Evening Star Newspaper, January 23, 1927, Page 43

t tlons, which the banks seem to prefer \ FINANCIAL. [ BOND SUMMARY FOR THE WEEK | CAPITAL ONE OF FEW CITIES WITH HIGHER 1926 BANK CLEARINGS Increase of 1.7 Per Cent Shown by Wash- ington in Contrast With Declines All Over the Country. BONDS CONTINUE STEADY ADVANCE Predictions of Reactlon Fail to Materialize as Prices Push H.gher. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK. January ~The hond market has continued to push @head to new high levels this week. notwithstanding the large advance it has enjoyed since the first of the year. At the close of the week the averages were right at the peak. On one or two days the market hesitated, but it never really reacted, and after realizing sales by traders and specu- Jators had been ahsorbed the upward movement was resumed, Predictions of a 1eaction have been freely made all week but they have not been realized. As a matter of fact, there is only one reason for anticipating a set-back and that is that prices are now so high in com- parison with anything seen since before the war. There has been no ¢ change i fundamental conditions and ¢ and finally Brazilian obligations that none is in sight Th trend in money and the ready accept- ance of new offerings ave just as prominent factors as they have been all along. When an investor los over s list sees a large profit on his holdings | and is tempted to accept it. he is cou | fronted with the problem of reinv ing to better ad and Seems insoluble. vields ean be obtained, but only at a ifice of quality or the assumption of some additional risk. Shift to Foreign Bonds. ‘There has heen a good deal of shift- | ing from domestic into foreign securi ties, with a consequent improvement in income, a process which is account- { able for the strength in the foreign list, but even granting that foreizn bonds are entitled to a better rating now than ever before, any extensive change of this kind weakens the in- vestment position to n certain extent. In character the week's trading re- Bembled that of last week. As far as there was any new development it was in the better inquiry for the highest grade railroad bonds, a class that had been comparatively neglected up to this time. Even this week, however, the gains here were very moderate, | There has been nothing in this part of | the list to compare with the buying of United States Government obliga- downward to corporate obligations. Perhaps the | preference for long term over short term bonds has been more decided this week, although that too has been in evidence all along. Selling of Liberties. There has been selling of the Liberty mecond and third 4%s, the former 1 deemable at the Government's option | this year and the latter maturing next | year, to buy the longer term Libertie: the first and the fo i:th 414s Libertie: both of which sold this week high than ever before. All the treasury bonds have set up new high records also and they are of longer maturi than any of the Liberties. For the first time this week, too, one long term Govern nt bond. the Treasury 3%, has s0ld to yield less than 313 per cent. There is no longer any doubt that { the Secretary of the Treasury will be able to se'l the next long term loan on | better terms to the Government than 1 at any time since the first Liberty | 3lis were marketed. One authority has gone so far as to deduce from a plotting of the price curve of Govern. | ment bonds for the past half dozen | years that by 1930 the average yield | Will come down to about 3.12 per cent. | Without necessarily aceepting this con- clusion, it can be admitted that the outlook favors lower returns on United States securities than the 31¢ per cent now i.1 sight. Foreign Leaders Vary. i The ieaders in the foreign group Rave varied from day to day. At one time it was the French, at another Belgian, then Italian and German, would be taken up. The rise of the Italian government bonds to a record ! high testified to the underlying strength of the demand when it is re- membered that this issue was never as ‘well placed as the other large foreign logns. The floating supply of Italian 7s is Jarger than that of most others in the same class, and so it looks more concentrated 1 ing will be necessary te advance the price. There has been nothing in the ropean news to influence the mar for the Buropean bonds; the improvi ment was brought about by the conditions operative in domestic b The case was a little different with Brazil, where distinct progress toward financial rehabilitation has been made, This helped the market for the honds which wasg also faverably affected by the better attitude displayed in London outh American Borrowers. New forgign financing is mostly for account of South American borrowers with & sprinkling of continental Eu ropean utility and industrial offerings There is no reason to change the opinion heretofore expressed in this correspondence that the total of new foreign financing thi; ar will fall below that of 1926. ance may make heavy demands upon the market pro. vided the debt funding agreement is ratified, but that is likely to he made up for by smaller borrowings from ether countri If this comes to pass it will be another reason for expecting still Ligher prices for outstanding lorelgn bonds. Aside from vestment demand has the second and third g stocks more strongly this week than jn a long time. lssues which have | been quiescent for months past have | come to life. To a less degree thix bas been truc of certain common | mestly those without speeula- tive attraction and selling on invest ment merit only. There are still many opportunities in this part of the mar Ket, but they are likely (o grow less as times goes on DRY GOODS STEADY, NEW YORK. Janu —Cotton goods markels week quietly with prices Te for 64 and Raw silks were RUBBER UNCHANGED. NEW YORK rude rubber were unchanged at compares with 391 and Tdc a year GERMAN BONDS AND STOCKS. lure, per s 1401 $hen 101D jons in_dollars per bonds entively, the in. { own itself - in | ade preferred | (Special), closed the steudy for 05 68T Junuary 22 (Special). smoked ribbed sheets, today. T month ago. 15000 115.00 marks | UR0 w00 250 e Geoman Ge Berlin 3¢ pre Prussian_Cotsols vupp be 1071 Husseldors 4% pre-was Frank{ a-M 45 pre-xar Mupich 4 pre, war he Anilin 18000 10.00 Commerz Discon i 106 at | —-192 High, 101 29 10230 101 1 102 1 103 9 fiien 979 9. 108% 101% to9Ts, 96 I 10105 { 881 { 110% ; 1084 i eon 1 103 | 1043 103% 103% 110 110% 5115 | 100 10474 1017 106 | 1021 89 947 94% 1073 i 107% 1024 | 9% 9 104% 100 92% 82% 843% 103 105% 108 119 115% t- 1 1077% 104 94% 94% 99% 9513 107% 103% 9915 £61a 98 8413 101% 99 105% 100 o1 8 1004 97 103 100% 94 90 97 834 111'% 105 984 T84 102 94% 108'% 106% 100 v4% 105 9% 106% 100 111 107% 121% 119 102% 99% 104% 101 1Y 823 95k 8T 110 101% 109 90 103 89% 99 95% 102% v7% 102 97 93ty 8Tiy 102 99 115% 112 104% 100% 99 95k 108% 106 103 96% 99 312 100% 924 105 101% 101 9 95% 88 101 99% 104% 100% 91ty 85 108 104% 106% 104%s 98% 91 102% 78 B7'a Toh 112 109% 100 sl 92! 88 94y Y 913 86 95 ¥9% 94 o 103% 1024 YoY: B3% 98% 95% Y24 B2 1 118% 116 un 5 s6% o 4 FIA 108% 100% 9% 1% 681 g% 65\. oy 112% 105% 8% Jh | 1043 102'% Yol 0n Y 532 1124% 101% 104 101 85 82 70 6o 9% 86 5% 10 681 61% 69% 63 uu 69% 93 llihh 106% 117 114% 100% 94 103% 994 111 108% v 6l N 6T 1034 101% 74% 59% 9o 85 o6 ¥ B0% 95 70 Y% B8 o 97 y1% 95% ybh Yl% 108% 104 y2in 4% 104% 102% e v3Ta vite o7 ¥ 1023 99 118% 106% bz 24 w8 87 u2nm 20% 0k 59% y2n BB 62k 60 ¥7 B3 108 104% ELEY 101 10845 anke Vienna hemical A E G (Gen Elec Handles 985 631 96% 99 15 10119 100 16 101 1 101 20 10810 104 13 High 100% 102% 100 99% 1114 10 Hith Tow. . 101 22 99 19 Liberty 3% 103 2 101 101 17 100 25 Liberty 3d 41s 19 108 16 101 29 Liberty 4th 4745 1933-38. 110 10 106 9 Treasury 4%s 1947.52. - —1926-— THE SUNDAY! STAR, WASHINGTON, D. C, JANUARY 23, Low. 101 21 Liberty st 4%4s 1 100 13 Liberty 2d 43%4s 19 Low. FOREIGN. 98!4 Argentina 68 A-1957. Argentina 7s 1927 964 Australian Govt § 100 Austria 7s 1943.. 81Y Belgium 108% 105% Belgium 8s 1941 % 103% 102% 10974 1001 105% 104% 106% 106% 103 108 107 9434 100% 116 110 9 87! 944 106 114% 119% 104 106 106% 102% 104% 10918 2% 102% 104" 101% 110% 4 105% 107 1123 132 108 105% 29% 105% 98 108% 118 106% 95% 109:: 106 100 102! 10; 1047 9914 101% 107% 95% 108% 107% 99% 110 90 113% 102 934 w 149 Yl 100% 15w 102% balto & Ohio 6s1929. . udli 1027 uuh 118% w6l 2l 914 Y73 o3 107% 81% W 5% Y6l 58% 574 1144 81 924 957 194 874 100% 108 116% 10; 109% 115 ¥% B’y 1044 80% 100 86 v8 W% ¥l 99% 98 964 110% y8% 104 BT y7 108% i 964 106 108% 0% 105% 341 80 937 917 114 9Bl 5 100 108% 113% az2in 104 941 I 95% 94% s 100% 1024 Y9% 967 92% Yo w3ty 97 98H 903 94 BT% 108 119% 112 65% 95% 100 103% 104 105 96 10074 87 81'% Bordeaux 6s 19 102 Canada 1013 Canada 100% Chile 85 1 107% Chile 8s 1941 107 Chile 85 1946 241 Chinese Govt Ry 984 Copenhagen 5%s 1944 98% C hoslovakia 8s 1951 102 Denmark 6s 19 103% Dutch East Indi 194 108% Duteh E: Indies s 196 2% ench Govt 7lgs 1941, 981 French Govt 8s 1945 101'% German 7s 1949.. 8% Hol d-American 8815 Italy 7s 1951 92% Japanese ;s 1954. . 100 Jergens Utd Margarine 63 1947. 10612 Netherlands 6s 1972 95 Norway 8%s 731 Paris-Lyon Med 6s 19, 215 Poland 8s 1950. 104 Queensland 6s 1947. 110 Queensland 7s 1941. . 95 Rhinelbe 7s. . 3 79% Rio de Janeiro 8s 1946 1024 Paulo, State of, 8s 85 Seine. Deptof, 7s . &7 Serbs, Crouts, Slovenes 8 196: United Kingdom 5% 18 United Kingdom 5%s 19 INDUSTRIAL AND MISCELL 31: Amer Agri Chemical 7 Amer Smelt & Ref ist 55 1947., Amer Smeit 1st 6s 1942 i Amer Sugar Refining 6s 1837 4 Amer Tel & Tel cl tr 45 1929. 97% American Tel & Tel s f 5s 101% Anaconda Copper 65 1953 1021; Anaconda Copper cv deb 7s 1938 90% Armour & Co 4%s 193 . Atlantic Refining deb 100% Bel Tel (Pa) ref 53 1948. . 92% Bethiehem Steel p m 5s 1936. 95% Bethlehem Steel s f 104% Chile Copper 65 L 8% Cons Coal (Md) Ist re Cuba Cane Sug ov deb 85 1930. 1074 Detroit Edison ref 63 1940. 92% Dodge 6s 1941. 101% Empire Fuel & Gas 1% 1937, 104 Goodrich (BF) 6%8 1947 109% Goodyear Tire 85 1931 119% Goodyear Tire 8s 1941 101% Humble Oil & Ref 5 1024 indiana Steel s 1982. ¥4% Inter Mer Marine s 1941. 91% Inter Paper 5s B 1947 International Tel 5 Kelly Springfleld 8s 1931. . 103% 1025 Laclede 5%s e 99% Liggett & Myers 5s 1951. 96% Manati Sugar s f 73S 194 3% Midvale Steel 5s 1936. . 100% New ki 58 1952, 114% N Y Edison 1st 6%s 1941. . 104 NYGasELHG&Pbs 1948, 97% N Y Tel 4%s 1939. < 1075 N Y Tel 65 1941. 101% North American E acific Gas & Elec 58 1942, Pacific Tel & Tel 55 19 . Philadelphia Co ref 6s 1944 100 Public Service 6s 1944. .. 93% Sinclalr Oil 7s 1937, 100 Sinclair Crude Oil 68 103% United Drug 6s 1944 91% U 'S Rubber 1st & ref 5s 1947. 108% U S Rubber 7%s 1930...... 105 U S Steel s £ 55 1963. . 95 Utah Power & Light g 105 Va-Carolina Chem s f 7s 1947 56 Warner Sugar 7s 1939 110% Western Union Tel 6%s 1936 $5% Wilson & Co 1st 65 1941...... RAJILROAD 8912 Atchison gen ¢s 1935 #1% Atlantic Coast Line Ist 4s L 394 Halto & Ohio goid 4s 1943... 94 Balto & Ohiocv 4148 1933... ¥3Y; Balto & Ohio ref 55 1695. e Wk B&OPItsLE& W Vads1 98 B & O Southwestern Div 5s o y2% Brooklyn Manhat s £ 63 A 1968 117 Canadiun Northern 6%s 1946 80k Canadian Pacific dep 4s. 29% Central Pacitic 45 1949. : 7% Chesapeake & Ohio ¢v 4 18 1930 92 Chesapeake & Ohio gen 4155 1992, 51% Chicago & Alton 3%s 1950. . 102% Chi B & Quincy 1stref 5s 1971 78% Chi & Kastern 111 gen 531951 64% Chi Great Western ¢s 1959. 48% Chi M & St Paul cv 4%s 1932 90% Chi M & St Paul gen 4Y%s 1989 48% Chi M & St Paul ref 435 2014. 47% Chi M & St Paul cv 58 2014, 111% Chi & Northwestern 63%s 1936. 65% Chicago Railways 58 1927. 873 Chi R 1 & Pacific ref 4s 1934.. 4% Chi Union Station 4145 1964. 115% Chi Union Station 6%s 1963 51 Chi& Western ind con 4s 195 1023 C C C& St L ref 65 A 1929, vol Colorado & Southern ¢ i 19 384 Cuba R R 55 19 108% Del & Hud cv 55 1935. . 85% Den & Rio Grande con 48 1936. ... 62 D& RG West 5s 1956. .. 90 Detroit United 4348 1932, . 743 lirie 15t con 4z 199 64 Erie gen lien 45 1996 G5 Kriecv 4s A 1953. .. 3% krie cv 4s D 1953 97% Fla ECbs 4. . 106% Grand Trunk s £ deb 65 193! 114% Grand Trunk 7s 1540. ... 99 Great Northern $14s 1961 102% Great M 110% Great Northern gen 75 1936 92 Hudson & Manhattan ref 5s 1957, 75% Hudson & Manhattan adj bs 1957, 101% illinois Central 5%s 193¢..... 62 loter Rapid Transit os 1966. ... 85% Inter Rapid Transit cv 78 1932. .. 66 Inter & Great Nor adj 68 1952. B9%, Kan C Ft Scott & M 45 1936 7213 Kansas City Southern 3x 1950. Y3% Iansas City Southern bs 1950. 98% Lake Shore 4 1928 . 964 Lake Shore 4s 1831....... 3% Louis & Nash unified 4s 194 106 Louis & Nash 15t ref 518 200; 899 Mil Elec Ry & Lt 1stvef 5s 61. 101% 3 SLP&SSM6ls 1931 ¥4 Mo Kan & Tex 18t 43 1990. 90k Mo Kan & Tex adj 53 1967.... 96% Mo Kan & Tex pr in 5 A 1962. Missour! Pacific gen 4s 1975 New York Cent deb 4s 1934 New York Cent ref imp 5: 106% New York Central deb 6s 19 58 New Haven deb 4s 1957, .. 97% N Y N H & H cv deb 68 1948. 20% N Y Ry 65 1966 69 N Y West& Boston 48 1946, 90% Norfolk & We:itern con'4s 1996. 61% Northern Pacific 3s 1947, 86% Northern Pacific 4s 1997, 108% Northern Pacific ref imp 6s 967 Ore Short Line ref 4s 1929 . 82% Ore-Wash 1st ref 43 1961 Y4% Pennsyivania gen 4% 1025 Pennsylvania gen 65 1968 111% Pennsyivania 6%s 1936 35 Peoria & Bastern inc 101% Pere Marquette 1st s 1950 91 Port RY L& P 6 Yiv Reading 4%s 97.. 744 Rio Grande Western clt 4s 1949.. BB R1Ark& L 4%s 1934. . B9% StLIM&S R&G 45 1933... % St L & San Fran pr In 45 A 1950 3 StL & San Fran pr In 58 1950, 99% St L & Sun Fran 5%s B 1942 91k St L & San Fi 823 SUL & San Fran inc 65 1960 .. ®6 St P KCS Line 4165 1941 69% Seaboard Alr Lin 76 Seaboard Air Line adj 53 1949 91 Seaboard Air Line con 63 1945 967 Southern Pacific v 45 1929 #5%: Southern Pacific col 45 1949. 90 Southern Pacific ref 4s 1 81% Southern Ry gen 4s 1 104 Southern Ry Ist 5s 1994, . Southern Ry dev 6%s 1956 41% Third Ave adj 6s 1960. 921 Union Pacific 1st 4s 1947, .. 99% Union Pacific cv 48 1927, 99% Virginian Ry 1st Gs 1962 101% Wabush 1st 5s 1939 Wabash 5% s 1976 6 Y4% 10154 99% Weste: 83% West Shore 1st 4 > High. . 101 14 101 8 . 103 18 102 8 100 27 100 21 . 101 14 101 10 103 28 103 22 110 28 110 17 v. week's Frev. week's 7651947, nadj 6s 1966, ..... Last. Yield. 101 12 3 25 103 12 362 100 22 373 101 13 355 103 26 3 64 110 26 353 Low. ose, 98% High. 98ty 109% 1074, 1004 1043 104 1167 1041 104 1014 108!y 105 101% W3 981 102% 99% 118t 85 Y24 ¥9'% 974 62 . 106% 824 n b8% % 59'% b7 111% 749 9314 855 100 107% 115% 95% 108% 994 1047% 2+ 100% 99 8% 85% 93% 8614 100% 1024 995 981 934 100% 983, 100% 88 | other | States last | week i tered 101 and | shares, par I trict an BY EDWARD €. STONE. Washington ym‘u-unlt-v 1o leading clties in the week when bank scored n gain. Clearvings for th nding Junuary 20 reached § an Increnso of 1.7 per eent corvesponding period last y 0 thix oty for (he week ending Japuavy 18 totaled $29,197,000 Baltimore canceled $111.613,000 checks during the past we was a o from | Richmond's of §45, hlh 000 were more than 20 per cent helow the figures of a v ago. The decline at Atlanta was nearly as marked, cl s amounting to $68,978,000, 1 drop 18.4 per cent The country as a whole loss of 4.1 per cent compared with vear ago, according to DBradstreet’s figures. Norfolk and Duluth reported the largest deelines whilo the best in crease was made in Los Aungeles, it ng over 14 per cent Boston, nsas City and New Orleans were only_other large cities to show gains. The Inventory period .is as signed as one of the chief reasons for ump. Local Stock Market St Both the issues listed on th ington Stock Exchange during the appeared on the bhoard St day. Washington Gas s B, opened at 104 and closed at | 4. the last sale mvolving enly l‘hm The stock of the Bank of Bethesda was dealt in for the first time, 10 share changing hands at 361, This stock has « par value of Mergenthaler Linotype new high, selling at 110%. Monotype sold at 94 on a turnove lway Electr! ferred was 901 while Capital T} closed the week at 103%. Potomac Power Preferred came out at 10814 Merchants Transfer & Storage regi shares of Columbia brought 10 most United slearings week ove in showe ong Wash veached a Lanston share Title Insurance Co. Riggs Bank stock sold up, in a 10-share transaction. Fifty shaves of Continental Trust changed hands at 105%, these sales winding up an unusually busy week in bank stock transfe The market closed with Georgetown Gas selling at to 470 199 Would Save Old Dutch Market. The Old Dutch Market's reorgani- zation committee has come out with a new plan of reorganization which it is hoped will materially cut the losses of the creditors and the shareholders, The company will keep [*the same name and have three stock as follows: 6,000 first pre- non-voting shares, par value paying accumulative divi- cent per annum and issues, ferred §10 each, dends of & per | preferred as to dividends and & ue of ng cumu- per cent per to assets and a second preferred value £10, | lative dividends of 3§ annum, preferred as dividends after first preferred stock is fully paid, and 12,000 shares of common stock to be given as a bonus to the purchasers of the first prefer- red stoc The fi preferred is first be offered stockholders at par, to the creditors, and then to public. In this W raised. Of this new money $30,000 and the entire second preferred is to be paid in liquidation of creditors’ claims. In other words, the credi- tors, whose claims aggregate $300,- 000, are to be given $30,000 in cash and $120,000 in stock, which means 50 cents on the dollar, 10 cents in cash and 40 per cent in stock. It is Intended to retire the second pre- ferred in eight years out of earnings. The common will have voting powers equal with the second preferred stock. G. W. Harris, 1313 F chairman of the committee, the other members being Willlam R. Merriam, Harry Hahn, P. A. Wilmer and N. B. Scott, The members of the commit- tee say that careless management and unwise ventures into corelated lines caused the failure of the old tompany. They believe that the com- pany, which was highly prosperous for several years, can again do a lucrative business. They report that the gross sales of the old com- pany operating under receivership from Jul November last vear, were For these rea- <ons they opy :lling the business under the hammer. The notice sent to stockholders explains in detail how it is expected to meet interest payments and adds that the plan has already met favor with various stockholders and creditors. Tt must be approved in the near future, as the hankruptcy proc s are still pending in Alex: Daily Dozen for Dollar Disorders. The foilowing ~financi to then street, is offerea’ tn. Sorinsotign. -withy Thrift 1. Earn all you can ho 2. Plan your spending 3. Spend for what you née: i. Record money transactions tel, of your pay regu 6. Consult your banker frequently. 7. Invest what you save safely. §. Protect your loved ones quately. 9. Keep firmly. 10. Own your 11, Avoid waste diligently. 12, Give what you should liberally. Bank Withdrawals During 1926, Depositors in the fifth KFederal Re- sorve district withdrew §16,429,388,000 from their banks during 19: accord- ing to a tement issued by the dis- ban at Richmond This was increase of $610,000,000 ahove withdrawals durin, 2 These figures were issued under the classification of debits to individual accounts a method of obtaining ac- s for withdraws which has been substituted for clearings, Baltimore led the dist with debits aggregating Washi tor was next. with 30,000 Richmond took third p with $1, 690,293,000. Richmond’s nearest com petitor was Norfolk, with $950,512,000. Insurance Officers Eleeted. At the meeti of the board of di rectors of the National Union Fire In- surance Co. William H. Somervell was elected secret ucceeding the late Philip ¥, Larner, and William Henry Marbury was elected as: ant secre- t Mr. Somervell has served the com ny long and well. He has been connected with it for some 30 y and has discharged the duties ol sistant sec ary for 19 ve: Peoples Drug Votes Iil\ltll'nll The dirvector of Peoples Drug Stores, Inc.. have declared the vegu lar quarterly dividend of 2 per cent on the preferred stock, payable Veb. ¢ 15 to stockholders of record at the close of business February 1. In a tabulation just made by a New York firm covering the earnings of chain stores, it is stated that Peoples Drug earmings gained over 21 per cent 5. The company started the ar with 19 stores and increased the number to 45 during the 12-month period. The Liggett stores increased sales ade- your credit established home surely. the | $60,000 will be | 23 per cent and during the year, Moody Sizes Up Market. Moody's Weekly Review part tock price averages no met gain since December 10, and the increase in the number of issues quoted 18 a typical characteristic the latter stages of a distributin market “Upon the basls of corporation earn ings, not many stocks ity {overpriced. However, earnings them es move up and down with stock prices and prosperity so that the real question i how much earnings [ react this year Local and Other Notes, orge A, Harris, president of Potomace Joint Stock Land Bank spending a few days in New York on business. H. Cochran Fisher 18 one Thrift week lite insurance speakers, Idressing 2,500 students in the Cen- tral High School auditorium on that subject R. . Fitz-Gibbon itz-Gibbon, investn | disposed of his inte he announced yesterday The New York Stock admitted to the list South Co. part-paid subscription receipts for common stock, first instalment paid and Victor Talking Machine Co. tem- porary certificates for 7 per cent cu mulative prior prefe o stock. The American Bankers' Association has put out a pamphlet on “Industry, Finance and Foreign Trade in Soviet Russia.” It was prepared by the Com. mission_on Commerce and Marine, of which John B. Larner of this city is & member. added 10 new stores says. in have made & has firm of Willquin 1t securitios sty in the Baltimore Markets BALTIMORE, January 22 (Special). ~—The white potato market rules easy under ample receipts and only fair demand, and values show no change from last week at 3.00a3.25, per 100 pounds, for No. 1 well-graded stock, while No. and run of the patch are slow sale at half pric Sweet potatoes and vams also easy and top prices of 2.00a3.00, barrel, for the former and 1.50a2.50, barrel, for the latter are obtainable only on good dry stock, while culls and No. s are not wanted at any price. Demand for native and nearby gar- den truck continyes good and all stock showing = quality meets with | ready sale at the following quota- tions: Brocali and kale, 40a50, bushel; arrots, 4.00a6.00, 100; onions, 2.00a 100 pounds; oyster plants, 5.00a 100; ~pars 50a75, Dbasket; | horseradis bushel; Savoy | cabbage, 50475, bushel; spinach, 1.25a 1.50, barrel, and turnips, 40aj0, bas ket, for washed, and 25a85, basket, for unwashed. Closing _grain No. 2, red winter, spot, 1.48 | red winter garlicky, spot, 1.4 3, red winter garlicky, spot, 1 Corn, domestic, No. 2. 2, contract, spot, 82. 4.00, per barrel. Oa 54. Rye, nearby, 95a1.00. Dairy Products. Receipts of native and near | have been more liberal the past w and with trade wants easily satisfied the market broke sharply and values declined 5 cents a dozen from openi: prices Monday, closing today at and 37% cents a dozen for first free cases. While supplies have been more than ample for trade wants the past week, an increased consumptive demand is looked for next week owing to the de- cline in price and fairly liberal ship- ments are advisable, but prompt ship- ments and careful grading are neces- sary to command top values, as qual- ity is everything with the trade at is season of the year. he géneral live poultry market rules steady to firm under a fairly active demand for large fat stock, but many of the arrivals are poor and thin, which only tends to lower the value of the better grade fowls. De- mand for young hen turkeys, 9 pounds and over, has shown improvement the past week, and more liberal shipments of medium .ed young hens and gob- e adv but heavy gob. and 0l toms are not wanfed at ason of the year. Young hen turkeys are bringing 42 a pound, and , 40, while old toms or poor and crooked breasts are neglcted at 5 for the former, and 25 and 30 for the latter. Demand continues fairly good for large, smooth, voung chickens at 29 and 30 and 25a27 for Leghorns, but poor and thin stock is slow sale at 20a22. Old hens in lighter re- ceipt and fowl weighing 31 pounds and over meet with ready sale at 24 a29, but Leghorns and lighter fowl so desirable at 20a22, are in ample continue scarce and are 7 a pound, as to large fat ducks con- tinue good and the market holds steady at 28a32 for stock weighing 4 pounds and over, but small and poor ducks are not wanted or while geese are easy at a27, ith Kent Islands bringing top values. Guinea Wh quotations wanted at Demand for fowl and pigeons in fair demand at 50a75 each for the former and 30a35 a pair for the latter Present weather conditions are against the sale of dressed poullr, which dves not show up to advan- tage in murky weather, and buyers slow to take hold, consequently, capons is the only line that will bring a premium dressed over live Large, tan 7 pounds and over, sell 40242 and stock weighing pounds, 37 40, while slips sell most- nd condition. Live Stock Quotations. Under general light receipts of first quality cattle the general live cattle {market rules steady. but quiet with | little change in values. Choice Spring lambs in light receipts, and meet with y sale at full values, but other gen lly slow sale at the fol lowing quotations ! Beef cattle, first quality, pound, | 8a9; common to medium, pound, 5a7: | bulls, #: to quali cows, choice to fare-, 5a6; common to fair, pound Zad, Oxen pound, 3a5 fancy, head, to fair, head, as to quality, ice to common milk 0.00a 30.00a pound, inary to medium, 12al common, pound. Sal0; pound, 7as. Sheep, ch pound, 4 lambs, Spring | 1232a18; fair to common to thin, Hogs, 14al5; rough and small culls, ice, pound, 6; old bucks. ommon. pound, 3: nd choice, pound, sood, pound, 10a12; pound, 8a9. pound, 12a1234; stags, pound, baf; old boars, pound, 3a4; live pigs, nound, 14a16; shoats, pound, 12ald. Receipts of dvessed hogs are run- ning fair, but market gules steady. under a good demand’ for choice medium to light weight stock at the following quotation: Choice light weights, pound, 15a16; g;m:l‘l.nn, pound, 14a15; heavy, pound, a : 2 1927-PART 1. CHICAGO LIVE STOCK MARKET CHICAGO, January 22 (United States Department of Agriculture).— Hogs—Receipts, 7,000 head: generally steady with yesterday’s average; light light and pigs and packing sows in very narrow demand; practically no market on pigs or sows; top, 12.10; bulk desirable hogs, all weights, 12.00a 12.10; few sales packing sows, 15 to lower at 11.00a11.20; shippers took 000; holdover, 2,000. heavy weight, 10: medium, 11.80a12.10; light, i 10 light light, 11.75a12.10; packing sows, 10.60a11.40 Cattle—Receipts, 600 pared week ago, strictly steers, all weights, to others 50 lower, with some in between light and medium weight 75 off; close worst time; too many short fed steers offered; choice kinds below trade re quirements; smaller runs fed steers advisable; st moderately actiy hout stead + bulls steady top 1,458-pound loads heavie yearlings, 12.60 spread unusually m: bulk prices slaughter heifers 7.00; all cutters, 12.00014.00; stockers head choice 10 higher; rs and heife strong to to 50 higher steers, 12.6 12.00a12.35 lots, 13.00 for Winter steers, § 7.0009 4.3524.75; and feed higher; oxtreme several hest odd wide fat Sheep—Receipts, 1,000 | loads wooled lambs steady: for week 46 doubles from feeding stations better grades lambs c to 35 lower: in-between grad: culls strong: sheep to feeding lambs strong to 25 p prices: Fed Western natives, 13.10; clipped 11.75; vearling wethers, 10.50 -year-olds, 4.00: fat ewe: feed ng lambs, 13.10. Bulk pric Fed Western fambs, 1 13.00: natives, a12.75; clipped lambs, 11.00a11.50 culls, 9.75a10.50; yearling 5 aged wethers, 00a7.50; feeding ad; odd steady higher higher lambs, 11 Iambs, fat ewes, lambs, 12.00a13.00. Members New York Stock Exchange Successors 1o JOHN L. EDWARDS & COMPANY A copy of our Fortnightly Review sent on request 1416 H Street Northwest 52 Broadway, New York Richmond, Va. Money Available For First Deed of Trust LOANS Reasonable Interest and Commission Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. A Large Fund Immediately Available For Purchase of Second Trust Notes Reasonable Discount Quick Action Loan Dept. N. L. Sansbury Co., Inc. 1418 Eye St. NW. Main 5904 LOANS We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate Current rates of inter- 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. com- | fed | 5 to 100 day | fully ——— WE PAY MORE INTEREST CONSULT US —for_safe investmens ot R RS wWm. H. mn Coy 9 g W, Current int. rate and commission Higbie & Ri Inc, 816 15th St. N.W. When You Need a Loan Think of Welch, Realtor Loan Specialists Money to Loan % & 6% Interest Placing gr Renewing Yon _ist_or 2ud Trust Weleh's Figures |nav 147 Found, o. ‘ashington. Loans at 57 to 51/2% Economical Conditions Tyler & Rutherford Loan Correspondent of the Mutual E::if: Llfe Ins. Co. : FOR SALE 1520 K St. N.W. "Main 475 First Deed of Trust Notes Bearing 61,9 Interest See WELCH Realtor Established 1899 15th and New York Ave. Main 4346-4347 No Loss to an Investor in 87 Years “Main 4316- ON SAVINGS ACCOUNTS Than Any Other Natioval Bank in Washington Interest: on DAILY Balances Come In and let us explain Commercial Nat'l Bank | 14th and G Streets il Resources $17,000,000 | R. GOLDEN DONALDSON. PRESIDENT KNOWN DEPENDABLE VALUE FIRST MORTGAGE HOME FURNITURE INVESTMENTS LOANS HOME OWNERS Up to $200 within one day. On furnitare up to $118 In two 67% Interest and brokernge. '~ ke . ed or 4t trust. s vou biave to your proverty. Fr. 8810, Real Estate Small Loan Co. Furniture Loan Procurement Co. Room 702 ASSURE ANNUAL R 614% i and T17 1§tk § Main 2343 The New York Life Insurance Company Offers First Mortgage Loans On Improved Real Estate in the District of Columbia and Nearby Suburbs in Montgomery County, Maryland 3 Years, 5 Years, 10 Years Somillt - | Touuss Ranpary H. HAGNER & COMPANY Incorporated MORTGAGE LoAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Homes FIRST MORTGAGES THE IMPORTANCE OF THE APPRAISAL That the security behind a realty investment should be considered” as worth so much is not sufficient. The value must be definitely established; otherwise there arises a jeopard- ous doubt inconsistent with sound investment. In our 6',9% FIRST MORTGAGES —vyour principal is safeguarded by improved local real estate conservatively, knowingly ap- praised at about twice the amount of our Mortgage an it. Experienced appraisers fix that amount. You can depend on its accuracy. A Third of a B. F. SAUL CO. Main 2100 925 15th St, N.W. THERE IS NO SUBSTITUTE FOR SAFETY Hundreds Of people —have inquired about the METROPOLITAN LIFE IN- SURANCE COMPANY LOAN PLAN and we have loaned thousands of dollars on Real Estate to many applicants. WHY? Long Term Loans No Renewal Charges Reasonable Terms Lowest Interest Rates. CONSULT US. WhERRRR 809 15th St. N.W. Main 9486