Evening Star Newspaper, March 6, 1926, Page 15

& further FINANCIAL, RICES ARE STEADY AT CENTER MARKET Strawberries and Eggs Drop During Week—Poultry Charges Advanced. Strawberries and eggs are the two commodities that have bec er this week. Early in the week the supplies of strawberries from Flor- fda largely the in crease heing too great for the de mand, and lower prices Prices of the popular berries ranged from 12 cents for leflovers to 60 cenis for the choicesi stock, retail pri ranging from 23 to 75 cents. evernl changes in the egg merket hronght the price of average receipts 1o 26 and 27 cents this morning. and dealers think there probably will he decrease the first of the coming week Pouliry prices, dle of the week. continue high. the £upply heing hardly enough to meet demands. Frozen stock came to the rescue, however, and enabled dealers to continue to do an average busi- ness Meat main § Today me cheap- were increased, advanced the mi fruit and ve ally unchanged. Wholesale Prices. Butter— Faney, 11 tuh, #9a50: store packed, gx Average receipis 2%a30; hennery. ry. alive—Turkevs, top, chickens, 38247, towls keats, vounz, Seadn Turkeys, A% 10a45. fowls, geese, Spring Teghorns, % 2 A old Drossed chickens an: ducks, voung. o ) Live stock nlves Aium, 10a12; thin and medinn. 13 Meats Peef dresse.d pork. heavy, Ainm. 16, light, 17: loins, 30a ders, 2243; fresh hams, 30a3? Fruit and Vegetable Review. Today's market report on fruits and compiled by the Market Burean of Agrienlty 14 me. heavy chaice, veal 142141, me °: shoul- 1" vegetahles News Serviee Supplies moderate market bar West A 21a-inch 5 air quality, .00 4.50: 23, .inch. 3.3 inch, 6.00a6.50. New Yor Jdwins, mostly 450 1 inch Rlack Twigs. 5.00 Washington. medinm to xtra faney Win 3.00 extra fancy Fieonomi Apples moderate, ginta and Staym 5.0 A £ o0 dema nd els, Vir nn moderate about ste round supplies market hampers mand moderate Florida, 11y-bushel type. mostly 275 Celery Supplies maderate, market inch crates, -6 dozen mostly 1.5024.75. maoder steady dozen, il maderate Aull: California leeherz 1vpe, 3300375 ‘nd Lettuce Market 1 Lettuee - Supplies mand light. market Imperial Valley 4 dozen, 3 Onlons light. n Michi v York No, P mar iimited New seks fow vell Yo Supplies ket dnil n, Honponnd Ne. 1 X 100 ppe and New L 8 200 dition Supplies fair ¢ pound s Ta:ho banks Spinach mand moderate Carolina cloth1 Savoy tvpe, 3.50 kets, Savoy (ype higher Caulifte mand m e outh harrels rie veneer imshel W l.2h Tew m Ore lifon ind moderate ket firm on hroceo 5 m ripes ount. run g by few hizher: repacked wrapped. faney count packed Mexien 4002450 small ripes. wrnpped Stpplies moderate: demand steady: Texas mostly demind mod Texas, bushel fair condition Carrats e, market haskets, *.00a Supplies 1i <teindy mode h arket i some demand pepper s Rupplies market steady: Cubia padh o Rupplies very moderte fancy plant stk v lizht Flovida pony ref WO per quiart COTTON SELLS LOWER IN TODAY'S MARKET Week FEnd Short Covering Helps Values at Close—Decline in Liverpool Factor. March & steady 4 Br the A NEW YORK ton market opened a decline of , months selling about net lower in the firsg in response to relatively reports i The today cot points points minutes easy Liver o beneticial Southwestern 10 1o 1 few cables and in Central sections pool rains belt Private in liquidation the de <ellinz ined cubles attributed Liverpool to hedze and ulso and com of a poor spot demand | The amount of cotton on shiphoard Aawalting clearance at the en weeR was estimated at 102000 bales, against 133,000 last year. Naw York cotton futures closed advancs of 3t 10 points High March New Orleans Quotations. NEW ORLEAY cotton market opened pathy with lower Liverpool than due. First tradex showed losses of § to 12 point A ax the Novihern market proved lower than the murket here prices ¢ off further aft eall. May traded down te 18 to 17.87 and October o 15,60, 13 points under yvesterday's Prices than became steady, owin, the map showing bad weather over the entire belt, and recovered 3 to 5 points. At the end of the first half hour the market was steady, with lit tle price movement New Orleans cotto net advance of 1t 3 in The sym cables March sy close, to futures closed at a Mareh May .. July Octobar Derambar Open 19.37: October. prevailed. | Jle prices re- | K v o L 140 de- | of the ! Received by Private Wire BY wi NEW JIAM F. HEFFERN YORK, March 6.—The curb market closed the most active week In its history with the general hody of & assuming a more normal trend Prices opened lower, but there was not the excited speculation that accompa- | nied the dealings of the first four days of the week. Stocks, which had been bought by | strong banking interests at the bot- | fom of the recent decline, for support Ing purposes, began to make their ap pearance on the market today. | resulted in losses of a point to 3 points from the closing prices of Friday. | | NEW YORK, March f.—Following | is an official list of bonds and stocks | traded in on the New York Curb Mar- | ket today | Salen in thousands. 1 Allied Pk 6a 1 Allied Pk & : 17 Am Gas & F) Re. | 58 Am Pow & Lt Ba 6 Am WOW e & AAIG & W 1SS 3 1 AU Froit &y - “4R & O0RR 8 Beaterboard Ka Bell T Can 3s 2 Beth St} 5 act 5 BONDS A ab Gt Sen B s Town Wil Pa 0 T Chibn i 11 El 8 i &R B 130w 1 Co Con B1ys wi h Pow Gx A e No Statex P @1 o 8 PN 4 Ohio 10 QU< St 5 Pan-Am Pet 4 Paramount B 1 Pure 0Il Co 19 Rand Kard B 3 3 Sehulte Re. i Stuty 1S ol TSWl & al Ounze anscont 0N § SRUh Alae Aoy Alon Blon Biln Rub A1ie Sm & R cuum Oil White Sew M 6s FOREIG Colozne Cits Dresden Danish Cons 3 a0 A | | ! KIn Mt= Bk Fin | Kine Denm'k 314+ King Neth 6= 54 B 106 5¢ Rrinn Fried I Ge 02% i Tinty 7 s B Denimic 62 |24 Prov Bue Alitie | Prov Santa Fe ! 2Prov Unn Ana i &Rhine Main. Da | & Rneineibe a3 1 Russ Gy # Ruise aa ¢ 100 10014 AN an - STANDARD OIL 100 Anslo-Am Ol 100 A0anti Lob nf )R- cne Servmsar P nr O e Imble 1) ~1s wi 1400 Himnia 0 & R 400 Tinnis P 1, 4000 tmn 0N 0t Can n Vindiana P L Vit Pet Co L n O o0 &G0 V Praivie DL S0 Santh Pean O V<0 Calit e 0 Thdisna 0 Ransas 0 Kanti it 0 Venraski 0Ny o onie e Am Cont N 3 Am Maoaiho © 11 Beieon *0) 10 Cas i 1 IS8t Ton S K00 S n e e v o NDENT 011, STOCKS 1 Pranok W '"CONFIDENCE RES' THE NEW YORK CURB MARKET Direct to The Star Office 10 Salt 5 7 Venezlielan Pet 4 Warner Quinlan 1 Wileox Ol & G INDUSTRIA 20 Am Gas & FI 1Am Elec A 1Am E vt 1 Am R e Consol Dairy i Consumers Co ntin’ Bak A B ntin Bak i Bak i Roll Mille' n Sh o Cor han Co A Vati Bakine Bakin P AGhmes R & C B Baonidoes G 2 Hapniness Hevden Chem| Hellman. R nf. Horn & Hardart d Ravon Cor Ctilities B 1 Johns-Manville Kraft Cheese Lehigh Power 5 Lehigh Val € Iehigh V€ & ) hes Owens SG. heel Box rsabi Tron stro Chain Mid Weat Tl Mid Wast 17 nr Pub Serv Puh Ohio T ont 1 States Pow 3 Northeast Pow A Par Steel Roiler s Water Po tehureh Procter & G 9 Puget S Panty Rem Noise Reo Mot Rickenhacker To A Mé Sharwin Wms Co Sinrra Pac F Sev B Cox A Snia ¥ in R South Gas & P A it P& 1 Timkan Axle Trans Lus P 20 Trambill St P Tubive A S R ovte <ol Lamp S Lamn A tmn oLt & DA &P on Mach Hi n A o Mach Ma ofd Wisan & C nowi AWie & C A w MINING STOCKS Mot o Con” Mines M Smelt Croesie TN outh Lead M Am G Kk Hughes Relmor pah Fxt Apex 10 Py 15 Pron 11 Utah 5 Wenden Con FORED IN PART AFTER WILD CRASH IN STOCKS BY STUART P. WEST. ial Dispatch to The Star YORK. Mareh 6 Auring the history. i The stock market past week has been making 1L has experienced one of the most disastrous declines that ever o any thing North-) or i The dimensions of | e no failures | of the vic- definitely estai that Is known so far i individuals who made & | 1ot of money in the Autumn rise, and | certain pools, have suffered severaly, |and that bankinz interests have had 1o come ta the rescue in order to pre vent something worse. Transactions ihave hroken all records and the av |erage fall in prices during the first | three dave of the week was as ¢x tensive ax any which has occurred in panic times, Rally Restores Confidence. followed the col far en cnrred, o decline as bad as in the historic 1901 1907, Which happens ern Pacific corner of May the October collapse of losses veached the u (thongh there w 1 the identity P mic i altho has Al 1 iy lished that certain not heen sllicis A moderate rally lupse. and has gone rextore a measure of confidence ix no fundamental weakness in situation, no inflation in business lines such as there wax six veatrs ago, o | credit strain, The trouble has simpl | been over-speculation combined with | tou sanguine x view taken at the out- | set of the vear rvegarding the general | business outlook | Trade conditions In the favornble, but there are numerous un. | certain points. One of these s the steady fall in commodity prices which Lin certain lines leaves the profit mar. [ gin unswatisfactory. Another i= that while consumption 1& heavy, it has no more than kept pace with the iner in production. Consequently the sit nation remains in the enntrol of the buvers ! main are | Nickel Plate Declslon. | Wall Street ended the week with {calmer view of the Nickel Plate deci sfon. It did not come gut the wav the bankers wanted, wnd therefore the supposition was that this might fect future vailway mergers becan L there would rot be enough enconrage {ment on the banking side. “The In( ¢ ve Commission did he project o the tation end. 1t did not say that | I particulne combination of properties was obiectionable, but it did uphold Ithe minority share owners of the Chesapeake and Ohio, who' contended | that the terms of the proposed mer ger were unfair "he stocks concerned recovered | [ sharply toward the close of the we The idea was that the new Nickel Plate svstem might he reconstructed i A manner that would meet with | official approval. But It was made | clear that the commission intendad to take A very Airm stand in this and {ather econsolldations on the auestion of what would be the proper values | market convul | keep within at which the constituent companies vould go in. The enthusiasm aver possihle mer- gers which was such a big factor in the market of the Autumn and early Winter has entirely died down. The proceedings inst the baking ¢ pantes and rinst the food ¢ have chilled sentiment gavding combinations in the indus- ivial field. The Nickel Plate verdict has done the same thing for the roads. It would be impossible, least for some time to come, construct a campatgn for v < on merger gossip was m in vogue wup months azo. The public has been hit badly nough by the tremendous Wall Sireet slump, but it has not been as hard hit as the pools and profes- stonal speculative interests. This is Wecause in the final stages of the wpward movement which started last Repiemher and culminated in Janu ary the professionals. and not siders, were doing most of the buy- ing. to higher which to two h Calm After Storm Usually. The ordinary sequel after a stock on of thiz sort, which has no reason except speculative ex- cesses, is for trading to gradually quiet down and for fluctuations to ore uormal limits, The cantile reviews empha which wax alveady fully gopreciated, (hat there hux been uo ofer-stocking by merchants and [ pufacturers the way there was (hree veurs ago. This with fuct thut commodit been rixing widely heen coming down to a ¥ low level, shows that position = strong Situation Is Healthy. sensational Wall ‘e, therefore. k end me size the point, we rather com- the not hut have parativ husine: Street epi- not invelved any fenr of o commercial depression, nor have thev raised any question of an unwise credit expansion. Bro- kers' loans have come down substan- tially and the Federal reserve ratio in the New York district has risen, quite the prary to what happened in 1918-0920, Money rates have declined and in- vestment values have heen main- tained. All these are healthy symptoms. The w The sodex wheat hased upon an that there would not of the old crop supply It sell at what is recog re cost of production vored sections. on in uneasy feeling e enough left to go around. cotton options nized ax the b in most f; *h franes r om their low of the year. then fell again on the announcement of the resignation of the French ministry. This leaves the financial crisis more acute than ever, with paper note cir- culation at a new high record, indicat ing that inflation in France is greater than at any time heretafore. 1Covorright. 1924.) (Coovright. 1926.) out-} 1 | ot | | of which EVENING RTAR, WASHI QA0 0L | MERGER REPORTED Associated and Tidewater‘ Companies Will Form New Corporation. By the Associated Press. 4 YORK, March 6.—One of the | largest consolidations in the history | the Americah ofl industry has | brought together the Associated and | Tidewater Oil companies. with total | assets of more than $240.000,000. The | two organizations will he combined under a new corporation—the Tide-, water Association Oil Co.——formation | was_engineered by Blair &/ Inc., and the Chase Securities Corvoration of New York. | In addition to nation-wide opera tions covering the Pacific coaxt. mid- | continental and Atlantic seaboard tei 1 ritories, the new company will fall| heir to an export husiness assuring it | a strong vosition in the international field. Additional acquisitions are fore- | shadowed by its charter, which grantsy the company powers to purchase the securities of other corporations. Transfer of Assets. ' A transfer of the assets of the two | participating companies to the new | concern will be accomplished either | through cash purchases by the bank. ! ers or an exchange of shares. —As | ived from stock- | holders of both companies, the t | ers announced, Indicate the full suc- < of the plan. | ymmon stockholders of the Tide. water Oil Co. will be offered 1 13 shares of com stock of the new compan for ~h share of their pres- ent_holdings. No direct offer will be made to dewater preferred shareholders, | it they will he able to convert their vecuritios Into existing common stock | of their company and make exchange | on that basis | | i surances already res nk Offer Will Be Extended. The net cash offer of $58.50 a share | by which the bankers recently a quired control of the Associated Oil |its | stock, | chart | bitumin { consult vour banker hane maturing Co.. will be extended to all other stockholders under the merger plan An alternative offer also will per mit them to receive for each present one share of the new com ny's common and one-third share of ! ® per cent cumulative preferred which is convertible hefore 1926, into 1w s of com ollowing the expiration of these offers March 20, the bhankers will make a public offering of the new ompany's securities, which they have | underwritten. Thix will include ahout 500,000 shares of common stock and an additional amount dependent upon the response of shareholders to the exchange offers CHARTER FILED TODAY. DOVER, Del., 6 ®—A was filed at the state de. | partment today for the Tidewater Associated Oil Co., a new corporation formed out of the Tidewater and | Associated Ofl Cos, i he new ecorporation to issnel 11,300,000 shares of which 1,300,600 will with a par value of £100 4 share remaining 10,000,000 shares will k without par value ation i auth ed acquire, transport, huy atherwise dizpose and nd deal in and t um of all grades, oil, | carbon, hlack asphalt | and bituminons suhstances ! of all kinds: coal, te. nitrates, | phosphates, natural gas. therman and medicinal waters, gold, silver. iron copper and all other metals and min erals and metallic subst: ax paid to the March is authorized of stock he perferred The b common st The corpo produce. <l and to account h petrol v, gas to and turn . TOCK MARK Following is st, lowest and clos ing prices for the most active stocks dealt in here BOSTON & Hich. Low. Closw 145 1 o4 American Tel Amackea Afizana com Rieelow Hartford Rincham Minse Roeton & Mame Calumel & Hecla.. ovner Range st Steamahin con_FElee. Herman Iand Crank Isle Ravie & Tel | NO LSS TO | ——Am | — , Vae Gae Mohawk [ Nat 1 Now North old T Pacifie Ouiney Wit & Co Milla Your Banker, Knows. in doubt about security ! It is equally as | your to protect | your sivings. You frust him with your deposits —why not trust him | With your investment problems? i When much his intere: 1S HERERY GIVEN THAT WITH | herainatier mantioned all con | August 1. 1925, on the gold | ed by the undersigned. dated Auzust | aid 1T nresentad at the MER. | AND TRUST (0. 15th and slon D €. Presentment | At the Potomac Savings Bink. the place of navment mentioned in sa)l coupons. The following n NOTICE he excentions 154 incl 166 101 Dated March 4 TON 1 has seen a check to the | hax seen the new | = llied a quarter of a | | | REAL ESTATE LOANS ANY AMOUNT 5*[-/1 APARTMENT HOUSES RIUSINESS PROPERTY RESIDENCE LOANS AT LOW RATES FRED T. NESBIT VESTMENT BLDG. Main 9392 Money to Loan Secured hy first deed of trust on real sstate. Frevailing interest and commission 430 Wah. 1. & Joseph 1. Weller. 0,7 *3in"s § V! WE FINANCE —all (lasses of income-producing Large Loans a Specialty rate and commission roperty Current int. Higbie & Richardson, Inc. 816 15th St. N.W. # 1st Trust Loans On Tmproved Property Reasonable Rates—Quick Action N. L. SANSBURY CO., Inc. 1418 Fre 5t. N.W. Main 5904 Money to Loan on Real Estate GEQs B LINKINS MAKING LIFE INSURANCE USEFUL _is a special function of this Company. Our trust officer will be pleased to have you confer with him. The Washington Loan and Trust Company 9th & F 17th & G Sts. ~ Prompt Action |First Mortgage First Mortgage Bonds Callor write for Booklet ¥° The F.H.Smith Co. ANY INVESTOR IN 53 VFARS Ask Your Banker About INSURANCE TRUSTS N. E. ELLSWORTH, Gen. Agt. Aetna Life Insurance Co. | WOODWARD BUILDING FIRST MORTGAGES\ Money at 5% Very Desirable Conditions Granted Tyler & Rutherford Loan Correspondent .Mutual Benefit Life Ins. Co.. Newark, N. J. 1018 Vermont Ave. Phone Main 475 Thomas J. Fisher & Company, | 738 15th Street LOANS We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of inter- est. Should you have Money to Invest —we can also take care of you. Our experience, ex- tending over a period of Thirty-Five Years —insures your protection. Percy H. Russell Co. 926 15th St. N.W. STATEM KEYSTONE INDEMNITY EXCHANGE OF PHILADELPHIA, PENNSYLVANTA on the 31st day of Decamher. 1925, | FEDERAL-AMERICAN NATIONAL BANK RESOURCES, $14,000,000 1315 F Street Loans Lowest Rates of Interest and Commission nc. auired yinder the Distriet of Columbia Cods. amended June 30,1802, and August 18, 19 JOHN POOLE, President Canital stock e Canital stock. paid up. aceivahle 7 Premiums “uncolleeted hands of agents. B crest due and accrued. | other ascet wectal adin settling claime - retirnahia MANAGER FOR LOAN DEPARTMENT Man with execntive capable of and constar, ness of Propaid reinsurance Tota] assets LIABILITIES mpaid clai i o as rea T ance preminme. . ult rents. expenses, Re wodneiy properly handlin Iy inereasing our Loan Depart We offe decided ensa taxes, okeraze. pic ning unpaid Surpius husi ment v liabiliti opr cor stal liabilities. Al age and Public Liability on’ Au garded CAFRITZ 14th and K. M. 9080 inquiries ssumed dur 5 $5.750.4 181,765 _received during the year R04.12 aded during the vear 87 860 R.A CHASE JOHN COSTELLO, ribed and sworn of Fehruars, 1976 HUGH LOGAN. Notars Punl Commission Expires Mareh 8, 19 Presidant Secretary 11 1o a6 hefore me this Over a Quarter of a Century'« Experionce Enjoy the Full Profit from your rental prop- erty by having experi- enced specialists assume all leasing, upkeep and collection responsibility A thoroughly practical working knowledge of rental conditions, and many vears experience to season our judgment, together assure your profiting satisfaction. B. F. SAUL CO. Main 2100 925 15th St. NW. A AN OPPORTUNITY A Washington Financial Institu ion now actively operating wants to get in touch with a few high-class men to sell an issue of preferred and common stock. Experience in selling investment securities desirable, but not absolutely essential. This parties Address Box 1-Z, Star Office will be a profitable connection for the selected. very Our “listings” allow the most profitable buying and selling Have vou a Business Property to sell?—or have vou cash to invest? / Hedges & Middletont REALTORS L1412. Eye St. NW. Franklin9se3 5 FINANCIAL. Two Birds With One Stone-- STROKE of luck? In the hunting world— A’ yes. But in the in- vestment world—no! Bring down the Two Birds —Safety and Profit—by in- vesting your capital through Swartzell, Rheem & Hensey Company. | Since 1869 this company has been selling First Mort- gages without loss to an in- vestor. And the present vield of our Notes is 614 % a7 per annum. 727~15. Street.NW. Washingon.DC. 56 Years Without Loss to An Investor The atisfied Investo Carefully investigates any conteni- plated investment and analyzes it for DEPENDABILITY QUALITY And LEGITIMATE RETURNS He Chooses First Mortgage Notes Because he knows how they are amply secured. and he is assured of annual income of 61:% Investment Department HANNON - &-LUCH INC—— 713, 715 and 717 14h St MAIN 2345 an The New York Life Insurance Co. Offers to Make First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Maryland FOR 3, 5 OR 10 YEAR PERIODS. SY2% ON APPROVED SECURITY Apply RANDALL H. HAGNER & COMPANY' MORTGAGE LOAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Houses Business Properties Apartments Office Buildings . \i\\“\\‘\\\“\\\\\‘\\\\\‘\\\\‘\\\\\‘\‘\\‘\\\\\\\', 09 Real Estate Bonds Recommended by a TRUST COMPANY with resources of Sixty-five Million Dollars - | Secured by First Mortgages Guaranteed by a SURETY COMPANY with resources of Forty-one Million Dollars offers of Mortgages HE Raltimore Trust Company, after 1} h investigation and recommends for &7 Real Estate Bonds several anteed First invest secured by new issues (&) The e Campany swer £16.000.000) ar by some ather title approved by The ectablished Mortgage Company Baltir Trost Company and with adequate capital, which The the United States Fidelity and Raltimore Trust Company repre : Company sents as hankers. 1. Hach issue offered hy (resonrres Ralttmore Trust Company is the direct obligation of some well ~ompany gos on singlense build such theaters and E ment e ex cluded 2. Under the investment as hotels ards established by The more Trust Company, each issue s secured by first mortgages made usually for not more t one-half the value of the property pd in no case for more than )7, the valuation being deter mined by at least two independ- ent appraisals. structures, ar 6. The Bal or e company maore Trist Compan other bank sproved by ates ity and Trustee S N N R A S NS NN \\\\\\\\\\S‘\\\\\\\\\\\\\\\\\\\fi\\\\\\\\\\\\\\\\\\\ A S S S SS SR RN : s¢ trust United the Company, jssue 3. Each mortgage is guaranteed as to principal and interest, ex- cept as to title, by the United States Fidelity and Guaranty Company (resources over $11.000,000 7. $500 and $1.000 honds of any vatlable issue or writy (1,2 3. 4¢ & and 10 yvears) are sold at par and accrued interest tn vield 6%. 8. ANl issues find of any mills in any Nrovide f State tax one vear. or the up to 4% 4. Bach Mortzage is gnaranteed as to title by the New York Title These Bonds Are Offered in Washington and Vicinity by Our Local Correspondent CHAS. D. SAGER 924 14th St. N.W Telephone Main 36 The Baltimore Trust Company The largest Trust Company in the South Atlamtic States offering complete bamking, trust and investment services T 70,000 DEPOSITORS CAPITAL & SURPLUS $7.000,000 TOTAL RESOURCES $65,000,000 ZAEAAHAAE SHTLLALLAAAT AR LAALLATL ATATAALALALL ATALLLAALALLAALALALAALARLALALALALLLLAAA LA AL ARRLA AN AR A A A S A A A A A A A A SR