Evening Star Newspaper, March 8, 1928, Page 15

FINANCIAL. Unli'tf..'! 'S‘t?c'ks";& B nds 1st Trust Loans SMITH-HENDERSON & co. sy, ot © i} " D. C. and Montg: AL outhern Dide, Moln 0208 Large Construction Projects FRED T. NESBIT 1010 Vermont Ave. M. 9392 & STAR, WASHINGTON, D. C. THURSDAY, MARCH 38, 1928 PUU”RY DEMAND M. & M. T. CO. EARNINGS |YOUNGSTOWN-INLAND FINANCIAT HEWLFE SHONN | oo BONDS 7o e PLACED.AT:$5.50 A SHARE Special Dispatch to Tho Star. BALTIMORE, March 8.—Earnings of the Merchants & Miners Transportation Co. in 1927 are estimated in the finan- cial district at approximately $5.50 a STEEL MERGER OFF Failure of Negotiations Comes Mortgage Money Loaned At Low Interest Rates 2:5b, IN NARKET “Sales. Ji Low. U S Rub ist rf bs.. 50 9 1 Quotations to-2:35 p.n.—Final Quotations in 5:30 Editio Investment Trusts, Banks UNITED STATES. o :""- (Sales are In $1.000.) and Insurance Companies Buy in Various Groups. BY CHARLES F. SPEARE. Special Dispateh to The Star NEW YORK, March 8.—Both in the speculative issues' and in the highest grades of bonds there were signs of new life-today. Interests that had been out of the market for some weeks have beeri taking positions and forming new accounts on the basis that bonds have been liquidated and that the period of dullness is over. This suggests the belief in easier money rates which was indicated in the sterms of the Treasury financing an- nounced this morning. These provide for a nine months’ 3!4 per cent cer- tificate and a 12 months’ issue at 3% per cent, which follows the high prices .recently paid for the obligations of New York City and of New York State. Investment Trusts Buyers. The investment trusts have been ac- tive buvers recently, going into the foreign market rather extensively. This shows i the manner in which South American _issues especially have been bid up. They were all strong tod: ‘;oubl_\' Chlk‘:\lll) :x\rd“ P‘;‘r;ll\llllé 6‘; r‘.:‘enl ave held well behind the ey oblications of Argentina and UrUguaY. i Novenmanen b There have also been orders from thw | duny 5igs. ... same sources on a substantial scale 181 Czeono 7348 rets. Japanese government and mUuniCipal® i Czecno 8s 1951. and Italian city issues. A NEW INVES'™ Czecho 8s 52. ... .. ‘ment trust debenture issue amountin, Panish Munic 8s B to $7.500.000, under the auspices of one | penmurk 6s. . of the leading banking houses of the | Duteh East | s country, will be announced shortl Duteh Bast | Banks and insurance companies were | Finiand sf 6s 4 £ood buyers again today of legal rail- | Fintand 7s. road bonds and of public utilities. Framerican 7 % | ¥rench 1s.. S. A. L. Issues Hesitate. s S Secavoard Air Line issues hestitated | grench 8s. . today after an average recovery of 10! German EI'P §%s. points in the active members of the | German7s..... group. There is still a good deal of scattered liquidation in them by banks in various parts of the country, who have been disturbed by their action.re- Considerable strength was ex- Lib3%e... 132 Libistays 18 Lib3days 14l Lib4th ae 24 US 3% ¢3.4 85 US34s 10 USesi1d44 35 USiyssz 20 FOR | Argentine Ss..... Argentine 63 Ucts9 Argentine 63 A. Argentine 6s 13, Australia 68 1955, . Austraiia 6s 1957, Austria 78 Hank ot Chile 6%s telgtum 6. Belzium 6438, Belgtum 78 1955, Belgium 78 1956 Belglum 7% Belgium 8s. Bolivia 8a. . Bordeaux 6s. Hrazil 64 Erazil 7 Brazil 8s. Bremen. State 7 Luenos Atres 78 57 Buencs Aires 7s 68 | Canada 85 1931..... | Canaaa bs 1952 | Canuda 634s 1929 | Chile Ts 1943, .. Chile8s 1941.., Chile §s 1946 Chinese Gov Ry §: Christiania 6s. . Con PPow Japan 7s. i . the,low of the week; Western Maryland 4s. ‘Rock Island 4!ss, Chicago-Terre Haute adjustment 5s and by the new St. Paul issues. There was a very heaky turnover in the last named, with the adjustments above 64 and the gen- eral 5s around 97. . o ‘There was not so much pressure t0-1 v ., iy day the United States RUbber | yomevries 8s or 7i:s, although some of the UN-; Netherlands 6s 54, listed 6125 were well under P&T.| Netherlands &s 72. The metal company 7s and the SUBAT, New So Wales '57s. Adantic Gulfi New So Wales ‘38s. points. | Nora 6igs. . Norway 5. Norway 6s 1943 Norway 6s 1944 Norway 6s 1952 Orient Dev deb 6s. Paris-Ly-Med 6 P, J Jergens U M 65 47. { Lyon 6s. . i sntd Slexico 48 10 wsnid. Mexico §s asntd catgs or om Liberty bon T Wéshington Stock Exchange! Sales. i Capital Traction 55—8$500 at 103 Washington Gas 55—$500 at 105%. Capital Traction Co.—10 at 111%, § l(l % 5 tomae Electric 518 ptd—3 at 1073, | 7:at 107%. 20 at 107%, 20 at 1073 15 at 10%%, 5 lldo'l", 60 at 107 -American Na Porto Aleg: Pr ‘Khineibe Un 1 Rio de Jan ¥ tional K10 Gr Do Sul Nathonai Mefropoliian_ Bank—10 ui S Combidia Sand & Gravel pla—11 st Srgeninaler Linotype—S at 104, 10 at| Nathmal M. & Inv, pA—100 at 5%, 100 at 5%. After Call. National Metropolitan Bank—10 at| 40574 Tokio 5%81961... Utd Kingm 65 37 ashington Gas 6s B—$200 at 106;. Utd Steani Copen 62 & D e cons 553,000t | Uruguay ¥ 103%, $5.000 at 103%. | Yokohama C. & P. Telephone 55—$2.000 at 100% .| Security & Trust Co—5 at| 450. | Am Agrichew 1ms Gas 55—8500 at 105%5. | AmiSmit& R 1stes Unlisted it Am Smit & I & Departmen Ain Sugar Rer & apin & Sacks 8% pId.—10 at 104, | Am T & T ciur 48 10 at 104 _Am::"_fi’l‘cluil.. Money—Call Joans ™ AT & T f bn. i B s f 3% !Am Tel & Tet b %! id and Asked Prices. | Am Water Wks bs. BONDS. | Am Writ Paper 6s. PUBLIC UTILITY American 450, 5 at ‘Washington | Anaconaa 1st 6 Anacunds cv db 7 Audes Copper 7s. .. Armour&Co 414839 ! Armour Del 5% usdall 65 1340, , Tel Fa b3 C'ty & Suburben Georsetown Gar 15t % I BethienemSt pmbs | Begh Steel f bs... Belh Stecl 64w bd. Beih Steeiés...... | Bush Term Bidg bs Chile Coppetsts Col Gas&kl deb 3 : R D c 4[‘.(':- .ardwen Perk Hetsi 6% STOCKS. PUELIC UTILITY 5 179 i 14, Fisk Hubber . | Gen Mot Ac Cor 65, | Gooarich P | Goodyear b rcts Humble Vil bs. . ... Humble O & R b%s « | Hlinuis Beil 18t by, | Ant Mer Mariue 6, Int Vaper bs 47 | 1nter Paper fa sl int Tel&Telox 4% 8 J Kayser & Coblhs Kan Clly P& L bs. Kan G & K1 6 | Kelly-Byr Laucleds o luciede G b [ kg & Mye ¢ ¥ I b o £oumarcie o Wailooal Bk of Wasiinu THUST COMPANIES Smer, Becnrity & Trass o, 4 Camsiwrial Tr H archants i 3 Wasinguss 1sa0 & Trae | b6 SAVINGS BANES ik of Betbeste P B urity Sevivse & Com Seventh Street Vijted Stster Wb | Mont Fawer aeb b | Morstio 1et a4 Nat Tub iet bs N Eniun be 44, NYTel4hs..,... MY Tel6s 4 Y Terbway. ] o Nor Onto Tr & L s a9 Pacing Gos & K) ba s [ 1ae &1 tn FIRE INSURASNCE Eorrorsss livinen's ativnel U € oumiis e AL e LV s o Cone. Titie uld WIS R | Fraramount 6s 1947 i nile Cobe 61 w ) W Sales. Hizh Argentine 5s Su 63. MISCELLANEOUS. | Mout Fower bs 43, Newkinglanad Tel b NYGELH&EPGS Low, i85 10116 101 14 10114 10228 10223 10223 100 15 100 13 100 14 102 27 10318 102 28 10228 0 107 25 107 25 11014 11014 110 14 11514 11514 11514 EIGN. £ 100% 100% 10 16 100t 100 1303 T 100% 100% 1003 8 100% 100% 100% 82 9% 97w 98 0 97 97% 9T 3 104% 105% 103% 19 98 9T 8N 6 101'% 100% 100% Tl 107% 9 107% 107% 1077 1L 106% 106% 106% 3 1154 115 115% 3110 110 110 9 105% 105% 105% 1101 101 101 119 98 974 984 3 1007 100% 1007 | 3 1104 110% 110% 11 102% 102 102% 38 100t 100% 100% 6 100% 100% 100% 1 1017 1017 101% 5107 107 107 3 101% 101 101y 2102 102 102 10 111 1107 111 10 110% 1104 110% 5 28% 8% 284 1014 101% Y9y 99 97 4 1005 100% 100% 24 103 103 103 5 105% 105 1054 6 1% 111 111 5 1w 111% 111% 2 1104 110% 110% 91064 105% 105% 1 104% 104% 1044 104% 104% 104% 9% UST. u9%, 3 100% 100% 100% L 1084 108% 1084 T2 107% 107 10T 17 116 115% 116 L 10% 110% 1100 100 101 5 104% 104'% 104 16 98l Y8l 9Nty 5 100k 100 100% 1 103 L 106% 106% 1064 1014 101t 1014 1 2 102% 1025 102% 2 106% 105 106% 42 %% 95 uow 4 5% Y5 954 9 102% 102% 1024 6 1014 101 101 22 102% 102% 102% 50 1023% 10215 102 8 1024 102 102 4 1004 100 100% | 19 99t 99l 993 15 104 103% 103 2% 104% 103 104 + 345 93h Y2wo uik 1104 104 104 26 107% 107% 107% 5 107% 1074 107% 2 84 HihW ¥4 Yk 91 91 2 101 100% 100% 1107 107 107 5105 105 105 1 103% 115% 113% 13 109% 109 109% | 5110 110 o 1106 106 105 33 93% uiw ‘uilg 1118 11s 1 K 1024 102 102 22 105% 105% 1054 ¥ 101% 100% 101% 3 104% 104% 104% 12 104% 108% 103% 5 11235 112 112 99% 99% 99% 9w 91% 9l 105% 105 95 98 2 109% 109% 109% o umt sk 10 19 10 1ubte 105% 1057 1024 102 lozi 108'5 108% 108t 105 104% 104% Y9 YA Y93 | 105% 105% 105% 106 105% 106 108% 109 100% 100% 91 92 105% 105% | 110% 111 121% 121% | 2 Y2k YUR Y0 | 1055 108% | 99% 100% | 108y 108% 102% | 1% 110% L1 101 101% 101w 104 104 104 103% 103% 103% 105 104% 15 104 104 104 96 95% Y Yo% 99x W M W 106% 106% 1044 104% 104n W% B0 Yo win 108% 1054 100% 108 1084 va% % 100% 100% P 2% | US Rub 74s. U S Steel sf b Vertientes Sur 7 West Kleo b8, Westinzhous WinRepeat Ar 7% ! Ann Arbor Brooklyn Elec 6 %43 Bklvn Manhat 63, Warner Sug s 41.. vees 42 108 34 108% 4 2 Yngstn S&T 68 wi. 12 100% RA!LROAD. Buff R & Pitt 4%s. 16 Can Nat 418 54 Cun Nat 43ps 57. Can Nor 4%s 1935, Canad North 7s Canad Pac d Can Pac 4%s Cent of Ga $s.. Central Pagific ¢ Chesa Corp 5s wi CB&Q-1div Chi B&Q gen 45 53, CB&QI%s1TB.. 1 CB&Q-1lI3%s... Chi Gt West 43 69 C M&SLP 43 25 ef: rfalgscr. Pevbscfs. CM&StP 58 (new). M&SP adj (new) Chi NW Cht & V ref 5s. Chi& NW 6%s Chi& NW 7s.. JCRI&Prras. CRIPac4leswi. Chi'TH&SEbs Chi T H inc 63 60 Chi Union Sta bs. Chi & W Ind cn 4 C& W 15%s62 C&Sixtasz9. Colo & Sou 4% Cuba Nor flpscts. D & fud ev 5835 Del & Hud 7s 30, Den & Rio G cn 4s. Den&R10G 4%s 36. D R1o O West 3. Erlecouv 43 A Erie cvt 68 67 wi FaECHs 4., Grand Trunk 7 Gt Nor 4%s76 D. . Grt Northn 414 E. Great North 5s.. Great North 6%s.. Great Nor xen s, Cht 5 &Q Istrfbs. Ch&E 111 0 68 61.. s 2037, CCC&SULrT6s A, 101% 108% 100% 107% 104% 104% 102'% 108% 100% 107% 104% 105 102 103% 106 100% 100% 107% 104% 82 T Y84 E6% 115% 100 100 5 1071 Hav El Ry 5%s 51, 1 Hud & Man rer b: Hud & Manaj s 11 Cent 4852, 111 Cent ret as. 111 Cent 4 %s 66 111 Cent Chi 4% int Rap Tran 7s. int & G Nor Ist 6s. Int & G Nor ad tnt RysC A 5s 72 Int Ry C Am 63 41. int Ry CA 6448 rct Kan City FtS4s... Kansan City S bs KansasCity S 3 Lake-Sho Laake Shor Lehtzb Valcn 1LehichVal con Man Ity 1st 90. Market St (s 40. Mil EI Ry & L 63 6) M St P&SSM cn §s. MStP&SSM5ss8td MStP&SSM % MKE&T st M K & T ad) 58 MK&Tprinbs A Mo Pacific gen 4s. . YChI&StL 5% 8A NYCHI&SIL 6488, NYC&StL6sA. : ¥ Rys 65 65. N Y State Ry ¢ 45, NYWE&Bossehs. Nor Pac 33 2047... Northern Pac r | Peninsyl gen 4%s. . Pennsy, 92 2% | Pennsy C&BtLOsA. | PCC&SLL b9 B 75, Reading ge Iteading J C 48 1. 110 G West ci 48, StLIM&S 4829... St § M&S g0 bs 31 1025% 102% | Bt L IM&S R&G 10.% 100% | 10b% 106% | 100% 100% 104 104 Yo% b 108% 110Y% 105 Jubs 106 106 10 1024 102% 194h 104% 03% 108% % 122% b Y 104% 104% 104% 105 101 101% 104 104 100% 100% HE B 4 luKs | SUL &S K pl 48 BUL&RV prin BUL&S K bYnl Bl L &KV ad) BUL&BKIne UL &8 K or St P & KCSh LB W ist StL8 Wecon Heab A Lref Hou Pacific el Hou 1acilic ref 4 8ou Ry gen 4 Bou Ity Con b8 § 104% 1047 1049 1oy 1054 105% ynle sl 1025 102% 108 108 10w 1104 104% 104% 108% 1034 106Y% 106% 103% 108% 106 106 d9% ik M 96 4 109 10jia 104% 4 103% 106% 10is% wi% 10iw 101% 1075 107% 1045 104% Bou Ity 6u 66 Southern ity 6% » Lehigh Val 58 2003 i 3 S: P & SSM cn 49 2 ¥ CentLScl 3%s 4 C& St Ldb 4s. . 1 1 1 NY NH&H db 4s 67 10 NY H Hav&H cit 6 1 254 Y Rys6sA65... 40 3 or & S gen 68 54., Norfolk & W cn 4s. Yam.. HBeaboard AL 4 sts Tex & Pug ba 17 rte 10 Thita Averef 4s 60 2% o Ihitd Aveisd) bs Uuton Pac 18t 48, , Un Pao 48 87, { Unton Pac ev fe. .. Tol'Tr L&l bY%s 30 Union Puc 1strf 48 4 4 " I Virginie ity 1atte, 14 Wahash 6 76 13, Wahean b4 15, ., Wast Maryland Wentern bd 41 o Vacing bu ®ho Whel & L 15 ¢ | PELl] e ' 2 1 4 i 112% 1154 % 101% 92 bl | 4| was reported & Just about normal to- LT Business in Other Lines Re- - ported Above Normal by Wholesalers. Business on the wholesale market day. Receipts were normal and the vol- ume of buying suficent to take care ox‘l!')’\‘:l':'wu no active demand for poul- try, and the fowl market, i varticular, was reported as not very strong, but 4lo changes in prices weie reported. Fresh selected and hennery eggs re- mained at 27 and 28 cents per dozen, while current 'r;dc:lpts were firmer at 26. fons were: . lglut?et:'—()ne-po:)x,\dkpaln% 4715248Y%2; a50; store packed, 28 m%g:g-r‘reuh sclgc‘ug. 22?25: hennery, ; current receipts, 26. z?filtry, alive—Turkeys, 37a40; Spring chickens, 35a38; fowls, 27a28; roosters, 17a18; ducks, 24a25; keats, young, 70n 75; old, 35. Dressed—Turkeys, 38a4. Spring chickens, 35a40; fowls, large, 28a30; small, 25a26; rooste 20a21; capons, fancy, heavy, 42a43; small, 30a35; ducks, 27a28; keats, 80a90. Meats, fresh killed—Beef, 20a22; veal, 22a24; lamb, 28a30; fresh hams, 18a19; loins, 18a19; fresh shoulders, 12al3; | smoked hams, 20a22; smoked shoulders, 121;a13; calves, alive, 8ald. Fruit and Vegetable Review. Today's market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural Eco- nomics, says: E ‘Apples—Supplies moderate; demand moderate, market steady; barrels, Vir- No. 1, 2V inches up, Yorks, No. 1, Delicious, 2-2% . S. No. 1, 212 inches unclass!fied | up, Romes, . i ngmes, 21, inches up, 7.00: boxes, Wash- ington, medium to large size, extra| fancy, Winesaps, 4.00; Romes, 3.50; De- licious. 4.50a4.75; Virginia, medium to | large size, extra fancy, Delicious, 4.00a | 4.25; bushel baskets, New York, un- classified, Baldwins, 212 inches up, 2.00; vVirginia, U. S. No. 1, Staymans, and 23, inches up. mostly around 3.00: Pennsylvania, U. S. No. 1, Romes, 234 inches up, 3.00:2% 8. No. 1, 24 inches up, Winesaps, 2.75. | pc:bbagc—gsuppnes limited; demand | moderate, market firm; new stock, Flor- ida, 1l2-bushel hampers. pointed type fair quality and condition, 1.50al. Texas, bulk, per hundredweight, roun type, and barrel crates. approximately 100 pounds net, round type, mostly around 3.00; old stock, New York, sack- ed, per hundredweight, Danish type. | 1.00a1.25. | lery—Supplies moderate: demand | moderate, market steady: Florida, 10-| inch crates, 6-8 dozen, mostly around 3.25; 3-4 dozen, 3.00a3.25, Lettuce—Supplies moderate: demand moderate, market steady; California, crates, Iceberg type, 4 dozen, 3.25a3.50; best, mostly 3.50; few higher; 5 dozen, 3.00a3.25. Onion Market Steady. Onions—Supplies limited; dcmand moderate, market steady; Michigan and Ohto, 100-pound sacks, yellows, U. S. No. 1, medium to large size, 4.00a4.50; mostly, 4.25a4.50: Massachusetts, 100- pound sacks, yellows, U. 8. No. 1, small | size, 3.75a4.00. | Potatoes—Old stock, supplies liberal; | demand moderate, market firm; Michi- share on the 244,651 shares of common stock, before depreciation. The annual statement to be published later will show that earnings in 1927 were the largest in the company’s history, with the single exception of 1925, the year of the Florida boom. Dividends are being paid at the rate of $2.50 a share, which is hardly half the net earnings before depreciation. The company has no bonds, no pre- ferred stock and no bank loans of any character, it was pointed out. WHEAT PRICE LOWER IN DEALINGS TODAY Liverpool Unresponsiveness to Up- turns at Chicago Have Bearish Effect on Values. By the Associated Press CHICAGO, March 8.—Rains in the ~7..t and Southwest and Liverpool un- _sponsiveness to price upturns here led to an early setback in Chicago wheat values today. Besides, some Minneap- :’:;‘liut::hcnl }\’m\s reported to have been sold for rail shipment to this city. Opening % to 1% off. Chicago wheat Jater held near to initial figures. Corn and oats were relatively firm, corn starting 15 to ‘% down, but afterward scoring some advance. Provisions tend- ed to sag. B. & 0. EARNINGS DROP INDICATED BY TRAFFIC Special Dispateh to The Star. rwBAL’K‘IMORE. March 8.—The lnd!- cations are that Baltimore & Ohios. February earnings will continue to show a decrease, compared with last year. Carloading of that road dccllncq 15.5 per cent in the two weeks ended Febru- ary 11, totaling 115,960 cars, against 137,102 a_year ago. Freight carnings for the first half of the month are likely to show approximately the same decline as did carloadings during the riod mentioned. p(‘The Baltimore & Ohio directors meet in New York March 28 to act on the next quarterly dividend, which will no doubt be at the regular rate. GETS LOCOMOTIVE ORDER. NEW YORK, March 8 (#).—Ameri- can Locomotive has an order for 10 lo- comotives from the Boston & Albany rallroad. Baltimore Markets BALTIMORE, March 8 (Special).— Live poultry—Turkeys, pound, 36a45; old, 32a33: poor and crooked breasts 25; Winter chickens, 40a45. young chickens, 33a35; Leghorns, 28a30; pooi and thin, 23a24; old hens, 25a26; Leg horns, 22a24; capons, 30a38; old roost- ers, 15a17; ducks, 29a30; poor and thin, 23a24; guinea fowls, each, 40a85; pigeons, pair, 40a45 r | Dressed poultry—Turkeys, pound, 35a 45; old, 32a34; poor and crooked breasts, 25; young chickens, 30a32; old, 24a25; roosters, 16al7. ducks, 25a30: capons, 30a40. Eggs—Receipts, 1403 cases: native gan, 150-pound sacks, Russet Rurals, U. S. No. 1, mostly around 4.25: few | higher; few low as 4.00; P:nmylvmll.} 150-pound sacks, Round Whites, U. s,‘ No. 1, 3.85a4.00, mostly 4.00; New ,York.‘ 150-pound sacks, Round Whites, U. 8. | Ne. 1, 4.00; Maine, 120-pound sacks, | Cobblers, U. 8. No. 1, 3.75, few higher: | Idaho, 110-pound sacks, Rurals, U. 8./ No. 1, 350. H Spinach—S8upplies heavy: demand light, market weak:; Texas, bushel bas- kets, Savoy type, 75a1.00; South Caro- | lina. bushel baskets, Savoy type, 15; | few higher. | Strawberries—Supplies moderate: de- | mand light, market dull; Florida, pony | refrigerator Missionarys, 50a60; few low | as 45 per quart. | ‘Tomatoes—Supplies light; demand | moderate, market slightly stronger, re- | w| packed in New York City, uhknown | 1034 Blly 106% 194 0% 96 9% T 116 103% 1123 106 4 103% 112% 4 106k 100% 108% 1094 105% e 1015 100 (7] w7 100% J08% 108'% 10H% HH 101% 100 04 o1 108% 1041 106% Hh 1014 100 w2 | moderate, origin, count, 4.25. | String beans—Supplies light; demand | moderate, market firg: Florida, 7= | bushel hampers best, 6.00a7.00; poorer | threes, ripes, wrapped, fancy | 4.50a4.75; cholce count, 3.75a | | low as 5.00; wax, 3.00a5.00. | Peppers — Supplies light; demand | market slightly stronger; Florida, pepper crates fancy, 4.50a5.00. Eggplants Are Scarce, | Eggplant and squash—Supplies very | light; too few sales reported to quote. Cucumbers—Supplies moderate: de- | mand light, market steady; Indiana, | hothouse stock, 2-dozen crates dnuhlele_’ fancy, 3.35a3.50; 50; fancy, 3.00. Carrots—8upplies moderate; demand moderate, market steady: Texas, West- ern lettuce crates, mostly around 3.50. Beets—8upplies light; demand light, market about steady; Texas, bushel baskets bunched, 2.00a2.25, mostly 2.00. Peas—Supplies liberal; demand rmod- erate, market about steady; Mexico, crates mostly around 4.50; California, crates, 5.00a5.25. Cauliflower—8upplies moderate; de- mand moderate, market steady: Calitor- nla, pony crates, 2.15a2.25; fair to ordl- nary quality and condition, 1.50a2.00. Oranges—8upplies moderate; demand light, market steady: Florida, boxes me- dlum size, 6.5007.00, mostly 6.50; Cali- fornia, boxes medium size, 6.00a6.50, mostly 6.00. | Grapefruit—Suppliss moderate; de- mand moderate, market steady; Florida, boxes 5.50, few higher. -~ . extra extra fancy, 3.25¢ U. S. STEEL ORDERS. NEW YORK, March 8 (#).—A gain in unfilled orders of the United States Bteel Corporation at the close of Feb- | ruary, o be made public next Satur- day, now 1s helieved probable, previous estimates having pointed to very little change from the month before, and possibly & decrease of 75,000 or 100,000 tons A material increase in bookings toward the end of February, coupled with heavier specifications against old contracts, caused @ revision of fore- casts, and an increase of as much as 100,000 tons now is anticipated. National Metropolitan w Bank v Yeurs Years Old Ol 15th St. Opposite United States Treasury B ( and nearby current receipts in {free cases, 22a26; strictly fresh, dozen, 267 a27 Butter — Good to fancy creamery, 46a51; prints, 51a53: blocks, 49a51; ladles, 35a37° rolls, 30a35: store packed, 30, dairy prints, 30a35; process, 40. Country Preduce. Potatoes, Wwhite, 100 pounds, 1.50a 2.25; new potatoes, bushel, 1.25a3.00; sweet potatoes, barrel, 2:50a3.50; yams, barrel, 2.5083.50; beans, bushel, 2.00a 4.00; beets, 5a2.00; cabbage, hamper, 125al.75; caulifiower, crate, 1.50a2.25; carrots, crate, 3.25a3.50: cel- cry, crate, 1.75a2.25; eggplants, crate, 2.50a4.50; kale, barrel. 2.00a2.25; let- tuce, hamper, 2.00a3.00; onions, 100 pounds. 2.50a bushel. '.‘?Dn 3.00: peppers, cra! .50, parsnips, bl%kcl‘?‘pfllln'_ S cabbage, bushel, 50a65; spinach, bushel, 80a1.00; matoes, crate, 2.00a6.50; turnips, basket, | 40 20a40. Apples, bushel, 1.25a3.00; barrel, 3.50 a8.50; grapefruit, box, 3.50a5.50; oranges, box, 4.50a6.75; tangerines, box, 3.50a5.50; strawberries, quart, 45a50. Hay and Grain Prices. Wheat—No. 2 red Winter, export, 60; No. 3 red Winter, export, no quo- tation; No. 3 red Winter, garlicky, do- mestic, 1.61. Corn—No. 2, yellow, domestic, 1.11a 1.12; No. 2 contract, export, 1.06; corn cob, new, 4.90a5.00 per barrel. Oats—-No. 2. white, domestic, €6'.a No. 3, 65';a66;. Rye—Nearby, 1.00al.10. Hay—Recelpts, 22 tons. Hay is arriv- ing here in fair quantity, but the de- mand for hay locally s very limited and not enough actual business is passing to establish quotations on the various kinds of grades. Range of prices is about 14.00 to 17.00 per ton for good hay in timothy and clover mixed. Stiaw—No. 1 wheat, 11.00a12.00 per ton; No. 2, 13.00a14.00. Second Trust Money Available mount on ho business prope First Trust Construction Loans For 3—5—10 Years Moderate Rate—Prempt Action Real Estate Mortgage & Guaranty Corporation Main 1403 26 Jackson Place | UC—EEE:H Capital, Surplus & Undivided _Profits, Over_$2,000,000 Years of Close rontact with the Business Pulse of the City —give special value to the service this bank After Most Plans for Consolida- tion Have Been Completed. By the Associnted Press. YOUNGSTOWN, Ohlo, March 8. Representing Mutual Beneflt Life ina. Lo, 1520 K Street Tyler & Rutherford Main 475 The proposed merger of Youngstown Sheet & Tube Co. and Inland Steel Co., negotlated recently, has been called off, it was announced bere today by James A. Campbell, presldent of Sheet ‘Tube. ‘The laconic statement by Mr. Camp- bell said merely that the parties to the merger had been unable to agree.. ‘Today's revelation that the merger | had fafled, after having apparently been successfully negotiated, was be- lieved to account for recent heavy sell- ing of both Sheet & Tube and Inland on the New York Stock Exchange. On selling emanating from Chicago bro- kers, Sheet & Tube fell from 96 to 885 in the last two weeks. A meeting of Sheet & Tube stock- holders already had been called for March 15 to approve changing the name of the corporation to Youngstown Inland Steel Corporation, and to au- thorize a new stock issue. Sheet & Tube stockholders were to get two of the new shares for one of the old, and Inland stockholders were to trade even. Inland already has paid a large cash dividend on the basis of the proposed merger, thue dividing a surplus, and has recalled its preferred stock. Mr. Campbell's statement gave no hint of the causes which led to a re- versal of the agreement. ‘The merger would have brought into being a $386,000,000 organization. Sheet & Tube's gross assets are about $300.000,000 and Inland's $86,000,000. STUDEBAKER DELIVERIES. NEW YORK, March 8 (#).—Stude- baker and Erskine cars delivered to Te- | tall purchasers in Februarv established |a record for that month, exceeding February last year by 31 per cent. Re-| tail deliveries’ for January also set a new high mark. SILVER QUOTATIONS. NEW YORK, March 8 (#).—Bar sil- You can get 100 investments in one | ‘When you put your spare dollars | to work in Cities Service Common | stock you invest in more than 100 | companies. These going concerns, | which make up the $650,000,000 | | i | | i | Cities Service organization, sup- ply necessities of modern life to millions of people. Thus you get the added protection of remarkable diversity—both geographical and industrial—in one investment. Cities Service Common stock paid more than $9,500,000 in dividends in 1927. At its present price, this 17-year-old secur- ity gives you a net yield of over 8%. [MiEsy L porerTY & cO. | Southern Blaz.. Washington, | Flease send, witnout obligation. tion about Cities Service common stock. | Nemeo oo | oAddress .. | ! ; . OF :;‘IIL {CONTINENTAL INSURANEE COMPANY OF NEW YORK On the H1st day of December. 11 auirey wder 4 strect of Columbia 5 antended June 0. 1902, and Ausust 18. 1911, £13.000.000.00 ap apital & B 15,000 000 00 Cash 1 Qash in bank. s Umarket 3 A R Bilis_receivatile Premiums_uncoilcte anda of agents. . Interest due and accrucd ... od and Total assets L1 Net unpaid claimis e s reqiired by jaw reals. expense: ete. 8 brolkerage, e Nds remminine wn- Daid Ry e Capital stock { All other - luabilities Total liabilities transacted du t asLaTLAY B Wuring the vear el 30 02 WM QUAID. Vice Pre JOHN G DERBY. Scervd | ... Subscribed and CAPITAL, SURPLUS and UNDIVIDED PROFITS $140,418,080.00 United Subsidiaries: Bank It Other Assets Capital Head Office: hte 55 Wall Street New York Deposits Cireulation Bills Payable Reserves for: Twenty Four Branches n Qreatey Jecured by firet Jau_ph 1. Weller 3 Cash in Vault and in Federal Reserve Bank . Due from Banks, Bankers and U. Loans, Discounts and Acceptances of other Banks States Government State and Municipal Bonds Stock in Federal Reserve Bank Other Bonds and Securities International Banking Corporation Bank of Haiti, Inc. . g Buildings | in Transit with Branch SR Customers' Liability Account of Acceptances . Undivided Profits” Liability as Acceptor, tances and I —— 8 it . Let Money to Loan iiats da of trust gn real ew ot ' eommission Wash, 1. & Trum Oth W LOANS ON REAL ESTATE Secured by firat deed of trust on impraved property. Prevailing interest Fntes and_ coramissions. Promot uvt.u-,- to All A TH0s. E. JARRELL CO. REALTORS 721 10th St. NW. Main 766 ate ||| Prevaliing in ESTATE Our record of 35 speaks for itsclt ~ LOANS LOANS ON REAL Immediate Action Courteous Treatment years Percy H. Russell Co. 926 15th St. N.W. How Much Do You Get For Your Money UARANTY First Mortgage Securities will give you a dependable income at the rate of 6% per annum, payable every six months. Conservative first mortgages on completed properties in and near Washington are your security. And we place our own capital, sur- plus and reserves of more than $3,400,000 at stake in an unequivocal guarantee of full pay- ment of your principal and interest. Denomi- nations: $1,000, $500, $230 and $100. Maturi- ties from 1 to 10 years. Circulars on request. REAL ESTATE MORTGAGE & GUARANTY CORPORATION 26 JACKSON PLACE Capital Resources, $3,400,000 Your Patakas HE Maoris of New Zealand, al- though an, aboriginal people, store their grain and supplies in storehouses raised above the ground on posts which they call Patakas. On the other side of the world,- these Patakas are another illustration of the in- stinct of the human race to protect their savings from harm. How safe is your Pataka? Has the money which you have saved from hard and tedious work been put ia a safe place and is it earning you a good return? Thousands of people have made the First Mortgage Notes issued by Swartzell, Rheem and Hensey Company their Patakas and have done so with the comfortable feeling that their investment funds are being taken care of by a companv whose record of over fifty-eight vears without loss assures them of peace of mind. At 6% they should appeal to you as a safe and profitable way to invest your funds. Swartzell. Rheem EHensey Co. J!orfxa%_’fmkm T27:15th. Street. 58 Years Without Loss to An Investor including Domestic and Foreign Branches Condensed Statement of Condition as of February 28, 1928 ASSETS $133,000,080.41 Treasurer onds and Certificates $133,504,500.00 6,482,000.00 3,750,000.00 24.01 215,850, $06,000,000.00 2,000,000.00 os TOTAL , . LIABILITIES $75,000,000.00 30,000,000,00 21,418,080.00 or, Endorser or Maker an Acceps oreign Rills 212,402,852 111,880,501, A40,020.50 $1 Mfi?‘l‘;la&ts The National City Bank of New York $238,121,608.70 QUS04 24028 8,000,000.00 2 A008413 > 19 $140,418,080.00 LSS R 440,472 00 O8,008,00 1350000000 Accrued Interest, Discount and other Une earned Income . A Taxes and Accrued Expenses, ot cotera Contingencies Other Liabilities . is ready to extend you, We believe you will find practical advantage in such a banking connection, and invite you to talk the ques- tion over with our officers, us s 107% 107% 107% Wi 97 T4 100% 1004 100% 9B Wik 9% % o/ f 96 1ot 106% 106% B, i 108% Vole 100 100 100 107% 1 A07% 102 10ih INCOME I8 LARGER. NEW YORK, March 8 (A~ Nel in- come of Midiand Utihitles Co. for 1927 wis 3,646,217, agalnst $3,128,130 in 1926. Totwl net income, including the “ompeny's equity of §74,816 in undise wibatgd surplus of subsidiaries, $3,620,082, agalnst §3,283,220 the hefore. Operating revenue was V04,780, ngainst § 01,060 ‘Total s~ aels rore 0§12 4 from $113, 1,404, New York saarrere T0Ta8TANT 210,00 9% | Sheren S0 Mt s b i | Simeten 0N 6y, s TN “ 1 Sinetatr O1 78 Bk ake pid ISinclair Crude 6% L Kin Fiue Line bs Skelly O1 6%, | Southwest Hel) ba, Stana O N J 68 46 | Sue 1ant Ortent 1s Veu i leclnw In ruu dm ., bt Low & 1ot b8, 1700420027 ‘ I&"‘: a s Now York (France) 8. Ay Febouary 85, 1908, Lighty-Seven Branches in twenty-two Foreign Countries. \ PRSI S i TOTAL . 3% Puaid on Savings Oldest National Bank In the Disteict of Columbia o= 0] c——0] c—|0| = Baak e o o Abore ineluges The Natlonal Ciay e o Fersia Bl