Evening Star Newspaper, March 5, 1928, Page 11

S.A.1..BOND SLUMP FELT BY THE LIST Over 60 New Highs in Foreign Group—Industrial Issues Are Irregular. BY CHARLE: Dispateh to S F. SPEARE. he Star, ch 5.—A more care- ection of bonds of the semi-specu- cpe is shown in the movements ful s nd has been affected The Seaboard Air d a decided effect character and in the Seaboard ough to d securities. ent in the 1 sed to lose gro e extent of previous Flori 20 the episode has been rpart in the ra It oby b- ich ited this aftel e first sign of support that oved since the de- t & C for some years. 1 bons . Dodge 6s and United Stat d fractionally from the Jow quotations of a few days ago. ‘There has been liquidation in Liggett & Mey W were below 104. were unaffected by the v. Brooklyn Union Gas Both in the indus- last week there idual issues which sold ime this year. New Highs in Foreign List. On the other hand, there were over 60 “new hig! in foreign bond de- market. This included h American issues as se of Scandinavian countries and of Germany and Japan. Prices of foreign: e changed. cing by the Denver and Rio Railroad today in the $12,000.000 refunding and im- s is another step toward sical development of this prop- ment of its credit vement 5s due next were man; lower than a: of this issue with the next maturity in 1936 when the consolidated 4s and 4!5s are due. The statement of earnings which accompanies the bond issue is a poor argument for delaying payment of interest on the general mortgage 5§ per cent bonds. Washington Stock Exchange Sales. pfd.—5 at 1071, ~—3 at 475. ~—50 at 103% v. pfd.—50 at 5%. . Co. pfd.—5 at 10733, 10 After Call. Wash. Gas 65 “A"-—$1,000 at $1.000 at 1057 Wash. Gas 65 “B™ Cap. Tract. Co—10 at Money—Call loans, 57% and Bid and Asked Prices. 1057, 4444449429080 D L ron ] “COTTON BELT” SURPLUE NEW YOI Munh b b spius of | oty ¥na Charge BIOSEIG b Janumiy deal Juss A S wee §1 by CRULH Recelved by Private Wire UNITED STATES. (Sales_are in $1,000.) Sales. Hizh. lLow. 28 10118 10118 5 10116 10116 103 10229 10017 100 14 103 22 10219 2:83, 10116 1011614 103 @ 10017 103 20 11013 115138 128 Lib ath 4s 47 US4s1944 100 11018 11013 USe§sb2 100 11513 115138 FOREIGN. Argentine § Argentine 6s Ju 69. Argentine 6s Oct59 Argentine 6s A. Argentine 6s B. Australia 58 1955. . Australia 68 1957 Austria T Bank of C! Belgtum 6a... Belzium 6348, Belglum 78 1956, Belzfum 7s 1958, Belgtum Tigs, | Belgtum 8s....00 Bolivia 8s Bordeaux 6s Brazil 6%s. P 1004 100 100% 100t 100 100 100% 100ty 100t 100t 997 100% 8 a7y 100t 1 107t 1 107% 107 106 1064 115% 115t 1104 1104 105 105% 101% 101% 96% 9Ty 1000, 100% 110 110 100% 100% 100% 1004 102 102 107 100 101y 1010 101t 11078 110° 1105 110t DRl 28 2 101 101! 100 Ty 100! 9T 974 100% 100% 103% 103% 105% 1054 1104 111% 1o 111 1108 1074 108 106t 115 2 110% 105% 1014 9Tty 100 110% 6 100t 100% Chile $s 1941, Chile 8s 1946. Chinese Gov Ry §s. Christiania 6s. Con Pow Japan 7s. Copenhagen bsct.. Copenhagen 51 s. Cuba 5%s... Czecho 73s rot: Czecho 8s 1951, | Czecho 83 52, 100% 103ty 105 6 111% 1035 103% D 104% 104% Dutch East | 6s 62, 104% 104% El Salvador 8s 48 Finland s f 6s 45... Frame . 98 107% 107% 1045 1028 100 1004 German 7s. Ger Gen Eleo 78 Haiti 6s ltaly 7s.... ltaly Pub 7s, Japanese 4s. Japanese 6143, Lyon 6s. Marseille Milan 614, Montevideo 78..... Netherlands 6s 54. Netherlands 6s 72. ew So Wales '57s. New So Wales '38s. Nord 6%s Norway § 1001 98Y N 108 1014 101% 93 10314 102% “ 1014 1014 101% 101% 923 10315 1 102% 102% 106 106 95 it 102% 1 101 1021y 10213 2% 102% 1004 a 1024 1024, Orlent Dev deb 6s.. 100 100% Paris-Ly-Med 6 : Paris-Ly-Med 7 Paris-Orleans 7 Peru 6567 w.1. Peru 7s.. Peru 7%s. Peru 7345195 Peru 8s, Poiand 6s 40. Poland 7s (rcts). Poland & Prague 74 1 1037 104 azey 923 103 101 107% 107% 107 107 110 110 5 b4 914 914 1005 101 4 1054 10515 1131 113% 1134 106% 106% 106% 110 110 110 o 93 4 107Th 1074 10513 108% 108% 102 101+ 102 1003 106 1061 1003 100% 100% 1 104% 104t 1041, 1037 1034 1037 103% 103% 1037 100 99% 99y, W 19 T9%y 92 9% 9% 11815 118% 1181y 106 106 106 109% 109 109% 98 9T% 98 MISCELLANEOUS. Ajax Rubber 8s... 2 107 107 Am AgriChem 7%s 2 105% AmSmit& R 1stbs 17 1023, Am Smit & R 6s. 2 10 104 1074 107 110 Bty 1% 101 10. cwe=ced 9 LTS Riode Jan 8s 1946, Riode Jan 83 47. wrs BauiBe or Sao Pauio 1950 Saxon (PW) 7 Seine 7s 42 Serbs Crot Sio 8 Sweden 518, Sweden 68 Swiss 5ia8 1946 = 9 Utd Kingm 5% 8 37 Urug: 8s....... b Yokohama 6swi.. 36 107 1044 1047 49% 99% x 1054 91t 91% 1054 1054 1104 110! 120% 1207 Armour Del 6%s. . Barnsdall 6s 1940, . Beil Tel Pa 58 B. Eell Tel Pa s C, BethlehemStl pm! Beth Steel rt bs, Bethi Steel 6348 Eeth Steel 63, Ekiyn Edison 6. .. Ekiyn Union 6%a.. Chile Copper &8 Col Gas&El d 1005 100%% 1085 109 111% 111 101 101 103% 1 103 105 105 1061 106% 2 m 954 96 4% 100 Ty 79 106 106y, Fow R Yl 92 1065 106% 101 1014 LGN 104 1044 105 108 % ER% YO U 1050 L3 UTAS 4 271 47 96 53 100 7 9% 9 1061, 14 ERy 26 92w 1 106y 11 101% 12 60 6 104 Cuban Am Sug 8s.. Denver Gas Gn. .. Lery (D G) 115, Detroitizaison bs 40 Detroit Edison 6s.. Fisk Rubber & Gen Mot Ac C Goodrich 6% 1074 107% ush 9is 91 97 4 100% 100'% 1050 105% 100% 160% 1657 101 955 109 104 1106 & Co 6%a. Humb| iiinotn Hiinois Eteel 4%, Int Mer Marine 6 IutTel&eier 4%8 J Kuyser & Co b ity I & L bs. Eitstz h, 2 100% 6106 7 9,5 10y % 104% 100G 1o ielly-Sprin 10# 104 Lac [TH 103% 101% Luclede G LYn b 2 1045 164%, | Like & Myers ‘06, A 108Ye 108% i a1 o G4 Loulsv G 104% 1040 Atl Bug 6t T%e 1067. 106 B110 Con 64840, ., 1044 1047% Midvaie Breel b 101% 1014 | Munt Fower bx 43, 104 10408 Engiana Tel by oW 110% York 1 6Ys. s s B0t 102% 10m% J0mom 1 1020, 1042 1041, 105% 100 10605 1061y 1030 H0isia 100ta 10514 4 e Kan 10 106% 2 1054 9 101% Z 104" 1 104% PRI 11064 6 1020 Tl ot 41 10i% 101y | 1iilak tenn CAT b8 L iarce-Ariaw ta. . ity Seur e A ol 6 L iubic Service b 4w 10570 1050 ! vl 0T 10T JemtuptonAr 6e 22 2 b " 1oir Ol G et Ol B Jonty i it 100 {5 Pipe Line by [T Hhelly 01l 64w | o sell Tel ba, | Houthwent fzetl LBrand O3 N6 | Tenntiecirow United rug 89 RIS U S T | steel of b8 ran Pow & L1 be, 1065 10B% sty 10 0% 107 W07 10T 910 Vot M, Hory 108 Tolsy 02ty . 929 FEVENING [ BONDS o ] Direct to The Star Office Quotations to 2:35 p.m.—Final Quotatfons in 5:30 Editlon. Bn!u.nlzmhi Willys-Ov 6%s33, 11 Wilson & Co 15t 68. 10 103% 103% Yngstn S&T 68 w.d. 46 100% 100% RAILROAD. AtlanticC L 1st 4s 10 AtSSF ovt 45 05-55 3 Atchison gen 4s... 10 Atlantic C L el & Atl & Dan 1st 4s Atl & Dan 2d 48 48, Tow. 2:58. 02 102 103% 100% 6% 968 B&Orfimpés.. B & O Toledo ds. .. Rrooklyn Elec 6148 Brdwy & 7th Av § Rklyn Manhat & Bang & Aroos 4s Buff R & Pitt 44s. Can Nat 4%s67... Canad North 7s. Canad Pac deb 4 Can Pac 4148 46 Car Clinch&O 6s 652 Cent Pac 1st 53 90. Cent of Ga §s. . Chesa Corp bs w! Ches & Ocv 4%s.. CB&Q4K%sTIB. Chl 3 & Q 1strfbs. CB&Q-111div 4s.. 100% 115% S0 100 & 1081, 104% 101% 291y & 1001y 101% 1081 96 LSt 4 10 Pevelos3vefs 18 StPrfals, CM&StP adj (new) 638 Chi NW 41582037, 4 CRIPac4%swi. Chi TH&SES6s.. Chi Un Sta 448 Chi Unlon Sta 5s.. Chi & W Ind cn 4s. C& W I15%s862 Clev Term 5%s CCC & St L 6s D, C&S1stas29, Cuba R R §s CubaRR T4s..... Cuba Nor 5% s ots, Del & Hud 1strf 4s D& Hud cv 5s 35, Del & Hud 6% Den & Rio G ¢l 10 109% 104 100 a8l Det United 4%s... Erle (Pa) cit tr 4s. Erte gen 4 Erleconv4s A. Erfe cvt 58 67 wi. . Erie Genessee R 63 Erle conv ext 7s FlaECSs74. 1051 8ty Great North § Great Nor gen 7 Hud & Man ref 5s, Hud & Man aj 6 11l Cent ret 4s, 111 Cent 4 %8 Il Cent Cht 111-C-C StL&NO b8 Int Rap{d Tran 5s. Int Rap Tr 68 stpd. Int Rapid Tran 6s Int Rap Tran 1s Int Ry C A 8%s ret Int & G Nor 1st 6s. Int & G Nor ad 6 Kansas City S b Kansas City S 3s. Kan City FtS4s... Lake-Shore 4s 28. . Lake Shore 48 31.. Lehigh Valcn 4s. . LehizhVal con 4%s Lehigh Val 5s 2003 Long Island 5537 Ml E) Ry & L 65 61 M St P& SSM cn 4s 2 MStP&SSM55385td MStP&SSMb%s MK&TprinbsA. MK&T4sB 1001 FIEN 102 108 Q0% 106% 1021 9% 101% 984 % 104% 0% 1065 Mo Pac 58 A 65. Mo Pacific gen 4 Mo Pac 58 F 17, Mob & Ohto 4%s 17 Nassau El 48 6 New Or Term NOTex&M6sA.. NOTex&M5sB N Y Cen gen 31y N Y Cent 48 98, NYCrfimey N Y Centribs. NYChI&SIL 5% NYC&StL6sA. NY NH&H db 49 67 3 101% 1004 5 9513 102% 109 107% 102% iy 105% 1014 100% 88 102% 109 107% 102% Al 105% 16 ty 4% NYW&Bos 4% or& S gen 63 b4.. 6 r Pac 382047, orthern Pac4s... 2 46 TN Nor Pac 4% 20. 1025 Northern Pacr 115% Pennsyl gen 4%, 10814 Pennsyl gen 6 1125 Penunyl bs 64 108 Pennsyl 6% Pennsyl gol Pere Marq 1st 6 Port R L P 6s 47, PCC&SLLGSA C&StL bs B 16 oG West el 4 RIATk& L 4% Reading J C 4x 01, Bt L IM&S R&G 4 99y ! Yt | 108 lu2iy TR 102 1004 s BtL &S K prinés - StL S W con 4s 3 100% e 100% o s ui Boatoard AL Huab A Liref 4 Heub A L ady Heab A L con B ALl Fla 68 B1 AL bia 6335 18, Hou Pac 4w zy. . | Bou Pucitio ret 45 Hou Pacific 4 1m w 1 oIty pen & Hou ity Con u Ity 68 66, Bouthern ity 6%48. . ToxArk ¥'H 6% 8 60 Texan & Pacifio 16t Tex & 1’ao bw 17 ris Third Ave Tol Ir L&k b4 Union 'ac 1at 48, Union 1%uc 18t rt Un I'as 4% n 67, Wibanh Int e, ... Wabianh 20 6a. Wabaen 648 16 Went Marylana ki 60 126 1064 2% 10 (N 101 oT% 126 10614 PREAN 10 06 101 9% o 10614 11 104 bote 101 Y% o 100 10504 104 n 100 b * 10t 1064 108'% 1099 Bty 1011 ol'n nely 1061, 10410 105 1017 2 vin by By TREASURY CERTIFICATES. I v d & W Sellknan & Ca.) Olter’ (uuted by Alex Biown & Sone Jate: Mutipit Jid. A 12 1041 41000 1 I Juh due EhYe BN 108 104 2% LN B & 10 AU 204N Vertienten b lu Veat Koo b8, ... | Wewtn Unton 8%, Weasllighuuns bs. § 1 W00 dolt ko . Parts now has one drinking estab- Asiment 1o every 16 peaple, | dullest since Midsummer. STAR, WASHINGT STOCK LIST DULL INWEEK'S TRADING Price Index Up Almost Eight Points for the Period. Volume Light. stock market was the There were fractional price recoveries made by nu- merous lssues from the lows of the re- cont recession, but prices for the week are still substantially below the average for the month. The price index of stocks traded made up from each week’s most active issucs averaged for Febru- ary 263.0, almost 8 points higher than last weck's index. Motors as a group made the strong- est comeback, the index for the group advancing fully 5 points. Hudson quo- tations advanced $4, Nash and Pack- ard $3 each, and General Motors picked up $2. The ofls' index picked up nearly 3 points with Pan-American, Sun and Atlantic Refining leaders. The foods group index gained a couple of points with American Sugar, Beechnut Pack- ing and Standard Milling the strong- est_issues. The steels and equipment were the weakest group, their index dropping fully 2 points. Sloss-Sheffield, Inland and Colorado Fuel & Iron were off $2 or $3 each. A compact survey of Stock Exchange movements is given below by indexes and per cent of return: St i Last weck's Rato of return 0% « Stocks Week ending— b ) (ADE26) (Feb, Stock market activity was the lowest | last week since week of July 15. The value of trading in common in- dustrials last weck was only barely over $100,000,000 a day. ‘The number of shares traded was about the same last week as during Midsummer dull period, the higher quotations now prevailing making the value of tradings higher for the same number of shares. All groups showed a slackening in activity from 15 to 50 per cent below the preceding week. ‘The Steels equipment group showed only about half the turnover of the week before. United States Steel alone had a total turnover for the week of about $16,000,000 less than its preceding week’s total. Trading in Green Cananea Copper was about $11,000,000 less than during the week before. Chrysler and General Motors each showed tradings totaling about $4.000,000 less than for the preceding week. Average daily tradings for the week of $105,800,000 were far below the daily average for the month of February, which was $139,000.000. The average daily volume of trading for the preceding week was $154,700,000 and for the corresponding week a year ago was $126,200,000. (Covyr BUYING POWER GAINS. Further Increase in Farm Product Prices Helps Growers' Dollar, The rising trend in commodity prices last week was evident in agricultural goods, while non-agricultural prices re- mained unchanged. As a result the in- dex of farm purchasing power again moved upward, Index numbers of farm purchasing power and of agricultural and non- agricultural prices for various periods are given in the following table, in ;\)nch the average for 1926 represents Farm purchas: Agricul T3 tur power prices. 1010 105.9 1040 038 1004 1000 100.0 (Covyright, 1928.) WILL RETIRE BONDS. NEW YORK, March 5 P).-Retire- ment of more than $12,000,000 in bonds will be effected as part of a program for simplifying capital structure of In- terstate Public Service Co. and reduc- ing interest charges. An issue of §12,- 554,000 first mortgage and refunding 4'3 per cent bonds which will provide the necessary funds has been sold to wdicate ded by Halsey, Stuart . Only three serles of first mort- gage and refunding bonds, compared with five previously, will be outstand- g when the operation is completed. ‘The company operates chiefly in Ine diana. REO PROFIT GAINS. NEW YORK, March 5 (#)—Reo Motor Car Co. emined $2.36 a share in 1027, against $151 a share in 1926, profit rose to $4, 31 from 119,510, - . BANK CLEARINGS UP. Special Dispatel to The Star FREDERICK, Md, March 5.—Bank clearings here for the first two months of 1924 d clenrings for the same T ] 19488, A total l d through the clearing t two months, Banl officials declure this 1 the largest amount reported for the first two months of the year, GOOD YEAR SEEN. NEW YORK, March 5 (.- Coll- fornia Packing Corporation s facing a good year and the outlook polnts to favorable earnings, sald James R, Avmeby, chafrman, arriving from the ine ¢ on camship Cali- forniu k current wan satisfactory and couraging fiscil vear ¥ ended March 1 should aro favorably with (he previous he nald, when net income was $53. o 3517 w share on the com= ok FOREIGN DXCHANGE. (Quatations Bucished by W, 1 1 & Co) i) kil Bolling checke ‘ " NEW YOIK, March b (4) exchiangon mixed, quotations, Great Tyitaln, 48710 cables, 4877y, 60+ day DU o bunks, 483% . France, de- mand, S04 4-10, cables, 303 7-16, (aly, L BT cables, b Helglum, — paoa Ger- Norway, 26 630, Hwe 260 Denmark, 6070, Hwitaers 1024 Hpiin, 1089, Greece, 1 wind, 1180, Crechostovakla, 2060 Jugoslavia, 196, Austita, 1410, Ru- manta, 617, Argenting, 4380, Hraell, 1200, Tokio, 40.76; Bhanghal, 64189, ; Montreal, 00.00-3130 WI’AM. 403044 many | Both Receipts and Sales of Mary-| ONDAY, MARCH 5, 1928, I Money and Prices Commodity prices continued firm to strong last week, Although the net gain reglstered by the weekly index was fractional, the average for the month of February was 96.7, showing more than a point gain over the January average of 95.5. The February average is the highest month by average since December, 1926. “The purchasing power of the dollar receded slightly and was only 3.2 cents higher than the 1926 average taken as 100. Fluctuations in the general whole- sale price level and In the purchasing power of the dollar are given below for various periods. The average for the year 1926 Is the base used. Wi P Index Power ots Departure from 1026 o9 a Cable advices from London report that the index of wholesale commodity prices in England as computed by Crump also showed strength, rising to 935 lnst week, as compared with 93.0 a week ago and 955 a year ago. Ttalian prices reccded slightly to 745, compared with 74.8 the week preceding and 91.4 a year ago. (Consright, 1 WHEAT SCORES GAIN AS CORN GOES DOWN Unfavorable Crop Reports and Drop in Amount of Grain Afloat Are Bullish Factors. /) Ry the Associated Press. CHICAGO, March 5—Wheat prices showed an early upward trend today, whereas corn went lower. Decrease of 4,000 bushels in wheat afloat, and con- tinued unfavorable domestic crop re- ports had a bullish effect on wheat, but corn reflected likelihood of visible sup- ply enlargement. Opening at '« off to up. wheat later scored gains all around. Corn started at a shade to 13| decline and subsequently receded fur- | ther. Oats held steady. Provisions were | easier, but rallied. TOBACCO TRADE BETTER. land Leaf Show Increases. Special Dispatch to The Star. BALTIMORE, March —Both re- ceipts and sales of Maryland leaf to- bacco last week showed increases, the former totaling 118 hogsheads. while sales amounted to 184 hogsheads, leav- ing a stock in State tobacco ware- houses of 6528 hogsheads. Practically all the sales were of the new crop, for | which demand continues very good at| full values. ¢ Quotations today for Maryls tobacco per 100 pounds: Inferic 8.00; frosted, 3.00a4.00: sound common and greenish, 9.00216.00: good cggmon, | 1700a30.00; medium, 31.00240.00% good to fine red. 41.00a5550; fancy, 56.00a 58.30; seconds, common to medium, 5.00a24.00; seconds, good to fine, 25.00a | 45.00: upper country, air cured, 3.00a | 2500; ground leaves nominal. DIVIDEND INCREASED. VEW YORK, March 5 (#).--Common Stouk of Middie West Utilities Co. toda was placed on an increased annual di dend basis of $7 a share, formerly $ with a quarterly disbursement of $1 7. | payable May 15 to holders of record April 30. Regular quarterly dividends of $2 and $1.50 on the preferred issuc also were authorized. Commodity News NEW ORLEANS, March 5 (Spe- cfal).—Mills of the Southern Pine sociation report new business decreased 88 per cent in the last week to 49.193,- 000 feet. Shipments fell off 3.3 per cent to 48,483,000 feet and production drop- ped 1.4 per cent to 50,108,000 feet. Un- filled orders totaled 179.200.000 feet. COTTON IS STEADY IN TRADING TODAY Buying Side Favored and Prices Advance—Weather Is Factor. By the Associated Press. NEW YORK, March 5—The cotton market opened steady today at an ad- vance of 3 points to a decline of 2 points. A little selling on relatively easy Liverpool cables appeared to be more than offset by trade buying and cover- ing, the latfer probabiy promoted by fatlure of the weather map to show ex- pected rains in the Southwest over Sunday. While trading was rather quiet, prices held steady during the first hour. May sold up to 1 and october to 18.00, net advances of about & to 10 points on active positions. Private cables reported hedging, with continental and Bombay selling in the Liverpool market early, the declines be- ing_followed by moderate rallies on trade calling and local buying. _ “The early advance extended to 18.57 for May and 18.08 for October, or 17 to 18 points above Saturday's closing quotations. ‘Trading was quiet, but offerings were light, and the market responded readily to small buying or- which appeared to come irom _of late last week. Some tradc buying was also reported, but the vance met a little realizing and prices showed reactlons of 2 or 3 points from | the best at midda: 1 SURVEY EAST SHORE. Baltimore Business Men Study Con- ditions on the Peninsula. Speclal Dispatch to The Star, BALTIMORE, March 5.—A survey of trade conditions with the Eastern Shore i1s being made by the Baltimore Asso- ciation of Commeice in connection with the foreclosure of the Baltimore, Ches: peake & Atlantic Railway. The fore. closure_sale has been sef for March | 27 by Judge Coleman in Federal Court. | The aim of the suryey is to develop | new avenues of busiriéss between Bal- { timore and Eastern Shore and southern Maryland. The Pennsylvania Railroad has an- nounced it will be a bidder at the sale, which has been brought about through failure to continue interest payments n a $1,250,000 mortgage. covering an issue of bonds to that amount. Money to Loan Secured by firat dred of trust on real estate Prevailing interest and commission | Joseph I, Wellr i 1st Trust Loans Any Amount D. C. and Montgomery County Large Construction Projects FRED T. NESBIT 1010 Vermont Ave. M. 9392 Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford esenting Mutual Denefit Life Ina o K Street Main 433 LOANS ON REAL ESTATE va omnt Keplies. to ANl Applications THOS. E. JARRELL CO. REALTORS 721 10th St. NW. Main 766 Listed and Unlisted Securities Bought, Sold & Quoted (Trading Department) C. E. Moran & Co. YOUNGSTOWN —Youngstown steel- makers are expected to benefit through savings in freight rates on coal and steel products caused by the bullding of a mew 50-mile raflroad line from Youngstown to the Ohio River at Smith's Ferry. This building program has just been announced. READING.—The 5-cent clgar has| registered a renewed demand, accord- ing to the factorles located in the | Berks-Lebanon revenue distriet, The gain in February as compared with January amounted to 5,000,000 cigars An increase in the 10-cent brands also was noticeable, HOLLAND, M he orlginal ship- ment of 2,000 baby chicks which was sent East a week ago s being followed by additional shipments and it is p | dicted that many million chicks wiill move eastward before the end of the | season in July. Fifty large hatchertes | are operating in this district Moran Building 1716 H St. N.W. Main 3628 ThE F.H.SMITH CO. | The reqular semi annual dvidend of Three Dollars and Seventy Five Cents ($3.75) pei abare on the outstanding 7ls% comwiative Prefecrad Stock of The F. H Sith Compan: and of Thiee Dollars and Fifty Ceats (83 <0 share on the outsianding TS cumalati Stk of The F. H_Smith Compan Rave been declared payable Manh iSth, 1828 | | 10 the holders of the respective Preferred Stocks of recond March 10h, 1978, The books will he | closed as of the ciose of business March 101 1925, and will be reapened at the opeaing of Busisess Macch 16th, 198, J. H. Fowaros, In, Treassowr. Whalingtes, D. C, March Sad, 1928, Your Patakas HE Maoris though an abor store the in storchouses ra of New Zealand, al- al people, ir grain and supplies ed above the ground on posts which they call Patakas. On the other side of the world, these Patakas are another illustration of the in- stinet of the human savings from harm, How safe is your I'at which you have tedious work been pu is it earning you a goc of people have made saved race to protect their aka? Has the money from hard and t in a safe place and Wl return? Thousands the First Mortgage Notes issued by Swartzell, Rheem and Hensey Company the iv Patakas and have done so with the comfortable foeling that thek investment funds ave being taken . care of by a company fifty-eight yaars withe of peace of mind. whose record of over out loss assures them AL 6% they should appeal to you as a safe Swattzell, Rhoem EHensey Co., SMorMade TOT15th. Street N e | and profitable way to invest your funda. ‘ | 58 Years Iithout Loss to An Investor ings per share of corporations reporting during the past week follow: Spicer A Standard Stromberg € Westingho steady on the Bourse today, cent rentes, per_cent loan, 87 francs 60 centimes: exchange on London, 124 francs 315 centimes, francs 4274 centimes. silver 5713, Mexican dollars, 4 AMERICAN WOOL GROWERS ARE IN GOOD POSITION Have Opportunity to Put Industry on Best Financial Basis in His- tory, Federal Expert Says. NEW YORK, March 5 (#).—Earn- Corporat 1027, 1926, iop. Telephone American s now have ar opportunity to “pla heir industry ot the best financial basis In hi J F. Walker, marketing specialist of the Department of Agriculture, reported t¢ e department today following a trig the world, undertaken to stud 1 & Eloctri Louis-San Francis'o Gt Railway cannot be fu of limiting grahpical factors.” Australta has more sheep than at time since 1291, and certain sec are carrying mors than is safe, adding that lack of s duction in ion_poln roinr her expanded be- T climatic and geo- *Increased capltallzation fn 1927, PRICES ON PARIS BOURSE. PARIS, March 5 (F).—Prices were ‘Three per 67 francs 75 centimes; five production has increased gr cent years. The dollar was quoted at 25 EARNINGS HAVE SLUMP. arch 5 (#).—Federa Z Co. earned $23.3( e common in 1927 against 183595 a share in 1926, SILVER QUOTATIONS. NEW_YORK. March 5 (7, e \/ First Mortgage Loans In the District of Columbia and Nearby Maryland 3—5—10 Year Terms Special prepayment privileges Prompt Replies 572% Randall H. Hagner & Company Mortgage Loan Correspondent New York Life Insurance Company 1321 Connecticut Avenue Main 9700 Houses Office Buildings Apartments Stores G.>M.-P. MURPHY & CoO. Members New York Stock Exchange ‘Washington Stock Exchange Richmond Stock Exchange Chigaco Stock Exchange New York Curb Market Private Wire cnd Telephone to New York 1508 H Street Connecticut at K Washington, D. C. Main 9600 APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the District of Columbia and adjacent Suburbs of Montgomery and Prince Georges Counties, Md. 5Y2% INTEREST Apply to H. L. RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY of AMERICA 1001 15th Street N.W. Main 8100 IF YOU WISH SATISFACTION IN INVESTING YOUR downs of the where peany at you o o FIRST MORTGAGES represent just such ch opportames F. SAUL CO. Main 2100 s nvestment 15t St N.W THERE 18 NO SUBSTITUTE FOR SAFETY