Evening Star Newspaper, September 10, 1928, Page 14

FINANCIALS | Buck & Company BROKERS Established 1916 Stocks Bonds Grain Cotton Write or call for weekly market tetter. i No obligations il BUCK AND COMPANY Evans Bldg. 1420 New York Ave. Franklin 7300 Moneyto Loan Sccured by first deed of trust on real estate. Prevailing Interest and commlission. PUBLIC QUESTIONS BEFOREBANKERS List of Speakers and Topics Announced for Coming Convention. Abitibl Power (4 Abitibi Po pf(6) Abr&Stras% pf Adv Rumley.... Adv Rumley pf. Ahumada Lead. Air Reductn(2). Ajax Rubber. Alaska Junea. .. Albany Papr(2) Allied Chem. ... Allis-Chalm (7). Amerada(2).... 4m Agricul Chm Am Agri Ch pf.. Am Bank N(13). Am Beet Sugar. Am Beet Sug pf. Am Bosch. g The program of the American Bank- | ers' Association annual convention at | Philadelphia, October 1 to 4, which is to be attended by a large delegation of Joseph 1. Weller {38, %ssh; & & Tt : | FIRST & SECOND TRUST MONEY Complete Financing —ot 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 First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. UNLIMITED FUNDS FOR LOANS On Improved Real Estate In Nearby Maryland, Virginia and the District of Columbia For Periods of 3,5 0r 10 Years Low Interest Rates and Charges BOSSZEPHELPS Founded 1907 1417 K St. Main 9300 Loan Correspondent John Hancock Mutual Life Insurance Co. of a Century’s "||!| T ‘wflllfl : Ezperience the Move Thousands of people are getting You'd like to see some of ready move. them moving into your apartment. Let our experi- ence in the rental field give your hopes a lift. Phone B. F. SAUL CO. Main 2100 925 15th St. __:\ LoNG EXPERIENCE in CONSTRUCTION LoANS Mortgage Loan Department SHANNON 1435 K St.,, N.W. Phone: Main 2345 Let These Experts Help You Invest LET the 20 bank directors, business men and profession- al men who are the directors of this Corporation help you choose safe and profitable investments. These men select and safeguard first mortgages behind Guar- 6% Securities and place on each security this Corpora- tion’s guarantee of orincipal and interest. Booklet about Guaranty Securities mailed upon request. REALESTATE MORTGAGE & GUARANTY CORPORATION Capital Resources $ 3,400,000 . 26 JACKSON PLACE local bankers, under the leadership of | Harry V. Haynes, president of the Farmers & Mechanics National Bank, was announced today by the association | to include questions of general public moment, such as the farmer problem, the presidential campaign and chang- ing business conditions, as well as tech- nical bank questions. Among the bank problems will be included discussions on credit, the spread of group banking, bank taxation and bank administration. Speakers Announced. The program as announced by F. N Shepherd, executive manager of the association, shows that among the lead- | ing speakers will be: Thomas R. Preston, | president American Bankers' Associa- { tion, president Hamilton National Bank, || Chattanooga, Tenn.: Edwin A. Alder- man, president University of Virginia, | Charlottesville, Va.; James A. Baciga- | lupi, president Bank ‘of Italy National Trust & Savings Association, San Fran- cisco; H. L. Russell, dean College of Agriculture, University of Wisconsin, | Madison, Wis.; Roy A. Young, governor Federal Reserve Board; L. T. McFadden, chairman committee on banking and | currency, House of Representatives; | Leonard P. Ayres, vice president Cleve- )land Trust Co. Cleveland, Ohio, and J. W. McIntosh, comptroller of the currency. Title Company Perfects Plans. | | The newly organized Capitol Title | | & Guarantee Co.. John Paul Earnest, | president, which is perfecting its or- ganization prior to opening formally | October 1, is already receiving applica- | tions for business, but is turning them | away, it was learned today. The ar- | rangements on which officers and more | than 100 employes are now busy, have | been in course of preparation for about { three and a half years, and it it ex- | pected that when the offices are for- { mally opened in the Chandler Building, 1425 to 1427 I street, on October 1, | the company will be prepared to give | “immediate service” on both title cer- | tificates and title insurance. Business Outlook. | . Confidence in the business outlook for the rest. of 1928 is expressed by the monthly review of business in the cur- rent issue of the American Bankers' Association Journal. “If any one still holds misgivings as to the outcome of American business in the year 1928, says the journal” an examination of the principal elements | visible at this time should inspire a great deal of confidence. “Industrial production is well main- tained, with automobiles and trucks making a record, steel operations ex- panding at firmer prices, building con- struction to date 8 per cent ahead of last year, metals and machinery active and | the only seriously unfavorable spots be- ing woolen and cotton : “Retail trade is becoming more active and merchants are reported to have thoroughly cleaned out hot-weather | goods and to be making Autumn and ‘Winter purchases with conservative optimism, the free placing of forward orders being particularly noteworthy. The election year bogie has so far had little effect on trade. Money Rates. “Money rates continue firm, but the supply of loanable funds is ample and statements of the reporting member banks show but minor changes, with total loans and investments temporarily stabilized at a level only 7 per cent above one year ago. Sentiment is fre- quently heard that present rates are higher than justified and that an even ing-down to correspond with interna- tional interest charges is to be expectsd. “Psofits for the half-year of 320 large manufacturing and merchandising cor- porations aggregate 5 per cent better than last year and the majority of the group show increases. “Crop forecasts were raised in the Au- gust estimates so that the proable wheat and corn crops will not be less but more than last year, while excellent fruit crops are exgecud. “Tone of the stock market is stronger. Considering the breadth of this market today and the relative quietness that has prevailed since May, the recent bid- By-Prod (12.75). ding up of selected issues is not sur- | prising. Calif Packg(4) “Bond markets are still quiet and new | Sallahan Zinc. underwritings the fewest in years, but | Calumet&Ar(6). steady accumlation of new capital is be- | Calu & Hecla(2) ginning to bring about a.recovery in | CanDryGAle(3) prices, and in time will have the further | San Pacifie(10). effects of reducing brokerage loans, low- | Annon Mills: - g&ggmgllfgrest rater and inviting new Cent Alloy(2). . Institute Board Meeting. Century R oty ‘The first meeting of the board of con- | Cerro de Pas(s). suls of the Washington Chapter, Ameri- | Certain-Teed (4) can Institute of Banking, will be held | Chandler-Clev.. tomorrow night at the Raleigh Hotel in | Chandler-Cl pt. the form of a dinner meeting to inau- | Ches & Ohio(10) gurate the season and lay plans for the | C& O Corpn@3). coming year. Richard A. Norris of the | Chl & Alton..... Lincoln " National Bank, who is chief | Ch1& Alton pf. consul, will preside. Harold D. Krafft | Chi Great West. wtg !:’e t"h% sgeinke‘r of theuo;vemngR ot dzfi’; “;’") obert V. Fleming, president of , National Bank, 1&;’ reurncd trom. yas | Chi Ml & SUP.. cation at Ocean City, N. J. : John M. Riordan, executive vice presi- | Chi & Nwn(4). . dent of the Bank of Commerce and |ChiPne Tool(6) Savings, returned to his desk today after | Ch! R1&Pac(6). his vacation trip to Canada. Chilas(2.40) Chile Co(23%)... D. C. Stock Exchange. Chrysler(3).... Trading on the Washington Stock | C! Exchange today was active, with Wash- | Cluett-Peab(5). Ington Gas bonds leading in volume. | Soca-Cola(é)... Gas 5s sold on a rising market of 103 | Gollins & Atkmn to 103% on sales of $50,000, while thz | £2} Suel & lron. 65 A of the same company were in de- | 0} G25 % PlS) mand at 103, 103! and 104%%, the last | 6o} G810 LA block going at 103%,. The stock sold | GO} CATooR(4). - at 97%. Com1nvTr(3.60) Mergenthaler picked up a bit. rising | Gom {o (o) to 100, after 36 shares had turned over | Com JAV (WA - ?t smfl"’..L graestguthr\armsk Dah;y “z;;f- Com Solvents(8) ferred start of e market af Y2 it s e Com Powr(13).. National Mortgage and Investment [ Conde Nast(2).. preferred changed hands in two_blocks | Congoleum-Nair of 100 shares each at 4%, and Peoples | ConsCgrs(t4) Drug Store preferred went at 113. Conley Tinfoll.. Capital Traction 5s were steady at | Consol Cers(7). 105 in a single transaction of $25,000. | ConCIEDrRL(6%) Consol Gas(5).. ConsolGas pf(5) ConRRCuba pt 6 Consol Textile. . Container A 1.20 Container B 60c. Cont Baking A. Cont Baking B. Cont Bak pf(8). Cont Can(5).... Cont Insur(6) Cont Mont (80¢) Corn Pro(t3%). Coty Inc(g5)... Crucible St (5). Cuba Cane Su pf Cuba Company.. Cuban Am S(1). Cudahy Pkg(4). Am Br Sh(j1.60) Am Brown Bov. Am Brown Bo pf Am Can(2)..... AmCar&Fdy(6) Am Chain pf(7). Am Chicle(3). .. Am Drugi80c).. Am Encau(2.40) Am Express(6). Am & For Pow. . Am&ForP pf(7 Am&For Pr 2d 7 Am Hide & L pf. Am Home Pr(3) Am Ice(t2%). . Am Internatl(2) | Am LaFr&Foam Am Linseed.... Am Locomot (8) am Loco pf(7). Am Mac&Fy (4). Am Metals(3) Am Piano. Am Piano p! AmP & L(11).. Am Po&L pf(6). Am Radiator(5) Am Ry Ex(6). Am Republic Am Saf Ra t4%. Am Seating(3).. Am Ship & Com. Am Smelting (8) Am S & R pf(7). Am Snuff(12) Am St Fdys Am Stl Fy pf(7) Am Sugar Am Sugar pf (7) Am Sumatra. ... Am Tel & Ca(5) Am Tel & Tel(9) Am Tobacco(8) . Am TobaccoB(8: Am Type pf(7). AmWW&EI(el). Am Woolen. Am Woolen pf Am Writ Pa ctfs Am Wr Pa pf cfs Am Zine. . Am Zine pf. Anaconda (4)... Archer-Dan(3). Archer Dan rts. . Armour, 111(A). Armour, [11(B). Armour, 11l pf(7) Arnold Con & Co Art Metal(1%). Asso Dry G(2% Ass0 0il(2)..... Atchison(10). Atl Coast L(10) Atl Gulf & WL.. Atl Gulf pf(3).. Atl Refining(4). Atlan Ref pf(7). Autostrap A(3). Balto & 0(6).. Bang & Ar(3%). BankofMan(16). Barker Bros(2). Beech Creek. Beacon Ofl.. Belding-Hemwy Best & Co(3)... Bethlehem Steel Beth Steel pf(7) Bloomingdale. .. Bon Ami A(4) Fisheries. Booth Fish 1st. Borden Milk(6). Briggs MfgFCo., British Empire. Broekwy Mot(4) Bklyn Edisn(8). Bklyn-Man(4).. Bklyn-Manpf(6) BrownShoe(2% ) Brunswick B(3) Brunswick Ter.. Bucyrus(1).... Bucyruscv(2%) Burns Bros(B). BurnsBrospf(7) Burroughs(t4). Bush Ter de(7). Butte Cop & Z.. Butte & Sup(2). Butterick Co. Byer&Co...... SILVER QUOTATIONS. NEW YORK, September 10 (#).—Bar silver, 57 Mexican dollars, 44. FIRST MORTGAGE LOANS —to refund existing mortgages or for new construction. Your financing problem, whether large or small, will command quick and helpful con- sideration. Cushman’s(§4). Cutir-Ham(3%) Cuyamel Fruit.., Davison Chem.. Del & Hud(9) Del L & W(1T). Den RG Wn pf. Detroit Ed(8).. Devoe&k C1A 13 and Commission B. F. SAUL CO. Main 2100——— 925 15th St. Diamond M(19). Dodge Bros A... Dome Mines(1). Dul SS & Atlan, THE _EVENING STAR, WASHINGTON, D. C. MONDAY, SEPTEMBER 10. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Sales. High. Low. Close. § 5 52% 8 891 110% 110% 45% 49 53 60 EE T 8% 9 73 190% 31 21% T3% Y% 108% 108% 97% 9% 105 105 B8Y 88% 1% 11% 604 69% 232% 232% 45% 457 108 108 9714 a3 109 6% 124% 124 99 99% 19 119 143 148 48 48 16% 16% 56 56 87% 8Tk 103% 1034 158 158 120 120 68% 69% 3 32% 824 4% A 245% 247 136 136 1684 168% 5 59 109% 4 81 106% 106'% 2 2% 21% 21% 1821 1823 170% 170% 172 172% 110 110% 60% 60% 16% 40% 58% 58% 170% 170% 114% 114% 1 14 64 11% 3014 46 114% 115% 2% 2% 800 800 30% 31 25 25 31% 32 106% 106% 40% 40% 17% 1T% 14% 14% 87% 87% 63 65% 117% 117% 38% 384 73 13 8 8 53% 534 168% 168% 48% 48% 5% 5l 63% 634 268 258 70 7% 91 9% 46% 46% 545% 54% 44% 44% 3T% 37% 45% _ 46% 33% 33% 106 106 161% 161% 106% 106% 9% 11% 7 % 19% 3 3 103% 104% 31% 3214 78 824 213% 213% AT% 47T% 350 356 42% 42% 9 9 804 81y 46 46 10% 125 224, 22% 188 189 68Y% 68% 10% 10% 16% 164 13% 13% 29% 29% 4N T4l 37 374 Chi Mil & StPpf 53% b54% 53 854 120 123 86 120% 128% 53% 57% 49 49% 104% 104% City StB5% stk 89% 89% 89 79% 172 173% 58 581 66% 65% 124 124% 107 107 96 96 33% 334 110 113% 1% 14 97 97 203 211% 85% B4k 63% 63% 265Y% 26% 3% 74 1 945 1 9215 98% 98% 26 20% 8% 82% 9% 9% 8 8 2% 2% 24% 25% 13 31 821 13 30% 5 5 82 82 123 124% 821 82l 13% 14% 84% 85 201 202 79 9% 18% 19 26 26% 18% 18% 4% 4% 200 200 58% 59 55% 59 57% 69% 197 197 133% 133% 57% 58% 206% 207% 53% e 163 163% 20% 20% 1010 3% 501 5l 88% BRY 110% 110% 454 4T 6% 8ly 415 24% 24% 196 196% 137% 137% 31% 31% 2U% 214 2% 2% 127 15 ] 55 55 106% 105% 97 97 105 105 881 881 1% 11% 694 694 232 232'¢ 43% 43% 107% 107% 96 45% 6% 42% 42% 106% 107 p 98Y 118% 118% 148 148 48 48 16% 16% 56 56 87 87 103% 103% 156% 1564 120 120 67% 67% U 2% 824 33 A% 4% 244 244 136 136 168% T T 106'; 106 0% 0% 21 21% 181 181% 168 168 169% 169% 110 60 16% 16% 5% 51% 168 168 114% 114% 14 14 6% 1% 11% 28 29 46 46 113 113 72 72 800 800 30% 31 25 25 30% 31 106% 106% 40% 40% 1% 17% 14% 14% 85% 85k 63 63% A 58% 384 2% 2% 8 8 53% 534 167 167% 6% 47 5% 5% 6214 62% 268 268 70 1% 91 a1 46% 46% 52 53% 44% 44y 87% 37% 454 45% 33 33 106 106 158 158 106% 106% 8% 9 1% 11% % 1% 2% 2% 103% 104 31% 382 7% 824 211% 211% 474 47% 346 3494 41% 4% Cent Alloy pf(7) 110% 110% 110% 110% 9 9 80 80 45% 46 10% 10% 224 22% 188 188 684 68% 10% 10% 16% 16% 13% 13% 28% 29 % 4% 37T 3T% 53% 854 8ol 120 120% 122 122 53% 56% 48l 481 102 1024 89 9% 80% 172 57 64% 122 107 5% 64% 122 107 95 95 33 33y 108% 113% 1% 14% 965 96% 203 206 814 85% 63% 24% 2% 1 631 24% 2% 1 92 121% 82 13% 13% 17214 { L Dunhiil Int(4).. Dupont(+13.50) Du Pont deb(6). Dugq Lt 1st(5).. Hastman(18)... IZaton Axle(2).. Eisenlohr&Rro. Eitingon (21). | Eitingn pf(612) 1Elec Auto L(4). Electric Boat... ElecPow&Lt(1) Elec P&Lt pf(7) EIPo&Lt f pd(7) Elec Stor Bat(5) End-John(5)... Engineers Pub S Eng Pu S pf(5). Equit Bldg (2).. Erie R R. Erie st pt. Erie 2d pf Eureka V . Exchange(1%). Fairbanks Co Kairbanks($) FedLight(h1.40) Fed Light pf(6) Fed MotT(f80c) Fidelity-Phoenx Fifth Ave(64c). First NatS(11%) Fisk Rubber.. .. Fleischmann(3) Foundation Co.. Fox Film A(4).. Freeport (16%). Gabriel Snub A. Gardner Motor. . Gen Am Tnk(4) Gen Asphalt. ... Gen Cable. . . Gen Cable A(4). Gen Cigars(4).. Gen Elec(15)... GenElec sp(60c) Gen GasA (01%) Gen Ice Crm(3). Gen Motors(17) Gen Mot pf(7).. Gen Outdr Ad(4) GenOutdrAd(2). Gen Ry SIg(5). Gen Refrac(3). Gillette Raz(5) . Gimbel Bros. Gimbl Br pf( Glidden Co. ... Glidden(rights) Glidden pr pf(7) Gold Dust(3) Goodrich(4).... Goodyear Tire. . Goodyr 1st pf(7) Gotham($2%).. Gotham n($2%) Graham-Palge. . Grhm-Paige cfs Granby Min(4). Grand Stores(1) Grand Unlon.... Grand Un pf (3) Grt North pf(5) Grt Nor O(1%). Gr't Wn Sug 2.80 Grt Wn Su pf Greene Cana(4). Guan Sug pf(8). Gulf Mo & Nor. . Gulf States Stl. Guif Ba 1st(7). Hacknsk W (1) Hack W pf(1%) HamiltnWpf (6) Hanna 1st pf... Hartmn B(1.20) Helme G W(5).. Hershey pf(4) 4. Hershey prpf(6) Houshold(14).. Houston Oil.... Howe Sound(4). Hud Man(2%). Hudson Mot (5) Hupp Mot (£2).. Illinots Cen(7). Indep O11(1).... Indian Mot(1%) Indian Mot pf(7) Indian Refining. Indian Refg ctfs Ingersoll R(15). Inland S(k16%). Inspiration Cop. InterboroRapTr InterconRubber Internat Agri. .. Int Ag Ch pf (7). Int Bus Ma(5).. Int Cement(4). . Int Com Eng(2). Int Harv(j6)... Int Mtch pf 3.20 Int Mer Marine. Int Mer Mar pf. Int Nickel (3) Int Nickel (rts). Int Paper(240). IntPap cfs(2.40) Int Paper pf(7). In Pap pf cfs(7) Int Tel & Tel(6) Intertype (1%) Island Creek(4). Jewel Tea(4)... Johns-Manv (3). Jones Tea...... Jordan Motor. .. Kan City South. Kayser J(5).... Keith-Albee. ... Keith-Al pf(7). Kelly-Spring... Kels Hayes(2).. Kelvinator Corp Kennecott (6).. Kinney (G R) Kinney pf(8)... Kolster Radio. . Kraft(gl%).... Kresge(11.60). . Kresge Dept S. . Kress (S H)(1). Kroger Gro(c1). Lago 01, Lambert C ) Lee Tire & Rub. Lehn & Fink(3). Life Sav(1.60).. Lig Myers(15).. Lig & Myrs B 15 Lima Locomtve. Liq Carb(3.60). Loew's(13)..... Loew's p(6%) . Loft Loose-W(1.60). Lorillard Co. ... Lorillard pf(7) Louisfana 011 LouisGasA (1. ouls & Nash (7) Ludlum St1(2).. McCall Corp(3). McCrory A(2).. McCrory B(2).. McKeespt Tin P} Mack Truck(6). Macy (R H) (c5) Mad Sq Gar (2). Magma Cop(3). Mallison & Co. Man El Sup(5). Man Elev gtd'(7) Man El m2g(d5) Man Shirt(2)... Maracaibo Oil. . Market St prior. Marland Oil.... Mar-Rock t2%.. Martin-Parry... Mathieson(6) May Dept S(4). Maytag(13).... Maytag pf (3).. Miami Cop(1).. Mid-Continent. Middle States, Mid States ctfs.. 8314 8374 201 201 T8% T8% 18 181 25'% 25% 18% 184 3% 3% Curtiss Aero(1). 139% 143% 138, 139% 200 200 58% 59 b55% 69 57% 68Y% Deere&Co pf(7). 124% 124% 124% 124 197 199 132% 132% 577 58% 206% 206% 52 52 Devoe&R 1st(7) 114% 11415 114% 1143 163 1633 20% 20% ». .9 Drug Inc(4). ... 110% 112% 110% 112 3)6‘ 3% 3% Milwaukee EI(6) Mo Kan & Tex.. Mo K&Tex pf(7) Missour! Pacific Missour! Pac pt. Mohawk C 62%¢ Montgmry W (5 Moon Motor. ... Mother Lo(30c). Motion Pic Corp Motor Meter A.. Motor Prod (2). Motor Whi(2).. Mullins Mfg. Nat Bellas Hess Natl Bisc(16%). Nat Cash R A(3) Nat Dairy(3)... Nat Dept Stores Nat D St 1st(7), Open. High. Low. 58 58 58 0% 68% T8 22 106% 119% 31% 121% 19% 5874 314 Maytag 1st pf(6) . Midland pf(t12) 2 176% 85% 9474 26 9 9. 26 9 Nat Enamel & S Nat Lead(5). ... Nat Pow&Lt(1) Nat Radiator. ... Nat Ry Mex 2d. Nat Supply(16). Nat Surety(10).. Open. High. al% 42 65 Nat Tea(4)..... Nevada C(1%). N Y Air Br(3).. N Y Central(8). C & StL(6). Ont& Westn Railways pf N ¥ Stm ptA(7) Norf & Wn(110) NorAm b10% st} North Am pf(3) NorAm Ed pf(7) North Pac (5).. Nor Pac cfs(5) Norwalk Tire. . Norwalk Tire pf Nunnally Co.... 01l Well Supply. NY NY NY NY NY NY | Omnibus pf(8) 5T 324 9274 46 " 1054 T34 o1 | Orpheum pf(8). Ous Steel Outlet Co(4 Owens Bot(c Pacific Gas(2).. Pacific Light (3) Pac Oil Stubs. .. Packard Mo(+4). Pac Tel & T(7). Pan-Am Petrolm Pan-Amer Pet B Pan-Am Wn B.. Panhandle..... Parmt-Fm(38).. Park & Til (13). Park Utah(80¢c). Pathe Ex. . Pathe Ex(A) Patino M(2.92). Peerless Motor. Penick & Ford. . Penick&F pf(7 Penn C&Coke. Penn Dixie Cmt. Penn R R (3%). People’s Gas(8). Peoria & East. .. Pere Marq(i8).. Phila & R C& 1.. Phil Morris(1).. PhillipsPet(1%) Pierce-Arrow. .. Pierce-Arrow pf Pierce-Ar pr (n) Pierce Oil. Pillsbry pf(63) Pitts Coal pf.... Pitts Term Coal Pitts Ter pf(6). PortoRicoTobB. Postal T&C pf 7. Postum (3)..... Pressed Stl Car. Pr Stl Car pf(7) Produ & Refinrs. Pub Serv NJ (2) Pub Serv pf(6). Pub SE&G pt(6) Puliman Co(4).. Punta Aleg Sug. Pure 011 (50¢). . Pure Oil pf(8).. Purity Bak(3).. Purity Ba pf(6). Real Silk Hos... Remingtn-Rand Reo Mot(11.20). Rep 1 & S(4).... Reynolds Spngs. ReynldsTobB(5) Richfield Oi1(2). Rossia Ins(5)... Royal D(a3.222) St Jos Lead(13). StL & SanF(18). StL&SF 2d pd (6) StL&Southwest. Savage Arms.2) Schulte (83%).. Seab Air Lin Seab Alr L p! Seagrave(el. Sears Roe(1214) Seneca Copper. . Shattuck FG(2). Shell Un(1.40).. Shubert The(5). Simmons Co(3). South Dairfes A. South Dairies B. South Pac(6). Std Com Tob(3). SWGE&E (3%). Std G & E pt(4). Std Milling(5) Std O Cal(235) StdOfINJ (1% % | StdOINY (1.60) . Std Plate Glass. StdSanPro(1.68) Stanley Co..... Stewart-War(6) Studebaker (5).. Studebak pf(7). Strom Car(2)... Submarine Boat. Sun Oil(n1). Tenn Copper(1). Texas Corpn(3). Texas Gulf Sul (4 Texas & Pac(5). Tex Ld Tr(new) Thatcher Mfg. The Fair(2.40). Third Avenue. . Thomp J R(3.60) Tidewater ASOll Tid WASO1Ipf(6) Tidewater Ofl 80 Tide W Oil pf(5) Timken(16).... Tobac Prod(m). Tobac Prod A(7) Transcont Oil. .. Transue & W (1) Trico Prod(2%) Twin City R(4). Udwd El #(4).. Un Bag&Paper. . Union Carb(6) Un 01l Cal(2)... Union Pac(10).. Union Tank(5). Utd Biscuit 1.60. Utd Cigar St(1). Utd Fruit(15%) Utd Paperboard. USCIPpL(T). U S Distributing U S Distribpf(7} Alcohol(5) Leather. Realty(4) Rubber..... U S Rub 1st pf.. U S Smelt (3%). U S Steel(7). U S Steel pf(7). Uni Leaf Tob(3) Uni Pic 1st pf(8) Univ Pipe & Rad Utll P&L A(e2). vanadium(14) Van Raalte. Vick Chem Victor Talkg(4 Vietor pr pf(7). Va-Caro Chem. . va-Car Ch pf(3) va-Car Ch pf(7) Vivaudou CO. ..o Vule Det pf(7) .. Wabash. .. Waldorf(1%)... Walworth(1.20. Ward C1 A(8)... ward Baking B. Warner Bros Pie Warner PicA... Warner-Qu(2).. Warren Bros(4) Warren1st pf(3) Warren F&Pipe. ‘Web & Hell, u u U u g u 100% 98% 96% 5% 43 8 25% 100 S Hoffman(4). 3 Low. 4 2 107% 5% 46% 16 9614 964 201 a2 80t 1928.- MAIL ORDER STOCK | 1S MARKET LEADER Montgomery Ward Hits New High as Speculation for Rise Continues. Close. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 1\0.—511\“- iing rapidly about from one individual group to another and from one favorite to another, speculation for the rise kent up on an enormous scale in today's stock market. The leader was Montgomery Ward While General Motors and United | States Steel were being allowed to rest, Montgomery Ward was whirled up to unprecedented heights. Closing at 2401 on Saturday, it ran up to 252 in the first hour today, which was not only a new high for all time, but 10 points above the previous high. The higher the price went the more confident traders seemed to feel. Nickel Stock Gains. Another specialty on which buying attention was concentrated was Inter- national Nickel. It had closed at 124 and before noon it was selling at 130, likewise a record high for all time. Speculators who had been trying to pick the “top” helped along the rise as they endeavored to extricate themselves from their position. It was pufnud out that General Elec- tric had not participated in the recent advance, and so attempts were made to bring this high-grade stock into line with considerable success. Just under 170 the stock was up between 3 and 4 points. Commercial Solvents ran up easily from 6 to 7 points on a com- 3% | paratively small turnover. ‘Then the amusement stocks, under the lead of Fox Film A, took their turn. Fox Film, above 117, at an advance of 4 points, was at a new high, and both of the Warner Brothers' issues set new records. Loew, Shubert and others in the group were higher at one time or another. Among miscellaneous indus- trials Lambert and California Packing sold above anything seen before this ear. Yeihe motor stocks were more frreg- ular. Nash was in urgent demand, up nearly 3 points. Stewart Warner did | better, but General Motors fluctuated uncertainly, first up and then down. Copper stocks were fairly consistent. Magma made a new high for the year, Anaconda was strong, Greene Cananea gained more than 3 points and Cerro de Pasco and Chile were, higher. 86'3 31 69 29 102 Steel Group. The feature of the steels was Re- 2 public. Up over 4 points at 76, it was 24 |at the best of the year. Inland Steel 68% | went to a new 1928 high. For a time Bethlehem was actively bought. Mean- 108 844 25% 237 112% 120% 149 207% 103% 37% while U. S. Steel ranged a point or so above the previous close. Little attention was pail to the rails. Erie and Missouri Pacific stocks made the best showing, with Missouri Pacific at a new high, above 75. This neglect of the rails was widely commented upon. Money renewed at 7%, per cent. The bid price for time funds was raised to 6% per cent for all dates 'and very little was on offer. ‘The market continued active in the afternoon, but without making much progress as_a whole. Montgomery- Ward held firmly at the top and va- rious lower-priced _specialties were taken up, including Davison Chemical and Childs Co. Stewart Warner in- creased its forenoon gain. Studebaker assumed Jeadership of the independ- ent motors and Easton Axle & Spring at 58 was up 2 points and at a new top. U. S. Steel Sags. 15| ., On the other hand, United States Steel sagged, paying no attention to the increase in unfilled tonnage, the fig- ures on which were given out at noon. The increase of 53,116 tons had ap- parently been discounted. General Motors was lower on the day at this stage of the proceedings and many other stocks receded under profit taking. There was no weakness, however, and no sign that the public confidence had been impaired. NEW YORK BANK CLEARINGS. NEW YORK, September 10 (Special). —New York bank clearings, $521,000,- 000; New York bank balances, $112,000,- 000; New York Federal Reserve balance, $106,000,000. FOREIGN EXCHANGE. (Quotations furnished by W. 8. Hibbs & Co.) Nominal gold Selling checks value (or par).” _today. London, poun 4.8665 8 lo. crown. . Stockholm, e TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) Rate—Maturity Bid, “Offer. s Dec. 13, 192 99 22-33 2932 99 15-32 99 2432 8 97 30-32 9730-32 FEDERAL LAND BANK BONDS. Special Dispatch to The Star. NEW YORK, Scptember 10.— 97 22-32 Bank 4s May 1958-38 Bank 4s Nov. 195 May 19: 4'is July 1956 d Bank 4)>s May 19420p32. Bank 4is Jan. 19430p33. d Bank 4'28 J.&J. 19530033 Bank 4125 J.&J. 19550p3: Bank 4125 Jan. 1956-3 d Bank 435 J.&J. 19 . 19410p31. Bank 5s May 19410p31. West DairyA(4) West Dairy B... West Maryland. West Pacific pf. West Union(8). Westhse A B(2) Westinghse(4). Westhse 1st(4). W Penn El pf (6) W Penn El pf(1) West P Po pf(7) Weston Electric 41% | White Eagle(2) 74 | White Motors(1 49% | White Rock(2) . 154% | White Sew Mach 141 | White SM pf(4) 76 | Willys-Ov(1.20) 964 | Willys-Ovd pt 7. 21 | Wilson & Co.... 2% | Wilson Co pf A. 0 | Wilson & Co pf. Woolworth (5).. 31 | Worthn Pump. . 111% | Wright Aero(2) 1067 | Wrigley (1536).. 15 | Yellow Truck. .. 53' | Youngstn Sh(5). 954 15% 90 81% | 22% 18% 95% 150 464 105% 109 100% 62% 2 36% 36% 9 9% 923 Hourly Sales on N. ¥. Market. 1lam. 743,400 12 noonl.478,200 1pm. 2115400 2 p.m. 2,800,000 Dividend rates as given in the above table are the annual i 92% 19 in 127% | a Fatd thi . "o Bay- 131 in stock, ¢ Plus 5 fock 4 Pay. 40% e Pavable in _cash or & Plus 8oz 179 V Plus 207 54 1974 6% 1%% Lo stoc Suitable for Boarding School, Sanitarium or Hotel oirls. with’ small_first payment; FINANCIAL. Modern House in the Northeast Section 65 sleeping rooms—15 baths—dining room —kitchen—and auditorium with stage—parlors —office rooms—steam heat—gas and elec- tricity—4 acres. For a mumber of vears a_fashionable boarding school for sale at a very dow price and on unusually low terms il et or leased at an attractive rental. We tnvite your inspection. Real Estate Loans Insurance —phone REALTOR Main 5027 023 New York, Ave. and 1237 Wisconsin Ave. Equitable Co-Operative Building Ass'n JOHN Assets JOY EDSON, President Organized 1879 oo $5,449,244.49 Surplus & Profits WALTER S. PRATT, Jr., Secretary 48th YEAR COMPLETED $1,578,070.05 Subscriptions for the 95th Issue of Stock Being Received IT’S BUT WHAT YOU SAVE table Come in and have us explain our NOT WHAT YOU MAKE THAT COUNTS Open an account at the Equi- and Save Systematically. Shave plan of savings. 915 F St. N.W. APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the District of Columbia and adjacent Suburbs of Montgomery and Prince Georges Counties, Md. 5%% INTEREST Apply to ‘H. L. RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY OF AMERICA 1001 15th Street N.W. Main 8100 RO $2.50 {15 F Metropolitan 114 Years Old 15th St. opp. U. S. Treasury Capital, Surplus & Undivided Profits, Over $2,000,000.00 Working for Washington {IThis bank has been a vital factor in Washington’s busi- ness 1814. expansion ever since {[Your business needs “Metro- 114 Years Old Bank 39, Paid on Savings politan” service to back your own efforts to best advan- tage. Your account is invited. 441,000,000,000,000,000,000 CUBIC inch of air at sea level pressure contains a good many Molecules 44 molecules, in fact as many as represented by the figures at the head of this advertisement. But you have not the time to be bothered by a few quintillion molecules, or by_attempf;mg- to estimate the number in a given amount of air. Nor should you be bothered in attempt- ing to figure out how much you can make by speculating in the stock market. Such figures are useless as a basis of estimating your income, for you can never be sure whether they will represent a profit or a loss. Those investors who have purchased First Mortgage Notes through Swart- zell, Rheem and Hensey Company need never be bothered about anything. These notes are safe; the interest check is mailed to you automatically so that you will receive it on the day it is due; and your principal is avail- able intact at stated periods. You may well profit by this peace of mind. Swartzell, Rheem § Hensey Co, NMortgage Bankers 727151k’ Street, N.W,, Washington.DC. 59 Years Without Loss to dn Investor . i e s | Expertenced Advertisers Prefer The Star