competition between new offerings d e i But neither \f these contingencies is seen for the nt There have been r > between views ¢ ange to itad upon zold ex- But sterling Washington Stock Exchange | SALES, 000 at 1031, mors of a com- | » who hold con so far French franc has done | e circulation has | the road of in past the leg: ~S1 o0 e $5S100 at 10 It has got well fixed last June, It is going abead toward the new houndary which was_settled upon in the first week of December. The D e it Boner i ¥rench financial crisis remains acute | Mergenthaler Linotspe—p 4t even though less is heard about it in o the news of the day. Chapin Sacks K% pfd—5 at Grain and Cotton Reviewed. Departmental N1 R S grain trade has got over Bid and Asked Prices. ness about the sufficiency of =K lies. Tt has settled down to await BONDS. more definite infol ation regarding PUBLIC UTILITY. ' arplu S principal ex- porting co ies de of the United te namely, the Argentine and Australia. Also it is looking for more light upon the condi- tion of the new crops which went into the ground Autumn, and for a line upon Spring seeding prospects The cotton market is in still more of a rut. The sustaining influence here is the realization that prices did get down at one time in the latter part of last r to what was less than the cost f production. taking the average, and that they have not recovered suffi- ciently 1o allow of much of a profit But there is nothing to put prices up unless efforts to curtail new planting succeeds, or unless there is more of a picking up in the demand from the goods trade than appears at present pld.— action Co.—10 at 100 sal National Bank—10 at' > its American Tel Amy el & 1 AmCTHAR & el AT Anacostia & Potomac b Aua & bot. cuar & P st ctfs 10 70 100 1031 103 "ELLANEOUS Wirdian Park Hotel 0 STOCKS. PUBLIC UTILITY (Copyright. 1926.) COMMODITY NEWS Caniialides WIRED STAR FROM | | ¥oics ENTIRE CQUNTRY | |} PITTSBURGH, February 6.—Tin Jlate producers say the recent heavy demand for this product indicates & hanner year among the canners. It comes at a welcome time to the mills, which have been running only about 80 per cent of c , mfter several months of highe: GULFPORT, Miss., February 6.— Iive shiploads of cement, totaling 10,- 000 tons, have reached here from Bel- xium for use on the Gulf shore sea- wall. Ten more ships, carrying 20,000 tons, are expected. Power o Pow. 1 P Elec wid. 1. NATIONAL BANK National Capital.. District . Farmers & Mechanics Federal- American Ban ond ational Bank of Wash' ! TRUST COMPA Security & Trust ntal Trust nion Trust. Wash. Loan & Trust SAVINGS BA NK ngs BOSTON, Febrnary 6.—The Edison Electric Illuminating Co. has con- acted to furnish the new Statler Hotel here with 2,000 horsepower of nt when the hotel goes into com- mission. The demands of the hotel are estimated at 4,200,000 kilowatt lours a year. PORTLAND, Oreg., February There is at present the most shortage of fresh fish ever known in the Pacific Northwest. Salmon are being snapped up by both Northern nd Southern buyers. Steelheads are selling at 27 cents a pound and Spring chinook at 30 cents, wholesale, Timied States,. - Washington Mechanic: FIRE INSURANCE. American 200 Corcoran . Firemen's National Union.. TITLE Columbia_Title Real Estate Title MI D. C. Paper pfd. Federal Storage Merchants’ Trans Tran. te INSURANCE. & Storage.. & Sto. b d. 1 NEW ORLEANS, February 6.— lles of drugs in this territory are owing more than seasonal improve- ment and are the best in a long time. Lanston Monotype Security Storage.. . Washington Market. at- | ¢ | stantial NEW YORK CURB MARKET Direct to The Star Office f Oil interests are known to have n interested in Carib Syndicate or some time, and when it was e ported that the latter company had ived word that the government of Colombia bad canceled the Barco concession the stock broke spec- Alarly xpectations, however, that the would be udjusted favorably Carib Syndicateg caused a sub- . a block of 7.500 shares 17, which represented a in of 214 points over night. Weak- ne: in Carib had a sympathetic effect upon the market for American Maracaibo. The rest of the market continued move in the manner which has ‘ cterized the trading throughout the past week ma for opening 0s 01 500 3 (0 K 2005 O New 105 0 Ohio 400 S O Cal i Wi 400 Vacaum Oil. . INDEPENDENT O1L ndreds IXAm Contr Oilfids 20 Am Maracaibo York STOCKS i 101l Co on Ol Cor o Pot Oi A rd - Oil O] € S “wn"\‘ ol i Con O&R. RYan € 5 Sait ' ¢ 2K Sait 8oy 103 ¥ihezuetin Pet 5 Warner Quinlan I Wilcox Ol & G INDUSTRIALS ndgenort Mach -Am T o i City' R Laund Dairy Prod GCont Bak A tdcont Bak B ICont Bik vfd s Curt Aero M pid surant Mot Jiette n Alden Coal vear Tir & R CSA CSF pid wi Contl Rub Landover Hol €A and Co Florida Lompson imken Todd Shin G & Imp C. Tight & P s BELE Sz ah b B R LogmmamEN =352 MINING lobe C. ... ot & Jerome F= mnnm» xtens © 1] 5 & 100 Fir Though 80 Hawthormo ST, 1 Holingens - D eroma Y s g woy SeSS B E S, o0 W RS, vada, C\m Noranda Ohlo Copper. Parm Por M Li 16 Premier Gold ‘d 4S Am Gold & P. 20 Spearhead Gol 2 Highes - 22 Tone Belfion: 5 Tonouah " 5 ;l'mm ssom 2880288 B n ke a0 VR EE SR AP SRR Apex. 10 Wenden "Cop FOREIGN EXCHANGE. (Quotations {urnished by W. B. Hibbs & Co.) Nomirial Selling checks London. pound m;” T 03 Montreal. colla Paris. franc. Brussels. franc.’. Madrid, peseta. . Tienna. erown. . Budapest. crown. . Prague. crown. Warsaw. zloty Copenhagen. oo, crown ‘BANKERS AMAZED BY SIZE OF LOANS Stock Exchange Reports To- tai of $3,153,174,154 as Total Borrowings. By the Associated Pre JW YORK by New York brok stocks end of Januu ruary 6. Stock Jxehan, bonds at the §3,153.174,154, {the exchanze noucced today in making public these fizures for first time in its history. "he enormous volume owings created widi Wall street, where tive bankers ex d the range between 0,000,000 000,000 1n line with the official estimate of $2,500,00 early in Junuary. The h cial estimate on record 000,000 at the peak ket last Novewber Assuming that considerable liquida- 1 of louns took place during uary, the official figures would cate that the borrowings of brok at the height of the fall boom in th stock market_exceeded $4.000,000,000 More than the tc loans were r call or {mand tund iurnish cculation i the stoc amounted to $2.5 and the remainder, $995.21 wok the form louns, Which are devoted 1 rying bonds FOOD MERGER TALK Loans held 000, m: hest unofhi was §$2,500, of the buli mar- ti per cent ¢ resented b which | Combines Partly Due to Ef- fort to Avoid Higher Price. Business Resume. {smalzamation are those whose earn s would enta on and de d Denies M rumor of involving the ¥, lthe A | town St her e 1d ] Ohio_concey of when the manufact that his company any mersger with any is probable that the the Ohio concerr eventually auto emphatically ny W wer cast in In the increased ou district reflect bust alt duction cent of prepar put in the remarkabie conditions Jugh has fallen to about capa Auto Efficiens efficiency o b shown an improv PNt us! the case when the lays off some of it we remaining i ctively speed up, it is clain , « further cuts A. R Gla a t of the Oak land Motor . said today the outstanding of auntomoblle production at present was the policy of keeping output on an even keel a not_overstocking de ““The manufa & ge on the pulse retail sales he said, “and the market is not likely to be glutted. Denlers have no more cars allotted and shipped to them than they can handle with profit. The steel utomobile trend was thoroughly indicated in and where the level of employ: thi week was higher than since May 1923. _The tite price cuts announced by two firms have been some manufacture who feel the price of crude rubl has not suffi- clently stabilized around present levels to warrant them. However, it is likely all markets will follow the re ductions. The sit; ion of crude oil bettered materially during the week owing to reduction of stocks and the gasoline position benefited to a lesser degree. The demand for coke continued Strong, and bituminous production well maintained. throughout present pro. 50 per ows. rd forces wtely, as a'co Those The have their disputes in the 2 » instilled a slight feeling of into the con struction situation in some sections, although the volume of contracts let this week is well above that of the cor- responding period of last year. The price movement in building materials for the moment is slightly downward. Blocked Florida shipments had an ef- fect on lumber prices, but lumber pro- duction is stable. Non-ferrous metal showed proved tone, with some price better- ments in copper, tin and zinc due to improved business conditions in Bu- ope. Cuban sugar production today s 100,000 tons heavier than at this time last year. (Covyright. 1826.) SPOT COTTON CHANGES NEW ORLEANS, February 6 (#).— Spot cotton closed quiet, 4 puints up. Sales, 1,736; low middling, 17.22; mid- dling, 20.22; good middling, 21.47. celpts, 9,338; stock, 477,09 BOSTON STOCK MARKET. BOSTON, ‘ebruary 6.~—Following is a list of today’s highest, lowest and closing prices for the most active stocks dealt in her Am Tel & Tel Amoskeag .. Arizona Com Bingham Mines Gulumet & Hecla building an im- High. Tow. Close. 145% 143 Economy. Groce Edison Electric. Gilchrist .. Hood ~Rubber. Tsland Creek. Kennecott . Maine Central Mass Gas. 1“0;'!‘ 0. Walworth Winone .. GRIPS ATTENTION | | | | i fin- | ented by | FEDERAL- AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street POOLE, President EGG AND POULTRY MARKET UNSTEADY Nearby Receipts Hurt by Bad“ Roads—Wholesale Meat 1 Sales Rather Slow. FIRST MORTGAGE oD | Money at 54, Dealers today reported an unsettled | -ondition of the egg and poultry mar-|| Very Desirable Conditions the condition resulting from the | Granted miserable condition of country roads. | Tyler & Rutherford | Egg receipts have been fairly heavy | Loan Correspondent onsidering the roads, it is stated, but ‘ of poultry dropped far below | : Mutual Benefit Life Ins. Co. Newark, N. J. |I|IKL::IS been slow of Xh(*} 'l 1018 Vermont Avenue Phone Main 475 mar ket, receip! | the ave De week, most dealers state, but improved con- ditions pected is thought a change in weather con | ditions will mean a decided increase in | butter and egg receipts. | | are e next week. It A draggy condition of the meat t was reported. g f prs Iy all foodstuffs firm, | nothing being particularly cheap. | Today’s Wholesale Prices. Butter—Fanc. print tub, -lJ WE FINANCE —all class Large Loans a Spec!ahy Carrent int. rate and e Higbie & Richardson, Inc. 816 15th St. N.W. of income producing property one-pound hennery, 4044 First Mortgage Bonds Callor write for Booklet V°1 The F.H.Smith Co. ANY AMOUN o 512% 819 Fifteenth 5t FRED T. NESBIT 0 s Baang 803 it 0 INVESTMENT BLDG. Main 9392 NO LOSS TO ANY INVESTOR [Over a Quarter fof a Century's Experience You Can Benefit— by our experienced prop- c¢rty management most cconomically. Our actually value would take your serv less the to costs the you ice than time of manage property personally — because we specialize. SAUL CO. 925 15th St B. F Main 2100 NWL ultry Spring Alive chickens, irkeys, top. 44a LOANS We will gladly r(-(‘e‘i\c and give prompt attention to applications for Loans on Washington Real Estate Current rates of interest. Should you have Money to Invest can also take care you. Our experience, ex- tending over a period of Thirty-Five Years insures your otection. Percy H. Russell Co. 926 15th St. N.W. Leghorns, | keats, $01.00. Live stock—Calves, top, 14a1 heavy and medium, 13%2; light, 414 Meats—Beef, 16 2 dressed pork, heav dium, 16: light, 17; loin: ders fresh hams, hogs choice, veal me '8, shoul ¥ and Vegetable day’s market report and vegetables, compiled by ket News § ice, Bureau of tural Economnies i Apples—Supplies mode ight, market dull; ba vania and Virginia, man’s Review. on fr the M. Agricul of ; demand | Pennsvl inch Stay i, quality | 23 -inch | sty 6.00 sylvania, and Romes, Black Twigs : boxes. Washingtor large sizes extra fancy A 2ig-inct round 4.5 fum o Wine. | 5. extra fancy fan Romes Actie f Interest o B I8 15th Shreet new stock hampers, poin old stock, New Danish type bushel r ton First Mortgage Notes For Sale In Denominations of $100, $250, $500, $1,000 AND P 617 Interest Secured on D. C. Real Estato Wm. H. Saunders Co., Inc. Fxtablished 1887 1433 K Street N.W. most ' 1016101 Lettuce Market Dull 3 e: demand | i 4 4 California demand rnia sderate Iv'lul Valley type, i 3 Big Bostos quality and cond y around 1.5 Onions— Supplies light, market st 100 ]‘r wide demand | £ Supplies moderate: de. d light. market steady: Michigan, )1b. sacks Russet Rurals U. S mostly 7.00 Spinach—supplies mand moderate. market dull: T bushel baskets, Savoy type, wide » quality and condition, best stly 1.40; poor quality and condi low as 75: South Carolina, cloth- | arrels. Suvoy toype, 4.00. poderate FIRST TRUST NOTES Secured on the best of District of Columbia Northwest Home Properties et steady somie poor quality String Beans Cheaper. Tomatoes—Supplies light moderate, market steady: Cuba, ripes, wrapped, fancy count, 0; choice count, 6.00a6.50; 3-pan ‘artons, ripes, wrapped, choig@ count, mostly 3.2 Carrots—Supp! licht, market st lbaskets. 1 2 Denominations $250—$500 zht Texas, demand ady: bushel William S. Phillips 1432 K Street N.W. Phone Main 4600 String beans — Supplies light: de. mand light. market slightly w Florida, bushel hampers, g I : wax, some poor condi ; demand light, market steady: Mexico, crates, mostly 6. light: demand weaker: Cuba, Peppers — Supplies light, market slightl penper crates, fancy, 5.50. Eggplant — Supplies light; demand zht, market slightly stronger; Cuba, per crates, fancy, 5.50. Cucumbers—Supplies light; demand limited, market slightly weaker; Illi- nois, hothouse, 2-dozen carton: 0. Strawberries — Supplies light: de- mand moderate, market slightly | stronger; Florida, pony refrigerators, mostly 85 Okrasquash—No supplies on market. TODAY'S RUBBER RATES. NEW YORK, February 6 (Special). Crude rubber sold at 63 cents a| pound today. This compared with §7 last month and 34% last year. | | | { Your Blnker. Knows. | When in doubt about a @ecurity consult your banker. It is equally as much his interest as your to protect | your savings. You trust him with | your deposits—why not trust him | with your investment problema? Money “to Loan Secured by first deed of trust on real estate. Prevailing interest and commission, Joseph 1. Weller 320 Wash. 1. & Trant | Modei'n Wisdom T USED to be that when a man made an investment he called it a specu- la.uon—and rightly, for his policy was “Nothing Ventured, Nothing Gained. 6% Bonds SECURED BY First Mortgages principal and interest of which are GUARANTEED by an outstanding SURETY COMPANY May be purchased if de- sired on Morris Plan of deferred payment and 5% paid on installments THE MORRIS PLAN BANK || under Supervision ot U. 6. Treasury 1408 H Street N. W. Today modern business men place their savings in a proven in- vestment that is safe and legiti mately remunerative. 72 First- Mortgage Notes On Washington Real Estate pay an annual income of \ 6% % INVESTMENT DEPT. (SHANNON & LUCHS] 713, 715 and 717 14th St. 7 7 The New York Life Insurance Co. Offers to Make First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Maryland Suburbs for 3, 5 or 10 Year Periods. 52% ON APPROVED SECURITY Apply RANDALL H. HAGNER & COMPANY MORTGAGE LoaN GORRESPONDENT Houses Business Properties Apartments Office Buildings 1321 Connecticut Avenue Telephone Main 9700 Buy a building— realize a fair per cent of interest on your in- vestment —and be able to sell it at a profit. —this is a su Business Pr Inzestment Hedges & Middleton’ REALTORS K12 Eye St NW. Franklin9503 perty Metropolitan Life Insurance Company OF NEW YORK FIRST MORTGAGE LOANS Apply to WEAVER BROS. Realtors 809 15th Street N.W. Main 9486 Decide For Yourself SUBMIT the following facts for your consideration: First Mortgage Notes offered by Swartzell, Rheem & Hen- sey Company never represent more than 609% of the ap- praised valuation of carefully selected Washington proper- ties. Swartzell, Rheem & Hensey Company has been selling First Mortgage Notes ever since 1869 without loss to any investor. 3. The yield of the Notes offered for sale is 6145%—surely an at- tractive rate when the high factor of safety is considered. And the decision we leave with you. Mortgage Bankers 727~15.Street NW Washingon DC. 56 Years Witheut Loss to An Investor.