Newspaper Page Text
COMPLETE DAILY RECORD OF STOCK AND BOND TRANSACTIONS
EVANS STATES 92%
OF OUR TRADE IS
DONE ON CREDIT
Local Bank Official Says
It Is "Life Blood of
Business/'
DEFINES EXPANSION
Limit in This Country Set by
GoM Reserves of Federal .
Reserve Banks.
t
Credit is the power to obtain present
wealth or the right to it in exchange
for a promise to pay for it
in the future, according to Joshua
Kvans. Jr.. vice president of Riggs
National Bank, in discussing the
"Nature cf Credit and Its Uses
With Particular Reference to Loans
and Discounts'* before officers of
the Supply Corps. U. S. N. Credit
tills the soil, harvests ?;rops and
transport* them to market, draws
raw materials from the earth and
carries them though the various
stages of manufacture- into the finished
product, constructs railroads,
homes and highways, thus facilitating
production and advancing civilization.
While not'money, credit
instruments serve all the purposes
of metallic money except that of
legal tender, and as a rule bank
credit is more desirable than
money.
In modern use. continued Mr.
Evans, credit has developed to such
a stage that it is estimated that 92
per cent o* the business of the
country is done on credit. It has
;>een well said that credit is the
"iife blood of business.'' Wisely
granted and properly employed,
conditions of banking are made
happier and a country's development
and progress go on In an orderly
manner. When extended without
regard for the purposes for
which It will be used?without a
proper consideration of existing
economic conditions?and it is used
to carry goods over the normal
turn-over period or employed in
purely speculative transactions or
reckles3 expenditures for luxuries,
we have an undue expansion, bringing
an abnormal advance In prices
with its consequent hardship upon
the community as a whole.
The limit of expansion of credit
In this country is measured by the
gold reserve held by the Federal Heserve
banks, continued Mr. Kvans.
This does not mean the maximum
amount should be outstanding at
all times. A community is entitled
to all the credit necessary to meet
its legitimate requirements providing
proper protection and security
- can be given the grantor but no
more. /The banker should feel the
responsibility of seeing that sncn
credit is available, yet on the other
hand, he owes the community an
equal responsibility in protecting it
from the evils of inflation.
We should therefore be at all I
limes inforjn^d as to economic conditions
so that a halt can be called '
when the danger signals appear.
Kfad? of Credit. . |
Credit may be grouped under two
main heads:
1. Private, when extended to Individuals.
firms or corporations.
2. Public, when extended to a nation.
State, city, etc.
Private credit may be divided into
four divisions as follows:
1. Personal or individual.
2. Mercantile or commercial.
3. Banking.
4. Investment or capital.
Banking credit is closely allied to
commercial and personal credit?in
fact, we may say that they are mutually
dependent, said Mr. Kvans. in
conclusion. Through banking credit
the surplus funds of a community
are gathered together; and Inasmuch
as experience has shown tliat
all depositors w^Il not desire their
money at the same time, banks are
. able to loan to merchants and other
customers a proportion of funds
which .they have themselves borrowed.
This proportion varies according
to the character of business
done by the banks, which in turn Is
usually Influenced by the needs of
the community. As ?. rule a bank
may safely loan four-fifths of its
deposits.
Usually the borrower from the
bank does not take the actual cash,
but accepts a credit In his account
on the books of the bank, withdrawals
to be made at will. b^,check.
If the borrower be a business man,
and the credit obtained for use In
his business, we have the creation
of a commercial credit. If. on the
other hand, the borrower be an individual.
using funds to satisfy personal
wants, we have the creation
o' a personal or Individual credit.
This shows the'close connection between
banking, commercial and personal
credit.
Local <*ecnrftle?.
Bond* occupied the limelight on
the Washington Stock Kxchange!
yesterday. $5,000 Potomac Electric
first 5s selling in U.000 lots at 80
Potomac Electric debenture 6s sold j
to the extent of $1,000 at 94*4, and
five shares of Federal National j
Hank stock sold at 170.
Call money again ruled. 5^ per
cent bid for Per cent fundt.
? =
r i
STOCKS?BONDS?COTTON
GRAIN?8UGAR?COFFEE
Bourht and Sold oa Commlsaioo.
P'Sffsrltlen and Cam mod I tie* j
Review Free, I p?n Reqaent.
.
A.A.Housman & Co.
Broad Street, %e%T York
MEMBERS:
New T,ri Stork Kn ka.gr
New York Cotton Kirbagtr
V.rfc Pwd.rr KMU>K?
* T. CoffM 114 Sugar Eacku?.
CUm(, Run at Trade
tawlalr Wemkera of
U"1'll Otto. AWKlallo..
Washington Office
MAIN FLOOR CORRIDOR
WOODWARD BUILDING
Tdcptoae Main 2040
CHARUE8 R. A I.LEV. Mgr.,
i]
COMPLETE N. Y. STO
?W. B. Hlfcfca. A Co, HI Mm BM|^ 1
' ** '
Balea. Stork*. . Open. Filch. I?nr. (Iom. rt^>
10? AJax BubbeW . 22% ?% 22% 22% '
1100 A 111* Chalmers 29% 29% 2?% 29%
200 A Ills Chalmers pf 71 >4 Tl% Tl% 71% ?1%
1?UG Allied Chem Dye ?H **% 35% fc>%
000 Amer Afrlcul Chem.... 29% '30% 20* 30% + %
200 American Beet Sugar.. ,2* :?% 24 28%
209 Amer Botch Magneto.. 29% 29% 29% ^9% ? 44
100 Amer Brake Shoe F pf. 82 **2 92 92 + \
2400 American Can 25% 26 25% 25% ? %
luo American Caa pf 82 82 82 82
400 Amer Car Foundry 123 J23 123 123 ? %
100 Amer Car Foundry pf..>|09% 109% 109% 109% + %
200 American Cotton Oil... 18 18 18 18 + %
100 American Cotton Oil pf 39% 30% ?)% 99% ? %
3U9 Amer Dm* Syndicate.. 4% 4% 4% 4% + %
2.0 Amer Expreaa UT 117 117 117 ? M
000 Amer Hida Leather of. 48% 48% 48 48 . ?1
3fc)0 Amer later Corpn 29% 30% 29% 30% + %
800 America a La Fraare... o% 8% 8 ? %
700 American Linaeed OH.. 20% 21 20% 21
100 Amer Unaeel Oil pf... 48 48 48 48 ?7
900 A mem an Locotnu S3 84% 83 81% +1%>
TOO American Safety Uaaor 4 4 3% 3%
300 American Ship Con 6% 8% 0% 0% ? %
2J0 Amer Smelting 34% 34% 33% S4 ? %
000 Amer Steel Foundry... 25% 25% *25% 25% ? %
6700 American Sugar 02% 03\ 02% 83% +1
200 A met lea u Sugar pf . .. 87% 97% 87% 87% + %
2900 Amer Sumatra Tobacco 46% 46% 45% 45% 4- \k
>0?. American Tel Tele* 105% 105% 105 105 + %
rioe Amer Tobacco 118% 120% 118% 119% +1
1100 Aiuer Tobacco Claaa B. 117 110 117 118% + %
0H<0 American Woolen 6>% 60 67 % 60 + %
60"? An'tr Mil Paper pf... 21 21% #20% 30% ?1%
109 Amtrimn /in. Lead... 7% 7% 7% 7%
ISfiN Ana/oartn C?*ppe 34% 35% 34 ^ 30 + %
ino Amihrkttii Dry Good?.. 2??% 28% 28% 28% ? % ,
0"0 At.-li. 1?,el?. 8 Fe... 84% 84% 83% 84 ? %
4?>0 A t'.-it# T"| <'ka. S Fe pf. 80 SO% 80 80% + %
?< Atlantic Cogfct Une.V. 85 85 * 85 85 +1
1000 Atl. Gulf. West Indies 20% 21% 20%. 21% + %
100 Atlantic ltefining 12% 12% 12% 12% *
9100 Baldwin Locomo 72% * 74 72% 73% +1%
2900 Baltimore Ohio 36% 36% 36% 36% + %
200 Baltimore Ohio pf 60% 50% 50% 50% + \
3300 Beth Steel Class B... 48% 49% 48% 49% + %
200 Beth Steel 7% pf 9<> 00 0O Oo ? %
109 Butte Copper Zinc 4% 4% 4% 4%
1700 Butte 8uperlor Copper.. 12% 12% 11% 12
3)0 Butterick Co 20% 26% 20% 26% 4- %
400 Caddo Oil 10 10 10 10 ? %
2tlO Calif Tacking HO 60 60 +%
5o0 Calif Petroleum ...... 3<?% 30% 3o 3o
2M> Calif Petroleum pf.... 71 71 71 71
3300 Canadian Paciflc 112 113% 112 113% +1%
200 Case PI. w 4% 4% 4% 4% ? %
154 OH Central Leather 31% 31% 27% 28% ?2%
Central Leather pf 62% 62% 58% 61% ? %
109 Cerru de I asm Copper. 24% 24% 24% 24% ? %
3300 Chandler Motors 47% 47% 46 46% ? %
1300 Chesapeake Ohio 52% 53% 52% 53 + %
1*99 Chicago. Mil. 8t Paul.. 25% 26?i 25% 26% + %
3100 CM. Mil. St Paul pf... 30 30% 3S% 30%
299 Chi Northwestern 66 66 66 66 + %
5000 Chicago. It 1. Pacific.. 31% 31% 30% 31% + %
1909 ChilcfCopper 9% 10 9% 10 + Vfc
1900 Chino C ?pp*?r 22% 22% 22 22% + %
109 Clttctt. Pen body 42 42 42 42 +2
1600 - Coca-Cola Co 31% 32 31% 32 -f %
1400 Columbia Gas Electric. 53% 54 52% 52 + %
899 Colorado Southern 35 36 35 36
2700 Col Graphopbone 4 4% 4 4
200 Consol Gas 85% . 85% 85% 85% ? %
909 Consol Textile 15% 15% 14% 14% ? %
11)00 Cont Can ...% 43 43 40% 40% ?3%
{ 1000 Coat Candy % % % % + %
100 Cont Insurance 6-? 60 60 60 ? %
2ft? Corn Products 65% 66% 95% 66% + %
loo Corn Products pf 101% 101% 101% 1<?1 % ? %
1900 Cosden Co 25% 26% 25% 26V' + %
3P00 Crucible Steel 53% 54% 53% 54% +1%
1000 Cuban-Amer Sugar .... 13% 14 13% 14 + %
1600 Cuba Cane Sugar 9% 0% 0% 0% + %
300 Cuba Cane Sugar pf... 23% 23% 23% 23% + %
100 l>en*er Rib Grande. ... % % % % ? %
290 I>enver Klo Grande pf. . 1% 1% 1% 1%
100 Dome Mines 16% 16% 16% 16%
20 Eastman K.slak 632 632 632 632 ?8
100 Elk Horn Coal 17% 17% 17% 17%
2000 Endicott Johnson 58% 58% 57% 57% +1
200 Erie K It 1st pf, 10 10 10 10 -f % .
5*00 Famous Players 47 50 47 40% +lt<?
200 Federal Min Smelt pf. . 22 22 22 22 4- %
100 FNhcr Body 88% 88% 88% 8>% +1%
599 Fl*k Rubber 9% 9% 0% 0% + %
45100 General A-pliait 44% 45% ' 43% 45% + %
200 (federal Asphalt pf M)% 99% 80% 80% ? %
500 Gaston Williams 1% 1% 1% 1%
11900 General Electric 112% 114% 112% 114% + %
1000 General Motors 10% 10% 10% 10%
200 General Motors 6% deb 63% 63'4 63% 63% ? %
409 Goodrich Rubber 31% 31% 31% 31% + %
4100 Great Northern pf 73% 73% 73 73% + %
400 Great Northern Ore sub 29% 20% 20 20 ? %
899 Gulf States Steel 31 31% 30% 31 + %
100 Haskell Bark-r Cjir ... 57% 57% 57% 57% + %
200 Homestake Mines 57% 57% 57% 57% ? %
1300 Houston Oil :. 46% 46% 46% 46%
1100 Hnpp Motors 11 11 10% lf.%
300 HlinoU Central 94 04% 04 !?4 +1
3?? Inspiration Copper .... 31% 31 % 31% 31% -f- %
400 Int< rboro Cons Corpn . . 3% 3% 3% 3% ? %
300 Interborn Con Corpn pf 11% 11% 10% 11% + %
3200 Inter Harvester Co 73 74% 73 73% +1%
1<?0 Inter Motor Truck 20% 20% 20% 21*% ? %
.100 Int Motors Truck 2d pf 58% 58% 5^% 58% ? %
5100 Inter Paper 45% 46% 45% 46% + %
300 Inter Merc Marine 0% 0% 0% 0%
34"0 Inter Mere Marine pf. . 40% 41% 40% 41% -4- %
1100 Int. r Nickel 13 13% 13 13% + %
!** Ii-Tinrible Oil 7% 7% 7% 7%
N. Y. CURB MARKET TRANS^
(W. n. Ilihhn A Co.. Uibba Bids.. Mfmbtrn N. Y. Cork
INDUSTRIALS. '* lArlft * Co 7?. '1'j
i/vi* . r? I.- ./ 16 Texas Co 7s
I2i2!!5V *" " " 1We.tKlctri.-7..
,VUT '. ' 1= Va.-t.un. Oil 7....
22 S1 -im IT1!: ,L " B #Vt,n, I n ?*,.
'' ' *r ' '' "" 3 I'nitf-d Oil S.. . .
lOO ( lereland Auto .. 24% .. r ?nRIM..v.
83 1 Swu. Govt 5'?V..
30 Durant Motor .... 27 ^
4l?i Empire rood 3214 32 32
:: ^ 83 83 HFAVY SOI
70 Griffith, D W 0 K% 0 11 LiXI f 1 uV/l
300 Heyden <'hem .... 2%
10? Peerless Motor .. 30% \
600 Sweets Co 2% . > I , 3 1
100 Swift Intl 24 VV A 1 VI
600 United Prof Shar. 1% 1A
500 U 8 Ship Corp 10
700 U 8 Steam 33 .. 1 .. - .
1^09 Wayne coal ...... 1% 1* M Further Liqu
100 Willys Corp 40 - #
INDEPENDENT OIL STOCKS. AldS in Coil
100 Ark Nat Gas 8% ^
4000 Boone oil 10 17 10 General Ur
1300 Boston Wyo Oil... 67 66 67
700 Carib Synd 4% 4 4 ??
35 Cities Serrice old. 115 114 114 NEW YORK A J
4O0 Cities 8 b certfs.. 13 .. ^ a
44)i Cuahing Pet 14 .. a ffood deal of fu
?S dation and more S<
1490 Elk Basin Pet % 0% ??%
300 Engineers Pet 40 the market durlnf
JS5^ in* today Pricei
2100 Federal Oil ....... 1A points from its ef
2 o lilen Ko.k Oil.... 7# 78 79 and ,j t0 n f,.r
T :: :: ^
H.VI Hone Oil 13 >0 1? December 13.55.
,3200 Hiidnon oil 16 l? O March 13.8S and
lUO lot Petro 1??% > eries to 14.03. Tl
Bono rjtn.. * 4 deal of nervousm
100 Maracaibo Oil .... 20 . ,
1200 Mexico Oil .... 70 65 65 uncertainty an<*
11300 Nat Oil of N J 02 90 90 longs were Incline
1990 Noble Oil Jk Gas.. 18 dUCe speculative
2000 Ohio Ranger 9 .. Wr4g |0od supporl
2SSSar?"Ref i2 " *- ho?-ever. from lm
100S.lt Creek 10% terests and just a
4300 Simms Pet 6% 1 ?.4 grams came in fr
1300 Skelly Oil 3% 3% 3% Chicago announcii
,200 T.^?DikD^'on. MM* t,0naI G,nnera' ^"S
100 Anno. Am Oil 13-4 port W? out and n
600 Staadar* Oil Ind . 70% 70% ?0% of the crop as :ow
MINING. As this, compared ^
44200 Bost A Mont 71 70 70 ernment report of
MSI Cart ? " *5 condi
7$l ?! ?l?S.r K 1? 1? Sldered as very bj
8Me? Knrrk- Croeaua .. 35 34 34 Gus lowest conditl
3000 Gold field Florence. 41 39 / 40 any cotton crop fD
20? Kerr Lake 3% .. year was 55.7 per <
1000 Mother Lode 3% .. 19Jg
liNI Mother Lode. new. '% .v..
kmi National. Tin 57 .. I^ocal shorts be
200 Nipisning 4% 4% 4% this report, besii
57*1 Tonvpah Divide ..77 was enough new s
TOO T???opah extension. U to turn the mark<
700 Un Eastern -^a .. tween 20 and 24 i
BONDS. demand ran out.
1 Aluminum 7< ..... 07% h{grh An 13.35. Dec
3 Anaeonda 7s. 21?. . 93% 95% 03 4 11 03 Mrrch
9 Anglo Am OH 7%s 1??% uaf^ ,7:
8 Armour * Co 7s. .. 07% 07% 07% cents for next Ma
1 Barnadall 8- 04% .. to 12 points over
8 Beth Steel 7s. '35. 05 04% 94% |n<? quotations. 1
7 lielh Sleel 7, '23. nSH J?V4 off aKHi? ?? ?rofU
. 8o?tberni .ellinK
1H ( 111 rtT St. stf... i03*i 10314 10354 more during the la
10 (*on. <i?? Ra.... 1WH t.-r feeling develop
j Ton. Textile. 7... ,n'H - circles, togeih -r ^
s < op Bxpiwt k?. '21 li?l'? t|je stock market.
K ' oli 7". ?*; T"e next govern
i Asphalt s. M'i WW iw% will not ho issued
G .Joodrirti TJ~ 7... WH ?UH 1. It will give lb
12 <ir.nl Trunk ?Vi?- "J'"' tlon of the crop
12<J?lf Oil 7. B7* When pUbllfhed II
I II'1'"J't t. 7<i2 7?T, compared with a
1- Humble oil T?".*.*. vT>i ?7'i ?7"? Per cent for Aukui
9 Ubi)/ M.-N 7? ? "' M(i IK Jl.t1 In 1919 and
II Morrl. * Co 7Vi?.. *J*4 " * ***? agalnat ?7 8 In 1911
t N T N H * "5 as ^contrattled with
f Sear. Roe It. 22.. W<% ?>i ?SN ".. .
Sears-Hoe la. *23.. 97% .. UB hlK? os l?r
tt h o N Y nk%..... km*, l""* "si* The government's
11 Mtwt ?t Ck ??... ?!4 ?? W lean mill consutrpt
7 soutiiweat D.1I 7a. ? % M'4 iMVj ot. July as Issued
CK TRANSACTIONS I
Nvaibcra M. T. Ittck Kifkugt)
' v IM
Kin. Sigrk.. open lllsti U> Clow. rt?? '
1H* I?la%d Oil . 2% 2% 2% 2% ? % \
r** Jone* Tim Co .
*300 Kami ll|t7 SouUi.rn . 9U 25 24(4 + % '
??< Kan* Cltr Hourtern pf 491, 4?S 491* 4?l4
saw Kelly >|'ringfoil1 (Tire. . 391, 4U 39 ?% +?H
ISJO keuMrolt Coppn 18 18 II* 11% ? 14
4<)0 keystone Tire l?u ij[(i 12J4 1214 + * '
a*K Lackawanna HtKl W 38 St 38
7w? L?iiigb v.u.jr euu :,t\ ?>o% ?>% + 14
HW Iaww'M IU. 11 ,11% 11 11% + %
140U lMtt C.ntljr 8% 8% 8 8% ? *
4<K? Iswlllard. P 117 147 147 147 --1
100 Unnkattan EieratMl 45 45 45 45 ? *
2!*KM M.i 2'ctrot?uu ?i TO ?6% ?8% +J
l? 0 ll'uiul C-<i?-r 20% 20% 1#% l''/4
S20H tin . < Oil 11 11 10% 11 ? %
iyo Midvale >'-? ! ai% 23% 23% 2?% + %
100 Mo, Kaoea*. Tt.xar -.2 2 2 2
2>1? Vti. K.itVhTill. pf. 1% 1% 3% 3% + % '.
lluu iIl.Kj.irl 1'teMe 10 1?% 1? !?% + 14
1 *1*1 Put-ilk- pf.... Ss 3?% 37% 38'/4 + %
w Miutrou Ward 1714 1714 "14 HV4 + %
- I# Lea! 72 72 72 72 ?1 1
,'? Natl Kjr. of Hex 2d pf. 4 4% 4 4% + %
1300 N V Central To 71 #914 70% +1%
300 K X .Dock 20 29 20 28
1150. N Y. N H, Hartford. .^10 1# 1*% ??
1011 NY, Oat. We.tern.... XI14 17% 17% 17% - %
300 Nortli American 0014 80% ?0% ?0% +2%
BlOO Nortk.ni IVIlc T5% 78% 75? 76% +1%
000 Okla l*roi] Itwiuln* 1% 1% 1%
200 Orplieum Circuit 20% 2014 20% 20% + %
300 Otl? Hteel 10% 10% 10% 1"% + 14
200 Owen* Bottle Machine. 27% 27% 27% 27% ? %
2800 Pacific Oil 34% 34% 31 S4% +1
3700 Pan Aaer Petroleum. . 45% W% 45% 4*% + %
, 1700 Pennsylvania It It 37 87 % 87 3714 + %
1600 l'enna Seaboard Steel. . T\ 8 714 8 + %
2700 People'. Ga. . .1 51% 53 #1% M + 11*
500 Per. Marquette 18% 18% 18%, 18%
000 Phtla Company 20 29 20 28
1700 Phillip. Petroleum 17 17 1?'4 1' ? V
-i?10 Piere? Arrow 13% 14 13% 14
1500 Pierce Arrow pf 20% 2914 28% 28% ? %
300 Pierce Oil 7 7 ?% 7 + %
21*1 Pittsburgh Coal 53 55% 55 55 +1
000 Pittsburgh Went Va... 26 2614 26 20% + %
500 Preyed-S*el Car 5714 58 57% M -? %
200 Pullman 0> 91?4 93 91% #3 + %
W10 I'oDta Aleere Diignr.... 27'4 28 * 2714 27% + %
700 Pure Oil Co 25% 23% 23% 25',
100? Kwy Steel ,K|.rln?s 74 75% 74 75% +1%
100 Kay Consul Copper..... 12 12 12 12 ? %
3400 Reading R R 6614 67% 6614 67% +1
200 Heading It II 2.1 pf 3S% 3?% 3<% 38% -1%
60il Republic Iron Steel.... 45% 46 43% 46 + %
200 Republic Iron Steel pf. 84 W 84 84
3181 Republic Truck 8% 8% 8% 8% ? %
2700 Royal Dutch 49 Bl. 49 ?1 +1%
600 St Louts San Francisco. 22% 23% 22% 2314 + %
200 St Louis San Kran pf.. 36 3? 84%? SS +1% 1
150li St'Louis Southwestern. 23% 2314 23 23 ? 14
300 St Louis Sotithwestn pf 33 33 % 33 3314. 4- 1-j
2o:l Santa Cecilia Sugar 2% S% 214 2%' + 1?
*500 Saxon Motor* 3% 3% 314 3% ?.%
200 Seaboard Air Line..... 6 6 6 6 + %
100 Seaboard Air Line pf.. 10% 10% 1"% 1?% + %
9600 Soars, Roebuck 6-1% 63% 63% 65% + %
300 Seneca Copper 14% 14% 14% 14% ? %
200 Shattuck Arizona Cop,. 614 '* 6% 614 ? %
4000 Sin. lair Consol Oil IS 18% Is lsl4 + H
2100 Southern Pacific ..... 76% 76% 76% 76% + %
17181 Southern Railway . ... 19% 19% 19% 19% -t- *A
200 Southern Hallway pf... 4' *4 45% 45% 45V. ? %
200 Standard Milling 89 - 90 89 90
SOO standard Oil pf 107% 108 107% II* + %
23*81 Stewart Warner 21% 2t% 23 23 1%
100 Sternberg Carbureter.. 29 29 29 29
300 Superior Oil 3% 3% 3% S1* ? %
1100 Texas Company 33% 34*"<? 33% 31% -r %
1500 Texas Pacific 22% 23% 22 22% ? %
?40!' Texas Pacific Coal Oil. . 16% 17% 1? 17% +1%
200 Third Avenue Elevated 14% 14% 1414 14%
8100 Tobacco Products 56% 57% 56'4 57% -4-1 '4
2IOO Transoontl Oil 6% 7 ?% 7
1W Cnderw Typewriter pf. 101% 10114 101% 101 % 1*4
1900 Union Pacific c.. 119 119% 119 119% + %
2181 I nion Pacific pf 63% 05% 65% 0-'% %
Oil l ulled Ilrug 54'4 54% 54 54 + H
1700 lnlte.1 Kruit 102 103', 102 l?3% +1%
200 rutted Rwt Invest pf. 19 19 18 18 ?1
4600 United Retail Stores... 51 51% 50% 51% + %
.VNI V S Komi I'rtNluotN I#'* lt?*4 1*1% luvi 4- A
54TO I' H liwlufl Al?thn|.... 4>,,4
J*M? li H lleulty Improve... 47 47 47 47 4-1
1* ? UublHT 30 . + *
300 U B ltubtwr l?t i?f W w-' ^
J?*? 1 8 8m?lt Kofg pf im? 1???; II* |I??J4
201(10 r s Hteel 73*4 J4% 7:?S <4S + **
370,i I'tah rnpPT 4~'* *
7im VaDaJium Hteel Corpn. 2h 2J? -?7?
"i0? Va-C*arolliw rW'in .... 24'i 2J'4 -4V? '-4 .
>I0 V?-rarolin? ('hem pf. 157 ?7 "??
2?i0 Va Imn. Coal. Cofce... 63 H3 (B ?3 J0<?
Vlvaudou /. **4 nv" # ?r" "7" *
HIM) Wabattb U R nf A.... 2??S 2?*4 ***
200 Well* Fanto E*pre?*. . TA M ^ ^ '
200 Wenlern Maryland ... ?>*i 0^4 **4 ^
We^era iVlflc R U ^ 22,,
1?00 Western 1'nlon Trleg . M*4 HO >, Ml ? ^"1*
30i. >Ve?tinfho?!He Mff 43' . 43^ 43'-. 43 ? 4- ^
200 White Motora 31 Vg 32 81 Vi 31 + V?
am White Oil *
1?0T> Willy* OrerlNnd r.Va + %
-m Willy* Overland pf. .. S>'n 30 ? +1
2011 Worthington Timp M.. 3H'i 3?'t .VI 30 ?
Total sale*. 43ft.flOO nhare?. again*! ."41.000 yesterday. 44.>.B?o
a week ar??. 3H?.?iO?? a year ago. an<l 707.200 "f":
From January 1 t? date 107.7M.020. against 143.03ft.029 a >ear
ago. and 1K?.040.3ft4 two year* ago.
actions france issues
rr:, new obligation
.. i
. 1004 100% 1?(?% ??? ^
: ?% ?% Issue of 200,000.000 Francs Is
' i'"?i 99 99 To Promote Sugar IndusBOXl>8.
\ v , N
. h7*4 try in r ranee.
I Hr KN The 1,,rench government has ju?t
kllAUiAmil issued a loan of 200.000.000 francs
J QPI I IMP through the Comptoir National
1 UUiLlril) d Kscompte de Farhs in aid of the
sugar industry in France.
According to advices just reldation
Also ceived by the Bankers Trust Com.
. pany. of New York, from its French
triDUting tO information service. French sugar
* I production for 1921 is estimated at
iceriainiy. 280.000 tons, as against 165.000 tons
?? last year and 877.000 tons in 1913.
K 12. There was **ut for the very oeveA drought it .
" " , . wbuld probably have attained 350.r
,ocal "I"1* 000, tons thi? year, a, the area
juthern selling on planted in beets had been increased
j the early trad- by nearly 20 per cent over that of
? went off 16 ,a8t year.
- , - . In 1913 the area in beets was
th?1 266,200 hectares (a hectare Ig 2.4<
down tr. 1H1 acres>' an<i ln is2n. only 81,840 hecJanuary
IS 60 tace8, ??'inB l<> destruction by the
next May dellv- w,ar Out of 213 factories that were
here was a good r?>"'"'sr in 1913. only 70 exist now.
ess and general These are- however, more than able
local Wall street to take ^are of the present crop.
*d to further re- France's normal consumption of
holdings. There 8UP*r is about 706.000 tons a year.
t to the market. and aside from home production
portant trade in- 8he Kets 100,000 tons from her coloit
that time tele- nles- Thi? ,8 imoorted free of duty,
om Memphis and and only pays the excise tax of 500
ng that the Na- francs a ton which is levied on all
relation's crop re- sugar consumed in France.
lade the condition The duty on foreign sugar has
- as 57.4 per cent. Just been raised from 200 francs to
arlth the last gov- 500 francs p?r ton. so tnat the cus64.7
per cent for tomed now has to pay in taxes
tion. it was con- alone 1.000 francs per ton. whereas
ullish. The previ- the prewar price of sugqr was only
Ion on record for 350 francs a ton.
r this time of the
;ent of August 25.
sua Bureau is due to be announced
gan to cover on or* Monday, August 15. at 11 o'clock,
lies w(iich there OUr tlm<peculattve
buying Tho I'lverpoo! marketa. which
;t up sharply be- wa" somewhat heavy in the early
[joints before this trading, after a firm and higher
October sold as opening, rallied with our market and
ember 13.78, Jan- closed firm near the lop at 11 to.
14.12 and 14.25 15 Points ?*-t advance for the near
y deliveries, or 8 months and 10 points for the distant
yesterday's clos- deliveries, as contrasted wlb the rise
Phe market went of bnt 2 n J points due to have met
taking and fresh our closing prices ?t yesterday. Spot
but rallied once co*ton there was in quieter demand
ist hour on a bet- than recently with the price up 4
Ing in Wall street Points to S.f-'d for middling with the
vith the rally in day's spot gales 7,^00 bales.
' ' Tent's
ment rrnn rei.ort ? "l""' Hi*"1- ?> >?. Owe.
... L rePO" Oct IS.SO H.ST. 13.11 l*."ll 13.a
I until September i>,c 13.B7 13 74 13..V. i?.& t? Ki
le average Condi- Jan 13.7U II.Wl 13.on u.?j ls
as ?f August 25. 14.12 13.sa 13.K7 18-fis
s figures will be " = ? ?>? '" '<. *
condition of ?7:S LZl x,L^ ~'mU"
?t 25 of last year. .
55.5 In 1918, as ' 1 ???
i and 61.2 in 1916
i 69.2 In 1915 and t nllMe^ Bo*?la fcnd PeAugust
25 1.14 r"
uTtor the RIEMER & CO. 0.
thruueh the C4n- i j ? i I
complete n. y. bond sales
?w. B. HlbW A V, HlhW BU(. Itaktn *. *. Iiwk Uekuol
??^ ' ^ 4
loda^jS-I0.??: -^SP' 12-?Total Bales of bonds on tbe Stock Bichtnfr
i?o aaralnat 110,471,000 yesterday. $11,119,000 a week
I te' dJti oA/f" ?BO, and 112,<76.000 tw6 yean ago. From January
two yearn ajo ^000 a"aln,t ?* *T7.?0T.D#? a year a*o. and $2.631.11S,0#D
Mcuf^y?and 'tl5 !i?hmiP,,t* 'If1 ?' ^ond ^ale* tod?>' Total aalea ot each
y an<* "* high, low and closing prices are given:
(In fl.ftOO)
Thmta Ohlaa.
iTsr a VI, ... C1** thorns nuk Low CIom
1 S * S- **a * ? 1 deb 4... mi ?
1 ? S Liberty u? J? *?" ? **GBLH*P Co 5. 84* .'. 7 ..
5 H J '-?! '?' ?* 87.S0 ?T.M ?T!?4 5 '*? ?* MS S?
'? < ? tr$. m.,10 J ? I Rr* *' 4*-- 21 20 u
**15? ** 8710 w ? ? ? ? 5 J Jf' drt * M UK >a\
- U H L 3d 4%a re*. 91.72 ... 18 N Y Tel gen 4%s.. 82
14 t! 2 ^ ? 4Si*9l g6 " ? *'* 1 \ 4 A. 43 45
? S ! i'." 4Ul OT #0 87 82 ? * ? i . "* 4* "H
? V J Mc 4\. reg.. 88.30 .} 2 * w**? ?'l . 1*%
*2 S ! J!ctorT 4*" #8.72 MM #8.72 " *or * ? Tel T?... 102* 102* 102*
oOS U 8 Vletory S\a.. AH 70 1)8.88 88.88 J ''?e l-r la 4... 78* 78 T?
FOREIGN' BONDS. 8 Nor therm Perlle 8a 101* 101 101
1 Argentine Gurt 5* 69 .. ^ Male* p lat 5*. 79^ 7? 791^
l?% Be'stum 7*a in" lo.l* 101% * * C l?t la. #u*? 94* IKJ*
J ?* *)um *> 100* 100% 100% * 2??? 8 L rf? 4?? 81% 81% 81%
S Ilelcium #?, 192,-1 . 9414 83% 94u * Pec Ou a Elec 3a 78%
? CUlaew (lort R 47% 8, Packard Uuter 8a. 83% 83% 85%
4 City of Ucrcea 8a. Ba'i n 08 ^ E* 2 R 7,1 '* 10<* ?<?* 1 %
4 C of llordeaui 8?.. KS'i ss 88 7 Pe B B 5e... 8?% 88% 88%
4 Clt? "I llerae ??.. 98% 88% 88% ft* B tc. 4%i... M8%
"'"t*0 5?? 77% 77% 77% *J P" H K ron 8%.,'. 98% 88% 80%
8 C of ChrlMUaia Ha 01;% 00 98 4 I e B It O-U 4%e. 80
2 City uf I.job. 8i.. MS 1 P Get * Q of C 4a 74%
2 C of Marseille* ? . 83 1 Pere Marqonu 4a. 07% ..
f flty of Parla 8a... 99)1 .. 7 Pk" Co Sa 98% ..
? City of Tokyo 5a.. 84 82% 84 ' Public 8 ot N J 3a 08
11 City of Zurich 8... 100% 99% 100 * Beadle* lea 4e... 73% 73 . 73
8 Danlali Mun, 8a A. 101 100% 101 " H'P IrD? * 8 5a... 88% 88% 88%
. 4 Daalah Mud. 8? B. 100% 100 100% 1 Bto <? A W l?t 4. 88%
i Com llepubllr 3a. 78% .. , * Bio G * W col 4e. 58 50% 30%
IS D C 5% Dotes. '29 93% 93% 93% 5 B I A * L 4%a... 87 ?S% 87
9 Do of Can 5a, -28. 93 92% 92% J *t L I II * Sa.. 88
47 Pyeecb Govt 8a... 100% 99% 100 * * ItLUtttt ref 4a... 72
388 Preach Gert 7%?. 93% 95%e 93% 4 8tX.IM*8tt*G 4 4a 87%
33 Ira Japau lat 4%a. 86% 83%' 88% 47 Pr la 4a. A 81% <1% 81%
24 lm Japan 2d 4%.. 88% 83% 88% 17 ?tL*S? 3a, aer B. 7S% 72% 72%'
14 I Japan atrl In 4e. 72 71% 72 7 ItLAUP era C. 89% 8?% 80%
20 K of Denmark 8. . 101% 101% 101% 18 Bt t * 8 T adj 8a. 87% 87% 87%
1 K of 1 8%., A. '20 '88% ^!v BO It L I 8 f lnc 8a. S7 58% 87
12 Sweden ? *?% 8.-.% 88% 1 M L ??' lat 4a... 88
0 Norway 8-. 103 102% 103 23 8t 1. SW ton 4a... 84% ?3% 8t
18 Bep of Chile 8a... 08 97% 97% 18 *' * sw Terra 3a. 81% 87% 87%
14 8wl?? Gort 8. KM 1(13% 100 1 * A IJne 8old 4a.. 81%
5 S of Kno Paulo 8a. 9N 9 8 Air Line adj 5t. 21 ^7% 27%
20 CKGtBAI S%e, '21 90% 99% 99% 1 *e?>?l Air Uoe 8a. '49% 48% 48%
22 I'KGtlUkl 5%a, '22 99 !l?)| 9?% 88 ?l"clalr Oil 7%a.. 91% 91% 91%
30 I'KGtMl 5%?, '29 89 88% 88% 1 Hou Bell T A T 5a 83
33 I'KlillUtl 5%a. '37 87% 88% 87 83 "?? Pactllc cat 4a. 81% 81 81
40 C 8 Braiil 8a 99% 9s% 99% 8 *ou Pa.He rf* 4a. 78 73% 76
10 U 8 of Mexico 5a.. 43% 44% 43% 1* 8"? P?c col tr'4a. 72 71% Tl%
8 IT 8 of Mexico 4a.. 34% 33% S4% 12 "?? "*)' '-on 5a... 84% 84 84
RAILWAY AND M1SCEIJ.ANEOI8 BONDS. " "ou 11W) gen 4?... 57% 57 37
7 Am Af ( hem 7%a 9<1 93% 9? 10 Tl|lr<? Ave adj 5a. . 12% S2 12
8 Amer Smelting 5a. 78% 78% 78% 1 Ter A of St L 4%e 82
31 Am T * T cat 6*.. 100 99 % 99% 7 Tide Oil Co 6%?.. 9? 93 96
11 A T A T col ttr 5. 83% 83% ?3% ?' T St L A Weat 4<. 48 43 48
1 Am T A T col 4a 79% .. 18 I nion PncIOc ?a. . 99% 93 99%
1 Am Writing P #a. 70% .. 27 I n PanSr lat 4a.. 81% 81 81
4 Ann Arbor 4a 54 .. .. 15 la Penile crt 4a.. 83% 83 83
12 A A Co r! eat 4%.. 89% 80 8?% - 1 ? T""k Car 7a. .. 101%
4 At T A S F gen 4a 77% 77 77% 1 I B of S P ctf. 4a 28
2 ATJtsr adj 4a. atp 70% .. 2 L' 8 Bub 7%n. '30. 100%
3 AtTASF T S L 4a. 74% .. .. 9 I' S Rubber 5a 78% 78% 78% ,
4 A C L lat con 4a.. 78% 33 f 8 Steel a f 5a... 94% 94% 94%
7 Atl rrult ct 7a .. 39 38 38 2 ' tah P A Light 5a. 79%
1 Atl Reflkery ?%a 100% 12 W" Elec A Mfg 7a. 101 100% 100% I
24 Atlaa Powder 7%n 98^ 9?% 98% 1 We.t Maryland 4a. 54%
14 Rail A Ohio ?>... 90 89% 89% 1 W A L E ref 4%?. 49%
8 B A Ohio ref 5a. .. 72% 79% "?% Wilaon A Co lat 8" 8?% ..
28 B A Ohio cat 4%a. 89 68% 89 a wileoa A Co cvt 6? 82 *81 82
17 B A Ohio gold 4a.. 0tl?i ?9% 09%
3 It A O pr la S%v. tu%
4 UAO 4a. TAC dir. 55 54 % 53 ! ________ .
** fcisttal!"'-.". ?* 'z'i "tt i foreign bonds i
1 n 7?. M?r D 90 ! (Fur nil bed by W. B. H:bb? * <KJ ||
3 Krooklyn R T 7?.. .'JIU ||
1 ltutsh T^rm con u?. 72^
J? ?'an Northern 7*.. 103 103 iierlin 4? 12% 12% 12% |
24 Can NortUern tt8"< 98% 98% : V.renter )U>rlin 4t.7Z.... 11% 11% 11% I
2 (' of <; U> con ?% Itn-men 4%? 14% 14% 14%
28 Ontrul fen K8 H8 | Coblenx 4s 14 14 14 '
5 Cerro de Tasco 8?. 100% 10.'i% 1<?.?% {('oloirue 4h 13% 13% 13%
5C & Ohio con 3%.. 90% 9o% 110% Dresden 4a 12 12 12
12 T A4Nd?rvt 82% 81% 81% V>rr?4m 4%% 13% 13% 13%
? V\A Ohio ?en 4%?. 73% .. D.ie??eMorf In 13% 13% 13%
1? C 4 Ohio ctI 4%h. 7(i% 7:.% 7.*.% Eaaen I* 13% 13% 13%
0 Chi A Alton 3%*. 30% 30 Mi ! Frankfurt 4% 14% 14% 14%
1 I'liAg 4*. IIHIv 80% Frankfurt 10% 1C% 1?%
3 ('Mg 3%a. Ill div 74% 72% 72% | llamhcrg 3t 1?% 1?% . 10%
37 I'lWkg joint ?%? .. 101 ~'1U0% 10j% j Hamhur* 3%e 11% 11% 11% I
3 C'lii (ia? it Light 3a 80 .. j 11 :i Hi berg 4s 12% 12% 12% !
I <*hi Oreat Weat 4a 5o^ .? Hamburg 4%a 14% 14% 14^4
10 CMAMtP cvt 3a. D. 67% ? ? 0? 1^-ij.aig 4%s 14% 14% 14%
1 C VI A Ht 1* gen 4a ??% .. I.?ij.xig 13 1^ 13
3 CUAaStl* CM 4%s. 77% 76% 78% Munich 4* 13% 13% 13%
23 CMAHtr cvt 4%a. 63% 63% 65% Urraan (knt 8a 11% 11% 11%
2 TMAMtr rfg 4%a Oman limt 3%a 11 14 11
2LC M A Kt 1' 4a, '23 73 (iertnan <;ort 4? 12 12 12
T CMAStl' d 4a. '34. 56% 56 56 tierman <iovt 5s 12 12 12
3 CMAHtr 3%a, B. .%U% Krupp 4? . 13% 15%. 15%
2 CMAMtP 4.. fug 8 60 % Bad is.-he .kniiine 4%-.. 15% 15% 15%
15 Chi A NW ?%*. .. lt o% ?J9% lgO% Allgem Ele. k *i+* 4%?. 13% 15% 15%
1 C A NW g"n 3%s. 67% Meininger Bank 4*.. U% 14% 14%
1 C 8t I. A rifts 5a. W Norddentncher I. U 4?.. 14% 15% 14%
3 C R I A P r*n fa 72 71% 72 jvUnna 4^ 2% 2% 2%
44 CRIAP B rfg 4?. ?7% 67% ?7%iVi*-nu? 4%a 2% 2% 2%
i Chi I n Sta 0%e... 104% 104 104% Vienna 5? 2% 2% 2%
1 Chi A West Ind 4-s .*?9 | Fr**u?-ti 4a 51% 51% "'1%
SI Chile Cop crt 7*... 93% 93 93 j Frcm-h Tin ?f'a ?4% ?4?,
69 Chile Cop col tr 70 69% 60% French Premium 5? 74% 74% 74%
4 t'CCAKtl. (i M 4" ?* British Victory 4s 2X6 2-? 2^6
3 C C C A St |. 6a.. K9 Nati mal War l.?an 5^.. 3M? 3W 3??
1 I'olo Industrial ."?s. 73% .. W.ik Ix?an 5s 32s 328 32^
1 C.-Tab.-Record 6*. 79% Italian 5a 35% 35% 35%
4 Cons Caa crt 7s... 101% 101% 101% Italian Notes. 1925 43% 45% 45%
32 Cuba t'ano Sug 7*. 61% W?% t>i% B< lgi n Itea 5- 72% 72% 72%
7 Cuban Am Sug 8*. 90 9s% 9S% Belgian Premium 5a. . . 70% 7ti'- 76%
4 1'ultnn Rnilrohd 5a
I Del A Hud ref 4s.
* 3 IN?I A IIudson 7*.. lt?4% | ??' i
zi s% zv foreign exchange.
4 l?et Hdiaon 5a. 'f??. 79 (Furniahed by American Security and |
3 l> River Tun 4%s. 77% 77 77% Trust Ce.) *
1 l? In Rays 4%s.. .58% L???
3K Hup de N P 7%*.. 97 96 % 97 ..
32 Dun Uglit A P 6a. 92% 92 92 , ...
5 Krie prior Hen 4*. 55 54% 54% 'wall
Krie gen Heo 4s... 42% Fngland. pound 3 6R 3
1 Krie est 4s. iwr A. 38% Canadian, dollar .. .
1 Krie r\t 4*. m>r B. 3S% I Hongkong. l?M-al 5?73 .7?2.?
4 l.rand Trunk 7a... 161% 401% 101% Shanghai, tael 60 l.?7^
3 fien Electric 6a 101% 101% 101% France, franc .0,4^
6 C.eu Elec d-b 86% 86% 86% Belgium, franc 0772 .<?*??
64 tireat Northern 7a 106% 99% 100% Switxerland. franc 17 Wj
22 tioodyear Tire 8a.. 101% l?il 101 Italy, lira 0145 .<k?11?
36 H A M ref 5-*. A.. 66% 66% 66% Uennany. mark "124 -,r~r
38 HAM adj inc 5s. 42 41% 42 Denmark, kroner 16 i*J
16 Illinois Cent 6%?. 160% 190% 100% Norway, kroner 13 1?*m
5 Illinois Cent 5%s. 91%* .. .. Sweden, kroner 2113 -J1
1 111 Cent rfg 4s 75% .. .. Czecho slovakia, kroner %.0129 .0188
1 111 Cent 4s. *52 70% .. .. C.reece. drachma _ Hft3
1 III Cent 4a. *33 71 .. .. Holland, fnllder 312.j
2 III Steel deb 4%s. Sl% .. .. Spain, peseta 1**3 .l-?3
1 Indiana Steel 3s.. 89% .. .. Japan, yen ?87? .^l.?
2 Interb-Metro 4%s. 16 .. .. Au?trii. kronen
3 I-M 4%a. T C ctfa 13% 13% 13% Poland '484537j
32 Interb R T ref 5a. 56 35% 55% Rumania ^ .0134 .0?
1 Interl Agrlcul 5s.. 80 .. ^ *D.-aw only In U. 8. dollar*
6 Inter M M af 6a .. 79 48% *%
3 Iowa Cent rfg 4s.. 40 39% 40_
2 K C Ft S A M 4s.. 66% 66% 66%
21 LeTO^..1'^ '93 H Breadstuff Movements
2 L O of St L l?t 3a 78% - I
3 I^ke SAMS 3%? ?W5V? ?? ?? '
2 Lehigh Valley 6a.. 98% 9S ( 98 jjgw TORK. Aug. 12. ? The followiog
5 I.ig A Myers 7s 167 BhoWs tbe movement of breadstuffs at New
2 Long I deb 3s. *37. 61 .. \o k today in bushels of grain and barrels
JV Lorillard Co 5*.... ?f a^ur; Receipts. Kzports.
3 LAN 3s St L div. .32% .. Wheat lOl.WM 104.0 ?0
2 L A N col tr 5s.9" Ccm 78.6O0 17.?0?
2 Man Ry con 4s... 56 o^ts M.0U0
11 Mexican Petro 9*. 97% 9. 9.% TXonr Iflt.OoO . Sl.'-of
3 Marland Oil 8a 90% Th^ Mport ^earanees from the seven prin5
Mid vale 8 crt 3s.. .6% 78 /? i** r|p-ll ^ of th<. Atlantic seaboard t Near
2 MAStL ref est 5a. 39% York. Roaton. Philadelphia. Baltimore. New5
MAStL 1st rfg 4a. 40% ^ ??? p(rt N>w, o.alveaton and New Orleans I thus
21 MBtPASSM con 4s 80 _ _ far w(wk ? compared with eor-espond76
Mo K A T laf 4s.. 60% w w lBf 4>y of latt w^k> bare been as follows:
1 MKAT ref 4? ctf*. ?*> Today. This wk. Lasf wk
3 Mo Paelflc 5a. '65. 77 - riomT s<<0n0 lS3.?6t 96 0<?
3 Mo Pacific gen 4s. .3% ?^3% JJJ WbMt S22.0?>0 6.063.(0J 6.541.4V 0
' 12 Mon P Co 5s. A... 86% 86/4 so* corn 17.030 266 0 81 2>?.0t??
1 N Y C A H R 3%s 66% . . lOO.tJOO 180.000 100.000
21 NVCAHR deb 6s.. 92% 92 9-% ^xpmrin of whe.t fn>m tbe four porta
24 N Y C A II R 7s.. 102% 101% 102% (N>W York. Boston. Pl?ilade|phU and Haiti6
NYCAHR deb 4s.. 78% 78% 78% wpf9 128.000 bushel*; last year.
1 NYCAStL lat 4s.. 79% .. 799.000.
/ V
/^r'
The Valnation^f the Property
represented by our First Mortgage Notes is always
forty per cent to fifty per cent in excess of the
amount of the loan. Thus the-principal is amply
protected at all times, even should there be a possibility
of a decrease in property values.
Added to this essential element of safety is our
record of 52 years without loss to an investor. Investments
in our First Mortgage Notes on Washington,
D. C? improved real estate provide fair interest
yield, with maximum iafety.
0
Swartzell, Rheem & Hensey Co.
727 ISA St eet N. W.
WaAuftos, D. C
The Nation a Home Town
*
v , M Years Wltkam 1m ? mm lamter
8
- | '
| LOCAL ~|
"Jusxtstraj
Kiftaan.)
0 ??~
/ bale*.
Pmmu, KUC It .-?. $1,000 *14 $1,000
? ?H. $1,000 >1 m%. $1,000 mt ?S
*"** ?* #H> fc, $1,000 at mm.
*rr?? pali^?
*>??< J? u. $1,000 .< ?s.
red Katleaal Bank. 5 at 170.
JSr? c*,! * *?** at e>4 per mk
5H 9*r cent bid.
__ '?
BOVD1
r*kh? utiiitu?.
Amrr ?d Tel 4i wu M
Amer Tel and Tel 4*a " Jf
A?*r T.1 ..4 T.I ?l ^ JJJj J}
A?? T.I and Tal na.| ,JJ
Ana<->a?ta >n(| Potomac it..., #7
Aurwtla nd Pot roar 5a <7 I.
C and I' Trtrufcuvr 5a ,?}
Lot On a ad Elrr ft*
Col flat jRd ||K MA*. * **
^?|4UI Tractloa K B 5m'.'.'.''' 87 ?7*
City ami Suburban Tie 44
C*or?etowa Gas lat Sa ?T
^Hrofa.iHan N n fc.
Potomac EW Lt 9a *?
?w?of?...r -4..*,. ^ JJ*
P'.twuar F.lec Power ? ?4
Potomac Elec Pow CM ?a.... |}k
Wart. Ale* a ad lit V ia...... *
Wl*. lUlto a ad Aa &a
W*n{itnfrtoB c?a? 5a 77
Wa>hlactoa Gaa 7*a 102 1?2*
*a?h JCr and Klec 4a 61* 82
Wash By and. Elec G-M 6a.... #2*4 93
isaaUaaaeas.
!> r Pap*r UfK fr>
Biff. Bealtj Sa <loa*) .*
Bigga Bealtj 5a (abort) 93
Stge and Safe I>ep 8a
Waah Market 5a. 1927
Wa?h Market 5a, 1947... II II
^ M Cold Storage 5a
STOCKS.
Public Utilities.
Amer Tel and Tal 104*
Capital Tractloa .......... ml *7t^
CoiuaWt ?.a. ?ad Klec % *
Eastern U and Puel
Washington Gaa 43 4Sa.
N and W Steamboat 1*1
Wa*h Jty an.I Kl**<- com j", .-511
Waah By and Elec pfd. 54% qq
W aali. Balto and Aa ?m.....
Wa*h. Italto and An prd II
Waah Ta By com
Waah Va By pfd HI H H
lfational Benkt.
Amerlraa Jto
' l?ltal * I 17?
Columbia 175
Commercial 17? "
Dlatiict 170
Farm and Mecb 2W II
Federal 170 ]80
liberty ]30
I.lacola 165
National Metropolitan 215
???? f. "
*^<"nd Igr
Waahington 1?0
frest Companies.
At Kor and Tmat . 515 224 !
Continental Tra?t 1C0 Mtfc
National Sav and Truat 27?
1 nl<?n Trust 118
Wash Iamb and Trust 250 275 1
Savings Bank*.
f?''"1 and Karlag* 155
1 Eaat Waah Saving Bunk 12Vfc
Merchants llank 147
pee Sa* and C?m Bank!...Ill 2i?5 230
| Ser^ath Street Saxiog Bank . U*
I' ni??n Saringa 112
I I S Savings Bank Oil
Washington MHtariii """ 25 38
Fire Insurance.
j Arllag toa Fire laa 9
foreran Fire las Ill 115 II I
Flr?-m?*r*? Kir* |n?
Aaicr Fire Ins " 25<l
Sat IhiuD Fire laa I '* '
Title Insurance.
| < olumbia Title Ina.. 4 5
I Real Estate Title Ins sa
Kiacellancoaa.
Col Graph?*|?)$une com 4 5
J Col CrapliopiioiM. pfd
B C Paper Mfg Co 7J
D C I'a|M*r pfd "
' r**":e Cauanea " [[
Mer.h Tran? and St.?ragr 115
jMergeatUaW I.iaot.xpe 118 120
| Old Uuti-ii M 1 rk.-t ?-orn 3 6
("W Market pfd 7 ?
; 'aa*us M<>u>>t.r|$e 71?s
.-.;unt<fff 2m
j?^** and Snf?a IV]<
I Wa?ltinjrton Market ... 23 28
METAL MARKET.
j \i:*V YORK. Aus. 12.?Tflo ?.n
markvt wa- easier attain in LonI
don ioday w ith standinc f1??I
dining; ?2 to ?155 5s. \vbil?* ftiturca
' *>Pe ?- r,? or ai Cn< id*, with
I sale,* of 1(0 ton* sj>ot and 4?9 tons
I futuros. Standard ^oppi-r > .???
lower for both apot and futurcx.
with tlic former quoted at tr<* 1
.and the latter at ?70. with sales of
250 tor.a spot and 20a tons futures:
Electrolytic copper 10s lower for
j^??ot at ?74 10s and tnehansed for
i futures at ?76. I^a<l unchanred at
?24 10s tpr spot, and spelter was
also unchanged at ?20 l?s for ?jK?t.
?
(HARLRS (
Chairman ol
i
WII.TOV E.
Prealdeat _
Vlee Prealdeat
, , ? " ' '
Prealdeat 1'
Vl^ Prealdeat. ! I
The Sourct
S! AVLNG is the one
tal. The business
> ings in his busines
banker, the savings his
ed to him.
If you have money in I
being used by business
business by furnishing
saver, and keep your n
will benefit not only 3
community.
Accounts may be op
Department wit
3 per cen
OF WASHI
On Aermsyh/anio Avenue
SHORT ELEMENT RT
FOILED, AND ISSUES
SCORE ADVANCES
Early Attack Result# uxHeavy
Pressure In
Certain Issues.
LOSSES ARE OFFSET'
Early Declines Are Wiped ,
Out and Substantial Gains
Are Recorded. .
NEW TORK. Aug. 1*.?After a
Arm opening on the stock exchan*e
the shorts renewed tbelr attacks..
Central Leather, General Asphalt
and Sears Roebuck being subjected
to heavy rpessure. and the moat
brine made of vafue rumors df
financial troubles. When. how- ,
ever, the Impression rained (round
that a statement was Imminent
In the one case which has been a
reassuring subject of serious
discussion. the shorts hastened
to cover and a good rally
in prices resulted. In the _ great,,
majority of cases the early decline.'.
which were considerably.
were v-lped out and a number of
substantial advances were substituted.
Toward the clones the
rails were higher. by a polnf In
several Instances, and *?" ? ***"
dominated among Industrials Call
money was at ? per cent through-^
OUA slightly more active exchange
business was transacted In the foreign
exchanges but the market was
still a thin one. Sterling sold
cent higher In the afternoon M
t3 MV> and at one time was * *C*B
above this quotation Italian lies
were also somewhat higher, as were
lemittances on Switzerland. HollaM
and Scandinavia. French fmcs.
however, were In supply and sagged
off SH points to 7.Si cents, wnrie
German marks were the same number
of points lower at 1.11*
Canadian dollars maintained their
recent firmness, and India rupee*
grined % o? a cent. ?t 14 cents. This
? * cent better than that of
a week ago and 1'cent better than
the price at theAtginnlng of the
month. The improvement coincide*
with more favorable reports regarding
the character of the monsoon
If the latter does Indeed develop favorably.
?*e effect on foreign( trade
and general business will be Impor
Trading In the commodity market.
continued to reflect the uncertain
feeling in speculative 2??rterr
Private reports put the condition or
the cotton crop at the extraordinarily
low figure of *7.4 P?r cent,
as compared with ?4 7 per ?*???
the recent government estimate, out
the market showed little strengtlt
After some of the fluctuations a late
price for the December future was
lt.?I cents, the let '-.as being 4
points. Wheat also failed to recognise
reports of a bullish nature,
FUch as frost in the Canadian Northwest
snd better ,xport demand. iw.ember
started firm U broke to
; (1.2(1, for a net loss of I cents
Federal Reserve Report.
The weekly statement of the combined
Federal Reserve system lea
remarkably satisfactory one The
Ca.n in reserve ratio. I.I, per cent
i. the l.rg.st in some *'?*"" .
brings the figure to a nc? high ?f
Ci ner Cent Increased gold holder
and substantial reductions In
deposits and note circulation con_
lrih.it d to th. improvement such
reductions ar> the more remarkable
, in the face of an active crop movement
snd s.gscst that
of froaen crddli" l? more than bal
awing the .ad.led demands oc......,?cd
by the new crop.
Confirmation of this point of ? i *
be found in the ?VV .
individual regional 7'
the (xcep4ior ?'
ton all these Institutions Improv r
their reserve p^itlo-s The largest
rains were made, furthermore b>
^ Western banks As a result of
this condition V*e l.-.er w.rj jW?
to .educe the amount of theif bor
-owing, from the other reg'o?,t
hanks " ?*** <h' ToI"",e w
such a.cmmodatlon M1'1'"1'"' '
now ?SS.:0#.o?0. which Is
r. GLOVCR.
r the (War*.
(H4*tFJ C. I
r. lo ^
AMIMSM
^ Caskler ,
SI cKORr.r O
VAW
wml a
I K
p?jl i 9 AallMar
i of Capital i
sourer of business capH I
man invests his own sav- .
?. He borrows from the
customers have entrust- j
be bank, your money n ja.l
men. You are helping '
it with capital. Be a
noney in the bank. You ,
yourself, but the entire ?
ientd in our Savings ,
h $1.00 or more: :
t interest \
ationallank
NGTON DC. j
feeing ihe U. S. Treasury |
