Evening Star Newspaper, March 5, 1928, Page 10

FINANCIAL. TIIE EVENING STAR. WASHINGTON, D. C. MONDAY, MARCH 5, 1928 FINANCIAE. * | WASHINGTON AREA BUSINESS LIGTER [Fifth Reserve Bank Holds Optimistic View of the Future, However, BUY I‘ROTI(‘TIOV At E ROY GOFF M Uts Branches Ridz. Mortgages Investments JAMES Y. PENNEBAKER BY EDWARD C. STONE. Member Washington Real Estate Board | | In its monthly review of business and Main 5328 1520 K St. N.W. | agriculture conditions in the fifth dis- trict the Federal Reserve Bank of Rich- mond today sa that business in this district in January was smaller in vol- ume than in January a year ago. I}t‘bfl_s |ol mdx\‘lglmi account rficl\lr(‘sb in clearing house banks, one. of the best Bk Domapany [ oacee bows beuss oo of e best BROKERS ling the same periods a year ago, the Established 1916 report says. Business failures in the fifth district were more numerous than Stocks Bonds lin January last year, but the liabilitics Gram Cotton | were lower. The employment situation Yor sceckiy mmarkal | continued unsatisfactory, with many workers in industry and the building trades unable to find employment. Coal production was relatively low in Janu- ary, although somewhat better in the fifth district than in other bituminous fields. Textile mills, the report adds, have |about caught up with forward orders | placed last Fall and were forced to cur- e mummmmel | 10{] operations to some extent in Jan- : M L ‘L!I'lr\ mdm(‘\em accumulation u%m"\ml- actured goods. Cotton prices declined First Mortgage Loans it e {middle of Jan | February. Retail trade, by department store sales, was moder- ately below sales in January a year ago, and wholesale trade in most lines for which comparative fizures are avail able was also in smaller amount thi year. 54 No odvgarions BUCK AND COMPANY Evans Blds. 1420 New Franklin 3 Lowest Rato mmission Thomas J. Fisher & Company, Inc. LIFE £5,000 INSURANCE l‘r(lllrr(h‘?nr lrnh-‘—\r ‘”l ot for & Lo Cont T CLE ROY GOF Inenrancs in All lis Branches 610 Woodward Blde. Main 3310 Encouraging Signs Noted. On the other hand, the Review 50 a bale between the | ary and the middle of | as_indicated | Open ADitibl Powr(5) 76 AbrahmasStraus, 104% AbraStras i%pt 111 Adv Rumley... 13 Adv Rumley pf. Ahumada Lead. Alr Reductn (5) Ajax Rubber. Alaska Junea Albany Papr(2) Albny Pap pf(7) 1 Allied Chem (6) 151 Allls Chalm (). 119 Amal Leather pt 70, Amerada (2)... Am Agricul Chm Am Agrt Ch pf.. Am Bosch.. Am Br Sh(Jj1. !0) Am Brown Bov. Am Brown Bo pf Am Can (2)..... AmCar&Fdy (6). Am Chicle (3).. Am Drug (80c). Am Encau (2.40) 657 Am Express (6). 184 Am & For Pow.. 23 Am&Fo Po pf(7) 108 AmFPow2dpf(7) X2 Am Hide & Lea. Am Hide & L pf. Am Ho P (240). Am lce (12%).. +Am Internatl(2) Am LaFr&Foam Am Linseed Am Linseed pf. Am Locomot(8). 111'% Am Metals (3)., 40% Am P& Lte§1). 7 Am Radiaror «6) 1 Am Rad pf (7).. 1 Am Revublie. . 61 Am Saf Raztdlg 60% Am Seating (3). 40 Am Ship & Com. 4% Am Smeltung(§) Am Snuft (12).. 1801 8y | Am Stl Kdys (3) Am Stl Fv pf(7) Am Suga | Am Sugar pf(7) Am Sumatra. ... Am Tel & Ca (5) states, there are signs that seem to offer encouragement to_expectations of | early improvement in business. Bank loans to customers at the middle n{‘ February were below those of last year, indicating some liquidation of ~last {vear's indebtedness. Aggregate depos- |its are considerably higher now than/ (at the same time in 1927. Building { permits issued in January were of the { highest valuation of any month since | March, 1926. Numerous other large | | projects are planned for early con- | struction which should afford relief to and Sold for Cash or CARRIED ON MARGIN | the unemployed and be favorably re- 'fle(‘t(‘d in wholesale and retail tr: THE MAYFLOWER HOTEL || During the month between January | . 5 11 and February 15, both this -year, ot e D ey || total ‘loans and discounts to customers | Telephone Main 37 |of the reporting banks declined $11.- Resident Partner WRIGHT, SLADE & CO. Members New York Stock Exchange New York Cotton Exchange Chicago Board of Trade Stocks and Bonds Bought {782,000 and the banks reduced their | investments in bonds and securities by —1/$404,000. Demand deposits also de-| creased during the month, falling $10.- 71 622.000. The aggregate reserve bal- || ances of the reporting banks at the | Federal Reserve Bank dropped $1, 784, | | 000 and cash in vaults declined $1.968.- 000. Time deposits increased $2,142,000 | between January 11 and February 15 | tand borrowing by the 66 reparung, Lib B d lga‘r;ks at the Reserve bank rose §1,372,- | | | erty on s | The volume of credit extended by the | | reporting member banks to their cus- | tomers in the form of leanz and dis- counts on February 15 1928, was | $2,307.00 les sthan the volume of lsans | and discounts outstanding on Febru- | ary 16, 1927, but total investments in | bonds and securities owned by the re- | porting banks were $35,672,000 higher {on the 1928 date than 1 year earlier | Aggregate reserve balances at the re- | serve bank were $1,023.000 below tliose {of a year ago, and cash in vaults de- |1 clined during the year by $1,009,000. Bond Department ||| Demand deposits decreased $7.442.000, | Hm( time deposits gained $32,743,000 The Washington Loan and |f| 200, Bme Comosie Baine & e by the reporting banks at the reserve | Trust Company !bank rose by $2,390,000. the report | 900 F Street 620 17th Street We Buy and Sell Treasury Notes Etc. Auditors Plan First Meting. ‘The recently organized District of | ||| Golumbia Conference of Auditers and | Controllers will hold its first meeting | fhis whek, the switering 1o take the | form of a luncheon Thursaay. J. D.| | Faber of the American Security & Trust | | Co., will preside. The other officers | | are Raymond G. Marx of the Riggs] | National Bank, vice president; and R. Endtcou of the Washington Loan & | Trust Co., secretary-treasurer. | "1t is expected that A. R. Burbett of | Baltimore, regional representative in | the fifth "federal reserve district, will | be present and assist in outlining future | plans. Further adoption of the most { up-to-date standard banking forms is {one of the chief aims of the organi- zation which has the hearty support of the District Bankers' Association. President Greets Credit Men. Members of the Washington Associa- tion of Credit Men were much pleased LOANS ON HOMES Prompt atten- 1 tien to appli- cations. /2 ;0 Run for five vears with- Interest out curtail- ment. Wm. H. Saunders Co., Inc. Founded 1837 Main 1616 1433 K Loan Correspondent for the Provident Mutual Life Insurance Company of Philadelphia President Coolidge. They were present- ed by Representative Sol Bloom of New York. In addition to the national ex- ecutive manager of the association Stephen 1. Miller, those in attendance included: E. Paul Phillips, Lister T. Watts, W. FP. 8impson, John A. Rellly, Willlam | G. Buchanan, Eugene Ruark, W. R. | Little, L. M. Hewlett, John N. Auth, Charles W. Claywn, R. J. Chaney, F. W. White, W. C. Hanson, Waldo J. | Tastet, R. M. Harper, John E. | F. H. Meyer and A. W. National Metropolitan - Bank Surplus & Undivided Over $2,000,000 15th St., Opposite U. S. Treasury You'll Find Both Profit and Prestige | day that the annual banquet was th ! most successtul yet held. The loc assoctation is steadily growing in num- | ber and also increasing its usetuln Railway Common Sells at 475 Washington Rallway & Electric mm- mon appeared on the local board tod for the first thme In many weeks, three shares selling at 476, | sold at 103 "Ord Capital Profits, ctric 5% per cent pre- | Sanitary Gro- cery preferred at 1071, and 108, while 14 shares of Capital Traction sold at 111 Fifty shares of National Mortgage & | Investment preferred sold at Washington Gas A bonds changed hands at 1057 and t out st 1067 in very light trading Equitable Life Reports Gains, The sixty-elghth annual statement of | the Equitable Life Assurance Sociely lishied Loday shows i er made In a r by the comp: Dur- ing the year the outstanding surance pssswd the fve and a half billlon mark and now v 8 The new insuranee p y gated $941412 538, 1:,.mmuv 414,42 ) 897 of itis ! group surance. kan e Other Financial Notes, broaa- " " declared dividend of thiate L per cent cu preferred stock and 8350 U per cent preferred stock March 15 o stock s tve hare on s Muryland Bankers' sane it hold Vs sunuel con tian HA]" at the new Vanderbit-Chamber- lin Hovel wt Ol Polit Comfort on Miy | 16 and 17 Februsry sales of the Me were 42867320, agalnst February lnst year, n galn of cent ales of the B 8 Kre 20 fur the Brst two moths of the present wre 105 per cent ahead of he period @ year seo W e v Co, #s fisca agents for Deartment of Caiicn Valiey Colombin, 20-year 1, per cent seenred ity fund gold bonds, snnounce hat 849060 bonds have heen drawn by ot for redemption on April 1wt 103 wnd unpiid dnterest . Jeelond Lias & womieh 3 per s member of with their visit to the White House | Saturday, when they were received by | The preferred | - Am Tel & Tel(¥) | Am Tobacco(8). Am TobaccoB(8) 16 Am Type pf(7). | Am WW&EI(c1) Am Woolen..... Am Woolen pf.. | Am Zine.. Am Zine pf..... Anaconda (3)... Archer-Dan (3). Armourof111(A) Armouroflll(B) Armour 11l pf(7) Arnold Con & Co Asso Dry G(2%) Asso Ol (2).... Atchison (110).. 18: Atch T&S Ferts. | Atchison pt (5). AtlCoast L(110) Atl Refining (4) 102% AtlasPowder(4) 66ty Atlas Pow pf (6) 108% Atlas Tack..... 11% 34 104 170 | Auto Saies. . AutoSales pf(3) ; | Autostrap 4 (3). 46 Balto & O (6)... 111'§ Bank of Am (12) 602 Barnsdl A(b2%) Bayuk Cigar: Beechnut (13) Belding Bros (2) Belg Rys pf 4.12. 865, Best & Co (3)... 5H3h Bethlehem Steel 58 Beth St pf (7).. 119% BloomIngdall Blumenthal pf Bon Ami Cl A4) Booth Fisheries. Booth Fish 1st.. 43 Borden Milk «6). 166 Botany C MillsA Briges Mfg Co.. British Empire. British Emp 2d. Bklyn-Edison (8 225 Bklyn-Man (4).. 597 Bklyn-Man pf(6 xy T3 19'; | Bklyn Un Gas(5: 152 BrownShoe(zl) 48 Brunswick B (3) 29% Brunswick Ter.. 17 Bucyruscv (zl%) i Burns Bros (B). 1 Burroughs(14).. 156% Bush Tern (g2). 61 Bush Ter de (7). 111% Bush Trm pf (1) 115% ButteCop &Z... 6 Butte&Super(2) 10% Butterick Co. Butterick Co rts Byer & Co Callt Packe (4). Callanan Zine. . . Calumet & Ar(6, Calu & Hecla (2) Canbry G Ale(3) Gin Can Pacifio (10). 205 CaseThreshi(6) 259 Case Thr pf(7). 126% Cent Alloy (2).. Century Rib Cero de I'ascoid) Certain Teed (4) Chand-Cleve. ... Chandler Mot pf. Chat-#h BK16) Ches & On1o(10) 190 C&OCorpn (3). id'n Cht & East 1 p! 64 eat West. 11 West u' 615 I [ Chi & Nwn pf hi ock Ls b). 1091y CRI1&PL6) 101 CRI&pUIT).. | Chi Yel Cabi3), {Childs (2.40) . | ChileCo 214).. Chiyster Cor (3) Chrysier pfA(%) City Storen (B), 6% 15 Col Kuel & lron. 69'% 0l & Southn (3) 106 010 Bou I8t (4) T8 Col Sou 2d pf (4) 73 Col Gum & 151 (6) 1%k 01 G&IS pt A(6) 107 ‘0l Carbon (4).. pl Com Inv Tr 3.60. Com Solentn(s) Com Pow (2% ) Congoleun-Nair 16mty Wity Cong Clyarstd% 7% on Clgaiscl ), . B# anmol Distribut 1 onsol Gas (h).. 135% isolGun pf(6) | 4 ILICubs bt 6 | “unt Mout (Kic) nirod 018), oty Ine (gb) ... | Hateniicel (6 ne Bugar 6 0] Cubi Cane Bu pf It | | Cushinn's (§4) | Cushmunn pf (8) 11h er | Cuyamel Brult.. b3 Duvison ) e el & Hud (9) ., el 1L& W (1T), DItG Waet Detroit 1a . Tevos & 112 40) Javoek It imt(T) 114 Hamoud B OV9) 10 Dot birow CL A IR [ Dodke ut 11y, it fuare Mines (1), 11 HH & AN 4 Lunhititint (e) Gty Dulont deN(10) 8540 Fantman (18), ., 164% Katon Asle )., dinonlols & dio, Received by Private Wire Direct to The Star Office. Migh, Low Clomn. 76U Thle Th4 1047% 1047% 10474 111 lll l:l o1 3 Open High Low. Close. 160 Auto L(6).. 120% 1237 120% 123 ectric Boat... 13% 13% Eleo Powr & Lt. 344 344 KEleo Refrigeratn 137 3 Elec Stor Bat(6) 7313 End-John (6) ingineers Pub 8 Engnrs PS pf(7) Equit Blag (7).. Erife R R, Erle 1st pf. Op Nor Paccfs(6).. vily 01l Well Sup. Omnibus OppmCol ) Ous Elevatr(17) 15 Ouis Steel.... 1 Otls St prior(7). Outlet Co (4)eee Owens Lot (c14) Pacific Gas (). Gas & 1 rts 3 B i 180% 1805 180% 1 10 10% B ikl 6 26 26 109% 109% 109% 152% 150% 1 Erle Stm S (214) 120 119 120 |Eureka V (t16). 70 | Exchange (1%). ;’:;‘ *ar Lo & Tr(16) Gin, | ed Ligt(h1.40), ,:m' Fed L&T pf (6). 290 | Fed Min pt (7).. Ied MotT(f80c). FId Phoe Ins(5). Fifth Ave (64c). wirst NatS(1% ) Pathe tixchay Fisk Rubber. ... Pathe Ex A Flelschmann(3). 6 6 Patino (ay. . Foundation Co.. 2 Pecriess Motor ., Fox Film A (4). Leinick & Foid. . Freeport (+%).. Penn LIx Cmti2) Peuu K K (3%). 8 .| Gabriel Snub A. rere Marq (18). '4 | Gardner Motor. . Lere Marq pt(b) 5 Gen Am Tnk(4). LhilaCos % pied) > | Gen Asphalt.... rhita & K CA. : “ | Gen Asph pf (5). Philip Morris, 'l 'e | General Cable Phillips Pet 1 Gen Cable A(4) Phoenix Hoslety 54 Gen Cigars (4) Peoples Gus (8). 167 Gen Eleo (15) e 4 Pierce-Arrow. .o 13l GenElec sp(60c Pierce-Arrow pf 49 Gen GasA(o1%) rierco Utl.aea.a. Gen Gas Ble1%) vierce Petroim. Gen Gas pf B(7) Pilisbury (1.60). Gen Motors (5). P18 Coal..s Gen Mot pf (7).. PILLS& W Va(b). Gen Outdr Ad(2) roito Kico To . Gen Outdr Ad(4) PUSLUI (8) . euus Gen Ry Sig (5).. Pressed St Car. Gen Refrac (3). Prsucar pr (7 Gllette Raz (5). s g e Gimbel Bros. . . vrophyBrusing) » Gimbl Br f(1). i v 3 il luubelvl\-ll‘] ll Glide Lub S N pd).l 1z ::zl‘d,:')::'l;:il...) :‘nllumn Cod). =1 Goodrich pf (7). Uity BakA gg;g;:;rfll:‘r‘.‘.’.) :’unky Bak B (2, Liv 163 Gothm Hos $2%. Sy S L 1124 Gothm new 12%. fEOLCCoNy oL & 54 Gould Coupler A HsscingiBy o) 237 23% | Graham-Palge. . fioadiag Luti(2)- BEW 5 Granby Con Min Ruading 24 (2), . 16 Grt North pf (5) PLLEUL L 5 | GUNORDECTR(E) Keunugiu-land, 2i. o Gret Nor O (1%), item-1td 18L(7).. 6 Gt Watug 240 Remgton zd etf. 101 L Keo MOt A TL2U). wdin Gulf States Stee e b eyuvlds Spngs., v Hfifi‘.fin‘\flzf' KeyuldsTobB(b) 141 Tartinn BeLI0H, eis, Robt & Co Lichtiend Vil (1) . Hershey Corp. .. Lossia Ins (6). . Hershey pf (4).. Koyal b as. o . Hershy or pf(6) rNit s Hoe & COA..... StJos Leaa (13) Household (t4). ! b_ll.-k:un b ouTs). Houston Ofl.... 1 St L&Sank pis) Howe Sound (4) St L&Svuthwest, Hud Man (2%). 52 s | Sav A Hudson Mot (5). 6 i Schuite 1é4) Hupp Mot(1.40) Seabd Alr L Seab Air L pt. Iitnots Cen (7). SoaE Indep OI1 (1)... bt S - 1 2 . Indian Refining. b::;:n :"U‘L‘UUZ", tndfan Reff ctfs Shattue 2) Ind Ref pf¢7)... it .lu“‘ Snell Un Inld Stl (pi6%). “ Inspiration Copr DR cbect L 5 InterboroRapTr. T Intcontl Rub(1l) 20 20 | Internat Agri. .. 56ls 86 int Agricul prior ..n‘- Int Bus Ma (5)., Int Cement (4).. Int Cement pf(7) iut Com Eng (2) Int Comb pf (7). Int Harv (§6)... IntMteh pf(3.20) Int Mer Mar pf. Int Nickel (2)... Inter Nick pf (8] intl Paper(2.40) int Paper of (7) Inter Salt (6)... It Shiver. Intl Silver pf(7) Intl Silver rts. .. Int Tel & Tel (6) Intertype(t1%). Jewel Tea. . Jones Bros Te: Johns-Maran(3) Jones & Lau (7) Jordan Motor. .. Kan City South. KayserJ (4)... Kuyser (rights). Kelly Spring. Kelly Tire 6% pt « | Kelly Tire 8% p 9 13 | Keis-Hayes (2).. IKKennecott C(5). iKinney pf (8)... Kraft (g1%)... Kresge (11.60).. Kresge Dept Kresge D S pf Kroger Grocicl) Laclede G pt (5) Lago VIl Libe).. Lambert Co(b).. Lee Tire & Rub. LehighVal(314) | Lehn & Kink(3) «| LifeSav (1.60). o | Lig&Myerali(15) 5 { Ltma Loco (4)... 615 Lia Curb (3.60). 189% { Loew's Inc (13). 78 .| Loft. 04 Loose- Wil(1'60) 1 Lorillard Co. ... p Loutsiana Oll. .. LoulsGasA(1.76) Louts & Nush(7) ¥l 4 | Ludlum Steel(2) 140 140 | afack Truck (6). 109% 111 | Atackay (1).. 101 101 | Mackuy pf (4).. 107% 1074 | Macy (1 1) (c6) & 87 Mad Sa Gr (1) 4y EXES G0 1 214 91ty 1081 B2% L’ac Tel & Lel Packurd Mot(3). Lunhandle, Lanhandle pt. .. Parmt-Fam(j8). Lark & Tilford. , rark Utah (3uc) 107'% 1.1_4‘. 2 1794 163 16315 464 111 604 Simms Lete # 1 Siuciair Ol ¢ 1 Skelly Qi Sloss-Shel (6).. Suider kg pt So L'or 116 S112) South Calif kd.. South Dairies A. South Dairies 15, South L'ac (6). .. j Southern Ky (8) Souly M&U s 4 Spauiding pe (1) Spear & Co..u... Spear&lo vt (1) Spicer Mg, Std ComTobacco SWU s LS. St Ml 3).. Std Milig bE (6). 1 Standu Caiz ) SWUILNI (L) St UINY(160) Std Plate Glus Std PIGlass pt.. Sterig Frodi1). Stewart-War (6) Strom Car (2).. Studebaker (5). Studebak pf (7). ubmarine Boat. Sun Olf (nl).... Sun O1l pf ( Superior Oll.. .. Superior Steel. . Sywington Ci A, Tenn Copper (1) Fexas Corpn (3) Tex Gulf Sul (4) Iex & Pacific. .. Tex Pac C & Oil. 'ox Lana Sret n hatch cv pt 2.60 o Falr (240). TidewaterAsUll. TIdWAsULIIPLE) Finken (18).... Tobac I’rod (m). | Pobac Prod A (7 | Transcont Oil. .. ' Uransue & W(1) Twin City R (4), L UAWA-ELF (4).. "L Union Carb (6, Un il of Calt2). Union Pac (10). Un Pacifio pf4) | Unton Tank (6). 110% 481y 1044 llJl. 85 1164 JIEN 140% it 1017 1% 109 0% 810 26t Utd Cr St pf(8) United Drug (%) Utd Dri I8t (34 Utd Erultit6) USCIP&I0) U S Distributing U S Hoffman (4) Leather w i, ner A.. Sup (6). lev K1d(7) m K (d6) Man Shirt (2)... Maracatbo O1 Marland ON. . Marlin-Rock(2). Mathieson Al(6) May Dopt 84, Uni Leaf Tob(3) Maytag (18).... Uni Plo 1at pt(8) Mexican Seab, .. i T Uni Plpe & Ri2), Miami Cop (1), Ut PELUACeY) . Mid-Con| Middle Ntate Mid Siaten U1l ¢t Midland bEriz) Miller Rubber 5 1079 107% Wil KRy Ttk (1) Victor g pi 18) ., Vietor pr pt (7). « Gty Mo Kun & Tox., ol racine Fuo pf, Montuna Pow (6 Montgmry Wb Moon Motor..., Mother L (60c) . Motor Met (3.60) Motor Whi (2).. 1 Sulline Mfi. .. Bulling 13 pr8)., Munsinewr (3), Murtay Corp Naah Mot 16%4) Nush & Chat (1) Nut Acme ). 3 Nat Mellun Henas G Natiiiless pf(7) 1oty Nat Biscult (17) Fing Nat Canh H(A)S vl Natl Dalry (3) . [ Nat D Kt 1at (1), [ Nat Distill i 106, datn 106% Vivaudou pf (1) Vulean | Vuloun Detin(A) Wabash. ... Waldorf (1%).. Ward CLA (8).. Ward Haking B, FoA... Quinid) Warreniat of(3) 1wt Vot T d Po(6).. 110 Hat 6l HETN an oty Woatn Paciio pf i Wast Unton (#). 1oy Wenthae A H(d) . 40 \ -.nnuluouL i i 166 1 N Nut Pows Lt (1) Nat Hadlator Nattad pred) ., Nat )y Mex za., Nat Bupply (16). e ™ ) \ Wanlwarth (6). . y 9 Worthn Pump e ossarinll gl Warth Pump (8 NY Bream pf (6) Wilkht Aaro (3), 16604 1641 166 | Norfolk&k W(110) 1x0 Witkley W 134 B2 B NoFAm iU ete 0L Yatlow Truok. ., 47 T 164 10% North Pae (8), Tounyaia Bad) . i B4z ity d408) 10y 1807y oy NEW YORK STOCK EXCHANGE en. High v P a6 Lo Loty 120 i vin 107% 194ty 1404, 1wy TN TN [ ET § 3 o e Vo . T a0 H bR TN LN (e e i TN Wik A 2l o (1N i rest were up fractionally while one | Pipe & GENERAL MOTORS MARKET LEADER Flood of Buymg in Stock Fol-' lowed by Period of Realizing Sales. BY GEORGE T. HUGH Special Dispateh to The Star. NEW YORK, March 5.—Responding | to stimulus given by the remarkable | demonstration In General Motors on Saturday, the stock market started in | th an accumniation of buying | the exccution of whic] up_for the leaders decidediy. The opening transaction in General Motors was for 20,000 shares at 145 to 1447, compared with the previous close of 1447, and that, it must be remem- bered, represented a nec gain of over five points from Friday’s close. Trading was in huge blocks all through the first hour, with the price mounting to 14% the highest for which the present $25 par stock has ever sold. The turn- over in this one issue alone between 10 and 11 o'clock amounied to 433,400 or at the vate of 2,167,000 shares for five hours. Period of Realizing. ‘Then came a period of realizing sales, under the weight of which the price f(-lll off a point or so, with a considerable | lessening of the volume of business. nited States Steel, which had been second only to General Motors on Sat- | urday, followed along today, but at a | much slower rate. Nevertheless, it ad- vanced a point to a new high on the movement Meanwhile, active covering operations went on in various other speciali One of them was Gold Dust, which its best above 97 was up over 5 points | on the day. Victor Talking Machine was up 3 points above 69 and at the | highest since listing. Still another was | Montana Power. which gained 6 points as_it crossed 167. There could be no doubt about the ' existence of an_extended short inter- est in Montana Power, an interest that had been increasing during all of its long and mysterious advance. These b.-gr operators were running to cover today. New Buying Appears. New buying appeared in other stocks Coca-Cola set a new high for the year at 139. American Can was very strong and Paramount-Famous ran up a couple of points. Paying $8 cash and 2 per cent in stock, the latter, it was argued, was not overpriced on its investment merit. Montgomery Ward, Lambert, Westinghouse Electric, Coty Incorpor- ate, Vanadium and others participated more or less. The strength in General Motors com- municated itself only partially to the stock of the independent producers. Among these Willys-Overland stood out with the gain of a point. Some of two actually sold off. The delay in quantity production of the new Ford was given as one explanation for the buying of General Motors. Railroad shares were comparati: quiet. New York Central was well sup- | ported around its recent top and there was some short covering in the Sea- beard Air Line issues. Activity, however, l“l“l confined in large part to indus- rials. Wall § UNITED STATES CAST IRON PIPE & FOUNDRY.—Wall Street sta- tisticians, looking over the quick assets of various corporations, see. a strong position for United States Cast Iron Foundry. Cash on hand amounts to $6.902.000 and Liberty bonds €6,602,000. Inventories .mount to $2,900,000. Current liabilities are less than $1.400,000, and half of that is accrued taxes. Incidentally, it Is point- ed out, $13,504.000 in cash and Libertv bonds is equivalent to about 56 per cent of the total capitalization, consist- of $12,000.000 common stock and 000000 preferred. "~ & RI” GRANTE WEST- Locb & Co. have pur- chased $12,000.000 principal amount of the Denver & Rio Grande Western Railroad Co. refunding and improve- ment mortgage 5 per cent gold bond: serfes B, due April 1. 1978, which the are offering subject to prior sale at 9 and accrued interest to vield about per cent to maturity. The proceeds will ba applied to the payment on June 1, 1928, of $8,335,000 improvement morts rage 5 per cent gold bonds of the Den- ver & Rio Grande Railroad Co. and to provide in part for the company im- provement program for 1928. SAFE-T-STAT CO.—A new fssue of 55,000 shares of common stock of the Safe-T-Stat Co. is being offered at $17.50 a share. The company manu- | factures a thermo-electric tempera- ture indicator, adapted for combustion engines. — | CORN PRODUCTS REFINING —The balance sheet of Corn Products Refin- Ing Co. shows quick assets, including | marketable securitics “at cost” of $32,349,000 and cash, demand and call of $8.500,000. Current assets ul\rl 00,000 and current labilities 000, meantng working capital of $51,000,000 COLUMBIA GAS & ELECTRIC — The Columbla Gas & Electric Corpora- tlon, operating i Ohio, West Virginia and eastern Pennsylva cports net Income for 1927 of $2 3 com- pared with $26.470.906 in flll‘ preceding | year. Gross earnings. however, in- | creased nearly $4000.000, the falling off in net being accounted for largely by the loss of Income from large Federal, State and municipal bond holdings, which were sold to provide eash for new construction and other corporate put- | poses. Street Briefs PRING BROOK WA- | A new tssue of $5.000.- | ring Brook Water Serv- feo Co. 41, per cent notes has been purs chased by a svadicate headed by Q. L Ohrstrom & Co. and will be offered to the public soon FAVOR DIVIDEND BOOST. BREMEN Germany, March § (9 An 8 per cent dividend, as compared | With last year's 8 per cent, fs favored | by the directors of the North German Lloyd The divectors today decided to Propose the larger vate at the annual general meeting on \mwn 2 POTATO MARK li'l‘ STRONGER. CHICAGO, Mareh & (1)~ United States Depariment Agrteultare Potatoes ~ Recelpls, 236 cats, on tack, | 360 cars; tolal United States shipments | Saturday, 1063 cars; Sunday, 26 cars, | domand and trading moderate; market Wisconsin sacked round F00a2 20, Waho sacked russets Burbanks, 22042 33, commeroial, 1.90a Flortda bliss triumphs, - erates, Market Lo Hourly Sales on N, ¥, 00 1YL B0 ¥ e A YO0 shaees W o 1y s w1 e iy WA R flus o 1 ran prices | | W - .luN ll\Ihllu\\ . piaerivd k. prele ok Loans on Real Estate 3,5 or 10 Years WE BELIEVE OUR ECONOMICAL PLAN -OF MAKING LOANS WILL APPEAL TO YOU. Residences, Apartments and Business Prop. erties m the District, and nearby Montgomery OSSIHELPS Founded 1907 PONDF I INSURANCE €0 Main 9309 LOAN ¢ JOUN HANCOCK MUTU AL 1417 K St BT JE EquitableCo-Operative Building Ass’ n JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary Organized 1879 48th YEAR COMPLETED $5,292,042.70 Surplus .S1,511,115.87 Subscriptions for the 94th Issue of Stock Being Received Save the $ystematic Way —Join the Equitable Whether you automobile, a an investment cally in T helps you quickly. Com you about it. 915 F STREET are sav PER SHARE 20,000 employes help earn your dividends When you invest in Cities Service Common stock you become a profit-sharing partner in a nation-wide organization. More than 20,000 men and women, employed in serv- ing necessities of modern life to millions of people in 33 states, help to earn a regular income for you. In 1927 owners of Cities Service Common stock received over $9,500,000 in cash and stock dividends. You, too, can increase your 1928 income by investing in this 17-year- old security. Put to work now, your spare dollars earn a net yield of over 8%. HENRY L. DOHERTY & COMPANY Southern Building (& Washington, D. C. Tvu.-pn—-fl—ufihm —— == ————— NY TY & COMPA! “-:n‘:fi“l';:x \\nnlnn-n o. < Write Your Name on the coupon below and mail it to us for booklet telling how you can invest $100, $500, $1,000 or more in safe, first mortgage investments and obtain 6':% Investors in every State and in more than 50 countries and ter- rvitories abroad have purchased these aecurities for a liberal in. come with safety of principal. o —— e em————— INFORMATION COUPON' THE F. H.SMITH CoO. " Ivwestment Bankers o Founded 1873 Smith Building, Washington, D. C. (B15- 1508 Street, N. W, Main $460) efices in l';:l - and e (ibies N Brasch New Gentlemen: 1 am intevested in safe westments only, Send me copy b new itlustrated bookket, e AME L uansiiissn s esssssinsnssn s s s osseaseess 4 - v o el " - - ADDRESS N oo - -