Evening Star Newspaper, September 18, 1928, Page 14

FIN ANCIALY If you need money for your Real Estate financing let us have your application today. Prompt Service No Appraisal Fee } Consult Us First | | The Commercial National Company Incorporated Paid up Cash Cavital, §900,000 Commercial National Bank Bids. 1ith and G Money to Loan Becured by first deed of trust on real estate. Prevailing Interest and commission. 3 Joseph I Weller it "3t 5 § V' WE WILL SELL $2,000 Fairfax Apt. 6 20 P. H. Smith Pref. 12 International Bank. 200 Real Estate Mts. & Guar. $1,000 So. Consolidated Granite. 20 Wardman Mtg. & Dis. Corp. MEHLMAN & COMPANY, 1319 F St. NW. Ph. Main 8847 Over a Third of a Century's Ezxperience —of your apartment’s or other property’s possible earning power can be made quickly—before the present season gets fully Our long ex- rental under way. perience cuts out delay. And our management fore. casts better income. B. F. SAUL CO. Main 2100 925 15th St. 51% and 6% Real Estate Loans Save your time and energy by coming first where you know the money can be found. Prompt decisions. Mortgage Loan Department SHANNON & LUCHS, Inc. 1435 K St. N.W. Phone: Main 2345 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges "~ Commercial Credits Travelers’ Credits Travelers’ Checques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 Unconditionally = CUARANTEED, What Is a Safe Investment? Since the dawn of civilic zation wide experience has proven that a First Mort- gage Note yn a man’s home is the very soundest type of security. This com- pany specializes on First Mortgage Notes secured by fine, modern, owner-occu- pied homes in nearby Maryland communities. Both principal and interest are unconditionally guar- anteed in each and every case. Illustrated booklet sent upon request without obligation. UNION TRUST STOCK |Sanitary Grocery Preferred Also Up—Mortgage Note Issue Announced. BY EDWARD C. STONE. Union Trust Co. stock scored a new high mark on the Washington Stock Exchange today. Stock opened at its previous high, when 10 shares sold at 328. On the only other salz of the day the tank stock Jjumped 7 points to close with a 10- share transfer at Sanitary Grocery preferred also made |a new peak in to- | day’s market, when a single share sold . at 131. Washing- tion was than last week's close, registering Harry Wardman, 1063, ex-dividend, in a very light turn- over. The Potomac Power preferred issues were firm. Columbia Sand & Gravel moved at 92, Mergenthaler came out at 100 and Lanston sold at 114'.. One hundred shares of Barber & Ross com- mon changed hands at 23 and National Mortgage & Investment preferred show- ed a tractional gain when 100 shares sold at 5. Bonds were quiet, seiling at recent levels. Bahkers Hear of Bond Issue. " On invitation of ex-Senator Souther- land, who is now connected with Ham- bleton & Co., a group of Washington bankers, had luncheon this noon at the Metropolitan Club, following which the details of the Wardman $13,500,000 bond issues were explained in full. Hambleton & Co. is one of the partici- pating financial houses handling the issue and the members of the firm wished to answer any questions regard- ing the valuation of the properties in- volved, the earning power of the prop- erties or any other question that might arise in the minds of bankers regarding the big offerings. The firms selling the two issues ex- pect that local bankers will be asked a good many questions by their customers regarding them. The aim of last Sat- urday’s breakfast, as well as of today's luncheon, was to furnish the facts first hant\i Both issues are to pay 6% per cent. Harry Wardman, on whose proper- ties the $11,000,000 and $2,500,000 is- sues are being placed, has been one of the largest builders in Washington for 20 years. The announcement regard- ing this new financing has brought him into the limelight more prominently than ever. Insurance Underwriters to Meet. A. L. Baldwin, president of the Dis- trict Underwriters’ Association, an- nounces that the first dinner meeting of the Fall season will take place tomor- row evening at 6:30,at the Burlington Hotel. John C. McNamara of New York, general agent of the Guardian Life Insurance Co., will speak on “Pre- specting.” Mr. McNamara has been most successful in New York and will answer any questions that may be of ;pisml importance in the Washington eld. A report of the annual convention in Detroit will be presented. The next na- tional convention is to be held in Wash- ington, and this announcement will also be made. An insurance adver- tising conference, composed of adver- tising men in this country and Canada, will take place at the Hotel Washington October 1, 2 and 3. Mortgage Note Issue Announced. Shannon & Luchs are today announc- ing a $400,000 issue of 6 per cent first mortgage notes in denominations of $100 to $5,000 on the Park Tower Apart- ments, to be erected in the 2400 block on Sixteenth street, next to the French embassy and across from Meridian Park. The building is to have five stories and contain 80 apartments. The value of the property, according to the circu- lar, has been placed at $470,000. The notes are priced at 100. The owners of the building are Z. Thomas Gold- smith and William Keller, and the trustees are Herbert T. Shannon and Morton J. Luchs. v The announcement states that the title of the property has been guaran- | teed and bond has been posted for the completion of the building. Commodity Prices Steady. Prices of commodities during the | week ended September 15 showed no change, according to the wholesale price index of the National Fertilizer Association. Significant changes in two groups did occur, however. Textiles de- | clined 3 per cent, due largely to cotton and cotton yarns, and the groups of grains, feeds and live stock advanced 1.9 per cent. Other changes were ad- vances of .3 per cent in chemicals, & per cent in miscellaneous commodities and .1 per cent each in foods, metals and fuel. Gleaned in Financial District. A. Chester Flather, assistant man- ager of the Connecticut avenue office of G. M. P. Murphy & Co., is on his vacation, taking an extended motor trip. '}')he work of changing the entrance from the corner to the F street side of the bank has been commenced. The corner is to be converted into a ladies’ room for banking. ‘The women's committee of Washing- ton Chapter, A. I. B, will hold their annual dinner tonight, a most interest- ing program having been arranged. o Dismissal of the anti-trust citation complaint against the Baltimore & Ohio Railroad because of its acquisition of stock in the Wheeling & Lake Erie, along with the holdings of the New York Central and the New York, Chi- { cago & St. Louis, is asked in a brief filed with the Interstate Commerce Commis- | sion by the road. | The road alleges that no presumption | as to substantial lessening of competi- | tion or restraint of commerce can arise | from the mere fact of stock acquisition. | No such lessening of competition or re- | straint of commerce as the result of | stock purchase has been shown, it is | claimed. ‘ An exhibit of a fully equipped bank | | library will be held by the Special | Libraries Association in connection with | the American Bankers’' Association con- ‘ vention in Philadelphia, October 1-4. Electric Co, Votes Melon. NEW YORK, - September 18 (#).— | Stockholders of _ Electrical ~Products ’Cm’poranon of Arizona have approved the plan of splittingsup the preferred | and common stock, 5 for 1, and a | change in name to the Claude Neon | | Electrical - Products Corporation. _The | corporation is the most important af- | filiated company of Claude Neon Lights, | Inc., which controls all patents and li- censes for making Neon lights and sign: After the split-up is effective there will be outstanding 60,000 shares of 7 per ! cent $20 par value preferred and 185,000 | shares of no par common. NEW YORK DRY GOODS. NEW YORK, September 18 (Spe- cial).—Cotton goods markets were quiet today. Print cloth quotations slipped off 4 at 7% for 64x60s and remained unchanged at 8!, for 68x72s. Raw REACHES NEW PEAK to the Merchants' Bank & Trust Co, £ THE EVENING STAR, WASHINGTON, D. ¢. TUESDAY, NEW YORK STOCK EXCHANGE Abitibi Power(4, Adv Rumley.... Adv Rumley pf. Ahumada Lead. Air Redetn (13). Ajax Rubber. Alaska Junea. .. Albany Papr(2) Allied Chem. ... Allied Cm p£(7). Allis-Chalm (7). ‘Amal Leather... Amerada(2) Am Agricul Chm Am Agri Ch pt.. Am Bank N(t3). Am Bk N pf(3). Am Beet Sugar. Am Bosch...... Am Br Sh(j1.60) Am Brown Bov. Am Brown Bo pt Am Can(2)..... AmCar&Fdy(6). Am Chain'pf (7). Am Chicle(3). Am Drug(80c).. Am Encau(2.40) Am & For Pow.. Am&For Pr2d 7. Am&FoPo pf (6). Am&ForP pf(7). ' Am Home Pr (3’ Am Ice(t2%)... Am Internatl(2) Am LaFr&Foam Am Loco pf(7). Am Metals(3) Am Piano...... Am P& L(D.. Am Po&L pf(6). Am Radlator(5) Am Rad pf(7).. Am Republic. Am Saf Raz(15). Am Seating(3).. Am Ship & Co Am Shipbldg(8). Am Smelting(8) Am S &R pf(7). Am Stl Fdys(3). Am Stl Fy pf(7) Am Sugar. . Am Sumatra. ... Am Tel & Tel(9) Am Tobacco(8). Am TobaccoB(8: Am Tob pf(6).. AmWW&EI(cl). Am Woolen..... Am Woolen p: Am Writ Pactfs Am Wr Pa pf cfs Am Zinc. . Am Zine pf. Anaconda (4). Archer-Dan(3). ArmourDel pf(7 Armotfr, I11{A). Armour, 111(B) ., Armour,I11 pf(7) Arnold Con & Co Art Metal(1%). Asso Dry G(2% Ass00i1(2). Atchison(10). AtlGulf & WI Atl Gulf pf(3).. Atl Refining(4). AtlasPowder (4) Atlas Pow pf(6) Austin-Nichols. Aus Cred(4.49)., Auto Sales. . Autostrap A( Balto & 0(6) Balto & O pf(4). Bang & Ar{3%). Bang & Ar pf(7) BankofCom(18) BankofMan(16). Barnsdall A. Barnsdall B. Bayuk 1st pf(7) Beacon Oil...... Beachnut(3). Belding-Hemwy Belg N R pf(16). Best & Co(3)... Bethlehem Steel Beth Steel pf(7) Bloomingdale. . Bimingdle pf(7) Blumenthal pf.. Briggs MfgFCo. Brockwy Mot (4) Brockway pf(7) Bklyn-Man(4).. BklynUnGas(5) BrownShoe(2%9 Brunswick B(3) Brunswick Ter.. Bucyrus(1).... Bueyruscv(2%) Burns Bros(B). BurnsBrospf(7) Burroughs(t4). Bush Term(g2). Butte Cop & Z.. Butte & Sup(2). Butterick Co. Byer & Co. Byer & Co By-Prod(t2.75). Calif Packg(4) Callahan Zinc. Calumet&Ar(6). Calu & Hecla(2) CanDryGAle(3) Can Pacific(10). Cannon Mills... Case Threshg(6) Cent Alloy(2). . Cen Ry NJ(112) Century R pf(7) Cerro de Pas(5). Certain-Teed(4) Chandler-Clev.., Chandler-Cl pf. . Ches & Ohio(10) C & O Corpn(3). Chi & Alton. Chi Gt West pf. Chi M1l & St P.. Cht Mil & StP pf Chi & Nwn(4).. Chi Pne Tool(6) Chi R1&Pac(6). CR 1 & Ppf(8). CRI1&PDpf(7). Chickasha (3) Childs(2.40) hile Co(2% Chrysler(3). City StoA(3%). City St B5% stk Coca-Cola(6)... Collins & Aikmn Col Fuel & Iron. Col & Southn(3) Col Sou 1st(4).. Col Gas & E1(5) Col G&E pfA(6) Col Carbon(4) Com Cred(1)... ComlinvTr(3.60) Com Cristpf 6% Com Cr pf(1%). Com Solvents(8) Com Powr(#3).. Com Powr rts. .. Conde Nast(2).. Congoleum-Nair Cong Cgrs (16).. Consol Cgrs(7). ConCigprpf (6% Con Film pf(2). Consol Gas(5).. ConsolGas pf(5) ConRRCuba pf 6 Consol Textile. . Container A 1. Container B 60c. Cont Baking A.. Cont Baking B.. Cont Bak pf(8). Cont Can(5).... Cont Insur(6).. Cont Mont (80c) CornExBank (20 Corn Pro(i3%). Corn Prod pf(7) Coty Inc(gb). Crucible Stl (5). CubaCaneSugar. Cuba Cane Su pf Cuba Company . Cuba R R(4.80). Cuban Am S(1). Cuban Dom Sug. Cudahy Pkg(4). Curtiss Aero(1) Cushman’s(§4) . Cushmann pf(7) Cutir-Ham(3%) Davison Chem. . Debenhms(2.18) De Beers (a97c). Deere&Co pf(7) Del & Hud(9)... Open. 51% 60%4 65 3 9% 8k 4 25'% 199% 122'% 137% 11% 3274 20% % 29 61 111 95% 103% 87 113% 6 119% 96 117% 50% 16'% 844 105% 159% 145 5% 85 251% 136 60% 112% 1% % 18214 168'% 1684 115% 10% 89% 424 29% 49% . 50 195% o4 57 176% 11% 45% . 116 9% 2% 113 645% 781 85% 31% 106 19 67% 120% 1 109% 108% 75 % 8% 8 166 165% 165% 54% 62 4% 168% 49 38% 104% 169 53% 9% 10% 47% 109 7 111 3% 81% 3 113% 34% 83% 216% SEPTEMBER 18, 16384 Received by Private Wire Direct to The Star Office. . High. Low. Close. 4 4 80% 784 T8% 8% B 84 4% 4 4 25% 25 199% 196 122% 1224 137% 136 1% 1% 327 32% 20% 20% n% 71 129% 129 61 25% 1965 122% 136 11% 3214 20% 7% 129% 61 22% 36% 41% 14% 51% 107% 95% 103% 103% 87 85% 12 11% 80% 78 44% . 4d% 963 95 9 95 107 5% 44 110 113% 6 6 118 120 96 117% 507 16% 844 105% 160 85 256% 136 60% 112% 8 72 182% 168% 168Y 115% 89% 42% 29% 49% 50 195% 54% 193% 52% 57% 56% 5% 176% 173 173% 80 80 _106 5% 5% 60 60 1% 11 11 45% 45 45 116% 114% 115% 9% T79% T79% 4% 2% T4 113 110% 110% 645% 645% 645% 81 775 175 35% 33W 33 34% 34% 344 106 106 106 19% 18% 18% % 17 17 4% 14 14% 84% 84% 844 85% 84 84 67% 654 65% 120% 119% 119% 44 43 43% 109% 109% 109'% 108% 108% 108% 5% 5 7 8% 193% 53 5% b3% 54% 62% 6l% 62 124 124 124 4% 13 3. 168% 167% 168% 69% 49 49% b56% 55% b65% 45% 43% 43% 8T% 36% 37 4T% 46 46% 38% 37 37 104% 104 104 170 169 170 53% b63% 54 9% 9 9 10% 10 10% 4% 4% 4% 118% 109 118% i mom 8% 3% 3% 81% 79% T9% 3 24 2% 113% 110% 111% 35% 34% 34% 83% 81 81 216% 213% 213% 4 48% 366 312 312 31 87 100% 43% 11% 22% 188% 69 12 1% 14% 32% 3% 54w 7% 135 126Y% 101% 107% 49% 55% 545 108% 53% 91% 172 6414 6715 114 1% 127% 107 101 3415 108% 86% 24% 221% 831 1% 65% 2T% 72 917% 159% 217 135% 60 61% 40% 24% 124% 197% 87 87 104% 99% 100 44% 43% din 1% 11 11 22% 22% 22% 188%5 186 186 69 68% 68% 12 a1 ) 18% 17% 175 14% 13% 13% 33% 314 31k 37% 861 36% 5i% 5214 53 87% 86% Bo% 185 134% 135 126% 124% 124% 102 101% 102 107% 107% 107% 49% 49 49 ba% b4 bd% 55% B3% - 53% 108% 105% 106% 53% 53% 53% 934 91% 92 172 1711 65% 614 68% 66% 114 114 % 71 130% 127 107% 107 101 34% 34 10835 107% 88Y% 863 241 24 221% 21 83% 8219 20 17% 7 140 140 2264% 222 80% 79 i 1623 154% 217 217 136% 1355 60 60 62 60% 40% 40% % 24% 12415 124% 20214 197% silks gained 5 points in an active market. Del L & W({7).. 133% 1331 133 ¢ Detroit EA(8). Devoe A (13.20). Devoe&R 1st(7) Diainond M(19). Dodge Bros A... Dome Mines(1). Drug Inc(4).... Dul S S & Atlan. Dunhiil Int(4).. Dupont(+13.50) . Dugq Lt 1st(5). Eastman(18) Eastman pf( Eaton Axle(2).. Eitingon (234).. Eitingn pf(63%). Elec Auto L(4). Electric Boat. .. ElecPow&Lt(1) - Elec P&Lt pf(7) Elec Stor Bat(5) EIk Horn pf.... End-John(6)... Engineers Pub S Eng Pu S pf(5).. Equit Bldg (2) Erie R R. Erle 1st pf. Erle 2d pf...... Eureka V(13%).. Fairbanks Co pf. Fairbanks(3) FairbankMpf FedLight(h1.40) Fed Light pf(6) Federal M & Sm Fed MotT(f80c) Fidelity-Phoenx First NatS(1%) Fisk Rubber.... Fisk 1st pf(7).. Fisk 1st pf ev(T) Fleischmann(3) Florsheim (A).. Florsheim pf(6) Foundation Co.. Fox Film A(4).. Freeport (16%). Gabriel Snub A.. Gardner Motor.. Gen Am Tnk(4 GenClgars pf(7) Gen Elec(5)... GenElec sp(60c) Gen GasA(ol3) Gen GasB(el%) Gen Ice Crm(3). Gen Motors(17). Gen Mot pf(7).. GenOutdrad(2). Gen Ry Sig(5). Gen Refrac(3 Gillette Raz(5) Gimbel Bros. ... Gimbl Br pf(7). Glidden Co.....: Glidden(rights) . Glidden pr pf(7) Gold Dust (5)... Goodrich(4).... Goodrich pf(7). Goodyear Tire. . Goodyr 1st pf(7) Gotham(32%).. Gotham n($2%) Gothm pf exwar Graham-Paige. . Grhm-Paige cfs. Granby Min(4). Grand Stores(1) Grand Unfon..,. Grand Un pf (3). Grant WT (1).. Graselll (2.68).. Grt North pf(5) Gt Nor pf cfs(5) Grt Nor O(1%). Grt Wn Sug 2.80 Grt Wn Su pf(7) Greene Cana(4). Guantanamo Su. Gu M & N pf(§). Gulf States Stl. Gulf Sta 1st(7). Hack W pf(1%) Hanna 1St pf. .. Hartmn B(1.20). HavEl Ry pf(6). Hershey Corp... Hershey pf(4).. Hershey prpf(6) Hoe& CoA..... Hoe & Co rights. Hollander & Son Homeatake(17). Houshold(14). Open. 219% 554 112 160 21% 9% 112% 4 108% 31 4% 18% 8% Houston Ofl..... 1 Howe Sound(4). Hud Man(2%).. Hudson Mot(5). Hupp Mot (£2).. Illinots Cen(7) Indian Refg ctfs Inland S(kt6%). Inspiration Cop. InterboroRapTr InterconRubber Internat Agri. .. int Ag Ch pf (7). Int Bus Ma(5).. Int Cement(4).. Int Com Eng(2). Int Mer Marine. Int Mer Mar pf. Int Nickel (3) Int Nickel (rts). Inter Nick pf(6) Int Paper(240). IntPap cfs(2.40) Int Paper pt(7) Ln Pap pf cfs(7) Int Preg Ink 2%. Int Ry Cent Am., Int Tel & Tel(6) Island Creek(4). Johns-Manv (3). Jones Tea . Jones & Li Jordan Motor Kan City South. Kan C So pf(4) Kayser J(5). Keith-Albee.... Keith-Al pf(7) Kelly-Spring... Kelly Tire 8 %pt Kels Hayes(2).. Kelvinator Corp Kennecott (6).. Kinney (G R). Kinney pf (7) Kolster Radio. . Kraft(glig). Kresge(1.60).. Kresge SS pf(8) Kresge Dept S.. Kress (S H)(1). Kroger Gro(el). Lago Ofl..eue.s Lambert Co (16) Lee Tire & Rub. Leh Por Cmt 215 LehighVal(3%) Lehn & Fink(3) Life Sav(1.60). Lig Myers(t5).. Lig & Myrs B 16 Lig & M p£(7).. Liq Carb(3.60) Loew's(13)..... Loew's pf(6%). Loft. cesare Loose-W(1.60).. Lorillard Co.... Louisiana O11 LouisGasA (1. Louis & Nash (7) Ludlum StI(2).. McCall Corp(3). McCrory B(2).. Mclntyre P(1).. McKeespt Tin P} Mack Truck(6). Macy Co (2). Mad 8q Gar (2 Magma Cop(3).. Mallison & Co... Mandel(2%).... Man Elec Suply . Man El m2g(d5) Man Shirt(2)... Maracatbo Oil.. Marland Oil. Marlin-Roc 2% Martin-Parry Mathleson(6) Mexican Seab... Miami Cop(1). Mid-Continent Mlddle States. .. Alid States cifs. 122% 33% 120% 103% 12% 833 High. 57 112 160 21% 9% 113% 4 120% 10% 65 687% 69% Low. Close. 219% 217% 2174 554 112 160 21% M% 111 4 60% 3924s 100% 564 112 160 21% L2 111 4 Midland pf(+12) Miller Rubber, . Minn StP&SSM.. Mo Kan & Tex. . Mo K&Tex pf(7) Missouri Pacifio Missouri Pac pf. Mohawk C 62%zc. Montgmry W (15 Moon Motor.... Mother Lo(30c). Motion Pic Corp Motor Meter A.. Motor Prod 12). Motor Whi(2) Mullins Mfg.... Munsingwr(3).. Murray Corp. .. Nash Motrs(16) Nash & Chat(7). Nat Acme (sta). Nat Bellas Hess NatBHess pf(7) Natl Biscuit(17) Nat Cash R A(3) Nat Dalry(3). Nat D St 1st(7 Nat Distiller: Nat Enamel & S Nat Lead(5).... Nat Lead pfA(7) Nat Pow&Lt(1) Nat Radiator. .. Nat Supply(16). Nat Surety(10). NatTea(4)..... Nevada C(1%).. & Y Air Br(3) N Y C& StL(6). C StL p£(6) T NH&H(1) NH&H pf(7 Ont&Westn Railways pf N Y Stm pf(6).. N Y Stm pfA(7) Nort & Wn(f10) NorAm b10% stk North Am pf(3) NorAm Ed pf(7) North Pac (5).. Nor Pac cfs(5).. Norwalk Tire... 100% 100 5% 011 Well Supply. 1 01l Well S pf. Omnibus Otis Elev . Otis Elev pf(6). Otis Steel. . Outlet Co(4). Pacific Coast. Pac Coast 2d p Pacific Gas(2) Pacific Light (3) Pac Oil Stubs. .. Packard Mo(t4). Pan-Am Petrolm Pan-Amer Pet B Panhandle . Parmt-Fm(j8).. Park & Ti},(13). Park Utah(80c). Pathe EX.....e Peerless Motol Penick & Ford.. Penn Dixie Cmt. Penn R R (3%). People’s Gas(8)., Pere Marq(8).. Pere Marq pf(5) Phbila & RC&1.. Phil-Jones p£(7) Phil Morris(1).. PnillipsPet(1%) Pierce-Arrow. .. Pierce-Arrow ’| Plerce-Ar (A) 134% 80% Pierce Oil.. Pierce Oil pf.... Pierce Petrolm. . Pillsbury (12.10) Pitts Coal. . Pitts Coal pf.... Pitts&WVa(6).. PortoRicoTobA. PortoRicoTobB. Postal T&C pf 7. Postum (3). Pressed Stl Car. Pr Stl Car pf(7) Produ & Refinrs. Producers&R pf Pub Serv NJ(2). Pub S NJ pf(7). Pullman Co(4).. Punta Aleg Sug. Pure Oil (50¢).. Purity Ba p£( Radio Corp..... RadioCo pf(3%) Reading Ry (4).. Real Silk Hos... Real Silk pf(7). Rets (R) & Co Remingtn-Ran Reo Mot(t1.20). Rep | &S(4).... Rep 1 & S pf(7) Reynolds Spngs. ReynldsTobB(5) Richfield Of1(2). Rossia Ins(5)... Royal D(a3.222) St Jos Lead(3). StL & SanF(18). StL&SK 2d pd(6) StL&Southwest. Savage Arms(2) Schulte (g3%).. Seab Alr Line. .. Seagrave(el.20) Sears Roe(32%4) Seneca Copper.. Shattuck FG( Shell T&Ta2.425 Shell Un(1.40).. Shubert The(5). Simmons Co(3). Sloss-Shef(6).. Snider Packg Co Snider Pkg pf. .. So Por Ric S(f2) South Calif Ed.. South Dairies A. South Dairies B. South Pac(6)... South Ry(8).... South Ry pf(5). SouRyM&Ocfs 4 Spang Chalfnt.. Spicer Mfg... Spiegel Co (3).. Std Com Tob(3). StdG&E (3%). Std G & B pf(4). Std Milling(5).. Std Plate Glass. Std O Cal(2%).. StdO1INJ (11%). StdO1INY (1.60). Std P Glass pf.. StdSanPro(1.68) Stanley Co..eue Stewart-War(6) Strom Car(2)... Studebaker (5) Studebak pf(7). Submarine Boat. Sun Oil(n1). Superior Ofl Superior Steel Sweets of Amer. Symington. ... Symington Cl A. ; Telautogh(30¢). ‘Tenn Copper(1). Texas Corpn(3). Texas Gulf Sul(« Texas & Pac(5). Tex Pac C & Oll. Tex Ld Tr(new) Thatcher Mfg. The Fair(2.40) Third Avenue. Thomp J R(3.60) Tidewater AsOil Tid WASOIIDf(6) Tidewater Oll 80 Tide W Oil pf(5) Timken(15). . Tobac Prod (8).. Tobac Prod A(7) Tob Prod ctfs B. “Transcont Ofl. .. Transue & W(1) Trico Prod(2%) Twin City R(4). Udwd El F(4).. Un Bag&Paper. . Union Carb(6).. Un OI1 Cal(2)... Unton Pac(10).. Un Pacific pf(4) Utd Biscult 1.60. Utd Cigar St(1). Otd Frult(15%) Utd Paperboard. “|\west P Po pf(7) COPPERS HOLD LEAD Motors, Rails and Oils Drop Slightly From Previous Close. BY GEORGE T. HUGHES. NEW YORK, September 18-—In al stock market which at intervals was | subjected to heavy profit-taking, the | copper stocks were predominately the| leaders today. Trading continued at| an active pace, with the tape again| encountering difficulty in keeping up. Such groups as the motors, rails and oils, which shared equally with the metal stocks on Monday, came off from their previous closing prices with the result that the market assumed an ap- pearance of irregularity. American Smelting & Refining, cross- ing 256, was up almost 6 points to the highest at noon which the stock has ever sold. With the copper metal firm- ly established on the 15-cent basis, even the high cost producers were in a posi- tion to obtain a good profit margin. | Higher prices for this issue were based on expectations of an increased output during the remainder of the year, which nearly would mean larger earn- ings for American Smelting. Anaconda was again turned over in enormous vol- ume, making a new top since 1917. Corrode Pasco was carried to its high- est in history, above 104, before the de-; mand was supplied. Kennecott, after opening on a block of 4,000 shares at 101, went through this figure to its highest, while low-priced members of the group werg featured by an urgent demand for Nevada Consolidated. Continental Leads. General Motors changed hands most | of the time around the previous clos- ing price of 208%;. The leader of the group, in point of activity, was Con- tinental Motor, which opened on a block of 5,000 shares at a new high of 18 and went to 20, where it was up almost 3 points. The opening jump of more then af point in Yellow Truck & Coach, which involved a block of 10,000 shares, drew the stock more into line with others of the group. United States Steel dropped below the previous final of 159, but offerings were well absorbed. Inland went to a new high, while others of the group moved sympathetically with United States Steel. United States Cast” Iron Pipe had another of its characteristic sharp upturns and at 276 was up 16 points on the day. Failure of Midcontinent and other | producers to follow the lead of the Pennsylvania operators in advancing crude oil price schedules was responsi- ble for the profit-taking which made its appearance in the recent oil l favorites. Among specialties Mengel company reached a new high, Liquid Carbonic was bid up several points and Co- lumbia Gas reached a new high for the present shares. . Opening Higher. Opening stock prices were for the most part higher, but with the demand less pronounced than on Monday. Copper stocks again held a prominent | place in the operations for the rise, with Cerro de Pasco across 100, selling at its highest in history, and Kennecott at its best for all time at 101, an opening block of 4,000 shares changing hands at this figure. General Motors opened unchanged at 208'%, but subsequently worked higher, while United States Steel was up frac- tionally across 159. Among the rails the old line dividend payers were in best de- mand. Canadian Pacific around 217 gained almost 2 points. Continental Motors changed hands in large volume at a new high of 18, while Yellow Truck on a block of 10,000 shares op?n'ed at 39%, a gain of more than a nt. Specialties were featured by a new high for Mengel Co. and higher prices for Radio, Montgomery Ward, Continental Can and Allied Chemical. Silk and Rubber Close. NEW YORK, September 18 (#).— Rubber futures closed steady; Septem- 18.20; December, 18.40; March, 18.50. Raw silk futures closed steady; sales, 620 bales. October, 4.97; December, 5.00; April, 4.98. Open market quotations (60-day basis), Shanghai: Steams—Three danc- H Canton, double extra A X Japanese crack double ex- tra, 4.95a5.05. Many large industrial plants have been established along the coast of China. JSCIPct (10) 263 280 263% 276% S Distributing 15% 15% 15% S Hoffman(4) . 50 Alcohol(5). IndAlf pf(7) U S Steel(7)... U S Steel pf(7). Uni Leaf Tob(3) Unl Pic 1st pf(8) Univ Pipe & Rad Util P&L A(e2). Vanadium(14).. Van Raalte. . van Raalte pf.. Vick Chem(4).. Victor Talkg(4) Victor prof(7). Va-Caro Chem. . Va-Car Ch pf(3) Vivaudou Co. Vulean Detin Wabash. .. Waldorf(1%). Walworth (1.20) Ward Cl A(8)... ward Baking B. Ward Bak pf(7) Warner Bros Pic warner PicA. warner-Qu(2).. warren Bros(4) warren F&Pipe. W Penn El pf(6) W Penn El pf(7) West DalryA (4) West Dalry B... West Maryland. West Md 2d pf. West Pacific. West Unlon(8). Wefthse A B(2) Westinghse(4). Weston Electric White Eagle(2). White Motors(1 White Rock(2). White Sew Mach Willys-Ov(1.20) Wilson & Co.... Wilson Co pf A. Wilson & Co pf. Woolworth(5) Worthn Pum| Wright Aero(2) Wrigley(15%)., Yale&Twne(15) Yellow Truck... i 42% Youngstn Sh(5) 94 9% 92% Hourly Sales on N. ¥. Market. 1lam. 926,500 12 noonl,645.600 1p.m.. 2,371,000 2 p.m. 3,099,000 Dividend rates as given in the above table re the annual payments based on the test quarterly or half-yearly declarations. . of trading less than res. * Plus 4% in stock. stock. 9 Plus 1/35 in stock. al 92% IN'STOCK TRADING Spectal Dispatch to The Star. | B8 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Bid. Offer. 55 1952 103 102% 1047, 961 98 45192 99 ° 9% 10014 99 Aluminum Co. of Amer. & Elec. 5 u 'sne Li ng 4':s 7 Edison El. % n 4128 1930. vear T & R. 58 Gen. Mot. Accep. Corp. Gen. Pet ' Corp, 55 1940. 1 Grand Trunk of Canada 6s 1936 Gulf Ol of Penn. 5s 1937 10 Humble Oil 5's_ 19 Mass. Gas Co New York Tel So Co 4s 1929 St N. Jersey 5s 1946 1 W Rwy. 4s 1929 08" smerty it . Smelting Co, 1.5 1935 Western Electrlc Go. 551944 . Westinghoue E. & M. 5s 1946, . Wheeling Steel Corp. 5'2s 1948. U. S. GOVERNMENT BONDS. (Reported by J. & W. Seligman & Co.) Security Rate. Maturity. ice. Liberty Pirst 3123 June 15. 1947, 9820-33 "Liberty 1st conv. 4'4s June 15, 1947 10; iLiberty Fourth 4% Oct. 15, 1033.. 1015 ‘U S Y i1 19 far. 15, 1956 . S. Govi. 3%s June 15, 1947 U 8. Govt. 3%s June 13, 1943. ."" 99 4-32 “Exempt from Federal normai iricome tax. fExempt from Federal income tax both normal and surtax. TREASURY CERTIFICATES. (Reported by J. & W. Selisman & Co.) Rate—Maturity Bid. 3143 Dec. 15, 102 45" Dec. 15, 3%s Mar. 15, 3%.s Mar. 15. s Mar. 1.5 Sept. RICHMOND LIVE STOCK. RICHMOND, Va., September 18 (#). —Hogs—Receipts ‘moderate; market steady; top, Southern hogs, at 13.35. Cattle—Receipts light; market steady; veal, top, 16.00; cows, 4.00a10.00. Sheep—Receipts, light; lambs, 7.00a 14.00; sheep, 2.00a5.50. Mortgage Money Loaned At Low Interest Ra Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 New York Stock Exchange ashington Stock Exchange Chicago Stock Exchange New York Curb Market New York Coffee and Sugar Exchange New York 52 Broadway Baltimore Boston Telephone Main 245-6-7 1508 H Street New York Private Wire Needs A Specialist BUSY exccutives, whose 'minutesare precious, have learned well the value of con- serving their own time by delegating specialized work to those best trained and equipped for it. It is only natural, therefore, that many such men solve their investment problems by thesimpleexpedientof putting them up to this organization of bond specialists, which de- votes its full time and thought to guarding and advancing the interests of investors. Write to us, or come to see us, whenever investment problems arise. We shall be glad to help you. BALTIMORE, MD. £ 0 Share e S0k m Pavable 1/10. sha United Cigar Stores common stock. n Plus 1% b stoek. Philadelphia The Ritz-Carlton Grosvenor Buil Chicago 231 So. 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