Evening Star Newspaper, September 28, 1928, Page 14

THE 28, 1928. FINANCTAL. LOANS [0.C.BANKERSWAT' [ NEW YORK STOCK EXCHANGE Let us have your applications ||| ENTION S]_AR _f Open. High. Low. Close. | Open. High. Low. Close. H Ope 1 5 54 54'3 | Dupont(1]3.50) 391 392 337 390 Nash & Chat(7). ‘» GUNV .l. Abitibi Power (4 55% b54% o 1 R | —_— - EVENING STAR, WASHINGTON, D. C, FRIDAY, SEPTEMBER DD BEARS HOLD SWAY |1 secnd trust ot desirably secured on im- proved property in the District of Columbia. Mortgages Investments JAMES Y. PENNEBAKER Main 5328 1520 K St. N.W. for LOANS ON REAL ADitibi Po pf(6) 89 894 894 Du Pont deb(6). Nat Acme (sta). ESTATE ; : 1 e e e . 4 Abrahm&Straus 108 %| sastman(18)... 178 178 178 178 |Nat Bel s e Enton Axle(z oD STh S| Nt Cash A a8rs Courteous Treatment 33 B 324 Nat Dairyin)... 104 4 1 | Nat Dept Stores 2514 Nat Distillers... 414 Nat Enamel &S 44 ! Adams Exp (6).. 335 | iRepresentative Delegation to 3% Rumiey si: o5 facterlt || Attend—Local Stocks End : Percy H. Russell Co. || R 1731 K St. NW. | Week With Prices Firm. We Write All Kinds of INSURANCE WILSON REALTY CO., INC. 1 Press Blds. 32 and 7413 Eisenlohr&Bro. [Eitingn pf(6). Glec Auto L(4). Electric Boat... ElecPow&Lt(1) Elec Stor Bat(5) Elk Horn....... £nd-John(5). .. Engineers Pub § Eng Pu S pf(5). Equit Bldg (2) Erie R R. Eight Per Cent Money Rate and Calling of Loans Nip y Nat Lead pfA(7) 1421 Prompt Attention to N Y & Harim(3) 270 2 2l Late Rally. | P 124 12 2 | Applications Nat Radiatoroor. 160 Nat Radiator pf. Nat Ry Mex Ist. Rt Nat Supply(16). Our record of 35 years speaks Air Redetn (13) Ajax Rubber. Alaska Junea. .. Albany Papr(2) Allied Chem. .. 122 12! o . Allis-Chalm (7). 132% 1324 150% L NURE | Amal Leather... - 104 10% 10 : Local bankers are ready for the big | Amerada(2).... 324 32w 31% event of the banking year, the annual | &m Agricul Chm ‘}':6 1_9:. 19 % Nat Surety(10). ||! convention of the American Bankers' K Am AgriChpf.. 68% 68% 67 Erie 24 pf. b < ||| Assoctation, "which ‘will get down to | Am Bank N(13). 1234 123% 123% Eureka V. 6 | business in Phila- Am Bt @ & & o |oawmoesce |delphia Monday. At ot 0 38% 89% 33w | Mairbanks(s) | The Capital will | Am Br Sht} il FairbankMpf(7) 110 send a representa- Am Brown Bov. 14 14 13% FedLight(h1.40) 53% [ et o Am Can(2)..... 106 107% 104% Pl || tho | e Fed Min pf(7).. | than the one which | AmCar&Fdy(6) 9513 96 94l ||/ was lured to the Am Chicle(3). .. Ked MotT (f80¢) 194 ||| West coast two 0 vears ago when the meeting was held BY GEORGE T. HUGHES. | Special Dispatch to The Star. NEW YORK, September 28.—Con- flicting price movements, with the sell- ing side predominating, characterized today's developments on the Stock Ex- change. Liquidation of recent specula- tive favorites was urgent at intervals and was encouraged by tfie lst.endy’ in- N | 3% crease in the rate on call loans from Y O P the renewal of 6 to 8 per cent for new N Y Stm pf(6).. 10 % 100% accommodations as the market entered Norf & Wn(t10) 215 181 181 | the last half hour. T i NorAm b10% st} 3% 3% 7% Adthough a fair sized rally from the North Am pf(3) 524 52% lows of the day took place in the last WE FINANCE —all classes of income-producing oroperty National Mortgage & Investment Corporation | 1004 Vermont Ave. N.W. Main 5833 Large Loans a Specialty Current Interest rate and commission Higbie & Richardson, Inc. 816 15th St. N.W. On Improved Property in Maryland and District of Columbia C & StL(6). C StL vf(6) NH & H (2). Am Encau(2.40) First NatS(1%) 47 Fisk Rubber.... Am & For Pow. . 4 Am&For Pr 2d 7 Fisk 1st pf(7).. Am Drug(80c) Fidelity-Phoenx h’g‘- Interest No Commission Charges WEAVER BROS | REALTORS 809 15th Street N.W. Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company REAL ESTATE LOANS 519, 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. Over a Third “)".'l';””uv" i We refer to your apart- ment. There’s no reason why it shouldn’t. And we can point you the way—if you call'us into conference —to increasingly satisfac- tory income. What we have done for other own- ers, we can do for you. B. F. SAUL CO. Main 2100 925 15th St. Money for Buying or Building 55% and 6% Come to"us"for Mortgage Loans on both business and residential property. Here you will find a staff of men who have spent their lives with real estate; Prompt decisions. Mortgage Loan Department SHANNON & LUCHS, Inc. 1435 K St. N.W. Phone: Main 2345 Public Service Corporation of New Jersey Dividend No. 85 on Con- Dividend No. 39 on 8% Cumulative Preferred Stock Dividend No. 23 on 7% Cumulative Preferred Stock Dividend No. 1 on $5.00 Cumulative Preferred Stock “The Board of Directors of Public Service Cornoration of New Jersey has declared divi- der « at the rate of 8% per annum on the §% Cu: slative Preferred Stock, being $2.00 per ehat at the rate of 7% per annum on the 7% Cur ‘ative Preferred Stock, being $1.75 per shar at the rate of $5.00 per annum on the non ¢ lue Cumulative Preferred Stock, being g 2 share; and S0 cents per share on the non i ommon Stock for the quarter ending ber 30, 1928. Dividends are payable Sept aber 29,1928, to stockholders of record at the ci<e of business September 1,1928. Dividends on 6% Cumulative Preferred Stock ‘are payable on the last day of each month. T. W. Van Middiesworth, Treasurer, in Los Angeles. Among the local | financiers who are planning to attend |are Francis G. Ad- son, jr, Security | Savings & Com- mercial; Victor B, | Deyber, Second Na- |ticnal;” Howard { Moran, American Security & Trust Co.; | Maurice Otterback, Anacostia Bank: Af wood M. Fisher, Chevy Chase Saving: R. Golden Donaldson, Commercial Na- tional: Wade H. Cooper, Miss Mary J. Winfree and Miss Marjorie I. Tucker, Continental Trust Co.; George i ‘White and C. F. Jacobsen, National Metropolitan; Robert V. Fleming, Wil- liam J. Flather and George O. Vass, Riggs National; Wilmer J. Waller, Fed- | eral-American National, and Charles B. | Lyddane, from the same bank. | Controller MclIntosh, Mr. Fleming. ' F. G. Awalt and W. J. Waller are pla ning to attend the dinner Sunday eve- ning for the Reserve City Bankers' As- sociation. This association always has a dinner at the A. B. A. meetings, al- though their own convention is in the Spring. The convention program promises to be one of the best in years for all the ; different divisions. Directors Vote Dividend. At a meeting of the board of direc- tors of the Lincoln Investment Corpo- ration, held at the offices of the com- {pany in the American Building on | Thursday, it was voted that the reg- | ular quarterly dividend on preferred stock outstanding be paid to stock- holders of record. The dividend is pay- able October 1. Charles J. Bell Gets Home. Charles J. Bell, chairman of the board of directors of the American Se- curity & Trust Co., reached Washing- ton last night after a Summer spent abroad, most of the time in Ireland. He was accompanied on the trip by Mrs. Bell and both report a delightful Summer. Good fishing added much to their pleasure on the trip. It was also the most carcfree Summer Mr. Bell has enjoyed in many years, due to his hav- ing turned the duties of the presidency Charles J. Bell. Thom. Mr. Bell was back at the bank this morning, where he received a rousing greeting from his associates. ‘Washington Gas Net Higher. ‘The monthly report of the Washing- ton Gas Light Co. filed with the Public Utilities Commission. shows net earn- ings of $12,982.13, a gain over August, 1927, of $2,676.94. For the first eight months of the present-year the gas company had a net income of $512,- 951.43, compared with $393,048.99 in the corresponding period in 1927. ‘The company’s operating revenues fwere $344,86145 in August, a gain of | $1,414.65 over the figure for August a_ year ago, and operating expenses fell to $245318.55, as against $261,- 679.92 in the same month last year. Taxes dropped from $36,987.97 in Au- gust, 1927, to $31,889.52 last month. |, Operating income climbed $22,538.71 to a total of $65529.12 for the month; non-operating income was $4,435.06, as compared with $1,339.53 in August of last year, and gross corporate income reached $69,964.18, as against $44,330.94 in the same month of 1927. Increased earnings over dividend requirements ‘were $26,017.87 for the month. Operating revenues for the eight months ended August 31 were $3,678,- 963.10, in comparison with $3,540,412.52 for the corresponding period of 1927; operating expenses were $2,432,505.70, as compared with $2,419,943.33 for the first eight months last year; taxes were | $283,467.56, as against $292,050.53 for the 1927 period; operating income was 13940,192,99, compared with $811,126.04 a year ago, and gross corporate income was $966,217.37, as against $821,350.96 last year. Georgetown Gas Earnings Gain. According to the monthly statement of the Georgetown Gas Co., filed at the office of the Public Utilities Commission, the net income for August amounted to $2,603.83, a gain of $211 over the same month in 1927. » Operating revenues were $49,873.56, a gain of $1,926.48 over figures for August a year ago; operating expenses were $40,717.65, an increase of $1,971.66, and operating income was $5,705.78, a de- crease of $473.07 under totals for Au- gust, 1927. The company reported a gross cor- porate income of $7,579.62 for the month, as compared with $7,143.77 re- ported a year ago. Taxes were $3,450.20, as against $3,022.24 last August. Net corporate income for the eight months ended August 31 amounted to $74,815.98, an increase of $12,883.05 over | the corresponding period of 1937. Op- erating revenues were $572.243.78, oper- ating expenses were $436,093.59, taxes were $33,861.26, operating income was $102,289.98 and gross corporate income $113,605.95. Local Securities Firm Today. Prices on the Washington Stock Ex- change ended the week's trading at firm levels today. Next week trading on Saturdays will be resumed. The largest volume of trading today was g Mergenthaler Linotype, 50 shares ‘changing hands. The stock opened at 100, and closed at 100%. Potomac Electric Power 6 per cent preferred sold at 113'3, and the 5'%5 per cent issue opened at 1087 and closed at 108%. Chestnut Farms Dairy registered 107. In the bond division Washington Gas 6s, series A, sold at 104!5, and the b issue at 105% on a small sale. George- town Gas 5s came out at 103!;. Other transactions included a $1,000 sale in | Capital Traction 5s at 1007, while Po- tomac Electric consolidated 55 moved at 1013, There were practically no changes in the unlisted department during the week. The list of stocks now selling ex-dividend is the longest it has been | | in many weeks. ‘ Heard in Financial District. > ‘The council of administration of the Public Service Electric and Gas Company Dividend No. 17 on 7% Cumulative Preferred Stock Dividend No. 15 on 6% Cumulative Preferred Stock The Board of Directors of Public Service Electricand Gas Company bas declared the regu- 1ar quarterly dividend on the 7% and 67 Pre- ferred Stock of that Company. Dividends are payable Septembér 29, 1928, Lo stockholders of Fecord at the close of business September 1, 1928, T.W. Van Middlesworth, Tr —_—— District Bankers’ Association will meet this afternoon at headquarters at 4 o'clock. The session will be given over largely to routine matters. The next regular meeting of the assoclation takes place on October 15. The Baltimore & Ohio has declared the regular quarterly dividends of $1.50 per_share on common and $1 on the preferred, both payable December 1 to stock of Tecord October 20. Frederick P. H. Siddons, secretary of the American Security & Trust Co., will deliver a lecture this evening at | Gallaudet College on the subject “What to Do With Your Money.” Miss Leona Anthony of the Federal- American National Bank has béen elecied secretary of the Washington ! Bank Women’s Club, succeeding Miss Catherine Krieg, who recently resigned. Dunhill lnt(4).. 59 59 57% 58 of the trust company over to Corcoran | Belg N R pf. Am&ForP pf(7) 107 107 Am Home Pr(3) 76 76 Am Ice(t2%)... 4314 Am Radiator(5) 152% 153 Am Republic... 7l% Tl% Am Saf Raz(t5). 70 7l% Am Ship & Com. 4% Am Shipbldg(8) 80's 80% Am Smelting(8) 245% 246 Am Stl Fdys(3). 6Th Am Stl Fy pf(7) 111 111 Am Sugar...... 744 Am Sumatra (3) Am Tel & Tel(9) Am Tobacco(8). 164 164 Am TypeFo(8). 118 118 AmWW&EI(cl). 6 AmWW1st pf(6) 9. Am Whise pf( 109 Am Woolen. 18% 18% Am Woolen pf.. 42 42 Am Writ Pactfs 14% 1o% Am Wr Pa pfefs 46% 47 4l 44n 9 96 Anaconda (4)... 8% 834 Archer-Dan(3). 804 80% Armour, I1I(A). 19% 19% Armour, III(B). 9% 10 Armour, 11 pf(7) 86% 861 ArnoldCon&Co 39 39 Art Metal(135). 29% 29% Asso Dry G(2% 45 484 Ass0 Oil(2)..... 48% 48% Atchison(10). Atl Coast L(110) 160% 161 AtlGult & WI.. 48 4874 AtlGulf p£(3).. b5% b5% Austin-Nichols. 7 Th Autostrap A(3). 44% 44 Balto& O pf(4). 78% 784 Bang & Ar(3%). T0% 7T0% Bang & Ar pf(7) 111 111 Barnsdall (A)... Barnsdall B, 334 33% Beacon Oil. 18 . B2 82% Best&Co(3)... 83 83 Bethlehem Steel 631 64% Beth Steel pf(7) 117! Bloomingdale. .. 40 Blumenthal pt. Bon Am1A(4). Booth Fisheries. Borden Milk(6). 162 Boston & Maine. 70 Briggs MfgFCo. 54% British Empire.. 5 Brockwy Mot (. 61% 64 Brockway pf(7) 125 125 Bklyn-Man(4).. 71% 72% Bklyn-Manpf(6) 90% 90% BrownShoe(2%) 49% 51 Brunswick B(3) b54% 55% Brunswick Ter., 424 4214 Bucyrus(1)..... 334 33l Bucyruscv(24) 45 45 Burns Bros(B). 36 Burroughs(t4). Bush Term(g2). Bush Ter de(7).. 108 ButteCop & Z... 8% Butte & Sup(2).. 10% 10% Byer & Co... By-Prod(12.75).. 76 6 Calif Packg(4).. 78 78 Callahan Zinc... ' 3% 3% Calumet&Ar(6). 111% 114! Calu & Hecla(2) 33% 33% Can Dry (t4%). 80 80 Cannon Mills. 47% 48 Caro Clin&O(4). 100 100 Cent Alloy(2)... 41% 41% Century Rib M. . 13% Cerro de Pas(5). Certain-Teed (4) Certo Corpn(t4) g:xndllr-Cle'. 5 andler-Cl pt. . Ches & &1 C&O Corpn(3).. 67 Chi & Alton. 1% Chi & Alton pf. 4 18% Chi Great West. 14% Chi Gt West pt. Chi Ml & StP.. 36% ChiMil & StPpf 53 Chi& Nwn(4).. 85 864 Chi Pne Tool(6). 126% 130 CRI1&Ppf(7). 107 107 Chi Yel Cab(3).. 34 34 Chickasha (3) b51% 51% 50% 51 50% 513 6% 8919 Cluett-Peab(5). 73 73 Coca-Cola(6).... 16 67 Col Fuel & Iron. 71 ks ColSou 1st(4).. 71 71 ColSou2dpf(4) 172 172 Col Carbon(4).. 9615 97 Com Cred(1).... 331 34 Com Cristpf 61 87% 874 Com Inv (war).. 16 16 Com InTrpt 6% 95% 9514 Com Solvents(8) 210 215 Com Powr(13)., Com Powr rts:.. Congoleum-Nair Cong Cgrs (16).. ConClgprpf (6%) Conley Tinfoil Consol Cgrs(7 Con Film pf(2). Consol Gas(b).. ConsolGaspf(5) ConRRCuba pf 6 Consol Textile. . Containér A 1.20 Container B 6c. Cont Baking A.. Cont Baking B. . Cont Bak pf($). 83 83 Cont Can(5).... 115% 119 Cont Insur(6 801 E0% Cont Mot (80¢).. 17% 174 Corn Proc13%). 8i4 85 Coty Inc(gs)... 244 Crucible Stl (6). 78 78 CubaCaneSugar. 4% 4% Cuba Cane Su pf 18 18 Cuba Company. 23% 234 Cuba R R(4.80). 86% 86% Cuban Am S(1). 17% 1% Cudahy Pkg(4). 71 Curtiss Aero(1) 141 Curtiss Aero rts Cushmann pf(7) 135 135 Cutir-Ham(3%) 58 58 Cuyamel Fruit.. bd% 54% Davison Chem.. 61% 62 Deere&Co pf(7) 124 Del & Hud(9)... 193% 194 Del L & W(17).. 131 131 Den RG'Wn pf.. 54 54 Detroit Kd(8) . Dodge Bros A... 22 23 Dome Mines(1). 9 Drug Ine(4)..., 113 1 Dul SS & Atlan. 4% Bayuk 1st pf(7) 106% 106% 106‘: 17% Bucyrus p£(7).. 113% 113% 1 hio(10) 183 183% 1 % 674 ComInvTr(3.60) 116% 116% 113 Devoe A (13.20). 54 54l 5 Diamond M(19). 160% 161% 160% Am Po&L pf(6). 103% 103% 104 152 70 68% 4% 8 242'% 57% 111 Am TobaccoB(8; 1631 163% 163% 1u7 6014 109 18% 4Lk 148 46% 4l% 94 80% 9% 19 384, 295k 47 4844 191% 191% 191 Atchison pf(5). 1037 103% 103% 160% 4T 54% Atl Refining(4). 180% 184% 179 6% 44 Balto & O(6)... 112% 113% 112% 8% 0% 111 33% 344 33% 33 17% 82% 8214 621 Y9 117 11735 404y 125 0% 0% 49% 53 4ls 33 44% 13% 36 10% 125% 138 125% 6 7 3% 111 33 T9% Can Pacific(10). 218% 219% 215% 47 100 Case Threshg(6) 360 363% 359 38% 13% 96Y9 23 8214 674 114 16% 14% 33% 35% 51% 84% 126 Cht RI1&Pac(6).. 125t 1267 12315 CRI1& Ppf(6).. 100% 100% 100 107 34 50% 5014 50 112 118% 111% 86% 73 1 4 Collins & Atkmn 631 635 1232: 687 72 Col Gas & K1(5) 12613 1261 122 Col G&E ptA(6) 107’/: 107% 107?: 96 33% 874 16 95% 84 83 116 803 16% 843 245% 244 kg % 18 23 86% 17% ke 69 141% 135% 9 8 135 58 54% 60 124% 124 193% 130% 52 2141 214% 214% 54l 22% Fisk 1st pf cv(7) [Fleischmann(3) Florsheim (A).. dolorsheim pr(6) Fox Film A(4).. Freeport (16%). Gabriel Snub A. Gardner Motor.. Gen Am Tnk(4). Gen Asphalt.... Gen Asph pf(5). Gen Cable...... Gen Cable A(4). Gen Elec(15)... GenElec sp(60c) Gen Ice Crm(3). Gen Motors(17). Gen Mot pf(7).. Gen Outdr Ad(4) GenOutdrAd(2). Gen Ry Sig(5).. Gen Ry S pf(6). Gen Refrac(3).. Gillette Raz(5). Gimbel Bros. .. Gimbl Br pf (7). Glidden Co. Gold Dust (3) . Gold Dust (rt Goodrich(4). Goodyear Tir Gotham (32% )’ . Gotham n(32%) Gould Coupler A Graham-Paige. . Grhm-Paige cfs. Granby Min(4). Grand Stores(1) Grand Unlon. ,.. Grand Un of (3) 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). Guantaamo Su. Gulf Mo & Nor.. Gulf States Stl.. Hack W pf(1%) HamiltnWpf (6) Haona 1t ot .o Hartmn B(1.20). Havana El Ry Hershey Corp. Hershey pt(4).. Hoe& CoA..... Hoe & Co rights. Hollander & Son Hud Man(2%). Hudson Mot(5). Hupp Mot (£2).. Illinots Cen(7). Ind Oil (1%). Indian Mot(1%) Indian Refining. 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 Harv(j6)... Int Mtch 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 pf cfs(7) Int Prtg Ink 234, Int Ry CA pf(5) Intl Silver pf(7) Int Tel & Tel(6) Island Creek(4). Jewel Tea(4)... Johns-Manv (3). Johns-Man pf (7) Jones & Lau(7). Jordan Motor... Jordan Mot rts. . Kan City South. ~ 57l 85l 3% 140% 314 27 81 28 70 1 634 K CPo&LtB(6). 108 Kaufmn D S(1). Kayser J(5). Keith-Albee. ... Keith-Al pf(7) Kelly-Spring... Kelly Tire 6% pt Kels Hayes(2). Kelvinator Corp Kennecott (6). Kinney (G R). Kinney pf (7) Kolster Radio. . Kraft(gl%). Kresge(11.60). Kresge Dept S.. Kress (S H)(1). Kroger Gro(cl). Lago Oil....... Lambert (16%). Lee Tire & Rub. Leh Por Cmt 214 Lehn & Fink(3). Lite Sav(1.60).. Lig & Myrs B 15 Liq Carbonic(4). Loew's(13)..... Loew's pf(6%). Loft, Louisiana Oi1 LoulsGasA(1.75} Ludlum St1(2).. McAndrews 2.60 McCall Corp(3). McCrory A(2) McCrory B(2).. McCrory pf(6). . McKeespt Tin P) Mack Truck(6).. Macy Co (2).... Mad Sq Gar (2).: Magma Cop(3) Mallison & Co Mallison pf(7). Man Elec Suply. Man El m2g(d5) Man Shirt(2)... Maracaibo Ol. . Market St prior, Marland Oil..... Marlin-R($3%) . Martin-Parry Mathieson(6) May Dept S(4). Maytag(3).... Maytag pf (3).. Maytag Ist pf(6) Melville Shoe Mengel Co...... MetroG pf(1.89) Mexican Seab Miami Cop(1 Mid States ctfs. Midland pf(112) Miller Rubber. . Minn & St Louls MStP&SSM 1i(4) Mo Kan & Tex.. Mo K&Tex pf(7) Missour! Pacific Missour! Pac pt. Mohwk Car 2% . Montgmry W (16 Moon Motor. ... Mother Lo(30e). Motlon Pic Corp Motor Meter A.. Motor Prod (2). Motor Whi(2).. Mullins Mfg. Murray Corp... Nash Motra(16) 116% 35% 122% 207% 49 60% 34 92 461 874 87l \ NorAm Ed pf(7) North Pac (5).. Jor Pac efs(5).. orthwn Tel(3) Norwalk Tire. . . Norwalk Tire pf 011 Well Supply. Omnibus....... OppmCollins(f4; 7 Otis Elev(17). .. 2225 Otis Elev pf(6). 122 Otis Steel...... Otis Stl pr pf(7) Outlet Co(4).... Owens Bot(ct4) Pac Coast 2d pf. Pacinc Gas(2).. Pacific Lighting. Pac Lightg(rts) Pac Ol Stubs. .. Pac Tel & T(7). Packard Mo(14). Pan-Am Petrolr Pan-Amer Pet B Pan-Am Wn B.. Panhandle. Parmt-Fm (8 Paramount (n Park & Til (13). Park Utah(80c). Pathe EX...evee Pathe Ex(A). ... Patino M(2.92).. Peerless Motor. Penick & Ford Penick&F pf(7). Penn Dixie Cmt. Penn RR (3%). Pere Marq(8).. Phila Co pf (3).. Phila& RC& 1., Phil Morris(1).. PnillipsPet(1%) Pierce-Ar (A).. Pierce-Ar pr (n) Pierce Oil. Pierce Oil pt Pierce Petrolm. Pillsbury(12.10) Pitts Coal. Pitts Coal pf.... Pitts Term Coal. Pitts Ter pf(6). Pitts&WVa(6).. PortoRicoTobA . Postal T&C pf 7. Pr Stl Car pf(7). Produ & Refinrs. Producers&R pf. Pub Serv NJ(2). Pub Serv pf(6). Pub SE&G pf(6) Pullman Co(4).. Punta Aleg Sug. Pure O1l (50¢).. Purity Bak(3).. Radio Corp..... Reading Ry (4).. Reading 1st(2).. Reading 2d(2) Real Silk Hos. .. Real Silk pf(7). Reis (R) & Co... Remingtn-Rand Rem-Rd 1st(7). 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) StL&Southwest. Savage Arms(2) Schulte (j3%).. Schulte pf(8)... Seab Air Lin Seab Air L pf.... Seagrave(el.20) Sears Roe(12%) Seneca Copper. . Shattuck FG(: Shell Un(1.40).. Shubert The(5). Simmons Co(3). Simms Pet Sinclair Oil. Skelly 011(2). Sloss-Shef(6)... Snider Packg Co Snider Pkg pf... So Por Ric S(f2) South Calif Ed.. South Dairies A. B South Ry pt(6). SouRyM&Ocfs 4 Spang Chalfnt. . Spear&Co pf(7). Spicer Mfg...... Spiegel Co (3).. Std Com Tob(3). StAG&E (3%). Std G & Epf(4). Std Milling(5).. Std O Cal(2%).. StdO1INI (t13%4). StdOINY (1.60). Std Plate G/ Std P Glass pf.. StdSanPro(1.68) Stanley Co...... Stewart-War(6) Strom Car(2)... Studebaker(5).. Studebak p£(7). Submarine Boat. Sun Oll(n1)..... Sun Oil p£(6). Superior Ol Superior St Sweets of Amer. Telautogh(80c). Tenn Copper(1). Texas Corpn(3). Texas Gulf Sul(4 Tex Pac C & Oll. Tex Ld Tr(new). Thatcher pf 3.6 The Fair(2.40)., The Fair pf(7)." Third Avenue. . Thomp J R(3.60) Tidewater AsOil Tid WASOIIpf (6) Tidewater Oll 80 Timken(16).... Tobac Prod (8).. Tobac Prod A(7) Tob Prod ctfs B. Transcont Oll. .. Trico Prod(2% Udwd EI F(4).. Un Bag&Paper. . Union Carb(6) Un 01l Cal(2)... Union Pac(10).. Utd Biscuit 1.60. Utd Cigar St(1). Utd Fruit(t6%) U S CIP&F(10) U 8 Distributing Univ Pipe & Rad Uit PRT, Ace2) . Utah Copper (8) 168 Vanadium(t4).. 80i Vick Chem(4).., 8 . | renewal of 6 per cent to 61, then to 7.} s | latter stock continued in urgent de- half hour, the industrial section did not respond as it had on previous occa- sions to the support accorded when signs of reaction threatened. Selling became more pronounced in the afternoon following the raising of the rate on call loans, first from the then to 7'z shortly after, and finally | to 8 per cent. This was a direct response to the calling of some $30,000,000 by local banks in prepar: tion for their weekly settlements with the Federal Reserve and the approach of month-end requirements on the out- side. United States Steel dropped a point or so under the previous final. General Motors was off a like amount. Chrysler held above Thursday’s closing most of the session. In the midafternoon the tape was more than 20 minutes behind operations on the floor. It was evident, however, from the ac- tion of the prominent industrials that efforts to sustain public confidence at the current price level were not meeting with the success that accompanied sim- ilar attempts earlier in the week. Be- cause of the enormous public participa- tion during the past two months on the buying side, there was no doubt that stocks were now in weaker hands and that distribution had been carried on on a large scale. General Motors Off. Generil Motors, after opening 2 points higher, dropped below Thursday's final. United States Steel gained more than a point at the outset, but sub- sequentiy moved sympathetically with General Motors. The copper shares were subjected to heavy profit taking at intervals and losses of 1 to 2 points were recorded in the recent favorites. In view of all that has been said about the change for the better, present and prospective, in the ofl industry and the likelihood of merger developments which should work out favorably for stockholders, the oils with few exceptions acted dis- appointingly. Failure of Pan-Ameri- can issues to do anything along the line of restoration of dividends brought some selling into_these issues, while Standard of New Jersey and numerous others worked gradually lower. Barns- dall Corporation “A” apparently had discounted the resumption of d.ividends on that issue. Rails Respond. It was not surprising that the rail- voad stocks should have held better than most others when the selling was at its height. They had done the least in the prolonged campaign for higher prices, and were in the best position to respond to prospects of larger earn- ings, although as a group they I the necessary leadership to encourage public participation on the buying side. Rock Island, however, Kansas City Southern and Missouri Pacific were in- clined toward slightly higher levels. Specialties that commanded atten- tion on the side of advance included A. M. Byers, which was bid up to a new high at 135, a gain of 10 points, before the demand was supplied. Johns Man- ville gained more than 5 points to a new top and Gillette Safety Razor was carried to its best, up almost 5 points. Prospect of recapitalization of the financial structure was the incen- tive for the demand for Coty, Inc., also at its best. Industrials Recover. Sharp recoveries in a number of prominent industrials were accompanied by further liquidations elsewhere at the outset of trading today. The increase of over $54,000,000 in the Federal Reserve’s weekly brokers loan statement, making the fifth con- secutive increase reported by the bank, | caused some anxiety but failed to bring out any great amount of selling. Market Hardens. Despite official denials that negotia- tions were in progress for acquisition | ;of Warren Pipe by A. M. Byers, the mand and at 135 was at a new high and 10 points above the previous final. | ‘The market after the first quarter of an hour hardened all around. e — Curtis to Pay Extra. | NEW YORK, September 28 (#)—' ‘The Curtis Publishing Co. declared an extra dividend of 50 cents on the com- | mon with the regular monthly dividend | of 50 cents, both payable November 2 to holders of record October 20. P.‘ S. Collins, treasurer, was elected a vice president. . 3]!:!01‘ Talkg(4) 108% 109% 1064% 107% Va-Car Ch pf(3) Va-Car Ch p£(7)! Vivaudou Co. Vule Det pf(7).. Wabash..o.oeue Waldorf(1%). Walgreen pf 6% . 106 Walworth(1.20) Ward CLA(8). .. ward Baking B. Warner Bros Pie Warner Plc A... Warner-Qu(2 Bros(4) 1 Warren F&Pipe. Web & Hell..... W Penn El pf(6) W Penn El pf(7) West DairyA(4) West Dairy B... West Maryland. West Md 2d pf.. White Eagle(2). White Motors(1 White Sew Mach White SM pf(4) Willys-Ov(1.20) Wilson & Co.... Wilson Co pf A. Wilson & Co pf. Woolworth(6). 2% 192% Worthn Pump. 9 394 Wright Aero(2) 16814 Wrigley(153).. 3 Yale&Twne(15). 68Y% Yellow Truck... 39% 39% Youngstn Sh(5). 93% 93% Hourly Sales on N. Y. Market. 1lam.. 692900 12 noonl,379,000 1p.m.. 2,176,500 2 p.m. 2,779,600 Dividend rates as given in are the annus . 5 s3 red stoc a P year—no regular rate. ay- in stock. ¢ Plus 5% tock. d Pay- when Payable in cash or | stock. £ Plus_ 1 stock, _& Pl in_stock. _h Partiy stock. i Plus stock. k Plus 1/120 share _quarterly in flock, m Pavable 1/10 share auarterly, in nited Cigar Stores common stosk. B Plus 1% % in stock. WRIGHT, SLADE & CO. Members New York Stock Exchange Chicago Board of Trade Stocks and Bonds Bought and Sold for Cash or CARRIED ON MARGIN The Mayflower Hotel Connecticut Ave. at De Sales St. Telephone Decatur 780 Resident Partner Offices New York Warrenton, Va. Paris, France quitable Co-Operative Building Ass'n JOHN JOY EDSON, President Organized 1879 Assets . $5,449,244.49 'WALTER S. PRATT, Jr., Secretary 48th YEAR COMPLETED Surplus & Profits $1,578,070.05 Subscription for the 95th Issue of Stock Being Received IT’S NOT WHAT YOU MAKE l l BUT WHAT YOU SAVE . “THAT COUNTS T Open an account at the Equi- table and Save Systematically. Come in and have us explain our plan of savings. . 915 F St. N.W. S == UNLIMITED Funds for LOANS On Improved ’Real Estate & T Nearby Maryland, Virginia and the District of Columbia For Periods of 3,5 or 10 Years Low Interest Rates and Charges BOSSEFHELPS Founded 1907 1417 K St. Main 9300 Loan Correspondent John Hancock Mutual Life Insurance Co. SH= i i i i L i i i l&m I Hllflimylm il Announcement WE, the undersigned banks and financial institutions, hereby agree to close for Saturday night business at the locations listed below to become effective at once. This agreement is to remain in force for each successive year thereafter, or until can- celled. AMERICAN SECURITY & TRUST CO. Southwest Branch Central Branch BANK OF COMMERCE & SAVINGS DISTRICT NATIONAL BANK inth Street Office FRANKLIN NATIONAL BANK LINCOLN NATIONAL BANK MT. VERNON SAVINGS BANK NATIONAL BANK OF WASHINGTON RIGGS NATIONAL BANK 7.!h and Eye Street Branch SECURITY SAVINGS & COM- MERCIAL BANK WASHINGTON LOAN & TRUST CO.