Evening Star Newspaper, April 9, 1926, Page 31

FINANCIAL SUMMER SLUMP | | | | IN BUILDING SEEN Not Likely to Have Effect on Buying Power of Army / of Workmen. Bpecial Dispatch to The Star NEW TYORK, April 9—Building construction is now .proceeding at a greater rats than ever before in this | eountry. Since January 1, actual con- tracts let have been more than 150, 000,000 heavier than In the corr ing perind of 1925. the previous ner buflding vear. In addition, a large amount of bullding was carried over from_ 1925 and much still is uncom- pletad. There Is every reazen 1o Have this remarkable activite wiil con gnue through Max and June These erv facts, however, ma Iv that such heavy progr planned in later months Any honsing shortage which exista in the larger centers of population is rapidly being obliterated: This fs shewn hy .the decline in rentals for houses and apartments reported hy the Natienal Aesnciation nf Real Fstate Boards. No city of 200,000 inhahitants or more reported increases in resi dsntial rents. but no eitv in the South- | eastern section reports a marked fall- | ing off in rente. Office Rents Advancing Rut rents for h ¢ and office properties different trend In/| mAny & ons re! 2 jocated busi-| ness edifices 2 in more | money from tena Marked im- provemen’ in the office building situ- ation in Cleveland is reporied, for ex-| ample, by the largesi mortzage com- pany of that In four office build- | ings upon holds bonds the space rented increased °6.701 square| feet in the lasi few monthe, with added | revanues of $£33.000 a vear. | The movement for industrial hufld- ng has heen aided by the policy of | furning indistrial eonstrnction away | from specia’ purpe tures, Fac-| tories and other industrial buildings | beins put up along standardized , &0 that thev ara syirahle for any ene of a score of industries. With these factors in eperation. ndications ars that merchandisers will have.no need for worry as to the productive buying power supported by the building industry, which is one of the big factors of prosperity today Employment will continue t6 be heavy. The trend of wages is unmis takably upward. Many contractors anticipate still further wage advances | afesr midvear. Plasterers in Chieago have voted to demand a wage of $1.75 an hour and a fiveday week area about New York getting $16 a day a demand will be made for $20. Wreckers here have received a_ boost of 12 cents an hour. while bricklayers have been advanced to §14 a dav, a £aln of $2. Carpenters Strike in West, Y'Ro far the strike of union carpen. | ters in San Franciseo has not heen | a stry plaster In the metropolitan | are | and builders fear | Received by Private Wire BY WILLIAM F. HEFFERNAN. Special Dispateh to The Star. NEW YORK, April 0.—Prices went lower on the Curbh Exchange today in one of the smallest sessions this vear, 80 far as the trading volume was con! l'eerned. Most changes > confined to narrow limits. Despiie the favor- able money conditions. and the fur- ther reduction of $117.143.000 in brok erage loans raported for the week end ed March 31, the publie showed no disposition to come into the market on the buying side at the present level. Speculative sentiment was being in- fluenced by reports coming from busi- in centers. Estimates that the United States Steel tonnage figures. | due Saturday, would show another substantial decrease for the month of | March checked whatever impulse | there might have heen to work for I higher prices. High-priced Standard |t | xew vomk, April 3. —Following |13 an offelal list of honds and stocks ‘n 1ded in on the New York Curb Mar- | Icet today: | Sales in Py 3 Cities Service An 10 Cities Service 8e 3 Citien Service Ta A Citien Service, 73 T 33 Cines Sex P& Cons Textiles L1 Cuhan el T Goodvear T & R ‘ Grand “Trunk 1y Tniand Steel 558" Ind 01l & G fias 9615 Inan Con Gon 61331014 xm H 3 Maniaba P Manita Po 8158 A Sigx 5353333522395 2222322323 W 3 3 Rhine Wes lbhl ey s",! Sales STANDARD OIL ISSUES in shpres successful in abolishing the apen-shop ronditions which have ohtained there | for five vears. Emplovers assert that | lete than 200 of 9000 carpenters em- | ploved anit wark. This was tha fire attempt cinca 1922 hv a huilding trades union to eambat by a walkout | the sa.ralled “American plan” estab. | This present strike | v but was directed | * the npen shon hizh labor costs have | 10 check bullding. since | francing has been low, and | in material prices has acted | One statistician estimates total costs now abont 1 per cent less than in_April. 1925. But en if volume of construction were te drap off 10 some degvee the loss | weuld be compensated so far as buy- ing power was concerned by the | higher level of wages aran counterbalance CHICAGO LIVE STOCK MARKET CHICAGO. April 9 (United States Department of Agriculture).—Hogs— Regeipts. 14.000 head: early trading Iy to shippers. yard traders and steady to 15 higher averaz later hig packers \er'r\l around steady Wed nesday or "5 lower: bulk 150 to 170 PAUNA averages, ear 3 gnrted 120 to 200 pound kind, 18.50; desirahls 226 ta 30 pound Av- srages, mostly 13.00; bulk %0 to 350 pound butchsre, 11.20a12.00; packing sows, generallt 10.40a10.70: dasirahle slanehter nigs heavy weight hogs 11.60813.30 Jight, 12.90213.75; packing sows 16.85: siaughter pigs, 13.50a14.00. Cattle—Receipte, 2000 head: fairlv active trade on most killing classes: fed steers and she-stock steady to strong: only a meager supply of good and choice fed steers offersd: top heavies, 10.40; vearlings, upward to #.75: medium weight, 9.90; bulk fed maers of qualitv and condition, to mell at 8.7520.75; a_string of Wyoming hay-fed sieers, £.1538.50, nther classes wtoady bulk vealers, 85302950 Vn‘ packers. | Sheep - Recaipte, £000 head; fat active, strong; few | handy-weight, 1150: | 2.75210.00 nothing oled kinds: few sales | small lots around lamhe choice elipped strictly heavies, mosti done eari: on v of fat sheep steady. in DAIRY PRODUCTS. BALTIMORE. April 9 (Special).- Poultry—Live: young chickens, pound. 30a40; winters, 45a50: springers. 48a -58; old hens. 26a30; Leghorns, 26a27;} old roosters, 20; capons, 40a15: ducks 2736, geese. 20a27; Guinea fuwl, each, | 37a%5. pigeons, pair. 35a40. Eggs—Receipts, 973 cases: native and nearby, fresh dozen offered at 281,828%; duck eggs, 31a3dj. Rutter—Good to fancy creamery. pound, 40a13: prints, 43a45: ladles, 3 3% store-packed. 34a38; process butter, 30a40. A NEW YORK PRODUCE. Spacial Dispatch 10 The Sta NEW YORK. April Califernia asparagus totaled 21 oads, orapproximately 150,000 bunches and possibly establisiisx a record for a single days supply on the New York market. Prices held about steady. [The largest green aspragis whole- anled 3.50a5.00 per dozen 2-pound hunches. and the small, The onion market Hundre ound macks NegZ"Fork. very fine quality, graded yvellows changed hande at while ordinary sold down to 2 Egyptlan onions in sacks of about 110 pounds jobbed out at 4.00a4.25. Arrivals of barreled appies were relatively light. Grade A Rhode Is- Jand greenings brought as high as 7.00 per barrel, and as low as 2.50. Baldwins rlrlled from 2.75a4.50 and McIntoches, 7.50a9.50. The undertone of the potato market again was stronger. Track business rnr New York upstate potatoes in bule peddied at 10.25210.50 per 180 po'x and sacke, £50a9.00 for 150 Receipts of well | ash |n €. Paper Co 33284; dairy pramn.‘ car | scond s00 Anzu‘\\ Am 0il |hn Eonteon Rew 100 Penn Mex Fualll 1% 400 Prairte O & G n A4 100 Pr arrie PL 125 Refininz ' 0 Ohio of 150 &'mmm oil Sales INDEPENDENT OIL STOCKS in hupdreds, A'Am Con Oilfields 4% 41 Am Mxrsralhn ve TR oo o et R Columbia $snd. Cons Rosalties 1 Creole Synd._ . Crown Cent Pe 3ibson Ofl Corp. BT 01l ot Pa - Baiom 219D ism g PSS » o FRRESE S » » BioBms oD~ i o & -Ar,n Washingtan Gas 8s 8100 at 102. <ag 1B at0d mfoe 1 it 10d % oV ahineton Gas Light—) P 5 f.anston Monotene—10 at 82, 10 at 82 AFTER CALL. Electric 85 1953 —82.000 otomae CAbital Traction Co—10 at 108%. Money—Call Ioans, 5 and 8 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITIES American Tel. & Telea 42 American Te). & Tel, AmeTe” & Tl otf. i Anacostia & Potomac Be Ana, & Potomac Tiar. Bs. % 5 fEF Capital’ Traction R. R. City_ & Suburban s geormetony Cas 1t Be Potomar Flactric 18t As. otomac Electrie cops, B otomac_Flec. P B pow wm Wash. Alex. & Mt Tex. & Mt Wash ' Ralt. & An Washington Gas & Tashington Gas A Wash. Rwy. & Flee. i Wash Rwe. & Fiae. gon. 65, MISCELLANEODS. Mg 6 Pot. Jt. Stic. Bk 5 Seuthern Blde. fla Wash. Mkt. Cold Storage 5 ° STOCKS. PURLIC UTILITY. | American Tel, & Telr Canital Tract A e Gan.: Nertolk h otomac Potomac ¥ Il Wash, § Wi Mhingren By & Flee. btd. NATIONAL BANK. Columbian Commercial l!’“:::ne!-- & Mechanics’ Frderal-Ameriean | Linerte .. Lniomar Maironaiitan Bank of Wash TRUST COMPANY. | Nat [ ce & Fant Waanington. Security. Savines & Gom: Wiihington Mechaniés' FIRE INSURANCE. American Corcoran ires Favlonat* viadon” TITLE INSURANGE, Co hia Title.. Rodl"Eatace T MISCELLANBOUS, | fd M"h-‘ R A Maine offerings in builk Brous! er"per. 100 pounds and sacks, 9.00a9.50 per 150 pounds. New cron potatoes | from Bermuda commanded 20.00 .per harrel, containing approximately 130 e & Stor, td ye |3 anal Morz & Inc | Propiea True Sores ] Lanston Monotyne " rity Sto . P TSR Washington Stock Exchange THE EVENING STAR, WASHINGTON, D. ©, FRIDAY, APRIL 9, 1926 NEW YORK CURB MARKET Direct to The Star Office Oils, like Solar Refining and smnh! Penn, were down a point to 3 nolma In the more prominent, losses ranged from a half point to a point. Higher | prices for Humble Oll, old and new.| was probahly due to the fact that m»| rights were selling for cash today. “Umong the motors, Franklin was anl exception, and changed hands at sub. stantially higher figures when huyin‘i orders found the market bare of offer ings. Stutz gave way readily lnolh’r point on only a few transactions.| Shares of electric refrigerator com- panies recetved better support, and thix was probably due to the fact that they had heen pressed down severelv in the recent speculation on the sell- ing side. Baking company stocks eontinued to slip away easily, under further of. ferings, General Baking cl HAT get- ting down almost 4 points. 3 !‘!Mev e uni 4 New Rradtord O 2 New Eng Fuel O ¢ Land T ey RS IET F F&F S8 FIFPEE - R bt - e L P INDUSTRIALS 4 Pk B Am 105 D D | Blotmninedate By Pithnetal B w 02235 -3 —evsaawBoes 13 BDun PR 35050 B A SRR RS L 3U R R I B FESEE Eergsy FEIRIESE *5F A BN MNNWOR DINIRDE 2 tre- S et o R SR R A R RO R B e D o= B AR SR SRR AR D5 AR B i i DrananSanid o 8 P e Shoe Mesahi Iron.. - D DI D e etaUs BED oasmei G e cBoo P Midrale Co. ilier Rub o of. Mohawk Val new’ 3 S 3! P 3 Iln(rml’ Serr. Music Macter €. P A Ot B st 3000 22 T e NI bt ety DU arpwiswui P R RS D BB 3~ RS RSB Dis: -;gga-—um—na oS et o SEEE LT = Sovcaiammions SO A S | 3t DD B D o RERNT FRRERE FERE SESE DD DU > 3" NSRS as Do 13 DR 13c20a: B 1R S S B B R AN N S DSBS WBI N AP DD BN BB D e SO REFEIE FO i 5333522550 & MINING STOCKS. F ¥ orty’ Nine M 1 Hollingar ecia M =t 0 T i iate gt P Mo i D=t 60174 T I z £+ P o 303n3ERam S X 303032053 2 303 2 3 s 18 fm- d“..l. 4 A TR EA#NmGs GAIN. Continued Expansion Shown in Re- port tor February. NEW YORK. April 9 (#.—Con- tinued expansion in earnings of the American Teléphone and Telegraph Co. is reflected in the report for Feb- ruary, showing operating income of $3,553,799 against $3,014,807 in the same month Jast year. The total for the first two months of 1926 was $7.- 225,411, an increase of $1,111,377 over corresponding period of 1925, FINDS BUSINESS GOOD. NEW YORK. April 9 (#).—Edward Ver Linden, president of Peerless Motor Car Co.. said March will he the biggest month in the company's history with estimated profits of $180,- 000. He considers business in the !bf'nad quarter should be as good or bettet than in March owing to the sound condition of business every- where. Charles H. Larson and Charles A. Tucker have heen elected additional directors of the company. . . = UTAH COPPER unmws. NEW YORK, April 9 Ul tlh Cfll‘- per Cfo. earned $6.83 n 8l 13 against $5.03 a share in l"" \\fl. income rose to $11,103,504 after ex- penses, depreciation and Federal taxes, but before dépletion, from $8,185,319 the year hefore. After payment of fi :g: t‘;n in dividends surplus was nlneu Blamed to Tmper. M temper and i1l health go 4 in hand according to Dr, George M. Stratton, psychologist of the National Research Council, who has observed the history of more than 1,000 sub- jects. Men who at one time or an- | other in théir lives had a serious ill- nese appear to be abnormal and more subject to Inten: otional reac |tion at timas,-ha says, p | December, | 15.78 at the end of the first hour. PO COTTON COVERING STEADIES MARKET Reports of Bad Weather inf Belt Has Sustajning | Price Influence. By the Associated Press NEW YORK, April futures opened barely steady 18.72; July, 18. Octoher. ' 17.42; ; January, 17.04. The market opensd today at a decline of 4 10 § points, in response to over- night; selling orders and relatively easy Liverpnol cables. Initial offer. ings were comparatively light and | were soon ahsorbed, the market turn. ing steadier on covering and trade buying of near months. Additional selling of new crop| months evidently was held in check 9.—Cotton May, by forecasts for showers or occasion- | | al rains in the Southwest, and de- mand for May and July had a sus talning influence on the general s Prices recovered most of the early losses and the m within a peint or twe of closing prices, with May New Orleans Quotations. NEW ORLEA April 9 (#). " futures opened steady: May,| 18.08; July, 1 : October, 16.78; De.| cember, 16.82; January (1927), 16.79.! The market was steady with first| trades unchanged to one point down Although Liverpeol cables were low.| er than due, their effect was offset by | continued unfavorable weather in the| belt. As the Northern market opened a little dow: following Liverpool, prices here eased off a few points after the opening call, May trading at 18.06, July at 17.61 and October at 16.78, or 1 to 2 points under vester- day's close. Prices rallied 2 to 4 points owing o the unfavarahte weather map and at the end of the first half hour the market was steady. Noon Cotton Prices, ORLEANS, April Cotton futures, noon hids May, 18.08; July, 17.66: October, December, 15.84; Janual‘_". 16.81, NEW voRK TApri 9 futures. 1 18.76:, July 1: 33: October, cember, 17.11; January, 17.06. BUTTER IS STEADY. CHICAGO. April 9 (P —Butter. steady: receints. 8.736 tubs: creamery extras, 39%: standards. 39%: extra firsts, 3815a38%,; firsta, 37a38; seconds, 36a361,. Egge. steady; receipts, 26 sts, 281y storage packed atnra:- firsts. 30, NEW (v extras Your Banker Knows. When in doubt about a security consult vour banker. It is equally as much his interest as vours to protect your savin You trust him with your deposits—why not trust him with your investment problems? WE FINANCE «—all clasees ot income-producing property Large Loans a Specialty Currsnt int. rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. REAL ESTATE LOANS AXY AMOUNT o APARTMENT HOUSES Y /0 :T! SS_ PROPERTY ESIDENCE LOANS AT LOW RATES FRED T. NESBIT ESTMENT BLDG. M Which Type of Loan Do You Want? Building Loan or for a longer term? We can ar- range it for you promptly and satisfactorily—no mat- ter whether the real estate is in Wachington, Marvland or Virginia—and to any amonnt, Take it up with our Mr. Kelley. | MCKEEV ERMGOSS 1415 K St. Main 4752 Secured by first deed of trust on Real Estate in the Nation’s Current Rates Prompt Reply 713, 715 and 717 14th Street Main 2345 COLUMBIA' PERMANENT BUILDING ASSOCIATION PAYS 5% Assets Over $700,000 733 12th Street N.W. Melvin C. Hasen, Precident FIRST MORTGAGES ||, Money at 54 % Very Desirable Conditions Granted Tyler & Rutherford Loan Correspondent Mutual Benefit Life Ins. Co. Newark, N. J. 1018 Vermont Ave. Phone Main 475 INVESTMENT BUY OUR FIRST TRUST NOTES 924 -14* St. NW. _MAIN 36, First _ Mortgage Notes 6'2% Secured on the Choicest of District of Columbia Residential Properties You have only to see these properties to know that no other guaranty is necessary for the protec- tion of our investors. | William . Phillips & Co. INCORPORATED 1432 K St. NW. Collateral Thrift Trust Notes of the International Bank Are Issued in Any Amount and Pay 4% on Demand 5% Six to TwelveMonths 6% One Year or More These certificates are fully secured by securities deposited with a trustee to insure pay ment when they become due. In addition they are guaranteed y the entire resources of this When necessarv, these notes ecan he redeemed at any time without loss of interest. International Bank Resources Over $3,000,000.00 807 15th St. N.W. Main 864 with 200% security Consider the ample margin of safety afforded by $2 worth of choice Washington real estate as se- curity for every $1 you invest in First meommented 3s Mortgage Notes offered through this “%.”2 " yemre " office! Un A dguers (o= Founded 1807 1433 K Street Phone Main 1016 Tasued In Convenient Amaunte ot £100 and Up Equitable Co-operative Building Ass'n JOY EDSON, President FR.‘\\K P. REESIDE, Secretary JOHN Organized 1873 fth YEAR COMPLETE] Assets .. .$5,031,811.96 Surplus .....$1,35%,149.93 Subscriptions for the 90th Issue of Stock Being Received SAVE wiih the EQUITABLE Systematically Make up your mind to save system- atically through the Equitable and stick « to it. Our plan has met with the hearty approval of thousands of Washing- tonians, because it helps them get ahead more quickly. Join today. 915 F Street 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 5Y2% ON APPROVED SECURITY Apply RANDALL H. HAGNER & COMP. MORTGAGE LoAN GORRESPONDENT : 1321 Connecticut Avenue Telephone Main 9700 Apartments Office Budldings Houses Business Properties Unusual Requirements HE test of our service to the Investor lies in our ability to place capital in an investment that is of unques- tionable character and one on which there is a guaranteed an- nual return. We take pride in the fact that for 20 years no in. vestor of ours has ever lost a penny through ownership of onr First Mortgage Notes Secured by Real Estate in The Nation’s Capital Annual Return 6Y2 % Mortgage Investment Department Floyd E. Davis, Treasurer Clarence L. Gessford, Secretary Stocks Bonds 0dd Lots Carried on Margin Buck & Company —BROKERS— Fatablished 1916 312 Evans Building 1420 N. Y. Ave. N.W. Tel. Frankiin 7300 Direet Private Wires to New York Second Trust Notes l’nldnmll Eunds immeditely avuisble for second | I OANS on and 1108 Jth rrasy Wgpune & Comogns nre We will gladly receive Loans on Washington Real Estate Money to Invest ~—we can also take care of Thirty-Five Years -insures your protection. FINANCIAL. trust notes nearby ‘11_\hml\ :mmmv See Ilr w-.i Local Agen| = Il and give prompt attention to applications for Current rates of inter- est. Should you have vou. Our experience, ex- tending over a period of Percy H. Russell Co. 926 15th St. N.W. Metropolitan Life Insurance Company OF NEW YORK FIRST MORTGAGE LOANS Apply to WEAVER BROS. Realtors 809 15th St. N.W. Main 9436 W. B. Moses & Sons Established 1861 F St. at Eleventh Furniture Linans Uphelstery S R . BUSINESS FURNITURE AND EQUIPMENT Either in Steel or Wood A phone call will bring a represeéntative at your convenience Main 3770 IN FULL, ON TIME, ALWAYS The semi - annual interest payments on our safe— 6v,% FIRST MORTGAGES —are made in full. on time, always. During the entire third of a century that we have served investors, no client has ever lost a dollar in either - principal or interest. A Third of a Century Without a The continuation of this rec- ord is up to us. Profiting by it is up to you. Loss F. SAUL CO. 925 15th St. N.W., To the Man Who Speculates WHEN the bottom drops out of the market. . . . When prices tumble faster than tickers can record. . . . When margin clerks work overtime pressing their calls for “more.” When you bal- ance the uncertainties of your flnlnall position on or:: hand with your family responsibilities on the other. ... “Doesn'’t the fact strike home that some of your money should be in sound, non- fluctuating investments, where your principal would be kept safely intact and produce a definite, dependable income? Smith Bonds naturally commend theraselves for such a purpose. They are free from the ups and downs of the market. Th:y are sound First Mort- gage Bonds, protected by safeguards that have re- lulted in our record of no loss to any investor in 53 years. Send your name and address on the form below for our booklet, “Fifty-three Years of Proven Safety,” and descriptions of our 7%, offerings. Read them thoroughly. Then make a sub.nntul investment ~with safety, assured income and peace of mind. | THE F. H.SMITH CoO. Founded 1873 SMITH BUILDING, Washington, D. C. Main 6464 Boston, Albany, Minneapolis, New York, Philadelphia, Pittsburgh "NO LOSS TO ANY INVESTOR IN 53 YEARS P A TR WLy U | D N TG P .