Evening Star Newspaper, May 22, 1926, Page 15

FI " CROPS INVICINTY ARE IN COOD SHAPE | Fresh Vegetable Stocks In- creasing at Farmers’ Mar- ket—Prices Lower. Tnterest in improved condition uf! growing following the crops raln a | week agn ie displayed in a hulletin | of the Department of Weights, M nres and Markets. Repor nch the hureau from varlous portions of the eountry surrounding the District, it i« pointed out in the hulletin, indi cate that growing crops have heen vastly benefited by the ralns. which have fallen over nearhy Maryiand and Virginia. Recelpts of fresh vegetahles at the Farmers' Mark: have already begun to inci oV what they were Ilast week.” it is stated in the bulletin, “but are nat Anite up ta what they were this time 7 vear ago. Prices have also shown some decline.” Continuing. the hulletin reads “Had the drought, which had pre- | vailed for seveial weeks, not been hroken, truck crops would have heen | very short, but if conditions continue to improve as they have within the past few dayvs, the indications point 1o a normal production, and \Washing. tan residents will he ahle to ohtain the usunal abundant supply of fresh; fruits and vegetables at the Farmers'' Market directly from the producers.’ Supplies Are Increasing. Nearhy truckers are dually in- creasing their supplies of green vege- tables, such as spinach, kale, onions, asparagus, radishes and other small vegetables. The price of spinach to something like a low K. home-grown | plaving interes fn reports of a prospective humper | crop of cantaloupes, reports from the Tmperial Valley of California telling of the prospective output of consider- ably more than 6,000,000 crates of the fruit this season, while the lower Rio Grande Valle: Texas expects three’| times the output of last season. 1t will be some time hefore nearhy growers will he able to furnish canta- | loupes to local dealers, and water- | melons will come still lat Florida | watermelons already have appeared | in this section and cantaloupes from | several Southern States will be in the | local market about the middls of Sum- | mer. Nearby dealers promise to pick the first strawberries of the season the coming ook Strawherries from the South have heen in the local market | the past several weeks, and shipments | from Norfolk came the past few davs. | Texas Vegetables Good. { Tiealers are more than satisfied with shipments of vegetable: eived | from Texas, including beets, carrots, ! enions, potatoes and tomatoes. the lat- | et vegetahle received heing green | eorn. The corn, shipped In storage | rara, is maid 1o he of splendid quality. | Nearhy growers. delighted | with the | changed weather conditions. ave hop- | inz there will he additional rains in the near future to continue the grow- ing started hy the rains a week ago. | Should such rains appear. it is siated. | hoth growers and dealers are reasan- | ably certain lower prices will prevail. | Poultry prices dropped a little dur- Ing the week, a drop that was ex pected, while egg prices took a slight | jump. Rutter prices remained un- changed during the week. as did meat | prices, the former marke: being very | firm. P Early morning buy tairly large numbers getting supplies for the week end trade, many of the supplies. espe- elally of products that are not espe- | ecially perishahle. being hrought in quantities sufciently large to carry | merchanis aver Monday. Market Prices Today. Butter —Fancy, onepound 4Raq7: tuh, 454K atore packed. 75 ga—Fresh. selected, 31a3”: hen-| nery, 33a34: eurrent receipts. 29a3n. | Poultry, alive —Turkevs, 25: Spring | : Plymouth Rock hroll- 3 mounds, 35 smaller, 40a White Leghorns. 35a40: fowls, 32a roosters, 20a2i: ducks, young, 20: . 15: keats. voung. T0aS0: old. 45a Aressed turkevs. 30- broilers, . Keats, young, 90a1.00: old, 50a66. Live stock-Calv choice, 12: me- } Alum. 10a11; thin. a8 hogs, heavy | and medium, 13'5; light, choice, 16; 1ambs, 16, Meats—Beef. 16a17 ; dressed pork 34035 Western, shoulders, were out in! this morning. lamb. 29 | heavy, 19: K loins, 30a32; bams, 30a37; Frult and. Vegetable Review. ‘s market report on fruits and lex (compiled hy the Market ervice Bureau of Agricultural Fonomics) sava Apples—Supplies light; demand light, harrels, Maryland and L-inch Winesaps. 5.50a \ 21,ineh vellow New- towns, 6.00a6.50, few T.00: A 2ly-inch | Ren Davis. 3.00a3.50: hoxes. Washing- | 1on. medium 10 large size extra faney | Winesaps. 2.75a3.00. Cahbage—Supplies moderaie: mand moderate. market steady Carolina. 13-hushel hampers. barrel erates, de. jumbos, | 45s, should have read, ponys. 5ds. Lettuce Supplies moderate: demand | moderate, marke: alifornia, | northern distriet. c1ate: 45 doren. 4.50a5.00; Nerth ¢ arolina, | K-peck hampers. Big Boston type, o Ainary quality and condition, 75a1.50. Onions—-Supplies moderate; demand moderate, market steady; Texas, standard crates, Yellow Bermudas, 8. No. 1, mostly 2 Potato Market Steady. mand moder atack, Michigan. 150-pound sacis Rus. | Rurals, U. & No. 1. mostiy avound £.00; new stock, Florida, d head harrels Spanlding Rose. U. 8. No. 1, 11.60a11.25; South Carolin. cioth top stave batrels Irish Cohhlers, U, S. N 1. 9.00a10.00: 1, No. 2, No. 3. mostly, 4.00. Strawherries - Supplies moderate: demand good for good stock, market steadv: Virginla, Norfolk section, 32- quart and f0.quart craies. various v rieties, hes!. fair quality condition. law ver quart: Vir uart erates, va North taro- Missionaries, hest, mostly v low as 4.00 quart inary £.0026.50. few eraies, condition mand mederate, market steady: 14a, atxes. ripes and turning. wrapped, wide vange in prices: fancy count, 5.0026.50: choice count, 4.00a5.50; Taxas, fours. pink. wrapped, hest, 2.75 a3.00; poerer, Ieaky, H0a1.50. String beans—Supplies moderate: | demand _ moderate. market fairly steady: South Carolina and Georgla, hushel hampers, green, 3.50a4.00, mostly 3.3 . Cucumbers- Supplies light: demand moderate, market staady’ Klorida, 7% bushel hampers, faney. 3.23a8.50. The wax myrile is somatimes known ae the tallow tr Candies are made fram ite her < are seap and seal. ing wax. NING NEW YORK CURB MARKET Received by Private Wire BY WILLIAM F. HEFFERNAN. NEW YORK. M h movement predominated in short Curh NMarkei sesaion, olls attracting most attention in of activity, Vacuum' Ol at M1 gained half a point knd an advance of another point urred in Warner Quinlan. Low- priced members of the group gave a good account of themwelves. with th South Amevican issuex prominent. Pandem oll, the latest addition to the list, sold at ii« highest price, above 9. 1t was evident that those hack of for these stocks were nnt et the market ssg and of- ferings around curvent qiioiations were readily i1aken. Profit taking, which hax heen pronounced in Bank OIl. following the recent im. provement, apparently had heen com- ’ point NEW YORK. May 22.—Following is an ofMcial st of bonds and stocks traded in on the New York Curb Market today. Sales in averboard 2 Bell T Can 5 . sh_Cona 8 i 0 Gen EI Ger er R o8 hros aR RS 23 203, Salesin STANDARD OIL, 18: units. Oh 120 % 0 Ohio pld 1800 V n Ol Sales in e s 26 14 .38 hoan EEET> >R Ei! ap, 2 . o Red | Direct to The Star Office ! pleied and.the upward movement got | under way again. Publie mu‘mn were .in better de-| mend, hut advances were omly frac | tiony Commonwealth Power and | ie and Bond and Shere Xecurl % roze u half point er so. | 1t was difficuls (o attract & following lin motor siocks, Masi issues were desit in at unchanged prices, with the | exception of Dirant Motors, whic | xald off fractionally to its previous low for the yea | 8t. Regis Paper furnished a feature | side of the sdvance among in- ! specialties. 1 The $35.000 000 issue of United Rtaiss of Brazil 6% per cent external sinking fund guld hond which was so successfully offered at 90, mitted to trading, but attracted little attention. | | - Sa IBRINSERRNAZ-S.E D rit-Am_Toh reg. o B R R 3 Can'Pr Gin 4 . R 1 Gane ' Bine Co 1 Chie Nin A 1 Ghie Min 8 7 1 Cofline & Atkman 1 colline \& Ak of 1 commanw Pow’n 5 Contl B #1 Contl Ret: 2 Gentl _B: Acun T 12 Davis Coal ¥or R € Durant Mot A e e pogeuDLee= & PR i R GSE EAEa (ot o 3 380 A e B A PERTS R F ST F F SO 3 =g, 3 o ey ;e ;2D SO P IR L S PP, XRLTTTST! = S g_\ 3 BB SRaB srpied L2TRATREE. - P SO~ P NN~ iy Y Tub i G in Sales in MINING STOCKS hundreds. L Cons Con Mines 31y 1 Ad T 12 GoMoon " . Ohin Con # 20 Spearhead Gold. .08 10 Utah "Apex 19 1 Wenden Cop 40 Weat End OIL RISES AGAIN. PITTSBURGH, Pa., May 22 (#).— Another advance of 10 cents a harrel in the price of Corning grade crude oil, the second this week, was posted by purchasing agencies today. The | new price is $2.55. Lo Ext. .03 DRY GOODS UNCHANGED. NEW YORK, May 22 (Special).— Catton goods ets closed the week | slow, with prices unchanged. Print and 8% for 63x7’s. Raw silks were | Inactive and little changed. R _ INITIAL DIVIDEND. NEW YORK, May 22 (). —Direc- tors of the Cincinnati, New Orlean & Texas Pacific Rallway today de- |clared an initial semi-annual dividend of 4 per cent on the new stock isaue. June 7. Your Banker, Knows. When in doubt about a security consult your banker. It is equally as s interest as your to protect your savings. You frust him with your deposits—why not trust him with your investment problema? STOCK ADVANCES HELD “TECHNICAL® RECOVERIES Rise Following Extensive Decline, and Not Fresh Upward Movement—Commodity Prices Low, But General Business Keeps On. BY STUART P. WEST. Dispateh ta The Star. NEW YORK, Mav 22 market of the past somewhat better. But It has beem a recovery following an extensive de- cline, arnd hy no means anything sus- ~The stock i gesting a fresh advance. “fechnical reasons have bheen upper- mosi. When a market has heen going down steadily for four months a short interest is apt to develop of sufficient proportion to make it worth while for professional traders to experiment with the other side. This is what has besn going on in the last few davs. The market has appeared to be over- | | s0ld in some of the motors and other highly speculative stocks, which had a tremendous fall in the period from the end of January to the early part of May. The public has not been do- ing any fresh buying, bui the habitual trading element sensed the position that liquidatio had run its course, and that there cere many short centracts which might be forced in at higher prices. Ronds Continue Strong. On the outside the features have heen the continued low rate for { money, the lacge distributive huain | being done |and the new threughout the country low records for French Relgian currenciéh. The low level. as usual, has made it self felt in the hond market, which has heen stormed hut witheut any fresh tendency toward advance. bonds have been more or less unsettled in conjunetion with the decline in paper money values, but the higher class of domestic issues have been holding around their highs of the vear. There does not seem vet to he anv prospeet of a change in the money situation, and therefore in investmepts which vary with money conditions. The cent rise in sterling ahove anything since Dacember, 1914, sug- gested the possibility of gold export, which might have heen felt in the meney supply. but the sterling ad- vance did not_continue, and with new indications of further trsde sxpansion and ‘with commedity prices low, the Bt and money ' week has done | in Wall Street has | OF PAST WEEK engentials are not present for monex to work upward. ‘The best opinion is that the monev market will continue | as it Is for a long time to come, and that this will mean sustalning invest- ment valuation; their present high level, even If there is no increase. ‘The Business Situation. In general. husin trength is laid upon the large velume of bank clear- ings and car loading reports, which continue to show big totals. But, on the other hand, commodity prices are low. In steel they are under anything since last October, 7 In sugar they are below production cost for all but the hest inanced com- panies. Tn copper they are distinetly disappointing, as compared with the expectation of six months ago that there was to he a general revival in Furope which would involve increased purchases of American metals. The cotton market Is dragging along within the same narrow limits that it has maintalned in the laat year. Here again is a ecase of a slim profit margin. The main supporting factor s that prices representing trade opin- fons on the new crop are so near the actual cost of production that they cannot well go lower. The eurtail- | ment in the textile industry, along with the hetter weather conditions in the crop bhelt, has heen a depressing | influence, which it has heen hard for | the market to resist. French Franes Rally. French francs vallied toward the close of the week of various artificial el port. ‘The American loan of $100,000.- 000, made two vears ago, is said to have heen availdble for sych a pur- pose, and as an extreme measure the gold reserve of the Bank of France could he drawn upon. 1f these ex- pedients have lLeen adopted it simply showed the desperate straits which French finances have reached. ‘There have heen rumors of at- tempts to arrange furthey credits with Ameriea and Great Rritain on the pledge of industrial assets. Rut these have not been confirmed. and. an the contrary, there seems to he a disin ination on the part of bath American | toher, |ary. [a little realizing or liquidation. cloths stood at 7% ecents for G4xAns | payable June 25 to stoek of record | ot COTTON TADI 5 QUETER TODAY | | Prices Hold Fairly Steady on Covering for the Week End—Selling Light. By the Associnted Press. NEW YORK, May tures opened steady: July, 18 Oe 17.56; Decembe 17.4 Janu- 17.36; March, 17.46. Cotton war auiet again today. The early 4 otton fu- very | weather news made a fatirable im. pression on sentiment. and except for there was no selling pressure. Prices held fairly steady on covering for over the week end, and after opening 16 points lower to one point higher, active months worked ut 3 or 4 points above yesterday's closing figures. July was holding around 1829, and December, 17.47 toward the end of the first ho Owing (o the Whitsuntide holidays. the Liverpool market was closed until Tuesday. The amount of cotton on shipboard awaiting clearance at the end of the week was estimated at £0,000 bales, | azainst 58.000 last week. New York cotton futures closed steady at » net advance of B (o 11 pointa. i Aes December * Mare NEW ORI Contton futures 18.00: July, 17 cember, 1710 hid; "ner7). The market today opened quiet but steady, With Liverpool closed for the Whitsuntide holld; First trades showed losses of 1| points and Oc. toher moon eased off “to 17.10. oy 4 points down. The market later ad vanced on the absence of rain in the eastern helt where needed and on desit} of shorts to cover over. the week end. July traded to 17.59, Oe- and December 5, or up from early lows and 1 1o 2 points above the previous close. At the end of the first hour the was steady and near the highs, with little disposition to wade. New Orleans cotton futures closed wtaasy at’a net advante of 1 1o 4 points. January, SHOW BIG INCREASES CLEVELAND, Ohio, May 22 (#).— Nickel Plate road earnings reported today for April and the first four months of 1926 show increases over the same perind last vear. Net income for "April. after all charges, is $629.04 an_ increase of $180.024. Net incon for the first four montha is $3,260.707, an increase of $1,230,660 over same period a year ago. Railway operating revenues for April are $4, .998. an increase over April year ago of $162.167. Railway operating revenues for first four months is $17,997.906, an increase 4 Net raillway operating income for April s $921.118. an increase of $130,968, and for the first four months $3,461,095, an increase of $88,593. WE FINANCE ~—al! classes of income-producing property Large Loans a Specialty Current int. rate and commission & Richardson, Inc. 816 15th St. N.W. ECIAL NOTICE v Chase Clih.' a corporation cre ‘the Taws of {he ‘District of Columbia narty 4F"ne el bart under & certain denture of mortzage. or deed of trust d; Iv 10 19130 to the Fidehity M.} trust atert Trust Ca. (af uant e the it instrn notice of (s inten d by truat, 1,102 per cont. at ¢ of ‘the American Security July 1. 1926. 1l o the honds are £ article secon CONSTRUCTION 0% “1oAxs FRED T. NESBIT Investment Bldg. M. 9392 :ik w&fiffi Mp”l bk s $T0CoN0S § Continental Trust Company Capital One Million Dollars 14th & H Streets » il L FIRST MORTGAGES FOR SALE 6'2% JAMES F. SHEA 643 Lou a Ave. N.W. | Insurance Course By University Faculty A highly specialized cour: Life Insurance Saleuuamhlr. it's functions and principals are open to tweo ‘men with proper qualifications. ~Appli- cants who are leaders in their respective lines and hetween ages 25 to 45 preferred. Phone Main 1535 or - write for appointment. H. 0. McLean, General Agent Provident Mutual Life Insurance Company and Britiah capital to take any fur- ther interest in the Freach situation. WASHINGTON Money to Loan D. C., SATURDAY, MAY 322 st Ly e ik B | A Third of a Century's Experience B.F. SA Main 2100 738 15th Street Prompt Actien First Mortgage Loans FINANCIAT The New York Life Insurance Co. Offers to Make We Pay You Actual Dollars —in increased profits—’ when vou let us manage vour rental property. specialists, we know how to accom- plish large property earn- ings. Our own charges are You gain the dif- experienced small. ference! LIPPING in a few cards out of L) turn to make them come out right is never really beating the game, and the only possible victim of your dubious triumph is yourself. And when you invest in question- able stocks vou are tickling one side of your pockethook with false sav- ings while losses take big bites out of the other side. For 57 investors in First Mortgages have won safety and a liberal interest return. We now have on hand some attractive years our issues yielding 613 per cent. Swartzell, Rheem & Hensey Co., Mortgade Bankers TEY-15th. Street, LV, Washington DC. 57 Years Without Loss to An Investor UL CO. 925 115eHSt. NIW. F irst Mortgage Loans On Tmproved Real Fstate in the District of Columbia and Nearby Suburbs in Montgomery County, Maryland. FOR 3, 5 OR 10 YEAR PERIODS 5%:% ON APPROVED SECURITY Apply RANDALL H. HAGNER & COMPAN: MORTGAGE LOAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Houses Business Properties Apartments Office Buildings As “First Mortgage™ SHEEPSKIN HIS boy was gra duatin g from couege. He recalled the nigl'n some twenty-two years before, when the nurse had handled the wig- gling bundle of hu- manity that was his son—and how he had planned his future—how month after month he had. through the Partial Payment Plan purchased First Mortgage Securities toward a flay when he might enjoy giving his boy the best— Thinking Fathers Choose First Mortgage Notes ——secured by Improved Real Estate located in the Nation's Capital a fact that makes them doubly— Dependable Mortgage Investment Department Remunerative Main 2345 713, 715 and 717 14th Street May 22,1926 $35,000,000 United States of Brazil 6%% External Sinking Fund Gold Bonds of 1926 To be dated April 1, 1926 Due October 1, 1957 Part of these bonds kave been withdrawn fer sale simultaneously in Europe by Messrs. Mendslssohn & Amsterdam, Nederlandsche Handel Maatschappij, Pierson & Co., Authorised $80,000,000 or the equivalent in Sterling: to be presently issuad $35,000,000. lmlofl isters bonds in denominations of $1,000 and $500, ;h! t standard of weight and fineness in e except ot par of exchange at the office of Messrs. N. M. Rethachild & Sons, the Sinking Fund. The National City R,Mees & Zeonen, and others payable April 1 and October 1. Coupen le as te principal only. Principal and ihterest able in United States gold cein of ew York City at the office of Dillon, Read & Ce. or, at the helder’s option, in Londen in free of all Brazilian taxes, present or future. Non-callable ink of New York, Countersigning Agent. The total issue is redeemable by maturity through the operation,of an accumulative sinking fund which will call bonds by leot, mi-annually, for redemption at par and accrued interest Tha Brasiian Government has agreed to make application in due course to list these bonds on the New York Steck Exchange The following information is contained in & statement furnished by His i!cclloncy, Dr. Annibal Freire, Minister of Finance: These bonds will be the direct obligation of the United States of Brazil, and are issued under authority of Law No. 4625 of December 31, 1922, and Law No. 4984 of December 31, 1925. The total issue of bonds will be specifi- cally secured, in the opinion of counsel, by a first charge on the reeeipts of the Government from Income Taxes and Taxes on Invoices (Contas Assignadas Duplicatas), by a charge on the Consumption Taxes subject to the charge of the 8% Loan of 1921, and by a charge an Import Duties subject to t| of 1898 and 1914 and the 8% Loan of 1921. The totsi revenue derived by the e charges of the 5% Sterling Leans vernment from the above sources in 1924 was $117,000,000, and in 1925 $148,373,000. After deducting the indicated prior charges upon a portion of this revenue, which amount to approximately $11,798,400 per annum, there would have remained from the above sources in 1925 the sum of $136,574,600. The service of the present issue of $35,000,000 bonds for both interest and sinking fund calls for $2,625,000 per annum. SINKING FUND An secumulative sinking fund of 1% per annum, payable semi-annually, will be applied to the redemption of bends by call by lot at par and acerued interest. The sinking fund will be increased by amounts equal to interest on bonds previously redeemed. Thi inking fund is caleulated to retire all of the bonds of this issue by maturity. NATIONAL DEBT The national funded debt of Brazil on December 31,1925, was approximately $936,000,000, of which $626,000,000 was external. This represents a per capita debt of approximately $30, as against whieh the per capita nationsl wealth is estimated at approximately $530. The Government has undertaken to resume in 1927.the sinking funds, on certain Sterling Loans, which have been in suspense under the terms of the Funding Agreement of 1914. The proceeds of the bonds are to be applied in reduction of Treasury obligations including floating debt. (Al conversions above of paper milreis into dollars are at the spproximate current rate of 14.50 cents per milreis. Other conversions re at par.) ———————————— > The Aalements quoted above, received parily by cable, have been aesepled by usas accurate butare in no svent lo be consirued asrepresentationsbyus bond. ivery when, d if isomed and We offer thase bonds for. dol::g”“‘gug [ :rb. :a ceunaal, Mesors. Colto ), and Dr. Alj e et o Tntarim Receinls of Dillany Read e Price 90 and Interes aecepled by s and subject ta the appresal of all legal matters ernardes da Siloa, of Rio de Janairo. It is espected will be ready for delivery on or about June 4, 1926. To Yield over 7.30% to maturity. ew Ve Thtaben s eukaqhle s eirouliey ceaialwing JRANSS information, whiskimay be'obainad i pan ragud Dillon, Read & Co. The National City Company Lee, Higginson & Co. Blair & Co., Inc. White, Weld & Co. The First National Corporation Continental and Commercial Trust and 'S'a.;:unngs Bank Illinois Merchants Trust Company Kissel, Kinnicutt & Co. Hemphill, Noyes & Co. : Cassatt & Co. The Unioanrnst Company Cloveland Ladenburg, Thalmann & Co. Paine, Webber & Co. Edward B. Smith & Co. " Janney & Co.