Evening Star Newspaper, January 17, 1928, Page 14

Secur J | 5 2 14 ¥¥ Money to Loan firet Alling nterest and_com: by M& 1. Wellergii, M5 CHURCH LOANS s to handle - atenellonloans £0r Chinrches and Instite: tions.—Phone Main 5644, 1st Trust Loans Any_Amount D. C. and Montgomery County Large Construction Projects FRED T. NESBIT 1010 Vermont Ave. M. 9392 iasion & MEMBERS New York Stock Exchenge New York Cotton Exchange Chicago Board of Trade Stocks and Bonds Bought and Sold for Cash or Carried on Margin THE MAYFLOWER HOTEL | Connecticut Ave. at DeSales St. 1581 | hone Mai Offices . Saul Building 925 15th St. N.W. d ble rooms at 1able rents. Inspec- d. B. F. SAUL CO. Main 2100 925 15th St. N deed of trust on real estate. # T " Mortgage Money Loaned at Low Interest Rates Economie Conditions Tyler & Rutherford Loan Correspondent Mutual Benefit Life Ins. Co. " 1520 K Street Main 475 APPLICATIONS INVITED FIRST MORTGAGE LOANS On Improved Real Estate —for three or five year terms at { prevailing interest rates. Lincoln National Bank Washington, D. C. First Mortgage Notes BEARING INTEREST AT 6% | Secured on Residences in D. C. Member Mortcage Bankers' Assn, of America. Washington, D. C. Money to Loan in Any Amount —on Real Estate in the District of Columbia and vicinity. ffWe charge Lowest Interest and Commission —give your application prompt consideration. §5# Conference and cor- respondence invited. THE COMMERCIAL NATIONAL COMPANY | Paid-Up Cash Capital, $700,000.00 Commercial National Bank Bldg. 14th and G Sts. |ON HOMES 5Ya% 5 Run for five years with- Interest out curtail- ment. | Wm H Saunders Co., Inc H Founded 1587 Main 1016 1433 K Loan Correspondent for the Provident Mutual Lij Company of Philadelphia Continental Trust Co. 14th and H Streets Capital $1,000,000.00 Checking Accounts Savings Accounts Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Acceptance Credits Collections * Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes .Continental Trust Co. | 14th and H Streets WADE M. COOPEK, Piosideot Capital $1,000,000.00 ‘FINANCIAL , . BANKERS WEIGHING BORROWER DATA Harley P. Wilson Is Added to Board of National Sav- ings and Trust. BY EDWARD C. STONE. Annual meetings of the American Se- curity & Trust Co., and the Munsey Trust Co., today, a similar meeting of the National Security & Trust Co., late yesterda d session of the District Bankers’ Association last night formed the highlights in the local financial dis- trict today. The first two trust companies men- tioned re-elected their present boards of directors while National Savings & Trust added Harley P. Wilson to the di- rectorate to fill the vacancy caused by the death of William E. Edmonston. National Savings employes today re- ceived checks cavering 15 per cent of their salaries for the year voted as ex- tra compensation by the directors. At the Bankers' Association meeting the most important action taken related to the obtaining of additional informa- tion regarding the financial condition of bank borrowers. In the past some of these reports have been so vague that they were of little value and it is to remedy this situation that the banks will turn their attention in the near fu- ture. A Fine Year for American Security. President Charles J. Bell in his an- nual report to the American Security & Trust Co. stockholders said it had been the best year the Institution had enjoyed in its 38 years' existence. Gross income was $1,631,162, leaving after all deductions net profit of $698.261, or a return of 20.537 per cent on the capital. Of the net earnings $510,000, or 15 per cent on the capital, was distributed in dividends af‘:d $188,262 added to un- divided profits. The following were elected by the stockholders as directors of the company for 1928: C. A. Aspinwall, Charles J. Bell, Harry K. Boss, George W. Brown, ' THE EVENING STAR, WASHINGTON, D. O, TUESDAY, JANUARY 17, 1928. Abrahmé&Stras. . Abr&Stras 7%pf Adams Exp (8). Adv Rumley... Adv Rumley pf.. Ahumada Lead. Afr Reductn(17) Ajax Rubber.... Alaska Junea. Albany Papr(2) Albny Pap pf(7) Allied Chem (6) Allis Chalm (6). Amal Leather. . Amerada (2)... Am Agricul Chm Am Agri Ch pt.. Am Bank N(13). Am Rosch...... Am Br Sh(j1.60) Am Brown Bov. Am Brown Bo pt Am Can (2)... AmCar&Fdy (6). Am Chain pt (7) Am Chicle (3).. Am Drug (80¢c). Am Express (6). Am & For Pow... Am For Pwrrts. Am&Fo Po pf(7) Am Hide & Lea. Am Hide & L pf. Am Ho P (240) AmIce (1233). .. Am Internatl(2) Am LaFr&Foam Am Linseed. Am Linseed p! Am Locomot(8). Am Loco pt(7). AmMa&Fy pf(7) Am Metals (3) Am Piano. . Am Piano pf(7). Am P& Lt(f1). Am Radiator (5) Am Republic. .. Am Saf Raz t Am Seating (3). Am Ship & Com. Am Shipbldg (8) Am Smelting(8) Am S & R pE7). Am Snuft (12).. Am Snuff pf (6). Am Stl K'dys (3) Am Sul Fy pf(7) Am Sugar (5)... Am Sumatra. Am Tel & Ca William M. Coates, Willlam S. Corby, William W. Everett, William J. Flather, jr.; M. G.Gibbs, Cary T. Grayson, James )y M. Green, Gilbert H. Grosvenor, J. H. Herrmann, James F. Hood, Joseph Lel ter, G. Percy McGlue, Edward B. Mc- Lean, Howard Moran, Clarencz F. Nor- ment, Newbold Noyes, Howard S. Ree- side, B. F. Saul, William E. Shannon, James F. Shea, Charles A. Spalding, Corcoran Thom and John F. Wilkins Organization and election of officers for the coming year was to take place this afternoon. Munsey Re-elects Same Directors. According to C. H. Pope, vice presi- dent of the Munsey Trust Co., the in- stitution has experienced an excellent year. At today's annual meeting these directors were again placed in office: William T. Dewari, Charles Denby, C. T. Dixon, Charles B. Hawley, J. H. Himes, G. T. Hodges, jr.;; Arthur G. Lambert, Wilton J. Lambert, C. H. Pope, C. D. Ratcliffe, Franz Schneider, jr.; Alfred P. Thom, jr.; R. H. Tither- ington, Fred A. Walker, A. R. Watson, T. C. Willis and R. H. Yeatman. Following the election of directors, the following officers were chosen for the ensuing year: William T. Dewart, president; Wilton J. Lambert, vice | president and general counsel; C. H. | Pope, vice president and treasurer; C. D. Ratcliffe, vice president and as- sistant treasurer; T. C. Willis, secretary and assistant treasurer, and P. J. Mc- Mahon, assistant treasurer. National Security Elects Wilson. The only change in the board of di- rectors of the National Savings & Trust Co. at yesterday's meeting of the stock- was the election of Harley P. Mr. Wilson has large utility nald 8. Huidekoper, Victor Kauffmann, Edmund D. Rheem, Frank Stetson, Frank W. Stone, William H. Walker, William B. Willard and Harley P. Wil- The directors organized for the year by electing these officers: Willlam D. Hoover, president; Woodbury Blair, first vice president; Frank W. Stone, second vice president; Frank Stetson, trust offi- cer; Charles C. Lamborn, treasurer; E. Percival Wilson, secretary; Frank R. Ullmer, assistant treasurer; Bruce Baird, assistant trust officer; David Bor- net, assistant trust officer; John W. 3 'A. J. Fant, assistant secretary, John M. Boteler. and Audiey A. P, that the company was in excellent condition and that 1927 proved to be the best year in its history. Bankers Make Important Move. The first night business meeting of the District Bankers' Association proved @ complete success. About 150 members gathered at the Willard, President W. W. Bpaid was in the chair. The most important action taken was the pessage of a resolution aimed to obtain more definite information from | corporations and individuals who are constantly borrowing from the banks, The information now being furnished, it 18 held does not go far enough. | Many bank clients make reports on | their total assets and thelr labilitics and inciude some other facts. But the data does not tell the banker what | profits or losses have been shown dur- | ing the year. The banks want the profit | information. If losses have been suffered |the banks want know the reasons. | Operating statements in addition to the | financial statements are 1o be request- | ea and it is believed the data on opera- tions will greatly simplify the problems | connected with making loans. In substance, without attempting to | quote the exact wording, the resolution’ said: “Resolved, That the members of tnis asociation Tequest operating interests | in addition w financial statements from | their borrowers, and that the commit- tee on standardized banking forms con- | stder the prepuration of operuting state- ited w the various classes of | business.” A resolution slso was adopted extend- ing the members’ sympatiyy o Maurice 1. Wusenberg, president of the Bank of Commerce & Bavings, in connection | with Jis recent bereavement, | Local Market Session Lively. “Trading was very active on the Wash- ngon Buwk Exchange widsy, Peoples rug Bores preferred leading the niar- L Eaghty shares changed hands dur- ug the session, IU opened sl 122 wnd clsed @t 121, Pederal-American Co. common sold up W 39, Other recent ienders were sirong, Bonds ulso were | up W recent wevels Haynes on Gus Directorate. | At the regular meeting of the bonrd of directors of the Georgetown (ins Light Co, yesterday, Murry V. Haynes, president of the Farmers & Mechanles' | Nationsl Bank, wes elected s director | 1 serve the unexpired erm of the lnte | Williwm B, Orme | MACHINE TOOLS MOVING. | wew your, Junuary 11 (. rake | ot machine wols have increased, espe- clally In the sutomoblle centers. From | present indications the sutumotive in Gustry will furnish w good part of the | et guarter machinery busiiess, Amer Am Tel & Tel(¥) Am Tobacco(8). Am TobaccoB(8) Am Type Fo(8). Am Type pf(7). AmWaWks(m1) Am Whise p£(7) Am Woolen. . Am Woolen pt.. AmZinc.... Am Zine pt. . Auaconda (3) ArmourDel pf(7, ArmourofllitA) Armour of1i1(B) Armour Ll pf(7) Arnold Con & Co Asso Dry Gizia) Asso DG 2d (7). Atchison (110).. Atchison pf (5). AtlCoust Li(110) AU Gult & W1, Atl Gulf&Wl pt. Atl Refining (4). AtlasPowder(4) Atlas Pow pt (6) Atias Tack. Austrian Cr 4 Auto Saies. Autostrap A (3). Baldwin L (7). Ballo &0 (6)... Balto & O pf (4) Bang & Ar (3%) Bang & Ar pi(7) Bk Comerce T118. Barnsdl A(bZ¥%) Bayuk 18t pfii). Beacon Oil. Beechnut (1 Belding Bros (2) Belgian Nat Rys Best & Co (3)..0 Bethichem Steel Beth SuU (7). Bon Ami Cl At4) Borden Milk (6). Botany C MillsA Brigss MIg Co.. Briush Empire. Briusn Emp 2d. Bkiyn-kdison (8 Bkiyn-Man (4).. Brownshoe(Zs) Bruuswick B (3) Brunswick Ter.. Bucyrus £ite. .. Bucyrus £ (cv). Burroughs Ad 14 Bush Term (82). Bush Ter de (7). Butte oper & Z. . Butte&super(2) Byer & Coueuene Calit Packg (4). Calif Petm (1 Catiahau Zinc Calumet & Ar(6; Calu & Heela (2) Can Lry (13% ). Can Pacific (10). Canelureshig6) Ceut Alloy (2).. Cero de Fascu(4) Certain-1eed (4) Chand-Cle Cuandler Y Chat-£h BK(16). Ches & OBIO(10) C& v Corpn (3). 1 & Aiton pf.. Cut Great West., Chi Gt West pf. . Chi Mil & BLP.. Chi MU&SLE pE. CM&sLPcln., C M&SLP pt ofs Chi & Nwn (4). Chidtock 18 (6). Ch 32.40) 000 Chile Co (2% ).s Christd B (1.20) . Chrysier Cor (3) Chrysler prA(8) City Stores (B). Cluett Keab (6). Cluett-Fea pr(7) Coca-Colw (6). 0+ Colling & AiK(4) Col Kuel & lron. Col Bou 2d pt (4) Col G & K1 (b) Col G&E pt AL6) Col Carbon (4) Com Cred (1), .. Com Cred pt 6% Com Cr pt I8 (2) Com Fow (2%). Holents(#) ndo Nust(2)., Congoleum-Nuir Cong Clgars (4). Con Cliain(l).. nwol Listribut wol Gum (6) ., ConmolUun pt(6) ConithCuba pt ¢ Connol Textile, . Cont liakk A (4) Cont Buking 8., Cont Jak pf (8). Cont Can (6) « Corn I'rod (13). Corn Prod pt (1) ba Cane Bu pt Cuban A B (1), Cuban Am pf(7) Cudahy 'k (4). Curtins Aero. ... Cushimani's(§4) Cuyamel Fruit., Davison Chem. , DeeresCo pfil). Del & Hud (8) .. Dol L& W (17). DG Wetpf., Detroit 0 (8) .. Lisvoe & I(2.40) Devoek it 1sL(7) Diwimd M Dome Mines (1), | can Machinist reports. Acceptance by e publie of the 1928 models has been the sign for speeding up production wnd pew equipment 1 iseded 0 Uils expans Bl PROgAD, Dul B8 & Atlan., Dut B 8 & AU pf, Tunidil it (4). D Vont (114% ) Du Funt deb (6), T NEW Open. 144% 1011“ b7 s on 12k 1ith 19% ' 129 b 7 tu wlz 1% High, Low. Close. 149 144% 140 101% 101% 102 112% 111% 112% 217% 212 217 11% 1% 11 4% 3 182 27 44 20% 88% 62% 56 39% am 110 110 175% 174 134 134 145 1444 104 104 674 664 114 113% 6% 6% 61% 32 Duquesne pf (7) Eastman (18)... Eaton Axle (2). Elsenlohr & Bro. Elsenlohr pf (7) Elec Auto L(6).. Electric Boat... Elec Powr & Lt. EP&LDf 40% (7) Elec P&Lt pf (7) lec Refrigeratn Elec Stor Bat(5) End-John (5)... Engineers Pub 8 Equit Bldg (7).. EquitableTr(12) Erle R R. . Erle 1st pf. Erle2d pf...... Erie Stm S (2%) ErfeStmS cfs 2% Eureka V (11). Fairbanks (3)... Fed Ligt(h1.40), Fed Min pf (7).. F1d Phoe Ins(5). Fifth Ave (64¢c). First NatS(1%). Fisk Rubber.... Fisk 1st pf (7).. Fleischmn(134) Foundation Co.. Fox Film A (4) Freeport (1%).. Gabriel Sn (3%) Gardner Motor. . Gen Am Tnk(4). Gen ATC pf (7). Low. 116% 164 26 pen. High. 116% 1647% Close. | 116% 164% % 26% Gen Asphalt.... B9% 131 Gen Bakg pf ( Gen Cable A(4) Gen Clgars (4). Gen Elec (15). .. Genllec sp(60c) Gen Gas ptf B(7) Gen Motors. ... Gen Mot pt (7). Gen Qutdr Ad(4) Gen utdr Ad(2) Gen Ry Sig (6).. Gen Retrac (3). Gillette Raz (5). Gimbel Bros. ... Gimbl Br pt Gludden Co. Gold Lust (3) Goodrich Ru (4) GoodrichRub rts soodrich pt (7). oodyear Tire. . Goodyr 1st pI(7) Gothm Hos 32%. Gothm new 323 . Gould Coupler A. Graham-Paige, .. Granby Con Min Grt North pf (5) GrtNor O (1%). Grt Wes S(2.80) Gt West S pf (7) Green Canan. ... Gulf Mo & Nor.. Gulf Sta 1st(7). Hackusk W(1%) Haunna 1t pt... HanovrNati130.12 Hrin B b1V %Stk Hersney Corp. .. Hershey pt..... Hershy pr pf(6) Hollunder & Son Homestake (17). Houstou Vil. ... Howe Sound (4) Hud Man (2%). Hudson Mot (5). Hupp Mot(1.40). Lilinois Cen (7). indian Kerg cus L PILT) ... angersoll Rd(15) Aniand St (2 inspiration 1ntervorokapir. lutcontl Kub(l). internat Agri. .. Lut Bus Ma (5).. int Cement (4 0t Com Eng ( int Comb pt (7). 2 111% b 119% pELEN 50 100k 106% 23% 234 Y 69l bYly 1295 1296 1296 Y%zl 20% 2L B B4 B4 iatn 3% 8% 108% 108% 108% 82 $2% iz 72z 146 az%h b3ty 11ym 1874 ook 105% 238% 100% 23% oy'n 108% 31 KEN 33 133 6% YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Open. High, NY C&StL(6)... 131 131% N Y CStL pt(6). 109% 109% NY & Lack (7).. 109% 109% NY N H & Hart, 60 NY NH&H pf(7) 114 NY Ont&W(1).. 30% NY Steam pt (6) 101 Niag Fpd (1%). 28% Nor&Wstn (*10) NorAm b10%stk North Am pf (3) NorAm Ed pf(7) North Pac (5).. Nor Pac cfs(5).. Opnhm Col (4).. Orpheum Cir (2) Otis Elevator (6 Otis Steel....... Otis St prior(7). Owens Bot (ct4) Pac Ol Stubs. .. Pac Tel & Tel (7) Packard Mot(3). Paige Motor..., Pan-Am Petrolm Pan-Am Pet (B). Pan-Am West B. Panhandle...... Parmt-Fam(J8). Park & Tilford. Park Utah (3uc) Pathe Exchange Puthe Ex A (4). Patino M (a2.19) Peerless Motor., . Penick & Ford. ., Penick&l pf(7). Penn Dix Cmt(2) Penn R R (3%). Peoples Gas (3). Pere Marq pt(5) Pere M prior (5) PhilaCos % pt(3) Phila& RC 1. Philip Morri, Phillips-Jon (4). Phillips Pet (3). Phoenix Hosiery Phoenix pt (7). Pierce-Arrow. .. Piercevil....... Pieree Petrolm. . Pilisbury (1.60). Pillsbry pri6y). Pitts Coal. . Pitts St pt (7). Porto Rico To B. POSUM (5) ... ru Pres Stl Car (n). Prod & Retiners. Froducers& R pt Propnylactic(15) Pub Serv NJ(2). Pub Serv pr(6). Pub S NJ pt (8). Pub SE&G pL(6) Pullma Corp(d). Punta Aleg Sug Pure Uil (135) Purity BakA(3). Purity Bak B (2) PurityBak pr(7) Radio Corp of A. Rand M (a3.04). Reading Ry (4). Real Silk Hos. .. Real Silk pt (7). Remingun-iand. item-Rd 1s1(7). Reo Motor (11). Rep Ir & Stl (4). Reynolds Spngs. Rey Tob B(16%) Richtield 011 (1). Rossia 1ns (6).. Royal Dad.13%. St Jos Lead (13) StL&San ¥ (18). Savage Arm: Schulte (3% Seabd Air Line. . Sears-R (n2%). Seneca Copper. . i Shattuck I G (2) A0t Harv (8). .. & inter Har pt (7). Iniatich pr(d.20) 1ot Mer Marine., int Mier awar pf. int Nickel (2)..4 1aU Paper(2.40) nL Paper pt (7). int Ry CA pt(6) inter Sult (6)... int Tel & Tel (6) intertypeiridy). Lsland Creek (4) Jewel Tea.. Joues Bros T Jones & Lau (7). Jordan Motor. .. Kan City South. Kan C S0 pf (4). aayserd (4). Kelly-Spring. heis-Hayes (2). Kennecott C(5). Kinuey pt (8)... Kratt Ch (11%) Kresge (1.20)... Kresge Dept 8., Lago Vil (T6e).. Lumbert Co (16) Lee Tire & Rub. LebighValidiy) Lehn & Fink(3). Life Sav (1.60). Lig&eMyrsi(£4). Lima Loco ($).. 6% | Lig Carb (3. (2] 2% B8 24% % Loew's Lne (13). Loulsiana V11 La OL pf (6%). . LoutsGasA(1.76) Louis & Nash(7) Lydium Steel(2) McAndrws(13%) McCrory (1.60). Mack Truck (6). Mackay pf(4).. Mad Bq Gr (1%) Magma Cop (3). Mallison & Co. .. Manati Bugar pg. Mandel (2%). .. Man £l Sup (6). Man Kl m & (46) Man Shirt (2) Maracaibo O1l Market Btreet Market St prior, | Market St pf. Murket St 24 p Mariand O1l... . Mar Rock (13% ) Martin-Pary (2) Mathieson (4).. Mathienon pf (1) May Dopt 8(4).. Maytug (13). MetroG pf(1.89) Mexican Beab. .. Mismi Cop (1).+ Mid-Continent. . d pr(tiz) Miller Rubber, .. Tox.. pree). 1nsourl Pacifio Missouri Pao pt. Montana Pow (6 MontgmryW(4) Moon Motor, ... Mnk(3%). Motor Whi (2)., Mullins Mfg. Mulline 18 pf( Munsingwr (3). Murray Corp. .. Nash Mot (164%) Nash & Chat (7) Nat Bollus k Nat Biscuit (6), Nut Biso pt (1), Nat Cush 1(A)S Nat) Dairy (4)., Nat Instillers, , . Nat Distillors pt Nat tnamel & H, Nat PwiLt (800 Nat Hadiato Naut Had pr( Nat Hy Mox % Nat Hurety (10) Nat Tea (4).,, Nevada Ci1%), Bldw N Y Alr Hr (4),, 1% 1w 7% NYCent (h) B0y 1184 59 6% 674 64 28% bl 87 124 0% 284 1484 29% 49 9% 164 122 116 w2 a4 200 b 184 260 26%m 49 108 b0y 1% 104 1204 20 Lt 104% AN 26 [ 194 A0 166 14z 4% i Sl e 4 44 FUTE U LU Shell Un (1.40). Shubert The (5) Simmons (2). Simms Pet Sinclair Oil. Skelly 01 (2)... Sloss-Shet (6).. Snider Packg Co Snider Pkg pt... So Por Ric S(12) South Calif Ed.. South Dairies A. South Dairies B, South Pac (6)... Southern Ry (8) South Ry pf (5). So Rwy M&O(4) Spaulding pf (7) Spicer Mfg. SWUG&E3%). StdG & E pf (4) Std Mull (5)..... Sud Miilg pf (6). StdoICal(12%). StdOILNI (1134) Std OINY (1.60). Std Plate Glass, Sterlg Prod(17). Stewart-War (6) Strom Car (2)... Studepaker (5). Studebak pf (7). Submarine Boat. Sun Ol (11)...s Sun Oil pt (6)... Superior Oil.... Sweets of Amer. Tenn Copper (1) Texas Corpn (3) Tex GulfSul (4) Tex & Pacific. .. Tex PC&O(60c) . Tex Land Trstn Thatcher Mf§g. . Thatchr pf(3.60) The Falr (2.40). ‘Third Avenue TidewaterAsOll. Tide W Oll pf(b) Timken (16).... Tobac Prod (m). Tobao Prod A (1 Tob Prod cfs(A) Transcont O Transue & W(1) Twin City R (4). Undrwd-Ell-Fshr Un Bag&Paper. . Uniton Carb (6). Un Ol of Cal( Union Pao (10). Un Pacifio pf(4) Utd Biscub . UtdCgrSt(C80c) Utd Cir St pf(6) United Drug (9) Utd Frult(tit) UBCIP&F(10) U 8 Distributing U 8 Distri pf(?). U S Hoftman (4) U 8 Alcohol (6). U S Leather w i, U S Loather A.. US Leat pr £(7), U 8 Realty (4).. U S Rubber, ..., U S Rub 1st (8), U §'8Smelt (3%). U S Smpt (34). U 8 Steel (7).... U 8 Steal pf (7). U 8 Tobacco(d). Uni Leaf Tob(3) Uni Plo 18t pf(8) Univ Plpe(t24) Utah Coper (6)., Utl P&LE Aced), Vanadium (14), Van Raalte pt Vick Chem (4),, Viator 0 pf (8).. v 1 Va lron Coal & Vivadou (b10). Vuloan Detin, Wabash . .ovue Haking B, w Went I P'o (8) Went I Po pfi1) West DalryA(4) orn Dalry B Mary land " Pacifio pt West Unlon (), Weoathae A B(¥), 81 8ln Low. Close. 130 109% 1004 3w 144 104 504 66% 46 1397 a4 1884 Bow a9 laz\ 08 194 » 1388 7 130 109% 109% RECOVERY STAGED IN'STOCK MARKET Trade Volume Small—Mining Shares Strong—Some . Oils Are Lower. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 17.—The stock market recovered today a good share of the decline of yesterday. The volume of trading was small and not much in- terest was shown in the proceedings, but the attempt to bring about whole- sale liquidation which was the feature of the previous session was abandoned, for the time being at least. The rebound in prices could be ascribed in large measure to®re-pur- chases by bear operators. There may have been some new buying but it could hardly have been extensive. The trading was too desultory for that. There was no change in credit condi- tions. Money renewed at 4! per cent, which was the charge far new loans yesterday. The explanation of = the weakness on the day before, that higher money was feared, does not hold in view of the fact that the market came back today with money in exactly the same position it was when stocks were go- ing down. Individual Issues Move. Outside of the recognized leadgrs, | General Motors, Steel and General | Electric, the market did not move by groups. Instead individaul issues were | singled out for attention in the rail- road list. It was New York Central and New Haven which were in the great- | est demand. In the motors, Hudson was the leader of the Independents. The to- | baccos and*sugars each had one repre- sentative among the day's, advance. American Sumatra tobacco Was unusu- ally active and higher and Manati Sugar preferred made a new peak on | the present recovery when it sold at 88, forcasting the resumption of divi- dend payments. . Mining stocks were mostly strong. | Greene Cananea ran up 3 points in its | now familiar fashion, taking with it | but more sedately Calumet and Arizona, | Anaconda, Cerro de Pasco and Kenne- | FINANCIAL. SURVEY OYSTER BEDS. 500,000 Seed and Shell Stock to Be Planted by Maryland. Special Dispatch to The Star. BALTIMORE, January 17.—A survey to determine where the State will plant 500,000 bushels of seed oysters and oyster shell this year was started yes- terday by members of the seafood ad- visory committee, it was announced by Swepson Earle, State conservation com- missioner. The amount of shell and oyster seed to be planted this year is the greatest in the history of the conservation de- partment, Mr. Earle added. Of the amount sowed on barren beds of the Chesapeake, between 50,000 and 100,000 bushels will be incubator oysters, the commissioner sald. The remainder will be shells on which oyster spat may attach itself. Planting is expected to begin in April. EMPLOYMENT HAS DROP AS WAGES TOTAL GAINS A decrease of nine-tenths of 1 per cent in employment In manufagturing ¢ industries throughout the in® December as compared with November, while pay roll totals increased 1.7 per cent, was reported today by the Labor Department. The employment level in December, 1927, was 6.4 per cent be- low the level for December, 1926, and pay roll totals were 6.6 per cent lower than in the preceding December. At the same time the department found practically no change in the general level of wholesale prices 23 be- tween the two months. The weighted index number of the Bureau of Labor statistics, computed on in the year 1926 as a base and including 550 commodities, stands at 96.8 for - 4 ber, as compared with 96.7 for Novem- « ber,tnn increase of one-tenth of 1 per / cent. 2 The B;n]: o; Personal Service Facilities to Meet Every Banking Need Well-rounded service is at the disposal of all “Com- mercial National” customers. Our facilities provide for every possible banking need. 1 You'll profit by availing yourself ' of “Commercial” equipment. Conferences with our officers invited. We PAY MORE INTEREST on Savings Accounts than any other National Bank in Washington Tue Commercia. Nationar Bank “apital & Surplus, $1,400,000.00—Resources, Over $18,000,000.00 Corner Fourteenth and G Sts. - BORROW cott. Oils stocks did not follow through | |/ hour of trading Monday. ‘Houston Oil had a sinking spell early in the day, dropping 4 points and then regaining most of the loss. The stand- ard issues like Marland and Phillips were fractionally lower. Pan-American | Petroleum “B” sold off. The weekly | report on domestic production of crude showed an increase of 7.244 barrel daily over the preceding week. Reversal of Trend. This is a reversal of the trend re- vealed in the previous week. As a/ matter of fact there is nothing in the | trade situation to justify optimism | about the immediate future of the oils. | ‘Two specialties conspicuous for their strength were Cluett Peabody and In ternational Mercantile Marine preferred. With regard to Cluett Peabody it was| reported that retirement of the pre-| ferred stock was being considered. To- | day’s price of 87 was not only the best | this month, but higher than any| recorded in 1927. Buying of Marine the rise initiated in the closing xuu” preferred was persistent ahd seemed 1o | be founded on some expected special development. Trading dragged along in the after- aeoon at the slowest pace since Novem- | T. standstill. Sales up to 1 o'clock were | only 944.200 shares, or at the rate of || only a little more than 1,500,000 shares | for a full day. Prices held firm, although | FROM US If you are building or buying a home and need to be financed— Inquire of us Our terms and rates will be to your benefit . | 809 15th St. N.W. EAVER BRO REALTORS Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company BIRS'T At times the ticker came to a!|| the standard stocks did not gain much. | | A few pool managers cautiously bid up their respective favorites, but failed to | attract much of a following. Among| the incidents was the buying of Man. hattan Shirt, Interboro Rapid Transi and Hupp Motor. BUILDING ACTIVITY. NEW YORK, January 17 (P.— Building and engineering contracts awarded in the week ended January 12 | Dodg: amounted to $105,227,000, F. W. e Corporation reports. The records cover 1 the 37 States east of the Rocky Moun- tains, about 91 per cent of the country’s total construction. Contracts have av- || eraged $15.032,900 each business day | thus far this month compared with | daily averages of $15.378,200 in Janu- | ary last year and $18,286,300 in Jany- ary, 1926. — SHORT-TERM SECURTTIES. (Beportau by J. & W. Selizman & Allis Chalmers 5 1 Al L Amer 3 i Anaconda Chpper Gs 14 Ansociatad Of s 19, o Goodye. E Humbd Mass T w R O Biye as Co Bige 1 New York Tel 1108 fosa | heoling Steel Co 3 TREASURY CERTIFICATES. (Reported by J. & W Seligman & I':\»‘ Rate— Maturity Mar., 13 1 13 mfixon EXCHANGE. (Quotations furaighad by W. B _Hibbs & Co ) minal cold Selling checks value (or pars London, pound i roal dollar wa. achilliog Fudaveat ponsn e rowi AW aloty nhagen crow i Qul et Spekhatn, cwwn Wentinghae (4 Wenthue 1nt (4) White Bakle (2) White Mot (2).. White Sow Much Willys-Ovarland Willys-0a pf (1) Wilson & Co w 01y Wrikht Aeroil), Wrikley (184). YaleSTown(1d). ? Yollow Truok. .. RN Youugstn Shis) VN BEN HMourly Sales on N. V. Market. Tham. . 408600 12w . e L sl A he Voarly devlaationn aNEEA OF sesial v a ¥ T o AR 100 sharvs Nty Lty s o Plua vue b s 3 1 arelucred stood ‘B Pius 3 1 ool b wwimvn sioy MORTGAGES INVESTORS OF LONG EXPERIENCE will have nothing to do with investment opportunities that hold out the promise of satis- factory returns without at the same Over @ Third of a 69 1 Century s are Without a " ya Loss 2 as is also the a safety. time giving proof of To such investors, our FIRST MORTGAGES repeatedly and continuous- ttractive. The security that ures safety of the principal urance of interest payments when due. B. F. SAUL CO. Main 2100 IS SUB 925 15th St. NW. i THERE Exceptions Noted STITUTE FOR SAFETY | NE of the hardest les- sons of life—a lesson, by the vay, that wny never learn—is that what is proverbial is not, of necessity, true. A good hunter may prefer two birds in the bush, and a conclave of expert chefs is likely to produce an excellent broth, Or, again, take the old saw about doing it yourself to be sure it's well done. It does not invariably work out that way. Does a man cutting his own hair ever make a better job of it than a barber? Is aman who pleads his own case in court likely to win, So with investmens. Is the manwho spends his spare time struggling with graphs, crop reports, market statistics and averages likely to invest to better purpose than the man who listens carefully to the advice of his iavestment banker? We doudt it, Weite to us—or come o 300 us—for informatian Adout aur apeviatined service i dands andy J- AW Iglehart & Ca. Investment Bankers 719 FIFTEENTH ST,, WASHIN BALTINIORE. MDY WILAUNGTON DEL, WILKES BARRE PA TON, DL & CLARKSBURG, W, VAL RICHARND, VA,