Evening Star Newspaper, August 13, 1926, Page 15

THE EVENING STXR, WASHINGTON. D. " U, FRIDAY. AUGUST 13, 1926 e ————— e e e e e e NEW YORK CURB MARKET BATTLE IS LOOMING INAUTOINDUSTRY _Other Companies Trying to| Keep General Motors From Getting New Trade. BY J. C. ROYLE. Dispatch 10 The YORK August 13, While Wall Street was digging the seeds it of its ears today and digesting the 50 per cent stock dividend melon «f General Motors other elements in motor industry analyzed the situ- n in the light of the action of neral Motors' directors and found not_discourngin Under the new dispensation General tors is faced with the necessity of wrning and paying $7 a share a car in dividends on the 8,700,000 hares of common stock outstanding addition to covering dividends on preferred and debenture stock. sident Sloan’s statement t the ook is entirely satisfactory may taken at its face value. Tt can 1mean only one thing—that the direc- tors of General Motors are convinced this is not only within the range of possibility but of surety. The cash situation in which the cor- poration finds itself after a record- Lreaking year seems also to assure the expansion program which it is known hias fizured largely in the plans of the 1y New Owners Secured. it is Motors NEW earnings, General compiled hile sed eded by were m new who not much owners as from iy had owned ivers pre Other & nswer to this said o this competitior d, they ook the action of G 1l Motors as onfirming their own belief that “the isiness was there™ for whoever could { capture it All hands are going ahead n that assumption. Employment in Detroit has gained between 4,500 and §.000 workers in the last three weeks. Forecasts for equal or increased husiness in the second half of this car are based upon the fact that Liore companies are bringing out new cars than in the second half “These models are probably ttractive eve ed by the al has been ex- the color fea- among their New lighting anufacturers in )day they did not omobile 1 lines of Sl tndustry tensively invoked and res of the New cars ar most attractive points. ires are offered and the models wer, faste racier and better Jking than ever before, with im- proved riding qualities. At 1o time in the histor tomobile industry b vars been ed vinded, t ing toware “omfort and mechanical silence exceed anything before ¢ of the au- many new nnee o operatio known. Many New Models. announced with highe and a list of rovements in Buick recently tire new i power motors ments nd cludes combin only an en horse refine engine new _line in- 1 500 color ions. -~ Chrysler's light six s few months old and the com- pany will soon announce a new four- evlinder line. + Roth Iudson and Essex have been tmproved and refined, the latter fea- nrinz an allsteel body. Studebaker has added several new models. Chev yalet will soon have a new line in a Variety Nash is making cha 8, s added a new sedan. Elear is bringing ont a new. cight-indine and a six roadster. Pecrless producing a | vew model 680 roadster-coupe. Meon recently commemorated the twentieth year of manufacturing with a new type of European-American the Jubilee Moon 6 with roadster and phaeton models rlands new Whippet is said to be wd demand. Chandler need a 1927 line at price redue- 50 body styles i Pontinc lly every manufacturer is 21 Toop to rope and throw the trade. Export business was > for fully one-twelfth of the iness of General Motors in months. _ Nobody knows the IFord Motor (ompany but it is certain this larg relving more and more s developed in foreign what mrofits ave est producer on new driver countries Automotive | United lucts exported States in the first hs of 1926 amounted to $1 an inc 9.4 per cent sompared with the corresponding RAILWAY'S EARNINGS HIGH £ ugust 13, Ea We 1 Maryland above last vea k of August st tssued by BALTIMOL fngs of the way continued ac the the week v ended bring- ing_this 281,07 As has been the » in the past. in- sed coal and coke traffic is cred with most of the increase. A in of 58 per cent revenues from this class of business, combined with =maller in; in mail, milk and misceilane reveni offsets. creases in passenger. express other revenues SURPLUS CARS DECREASE. cht ¢ .’L"}il?!cl\ti:: i ately aval hle fnl'i to reports filed to- | S with the car serv s one railroads on surplus and imme accordin 199, repair service, “pair on | crease of week. | totaled cars dur S8 surplus s 441 cars eported on July erator car ase of 1 previous period » is being | 23 wh fotaled 11,688 within the Practics reporte STEEL PRICES UNCHANGED. NEW YORK, August 13 (P).— unchanged. The m late in the morning tailure of nur complaints of in- reasing insect ivity and dete- rating crop prospects in the South 10 bring more general demand was disappointing and probably en- cournged a renewal of local selling Some Southern selling and liquida- ton of old long accounts was also reported on the decline, which by midday had extended October and v Janua tracts, or at % points net lower, low ground for the moveme P easier es o METAL MARKET. ast 13 (.- Cop spot and futures, spot and nearby. Tron. steady: |in the first half of this year totaled | | dow gl Received by Private Wire BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. _NEW YORK, August 13.—Opera- tions for the rise on the Curb Market had to face the severe test today of the raising of the New York Federal Reserve rediscount rate from 3¢ to 4 per cent. Recent developments in the money situation had indicated that the reserve bank directors might @ct upon an increase, but the decision hursday to bring the rate into line with other regional institutions proved not to have been fully discounted in the speculative market, and selling naturally made itself felt throughout the greater part of today's trading. Declaration of a 50 per cent stock dividend by directors,of the General Motors Corporation eliminated one of the most bullish factors upon which a good deal of the recent speculation for the rise had been based. With this good news now out, the way was opened for efforts to bring about fur- ther reaction. Food shares. which have been looked upon with a good deal of favor re- cently and which had given a good account of themselves Thursday, NEW YORK, August 13.—Following is an official list of bonds and stocks traded in on the New York Curb Mar- ket today: Sales in INDUSTRIALS. hundreds. o T igh. = it 3 e @ g g [ L & Trac.: Po & L pid Rayon Prod Seat pfd. .. Seating vt Superpow 2 Am Threa C_pfd 18 Awso Gas & Elec 1Atias P O ne: Balaban & K v 1 Bohn Alum 5 Brad Fireprfg 1 Brieept Mach Brill Corp A’ Brockwa, 7 Bkl 'h.\'k R uf Ni st 5 Can B Gn Alen 1 Cellulotd Co..... R 2>pE>oIR>D) 33333388z > 3 100 Comw,_ C war 2 Consol Dairy P. 8 Consol G Balt n 14 Consol Laund .. 36 Continen Bak A 205 Continen Bak B 4 Cont'l Bak pfd. 3 Cont'l Tob Inc YDe F R _C vte. | iy Dixon Crieible 1 "\\ Dominion St Ifid 1Duz Co A.. " 10Duz Co A vte ! 24 EI'B & S'n Corp T8 F1 Invest Inc.. 2 Emporium__Corp E Pub S PP pfd 1 Welte Corp A 2 Fageol Mot Co. Forhan Co_ A *a Ford Mot Co Can 498 1 Foundat For A. 18 3 Fox Theaters A’ .0 Freed Eisem R C. 38 Freshman Chas 4 Garod Corp 15 Gen Bak A. 131 Gen 3ak B, 1 Gen Flee Ger 1 Gen Ei G tr repts 1 Gen Fireprig 216 Gen Motors wi. . 11 Gillette 'S 4 Glen Alden P JUTIS B 1Dk Gl REmmo G D » EE IRt i mtete S R 3 > Happinesa C St A i :{mn dor & §' A 2 eysto Solether. 50 LehPow new 10 Leh Val C cfs 1 MacAndr & F C 1; Mengel Box A bi Iron. . 1 Midvale oo Bohawlc Vil hiw =52 £ rthe. Pow ington Broa Pac St Botler 1, Pittsh & Lake E 4 pratt’ & Lamb ¢ 1y Proct ‘& Gamble 1 3 Purity Bak A . * 2 Purity Bak B.. i Prrene Mfe ... d_Kar Bi n 4 Reo Motor, 1Rep Mot Tk yte ? Rickenbacker Mo Roval Bak P pf1 4 Seeman_Bros wi i8ierra Pac E .. Singer Mfe . R Serv_EI Cor i Sou P'& L n 1Sou P & L p pf 700 Sou P & L war.. 2 St Reg Paj and P A 4470 2 Stutz Mo b Swift Tntl > Tox Gulf § 10 Thermiod Rad 2 Thomp Rad vie i Timken Axle. . Lux_Pic ‘A Trumbuil St} Tubize A S B vic i Sol Lamp A n’wi C TR & Metals. p Mines S0 Flor Gold 1Gold G Conper Cor Va) tional Tin w Cornelia ewmont Min pranda, 1 North _Butte 2 Ohio _Cop M 10 Par Po; 20 San o, K 4 S0 Am Gold & P 8 Teck Hughes TUn Vi Ext 9 1tah Apex 10 Wenden Con INDEPENDENT OIL $TOC Lid Sales COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY LY Mass., August 13.—About 130 “niggerhead” operators employed in Lynn shoe factories are on strike demanding $60 a week or $10 more than at present. This {s tving up 00 other workers. This is the first strike in about a year in the industry here. BATON ROUGE, August 13.—Pro- | duction of mineral oil in this State; 11.087,000 barrels, according to fig- ures just made public. This is an lorease of 1,203,000 barrels as com- ared with 1925. Much wild catting is going on over the State. Pa., August 13.—The win- s industry which centers around this city is falling below the normal rate of production at present. Only one of the three large local plants is in operation. A controversy over wages still is unsettled there and may force closing of the plant September 24. CHICAGO, August 13.—Cheese re- celpts at Wisconsin points decreased 136,482 pounds during the last week. Wisconsin's apparent trade output was 5,870,128 pounds, an increase for the week of 335,324 pounds. Cheese markets are firm KANSAS CITY, August 13—Local | flour mills in the last week produced 156,607 barrels of flour or 2Qf00 bar- KAN steady: spot st.” Louts Antimony, I Lead 1y: Enst 7.30a7.32. rels more than the previouly weekly record and less than 9,000 barrels from capacity. Kansas City now ls in third place as a milling center, Direct to The Star Offico came off under profit-taking. This was particularly true of Continental Baking issues and both classes of Gen- eral Baking shares. The motors continued active and were offered freely at prices fraction- ally under Thursday’s final quotations. Durant Motors lost a half point before the selling was completed. Stutz dropped back to the 22 level and Rick- enbacker changed hands at 6 again. The recent upturn in DeForrest Radio proved to have been nothing more than a false move and the price lost a point when it dropped below &. Other radios were in better demand than they have been in some time, but there was plenty of stock for sale whenever bids made their appearance. Among industrial specialties lower prices were recorded in Texas Gulf Sulphur, new, Consolidated Laundries and several of the public utilities. The market for oil shares was evident- ly awaiting further developments in the trade situation. The recent activi- ties in Y Oil and Gas, one of the low- priced specialties, was accounted for by the announcement that the com- pany has brought in two important wells. 5 Cit Serv B B 20 Columbia S: 20 Creole Synd; . . 1 Crown Cent Pete. 2 Derby O & Ref 4 Euclid 0il Co. 4 Gibson Ofl Cor. . 3 Gulf Ol of Pa’. 5 Leonard Oil ... . 4 Livingston Pet .. . 1 Lone Star G n'D 55 Mex Panuco B Mount Prod 3 Mount Gult. 15 New Bradford 0. 1New Mex Land. . Cant Tex 0 uel Cor, 2 pe 1 Red oil ] en:émner oif. H-‘ g Con, . val O&R. A Salt Ck PR imeee 1 ws o 2 oes am eSS mans s i LS 10 it S Bl e =G Lusion e S E B0 Inziom ekt 2 St At Cle ¢ o o Prod. o i SR 5 ) & BomneTD S 50D F S R g S STANDARD Ol in units. 100 Ang A O nonvte 17 280 SSU! 1 1. 2235 10 Borne Scrymser 350 Buckeve P L. .. 100 Chesebr'gh _M1g. 1500 Continent Oil n *20% 50 Cumberland P L. 114 5 R o0 E S D DR 2 3 m & g 5" o = (3 = 2 3 ) 22353500 33333335 e 2 = & Imp O Can new Inter Pet C Ltd. Dat Transit . Penn Mex Fuel. E e S Prairie O & G rairie P L 0T N - o FS0 DS 1903035 DA o 8% puBiomsBuamsitis ™ ! 3 B TR SZ2satsiearonams BEBRSESHAEGE ST s e s o8, =t oo 23 SR353! =0 —5SeSnaa=Snnt L 35333 25 2 3 Sp9=ooooo0s55523 :i——asczzznzaq-:nz S EREE R ES > 22nm :.a > g 3 ] .e, 5 7 EEREEERREEERH] BER PR SERS 2532 292005 9 Cons Tex R 1 Cuban Tel 7 o Cuban_Toh 'Co Bs 14 Duke Pr Pw s A 2 East T O Bl 6lis Refrig 65 =3 [ Fl K Gal Sig Pet 7 Gatineauy P s wi 94 on Teo Crm 6158110 1011 071, 31 083, 108 .o o8 General Pot fa 5 Grand Trk las Ind Limes 0s . Ind P & L 6 Lehiech Pow s A #410 Lig Car 6 0%, Loews Tne b Mn W, R Nat D Prod & > Nebr Power Gs. . 21 Nev Cal Elec 8 66 Nev_Cons Cop_bs 10 Niac Falls P 0a 1083 24 Ohio Pow 4154 D RO, 7 Ohio Pow 5a B.. 08 20 Ohis Riv 36 Otis sl Ed 5. 4 Ph E P 5lys 5 Phila_Rap Tr. 88 3 Pub Ser NJ 5las Servel Del 6a. . 1041 Schuleo Tne Bths 1061 Schulte R Es 68 98 5 Shawsheen q 10215 100 29 8 Cal Ed Bs Sou"Gan 138 EP&T 6 P & I o8 nw s & Swirs Co Transeont O 'n 0il Prod R8s Rub 61,8 "28 1 S Rub 618 Rub ils Sales FOREIGN BONDS. in thousands. 1 Antioqua 4 Antioaua 7 Baden e Z Bue Airea T 10 Bue Aires 7a ‘52 i Bue Aires s 44 Brazil 0ign’ . 2 Burbeis & Wu 08 ¢ i Culdas 7148 50 Free St Bav 8138 25 Ger Con_Mu 7e.. § 10 Gr Con EI 658" 10 Hamburg E 7s AHon LM The A 8Indt M_BKFin7e. 1 Tseder Stl_7a a71tal Pu Util 31 Krupp Fr 1, Leonh T ¢ 10 Tm St W 61y oan1d 1 West Un EI'G%38 881, *Ex-dividend e SUGAR PRICES UNCHANGED. NEW YORK, August 13 (P).— Prices were unchanged in the raw sugar market early today with a sale recorded of 13,000 bags of Cuban, due next week, to a local refiner at 4.24 duty paid There was not much change in the | raw sugar futures market during the forenoon session, although the under- tone was steady and prices at midday were about 1 point net higher. Trad- ing was only moderate, with consid- eregfle evening up for over the week end. Refined. unchanged at 6.70a5.80 for fine granulated, with a moderate in quiry reported. Marine Corps Changes. Lieut. Col. T. E. Backstrom, Quan- tico, Va.. has been ordered to the { Marine Barracks, Washington Navy J. A. Rossell at the been ordered to Yard, and Maj latter station has Quantico. Capt. C. M. Ruffner has been trans- ferred from Marine headquarters, this city, to the Infantry School, Fort Ben. ning, Ga.; Capt. C. F. Kienast from Quantico to the 1st Marine Brigade, Haiti; First Lieut. H. B. Enyart, from San Francisco to Quantico: First Lieuts. H. N. Stent and F. W. Han- Jon, from the Asiatic station to Quan- tico: Second Lieut. R. M. Gulick, from Seagirt, N. J., to this city. “Flapper” Held Not a New Word. “Flapper” is not a word of recent coinage, though it has come into use again only in comparatively recent years. In England under George the word belonged tQ low speech and it was used to describe a courtesan. Prior to its recent use to describe a voung girl, whether sophisticated or not, it had been in disue. ® century, for more than IRESERVE RATE GAIN EFFECT DOUBTFUL Decline in Market May Be Due to Increase or to General Motors. Special Dispatch to The Stas NEW YORK, August 13.—The ex- act effect of the New York Federal Reserve rates increase was hard to determine today because of the com- plicating factor of the General Mo- tors dividend. Such declines as oc- curred in stocks might easily have been sympathetic with the sharp drop in General Motors, which was follow- ing the familiar principle that a fa- vorable incident long awaited was apt to have been fully anticipated. The Federal Reserve action might have been taken two ways, either as a local readjustment to the 4 per cent rediscount quotation prevailing over the country or as a warning to speculators that the market had been going ahead too fast. The fact that there was no general and no precipi- tate liquidation as on past occasions when the reserve authorities have put up rates seems to answer this ques- tion. The raising of the rediscount rate was probably correctly described as being a subduing but not a serfously weakening influence in stocks. It had its effects in bonds, especially in the United States Government issues, which were uniformly lower, the Lib- erties as a group losing more ground than on any day in some time. Call money was not affected, but time loans for the short dates were somewhat firmer. In the longer time loans covering periods from four to six months, the rise of the last month had anticipated the action of the re- serve bank. GENERAL MOTORS WINS. Eclipsed Record of United States Steel by Dividend. NEW YORK, August 13 (#).—The prosperity of the General Motors Cor- poration, which has placed it at the top of the count industrial enter- prises on the basis of share capital, enabled it to eclipse the earnings of the United States Steel Corporation for the first time, and enriched its stockholders by the declaration of a 50 per cent stock dividend, has been one of the outstanding financial acheivements of recent years. Founded by Willlam C. Durant in 1908, the General Motors Corporation has twice been removed from his leadership, and is now under the con- trol of the du Pont family and bank- Ing interests headed by J. P. Morgan & Co. Originally incorporated in New Jersey, the company was reorganized in 1916 through the formation of the present General Motors Corporation of Delaware. Alfred P. Sloan, jr., has been president since 1922, DAIRY PRODUCTS MARKET. NEW YORK, August 13 (#).—Live poultry irregular. Brollers, by freight, 26a29: do, by express, 23a32; fowls, by freight, 22a26. Dressed poultry weak. frozen, 44a58. ‘Turkeys, ——e Washington Stock E;change SALES Pot. Elec. 1st 5s—%$1.000 at 1008, . Warn Bas & Bloe. 4n o oo o4 8315, bty e €0 SO T4 Natl. Mtge. ny. [ —5 3 8% 80 2t i, 80 A ki 00 % 0%. soat CALL. AFTE Pot. Elec. pfd —10 at 108%. 10 at 1083 ap pash. Ry, & Elec. ptd.—10 475 %6 Wash. Loan & Trust Co.—1 Wash: Ruy: & Elee pid —80 xt 91, Continental ‘Trust ¢ 0 at o {}yn_r:l 8 onal 3 2 at 458 apital Traction Co.—40 at 104, Wah Rwy. & Elec. prdo—io st o1, Money—Call loans 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 4 Amer. Tel, & Telga. 4 Am. Tel. & Tel. ctl ‘Anacostia & Pot. R._ Pot. Guar. s . Telephono ox. Tel. of Va. 5 Traction R A5 = ceZzon SEZTCEE Potomac Potomac Poton; e i Pot. El. Pow Wash.. Alex. Washl Alex Wash.. Bait. & Washington' G Washington Gas Wash. Rwy. Wash. RwY. loc 4 & Elec. gen. 62 MISCELLANEOUS. Chestnut Farms Dairy flas. D. C. Paper Co. Mfg. 0s Pot. Joint, Stock L'd BK. 3s | Soutnern Bidx. 63e.. ... | Wash. Mkt Cold Storage’ 5s. | Wardman Park Hotel btas STOCKS. PUBLIC UTILITY American Tel. & Telga. Capital Traction. . . Yo" wa Norfo n Potomac Elec. pi Potomac Waeh. Rwy Wash, RW5, " Steambost & Elec. com & Elec. pfd. National Capital.. Enlumhm 55 ‘ommercial District Farmers & Federal-Anier Lincoln Nationul Rikee National Bank of Washington TRUST COMPANY. American Securits & Trust. . A inental Trust ........ erchants’ v v % SAVINGS BANK ommerce & Saving: 23 a3 - 868 80 Com FIRE INSURANCE o 2 > Amertcan Coreoran Firemen's National 12195 8283 Union 3 TITLE INSURANCE. Columbia Title.. .. 1 Estate Title... Bide &hs. Co. ot 3 MISCELLANEOUS. D. C. Paper pfd.. . . e Federal $ oo S Storage g > 110 Merchante Trans. & Storage. Merchante’ Tran. & Stor. pid. zenthaler Linotype Natl, M. & Invest. pfd Peoples Drug Storés . Lanston Monotype Speanty | Stapaee.. - ashinktor : x dividend s au05 Somcm BRARmI2ene @ Unlisted Department. These securities not rule: BONDS Army and Nav Cosmos Club 4338 City Club 78. ... Metropolitan Cf Christian Henrich Brewery | Departmental Bank........ District Titie Ine. Co ... Franklin_Nationa! Bank. Munsey Trust Co. . North- Capitol Savines ortheast. Savings Bagk ark Savings Bank Potomac_Savings Bank Relelen Hotel 0. hington 'me*g% Alien Ban Lifting Asked in Favor of Expert Hair Bobber Importation of ‘an ‘expert bob- ber”” who is claimed to be able to transcend the best efforts of the domestic tonsorial artists has been sought by a Washington beauty shop. The proprietor of the es- tablishment has appealed to Com- missioner Thomas B. R. Mudd of Baltimore for permission for the foreign haircutter to enter the United States without regard to the quota lawa. At the Department of Labor officials have no record of the cage, now in the hands of Mr. Mudd. The name of the shop and that of the proprietor were not revealed. SULTAN’S WIDOWS WANT TO RETURN TO TURKEY Four Women’s Petitions Received With Mocking in Press—One .Is Young Albanian. By the Associated Pre CONSTANTINOPLE, August 13. Gen. Ismed Pasha, as president of the Turkish cabinet, is considering an application of the four legitimate wives of the late Sultan Mohammed VI for permission to return to their homeland, whence they fled with their master in 1922 when the Kemalists dethroned him. ‘The widows are now at San Reno, Italy, where the Sultan died. The youngest is an Albanian beauty, the daughter of the Yildiz Palace gardener. She was 17 when she was married to the Sultan in 1921. The three other widows are of pretty Circassian types The widows’ pleas have been re- celved with mocking in the Turkish papers. One of the papers says, “Since they preferred to follow the traitor to remaining loyal to Turkey, they ought to be punished by being obliged to follow their master to his last resting place and remaining be- side him to their end. The late Sultan is buried in” Damascus. TWO KILLED IN RAID. Constable and Alleged Moonshiner Slain—Two Others Wounded. WINEGAR, Wis., August 13 (®).— George Rutherford, constable, and William Stanley, were killed late last night when county officials raided a moonshine plant run by Stanley and two others near here. George Brandenburg, another alleged moon- shiner, and a deputy, were wounded. Brandenburg is still at large, but Charles Borhn, also found at the still, is in jail. Special Dispatch to The Star. NEW YORK, August 13.—The cot ton goods market continded quiet to- day, with print cloths unchanged at cents for 64x60s and 83 cents for 63x72s. Raw silks were steady. BANK CLEARINGS. Special Dispatch to The Star. NRW YORK, August 13.—New York bani“- clearings, $843,000,000. New York bank balances, $83,000,000. New York Federal Reserve Bank credits, $74,000,000. Boston bank clearings, $79,000,000. P FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks old value. _today. London, pound......$$.8005 $4.86 Montreal. dollar. .1 190 © DUl Parls. franc. .. A (] Brussels, franc.’. Berlin, fark. Rome lira. S oonne: Vienna. crown. Budapest. crow Prague. crown. v . aloty . isisiobsisbuisieisioi S Oslo, crown Stockholm, TREASURY CERTIFICATES. crown . ..) s SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) ——Noon—~ =) e R==soESSERBNAGEERES Adirond. P. & L. C. 8a 1020, Alum. Co. of Amer. 7s 1 ‘Amer; Beet Sugar 6s 193 & SR ERREa: 3r35e333s20s FEITRRRERR ¥ EE I SIS PSR RS rooposcoconT 2335533 e L ooy o o b i e bbb EETEREEAEE FEN NUERTISIE ¥ P O S Tel. & Tel. Co. 48 1920, altimore & Ohio 68 1099, Chi St s y Bs 1934 s L)ol’,IE Bl it bs Federated Metals Great Northern 7s 1030 4 58 1927, oraaly G Ol P C. o 1028 ) . Be Union ¢ '1! | Western Union 8 1936 . Al Anaconda Coppér 08 1020 ethlehem Steel Bs 1936 p City ans X i & E A 0 101 'ishe Cor) gt St g . Lo 1038 Guif 0il Co Bt 19 i 30 New Sinclalr C. Tnion Pac. R. R, C. Westinghouse E.&M. 78 1031 Assoclated “Oil 05 Central of Georgia 6s 10! Contral of Gearsls, g Columb. G Contiental 78 193 §u 1884 Goodyear G, OB 1 MOBL P &8 SN 6has 1031 . R, Ce regon Short 174"19 48 1 8 . Bs 1 i, &0 Bl . S. Rubber 78‘: - BhSzocs>0523! F=S325333333 groszeS3azcos o) et GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) 101418, 11d8do 117556 Gt (w In) be -18. X . fi:’;nbl'lrl 4128 1010... ID0.0R 100.00 (Quoted indoljare pér thousaids marks.) Ger Gen Elsc. 435s pre-w. 2200 24:00 fi"} Gen‘ Eltrel"’“? 16819 .. 2 X erlin_4s pre-war. : Hamb du. I & 48 Hamburg Amer Line North German Lioyd e e 4738, . orth German Liovd. .. Prussian Consols 3%e. . Krupp 8s 1821......... Duseeldorf 4s pre-war Frankfort 48 pre-war Munich 48 pre-w, ceen REGaor oy B Commerz and PrF at Bank Disconto Gellschaft . Dresdner Dank. .. Ee\!lk’he Bank. . . armstaedter Hank. ... Mercur Bank Vienna Heyden Chemteal .. ... Aust A E G (Gen Elec) Berliner Handels. . o0 533353532 = smisouowd SrEr AR EReConR S 3350008 3333333 8 > ADVANCE IS SHOWN IN COTTON MARKET Firmer Liverpool Cables and Optimism in British Coal Strike Help Buying. By the Associated Pre: NEW YORK, August 13.—Cotton futures opened firm; October, 16.48;! December, 16.80; January, 16.3 March, 16.48; May, 16.73. The cotton market opened firm at an advance of 16 to 24 points on firm- er Liverpool cables, reports of better prospects for a settlement of the British coal strike, reiterated reports of increasing insect activity in the South and covering by shorts. A little trade or investment buying may also have contributed to the advance, which carried prices up to 16.48 for October and 16.41 for January during the first few minutes, or 21 to 27 points net higher. There was reselling by some of yesterday’'s buyers at the higher prices, however, while there also seemed to be some selling by South- ern spot interests, and as soon as the initfal demand had been supplied prices eased off some 9 or 10 points from the best, with the market rather unsettled at the end of the first half hour. New Orleans Market. NEW ORLEANS, August 13 (®.— Cotton futures opened steady; October, 16.20; December, 16.06; January, 16.0° March, 16.23 bid; May, 16.33 3 Favorable Liverpool cables and en- couraging news concerning the Brit- ish coal strike caused prices in the cotton market here today to improve after the opening. October traded at 16.34, December 16.20 and January to 16.13, or 13 to 17 points above vester. day’s close. The opening was steady, with first trades showing 2 to 8 points gain. Toward the end of the first hour the market was easier, with prices be- low the opening figures. _———— BOURSE PRICES IRREGULAR. PARIS, August 13 (#).—Prices moved irregularly on the Bourse to- day. Three per cent rentes 49 francs 80 centimes. Exchange on London 177 francs 60 centimes. Five per cent loan 53 francs 40 centimes. The dollar was quoted at 36 francs 55 centimes. TOBACCO EARNINGS $1,178,411. NEW YORK. August 13 (#).—Earn- ings of the American Sumatra To. bacco Co. for the 11 months ended June 30 are reported by the company as $1,178,411, after 'expenses, taxes, recelvers’ fees, etc. This equals to $5.79 a_share on the common stock. 8ince June 30 a reorganization taken place and assets were tran ferred to the successor corporation, the American Sumatra Tobacco Cor- poration. The new company has no funded debt. STOCK MAY BE SPLIT. NEW YORK, August 13 (P).— The Pacific Gas and Electric Corporation has called a meeting of steckholders for October 11 to vote on a proposed four for one split-up of the common stock, the elimination of the original $100,000 preferred stock and a cor- responding increase in the first pre- ferred issue. MORE DEMAND FOR WOOL. Special Dispatch to The Star. BOSTON, August 13.—Fair volumes of medium and fine wools were moved in the local market today, reflecting improved demand from top makers and slightly increased inquiry from mills. Fine French combing wool sold at 1.00a1.05. Fine staple terri tory Montana wool moved at about 112 and Ohfo fleece wools around 1.10a1.12. Three-eighths blood wool of Montana quality was active around 90 cents, clean basis. 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? WE FINANCE ~an clftses of income-producing property Large Loans a Specialty Current int. rate and commissiop Higbie & Richardson, Inc. 816 15th St. N.W. F% CdNSTRUCTION v LOANS D. C. and Montgomery Co. FRED T. NESBIT 1010 Vermont Ave.. M. 9392 We Buy&Sel[ Unlisted Stocks &Bonds Mehiman ¢ co FINANCIAL. Real Estate Loans Maryland—Virginia District of Columbia The Capital Realty Co., Insurance Bldg.. 15th and Eve in 9245 Stocks 0dd Lots Carried on Margin Buck & Company ~—~BROKERS— Established 1916 312 Evans Building 1420 N. Y. Ave. N.W. Tel. Franklin 7300 Direct Private Wires to New York ‘!nc. | Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission, L. & Trost Joseph 1. Welle: : ANNOUNCEMENT Under amicable mu- tual agreement, Mr. John R. Kirkwood has severed his relationship with this office, and we have trans- ferred to him our rental business and our marine insurance business. Tyler & Rutherford, Inc. Equitable Co-Operative Building Ass'n JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary Organized 1879 Assets . ...$5,136,31722 Surplus ........ Subscriptions for the 91st Issue of Stock Being Rec 46th YEAR COMPLETED oo .$1,406,495.76 ed THE VALUE OF SHARES -$2.50 PER MONTH America. 713 1ith St NW, old age. open a Saving and The Man or Woman who saves every- thing never gets any enjoyment out of life; likewise, those who spend everything have nothing left to take care of them in their Our advice is—spend a little, as you go along, and enjoy life; BUT—also SAVE something every pay day, and you won't have to worry in your latter days. The BEST way to really SAVE SAVINGS Second National Bank “The Bank of Utmost Service” 509 Seventh Street N.W. 1333 G Street N.W. SYSTEMATIC SAVING —in the Equitable can readily be scen by the fact that hundreds substantial steads and saved money for their chil- dren’s higher cducation join with these happy systematic savers? You'll be thankiul a few 915 F Street built up home- have fortunes, acquired Why not you cars hence. A Familiar Phrase “As good as a First Mortgage Note” How much that implies— SAFE—Secured by Improved Real Estate. DEPENDABLE—Real Estate in Washing- the C‘apital City of the United States of REMUNERATIVE—Never in the history of our Investment Business has any client of ours ever lost a penny in either prin- cipal or interest. rate of return is— 1 6"2% Mortgage Investment Department HANNON: & LUCH The present annual Main 2335 pending is to here. ACCOUNT We Will Loan at 5} % Economic Conditions Tyler & Rutherford Loan Correspondent of the Mutual Benefit Life Ins. Co. Newark, N. J. 1018 Vermont Ave. M. 475 The New York Life Insurance Co. Offers to Make First Mortgage Loans On Improved Real Eitate in the D trict of Columbia and Nearby Suburbs in Montgomery County, FOR 3, 5 OR 10 Maryland YEAR PERIODS Bertoen Propertes 51/2% R "Bulietoss ON APPROVED SECURITY Apply RANDALL H. HAGNER & COMPANY MORTGAGE Loan 1321 Connecticut Avenue GORRESPONDENT Telgghone Main 9700 A Third Our of a Century Without a Loss estate. Main 2100 6%% FIRST MORTGAGES —pay investors a good rate of conservative interest regularly. They give the dependable prin- ' cipal protection of conserva- tively appraised, desirable real THE EXCESS PROFIT TAX Excess profit—too high in- terest—taxes your principal in investment. which promises abnormal re- turns generally lacks in provid- ing absolute protection for the funds you may intrust to it. The security