Evening Star Newspaper, February 18, 1928, Page 14

FINANCIAL. RESERVE OFFICALS - T0 ATTEND DINNER Young and Others Among Honor Guests Tonight. Financial Notes. BY EDWARD C. STONE. Roy A. Young,-new governor of the Federal Reserve Board; William W. Hoxton, chairman: George J. Seay, gov- ernor, and George K. Kassee, cashier, of the Federal Reserve Bank of Rich- mond. will be among the honor guests at the banquet at the Willard tonight of Washington Chapter, American In=- stitute of Banking. The president of the national organization. P. R. Wil- liams: W. W. Spaid. head of the District Bankers' Association, and Harry V. Haynes, chairman of the Washington Clearing House, are also to be at the head table. More than 800 guests have reservations, a new attendance record. Approves Trust Co-operation. John B. Larner, president of the Washington Loan & Trust has written to the District of Columbia Life Underwriters’ Association expressing full approval of the effort to encourage co-operation between the life insurance and trust companies in the placing of life insurance in trust. He believes the most effective method to promote such NEW YO Adv Rumley pf. Ahuma Ajax Rubber. Alaska Junea... Albany Papr(2) Allied Cm pf (7) Allls Chaim (6). Amal Leather, Amerada (2)... Open. High. Low. Close. 961 964 96'% 964 124 124 12w 124 361 36% 36l 36% Lead.. 34 Air Reductn (5) 1814 182 10 124% 115% Am Agricul Chm Am Agri Ch pf.. Am Bank N(t3 Am Brown Bov. Am Brown Bo pt Am Can (2)..... AmCar&Fdy(6). Am Chicle (3).. Am Drug (80c). Am Express (6). Am & For Pow.. TN 105 % 12 186 28 3% 26 Allled Chem (8) 147% 147% 34 8% 1814 182 10 % 10 3% - 3y 264 26 26 146 146% 124% 124% 1154 116 1% 27% 124y 116 1% 2T 60% 80 105, 14 12 189y 234 T 1044 105 ki 7 1 11y 186 1894 Am&Fo Po pf(7) 107% 107" Am Ho P (240). Am lce (t215). . Am Internati(2) Am LaFr&Foam Am La France pf Am Linseed pf Am Piaro..... co-operation is to make it mutually ad- | Am Piano pf(7). Vvantageous. | I - generally conceded. Am P& Ltefl). hat the policies issued | am Ry Expi6).. for after- | am Republie. .. installment | Am Safe Itaz(4). ry when there Am Seatinz (3). to the beneficiary, the | Am Ship & Com., e paid and the time for Am Shipbldg (8) 105 Am Smeiung(8) The banker concludes by stating that he has devoted much time to the laws of the District covering such trusts— duration, provisions that may be made and persons and_institutions that may be made beneficiaries—and offers any of this information to the underwriters, including printed forms covering dif- ferent clauses in such trust agreements. Life Insurance Shows Gains. New paid-for life insurance written by American companies last month aggre- gated $858.240.000. an increase of .2 per cent over the corresponding period a year ago and 1.5 per cent over the same month in 1926, according to a Topo! rwarded by the Life Insurance Pres) 's” Association to the Depart- ment of Commerce. The report is an aggregate of the figures of 44 member companies. having in force 82 per cent of the total insurance outstanding in United States legal reserve companies. Of the total new busifess, exclusive of revivals, increases and dividend addi- tions, $575.096.000 wgs ordinary insur- ance. a decrease of .3 per cent over month in 1927 $236,303,000 insurance. an increase of 27.5 and $6.841.000 group insurance & decrease of 50 per cent. Sandy Spring Bank Prospering. The annual report of the Savings Institution of Sandy Spring, which is in the same building with the Sandy Spring National Bank. has just issued & very favorable statement for 1927. Funds on hand on December 31, 1926, amounted to $2.272546.28. During the year $450,253.14 was received from de- tors while interest and dividends ocks, bonds, loans, etc, reached | 457.49. he bank paid depositors during the year, including $116.920 interest, the sum of $424.339.80. Payment of other xpenses, taxes and premiums during 1927 left total funds on hand at the end of the year, $2.851257.21. The bank has assets and liabilities of $2,407.850.97. The officers are: Asa M. Stabler, chairman of the board; Alban G. Thomas, president: C. L. Brooks, vice president; F. L. Thomas, treasurer; Francis Miller, secretary: Sallie P. Brooke. assistant secretary, and Josiah | W. Jcnes, field officer. Cities Service Yearly Net Up. Cities Service nst earnings for the 12 months ended January 31, 1928, amounted to $31,739,717, as_compared | with $25.688.083 for the 12 months ended January 31, 1927, and is an in- | crease of $6.051.634, or 23 per cent. to common stock and reserves for the 12 months ended January 31, 1923, was $22.392,015, as against 5.741.493, an increase of $5,650,522, or | 33 per cent. The company's net earnings were equal to 125 times interest and dis- count on the debentures. Net to com- moi stock and reserves was equivalent 10 25 of on.. Biumenthal pf. Bon Ami Cl A4 | Booth Fisheries, - Borden Milk ¢ Boston & Maine Botany C MiilsA Briggs Mfg Co.. | British Empire. British Emp 2d. Bklyn-Edison «8 226 22 Bkiyn Man of (6 Bkiyn Un Gas(5® 148 BrownShoe(2%) 43 Brunswick B (3) Brunswick Ter. . Bucyrus-Erie (1) 24% Bucyruscv (24) 33w Burroughs(t4).. 155 6% per cent on the average amount | Bush Tern (g2). ommen stock outstanding, or $5.33 | Bush Ter de (7). 111 10 53 90 0 Am Locomot(8). 1081 AmMa&Fy pf(7) 221 Am Mch&Fdy(2) 157 41% nw 20 £4l 64 the | Am Radiator (5) 132 561y 38 4 i 2 | Am S & Rpf(7). 1323 Am Snuff (12).. 153 Am St Fdys (3) Am St Fy pf(7) 114 Am Sugar...... 554 Am Sugar pf(7). 1001 Am Sumatra.... Am Tel & Ca (5) Am Tel & Tel(9) 178% 178% Am Tobacco(8). Am TobaccoB(8) 156% 157 Am Type Fo(8). 116% 116% Am Type pf(7).. 112 Am WW&El(e1) Am Woolen..... Am Woolen pf.. Am Writ Pa ctfs Am Zimne... Am Zinc of Anaconda (3). Archer-Dan (3). ArmourDel pf(7 ArmourofI1ItA) Armouroflil(B) Armour L1l pf(7) Arrold Con & Co Artloom (3).4.. AsS0 Drv Ge2%) Asso DG 1st (6) 108 Ass0 01l (2).... Atchison (t10) Atch T&S Ferts. Atchison pf (5). AtiCoast L(110) 176 AtI Guif & W1.. Atl Gulf& W1 pf. Atl Refining (4) AtlasPowder(4) Atlas Tack.. Austin-Nichols. Austrian Cr 4.52. Auto Sates..... AutoSales pf(3) Autostrap A (3). Baldwin Loc (7) 244% 245 Bald Loco pf (7) 119% 119% Balto &V (6)... 109l 109% Bang & Ar (3%) Barnet Leather. Barnsdi Ab2z%) Bayuk Cigars... 115'y 116y Bayuk 1st pf(7) 108'5 108% Beacon % Beechnut (13).. Beiding Bros (2) Belg Rys pf 4.12. Best & Co (3)... Bethlehem Steel Beth Stl pf «7) 55 55% 30 156% 551 224 56% 17 37% 1833 3u 103% 3TW 40 97% 65 10% e 34 Bly 344 ELED Y% 43 224 14% 3w 19% 85l 56% 58 121 40 167% 58 19' 21% 4% T 87 50% 17 59% per <hare of $20 par value common | Bush Trm pf (1) 117 stozk. Bank Building Nearly Completed. Victor B. Becond Ni al Bank, reports that the | street is suffciently far ad- | office will be ready for of April. The bank will | ew quarters about a the temporary quar- As stated ne ago, the new bank will have Jence, the general | ¢ been planned W give the possible service to the patrons. Heard in Financial District. i ce President L W. Hoffman of the 1 L Ba of Richmond ute banquet | | ¢ g5 of Oklahoma in the House ational and State of the Federal nish bonds e Has wGuckd & b i would req for | Ch | ButteCop & Z... | Butte&Super(2) Butterick €l .. president of the | Butterick Co rtx .. 101 ing under construction | By-Products (2) Calif Packg (4). Cal Petm ctfs. Callahan Zine. Calumet & Ar(6_ Calu & Hecla 12) 21 | Canbry G Aiez) 60 tver & (0 .. “an 1% “an P; sifte «10) ull pd. hat-Fh Bk(16) t *hi Gt West pf. Mil&StP., Jors Co. of Baltmore, | Gy g Nwn (4).,, 1 here by Col. C. W. $500,000 first mort- | 51, per cent bonds, | rade during the | 13, a5 indicated | nilds (2 49) leCoi2%) iristh B (1.20), hrysier Cor (3) check pRYments, | Gy Stores (B). san in the preced- n in the cor- accoreing v | the Depart- | B. & 0. NET INCOME LESS.E ry Repurt Judicates ml From 1926, bruary 18 (FBpe ry etatement of altimore & Oblo enden Decemter | soome of §226 Figures of Lhils e | It 25446258, ur 817120 & share nares in 1926 of & per eent reuinng $10,- more than vas | 2 ensrenolders | 16 81847766 | 925041 e onice f Ui compeny i 1926 . OF IN CRUDE RUBBER. ruary 18 (Specisl) ed niled sheets Bt U0ay'e quots- | ¢ compares with 40 & B yeer Bgo, . % dog Yesms in ! & will in parte of Caneds, et Peab (6). oca-Cols (6) ... “olline & Atk($) Cotlins&A p1(1) | Cot Kuel & tron. Col Gas & K t5) ol Carbon 14).. Com Crea (1). .., ComCred 18t 6% Com iny LT3 60 Com In Tryt 6% Trf1) plentnis). Com Pow 12% b, Conde NastiZ). . Conguleum-Nair Cong Clzars (4), s Clics Consol Gamth). ., Cunmultiae pfib) ConlziCuba vt & Consol Testile. . Cont eke A 14) Cunt Baking 8., Cont 1k uf (8, Cont Can (6) ., Cont Car pfi7) L T DV Y it Mont (86¢) Froa (13), oty Ine (g6) b Company « LCuban Am B 1) Cuban Am pfcT) by Pk (4) Curtiss Aero (1) Lavison Chem lieere&to ufil) el & Hun (4) el L& W (1) 68% 3% 24% 93 199% 194% 194'; 194! 194% | Loose CaneThrestx(6) 252y | Cent Alloy (2)., { Century Rib M.. Cero de Pascoid) Certain Teed (4) Certo Corpnit4) | Chandier Mot v, e Ches & OB10(10) 128 188% 18T% 1877 C& O Corpn (3). Chi & Alton, Chi & Alton pf | Ch. & East L1i.... Chi & Kast 11) pt | Chi Great Wi « w9 1i% €213 57 75 1 620 74 % 9 22% 16 9% - | Chi PPue Too) (6) 125 Cnt Rock 18 (6). 106 44 P 16 CCC&SUL pL5), 110 4l 1055 il 0% 90 21% 9w i w4 105 157 64 61 el 1 128 1014 £ 4nn 2 9 1265 4 24 [ bhin ohia L 16 16 [E] 90 107% 108 221 21 90 108% 221 157 417% 117% 20 84 1N7% 1174 20 20 £37% 837 64 65 131 132 131 131 5 55k 6 56 38% 38% 4 4 105t 105 170 105 51 5 56 00 100 100 55% 30 1 30 30 178 1784 156% 156% 1564 157 116% 116% 12 112 554 55 22% 22w 561 56% 17 17w 13% 157 112 43 108 108 38 184 3% 103% 177 574 40 98 65 10% 4% 34 St 244 44 65 10% 4% 3 8. 34t ELEN 244 119 109 71 43 224 224 115% 116'% 1084 108% 65 10% 4% 34y 8i4 344 LI 245 119 Tl 224 14% 6 16.% 58 19% 21% 18% 18% 2% 21w M 4w Qe T W . T4 22513 225 7 K7 87 148 1438 48 48 20% 30% 0% 17% 17 17% 25 24% 25 33% 33% 155 150 59% 59 . u1 u7 a7 o 4y 9% 9w 45'% 3 1025, 68 ¥ u7 4n 9% 2% T2% 244 Z4% 2 4 2 89 90 2l 20% 21% 60 5B 60 299 199% 1994 5H2hy ¢b2 29'% 2ZK% 1% 11% 63 62% 2524 28% 621 620 620 k) % Al 870y 63 9in 2% 16 ) 124 w7 3% by Bia 37% 63 9% 22% 16 3% b Bl 370 22 15 T9% 126 106 48 i 9% 126 106 440y 4y dMly WA 1B 116 1170 hie 6% 47 Tite Tt Ti% 110 110 110 Ve BA% B5Y% 129 Ry T HA 105% 105% 105% T4 71 1M YOl B0 Y% 9 na 21% o0 01 46 195 105 ' 158Y 106% bal il [ 8% 2% 6l B0l ' VZB 2T 12RY 101% 101% 101% 0 0% . " ant 4B b WA Wi phe 9 KT 1260 125 v 16% 0% 104 Gha bh 195 4 101 194 6% ELUSET & T 116 117 v 168 ) 130 130 o6 130 34 3% 17% B 54 54% | Gl | Indian Refining. 10% " Nut Distiliera nt [ 101% 1010y il 64k ELEN 1634 THE EVENING STAR, WASHINGTON, D. €, SATURDAY, FEBRUARY 18, 1928. . Low. Close. 62 b2 176% 176% 48 48% 149% 149% Dome Mines (1), Dul SS & Atlan, Dunhill Int (4). DuPont deN(10) Eastman (18). Katon Axle (2) 1senlohr & Bro. Eleo Auto L(6).. Electrioc Boat Elec Powr & Lt. Eleo Refrigeratn Elec Stor Bat(5) End-John (5)... Engineers Pub 8 Equitable pf (7). Equit Blde (7)., EquitableTr(12) 1% 12 61 315 817 164% 315 817 164 164 28 28% 16 16 118% 119% 13% 13% 81% 324 13 13% 69% 694 8% T87% 33 334% 200% 200% 101% 101% a7 a7 Ao o H4% haM 33% 33% 0% 0% 688 688 494 49'% 101% 101% 20 205 2041 20 103% a7 Far Lo & Tr(16) Ked Liztihl.40). Fed L&T pt'(8). Fid Phoe Inst5). Kirst NatS(1%) Fisk Rubber., Fleischmann(3). Fisk 1st pf (7)., Foundation Co.. Fox Film A (4). Fox Film (rts). Freeport (+% )., Fuller pr pf(6).. GabrielSnb(33) Gardner Motor. . Gen Am Tnk(4). Gen Aspnalt. ... Gen Asph of (5). 661 Y% 104% 104% 19% 21 12% 134 Gen Cizars (4)., Gen Eleo (15).. GenElec sp(60c) Gen GasA(o1%) Gen Gas B(el) Gen Motors (5). Gen Outdr Ad(3) Gen Ry Sig (5).. 104 Gen Ry S pt (6). 115% Gen Refrac (3). Gillette Raz (5). Gllfnhcl Bro! 264 361y 3R 38 1324 134 46 48 103% 105 115% 115% 68 68% 994% 100 38y 887 20% 214 96% 96% 80 109% 109% 57% 59 98% 984 83 834% 8215 R3u mr o1 123 123 9 9 16% 17 39y 39% 93% 93% 21 21 3% 3N 13 1 % T4 454% 45k 52% 5:% idden Co. Glidden pr pf(7) Gold Dust (3)... Goodrich Ru (4) 80 Goodrich pf (7). 109 Goodyear Tire.. 60 Goodyr 1st pt(7) 981 Gothm Hos $23%. 834 Gothm new $215. 8344 Gotham pf exwar 111 Gotham H pf (7) 123 Gould Coupler A 9 Graham-Paige.. 17 Granby Con Min 39% Grt North pf (5) 3% Grt Nor O (1%). 22y Grt Wn Sug 2.80 31% Green Canan.... 118'% Guantanamo Sug 7% Gulf Mo& Nor.. 454 Gulf States Steel 534 Hacknsk Wi1%) Hanna Ist pf... Hartman A (2).. Hartmn B(1.20), HavEl Ry pf(6). Hershey Corp Hoe&CoA.. Hollander & Son Household (t4). Houston O1l Howe Sound (4) Hud Man (2%). Hud Man pf (5). Hudson Mot (5). Huop Mot(1.40). lllinols Cen (7). indepOll (1)... Indian Mot (13%) % &l T 361 8% 37 134% 134% 1 22 22 39 39 2 8 84 8y ¥y 20 90 20 4N 4Rl 4R 118 118 116 18% 19 18% 160 16% 164 13% 13% 554 55 55 127% 128% 126% 126% 63 63 62 63 46% 46% 454 45% 225 228 224% 227 964 95% 94 E3) 35% 35% 35% 35% R5ly 86 8l 83U 694 694 68'; 681 107 107 107 107 63% 634 63 63 254 25% 254 140% 140% 140 51 51 51 51 8 % m 115% 1164% 114% 11615 30t 30% 29% 30w M 9% 9N 9% 52 52 52 52 68 684 6T 6T% 15% 16% 15 16 56 56 56 56 K0 0% KO EOW 9l 91 81 9 64 6 63% 634 66 66 65% 65% 4% 24% 14% 4% s T T 5 28 28 23 28 24 K3 NN K2 184 39 9 indian Refg ctfs Inzersoll Rd(t5) Inld Stl (p16%). Inland Stl pt (7) Inspiration Copr Intconti Rub(1) Internat Agri... Int Agricul préor Int Bus Ma (5) int Cement (4 Int Com Eng (2) Int Harv (§6)... ! IntMtch pf(3.20. Int Mer Mar pf. Int Nicke! (2)... Intl Paper(2.40) Int Paver of (7) Inter Salt (6)... Int] Silver rts | int Te1 & Tet Island Creek (4) {Jewel Tea...... Johns-Maran(3) Jones Bros Tea. Jordan Motor Kan City South. Kayser J (4 18% 161 1374 5 140 Kelly Tire 8% pf Kennecott Ci5). Kinney of (8) Kraft Ch (1 1% Kri Kresge Dept S.. Kroger Grociel) Lago Ol 1 T5¢) Lambert Cots) Lee Tire & Rub, Lehighvali3y) Lehn & Fink(3), LifeSav (160), Lig & Myers(15) Lig&MyersB(15) { Lima Loco (4)., Lia Carb 13.60), Loew’s Inc (13), Loft.. 5 105% 105% 105% 106 56 56 66% 66% 8% 59 6 6 S04 51% 36 37 105% 105% 105% 105% 56 56 6514 654 5% 59 6 6 504 51 368 36% 10 10 9% 9w 285 284 28% 28% 14613 14615 1461 146 29% 30% 9% 30% 60'5 €0% 60 60 0 9r- 90 9814 9TH 9Ti4 110110 110 110 4% 4% 29% 24 Aba 4T 45 45 20 0% 19% 20% MR BB AR KB ¢ ‘72 12 73 52 62% B1% f2 425 42% 424 424 32% 32 31% 31% 12 124 124 PR T 43 33% u3 #an 46% 46%% 46% 461y 1204 120% 120% 1204 ™ B0% 30% [ 13 25% 214 199 21 1 Lorfllara Co. o1l Louts & Nash(7) Ludium Steel(2) MeCall Corp (2), McCrory A (2 Mack Truck Mackay (7) blad Sa Gr (1%) Magma Cop (3). Mallison & Co. . Mallison of (7).. Manati Sugar pf Man El Bup (b). Man El m g (45) 8i 2. Maracuibo Ofl. Market 8t prior. | Martin-Rocke Mathieson Al(6) May Dapt 804) Maytag (13). Mexicun Heub, Miamt Cop (1) Minn & St Louls Min St P&SSM. , M 8t PASSM o, Mo Kun & Tex. Mo K&Tex pft7) Missour Pacifio Missouri Pac pf. Montana Pow 8 Mongmry Wi1h Moon Motor. other L 160e). Motor Met 13.60) Motor Whi (2).. Mulline Mfg.... M ewr (3). Murray Corp... Mot (16%) 106% 106% A5 A1h, 1064 106Y% 148 1461 1364 A»l-;ih % 106% 106% ah ah 107 145 137 % 2% 1% 18% 26 26 764 T8 AT 2w Ri% Bl% 1% 11 Hbe B Ys 08 163% 164% Ay 1wl 49 49l It hithia 107 148% 187% % 21 1453 (EL LN ELL v 49 [ 284 LE 64 244 129 12 24 245 ELE 16 118 40 0 19% 1hk 190 P TN 166k 166 156 158% 126% 1280 V264 124 10K 10RK 1081, 1084 51 b2 % 60l 60 60N Nat Distiliers, Nat Knamel & 8. Nat Lean (6) ..., NatPowsL(800) Nat Hadiator. .. NatBupply pf(1) Nut Bu Nevan, 1 NY AIrBrad),. NY Cent t SV CASILI8) NY CHULpI8). NY I BANH&Ha() NY NH&H of(7) NorAm d10% stk Nortg Pae (6).. Otis Elevatr(17) Otis Steel...... Otis Sti prior(7). Owens Bot (ct4) Pacific Coast.... Pacific Gas (2 ( Packard Mot(3). Pan-Am Petrolm Pan-Am Pet (B). Panhand| . Parmt-Fam(18). Park & Tilford. . Park Utah (80c) Pathe Exchange Penick & Ford. . Penn Dix Cmt(2) Pa Dix Ct pf (7). Pere Marq (18). PhilaCo6 % pf(3) Phila&RCl... Phillips Pet (3). Phoenix Hoslery Pierce-Arrow Plerce- Arrow ! Pierce Ufl....... Plerce Petrolm. Pilisburv (1.60). Pitts Coal . Pltts&W Va(6)., Porto Rico Tol Porto Rico To B. 1 Postum 5).. Pressed Stl C: ProphyBrush(3) Pub Serv NJ(2). Pullman Co (4). Punta Aleg Sug. Pure Ofl (500)... Purity BakA(3). Purity Bak B (2) PurityBak pf(7) Radto Corp of A. Radio Cpf (3%) Reading Ry (4). Reading 2d (2) Real Silk Hos. Real Silk pf (7). Remingtn: Rand. Reo Motors(t1). Rep Ir & Stl (4). Reynolds Spngs. ReynidsTobB(5) Richfield Oft (1), Reis, Robt & Co. Rossia Ins (6).. St Jos Lead (13) StL&San F (18). St L&Southwest, St L Swn of (5). Schulte (3%)... Schulte of (8).. Seabd Atr Lin Seab Air L pf. Seagrave (e1.20) R ) (n2 Copper. . Shattuck F G (2) Shell Un (1.40), Shubeft The (5) Simmons (2). Sinclair Ol Skelly O11 12) Snider Packg Co Snider Pkg pf So Por Rie St South Por pf(8) South Calif Ed.. Southern Ry (8. SouRyM&O cfs 4 Spear &Co...... Spear&Co ot (7) Spicer Mfg..... SIdG&E (3%) Std Mill (5) Std Millg of (6). StandO Cal(2ig) StdOILNI(113%) Std OIINY(1.60) Std Plate Glass. Std PiGlass pf.. Sterig Prod17). Stewart-War (6) Studebaker (5). Sun Oil (n1) Superior Ull. Symington. Telautogh (80c). ‘Tenn Copper «1) Texas Corpn (3) Tex Gulf Sul (4) Tex & Pacifie. .. Tex PC&O(60c). Tes Land Trstn ‘Thatcher Mfg Thatch cv pf 2.60 The Fair 12.40). TidewaterAsull. TIdWASOIpf(6) Tide W OIl pf(§) Fimken (15). Tobae Prod (m). Fobac Prod A (7 Transeont Oil. .. Transue & W(1) Twin City R (4). Udwd-EI F (4).. Union Carb (6). Un Bag&Paper. . Un Ol of Cal(2) Unton Pao (10). Un Pacific pf(4) UnitedBis(1.60). UtdCgrstCsoe) Utd Cgr St pf(8) United Drug (9) Utd Drg Ist (3% Utd Fruit 1by) USCIPEF(I0) S Distributing Hoffman (4) Alconol (6). Leather w1, Leuther A, . Leat pr (7). ) cecececeecc ceecbennn U8 Smelt (34). U B Steel Uni Plpe & Iiz), Ut P&Lt Ace2), Vanadium (14). Vick Chem (4)., Vietor Tik Vietor o pf (8).. Vietor pr pf (7). Va:-Caro Chem. . Ch 6% pt Vivadou (b10)., Vulcan Detin Wabash. .. Waldorf (1%4)., Walworth (1 20) Ward Haking B, Warner PloA... Warner-Quin(z) Warren Hrost4). WarF&Pipe Co W' Penn K pf W Penn Kl of ¢ PPois).. P Po pf(1) rn Dairy B Went Maryland, West Md 34 of.. t West Union (8), enthse A BiZ) W Westinghse (4), White ftook(13), White Bew Mach Whit Willy, Wilson & Co. ... Wilson Co pf A, Wilson & Co pt. . Waolworth (8).. Worthn Pump. . Wrikht Aero (3). Wrikley W 134, Yale&Town(18), Vellow Truck. .o Yol Ts & Copt.,, RK STOCK EXCHANGE by Private Wire Direct to The Star Office. Oven. High 116 116 2415 26 181% 181% 60 6 121% 121% 6315 41y 0% 424 0% 28% 20 66% 130% 131 109% 109% 87 87% 567 56 44 THW 1T 404 40% 110% 1104 6% 1204 Tl 4615 18744 404 434 191y i Kb 37% 81 106's 195 Hle 1001 401y 140% T 9 privig 1104 Hw 20m ) @1 0%y 0 166 50% ViTw 1770 2ale 28 T4 TN n n T i Vil 1% 40 viw 109% 869 567n b9% 3% 914 3% a3 108 12% 96 23 147Y% 1% 85 % FIERGE REACTION Price Movement, Which Be- gan Yesterday, Resumed. Fresh Liquidation Noted. By the Assoclated Press. NEW YORK, February 18.—The re- actionary price movement in the stock market, which reached considerable violence to the last hour of trading yes- terday, was resumed at the opening to- day. Over-night margin calls apparent- lv _had brought in fresh liquidation. Early declines of 1 to 21, points were recorded by Midland Steel Products pre- ferred, Radio Corporation, Freeport Texas and Johns Manville. ‘The early decline was an orderly one. Trading was in relatively small volume, which was construed as an indication of the absence of any extensive forced liquidation. Short Covering a Feature. Shért covering also acted as a buffer to absorb the selling shocks. United States Steel common and General Mo- tors received fairly good support, show- ing only fractional recessions. Freeport Texas extended its opening decline to 3 points by touching 68, as compared with a high of 1091, earlier in the year. Texas Gulf Sulphur, which reached a peak of 805 a few weeks ago, reacted 1 poiny over night to 6815, More than a score issues dipped a pomnt or so in the first half hour, the list including Montgomery Ward, In- ternational Cement, Mack Trucks, Pull- man, Reynolds Tobacco B, International Nickel and Westinghous2 Electric. For- eign exchanges opened steady, with sterling cables quoted at $4.879-16. Markets at a Glance NEW YORK, February 18 (#).— Stocks, weak; Freeport Texas off 4!4, 43 points under year's high. Bonds, easy; week's new offerings drop to $86,000,000. Foreign exchanges, steady; sterling slightly higher. Cotton, ad vanced; trade buying. Sugar, higher; Cuban support. Coffee, eas local liquidation. NEW YORK, February 18 (®).— Prices of heavy melting steel scrap No. 1 are firmer in the Pittsburgh district. a few sales being made at $15 a ton. an advance of 50 cents a ton over quota- tions a few days ago. BUSINESS FAILURES NOTED.—R. G. Dun & Co. report 520 commercial failures in the United States this week. against 546 last week and 484 a year 0. % 8INDUS'!'RXAL PRODUCTION.—Data upon general industrial production for January as indicated by the consump- tion of electrical energy shows that the business and industrial optimism in virtually every section of the country is based upon a solid foundation, Electri- cal World States. Reports of energy facturing companies reveal that the rate of industrial production for the month was close to 9 per cent greater than that in December and 7.4 per cent above January, 1927. The gain reflects great- er activity in the metal industries, au- tomobiles, leather and its products, rub- ber and its products, chemicals, and food and kindred products. Commodity News CHICAGO, February 18 (Special).— Livestock and ranges in the 17 Western States are in good condition. The animals went through the Winter with but light losses. In the far West, ranges are jn excellent condition, but there is a lack of moisture in parts of the Southwest. Restocking operations have been curtailed by high prices. Poultry. PORTLAND, Oreg.—Carload ship- ments of turkeys are being sent East from here and a still further supply will be shipped shortly. Practically all of these birds are going into Eastern cold storage. ‘Wheat. farmers seeded 2,189.000 acres of Win- ter wheat as compared with 1,751,000 in 1926. Clothing. CLEVELAND.—The Richman Broth- ers Co. clothing manufacturers, has announced a plant addition which will increase its productive capacity 40 per cent and that it contemplates ?emnl | stores in Chicago, Detroit and New | York. Merchandise. PHILADELPHIA. — Distribution at retail and, wholesale is broadening throughout the district centering about Philadelphia. Railroad shipments of merchandise and miscellaneous com- modities are showing a decided gain over those of last year. Demand for funds for commercial purposes is active. BERLIN BANK STATEMENT. BERLIN, February 18 (#).— The Reichsbank report as of February 15 shows the following changes in reichs- marks: Gold and bullion decreased 231,000. Reserve in foreign currencies decreased 29,000. Bills of exchange and checks decreased 379,721,000, Silver and other comns increased 10,779,000. Notes on other banks increased 4,338,000, Advances increased 35,648,000. Inves! ments increased 1,133,000 Other asse increased 5.876,000. Notes in circula- tion decreased 253,416,000, GERMAN BONDS AND STOCKS. By Special Leased Wire to The Star. NEW YORK, February 18 Bl 57.00 Asked Gt Red Loan with draw s or 100 R M. ... .00 [ withoit per 1000 R M 49 00 v l W0 aroo Vot W oy o Fle i Povar Bask Viewna' |1l North German Llovd Austilan A B G (e Elec) . The death rate from cancer in this country 15 estimated to have visen from 64 per 100,000 persons in 1900 to 111.5 per 100,000 14 5 78 Ooen vt High Low. Close Youneatn 8h() [T Y oty ¢ Mie s g lue 83 ue -ln. preforced consumption by about 3,000 large manu- | JEFFERSON CITY, Mo.-—Missouri | STEWART'S ARREST DEFENDED IN BRIEF Wickersham Declares Senate Had Right to Act Against 0il Man. By the Associated Press. Arguing for the dismissal of the writ of habeas corpus obtained by Robert W. Stewart, chairman of the board of the Standard Oil Co. of Indiana, the Gov- srnment filed a brief today in District Supreme Court asserting that the Sen- ate, in_ordering Stewart’s arrest, was not inflicting punishment, but rather was adopting a means of coercing him to follow its lawful directions. The brief was filed by George W. Wickersham, special counsel appointed by the Senate after Stewart had refused to answer questions of the Senate ofl committee concerning disposition of profits of the Continental Trading Co. AUSTRALIAN PROGRAMS TO BE BROADCAST IN U. S. Radio Features Will Be Picked Up and Sent Out From Buffalo. | By tha Associated Press. | BUFFALO, N. Y., February 18— Radio programs from station 2FC, Sydney Australia, will be rebroadcast | next Monday, Tuesday and Wednesday mornings by the Buffalo Evening News through station WMAK, Buffalo, it was | announced yesterday. The period of rebroadcasting will be | from 7:30 am. to 8:30 am., Eastern standard time, this corresponding to 10:30 to 11:30 p.m. in Australia. UNION VETERAN DIES. W. E. Cooper, 92, Succumbs After Short Illness. Willlam E. Cooper, 92 years old, Union Army veteran, died at his home, 529 Twelfth street northeast, yesterday | after a short illness. Mr. Cooper was a retired carriage builder of Kansas City, Mo., and came | to this city seven years ago. He was a member of the Grand Army of the Republic here. He served during the Civil War as a member of Company F, 103rd Regiment, Illinois Volunteers. He is survived by five daughters, Miss | Eunice G. Cooper and Miss Anna L. Cooper of this city: Mrs. Mary Mar- shall of Wichita, Kans.; Mrs. Emma | Tibbits, Kansas City, and Mrs. Nettie Garrison of Charlotte, N. C., and two | Funeral services will be conducted at | o'clock. interment will be in Arlington | Cemetery. | Tunnel Builder Succumbs Here at Age of 63. | Peter R. Haley, 63 years old, con- | struction superintendent for the G. H. Fuller Co., and an expert of tunnel building. died at his apartment, 1474 Columbia road, vesterday after an ill- i ness of about a week. Mr. Haley was Continental Construction Co. of New | York to superintend building of Jersey avenue southeast. As an inde- | Baltimore sewerage tunnel. Mr. Haley is survived by his widow, Mrs. Sarah E. Haley; two daughters, | McNamara of Haverhill, Mass.; a son,| | brother, John Haley of New York. Funeral services will be held in | at 9 o'clock. Burial will be in Mount | Olivet Cemetery. DRY GOODS MARKET. | NEW YORK. February 18 (Special) Cotton goods market closed the week end moderately active, with print clof prices unchanged at 73, 8% for 68x72s . Raw silks advanced § in a busy market. 4 sons, Sands L. Cooper of this city, and ||| George F. Cooper of Pasadena. it | the residence Monday morning at 10:30 | || PETER R. HALEY DIES. | | pendent contractor he later built the || i Miss Virginia E. Haley and Mrs. F. X. || Peter R. Haley, jr, of this city, and a ||/ Sacred Heart Church Monday morning ' | FINANC LNES INDICATE MONTHLY. ol i |l ol AL | ]| PER SHARE ANALYSIS. What Is Back of Fach Sha Sept. 30. 1927, er share. 31910 *Bonds Net assete for capital stock . Shonds weie o be retired Febr year average annual earnings. .. ke 1075 Saeiss paid coniimie the average for the 14 years be- RO stock sields 6% (Consult_veur banker or hioker for fur. ther information as to valas tack of this ok, ) Scrapbook this fir future reference, TAL. ROLLING MILL <1IWING., Eastern Corporation of Baltimore Expects Favorable 1927 Report. BALTIMORE, FPebruary 18 (Spe- i clal) —While the annual report of the Eastern Rolling Mill Co., to appear next week. probably will not reveal s very favorable experience in 1927, it is understood on good authority that earn- ings so far in 1928 have been running considerably 2head of the previous year. Prices of the company’s products have advanced substantially recently and operations are at 100 per cent of Increased activity of the automobile | capacity. it is the steel mills. | tactories is benefitting this company as . ORDERS 7.060,000 RAZORS. BALTIMORE, February 18 (Spe. cial).—The Gillette Safeiy Razor Co, has booked an order for 7.000,000 razors, delivery to begin March 1. according t advices received in the financial distriet, line. The figure is a minimum under the terms of the contract. This is one | of the largest single orders the company has ever received. The stock of 'he n;;’mnany is extensively held in thig city. {| 1st Trust Loans Any Amount Have You Been Stung Yet? Some men have to get stung good and hard before they learn to be cau tious in making investments. Before you invest—investigate. Brokers and Owners We want good applicat on Washington prope large or small. Low Interest Rates and Commission B. Mai for LOANS on Located in the D and adjacent Subu D. C. and Montgomery County | Large Construction Projects || FRED T. NESBIT 1010 Vermont Ave. M. 9292 ions f rty. or ] Arangt Immediate Answcers on Applications F. SAUL CO. n 2100 925 15th St. N.W. APPLICATIONS INVITED IMPROVED PROPERTY istrict ot Columbia rbs of Montgomery and Prince Georges Counties, Md. 52% born at Burlington. N. Y. and came!|! to Washington in 1905 with the Jewell- | |! INTE f theill Southern Railway tunnel under New || A The PRUDENTIL | i i i ROCK SALT regions of Morocco rock REST ’y to H. L. RUST COMPANY LOAN CORRESPUNDENT AL INSURANCE COMPANY of AMERICA 1001 15th Street N. Ww. Main 8100 CURIOUS CURRENCIES salt takes the place of money. Sorry indeed is the plight of the man wh 0 has left his “wealth” exposed to the rainy season, When the rainy season comes to the American, he does not want his money invested where it may be washed away by fluctuations in the money and stock markets. That is why it through Swartzell, Rheem he invests and Hen- sey Company in First Mortgages, be cause he knows that it is safe and will be taken care of with all diligence by a house whose record of fifty-eight years insures its security. When you put something by rainy day, be sure it is in a for your weather- proof security. Let us show you how. Swartzell. Rheem & Hensey Ca C "tir{:l.qj«‘ Blll.’kfl'.\‘ 727~15th. Street, N\, Washington