Evening Star Newspaper, September 11, 1927, Page 95

o o T-‘YNI\NCI_/\TJ_.‘ WASHINGTON, D. £ TEMEL 7 11, 198% FTINANCIAL. WIS HOLD EDGE - INSTOCK TRADING Responsibility—Character Also Is 1 31 Money to Loan trust on real estate and “commission, 420 Wasl Bldx.. 9 AL ~ WE FINANCE classes of income-producing oroverty Large Loans a Specialty Current Int rate and commission * Higbie & Richardson, Inc. 816 15th St N.W. THE SUNDAY STAR: | BOND SUMMARY FOR THE WEEK |ABILITY OF BANK DIRECTOR I’% KE]%P;?NBES#II(\I_Ffl NN L e e 1 OUTWEIGHS TRADE THEY BRING 10311 1037 103 10 Stock Dividend Included in HAS FAVORABLE BALANCE. NEW YORK, September 10 (A).— Foreign trade of the Soviet Union for 10 months of its fiscal year ended August 1 over the European frontlers shows a favorable balance of $37,696,- 455, the Soviet Union information bu- reau at Washington reports. Exports increased 17.7 per cent over the pre- vicus corresponding period, and im- ports decreased 13 per cent. Agricul- tural exports were $207,000,000, a gain of 17 per cent. Industrial ex- ports gained 19.5 per cent. Grain ex- ports advanced 35.9 per cent in value Hih ‘H\l‘.f‘v {1032 101 21 {1015 100 13 {10117 100 25 101 21 100 23 103 18 101 2 104 12 103 13 ‘uom 1059 11431 110 5 | —1028— { High Low 10 | 1004 99% U. 8 BO Liberty 3138 193 Liberty Liberty Libert A%s 1 i Liherty 4th 4151933 8. asury 4% s 194 Low L 101 25 100 23 103 30 102 23 1014 1008 99 19 —all 104 4 103 31 10 1411 11 i Prev week's Close. 99% ;Placc on Board of Institution One of Great High 994 Lo 994 FOREIGN Studebaker One of Day’s 100 18 100 12 100 17 15 1012 101 Plan—$500,000 Amount Directors Favor. BY EDWARD C. STONI Officials of the Mount Vernon Savings Bank announced yesterday that the bank is planning to increasc its present outstanding capital 1 $160,000 to $500,000, $400,000 of which shall be immediately outstanding a t the remaining §100,000 kept in th treasury to be issued later as n The proposal also contempla declaration to present share a stock dividend equal to of their holdings. Notices signed by T llam Muehleisen and calling a spe- clal meeting of the bank’s stockholder: on September 22, at noon, were mailed vesterday. In explain the im- portant move, the Plan Explained in Detail. “This meeting is called at the re- quest of fhe hoard of directors fo the purpose submitt to t stockholders an amendment to section 4 of the bank's ¢ der the provision of s it now stands, the author 11 of the bank is $200,000. authorized capital on $160,000 has been sold and that is the amount of the pres- ent outstanding capital. the Iders of per cent resident ‘Wil- i 10 110 10! [ 10! | 105 104 | 1061 | 100 10514 1084 ecoded. | 106% 103 1075 o 9. | 1945 | 00w 1116 109% 991 8714 941 114% 1 119% 104 1062 1 98 106% 1 106 1 119 1 10t ) 106% 10 024 81 03 17 1087 102 97 997 114 1064 197 Austria 18 1943 Beigium B8 19 Belium 71 19 Relgium 8s 1941 Brazil 81s 1957, Brazil 83 1911 Canaa. nada 5165 1 “hite 85 1941 “hile 85 19464 “hinese Govt Ry bs 1 “openhazen 5% s 1944 “zéchoslovakia ¥s 1951 Denmark 68 1932, Duteh East Indie Duteh Erench ( French ( rench ( erman Hol 85194 over IVt Thes 1941, S 1949, ss can s £ 63 1947, Japane: Jergens Utd Nether Norway 5%s........ Parts-Lyon Med 6s 1 Poland 88 1950. ... . Queensiand 7s 1941 Rhinethe 7s 10 de Janef e 61 o Laalo ine Dept ot Serbs, Croats, Slovene: Sweden s 193 1020 8 1164 1€ 1010 10512 984y s 930 111 1134 s 88 1962 tate of. §5 1938 ... Necessary Attribute. | make mond, and paid them out of | pocket. r, that this was done with the 1 and consent of the bank ex- | s serions duties < which they assume on | hov ler o» 1 repeated each | D after election and am the duties of office. | should be selected lity, reliability and 'y econsideration lity to get business and | € bank, as a par o, 11 ey par secondary | | cay wit rec th that a of as are subscribe to { | Gath of Director. 4; | | | gned, directo 1 under . located the devolv 1y duty or their charge own wev oV iners, Heavy Losses S In December, 1921, the banking de- ordered about This charge-off impaired of the bank. comtroller’ were these doubtful tment oft er ital h the tors 844,000, ent to cover t idence also showed that in 1920 capital stock, Numerous the sion in s under been the gamut n, were evidence he judge in the Superior Cou Niag ara Cou pe whic tock creased from §1 that the dire one { new tor exception, did take some of the other of omi made i the president with a pricon record, | | | nty items of negli; » numbe 80 by said statutes, by me or standing in ¢ name on the books o/ the said wtion; that the same is Sthe . or in any way r any loan or the eribed ind jury to 1tion idently | 1y, for judgmen (100 were rendered against directors in ividual ca; decide the the It was shown, stained. to of | the | reement office, the di- rmitted to purch from the bank as found to be e impairment of {he directors $50,000 worth h of the bank was in- | 0,000 to $300,000 and s of the bank, with | charg running | sion and commis including dama the char: nst of ted many and told whether the in- had made ¢ or not. ided adverse- | rying from $6: H‘-" directors | of a prompt over-subscription of the | earli Features—Rails Sluggish. Foreign Exchange Easier. By the Associated Press NEW YORK, September 10.—Con- structive forces brought about a brisk recovery i today's stock market. For the second time within a fortnight, a one-day reaction yesterday proved suf ficient to correct, at least temporarily, the top-heavy speculative position created in the recent rapid advance. While today’s advance was by no means uniform, it enbraced a wide va- riety of issues, with the gains running from 1 to nearly 6 points. Speculative uneasiness over _the credit situation, which developed as a result of the stiffening of the call money rate to 4 per cent yesterday, was allayed by the announcement new Government financing, the large e weekly ¢ From a tr gain of 54, and by s reserve shown in the ng house statement. announcement of a tons in_the August unfilled ordes of the United States Steel Corporation, made public after the market closed. Cotton Has Break. Outside of the stock market, chief interest centered in the break of about $1 a bale in cotton, wiping out practically all of the gain recorded - in’ the week on the publication and 13.9 per cent in quantity. Ex- ports of oil products went up 24 per cent, but flax exports dropped more than 50 per cent. CONSTRUCTION INCREASES. NEW YORK, September 10 (A).— August construction contracts in 37 States east of the Rocky Mountains are calculated at $552,457,900 by F. W. Dodge Corporartion, an increase of 3 per cent over July, but § per cent un- der August, 1926, DIVIDEND IS CUT. NEW YORK, September 10 (#).— Yokohama Specie Bank declared & semi-annual dividend of 5 per cent against the previous semi-annual dis- tribution of 6 per cent. A substantial addition was made to surplus account. Balance sheet of June 30 shows an in- crease of 4,000,000 yen in reserve fund, now totaling 96,500,000 yen. Capital was 100,000,000 yen. A balance of 6,179,045 yen was carried forward into the next half year. OPENS ANOTHER STORE. NEW YORK, September 10 (#).— Sears Roebuck & Co. has opened a re- tail store in Milwaukee, making 15 retail stores in operation. Its six- teenth store will be opened in Chicago next Saturday, and another is planned for Minneapoli: In Nearby Virgini B2, 0F treten, nsurance Co. 2 /0 Loans Commonwealth Investment Co. 017 15th Nt. N.W Phone Main 2623 Sales Manager for Securities Write About Yourself Well Known Company Address Box 185-V Star Office We will gladly receive and give prompt attention to applications for Loans on Washington Real Estate “The directors find that the husi- ness of the bank has grown to such | proportions that the present cut- | 105 standing capital is no longer adequate | 101% and in the judgment of the directors|109 the authorized capital of the bank |10 should now be increased to $500,000 9874 and of this amount $400.000 should | 102% be immediately outstanding, and the | 104% remaining $160,000 kept in the treas- ury to be issued later as needed. | “In order to accomplish this result | and to ecqualize the present stock- | holders with the purch of the | new stock, it is proposed that the present outstanding capital of $160.000 | be increased by a stock dividend to| the pre stockholders of record | equal to 25 per cent of their holdings. T dividend will the total capitalization to $200,000. *“It is then propesed to sell 2,000 ad- ditional shares of stock in the bank at $160 per share. which will bring in @ tota’ of $320.000, of which $200.000 will be added to capital ac- count: thus making the outstanding capital $400,000, and the remaining #2120,000 will be placed in the surplus account. Each present stockholder will be given the right to subscribe for one share of the new stock for| each share of the stock now owned | by him. “T'nder the law, a bank may loan to any one individual or corporation a sum equal to 10 per cent of its capital and surplus. Thus the loan- ing ability of the nk will be more than doubled and its scope of business very much enlarged.” Bank’s Present Official Staff. The Mount Vernon Bank, at Ninth atreet and Massachusetts avenue, has | Jong been enjoving steady growth. Not | Jong ago it practically doubled its floor space on the street level. The officers include: R. Golden Donaldson, chairman of the board; Williag Muchleisen, presi- dent: Claude H. Woodward, executive vice president: William H. Johnston rand Emmet C. Davison, vice pre dents; William R Baum, vice pres dent and cashier; Robert T. Hig] T. Bdwin Norris.and Frank W. assistant cashiers; Leo E. controller, and ~Hayden counsel. Association Bulletin Appears. The September Bulletin of the Dis- trict Bankers' Association appeared from the press yesterday and is now on its way to members. The Bulletin publishes the recently announced com- mittees which will handle the impor- tant work of the organization during the rest of the present year. It con- tains many other important announce- ments and notes the fact that the asso- ciation headquarters are being beauti- t fied by some much-needed paint. Deep regret is expressed over the re- cent death of Samuel G. Eberly, a director and vice president of the National Capital Bank. Resolutions paying tribute to his memory will be offered at the meeting in October. Considerable space is devoted to ‘Washington Chapter and Institute] plans for the coming year. Attention is called to the new courses in analy- sis of financial statements and busi- ness forecasting, and the announce- ment made that last year’s subjects will again be available to junior bankers. North American Common Active. In connection with recent large vol- umes and rising prices of the North American common stock, Frank L. Dame, president, say “For some , time past we have had a_number of requests from important banking in- terests, representing European invest- » ors and institutions, concerning the North American Co., and out transfer yecords more recently have indicated se in purchase of our common stock in behalf of investors and insti- tutions in Canada and Europe. J. t Henry Schroeder & Co. of London , have reoently acquired a substantial amount of the common stock for indi- wvidual and institutional investors in Great Britain.” Convention Faces New Problem. Growth of the bank holding com- pany in America controllin; operating chains of banks throughout the country will probably come up for | discussion at the coming convention at Houston, Te. was forecast by Thomas H. Birch, \ president of the st Co. of North America, in discussing the future of the banking business. “We v seen a big development in banking, id Col. Birch, pank holding corporation sit its field, similar to a prhitc utilitie holding company such o rtheast- ern Power, is no longer a theory, the most prominent example being 1l Baneitaly Corporation now with terests in New York as well as in California. “The reachin munities and b of a reduced Government crop esti- mate. Today's selling which sym- 3 pathized with the weakness of the Baltimore Markets. Liverpool cotton market, was in- spired largely by reports of better weather in the cotton belt. United States Steel common, after opening fraction lower at 153% was run up to i55%, closing ju low t level for a point. General Motors vanced to within vear's peak of down to 249%, up 1 duplicated the year’s high | by jumping more than 5 spite Irenee Dupont's company had acquired any | ‘S ites Steel common stock since the original purchase of 114,000 shares a couple of months ago. i ude was one of the da ures, moving up 3 points to a ne 1927 top at 613. Associated D: Goods, Bush Terminal, Detroit Edi son, Muilins Body and United Fruit were_among the dozen or so other ssues to reach new high ground, while Briggs Body and Gulf States I sank to new lows. | Ttails continued rathe though the average of 20 leading is sues closed practically unchanged on 'RIAL A LLANEOUS Amer Auri Chemical 7%s 1941... Amer Smelt & Ref 1st Amer 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. (affirmed) ned - this ind sworn the under . day of REAL ESTATE LOANS 5Y,% FRED T. NESBIT 1010 Vermont Av Main 9392 103t 100% 109 1074 105% 104% 100 98k 104% 101 1047 103% 1091 106% 88 1004 106% 96% 1054 102% 101l 984 10147 101% 107 10 "' Notary Public of the Duties, of al 10wlec made Home BALTIMORE, September 10 (Sp cial). osing grain quotations— Wheat, No. 2 red Winter, s | No. 2 red Winter g Corn*~Domestic, N corn, 5.50 per bar No. white, spo white, spot, 54 nominal. nk director to | of the loans | d how of eredit the s of is or should be informed ectors ter of the past week, or and the reason the duty 1014 Uy 102% gh Anaconda Cop Armour & Co 43 Armour of De Atlantic Retining deb . Barnsdall Corporation 6s 1940, Bell Tel (Ia) ref 53 1948 Bethlehe: eelpmds . Bethlehem Steel s £ 63 1948 .. e ate, d be informed regard- Detroit ret Bs 1940 108 | a1 ~ loans of his fellow directors Dodge 6 1 ; ; ore closely than of other Lastern ank officials and directors % 105! make credit applications a 108 1ot but Washington's leac 204 ions prefer that their ¢ 1015 sjals should use their 105% 103% when in need of credit. 1035 an them what they are en- 101% 1 no more. It would be 108% we numbered 102 in whom we \ matters and 108 103% a director” | rules generally easy at 2.00 to i + " of. | navrel with No. 2 stock selling mostly 108% 1024 105 - 102 S h of their of r 0. 2 0 971 p: Sva avaPetitied to all informa. | half price. Stock must grade No. 1 I | o ) = o Leredit rat.| to bring top values, however, as all | pi® m}“"‘,d‘q’p and Lake Erie pre- 1% “i< neces- | small or irregular stock is hard to |y ”_‘_mn“l‘“_m"“!lN_H”_t s on two sales. 105" 106 3 be in. | move, while culls are not wanted at | o drop of about 15 potnts tn Jeramias B EETy e ImppElimbaiati s | ST DANE, yen, which were again quoted below ki e L e Truck Demand 41 conts, as the only eature. Sterling H iture of the bank nor can the dl. . e cables ruled around $4.86 3-16 and 3% 99} he responsibilities they | A demand prevail 6 and Lo o9 the responsibilities they | A fair demand preval nes held steady just below Tobks 102 but prices generally the market riles easy quotation; | 10 75 basket; beets, 2.00 2.0 (01d stock) fraction of the = W% BUICK BRAKES Dupont at 316 Foot Brakes Relined Complete 2 Wheels, $9.00 4 Wheels, $16.50 Guaranteed Ono Year Auto Brake Service and Ford Band Co. 425 K St. Fr. 8208 Brakes for all cars at Great Savings Al at | to loan: as Rye, nearb, 9% ¢ 102 86 100 2% 108% 1074 97l 92 104% 101 105t 101% 107 104 > 119k 10l 105% 1024 98 84n 98 H1'4 108 10 100 964 105 102% 103% 105 98 108% 100% 118 114% 106% 104 99% 97 110% 107% 100% 9 100% 97% 102 98T 1037 4 103% 104% 100 99% 93% 1013 100% 1073 103% 95%: 91% 108% 105% 108% 105% 99% 95 G Market for white potatoes continues to holfl steady under moderate receipts from all sections with a good der ling for well graded stock, well { potatoes are not desirable and all offer- of such move slow even difference in_ price. nd and Virg G. M.-P. MURPHY. & CO. Members New York Stock Exchange Buccessors to JOHN L. EDWARDS & COMPANY A copy of our Fortnightly Review sent on request 1416 H Street Northwest ban institu other ing Goodrich (B F) 6% Goodyear Tire 85 1941 Humble Oll & indiana Steel 58 19 Inter Mer Marine 63 1941, Inter Paper 5 A 1947 bank bringing 1.50 to 2.00 for stock sells mostl; nd condidion. Demand for potatoes and yams continues 1 | under fairly liberal receipts the r own 0. 28 which bushel 97 99 991 sweet ht and on Laclede 5%s....... & sluggish, al- Lizgett & Myers bs 1951 atl rsflls 1942, WE PAY MORE INTEREST ON SAVINGS ACCOUNTS Than Any Other National in Washington o Interest on DAILY Balances Come in and let us explain Commercial Nat'i Bank lith and G Streets Resources, $17,000,000 R. GOLDEN NONALDSON. PRESIDE to th It i 105 115 109 100 109% 102 10344 104 102'4 102% 104 104 108 106% 99% 100% 4 100% 1004 Tia n horrower s the dires N Y Tel4tes1939... N Y Tel 6s 1941 Northern States Powe Pacific Gas & Elec 5s 1942 Pacific Tel & Tel 5s 1952, Pan-American 6 34. ... Philadeiphia Co ref 631944 Public Service 6s 1944 Sinclair Ol 75 1937 Sinclair Crude O1f 6s United Drug 68 1944, U S Rubber 1st & ref 58 1947, U S Rubber 7145 1930, U S Steel s £ 53 1963, Utah Power & Light 53 1944... Warner Sugar 7s 1939, Western Union Tel 6%s Wilson & Co Ist 65 1941. ... RAILROAD. Atchison I' & S e gen 4s 1995, . Atlantic Coast Line 1st 4s 1952 Balto & O 1st gold 4s 1948. ., Balto & Ohlocv 4%s 1933. . Balto & Ohlo ret 5s 19395 Balto & Ohio 65 1929 . B&OPitts L E& W Va 45 1941.. B &0 Southwestern Div 5s cfs 50 Brooklyn Manhat s t 68 A 1968... Canadian Northern 6%s 1946.... Canadian Pacific deb 4s.. . Central Pacific 4s 1949 Chesapeake Corpnss wi.... . Chesapeake & Oniocv 4%s 1930, . Chesapeake & Ohio gen 4 4s 1392, Chicago & Alton 3%s 1950....... Chicago Bur & Quincy 43577 B, Chi B & Quincy Lst ref 5s 1971, Chi & Eastern L1l gen 5s 1951 Chi Great Western 48 195 Chi M & St P deb 4%s 1932. ... Chi M & St Paul gen 4 %s 1989, Chi M & St Paul ref 4%s 2014. Chi M & St Paulcv s 2014. . Chi & Northwestern 6 %s 1936. Chicago Raflways 5s 1927 Chi R 1 & Pacific ret 43 1334, Chi Union Station 4% s 1963. Chi & Western Ind con 4s 1952 9 - 4 CCC&StLret 6s A 1929 5 ¢ Colorado & Southern 4% s 193! 9 Y 1 Cuba R R 581952 J Del & Hudson cv 55 1935 Den & Rio Grande con 4s 1936, Den & R G West 55 195 Detroit United 43%s 1932, Erie 1st con 4s 1996. Lrie gen lien 45 1996 Lirie cv 48 A 195, Lrie cv 45 D 1958 Fla ECbs74.. Grand Trunk s £ deb 6s 1936, rand Truni 7s 1930, Great Northern 4%s 1976 jreat Northern gen 5'%s 1952, Great Northern gen 7s 1936 Hudson & Manhattan ref 5s 1957, Hudson & Manhattan adj 58 1957, Lilinols Central 4%s 66. Inter Rapid Transit 63 1966 Inter Rapid Transit cv 7s 1Y Inter & Great Nor adj 6s 19 Kan C Ft Scott & M 4s 1936 Kansas City Southern 3s 1950, Kansas City Southern §s 1950, Lake Shore 4 1928 Lake Shore 4s 1931 Louis & Nash unitied 48 1940 Louis & Nash 1stref 5%s 2003, Mil Elec Ry & Lt 1st ref 5s 61. stater MSLP&SSM6ls 1931, . the b Mo Kan & Tex Ist 48 1990 Y 9 X " r Mo Kan & Tex adj 5s 1967 natior Mo Kan & Tex pr in s A 19 r by Missouri Pacitic gen 48 1975, . all New York Cent deb 48 1934 New York Cent ref 1mp 53 2013, New York Central deb 6s 1935. New Haven deb 43 1957. .. .... N¥ N H & Hcvdeb s 1948 Y West & Boston 4%s 1946, Norfolk & \Western con 43 1996. Northern Pacitic 3s 2047... Northern Pacitic 45 1997, Northern Pacitic ret tmp 68 2047.. Ore Short Line ref 4s Ore-Wash 1stref 4s 1 B Pennsylvania gen 43%s 1965, usylvania gen 5s 1968 Pennsy (vania 6%s 1936 Peoria & Bastern inc 48 1990, . Pers Marquette Ist 53 1956 Reading 4 1997....0. Rio Gr rnclt 43 1949.. RIArk & L 4'%s 1934 tLIM&SR&G 451933, . UL & San €ran prin 4s A 1950 th an Fran prin 5s 1950. an Fran 5l%s D 1942 n Fran ad) 63 n Kran tne 6s LP K CS Line 413 1941, 1board Alr Line ref 1959... aboard Alr Line adj 58 1949 Seaboard Alr Line con 6s 1945 Southern Pacific cv 48 1Y outhern Pacific col 4s 194! outhern Pacific ref 4s 1955, uthern Ry gen 4s 1 uth Ry 1st Southern Ry dev § Third Ave ad) 5 1960. .. 6174 Union Pacific Ist 45 1947 . uT4 Virginian Ry 15t 58 196 107% 1071% Wabash 1st s 193y 101% Wabash 5% 1975 1054 1051 B Western Maryland 4s 1 . Biw B 100% 9 \ rn Pacific 58 1946, .., ees 10U RO 90 sUShore 1st 45 3364 Wi 897 ¢ | in most lin cor t the following reen beans, 60 3.00 per 10 24,00 per 100: , T3al. lima weekly clearing house state- ment showed excess reserve of $5 356,900, an incre: of - $39,254,670 ahove that of the previous week. Ag- gregate reserved totaled $683,676,000, The detailed statement of actual con- dition this day showed increases in all of the principal items except time de- posits, which dropped $2,450,000. Loans, discounts and investments in- creased = $57,767,000; cash in own vaults, ,000; reserve in the Fed- zl"’fli;;e\.;;\(x)\e Iézmk of member banks $42,810,000 and net 1 $12.810,000 demand - deposits, nd constant demand for — quality for which buye: ite to pay a premium over | 11 eggs of doubtful qual- ow Serious are imposed for neglect the suils that may It for various neglects r te important amour ockholders may hold the direc : tockholders and directors ubject to heavy assessments. on 100% | their stock holdings in the event of ol inability to pay depositors in full, | A bank in process of liquidation in 10} Jolt, this ity forced to mect a 33 13 " J ‘{ 1 ssment on the § holders: Celcbrated Gene Case. Ge National Bank of Ge- contr to the usual of banks in like position, had without loss to depositors, the on the stockholders. sctors followed, | 52 Broadway, New York Richmond, Va. orn, 10220 do; basket; eggplants, 35240 b beans, 60: onions, 1.50a2.25 per 100 ; péappers, basket: spinach cet: squash, 30240 basket; to- 0230 basket; packing stock, 105 1081 | @ The New York Life Insurance Company Offers to Make First Mortgage Loans On Improved Real Estate in the District of Colum.bia and Nearby Suburbs in Montgomery ~ County, Md, for 3, 5 or 10 year terms on your 5% N Apply RaNDALL H. Hagner &.Corpany MORTGAGE LOAN CORRESPONDENT 1321 Connecticut Ave. Telephone Main 9700 receipts of native and nes athe rket o good neva, run falling 97'% 100% 104% 100% 103% 102 quotation | ity, however, even at sharp discounts and shipments and careful grading . First Mortgage sary to command top values Loans The market closed today at 35 cents | a dozen for firsts in free cases, an in- | fl} % i ? Apartment crease of 3 cents a dozen over opening Applications Invited at prices Monday and 33 cents a dozen l/ for current receipts which is also an | On Improved Property ally prompt are | 103% 102% 93% B9% 102% 98 99% 92% 118% 116% 867 80 104% 1013 101% 95 119% 117% 864 3% 9% 91k 99 95 101 99% 100% 97 [ 61% 100% 97% 107% 105% 90 80% 1% 69% 68 56V 93 69% n the performance of Office Building Business Property ‘and permitting the prop- the bank to be wasted and C wdered, Perm'tting the accounts of the bank to be kept, with incom plete Home 1007 99% 6315 100'% 107% 90 254 increase of 3 cents a dozen. Poultry Market Steady. The general live poultry 1 rules steady to firm under a fairl good demand for large fat stock, bu Small, thin fowls are slow salo at in- : de prices and shipment. of this sort Construction Loans not advisable as it tends to lower | at Minimum Rates the value of the better stock. Spring | ns, 2 pounds and over, clean up Glover fs? Flather 1508 H St. N.W. persons to | i t i o overdraw their ac | Negligently loaning moneys of the nk to irresponsible persons without ive and illegal amounts to irresponsible prties. ot malding accurate and truthfdl ports of the affairs of the bank. crmitting excessive loans to frre- sponsible persons to be concealed and permi such concealment to ied into th rds of the b ;lecting to make complete wrate examinations of the bank at 24 to 27 a pound, but small- and Leghorns are not so ac- | With the approach of | holiday, demand for old is showing an improvement, but be large and fat and not 1, pounds to bring top values 1 lighter fowl and Leg- 1y slow sale at in ample supply at 14 | 187% 103% 101% LET US FINANCE YOUR HOME LOANS To Run 5 Years No Annual Curtail 51,9 Interest WM. H. SAUNDERS CO., Inc. Main 1016 1433 K under of 20 to 26, horns are e 18, Old rooster to 16. | Demand is good for large fat ducks 4 pounds and over, which clean up readily at 20a22, but smaller, as well as old ducks, are slow sale at 15als. Demand for guinea fowl and values show a decline s each and shipment of birds under 1 pounds not advisable. Pigeons co tinue to hold steady at 20a30 a pair | for both young and old. Cattle Prices Very The general live cattle market rules | very firm under light receipts, pecially beef cattle and des weight calves. Market on the: lines is very firm and all first-gi: stock meets with ready sale at full values, but all under grad > at low and irregular price ations today at Light street wharf Beef cattle, first_quality, pound, 10; common to medium, 5a8: bulls to quality, 6a8; cov choice to fancy 6a8; common to fair, 4a5; oxen, as quality, 6a8; milk cows, choice to fan- cy, per head, 50.00a75.00; common to fair, 30.00a50.00; calves, veal, choice, | pound, 1415; large, fat, 10a12} e rough, $a9; rough_and commo sheep, choice, 4a5; old buc lambs, Spring, choice, 13213 good, 10a12; common, thin, Ta ght, 10a11; sows, Tad; stags e pigs, 13al5; shoats, 10a12 ccting to give the business proper ca nd at- fon and failure to administer its faivs in a careful manner. Dii 122% 108% 5% 62 20 i tors Deny Guilt. The directors replied with den charges and demanded a jury trial. plaintiffs offered objection, but a e Court judge issued an order ues in the e and au- trial on charges of cessive loans. i Off as Losses. the action, Justice yresiding, the stocl fs, put in evidence notes, gating had been given to stomers, and proved of these notes had the books of the 84 w91 108% 106% 116 114% 944 100% 108 106% S16% 1lih EL 109% 102 115% 110% 98% 924 B4 oW BOW 62 100 85% 56 66 93 B9% I Y9% 99 8 96'% 1105 1 98Y% 104 Notes Ch: % 100% Upon_trial y 2. 9 r. Hil . as plai number of 00,000, which the bank by its ¢ that the nount heen ed " off bank The books meeting: by-law of —on improved D. C. property at prevailing rates of interest. 1004 L% See Mr. Field Hedges & Middleton, Inc. Realtors 1412 Eye St. N.W. Franklin 9503 the the put in evidenc the minutes 1e hoard of directors, the bank, the customary condition rendered by ank to the controller of the cur- ind the reports of the exami- of the bank made twice the Federal bank examiner. the books of account of the period cov by this v evidence began in Jar nd ended in October, 19 | when the . doors and its | diness was taken over by the new nk, which was called the National Bank of Geneva. Bank E 2 reports of Jan » 1917, to ptembe showed mo unusal condition | c, i, rs and contained no more than | malting, rdinary eriticism found in- the | of examinations of almost any the country. In September, it appeared from th worted that there dere excessive loans, and a of loans papel L of the direc which they we were criticlzed as being too and this condition continued to cd on unfavorably up to | when the bank failed. shown by the stock-| il the direcfors did not | tions of th irs of | AIR MAIL STATISTICS. the bank Lwice 13 each the by-} NEW YORK, September 10. () i reduliced. Tha 1 also Pro- | wiih the surrender of the last Go ded that such examination consists | arnment-owned air mail line to private 1 examination of the paper and | gperation on September 1, the Go the credit of borrowers and soundness | crnment dropped out of the air trans- 357 | of the loans. It was proved that the | port business, and there are now 15 1094 | direct loyed expert accountants | privately owned lines flying the air 124% [ to make the examinations, but that |mail, says a review by Dominick & the accountants simply prepared a |Dominick, investment ban Lat | halance sheet, and did not examine | est figurés for the alr mail handled | the notes or look into the credit of | by 12 concerns give 53, pounds of the horrowers to prove that the loans | mail carried 262,000 miles in July, were sound compared with 46,133 pounds carried It was also proved that on two oc- | 248,109 miles in May. Pay of the con- Peasions the director declared divi- | tractors amounted to $155,000 in July dend iugh the bank failed to'against $134%000 in May. contair of SAEE FIRST MORTGAGES ' YOU WHO HAVE SEEN WASHINGTON GROW will not be slow to understand that investment funds cannot be more satisfactorily placed than on well located, desirably im- proved Washington property. Our 6% FIRST MORTGAGES emphasize stability of value, safety of principal, certainty of regular interest returns. They are available in amounts attrac- ! tive to investors both large and small. B. F. SAUL CO. Main 2100 925 15th St. N.W. e MCKEEVERmIGOSG, . | ' : a e THERE IS NO SUBSTITUTE FOR SAFETY Main 4752 fair to hos: docurm ary, 1917, NEW YORK MARKETS. { NEW YORK, September 10 (#).— Rye barley steady; No. Western 4 f. 0. b. New York and 1.09% export. rely stead; minations. he bank into our various com- local banks into tion with its increased ty to stabilize money a1l financing must mo s vy in | h ‘suspiclon on | in ir | miner: Y1% 114% 108% 98% 8y B 100 94% 108% 1027 118% 111% 2% B6% 1945 101% 99 944 X9 897 from 19 the repor bank i 1921, howeve examiners’ re four or five amount 929. 000000 come, control is needed. Loc many instances ook w g holding corporation located New York or Ch controlli Jocal banks. o agement retention of local bank | officlals would tend to counteract this | feeling to some ext Local and Other The Washinzton Loa big addition i prac and movins « will take place soon The Federal Trade Commission has | postponed from September 11 to No | yember 11, the effective date of its or- der requiring the famous Player Lasky Corp., Adolph 1. Lasky to discontinue fair trade practices in the motion pi 4 pooking Was jected to. A comprehensive disy gignaling devicps since of 1834 will be' among t} the hall of transportation & of the iron ha tion and pageant of { Ohto Railroad at B: Sember 24 1o October Live within your means and put something away for the future. | Over a Third of a Century Without a 15 1 and rail, nominal; M New York, lake and in bond. Corn o. 2, yellow, c. New L 1 . 3, yel. New York, lake and rely steady: Other articles un- 8 barely to conc ested large be commer October, 1 It . was )i¢ prac s o HE best way to accumu- late a safely secured “rainy day” fund is the pur- chase of a McKeever & Goss First Trust Note on an out- of-income basis. mE will be glad to ex plain the advantages of such a savings arrange- ment; and to explain the careful manner in which every mcrtgage investment proposition is investigated by us before acceptance. | 1 | 108% 102 99% 9 6% mple artme white, 56%. | Loss wrious d . changed. als tha 2 make examir (903 834 94% 98 85 97% 93% 594 86 1097% 1061 {119% 112 120% 119% 1% 66 56% Y2l 994 94% 4 1021 814 the chief 105 104 1034 1104 99% 101% 9815 G6% 83l 1043 10514 100 897 the nore 100 90 ‘;..;.