Evening Star Newspaper, August 4, 1928, Page 12

ORI BANK CLEARINGS ND.C.IeReAE Figures for Week Show Gain Over Previous Total. Baltimore Report. BY EDWARD C. STONE. Bank clearings in Wi gain over the previous week, tol taling §24,801,000, compared with $23,359,000 for the week end- ing July 26. How- ever, they showed a decline of 5.7 per cent under the cor: responding week i 1927 Clearings for the country as a whole were also larger for the week ended August 2 than for the previous week, Bradstreet report- ing an increase of a little over 15 per cent. Total clear ‘ngs for the coun- ere also phead of last year by a small margin Baltimore repor Charles H. Doing. ted weekly clearings f $101,584.000, against $89,192.000 for | prbvious week. While Baltimore's sarings showed such a marked a ance over the preceding week, ve! hev were more than 18 per cent be- nind the same week a year Ago. Richmond's clearings of $39.757,000 ollowed the trend of the rest of the eountry in being ahead of the previous ~ock, but At the same time were more han 10 per cent under last year. Thé total volume of trade up to July 23, as reported by the Department of Commerce, was greater than for the same period a year ago. Awaits Injunction Action Report. v. Young of the Federal Reserve Toard had received no notification re- rding the filing in New York of an junction to restrain the New York ileserve Bank from enforcing its re- ciscount rates. Pending further infor- ination he had no comment to make. Other officials of the Federal Reserve Toard, when told of the injunction ac- on, expressed the opinion that the which possibly could happen ould be the granting of a temporary raining order pending the ascertain- mont of fuller facts in the case. They 1 edicted, however, that the obtaiping ¢/ an injunction would be virtually iinous to whoever sponsored the ac- on because of the huge bond that . sely would be required. Institute Consuls Chosen. Preparatory to the opening of Wash- gton Chapter, American Institute of nking, in September, Robert A. Nor- . chief consul, has appointed the fol- +ing assistants, who will do all they n to get students in the various banks which they are employed. ‘ashington for the week ended August 2 showed a | Callahan Zine..: | Calumet&Ar(6). ANCIAL. " 'HE EVENING STAR, WASHINGTON, D. . NEW YORK STOCK EXCHANGE Received by Private Wire Direct Sales. High. Low. Close. Abitib! Power(4; 50 49 49% | Int Tel & Tel(6) Abitibi Po pt(6) Adv Rumley. ... Adv Rumley pf. Ahumada Lead.. Ajax Rubber.... Albany Papr(2) Allled Chem, ... 1 Amerada(2) Am Agri Ch pf. Am Boseh. . Am Br Sh(j1.60). Am Can(2)... AmCar&Fdy(6) Am Chicle(3)... Am Drug(80e).. Am Encau(2.40) Am & For Pow. . Am&For Pr 2d 7. Am lce(t23)... 44% Am Internati(2) 95% Am Linseed.... 109% 112 Am Linsd pf(7). 120 120 Am Locomot(§). 9214 92 9214 Am Metals(3).. 481 48w 48 Am Piano...... 16% 16% 16% 16% AmP&L(1).. 784 78k T8 T8W Am Po&L pf(6). 102% 102% 102% 102% { Am Ry Ex(6). 0 120 Am Republic 63 Am Saf Ra i Am Seatin 30 30 30 | Am Smipbldg(8) 8415 814 841 844 { Am Smelting(8) 20015 200% 200' 200% | Am Sugar. . 8 Am Sugar pf 4% 54 Jordan Motor... & 321 | Kelvinator Corp * Kennecott C(5) . Kinney pt(8)... < Kraft(gl%). : Kresge(11.60).. Lee Tire & Rub. Lehn & Fink(3). Lig & Myrs B 15 Lima Locomtve. Liq Carb(3.60). . o0e 3 . 120 a2 prn Long-Bell Loose-W (1.60).. Lorillard Co. . Louisiana Of LouisGasA (175} Ludlum St1(2).. McCrory A(2).. o MeKeespt Tin P Mack Truck(6). Macy (R H) Mad Sq Gar 107 1074 107 it e Am Sumatra 65% 66% 651 Am Tel & Tel(8) 175% 175% 174% Am TobaccoB(8) 161% 161% 161% | Am Type pt(7).. 110 110 110 { Am Zinc. .. 25% 26% 2% | Anaconda (4)... 66 6644 66 Archer-Dan(3). 821 84 824 Arch-Dan pf(7). 113l 1131 118 ArmourDel pf(7 98% 937 Armour, 11I(A). 20% 20% VArmour, II(B). 114 | Armour.1ll pf(7) 86 | Arnold Con & Co 394 | Asso Dry G(2% 48 | Asso On(e). 447 | Atehiscnc10) 187 | At Guif & WI.. 47 | Atl Refining(4). 1571 16115 157 | Austin-Nichols. 4% 4% 4% | Balto & O(6)... 105% 105% 105% | BankofMan(16). 7391 7391 735 Barker Bros., 284 284 284 BarnsdallA.... 24 24 24 Bayuk 1st pf(7) 107 107 107 18% 16% 16 18% 18% 13% 98. 851 85% 854 Best&Co(3)... 69% T0% 69% Bethlehem Steel 56% 56% 56% Beth Steel pf(7) 117 117 117 Bloomingdale... 34% 34% 34% Blumenthalpf.. 91~ 91 91 BonAmiA(4).. 69% 69% 69% Booth Fisheries. 7% 74 % Briggs MfgFCo. 36 36% 35% { Brockwy Mot(4) 54 54l 53% : Bklyn-Man(4).. 63 634 63 | Brunswick B(3) 464 46% 46 Brunswick Ter. 42% 44 425 Bucyrus(1).... 364 364 354 | Bucyruscvi2i) 45% 45W 45 | BurnsBrospf(7) 106% 105t 105% 105% Bush Term(g2). 50% b50% 50% 50% Bush Terde(7). 107 107 107 ButteCop&Z.. Th TH% T Butte & Sup(2). Butterick Byer & Co. Man EI Sup(5).. Man El m2g(d5) Man Shirt(2)... Marland Oil Mar-Rock 2% .. Mathieson(8)... May Dept S(4).. Mengel Co.. Mexican Seab. .. Mid-Continent. Middle States. .. Mid States ctfs.. Miller Rubber. . Minn & St Louls Minn SIP&SSM. M St P&SSM pf. Mo Kan & Tex.. e 105% Motton Pic Corp Motor Meter A.. Motor Prod (2).. Motor Whi(2).. Mullins Mfg. Munsingwr(3) Murray Corp. Nash Motrs(16) Nash & Chat(7). Nat Cash R A(3) Nat Dairy(3)... Nat Pow&Lt(1) Nat Radiator. ... Nat Supply(16). ¥ Cent (118).., {,C&SLLGG). YNH&H1) Y NH&H pf(7 N Y Stm pfA(7) 96% 964 96 2% 2% 2% Sdls 94% 94y Calu & Hecla(2) 234 23% 22% L | CanDryGale(3) Can Dry (rts)... Orth-| Can Pacific(10). 206 206 - | Cent Alloy(2).. w75 1% 1% 83% 334 1% 206 4% NorAm b10% st} Nor Pae cfs(5).. 33 Norwalk Tire... ” | Certain-Teed(4) Dieter. | Cnander-Cl pf. theast | Cerrode Pas(5). 76% 76% 76% "Ifi: 43% 43% T % Oll Well Supply. 43% gu‘w'nnpx < . tis Steel...... 2w 3y o A0%|Ouis St pr pE(7) Ches & Ohio(10) 182% 183% 182% 1831 | Pacific Gas(2).. C&OCorpn(3). 654 66% 66% 654 9% 9 Certo Corpni( t4) Chandler-Clev. . Pac 01l Stubs. Packard Mot ChiMil&StP.. 35% 35% 385 Ch! Mil & StPpf 47 47 Il;: 2:2 Chi RI&Pac(6). 116% 117 116% 116% Parmt-Fm(j8).. Park & Til (13). X | Chickasba (3).. + | Chij Hyattsville: James E. McGeary, W. Hibbs & Co.; J. Frederick English, /mmercial National; Robert R. Hitt, tional Sa & Trust, and Karlton Stein, t National. Bank Assets Lead South. Maryland leads all Southern States , according to a statement com- R. N. Sims, secretary and of the Association of Super- State Banks.. Resources, of banks in the South compare as liows, according to the Sims compila- which covers reports of varying . $674,047,209.21 404,440 456.26 422,773,396.19 317,938,767.33 308,521,323 67 287,225,340 42 276,653,698.55 251,840,269 51 198,396.752.95 194,152,669 90 165.976,908.30 .dabams.. ... ....... 138,187.919.21 Louth Carolina. ......... 106,294467.57 Maryland ranked twelfth zmong the sesissippi. . t zorgia. . o fkansas i dpg preceded by New York, Massa ; Pennsylvania, Tllinois, Ohio, aifornia, New y, Connecticut, 1 "iehigan, Missour! and Indiana Branch Manager Heads Committee. Charles H. Doing, recently appointed chairman of the District Bankers' As- i elation committee on taxation, is’an banker, and for some years ¢ of the Washington Co’s branch office at sireets northwest, ed with distinction soclation in charge of the al conventions, « y the taxation Harman y W. Offutt, | Maurice Otterback, Fred | ¢ M. Riordan, C. W. Pope, cer and Robert 8, Stunz. | Loans for “Others” on Increase, } loans for account of private |’ rs v.her than banks have mounted to be looked upon in having an impor ying on the eredit outlook for These advances are classi- | Hudson Mot (%), ¢ in the bapkers’ loam statements, 1-leased each week, as loans made for zecount of “others” Formerly such Wotel, but they have now risen 1o majol cimensions, ‘This week’s loan state ment, for instance, shows that cred) cxtended the market by private lenders | ut Com Iong(2) and vtaled $1,832.631,000 on August 1 eyeeeded other classification o roker e 1o are made chiefly by corpora I 904,000,000, k| Cutir-Ham(3%) amount of assets of its State | ates of the Union in such resources, | commit- he | g, advances constituted only & minor factor in the brokers' 1oan | fnq ce the first of the year such loans, | int Nickel(2). . e Jumped W the extent of CRI&PpDI(6). 102 102 102 102 5% 51% 51% 1(2.40) . 47 8% 47 Chif® Cor23) Chrysler(3). City StoA(3% Colli i & L 614 61% 61% Col Gas & EI(5) 110% 110% 110 Plerce-Arrow. .. Com Cred(1)... 31% 32% 31% 32% | Plerce-Arrow pf Com Solvents(8) 148 148 146 146 Com Powr(t3).. 7% 7T% 7% 17T% Congoleum-Nair ' 22% 24% 22% 24% Con Film pf(2). 23% 23% 23% 23% 143% 143 143 143% 3 3 3 3 28% 234 23 23 12% 12% 12 12 TT% 1% 76% 6% 106% 107 - 105% 106% > ik 11w ik 1 % 11 Corn Pro(13%). 178 8 MM% 77: Coty Inc(gh)... 186% 190 186% 187% Crucible St (5). 72% 72% 72% 72% Crucible pf(7) ll:\fi 115 114% 115 5 b 5 ;;K 17 17 17 . 24 28% 24 Cudahy Pkg(4). 75% 754 74% Ta% Curtiss Aero(1), 103 103 102 102 Cushmann pf(8) 113% 113% 113% 113% b4l 54% baYs 54% Davison Chem.. 52 B2% b1% B2 Davison rts % % W Deere&Co pf(7) 124 124 124 124 Diamond M(19). 159 159 159 159 |Savage Arms(n) | Dodge Bros A... 16% 171 16% 17% |Schulte ®3%).. Dodge Brospf 7 83 86 83 85% | Schulte pf(8). 16% 17% 16% 16% ) Seab Air L pf. B31 864 83% 847% [Sears Roe(12%;) 8 8 8 8 | Seneca Copper. . 967% 9715 Shattuck FG(2) 870% 370% | Shell Un(1.40).. | Bastman(18)... 182% 182% 182% 182% | Eaton Axie(2z)., 40 40% 40 40% Shubert The(5). Simmons Co(3). | Eisenlohr&Bro. 14% 14% 14% 141 | Simms Peto Eitingn pfi6%) . 102% 10214 1023 10234 | Sinclair Oll. Elec Auto L4). 82 82% 81 8z | Skelly Olliz) Electric Boat.., 11% 11% 1% 11y | Snider Pk pt... | ElecPow&Lt(1) 34% 345 35 |Bo Por Rio8(12) | Em BrantgmiA) 10 10 10 10 |South DairlesB. | KEngineers PubS 36% 36% 6% 6% | South Pac(6) | BquitableTr(12) 510 620 510 520 |SOURYM&Ocfs 4 |Erle R R 52 52% b2 b2 |Spear&Copf(7). Erie 15t pf 68% 5% ben 5B Sploer MIE.. ... Fairbanks(3)... 45 46 45 45 |StaG & (3%). | ParbankMpr(1) 112 112 1104 111% | 510 G & B pt(4). | First NatS(1%) 86% 37% 36% 36l | Fisk Rubber. ... 1% 1% Fisk 15t pf(7).. 70 k) 69% 8td O Cal(2%). . StOHNJI(11%). Fletschmann(3) Fox Film A(4)., :nlm StdO1NY(1.60), Freeport (6%). 814 People’'s Gas(8). Phila& RC&1.. Postum new(3) . Produ & Refinrs. Pub Serv NJ(2). Puliman Co(4).. Pure Oil (50¢).. Real Silk pf(7). Remingtn-Rand Reo Mot(11.20) Rep 1 & S(4) Reynolds Spng: ReynldsTobB(5) Richfield O11(2). Rossia Ins(5)... Royal D(a3.222) 1 | StL & SanF(18). StL&Southwest. 96% 9’ Dupont(t13.} 371 371 Std Plate Glass, Std P Glass pf. StdSanPro(1.6! Stanley Co Stewart-War(6) Strom Car(2). Studebaker(b) Sun O1(n1)..,.. Superior Oll.... Tenn Copper(1). Telautogh (80c) . Taxas Corpn(3). Texas Gulf Sul(4 Texan & Puc(b). Tex Pac C & Ol Tex Ld Trinew) Thatcher Mfg. Tidewsuter AnOI Tide W O11 pf(5) Timken(16).... - Tobae Prod(m). | ' ot otyd Transcont OIl... Trieo Prod(2%) Udwa 11 F(4) Un BagkPape Union Un 011 C: | Umion Pae(10 Union Tank UWaCkrSLC Utd Dyewood . 1t Pl thy | | Gen Am Tnk(4 | Gen Asphait. . | Gen Cable A(4). | Gen Cigars(4).. | Gen Elec(15) | Gen GasA (o) | Gen fce Crm(2). | Gen Motors(17) | Gen Outdr Ad(4) | Gen Ry 8ig(5).. GGen Refrac(3)., | Gillette Raz(5). | Gimbel Bros | Glidden Co 7 73 % a0l 150% 150 58 5 150% 7 % 79 9 187% 187'% 187 50% B0% GO% B0V 99% . 99% 9T% 9T% 4T AT4 4T% 4T% 101 101% 100% 101% 644 H5% 20% 2% 90% 6% G 99% 101 (L K2 o9 139 B 27% Ab% A2% 9% TR 6% 105% 104% 104% 4 102 GHL BR% 98% DRk 4% 4 1014 1484 Hi2lh 61 139% 0 28 6% 32% 10105 137% B2 b9% 10114 148 H2Th 60 !“A'l’-l»r) profie) » Slonmanot .- - U8 Distributing U 8 Hoftiman(4). U 8 Aleohol (). . 8 Leather () 8 Rubber. s . U8 Rub 1at pf. . U B Smelt (4%). U 8 Stoel(1), .. Univ Pipe & Rad UL P&L Ace2). Vanadlum(14). . Van Raaite pf.. Vietor Talkx (4) Va -Caro am. , Valoan Detin, .. Wabash. ..., .0 Waldorf(1%).. | Hupp Mot (12)., | 111inots Cen (7). 111 Cen Isa 11(4), Indian Mot(1%) Refining. l’| Indian Refg ctte = | InterboroRapTr Lifnt Ag Ch pf (1), 106% 1040y 4y 1007 1014 BT 6% LA LY ol 4bls {1t Comb pf(7) f | (nt Mteh pf 3 20 | 10t Mer Marine T - | Int Paper(240) int Paper pft7) 1at Ry Cent Aw, Oven. 178 10% n% 18% 19% 32% 10% Kroger Gro(e1). 109% 11 19% 52 90 42% 57l 103 Mallison pf(7).. 104% 108 B 45 34 38% 5T 130% 16% 130 40 70 514 484 87 177 647 $2% 21 B9% 224 162 6 126% 557 114 113 T0% 94% 3% 22% 100 22% 95 47% 1% 7 133! K e 179 28% 14 58 25 bk B0% 23% 1125% 170% 9% 6% 94% 30 10% 135% 47 161 54 112% 85 a9 b56% 123 245 128% 26% " 170 1% 26% 26% 19 Rbpe Ry 961y ® A% 110% A 3 62 4 194 ELLA ki) bt 9% 184y EETH 12 21 . High, 173 Johns-Manv (3). 120% 130% 10 0% T2% 18% 19% 33% 1 20 52% 103% MeCrory B(2).. 108'% 109% L N 60%e 45 34 884 5T 134% 16% 180 51% 49% 87% 177 Natl Bisc(16%). 163% 165% Nat Bisc pf(7).. 143% 1434 66% 89% 22% 162% 6 126% C StL pf(6) 108% 108% b55% 114 113 Norf & Wn(t10) 177% 177% 0% NorAm Ed pf(7) 101% 101% 945 % to The Star Office. . Low. Close, 171% 172 128% 129% 104 10% % 187 19'% 320 10% M 92 6% 64ty 347 58 103% 108 173 4 166% 14 22% 00 1 22% 95 4T% Pacific Light (3) 534 833 1% 6% Pan-Amer Pet B 44% 44% 133% ki 28% PnillipsPet(1%) 40% 40% 25% 5% 804 23% 112% 170% 9% 37 94% 30 133% 7 12% 85 39 56% 123% 2% 120% 26% 556% BO% 7 14% 18 B8% 04 170% 1% 26 26% 19 BO% 1324 i Bln 42% 8% a7 1y bk . 140% 140% 19% BE% 112% 169% Sales, High. Low. Close. 174 17% 88 5% 33% 17 Ward Baking B. Ward Bak pf(7) Warner Pic A... Warner-Qu(2 Warren F&Pipe. W Penn El pf(7) West Dairy B... West Maryland. Westhse A B(2 Westinghse(4) . Weston Electric White Eagle(2). White Motors(1. White Rock(2). White Sew Mach White SM pf(4) Willys-Ov(1.20) Wilson & Co.... Wilson & Co pf. Woolworth(5). . Worthn Pump. . Worth Pump(B) Wright Aero(2) Yale&'Twne(15). Yellow Truck. .. Dividend rates as given In the above h payments based o 110% 20ty table n n It £ Partly extrn: 1 Blus 4% 10 stock § Phus $3 in preferred stock. ¥ Plus 1/35 ih stock. Faid this year—no regular rate. b Pay: Plus 5% in stock i stock, _h Partiy stock. k Plus stock. m Payable 1/10 share aquarterly in United Cigar Stores common stock. b Plus T1,% in stock. Wall Street Briefs ATLANTIC REFINING COMPANY. —Stockholders of Atlantic Refining Co. will act at a meeting on October 15, on a recommendation of directors that common capital stock be raised to $100,000,000 from $50,000,000. The par value will be changed from $100 to $25 a share. The increased stock is to be issued from time to time at the dis- cretion of the board DEMAND FOR TINPLATE.—De- mand for tinplate and other rolled steel is being sustained in the Youngstown area and prices are stiffening. Fourth- quarter shipments of steel sheets are expected to carry an average price of $1 to $3 above the current market. Tinplate mills are at capacity with an uninterrupted flow of new business. Steel ingot output this week is at 80 per cent. ART METAL CONSTRUCTION CO.— Art Metal Construction Co., Jamestown, N. Y, earned $1.02 a share in the half- year against $1.12 a share in the first g;zl‘f; 5‘3{1 :fi? Net profit_declined to 55 T expenses and taxes fr $360,165. i v i COTTON EXCHANGE CLOSING.— Members of the Cotton Exchange are circulating a petition for a vote on closing the exchange on Saturday, Sep- tember 1, for a three-day recess over Labor day. The membership of R. E. Craig has been sold for- $35,000, un- changed from the previous sale, to S. J. S. Schienker for another. BLAST FURNACES ACTIVE.—A to- tal of 185 blast furnaces in the United States were active on July 31, repre- senting 539 per cent of 343 stacks avallable for iron making. VOGELSANG HEADS EXCHANGE. —Erwin Vogelsang was elected presi- dent of the new National Metal Ex- change today at the organization meet- ing of directors. Irving J. Louls was chosen first vice president; Kenneth S. Guiterman, second vice president, and Charles 8. Trench, treasurer. Bernard N. Jackson was made tem- borary secretary. Temporary by-laws were adopted. RAW SILK IN STORAGE.—Stocks of raw silk in storage on August 1. were 38,866 bales against 41,127 on July 1, the Silk Association of America reports. Imports in July were 38,670 bales. The total amount available in July was 79,- 797 bales and approximate deliveries to Afmerican mills during the month, in- cluding re-exports, were 40,931 bales. MARMON MOTOR CO.—-Marmon Motor Car Co. has prospects of dou- bling its business in Europe in the next 12 months, England particularly ofier- ing an excellent market,” said H. L. Purdy, vice president and general man- ager, on his return from abroad. He believed the heavy tax on motor cars in England would be lowered in a few fum and as Russia could produce gaso- line as cheaply as in the United States, two factors hindering the development of the Eu motor 5 ellmmnr;g.em market would CROGER GROCERY CO.—Acquisi- tion of another chain of mc:t‘::m which would be the third this year is expected to be announced soon by Croger Grocery and BAkln’l Co. So units have been far this year 269 added to the chain. Negotiations are being carrled on, it is sald, with several established chains. YOUNGSTOWN SHEET & TUBE. —Youngstown Sheet & Tube has a con- tract for about 25000 tons of pipe for a 165-mile natural gas line from the Amarillo Fleld, Tex., to Enid, Okla., for the Consolidated Gas Utllities Co. GENERAL AMREICAN TANK CAR Co.~-Profit of General American Tank Car Co. for the half year was $1,712,610 after charges, but before Federal taxes, lg;-‘;"" $1,612,710 in the first half of ATLANTIC REFINING ISSUE. NEW YORK, August 4 (Special)— With the announcement of proj recapitalization plans of Atlantic Refin- ing now in the hands of speculative Wall Street, the only matter left for conjecture is the rate which the new $25 par shares are to carry. Because of the high rate of earnings in the first half of this year and the announced intention of the directorate at the Uime the present stock was re-estab- lished on a dividend basis, It s reason- able to suppose that the return on the new shares will be greatly in excess of $4 annually now being paid. This 18 | Poy what the market for Atlantic Refining apparently has been discounting dur- ing the past month, GERMAN fONDs AND STOCKS. Bpecial Dispatch to The Sta NEW YORK, August 4.— Asked. 60.00 Bid. x finoit °% w draw ctts per 1000 R M.\ 42 (Quoted in doliars per million marks) Hamburg 4'us 1919 L2900 58 (Quoted i dollars per thousand marks.) Qer Gen Eleet 23003 ) & 4 pre-w n Line 4%as d 4 Krupp s 1921, Dusseldort 45 pre- Prankfort a-M Munich 4s pre-War 5 (Quated in dollurs D A E G (Ger Ge Elec) A E G (Ger Ce Elec) Commerz and Privat L G Farben Disconto Gellscharft Berliner Hundels Dresdner Bank . Deutache Bank ? Darmstaedior Bunk.'. ievden Chem T Mercur Bank Vienna: | North Gierman _Lloyd 22333333 22332333388 8 8 328 B 3. [ 1 2 2 3 2 2 3 3 1 1l 0 9., b 2 0 2 3 0 1 222 140% 19% 8 7% b 97 a8 7?2 21 784 Wors Austeian A B G (Cen Eiee " DIVIDENDS, Pa uble. o) Hidrs. of Compuny. Jeoor e Bishop OIf fou & Alani it B rown J W Mf« Do, Cuseln Co of Am Gen'fl P 8 pf Mid Wes Uil pr lfen Do, 36 pr len. .. .31 A & o vt Banitary Grocery.’ I o Col Pur Pe. Rate riod. it @ eb 12'5¢ Ex Bep. 1hy's Q Auk b0 3 et 3§ Ao y L g Aun, 006 1 Hep Aug Aui Aug Aug Hep. e R A alt pi ¥ & "lwo-month weriod. SATURDAY. STORK OOLS PUSH IWRKET LEADERS Issues Chosen by Operators’ Groups Score Gains in Brief Session. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, August 4 —Encouraged by their successful efforts on Friday, pools operating in specialty favorites resumed activities on the Stock Ex- change ds the week drew to a close. Further recovery in the issues selected for leadership made up the chief inci- dents in today's brief session, while the main body of stocks backed and filled with little change in either direc- tion. It was typically a Midsummer market, with the volume of business small. Motors Prominent. Independent motors held the place of prominence in point of activity, with the tendency of the leaders toward higher prices. The demand for Chrys- ler proved to have been by no means satisfied. Opening on a block of 8,000 shares at 85, the gain extended 1'% points and more before profit-taking set in. Hupp Motors closely followed Chrysler, although the demand was not as urgent. Chandler and Studebaker bore their share in the improvement, while General Motors showed- little change. The demand for Timken had as its incentive - the prospect of favorable dividend action at the meeting sched- uled for Tuesday. Electric Autolite, reflecting the prosperity of the auto- mobile industry, moved forward to a new high above 82'5, although it failed to hold the improvement. With the announcement of the pro- posed four for one split, up of Atlantic Refining out of the way, the stock en- countered heavy profit-taking. Oper- atlons for the rise were resumed in the sulphur issues, with Texas Gulf and Freeport-Texas up 2 and 1 points re- spectively. Rails Little Affected. Because of the fact that they lacked the necessary incentive in outside de- velopments to work for higher prces, the rails were left to drift for them- selves. No weakness, however, was in evidence. Baltimore Markets BALTIMORE, Md., August 4.—Poul- try—Spring chickens, pound, 37a38; small, 30a35; Leghorns, 25a32; old hens, 19a28; poor and thin, 17a18; old roos- ters, 14a17; ducks, 21a23; poor and thin, 17a18; old, 15a18; pigeons, pair, 25a30. Eggs—Recipts, 317 cases; native and nearby current receipts in free cases, dozen, 28%; small, 23. Butter—Good to fancy creamery, pound, 441,a47: prints, 47a49; block, 46a48; ladles, 35a38; store packed, 31; process, 40ad1. Hay and Grain Prices. Wheat—No. 2 red Winter, domestic, licky, domestic, August delivery, 1.32; September delivery, 1.34:; spot, 1.32. Bag lots of nearby, at wharf, sold at range of 1.05a1.17. Cargoes on grade, No. 2 red Winter, ?";1'}9“' 1.31%2; No. 4, 1. Ni Corn—No. 2 yellow, domestic, 1.21a 1.22, nominal; No. 2 contract, export, no quotations; corn on cob, new, 6.00, nominal, per barrel. ts—No. 2 white, domestic, old, 68, nominal; No. 3, domestic, old, 66a67, nominal. Rye—Nearby, 1.10a1.20. Hay—Receipts, 11 tons. Demand for hay is very limited and receipts gen- erally ample for all requirements. ' Not enou{h actual business is passing to establish quotations on the various grades and all hay is selll strictly on its merits at a range of 12.00a16.00 per_ton, . Straw—No. 1 wheat, 11.00a12.00 per ton; No. 1 oat, 12.00a13.00. Country Produce. potatoes, barrel, 1.50a2.00. Beans, bushel, 75a1.10. Beets, 100, 1.50a3.00. Cabbage, 100, 3.00a6.00. Carrots, 100, 2.00 24.00. Cucumbers, basket, 25a40. Celery crate, 3.5086.50. Corn, n, 10a30, Eggplant, basket, 1.00a1.25. Lettuce, crate, 2.00a2.50. Lima beans, bushel, 1.75a2.50. Peas, bushel, 1.00a1.75. Pep- pers, basket, 25a40. Onions, bushel, 35 a75. Squash, basket, 25a40. Tomatoes, basket, 20a60: bushel, 75a1.00. Apples, , .50. Blackber- ries, quart, 12a20. Cantaloupes, basket, 50a85; crate, 50a1.00. Cherries, basket, 65a75. Huckleberries, quart, ~12a15. Peaches, bushel, 75a1.50. Plums. quart, 4a8. Watermelons, 100, 18.00a40.00. Commodity News HELENA, August 4.—Indications now are that the wheat crop of this State | will be second only to that of 1927, | when 80,000,000 bushels were grown | The acreage is larger than last year and weather conditions continue prom- ising. ATLANTA —Georgia peaches now are being shipped in volume, Prices are about normal, but many growers are complaining of stringent State inspec- tion and size requirements. Melon ! shipments continue heavy despite a price drop. CHICAGO.—Little chi is shown in the steel mill activity of this district with the percentage of operation main- tained at about 80 per cent of capacity. Automobile and farm implement de- mand Is steady. SAN FRANCISCO.—Although the gasoline market is outwardly firm, there is an undercurrent of price cutting re- rted. Some producers are marketing part of their product through so-called “bootlegger” dealers who do not give the source of the product they sell. | MARYLAND ISSUES SOLD. Dealers Report Municipal Securi- ties Are Popular. BALTIMORE, August 4.—Local deal- ers in municipal securities report recent Mnfllmd fssucs fairly well absorbed by the investing public. Market for municipals is at present reported dull. The only Maryland is- sue scheduled for sale in the near fu- ture is $75,000 City of Cumbeérland 4'% per cent. notes to be awarded the high- est bidder Monday. This issue, which & for flood prevention, was authorized by the General Assembly of Maryland fn 1927, The notes are due from August 1, 1929, to August 1, 1033, IRON ORE SHIPMENTS DROP. NEW YORK, August 4 (®).—Iron ore shipments from the Lake Superior district for the first seven months this year were 23,215,084 tons, & drop of 11 per cent under the total for the same period of 1927, July shipments were 8,980,859, against 8,609,082 a year ago. . EQUIPMENT ORDERS. NEW YORK, August 4 (#)-—Power equipment orders were fairly numer ous the past week and with a steady flow of business from industrial plants, the sales volume compares favorably with this time last year, Electrical World reporis. Demand for line con- struction material - showed improve ment. Power companies placed good business in fthe New England district and the South. i no quotations; No. 2 red Winter, gar- | Potatoes—White, bushel, 50a65; new | “XUGUST 4, 1998 MEAT TRADE DULL INLOCAL MARKET Grapes, Melons, Peaches and Some Fish Are Cheap. Supplies Good. Merchants at Municipal Fish Market already are looking forward to Septem- ber 1, opening of the oyster season, when returned vacationists and im- proved weather conditions are expected | to result in improved trade conditions. Continued high temperature has pre- vented shipments of fish from Florida and other placés in the South, accord- ing to reports, but receipts from the North have been more than ample to supply demands. Several times during the heated pe- riod there has been a scarcity of fish, ! {which resulted ‘n increased prices This week, however, receipts of fish from Boston, New York, New Jersey and points as far south as-North Caro- lina have been heavy enough to more than supply demands at greatly reduced i prices. Appearance of boatloads of water- ! melons from North Carolina and e: {press and refrigerator shipments from | Georgla the past few days, followed with supplies of cantaloupes from North | Carolina and the lower counties of Vir- | ginia, served to attract larger numbers | of patrons to the market and increase the volume of business there. Crabs More Plentiful. Dealers have displayed an unusual amount of interest in the crab industry the past month, crabs having been much more plentiful this scason than during a number of years past. Hard crabs have been particularly plentiful, but the demand for them has not been as great as formerly. A price of $5 a barrel has been quoted for them most of the season. Soft crabs have not been so plentiful this week. Earlier in the season prices dropped as low as 35 cents a dozen for the small soft crabs, the large ones selling at 50 and 60 cents. Lately, however, they have not been so plenti- ful, and dealers the most of this week offered them at $1.50 a dozen. Turtles and frogs, other marine deli- cacies, haye become scarce, dealers re- porting their scarcity being due to weather conditions. Lobsters also have become scarce and higher than early in the season. It is expected that in- creased receipts of the three delicacies will be in evidence when weacher con- ditions improve. Practically all the frogs offered are from the South. Fish Come From North. Boston and New York shippers this week supplied most of the fish offered in the local market. Swordfish, leader of the marine supplies, one of the varieties received from the two supply places, proved more plentiful and cheaper this week, selling as low as 27 cents a pound. Haddock reached the market in such large quantities the past few days that dealers offered them at 3 cents a pound, the filet of haddock, always a good seller, being offered at 13 cents, a low price. Fresh cod sold at 7 cents, halibut at 20 and 25 cents, salmon at 25 cents, Boston mackerel at flounders at 10 cents a pound. Chesapeake Bay fishermen this week furnished the local market supplies of | Spanish mackerel, croakers and butter- fish. The croakers sold at 5 cents, butterfish at 8 | tically no Norfolk spots were received { this week. | Wholesalers reported a decidedly dull condition of the meat market the pas | week, consumers purchasing only actual | | necessities, according to the dealers,; thousands of persons from the city are market. Little Rough Meat Offered. It is said that prices in the wholesale { houses are about the same for cholcest | meats, and there is very little rough meat being offered. Retailers’ prices differ, however, their prices covering a wide range. Prices of some of the cholcest cuts are so high that con- sumers consider them almost prohibi- tive, Just how long the high prices will prevail is problematical. Beef and veal prices have undergone very little changes the past two or three weeks, according to dealers, while | the price of lamb has taken several drops. Lamb is said to be the cheapest meat offered the past month. Pork and pork products continue scarce and high, and because of the high prices, it is stated, stock is not moving rapidly. Dealers are not looking for largely increased trade until after the end of the Summer season. | Poultry dealers are not burdened | with lively demands for the lines of | | | TUFINANCTAL.” Gravensteins, have been selling at $2 and $2.25. Bartlett pears, product of California growers, were quoted at from $2.25 to $2.75 the past few cays. ‘Tomatoes from nearby farms con tinue in plentiful supply, and have been offered most of the week at cheap prices. Barly in the week they brought as much as $1.25 a two-peck b-sket, but the price soon dropped to 50 and 75 cents, and they were so plentiful this morning that dealers willingly ac- cepted almost any price offered. Only moderate supplies of potatoes were reported the past week, meeting a moderate demand that continued the market firm. Eastern Shore Maryland and Eastern Shore Virginia stock were quoted at $1.75 and $1.90 a barrel this week. Sweet potatoes and yams from | North Carolina and Georgia have ap- | peared in the local market, and are in | fairly good demand. 1 Moderate receipts of string beans, cabbage, celery, eggplants, peppers and squash have been reported the past few days. Lima beans, peas and corn have been received in smaller quantities. Prices of most commodities today were substantially the same as those quoted the past few days. Today's Wholesale Prices. Butter—One-pound prints, 4715a4812; tub, 45',a461; store-packed, 28. Eggs—Fresh, selected, 31a32; hennery, 32a33; current receipts, 29a30. Poultry, alive—Turkeys, 25; fowls, large 25, small 23; Leghorns, 18; Spring | chickens, large 34a35, medium 32a33, small 30; Leghorns, 27a28; roosters, 16; keats, young 75, old 30. Dressed—Tur- keys, 30; Spring chickens, large 40242, medium 38a40, small 35a36; Leghorns, 35; fowls, large 26a27, small 25; capons, large 44a45, small 30a35; ducks, 20a25; keats, 1.00a1.10. Meats, fresh killed—Beef, 22a24; veal, 20a24; lamb, 26a30; pork loins, 33a34; fresh hams, 25; fresh shoulders, 19; smoked hams, 28a29; smoked shoulders, 19: bacon, 24a26; lard, 14. Live stock—Calves, 1312; Spring lambs, 1321315, Retatlers_were on hand early this morning. One reason for early trading was to avoid the heat later in the day: another was to get first pick; a third reason being a desire to supply con- sumers who do early shopping during the period of the Saturday half-holiday season. CHRYSLER INTEREST ACTIVE. NEW YORK, August 4 (Special) — Chrysler Corporation once more mono- polized interest in the independent motor group. Recent resignations in the Dodge directorate are only pre- liminaries to expected changes which will completely reorganize the com- pany in the endeavor to bring its operations more closely in line with the Chrysler policy. If plans of the Chrysler Corporation head are accom- plished the consolidation will make the two companies one of the principal \BRADSTREET’S SEES - BRIGHTER OUTLOOK Reports Show Increasing Number of Sales and Output in Many Lines. By the Associated Press. NEW YORK, August 4.—Bradstreet's today will say: * Almost unanimous testimony as to improvement in crops, which seem now to promise indisputably larger returns than a year ago, and a further accession of cheerfulness in trade, which enables favorable comparisons with the re- actionary trends visible in business and industry a year- ago, stand out con- spicuously in the reports to Brad- street’s. In trade an increasing number ol reports of sales in Fall lines exceeding a year ago are received, with special emphasis placed on active buying of agricultural implements, farm machin- ery, hardware and heavy Fall wear, especially in Northern markets. Among the industries the steel and automobile trades show most activity in buying and output, with the formyer leaning quite hezvily on the latter for constructive requirements. Oil country goods and structural materials are sell- ing well, however. The shoe manufac- turing trade sends fairly good reports, with the leather trades slightly more active on slightly eased quotations for shoe grades of material. s Weekly bank clearings, $10,764,134.- 000, an increase of 4.9 per cent over a year ago. KRESGE SALES INCREASE. NEW YORX, August 4 (®).—July sales of S. S. Kresge Co. moved up to $10,583,069, from $9,791,245 in July, 1927, and for the seven months of 1928, to $73,373,233, from $65,692.232, in the same period of 1927. The company opened nine stores in July, makiag 469 in operation. COMMERCIAL FAILURES GAIN. NEW YORK, August 4 (®).—R. G. Dun & Co. reports 424 commercial faii- ures in the United States for the weck. 68 more than the preceding week, and 38 more than a year ago. ARMOUR C0. BUYS EGG FIRMS. NEW YORK, August 4 (#).—Armour & Co. has ht H. J. Keith Co., Boston, dried and frozen eggs, also the interest of Keith and others in the Amos Bird Co. of Shanghai, China, one of the largest dealers in egg products in China. The transaction is under- motor manufacturers. money makers among the lndepemientl stood to have involved more than $2,- 500,000. A WORTHY RECORD In a recent compilation of data on apart- ment house tenancies it was found that 15 cents and; the buildings under the management of cents and Spanish | | mackerel at 15 cents a pound. Prac-' |} and most of them looking only for the | il best cuts. High prices and absence of | | the reasons assigned by certain dealers ' |ii ! for the prevailing dull condition of the i management. 738 Fifteen this Company have a low percentage of vacancy: a worthy record, backed by fifty years of experience in property Thos. J. Fisher & Co., Inc. Real Estate Brokers th St. N.W. for LOANS on and ad. d Prince goods carried by them. The demand the past week has been only fairly good, not great enough to enable deal- ers to clean up at the close of each| day's business. | Spring Chickens Lower. | Last week's decrease in the price of | Spring chickens was followed by addi tional decreases this week, slightly in. creasing the demand, many consumers | turning to the poultry market as al A slight advance, fraction of a cent, in butter prices this week had but little effect upon the local market. Egg| | prices have ‘remained practically the | same the past several weeks. Hot | weather increased candling losses, and | probably would have meant an advance |in prices had there been much of a demand for the product of the hennery, Western eggs appeared here the past | few days. They were termed firsts, { according to dealers, and were offered | at prices about the same as local dealers | were quoting current receipts. Peaches, watermelons and canta- {loupes, coming from various sections of |the country in large quantities, are {virtually glutting the fruit market, ae- | cording to merchants, and cheap prices | are reported. Georgla, North Carolina {and South Carolina are supplying most | {of the watermelons offered in the local | { market at this time, it being too early | | for Maryland and Virginia melons. Melons Are Cheap. Numerous melons of various sizes are being received, prices covering a wide range, and they are so cheap that street hucksters are offering them as ¢ as & quarter. Prices quoted by lers this morning ranged from s for the smallest, and perhaps not the freshest, to 55 cents for the cholcest of the recelpts. Arizona and North Carolina growers seem to be furnishing the great mu jority of the cantaloupes —that reaching here at this time, others com- ing from several other States. Growers on the Eastern Shore of Maryland started shipping the frult several days | ago, many shipments going to Balti- | | more by boat. | Best stock was offered this morning | |at $1.76 a crate, inferfor stock selling ! for a song. Some of the small canta- | loupes sold as low as 50 cents, similar stock In nearby cities selling as low as | 20 cents, according to repor | Heavy recelpts of peaches from | Georgla, North Carolina and South | Carolina throughout the week met a demand that was moderate “enough to | make the market dull. Prices of good stock ranged from $1.25 to $1.76, few extra large neaches selling at about $2 Urging Canners to Buy, Because of the heavy receipts, dealers are urging their purchase for canning | and preserving purposes, having no ine formation as to the prospects of late crops of other varieties of the frult Light receipts of np;]:::u and nears are reported. Bushel baskets of the Virginia apples have sold at $1.75 and 82, windfalls bringing 8125 a bushel. Boxes of California apples, chiefly APPLICATIONS INVITED IMPROVED PROPERTY Located in the District of Columbia cen* Suburbs of Montgomery Georges Counties, Md. Per 5%“5 -% Cent 3 Years or Longer H.L.RUST COMPANY 1001 15% Street NW. Main 8100 result_of high meat prices 1 The Hibernating Bear W/ winter in the air, ‘> HEN the hibernating bear of the Arctic Circle and parts north sniffs the scent of he finds himself a nice, quiet cave where he won't be dis- turbed by the howling winds and driv- ing snows. There for months. he goes to sleep— During the summer and early fall our hibernating bear-fri end has been bank- ing his savings—he has a thick layer of lify hide. .sustaining fat under his shaggy Now when killings are scarce he lives on the fruits of his past labors. Many forethoughted human beings draw an analogy from our friend Ursus and store up the fruits of their labors in the summer: of their earnings so that they will have protection against the howling winds versity. And they invest their thing more product sound through Swartzell, Company. First Mortgage Not one investor and snows of ad- vings in some- ive than bear-fat— Notes offered Rheem & Hensey in these thoroughly dependable securities has ever suffered loss in fifty-nine years. The present yield one—6‘¢. is an attractive Swartzell.Rbeem & Hensey Co. Morigage Barkers T2T15tb Street, N.W. WashinglonDC. L9 Years Witheut Loss o In Luvestor