Evening Star Newspaper, May 6, 1926, Page 31

FINANCIAL. SUBSTANTIALGAIN COTTON ADVANGES | SHOWNBY LANSTON ~ ON BAD WEATHER Annual Meeting of Stockhold-'More Hopeful View of B.ritish ers Held in Alexandria | Strike Also Tends to Today. Lift Price. EDWARD €. STO By the Associated Press. W YORK., May 6 wex opened steady: M | 5.30: ©ctober, 17.40; December, 17.14 January, 17.03. More favorable ad Vices from Liverpool and an unfavor- | able weather map were reflected in dvances today. The Liverpool mar- ket was better than due on covering deprecia- | and buying, which private advices at \nd that | tributed to reports of rains in Texas heen and a_more hopeful view of the labor to noth- | situation. con-| The market of | vance of 8 to 12 point soon showing net gains of 12 to 14 points on covering by recent sellers, with trade and commission hous: buving - on apprehensions of further rains In Texas and a possibility that they would spread over the eastern part of the belt before the end of the week May w October hour. BY @otton fu the 18.75; July, | Mexandria this he fiseal year 1 substantial the previous d for plants had heen set opened at an ad- | active months her vear com Divi unting vious e ).000 for the year. the policy o create reserves fo the plant has h state of h last year scrves on patents and estabished and are statement, A not s selling around 18.76 and hough a 17.44 at the end of the first ina h New Orleans Quotations. NEW ORLEANS, May "Cotton futures opened steady: 1810: July, ; October, 16.8 | cember, 16.87; January (1927), bid. The market had a firm opening with Liverpool cables proving better than due. Early weather news imed heavy ns in southwest T 1s and fir des showed gains of 9 to 14 points. Later prices eased foft 4 7 points on realizing, but No Accounts Pa; vear clo witih no bi iy obligati ch 1.1926, being imounting to this plar mpany on M > company gratifying_im- wancial condition to 7 | soon rallied, making new highs when d | the weather map confirmed the rains Is payable 10in Texas. July traded up to 17.68, the year ending { October to 16.93 and December to and following | or 16 to 20 points above yes terday's close. At the end of t | first_hour the market was active and tending upward. $1,7 67,500.00 r the work of = s and fixtures for the e new monotype arricd on, and the comme February omplete chairman of the hoard; Harvey D | Rest, president; W. Usher Parsons, | vice president: T. Frank Morgan second vice president; John A. Ferg: son, secretary: Allen R Fritz, a sistant secretary, and Joel G. Clem mmotype non-distribution system . secre 4 '\-!‘E.n newspapers and job print. | mer, treasurer. D. Best, M. C Berswhich HEwepaDEns S0 o otypes. | - Dinectors = Harvey DD, SHet, BM, - C. S O e i | Branch, IKarl W. Crosby, Arthur B e s on, Joel T. Clemmer, Haliburton than the wages formeily paid for re J. Thilman iendrick, w. }(s:‘e.l ove ibutlon of purchased | Parsons, George W. White and Roya/ : McKenna. material Heavy Trading in Market. Company “Sales of composing machines and | Trading on the Washington Stock keyboards were I e than during | Exchange today covered the broad the previous two vears, along with | est list of stocks and bonds that have an increase in sales of type and rule | been dealt in for many months. In casters and monotype material-| spite of the number of issues ap- making machines. Our business [ pearing on the board the price with the h company was|changes were very small in most #maller, due to their own manufacture | cages. of machines, but this loss has been| Peoples' Drug Stores preferred, more than overcome through in-|which suddenly became more active crensed sales to South and Central [ Tuesday, gained 2 points today when America. In these countries job |10 shares sold for 101. ~Capital Trac- printers and newspapers are introduc- | tion came out at 1031, and sold at ing modern composinzroom meth-|the same figure after call. Another eds. Our export manager has been |share of Norfolk & Washington Steam- constantly in South America during |boat Co. fold today at 285. Potomac the vear with most satisfactory re-| Electric Power preferred figured in sults. On the occasion of the Pan-|one sale at 1071, while 25 shares of Amerlcan Congress of Journalists the | Was stork went ire conference of mora than a hun-|at 681, Fourteen shares of Wash- delegs visited the monotype |ington Railway and Electric preferred for demonstration of our | brought 90. | Two shares of Natfonal Metropoli- tan Bank stock registered 401 and | stx shares of American Security and rust Co. changed hands at 386 Unfon Trust stock sold at Riggs t at the factory at Red Hill brought 450%. Firemen's Fire Insur patents were taken out durin ance Co. sold at 22 and a 25-share Vear and we mow have in progress| block of Columbia Title and Insur- hew engineering work. Sales of Bar-|ance Co. stock sold at 9. Fifty-eight caster was « hipmegt of hines was made in This new nd dist Machine Sales. | he report of the English company ghows increased sales and larger profits. Tmportant additions have been made to the buildings and plant "'UH!‘ Sales in THE EVENING STAR, WASHINGTON NEW YORK CURB MARKET Received by Private Wire BY WILLIAM F. HEFFERNAN NEW YORK, May 6.—~Had Wall Street been seriously alarmed over the possible results of the British labor crisis upon our own speculative mar- kets, it would have shown more than it had already during the past few days. The concensus of opinion was today that a strike of such magnitude could not last long enough to seriously impair home industry. The volume of business remained at a minimum, and there was no inclina- tion to come in on either side. It was noteworthy, however, that stocks like Imperial Ol of Canada, International Petroleum, Dunhill International and anadian Dry Ginger Ale had stopped going down, and were disposed to re cover part of the ground lost earlier in the week. ) far as other parts of the market were concerned, the price movement W YORK, May 6.—Following an official list of bonds and stocks t in on the New York Curb today. thousands 3 Allied Pk Ss. Am Thread ¢ Am W W s A. VI S8 By RS R R e Beaverboard R8s & Bell T Can 6 Beth Stl 78 4 Boston & Me aro Bow Cities Ser 1 Gitles § EH T ga ons G Bal 54 E 10833 ons Textiles Bx.. 83 Ciiban_ Tel 7154 e B wi 10113 rie Retrie 6n: 1045 4 Bk 100 10 o On &' Gas aige 1R TCofPhlasA 88% ong Ial Lt 68 Loews Ine s Manito Pw 518 A X Mass Gas blas hio Pow. Pan Amer Pe Bask A Bl My 6s 101 1 Penn Ohio Ed 8s, 1 Penn P&L 58 D 24 Phil E P 5 7 weheen Th 28 Southea P & L 6, 48°0 XY 63y wift & Co ba. Buenos Air 78 Buenos Aires 7 3 jer CiEL81s 26 " ;.-‘:J,- Garm 6145 an Con o ¥ feat Gon 4 MOk Fn ¥ tatian Pu Ul 7a King Denm 5 la8 rupp Frie L 7s. E c 12 Denma s llcll‘ Kheinelbe Un Rhine Westoh % Nanda Falls_Gs ‘A TSax & M In 7s 45 3 & STANDARD OIL 18 ite o AmOn 18 200 tett adding machines under the Dew shares of Lanston Monotype were sold fealer plan inaugurated in May, 13 during the session, six going at 851 steadily increased in both ms and the rest at 8514, the strength lomestic and export markets. Fur. | in the issue being due to the excellent ther tmprovements have heen made to | report expected at the annual meet- the mrohie \ reduction in[ing. After call two shares of Wash- Eoita Wb to tion of mod.|mgton Railway and Electric common S brought 180 and 10 shares of Mergan- thaler Linotype sold at 106. In the bond division Anacostia and Potomac 5% sold at 95, Potomac Elec tric first 5s recorded 100% and Capi- tal Traction 5s came out at par. There were also three sales in the unlisted department. District Title Insurance Regrets Corhy’s Death. Best his report by the cor existing the company and the en ploves, and by expressing deep Sorro: over the death of the vice president und director, les I Corby, on Feb-| Co. sold at 2113, six shares of Wash ruary 1926, The report of thelington Title Insurance Co. went at treas Joel Gi. Clemmer, was then| 9 and one share of Chapin-Sacks & Dre | per cent preferred brought 991 Bank Klects New Director. Alvin L. v, notin between regret was expressed over the | of J. Thilman Hendrick, | ¢hairman of the hoard of directors, | 10w 18 recovering from a very | the d illness e directors state| and Hendrick has plaved an ex-|board late yesterday. He takes the e part in the ex-|place made vacant by the death of ek company has| Milton Hopfenmaler. The new director ember of the law firm of New- | & King and is active in many activitles, E. Ellsworth, president of the | Distriet’ of Columbia Life Under | writers Association, announces that | divectors for the coming -vear will he | elected at a luncheon at the Ralelgh next Tuesday at 12:30. There are 18 nominees. S. I. Ballard and G. Lea | Stabler have applied for membership Kenna of this city was |in the association. It is 8180 announe. i of directc the | ed that the life insurance training standing fol- lwhunl will open .in July at the Central Y. M. C. A., r Hendrick, \nr Dr. Charles J. Rnoku‘:-‘:fi,l Alkscton whsence Newmyer was elected to ectorate of the Merchants’ Bank ist Co. at a meeting of the S the ¢ Vice President Elected. Fien Usher Parsons, one of the di- N was elected vice president to fill the vacancy due to Charles I Corby's death e W. White, president of the Metropolitan Bank, also a director, was placed on the executive committee. Ro; T added to the he official family no lows Officers—J. Thilman Current Cash Yy - Accounts receivable—Customers Notes receivable—Customers Inventories (at cost) . Investments (at cost) assets Bstersnis . $4,124,246.91 Unexpired insurance Other deferred items 13,778.94 estate and buildings . machinery and equipment nd fixtu . Plant, Furniture Total Deduct: Rights, franchises, patents and improvements . Deduct: Reserve for depreciation Reserve for depreciation Total assets Current liabilities Accounts pavable Notes payable—Due hanks s imployes’ savings fund o T S 85,943.7! Reserve for Federal income taxes .. B Capital stock (authorized $10,000,000 par \slue? issued and out- i standing Surplus Balance, March 1, 1925 Add: Profits before taxes an P Tess dividends decared and paid .. €,000,000.00 .$4,735,184.74 4 635,115.24 $5,270,299.98 $43,369.48 66,544, Deduct: Obsolete machinery, ote off, relating to prior years . Taxes paid and acc Depreciation of patents and pi This vear . e Last charged Total yed Patents and experimental work of current year, written off h 1, 1926 4,700,756.61 al liabilities and capital «..veevsssasassaesesseseeessssss $10,829,700.33 Washington Stock Exchange $100 at 1 Cavital SALES Anacostia & Potomac R. R. 5s—$1.000 u Potomac Elect Capital Traction 5e—S$500 Washinzton Gas 8¢ $1.000 at 1033 . Capital Traction Co—9 at 103 orfolk & Washington Steamboat’ Co—1 ‘otomac Electric Pow. pfd—8 at 107 ‘\A:A-hlm.mu Gas Light—15 at 681, | G », Washington Rwy. & Electric pfd.—14 at National Metropolitan_Bank—2 at 401 American Securitiy & Trust Co.—8 at 386, Firemen's Fire Insurance Co.—1 at 22, Columbia Title Insurance C Lanston Monotype— at 861s, GO at 85%. Merchants' Transfer & Storage pfd.—10 af 1007 10 at 100 % Pebiles Drug Stores pfd.—10 at 10. AFTER CALL apital Traction Bs—$1.000 at 90% . Monotype-—2 ai ‘apital Traction. 1 TUnion Trust Co. Riges National Bank Washington Rwy. & Merzenthaler Linoty) VNLISTED. Title, Insurance Co.—6 at 21%. Co.—8 % 1o i nckn Ba oid Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. . & Teiga. 4n Tel & Telga. 4% r. Tel. & Tel. ctl. tr. acostia & Pot. R. R. bs. . % bot. wur, e TTeléphone be. of Va, b8 ction B, K, City & Suburban Georgetown Gas 18t Potomar Elec. lst 5s. Potou S»250 mao: 8223253333382 Wash. Wash. Rwy. MISCELLANEOUS. © Paver Co Mfg, . ... A3 Pot. Joint Stock 1'd Bk. 5t Southern Bldg. 634s.. . Wash. MkL. Cold Storage bs. STOCKS. PUBLIC UTILITY. American Tel. & Telga.. ... . Traction. ngton_Gas otk & W 1 & Elec. com & Elec. ptd. NATIONAL BANK, Farmers ‘& Mechani Federal-American . Nat. Bank ‘'of Washinkton. | . TRUST COMPANY. American Security & Trust Continental Trust Merchants' Bank vings & Trust. Union Trust . 7 Wash. Loan & Trust " SAVINGS BANK. Commerce & Savings & East_ Washington. gmu-ny Savings & Com. eventh _Street United States. .. Washington Mechai FIRE INSURANCE. American ..... Corcoran . Firemen's """ National Union TITLE INSURANCE. Golumbla, Title. .. Real Estate Tii Tt &1V, Co. ot M. dom. MISCELLANEOUS. Paj 8 100% D. C Merchants' Mergenthaler Linotype. 107 e e e 108 e Lanston xonomu 8% Sec rlzy SIDI fl ey i Jooks closed. Washis T ividend: TEX Hehts. 3 Direct to The Star Office was too slight to be of significance. Fajardo Sugar at 137 was selling a point below the last previous sale a few days ago. Little attempt was made to do anything in the sugar stocks because of the uncertainty re- garding conditions In Cuba. Fajardo Sugar, however, was not considered too high at present prices in view of the fact that it was able to show earn- ings cquivalent to $22.63 a share for the year 1925, and despite the prevail- tng low prices for raw sugar, is still able to operate profitably, in view of the tariff protection which acts fav- orably for Porto Rican companies. Glen Alden Coal, which has been a feature for several days past, felt the effect of profit taking at the out- set, but subsequently rallied above the previous closing quotatior The Street was awaiting with interest the action to be taken in the near future on dividends. 100 Atl Lobos 10 Rorne _Scrymser 1100 Contl Ol new . 40 Cumberland P'I ) Burcka P L. ) Humble Oil & R 600 Humbl O&R'n wi 100 P L. ... 14 8100 Imp Oif hern P 0 &GN lar_Refi 1900 870 Cal n wi 1000 8 O Ind. . 1008 O Kansas 1008 O Ky 408 O Neb 7600 § O New York... "1 600 Vacuum Oil 081 INDEPENDENT OIL STOCKS 10 4y 200 N 10 Sales in hdrde. 10 Allen Oil .. - 1 Amer Con Oiifids. 5 Am Maracaibo (o L Femie FEF nlvm)hnx Synd’. Bxkaci L AR = & REERF 10 Mex Panuco 2 Mount Prod Nat Fuel Gas . "% Deer OWf Corp Red Bank Oil & Reiter-Foster 01l 20 Royal Can A & R 1 Rvan Con . o Vene 2 Wileo 260°Y" Ol .. INDUSTRIALS 100 13 Sales in hundreds. 104 Alb Pick Bar vt 2 Amal Leather. Alpha Port Cem amid v & Lt pf von Prod mannnl Br 2 Brad Fireprfs Brll CorpTal Bril Corp B Brilio 3 rillo : B, g A, i Bueseus Co. uf Niag & East 19 Can D Gin Ale n 2 Car Light ICent Pip Cor BChic Nip A IChic Nip'B 't 1 Collins & Aikman 1 Col & Aik pfd ommw P Commw P ¢ Con Contl B Ui Inti 1 1 Durant Mot.. B 9 Fageol o 'y Eajardo Sug Co. Fed Einance 4. § Firestane s ‘i Ford Motor 'Can. 515 1 Foundat'n For A |1 Fox Theaters' A Gen Haking A- Gen Baking B Gen Electric niew Gen Pub ‘Service 6 Gillette S R, . 1 Hapniness ( 1 Helman R ofa " 2 Hires. Ch A 2 Hollander & S A. 14 Ind Rayon Cor A 1 31nt Coner Ind .. 12Intl Silver n. .10 Manvillé ! 13814 Pow 3% Owene S 3 Nidiand St Prod 4 1y Mid West Util pf 10 {3 Mid West 17 prin 1 Mid West Util rin A P& Lt pf 78 hYTelConL.l' No Ohio Power 1 or Sta P C pld 1! orthern P n.. . 13 Bondec'D Gros ‘& ] Pratt & Lamb © Proct ‘& Gamble 1 Broohytac CBman 4] 1 Purity Bak 1 Purity Purity Bak pfd Rand K B new. 1 Reo Mot 3 Rickenbacker M. Roval Bak P pf Silica Gel vie 51 Singer Mte Singer Mfg L'.d 32 Serv El Cor 4 Sourn,'p Ers 1loub &L 200 Sou P & g Sou Cal E new. . Sou Cal E B SEREE E * R - Suzamas R 2 rod Export % Trans Tux Bl A S B vicl - oo 5 o 5 SRR R anS: & FEEEE FAE 8 ST e P SR ettt Pt 2 ERIRRT ST sz S35 e fd 5« o Whlu S ’ ER AR MINING STOCKS. 10 Ariz Globe C ... . 101 Cons_Cop Mines.. 3% 14 Con Min & Sm. . 18 19 Cortez Silver . L3 Eng Gld M L 30 Eureka Croesus 40 Flor Goldfid M 20 Forty Nine M... ! 8 Gold_Cent Mines. 20 Goldfid Cons . * o b 50 Hawthorne M 7 Hollinger . 40 Kay' Coppe 3 Kerr Lake 4 N'J Zine ¥ Nipissing . 2 Ohio Cop 20 Parmae Por M L 10 Plym Lead Mine . 1 Premier Gold M. 10 Red Warrior ... 2 50°am Gold & P 20 Teck "Huzhe B8 Tonopah Ext 4 Utah Apex 30 Wet End Ext. 3 & 2o 8nnz58-0 IR e ST is Se3eRetd St e is @ P S i W 3 £ LOCOMOTIVES ORDERED. NEW YORK, May 6 UP.—The Chicago, Rock Island and Pacific has ordered 15 engines from the American Locomotice Co., and the Reading Co. has placed an order for five with Bald- win Locomotiye. BAR SILVER PRICE. THURSDAY, MAY 6, 1926. BANKERS INDORSE DEBT SETTLEMENT Congress Urged to Act on French Obligation “With- out Controversy.” By the Associated Press PINEHURST, Unanimous adoption ye resolution indorsing the settlement, now pending before Con &5 and urging that the settlement n approval by the legis “without political controversy the cutstanding event of the conven tion here of the ex council of the American Bankers' Associatiof The hankers last night concluded the social program with a dinuer, which Dr. Edwin Mims of Vande ¥ was the principal speaker. (king on *the changin Mims told of a ¢ in this section, and deci ure of people in other sections country to discriminate betwe opposing ideas, made a real standing of th The speak: ay of £ the these under cited two or amples of what he termed the flicting ideas, and added that, “the liberals of the South are quite as well e of these paradoxes as anvhody else, but we insist that people of ather sections’ should lay emphasis on the signs of progress rather than on those of reaction. Papers, nes and books in other sections seem at times to take an unholy glee in emphasizing the thi that show the South its . aricature, satire and ism have colored the populs tion until little is known of the real South today. The ignorance, the in difference, the condescension prejudices of other sections provoking and discour Recommendations of often FOREIGN EXCHANGE. (Quotations furnished by W. B. H Stoeknholm NEW eign exchanges YORK, -May 6 peular ita ), demand 4.80 cables 1; cables Belgium, and, 40.14 mand, mand, 3.05 Nor Poland. 10.00 CONSTRUCTION 6% LOANS FRED T. N ESBIT Investment. Bl¢ Czechoslovakia EHE, e commissions | quotations committees made during the and ¢ convention included the fol- three-d: 1 Creation of a bureau of civil avia- tion in the Department of Commerce to encourage civil aviation. Enactment of laws in all States pro- viding for severe punishment of those convicted of robbery in which life is endangered. Adoption of vigilant methods among bankers with a view to reduc- tion of the number of bank robberies. Restriction of the manufacture and sale of concealable firearms. Money to Loan Secured hy first deed cf trust on e aiiine interest nd Joseph I. Welleri?) ™ ench debt | ators | || First and Second Trust Real || Estate Notes Secured on Im- proved Real Estate in the District of Columbia. Federal Security & Mortgage Company 1412 K Street. |First Trust Money | ON HAND —Auvailable for Both Building Loans and | Completed Properties Reasonable Interest and Commission JAMES F. SHEA 643 Lo iana Ave. NW. Buy Our First Mortgage Real Estate Notes | 6%% Liberal Partial-Payment Plan Continental Trust Company Capital, $1,000,000 WADE H. COOPER, PRES. 14th & H Streets N.W. Main 1599 1= id the | Money to Loa Funds available for Loans on Improved Real state and Construction in the D. C. We are also in a position to renew existent expiring Loans. ANNON: & TS | 713, 715 and 717 14th St. Main 2345 OLDEST NATIONAL BANK IN DISTRICT OF COLUMBIA When Wills Are Opened read, often therein to serve as passed to the Great arise to complicate m Your letters tes here to serve vo $C 1t Our 'I'!. t that individuals named trustees, have already No such situation can ratters when this bank figures in tary The Metropolitan will be e what may. anspires xecutors or Beyond you will National— g L] l"l T 112 Years O 15th St., . ' f Metropolitan 112 Years Bank Opposite U. S. Treasury A Third of a Century's Experience Main 2100 B.F. SAUL CO. We Have Studied Property Rentals —for over a third of a century. We have ap- plied, and are now apply- ing, the results of our study successfully for an ever-growing number of clients. Let us assume full responsibility of man- aging your rentals and of showing you a real profit. 925 15th St. NN\W. The New York Life lnsurance 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 “Houses Business Properties 51/2% YEAR PERIODS Apartments Office Buildings ON APPROVED SECURITY Apply MoRTGAGE LoaAN GOBRESPONDENT 1321 Connecncut Avemle NEW YORK, May 6 {#)-—Bar- sij2 )| ver, 647%; Mexican dollars, 49%. Teleplione Main 9700 FINANCIAL. Establish 4 Financial Surplus Only when you are free of petty details necessary to daily existence will Greater Achievement be possible. The purchase of First Mortgage Notes with annual return of 612% Under Our » Partial Payment Plan Will open the door to Greater Achievement. Investment Department 713, 715 -nd 117 14th St. Main 2345 APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Lecated in the District of Columbia and adjacent Suburbe in Montgomery County, M& 33 % INTEREST .._flppl.v teo H. L. RUST COMPANY LOAN CORRESPONDENT She PRUDENTIAL INSURANCE COMPANY o AMERICA 912 15th Street N. W. Main 6883 A S the constant dripping of water wears away the stone, so the constant in- vestment of your savings in sound securities gradually, but surely, wears down the spendthrift habit. Investment in our First Mortgage Notes keeps you from extravagance and offers you protection—and 612 % as well. Swartzell, Rheem §Hensey Co,, Mortdage Bankers' 72715th. Street, LW, WashingtonDC. 57 Years Without Loss to An Investor For Your Savings or Surplus Funds A you seeking a sound investment for your sur- plus funds or a more profitable w:* to employ - yéur uvings? ‘We suggest, then, that 3?u send £or our booklets about Smith Fends and our ®:vestment °“ ings Plag, for buying them. Current offerings of thcsc o secured First Mortgage Bonds pay 63 % and 7%. Our booklet “Fifty-three Years of Proven Safety” describes the time-tested safeguards that protect every investor in Smith Bonds, that have made Smith Bonds the choice of investors in 48 states and in 33 countries and territories abroad, and that have resulted in our record of no loss to any investor in 53 years. Our booklet “How to Build an Independent In- come” explains our Investment Savings Plan, which gives you 10 months to complete your purchase of a $100, $500 or $1,000 bond and also gives you the full rate of bond interest on every payment. Thus your savings may be invested safely at 634% or 7%. For copies of these two booklets, send your name and address on the form below. THE F. H.SMITH Co. Founded 1873 SMITH BUILDING: Washington, D. PITTSBURGH (el nst st Y WNO LOSS TO ANY, INVESTOR IN 53 YEARS ¥ Address R e