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Evening star. [volume] (Washington, D.C.) 1854-1972, August 08, 1924, Image 15

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WHOLESALE BUYING
IMPROVED TODAY
Cooler Weather Helps Local
Markets—Vegetable and
Fruit Review.
Cooler weather caused a slight im
provement in early morning buying.
The increased trading was not heavy,
however, and dealers do not look for
much improvement until the return
of vacationists in the early Fall.
Receipts of poultry were fairly
large, more than enough to supply de
mands at prevailing prices. Decreased
prices the past week served to in
crease the demand and keep receipts
S moving.
Egg prices, gradually soaring, are
not expected to decrease to any ap
preciable extent this season. Contin
ued losses in candling keep prices up.
Meat prices have undergone no
change the past few days. The mar
ket continues slow and draggy, lamb
being the only meat in demand. Lamb
always is a good seller in hot weather.
Rutter and cheese prices were not
changed this morning.
Fruit and Vegetables.
The daily market report on fruits
and vegetables (compiled by the Mar
' ket News Service Bureau of Agricul
tural Economics) says;
Cantaloupes—Supplies light; demand
good; market strong; North Carolina.
Ridgeway sections, salmon tints,
standards. 36s and 455. best. 4.00a4.25;
poorer, 2.50a3.50; Virginia. Norfolk
section, Norfolk crates sweet as best,
4.00; other green meats, ordinary
quality, 2.25a2.50: Maryland, green
meats, standards, 365, 4.00. Peaches —
Supplies liberal: demand good; mar
ket steady; North Carolina, bushel
baskets. Elbertas. best, 2.50; belles,
best. 2.25; North Carolina and Georgia
6s. Belles and Elbertas. best, 2.00a2.2. r >;
some medium size. 1.r.0a1.75; Virginia,
bushel baskets. Carmans best. 1.25a
1.50; some small size, ordinary qual
ity. 50al.00; half bushel boxes. Car
mans, fine quality and condition, 1.25.
Potato Supplies Liberal.
Potatoes—Supplies liberal; demand
light; market fairly steady: Norfolk
section and North Carolina cloth-top
slat barrels. Irish Cobblers. U. S., No.
1, mostly 2.25; Virginia Eastern Shore
cloth-top stave barrels. Irish Gob
blers. U. S.. No. 1. branded, 2.50: New
Jersey. 150-pound sacks. Irish Cob
blers, U. S., No. 1, mostly 2.50.
Watermelons Supplie's moderate;
no car-lot sales reported.
Beets —Homegrown receipts light;
demand moderate; market firm; home
grow n. mostly 5.00 per hundred
bunches.
Cabbage—Supplies light; demand
limited: market firm: Virginia, bulk,
per ton. round type. 40.00.
Carrots—Homegrown receipts mod
erate; demand moderate; market
steady; homegrown, 3.00a4.00 per
hundred bunches.
< otn—-Homegrown receipts light:
demand moderate, market firmer;
Tiomcgrown. 5-dozen bags sugar corn.
1.75a2.00, few higher. Lettuce—Sup
plies light; demand moderate, market
steady; New York crates. Hig Bos
ton type, fair quality and condition,
l.t&al.SU; some poor condition, 25aTo.
l*mn(ofn Cheaper.
Peas—Supplies moderate; demand
moderate, market slightly weaker:
New York, bushel baskets. Tele
phones, 2.00a2.25. Sweet Potatoes —
Supplies light: demand 'imited.
market slightly weaker; North Caro
lina cloth-top stave barrels, yellow
varieties. No. 1, 8.0039,00. Onions—
Supplies light; demand moderate,
market steady: lowa, 100-pound
packs, yellow varieties, r. S. No. 1.
mostly 3.75. Tomatoes—Homegrown
receipts light: demand moderate,
market stronger: homegrown.
bushel hampers. No. 1. best. 1.75a
2.50. Apples—Supplies light; demand
moderate. market firm; Virginia,
bushel baskets, yellow’ transparent,
1.75a2.00; Kome small size. 1.25a1.5U.
DROP IS FORECAST
IN WHEATSUPPLY
Government Predicts 10 to
.13 Per Cent Less Produc
tion Than Last Year.
From 10 to 13 per cent less wheat
than last year will be produced this
year in countries of the Northern
Hemisphere, the Department of Agri
culture announced today on the basis
of telegraphic reports and other in
formation confirming earlier esti
mates to that effect. The production
this year in 15 important producing
countries, including the United States
and Canada, and exclusive of Russia
and China, is estimated at 2,092,-
976,000 bushels, compared with 2.272,-
#OI.OOO bushels last year.
Smaller Crop in Knrope.
4 “The cereal crop in Europe is less
than last year with important reduc
tions in countries consuming large
quantities of hard wheats similar to
our Durum varieties.” the Depart
ment of Agriculture stated. “The ab
sence of an exportable surplus In
North Africa further strengthens the
market position of these wheats and
th>- outlook from the point of view
of American producers is more favor
able than last year. The European
demand for wheat at prices prevail
ing last season resulted in imports
considerably larger than expectations
at the beginning of the season. The
elasticity of the demand in certain
Important importing countries is
likely to be felt at the present price
level and European imports this sea
son may not be greater than last year
in spite of smaller harvests.
Decrease In Prodnotion.
"In the Orient, which has taken con
siderable quantities of United States
and Canadian wheat and flour during
the past season, the prospects are for
i considerably decreased production of
wheat.
"Russian reports are as contradictory
is ever, ranging from crops larger than
ast year to danger of a severe famine
iffecting as many as 5,000,000 people,
aeports of crop shortages in important
egions appear to be well founded.
“Reports of a considerable increase
n the wheat acreage in Argentina are
•urrent, but no official estimate, Is
ivailable as yet.
Before Yon Invest—lnvestigate.
Ever notlve that the fellows who
ry to get rich quick are always
>roke?
STEEL INGOT OUTPUT
IN SHARP DECREASE
ly the Associated Press.
NEW YORK, August 8 —Production
if steel ingots in the United States
n July aggregated 1,869,416 tons,
ontrasted with 2,066,466 tons in June,
iccording to a compilation of the
American ,Iron and Steel Institute,
'he daily average output, amounting
o 71,901 tons for the 26 working days
f the month, was the smallest re
lorted for any month since Decem
ier, 1921, when the steel Industry
vas just beginning to recover from
he depression of that year.
For the first seven months of the
■ear total production was estimated
t 21,518,444. against 26,858.458 tons
n the corresponding period of 1923.
FINANCIAL’.
NEW YORK CURB MARKET
Received by Private Wire Direct to / Tbe Star (Mica
BY WILLIAM F. HEFFERXAJi,
NEW YORK, August B. —Oil shares
came to the front In today’s curb
market. They were under pressure
for a time but rallied later under
leadership of specialties which had
been objects of speculative attention
earlier in the week.
Red Bank fluctuated erratically, get
ting down almost two points under
further realizing sales, but later re
tracing more than the Initial loss.
South American issues and Stand
ard stocks were taken up. Dago Pe
troleum and Creole Syndicate were
the most active of the former group.
Snips in BONDS.
thousands. High. Low. Close.
31 Allied Parkers Bs.. (-3% 82 82
3 Alum 7s '25 IAS 1<« 108
1 Alum 7s new '33 .. l«7Vi 107% IWU
7Am (las A Klee 65. . 95 94% 05
1 Am lee 7s wi 107*4 107*4 107*4
5 Anaeonda 6s iai% 103% 103%
13 Anglo Am Oil 7%* 102% 102% 102%
13 Asso Sim Hdw 6%» 70 70 70
7 lieairerboard 8» .... 70*4 78% ”8%
2 Beth Steel 7a '35 .. 103% 103% 103%
3 Childs Co 6s 103% 103% 103%
3 Con Gas Bal 5%s E 101*4 101*4 101 Vt
11 Cons Gas Hal to 6» A 104% 104*4 104%
7 Cons Gas Bal 6%s U 108% 108% 108%
8 Cons Textiles 8s 80 79 % 79%
7 C PAB M 6%s Awl 94 03% 93%
6 Cudahy 5%s 87 87 87
0 Deere A Co 7%5... 103 103 103
12 Detroit Edison 65... 100% 100 100
18 Fisher Body 6» '28.. 102% 102*4 1«2V»
2 Gair. Bobt 7» 98% 98% 98%
5 Gen Asphalt 8s 104% 104% 104%
7 General Pet 6s 100% 100% 100%
5 Grand Trunk 6%s 108 108 108
10 Hood Uubber 75.... 101% 101% 101%
24 Intern Match 6%s wi 98% 98 98
52 Kennecott Cop 7».. 107 106% 106%
43 Leh Vnl It Kss wi. 99% 99% 99%
3 Libbr McN A L 7s. . 100% 1001. 100%
3 Manitoba Power 7s. 99% 99% 99%
a Motor Prod Co 65... 94 94 94
8 Morris ACo 7%»... 97% 97% 9i%
21 Nat Dial IT 7» A wi 90 89 90
7 Nat leather 8s 99% 99% 99%
4 New Or Pub Serv 5s 87% 87*4 87%
25 North Cen 5s Awl.. 102 102 102
7 Nor States Pow 6%s 97*4 ,wi % o*i%
3 Nor S P Minn 6%s C 100% 100% 100%
19 Park A Tllford 65.. 97 96 06%
1 Penn Power A I.t 5s 93 93 93
32 Public Ser N.l6s wl 9«>i Wl 96%
62 Public Serv N J 75.. 108% 108% 108%
39 Pure OH Co 6%s 95% 95*4 95%
3 Shawsheen 7s 104 104 104
67 Standard GA K 6%s 97% 97 97
3 S O N y 7h ’26 103% 103% 10.1%
1 S O N Y 7s ’27 106 106 106
1 8 O N Y 7s '28.... 106 106 106
I 1 S O N T 7s '29 106*4 106V4
I 1 s O N Y 7s '3l 107 107 107
2 S 0 X Y 6%k 108% 108% 108%
6 Sun OH 6s 100% 100*4 100%
133 Swift ACo 5s 95% H-W «•>
.-, T'nife.i Oil Prod 65.. 38 3 . % 37%
4 Vacuum Oil 7s .... 107% 107*4 10*%
1 26 Vtig Ky 5a A wi.. 96% 95% 96
3 Web Mills 6%s wi.. 103 102% 102%
FOREIGN' BONDS.
18 King of Netb 6s *54 Wl 98% 99
6Ks of N’way 6s Wl 97% 97% 97%
5 Rep of Peru 8s 99% 99% 99%
37 Buss Govt 5%a.... 20% 15 18%
22 Russian Gov ofs 5%s 19% 18% 18%
44 Russian Govt 6%5.. 20 16 18 s
53 Russ Gov 6%s n c 19% I*% 17%
15 Sol A Co 6s ’34 B 101 100% 101
17 Swiss Govt 5%5.... 101% 101 101%
25 Swiss Govt 5s 100% 100 % 100%
Sales STANDARD OIL ISSUES.
1100 Anglo Am Oil l’>% If. ,
lO Ruckeye P L 60%. 60% **%
100 Ciiese Mfg new wi.. 49% 49% 40%
2.1 Cmnlierlaud PL.. 145% 14aI,* 1 ,* 14a%
20 Euieku PL 96 95% 96
3d Gal Sig OH 57% •>*% •*•%
100 Hum Oil A R new.. 3a% 3a% 3a%
10 111 P L 133 133 133
260 Imp Oil of Can ... DM 108% 108%
20 Indiana P L 90% 00,4 90%
2400 Inti Pet Co Ltd 19% 19% .J?I** 1 **
60 Magnolia Pet 138 138 136
duo Prairie Oil A Gas.. 21a -If
SCO Penn Mei Fuel ... 34% 34 34%
101 Prairie P 1. 106% !(-*%
Washington Stock Exchange.
SALES.
Washington Gas as—l,ooo at 98%, 500 at
Washington Gas Gs *33 —$100 at 100%. S4OO
Capital Traction—lo at 94, aat 94. lat 94.
Washington Gas Light—lo at 49%. 10 at
49%
Real Estate Title Insurance Co.—l at 154.
AFTER CALL.
Washington Rwy. A Elec. g. * r. Cs '33—
SI,OOO at 98%. $2,000 at 08%. SI,OOO at 98%.
UNLISTED DEPARTMENT.
Those securities not listed under exchange rules.
RONDS.
Bjd. Asked.
Army and N«vy Club 5s J.}
CoNinos i'lub 4Vt* *•’
Commercial Club Ist 5a -A’*
Metropolitan Club 4Va*»
STOCKS.
Ana.-ostia Bank -■•••
Chapin-Sacka 7% pf •••• J"
Cbapin-Sacks 8% pf *, —J
Citizens’ Savings Bank H% 13
Connecticut IMa Co L’”
Christian Heurich Brewery 40 .«>
!>opartmental Hank ®
District Title Ins. Co. - 18
Franklin National Bank no
Miller Trai.i Control J”* * $
Munsev Trust Co 1®
North Gapitol Savings Hank. .. II
Northwest Savings Hank *3
Northeast Savings Hank
Park Savings Hank
Potomac Savings Bank .....
Raleigh Hotel C 0... s, <
Standard National Rank 6 10
Washington Title Ins Co 8
Washington Hase Hall C tub..... 3-
Woodridge A langdon Sav. Hk. 1
Money—Call loans, 5 and 6 per cent.
Bid and Asked Prices.
BONDS.
PUBLIC UTILITY.
Bid. Asked.
American Tel. A Tetga. 45.. .. 07% 08
American Tel, & Telga- «*•••■
Am. Tel. A Tel Ctl. tr. ua 101
Am. Tel. A Tel. conv. 6s 11.%
Anaco«tl« & IVomtc os.
Anseostia & Potomac guar. 05... 89
C. A P. Telephone 5» 99
C A P. Telephone of Va. ua 9u%
Capital Traction K. R u» 97% 98%
City and Suburban ss ; 8.% 83
Georgetown Gas lat_ us * 88
Metropolitan R. B. 55.. 100 .....
Potomac Electric Ist 5a 97% •
Potomac Klcc. eons. sa. 97 9.%
Potomac Electric deb. 6a 100%
Potomac Electric 6s 19.>3....... 103 •• •; •
Pot Elec. Pow. g. m. A ref. 7s. 106% 107%
Wash., Alex. A Mt. Ver. 5s 30
Wash., Alex. A Mt Ter ctf -8 .....
Wash.. Halt. A Annap. us 68 70
Washington Gas » 8 » 8 %
Washington Gas 6s. 101 101%
Wash Rwy. A Elec. 4s 74 74%
wSS: uwy. A Elec. 6s wi 98% 90
MISCELLANEOUS.
D. C. Paper 6V' 85
slg: g :::::
Rr k;:: «
Wardman Park Hotel 100 101
STOCKS.
PUBLIC UTILITY.
American Tel. A Telga 12jJ ‘iii/i
Capital Traction fin
Washington Gaa..^.^...-..•••• 40% “9
W«S: Bwy. A Elec, pfd 75% 75%
Terminal Taxi com 80
national bank.
090
Capital * ' •* * * * * *_245 800* *
Columbia
Commercial ************ iai iar**
IS™ *'M^h.nics v
i«b”
National Bank of Wa.hingtonV.i 200 '.l'.'.'.
TRUST COMPANY.
S :::::
W’aahlngton l Dtan A Treat.!.... 885 Ho'
SAYINGS BANK.
Commerce and Saving* 200 .
Seventh fVTf* 820
te M.chan>cs ; 81 K
FIRE INSURANCE.
.. 200
American 125
Corcoran jg
KaTtonai * Union •% ..i::
title insurance.
Colombia Title - -
Beal Eatato Title lw 180
MISCELLANEOUS.
MeKha'nt? r Xr*Bafer A Storage. 110 125
P i:: I! |% 15 |2
Old Dutch Market com 1% 4
Old Dutch Market pfd 8% I
Lanston Monotype TO% 80
Security Stonjge... 858 ITO
Washington Market 47 88
Yell#* Cab .....
THE EVENING STAR, WASHINGTON, D. FRIDAY, AUGUST 8, 1924.
large blocks changing hands at 1m- j
proved prices. Prairie Oil and Gas at
215 gained over 3 points, and Bolar
Refining moved up 2 to 185.
Phiiypa Petroleum new common
and the rights to subscribe to the
new stock were admitted after mid
day, the latter being dealt in around
55 and 60 cents. The new Issue of no
par stock Is to be offered to stock
holders at $32 a share, the proceeds
to be used to reimburse the treasury
and to pay off current indebtedness.
Further selling came into some of
the radio shares, Dubiller getting
down 3 points before support was
met. Ware lost more than a point,
while others were for the most part
fractionally lower.
30 Southern PL 94 93% 94
2100 S O Indiana 58% 57% 57%
500 R O Kansas new .. 38% 38 38
1000 8 O Kentucky 114% 114 114%
20 8 O Nebraska 244 244 244
1000 SONY new 40% 39% 39%
2000 Vacuum Oil new.. 64% 64 64
Sales INDEPENDENT OIL STOCKS,
in hundreds.
10 Big Indian Oil ... .08 .08 .08
6 Carih Synd 3% 3% 3%
% Cities Service 144 143% 144
1 Cities Service pfd. 74% 74% 74%
3 Clt Serv pfd B ... 14% 14% 14%
SI,OOO Cit Serv scrip 83 83 83
55 Creole Synd 7% 7% 7%
1 Gulf OH of Pa 59% 59% 59%
40 Hudson OH 02 .02 .02
87 Lago Pet 4% 4% 4%
1 Mount Prod 18% 18% 18%
267 Mutual OH rot cfs 11% 11 11%
1 New Eng Fuel OH. 41% 41% 41%
6 New Mex I-aml... 6 5% 5%
10 Northwest Oil 04 .04 .04
1 N Y OH 9 9 9
30 Ohio Ranger 08 .08 .08
10 Penn Beaver Oil .. .43 .43 .43
4 Pennock Oil 13% 13% 13%
7 Pierce Pet 7% 77%
160 Phillips Pet rts wl .63 .55 .60
60 Beit Bank Oil new 54 50% 54
62 Roy ( mail OA R. 6% 6% 6%
1 Salt Ck Cons 7% 7% 7%
5 Salt Ck Prod 23% 23% 23%
1 Turman OH 2 2 2
5% Un Oil of Cal D.. 132 132 132
1 Woodley Pet ... 10 10 10
INDUSTRIALS.
1 Adirondack Power. 33 33 33
1 Allied Pack new .. 5% 5% 5%
2 Am Cot Fabric pfd 97 97 97
lAm Gas A El pfd 45% 45% 45%
7Am G AK nw wi 75% 74% 75
1% Am L A Tract ... 129 128 128
1 Arch Dan Midland 16% 16% 16%
1*« Borden A Co 129 125 128%
% Burroughs A M wl 55 55 55
14, Kklyn City It R... 14 13% 13%
2 Centrlf Iron Plg»e.. 30 SO 30
• I ClMMerton 11% u% u%
1 Chatterton pfd ... 12 12 12
■4 lme .Mp nets- wl A 36 36 36
I Chi Nip Btrnw wl 14% 14% 14%
1 Cleveland Auto 22( 4 22% 22%
4% C.iromonw Pow Cor 03% 00 01 >4
% Coramunw Co pfd 80 79 79
1 Curtins Assets Corp 6 6 0
1 Doehler UCCo wl 18% 18% 18%
90 Dubiller C A Radio 44% 40% 41%
11 Durant Mot 19% 16% 16%
3Du Pont Motors... 2% 2% 2%
% Blec Bond A Mb pf. 102 101% 101%
1 FAW Grand Ste wi 72 72 72
3 Film Inspect Mach. 4% 4% 4%
*4 Foundation Co pf.. 96 96 96
4% Gillette 2 It 206 291 206
41 Gen Motors new wl 59% 59 59%
3 Glen Alden Coal 115% 115% 115%
1 Goodyear Tire 11% 11% 11%
8 Haxeltiue Corp wi. 2.1 24% 24%
I lleyden Chemical.. 2 2 2
3 Hud-on A Man R R 21 Vi 21 21
1 Hudson Co pfd 39 39 39
1 Imperial Tobacco 17% 17% 17%
6 Lehigb Power sec. 10-4 16
% Lehigh Power Coal 63% 62% 62%
166 Le Val Coal nw wi 41*4 40% 40%
1 Midvale Co 23% 23% 23%
Vi Nat Tea Co nw wi 224 223 224
• Va N Y Tel Co pfd .. 109% 109% lIIC%
1 Umn Co A pf wi.* 80% 89% 89%
2 limn Co vt tr cf wi 13% 14% 14%
1 l*hila Elec 3*, 3% 3%
1 i’yrene Mfg 10% 10% 10%
14 Radio Corp 5% 5% 5%
40 Radio Corp pfd ... 4 \ 4% 4
7 Radio nw A wi.... 2«% 26 26%
1 Republic Ry A Lt 4 4 4
3 Radio new A [if wi 43 42% 43
2 Repetti Candy 51 .31 .51
1 Iteo Motors 16% 16% 16%
38 Ron Rad Co tr cfs 12% 12% 12%
5 Sit Gel I’r n vie wi 21 19 1 4 191,4
70 So C A I new 05 .05 .05
% Southern Cal Edlg 98% 98% 98%
3 Stand Pub A 25% 23% 25%
9 Venn Elec Power. . 36 35 35
2 Tenn El I’ow 2nd pf 65 65 63
2 Thom Rad C vtc wi 16% 16% 16%
1 Tobuc. o Prod Kip.. 3% 3% 3%
1 Union Carbide .... 59% 59% 59%
9 Culled Hakeriei*.... 94 93 93V4
I Cnited Hakerlen pf. 94 94 94
4 United G A E new 33% 33 33%
17 Ward lUk Cor 11 wl 22* 4 '&Vi
21 Ware Radio Cor wi 19 17*4 17ii
MIKING.
27 Blaok Oak Gold M. .97 .91 \ .97
15 Canario Copper.... 3% 3% 3%
56 Con Cop Mine- new 3% 3%
10 Cons Nev Utah 08 .08 .08
7 Crown King Cons. 1% 1% 1%
100 Diamondfld 111 Rut .19 .18 .19
30 Divide Kxtentdon... .03 .05 .03
1 Dolores Bsper 54 .34 .34
90 Flo Goldfield Mine .13 .12 .13
10 Gold Zone U 5 .05 .05
100 Hardshell Min 03 .02 .02
310 Harmill Dlv 25 .22 .23
3 Htcla Mine 9 9 9
130 Independ Lead 12 .11 .12
79 Jib Cons 77 .73 .75
25 Ktr Cop Cor 1A 1% 1%
3D Knox Divide Ol .Ol .Ol
50 Ix>ne Star (W .08 .08
30 lior Nil NjD Ltd .. .41 ,40. .41
1 Mutton Val 2 2 2
2D McNamara Ol .01 .01
2D McNamara Cre» Dev .Ol .Ol .Ol
3D Mohican Cop 13 ,12 .12
I N>w Cornelia 21% 21% 21%
Vi New Jersey Zinc... 155% 155% 155%
1 North Hutte 6 6 6
7 Ohio Copper 1A 11
17 Plymouth Lead Mne .68 .66 .68
2 Premier Gold Min.. 2 2 2
10 Kay Hereules Ins.. .15 .15 .15
116 Red Warrior 02 .00 .60
9 Rocky Mtn S A Ref 1* 1% 1%
2 Rocky Mt SAK pf 1A 1A 1A
10 Ruby Kami Mines.. .35 .35 .35
50 Silver Horn Min.. .01 .01 ,01
20 Sliver Pick 06 .06 .08
50 So Am Gold A P.. 3T4 3% 3Vf
20 Spearhead Gold ... .08 .08 .08
II leek Hughes 1A 1A 1A
2 Torn* Belmont 62 .62 .62
5 Tonopah Kxtens.... 2 Vi ~Vt 2%
4 Tonopah Min 1% If) I{|
10 Tonopah Nor Star .02 .02 .02
2 United Verde Ext. 2S 27% 28
20 U S Cent erw wl. .18 .17 .18
1 Walker Mining ... 3V4 3*4 3*4
9 Wenden Copper ... 1% 1% 1%
20 Wejt End Ext 14 .13 .14
COMMODITY NEWS
WIRED STAR FROM
ENTIRE COUNTRY
PITTSBURGH, August B.—Steadily
increasing business features the
operations of the glass industry here.
MADISON. Wls., August B.—Em
ployment in the Wisconsin paper
mills show a slight gain for the past
month. Indicating that production is
maintained. Wages have declined in
small amount.
HOUSTON, August 8. —The condi
tion and progress of the rice crop on
the Texas Coast is reported good, al
though there has been some shortage
of water due to heavy evaporation.
The acreage is about 156,000, or 2
per cent less than last year.
NEW ORLEANS, August B.—Orders
for Fall shipment of dry goods and
notions show marked improvement
and this month is expected by whole
salers to be the beat of the year.
CLEVELAND, August B.—The Otis
Steel Company is operating at 60 per
cent of capacity, but may increase
output soon, according to officials.
BOSTON, August B.—A local dealer
in sheepskins reported today he had
sold more hides this week than in the
past four weeks combined and more
than in any similar period since the
war,
Luray “Merchant Prince” Diet.
Special Dispatch to The Star.
LURAT, Va., August B.—John W.
Grove, the "merchant prince of Lu
ray.” about 80 years of age, is dead.
For 40 years he, with his brother,
Charles H. Grove, had engaged in the
mercantile business in Luray. Mrs.
Grove has been at the point of death
at her home for several weeks. The
burial will take place in Green Hill
Cemetery.
City to Open Hew Pool.
Special Dlepatcb to The Star.
LYNCHBURG. Va.. August B.—The
city will open a new swimming pool
in Riverside Park tomorrow. It is
216 by 70 feet and is built in a wood
ed section of the new park. The city
pool at Killer Park during the past
few days has averaged IN feathers
who pay..
C. & O. ONE OF LINES IN BIG RAIL MERGER
ptjSuSßwSt t \l J-M
sgsgTOfi ,og*jjf***** r ALBANV j !****
_y
y { ]\ ° r,TT ®®' JR [Z: ~
\_*tl l
GUT IN TAXI FARES
MAKESCABS HUM
Tremendous Increase Noted
in Patronage-Women
Best Customers.
BY J. C. UOVLK.
Special Dinpatch to The Star,
i NEW YORK, August B.—New York
has developed taxlbitis and the epi
demic bids fair to spread to other
cities. The first symptoms of this com
plaint made their appearance at the
same time a larger number of the
taxicab companies and operators re
duced their charges to 20 cents a milt.
Millions of taxicab men differ widely
as to whether the reduction in fares
has been a profitable move so far as
cash receipts and profits are con
cerned. but all agree that undoubtedly
it has stimulated the “riding habit.”
During the recent hot spell swelter
ing citizens unable to obtain comfort
in their homes have spent hours at
night riding about the parks and
streets in a cab-created breese. At
times it has been almost Impossible
to obtain a cab in the neighborhood
of Times Square and other centers
where formerly empties were visible
on every hand.
Taxis I.ine Beaches.
A constant string of taximeters
has lined the roads to the Long
Island beaches, and the road to Coney
Island has been congested with cab
riders day and night since the hot
spell began. Resorts 20 and 30 miles
from New York In New York State
and New Jersey now are visited con
stantly by taxi parties, who find that
the cab tares for a party of five or
more amount to little more than the
regular railroad fares.
Much of the effect of the reduced
rates, however, is psychological. For
short hauls, the new rates effect a
comparatively light saving, but the
Idea of “bargain” rides undoubtedly
has made a wide appeal, especially
among woman patrons. Many of
these have found that expenditure of
a relatively small sum for a cab in
which to conduct a shopping expe
dition effects a savings of nerves,
discomfort and wear and tear on
clothes and make-up incident to the
subway crush.
MiMlcadiaa Signs Gone.
The feminine patrons are given
chief credit for the abolition of mis
leading signs of some taxi drivers..
These carried the words, “Twenty
cents a mile,” in large letters, but
added the statement in small type
that the owner could not afford to
operate his cab at that rate. Many
women enticed into cabs by
such signs immediately called police
men and the signs soon disappeared.
The question of maintaining the
lower rates still is being vigorously
debated in cab circles. Some com
panies declare that the low rate has
cut idle cruising time from 50 to 60
per cent, with consequent betterment
of receipts. One company has decided
to make the rate 20 cents for the
first half mile and 10 cents for each
half mile thereafter and some still
stick to the 30-cent rate. The latter
declare that profits are impossible at
the lower rate.
Driver* Oppose Redaction*.
The drivers themselves, however,
seem generally opposed to the re
duced fare. One man who owns his
cab declared today he could see no
profit in hauling a crowd of five 20
miles Into the country at a price of
$4 and running back empty. Others
complain that the reduction in rates
has also produced a reduction in tips,
which form a decided Item in the re
ceipts of some drivers.
The busses have also enjoyed in
creased patronage during the heated
spell, and on ruts where it has been
customary for these vehicles to “wait
for a load” they are now making far
more daily trips that formerly.
The craze has extended even to
London, where last Saturday and Sun
day the motor busses handled a total
of 5.200,000 passengers, of whom
3,600,000 were carried Sunday.
Reports indicate that the increase
in the “riding habit” In New York
has been sufficiently impressive to
bring about deep consideration among
taxicab operators in other cities con
cerning similar reductions. This
trend has been augmented by the
stricter enforcement of parking regu
lations In congested streets which has
compelled drivers to cruise for cus
tomers rather than wait Idle at dif
ferent stands.
DIES OF BROKEN NECK.
Hcspital Physicians Fail to Save
Farmer After Fall.
By th« Associated Press.
CUMBERLAND, Md.. August 8. —
Arthur B. Wilson, 64 years old.
Moorefleld, W. Va., died at Western
Maryland Hospital here last night
after having been treated for a
broken neck.
Sunday, July 27, he fell from the
hay mow at his home and struck on
his head. His wife and one son sur
vive.
RETAILERS OPTIMISTIC
REGARDING FALL TRADE
Special Dispatch to The Star.
ST. LOUIS* August B.—Delegates
here for the convention of the Amer
ican Retailers’ Association are opti
mistic over the outlook for fall trade
and expect further Improvement dur
ing the Autumn. The encouraging
features, they say, are' the easiness
of money, higher grain firlces, the
checking of over production in many
lines and the low stocks now held
by merchants.
SHVEE HELPS COPPER.
NEW YORK, August 8. —Wall street
believes that any Improvement which
might develop In silver through an
organised foreign outlet would great
ly benefit many of the copper com
panies. Anaconda, Utah. American
Smelting and Refining Co. and others
were Included in tnie category as
their copper ores carry varying pre
cious metal values.
C & 0. IS INCLUDED
IN GIG RAIL MERGER
Nickel Plate Consolidation
Has Reached Definite
Working Agreement.
By the Associated Press.
NEW YORK, August 8. —Formation
of a new “Nickel Plate” company, in
which the Van Sweringen interests
of Cleveland will consolidate the Erie,
Pere Marquette, Chesapeake and Ohio
and Hocking Valley railroads with
their present “Nickel Plate” system,
has been agreed upon in a series of
conferences between the Cleveland
railroad magnates and bankers for
the various roads, according to an
unofficial report in Wall street. The
main features of the merger plan as
outlined were given creden<fe by in
terests closely identified with the
roads involved.
Control of the companies to be
drawn Into the mammoth "Nickel
Plate" system, according to the re
port, will be acquired through an ex
change of stock and leases of physical
properties. Terms of the exchange of
shares have been accepted by the
larger stockholders of each road, and
after approval by the various boards
of directors the Van Sweringens will
make an offer to stockholders later
this month.
Plan* for Exchanging Stock.
Present plans call for the division
of the new company’s capital struc
ture into two classes of stocks, cumu
lative preferred and common, both to
pay dividends of 6 per cent.
General terms have been outlined
for an exchange of shares. Under
this program it Is understood that
holders of Erie first and second pre
ferred stocks will receive 50 per cent
of their holdings in preferred stock
of the new company. Common stock
holders will receive 40 per cent in
new common shares.
The exchange basis for Pere Mar
quette stockholders has been fixed at
90 per cent for the preferred shares
and 85 per cent for the common. Pere
Marquette prior preferred will be ex
changed on a share-for-share basis
into rt’ew preferred, thereby gaining
1 per cent in dividends.
Bnais for C. A O. Holding*.
Holders of Chesapeake and Ohio
6 */i per cent preferred will receive
115 per cent in new 6 per cent pre
ferred. giving them a return of 6.90
per cent, against an existing .limit
of C. 50 per cent. This road’s common
stock will be exchanged on the basis
of 55 per cent in new preferred and
a similar percentage of new common.
increasing the net return of holders
from 4 per cent to 6.60 per cent
The return on Hocking Valley com
mon shares, 90 per cent of which are
held by Chesapeake and Ohio, will be
Increased from 4 to C per cent by
exchanging them*, for equal amounts
of new common and preferred.
BIGGEST BAIL MEBGEB EVER.
$1,500,000,000 Deal Outrivals
Deeds of Goaild and Harriman.
NEW YORK, August B.—The World
today says:
The largest railroad merger In his
tory, involving combined capitaliza
tion of more than $1,500,000,000 and
close to 11,000 miles of line, was out
lined last night by bankers associated
with Orris P. and Mantis J. Van Swer
ingen of Cleveland, owners of the
Xlckle Plate system.
The consolidation, outrivaling any
thing done in the days of E. H. Har
riman or Jay Gould, calls for the for
mation of a new company and the ab
sorption of four railroads bv the
New York. Chicago and St. Louis.
Atlantic Seaport* Obtained.
With acquisition of Pere Marquette
and the Erie the Van Sweringen
brothers have achieved what seems
to be only an immediate aim—the cre
ation of a great railroad system
stretching its network of lines from
the important gateways of the West—
Chicago. St. Louis and Peoria—to the
Atlantic seaboard and rivaling in
point of mileage the leading carriers
in this territory.
They will not stop there, in the
opinion of those who arc best able to
estimate the vigor which they have
brought to their enterprise. Wall
Street guesses they will go far beyond
present accomplishments, even ‘to
creation of an eastern terminal in
New York and a western terminal on
the Pacific coast, opening a route
across the continent for which the
best efforts of other days were spent
in vain.
Started a* Newsboy*.
The story of the Van Sweringen
brothers is one of romance and
achievement. As financiers talk of
the doings of these men they marvel
at their nerve. “How do they do it?”
is the question on the lips of every
one connected with the railroad busi
ness.
The story of the rise of these
Cleveland magnates, as a matter of
fact, reads like Horatio Alger or
Oliver Optic. Both started as news
boys. Barefooted, they sold papers
on the streets of Geneva, 40 miles
east of Cleveland. Today, worth
many millions of dollars, they both
are under 45. Orvis is 43, Mantis 41.
Family circumstances never per
mitted either boy to have other than
a common school education. But by
diligent reading and through the
school of experience they dug .out an
education for themselves.
Their mother died soon after the
family moved to Cleveland. Orvis
and Mantis obtained work as office
boys. Later they entered the employ
of a real estate company and thus
found opportunity to invest their
savings in land.
One day they acquired 2,000 acres
in what now Is known as the Ufiaker
Heights district, far from t.,e settled
residential district of the city, and
asked the Cleveland Railroad Co. to
extend its tracks. When this was
re ised they borrowed additional
capital and built a line of their own,
with the result that city cars ran
straight to the property.
To make the story short, they cut
out lots, built streets and sold the
property in bits at enormous prices.
The deal made the van Swenngens
wealthy and led to eventual pur
chase of the old Nickel Plate.
SHARKS PLAY HAVOC
WITH FISH, VIRGINIA TOLD
Commissioner Lee Says Destruction
Off Coast Hits Shad and Herring
Supply.
NORFOLK, Va., August B.—Sharks
off the Virginia-Carolina Coast de
stroy more fish in a day than all the
nets in Chesapeake Bay catch in a
season, according to W. McDonald
Lee, Virginia fisheries commissioner,
speaking before the Norfolk branch
of the Izaak Walton League of Amer
ica last night.
Mr. Lee referred to the crusade
against the owl and hawk and other
destroyers of game and advocated
similar protection for fish that swarm
in schools up the coast.
"I have been off the North Carolina
Coast,” Commissioner Lee said, “and
have seen miles of mangled shad and
herring floating along the surface of
the water. These fish, in their jour
ney toward their haunts in Chesa
peake Bay, frequently run into
schools of sharks, blue fish and mack
erel and are mutilated by the mil
lion.”
He attributed the recent scarcity of
shad and herring to these marauders
of the sea.
ROCKVILLE.
ROCKVILLE. Md., August 8 (Spe
cial). —Michael Hurdle, a young resi
dent of Kensington, this county, was
today taken to Winchester. Va.. by
Sheriff Pannett of that place, to an
swer a charge of forgery. It Is rep
resented that several months ago he
and a companion obtained SS on a
forged check.
Licenses have been issued by the
clerk of the circuit court here for the
marriage of Marshall I>. Clagett, 26.
and Miss Mary J, Wheeler, 25. both of
Washington; Clifford C. Moorhead, 23.
and Miss Virginia J- Thornton. 18,
botli of Washington; Milburn S. Wa
ters. 24. of Germantown. Md., and
Miss Olive M. Oriftith. 23. of Gaithers
burg; Albert L Beck, 27. and Miss
Kathleen A. Klrckner, 19, both of
Baltimore.
Because of the greatly increased
use of water, as a result of the exist
ing drouth, Rockville's water supply
is being taxed to the limit, and the
pumping station is being run night
and day to keep sufficient water in the
distributing tower to meet the needs
of the town. Ordinarily Rockville
consumes about 50,000 gallons a day,
but for some time past the amount
used has averaged around 65,000 gal
lons each twenty-four hours. The
big increase is, it is stated, due to the
watering of lawns, flowers, etc., and
Mayor Charles G. Holland has ap
pealed to the citizens to refrain from
the use of any more water than is ab
solutely necessary - until the drouth Is
broken.
Gilbert D. Wilkerson of Bethesda,
recently appointed a member of the
county police force, has been made a
deputy sheriff by Sheriff Clay Plum
mer. as has Daniel L. Snyder. Gov.
Ritchie has appointed Mrs. Jessie M.
Hunter and Miss Maude W. Johnson
notaries public for the county. All
have subscribed to the oath of office
before the clerk of the circuit court
here.
Melvin H. Martin and Miss Thelma
F\ Lipscomb, both of Highland
Springs, Va., were married in Uock
ville by Rev. John R, Henderson, for
merly pastor of the Presbyterian
Church, as were William E. Jordan
of Middleburg, Va., and Miss Sadie L.
Huff of Rectortown, Va., both cere
monies taking place at the home of
the minister.
In appreciation of the work of the
volunteer fire companies at Silver
Spring and Rockville in fighting fires
at Brookeville, this county, and prob
ably saving much property from de
struction. citizens of that town sub
scribed 375 and equally divided it be
tween the two departments.
The clerk of the circuit court here
has issued a license for the marriage
of Joshua Lynch, 29, of Cropley. this
county, and Miss Thelma L. Gooding,
18..0f Great Falls, Md.
With Bethesda and Boyds tied for
first place and Rockville only two
games behind, and with but 10 more
games to play, the championship race
In the Montgomery County Base Ball
League has aroused keen interest in
all parts of the county and the re
maining games, especially those in
which the three clubs mentioned meet
each other, promise to be hotly con
tested.
The directors of the Montgomery
County Agricultural Society have se
lected Walter Cashell for chief mar
shal at the annual four-day fair to
begin here on August 19, and those
who will serve as his aides are, accord
ing to announcement by President
Gilpin, Thomas A. Barnsley, Robert
Allnutt, Kenneth Barnsley, Robert
Chichester, Samuel Cashell, James W.
Brown, Frank Cashell, Edward Snow
den. Ridgely Chichester. Charles
Brown, Everett Beall, James W.
Barnsley, T. T. Barnsley, Philip
Darling, Otto Hewitt,'William Gil
pin, Robert Green, Edward Wootou,
Maynard King.
SHOE! TERM SECURITIES.
(Quotations furnished ty Redmond A Co.)
, Close.—-i
Bid. Offer.
Alomlnum Co. of Amer. 7« 1925. 103 108%
Aluminum Co of Amer. 7» 1933. 107% 107%
American Sugar Cs 1J37 99% 100
American Tel. & Tel. 6a 1923.. 114% 117
Anaconda Copper 6» 1929 103% 104
Anglo-American Oil 7%s 1023.. 102% 102%
Associated Oil 8s 1033 100% 101
Bell Tel. of Canada 3s 1925 09% 09%
Canadian Northern 5%» 1024... 100% 100%
Central of Georgia As 1029.... 102% 108%
Central Leather 3s 1925 99% 99%
Chi., Mil. & St. Paul Os 1934.. 100% 100%
Chi., H. I. A Prc. 3%a 1920... 101 101%
Columbia Gas. A El. Ist 5a 1927 99% 100%
Du Pont 7%s 1981 108% 108%
Federal Sugar Bes. 6a 1933 100% 100%
Fisher Body Corp. Ca 1927 102% 102%
Flaher Body Corp. 6* 1028.... 102 102%
Goodyear T. &R. 8a 1031 100% 104
Great Northern 7s 1930 109 109%
Gulf Oil Corp. of Pa. 5%« 1928. 101% 101%
Bnmble Oil 5%s 1932 09 90%
Kennecott Copper 7a 1930 106% 106%
M., St. P. AS.B. M. 6%a 1931. 102% 102%
Morris A Co. 7%a 1930 , 97% 98
New York Central 7%a 1930.../ 107% 108
Oregon Short Line 4a 1929 4)3 % 97%
Penna. R. R. Ts 1930, 100% 109%
Pure Oil 5%s 1925 100% 101%
Swift A Co. 5a 1932 94 % 95
Tidewater Oil 6%a 1931 108% 104%
Union Tank Car 7» 1930 104 104%
D. 8. Rubber 7%a 1930 103% 103%
Western Union 6%a 1936 11l 111%
Weatinghoiiae K. AM. 7s 1931. 106% 109
Wheeling Steel 6« 1926 100% 101%
BUTTER PRICES HIGHER.
CHICAGO, August B.—Butter-
Higher; creamery extras. 36%a36%;
standards, 36%: extra firsts, 35a36;
firsts, 34a34%; seconds, 32a33.
Eggs—Higher; receipt*, U. 301
cues; first*, 18*33; ordinary firsts.
FINANCIAL.
UNEARTH SKELETON
OF WOMAN SHOT
Body Found on Site of Norfolk
Honte, Recently Razed, Indi
cates Old Crime.
By thr Associated Preaa.
NORFOLK, V»„ August B.—The
skeleton of a woman with a bullet
hole through the skull was unearthed
by laborers on Granby street near
Lafayette Park yesterday.
The bones were only about 18
Inches under ground and were In such
a position as to Indicate the body had
been doubled over and crammed down
Into the shallow hole. The grave was
beneath a recently razed house and
is believed to have been there for a
number of years, though the house
was built not more than 10 years ago.
The police are searching back into
the records of unsolved murders In
an effort to obtain a possible clue to
the Identity of the woman.
EXECUTION IS DELAYED.
Virginia Negro Given Time for Ad
justment of Appeal Tangle.
Special Dispatch to The Star.
RICHMOND, Va., August B.—Bossy
Pattesson, negro, of Petersburg, Va.,
was scheduled to die in the electric
chair today, but received a respite.
Patterson it* charged with having
killed Irving Seid, a merchant, more
than two years ago. He and his
friends retained J. D. Hank, Jr., as
sistant attorney general, to appeal
the case to the United States Su
preme Court, and the necessary ma
chinery had been set in motion to
this end. Then Mr. Hank died two
days after he had notified an assist
ant that he would move the appeal
to the United States Supreme Court.
Gov. Trlnkle was Informed of the
state of affairs and suggested that
there be a delay of the sentence in
order that there might be opportun
ity for the appeal by other counsel,
and upon this statement the governor
extended the time to October 10.
TO THE POLICYHOLDERS OF
THE PRUDENTIAL
INSURANCE COMPANY OF AMERICA
NOTICE Is hereby given that a meeting of
the policyholders of THE PRUDENTIAL
INSURANCE COMPANY OF AMERICA will
be held at the Home Office of said Company
in the City of Newark, New Jersey, on Mon
day. the First day of December. 1924, at
twelve o'elock noon, for the purpose of select
ing four persons to lie voted for by the policy
holders’ Trustee as members of the Hoard of
Directors at thr annual election of Directors
of the Company to be held on the Twelfth day
of January, 1925.
At such meeting every policyholder of the
corporation who is of the age of twenty-one
years or upwards and whose policy has been
in force for at least one year last past shall
he entitled to cast one vote in person or by
proxy.
_ EDWARD D. DU FIT ELI*. Pronin t
Money on Hand
To Loan
on First Deed of Trust
Improved Property Only
JAMES F. SHEA
643 Louisiana Ave. N.W.
FEDERAL-AMERICANI
NATIONAL BANK
RESOURCES 513.000.000 |
ttiS F ST I
JMI rSOLC Nusmi I]
Arnold Guaranteed
Certificates
Arnold GunatfM Cert fSratra
afford a safe mod pioltakle in-
Trstoeat for sarplas food*.
They ore mured by *n»t mort
gages eo Improved income real
eotate and homes, and are a di
rect obligation of Arnold and
Company.
Issued In amounts of
SIOO, |SOO and JI.OOO, to
run for term of 2 to 10
years.
Send for Booklet K-X
ARNOLD AND COMPANY
Incorporated
Capital and Snrplnw, $1,250,000
141« Eye Street N.W.
Telephone Mala 2434
?? ' ?
o o O
1“
Have You First and Second
TRUST NOTES TO SELL?
I i
We have ample funds for the purchase of First and Second
TRUST NOTES, as wdl as COLLATERAL NOTES secured by
improved real estate. i *
We Also Have Funds for Construction Loans
Real Estate Mortgage & Guaranty Corp.
(Resources Over One and A Half Million Dollars)
L. E. BREUNINCER, President 26 Jackson Place
| • STONE & FAIRFAX |
Anticipating the great demand for business properties, || >
a I have reorganized its BUSINESS PROPERTIES DEPART- ‘
MENT, adding to its salesforce MR. G. LEA STABLER and
F. S. HINRICHS, specialists ;n this class of property. {js
Owners of business properties, fist your property with i
| us. Buyers of business properties, see what we have to offer. '
I ' STONE & FAIRFAX |
HI Realtor* ' || .
H i
Over Thirty Years of Real Service |»
| 1342 New York Avc. M. 2424, 2426, 2427 .
k 4
15
WE FINANCE
Apartment Houses
Business Property
Residence Property
Hotel*, Etc.
Higbie & Richardson, Inc.
SIS 15th St. N.W.
When Buying
Our 7%
First Mortgage Notes
Yon Can Be Aaanred
First.—A very careful and con
servative appraisal has been
made.
Second. —The loan we recommend
is less than 50% of the market
price.
Third. —After you have purchased
one of our notes you gel a
service that assues you inter
est the day due.
Notea on hand io amounts of
SIOO up.
Chas. D. Sager
311
924 14th St. N.W. M »‘“
Loan Department
CONDITIONS OF THE
GERMAN MARKET TODAY
Make it imperative that you protect
your intercut* by
REGISTERING
VOl It
STOCK AND BOND
CERTIFICATE .
NUMBERS.
Addrrss
FOREIGN BANKING SERVICE.
203 Investment Bldg. Franklin 3975.
EQUITABLE
Co-Operative Building
Association
Organized 1579
44th YEAR COMPLETED
Assets $4.755,170.52
Surplus 51.24hL320.0S
Great Accomplishments
Through Systematic
Saving
—Join the Equitable «nd save in a sys
tematic manner unit you will grow
stronger and stronger in a financial
way.
Subscription for the
87th Issue of Stock
Being Received
Shares, $2.50 Per Month
EQUITABLE BUILDING
915 F ST. N.W.
JOHN JOY' KDSON, President
FRANK P. KEESIDE. Sec’y.
Money to Loan
Secured by first d**d of trust on real estate
Prevailing interest and commission
Joseph I.
i
greater safety
greater service
greater business
We are grateful to the
public for recognizing and
appreciating that the ele
ments of ’'safety” and
‘‘service" have been the
foundation of our Mort
gage Investments, and have
accordingly rewarded us
with "greater" and ever-in
creasing patronage. We
woyld like to explain our
service policy to you and
show how your money can
be absolutely safeguarded
and still earn 6*tj%.
"Write or Phone our
MORTGAGE
INVESTMENT
DEPARTMENT
For Literature and Details |
I & LUCH^j)
713 and 713 14th St. N.W.
Main 2343

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