Evening Star Newspaper, February 21, 1926, Page 33

FURTHER DECLINES N CURB HARKET Industrials and Public Utili- ties Prove Weak in Sat- urday Trading. Striking Changes in Foreign Exchanges During Past Week By the Associated Press. NEW YORK, February 2| Weakness of French irancs re- flected the budget and tax diffi- culties of the Brland government. French government and munici pal liens, however, recelved good support. A sharp advance in Japanese yen, which carried them to the highest price in three Bs the ciated Prees. years, and in the Scandinavian NEW YORK, February Fur.| currencies refiected the efforts of ther recessions were recorded in a| choee Eovernments to bring their large number of industrial and pub- lic utility shares in tods short ses- sion on the Curb Exchange. participation, which small offerings. Continental shares were in supply, the “A" shares dropped 2 points to 106% and “B sold from 203 to 19%. Industrial Rayon attracted notice in view of its continued strength, with a further &ain lifting the price to 18. In the public utility division Elec- trie Investors opened off a point at and then suffered a loss of 1% ts without intervening transac- , tlons. Oil shares maintained a firm tone. Carib sold to a new high for the movement at 193% and Cities Service was higher. Standard Oll issues were mostly unchanged from recent ‘ trading rea. Declines During Week. a varying de- in a were active in the trading on the curb market during the week and a large number of stocks showed declines ranging from 1 to over 10 points on numerous movements in that period. The widest range was in some of he industrial issues, including Devoe & Raynolds “B,” which dropped from 52 to 40 and then recovered a good part of its loss. The high for this stock so far this year was 10113 (:oal stocks were exceptionally strong tor a short period, but the gains were not ntained, the market flattening out quickly. Heavy Trading in Oils. Baking shares were in continued but business dwindled away 4 in those issu b Utility issues were under pressure for & good part of the week. A feature of the market in the o0il stock was the heavy trading in . number of the lower priced issues. ansactions in half a dozen of stocks this group totaled about a half- on shares of stocks for the week, s of thousands or more chang- hands frequently early in the , when an upturn was in prog- 1 ing . POTATO MARKET SLOW. CHICAGO, tatoes—Receipts, States shipments, 62! trading slow; market weak; sucked round whites, 3.65a ssota sacked round whites, Tdaho sacked Russets. 3.8524.10. FLOUR UNCHANGED. APOLIS, Minn., February Flour unchanged: shipments, Bran, 24.00224.50, Canadlan, 16; Wisconsin 90: Minne- LIVE POULTRY STEADY. CHICAGO, February 20 (P).—Poul- alive, steady; receipts, 3 cars; 26%%; springs, 30 ; ducks, 30a32 BUTTER UNCHANGED. CHICAGO, TFebruary 20 (P).—But- unchanged; receipts, 1,920 tubs. Fegs lower; receipts 6 cases; firsts, 26; ordinary firsts, 24. There was a noticeable absence of outside resulted in a seneral fading in some quotations on Baking n | against 117,000 last year. exchanges nearer dollar parity. Cotton and wheat failed to break out of the trading area within _which they have been fluctuating for some time. Weather and consumption reports are being closely watched for in- dications of a definite price trend. COTTON BARELY STEADY. Saturday Market Sees Only Small Changes in Prices. NEW YORK, February 20 (P).— Continued evening up of near month commitments featured the cotton mar- ket today, but the demand for March was supplied at a premium of 56 to 57 points over May. After selling up to 20.32, March closed at 2 THe general market closed barely steady net 2 points higher to 3 points low The amount of cotton on shipboar: awaiting clearance at the end of the week was estimated at 129,000 bales, ican markets will be closed on Mon day. Tuesday is the first notice day in the local market. There wer rumors today that some cotton was being shipped here for delivery next month, one report being that 5,000 bales were definitely expected. NEW ORLEANS, February 20 (®). —Spot cotton closed quiet 14 points down. Sales, 606. Low middling, 16.72; midling, 19.72; good middling, Recelipts, 4,631; stock, 488,696. NEW YORK DAIRY PRODUCTS NEW YORK, February 20 (#).— Butter firm; receipts, 6,397 Eggs irregular; receipts, fresh gathered, extra firsts, 30a30%a: do., 25; fresh gathered, seconds, 292291;; storage, 22a24; undergrades, storage, 19a21; nearby hennery whites, selected extras, 44; nearby and Western hennery whites, firsts browns, extras, nery Coast whites, extras, first to extra first v e TYPEWRITER SALES UP. NEW YORK, February 20 (P).— | Business of the Remington Typewriter Co. this year is materially larger than for the corresponding period of 192 the company having entered 1926 with the largest carry-over in unfilled or- ders in its history. Many branches are said to be two months behind on deliveries, while all factories are op- erating at capacity. January sales of accounting machines were 14 per cent higher than a year ago and for 1925 were 100 per cent larger than 1924, Two Held in Murder Probe. HUNTINGTON, Ind., February 20 P).—Two_youths, claiming to be Or- ville and Roy Weeks, aged 22 and 20, of Cincinnati, are held in jail here for questioning in_connection with the murder last Thursday at Norwalk, Ohlo, of Frank McGrath, American Rallway Express detective of Cleve- land. McGrath was shot when he went to the farm of Leonard and James Lyon, to arrest them for a mail robbery. The boys held here deny all knowledge of the crime. THE YEAR 1926 TO DATE ON THE WASH- TON STOCK EXCHANGE. Furnished by W. B. Hibbs & Co. Up to and Including Sat Sales. BONDS. Open. High. 3,000—C. & P. Telephone 1st 5s. . 10015 100% su.m)n— & P. Tel. of Va. 6s. 973 99% . 81,000—Capital Traction 18t 5s. . 99 100 2 & Suburban Ry. Ist §s cee 85 86 194 orgetown Gas Lt. . 951 98 10,000—Pot. Elec. Power 1st . 100 1003 .000—Pot. Elec. Power Col L 997 1001 . Elec. Power Gen. L1071, 1074 700—Pot. Elec. Power Ref. 7s. 106 1063 29,000—Wash. Gas Light Gen'l bs 100 1001 31,600- 104 49,500 81 6.000—Wash. Ry. 108 §,500—Southern Bldg. Co. 818 102% 3,500—Wardman Park Hotel 6s 105% STOCKS. pital Traction 11 hington Gas . 741, sh. Ry. & Elec. com 230 & Elec. ptd. 913 . Power pfd. 1091, Power int. receipt: 10815 National Bank 260 53—District National Bank s 2331 317—Federal-American Natlonal B 401 c §3—Liberty National Bank 215 10— Lincoln National Bank . 300 300 10—Metropolitan National Bank . . 385 385 —Riggs National Bank ..... . 432 474 —Washington jonal Bank . . 285 310 —American Security & Trust.. 390 3 ‘ontinental Trust ..... 105 30—Merchants Bank & Trust :gg National Savings & Trust. Union Trust Federal Storage p ~Lanston Monotype Terchants Tfr. & Storage ferchants T Mergenthaler Linotype tional Mtg. and Inv. ecurity Storage ashington Marks Sacks 8% pfd. Departmental Bank 10—Northeas vings Bank “Raleigh = Hotel Storage pfd UNLISTED DEPARTMENT. urday, February 20, 1926. . 100 101 712 714 16 16 102 102 10215 Financial Highlights of Past Week Brought Out in Nutshell by Statistics| Diepateh to The Stas NEW YORK, Februa 20.— ‘\lunhs (average of 50 issues)... v Bonds (average of 40 issues) . Foreign bonds (average of 10 ssues) I'ederal reserve ratio .. ‘This week Last week. High. Low. High. Low. . 137.33 135.53 138.45 136.88 This week. Last week. 86.88 86.69 104. 104.05 This week. Last week. Year ago. .. 187 4.2 i Money rates in New This week. Last week. s = 415 t05 435 to 514 413t04% 4161047 Month of Month of Month of Jan., 1926. Dec.,1925. Jan., 1925, Cnfilled steel orders 4,882,739 5,033,364 5,037,323 pig iron production . v 106,974 104,853 108,720 Building permits: Number of e: 426 391 426 Amount $271,346,116 $330,489,044 $248,448,899 Commercial Number . 73 1,878 2,340 Liabilities $48,227,004 $36.528,160 $64.440,986 J:evenue car loadings: Weel W All commodities . = Grain and grain products . Coal and coke @ jorest products . Miscellaneous products . Ore .. . . HAVE SLULK seveescscsveecreccene k of Feb. 6,26, Previous week. Year ago. 5,263 914,904 92! 929,130 44,643 45,192 48,602 194,668 201,263 201,411 71,780 72,643 77,431 315,609 316,362 10,171 9, All Amer-§ THE SUNDAY Interest charges on new bonds is- sued by State, municipal, county and other local G¢vernment agencies in the United States since 1913 now amount to about $322,000,000 annually, or more than the average total an: nual borrowings of State and local governments during the pre-war dec- ade 1904-13, according to a study of public indebtedness made by the tional Industrial Conference Boa in connection with its report on “Cost of Government in the United States.” Simultaneosuly with the growth in taxation there has been a constantly increasing volume of public borrow- XYv| by State and local governments. New bonds issued by them in 1925 totaled $1,391,000,000, or only a little less than the record figure reached the preceding year, when the total was $1,399,000,000. The 10-year average of such public loans during the dec- ade just before the war was about $302,000,000 or $20,000,000 less than the annual interest charges on the new State and local government bonds issued since 1913. Taking into account the decr °.in purchasing power of the dollar and the increase in population since 1913, new indebted- ness incurred yearly by e and local governments, computed in dol- lars of 1913 purchasing value and per capita, during the past five years has averaged still 40 per cent higher than their total borrowings in the last year STAR, WASHINGTON, Local Government Bond Issues Increased Greatly Since 1913 before the war, according to the con- ference board’s study. The total net indebtedness of State and local governments at the end of the year 1925 is estimated at $11,- 650,000,000, as compared with $8,697, 000,000 at the end of 1922, and $3,822,- 000,000 in 1913, showing an increase in the net indebtedness of 34 per cent since 1 and of 205 per cent since 1913. Approximately one-fifth of the total of the new bonds since 1913 were is- sued by the State governments, one- enth by counties, and the remain- der by municipalities, school districts, and other local governmental agen- About 27 per cent of the total invested in highways & per cent was spent for On the basis of 1923 figu cay construction bulks largest in the expenditures of the State govern ments, and education absorbed an al- t equally large amount. The next item was the upkeep of ele- and penal institutions. Xpenditures of municipal and local budgets, the largest ex- high- w In the other penditure was for education, and the next largest amount was required to meet interest on and amortization of existing indebtedness. The next biggest ftem in local governmental finance in the same year was expendi- ture for the construction and upkeep of roads. BY HERBERT S. HOUSTON, Member of the Governing Board of the Na- tional Better Business Bureau of the As. soclated Advertising Clubs of the World. Florida rocks between the gulf and the sea, a vast treasure house of real wealth to some and a roaring market of speculation to others. And in fact it is both. The deepest im- pression I have just borne away from this intcresting State is th sound and sane business men control, and they are determined Florida shall have her just properly understood by the the country. And here are some definite facts that show that they are in earnest. The State Chamber of Commerce has effected a close working alliance with the National Better Business Bureau of the Associated Advertising Clubs of the World. By this alliance, which T personally helped to form, the chambers of commerce in Florida are to work hand-in-glov ness bureaus all over the country to stop the land shark and crook, wher- ever they try to operate. either inside three formed or outside the State. Within days after this alliance wa Ponzi wa dicted and & now await: al on an allege —for H Special: Till Feb. 28th Complete Cleaning Double Blankets 75¢ ] Single Blankets 50¢ 1120 Queen Phones: Lincoln Hurry Mother! A teaspoonful of “California Fig Syrup” now will sweeten the stomach and thoroughly clean the little bowels and in a few hours you have a well, playful_child again. Even if cross, feverish, bilious, constipated or full of cold, children love ths plsasant taste of this gentle,! Florida Setting Her With Drive on Fraudulent Methods 176 | with better busi- | the House in Order lent land scheme. Other cases are in preparation | But what is more to the point, this alert State chamber, representing the orgunized business of Florida, is es- tablishing and enforcing honest stand- ards on land advertising: it is prepar- ing a nation-wide campaign to be called “The Truth About Florida is meeting what it belleves is orgen- ized propaganda by affirmative presen- | tation of facts. Working in the closest way with the State chamber is the State Teal estate s | board, determined to make the real es- 2 tate licensing law so effective that no dishorest man can operate, the penal ty being the cancellation of his license to do Lusiness. This will help stop fraud, it is believed, at the source, while the work of the State Chamber of Commerce will help to the same end, and will also, through the alli- |ance with the National Better Busi- ness Bureau, spread a network of pro- | tection fc estors outside the State. g wulating sight to see the cience of o State aroused “lorida believes she is . o set her old house in sver and whenever it may | be needed, than any other part of the !world has ever done before since commerce began. And T think she fs Another Dollar Special MEN How long would yvou wear a white suit before dry clean- ? Your dark suit soils same way-—overcoat, too. ere’s the best offer you ever had: Men’s Suits Men’s O’Coats Dry Cleaned. Stem Cleaned and Presscd Only $1.0 THIS WEEK Regularly $1.50 to $2.00 The regular, high-grade, full- iced Garmack complete dry cleaning. Phone now or visit our offices: No. 6 Dupont Circle Phone Franklin 5232 2469 18th Street Phone Columbia 636 C&mn&d{ DRY CLEANING Co. Street N.E. 504—Lincoln 239 HARMLESS LAXATIV All Children Love Its Mother! | Give Bilious, Constipated Child “California Fig symp ”» harmless laxa It never cramps Contains no narcotics % the genuine “California Fig Syrup’ which has directions for babies and children of all ages: printed on bottle: Mother, you must say “Californin.” Refuse any imitations P D. C, FEBRUARY 21, 1926—PART 1. Layer Felt Mattress, covered in a good grade of art or stripe tick, well tufted, with roll edge. SR 1585 fortable Mat- tress. Special, Layer Felt Mattress. built layer upon_layer, covered® in an excep- tionally strong woven stripe or art tick. The tuiting used gives an equal tension on all sides, and the sides have four rows of stitching B o S0 75 fort and lasting wear. Special.. Specials at No matter what you may need for the Bedroom you will find it here, merchandise from recognized manufacturers Wl’lOSC products have won a p]ace through continuous and satisfying service—and at prices you Featuring’ Bedroom Feb ruary prices-- will agree are exceptional. Layer Felt Mattress covered in art t closely tuited roll edge Special— built not lump; covered in a good grade Mattress, layer: will et Felt layer upon of art tick. This is a mattress that will give long and satis- factory serv- $22.5O ice. Special.. $12.75 Layer Felt Mattress. covered 1a pretty floral art tick, four- row Imperial edge. Com- table, sound construction. Will prove to be a very good .00 $19.50 February price..... Cl’xarming Six-Piece Bedroom Suite Consists of Chifforobe, Dresser, Full Size Vanity Dresser, Bench, Chair and Double Bed. The Yinish is Walnut Veneer and the workmanship is unusually good. A feature of this Suite is the daintily curved head and foot boards of the bed. which are very attractive. $998-50 | Davenport Table A handsome Table finished in Mahogany ; top measures 60 inches long and has graceful rounded turnings; strong understretcher, which, in addition to strengthen- ing the construction, adds a touch of artis- try. February $16.75 price soemss..ow Simmons -Metal Bed Including Spring, and Cottom Mattress Covered With Durable Ticking Stromgly constructed of 2-inch continuous posts. The spring is a Link-fabric—a Sim- mons make, guaranteeing Sim- mons comfort. Sizes, 4 feet and 4% feet in width. Febru- ary price for $17.9 5 combination, C}ufiorobe A double-door Chifforobe of Gumwood in Walnut finish. It has a full - length compartment for clothes, a smaller compartment and five convenient drawers. It is a very practical $28.5O piece for the bedroom. Feb- ruary price .