Evening Star Newspaper, November 1, 1927, Page 14

14 ® "FIN STOCKS SELL OFF IN LATE DEALINGS Belling Centers on General Motors—Tobaccos Strength Is Feature. BY GEORGE T. HUGHES. $pecial Dispatch to The Star. NEW YORK, November 1.—Heavy alizing in the last quarter of an our of today’s stock market session rried prices down rather sharply. Up to that time the market had been Imost uniformly strong. The late selling affected especially Beneral Motors, which showed a loss n the day at the close. Other fea- [\:res at the end were the strength the tobacco stocks and the weak- bess in Mack Trucks. The most reassuring thing about to- g’ay's trading was the recovery in nited States Steel. It was the sensi- fiveness of Steel that had made the vhole market look so doubtful all hrough the liquidating movement of iday and Saturday, and the fact at Steel was so much slower to re- jover than General Motors yesterday vas widely commented upon. Today. towever, all that was changed and Steel led the way instead of General Motors, and that, too, without any thange in the trade position. Block Off the Market. One report had it that a large block ) Steel, which had been overhang- ng the market, had been cared for. Che only published news was the ftatement in behalf of the du Ponts to the effect that the corporation had jeen neither a buyer nor a seller of §teel since its original investment com- nitment. It was added that in view of e attitude of the favorable trade jommission the holdings of the com- sany would not be increased. Another encouraging feature today ANCIAL. Open. High Low Abitibl Pow (5). 129% 131 Abrahm&Straus 104 105 101 Adams Exp (6). 170 172 170 Adv Rumley.... 9 9 Ahumada Lead. 3% Alr Reductn(17) 174% Ajax Rubber.... 7% Alaska Juneau.. 1% 1% Albany Papr(2 20% 20% Allled Chem (6) 147 145% Allls Chalm (6) . 110% 110% Amal Leather pf 75 7:: Amerada (2).... 29% 29 Am Agricul Chm 107 Am Agri Ch pf.. 38% Am Bk N pf (3). 59% Am Beet Sug ... 16 Am Beet Sug pf. 384 Am Bosch...... 22W Am Br Sh (J1.60) 38 Am B Shoe pf(7) Am Brown Bov. Am Brown Bo pf Am Can (2) e 174% T Am Chicle (3).. Am Drug (80c).. Am Express (6). Am & For Pow. . Am&Fo Po pf (73 Am Hide & Lea. Am Hide & L pf. Am Ho P (240). American Ice(2) Am Internatl(2) Am Linseed pf.. Am Locomot (8) Am Loco pf(7).. Am Machine (2) AmMa&Fy pt(7) Am Radiator (5) Am Ry Exp (6). Am Republic.... Am SafetyR(13) Am Seating (14) Am Shipbldg (8) Am Ship & Comn. 3 Am Smelting (8) 161 AmS & R pf(7). 130% Am Snuff (12).. 136 was the improvement in the high- de raflroad shares. Chesapeake & E;l‘lo stood out with a gain of over 3 points. Atchison was higher and so »as New York Central and Urion Pa- tific. The inference was that these ftocks were no longer under the pres- ture of sales by speculators forced to rotect holdings in other parts of the st. Most of the oils did better today. An ixception was Atlantic Refining, which yas afiected by the third quarter statement showing net for the com- mon stock of only $1.97 a share 1gainst $4.93 a share in the same pe- tiod a year ago. Marland & Phillips, towever, advanced and so did the ‘peculative favorites, General Asphalt ind Houston Oil. Producers and Re- Iners staged an independent recovery. Radio One of Features. Features among the industrials in- tluded Radio, at the best since 1925 s it touched 77, and American Ex- Am Stl Fdys (3). 46% Am Sugar (6)... T2 Am Sugar pf (7) 107 Am Sumatra.... 61% 62% 61% Am Tel & Tel (9: 174% 174% 17444 Am Tobacco (8). 165% 165% 16314 AmTobaccoB(8) 165% 1654 163% Am Tobac pf (6) 115% 115% 115% Am Type pf (7). 112} 112% 112% Am W W (m80c) 6215 63% 62 AmWWks pf(6) 100 100 Am Woalen. 21% 21% 21% Am Woolenpf.. 52 52 5l Am Writ Pactfs 21% 21% 21l Am Zinc. . 6 06 e Am Zinc pt. 38% 38% 38 Anaconda (3)... 45% d45% 45% Arch-Dan pf (7) 111% 1114 111% ArmourDelpf(7) 83 834 824 Armouroflil(A) 10% 10% 10 Armourofill(B) 6% 6k Armour Il pf(7) 63% 634 Arnold Con&Co.. 85 35 35 AssoDry G (2%) 46% 46% 46% Asso DG st (6) 108% 108% 108% 10 110 110 Asso DG 24 (7). 181% 183% 181% 6 63% ress, which added materially to its -point jump of the day before. Op- dmistic predictions were in circulation ¥s to the showing Radio would make for the full year. There was talk also M merger developments. Rossia In- jurance went through its now cus- omary rapid fluctuations, American Machine and Foundry went to another tew high above 166. There were exceptions to the trend, sne of them being the rubber stocks, vhich were adversely influenced by /e cutting of prices on tires by one jroducer. American Sugar rallied from its precipitate drop in the last fve minutes of yesterday’s trading. But sentiment toward the sugar thares was not improved. White Motors was the weak member of the tutomobile group. Washington Stock Exchange sALES. vital Traction Co.—10 at 109. gkfl-flc pid. fl“l—g at 106%. 5 0613 1 it 106% . M-Am&iw “National Bank—t at Columbi Gravel pfd—10 at 103. OAT:F&J AL CR g (B a ;o”-'«ufi"fil. Mige. & Inv. DId.—50 at B%. AFTER CALL. i Fpsbincton Gas Light—30 at 81%. 10 Norfolk & Washington Steamboat Co.—9 298, Washington Rwy. & Elec. p1d.—S5 at 99% Mergenthaler Linotype—20 at 111%. 2 Too m 16430 —20 st 100%. 7 at 00 8t 102%- at 105%" Money—Call loans. 5 and 6 per cent. BONDS. Bid and Asked Prices. i bt s BRI R e B3R P 2 & Joint. Stoe’ L * Joine. Stoe uhoill t; & Cold Stor. b6 Wardman Park Hotel 5%s otomae E : Wosh. Rwy. & Eecl. com. Wash. Rwy & Elec. pfd.. " NATIONAL BANK. ational Capital. bia armers ‘& Mech: Frderal-American cond cosra National Bank' ot Was} TRUST COMPANY. Amer. Security & Trust Co.. 454 Continental .- 13 Savings & Trust. Trion Truat.... .. Wash. Loan & ‘Trist SAVINGS BANK. Bank of Bethesda. Commerce & Savings Eanl ‘Washington. TITLE INSU E’h mh\:l'z“ !iu . ol L {tlo Inv. Co. of Md. com MISCELLANFOUS. Barber & Tne., com... 35 Ch iy ) 105 Eommesctat at. Co, pid 108 Atchison (110).. Atchison pf (5). 102% 102% 102% AtICL (18%).. 1824 184 1824 AUGUIf& WI.. 34 34% 2334 At Gulf&WI1pf. 334 33% 33 Atl Refining (4). 114% 115% 114% Atlas Pow pf (6) 103% 103% 103% Austin-Nichols.. 5% 5% 5% Autostrap A (3). 43% 44 43n 254 254 254 Baldwin L (7). Balto& O (6)... 116 116% 116 Bambgr pr(6%). 109% 109% 109% Bang & Ar (3%). 67% 68 Bang & Ar pf(7) 110% 111 Barnet Leather. 46 46 Barnsdl A(bz3g) 22% 2% Bayuk Cigars... 91 91 Bayuk 18t pf (7) 107 107 107 Beech-Nut (13). 64% 64% 64% Beiding Bros (2) 21 21% 21% Best & Co (3) 53 63 524 Bethlehem Steel 50% 50% 49% 115% 115% 115% 38 38 38l Blumenthal pf.. 83 83 83 Briggs Mfg Co.. 20% 21% 20% Bkin-Edison (8) 173% 175 173% Bklyn-Man (4).. 55% 56% b5% Bklyn Un Gas(5) 126 126% 124% Brown Shoe (2). 46% 47 45 Brunswick B (3) 33% -33% 33% Buff Roch&P (4) 80 80 80 Burns Bros (B). 18% 18% 18% Burroughs Ad(4) 127% 127% 1274 Bush Term (b8). 65 65 64% Bush Ter de (7). 104% 105% 1044 Butte&Super (2) 8 8 Byer & Co....... Byer & Co of (7) By-Products (2). Calif Packg (4). Calif Petm (1).. Callahan Zine. .. Calumet & Ar (6) Caiu & Hecla (2) Can Dry (t3%).. Can Pacific (10). Can Pac 1st pd.. Car CI&O sta (5) CaseThreshg(6) Cent Alloy (2). 25% 25% 25% Cent Leath..... 2 24 24 Century Rib M... 12% Cerro dePas (15) 5 Certain-Teed (4) Certo Corpn 13% Chase Nat B(18) Chat-Ph Bk(16). Ches & Ohio (10) C & O Corpn (3).. Chi & Alton pf. . Ch! & East Il pt Chi Great West., Chi Gt West pt.., Chi M1l & St P.. Ch{ Mil & StP pt CM &St Pety Chi & Nwn (4).. Chi & Nwn pf(7) Chi Pne Tool (6) Chi Rock Is (5).. CRI&PDpL(6). CRI&PDL (7). Chi Yellow C(4). Childs (32.40).. Chile Co (2%).. Christ! B (1.20). Chrysler Cor (3) Chrysler pfA(8). City Stor A (3%) City Stores (B).. Cluett Peab (5). Cluett Pea pf (7) Coca-Cola (5)... Collins & Alk(4) Collins&A pt (7) Col Fuel & Iron. Col & Southn (3) Col Gas & El (5). Col GEE pf A (6) Col Carbon (4). Com Cred (1) Com In Tr pf 6% Com Solvents(8) Com Powr (2%). Congoleum-Nalr Cong Cgrs(t4%) Con Cigars (7).. Consol Gas (5).. ConsolGas pf(5) 99% 99% 994 ConRRCuba pf 6 68% 69 68% Consol Textile. . 4 3% Cont Bakg A (4) 3 54% 63 Cont Baking B.. 5% 5% Cont Bak pf (8). 3% 93% Cont Can (6) 74 4% 74 Cont Insur (6).. 224% 225 223 Cont Mont (80c). 9% 9% 9 Corn Prod (13).. b58% 59% 58% Coty Ine (5).... 107 107 104% CrucibleSteel (6) 79 81 9 Cuba Cane Sugar 5% Cuba Cane Su pf g88% Cuba Company % Cuban Am 8 (1). 19% Cuban Am pf(7) 97% Cuban Dom Sug. 12 Cudahy Pkg (4). 52% 69% 70 65 65 21% 21% 21% 1% 1% 1w 85% 84% 16% 16% 16% 48% 49% 48% 1874 188% 187% 184% 186 184% 106 106 106 69% 65 208% 205 82% 81 10% 2% 12 27% 15% 28% 14% 88 144 144 128 128 102% 103% 102 102 102 102 108% 108% 108% 44% 44% 44% 55% 55% DA 34 34 33% 5% 65% 65% 527% 53% 5% 112% 112% 112% 51 51 51 52% b3 52% 82 83% 80 124% 124% 124% 120% 120% 118% 931 95% 93 10% T2% 28% 15% 28Y% 14% 89% 88% 88% 88U 107% 107% 107% 9 89 163% 163% 163% 66% 67% 66 23% 23% 22% 67% 68% 66% T6% 6% 76 110% 112% 110% D Mtz pid i Lo sand & Gravel mia. " Federal Storage pfd ederal gemmhmr f Natl_ Mtge. & Inv. ofd. Peonles Drilg Stores pId. Becurity Storage. ... Sanitary Grocery Co. pfd. . Washington llr‘z:l. . V: . com. Cot SILVER QUOTATIONS. NEW YORK, November 1 (#).—Bar iver, 56%; Mexisan dollars, 43%. Curtiss Aero.... 47% CurtisApf (7).. 113 113 113 Cushman’s (§4). 145 148 145 Cuyamel Fruit.. 51% b5l 50 Davison Chem.. "34% 34% 34 Deere&Co pf (7) 123 124 122 Del & FTud (9).. 180% 180% 179% Del L& W (17). 131% 131% 130% DRG Wst pf. 61% 51% 51% Devoe & R(2.40) 39% 384 Diamd Mtch(8). 131 Dodge Bros Cl A Dodge vt (7).... Dome Mines (1). Dupont (19%),. 301 Eastman (18 60 Eaton Axle 2309'% 302% 160 22 Close. 1291 129% | Eisenlohr & Bro. 104 172 9 3% 174% T 1% 265% 268% 165 2 205 8l% 10% 2% 12 28% 15% 28' 14% 88 141 128 159% 169% n j Jewel Tea...... THE EVEfi NG STAR; WASHINGTON, D. €., TUESDAY. NOVEMBER 1. 164, Open 11% El AutoLt (18%) 91's Electric Boat. .. Elec Power & Lt Elec P&Lt pf (7) Elec Refrigeratn End John (5)... Endlicott pt(7).. Engineers Pub S KEquit Bldg (7).. Erie R R. Erfe 1st pt Erfe Stm 8 ) ErieStmScfs 234 Eureka Va ft4% Fed Ligt(h1.40), Fed Min&S(10). F1d Phoenix(4) . Fifth Ave (64c). First NatS(14). Fisk Rubber... . Fisk 1st pt cv(7) Fleischmann (3) Foundation (5). Fox K'ilm A (4). Freept-Tex 14% Gabrilel Sn (3%) Gardner Motor.. Gen Am Tnk(4). Gen Asphalt.... Gen Asph pf (5). Gen Cigars (4) Gen Elec (15)... GenElec sp(6uc) Gen Motors..... Gen Mot pf (7) Gen Outdr Ad( Gen Outdr A (4). Gen Ry Sig (5). Gillette SaR(15) Gimbel Bros.... Gimbl Br pt (7). Glidden Co. Glidden pr pf(9y Gold Dust (3)... Goodrich Ru (4) Goodyear Tire. . Goodyr 1st pf(7) Gothm S H (23%) Gotham new 2% Gould Coupler A Granby Con Min Gre North pf (5) | Gt Nor ptefs(5) Grt Nor O (13%). Grt Wes S(2.80) Green Canan.... Gulf Mo & Nor. Gu M & N pf (6 Gulf States Stes Hacknsk A(1%) Hanna 1st pt. Hollander & Son Houshid P (315) Houston Oil.... . 139% Howe Sound (4). 36% Hud Man (2%).. 54 Hudson Mot (5) 684 Hupp Mot(1.40). 19 11linois Cen (7). 130 Indep O1l (1)... 25 Indfan Mot (1%) 32% Indian Refining. 8 Inland St (2%).. 50% Inspiration Copr 174 InterboroRapl'r 85% Intcontl Rub(1). 11 Internat Agr.... Int Bus Ma (4) Int Cement (4) 55% Int Com Eng (2) 41l Int Harv (§6)... 208 Inter Har pf (7). 134'% IntMtch pf(3.20) Int Mer Marine. . Int Mer Mar pt. Int Nickel (2). Intl Paper (2.40) Int Paper pf (7). Intl Silver...... Intl Silver pf(7) Int Te! & Tel (6) 9 91% 64% 631 103% 189% 124 145 72 23% 120 144 57% Jones Bros Tea. Jones & Lau (7). Jordan Motor. Kan City South Kayser J (4). Kelly-Spring. Kelly Tire 8% pf Kels-Hayes (2). Kennecott C (5). Keystone T & R. Kinney pf (8)... KraftCh (11%) Kresge (1.20)... Kresge SS pf(8) Kress S H (h1).. Lago O1l (75¢).. Lambert Co (16) Lee Tire & Rub. Lehighval(3). Lehn & Fink (3) LifeSav (1.60).. Lig & Myrs(ft4) Lig&MyrsB (£4) Lima Loco (4).. Liq Carb (3.60). Loew’s Inc (2).. 115% 85% 324 90 36% 22 120% LOft.vecosacanns Loose-W1l(1.60) Lorillard Co Louisiana Ot La Oll pf (6%). LoulsGasA(1./(6) 26l Lou!s & Nash(7) 146% Ludlum Steel(2) 20% McCrory (1.60).. 78% McCrory B (1.60) 82 Mack Truck (8) 104% Mad Sp Gar (1). 24 Magma Cop (3).. 47% Mallison & Co... 15% Manat! Sugar. 30 Manati Sugar pf. 48 Man El Sup (5).. 46% Man El m g (d5) 46 Man Shirt (2) 31% Marland Oll..... 34% Mar Rock(13%). 43 Mathieson (4)... 114% May Dept 8 (4). 85 Maytag (12%).. 30% Miami Cop (1)., 14% Mid-Continent.. 26% Mid-Cont pf (7). 103 Middle States... 2 Mid StatesOfict 13 Midland pt (112) 172 Miller Rub.(2)., 24% Minn & St Loufs. 274 MinSt P& SSM. 4l MStP&SSM li(4) 69% Mo Kan & Tex.. 39% Mo K & T pt (6). 104% Missourt Pacific. 51% Missour! Pac pf. 108% Montana Pow (5) 103 MontgmryW(4). 83 Moon Motor. . T Mors&Esk(3%). 86% Mother L (50¢c). Motion Piec Corp. Motor Met (3.60) Motor Wh (2) Mullins Body . Munsingwr (3). Murray Corpn... Nash Motor(15). Nat Acme (sta). Nat Bellas Hess. Nat Biscult(17). Nat Cash I3 (A)3 Nat City Bk (20) Natl Dairy (3) Nat Distiilers. Nat Enamel & S. Nat Lead (5).... Nat Pw&Lt (80¢) Nat Supply (4). Nat Surety (10). Nat Tea (4). Nevada C(1%) - 86% 275 162 154 40% 158% 107% 53 N 85 NY NH & Hart.. 51% NY NH&H pf(7) 110% NY Ont& W (1). 36% NY Steam pf (6) 100'% NY Stm pf A (7) 1104 Niag Lock pf 41% 183% North Am pt (3) NorAm Ed pf(7) North Pac (5)... Nor Pac cfs(6).. 01l Well Sup.... Omnibus. . Opnhm Col (4).. Orpheum Cir (2) Otis Elevator (6) Otis Steel....... Otis Stl prior(7). 69% Outlet Co (4).... 75% Owens Bot (Ct5) 77% Owens B of (7).. 116% Pasitte Gas (2)., 1% 53% 103% 95% 93 32% 136% % High 11% 91% 84ain 531 107 41% 23% Y W 2974 864 65 145% 36% 54y 68 194 130'a 26% 3219 9 51 17% 85% 1% 9 92 56'% 424 209% 134% 4% 38% 64% 65 103% 189% 124 146% 72 24% 120% 14% 59% 115% 86% 32% 85% i3% 91% 361 22 120% 146% 204 8% 82 104% 24% 4T% 15% 30 48 46% 46 32 341 43 114% Bo% 31 14% 2T% 24% 2% 41% 694 40% 10474 52% 1087 103% B3tk % 86% 86% 276 162 16 40% 159% 107% 53 85 51% 1% 36% 100% 110% 114 42 184 537% 103% 95Y% 93% 321 139% T 69% 5% T9% Low Close. 1% 90 16% 25% 134% 134% 83 115 22% 865 275 162 15% 40 158 107% 53 85 50% 110% 35 994 1104 116%, 5 3 83% 4% 15% 40% 158 107% 53 85 50% Pac Oll Stubs. ... Pac Tel & Tel (7) Packard (12.90). Paige Motor. ... Pan-Am Pet (4). Pan-AmPetB(4) Pan-Am West B. Panhandle...... Parmt-Fam (J8) Park & Tilford. . Park Utah (80c) Pathe ixchange Pathe 3x A (4). Patino (a2.10).. Penick & Ford. . PennDix Cmt(2) Penn C & Coke. . Penna R R (314) Peoples Gas (8). Peoples Gas rt Peoria & Bast... Pere Marq (18).. Pere M prior (5). Pere Marq pf(5) Phila Co (k4). PhilaCo5 % pf2% PhilaCo6%pt(3) Phila&RCI... Phila&RC&I cfs. Philip Morris, .. Phillips Pet (3). Pierce-Arrow. .. Plerce Arrow pf. Plllsbury (1.60). Pitts Coal. Pitts Coal pf.... Pitts &W Va(6). Postum (5). Pressed Stl Car., Prod & Refiners. Producers&R pf. Pub Serv NJ (2) Pub S NJ pf (8). Pullmn Corp(4). Punta Aleg Sug. Pure Oil (12)... Purity BakA(3). Purity Bak B (2) PurityBak pf(7) Radlo Corp of A. Radio C pf (3%) Reading (15). RReal Silk Ho: Reid Ice Crm(3). ReidlceCrpf(7). Rem-Rand 11.60. Rep Ir & Stl (4). Reynolds Spngs. Rey Tobac B (5) Rossta Ins (6).. Rossia Ins Co rta Safety Cable (4) St Jos Lead (13) St L & San F18). St L Southwest.. Schulte (3%)... Seabd Alr Line.. Seagrave (el.20) Sears-R (n21). Shattuck F G (2) Shell Tra (a2.41) Shell Un (1.40).. Stmmons (2) Simms Pete. nclair Oil. Sinclair pf (8)... Skelly Oil (2)... Snider Packg Co. Snider Pkg pf... So Por Ric S(f: South Calif Ed.. South Dairles A. Sou Dairles B... South Pac (6)... Southern Ry (7) Spaulding pf (7) Spear & Co SIG&E (3%). Std G & Epf (4). Std Mill (5)..... Std Millg pf (6). StdOilCal(12%). Std OILNJ t1%) Std OIINY (1.60). Std P1Glass pf.. SterlingPro(17) Stewart-War (6) Strom Car (2). Studebaker (5).. Submarine Boat. Sun Ol (11) Sun Oil pf (6)... Superfor Oil..... | Superior Steel Symington Cl A.. ‘Tenn Copper (1) Texas Corpn (3) Tex Gulf Sul (4) Tex & Pacific.... Tex PC&O(60c). Tex Land Trstn Thatcher Mfg... The Fair (2.40). Thompson(3.60) Tidewatr As Ofl. TidWASOIIpf(6) Tide W Ofl pt (5) Timken (15).... Tobac Prod (7).. Transcont Ofl.., Transue & Wil.. Twin City R (4). Underwood (4).. Underwd pt (7). Union Carb (6).. Unlon Ofl (12%) Unlon Pac (10). Un Pacific pf(4). UtdCgrSt(C80c) Utd Cgr St pf(6) United Drug (9) Utd Drg 1st (3% Utd Dyew pf (7) Utd Frult(15%). USCI1P&F (10) U S Distributing S Hoffman (4) Alcohol (5). IndAIf pf(7) Leather w1. Leather A.. Leatprpf(7) S Realty (4).. S Rubber, S Rub 1st (8). U S Smelt (3%)., U S Steel (7)... U S Steel pf (7). U S Tobacco(3). Uni Pic 1st pf(8) Univ Pipe(t23%) Utl P&LL A (e2) Vanadium (t4).. Van Raalte pf... Vick Chem (4) Victor TIk Mch. . Victor ev pf (6). Victor pr pt (7). Va-Caro Chem. . Va-Car Ch 6% pf Va-Car Ch pt (7) Vivadou (3).... Vulean Detin.... Vulcan Detin(A) Wabash........ Wabash pf A (5) Waldort (1%).. Walworth (1.20) Ward Baking B. Ward Bak pf (7) Warner Pic A... Warren Bros (4) WarF&Pipe Cor. W Penn El pf (7) West P Po (6).. West Maryland. West Md 2d pt.. West Pacific. . West Union (8). Westhse A B(2) Westinghse (4). Weston A (2). White Eagle (; White Mot (4).. White Rock (2). White Sew Mach Willys-Overland Willys Od pf (7) Wilson & Co.... Wilson Co pf A.. Woolworth (5).. Wright Aero (1) Yellow Truck... Youngstn S&T 5. 82% ccegcacca Lrunn & NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Low. Close 1% 1% 148% 45% 10% 46% 148Y 4% 10% 46% 4T 19% 10% 107% 175% 50 26% 82Y% Hourly Sales on N. Y. Market. 11a.m, 380,700 12 m. 1pm..1,046700 2pm... 786,300 1,313,300 Dividend rates as given n the above table ars the annual cash payments based on the latest quarterly or tal searly_declarations. Unless Gherwise noted. extra or special divi- dend; * Unit + Partly axtra. able are not_included common a Paid en per cent 2% % _quarierly. stock. siiars i stock stock | P'lug stock k Payable 1730 in Class A rlock, n P = of tradine less t 3 Plus 4% ook, this vear—no i common st of a share m ock. p Plns $3 8% n X preferred stock s oue-halt of common slocke T o0 han 100 ehares £tock. A ay. Plus 2/50 in regular rate. asabl us %% In auarterly in stock. Construction of government railway projects in Colombia is increasing, CLOSER LAND BANK INSPECTION VOTED Association of Joint Stock In- stitution Plans More Care- ful Supervision. BY EDWARD C. STONE. The American Association of Joint Stock Land Banks, in session at the Raleigh with the Federal Farm Loan Board, has voted to adopt a mnew method of thorough inspection for ach of the member banks. In the t there has been some criticism t these banks have not been in suf- ficienitly close touch with the Treasury and it will be one of the future aims of the hanks to have such investiga- tions made of each bank so that more complete information will at all times be available. The association has also voted to have a new board of supervisors with one member from each of the sections where these banks are located. It is believed that these two moves will prove of great benefit to the banks, the association and the public. Mondell Lauds Land Banks. Frank W. Mondell in an address last evening praised the success attained by these banks in the past. While it is true, he said, that some of the banks had to take over the land upon which they had made loans, they had ke not nearly as much as have ' organizations in the same busi- The land banks have a great fu- ture, he asserted. Land values are bound to advance steadily. There is no more free land. The land now in use has got to supply the food of the future. That means more intensive farming and greater values for land, he said. “The association will elect officers this afternoon for the coming year. Local Securities Steady. Capital Traction advanced fraction- ally to 109% today on the local ex- change. Potomac Electric 52 per cent preferred again sold at 106%%, Sand & Gravel at 103 and Washing- ton Gas at 813%. Railway & Electric preferred was off a quarter point, selling at 99%. Mergenthaler sold at 111%. Federal American Co. common came out at 391 and 100 shares of National Mortgage & Investment pre- ferred sold at 6%. Nine shares of Norfolk & Washington Steamboat Co. changed hands at 289. Federal National Bank stock sold at 339, American Security & Trust moved at 456 and 455. Bonds were qniet but firm. Cooper Elected to Directorate, Wade H. Cooper, president of the Continental Trust Co. and of the United States Savings Bank, was yes- terday elected a director in the United States Securities Corporation, which has headquarters in this city. The corporation was organized some time ago under the laws of Maryland to do a general flnancing: business, its se- curities being marketed by C. E. Moran & Co. The officers include Senator Edward I. Edwards, chairman of the board; ex-Senator Nathaniel B. Dial, presi- dent; Representative Percy C. Quinn, vice president; James B. Hobbs, treas- urer, and Thomas A. Wadden, secre- tary. The directorate is also com- posed ot Frederick I. Cox, George A. Garrett, Representative Edward W. Pou, Carleton E. Moran, John G. Walling, Carville B. Benson, John R. Waller and Charles A. Douglas. Insurance Men Meet Here. Johnson & Adams, southeastern managers of the Continental Casualty Co. and the Continental Assurance Co., entertained the Washington and Richmond agents of the company at 2 sales conference here last Saturday. About 35 attended. The guest speaker was W. E. Lord, general agent of the Continental companies at Cincinnati. The conference was presided over by Eugene G. Adams. Other speakers were C. M. Wright, G. L. Haines, V. A. Nichols, J. H. Ledger, 1. B. Warthen, J. E. Me- Combs, P. B. Dunbar and D. E. Win- stead. Change in Insurance Personnel. Aubrey J. Voorhees today assumed management of the Aetna Co.’s branch office and the Government Service Bureau, succeding John T. Jones, who has resigned to become as- sociated with the H. L. Rust Co. This company deals in real estate, loans and insurance and has represented the Aetna Co. for years, so that Mr. Jones will still be more or less closely connected with the Aetna. Mr. Voorhees has been assistant manager of the Washington office for about six years. He will now assume direction of the Government Service Bureau, in which work he will be as- sisted by B. F. Foster, jr. L North American’s Earnings Up. The forthcoming statement of North American Co. utilities for the year ended September 30 is expected to show gross earnings exceeding $120,- 000,000. This would be almost $7,000,- 000 more than the year before. Reserve Bank Heads Confer. The governors of the Federal Re- serve Banks again were in conference today with the Federal Reserve Board. Operating problems, credit and dis- count rates were the chief topics ex. pected to be touched upon today. The bankers appear inclined to shun the question as to authority in the lowering or raising of rediscount rates in the 12 districts. It is believed, how ever, that the Chicago incident will come up for discussion at some time during the sessions. o CHICAGO LIVE STOCK MARKET CHICAGO, November 1 (United States Department of Agriculture).— Hogs—Receipts, 25,000 head; uneven; steady to 15 lower than yesterday's average; top, 10.20; several loads, 230 to 280 pounds at the price; bulk de- sirable 210 to 300 pounds, 9.75 to 10.15; good and_choice, 170 to 200 pounds, 9.15 to 9.75; most 130 to 160 pounds, 8.00 to 9.00; bulk packing sows, 8.00 to 8.40; best light weights, 8.50 to 8.60; pigs, mostly 7.50 to 8.00. Cattle—Receipts, 11,000 head; killing prices generally steady; grain fed steers, all weights moderatively active; in-between grades, slow, uneven; kill- ing quality, generally plain; good mar- ket on stockers and feeders; vealers, 50 lower to big packers; best heavy steers, 17.76; medium supply eligible to sell at 16.50 upward; bulk vealers, 12.00 to 12.50 to big packers; up to 15.00 to outsiders; weighty sausage bulls, up to 7.75. Sheep—Receipts, 9,000 head; fat lambs active; 15 to 25 higher; range killers absent; best native lambs, mod- erate to light sort, 13.50 to 13.75; best held around 14.00; buck lambs re- jected from load 110 to 130 pounds, 11.00 to 11.50; culls, 10.00 to 10.75; good fed clipped lambs, held above | 11.50; good wooled comebacks eligible around 13.50, steady: bulk fat ewes, |C 6.00 to 6.50; feeding lambs, unchanged; bulk eligible, 13.50 to 14.25. . FEDERAL LAND BANK BONDS. |G Mot~ Arten.cb . Brown & Sons. Closing.) (Quoted by Alex. oalng.) Rato—Maturity . vield. b3 May 1941-3 65 Nov. 1941 145 May 418 Jan. 418 Jan s H H H oot SEEERREESEEESE gy R 7 July i 19 ‘& i b i uly i : Y ds BRAOEC DT DS S BB b PSR RS s 8 COTTON CARRYOVE FIGURE UNOFFICIAL Jardine Explains That Sources Not Under U. S. Su- pervision Gave Some Data. By the Associated Press. J . The Department of Agriculture’s cotton carryover estimate of about 7,800,000 bales as of July 31 “was not official in the sense of having been entirely compiled from data gathered ! under governmental supervision,” Sec- | retary Jardine said today in a formal | statement. There has been considerable contro- versy over the estimate made public September 15, which was followed by a drop in the price of cotton. Secre- tary Hester of the New Orleans Cot- ton Exchange claimed the carryover was 860,000 bales too high, and sev- eral Southern Congressmen requested the department to furnish information as to how the estimate was made up. Later Representative Aswell of Louis- iana and Secretary Hester requested that the Government estimate be withdrawn, Secretary Jardine has stood by the figures compiled by his department and in reply explained the source of the statistics used. Today's statement followed a con- official of the New Orleans Cotton Ex- change and was prepared by Lloyd S. Tenny, chief of the Bureau of Agri- cultural Economics, whose bureau made up the carryover compilation. Try to Cover Entire Field. “In its efforts to help the American farmer produce and market his crops to best advantage” the statement said, “the Department of Agricul- ture issues from time to time state- ments analyzing as completely as pos- sible the situation with reference to important farm erops, including cot- ton. In order to be of maximum service these statements must be com- prehensive and cover in so far as pos- sible the situation in foreign countries as well as at home. “In connection with these reports some question has arisen why the De- partment of Agriculture uses data from private sources. In the prepara- jon of these statements reliable offi: ial sources are used whenever avail- able. For some phases of these re- ports, however, the Department of Agriculture and other Government agencies do not have the necessary data. “This is particularly true of supply and demand conditions in foreign coun- tries. It becomes necessary at times, therefore, to use data from private sources. In using such data, however, the department critically examines all available sources and selects what in its judgment supplies the most depend- able information. Naturally the use by the Department of Agriculture of data from private sources in this man- ner does not necessarily make these data official. Held Not Official. “With reference to the use of cotton carry-over figures of about 7,800,000 bales in a report issued by the depart- ment on September 15, it should be no- ticed that this calculation was made in part from figures furnished by the United States Census Bureau and in part from private agencies, foreign and domestic, in the cotton trade. Of the figures used 3,663,000 bales, or ap- proximately 47 per cent of the total, were the official figures of the Bureau of the Census and the remaining bales or approximately 53 per cent, were taken from private sources. “It will, therefore, be seen that the figure of 7,800,000 bales was not offi cial in the sense of having been entire- ly compiled from data gathered under Government supervision.” . M. & P.R. R. INCOME DOWN. Decrease of $2,264 in September From 1926 Shown in Report. Special Dispatch to The Star. BALTIMORE, November 1.—Total operating revenue of the Maryland & Pennsylvania Railroad for Septem- ber, as shown in statement just issued, was $94,544.64, a decrease of $2,264.91, as compared to like month last year. Net railway operating was $21,125.13, a decrease of $2,224.34. For the nine months, total operating revenue is shown as $714,796.61, a de- crease of $3,524.99, as compared to corresponding period last year, and net railway operating income was $138,078.44, a decrease of $352.49. Operating expenses increased slight- ly in September, but decreased for the nine months in comparison with 1926 FLEECE WOOLS ACTIVE. BOSTON, November 1 (Special).— Fleece wools were active today in the Boston wool market, but territory wool business was quieter. On a clean basis, fleeces are selling in line with territories, with advances in the past week averaging a cent a pound grease basis. Fine Ohio grade fleeces were quoted today at 47a48 grease basis, half blood and three-eights blood at 47 and quarter blood at 47a48. Fine territory was quoted at 1.12a1.15 clean basis, French combing at 1.05a1.08, half blood at 1.02a1.05, three-eighths blood at 92a96 and quarter blood at 83a87. . NEW YORK MARKETS. NEW YORK, November 1 (#) Flour steadier; Spring patents, 6.85a 17.25; hard Winter straights, 6.65a7.00. Rye easy; No. 2 Western, 1.09% t. o. b. New York and 1.07% c. i. f. export. Barley barely steady; malting, 89% c. i. f, New York. Lard weak; Middle West, 12.20a12.30. Tallow firmer; spe- cial loose, 9; extra, 9%. Wheat fu- tures opened steady; domestic Decem- ber, 1.27 asked. Other articles un- changed. | . RUBBER DECLINES. NEW YORK, November 1 (Spe- cial).—Crude rubber, smoked ribbed sheets, declined an eighth of a cent at today’'s noon quotation of 3514 cents. This compares with 33% a month ago and 42 a year ago. o COTTON GOODS EASIER. ! = PINANCIAL. 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