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Evening star. [volume] (Washington, D.C.) 1854-1972, January 07, 1922, Image 15

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1922-01-07/ed-1/seq-15/

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American Traders Show Con
fidence in Stability in
More Activities.
The Belgian industrial revival is be
ing maintained in spite of the usual
slackening: of business due to annual
stocktaking: and a somewhat smaller
holiday trade than is usual at this
season, says the Department of Com
merce. in a survey of that country's
business conditions. Unemployment
shows a considerable decrease, par
ticularly in the metal industries. Sev
eral blast furnaces have been re
lighted. A favorable feature is the
fact that many mills are working: on
orders for the export trade. The sit
uation in the window glass industry
is even more favorable. Coal pro
duction for October registers an in
crease of 30,000 tons over the pre
vious month. The retail price in
?lex, which has been steadily advanc
ing since July, remains stationary.
This is probably due to the recent
appreciation in the Belgian franc.
American traders in Belgium have
indicated their belief in the stability
of Belgian industry by their increas
ing interest in trade promotion ac
(General Trend Favorable.
Aside from the usual slackening of
orders preceding annual stock-taking,
which is particularly felt by textiles,
the general business and industrial
trend for December maintained the
favorable showing of the previous
month. Renewed attempts of Ameri
can manufacturers to locate markets
through the mediums of projected
sales organizations and general ac
tivities. especially noticeable among
American motor and tijie producers,
are reflections of the industrial re
vival and confidence in the mainte
nance of increasing Belgian purchas
ing power.
An encouraging decrease in unem
ployment has proceeded steadily since
October. Conditions in the "metal in
dustries are generally favorable, and
iron and steel production has shown a
considerable . increase as a result of
the relighting of a number of blast
furnaces and the resumption of ac
tivities at the Ougree-Marihaye plant,
which has been practically closed for
some time due to a strike among the
employes. On account of increased
rolling mill production, prices of
finished steel, which advanced during
November, are now stationary.
Optimism Is Noted.
Notwithstanding the seasonal slack
ening of orders, a distinct feeling of
optimism is noted generally In the
textile industries, and the greatest
drawback at the present time is the
uncertainty due to the ustable ex
change. The flax market is unusually
active, and a considerable export
business is being done, especially
with Great Britain.
The official retail price index (based
on 100 for April. 1914) which in
creased steadily from 379 on July lo
to 394 on November 15, has registered
no further increase and stood at 393
on December 15. Imported foodstuffs,
except coffee and American flour, all
declined in price during December in
harmony with the improved Belgian
exchange. The market for American
staple foodstuffs is satisfactory" and
competent observers state that an op
portunity exists for bringing about
an increased use of corn products, if
efficient demonstration and instruc
tion methods are employed. Hide
stocks further decreased during the
month to 162.300. and the market con
tinues active. Rubber stocks have
been decreased to 13,095 tons. A regu
lar increase is noted in the sales of
American machine tools, although
some dealers still hold stocks which
will require several months for liQUi
Adverse Balance Shows Decrease
for Exports and Imports.
According to a cable message to the
Department of Commerce from Com
mercial Attache C. E. Herring, dated
Berlin, December 30. a slight de
crease was reported in the volume of
O.erman exports for November as
compared with the previous month;
the decrease in imports was more
noticeable, with the result that No
vember shows a greatly diminished
trade balance by volume.
The total exports during November
amounted to 19,079,000 double cent
ners, valued at 11.912.000,000 paper
marks, whereas in October they
amounted to 19,700.000 double cent
ners. valued at 9.700,000,000 marks.
During November German imports
totaled 25,380,000 double centners,
with a value of 12,278.000,000 paper
marks, compared with an October im
port of 3^,00D,000 double centners,
valued at 13,900,000,000 marks.
The decrease in the adverse trade
balance by volume was due in part
to the abnormal imports of raw ma
terial during the former month,
caused by the anticipation of further
decline in the value of the mark, as
well as to the expected increase of
import duty. Higher export prices
are also an important factor in con
sidering the trade balance as the
value of practically all exports in
creased even where the volume de
clined. The total gold value of Ger
man exports for November was much
less than in October, it must be re
membered, on account of the fall in
Conditions in Netherlands Are Re
ported Growing Worse.
The general economic and financial
situation in the Netherlands is re
ported as grownig worie, according to
a. cable from Trade Commissioner
Howard W. Adams, The Hague, to
? he Department of Commerce. Busi
ness failures during the past year are
nearly double the failures reported
during 1920. Unemployment as a re
sult of the industrial and financial de
pression continues to be a most
serious problem; 45,000 workers are
reported as being unemployed. A
strike in the metal industries, which
lias been going on for some time, has
not yet been settled.
Tax returns for the month of No
vember show a decline of over 2,500,
ono florins as compared with the same
month of last year, in spite of the
fact that the present taxation aver
age is reported as approximately 50
per cent on gross income.
November trade returns show an un
favorable trade balance of 69,000,000
florins. Total imports during the first
eleven months of the present year
are given as 2.000,000,000 florins, while
exports during the same period to
taled 1,300,000.000 florins.
The Dutch East Indies' loan of
$100,000,000 passed the Dutch senate
on November 29.
NRW YORK, January 7.?Reorgani
zation of the board of directors of the
Central Railroad of New Jersey and
the election of five new directors to
fill vacancies, caused by the resigna
tion of George v. Baker, sr., and
others. Is announced.
The new board consists of William
fi. Bealer. Theodore W. Reath of the
Pennsylvania railroad. A. H. Harris,
vice president of the New York Cen
tral; C. M. Shriver, vice president of
the Baltimore and Ohio; R. E. Mc
carty, C. S. W. Packard, Henry
<lraves, jr.; E. R. Ackerman and How
ard W. Maxwell. A chairman will be
chosen January 17.
Stork ?f Pir
iMdrt. aM*.
ruber Body rorp.. q.. $3.50... Ja?-21 Feb. 1
Ktsh. Body Cor., pf.. q., S1.7S.Jsb. 31 F,b. 1
sh.il Tr. A Trad. Co.. 8Sfcc. .Jan. IS Jan. 31
Swift Int. Co., >. fl.20....Jaa. 21-ftb.S,
SLa^Jtobbu Co, jUwAJIUI Aa.?
Received hy Private Wire Direct to The Star Office.
Opm. Hlft. low Class.
VJax Rubber 16M IT MM 17
Allied Chemical... SSM MM 6*M MM
Allied Chemical pf 102M lOtM lOJM JOSH
V1U?Chalmers.... ttM BH ttM M*
Vra Agr Chem SI tlM 11 UM
Vm Bank Note.... 68M UM OH ?M
' ti Beet Bumf M MM M ?H
Am Beet Sugar pf. <3 St 62 62
Vm Bosch Wi W4 ?* ?*
Vm Can mm nV4 u M
Am Can pf M M M M
Am Car* My.... M2M MtM 14IM
Am Car 4 Fdy pf.. US* 118% UtM UMi
Vm Cotton Oil.... V tOM ? ?M
Am Cotton oil pf.. 41M 41M _41M 4IM
Am Druggists.... ?H 4* 4M '**
vm loe n to to to
Am Ice pf 73 74 78 74
Am International. MM MM MM UM
vm Linseed I0M MM 29M MM
Am Linseed pf.... ?7 67 JT 67
Vm Locomotive... 1MM 10M4 104(4 Itt
Am Radiator M tt tt M
Am Safety Razor.. 4>4 4M 4M 414
Vm Ship A Com... SH 6M tV4 6M
Am Smelt I nc US 44 4SM 44
Vm Steel Fdy 12V. UM MM MM
Am Steel Fdy pf.. 9* MM tt tt
Vm Sugar it It U UM
Am Sugar pf tTM 87M tiM tTM
Am Sumatra...... MM 36M MM MM
Am Tel* Tele*... 1UM U6M U6M U6M
Am Tobacco U0 1M U0 MO
Am Tobacco <B).. UtM IMVi U6M l?M
Am W Wks 6% pf.. 19 It It U
Am Woolen TtM TtM Tt 7?
Am Zinc & Lead... U U It It
Anaconda 4IH 49 4SH 49
Asso Dry Goods... 44 44 44 44
Atchison 92 V4 KM 92M
Atlantic Gulf..... MM MM MM tOM
Baldwin Loco MM 9SM MM tt
Balto * Ohio MM MM MM MM
Balto & Ohio pr... 11 B KH
Beth Steel 62 62 62 62
Beth Steel (B).... MM MM 66 M
Booth Fisheries... 6M 6V? tM tM
Bklyn Rapid Trn.. 7M 7M 7M TM
Bklyn RapTrctfs. t t t 6
Burns Bros UtM UtM lit ??
Burns Bros B w 1.. tl tl 11 tl
Butte (Jupptr tM W 6M 6M
Butte & Superior.. 21M 21M 21M tlM
Butterick 80 80 30 10
California Pckg... 6?M ?M W 69
California Petrol.. 46 46 46 4t
Canadian Pacific.. 11SM U?M U9M U9M
Carson HiU Gold... 12M 12M UM 11M
Central Leather... tOM MM S0M tOM
Central Leath pf.. M #4 #4 M
cnandler Motor... 60 ? <9M 60
Ches & Ohio MM 64M M M
Chi Great V pf... > 16M 16M 16M UM
Chi Mil* St P 17M 17M 17M 1TM
Chi Mil * St P pf.. I1M tlM tOM tOM
Chi * Northwn t2M 62M fcO MM
Chi * Northwn pf. 101M 101M 101 101
Cnl RI & Pacific.. SIM SIM tlM tlM
ChlRI*P7ftpf.. M M M M
Chile Copper UM 16M 16M 16M
CCC&StLpf 74 74M 74 T4M
Coca-Cola 42M 42M 41H 42
Colo Fuel 26 26 24M 24M
Col Gas MM *7 M>M S7
Col Uraphophone.. 2M 2M 2M 2M
Col Graph pf 10 10 10 10
Comp Tabulator.. 67M 67M 67M tvM
Cons Clear 23* 29 23M 29
Cons Cigar pf MM 62 MM 62
Cons lntl Cal Mln. 6M 6M 6H oM
Cons Textile 14 14 14 14
Corn Products.... 93M 93M M KM
Cosden * Co 88 88 tt tt
Crucible Steel M ?4M M MM
Crucible Steel pf.. SUM UM 82 S2
Cuba Cane Sugar.. SM 9 Mi ?
Cuba Can# Supf.. MM 1TM ISM l'.M
Davidson Chem... tlM 61M tOM 61M
Del Lack * Wstn.. 114M U4M 114 H4
Dome Mines SUM 20M 20 20M
fcnclicott-Johnnon. 77 77 7/ >7
Endicott-John pf. 106M lOtM 1MM 106M
Brio 9M 9M 9M 9M
Erie 1st pf MM MM 14 14
Kris Id pf ????????? 9M tM tM tM
Famous Playsrs.. 76 '.TM Tt TtM
Famous Playrs pf. MM MM MM MM
Fisher Body 79M TtM TtM TtM
Fisk Rubber UM 12 11M 12
Gen Asphalt 67M MM MM tt
Jen Asphalt pf.... 92 92M 82 MM
Gen Electric 137M 1I7M IS7M 1*7M
tien Motors tM 9 tM t
Gen Mot 1% dsb... 88 ts 88 ts
Goodrich pf MM tOM MM MM
Gray*Davis UM ISM 12M 13M
lireat Northern pf. 71M TIM VIM 71M
Uuantanamo bug.. tM tM 8H tM
Gulf Mo & N pf... ? 16 16 16 IS
Gulf States Steel.. 4SM MM 46M MM
Haskel 6t Barker.. TTM T7M TI TTM
Soukton Oil .. 7IM 73 TIM 71
upp Motors 11 UM 11 UM
Inspiration....... MM MM MM MM
Inferboro Metro... tM 1M 1M 1M
Interboro Met pf.. SH 4 SM 4
lntl Harvester.... SIM UM UM tlM
lntl Harvester pf.. 106M 106M 106M 106M
lntl Mer Marine... 14M 14M MM 14M
lntl Mer Marine pf MM ?6M 66M tSM
lntl Truck 1st pf.. TIM TIM 7lM 71M
lntl Nickel UM UM UM UM
CtTPaper MM (0M tvM 60M
invincible Oil MM 14M MM MM
island Oil 2M i-M <:M *M
Jewel Tea 10M U 10M 11
jewel Tea pf MM 40M 89M 40M
jones Tea........ 87 .7 ?7 *7
Kansas City Sou., 22M 22M 22M 22M
ttaiiMS * Gulf Co.. T T 6M T
Keliy-SprinK Tire. 36 MM SSH 36M
Sennecott 26M 2S zsM it
Keystone Tire.... 16M IT 16M 16M
Kresga (S S) 110M U1M llO'-t U1M
Lee Tire * Rubber t7M *7M 2TM 2TM
L^bigh Valley.... KM MM (SM 68M
Loews lno UM 12M 12M 12M
Loft Inc t 9 9 t
Loose-Wiles 86 MM M 86M
Louis* Nash lOtM lOtM 109M 109M
Manhattan Kiev... SIM MM 86M UM
Mackay Cos pf MM 69M 6?M 69M
Market St prior... UM 86M MM UM
HSrlandOU UM 26M 2SM 26M
Maxwell (B UM UM UM UM
May Dept Stores.. 104 106 104 106
Mexican Pete 110 lilM 109M 110M
Miami Copper MM MM 26M MM
Middle States Oil.. 12M 12M UM ISM
Mldvale Steel 29M 29M MM 29M
Mo K * T W 1 TM t TM TM
MoK*Tpfwl... ttM MM 26M UM
MO Pacific........ 17 17 MM 16M
Mo Pacific pf MM MM MM MM
Montana Power... 64 6TM M MM
Montgomery Ward 1SM 18M 18M UM
Mullins Body 19M 19M 1?M 19M
Natl Biscuit 128 128 128 128
Natl Biscuit pf.... lit 116 1U 116
NaU Enameling.. ? 8tM S8M UM **M
Nevada-Copper.... MM 14M 14M MM
N T Central....... T8M 7SM T3M T3M
N T Chi * St L.... 63 63 U 68
N Y Chi & St L 2d.. 62 62 62 62
N Y N H * Hart... 13M ISM UM UM
Norfolk*Wstrn.. MM MM MM KM
North America.... M MM M MM
North American pf. UM UM U StM
Murintfi'ii ? h? .. ?... TtM TtM 76M TtM
OEIahomaProd... 2M 2M 2M 2M
Orpheum Circuit.. 12M 12M 12?i UM
Otis Elevator UT UT UT UT
Otis Elev pf 93 S3 93 93
Otis Steel 9M 9M 9M 9M
Pacific Oil 46M 46M MM MM
Pan-Am Pete MM 61 MM 61
Pan-Am Pete (B). MM MM MM MM
Pennsylvania SSM UM StM 8SM
PennSeabd Steel.. 9M 9M tM 9M
people's Gas tlM UM tlM UM
Peoria* Eastern. 11 11 11 U
Pere Marti pf tl 61 11 tl
PhilaCompany... 82 SSM U SSM
Phillips Petroleum M M M M
Pierce-Arrow UM UM UM UM
Pierce Oil.......... 10M U 10M U
Pitts Coal S2M UM UM UM
Pitts* WVa 24M MM MM MM
Pitts*WVapf... TIM TIM 7iM TIM
Pressed Steel Car. UM UM UM UM
Producers* Ref... MM UM 26M 26M
Public Serv of N J. 66 66 68
Pullman Co 106M 106M I0SM 106M
Punta Alegre U UM 82M MM
Pure Oil UM U StM M
RaUway Stl Spr... MM UM UM UM
Ray Con Copper... MM MM MM I4M
Reading 72M 72M TIM 71
Reading id pf 4T 47 41 47
Rep Iron* Steel.. BM UM 62M KM
Royal Dutch...... M MM 49M M
St Joseph Lead UM UM UM UM
St L* San Fran... MM tl UM U
St Louts 8own pf.. S3 U tt tt
Saxon Motors tM tM SM IM
Seaboard Air LIM. t S I >
Seaboard ALpf... 4M 4M 4M 4M
Sears Roebuck. 62M_U ttM OH
Seneca Copper.^.. MM UM MM UM
Sinclair Oil UM 1IM 19M UM
Southern Pacific.. 78M 79 TtM 19
Southern Railway. U IS 18 IS
SouthernRypf... 47 47 47 41
Stand Oil of Cal.... w mm ? ttM
stand Oil of N J... 173 174 lis 1T4
Stand Oil N J pf... I1SM usM I1SM 1UM
Steel * Tube pf... TTM TTM TTM TTM
Btromberg Carb.^ tt . MM tt . UM
Opts. Hl?h. Low. OloM.
Studebalcer aoH S1H SO* 81
Submarine Boat... 8H t% SH 8%
Superior OU n Hi K W
Superior Steel am KM MH MH
Tenn Copper ?H 8% SH
Teles Company... <IH 48H 48 48*4
Tesaa Oulf Sulphur 40 40H 40 40V4
Texas & Faclflo... |W M Mi Wi
Texas A PC* Oil. 84 H' 84H 84H 84H
Third Avenue UM ym UH 17*
Tobacco Prod sstt 64 ??* 68*
Trans Contl Oil... ion io* 10H 10*
Uslon BaK A Papr. S?H MH i88H MH
Union OU 1?* 18* 18* 18
Union Paolflc 12s im* IM 128
Union Pacific pf... n* T1H Tl* 71H
United Alloy Steel, ts 28 88 Zi
United Fruit 122H 182H 121* IS*
United Retail Stra 81* 82* 81* iltt
U8Food Prod.... ?H ?* ?* 9*
US Indue Alcohol. 88 88(4 ST* 87*
U 8 Realty 67 67 66* 66*
US Rubber 62* 62* 61 62*
US Steel 82* 88* 82* 82*
US Steel pf 114* 114* 114* 114*
Utah Copper 61* 62* 61* 62
Utah Securities... 10* 11* 10* 11*
Vanadium Corp... 81* 81* 81* 81*
Va-CarChem 28* 28* 28* 18*
Va Iron Coal A C.. 87 87 87 87
Wells-Pararo Exp. 69 68 69 89
Western Paclflo... 16* 16* 16* 1?*
WesthseEftM... 49* 49* 49* 49*
Wheeling ALE... 6* 6* 6* 6%
White Motor 86* 86* 86* 86*
White Oil 9* 9* 9* 9*
Wlckwlre Spencer 14* 14* 14* 14*
WlUys-Overland.. 6* 6* 6* 6*
Wool worth 139* 189* 189 189
Washington Stock Exchange
Washington Gaa 7^s?$500 at 10514, *500
at 105^.
Capital Traction 5a?$500 at 05, $500 at 85,
$1,000 at 05.
Washington Railway and Electric com.?2
at 40.
Commercial National Bank?5 at 130, 2
at 180, 3 at 180.
Capital Traction?5 at 97, 1 at 97, 5 at 97.
5 at 97. 5 at 97, 5 at 97.
Bid and Asked Price*.
Bid. Aaked
American Tel. and Telga. 4s 87 87V*
American Tel. and Telga. 4^s.. 95 96
Am. Tel. and Tel. ctl. tr. 5s.. 94 94\
Am. Tel. and Tel. conv. 6s.... 109 100?2
Anacostla and Totomac 5a 75 80
Anacostla and Potomac guar. 5s. 75 80
C. and P. Telephone 5s 9114
C. and P. Tel. of Va. 5s 88 90
Capital Traction R. R. 5s MH 95
City and 8uburban 5s . 79 81
Georgetown Gas 1st 5s 80 ....
Metropolitan R. R. 5s 94H 95
Potomac Electric Light 5s 91 ....
Potomac Electric Light cons. 5s 89
Potomsc Electric Power 6s.... 98 ....
Potomsc Elec. Power g. m. 6s.. 98U
Pot. Elec. Power and ref. 7s... 104% 105
Wash.. Alex, and Mt. Ver. 5?.. 22 ....
Wash., Balto. and An. 5s 78 79
Washington Gas 5s 88 89
Washington Gas 7%a 105 106
Washington Rwy. and Elec. 4s. 6514 66
Wash. Rwy. and Elec. g. m. 6s. 95%
Rlggs Realty 5s (long) 90 .....
lMrrs Beslty 5s (short) 97
Washington Market 5s, 1927... 87
Washington Market 5s. 1947... 84
W. M. Cold Storage 5s 80
si OCKS.
American Tel. and Telga ?115 V,
Capital Traction 96
Washington Gas 49
Norfolk aud Wa*h. Steamboat.. 189 ...,
Wash. Rwy. snd Elec. com 40 ? 42
Wash. Rwy. and Elec. pfd.... tVfti* oe
American 155 J SO
Capital 185 200
Colombia 172 ....
Commercial 128 150
District 168
Farmers and Mechanlca' 220
Federal 170 180
Liberty 130 ....
Lincoln 170 ....
National Metropolitan 210
Rlgga 450
Second 148 165
Washington 185 200
American Security and Truat... .*218 ....
Continental Truat 98*4 100
National Savings and Truat.... 280 ....
Union Trust *117
Waahlngton Loan and Truat.... 266 272
Commerce and Sarlnga 160
East Waahlngton 14U
Merchanta' 147 ....
Security Sarlnga and Com 203 230
Seventli Street 150 ....
Union Savings 114 ....
U. B. Sarlnga 220
Waahlngton Mechanics' 25 ' ....
American 250 ....
Arlington 9 ....
Corcoran 115 ....
Firemen's ....? 18 ....
National Union 7*4 ....
Columbia Title 5 .
i Eatate Title 95 ....
Columbia Graphopbone com...'.. 2>4 3
Columbia Graphopbone pfd 9% ....
D. C. Paper Mfg. Co 75 ....
Merchanta Trauafer and Storage 110
Mergenthaler Linotype 127**
Old Dutch Market com 3 6
I Old Dutch Market pfd 8 ?
| Lanston Monotype 71 72
? Security Storage *210
J Waahlngton Market *26 ....
i ?Kx-dividend.
Co-Op entire Boildiaf
OI81BM 1878
Assets 94.MS4K.TO
?mrplu ?l.lll.aSXM
Save While You
?Make up your mind to save
something each pay day and watch
it grow.
Sab.crlptl.ua far the
82d Issue of Stock
Betas Received
Shares, $2.50 Per Month
4 Per Cent Interest
915 F St. N.W.
Stop and Think
Did you ever stop to think
that to get anywhere in this
world of ours you must put
some of your income to work
for you?
A man may earn a good sal
ary or make a good profit
from his profession or busi
ness, but if he spends all. what
is there for him to fall back
on? ?
You can purchase our 7%
First Mortgages on the Par
tial Payment Plan and have an
income working for you.
' Write for tookkt
Mortgage Loans
1412 Eye St. N.W.
Main 2IM
Trading Is Little More Than
Customary Week End Ad
NEW YORK, January 7.?Prices
were firm to strong (or the most part
during today's brief stock market
period. Dealings represented Uttle
more, however, than the customary
week end adjustment of speculative
accounts. Oils led the rally at gains
of X to 3 points. Tobaccos and mis
cellaneous issues, including chain
?tores and merchandising stocks, also
were higher.
Utilities were featured by Montana
Power, which rose 3V4 points. Rails
showed moderate improvement, es
pecially Lehigh Valley, New York
Chicago and St. Louis, and Louisville
and Nashville, but Chicago Northwest
ern common and preferred were
Of the better known specialties,
rubbers showed further depression.
The closing was strong. Bales ap
'.roJ, 'ted 350,000 shares. Bonds, in
cluding liberty Issues, were dull, but'
mainly higher.
Conference Xi Topic,
Th? summoning of the general Eu
ropean economic conference to meet
Genoa, in March, was everywhere
referred to in Wall street this morn
ing as an event of very great poten
tial importance. It was not, however,
an influence in the immediate situa
tion, because what such a gathering
will accomplish toward the recon
struction of Europe at the moment is
mere conjecture. When the confer
ence actually assembles the markets
are apt to become more responsive.
But the present view is that It is too
far ofT as yet to enter into calcula
Even In the foreign exchange mar
ket, which would naturally be most
sensitive to any development prom
ising help to Europe's economic con
ditions. there was no fresh move to
day. Sterling was only a trifle high
er, and such advance as occurred in
continental rates was equally smalt.
The bond market was still Influenced
by yesterday's drop In money rates,
with further advances in liberty
bonds and in representative corporate
Balancing of Contract*.
The two-hour session on the stock
exchange indicated little more than
a balancing of traders' oontracts. Pro
fessionals who had been selling the
market short early in the week were
inclined to cover, and this led to an
advance of a point or so early in the
day in some of the equipments, oils
and motor shares.
Later on, when the demand from
the short Interest had been satisfied,
prices eased off. but the rally was re
sumed in the closing dealings. There
were a number of specialty moves at
tributed to pool 'operations. On the
other hand, steel and coppers did
nothing and the rails were neglected,
with a few exceptions, where special
selling was in progress.
This liquidation was again notice
able in the Eries, but the main inci
dent was a sharp break in Chicago
and Northwestern on uncommonly
heavy transactions. The decline In
this stock was a belated recognition
of the deficit shown in the November
earning statement.
A. B. Smith, general passenger agent
of the New Haven road, has resigned.
He will be succeeded by F. C. Coley,
Money to Loan
Secured by first deed of truat on real estate.
Prevailing interest and commission.
Joseph I. Weller ?AT.?i!
In Any Sum
Our connections locally and
In other cities enable us to fur
nish money in any amount for
Washington Real Estate En
Stone & Fairfax
1342 If. Y. An. Mats 2*24
Stocks, Bonds
821 15th St.
Main 3160?8S67
No Lot Too Large
No Lot Too Small
Direct Private Wire to
Ogden D. Budd A Co.
(Established 1885)
New York City
Full Service
First Trusts
6/4% Interest
Glover & Flather,
,737 Fifteenth Street
'?> ,?la
If you have money to in
vest we can safely place it on
gilt-edge first D. C. Mort
gages. Our record of 30 years
insures your protection. Cour
teous treatment.
Percy H. Russell Co.
S.W. Cor. 15th & "KM Sts.
Ne w\brk Stock Exchange
111 Broadfe-ay; New'Ybrk
Washington Office
Telephone Main 1603
, ky j __
This Is Important to You
TION, of which Mr. H. Rozier Dulany is president, has been in
successful operation for four months. It is meeting in a practical
way the building and housing needs of the District of Columbia,
and is making very attractive earnings on the money employed
in its operations.
Washington has heretofore been without an established discount
banking institution to standardize discounts and provide a ready
agency for dealing in real estate securities based upon second as
well as first trust mortgages.
The National Mortgage and Investment Corporation supplements
the splendid general banking facilities of Washington. Other
business as well as that of the builders is benefited by the Release of
money tied up and dormant in second trust notes. Institutions
doing a general banking business will be benefited by a stimulation
of business through building operations, which multiply and give
activity to bank accounts.
Investments in the National Mortgage and Investment Corpora
tion are safe and profitable. The character of the management
insures continued and growing success, with steady increase in
value of the investment, which accrues to the benefit of the stock
holders all alike.
A portion of the Stock of the National Mortgage and Investment
Corporation is being offered at the same price paid by the officers
and directors. Subscriptions are received by the Hughes Finance
Corporation, 1418 I Street Northwest Phones, Main 833 and 854.
It Washington. in the District of Columbia. at
the close of business December 81, 1921.
1. a Loans and dis
counts, in
eluding redis
counts (except
those shown In
b and c) .$7.948,867.94
Tottl low. ..IT.WMT.M )T
2. Overdrafts, unsecured, 924.98 24.92
4. U. 8. government securities
owned M2.800.00
6. Other bonds, stocks, securt
ties, etc 1.299,699.lt
6. Banking house, $1,209,000;
furniture and fixtures, Mm
9105.421.47 1,814.411.47
10. Cash in vault and smount dus M
from national banks 409,097.09
11. Amount due from state banka,
bankers and trust compan
ies In the United States
(other than Included In
Items 8, 0 or 10) 666,060.18
Total of items 9. 10, 11. 12
and 13 $1,075,108.23
14. Checks on banka located out
side of city or town of re
porting bank and other cash
Items 189,224.67
Total $12,299,689.89
17. Cspltsl stock paid in $1,000,000.00
18. Surplus fund 1,000,000.00
19. Undivided profits $874,298.60
a Reserved for in
terest and taxes
sccrued 40,000.00
22. Amount due to state banka.
bankers and truat compan
ies in the United Ststes snd
foreign countries (other
thsn included in Items
21 ut 22) 6 139 57
23. Certified checka outatanding 8.153.50
Total of item* 20. 21. 22. 23
and 24 $9,298.07
Demand deposita (other than
bank deposits). (Deposits
payable within 80 daya):
25. Individual depoelts subject to
check 7,289.876.02
29. Dividends unpaid 197.50
30. Other demand depoalta (aav
logs) 1,890,027.32
Total demand deposits (other
than bank depoalta), lteina
25, 26, 27. 28, 29 and
30 $9,180,100.84
Time depoalta (payable after
30 days, or aubject to 30
I daya' or more notice) and
poatal savings:
31. Certiflcatea af depoait (oth*r
than for money borrowed).. 195,945.88
Total of time depoaits, items
31 32, 83 and 34.$195,945.88
Total $12,299,638.39
Oiatrict of Columbia. City of Washington, as.:
I, CHA8. C. LAMBOltN, treasurer of the
above-named bank, do solemnly swear that tue
above statement is true to the best of my
knov ledge and belief.
CHAS. C. LAMBOBN. Treasurer.
Subscribed and worn to before me this 5th
dsy of January, 1922. _
Notary Public.
W. V. COX.
Of the
At Washington, in the District of Columbis.
st the close of buaineaa December 31. 1921.
1. a Loans and dis
counts, including
rediscount* (except
those abown in b
and c) $99,119.82
Total loans $99,119.82
5. Other bonds, atocka, securi
ties, etc 19.890.6i
6. Furniture and flxturea, $8,348.95 3,348.95
7. Real estate owned other than
banking houae 160.791.13
10. Caah In vault and amount due
from national banks 36,711.08
11. Amount due from state banks.
bankers and trust companies
in the United States (other
than included In items 8, 9
or 10) 3.043.88
Total of items 9. 10. 11. 12
and 13 $41,734.96
14. Checks on banks located oatside
of city ex town of reporting
bank and other caab items. 706.19
16. Other assets (expense) 4,115.00
Total $329,726/T2
17. Capital stock paid in $79,654.89
18. Surplus fund 15.462.60
19. Undivided profits $6,143.51
c Less current ex
penses. interest snd
tsxes paid 10.258.51
23. Certified checks outstanding... 60.35
24. Cashier's check* on own bank
outstsnding 132.00
TotsI of items 20. 21, 22. 23
snd 24 $192.35
Demsnd deposits (other thaii
bank deposits). (Deposits
payable within 30 days):
25. Individual deposits subject to
check 74.U58.33
Tim* deposits (payable after 30
days, or subject to 30 days'
or mere notice) and postal
31. Certificates of depoait (other
than for money borrowed).... 11.468.00
33. Other time deposits 6o.b96.05
Total of time deposits, items
31. 32. 33 snd 84.. $72,864.05
43. Liabilities other than those
above stated 88,000.00
Total $829,726.72
District of Columbia. City of Washington, ss.:
I. ROBERT C. SHAW, cashier of the above
named bank, do solemnly swear thst the above
statement is true to the best of my knowl
edge and belief.
ROBERT C. SHAW. Caahler.
Subscribed and sworn to before me this 5th
day of January, 1922.
(Seal.) A. X. MITCHELL.
Notary Public.
Edward Volgt, Jr., A. B. Clarke.
Geo. E. Hebbard. Wm. J. Armstrong.
W. G. Cunningham. James B. Flynn.
John W. Farran, Richard B. Owen.
M. M. Doyle. W. C. Small wood.
Frank T. Parsons. Grant S. Barnhart.
H. D. Ormsby. Wm. H. Benjamin,
Claude G. Otwell, T. A. Cantwell.
H. L. Cranford, Directora.
Bernard F. Garvey,
5ZJlew Iwtitw
Other Moneys?and Yours
You meet .PieceS of Eight in "Treasure Island,"
in the tales of the buccaneers, in the old histories
of the Spanish Main. Lives were cheap in those
days and money s catce. The JPiects of Eight
were hoarded, in strong boxes?you remember, thnt
if: you've read your pirate classics.
THE protection of a strong box today does
not necessarily mean safety, and surely
offers no return. Real safety for your
money-lies in sound investment, and preeminent
among such investments is our First Mortgage
Notes on Washington property. It will be worth
your while to ask about our notes before you de
cide where to invest your money.
727 V)* Street WW!
>i .* i:. *r.?~
Banking Trust & Mortgage Co.
? Banking
Beginning TODAY
8:30 AM.
5:30 P.M.
1409 H St N.W.
Phone Main 3800
Of the
At Washington. in the District of Columbia, at the close of business or.
December SI, 1921.
1. a Loans and discounts, Including rediscounts
(except those shown in b and c) $13,-49,
Total loans $18,249,2;>7.35 _ t
$13,249.257.3T, |
2. Overdrafts, secured. $1,393.85; unsecured, $5,159.26 ?,5i".,ll j
4. U. 8. government securltlea owned:
a Deposited to secure circulation (0. S. bonds,
par value. $100,000) ???? _ ???'???"??
b All other United States government securities ?,4a4,.4a.ll
Tota, 5.652.245.11 '
6. Other bonds, stocks, securities, etc i
?. Banking house. $471,0*4.44 ?. J-li ir J -i?
8. Lawful reserve with federal reserve bank l,8l8,So4..o
?. Items with federal reserve bank in process of collection (not
available as reserve) ,
10. Cash In vault and amount due from national banks. . .. ...
11. Amount due from state banks, bankers and trust companies in tne
United States (other than Included in Items 8, ? or 10)..... 79,10j.9.
12. Exchanges for clearing house ?ju.4J?-.vu
13. Checks on other banks in the same city or town as report
ing bank /other than item 12) ?????? 308.62fc.fl
Total of items 9, 10, 11. 12 and 13 $2,58...6-8.29
14. Cheeks on banks located outside of city or town of reporting
bank and other cash items 6j.60i.S0
15. Redemption fund with U. S. treasurer and due from U. S. VI
treasurer 5.250.0*
16. Other assets: .
a Coupons in process of collection -84,008.M 1
b Liberty loan coupons a?*''1? !
c Due from foreign banks and bankers 6..094.32
Total $27,366,421-5
17. Capital stock paid in *?.???????????
18. Surplus fund ..OOO.OOO.M'
19. Undivided profits $489,482.89
b Reserved for taxes., 97.793.74
20. Circulating notes outstanding ISS'S??*??"
21. Amount due to federal reserve bank (deferred credits) 227,634.*
22. Amount due to national banks 1,004,841.11?#
23. Amount due to state banks, bankers and trust companies in
the United States and foreign countries (other than in
cluded in iteniB 21 or 22) 1,S20,311.? i
24. Certified checks outstanding 62.81
25. Cashier's checks on own bank outstanding 52.699.?~
Total of items 21. 22. 23. 24 and 25 $3,167,822 S4
Demand deposits (other than bank deposits) subject to re
serve (deposits payable within 30 days):
26. Individual deposits subject to check 16,796.56
27. Certificates of deposit due in less than thirty days (Other _ ^ ,
than for money borrowed) 45.314.8,
30. Dividends unpaid 65.fl#'
31. Other demand deposits I6S-.W
Total of demand deposits (other than bank
deposits) subject to reserve, items 26, 27, 28.
29, 30 and 31 $13,842,304.56
Time deposits subject to reserve (payable after 30 days, or
subject to 30 days' or more notice, and postal savings):
32. Certificates of deposit (other than for money borrowed) 179.474.IJ2
34. Other time deposits 1.426.44**
35. Postal savings deposits. ? 22.784.S"
Total of time deposits subject to reserve.
items 32. 33, 34 and 35 $1,628,703.43 '
36. United States deposits (other than postal savings), including
war loan deposit account and deposits of United States
disbursing officers 998.07i.0S
40. Bills payable with federal reserve bank 2,000,000.00
42. Letters of credit and travelers' checks sold for cash and
outstanding ? ? v^, -u. ?. 19.060J
45. Liabilities other than those above statpK
a Clearing house due bills ?.. 7.' 9t4.fH.06
b Payments account liberty loan bonds and
victory notes 8,2(1.94
c Income tajt withheld < 138.20
d'Alien property custodian 122.89
Total $27,366,411.63
District of Columbia, city of Washington, ss.:
1. R. V. FLEMING, cashier of the above-named bank, do solemnly swear
that the above statement is true to the best of my knowledge and belief.
R. V. FLEMING. Cashier. ,
Subscribed and sworn to before me this 6th day of January. 1922. - . ,
(Seal.) WM H. DORSET, Notary Public, D. C.
Correct?Attest: ? >? ?f
FRANK J. HOGAN. Directors.
Of the
At Washington, in the District of Columbia, at the close of business on
December 31, 1921.
1. a Loans and discounts, including rediscounts
(except those shown in b and c) $6,351,640.87
b Acceptances of other banks discounted 100.000.00 _
??????? $6,451,640
2. Overdrafts, secured, $53.04; unsecured. $2.797.24 2.850 2*.
4. U. S. government securities owned:
a Deposited to secure circulation (U. S. bonds,
par value) $800,000.00
b All other United States government securities 525,481.08
Total 1.32J.4?1.
5. Other bonds, stocks, securities, etc
6. Banking house, furniture and fixtures 813.07?.?.0,
8. Lawful reserve with federal reserve bank 942.3.3.28
9. Items with federal reserve bank In process of collection (not
available as reserve) 661,264.24)
10. Cash in vault and amount due from national banks 1.883.4a0.C
11 Amount due from state banks, bankers and trust companies hi
the United States (other than Included in items 8. 9 or 10). 443.76$^?
12. Exchanges for clearing house 146.772.2$
13. Checks on other banks in the same city or town as reporting
bank (other than item 12) 6..41,.70
Total of items 9, 10. 11. 12 and 13.... $3.203,67.1.21
14. Checks on banks located outside of city or town of reporting
bank and other cash items 10.919.
15. Redemption fund with U. S. treasurer and due from U. S.
16. Other assets 4.99-11
ToUl $13,499,691 67
17. Capital stock paid in *!22'222'2!1 >
18. Surplus fund iiiiViVis t40 000 #0;
19. Undivided profits ?
a Reserved for interest and taxes accrued 24.060.48
33 <.618...It
20. Circulating: notes outstanding IJHSrSjTl.
21. Amount due to lederal reserve bank (deferred credits) 106f?>20v5Cjr
22. Amount due to national banks -98.?6%.3?W
23. Amount due to state banks, bankers and trust companies in
the United States and foreign countries (other than in
cluded in Items 21 or 23) 228.??0.^
24. Certified cheoks outstanding
25. Cashier's cheoks on- own bank outstanding ?.. 4.09..43
Total of items 21, 22, 23. 24 and 25 $716,386.92
Demand deposits (other than bank deposits) subject to re
serve (deposits payable within 30 days): .ft
26. Individual deposits subject tc check 8.457,1-8.61
27. Certificates of deposit due In less than 30 days (other than
for money borrowed) 5
30. Dividends unpaid 2:7"!.
31. other demand deposits -0.-41..,.
Total of demand deposits (other than bank
deposits) subject to reserve, items 26, 27, 30 .
a?d 31 $$.483,023.01 --5*
Time deposits subject to reserve (payable after 80 days, or
subject to 30 days' -or more notice, and postal savings): . ,
32. Certificates of deposit (other 'Aan for money borrowed). 7.is2.;(kj
34. Other time deposits 1.771,11*93
35. Postal savings deposits 25.117.82,.
Total of time deposits subject to reserve, ,' '
Items $2, 34 and 35 $1,804,607.26
86. United States deposits <other than postal sevlngs), Including ^
war loan deposit account and deposits of United States dls- . ?
bur-sing officers f.ljl-J#
46. Liabilities other than those above stated 2a.636 36
Total / . $11,415,691 .*7
District of Columbia, city of Washington, as.:
I, C. F. JACOBSKN, cashier of the above-named bank, do solemnly swtitf
that the above statement is true to the beet^of^m^kngrl^ge^and^belief^
Subscribed and sworn lo before me this 6th day of January. 1122.
(Seal?) ROBERT E. BRIGGS, Notary Public.
i *i o? tjjtav HERBERT T. SHANNON,
n r P. JOHNSONS, - Directors.

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