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The Washington herald. [volume] (Washington, D.C.) 1906-1939, January 23, 1920, Image 9

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Paul M. Warburg Addresses
Pan American Conference
On Financial Conditions
many questions up
Senator McCormick Pre
sents Budget Plan as
Essential.
A ^he deleK??<-a to th? Pi
yJT''cao Mn-nctal Conference at
yeaterday afternoon's wulon, i-au' M
1,, "'? former member of the Ked
workl IT"' B"ard- declared the
of r? " not '"Joy stabre standard!!
r and cred|t "ntll It again
the P?'nt wher< approximately
finlo I?nciples of bunking and
" ???- -
theriop^yL',J,h?!^ '?T hU *Mn"
' --rt. P * arKi currency stand
cr?difM? future measure ol ine
of nations."
I commit"? *OTern?"'nt credits anl
corrunercUl conditions are stabilized."
stlbli^iL T said' "we could not
?i . exchanges even if an aJJ.
po"^., fJllion. dollar" of golu were
Poured into the world: We must de
b!?" energies to breaking prices
thrirl industry, production anjj
win _ ??!y through these means J
relation.-* t0 deTelop our trnjc !
Subjects Treated,
yesterday's conference the
p?t? ? 'xch*nKe. budgets, im
d CXPort taxes and stand
<lw<ls.e^WCrc ,Bk'n up and
vJ?r , y the makers. Rlcardo
Bail w? "teL0' ^nance of Uru
Se,-T^ Pr""d,'d. was introduced
(?Secretary Carter Glass.
infnat?' M<*m McCormick. speak
prudencehe bUdKPt d"clared
'coS^inT1 minK'?J With
. ?? K ,n the organization of ex
change. ,?d cr,dlts ,nd ,n hu*
banding, the national wealth.
in the m^an **" no "oe|al progress
ess ,t r"":""'" h?
less It be foundpd llpon fruKa| up.
istratlon." <mci<at pub?c admin
col^?rPOrt of the traJ1?P?rtation
ZE',"?* read but action was
?te . 7\ " = 1 11 rould ^ "ana
lated into Spanish.
The report dealt with the sub
commele '.?Ur ^ads?maritime ;
ommercc. railroads, postal regula
"id cab,e and wireless com
munlcuflona.
I*road Study t raed.
The committee, concluding it,
ur,Vrani,purt recommendations,
urge* that the International High'
appolnt a commission!
to study the questions involved and
submit recommendation to the vari- I
ous governments. I
In connection with railroad trans- !
Port, the committee called upon the
governments involved to prepare a1
comprehensive plan to link the small !
subsidiary roads to the main trunk
systems of the continent, to stan
dardize freight and passenger rates, j
promote the construction of branch
roads and develop oil and water fa-[
ciliRes in their own countries for the I
purpose of running their own trains I
?"e?- transcontinental system cross
ing South America from east to west!
was recommended and a comprehen
sive system of highways was declared
indispensable.
All delegates from countries not i
now In the Postal Union were urged
to enter postal conventions and dele
gates were urged to advocate a par
cels post convention with an indem
nity for nondelivery.
lavlted (o lloam.
At the afternoon session Mayor
1'etera. of Boston, delivered an in
vitation to the delegates to visit
that city.
Dr. Virgilio Rodriguez Beteta. of
the Guatemalan delegation, de
clared that the two things which
had influenced the Latin-American
countries In their warm feeling to
ward the United States had been
the sympathy in their struggle for
Independence and the spirit of
solidarity which gave rise to the
Pan American conferences.
Dr. Florenclo Arason y Etchart. of
1 ruguay. made a comprehensive out
line of import and export taxes as
a means of securing revenue and the
adoption of a gold standard. He de
clared that exchange rates had lit
tle effect on Uruguayan currency, as
the people of the country reallz<yl
th^t it was fully and perfectly guar
anteed by the reserve.
? L^r. Zuberbuhler declared exten
sion of foreign trade should be on a
permanent and stable basis, as sound
commercial ties can exist only when
the buyer and seller fully under
stand each other's needs, which un
derstanding can come only by dally
intercourse.
"There is no greater stimulus to
foreign trade." he said, "than the
Influx of foreign capital." and in
stanced the trade between Argen
tina and Great Britain, saying that
the latter counry had made invest
ments in South America exceeding
800.000.000 pounds and that these
investments have become wholly
identifled with the economic life of
Argentina.
Victor V. Robles of the Chilean
delegation, addressed the congress
on the productivity and commercial
possibilities of Chile.
3 FEDERAL RESERVE
BANKS RAISE RATES
The Federal Reserve Board yes
terday announced an advance in re
discount rates for the Federal re
serve banks of New York. Boston
?nd Philadelphia, effective today
The new rates are: Bankers''ac
ceptances discounted for member
banks. 5 per cent, formerly 4* per
cent: notes with maturity with one
to ninety days, including member
hanks' collateral notes, secured by
United States certificates of Indebt
edness. 4* per cent, no change- notes
with maturity of one to ninety days
[ Including member banks' collateral
I notes, secured by Liberty bonds and
Victory notes SK per cent, formertv
\*\l comments I paper with maturity
of one to r^iety days. Including
member banks' collateral notes
secured. C per cent formerly 4\ ,K_
rlcultural paper, all maturities, ? per
cent, formerly 5 per cent; notes!
secured by War Finance Corporation
bonds,; 7 per cent, formerly per
cent. '
LIVERPOOL COTTON.
Liverpool. Jss. 2S._Bpo?. la morf
?2s *'15. H.IM
rrSTbJle? K-eelpts totaled
?S?. rairTTs""^
3TJ&
Opes. High. Low riooe
rrr'ST M U *>? *S
JJ"7* *?? ?4.7?
j*-? 2"..2 **'?
'*y. =r"? ?= s.ai
? 3D.3B 31.44 30. JO JQ 44
IB.79 19.70 lft.7p
Rudolph Again Heads
Clearing Hfote Kma.\
Cl.\0 H. RUDOLPH.
Cuno H. Rudolph, president of the |
Second National Bank of thla city, I
has been re-elected chairman of thei
Clearing House Association of Wash - !
ington. it was announced yesterday. I
H. H. McKec. president of the Na- !
tional Capital Rank, was made sec
retary of the organization. and
Charles E. Bright, paying teller of
the National Metropolitan Bank, wrn
appointed manager for another;
term.
PHILADELPHIA MARKETS.
Philadelphia. Jan. 22. IIRKADSTl'FFS?
Floor qoiet and unsettled. Quotations. per |
1?6 lbs parked in 140-lb Jute sacks: Soft I
winter straight. Western. 10.75all.25; near-1
by. 10.65811.00: hard winter straight. 13.25a
13.75; short patent. 13.7.~>al4.25; spring first. I
clear. lo.tioal1.00: patent. lS.75al4.50; abort
patent. 14.75al5.50: fancy spring* and city
mills patent, family brands. 15.5<>al6.00.
BAUD HAY AND STRAW Well cleaned
op and firm. Quotations: Timothy hay No.
1. 3?.o<>a37.00; No. 2. 34.00a 35.00; No. 2.1
31 .OOa32.PO; sample. 26.00a27.00. no grade.
21.00a24.00; clover mixed hay. light mixed.
34.00a 35.110; No. 1. mixed. 32.00a32.5?; atraw.
No. I straight rye. 17.50al8.00; >No. 2. 16.00a
16.50; No. 1 tangled rye. 15.50al6.00; No. 2.
14.50al5.00: No. 1 wheat straw. 15.50a16.00;
No. 2, 14.00al4.50; No. 1 oat straw. ltt.OOa
16.50; No. 2. 14.0Oal4.54.
PROVISIONS ? In light jobbing request
at former rates. Quotations: Beef, in sets,
smoked and air-dried. 53c; knuckles and
tenders, smoked and air-dried. 54c; pork,
family. $52; hama. S. P. cured, loose, 27a
31c; skinned, loose. 2314a26*4<*; smoked. 25*4
a27^c; boiled, boneless. 37c; picnic shoul
ders. S. P. cured. loose. 23?; amoked. 24e;
bellies, in pickle, loose, 25c; breakfast bacon.
33c; lard. 27c.
RI.'TTER (close) ?Steady. Quotations fob
low: Fresh, solid-packed creamery, fanry.
high scoring goods, 67a69c. the latter for
Jobbing sales: extras. 66c; extra firsts. 63a
65c; ilrsta. 59a62c; seconds. 55a58c; aweet
creamery, choice to fancy. 6Ha70c; fair to
good. HOa67c; prints jobbing at 74a76c for
fancy and 63a73c for fair to good.
EGGS (close)?Steady. Quotations: Free
cases nearby firsts. 21.60; current receipts.
21.no; Western extra firsts, 21.60; firsts.
21.00; nearby and Western seconds. 18.60
a 19.50: refrigerator egg*, as to quality.
14.lOalG.80; inferior lots lower; selected
eggs 7*a"?c dozen.
PRESSED POVLTRY?Fowla. fresh-killed,
dry-picked, in boxes, weighing 4 lbs. and
over apiece. 39c; 3"4 lbs. 32a34c; smaller
size*. 27a31; fresh-killed, in bbls.. dry-picked,
4 lbs and over apiece. 3i>c: 3V4 lba. 30a32c;
smaller sizes. 26a29. Old roosters, dry
pickod. 20; broilers. Jersey, dry-packed. 55a
60; ordinary nearby, dry-packed. 50a55; West
ern. dry-packed, weighing lV4a2 lbs apiece.
4Sa50; roasting chickens. Western, dry pack
ed. in bbls. 4 lbs and over apiace, 3*a40;
31, lbs apiece. 35a36: 3 lbs apiece. 35a36:
2^4 lbs apiece." 4la42; Western, corn-fed
chickens. 12 to box. 17 lbs and under to
dozen, lb. 45a48; IS to 24 lbs to dozen, lb.
45a48; 25 to 30 lbs to dozen, lb. 40*42; 31
to 36 lbs to dozen, lb. 35a36: 37 to 42 lbs to
dozen, lb. 3-~ti3ti: 43 to 47 lbs to dozen. Ib.
35a36: 4^ lbs and orer to dozen. 38a40;
capons. Western. 8a9 lbs apiece. 52a53: some
heaTier stock higher: 7 lbs apiece. 50a51;
5a 6 Ibn apiece. 47a4S; turkeys. I>elaware
and Maryland, fancy. 60; Virginia and other
nearby fancy. 58*59; nearby, fair to good.
53a55; Western, spring, fancy. 58a59: fair
to good. 53a55; old toms. 48; docks. West
ern. 38a40; geese. Western, fancy, 30&32;
fair to good. 25a27.
Receipts today?Floor. 1.574.026 lbs In
sacks: whent. 13.510 bushels; corn. 16,070
bushels; oats. 29.182 bushels.
CURB MARKET.
(W. B. Hlbbs it Company.)
,?12:13 p.m.?,
Bid. Asked.
Aetna Explosives 8 8%
Allied Packers 27 33
American Safety Razor 13*4 13%
American Writing Paper 11 14
Atlantic Petroleum 3*4 3%
Belcher Divide 17 19
Belcher Extension 30 35
U| Ledge 7 16 *4
Boone Oil
?*? 6*
?i? " 7i
Boston and Montana -. 70 72
Boston and Wyoming 1 1^
Calumet and Jerome % %
Canada Copper 1% 1^4
Carbon Stael ....*? 125
Car Light and Power 2% 2T4
Chevrolet 300 500
Cities Service (new) 42% 43*4
Cities Service ?old) 400 500
Cities Service pfd 72 74
Colonial Tire 7 10
Consolidated Copper 4?4 5
Cosden Co 9 9^4
Cosden pfd 4*4 4%
Cramps 210
Cresson Gold 2 2%
Curtlss Aero 5 10
Davis Daly 12 15
Elk Basin 9*4
Emerson Phone 4 7
Ertel Oil 1% 2*4
Federal Oil 3*4 3%
General Asphalt 112 114
General Asphalt pfd 165 185
Glen Rock Oil 3% m 3%
GnfTey-Glllesple 33 3314
Hecla 4 4*4
Houston Oil 125 135
Howe Sound 314 4
Hupp Motors 15% 16
Indian Packing 17 18
Intercontinental Rubber 13 16
International Petroleum 67*4 68*4
Island Oil 6 ?>4
Jumbo Extension 5 8
Lake Torpedo 3*4 3?4
T.ima Locomotive 80 90
Livingston Oil 14 1%
Magma Copper 32 38
Marconi of America 5*4 5%
Mason Valley 2^ 3
Merritt Oil 20% 21*4
Metropolitan Petroleum 3T4 4*4
Midwest Oil com 1% 2%
Midwest Oil pfd 2 3
Midwest Refining 164 166
Motherlode (new) 5% 6
Nevada Ophlr 35 37
New Cornelia 22 24
Nipisaing Mines Co 11* 11 \
North American P. and P.... 5% 5%
Northwestern Oil 35 40
Oklahoma Oil Co H 2
Phillips Pet 84 86
Producers and Refiners 9 9*4
Ray Hercules 1*4 1V4
Ryan Oil 8T4 4
Fait Creek 48 50
Sapulpa com ..... 644 6%
Seqooyah Oil 7-16 H
Simms Petrol 54 54%
Sinclair Golf 40 60
8tandard Motors 9*4 1<>tt
Submarine Corporation ..d.... 15 16
Sweets Co 7% 8
Swift International 53 56
Tobacco Products Export 27 30
Tonopah Divide 2% 3
Tonopah Extension 2*4 2\
Tropical Oil 20*4 20%
l'nited Eastern 3% A%
P. 8. light and Heat com 2% 3*4
r. 8. Light and Heat pfd.... 8*4 4*4
l'nited Motors 55 70
l'nited Profit Sharing V 2% 2%
r. 8. Steamship 4 4*4
l'nited Retail Candy.. 16 16*4
I sold Tire 4*4
Vivaudou 20*4 22
Wayland Oil 3% 4%
Wayne Coal
??? 4% 5
West End Cons 2 2%
Wright Martin A era 3 6
4H1CAGD
Cndahy Packing 102 103
Llbby 27% 28
Swift 4 Co 190 131
Tnlon OarbMa 74 T41*
Financial News?Stock Market Prices
News of Rediscount Rate'
Raise Spreads Gloom
In Market.
Bj BROADAIf WALL.
New York, Jan. 22.?With favorable
news having as much influence a* |
water on a duck's back Wall Street [
received quite a shock after the stock !
market cloaed today when the FoJeral j
Reserve Bank of New York announced I
a general advance in its re-discount j
rates.
Those who are long of stocks anil
are hoping that prices will advance,
said the raise in rates had been dis
counted by selling ever slnco the
Street heard more than a weak ago
that an advance would be announceO
Unbiased Judges of the market
expressed the opinion that the rise'
in rates wou\d make it more diflicult {
to borrow money so that industrial j
companies would curtail operations. I
These persons said also the industrial
companies would have to mark djwn j
inventories with a contraction in
I business.
The rise in the rediscount rates Is
expected to be followed by a stiff
ening of the call money rate.
Announcement that the Mexican l
government had made an agreement
with American oil producers which
would increase production was con
I sidered the most favorable received
I in the financial district for many
j weeks. Except for a slight bulge in
I the oil shares early in the day,
i however, the announcement failed
! to have any favorable influence.
Around noon dispatches from
Washington stated that section six
j of the Cummins bill would be elimi
nated. This was construed ax bull
ish for a time, but failed to find any
j reflection in the quoted prices for
| railroad shares. The dispatch also
I said that with the elimination of
; this section an amendment would bo
' made putting it up to the Interstate
| Commerce Commission as to what
j was a fair and reasonable rate for
the railroads. Using past perform
j ances as a foundation, the Street
I construed this as unfavorable.
The financial district had the news
I of the Increase in rediscount rates
at least twenty minutes before the
stock market closed.
,?_?_?
BALTIMORE PRODUCE.
? " I
Baltimore. Md.. Jan. 21 (arrivals by boat).
?LIVE POULTRY?Chicken*, young, large, j
smooth, lb, 35a36c; do. small to medium, lb. |
3.">a36c; do. White Leghorns. 33a3?< ; do. j
rough and poor. 32c; do. old roosters, lb,
13V do. old hens, over 4 lbs, lb. 33c; do, |
nraall hens, lb. 32a33c; White Leghorns. 32a I
33c; ducks. Muscovy, young, lb, 34a35c; do,
White Pekins. young, lb. 87a$8c; puddle, lb, j
35 a 36c; do. smaller, poor. lb. 32c; turkeys, j
choice young hens, lb, 82c; do. gobblers, lb.
[50c; do. old toms. lb, 48c; do. crooked breast. .
poor, lb, 42c; pigeons, old. pair, 80a35c;
'young, pair. 30a35c; guinea fowl, young,
j more than ])? lbs, each, 50c; do. smaller, i
each. 30a40c; do. old. each. 30c.
I PRESSED POULTRY ? Turkeys, choice
i hens, lb, 58a 5<c; gobblers, lb, 51a52c; old
j toms. lb, 48c; rough and poor, lb, 42a43c;
J chickens, young, lb. 37a38c; old and mixed.
Ilk. 3.*iaS9r: old roosters, lb. 21a22c; ducks,
i lb. SSaftOc; geese, lb, 85*4<>c; capons, lb,
4Safi2c.
ROOM ? Western Marylaud. Pennsylvania
I and nearby, do*.. 74a75; Eastern Shore Mary
: land and Virginl*. do*., 74a75; West Vir
girla, doz.. 73a74; Southern, do*., 71a72.
BUTTER ? Creamery, Western separatot
64a 85; prints % lba.. extras, 66a67; do.,
prints. 1 Iff. extras. 65a66; do., nearby, ex
. tras, lb.. 61a62; dairy prints. Maryland. Vlr
j ginla and Pennsylvania extras, lb. 46a4He;
' store-packed firsts, 42a43c; rolls, Maryland
! and Pennsylvania extras, lb. 46a48c; do.
j Ohio extras, lb. 44a46c; We*t Virginia, 44*
46c; process butter, lb. 87a58c.
. 1
OIL STOCKS.
(From W. B. Hibbs k. Company.)
Bid Asked
Anglo-American Oil New... 28'A 28%
Atlantic Refining Co 1450 1500
Borne-Rcrymser Co 430 450
Buckeye Pip* Line Co 75 98
Chesebrough Manufact. Co... 245 265
Continental Oil Co 525 ft45
Crescent Pipe Line Co.. 34 37
Cumberland Pipe Line Co.... 115 125
Eureka Pipe Line Co 14* 152
(inlpna-Slgnal Oil Co. com... 82 tB
Galena-Signal Oil Co. pfd... 108 113
Illinois Pipe Line Co 170 175
Indiana Pipe Line Co 100 103
National Transit Co 334 34 Vi
N. Y. Transportation Co.... ISO 184
Northern Pipe Line Co 100 103
.Ohio Oil Company 355 365
j Prairie Oil and Ga* Co 650 6flO
' Prairie Pipe Line Co 251 262
Solar Refining Co 360 380
I Southern Pipe Line Co 160 165
' South Pen? Oil Co 335 340
Southwest. P. Pipe Line Co. 76 77
Standard Oil (California) ... 315 320
Standard Oil (Indiana) 720 740
Standard Oil (Kansas) 65o 680
Standard Oil (Kentucky) ... 435 455
Standard Oil (Nebraska! .... 525 350
Standard Oil (New Jersey) . 750 760
Standard OH (New York) ... 425 435
? Standard Oil (Ohio) MS (M
Swan St Finch Co 100 H5
jl'nlon Tank Line Co 125 J28
| Vacuum Oil Co 420 430
Washington Oil Co 35 40
COTTON MARKET.
New York. Jan. 22.?Buying power in cot
ton was restored in the latter part of the
session today by advices from Washington to
the effect that Senate leader* participating
In the bipartisan negotiations on the peace
treaty were nearer to an agreement and the
market advanced rapidly after a poor start.
After continuing qnlet ranch of the after
noon purchasing increased In the last hour
after the publication of the more optimistic
news from Washington and compared with
the low level of the forenoon the list at its
best showed a recovery of 60 to 80 points
with May selling at 34.45.
Spot here was qnlet at an advance of 88
points at 39.10 for middling: there were no
sales. Spot at New Orleans was steady and
unchanged at 39.78 for middling; the sales
were 4.026 bales. Galveston. 11.900; New
Orleans. 12.800; Mobile. 2.850; Savannah.
8,000; Charleaton, 1.600; Norfolk. 1,800; Bos
ton. 00; Augusta. 1,700; Memphis. 5,900; St.
Loot*. 880.
New York. Jan. 22.?Range of cotton
prices here today: Prev.
Month Open High Low Close Close
Jan 37.60 38.40 87.60 38.10bld 87.78
Feb 87. lObld 96.70
March 85.85 88.48 85.65 96.25*27 85.78
April ' 84.75b*d 84.23
May 33 70 84.45 33.55 34.25*80 33 71
June 32.60 32.60 32.60 82.8ftbid 82.85
July 81.75 82.40 81.58 82.30bld 81.78
Aug 8l.80bid 30.90
R*pt SO.OObld 80.10
Oct 29.40 80.05 29.33 30.05bid 29.50
Nov 29.(lObld 29.00
Dec 28.95 29.40 28.95 20.45bid 29.00
LIVE STOCKMARKET.
Chicago, Jan. 22.?HOGS?Receipt*, 40.000.
Higher. Bnlk. $15.85*15.65; top. $15.73;
heavy. 813.15al5.60; medium, $15.85al5.70;
light. $15.40*15.75; lift light. $14.75*15.80;
heavy packing sows, smooth. 814.50*13; pack
ing sows, rough, $14al4.80; pigs, $18.75*
14.73,
CATTLE?Receipts. 12.000. Virm. Beef
steers, medium and heavy, choice and prime.
813.50*18.80; medium and good. $U.6ftal6.5ft;
common. 89.30s 11.88; light weight, good and
choice. $13.23*17.28; common and medium,
99*18.23: butcher cattle, heifer*. $6 75a
14.23; cows. $6.75*18; camera and cutter*,
$?.73a6.7.'i; ve*l calv**. 917.30*19; feeder
steer*. $8*12.80; atocker steer*. $7.50all.
SHEEP?Receipt*. 10.000. Firm. Lambs,
$18*20.23; call* and common. $14.75al7.30;
?we*, medium and good. 89.75al2.28; calls
? Ml rsmmrnt. $6*9 2%.
York Stock P
rqiMtattow
Op.8. Hl?h. Imw. CtoM.
Ad*. RumHr ... 41% 41% 41% <1%
Alaska Juneau. . 2 3 2 2
AUI* CbalBen.. 48% 40 ?8% ?%
AlUa Chal. pf... 88% 8?% M& M%
A?. A?rl Chem. ?P% (1% 01% *1%
Am. Boacb 115% JII% 1U% UK*
Am?rl<aa Caa... 52% 02% 51% 51%
Am. I'aa. pf.... m IN DO tw
Am. Car * rdrjr. 1M 13S% IH 1M%
Am. C. * rjr. pf 115 115 ll?, 118
Am. Col too Oil.. 40% 4?% *?"' 40
Am. Drotil.t... i?% j?% u% u%
Am. HM> A Ln. 24% 24% >4% 24%
Am. H. * 1.. pf. 112% 114 112% 111%
American Ira.... 45 45 45 45
Am. latermatl... 108% 108% ,1M% 107%
Am. I* Frttnro. 14% 14% ' 14% 14%
Am. Mnaeed *4% 88% *4 85%
Am. I.lnaeed pf. . WIV. IM% M% IW'4 !
Am. IjoromollTa. #7 *T% 07 07
Am. ?hp. * Cum. li 25 21% 24%
Am. Hmelth*... (IX ft* ?1 88%
Am. Hteel Fdry . . 44% 45% 44% 45%
Am. Sumatra.... US 03 01% *2%
Am. Tal. * Tal. #1% ?7% - ?7% ?7%
Am. Tobacco... 2?l% 2?0% 200 2?0 I
Am. Teh. Bar .. m% *1% 85% 85%
Am. Woolen >47% 14* i 14?% 147%
Am. Woolen pf. . lm% 184% ll>4% IWV.
Am. W. Tap. pf. 55 55 55 55
Ana Arbor ? 10% ? , 10%
Anaconda Copper (I % 81 % III *1
A.ao. l>ry -Good*. 511% 5!)'. 58% 58%
Aaeo. 1). O. 2d pf 75% 75% 75* 75%
At. To. * S. re. 83% 88% 82% 82%
Atlantic C. Una. 00% 00% 811% x?%
Atlantic Oulf.... 1?0 1?2 l?i 182
Baldwin loco 111% 111% 110% 111%
llaldwln l??. pf 101% 101% I"14 mi',
ftalte. * OlvJo... 32 32 31% 31%
Ralto. * Olilo pf 45% 45% 45% 45%
Rnrrrtt To 125% 125% 12'. 125
Halb. Motor..... 27 27 3?% 2?%
Batb. Htl. 01. B. 04% 04% M% ?4%
Hath. Htl. B5? pf. 113% 113% 113% 113%
Booth Plalicrlea.. 13% 13% 13% 13%
Rmoklyn B. T.. . 13% 13% 11% IS*
Bfiok. R. T. cfa. 0% 0% !>% ?%
Burna Brother... 108 108 10?% 100%
Bntte i Superior 27 27 27 27
Caddo Oil 22% 22% 22% 22%
Calif. Pnrkiac.. 82% 82% 82 82
Calif. Petroleum. 80% *?% 38% 38%
Calif, lvtro. pf. 74% 74% 73% 73%
Canadian PaclBc 128% 120% 128% 128%
Central leather. 01% 01% 89% 01
Cent. I<eallter pf 10?% 100% 10?% 10?T,
Cerro da Paaco.. 55% 55% 55% 55%
Chandler Motor . 123 123 123 123
Cheap. * Ohio.. 55 55 54% 54%
Chi. Mil. * S. I'. 38 :*l% 30 30%
C. M. A *. P. pf 51 >4 52'4 51', 52'.
Clil. * Nortliwn. 85% 85% 8.1% 85%
Chi.. It. I. & I'. 20 27 '."I 2?%
C It I 4 I' IX pf 70% 70'. ? 7"
Chile Copper 10% l?V 10%.
Chlno Copper.... 37% 37% 3">% ,
Clnett Peabody.. 03 113
Coen Cola 37% 37% M*i
Colorado Fuel.... 30% 30% 3*%|
Columbia (la. .03 03 11.1 (13
Col. (Irapho'n.- 51% 51% .?% 30* |
Cnnaol. dear. .. 57 57 50% Nttj
Con. (laa N. Y-. 82 82 81% 81%
Contl. Can. pf... 1(12% 102% 102% 102% J
ConU. Candy 12% 12% 12% 12*
Con. Int. Cal. M. 18% 10 18', 18%]
Corn Product.. . . 83% 84 82% 83
Corn Prod. pf... !'? 105 104% 104%;
Crucible Steel .. 204 % 21>7% 2"I 205%
Cuban Am. Kit* . 410 424 410 424
Cuban Cane Hue 51 521, 5(1% 51%
Cub. Cane Hit. pf 84% M% *4 84
Ih-la. A Hnd.on. 04% 04', !?4% 1M?i '
l>. I>. * Vi 1M% 1*4% 18t% 184%
lien. * ?. C.r. pf 12% 12% 12% 12%
Dome Mine. 12% 12% 12% 12%
Enter Brant pf.. 82% 85 82% 85 |
Enrtleott-Jobnaon. 135 135 135 135
Erie R. R 13% 13% 13 13
Erie l?t pf 10% 10% 10% 10%
Flint. Pla.vlj.kj. 81% 81% 81 81%
Fl.k Uttbher 41% 41% 40% 41
Freeport Texit... 31% 32 31% 32
tlai. Wll. AW.. 17 '17 18% 1(1%'
den. Clfar 72 72 72 72
(?en. Electric.... 107% 1(17% 187% 107%
C.en. Motor. 302 304 300% 302%
tien. Motor, deb. 81% 81% 81 % 81%
(loodrlch Rubber. 70% 70% 77% 77%
Goodrich pf 07 07% W 07%
C.rt. Northn. pf. 78 78 78 78
C.rt. Northn. Ore 38 38 37 % 37%
Greene Cananea. 35% 35% 35% 35%
Olf. Mo. * .V. pf 30 30 3(1 30
C.tllf Stale. Steel 78% 78% 78 78%
llartman Corpn.. 1'W KM 104 KM
lla.krll A Barkr. 57% 57% 57% 57%
Ullnoia Central.. 8S*. h#% 8s% 88%
Innpiratlon Cop.. 58% Vl% 55% 58%
Interboro. Metrti. 4 4 4
Interb. Metr. pf. 12% 12% 12% 12%
Int. Ag. Corp. pf 70 TO 78% 78%
Intl. Htrve.te-, 128% 130 1271., 130
Int. Mer. Marine 87% 37% 85% 30%
Int. Mer. Ma. pf. 05 fc">% 03% 01
Intl. Nickel.... 24% 25% 24% 24%
Intl. Paper W>% 81% 8? 81%
Iron Product.-.. 48 4(1 4(1 48
lone. Tea 27 27 27 27
Kan.. City Ron. 15% 15% 15% 15%
Kan.. City B. pf. 45% 45% 45% 45%
Kelly Spr. Tire. 133 133 130% 181
Washington Stock Exchange.
(Furnished br W. B. Hlbb? St Co.)
BALKS.
Washington Railway and Electric 4?.
$1,000 at .17. SI.000 at B?%. $1 000 at r?7.
$1,0fM) at T?7. $1,000 at 57. $1,000 at 56%.
$1,000 at 57>4.
| Washington Railway and Electric pfd., 5
1 at 54. 5 at 54. 5 at 54. 5 at 54. 5 at 54. 5
at 54. 20 at 54.
Commercial National Rank. 1 at 179.
Continental Trust. 10 at 109.
After call:
Capital Traction 5s. $1,000 at 93.
| Continental Trust. 10 at 108.
; Ijir.ston. 5 at 84S
I Washington ??*. 7 at 48*i.
Continental Trust. 10 at ?)7*4.
, Mergenthalcr. 5 at 13<*. 10 at 13*. 10 at
ISA. 10 at 138. 10 at 138, 10 at 13S. 5 at
138.
j Capital Tmctlon 5s. $1,000 at 93. $1,000
1 at 93
MergenthaW. 10 at 138. 10 at 138. 10 at
I 138. 10 at 13*.
I (Correction ?Total of 51.000 ltigg* Realty
5s (long) sold yesterday, instead of 18,000.)
PUBLIC UTILITY BOND*.
Bid. Asked.
Am. Tel. and TMga 79 79<i
.Am. Tel. an-1 Telga. 4Hs.. . 82*4 *3
j Am. Tel. and Tel. ctl. tr. 5s 81% 83
j Am. Tel. snd Tel. conv. 6s. 9s% 99
1 Chesapeake nnd Pot. Tel. 5s 96
Capital Traction R. R. 5s.. 93 93*4
Georgetown Gas 1st 5s 94
Metropolitan R. R. 5? 91
[Potomac Electric Light 5s.. . 94 95
Potomac Electric cons. 5s... 87 88Vi
Potomac Electric Power fls. . 92 94
Pot. Elec. Power G. M. 6s.. 97 98
Washington Gas 5? 87^4 88
Washington Rj. and Elec. 4s 57Vj 5*
W. Rwy. and Elec. G. M. 6s 90 93
MISCELLANEOUS.
TV C. Paper Mfg. fl* 97
Riggs Realty 5s (long) 91 92
? Rlgga Realty 5a (abort) 92
I W. M. Cold Storage 5a 92
PUBLIC UTILITY 8T0CKS.
[American Tel. and Telga.. >. 97^i
I Cipltal Traction 88Vj 89%
j Washington Gas ?4S,i 49
Norf. and Wash. Steaipboat. 190
W'ash. Rwy. and Elec. com.. 19 25
| Wash. Rwy. and Elec. pfd.. 53% 55
NATIONAL BANK.
American 172 185
| Capital 105
: Columbia 175 ... .
Commercial 179 185
1 District 174
Farm era and Mechanics' 240 290
Federal 185 ....
Lincoln 165
National lletropolltan 200
Riggs 450
Second 152 163
Washington 195 210
TRUST COMPANY.
American Security and Trust. 233 250
Continental Trust 10* 112
National Havings and Trust.. 265
Union Trust 115 120
Wash. Loan and Trust 244 260
SAVINGS BANK.
Commence and Savings... 12
East Washington 16
Liberty 120
Merchants' 145
Security 8a*. and Commer.. 200 .....
8e*?ntli Street 145 ..
Union 116 13#
C. 8. Ravings 185 230
FIRE INSURANCE.
Arlington 7%
Corcoran 70
Firemen's 20
German-American 24D
National Union 5% .....
TITLE IN8URANCI.
Columbia 4% 5%
Real Estate 80
MISCELLANEOUS.
Columbia Grapopbone com... 51 52
Columbia Grapliophone pfd.. its 04
Cbapln-8ackH| 135
D. C. P^per Mfg. Co. ...... 90 .....
0. C. Paper pfd M 1P2
Merrbant.' Trana. and (tor. 105
Mertea thaler linotype 1?7% 138%
4?M Dntrh Market mm 4% 9
Aarket Quotation*
fcy V. n. Hlkk. 4k. C.)
On*n. |It eh. is**. CIam.
*>% 30% 30%
13% " ?
K3
Keaaarott - Cop.,
Keystone Tire...
Lackawanna Mtl.
Lee Tlrs * Hub.
Lehlffc Valley ..
Loft (Inc.)
L*wi tem. ,-fm.
LurrlllarU Co..
Mackay Cos. pf.
Manhattan Khlrt.
Xlurtin Parry. ...
Maxwell 1 Motor.
Maxwell 2d pf..
Mar Dept. Htor
ft
K3
84
?%
22%
>1
171-%
04
*>?4
m
Ma/ Dpt. Sto. pf. lew
Max. Petroleum. 100
Miami Copper... 23%
Middle States Oil 43%
Midvale Hteel... 49%
M.Ht.i'.A S.H M.pf PI
Mo. Kan. * Tex. it
Missouri Pacific. 25%
Missouri Pac. pf. 40%
Montana Power, 05
National Acme. , 38?4
Nat. Aniline & C. 04
Nat. Knamellng. S3
National Lead... 80%
N? viida Copper.. ? 10%
N. Y. Air Hrake 107
N. Y. Central...
N Y.N.HI Hart.
N. V. Ont. A W.
Norfolk 4 W. pf.
Northern Pacific
Nora Bcotiu Htl.
Ohio Citlea <2aa .
?>klaboma Pro. ..
Oti# Flevator...
Otla Hteel
Pac. (Jan it Eloc.
Par. Tel. * Tel.
Pan-Am. Petm..
Pan-Am. Class B
PorlMh A Blngh.
Pennsylvania....
Pa. Rated. Htl....
People's (>ns....
!Vre. Manjuette.
Phi la. Com|tuuy.
llerce-Arrow. ...
Pierce Oil
Pierre Oil pf. . ..
Pittxhurg Coal...
Pittsburg Htl. pf.
Pitta. * W. Va..
Pullman Car....
Punta A legre H.
Hay. Con. (Vipin-r
Heading Rwy...
.Heading 1st pf..
Remington Typr.
Heplogh* Htl...
Hep. Ir. A HI I
Royal Dutch P
Ht. Joseph 1x1.
Ht. L. A H. Fr..
Ht. L. ft H. F. pf.
Savage Arm* Co.
Snxon Motor....
Seaboard Air L.
Hhcll T. A T
Kim-lair Oil Cpn.
Hlor?-Sheffield. ..
HIops ShefM. pf ..
Southern Pacific. 100
Kotitl.en Rwy... 21 %
Southern Hy. pf. .">414
Htromtvrjr C-arb. 72%
Htndebaker Cpn. 102%
Studehaker pf... 101
Tenn. Ccnpcr.... 11*4
Texas CotTipnny. 201%
Texas A Pacific. 30%
Tobacco Prod... 91
Trans. Contl. OH 25%
Transue A Will, 00%
1'nlon Oil |
Cnlon Pacific ...
Union I*ar. pf...
I*td. Alloy Htl..
Cnlted Drug....
I'td. Ry. Inr. pf
Ctd. Retail Stor.
r. H. F?kw1 Prod.
r. H. fnd. Alco. 105
P. H Alcohol pf. H?2%
C. H. Realty.... .*.2
H. Rubber ... 123
I*. H. Rub. 1st pf 114
16%
OS
77%
70%
40%
13(1
30%
5 7
3?
91%
*9%
?%
42
32
30
2?%
07%
1?%
04
00%
92
2?%
114%
DO
21'.
73
34%
19M%
10-i
15%
1K%
3*1
72%
1*%
74
M%
43
74%
43%
22%
31
170%
04
32%
29
30%
25%
J 22
106
190
23%
43%
49%
91
9
25%
40%
05
IM%
01%
K3U
*1
10%
14*7
?*%
20%
1?%
OS
7H%
7?%
40%
?%
133
30%
57
42
92%
K9%
42%
42%
32
37
30%
40%
0S%
19%
94
02
92
29%
114%
90%
21%
75%
34%
MO
45
10t%
107
15%
1?%
20
72%
19%
7%
*5%
43
75%
90
101%
34 ?i
121%
07
4n%
144%
27%
sr,%
*3%
r. s. 8M
V. H. Steel pf ..
I'tali Copper....
1'tah Securities.
Vamidium Corpn.
Va.-Car. Chem. .
Wabash R. R....
Wabash pf. A...
Wells-Fa rgo Kx.
Western Md. ...
Wei-tun PaHflc.
We*th?e. K1 A M
Wheeling A L. B.
.White Motor....
I Wilsor Crtmiwnv
j Willy-Overland. .
, Wool wort h
I Worthington P..
I Worthington B. .
105
115
7-.\
10
4S%
05%
M
22%
52%
11
21
52%
12
00%
2*%
120%
91%
71%
'-4
103
]01
11%
202%
37%
91
20
0O%
34%
122%
07
19
141%
27%
Mt%
00%
105
102%
52%
124
114
Ki5
115%
33
ha
34
43%
22%
?%
"0%
04
32%
27%
80%
25%
122
100
198%
28%
?%
49
90
H%
25%
40%
05
3s%
<13
H3
*?%
f 10%
107
1-0%
1?%
OH
7*
70%
45%
?%
133
80%
50%
8H
91
KX
41
42
32
30
29 '
40%
07%
-1M%
1*4
0'?
92
2*?%
114%
K9%
21%
74%
34%
K5%
45
10S%
1?5%
15%
20
72%
ls%
7%
53
41%
74%
90
9!?%
21%
54
102%
101
11%
190
50%
*9%
2-.%
59%
34
121%
07
4s%
144%
10
4s %
65%
52%
11
24
52%
12
01
29%
K5?
05
1??4%
102%
52
122
114
104%
115
74%
10
4H%
C5%4
7%
11%
OO K.
74%
2s%
120
83%
H3
84
43%
22%
80%
170%
04
82%
29
89%
25%
122
108
m%
28%
48%
49'i
90
?%
?%
40%
05
88%
08%
K3%
K1
10%
107
?H%
-?0%
10%
OH
7H%
7??%
40%
#%
188
30%
50%
42
92
K*%
42
42
32
37
30
40%
?7%
19
94
02
92
2?K
114%
K9%
'21%
75%
34% |
?%
45
H?H%
100% 1
15%
19
20
7%
M%
42%
75%
90
100%
21%
54
72%
1**2%
101
11%
2?*0%
37
90%
25%
59% |
34 J
122 !
?7 I
4*?% ,
144% '
SO
05 I
104% I
102% I
123%
114
1^% I
115%
10
4^%
' TV
=*
SMi
10% I
24 I
52%
11 Va ,
01 !
72%
2H% I
120 1
120%
92% 91 92
71% 71% 71%
High I/iw CIom* I
Call Money 0 f? ?
HOURLY HALEK OF STOCKH.
11 a. m 171.900 12 m 204 900
1 p. m . . .. 330.200 2 p. m 41H.S00
I Old Dutch Market pfd 10?^
i Iain*ton Monotype 84%
j Security Storage 200
! Security Stor. and Safe Dep. 140
I Washington Market 17
*Ex dividend.
12
M%
i
CHICAGO GRAIN.
ny JOSEPH F. PRITTHAR/l.
Chlrago, Jan. 22.?Active and strong early
> b.it slow and dull in the afternoon was the
way the corn market ran today, the clone
shewing declines of 1 to l%c with Jannary
futures strongest and May the weak spot.
A considerable umount of January was
bought and May sold in the way of undoing
a spread.
Cash corn was 2 cents lower.
The embargo on grain exports discouraged
those who bought o?ts a short time ago in
anticipation of greatly Improved demand on
eX|M?rt account. Futures were % to Kc
lower. The cash market was dull with sal^s
of 25.000 bushels at 1 cent decline.
Continued outside buying of hogs at Chi
cago was the strengthening factor in hogs
products. Bearish factors were the embar
goes on exports and the sterling exchange
situation. Tha market was rather tame at
the close, with prices a fraction lower.
Chicago. Jan. 22.?Future prices on grain
ami provisions were: Prev
Month Open High Low ('lose Close
CORN?
J" ' o ?-?H ' mi; 1.43*4
l.M l.aiH 1.33*9 l.SSW 1.33
l 1-33H, 1.31% 1.31% 1.32%
0/ TS?
??> 82% .82 11>16 .82 ,R2 ,S2%
J"" 23*1 23.70 23.50 23. SO 23.57
Mny 24.50 24.60 24.32 24 32 ?>4 4**
J"rIB8?" 24 S? 24 97 24"7 24 47 24.75
J?n 20.00 20.00 19.70 1S.70 1#.T5
Jlny....... 2?1.73 20.S5 211.62 20.62 20.70
PORK-' 21 20 20 97 20 97 2107
J"n 39 00 30.00 39.00 39.00 39 00
M,v S9.S3. 39.37 39 00 39.00 39.17
THE NEW
YORK CURB
The Only Curb House in
Washington
Allied Oil
United Statea Steam
ship
United States Steel
In my opinion the above
stocks should prove a
gooc buy.
\ou are cordially invited to
i . -,*it Br ird Room showing
( i;i+> quotations.
M. tP. Drain
'Brakcr
I ^1 G St N. W. Ttt M. 3160
L*r***& : ' .
LOAN FOR PERO I
TOOPEN RAILS
I 1
Holland Foresees New T rade
When Pan American
Gap Is Filled. "
r?? >
Joseph P. Grace, who hu suc
ceeded his father, the late Mayor
Wflfiam Grace, as the president
of the International Commercial or
ganization which Mayor # Grace
founded, must have heard with
pleasure a statement made by Dr.
Fernando C. Puchs, who is minis
ter of finance of Peru snd who is
now in Washington as a delegate
from Peru to the Pan American Fi
nancial Conference.
Dr. Fuchs is quoted as having
said within a few hours after his
arrival at Washington that he con
sidered the question of perfected
transportation In the various South
American nations represented at the
conference as the most Important
matter to come before the confer
ence. For upon the high develop
ment of transportation, railway and
steamship. will in great measure
'depend the securing of the prosper
ity of the South American nations
which mean* so much to the United
States in the way of increased
trade.
Tabaec* Tax Net A aide.
Dr. Fuchs went into some detail,
saying among other things that the
Peruvian government has set aside
the tobacco tax at* security for a
loan which, when floated, will serve
to'complete the Peruvian Miction of
the Pan American railway system.
It was Mayor Grace, in association
with his brother, Michael P. Grace,
who organized the syndicate, partly
Knglish and partly American, which
furnished the funds for the comple
tion of the railroad from Lima up
Andes Mountains to the divide
at an altitude of 14.000 feet. It la
one of the chief marvels of railway
construction to be found anywhere
in the world. From the divide.
American capital, which Is In pos
session of the Cerro de Casca cop
per mines, constructed a railroad
which gives these rich mine* ade
quate transportation facilities to
(the United States. Now. Dr. Fuchs
states, that Peru, having obtained
a loan, will complete the Peruvian
section of the Pan American rail
! road.
If Dr. Fuchs* forecast be accurate
the construction of this contemplat
ed railroad will justify the predic
tion made by Mayor Grace some
I years before his d**ath. that the day
was not distant when the i eruvian
[link in the Pan-American railroad
system will be built, and when this
is done then a long Htep will have
been taken towards the completion
i of a railroad system which will
make it possible to take a Pullman
car either at New York or Chicago.
[ or on the other hand at Buenos
Ay res. and travel without break
| between these cities of the North and
|South American continents.
May Be Pialahed In Tea Years.
! When Peru has finished her sec
ition there will remain comparative
ly little to b" done. It is possible
that within the next ten years this
inter continental railroad will have
i been completed. It will serve to de
velop almost inconceivably great
commerce between the United States
jand the South American nations.
I As though to emphasize the state
j ment made by Dr. Fuchs announce
: ment wan made shortly after he
'thus spoke of the operation early
l in February of a through limited
train betwen New York City and
I Mexico City. This train will run
(without a break anywhere. It will
j be made up after the manner or tn*?
most luxurious of special trains of
the United States. TTiere will be no
delay at the border excepting that
which will be due to the examina
tion of passpors. It will carry a
company of distinguished American
industrial leaders who are to partic
ipate In the trade conference which
Is to be held in the City of Mexico
in mid-February. "HOLLAND.".
BALTIMORE GRAIN.
I Baltimore. Jan. 22.?WHEAT?Sale*. none.
TORN?4'ob. yollow. 7.50 p*r bbl.; white,
i 7.40 per bbl.; track yellow. No. 3. 1.63 per
bavbel: Ann.
CORN-*-gale*, none.
OATS?No. 2 white. 94. No. S white.
93<4.
RYE?Nearby. 1.Artal.73 p?r hu?hel; No.
2 Western export. 1.8"4 nominal.
Hay (carload lot*?No. 1 timothy. 34.50;
standard timothy. 33.50a34.00: No. 2 tim
othy. 33.00a83.ri0; No. 3 timothy. SO.OOa
31.50; No. 1 light clover. mixed. 38.00; No.
2 light clover, mixed. S0.ri0a32.00; No. 1
clover, mixed. S2.50; No. 2 clover, mixed.
2H.50a31.00; No. 1 clover. 33.50; No. 2 clover.
29.00a31.00; No. 3 clover. 25.50a28.00.
8TRAW?No. 1 Htraight rye. I7.00al8.00;
No. 2 atralffht rye. 15.50al6.00; No. 1 taa
? fled rye. 14.00al4.50; No. 2 tangled rye.
1 12 00a 12.50. No. 1 wheat. 12.00a 13.00; No.
' 2 wheat, ll.00sll.50; No. 1 oat. 14.00al5.00;
No. 2 oat. 12.50a 1S.50.
New Tar*. Jib.
karate aualr: aallad ui i
a.traa, W^tl.. do. ha
blcber tkaa citraa. diHadKr: Hi* *mtrj
MaMr; MnaiH aitraa. ?7a*T*a;
lailtatioa mw
CMMMll _
aiUk. aparlala. ITatlc; da. f.ar, IMS':
do. lawn gradaa. IMtV: Wkraaril
" hoi. alllk. (aarf. }<u( I ??rlraa. CM
Mr; lliu 'akin. apartala. IlaJkr; da.
"??"a. 17.iar, do. h
lowrr fradra. Salk.
? Mart* ataad;; |
?rata. MaHc. da. km, 7*
ila7Jf; grata. S7aOAr.
I
FOREIGN EXCHANGE.
Naw York. Jam. 22?Tadar'a rlaalac rataa
ot urbaip N all tkt prtartpa! a>arkrt>
w?r? aa follawa: MtrrUac tau4. IC\
rabla. (.a*. Bukm. <0 Aaja UTt:
?0 dara. a M%. praara rbarka. 11.M;
rablaa. ll.ft. Btlflnn. rbarka. 12.12; ?Hm.
12.2B. Uarmaaj. rbarka. l.?0; rablaa. l.M.
Aoatria. rbarka. .(T; rablaa. J*. Uallaad.
rbarka. ,tt\ ; rablaa. .*7%. Itml/. rbarka.
U.nT: rablaa. 14 08 aalaa rbarka. i.(T.
rablaa. i.U. StorkboUa. kraaar rbarka.
?'.?>: rablaa. 10 45 Ohrlatlaala. rbarka.
1*50; rablaa. U.TO. Opaabafra. rbarka.
1S.H0; rablaa. 17.00.
MONET MARKET.
New York. Jan. 22.?Moo*? on call oa th#
New York ?tock ruhinff today rutH at ?
pr rent all tlay. Tt?? mooty condition*
showed little or do change today, borrowera
HtiU bidding 8 and 8% par ceat for loan* oa
indu* trial collateral and 7 aad 7?* par cent
for loana oa mixed collateral. Little baal
nfnm waa done, however, and busineM wai
oonfii.ed moNtly to renewal*. la brokerage
circle* today it wai atatcd that oae large
institution waa offering HO-day money for ?
per cent, bat that nothl* bot liberty bond*
would be accepted aa collateral.
Mercantile paper rate* were alao an
changed at 6 per cent with the boaineoa done
being mostly for out of town account.
EQUITABLE^
CO OPERATIVE BUILDING
ASSOCIATION
Orgaalsetf 1871.
dfttb TEAR COMPLETED.
4?*eta I4,NS^7?J1
Surplaa. IIM7.127JI)
SAVE BT A PLAN
Pat the plan lata operation
by Joining Ike Kqnitablr. Be.
lax ayntematlc eaablea yon ta
nccompllab more tbaa If yaa
tried to areanalate a aarplna ;
>? a hapbaaard aaaner.
ffabacHptftana far tbo
78th Issue of Stock
Relag Received I
Shares, $2.50 Per
Moath.
4 Per Cent Interest
EQUITABLE BUILDING
915 FST. N. W.
IOIIX JOT ED?OW. Preoldent.
PVtAJTK p. REKMDF. fteer. I
SAFEGUARDING
SAFEST INVESTMENT
It Is a generally recognised
fact that first mortgages are tha
aafest investment in the world.
We would like to send you our
new b>oklet telling of the many
safeguards we have placed around
OI'R first mortgage six per cent
notes, which we believe make
security doubly secure and which
constitute the chief reasons for
our record of fifty years without
loss to an investor.
Swartzell, Rheem
& Henaey Co.
727 13tb street Jf.W.
?____S
SpwVjb fm m.. ?. j
luT *"* *' ***** ***'*? rmm
ream ?
*?, n^??, nam.
urn stock ? Oktw. wr u
ta-h. M
T.??: Btrtat hem taitM. ThuM mt
ptaat par rrmU. lataaja. " *?>
T.V par art.; torts, kt tor toato: latto
l? tor tout; i iln i. 1 ?
rprta* otto.. IMal.M par
toltol. tor Mllnl ark. r?tot
tot*??* miU; UUM tor
taml; kalr. 2 60.J 7L par tantl; rhrtk
UMiw. par tnia. l?L?,
Utoatoaa. 1.
w
RITE to
us for full
Information ?
regarding mt 12
Moatk SariagPlan.
This plaa ntora
a castomer to par
chase stock oat
right oa a safe
and scare bask
Stocks boaght for
margia or far
cask.
r\
T37
0. H. GORE &
COMPANY
Baakers and Brokers
14161214 H St. N. W.
Member* of
Stock Eickuft of New York
F. A. CONNOLLY,
Haaacrr.
Telephone Fruklin SS99
A THRIFT WEEK
SUGGESTION
LOSSES in speculative accounts are
largely due to OVERTRADING. After
you have decided your available specu
lative funds will sufficiently margin ?
certain number of shares, take only
half that number on double the margin.
W. B. HIBBS & CO.
Hibbs Building
A Limited Amount of the 1% Cumulative Preferred Stock of tke
Wardman Park Hotel, Inc.
<laear^arated Under tke L?w? af thr State #f TlrglBla)
Is Offered to the Public at Par, $100 Per Sbare
Authorised Capital Imi?< Stark
M.000^00 PVrfarrHI
Cumulative dividend* of 7%, payable semi-annually, on the first day of January
and July of each year.
Redeemable at the option of the corporation in whole or in part at $105 per shar?
and accrued dividends.
THE WARDMAN PARK HOTEL is the newest and largest hotel in Washing,
ton, probably the largest south of New York. It is impossible,, however, to supply
the demand for its accommodations.
Only one-half of the authorized preferred stock has been issued and only a lim
ited amount is offered.
Controlled by the WARDMAN ORGANIZATION, which bears an unques
tioned record of 20 years of success without loss to any who have invested in its
enterprises.
OFF1CBRS: DIRECTORS!
Harry Wnrtmi, PrnHfH Harry Wartaaa r, AiImI Pillr,
Ttw. P. !???". vie* PmMrat ll>M D. H?kka MwiH L. flwk
.lames I). Ilobba. :nd Vice Prea. aa4 freai. ? ~ ?
Hnbkert R. Qalater. Secretary
j
Subscriptions Received at the Office of
HARRY WARDMAN
Wardaaa Buildiag, 1430 K Street N. V. Waskkftsa, I>. C
The legal detail* at lb la laaae kare bee a
Uaalel Tbew wrtfbl. at Waatlaitw, D. C.

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