Evening Star Newspaper, September 24, 1928, Page 10

- Money to Loan Bccured by first deed of trust on real estate. Prev: iz Interest a commis Joseph 1. Weller 3 Wesh & on. & Tru F N We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street FIRST TRUST LOANS 5%9% Money to loan on D. C. real estate. Applications in- vited. Prompt attention. W. H. WEST COMPANY Founded 1894 1519 K Street Main 9900 Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 First Mortgage Loans Lowest Rates of Interest and Commission 'Thomas J. Fisher & Company, Inc. Let us have your applications “LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks for itself. Percy H. Russell Co. 1731 K St. N.W. Money Available for FIRST DEED OF TRUST LOANS Reasonable Interest and Commission Rates JAMESF. SHEA 643 Louisiana Ave. N.W. LOANS 5% Homes, Apartments and Business Properties In District of Columbia and Nearby ¥ Maryland-Virginia 3-5-10-Year Terms Prompt Replies Randall H. Hagner & Co. (Incorporated) Decatur 3600 1321 Connecticut Avenue Mortgage Loan Correspondent New York Life Insurance Co. Second Trust Notes We will buy your Second Trust Note if desirably secured on im- proved property in the District of Columbia. Prompt Attention to Applications National Mortgage & Investment Corporation 1004 Vermont Ave. N.W. Main 5833 NS, g AL 5Y2% and 6% Real Estate -Loans | 1 | | Save your time and energy by coming first where you know the money can be found. Prompt decisions. Moritgage Loan Department SHANNON - & LUCHS, Inc. 1435 K 5t N.W. Phone: Main 2345 |ahead of last year. TINANCIAL FOURNEWPEAR | OND..EXCHANGE | Sanitary Grocery, American Securiiy, Gas and Security | | | Storage Go Higher. ) | In one of the busiest sessions of the 1 Washington Stock Exchange in many | months ~ Sanitary Grocery preferred, which closed last week at 135, jumped eight points_today {to a new all-time ! high mark of 143. { The sharp ad- vance is said to be | mainly due to the | price at which the | common ling on the New York | curb. The common closed Saturday at | 42515, but has re- | centiy been_selling well above that fig- ure. The preferred is interchangeabl® on a three-for-one | basis, so that it is | considered here that it may have been undervalued on the lccal exchange. It has recently | been one of the most popular and active | stocks on the local board, its steady ad- vance having caused much comment. At today's session Washington Gas also scored a new high by a fractional gain to par. The stock opened at 993; | but the last three sales, involving 25 were made at 100. Another stock which reached a new top was Se- | | curity Storage, which opened at the re- ent price of 120 and advanced seven | points on the next three sales, to close | at 127, Only one Washingion bank stock ap- | peared on the board, and that stoc | American Security & Trust, scored a new peak. The last sale in' this issue | was recorded at 456. Today the stock | | opened at 460 and closed at 462. Mer- chants’ Transfer & Storage preferred | was up a point from the last sale, and other issues were also strong and active. In the bond division there was also considerable trading at recent levels., The number of local securities now sell- BY EDWARD C. STONE. Vi & John H. Hanna, i ing cx-dividend is the largest in weeks. Hanna to Address Association. John H. Hanna, president of the. Capital Traction Co.. will be one of the speakers at the conventioni of the Amer- ican Electric Railway Association. which meets in Cleveland this week. The as- sociation has a carefully prepared pro- gram which will deeply interest all pro- gressive officials in electric railway companies. Mr. Hanna is on the pro- gram for next Thursday. Institute Work Starts Tonight. Classes in Washington Chapter, American Institute of Banking, open} tonight for the first semester. Among | those to meet this evening are com-| mercial law, under Raymond B. Dicke; standard economics, taught by F. J. Donohue, and investments, in charge of Y. E. Booker. These three instructors| were on the institute faculty last year| and their courses were largely attended Many brilliant students have completed these studies, perhaps the most dis- tinguished student being Harvey W ‘Wiley, who joined Mr. Booker’s class in investments when he was around 80 years of age and attended classes reg-| ularly. | A. E. Henze, chairman of the educa-| tional committee, hopes and expects the institute enrollment this year will sur- pass all former records. $13,209,793 Bid Gets Big Order. The International Envelope Corp., & subsidiary of International Paper Co. has been awarded the contract for sup-| plying the United States Post Office | Department with 12,800,000,000 stamp- ed envelopes and newspaper Wrappers, for the four-year period commencmg’ January 1, 1929. The corporation was the lowest bidder with a bid of $13,- 209,793, which was $105,000 below the bid of the present supplier. The paper will be supplied by In-) ternational Paper Co. and the en-| velopes will be made by International | Envelope Corporation, in which it is | understood the Standard Envelope Manufacturing Co. of Cleveland has an | interest. U. S. Income Tax Payments Heavy. Income tax collections are running Collections for September 20 were $45,084,926 and mis- cellaneous internal revenue collections $2,872,913. Income tax collections for the ! month up to and including SeptemYer 20 totaled $399,492,592, against $372,- 951,377 last year. Miscellaneous collec- tions for the same period totaled $29,- | 857,152, against $33,675,202. Income tax collections for the fiscal year 1929 to and including September 20 totaled $466,788,436, against $445.- 817,494 for the corresponding period in ! the fiscal year 1928. School Savings Booklet Issued. A history of school savings banking in the United States, prepared by W. Espey Albig, deputy manager American Bankers’ Association, has been issued !in booklet form by the savings bank | division of the association. “School savings systems,” says Mr. Albig, “are in operation in 46 of the |48 States of the United States, and | annual deposits in each of the seven States are in excess of $1,000,000. In | one State the annual deposits are above | 1$3,000,000, in another $4,000,000. The | | aggregate’ net annual savings in the United States is above $9,500,000,000.” Heard in Financial District. | | Thomas W. Brahany of Crane, Parris ! & Co. has been in Montreal to attend | the opening of one of the largest depart- ment stores in Metropolitan chain store | system. He was the guest on the trip | of George H. Burr & Co., of New York. | Louis " Rothschild, director of the | Washington Better Business Bureau, has’| | returned from Chicago, where the Bet- ter Business Bureaus of the country have just completed their annual con- | vention. Many practical suggestions were offered during the sessions. Stone & Webster and Blodgett, Inc., E. H. Rollins & Sons and other participat- ing bankers announce the sale of | $4,000.000 State of Massachusetts Met- ropolitan District 4 per cent bonds very soon after the opening of the subscrip- tion books, at prices to yield from 4| | to 3.8) per cent. This would indicate | an improvement in the demand for high-grade municipal bonds. Automobile Factory Sales Gain. August factory sales of motor ve- hicles ip the United States, as reported (to the Commerce Department, were 458,429, of which 400,689 were passen- s and 57.740 were trucks, com- | pared with 391,180 passenger cars and trucks in July 'and 308,826 in August, 1927. These figures are based on fig- ures by 155 manufacturers, 48 making passencer cars and 125 trucks, with 18 making both. Bank Clearings. NEW YORK, September 24 (Special) —New York bank clearings today, $539,000,000; a year ago, $483,000,000. New York bank calances, today, $113,- 000,000; a year ago, $117,000,000. New York Federal Reserve balances, $106,- 000,000; a year ago, $85,000,000. Boston bank clearings, today, $61,000,000. New Bonds Offered. NEW YORK, September 24 (#).—New offerings today include $1,425,000 Ohio Cities Water Corporation first mortgage 512 per cent gold bonds, series A, at 977, and accrued interest, to yield more than 5.68 per cent. An issue of $1,500,~ 000 first lien 5': per cent bonds of Amcrican States Public Service Co. shortly will be marketed, THE Abitibi Power(4 Abitibi Po pf(6) J Adams Exp (6) Adv Rumley. Adv Rumley pf. Ahumada Lead Air Redetn (13). Ajax Rubber. .. Alaska Junea. .. Albany Papr(2) Allted Chem. ... Allied Cm pf(7). Allis-Chalm (7). Amal Leather Amerada(2).... Am Agricul Chm Am Agri Ch pf.. Am Bank N(#3) Am Bk N pf(3). Am Beet Sugar. Am Beet Sug pf. Am Bosch . Am Br Sh(j1.60) Am Brown Bov. Am Brown Bo pf Am Can(2)..... AmCar&Fdy (6) Am Chain pf(7). AmChic pr pf(7) Am Drug(8oe).. Am Encau(2.40) Am Express(6). Am & For Pow.. Am&ForP pf(7) Am&For Pr2d 7 Am Hide & Lea. Am Hide & L pf. Am Home Pr(3) Am Ice(t2%)... Am Internati(2) Am LaFr&Foam Am LaFrance pf Am Linseed. . Am Locomot(8). Am Metals(3) Am P & L(11).. Am Po&L pf(6). Am Radiator(5) Am Republic. Am Saf Raz(t Am Seating(3). Am Ship & Com. Am Shipbldg(8) Am Smelting (8) Am S & R pf(7). Am Stl Fdys(3). Am Stl Fy pf(7) Am Sugar...... Am Sugar pf (7) Am Sumatra (3) | Am Tel & Tel(9) Am Tobacco(8). Am TobaccoB(8 Am Tob pf(6) Am TypeFo(8). Am Type pf(7). AmWW&EI(el). Am Woolen..... Am Woolen pf.. Am Zinc. 5 Am Zine pf... Anaconda (4). Archer-Dan(3). ArmourDel pf (7 Armour, 111(A). Armour, 111(B) Armour.111 pf(7) Arnold Con & Co Asso Dry G(2% Asso Oil(2)..... Atchison(10). Atchison pf(5). Atl Coast L(110) Atl Gulf & W1 At Gulf pf(3).. Atl Refining(4) . Atlan Ref pf(7). AtlasPowder(4) Atlas Pow pf(6) Atlas Tack. . Austin-Nichols. Austin-Nich pf. Auto Sales..... Auto Sales pf(3) Autostrap A(3). Bald Loco pf(7) Balto & U(6)... | Bang & Ar(315) BankofMan(16) Barnsdall A.. Beacon Oil..... Bayuk 1st pf(7) Beachnut(13).. Belding-Hemwy Belg N R pf(16). Best & Co(3)... Bethlehem Steel Beth Steel pf(7) | Bloomingdale. . Booth Fisherfes. Booth Fish 1st.. Borden Milk(6). Briggs MfgFCo. British Empire. Brockwy Mot(4) Bklyn Edisn(8). Bklyn-Man(4). . Bklyn-Man pf (6) BklynUnGas(5) BrownShoe (21 ) Brunswick B(3) Brunswick Ter. Bucyrus(1).... Bucyruscv(2i) Burns Bros(B). BurnsBrospf(7) Burroughs(t4). Bush Term (g2) Bush Ter de(7). Bush Ter pf(7). Butte Cop & Z.. Butte & Sup(2). Butterick Co. Byer & Co... By-Prod(12.75). Calif Packg(4).. Callaban Zine. . Calumet&Ar (6 Calu & Hecla(2 Can Dry (14%). Can Pacifiec10)., Cannon Mills. Caro Clin&0 (4) Case Threshg(6) Cent Alloy(2).. Cen Ry NJ(112) Century Rib M. . 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 & Alton pf Chi Great West. Chi Gt West pf. Chi Mil & St P., Chi Mil & StP pf Ch: & Nwn(4)., Chi RI&Pac(6). CRI1& P pf(6). CRI&Ppr(7), Chickasha (3) Childsi2.40) Chile Ca2ty Chrysler(3).. City St B5% stk Cluett-Peab5). Cluett-Pea ;f(7) Coca-Colai6),. Collins & Atkmn Col Fuel & lron. Col Gas & EI(5) Col G&E bEA(6) Col Carbon(4).. Com Cred«1) Som Cr pf B(2). ComlnvTr(3 60) Com In Tt pf 6% Som Solvents 8 ) Com Powr(t3) Com Powr rt Conde Naxtiz).. | Congoleum-Nair Conley Tinfoil. . Cousol Cisi), Con Film pfi2). | ConRRtCuba pf 6 | Consol Textile. . Contalner A 1.20 Container B 6vc. Cont Baking A'.. Cont Baking B.. Cont Bak pf($). Cont Can(5).... Cont Insur(6). . Cont Mont (80¢) Corn Proct31 ). Corn Prod pf(7) Coty Incigd). Crex Carpet Crucibie Stl (5). Crucible pf(7).. CubaCaneSugar Cuba Company . Cuba Cane Su pf Cuban Am S1). Cuban Dom Sug. Cudahy Pkg(4). Curtiss Aero(1) Cushman's(§4) . Cushmann pf(7) Cutir-Ham(3%) Cuyamel Frult,s EVENING Open. High. Al 883 349% 349% 3. 60% 65% 3 132% 10% 32% 19% 691 25% 60% 22% 114 1% T67x 165% 166% 11 827 8L 9415 20'% 10% 8814 404 189% 115% 45% 17 91y, 171 4814 59% aln 363 46% 3814 103% 175 53 107 114 8% k) 804 ah 112 3414 80% 214% a7y 8 360 41% 310 12 81 102% 10874 491, b2ty 5ah 110% 90 74 119% 16974 610y 69% 129% 107 98 2 113% 97 209% 56 149% 219 137 591y 3% 63k bB3% 5i2iy RE5 6315 66% o 132% 10% 33% 19% 69% 125% 60% 22% 6114 9 114 1% 767k 2234 166 6% 8474 813 944y 204 10 881 4lu 48% 48 19214 104 194% 115% 45% 117 9ty 172 48% 599 41% 364 46% 38 103% 175% 53% 107 114 874 9% 8013 4% 114% 347 ROy 217% 48 98 562 4344 310 12 8L 104% 1087 1 90 ki) 119% 1697% 617 Tl 13 1 1 113% 97 211 86 154 220 139 § 597 . Low. Close. ! 51% Y ) 88% % 349% 49 607 103% 175 53 106% 114 STAR., WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Davison Chem.. Debenhms(2.18) Deere&Co pf(7) Del & Hud(9)... Del L & W(t7).. Detroft Ed(8). Devoe A (13.20). Diamond M(19). 88 . Dome Mines(1). Dupont(13.60) Dug Lt 1st(5) .. Eastman(t8)... Eastman p£(7). Eaton Axle(2).. Eisenlohr&Bro.. Eisenlohr pf(7). Eitingon (215).. Eitingn pf6le). flec Auto Li(4). Electric Boat. ElecPow&Lt(1 Elec Stor Bat(5) 1k Horn pf.... Emmerson B pf. l tingineers Pub § Eng Pu S pf(5). Buuit Bldg (2).. EquitableTr(12) Fatrbanks(3)... FairbankMpf(7) FedLight(h1.40) Fed Light pf(6) Ked MotT'(f80c) Fidelity-Phoenx First NatS(1%) Fisk Rubber.... I'isk I1st pf ev(7) Fisk 18t pf(7).. Kleischmann (3) Fox Film A(4) o | Freeport (163%). Gabriel Snub A, Gardner Motor. . Gen Am Tnk(4). Gen ATC pf(7) Gen Asphalt. Gen Asph pf(5). Gen Cable...... Gen Cable A(4). Gen Cigars(4). Gen Elec(5) GenElec sp(6f Gen Ice Crm(3). Gen Motors(17). Gen Mot pf(7). 691 1804 | 166 GenOutdrad(2). Gen Ry Sig(5).. Gen Refrac(3).. Gillette Raz(5). Gimbel Bros. ... Gimbl Br pf(7). Ghidden Co..... + | Glidden (rights) Gold Dust (5). Goodrich(4). Goodrich pf(7). Goodyear Tire. . Goodyr 1st pf(7) Gotham($23%).. Gotham n($21%) Gothm pf exwar Gould Coupler A Graham-Paig Grhm-Paige c Granby Min(4). Grand Unfon. ... {Grand Un pf 13) Grant W T (1).. Graselli (2.68 Grt North pf(5) Gt Nor pf cfs(5) Grt Nor O(1%). Grt Wn Sug 2.80 Greene Cana«4). Guantanamo Su. Gult Mo & Nor... Gulf States Stl. Hack pf A(1%). Hanna 1st pt... Hartmn B(1 Havana El Ry. . Helme GW pI(7) Hershey Corp... Hershey pf(4).. Hershey prpf(6) 657 1184 s 9% Hoe & Co right Houshold(74).. Houston Ofl. ... Howe Sound( Hud Man(23%). 5 | Hudson Mot(5). 64 | Hupp Mot (£2).. 71% | 1linots Cen7). 9115 | Indep Oil(1)..... 172 | Indian Mot pf(7) Indian Refining. Indiun Refg ctfs Inland S(k16%). Inspiration Cop. InterboroRapTr Intercon. bber Internat Agri... 1t Ag Ch pf (7). Int Bus Ma(5).. Int Cement(4).. int Com kng(2). nt Harv(j6). . Int Harv p£(7). Int Mteh pf 3.20 Int Mer Marine. Int Mer Mar pt. Int Nickel (3)... Int Paper(240). IntPap cfs(2.40) In Pap pf cfs(7) Int Prtg Ink 21, Int Ry Cent Am. Int Ry CA pf(5) Int Silver...... Int Tel & Tel(6) Isiand Creek(4). Jewel Tea(#)... Johns-Manv (3) Jordan Motor. .., Kan City South. Kayser J(5). Keith-Albee. .. Kelly-Spring. .. Kelly Tire 6%pt Kels Hayes(2).. Kelvinator Corp Kennecott (6).. Kinney (G R Kinney pf (7). Kolster Radio. . Kraft(gll). Kresge(11.60). . Kresge SS pf(8) Kresge Dept S. [ Kress (S H)(1). Kroger Gro(el). Lago Oil. . Lambert (16%). Lee Tire & Rub. Leh Por Cmt 2% Lehn & Fink(3). Life Sav(1.60).. Lig Myers(15).. Lig & Myrs B 1§ Lima Locomtve. Liq Carb(3.60) Loew’s(13) Loew's pf( 165% 3 119% 169% ) Lorilla Louistana Uil .. LoutsGasA(1.75 Louts & Nash (1) Ludlum Sti(2).. | McAndrews 2 60 MeCall Corpid). McCrory A(2).. McCrory 3(2). McCrory pf(6).. 99% | McKeespt Tin P) 5’ Mack Truck(6). Macy Co (2). Mad Sq Gar (2 Magma Cop(3) Mallison & Co. Mallison pf(7) Man Elec Suply. Man K1 m2g(d5) Man Shirt(2)... Marland O1l. Marlin-R(3 Martin-Parry. Mathieson(6)... May Dept St4) Maytag(13). Maytag pt (3). Mengel Co.. Mexican Se: Miami Cop(1). Mid-Continent Open. High. 66% 41 12314 199% 132 22 109% 9% 12 60% 395 101% 1815 126 61% 29% 881 374 106% 114% 10% 9 Gen Outdr Ad(4) , 52 Glidden pr pf(7) 1 129% 145 9% 62% 227 kit 49% 124% 101% 44 Midland pf(t12) 2 Miller Rubber. . 59% Minn & St Louls 53% Mo Kan & Tex.. . Low. Close. ! 10 1234 197 130% 214 3 395 4 101% 181% 126 61% 66 41 Mo K&Tex pf(7) Missourt Pacific 1231 | Missonr! Pac pf. 199 | Mohwk Car 235, 132 | Montgmry W (15 215 | Moon Motor.... Mother Lo(30c). Motlon Pic Corp Motor Meter A.. Motor Prod (2). Motor Whi(2).. Mullins M{g.... Murray Corp.... Nash Motrs(t6) Nat Acme (sta). Nat Bellas Hess NatBHess pf(7) Natl Biscuit(7) Nat Bise pf(7).. Nat Cash R A(3) Nat Dairy(3)... 101% 182 126 621 Nat Distillers. .. Nat Distillers pf Nat Enamel & S Nat Ld pf B(6). Nat Pow& L1t (1) Nat Radiator. .. Nat Supply(t6). Nat Tea(4)..... Nevada C(1%) NY Air Br(3).., N ¥ Central(8). N Y C&StL(6). N Y Dock...su.s N Y & Harim(5) NY NH & H (2). N'Y NH&H pt(7 N Y Ont& Westn N ¥ Stm pf(6).. Norf & Wn(110) NorAm b10% sth North Am pf(3) NorAm Ed pf(7) North Pac (5).. Nor Pac efs(5). Norwalk Tire. Ol Well Supply. Ofl Well S pf... Omnibus. Ous Elev( Ouls Steel...... Otis Stl pr pf(7) Owens Bot(ci4) Pacific Gas(2).. Pacific Lighting. Pac U1l Stubs. .. | Packard Mo(t4). | Pan-Am Petrolm Pan-Amer Pet B Panhandle..... Parmt-Fm(j8).. Park & Til (13). Park Utah(80c). Pathe Ex.. Pathe EX(A)... Patino M(2.92). Peerless Motor Penick & Ford. . Penn Dixie Cmt. Pa Dix Ct pf(7). Penn RR (3%4). People’s Gas(8). Phila & RC& . Phil Morris(1).. PhillipsPet(1%) Phoenix Hoslery Pierce-Ar (A).. Dierce-Ar pr (n) Pierce LIl . Pierce Oil pf. Pierce Petrolm. Pillsbury (12.10) Pitts Coal.uu..s Pitte Coal pf... Pitts&WVa(6). PortoRicoTobA. PortoRIcoTobB. Postal T&C pt 7. Postum (3)..... Pressed Stl Car. Pr Stl Car pt(7) Produ & Refinrs Pub Serv NJ(2) Puliman Co(4).. Punta Aleg Sug. Pure O1l (50¢). . Pure Oll pt(8).. Purity Bak(3).. Purity Ba pf(6). Radio Corp..... RadioCo pf(3%) Reading Ry (4). Reading 1st(2),. Reading 2d(2).. Real Silk Hos. .. Real Silk pf(7). Reis (R) & Co.. Reis 1st pf (7).. Remingtn-Rand Reo Mot (11%). Rep 1 &S(4). Rep 1 & S pf( Reynolds Spngs. ReynldsTobB(5) Richfield O11(2). Rossia Ins(5) ... Royal D(a3.222) St Jos Lead(13). StL & SanF(18). StL&SF 2d pd(6) Schulte (3%).. Seab Alr Line. .. Seab Air L pf... Seagrave(el.20) Sears Roe(12%) Seneca Copper. ., Shattuck FG(2) Shell Un(1.40).. Shubert The(5). Simmons Co(3). Simms Pete. ... Sinclair Ofl...., Skelly Oil(2). .. S5y | Sloss-Shef (6) 132% | snider pkg pt. . 33 Solor Rics(r2) °% | South Por pf(8) 136 | South Calif £d.. 145% | South Dairtes A. 10 | South Dairies B. South Pac(6)... South Ry(8).... SouRyM&Ocfs 4 Spang Chalfnt.. Spicer Mfg..... Spiegel Co (3).. Std Com Tob(3). SWC&E (3%). StdG & K pfid). Std Milling(5).. Std O Cal(21). SWOINJI(T1%). | StAOINY (1.60). Std Plate Glass. Std P Glass pf.. StdSanPro(1.68) Stauley Co..... Stewart-War(6) Strom Car(2). .. Studebaker (5). . Submarine Boat. Sun Oil(n1) Superior Ofl Superior Steel. . Sweets of Amer. Telautogh(¥0c). Tenn Copper(1). Texés Corpn(3) . Texas Gulf Sul(¢ Tex Pac C& Ofl. Tex Ld Tr(new) Thatcher Mfg. The Fair(2.40), Third Avenue. . Tidewater AsOll Tidewater Oil 80 | Timkentt5)..., ‘Tobac Prod (8). Tobac Prod A7) Tob Prod efs(A) transcont Oil. . | Transue & W (1) I'rico Prod(214) i Twin City RaTr. Twin City pf(7) Udwd EI F(4)., Unlon Carb(é Un Oil Cal(2) Unton Pac(10).. Un Pacific pf(4) Union Tank(5). Utd Biscuit 1.60. Utd Cigar St(1). Ctd Cgr St pf(6) Utd Fruit(t5) Utd Paperboard U 8 Distributing U S Distribpf(7; U S Alcohol(5). U S IndAlf pf(7) US Leather. ... US Leather A.. US Realty(4).. U S Rubbe . U S Rub 1st pf.. U S Smelt (3%) USSmpf(3%). U S Steel(?).... U S Steel pf(7). 42 . U S Tobacco(d).. 81 s s S s s s s s s 8 D. C. MOXDAY, SEPTEMBER Op . Low. Close. 10315 1 1034 103 142% 89% Nat Surety(10). 3 1431 T9% 162% 205% 56 104 2% 48 3314 101% 69% 331y 101% 69% 190 134% 20 15% T 120% 4 120 161% 1584 141% 141% 86% 86% | pers was a_logical move. 24, 1928.° U.S. STEEL HITS NEW RECORD HIGH Switch From General Motors Makes Issue Market Leader. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 24.—United States Steel selling at its highest price in history above 161 led an impressive demonstration on the side of advancing prices for industrial shares on the stock exchange today. ‘Throughout the forenoon there was every indication that considerable switching from General Motors in United States Steel was in progress, although the former held firm and joined with others in the improvement | as the session progressed. First it was the copper stocks that led the advance, then came the olls followed closely by many of the utilities, notably Public | Service of New Jersey and National | Power & Light, and finally the steels. Steels Follow Rise. Practically all of the independent | steels were carried upward with the big leader. Republic Iron & Steel, Vanadium and Colorado Fuel were up some 2 points while smaller gains were regis- tered in others. The money influence was not a factor the speculative calculations. Call| money renewed at 7% per cent as against the Friday renewal of 8 and | there was an abundance of funds avail- | able at this charge. As the market drew to a close U. S. Stecl was holding within a small frac- | tlon of its absolute high. Trading con- tinued active, with new favorites being | { brought forward when profit-taking de- | { veloped in the early leaders. Among specialties at the close Union | Carbide was rushed to a new high. | Standard Oil of New Jersey changed | hands in one block of 10,000 shares at 47, almost ~ point higher. Canadian | Pacific led the high-grade rails, up more than 3 points. Chrysler and Packard, both at new highs, were the late features of the motor group. Copper Outlook Good. Assumption of leadership by the cop- With stocks in the hands of refiners abnormally low | and producers in a position to speed up | production, the outlook for the copper companies is brighter than at any time in the past two years. The market for the metal was advanced to the 15V were indications that a 16-cent basis might be established in the near future, Anaconda was carried to the highest since 1917, Cerro de Pasco, crossing 10415, reached its highest in history and Granby Consolidated, above 651 went to the best since 1919. Sound, Kennecott and Butte Copper & (Zlnc all made new peaks of one form or_another. Evidence that considerable switching Steel was in progress coincided with ports that several leading stock marke Motors stock, acquired at substantially { lower prices. Steel common, crossing 160, sold within a small fraction of its highest in history and was up over 2 points on the day. Colorado Fuel, Re- i public Iron & Steel and Vanadium were in urgent demand. Irregularity characterized the move- ment of prices at the opening. In point of advance the oils were the favorites, although a number of the coppers | shared leadership in expectation of con- | tinued improvement in the price for ! the metal. WANY HOLD STOCKS TO AVOID TAX LOAD Income Levy Causes Holders to Shun Paper Profits, Baltimore Operators Find. Special Dispatch to The Star. BALTIMORE, September 24.—Many local operators in stocks are consider- ing the income tax question in making their committments. It is said that this is one of the factors which has kept | heavy offerings off the market. It is pointed out that important interests are not only refusing to convert paper profits into cash. but are actually in- creasing their holdings. Many, it is as- serted, are looking two years ahead and, therefore, are not tempted by the large profits they now have on paper at least. Several firms report that some of their customers are carrying stocks which they acquired seven years ago | when prices were anywhere from 50 to 250 or more points lower than are cur- rent today. The return on some of these issues, based on present market prices, is considerably less than 3 per cent. They are not interested in re- turn now, but in prospects of substan- tial enhancement in value over the next two or three years. Unf Leaf Tob(3) Uni Pic 1st pf(8) Univ Pipe & Rad 2415 1 PRI Ace2) 41% Utah Copper (8) 174 80 96 | vanadiumetay.. Van Raalte. Van Raalte pf Vick Chem(4).. Victor Talkz(4) Va Caro Chem. . Va-Car Ch pf(3) Va-Car Ch pf(T) Vivaudon Co.... Vulcan Detin, Wabash. . Wabash pf A(5) Waldoifelg). . Walworth(1 20) Ward C1 A(8)... ward Baking B. Warner Bros Pic Warner Pic A. Warner-Qu 2 Warren Bros( Warrenlst pf(3) Warren F&Pipe. W Penn El pf7) West P Po(6).. West P Po pf(7) West DalrvA (4) west Dairy B.. West Marvland. West Pacific West Union (8 Westhse A B(2 Westinghse:q) Weston Electrie White Eagle(2). White Motors(1 White Rock(2). White Sew Mach Willys-Ov(1 20) Wiison Co pf A. Woolworth(5).. Worthn Pump. . Wright Aero(2) Wrigley(15%).. Yale&'Twne(15) Yellow Truck... Younzsin Sh(5) 617 T4 10915 1454 . 4% 109 14% 534 20% i 107 116% 610 937 11am. Lom. 845,400 651 2.352 900 118,700 Dividend rutes as ziven in the above tabie are the annual cash oayments base iatest auarterly or haif-vearlv decl, < Unit of trading ‘ess + Partly extra 1 Pl 3 1n preferred stock A % 4% In stock § Plus 4 Plus 1/25 in stoek this vear—no resuiar rate b Pav- us A% cent level today for export, and there | from General Motors into United States | operators were liquidating their Generel ! e Pl \ Plus 3 “Giariers In tock, 1 Plus % 1n Iy stock k Plus 17120 <hare m Pavable 1/10 share ‘es common \ FINANCIAL.” Houses and Apartments in All Sections of the City and Suburbs PHONE OR CALL FOR OUR LIST Main 5027 023 NewYork, Ave. and 1237 Wisconsin Ave. REALTOR EquitableCo-Operative Building Ass'n| JOHN JOY EDSON, Organized 1879 ceeereneenees . $5,049,208.49 President WALTER S. PRATT, Jr., Secretary 48th YEAR COMPLETED Surplus & Profits. $1,578,070.05 Subscriptions for the 95th I:cue of Stock Being Received IT'S NOT WHAT YOU MAKE | | BUTT\}}"‘I\-I%'%(Y)% TSSAVE i $2.50 Per Open an account at the Equi- Share Assets table and Save Systematically. Come in and have us explain our plan of savings. 915 F St. N.W. APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the District of Columbia and adjacent Suburbs of Montgomery and Prince Georges Counties, Md. 5%% INTEREST Apply to H.L.RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE, COMPANY OF AMERICA 1001 15th Street N.W. Main 8100 Oldest National Bank in_ the District of Columbia et e oma Canx o e sy 9 o umo? Your Bank’s Friendship —is a valuable asset, not only when you require accommodation, but as a business reference. f[We invite you to make this your bank, and let us make our service known to you. 3% Paid on Savings Accounts Nati(mafl—lu Years Old Metropolitan Bank 15th St., Opposite U. S. Treasury Think of systematic monthly investments gathering such momentum that in 20 years the interest earned actually exceeds the amount of cash invested —in 30 years is more than twice as great! This is precisely what happens when you buy bonds under this plan by equal monthly payments of $10, with interest reinvested at the same rate towards each new bond purchased. 6'2% Compounded Semi-Annually P The interest from your first bond helps pay for another. Soon you have interest on two bonds helping you pay for a third; interest on three bonds helping pay for a fourth, and s0 on. Send in your name and address on form below for free book, “How to Build an Independent Income.” USE THIS COUPON THE F.H.SMITH CO Investment Securities — Founded 1873 Smith Building ~ Washington, D. C. (815-15th Street, N. W. - Main 6460) Branch ofices in— New York—and Other Cities «.B-1