Evening Star Newspaper, January 22, 1928, Page 79

‘ Jreneis saies of 2620 TINANCIATLS HAM RE-ELECTED W.R &E.C0. HEAD for Year $1,573,064.70. Passenger Traffic Drops. | I Charles F. Ham was re-elected presi ! dent of the Washington Railway & 105 102% Flectric Co. at the organization meet- | 192 11007 1070 ing held by the directors yesterday. Fresident Charles J. Bell, president of ihe American Security & Trust ¥as again made chairman of the board. Th> other officers re-elected were Co. | 10 ael troller; H. M. Keyser, secretary; A. M. Fisher, treasurer; William Clarke, | 10 Assistant secretary-treasurer; H. W.!10 Keily, assistant secretary. and V. D.|! Brooke. assistant treasurer. Earlier in the day | elected Jas Charles J. Bell F¥dwin C. Brandenburg, Daniel J. Cal- Ishan. F. W. Doolittle. Robert V. Flem- llam T. Galliher, Julius Ga i Edwin Gruhl. Willilam F. Ham. Robert N. Harper. Leonard H. Mitchell. Clarence F. Norment. Eugene ‘Thompson and Harley P. Wilson. President Ham Makes Report. At the annual meeting of the stock- hoiders President Ham reported gross income for the year from operations and dividends from the Potomac Elec- tric Power; Co. to have totaled $7.166.112.61. | Operating expenses. taxes and mis 10 unded debt. dividend payments on_pre- | common stock. $815.000. 1y e of income for the year/u lo profit and loss ‘was o I vt net income for the|g; d amounted to the sum eredited 758,064 70 ced that were carried on the g the vear. A de- figures of 1.047.- He said that g, in the falling ating companies | 10 @ reported A decrease ravenue ApAnY in 46 States ha of 142 per ¢ Bus Revenues Grow Rapidly. i Bus traffic revealed a different story. | yo. Due to a great case in chartered 1o bus servics and relatively more passen- i gers paying their fares in cash than 1 ormerly. the in stroet car revenues | gy was wholly ome and & gain made | a; in total operating revenues of $18.000 Mr. Ham called attention to liberal expenditures each year for | the past eight years in tracks and equip- | ment. Twelve more one-man cars were | i ordered in 1027. Twenty new busses were also purchased. These cars are | 10 000 and delivery be made 11 10 to cost $1 ident touched T when he said ter Bad been referred to | the Public Utilities Commission with the request that it be given carcful consideration. He ex- prossed the hope that some pian fair to the public a n securities holders ©f the companies involved might be rd oyt Also Reperts for Power Company. The Potomac Electric Power Co. sold m-re péwer than during 2 the vear 84.723505 wak plant and equipment, the P2raest o in anv on~ vear since the fcrmation of the company. Expendi- tures in excess of $3.250.000 are aiso eonsidored necessary i 1928, Mr. Ham announced &4 The suceoss of the stock iszue put out | Moy among custorfers and em- rs was reviewsd. The oulsianding bonded debt of the Weshincion Rallway & Electric Co.and | 10 subsidiary _companice. Inciuding the o Potomec” Electric Power Co.. is now $24.120.700. Adding this to the $15.-| 000,000 capital stock of the parent com- pany and $7.002,850 outstanding capita! | siock of subsidlary companies, makes the total outstanding capitalization as 10 i i 10 ©f Decembeor 31, 1927, $46.123550. This | 99% ¢ exclides bonds purchased for the sink- | 9 ing fund and for temporary investment. | How Securities Are Held. 110 The of stockholders of the | ¥ ngion Rallway & Electric Co. at | 7 cloie of 1927 was 2021, of whom | 1.159 were women, trustees. charitable, | beneicia gious and ,other similar | organizatio Of the iotal number of s stockholders 1,220, or 63 per cent, are | s of the Districi of Columbla | red stockholders of the | tomac Electric Power Co. now num. ber 5707 Of these 3197 are women trustees. charitable. beneficial or relj- ur orpanizations. and 99 per cent of total are residents of the District of Columbie RAW SUGAR EASIER. | res Open Steady, hut Weaken | in Sympathy Vli}h Spot, KEW YORK. January 21 (@) rav suger reet was ea Prices declined 1-32 of a cent beris of 442 under continued ofterings snd Lmited demand. The oniy sale reporicd was 7,000 bags of Ports Rican for prompt shipment, at | the quoted Paw sugsr futures ope ances of 1 v 2 poin end a inte trade wrukened under increased liquidation ene sMling by housss with Cuban co fections, promoted by the easier spot riarret Final prices were 1 January and | # 1 I 10 10 Fut The oday W tae itberal d ned steady at on covering buying. but aoon and operation u week end even; vere 6850 tons 62 March. 266 Beptember 289, De- 3 Lo OPTIMISTIC ON FRANCE REW YORK Junuery 21 A Rothenbrerger of the fim of Bullivan & Co has gone abrosd v fer with French industrial ana batin sowed Anencing 1or French rican market Per- obtained from the The poseibility that Pionce will receive the lon's share in | the first Germesn repsrstons payment | #04 L French government s ing the | the e2port of capital nave pro- iy, fevorabie W the of Prench industries 1 e Wil 8iso nd ) promots sn securitier betwees United tutes whs Y Flate Deparimen® ban o een o Ly wrrher Yruooe w8 CHAIN STORES DO WELL NEW YORK. Janusry 21 #i - Four the so-cuied h-and-10-cent chuin Companies G & Denner vesr in ¥ W Woolworth & 8 Kresge Kress wnd McCrory Suores their aing 4505910 T30, eguinst 447 Fach company e Ieren solen wnd 2., pansion of Cha pushed vig- | g orously A compiiation ehows that in 35 yeRrs Vese lour Comp had g the i o i wore 1927 B H o 8408 4 whoven + I 7T a0 COTTON CLOTH STEADY b NEW PRV ™o Clolh e ks quiet with price. elewdy or Interest was shown b finwshed oot | 1o ®OAs Lor womer s vesr Buriap m,vnl Were fimer in quiet Geslings Ko aii | e Whs uncoenged. 1 b whe Ui y mall saler BMore | o YORKE. Jenioary —1 WG e | P27 101 {1e32 {10117 100 2 10318 101 20 100 {Bell Again Chairman—Net '™ ** i 111% 105 ] 10R% 105% ay o 105% uy (1048 102 S.R. Bowen. vice president and coun- | 108's 102 A. G. Neal. vice president and con- | 106% 10 these directors had been re. | 194 Woodbury _ Blair, | 116 100% as 106 =6 compared with 1926. | 100 106 104 10w 10 100 100 951y 10%% 105 108 105t - way 95 [78e 3l K94y 102% 98 99% 924 118% 1167 5 62 1iwa uhe Pren e # win ®1% wi ein THE SUNDAY D STAR. WASHINGTON, 99 D. C. JANUARY BOND SUMMARY FOR THE WEEK | High Low 99 19 101 Hieh Low. Yiew | 102 14 100 103 30 102 101 21 100 19 104 12 103 1010 106 9 16 110 1926 mam e 1 927 e ieh. Low High 98 1004 9T 1011y 873 ARy 07 106 101% 100 92w 4% 111 110% 1074 1008 9% 9% K 10815 104 96T 05 8Ty 10914 104 102y 101% 110 1084 110 1061 30m 24 101t 1 105 U. 8. BONDS Liberty $14s 1933-47..... Liberty 1at 4348 1932.47. . Liberty 3d ¢l s 1928 Liberty 4th 44 s 1933 Treasury 414 s 1947-52, FOREIGN Hign Low 101 20 101 12 108 11 108 4 21100 18 103 25 Las 1011 o4 100 18 2% Low Last, 90% 100 1007 a% 104 100 s 1000 Argentina 6s A-1957. Australla 581955, Austria I 1943 Beigium 88 1956 Belgium 148 1946 Belgium 881941 Bordeaux #2 193 Brazil 6148 1957 Brazil 851941 Ruenos Aires Province 3 Buenos Atres Province is 19 9 4 98 | Canada bs 1952, Canada 5= 1929, Chile 8a 194 Chile 88 1948.. Chinese Govt Ry 5s 1951, 6 26 Copenhazen iz 1044, 100% Crechosiovakia ¥s 1951 1000 T | Denmark 88 1942 100 Sty £l 101% N9te 107 18 001, 9 IS . 1054 108% N 1024 W 102% Dutch Kast Indies French Governme! French Govt 1 French Govt 8s 1945, German 7s 1949 [N I3 00 054 OR% 1164 103 1120 1084 1001y 105 04 91 00% 10 vty 11 101y 1087s 103 Jupanese K148 1554, Jergens Utd Mararine &s 1947, therlands 6s 1972 Norway 5l s Paris-Lyon M Peruis. .. Poland ¥s 18 h Queensiand 7s 1941.. Rhineibe 78... 2 1110 de Janeiro 8s 1946, , x| Rome 6l¢s i 9 Sao Paulo Sta ol Seine Dept of 18 : V| ths Croats. Slovenes 8s 1962.., 9 f i eden §s 193y \ | Wiss3lp8 1946 .. 105 | Toho Kiec Pwr 78 19, e 17 | 106 | INDUSTRIAL AND NISC i Amer Azri Chemica! 71y 1050, Amer Smelt & Itel 18t 58 1947, 102 Amer Smelt 1st 68 1937, LOB Amer Sugar Retining #s 10t Amer Tel & Tel ¢! tr 48 1¥2y. b American ‘el & Tels (58 106 Anaconda Conper 6s 1953 [ Anaconda Copper cv de i Armour & Co 4148 1939 w2y » Armour of Del atas 4 w Atlantic RRefin'ni deb s 1937 Rarnsdall Corporstion &8 1310 Bell Tel (Pa)ref 58 1948 ... Bethienem Steel n m ds 1946 . | Hethienem Stwel « t #s 1948, . o Cons Coal « Md) 1at rel 58 1950 Cuha Cane Sug cv deb ¥s 1330 Detroit Kdison ref Dodze 63 1940 Kastern Cuban Sug 14s 1937 Goodrich (B F) §4s 1947 ., Humbie O] & Ret 5ls (932, Indiuna Steel 58 1452 rine 65 1941 Inter Paper 58 A 1947 - International Tel and Tel 4}4s.. Keily-Springheld ¥s 1931, Lackawanna Steel s 1950 Lacle . 100 1061 JUTEN 16 111 064 10 15 o 9 107 3ie 102 8oy 2% g 1070 1044 100 ELAY Wi 101 1057 10 11575 108 4 4 1085 101w . 103 100N . | 5 ! x N Manati Su Midvale Steei 58 1938 . New Enzland Tel 3s 1952 . N Y Edison 1si6ge 1941 <ELH&P58s 1948, 33 100° 5 1144 102 1075 103 1Ty 114 10 106 oy Ho o 107 08 100 3 [T 2 065 101 1065 102 104 103 10T 103 10 Y Tel s iy orthern States Power i Pactfic Gas & Elec os 1942 Pacific Tel & Tel 5= 1952, Pan-American 6s 24 v Philadeiphis Go cel 83 1944 Public Service 65 1944 .., netair OV s 1937, Sineiair Crude O1l Southern Bell Telephone 5. . ard 01 N J 5 United Drug 6s 1949, U S 1tubler 18t & ref 5s 1947, U S ttubier 1ws 1930, USSteel s (58 1988....... Ltah Power & Light 6 1944 Warner Sugar 15 1939 Western Union el % s 19, W ilson & Co int 6m 1841 ALK Atchison '@ S Ko con 4a 1995, tie Coas” 1.ne I8l 48 1952 Hailu & O i1 €01 48 19 Ballo & ORI av 4 e 1943 Bally & ONIo cot hs 1998 a1 100 ] 99° | 1048, | 1038, | w2 10} 01 bl 10sh 16| 121 107% 101% 101% 954 1225 1Tn 2 3 ¢64% 91 1005 95 100% 99 10355 97w 65 604 103 1o 94 T 1025 9 Wit 14 Brookiyn Manhat s £ 68 A 196 Canadian Northern 6\ s 1948 Canadian Pacific deb ¢ Central Pacific 48 1949, Chesapeake Corpn Ss w i. . Chesapenke & Oh10 cv ¢ 8 1930 Chesaneake & Uhio gen 4 pe 1992, Chicako & AIton 348 1950, Chicago Bur & Quincy 444877 B Chi i & Quincy Iat rel os 1971 Chi % Kaxtern |1l zen 58 1951 Chitirens Wasiern os 1953 Shi M & SUPCv 4l 1932 MO St Paul can 4l I9K9 1M % ST Al et 4l s 2018, M A& St Iaul oy 5r 2014 hi & Northwestern % s 193 picago Hallways 5w I1¥20. .. & Pacinic rel 4x 1934, Chicazo Rock Island ¢ s w.i, Chi Cnion 3tation 4 ne 963, 9% 115 Chi Union Station 6 e 1ves. % 81 R 65 Chi & \Wextern Lnd gon 48 1952 T ) Clev Cin Chi & St Louis 55 D. 55 10 CCCES Lret 6aA 192y, Cleveland Terminal blan. ... 0lorado & Southern ¢ e 1935 Cubs R R 68 1962, 00rnrennnans Delaware & Hudson biws 1937 Den & 110 Gra Den & 1L G Weat Detroit United ¢ rie Lat con 41998, Lirie gen lien 48 1938 Kriecy 4s A 1953 Fia ECo818....0 Grana Trunk « f deb 68 1936 Grand Trunk 18 1940 . Great Northern 4 e 1916 . Great Northern gen o pa 1922, Great Northern ken /s 1968 ... Hudson & Manhatuan cel os 1961, Hudson & Manhaitan ad) ss 1967, Hlinois Central 4% 8 later Jtapid Cransit os 19 Inter Kapid Traosit av is 1932 ter & Great Nor ad) 68 1962, anC K Scolt & M Ransan City Bouthern ¥ o Kansans City Bouthern b 1960, . liske Shore 48 1928 Luake Snore 4u 1981 . Louix & Nash unified 4 Louin & N She Mil kil 1ty & Lt Lugcef ba 61, N R T Mo tian & Lex 1nt a 1990, Mo ban s Fan ad)on 181 ... b0 Kan & Tex prin ba A 1962, Mimsoirt | Mix [ New vurk U New York caf 1np e 2018, ., few York Central deb 68 1936, cw Haven deb ¢s 1987 Y& 1 o deb 6 NY Ity 6n 1986, NY W NOrtern Facine ds 2047 ., Northern Pagifi 48 1997, Notinern o cal Lnp 88 2047, 6 100 1004 | 103 ult 101 1084 924 T 92 51% Tte 102 % 13% 0 10 *0 HZin g L 96 6% 102 TEN 92 10178 0 | JUITN | UK’y Ko 110w i03 1000 96 1i6h 114 10ln 9 114 108 1i5% 113 Wza 9% 93l Ed Wi 965 794 76 wou woh Yk B Yo 92 o T84 PO 109 98 99 w9 110 FUTRT 108 87 v M 109 6 i 101 » 74 i w7 wha o 11 10 0w 10 rlG 6 1100 105 a0 11 win IR bh 9l 16 111 JUTRE TN 4% B o e 10 1ian bl 1050 14 B4ty 10 [T oo P e Y2n "4y JUTEa J0sm W0l 102 9 b Y2 e 78 w4 100y 1 15w e . e i b [N Wiy [ L 102 uw'e 19 VR 10, % 102 e Wity 1us'a 1od'y Bl 10is 401y LRI Lty 100 100 10Ny B 1A " 1 ol thia i Wirda W e | 1124 i 11 1040 i 1082, e 101% Jubin . 7% " 64 Prerm Maraueiie ial be 1968 CUILY L& 1 e 1947 Hewding 8o 1990 .., . 1o Grande western alt LA & L 4Ruivas BUL I M&S & antyds BUL & Ban Fran or in 48 A 1660, SUL & Sun Kran pr i be 1960, , KL & Ban Kranbis b 1Ved BOL & Bun Wran ad) 6s 19b e 8% 5 Beaboara A i Houthern Vagifio oy 4 14¥. ., 000 Bouthern 1'asihe eo) 4 Southern ecie ref 4 Southern Hy e da 1968 ., Suuth iy 180 be 1994 . Southern iy dey 648 1968, ,, INA Avead) se tunu Union agine 1et 4u 1941 Virwinian My fat b 1982 Wabash Iut Gu 194y . Wabash biie 1976 " Westarn Maryland by Bl R Wasiern Pacifio be |94 [ Win 86 VesLBhore latda e i 4" 4h% o " [ " w104 v 112 4 14 izn € 1on i 106 o s U 1050 106 " 1 Vi JHiy T 1Ay 16 e 100 9 T POy i PTn 1004 (7] YR ok s . INEW INVESTMENT | the management type. to be known as | lall of which has been obtained. ! John F. Dryden, capitalist, president | secretar | have been ope 00UV 15 th> correct es.imace 01 | under the | nto_ brokers’ loans | chine, | president | section war, | around | Commercial TRUST IS FORMED Investors of Washington, Inc.. of Management Type. Delano Chairman. BY EDWARD STON! Formation of an investment trust of the Investors of Washington. Inc., vas | announced late yesterday. ‘The organ- izers are well known Washington, New York and Boston financial and business men. with Frederic A. Delano chairman | of the board. The trust, process of months, ha which has been in the | organization for several a_total authorized capital- ization of $3,000,000, made up of bonds. preferred and _common stocks. — The officers expect. that operations will start with a fund of approximately $800.000. | The oficers and_directors include Frederic A. Delano, former vice gov- | ernor Federal Reserve Board. chairman: | nd director; Charles Carroll Morgan, | bond department. G. M. P. Murphy & Co.. vice president, treasurer and director: Winslow B. Van Devanter, manager of the Washington office of the Guaranty Co. vice president and | director; Newcombe Baker. secretary, | Investors Equity Corporation, New York, | director: J. 8. Flannery of McKenney | & Flannery. counsel; Edward P. Her- | man of Childs, Jeffry & Co., Boston. and Coieman Jennings. | director, It is stated that the officers and directors are serving without salary and that there is no bonus stock. They call attention to the investment trusts which ted successfully in Eng- land and Scotland for half a century and believe that there is large field for operations here. In adopting ths management type” of trust the new concern has taken the one most like the British trusts. In connection “with the new com- pany, the organirers quote at length from a recent study of investment trusts made by the attorney general | of New York State in which he goes | into the general purpose of these trusts and the meihods of operatlon. In his ' report he states that favorable averaze | interest and dividend vields come through the careful selsction of securi- ties and the proper diversification. Investors In Washington. Inc. has {taken an office in the People’s Life | Building at Fourtcenth and H streets northwest Washington Stocks Strong. Washington stocks were strong in the closing session of the week, the lead being taken by Washington Railway and Electric common, 60 shares chang- ing hands at 450 Twelve shares of Merchants’ Bank & Trust Co stock sold at 151, 50 shares of Federal-American Co. com- mon et 32, and 185 shares of Nationa! Mortgage & Investment preferred at Afier call Potomac Electric Power 51, per cent preferred sold at 108°%.| Mergenthaler Linotype came out at 109, while 25 shares of Lanston Monotype moved at 108 In the bond division Potomac Electric consolidated 5s ap- neared on the board at 1031, and Washington Gas 6s. serics B. at 108 2nd 107%,. A $300 transfer in Capital Traction 55 brought 1041, In the unlisted department an asked vrice of 3 was placed on Miller Train Control. The hid on Chapin Sacks 8 per cent preferred was 102 to 103 and the asked price moved up to 105 The bid on District Titie Insurance Co was raised (0 43 And an asked nrice of 0 put en the bodrd for Washingion | mostl. | bas= bl stock Huge Local Industrial Output. A total production of well over 8100, e inauswrial ouiput o1 Lha. area Wil which the Di.rict of Columbia for.s ' an economic unit, M. A. Leese, former | president ot tne Washingwon Chamoer | vt Commerce and gencrai chairman of | exposition commitiees, declared in a ! slatement isrued yesterday in wnich he | dealt with the business phases of the | cnamber's movement 1o upbuild the in- austrial life of the Natlonal Caplial. AL 18 not siaung the whole case for Industrial Wazhinkwn (o esidmate its proauctive enaeavos soleiy on tne basis ol v hae 18 wrnea out widhin the pore ders or the Disuici,” saia Mr. Locie Ihere are four conuguous counties of MiY.ANG KDY ViRui. WICH RIC aflu N0UIG DY LAKCD 1.0 ConsieiRlion. i AQTYWId MONUIOICEY Whd e weoiges Countles, and in Virginia Ar- | lingwn and Fairiax Counties, | ACLOraINg W Lae -nose acourale fig- avalaole, tne oupul of plans in e Distiiel proper during 192 pounted to $94.000.000. With tie ad- | aition ©f the vae of the producis of the contiguous area, the Lowl estimate | then mounis o weil over $100.000,000 worth of goods made in the Greater | Washinglon territory during 1927, ac- cording to the chambers statement According to figures for 1925, the latest omcial estumates avallable, the whole Greater Washington area’ was credited with having 107 plants em- ploying 2472 wage earners. There ! in Wages in this nearby area, 52,110,952, while the lotal value of the | products was $10.740.430. Statlstes cieea by Mr Leese have been gathered™In a study of Washing. ton’s industrial situation which 18 be- ing carrled on in connection with plans for exhibiting 1ts resources in the fourth annuat industrial expositian to be held March 12 10 15 aL the Wash- | ington Audiotrium. Southern Stock 1 ‘The Supreme Virginia has handed down a decison upholding Judge Crump's findings that | preferred atock of the Southern Rall- | way is not entitied to any excess earn- | ings above the 5 per cent prescribed harter Arihur Lyman and other preferred stockholders wpplied for an injunetion | restreining the company from paying more than 5 por cent dividend on com- mon stock until clalms of the preferred H1OCK OF MDY €xCens eATnings Above that amount have been discharged The Bupreme Court decision settles | the case, a8 no further appeal I8 pos- sible., ision Upheld. Other Financial Notes. Ray A Voung, governor of the Ped- | eral fteserve Bourd. apparently aces no | need of Any congressional investigation | He says thal bro- | kers” loans, whether they advanee or de- Are glven constant attention by the board The West Woodridge Theater € poration, of which John W Oehmann iy | 15 considering development of 1ts properties at Rhode Istand ave- nue and Sixteenth street northeast I heing the Intention Lo erect w large | motion picture wnd vaudeville theater. | The new bullding would have & seat- g capaeity of 1600 The directorn are Lo act on the proposition soon | and consider that the growth of (hat | nta such an outlay | ‘Total resources of Viiginia banks on | December 31 were estimated (o be | $700,000.000 by M K Rristow, chief bank examiner in Virginia. Of this, $2065.000.000 representa Nmn' banks and $415.000,000 nationnt banks | Bankers Enjoy Roclal Eventt | ‘Che officers and employes of the | Rank. with their guests, nimbering ahout 200 held their annusl party lust night &t the Mayflower totel Tulian garden The dnncing wan Interspersnd with entertalnment and & buffet supper wan | served MibA Mariha B Oocks waa | chaliman of the committes on ar rAngements | . has & campaign o stop Beotland student | No. 2, Rigas National Bank, director. | 4 | 38, but old toms ave d | satd covered 13 months ended December 31 Banker Promoted | to 15 points. # CLAUDE H. WOODWARD, i Newly elected president of the Mount Vernon Savings Bank. He was advanced | from the executive vice presidency to | fill the vacancy caused by the resigna- tion of William Muehleisen. e e, Baltimore Markets | i I PG BALTIMORE, January 21 (Special. | Closing grain quotations—Wheat. No. | 2. red Winter export, 1.43%4: No. 2. red Winter. gariicky, domostic, 1.4474: corn, llow, domestic. 1.02: No. 2, con- | spat, 88 cob corn. barrel, 4.10a | No. 2. white domestic. 647.a 5 white domstic, 63':a64; rve. | nearby, 1.00a1.10. With the exception of old hens. which are in liberal recelpt and light demand. the general live poultry market holds steady un@er generally moderate re- ceipts and a fairly good demand being centered on large fat fowl While tur- kevs continue in fairly good demand. only moderate shipments are advisable and principally of young hens and gob- blers as old toms and heavy gobblers are not desirable at this time of the vear. Young hen turkeys, 8 pounds and over will bring 40 to 42 cenis a pound and gobblers 10 pounds and over. 36 to gy at 30 to 32 While it is more a ouestion of buyers than price with poor and crooked breasts at 25, Large fat Spring chickens in good demand at 30, but Leghorns Wil not bring ofer 25 and 26. while poor and thin fowls are slow sale At 20 to 22, Large fat old hens 4'. pounds and over bring 24 and 25. but medium fowl, 3'. pounds to 4'. pounds sell 21 to 24. v\lulg lighter xx-lc::. well as Leghorns are dragay at 20. Ca- pons continue in good demand "mdl;i Hight recelpts at 32 to 37. but old| roosters are pientiful at 14 to 16. Mar- YAt for ducks and geese holds generally | steady at 26 to 28 for the former and 23 t0 26 for the latter. but stq kmweg\:; or 4 pounds will n g ,r':\lv-‘:uzdz Guimen o] a4 PIEIONS Also ateady At 40 to 85 cach for the former and 30 to 35 a pair for the latter. Dressed Poultry Dull. With the warm weather which has pn‘uul.«d up to today the dressd poul- try market has been very duil. the trade *forring live stock. and with the ex- ception of capons. which bring as high as 40 conts A pound, dressd will not brine any more than live. Should the weather continue coid. however. an improvement is looked for next week and the best poultry davs are Wednes- Thursda and Friday Markst and nearby cges has held week and while receipts d fair they have not been excessive, the demand boing - good canscially for the best grades of fresh inid stock. Prompt shipments are nt‘ visable, quality oeing everything \.AllA\ the trade at this scasmn of the year. and held stock will not bring top quo- {ations. The market closed today 44 cents a dozen for firsts in free ca and 39 to 42 cents a doz>n for current celpts in free cases. "rfl‘;«u’:: of white potatoes have been libaral the past week and with de- mand easily satisfied. the market rules easy with prices mostly in buyers favor At 1.50a2.00 per 100-pounds and 2.75a | 225 per barrel Sold at Discount. | McCormizks and teds, however, have | be sold at a discount, whila No. 2 mostly half price n»r;..mn b atces and yams continues nd the L nalds stoady desphe fairly hiberal ts but gaors half the wock arriving from Easiern Shoy, Va is frosted and will not brine o er 1908 160 & barrel: No. 1 sw s sell mosuly | 150300 & barrel and yams ©udn2is but No. 2 stock and culls are not wanted at any price. Demand for native and | nearby garden truck continues poce but it takes first quality stock to bring Jutside prices at the following quotations Carrots. 3008500 per 100 horse radish 3500400 A bushel. kale. 30830 & bushel onfons, 1500275 & bushel: oysterplants 6004800 per 100, parsnips 25a35 a basket. Savoy cabbage. 40280 a bushel turnips, 30240 a basket for washed and 20825 for unwashod Live Cattle Firm. ‘The general live cattle market holds m under moderate recelpts With vaiues showing a wide range In price most of the cattle arriving on the wharves, however, is & common 10 ordinary stock which is slow to find favor even at inside prices Cholce Spring_lambs in good demand - nder generally light receipts Quotations at Light Btreet Whar! today | Beef cattle, first quality, pound, 12 to | 13, common to medium, 6 to 1): bulls. | at to quality, 6 to 8'.: cows, (holen to fancy. 6 to 8. common tc falr o 10 quality, 5 to B; cal\es, veal 15 to 1507 large, fat, 12 1o 14: ] rough, 8 to 10. rough and con- mon, 7 o 8 sheep, cholce. 5 o . old | bucks. 4 to 5. lambs. Spring, cholce. | 13 to 13'. fair to good, 10 to 12° com- mon, thin, T to 8. hogs, stralght, 8'y 10 9. sows. 6 to 7, live pigs, 13 to 18] shoata, 9 to 11 T00 MUCH POLITENESS | IS HARD ON TELEPHONE' Paris Officials Take Steps to End| Flow of Useless Courtesies ' | tract steady have continue for falr and ths mar inrge, Over Wires. Corvespomence ol (e Assaciated Press PARIS — Too much politeness bur-| dens the telephons wires of France and the public s being asked to eut | out the flourishes. . | Government telephone ofelals have advied nsers to eliminate some of the | long-winded forms of courteous usage I asking for and answering calls, but newspapers go further Inquiries about the health of stenr madame, the qhildien and all the relatives and pets are not unusual prelides 10 & Frenchman's business | wswage Lo A friend. and these, 1t 15| are all day long delaying service | Amerioan methods by telephoning are | Cited as good examples | 1t 1 the admittedly bad telephone | service here that has driven offcials | and the public (o seeh some relief | SHinee the government’s telephone | serviee,” Commenta one newspaper. s unable 10 make the machine function, then (he public must not te up lines with the soft nothings of conversation | mueh A5 one musl tegiet the praaing | ot traditional French politeness HUDSON INCOME UP, NEW YORK, January 1 (4 fncome of $14431256 for 1027, equaling 004w share e predon dep | 1026, and showed $3.30 & ahare, | market was again on the upside, but | the | quiet tradin ~comparatively [ tion Monday, but this constituted an Had- | [oon Motor Car Corparation repoits net | g g more popular than 1928 - PART 6. UNDERTONE IS FIRM IN BOND DEALINGS Rails Gain Favor — Utilities and Industrials Show Some Liquidation. IN SHORT SESSION Cheerful Week End News Has Stimulating Effect—Hud- son Motors Feature. Ry the Associated Press, By NEW YORK, January 21.—Major speculative activity in today’s stock the Assnciated Press dertone of firmness ran through the Lrief session of the bond market today. | but trading was again in relatively small !value. Price changes in few instances ;amounted to more than smafl fractions. |and the appearance of hesitancy which bas characterized the list for t4o weeks was still present. Traders continued to watch closely for tangible evidences of a shift in the trend of the money market The volume of new issues during the week was not heavy enough to exert any particular pressure on listed mortgages, ept that there were evidences that a fair proportion of the usual January business reviews helped to maintain | reinvestment demand was being sup- bullish sentiment. Except for the pub- | plicd by new bonds. The week's aggre- lication of excellent_earnings reports by | gate, approximately $120,000,000, was Montgomery Ward and Hudson | practically on a level with the total for companies, both of which were reflected | the week before. Preliminary estimates In brisk gains in those stacks, there of new offerings to cover next week in- was nothing in the day's business news ' dicate that the volume will again exceed to influence the price. | the $100,000,000 mark E i 0 Raiiroad bonds again gained favor in - EewiBmetnigtie View. the listed market. Canadian National eck end commission house com- Railways 4s. Rocks Island 4s and 41,5 ment took a less pessimistic view Of |and Chesapeake Corporation 5s were the recent tightening of time monev cightly higher on moderate buying rates. being disposed to regard it as due | Missouri Pacific 55 were accumulated in to increasing commercial demands. as | nominal amounts, but there was some well as A result of Federal Rescrve pol- | liquidation of the road's general 4s. fey to restrict the volume of specula- | Public utilities and industrials reflect- tive credit. Some disappointment was ed some liquidation. Pierce Arrow 8s nevertheless felt because of the failure | were especially heavy. A few issues in of United States Steel common to con- | these groups moved against the general tinue in its role of market leader, that 'trend, American Telephone 5s and In- stock showing a small fractional loss terborough 5s showing fractional net today at 147° gains. Hudson Motors, which showed $9.04 | United States Government issues fol- A share earned in 1 as against $3.36 ; lowed a steady course. with business in in the 13 months ended December 31, (¢mall volume. Foreign oblmations were 1926, rallied 2. points to 823,, closing | irregular, featured by realizing in the ithin a_fraction of the top. General French group. which has had a stead: Motors climbed 11, points to 135% and 2dvance during most of the week. Hupp crossed 37 to a new high record. | * NEW YORK MARKETS. Chrysler and Nash lost ground. i NEW YORK. January 21 . —Rys— Montgomery Ward, which earned $10.25 a share in 1927 as against $625 the year bofore, ran up 4 points to 125 ' Firm: No. 2 Western. 124 fo.b. Nev and closed near the top. Montana | York. and 122!y €if export. Baries Power was the outstanding individual Sieadier: No. 2. 1.09%y cif | New Yo feature, soaring 7', points to 123!, 'Wheat—Spot irregular: No. 1 dark The Express shares all recorded sub. og. cif New York stantial gains. Other issues for which 'Tail. 1567 No. 2 hard wmn there was a strong demand included ; {0D. New York all rail 1467 Continental Can, Fidelity-Phenix In- No. 2 mixed Durum do.. 1.357.; No. curance. R. H. Macy. Mathieson Alkalt, | Manitoba. do.. to arrive. 162, Corn S. 8. Kresge, Stewart-Warner. U, S | Spot. barely stead: . cif Hoffman Machinery. U. S. Industrial New York all rail. : 3 Alcohol and Vanadium Steel. do.. 1.08. Oats—Spot No. 2 chite, 66'z. Other articles unchang>d. Proft-Taking Effective. Profit-taking was most eflective i RSN s, Greens Cananen. Gopper pemectit® on BANK CLEARINGS DROP. NEW YORK. Jaruary 21 (# . — Match preferred and Otis Elsvator Rails moved within narrow and ir- Northern New Jersey .C.earing Hou regular limits. with a further drop of Association reports clearings of $44 - 4 points in Southern Railway. Mobile 058.867 for the week cnded January 20 & Ohio certificates, as the oniy feature | agAinst $47.263.915 the week oefore and Foreign exchanges held steady in $45.647.359 a year azo . Sterling cables ruling buying operations on = large scale were confined to about a dozen issu Standard industrials and rails show- ed little change on the day, but| some of the specialties were up 2 Trading was fairly heavy for a half-hoifday session, several ! blocks of 5,000 to 15,000 shares chang- | ing hands The cheerful tenor of the week end around 4877 For the fourth consecutive wack the clearing houss statement showed & (“f?gl‘lmm reserve. but it was only $15.- Ut Y s 55 as against $30.707.540 A week o i w0 Agzreante resersa totaled soqs.. Joseph | Weller il 000. The detailed statement of artunl condition this dav showed de- creases in most of the principal iteme Loans. discounts and investments drop- | ped $83.425.000. cash in own vaul £1.381.000. net demand deposits. $6: 208,000 and time deposits. $3.443.000 Reserve of member banks in the Fed- eral Reserve Bank increased $5.103.000 T OTTON D 1670 20 POINTS Easy Cables and Further Mill Curtailment Talk Are Bearish Factors. Money to Loan ot et 01 truist ¢ Wl mh & 1st Trust Loans Aoy Amount N C amd Montgomery County Larze Construction Projects FRED T. NESBIT 010 Vermam Ave W oee ) We are in 4 pasition (e handie con Tian Inane far (hurehes and fustite —Phane Main 44 In Nearby Virginia 2 !0 nlnrulr:te | Commonwealth Investment Co. 1T 136 SC AW Phane Main 2y WE FINANC B the Acsoiated P e NEW YORK. January 21 ton market was lower today. unad, werk end linuidation and local and Southern selling. which may have besn based on relatively easy Liverpool cables and talk of continued domestic mill curtallment After selling off to 186> May rallied to 1871, but lost ihe im- provement. closing at 1868 The w eral market closed barely steady net declines of 16 to 20 points. Opening stendy «t & decline of 13 t 21 points, active months showed net lossas of 16 to 21 points in the first few mir s under selling from Southern and local sources Some houses with | Liverpool conunections were credited with selling also. but offerings were light. and the market stiffend up on covering This demand tapered off. however. and th weakened again in late trading closing at about the lowest prices of the day on_active positions ‘There was not much discussion as to the probable show.ng of the census re- port on ginnings, scheduled for publia The cot- M e 5 Large Loans a Specialty H ast rate A0 oy igbie & Richanho;\. lnc 816 13th St N W The Connecticut Mutual Life Insurance Co. e of the wldest and most cons Furnishes low cout b Cooperates with facas mies und Ramke (8 ereat “ ieneral Agent Construction Loans element of uncertainty which may have had a restricting eflect on [resh busi- ness. There Was some comment on the lower temperatures i the South to the effect that a further drop might cause a further reduction fn the number of lve weevil in hibernation, and the showers reported i south Texas also were mentioned as a favorable featur. from the coming crop standpoint There was no indication of any rain n the droughty section of west or north- west ‘Texas, however. and. on the whole today's fluctuations seemed (0 be more largely due 10 week end evenng up than any particular factor i the day's 1 your building ing, hring your pl od Frme will be saved, | news. The amount of cotton on shipboard Low Interest Rates awalting clearance at the end ot the week WAS estimated at 120000 bales and Commission against 179,000 at the same time lasi year, Which was regarded as suggesting that the export movement for the bal- \lam ance of this month mht hold up a | little closer to laat year's figures than has been the case of late Private cables reported continental lquidation and hedge selling, with & poor offtake in Liverpool and only a amall turnover in cotlon cloths ana VArns, with buyers eautious. NORTHERN PACIFIC. NEW YORK, Junuary 21 (8 - Su plus of the Northsrn Pactic Raltway fo 197, after charges, was about $2.500.000 below 1926, sald Charles Donnelly, presi- January tafie s unuum“ i of last vear. And he expeciad carnings in the frst halt of 1928 v exceed those for the same pertod last vear. He expectead little change in De- | | cember gross earnings and net operat- || ng_neome from those of December | 1026, Burplus in 1926 was $21003.732 or $847 a ahare On the ostimated | surplus for 1937 the total was about | )i} SIHA02 T2 0r §T 46 A share, NEW YORK MARKETS. NEW YORK, January 20 o® - Rye | fArm. No 3 Western, 13300 fob New York and 1324 et expart Ravley seady Noo 2109 =it New York Pork bregular fandlv, 3600w 00 Lavd Armer. Midai Weat 1203810 63 Tallow easter clal loase. 8 B Other artleles unehang Mioveles and matar eyeles are becom rn Bngland \ ] Main 2100 NEW YORK. danuary 21.—An un- ' We Bave Money Available For immediate mvestment, and will be glad to receive ap- plications for lnans on resi- dential, business or investment property. | MBS~ Tel. Main 4752 1415 K St. 7 m‘\ Wright, Slade & Co. MEMBERS New York Scock Exchange New 7ork Cotion 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. Telephone Main 1581 Resident Partn Adding Machines —All makes sold. rented, repaired. Monroe, Burrcughs comptometers, special for inventory. S5 per month United Type & Add. Mach. Co. Money Available for FIRST DEED OF TRUST LOANS 6"«' /0 Reasonable Commission Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. Let have tinns for LOANS ON REAL ESTATE Immediate Action Courteous Treatment rears speakx Percy H. Russell Co. 926 15th St. N.W. Mortgage Notes Safe—Conservative ake 40 Years L3 & ol Experience at the highest In financing nrerest t homes and n comsistent with he saie of shsolute these secu safety. ties. Wm H Saunders Co . Inc REALTURS Main 1016 1433 K your and First Mortgage and Construction Loan Applications lavited at 5Y2% | Glover & Flather 1508 H St. N.W. Main 1753 ts call for quiek R R Ay work wr Immediate Answers on Applications SAatlL CO. s 1S St KWL F. ' Profitably Operated Apartmen closely serutinized— disclose the fact that the management has been scrupulonsty caretul effect every possible ceonomy that etficient management with altow I'his 13 i hine with the spectalized management put at the apartment arvee we disposal ot OWners, . SAUL CO. O3 15th Se. N W