Evening Star Newspaper, March 16, 1928, Page 15

FINANCIAL. , THE _EV NING_STAR, WASHINGTON, . UTILITIES STRONG ON BOND MARKET Industrials and St. Paul Issues Sell Off. ) BY CHARL F. SPEARE. #recial Dispatch to The Star, NEW YORK, March 16.—Decided im- provement in the market for local trac- ns, & broad inquiry for those public utilities that will be benefited h_\]hr new legal measure governing New Vork te savings bank investments. flurries several speculative industrials and Have Advance| | Rele | an early reaction in the St. Paul bonds | tanding features in oday ar were New high prices for the ye and reached in New York Railw ‘Third Avenue incomes, the one up 2 pot and the other 13, points. The 4 Interboro issues about duplicated their best previous v quotations. The entire group was but on ve rather tha 4 New York Power Bonds Strong. feipatis t some of the legal publi advance to a 430 or 4 Already a large number of t Per cent issues are around Par or we ng force the movemer aul s ar to have porarily - spent ents were off this i i i ow the high of the week, with some recovery later. _The general 5s were down % from the 4best. Florida East Coast Line 5s touch- ed 89. compared with their recent of 83 Seaboard Air Line adiu ments and 6s were fractio Andes Copper s Rise. | Of the industrials the two that were | Tepresentative of present conditions | were Andes Copper 7s. up 2 points, and | Liquid Carbonia 6s. the same. Loews, | Inc. 6s. with warrants; Remington | Rand 5%is. United States Rubber Ss, Armour 5!:s and the various sugar bonds all were active and firm. Pathe Exchange 7s had another sinking spell god sold about 10 points below the Jevel to which they had recovered after first dropping to 50 from 100. | Interest in the foreign group centered | in Prench descriptions. Est Railroad s had the largest gain and sold within & fraction of their call figure of 105. The 7s and Ti.s continued strong. It i& expected that there will soon be ad- ditional issues by the Chile Mortgage Bank, the Colombia Mortgage Bank ana by the Rentenbank of Germany. . lWashington Stock Exchange Sales. Cap. Traction Co.—5 at 1093 109%, 7 at 109 Pot. Elec. 6% pfd—5 at 111%, 5 at| 1113, i Pot. Elec. 5155 pfd.—2 at 1071;. Wash. Cas Lt.—10 at 83!2, 20 at 89'5, 3 at 8917, 7 at 8915, 10 at 89!, 2 at 8915, 5 at 897, 20 at 89!z 8 at 8913, 5 at 89%. 10 at 893;. Wash. R. & E. pid—25 at 103%_ 15 at | 103%, 10 at 103 25 at 10334, . Natl. Metropolitan Bk.—10 at 405. ol Band & Gravel pfd—10 2t 104%, | 10 &t 10415, 10 at 104. Lanston Mon —10 at 109, 10 at 1091, | Peoples Drug Store pfd.—4 at 12815, 25 | at 128 After Call Wash: Gas 65 “A"—$1.000 at 105%. #h. Gas 65 “B"—$100 at 106 ol Pl 3 at Rrazil 8s. . | Bremen St Buenos A Buenas Aire: Canada 581931, Chile 8= 1946.. I ON N YORK BONDS STOCK NEXCHANGEI . ved bv Private Wire Direct to The Star Offica Quotations to 235 p. UNITED STATES, (Sales are i $1.000 ) Sales Hich Low, 11019 1019 129 100 13 IR 10318 20 10228 16 110 20 17 11520 FOREIGN. Sales. Mizh. Low, 2:53 92 92 924 1004 100 Lib 3%s 101 9 Lib3d 4 Lib 4th 414s US 3% 43.4 U Sas 1044 UStsse 1004 o3 1001 1004 T OTH Austria is... 10356 104 Hank of Chile fl4s. 3 ¢ YW 98% Belgium 6s. .\ Belztum 68, . ¢ 1 im Ta 1955, 108 108 Relztum 7= 1956, 10610 1063 fum 7348...00 7 [RESNR AN Belsium 8s...., 3 v I Bolivia 5. f 1055 106 Bordeaux s . 100 101 161.818 o8 O8I Bra Brazil s 1015 1017 110% 1105 105103 100 1004 [TULNS TN JLIRNETITEN Wi g 01t 1ot 102 o2 110% 1105 1104 1104 1001 1017 107 1017 10 1103 1101 rada o Ns 1941 Con Pow Jap: Coven Copenhaven files, . Caecho T4 rots. 1¢ ¢ Danish Munic 85 A | Denniark 6. | Dutenh | azen 1005 100 10 105 1107 111 110% 110% A 105% 105% 104 104 104 104 Czecho §s 1931 “zecho 8s § St16s 4T, Dutch East | fs Sulvador 8s 48, niand s f 6s 45 Finland 7s Framerican 1 %s. . | French . i 3 J Lyon 6s.. Marseille 6s. Milan 6%s.... Netheriands 6s 54. S s | Toho Ei Pow 1s Tokio 55 Tokio 5%8 1961. Norway bgs. Orient Dev deb 3. Paris-Ly-Med 6s. . Paris-Ly-Med 7 Paris-Urleans 7s. . Peru 6s 67 w. Peru 7s. Peruiiss... Peru 7381395 Peru 8s. Pojand 7s (rets) Poland ¥s. Porto Alegre 8 Prague 7 Queensiand 6s. Queensiand 7s.. 110 de Jan 8s 1946 Rio de Jan ¥ Rome 63s. Sao Paulo City 8s. Sao Paulo 85 1936, 8ao Pauio 1350 Saxon (PW) 7s. Seine 7s 4. Soissons 63 Sweden 5% Swiss 38 1946. Utd Kingm b Utd Kingm 5%s 37 Utd Steam Copen 65 17 108 1683 1004 1041y 100! 104! 100 d-Amer 6s. ., | Hungary 7%4s.. ¢ higher. | Italy 7s 983 9Th -z taly Pub 7s. apanese 4s. apanese 613s...,. %] 2 ew So Wales *57s. ew So Wales ‘58s Nord 6138 0 Shratelaafce 102% 1024 100t 100% 102% 10. 1025 102% 1017 102 1004 1001 201 991, 104 104 103% 104 921, 93 10 1037 107% 107% 107 1075 110 110 90% 91 100% 104 107w 107 105% 103% 108% 1084 % 115 115 108 108 108 110 110 110 U3% 931% 93% 19 119 119 107% 107% 107% 108% 1084 108% 6 102 1017 10 106 105% 105% 101% 100% 101 YYa Y9 Y9N 104% 104% 1045 1034 103% 103% 103% 103t 10314 1120 112 1124 100 100 T9% 0% 9% 9% 118% 118% 118% 106 106 106 s 9% 98 Norway 63 1943 orway 6s 194 Norway 63 1952. 7 weden 6s. wiss Confed §s.,, 1001 1005 100% 100% L1004 1008 NN 1000, | ~Final Quotations in 5:30 Kdition, Sales 1hzh Low. WinRepeat Ar 748 1 106 106% Yngstn SET os wi. 62 101 100% 1 RAILROAD. Ann Arbor 4s { Atchison ad) 4s... } Atenison wen 4s. ., | atanticC Lel 4s... At1 & Dan 15t 4s 48 Atl & Dan 2d 4s 43, B&OGold 48 R&OCvalys B&Orefbss..., B& 0582000 D.., B&O Istbsct... B&OTimn6s. B& O PLEWY 4s. B & O Toledo 4s. .. Brdwy & 7th Av §s Brooklyn Elec 6%s Bklynklevated 6% Bklvn Manhat s, Buff R & Pitt 4148, an Nat 414830, an Nat 4as 67, a3 10015 1003 | | Can e s s | Cent P'ac 1t 52 00, | Chesa Corp 5s wi. . 1001, 1041 100 100t 10 100 1041 09 1001 R Qs . THE QA divs, 5 11120 58 81, West 48 Chi NW 414 Chi & NW 6is | Cnt Rvs {ChIR1& Prtds ICRIPacayswi, ChiTH&SEbs Chi T H 1ne 65 60, bt UIn Sta 414 3 | Chi Union Sta 6s 44 Chi Union Sta 615 Cuba Nor 5148 cts. Del & Hud st rf 48 i Del & Hud 6%s.... i Del & Hud 7s30... Den & 1210 G en 4s. Den&R10G 4345 36. D R1o G West 5a Det United 41 Erte 1st cons Erie zen4s.. . ErieconvasA.... Erie cvi 53 67 wi.. 102 Erfe Genessee R 6s 1 Erfe (Pa)cittrds. 2 FlaBCsas...... {GtNorays76D.. 1 Grt Northn 41813, 5% Great North 53s.. 1 Great Nor gen 7s.. 10 Hav El Ry 6%s 61, Hud & Man ret 5. Hud & Man aj 5 111 Cent ref a3, 111 Cent 4s 53, Il Cent Cht 4%s... 111-C-C StL&NO 58 Int Rapid Tran 6s. 63 Int Rap Tr 6s stpd.395 int Rapld Tran 6s. 17 Int Rap Tran 7s. Int & G Norad 6s., 41 Int RysCA6s72., 2 IntRyCA64sret X Iowa Cent 1st 5 Kan City Ft 8 4 Kansas City S 3s. Kansas City S s Kan City Term 4s.. o8 18 1024 X 100 100% 106% 10 Lehigh Valcn 4s.. LehighValcon 4%s Long Isrf 4849 Louls&Nash un! Man Ry 1st 90 Market St /s MIEIRy & Mil El Ry & L 6s 61 MS: P&SSMecnds MStP&ASSM5s38gtd MK&T45B..o... MK&Tadss MK&TprinbsA. Mo Pacific gen 4. 100% 91ty 1074 L 104% 100% 91 106% 104 81l 1004 Yy 107% 104% 811 | anpreciation. MIARCON] SHARES DOMINATE CURB Brokers Literally Fight to Execute Orders in Wild Session. BY WILLIAM F. HE Speetal Dispateh to The Star. NEW YORK, March 16.—In one of the wildest scenes ever witnessed on the floor of the Curb Exchange, stock of Marconi Co. of Canada dominated spec- ulative interest today. In a frenzied effort to execute orders, brokers literally fought with each other. In the first hour total transactions were 201.300 shares in that issue alone, sei- ting up a new high record for a single issue in the annals of curb history. This compares with 180,000 shares in the first hour Thursday which was the rec- ord up to that day. The price cpened on a block of 45.000 shares at 7% and subsequently pushed forward into still further new high ground. Much of Stock Moves. A to assume that radin: continue at the current wonld be only a matter of a wh-n the entire capital stock of Mareoni Co. of Canada would have chenged hauds. Fancy predictions as o the ultimate vket value of the stock were in cir- tion and served as fuel to fire the speculative imagination as to what could be expected in the way of price Interests responsible for the mov> m Radio Corporation shares ERNAN. It W should ace it {on the Stock Exchange were credited with sponsoring the move, but it was impossible to check the source of the buying. It was enough to know that buying orders were coming in from all parts of the country, from Canada and from brokers said to be representing Londcn inter Radio Corporation is a joint holder with Lazard Freres and Marconi Co. of England of controlling stock interest. Everything Else Secondary. Spanish and General Corporation, ‘med in 1920 as a wireless trust and which Marconi of Canada is said to control through stock ownership, moved forward sympathetically into new high ground. Everything else was secondary to what was transpiring in Marconi shares, although good-sized gains were recorded in many instances. Tubize Artticial 1149+ | Silk sold at its highest in history, get- ting well above the 600 level for a gain of almost 15 points at one time. New- mont Mines jumped from the previous final of 156'; to 164, Auburn Auto at 130 compared with Thursday's final of 123 and Bancitaly at 103'2 compared with the last sale Thursday of 186. i g COTTON SCORES GAIN ON LIVERPOOL NEWS Buying Also Based on Belief That | Too Much Rain Has Fallen in Belt, By the Aswociated Press NEW YORK, March 16.—The cotton market opened firm today, at an ad- vance of 10 to 15 points on rather ac- tive demand, which apeared to inelude covering by trade and speculative shorts and probably some commission house buying based on relatively firm Liver- pool cables and talk of too much rain in Eastern and Central section of the belt. Prices made new high ground for the movement in early trading, selling up to 18.96, net advances of 17 to 22 points on the more active positions. Of- ferings increased slightly as May ap- proached the 19-cent level, but prices held within a few points of the best at the end of the first half hour. NEW YORK CURB MARKET Received by Private Wire Direct to Tie Star Office Following is the list of stocks and bonds traded In on the New York Curb Market today: Salew in INDUSTRIALS, High, Low. 1 110 % ! i Allison T 1 Alum € a1 Am & K Amer A BAm Br & : 0P & Sn Anto Co I ack VG & Jum & Rr Toh' con Mot . RR Wyant i W Am o Aln prowi 1 Am L nIn s s 3 1B Debenhams 8 wi 51 % 2 Deere & Co 9 St l Dubilier Durant ingon Rd & Sh Bd & Sh pfd Invest In P& opt] w F24y ulton Syiphon. 3 be Coul&Dis 61 * 2Z 23R 1 Mach on Pub Ser len Alden € A ] 7 Tap & Die Hail Printing Hanp < Hert Hovie Home FirkM Horn & Hardart 60 Homn & Hard pfd 10 Teapenial R ind Ray Insur Co Intl ] Interest D St Wi Int D Strz nfd Keyatone St & W Kruskal & Kawan S cws “deb Tin e 1) Lt Dt re Wire' Lon rmon_ Mot asialty | Hottling ces Tin Plate NT OIL STOCKS, 1 0% 16% Sales in TANDARD OIf, ISSUES units, D FORMER SUBSTDIA o0 Imp O & 200 Ind P L. 008 0 Tnd. 1008 0 Katsas GOS8 O Ky... T00S 0 Ohio! | 600 Vacuum Oi Salew BO; in thousands, > I Ala Pow 4050, .. 081 15 Al °Co tAin B i P A G . ol % m'::u-.....’x;l. e AL 0L 20 Avpal, El Pow by 1017 20} Avval, W ba 101 13 tl Ol b4 L See s A 1 Cudahy 4. # et Intl 615800 N et Intl 7. .00 100 1 Dix G G .. 93 1011 o 28 10040 Ing Ol & Gas 6a. I8 HanapPsl, 5aA 101 % 7 Interstate Pow 3 Invest Cor A o« Milwanuk G 4138 10115 s & ¢ T1ix 100 WD Prod Aiie 0004 P& L s 'A107T1 S fiew A 105 Cop_ba 09 A Schirlte P QUTLOOK 1S BRIGHT FOR 1928 BUSINESS Crux of Situation Lies Farming and Diverse Crops Are Expected. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, March 16.—Improve- ment was recorded in the business sit- uation this week, but it was a psycho- logical rather than a physical improve- ment. It can be traced directly back to the starting fluctuations and ad- vances in the stock market, These advances did not sell an addi- tional radio set, make an additional automobile, provide an additional tcn of freight’ for railroads to carry, or ive additional employment to another an, but the mere fact that the stocks of certain companies went up served 1o reassure a number of business men who had expressed doubt as to the reality of the claims for prosperity and were ex- ercised concerning unemployment ‘The main factor for real business and industrial_employment lies unquestion- bly in the agricultural situation. It is still too soon to make accurate pre- dictions concerning crops, but the d velopments so far have been thorougnly satisfactory. From this time on, how ever, the weather will be a dominant factor and will be watched with e treme closeness, not only in the rural districts, but in the industrial distribut- ing centers. Crop Diversification. The improvement in buying power recorded last year is amply sufficient to secure an adequate volume of trade throughout the first half of 1928. For the remaining half of the year, it would appear from the present indications that corn and small grain acreage will show an increase. Cotton, however, is not expected to show much of an increase, if any, and there will be greater diversi- fication of crops than ever before. It is indicated that the dairy industry will be a mainstay of the farming commu- nities, while the prospects for live stock and wool are extremely bright. As to fruit, the lateness of the Spring has been gratifying to growers, since they feel it has eliminated a good part of the danger of frosts later in the season. Wool shearing has just commenced in the Southwest and before long the reapers will be clicking through the grain flelds of Texas, New Mexico and Arizona. That means the first influx of ready money into the agricultural com- munities for 1928, Steel Industry Active, In industrial lines steel has main- tained its operating activity and now is at a far higher rate than at this time last year. Moreover, the building, rail- road, agricultural machinery, automo- bile and oil fleld demand indicates that the rate will be maintained. Second- quarter prices are very firm. The automobile industry is increas- ing its activities, but this is due largely to the improvement in the employment of the second largest producer. It fs quite evident, however, that the indus- try will not reach its peak of production much before June. The situation is still spotty. Building activitles are showing sea- sonal improvement, with contracts steadily reflecting the progress of plans on which it was estimated building expenditures would exceed $7,000,000,000 this year, Copper metal's statistical position is slightly weaker and holders R?l?sh::miz a disposition to press sales. No little part of the difficulty arises from un- satisfactory industrial conditions in Germany, alw a big consumer of at present figures are far from satis- factory to mine operators. Airplane Demand Grows, The automobile tire industry is pass- ing through a period of uncertainty. American copper. Lead. zinc and tin | FINANCIATS send date | b vaue birth ul vou a MORTGAG LOAN iredd by o < ANY AMOEUNT avatliz Int KENNETH M 505 Ameciean Mortgages Investments | JAMES Y. PENNEBAKER | Member Washinzton Real Estate Board | | { Main 5328 1520 K St. N.W. WE FINA —all classes Large Loans a Specialty H Current Intercst rate and com | Higbie & Richardson, 816 15th st. W. H. WEST COM | Founded 1891 | 916 15th St. Main 9900 Let us have your applica- tions for LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of | speaks for itse Percy H. Russell Co. 926 15th St. N.W. 35 years Buck & Company BROKERS Established 1916 Stocks Bonds Grain Cotton Write or call for weel'y market tetter. B | No Obligations BUCK AND COMPANY Evans Bldg. 1420 New York Ave. Franklin 7300 Tailors to Gentlemen For 8 Gen Being faultlessly Tailored this Spring is far too important a matter to place Price before Qual- ity. Money Available for [l FIRST DEED OF ; TRUST LOANS otomac Elec. 5155 pfd.—5 at 1073 107%. ston Mon.—100 at 1097, 1 at 109, Mergenthaler Lin—20 at 10235, Dist. Natl. Bk—25 at 245. Peoples Drug Str. pfd.—2 at 128, ,C. & P. Tel of Va. 55—$500 at 103%. iagd Unlisted Department. Chapin Backs 8% pid.—10 at 106%, 10 | 2t 107%. Money—Call loans, 5% and 6%. Bid and Asked Prices. Yokoham: Mo Pac 68 A 65. Mo Pac 58 F 17. Mob&Ohio gn 4s 38 Mob & Ohio %48 77 Nassau El 4351, New Or Term 4 NOTex&M NOT&M6%s, N ¥ Cent deb 4s. NYCrfimay NYCentrib NYC&StLab4 YChI&SIL 6% YC&StL6sA. wi.. 103% 103% 102 97% 994 5T% 9414 Private cables reported trade calling g [ e e with local and continental buying in Mid Wt s wi Liverpool, and that home demand for Mohawk Hud P. cotton cloth in Manchester was in- Monsanto creasing. ‘The advance was halted by realizing when prices reached 18.99 for May and 1850 for October. The offerings were absorbed on setbacks of 5 or 6 points, however, and the market showed renew- ed steadiness late in the morning, hold- ing within a point or two of the best at midday. There was considerable buying of December, July and May dur- 10 8% 9Bl s MISCELLANEOUS. Am AgriChem 1%8 13 1050 105% 105% AmSmit& R1stés 13 102 1z 102 AmSmit& R6s... 1109 105 109 Y93 ! It still is undetermined just what ac- | tion the British government will take | 607 0 Reasonable Commission with regard to rubber restriction in the | Prompt Replies to Applications Far East. Until this is settled the | JAMES F. SHEA SoUcRT Bt producers will be distinctly uncom- So Cal 86 Sou_Ashestos Ga 11 12 Sthw G&E B A 007 TSthw L&P s A 100 13 Staley M PR AN 1 Stand Tovest 5a0 o 18,08 ¥ el 643 Louisiana Ave. N.W. Ma Ra 61, ] AR Sun 0N 3lgs.” 57% 9115 100% 105 9815 103% fortable. | The demand for commerctal airplanes | is improving steadily and it now is, forecast that at least 10,000 will be produced in this country this year. The lumber industry, although stil capable of producing much more than | the country will absorb, is in a more | healthy position than it was a year | AmT&T st bs.. Am Tel & Tel 6% Am Water Wiy Am Writ Paper 6s, Anacouda 1st 6s. Anaconda v db 7s, Andes Copper s, 10 109'% 109 100% 1007 r i Neptune Meter Wpart Co P Vel Co pid Bem Pid.” 43 105% 1 9 11 10 ago. UTILITY oy e A, Te Anacont Aua, i id 1 | 109 ios"" { | LIC UTILY 3 iCon . o $oonn Hanonal Metr Beinnd . Kavonel baik of Wi, P e ot Be e rve & wrt Washivgy, & SILVER GQUOTATIONS NEW K. idaivh “ s, Vily #a Gulnis, 4, | Humble Uil o | Huw | Wiinais {Indiana Steel ts, | 1t Mer Marine 83, | tuter Saper ta 6n LiutTeisTeleg 44 5 | d Kayser & Cobias 92 111 Lig 1 | Beth Steel rf b8, .., Belh Steel %8 63, | Belh Steel 68, Bkiyo Union 6348 Bush Term Bldg bs Chiy 2 Col Gasklll deb 68, 37 100% Con Cual Md 18t b8 ConGas v Y b4, | Cuva Cane 8a. Cuban Am Sug Dery (DG) 15, | etroitkaison ix 40 - | Detroit 1d1son 6s. | Doage 63 Goodrich 6%, ., | Gooayear b3 rets, | ar Bstes Fuwer 6 | Bin #ipe Line s, 06 Armour&Co 4% s. Armour Del 6% Atiantic Refin & Barusdall 6s 1940 Beli | Bell Tel FabsC... : BeinlenemsSu ymbs 100 10k 1 d1za e! 11025 102% 1023 2 104% 108 103 T 104 105% 103Y 105% 145% 1067 106y 206 266 i 104 95 96% 100 1004 78 9 106% 106% 913 913 10656 1063 56 58 104% 104% 105 Jox LY 103% 104 108 108%, el Pabs B 2 1061 17 263 4108 Copper 6. Sen Mot A 97 97 97 2 100 100% 1001 2 « 102% 5 1051 4 1045 105 1014 Yy 1L o 2 104% 104% Y1 6y, 110y Kan City P & Lbs. 1 105% 105 Lackawanna U e, 11 105 Joj laciede G on b2, A B0a% 1045 & Myern'bs UL FUEE ard bs Z 9 4w Loulav G & 6302 4 104w 105% Con 6%s 40 1195 105 Sont Fower b8'43. 10 104% 10414 Munt Fower deb bs %1 o2 1ol Morsbo 1t 4148, 44 »E% Al 11045 104% 4 1I0% 1iug i 101m U F DA Go10ze 12l U 1110 11wy 14 4oz LR 910 Loay, 2 100% Lok 1 1069w 105 1045 1 05% 105 102 el by 2 NG L&Y s, NY Telshn., NYTelbssl,, NYTeitsy North Aw Kain b or e Ve & I, s & 1) bu chsngeis bn6l wa, Fitla Cort 6a A, Flerce-Arcow in y Por tie Am Lob 6w L 101 1014 MemifigionAr 6432 1 300 109 0% 08 uE%h 974 A1 10ive 100% 22 “in ciatr 16 air ON 7w, . air Crude b i n i kelly O\ bn, .., 1T wuthwent Kl Gn, 23 106% 106! Sand O N S Ge a6 30 103% 14 Suy J5st Orlent 1. 1 109 100 Tenokieclow ba 41 4 07% 107 Gniied Drug bs R U8 b sttt te, . 1y NETUS DTN e U5 Hreel of Gu v Utah Pow & LA Gn, 3 1029 102% Vertienten Sug 19, uginEy., indl. BO100Y 100% rner § T Bh KB M ner i EAn7s 107% 107 1040 104 1) 4002 44nte 1100 45 108% 30k Bud P! > o bs., Ve esLnELY » 92| ol 104% { ey New Haven 3%s 66 ew Haven 48 55., NY NH&H 48 56. .. ¥ NH&H db 48 67 NY NH&H cv db 68 t4s.. Y Rys 63 65. NYW & Bos 4% Nor & 8 gen 63 64., Nor Pac 4% 2047 Northern Pacr 1 ennsyl gen 4%4m. . Pennsyl gen bs Pennsyl bu 64 Pennsyl 6%m. , Pennxyl gold Pere Mar 1st 45 66, Pere Marq 1t 6 IPCC&SLLISA., | Reading gen s 349, , RIAk& Lays StLIM&S 4829, ., 1 Bt L M&S gn ba 81 SUL IM&S R&G StUL&SFplas BUL&BF prin b, 10 SLL&SFOKAD., 0 BLL &S K ad) StL&S K ine BULS W istes,,. Bt L8 W con BUP & KCHhL ¢y Han A& Arn Py | eaboard A L4 | Seati A Lrat 4m. Beab A L ad) tn Seab A Lcon 6w, ., x4 S5 AL KIn 6536 A, 65 [BBAUFIa6s2613, 4 | Bou Pucanzy,,.... 8 Sou Pacitic ret 4n., 19 Hou Ny gen 4w, ..,. 45 Hou Ity Con 6w 94.,, 2 Southern ity 6%m. P TexATK S Gn00 ) | Texan & Paeitic 1t 3 ANiEa Ave rer 4x 60 V4 | Ihicd Avacadi on. .17y TOLTE L& 6Yn 30 Unton Pa 1at 4w, , Union Pao 1at rf 4n Virginia jty Ist b, Wabash istbs,,., Watmsh 2d s, Walissh L 18 1, Wahash 614816, 1007% 0 9 10u'y 10614 104 10:8% 1014 1015 100 i Wiy Wilks- 15 & Wia Cen i WILL DIVIDE ABBETS, NEW YOIK, March 16 (A Con- forming Lo the poliey of severnl pips Jine units of the old Btandard O group Lo return o stockholders excess wasets KoL gequired oo its business, Cuamber- Jand Plpe Line Co. will reduce capital sk with i payment of $30 u share, or shout $900,000. The company puid whoextrn dividend of $43 w share early 1927 e Dguidation of part of ity security holdings. Last yeat's dividend payments totaled $41 a shure VOTES INITIAL DIVIDEND. NEW YOI, March 16 (A —United Piece Diye Works declsied an initial dividend of 61, per cent. on the pre- i | feviea sack for 1928, payshle n four o auartesly Sustallments of 10, per eent cach on April 2 July 3, October 1 snd Junlniy 2 1920, ing the morning but mainly in July and December for European account, RS well as rather active covering and some commission house buying of late months on the wet weather in the South, BRISK NEW ADVANCE IS REPORTED IN CORN | Wheat Also Rises, Influenced by Falling Off in Shipments From Australia. By the Associated Pross. CHICAGO, March 16.—Fresh export sales of corn at the highest prices on the crop led to a brisk new advance in corn values toda; Wheat also went upward, 1inl’!mnm-(l more or less by fall- ing-off in shipments from Australia. Corn started Yy to 53¢ higher, and later scored sharp additional gains, Wheat, after opening at Yac off 10 1ue up, rose all around. Oats were firmer, Pro- visions likewise showed strength. With corn export business apparently undeterred by record top prices, corn trading brondened out in volume at a fast ra today, and many previous sellers reversed thelr market position in a hurry. Numerous standing orders to purchase at varfous set lmits and thus put a stop to speculative losses, were forced into execution. On the other hand there was active selling at times to realize profits, especinlly when the market went above $1 a bushel for May delivery. cantiness of wheat shipments from rulli, 976,000 bushels for the -week, nst 2,206,000 bushels the week p ceding, uttracted special notice toduy among wheat traders. Molsture fn the Houthwest overnight had but little con- trary market effect, WOOL MARKET QUIET, BOBTON, March 10 (Spectal) —Fine and medium wools were moving in small way, but the Boston Wool Mar- ket wis quict today. Prices were firmly hield and Jack of surplus stocks - denl- ers' hands his strengthened thelr posi- ton. Fine territory was quoted at 118 122, clean basls; French combing at 1o#al 12, half blood at 1L10allb; three-cighths blood, at 1008106, and quarter blood, st 95 to 1.00. Fine Ohlo flecces were quoted at BOadL grease basts; half blood and three-elghths blood at blab2 and quarter. blood st 62 . LUMBER ORDERS GAIN, NEW YOI, March 16 ), Lum- her production and orders weve slightly Jarger In the week ended Mareh 10 com- pared with the week hefol but ship- ments declined, 1L 15 shown' I reports from 685 softwood and hardwood mills to the Natlonsl Lumber Manufactarers’ Assactation. Hardwood mills reported Inereased production, shipments and or- ders. While galns wers not large prog- ress I Lhils hranch of the Industry was indicated. Unfilled orders of 220 South- ern pine and West Coast il were 6558.251.1107% feel, agalust 660,000,500 feel Vg rgVious week, £ P& el Dy war N 70 pE 1103 i pe 1o Store 0% Torws b & Lake Secur, Corp - Cor pf Mix Heal Ay B Rich “Rad. . Rubberoid 0 i Silie i Sive L P Bo sou b Grocery Southw Bl nid Clialt 1 Sweddinh Maid 20 8wt ntl A AN Aistiman Realty . 40 Tould Shin 1" WAL e 105 1 R o Corp Ui Warth ER A ™ MINING STOCKN, it Mo ML 04 newio | Mutaln et A §cms Cap M o v B [N L il Hay M &8 New Cornelin Mintug | 171 il Hh i A EL & P Ba’A 10115 Ar Br Pic 15e 1073 Phater M1 61 YA Tpaag FIEN BONDS. 10 Aitiogiiia 5 Bank Pt 11 Batavia Pee 4004 033, H s qo sl b 3 DAnIR Can s , nzte Port G,y S Ay Denmark 101 i Y W 7 Lo TC 3 14 Lombard’ £l Morid Kl M 10N Bk A NI Hogoty 1w T Chile ox 1 Venet Ta A 1 Muni Medellin Ka 1 18 Muni Medell 20 Nipoon. El 8N Ger Ljovd s 17 Novway s 0 L otmi kS PR wa PR A i 1 KL Fa M A ton g N EE bt o A& Wontphialial D Wiesaw T Wi SEX hividend MAHONING COAL ROAD, NEW YORK, March 16 (1) --Muhon- ing Coal Railroad, subsidiary of the New York Central, declared the regu- lar quarterly dividend of $1250 a shave on the common stock, payable Mareh 1 4 o ? VOTE ON CALLING STOCK. NEW YORK, March 168 (- Stock- holders of Pudget Sound Power & Light WL vote May 2 on the proposod demption of $10,000000 of 7 per cent prior preference stock, $100 par, and creatlon i {ts place of an tssue of 110,000 shaves of $5 cumulative priov preference stock, no par, ISSUE OVERSUBSCRIBED. NEW YORK, March 16 (49 —An fs- Ao of 85,000,000 Eltingon Hehild ! Ine, convertible ', per ferred atock, marketed by Goldman, Hachs & o, has been oversubsoribed k st WILL SPEND $420,000,000. NEW YORK, March 10 (9. The 1048 budiget of the Rell Telephone sy tem calls for expenditure of more than S420,000,000 for additions to equipment. | the lavgest program i its history. 1 Stocks have been reduced and orders since the first of the year have increased more rapidly than output. One of the most satisfac! tions of continued business activity ture and business equipment, increasing sharply. as comp: this time a year ago. The f mand has been especially active, M. & M. T. CO. PROFITS. BALTIMORE, March 16 (Spe With the single exception of Florida boom year, 1 9 profitable year in the history of the Merchants & Miners' Transportation Co. Net income was $975,333. equiv lent to $4 a share on 54 shares of no par value stock outs compares with net incon or $3.99 a share, earned in 1926, $1.488,198, or $6.14 a share, in 1 Dividends of $2.50 a share are pald the stock. FARM PRICE INDEX. ‘The index of farm prices on Febru- ary 15, as compared with a year ago announced by the Department of A, cuiture, shows that the prices of cot- ton, cottonse feed grains, beef cattle, lambs, wool ana horses arve higher, while practically all of ¢ other commodities are lower. he | Rreatest advances were shown by cot- | tonseed, apple: the greatest declines by potatoes ) hogs. The numerical index of 135 was 2 points lower than on Januar and 8 points higher than on Februa 15 & year ago. PRICES ON PARIS BdllRSE. PARIS, March 168 (#).—Prices we! rong on the Bourse today. Three per cent rentes, 67 franes 60 centimes, ex-interest; b per cent loans, 88 franes centimes; exchange on London, 124 | franes 215 contimes, The dollar was| quoted at 23 francs 43 centimes, CONSTRUfiTlON WORK. NEW YORK, March 16 (™ | templated construotion on big projects is holding at a high lewl in virtually all sections of the county and is well scat- tered throughout the various branches of the Industry. Heavy oonstruetion bs the past week were valued at §74.- 000 compared with $82,875,000 the preceding week and $72,100,000 & vear, the MeGiraw-Hill Construetion vepott. NEW YORK MARKETS. NEW YORK, March 16 (- Rye steady; Noo 2 Western, 1833, fob. New York, and 1817 cf expart Middle West, 13551165 coftee easy; No. 7 Rio, 16,016%: 4, Hantos, 914 Tallows steady; spectal loose, 8'y, Other avticles wn- changed, mudxsr INCOME TAX. NEW YORK, March 18 (). The tn come tax of Hancitaly Corporation, amounting to $4.573.820, 15 sald to be the largest that will be patd in Calitors | fin this year. The carporation’s stock which is the most Con- exvecds the 1027 Dgure by more Whai un,uy_u.uw. v indica- | | shown In the demand for office furni- | d_with | de- | . cattle and cotton, and | | Pay This is the aim and | function of our highly | specialized Property i Management service. It covers all classes of Washington realty and gives attention to every income—affecting datail of upkeep and main. tenance. You will em- ploy it to sure profit. | Boe Ry SAUL CO: Main 2100 apples, | Continental Trust Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Acceptance Credits Collections Real Estate Loans Collateral Loans lovestment Secuvities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE I COOPENR, Frealdont Nolders have reached 100,000, & golw of JO000 siiee the year began, Capital, $1,000,000.00 !