Evening Star Newspaper, December 15, 1926, Page 13

P from FINANCIAL. N TRADING DRAGGY INGENTER MARKET Fairly Large Shipments of | Live Turkeys Noted at Local Stalls Today. A draggy condition of the market Wwas reported this morning, a condi- tion expected at this season of the year when, a dealer , so many persons are living n hand ‘o mouth in order to buy their Christ mas turkeys. Conditions about the several mar- ket places this morning evidenced ihe advance guard of the Chrisimas holiday supply of turke; fairyl large shipments of the live "urkeys being on hand. Increased shipments are expected v to day until this time next week. Dressed Stock probably will start coming Sunday or Monday. A firm condition of the butte market continues, Chicago dealer: having reported a vesterday, and the egg n tinues weaker. Bulter were not affected hy crease in Chicago. Today's Wolesale Prices. Butter—Fancy, 1- pound prints, b, 58a59; store packed, 3S. Fresh, selected, 53; hennery, current receipts, 50a51: s con- ne P the 55a58: age, 38. Poultry chickens, a28; fowls, ducks, young, young, 60a7( Turkeys, 50z 47a48; smaller, 40a42; 28; keats, young, § rabbits, No. 1, 35a40 Meats—Beef, 15a17; lamb, 25a27; fresh shoulders, alive—Turkeys, 25; White_Leghorns, 16417 30a40. Dr fancy, heavy chickens, 27a old, 35a40; No. 2, 20a? veal, 2 hams, lions, smoked shoulders, 13; old, stock—Calves, choice, medium, 22; thin, 6a7: lamb, 13. Fruit and Vegetable Review. Today's market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural liberal; ., market stea Larrels, Penn- sylvania, No. 1, . 21 inches up, 3.50; boxes, Northwestern, medium to large rize, extra fancy Delicious, 3.00a3.50; extra fancy Spitzenburgs, 200a2.25, few higher; bushel baskets, Maryland and Virginia, No. 1, Sta mans, medium to large size, 7521.2 unclassified, medium to large size, 60. Cabbage—Supplies moderate; ~de- mand moderate, market fairly steady: New . York, bulk, per ton, Danish type, 35.00, few higher. Celery—Supplies moderate: demand moderate, market firm: New York, two-thirds crates, 2.50a2.75; ordinary condition low as 2.00; California, orates, large size, 5.00; medium size, 8 tuce—Supplies _ moderate: _de- mand moderate, market fairly steady: Florida, 13-bushel hampers hig Bo ton type, 2.00a2.25; few 2.50: Call- fornia crates, iceberg tvne, ('e!\(rfl! Alstrict, 45 dozen, 3.5024.00; few 4.25; Imperial Valley, 4-5 dozen, 4.00a4.25. demand | | BY WILLIAM F. HEFFERNAN. NEW YORK, December 15.—On a volume of transactions that still re- mained around the 350,000-shara level | operations for the rise continued io { be carried on quictly in the curb trad- |ing today. But as has been the pro- cedlure for some interest cen- tered in selected isues, which were {bid up for special reasons without fn- | fluencing the movement of ihe main body of stocks. | Victor Talki |into new high xround, well across the ! 140-level, in face of the 10-point gain yesterday, was of considerable inter- est, in view of the recent develop- ments between bankers and control- ling interests of the company. Ac cording to the re nt announcement n option on the 240,000 shares stor Talkinz Machine stock ned by ba ng interests at $11 re. At that time tha stock quoted on the curb at 120. In view of the rise to above 143 the exercising of this option has meant a profit of ap proximately $30 a share for the new interests in control of the ocmpany. Following ls’aA list of bonds and tocks traded in on the New ‘urb Market today. INDUSTRIALS ‘High, ales | in hundreds. Sup Mz B T W as & Elec. . 1057 Gas&El ptd 0% & Trac., 23413 P&L p Rayon Seat Bol LEeshzan ] g 10 1. . Prod Sonsar s @SR G2 [ 6C G Sp & B 34 nilds co 11 Commonw S 0w =3 o S et ateTe ot o e £ or i Dubilier C & \R.. r; g E R D et T e P SEer0s RRESE BEFRP B F PRISSEETETEIER S5V BEFEPELITTIER &3 PR IF PR FAN - 15 e 1 Baans) R BeamBis SRR BASBIBS [T . 3 - B RB10 5 S B I L1t e S AR I BN E B AT DD R LN B e i D B S BERPR [y » - Ry PR ERRELEF EPRRS TN 20 s o Rt a2 DiIan o BEI=B R e S R DAS B IS 193us o o 2885 £ ) - = o1 SRR fons—Supplies light: demand “fl(l)l?ed, market firm: l:k‘h;gsn 010;}- cks, Yellows. U, S. . 1, ;o!":;ds!a. 2.75; New York, 100-pound macks Yellows, U. 8. No. 1, medium size, 2.35a2.50. Potato Market Firm. toes—Supplies moderate: de- mayl?:la“mlted. market firm: Michigan, 750-pound sacks, Russet Rurals, U. §. No. 1, 4.40a4.50; few higher: New York, 150-pound sacks, Round Whites, . 8. No. 1, 4.00a4.25. ‘ i Spinach—Supplies moderate:; deman : tight, market steady: Texas, bushel baskets, Savoy type, mostly 1.00; oflr- folk section Virginia, no sales report- o . tatoes—Supplies moderate; acomnd Blow, market steadv: North Carolina, cloth-top stave barrels, vel: Yows, No. 1, best mostly, 250; fal quality and condition, 1.76a2.25. ‘Cucumbers—Supplies light: demand Mmited, market dull; Florida, %- bushel hampers, fancy, 3.00a3.50. Ergplant—Supplies light: deman Mght, market steadv: Florida, pepper crates, fancy. 04.5015.00: few higher; 3.0024.00. O eriSupplles very light: de- mand light: market steady; Florida, r crates, fancy, 5.00. Biring heans—Supplies moderate; demand moderate, market steady; Tlorida, 7%-bushel hamvers, green. | 2.50: few hieh as 2.00: ordinary quality aition, 1.50a2.00. A emtoes_Supnlies leht; demand Mght, market stronger: Ohio_ 10-pound paskets, hothouse stock, medium size, 9.50: small size, 2.50; California, no sales reported. CONNOLLY PRESIDENT. 'EW YORK, December 15 (P).— M.NI. Connolly has been elected presi- dent of Cellulose Products, Inc., suc- ceeding J. T. Barron, resigned. Ao rapt. G Co pf. ARERS =EED B Sl it i FEY: F¥EY) Ginghas ‘ Eihental Moi. Eu CBB M 4 “Roll Mi do 5 3 ret X nk. t Nat S o P & L i Island Crk ‘Coal. . do pt ..l o o ! Nat Park B Northern Sec 2 e R S Rem N Tvpe p Rutind R Seeman Br. 3 Tex Banking Co. Themp (JR) Co o va Ral BRR PR T S [T MoN & LR 1 b Owens Sh G 13 Bro Sy SECTRre. 5 San 25355 Fod ) ce 5 20 B0 - 20 b3 ) e 22 STCERE S ok 25855 FREE OF e » 2 Baes 208 B2 - 2953 ato 0, - son 2E35825.58! AL 2222, 25 eeRR2 FERR - - Machine shares’ rise | of | York i . THE EVENING STAR, NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office } wi 82 mWw P osn wl 82 95 A 3 Prien Ruconda Ga' X 0% 3% 1030 01 1011 o8 ° o8 it Serv 78 1.1 ® Com Larabes s G315 55 | | G Bai 68 A1 | Tex. 89 | hy Dat City G B8 AL Duke P P 68 El Refriger 0s. @ Fed Sug Gs i 19 Fiat 78 | oodyear T&R 7 3 Gyr T&RCH ta e 11 1 Grand Trak 6’38 1 2 Gulf State Utss A 7 Ind Limestone 05 %% | 38Ind QU & G Gls 102 | 51Ind P&L 68 A.. 101 6 Long Tsl Lt 6s. . 10 Mantba P hl%x A 91 1 Mass Gas 5ips.’. 5 Mont Ward 88 A 971, 07 13 Mon LH&P & A s | v Con Cop | Or T&MR 58 C 1023y .,| ta PM 68 g 1 Na§ P M 6i4aC 11 { kla Nat G 0gs 99 $144°D 60 60 Servel Dei ¢ chulte R F: SRErTEEDS oz eSS EEEET FEE 2 20, Sonommeat 233030: a) P Wk 6%3 SMrtIng7 ens&Hl 7s'28 11 imns&HI0s1stpd ate Hmburg fs 00 B on B! HA S8senn-Se g @ 33 e 222 essy gzos £l spesitessetegnartety woien FSERARRS BERRR2ER5RS2E =33 B3B8y o NO CHANGES PITA;’NED: NEW YORK, December 15 (#).— Ford dealers in this district have been notified that no changes in the pres- ent Ford models are contemplated at this time. Edsel Ford is quoted in a letter received either direct from the Ford Motor Co. in Detroit or from district managers as saying there is | £ Riac o 0 v-‘ - 7 : Y. s oy PEEP iettom ] Al E ol i [OTR T~ NNION ot S TR no truth in reports that a six or| eight cylinder Ford {s about to be placed on the market, or that any changes are planned in the present four-cylinder models. S ST BID SHAVED CLOSELY NEW YORK, December 15 (P).— Evidence of how bids are shaved to the minutest fractions in the highly competitive fleld of municipal financ- DR A A BAS I FRR R R RRRRSFRANREAR FRE R PR BR FER RRERREE R ¥ BEL 51 R FERRR R F RRNER FRRRRRER R OF Bpe per oot Bomno o F o Faifon B 19 o wae o R B2 DB DR A FEARRR BERFR W % = *: o S e 3 ® ) 3 191914205 ot £l 3 S D B a1 5% i i BRLDDDLDD; 22235888 3 trom Carls Shin © 9 5 ey = ) 1) R T ] Beb I R P EELLE] * P ) Wep a5 ERDRAR BB 1. S Dt s i Rt s 8% 15 o L) @ White Sew 30 Woolworth 1 Zellerbach Cor. . Sales MINING STOCKS. in hundreds. 1 Anglo Chil C 2 Con Cop Mines 370 Cont Mines. o] 1 Cresson old . 7 Fne Gla M Ltd i 20 Falcon Lead Min . 10 Golden State. E 13 3 10 2% S 3 £ &, o '?.'o'n o EPS L ® AR F o 58,53 Ry R 20 SRR 2Mm 1 Nev. 84 Nivissing 8 N 2038 = 28BS [ ris i RS a o, it i BZped) a Sales INDEPENDENT OIL STOCKS. in hundreds. 21 Am Con Oilfids. . 1 384 Am Maracaibo L 14 Areo Oil .. 99 1 Beacon Of 18 B Rrit-Am Ol 135 Carib Synd P Slopa ©aiop, 2583 Saoma BB 883 E g 2 Cit 1Cit S 2Cit Ser B B pt. . i Columbia _Syn 7 Creole Svnd . ) FRESFL - o 3 = 0 o 3205 in Western ——e SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) bs 1965 e 1935 RSB ErE Z05528s! b i i EeSoes! i ©555353: 2RSSI]B. w222 a K. 'oil Co” B34 1973 air C. OIL P C. 65 i Sou. Pac R Ry Gufl | R S AT i of Calif 58 10: Union O of Calif, 6 So5S 5%: FRAFS Pure Sinel S22t (55 S0 32 [oroy W OEAR RRRAIRERER iorions 1D SNt SR R S PR e RIFF B2 ) 2 ST s Sk s PSR ot N R DR ) o iomiom 55 o 355 ® Salt_Cl .o Shafter 0 R g btd 1 8 Tide Water Ofl. 9 Tide Wat Oll ptd Pet S LIRS S e FE R e 3 2 #ix 38% gales STANDARD OIL ISSUES. n units. 700 Contl Ol n.. ... 19 00 sheniand. ¥ "L 108 300 Gl Sie Oil. 10 ot on! Smams - - ™ 250D I B Dt SHSHD! % wr & olmsaslacwoanSe poteatoes in thousands. 2 Allied 26 Alum_7s n 26 Am Gas .-.__ 8323533 R ing is shown in the award of $15, 700,000 City of Los Angeles 415 per cent bonds to a nation-wide bank- ing group at a price of par plus a premium of $192. Although the pre- mium amounted to only 12 cents for each $1,000 bond, it was sufficient to swing the balance in favor of the successful group, which {s headed by the First National Bank of New York. EVANS IS ELECTED. NEW YORK, December 15 (#).— T. V. Evans, an assistant vice presi- dent of the New York Central Rail- road, has been elected vice president of the Indiana Harbor Belt Railroad Co. and the Chicago River and In- diana Ralilroad Co., both subsidiaries, succeeding George Hannauer, recently elected president of the Boston and Maine Railroad. He will assume his new duties in Chicago on January 1. LEAD STOCKS LARGER. NEW YORK, December 15 (#).— Stocks of refined lead on November 80, including antimonial, were 25,023 tons, against 22,126 the month before, the American Bureau of Metal Sta- tistics reports. Production of crude lead by members in the United States and Mexico was 72,675 tons, against 74,488 on October 31. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal fi 1 Zt‘m : TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) SN » er. 1n) Bs Hlebir s 010, ( in dollars per thousand ki Glg‘a'.‘:dzlm 4 pre-war. 2?00“"25.&0 018 2. 3.00 ass G B te 83323 & e . Sm comomest SSSSASH - o3t R s ono0 000 000ans 3233332838838833288:! Siszesss55u350000s 55 293 & = I 333 PENSACOLA.—This port is becom- ing a large exporter of coal. Twenty- five vessels are scheduled to sail with coal cargoes for all over the world before the month closes. The coal is coming the Alabama mingg, | sponse to steady Liverpool cables and { from the South. | here today with Liverpool WA COTTON IS STEADY INTRADING TODAY Small Advances Recorded on Liverpool News and Light Southern Offerings. By the Associated Press. NEW YORK, December 15.—The cotton market opened steady today | at an advance of 3 to 5 points in re-| reports of continued light offerings Further covering, with local and New Orleans buying on the advance, carried the price of January tracts up to 12.05 in early trading. i supplied by a little Southern he and realizing by recent buyers, how- ever, and the market eased off 2 or 3 points from the best by the end of the first hour. Private cables said trade calling ¥ absorbed hedge selling in the Liver pool market, but complained that business in cotton cloths was slow in developing. New Orleans Market. NEW ORL December 15 (#).—The cotton T les bet- ter than due and unfavorable, cold and rainy weather in the interior. First trades showed gains of 6 to 7 points with December and January at 5 and March at 12.30. Prices eased off owing to absence of sus tained support. At the end of the first half ‘hour prices were 3 to points under the opening, but still 2 to 4 points above yesterday’s close. Trading was quiet. Liverpool Quotations. LIVERPOOL, December 15 (®).— Cotton—Spot quiet; prices easier; American strict good middling, 7.60; good middling, 7.25: strict middling, 6.95; middling, 6.60; strict low middling, 6.10; low middling, 5.65; strict good or- dinary, 6.20; good ordinary, 4.55. Sales, 5,000 bales, including 3,500 American. Receipts, 5,000 bales; American, 3,700. Futures closed steady: December, 6.37: March, 6.52; May, 6.64; July, 6.75; October, 6.84. NOVEMBER EXPORTS SHOW BIG ADVANCE Favorable Trade Balance of $105,- 000,000 for the Month Recorded by Government. By the Associated Pross. November exports from the United States, which were worth $481,000,000, were greater than the exports of any preceding month since October, 1925 and gave a trade balance of $105,000,. 000 to the United States for last month. November imports were $376,000,- 000, or slightly below the imports of October and November, 1925. “Exports in November, 1926, showed an increase of $33,000,000 over Novem- ber, 1925, the Commerce Department said today. “While the figures are preliminary and few detalls are as yet available, it is known that this increase occurred in the face of a reduction, due chiefly to lower prices, of approximately $27,- 000,000 in the value of raw cotton ex- ported during the month. In other words, commodities other than cotton showed an increase of about $60,000,- 000. This increase was quite widely ttillnlrlbu!ed among different commodi- es. ‘““The only precise information we have as to an important contributing factor is the figure for wheat, which showed an increase of somewhere be- tween $15,000,000 and $20,000,000 as compared with November, 1925, “The increase in exports of about $25,000,000 !rozn October, 1926, to No- vember was &lso very generally dis- I‘l,‘lbu!ed among numerous commodi- es.”” FIRESTONE PROFIT DROPS. NEW YORK, December 15 (#).— Net profit of Firestone Tire and Rub- ber for the flscal year ended October 81 was $7,622,329, in contrast to $12,. 800,412 in the preceding year. DIVIDEND AND BONTUS. [k 1915 and 1924, {of |saddle and can mitigate MEN AND MONEY By M. S. Rukeyser. (Copyright. 1926.) The rapid return of Europe toward orthodox systems of money standards may lead to a call for part of the gold which gravitated to this country n unprecedented volume between Europe unauestionably has a hun- ger for gold, and will take an in- creasing share of the nmew output of the mines and possibly of America's accumulation. In the United States economists have accustomed us to the idea that too much gold in the vaults is waste- ful, and yet if the precious metal should begin to flow out in huge quantities _the psychological effect would be depressi 1f there should be a henvy outflow zold the practical effect of the triation of Old Worl came here during the war and post- war period, on domestic commodity and security prices and on business prosperity will depend on the policies of the Iederal Reserve authorities. If the reserve system, either through rediscounts or thro purchase on the initiative of the reserve banks of iovernment securities in the open arket freely substitutes reserve credit for gold, the practical effect of a gold outflow on husiness will be slight. However, if the reserve au- thorities transfer the initiative to member banks and compel them to go into debt at the central banks if they wish to continue the present body of credit in existence, the banks, par- ticularly those in the large cities, are likely to bring pressure on borrowers to reduce their commitments. The most obvious place for liquidation would be in the stock matket, which at present is absorbing more than $3,000,000,000 En credit—an amount which a number of competent econ- omists consider unduly large. Factor in Deflation. The outflow from the United States | of $400,000.000 in gold in 1919-1920 was a factor in causing the subsequent drastic deflation in this country. On the other hand, the later influx, par- ticularly between 1922 and 1924, laid a basis for the credit expansion, which has been so important a factor in the present economic expansion, particu- larly in security and real estate values. If we show net losses of gold during the next few years, it will be either because Kuropean countries, which have returned to a sound money | standard, wish to build up their gold accumulations for reserve purposes, or because a fresh inflation here of commodity prices will attract huge imports, which will be paid for partly in_gold. The best banking opinion in Wall Street holds that we are probably at the peak of accumulations, and that during the next few years America may well show net losses of gold—and can well afford to. The American Federal Reserve authorities are in the the tem- porarily adverse effects on trade of substantial gold movements. An outflow of gold is contingent on the probability that America will be willing to continue to make long term and short term loans overseas. If this extension of credit should stop,” of course, Europe could not well afford to take gold. Assured Leading Place. As a matter of fact, America’s new economic supremacy assures it a lead- ing place in the world gold market for many years. Though there may be some loss of gold, America will not return to its smaller pre-war holdings of the precious metal. If France stabilizes its currency in 1927, it is and will probably be inclined to ab- sorb more of the yellow metal than Germany has in the last two years. Gold is something of a fetish for the human race. If people were en- tirely rational, less arbitrary money standards might be evolved. But gold has a strange hold on the magination, and a clamor for hard money has arisen among the responsible business and banking leaders of Europe. At the moment soft money pleas, includ- ing the high-brow demand for a man- aged currency, are in disrepute. The financial statesmen abroad have wisely held that they cught to re-establish their currencies along sound, ortho- dox lines before giving consideration to new-fashioned reflnements which have been urged. Inflation, or printing press finance, which for a number of years was in favor in Europe, has been thoroughly discredied by experjence. Inflation is temporarily workable, but it eventu- ally gets to the end of its rope and brings a whole array of complications and troubles The sight of gold in circulation and the knowledge that it is in bank vaults gives the public a sense of con- MONTREAL, December 15 (#). The directors of the Consolidated Min- ing and Smelting Co. of Canada, Ltd., at a meeting today authorized pay- ment of a dividend of 6 per cent and a bonus of $5 a share for the half year ending December 31, 1926, Sale or Exchange of Business Properties A SPECIALIZED DEPARTMENT UNDER THE PERSONAL DIRECTION OF BEN T. WEBSTER Associates— GUY BIRCKHEAD E. CLIFTON THOMAS HENRY R. WASSER EDWARD E. CALDWELL JOSEPH J. CROWLEY EDWARD S. HANDIBOE CHARLES C. KOONES IRVING B. NEWCOMB RO fidence which can be realized in no other way thus far devised. Inhab- itants of another planet might smile at_this fact. Most of the central banks of Eu- rope now have larger gold accumu- lations than before the war, despite URING the past few months we have sold or properties. Second Floor Front 1417 K Street $S A0 PH Founded 1007 likely to be in the market for gold, than four millions of dollars in Washington business SHINGTON, D. ¢, WEDNESDAY, DECEMBER 15, 1926. FINANCIAL. heavy shipments to America. The ex»'!he lists only as a last resort when ! D planation is that they have withdrawn from circulation gold coins and substi- | tuted paper money. THE BUSINESS OF GETTING AHEAD. ‘What Makes a Good Lawyer. It is symptomatic of a change in our sense of values that we refer to the law less than in the past as one of the learned professions. An increasing array of college grad- uates are now going; without apology, into the ranks of business instead of into the professions. In recent times business has as. sumed a new dignity, and now is be- ginning to rank with the professions as an attractive life work. As part of this transformation, a score of uni- versities have opened schools or de- partments of business, where the scientific aspects of the world of bar- ter are analyzed and expounded. Whether for better or for worse, the legal profession has tended to be- come a branch of the business world. The largest fees are earned by cor- poration lawyers—attorneys who ad- vise and serve business men. Business Organizations. In the great cities law firms have taken on the character of business, instead of strictly professional orga- nizations. For example, in most of the large firms, one of the principal partners is likely to be little more than a super-salesman. This part- ner, whose special assignement is to bring in new clients, knows less about the law and legal procedure than how to make contacts with wealthy pros- pects, and how to turn acquaintance- ships’ into clients. There is a further division of func- tions. In big firms there are office partners, who plan the major strategy of -important cases in the quiet of | their studies, and trial lawyers, Who appear in the front line trenches be- fore judges and juries. The man in the office , sometimes originates the facts, the interpretations and the ideas which the trial lawyer, who alone gets the publicity, so effectively translates into courtroom oratory. In the larger cities, there are attorneys who do not deal with the public at all, but who are retained by other lawyers for consultation and aid in the solu- ;h'm of difficult legal tangles and prob- lemns. The lawyer is wise in maintaining an independent status, instead of working directly for his clients. His usefulness to his clients consists of his independence, of his detachment, of his fearlessness in pointing out errors in the reasoning of his clients. An ethical lawyer will not undertake to find a “within the law” way of do- ing any job that his client wishes. He will be frank and unafraid in saying that a particular program is unwise and contrary to public policy and to the statutes. Chief Work Preventive. The able lawyer does not depend for his livelihood on winning lawsuits. His chief work is preventive, in ar- ranging contracts and programs so that they will be free of complication: that will lead to legal battles. More. over, when inevitable disagreements occur, he uses his influence to effect compromises out of court, entering Loans at 5% to 51/2% Economical Conditions Tyler & Rutherford Loan Correspondent of the Mutual Benefit Life Ins. Co. Newark, N. J. 1018 Vermont Ave. Main 475 For Immediate Delivery $50,000 3-Year—612% 1st Deed of Trust Real Estate Notes Secured on centrally located, modern, improved, income- producing business property. Amounts, $2,500, $5,000, $10,000. Interest payable semi-annually. A safe, satisfactory investment. Apply Loan Department Gardiner & Dent, Inc. Main 4884 1409 L Street N.W. exchanged more other means have faiied The good lawyer has a knowledze of men, rather than statutes. He can look up the law quickly in his ence books. His creative work is in imagining how in the light of prece- dents the courts will r problems such as are fo! in the business-world. The good law- ver can anticipate the probable deci- ion of the court and advise his client accordingly. The good lawyer is interested in the integrity of the law and the welfare of the country and is unwilling to sell out to the first bidder who offers a fat fee. In representing individt he can make demands for them with better grace and effectiveness tha they could if they were blowing their | own horn. It is regrettable that so many law- | to take a broad view of their | vers fafl opportunities and responsibilities and concentrate on the less lovely trade of fee grabbing. The law runs beyond business into | 1l human relationships, and the good | yer is likely to be the man wl best understands the riddles of human personality. ‘WOOL PRICES STEADY. BOSTON, December 15 (Special). —Fine and FrencH combing territo wools continued to receive the best inquiry in the Boston wool market | the today, but prices held within range prevailing this week. Fleece wools are a shade easier, with sales of medium sorts more common at 45 cents grease basis. More South American cross-bred wools are moving. Montevideo 3s are now of- fered at 31a32 grease basis in bond | for spot wool, 4s at 2 26a27. light 430 and 5s at Receipts from abroad are EORE OWNERS Rovercn Tevepsone awo Treecesen Coveany BELL SYSTEM 149th Dividend ‘The regular quarterly dividend of Two Dollars and Twenty-Five ) per share will be paid on January 15, 1927, to stockholders | of record at the close of business on December 20, 1926. H. BLAIR-SMITH, Treasurer. | | | iIF 1 | 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 14th and G Streets Resources $17,000,000 R. GOLDEN DONALDSON. PRESIDENT i [ | Equitable Co-Operative Building Ass’'n JOHN JOY EDSON, President Organized 1879 Assets .$5,136,317.22 WALTER S. PRATT, Jr., Secretary ith YEAR COMPLETED Surplus $1,406,195.76 Subscriptions for the 92nd Issue of Stock Being Received HISEOODOOPIIPDN We Strongly Urge Systematic Saving Because by saving systematically you ac- quire a consistent saving habit, helping you to build up a substantial fortune. Join the Equitable’s systematic saving plan and de- Pposit part of your Christmas savings. Then make regular deposits. You will be amazed at the rap id growth of your money. 915 F Street The New York Life Insurance Company Offers : First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Suburbsin Montgomery County, Maryland 3 Years, 5 Years, 10 Years Apartments Office Buildings %% .. Ranparr H. FAGNER:& COMPANY rpor MORTGAGE LOAN GORRESPONDENT 1321 Connecticut Avenue OLDEST National Bank in the District of Columbia —this b: Christmas Remittances Sent to European and other Points by Cable and Foreign Drafts One Dollar will Telephone Main 9700 For Payday Depositors’ Convenience ank will remain Open Until 5:30 P.M. Today 1 open a Savings Account National Metropolitan Bank 15th St., Opposite U. S. Treasury COMPOUND INTEREST PAID ON SAVINGS Established 1814 —112 Years Old Have You Made Reservations for Your JANUARY FUNDS HE new year brings investment supply. heavy demands upon the Released principal and semi-annual interest checks produce a financial surplus that must, of course, be safely and re- muneratively reinvested. If you wait until Jan uary 1st to reinvest your surplus your selection of a medium will be re- stricted. ELP BUSINESS PROPERTIES DEPARTMENT Phone Main 9300 Choose your medium now—and avoid hasty and unwise investment. Reservations are now being made for our safe and dependable FIRST MORTGAGE NOTES 718, 718 and Main 717 14th St 2345