Evening Star Newspaper, October 13, 1927, Page 13

W flected in an 4 New Bond Issues FINANCIATL » TREND UNCERTAIN ONCURB EXCHANGE Specialties Attract Attention. Anglo-Chilean Nitrate Is One Feature. BY WILLIAM F. HEFFERNAN, Speeial Dispatch to The Star. NEW YORK, October 13.—It was difficult to detect a definite trend to the price movement on the Curb Ex- change today. Prices backed and filled throughout "the greater part of the session, with changes confined for the mobst part to fractions. There the usual sharp fluctuations in indus- trial specialties and these absorbed the attention of the speculative ele- mént. It was evident that the market was becoming more and more a spe- ciaity affair, devoid of interest for the developments in issues which pushed for reasor taining to the companies themsely Anglo-Chilean attention at a noints. creasing demand for Chilean nit and the extensive production program of the Guggenheim intertsts for de- velopment of the nitrate industry in Chile was the chief in buying. Accompanyin, has been a r past few months in nitrate prices. At the prevailing price level consumption s to be running considerably «head of production - The successful flotation of the new preferred stock of the New Yor! Haven & Hartford Railvoad advance into new ground for the shares, dealt in on a ssued basis here. Avound 112 the price compared with the last pre. e of 110%. Plans by bankers who recently ob. tained control of the Johns Manville Co. fcr making it the largest company | of its kind, appeared to be back of the continued demand for the stock. | Large blocks were taken above 121, after which the price crossed 122 for a gain of 2 points. Acquisition of sev- eral companies is said to be under con- sideration and Congoleum and General Refractories are mentioned as figur- ing if the negotiations. Despite the official warning put out last week that speculation for the risa in Banecitaly shares had reached the stage where it was likely to be overdone, the demand continued today, |. carrying the y)rl(-e up almost 2 poin from Tuesday's final. Borden & . continued higher on prospects of a consolidation with Reid Ice Cream Co. Prairie Pipe Line and Imperial Oil of C..nda, were most prominent in their group, while other issues were neglected or inclined ' toward lower Jevels. Public utilities lost their place of prominence, but there was no pro- nourced weakness, Attempts to bring about higher prices for American Gas & Electric were successtul but | failed to influence buying in others| of the group. NEW YORK, October 13.—A bank- In; group made up of Dillon, Read & Co., National City Co., Lee Higgin- son Co., Blair & Co,, Inc., Henry Schroeder Banking Corporatioi, Vhite, Weld & Co., Kissel, Kinnicutt & Co., lAdenbul"B. Thalman & International Acceptance Bank, Inc., contlnwl & Commercial Co., Ilinois ts Trust Co., Union Trust Co. ere | * Received by Private Wire Following is the list of bonds and stocks traded in on the New York Curb Market today: INDUSTRIALS. i Pick Bar A of Alum Co o pi Am Arch Co kA Sales in hundreds Al R S 1Bucyrus - Erie 1 Budd, Mg eshman ulton ~\|mmn pid 2 Prod A Hall Prangi !H»m- exs R 1H 1 Inter Pigar M i o Intern Ul B . o+ 801, 435 1 MacAndr & F Mare Wire, M R b »t Mohawk Hud Pow o k] NEW YORK CURB MARKET Direct to The Star Office 1Gon G Bal 5% 107 1 Gone Tex G &f‘“h\ PRTEN 1 10015 1004 a1y 100% 10974 100 cphmer nterst Pow os. 11 Interst Pow s 09 4 Kemsley Mill 1 s |‘||:‘ 1 13 Midwest € 1 Milwau G~ 41an 4 Yount lm\, s A e v 10015 5 0Ohio Riv T 0o T ¥ e A 101 3 P "Rap "t . Pailips Pet Pure Oil Copue Rem Ran 510¢" A 8 x oo BeL A 104 ) Stnd Tnsert, Bs 107 2 S Mk Ra 814w R 4 Sun 01l Slys ... 1001 & 0o 5 1000 111 10014 Sales in thousands. FOREIGN 10 Adrigtic 5Ag M Bk 1 1348 M Bk 78 % M B C s wi 41 fnden i 36 Batavia' I 28 Brazil 6las n 18 Buenos A BONDS. 0470 2815 g.ufi.— SEEEEREES R Py Tt Feny 3 Barke Davis Co 2 Penn Oh E 5 Szazuy FREZLEGRER RaTemen=Spuns Penn Ohio E Penn Selt . n Drig ) o ?3‘ 53 gemez FEE FPE ) FSE-RERIRRREE: b raon g B e B _"5 £ “dgxa v EEbi 33 > ok} 3323&:‘:2; :;m - am S o R o 53::3’ gfansEed ok & Lamb | Assn lklynm ngton _Avms 13% 25 o lmxmd), Hemphili, Noyes & Co., s & e Webher & Co. 15, 1957, 4 92 to yield over 7. A new issue i priced at 983 to cent, is being m-flm Drexel & Co., Brown Hros. GCO‘. and Harris, Forbes & Co. Harrls Forbes & Co., Brown Bron. & Co., Equitable Trust Co. YW York Trust Co., Mendelssohn & Co.' (Am- sterdam) Interpational Aceptance Bank, Inc., and J. Henry Schroeder Banking Corporation offer today a new issue of $30,000,000 Free State of Prussia 6 per cent sinking gold bonds. due October 15, 1952, The bonds are priced at 96% to yield about 6.28 per § cent 5 IS GEBKAN BONDS AND STOCKS. Offering is belnx made today of the 1ssue of $6,000,000 State of Illinois 4 per cent gold bonds maturing May 1, 1945, to 1956, at prices to yield 3,875 per cent by a syndicate comprised of First Na- tioral Bank, Halsey, Stuart & Co., Hal- garten & Co., White Weld & Co,, Red- mond & Co., Kissel, Kinnicutt & Co,, Pn‘lpl Fenn & Co.. R. W. Pressprich Salmon Bros., and Hutzier & Glblfl Leefe & Co., Inc. The Foreman Trust & Savings Bank, A. G. Becker & Co., Mitchell Hutchins & Co., and the Union Trust Co., of Chicago, are offering at par and in- terest $6,000,000 first (closed) mortgage ' per cent serial gold bonds of the Edgewater Beach Apartments, Chi- cago, due October, 1931-1943, inclusive. * FORD ROAD GETS HALF OF TIME FOR NEW WORK Extension of Two Years Is Allowed Detroit, Toledo & Ironton for Line Construction. By the Associated Press, Only half of a time extension sought by Henry Ford's railroad, the Detroit, Toledo & Ironton, to com- plete new construction was granted today by the Interstate L'omrnerce Commission. The road, which has undertaken to build a new line from Durban, Mich., to Malinta, Qhio, petitioned the com- mission recently to fix the date of December 31, 1931, for completion of the work, explaining that a number of obstacles had been encountered in abtaining rights to cross rivers and existing railroads, The commission today comment, fixed December for the iermination of which amounts to an extension two years over the time originally set. without 31, 19 By Special Leased Wire to The Star. NEW YORK, October 13. Bid. ) Asked 60.00 65.00 of | g § A 8 ':%-5 - FEREEE = T 3E, igig G ik o 2D 2 "E al SiieS Siomst S LSRR R oS Eiw BEERSasE: S e i il o 2, & PREEESRRE BOR @ SRR SRRRRRREE SRR S @ et e FEFOFTRE SESTTE s Best S s 1D 2o Bt 25 b [ N—” - PSP et i 2 1S3 SESIR.LER22E3 Gisisis 1o Seminem BESE sl R ey FESE SERERRE OF R r Goi g 3 g-: iden State FEEERRR R R R 1 b 19 s ReBeSZaiomnRaliBRie R Bun B, ) FERR . Wende 5 100 Went Bod Bt Sales INDEPENDENT OIL STOCKS. i hundreds, 79 Am Con oliids. . 04 .92 } grivAm ot 3] 31 Carib 20% 19 B1 94 8 BB S S ouerm BB s o] 10 S @ Somwd RowRRREm D3 - -, 23,525,.2, 528 =SSR R0 Ran 82 FRRRRE 5 VRERRR FRRSR. PR BIER R RRE E8:s! MR 22023 PR PERE FE PARR i FRREE R g T izt Wi EaEiRalomsoaiianE Sax! PRRPEIER TEIEE 1 3 New Bradford o 3 1 New Mex I Pandem Oil . l PB"I’DN‘ 0il 1 RelterFouter il 3 Ryan C ou isis 1o EasERalnmsaiEan EaSEEoliome on SRS 19 sz 13 P 19w ., Saten in STANDARD Of 100 Anglo Am Oil. 100 At Lobos 100 Buckeye P 1700 Cont’l” Oil 1. SSUES, 18 $ % Bé 6 i r“‘ FEINEEBEARIIZ-5 © < ¥ s FRERER ZSESIIZ50mn EeaRImo ) wT T3 = &R S 33823 o835 ERaos §§: BEFIE SFTEREETE Deutsche Bank. Dirmstaedier lan “'Q‘,’L'fi? Bank Vienn s n..i Tia 90 16:00 1.00 ool et 2o SERER ssEzezetustss FIRET & TIERETIE B FEREE PR 2 25 .» Szs e ) P R el [ UL o S Bl Tz e S B ! 6 1007 1001 Gni ummn ol o Nethe B1 v 19 o 5 s 325253 £3233 - 23 oy 3223338 3322233335505552 SERRFEREER & AR FOEARRRTE & i3 3332 W SRR — SILVER QUOTATIONS. NEW YORK, October 13 (#).—Bar silver, 55%; Mexican dollars, 42%. Wall Street Briefs EXCHANGE SEATS.—Wall street observers take the view that fthe con- stant rise in tha value of Stock Ex- change membership which has just reached $250,000, will continue just as long as the volume of business on the exchange expands at its present rate. Transactions thus far this year have averaged 1,826,570 shares daily, com- pared with 1,546,855 daily for the full year 1926, and 1,541,519 shares dafly for 1925. 'Transactions in bonds also have mounted, mainatining about the same proportion of growth shown by stocks. + BUILDING PERMITS.—Bullding permits issued in 468 cities in Septem- ber were 2,028,222, a loss of slightly more thafl 10 per cent, compared with September, 1926, a report by 8. W, Straus & Co. shows. The same cities authorized $2,940,997,198 for the nine months of 1927, a loss also of more than 10 per cent. INSURE INSTALLMENT SALES.— A system whereby life insurance acts as a safeguard for all installment sales has been successfully applied in Great Britain, the Bankers' Trust Co, of New York reports. One of the essentials of instaliment—or as it is called in ‘England, hire-purchase transactions— -|is that the seller shall retain an inter- est in the goods until they are finally paid for. Meantime, it the goods are destroyed by fire or some other acci- dent, both seller and buyer are covered by the insurance on the goods. To al- leviate fear of any buyer that he may not survive to complete his contract, thus leaving others to pay for what he has bought, many British firms are now taking out life insurance policies on the lives of all their installment purchasers and giving these free to their customers. Baltimore Markets. BALTIMORE, October 13 (Special) —White potatoes, bushel, 1.00a1,25; barrel, 1.50a3,25; sweet potatoes, bush- 1,75a2.50; yams, barrel, 1.75a: bee 5. 3.00a4.00; celery, crate, 1.25a2.0 dozen, 15a30; cucumbers, bushel, .25; caulifiower, crate, 1.25a1.75; egg- plant, basket, 24a30: kale, bushel, 25a 35; lettuce, crate, 2.00a: bagket, 50a90; onions, 100 pounds, 1.00a 1.76; peppers, basket, 25a35; spinach, bushel. 30a50; savoy cabbage, bushel, '40a50; tomatoes, basket, 25a50; pack- ing stock, bushel, 45a50. Aples, basket, 25a75; barrel, 2.50a 6.00; cantaloupes, crate, 1.00a1.50; grapes, basket, 15a20; damsons, bush: el, 2.50n2 eaches, bushel, 2.603.00; pears, s . 1.25a3,00; quinces, bush- el, 1.00a2.00. Dairy Farm Produets. Live poultry — Spring _chickens, pound, 26a28; Leghorns, 25a26; poor and thin. 20; old hens, 23a2s; Leg- 17 old roosters, 15al! small and poor, 17a18; ; pigeons, 20a80; guinea fowl, each, 75, . Eggs—Receipts, 2,214 cases; native and nearhy current receipts, in free :‘Dul dozen, 38; strictly fresh, dozen, Butter—Good to fancy crnmary pound, 44a49; prints, 49a51; blocks, 48a 50; ladlos, 36a38; rolls, 33a85; store NEW FORD ORDERS PLACED AT 373,000 {Plans for Capacity Output Made by Company—As- sembly Soon to Start. BY J. . ROYLE. Special Dispateh to The Star. NEW YORK, October 13.—One per- son in every thousand living in the United States has placed an order for one of the new Ford cars, accom- panied by sizable deposits as an evi- dence of good faith. The sales depart- ment of the company has orders ac- companied by deposits for 125,000 ve- kicles, which have not yet been put in production. These ‘orders have come in from authorized Ford dealers. Approximately ,000 additiongl buyers have placed orders but have not accompanieds them by cash pay- ments in advance, These orders are not being listed as nssured sales, But they serve to indicate there will be ready damand for the first few hun- dred thousand of the new cars at least. Preparations for production on a full capacity basis are proceeding rapidly at the Ford Detrolt plants, accotding to company officials. The factories have bean turning out major parts for some weeks and in a few days more the famous Kord assembly line will be in operation. The assembly of new hodies has been under way for sev- eral day Engine blocks, axles, wheels, pistons, crank shafts and other major parts now are coming to the assembling room line in preparation for the start. Capadity Increased, Capacity of the Ford Detroit plants, hoth for the manufacture of parts and the assembling of cars, has been greatly increased since suspension of the manufacture of the old model T early in the Summer. The assembly plant at Highland Park has been moved to River Rouge, and its ca- pacity just about doubled. The High- land Park plant will be devoted to manufacture of bodies and parts. The greatest single day’s production ever recorded at the Ford works was achieved about two years ago when a fetv more than 8,000 cars rolled off the assembling line in 24 hours. At that time, however, equipment was far less extensive than it is today, and Ford engineers are confident this rec- ord will be surpassed hefore the new car has been in production very long. Ford plants have continued in re- cent months to manufacture a_large number of replacement parts for the old model T cars, and have shipped them all over the world. It is esti- mated a million of these cars still are in-use. Ford officials estimate that for several years about a third of the plant operations at Detroit will have to be devoted to making parts which will keep these cars running. At present there are ahout 65,000 to 70,000 men employed in the Detroit factories, Company officials say these men are making more money than were the 90,000 who were on the pay rolls at the peak of the model T movement. Ex- ecutives believe that more men will he required for the new production than were needed for the old plants, but the amount, of manual labor per car will be lessened considerably. Cost of. Extension, Estimates of the cost of the plant extension and other changes in prep- aration for the production of the new madel range from $75,000,000 to $100,- 000,000. Ford officials admit that more than $15,000,000 has been spent for new machinery alone. ‘What is the Ford output going to do to the other producers? The ques- tion has as many answers as it has askers. However, it is quite evident that General Motors officials are con- fident that company will hold its own. This is indicated by the fact that it is starting construction immediately on the new Chevrolet assembly plant at Atlanta, which- will serve a section where the Ford car for years ruled supreme. The new plant will cost $2,250,000. The car capacity will be 350 a day, and the payroll will exceed $8,000 daily. The economic effects of the struggle among the various big and small auto- mobile concerns will be of the most far-reaching character, Railroad freight generated by the automotive Industry this yvear will amount to some 3,300,000 carloads. Nearly 3,375,000 people are directly employed in the in- dustry and nearly 400,000 others in- directly employed. This year automo- bile owners will pay more than $430,- 000,000 in insurance premiums. NEW YORK MARKETS. NEW YORK, October 13 (#).—Rye easy; No. 2 Western, 1.07 £, 0. b. New York and 1.05% c.if. export. Barley easy; malting, 90% c. 1. f. New York. Lard, easy; Middle West, 13.10a13.20. Tlllows.%flrmer‘ speclal loose, 85; ex- tra, ‘Wheat futures opened steady; domestic December, 1.31% ked, Other articles unchanged. GENERAL ELECTRIC ORDERS. NEW YORK, October 13 (#).— Bookings ot General Electric Co. for nine months this year . were $233,- 076,091, compared with $246,993,637 in the same period of 1926, Third-quar- ter hookings fell to $77,420,263 from $81,587,917 a year ago. EATON AXLE PROFIT. NEW YORK, October 13 (#)— Profit of Eaton Axle and Spring Co. for nine months of 1927 declined to $742,237 from $927,773 in the corre- sponding 1926 period. AT COTTON GOODS QUIET. NEW YORK, October 13 (Special). —Cotton goods markets were quiet today as print cloth prices were marked up %. The standard 64x60 print cloths were quoted at 8% and the 68x72s at 9%. Raw silks were unchanged in a dull market. COAL PRICES LOWER. NEW YORK, October 18 (#).—Coal prices are lower in the Pittsburgh dis- trict. Domestic grades are off 25 to 50 cents a ton. Slack is down 15 cents a ton, steam slack being quoted at 90 cents to $1 a ton. Business Opportunity Advertisements All advertisements for the classification of Business Opportunities are subject to l;xvesu'ntlon before publica- tion. In the case of blind ad- vertisements (those contain- ing for address Star Office box, Post Office box) or others, when deemed advis- able, references are required. One bank and two reputable business men or firms pre- fe A blank form is avallable (of this purpose at Star Office. In ordor to allow sufficient time for investigation, such advertisements the Sun. day Star cannot be accepted after 11 p.m, Th vert! packed, 33; dairy prints, 33a35; process TICKER FOR NORTHWEST PACIFIC COAST PLANNED NEW YORK, October 13 (#).—The Western Union Telegraph Co. is com- pleting plans for extension of its ticker service on New York Stock Exchange stocks o Seattle, Portland and Tacoma. It is expected that within a few months the installation of neces- sary equipment will be complete and gervice begun to the Pacific North- W l' A. Peirce & Co,, one of the largest vire houses, has underwritten the npr\'k’e hy guaranteeing the telegraph company against loss for a stated period. COTTON STEADIER AFTER EARLY DROP Hedging and Weather Are Bearish Factors in To- day’s Market. By the Associated Press, NEW YORK, October 13.—The cot- ton market opened easy today at a decline of 7 to 11 points under selling which appeared to include considerable hedging by the South and liquidation by some of Tuesday's buyers who may have been influenced by indica- tions that the cold wave over the holiday had not been accompanied by killing frosts in the Southwest. December eased off to 20.45 and March to 20, net declines of 12 to 19 points under initial offerings, but buying on the forecast for light frosts in the Carolinas, Georgia and Ala- bama helped (o steady the market around these prices. At the end of the first hour the market was back to about Tuesday's closing quotatjons on covering, There also appeared to be some trade buying. Buying became more active after early offerings had been - absorbed. ‘There was further trade buying and covering by sellers of last week who seemed to take a more unfavorable view of the weather news than had been reflected at the opening. December advanced to 20.80, not gains of 14 to 17 points on active wonths, but demand tapered -off at these figures, with reactions of 10 or 12 points from the best under realizing. The midday fharket was within 5 or 6 points of last Tuesday’s closing quotation CUSTOMER OWNERSHIP OF UTILITIES IS LAUDED Special Dispatch to The Star. BALTIMORE, October 13.—In com- menting on the advantages of cus- tomer ownership among utility com- panies, Herbert A. Wagner, president of the ConsolidatedGas, Electric Light & Power Co. of Baltimore, in a state- ment read before the convention of the American Gas Association at Chi- cago, said: ““The ownership of stock is a util- ity company by customers being served by that utility has been so generally advocated and encouraged within the last few years that its ad- vantages both to the investor and to the utility would seem to be no longer a matter requiring discussion. Per- sonally, I am a firm believer in this means of bringing about the most co- operative and efficlent form of public ownership of public utilities. It is the best means so far devised to assure a square deal alike to the public and the utility company and to create and maintain a spirit of mutual confidence and understanding between the people and the men responsible for the opera- tion of the public service.” o COPPER PRODUCTION. NEW YORK, October 13 (#).—Sep- tember production of refined copper in North and South America is put at 119,110 short tons by the American Bureau of Metal Statisties, against 119,786 yin August. Shipments were 126,261 “tons, against 130,520. Stock on hand September 30 'declined to 86,493 tons from 93,654 at the end of August. Primary copper production by mines in the United States and other supply to United States smelters was 65,936 tons, against 67,248 in August. Per Capita Debt Smallest. Colombia, which now has the small- est ratio of per capita debt to per capitaswealth in South Anierica, has accomplished a most pronounced re- duction of its debt in the last five years, the decline amcunting to no less than 66.34 per cent. Department-. al loans are not included in this esti- mate, . TREASURY CERTIFICATES. (Revorted by J. & W. Selixmag d Co.) Rate—M “'i'" H 3 Offer. 150 732 100 9-: -32 09 31-32 100 1. ’iozv CAPITAL, SURPLUS and UNDIVIDED PROFITS, $6,939,636.37 3% ON SAVINGS MAIN OFFICE amumsw b W.U. ACADENIC UNITS REARRANGED Reorganization Is Effected at Meeting of Boargd of Trustees. A complete reorganization of the ncademic departments of George Washington University took place at the stated meeting of the board of trustees in Corcoran Hall yesterday afternoon. The department of arts and sciences was _separated into schools, to be headed by the incum- bent deans, with varlous professors, associate professors and assistant pro® fessors in charge of the academic units. Announcement of the changes was made by Dr. John B. Larner, pre dent of the hoard. They are the re- sult of weeks of planning by Dr. Cloyd Heck Mxr\ln new president of the university. ' They will go into effect at once. Dr. Hodgkins Retains Position. Dr. Howard L. Hodgkins will re- main in the capacity of dean. Dr. Henry Grattan Doyle will be dean of men, a position only recently created, and Dr. Anna L. Rose will be dean of women, There are now eight separate but corelated units of the university. Columbian College, to be headed by Dean William Allen Wilbur, will con- tinue to he known as Columbian - lege. The School of Graduate Studies will be known as the Graduate School and will be headed hy Dean George Neely Henning. Teachers’ College will be known as the School of Educa- tion and will be headed by Dean Wil-| tiam C. Ruediger. The College of | Engineering _will be known as the | School of Engineering and will be headed by Dean John Lapham. The Law School will remain the same, with | Dean William C. Van Vieck as its head. ‘ The Medical School will be known as the School of Medicine. Dr. Wil- liam Cline Borden is the dean. 'The | College of Pharmacy will be known as the School of Pharmacy, with Dean Lewis T. Bradley at its head. The Summer sessions, popularly known as | the Summer School, will be known as the Summer usslon‘ with Prof. Elmer Louis Kayser as director, and the dgpartment of library sclence will be- | come a separate school, to be known | as the Division of Llhmrv Science, with Prof. Alfred ¥. W. Schmidt as | its director, | Chairmen Appointed. i The university departments, as the various scaools will be known, will have acting chairmen as follows: Bacteriology, ‘Dr. Oscar B. Hunter; | botany, Prof. Robert F. Griggs; chem- | istry, Prof. Colin M. Mackall; classical | Janguages, Prof. Charles $. Smith; | commerce, Prof. John Donaldson; eco- | nomics, Prof. Robert R. Kern; English, Prof. Dewitt -C. Croissant; geology. | Prof. R. 8. Bassler; German, Prof. Edward H. Sehrt; history, Prof. George N. Churchill; mathematics, Prot. John T. Erwin; physics, Prof. T. B. Brown; political science, Prof. Charles E. Hill; psychology, Associate Prof. Fred A. Moss; romance lan- guages, Assistant Prof. M. E. Protz- man; zoology, Prof. Paul Bartsch; department of education, Associate Prof. J. Orrin Powers; home econom- ics, Minna C. Denton; department of architecture, Prof. Norris I. Crandali; department of civil engineering, Prof. | Frank A. Hitcheock; department of electrical engineering, Assistant Prof. Norman B. Ames, and department of mechanical _engineering, Associate Prof. J. H. Platt. Under the old regime and for many years past the department of arts and sélences embraced all of the vari- ous colleges with the exception of the Law Schoul and the Medical School. VIRGINIAN DROWNED AT FLOODED BRIDGE Horse Swept hm Submerged Structure Over Shenandoah River Near Luray. Special Dispatch to The Star. LURAY, Va., October 13.—Mayberry Sedwick,.70 yvears old, was drowned in the Shenandoah River near Bixlers Ferry, five miles northwest of here, at noon today when his horse was swept by high water from a concrete bridge across which he was riding. The horse Member American Bankers’ Association 15th St. and Penna. Ave. escaped. Sedwick was a brother of former Sherif N. T. Sedwick and a well known farmer. He leaves besides his widow, six daughters and two sons, The accident was the first resulting from last night's heavy rainstorm. D. C. TAXI OWNERS MAKE GOMPLAINT Discrimination Charged. in Protest Filed With Com- missioner Dougherty. Charges that taxicab drivers affili- | ated with the Independent Taxi| Owners' Associatin are discriminated | against in the use of the streets and around certain hotels and that they are persecuted by the police were made to Commissioner Proctor L. Dougherty today by Alfred D. Smith, attorney for the organization. Smith's aceusations were contained in a letter which also resented the method of the Commissioners in handling the taxicab situation in the District. He cited one case in which an independent driver was arrested for operating in a so-called restrictgd zone, “Apparently an appeal by a tax- payer to your hody does not get very far unless we can use a club of some sort to impress upon you that we are simply .asking for justice at your hands,” said Smith’s communication. “Why are Yellow, and Black and White, . cabs_allowed a monopoly at certain hotel stands? ed stands for the general use of publie hackers? “Why are police officers permitied te persecute drivers of our cabs?” Smith said that it was the desire of his chents that these questions be answered, “in a fair, frank and open ter,” and not “the “usual formal stereotyped letter signed by y retary which does not mean whatsoever,” ety WOOL PRICES FIRM. BOSTON, October 13 (Special).—Trad- ing was marked by moderate activity today in Boston wool market. with prices firm. Among the trade the feel- ing is general that prospects are ex- llent for a steady market for the next few months. and many dealers Inok for a strengthening of prices all along “the line. Fine territory was auoted today at 1.10a1.15 clean basis: French combing. at 1.05a1.08; half «hree-eighths blood, and quarter blood at 82as5. Fine Ohio grade fleeces were quoted ' at 46a47 grease basis: half hlood at 16 and three-eighths blood and quarter at 45a46. D TR LSRRI RUBBER DECLINES. NEW YORK, October 13 (Special). —Crude rubber, smoked ribbed sheets declined % cent at today's noon quo- tation of 337%. This compares with 34 a_month ago and 42'¢ a vear age. = S REAL ESTATE LOANS 52 % FRED T. NESBIT “Why is it that your board will not create a sufficient number of protect- 1010 Vermont Ave. Main 9392 Capital Mew York WE HAVE PREPARED AN ANALYSIS OF International Telephone and Telégraph Corp. Copies may be bad upon request EDWARD B. SMITH & CO. Members New York; Philadelphia and Boston Stock Exchanges 1508 H St., N. W. Washington Philadelphia Stock FIRST of the Over a Third of a This Century Without a Loss Main 2100 THERE"™ Damage from the storm in this section was slight. MERICAN SECURIT S AND TRUST COM CONDENSED STATEMENT OF CONDITION AT THE CLOSE OF BUSINESS OCTOBER 10, 1927, RESOURCES Cash on Hand and Due From Banks......... U. S. Government Bonds and Notes. .$3,635,560.73 298, State and Municipal Bo.ids. e Other Securities ... . Loans and Discounts.........o.... Cierks’ Pension Fund Investment. . Customers’ Liability Under Letters of Credit. . Accured Interest Receivable.................. ABSOLUTELY SAFE— REMUNERATIVE - Such is the offer and assurance presented by our 6% FIRST MORTGAGES experienced investors demand. Small and occasional investors should not be satisfied with less. Anticipation “of ' profit without due regard for safety is the forerunner of possible loss. B. F. SAUL CO. IS NO SUBSTITUTE FOR . SAFETY MORTGAGES REGULARLY investment opportunity is what conservative, 925 15th St. N.W. $5,445,395.41 ,993.94 10,813,241.08 19,538/455.11 50,000.00 203,908.22 245,293.47 Banking Houses, Vaults, Furniture and Fixtures and Real Estate Owned Other Resources ........... Total RESOUICES +.vivurrnrenennnsasens..$38,139,53391 Su Clerkl Penlion Fund and Interest Thereon. l"“ for Interest, Taxes, Expenses, etc. * ‘ M and Kfsu.’&w us Undivided Profits , LIABILITIES M& W!llflflng 1,760.960.48 8227114 . ERDICED SUOGME i (v o5 oo mp s itoniass vonaoian s, S3400,000:00 3,000,000.00 539,636.37 $6,939,636.37 30,842,276.65 55,793.00 97.919.67 20390822