Evening Star Newspaper, December 24, 1926, Page 19

FINANCIAL. MM‘ CONSULT. US —for safe investment of Four eurplus funds. Look | | 6%% ey First Lo D. C, FRIDAY, DECEMBER . 24 benefit of heavy consumer buying l‘oans at 5% to 51/2% which has’ been spurred by recent Economical Conditions THE EVENING STAR, WASHINGTON, weather changes. Textlle mills are slowed down in all sections, but stocks Tyler & Rutherford Merst | Wa 1. Saunders Co, Loan Correspondent of the Notes Fo‘lndod ’85’ FINANCIAL. NEW YoRK cURB WARKET | INDUSTRY ISBUSY <2575 2 Mutual Benefit Life Ins. Co. ton. B | Reseived by Private Wire Direct to The Star. Office vival of activity apparently is in sight. Steel mills felt the holiday let down ¢ Following Js a list of bonds_and less than usual, and plants are being Stocks traded in on the New York put in shape for increased operations. The automobile concerns apparently 2 i wflm« Newark, N. J. 1520 K St. N.W. Mai Curb Mark: % ‘urb Market today do not anticipate adding to working MORTGAGES """i’h o ST““‘J‘ forces until January. Actual building FOR SALE - 1926 | WE FINANCE | —all classes of income-producing proverty| Large Loans a Specialty Current fnt. rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. Receipts Heavier and Prices| ™™ poyny P W27 W71 2 e g | Production Everywhere Al- | ganstruction wil not get back onee Go Shade Lower on “ | most at Standstill, But Re- are being outlined which will involve The New York Life Insurance Company Country Line. tail Trade Is at Peak. large expenditures in the next three months. Building materlals are steady, Offers but dull. Canners and preservers are prepar- ing to enlarge plants in anticipation *Ex-dividend. e DEFUNCT FIRM PAYS Wholesale dealers reported a whole- some condition of the turkey market this morning. They had iln\lv\f‘ sup- plies to meet all demand ording to repor nd will have veyy little surplus stoc ver for the trade the fir iing week. On the cou te yesterday and early today ipts of the king fowl were fairly heavy. this morning's stock being so large that the country dealers were offering their turkevs at slightly lower pric Tt was reported by wholesalers that high prices served to make their trade less profitable than it otherwise would have heen. Consumers do mnot take hold when prices are high, it is stated and profits had to be cut in order to move supplies. Business at Municipal Fish Market was fairly brisk this morning, o being in greatest demand for Friday holiday trade. Dealers ample supplies of both frozen and fresh-caught fish at prices they con- sidered reasonable. Today’s Wholesale Prices. Butter—Fancy. one-pound prints, £9a60: tub, store packed, 38. ggs—Fresh, selected, 43: hennery, current receipts, 48; stor- l'vmllrv alive — Turkey: 42a44; 5; white Leghorns, 22a , 16a17; ducks, keats, young, i # tler Bros 2 ( - CHRISTMAS “MELON” ST. CLOUD. Minn., December 24 (P).—A Christmas “melon” of 16% per cent on the defunct Pan Holding Co. properties here has been ordered by Judge John M. Roeser of District Court, giving some 3,500 bondholders $58,310 within the next few days. ‘A dividend is thus virtually declared for a defunct organization. The total bonds outstanding amout to $350,000. The money represented the’proceeds of a public sale of homes in “Pan- town,” constructed by the Pandolfo turing Co., for its workers. les constitute the main result of several years' effort to liquidate the Negotiations for the WILL CUT PRODUCTION. NEW YORK, December 24 ().— The shutdown for the Christmas holi- days at plants of the United States orporation will reduce its aver- ingot production for the week to hout 70 per cent of capacity. Mills ave been working at 80 per cent. Resumption at a higher rate nex week is considered certain. Indepen- dent companies are expected to show a rate of less than 65 per cent for the week. WILL CALL NOTES. NEW YORK, December 24 (P).— BY J. €. ROYL Special Dispatch to The Star. NEW YORK, December 24.—Pro- duction of industrial plants slowed almost to a standstill today, but the tremendous volume of Christmas buy- ing at retail was maintained at its peak. Industry will not get into full stride on its next relay until January 3, but that does not mean by any means that the plants will be idle and deserted. Inventory-taking is proceed ing in _every line and in every terri tory. The closing of plants is being taken advantage of to equipment and make { pairs and adjustments. Plans for 1927 are rapidly. This is Np(‘(‘h\ll' in the chemical, railroad machiner farm equipment, steel and automo bile lines. The latter will reserve fts announcements in most cases until shortly after the first of the year. Business men are discounting to large extent the effect of the divi- dends, which have been distributed and which “lll be distributed in the next few d: These le]ne.»wnt profits already earned, and what business men are looking to is the prospect for future earnings. Stock dividends, they de- clare, do not mean additional earning but simply mean that earn- 1l be divided into a greater of a tremendous season in 1927. This is especially noticeable in some of the fruit-growing sections of the South and in the Far West. This has aided in giving a strong undertone to the ar market. The raw material markets are ex- tremely dull, since purchasers are de- laying any attempt to lay in supplies until after the turn of the year, or after invento This applies to the non-ferrous metals, espeeially copper, and to wool, silk, rubber and leather. Inquiries indicate a fair future call for wool, however, and the demand for silk fabrics is nnpro\’lng DEFICIT Is REPOBTED NEW YORK, December 24 (). A deficit of § ovember is re- ported by the N . Ontario and Western agalnst a deficit of $258,1 for November last year. 5 the 11 months of 1926 was $87 againat surplus of $324,714 In the same period of 1925, = s 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 investmeuat problems? OIN THE o In denominations of $250, $500, $750, $1,000 and upwards, se- cured on improved real estate situated in the District of Celumbia. JAMES F. SHEA 643 Louisiana Ave. N.W. HOME OWNERS LOANS HOME FURNITURE P {0, $200 within one rlture up to :un in t 8% ntecest an ki . We tal d, 3ed or 4 i et }wrl sou have to_vour property. Real Estate Small Loan Co. ure Loan Procurement Co. District National Bank Blde. We will gladly receive First Mortcrage Loans On Improved Real Estate in the District of Columbia and Nearby Snbnrh< in Montgomery County, Maryland 3 Years, 5 Years, 10 Years 1 Office Buildings 5 /2% Business Properties RANDALL -H. FAGNER«® COMPANY Incorporated MORTGAGE LoaN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Homes Apartments THE WASHINGTON LOAN AND TRUST COMPANY PIONEER TRUST COMPANY OF WASHINGTON and give prompt attention to applications for oans on Washington Real Estate Current rates of inter- est. . Should you havc Money to Invest —we can also take care of R ¢ T you. Our experience, ex- : &'::{,:1,:" WII/////I/W/ tending over appcnod of Tarers Thirty-five Years xperience Make More From —insures _vour protection. Your Rentals Percy H. Russell Co. 926 15th St. N.W. Youngstown di number of pieces. of Ohio Leather uthorized | A number of companies now have calling of $400,000 10-year 6 per cent | surpluses which would enable them to young. £0a90 40; rabbits, No. Bid. Wik notes, leaving §800,000 outstanding of | add materially to their capital N .} ~\=l P"“ S e the original issue of $1,500,000. Loss [if they so desire, but, while a 3 22a28; R £ T of §71,343 for the 11 months this year [ move may be a factor in the stock lamb, 25a27: fresh hams, 2628 was reported, although net of § market, it will have only a minor shoulders, 23a24; loins, 28a30; smoked after charges was shown for No- |bearing on indust: hams; 28; smoked shoulders, 16a22. vember. Clothing companies are feeling the Live stock—Calves, ('hok‘e, 13; me- INITIAL DIVIDENDS dium, 22; thin, 6a LOS ANGELES, December 24 (). o Mou lL‘l l‘uw'(ll \m‘nl) WHEAT STARTS DOWN —Dividends on {ie new common u Candg: stock of the Richtield Oil Co. of Cali- ¢ B Cor o fornia will be inaugurated February ON L|VERPOOL NEws 3¢ Singes : ; §° 958 |1 with the first distribution of 25 Paln.. 3 I @ cents a share and an extra of 15 ‘o " | cents a share, James A. Talbot, presi. dent of the company announced to- ay. Earnings of the companies that compose the Richfield during the last vear, were approximately two and a half ‘times the rate just declared, he 16Um G Imp C (34 ES said. Lt & P n A lila X Dressed turkeys, capons, ¢, 47a38’ 1 Mohawk Hud P . " Moh H P 2nd nfd smaller, 40a4 ! : g 1V§nm BAE'n wi CHRISTMAS SAVINGS CLUB OF THE FEDERAL-AMERICAN “Everybody’s Doing It In addition to the various facilities rendered for years, this Company now offers the services of its COMMERCIAL DEPARTMENT and suggests that those interested in this branch of our business con- sult with the officer in charge. —by having our Property Management Department attend to every detail for you. For a Third of a Century we have served Washington property owners—relieving them of all management attention, and producing real profits for them. B. F. SAUL CO. Mgin 2100 925 15th St. 1Stand P & Ln A 25tand Pub C A S Suovck & Co.. 11oda Ship. Corn Also Slightly Lower, With Qat Values Easier and Pro- visions Advancing. Continental. Trust Co. 14th and H Streets Capital $1,000,000.00 JOHN B. LARNER, President. Soecia Dinpacs to Toe Sta BUSINESS CONTRACTS. " X ber NEW YORK, December 24 (#).— CHICAGO. December 24.—Wheat NI prices started out 14 to 3% lower to- While there was no contraction of day. There was some selling, too, be- Bgry 4 the lumber manufacturing industry cause of weakness in Liverpool. After g, e, A the last week, compared with the week the first half hour December was|w Y before, the National Lumber Manu- 1393 and May 140%. facturers’ Association reports there Corn was slightly lower with wheat. probably has been a considerable con- December, 7 traction compared with a vear ago Oats wepe easy, December, 4 The feature of the hardwood reports May. 50. is a marked decline in shipments. Un- Lard was 5 cents higher, with hogs. filled orders of 224 Southern pine and A A e i West Coast mills were 514,797,194 feet, against 506,376,962 the week before. CUDAHY PACKING FIRM *‘5 M o 1% ; i e STARTS PENSION FUND| ixehiuic - .o : H NEW YORK, December 24 (P).— | SIS Loss of $1,799,668 for the first nine | 40 Spakiosal, fouk months this year is reported by Ameri. c can Ship and Commerce Corporation Pay After Lengthy Service A i, | and subsidiaries, against loss of $427,- | pex .. > _ 2% | 700 in the same period of 1925. There Adopted by Chicago Co. 1 Wi op” was a deficit of $360,349 after crediting By the Associated Press, Sales INDEPENDENT net surplus adjustment of $919,319, in- CHICAGD S Decombar. 28k e o hundreds. cluding profit on sale of capital assets. Ploves’ pension fund. to be drawn en- fan an Cilny ot e EARNINGS GO HIGHER. v from the company’s resources, wm be put into effect January 1 by NEW YORK, December 23 (#).— Cudahy Packing Co.. meat packers, Associated Gas and Electric System and its subsidiaries, it was announced reports a further new high record' for yesterday. 5 Creole ¥ynd . * [the year ended October 31, gross’ of 96 Crown Cent B e, i 31y | 828,325,873, showing an increase of Checking Accounts Savings Accounts . Time Deposits Foreign Exchange Commercial Credits Travelers’ Credits Travelers’ Cheques Acceptance Credits Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts for 1927 l'fd_‘”d‘“l Trusts Resolve now to start the coming new Administrator, Executor vear saving systematically in the Safe Deposit Boxes Equitable. Once you get started, you'll make it a permanent resolution. Those who have used our plan recommend it most highly as the most effective means to accumulate money. Equitable Co-Operative Building Ass’n JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary Organized 1879 4ith YEAR COMPLETED . $5,136,317.22 Surplus $1,106,195.76 Subscriptions for the 92nd Issue of Stock Being Received LRSS o Y SRR REVEVS A Resolution 20 Forty Nine o 40 Hawthorne M Otiscis -y $ar Lap Lop Assets Bystem of Retiring Employes on INVEST IN KNOWN SECURITY Men 76 vears old and in the employ of the company for 30 wears and wom- en 60 years old and employed for 25 years will be retired and pensioned. In addition, men 65 years old and em- ployed for 20 years may be pensioned at the option of the pension board and special previsions are made for idows and children of pensioners and $12,425,460 over the previous year. Net earnings of $12,611,957 were $6,- 641,859 larger. PIG IRON LOWER. NEW YORK, December 24 (#).—Pig iron prices in the Pittsburgh district The factor of chance has been obliter- ated in the purchase of our First Mort- gage Notes. Our reputation—“Never has an investor lost a penny in either Continental Trust Co. 14th and H Streets Capital $1,000,000.00 915 F Street a5 emploves. The pension fund will equal 1 per cent for each year of service of the average wage paid during the last %\_ years of service of the pensioner. mployes are not assessed to main- tain the tund, Javi g e plan affects packing house em- Saies ~ STANDARD OIL IS ployes at Chicago, Omaha, Kansas | unif principal countries of the world, which City, "Sioux City, Jowa; Salt Lake soomulo Am Oil. . D) furnished about 85 per cent of the Los Angeles and Jersey City, as| 300 Ang A O nop v B B0 total in 1925, amounted to 125,150 well as over 100 branch houses 5 20 3 short tons, against 127,628 the month throughout the United States and before. The output for the 11 months 1,332,947 are 50 cents a ton lower for No. 2 foundry grade, ranging from $18.50 to $19.00. LEAD PRODUCTION. NEW YORK, December 23 (#).— November production of lead by the principal or interest.” The fact that the presence of government enterprise is a stabilizing influence on medium values—are obvious proofs of the safety of our Securities. foreign offices. The affiliated com- & Did oid 61 &3 63 |this yea : g panies employ more than 14,000 per- S O pfd n. g % e — S————— ‘ 4 * sons. e -1 28 . 13 I 0 . ' —— . — & e Secured by first deed of trust on real estate. 3 ese a lOnS 0 Ohio o EXPRESS WAGE PARLEY i ADIOURNS FOR HOLIDAY %.fi, 24 )PT rie P o 1 Bn & R - NEW YORK, December 24 (P).— Hearing of the employes of the Amerl. | 15 g can Express Co. for a wage increase i of 12 cents per hour was adjourned | Sales in vesterday to be resumed January 3.|thousands. Former Supreme Court Justice James %% A. Clark, chairman of the board of Am I’OW‘(LI Bs. l”l arbitration, said the hearing was i HeaLay halted to permit witnesses and officials 3 RN to spend Christmas at their homes. Appal EI Pow b8 \h‘m Testimony to show the hazards ac- S o5 companying the work in the moving branches of the express company and the increased costs of living was con- as the Brotherhood ed its argument. by the Ameri- 3 ‘Workers and the Order of Railw: Xpressmen will be heard when the hoard meets again. The express company will pre. sent its c later. COSTA RICA FINANCING. 88,000,000 Issue Awarded to Cen- tral Union Trust Co. and Associates NEW YORK, December 24 (#).— The republic of Costa Rica has award- ed an issue of £§.000,000 external 7 Gas_ § b . % 104 l\ b % 1 8y R B oh . SRt ool Accounts carried on a conservative | 61/2% Guaranteed First Mortgage Notes group. A public offering is expected K 3 T soon. l Phila l'l O mT.’an‘?“.”\i‘.’ h’ls Jose, :he first of s 33t H I . . S d eve anged by Co Rica as & public dollar loar, Marioch marginal basis. awaited with much interest in inter. Secured by Improved D. C. Real Estate Written Guarantee Backed by More Than $4,000,000.00 Resources as to: 1st—Security of Principal. 2nd—Attractive Normal Income. 3rd—Prompt Consecutive Interest Payments. national banking quarters, owing to the exceptiontal” competition lmtween 4th—Full Return of Principal When Due. 5th—Freedom From All Care and Management. Real Estate Mortgage and Guaranty Corp. L. E. BREUNINGER, President 26 Jackson Place Stocks 0dd Lots Carriea 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 REAL ESTATE LOANS THE January investment period is less than two weeks away. e e The demand is heavy. Great sums of money will be avail- able for investment and re-investment. Therefore — Make your January reservations now! 7 Alum 75 For prompt First Mortgage service, and terms arranged to meet your FEEE RS needs most conveniently, rely on our organization. 1SS Select the bonds you most desire and we will lay them aside for you for January delivery. Low rate of interest and commission Son At the present time, we have a wide range of maturities and a well diversified list to select from. Make your selection at once. ] 34 Ry .xn ,:w'“‘ 4 ; itineau Pow 68 05 2 o - . ““‘r’x"”’”» 3 E | B. F. SAUL CO. Listed stocks and Main 2100 925 15th St. N.W. bonds bought and sold on commission. SartteSaney! Ty 1 Ini Nat CaEs wxu 7 Inter Pap 6s . 8 Call at our office and discuss your investment problems with one of our officers, or, if more convenient, write for our January Investment Guide, describing sound first mortgage bonds, yield- ing 5.75 to 6.25%. Ask for BOOKLET 442-G S.W. STRAUS & CO. ESTABLISHED 188; INVESTMENT BONDS 929 FIFTEENTH STREET Telephone Main 5847 WASHINGTON 44 YEARS WITHOUT LOSS TO ANY I 2% 2% 7 2 We {nvite correspondence on securities HARRIMAN & Co. | Members N. Y. Stock Exchange 111 Broadway, New Yerk | ‘ SEEK LOWER TAX. in off Bl 8 ,5.1’ | Rub 655 ¥EW BEDFORD, Mass., December R 24 (Spesial).—Some of the textile mills r“ here are advocating that all ma. chinery used in industry in this State be taxed ac a uniform rate of $5 to $8 or $10 per $1,000 valuation in order to enable mills {o mect Southern com. | S25kinde tition. The present rate, they c 7 7 f:lboul "0 ke y y claim, 17 Boe Mm . % Weet vl el Bs. w'x’ . FOREIGN BONDS. 7%, 729 15th St. N. W. Telephone: Main 1603. BIG FIBM BUYS TROLLEYS. HANNIBAL, Mo., December 24 (Spe- cfal).—The controlling interests in the street railway system here has been bought by a bus company operating gix lines of motor vehicles. The Pub- lic Service Commission will be asked 10 allow removal of some tracks, which L will be replaced by bus lines. | i WASHINGTON OFFICE | |