Evening Star Newspaper, March 8, 1928, Page 14

1 o MELLON PLANNING ~ TWOBONDISSUES Treasury March Financing Consists of Short-Term Certificates. FINANCIAL, Abitibl Powr(5) Adams Kxp (8). Adams Ex pf(5) Adv Rumiley... Adv Rumley pf. Ajax Rubber Alaska Junea. BY EDWARD C. STO :”::: ::mor;\‘l‘l’i' Secretary Mellon announces that the Treasury's March financing will be an offering of two issues of certificates of | Amal Leather pf indebtedness for cash subscription and | Amerada «2)... in exchange for certificates maturing f Am Azricul Chm March 15, the total amount being :m air;('l; ”;i' £560.000.000. Am Nof3). The offering consists ot one series of { Am Boxcn . “Treasury certificates of indebtedness at | Am Br Shuq) &0y 31, per cent, for nine months, maturing | Am B Shoe pf(7 Decem:ber 15, 1928, and the other series | Am Brown Kov at 35, per cent for one vear, maturing | Am Brown Bo ot March 15, 1929. Amount of the nine- | Am (‘lun 2).... month offering is $200,000.000 and | AmCar&Fdv(é) amount of one-year offering is; ::: t:::c.l" t‘u(hfl) 360.000.000 i e ‘ % About $524.000.000 of Treasury cer- tificates becomes payable March 15, to- gether with about $83.000.000 in interest pavments _on the public debt. The | present offering. with tax and other | receipts. will cover the Treasury's cash | :(,z:“ ments until June, Mr. Mellon | el Nowx Government rates reflect a some- | ::" ll.l:'l s 'nx ‘l'l! = what tighter money market. March 15 ;': l.‘-:'m.r"u o maturities of certificates of indebted- il I.Fr“‘c: 'f ness carried 3 per cent for the six-| i ! manth issue and 3'. per cent for the | e one-year issue. New issues are up . #nd 1 of 1 per cent on comparab’e msfsf::n Mellon explained that the 4™ :::";‘\(::’:C; March financing was broken into two | [P AE R EEOE ! fssues to save interest and to increase | December maturities. The expected | L) biuuo pee7). issue to continue the retirement of the | 311 LULNP BELED: third Liberty bond issue, called for re- | (o' g g iar «6) demption on September 15, Was NOl| 5, gy wap6 made at this time because of the offi- |\ kepubiic cial bslief that the market Was NOU| am Saf Raztdls ready to absorb further treasury offer- | A, Seatiux 181 tnzs. | Am Shipbldg «8) Local Stores Have Larger Sales. | 4" ;':';:':{l','.'_ Peoples Drug Stores. Inc.. today Te= | s, Snuft pt «6) ported that sales in January of this|yu, st rays 31 year amounted to $749.938, compared ap Sugar i with $388.248 in the same month IN | 4, Symatra. . The | 4, &Cab) Amal Leather.. Am Tobaccut¥). 415 for the corresponding two months last year, this being an increase of 23.1 per_cent. The Sanitary Grocery Co. Inc. re- ports February sales of $1.743.312, ¢ 338 per cent increase over sales of $1.302,586 for February. 1927. Sa'ss for the first two months of the year were $3.420.809, an increase of 32.3 per cent over the total of $2,585,281 for the same period last year. The preferred stocks of both these : companies are active on the Washing- | ton Stock Exchange, the drug store siock having furnished a mild sensation Guring recent sessions. It first sold on the local board about two years ago around 104. It is now up to 130, a rather surprising gain. In addition to expanding sales, market observers say the chief reason for the advance is the fact that the stock carries warrants with it for the purchase of common stock at 50 As th» common stock is row selling at 69. the difference of 19 points in the purchase price is proving zitractive. Potomac Power Leads Market. Potomac Electric Power 5'; per cent etock featured trading on the local ex- change today. 130 shares in seven trans- | gayuk Cigurs #ctions changing hands at 1071,. i- | Beacon Ul tal Traction came out at 111'; in light § Beecnuut 13 trading. Sand & Gravel sold at 105%, |, ~itinx Bros (2) and 200 shares of*National Mortgage | .igx Rys vf 4 12. & Investment preferred at 5%. V&0 d)... Bank stocks were active. Ten shares | . s nichem Steel of Federal-American National moved at 342, the same number of National litan came out at 404!>. and 10 more at 405's, while 10 shares of American 450. Mergenthaler Linotype opened at 10¢ and closed at 1037,. In the bon4 division Capital Tntflo’nl Am Type pfe?). Am WwaElel) Am Woole . Am Woulen pf.. Ao Zinc b . uee Anacuuda 13)... Archer-Dan (3). Arwourel 17 Armour of LHtA) Armour of 1111 B) Armout 111 pfe7) Asso Ury Gizie) A0 DG 18t 46) ). Atchizon 710 Atch T&S Fert. AtiCoust Lt 10) AUGuUlt & Wi AU Gult& W of. AUl Renuiux 14) Ausun-Nichols. Auto Saes..... Balto & U (6) Bambgr pfi6%) Bank of Am «12) BankofCom(18) Bank of Maut16) Barusdl AbZiy) Blousminxdale Blmiuxdle b, Ace) ik 16). origgs dix Co.. Briush Enpie. Bkiyn Edison (8 Bkiyn Man 14). Bklyn Men uf(6 Brunawick B (3) 8= brought 103", Washington Gas 5s, 1051, Series B Gas 6s, 106',. Potomac Electric Consolidated .u;r ll:p’;; u:l:' Chesapeake & Potomac Tel ne 100% . Further trading in Chapin-Sacks 8 per cent preferred took place in the unlisted department at 104'; and 104. Aetna Agents to Meet Here. ‘ An agency meeting for the agents of | the Washington branch office of the Aetna Life Incurance Co. and its affi- | liated companies will be held here to-! morrow at the Hamilton Hotel. The| entire day will be devoted to discussions | from the uiderwriting and sales point | of view of the many lines written by this large muitiple line company. In the evening, a dinner will be served, at which the principal speaker will be Chester Leasure, associate editor of The Nation's Business, published by the Chamber of Commerce of the United Btates. In addition to the incal agency force, there will be present from Hartford Vice President Rawdon W. Myers, Secretary C G. Hallowell, Secretary R. L. Catlin and several others. Pennsylvania Makes Unusual Showing. With net income for 1927 of $68,160.- 296 the Pennsylvania Railroad Co. es- t2blishd a new high record. This was 0 increase of $592.337 over the 1926 o1l of $67.567.952 the record up to that time, Net income was equal to 1365 per cent on capital stock, the Jzrgest retumn earmed in recent times snd comparing with 13.53 per cent in 1926, This showing in net income is all the | more noteworthy when it is considered | ¢ t wross revenues fell off during the year by the substantial amount of $44,- 065426, Uraling $664.851,023. Against | ¢ Ihis decrease. operating expenses were reduced by 339691916 10 $510,668.662 ) that net rajlwey operating incom of $103977393 was only $2455,454 be- | Cnryaier Cor (3) low that of 1926 Chrysier pfA(8) Young Denies Credit Is Misused. | City Slores 18), Bt Gov. Roy A. Young of the Pederal | Coaatrvac o) Reserve bueia. wid the Benste DANKING | Goee .- 204 currency commitier tiat mnn»:.E,",:“"' ',..',',',' #n0d commerce were not denied credit | o, yuer & tron brcause of the credit demands of the | Goio oy 1at (4) Security market: that brokers 1osns 10| CoiGag & 1 16) me part were based on legitimat eredit demands, and that there was 0o | o evidence (hal the credit of e Reserie | Comren o635 £ysLem was beng Used 101 sPectlation. | Com tny Tr 3 6 Whether he tnought hrokers loans o 6% high, Mr Young refused 1o indicate but he 416 specifically recommend | (o #gainst eny legislation W deal with the bjert Devate Subjel Announced Todsy. | i Jumes A Soper, chairman of the| ConEikeInie% eommitiee arTunging 1or the debate be- | T08 EEISEE . fween the Ricnmong wnd Eswex County | L0000 “ chapters of tne Americsn Institute of | SHRSE 08 S0 Banking, U be held st the Raleigh | Gonsbibes orby March 16, announced todsy that the | ConutCURe i subjeet would be, “Resolved. That ull | oUsel Resiilers eities should agopt & CILy MENBEET LYDe | S yoying 1 of government & The Genate will be open U0 the w'r]‘ Dl Jie sna 1he commities 15 sendin 1l | i i 1 1 e Bucyruscv «2 Buft&susy vt 4 Burnus BrosAs) Burns Biow (8). Busn fer de11). Bulte Cop & %. .. BuileasuperiZ) Butterick Co . Butterick Co r tyer & Co. . 1 Calif Petm «1).. Callahay Zine L& As Calu & Hecla 12) e Tl entin 161 it Alloy (2).. Cen Ry NJ (112) Century Rib M. . ot 1D Hke18) hen & UG 1) &V Corpn 13) hi & Kast 111 pf ChIM&BLY pling KB full pd . &AW e | RI&Tac (6), Chi Yel Cabid).. Childe (2.49)..., ChileCoi1zig). . invitetions 10 all members of the inglon Chepter. It is ihe first affair of | the Kind with which the local chapter ks been connected, the entertainment of the oebaiers elso falling upon the Vorl commiviee Heard in ¥Financial Distriet 1t vus definiely snnoupiced st bunkers Juncheon yesterday that the | Jext snnual convention of the Iistricy | Bunkers' Association will take place b Montauk Point. Long Ielsnd. in June The frst Netional Co. of BalUmore oo yiuon Chem.,, M offering locully @ limited amount of | (g & pun 1), , Y per cent preferred stock, which & pay- | el L& W (11). ing reguler dividends, snd siso some of the company’s common sock. G, W. Prati is the Washinglon representative, The West Virginia Bankers' Associs- i has selected White Bulphur Bpring the place for jia ennusd conven- 10 he held on Jurie 14 and 15, Carn ¥ 1) [ o0 dovnr 1140, Cary Ine (g, ".. uinesiee) the | w0 uf b Comuany ., day Vig 14) avoed it 18117) Diamond # (19) Fhodue b Dodge pf 11 Abrahmastraus. 103 Abr&Stras 1%p1 111 ad. n (5) Bupm) DROG Werpt... Detroit ka (8).., evoe & 113 40) Ch e 18 4 [ Open Hizh 7% 77 103 1 260 [y 13% 40% 2 8 181 182 ¥, 260 93 134 40t 124 1214 Allis Chalm «6). 119% 119% 119 1"t 9 S0% 1y 69 201 19 124 15 1 b7 5 0% Nl 105 105 994 Tty 5 7 N AmChie pr pfe7) 110% 110% 1104 110% [ERE B4ty 181 . Y 2APP(T. Sily 88% Bily 61 6% 1 1 1 1 i s Ry ke 145t nus o34 bty a4 0 112 2ty 4i ! 1w 1 62 6% ool 60k 1 20 142 n7 21y ol o & Teiy) 180 180L 179 170 170% Am TobaccoBi¥) 17lts 171% 170 1705 113% 113 odly odly 23 23w 57T bi 16% 17 il % o4t 05 on oY w0l 4% law o T8l T8 42e 424 105 109 115 11> s 40 138l 173l Bl itte 170% 13l 42l 44l 454 o 10z 108 5 e ¥a B moan 108'y 1095 o1z ula 2653 65y 56 607 26 6l bi% o8 a5 Beth St of 17).. 119% 1194 119% 119 3 % B ) 109% 1094 108 10wy 13 ws boly bly 16544 1653 pY e 225 63 »87a E In% 2 » 37 it Bl Bl ¥3 m e 150 . s 6l 105 o3 10% 1 Boty YTw 4% 208 r Clde statd) 108% 1055 1050 103% | “o0'e ot 30 A0 300 300 12% 128 B Tih 6 e lo% 600 605 1874 1874 3 i3 tde Bas 1, e 109% 10 o7 43% dism P ™ W0 bl e s 6% a8 He 'n Wil Wit Linve 1870 Pl rdty M Tit o am 10% Wit 20l GEE pt ALB) 1074 107% 10 245, i 25 9t 1740 1765 2t Wy Bla Bim [ [ETR T 1025 102 78 U4 2% 0 4 B60y n 10 60h 9z 146% 1467, “b 66 L 26'y . 100 0 Y% I e 166 1861 134% 1840 b3y 118 bl [TCRITY *49% 100 178 0 W 1 1o 115 biste [ : T.HE‘ EVENIN;G -Sv’l‘AR. 'W:.\S}iIN(;)TO*. D. C. THURSDAY. MARCH 8, 1928 Received by Private Wire Direct to The Star Office. Low Close. 6% 97 103 103 110% 110 260 260 98 98 13 13% 40 407 2! 3 1817 182 M Niag Fpd (18), Norfolk South. . NorAm blo% stk North Am of (3) NorAm Kd of(7) North Pae (5).. Nor Pac cfaib). Northwn Tel (3) Nunnally (50¢). Ol Well Sup... 01l Well S pf... Omnibus. ... Omnibus pf (8). Orpheum Cireuit Qus Elevatri+7) Otis Klev pf (6). Ot St Otia S Outlet Co (4)... wens Rot 1ev4) Owens Bpf(7).. Pacific Coast. Pacing Gas o3 Dome Mines (1). DuPont deN(10) Kastman (18). Haton Axie «2). Kisenlohr & Rro. Elec Auto L(8), Klectrio Boat Kleo Powr & Lt. Klea PRL! ut (7) Klee Refrigeratn ec Stor Bates) Em-Brantgm(A) Knd-John (6)... Engineers Pub'§ Enznrs PS of (1) Kouir Bl (53] Erte R R. Erieiatof..... Eureks V (+14), FairbankMpf(7) K Lactent a0) Fed Mot T (80e) 21, | K10 Phoe Inses). 2 irst 1%) Fisk Rubber. ... Fleischmann(3). Foundatton Co. . Fox Film A «4), Freeport £1%).. Gabriet €hub A, rdner Motol Gen Am Tnked). Gen Asphalt.... n Asph uf (5). n Cable At4), Gen Cizars (4). n Elec 115). . nklec spi&ie) n GusA o1l ) Gen Gas pf A(7) n Gas of B(T) n Motors «5). n Mot of 17).. Gen Vutdr Ad(2) Gen Outdr Ad(4) Gen Ry sz (b). (ien Refrac «3). Gillette Raz (5). nbel Bros. ... Gimbl Br of (7). Gl.dden Co 124% 119% 1Y 69 124 1084 A Pan-Am Petrolm Pan-Am Pet (B). Pan-Am West B. hund = cam(i8) . Vark & Tiford. . Park Utsh (80c) 80 80 10415 1045 ECRNE 5 Thl 13 62 179 U4 Uh 107 108 aTia Gtk B2 B 3 L3t 61y 180 Peeriexs Motot . 'enick & Ford. . ¥ 644 0 DIx Cmite2) Pere Marg (78). Pere M prior (5) Philato8 % pfi3) Phila& RCI . Phila& RC& 1 cfs. Philip Morris. .. Philiipa Pet 1 ierce O Pierce Petrol Prllsbury «1 60). Pillsbry pti6l) Pl Coal L. L. Pitts St pf (7). P& W Vai6). roxtum (). . Pressed Stl Car. P’rod & Refin 4l i 1 20 20 Tl T3 141t 141 17 6l o2 6l el 41 41 105 112 Tl 172 b 132 10 Gothm Hos Gothn new 12, !Gr-nam-l'nn.. v| Granhy Con Min { Gre Nortn of (5) Gt Nor vf efscs) Nor O (11g) NJ pf (8). Pub SEXG uf(R) Puliman Co (4). Punta Ateg Sug. Pure 01} Purity BakA(3). Purity Bak B (2 PurityBak pf(7) Radio Corp of A. Real Silk Hos. .. Reminztn Kand. Rem-Rd 18t(7). Rem-Rd 2d (8). Ieo Mot (11.20) Rew i1 & SU Reynolds Spn; KeynldxTohB(5) Richfield OIl (1). Rossia ins (§) ., Roval Da3 13%. St Jos Lead «73) SUL&Sun ¥ 18), 3 6l o0 0 170% 170% | Guantanamo Sug Guan Sug pfi8). GuM&NVIS). o4l | Gulr States Stee) | Guif Sta 1at(7). ™| Hacknsk Wi1%) Hanna Istpt .. Hartman A (2. 29 | tartmn Ba1.20). 59 | Hershey Corv. .. L U0 | Hershey uf (4). Wi U8 Houston il .. J2 8 Howe Sound (4) S T Hua Man 2. ¢ 32% 1 Hud Man pf (5). 10 109 5 4yqs0n Mot t5) 15 | Huvo Mot et 40) 39 40 (52 183 | LHinois Cen (2). S 3| nden Ol A1), 170 1711y | Indian Refnin 2 ndian Kefy ctfs © inxgersoll Rd(th) vz Inid SU (p16%). 5> o |imsviration S'n %ia | interburoRapTr | tncouts feubi 1) 110 110% § i Comeut (4). . 1095 109% | int Colu Enk 12) s ©12 |int Harv (16)... 56,13 | intdlten blis 20) 610 | int Mer Mar ut. =3l ' iue Nicke: 42) 137% 137% | 1nter Nick pf 4} Paverz40) 9% | tut Paver of (1) Zlis | ntl Siiver. .. 26% | Inti Siiver ris 60'3 | tut Te1 & el orr ] sewel res ... Johns-Maruan(3) Jones & Luu 17) w3 w3 | Jordan Motor 631y 68y | KCP & L Ist (7). 165 165 | hun City South. P Rayser g 4)... st | Kayser (rights). helly Spiiug . Reis Haves 12). 113% 113 oAl b7 7 164 16 T 3 o4ia 58 w0 Seab Air L vt ears K inzih). Seueca Copper., . Shattuek ¥ G 12) Kl 3 Sinclair uf (8 Shelly U1l ¢2). ., Suwider Packr Co South Calif 4. . o Por Rie 812) South Por pl(8) South Duiries A. South Lairies 8. South Pa Suuthern ) South Ry uf (5). Spear & Co, | Suicer Mrg. 12 |SdG & E3%) Lot | St 3l 3. 4515 | Standy Cai(z4) bt 'smuu‘.\.hn\n . | St OHNY Std Plate GI | Std i Gia Stand Tob (1)... Stertk Prutcrd). Stewart-War (8) Strom Car (2).. Studebaker (8). Sun Vil 1n1) En 116% o2ty LI - 208 24% 106 34 st =7 6% Bl LT blu | 93 93 lam losa | 10 1ok | 104 494 14 Yo hresge Loyt 8., Kress (8 H) (1). Kroser Groeiel) Laclede G pf (5) Lako LI Cibe) . Lambert (1513). Lew Tite & Hub. Lehn & Fink:3). LifeSav ¢l 60). Lig & Myers(15) Lik&MyersB(1b) Lima Loco (4).. Lig Ci ‘ ). lLoew's Ine (13). Loft...coesace Long-Bell (A).. Looxe Wili) 60) Loriliara Co, .. Lorillard pf (7). 6 108 utogh (8uc). upvet 1) lTezas Corpn (3) 1ex Gull Sul «4) ‘Tex & Vacine Tex Pac C & OIl. Toa Lana Tratn 69 1 | 2iwy { 5% 1 1% % 95 | 204 2% G 634 2070 208" | w 1% Poird Avenue. .. lidewater ANUI . 1 WASONDE(R) Tidewater O1] 80 Piiken (18 ..., Tobae Prod «m). 50 EQ 300 120w Biity 62'y LBy 734 “ 154 605 60y Inide 1874 3 k£l haty 104 22'% 2a% o 0 P Bty 1047 109 47 4 % o 14 60 00 304 12 “ Gin | Mack Truck () lad Bg Gr (1) Magia Cop (3). Mallison & Co. . Mailison pf 7)., San K1 m g (45) Man K1 dup (6) Man Shirt (2) Maracaibo U1l Mariaug ON . ... Mariu-RockiZ), Mariin Parry. .. { Matnieson Al May Dot 814y, Maytag (13). Metrot ufs Mexican Hea Union P'ag «10). Un Pacine pfia) UnitedBin(1.60), Uta Dry Utd Bruit UBCHIY U B Hoffman (4) M Ak Leather A.. Heuity 14).. U8 Rubler . UNKub et (8), 147 u us us us i whte Vishiy 137 Pl B2 K T T Ve W . 1074 200 24 YLy 90, Vanadium (14), Van ltuslte. ... Vick Chem (4)., v Tal P b4 ity 106 BIBLIPEESM 11(4) Mo hat & les,. Mo K&Tes i) ° or et (1), roChem. , Va-Car Ch W% pt Vivadou (hi0). . Vivaudon of (1) Vulcan DetintA) Victor v 1z Wabuan err Wabanh pf (A (b e 1240 1380 ] 1o 1025 | gl a Muriay Corp. .. % Naah Mot «1b's) Nat Acmie (min), Nat Ballan Hesn NatisHe Net Biscult (17) Aul Canh IL1AD Natt Dairy (8 Dar INat Liwtd] W Paun bl pre) 0 K of o1 PP ih),. v L4 1461y w6 e i Nat Enam pf (1) Nat Vowla (1) Nat uakatorid) Nulatao vty Nt ity Mes 2., Nat Hupply (6) Nat gurely 119) Nevadas Ciiig), NY Al B (B ) o White ockivd), White Hew Maeh Willys-(hverinna Willys:On pf (1) Wilson & Co. Wilson ¢ AT% BT 1o 158 [ETDNE bt b 178 114 9% 00 1610y 128 108 180 G e NY & Hurlomib) NYNHEHa (1) NY NUHEN ufiT) 114 114 |NY Ont ke Wn, . 2% s 1 UNY MiateRve. . 8 PR I8 NY Biaam pf (8) 101 69y 69's NY Simpl A (1) 112y Wrikley W 1a4 Yale&Town i th) w Fruo, ., Youngein Bnid) SouRyM&Ucls ¢ " NEW YORK STOCK EXCHANGE a3 61% B54% 1030 a4y "2 50t 1214 6% 1 120 116% e B4, 104 X R 0% 1100 43y 13+ 108 1744 110 98 6 28 L4t b9te 9 141 40 1 1 Nista Bl 1ot e 108 Bty b4 (e 4l Ny a7y [2N 20 e Wilty 100t 100 100 Bty 1o #ty iy Adn e W ! Low. Close. | 28 at 614 Ay 108 944 CIEN B0 8 28 43 61 b54% 03 94% Min 500 24N 1084 13 1l 83 86 A3 116 204 19075 i 1001 100ty e 1o N ] # ) e Ay 0ty (TN (LN R W A IHLy IRy " " 'Ild KEEY mw PP LEUE YA [ | had been abandoned. Youngstown sold FRANESS SHOUN ONSTOCK MARSE Less Irregularity — Utilities Are Active and Strong. Specialties Rise. BY GEORGE T. HUGHES. - Special Dispatch to The St NEW YORK, March 8.—Although there was still irregularity, today's stock market presented a more confident ap- pearance. Trading was more orderly and firmness was the rule. Concern over what the loan statement might reveal in the way of an increase this week was offset by the character of the testimony given by the Federal Reserve authorities at Washington, General Motors made its now ex- pected new high soon after the open- ing. when it sold above 151. This in itself served to reassure the doubters. It also discouraged miscellancous shorts selling. General Motors came off from its early top later in the morning, but other stocks pushed ahead. Hadson was the leader of the independent mo- tors, at a new high for the year just below 91. Utilities Are Strong. The utilities were active and strong again, with the lower-priced issues gaining the larger following. American \ Power and Light made a new high for the year and so did Utilities Power and i Light “A" Speculation for the rise in Montana Power was resumed and Public Service of New Jersey made up | the dividend which came off the price today. ~Consolidated Gas was strong. Federal Light and Traction was taken up 51;"" in the day, gaining 2 points | There was more uncertainty in the | steel list. United States Steel opened | higher and held a part of the advance. On the other hand. Youngstown Sheet | & Tube was weak, following announce- | | ment that the merger with Inland Steel | | off nearly 3 points. Inland went up as | | much as Youngstown went down.* Specialties Score Gains. Among the industrial specialties what appeared to be a well timed drive against the shorts ran the price of American Linseed up sharply. Greene Cananea and Cluett Peabody were somewhat higher.: So were Interna- tional Harvester and Rossia Insurance. Houston Oil made a quick gain of over | 4 points. There were still one or two | weak spots. but they were not as con- | spicuous as on Wednesday. The rub- | ber stocks moved uncertainly and some | selling appeared in International Paper. The feature of the rails was the buy- ing in the new St. Paul stocks, both the common and preferred going to new | highs ‘since listing. Highly optimistic | predictions are made as to the earnings of St. Paul during the coming year Hudson & Manhattan was taken at | rising prices. reviving the often denfed | eport of buying on account of the ! Pennsylvania. Sinclair Oll stood out easily as the leader of the low-priced ! ofls. Money renewed at 414 per cent, ' 1 unchanged. NEW YORK MARKETS. | NEW_YORK. March 8 ) —Flour | firm: Spring_patents. 7.45a7.90:" soft | Winter straights, 6.85a7.10: hard Win- | ter straights, 7.05a7.50. Rye steady: | No. 2 Western. 1.32'a f.ob. Now York | and 1307 cif export. Ta'low firm: | special. loose, 81p: extra, 8%. Other articles unchanged | COTTON GOODS ACTIVE. NEW YORK, March 8 (Special).— | Cotton goods markets were moderatel active today as prices remained u changed. Print cloths were quoted at 7% cents for 64x60s, and 8% cents for 68x72s. Raw si'ks were firm in a moderately active market. ! DIVIDEND BOOST PLANNED. HAMBURG. Germany, March 8 (). | —The board of directors of the Ham- | burg American Line lesterday decided to propose to the g=neral meeting of the corporation on April 2 a dividend of 8 per cent, as compared with 6 per cent | in previous years, | | | | Wall Street Briefs CHRYSLER CORPORATION.—The | Chrysler Corporation earned $6.55 a share on the common stock in 1927, against $5.07 a share in 1926, Net profit rose to $19.484,880 from $15.448, | 586. The regular quarterly dividend nfl 75 cents on the common was declared Regular quarterly dividends of $2 on the class “A" preferred were declared for 1928, N. F. Brady was elected a d!- rector to succeed the late J. C. Brady. PERE MARQUETTE.—Frank Alfred, | president of the Pere Marquette, sa gross revenues for February will b about 000 less than the $3.324,047 for February, 1927, due to a decrease in automobile shipments and coal. Owing | to smaller gross and an increase In paytolls of avout $50.000, he expected surplus for the month, after charges to be somewhat under the $582,248 for February last year. S. H. KRESS & C bruary sals of 8 H. Kress & Co. rose to $4,174.622 from $3,534 634 in February last year, a gain of 181 per cent | OTIS S1EEL CO.—Net profits of Otis Steel for 1927 was $1,382,880, compared | with $1,907.314 in 1926 | BUILDING PERMITS. —Bradstreet's | reports a total value of $246.912.218 for new bullding permits in February at 142 cities, compared with $185,321 400 in January and 277,838 in Febru- | ary Inst year SOUTH AMERICAN POWER CO South American_Power Co., subsidiary of American & Forelgn Power Co., has acquired control of South Brasilian Railways Co, Ltd., from International Light & Power Co.. Ltd. South Brazilan Ratlways owns and power and Hght and street raflway sys- tems in Curltybn, capital of Parana, Brazil. AMERICAN WATER WORKS & | ELECTRIC.-Net fncome of Ameriean Water Works & Electrie Co, for the | year ended Janunry 31 was 84,752,504, | ngainst §4,680,807 the year before. ROYAL BAKING POWDER €O« Royal Baking Powder Co. announces a prowram of extensive development of | hustness, under divection of Filsmger, newly appointed head of its forelgn sales department e will _assume the dutles of ¥ B, Pohndorff, who remains as vice presi- dent while relinguishing his connection with ckporta NOY O Marker m 1 I e Atave el o the decbitinig sl dive 1y Sules o a6t o o LA a0 Ny vdend rates aro e v " S ol i Partly 0 anarvn ke b e bk o' soek, operatos eleetrle | 800|—L. LINES wDICATE MONTHLY HIGH AND LOW PRICE OF OLD STOCK INDICATED TERMS OF NEW PER SHARE ANALYSIS. What In Huck of Each Share, November 1927, Per share | grose assets . o soan as current oblizations t aweta for capital clde B rien be given matter of atock.) TIE PLATES ARE LOWER. NEW YORK, March 8 (#).—Tie plates are being quoted in the Pitts- burgh district at $43 per net ton, a re- duction of $2 a ton. ATLANTIC REFINING. NEW YORK, March 8 (#).—Atlantic Refining Co. earned $1.83 a share or the common stock in 1927, against $11.24 in 1926. " MONEY TO LOAN WM. T. BALLARD ) K S AW Fetablished 1887 DAVID J. HOWELL & SON Engineers Union Trust Building Washington, D. C. Money Available for FIRST DEED OF TRUST LOANS 6’ Reasonable Commission Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. Listed and Unlisted Securities Bought, Scld & Quoted (Trading Department) C. E. Moran & Co. Moran Building 1716 H St. N.W. Main 3528 R_eal Estate Loans On Improved Property 5"2% Interest Satisfactory Terms WEAVER BRO | REALTORS 809 15th St. Main 9486 \ STATEMENT l\'b I‘;:‘}’: CONDITION The Importers & Exporters Insurance Co. of New York 1097 an re My Corde 1N On tha et v of Dec il eder the District of ¢ T and Aug amended June G0 1002 Caniial stk <1000 000 (0 Capital » waid i do easty ASSETS Cash In hank Real eatate Stowks ad vimarket AN Total assets SOA B0 AT LIARILITIRS SN0 00 LAT0.NID 3 Nalarie: % M o0 NONANA LT AT ot Canital stk Nob anrplus Patal Habilities o transacted g (he voar ihile fire wind allied [ A et ey SEUR T AL 00 Vear 1 LOAA LAY Leveived ducing NN AN 0 | | Presutent RICE Nocretary bed AL AWOI 1 befaie e Ehis W Fabiay N ARADIE 1000 000 00 | § FINANCIAEL, Burt’s Caring for feet is better than curing them. UR requirements are so ex- acting that only a selective few makers of men’s shoes, here and abroad, can qualify for rep- resentation in our stock. $8.00 to $18.00 * Featuring Banister at $15; English Shoes at $18. Exclusive patterns in newest Street and Sports Hose SArthur Burt Shoe Co. 1343 F Street G. 'M.-P. MURPHY & CoO. Members | New York Stock Exchange Washington Stock Exchange Richmond Stock Exchange Chicago Stock Exchange New York Curb Market Copy 6f our “Fortwghtly Beview” furnished on request 1508 H Street Connecticut at K Washington, D. C. Main 9600 Privete Wire and Telephone to Newr York Pulling the Serpent’s Tooth E HAVE all been taught the proverb, *“How sharper than the ser- pent’s tooth it is to have a thankless child.” Yet how many persons, at one time or anothei, have privately reproached their parents for not having made the most of their financial opportunities. But our children may, in time, think the same reproaches about us. It is lamentable but true that we do not become tolerant of the mistakes and omissions of others until we have made a good many mistakes and omissions of our own. The young, ardent and ambitious find it difficult to be grateful for mere existence and board and lodging. But the task of providing adequately for our chil- dren is, after all, a comparatively easy one. A few ‘bonds acquired now by a few easy payments will, with interest and maturing principal reinvested, smount to a tidy fortune by the time the children are grown. Werite to us—or come to see us—for information about our specialized service in bonds only J-A . Iglchart & Co. Investment Banhers 719 FIFTEENTH ST., WASHINGTON, D. C. BALTIMORE. MD. WILKES.BARRE P ‘WILMINGTON. DEL. CLARKSBURG, W. VA, STATEMENT OF THE CONDITION OF THE State Assurance Co., Ltd. STATEMENT ‘l‘"!' rl;‘“rfl CONDITION Commercial Insurance Liverpool, England Company of Newark, New Jersey ember 10 4y e f o N Colimiteg S e A Augist 18 IBEL | Amernied 000 00 ¢ o | Capital depasit P ook Canital stock pant i 200 000 0 3 oo oy N iy oftice N bank Stocke wnd Value Premiu = otyae s EURCIEN boudts " vinarket p LRI | o neoblecied and R narls of axents Intermst dua and accimied Al ather e W DALY Toases per sehedule K W 3098 TN W DU N e RN i Total assets 4 3 LUABILITIRS, W clatne av teanired by faw renls expenses tanes asets ST e A v LIARILITIES 1IN Net nomant claims 3 L0 A Reserva an wisiied s Sehedute #1 rearied Haatone Beokeraes et By v wive K asaurt it Winconsin tate retuctions Sl daatons Renkerade | tabiitio Sutabile e CIVE Commetian wid | Assiinet e A ing the v W AU TN AGL 00 | Aha v ated dirine Ve v o ¥ ARLIIAT | Wlue ©aa wl during ihe fa 1OTT A0 W | L Ve the Vear aaveed Faitat Stat Sutworihed At swain b he ALy W Bebeuary Mo PORTTRITRTY a Maviex B it 1 0 ENN B ot n LI o » Mg e vea ‘. ‘n?n- ALERIN i AR oA New | S Now Vork CSth Bay of Petwuars % BORACE SRR Vics I8 NWINRLE ; Ned AW v \ A Pubtie New York ¢ . No daslol vt Narch S 1N JULES C. RICKER, President 8 Commission | ASeal ) GORDBON | Notary Bub FRANK L. PECKHAM, Vice President IMOGENE B. McGARRAGHY, Secretary-Treasurer, JULES 1415 K Street N.W. Mombere :..dm Club of Waskingtan C. RICKER, Inc. General Agents i Main 5966