davidaulloa/AmericanStories huggingface dataset:
Evening star., 1925-11-08
WALL STREET BRIEFS

NEW YORK, November P.-
Steel operations in the Youngstown
district next week will average more
than 80 per cent for the first time this
year, approaching what steel men in
the valley term capacity schedules"
Republic Iron and Steel is near 80
per cent production.
Net profits of the Foundation Com
Dany for the months this year IN
creased to $6l2,901, compared with
Soa9,4Us III the same period Of 1924.
This was equal TO S6.5I a share on
$4,000 common shares, no par value.
against s7.53 share on 67,5i9 COM
mon shares. after preferred dividends,
a year ago. The third quarters net
declined to S2jl,3 or $3.50 a share
On the common, from s326.34S. or 1882
d share. in the preceding quarter, and
compared with Sl94,4G2, or $o75 a
share. In the third quarter last year.
reports Of merger OF Phillips
petroleum Co. and the Texas Conpa ny
were denied today by Frank Phillips
president OF Phillips Petroleum. He
SAID no negotiations were pending.
iron and scrap steel prices have
advanced 81 q ton In the Birming
ham district, heavy smelling being
quoted at Sl4 ton
Ihe Atchison, Topeka and Santa Fe
mas ordered $4,000 tons OF rails from
the Colorado Fuel and Iron Co.
Southern Gas and Power Corpora.
ton is completing negotiations for the
purchase Of several important gas
properties In New York State, Penn
sylvanla and Maryland. It now con.
trolls gas companies In Georgia, West
Virginia. North Carolina and Ala
bama. New financing Will be done IN
connection with these purchases 1t
is expected additional issues Of class
a stock and convertible notes will be
offered in New York within the next
few weeks
Carnegie Steel has received an order
for 5000 tons Of rails from the Wheel
ing and Lake Erie and is expected TO
get half of the Reading Company S
30,0o0-ton order. the balance going TO
Bethlehem Steel.
Progress made by various joint
stock land banks in the third quarter
this year is reflected IL q report by
G. G. Taylor & CO.. bankers for this
type Of securities, showing total re.
sources OH September 80 amounting
to $3.50, ,s09.5 iii. an increase OF s26 $780,
600 over the preceding quarter. Capt.
tai stock outstanding was $40 .S04 900,
an increase Of $2.422 $50. The statis-
tics Indicated average net annual earn
/, ings OF per cent in addition to diri-
dcnds declared or paid.
Evening star., 1925-11-08

Progress Of Land Banks

In a report OF the progress made
by the various Joint Stock Land
Banks for the third quarter of 1925
c. 6. Taylor & Co., Inc, Of New
York. bankers for Joint Stock Land
Bank Securities, quote official figures
to show that total resources on Sen.
tember 80 amounted to S5SoS09,5I1,
an increase OF S26,se5,o 900 as com.
pared with the preceding quarter.
Capital stock outstanding September
80 was S40,8o4,o ,oS0, an increase Of
42,422,660. Net worth increased S..
634,2%4 for the same period and the
consolidated book value increased
over per cent after allowing for
dividends declared in June and Sep.
tember. This indicates average net
annual earnings Of 8 per cent in ad
ditlon to dividends declared or paid.
Eighty Joint Stock Land Ban
have been chartered under the nro.
visions of the Federal farm loan
act. Eleven Of these have been lioui.
dated or consolidated with Other, Jotnt
Stock Land Banks. OF the 60 Joint
Stock Land Banks now doing bust
ness all but five show increases in
net mortgage loans in force.
Mortgage Loans Increase
The Cd Land Banks showing in.
- Se-SSo AAA Ai|l AilOl t6d5c LOANS the
current quarter added $17,564 900 TO
the S601 $4,000 mortgage loans, in
force June 80. This would seem 10
indicate" according to report, "a con.
t1nued demand for rural credit on the
long term, low interest and no com.
mission basis as provided by the Fed.
eral farm loan act"
The aggregate amount of Joint
Stock Land Bank farm loan bonds
was increased $1S,209, 900 to a total ~
$5o7,6s5.o00 during the quarter. The
excess OF increases in bonds during
this quarter to the increase in net
mortgage loans for the same period
is partially accounted for by reason
of refundinG operations being con.
Quoted by some of the Joint Stock
Land Banks.
1t is expected. owing to per
cent bonds being called, which are re.
funded by Az per cent bonds already
outstanding, that the aggregate
amount Of Joint Stock Land Bank
Evening star., 1925-11-08
FLOUR BIT LOWER.

MINNEAPOLIS. November OPl.
Flour unchanged to 10 lower at
S.6OaS.70 a barrel. Shipments, 5o,-
044 barrels.
Evening star., 1925-11-08

bonds outstanding Will likely be re
duced by from six to ten millions
within the next As days, the report
says. These refunding operations have
proven profitable to such of the Joint
Stock Land Banks as have been able
TO call per cent bonds at par to be
refunded by Az per cent bonds on
which the banks have been able to
get a premium. Interest charges to
the banks are reduced one.half of one
per cent annually, the premiums being
available to surplus and reserves.
Joint Stock Land Banks combined
investments in Government bonds for
the past quarter Increased from s21.-
461 900 to 325.550,0 900. cash having in
creased from S12 900 900 to s14, 900 900.
They had on hand September so cash
and Government bonds In excess of
the capital stock then outstanding.
Evening star., 1925-11-08
MARKET Is BUOYANT
IN FACE OF REACTION

NEW YORK, November : LP).-Al-
, though q natural reaction in stocks
took place at the close of the week,
the market still retained its spirit Of
buoyancy. From many conservative
quarters came warnings that specu-
lation for the rise had been overex-
tended. but evidence remained that
Wall Street was jubiiant over the i'm
proving prospect for further tax re
duction, the promised flood OF in
creased and extra dividends and the
growing belief that many corpora
lions will be fol cCd to pass on un-
divided SUI pluSes to their share
holders
Evening star., 1925-11-08
u. S. Steel Common
Up Over 10 Points
In Weeks Advance
By the Associated Press.


NEW YORK, November T.
With records Of many years
standing broken in the breadth
and volume Of stock trading, as
we'll as In the price levels of pre-
mier industrial shares, financial
interest this week was almost ex-
clusively occupied with the spec
tacular show staged on the New
York Stock Exchange.
AS ii to celebrate the first ami
versary Of the so-calIed Coolidge
BOOM" which had it's inception af-
ter the election just year ago,
the public We'd with professional
traders in n mad scramble to push
the prices Of their favorite stocks
to new peaks. United States Steel
common, recognized bellwether
OF the market, swept forward
more than 10 points during the
week into new high ground above
139. taking with it a flock Of such
popular issues as General Motors.
du Pont, Hudson Motors, Allied
Chemical. American Can and
American Smelling.
Evening star., 1925-11-08
FOREIGN EXCHANGE.

NEW YORK, November R.-
Foreign exchanges steady; quotations
in cents: Great Britain. demand
4S4as; cables. iS4 11-16: 60-day bills on
banks, 4803.. France. demand
4.051a; cables, 4.0G. Italy. demand
3.98la; cables, 3.99. Demand: Bel,
GUM, 4.531s; Germany. $3.50; IIoI.
land, 40.21; Norway, 2037: Sweden,
26.73; Denmark, PASS; Switzerland,
1879; Spain, 1929; Greece. 1861;
Poland, 1915; Czechoslovakia, 296;
Jugoslavia, LIT; Austria, 141s; Ru-
mania, AN; Argentina, 41.45; Brazil,
10; Toxic, 42A; Shanghai, IS; Mon.
treal, 100 1872.
Evening star., 1925-11-08
BY CH.iS. Z, SRAEFFER.

The prosperity OF Washington. as
| measured by banking deposits. the
best available barometer. has more
than doubled or specifically increased
it4 per cent since Americas advent
INTO the great war, statistics show
on May !. 1917. or less than a
month after this country Joined ac-
lively in the conflict, local banking
institutions had on deposit Il total of
Sllo $3.50 ,346.4O as shown by reports sub
mitted as of that date to the CON
troller Of the currency. On Septem-
Der Is last, when banks again sub
mltted the report. a total of $685.
oeT.1s2.t5 was shown. The figures for
the wartime date do not include the
hrst heavy Withdrawal Of funds used in
participating in the first Liberty loan,
which took away from the local banks
approximately SIS, 900 900 in the first
draft.
Banks, numerically. have undergone
but little change since that time. At
the moment there are 43 banks report.
Ing periodically TO the controller Of
the currency. while on the earlier date
there were but SO. National institu-
tions. which now number 13, show a
single loss over 1917, while savings
banks have been augmented by four
and trust companies by one.
'oHhNAS NAduSSs SInCt lS1
Since 1917 the Liberty has made its
advent into national banking circles,
while the present amalgamated Fed.
craI-American was then operated as
two separate institutions. The Dupont
National, now a branch Of the Mer-
chants Bank and Trust Co. was also
operated independently III 1917.
OF the % saving institutions at pres
ent doing business in the city only l3
were known by their present names
eight years ago. These are the Ana
costa. Commerce and Savings, North
Capitol, Seventh Street, Park, Sc
United States, East Washington, Po-
tomac, Washington Mechanics. Nc
Lachlen, Industrial and Northeast.
The Home, Union, Merchants, EX-
change, Northwest and Equity have
III passed from the picture since 1917,
either by merger or conversion. but
In their stead has come 10 new instt-
tutions, namely, the Bank Of Bright
wood, Central Savings, Chevy Chase.
Citizens. Departmental. international
Exchange, Mount Vernon. Prudential,
Washington Savings and Woodbridge
Langdon.
The trust company section of the
local financial field has had but one
new member in the last eight years,
namely the Merchants Bank and
Trust Company, q converted savings
institution.
Railway Common at 12a
\ Single issue was the feature Of
the weeks closing session on the
Washington Stock Exchange, namely,
Railway common. This security
with a present market level of double
It's par, was held at 220, an unprece.
dented peak, with a recorded bid"
price of 1875. The present spread of
25 points represents the widest chasm
since the hectic days a few months
ago when the stock was registering
gains Of as much as 35 points a day
Traders are nonplussed at the issue s
action and can offer no explanation.
Another bright feature Of the mar
kets action during the week was an
Evening star., 1925-11-08
Italian Lira Stronger.

Indications that the French govern
ment was considering new plans %
support its currency, possibly with
the aid OF new American credit,
brought about a further recovery In
the franc 10 about 4.o5 cents. The
Italian lira was strengthened by re-
ports that an accord on a debt settle
lnent was near, while sterling eX.
change held firm around $4.S4as-
Evening star., 1925-11-08
BOND SUMMARY FOR THE WEEK
L. =. BONDS.

High. Low
lol 2s
es
io' os e9s 3s
Evening star., 1925-11-08
LOCAL BANK DEPOSITS GAIN
IO4 PER CENT SINCE GREAT WAR
Total in 1917 Only $1lO,895,3 $40 as Against
S226,587, l43 Today-Other Timely
Financial Notes.

advance in Railway preferred. which
.'arried to SIS III the closing session.
When the new issue of Potomac Elec-
trio Power preferred was first noised
Il few weeks ago Railway preferred
suffered, many holders beginning 10
make plans 10 switch their commit
ments. This action was later nulliffed
by the huge oversubscription. which
limited alotmentS to five shares to q
customer, and il is now believed
traders are reinvest!ng their funds In
the carriers preferred stock. Interim
receipts OF Potomac preferred are
again strong at l03I., with public
sales of .91 shares
Denies Seeking W. r. & +. Stock.
The North American Company is
not considering nor has It at any
time considered acquiring control of
the Northern Ohio Power COMPANY.
southern California Edison Company
or E'aciflc Gas and Electric COMPANY.
r l.. Dame. president OF North Amer.
ican announces, nor does the com
pany contemplate acquisition Of ad-
diuonaI common stock OF the Wash
ington Railway and Electric Conpany
OF this city.
The National Metropolitan Bank of
Inns city reiteratcs that 1t is not q
trustee OF the Washington Central
trust, which IS erecting the Washing
ton building here at Fifteenth and 6;
streets northwest, on which a $500.
9oo pond issue IS being fioated.
Inc bank states ii Is not familiar
with the trust and wishes TO eliminate
embarrassment and correct a rnistal-ar
impression. -
Unlisted Securities Prices.
The following latest bid" and
asked prices for unlisted securities
arc quoted for the guidance Of hold
ers oil these issues:
Evening star., 1925-11-08
Markets at a Glance

NEW YORK P).-Stocks irregular;
United States Steel touches record
high: then reacts. Bonds steady;
French issues firm. Foreign ex.
changes mixed; French francs con
tinue recovery. Cotton lower: spot
houses selling. Sugar easy; Cuba n
selling Coffee steady; importers buy
ing.
CHICAGO.-Wheat lower: predic.
tions increased receipts. Corn higher;
uufavorable weather. Cattle dull.
Hogs lower.
Evening star., 1925-11-08
TOTAL STOCK SALES.

NEW YORK, November Especial,
Tho total number OF shares unofs
cially reported as traded in on The
New York Stock Exchange today was
1.372,600, against 2.732.200 YESTERDAY
1892 500 Il week ago, 1856 400 q yea,
ago and $4,000 two years ago.
From January ] to date sales were
363,246,32c, against 03,62s,s0o a yeal
ago and 1s2.728,500 two years ago.
Evening star., 1925-11-08
HEAVY SELLING HITS
SATURDAY MARKET
Prices Decidedly Reactionary
as Week CIoseS-NeW
Peaks Also Touched.
Rr the Associated Press.

NEW YORK, November T.
Wearied by the intense activity Of
the past week. which had carried
prices TO new peak levels and
smashed records for the volume and
breadth of trading. the stock market
today succunsbed to the pressure of
week end realizing sales. Prices
turned decidedly reactionary as the
week drew 10 a close, but not until
after United States Steel and a score
OF other leading industrials had
spurted forward again to new high
planes.
The reaction was considered a
natural development after the excited
advance of the past few days. De-
spite the fact that the speculative
frenzy showed signs OF exhaustion,
however, the market still retained
traces Of its earlier buoyancy. AS
representative shares gave way
before the onslaught of selling, new
specialties We're ushered into buy
Ing favor with a few net gains OF l
to points standing out in contrast
to the longer list of losses for the
day.
RumOrs Flood Market.
With United States Steel common
selling at the highest level in It's
of rumors regarding favorable de-
velop,aents for the corporations
stockholders should he broadcast
These revolved about the possibility
OF a distribution OF the company'S
huge undivided surplus and attract
5d another food of buying orders
into the market soon after the open
ing. After running up more than
point TO a new peak at 1891, how
ever. the stock finally crumbled to
1879 closing at l31 IS. with u trac
tional loss for the day.
Encouraged by the early buoyancy
Of the premier Industrial issue, rep
resentatives OF other industrial groups
followed its leadership TO new high
ground. Among them were General
Motors at 149a, Allied Chemical at
l14&., United States Rubber at S9i4
Texas Gulf Sulphur at 121i. and
Schultz Cigar stores At 1851.
Many Gains Cancelled.
Many of these issues. by virtue OF
their exceptional strength. were sin
gled out as targets In the later sell
ing attack. which Cancelled most Of
the early advances and drove the ma
jority Of stocks below last nights
closing figures. Recessions were most
marked however, in the iGh-priced
specialtles, with Dupont, General
Electric, Brown Shoe and United
States Cast Iron Pipe sagging 10 j
points below the days maximum
prices.
Undiminished outside buying was
an important factor In stiffeninS the
markets resistance. and In the final
few minutes OF trading brisk rallies
were again under way. Allied Chem
ical showed sustained strength, clos.
ing with gain Of more than 1
points. and some Of the railroad
shares which had escaped the wave of
profit taking and bear selling were
given additional support.
Italian Lira Stronger.
Indications that the French govern
MI u
Evening star., 1925-11-08
WOOL MARKET STRONG.
Mills Taking More Domestic and
Foreign Stock.
special Dispatch to The Star.

Special Dispatch to The Star.
BOSTON. November 7.-Re1ecting
strength In foreign wool markets,
spot woods OF foreign type in Boston
are strengthening. Cables from Gee
long this week have indicated further
advances in the market there and
the Sydney market is firm. Monti-
vedeo woods of good quality have sold
at higher prices. Mills are taking
in increasing amounts of both do
mestic and foreign stock.
Evening star., 1925-11-08
BUTTER MARKET EASY.

CHICAGO, November 7.-Butter
easy; receipts, 9,706 tubs: creamery
extras, 4S12; standards, 45+; extra
hrsts, 45a47l2: firsts. 44a44Ih; seconds,
4la43. Eggs unchanged; receipts.
2,671 cases
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1925-05-12
PROPYLkEUM TO
ENLARGE home
Association Re- elects Of
fiCerS at Meeting.

At the annual meeting of the
stockholders of the Indianapolis
Propylaeum Monday afternoon, do
nations amounting to $4,000 were
made for the building fund for a
larger Propylaeum at its present
site. 1910 y. Delayare St. Discus
sion Of plans for such a building
probably will be held at the regular
board meeting June 8.
Gifts Of $4,000 each were made by
Mrs. John y. Carey. president; Mrs.
Frank D.. Stalnaker, Mrs. Arthur V.
Brown and Mrs. Jaquelin s. Holli-
day. Gifts Of 81 900 each We're made
by Mesdames Lynn b. Millikan. Will
liam II. Coleman. II. c. Tuttle and
NJ. J mes II. Roberts.
Mrs. Carey was reelected presi-
dent. and these officers We're also re-
eletced: Mrs. James T. Barrett, first
vice president. Miss Elizabeth Clay
pool, second vice president; Mrs.
John w. Kern. secretary, and Mrs.
Thomas c. Kackley. treasurer. New
directors elected for two years are
Mrs. Ernest Knefler. and for three
years, Mesdames Wilbur johnson.
Fred Hoke. James r. Barrett, Au-
gustus Coburn. Eben II. Wolcott.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1925-05-12

Hearty, hale, and nearing his
Tooth birthday, the Rev. James B.
Lathrop of Greensburg, oldest
Knight Templar in the United
States. is in Indianapolis, attend
ing the Knight Templar c~onclave.
Accompanied by two of his
daughters Rev. Lathrop went to
the home of his son-in-law, Frank
L. Gavin, attorney, Apt. /, 1908
Central Ave.
Rev. Lathrop was made a Ma
son in 1851 at Franklin. In his
youth he was a pioneer Methodist
CIRCUIT rider. Probably no other
Indiana minister has married and
buried more persons. He served
pastorates in many Indiana towns.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1925-05-12
His Buddy'S Girl

Miss Lee; I love a little girl very
steady. He was my buddy when we went
to school, but now 1 don't speak to him
because he goes with the girl l want.
They have been going together about
two years. Don't you think | can make
her. forget him. When they get angry
with each other. she will go with me un-
Ill they make up. He works every other
night and she goes to see him. When he
is off they are together. There are many
fellows who want to go with her. Please
tell me how 1 can win her, because ! love
her. A GUY IN LOVE.
/ would not wish for any girl to
be won by a man with as small a
soul as yours. How ridiculous Of
you to stop speaking to your
buddy" because you love the same
girl. If you really loved her. you
would be more interested in her
happiness than in your own. Unless
she is very hard-hearted, it would
not make her happy to have your
friendship with your buddy broken
because of her.
The girl quite evidently prefers
your former friend to you and the
other young men. U~nselhshness
would help your character-and
your cause.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1925-05-12
RECEIVE FOR YRS. LORD
Business and Professional Women
to Attend Dinner.

Business and professionl women
Of Indianapolis have been invited
to the dinner to be given Friday in
the Riley room of the Claypool by
the State Chamber Of Commerce, at
which Herbert M. Lord, director Of
the national budget, will speak. Pre-
ceding the dinner an informal recep-
ton will be held for Mrs. Lord on
the mezzanine floor. Receiving with
Mrs. Lord will be Mrs. j.. +. Frede-
rick of Kokomo, Ind; Mrs. John A.
Shields and Mrs. Upton Blish Of
Seymour, Ind; Mrs. j.. a. Van Osdol
of Anderson, Ind, and Mrs. l.. J.
McGinnis of Columbus, Ind.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1925-05-12
The Tangle
LETTER FROM LESLIE PRES
COLT TO THE LITTLE MAR
QUISE, CARE OF THE SECRET
npAWEP CnNTTNTrEn

DAANh ~ 11Ds
do you possibly think, Mrs. Pres
colt. that the charming hostess of
the most exquisite party / have ever
attended would condescend to dance
with an humble but most devoted
courtier?" Mr.. Sartoris asked.
'Oh, Mr.. Sartoris, I am sorry IL l
have neglected you" | replied. AL
though l recognized the voice I did
not turn around.
But you have not neglected me.
dear lady. How could you when
you evidently did not know I was
present. You seem to be able to
recognize my voice easier than my
face. for you have looked quite
through me and past me many times
tonight. Always when l have fol
lowed the direction of your eyes,
they have bene upon your husband.
He is a fortunate man."
Perhaps, he may not think that.
However, ! will answer your request
for a dance in the same language in
which you have asked for it. l have
been wondering. Mr.. Sartoris, where
the best dancer ] have ever known
has been hiding. for / protest to
you hat my eyes have not rested
upon you all this evening. | am
very glad. however, that at last you
have come and asked me to be your
partner III this dance, and ] accept
the great privilege with alacrity."
Mr.. Sartoris colored and l was a
little sorry that | had made fun Of
his very formal hattery. To make
up for it. l asked: "Of course you
see the orchestra has started to play
of those wild Argentine airs"
Yes, ! tango" Mr.. Sartoris. an.
swered eagerly, land I knew you
did. Therefore l asked the leader to
play one before I came to ask you
to dance with me. You see, dear
lady. I knew that to tango with you
would be giving expression to all the
poetry of my soul"
You're incorrigible," l whispered.
II can neither ridicule nor frown
you out of your Latin batteries"
In a moment we were out in the
middle OF the gold ballroom OF the
hotel. and had commenced 10 dance.
For some time after that I knew
nothing except that my feet were
expressing the poetry of my soul.
My body seemed to be composed OF
a kind of rarifed air that swayed
here and there like a summer breeze.
Slowly bending and rising again
as though my limbs. were but follow
ing the reckoning of my partners
subconscious thought, l bowed and
swayed.
AS a personality. Melville Sartoris
was something d~isembodied. ] felt
the most careessing arms about me,
but they belonged to no real nan
Copyright, 1925. NEA Service, Inc)
TOMORROW-This letter contin-
ued.