Evening Star Newspaper, January 4, 1928, Page 15

TIN ANCIAL TAR, WA " TRADE IS BROADER [N BOKD MARKET erman and French Issues Up —Interboro Down. D. & R. G. W. Rises. BY CHARLES F. SPEARE. Spain) Diepat b o The Star NEW YOURK, January brondencd today of the active issues were Aithouzh money “enewed at roeent, 1 has been quoted at ent or highe st week, t of this on 1 secuti 4 fuis | oder ¥'s mar in German and tive trading at Denver & d a decline in Thiansit issues, rman municipal utility bank honds was ate, but it follows a gradual ap preciation in the market values of this group over the past two weeks. The municipal 61 and 7 per cent issues were up 1 to 'z United Steel Works €135 made & further advance of a point. and the unlisted 6igs were strong. Deutsche Bank 6s. which have been under pressure, moved up about a point, and the government 7s were fractionally higher ench municipal 6s are back to about par for the fir 1ime in some weeks, Department of Se'ne 78 rose ahout a noint and the government T1;s and 7s s to %. S an- dinavian, Japanese, Chiean, Aizen ine and Brazilian bonds wore firm 3 Pooi operations were hehind the of 213 points in Denver & Rio > Western 58, which sold up to i with the best previous ’ ry ‘1 the ac these ho will nt and fn 1929 tixed on the nings. the 11 November 30 the net rev s of the road were $1.300 00) be the same period in 1 has be a very libe n the way of improving ¢ out of earnings and with the n connection with per cent honds is possible that 5s will be in ce fi the st issues pric Western terboro R > recover: 58 it in and Dbecome a rement of & ng on June 1. on the new auzurated this 3 1 roro Repld Tr 5s dropped down to price for this movement, broke 2% points to 70 but later ra 13 points. Holders of these honds re disturbed by the publicity 1o the unfavorable aspects of t panv's affars and have g liguidated them The :ndustrial members of the list were mostly hicher. Dodge 65 held their advance and there were gains among the metal, iron and sugor. ruhber and of! issues. Public utities. both of first and second gr- reflected a demand from Mhstituions First mor'gage rafls and United States Government bonds were firm. Washington S;ock Exchange‘ Sa'es. Capital Trartion Co.—10 at 10915, 10 | 10 at 1093 = pfd.—5 at 1081, 5 at 1084, 5 at 108K, 6 rt t 10835, 10 at 108%, 1 at| at 10835 1 at 1091 20| Mergenthaler Li Peonles Dr. 40| at 1 i | Eani 0 at 105, 30 | at 105, 105. at 1047%, After Call. Nat'l M. & Inv. pfd.—100 at ¥3, 20| at 51, | Capital Tract. 55—500 at 104, Wash. R. & E. com.—10 at 457. Pot. Elec. 6 pfd.—5 at 111%, 5 at| 1%, | Wash. Gas 6s “A"-—-300 at 105%. People Dr. Str. pfd.—20 at 122, 20 at 122, Sanitary Groc. Co. pfd.—20 at 1047% 20 at 104%. Unlisted Dept. Miller Train Control—"0 at 1. Nat'l M. & Inv. pfd.—50 at 5%, 5 50 at 100 at . 40 at 51, 20 at 5%, at 5%, 60 at 5 Cap. Tract. Co,—10 at 109%. Wash. R. & E. com.—9 at 458, % at 58, Money—Call loans, 5 and 6 per cent, Bid and Asked Prices. BONDS. { PUBLIC UTILITY | rican Tel. & Tel. 43 Aerican Tei & Teiga 48 & Tel ctl tr Det L &P k it Telenbone Tel of Va Traction 100, 108 103 i 14 3 e Potomae Wark Alex Wash Alex L | 10 MISCELLANEOUS T & o wop 8 fix be & s fin Park Howl Ge STOCKS. PUBLIC UTILITY Te) & leles Cavityl Traction Wakhigwn Gus . Waeh B boat oKch ofd e ¥l o ' E Vovomu: Fle Wl Howy Wasis, By & 13 101 NATIONAL BANKS tul o ianies of Wk COMVAN rust Co > & Trurt W BURANCE RO | ~an Paulo 1960 | vokonata 4 w | | | i 4 | iomivews ue rets ! ON NEW YORK UNITED STATES. (Sales are m $1 000 ¥ mier HIKD oW 86 W01 2 101 20 103 14 103810 100 19 100 1< 108 2% 1050 107 30 1102 4 1521 FOREIGN. Clos 101 20 10310 100 1 10 2! 10 w0 107 50 1o 3 11523 1oL 4a Lb Ist 4%s LIb 3d age Whatn A US 3443 43 USiys Arzentine 58 o8 Ju 0¥ ne 68 O0t5y \reentine 6s A Argentine s B Australia o 1955 Austraia dn 1957 ' 92 100 1000 100 100 004 10 100 i 00w g ey Louty 04 100 9 974 6 40Tl 101 97 $6% 1 18 ' 0 10 P3N biw vlibe JIUCEN 04 TN 1oty 1oy e 1044 o 105ty 107% Yo'y 1001 1064 108% sanvia Sorden Hrazi 8les arasn is irazi Xs Stat, s Altes 867 enos Alres is 68 anada 0s 1934 Anaaa os 1963, n o tys 1929 nle s 1943 L Nite ¥s 1946 Diuese oy Ry by on 1'ow Jupan is vpennaen o8 ct ubs ot ..., cochc 81961 . Czecho 862 . .. aniah Mane X8 A wsh Munie ¥x B erinatk s Uk 1 2% Nov 63, VuLeh bast 1 8x 41 uteh tast & 8y 63 i Saivador §s 48, | €inana s ¢ 6 ©intana is Framerican i 8., ©rench (8 crencn (i French¥s ....... lerman K1 P 6%s erman 1 1 Ami HBank I8 1 en Eleo 1 ireck is Haiu6 tHungary 1% ituly is italy Pubis., iapanee tabanede owe. . wyon vy “ee terge s U M 6s 47 VRl 68 < Mexic U 45 04 3xnta Mexinu 4s 10 1sn1a Mexico 53 130td Milan 6igs Montevideo ¢ Nether ands 69 60 wora s | Yorway olgs Notway 63 1343 SOrway 68 (944 .. 68 1952 rent ey 1eb 68 Fis Ly Mea ¢ varis Ly Men is t'aris riesns is.. o RPN i 102 Wik I 110 TN i Wi e 1054 1075 a0t 10uty 1065 Lot 116% 1104 o™ 1k 100 w04 o4 100k 10t K1Y v Slouruuiat 1 Win ¥olu 1004 TN 106™% 16 (104 957 106 HY% 104 o' 100 1004 102 o 6 wln u2h i U 104 100 7 o 268 104 404 vzl oin it 102 w2 wi w3 100% 0 e 0.5 10:1% 104 103 038 w2k 1021 Yoly 164 Y6 6% 103 12ty 6 101% 101% 10t 108 106 o 106 U6 1064 ek 0 504 by 17 1 105% 'oland 7s trets) randvs Jueensiund 6s . inineibe Un (s vz 106% 106w 9% 05 YTt Yotk 15 wi 104% e 76 sy Ll ¥% 1o vhi 340 Puuiu 8 1931 saxon W e sweden S48 . Swedrn Swins b bys 1941 Swiss onted K iok1068 ..., ukiu b8 196, 10 Kinkin o Wys 37 14 Bream Copen 8 Uruguay 88 1o R MISCELLANEOUS. we 0Ty Wota A% 1025 102% W21 06% 105% S N [USPTERN whla 3% Y 08 10101 ¥2o vl Bk 10,k 12 112k 1% 124t 9in 8T 10-% 101 10.% [N 10.5% 103k (0.7 105 105 67 10a% w6y "0 106% Y%y o'y 101w 'y 104 Tee ye "e win b Ajaz Ruu At AKEL Do Am Hepub ded 68 am | Am Suxar ret snmlelo Aaml&loiuoe Am L% L et o Am L& 1 tet by Am Water Wks 108 vi% Wen Wi Wole Yyih ol 6 8 wi ik 1054 na cv 1b Is Anues up (8 ret AFmour&i’o ¢ ye 3v AT e 3 atisotic Hefin 68 | cmrusaali on 1980 | 1sell Tel Pa ba C ot Slee. seth Stee: 1 b dotn Hiee. oty sotn Steel . HKIYD 150 cen b8 “4RIvD Union » ush T Bidg b Copper bs Jumi MO 1t be w9 [N ik 10 iery Dby Ie et kdiman s 40, , “irieh 8 e yin 102% 10.% vB Wb 1UU% Ol s 105 10BY 1054 Wk 1A v Humibie 1 ue Htibie % KA 1itunie Mol 1 1 1" Wo'a [ 10, 10 103% i 106 0 "o b Pl e i n1 Vit 10y 1 0 eia e 4 ye 1Y I hureer 410 blge IRy Y] | et b ke a2 s e b nign by artineg ¥y oom canitiard P)ie . oy Vobatieun n iy VbR el e YOEL WAL te T 4 oy " . ne ey 4 162 0 Wi 1hi Wy Vi i Wore s o N 10 14 2 “ AU e uln 1058 e 10 s 5 i 1045 104 e "oy 174 Vi 10w 0o 1kl 1o T02sy % i U 0 104k e 104 10h 10 o o's ~ [ s Iy .y det A b P A e | won miata v by v States Vow s 10! 104 106% Vit 104y L e 106 02n e 10 0% v 91 1044 . 2% [T V&Lt he A LWl emok A A e Veupies das e bie e 48 R T S SN Y T erie Arw 10 Viurce il dehids 4 Vb Mo A Lol 88 8y vere 2 bav atye by bar ine b8 104% 1044 [ues 10 106 1024 o4 1020 e % i 1on 104 0, we 1 [ v ey P “ors ' " " i udly 10 101 4104 10an i i 10My 1iny 105, 10 whigg i 10517 406 Wi e he "ine 4o Mels Pul b bwmar A Aoy w Vw he an w18 v e O UB Ky e [P 1018 1164 | toens Vniien e ooty oy 10ty W I 1oty | Sates Hieh Low 1] S Stes! af bs 1Ah Pow © Lt 58 vartiantes Sup (s 1 warner Sug Is 39 W st lee by Wastn 'nton % e Wearinehonse ne Willya Ov 8 n 83 \tean B o tet Ae Winchester A 7148 B 104 G 1010 oy 101% 087K o'y 90y 9y 87 ®1 101 104 e 2 1 102 101 1074 106% 102 RAILROAD. Atohison ady as ATRN K ovt N 11 5 61 n gen o8 AtAntIe C o) e Atantie | laran At1 S Dan A an 48 Ann Arbor 48 ... e oretts W et fear R R URITTN » S el imr G HEDPLEWY 4e W Tolad Rane & Aroos 4= /1 Rrooklyn Blev 61gs Hrawsy & 'th Av n Hk'vn Munhat Rs A R & Pitr a%s ‘an Nat ela b4 “an Nar 4148 67 ‘anad North Rlgg ‘anad North 7s anad Pac det as N Pan 1le o8 “ar Clinch & O 5y A Hnen&c R 62 ntral Pacifle s n Pae et 4e 40 hes & yn Mholie benivige “he & Alton 3w hi & Alton tiea The & At thectts ‘ht H & Q ewn ¢s 53 CREQIYeITH iR & O e s CB&Q 3% “he & B 111 @n e 81 *h1 e Wast 48 60 TMESIP ax 75 oty CM&St Pdbds.. CME&SIP deh 4s cfs CM&SIPen8y . TM&StPovey TMERPevE Katze TMA& S Pandlye IOMESPrrays SMESP f 4 lon of C M&St Pev MRS PR h1 & NW een ds i NW 4 tn 2037 hr & NW Rl4s h & NW T "hy Rvs fis © . hiR1&Fan 4 RGP e TR1Pac 4wl TMTHSSEAn T H e &s &0 hitin Sta 4ls h [inion Sta 58 44 *hi tnton Sta B4 & W (ndendes o AW I SleRy N & StL S8 % St Rs A ov Term fin “lev Term 5% s “oln & Sou 4% 8 “uba R R B “*uha Nor 6 scts. . Dal & Hud 5l4e Del & Hud 7s 30 1 Rin (3 West b8 Erte a1 cons 4s ¥irie gen 43 “rie conv 48 A 1e conv 48 BB 1e ove s 67 wi Krie Genessee R s 7 Wia ke hm 14 114 Trunk «tdh As 11 irand Trunk 2 it Nop irent North 4\4aw Iraat North S ireat North fls. Ir Now can Ta Hav EI Ry 5%8 51 Hud & Man ret Gy fud & Man a)bs . 9 319 1 a5 64 168 151 111 Cent ref 48 11 Cent 48 52, 1icent 4 53 1Y Cent 4% A8 111 Cent Chi 4% 11 S &NO By (nt Rapid Tran 6s I Rep 't S8 xtpd int Rav Tran 6 It Rap Tran is int & 73 Nor 1st Gs It & 3 Nor ud fs Nt iya o A S 72 Int Ry © A Gles ret towa Cent rf 4s Kanws ity 8 18 ansas ity 8 by Kan ity Term 4s ke Nhore 48 28 1 b Vaion & highVal con 418 1A Naah nt h 1 Man ity 1st 90 ket 81 (w40 S Ky % L 68 b)Y MItEL Ry & L 60 6) MST 6 NRM o ey M St PASSM on 6 AR e AN At MNP & NNV A4 MK KT I8 48 MK&T B, M & [ adibe MK&TorinbeA Mo Panitie wen 48 Mo Pac be A 85 (&) Mo e b K17 ant Mob & Ohlo ¢%48 77 17 ELl 1 " 12 1 1 2 1 F 207 3 11 Nannay £l 4081 NO Pex s MOs B n uen Athe, NYCrfimys hn 1 nt deh e El N Cent LBl d%r | AYORRIL alesA 10 NYChIGRIL bipuls (] CHA AL NY N Havk Hays 2 NY N Haval el 8 1D NV o W oe e 0 NV St s o 4 AT 2 VVHtatelty 41487 MY WK e Y Not & Buaen on by 2 o B 7 1 NY OBW wen in kb L 4 i [} e e shoart | efh 48 dro Short | an he e Wash 1 s Vannayl aon ¢ e ... way o 84 ay i Ie Vare Mur w1 45 66 wiw siara lel b PO R om A 1ort L&Y Tiae 46 ot Haadinp )t W () W 18 e ol Went al 48 UIATH N tae WL IMaE i " SO MAE e ) IBCLRIC TR Ll PR LY W LN e KAk hRell U EIETIE T wi e n b ew BY 20 rt 48 Eh e SHCAL KD e (R A AAL KL e 4008 S e e ' TR Anu ue Awna 11 " TN " Ao My He b | Anuthern iy Ai4e Perm Auni H ) 48 l Von & 1ao he 1T rim 6 Thivd Averel 4ot 1y I 03w asy a9 AW UK T T 81 Nt R 100% 100% 1047 1011 109t 1001 107 "n b oan « I 87t ot 9% 0ty 87t 984 100% 1007 100% 100 1215 "e 0y 101 105 1081y 3 01 208 0w 61 f0Y, 98l 10 10814 o6y 106% 1664 90 8% 1094 ' " TR ia by " iy T 1% 01w 10 10414 Wooue e [ Raceived by Private Wire Direct to The Star Osice Clow 1081 01 201 81 1001 104 10516 | 0 1 1484, " RN v { uncha | bondholde | Noew tas comy ! Wesr aa | puying Sales High Third Ave 1at 6837 6 ., NI Ave o) v nian Pac st 4s Cnton Pae 1st et n e 48 67 non 1P ov is reinie Ry it 68 4Ry & Vhe Wahash 2d 68 .. Wabash be 76 B Waent Muty oand 48 817, Wastern Pacine b 100 Weat Shore 48 2381 10 Whel & L 5 rf 4168 2 RAW SUGAR FIR tures Market Irregula Session—Refined Unct NEW YORK, undertone p market early reported at 4.58 P U VTt 100" 1004 109 07 nuar. fled toda and for « rme sugar paid The hoonly raw futures 1 during the foren © moderate trad vy noticts were to some liguidation il from the spot to the n positions. Prices for activ showed losses of 1 to 2 there was enough cove to cheek the d followed. The net 1 point tial rallies midday was 1 point lower. Refined s 5.73 to 5.80 for fine continued good w was une ki drawal CONVERSION STOCK The New Haven Rail misson today from the ‘ommerce Commission to d in its Treasury § stock. While t demand for the ond is obligated nmon stock on den s an issue of a | debenture honds now « the nission’s ac will be in k in case 1 dholders common rai nto ¢ of Haven the st uee 1 conversion furnish heir ng line and par- jon ¢ STITNGTO Low Close ah G 984 1T 1001 1004 10 101 1034 1034 NGy 102 100ty 02y 07 MER. r in Early hanged. 4 P)—A in the raw v, but no fcos were uban duty narket was oon s Sleven ued, which A exehang wre distant © positions points, but and trad rket her m; hi at to changed at itesd, with a démand, 0. K.'D. 1 ot per Interstate create and 9,600,000 in new | 40e8 not Include those messages sent here is no securities to convert pand of the ike amount itstanding v th cadiness to narket con to exercisc privilegex, POTATO MARKET STRONGER. 'y 4 (Ur of Agricult s, 65 cars; on States ship rand and moveme tiy stron und whites, her; Mic G0a1.70; T4 ted States No. new A her; i3 nited St ure).—Pg track, 1 ments, 532 ‘nt improv r: Wiscon al 7 acked tho sacked 98 otatoes 1oo 24,000 ASK COMPENSATION. Spectnl Dispateh o The BALTIMORE, Jany thousand Mar wpplied f compensation estir 1 by umes commanc s of Foreign Wa Ftimated at $11,0 out during the year ry nd the ( wsted v was World 1. —Twenty Wir iovernment aring 1 Robert ler of rs. Insur. A. Building Shows Increase. pecial Dispateh 1o The Star LYNCHBURG uilding pared with $1.0 he past yvear ther rd with 76 December of the past 11 permits for new w it pared additic were ) for It vear thore ork und 17 with 21 for BUTTER IS LOWER. CAGO, ‘4 0 ipts ©tan; hanged, on ) tubs s, Ipts, PRICES ON PARIS BOURSE. PARIS quieter January on the rents, ge on centimes per 90 centimes, 4 Bo 83 francs | was quoted at 25 francs 413 (2 London, tond. ne urs [ 124 t woan, 4 centimes SILVER QUO1ATIONS. YORK, January NEW § Mextean dollay 4 (#).—Bar 8, 4405, COTTON GOODS QUIET. NEW YORK, Junuary 4 Cotton goods markets w autet today at unchanged y © quoted at K f o for % by 728 silk market continned close ( oro i ricen. Pring r U4 by Gox The raw A today. CALL MONEY EASIER. NEW money easier ruling rate, ity i bl loans steandy; mixed colla dayst, 4340 46 months, Mercantile Paper, 3%ad Yol January 4R low, 1, 4% teral, i SHORT-TERM SECURITIES. CRenorted by J & W, Selignn I Allis Chislny Alum ¢ Brom (s Gtya i . The win lest out 20 foot whiles grof Lo DNON, wankeed IHY Annets . Sucriptions for the 94th lssue of Stock Be Resolve Now— to Jom the Fanitable's Syates Savings plan and stick to matic it O mitter ing for cducation wha a home you'll Feguitable’s plan a helping hand to accamulate o wn & Co ) Nown m Oter W D to be e it e N Presldent 0 5,202,042.70 Lyou are vour chile find money, ston | | plex™ printers, according to officials of | 11.70. | the | was | 'NCREASED PACE IN'BIG BUSINESS Private Wires and Phongs Helping to Solve Prob- lems of Today. BY J. €. ROYLE. I Digpateh to The Star NEW YORK, January 4.—The pace of American business has increased @0 fast that the ordinary transmission of messages by telegraph and éable, despite the recent improvements, no longer meets the requirements. This was the statement made today by of- ficials of the gr communication ms of the country and by busi- men actively engaged in country wide and world-wide operations. According to hoth these authorities, there has been a decided trend toward the installation of private telephone and telegraph wires between the of- fices and homes of business corpora- tions and executives and the central transmitting stations of the egraph cable and wireless compani Many Over Private Lines. Of the 200,000,000 telegrams handled by t Western Unfon Telegraph Co. |in 1927 at least 11,000,000 were han- | died over private lines from the office |of the sender to the main office of he telegraph company. This upplies | to business communications alone and |ana delivered over privato telephones | where the charges were collected by the tclephone company acting as an | agent. During the next two 5, Western Union officials declare, the number of telegrams delivered over » wires will be doubled. Iach communication companies thousand private lines which run from business conc to the main offices of the teleg compantes. The majority of these are telephono lines, but nearly as many are relegraph lines using the Morse system. The use of the “sim- one company, is grewing steadily in the offices of its patrons. This is an automatic telegraph method. Since Americans use the telegraph | in business to a greater extent than v other ion, it is natural that thy should take advantage of the { additional saving of time made pos- ible by the private lines. It is esti- mated that Stock Exchange members ing private lines can make u in San Francisco in from minutes. This plan naturally recommends itself to the big bank- ng houses, to whom a few seconds' | | time way mean a difference of thou sands of dollars, Split-Second Banking. This is especially true in the case of arbitrage operations. Arbitrage. or “split-second banking” as it is called, has been defined ax “the calcu | lation’ of the relative value at the same time at two or more places of rcks. bonds or funds of any sort, including exchange, with a view to taking advantage of favorable circum- ances or differences in payments.” wturally, many of the arbitrage op- erations are with foreign_ countri and these lightning-like activities fre- quently Involve millions in a single | operation, Financlal th the cabl one or teleg gnals almost Institutions connceted affices by private tele- | aph wi can send instantaneously from New York to London. The time re Guired to transmit a cable depends therefore, on the number of signals o letters involved in the message | Most of th cablegrams are in code perhaps five words, ablegrams a minuts iy a common performance to- id the ordinary time for send a_message to London and getting & reply has been placed at less than three minutes. It is to take ndvan > of this speed that varlous con | corns are now installing private wires | W YORK, January 4 (P).—In Corporation declared an extra | |dividend of 25 cents on the common | stock and the regular quarter} ul‘[ cents, both payable February 15 . PRATT & WHITNEY. NEW YORK, January 4 (P, —Pratt | & Whitney Afreraft Corporation ship ped 263 aviation engines during 1927, s first produetion year, which, with apare parts, involved $3,000,000 Orders on books, with contracta negotiated and pending, amount to almost §6,000,000, | FEDERAL LAND BANK BONDS " Alex lrown & Sons aturity i Ax (IO tertyy Clomiig + TREASURY CERTIFICATES (Repurted by ). & W Seligman & Co Matit 100 100 1 i FOREIGN EXCHANGE. tQuotations furnished by W. 85 Hibbe & Co.) nal gold Nelling checke NrRI tulay (EL) g oK ¢ LN AN Waon, erown Sockholin, erown Tnfurlons Insects coxt the Provinee af Quebeo §10.000.000 a year by thefr L ident uction of treen. WA RN PRAY Hih VEAR €O Nurplus ‘ers Ky Iren's the Start | | INTERTYPE DIVIDEND. || R mice fll.\l AL com s »P0. 9T v SHARE ANALYSIS, What Is Back of Each Sha Total gross ssets ... Deductions : Reserve and other obligatios *Net for preferred (in terms of com- 1020 K00 a splitup of stock (3 for 1) f!‘:‘ 27. The new stock pays .50 It ia reported that crop this year will be the largest in history. No change in divi- lend rate immine In period 1910 in addition to segular dividend of $5 to 37 there was a a dividend of 42 per cent and the total « tras amounted to 8335 per cent. *Preferred and qommon share amount of uasnts (Conmuit your banker or vroker for fur- ther, Informaticn as to value back of this stoc] alike in FREIGHT TRAFFIC DROPS. NEW YORK, January 4 (P.— Tho Chicago, Milwaukee & St. Paul handled 150,214 carloads of freight in December, against 139,314 In Decem ber, 1926, The frelght movement for 1927 was 2,081,804 th year before. December car loadings of the Chicago & North western were 143,648 exclusive of ore against 160396, exclusive of ore December, 1626, UBCHASE;LAN. January 4 ) v Ward & Co. vesterd ounced a profit-sharing and stock- purchasing plan_for its 15,000 ployes. George B. Everitt, president of the company, said the plan pe mitted employes of more than a year service to acquire stock at cost, gi ing them five years to pay, meanwhile sharing the company’s dividends and profits, The plan was effective Janu- ary 1. WHIPEET CARS REDUCED. TOLEDO, Ohlo, January 4 (P — John N. Willys, president of Willys Overland, tonight announced price 1o ductions ranging from $90 to $200 on the various models of Whippet c FINANCIAL. 15 TOBACCO WORTH MORE Tobaceo growers will fare better financlally from thelr 1927 erop than in 1926 aithough the acrenge this year 15 46,200 acres smaller, The crop was valued yesterday by the Department pof Agriculture ut $34,000000 more than last yenr, and the nverage return 'wrrn(-rfi at $165, or §25 Year National Savings & Trust Co. sllt The Oldest Savings Institution in the District of Columbia Cor. 15th and New York Ave. T - st Trust Loans An Amannt 0 C. and Montgomery County large Comstruction Projects 'l FRED T. NESBIT 1010 Yermont Ave " Capital and Surplus’ $3.000,000.00 Added Yield —from January funds will result from denositing your, Interest Coupons and Dividend Checks at this interest-paying bank Why keep such capital idle during such time as you require to reinvest? Rame Rate of Interest paid on large and small @ccounts Safe Deposit Boxes at Reasonable Rentals l Over a Third of a_Century's Experience 2,074,621 carloads, .’Lg-’l!nfll! in! Your Rentable Property Are vou overseeing it vourself? Do vou find of manage- ment an irksome tax upon your time? Would vou welcome relief of a sort that would save you both time and worry and still keep your property heading toward higher levels of income returns? You will do well to con- sult us. B. F. SAUL CO. fain 2100 925 15th St. N.W. CONDENSED REPORT OF CONDITION THE RIGGS NATIONAL BA OF WASHINGTON, D. C. AT THE CLOSE OF BUSINESS DECEMBER 31, 1927 Banking Department vings Department Trust Department Foreign Department Credit Department lax Department afc Deposit Department 3¢ ON SAVINGS Main Office Penna. Ave.. Opposite U. S. Treasury Branches Dupont Circle 18th St. & Columbia Road 14th Street & Park Road 7th and Eye Streets N.\W. Safe Deposit Box ) be rented for a mominal charge at the Main Office, Dupont Circle, Northwest and Park Road Branches, and Silver Storsge at the Du- pont Circle and Park Road Branches. RESOURCES Loans, Discounts and Inve Bonds for U. 8. Deposits. Bonds for U. 5. Postal Savings Deposits. . Bonds for Other Deposits. Banking Houses and F tures s e Due from Bank Cash and Reserves.. Capital . . o Surplus and Net Profits a Contingencies 5 .32 634.73 267824597 170.783.36 142127417 ents. Reserved for Taxes, Interest and Depre- ciation DepoRte Ll Agreements to Repurchase ment’ Bonds Sold.. . 0.5 U. § 232, $8.275,198.09 HE Civil War was not so much a contest over slavery or constitutional rights, but a struggle of hostile economic notions. Before the War the economic philosophy of the country was mainly in- spired by Southern agriculturalists. After the war it was completely dominated by Northern industrial- ists. True reconstruction of the South did not occur until it had accepted the industrial order. The House of Hambleton has always maintained close relations with the sometime Confederate States. Between 1831 and 1861, the South was the mainstay of its wholesale trade in drygoods and linens, During the War Thomas Fdward Hamble- ton, the younger, put his capital into and managed a company of blockade runners. After 1868, when the Hambletons turned to banking, alarge share of their energies weta spent in the development of Southern enterprises. Today, one of the leading ac- tivities of the House of Hambleton is the financing of public utilities of the new industrial South, HAMBLETON &= CO. SOUTHERN BUILDING BALTIMORE Entadlished 1808 -~ W PHILADELPHIA NEW YORMN ASHINGTON, D, C. CHICAGO N et PNt N e M N N Pt ™ e e P e S = e P et S e