Evening Star Newspaper, August 30, 1928, Page 15

FINANCIAL.” (e BONDS ot ] Received by Private Wire Direct to The Star Office UNITED ITAYM".- " 1.5, BONDS STRONG Possibility of Lower Interest 2. on New Issues Seen in @3 Melon Statement. BY CHARLES F. SPEARR. Bpecial Dispateh to The Star. NEW YORK, August 30.—Effort was made today to read into the strength in Government issues and into Secre- tary Mellon's statement on a phrase of TTreasury financing the possibility of & lower rate on the forth-coming notes than had been predicted. All of the long-term Treasury certificates were strong. So were U. S. Liberty 4las The section of the Secretarys r ply to a proposal to make preferential rates on Government paper. that ap- Feu\\d to s t a_lower coupon or & ower vield on the September 15 issue, said: “The credit of the United States Government is. so good that there is no occasion whatsoever of ntwmpuns by artificial me: to place Unitel States Governme! securities in a favored position as compared with commerce, industry and agriculture.” Pressure of Money. This may mean that, in spite of high interest prevailing, the treasury be- lieves it can float $500,000.000 of new notes on a basis & little under the pres- ent market. Neither Government issues nor prime corporation securities were influenced by the steady pressure of money on borrowers. Good rails were up frac- tionally. While the advance has paused, there is no sign of selling by institu- | tions at the higher levels. The play in the market is in the convertible issues. They hold the cen- ter of the stage. Anaconda Copper 7s today touched a new high for all time, rising nearly 5 points and selling about 2 points over their previous high. On this advance they crossed Andes Cop- per 7s, which have held above them for & long while, though the value of Ana- conda 7s is much clearer than that of Andes 7s. Public Service of New Jer- sey 41:& were not so prominent and subject to profit-taking. Trading Draggy. Outside of these few issues there was little in the trading worthy of com- ment. Junior rails were irregular, with Chicago & Eastern Illinois 5s and Mis- souri Pacific 4s off one-half point. St. Paul adjustments were. slightly higher. Local tractions, packing house, oil. coal and sugar issues weré steady. There ‘were “eign list. No new offerings were announced to- @ay and none is likely tomdtrow, in view of the long hciiday. This means that the output of new securities for ‘August has been barely $100,000,000. or Jess than 25 per cent of the July total GRAIN TRADING DULL. Wheat and Corn Prices Drop—Ex- port Demand Slow. , August 30 (#)—Grain trading was listless today on the Board of Trade and both wheat and corn lost ‘ground. With a holiday in prdspect Monday and crop estimates due Tuesday from the leading private observers, the trade exhibited a tendency to await develop- ments and both grains moved gradually Jower in & narrow margin. The weather ‘was generally favorable, harvest re- turns from Canada weakening ‘Liverpool and indications of corn deterioration in of Jowa and Kansas aj to Export demand was slow. Wheat closed easy. 5% to 1'% lower; gorn heavy. % to 3i down: oais easy, & to 1; lower, and provisions irregular, 10 lower to 15 higher, WHEAT— 2 v PErs B35 3882 3338 Fr 2 28 were 87,561, ‘Treasury receipts August 255.141.96. expenditures, 10.78; balance, $200,763,382.94 INVESTMENT TRUSTS Special Dispaich to The Star. <o) ke - r ol units. 88 Brit Co ! % Fivancial Tr s Inv of Am s Inv of Am deb n_Bas A o Lust_Shares secur pf Becur warrants TNEURANCE COMPANIES 196 12 TRADING no important changes in the for- - t. | (Sales are in $1.000.) Hi Argentine 68 Australia 43 Australia Czecho 8s 195 ‘secho §s 195 | Denmark 6: Dutch Ei Finlana 5%4s. Finland 7 | Framerican 7 French 7 French 7% German El P German 7s. Ger Am Bank | Ger Gen Elec | Greek 7. | Haitt 6s. . Hungary Italy 7s.... Italian Pub S Japanese 4s. Mexico bs asn Milan 6%8 | Rlo de Jan §3 Rom Seine 78 42. Serbs Sweden 5i§s. Sweden Am Tel & Tel Armour Del 5 Dodge 6s. Fisk Rubbe: 00dyear b r 1iing.» St lntl Match slidvale Steel Mont Power 5 N Y Tel 4%, N Y Teltndl Nor Suate: Phillps Petro 'lerce-Arrow | %, | Atchison ady Atchinon gen | | Hoe & Co 613, 69 1017 99 4 imnez FOREIGN. Ju Oct s bl 96 Bremen State Canada 68 195. Ca | Chinese Gov Ry 3. Columbia 68 1961. . Copenhagen 413 '53 Copenhagen 6% ot. 1. Danish Munic 88 B. t16s47, | Duteh East 1 65632, k] 6% s Japanese 6148 td Rio de Janeiro 6145 s | Sao Paulo 851938 Saxon (PW) Ts. Crot Slo 8 Shinyetsu §%5 52.. 5% Am Water Wks b Am Writ Paper Anacond: 6 Anaconda cv db 7 Andes Copper Armour&Co4%s39 1 K Atlantic Refin 6. Bkiyn Union 5%8 Certatn:Td5%srets 12 Detroit Edison §s. . 20 Kast Cuba Sug 7% Jen Mot Ac Cor i odrich 6148 et 1inois Bell 18t 5 %) int Mer Marine & inter Paper 6. Int Tei&Teleg ¢ %48 3 Kan City P & L b5, ianGa ks 68 b2, .. lLackawanna St! bs LiggerLt & Myers s Lorillard 8. . ManatiSug sf7'% bl 8 55, 9 t! 6 Sales. High. 100 94y 99 9% 102% 978 100% 1054 107% 106 15 111 106% 100% 96 957 101 109 101% 104% 100% 1021 31le alin 894 961y 110 110 111 . 1045 108in 104 917w 1001y 105% 1067 114% 94 106% 998, 103% 98% Irish Free State bs. w ® e 1o S wa - o+ axCurranssan—ar UtdKingdm 58 37 59 Utd Steam Copen s 3 3 Yokohama s w 1. MISCELLANEOUS. AmAgriChem T3 AmSmit& Ristés 5 AmSmelt& R 6 2 Am Sugar Ref 6s. . AmT&Teltr AmT&Tst6s 26 106 204 13 26 104% 105 99% 101 102 104 1044 280 319 945 995 s 1054 1044 105 8% 108 984 9T 1134 1024 107% 91% 938 9%, 1015 1031, s 103 ) 1037 . 3 1020 1034 1037 1014 1204 9l 103% 100 108% NYGELH&P NYGELH&PbS | Nor States Pow b | Pacifie Gas & K1 bs. PacT&TOnb2. .. | Puramount 6 1947 | Pathe Bxchange is PhilaCobnélwi,, & Por Rie Am Tob 6, rostal Tel & C 6% Stand OU N Jba 48 TennBlecPow 68 47 United Drug 88 63 US Rub 1strf bs. Wilaon & Co 1ut s | WinRepeatAr 7%» | Yagatn S&T be w 1 25 RAILROAD. i A 40 Pr ¥ 8,000 32 101 1018 98268 9824 e 10325 10324 106 21 106 18 Close. 100 80 99 %1 20 1004 104% 10T 106 1148 110% 105% 100% 95% 95% 100% 108t 1011 104% 10013 10414 96% 108% 105% 101% 107% 103% 9874 108% 108 98% 97 1134 1014, 93ty 1031y 106% 1011 1204 91 108% 99% 1031y 106 100 107 e 105 107 yKY Yaly 140 100% YR han o8 99 9% 100% 10144 1064 1013 98 26 904 103 28 106 20 11120 1025 9714 1004 1043 107% 106 114% 110 105% 100% 5% 5% 101 108% 101% 1047 100% 1001 106% 1067 114ty 94 106 101% 94l 1001y o 957 98% 990 101% 98 94 9214 104 1084 102 106% T A% 074 10114 1000 08 THE EVENING Low. Olose. 102 BT Yy 9ty 9T 2% 91 101% 101% 101% 99 99 - 18 SunumBuanlvacane o Nw Chl & NW 6% Chl Rys bs... ChiR L & Pref 4 ChI RI&Pgn ds. CR1Pac4%swi, Chi Un Sta 4348 Ch! Unton Sta b Chi & W Ind en CCC&StL deb 41 C&Sistds29. Cuba Nor 54 s cts.. Cuba RR 74 . Del & Hud 1st rf 48 Det & Hud 5% | Del & Hud 730 Den & Rio G cn 4s D Rio G West b Erie 1st cons 48, Erie Gen 4s.. Eriecvt 5367 w1 Fla East C53 74 Gr Trunk stdb 6 Gt Nor 448 76 D. Great North 5% Great Nor gen 78, . Green B & W deb B Hav El Ry 634551, Hud & Man a) 6s... Hud & Man ref & 23 s SniTaneraunimne CENarensn maa——— 100% 111-C-C- StL&] 102% Int Rapid Tran §s. Int Rap Tr bs stpd. Int Rap Trans 7s.. Int&GtNoradj 6s 53 Lake Shore 4s 31.. Longz 18 rf 4s 49 Long Island 58 37.. Louis & Nash 58 B. Man Ry Man R | Mich Cen deb 4s 29. Mil El Ry & L 55 51 M St P&SSM cn 4s. MStP&SSMbsisgtd MStP&SSM6k%s, M StP & SSM 6348, MC& T 1st 4s.... o 2 ; = s P43 Rerkes mr e R RN~ RERORS =N A INE RN IR L &b - Mo PachsF 17... Nassau El 4s 51 New Or Term 45 NOT&MGb%S. . YChi&StL 6148A . Y NH&H db 48 57 NYRys6s65.... N Y State Ry 4 }4s. Northern Pacific 4s Northern Pac bs D. Northern Pacr | s Ore Short L rfs 4 Ore Short Lien & Ore Short L s g Pennsy! gen 4% Rio G W 1st 48, St L IM&S 48 29 St L IM&S R&G StL&SF pl A StL&SFre%s18 St L & 8 F or In §i StL&SFincés. StLS Wist4s.... StL S Wcon4s 32, Seab A Lref4s.... SeabAL adj 5s 1949 Seab A L con 6 SB All Fla 68 35 Sou Pac 48 2! | Sou Pacific ref 4s. Sou Ry zen 4s. Sou Ry 68 66. Sou Ry 6%s. Tex & Pac 58 B 1977 Third Ave ret Third Avesd) § 4 Unton Pac 18t 45. . Union Pac 1st rf 48 Union Pacific 48 Un Pac 4% 67, Virginia Ry 1st §s. Whash 41;8'78 rets h 5376 B. .. West Maryland 4 Wheel & L Ecn 4 Wis Cen gn 45 49.. Som mnom - Kmoikce RRe-Tra kpuaamemseea~S Baltimore Markets BALTIMORE, Md, August 30 (Spe- cialy.~Potatoes, white, 100 pounds, 1.00 al.25; new, barrel, 1.2582.00; sweet potatoes, 3.002350; beans, bushel, ).25a1.75; beets, 100, 2,5003.50; cabbage, 100, 4.00a '700; carrots, 100, 3.0085.00; celer: crate, 2.6083.25; corn, doze cucumbers, basket, 50a75; basket, 40a60; lettuce, crate, 1 lima beans, bushel, 2.75a3.00 Onions, 100 pounds, 1.75a2.25; peppers, basket, 20a50; squash, basket, tomatoes, basket, 25a40; packing stocl bushel, 52%; small, yellow, basket, 3540, Apples, bushel, 50a1.50; crabapples. basket, 25a50; blackberries, quart, 9a 11; cantaloupes, basket, 35a65. crate, 50a1.25; damsons, ~ basket, ~80a1.00; grapes, basket, 50a75; huckleberries quart, 12a15; peaches, bushel, 1.25a 2,25; pears, bushel, B basket, 50a1.00; plums, basket 5475, ‘whtérmelons, 100, 10.00040.00 Live poultry Dairy Markets. 32635; small Spring_chickens, pound, 30031; Leghorns, 26a32 old hens, 24030, Leghorns, 22823, small and poor, 18a20; old roosters, 16a18; ducks, 2 small, 17a18; old, 15a18; guinea fowl, each, 90a1.00; pigeons, pair, 25a30. Eggs—Receipts, 1403 cases; native and nearby selected white, free cases, dozen, 40; firsts, 32; current receipts, 30. Butter—Good to fancy creamery, pound, 46a48':; prints, 48,460 ; blocks, 47',840 ladles, 35a38; store packed, 33; process butter, 4la4lls. Hay and Grain Prices. Wheat—No. 2 red Winter, domestic, |no quotations; No. 2 red Western, gar licky, domestic, August delivery, 132!, {September delivery, 1.3"1,; spot, 132V, l"?“ lots of nearby, at wharf, 1.05a | Cargo on grade, no sales | Corn—No. 2 yellow, domestic, 1 {123 nominal; No. 2 contract, export, no quotations; corin on cob, New, 5.75a 16,00 nominal, ver bareel Oats—No. 2 white, domestic. new, 47' 4048, No. 3, domentic, old, 4847 Rye- Nearby, '.05a1.20. Hay - Recelpts, none. New hay from nearby points in light receipt, but. am- rle for the limi»d demand prevalling or both timothy and clover mixed. The market 1s holding fairly steady at a nge of 14,00 to 17.00 per ton as o quality and condition. Btraw—~No, | wheat, 11.00613.00; No. 1 ost, 12.00813.00, IADVANCES INCURB | of profit taking. | previous records in volume of business | had been consolidated at Toledo, Ohio. ! Amer. et Wa o Fle Wash' Rwy. & Elec. gen. 65 barrel, 1.50a4.00; yams, barrel, | 1.2502.50; seckle | » STAR. WASHINGTON, D. (. THURSDAY, AUGUST 30, 1928.° STOCKS CONTINUED Market Again Shows Upward Trend, With New High Records. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star, NEW YORK, August 30.—The specu- lative fever that has had its reflection in the heavy buying movement on the Curb Exchange again told upon the movement of prices today. The charac- teristic bidding up of industrial spe- cialties resulted in the new high rec- ords in the issues selected for leader- ship. With the call loan renewal rate again fixed at 7'. per cent, the specu- lative element was content to ignore future developments in the credit sit- uation and was concerned only Wwith present conditions. Mining shares, as a group, played a prominent part in the day’s operations. Excited buying of copper shares on the Stock Exchange communicated itself to the related issues here, and higher prices were the rule for Newmont Mining, New Jersey Zinc and several others. Noranda Mines was an exception, possibly be- cause it had assumed leadership some time ago and was now feeling the effect Among those most prominent in the upward movement were A. G. Spalding, up more than 4 points: National Rubber Machinery bonds and stock. Zenith Radio, up 4 to 107, and Grasselli Chem- ical, up almost 2 points to 617%. All these went into new high ground and were influenced by highly favorable trade conditions. A number of issues that had left off at_their best prices Wednesday were difficult to obtain at previous closing prices. Motor stocks were led by Mar- mon Motors, up mor. than 3 points when crossed 50, and Ford Motor of Canada, up 5 points further despite the 16 ~oints advance vesterday. Public utilities fluctuated over a nar- row range and the same was true of the ofls, although no weakness develop- ed. Plywood responded mod- erately to the publication of the year earnings statement. BELL NAMED CHAIRMAN. NEW YORK, August 30 () —Victor C. Bell of A. D. Mendes & Co., New York investment bankers, has been elected chairman of the board of the Safe-T-Stat Co., succeeding Albert Ramsay, who retired. Mr. Ramsay, in reviewing the condition of the com- pany, pointed out that it is breaking all and prospects for capacity operations at the present plants, and also the ad- ditions being completed are good. He sald the company's plants and those of A. C. Nagel Co. recently acquired, EARNINGS REPORTED. NEW YORK, August 30 (P)—The Union Tank Car Co. of Chicago in the first half of this year earned the equiva- lent of $3.34 per common share, against $4.30 in the first half of last year. Penn Central Light & Power Co. and subsidiaries of Altoona, Pa., earned net income in the year ended June 30 of $1.- 236,063, against $1,037.582 in the pre- vious year. The Stromberg Carburetor Co. reports net profit for the first half of the year of $179,220, or $2.24 per share of com- mon, against $107,245, or $1.34, in (he first half of 1927. The company’s main plant is in Chicago Economy Gtocery Stores, Inc.. of Bos- ton, earned $145.049 in the year ended June 30, equal to $1.45 per share, against $146.230, or $1.46 a share, in the pre- vious year. Washington Stosk Exchange SALES. ‘Washington Gas 6s “B"—$500 at 10655 Barber & Ross 61,5—$2,000 at 94. Potomac Electric 6% pfd.—10 at 11114, Sanitary Grocery Co. pfd.—10 at 1251, AFTER CALI Washington Gas “A"—$1,000 at 1037 Potomac Electric 5'% 7 pfd.—5 at 106%, Capital Traction 5s—$500 at 1017 Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid._ Asked & Telza. 4% 9870 3 Amer Anacostia’ & Pot Anacostia & Pot. guar C. & P. Telephone 5% C. & P._Telephone of Capital Traction R. R City & Suburban 5s Georgetown Gas Ist 53 Potomac Elec Potomuc Elec. cons. 5 Potomac Elec 65 1953 + Alex & Mt. V.5 % Va. 85 58 sh LLANEOUS, Barber & Ross, Inc.. 6'i Chestnui Farm Dairy 6'.s Chevy ( Bt D C Paper Mic 68 Joint Stock L'd Bk 5y Mt Cold Storage 58 Cons Title be ardman Park Hotel STOCKS. PUBLIC UTILITY Amer. Tel & Telga Capital Traction v Washington Gas Norfolk & Wash 17800 10313 931 Steamboat 300 ptd 4 pfd e Elec, com Rwy. & Elec. pfd NATIONAL BANK Notlonal Cavital Bank Wash 264 District 260 Farmers & Mechrnicy eral-American 340 Liberty Lineoln a0 and tional Bank of Wash TRUST COMPANY & Trust Co. 440 gibiid 182 Unlon Trust Washineton Loan & frust BAVINGS BANK of Bethesdn merce & Bavings st Washinglon Potomac Becurily Savings & Com Beventh Btreel United States Washington Mechanics FIRE INSURANCE 300 150 0 3 Union LY ITLE INSURANCE. American Gorcoran Firemen's National itle Co. of Md. com Title pld MIBCELLANEOUS, e, com A Title & Inv Wash. Cons y oh & Boiuke Merch. Trans. & Stor. pfd Mergenthaler Linotype i b a o ol Peovles Drug Blores pid Beourity Bioraue ., Banitary Grocery O by & Wh u prd Following is a list of stocks and bonds traded in on the New York Curb Mar- ket today: Saleg in hundreds 1 Acetol INDUSTRIALS. Tod A...... 100 29 ipha Port Cem. m Co Amer Ltd... .. Lid jis casih 33 Am_Cyanamid B Dept._Stores. 32 Amer A Amer S 3 Amer S 2 Apponaug Co .. % 1% 1357 134% 138% T T ) 26 IBliss E W... . 15 Bohn Al & Br. i3 Brill Corp ptd xd... 1Brist “Myers 15 Brit-Celanese’ Lid s Bway D _Str 1 pfd 3 Bklyn City R R 24 Buf Nia 13Buf Niag & E P A 1Buf N & IV P_pfd 3Bullard Ma T 1 Butler Brog 8 Campbell Wvant 29 Gan Marconi W ation Milk M 3 Cuneo Press .. 1 Cuneo Pr pld 5 Curtiss Aero Exp . 7Davesa Inc ... 1 Davenport H 674 Deere & Co 312 De For R 1 Doehler Die ¢ €11 13 Dominion St Ltd . 19 Dubllie: C & R . 1 Dupian Sk pfd 2 Durant Mot 4Duz Co A 3Duz Co A vic 2 Bast States Pow B 4 d & Sh Cor 1 Fiat 3% 1'4 Firest 1752 4 Florsh Shoe A 2 Florsh Shoe pfd i, Ford Mot Co Can 12 Forhan Co A § Poundation F 640 Fox Theaters A 5 Fox Theaters RA T L 580 e 1) or A Cash S §Gen EI G tr T 14 Gen Laund Ma 1 Gilbert s 1 Gilbert pfd 2 Gobel A..... ... 20 Gobel _new ...l 3Gold Seal Eiec 1 Gold State Min t g . sselll Chem n.... tel L & Bro . : Grief L & B pfd x 2Grn D W A 2 Hall ¥y Hawalian i Hazeltine Corn 1, Hercules Powd 1 Hyzrade Food 1Ina Ray Cor Co N A N & ris 1Int Cig Mach Co utl Print Ink 7 Intl Prod 3 11ntl Sieeping C & E 40 sintern ULl A ... 47 19 Intern Utll B & Interst_Dep Strs . 8t pfd ! 2 Kaut Dept Strs n 1 Kemberly _Clark 1 Kinnear Stores . 2 Lake Super C 16 Lakey Found & M 14 Land Co Fla 1 Lawrence Port Cem.. 7 Lefcourt Real 2 ourt Real pfd Conl & ?‘IV 84 Marmon Mot 4 Mavis Bottling 1 May Hostery pld 1 McCord R B vie 1 McKesson R R 3 Mead Jol § Melv Shoe 4 Mesabi Iron 8 Midl 8t Prod IMid West Ut 1Mid W U és pid 1Mid W U pr lien. .00 1 Mohawk Hud Pow. . 1 Mohawk Hud war 1 Montecat deb ris. 12 Munigipal Serv (6 Nat Bak ts Theater Sup 1 Nelson H 1 Neve Lrug 1N ¥ Tel Co pfd i Nichols & Shep #Niles Bem Pnd 8 Noma Elec 11 Northwest En&i 10 Novadel Process 1Pac G & E 1 pl | Parke Davis Co 2 pend D Groc B s Penney A pid 20 Penn Qhio Ed i1 penn Ohio Ed 1y Penn O P & 1 Diy War 6% pid 38 23 Peoy 2 ool ) piealy Wiewy 22 Piesly Wi i Pitney Rowes B M 1 Potrero Sus 1 pratt & Lamb € 1, Proct & CGiamble 4 prop Silk Hos Mil GPub S P & L 1 Pug 8 P & Looid 4 Ratnbow Luminous RRay Bos 1 Bouth Co jouthern Groc 6 8ou Grocery A 11 Bouthern fce & U B i, Bouthw P & L pfd 40 Spanish_& " Gen. reg % Bparks Withing 8 8pencer Kellogk 1 Splegel stern 5 Btand _Inv 21 Stand Pow & Lt 1 Stinnes Huso Mot Tob Prod Export vanscon Alr TIsp b L Fiet Bix Fig !‘nlnh( Hate Glas | High. Low. Close <3 20 gz 522.3% - | qutet - S 23582 5538 ER T IS L 4 New Cornell 29 Newmont Min .. v Zinc .. a Ny ) Sea R e RwwI AR I e Cop 10 West End Bxt’ Min Sales INDEPENDENT OIL STOCKS. 88, t.88 B 3 3 Tidal Osage O... 1 Venezuelan Pei .l 1 Wilcox O & G n 1 Sales STANDARD OIL 188 inunits. MER SUBSIDIARD c Q # 8 Kenticky 1308 o ¥ 1200 Vacuum Ol Sales in thousands. 46 Abitibi P s A St Ry 8'as AL rv 56 9914 B 9112 s 9112 o107t 1003, Det Intl 6las o 98ay Dix Gulf Gas 68 A. 83 & R Blgs.. 92% 9513 nt . 6 Inters 3 Invest Equity 55 A.. 3 Kelvin Corp 6s ... .. 65 10 Kop Gas & Coke 85’ 23 Lehigh_Pow 88 A 10: 5 Louis Pow_& Lt 5 1 Manitoba Pow 528 A 20 Met Ed Co Pa 448 D. 78ou Asbestos 6s 1 Southw P & L 65 A 1 Staley Mfx 65 3 Invest’ 58 & SULIP & L 5t 2 Van Camp Pack 85 26 Warner Quinlan 6s tos 13 Wheel Stl | Sates in thousands. FOREIGN BONDS. 10 At Mor Ba 78 21 Akershus 5s... 15 Berlin 68 3 Buenos Ales 1 Buenos Alres 9 Com & Priv 6 Cuban Tel 7 1Free St Prus s 1 Frae St Prus 8us 24 Gelsen Min ‘68 9 Ger Cons Mun 78, 8Ger Cons Mun 9 Ger Prov & C 8lss A 3 Hanover State 4Indt M Bk Fin 78 4 Ttal Superpow 64 X 10115 101 s 98 10 Mor Bk Hogota 78 4 Mor B Venetian s A 4 Munit Medellin 10 Munt_Medellin 6138 1 Nippon Elec 6'58.... 2 Russ G 3 Russ Gov 2 Rus Gov 81,8 ofs 6luy cfs n Hix () 4 Serba Ty B 8 Silesia s ‘With warrants. COTTON IS QUIET. Slight Advances Meet With Real- izing—Prices Sag. By the Assoclated Press. NEW YORK, August 30.—The cot- ton market was quiet again today with fluctuations more or less irregular. Un- favorable weather and crop advices falled to stimulate buying materially, while moderate advances met realizing ‘idation and were followed by re- midafternoon market was quiet ines of about 8 to 13 points. Futures closed steady, 8 and 11 points lower; October, 18.81u18.83; December 18.64018.0 January, 18.61a18.6Y; | March, 18.64a18.66, May, 18,60, Spot, | mid L 10.10. | MAY LIST NEW STOCK. | NEW YORK, August 30 (@ —Wall Street hears that within w few weeks | there will probably be listed on the New York Stock Exchange the 632,835 | shares of the Hawallan Pineapple Co., Ltd, of Honolulu. This would be the first Hawalian concern to be listed oif the “big hoard" The stock is now liat- ed on ourb market. . | Who is lending his money to foreign FINANCIAET INVESTMENT TRUST “CALL" MARKET New Source of Loans Is Said to Have $250,000,000 for Borrowers. BY JOHN F. SINCLAIR. Special Dispatch to The Star and the North American Newspaper Alliance. the New York Stock Market get all the “call” money being used to carry it along? Factors have entered during the last few years such as the surplus money of Individual investors and of large corporations and of country banks. But another important group has come into the “call” loan fleld in re- cent months, and that is the invest- ment trust. Scores of these trust or- ganizations during the last few years have invested many millions of dollars in different listed stocks. Many of these trusts liquidated their stock as- sets at large profits in recent months, | and this liquidation left them generally | supplied with cash funds, which in turn | they have placed back on the market | on “call.”” They have found the “call” | market the best adapted for their pres- | ent needs. It is estimated that ap- proximately $250,000.000 of investment | trust funds are so engaged in the mar- | | ket at present. Robert De Forest Bloomer of the investment banking house of E. H. Rollins & Sons, New York, believes the United States Department of State siould work much closer than in the ipast with- American internatfonal bankers. ! “It is not the international banker | countries,” said Mr. Bloomer. “He merely serves as an agent or trustee for thousands of individual American lngatms." ne person in 40 today in the United States g a bond holder,yof the 3,000,- 000 bondholders, about 1.000,000 have bought foreign bonds for investment. Mr. Bloomer shows that for 1928, up !l NEW YORK PROD 001y | | mostly 73 to July 21, the United States invested about $256,000,000 in Latin America, while all other nations invested only $39,000,000. He estimates that we have a stake of about $5,000.000,000 in 25 republics south of the Rio Grande. “It is not Wall Street th: has a stake in Latin America,” says Mr. Bloomer. “It is the farmer, the doctor, the college professor, whose savings are b}llldin[ a new world to the south of us." How far the Government of the United States should interest itself .in the private investments of its citizens in foreign lands is a much discussed question. So far no definite Govern- ment policy has been fixed. Dr A. F. Woods, United States De- partment of Agriculture, says the men of the United States supply products equivalent to the nation’s requirements for 363 days a year. All America needs to Import now is enough for two days’ supply every vear. To stimulate dairy production from now on will result in overproduction, says Dr. Woods. He warns against the “boarder” cow—that cow which pro- duces less than it consumes. There are 32,000,000 cows in the United States and one-third are in the “boarder” class. ‘The average cow in the United States | produces 4,500 pounds of milk a year, containing a little better than 3 per | cent butter-fat. But the cows in the dairy herd improvement associations average 7,410 pounds of milk with 203 | pounds of butter-fat. The cow-testing i associations in Denmark. in contrast | with this record, have increased their | production per cow to 8,700 pounds, with an average of about 4 per cent butter fat. “The greatest progress in the dairy industry lies not in increasing the num- ber of dairy cows, but in increasing the production per cow,” says Dr. Woods. “If all our dairy cows produced much as those on test at the dairy as- | sociations, we could dispose of one- third of them and still maintain cur present supply of dairy products st an enormous saving in feed, stable room and labor. (Copyright. 1928 by North American News- 1 paper Alliance.) UCE. | NEW YORK, August 30 (Special).— | State big Boston lettuce sold at 23a1.50, 1.00 per crate. Western iceberg type brought Irom 2.0084.00: mainly, 3.00a3.50. State cucumbers sold at 75a1.25 per bushel basket. Dills, brought 1.50a2.25, and pickles, 2.003.00. Western New York Copenhagen cab- | bage packed in sacks of approximately 90 pounds peddled out at 1.25a1.75. Bushel basket of Clapps favorite Bart- lett pears peddled out at 1.50a2.50, and { barrelled offerings from 4.00a6.50. * | Yellow onlons sold as high as 4.00 per | 100-pound sack on Western New York fine quality stock. | Orange County consignments, how- ever, were not attractive enough to com- | mand more than 3.2 | Celery in the rough, packed in two- | { thirds ‘crate, brought from 1.50a2.50. | Some extra fancy commanded more | but inferior sold down to 75 cents. CALL MONEY EASIER. NEW YORK. August 30 (P.—Call| money easier; high. 7'3: low. 7: ruling | rate, 7';; closing bid, 7. Time loans firm: mixed collateral. 60-90 days, 6'5: 4-6 months, 6':: prime mercantile paper, 515a8!,. Bankers' accéptances unchanged. FEDERAL LAND BANK BONDS. Speclal Dispatch to The Star. NEW YORK. August 30 Bank Hank 105 Bank an. 19 Hank 41is Mav 195737 Rank 4l July 1956-36 5 Nay 1943033 Bid Asked ass, * 9gly July_19%opae v atondt Ly 19410031 Real Estate Loans NEW YORK, August 30.—Where does | || WE WILL SELL $5,000 Fairfax Apt. 6!4s Gen. Mtg. Gold Coupon Bonds, Due 1943, at $800.00 per $1,000 Bond. MEHLMAN & COMPANY 1319 F St. N.W. Phone Main 8817. Consult Us First If you need money for your Real Estate financing let us have your application today. Prompt Service No Appraisal Fee The Commercial National Company Incorporated Paid Up Cash Capital, $900,000 ~—on improved property. Prevalling in- Febiite "o agollcations. "G00 service: ons. . Refinancing &II\' g THOS. E. JARRELL CO. 721 10th Strest NW. Matn 768 — FIRST & SECOND TRUST MONEY Complete Financing —of both FIRST and SECOND trusts on | —momes [ —APARTMENTS |l —BUSINESS PROPERTY No Appraisal Fee Prompt Service Real Estate Mortgage & Guaranty Corporation Main 1403 26 Jackeon Place EXPERIENCE in CONSTRUCTION LoANS Mortgage Loan Department SHANNON & LLUCHS, 1. 1435 K St..N.W. Phone: Main 2345 Over a Third of a Century’s Ezperience —We are given opportunity to put our long experience at work on the problems your property ownership presents, just so much the quicker will you benefit from our practical handling of the problems which only successful experience knows how to handle. B. F. SAUL CO. Main 2100 925 15th St. First Mortgage Funds TEHIS Company's large capital resoutees make available funds for first mortgage loans in virtually any amount—provided, of course, that the property to be mortgaged affords - satisfactory security. Without obligation on your part we shall be pleased to send you further information. In request- ing it, please specify the amount of the loan desired, and give a brief deseription and the approxi. mate valuation of the property. REALESTATE MORTGAGE & GUARANTY CoRPORATION Capital Resources § 3,400,000 26 JACKSON PLACE tionally = GUARANTEED J - Write For This Booklet Today 10s just off the presses. Brings you photo- aphic reproductions of the fine type of owner - occupied homes in mearby Maryland which are security for our 6% First Mortgage Notes. Also bll:l of these homes our unquali- fled guarantee of prin- cipal and interest. The booklet will be mailed promptly to any address upon request.