Evening Star Newspaper, April 23, 1926, Page 31

FIN COTTON STRONGER ON WEATHER NEWS Early Selling Tendency Dis-/ counted by Rallies in Later Trading. By the Associated Press. NEW YORK, April 23.—Cotton fu- tures opened steady; May, 18.60; July, 18.10; October, 17.30; December, 16.93; January, 16.80. Unfavorable trade ad- vices from Manchester, contir ued talk of domestic mill curtailment and re tively easy Liverpool cables led to some selling in the cotton market early today. First prices were 2 to 8 points lower, hut the weather outlook was mnot al together settled, and after selling off to 18.56 for May and for October prices steadied on renewed covering with some trade and commission house huying. May advanced to 18.65 and October to 17.34 at the end of the first hour, gains of about 1 to 4 points. Reports of a firm opening tone in the stock market, attributed to the re duction in the New York Federal Re- serve rediscount rate may have been responsible for some Wall Street buy ing. but the chief factor was the fear of low temperatures in the Southwest and possibility of showers over Sun day in that section. New Orleans Quotations. NEW ORLEANS, April 23 (#).—ot ton futures opened steady: May, 17.83: July, 17.46; Octobe ; December, 16.58: January (19 0 bid. The market was steady with weather con ditlons reported favorable. First trades showed losses of 1 to 2 polnts, and prices eased off a few points addi tional after the call, with May at 17. ind July, 17 nd Octoby 3 to 4 points below yester The market soon rallied, howeve 7.86 for Mav 17.49 for July and 1 for October. Better Liverpool cables than due supported the market. Cotton Steady at Noon. P).—Cotton bids)—Steady: May, October, 1 16 as July, cember, 1 18.14 NEW ORLI Cotton _future May, 17.84; July December, 16.64; BALTIMORE TRACTION INCOME SETS RECORD| Saturation Point Believed Reached in Competition With Private Automobiles. 17.49; Octobe January, 16.60. tar. —Belief that Rpecial Dispatch to The BALTIMORI competition of the pri utomobfle | with the eet car systems has| veached \tion point astin | Baltimor indicated by a statement just issued United Railways, h controls the local trolley system. | he staten iven in nnection with the monthly report to the Public | Service Commiission, shows that the | company’s net income for March es-| tablished & record for this month. Net Income amounted to $102,917.72 i he management says, in part | “The favorable report for March is not decisive this point. as the! month April, as compared with | April of 13 i« not showing up as well. du ®e mea e to ab. normally quent bsenc of the parks and elsewhere. The stateemnt for the first three months of 1926 shows an increase net “vevenue of 31.66 being $200.659, as compa 03 in 1925 Washingt;)n Stock Exchange SALES AFTER CALL on ed with | 90y Wisbin Poromiae Elec a G at 10 Washington Ry .10 & Elec. 49—$3.000 at type—10 at &4 Wavest. "pra—40 at 8%, Washington Gas Gx 33—$500 at 104, $500 at 104 11 Toans, 5 and & per cent. and Asked Prices. BONDS. PUBLIC UTILITY merican Tel Ammer, EENR Am: el & Tel Anacostia & Pot. Ana. & Potomac Guar & ot Ve e &P Tel. of Va. 5s Capital Traction B R. b8 ity & Suburban 8s.. .. Grorgetown Gas 18t ba.. Potomac Elec. 1st be Potoma Potomar Pot Wain, Wash Wash Washing Washine : Waeh. Rwy o 45 Wash Rwy. & Elec. gen. fs.) 103 MISCELLANEOTS. ). . Paper MIk. 82 g Por, Jomt Stk. I, 1 Southern Bldk. tlas Wash, Mkt. Cold Storage 8e.. STOCKS. PUBLIC UTILITY. American Tel. & Teiga. Canial o Norfoik & W Potomac El Wash. Rwy. & Elec. pfd.. NATIONAL BANR. ‘National Capital . 280 Columbia .. - = Commercial rict . % Pitmers & Mechanics' Faderal-American . Liverts ‘ineoln ey ot Nesiropoiitan RiEER oo Second .. TR St "Bank ‘of Washington.. . TRUST COMPANY. American S y & Trust.. Lontinental ! e & Savings hington « ied s . e thston Mechanics'.. FIRE INSURANCE. 200 0, TR TITLE INSURANCE, bia Title oty e e, Rl &'Inv. Co. of Md. com MISCELLANEOUS. Paper pfd. . .... -al Storage pid.. nie Teane. & 'ran. & er Lil v 50 American Coreoran Firemen & National onles it ankton Monotype TREASURY bEBTIFICATES. ANCIAL.’ | THE EV NEW YORK CURB MARKET i{ Received by Private Wire Direct to The Star Office BY WILLIAM F. HEFFERNAN. NEW YORK, April 23.—The action of the New York Federal Reserve directors in reducing the rediscount rate from 4 to 3 to be all that public money come, There ately at the Curb noteworthy was coming which had the recent be which short were was needed to restor confidence and ass e conditions for some time to was heavy buying immedi- the opening of business on Market today, but it was that most of the demand from the short interest, beconie o in r operation: eliing_has point to 3 points his was true of Victor Machine, up to 77; Freshman which opened up more th on a block of 2,000 sha Refrigeration, which was 63, as against the Thurs o ¢ final of NEW YORK, April is an official list of bonds traded in on the New York ket today: thousands. Following nd stocks Curb Mar I 1618 & O R R 2 Beth St 11 Boston & Brun T & E 15 1) 5 1061, 1061 10 100 7 ¢ R 5y Grand Trunk 6s Hood Rubber 7 nd Oil & Gas 6138 4 Lehi Pow 6s A Cibby MeN & 178 Long Tsland_ Lt 6x 67 Manitob P 538 A 14 Mass Gas 548 States P 6154 0 S P M [ 4 Ohio_Power 2 Otis Ste 60 Pan-Am ' Pet ¢ 10 Pa Ohio F 9 ! 95 10475 1017, 101 1063 100 1085 103 § Rand Ka 106 1055 38 Serv Ele > Re R L E 63 S Rub 613 S sm & R Salesin FOREIGN BONDS thousands. 6 Antiqua Je.. 02 011y 12 Buenos Aires $755 10015 10017 6 Buenos_Air 7s 40 § herland tov Nantu Fe. Rheineibe Kh Westph R 00 Humble O1l & R 00 Humb O&R n wi 2100 Imp O _of Can n 900 Inter Pet C Ltd 1100 Ohio 011 1000 Prarie 0 & G n 150 Praine P L ) South Pe 100 Southern P $60 5 0 Cal new WS 0 oS o ROS O 135008 0 N ¥ 100 Vacuum Oil' Sales INDEPENDENT OIL STOCKS, in hundreds T'Amer. Con Oufids 4% 4% 3} Am Mard 7% 1 Creole Synd 1 Crown Cent Pote T Enelid Ol Co Giheon O Cor a1t Ol Pa 84 Kirby Pet Lago Pet 185 Lazo Oil A 1R Leonard Oil i 0 ot . Livinzston Pet.. Marland 3 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PITTSBURGH, April 23.—Demand for structural steel is increasing with the opening of the outdoor building season in the North. CLE AND.—The Eaton Axle and Spring Co. announces that April busi ness is moving along at the same high rate attained in March, when ments aggregated $1,109,081. NEW ORL! S.—Country mer- chants are buying conservatively be- cause of idleness of farm workers ow- ing to the weather. Local department stores are selling Spring and Summer goods at retail in seasonable volume. PORTLAND.—There is a_keen de. mand for mohair in the Northwest, with goat hair bringing 50 cents a pound and kid ir 60 cents. thirds of the present clip has been sold. TOPEKA.—Kansas wheat is mak ing good progress. Both oats and bar- ley are showing spotted damage from freezes and the growth is slow, but the stands generally are good. Prepa- rations for corn planting are making good progress breaker o Greenough all coal br LANGRUTH, anchester—Ship- ments of fish from ruth and Amaranthon Lake, pba, are valued at $100,000 for the seuson, the catch being above average and prices the best ever received. HAZELTON—Local shirt factories are extremely busy on orders from large Eastern department stores and face the prospect of heavy operation all Summer. More workers are be- ing added to the pay rells. ANCISCO—Liberal ship- of lambs began this week and the peak is expected April to May 10. The total movement of live lambs is expected to be only about half that of last year, which was 326,000 head. ATLANTA—The Georgia Cotton Growers' Co-operative Association is beginning the 1926 crop year by signing members for seven r’ The association estimates it market 150,000 bales ihis compared with 115,000 sells fertilizer to members at cost through a subsidiary. 84 men » per cent appeared | nd spent itself. | Talking | ship- | Two- | s | quarter | 611, and United Gas and Improve- | ment, up more than 2 points to 95% | But' the high prices attracted realiz- | ing sales and prices slipped off in the | late trading. With everything in the oil trade | outlook favorable, it was not surpris- ing that the oil stocks came in considerable attention. Both clas of Humble Oil moved forward br {and the demand for Vacuum, Praivie Oil and Gas and Standard of ‘ 1 w resulted in a much higher | price level. much has been said about the pects for the South American oil pmpanies that nothing new was | needed to account for their strensth, | once the buying movement got nnder | way in the oil 2,800 shares of | taken at the start at Almost 3 points, later. Lago Oil American Mar Petroleum were prominent. pros reaction set in rt class A, nezuelan 10 Mex 01l 1 Mex Panico > Ryan salt Wit Oil pt el et +Quintan. S %" it Tide v INDUSTRI { Alum_Co W &Ln Am Pow & I pfd Am Supern A Am Superp B 16 Continer A Contin Ba »e For R ( 2 Din i 16 10 N Glen Alden Coal: 1 Goodyear T & R es R & C R C Stk [ Intern Util 5 Intern T Val € X'¢ Tt Sou Calif 5 South Calif En South Cities Util St Rec Pan i Pub C'A ank Car o Mot int n G Imp C ni Lt & Pwn & 1 Profit Shar n ul P & Lt B vie til Share optl w S Lt & H new 1S Lt & HE pt. S Stores A n Camp Pg bf Ik Mach, . Mch pt A nw nw N Sew Forty. | Hawth Hecla Kay Mason V w_Cornelia’ . wmont Minin Nipissing 3 DAIRY PRODUCTS. BALTIMORE, April 23 (Special).— Poultry-—Live, young chickens, pound, 30a40; Winters, 45a50; Springers, 50a roosters, fowls, eac! pair, 40. Biggs—Receipts, cases; native and nearby, fresh, dozen, offered at 283 a2 Butte 5, guinea 5a50; pigeons, ~Good 3%a40; prints, 40ad2 store packed, dair process butter, 36a3 to fancy creamery, ladles, 3. prints, 30 rolls, 30a32. BAR SILVER PRICE. NEW YORK, April 23 (£).—Bar sil- ver, 637%; Mexican dollars, 483%. DIVIDENDS. Pay- i able WS 7% pl... 9 $L73 July 1 Do, 8% b, $2.00 July 1 Cent RR of N'J May 15 Citles Sve.Co... M June 1 June 1 June 1 June 1 May 15 May 15 Stock of Record. June 1 June 1 May 4 May 15 May 15 May 1 5 5 5 o June 1 May 15 o April 30 April 30 o 5 5 { Do Do. Do, pi. General Out- door Adv 4 Do. pf.. Tt Aricil €l i June "1 "May I July 1 June I July 1 June 1 June 10 ‘May 24 Po, pf::..L Reading 15t f.. Net profit of Hayes Wheel Co. for the first quarter declined to $148,987, compared with $222,035 in the same «t year. This is equal after preferred dividends to 60 cents a share, against 95 cents a share a year ago. NING STAR WASHING “GAMBLING” IN FOREIGN CREDIT FIELD ATTACKED Commerce Department Declares Road to Security Lies in Better Intelligence Files. “Gambling” in the foreign credit field by American exporters was de- laved by the Commerce Department today to be as unnecessa 1ll-advised. Extension of credit on a sweeping nd undiscriminating scale, “would be s barren of results and disastrous in effect as that of a bank in granting all of the applications for loans that are made to it.” “Credit is an ins as it is rument of trade,” the department said, “and has a value; | that value must be figured in the transaction as carefully as the freight bill. Moreover it is a privilege to be extended to those who deserve it, and not a1 izht to be demanded by all. The real road to credit security lies in the continuous enlargement and refine- ment of “our world intellizence files. The splendid development of the credit interchange idea in the United States puts into our hands a ready- made method of procedure that is at once a proven instrument of domestic progress and a model for our ap- proach to similar problems abroad.” Your Banker Knows. When in doubt about a security consult your banker. It is equally as much his interest as yours to protect your savings. You trust him with your deposits—why not trust him with your investment problems? NOTICE 18 HEREBY GIVEN THAT A meeting of the stockholders of Edmonston & Company. Incorporated, for the purpose of considering and acting upon an Increase the capital stock of said corporation Uhe office of the company. et northwest, Washington. Dix Saturday., the 20th 098, at L1 o'clock am RRY' G. KIMBALI ANDREW BETZ., rustees REAL ESTATE LOANS ANY AMOU APARTMENT HC BU RESIDENCE LOANS AT LOW RATES FRED T. NESBIT TMENT BLDG. Main 9392 WE FINANCE —al! classes of income-producing property Large Loans a Specialty Current int. rate and commission Higbie & Richardson, Inc. 816 15th St. N We are_offering_some very desirable Firat and Second Trust Notes in amounts of $250 to $10,000. Write or Phone 0’Donnell’s Mortgage Co. 1010 Vermoni Avenue Main 8673 OFFICES OF THE Lanston Monotype Machine Co. Philadelphia, April 10, 1926. The annual mecting of the stockholders of the LANSTON MONOTYPE M E COM- | PANY Wil be Mason Hotel, Corner Washin v streets. Alexandria, Va. 3 hoon. on Ureday, the Gth day the purpose of electing tors 1o serve for the ensui oting such other busi ock May, 1 Board of Iy vear and s an may. properly Josed on April 26| and will be reof 1 ock a.m, r of the Hoard of Directors JOHN A. FERGUSON. Secre [ErT—— FIRST TRUST LOANS On Real Estate Reasonable Rates and Prompt Service Construction Loans Made N. L Sambyry Co., Inc. 1418 Eye St. N.W. Main 5904 Assets Over $700,000 733 12th Street N.W. Melvin C. Hazen, President Floyd E. Davis, Treasurer Clarence 1. Gessford, Secretary First Mortgage Notes Secured on D. C. Improved Real Estate 1n every instance these loans are based on our usual con- servative valuations and we have invested our money in them. Moore & Hill, Inc. 730 17th Street N.W. Emmmt'm Safe Bonds m Safe Cities MODERN, income-produc- ing property, in such im- portant_ cities as Washington, Philadelphia and Pittsburgh— cities where economic conditions are sound—is the secufity be- hind Smith Bonds. Denominations of $1,000, $500 and $100, maturities from 2 to 10 years, a convenient Invest- ‘ment Savings Plan, and 77 in- terest, make these safe First Mortgage Bonds good bonds for anyone to buy. Fill out and mail the form below for further particulars. [ No Loss to Any Investor in 53 Years | | | Founded 1873 SMITH BUILDING 815 15th St. NW. M. 6464 Boston — Albany — New York | Philadelphia — Pittburgh inneapolls TaE F. H. SMiTH Co. | Second Trust Notes Funds immediatel a trust notes on D. property 1108 16( See Mr. Read, Local Agent. at ."Hartung & Company Street N.W Main 372 SEVENTH STREE1 At Washineton, at tho closs 0f bust R 1. aLoans and diccounts, i re e . Amount, 7. Individy . Dividends 1" Dist 1 ahove-named hank the above my knowledze Subseribed an, 21st day of April_1926 W T We Will Loan at 52% AN oth Cash in_vault aChecks b Mis Cavital stock pard in Surpl Ll Certified Demand Bills Tyler & Rutherford REPORT OF CONDITION SAVINGS BANK, drafts, sold ndorsement of this chan with ha ophane verdrafts.,’ secured, Govern BECUR- S S ment " securi United States Governmient gecu {Including premiu v 850.00 | 61.102.45 bonds, * xtoc urities. o6, 1 i1 irniture and fixtires 400.00 . IXUr 4091211} due from ma 182.266.78 due "' trom hanks, hanice Tother'"than Tuded in'item 10) . hanges' ' for hoie .. 1" Totai' ot Ytems 1o 11°and 12 $264,0¢ and arafs on banka Cineluding Fod eral " “Regerve Bani) locatmd outside of ity or'ie port in- 3.366.98 78.462.08 | | | | | ancots i vash items. | 286112 | s 8 | LIABILITIES | £100.000.00 100.000.00 Total fund ided fits s14 curr expenses pa Ttified check ntstand hier's “checks’ outs al “of "iteim deposits than bank d Ject 1o rex payable within 30 deposits sub, ates of ‘deposit’ tiie N pess than 30 dass fother than for mones Fotal of de (oth 20.512.72 £0.00 ienos than | ot 1 (payable after . or Aubject o and e ey Fific (other than' for horrowed | deposit | i 35 $85 | D bl £ | other | than rediscounts) al S 1 'of Columiia. s JOUN D "HOWARD. cashier of the | 40 solemiy swear that it 1w frue to the best of beller D. HOWARD. Cashier sworn to before me thie | SHANNON 713, 715 & 717 14th St. Current rates Should you have Money to Invest —we you. Our experience, extend- ing over a period of Thirty-Five Years —insures your protection. Percy H. Russell Co. 926 15th St. N.W. 0dd Lots Carried on Margin Buck & Company —BROKERS— Established 1916 312 Evans Building 1420 N. Y. Ave. NW. Tel. Franklin 7300 Direct Private Wires to New York Money to Loan on —desirable improved real estate located in the Nation’s Capital. LUCH Main 2345 [TOANS We will gladly receive and give prompt attention to ap- plications for Loans on Washington Real Estate of interest. can also take care of Money to Loan Secnured by first deed of trust on real estate Prevailine interest and commission, : Jou_pll 1. Weller 0™ ash. L u Worryless Investment Directors. There Trust Notes—when backed by the right is no risk in First d of realty. AB- SOLUTELY ¢ pay We've a group of notes that and the property is worth double the loan. Economic Conditions Loan Correspondent of the Mutual Benefit Life Ins. Co. 1018 Vermont Ave. W. . Moses & Sons JOHN Assets Newark, N. J M. 475 Furniture Carpets You ¢ tions budget the payments. Talk with about _it. ablished 1861 F St. at Eleventh n buy in denomina- of $100 or more—and our Mr. Kelley Li Upholstery BUSINESS FURNITURE AND EQUIPMENT Efther in Steel or Wood A phone call will bring a representative at your convenience Main 3770 Equitable Co-operative Building Ass’n JOY EDSON, President Organized 1879 ...$5,031,814.86 FRANK P. REESIDE, Secretary 46th YEAR COMPLETED Surplus $1,352,749.93 Subscriptions for the 90th Issue of Stock Being Received SAVE with 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. SHARES $2.50 PER ‘MONTH 915 F Street Invest your surplus funds in doubly secured First Mortgage Notes, rec- ommended by an organi- zation of 40 years’ stand- ing! Founded 1887 1433 K Street Every Dollar Count 612% In_amounts of $100 and up A Sers Coce Main 1016 FINANCIAL. Large Loans We have a special fund available for large loans on business properties. at Applications will be given 6170 prompt attention. T 1417 K Street—Main 9300 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 5'2% ON APPROVED SECURITY Apply RANDALL H. HAGNER & COMPANY MORTGAGE LoAN GORRESPONDENT | 1321 Connecticut Avenue Telephone Main 9700 Apartments Office Buildings Houses Business Properties “Reaching Your Goal” Take steps toward creating a financial surplus. It may seem hard at first. By budgeting your income and making “Investment” an item and regularly applying your savings on First Mortgage Notes —on Washington Real Estate Yielding Annual Income of 6% % —you will have taken the hardest step toward your goal. Saving will soon become a profitable habit Investment Department 713, 715 and 717 14th St. Main 2345 s of Trusteeship— should rest upon the shoulders of men of experience in such matters. Before taking definite steps toward the disposition of your affairs con- sult our Trust officials. 4 VICTOR B. DEYBER President ALEXANDER WOLF Trust Department Second National Bank “The Bank of Utmost Service” 509 Seventh Street N.W. 1333 G Street N.W. WHERE SAFE FUNDS MEAN LIFE For the endowment funds of large institutions—charity and welfare organizations which must have income to carry on work that may mean the sav- ing of life—First Mortgages on Real Estate are the pre- ferred security. Our A Third of a Century Without a 6% FIRST MORTGAGES —offer you the same points of preference that the institu- tional investor demands. If you are interested in produc- tive safety, let us tell you more about them. B. F. SAUL CO. Main 2100 925 15th St. N.W. Loss