Evening Star Newspaper, September 26, 1928, Page 13

CURB SPECIALTIES REACH NEW PEAK Electric Bond Rises to Rec- ord as New Stock Plan Is Offered. BY WILLIAM F. HEFFERNAN. Bpacial Dispatch to The Star. NEW YORK, Sepiember 26.—The de- mand for speculative stocks on the Curb Exchange today was not as urgent #s it had been in previous sessions of the week. Nevertheless the upward movement precdominated and the usull; daily new high records were estab- "Fl;l.‘;d in the issues selected for lead- ers Included among these were Puget Bound Fower & Light, up som* 4 poinis among the utilities, but most interest in this quarier centered in Electric | Bond and Share Security. The price or this issue opeaned on a block of 4.500 shares at 135!3 as against the previous final of 137%. It was iurned over in heavy volume between this fig- ure and 130 thereafier. Withington Up. ‘The scarcity of the fioating supply of Sparks Withington was indicatea by the menner in which the stock shot forward to a new peak above 1491 a3 compared with the previous closing of 144!,. New highs aiso were record- ed in American Colortype up over 3 points, Balaban & Katz up almost 3 points, Bastian Blessing up a like amount, National Rubdor Machinery up over 2 points and A. C. Horn almost # point higher. American Rolling Mills was taken up sharply in the afternoon, rising 6 points to 106. Checker Cab Manufacturing | reached its best price at 60 on reports | ©f special developments pending. Specialties Run Up. ‘The main body of curb stocks held firm in early dealings, with here and there rather sharp run-ups in individual #pacialties. Sparks Withington, because of its comparatively small floating supply, was bid up 4 points to & new top. Others that reached their best included Na- tional Rubber Machinery common, Marion Steam Shovel, A. C. Horn and Checker Cab. Electric Bond & Share securities felt the effect of profit taking following announcement the directors had voted to offer pro rata to common stockhold- ers of record October 4 the privilege uf subscribing at $90 a share for one share ©of common stock for each three held. The oils resumed their upward trend, ‘with Standard of Kentucky and Stand- ard of ohlo the lelders PURITY BAKERIES TO BUY N. Y. FIRM «Cushman's to Be Acquired as Re- tail Outlet Under Con- trol Plan. By the Associated Press, NEW YORK, September 26.—Purity Bakeries Corporation, one of the leading baking concerns in the Middle and Bouthwest, yesierday announced a plan to acquire stock control of Cushman's Sons., Inc, which operates 9 baking plants and 186 retail siores in the metro- politan area of New York Clty The two concerns have an aggregate annual out- put of lppmximlhly $15,000,000 worth of baked goods. rity hu offered common stockhold- ers of Cushman's five shares of Purity common stock for ‘each three shares of Cushman’s. Purity has been selling re- cently around $130 & share, while Cush- man's has been selling from $210 to gx!t.h.gk ries Corporetion, rity eries organ- ized in 1024. owns and operates through subsidiaries 39 plants through- out the country. Rl GERMAN BONDS AND STOCKS. Special Dispateh to The Etar NEW YORK, September 26.— Bid. er Govt Red Loan with draw ctis att ver 100 R @t "Govt "Red Grawetts ver 1006 B M \Quoted fu1 8o , Hambure 413 25700 35,00 ‘(Qustea in" doliars er thouiang marks ) Gen 4123 pre-war... 22.00 Ger, Gen Elect 47z 1910 Berlin 42 pre_war Hambure Line 4 American orth German Lioyd %as. Asked. Dusseidort 43 Frankfort a-M 45 vn Munich s pre.war « Commers “-nt Privat Distonts " Gelischati. 53883 3833338383 ¢ A aTal jorth German Northanx E c «3:: 838338883 lfnhr,r P Ha ¢ Company Rate, riod. able, T660rd, Avay Eiee Avp 1goet i All Chem’ & Dye Am G & D Am Giue ‘Bi nac ot pf Triple Sftx Glast. 157 Fin Universal Products....80c Q Inerease. Mont Lt, Ht & Pw Bkin Bor Gs. Citiz St Bx Blne Ribbon Intercontl Inves Do pf Do . . talo Pets of Am Accamulated. €anada Fairbanis- Mo %sie08 *192). Oct. 3% Acc Oct. 15 Sep. 2 SHORT TERM SECUBI'HES (Reported by J & W Selisman & Co. Alvminum Co. of Amer, 5¢ 1952 102 Amer. Tel. & Tel. Co. 451829 987, Bell Tel. rlcanldn 55 10¢ Caiitornia et Co. 31 Co. irn & i W i Ry Co. 4128 1830 Columbls Gas & Plec. $1. 192 Gudahy Packing Co. Shun Bitueane Liknireo 41 1 4ison Fle. 11 Bot. tas 1020 Erie Pvy Co 7s 1910 Vestern Electric C Nestinghodse E Wheeling St. Co. Rubber A;nnoel. NEW YORK, September 26 (Special). «Crude rubber, smoked ribbed sheets, advanced 'sc at today's noon ef 1813¢c. This compares wif Ponth sgs snd ke & year 5gn, THE EVENING STAR., WASHINGTON NEW YORK CURB MARKET Recsived by Private Wire Direct te The Star Office Following is a list of stocks and bonds traded in on the new York Curb Market today: INDUSTRIALS. In hundrm hy 2 Acetol Pred A 2 ) T 5 Apponaug Cn 8 Asso'nre & Brini. 7Pa3779as 237282 13 Gen Aguirre Sig. 2 Cent Pin 82532920y 2Cons Auto Mer. pie 12 Consol Dalry P. 8 Consol P! St suu !utn‘?ovr 3 4 & 81 B!fl;“ Hys ZnaTa o jardo_Sug Ce arny Far Inc g%’!!g't:"l -.“=5;::;=_ o 99 ;g??a?é sz 2 _.3_, Q! Il 2502992080 1u non's rosh cKesson {fl“x Robb pf wi 1Mcla‘llln Stor A n. 12 Mead Johnson 9 Mely n h Bteel . 2314 Wast Ul ¥ Millar Rub nfd. nqam-cu deb_ri re Drop Fo h et Sioal Serv 1Nat ;- Re: Ruberos: 4 1%, Satawey Waves Il 3 Bafew Strs it 'lf T2'2 71 ey Tir b * a5 Regis P fd .. 430 » 8 sbe) -nmry Grocery . Real Est ha 2’%’"’2! §23es ] CTRDIIN P S S3nsaanns FEEh EE (oxt Anto Sup vai . Vhite Sew M deb rts. Yel Taxi C N 13 Youns Sov & Wire! Sales MINING STOCKS. Hungreds. 3Ceni Am Mines. . 20 Con Tun 11 Niplssing 20010 Cop s 10 Roan Ant 173 Shattuck Denn 45 &t Anthony Gold " 24 Yukon Gold. galee INDEPENDENT Hundreas 38 K Maracalbo Co.... 130 Oil. liy. 3 Gors Royaliy.. 11110 %,. puEage o BEuRabiolulea i8S Li 811308 0. nonavi. 1Vilcoz O & U Sales in a'r\m'{luu) 825! les BONDS. in tHousands. 32 Abitibi P &P oA 2 Pow 4128 2520 #3a83 =S Has2i B e 500900 00uTHE>2Y 2335228587 E o ;';159”'",1:!50" e 8. 2% ommony: Ed’ v,- o 1 G, Balt Do 3 18 Cont $ oo & 1] Cudany 50 g§§§==§:=3=:-3: :::s:as::::_.'. 233 323 3 7 4 Met B4 Co Pa 4'>s D 98% 6 Morirs AL Cn Thas. 14 Nararg Co 1Net D Préd s'n 10swuo Falls 65 Bac g & E ws ¥ 5Pac Invest 5 .. 7Penn Oh Pd 6 A 1Penn P & L 58 i1Pnis E 50 4Phva E P ¥ 1 D '53. ~ 10 Ty Del 89 14 Shawin W & P4k o8l Shawsheen 74 98 S‘ Shefl &, 1 21 St B s :a:e;as:s 5 T £Z T I ds 58555, o 3 3 Wheel Btl 425 B.... Sales in POREIGN BONDS. thonsands. 3 Rer < €2 Nenmark 414 17 %r Mix & Ine'7s G §Rirst Bonem Wks T M 13 Ger Cons Mun n 5 28 ar Pro St 1y ER e Mov 'lx 7% R8I 1 Teon Tist~ € 715 vw 10915 1 5 Tomberd v|x~ 7 A 11 1 Mendoza 7'o8 K1rinac Geraes 6155, 1 Mor Rk Reeota T8 1 Savda Falls 5 §5a%% 5 Mozt Tnst 613 33 3;:'.'"’,;“ . inn Huso 78 7Stinn Hugo 75 i ve S 9 Tyrol Hyd a1 18Uni Plec Sev' A 18 14Uni Fl Ser s A oA el Wareay 7~ & ridv‘hm Yieucd. n—New ww—With warrents. FOREIGN EXCHANGE. (Quotations furnished b W. B. Hibbs & Cn.) : Nominal gold Selline ehecks You should make your business to see what CARTER’S it offer. ALL AT $22.50. INTEXTILE FIELD Working Conditions and Nearness to Crop Favor Es- tablishment of Plants. BY JAMES R. RECORD. Special Dispatch to The Star. FORT WORTH, Tex., September 26.— The textile industry is surely coming South. Seventy-seven texiile mills have been established in the Southern States in the first six months of 1928, accord- ing to a recent survey. The statement of the committee of New England industrialists who visited Texas not Jong ago that “it is obvions. if other things are equal, that the logical place for a cotton is where the cotton itself is produced,” also cells attention to the mcvement of the in- dustry to the SfluflL The report o! this committee espe- cially emphesizes that taxes in Texas are fairly low and not to be considered as a detriment to the industry here; that hours of labor permit mills to op- erate at a profit; that the character of employes in Texas mills is high; that wages of competent employes are 25 to 40 per cent less than in New England and that fuel in Texas is plentiful and cheap. State Shows Advance. ‘That Tex2s has made some progress in the textile industry is proved by figures in Davison's textile blue hook. advance nroofs of which have jusr been sent to the press. These figures as of July 1 this vear show cotton mill ma- chinery in Texas as follows: Cards, 1012: ring spindles, 231,366; twister spindles. 16,448; broad and nar- row looms, 5.709. Showing, however, that Texas is still far behind other textile manufacturing Stetes. the following figures are given: North _Carolina (now the second tate)—Cards, 16.267: ring spindles, 6,183.073; mule spindles, 18.008; twister spindles, 139,714; broad and narrow looms, 88.051 Mazsschusetts (still leading State)— Cards, 11,999; ring spindles, 8,303,15 mule spindles. 915.476; twister spindle: D. C. WEDNESDAY. SEPTEMBER 26. 19781 ¢ TEXAS TAKES PLAGE| .430,0!2. broad and narrow looms, 19 South Carolina (now_third)—Cards, 11,329; ring spindles, 5.422.969: mule spincles, 4,308; twister spindles, 139,714; broad and narrow looms, 128,109, Dodge Depression. The committee from Boston admitted that “few New England mills are cperating at a profit,” but “it has been demonstrated in the Carolinas, Georgia and Alabama that it is possible for cot- ton mills making coarse goods to operate successfully during periods of depres- sion when New England mills have failed.” There are many reasons for the suc- cess of mills in the South and par- ticularly in Texas. This State has many advantages over even the Caro- linas and Georgia 2s a locale for cotton manufacturing. In the first place, a mill's investment here will average for the same output something lik2 70 per cent of the in- vestment necessary in other manufac- turing sections. Texas workers live largely in homes which they own. Few are the ‘“company owned towns" in Texas—few and unpopular. That cuts costs wonderfully. Then may be counted the saving in cost of the heating plant. Whereas in the New land States to heat the average mill' requires an investment around 15 per cent of the total amount placed in the plent, in Texas that cost shrinks to less than 5 per cent. This also means a vast saving in the over- head. (Copsright. 1928.) B. & 0. SEES NET GAIN IN AUGUST EARNINGS BALTIMORE, September 26 (Spe- clal).—The August results of the Bal- timore & Ohio Railroad so far as net is concerned are expected to be as (n- vorable as wes the July report, w! showed a gain of $1.161,670, ('umpar»d with the corresponding month last yeer. August traffic, with the exception -f roel, was well up to that of last year, it is understood. Figures for the month are cxpected to be given out this week. SEd g e New York Bank Clearings. NEW YORK, Scptember 26.— New rork bank clearings today. $1.362,000, A year ago, $1,004,000,000. New York hank balances today, $100,000.000; a year ago, $104,000,000. New York Federal Reserve balances today, $94.- 000,000; a year ago, $80. 00000 ton bank clearings today, $78, () Clothes ALL AT Name! A but---what’s behind it? N organization of trained men and women whose untiring efforts are collectively as- sembled to fulfill the purposes of this business— DRUG FIRM PLANS HUGE COMBINATION Mutualization Scheme Will In- clude Companies With $100,000,- 000 Selling Power. NEW YORK, September 26 (#).— McKesson & Robbins, Inc. and affiliated companies, which recently grouped 15 leading wholesale drug compenies, will make formal announcement on Novem- be 1 of a huge mutualization plan for the drug supply industry. The compa- nies involved, which it was said have seiling power of $100,000,000, are ex- pected to be increased to 50, covering every important trading territory in the country. Capitalization of the proposed groun may reach $300,000,000, it is said. Under the plan, retailers will have a choice in the management and conduct of the suoply depots from which they get supplies and Mll not be required to make capital investment unless they wish to do so. Neither will they have to make deposits with the corporation in order to obtain their requirements at the lowest possible cost. s uovr:mufiflonns Seeurity.—Rate, Maturit; TLiberty Pirst 3tas June 16,1047 081452 “Liberty 1st con. 4%s June 15, 1947 101 5-32 “yberty Fourth s Oot. 18, 1838 101833 *U. 8. Govt. 4 Govt. 48 Dec 1. 195 8. Govt. 3%s 1936’ 08 Gov a2 i 12 190 1U; S. Govt. 3%s"June 15. 1943 SExempt from Federal normal iricome tax. {Exempt from Federal income tax both normal and surtay. TREASURY CEBTIFICATES (Reported by J. & W. Rt Seligman & Co) s Dec. 15. 1922 Dec; 15, 1921 Sturtevant Blowers For Burning Buckwheat Coal FRIES, BEALL & SHARP 734 19th St. NW. bringing to the young men and men of Washington and other cities in which CARTER'’S operate their own stores a clothes value embodying Style, Quality, Workmanship and Service, priced at enly $22.50, to give the utmost for your money! Beginning at (1) woolens bought in great quantities for cash direct from America’s Leading Mills—(2) styled, tailored and produced in our own fac- tories under our own personal management—(3) sold for cash only with the smallest single profit added to actual costs plus minimum overhead and sell- ing costs. CARTER’S CLOTHES ARE SOLD THROUGH OUR OWN STORES ONLY! DIRECT FROM THE MAKER TO THE WEARER! Only a policy of specialization involving continued improvements can make a Name and Price stand out among others COMPARE: CARTER’S 1341 F Street N.W. / new CA September 26 (#).—The Reicnsbank report as of September 23 shows the following changes in reichs- marke: Gold and bullion increased 25,1 673.000: reserve in foreign currencies decreased 3443,000: bills of exchange and cheques decreased 81.669,000: silver and other coin increased 7.059.000; notes on other banks increased 2,83 000; advances decreased 35,158,000; in- vestments decreased 11,000: other as- sets increased 7.335.000: notes in circu- lation decreased 156,312,000: other ma=- turing obligations increased 77.015,000; other liabilities increased 2.421.000. Total gold holdings, 2.335,806,000. Rate of discount, 7 per cent. SILVER QUOTATIONS. NEW YORK. September 2§ (/P).— Bar silver, 57; Mexican dollars, 43's. LACE Curtains Ctheroughly cleaned and returned lo Jou in their etis t Atlantic 23, in charge of our personal scrvice department AL All your clothes washed, dried, starched if needed —table and bed linens nicely ironed— Eight Cents a pound plus one cent each for handkerchiefs Phone Main 2321 West End Laundry Lpwnderers and Dry Clesmers 1723-25 Pennsyiventa Ave-NW SUITS—TOPCOATS—OVERCOATS—TUXEDOS, Including Silk Vests A Price Study our win- dow displays—if it’s TER’S will show it first! ALL AT $22.50. Stores in Principal Cities—Washington, Philadelphis, New York, Springfield, Buffalo, _flin‘hm(on. Erie, Wilkes Barre, Dayton, Grand Rapids