Evening Star Newspaper, May 14, 1927, Page 15

FINA SUMMER CHCKEN SUPPLES LBERAL Plenty of Fowls This Sea- son, It Is Reported. are deeply interested s for supplies of poul- try the coming season, and those who arby sections of Mary Jand and Virgl the past few days have submitted favorable reports “I too trip through the northern neck of Virginia this week,” remark- ed one of the , “and it appear- ed to me as if ybody had quit farming and to raising chickens. It appeared f there was & hennery on v farm. It seems certain that there will be | no scarcity of chickens the coming | Summer,” the dealer added, *and there also seems to be no possibility that high prices will prevail.” Spring chickens received here the past two weeks were not very larg according to reports, but much large ones have been received the past few days. Such chickens always are in de- mand during the Spring season, the heaviest demand ing about the Fourth of July holiday season. l Turkey Supply Plentiful. | Dealers are continuing to receive al plentiful supply of turkeys from the nearby € nd they also are draw- ing upon frozen supplies to meet de- mands. There still is a fairly good de- mand for the king fowl for home, ho- sumption. { s were quot- | and 35 cents dress- od this morning, while old toms were | quoted 5 cents cheaper. It is expected | nd will decrease as the | Local dealer In the prospec Top a1 ed at 30 ce mand, being regarded as one of the| Jeaders in the meat market at this | season, It has been in especially big | demand the past few weeks, according to dealers, and Saturday buvers-have practically cleaned up market sup- plies. Prices have been cheaper this season than usual. Prime rib roasts and choicest steaks have been in demand this season, as usual, and there has been a fairly good demand for veal, pork and pork products. Earlier in the season the market continued draggy for some time, but more life has been evidenced since the Easter holidays. Butter and Eggs Weak. Weakened conditions of the butter and egg market were reported during the week, and the egg market prom- ises to close weak at 22 cents fer cur- rent receipts. It has been surprising to dealers that egg prices have re- mained low for so long a period. ‘Weather conditions have helped the market considerably, it is stated, pre- venting the usual heavy losses result- ing from candling. Receipts of the hennery product continue in quantities in excess of de- mands, dealers report, and the surplus stock is being stored for next Winter’s trade. Dealers say the eggs put away thus far this season propably were in much better condition ' than "during past years, when warnier weather pre- vailed. Butter prices havé dropped several cents the past week or 10 days. Fruit dealers are depending largely upon bananas to satisfy the demands for fruit. The tropical fruit has not been so plentiful or cheap this week, dealers state, but additional receipts promise to lower prices the coming ‘week. Ships Coming In. It was reported-this morning that four or five ships from the tropics are headed in the direction of Balti- more, each vessel containing approxi- mately 25,000 bunches of the popular fruit. Demand for bananas has been much greater the past few days, it is stated, because strawberries have not been so plentiful and oranges are gradually, getting scarce and higher. Pineapples, “pines,” as they are called by dealers, ara gradually get- ting more plentiful and there is a g00d demand for them. They are chiefly from Cuba and Porto Rico, the Porto Rican fruit being regarded the better. Prices cover a wide range, depending upon size and con- dition. 2 . Apples are being received in much smaller quantities than heretofore, light supplies, moderate demand and steady market being reported by the Agriculture Department service. No. 1 Virginia Winesaps, 2%-inch up, were quoted at $4, while the scalded fruit this morning was quoted at $2 and $3. - Strawberry growers in North Caro- lina and the Norfolk, Va., section con- tinue to supply the luscious fruit to the local market. Supplies the past few days have been only moderately Jarge, however, and a moderate de- mand made the market continue steady. North Carolina berries, ordi- nary quality and condition, sold at Jow as 10 cents a box, while the fruit from the Norfolk section brought from 20 to 30 cents, most of them sell- ing at 25 cents. Asparagus Supplies Liberal. Liberal supplies of asparagus, one of the best sellers in the vegetable market, are reported. There is some homegrown stock being received, but most of the supplies are from Eastern Shore of Maryland, North Carolina und Virginia. Prices depend entirely upon size and condition of the vege- table. String and stringless beans are being received in large quantities fromp Florida, Georgia and South Carolina, and only a moderate demand for the vegetable has made the market dull and prices cheap. Peas from growers in the Norfolk, | Va., section have appeared in the local market, and North and South Carolina growers also are shipping the product here. A moderate demand for mod- erate receipts made the market steady the past few days. | growers are furnishing dealers most of the tomatoes ng offered to the trade. et was reported rices ranged from ¢ m te or light supplies of arly vegetables were reported pts were ample to suppl at prevailing prices. vers were on hand early thi morning to get first pick of product ally farms and truck garden post commodities were substantially the quoted at the close | of yesterd | Today's Wholesale Prices. Butter—Fresh, one-pound tub, 43a44; store 1 resh, selected, current receipt’ live, turk: prints hen- | nery 1 Poultry— old tom ducks, young, 60aT Meat—Beef. lamb, 32a3: L0SS IS REPORTED. | NEW YORK, May 14 (#).—Mexican Seaboard Oil and International Petro- s of $517,008 for quarter, before depletion cainst profit of $106,666, be- letion, in the same period of charges Sore de 1926, stocks traded in on the Curb Market today: stocks traded in Sales ‘n hundreds. Sales in bundred: Sales in hundred | sates 2 in’ thousands. NCIAL. Received by Private Wire bonds _and New York Following is a list of bonds and New York Following is a list of Alum’ Co n Superpow Super pr_pfd Asso Gas & El uburn _Auto ancitaly C RS h ridgen rillo ) . Biiyn_City R Buf Niag & E Bullard Mach Case Plow . S ? Leath n pf wi athw pr In 101 S Pupwi Pow 3 “ommonwith Ed. 14 onde Nast Pub onsol G Balt n. Consol_ Laund Covel Prod A wWw Caneo Press . Deere 2K Do For ROVIC 1 Denver Tr Durant_ M f 9 4 Fi 3 i3 Firest T 7s pld. 3, Ford Mot Co Can 4 1Fox Theaters A Fran H H Mfg C 1 1 Sylphon orp ulton rod Rak Bak o 1 G 2 Gobel A 3 60 Goodyear T & R 1 Grand _Stores 1 Habir E] 3 3, Hartford EI 1 Hellman R pt 3, Hercules Pow . % Hobart Mfx 1 Hood Rub . . ntern B 35 Intern_Util pf. 8 Johns Many 1 at Pu Ser A ional Tea pid 101 & Shr. ol - i TR oY s s e N3 SeIERSERRRNE50T TR 2 W B 5 2 CEPE RS R e = T& ! e Sien_cnnemnd S88L500 SBaBeon & rE 1orm Sy 3 P LA R e SE588E5E 2 5 R B FITTES PR t tutz Mot. wift Tntl ift & Co » 38! e s 2R SR RS B I S DO s SREER B TS s B on e B » I e S, S SR R - 252 b o Suon - S o AR Y SESEEES PRLIFEETRSEE P FERPTR s pa LoD ptia Con ot * w23Brea: vteB 19 White Sew M ris 4 MINING STOCKS. s. 60 A M&M Lt 08 G 1C xu 209 c 06 ! & e 3 10 L ERaS5 R i R Lioh asise I35 f Ry = b ok Sue28% b bbue AR AT 20 West End Ext. INDEPENDENT OIL STOCKS. 2Am Con_ Oilfids. 85 Am MJracalbo c SE S & SR S reole Syt 16 Gibson Ol cor 1 Guif Oil of Pa.. 12 Houston Gulf G 5 Kirby Pet . op e Moo b4 o L e san 1 »3EEES R R BB i aererery ¥ s SBRLRanEELE, TR FERPER 10t wois 2 I arzion S » wBEERS SRR DB B85 PIFEREDFL, Srsiem w3BEE! A @ 300 Chosebr'gh M 200 Cont'l_Oil_n’. 100 Gal Sig Oil.: 1. 900 Humble Oil & 10011 P T ; Lic w 1200 Inter Pet 500 Ohto_OI1. 200 Prairie O&G 600 Prairie P L. 16008 O Ind XS & SraIEa2EENLS & - e R 400 Vacuum Oil. It B 100% 1 005 10574 108% 108% 104 104 106% 106% 1024 10210 66, 983 5 95 00 907 106% 104 104 106% 1021 6% 051 m & EI 1 1t 6s 1Am Roll M és 15 Am Seating 68 1 Anaconda 6s A Pow 53 Cont], S Cub Det City Em O R 1R 1 s Al1ll by B100% 5s wi 96 2 (s Bi% 75 96 He 1y 1b0% 100% o0 ¢ o8 3 ki man 10 Fairbanks Mo S35 2 Fiuk Tire 5l 10K P& L b ¥ Gatr Robt 74 - fnean Bo' 5u. 0 incau_Po_Gs. 1019 \"fivest os & 117% e 5 10078 101 Fla 654 7% i 5005 o 3 Goodse & R 5 "Q% BEREL oy ¥ Gu O)f Pa Oa 47 36000 Ba ba 47 B Guif Sta Ut 68 A 97 Slps e B s b3 L B 9983 10l 101% THE EVENING STAR, WASHINGTON, D. C, SATURDAY, MAY 14, 1927 Direct to The Star Office EEeE §5< - 3 S P $08%% 328 B 22 2 of b A ] ooy S2cooe! 235323 55w3! ate el e R BFFHE PR >0 ,...,, RO = 328 =52555! 222323232 552321R3; 7 k4 222" iu * EER =55 s Toads 2255355000 ) SO0 250" o EEREERRR R 21 Whit S M 1Wh E O&R 5 FOREIGN BONDS. B 78 47 98% I ] .. 100% Sales in thousands, 1 Agri M B Adriatic B r CE 6% 3 Brisbane 58 Burm & Wain 68 AP 2 F Free St Pru 6148 Ger Cons Mun 7s 1 mbur s s Sameisoon Mor Bk C [ Muni Medellin, 78 Pernanibu 78 ‘47 PENNOK OIL EARNINGS. NEW YORK, May 14 (#).—Pennok Oil Corporation earned 24 cents a share in the first quarter, against 64 cents in the first quarter last year. R FAILURES INCREASE. NEW YORK, May 14 (®.—R. G. Dun & Co. reports 442 commercial failures in the United States this week, against 431 the week before and 419 a year ago. ; POULTRY MARKET WEAK. CHICAGO, May 14 (#).—Poultry, alive, weak; receipts, two cars; fowls, 2215a25; broilers, 22a40; turkeys, 25; roosters, 25a30; geese, 16. — o GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) d. Ger Gt 07500 Hamb: '90.00 | arben. .. .. G (Ger Ge Elec) G (Ger Ge El " ers - Privat Bank 323333338 33! BUILDING IN U, S. CONTINUES HEAVY System of Steel Buying Now in Use Changing Policy of Production. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, May .14—Checking building construction in the United States is a good deal like plugging dikes and levees. If the flow of con- struction is halted at one point, it breaks out at another. The volume of construction called for by the applications for building permits in over 500 cities has fallen off somewhere near $50,000,000 a week. On the other hand, actual contracts let advanced materially and the total contracts on big jobs only so far this year amounts now to over $1,015,000,000. Materials are firmer, owing to active demand. Cleveland, for ex- ample, received an impetus relefising $8,000,000 worth of work as a result of the conclusion of a contract be- tween employers and common build- ing laborers at the same scale as last vear, 87% cents an_ hour. Enough of the building trades artisans are now signed to assure completion of jobs that are started. Similar trends are reported elsewhere. Changing Production_Policies. The system of steel buying now in vogue is causing a distinct change in production policies. Instead of main- taining equipment for peak loads, machinery is being reduced to meet the demands of average production and outside plants will be called on if | help is needed. The trend in build- |ing and automobile manufacture is keeping plants pretty well engaged, with independents operating about 10 per cent under the mills of the lead- ing interest. Operations on the Great Lakes have slackened. The tremendous grain cargoes shipped via Montreal have cut down tonnage going into Ameri- can bottoms and there has been a slight decrease in the demand for iron ore recently. Strenuous efforts are being made within the ofl industry to stop over- production, but similar efforts have been made in vain in recent months. The measures invoked must be proved legal first and then must have the vol- untary support of the producers be- fore they can accomplish the results sought. The temporary oversupply of copper seems to have been depleted, since buying has been brisk around the 13- cent level. Zinc production, it is felt, has been cut and this metal is strong- er. Lead is dull, There has been an in- crease in production, but a falling off in shipments and new business in the soft wood lumber industry, but this is expected to be corrected shortly. Unfavorable weather has impeded farming operations in some sections but this has been com- pensated for by fine growing weather, especially in the Northwest. The de- mand for agricultural implements and farm equipment is brisk in the South- west. . 4 Railroads are commencing to con- centrate rolling stock to handle the fruit and vegetable crops and concen- tration points will gradually move northward from now on until the end of the grain harvest in the Northwest next Fall. Car loadings are excel- lent and progress is being made to- ward culmination of some of thé mergers, The sugar market improved, owing to the threat of disaster to the Louisiana. cane fields from the Mis- sissippi flood. Textiles are looking up slightly and have been affected also by conditions which may grow out of the flood of cotton lands. Bankers and business men throughout the South are already organizing rehabili- tation corporations which will finance farmers after the waters subside. PRESENT BULL SESSION IN STOCK MARKET BASED ON CHEAP MONEY BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, May 14.—Stocks are still in the possession of institutions and indivuals with ample resources of cash and with reserve borrowing ca- pacity. As there are no trade, political or foreign complications sufficiently serious to cause liquidation, the mar- ket holds at a high level on the foundation of easy money rates. From the standpoint of speculative psychology the most significant fact is the defiant attitude market leaders take toward all unfavorable develop- ments here and abroad. This is often the mood of the market when it is ap- proaching its permanent top or com- ing to a temporary turn in its course. ““Trees never quite grow to the sky,” is an old saying in. Germany, where the application of it was to be found this week in the collapse of indus- trial securities that had been pushed to extravagant heights by a public that could see nothing ahead but steadily mounting quotations, Today many of them are penniless. It was this same disregard for actual values that led thousands into purchase of Florida real estate at the end of the boom in 1925 and ended in disaster to a majority of the late buyers. Invesiment Security Position Sound. ‘While the stock average Is high, particularly in that group of shares that reacts most quickly to stories of “hidden possibilities,” it is not yet on dangerous ground, so far as the securities of well managed and pros- perous companies are concerned. This distinction between the two classes of stocks should always be kept in mind in. analyzing the present mar- ket position. So long as money remains abundant and at low rates, there will be a re- sponse to it on the part of bonds, pre- ferred stocks and the shares of what have been classified as standard in- vestment issues. There_ is still a mar- gin of from 1 to 2 per cent between the yield on corporation mortgages and corporation common stocks. AS time goes on this difference is likely to_be narrowed down somewhat. Tnasmuch as the bull market is promised on cheap money, it is im portant that the elements in the cred- it situation should be plainly set forth. The obvious ones are that un- der the influence of small borrowings, hand to mouth buying, quick trans- portation facilities, and an enormous supply of gold, loaning rates for capi- tal have been slowly falling. This week it has been possible to borrow into next November at 41 per cent. Long money has been relatively easier than short money. In fact, at no time in the past 10 years has its rate been as easy as at the present time. Conversely, call loans have been quite firm on account of the heavy borrowing against speculative com- mitments in securities and to finance new issues of bonds and stocks. The expansion in banking credit in the last few years, built upon rising gold reserves, has been mainly to the advantage of the markets for domestic securities and to the forefgn borrower. Since January, 1925, the total in- vestments in securities of the report- ing member banks of the country have increased from $4,565,000,000 to $5,924,000,000, or 30 per cent in a lttle less than two and one-half years. Foreign Money Situation Different. Throughout Europe in the last two years it has bheen the policy of all banks of issue to reduce their dis- count rates as rapidly as expedient in the interests of trade. Business had stagnated under the weight of high borrowing rates. The same condi- tions have not obtained here, where money has been in greater supply than required to finance trade, There is no occasion then for the Federal Reserve Board to assist busi- ness with lower discount rates. The only value of a reduction in the rate would be to the security markets which already are high and week by week are drawing generously on this market, as the steady expansion in brokers loans proves. It would be of advantage undoubt- edly to Secretary Mellon in his refund- ing operations to have a rediscount rate of 3% per cent rather than 4 per cent, but not vital to the success of his undertaking. On the other hand, encouragement to greater specu- lation in stocks would eventually lead to disturbances affecting not only in- vestment and speculative markets, but general business as well. So, while the disposition abroad is to further lower rates of interest, it is becoming more and more apparent that the Federal Reserve Board is resisting not only the pressure from Washington, but from Wall Street interests, to reduce its loaning rate. Commodity Prices Declining. In the basic trades the tendeneies are in the direction of lower prices. Cuts have been made in pig iron and in steel scrap as a result of a dimin- ishing demand for steel products. Operations in some of the great iron and steel districts are down to 75 per cent of capacity. The unfilled orders of the United States Steel Cor-| poration at-the end of April were smaller than they have been since August, 1 In the automobile trade a large in- crease in output this Spring by some of the strong manufacturers compares with a seriously reduced production by others, whose earnings statements and balance sheets this year will make very poor reading for shareholders. The metal industry is unsatisfac- tory, though textiles, silks and leather trades have been improving after sev- eral years of bitter experience. Pack- ers and manufacturers of fertilizers are both facing a period of falling earnings. The building industry is slowing -down. Rents are falling. The Oil Situation, 1 The most serious conditions. are, of | course, in the oil trade. Whether | these can be corrected by the meas- | ures that have been recommended this week remains to be seen. It is doubt- ful if production can be sufficiently checked to stabilize prices where they will yield much of a profit to pro- ducers in the first nine months of 1927, | 1t is well to bear in mind, however, that no country has ever been per-| manently injured by an excess of pro- | duction in-any form. In the end it has all been absorbed. The astqnish- ing flow of oil in the recently open- ed Seminole area is another illustra- tion of the untapped resources of the United States and of its ability for generations to come to supply the rest of the world from its surplus commodities. While we are worrying because we have so much of so many things and are trying to regulate prices and distribution through governmental agencies other nations are employing every means for Increasing the out- JOHN POOLE, 15 President of the Federal-American National Bank, who has been elected general chairman of the Stockholders’ Association of the Federal Reserve Bank of Richmond. WALWORTH €O. PROFIT. NEW_ YORK, May 14 (R).—Wal- worth Co, and subsidiaries earned 35 cents a share on the common in the first quarter last year, net loss of $161,- with net profit of $128,000, in contrast to §1.26 a share in the preceding quar- ter, and net profit of $401,133. In the first quarter ast year net oss of $161,- 829 was reported. STEEL SCHEDULE. NEW YORK, May 14 (#).—Inde- pendent steel ompanies in the stown district are scheduled for e ting rate of 70 per cent next week, with subsidiaries of the United States Steel Corporation at between 75 and 80 per cent. BUILDING SLUMPING. SAN FRANCISCO, May 14 (Spe- cial).—The San Francisco Bay district has suffered a 9 per cent reduction in the number of building permits ap- plied for in late weeks, while San Francisco itself shows a 32 per cent reduction from the high point of 1926. Construction of small residences is still active. OIL IN VENEZUELA. NEW YORK, May 14 (#).—Oil pro- duction in Venezuela in April d creased to,4,275,063 barrels from 4, 704,362 in March. The output in April last year was 2,953,436 barrels. Pro- duction for the first four months this year moved up to 18,260,261 barrels from 11,025,093 in the same period of 1926, with shipments of 14,267,135 bar- rels against 10,029,992, POTATO MARKET STEADY. CHICAGO, May 14 /#).—Potatoes— Receipts, new, 22 cars; old, 77 cars; on track, new, 70; old, 161; . total United States shipments, 791; Can- ada, 67 cars; old stock supplies, mod- erate, demand and trading limited; market about steady; Wisconsin sacked round whites, 3.25a3.40; mostly 3.30a3.35; Idaho sacked russets, 4.20a 4.50. New stock, supplies moderate, demand and trading limited; market stronger; Alabama-sacked Bliss Tri- umphs, 4.50a4.75. SELLS EXCHANGE SEAT. COTIONIS STEADY, SLIGHTLY LOWER Covering and Buying on Liv-| erpool News Absorb | Initial Offerings. By the Associated Press. NEW YORK, May 14.—The cotton market opened steady today at an ad- vance of 5 points on May, influenced by relatively firm cables, but gener- ally 1 to 4 points lower on better weather reports. There was consid- erable week end liquidation with some Southern selling, but covering and buying on the better showing of Liver- pool was in sufficient volume to ab sorb initial offerings. The market was comparatively quiet and steady at the end of the first hour. July sold off 0 15.62 and December to 16.15. Private cables said hedge selling had been absorbed by trade calling with London and Manchester buy- ing in the Liverpool market. New Orleans Market. NEW ORLEANS, May 14 (@) slight rally in early trading on the cot- ton market was followed by a decline owing to reports of beneficial rains in the Eastern belt, particularly in Ala- bama. July traded down to 15.59, Oc- tober to 15.87 and December to 16. or seven points below yesterday's close. The market then became quiet pending receipt of the April consump- tion total, which proved disappointing, reaching only 619,940 bales of lint cot- ton. The report had little effect on the market, however. BUILDING IN NEW YORK. | NEW YORK, May 14 (). —Building | contracts awarded in New York in | April are put at $87,955,700 by F. W. | Dodgo Corporation, a_decrease of 30 | per cent from the total for April, 1926, but 29 per cent more than in April, 1925. The month’s figures were 2 per cent less than in March. SELLS LAMP COMPANY. | NEW YORK, May 14 (#).—Detroit dispatches say the Hall Lamp Co. has | sold the Canadian Lamp & Stamping Co. to a new corporation, the nadian Motor Lamp Co. SILVER QUOTATIONS. : NEW YORK, May 14 (#)—Bar sil- ver, 56; Mexican dollars, MONEY TO LOAN First and Second Mortgages PAUL D. CRANDALL Investment Bldg. Room 611 A RENT A BOX —they are very reasonable! As little as five dollars a year. FEDERAL-AMERICAN NATIONAL BANK In Nearby Virginia Prudentiai 5 1/2 % lnrl‘lllr::f: Co. ans Commonwealth Investment Co. 917 15th St. N.W. Phone Main 2623 NEW YORK, May 14 (#).—The New York Cotton Exchange seat of Thomas J. Beauchamp has been sold for $20,000 to Edward E. Bartlett, jr., for another, an advance of $500 over the previous transaction. NS SE! G LICENSES. NEW YORK, May 14 ()—Com- merclal Solvents Corporation is sell- ing licenses in Europe for the manu- facture of its products, Vice Presi- dent Burton said on his return from abroad. . COTTON GOODS QUIET. NEW YORK, May 14 (Speciall— Cotton goods market closed the week quietly with print cloths quoted un- changed at 7 cents for 64x60s and 81 cents for 68x72s. Raw silks were steady but slow. —_— DIVIDENDS. Pe- Par- Stock ot riod. Rate, able. s-a $1.75 June 28 X June 2 Aug. 15 50 Auk.15 4 % July 15 %0 July 15 July % July June ay 3 July T1 July 11 June 30 June 30 June 15 June 15 May 20 May 13 June 3 ik 8 ang 9 1 Sepi.z0 Motor Wheel Ogilvie Flour M p Parafline C n ‘75 June 27 Stan'd Oil of 1M (In) 2 Obllo @ $2550 July . Have Yon Been Stung Yet? Some men have to get stung good and hard before they learn to be cau- tious in making investments. Before you invest—invgstigate! o CHICAGO STOCK MARKET. By Special Leased Wire to The Star. CHICAGO, May 14—Following is a report of today's sales, high, low and closing quotations on the Chicago Stock Exchange: Sales STOCKS. 150 Adams Royaity Rad . High. Low. Close. 40 B4, 24% 300 Armour B 50 Armour D 485 Armour TIL pf. 72 Agsoc Tnv Co.. 700 Auburn Motor & Katz g0 03 264 S West.. 601y W P L pf 1 50 Cont 8 O W pt. . 200 Ghi it & © 00 Chi ¥use 10 Chi NS&EMER ' i 48 Comu P&L, 2d vt Mot. . 23% 30 138 g, ; 5 Fitz_ Connell...". 500 Gen Box com.. .. 13% 300 Hammermill Pap. 156~ 155 135 Hubp Motor..... 1 ) Ky Jr P 100 Lindsay _Ligh §00 Lindsay L., ol 250 Mid West Uil b 360 Montgom Ward., 1 700 Montgom W A 125 Nash i tomEE e o e SSRCRENES A8 ot Sio i oy S e EEE et tidouonn B .,. ' fanseey R EFRER put of their factories, farms and mines, o 1 May 20 | { WE FINANCE —all classes of Income-productng nroperty. Large Lfllluml Specialty Curpent int rate and misston Higbie Inc. 816 15th St. N.W. G@ PHYSICISTS PASCAL 1623 1662 LAISE PASCAL found that pressure ap- plied to the surface of a fluid is transmitted equally in all directions, area for area. To illus- trate—if you were to exert a few pounds of pressure cn water inter- mittently by means of a small piston, you. could raise an_elephant on a larger piston by trans- mitted water pressure. Many _physical phe- nomena find analogies in finance. By regularly putting down a small por- tion of your income you can raise a tidy fortune that will afford you finan- cial protection. First Mortgages offered by Swartzell, Rheem & Hensey Company can help you because they com- bine attractive yield with high margin of safety—no investor suffered loss in over fifty-eight years. Swartzell Rheem & HenseyCo., Bankers 727~15% St.NW. FINANCIAL. HESSIAN FLY NEWS GIVES WHEAT BOOST Strength of Corn Also Bullish Fac- tor Today—Unfavorable Crop Prospects Reported. By the Associated Press. CHICAGO, May 14.—Increasing re- ports of Hessian fly danger in Kan- sas and of unfavorable crop prospects n Canada gave wheat an early upward slant today. Strength of corn s also. a bullish factor, July and September corn reaching the highest prices yet this season. Opening un- changed to 33 higher, wheat later showed gains all around. Corn started 1% off to 14 up, and then made a sharp general advance, September rising to well above 90 cents, with oats and provisions firmer. Kansas reports at hand tod indications are that this will was asser wheat straws will fall from now until harvest, but that the bulk of the dam- age will show in the next two weeks. One Chicago crop expert, telegraph- ing from Hutchinson, Kans, today, said that from Hutchinson to Anthony the Hessian fly is very numerous, many flelds being as badly infested as he had ever seen. Another au- thority wired that the Hessian fly is present over a large territory, and that extensive damage Is possible, but that definite results cannot be deter- mined at this time. . NEW YORK MARKETS. NEW_ YORK, May 14 (P).—Rye, firm; No. 2, Western, 1.2215, f. New York and 1.20% c.i Barley, easy: maiting, 1.07%al.10% c ew York. Pork, weak; mess, 34.00; family, 37.00a35.00. Wheat, futures opened steady; domestic, July 1.38%. Other articles’ anchang 2 Prompt Action First Mortgage Leans| Lowest Rates of Interest and Commission her & Company, Inc. Provident Mutual Life Insurance Company Funds to Loan In Small or Large Amounts at 63§ Per Cent. WM. H. SAUNDERS CO., Inc. 1433 K St. N.W."™" Main 10167 i TRUST NOTES On Hand Bearing 6 1-2 Per Cent and 7 Per Cent Interest In Amounts of $250.00 Up See WEI y r 15th and New York 2 N adg AT Established 1899 o an inves 2 oney Secured by first Prevallis Joseph (i Mortgage Money Loaned At Low Interest Rates Economie_Conditions Tyler & Rutherford Loan Correspondent Mutua) Benefit Life 1520 K Street = Main 475 of trust on seat estate nd com 0 Wash T2 & Trass Bide. 9th & F. N.W. REAL ESTATE LOANS BUSINESS. APARTMENT. CAURCH. HOTEL. THEATER. RESIDENCE. AND GARAGE PROPERTY. CONSTRUCTION LOANS. FRED T. 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Safe Deposit Boxes at Nominal Annual Rentals OFFICERS: WILLIAM D. HOOVER, President. WOODBURY BLAIR, 1st V. Pres. FRANK W. STONE, 2nd V. Pres. FRANK STETSON, Trust Officer. CHAS. C. LAMBORN, Treasurer. E. PERCIVAL WILSON, Secretary. Washington,DC. OPEN UNTIL 5:30 P.M. MONDAY MAY 16 - National Savings & Trust Co. 60th Oldest Savings Institution in the District of Columbia Year Cor. 15th and New York Ave. : Capital & Surplus, $3.000,000.00 Make Us Custodian of Your Payday Savings Years of conservative management and suc- cessful banking have won for this institution, the confidence of over 47,000 patrons. QSurely such a widely indorsed bank will prove a satisfactory custodian for your Pay- day and other funds. Same Rate of Interest Paid on Large and Small Accounts DIRECTORS: prorALey !'Ai HANE. €. Cl |8