Evening Star Newspaper, January 30, 1928, Page 13

FINANCIAL. BUYING POWER GAINS. Farm Purchasing Ability Rises Due to Apples, Lambs and Tobacco. Farm purchasing wer advances were marked last week by substantial increases in apples, lambs and tobacco; more than sufficient to offset the weak-| W ness in beef, hogs and corn. Non- agricultural goods bought by the farmer showed a weakness, especially textiles. JANUARY 30, 1928.° % 13 COTTON ADVANGES INTODAY'S TRADING Buying for Both Trade and Investment Account—Liv- erpoo| Steady. THE EVENING STAR, WASHINGTON, D. €. MONDAY, GPRCESRISE |20 e o INLOCAL MARKET Involves $3,000,000. Snow-Covered Roads Make CHARLESTON, W. Va, January 30 (#).—Plans for a $3,000,000 merger of Hauling Difficult, and Re- ceipts Fall Off. FINANCIAL.® TRAEISLGHTER | Lo o= _BONDS o s © INBOND HARKET Some Declines in Sympathy With Stocks’ Drop—Firm Money Factor. Index numbers of farm purchasing power, and of agricultural and mnon- agricultural prices for various petiods are given in the following table in ‘la%ich the average for 1926 repredents Index. Agrienl. Now-As- ‘arm tural culural Quotations to 2:55 p.m.—Final Quotations in 5:30 Edition. UNITED STATES. Sales. hich, Low, 2°55. 961 95% 96 A e 1047 104% 104% 2210121 10119 29 109% 108% 108% 10034 10013 101% 101% 101% 10322 871 8T 8Th 1024 6104 104 104 107 7 112% 111% 111% 109 21 2 104% 10415 104% 1422 3 1021 102% 1023, 1024 coal properties in Raleigh and Wyoming Counties, W, Va, became known today with the purchase by a New York syndicate of five companies of the in- terests of John C. Sullivan for $390,000. The Sullivan properties, in the hands of a receiver, were bid in by G. W. Hinkley of New York, representative of the Eastern interests. ‘The companies purchased were the Wood-Sullivan, the Tommy Creek, the Raleigh Fire Creek, the Pickskin and Lib3ks... Lib3d ey Utah Pow & Lt Warner Sug 78 39.. West Elec §s... 1 Westn Union 6%s. Westinghouse bs. Willys-Ov 614s 33, Wilson & Co 1st 6s. 14 WinRepeat Ar 738 2 106% 106% Yngstn S&T 68 w.d. 57 101 USd4¥ssz 72 11428 FOREIGN. Sales. High. Low. 2 Argentine 6sJu 9. 9 100 Snow-covered roads in nearby States By the Associated Press, *: fune "\ marketed today by W. A. 7 on . Government bonds with advances in * Japanese government and municipals : fered today the $35,000.000 issue of Na- - 90 were the two in which investment i are at present earning over two and a halt * Goldman, Sachs & : poration 5, per cent gold debentures * cent. gold bonds due October 1, 1942, by Hal- BY CHARLES F. SPEARE. @pecial Dispatch to The Star. NEW YORK, January 30.—Continued firm money rates, with call loans renew- ing today at 4'; per cent and time money unyielding. caused a disposition to contract operations in bonds. This | affected the low income producing Gov- emment and legal issues particularly. ‘There were also some declines in sym- pathy with the reaction in stocks, but & few issues that divorced themselves from the general movement for special causes, advanced. One of these was the Armour which were bid up a point early in the ion, where they stood at a level 4 poi over the low of the month. This recovery was in har- mony with the recent advance of 3 to % points in the preferred shares of the Delaware and Illinois companies. Industrial Moves Mixed. Mixed movements occurred in the usually active industrials. Andes Cop- per 7s were off a point, while Angio- Chilean 7s advanced a point to the highest of the yvear. Anaconda Copper | 6s. United States Rubber 5s and Dodge 6s were fractionally higher. Brooklyn Union Gas s declined 1': points. ‘The local tractions were easier follow- | ing last week's buoyancy. There was very little doing in specu- | lative rails. Prominent in this group | were the Soo Line issues, which were all strong. Some of the Southwestern | and Southern railroad junior bonds are reflecting the poor statements for De- cember and for the 12 months of 1927., First Liberty 3!,s and fourth 41,5/ reacted slightly. The long Treasury bonds were firmer. With an average decline in them of 14 points from the high of the month there is less disposi- tion to sell. Some Foreigns Down. In the foreign list a decline of 53 in (German 7s, small losses in the French Al Al D Fi Ja; ch rails, a little softer market in and strength in Italian corporation bonds, notably the Pirelli 7s, indicates the day's uncertainty in this depart- ment. Of the $50.000.000 of new bonds of- M tional Dairy Products 5!4 per cent de- bentures at 99 and $12,000.000 Terni first mortgage 61> per tent bonds at [ Pa Pa interest centured. The former is a re- ding operation. Eamings on the new debentures last year were about eight times interest requirements. The net tangible assets of the company are double the amount of new bonds au- thorized. The Terni 6!38 represent hydro-electric properties in Italy, which times the maximum annual in- terest charges on the issue. New Bond Issues NEW YORK. January 30 (Special).— and Prince & Whitely offer today $35,- 000.000 National Dairy Products Cor- Ry Ri Sa Sa maturing February 1. 1948. The bonds | o are priced at 99 to yield about 5.33 per So A new issue of $12,000,000 Terni-So- cieta Per LIndustria E L'Ellettricita {Italy) first mortgage hydro-electric 613 per cent sinking fund gold bonds, series A. due Pebruary 1, 1953, and priced at 907 to yield about 7.35 per cent is being Harriman & Co.. Harris, Forbes & Co. and Banca | Commerciale Italiana Trust Co. ering is being made today of $4.- 550,000 Fox St. Louis Theater Building (Theater Reaity Co.) first morigage fee and leasehold 632 per cent sining fund Tol sey, Stuart & Co., West & So. Joiner & Co. Inc; A. C. Allyn & Co., and E. H. Rollins & Sons. The bonds are Peabody, Smith & Co., Inc.: Boening | & Co. and Timberlake Estes & Co. offer | wday $3,750,000 Advance Bag & Paper Co., Inc, first mortgage, series “A~ € Dver cent fund gold bonds, | maturing Jupe 1, 1952, at par. The Royal Securities Corporation will offer early next week an issue of $1.500000 Restigrouche Co., Ltd., formerly Stetson, Cutler & Co.. 5°; per | cent first mortgage 20-year sinking fund | €0ld bonds, series “A At Sao Paulo 8s 1936, . rgentine 6s A. ustralia bs 1957.. Rank of Chile 614s. Belgium 6s Relgium 7s 1956 Belglum 715 Belgium 8s. Bolivia 8s. Bordeaux 6s Brazil 61s. Brazil s Brazi] 8s Bremen, State 7s.. Buenos Afres 7s 57 Buenos Aires 7s 58 Canada $s1931. Canada 55 1952.... Canada 516s 1929, Czecho 8s 1951 Czecho 8s 52.. Danish Munic §s A Denmark 6s. . E15%sNov§ | Duteh East 1 6s 47. teh East 1 6s 62, alvador Ss48.. nland s f 6s 45 9 'y +190 107% 1 Italy Pub 7s.... panese 4s. Mexico 45 10 asnid. Mexico §sasntd. lan 6% Netherlands 6s 54. Noré 6%s. Norway 54%s. Norway 6s 1943.... Norway 6s 1944. Norway 6s 1952. .. ient Dev deb 6s. . ris-Ly-Med 63, ris-Ly-Med 7 Paris-Orleans 7. 0 de Jan 88 1946. 0 de Jan 8s ¢7. Rome 6%s... 0 Paulo City 85 xon (PW) 7s, ine 7s 42. . Serbs Crot Slo 8 issons €s. Sweden § Sweden 6. Swiss 5158 1946, Swiss Confed §: ho El Pow 7s, Tokio 538 1961 Utd Kingm 5348 Utd Kingm 5338 37 Utd Steam Copen 63 Argentine 6s Oct§9 6 100 8 1007 5 100 9 9974 1004 99% 1007 9% 98ty e 15 107% 1074% 107% 24 105% 9115 1051 114% 105% 1147 11 109% 109% 109% 9 105 13 101 3958 12 98y 11 109 3 102% 102 102 4107y 2 102 11 110t 4 99% 61 96% 2 101 6 1034 7 1054 1117 0 110% 9 3 101w 1101y 5103 14 102 11 102% 136 99 30 105% 27 1031 20 9t 9 103 5 106% 11 110% 8 831 78 91w 17 100 2 106% 23 1085 1 106y 20 1% 11 1074 30 1101 4 107 7192y 6 119 1107% 6 100% 3 106 5 100 5 994 3 1054 3 1033 13 104% 11 2% 99% 22 109% 8 95% 104% 101 9. 981y 109 1 1017 1101 994 a6y 101 103 1051 111% 110% 971y 07 103% 981y 993 101 101% 25te v 1 101% 102% 98! 10314 1 103 106% 1104w 83 90% 993, 106% 108 106% 1114 1071 110t 1065 924 119 107% 100% 10: 100 99 1054 103% 104% 124 991, &9 109% 9% MISCELLANEOUS. Am Water Wks 5s. Am Writ Paper Gs. Anaconda 1st 6 Anaconda cv db 7, Andes Copper 7 Armour&Co 4% 839 Armour Del 6% lantic Refin & Barnedall 6s 1940 Bell Tel PaSs B Bell Tel Pa 63 C. nd the National City | Bethl tomorrow $17.000,000 nent 40-year € per cent uid bonds, matur- ACRICAN PLAYS GAIN. Oziy Two Not Been in Censored, Says Srowman. (A —The i [ Eeth al Md4 1st 58 wner Bteel 7u. .. st Cuba Sug 7% wwdrict 6 00y cap b more pisys i been produced ave been b i |5 ATCHISON INCOME. NEW YORK, January 30 9)—Net |0t operating income of the Athison, To- peks & Banta Fe 1or 1927 droppe 356,602 104 an YN’ n 34,968,547 & year oo # 8,604, | L L linois Bell 1 1inois Bteel 4 | Indiana Kteel 6, | 1ut Mer Marine 6 it Paper (s 47, .., Vaper 10 6. lede G Lignt, 1K & Myers Ll €1 & Myers Ta AN ACTIVE. STOCK | Lostsv G & Esnez e X2 T BREET T DT -2 ' 3 Con C4m 40, dvale Blecl bs. . oSty I8t 4w Al Tub Jet bx lormation s Byai bucs (YA Pl e Am AgriChem 1%s 12 105% Am Repub deb 6; Am Smit & R AmSmit& R Am Sugar Re: AmT& Teltr 128 918, 11 1034 8 101% 1107% 2110 11024 ConGas N ¥ 6%s.. 15 | | ::uanumcu Pow &8, Cuba Can London Are ! Cuba '(: W | Cuban Am Sug 8 | Detrottiaizon bs 40 ietroit Edison 6x.. 13 Dodgets. ... 5 1004 4 106% 46 108K 1 105% & 106 3 106y, 6 105 2 192y, ERUres 105% 102% 104% 1065 264 96% 100% 105% 1064 1017 104% 954 107% 105% 105% 106% 105 1044 1065 1059 101 iy 105 107% 105 1041 101 98ty 109 % 116 1007 o | 104% 1124 99% 89% | 17% | 105% | 96% 105% 102% 102% 107% 104% 995 105% | 106% 109% 100%; 9 105%, 114 1210 | 925 | 913 {NYRys6s6s..... | Nor & 8 gen 58 64. . 10005, 10, 101 1045 9h% 108 105% 1057 1050 105 122v 108% 1067 1060 102 w74 105 J0T% IN 108 | 2 J!“\ 101% | | Nor Pac 448 2047, | Northern Puc b8 D. RAILROAD. Atchison adj 4s.... At&SF cvt 43 05-55 1 Atchison gen 4s, AtlanticC L 1st 4 1 14 32 28 6 17 49 12 12 12 5 B & O 5s 200 B&O1stbsct. B&OTrfimp6s.... B&DSWbs 50, BklynElevated 6%s Bkiyn Manhat €. Can Nat 4%4s30... Can Nat 43%s 57... Can Nor 4181935, Canad North 7s Canad Pac deb 4s Central of Ga 518, Centof Ga 6s..... Central Pacific 4s.. 106% 957 97% 100% 1013 102 116 100% 103 Chi B&Q gen 4s 53 7B.. 1 Ch&E 11l gn 58 51.. Chi Gt West 4s 59. CM&StP deb 4s cfs CM&StPgn 8! CM&SUP 48 25 ¢ 2 CM&StPcvdals, 1 M&SPev4lgsizels 4 M&StPgn4ls 4 1& StPred4is, 31 Prf4l%scs, 117 StPcv5s... StPcvbscfs.. & NW gn 34s. I NW 41682037, “hRI&Pgn4 U RI&Prfds., 60 CllPaceY%swi, 70 CliiTH&SES 12 Chi Un Sta 4% C& WI5ls CCC&StLbeD... 2 CCC& StLrf6sA. 35 Clev Term 5%s. Cuba Nor 51;s cts. D& Hudcv 3s35.., Ilen & 110 G; cn 4s. D Rio G West 5s Erie 1st cons 4s. Erie gen 4s. . Erieconv 4s A Erieconv 4s B Erie cvt 55 67 wi Erie (Pa) it tr 4s. FlaEC5s 4. . Gr Trunk stdb Grand Trunk 7s. .. Great North 4135w 6 Great North 5s.... Great North §%s.. 1 Great Nor gen 7s.. 40 Hud & Manref 5s. 11 Hud & Man aj §s.. 17 11l Cent ref 4s. 6 11l Cent 45 53. 5 1Cent 4%566.... 18 1l Cent Chi 43s.. 2 111-C-C StL&NO 58 Iowa Cent rf 4s. int Rapid Tran 5s. Int Rap Tr 55 stpd. nld Tran 6s. ) Tran 7s... 1 Int & G Nor 1st 6s. Int RysCA 5s72.. Int Ry CA 6%srct Kan City Ft 8 4s, Kansas City S bs.. Kan City Term ¢; Lake-Shore 4s Lake Shore 4s LehixhVal con 4 Louts & Nash 7s Man Ry 1st 90..... 19 MIEIRy & L5s51 2 MIEIRy& L6861 6 MStP&SSMcnds 15 MStP&SSMb%s. 7 M St P& SSM 68 54 1 11 .2 4 1 3 4 4 = 1 2 2 Mo Pacific gen 4s.. 54 MoPacSsFi7.... 84 Mob & Ohlo 4243 77 49 Nassau El ¢851... 2 New Or Term 4s... NOTex&M5s B, NOT&M5% NYC& St Lab4s., NYC&StL6sA. New Haven 4s 55.. NY NH&H 4856... 5 NH&H db 48 57 11 H Hav&Helt 6 1 NH&H cv db 63 Ont W ist 4, ' 1031 870 T4 Bl 105 1171 4 NYRys6sA65... 15 N Y State Ry 4%s. 17 NY W& Bosdlgs. 26 1 3 .26 k] 1 9 Norfolk & W en 48 Northern Pac 4s. . Northern Pac r | 68 Ore Short L s 4x Ore Short L ix gt Ore Wash 151 48 ennsyl6lgm. . ... I’ennxyl gold 7s. . Pere Marqg 18t 6% PCC&BILGRA. Port R L& ¥ | Port 12 L P 6s 47 Iteading gen 4% Reading J C 4 b, | 1AMk & L4t 110G West ¢l 1o G W 1st SULIM&ES dn2y. ., Bl | M&S gn b 31 SUL&S K pianA, SUL&SF prin by L&sSKikab,, Bl L &S K ad) 6s.. BIL&SKinces.. 23 SUL&S ¥ prin6e: 14 BILYSWintas ... | BUP & KCEhL. 438 11 Ban A& Arn Pan,. | Beabourd AL 4u sta Beah A L ref 4s Beab A Load)bn. ., 108% 102% 101% 101 100% 91t iy 1 49 iy 1 Beab A L con 6 B AN Fla 6835 A BE ALKl 686 B, Bou Pac 4s 29 Hou Pacilic ref 48 , ty 6 56 ox athern ity 6%e TexArk K5 615n 60 i e A UTIPR Uy I AL LAND BANK x B & n 100% 104% 104% Y 6la " 99 107% 112% 1154 1017% 92% 7Y% 93% 101% 1004 107 102 104% 697 105% 102% 1001 1054 96 104 1087% 107% 974 103 KT 4% 99w 1015 1%, 1030 y 1020y 1007 101 1001 911y 1001, 9l % i 100 100% 100% s 105t 1040 02 1o 1KY, iy 1045 | BYNDS 3| tub, 47a48:.: store packed, 32. ported to quote. have made the going so uncomfortable that egg haulers have not displayed their usual activity the past two days. The result is that receipts have fallen off to the extent of increasing prices. Such storms invariably have a tem- porary bad effect upon the egg market, according to dealers, and the poultry market also is affected when the bad condition of the roads is not remedied for several days. Current receipts of eggs the last week end were guoted at 42, while today's prices went to 43 and 44, some dealers, it is stated, asking as much as 46 cents. Trading this morning was about nor- mal for the first market day of the week, business seldom being brisk on such days. Prices of most other com- modities remained unchanged. Today's Wholesale Prices. Butter—One-pound prin 50a51; Eggs—Fresh, selected, 45a46; hen- nery, 46a47; current receipts, 43a46. Poultry—Turkeys, alive, 38a40; Spring 4a2! Spring chicken capons, fancy. 5 35; ducks, 25a30: keats, 30a90. Meats, fresh killed—Beef, 20a25; veal, 24a28; lamb, 26a27; fresh hams, 19a20; loins, 19a20; fresh shoulders, 15a16; smoked hams, 22a23; smoked shoulders, 13al4: strip bacon, 22a23; lard, 12'za 13; calves, alive, 16: lambs, alive, 13. Fruit and Vegetable Review. Today's market report on fruits and vegetables (compiled by the Market News Service Bureau of Agricultural Economics) says: Apples—Supplies moderate; demand slow on account of the weather, mar- ket dull: barrels, Pennsylvania, U. S. No. 1, 2! inches up, Yorks, 6.50a7.00, U. S. No. 2, 2!, inches up, Yorks, 6.00; Virginia, U. 8. No. 1, Staymans, 2% inches up, 3.25a3.50; boxes, few sales, ‘Washington. medium to large size, ex- tra fancy, Winesaps, 3.75; Staymans, 3.25; bushel baskets, too few sales re- ported to quote. Cabbage—Supplies moderate; demand slow, market weak; new stock, Texas, barrel crates, approximately 100 pounds net, round type. 3.25; Florida, 1'2- bushel hampers, pointed type, 1.75; low as 1.50; South Carolina, barrel crates, approximately 100 pounds net, pointed type, fair quality and condition, 1.75a 2.00; old stock, New York, sacked per hundredweight Danish type, 1.00a1.15 Celery—Supplies moderate: demand light on account of the weather, market steady: California, crates, 5.50; Florida, 10-inch crates, 2.50a2.75. Lettuce—Supplies liberal; demand light, market about steady; California, Imperia) Valley, crates, Iceberg type, 4-5 dozen, best, mostly 4.00; poorer, low as 350; Arizona, crates, Iceberg type, 4-5 dozen, 3.00a3.50, mostly 3.50. Onion Market Dull. Onions—Supplies light; demand slow, market dull; Michigan, Indiana and Ohio, 100-pound sacks, Yellows, U. S. No. 1, medium to large size, 3.65a3.75. Potatoes—Supplies moderate: demand light, market firm; Michigan, 150-pound sacks, Russet Rurals, U. S, No. 1, 3.35a 3.50, mostly 3.40. Maine. 120-pound sacks, Green Mountains, U. S, No. 1, 2.90. | Spinach—Supplies moderate; demand moderate, market about steady: Texas, | bushel baskets, Savoy type, 2.15a225;| mostly 2.25. Tomatoes—Supplies light; demand | very light on account of the weather; | market about steady; unknown origin, repacked in New York City, 3s ripes, wrapped, fancy count, 2.75; choice count, 2.00a225 repacked in Bal- timore, 6s, ripes, wrapped, fancy count, 5.00; choice count, 4.00. | Sweet Potatoes—Supplies moderate; demand very slow partly on account of | the weather, market weak: Tennessee, bushel hampers, ncy Halls, No. 1, fe sales, 1.60al.75: North Carolina, cloth- | top barrels, Yellows, too few sales re- String Beans Firm. String Beans—Supplies light; demand light, market firm: Florida, 7g-bushel hampers, green. 750a8.00; few fancy higher: wax, 5.00a6.50. Eggplant—Supplies _increasing: de- mand slow, market dull; Florida, pepper crates, fancy. 3.50a4.00. Peppers—Supplies light; light, market firm; Florida, crates, fancy, 4.00a450; best, 4.50 Squash—Too few sales reported to| quote. | Cucumbers—Practically no supplies | on market, Carrots—Supplies light; demand light market dull; Texas, bushel baskets | bunched, 200; Western lettuce, crates 2.502.75, Beets—Supplies light; reported to quote. Caulifiower—Supplies liberal; demand light, market dull; California, pony crates, 1 00 | Strawbe; -Supplics light* demand | light, market steady; Florida, pony | crates, Misstonary, 75a80 per quart, few | higher. | demand | pepper | mostly | too few sales| | FOREIGN EXCHANGE. (Quotations furaistied by W I8 Hilbe & Co 1 | | NEW YORK, January 30 (#) elgn TR For- exchanges easy, " quotations (in irenl Britaln, demand, 486, 0-day bills on banks demand, 3 -16 3.0, demund, 8§ eables, cubles, 529 Demand 24 80; 20571 Bwitzery n Belglum Holland, 40 2y Nol sden, 26081 Denmark \d. 1924, Spain, 17.03; G 1320, Poland, 1125, Crechoslovakin 2000 Jugosluvia, 1961,; Austria 1410, Rumanta, 617 Argenting, 42,70 Bruzil, 1200, Toklo, 46,74, Shanghal 63621, Montreal, 6982 13-16. Germany. SHORT-TERM SECURITIES. Allis Clintiners fin 10017 At 10, b T the Meade-Pocahontas Coal concerns. The New York syndicate previously ob- tained the Sullivan-Pocahontas ~Coal Co. and the equipment of the Harty Creck and the Barkers Creek Com- panies. All the properties will be merged into the Comago Smokeless Fuel Co. STOCK PRIGE INDEX SHOWS SHARP GAIN Trade Volume Also Gains and Rate of Return Goes to Low Point. Last week's heavy trading, with a marked price increase in many issues, sent both stock market indexes sharply upward and drove the rate of return close to the lowest point of the last two years. As a group, store stocks scored the most general advance, due largely to a jump of 29°points in Macy stock, seven points in City Stores B and five in Woolworth. Marked weak- ness appeared in oils. A compact survey of Stock Exchange movements is furnished by the in- dexes and Fcr cent of return yielded by the level of prices of common in- dustrials during each indicated period Stocks Rate of i R S8 ) (Mch."26) (Oct Big increases last week in the prices and activity of store stocks and several issues in the miscellaneous group, notably Fidelity Phoenix Insurance, Burroughs and International Business Machine, were factors in raising the average daily turnover on the New York exchange to $146,900.000. The average daily volume of trading | for the preceding week was $116,500,000 and for the corresponding week a year ago was $67,000.000. These ~ figures present the actual value of the average daily Stock Ex- change tradings in common In- dustrial stocks, computed from the prices and the number of shares traded ! in each stock. ICopyright. 1928.) Money and Prices Irving Fisher's Index of the purcha: ing power of the dollar showed a sli advance to 4.7 last week from its 19: value of 100, as compared with a ri; from 100 of 45 cenis the week before and a rise of 3.8 cents a vear ago. | ‘The weekly index of wholesale prices. computed from Dun’s quotations of about 200 commodit! sagged to 956 | as compared with 957 the week before and 96.3 a year ago. With 1926 taken as a base of 100, these figures show the changes during the past few years: that the index of wholesale commodity | prices in England as computed by | Crump weakened to 944 last week. as | compared with 94.7 a week ago and 96.4 | a year ago Italian price: pared with 917 (Cony ood at 74.9, as com- ‘ear ago. o108 OIL OUTPUT DOWN. NEW YORK. January 30 (#) —Crude oil production in California has shown a steady decline since the first of the year, the average daily decrease beinz about 10,500 barrels. ~ Production last week averaged 614,300 barrels daily. a decline of 3950 barrels daily from the preceding week WILL VISIT JAI;-ANA NEW YORK, January 30 (" —Wil- am C Cheney will head the commit- | tee appointed by the Silk Association of America which will visit Japan this | Spring to demonstrate to raw silk deal- the system of raw silk sification recommended by the as- sociation. i S { A fast electric railway to carry both passengers and freight is being planned connect Hachiojt and Odawawa, | Japan First Mortgage Loans Lowest Rates of Toterest and Commisston Thomas J. Fisher & Company, Inc "LOANS Let us tions for LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks for nself Percy H. Russell Co. 926 15th St. N.W. Money to Loan have your applica- secured it ¢ | Joseph 1. Weller it Winh 697 FirsT Mortgage Notes Safe Make sl wark o at the highest Wterest rate consistent with Conservative 40 Years Experience vour and Tl Vo In hames the finanving and sale of S e 3t sinan g Ates 10K dun il these ahsolute satety wm ! Saunders Co, fnc WY ALTONS 1433 K securi Main 1016 IV NEW YORK, January 30.—The cot- ton market opened firm today at an ad- vance of 9 to 19 points active months selling 17 to 22 points net higher in early trading on rather active covering and fresh buying supposed to be for both trade and investment account. Demand evidently was promoted by relatively steady Liverpool cables, re- ports that notwithstanding recent low temperatures, there was still danger of boll weevil damage to the coming crop, and a, theory that the recent decline in prices might have a tendency to check increase in acreage. May sold up to 17.74 and October to 17.42 and while the advance met fur- ther liquidation and southern selling, prices were within a few points of the best at the end of the first hour. Private cables reported trade calling, covering and buying for a reaction in Liverpool, but that the Manchester cot- ton goods trade was depressed with business restricted. The early advance extended to 17.81 for May and 17.50 for October, or about 25 to 30 points above Saturday's closing figures. The demand tapered off somewhat at these quotations, how- ever, prices reacting several points from the best under realizing by buyers of late last week. This seemed to be coupled with some further liquidation and Southern selling. At midday May was selling around 17.67 with the gen- eral market 11 to 12 points net higher. CAR LOADINGS DROP. BALTIMORE, January 30 (Special) —Car_loadings of the Seaboard Air Line Raflway for the first 17 days of January were 89934, against 104078 in the corresponding period last year, | 8 decrease of 13.6 per cent. BUTTER UNCHANGED. CHICAGO, January 30 (#).—Butter —Unchanged; receipts, 7.538 tubs; creamery extras, 45!,: standards, 45 extra firsts, 44a44'.: firsts, 4lad42!, seconds, 38a40';. Eggs — Unchanged A Wadi in Palestine T is arid, in most of Palestine. There I are long months of drought. Then man and beast can walk on the wadies. Wadies are dried out river beds. But occasionally, torrential storms break. Down the wadi comes thunderous tides of water. Sometimes unsuspecting Arab families are caught and drowned in these storms. On other roads, the going is sometimes fair and clear. Financially, a man can carry on at a careless clip following the road of his whims and fancies. But when the storm of hard times breaks, let him look to his safety—unless he has taken due precaution. Such precautions are the First Mortgage Notes which may be purchased through Swartzell, Rheem & Hensey Company. For fifty-eight years these reliable securi- ties have protected thousands of inves- tors against loss. Their present yield is 67, an especially attractive one when you consider the high margin of safety. Swarizell, Rheem & Hensey Co, - Morigage Barkers T27151h. Street, .V, WashinglonDC. 58 Years Without Loss To An Investor py receipts, 14,535 cases; firsts, 39: ordi- nary fi 30a37. D e Nationa Capital, Surplus and Undivided Profits, Ozver $2 15th St., O = T Metropolitan Bank pposite U. S. 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