Evening Star Newspaper, August 18, 1926, Page 27

NEW Received by Private Wire ! | | i BY WILLIAM F. HEFFERNAN. PROSPERTY GOES | market today went through one of the | dullest sessions that has been experi- enced during the past three weeks. | Unsettlement on the Stock Exchange | went a long way toward halting any {attempt which might have been made to work for higher prices and the | Reneral tendency was to offer stocks | whenever bids came into the market — - ]al"ns prevailing levels. C SR { It was a market almost devoid of 5 |features. the volume of business fall- to The Star. | Ing off substantially in the absence NEW YORK. August 18.—The real, of any fresh incentive to renew opera- estate market throughout the country ) tions on either side. Fractional de- is quieter todar than it was a month | clines were the rule in the oil group, ago—and, like many people who haw,hul those who have been carrying taken similar courses during the hot {this clas of stock with the hope that spell, ts fecling better in consequence. | they eventually would reflect the im- Activity. ‘however, is fully apparent.!proved condition in the industry were Reports of transfers and conveyances et from typical centers show that the | NEW YORK. August 18.—Following real estate business done sn far this|is an official list of bonds and stocks vear has run over 3 per cent higher | traded in on the New York Curb Mar- than for the corresponding period of | ket today: 1225 | sales in Building activity is holding strong. i hundreds but it 18 noticeable that the trend ini ¥4 the larger citfes is away from apart- | ment and hotel construction and to- ' ward industrial building. The volume ! of bullding and of real estate trading | in the suburban and rural sections has been increasing rather than ‘di minishing. Tt is natural that the resort develop ment# should he especially active at this Ume of vear and this is the case at present. But the activity is far healthier and less hectic and fever. ish than it was last vear or even a month ago. Hundreds of millions of | dollars are being spent in all parts| of the country in developing :uhm'!mn‘ and resort property. This trend noticeable from the Gulf of Mexico on the south to the most northern | Minnesota. Maine, Montana and{ Washington lakes. i Water Sites Sought. » Sites with water fronts have been in demand from one end of the coun try to the other. Such property has jumped in value in conformity with the demand and the advances in many | cases have heen sustained by pro. | grams of development. Millions of dollars have been spent on golf oourses alone, for the hold which that game has taken on the American public has done as much as any one thing to promote suburban and resort development. ! Not everybody who has engaged in real. estate transactions has made money. Thousands have lost it. This Aoes not mean. however, that “the | bsom 1s busted” in any particular loca tion, or that real estate is due for a pe riod of “innocuous desuetude.” Many purchasers who had their sights raised for quick profits and easy monex vio- lated all the principles of real estate investment and lost heavily in conse quence. They failed to look to the future and to discover how certain plans for improvement were to he ex tended and maintained. Many bought on the installment plan with only vague ideas as to where the installments were to come from and found nobody to take their interest in the property off their hands. Some who hought for a quick return forgot that the very man who promoted the development and sold | them the property was necessarily competitor until all the developmen Iots had been disposed of. Many, however. who bhought property and homes on instaliments have found fn | euch purchasers both profit and satis- | fection | High Pressure Men Gone. The voice of the real estate sales. man is by no means stilled. but the “high pressure” salesman, who drop- | pad honeyed words while a violinist played at his elbow to inspire him has dropped out of sight. The effort has baen to put sales on a business, not a sentimental or emotional bhasis. With that idea In view, many college grad. | ustes have been pressed into service | as salesmen this Summer. This has not always been productive of results. according to one large operator here. In the last year he has emploved 101 college men from 12,institutions. One | man made $10.100 in commission the average for all amounted to $) a day. The man who earned the | $10.000 *worked part of his way| through gollege and knew no one in New York. His employer expects him to make $15.000 this year | Residential rents in most sections are now well stabilized. Canadian | rents are increasing as are real estate setivity and buflding construction in the dominion “High-Pressure” Man, How- ever, Has Disappeared Frqm Picture. BY Spectal Dispatc INDUSTRIALS High P B A pfa T Seating vic Superpow B | I Py 322 D 0D A DIIREIIIDD mtrismes o o is 125 as, BR5 55 (Y Aol GEE pfd Wi | 108 Commw P C nw o omm P "Bl 0 Comm ar FEPRE IO PSS - £ et L] D panisa—izD! PP AP Schbct D PUCE e S~ e sl 3 2paDi8> FOESTEeET & 2323 ST s EEA 2 Continen Bak nig 7 Continen [ i Gontl Tah Tne 18Da For R € vie 3 Dink] Hot A w w 2 Doeller Die €_C. i Dubilier C & R ) Dunhill 1l 1 32 Durant Mot ADupo De N 0w b 5 iz = P et i 2Gilletts S R A Glen “Alden Coal 13 ; Good Tire & Rub Knsato 1 Land _C Bron ... .0 1Mot Chain’ Stor 38 '3 Mid Uul pr lien 117 h Hud Pow . 2 t i Ve Fae i 2 e 220920 PR o EERE T et P et 3Dt Nor Tox B} 1 Pac Stl 531]2". Penn Ohio_ Sec Fenn Wy Pow € 1g ', Phelb Dodse Cor 134 1 £ 13 o £ 188 13 Proct & Gamble. Brugep et 18 ad 2 TEL IS 1 Purity Bak 4 3 Puritv_Bak B 13 Rand Kard Bur n ¥ i3 widnsanboting Sas33) : & T AN SR Ik S fotet et O LS 23z P & L ne Son P & L. p ptd Sou P & L'war FEEELTEEEE 0% 1 400 Fruit and Vegetable Prices. Apples—Supplies liberal: bushel | baskets, Maryvland and Virginia, van- | ous varictfes, 75a1.00; few high as 1.25 Cantaloupes—Supplies moderate. de mand moderate, market steady: North | Carolina, standards, 36s and 1ds. Green meats, 1.50a2.00. few high as 225 Homegrowns mostly supplying | SALES. ‘raction Co.—10 at 103% . 2 at 37010 a1°103%. 10 at 104. & at’ 108 Washington Rwr. & Elac. pfd.—7 at 01, Lanaton Monnlypa—10 at #8 Mergenthaler Linotpe—s ar 108% . AFTER CALL Peoplas Drug Store pfd.—10 at 105, Capital Traction Co.—10 at 104 Money—Call loans, 3 per cent iand 0 ‘per Bid and Asked Prices. BONDS. PUBLIC UTILITY Capital T 10; I the market { Grapes—Homegrowns, suppiving the market. Lettuce —Supplies lighi: demand moderate, market steady: New Yo 2.dnzen crates, hig Boston tipe, 1 Onfone—Supplies light. demand | light, market steadyv: Massachusetts 100.pound sacks Yellows, 2.2 Peaches—Supplies moderate: de mand moderate, market steady: | Georgia and North Carolina. bhushel | baskets Elbertas, large to very large | 00 best, mostly . sixes Belles. larze : bushel baskets, Hiley 225 half-bushel bhoxes, large size, | high color. 1.40. bushel baskets, ' Champion, medium to large size, 15082.00; ~ bushel baskets Reeves, | Wacn. Ruv large size. 2.25a2.30. Marvland, | Wash. Ry bushel baskets Carmans. small size, Cpegtagt Fa D C 'aper. Amar Tel- & Telga ¢a. . Amer_Tel & Telga. $'as |Am_Tel & Tel ctl_tr. Anacostia & Pot. R. R. Anacottis & Pot. giar.’ & D Teleonorie o8, . & P Te. of VA 88" apital Traction R, R. 88 Ser3es 3! 25303355 & ke SN 5 WNE sizes 00 few 3¢ & ooy £L0; Washingtot R85 Gan 5 Gaa 8e 3 a'Flec. 48 & jec. gen. Bs. MISCELLANEOUS. s Dairy 8%s. 101 | Bt sbnmeSiou £ BX. a0, 107 | Pot. “Joint. Stoc 5. | ouinery ‘i 10} wardman el STOCKS. POBLIC UTILITY. merican Tel. & Telga.. Diial Traction 2 wash & Flec; Bt cif 3 : Elec; int. W s Elec. | Wash. Ruy. & Eiec. pfd. | NATIONAL BANK demand 150-pound No. 1. hest, ppites light moderate. market steady eacks Cobblers, U. & mostly 4.25; few higher Sweet Potatoes—Suppltes light demand moderate, market dull North Carolina, cloth-top stave har- rels. vellows, 6.00a650. few 7.00; red varieties and white yams, 5.00. | Watermelons—Supplies ~ light: de. mand limited. market steady. Vir- ginia, bulk, per 100 melons, Tom Wat cons and Excells, selects. 30.00240.00 50.00: primes, 15.00a20.00; no car- ! ol a eamboat. | Washington Stock Exchange Direct to The Star Office’ not disposed to throw them over hur- riedl; 'l'hya public utilities generally were dewn from small fractions to a half point, Southeastern Power and Light. Lehigh Power and United Gas and Improvement sharing in the reaction. The decline in American Super Power class B extended to a point, but this was an exception. Declaration of a regular quarterly dividend of 25 cents a share by direc- tors of Pacific Steel Boiler Corpora- tion, with the accompanying earnings statement for the first six months, showing 77 cents a share earned on the 160,504 shares outstanding. was gratifying to stockholders, but because of the small floating supply of stock this was not reflected in the market. With the new plant about to com- mence operations it {s estimated that earnings for the full yvear will amount to approximately $2. 2 Stanles Co new .. 13 nles Co ne: 3t 7 Swif & L B 3iaran L3 .... G uasiniasm F332333835mea85-3050852 > 5 G k2 o S —=iama393. 1 Py ey LS e g Sums=e3e o o aeZenle et 53503355350 3x85-3258852 2328333033030 353252852 P e e alen N SMEr e, MINTNG STOCKS 10 Calumet & Jarom 3 rd F Fureka Crosul Falcon Tead Firet Thoue G M & Goldsn Can M 30 Hawthorne M 1 2 Facla 20 Kav Cop Cor 1 Kerr Take 23 =3 B ate232u03 Pde £ & ¥ 208 10 = 225 B L CE L bt F I et £ et Fa - D3 S g Y RnAnIRHS i FEEE 15 v i o mamd Py RaBaaBa- RO TSPt - PO 2002 & FERET & F S = in ons Rovalties n lo S¥n own Cent Pete nén Bisisn s 2a=TR DRI RS RA= & FRAR FSE SRS FRa 5P & FEE £ F 3,523 » it 13, A Smaras e 3 5 B S Hs DB 5 B D B ED BN 3 o S3mm3uat 13 ey Bgadtord P 7 o FREETE X i Ohio Fuel Corp.. Pandem Oil ... wn ae Lo A EEEPED TR EE TR P S 3 Dismy B PPt S5 oi9me PREEITEL o PRAEESSE Sales STANDARD OIL 1881 in units High 100 Buckese P. L 700 Continent 0 50 Eureka P L 10Gal § O ot £00 Humhle Ol & 0T P T 1000 Imp 0" of © ,300Ind P 1 UES ] 108 O Ohio 100 Vacuum Oil. a2 2PERE25533323883 TR 23532833 T SRS PR o2 Peete3o P ER I B S DEO-woT112 3030 BRRRL325233332823 2 S % 081 S Man Do Blas A 081 @ Mans G 3 1 Det Cits 235 Duke Pr P s A SE'T of Big 64w ? Flat .7 14 Fla P A . [Ty 25 2332223253833233322 v s Ed s in St 0y A A Few @ S t ITRI292973 & T g 3% @ 2362332323525 230 Sehuleo Tna Schalie 20 2 Sati 50T CEES S ES e = 4 22 RR5R328 TR RRR22035E 3 3 Antioqua 6 Baden' 7a s lot sales reported. Corn—Supplies meoederate: demand moderate. market steady. homegrown, cacked. per dozen. sugar corn, 15a20. Gucumbera—Supplies light, demand light, market slightly stronger.. home. | grown. half-bushel hampers. 7321.00. Peas—No supplies on market. | Nauonal Cavital achanics’ ... Columbit ¢ 3 ora & M | Federal-Amencan herts tncoin Niitona! Sefdna R50Ra1 Bank of Wash TRUST COMPANY curity & Trust Metropolitan. . NEW YORK BANK CLEARINGS. Special Dispatch to The Star VEW YORK. August 15 —New York bank clearings, $816.000.000 New York bank balances, $53.000.000: New TYork Federal reserve hank credits, $86,000,000 . DIVIDENDS. Parind_Rate Q 7 American St ontmental erchanty. k. Ravini i &- i t Wash _Loan & Trusi.. SAVINGS BANK Py 1305 e oo i3 1y PRt g | tock of record Sept17 | | Sept 1 Sept 13 | Par anle - FIRE INSURANC! Oct 1 e - Borg & Beek Boat FeeForen Rub Co American orcoran Satema vaton: ety TITLE INSURANCI 'T = Sept 13 50 § Higow o slumbis eal g itle Ton £ Intenm 10d e y SR e Title n§ 7 Co. of Md. com. 5 MISCELLANEOUS. otd. . ge pid. K Frans. & Storai nta’ Tran. & Stor. vld TR ge & Inv ‘s Drug Stores ptd Peopie’s { Lanston Moneiype. Wadkiareon Matxat Sept Oct Nov 5 at = oy | ins. Crumble Stcel pf 3 Equitahle Trust Q Eraft (;B-ue i Aeteldwrn D uonal Surete T&T l"“ (22 PIEAE un Hambure £ 7 Indt M B Bin 7e Tieeder SH © s 322332353333332222 LEFEEELEREE SR iz N 3223 FIESRS ] 25 2 2% = e e P97 Ct4 — ppet ¥ £l v @ 2, i y o i1 - m 3 3. 35 7 Fan o = €28 188 Tn Stl 8 Wenr 't *Ex-dividend ey = Toad Market for Snakc: The town of Harper, down in Kan- mas, has a rather unusual industry in local toad market. animals are bought and sold daily and delivered at 2 cents apiece. The de- mand: is created by the Len Laird snake farm, near Harper, where thousands of the reptiles are handled annually, some shipments going as far as France. Laird keeps the rep in a silo as a side line, as he is & proeperous wheat and stock farmer s wall . (than double dividend requirements. Hundreds of the | GRAIN PIT SIGNALS | WILD BUT EFFIOENT Waving Arms Replace Tiring Throats as Sales Speed Into Millions. By the Amociated Press. CHICAGO, Auguwt 18.—Tn wes the Roman salute given in afl its classic perfection, visit the CThicago Board of Trade. On an exeiting day the crowds of brokers in thw wheat pit really outdn the Fascisti. Especially of late. with wheat prices whirling wildlr. tourists in Chicago seem never to tire of the picturesque spectacie of a forest of waving arms thrust skywarfl om ‘change. The lifeand.-death earnestness of | the action appears all the more fasci- nating because of strdnge accompany- ing gestures. Their significance s rarely understood by outsiders, but everr detail s full of meaning—an indispensable @eaf-and-dumb language of the grain trade. Business in Millions. The whole bizarre pantomime— however much it may. ressmbls a salute to Mussolini—is .demonstrated by experience to be the best method yet devised for transacting like a flash business that runs dafly far up inte millions of bushels.” The eager oblique upward stretch of the right arm of each of the mul titude of brokers standing tip-tre in the trading pit, wignifies not mersly that he is striving to buy er sell, but also. expresses in exact form the defi- nite amount and the .actual .intended price. Where evervbody is shouting. even the best jungs have their limit, and something mors is needed. Whole Hand, 25,000 Bushels. The devica s simplicity itself-a sign manual in which the whole hand displayed vertically means 25000} Lushels, each finxer counting as 5.000 bushels. Price in even centr is In- dicated hy the clenched fist, held horizontally. FEach horizontal finger separately extended represents en added eight of a cent up to five wighths. The extended hand entirely with the fingers horizontal, dut close :gether, means three-quarters, and the thumb raised separatsly i3 a sig-{ nal for ssven-e'ghtha. Whether the | grain is offered or being bid for ix shown by a slight motion of the hand 0 or from the trader himself. Grotesque as the system may look. the signaling not only cinses contracts invelving' millions. but alse instantly enables the offic: TEPOrters every Toment to note a‘ a glance the actual price of grain—the price transmitted from Chicago to all the markets of the world. | MERCHANTS AND MINERS’ DOING RECORD BUSINESS Sparial Dispatch 1o The Star BALTIMORE., August 18 —The Merchants and Miners' Transportation Co. is handling record passenger traf- fio northbound out of all ports it ‘serves. FEarnings for the first seven mmonths this vear, while ‘not as large ‘as they were for the corresponding perind in 1925, when the Florida land hoom was ir full swing: are more 1 The steamer Fuirfax, last of the trio of vessels built, will go into com- mission on September 7 or 14. mak-| ing_her initial trip from Baltimore | to_Boston. ¢ The Chatham and Dorchester are now in service. the former on the Baltimore-Boston route and the latter |on the Philadelphia-Boston routs. In the Fail all the vessels will he piaced in the Florida service as will be the Alleghany and Berkshire. MORE WHEAT EXPECTED. | ; | Farmers . to Sow 14.4 Per Cent | Greater Crop This Fall. Says Report Farmers are intending to sow this Fall an acreage of Winter wheat 14.4 | per cent greater than sown last Fall. which would mean a total area of 45,064.000 acres. or about 4 per cent more than shown by intentions a vear ago, the Department of Agriculture announced today after a canvass August 1 of the wheat belt. If average annual. abandonment should occur this Winter it uld leave from the intended sowings about 39,274,000 acres for harvest next Sum- mer, compared with 36,700,000 acres of Winter wheat left for harvest this year. an Increase of 7 per cent. Intended sowings of rve shew an increase of 17.4 per .cent over the area sown last year, SUGAR DIVIDEND LOWER. NEW TORK. August. 18 (#).—Dt. rectors of the Cuban American Sugar Co. today declared a. quarterly divi dend of 256 cents a share on the com-. mon stock, which previously had been 50 cents.. The ragular quarterly of $1.75 on the preferred was authorized. Both ars pavable October 1 to stock- !hclder! of record September . AT 1 COTONISFRM | ON RAN REPORT Market Opens at Advance as/ Showers Continue and Dam- age Is Announced. By the Associated Prose. NEW YTORK, August I5.—Cotton | futures opened firm: October, 16.88: | December. 18.85; anuary, 16.89:. March, 17.10: May. 17.27 H The cotton market opened firm to- | day at an advance of § to 13 points | on reports of further rains or &how- | ‘ers in the South, continued complaints of insect damage and the firmer ruling of Liverpool combined with reports of better prospects of a wettlement of the British coal strike. Consider. able realizing developed with some southern sefling up to 16.92 and Jan- uary to 16.84, or about 12 to 17 points net higher. Private cables said the advance in Liverpool was due ta local and Lon- don buying and reported a fair de- mand for cotton cloths from South America. but that China advices were discouraging. New Orieans Market. NETW ORLEANS. August 18 (P).— Cotton futures qpened steady. Ot tober. 16.94: December. 16.84: Janu- ary, 1683, March, 16.95; May. 17.08 4. First trades in the cotton Tnarket | tha, FINANC A Fool and His The fart that a stock te fx printed in fancy green scrollwork ix no proof that it is worth any more n ordinary wall paper. nas of people in Washington would have saved their money if they simply had asked their banker to tell them what he knew of some supposedly wonder- ful investment Money to first deed of trust on . Jorg b alar SR VBT an F StN'W- Receiv TAL. | Jocan Temwne w0 Tccuien Coupary L ST i T | of Two Dnlbuqmm:y ve ! Cents ($2.25) per share will be paid on October 15, 1926, to stockholders of record at the close of business on September 20, 1926. H. BLAIR-SMITH, Treasurer. Cities Service Company & 803 Wilkins Bldg. Main 6189 e 612% From your savings or surplus funds judiciously invested in selected FIRST MORTGAGE NOTES secured by twice their face value in Washington real estate. and upwards. Convenient amounts of $100 | SETS HIGH-YIELD RECORD {which is the largest sast of the M: WIRED STAR FROM ENTIRE COUNTRY ' BOSTON, August 18.—Low volatile | bituminous coal is quoted around ! $6.25 a ton. Boston, as against $5.25 a_month ago. This refiects the effect of the British strike on the local mar- | ket. Canada. South America and| other countries are taking low vola- | tile bituminous coal in place of Brit; | ish coul. KANSAS CIT ndependent pro- ducers are preparing to organize a co-operative body to handle the mar- keting of surplus petroleum products abremd. owimg tn the fact that local | pro@ucers Teel they are losing much ; foreign business through inadeguate representation. SACRAMENTO, Calit.—A move. ment s on feot to organize the olive growers and packers Into A Stats- wide concern which will standardize crop and DAc! and aid to stabilize prices for olivé oil. The movement ix supported by the California Ofive As- wociation. PITTSBURGH.—Dsliveries nof oil country tubular goods are steadily mounting. Producers are having diff- culty in filling requirements six weeks in afivance. This vear will show a record production of tubular goods, according to mill executives. TORT WORTH.—Much damaged wheat and oats is now arrhving in this market. Smutty gTain is more plentiful than usual, owing ¢o the Tains prevalent during the growing senstn. Ahout 25 per cant »f the grain received here has some smut. PORTLAND. Oreg.—The mills of tha West Coast Lumbermen's Asso-|yere today showed gains of 16 to 23 | clation now are producing at the rate | nainie with the opening firm in sym- of about 105,000.000 feet & week. With pathy with better cables than sxpect new business aggregating over 101. 000,000 and shipments 104.700.000. ac- cording to latest reports. SUPERIOR, Wis.—The dema.d for jron ore has improved recently. and mine owners are hoping that naviga- tion will remain open to a late date. anticipating & record year if cold weather is delayed. FORT WORTH.--The Texar tur- key crop will be below normal thix vear, owing to depredations of wild animals in south Texas and the losses caused early last Spring by excessive wet weathe:. BUTTE. Mont.—John D. Ryan. chairman of the board of the Anacon- du Copper Company. declares he be- lleves the vnlume of business hers and ahroad is such that the market will absordb increased praduction of the Andes Copper and Chile Copper companies. which will he coming in next year at fair prices. KANSAR CTTY.—The influx of cat- tla from parched pasture lands in Kansas and Oklahoma has raised re- oaipts at this market to the high point of the year. Many cattls are being shipped to Texas pastures. CHICAGO.—Packing house business is improving gradually. with prices firm and the volume of trade increas- ing. Beef {8 moving with more life and fresh pork reffects an improved demand, with light cuts rending to- ward higher prices. Heavier kinds are steady. Pork business has picked up. gt Sperial Dispatch tn The Star BALTIMORE, August 1R.—Mary- land’'s 1928 wheat crop set a high rec- ord for the average vield per acre, sissippi River. aceording to John S. Dennes. agricultural statistician of the United States Department of Agri- cuiture for Marviand. This yvear's avarage vield was said by Mr. Dennes to be the largest in the 60 vears that crop statistics have been compiled by the Federal Gov- ernment. While the average vield was 22.6 hushels per acre, many farmers reported vields up to 55 bushels an acre. : Fistimated value of the Maryland whest crop was fixed at $13,079,000 by Mr. Dennee. The total crop was estimated at 12,181,000 bushels from a wheat acreage of about 539.9 ' Last vear's production was about 10,900,000 bushels. Mr. Dennee said, while the average production is about 9,657.000 bushels. July rains that resulted in some damage to wheat have aided the corn crop in Maryland. according to Mr. Dennee. who forecasted a production of 21,398,000 bushels this year. Last year's production was 25,560,000 bush- els. Corn ‘acreage 574.000 acres. The composite report for all Mary- land crops shows a_gain. however. an improvement of 12.9 per cent over Tast véar being reported by the de- partment. COTTON GOODS QUIET. . Special Miapateh to The Star. NEW VORK. August 1X.—The cot- ®n gonds market continued quiet to- Print cloth quotatfons wers un- changed at 7% cents for 64xf0s and 814 cents for 68x72s. Raw sflks con- tinued quiet. this year is about BOURSE PRICES IRREGULAR. PARIS. August 18 (#).—Prices moved irregularly on the Bourse to- Three per cent rerites, 49 francs 30 centimes. Exchange on London, 15_centimes. Five per cent loan, 54 francs 60 centimes. ‘The dollar was quoted at 34 francs 86 centime: WO0OL MARKET QUIETER. ROSTON. August. 18.—The wool market was lesa active today than at the start of the week, Manufacturers are taking & moderate volume of ma- terial as a result of the better tone in the goods market. hut the vacdtion season {8 now at its height and little activity is expected hefore Labor day. Inquiries now in the market center on territory wools, with fine French combing haif-blood and auarter-blood combings selling most ficeiy. Texas wools appear in best demand. R . BANANAS ARE SCARCE. Snee:0i Disvatch 10 The Star. BALTIMORE, August 15.—Bananas are scarce hers this week, only 48500 bunches arriving for the past week, against an average of over 100,000 bunches tfor the past few | week: . 169 francs two steamers arrived this ek, both from Jamaica, the steamer | Nicholas Cuneo. carrying bunches, and the steamer Joce, 2 RUBBER ADVANCES. | Special Dismaten tn The Star | NEW YORK. Auzust | rubber, smoked ribbed sheets, ad- | vanced 1» cent at toda¥'s noon quota- | tions of 39 cents: this compares with {00\4 cents & month ago and 78 cents |8 vear ago. RATLROAD 18 VALUED. The St. Louis and Hannibal Rall- road was finally valued by the Inter- state Commerce Commission at $1,- 906,770, as of June 30, 191 — BAR SILVER PRICES. NEW YORK. August 13 (®.—Bar aliver, 62; Im&“m % 18.—Crude | i EVERYMAN’S INVESTMENTS BY GEORGE T. AUGHES. Continuing the discussion of the points about new issues which are the most important to prospective in-. vestors, reference was made In the preceding article to the financial con dition of the company, new bonds of which are offered. This means the re. lation of current assets to current li- abilities. Current assets are those items which are readilv turned into cash or which are available for the dav-to. day business of the corporation. They include cash. marketabls securities, bilis recelveable and inventories. When the cash iterh is large it is of course favorable. Large inventories are not so regarded. Some companies, however. necessarily have more money tied up in inventories than others. There is a great difference among businesses in this respect. A { public utility or rallway does nnt have as large inventories as a motor !car concern. for instance. Now the sum total of these current assets should exceed the current liabil- ities and the larger the margin the better. The difference betwen the two is called working capital. Current liabilities consist of Interest accrued on bonds or notes. of bills pavable. of bank loans, of dividends due and pavable and various other items. Large bank loans are often necessary in a seasonal trade such as sugar production, but usually they !are regarded as cautionary signals. | A corporation which has eash enough or marketable securities enough to pay off all its current liabilities is in an exceptionally strong position and its_securities demand a high rating. Going back to the matter of earn- ings. there is no set rule as to how many times interest charges should be covered in order to6 assure reason- able safety. Twice over is usually ample margin: but more is desirable. A good deal depends upon the posi- tion of the security in the capitaliza- .| hearing September 21 at Omaha. The ed. Reports of general raine in the helt heiped the market to advance | further after the opening. with Oe- tober trading up tn 17.00; Decamber tn 16.92 and January to 1831, or 23 to 24_points above vesterday's close. Fealizing later in the first hour caused pricek to lese 11 to 12 points, but the tendency at the and of the hour was upward. The weather map indicated considerable rain over the eptire belt. | BIG TRADE FORESEEN. Baltimore Industria] Leaders Look for Heavy Volume. Spemal Dispatch to The Star BALTIMORE. August 1X—Indus trial leaders here predict that trade volume during the second half of the vear will exceed by a substantial mar- | Kin that of the corresponding period in 1325, which, it will be recalled, set | a record for all time. { Textiles are about the only line lag- | ging at the moment. and signs are not lacking that that industry is on the eve of sharing in the increasing activities of general business. For one thing. manufacturers realize that running mills at capacity when the market is not in position 1o ahsorh the output is a losing game. and they h‘uve taken steps to curtail produc- tion. The usual Midsummer curtailment of operations in general industry is absent this vear. As a matter of fact, many factories fn the Baltimore di trict are as busy as they generally are | at the peak of the season. RAILWAY HEARING SEPT. 21.| | Application of the Burlington for Authority to abandon its Chalco-Yutan cut-off was assigned by the TInter- state Commerce Commission today for Commission will ebraska Railway icipat We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of est. Should you have Money to Invest —we can also take care of you. Our experience, ex- tending over a period of Thirty-Five Years —insures your protection. Percy H. Russell Co. 926 15th St. N.W. Drive This New Packard 6 CONSTRUCTION LOANS - D. C. and Montgomery Co. FRED T. NESBIT 1010 Vermont Ave. . 9392 ompt Action First Mortgage Loans Rates of Intersst and Commission Lowest Thomas J. Fisher & Company, Inc. 738 15th_Ktreet inter- BOSSEEPHE FOTNDED 1007 1417 K Street LPS Main 9300 - Equitable Co-Operative Building Ass'n JOHN JOY EDSON, President WALTER S. PRATT. Ji., Secretary Organized 1878 46th YEAR COMPLETED .. ...$5,136317.22 Surplus $1,406,495.76 Subscriptions for the 91st Issue of Stock Being Received PRIV TITVeRes > THE VALUE OF SYSTEMATIC SAVING —in the Equitable can readily be seen by the fact that hundreds have built up substantial fortunes, acquired home- steads and saved money for their chil- dren’s higher education. Why not you join with these happy systematic savers? You'll be thankful a few years hence. 915 F Street More Dependable [ Apartment Profits —can often be enjoyed. Is your Apartment prop- erty paying you as fully and regularly asit should? Our Management experi- ence enables us to give owners and tenants the most satisfying service: we standardize vour profit. B. F. SAUL. ¢ Main 2100 925 15th St. The New York Life Insurance Co. Offers to Make First Mortgage Loans On Improved Real Egtate in the Dis- trict of Columbia and Nearby Suburbs m Montgomery County, Maryland FOR 3, 5 OR 10 YEAR PERIODS ON APPROVED SECURITY Apply FIRST MORTGAGES FOR SALE 6Y2% THE TYPE OF SECTRITY CONRERVATIVE, RS BUY of $250, $500, real estate situated in the District of Columbia. JAMES F. SHEA 643 Louisiana Ave. N.W. We Will Loan at 54 Economic Conditions Tyler & Rutherford Loan Correspondent of the Mutual Benefit Life Ins. Co. Newark, N. J. 1018 Vermont Ave. o, M. 475 | WE PAY MORE INTEREST | ON SAVINGS ACCOUNTS Than Any Other National Bank | in Washington | Interest on DAILY Balances ‘ Come in and let us explain Commercial Nat'l Bank tion of the company. Twice over is more when there are no prior liens than ft would be with a debenture bond outstanding & small total amount and preceded by a large mortgage il | I i l 13th and G Streets | Resources $17,000,000 Is GOLDEN DONALDSON. PRESIDENT | /o'l e RANDALL H. HAGNER & COMPANY MORTGAGE LoaAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 “Don’t limit the earning power of your surplus” ATHER invest vour Finances in First Mort- gage NOTES secured on Real Estate in the < Nation's Capital-—a fact that assures de. ‘ pendability and safety—and increases the annual earning power of each of your dollars to 61,9, Mowtgage [nzestment Depariment 1 713-15-17 14th St. N.W.