Evening Star Newspaper, April 11, 1928, Page 11

MANY NEW HIGHS ON CURB EXCHANGE Price Gains in Selected Lead- ers Substantial in To- day’s Dealings. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star, NEW YORK, April 11.—Stocks were bid up on the Curb Market today, many % new high prices, with the demand &S urgent in Several issues as at any time during the prolonged campaign for the rise. Six per cent money had no more effect on the Curb than it did on_the Stock Exchange. Not all issues shared in the upturn, but price appreciation in those selected for leadership was sharp enough to distract attention from others that were subjected to liquidation. Among low-priced favorites Indus- trial Rayon Corporation stood out prom- fnently at a new high above 23%. | Rumors were current of a plan of re- capitalization which if approved would | leave the company with only one class | of stock and no funded debt | The special operation that has been | rogress for some time in Sparks | Withington kept on, carrying the price 1o its best at 82. Evidently the marxet position of the stock was responsible more than anything else in the form of increased dividend prospects and larger earnings. Warner Bros'. Pictures, E. S. Evans, class B, and Fajardo Sugar went to their best prices. Phelps Dodge at a fresh top was discounting benefits to be derived by the decision to refine its own produc- tion through acquisition of a part in- terest in another refinery. Denial by the president of Columbia Graphophone that his company was negotiating a merger with Victor Talking Machine | had only temporary effect upon the | market for the former shares. After & break of more than two points the price came back readily. Brockway Motors continued te dis- count the placing of the stock on a definite annual $3 basis, and special strength was noted in Auburn Auto. Oils were less prominent in the day's Proceedings. e T S Washington Stock Exchange Sales. ‘Wash. Gas 65 “A"—$1,000 at 1053, Pot. Elec. 5'2% pfd.—10 at 10813, § 108%. ‘Wash. Gas Lt —11 at 90, 10 at 90, § at 90, 100 at 90, 89 at 90, 10 at 90. Com’ Natl Bk.—10 at 260, 15 at 260, 10 at 260. Nat'l Bank of Wash.—1 at 315, 1 at 315. Nat’l Union Fire Ins. Co.—25 at 24. Col. Sand & Gravel pfd—10 at 10015, 5 at 100;, 20 at 100!, 20 at 100%3, 10 at 100'5. 5 at 100 Com'l Nat'l Co. pfd.—5 at 105. Ped.-American Co. com.—15 at 39. Ped.-American Co. pfd.—5 at 108, 10 at 108. Lanston Mon.—9 at 109, 10 at 1093, § at 1093;. Mergenthaler Lin.—10 at 103, 10 at 1031, 4 at 103, 10 at 103%. Natl gl & Inv. pfd—S50 at 53;, S50 at 53;. Peoples Drug Str. pfd.—7 at 12734, Sanitary Grocery Co. pfd.—5 at 109, 5 at 109. After Call. Pot. Elec. 6% pfd—2 at 113, 10 at 112%, 10 at 113, 10 at 113. ‘Wash. Gas Lt—10 at 90, 200 at 90, 100 10 at in at 90, 10 at 90%. Mergenthaler Lin—10 at 103%, 103%. Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. | BONDS. PUBLIC UTILITY Amer. Tel. & Telza. 4% Amer. Tel. & Telxa. 4% Am. Tel. & Tel. el tr. 5e.." Avacostia & Pot. B R 5s... Ana. & Pot guar. be...... C. & P. Telephons 5s.. .. & P. Tel. of Va. 5. apital Traction R R. s Gity & Suburban bs. Georgetown Gas 1t b8 Putomae Elec. 1ot 5 tomar s 1953 Potomac Elec e Wash. Alex & Mt Wash Alex & Mt V_ ctis Washinglon Arcade 6 Wash. Bait. & Annap. Washington Gas ba. . . Gas s, series AL . Gas 62 mries B w5 Zlec. 4%.. . BEwy. & Elec. gen 8s MISCELLANEOUS Wash. Chestut Farms Dairy §isa Chevy Chase Club 5i4s. b cC l’l'w")l!: L Bk Bt oMh Eoka Shorare Ba Warh Title 6s. ark Hotel & ; STOCKS. PUBLIC UTILITY, & Teiga. ... ¢ P | 1is % 1% b o 12 NATIONAL BANK Capital Wash. Rwy 1 Bank of Was TRUST COMPANY T & Trist SAVINGS BANK YORK. A 1AW et ve we signs of pros the indicetions men comirects running Incresse of more st -guarter steel first quarter of NEW Bireet ahewd of B Yeul o & Cuan 400000 Wwns r production by many companies, & gain of 16 per cent in chair store first-quar- | ter sales over & year ago, consumption | of copper larger then ever, gasoline | consumption 15 per cent shesd of | yeur @go, wnd new high records 1,.' Block Exchange tren BOLIONS. | TELEGRAPH EARNINGS UP, | NEW YORE, April 11 () —American | District ‘Telegraph Co. (New .Jrnry,l onrned » share on Lhe eommon in m" “flur preferved dividends, THE EVENING NEW YORK CURB MARKET Recsived by Private Wire Direct te The Star Office Following is a list of stocks and bonds traded in on the New York Curb Market today: Sal INDUSTRIALS indreds. o cetol Prod 4 Acme Steel Aero Sup Mf¢ A 1 Aero_Sun Mtx B 7AIb P Bar A ptd 1 Allison_Drug ‘A 15 Alum Co Amer. ; 134 4 Alum Co Am pfd 1001 47Am & F Pow w 101 GAm & F Po 1 pd G0% 2 Amer Arch Co.. 85 1 Amer_Colortype. 4 Am Cyanamid B. 2 Amer. Dept Stor 5Am Gas & El. . 11 Am Hawailan S§ 21y Amer Lt & Trac 13 Amer MNix 3 Amer Nat Gas 0 TAm Po & L ptd 10714 3 Am Rayon Prod 1 18 Am Rolling Mill 102 1Am § & Ch vie. 1% 5 Am States B.". ¢ Superpo ‘A 458 er Superpo B 464 2 Amer Superp 1 pf 10:1 1y 1'Am Thread C pfa 1y Arizona Power Armstrong Cork n 83 rker Bros W 1 Rarnsdall_deb iy Rastian Blessing . 3 3 Rklyn Shoes Ini 415 Rohack H C C nf 109 Rohn Alum & Br 6 S Brill (gro B b ot rriera Plow » i et A n pfd 1088 Cen Aguirre Sug 13 ‘::-‘ 1iin 0% FErE elan ( o5 Zantan ent St EL pfd. 3 Spr & Bum k Cab Mig. 26 Co wid. . 110 . 6s pld 1 Lighter A Tten e Lo lumb_El mmonwith Ed 1 conmonw P pd *10 11 Consol Coal .. msol Dairy ‘P neol Film . . Film " ptd 50 Consol Laund .. Dominion_ St Li bilier C & R.. ast S Bo & Sh Co Bo & Sh pfd1 Invest Inc P & L optl war E P & L pid Al tey Welte C A tey Weite C B BESPE e FEE L 30 Federal Water ‘A 14 Fireman's Fund 1 Firestone Tire. . 13 Ford Mot Co_ Can 3 Forhan Co A0 1 kL '+ (] 8 5 121 177 586 5 1 ® N 1 Galesbure C & D 1 Galv_Fouston EI G Iee Cream Lanod_Mach Pub Ser. . Glen Alden Coal 150 % 2 Gobel A o 1Gold Seal Elec. 10% 1 Gorham Mic. .. 818 % Gr ARP TC1ptd 118 = k) Lamp..... 14% & H Printing iness C Si 3 Hey Chem . 1 Hires Ch_A. Holland Furance Huylers .... 2 Huylers »nfd Hygrade Food. .. 75 Ind Ray Cor A 1Intl Shoe. . 5Intern Utii ‘B 3 Interst D st. oszsn 22 S8R RE PIESGSE S RS 7 Marmon Mot ... 7 Marion 8 Sh . Mass Gas Co . Mavis Corp 15 Mavis Bottling. X Mav Drug Store. 2 McKeesport Tin P 601 4 Mead Johnson 5 1 Mely Shoe . Mengel Box | > Mesabi Tro Met 6 & 60 8 pf Mohawk Hu war Mohawk Val... SEERSRIEE R Mu Rad Radio Nat EI Pow A El Po A pf Pub Ser A P8 war Sug R N1 Teage Journl ner Bros n Neiwner Br n pf1] Nelson H 2 New Amst Casual F 6 Fng Nere Dru “in” Dodge Cor Guvernor Wikkly 3 & Lake ¥ S Piait & Lamb ( o Proct & Gamble kPus 5 P & 1. Pue % P & 10t iy Puk SPEL p pld Y Pyrene Mix 1OH & C 5 ottt ot Hobho Sate T $Lat way Stores by Thmb Det Axle nf 108 2 iehman Kealty uly Prod Kxport U S S ‘Rub Ree A 1P & L vie'R irginia Rwy vie 1 1 1 b 1 v W Wa Was Wa Wen O & Sn ¥ West Auto A. X Sup 'w 2233 PR R Rd St P ey 3 Wme Oil-0-Mat H 208 Wire Wheal Corp 1 Worth Tne A 1 Young 8 & T v bt Youne St w Young St pid Salea in MIN hundreds e nglo fiekie Metals. 5 60 Divide 10 Dolores Esper, 40 Flor. Goldfid M olden Center oldfid_ Cons. . 55 Hud Ba 1 New Cornelin 10 Newmont - Miniiy N i 12 Noranda . 3 North Butte. . 4 Ohio Cop 30 Parmac P M’ Ltd 1P N n bundred; 59 Am Con 12 Am Maracaib 1Argo Ol .. 1 Brit-Am Oil 30 Cardinal Pet 3 Cit Serv 281 Cit_Serv D13 Tl B8 DE100 Y 10014 Cor... 1% 1K Gult Oil Pa i Houston Gu Gas Intercontl Pet Rirby Pet Leonard Oil Ol ... e Star G Del SUG D rte wi al’ Svod ay Oil nd Mex i Mount & Mount Prod Fuel B o d 108 Pantep 80 Reiter-Foster” ‘01l 6 Rich O C pd ww 7 Royal Con O&R n_Con : b Salt Ck 204 Texan' OIl & L. idal Osage ( Tid Os O non vt i ozl ransc O1l pfd 10 Venezuelan Pet.. 3 Wilcox O & G 1 Sales in units AND FORMER SUBSIDIARIES 100 Anglo Am Oil 198 100 Atl Lobos 200 Borne Scry 400 Buckese P L. ] 1600 Contl On .. 300 Eureka P 1. .. 1300 Humble Oif & R 10011 P L.. 400 Inter._Pet "¢ Lid 200 Nat Transt . )0 Ohio Oil . . 8800 Pean Mex Fuiel. . 1000 Prairie O & G ith Penn '?, O Kansas 50 % O Ohio Sales in thousands. 1 Abbott T 53 Ala_Po, 11 Alum_ Co BONDS en 68 100 % 4ias. . 1004 A 5a 1033 by Ba vety 1001 100 1033 o 1001 1ot 00 8 * lowit 1003, i) 1014 10414 Gus 6% 100% n Pow & Lt Os 100 14 Rad 4% .. 1001} Roll ‘Mill b3 wipse Solvent 61g 1013 Seating ts.. 104 14 Thread C a 101%s 1 Anaconda the A. - 101 101 w1047 12 Avsoc Elec 5335 108 2 Aw Sim Har 6138 11T, Can B A 1054 Il T Can 85 B 10314 9910 wton Con G 6 104 3, 1 Gen El be A 1048 aro P & L Bu.. 1041 s it Serv da it Ser Gan b it Ser G Py it Ser Pow B 11 Comw Ed %5 D 10 25 S o & Salt Lk 6 et Cty G 6x A det Cty G t Intl 6340, Gas A334°A Retric tn T O & R BYs 9 b Morse 5a T'& R b Tire Bige. . P& L b obt Sig Pet 7x ineau P ineau Pow ts Ao Ba A ww cw Cream 6155 Layn Ma 6%a Gen' Vend 0y Georwia Po TaRC OFETy air T RN ina 634 Indian Pal, 7InUl Match ba NI & ehigh Pow fis A b McN & LB d iy 15 104 % 1048} 1015 00 104 100 101 7% NYP LT 414n Nich & 8h 6s ww Ror P e % Obio Pow 4754 D POAAI0) T oa BPOK 65 A ww 5 Pl Bubiirh 4 Vs 2 Philitn P ) Piits Stecl 6, 14 1 Ser E&G 41y 1480 Bub Ser 0 J 41} 5 Purity Tak bn BB GRE b s A 1 Rel Storen ta A6 Richfi'd O e in A 00" A K [ 11810 Cal K Ba b 1 G 10014 Y b, o Stand 1 & 1, po A mun Maid 00,8 2 %un O b Wi W P61 7 Warn Quinian i b Webster MII604e i) 4, B0 Wab K 416 1WA A7 1§ Wewte o higs A 1004 1 Wiss Con fin (e FOREIGN BONDS, Floo T thoeand 14 Riviatie fAe Mu b W Antioanie 7e B, 0 Bank Friseis fa 78 00 4710) i 17 Watvie Pei 4 o 7 hatvin Pol 4 s’ " Buenow A e R 100 8 nion A Ty 404 mela & W "N 2k Cant BoG 8 w11 D Iitom & 7 Bae woel o Civgha Are Fol g0 o0 (I ERITE Cuh Fel | i 1 8y s ORI oK b 0 a it STAR, WASHINGTON, D. €, WEDNESDAY, 881 1008 0515 % Pt 6. A8 1 g b1y Free Sta'h o Hyd 7 8 Mor Bk Tiogo i 5Mor Bk Chile & 5 Mor Bk Bix 3] 1 Sauda Falls aR Serba 7 R 70 Shinyetsu 16 wa 0415 46 wa 061 51,8101 v 78 A 1101 TOA ww DRy Wle.. 901 A Ox 011y &ty 03 *Ex-dividend SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) —Close Bid. Offor. Allis ¢ X 101 Alum Co. o Amer, Tel. & Tel. Co Am. Wat Wke. & E. § 1n Conper ¢ & Ohio s 1% 10 Petrolenm Co’ 4348 1 Corp. Bian 19 Rwy, 413 1080 Rwy. 41is 1035 10 1001 100 1001 1007 100 10815 FiiEN 105 1035 10 1001 1083} 10214 1081 1081 Pl L il i Rwy. Co 4 Boston 4s 1928 1930 Oregon Short L Bore Oif Corp. 554 1047 - Shell Union Oil Co. 3e 194 fther Pac. R. R. 4 Oil of M ey St LMt & S0 R s Swift & ¢ Be 1032 Oil Co. Calif Selting Con B ian T entorn Electine o, 63 1044 Wertghotise B & M1 5a 1910 ] Wheeling Stl. Cor. Hlga 1048 1031 1047 proven resul LIVE STOCK TRADE | OUTL00K BETTER Heavy Marketing of Animals Expected to Aid Values. Cheaper Corn Seen. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, April 11.—The prospect for lve stock and profits for the live stock raiser are bright today. There is a prospective decrease in the num- bers of animals on the farms because of heavy marketings in the last year, and this is calculated to mean highest prices. Returns from corn in the last year have been excellent for farmers who have had corn of merchantable quality. Because of present high prices the acreage planted to corn will be heavy, and if a good crop comes through, the cost of corn is likely to be low. This will mean cheaper feed for the stock raiser and also that the will buy more animals so as to market his corn in the form of meat. Pr this time a year ago. Beef steers are 50 per cent higher, lambs are 4 per cent up, but hogs are 30 per cent lower. Cattle and sheep have been making plenty of money in the last few months and the hog returns have not been as bad as the slump in prices would in- dicate. The actual amount of money which has come into the hands of farmers from hogs is less than 10 per cent smaller than in 1927, although prices are 30 per cent down. Higher Hog Outlook. The outlook is for higher hog values |in th: coming months. There is no |farms and_heavy marketings have cut | down supplies. |be a distinct shortage, however, until I next year at the earliest. Beef is too high-priced still to move ts! corn grower | s are relatively higher than at| burdensome surplus of hogs on the | There is not likely to| readily in competition with cheaper cuts, and, as a result, beef prices have dropped some, but there is not likely to be cheap meat for a long while to come. In the meantime pork cuts are being taken instead of beef, but it s impossible to get around the fact that cattle sugpl“'s are extremely low and that marketings this year will probably be 10 per cent under those 1927. In addition the dairying Industry is in fine shape and authorities feel that the position of the industry is secure despite some drop in dairy product prices. Hides are high and the leather industry is showing better returns, all of which means added money in the farmers’ pockets. The average hide is worth $6 to'$7 more than a year ago. Live stock has come through the Win- ter in fi. : shape in the range States. The sheep men have done a fine job of marketing lambs. There has been no glut on the markets despite the fact that feeding of lambs has been carrfed on on a large scale. The 10 leading markets have been fed evenly and a cent a head pald by Western feeders has been devoted to an educa- tional campaign designed to stimulate demand. It is anticipated that when the heavy marketing of California lambs begins between May 1 and 15, 250,000 will be moved to the Western slaughter houses. About 1,000,000 Spring lambs will be avallable for marketing from California. Up to April 2 about 10,000 live lambs had been shipped out of the State, a gain of over 5000, as compared with a year ago, while 15 000 had been moved dressed. Above Last Year. Prices so far have ranged 50c a hun- | dred pounds above those for the cor- responding period of last year. The longer producers hold lambs the heav- ler they will be, since feed is fine. Con- tract prices range about $13 a hundred f. 0. b. ranch for deliveries in May. Many of the lambs of feeder class will be held for Fall shearing and to meet Fall Jamb demand in the San Francis- co and Los Angeles areas. California will, In turn, draw on Oregon, Idaho and Montana for her own supplies later this Summer. Efforts are being made to develop the Mid West markets, which are still far behind both Pacific and Atlantic coast points in lamb consumption. California consumeg about as many animals as she produces, but most of them are shipped out of the State when other sections are not producing. Port- land takes a fair amount of California |ter sales of National Bellas Hess Co. | - lambs, but ships back two or three times | as many later in the season. THE AMERICAN OIL COMPANY Affilinted with Pan American Petroleum & Transport Company COTTON PRICES RISE ON WEATHER NEWS | Relatively High Liverpool Cuhles‘ Also Stimulate Buying in New York Market. By the Assoclated Press. NEW YORK, April 11.—The cotton | market opened firm today at an advance of 18 to 24 points on covering or re- | buying by yesterday's sellers and a re- | newal of commission house demand,| stimulated by relatively high Liverpool cables and unfavorable weather reports. ‘The map showed heavy rains in East- ern belt sections, with continued low temperatures in the Southwest, leading | to apprehensions of delays in the new | crop start. The weekly report of the Weather Bureau, however, evidently read no more unfavorably than antici- pated, and after the initial advance to | | son. ~ Opening |WHEAT PRICES CLIMB ON FEDERAL REPORT Big Jump in Values Due to Poorer Prospects for Winter Crop Than Expected. By the Assoeiated Pre CHICAGO, April 11.—Active buying of wheat and a big jump in prices to- day resulted from the Government re- port pointing to poorer prospects for Winter wheat than expected. July and September wheat deliveries rose to above any previous quotations this sea~ 1% to 3!s up, wheat subsequently held near to the initial range. Corn and oats were also firmer, with corn starting 35 to 1! higher and afterward reacting but little. NATIONAL CASH REGISTER. BALTIMORE, April 11 (#).—Direc« 19.82 for May and 18.48 for October prices eased off a few points under real- jzing. Trading was moderately active | during the first hour. Private cables sald there had been continental and London buying in Liver- | pool on the unfavorable weather reports | and fair inquiry for cotton cloths for | India account and moderate sales for | China. | ‘The volume of business tapered off on reactions of some 10 or 12 points from the early high prices There were bulges of a few points after publication of weather detalls confirming reports of heavy rains in the Eastern belt. | They were not fully mainggned, how- ever, and the market at midday was | quiet, with May selling around 19.71 | and October 19.38, or about 11 to 12 points net higher. STEEL SCRAP HIGHER. NEW YORK, April 11 (#)—Heavy melt- ing steel scrap, No. 1, is 50 cents a ton | higher in the Pittsburgh district, quota- | tions ranging from $15.00 to $1530 a ton. BELLAS HESS SALES. NEW YORK. April 11 (). —First quar- rose to $10,365,197 from $8,963,047 in the first quarter last year. ! tors of the National Cash Register Co. were re-elected at the stockholders’ an- nual meeting here today. The stock- holders also approved the annual report of the company. Organization of the irectors will be perfected at a meeting to'be held in Dayton, Ohio, April 24, it was announced = GERMAN BONDS AND STOCKS. The Star. | Leaeed EW YORK, A e Bid Asked. 80,4 e 09 Ya G Eran Manic A A De Darmstaedt n Ch Mercur Ban cr Ger L Au the shortest month of the year but theBIGGEST month in the, history of moco-Gas More AMOCO-GAS was uted in February, 1928, than in any single month since it was first offered to the motoring public over twelve years ago. The shortest month in the year—the month when many motorists do not use their cars—the month when driving is least pleasant—and yet AMOCO-GAS hit the peak in sales! There’s the final, clinching proof that the motoring public is always eager to pay a slightly higher price for a product of superior quality and