Evening Star Newspaper, December 28, 1927, Page 13

FINANCIATR)? BULLSHAVEEDGE ! N CURB DEALINGS Buying Chiefly Centered in Shares of Specialty Type. - Oils Do Better. " BY WILLIAM ¥, HEFFERN Specia) Dispaten to The & NEW YORK. December 38.—The upward movement was predominant on the Curb Exchange again today. 8o tar as the character of the buying Was concerned 1t varied little from | that of previous sessions. It centered | in issues of the specialty type, which were bid up for special reasons The oil shares as a group did better than they have for some time past, Puasibly . becuuse of the better tade N. advices and the latest news concern ing vevision of the Mexican oil Jaws. | The outstanding feature of the en tire wroceedings. however, was (he spectacular rise in Midland Steel Pred | ucts, which was moving xympatheti- | eally with the prefeived shares on the | Stock_Exchanze. The on of both | Stocks gave every tion that a | technical corner actually existed in the market, and at intervals price | changes were sensational. Following the recent sharp uptutn President Kulas stated he had no knowledge of any one attempting to buy control. In | connection with today’ ations he added that the company is contem- plating no change in the dividend rate. This latest statement was fol- Jowed by a rather sharp setback from | the high of the dav in hoth issues. American Rolling Mills was another which by its action created the im-| :Nninn that as a result of the recent | uving the supply available for mar- ket purposes had heen considerab reduced. Crossing 105, it sold at Best, notwithstanding the advance of move than 6§ points yesterday. Practically all Standard Oil stocks reached higher levels, but improve- ment was limited. Interest centered | more in seversl of the shares of inde- pendent companies, particularly those operating in the Salt Creek field. Ne. Kitistions with the New York Oil Co., on the part of the Ralt Creek Pro- ducers’ Association and the Mountain Prodycers’ Corporztion, the two major factors in this field, 10 acquire minor- ity royalty holdings in these areas are nearing completion and details are expected shortiy. according to to those well informed on Salt Creek producers’ affairs. American Arch was taken up in the | afterncon and bid up some 4 points | before the demand was supplied. PHILADELPHIA ELECTRIC UNION IN EFFECT FEB. 14 December 31 Last Date for Ex- change of Stock for United Gas Shares. It Is Announced. By the Associated Press. PHILADELPHIA. December 2 The consolidation of interests of the TUnited Gas Improvement Co. and the Philadeiphia Electric Co. will become effective February 14, 1925, it was an- nounced 1ast night by a committee representing shareholders of the lat- ter company, under the plan of ex- changing two shares of Philadelphia | FElectric =stock for one share of United Gzn Improvement stock. The announcement emphasized that December 31, 1927, i the final date for Philadeiphia Electric shareholders | 10 exchange their stock for sharex of United Gas Improvement. Shares of the United Gas Improve: ment Co. will be delivered to h of {he Philadeiphia Electric Co, cer- tifiGates of depdsit on and after Feb- ruary 14, together with a check for eone month’s dividend on Philadelphia Fiertric _stock. Dividends on the United Gas Improvement stock will begin 10 accrue January 13, 1928, NET INCOME INCREASES. BALTIMORE. December 28 (Spe- eiall—Total operating revenue of the Maryland and Pennsylvania Railroad Co. for November was $79.097.1%, an increase of $3.166.63 over the nk-i month last year. Net railway operat tng Income was $19.727.05. an increase of $5.159.35. For the eleven months operating revenue totaled $377.632.78. @ decrease of $3.950.76, as compared s same period last year, while net| rallway operating income was $174 218.40, 3n incresse of $4,119.99 POST OFFICE BUSY. | BALTIMORE. Decemher 8 (Spe-| elall—~Three records of the Baltimore post offce were broken during the holiday season just ended. They wers the Jargest day’'s stamp sales. amount- ing 1o $53.000 in 24 hours; the great- et number of cancellations in one day, smounting to 4006060 pleces and the greatest number of speciall delivery a4 specisl handling siamps | ever %014 during a Christmas season s PROXIES ARE SOUGHT. NEW YORK. December 28 () — Proxies from storkhnlders of Northern Pips Line Co. are being sought by the Ktockholders Protective Committee, of | witich Benjamin Graham is chalrman, | for the annua! meeting, January 1% The letter »2id a large part of the | company’s capital was not used in the pipe Mne business. hut In an in. | voluntary investment trust. vielding | enly 33 per cent afier income tax. | nd that Dert of these cash assels | shonid be rerurned 1o stockholders for | investment ss lhey wee fit _— | T DOWN. | ember 25 ), | of wlab zine by | nished wbont 96 10's output tn 1978 aginmt 121,174 | 114.71% tonm in Bureau of NEW YORK. D November production enumntries b por went of the wor wak 119529 short 1oy n O -t Keptpmber, the Metn! Siatisticn reporis and "o 25 (Bpeciul) farmers have incressed wn resge hy 9 I The total nyge is 33484900 acriage in the Yiate 18 up 15 per cent 1o 71,000 acres. PORT WORTH —The last of this vesr's turkey shipments (i the North 3 Kast pow hus been Sispatched | e movement 1oLl 100 cark of v Tiye fowls. which sald from vt » ppund on the (ool | PORTILAND. Deceniber CHIC 145 80) 06 Orig. A talr volume | g for (e 1975 wool crop of aomtraciing .-”l;‘n wonfirmed st eaniern Oregon | T The pricen of \hwae contrme ” shmate 30 cenis a poind i 2'epid 1o be the bust In many years. | A NTA —There il e AT atvn of cotton i the Axiin | o the Boyth which vrobably iy Tever be phesed. ‘The pickers ure nui ordng uning’ the holidavs and i | ray be beaten into the ground if seirs and bad weather occur BAN PRANEIRC - Vounber industry s in an The Californis improved year agn vt of tast ) - P on compared wil Proguetion has been und car bt new husinces and - sva bean wyesier Bimbs peted 1o be about normel on Jeny ‘'THE EVENING RTAR, WASHINGTON. NEW YORK CURB MARKET . Received by Private Wire Direct to The Star Office Following is the list of stocks and in on the New York bonds traded Curb Merket today: Saten INDUSTRIALS. i hundreds High! & Bue 1 Buey 1R 1Buf X 1Buf Ni & E 50 Buf Niac & E 300 € & Campbe ACelan Cor Am n 10i 4Celan € Am 1 pf 1R44 1 Cellnloid_Co n.. 114 Celotex s 1, Coneol Coal i 4 Conmol Dairs P 1Consol G Balt 7 Consal Lannd . 3 Crowley Nilner. . “rown Wilm v SR ST H L SEPTICE TN, s 352232830800 R & rgia Pow pf. 1 Alden Coal. 1 SR a kel ZsEaaT L3 SRS e PY- it R 1990 T r Ty i "5;5‘?? 32500 5 i’.: 9% L= 13 .. 5 3 1 Mohawk 1 Monsante Chem 5¥oore D ¥ A.. 27, B i T peme—) 2 H iherling R ifr Urov Stores e I8 Mot b ) Banit Mig 107 in Blocn pia B Blern bros A B 3 tem bir W Bt 10 Rwift a4, Kwfi HINING STOCKS wdreds Pk ) e nel = o CE7 P e R TN o 2 SER32522 8053 330 3! L3 > - s 53 23R354.88 , R T > [ 2 Utah Ape: \ 18 Villbn 4 0. R A Salen INDEPENDENT OIL STOCKS. hundreds. WITAE Con ontfldn . A cal ¢ - i Am iBotAm Ol 10 SRS E T SEAE Sz i e a3 R VD B D pim FATE P ” Magdal Send [ Margay Ol n.. Mex Ot . . - S 5 i FE s Dandem O eiter-Foster Oil Con. o & . hammal oo’ 00 ALl I.obo 10 Buckeye P L. M Contl O 0 Camoerlund Pl 100 Kureka P L. 200 Gal Sig 0.1 20 Gal 8 0 uid'n. 900 Humble O/ & 100 Imp 0 Can 1500 Inter P C Ltd 1100 Ohin Q11 .. 100 Penn Mex " Fuel W Pravtie 0 & & n S Ln 2008 O Nen'n 4008 0 Ohio 800 Vacuum O a in BONDS, thousands. B¥ Ala_ Pow 4 Alum_ Co a1 Am Cyanamid bs | On 108 i ety Rad 4138, . £ 38250 RES5SRIR2EEC =z EEELEL 2 SeusseSsist S G A S EE GEPLEIPES TS SIS i = 535eE : s e A 3 %3 &5 S s 0B Pa st rirenets ) L o= F3) SEiors S8R [ £33 R R h 5 *oap et S22 2 et 3= 2% e LR, § > o cresce Q= 7 ¥ 22! e EE i /: NCpe S e SR Ty 232 (e 0! L 2T e £ 535 55 =25 2g23selt 3 3 2 S ERSLS PPl e Ty Saasisan., ~eBaubiB3, 2EE23 NS R oezeII53 28383 »020cTTE 14 Swift 2 A 80 Transcont 0N Fa 111 24 1 Biscuit Am 68 1001y ind Aige i $3eRESRE 2z 3323332333 Desmark by Firat Bohem W Frea 8t Proa ¥i S NEW YORK Premiums on the December 28 (A)— uilder on the for- exchange market resulted in an itlonal shipment of $4,000,000 in gold (o Holland on Saturday, it he cume known yesterday, The metal shipped on w frelght steamuhip w *{of the Holland-American line and the Wentity of the shipper was not e vealed A whipment of $430.000 (o Hatavia yesterday was announced hy the Karmers Loan & Trost o, More kold shipments 1o Holland are sxpect week ns the gullder now is at 6 pointa abuve SURPLUS SHOWS GAIN, YORK, December 28 UF).~ B Louls Southwestern had suiplus of $377,914 for No agalnsl 8300216 10 November and for 11 months (his v ' 429, u 1,971,434 in the same pe viod last y PR R Thies new hridges are {0 be con sLrusied over (he Thames, PRODUCE ING0OD SUPPLY AT MARKET Increased Demand for Poul- try for New Year Seen " by Wholesalers. Warmer weather today gave the market more of a Summer appear- ance. Fruits and vegetables in large quantities were in evidence on every side, while meat, pouitry, hutter and eggs dealers had attractive supplies of commodities calculated to please all consumers. Merchants have about recovered from the effects of the Christmas hol- iday trade, and business is returning to normal. Tt is expected that irade for the New Year holiday will pick up in a day or two, but dealers do not “|as a rule expect any great volume of business the last few days of the year. 1t is expected that there will be an increased demand for poultry for the New Year holiday, chiefly chickens, ducks and keats, most consumers hav ing had turkey for Christmas. A continued firm condition of the hutter market was reported this morn- ing. while the exg market was not so strong. prices of most commodities continuing at about yesterday's level. Wholesale Prices Today. Meats, fresh killed—Beef, 20a25: 24a26: lambs, 27; fresh hams, ; lolns, 18 fresh shoulders. : smoked s, 20a22; smoked shoulders, 14a16: strip bacon, 22a2 lard, 1213a13: calves, alive, 14ald; lambs, alive, 13. Butter—One-pound _prints, 54a8s; tub, 53; store packed, 31. Kggs—Fresh selected, nery, 48: current receipis, 41, Poultry, alive — wis, small and medium. 23 |pring chickens, 24a25; rooster . voung, 70a7 capons, fancy. h . 4had 38240 ducks, 25a30; keats, §0290. Frult and Vegetable Review. Today's market report on fruits and | the Motked | vegetahles compiled by News Service, Bureau ot Agricultural Economics, sa. Apples—Suppli moderate a mand moderate, market steady; barrels, too few sales reported (o quote; boxes, Washington, mediun to large sizes, extta fancy Delicivus, 00a4.25; extra fancy Spitzenbergs extra fancy Romes, baskets. Pennsylvania, inches, U. 8. No. 1, Stayman few 2.75; West Virginia, U. 8. No. 1 inches up, Jonathans; ripe, 1. moderat w_York. Danish ‘abbage—Supplies mand light, market dull; N sacked per hundredweight. 1.00; Routh Carolina, barrel flat and pointed type, 2.00 Virginia Norfolk section, barrels, Savoy, 1.50: Florida, a bushel hampers, pointed type, sales 1.50. Celery—Supplies moderate; mand_ moderate, market atead: New York, % crates, fair quality and condition, 1. California, crates, fancy, 5.00a5.50, fair quality and con- dition, 4.00a4.50. Lettuce—Supplies liberal; demand light, market dull; New York, % crates, 1.50a2.00; few, 2.25; best mostly, 2.00. Onijons—Supplies light; demand fight, market st Michigan, 100- pound sacks, vellows, U. 8 No. 1, medium to large size, 2.2582.40. mostly around 2.25. Potatoes—Supp! limited; de- mand light, market steady; Michigan, set Rurals, U, &, Maine, Green 1, 120-pound 2. 160-pound sacks, 3.60a3.65, mostly 3.50; Minnesota, 15/ pound sacks, round whites, U N Y4 few . Ni Mortgage Money Loaned at Low Interest Rates Eeonomie Conditions Tyler & Rutherford utual Senefit e e s, 'Co 1520 K Street Main 475 Offices Saul Building 928 15th St. N.W. Keveral very reasonable rents. tion invited. B. F. SAUL CO. Main 2100 925 15th St. N desirable rooma at Inspec. First Mortgage and Construction Loan Applications Invited at 5% % Clover & Flather 1508 H St. N.W. Main 1783 | A Conservative | | | ; ' Investment \ 1 | ODERN fireprool apart- ‘ Over 1‘:0 | 00! cluding large Situated on a prom i Reasonahls cash Ralance ensy (husiness property or paper in part payment), 1 Call Mr. Greenberg 1 Businass Propertios Depr. N. L.Sansbury Co., Inc. 1418 Eye St. N, Maig, 5904 1 i 1 1, 8.16; New York, 150-pound sacks, round whites, U, 8. No. 1, fair quality and condition, 3.00. Spinach—Supplies moderate; demand moderate, market about steady; Texas rginia, Norfolk section, bushel baskets. Savoy type, 1.40a1.50. Tomutoes—Bupplies limited; demand slow, market dull: unknown origin re. packed in New York City, 3-basket carriers, ripes wrapped, fancy count, 50a2.75; cholce count, 2.00a2.26. String beans—&uppli light, market about steady; 7-bushel hampers, Valentines, 2.00; Bountifuls, 2.78. Peppers—Supplies light: light, market dull; Florida pepper crates, fahcy, 2.00; few higher. Squash and cucumbers—Practically no supplies on market; no sales re- ported. Carrots—Supplies light; ight, market steadv: Californin, Went- ' 1y 0. WEDNESDAY, DECEMBER 8, io®. erate, market steady; Western lattuce crates, bunched, finé quality and con- dition, ; falr quality and condition, 8.00a3.28, Caulifiower—Supplies light: demand moderate, market steady; California crates, 2.40a2.80; few high as 2.65. Kale—Supplies moderate; demand rate, market about steady; Vir. «inia, Norfolk section, cloth top veneer barrels. 1.5 Eggplant—Supplies light: demand light. market steady: Florida, pepper fancy, wide range prices, 1.50 mostly 2.00. PRICES ON PARIS BOURSE. PARIS, December 28 (#).—Prics moved irregularly on the Bourse t Th per cent rentes, 81 franca exchange on London, 124 5 per cent loan, 81 The dollar was francs 2 franca 75 centimes. PINXNCIAR. BUSINESS IMPROVING. Conditions in Seventh Reserve Area Continue on Upgrade. CHICAGO, December 28 (M).—Busi- ness conditions in the seventh Federal Reserve district, as reflected by sav- Ings accounts and deposits, continued on the upgrade during November, s report of the Federal Reserve Bank of Chicago sald yesterday. The district, comprising Indians, II- Michigan, Wisconsin and Towa, reported a total Increase of 2.6 per cent in savings and deposits as com- pared with November a year ago, and an increase of 1.4 per cent over the previous month. Indiana led the other States in in- creasing 7.9 per cent over November Refund up te 8§ Mills on Any State, County or Municipal Tax : $750,000 Security Bond & Mortgage Company Series J First Mortgage 5143%, Collateral Trust Gold Bonds SECURED BY GUARANTEED FIRST MORTGAGES ON COMPLETED FEE SIMPLE PROPERTIES Dated January 1, 1928 Prfl:“n attention -~ A siven appli W. H. WEST COMPANY 916 15th Se. Mais 9900 JEWELRY AND FURS ALL RISK Le Roy Goff INSLRANCE 8 Woendward R Due Serially January 1, 19291933 Coupon bonds in $1,000. $500 and $100 denominations registerable as to principal. Principal and semi. i at the Maryland Trust Company without deduction for the amount of H‘: normal %‘:‘dflal incol:::au:'x:;‘:oué‘f’:r)afl‘ cent. Bonds redeemable at the option of the company at any time, upon 30 days’ notice, at por and accrued interest, plus one-half of one per cent for each year or fraction thereof to maturity MARYLAND TRUST COMPANY, BALTIMORE, MD., Trustee Legal Investments for National Banks The Maryland Casuaity Compan, GUARANTEE with capital and surplus of $11,110,692 and resources of $49,334,498.58, guarantees irrevocably the payment of principal and interest on each mortgage. January 1, 1929 maturity. ... price 100 January 1, 1930 maturity... price 9% January 1, 1933 maturity.. WE RECOMEND THESE BONDS FOR INVESTMENT o yield 5.50% yield 5.98% Janaary 1, 1931 maturity....price 99 January 1, 1932 maturity... ..price 99....to yield 5.75% Legal opsnions by Messrs. Janney, Ober, Slingluff & Williams, Baltimore, Md., for the Bankers; and Messrs. Kay, Adams & Ragland, Jacksoncille, Fla., for the Company 103 St Pasl Strest BALTIMORE. MD. The The Testimony of Thousands of Satisfied Investors S.W.ST INVESTMENT BONDS » L4 J-A. . Igiehart & Co. Investment Bankers MEMKERS WALTIMOKE ¥10CK EICRANGE 719 FIFTEENTH ST. N.W., WASHINGTON, D. €. Coal Eschange Buildisg WILKES-BARRE, PA. NALYSIS of our list of clients inthe New York City metropolitan district recently disclosed some in- teresting facts — facts which shed a clear light on the popularity of Straus Bonds among investors. On the average — Golt Building CLARKSBURG. W. VA, Eanitable WILMINGTON. PRL. One out of every 247 in the metropolitan district holds Straus Bonds. There are Straus Bonds in one family out of every 50. One out of every 30 income tax payers is a Straus client. One out of every 15 automobile owners clips Straus coupons. "BOOKLET §30-G 929 FIFTEENTH STREET, WASHINGTON Telephone Main 58¢7 ESTABLISHED IN 1882 State-Planters Bask Bidg. RICHEMOND, VA. atements contained herein are based on information which we regard as reliable and were used by us as s basis for the purchase of the doads for our own acceunt. These facts are not due to chance or accident. They are due to this— that these customers are satisfied with their investments and have recommended them to others. They have been paid principal and interest in cash on the days due. They have received a satisfactory income return. And they have received thoroughgoing invest. ment service. You yourself may wish to profit by the experience of these investors, and investigate. We will gladly send you literature describing the bonds we sell—yielding 5%-6% ~without charge or obligation. Simply write and ask foe & CO. . INCORPORATED