Evening star. [volume], October 10, 1922, Page 21, Image 21

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
WARDMAN PARK
80NDSARE FIRM
Listed on Local Exchange.
101 Bid. 102 Asked?On
the New Bonds.
BY I. A.
"Wardman Park Hotel fi per rent
bonds, with 2 per rent of the income
tax payable at the source and the entire
District of Columbia intangible
tax of one-half of 1 per cent in addition.
if requested by the holders of {
the securities, were listed on the lo- j
cai stock exchange yesterday after
noon and offered for trading this j
morning.
There were no transactions, hut the ;
bid price was 101 and the asking figure
102. showing a handsome profit
f??r those who placed orders for the
bonds, in sight.
j ne rest of the local stock market I
was inconsequential, trading: drop- j
1'iner down to an almost nominal I
ha sis. !
Sales were made of Gas $it 95l*?. tfie '
TU notes of the same cofppany sol?l|
for hanston was firm at 80V-j. j
Money was held on 'change at 6 and j
5 per cent bid.
Heavy Oversubscription. |
Kstimates made this morning favor I
oversubscription for the new 4V* peri
cent bond issue, from four to live
fold.
Customers of banks are coming: for- j
ward with numerous orders, while \
banks and corporations are sending; 1
orders for much larger amounts of j
bonds than they actually desire for j
the reason that they understand al- I
lotments will he scaled heavily. j
Reports from all over the country j
indicate that the issue is meetingwith
great favor.
Ten hanks in New York citv are re- !
ported as offering: to take ?250,000,- ,
000. or 50 per cent of the offering.
Tt may he that Secretary Mellon j
may deviate from his rule of taking j
but a small amount of the oversub- t
scription. at this time and perhaps }
issue nearly a billion bonds. !
Praise the Issue.
, The Wall Street Journal, financial j
authority, has this to say of the bond I
and conditions affecting it:
" The difference between a 4 Vi per j
cent rate and a 1 per cent rate which
the Secretary of the Treasury could j
have chosen for the new government j
issue might have been the difference {
between success and failure in the j
object which he sought to accom- J
plish. Above all, it was desirable to i
secure as large a response as pos- i
s hie from holders of 4-% p?*r cent ;
victory notes to convert into the new J
issue, and no finance minister can j
fliK'.'j IU tut m nis re- j
funding operations. There is no oc- j
casion now to employ McAdoo's tac- j
tics to ft?rce a people to take an un- !
\l>usiness-liKe i < n<!. |
"Here is an opportunity for victory j
noteholders to relinquish their notes. I
which they must. perforce, do. at
most, in a few months, for a longterm
bond bearing a rate of interest
equal to tie- liberty bowls issuer: at the
height of the war. That application
from this source, as well as from
new subscribers, will be spontaneous
and extensive under the circum- j
stances goes without saying.
"Although there are to be other
government issues in the next fewmonths
the Secretary of the Treasury
is already seeing daylight on his refunding
operations. Eighteen months
ago he was confronted with a $24.fto.ono.
1ftft gross debt, of which over
$7.">00.000.110 matured within two j
_\ chi>. nc nas vvnurcn me pross
debt since then by $1,200,000,000 and
the early maturing: debt by about
$ J.ooa.ooa.ooO, through retirements or
refunding. Retirements of certain
certificates of indebtedness within the
next few months will leave outstandi
ing something: like $1,000,000,000,
which will constitute a manageable
floating debt and which may continue
desirable with the income and
profits tax payments as large as they
are."
Fedora I - A morion n.
Various accounting methods are
being considered by special committees
of the employes of the Federal
and American National banks, also
different forms in use in both hanks
and other matters of detail in connection
with accounting and the routine
work of the banks.
This work is being carried on steadily.
and by the time the merger is an
accomplished fact, the best of both
institutions will have crvstalized and i
will be adopted by the merged hank, j
One of the subjects that will be j,
discussed at tomorrow's meeting of
the officers and directors of both institutions
will probably be the filling of
the vacant cashiership of the FederalAmerican.
vacated by the resignation
of F. G. Stryker.
Rumors suggest the possible selection
of Charles P. Boy or. assistant
cashier of the Federal National Bank.
and onf of the most popular of the
younger banking officials.
September Trade in Bonds.
In the month of September miscellaneous
bonds on the New York Stock .
Exchange sold 10 the extent of $203.184,000;
liberty issues sold $88,909,000, 1
a total of $292,093,000. The daily aver- ;
age of miscellaneous bonds was $8.- ,
127.000. and $3,556,360 liberty bonds.
Sales are larger in omparison with
all years but 1921. when the record, ]
$326,942, was made. 1
n?inv ti tnh't'Te '
BALTIMORE. October 10 (Special). 1
?Poultry?Alive. spring chickens, t
pound, 24a26; leghorns, 20a23; old <
hens. 18a26; leghorns, 18a20; old
roosters. 15: ducks. 20a23: small and 1
?>oor. ITalS; turkeys, young. 30; old, y
32: pigeons, pair, 20a25; guinea-fowls, ;
each, 40a05. ;
Eggs (loss off) ? Native and nearby, <
firsts, dozen. 40; southern. 36a38.
Butter?Creamery, fancy. pound, j
451; ; prints. 45a4>: nearby, creamery,
*5a40; ladles. 29a30; rolls. 26a28; store
packed. 26; dairy prints, 26a2S; process
butter, 33a34.
CHICAGO LIVE STOCK. MARKET. s
CHICAGO. October 10.?Cattle?Re- .
ceipts, 12.000 head;*moderately active; 1
generally steady on all classes; bulls, .
steady to strong; early top matured <
native steers. 12.75; bulk natives of 1
value to sell at 2.50a 11.23; supply of '
np<5fprnv liberal, few sold earlvr d#?- !
mand for light stock steers fairly ac- (
tive at Monday's advance; bulk, desirable
bologna bulls, 4.15a4.25; few
heavies at 4.35 and above; packers
bidding around 10.00 for vealers; outsiders
making selection of 10.50all.00;
bulk, butcher she stock. 4.25a7.00.
Hogs?Receipts, 23.000 head; market
very slow, around steady; big
% packers bidding lower on lighter
weight; packing sows, strong: bulk.
ISO to 210 pound averages, 9.75a9.95;
top, 10.10 one load; good choice 250 to
300 pound butchers mostly. 9.60a9.95;
bulk, packing sows, 7.75a8.25; desir- <
able pigs, 8.75a9.00; heavy, 8.75a9.95; '
medium. 9.75a9.95; light. 9.50a9.90;
light light, 9.10a9.60; packing sows,
smooth, 7.80a8.40; packing sows, rough,
7.25a7.90; killing pigs, 8.50a9.00.
Shoerv R#?eeints 21 hMfi- fat <
westerns opening active; steady to
strong; six cars Washington lambs.
14.00, with 350 out; other strings good
Montana and Utah lambs. 14.00; native
lambs, steady to 25 higher;
early top. 14.00 to city butchers; feeder
inquiry good; no early sales; two
doubles. 100-pound Xeveda yearling
wethers. 10.25, with 100 out to fillers;
sheep steady; heavy, fat ewes, 3.50a
4.00; lighter weight upward to 6.50.
DIVIDENDS.
Stork of Fayrecord
able.
Appalachian Power Co 1st
pf. q, $1.75 Oct. 14 Not. 1
General Cigar Co.. q. $1.50..Oct. 21 Nov. 1
, Gen. Cigar Co., pf, q. $1.73.Nov. 24 Dec. 1
Gen. Cigar deb pf, q. $1.73..Dec. 23 Jan. 1
Mhbs. Gas Co.. q. $1.25 Oct. 14 Nov. 1
Jlotor Products Corp., q,
$1.25 ..jfaaOrtr^Uyof^-a
FURNITURE ANE
SHOW EXPANS
Survey Indicates Str
at Any Time i
Homes a
RV .1 r? nnvf ii1
Special Dispatch to The Star.
NEW YORK. October 10.?All lines
of furniture are subject to a stronger
demand than at any time in recent j
years. Manufacturers and jobbers
scattered throughout the country report
that their operations showed an
increase of fully 60 per cent over
those of a year ago. The trend in
furniture and house furnishings is
particularly significant because these
lines show as plainly as any the influence
of the factors which are shaping
the movement in the whole business
and commercial life of the country
at the present time.
One of the chief influences in these
as in other lines, is the tremendous
volume of building completed and under
way. Over $1,000,000,000 worth of
new homes and apartments have been
finished. The majority of these are
being equipped in part at least with
new furniture and household utensils.
Hundreds of hotels have been
constructed, especially in the smaller
towns and this has necessitated large
outlay for furniture, rugs, carpets and
hotel equipment.
Renewal of Office Outfit*.
j ne expulsion ox commerce anu increase
of industrial production has
been reflected in the opening of new
offices and renewal of equipment in
offices which had held expenditures to
a minimum for over two years.
Prices have been fairly steady, but
there have been moderate increases
due to causes which have affected
practically all lines of manufacture.
These include the tariff, the increased
price i*or lumber and glass, and higher
wage scales for both skilled artisans
and cabinetmakers and unskilled
labor.
Materials entering into the manufacture
of metal furniture also have
advanced correspondingly.
\ew Tariff Plaint.
Manufacturers at tland Rapids, a
big furniture center, are complaining
over the effects of the new tariff on
glass. The higher glass schedules,
they state, are interfering with the
plans for expanding medium-grade
furniture sales through inaintainence
of low prices. The Industry as u
whole is near capacity, but. like other
industries, is hampered at every turn
in making deliveries by the shortage
of furniture cars and lack of transportation
facilities.
Hardwood lumber prices have experienced
a decided boost upward
within the last week and there is indication
that furniture prices will
continue to increase gradually for
some time to come. No slackening in
demand is indicated in view of the
tremendous building programs in
preparation for 1923.
Floor Covering* Advanced.
Other household furnishings are
following similar lines. The leading
carpet and rug manufacturers of the
country have named their prices for
spring, showing increases of at least
5 per cent, although carpet wools are
free of duty under the Fordney-McCumber
tariff law. The shortage of
wools of these grades, however, has
been reflected in price advances.
These prices are guaranteed against
any recessions until Mav 1 in most
instances, but are subject to advances.
Linoleums so far have shown the;
smallest price changes, although jobbers'
discounts were reduced in some j
cases.
Makers of pottery and kitchen warp !
in general are working their plants J
steadily toward capacity output. The j
aluminum utensil makers of Michigan
and the middle west are especially well
booked. Earthenware manufacturers'
still are struggling over wage adjustments.
Fuel Situation Easing.
The winter fuel situation is easing j
day by day. aided materially by the ;
prevailing high temperatures. Shipments,
however, are still far below mine j
output. Steel output also is well in ex- |
cess of shipments and further exnan- i
sion of this basic industry only awaits I
transportation betterments. The trend !
of orders in Iron and steel is indicated
by the announcement todav that the
pipe line of the Sinclair Oil Company
from the Salt Creek field of Wyoming:
to Kansas will require 600 miles of 1
eight-inch pipe and that this has been
ordered for early delivery.
In the northwest killing: frosts have
aggravated the situation caused by
freight car shortage. Millions of bushels
of potatoes are piled on the ground
there awaiting transportation to warehouses
and markets.
Michigan Fruit Season
Reported Disappointing
BY PHIL S. HANIVA.
Special Dispatch to The Star.
DETROIT. October 10.?The fruit
season in Michigan, which has just
iiuocu, nunc nit laigcai jii many
years, has been a very disappointing:
one to growers.
Thousands of bushels of apples,
peaches and plums remained unpicked,
and more thousands of bushels
have rotted on the ground. One
dealer estimated today that not more
than one-third of the marketable
fruit left the orchards. The fault,
growers claim, lies largely in the lack
}f canning and storage facilities.
A concerted movebent to remedy
this was begun to/lay. A national advertising
campaign to present the advantages
of Michigan fruit, planned
along the lines of the California
>range growers' efforts, may result.
Output and Shipments
Exceed Rail Facilities
BY H. B. LAUFMAX.
Special Dispatch to The Star.
PITTSBURGH. October 10?With
in adequate car supply business
ivould be booming In this territory.
Production and possible shipments
n every line are far in excess of I
shipping facilities. Rainfall over a
wide area may make it possible to increase
production in the industrial
plants of the district. The rivers became
so low that shipments over the
)hio have been impossible. "With that
channel open again, plants along its
panks will be able to resume shipments
by water and escape to some
extent the influence of the general car
shortage. t
Production here is at the highest
point it can reach until shipping conditions
improve. Steel prices are firm,
with a narrowing in the spread between
quotations of the major interest
and the independents.
Substantial Expansion
f\ _ ? - ^ -
seen m si. raui Area
BY EARL D. JENCKES.
Special Dispatch to The Star.
ST. PAUL, October 10.?The substantial
industrial expansion in the
lorthwest, predicted previously by
bankers and business men. has al eady
begun.
Preparations made up to today indicate
that lumbering and logging
bperations in this territory will be
more extensive than last year, in
spite of a scarcity of labor. Wages,
it is predicted by lumber men, will
be slightly higher. Mining of iron
bre soon will be curtailed, but underground
operations throughout the
winter months will be heavy. Makers
>f machinery, barness, millinery,
bandy and clothing plan heavy operations
and the trade in furs and fur
garments is brisk.
Hundreds of elevators are-blocked
with grain, which cannot be trans-1
sorted, fcecauaerof-xajr shortages
P
) FURNISHINGS
ION OF BUSINESS
onger Demand Than
in Years?New
Factor.
Commodity Reports
From Various Sections
Fruit.
SEATTLE. October 10 (Special).?
Approximately a thousand cars of
winter-keeping apples In Washington
have been destroyed by hailstorms,
and the new worm pest which is at
present a puzzle to fruit growers has
cut down the estimated output of
fruit in Washington from previous
figures. Nevertheless, the crop will
be large. Market conditions today
are such that growers are forming
selling pools and storage facilities
are in demand in the orchard district.
Rnllrond Equipment.
KANSAS CITY, October 10 (Special).
?The Missouri, Kansas and Texas
railroad has purchased new equipment
to cost over $2,000,000. The
new rolling stock includes engines,
box cars, refrigerator cars and passenger
coaches. Delivery is to be
completed by January.
Sugar.
PHILADELPHIA. October 10 (Spejcial).?The
Franklin Sugar Re1
fining Company has purchased the
i plant and equipment here of the
jSpreekles Sugar Refining Company for
! 9Z.5UU.000. The Franklin is a subj
sidiary of the American Sugar Rej
fining Company.
Dry Ooodn.
; ST. LOUIS, October 10 (Special).?
j Both wholesale and retail dry goods
lines are exceedingly active in this
I section today. Wholesale houses
j especially report large increases in
orders on their books.
Radio.
ATLANTA, October 10 (Special).?
j Department stores and electrical
houses reported today no slackening
in the demand for radio sets. The
Atlantic City Electric Company announced
today that more than 3.000
I radio permits had been issued in this
j city and that the demand from the
[ surrounding territories was almost as
i large.
I Machinery.
KANSAS CITY. October 10 (Special).
?The Electric Storage Battery Company
of Philadelphia has purchased
two and a half acres here, on which
an assembly plant will be erected at
once. This is the first branch of the
company outside of Philadelphia.
Lumber.
SEATTLE. October 10 (Special).?
The first thirty-nine weeks of this
year lumber production in Washington
and Oregon was 3.190.154.956 feet.
New business has amounted to 3.i
1-2.645.721 feet. Shipments have totaled
3.085.652,154 feet.
Textile*.
ATLANTA. October 10 (Special).?
The cotton mills in the southeast are
In splendid condition today and the
prospect is bright for the remainder
of the year. There has been a great
increase in the number of orders
on hand, although those orders are
not extremely large in size.
Automobile*.
DETROIT. October 10 (Special >.?
Automobile body rubbers are being
paid $1.15 an hour to start with in
the factories, here.
Leather.
CHICAGO, October 10 (Special).?
Mixed city and country calf skins are
offered at 15 to IS cents in this mar
i wiiii iu*r ueuer graaes
I ranging to 20 and 21 cents.
| Hat*.
NEW ORLEANS. October 10 <Special).?Sa'es
of men's hats in the last
I few weeks have been the best of the
year. Jobbers are receiving reorders
from retailers. Notice of advance in
prices is stimulating buying.
Oil.
! PHILADELPHIA, October 10 (Spej
cial).?Sinclair Consolidated Oil Corporation
has bought a 300-acre tract
fronting on the Delaware river and
I will erect a refinery at a cost of
?7.000,000. The plant will include
fifteen storage tanks. The work will
begin at once and employment be
given to 1,000 men.
Steel. ^
PITTSBURGH, October 10 (Speioial).?It
is estimated that more than
200.000 tons of steel products are
i piled up at mills today because of
the car shortage. Mills with limited
i storage space may be compelled to
! reduce operations. Orders for rails,
! joints, spikes and plates placed by
I the railroads since the new price on
rails was established aggregate
I about 1,500.000 tons.
| Groceries.
ST. LOUIS. October 10 (Special).?
Wholesale grocers in this section rennrt^rf
tndav that their htisin?s? Vine
increased and that prices for staple
articles have been advanced slightly.
Public buying is steadily advancing
toward normal.
Fodder.
KANSAS CITY. October 10 (Special).?Hay
is going up as the result
of the protracted dry weather of
August and September. Prairie hay
has advanced $1 a ton and is now
quoted at $13. Shipments are small.
Rubber.
YOUNGSTOWN, Ohio. October 10
(Special).?The tire department of
the Republic Rubber Company, idle
for two years, has begun production i
again on a part-time basis. The me- !
chanical goods and inner tube de- j
partments are working at capacity!
today, while the Canton plant is on !
full time.
Notes.
DETROIT. October 10 (Special).?
Judging from the number of great
lake freighters passing up and down
Detroit river the strike of lake seamen
is having but little effect. Vessel
owners say they are having no
trouble finding men to replace strikers.
The strike leaders report just
the opposite. Nearly all upbound vesvels
are laden with coal for the northwest.
SAN FRANCISCO, October 10 (Special).?Building
operations for the
first nine months of this year totaled
$35,548,683 for 6,233 new structures.
This record exceeds the expenditure
for any whole year since 1906.
ST. PAUU October 10 (Special).?
Building contracts awarded in Min- j
nesota and the Dakotas totaled over
$7,000,000 in the last month. This
was a decrease of 2 per cent compared
with July, but is in excess of
the figures for September of 1921.
(Copyright, 1822.)
UNITED STATES STEEL
TONNAGE IS INCREASED
NEW YORK, October 10.?Unfilled
orders of the United States Steel Corporation
on September 30 were announced
today as 6,691,607 tons, as
compared with 5,950,105 tons on Au
gust 21, an increase of 741,b?z tons.
RESTORE WAGE CRT.
SUNCOOK, N. H., October 10.?The
Suncook mills reopened in part today
alter being shut down since the beginning
of the textile strike last February.
The flfty-four hour week is
retained, but the company restored
the 20 per cent wage cut.
PARIS BORRSE FIRMER.
PARIS, October 10.?Prices were
firmer on Bourse today. Three per
cent rentes, 58 francs 85 centimes.
Exchange on London, 58 francs, 84
centimes.
Five per cent loan, 76 francs. 60
centimes. The dollar was quoted at
13 francs 28 H centimes. ~l
i
Washington Stock Exchange
SALES.
Washington Gas 5s?$3,000 at 95%.
Lanston Monotype?15 at 80%. I
AFTER CALL.
Washington Gas 7%a?$200 at 10G%.
BONDS.
Bid and Asked Prices. <
PUBLIC UTILITY. I
Bid. Aslted. ]
American TW. and Telga. 4s.... 92% 93%
American Tel. and Telga. 4%s.. 100%
Am. Tel. and Tel. ctl. tr. 5s.. 99% 1
Am. Tel. and Tel. conv. 6s 114% 115% 1
Anacostia and Potomac 5s 92
Anacostia and Potomac guar. 5s. 92
C. and P. Telephone 5s 98%
C. and P. Telephone of V'a. 5s. 93
Capital Traction R. R. 5s 98% 99%
City and Suburban 5? 8-1
Georgetown Gas 1st 5s 89 92
Metropolitan R. It. 5s .' 97
Potomac Electric 1st 5s 97
Potomac Electric cons, os 95%
Potomac Electric deb. 6s 100
Potomac Elec. Power g. in. 6a. 100 . *...
Pot. Elec. Po\v. g. m. & ref. 7s. 107 108%
Wash., Alex, and Mt. Ver. 5s.. 24
Wash., Halto. and An. 5s 80 82
Washington Gas 5s 95% 95%
Washington Gas 7%s 105 1<K>%
Washington Rwy. and Elec. 4s.. 74% 75%
Wash. Rv.y. and Elec. g. m. 6s. 99%
MISCELLANEOUS.
D. C. Paper Mfg. 6s 80
Kiggs Realty 5s (long) 93
Riggs Realty 5? (short) 98
W. M. Cold Storage 5s 96 98
Wardman Park Hotel 6s 101 102
STOCKS.
American Tel. and Telga *123Vj
American Tel. and Telga. Rts. 4 4Vi
Capital Traction 102 U 1 02%
Washington (las 57 Va 58 Vi
Norfolk and Waali. Steamboat. 100 205
Wash. Kwy. ami Flee. coin.... 54*% 55'/ ?
Wash. Ruy. and Elec. pfd.... 77'A 78'/k
Terminal Taxi com 75
Terminal Taxi pfd 8B'i
NATIONAL HANK.
American 185
Capital 105 _210
Columbia 210 230
Commercial 150 100
District 108
Farmers and Mechanics* 225
Federal 105
Liberty 132
Lincoln 103
National Metropolitan *230 250
Riggs *511
Second 148 l?5
Washington 100 200 |
TRl'ST COMPANY.
American Security and Trust.. 282
Continental Trust 94 Vi 100
National Saving and Trust.... 295
Union Trust *133 ;....
Washington I?an and Trust.... 280 300
SAVINGS HANK.
Commerce 170 I
East Washington 14
Security Savings and Com.... 210 230
Seventh Street ISO
U. S. Savings 250
Washington Mechanics' 27 ,
FIRE INSURANCE.
American 225
Corcoran 1(8 >
Firemen's 18
National Union 8
TITLE INSURANCE.
Columbia Title 5'a .. .
Real Estate Title HO
M ISC ELLA N EOIS.
Columbia Graphophone com.... 3
Columbia Graphoplione pfd... 12
Merchants' Trans, and Storage. 100 j
Mergenthaler Linotype 178 179 i
MDI Dutch MarL-rtt cmn ... 2 li. 5
Old Dutch Market pfd 8 ,
lainston Monotype WM4 Ml j
Security Storage 22'? '
Washington Market 38 (
Yellow Cab S%
Ex-dividend. !
SHORT-TERM SECURITIES.
(Qotationa furnished by Redmond A Co.) J
, Noon. ?
Rid. Offer. I
Aluminum Co. of Anier. 7s 191!.". K)4% UM% J
Aluminum Co. of Amer. 7s 1933. 10*>!,8 lOtpij !
American Cotton Oil ?is 19-4... 99 99% I
American Sugar <?s 1937 102% 1 <>31
American Tel. A Tel. ?s 1921.. K'1 % RM*y :
American Tel. A Tel. ?* 191'."... 117 lis ;
American Toliacco Co. 7s 1923.. 191*4 102% ;
Anaconda Copper (>s 1929 lol % ]?>i*
Anaconda Copper 7s 1929 1"3:% 103% ;
Anglo-American Oil 7'-s 192.V.. 193% 104
Armour & Co. 7s 1939 H4% 11)4% 1
Bethlehem Steel 7s 1923 IWj KMi% J
Canadian Pacific ?s 1924 100% 191 % i
v.. c. & St. L. Os 1929 192 102% I
Cons. (J.is of N. Y. 7s 1922.... l'H)% lOO'^ J
Copper Export "A" Ss 1924 102% 10274
Copper Export "A" Ss 192."? 103% 104 I
Cudahy Packing ('o. 7s 1923.... 101% 102 1
Du Pont 7%? 1931.- 108% K'8% |
Coodyear T. & R. .8s 1931 99% loo%
CJreat Northern 7s 1930 Ill7* 112% !
Gulf Oil Corpn. 7s 1933 1??3 % 194 %
Humble Oil 3% a 1932 99% 99% i
Kennecott Copper 7s 1939 KM'* loT? >
Kansas City Terminal ?s 1923.. 100% lol
Libby. McNeil A* I.ibby 7s 1931.. 1)?214 102-% '
M.. St. P. A S. S. M. ft'-, 1931 103%, 194% '
Morris A Co. 7%s 1930 liHl% 100% ?
I'enna. R. R. 7s 1939 110 110',
St. Paul Union Depot 5%s 1923. 1??1 10! % 1
Sears. Roebuck A Co. 7* 1923.. 101s* 101%
Southwestern Bel! 7s 192." 1(?2% 103
Tidewater Oil ?%s 1931 103 103% i
Union Tank Car 7s 1930 103% 193% i
C. S. Rubber Co. 7s 1923 1029k K'2% !
Vacuum Oil 7s 1930 108 108'* j ;
Westinghouse K. A M. 7s 1931. K'7% 108% j
The Woman's Club of New Orleans,
chartered in 1S83, is said to be the
oldest woman's club in the south. 1
k*7& FIRS
%. 4% M
|
I "The School of Ex
Many persons buy our F
they say, "they cannot longer
have had their lesson, in the
L1 have profited thereby.
In Phillips* First Mortgj
SHRINKS and interest at 7%
A In convenient denominatii
Ask for Descriptive Bookl
| William S
y First Mortgage
j| 1409 New York Ave.
MONEY 1
OX FIRST ?
A.T CURRENT RAT
9Luu{atf3fCi
4207 Gmaec*
National Mortgage
Corpoi
LWill Pu
First and Secon
Warehouse F
Make Constat
On a Fa
811 Vermont i
' t'
. -
OPEN JOINT MEETING.
Governors and Agents of Beserve
Banks in Conference.
Governors and federal reserve
igents of the twelve federal reserve
iistricts opened their annual joint
meeting with the Federal Reserve
Board here today.
Agricultural credit problems and
pouting questions concerning uniform
methods of procedure will be
Laken up for discussion.
FOREIGN EXCHANGE.
(Quotations furnished by W. B. Hibbs & Co.)
Selling checks?dollar valuea at close today:
Ijondon 4.42*4 Budapest ... .0004%
Paris 0752% Prague 0354
Brussels 0605 Warsaw 00110
Berlin 003% Copenhagen.. .2030
Home 0426 Christlanln... .1777
Madrid 1523 Stockholm 2655
Zurich 1873 Amsterdam.. ,3889
Athens 0273 Belgrade 0155
Vienna 000015 Montreal 1.00
By the Associated Press.
NEW YORK, October 10.?Foreign
exchange irregular. Great Britain?
Demand. 4.42*4; cables, 4.42%; sixtyday
bills on banks, 4.40%. France?
Demand. .0751%; cables, ,0752%. Italy
? Demand, .0426; cables, .0426%. Belgium?Demand,
.0695%; cables, .0696.
Germany?Demand. .003 5-16; cables,
003%. Holland?Demand, .3883; cables,
.3890. Norway ? Demand, .1778.
Sweden?Demand. ,.2650. Denmark?
Demand. .2025. Switzerland?Demafnd,
.1869. Spain?Demand. .1520. Greece
?Demand, .0270. Poland?Demand,
.001. Czechoslovakia?Demand. .0359.
Argentine?Demand, .3600. Brazil ?
Demand, .1162. Montreal. 1.00 1-32.
1,000 EMPLOYES INSURED.
The lives of 1.000 employes of National
Surety are insured for from
$500 to $5,000 with Metropolitan Life,
it is announced by William B. Joyce,
chairman of National Surety. The
insurance is carried under a group
contract and the amount in individual
cases varies with the length of
service of the employe.
BAIl SILVER QUOTATIONS.
NEW YORK, October 10.?Foreign
bar silver, 69%; Mexican dollars,
LONDON. October 10.?Bar silver.
35%d per ounce. Money. 1% per cent.
Discounting short bills, 2%a2% per
cent. Three months bills, 2 7-16a21/z
p<*r cent.
We Offer for Investment
Real Estate Notes
of responsible makers secured by 1st Ilea
on improved property. TO YIELD 6%
AND 7%.
PROMPT PAYMENT OF INTEREST
GUARANTEED.
Bank of Bethesda, Md.
Phones: Cleveland 1919 and Bethesda 81.
Vt^rom-CT-fFTOKJ/
\>" w?.p?y ;
Nggjy\o*?S
Federal
Land Bank
4l/2rc and 5r 'c
Bonds
Exempt from Federal,
State, Municipal
and local taxation.
Prices on application
The National City Company
W aabiiiKtnn?741 15?h St. \.W.
Telephone?Main 3176
t i
ORTGAGE i
LOANS ?!
I
;perience"
:irst Mortgages because, as $
afford to take risks." They ? ;
School of Experience and a
p
iges the principal NEVER .
arrives regularly when due. ?
* <
jns. I j
y
let MA"?It's free. $
. Phillips |
; Investments "
Main 4600 M
?S!*S8 S??*"v$
" ?
!
ro LOAN
IORTGAGES
\
"ES OF INTEREST
fCcujfn&i & (Ho.
ticu/' Ctharuie
A
i and Investment
?
*anon
rchase
d Trust Notes
Receipts and
iction Loans
ir Rasis
\venue ||
l' -- - i-v' J 1T? ' . ?t ',
TREASURY CERTIFICATES.
(Quotations furnished by Redmond & Co.)
, Noon. ? ,
Rate. Bid. Offer.
3%s December 15, 1922 100% 100 5-16
4 %s December 15, 1922 100 3-16 100 5-16
4%h March 15. 1928 100 6-32 100 9-82
3%? June 15, 1923 100 100%
8%s September 15. 1928 100 100 8-32
6%s June 15, 1924 102% 102%
5%s September 15, 1924.... 102% 102%
4%s March 15, 1925 100% 101
4%s December 15. 1925 100% 100%
4%s March 15, 1926 101% 101%
4%s September 15, 1926.... 100 100 1-16
BIO CHOP IN ARGENTINA.
BUENOS AIRES. October 9.?The
ministry of agriculture announces
that forecasts Indicate the coming
cereal crop will be 30 per cent larger
than last year. ,
|equitable||
Co-Operative Building !
Association
Organixfd 1879
4 2d YEAR COMPIiETED
Assets 94,498,629.00
Surplus 91.144,464.69
Resolve to
Save Systematically
Consider what others hare accomplished
who adopted our Barings plan
and remember you can accomplish as
much if you persevere.
Subscriptions for the
83d Issue of Stock
Being: Received
Shares, $2.50 Per Month
EQUITABLE BUILDING
915 F St. N.W.
JOHN JOY KDSON. President
FRANK P. REESIDE, Secy.
Whc
A
Being the presi
largest Natio
his community, ns
McMillan came
with a great many
sought advice in
selling of invest)
had ample opporti
serve how quick!
money slips throi
gers of the legat
times the loss res
ignorance, some)
carelessness and
from extravagant
in every case, the
hard work were d:
/ ,i . c? ...i c.
uiuac iui wnuac lk
one had worked an
self-denial.
Out boo
Swartze
53 Years W
\1
Bonds ai
Money R
1
tu
A:
dc
th
pa
ci
If
iss
y<
c>
vjuai anij ^
8
Main Office:
Guaranty Trust Comp
Building
149 Broadway, New Yor
Money to Loan
lecured by first deed of trust on real estate.
Prevailing interest and commission.
foseph I. We'ller
I LIBERTY BOND PRICES
for 9 lOO Bonds Today
First 4</?s flOO^I
Second 4Via 100.72
Third 414s. 99JI0
Fourth 4%m 101.12
Victory 4% a. 100.78
NO COMMISSIONS CHANGED.
Bonds Bought in All Denominations.
LIBERTY BOND EXCHANGE
?04 14th St. 1V.M.
Hours. 9 a.m. to 0 p.m. Main 2997.
H H/M
1V1U1
Available in An
First Mortg
Lowest Rates of Intel
Prompt Trj
Thomas J. Fisher
? 738 15th St
<
it Happenet
Ir. McMillan
ident of the He detern
nal Bank in that when I
iturally Mr. his fortune si
in contact t-aC{; for his
people who Accordingly,
buying and will to estabi
nents. He the income f,
unity to ob- , , ,
. . be paid to hi
y inherited , , >
, , r lived, and tr
lgh the fin- '
ee. Some- hls chlld, at h
;ulted from way both wei
dmes from ^hen one
sometimes a fund to exi
living. But of years, wii
benefits of payment of f
issipated by -ing that time
mefit some- repayment of
d practiced it is really po
for the future
klet, "Trust Funds You Can Trust," u
you how this cm be done
11, Rheem ?? Hens<
727 15th Street Northwest
Washington, D. C.
Without Loss to At
id
\ates
pHE current low rates for
" resulted in the redemptic
rity of many high-coupon b
re any of your investments cs
les the stipulated call price c
e current market price? Shou
ite possible redemption by s
langing now?
you will supply us with the
;ues you own, we shall be pi
>u our recommendations as i
xhanging such bonds.
Company of Is
?- - - .m ?. .. TfWT
11 rmeentn street, in. w.
Washington, D. G.
any
?0
i
RENTS
JL Let us manage
your Rental Property.
Over a Quarter
of a Century
Experience.
B. F, SAUL CO.
1412 Eye St. N.W.
Main 2100
MF.Y
iv Amount for
[age Loans
'est and Commission
uisactions
& Company, Inc.,
treet N.W.
i to
t
'
lined, therefore,
le passed away,
iiould be kept inwife
and child,
he re-drafted his
lish a trust fund,
om which should
is wife while she
le fund to go to
er death. In this
re protected,
can create such
st over a period
:h a guaranteed
ixed income dur:
and guaranteed
principal in full,
issible to provide
; with assurance.
nill tell
ey Co.
v Investor
?'I
money have
>n before maonds.
illable? How
rompare with
ild you anticielling
or exnames
of the
eased to give
to holding or
Jew York
>
Telephone: Main 5815
.... . '