Evening Star Newspaper, September 27, 1928, Page 14

FINANCIAL. EXPERIENCE CONSTRUCTION LoANs Mortgage Loan Department SHANNON &,’ :[AUCHS, Inc. 1435 K St.,N.W. Phone: Maio 2345 Prompt Decisions on Mortgage Loans THIS company’s large capital resources make possible prompt decisions, prompt settle- ments and reasonable rates on first mortgage loans for buying or building in virtually any amount consistent with “sound security, ‘Without obligation on your part we shall be pleased to send“~you further information. In fequest- ing it please give the amount of the loan desired, together with a brief description and approxi mate valuation of the property. RLEALLSTATE . MORTGAGE & GUARANTY CoRrPORATION Capital Resources § 3,400,000 26 JACKSON PLACE EFURNISHING YOUR OFFICE o Don’t be satisfied with a casual choice of furniture when you redecorate your office & This is the time to give it real character— such character as you will find in THE W. D. CAMPBELL COM- PANY matched suites. You owe it to your office to see our complete display of office and library furniture. CAMPBELL COMPANY Two Entrances 1018 15th St. N.W. 1506 L St. N.W. Franklin 5660 Unconditionally Guaranteed Tneured Mortgage Bonds of the Federal Security and Mortgage Company embody all desirable safeguards for the protection of the investor’s principal. Secured by mortgages on con- ely appraised owner- d _homes of the District of Columbia, they are the direct obligations of the Company with resources of over $£1,000.000. Independertly trusteed by a large National Bank and with underlying collateral uncondi- tionally guaranteed by the Eduitable Casualty and Surety Comp: of New York. with capital, surplus and reserves of over $3.500.000, under the super- vision of the New York State Insurance Department, they pre- sent an nnusual investment with a liber vield of 6%% met. Maturities 2 to 10 years, Descriptive Cire on Request ‘Federal Security ¢ Mortgage Co. 1522 K Strect N.W. Please send me your circular on Insured Morigage Bonds. Name .. eAddress... THE EVENING STAR. WASHINGTON, 'D. €. THURSDAY. SEPTEMBER POTONAC ELECTRIC LISTS AUGUST GAIY |Reports Net Income of $242,692—Bank Elects Three Mew Directors. BY EDWARD C. STONE. According to the monthly report filed ! with the Public Utilities Commission today, the August net income of the | Potomac Elect ic Power Co. amounted t in n with $183,721.36 in th same month in or an of $58.970.87 corporation reported g 0SS ecarnings operatior 44121, $621,081 e c r tion was heavier, being $333,652.01, | | compared with V. Whit $314,003.73 a year | Georse w. white. S314003.73 A o of $19,648.28. After deduction of e: penses the company had a gross income from operations of $364,789.20, against | $307.077.60 in August, 1927, an increase |of 11.60. | Summary of earnings for the first eight months of the income from operations of $6,105.428.: compared with 42,805.08 last year, or a gain of $562, ‘Total operat- ing expenses were §2 381.93, against sponding eight months last year, an advance of $15%,- 543.09. After the usual expense deductions, the company had a net income from operations of $3,488,046.49, $3,080,056.24 last year, or an inc of $407,990.25. After all other deduc- tions the corporations had a total net income for the period of $2,368.278.67 in comparison with $1,907,390.79, crease in net so far this year of $4i 887.78. W. R. & E. Report Also Filed. The Washington Rail & Electric Co. also filed its report with the Public Utilities Commission today. This report also contained a summary of earnings for the first eight months of the year. Deduction of all expenses left with the street railway company with a total net income for the eight months of $1,204,- 582.36, against $1,088,359.34 in the cor- responding period of last year. This is a gain of $116,223.02 so far in 1928. Operating expenses for the eight months amounted to $23,835,697.99, jagainst’ $3,904,566.02 a ago. Operating expenses and taxes were $3,- 161,089.32, against $3,253,086.51. By taking the expenses and taxes from the operating income, the company was left with a net from operations of $674,608.- 67, against $651,479.51 last year. The corporation’s operating expenses in August amount to $434,286.31, against $443,083.56, while operating expenses totaled $386,479.92, compared Wwith $388,835.77, leaving a net income for the month from operations of $47,806.30, against $54,247.79 in August, 1927. Three New Directors Elected. At the annual meeting of the Bank of Commerce & Savings, held this fore- noon in Alexandria, three new mem- bers were elected to the board. Those named were Vernon Owens, E. T. Chewning and J. F. Maury, all widely | known Washington business men. The complete board chosen today follows: Maurice D. Rosenberg, Joseph San- ders, William A. Bennett, Irvin Ow- ings, John M. Riordon, Joseph H. M lans, Dr. Clarence A. Weaver, Alexan- der Wolf, Louis Bush, Floyd E. Davis, Elie Sheetz, A. S. Gatley, M. A. Leese, A. Brylawski, C. E. Edwards, Harry E. Mayor, R. L. Elliott, G. A. Kneessi, Sol | Lansburgh, Vernon Owens, E. T. Chew- | ning, James E. Collifiower and J. F. | xecutive vice president, John M. Riordon, reported that a substantial in- crease in assets of the bank had been made during the past year. He said the bank had grown in every depart- ment. The officers for the coming year will | be elected at the regular meeting of the board of directors in November. { Maurice D. Rosenberg has been presi- | dent of the institution ever since its organization. Bank President Nearly 20 Years. George W. White, president of the National Metropolitan - Bank, is now rounding out 20 years as head of this venerable institution, having been placed at the helm in January, 1909. From 1885 to 1904 Mr. White had been with the same bank, passiig through every important position. In 1904 he became one of the organizers of the Commercial National, also being cashier and vice president during the term of service which continued until his election to his present_post. Mr, White is considered one of the ablest bankers in the National Capital. In addition to his duties at,the bank, he is president of the Potomac Insur- ance Co., treasurer of the American Peace Society and of the American Automobile Association, member of the New York Avenue Presbyterian Church, | Emergency Hospital Board, ~Chevy Chase, Columbia Country and City Clubs, as well as of the University and Metropolitan Clubs. He is on the board of directors of the Lanston Monotype Co. and of the Park Savings Bank. The bank he heads is 114 years old, its only rivals in the city in point of age being the National Bank of Washington and the Farmers & Mechanics’ National of Georgetown. Washington Gas Active Today. One hundred shares of Washington Gas Light stock sold on the local Stock Exchange today at 100. Ten more sold | at 101. The remainder of the market was broad and active. Sanitary Grocery was lower today, selling under 142, foliowing the an- nouncement of a probable merger with Safeway Stores. The only bank stock out was American Security & Trust, which changed hands at 460. Railway preferred sold at par, Mergenthaler at 100’2 and other stocks around recent levels. Bonds got their full share of attention. Xce Report Arouses Interest. The many local holders of Amer- ican Ice Co. stock are greatly interested in the report that the company will common this year. It New York that an exira cash dividend of §1 at least may be declared at the December meeting. Action is ecxpected shortly on the proposed co ation with Atlantic Ice & Coal Co. of Atlanta, Ga. Upon the return of several directors a plan embodying 2n exchange of stock may be worked out. The give American Ice and distributing facilities in Georgia, Alabama, Florida and Tennessce. Teported in | | NEW YORK, Scptember 27 (#).— Stocks_irregul 2 to 5 points. Bonds quict; coppers foreign issues firmer, Forcign ; sterling and_francs at d! a hetter spot_de- Sugar stead: i ; lower Brazilian Coilee eas AGO.- impraved demand. ; b h 3 1o 3 | Am Hom probably earn from $4.50 to $5 oy the | C ; investment rails rise | | | Abitib Power (4 Abitibi Po pf(6) | Abrahm&Straus Adv Rumley. Adv Rumley pf. | Ahu ad. | Air Redetn (13). Ajax Rubber,.. Alaska Junea... | Albany Papr | Allied Chem.... Amal Leather. . { Ameradai2). | am Agricul Chm | Am Agri Ch pf.. Am Bank N(13). | 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). | Am Can pf( lAmCar&Fdy (6) Am Chain pf(7). ,m] Am Chicle(3) AmChie pr pf(7) Am Hide & L pf. Pr3) Am Jce(1213) Am Ice pr(6). .. Am Internatl(2) Am LaFr&Foam Am Linseed Am Locomot(8) Am Metals(3).. Am Piano. . Am Piano pf Am P & L(11) Am Radiator(5) Am Republic. Am Sugar Am Sug, A Am Tel & Tel(y) Am Tobacco(8). Am TobaccoB (8 Am TypeFo(8). Am ] (7). Am Woolen pt. Am Writ Pa ctfs Am Wr Pa pf cfs Anaconda (4)... reh-Dan pf(7) ArmourDel pf(7 Armour, 111(A). Armour, I11(B). Armour, 11l pf(7) Arnold Con & Co Art Metal(1%). Asso Dry G(2% Asso 0il(2). Atchisoa(10). Atchison pf(5). Atl Coast L(110) Atl Gulf & W1 Atl Gulf pf(3) Atl Refining(4) AtlasPowder(4) Atlas Pow pf(6) Atlas Tack Austin-Nichols. Austin-Nich pf. Aus Cred(4.49). Balto & 0(6) Balto & O pf( Bambgr pf(613) Bang & Ar(3%) BankofMan(16) Barker Bros(2). Barnsdall A.... Beachnut(t3 Eelding-Hemwy Belg N R pf(16). Best & Co(3)... Bethlehem Steel Beth Steel pf(7) Bloomingdale. . Bimingdle pf(7) Bon Ami A4).. Booth Fjsheries. Borden Milk(6). Briggs MfgFCo. Dritish Empire. Brockwy Mot(4) Bklyn-Man(4). . Bklyn-Man pf(6) BklynUnGas(5) Brunswick B(3) Brunswick Ter. Bueyrus(1).... Bueyrusevi2ig) Burns BrosA (8) Burns Bros(B). Burroughs(t4). Bush Term(g2) . Bush Ter de(7). Butte Cop & Z. Butte & Sup(2). Butterick Co. Byer & Co. Calif Packg(4).. Callahan Zinc. .. Calumet&Ar(6). Calu & Hecla(2) Can Dry (1432). Can Pacific(10). Cannon Mills. .. Case Threshg (6) Cent Alloy(2).. Cen Ry NJ (1 Century Rib M. . Cerro de Pas(5) Certain-Teed(4) Chandler-Clev. . Chandler-Ci pf. Ches & Ohlo(10) C&O Corpn(3). Chi & Alton. Chi & Alton pf. Chi & East 11l pf Chi Great West. Chi Gt West pf. Chi Ml & St P., Chi Mil & StP pt Ch: & Nwn(4).. Chi&Nwn pf(7). Chi Pne Tool (6) Chi R1&Pac(6). Chickasha (3) Childs(2.40) Chile Co(23). .. Chrysler(3) Clev&Pitts(21:) Cluett-Peab(5). Coca-Cola(6). .. Collins & Aikmn Col & Ak pf(7). Col Fuel & lron. Col Sou 2d pf(4) Col Gas & 1(5) Col G&E pfA(6) Col Carbon(4).. Com Cred(1)... Com Cr pf B(2). ComInvTr(3 60) Com Inv (war).. Com In Tr pt 6% Com Solvents(8) Com Powr(13).. Com Powr rts. .. Congoleum-Nair Cong Cgrs (16). niey Tinfoil. . Consol Cgrs(7). Con Film pf(2). Consol Gas(5).. Cont Insure6). . Cont Mot (80¢) . Corn Pro(is% ). Coty Inc(g5)... Crex Carpet. baCaneSugar Cuba Cane Su pf | Cuba Company. ban Am (1) ban Am pf(7) Cudahy Pkg(4). Curtiss Aeroc1) | Curtiss Aerorts “ushmann pf(7) Cutir-Ham (3% ) Davison Chem .. | ehenhms2 183 Desre& Co pfi1) Lei & Hud(y). . 3 Open, 854 1001 3% 81 10% 104 343 4l% 14% 50% . 106 140 111 1(!:5 6814 180t 10% 864 40 48% 191% 1037% 1607 49% 55% 185 814 104 12% 347w 61 118% 78 29% 83% 641 118 41 109 T3n 55% % 614 1% 90 168% 56k 41 34% 4 116% 36% 114 43% 125 7% 3% 115% Sdh €015 220 4T 356 42% 312 9974 251 18315 674 124, 12% 18% 604 167% 971 2 25 117 T 85% 15% 8ok 20 9 1% 141 91 136 59 63 40 124 198 High. Low. Close. | 55% B9 109% 107 617 5T% R4 61 6 3 A% 3% 814 S0 10%% 9w Pt o 2478 196 108 520 54l 88% 89 3% 801y 9 1% 2414 192% 104 34% 413 141y 50% 107% 105 140 140 9115 7y 150% 150 51 501 16 16 53 8414 107 68Y% 116% 116% 110 19% 104 9% 87 86l 40 39% 297% 29 484 48 484 48% 193% 190% 104 1033 161 16t 49% 47 55% 554 187% 179 81% 81% 104 10. 12% 12% 8 6% 35% 347% 6L 61 115 29% 350 18% % 14 284% 33% 17% 83% 65% 65 118 118 41 1 109t 109% 3% T3% 9 162 55'% 53% 5% 5% 2 0% T4 T0% 0% 90 168% 168% 563 51l 4215 40 34% 33% 45 44w 116% 116% 36% 1% 10% 43% 43 130 123 8% T8 3% 3% 115% 112% 34% 33l 80t 791 221% 2175 4T 4TH 363% 351 424 40 312 312 12 121 99% 40 Y i Y 22% 185% 183 69 67% 11k 17% 6015 14' 337% 26% 52 8415 138 18% 63% 5lt 50% 53 5l 167% 64 9% LI8% 1141 17% 17 95 95 213% 210 86% 85 1% 2815 995 9% 86 6% 83 118% 1% 0% 145'% 138% 9y BY% 136 135 135t 59 584 63 60 40% 40 124 124 124 208 1935 19314 I DeIL & W(iT).. 1 | Derroft Ea8) | Devoe A (13.20). Diamond M(19). Dodge Bros A. . | Dodge Bros pf 7 | Dome Mines(1). Drug Inc4).... Dul §§ & Atlan Dul'S S & Atl pf. Dunhill Int(4).. Dupont(t13.50) Durham Hos pf. Eastman(18)... Eastman pf(7). Eitingn pf(6%) Elec Auto L(4). Electric Boat. .. ElecPow&Lt(1) Elec Stor Bat(5) Elk Horn. : End-John (5 Engineers Pub S Eng Pu S pf(5). Euuit Bldg (2).. Erie R R Erfe Ist pf... Eureka V(11%). Falrbanks Co pt Kairbanks3)... FairbankMpf (7) ed Light pf(6) Federal M & Sm I'ed MotT(f80c) Fidelity-Phoenx Fifth Ave(6dc). First NatS(1%) Fisk Rubber. ... Fisk 1st pf(7).. Fletschmann(3) Florsheim (A).. Florsheim pf(6) Fox Film A(4).. Freeport (161). Gabriel Snub A, Gardner Motor. . Gen Am Tnk(4) Gen Asphalt Gen Cable: . Gen Cable A(4). Gen Cizars(4).. Gen Ilec(f5). .. GenElec sp(60c) Gen Gas pf A(7) Gen G & 11 A(8) Gen Ice Crm(3). Gen Motors(17). j 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)... Gold Dust (rts), Goodrich(4) Goodyear Tire Goodyr1st pf(7) Gotham($23%).. Gotham n(32%) Gould Coupler A Graham-Paige. . Grhm-Paige cfs. Granby Min(4). Grand Union.... Grand Un pf (3) Grant W T (1).. Graselli (2.68).. Grt North pf(5) Gt Nor pf efs(5) Grt Nor O(1%). Grt Wn Sug 2.80 Greene Cana(4). Guantanamo Su. Guan Sug pf(8). Gulf Mo & Nor., Gulf States Stl.. Hacknsk W(1%) Hack pf A(1%). Hanna 1st Df. .. Hartmn B(1.20). Hershey Corp... Hershey pf(4) Hoe & Co A. Hoe & Co rights. Houshold(14). Houston Ofl. Howe Sound(4). Hud Man(2%) Hudson Mot(5). Hupp Mot (£2).. llinots Cen(7).. Ind Oil (13).... Indian Mot(1%;) Indian Mot pf(7) Indian Refining. Indian Refg ctfs Ingersoll R(¥5). Inland S(k16%). Inspiration Cop. InterboroRapTr InterconRubber Internat Agri. .. Int Ag Ch pf (7). Int Bus Ma(5) Int Cement(4) Int Com Eng(2 Int Harv(j6) Int Harv pf(7). Int Mteh pf 3.20 Int Mer Marine. Int Mer Mar pf.. Int Nickel (3)... int Paper(240). Int Paper pf(7) IntPap cfs(2.40) In Pap pt cfs(7) Int Prig Ink 2%, Int Ry Cent Am. Int Ry CA pt(5) 18t Salt(5). ... Intl Silver pf(7) Int Tel & Tel(6) Intertype (1115) Istand Creek(4). Jewel Tea(4). Johns-Manv (3) Jordan Motor. .. Jordan Mot rts. . Kan City South. Kaufman Dep §. Kayser J (5) IKeith-Albes. Keith-Al pf(7).. Kelly-Spring. .. Kelly Tire 6%pf Kelly Tire 8% pf Kels Hayes(2).. Kelvinator Corp ISennecott (6).. Kinney (G R). Kinney pf (7 Kolster Radio. Kraft(gl) Kresge(11.60) Kresge Dept S.. Kress (S H)(1). Kroger Gro(el). LagoOil.. Leh Por Cmt 2 % LehighVal(31g) Lehn & Fink(3). Lite Sav(1.60).. Lig Myers(15).. Lig & Myrs B 15 Lima Locomtve., Liq Carb(3.60). . Loew's(13)..... Loew's pf(6%). Tote....... Long-Bell(A) Loose-W(1.60). Loose-W 1st(7). Lorillard Co. ... Lorillard pf(7). Louisiana Oil. .. LoulisGasA (175 Louis & Nash (1) Ludlum Sti(2).. McAndrews 2.60 MeCall Corp(3). McCrory A(2) McCrory B(2).. McKeespt Tin P) Mack Truck(6). Mackay pt(4) Macy Co (2) Mad Sq Gar (2 Magma Cop(3).. Mallison & Co. .. Mallison pf(7).. Man Elec Suply. Man El m2g(d3) Man Shirt(2).. Maracaibo Oil Marland Oil. ... Marlin-R(13%). Marun-Parry... Mathieson(6) May Dept S(4 Maytag(13) Maytag pf (3 Maytag 1st pf Melville Shoe. .. Mengel Co.... .. MetroG pf(189) Mexican Seab, . to The Star Office. Low. 132 Close. 132 6414 T8 21% 114 116% i 861y | Minn & St L & AMid-Continent AMiddle States Mid States etf: Aliller Rubber. . ouls St Mo K&Tex pf(7) Missouri Pacific Missourt Pac pf. Mohwk Ca Montgmry W (75 Moon Motor. Mother Lo(30¢c). Motor Meter A.. Motor Prod (2). Motor Whl(2).. Mullins Mfg Murray Corp sh Motrs(16) at Bisc pf(7).. t Cash R A(3) Enamel & S Nat Lead(5) Nat Pow&Lt Nat Radiator. Nat Ry Mex 2d. Nat Supply (16). NatSupply pf(7) at Surety(10). Nat Tea(4).. Nevada C(1%4). N Y Air Br(3).. N ¥ Central(8). N Y C&StL(6). NY NH & H (2). N'Y NH&H pf(7 N Y Ont& Westn Norfolk South. . NorAm b10% stl North Am pf(3) NorAm Ed pf(7) orth Pac (5).. Nor Pac efs(5).. Norwalk Tire. Oil Well Supply. 2 1 Oil Well S pt Omnibus. . Otis Blev (7). Otis Steel. .. Otis Stl pr pf(7) Owens Bot(ct4) Pacific Gas(2).. Pacifie Li Facific Mill Pac Ol Stubs... Pac Tel & T(T). Packard Mo(i4). Pan-Am Petrolm Pan-Amer Pet B Pan-Am Wn B.. Panhandle..... Parmt-Fm(j8) Paramount (n).. Park & Til (13). Park Utah(80c). Pathe Ex. . Pathe Ex(A) Patino M(2.92).. Peerless Motor. Penick & Ford.. Penn Dixie Cmt. Penn RR (3%4). People’s Gas(8). Peoria & East. Pere Marq(18).. Phila Co pf(214) Phila Co pt (3).. Phila& RC& .. Phil Morris(1) PhillipsPet (1% Pierce-Ar (A).. Pierce-Ar pr (n) Pierce Oil..i... Pierce Ol pf.. Pierce Petrolm. Pillsbury (12.10) Pillsbry pf(61%) Pitts Coal. Pitts&WVa PortoRicoTobA. PortoRIcoTobR. Postal T&C pf 7. Postum (3) Pressed Stl Car. Pr St Car pf(7) Produ & Refinrs Producers&R pt Pub Serv NJ(2) Pub Serv pf(6). Pub SE&G pf(6) Puliman Co(4) Punta Aleg Sug. Pure Oil (50¢)., Purity Bak(3) Radio Corp..... Reading Ry (4). Reading 2d(2) Real Silk Hos. Real Silk pf(7). Reis (R) & Co.. Reis 1st pt (7)., Kemingtn-Rand Rem-Rd 1st(7). Reo Mot (113). Rep 1 & S(4)., Reynolds Spngs. ReynldsTobB(5) Richfield Of1(2). Rossia Ins(5) Royal D(a3.222 St Jos Lead(13). StL & SanF(18) StL&SF 2d pd(6) | StL&Southwest. Savage Arms.2) Schulte (j3% Seab Air Line... Seab Air L pf... Seagrave(el.20) Sears Roe(32%) Seneca Copper. , Shattuck FG(2) Shell T&Ta! 5 Shell Un(1.40).. Shubert The(5). Simmons Co(3 Simms Pete, Sinciair Ol Sinclair pf(8). Skelly O11(2) ‘Smder 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) SouRyM&Oe! Spang Chalfnt. . Spear & Co.. Spicer Mfg Spiegel Co (3) Std Com To Std G Std Milling(5).. Std O Cal(z) StOINJ (71 StdOINY (1.60 Std Plate Glas St P Glass pf.. StdsanPro(1.68) Stanley Co . Stewart-War(6) Strom Car(2)... Studebaker(5).. Studebak pf(7). Submarine Boat. Sun Oil(n1). Superior Oil. Superior Steel veets of Amer. Symington Cl A. Telautozh(30c). Tenn Copper(1). Texas Corpn(3). Texas Gulf Sul(¢ Texas & Pac(b). Tex Pac C & Oil. Tex Ld Tr(new) The Fair(2.40). 'hird Avenue. . Tidewater AsOll TidWASOLIDL(6) Tidewater Oil 80 Tide W Oil pf(5) Timken(15). ... “Tobac Prod (8). Tobac Prod A(7) ‘Tob Prod cfs(A) Tob Prod ctfs B Lranscont Oll.. Trico Prod(2%) Uawd EI #(4).. Un Bag&Paper. Union Carb(6) Un Oil Cal(2). Union Pac(10).., Union Tank(5). Utd Biscuit 1 60 Utd Cigar St(1). Utd Fruit(15%) 25% | Utd Paperboard 30 U S Distributing NEW YORK STOCK EXCHANGE Received by Private Wire Direct . High. Low. Cl 3 1001, 10174 9914 196 11 484, 27% 1347 20 16% 52l 100t 1007 98% 5% 28 1013 ose. | 234, 1928." 27, U.S. STEEL REACHES NEW REGORD PRICE Strength Allays Fears of Break in Market and Steadies Trading. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 27.— After a forenoon session in which practically the entire industrial section was called upon to absorb heavy realizing sales. the buying side once more obtained the upper hand in the Stock Exchangc today. When it appeared as if the selling was to get out of hand United States Steel was again brought forward in an effort to maintain public confidence. Crossing 16115 in midafternoon, Steei went to its highest in history and its action again allayed fears of a wid open break in the market generally. Rails Follow Steel. Closely following United States Steel were railway stocks. Sharp advances were recorded in St. Louis Southwest- ern, which reached its highest on record, up almost 5 points: in Reading, Rock Island, Texas & Pacific, Missouri- Kansas-Texas, Kansas City Southern and many others. Throughout the forenoon trading in- dications were that the speculative element for the first time in several weeks was to ignore the declining tendency of call funds. When call money dropped to 6 per cent the rally became pronounced, were many issues which were still feel- ing the effect of profit-taking. More significance attached to the de- sire on the part of the speculative element to liquidate long holdings in view of favorable developments in the outside situation. Increased industrial earnings, larger freight car loadings in- dicating continued improvement in in- dustrial activity and the prospect of shipments of gold from both England and the Argentine were factors which under ordinary stock market condi- tions should have had their reflection in_rising prices. % But the list as a whole was thought to be entitled to a technical setback. As a group the metal stocks were 514 | subjected to heavy realizing and at one stage Cerro de Pasco was down over 2 points, American Smelting, a_like {amount and Green Cananea and Calu- | met & Arizona a point or more. Oils Disappoint. In view of their current selling level and widely circulated rumors of pend- ing mergers among a number of promi- nent oil companies, the market tor the stocks concerned acted disappointingly Large blocks of Pan-American issue: made their appearance on the tape at the outset, but the improvement which occurred in the first hour was not maintained. Sinclair Consolidated be- low 30 was down more than a point. Atlantic Refining and Houston Oil felt the effect of realizing sales at interva! General Motors suffered to some cx- tent with other prominent industiials. Packard, Hudson and Chrysler held fairly steady, but there was not the ur- gent demand in evidence that charac- terized the market for these stock: earlier in the week. Murray Corpora- tion shares, which were bid up violert!y recently, lost several points, but later rallied. Profit-Taking Sweeps List. Prices moved with a good deal of ir regularity at the opening today. and losses were about evenly Shortly after the opening a wave of profit taking swept over the general in- dustrial list. Despite the encouragir; reports of freight carloadings, indica:- ing improvement in industrial activity the market was thought to be entitled to a technical reaction. Call money renewed at 6!> per cent the lowest since August 20, but the credit situation was not so much a factor in speculative calculations as to the immediate future price trend. Ef- forts to sustain the market for Unite:! States Steel were successful, but Gen- eral Motors with the course of the fi: hour was a point lower. Most of t independent motors reacted sympa- thetically, and such recently favored coppers as Anaconda, Cerro de Pasco and Greene Cananea were down rath sharply. Wright Aero lost over 3 points and Union Carbide almost 2. S Alcohol(5) . IndAlf pf(7) Leather. Leather A. . Lea pr pf(7) Realty(4).. S Rubber Rub 1st pf. Smelt (3%). S Steel(7). ... U S Steel pf(7). Unt Leaf Tob(3) Unti Pic 1st pf(8) Univ Pipe & Rad Util P&L Ace2). vanadtum(t4) Van Raalte. Vick Cheni(4).. Victor Talkz(4) Victor pr pf(7). Va-Caro Chem. . Va-Car Ch pf(3) Vivaudou Co. . .. Vivaudou pf(7). Vulecan Detin... Vulcan Detin(A) wabash........ Wabash pf A(5) Wabash B(5)... Waldorf(1%).. Walworth(1.20) Ward CLA(8). .. ward Baking B. Ward Bak pf(7) Warner Bros Pic Warner PicA... Warner-Qu(2).. Warren Bros(4) Warren F&Pipe. W Penn EI pf(6) W Penn El pf(7) West P Po pf(7) West DalryA (4) West Dairy B.. West Maryland. West Md 2d pf. West Pacific. West Union(8). Westhse A B(2) Westinghse(4). Westhse Ist(4). Weston Electric Weston A(2)... White Eagle(2). White Motors(1 White Roek(2) . White Sew Mach Willys-Ov(1.20) Wilson & Co. Wilson Co pf Wilson & Co pf Woolworth(5). Worthn Pump. . Worth Pump(A) Worth Pump(B) Wright Aero(2) 1691 Wrigley(15%).. 173 Yale&Twne(15) 69 Yellow Truck... 40% 40% 39 39 Younustn Sh(5) 94's 94 9244 u: Hourly Sales on N. Y. Market. 11 am. 00 12 10001,495,500 loam.. 2126000 2 v 2,791,400 Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or hall-yearly declarations * Unit of trading iess than 100 shares. 1 Partly extra, : Plus 4% in stock. & Plus 33 in preferred stock. 1 Plus 1/25 in stoc & Paid this year—no regular rate. b Pa e 1n stock. c Plus 5% in stock. d Pa able When earned, e Pavable in cash or £ Plus_10% in stock. & Plus 60- i Plus 20 in auarterly in 1/10 share auarterly in tores common stock. R Plus | cccageacace wnunannn 4 1491 450 106 106 47 161 2% 69% 68 69Y m Payable %% in stock. o YOUNGSTOWN, Ohio, September 27. —Better demand from the oil market although there | FINANCTAL.™ ' Road Weathers Storm. NEW YORK, September 27 (#).—L. R. Powell, jr, president of Seaboard Air Line, just back from Florida, says the damage to the road's track was slight and none to trestles or bridges. Several stations in the storm area were slightly damaged, which was covered hy 1surance. The financial loss was neg- ligible. New York Bank Clearings. NEW_ YORK, Sept-mbsr 27 (Spe- cial). —New York ban': $1,372,000,000; a year ,000,: 000. New York bank o today $115,000,000; a year $101,000,000 New York Federal Rescrve balances to- day, $108,000,000: a vear ago, $84.000,- 000. Boston bank clearings today $83,000,000. New Haven Surplus Up. NEW YORK, September 27 (#).—Sur- plus of the New York, New Haven & Hartford for eight months of 1928 after guarantees and preferred dividend re- quirements was $4,559,053 against $4,- 251,846 a year ago. August surplus was $1.857,735 after charges, against $1,- 328,007 in August last year. We Write All Kinds ot INSURANCE WILSON REALTY CO., INC. 1036-38 National Press Bldr. Main 7432 and 7413 SAFE FIR'ST MORTGAGES SAFETY IN MIDDLE AGE Middle age cannot afford to take chances. Hard-earned dollars, invested in middle age, must be surrounded by safety and certified for in- come returns. Our Over a Third i oila 6% FIRST MORTGAGES Century —meet conservative require- ments at every point. They vield a good income and the principal is *held intact. ! Without a Loss Available in Amounts | of $250 and Upward | B. F. SAUL CO. Main 2100 925 15th St. N.W. | THERE IS NO SUBSTITUTE FOR SAFETY e W}Z TAKE PLEASURE IN ANNOUNCING ! . THAT | MR. RICHART P. DAVIDSON MR. VALLACZ T. DUNCAN MR.BENJAMIN J. MILLS Washington .0 MR. CHARLES 1. SYMINGTON Ba'timore .0 MR. WADZ HA!"PTON BALLARD Clarksburg .0 MR. JESSZ L. WIIITTIN Wilmington HAVE BECOME ASSOCIATED WITH US J- A Igiéhart & Co. Invesiment Bankers 719 FIFTEENTH ST., WASHINGION, D. C. 3AITIMORE MD. WILXES BARRE F.* WILMINGTON DEL. CLARKSBURG, W' V% RICIIMOND, VA, Members Baltimore Stock Fxchange Associate Members New York Curb 0,000 ge[ 1915 d lgze&?epnltel s ServiceCommonSrock IN THE last 18 years, owners of Cities Service Common stock have been paid 191 dividends totaling more than $98,000,000 in cash and securities. At its present price this strong security gives you a net yield on your money of about 7%%. Gas plant and holder of Pueblo Gas & Fuel Com- pany, Pueblo,Colo., an important pub- lic utihity subsidiary of Cities Service He: & Southern Blds. snancuse CLIP AND MAIL THE COUPON e e HEN™Y L. DOHERTY & CC Southern Blds.. Wash.. D. C. Please send me full infor- mation about Cities Service Common stock and the $800.000.000 o r % a n ization ! Name. for line pipe is continuing this week to make itself felt in the steel industry. Operations of pipe mills in this district were increased this week to 15, behind it.