Evening Star Newspaper, February 19, 1927, Page 27

FINANCIAL. PRICES GO LOWER INCOTTON MARKET Doubt as to Fate of Farm Bill; 4 1 Felt Today—South | Is Seller. e By the Associated Tfee. NEW YORK, February 19.-—The cot- ton market opened steady today at a| decline/of 4 to 8 points, under liquida tig1 By recent buvers and Southern| #nd local selling, the latter being at tributed partly to a growing impres. slon that the farm bill would be vetoed the the and trade buving on decline, however, helped to steady market around 14.02 for May 14.45 for Octobfr, or about 7 to points below vesterday’s closing quo 1ations. Liquidation of March con tracts in preparation for probable no tices next week continued, hut was absorbed at about the recent discount compared with the price of May. Liverpool cables reported hedge selling had been absorbed by trade calling and a well sustained demand for cotton goods in Manchester. Orleans Market. NS, February e 'Liverpool cables the farm relief hill used cotton pric today to drop 5 to 11 points below vesterday's close after showing an opening of no change to 4 points down. Liquidation, in advance of the first notice day for March also helped to drive prices downward until March was at 13.88, May, and July, 14.1 STRIP STEEL LOWER. EW YORK., February 19 (®) Covering and New ORLF favo W 19 (®) —TLes: and fear that will he vetoed bonds_and | New York Following is a list Stocks traded in on Curb Market today. Sales INDUSTRIALS. i hundreds High of the Low i 1Ala Gt South p Alb Pick” B v Alum Co Gas & FI Meter Rayon’ Prod Rollins M Seat vie Sipernow ‘2 Sinerow Super p Shoes Tn Tk GAE e 1t-Am kivn ( Cent L n’ pfd wi ent Pip Cor G Spring & B hi w::: wa 13 Common P« 1 nw m Gas NY Aund tids Lt W A R ( SDe FR O 1y Dixon Crucible % Doehler Die € C Vie vieof 1 & Shpf Sh n Cor Invest 1 ans A ans B E Piat D war iton Sylphon n Bak A n Bak R Fireprts Tietia 8 TENR oW x 2 Hazel Atlas G 3 Hobart Mg 15 Ind_Rayon, Co 21y Insur, Co 2 | Sales THE EVENING STAR., WASHINGTO BUTTER PRICE FIRM IN WEEK'S TRADING Undertone Bit Nervous at Opening of Period, But Values Go 1 to ntepec Oil Reiter Foster alt Ck Prod neruelan Vileox 0 & G n Cont’l Il n Cimberland P 1 Al Ste 01l )0 Fumble 0l & P 1 10 Ohio ¢ 1900 Drairie 0 & G 1 je DL Peni 0 0 10 Val ol < in peands Al C A A Am Gas & EI 6s 4 Am Pow & 11 6 10 Am J A Sm Hand Blaa Beacon Oil 8 < Bohem Gl W Tx T & E Tl P& L As Cop B om Larabee s B A Det Oty G 5 Dike B Pow s El Refrig s fiean Pow < Tow @ A Hood Rub 51y v Limastonn s d 0 & G Blas nd P & . Int Gr N Inter. Pape S Leh Pow 4 47 Lom 0 M NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office STANDARD O1L BONDS 100 iv 10014 101 a4 0714 0% 108 iy 1 1-2 Cents Higher B tha Associated Pres CHICAGO, Fehruary ter markets at the opening week appeared firm | but the undertone w | unsettled. As more geonfidence | by the close all | higher. Many operators, who skanee. and, generi we Iy, a large per [ although the present price | from % to year, the market is in tactory position. They | prospect of any Auring the coming few consumptive outlets fall off lor the make of butter rapidly. at prices ranging from 1 to 1'% for | time have heen viewing the markets o operating more freely 10 cents higher than a tairly see sharp price recession weeks unless 19.—The hut- of the on the surface. nervous and the week progresaed was_ expressed markets were flrm and cents some centage of the trade was of the opinfon that, level is Iast satls- litlle sharply increnses Irom a purely statistical standpoint | the pre ed. Reserve stocks In cidedly less than in 19 fact, the holdings on 5 or ‘ebr) ant high prices are well found- tornge ara de 1926, ary in 18 at the four markets were 1,000,000 pounds than the four market 1925, and 3 than the four market April 1, 1926 The production \ [little change from p: | the tendency s still creage In make. “ | very small and | care of the increased | fresh butter, caused hy loss | Aprin 1, outlet insufficient | from storage to fresh by many and retailers shows evious weeks, toward Increases reported are demvand the switching holdings 00,000 pounds less holdings of but but an in to take for Jobhers 'BANKER CALLS FORD d “GREATEST GENIUS” SATURDAY, | TRADING IN REMINGTON PROBED BY EXCHANGE NEW YORK, February 19 (#).—Of ficlals of the New York Stock FEx- change today hegan an investigation of transactions in preferred and com- mon stocks of the Remington Type- writer Co., requesting members of the exchange for daily information ve- garding the aggragate “long” and “short” position of customers. Information also cerning the number of shares hor rowed and from whom and the num ber of & res loaned and to whom The common stock has advanced from 1121, to a high of 16014 this year on buying influenced by the proposals to merge the company with Rand, Kardex Bureau. Inc., and other office supply firms, This consolidation has since heen approved by the directors of the companies involved and awaits the approval of the stockholders. Div- idends on the common stock were re sumed February 8 on an annual basis of $5, no previous distribution having been made since October 1, 1913, FAILS TO ACT ON DIVIDEND. NEW YORK. February 19 (®).—Di rectors of New York Canners, Inc., to day took ‘tion on the quarterly Aividend of $1.50 on the preferred stock, which ordinarily would have heen paid March 1. It was stated that the preferred dividend probably would not be considered until June, when a better idea of the crop situation would bhe available Money to Loan Seured by first dead of try Provailing intereat and Jo!ep'l l Weller commi 420 Wash. Blde., Oth & F N.W. Money to Loan Secured by fiiat deed of District of Columbia real Provailing interest and _commission Floyd E. Davis Company 733 Twelfth St N Ww. Main ! trust on extatn, Provident Mutual Life Insurance Company Funds to Loan was gought con- | FEBRUARY 19, | 1010 Vermont Ave.. 1927. FINANCTAT. Real Eshte meced Business and Residential Loans on 2nd| and 3rd Trusts. Reasonable rates. Im mediate action. PEOPLES FINANCE CO. Rm. 508, Main 2008 Mortgage Monéy Loaned at 50/0 to 60/0 Economic_Conditions Tyler & Rutherford WE FINANCE —all classas of income producing propraty Large Loans a Specialty Current. int. rata and commission igbie & Richardson, Inc. 816 15th St. N.W. First Lowest Thomas J. Fisher & l'rurnm Action. Mortgage Loam Harriman & Company TRINITY BUILDING, 111 Broadway, NEW YORK MEMBERS NEW YORK STOCK EXCHANGE TRANSACT A GENERAL BROKERAGE AND 8TOCK EXCHANGE BUSINESS WASHINGTON OFFICE 729 15th Street N.W. Telephone: Main 1603 Rates of Interest and Commi & Company, 738 15th Bteeete T First Mortgage Loans Moplicationes Tnvirsdias 5% % On Improved Property Construction Loans at Minimum Rates Clover & Plashics 1508 H St. N.W. The New York Life Insurance Company Offers to Make First Mortgage Loans On Improved Real Estate m the District of Columbia and Nearby Suburbs in Montgomery County, Md. for 3, 5 or 10 year terms on your 5%% Apply RANDALL H. HAGNER & COMPANY MORTGAGE LoAN GORRESPONDENT 1321 Connecticut Avenue Telephone Main 9700 Office Building Apartment Property A further decline of $2 a ton in prices of hot rolled strip steel is reported from the Pittsburgh district. quota tions now ranging from 2 to 2.10 cents a pound. with a few sales as low as 1.90 cents, In Small or Large Amounts at §Y; Per cent. WM. H. SAUNDERS CO., Inc. Realtors 1433 K St. N.W. Main 1016-7 ! | Tells at Tax Suit }{ennng of Bull- dog Confidence Magnate Had in Model. 19 S Fgd A 108 nd O 6e an Dol Bu: . NG Sthuite R OB B 011 Shawsheen s 101 480 Cal Ed4 8s ‘31 08 1 Sou Gas l,e 107 1 Southe P &L fis OR 1 Sowin raL. 8 X 100 g N Y Bige.. 105 " 4138 031y 001y 0034 878 an s 100 & Y Par \H le-r Parke Davis Co Penn’ Ohis Ser Penn War Daw (18 Pheln Dodge Cor I‘(v Y‘hnm Morrie 19% Piedmont & Nor 431, Pilish FI .\{ Iw )l\ Pitner Ros Birtey & Take v:nn-. Pur S P & L 305 1 Pullma n wi, v. 4 Byrene Bur n a8 Baad x.m Bur w 520 1Rem Noisl T C A 25 Rem Rand wi 1Rem R Tat pt wi 6 Reo Mot 1 Rep Mot Trk vie 1 Rich” Rad Rich Rq Rickenbu . iy Roval Commissioned in 0. R. C. i S bew U0 Safe ¢ 1 & Lt X;u.\m 2 John T. McKeon of Georgetown Unl 1} Sehuite” Real’ Ent versity has been commissioned by the Shetwin Wik 5 Waur Department a _second lieutenant of Infuntry in the Organized Reserve Corps of the Army. Washington Stock Exchange SALES Washington Gas 6s ‘36 Ser. Co—10 at 107 at 107, 17 at 1 Wachington Rwy. & Elec. pfd.~10 at 91 80 _at 91 Second’ National Bank—1 at AFTER CALL Washington Gas 6¢ '38 B—$300 at 105 jJederaiAmerican Bank—10 at ann!lor Rwr. & . pfd.—80 at 91 Have You Been Stung Yet? Some men have to get stung good and hard hefore they learn to be cau tious in making investments. Before you invest—investigate: WILL RENT 300 VITAPHONES. NEW YORK, February 19 (#) Warner Bros. announced that 300 vita- phones will be in operation through- out the United States by January 1, 28, guaranteeing a weekly rental of 5,000 5,000 Shares THE DISTRICT NATIONAL SECURITIES CORPORATION 7% Cumulative Preferred Stock (Par Value $100 a Share) Dividends Payable Quarterly January 1, April 1, July 1 and October 1 Ara offered to the public at par, redeemable at the option of the Corporation on any Dividend Period, after thres years from date of issue, at $110.00 a share and aocrued dividend OFFICERS CAPITALIZATION kbt P 7% Cumulative Preferred Stock (Preferred as to Assets and Dividends) To be issued at this time............. 500,000 Unissued 5 A Ritigia 500,000 Common Stock, 10,000 shares, without par value, luld fnr lhe benefit of the stock- holders of the District National Bank of Washington. By the Assoctated Press A New York banker's sizeup of Henry Ford went into the record yes terday at the hearing bhefore the Roard of Tax Appeals on the petition of former Ford 'uhu!dnnf against the $30,000,000 back-tax levy. Waddill Catehings, a partner in the D | firm of Goldman, Sachs & Co.. as af O Government witness, was on the stand | [] | more than hours, and in comment 1 fng on the Ford car, said Ford had| = sublime confidence in this ridiculous louking thing and stuck to his single maodel like a bulidog | e valued stock in th {Co., as of Mavch 1, 1913 share.” Catchings said he question of Ford's genius and unusual methods, and the danger that some other ge automo bile concern might enter the field with a standard-type model, were elements of risk in 1913 which were hound to affect an appraisal of the Ford stock “TIt is difficult to resist the influence of the amazing record of the Ford 1 Co.."" Catchings testified, “and in nam ling a valuation of $5.000 I wanted to arrive at a price which would give the seller a reasonable profit and also enable the buyer to realize on his inyesiment.” The difficulty in evaluating Ford stock, he said. was that “Henry Ford is the greatest industrial genius of {our time.” 00o000000000o0og, O HOME FURNITURE :LOANS HOME OWNERS U to 3200, withip one day if you are buving your home. 0% |mtereat and brok- erie X e Tage” R &30 ar o St wer. Bring in what paners you 10 vour home. (" you domt sw your lame ‘we oan wp ta 3118, on housold Firntvure, ATl Money repaid smail sem oy Jmen Franklin 8810 [ Real Fatate Small Loan Co. Furniture Loan Procurement Co. L 1406 G SCN W Room 101 [ 00o000ogdnoooooo | L 5e wi 5 rans Ol 7 Jen & Co Blys 0il Prod 8« ooooooag i kMot i :«....,.w inos Ford Motor 15 at §5.000 u Authorized S believed that the Namar sssible den is 7 Cundinamarca7sA ssible death. h { Banish Cong 57% Bige. . 10114 tPrins 6158 100 “one Mun 74 101 3 Eeat Con B0 08 0 HungLrMro7 5 208 ndM RKF| 1011 Jronh Tirt2C7 58 1117 ww 10115 2 1001 10813 Tr seae e Wharton E. l-.ltlv Ralph P. Barnard Attornera B. L. Colten Qeeretary DIRECTORS ¥, Barnac jevre orfltil' onn %, Childress Obas. “l Darr o Joshua Evans Atwood M. Flsher Traue Lux, Pic " sees S_B vie 100 Masters of Nusic~ B—$1.000 at bital Tractio 107750 at 1 atjo 20 at 50 at 1 60 of the corperation are the same as the directors of the District Nutl.nd Bank. BUSINESs—This corporation is organiaed for the purpote of purchasing notes secat Jeeds of Truet on real est 1ders’ joans, underwritings and such other 1 Tate financing as fs authorized by the cha: This stock wiil De tax free as to D! trict of Columbia iAtangible tax not to d 5-10 of 1 par cent More than fifty per cent of the preferr: 0ck has been subscribed by stockholders of the DISTRICT NATIONAL BANK, and the unsold portion is now offered to the publie, subject to allotment. Stock allotted may be paid gor in full or 25% upon request and 25% each month there- after until fully patd. Application will be made to list the preferred stock on Price $100 a Share (Interest at 7% to be allowed on all payments from date of payment) SUBSCRIPTIONS RECEIVED AT DISTRICT NATIONAL BANK OF WASHINGTON 1406 G Street Northwest Direeto: i Ming Mill Mach ed ¥ MiagMIIMch?ew 20 Montecatini 78 1 Monteviden s A 1 Mor Bl Chile Gs 1 Muni Medellin 8 uni Medellin 7 1 Netherland s B ghm Grande s . Ruse Govt 815’ 10 Sanda Falls 38 A 2 Saxon P W 69 dgax s 8 Stom & H dhw Tatnd 14 Sou Wales 5e W ol :n l':tr‘_ n‘M PR, rel Con White Sew Maen Ton ManC N T o 31 i Sales MINING STOCKS! -dra] *Atherican National Bank—10 at|in Rundreds. 40 Am C M&M Ltd ng 5 Am_Explora 1 Carnegia Metal 70 Cortes Silver 4 Cresson Gold 2 Eng Gld M L 5 Fal Lead Min 10 Golden Hawthorne” M i TNLISTED DEPT Army and Navy Club 5s—8$1.000 at 86, Bid and Asked Prices. BONDS. PUBLIC UTILITY. an Tel & Teiga. 4., Y84 & Telka. 4% s i Tel. ctl. tr BTN the Washington Stock John r e Euteacy 17 Greate, 71, Checker Champion to Play. llllufi The checker Newell W, ed against champion of America, Erukes, will play biindfold picked team of local ex- perts at the Arcadia Monday. § o'clock A novel electric checker oard will | record automatically the moves of the avers to the aud Nipinsing orth Butte 10 Piymou Lead 10 Red Warrior Asiced s 3 & W i G0 lm St W g A arin B. Telephone s Tl of V' Sules INDEPENDENT OIL STOCKS. i hundreds. 1% Am Con Oilfids . El > Am Maracaibo Co Pow. 51 Alex” & hl. Alex g Wash" Bait Wathington Washington Wach Gas tis siies b Wash. Rwy. & Elec. 48 Wash. Kwy. & Elec. gen, MISC Barber & Ross 6140 Cheatngt Farme Daiey 3 Chevy Chase ¢ s S ook d&m § e Franz Liszt 1811 -1886 Tl Serv pfd i BE btd CO mparison The elements of security that com- | bine to assure the safety of Mortgage Real Estate in Washington are far more invulnerable than the clements of safety in other cities of lesser importance in our nation. Wash- ington is the capital of the greatest government in the world. The pres- ence of governmental institutions and activities practically assure the inves. tor against fluctuating market values and industrial depressions. Improved Washington real estate secures each of our investments. as Bs series A PEE Fae RANG LA L 8 T R LT G T great among musi- cians. His was a multifold appeal. Piano- forte virtuoso of unap- proached technique; con- ductor of the music of Wagner and Berlioz at Weimar; teacher of Tau- sig Bulow and a host of lesser pianists; eloquent writer on music and musi- cians; and finally the prolifie composer of end- less pianoforte pieces, songs, cantatas, masses, psalms, oratorios and orchestral symphonies, FERF Leonard Lion Oil Livings Pet 5 Magdal Synd . ash. Mkt Wardman Park Hote] &4 s STOCKS. BUHLY 1. & Telr, tion Gas 2 Mex Paniico 1 Mount_Prod 8 New Mex Land. 3 Pandem Ol EVERYMAN’S INVESTMENT BY GEORGE T. HUGHES. WM A WHITE & SONS New York City ANNOUNCE that they have arranged with W H WEST COMPANY FOUNDED 1894 916 Fifteenth Street NW “Washington D C com pid HATIONAL BANK Capital AR National Columbia Commercial ietrict L3 armers & Mechanics” ederal- American ... iberty . . incoln . pional Metropolitan Reactions Certain to Come. There is another danger involved in the purchase of common stock at A time when investment demand I8 so active that the prices of bonds have heen pushed up to record-breaking levels. There is always a tendency under such circumstances to turn to common stocks because they seem to) offer the greater possibilities. The! precautions that ought to he observed | have been ontlined in the two pre- ceding articles, but there is one more word to be added There are alwavs some ¥ naturally of an optimistic tempera- | ment who are not content with buy ing outright their stocks but who will | gin trading or otherwise to tauke on . more than they could pay for out-| There is a sense of genuine INSURANCE, e ine i’ starke e’ nre puronme | satisfaction in.deriving the bene- e Sy eI periodical interest checks. e L Sonue M unich Jut before the satisfaction can ever manifest itself, there must be the comforting assurance that your principal is safe. In our heen tested adversity and they FIRST MORTGAGES 7;3 7|5 awp 717 147% MAIN 2345 STREET nd National Bark of Wash TRUST COMPANY American Security & Trust.. Continental Trust Herehani<| Hank tonal Savings & Trist Gnion T - Wash. Loan & Trit SAVINGS BANK The single great appeal of First Mortgages as in- vestments is their SAFETY. The almost unanimous advice of Bankers is, that next to Government Bonds, Mort- gages are the safest form of investment, provided they are purchased through a house of known honesty and prestige. That is why investors everywhere purchase First Mortgages through Swartzell, Rheem & Hen- sey Company — because, assured of the primary attribute — safety — they also may obtain interest at 6% %. Swartzell Rheem & HenseyCo. age Bankers 727~15% St.NW. WashingtonDC. ‘Vears Without Loss To an Investor SAFE Security ‘Suvinks & Coin Soventhh Siree Thited St Wil tou A investor Mechauion o 0 FIRE INSURANCE American 4 Coreoran Firemen s Nawoenal LE Columbia Real Extate Title Inv. of Md ¢ 5 MISCELLANEOUS 3715 10 341, 0 to act as their Washington correspondent for placing large Real Estate Mortgage loans in the District of Columbia have not heen the ohjects of excited slation. Their balance sheets dis. | A strong financial position, and, | in short. they meet every test which conservatiem demands But what happens when there is a sharp reaction in the speculative | market? Such reactions are sure to come at frregular intervalg, no matter | how strong the underlying position. In | that event the investor who had| acquired on margin what he regarded and wh were, in fact, sound stocks, | tinds that arket price of hix| stocks turns downward with the rest. | As the price goes lower he becomes | wlarined and 0 omany instances sells | | Jout ut a loss. W there hus been | | 1o change in the status of his stocks, | | They were just as desirable invest wents after the price decline as they | were before. What hud happened was | thut other speculutors who had ac- | 5 |uired doubtful stocks also on margin | | were forced to throw overboard the || good to protect the bad. If the in.| | vestor had kept to the policy of buy- | sertificaten Smway. ‘ha veoytd. hatk Main 2100 925 15th St. N.W. 57 {ignored the misfortunes of other | | <peculators. The fact is that this sup. posititions investor had turned specu lator himeself. That is usually a nustake, (Copyrirht, 10272 Federal Stor Frderal-Ame Felerai e aton v‘-n Hante . A Third VEx dividend 10513 Unlisted Department. These sec Fules. of a —you enjoy not only full, regu- lar interest income—but definite urities not Il 5 Century | Without a d under exchang s protection as well. All Applications Should Be Submitted to W H WEST COMPANY Phone Main 9900 Army aud Navy Clb o s oo ¢ o, Clty Club Metropolitan ¢ [EP STOCKS In Amounts of $250 and up Conpe Christia irich Brew s Bank rthenst Savinge Bank Park Savinge Bank . Ctomac Savings Bank THERE IS NO SUBSTITUTE. FOR . SAFRTY