Evening Star Newspaper, September 16, 1928, Page 47

FINANCIAL CURB PRICES DROP IN HEAVY SELLING | and the b office with the trial balance of their general ledger, which is combined with the trial balance of the main office general ledger and a consolidated daily settlement is prepared at the main of- fice before the general ledger book- | keeper leaves for the night. Market Turns Irregular Toward | Comisenwaihi Iiveatnsut Cs A Head Teller. AR Only two tellers are allowed In & Close Due to Liquida- 917 146 S NW. _ Phess Main %03 In Nearby Virginia Prudential 5 2% Insurance Co. Loans IEO§'D High. Low 101 26 99 10 THE WEEK High. low. Last. Yield, 9312 9816 9828 ° 100 16 100 L METHODS OF ACCOUNTING | IN BANKS SHOW IMPROVEMENT . * |Frauds and Stealings of the Old Days Are 10214’ 100 23 10330 102 28 {10121 100 19 10412 103 13 1032 1008 161105 1927 STOCKS HOLD GAIN 10310 989 5 116 6 109 30 U S 4348 1947-52. ‘The head == o - == IN PROFIT-TAKING Market Rallies Sharply to Offset Losses in Late Selling Movement. B the Associated Press, NEW YORK, September 15.—Strong buying support was provided in today's stock market, which rallled in impres- sive fashion under the leadership of the railroad shares. Week end profit-taking sales were well absorbed and there was 2 absence of any concerted “bear” sell- ing such as unsettled the amusement shares in vesierday's late trading. Al- though the observance of the Jewish religious holiday kept many traders away from the market, trading was fairly heavy for a half-holi the d shares. Bullish the statement enthusiasm W of President Walter dard Oil of New Jersey curtailment of pro- duction, nce In copper prices cents a pound and by the prospect ey rates next weck. continued to hover t where further \gold arousing from around the po imports would be profitable, nopes of additional shipments London to New York next week. ad_shares, which have taken little part in the advance h. were under accummulation prospect of a sharp increase in tramc _in the last quarter of St. Louis Southwestern com- h has never paid a dividend, R ong feature, touching a new price for the year at 116, rise . points; Canadian Pacific, New Central, Erie common, New Haven Missouri Pacific common, ansas City Southern, Wabash, St. Tous, San Francisco and Chicago Northwestern also recorded substantial gains. o York common, Baltimore Markets Bpecial Dispatch to The Star. | BALTIMCRE,' September 1 The | general live poultry market, aft hold- ing sieady ihe first part of the week due to the demand for the Jewish holi- day, eased off today with values a shade lJower on most hnes. Demand will be cod for the Jewish holiday on Sep- Yember 24 and large shipmenis of poul- try of all kinds are advisable. Bes market days will be from Septembc) 18 to 21, when all kinds of prime fat stock, especially fat old hens, large, | session, | sales aggregating 1.829,100 § 108% 10 s created by, High 100% 101% 4% 106 100 114% 110% 108'% 109' 10212 30% 984 | 110 105% 105% 105% 107" 116% 109" | ous | 102 34% 94 | 1025 ko | 91 1 1045 1010 11081 1116 126% 106% 94 107 1105 1023 106 108% 998 {119% 1107 97t 105 103% 109% 106 100 107 1161 12813 96 108 104 108% 103 05% fat young chickens and heavy -ducks | b6 will be wanted. Spring chickens are bringing 30 to 33 cenis a_pound, and Leghorns, 28 to 30. Large, fat old hens arc in ample sup- ly and the market is easy at 24 to 29, gut Leghorns will -not_bring over 20, while all poor, light fowl under 3% unds is generally slow sale at 18 to gg Old roosters are in ample supply at 16 to 18. -Demand continues for Spring ducks of desirable size at 24 and 25 cenis a pound, but stock under 4 pounds as well as old ducks 18 not 50 desirable at,18 to 20. Guinea fowl is in more liberal receipt and only birds weighing 1} pounds and over meet with ready sale at 85 cents each, while smaller sell mostly 60 and 65. The market for pigeons holds steady ut 25830 a pair for both young and old. Egg Prices. | The market for native and nearby | eggs holds firm under very light re- | ceipts of fresh gathered eggs and for | this class of stock there is a good and | constant demand at full values, and in some instances buyers do not hesitate to | pay a premium on first quality eges, | but are slow to take hold of any eggs | of doubtful quality. The market closed today at 42 cents a dozen for selected | whites in free cases and 36 a dozen for firsts and free cases, but cur- vent receipts will not bring over 34. The market for white potatoes holds under ample receipts and a fairly good demand, but centers on well graded No. 1 stock. Many of the ar- rivals in barrel stock are showing sun- burn or are ungnlded and tnll such offerings move slowly even at conces- sions in. price. No. 1 potatoes are bring- ing 1.50 to 2.00a barrel and. No. 25 125 to 1.50, while loose stock sells mostly at 1.00 to 1.25 per 100 pounds. Sweet potatoes and yams are in more liberal receipt and under only a fair demand, values show a decline from last week. To bring full quotations, however, all stock ‘must. grade No. 1, as anything off grade, small or irregular quality, is slow to find favor. No. 1 sweets are bring- ing 225 to 2.50 a barrel and mixed, ungraded, 1.75 to 2.00, while No. 2 stock moves slow at 1.00 to 1.25. Yams are selling 2.00 to 2.50 a barrel, as to quality and condition. Garden Truck. ‘Native and nearby garden truck in | Jiberal receipt, but & fairly good de-| mand prevails and the market holds | steady on most lines at the following | quotaiions: Stringless green beans, 125 to 1.75 bushel; beets, 3.00 to 5.00, 100; Cabbage, 4.00 to 8.00, 100; carrots, 5.00 to 7.00, 100; sugar corn, 25 to 35 dozen; eggplants, 50 to 75 a basket; lima beans, 2.50 to 3.50 bushel; onions, 3.00 to 3.75 per 100 pounds; green pep- pers, 25 to 30 a basket; red pepper: 30 10 40 basket; tomatoes, 50 to 85 basket; packing stock, 75 to 1.00 bushel, and small yellow, 35 to 45 basket. The market for green fruits holds steady under a fairly good demand, but centers on first quality stock at the! following quotations: Apples, 250 bushel; crabapples, 50 to 75 basket; Damsons, 1.00 to 1.25 basket: grapes 40 to 60 basket: peaches, 1.25 to 2.2 bushel; Bartlett pears, 1.00 bushel; seckle pears. 1.00 to 1.25 basket; Clapp Favorite pears, 200 to 2.25 bushel; piums, 150 to 200 bushel; watermelons, 25.00 to 40.00 for extra selects; 25.00 to 30.00 selects and 10.00 to 15.00 for prim Cattle Market. The general live cattle market holds steady to firm under light receipts on the wharves and a good demand pre- vails for top grade stock, but all under grades as well as common to ordinary ca moves slow at inside prices. Quotations today at Light Street Wharf Beef cattle—First quality, pound, 13 to 14: common to medium, pound, 8 to 12; bul to quality, pound, 8 to 10; cows, choice o fancy, pound, 8 10 10; common to fair, pound, 5 to 7; oxen, as to quality, pound, ¢ to 9; calves, veal, choice, 17; large, tat, pound, 14 to 15; large, rough, pound, 11 to 12; thin, pound, 9 to 10: rough and common, pound, 7 to 8: sheep, choic pound, 5 to 6: old bucks, pound, 3 to 4: Jambs, Spring, choice, pound, 14 to 1415 fair to good, pound, 12 to 13; common, thin, pcund, 9 to 10: hogs. straight, pound, 12 to 1215: sows, pound, 9 1o 10; stags, pound, 5 to 6; live pigs, pound, 11 to 12; shoats, pound, 9 to 10. Grain Quotations. Closing grain quotations: Wheat—No. 2, red Winter, garlicky, September de- livery, 34; October delivery. 1.33%; spot. 133%. Corn—No. 2, yellow, do- mestic, spot. 1.25a1.26; cob corn, 6.00 per barrel. Oats—No. 2. white, do- mestic, spot, 50251; No. 3, white, do- mestic. spot, 48':a40. ®Rye—Nearby, 10a1.2 Tob;r;n Firm Dividend. NEW YORK, September 15 (P).— Standard Commercial Tobacco Co. de- claved a dividend of 10 per cent in class B common stock on_the common and class B common, payable November & to bolders of record October il 106 106% 109% 102 107% 117% 102% 110 103 104 106% 106% 8% L9ty 102% 101 105% 104'% ity 106% 109% 102% 99 114 102% 101% 987 00 99 1007 105% 98la 107% 101% 101 122% 92 106% 114 89 96 197% 102% 118% 93% 105% 108% 110% 100% 98% 1064 94 2 . 100% 109% 116% 1013 114 1157% 150 to! < | 93 109% | 105k 3 1 103% | vyl 1% 109 | 116% S0 oot Yo'k 3% 98 116% 100 | 106 114% 1 | 100 110 88 101 Low 9% 9% 95 101% 92% 111 107 RS 104 104 100% 24 95% 105% 103% 102% 102% 99 105 105 96 98% 87 9l 98y 3% 104 111 106% 102% 89t 104% 9T 97 103% 102% 4% 116 103% 924 9T 100% 107% 104% 98% 101 108% 106% 103% 8819 86'9 100% 96% 1024 98! 104% 1015 103 1035 102 1025 9Tl 103 114% 98 107% 100 9% 101% 102 98 96 Y% 997% 10214 101% 88 103 106% 97% ki 111% T4 101 92% 98% 93'y 97 100% 92 101% bl 99% 1179 83% 9T% 111% Tém 2% 5 9% 116% 6% 1025 102% 108 Ye'e 94% 103 0% T3m B1Y K ' 106% 114k Y4k 108 113% 96 106% 106% 105% it T 2% s 91k 11 Bt BT y9' 1060 1115 TN 98 84 94% 106 119% 56k 94'n 1021 105% 103 107% 103% 6% 9844 . Ladih 964 1928— flieh Low. 100% 101% 9 104% 994, 101's 116 111% 1010 9915 113% 108’5 102'4 34 101 12 106% 105% 105% FOREIGN. Argentine, June 5s 195 Argentina 88 A-1957. Australia 58 1956... Austria 18 1943, Bank of Chile 6135 1957. Haigium s 1966, Belgium 7%s 1946, Beigium s 1941 Bordeanux s 1934 Brazil 6138 1926-57. 8 99 99 102 5% YnTa 1140 109 107 104 100 25'% 95% 108 103% 103 Canada 5%81929...... Chinese Govt Ry s 1951. Copenhazen 58 1952..... Uzechoslovakia 8s 1961. Denmark 68 1942 Dutch Kast 1ndi Dutch East Indles 6s1963. French Government 78 1949 French Govt 748 1941 German 7a 1949, Trish Free Lealy is 1951 lupanese 618 1954 . . Mexico 4s asst small 1904.... Milan 615 1952... Netherlands 83 1972. 6s 1958 Norway 5%s. . Paris-Lyon Med Peru 65 1960. Peru 7s Polana Queensiand 68 1947, Queensland is 1941. Rhinelbe 78....... 1946, Serbs. Croats, Siovenes $s 1963. Sweden 63 193y Swiss 6148 1946... Toho Elec Pwr 7s 1 United Kingdom 5% Utd Kingdom 6%8 1937.... Yokohama 68 81. R INDUSTRIAL AND MISCELLANEOUS Ater Axri Chemical 7e 19 4. Amer Smelt & Rer 1at b8 1947 106% Amér Smeit 13t 83 1947, 102'a Amer Sugnr Refining 6s 1937, 9%13 Amer el & Tel cl ir 48 1929 103% American Tel & Tel s ¢ b 104 Anaconda Copper s 1963. .. 110% Anaconda Copper cv deb 7s 1938.. 120 Andes Copper s 1943. 0% Armour & Co 4%s 1939, % Armour of Del 3%s 43.... 7 Atlantie Refining deb 58 1937, 99% Barnsdall Corpor: 104 Bell Tel (Pa) ref & 99 Bethlenem Steel p m 6s 1936 5% 102% Bethiehemn Steel s f 68 1943, 76 Cons Coal (Md) ist ref 6 1960, 70% Cuba Cane Sug cv deb $s 1930 106 etroit Kdison ref Dodge 6 1940 9415 HKastern Cubai 101% General Moto! 651937, 2 100% Goodrich (B F) 6 %8 1947, 100% Humble Ofl & Ref 5%s 1932 102 Indiana Steel 6s 1952 96% International Match 5s 1947 1023 Inter Mer Marine 63 1941, 47/ inter Paper 63 A 1947... 92's Internationul Tel and Tel 4% 1054 Kayser Julius 5158 1947, 3 106% weily-Springteld ¥s 19 117% 107% 8% 101% "h 100% Lackawanna St 102 Laclede aly 97 1017 Manati Sugar s € (% ©&% Midvale Steel bs 1938 105' New Kngland T'el 65 1963, 1137 N Y Edison 1st 68 1941 #9% N Y Tel ¢%s8 1939, 106 N Y Tel 68 1941.. 1004 Northern States Power #s, 100' Pacific Gas & Elec o8 1943, 102 Pacific Tel & Tel 1024 Pan-American 6s 34 97 Philadelphia Company bs 116 Public Service 4125 1948 97% Sinclair O 63 1 7 100 Sinelair O 1s 1937, £6% Sinclair Crude Oil 5153 1938, 102 Southern ell Telephone b 10214 Stundard OIl N J 58 w5 United Drug 53 195 €5 U S Rubber 18t & ref 100% U S Rubber 74s 19: U S Steel s £ 55 1963 100 99% Youngstown Stee RAILRUAD. 91% Atchison I & S Fe zen ¢s 1996 91's Atlantic Coast Line st 48 195! 91% Balto & O 18t gold 4a 1948. 96 Balto & Ohlo ev ¢ %48 193] 100 Balto & Ohio ref as 1996 91 B&OPIUsLK&W Vs 101% B & O Southwestern Di' 115'% Canadian Northero 6igs 194 85 Canadian Pacific deb 8% Central Paeifio 48 1949, 96% Chesapeake Corpn bs w $7 Chesapeake & Ohtocv 448 1930. . 97% Chesupeake & Ohio zen ¢ %o 1993, 96% Chicago Bur & Quincy 4138 77 B.. 104's Chi B & Quiney Istrel 58 1971, 3% Chi & Kastern 111 zen 58 1951. Chi Grent Vestern 48 1959 95% Chicago & Northwestn 4 Y s 203 107 Chi & Northwestern 6 %s 1936, 73% Chicago allways 58 1927.. 3% Chi R | & Pacific rel 45 1934 9L Chicago Rock Isiand 4% s w.l.eeo. 974 Chi Union Station 4% s 1963 114 Chi Union Station 64 s 1963 #4% Chi & Western ind con ¢s 1963... 101% Clev Cin Chi & St Louis 6s D. 100 CCC&StL et 6sA 129 105 Cleveland Terminal 5%s s Colorado & Southern ¢ b £6'a Cuba R R 58 1952.. 94% Cuba Northern 5% 19 103'a Delaware & Hudson > %3 Den & Rio Grunde con ¢s 1938 57 Den & RG Weat bs 195 834 krie Lst con ¢s 1998 7% LSrie gen lien ¢8 193 83 Fla BCbs T4, ws G 110 Grand Trunk 954 Great Nortnern ¢ %s 1976. 105 t Northern 2en o %s | i11% Great Norinern gen is 193 7y Havana Electric Rallway 5%8s... 86% Hudson & Mannatian ad) bs 1957, 975 Hudson & Manhatuan ref os 1961 . 4S8 lilinois Central 4% 66. 74'% Inter Rapid Transit 5s LY6 6% Lnter Rapid Trausitcv Is 1933, 85 Inter & Great Nor ad) 6 1963 91 Int Rwys of Cent Am 638 134 ' han C ¥t Scout & M Ka Kansas City Southern Lake Shore 48 1941.. 93% Louls & Nasb unitled 4s 1940. ..., 104 Louts & Nash Lst ref 58 2003, ., ysla Mil Klec Ry & Lt Lt ref 58 61 994 MSLP&SSMéRs 10l 55 Mo Kan & Lex Ist 48 1990 101% Blo Kap & l'ex ad) 58 1987 93 Mo Kan & L'ex pr ln os & 1962 76% Missour! Pacific gen 98 Missour! Pacific New York Cent deb 48 97 i ¥3% N Y West & 1508t0D 438 1946. .., 807 Norfolk & Western con 4s 1396 G4y Northern Pacinic 3s 2047 Northern Pacific 48 1997, . Northern racinc ref 1mp #s 2047, Ore Short | Ore-Wash 18t ref 43 rennsylvania gen 443 | n0syIvania gen 53 19 nnsyivania 6%s 193e 100% ere Marquette Ist 58 1968, 98 Readingz ¢'48 1997.... »4% 110 Grande Western cit 94 R LATK & L 418 1934 94 StLIM&SR&G 4319338, 25% St L & San F'ran pr iD ¢s A 1960 987y St L & San ¥'rap pr b 28 1960, 9914 St L & 3an ¥'rap tnc 68 1960 9la StPKCS Line 448 fluli.. 81949 Seaboard Alr Linecon §s 1946, 98% Southern Pacifio ov ¢e 193¥.. 877 Southern Pacific col ¢s 194% yl Southern Pacific ref 4s LV55 85% Southerp Ry gen 4s 195 102 South Ry 18t 68 1994 117% Southern Ry dev e 195 Chird Avead) 5 1960 1947, Virginian Ry 1st 68 1962, 1)2% Wabash §%s 1975.. 78% Western Maryland ¢s 1963, 97t Western Pacific 55 1946, . cvwe ve 804 Weat Share 15t & Jihlsseceam 106%s 100% . Low. 9: 104% 1004 991, Last 99'% 1l i | 110% 08's 102 b 1014 108"y 29% 106% il4 100t 106%, 101 101 105% 102y 94 100% 116' B8l 101% 100% k0 B9% 99 100t 20% 9% 9319 97in Y3n 4l 100t 9T | tracks and was forced to confess his | and pay it out, sometimes more than Now prevented by Ca_reful Checl(s of All BY 1. A. FLEMIN It is not so many years ago that a note teller of one of our largest banks was found guilty of appropriating thou- sands of dollars of interest which he collected to his own personal use. This practice was not brought to a halt until after the stealings had crossed the $50,000 mark. A little later another note teller made a slip in covering his stealings. amounting to thousands of dollars through juggling with notes. Neither of these peculations would be possible in either of the victimized banks today. Experience is a dear teacher, but its lessons are jmpressive and in the banking business certain to be heeded. ‘Today all notes are entered in a large book, with date of issue, rate of in- terest, date of maturit nd amount of interest due at maturity. Not infre- quently a note is anticipated as to its payment. before maturity, and in that case deduction of interest is made on the record, and on the note teller's sheet of notes maturing on that day. Checking up on collections must result in the equivalent for the notes paid and the interest collected, and at the same time produces for the inspec- tion of the proper higher-up. any notes that have not been paid that proper action may be taken. In this way the bank receives its last cent of interest and principal also. In the Matter of Deposits. In these days of auditors and proving dey ents the paying and receiving tellers draw their salary and must be content with that. They take in thou- ands of dollars in checks and cash thoy take in. At regular intervals during the day collections are made at the tellers’ cages. not of money or checks but of deposit slips, which are then taken to the proof department, where they are checked and totals ascertained, so that in the final checking up the teller must produce an equal amount of cash and checks to square his daily business. In the proof department checks drawn on the bank are charged to the account of the makers, checks on other banks are then prepared for clearings next morning. The Proof Department. The accounting system of the Wash- ington trust companies and also of some of the larger national and State banks has been brought to the point where the general ledger will carry the con- trol accounts of all departments. The accounting and settlement system mak- ing this possible centers around the proof department, which acts as an in- termediary between the tellers in the banking and real estate departments, and certain items of the trust depart- t and the general ledger by com- iling figures from the various tellers ind departments and items received in the clearing for the purpose of posting the controls to the general ledger. The Items. which require the detail and subsidiary | ledgers. When the general ledger account is affected by only one teller or depart- ment, the medium for posting is the teller's settlement sheet; for example, in the real estate department, all col- lections for rents, disbursements for re?nlr.( and insurance and deposits on sales are posted direct from the real estate department sheet. The note teller’s sheet will show all loans, collections of interest on loans and any other general ledger account that will be affected by the note teller only are posted direct from his set- tlement sheet. The trust department books are kept entirely separate and distinct from the banking department books, but the con- trol accounts as far as cash in deposi- tary banks (which are separate and distinet from the banking department funds) and the total uninvested funds are carried on the general ledger. There are numerous transactions be- tween the trust department and the real estate department and the main office banking department and some of the branches each day. These items, if originating from the banking de- partment, the real estate department or any of the branches, are debited and credited to a clearance account of the general ledger. The trust department has a contra account on their books and the balance due either to the trust department or the banking department is cleared by transfer of funds the next morning. The trust department will also have certain other transactions which are cleared through the proof department. All items not mentioned above are cleared through the proof department. Certified Checks, Etc. All treasurers’ checks issued by either the various departments of the banking department at the main office or the branches are payable at the main office. In the issuance of certified checks or any other negotiable instruments, in- cluding certificates of deposit, sales of travelers’ checks or the issuance of let- | ters of credit, a stub is attached to the paper or other invoice form, which is initialed by the officer signing it. ‘These stubs are forwarded to the auditing department, which sets up a separate control of the various sub- divisions of the checks, which stub certifies to the authenticity of the docu- ment. When these are pald the proof department assorts all treasurers’ checks and dividend checks and for- wards them to the auditing department, where they are classified. proven and checked off against the auditing de- partment control. which gives a run- ning balance of all outstanding balances. At the Branches. The branches maintain saparate com- plete general ledgers, while all fiems ex- cept those due from bank or real estate items are carried on the main of- fice general ledger. Any transactions affecting the main office and branches are advised by telephone. fellowed by genera] ledger simply carries controls with the exception of a few accounts confirmation during or at the end of the THE YEAR 1928 TO DATE ON THE WASH- INGTON STOCK EXCHANGE. (Reported by W. B Hibbs & Co., Hibbs Building, Washington, D. C.) SALES OCCURRING ON TLE WASHINGTON STOCK EXCHANGE FOR 1928 UP TO AND | INCLUDING FRIDA BONDS. Sales. 531,000 280,500 25.000 11,500 PUBLIC UTILITIES Anacostia & Potomac River R. R. Ist Capital Traction 1st 65, 1947 C. & P. Telephone 1st 55, 1920 . City & Suburban Ry Ist 5s. 1948 Georgetown Gas Light Ist 55, 1961. Potomac Electric Power 1st s, 19: Potomae Electric Power cons. 55, 1 Potomac Electric Power gen. 6s, Washington Gas Light sen. 85 1980 Washington Gas Light series 4 6s, 1933 . Washington Gas Light series B 6s. 1936 . Washington Railway & Blectric con Washington Railway & Electric gen. MISCELLANEOUS Barber & Ross 8'as. 1037.. Chestnut Parms 6'2s. 1941 Chevy Chase Club 1st 5'as, 19 District of Columbis Pa Wardman FPark Hotel Washington Arcade lss. 1942 .. C. & P Telephone of Virginia 55, 1943 . Y, SEPTEMBER 14, Approx. 0| Open. High. Zow. Close. matutity, 100 100 98 97 St 105 101 101 101 100 104%; 104 100% 108 1013 104 109 1081 106'y 109t 941y 10424 55, 1049, 58 . @ 1981 . 68, 1933 97% Washinaton Consolidated Title 65, 1951....... Washington Market Cold Storage bs. 1938 . STOCKS. PUBLIC UTILITIES, Capital Traction N. & W. Steamboat . Potomac Electric Power pfd. Potomac Electric Power pfd. Washington Gas Sias Washington Railway & Flec. com. Washingten Raflway & Elec. pfd.. NATIONAL BANKS. Commercial ..... District N Farmers & Mechanics Federal-American Liberty Metropolitan . Riggs Second Washington TRUST COMPANIES, American Security & Trust Continenta) Trust Merchants Bank & Trust Natlonal Savings & Trust Union Trust e Washington Loan & Trust . BAVINGS BANKS. Bank of Bethesda . Commerce & Savings East Washington Savings Potomac .. e Security Savin ommy FIRE INSURANCE. Firemen's National Union TITLE INSURANCE. Columbia Real Estate ........ 1 Title & Inv. Co. of Md. com Washington Cons. Title Ins. pfd.. MISCELLANEOUS. Barber & Ross, Inc., com Chestnut Farms Dairy pfd. ... 1 Chevy Chase Dairy pfd. .. 1 Chestnut Farms Dairy com. ... Sand & Gravel pfd... 1 al Nutionsl pfd st Paper Mfg. Co. pfd. District Natiousl Sec. pid Federul-American Co. com. Federal-American €o. pfd. Federal Storage Co. pld. Lanston Monotspe Merchants' Transfer & Sior. com. 1 Merchants' Transfer & Stg. pfd. 1 Mergentheler Linotype Non National Mtg. & Inv. Co. pfd Peoples Drug Stores ptd Peoples Drug Stores pfd. . Sanitary Grocery pfd. Security Storage .. Terminal Ref. Whg. Corp. A Washington Convention Hall pfd. Washington Medical Blds. Corp. Washington Mech. Mtge. Co. com. Woodward & Lothrop pfd. . . UNLISTED BONDS. Army & Navy Club 5s. 1961 ; Cosmos Club 4%z (retired annually) Metropolitan Club 4'zs 1036 STOCKS. Chapin-Backs 1st ptd Miller Train Control . Raleigh Hotel Departmental Munsey Trust Park Savings . . None None Approx vield to Low. Close. maturity. 103'4 108% 6.4% 300'2 306 3.8% m o 12% High 11612 310 14 1093 9% 488 104 265 246% 336 343 253 406 540 270 315 457 135 158 521 328 507% 505 5 330 3 228 430 £ 25% 18 210 56 50 5 00 50 50 34 00 107 00 98 00 00 100 100 None 100 100 100 00 00 ne 10 3.00 7.00 "0 .00 items of | paying and receiving cage. teller has a desk back of the cages— a rule. He gets cash for the till from the custodians of the bank's private vaults or their part of the big | safe, giving requisitions on the custo- dians and is, in general, observer of | their work. Despite all provisions on the part of the bank to get and protect its own, not one institution depends wholly on the honesty of its force or the efficiency of its accounting and protection plans. The human element makes some other protection necessary and so every man who handles a dollar in a bank is usually covered by bonds so that when a defalcation is announced. the story in the press may add “the bank is fully protected by bond.” Wholesale Markets. Yesterday's daily market report on fruits and vegetables (compiled by t! Market News Service Bureau of Agric! tural Economics), sal Apples—Supplies moderate; demand | light, market steady; barrels, no sales reported; bushel bask i No. 1, 2% inches up, Grimes, 1.25a1.50; U. S. No. inches up, Grimes. fine quality and con- dition, 2.00: unclassified, various vari- eties, 1.00a . Cabbage—Supplies moderate; demand light, market about steady: Virginia, barrel crates. approximately 100 pounds net, domestic round type, 2.00a2.25. Cantaloupes—Supplies moderate; de- mand very slow, market dull; too few sales reported to quote. Miscellaneous melons—Supplies light; demand slow, market dull; few sales; California, Tur- lock section, Persian melons, jumbo crates, 3 to 5s, 2.25a2 standard crates, 2.00; pony crates, 1.5 ew higher; poor condition, ail sizes, 1.00a 1.25. Celery—Supplies moderate: slow, market dull: New York, crates, 2.00a2.25; few low as 1.75. Lettuce—Eastern stock: _Supplies moderate; demand light, market dul New York, 2-dozen crates, big Boston type, fair to ordinary quality and con- dition, 50a1.25. Western stock: Sup- plies moderate; demand moderate, mar- ket slightly stronger: California, crates, Iceberg type, 4-5 dozen, 4.50; Colorado, crates, Iceberg type, 4-5 dozen, best mostly 4.00; poorer low as 3.00. Onions—Supplies light; demand slow, market dull; New York, 100-pound | sacks, yellows, U. S. No. 1, medium | to large sizes, 3.75a4.00; few best, 4.25: | Indiana, 100-pound sacks, yellows, U.| S. No. 1, medium to large size, mostly 4.00; Michigan, 100-pound sacks, vel- lows, U. 8. No. 1, medium to large size, | mostly 4.25. | Peaches — Supplies . light: demand | light, market dull; Pennsylvania, bushel baskets, Elbertas, U. S. No. 1. medium | to iarge sizes, a2.75; bushel baskets, Belles, U. 8. No. 1, medium size, 2.2; | Pears—Supplies light: desmand mod- erate, market dull: Oregon, boxes, Bart- demand | 2-3 | moderate, market steady: East Shore Virginia, cloth-top stave barrels, Cob- lers, U. 8. No. 1. 2.25: North Caro- lina. e barrels, Cobblers, | U. 8. No, 1, 2.10. | ‘Sweet potatoes—Supplies light: de- | mand slow, market weaker; East Shore Virginia, cloth-top barrels, yellows, No. | 1, 3.00a3.50; North Carolina, cloth-top barrels, yell No. 1, 2.75a3.00. Grapes—Supplies moderate: demand moderate, market slightly weaker: Cal fornia, lugs. Flame Tokays, 1.75a2.00; Malagas, 1.25a1.40. | Peas—Supplies light; too few sales re- ported to quote. COTTON PRICES DECLINE. | Market Tumbles Under Heavy | Selling From South. NEW YORK. September 15 (Special). —There was another decline in cotton | prices today and under heavy weck end | selling of hedges from the South and a | large volume of business prices lost | 15 points or more and ended at the bottom. Prices on all three exchanges went into new low ground, with July sell- ing below 17!4c in New York and all deliveries ending the week below 17%a¢. despite profit-taking on short con-| | tracts on reports that the tropical dis- | urbance might reach the Florida coast | buying power was not | dequate to offer definite resistance. | | Spots were reduced 15 points to 17.65. | i | CONSTRUCTION REPORT. | ! NEW YORK, September 15 (#).— Cons ction contracts amounting to $516,970.200 were awarded last month in 37 States east of the Rocky Moun- | | tains, a decline of $66,000,000 from | { July, "F. W. Dodge Corporation reports. | The decrea: from August, 1927, was | about $35,000.000. The New England | States and the Northwest were the {only two disiricts showing increases over their July, 1928, records. The total for eight months this year reached $4,545,270.100, an increase of 6 per cent over the corresponding 1927 | period. | | i = . - | Believed to be 300 years old. an elm | | I tree in Hyde Park, London, sudden fell ground { more than a point. The recently listed | tion. By the Assoclated Pr NEW YORK, September 15—The| curb market turned irregular today, as| heavy week end liquidation carried many issues downward in an unusually busy short. session. A .A few industrials made good gains. more drop forging jumping 5 points to a new high, and du Pont Motors selling as high as 7', in contrast to the pre- vious high at 4. A few chain stores ad- vanced on individual developments, Piggly Wiggly Western States “A” going ahead about 4 points to & new high on announcement oY the sale of its stores in the Cincinnati area to Kroger Gro- ceries, while Bird Grocery went to a new high in buying. inspired by recent announcement of acquisition by Safe- way Stores. [ Sparks Withington gained 5 points | and Columbia Graphophone rallied | McKesson & Robbins preferred shares | sold up to 55',. In the amusement | shares, Educational Pictures jumped | over 3 points, while Fox Theater * improved fractionally. Bancitaly dropped another 6 points, selling at 121%, but rallied a point at the close. Bliss & Co. encountered profit taking and Celluloid preferred dropped 5 points. Industrial Rayon was In supply. Mines were {rregular, Hudsoa Bay and New Cornelia making small gains, while Newmont and Noranda sagged. Utilities were also irregular. City Ice and Fuel advanced more than 2 peints to a new high, while Electric Bond and | Share sold a point higher. Electric In- vestors eased a point and Puget Sound preferred dropped 3 points. In the oils, Standard of Indiana gain- ed more than a point and Humble +nd Vacuum fractionally, while Gulf and | Standard of Kentucky sagged. FIRST MORTGAGE LOANS It costs you nothing to talk over with us your mortgage money needs. We'H save you time and sxpedite your actual financing. Low Interest Rates and Commission B. F. SAUL CO. Main 2100——— . ———925 15th St. I WILL SELL #1600 Fuisfaz Ast. G- M. 813%, 1913 53,000 Arlington Apariments, 7%, 1933 @ 100. 1 Estate Mortgaze & e Mo ional Mortgage & Inv. pfd. Secured by first deed of & WE FlNANE —all classes ot income-producing oroperty Large Loans a Specialty Current Interest rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. Money to Loan Prevailing interest and commission. Trust N.W. Joseph 1. Weller it Tk ' 4 % l First Mortgage and Construction Loan Applications Invited at 52% Glover & Flather 1508 H St. NW. Loans to Salaried People “Character Plus Earning Ability Our Basis of Credi BEASONABLE RATES FASY PAYMENTS WASHINGTON WIMSETT COMPANY 903 N. Y. Ave, 2nd Floor. | | | . 10 International Ban THOMAS L. HUME 1412 G St.—Main 1346 Over a Third AP of & Century’s | Ezperience Sl Won't Wait —for tomorrow. If your property needs more effi- cient management at all, it needs it now. It is average come that cou The ier you call us into con- ference, the quicker cre: gs begin. B F. SAUL CO. Main 2100 925 15th St. Let us have your applications for °LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of J5 years speaks for itself. Percy H. Russell Co. 1731 K St. N.W. ; Money Available for FIRST DEED OF TRUST LOANS On Completed Properties and for Construction Use JAMESF. SHEA 643 Louisiana Ave. N.W. LEHMAN'’S TIRE SHOP 12th & K N.W. 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