Evening Star Newspaper, September 13, 1928, Page 15

. v fa} FINANCIAL. I ON NEW YORK BONDS STOCK EXCHANGEI BONDS REEULAR N QUETNARSET i Semi-Speculative Issues Af- fected by Profit Taking. Foreign List Firm. BY CHARLES F. SPEARE. Special Dispatch to The Star. i NEW YORK, September 13—Bonds | were dull today and there were only a few price changes that attracted at- tention. These were in the semi-speculative | issues, which were more irregular than they have been, and, like stocks, showed the cffect of profit-taking following a long and substantial advance. Anacon- da Copper 7s declined 2 points with further sales for later deliveries. Pub- lic Service of New Jersey 414s dropped 11 points to 148 early in the session, and afterward sold at a net gain. The local tractions were more active than they have been and quite strong. Third Avenue adjustment 5s rose over | 2 points and New York Railway ad- justments 6s a point. All of the Inter- borough bonds and Brooklyn Manhat- tan Trans't 6s exhibted moderate strength. It is expected that a decision in the Interboro rate ease will be hand- ed down early in the Fall. Among the miscellaneous group of bonds that had more than the average fluctuations were Cuba Cane Sugar 8s, at a decline of a point; United States Rubber 5s, off %: St. Paul General 5s, Chicago Great Western 4s and Seaboard Air Line 6s, which lost 12, 3, and 11, points, respectively. The allotments on the new Treas- ury 4l5s were regarded as quite gen- erous, amounting to as high as 80 per cent on subscriptions up to $100,000, which represents about the average de- mand from the banks. United States Government issues showed little change in price today. Lib3%s... Lib 1st4%s Lib 3d 47%s. Lib 4th 4% s US3S%H&T. US4%si2. Argentine 6s. ... Argentine 63 Ju & Argentine 6S A.. Argenting Australia 4%8 6 | Australia 53195 Australia 5s 195 Austria Belgium 75 1955 Belgilum 7s 1956 Beiglum 7% Belzium 8s. .. Botivia ¥s. Bordeaux 65 Bruzil 6%s 1 Brazil 6158 1927 Brasi] 7s Brazil 8s. . Bremen State 7s. Canada 5%s 1929 Chile 7s 1943. . Chinese Gov Ry b Copenhagen 4% Covenhagen bs ct, Czecho 8s 1951. Denmark 6s. Duteh East 1 63 6 El Salvador 8s 48 Ger Gen ElecTs. Haitl 6s... Hungary 1 Irish Free State ltaly 7s... ftalian Pub S The market for high-grade rails and public utilities was dead. So was tha for foreign issues, but in both groups prices held firm and so far have made only a moderate concession to the high rates for money. The day’s new offerings amounted to about $34,000,000, a"afl':ykltl mlr‘:y :thesrll‘:df 65577 . $30,000,000 was represen! w0 pub- | New So Wales §7s. Rochester Cen: lic utility loans. The tral Power issue of 5 per cent gold debentures was one of the it cor- poration offerings in some . The “set up” of the bonds was favorably commented on among dealers. Washington Stock Exchange SALES. Potomac Electric Cons. 55—$2,000 10215 Washington Gas 6s “A"—$1,500 104 Washington Rwy. & Elec. 45—$500 9315. Wardman Park Hotel 515s—$1,000 Capital Traction Co.—10 at 108!, 10 at 1081, 2 at 10822, 10 at 108Y;, 10 at 108lg, 1 at 10814, 5 at 10815, 10 at 108, 10 at 108, 10 at 10! at 10815, 10 at 108%2, 10 at 1087, 10 at 1083%. Chestnut Farms Dairy pfd.—10 at 107.] Washington Gas Light—10 at 99. Barber & Ross com.—25 at 24 25! at 24. Columbia Sand & Gravel pfd.—20 at 91. National Mtge. & Inv. pfd.—100 at 475. Mergenthaler Linotype—10 at 100%, 10 at 101, 10 at 100%, 10 at 101. ‘Washington Cons. Title—5 at 50. ‘Washington Medical Bldg.—7 at 135. AFTER CALL. Potomac Electric 5%2% pfd.—1 at 108, 5 at 1084 sapeake at at at at & Potomac Tel. 55—$3,000 51s% pfd—5 at “A"—$1,000 at 1043, ? Capital Traction 55—$500 at 100%. Sanitary Grocery Co. pfd.—1 at 130, Potomac Electric Cons. 55—8$3,000 at 102 Money—Call loans, 5% and 6%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel & Telga. ‘Amer. Tel. ‘& Telea. Am Tel & Tel. ctl Anacostia & Pot. R. & Pot. 4 4% tr. 5 guar. 5: Washington Gas 5 Gas 6s. series 4. Gas 6s. series . Rwy. & Elec. 4s : Yash. Rwy. & Elec. gen. 5. MISCELLANEOUS. Borber & Ross. Inc.. 612s.. Chesinut_ Parms Dairy 6 Club 5'4s. Wash. Cons. Title 6s. Wardman Perk Hotel “Yas. STGCKS. PUBLIC UTILITY. American Tel. & Teli Capital Traction.... Wash. Rwy. & Wash. Rwy. & NATIONAL BANK. . National Capital Bank. Columbia Commerci District Farmers & Federal-American Liberty Lincoln National Rigks 2 Sccond 2 Lo Natlonal Bank of Washington:. 308 TRUST COMPANY American Security & Trust Co.. Continental Trust.. ‘ o Nercharts' Bank. National Bavings Union Trust ... Washington Loa; SAVINGS 1 Metropolitan. rust BANK. Columbia Title... . Real Estate Title..." . Title & Inv. Co. of Md’ cos Wash. Cons. Title pfd. . MISCELLANEOUS, Rarber & Ross. Inc., com. Chevy Chase Dairy ofd . Chestnut Farms Dairy pfd. Commercial Natl Co. pfd . Paper Mfg pfd..... . District Col. Sand & Gravel pfd. Federal Btorige pid. ... Pederal-American Co.>com rederal-American DiG. anston Monctype..... Merch Zrans & Storage lerch Trans & Stor pfd ergenthaler Linotype. '] Mtge & Inv. prd rug Stores pid. e . Wath sfech Wash Medical Bldg. Corp Woodward & Lothrop pfd. . - {videna. 125¢ exua Telegraph Company Income, NEW YORK, September 13 (®) July operating income of the Western Union Telegraph Co. was $1,142,315, Marseille 6s. Mexico 4s 04 asntd. Milan 6%s. . So Wales 58: Nord 6% Norway bs Norway 54s.. Norway 65 1943, Norway 65 1944 Orient Dev deb Paris-Ly-Med 6s Paris-Ly-Med 7s. Peru 63 67 w L Rome 64s.... San Paulo City 8s. Sao Paulo 8s 1936. Sao Paulo 1960 Sazon (PW) Ts. Seine 78 42, Serbs Crot Slo 8s. Shinyetsu 6%s Hu :sons 68, Sweden 5%s. Swiss 5%s 1946. UtdKingdm 5%s 3 Uruguay 8s. Yokohama 6s w MISCELLANEOUS. AmAgriChem 7%s. Am Smit&R1st5s 2 101% 101k 101% A A m Sugar Ref 6s. Am Water Wks Am Writ Paper 6: Anaconda 1st i Anaconda cv db 7s Armour Del 5% Atlantic Refin 6s Barnsdall 6 Bell Tel Pa 53 B. Bell Tel Pa5sC. Bethlehm Sti pm b: Beth Steel rf b Beth Steel 518 63 Bklyn Edison § Bkiyn Union § Certain-Td5 % Chile Copper b Fisk Rubber ¥s. .. Goodyear 5s rets Hoe & Co 625 Humble VIl 55 Humble O & R 5% [linots Steel 4%, Intl Match 5s 47 Int Paper bs 47, Inter Paper 6s. Int Tel&Teleg 4% J Kayser & Co 5%! Kan G & E 63 62 Kelly-Spring 8s. Laclede G 5%s 52 Lorillard 5s. ... Loulsv G & E 5s 5. Mid-Con 645 40 Midvale Steel b3 Mont Power 6s 43 New Kngland Vel N Y Edison bs 44. N Y Tel 4%s.. N Y Tel 6s4l.... N Y Tel 6s 4Y. Nor States Pow 6 Pac T & T 1st bs. People’s Gas 5s. Phila Co 6s 67 w Pierce-Arrow 8s. Punta Alegre 7s. Sinclarr O1l 6s Sinclair U1l 6 Stnclatr O1l 7s. Sin Pipe Line 6s. South Bell Tel bs. TennElecPow 63 Warner Sug 7s 41 West Elec 6 Westinghouse will! Yngstn S&T s w neainst $1,077.136 in July, 1927, and for foven. ;mnt;u this yvear $8,471,206, ageinst $8.455,050 & year afQ RA| At&SF cvt 45 05, Atchison adJ 4s, | Argentine 65 Octs9 Canada 5s 1931.... Canada 58 1952. ... Danish Munie 8s B, Utd Steam Copen 63 Andes Copper 7s. . Armour&Co 4 839 940. Bethlehem Steel 6s Col Gas&El deb bs. 28 99% 99% Cen Coal Md 1st bs Con Gas N Y 6%s. Consumers Pow 68, LZast Cuba Sug T3s Gen Mot Ac Cor 6s. | Goodrich 6;s. int Mer Marine 6s. Kan City P & L bs. Liggett & Myers 7s ManatiSug sf 7%s. Mont Power deb bs Mor's&Co 1st 435s. Nor Ohio Tr & L 6s Nor States Pow 6s. Pacitic Gas & El b: Pan-Amer Pete 6s. Paramount 6s 1947 Pathe xchange 7s Phila&ReadC&! b Philips Petro 6%s Por KRic Am Tob 63 Postal Tel & Chlas 15 95 Public Service 4 %48 334 149% 145 RemingtonAr 6s 32 Rem Knd bls war. 13 Stnclatr Crude 6%s So Por Rico Sug T Southwest Bell 6s. Stand Ol N J 68 46 United Drug 53 63. Utah Pow & Lt bs Vertientes Sug 7s -Ov 6%s 33 Wiison & Co 1st 6: Close. 98 21 10023 10017 100 20 1001 9931 1001 1011 10028 10029 4 99 99 99 11114 1118 11114 FOREIGN. 911 99% 991y 9954 991 884 97 9Ny 99% 99% 99% 99% 884, 9T% 97 18 97w 97 97 1 102% 102% 102 3 100% 100% 100% 10 105% 105% 106% 36 107% 107% 1074 10 105% 106% 105% 8 1156 114% 115 2 110% 110% 110% 6 106% 1053% 105% 4 1004 100% 100'x 47 96 95% 96% 8 96 951 96T 6 100% 100 7109 ) 46 101% 101 6 100% 100% 100% 2 105 105 105 23 100% 100% 100% 4 10164 10135 101% 9. 10 991 Colombia 6s Jan 6 109 2 110% 110% 110% 8 104% 104% 104% 5 103% 103% 103% 3 110% 110 110 3 9% 9 9% 12 101 100% 100% 54 107% 106% 106% 1 114% 114% 114% 1 96% 95% 95% 26 106% 106% 106% 1 99% uu% 99% 11 102% 1023 9 99 99Y, 99% 3102 101% 102 1 95% 95% 95% 24 9T 9TH 9Th 3 9% 9274 92% 101% 102 995 99% 00 100 2 49 9 5 100% 7 100% 1 $ 26 25 25 7 92% 92% 92% 4 104% 104% 104% 2 94 6 102% 101% 101% 14 97 97 97 3 100% 100% 100% 2 102% 102% 102% 16 1034 102% 103% 1100 100 100 21 99% 99% 99% 7 104 104 104 34 91 90% 90% 11 103 102% 103 156 105% 106% 105% 4 Baw 84 84 14 89 89 3 100 99% 100 6 96 95} 9B% 13 93y 93 93 1 115% 116% 115% 3 106% 106% 106% 7107 107 107 4 100% 100% 100% 1106 105 105 4 8% 98 984 190 92 92 1 99% 99y 99y 5 103% 1031 103'% 2104 104 104 1 98% 98% 98 2 9% 9% T9% 9 91 90% 90% Utd Kingm 5%s29. 31 118% 118% 118% 7 20 104 103% 104 1 97% 97% 9T% 1109 109 109 9y 96 95% 95% 3105 105 105 2 104% 104% 104% . 26 99% 99 99 - 53 105 104% 104% 105 105 104% 104% . 27 107 106% 107 b5 99% 99% 99% . 97 136 134% 135% 268 137% 136% 136% 17 82 91% 92 53 93% 93% 98% 4 101% 101 101 302 106% 105% 106% 3 106 105% 106 2 108 108 108 11 100 99% 99% 3102 102 102 12 102% 102% 102% 19 104% 104% 10414 104% 105 292 99Y, 8% 105% 105% 1 103% 103% 108% 8% 78 139 98% 93 10 98 98 2 95 95 6 112% 112 27 102% 102% 102% 3 107% 107% 10’ 7 91 1 78 78y . 22 106 6 101% 101 1 98 98 Intl Cement 5s 48. 98% 98 16 103% 103 3 98 98 13 103% 103 103 82 95 94% 94%u 18 109% 109% 109% 10 103% 103% 103% 3 104% 104% 104% 3 108 108 108 2 104% 104% 104% 1 120% 120% 120% 4 90 89% B9 4 102% 102% 102% 1 103% 103% 103% 2105 105 105 8 995 49K 991 3 103% 103% 103% T 99% 993 991, 10 87Y B 8T 1106 106 106 4104 104 104 2100 100 100 15 107 106% 106% # 110% 110 110 99% 991 9y 3 102% 101 10~ 3 101% 101 101 105 2 105% 105 15 101% 101% 101% 6 1025 102% 1025 4 1026 10218 10214 14 100% 99% 100k 40 80 78 78 5 103% 103% 103% 39 98% 98k 98l 3 94 94% 94% 16 92% 92 92w 15 1073 107% 107% L 99% 99 99% 94% 947y 148% 98 98 3 99 98 99 95 94 94k 5 08W ORI 98 B 99% 994 991 18 102 101% 102 6 98 9Ty 98 7 9% 94 9 1 1020 102% 10 1 108% 10842 108% 1 108% L03% 10: 10 102% 102% 102% 12 106% 106% 106% 29 97 96% 97 19 89% 89% 9% 3 101% 101% 101% 46 107% 108% 1074 6100 100 100 2 98% 98% 98% 2 105% 105% 105% 104% 03 103 4 102% 102% 102% 3 101% 101 101 1. 36 190% 100 100 ILROAD. T o 1 g89 98Y% 103 98 o 5 i 7 98 [ 90 89 90 89 e, i Int & G Nor 1st 6s. THE EVENING Received by Private Wire Direct to The Star Office Atchison gen 4s Atl & Dan 2d 4s 48. Atlantic C L 1st 4s. AtlanC L 4%s64.. 94 100 9204 981 104'% 102 1 104% 1041 3102 102 1102 102% 1 Brdway & 7th Av b Brooklyn Elec 6% I 93 99 97% 97% 86% 86 91 90 1024 102% 985, 98Y% Chesa Corp bs w Ches & O cv 4 %3 Ches & O gn ¢ %s Chi & Alton 3%s. . Chi B&Q zen 45 53. CB&Q4%877B.. 3 JCB&QIIdivis.. 87 Chi& 1 gn fs 51, 11 Chi Gt West 4s 59 3 CM&StPgn8).. ChiMIISP&Puchs 15 Chi NW 4%s 2037. Chi& NW 61zs Chi & NW 1s. Chl Rys68...... ChiR1& Prtds.. 20 CRIPacaleswi. 18 94 934 ChiTH&SE5s.. 20100 100 {Chi UnSta 4%s... 6 994 99% Chi Union Sta 6%3s. 4 116% 1164 Chi& W inden4s. 6 88' 58 C& W 15%862 3 104% 103% CCC&StL deb 4 1100 100 Clev Term bs...... 4 104% 104% C&Sistas29..... Colo & Sou 41¢s... Cuba Nor 5%s cts. Del & Hud Istrf ¢s D & Hud cv Der & Hud 5 Del & Hud s 31 Den & R10 G cn 4 D 110 G West 5s. Irie 1st cons 4s. KErieGen 4s..... Erie conv 4s A. Erieconv 4s B. Eriecvt 5367 w1 Fla East C s 74, Gr Trunk stdb 6s Grand Trunk 7s Gt Nor 4%s 76 D. (Great Nor gen 7s. Green B & W deb B Hua & Man aj b Hud & Man ref 5s. 11 Cent 4% 66 1 Cent Chi4ls... 5 98 98 int Rapid Tran A1 814 79% Int Rap Tr 6s stpd 337 81% 79% Int Rapld Tran 6s. 49 32% 80% Int Rup Trans 7s.. 81 100k 99% 5 107% 10T% 93% 99% B86% 86% ap = 1p 2 93 98 12 74% 8% 1 100% i00% 6 90% 90% 1 99% 99% 4 90% 90 6 984 93% 4 95 100 994 116% 88Y% 103% 100 104% 4 113 .10 98 20 113 2 26 112% 98 112% 251 6 90 BYs, 3 98% 98% 8 100% 100 Int&GtNoradj6s52 4 Int RysCASs72.. 2 lowa Cent rf 4s.... 10 Kan City FL S 4s... Kansas City 8 is.. Kansas City S 6s. . Kan City Term 4s. LehiVgen 4%s 2003 Long 13 rf 4549 .. Long Island 55 37.. Louis&Nash uni 4s Louis & Nash 7s. Man Ry 1st 90 Market St 7s 40... Mil EI Ry & L 55 51 Mil Bl Ry & L 5s 61 Minn & StLcn 5 M St P&SSM cn 4s. MStP&SSM5s38gtd MK &T Ist 4s. MK&T4sB 4 B6% 869 M K & T ad) bi 2 104% 104% MK&ToprinbsA. 20 100% 100 Mo Pacific gen 4s.. 30 79 T8 Mo Pac 5s A 6 5 100 100 MoPac5sF 77.... 82 991 994 Mont Trm ref 53 41 10 99% 994 Nassau £14861... 2 60 60 NRM4ls'5lasst 6 15 15 NOTex& M5sB. 2 98% 98% 5 104% 104% 10 9ok 984 3 108% 106% 5107 106% 6 106% 106% 6914 4 9Tl 5 102% 1021, 1 101'% 101% o 497 881y 98k 8TH 8Th 101t 4974 8312 98V 873 867 10434 10015 79 N Y Centrf5s, NYChi&StL 634sA. NYChI&SLL 5%sB. NYC&StL6sA 2102 102 NYNH&H4ks, 18 89% 894 NY NH&H cvdbés 3 113 112% N Y Ont W 1st ¢s. A% Ti% N Y Itys 68 65... 26 24% N ¥ State Ry 4%s. 47% 4T NYStateRy 618 62 b8l 58l 854 8Hlk 91 91 66% 6 91 91 4165 106 7 1134% 113 15 98 98 1 89% 89y 6 100% 9% 4 105% 106% 9 108% 1031 55 110% 110% 3 103% 1034 2 1020 106 106 1 99 . 99k 3 107% 107H 83 83% 98% Northern Pac 58 D. Northern Pacr 1 fs Ore Short L rfs 4s, Ore Wash Ist 4s... Pennsy! gen 4%s Pennsy| gen 5s.. Pennsyl 63 64 Pennsyl 6%s Pennsyl gold Ts Pere Marg 1st 5: PCC&SLLSSA POrtR L & P bs 42. Port RL&P 7%s 46 Rio G Westcl 4s, .. St L IM&S 4529, .. StL 1 M&S gn b8 31 St L IM&S R&G 43 26 StL&SFpl4sA. SUL&SFr4%s SLL&S Fpr n 6 StL &S Finc6s. StLS W con 4s 32, StP& KCShL 4%s 7 96 9 StPUnDep5s.... 2 104% 104% Seabourd AL 4ssta 10 75 75 S 14 100% 105% i 5 1 1 95% 9 S SB All Fla 6335 A. SB All Fla 6535 B, Sou Pac 48 29 Sou Paoific ref Sou Pac 4 s rets Sou Ry gen 4s. Sou Ry Con 6 Sou Ry 6s 56, Sou Ry 6%s. Term AssoS Lid4s.. 1 87 87 Third Ave ref 4560 32 654 Third Avead) 5s.. 214 66k Tol St L& W 4850, 1 Union Fac istés... 6 Union Pacific 43 68, 15 Un Pac4%sél.... 5 Virginia Ky 1St 5s. Wabash 1st bs Whbush 4% 378 rets Wabash 6s 76 B.. . Y Wabash 6%876... 1 103% 103% West Maryland 45. 1 80 B0 Western Pacific 58. 10 97 97% Wilks-B& El 1st 68 5 679 67w Wis Cen gn s 49 5 B3% B3 BRITAIN’S EXPORTS RISE BY $8,000,000 IN MONTH LONDON, September 13 (#).—Creat Britain's trade barometer is rising. A B9 BBW 3 110% 110% 1 115% 115 9 120% 120% 65'n 904 Yl 88 9T 13 July, as shown by official figures, amounted to $304,425,485, excceding the June figures by nearly $8,000,000 and year ago of $23,818,245. Exports for the first seven months |of 1928 show a gain of $88,273,980, | compared with the first seven months of 1927. Imports dropped $49,897,635, al- though for July they showed a gain over July of last year of $10,430,640. Bituminous Coal Conditions. NEW YORK, September 13 (#).— Conditions in the bituminous coal indus- try during August presented a composite picture of the situation in general out of readjustments peculiar to coal mining, Coal Age says. Production show- ed a moderate increase over July fig- ures, reflecting the happy industrial sta- on general business and the steadily diminishing stock piles in hands of con- sumers, % industry and of the reactions arising | bility emphasized in trade comments | I TAR, WASHINGTON, D. C. THURSDAY, SE CURB ISSUES SHOW | | CONTILED GANS Price Movements Conflict in Trading, but Deals Indicate Bullish Trend. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, September 13.—Con- flicting price movements characterized trading on the Curb Exchange today. The outstanding incidents, however, again occurred on the side of advance |and considerable Interest centered in | several new issues which were admitted | to_trading for the first time. Included among the newcomers were the preferred and common stocks of Reynolds Metals Co., with activity and advancing prices in the non-callable participating preferred stock. The issue was offered for public subscription at $60 a share and accrued dividend. The stock opened at a premium of 7% and fluctuated within a range of a point thereafter. Keystone Aircraft Corporation, the latest of the airplane companies to have its stock listed, opened on an initial sale of 1,500 shares at 20 and later crossed 21. | Spalding common was an outstanding feature among high-priced specialties, advancing into new high ground at 210, where it was up almost 17 points. Rumors of recapitalization were In cir- culation. Others that reached their highest prices included Dominion Stores, up over 2 points; Evans Auto Loading, up al- most 2 points; Melville Co., up more {than a point; E. W. Bliss, up over 2 points; Marion Steam Shovel and Bal- aban & Katz. The demand for these issues needed no special incentive. They were merely selected as the most log- ical leaders because of carnings and o future outlook. Gol#on_Center Mines was easily the feature of the mining group Crossing 12, it was at a new high for the move and up more than 3 points on the day. Whother it was new developments at its South American properties, which are close to those of the Patino mines, that was responsible for the demand could not be determined, but buying was said to be for the account of in- terests who took an optimistic attitude toward the company’s outlook some time azo. New Jersey Zinc was a fa- vorite among high-priced mining is- sues, advancing 4 points when it changed hands at 225. STATEMENT OF MELLON Special Dispatch to The Star, NEW YORK, September 13.—In the first statement on business and money conditions that he has issued in months, Secretary of the Treasury Mellon to- day spoke optimistically of the present state of trade throughout the country, but temperec his remarks by the inti- mation that a continuation of high rates for money would probably affect busi- ness later on. Secretary Mellon has been criticized during the past year for statements relative to industrial conditions that he did not at the time square with general cinion. It was felt that he was somewhat too optimistic, both as to the outlook for business and for con- tinued ease in money. The much-dis- cussed reference to brokers’ loans made by President Coolidge last year is be leived to have originated with Mr. Mel- Jon. In what he said today he was more cautious and spoke in more ‘gen- eral terms than heretofore. He pointed out the weak spots in the business situation as well as the strong ones, referring specifically to the coal and textile industries in the first group and to the agricultural outlook in the second. Recognition of the extent to which fuel oil is replacing coal was made and also to the consequences of overexpansion and overstimulation of textiles during the war and their sub- sequent competition ~with artificial fabrics. The worst conditions in the coal industry, however, have already been witnessed and a slow improvement is to_be expected, he believes. What Secretary Mellon said in regard to the money rates received close at- tention in Wall Street, as it comes along with the Government financing at the hi?hesl interest rate since 1923. In the opinion of Mr. Mellon industrial borrowers are not yet affected by the 71, per cent renewal rate for money which has continued for over two weeks or by the small volume of time loans at 7 per cent. Most of their needs have been taken care of at 5l or 6 per cent, depending upon the locality. There are still several of the Federal Reserve Banks whose discount rate re- mains at 4': per cent, compared with the general rate of 5 per cent. Unless money rates show some sign of easing, however, Secretary Mellon feels that business will be handicapped by having to pay above the present range of money quotations. Refined Copper Production. NEW YORK, September 13 (#).— Production of refined copper in North and South America in August was 143,560 short tons, against 135,092 in July and 119,786 in August, 1927, the American Bureau of Metal Statistics reports. The month’s shipments were 143,638 tons against 139,030 in July and 130,520 in August last year. Stocks of refined copper on hand August 31 were 54,093 tons, against 54,871 tons the month before and 93,654 a year ago. GRAIN PRICES INCREASE. Corn Takes Leadership in Grains. Closing Irregular. CHICAGO, September 13 (#).—Corn took the leadership of the grain mar- kets today, and brought about an all- around upturn in price. September de- livery of corn was in special demand from previous speculative sellers and numerous orders to stop losses at vari- ous set limits were automatically forced into execution .n the advance. Notice taken that UL ted States wheat growers were being officially advised to hold | back their wheat w:- a contributing bullish factor and so likewise were trade revorts that frosts have reduced the quality of the Canadian wheat crop 1 to 2 grades on 2 third of the crop. Corn closed irregular, at quarter off to 1%a13 cents up, wheat varying from 3p-cent decline to Yg-cent gain; oats unchanged to }5-cent advance and pro- visions ranging from 5 cents setback to a rise o” 35 cents. WHEAT~ September December March Exnorts from the United Kingdom for | 27 CORN Scptember . December March jan increase over the figures of July a|May | o OATS September (new). December (nes March May, September . | December | Maren . May FEDERAL LAND BANK BONDS. Special Dispatch to The Star. fand an Lan Bank 4s May 1958-38 Bank 4s Nov. 1957-37 Bank 4l Jan 1967-3 Bank 4! Bank 47/ 38 Rank 4% 3"?1 19340p34. 1 ] ; Bank o5 Nov. 1941on31. .. ] A Bauk 55 May 1941ap31..s 100 ON MONEY RATES SIFTED| it | PTEMBER 13, 1 FINANCIAL 15 . 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: Sales i INDUSTRI, 3 ndred: Aifian. Low. olgse. 38 Stutz Mot Vs Swe 38wift & Co .. 4'Syra W Mach B 1 Thomps Prod A . 20 Timken Det Axle .... s 1 Uni Shoe M C. Asbestos. o B Soggadaaaad 2222 ppuanug w 4 Apponaug Co ... . :flAH Metal Wks pfd.. H Gas & El 1 W D 2 Winter B 6 Wire Wheel 1 Worth Ine A. 152 4 Young Spr & Wire 49 Sales in MINING STOCKS. hundreds 60 Ariz Globe C .. exle Metals nt Am Mines ‘Corp. 53, 13% 15 127% 129 38 38'; 387 " 4 Baxter Laund A 5Bird Grocery Strs s E W 9 Cons Cop 7 Cre . 10 Divide Extens E 10 Ecst Butte . . 53 Eng Gold M Ltd I 696 Golden Center M ... pt Hexc“l Min ..... > “3 ;lud ay ‘l:dals & Sm. lg 10 Klrkl%-ke Gold . 1Mason Val ... 3 New Cornelia . 11 Newmiont Mining TN J Zi 10 Parmac Por M Ltd... .21 SRO:H} ntslgpe Cop. . 13 Shattucl nn . 16 8 Am Gold & P v H 324 23 18% 2 B2Y 15% 523 82 Can Marconi W. 1Gan Marconi W w 5 Carnation Milk " Casein "Co... 1 Caterpil Trdct 1 Cavanagh Dobb el 1 T T 5312 53 ‘3" 807 8% 6% 65 p_ Cor. 1 4Cen Pip C Seller 7'd 6Cent Pub S A...... 2 2Cent States El xd... 1€ G Spr & Bump 2 Charls Corp. 69 Check Cab Mfz City Ice & Fuel...... 5 luminum _ Uten Marx..... 5 Sales INDEPENDENT OIL STOCKS. in hundreds. 12Am Con Oilfids 6 13 Am Maracaibo Co 41y 1215 iy i f SR 1Empire G & F 7s pid _99; 2Empire G & F 8s pfd 111 2Gulf Oil Pa ........ 126 40 Intercont] Pet THisby Pt ... u 5 Durant Mot 2 East States Pow 234 El Bond & Sh_Cor. 1EI B & 8h Co pfd. 124 El Invest Inc..... 3 Em Pow Cor. 126 128 10912 109> 3, ta 347 3 33 ns E e 47% 48% 11 Evans Wall Lead. i 1 Fazeol Mot Co.. 14 Fajardo Sug Co... i Fansteel Prod... e Z Federal \V{\'}l:‘fl A 3 Woodley Pet o 5 Eire, e Fhia. Sales in STANDARD OIL ISSUES AND FOR- units. MER SUBSIDIARIES--STOCKS. 1300 Anglo. Am Oil 18%, 300 A A O non vic... 18! 400 Atl Lobos pfd... 3}"0 & P re 15 Firestone Tire 19 Ford Mot Co Can. 3 Foundation For 311 Fox Theaters nk H Ty ‘ Contl. Oi oil 00 Gal § O 4 Freshman_Chas. ?’Enlwn Sylphon. nd I by Gumo 8§ O Kansas.. all Lomp 1000 Va i 2 Hail Printing G 3Hare Parr appin © 8t & yden Chem Pes Sales 1 thousands. BONDS 33 Abitibi P & P 55 A 23 Ala Pow 4las.. . 2 Insur 8 Insur Co 35 Assoc G 5 10 Atlas Plyw 5'us 21 Boston & Me A C.. 1 Boston Cons Gas 55 5Caro P & L 5s 19 Cent States El 5 Keystone Stl 10 Kimberly Clurk Sec 92 9 Louls Phillipe s 99's 62 Marc Wire Lon 25 Marion Steam 13 Marmon_Mot 993 9115 10674 A d B Shovel t M 24 Nat Rub Mach. 1Nat Sug RNJ . a pf N N: orp 6s . 5 Kendall Co 5128 ‘wi. 12 Kep Gas & Coke 55 45 Lehigh Pow 8 Libby McN Memphis Nat G 65 wi. 7 Met Ed Co Pa 4lis ichols & 4 Milwaukee Gas 4'as 4 Nichol & Shep 5Minn P & L 4! 123 Nilex Bem Pod . m; A ptd . 3 Benney A pfd 2penn G 6 102 97% 97% 135 " 137 100 100%, 55 B 97 ' 97 97 38t L'Gas & Coke Gs.. 94l 94%a 9412 4 Scripps E W 5's . 2 Servel Co ‘Del 55 Shaw W & P 4 3 C 3 Pratt & Lamb 1 Shawsheen 7s 15 Proct & Gamble { prop Silk Hose H 3, Pug 8 Corp rts cash 15 Pub 8 & 2 Rainbow Luminous Be P & L pid. 7 Sate-T- g 21> Safeway Stores 16 Safew Strs Opt ¥4 Safew Strs 3 pfd war 3 28t Regis Paper 1 Sanitary Grocery . 4Schift Co 9 Elec & Pow 55 A 99% 19 Warner_Quinlan 6s_.. 114% 10 Westv Chlor 5%as '37. 1013, 1 Western Pow, 5%es A. 101 28 Wheel Stl 4%s B ... 89% 2003 salls FOREIGN BONDS. 2 housands. 1 Adriatic Elec 7s. . 98 Agri Mor Ba s Tiin 65 uenos Alres iehos Alres. 15 luenos Al 25 82 58! 1 3 1 0 1 i vie . mith Co (AO) Southeast P & L n. 3 Southe P & L war . 7 South Asbe: ‘C South Coa : ) B 234 Spald A Spal 135% 135!/. m-Z 53% S1% 52% e 8% | 80" 'mand slow, market weak. ] 9515 0013 | SUPPLIES OF FISH PLENTIFUL IND. G. Dealers Report Receipts of Large Stocks—Crahs and Oysters on Hand. In anticipation of heavy purchase: for the Jewish New Year holiday which start Saturday, local dealers have | on hand large stocks of the type of fish | in demand for this occasion. They also | report the most plentiful supply of soft- | shell crabs available this year The fish eaten by celebrants of the Jewish holiday, which are now to be ! nad are: Rockfish at 25c, whitefish, | | 35c; yellow pike, 30c; flounders, 35c: | large trout, 20c. and carp, 30c. Boston and New York are supplying the local market with haddock at 6c, | ! fillet of haddock, 16¢; cod, 10c; halibut, | 25¢; salmon, 30c, and mackerel, 30c. Crabs and Oysters. Most distinctive of the shipments from the Chesapeake Bay section are soft-shell crabs, some of which sold to- day as low as 25¢ a dozen. Hard-shell crabs are to be had at $2 a barrel. Oysters are plentiful at $2 and $2.50 a gallon, but there is practically no de- mand for them because of the warm weather. Small trout are selling at 5c, | large trout, 15¢; croakers, 15c; spots, 20c; bl h, 15¢; perch, 12%c; butter- fish, 15c; fresh shrimp, 20c; cooked shrimp, 60c, and crab meat, 50c. Meat and vegetable prices today re- mained at the same level on which they have been during the entire week. Vegetables, fruit and poultry are plenti- ful. Large shipments of butter and eggs are being received. Today's Wholesale Prices. i Butter—Cne-pound prints, 50a51; tub, | 49a50; store packed, 30a32. Eggs—Fresh, selected, 38a40; hennpery, | 42a44; current receipts, 35a36; storage, 35a36.. i Poultry, alive—Turkeys, 30; fowls, large, 28; Spring checkens, large, 34a35, medium, 33a34; small, 32a33; Leghorns, 30; roosters, 18a19; keats, young, 50a60; old, 30. Dressed—Turkeys. 40a42; fowls, large, 32a33; small, 28a30; Spring chickens, large, 42a43; medium, 40; | small, 38; Leghorns, 37; capons, large, | 44a45; small, 30a35; ducks, 28a30; keats, young, 80a1.00. | Meats, fresh killed—Beef, 22a26; veal, 22a28; lamb, 28a30; fresh hams, 28a29; fresh pork loin, 40; shoulders, 22a24; smoked hams, 26a39; smoked shoulders, 20a22; bacon, 24a26; lard, 15a15'2. | “Li\ge stock—Calves, 16al16l2; lambs, al5. | Fruit and Vegetable Review. | The daily market report on fruits and vegetables (compiled by the Market News Service Bureau of Agricultural Economics) says: Apples—Supplies moderate, demand light, market steady. Barrels—No sales ireported. Bushel baskets—Virginia, U. S. No. 1, 2!, inches up, Jonathans, $1.50; Grimes, 1.25a1.50; U. S. No. 1,1 2% inches up, Grimes, fine quality and condition, 2.00; unclassified, various va- rieties, 1.00a1.25. Cabbage—Supplies moderate, demand ight, market steady. Virginia—Barrel rates, domestic round type, 2.25; New | | York, 90-Ib. sacks, domestic round type, 2.00. Cantaloupes—Suppiies moderate, de- Colorado— Salmon_tiuts, standard flats, 12s and 15s, 1.00a3.25; 9s, .T: i | jumbo flats, 6s to 12 0al.5( | cellaneous melons—Supplies light, de- slow, market dull. California, ! Balto. & atavier mis- ||| U. S. EXPORTS GAIN IN MONTH OF JULY PR 8 Government Report Indicates In- crease of More Than $36,000,- 000 Over 1927 Mark. By the Associated Press The value of exports from the United States during July, 1928, totaled $378.- 768,065, as compared with $341,809.006 in July of last year. The total value of imports during July of this year was | $317,804,183, compared with $319,298,- 211 “"The total values of exports for July by grand divisions as announced by the Department of Commerce follow: Europe 3. A 38:338.089 16.240.924 5 $378,768,065 $341.809,008 COTTON MARKET WEAK. of Weather Cause; Prices to Sag. NEW YORK, September 13 (#).— Renewed. weakness today followed yes- terday’s rallies in the cotton market, on continued easiness in Livérpool and re- ports of favorable weather in the South. Southern selling was largely in evidence on the decline, which carried prices 30 points or more below yester- day's closing quotations and into new low ground for the current movement. Trading was moderately active, the mid-afternoon market showing net de- clines of 30 to 34 points. SHORT-TERM SECURITIES. % v/ Seligman & Co.) Bid. of Amer. 5s 1952 102 ator 418 1947, 98! 29 9 ceania” Africa Total Reports Favorable (Reported by .J Aluminum Co, American Rodi American Tel Anaconda_Coppe 3 2 | Beif | at esa. & Ohi Columbia_Gas & El Cudahy Packing Co. 58 Duquesne Lighting 4i3 1967 Edison EL 1 of Bos 835 1 Erie By’ Co 75 10 . Gen. Mot. Accep. Corp. 6s 1937. Gen. Pet’ Corp. 5s 1940 R. 55 1957 nk Canada 6s of Penn. 5s 1937. 1 6s 1941 Oregon Short Line 4s Bute OII Corp, ias 1087011 Shell Union Ol Co. 5s 1947.... Sou. Pac. R. R. Co. 4s 1929, . " Ofi N. Jersey 5s idi6 Mt._& So Rwy. 4s 1929 w & M. 55 1946. Wheeling Steel Corp. 5!2s 1948. TREASURY CERTIFICATES. (Rej (R ported by J. & W. Seligman & Co.) turits id, 9918-32 9924-31 99 103 100% Consult Us First If you need money for vour Real Estate financing let us have your application today. Prompt Service | Turlock section, Persian melons, jumbo crats, 5a2.50; standard crates, 2.00; s,. 1.50; few higher. | Celery—Supplies moderate; demand | light, market steady; New York, 2-3 crates, 2.00a2.50. { Lettuce—Supplies light; demand light, | market _steady; New York, 2-dozen| | crates, Big Boston type. best, 1.50a1.75; | | ordinary quality and condition low as | 75; Western supplies moderate; demand | light, market steady: Colorado, crates, | | Iceberg type, 4-5 dozen, 3.50a4.00; few ! 4.25. Peaches — Supplies light; ~demand | light, market stronger; Pennsylvania, | bushel baskets, Elbertas, U. S. No. 1 large size, 2.75a3.00; 2.50: small size, 2.00 Onions—Supplies moderate; demand a | light, market firm; Maryland and Penn- Potato Prices. Potatoes—Supplies liberal; demand | moderate, market steady; East Shore ! | virginia "and East Shore Maryland, | cloth-top stave barrels, Cobblers, U. S. Na. 1, 2.25. | Sweet potatoes—Supplies moderate | demand light, market steady: nearby ! | Maryland, bushel baskets, Nancy Halls, | No. 1; $1.50 bushel | hampers, Yellows, N .50; East | Shore, Va.. cloth-top s barrels, Yel- | . No. 1, few sales, 4.00; North Carc lling,sglalh-top stave barrels, Yellows, No. Grapes—Supplies liberal; demart moderate, market slightly weaker; Dels- ware, 12-quart climax baskets, Con- 3 | cords, 50; Maryland East Shore, 2-quart | de- | climax baskets, Concords, 18. Cucumbers—Supplies limited mand slow, market dull; New York, bushel baskets, 1.50. Pears—Supplies moderate; ~demand light, market steady. Oregon and Cali: | fornia, boxes, Bartletts, fancy, 3.75a4.00; Washington, boxes, Bartletts, fanc; 3.50; New York, bushel baskets, Bart- letts, No. 1. 2.00; few, 2.25. Markets at a Glance (). — issues NEW YORK, September 13 Stocks irregular; Warner Bro: crack wide open. Bonds dull, recent strong issues under pressure. Foreign exchanges steady; Japanese yen drop 13 points. Cotton lower; Southern hedge selling. Sugar steadier; better spot de- mand. Coffee higher; improved Bra- zilian markets. CHICAGO, September 13 (#).—Wheat steady; forecast rain Northwest. - Corn steady; good cash demand. Cattle strong to higher. Hogs higher. CALL MONEY EASIER. NEW YORK, September 13 (#).—Call money easier; high, 71; low, 7; ruling rate, 715; closing bid, 7. Time loans firmer; mixed collateral, 60-90 days, 7; 4-6 months, 6%a7; prime mercantile paper, 5%a5';. - Bankers' acceptances unchanged. i s August 0il Deliveri‘el. NEW YORK, September 13 (#).— August deliveries by 11 pipe lines of the Standard Oil group totaled 17,072« 590 barrels, a daily average of 550,729 barrels, the highest rate in more than two years. This compares with 16.- g‘?} 029 borrels, or 517,420 daily in u 45 Ital Superpow 6s Yatod'B: BK Leon hsenbé%\ 11 Lombard Elec 7s A 1} Minas Geraes 6! 1 Montevide Mor Bk 823 8% BiTy ww 1051, 103, ; 001 o1t 7 780 9 €s '31. Mor BK Venetian 7s A 9! 5Muni Medellin 7s 1 Newfoundland Basin 7s. 45’ A Yt 861 Ws 6 War: Sharks e 8ind 1Indt M Bk Fin 1s 5 Isotta Fraschini 7s 101sotta Frasch s 33 saw xd—Ex-dividend When issued. bushel _ baskets, | | , U. S. No. 1, medium size, 2.25a | .| No Appraisal Fee The Commerc¢ial National Company Incorporated Paid up Cash Capital. Comméreial National Bank Bld; 1ith and G $900,000 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 1403 .26 Jackson Place | ne Streets of Bye and Bye Lead to the House of Never” —Cervantes Your Idle Money Invested in Our First Mortgage otes Will Pay You Procrastination Will Never Pay a Cent Secured on. High-Class Property in Washington and its environs You may buy the entire loan or in Denominations _ of 5250 and upwards (OSS ZBPHE sy | FURNITURE In Washington comes from th 0y, Drices are the lowest iz THE W. D. CAMPBELL ~ COMPAN Two Entrances 1018 15th St. N.W. 1506 L St. N.W. Franklin: 5660