Evening Star Newspaper, March 17, 1928, Page 14

ATURDAY, MARCH 17, 19%8. EINANCIAY . - TAKES LEAD POWER LINE LEASE 0. K.'D. FIRST MORTGAGE NOTES ' EVERYMAN’S meren e ey Hele vda! TIN! DROP IS REPORTED INBANK CLEARINGS .. | AbItIbl. Power... ®0 80 80 S0 Y w111 neoam Adv Rumiey ., 128 124 Ahumada 1 end 4 an | Air Reductn «8) 184191 Week Sees smmp Over MOSL Air Reductn (2). 63 64 of Country—U. S. Bank and | Aiaska sunes .. e o3 Other Dividends Voted. NCTrAL, 105 STEEL N FINAL DEALINGS Flood of Or(iers at Close of Market Makes Ticker 40 Minutes Late. THE EVENING STAR, WASHINGTON, EW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Miterent e, "ang _INVESTMENTS |[: | Annapolis & Chesapeake Bay Co. ”"W‘h""!r:‘gmam‘ Given Electricity Circuit. 1221 Fre 8t N.W. Special Dispatch to The Star. | BALTIMORE, M‘:!r‘%l'll 17.-The Pub- Service Comm est ay ap- Advantage for Bondholders. proved the joint -ypumm’n of the Con- The recent offer by the Public Service |solidated Gas Electric Light & Power Corporation of New Jersey of an issue | Co. of Baitimore and the Anmpolh! of 41; per cent bonds illustrates several | & Chesapeake Bay Power Co. for an | points of investment interest to stock- |order permitting and ~approving the | holders as well as hondholders. The |lease by the former to the latter of an bonds Are debentures .that is to say,|electric light and power line on the direct. obligations of the corporation, |Sandy Spring road from Laurel, in| but not secured by mortgage. They |Prince Georges County, to Ashton, in | were priced at 98 and so to maturity | Montgomery County. | : Under the lease ~ the _Annapolis & in 1948 yiclded only a trifle over 430 opocapcake Bay Power Co., which in a | BY GEORGE T. HUGHES. baldiary of the W ashi Baiti 5 At first g sul ry of e ashington. o | special Diapatch to The Star. thaie w more & Annapolls Electric Railway, v as nothin, rticularly attrac- NEW YORK, March 17.—For the first | tive about a ‘,fil :e‘r cent unsecured | Mill take over the operation of the elec: ® tric light and power line on the Sandy hour on the Stock Exchange today|bond giving so small l,rmgmfimr- Spring road from Laurel, in Princa heavy buying made ltself felt all|{heless the privilege of e N8, io | Georges County, to Ashton, in Mont- through the raflroad list, but in the |iolders of Public Service common and | S0Mery County. last_half hour leadership was assumed |g per cent preferred stocks commanded K, s by United States Steel. The flood of |an” jmmediate cash price in the open High Low Close. 407 BY GEORGE T. HUGHES. . " | wens ot tet4y. S5, 'acife Gaw 12) Pue Gas & K 1'ue 0N Sty 'dc Tel & Tet (7 Packard Mote3) Pan Am Petrolm Pan-Am Pet «B) Can Am W ianhanal Parmt-Fam( tark & Iiifora, . Park Utan 1300) Exchange By A, 0(a.87 1-3) Poeriess Motor . High Low Close B2l B20h B2 Qo 1 0 4~ Eisenlohr pf (T) 41ty .9 o 3 Mortgage Money Loaned At Low Ini t Rat. Tyler & Rutherford Keoresenting Mitnai Reneft Lite ins Lo 1320 & wtreer Main nt o 12% Kiectrlo Boat o~ 191 LI 187 (3 o AT | Atbany Paprezy 23 | Albany Paprrts 1y | Allied Chem (&) 1581 | Alled Cm of (1) 1 | Alis Chaim 18). zineers Pub 8 Eauit Blag (7)., o R R Hrie 1ar of B of. Fairbanks (3) ven hikiihi 40) Fed Min pf (7).. ¥1d Phoe Insib) . First NatSe1y) Fisk Rubber . Fisk Istuf (7)., Fleischmann(3). Foundatton Co.. First Mortgage Loans BY EDWARD C. STONE. syl Total bank clearings in Was - during the week ending March 15 were $25.498,000, revealing a decline from the | A™ AKTI Ch pf.. previous week when they amounted 10| am Br St 11 60) $27620,000 Clearings here also were | Am Brown Bow 82 per cent lower than they were last | A Btown Bo of Am Can 2).... wear in the corresponding period. g S nce it would seem that Lowest Intersat. ane Commismon Thomas J. Fisher & Company, Ine. 1st Trust Loans Any Amouant 1. C. and Montgomery County Am Axricy a“h 121 | a3 | Pty Have Yon Been Stung Yet? | 1387 1351 Richmond had a decline of about £2.000.000 from the previous week and reported a figure 17 per cent behind the same week last year. Baltimore, how- | ever was $14.000,000 ahead of the pre- vious week. although behind last year. | The country as a whole showed lighter | clearings than in the preceding week | and a decline from the totals for the | same period last vear, according to Bradstreet's Review. | Dividend Passed on Common. i An Associated Press dispatch from | New York today savs: Directors of Continental Baking Cor- ration have omitted the quarterly ividend of $1 a share on the ciass “A" common stock. A year ago the annual dividend rate was reduced from $8 to $4. The action followed belief of the directors that earnings for 1928 would be satisfactory, said M. l.ee Marshall, chairman. but that a large amount of cash could be spent to advantage in rehabilitating existing piants and con- | tinuance of this program should im- prove earnings. The quarterly dividend of $2 on |he‘ preferred stock was deciared. Amos L. Beaty, former chairman of the Texas Corporation, was elected a director. Latest Dividend Action. The directors of the United States Savings Bank have just declared their | regular quarterly dividend of 7'z per | cent, pavable March 31, 1928. The United States Savings Bank has a capi- | tal of $100.000. & surplus of tlSD.OM.; undivided profits of about $125.000. and total resources of nearly $3.000.000. The First National Co. of Baltimore has just declared a quarter dividend of 13, ‘per cent on its preferred stock. payable April 1 to stockholders of vecord March 20. Wade H. Cooper, oresident of the Continental Trust Co., is a director, and the Washington office s under the management of Col. G. W. | Pratt. Would Aid Country Bankers. With the purpose of considering means for further strengthening the sanking structure of the country by ncreased co-operation among bankers, ~specially in country districts, the Clearing House Section. Amecrican Bankers' Association. will sponsor a Kansas City The problem of mapping out and “ecommending definite plans for the nrganization and operation of regional rlearing house associations of from 50 Notes in World of Insurance. The Butterfield theatrical interests in | by far the most frequent cause of death today, to the -{nnuu report of the subjected is responsible. Neglected lnrectbm,p:'é‘g £ ot e s el B swell the number of ths attributed | o di 3 " ruling says that the board of regents of the University of Minnespolis has the authority to con- tract for p insurance faculty ;:‘ other employes. nsure several peo- DIQA:\n this way. oo | nouncement is made of a bequest | of $100.000 to establish an insurance | thair at Johns Hopkins. the work to be similer 5 that carried on for years in the University of Pennsylvania, New Jersey Debaters Victorious. The Institute debaters from !Aaexk County, N. J., defeated the team from | Richmond at' the Raleigh Hotel here | .t‘ night, lhéhlfllb being in charge of apter, with 1. J. Robe The debate .on -t tucellent speakers. The Virginians upheld the negative | 1€ of the argument, while the Jomay | en spoke in Sere Associate Justice Charles H. Robh 4 the Court of Appeals of the District of Columbia, President Joun Poole of the Federal-American National Bank $ad Raymond B. Dickey, dean of the | faculty of the Washington Chapter The New Jersey team was made up David C. Kirk, Danel L. Reider #nd Thomas M. Wood, while the Pichmond delegates included H. C. 8, | Patterson, Bamuel Poster and J. Joseph Msy. The committee of Washington Chapter, which had charge of the ar- | rangements for the debate and the enteriainment which followed, was | fomooed of James A Boper, Lineoin | National Benk, chairman: T. Hunton | 1eith, Becurity Bavings and Commereial | Pani. Miss ‘Lois A White, Pederal- | Americsn Nations! Bank: Mrs. Helen D. Reed, Linooin National, and ¥rank M Periey, American Security & Trust | 2 Previous 1o the debate the entertain. Ing chapler gave 8 dinner v the and dancing followed the oratory Southern's Business Gaining. Fairfex Harrison, president of th Bouthern Railwsy. sslled from New Yore for Europe sy, Before his de- parture he stated that business on the Bouthern s holding up well snd the | tendency 16 tward Amprovement, The Bouth s showing marked industrial progrese he asserved, snd he anticipates that the Bouthern Rallwsy's esrnings il show sn upwerd trend during the semeinder of the year 4 ELECTRICAL EQUIPMENT, BEW YORK., March 17 (0 Good | orders for elecirics] apparstus from the | LY ompanies urought the totsl vols | ume of business for the veek 1) 8 salis- factory ievel Elecirical World reports Ingusiriel ovrders for equipment were Up 1 the sierage “with inquiries on the miBrker from wextile pleile ana paper mille. Orfers for switching equipment | €sceeden §300,000 TRAFFIC HEAVIER NEW YORK reh 17 () treffic on the Chicago. Burlingun & Qulney picked up o the first 14 deys of March, 71165 carioads, sgainst 4125 & yeer agy LOSS 18 BEPORTED NEW YORK. Merch 11 (# Worn Coel Co reporis nel o of 81 96 for 1627, egelnet net proft of 4479, 00 tor 19ie Elk | Am Expre | Am Linsa pf( lamTel & | Am Tobaccot$). ! Brunswick Ter.. { Bucyrus-Erte (1) 27% | Cni M1 & $tP ot Jersey- | Ci the affrmative. The udges | G | Coca-Cola (b).. Freight | AmCan pf (7)., L & r&Fdy8) 106 ele (3) kid hte pr p(7) 110 Am Dru . L% W6 105y i 77 110 110 2% 12 1811y 180 24N 23E bl bl 3 Am & For Pow.. Am Hide & L pf. Am Ho P (240). Am lce ttly). . Am lnternati(2) Am LaFraFoum Am Linseed fola 33t 89 N 5% AW 100t 10074 L 100 100 100 Am Locomol (8) W 108% 108% Am Mch&Fdy(2) 174% 174% 172 M dee AU 40 dOW etal rts. .. 6. Am Metals uf(7) 120 120 20 Am P& Lttl). 75 9% 5% Am Radiator (B) 143% 143% 142% Am Ry Expi6).. 125k 128% 128l Am Republle . bl% bl% 61 Am Saf Razr4i§ 55 08 b68% Am Seatink (3). 41 41 41 Am Smelting(8) 177% 177'% 176% Am Stl Fdys (3) a 637y 6 Am St Fy pfe?) 112% 112% 2% Am Sugar...... 68 6l 67 Am Suxst Of(T) 106 106% 106 Am Sumatra.... 90% Elly S0 Am Tel & Ca (5) 5 ¥) 180 180% 168 168 166'y Am TobgccoBe¥) 163 1637 107t AmT [ P Am WW&Elc)) AmWWist pfe6) 1 Am Woolen. Am Wooien b Am Wril Pacits am Zinc.. Am Zine uf. Anacunda (3)... ArmourofliitA) ArmouroflileB) Asso Lry Gizig) Asso Ol (2) Atchisun 11 Atch T&S Fer 3 E AtCoast Litlu) 182% 184 AUGUIL&E WE., 40 41% 40 AUGUIEPE (3).. 48t 4Bl 4Tl 4) 107 108 10T% 10% 104 104 be bl bl S ¥ 8 Bl% B34 Sl BaldwinLoc (1) 272 272 272 Balto& U (8)... 116 1li4 1lo% Bang & Ar (3%) 7 19 76 Bank of Am 112) 44 T BankolCom(18) 556 Baiuel Leather. 33l Barnsdi Acbzig) L% Bayuk Cigars... 123 12¢ Bayuk 1St pf(7) 108% 109% 10! Beacon Ofl..eee 120 12 Beechnut (13).. T84 79 84 Beiding Bros (2) 20% 20% 20 26l bly 26y 64 65 64 61% 0 RN ool sl 55% 14 ) @ 408 40k 191 429 & 408 Hethlenemn Steel 60 | Betn St1 pf (7). 119% 119% 11s% Bloomingdale... sBis ¥ 38 Bimingdle pf(7) 110% 110% 110 BonAmi ClA(4) 68 65% 6% Booth Fisheries, 6l b4 6l Borden Mtk «6). 169 169 1681y 65% 634 63 Bri w54 6% L% Bkiyn-Edison 25y <28'% 2o 2 Bkiyn-Man (4). 63 65 Bklyn Un Gas(b 148 145 BrowaShoeiZig) 47w 47 Brunswick B (3) 364 177 Bucyruscv 12%4) 36 Burns BrosA(8) 94% 99% yo'y 61 110 b bl 99 25'% i3l 24 ”" 20% 2 64% 64 2164 215 215% 271% 270 2704 318 . 02 1014 vz Cal Petm cfs (1) 254 Canit Packe (4). " Callahan Zin Caiumet & Ar8 Calu & Hecla (3) 4% 24 £ 2 21 = Zen Ry NJ (112) 320 Cero de Pascoid) 63 Certain Teed 14) 7' Certo Corpn(14) 3% Chand-Cleve.... b b Chandler Mot pf. 14 14'a Chat-Ph Bke18) 617' 614 Ches & OB10(10) 194% 199 C&UCoryn (8). 1% 19 Chi & Aito % Chi& Altouof.. 11 1l% Ch. & East 111... 40% 42 Chi & kast 11l ot 71 % 21 264 a2 0l & Nwn o 4) . H6a ni & Nwn pfe7) 141 Chi ue Lool (6) 130 130 130 140 Pac (8), 112 11t 111 112 o 10m% 10B% 10814 1044 a5 35 a2 3a T3% T3n bW by 144 14, 61i's 618 194% 195 % 1% % T 1% 114 404 42 s T4 24 1 Lt 26% hhia BB 141 1L 141 Chi Gt West pf. Chi M & Bt P.. 26% a2 a4 " T LI 1140 1e 6da Hbla B4 B 116% 11h's 115% 115% »7 r7'a 8l sl% B2 824 R2% 82\ Ciuett Pesb 18). 100 100 9R'a unla . 4na 138 38 i w7 By Bbly 102102 101 LoiY a2% BN 0% R0% W Wy 90l Christf 8 (1.20). Chrveier Cor (3) Chrysier pfA(¥) City Stores «¥) ClevaAPItstd ') Coilins & Alk(4) CollinadA pf(7) Cot Fuel & | Cot G Col C4 4 Com Creas))... Lh ComCred Ist 6% 04 ComCr ot B2y 24% 24 24'% Com InvTrasy. 60% 6l Kol Com Solentas). 179 1794 177 Com Pow (2'4). 68 9% 6nia Congoleum-Nair 26 Zb'a Cong Cigareis'h Con Clgeiaily. . o 7 9 » 1 1% 1% 138 135 147% ' 102% 102% 102' Wy G G0 T0% % 3% A 24 1 a4 4% onCAg prof (8%, ) Convaines Cont Bakjn Zont Baking 1., Cont Ee¥ pf 18), Cont Can ¢ ¥ Cont inaus ¢ %y Conr Mont (8ie) 190 orm Fro 113), oty 106 (g6) ... 10% (o 1440 144 RN b2% a8 a8 1 s 1485 148 1o (B0 b B a1 149% 1494 PUST T i [V Cuyemel ¥r ity L vison Ol el & Mun 9y, el L& W ivT) A b fLI1280) 10 17, 1 44l B0 LAty B b [T | Lodse ui | 1hame Minew (1) forug I [T DUl 8 & Atinn . A [ unnilt bt gy, b DR | Duon Aeneiny 468 461 i ont den 1 8) 115 116 “ L 1650, 18R, ». A2te A2a kisenlons & Bre. 18 1§ 1165 Ihany auy ie 18 Y1) Nt Luaus 16) Fox Film A (41, Freeport 1131, Gabriel Snub A. Gardner Motor. . Gen Am I'nkie). (Gen Asphait. ... Gan Asph uf (5). Genera! Cable. .. tien abie Avd). Gen Clgars t4).. en Kleo (16). . enklec spibie) Gen Mot of (7). Gen Vutdr Ad(3) Gen Ry Sig (6). Gen Refrac Gullette Raz (5). Glmbel Bros. ... Gimbl Br 7). Gl.dden Co. Gold Dust (3)... Goodrich Ru 14) Goodyich pf ¢7) Goodyeut Fire Goodvr 18t pfi1) Gothm His 12%. Gothm new 1% . Gotham H pt «7) Graham-Paige. . Granby Con Min Gt Nor pf cfat3) Grt North pf «5) GrtNor O (1%) Grt Wn Sug 2 80 Gireen Canan Gulf Mo & Hanna it pf. Hartnin B11.20)., Hershey Corp. .. Hershey vf 14).. Hershv p1 nfe6 Howe Sound (4) Hud Man (2%). Hudson Mot (5). Hupp Moti1.40) tllinots Cen (7). tndeu il (1)... Lndian Mot (1) Indian Ketining . ndlan Kefy cifs ngersoll Rd«1h) tnid Sti (p16%). Iuspiration Copr InterborokapTr. utl lkubtl) AR 10t Agricul prior tut Bus Ma 51, int Cement (4).. int Com Eng (2) t Harv (J6)... Inter Har pt (7). tntdMten ufed 20) int Mer Mar pt. int Nickei (2). .. Latl Paper (2. 1ot Paver uf (7) tsland Creek (4) Johns-Maran(3) Jordan Motor. Kan City Sout Kan C 8o uf (4). aayser J 14). < r(rights). eith-Albee-Orp Kenuecott C(8). Kiuney vf «8)... Kraft(gl%) (BH)I). Groeicl) 1 elber.. Lambert (16% ). LenignValidin) Lehn & Kink(3), LifeSav ¢l 80). Lig&MyersB(v5) L 160) Loriliara Co. Louisiana U1, LouistiasAt1.75) Louts & Nash(7) Ludium Steeli2) SlcAndrews 2.60 Mack Lruck «8 Slackay (7). Mackay pf (4).. Slad Ba Gr (1%) Magma Cop 13). Matlison & Mailison ut (1), E18up (5). o O, .. Market Street. Mariang ... Mariin-tocke2), Marun Varry, Matniesou Al ot uf 183 Mid Slates VIl et Midlustia vl iiz) Min 8L P&SSM 5o Kau# les.. Mo K&Tes uf17) Minsouri Montane Fow + MontgniryWurk Moun Motor.... Motor Whi . Sulting Mfg. ..., Munsingwt (3). Murray Corp... b NatCush 1A Nat! Datry (3) wt Knamel & 8. Nat Pows it Nut itadiatoris) NY ety N CARI L NYCHLuti8) NY Ch kBl YU pf i NY & Hue plei) AYNHaHaU) Roan NY OUni& Wa,, NY Hatiweye ot Ny wiwain ol 8) NY Bunof AT Norfolk Bouth, . Norfolk&Wiii0) Nt Al 0% 8 North Am ul (8) NOHIN a0 i8) ., Nt Pao efaih) Northwn Tel 13) DN A el Wy r Phila& RC&) cfs. hitiv Alorris, Phillips. Phillipa b . Phoenix Hosiery Hieice- Artow. .. PierceUll. . ... Vierce Petroim. Pilisbury «1 80). Pitts Coal. Pitts Coal of. PUISKEW VaiB). Porto Rico To A Poito Kico To B Pastum 16D, ... Pressed Stl Car. Prod & Ketin PPub Serv NJi2). Pullman Co (4). Punta Aleg Sug. Pure Oit (5Ce)... Purity Bak B (2} PurityBak pf(7) Radlo Corp of A Radio Cpf (3%) Reading Ry (4). Reading 2d (2).. tteal Silk Ho Reminuin Rund., m-Rd 18t(7). Mot (11.20) itep It & Stl «4) Reynoide Spn: KeynldsTobB(§) Riehfield O11 (1), | ltossia Inw (6) Royal Da3 13%. St Jos Lead (13) STL&Sen ¥ (18 StL&SFran (rts) St L&Southwest. Savage Arma. Schulte (3%). Seabd Alr Line. Seab Air L of. Sears-R (n2l). '* | Seneca Copper. . ¥ ) Shattuck K G (3) 44% | Snelt Un «1 40, o Shubert The (5) L6% { Simmons (3) 1 | Simms Pe 12' | Singlair Ol 12 Skelly Olf (2). 0'a | Snider Packg Co bl So I'or Ric S(f2) 157 | South Por pt(8) South Canf Kd. South Dairy 0% Ay Wity 1004 Southern Ry ¢8) SouRyM&Octs ¢ Spear & Co..... Spear&Co pf (1) Spicer Mfg..... SIHG&E(3%). SWAG& Bt (4) | Sta M 5). Std Mg of ¢ StandO Caliz ) SOILNI Tl 1) Std OINY (1 60) Std Plate Glass, Std Pl Glasa .. Sterls Prod(17). Stewart-War (§) Strom Car (2)., Studebuker (5). Symington Cl A, } Tenn Copper (1) Cexas Corpn 3) Gulf Sul «4) 63y T0n| Thatcher Mtx. Tha & | Twin City R (4). | Uawa-E1 ¥ (4) Un Bag&Paper Unton Carb (8). Utd Biseut pfi7) ULdUKrst Caue) Utd Cgt St pl8) United Lrug (9) 2 Utd Fruitirbiyg) USCIP&FIIV) : UuscipPpt(n, U 5 Distributing U B Hoffm U S Alcon U S Leather A.. U S leaity U B itubber | U Hub 1t (8), UsSmelt t3iy). USSiee (1) U s S uni Leu Ui Fipe & B2y Ui Pio 181 pf(8) UL Paelt Ace2). Vivadou 1b1o). . Vivaudou of (1) Vulcan Letin, .. Ward CI A (8 Ward Baking #. Ward Huk pf (1) Warne: FIOA, ., w W Feun kil vt (1 West I Po (8),. w P Vo uti 1) White Motora(1) White Hyck wh dndy Yate (LTI 20ty “ Wty bty i N wiven 1) the Ktwiva (ayie avinente based un the Wouiwarth by, Worthn Pump, . Worth Futip oM Wrikht Amio (3), Wrikley W 1dig s, s 0% h sty i auarely i iy ! el 0 bt bty !. ¥, o 0 etar U et 10R"y T4l (¥ Four violine were sold 1 auetion In London recently for 97,18 »{ the_two-million-share mark. The total | day. orders as the session drew to a close made the tape 40 minutes late. General Motors after making a new high early in the session was subjected to heavy realizing and left off at 1685, United States Steel closed at 147 and New York Central left off at 171} In volume of sales it was the second Saturday in history that they expected of 2.139,600 <hares compared with th previous record of 2,225,000 shares on | March 10. Both Make New Highs. General Motors and New York Cen- tral, the two stars of their respective groups, both made new highs again to- General Motors started In up from its preceding close, in itself a new high record, and then under another heavy turnover advanced above 171 or within hailing distance of the objective or 175 so widely advertised in brokers’ offices. New York Central in similar fashlon opened at a new peak and crossing 174 was within a small fraction of the highest for all time recorded back in 1901. It has never sold at today's price between 1901 and now. The demonstration In New York Cen- | tral was accompanied by a dozen or so new highs in other railroad stocks. | There was hardly a laggard either in! the dividend paying or in the low| priced section. Among the features, were Great Northern preferred, across' par; Southern Railway, above 148 and | within a fraction of the highest for all time: Pennsylvania, approaching 68, and practically at its best in a decade; Reading, Baltimore & Ohlo, Jersey Cen- tral, Canadian Pacific and Rock Island. Profit-Taking Alds Market. Of course, there was profit-taking, which carried prices down from the top before the close, but in the main the strength was well maintained. The utilities were represented by American Power & Light and Consolidated Gas. The first named made a new 1928 high. This swinging into line of both rails and utilities did much to inspire con- fidence in the general character of the advance in industrials. Steel came to the front in the last half hour, which was the one thing needed to complete the picture. “The independent motors stocks were not as active as in recent sessions, but were fairly well supported. The turnover was not as large in the first hour as on Friday, but the pace quickened in the second half of the session. CHICAGO, March 17 (United States Department of Agriculture) —Hogs— Recelpts, 9,000 head; market aciive; steady to strong with yesterday's aver- age: largely to shippers; closed dull; weak to 10 lower; top, 8.65 paid for closely sorted 180 to 200 pound weights; bulk better grades 170 to 220 pound averages, 8.40 to 8.60; medium kinds down to 8.00; good and choice 230 to 260 pound butchers, 8.10 to 8.40; 280 to 340 pound weights. 7.85 to 8. bulk pigs, 6.50 to 7.25: packing sows largely 6.90 to 7.40; estimated hold- over, 4,000 A week ago, good to choice weighty fed steers 50 lower: spots 75 lowi mon and medium steers 25 lower; light yearlings steady; cholce fat kinds 25 lower; tters showing comparable downturns; in-between grades fat cows mostly steady; bulls steady to 25 lower; vealers largely 1.00 off; week's extreme top fed steers, 15.23: closing top for choice offerings, 14.75; lowest since Regumbrr; best long yearlings, 14.65: light mixed yearlings, 14.00: light heifers, . active yearling heifer trade at 11.50a12.50; most fed steers with weights, 12.50a14.00; most fat cows, 7.0009.50; kinds selling above 10.00 showing downturn. Sheep—Recelpts, 3,000 head; practi cally none on sale today; for weel At Iambs closing 25 to 50 higher; heavies and clipped lambs showing most up- turn; the week's top prices, cholce handy weight lambs, 16.75; kinds good enough to pass, 16.35, scarce; bulk wooled lambs including most 89 to 99 pound Colorados, 15.50 to 16.25; sca tering of medium kinds down to 15.00; extreme weight throwouts, 14.50 to 14.85; clipped lambs, 13.00 to 14.13; slaughter yearlings, 13.65 to 14.00; fat ewes, scarce; strong, 9.00 to 9.50. POTATO MARKET —ngADY. CHICAGO, March 17 (United States Department of Agriculture).—Potatoes ~Recelpts, 119 cars; on track, 420 cars: total United States shipments, 813 car: demand and movement moderate, mar- ket steady; Florida Bliss Triumphs, crates, 4.00; Spaulding Rose, hampers, 4.50.. Old stock, Wisconsin, . sacked. round whites, 2.15a2.25; Idaho, sacked, | russet Burbanks, 2.60a2.85; commercial, 2.00a2.25. BUTTER IS HIGHER. CHICAGO, March 17 (P).—Bitter higher; recelpts, 12, Creamery extras, 48; standards, 48',; extra firsts, 4612047, firsts, 44! !3: seconds, 41a 43!, Eggs, lower: receipts, 26,924 cases; firsts, 27, ordinary firsts, 26, NEW YORK MARKETS. - NEW YORK, March 17 (#).—Flour firm; soft Winter stralghts, 7.10a7.30; hard Winter straights, 7.15a7.40. Rye firm; No. ? Western, 1.34), fob New York, and 132!, clf. export, Pork irregular; mess, 3100 family, 32.50a 34.50. Lard firmer; Middle West, 11.80 al1.90. Other articles unchanged. FAILURES DECREASE NEW YORK, March 17 (4 —Com- mercial fatlures fix the United States this week are figured at 476 by R. G. un & Co, st 510 the week before and 470 a year ago. " DIVIDENDS. Te. Pay. Hate. riod. abl $105 9A Al ; B B v EiAp iy wil 5 Company Salamandra ; \ i 9 N A : AA R KRy et iy i Crown Fiane pf, $1 Criivible » Frankiin i Poarl MOBET (i Petrateum oyl i SRS~ sz BZZZ ETICRRZZZIEREECEERL T pers iz 3 . Zam ; | principal ‘amount of debentures. Cattle—Recelpts, 200 head; compared |~ market., The explanation was that the bonds carrfed a eonversion option into com- mon stock exerciseable at any time on or before February 1, 1930 on the basis of 22 shares of stock for each u,o:o t the fssue price of 98 the equivalent quotation on this basis for'the stock would be- $44.5¢ a-share. The stock was selling” more than 2 points under this price when the offer was made. It will be seen then that while the option of conversion had no present value investors took into account the fact that they had two years in which to exchange the bonds for the stock. In other words they had a two-year “call” on Publle Service of New Jersey common stock at a figure which they might reasonably expect to mean -a substantial profit at sometime or other during that period. The advantage the stockholder has over the bondholder becomes evident in just such situations as this one. Stockholders received the preference in subscribing to these bonds, a prefer- ence which was in effect an extra dividend because if they did not care to avail themselves of the opportunity they eould sell their “rights” to some- | one else.” ———e PLAN REORGANIZATION. NEW YORK, March .17 (#).—Re- organization of the Jones Bros. Tea Co. as the Grand Union Co. was proposed | yesterday in an offer to stockholders, Stock in the new company, under the plan, will be exchanged for that of the old on a share-for-share basis. All | the preferred stock of the Jones Bros. Tea Co. and all the stock of the Oneld: County Creameries Co. are to be ac- quired by the Grand Union Co. RUBBER IS HIGHER. NEW YORK, March 17 (Special).— Crude rubber, smoked ribbed sheets, ad- vanced !; at today's quotation of 25';. This compares with 32 cents a month ago and 42 cents a year ago. COTTON GOODS EAAIEI.. NEW YORK, March 17 (Special).— Cotton goods markets were moderately active today. Print cloth quotations slipped off 34 at 7's for 64x60s. and remained unchanged at 8'; for 68x72s. H-ll'klfln were unchanged in & quiet market. R - o PRICES ON PARIS BOURSE. PARIS, March 17 (#).—Prices were firm on the Bourse today. Three per cent rentes, 67 francs 50 centimes; § per cent loan, 87 francs 80 centimes; exchange on London, 124 franes 2 centimes. Thé dollar was quoted at 25 francs, 41'; centimes. CHICAGO STOCK MARKET. By Special lnased Wire to The Star. "GHICAGO. March ' 17.—Following 18 a report of today’s salés, high, low closing quotations on the Chicago Stock Exchange. Hgh low. Close. L L Asso” Ty C 5600 Auburn Motor $800 Bastian 500 Huxter Laund A. 750 Renaix: . iub Aluminuni. A8 Commonweal Ed on Film I ofd ‘onsumers Co. . 104, amers Co pd 0413 umers War 100 50 00 120 Mid W s ntd A0 Mid West Ut} 3000 Mid West U pt'r 0 MW Util 37 pf 19813 1 ETIEN v Ward 140 1 v WA 4 nowar 18 flye nd 1 Autom 50 Vates 3 180 Yellow 208 Zonith Rt B4 Total sales, 70,000 shaves BONDS. 4000 Rloominston 1, 4a 81 00 Chi ¢ e on A1ye 100 i oo 0 00 ' 28000 U P BO00 Un Pul 10 BO0O Wil 100 ROSTON STOCK MARKET. By Special Lewsed Wire ta The Sta March 17— Folloving is a | highest, loweat and clo prices for the most active stocks dealt In here N Righ. Low. Close 4 L N al (RIS Vio o bl i LIS Wanck*t 0 88 Warrga B Some men. have Lo get stung good and hard before they learn to be cau- tious in making Investments. Before you Invest—investigate. MARTINIQUE SHIPS BANANAS. | MARTINIQUE. — Banana farmers | have organized to promote export ship- | ments and encourage cultivation. The new company plans to build a cold stor- | age plant at Fort de France. Money to Loan | i for LOANS on H. L. RUST FERST: Men able of a Century Without a Loss 6% does Main 2100 THERE IS. NO own business. SUBSTITUTE Large Construction Proiects FRED T. NESBIT: 1010 Vermont Ave " oz In Nelrby Virginia 5]/2% Prudential Insurance Co. | Commonwealth Investment Co. » Loans 15th St NW. Phone Main 2062 APPLICATIONS INVITED IMPROVED PROPERTY Located in the Dist and adjacent Suburbs of Montgomery and Prince Georges Counties, Md. 5%2% INTEREST t of Columbia Apply to COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY of AMERICA 1001 15th Street N.W. Main 8100 Ideal for Bucy Men whose capital is so in- vested that it requires watch- - ing constantly, seldom are to concentrate on their For such men our— ;- FIRST MORTGAGES —are an ideal investment. The principal is protected and not fluctuate. The in- terest comes at regular inter- vals and always on time, B. F. SAUL CO. 925 15th St. N.W, FOR SAFETY Concerning Polyps OLYPS are They have bodies, live in small aveas like tiny mollusks. no bones in their Instead they have a hard outside shell. Millions of them in the South Sea. When they die the shells drift down to the bottom of the sea to form piles of rock-like matter—ree and atolls. The manner in which reefs and atolls are built up is similar to the way in which most fortunes are accumulated—by add- ing just a little at a time. But one must be sure that the little will be in safe hands, and that is the reason so many savers invest their surplus earnings in the First Mortgage Notes offered by Swartzell, Rheem & Hensey Company. Thus, they are able to watch their for- tune grow with the assurance that what they have already laid aside will remain intact, Let us Show you how quickly your for tune will grow when your savings earn 6% as you save. Swartzell, Rhoem S H - enseyCo. TRTSth. Street. X A8 Years Without L . Washdhon BC. oss to dn [nvestor