Evening Star Newspaper, January 31, 1928, Page 15

FINANCIATLSY PRESSURE LACKING INBOND TRADING !Small Declines Scattered Throughout List—Some Foreign Issues Sag. TNTERNATION PAPER COMPANY — T oo 8% 'he7 The baart f directors have doclared a quarterly divi- d of sixty (60c) cents a share on the mmon._ stack of this company. payable Feb: riary 15 1928 to common sfockholders o Tecona at the close of business February 1. T028 Checks 1o ba matled _ Transfer books il mot close,~ OWEN SHEPHERD. Vice President_and_Treasiiver 1st Trust Loans Any Amount D. C. and Montgomery County Large Construction Projects FRED T. N'ESBI“T Vermont Ave. N, BY CHARLES F. SPEARE. | Special Dispateh to The Star. NEW YORK, January 31—In the 5 per cent renewal rate for money and the large amount of new offerings to- | day the bond market had two adverse | factors with which to contend. It met |them in a satisfactory way. Although | there were scattered declines through- lout the list of industrials and foreign | bonds there was no pressure on the | market at any time. | “Banks have been selling moderately | and with call money between 41: and 5 | per cent they are not at the moment | attracted to low_ income bearing cor- | poration bonds. However, United States ~ Treasury long maturities were firmer. CHURCH LOANS || Brookim Union Gas Up. We ars 1 & position to handle con || The striking movement in the public struction loans. for Churches and tnstitu- || utility investment shares found its ians=EReS ML SU18. | complement in a rise of 6 points in | Brooklyn Union Gas and in a firmer market for some of the inactive high- |grade utility bonds. The broadest ! movement in this group was in_the | local tractions, which are of a decidedly speculative grade and which continued | to advance today into new high ground lon the various predictions and esti- | | mates of their possible status under {the contemplated arrangement of Wright, Slade & Co. MEMBERS New York Stock Exchange New York Cotton Exchange Chicago Board of Trade Stocks and Bonds Bought and Sold for Cash or Carried on Margin THE MAYFLOWER HOTEL Connecticut Ave. at DeSales St. Telephone Main 1581 Resident Partner Mortgage Money Loaned at Low Interest Rates Economie Conditions Tyler & Rutherford THE EVENING STAR. WASHINGTON, D. ¢, TUESDAY, JANUARY 31, 1928. I ON NEW YORK BONDS STOCK EXCHANGEI Received by Private Wire Direct to The Star Office Quotations to 2:55 p.n.—Final Quotations in 5:30 Edition. UNITED STATES. (Sales are tn $1.000.) Sales, Hixh. 10126 10119 10126 10231 108 10013 100 13 10013 10325 10322 103 22 10216 10212 102 16 1073 107 Lib3%s... 173 Libistals 7 Lib3d'4ls. 22 Lib 4th 418 40 US 3% 43-4 135 US3Ys... 45 U S 41944, 185 US4usbz 185 103 110 Low. 258, 1073 10930 110 FOREIGN. Sales. Hich. Low. Argentine 5s. 2 Argentine 6s . 6 Argentine 6s Oct69 5 Argentine 6s A.... 18 Argentine6sB...., 3 Australia 5s 1955, , Australia 5s 1957, Austria 7s.... Rank of Chile 6%s Belgium 63. Belgium 6143, Beizium 7s 1955 Relgium 78 195 Belgium 7%s. Belgium 8s. Bolivia Borde: Brazil 6 Brazil 7s.... Brazil 8s Bremen, State 7s.. Buenos Afres 7s 57 Buenos Alres 7s 68 Canada 5s1931.... Canada 581952, ... Canada 5%s1929,, 2 Chile 73 1943 . 27 Chile 8s 1941 Chile 8s 1946 Con Pow Japa Copenhagen 5sct. . Copenhagen 5;s. . Cuba 5%s.... Czecho 71 s rets, Czecho 85 1951.... Czecho §s 52.. Loan Corresnondent Mutusl Benefit Tife ins. Co. { Ttalian government 7s and the muni- | 1520 K Street Main 475 || 0:7 60 e lower under fairly large | i sales, while the Pirelli 7s advan: i @ | "Money to Loan [point o a new nhigh. There Wil | o9 firet ec of truet on real estate | slowing down in the foreign list, \ ne interest '""'|~NW'“"’°" resulted in a soft market for not u: s 1| the Italian group, but French, Cer man, Peruvian and Japanese govern-| ON HOMES ] ments. The 6 per cent Greek govern- 5 Prompt atten- || ment loan for $17,000,000 at 91, to yield tion to appli- Interest | ownership. 111924 at 88 |} In view of the higher money rates, || interest was quite keen as to the re- | ception of the Southern Pacific 4'.c offered at 993;. Other railroad issucs | at this rate have been brought out | with money lower than at present and | they had the advantage of better | tributing conditions. The proceeds of | this loan go to pay off an equal amount | || of Southern Pacific collateral os at| W, H. Saunders Co., Inc. ™ ostiook 15 Betser | 7 There was some activity in Florida . NSRRI | East Coast refunding 5s around 89.| Main 1016 | Obviously the present year cannot be ! | any worse and probably will be much | | better than 1927. when this road earn- | {led less than $600,000 to apply to| $3,000,000 of bond interest. On this basis the 5s. that have been facing severe net declines for months, should | improve. The issue amounts to $45,000,000 brought out between September, 1924, | and March. 1926, for the purpose of de- veloping the property. This develop- | ment resulted in much greater facil- { ities than are now required. and the bond issues added $2 250.000 per annum | to fixed charges, in a period when gross | has been shrinking rapidly. Seaboard | Air Line adjustments were slightly low- | | er following a review of the resuits| {of 1927, which showed just sufficient | income to cover the interest. s SALE OF SOVIET BONDS IN U. S. IS INVESTIGATED | 6.65, was said to have been well taken {here and abroad. The old {|traded in at par and from a yield | | standpoint are more attractive than the I new 1ssue. cations. Run for five vears with- out curtail- ment. 14th and H Streets Capital $1,000,000.00 Checking Accounts Savings Accounts Time Deposits Foreign Exchanges i Commercial Credits i Travelers’ Credits i Travelers’ Cheques Acceptance Credits Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes | Several Banks Provide Service of | Principal and Interest on Rus- ! sian Obligations. By the Associated Pre NEW YORK. January 31.—New York ! Times today says that the Department of State has been in communication | with the Chase National Bank concern- ing the sale in this country of Soviet railroad_bonds. | The Chase National Bank had adver- | | tised two weeks ago that it would pro- | vide service of principal and interest in dollars on bonds sold by the Soviet to {individuals through the mails. The | department asked the bank for partic- ulars of the arrangement, and were-told | account of the State Bank of the Sov- iet Union on lines followed in similar 7s were | ! They were brought out in | | Danish Munic §s B Denmark 6s....... D E 1518 Mch 53, DEI Nov 53. nieh East 1 6s47. i Salvador 8s 48. ench 7s ench 7iss. -nch 8s Ger G Haiti 6s, Holla ltaly Pub 7s. . Japanese 45 Japanese fiss | Jerzens U M 6s Lyon 6s. .. Marseille 6s. Mexico 4s 04 asntd Mexico 43 10 asnid Milan 61s . Montevideo 78 etherlands s 54. etherlands f Nore files. .., Norway ilys Norway 63 1943. Norway 6s 1944. Norway 63 19 Orient Dev deb 6s. Parts-Ly-Med 6s. . Paris-Ly-Med 7s.. Paris-Orleans 7s. Peru 6s 67 w. Porto Alegre 8 Rhinelbe Un s Rome 6%s....... Sao Paulo City 8s.. Sao Paulo 8s 1936, . 1 S$a0 Paulo 1950 Saxon (PW) 75 Seine 78 42, Serbs Crot Slo Sotssons 6s. Sweden 5343, . Sweden 6s. Swiss 5%s Swiss Confed 8 Toho El Pow 7s TOKIOSS. 1 0o rre Tokio 5181961 Utd Kingm 515 29 Utd Kingm 53837 1 Utd Steam Copen 6 Yokohama 6s 9314 100 100 101 100 1152 11425 1151 993 100% 9% 98 97% % 103% 1008 9513 98 2 109 1061 104 103% 105 105 1097 107 5 1001, 1031 100 100 104 6 1081 1123, 99% 78 3o 117% 106 1104 1 100% 103% 994 994, 104 102 1020 105 101% 1014 11 1101 Sales. High. Low. 9519 <! Gr Trunk stdb ¢ Gt N L | Gt + | Great Nort 8in Pipe Line 5s Skelly O11 6%s. Southwest Bell bs., §|Stand OIIN J 6s 46. 7 Sug East Orlent 7s. TennElecPow 6s 47 Toledo Edn 1st 7s. United Drug 6s. U S Rub 1st rf 6. U S Rub7%8.... U S Steel sf 6 Utab Pow & Lt bs. Vertlentes Sug 7s. Warner Sug 7s Warner Sug 7s 41.. West Elec 5s. . Westn Union 6%s.. Westinghouse 5s. . Willys-Ov 6145 33. Wilson & Co 1st 6s. WinRepeat Ar 7% Yngstn S&T 53 \Atchison gen 4s... Atl & Dan 1st 4s 48 Atl & Dan 2d 4s 48. Atlantic C L 1st 43 Atlantic C L cl 4s.. B& B & O SW bs 50 B & O Toledo 4s. Bang & Aroos 4 Brdwy & Tth Av 5s BklynElevated 6 Bklyn Manhat 6s.. Can Nat 415 30 Can Nat 4%s 64 Can Nat 4%s 67 Can Nor 4145 1935, Canad North 613s Canad North 7s Canad Pac deb 4s Can Pac 4%s 46 Car Clinch&O 6 Central Pacif) Cent Pac 1st 5s Ches & Ocv 4% 1 Chi& Alt a3 5 Chi B&Q zen 45 53, |CB&Q4%s 7B 1 Chi B& Q 1strf 5s. Ch&E 11 gn 55 51 Chi Gt West 45 59, C M&StP 48 25 cfs. CM&StP deb 43 cfs CM&StPen8).. CM& CM&StPendls M&StPredlis, CM&SP rf 4135 cf, {CM P v bs... | CM&StP cv 5scfs. lcM&stPes. ... |ChiNw 4 lr‘m y 1ChHiRT& Pends {ChiRI&Prf4 CRIPac4%swi. 2! Chi T H tne 6s60.. Chi & W Ind cn 4s. C& W 151862 |CCC&sStLrtesA. | Clev Term 534s. . Cuba Nor 5% scts. Del & Hud 1strf 4 | Del & Hud 51 Den & Rio G cn 4s. D Rio G West 5s.. Erie 1st cons 4s Frie gen 4s. . Erieconv 4s B. { Erte cvt 55 67 wi.. |FlaEC 4 or 434576 D.. Great North 5s. Great North 5138 { Hud & Man ref 5s. | Hud & Man aj 5s. . ": N1Cent 4% s 66 { 111 Cent Chi 41 {111-C-C S1L.& ! int Rapid Tran 100%, 105%, 99% 98 1047 10315 1041y 112% ‘e 78 59 117% 105 961y 95% 9l 1043, 1128 9! MISCELLANEOUS. Ajax Rybber 8s 2 Am AgriChem 7% Am Smit & 12 15t 6s Am Smit & R 6. Am Sugar Ref 6s. . AmT & Tcitr4s., AmT & T el tr 5, transactions with other large foreign institutions | Simon Lederer of the National Tin Corporation, & holder of Imperial Rus- stan bonds iong in default. made public | a letter he reccived {rom W. N. Carr, Assistant Secretary of State, In answer to a protest he made against the sale of the new bonds here | Carr wrote the department was ng the arrangements made sents on the bonds, and added t had objected to finan- 12 the flotation | n market or the | credit o make t resime.” 1 Francisco and n the pay- 1pal on the Continental Trust Co. 14th and H Streets WADE H. COOPYER. President Capital $1,000,000.00 Invest in 02% INSURED Mortgage Barks in Chicago, & in London have u wnt of interest and p bonds GERMAN RAILWAY LOAN | Bonsls FLOTATION !NTERNAL AFETY, the foremost | 1 Capita Part of Firm's consideration of czreful | Freference Bhares Through Ald investors, is combined with profitable return in In- sured Mortgzge Bonds, ize of Bankers of Country. ¥ Januar: 2 German $100,600 - Med Staies Ly 10 0f objection ent general for | company has | n ny | is preference | has 1,119,000,000 | Safeguarded by the guar- || « frod e antee as to princinal and interest by the Federa) ‘Security and Mortgage Company, with resources of over $1.000.000. hisig brc i CGerman bankers unconditionally 2eichsbs imeaiately will by the Eouita : 100,000 000 it ble Surety Compzny, with e furm of cer resources of over %2 000 000, under the supervision of the New York State Insurance Department —and guar 100.600.9 fow month shiate ol the Clerense ! e 1t Jarans . guara ~They possess the essential requirements of investment an ideal KRESGE EXTRA VOTED NEW YORK a1 A% o ‘l) "",1“ an the oo regular quarterly adividend: Maturities 2 10 10 Yenrs nusry Denominntions $09 10 31009 Deferved Puyments MAIL THIS COLPON T0ODAY Federal Security & Mortgage ( 1412 K Streer N W Washington. D ( Areanyed a1 Ple se send me turthe wage Bonds Ineured Na, Address AmT&Tsfbs.... Am Tel & Tel 515m Am Writ Paper 6s. Anaconda 1st ; Anaconds cv ab Ts. Armo, Bell Tel Pa 58 B Bell Tei I"s Bethlehems Beth Steel rf by. .. Peth Steel 4158 53 Peth Steel & N Bkiyn Edison Gy nion 515 . 1084 109 91% 101% 1045 Hoe & Co 64n.. | Humble 01 oy Humble O & R 5% 11ino1s Bell 1m G, 1iinots Indians it TelkTalex 414 1 3 Kayrer & Co flgs Kelly-Spring is annn St16s Je 1o (3 Ligg & Myers | Ligeats & Myers Tn s s s itara (1) 7 Louiay O & K s Mo o I8 4w at Tub Ist % W ana Tel & it 108 1000 103 1054 100° 10405 108 1017 1090 101 % Wty 4105 107y 10 1107, Pl 5110 [ 1ot 1o iy 1084 108 10544 102 108 10 105% 115 121% 1071 10w | 102 1015 1045 10% 105 1010, 10z 105% 1001, 1061y 1017% 1040 96 1081, 1081, 107, 1024 1050 s 1061 122% e 17 104% 106 1041, 1 1017, [ 101 Wiy 104t 10ty 1040 s e 0% 1o 102 1080 104 s 10t 1ot 104 1ol 1t [T Int Rap Tr 5s st Int Raptd Tran 6s | Int Rap Tran 7s Int & G Nor ad 6s. . Int RysC A tInt Ry C Am 6s 41. Int Ry Kan City Ft S4s. . | Kans: Man Ry 1st 90 Market St { Mil El Ry MS M St P& SSM 6lg8 MK & T Ist 45, MK & T ads bs cific gen 43 | c S8 K17 18 25 3 1 1 2 15 16 cvdlzsilefs 4 . 199 18 A6lgsret o Mob & Ohfo 4145 77 2 Nassau £! 45 51 NOTex & M4 NOT&M 5% NYCenzenis Cent deh 4s.. Cent 45 9% Corfim4ts ¢ Centr by N ¥ CentLS ol 34 NYC& St Lahas NYCNRSIL 5% 5A NYC&S New iN N N Y Y M v v St L &s A Haven 115n 18 Norfolk & W en 4y Nor Pac 28 2047 Northe Ore Short Lorfs 4s [ Ore Short Len i Ore Short 1 6w gtd ClOre Wash 1s1 4w yleon4s. . inaylen 4tgs e sennnyl pan [ Bl ' l Pennsyl 61, i ! v i | ' 5 ennsyl gold 1s | | &HUL Gy 1875 [Port L P 6n a7 i 1 pen 4 n. L Reading J C 4x 61 |1 Ark & { BL 1 Mas Sl IMAN | St &5 K pias A S in b w1 Soah A Load) b b AL e NI ALK e 1 e Ehira Ave el 4 Phicd Avesady POl 1o 0610 A g 30 [RIRT I 10 3 1 [ \ 1 103% 100% 107t 107% 1075 96 1047 109 1015 100% RAILROAD. 1007 104% 10413 108% 111 10115 1015, 1081 95% 103% 100 107% 107% 107% 5% 104% 108% 101% 100% 954 4 106% 100% 104% 1041, 10815 111% 9614 105% 89 881, 100% = 101! 104w 114 101 10 105 prefery DECLINE IN EGGS {REDUCED ACREAGE SEENBY DEALERS| INCOTTONURGED | | il “| Tealy, demand, 6 2%, Clearing of Nearby Roads Expected to Increase Re- ceipts Here. A continued firm condition of the butter and egg market was reported this morning. Prices of both commodi- ties this morning were the same as yes- terday's prices, although the New York butter market closed a fraction of a cent higher yesterday. is believed by local dealers that the clearing of snow and ice from the roads in nearby Maryland and Virginia will result in increased receipts of eggs and lower prices. Receipts of Florida vegetables con- tinue light, some vegetables being prac- tically off the market. Light receipts of carrots from Texas met a light de- mand that made the market dull, while California growers sent liberal supplies of caulifiower, pony crates selling as low as $1.75 and $2. Florida supplies of strawberries con- tinue light. The demand today was re- ported light and the market steady. Missionarys were quoted at 75 and 80 cents. Today's Wholesale Prices. Butter—One-pound _ prints, tub, 47a4815; store packed, 32. Eggs—Fresh, selected, '45a46: nery. 46a47; current receipts, 43a46. Poultry—Turkeys, alive, 38a40; Spring chickens, 29a30; fowls, 27a28; roosters, 16a17; ducks, 18a20; keats. young. 70a 75; old, 36, Dressed turkeys, Spring chickens, 30a32; roosters, capons, fancy, heavy, 40242; small, 30a 135: ducks, 25a30; keats. 30a90. Meats, fresh killed—Beef, 20; 50a51; fresh hams, 19220 sh shoulders, 14 ed hams, 20a22; smoked shoulders, | strip bacon, alive, 16; lambs, a and Vegetable Review. market report on fruits and| compiled by the Market News Service Bureau of Agricultural} Economics, says Apples—Supplies moderate; demand moderate, market steady: barrels, Penn- sylvania, United State: . 1, 213 inches up. 6.50: United Stats inches up, good i 6:50a7.00; boxes, few| sales, Washington, medium to large size, extra fancy Winesaps, 3.75; Stay mans, tra fancy delicious. 4.25 bushel baskets, Virginia, United States, | No. 1, Staymans. 23, inches up, 2.75a 3.00; ified Staymans inches, 195 nsylvania, United States No. | | 1, Black Twigs, 234 inches up, 2.75. | ‘Cabbage—Supplies moderate; demand | slow; market weak: new stock, Texas, | barrel crates, approximately 100 pounds net round type, 3.25; Florida 1'> bushel | hampers pointed type. 1.75; poorer low South Carolina. barrel crates. 100 pounds, net pointed nd condition, 1.75| New York, sacked per | Danish type, 1.00al.15. | prate: demand | moderat California, 1 | ality | approxim type, | crates, stripped, fine quality and conditicn, 6.00. Lettuce erate: demand ket ady; Calfornia, crat Iceberg type, . ‘mostly 4.00; poorer low ona. crates, Iceberg type 4-5 dozen, 3.00a3.50, mostly 3.50. Onion Market Dull. pplies mo m to large -Supplies moderate: demand steadv: Michigan, | . Russet Rurals, U 8 y 340: Malne, Mountains. 1 Spinach— 4 | moderate, market about stead: bushel baskets, Savoy type, 2.00a2.25, light; demand | dy: unknown | ew York City | b | | . Tomatoes—Supplies | timited, market about origin, repacked in ripes, wrapped, choice count, 2.00a225; repacked in | Baltimore, 65, ripes, wrapped. fan count, 5.00: choice count, 4.00; Florida, originals, 6s, ripes and turning, wrap- | ped, fancy count, 3.50; unwrapped, or- | d v and condition, no early Sunplies light et strong: Florida green, 8.00a9.00, deny; wax, Eggplant Weak, supp!! lig! ligh fancy, er. Eggplant slow, market oepper crates, 3.00; cher . Peppers—Supplies light: demand light inarket steady; Florida, pepixr crate fancv, 4 .00a4 50, Squash and cucumbers—Practically demand light Texas, bushel 52.00; Western . demand mod- firm; Texas, bushei bas- 2.50a2. Supplies mod market steady, € 1.75a2 00, rket inched DIVIDEND IS OMITTED. NEW YORK. January 31 Rolis ce of America omited the quariail d of a share on the ed At this time, » | FEDERAL LAND BANK B0 Hate \ Ask M 1 v NDS. | 1Quotations turn Fandan pounad NEW YORK, Junuary §1 (4" exchuanges mixed; quotations in cent Great Hritaln, demend, 4864, cabl { 487592, d0-day bills on banks, 483 Prance, demand cables, 3927y cubles, b0 nd - Belgtim, 1392 Gormany Holland 40 27, Norway, 200 2a0m Denmark 19 231 Hpatn, Polond, 1125 Jugslavia Pomania, 617, #1200, Tokio Montreal, 90 82 1316 o8 Crecho 1704, Avgen 1 )i, Austiia 1410 AT M Wt RTINS | w ! u Went Nhie 4 Wil e g ey, | 40,000,000 mark. Business Heads of the South Concerned Over Outlook for Staple Crop. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, January 31.—Every- body connected with the cotton trade, including the speculators, spinners, planters, spot cotton dealers, and dr: goods merchants all over the country; are waiting today for the farmers of the South to determine the acreage they will plant to cotton this year. All along the line business men are putting off the making of future commitments until this question is more definitely settled. The farmer of the South is an opti- mistic_individual when it comes to cot- ton. The fact that the 12,750,000-bale crop of 1927 brought him $150,000,000 more than the previous crop, which was 5,000,000 bales larger, will undoubtedly tend to induce him to increase his acreage. So will the fact that consump- tion the world over is growing at a ter- rific rate. This is true despite the fact that efforts are being made to restrict the manufacture of cotton goods in this country to a level proportionate with orders. Carry-over Reduction Factor. The prospect of a reduced carry-over is another factor which might induce the farmer to increase his crop. Some business men predict that the planters will increase their acreage 8 to 10 per cent, Last year the acreage was 42,000,000. On the other hand, a number of factors will tend to dis- | courage the farmer from increasing his acreage. Cotton has declined 2 cents a pound since the first of the year and unless there is a considerable advauce in the price within the next 60 days business people in the South expect to make good headway with the informal and unofficial program to reduce acreage under the 40,000,000 goal set by | agricultural authorities as the danger line of 1928. There has never been any great in- crease in acreage except when market conditions showed a rising tendency in the price of the staple or the surplus carried over was small enough to 1di- | cate a god price in spite of the extent | of production. The price at present for October de- | liveries is approximately 1. cents a pound under the cost of production. There have been no official figures is- sued as yet as to the cost of producing the 1927 crop, but the schedule of costs heretofore -published by the Govern ment indicates that it was around 19 cents and possibly not under 181 cents after allowing for decreased use of fer- tilizer. ‘This, of course, is not encour- aging to the farmer. Weather Cuts Acreage. Weather conditions just before and during planting time will have a con- siderable bearing on the acreage Weather frequently has restricted acreage even when large planting was intended. It is known that the west- ern third of Texas and Oklahoma from thé Rio Grande River to Kansas has had a shortage of rainfall in the las 12 months. This deficiency has been greatest during the Winter. This short- age in that section was the chief factor in reducing the crop last year, while the eevil was the principal factor in hold- ing it down in other sections. Bankers, usiness men and a tural agents everywhere are urging versification of the crops of the South with no increase in acreage above the In the So banking and credit pressure of w strongly exerted. Other factors likely to hold downr rcreage in the South are that labor has bzen diverted from the farms to fac- | lories in the Eastern States, while tle ississippi Valley States have suffe terrific losses in mules, agricultural im- plements and labor, as a result of the flood. California acreage aiso is being watched closely. —_— HOLDING FIRM FORMED. NEW YORK. January 31 (#) —Anglo- American Holding Corporation. a $10. 00.000 organization, to deal in stocks { financial institutions and transact nd international underwrit ess, has been. formed R W ans of R. W. Evans & Co. is presi- dent. He announced the new orga zation is nof b ed nings from underwri Tover in securities. DIVIDEND MEETING. NEW YORK. January 31 (P).—The the Ch k Island & Pacific tomorrow. when tdend s expected 1o be taken in the speculation re- o o be being reported se in the §8 h vy on the ) rsied, some director as in favor of an 1 TAXES ARE ABOLISHED. MEXICO CITY, January 31 (®).— Dairio Official today published a decree abolishing taxes on ofl lands, ofl con- tracts and royalties derived from oil ex- ploitation. The taxes abolished have been in effect since August, 1918. AVAILABLE Man of 15 years’ experience i agement and ‘ownershin of high-class Dublio. garages and wervice. stations. Address Box 483-B, Star Office. F. B. KEECH & COMPANY ‘Members of the New York Stock Exchange 1510 H STREET, N. W., WASHINGTON, D. C. New York, N.Y. Chicago, 11l 52Broadway 231 So. La Salle St. Providence, R. 1. Grosvenor Building Private Wires to Baltimore Boston Chicago New York Providence Richmond Members of Washington Stock Exchange ~ Chicago Board of Trade New York Cotton Exchange ~ New Orleans Cotton Exchange New York Curb Market Live 5 erpool Cotton Exchange, Ltd. +Chicago Stock Exchange (Associate mtmbcrl‘f Cable Telephons “Keechco™ 2456, Main 245.6.7 331,% More Income With Guaranteed Safety HE average yield of high-grade railroad. public utility, indus- trial and municipal bonds, as compiled by Standard Statisties, is less than $45 a year on a $1.000 in- vestment. The vield of Guaranty Bonds is more than 33139, higher —860 a year on each 81,000 in- vested. Yet the investor will discover, upon careful analysis, that for safety of principal and assurance of income Guaranty Bonds rank equally with other issues of the highest rating. Not only are Guaranty Bonds amply secured by first mortgages on com- pleted, income-producing properties, but each bond bears an unequivocal guarantee of full payment of princi- pal and interest. backed by this Cor- poration’s capital. surplus and re- serves of 83.444.966.17 and total re- sources of $4.438.938.143. DIAY "B D IALY 0o BAY D UAD CDUAD D WAL LD UAY C D UAY CORAD CDPRAY CLRAY CLRADCLRAD ORI CLRAY LIRAY LRI CIRNAD 2 Call or write for further particulars about Guaranty Bonds, yielding 6%, in $500, $250 and $100 denom- and in maturities from 1 to REAL ESTATE MORTGAGE & GUARANTY CORPORATION 26 JACKSON PLACE Vw CARA S P AR T AR SRS TN AR Has Government Action Compelled You to Move Your Business Home D) Are you at a loss to know where to locate? stre traflic be bought in that loe: Do vou know the s on which the heaviest foot flows? Can a property ity which will be adaptable to your bu s—and at a price and at terms which your business will justify? Call Main 2345 Our thoroughly informed Busi- Property Specialists have the “Low Down™ on High-Class Busi- ne s Property in the National Capital, “THE BEST AVAILABLE LOCATIONS IN IST AND 2ND COMMERCIAL ZONES® S » | SHANNON LucHSs. Inc. 1135 K Street Realtors