Evening Star Newspaper, February 25, 1928, Page 14

14 ® FI NANCIAL.” THE EVENING STAR., WASHINGTON, s D. C. SATURDAY, TFTEBRUARY 1928, Money to Loan Becurec by first deed ol trust on real estate Prevailing wnterest and commission ’glouph 1. Welle: 1st Trust Loans Any Amount D. C. and Montgomery County Large Construction Projects FRED T. NESBIT 1010 Vermont Ave. M. 9392 > conts upon xira di 236,000 ha i In Nearby Virgin 1. Prudential 5 /2% Insurance Co. Commonwealth Investment Co. m3 h St AW Phone Main Loans 430 Wash. L. & Trast Rid: h W HOLIDAY IS CAUSE OF CLEARINGS DROP |Business Now Practically | §ame as Year Ago, Accord- ing to Week’s Reports. BY EDWARD C. STONE. Bank clearings here Tor the week end- ng Febr 3, a holiday week, totaled 1. 000 and were lower than the week, when they amounted to 8.000, and 1.3 per cent below gures for the coresponding week The preceding week also in- Lincoln's birthday, but this holi- VoW observed only among the ker offices in the local financial dis- while the banks and all business were closed on Washington's The clearings indicate that been little change in local | |business conditions during February. Ace ing to Bradstrect’s Review, WE FINANCE —all classes of e-vroducing rop Large Loans a Specialty ana commision Higbie & klchurdson. Inc. S16 15th St N.W. Mortgage Money Loaned At Low Interest Rates , Tyler & Rutherford Renefit Lite ne Co Main 1 ot clearings over the country as a whole howed line. Baltimore's bank arings fell off to $92.884,000 from .124.000 the previous week; Rich- mond clearings dropped to $36.123,000 from $42 00 and were 17 per cent below the same week a year ago, and Norfolk also was among ‘the cities re- a slump from the previous as being below last year. Local Credit Conditions Steady, | ‘ments of the Federal Re- | nks for the present week show | t there was a decline in direct bor- in the form of rediscounts at| drop- g 10 $461.044.000 from '$481,090.000 Yet the volume First Mortgage Loans Lowest Rates of T and Commise terest Thomas J. Fisher & Company, Inc. R First Mortgage and Construction Loan Ayplications Invited at Glover & Flather 1508 H St. N.W. Main 1753 return showed that the | Reserve banks reversed their move of | the previous week, selling Government | securities instead of adding to their holdings. Government bonds in _the hands of the banks stood at $401.512,- 000 February 21, against $408.443.000 ol 15 and $305.208.000 a year i far as the local fifth district was concerned there was only a slight | change in the volume of Reserve Bank feredit in use compared with the pre- | vious week, total bills and securities |standing at $55.479.000, against $35.- | {111.000. The Richmond bank's ratio s'ood at 64.42 per cent, approximately | the same as a week ago. { Local Bank Auditors Organize. Washimton has a new organization known as the District of Columbia Con- ference of Bank Auditors and Con- trollers. The officers are: J. D. Faber, auditor American Security & Trust Co., i president: Raymond D. Marx, auditor | Riggs National. vice president. and R. | Endicott, Washington Loan & Trust, |secretary and treasurer. Other charter | members include Arthur J. Linn, con- Federal-American; William M. |E auditos Lincoln National: Aud- ley A P. Sevage, auditor, National Sav- ings & Trust, and several expert ac- ! countants connected with local banks. | The orgamization, which has the ap- | | proval of the District Bankers' Asso- | | clation, comes under the clearing house section of t American Bankers' As- WRIGHT, SLADE & CO. Members New York Stock Exchange New York Cotton Exchange Chicago Board of Trade Stocks and Bonds Bought and Sold for Cash or CARRIED ON MARGIN THE MAYFLOWEK HOTEL Connecticut Avenve at De Sales St. Telephone Main 1581 Resident Partoer sociation. There are now 31 such or- |ganizations in the country. The new | organization 1s especially interested in the progress made toward more com- ipletely standardizing banking forms. | This is a subject which has been given attention by a special committee of !local bankers, headed by E. J. McQuade, {many of the standard forms suggested having been widely adopted by the banks in this city. Penn Mutual Makes Good Report. | The Penn Mutual’s eightieth annual report has just appeared. Receipts for the year were $81,199.812. The amount 'pald to policy holders was $38,178,245, death claims alone §15,542.9%0. | Listed among the company's assets are U. 8. Government and other bonds valued at $106,705,693; stocks at mar- | ket value, $101,000; mortgages, rents |and first liens, $178.127,405: loans on \\\\\\\\T\i{\:‘\_\\\{\"zpohcles, over $60,000.000. Total assets Desirable ¢ Office Spac For Rent Commercial Natio Bank Building See Superintendent o E S R ? Z % 3 Z 4 ? kA s v % % 3 Z Z a a- LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our 1 Percy H. Russell Co. 926 15th St. N.W. MONEY TO LOAN Beeured by First Mortzaze on Estate in D C__f WM. T. BALLARD Money Available for FIRST DEED OF TRUST LOANS U4 1 Reasonable Commission Prompt Replies to Applications JAMES F. SHEA | 643 Louisiana Ave. N.W. imuvroved Bea) | 6%l 0% % 1927, were $367.- N {on December 31, 994,584, Among the company’s liabilities are | Teserves to mature policy contracts amounting to $304,095,410; dividends left with the company to accummulate interest, $14,149,141, and dividends to policyholders for 1928, $14,200,000. The company increased the outstanding in- surance $106,296,205 during the year. Heard in Financial District. The cleaning of the Union Trust | Building has brought to light one of | the handsomest bank structures in the lcity. The stately columns and digni- |fied facade, together with the nearly | completed addition, unite to make a ASEARAAAARNARNNANNNNNNNNS | MOt imposing bullding from an archi- | tectural viewpoint. | "Work on the new steel vault being |installed in the large addition to the | Security Savings & Commercial Bank, at Ninth and G streets, is nearly fin- | ished. The drawings showing the future | arrangements indicate some most at- | tractive banking rooms. | “The Growth and Development of {the Pennsylvania Railroad Company,” i compiled by H. W. Schotter, assistant | treasurer of the company, has attracted | ition in the financial district. The | volume is a combination of manual and i history. Other Financial Notes. na Insurance offices are be- today from the Woodward Jding o the Investment Bullding, il D. Sleeper, general agent of the fe insurance division, announces. The ager of the local casualty branch A. J. Voorhee A reglonal sales of the casualty department w41l be held here on March 9. The Chesapeake & Ohlo reports sur- plus of $1572616 for January, after ayainst $2,065,665 in January r. Norfolk Southern earned $4.63 on 160,000 shares of stock, as £5.08 per share on a like amount ck in 1926, Opposition W the Norbeck bill to permit Blates to tax National Bank on the same basis that they do te bank shares was volced yester- 7 before the Benate banking eommit- by bankers from widely separated parts of the country { Mary J. Winfree of the Cont- al Trust Co, and Mrs. Helena D, of the Lineoln National, have ) New York w attend the nsti- i 1 6t the Astor this evening e APPLICATIONS INVITED for Cirst Mortgage Loans OnImproved Resl Estate ~Aor three or five yesr tenms at prevailing interest rutes, Lincoln National Bank Washington, D. C. delegation now in- ntatives. ] STEEL PRICES BOOSTED. Bethlehem Follows Action of Care negie and Iinofs Firms, NEW YORK, Vebruary 25 (F) Corporation hus fol it Jewd of Carnegle Bie steel in wdvancing prices of heavy sweel products 81 a ton, und sunounced pew quotations on plates, nd bars. ‘Pl larger independent in the Middle West also had price chianges of the Lwo sub- ). 8. Bleel Corporation Bethlehem's new quotstons wre Plates, 4208 o 100 pounds, foh Coutesvitle and Bparrows Point, and 42 1oh Lackawnnna | Bhares, 205 per 100 pounds, fob, Bethleien and §2 fob. Lackawsnne, Bare, 82 tobh. Lackawanna. hington or more Tep BULLISH ON UTILITIES, } NEW YORK, February 25 (A —Lhere 15 every prospect that 1928 will be o |,;Wx sr geoerally for public utility i) les, tatd Phillp Gossler, head of dumibise Gas & Elecyic Co, on his departuie 10r Cubis, " NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Oven. High. Low Close. 964 96% 961 964 1n 11 111 260 39 Low 62 Low Close 37 « | Shubert The (5) Simmons (2).. Simms Pete. Sinclair Ol Skelly Ol (2). .. Snider Packg Co So Por Rie S(f2) South Calif Ed.. Hizh Close 62 [; m&Straus. Gimbel Bros. ... Gimbl Br pf(7). Glidden Co..... Glidden pr pf(7) Gold Dust (3).. Goodrich Ru (4) Goodyear Tire. . Goodyr 1st pf(7) Gothm Hos 312, Gothm new 12%. Gotham H pt () Abrah Abrg: 59% D Adv Rumley pf.. Ahumada Lead.. Ajax Rubber.... Alaska Junea. .. Albany Papr(2) AlllanceRity (13) 4% 74% Allled Chem (8) 185 1191 Allts Chalm (8). 119% 120 Amerada (2).. U Am Agricul Chm Am Agri Ch pf. . Gt Nor bf efs(5) Am Br Sh(J1.60) GrtNor O (1%). ! am Brown Bov. 16 ; i | Grt Wni'Sug 2.80 5 10% 0 ) 10% B 28 Std ComTobacco S G & 15 (3%). Std Mill (5). 1 Ay (8). 1045 Am C& F ot (7) 133 Am Chicle (3). . Am Encau (2.40) Am Express (6) Am & For Pow., Am Hide & Lea. Am Hide & L pf. Am Ho P (240). Am lce (1214). . Am Internati(2) Am Linseed, Am Linseed pt 95 Am Locomot(8). 110 Am Mch&Fdy (2) 1581 159t Am Ma pf ex-w. 1 Am Metals (3).. 40 Am Piano....... 20 Am Plano pf(7). 78l Am P& LtI1). 66 Am Radlator (5) 1 Am Ry Exp(6) Am Republic Am Safe Raz(4). Am Smelting(8) Am Sti Fdys (3) Am Stl By pf(7) Am Sugar. Am Sumatra., Am Tel & Tel(9) 1774 | Am Tobacco(8). 160% 1 Am TobaccoB(8) 160t 1611y Am Type Fot8). 118 118 Am Type pfi7). 114 114 Am WW&EIlel) 554 Am Woolen 2 Am Wooien AmWrPa pf ¢ Am Zine... AmZine of..... Anaconda (3)... Archer-Dan (3). ArmourDel pf(7 ArmourofI11(A) Armourof111(B) Armour 111 pf(7) Asso Dry G(24) Atchison (t10).. 186 Atch T&S Ferts. Atchison pf (5). 1 AtlCoast L(110) 1 At Gulf & Wi.. Atl GuIf& W1 pf, Atl Refining «4) Austin-Nichols. Austrian Cr 4.52, 7T1% Auto Sares...... 34 Baldwin Loc (7) 252 Bald Loco pf (7) 118 Balto & O (8)... 111 Balto & O pf (4) 80§ Banz & Ar (3%) T4 Bang & Arpf(7) 112 Bank ofMan(16) 565 Barnsdl Acbliy) Bayuk Clgars, Bavuk 1st bl Beechnut (13). Best & Co (3)... Bethlehem Steel Beth St uf (7).. 120% 120% Bimingdle pf(7) 111 111 Bon AmiCl A(4) 6515 6915 Borden Milk «6). 166 Briges Mfg Co.. 22! Bklyn-Edison (8 2: BrownShoe(2% ) Brunswick B (3) Brunswick Ter. . Bucyrus cv (214) Buff&Susq pf (4 Bush Tern (g2). 60 Bush Ter de (7). 111 ButteCop & 7. .. Butterick Corts Byer&Co...... Calif Packg (4). Cal Petm ctfs. Callahan Zinc. .. Calumet & Ar(6 Calu & Hecla (2) CanDry G Ale(3) Can Pacifio (10) Can Pac £ pd 10. Cent Alloy (2). Certain-Teed (4) [ Chat-Ph BK(16) 600 €00 Ches & Oh1o(10) 190 C & O Corpn (3). Chi & Alton. StdOILNI (+115) Std OINY (1.60) Std Plate Glass. Std Pl Glass pf.. Stewart-War (6) Strom Car (2).. Studebaker (5). Studebak pf (7). Submarine Boat. Sun Ofl (n1) 1erior Ol Sweets of Amer. ‘Texas Corpn (3) ‘Tex Gulf Sul (4) Tex & Pacitic. Tex PC&O(K0C). Tex Land Trst Thomp J R(3.60) Tidewater AsOil . TidWASOHDL(6) I'tiken (16) . ... Tobac Prod A (1 Transcont OIl. .. | Transue & W(1) Udwd-EI F (4).. Un Ban&Paper, Union Carb (6). Un Oil of Cal(2) Union Pac (10). Un Pacific pf(4) UtdCerstiCRie) Utd Cgr St pf6) Utd Dre ist (3% Utd Fruttersig) USCIP&F(10) U S Distributing U S Hoffman (4) S Alconol (5). S Leather wi, e Guif Mo & Nor.. tartmn B(1.20), Hershey pf (4).. Hershy pr pfi6) Hoe & Co A. Household ¢ Houston Ofl.... Howe Sound (4) Hud Man (21%4). Hudson Mot (5) . Hupp Mot(1.40) tltaols Cen (7). Indep 011 (1)... Ingtan Mot (1) Indian Retining. ndian Refg ctfs Ind Ref pf(7)... Inspiration Copr Internat Agri tuterboroRapTr. tuteontl Rub(1) tot Bus Ma (5)., 1 int Cement int Com Eng IntMteh pfe int Nickei (2 1utl Paper(2.40) Int Paper pf (1) Int Ry Cent Am. Inal Silver Intl Silver r int Tel & lel (6) Johns-Maran(3) Jones & Lau (1) Jordan Motor... KCP& L 1st (7). Kan City South. IKan C So pf (4). sayser J (4). Kelly-Sprin . Kelly Tire 6% pt Kennecott C(5). Kinney vt (8) KKraft Ch (11%) Kresge Dept S.. Kroger Groeiel) Lambert Cot5).., 20 7 66 114 114% 594 6 491y 7% 16013 118 114 196 16 ol A6ty [N 144 84 T8y » G0 1% S T8t 43 18614 US Sm pf (315) U S Steel (7)... U S Steel f (7). Uni Leaf Toh(3) Unt Pic Ist pf(8) Uni Plpe & R(2). Uu PELt Acez). Vanadium (14). Vick Chem (4).. Victor Tik Meh. victor o f 1) 1 100 1% Tl N Lia Carb (3.60). 25 Loew's Inc (18). Vivadou (b10).. Vivaudou pf (7) Wabasn Wabash of (A (5 Wabash B (5)... Waldort 1y ) Ward Bakiug B. Warner Pic A... warner-Quir Warkw P.pe Cor Web&Heil pf(7) W enn Kl blis) W Peun Kt pf o7 West DairyA(4) Western Dairy B West Maryiand. West Md 2d of West Pacity West Unlon « | Westnse A B | Westinkhse (4). Westhse Ist (4). Weston Electric | Wheel& L 50t | White Motors(1) White Ruckitig, White SM pfi4). Willys-Uvertand Wilson & Co. ... | Wiison Co pf A Wilson & Co pf. Woolworth «5) Wright Aero (3). Wrigley W 1313 Yallow Truck. | Younkstn She§) o Long-Bell (A).. Loose-Wil(1 60) Lorillard Co..., Loutstana Oll. .. Lou:s & Nash(7) Ludium Steel2) McCrory A (2).. Mack Truck «6) 3 (R H) (e3) Mait Sa Gr (1) Magma Cop (3). My Hison & Co. Man I S ! Man s Marlana Ou Martin Parry. .. Mathieson A1(6) May Dept S14).. Maytag (13).... Miami Cop (1).. Mg Continent. . Middle States. | Midlana vreniz) Miller Rubber Minn & St Louls Mo Kan & Tex.. Mo K&Tex vi(7) § Missour Pacitic | Missourt Pac pf. Montana Pow (5 Montgniry With Motner L (50¢). 60% ~{ Motion Pic Corp. 205% 20 | Motor Met (3.60) 2011 20114 2 Motor Whl (2).. Mullins Mfg. ... Munsingwr (3). Nash Mot (15%) NatAcme (sta). Nut Bellas Hess Nat Biscuit (17) NatCash R(A)3 Natl Datry (3).. Nat Dept Stores Nat Distiliers. .. NutPow&L(S0e) Nat Radiator. ... Nat Rad pt(7)., NatSupply (16). NatSupply pf(7) Nat Surety (10) Nat Tea (4) Nevada Cily NOTex & M(7 1001 100 1 45 5% 5% 601y 1 Chi Great West, Chi Gt West pf. Chi Mil & St P.. Chi MII&SLP pf. CM&SIP gull pd. CM&SEP pf £ pd Chl & Nwn (4) Cht Pne Tool (6) 127 2 Ch! Rock Is (5). 10%% 110} CR1&Popf(6) 100% 100% CRI&DUDL(T).. 10T% 1074 ChileCo (2%).. 3K+ 38% Chrysler Cor (3) 57% 58 City Stores (B). ¥1'3 Bil5 CCC&StL pf(5). 110 Cluett Peab (5). 92% Coca-Cola (5). Collins & Alk(4) Col Fuel & Iron. 70% Col Gas & E) (5) 91l Col GEE pf A(6) 107" 107T% Col Carbon (4).. Com Cred (1)... ComCred 15t 6% Com Inv Tr 3.60. Com Solents(8). Com Pow (2%). 65 Conzoleum-Nalr 25% Consol Gas (6).. 131% 111 ConsolGan pf(6) 101% 101 ConRRCubapf8 72 72 Consol Textl] B Cont Bakg A (4) Cont Baking B.. Cont Bak pf (8). Cont Can (6) Cont Insur (6).. Cont Mont (80c) Corn Prod (13) Coty Ino (g5) CruciblesSte Cuba Cane Sugar Cuba Cane Su pf Cuba Company. . Cuba R Rt (4.50). Cuban Am 8 (1). Cudahy Pkg (4). Curtlss Aero (1) Cuyamel Frult,. 03% Davison Chem.. 36 Deere&Co pf(7). 117% 117 Del & Hud (9)., 167% 164 Del L& W (17), DRG WAt pt... bit% “ Devos & 1(2.40) L1'% 61% Devoe&It 18L(7) 112 112% Diamond M (19). 163 164 Dodize Bros CLA 1% 1KY Dodge vf (1) an Qn Dul BS & Atlpf, 6% Dunhiil int (4).. 61% DuPont deN(10) 32i% Fantman (18)... 166 aton Axle (2)., 24 senlohr & Bro. ec Auto L(6), . Isleatrio Boat. Kleo Powr & Lt. oo P&LR pf (1) Filoo Itefrigeratn n-Brantgm(A) nd-fohn (6). .. Kngineers 'ub § e ouarteciy in stock n preferred stock ock WHEAT GOES HIGHER ON WEATHER NEWS 59'y 2 4 | 127 108% 10074 Absence of Snow Covering in Some Sections Leads to Fear of Fur- ther Crop Damage. NY Ont& Wn. .. NY Steam pf (6) NY Stm pt A (7) Niag K pd1%), Norfolk South. . Norfolk&W (110) NOFAm b1V % stk | North Pac (5) Nor Pac cfs(b OppmCollins(£4) | Ous Elevatr(i7) | Qus Steel...... Otis SU prior(7). Owens B pt(7)., 59 21 B9y K9 564 66Y% 161% 16 By the A ed Pross. CHICAGO, February 25 —With cold- er weather prevalent over domestic Winter wheat territory wheat prices averaged higher early today. Absence of snow covering in varfpus sections led to fears In some quarters that further crop damage to wheat would ensue. Opening at ¥, decline to “4a'; ade- vance, wheat subsequently scored addi- tional gains in some cases. Corn, oats and provisions also developed firmness, corn starting unchanged to ', up and later continuing to point higher. PROFIT $14,038,425. NEW YORK, February 25 (#)--Net operating profit of Financial and In- dustrinl ~ Securities Corporation, of which Ralph Jones is chairman, for the year ended January 31, was $14,038.425 exclusive of market appreciation. The ation i market value of se- exclusive of that on securities sold, amounted to $20,073; which, 2, T from the previous year, made aggregate excess in market value of $33,115.751 over book 4% cific Gas (2), ., € Gas & Ei rts L'ag Tel & Tel (1 Packard Mot(3) Pan-Amwm Fetrolin ran-Am Pet (1) Panhandie. Parmt-Fam (| Vark ah (8uc) Pathe Exchange Pathe ExA..... Patine M (az.19) Peerless Motor,. Peuick & Ford. . Penlck&l pe(7). Penn Dix Cmt(2) I'a DIx Ctpf (7). Penn IR R (3%). I'eoples Gas (). Pere Mara (18). PhllaCob%pt(3) Phila& RCH.... Philip Morris. .. Phillipa et 17 Phoenix pf (7)., Flerce-Arrow, .. 161 | Pigco-Arrow pt 1514 | Pleroe O11 697 | Pitts Cor s | its Coal pf. PILS&W Va(8), Porto Itico ‘Tob, o Porto Rico To 1h. ostum (6) 1'rod & Itenine P ub Serv NJ(2). ey Pl 8 NI DECT) Cub SE&G pES) Pulh Co 4). Punta Aleg Sug. Pure Oil (bue). Purity Haka( Purity Mak B (2 1tadio Corp of A. Heading Ity (4). leuding 2d (2).. Ger GE Red Loan with draw Real Stk pf (4. : GG S bl Hemingtn: ita 2 el ECLHG AT N o Heo Mot (11 2 1op Ir & BU (4). Iaynolds Hpnisn. Heyulds'Ta Iiahfield O1 Hels, 1oht & Hets lobt pt Koyal 1) a3 18 o | Strssan . HtL& hwest, Py I 5618 1340 (37 AGREEMENT DENIED. NEW YORK, February 25 () - Re- ports that a preliminary agreement had been made between Robert E. M. Cowle, president of American Rallway Express, and Albert Pelsman, managing director of Royal Dutch Air Lines, for an inter- natfonal express service, were dented by offighuls of American Rallway Express. This company 1s planning to extend its alr service in this country, it is sald, and has not contemplated plans for a trunsoceanle service 166 207y 6% Ay a0 20ty [N (10N [ 00 [ [EIDN [ GERMAN BONDS AND STOCKS. By Special feased Wite to The Star, NEW YORK, February 25 N Asked 0200 o an o0 e marks ) D00 00 b0 101% 1% o an e munn (), Vox Film A (4), Fox Film (r1s), Vreeport (1% ).. Gabrielinh(34) .. Tok4), it oo W 1 a0 Raai & b & ds Tine aan Loy 4 1 PN gedd Tn | ann 0 AN ¥ Tan AR 1 Wewar 1w Y RRSY \ioflais wer abvare ) o ¥ )t i ¢ i i oA M ity s mo wa R 6% K 0o Lo Ry LN 00 AN L oo \ 3 iite (3% ) Hehulte pf (8)., Heubd Alr Line, Heuh Alr L ot Hears- It (nd ), HBuneca Copper. . Hhattuck ¥ G (2) Bhell Un (140)s Gen Clesrs (4),, (ien Kileo (16). . Genlilea np(60c) Gen GasA(ol ) Gen Motors (b), Gan Ry Blg (6), 106% 10676 1061 106y, Gen Hefruo (8), ol h'.‘" i N Glllatte Jina (b)) Juzie 1047 102 102 o 1271 How i it 1214 o 1y Hou Pty iy 15 i Cieth Nt B iy I i wr iy i [0 RAILS SHOW GAINS ON STOCK NARKET Industrials Are Wabash Is Leader of the Carrier Group. BY GEORGE T. HUGHI Special Dispatel to The Star NEW YORK, Fcbruary 25.—Strength in the railway shares and irregularity " |in the industrials characterized trading in stocks at the close of the week. Buy- ing of the rails was animated, and prac- tically all the active issues The leader, as on Friday, was Wabash. Under a large turnover the stock moved rapidly ahead until at 66 it was up over six points. One suggestion was that a minority interest was acquiring stock to strengthen its position. The action of the Interstate Commerce Commission in requiring the Kansas City Southern to show cause why it should not divest itself of its holdings of Missouri, Kansa & Texas and St. Louis Southwestern was without effect on the market Kansas_City Southern was not muc changed and the other two stocks were higher. Pennsylvania was the feature in the seasoned dividend paying group. Its advance was not large. but was enough to put it to a new high for 1928. Balti- more & Ohia, Chesapeake & Ohio, Canadian Pacific, New York Central and Union Pacific were all up more . The Rock Island improved in to predictions of a dividend increase at_the next meeting, and St. Louis-San_Francisco went along mod- erately. Western Maryland and Er were in demand among the lower pri shares. In the industrial group there were two or three weak spots. Mack Trucks was heavily sold. dipping to a new low for the year, below 96. Wright and | Curtiss Airplane stocks were down, the former at one time over 5 points. Steel continued heavy, with stock apparently in large supply whenever says no change from the decided un-| General | ovenness of commercial conditions was | the quotation crossed 140 Motors was fractionally higher. Short covering helped International Nickel, but many other specialtics continued to sag. The utilities were in good demand. North American and Standard Gas and Electric were conspicious in buying and Peoples Gas of Chicago gained on a small turnover. POTATO MARKET. CHICAGO, February 25 (United States Department of Agriculture).— Potatces—Receipts. 108 cars: on track, 192 cats: total United States shipment 738 cars; too few sales to quote on ac- count of weather. SILVER QUOTATIONS. EW_YORK. February 25 (#) —Bar silver, 5713 Mexican dollars, 433, DIVIDENDS. Rate Q ro 10 % Otto) e Elec b PLAMP & PULEL T " 10 5 Yale & Towne A M OSTU0 QAL “Pav b in cash and 10 i Irregular. ored gains. | FINANCIAL. [ AN ACTIVE STOCK curn £0r € A BERG " prvysmarer. O W Avig ber Covmseiiom. | LINES INDICATE —} MONTHLY MIGH AND LOW ] | 60| PRICE OF 0L $TOCK l_ PLIT-UP AND STIC 4 O1V. EQUIVALENT [com sTx 2,473,998 su. PFD.STK. 412,333 5n. MO BONDS PER SHARE ANALYSIS. What Js Back of Fach Stare. Contingent fund and e Net_ assets for common was reported Dec rnings would be I i iConsult your | ther information stork.) Seraphook this for future reference | DUN’S REVIEW SHOWS “Decided Unevenness” of Commer- cial Conditions Reported—Some | Gains Are Evident. By the Associated Prese | NEW YORK, February 25—Dun’s | either expected or witnessed during the | presen short week. Reports from indi- vidual trades still reveal sharply vary- |ing features. | branches contrasting with hesitation in | other quarters. and frregularities in commodity prices continuing marked. The holiday naturally reduced the volume of transactions. but the forward | i trend in some of the principal lines, | which has been the most encouraging phase this year, was maintained and in | | certain cases moderately extended Recent gains in the steel indust: refiecting the enlarging needs of aul mobile makers and some other manu- facturing interests, have been fully held. while some divisions of textiles have experienced a distinct upturn. Such | favorable tendencies as exist, however. | are qualified by the greater emphasis placed upon the labor situation. atten- tion being focused more closely on € dences of unemployment. The comparativel Winter in different sections has lessened reacting adversely upon factory opera- tions in numerous instances and lower- | ing working forces and the public buy- ing_power. W bank clearings. $8.967.702. 000, an increasc of 9.9 per cent over last vear. WOIE'T ASK INCREASE. ! C. & P. Telephone of Baltimore Ex- | pects Better Earnings This Year. { BALTIMORE, February 25.—Though | net earnings fell slightly below | | the 6 per cent fixed by the Federal| '} Court as a “reasonable earning." no in- { | crease in rates will be sought by the|p, its 1927 | Chesapeake & Potomac Telephone Co. | according tc Willlam A. Condit, vi president. The company's earnings last were $2.836.000. a return of 58 cent Mr. Condit said: “That's pretty close | to 6 per cent, and we have no inienticn | of asking for a rate increase. | “Last year wasn't a good business year and we expect to do better thus year.” Expenditure of $4.395.000 in plant im- | provements in Maryland during 1928 was approved at & meeting of the board lof directors of the company vear ver Special Dispatch to The Star. Ver ahare. | "S85 | industry, ! orders on the books are considerab! {TRADE IS IRREGULAR, | RAYON PRODUCERS PLAN EXPANSIONS Unfilled Orders Large at Do- mestic Plants and Best Quarter Is Expected. BY J. C. ROYLE. NEW YORK, February 25.—The rayon yarn producers of the United States today are working at the highest rate of production ever known in U Indications point inevitably to the finest quarter the industry has ever known. The majority of the rayon producers have sold their entire out- put for the next two months and de- mand is still expanding. Unfllled ¥ larger than a year ago. This has re: | sulted in advances in the spot yarn market, with dealers reported to be asking premiums of 2'; to 5 cents a pound on certain grades. Rayon waste also has advanced in price. The trade began 1928 with 10,000,000 pounds less rayon on hand than a year previous. Of course, manufacturers have announced their prices for the | quarter and these will not be changed, but the sellers in the middle markget are in a position to demand premiums This would indicate that prices will be exceptionally firm both for manufa turers and in the spot market throug: out the entire firsi half of 1923. Improvement Is Startling. The improvement in the use of ra: has been almost startling There about 8,000,000 pounds consumed in 1920. By 1924 this consumption had advanced to 38510,000. In 1925 reached 51,098.990 pounds. in 19 | 63.3564000 pounds and in 1927 85.000.0 an_expansion in some ! | it_controls the Viscose Co. of America, | which accounts for about 50 per cent mild and open|de Nemours & Co.. | S — | GOLD FOR ARGENTINA. { NEW YORK. February 25 (#.—Gold | Co. and pounds. Unless there is a striking re- action in the demand for rayon varn | 1928 will see over 90.000.000 pounds of rayon consumed. This was all domesti- cally produced yarns. In additior 16.211.160 pounds of foreign rayon was imported. ~With the imports to com- in this year total consumption wili probably reach 115.000.000 pounds. | The efect of this terrific demand wa- illustrated by the startling advance the shares of Courtaulds. Ltd., which threw the London Stock Exchange into turore this week upon an overnight an- nouncement of a $60.000.000 bonus tor shareholders. This was also reflected in he American markets where the stock listed. Courtaulds. although essentially a British company. obtained its matn benefits from the CUnited States, since of the total United States production of the fiber. This latter company now | is oversold on its March and April out- put. Other Producers Expanding. | Other American producers are ex- panding as fast as plants can be built The du Pont Rayon Co. which is entirely controlled by the E. I. du Pont, Inc.. began produc- | tion in 1921 and now ranks as the sec- 2y Hid of | demands for seasonable goods. thereb¥ | ongd largest domestie producer. with an | output of 15.100.000 pounds in 1827, {In 1928 it will turn out approxima: { 19.000.000 pounds. | The Tubize Artificial Silk Co. is plan- ining in 1928 a production of above 8.000.000 pounds. The Celanez Corporation of America does not make viscose fiber, but confnes itself to the production of cellulose acetate. | The Industrial Raron Corporation is also expanding its output and plans a uge factory some place in the South which will mean the doubling of capacity. —_— BYRAM OPTIMISTIC. NEW YORK. r 35 WP—-H E ¥ram, president of the Chicago, Mil- waukee. St. Paul & Pacific, sees ln’:nl- | couraging outlook for the reor road. He said on his departure for Europe that the agricultural situation in the Northwest was the for some | time, with the probability t the St Paul would do a satisfactory year's business. | shipments to Buenos Aires today in- cluded $4.000.000 by Louis Dreyfus & 000 he American EX- South Sea Jeathers I South Seas the patives shells with a sticky sap. the Santa Cruz Islands eof the fill mussel Then they imitate the call of a tiny jungle bird of brilliant red headdress. The bird gets its feet caught in the sticky sap and the men press the feathers into plinth- is shaped bricks. And thi rency. their cur- The American investor is not satisfied with currency or investments with no more behind them than the feathers of a bird. Mortgage Notes through And so they purchase First Swartzell, Rheem and Henser Company, because there is real security behind them and also because the house which issues them has a record of no loss to an - vestor in over fifty eight years. * If vou want your money safely. without care or worry st 6%, you should inquire about them. Swartzell. Rheem &Hensey Ca NMortsage Banke 27-15th. Street, NW, Washington 58 YEARS WITHOUT LOSS TO AN INVESTOR, !