Evening Star Newspaper, November 9, 1927, Page 14

s FIN STOGKS SELL OFF - NFTER EARLY RISE e i!zavy Offerings of Steel and Motors Unsettle the General List. BY GEORGE T. U [ N to The Star, Special Dispate N gelling Motors unsettled today and turn: stock ma d after an early 'he opening hs nd for a time nes was to be 5 changed, how: developed in the ctivity fell alted con- s number of e could poin sing shares th. hotably t te: e of ver e in demand ntiment nevertheles 1at the market was ripe s of them The car public since the Monday showed re- | < compared with | the t against i the precedi Talk | put the « was not | ite optimistic had been. | ‘Then tomorrow tiic are m- | | portant _event neral | “lotors ¢ d meeting, at which the e will | yon the new stock nd the other the unfilled tonnage | tatement of the United States Steel orporation Rail St Railroad res Unhesitating. ! moved unhesi- | tatingiy. Southern Railway was strong, bettering by a fraction 1(§ previous high for all time above 138, andard _she such_as shares New Yo iimore & Ohio, were in supply when- { ever buds were advanced. Of the | stocks Northern Pacific | se have the best support. ! Fluctuation: the “big three"— Ceneral Motors, United States Ste followed by cufficient to brin a net loss on tihe happened Steel h || on this recover many other v price dow . Before this oad d made a new high nearing 138. Unlike nt markets, however, ist did pot follow the bacco shares were con- strong under the leadership an_Tobacco. International Mercantile Ma & rred had a tharp run-up, ng attention o the equi is stock would show ia liquidation Packard Demand Good. *~ The independent motors ° wored the “eaviness in General Motors. Packard as in a‘tive demand, crossing 50 to he highest the present $10 par stock s ever sold. Reports of an increase ae divilend were in circulation. {ash and Hudson were hoth strong tor a time, although they lost part of ithe gains subsequent Oil stocks ere firm. A few of the better grade ©ils moved up fractionally and it was tegain apparent that this group was in 7% position to respond to buying. The Zank and file of traders have seen the s 1ke so many false starts that ihey refuse to follow any upward move aent and the advance did not get far. Production statistics for the week ended November 5, given out today, showed a decline in crude out- put from the préceding week. Money renewed dt 31 per cent and a'though the ba.”. called $10,000,000 loans the supp!" was abundant. ASKS STOCK ISSUE. Permission to issue $25,000,000 in new common stock and to turn it over to the Pennsylvania Railroad was ask- ©d today of the Interstate Commerce Commission by the Pennsylvania Tun- nel & Terminal Co., which operates the railroad bores into New York City. The tunnel company desires the issue to reduce its'debts to the parent corporation, which now stand at $83,- 600,000, the N. Y. C. RAIL NEEDS. NEW YORK, November 9 (#).— ‘The New York Central will expend 57,600,000 on steel rails for delivery mmext year, involving 177,140 tons, dis- tributed among Bethlehem Steel, Illi- nois Steel, Inland Steel and Carnegie steel, BU—B—BER UNCHANGED. NEW YORK ovember 9 (Special). —Crude rabber, smoked ribbed sheets, remained unchanged t today’s noon quotation of 37. This compa.es with 44 2 month ago and 41% a year ago. o TREASURY CERTIFICATES. (Reported by ] & W Eeh(flb“r_l“fi"co.l ate——Maturtty Joaite s FOREIGN EXCHANGE. (Quotations furnished by W.B. Hibbs & Co.) crown 0 Stockholm. ciown.’ November 9.—Foreign | Quotations (in cents): . demand, 486 ;e 60-day bills on ince, demand, 3.92%; i. Italy, demand, 5.44%; 5.45%;. um, 13.931; Germany, 012; Nor Jenmark, 26.7 a, 42.68%; Bra- .18; Shanghal, 100.15%. e g zil, J . 63.1214; g GERMAN BONDS AND STOCKS. By Special Leased Wire to The Star. NEW YORK, November 9.— B, Asked. 5400 59.00 26.00 29.00 on marks ) 30.00 40.00 thousand marks ) ar. 2500 Ger Gt Red Loan with draw ctfs att per 100 B M. Ger Gt Red Loan without ver 1.000 R M in dollars per mi 438 1919, ...... bre-war er Line 4% n Lioyd 4 %5 Bink. ! Chem | Asso DG 1st (6) 109 | Conde ANCIAL, THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Low. Close. 129% 132 Abrahm&Straus Ahumada Lead. | Air Reduetn(t7) | AJax Rubber... Aibny Pap pf (T) Allled Chem (8) Allls Chalm (6). Amal Leather Amerady (2). Am Agricul Cl Am Agrl Ch pf.. | Am Bank N(#3). | Am Bk N pf (3). i Am Bosch...... 13 1115 L11% 12% v | Am Br Sh (11.60) Am Brown Bov. | Am Brown Bo pf Am Can (2)..... Am Can pf (7).. | Am Car&Rdv (8 ! Am Drug (80¢). | Am & For Pow... | Am&Fo Po pf «7 Am Hide & Lea Am Ho P (240 | American Ice(2) Am Internati(2) Am La France.. Am Linseed. Am Linseed pf.. 89 | Am Locomot (8) 103 | Am Loco pf(7).. 124% [ AmMa&Fy pf(7) 65% 134% 134% 101 101 13% 25 26% 104 104 12% 124 102% 102% 1244 124Y 210 210 8t 38% Am Piano (3) | Am Piano vt (7) Am Po & Lt (11) Am Radlator (5) 13 Am Republic.... 4 Am Ry Exp (6 | Am SafetyRu$3) Am Shipbldg (8) 107 Am Smelting (8) 172% AmSnuft (12).. 139 Am Snuft pf (6). 100% Am St Fdys (3) 4Tin Am Stl Fy pf(7). 114 Am Sugar (5)... il Am Sugar pf (7) 105 Am Sumatra.... 64 Am Tel&Ca (5) 3 Arn Tet & Tel (9 17 Am Tobacco (8). 179 AmTobaccoB(8) 179 1 Am Type Fo(8). 121 128% 121 Am Type pf (7). 110% 110% 110% 110% Am W W (m80c) 634 621 627 AmWWks p£(6) 100'% 100'2 100's 100% Am Woolen . 23% 28% 22% 22% Am Woolen pf b4% 52'a 52 Am Writ Pactfs 207 20% 20% 20 Am Wr Pa pfefs 48 438 48 48 Am Zine. 5% 6% 5% 5% 36% 36% 36': 364 48% 48% 4T's 4Th 49 51 49 82 82 82 W4 10% 10 6ix [ 29 25 v §74 107 168 16 188% 138w 100t 1003 47 47 39 1004 4T 114 114 7% 70 10674 106 64t 63 B1% 314 W 177% 177 Anaconda (3) Archer-Dan (3). ArmourDel pf(7) Armouroflll(A) Armourof111(B) Arnold Con&Co. Art Metl (1% Asso Ury G 10% | 64 | 42 25 46% 109 4TH 467 109 1 190% 19 U 1884 102% 4023% 102% 1023 | 1914 191% 189 190 3474 347 33% 34 324 33 1% 33 117 118% 116 116 Autostrap A (3) 43% 434 43% 43u Baldwin L (7).. 252 252 250% 251 Balto & O (6)... 119 119 117w 117% Balto& Oh pf (4 81% 814 Bl% 814 Bambgr pf(6%). 109% 109% 109% 109'% Bang & Ar (3%) 70 70 70 70 Bang & Ar pfi(7) 110% 111% 110% 111% BankofMan(16). 580 580 580 580 Barnsdl A(b2lg) 24% 24% 24 244 Bayuk Clga: 9 Atchison (110). Atchison pf (5). AtICL (18%).. Atl Gulf & W1.. Atl Guit& Wil pf. Atl Refining (4) 14 144 14% 673% 667 667 21 21% 54 4% 52% 52% O51% 51% Beth Stlpf (7).. 115% 116 1154 115% Bloomingda 401 41% 40% 41 Bimingdle pf (7) 112% 113 112% 113 Blumenthal pf.. 88% 88% 88% 88% Bon AmiClA (4) 64 64% 64 64% Beech-Nut (13). Belding Bros (2) Best & Co (3) Bethlehem St 67 21 54 123 | Electric Boat... Elec Power & Lt Elec P&LL of (7) EP&Lpf 40%(7) ilec Refrigeratn El Stge Bat (16) Elk Horn pf. iSnd John (5) Engineers Pub § Equit Bldg (7).. EquitableTr(12) Engnrs PS pf(7) Erile R R.... Erie 1st pf Erte Stm S (2%) ErieStmScfs 21 ureka Va f143% Fed Min&S(10). ed MoLT(fS0c) Fid Phoenix(4). Eirst NatS(114). Fisk Rubbel Fleischman Foundation (5). Fox KIim A (4). 1 Freept-Tex t4% Gabriel Sn (315) Gen Am Tok(4). (Gen Asphalt. tienlileo sp(60c) Gen GasA (01%) | Gen Motors..... { Gen Mot pf (7) Gen Qutdr Ad( | Gen Ry Sig (5). | Gen Refrac (3). | Gillette SaR(15) { Giimbel Bros. ... | Gimbl Br ot (7). | Ghdden Co. ... Glidden pr pt(7) Gold Dust (3)... Goodrich Ru (4) | Goodrich pt (7). Goodyear Tire. . Goodyr 1st pf(7) {Gothm S H (2%) Gotham new 2% ! | Gould Coupler A Granby Con Min Grt North pf (5) Grt Nor O (1%) irt Wes S(2.80) Gt West S pt (7) (ireen Canan.... Guantanamo. ... Guantan pf (8). Gulf Mo & Nor... Gulf States Stes) Gulf Sta 1st(7). Hack pf A(1%). Hrin B b10%stk HockingVal(10) Hoe &CoA..... Hollander & Son Homestake (17). | Housh!d P (3%) Houston Oil.... Howe Sound (4) | Hud Man (2%). Hudson bdot (5) Hupp Mot(1.40). Hilinots Cen (7). Indep Oil (1)... Indian Mot (1%) Indian Mot p£(7) Indian Refining. Indian Refg ctfs Ind Ref pf(7)... Inland St (2%). Inspiration Copr InterboroRapTr Intcontl Rub(1) Internat Agri... Int Agricul prior Int Bus Ma (4). Int Cement (4). Int Cement pf(7) int Com Eng (2) Int Comb pt (7). Inter Har pf (7). i IntMtch pf(3.20) Int Mer Marine. int Mer Mar pt. Int Nickel (2)... Int) Paper (2.40) Booth Fisheries. 5% 5% bW 54 Booth Fish 1st.. 404 40% 40% 40% Briggs Mfg Co.. 21 214 19% 19% BritishEmp2d.. 1% 1% 1w 1% Bkin-Edison (8) 176% 1764 176% 176% Uklyn-Man (4), 56% 57% 56% 57Tk Bklyn Un Gas(h) 134 Brown Shoe (2% 45 gn:'nlswlek Ter.. 8 8 uft&Susq pt (4) 51% Burns BrosA (8). Ml Burns Bros (B). 19 19 Burroughs Ad t4 135 136 Bush Terde (7). 105 105 105 106 ButteCop (50c). 8% 3% 8% 8% Butte&Super (2) 8% 8% 8% &% Butterick (§2).. 46% 46l 46% 46% Byer & Co . BB B5%. 3l N8l Byer&Copf (7) 111 111 111 111 By-Products (2) 72% 72% 7i% 71% Callf Packg (4). 67 67 66% 66% Calif Petm (1).. 23% 231, Calumet & Ar (6 93% 90% Calu & Hecla (2) 17 16% CanDry (+3%). 48% 48% 4T% 47% Can Pacific (10). 196 196% 191 19115 Can Pac 1st pd.. 192 1924 188% 188% CaseThreshz(f) 278 279 213 =75 Case Thr pf (7). 121% 121% 121% 121% Cent Alloy (2).. 25% 25% 254 264 CerrodePas (t6) 62 62w 61% 61% Certain-Teed (4) 5l% 51% 51t 514 CertoCorpn 13% 67% 67% 67% 67% Chand-Cle 5 5 5 § %) 1T% 1T 17% 17% se Nat B(18) 586 586% 580 580 Chat-Ph Bk(16). 620 520 520 520 Ches & Ohlo (10) 211 211% 209% 209% C&OCorpn (3), 844k 85 &3k 83% Chi& Alton pf.. 11% 11% 10% 10% Chi & Bast Il pf 75% 75% 7d% 74% ChiGreat West. 13% 13% 12% 12% ChiGt West pf.. 30% 30% 28% 29 ChiMII&StP.. 16% 16% 164 ChiMil&StPpf 30% 30% 30 30 CM&StPefs.. 16% 15% 15% 164 CM&StPofcts 29 29 284 28l Chi & Nwn (4).. 91% 91% 894 89y Chi Rock Is (5). 107% 107% 105% 105% CRI&Ppf(6). 103 103% 103 103% Chi Yellow C(4). 45 45% 44% 441 Childs (32.40).. 55% 55% 554 b55% ChileCo (2%).. 36% 36% 36% 35% Chrysler Cor €3) 57% 5T 56'% 6% ChryslerpfA(8). 113% 113% 113% 113% ity Stor A (3%) 51 51 51 51 City Stores (B), 54% 5% 54% 54y Cluett Peab (6). 80 804 78% 78% Cluett Pea pf (7) 125 125 125 125 Coca-Cola (6)... 123 123% 121 121 Collins & Atk(4) 93 931 91 931 Collins&A of (7) 106 106 Col Fuel & Iron. 72% 172% Co}g!nzlhn(fl) 121 121 ColGas & EI (6) B9% 89% 8914 8o Col GRE bf A (6) 1074 107 10704 10708 Col Carbon (4).. 98% 98% 98 95 Com Cred (1) 19% 19% 19% 19% ComCred pf 8%. 824 82 824 82y Com Inv(3.60).. 50 52 50 51 Com Solvents(8) 173 176 170% 172 Cam Powr (2% ). 68% 68% 66% 674 8t(2).. 45% 45% 451 45% Songoleum-Nair 25 26 24 24 ConClgars (7).. 78 78% 77% Consol Distribut 1% 3 1 "5‘. Consol Gas (5).. 114% 115 113% 1131, ConsolGas pf(5) 99% 99% 991 a9y 59 69 8 134% 136% ConRRCuba pf8 69 69 Consol Textlle. . Cont Bakg A (4) 52% Cont Baking B.. Cont Bak pf (8). 51% 5% 7 Tou 15 7 5% 76 242 242 240 2‘0% 9% 9% 9 gy 62 62 61y 61% 103% 105 1034 1031 81% B1% 79% 28% 281 21 21% 83 83 54y 93 TT% Corn Prod (+3), Coty Inc (16)... CructbleSteel (6) Cuba Cane Su pf Cuba Company. . Cuba R R (4.80). Cudahy Pkg (4). 55% Curtiss Aero.... 46% 46%, Cushman's (§4) 143 143 143 Cushmann pf (8) 114 114 114 uyamel Fruit.. 51 61% 51 34% 34 Davison Chem.. 34% Deere&Co pf (7) 122 1227 122 Del & Hud (9).. 188 188% 182 183 Del L& W (17). 137% 1374 1371% 137y DNetrott B4 (8).. 157% 167% 167% 157% Devoe&R 1st(7) 111 111 110 110 Diamd Mtch(8) 185 135% 135 135y Nodge Bros CIA 14% 14% 14 144 Dodge bf (7).... 60% 60% 60% 60% Dome Mifies (1), 11% 113% 11 11% Dunhill Int (4).. 57% 67% 57% b7% Dupont (19%).. 312% 814 304% 3056% 47 3 143 114 51% En 122% Int Paper pt (7) Int Ry Cent Am. Inter Salt (6)... Int! Silver...... Intl Silver pf(7) Int Tel & Tel (6) Intertype(t13). Iowa Central.., JewerTea. . Jones Bros Tea. Jones & Lau (7) Jordan Motor. .. KCP& L 1st (7) Kan City South. Kayser J (4). KKelly-Spring... Kelly Tire 6% pf Kelly Tire 8% pf Kennecott C (5). Keystone T & R. Kresge (1.20)... Kresge SS pf(8) Kresge Dept S.. Lago O] (75e).. Lambert Co (16) Lee Tire & Rub. LehighVal(3%) Lehn & Fink (3) Life Sav (1.60).. Lig & Myrs(ft4) Lig&MyrsB (f4) Lig &M pf (7) Lima Loco (4).. Liq Carb (3.60). Loew's Loft.....coneee Long Bell A (4). Loose-W11(1.60) Lorillard Co .. Loulsiana Oll... LouisGasA (1.75) Louls & Nash(7) Ludlum Steel(2) MacAndrws 2.60 McCrory (1.60). McCrory B (1.60) Mcintyre P (1).. Mack Truck (6) Mack Trk 2d (7) Mackay (7). Magma Cop (3). Mallison & Co. Mallison of (7) Mandel (2%)... Man El m g (d5) Man El Sup (5). Man Shirt (2)... Market St prior. Marland Oil.,.. Mar Rock(13%) Martin-Pary (2) Mathieson (4).. May Dept S (4). Maytag (13).... MetroG pf (1.89) Mexican Seab... Miami Cop (1), Mid-Continent. . Middle States. . . M1d States Oll ct Midland pf (112) Miller Rub (2).. Minn & St Louls MStP&SSM 1i(4) Mo Kan & Tex. . Mo K & T pf (6). Missour! Pacific. Missour! Pac pf. Montana Pow (5% Montgmry W(4). Moon Motor.... Mother L (60¢) . | Motor Met (3.60) Motor Whi (2) Mullins Body .. Munsingwr (3). Murray Corpn. . Nash Motor(t5). Nat Acme (sta). Nat Bellas Het Nat Biscuit(t Nat Cash R (A)3 Nat City Bk (20) Natl Dairy (3).. Nat D St 1st (7). Nat Distillers. .. Nat Enamel & 8 Nat Enam pf (7) Nat Lead (6)... Nat Led pt B (6) Nat Pw&Lt (80c. Nat Ry Mex 2d. Nat Supply (4). Nat Surety (10) DuPontdeb (6). 114 114 114 114 Duquesne pf (7) 116% 116% 116% 116% Eastman (18)... 166% 166% 164% 1644 k Vienna..'. . 168700 = 100 Eaton Axle (2).. 224 22% 221 22% Iisenlohr & Bro. 11% 11% 11% 11% ELAutoLt (16%) 91% 94 914 92 Nat Tea (4).. Nevada C(1%). NOTex& M (1) N Y AIr Br(3).. N ¥ Cent (8 NY C&StL (8). NYC&StL pf(8). Oven. High. Low. Close. 17 "2 105% 118 9% 0% 184 4% 37 89 417 107 130% o114 1 Y 43 43 43 100% 100% 100% HanovrNatB130.1305 1305 1305 234% Int Harv «36)... 2 41% 65 1943 126 149% 27 3 3% 25% 120% 14% 115% 64 331 83% 14 95% 41% 22% 107% 17% 27 106 118 9%k 0% 18% Ti% 3T 89 417 107 64% 28% 217 28 16% 26% 267 106% 106 43 100% 1305 231 28% 214 21% 412Y% 412% 412% 28 28 ¥ 162% 127 107% Received by Private Wire Direct to The Star Office. NY Dock.es.ese NY Dock pf (5) NY NH & Hart. . NY NH&H pf(7) NY Ont& W (1). NY Steam pf (6) NY Stm pf A (7) Norf & Wn(110) NorAm b10%stk North Am pf (3) North Pac (5)... Nor Pac cfs(5) Norwalk Tire. .. Norwalk Tire pt. 01l Well Sup. umnibus... Opnhm Col (4).. Orpheum Cir (2) Orpheum pf (8). Ous Elevator (6) otis Steel....... Otis Sti prior(7) Owens Bot (C15) Owens B pf (7). Pacific Gas (2). Pac Tel & Tel (7) Packard (12.90). Paige Motor. ... Pan.Am Pet (4) Pan-AmPetB(4) Pan-Am West B. Panhandle. Panhandle pf. Parmt-Fam ( Park & Tilford. . Park Utah (80c) Pathe 15x A (4). Patino (a2.10).. Peeriess Motor. . Penick & Ford. . PennDix Cmt(2) Pa Dix Ctpf (7). Penna R R (34) Peoples Gas (8) . Peorla & tast Pere Marg pr( Phila Co (k4)... PhilaCob % pr(3) Phila& RC1... Phil-Jones pf(7) Philip Morris. .. Phillips Pet (3). Phoenix pf (7).. Plerce-Arrow. .. Plerce Arrow pf. Plerce LIl Pierce Petl . Pillsbry pf(6p) Pitts Coat. . Pitts Coal pf.... Pitts &W Va(6). Postum (5)..... Pressed Stl Car. Prod & Refiners. Pub Serv NJ (2) Pub Serv pt (6). Pub S NJ pt(7). Pub SE&U pI(6) Pullmn Corp(4). Lunta Ales Sug. Pure Oil 11.87% Purity BakA($) . Purity Bak B (2) PurityBak pf(7) Radio Corp of A. Radio C pf (3%) 5 RS 1Cefs (4). Reading (15 Reading d (2). Iteal Silk Hos. .. Real Silk pt (7). teid Lee Crin(d) teidlceCr pf(7). Rewm-1Rand $1,60 Lep Ir & 3u (4). Reynolds Spngs. Rey Tobuc B (5) iossia Ins Co rts Royal D a3.13% . Rutland pt. Safety Cable (4) St Jos Lead (13) St L & San F18) St L&SanF pf(6) St L Southwest. Savage Arms... Schulte (3%)... Seabd Alr Line, . Seab Air L pf. .. Seagrave (el.20) sears-R (nzlg). Shattuck F G (2) Shell Tra (a2.41) Shell Un (1.40)., Shuber The (5). Stmmons (2)... Sunms Pete Sinclair O\ Skelly OI1 (2)... Sloss-Shet (6).. Snider Packg Co So Por Ric S(f2) South Canr Ed.. South Pac (6) Southern Ry ( South Ry pf (5). Spicer Mfg..... SWG&E (3%). StdG & Ept (4). Std Mill (5)..... Std Millg pf (6). StdoNCal(128 ). 1Std OILNJ t1%) Std OINY (1.60) Sterling Prod(16 Stewart- War (6) Strom Car (2)... Studebaker (6). Studebak pf (7). Submarine Boat. SunOll (11).... Superior Oil Symington. Symington Cl A, Tenn Copper (1) ‘Texas Corpn (3) Tex Gulf Sul (4) Lex & Pacific. .. Tex PC&U(60C). Tex Land Trstn The Fair (2.40). Tidewatr As Oil. TidWASUIID(6) Tide W Ol pf (5) Timken (15).... Tobac Prod (7). Tobac Prod A (7) Transcont Ofl. . . Transue & W (1) Underwood (4). Underwd pf (7). Un Bag &Paper, Union Carb (6).. Unton Ot (12%) Unlon Pac (10). Un Pacific pt(4) UtdCgrSt(C8uc) Utd Cgr St pf(6) United Drug (9) Utd Drg 1st (3% Utd Frult(15%). USCI1P&F (10) 2 U 8 Distributing U 8 Alcorol (5) gS IndAlf pf(7) u u Leather w 1. Leather A.. Leatprpt(7) Reulty (4).: Rubber..... Rub 1st (8). Smelt (335) U S Steel (7)... U S Steel pf (7). Uni Pic 1st pf(8) Univ Plpe(t2%) Ut P&Lt A (e2) Vanadium (t4) Van Raalte pt Vick Chem (4).. Victor Tlk Mch. Victor cv pf (6). Victor pr pt (7). Va-Caro Chem.. va-Car Ch 6% pf Va-Car Ch pf (7) Vivadou (3).... Vivaudou pf (7). Vulcan Detin.... Vulcan Detin(A) Wabash........ Wabash pf A (5) Waldorf (1%).. Walworth (1.20) Ward C1 A (8).. Ward Buking B. Ward Bak pf (7) warner PICA. .. Warren Bros (4) Warren1st pf(3) Web & Hell..... W Penn E1 A (7) W Penn L3It (7) West P Po (6).. West Maryland. West Md 2d pf.. West Pacific. ... Westn Pacific pf. West Union (8). Westhse A B(2) Westinghse (4). Westhse 1st (4). Weston Electric, Weston A (2)... ‘White Mot (2). . White Sew Mach 33 8 s S us us us us 1085% 79% . Low. Close. 60 6! 90 514 124 110% 189% 110% 159 102% 141 8 68 79 17 43% 150 “ | more 61t Yok 108 108% 7 550 82 107 37 11 99% 190% 8204 B3 we'y 195 59% 13714 18 D. ‘| Myers, Federal Trade Com- ' | and closed at 103%. Capital Traction VIDNESDAY, XN END OF “BUSINESS CYCLE" FORECAST missioner, Sees Money | Stability Factor. BY EDWARD C. STONE. The business cycle soon will be ns‘ antiquated as the bicycle—if not, in-| deed, as extinct as the dodo-—declared | Abram F. Mye! ember of the Fed- eral Trade Commisison, in addressing the National Fertilizer Association at Atlanta toda Indications that point toward relegat- ing the business cycle to the attic [ were points by Commissioner Myers as on of the money market through w banking legisla- tion, gradual stabilization of produc- tion through the dissemination of statistics and other lawful activities of trade organizations; the Slm[\lifi‘('.\- tion and standardization of production and products, and the introduction of new wealth-producing activities faster than the old ones are depleted or reach the saturation point.” considerations and he asserted, “‘point ci an indefinite prolongation, minor temporary r dented prospe many arly to with only sions, of I which | we now enjoy Finds Farmers Less Fortunate. The farmer, however, a black cloud on Commiss icture of prosperity. s | It is unfortunate that the farmer ( has not shared directl, in the develop- ment of such great \wealth-producers | as the electric power plant, the motor car, the motion picture and the radio. But it is inevitable that the farmer will be rescued from his present plight | for the compelling reason that the country is dependent upon him for its sustenance, Whether it be by pro- vision for disposing of surplus crops or by improving methods of market- ing, or the development of inland waterways, or by all of these ex- pedients, the agriculture of the coun- try will bhe rehabilitated and your | markets will be restored. “It is the policy of the Federal { Trade Commission,” he declared, “to | encourage self-government in _indus- | try and to avoid superimposed gov- iental regulation whenever pos- | sible, hecause it realizes that those who are ‘hest acquainted with the pe- culiar problems of an industry are hest equipped to govern it. To date the commission has held 25 success- ful trade practice conferences, which have resulted in the adoption of codes of fair practice in as many industries.” Club Savings Total $6,000,000. 1t is reported that the 26 banks in Washington maintaining _Christmas clubs will mail checks totaling $6,000,- 000 to 78,145 members on December I This is a gain of $455,033 over last vear and also an increase of 6,017 in the number of Washingtonians who adopted this method of saving money at_the beginning of the present year, Releasing of such a large sum of | money at the real opening of the Christmas holiday trade will be a tremendous help to local merchants. Not all of these funds, however, will be spent in the stores, as large sums will be used to meet other pressing financial obligations. Furthermore, the advertising committee of the District Bankers’ Association has found that about 28 per cent of the Christmas club funds are put back into per- manent savings in the hanks. The final payment by the club mem- bers for this vear will he due on No- vember 15, The bankers’ advertising committee is already making plans for the usual combined advertising campaign to boost the 1928 clubs, which are practically certain to have more members and a still larger sav- ings total than this year. Local Securities Firm Today. The Washington Stock Exchange had a busy session today. Washing- ton Railway & Electric preferred sold to the extent of 108 shares. s bid on the common stock was 400 with 440 asked, but none was of- fered, Capital Traction sold at 108 on a 40-share turnover. Potomac Electric 5% per cent pre- ferred opened at 107 and later ad- vanced to 107%, closing back at 107, Trading in this issue amounted to 115 shares. A 2-share lot of Washington Gas Light stock changed hands at 82. One share of Peoples Drug Stores came out at 118. tary Grocery preferred sold at 10213, followed by a 50-share sale at 102%. There were several small sales in American Security & Trust Co. stock, the price ranging between 4502 and 452. Columbia Sand & Gravel moved at 102, and 100 shares of National Mortgage & Investment preferred changed hands at 6. Washington Gas 58 opened at 102% 5s came out at 102% and closed at 103. A 33,000 turnover in Railway & Electric 4s took place at 89%. Coast Line Asks Bond Rights. The Interstate Commerce Commis- sion reported today that the Atlantic ‘oast Line has asked permission to issue and hold in its treasury $74,096,- 000 4 per cent gold bonds. The rail- road does not propose to sell the bonds at once, but desires to capitalize the expenditures made by it since 1914 out of earnings on improvements to the system. Hardware Buying Holding. Up. Consistent buying activity is report- ed from important hardware market centers. comparing favorably with the levels recorded for the same period of last year. Hardware Age will say to- morrow in its weekly hardware mar- ket summary: The outlook at this time would indicate very favorable conditions for the balance of the year and for some months to come, Em- ployment and wages are at a high level, while money rates are very low. Financial District Notes. valter J. Harrison, vice president of the Commercial National Bank, is taking his vacation. He Is now at Leesburg, where he has some farm | ests. en last heard from by friends, lent Robert N. Harper of the t National Bank was In Los Angeles. He is most enthusiastic over his trip. Assistant Attorney General William J. Donovan has left Washington for | Cincinnati. where he will be one of the chief speakers before the Asso- clated Stock Exchanges convention. White SM pf(4). Wickwlire cft. Willys-Overla: Willys 0d pf (7) Wilson & Co.... Wilson Copf A.. Wilson & Co pf.. Woolworth (6).. Worthn Pump. . Worth Pump (B) Wright Aero (1) Yellow Truck. .. Youngstn Sh(5). Hourly Sales on N. Y. Market. ¥ 565.900 12 m.. 1,036,000 +1,433.600 2 p.m... 1,685,100 Dividend rutes as given n the ubove tahle the annual cash nayments based on the t quarterly or talf vearly declarations. iess Otherwise notea extra or special divi- ferds, are not inclided 53% E hiTen per cent in commor 2% % quarteriy able “when earned, stock. fPlns 10% in stock. 3 (n stock hPlus $1 a ehare in special Stocke. e 6% in wtock. * 1 Blus 2% i k Payable 1/40 of a share quarierly inpCigsn A& clock, mPlys 8% in stock. o Bardly stock: b Blus $3 in preferred stock. 00 stock, it a Plus-one-half of ’ | Washington, lan inte | 2.0024.00; cauliflower, crate, 1.50a3. One share of Sanl- |5 OV L s PO LOREE IS FORECAST ‘ASW., B. & A. BUYER Electric Line and Western Mary- land Pictured as Links in Fifth Trunk Line. BALTIMORE, November 9.—Rumors of the sale of the Washington, Balti-| more & Annapolis Electric Railroad again are current in financial circles here, and this time the road, accord- ing to reports, is to be taken over by L. F. Loree, former president of the Baltimore & Ohio Railroad, the moving spirit in the proposal for a fiftth Eastern trunk line. A meeting will be held in New York shortly at which the entire Eastcrn ilroad_situation will he gone over | 1 be attended by President 0 Willard of the Baltimore & Ohlo; President W. W. Atterbury of The New York Life Insurance Co Offers to Make i o First Mortgage Loans - On Improved Real Estate in the District ot Colun.bia and Nearby Suburbs in Montgomery County, Md, for 3, 5 or 10 year terms on your 51460 i, Apply RANDALL He. HAGNER & COMPANY MORTGAGE LoOAN CORRESPONDENT 1321 Connecticut Ave. Telephone Main 9700 Apartment Home the Pennsylvania, heads of the other two systems and Mr, Loree. Banking interests close to the railroads which heretofore opposed another trunk line believe there is a tacit agreement to discuss the Eastern rail map in terms of five systems instead of only four. Mr. Loree makes no secret of his desire to constitute Baltimore one of his Atlantic seaboard terminals and it is believed he still clings to the hope that he can make an arrange. | ment with the Baltimore & Ohio whereby the company would surren- ' der its interest in the Western Mary- land Railway, now said to amount to yproximately 50 per cent of the lat- | er's outstanding stocks. In the event such a deal is consum- mated it is considered likely that the Paltimore & Annapolis Railroad also would become al part of the new tem, | thus giving it an entrance into Wash. | ington. The Western Maryland and | the Washington, Baltimore & Annap- olis Electric Railroad are now con- nected by a spur at Port Covington and the tracks of the latter are uced r the movement of freight trains to || Washington. Electris (Spe- || und BALTIMORE, cial), — White potatoes, sacks, 1.25a3.00; barrel, November 9 150- pital and Surplus $3.000,000.00 | What the Law “ays, “Goes” —when a man dies in- ‘estate. Leave a bind- ing Will, and you'l <now in advance who is o share in your estate. Our Trust Officer is read o confer with you about th Irafting of your Will and ap- ointment of a Trustee or Executor, whenever it suits — your comvenience. Naticnal Savings & Trust Co. 61st Oldest Savings Depository in District of Columbia Year Cor. 15th and New York Ave. . 1 sweet poatoes, barrel, 1.25a2.01 barrel, 1.50a1.75; beans, bushel, 2.00; beets, 100, 3.00a4.00; Bruss sprouts, quart, 10a20; cabbage, & crots, 100, 2.5023.50; a2.00; kale, bushel, crate, 2.00a3.50; onions, 1.00a1.65, peppers, basket, pumpkins, 100, 10.00a20.6); parsnips Dasket, 40a50; Savoy cabbage, bushel, a30; spinach, bushel, 75a1.00; toma- toes, basket, 40a1.00; green, 23a40. Apples, basket, 35a75; barrel, 2.50a 6.00: grapefruit, box, 3.0024.25; grapes, basket, 15a1.06; oranges, box, 3. pears, bushel, 1.00a3.25; quinc bushel, 1.00a2.25; Kiefer pears, bushel, 50070, | Hay and Grain Prices. . 2 red Winter, export, 3 red Winter, export : No. 2 red Winter, garlicky, | export, 1.33%; No. 3 red Winter, gar- licky, export, 1.3015. | Corn—No. 2, yellow, domestic, 1.00; cob corn, old, 4.90a5.00 per barrel, nominal. Oats—No. 2, white, new, 5813a59; No. 3, white, new, 5714a58. Old oats | selling at 2 and 2% bushel over new | oats. Rye—Nearby, 90a1.00. i Hay—Receipts, 21 tons. New hay is arriving in only limited quantity It is, therefore, not being officiall graded and sells strictly on its merits within range of 14.00a16.00 a ton, tim othy and clover grades. Straw—No. 1 wheat, 10.00a11.00 per ton; No. 1 oat, 13.00a14.00. Dairy Farm Products. Poultry, alive—Turkeys, pound, 25a 40; Spring chickens, 26; Leghorns, 23a | 24; poor and thin, 17al8; old hens, | (& 18a26; Leghorns, 16a18; old roosters, 15a16;" ducks, 22a25; small and poor, 17a18; geese, 20a26; pigeons, pair, 20a | ¢ 30; guinea fowls, each, 40al.00. 2 Eggs—Receipts, 1,017 cases; native | and nearby current receipts, in free cases, dozen, 44ad5; strictly fresh, | dozen, 47a48. o | B Butter—Good to fancy creamery, pound, 45a49; prints, 49a51; blocks, 48a50; ladles, 37a38; rolls, 34a36; store packed, 34; dairy prints, 34a36; process, 42, | FEDERAL LAND BANK BONDS. | (Quoted by Alex. Brown & Sons. Closing. ) Dirox Rato—Maturity. Asked, Vield Ba ey i YoY; 408 N 03 4.05 % s 410 1 3 3 So2 38528! 1 1 1 014 Shon 233355552252 L ERIRSFE! 8 Equitable Co-Operative Building Ass’n. JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary Organized 1879 18th YEAR COMPLETED Assels. ........... $5,292,042.70 Surplus. .. ....$1,511.115.87 Subscriptions for the 94th Issue of Stock Being Received Join the Equitable —Save Systematically $2 Start a systematic savings account at 30 the Equitable and provide the way for Financial independence. Our plan of Per Sh- =2 saving encourages thrift in a regular S manner and helps you accumulate money. Open an account today and learn of ‘wonderful plan. 915 F Street . e Loans on Real Estate for Periods of 3,5 or 10 Years WE HAVE UNLIMITED FUNDS TO LEND ON Residences, Apartments and Business Properties in the District and nearby Montgomery Co., Md. BOSSEPHELPS Founded 1907 an Correspondent Mutual Life Insurance Co. Main 9300 Lo John Hancock 1417 K St. AQUARTER-CENTURY before the Civil War there were but few American investment bankers—and very little need of more. Buying and selling, like life in general, were upon a very simple scale. Except agriculture, the great source of our wealth, industries were few and unpretentious. ‘When some project—as, for instance, a canal—re- quired great capital, it was raised abroad. Nearly all the great banking houses which trace their existence through the best part of a century were originally mercantile, and were gradually di- verted into new paths by the changing economics of the country. The House of Hambleton is one of these. In 1831, Thomas Edward Hambleton the elder established this house as dry goods and linen merchants. Thirty-four years later, when the great industrial development had been set in motion, its business became solely one of banking. HAM BLETON &> CO. Established 1865 SOUTHERN BUILDING, WASHINGTON, D. C. BALTIMORE NEW YORK PHILADELPHIA CHICAGO T W )