Evening Star Newspaper, August 28, 1928, Page 11

& TiN ANCIAL TRADING IN BONDS CONTINUES SHALL Market Works Within Narrow | Limits—Heavy Tone Prevails. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK. August 28.—A with- drawal of some of the large buyers of bonds from the market pending the month-end money conditions and an ir- regular trend of stock prices resulted in a narrow trading session today and A heavy tone in both investment and speculative issues. The call rate of Ti; per cent and few offerings of time money at 613 per cent made it difficult to interest in- vestors in securities of much lower yield Being less in competition with money an domestic bonds, the foreign issues held steadier, with slight improvements in some parts of this department This week's statement of the Federal Reserve indicates that member banks have reduced their holdings of Govern- ment and oth curities by $285,000,- 000 ce the end of June. ects of High Pricing. most of the syndicates free markets established heir issues, there some leftovers that show the effects of too high pricing last Spring. Today the | Cities Service debenture 5 per cent bonds, brought out last April to the! extent of $50,000,000 at 98, were offered | at 91 The Treasury certificates lost thej ground gained vesterday. The 33 and 4',s were the weakest of this group. Fourth Liberty 41,5 were back to 10. | Fractional declines occurred in such high-grade rails as _Atchison. Union | ific. Northern Pacific and Baltimore ! Ohio 45 and in Frisco & Wa- bash 4!,s. The convertibles were dull and heavy. Andes Copper and Anaconda Copper s and Public Service of N. J. 41.s were off half each. with some later improve- | ment. St Paul adjustments were at| one time about 2 points under last week's high. Brooklyn Union Gas 5158, | ‘however, gained 5': points. Local trac-! tions reacted to Saturday’s prices. | | Strong Features. i Strong features in the industrial list were Shscllu 6s and 7s, Dodge 6s, Cuba Cane 8s, Armour 5!2s and Pathe T7s Some accumulation of Bolivian issues | on the improved credit situation of‘ Bolivia and in Greek 6s was noted.| Tokio Electric 6s were in demand above | 91. Italian governments and munici- pals were easier. No new bond With the approaching holiday money stringency at the end of month. little is expected until after the Government financing has been ar Tanged. While dissolved ave | e issues were offered. | and | PEACE PACT IS SEEN | AS AID TO BONDS| European Dollar Issues Believed Strengthened by Kellogg Treaty. Special Dispatch to The Star. i NEW YORK, August 28.—It is not | to0 much to say that the “pact of | Paris” signed yesterday has strength- | ened the position of all European dollar bonds and should make it easier for| banking houses that specialize in such issues to distribute them to the Amer} can public when the investment market again comes out from under the shadow | f high money. O e chief resistance that has been | met in the sale of foreign bonds, par- ticularly those of countries that have a record for waging wars of 'has been the fear that other wars woul occur in the lifetime of the bonds issued and that the holder would suffer a | severe depreciation in his capital and | possibly lose his interest. Bond salesmen have met this argu- | ment frequently, though less in the past | three years, or since the Locarno treaty | and the inauguration of the Dawes | plan, than earlier. It has been diffi- | cult, however, to persuade many in- | vestors that they are taking little risk | p, of war when today they purchase the obligations of France, Germany, Iuly.I Austria, Czechoslovakia or Hungary, or | those of the chief cities and provinces | in_these countries. ‘The position of the United States as | a creditor nation has changed radically | since the League of Nations was formulated In 1920 we had only just begun to lend money to Europe and the rest of | the world. In 1928 our loans abroad amount to from $14,000,000,000 to $15.000,000,000, of which the largest part | s to nations on the continent of Eu- rope as well as those in the Far East who have piedged themselves to observe | not only the letter, but the spirit of the pact 10 outlaw war Temporarily the market for foreign | loans has been closed by the high rates in this country for money and the con- | gestion that has prevailed among the Joans brought out last Spring. It is not | expected that there will be a great deal | of activity in this department of the| 1 stment market for the remainder of | th: year. Those who have been giving | their attention to foreign loans, how- ever, see in the improving economic ! conditions in Europe and the will to} peace now prevailing a foundation of | confidence in the loans already floated | Humbi Lib 3%s. .. Lib Ist4%s Lib 3d 4ys. Lib4thags US 33843, US 3k, USas 1044, US4Ks52, { Arsentine 58 Argentine Argentine 68 B. ... | Australia 4368 56.. | Australia §31955.. Australia 58 1957, . | Bank ofChile 6%s. | Belgium 6s. | Be'gtum 6348 | Belgium 7s 195 Belgium 7s 1956. | Betgium 7348 Boiivia 8s. .. | Bordeaus 6s... . Brazil 6155 19 Brazil 6s 19; ’Hrllll s Brazil 8s Bremen State Canada 5s 19 Canada 53%s 1 Chile 7s 1943 Columbia 6s 19 Con Pow Japan 7 Copenhagen 41 ‘53 Copenhagen bs ct. . Cubu 5gs Czecho 88 1951.. Czecho 85 1952.. ... Denmark 6s Dutch East 165 4 Dutch East | 6s £l Salvador 8s 48 ©niand 5%s Finland 7s Framerican 7%s. French 7s.. French 7145, German 7, Ger Am German ary 7%:s irish Free State 5s. Italy 7s.... Italian Pub Japanese 4s.... Japanese 5§38 Lyon ss Mexico 4s 04 asntd Milan 6%s. .. Montevideo 7s Netherlauds s 54. Nord 83 Norway §s 1963 Norway 534s. Norway 65 1943 Norway 6s 1944 Nourway 63s 1952, . Paris-Ly-Med 6s. Paris-Ly-Med Ts. . Peru 65 67 w i Peru 7% POI4nd 65 40. 4+ .x+ Poland 75 (rets). Poland 8s. | Porto Alegre s | Rio de Janeiro 643 Rio de Jan 8s 1946, Rio Gr Do Sul 8 Rome 6%s... Sao Paulo 1950 Saxon (PW) T Seine 7s 42.. Serbs Crot Slo 8 Shinyetsu 6%s 52. . Tokio %9 1961 UtdKingdm 5%s 37 Yokohama 68 w .. i 99 13 1011 I8 100 1018 98 2 25 9 10 16 4 14 1 1 3 h 1 3 4 10 4 4 10 3 7 6 5 1 4 : 4 19 100 101 Low. 99 19 101 08 14 13 103 10 106 16 106 3 11116 1116 FOREIGN, Sales. High 9 10: 6'% Cloge. ¥9 19 1011 100 017 98 106 10 1o 963 . 8 108% 108% 98 100% 115 10514 1001 109 101% 1001, 100% 1021 Ay 9914 R a6 102% 1104 110% 104 1037 103% 109% 91 100% 1010 96 9730 261 9T 100% 101 1001 0ty 10015 108% 1087, 1014 101% 100 1004 | 100% 1004 1021 16 a1y 95% 1025 1023 ‘1104 109% 110% 104% 1044 W 103% | 103% 108% 10! 9l 100 107 106 94 v 1091 9174 100 106 106% { 107 1144 1144 | 10 94 100% 1004 1015 102 ¢ 100 101% 1074 99%¢ 1084 102% 104 1% 9038 104% 108% 964 101 100 107% 107% 944 4k 100% 1015 | 97 | 97 94 940 99% 100 102% 102% 102% 102% 102% 102% 991, 99% 1034 1034 90 103% 103% 83 90 “ 8 | 90 99% 106% 106% 9574 96 107% 107% 107 92% 107 92% 107% 107% 100 106 24 99% 100 105 984 | 92% 99y, 103% 1034 1024 1023 | 1024 1024 111 111% 904 904 | 1044 104% | 108% 1084% 9 MISCELLANEOUS. 105% 105% 1024 1024 107y 107% 103% 104% | AmAgriChem 7%s. Am Smit & R 1st Anaconda cv db 7 Andes Copper 7s. . Armour&Co4 %839 Armour Del $%s. 7 11 3 105% 1024 107% Barnsdali 6s 1940. 261 104% Bell Tel Pass B Bell Tel Pa5sC... Bethlehm Sti pm 68 Beth Steel rf bs Beth Steel 53 hiehem Steel 63 Bkiyn Bdison 6s. Bkiyn Union 5%s Bush Term Bidg bs Certain-Tds % srets | Chile Copper b6 Col Gas&El deb Con Gas N ¥ 5% Cuban Am Sug Denver Gas 58 Detroit Edison Dodge 63 L3ast Cuba Sug TH%e Fisk Rubber § Gen Asphait 65 36, . Geo Mot Ac Cor 6s, Goodrich 648 Goodyear 5s ret 01l 63, Humble O & K 5% inti Cement Gs 48.. Intl Match 58 47. int Mer Marine 6 int Paper bs 47 int Tel&Teleg 4%s Kelly-Spring 85 Lackawanna Sti bs Loulsy G & I 68 52 ManatiSug of T%s. Lauclede G 6% 62. Midvale Stees 5 Mont Power deb 6s Mor's&Co 15t ¥, and @ justification for additional loans | when market conditions unce more right | themselves N Y Bdison 68 44 NYGELH&PSS N Y Teltmdl 15 1 79 2 19 1 26 34 1 1 % 1 14 13 1 i 6 104 104 296 100% 1081 102 1071 91% 995, 101% 1020 103% 104 100 100 B1% 104% 1064 107% 987 9614 98%, 104% 1044 103'y 103% 106'% 1064 987 105 124% 98% 105 1293, 129% 913, y2ls 104 91% 924 1045 105% 106% 1077 107% 99 991y 100% 100% 102 102 1034 103% 104 266 104 276 100% 100Y% 01 941 993 105 106 1y 94% 9% 05 106 100% 100% 1075% 107% 981y 98% | i Man Ry 2d 4s 2013 | West Maryiand 4s. 1015 101% | 107% 107% | Slight 91t 9l 993 100 101 6% 964 | favorable private crop advices and prose | 2 lz’;}.;mcu for further showers in the East-| 31k 102% 102% | 108% 108% 104 104 | THE EVENING STAR, WASHINGTON. [ o BONDS o ] Received by Private Wire Direct to The Star Office UNITED STATES. (Sales are in $1.000.) High. Close. 116 112y 871 les. High. 116 112% 8Tl% 98l 100% Low. 116 112% 8714 981 100% 981y 98% 9814 0% Ches & O gn 4%4s.. Chi & Alton 38 Chi & Alton 3148, Chi B&Q gen 4553, CB&Q4%s77B.. Chi B & Q st rf 58, ChI&E 11 &0 63 61. Chi Gt West 48 59. CM&SLP ret 413889 ChiMIISP&Pacss b 50 CMSP&Pacad! A=03161 Chi NW 418 2037, Chi& NW 6348 Chi& NW 7s.. Chi Rys6s..... ChiR1& Prf4s. CRI1Pacateswi, ChiTH &S E5s.. Chi & W Ind ¢ C& W i5ls CCC&StLrf6sA. Clev Term 5s Chi Union Sta b Cuba R R 5s. . Cuba Nor 58 cts. Del & Hud 51zs. Den & Rio G cn 4 L R10 G West bs Det United 41 e 1st cons 4s. 0 Geu 4s. . ¥ Erte vt 53 67 wi.. i Fla East Cbs74. Grand Trunk s... Gt Nor 4148 76 D Grt Northn 414s B, Great North bl4s. . Great Nor gen 7. . Green B & W deb B Hud & Man aj 5s. . Hud & Man ref 5. L1 Cent 4% 8 86.... 111 Cent Chi 43%s 111-C-C- StL&NO b3 tnt Rapid Tran 58, Int Rap Tr 6s stpd. Int Rapid Tran 6s. Int Rap Trans 7s.. Int&GtNorad; 6552 9 Kan City Ft S 4s Kansas City § 5 Kan City Term 4s. Lake Shore 4s 31 Lehigh Val cn 4s LehighVal con 414s Lehizh Val 5s 2003, Long Island 65 37.. 1054 987 64 Mil EI Ry & L 58 61 M St P & SSM 5%s. MEK&TprinbsA. Mo Pacific gen 4s. . Mo Pacbs F 77.... Mont Trm ref 5s 41 Nassau El 48 51. .. 100 9314 Centr f 58 Cent deb 6s. Y CentLS cl 3%4s 1064 89l 103% 60 B 661 90%, 103% 1123 9814 105 88% 101 1034 1104 108 40 1084 105% 106 98% 96% 98% NYStateRy 68 62 NYWaB4y Nor Pac 38 2047. Northern Pacific 4s Northern Pac 68 D. Northern Pacr | és Ore Short L rfs 4s. Ore Short L cn 5s. . Ore Wash Ist 4s... Pennsyi con 4%s. Pennsyl 6s 64 Pennsyl 614s. Pennsy! goid s Peoria & E inc Pere Marq 18t bs... PCC&StLGSsA.. PCC&StL 5B 75, ., Reading gen ¢%s.. Reading J Cds51., RIArk& L aYys StLAM&S 4s2y... St L IM&S R&G 4s StL&SFpi4sA. 6 StL&SFrawns 78210 StL&SF prinbs. StL&SFincés... St P& KCShL 4%s St P Un Dep 5s.... San A & Arn Pds.. Seaboard AL 4s sta SeabAL ad) 68 1949 Seab A L con 6s... SB Al Fla6s36A. Sou Pao 4s 29 Sou Pacclt4s..... Sou Pacific ref 4s.. Sou Ry gen Sou Ry Con b, Sou Ry 6s 56.. Sou Ry 6%s.,.. Tex & Pac 58 B 1971 Third Ave ref 4s 60 Third Ave Ist 5s... Union Puc 18t 48 Union Pacitic 45 68. Un Pac 4% 67 Va Ry & P 53 Whash 41478 ref Wabash 6% 75, 0 983 BRly 9244 B8 109% 1131y " 100 68 955 1 864 9T 100 90 1034 0 984 9T " 100% 68 95% E @ rxnde cFornm meeSe-Snan- Western Md 64s. . Western Pacific 6s. 17 9T COTTON IS QUIET. Advances Scored Despite Reaiizing Sales. NEW YORK, August 28 (#).-—Un- ern belt promoted some trade or com- mission house buying in the New York | There was a noticeable revival of ac- \WHEAT TREND GOES | Cotton Market today, although general | 107% 107% 1 business remained quiet. 101% 101% [ Advances of some 25 to 30 points from yesterday's closing figures were checked by realizing, but the market held with- in a point or two of the best around 94 100 |2 oclock 994 L 99%, B7% 104% 104% 1065 106% | 106% 107% | Grocery & Baking Co. of Cincinnati Grocery Chain Expands. NEW YORK, August 28 (#).— Kroger | ferred jumped 5 points to 120, thereby | | bottom. | International Nickel Rights to a new | o RYE- September . CURB STOCKS SHOW | BIG IMPROVEMENT Underlying Strength of Mar- ket Is Displayed in Trading Today. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, August 28.—The Curb Market today gave an impressive dis- play of its underlying strength. In view of Monday's developments in the credit situation and the prospect that as the end of the month approaches funds for speculative purposes will be withdrawn from the stock markets, the manner in which profit taking was ab- sorbed by new buying was encouraging from a bull standpoint. | Stocks which recorded most improve- ment, however, were those representing | companies that have been capable of | reporting increased earnings. 1 Safeway Stores at 635 gained 5 points to its highest in history. Celanese Cor- poration common recovered several points of its recent loss, while the pre- | recovering from the year’s absolute The demand which carried top above 4 was sympathetic with pro- nounced strength in the shares on the Stock Exchange. A new top was reached in Bullard Machine as it crosesd 85':, but it felt the effect of profit taking later. The special operations kept on in Columbia Graphophone, but the price was still well under the recent high of 81%. tivity in a number of low-priced radio issues, notably De Forest Radio and Freshman Radlo. Mining issues, notably Noranda, were in demand. Shattuck Denn was well bought close to the 18 level and Golden Oils and utilities | o | fluctuated over a comparatively narrow | range. | | | | Centre held above 10. UPWARD WITH CORN e | Margin of Gain Small—Market Dull—September Is Feature. By the Associated Press. CHICAGO, August 28.—Shorts cov- cred freely in o buoyant corn market that appeared heavily oversold today, offers being scant and trade not large. Crop comments from Nebraska were less favorable and September, continu- ing to tighten, went to a wider premium | over December. Wheat trailed upward in the wake of corn after an initial slump in sym- pathy with Liverpool, but u':e margin was small and trading dull. Unofficial reports that Northwestern farmers are declaring their intentions to hold wheat for better prices was be- coming an influence in the market. Wheat closed firm, 14 to 13 her; corn 2% to 4c higher, oats firm, 15 to 1'4c up, and provisions steady, 2¢ low- er to 15¢ higher. WHEAT September Decerrber (new) [l December ... March $% INVESTMENT TRUSTS NEW YORK, August 28— Special Dispatch'to The Star. :m :- g!::’lc’f;flnu;flm . m & Brit Con 80% br bt v Am & Brit Con % pf. "\ Bankers' Pinancial Tr. ... Bankers’ Inv of Am. Bankers' Inv Colonial Invest Shar Continental Securities Diversified Trustee Diversified Trustee Enst Banker 2 Bankers' First Invest A pf. Pixed Trust Shares vol com Greenway Corp. . Greenway Corp pfd. Intercont Inv 6% units. Insur Snares A 1080 ‘om, units. Joint Sec Co i uniis Joint Tnvest Inc Mass Investors Pacific Investing . Pacific Tnvesting . 8econd Financial Invest... Second Int Sec Second Int Sec 6% pf Shawmut Bank Iny Standard Tnv_Corp, U8 Shares A u u u u U HOLDING AND FINANCE COMPANIES. Amer Founders Trust 108 Amer Founders Trust 6% of . 44 Amer Founders Trust 7% of. . 49 itin Fin Corp units dit Allfance A ex rts 186 Fin & Indus Becur 116 Fin & Indus Secur pf. 108 Fin & Indus Becur warranis. . 120 INSURANCE COMPANIES. Fire 820 Lite Newark Actna Aetna Am Ing Sale in D. €., TUESDAY, NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office Following is a list of stocks and bonds traded in on the New York Curb Market today: o INDUSTRIALS. Hundreds. 'i%lu.. 1w Clpse. 3z 3 s ll“ll:: Bost” Ferce . 33 I Nitra e Sec wai A B mos| nchor nglo Chi 8 Balal 33 Bancitaly Co_ . i, Bingh L H & P pfd 101% 101 1 Blum 4 50 Bohn Al & Br 2Brill Corp A... 3 Brist Myers 12 Brit-Celanese Lid ton G_Lt ctf ity R e r Am. . s Celan C Am 1 'pfd liuloid Co n 4 Dublier C & 1Duplan Silk 7 Durant Mot. . 2Durh Dup » pfd 9tn 1143 El Bond_& o Cor El B & Sh Co pid 34 EL Inyest Inc ec Ve B B ivans Wall Lead 1 Fageol Mot Co 26 Fedders Mfe A | pire An Epiia 9, restone Tire 7% 1Pitchburg G & E ... 1270 Florsh Shoe A i 2 Florsh _Shoe pid . Mot Co Cain n i 2. 2333BI 25 BNAVVI5 T W 6 Monsanto Chem 27 Municipal Serv ... 3 Nat Prod 2 Mfg & Stores 1Nat Pub Ber A.. 11 Nat Rub Mach ... 2Nat Theater Sup de_ Journal . 5 Noma Elec . 1 North Am Utility 17 Northe _ Pow 5 Northwest Engrg 1 Nova Pro pt pfd 1Pac C Bis pfd 1 Parke Davis Co 2 Peck Btow & Wile 40 Benn Ohio Ed 1y Real Assn BKiyn feh Rad on R Gon id 10 Safe-T-State 11y Snfeway 8t § Batew 1 AUGUST 28, 1928, 62 Golden_ Center M He Min Wes oo 10 West End Ext M Sales | INDEPENDENT OIL STOCKS. FINANCIATL. SAYS U, S-RUSSIAN TRADE IS GAINING Senator Thomas Sees Loss| of Money, However, in Lack of Relations. BY JOHN F. SINCLAIR. Crow 4 Darby 1 Empire & 1% 8% 52% 53 8 .88 81 83 23% 2% 12% 3 12% 1000 oil nd. . 3Tid Os O non-vt.... o Venezuelan Pet... . les in_ STANDARD OIL ISSUES fil‘ll‘;; .‘MER SUBSIDIARIES—STOCKS. 100 Anglo ‘:un oil l;:l I=:4 l;:'. 500 Vacuum Oil Sales in BONDS. thovsands, 66 Abitibi P&P 55 A 1Ala Pow 5. a e 4 Allied Pack 65 23 Alum Co Amer 55 8 Alum, Ltd” 5% Ginn G & E 4s it Serv 5 8 VTRV SO NRONEPPUI - FIIL L PRL - JONL OO - 108 000000 ZPEER =90 nt Intl 7s. Gult Gas' 6'a5 A rbanks Morse 5s.. 9pgo0R0000 uf & s 1 Manitoba Pow 5'as A 10113 ass Gay 51ox 3 3 Midwest Gas Ts A.. 106% 1 Milwaukee Gas 4iis. 9815 Mont War P C 5 A 100 2 Mont Lt Ht & 99, 2 Morris & Co 7 14 at 65 A Pub 17 Nat Pub 4 N 961 981y 0113 1011 00 1 Qswero Falls 2TPac G&E dl.s E 4Pac_Tnvest A Pe 1 & Rafl 8igs & Rail s’A i R of Hav S Rub 23 Wheel Stl 4! 884, 8945 Sales in thousands. FOREIGN BONDS. 10 Baden 75 a1ty 18 Bank Prussia’ 6s o l‘ 6s. ot elin 63 Buenos Aires Ty ‘52 11 Beunos Alres 7t:s Com & Priv Bk 5')s A8 ibs "Co 65, a7, Tel Tios A [ 9515 a1 101 aTty 3, |larly from the Department of Agricul- Special Dispatch to The Star and the North American Newspaper Alliance. NEW YORK, August 28.—Senator | Thomas of Oklahoma after investigat- ing conditions in Russia, says: “Ameri- can business, is losing millions of dol- lars every year, due to lack of direct re- lations with Russia. American cotton, for instance, used in the largest Mos- cow textile factories, is bought through Germany.” Business, without Government co- operation, continues to increase between Russia and the United States. Direct radio telegraphic communication be- tween the United States and Russia is announced for the near future as a re- sult of agreements entered into between the Radio Corporation of America and Soviet Russia. Russia has 67 broad- casting stations and about 250,000 re- ceiving sets in use. “The signing of the present agree- ment with the Radio Corporation of America constitutes a further step in the establishment of closer industrial rela- tions, and opens new possibilities of | technical co-operation between the two countries,” says M. G. Gurevitch, acting chairman of theuabolfll of the h.?lmmrg Trading Corgon n, commercial rep- resentative of the Soviet Union in the United States. The American tourists are leaving not less than $60,000,000 in the Province of Ontario, Canada, this year, according to a report of the Ontario Department of Highways. | This department estimates that ap- proximately 10,000,000 tourists will have | visited Ontario during 1928. So heavy has been the demand for road maps | there that the Detroit Automobile Club last Spring asked for 10,000 maps from | = the Highway Department. The other day | | it asked for another 10,000 | Onatrio, with its hundreds of beau- tiful lakes and Summer resorts, is ex-|{ pected to benefit to the extent of $100. 000.000 this year from tourists from all | parts of the world. This business has| become one of the main ‘crops’ in many | parts of Canada. 1 Willis H. Booth. vice president of the Guaranty Trust Co. of New York, who| has just returned from an inspection tour of Eu: , says the nations of Eu- rope are definitely “coming back.” I “Increase in the prosperity of Europe will lead to heavier buying from this; country, but it must also lead to greater | selling of European products to other | patrons of the United States,” he says. | As the nations of Europe gradually | return to business stability, the United | States must expect increased competi- | tion for world trade. But increased pros- | perity in any nation should be a cause of congratulation rather than anxlety.| Chris L. Christensen, United States Department of Agriculture, says the United States now has more than 12,000 co-operative marketing associations with a combined membership of about! 2,000,000 farmers, doing an annual busi- | ness of $2,500,000,000. Of these, there re more than 100 co-operative: asso- | clations which sell annually products worth at least $1,000,000 or more. “Co-operation among farmers,” Mr. | Christensen asserts, “is not an abstract theory, but a practical way of applying better business methods to farming and to eliminate wastes in marketing and distribution, to set up standards by which farm products will be graded and sold and to aid in adjusting produc- tion to market requirements. The farm co-operatives deserve and have a | right to expect active assistance from the Federal Government and particu- ture.” Nearly 480 citiles in the United States | have adopted the commission form of city government, and have substituted a trained business manager in place of the old city council and mayor plan of local government. Some of the| largest cities in America are wnrkmgj under the commission plan. Cleveland is one. Cincinnati is another. Each pays | its manager $25,000 a year. | | Most of the other commission cities | r}' from $10,000 to $15,000. Cities have found that by paying salaries large | enough they can compete on an equal | plane with curmznunns demanding the | same type of ability. ‘The commission plan has worked sat- {sfactorily in most cities, and has done | much to eliminate favoritism and graft | in city government. | (Copyright, 1928, by = North American | Newspaper Alliance.) BALTIMORE, Md., August 28 (Spe- clal), —Potatoes, white, 100 pounds, | 1.00a1.25; new, barrel, 1.50a1.75: sweet | potatoes, barrel, 1.50a3.50; yams, bar- Tel, 3.00a3.50; beans, bushel. 1.25al.75; beets, 100, 2.00a3.00; . 4.00a 7.00; carrots, 100, crate, 2.50a3.00; corn, 2a20; cucumbers, basket, 50a1.00; eggplants, | basket, 40a60; lettuce, crate, 1.50a2.50, {lima beans, bushel, 1.25a2.00. | Onions, 100 pounds, 1.75a2.25; peas, | bushel, 3.00a3.50; peppers, basket, 20a 50; squash, basket, 50a75: tomatoes, | basket, 25a50: packing stock. bushel, 40a50; small, vellow, basket, 40a50. Apples, bushel, 50al.50; crabapples, basket, 25a35: blackberries, quart, 8al0: cantaloupes, basket, 40a85; crate, 50a | 1.25; damsons, basket, 80a1.00: grapes, | basket, 50a75; huckleberries, quart, 10a 15, peaches, bushel, 1.25a2.25; pears, | bushel, 1.25a2.50: seckle pears, basket, | 50a75; plums, basket, 65a75; water- melons, 100, 10.00a40.00. | WE WILL SELL $5,000 Fairfax Apt. 6'%¢ Gen. Mtg. Gold Coupon Bonds, Due 1943, at $800.00 per $1,000 Bond. MEHLMAN & COMPANY 1319 F St. N.W. Phone Main 8817 FIRST & SECON TRUST MONEY Complete Financing —of both FIRST and SECOND trusts on —HOMES —APARTMENTS -—BUSINESS PROPERTY No Appraisal Fee Prompt Service Real Estate Mortgage & Guaranty Corporation Main 1403 26 Jackson Place il We Finance Mortgage Loans 5%% and 6% Use our long expericn and close co-operation in securing your Mortga« Loans on business or re Q dential property. 1 decisions. Mortgage Loan Deparment SHANNON & LUCHS, Inc. 1] 1035 K 5t MW, Phone: Man 2045 Over a Third of @ Century’s Ezxperience Formalities Aside Get us on the phone today and call us into conference for a discussion of the means that may be taken to make your property pay better, continuously, throughout the months on ahead. course. B. F. SAUL CO. Main 2100 925 15th S OR banks and other conserva- tive investors requiring & high-grade, short-term security, we now have available first mort- gage notes, secured by completed Washington propertic: maturing in one to three years. They yield 6%, and hecr thi Corporation’s direct and une- quivocal guarantee of principal and interest. Deseciptions of these notes, und 2ipage booklet about Guaranty Securities mailed upon request. REALESTATE MORTGAGE & GUARANTY CorPORATION Capital Resources § 3,400,000 26 JACKSON PLACE ¥ Tel ! Norin Am | Nor Ohio Tr & L 6% Hidrs. of | Nor States Pow 68, 4 | Paciic Gas & K1 68 16! PacT& T ba52, 15 | Pan-Awer Pete 6s. 30| pucamount 6s 1547 20| Pathe Exchonge i Phila Cobs 67 wi. 1110 14 100% 110 1001 100 102 102 104% 10 101% 101% 11y | aonounced through its bankers today | the acquisition of the Eagle Grocery | Btores Co., operating 115 stores in and jeround Pittsburgh. This brings the total of the Kroger grocery and meat |{ | stores operated in the Middle West to 4 | more than 4,300. The Eagle chain was | acquired through the transfer of stock. | j Its total sales in the first half of this | year were $1,873 Hay and Grain Prices. Wheat—No. 2 red Winter, dome: ——— no quotations; No. 2 red Western, gar- ggk ; d;mn:is‘t:lc. Auquit, delivery, ;:;’;33" 70 plember delivery, 1.321: spot. 1.33. = o Bag lots of nearby, at whart, 110, | =1 Unconditionally (== Cargo on grade, No. 2 red Winter. | /4 ° koo o rlicky, 1.821:; No. 3, 1.201.; [ \26%:: No. 5, 1231, Corn—No. ‘2 yellow, domestie, 1.18, | nominal; No. 2 contract, export, no uotations; corn on cob, new, 5.75, nom- | al, per barrel, Oats—No. 2 white, domestic, 47048; No. 3, domestic, old, 46a47, Rye—Nearby, 1.05a1.20. Hay—Recelpts, 41 tons. New hay from nearby points in light receipt, but ; ample for the limited demand prevail- | ing for both timothy and clover mixed. ' ‘The market is holding fairly steady at | a range of 14.00 to 17.00 per ton as ‘o quality and condition. 1 Straw—No. 1 wheat, 11.00a12.00; No. | 1 oat, 12.00a13.00. | Dairy Market. Live poultry — Spring chickens, pound, 32a35: small, 30a31. Leghorns, 25a32; old hens, 23a20; Leghorns, 22a23 rolina DIVIDENDS. Pay Cau @ Franklin | Gen " Retniu Globe & GLAmericar Hanover Hurtford Home Imp & Kxp Lioyd's P G Marviand Cas Nat Casunity No. 1 4 uthern Qrog ou Girocery A 3 Southern Ice & U 12 Bouthern Tee & U outhern Stores A ald A G o ) Pire g Write For Thi Booklet Today 1t's just off the presses. Brings you photo- graphic reproductions of the fine type of owner - ocoupied homes in nearby Maryland which are security for our 6% First Mortgage Notes. Also back of these homes is our unquali- fied guarantee of prin- cipal and interest. Alloy Steel Price Increased NEW YORK, August 28 (:#).—Leading | Cleveland alloy steel producers have in- creased the base price $2 a ton, efi. tive immediately, and pig fron sellers are | preparing to increase the price for local + | delivery from $17.50- 10 $18 Vostal Tel & CO%s | Publio Service 4 45 ReuingLonAr 6 82 3 5Ys war. new tern Bros W vic o tinnes w0 Serb 0 a 78 B in Hugo 75 isy Qovt Blas ‘ i Elec Serv Ts A nd 614 o inciair Uil 64, inelatr OV 7s. .. .. 29 | Bineisir Crude 6%s 17 11| Sin Pipe Line bs. .. i6 | Bkelly Ol 6 bn 40 | Southwest el 6s. BLand O N J bs 46 15 103 ugarEstOrientels 1 100 Tennklechow s 47 % 106 United Drug bs 63, 13 b6 | U8 Ruo 1stef b8 13 w7 US iub T 101 US Steel s f bn. 44 107" 101% 10 97% UK Y3k Wi 92 2 103 1030 1025 joi 100 100 106Y 1064, i B, 1007 107 9 101% 95 Vi3 Machine Tools Inquiry. NEW YORK, August 28 (4% —In- { quiries for muchinery are good in vol- { ume for this tme of year and prosp« | for Fall business are much better than | & year ugo, states American Machinist, | Indications’ are for the lurgest sales of | machine tools in the first eight montis | of the year since 1921. Automoilve prospects dre exceptionally favorable, os il 14 1084 R o1 91 % 8T 81N " Bluyvesant Sun Tife When ssued ow With warrants P o3 ishman odd 8hip fngoon Alr vl State Te ruscon Bt i Art 85 iscuit 1 arbon vic I Coal_vie Traveiers p ww- Lo"8 cus us ‘;rm- Ec GERMAN BONDS AND STOCKS o iy st 28 Markets at a Glance AT 101 107 FEDERAL LAI}D BANK BONDS. Asked 5500 60.00 1000 R M per 00 4200 w3500 44.00 1100 27,00 180,00 9 Commers ana Pr 1 G Farben Discont Eerliner Dresdner D 4000 Darimstacater Heyden Chen, ercur Bank Vienns orih German Lioyd 65 0 13.00 Utah Pow & Lt by, West Kiee 68, .. Westn Union Westinghouse Willys-Ov 6% 38, Yogetn S&T bs w i b1, 1 i 10 4 “ 1004 103 1024 10205 1023, 100 RAILROAD | Atenison gen 48 Attantic € &0 Gold 48 H&OUOY ke | B&Oref b | 15 & O 6w 2000 D, | B&O et imy 11 & O Toledo 45. .. Bang & Aroos 48 b1 ouklyn Klec 6% s soklyn Elev 6148 | iskivn Manhat 6s. . | Buft R & Pits 4348, " 6 1015 101% 5 10KY, 9 1h Joon Can Nat 4%887,., 1 EIEY bt w3 Wity 100% 10% 1015 1020, 924 97 1014 101 108% Bt Bi% o 94% o 03 $in 100%, 103 1024 1024y 102 7 1 101% 108%, #% Pre 9% 0% 8714 roosters, and the truck business is again an im- portant factor. Steel mills are making good purchases PARIS BOURSE PRICES. PARIS, August 28 (4%, —Price changes were mixed on the Bourse todny. Three per cent rentes, 67 francs 90 centimes 5 per cent loan, 93 francs 05 centimes exchange on London, 124 francs 20 cen- times. The dollar was quoted at 26 francs 60% centimes. CHICAGO DAIRY MARKET. CHICAGO, August 28 (#)—Butter un- changed. Rcflolfu, 13,364 tubs. Eggs unchanged; receipts, 12,274 cases Poultry, alive, weak; receipts, 6 cars; fowls, 22u27'%; Bprings, 28, brollers, 24, 21; 8 Ll 1702, @pecial Disputen to The Star NEW YORK, August 28 | fand mank 4n May 100028 1 o Bid Askea [ i Y i i Land Ban Ay Land Bank 4las Jan Land l!un: Alus J&J Land Bank 4155 J &J ; il gt Luny " Latd J i 1004 nd Bank os May 1 100% TBEASURY CERTIFICATES. (Reporteo vy J & W Sellgman & Co.) . 18, 42 Do Tmp © A e 4 & Hon 0 NEW YORK, August 28 (#) --Stocks strong; U. 8. Steel makes new 1028 top Bonds dull; price trends irregu- top. Forelgn exchanges mixed, sterl- ing drops to new low for the year. Cot- ton higher; unfavorable crop advices, Sugar steady: trade support. Coffee steady; better Wrazilian reports. CHICAQO, August 28 (#).—Wheat firm; strength cash situation. Corn strong; damage reports from Nebraska. Cattle Irregular; hogs steady to higher, CALL MONEY FIRM. NEW . August UI‘ (A —Call all loan: Y3 closing loans: firm; mixed col- 815 4-6 month small and poor, 18a20; old roosters, 15a18; ducks, 22a23; small, 17a18: old 15a18; Guinea fowl, each, 90a1.00; pi- geans, pair, 25a30. Eggs—Recelpts, 517 cases; native and nearby selectedt white free cases, dozen ;::gl firsts, $1a32; current receipts 0. Butter—Cood Rund, - 481 . 4719nd0! packed, 33 process butter, dladlly. Firm e Gots School Bonds. | BALTIMORE, August 28 (Special) — | Steln Bros. & Boyce, local investment bankers, were successful bidders for a new lssue of $175,000 Oty of Clifton Forge, Va., § per cent séhool bonds just awarded. T irities are due Sep- | to faney o - The booklet will be mailed promptly to any address upon request. d 023 15th St. N.W.