Evening Star Newspaper, October 2, 1928, Page 14

14 L34 e s Money to Loan Prevailing interest and commission. < EE N NON TS 420 Wash. L. & Trost seph 1. Weller g6 Washi 1 & T SECRETARY-STENOGRAPHER AVAILABLE * Secretery. compsient to take charze of private office. correspondence. snd effairs of busy execitive, desires position waere intelligence and personality E’:lm:n stenographer. 1 is, needed. Tan years' experi: Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representine Mu fe Ins. Co. 1520 K Street our Idle Money Invested ip Our First Mortgage Notes Will Pay You 6% ured on Hish-class Preverty in Washinzton and its environs You may buy the entire loan or in Denominations of $250 and upvards BOSS =PHELPS Realtors 1417 K St.. Main 9300 I WILL SELL 12 International Bank @ 120. 28 Units Wardman Morigaze & Discount @ 80%;. 300 Uniis Real Estate Mertzage & Guaranty @ 8 500 Miller Train Control @ 2%. Thomas L. Hume 11412 G St. M. 1346. M. 4733 NATIONAL PAPER COMPAN I AL D e Cioth, 1932, The Boart of Direclors have declared & arterly dividend s en ".l’ 3 a O Chacks to be matled. Transfer books will nevio O*VEN' SHEPIERD. Vice President and Treasurer. FIRST DEED OF TRUST LOANS On Completed Properties and for Construction Use Reasonable Interest and Commi JAMES F. SHEA Investment '~ When you invest in 6}4%% In- sured Mortgage Bonds of The Federal Security & . Mortgage Co. you know that your princi- is- properly safeguarded and iberal yield assured. Secured by mortgages on con- servatively ‘appraised owner. occupied homes of the District of Cols ia, they are the direct ehligations of ‘the Conipany with resources of over - $1,000,000. _Independently trosteed by a large National Bank and with underlying collateral _uncondi- tionally guaranteed by the Equitable Casualty and Surety Company of New York, with ecapital, surplus and reserves of over $3,500,000, under the super- vision of .the New York State Insurance Department. they pr sent an unusual investment with a liberal vyield of 6'2% net. Maturities 2 to 10 years. Descriptive ular en Request Federal Security @ Mortgage Co. 1522 K Street N.W. Please send me your circular on Tnsured Mortgage Bonds. You get 7% % on your investment’ "in this 18-year-old common stock When you invest in Cities Service Common stock at its present price, you get a net yield on your money of about { 1%%. i More than 90,000 people re- . ceived the September 1 divi- !"dend on this strong stock, on which total dividends of more than $98,000,000 in cash and securities have been paid in the last 18 years. ccmawe=7 FINANCIAL ADDITION ON VIEW . Erlzrged Building Wi'l B2 In- neeted by Public Toms:- row Evening. BY EDWAED C. STONE. Following the completion of th» ex- | tenzive addition to th* Union Trust Cn. Bui'ding. which has doubled -ths space of the bank. trust department and other THE EVENING STAR. WASHINGTON. D. €. TUESDAY. OCTOBER 2. STOCK PRICES SAG | NEW YORK STOCK EXCHANGE Received by Private Wire Direet to The ,Sllr [ Abitiby Power 4 itibi Po pf16) Abrahmé&strans 110% Adams Exp ¢6). 340 Adv Rumley.... 53 Adv Rumley pf. Air Redetn (13). Amai Leather.. 10% Ameradar2y..:. 34 am Agricul Chm 13 Am ArriChpf.. 674 Am Bank N(vi) Am Beer Sugar. cffice facilities, th~ enlarged . building will bs thrown | cpen to public in- spection tomorrow {evening fiom 7 to 10 o'clock, accord- ing - to announce- ment todav by T4- ward J. Stellwagen, the president. Th> officers, directors and members of the staff will ne prasent to show visitors over the bznk. Th® handsom> eddition extends west on H slt’l‘icl. EF Ao 2 exterior being . 3. Stellw=gen. :lhmrfec! _match with the stone in vh‘! wall of th> original building. The lobor is three times es large as before and ths cags space has been doubled. The ceges themselves have been enlarged and telephone end telautograph com- munication installed in each on=. The | axtensive changes were started in Juty, | 1927, £nd_an er‘\‘ptlflnml!gl' ‘sttractive | nk building is the result. bnA‘nc\" vault was installed for ths | bank’s exclusive uze. This has & 13-ton door and the modemn vault now holds th> compeny's stocks. bonds, éollateral and . oth’ curjties. On the third floor is the enlarged bookkeeping de- partment and filing rocm. The new directors’ room, on the’ ninth floor, facing s~uth, is delightfully situated. Much of the form-r board rocm hes baen taken over by the trust depart- ment, thess quarters having besn cn- tirely refinished. Present Officers and Directors. Officars of the Union Trust Co. are Bdward J. Stallwagen, president: George E. Hamilton, vice president, attorney | and trust officer; George E. Fleming, vice president and ascistant trust off ‘cer; Walter S. Harban, vice president Edvard L. Hillyer, vice president and | second es:istant trust officer; Edson B. Olds, vice president and treasurer; Irving Zirpel, szcret>ry and third assist- ant trust officer; W. Frank D. Herron, ass'stant treasurer; S. William Miller, assistant treasurer: G. Elmer Flather, assistant treasurer: Willlam “S. Lyons; assistant secretary, and George E. Ham- ilton. jr., assistant attorney. The following serve on th board of directors: A. L. Baldwin, J. Harry Cov- ington, Joseph H. Cranford. G. Thomas Dunlop. George E. Fleming, George E. | Hamilton. John H. Hanna, Walter S. | Harban, Frank C. Henry, John C. Hoyt, | J. D. Kaufman, A. S. Kenny, James B. | | Lambie, Thomzs P. Morgan, George H. | Mvers, H. C. Newcomer, Daniel ‘W. O'Donoghus, T. S. Porter, Ord Preston. | John H. Small, Luther F. Sveer. Edward J. Stellwagen and Charles F. Wilson. Stores Tieport on Sales Trends. Sales of chain stores reporting to the Pederal ‘Reserve system in August were 2go “in -all lin of | larger ‘then a year | trads exrent cigars and tobacco. Sales | | of groceriss, apparel and dry goods, and 'drusg cHain stores wers reported to b2 about 20 per cent largsr than in Auzust of last yeer: those of cendy and sho> | chain stores were 8 and 11 per cent | lprgsr, resnectively, and those of 5-and- | 10-cent chain stores were 3 par ‘cent larger. The reporting chain store comoanies | havs mors storss in operation then a. »ear avd and th> incresse in sales re- fizcts the growth in the number of stores as well as changes in ths volume of trade. Sales of mail order houses were 20, per cent larger than in August of last vear. These comoanies are also open- ing additional outlets and a part of the | growth'in total sales refiscts’ the busi- ness of the new stores. Insurance Business Booming. The life insuran~e business is grow- ing mors rapidly than eny other busi- ness in_the country, according to fig- ures submitted by Clinton Gilbert. in- surance stocks cpecialist, ‘which show that the assets of the life -insurance ‘companies ‘are gaining at the T2te of $123,000,000 a month, or. §1,476,000,000 s year. At this rats of grawth it is ectimated that the total admitted assets of life insurance companies of the United States will be equal to.more than $15,800,000,000 by the end of 1928. Growth of the assets of life in- :urance companies is exceeding that of the public’ utilities, the railroads, and even of the automobile companies, which ran only about 5 per cent ahead for the first six months of 1923, com- pared to an Increass of about 11 per cent for the life insurznce companies. Sanitary Grocery Market Leader. Sanitery Grocery was ths most active sl on ih: Washington Exchenge to- , opening at a new low-on the pres- ent move 4t 131'.. After several sales of 10-share lots, the stock firmed up and 60 shares sold at 133 end 7) more at 134.° As is 50 often the case, a stock is pushed up on.merger rumors and when the merger is announced the stock reacts on “the good news.” Safeway Stores_droppzd -10 poipts on the: New York Curb yesterday and Sanitary Gro- cery was off 12 points, closing at 498. Potcmac Electric Power 512 per cent preferred sold to the extent of 45 shares at 108%. Chesinut Farms Dairy moved | at 107, Lanston at 113!5 and two shares of Mergenthaler at 101. Two shares of Washington Gas came out at 9873, and 20 shares of Reilway & Electric pre- ferred movad at par. In th- hond division Capital Traction 5s sold a:. 1013, Washington Gas'6s, s-ries B, at 108. The corporation's series A boncs sold at 1052, Wasltingon Gas 55 came out ot 1027, i | Heard in Financial District. William D. Hoover, president of the | Am Bosch Am Br 8ht Am Can2). AmCar&Foy« Am Chicle(3)... 8 Am Drug8ie). . 1l Am Encaur2 40) T4l Am Expressif). 218 Am & For Pow 3 Am&For Pr 2d 1 Am Hide & Lea. Am Home Pr13) Am lceit2ig).. 43l Am Internati(2) 106 Am LaFr&Foam 7' Am Linseed ... 115 Am Linsd pf(7). 128 Am Locomoi8) Am Meta Am Piano. Am Piano pf Am P& L., 8 Am Radiatori5) 1534 Am Py Ex(6)... 12 Am Republie Am Saf Raz(15) Am Seutinz3). Am Ship & Com. 41§ Am Shipblde(8) 80 Am Smeltine(8) 242 AmS & Rpfi7). 13,84 Am Snufftiz 168 Am Stl Fdy=i3). 56 Am Fy pf(7) 111% Am Sugar...... 72 Am Sugar pf (7) 100l Am Sumatra (3) 65 Am Tel & Cats) 2 AmTel & Am Tobacco(8). Am TohaccoR(8 3 Am Tob pfi6).. 115% Am TypeFo(8). 119% AmWW&Elel). 61 Am Woolen..... 13% Am Woolen pf.. 42 Am Wr Pa pfefs 43 Am Zine. . 45 Am Zine pf. Anaconda 14) Archer-Dan(3). ArniourDel pfi7 Armour. 111(A). Armour, 111(B). Armour.11l pf(7) Arnold Con & Co Asso Ury G2y Ass0 O1l(2). Atchisonc10)... 1914 Atchison pf(5). 104 Atl Coast L(T10) 1613 AUGuIt & Wi, 47% At Guif pf(3).. bdin Atl Kefiningi4). 18415 Atlan Ref pf(7). 116% Atlas Pow pfi6) 104% Allas Tack. . 12% Austin Nichols, 7% Austin-Nich pf. 334 Bald Loco pf(7) 117% Balto& Us)... 113% Balto & O pfi4). 795 Bambgr pf(6l3) 109 Bang & Ar(3%) 69 BankofMan(16) 910 Barker Bros(2). 30 Barnsdall (A) sl Barnsdall B.... 33% Bayuk Cgrs (2). 104 Bayuk I8t pfi7) 106% B 181 5% 13% 834 45% Belding-Hemwy t & Cotd)... 8ln Betlilenem Steel 64% Beth Steel pf(7) 113 Bloomingdale.. 104 Blumenthal pf.. 110 ° Hon Amn Add).. 724 Booth Fisheries By Booth Kish Ist.. 55% Borden Milki§). 1621y ‘Boston & Maime. 70 Briggs MfgFCo. 31% Briush Emp 2d. 6% Brockwy Mot 67h Brockway pf(7) 133 Bkiyn Edisn(8). 270 Bkiyn M; 0t BklynUnG: BrownShve( Brunswick B3) 5515 Brunswick Ter. 4 Bueyrusi 1) ..oy~ 3; Bucvrusevilig) - 4dl Buff Roché P4) 75 Buft&Sus pfe4). « 404 Burns Bros(B), BurnsBrospf(7) 1034 Burtoughsci4). 174 Bush Term(g2) 55 Bush Ter de(7). 106's Bush Ter uf(7). 114 Butte Cop & 7. . T4 Butte & Sup(2). Il Butterick Cos 44 Byer & Co. . . 188% Byer & Co pf(7) 112% By-Prodi(r2.76). 176 1f Packg4). han Zinc. . Calumet&Ar:6). Calu & Heelar2) Can Dry (T4%). Can Pacific: 1v) Cannon Mills. Threshg nt Alloy2) 10 de 1'as5) tain-Teed(4) ndler-Clev. . andler-Ci pf. EDY 113 53% 8% 364 40% 97 40Y% C& 0 Corpnid), Chi & Alton.... Chi & Alton pf.. Chi Great West. ChiGt Wast pf. Chi Mil & St P, Ch Mil & StP pf Chi & Nwnié).. Chi&NwD pfi7). *hi Pne Too| ! R1&Pacié). R1& P pfi7). Chickasha (3).. ChildsiZ.40). .., Chile Coi24) Chrysler(3).... 124 City St BA% stk &8} CCC & StL(8)... 267 pre7) 120 Joca-Coluif)... 1654 Collins & Aikmn 63 108 5474 b0in 52 National Savings & Trust Co. has re- turned from a month's outing in Maine, Rang-ley Lakss. Woodbury Blair, vice ! president of the same bank, has alsh| I'return~d from a Summer at his placy | | 2t Newport, R. L. and Frank W. Stone, | another vic> president, will start on his | vacation Thurzaay. having planned »n | ~ttondsd motor trip and a visit to At-| . in their bro- ayflowsr Hotel, for ' receiving D! v series returns. Com- | mencing with the first gams, they will | open_ their offices to the public and nish annual Locel stockholders have received | word that th> Burroughs Adding Ma- chine Co. has deslared a spacial divi- dend of §1, payab'e October 31 to stock- holders of reccrd Octcber 16. The McCrory Stores Corporetion has | declared the reguler quarterly dividend .50 on tha preferrad stock, payable Noversber 1 to stock of record Octo- | ber Z0. | ) i Cubzn Act Protested. HAVAIA, October 2 ¢P).—Recent res- | olutions of th> Cuban treasury. depert. m=n’ order that aftsr September 1 Cu. ban consuls abroad accep. only invoices written in the Spenich languess. This Gs sent to Cuba. The meacure hes already mst with oppesiticn from many forsign exporters, | who say the ruling will wors a herd- n o 5 throng! he United information en the | most of which he spent fishing on the | C 1 & fron. T0% co o | Col C ol Com C‘redd)) .. Com Cristof 615 Com Cr nt Biz). 25 CominvTrid &) 1224 Com Inv imar).. 20 Com In Tr pt 6% 85 Com Solvents«§) 210 Com Powr(t3) Com Powr rts Uonae Nast«2 LCongoleum- Nair Cong Csrs (16). Consol Crrstd) ConCigpruf (6t Con Fium pfi2). ConRN('ubs pf t*onsol Text 4 Cont Bakiug B. & Cont Bak pf(¥). K3ly ntCanis), ... 1184 nt Insnt8) . 81, Cont Mot (¥0c). 16% CornExBankizo 720 Corn o3y Bew Corn Prod o ha Cane Sn of ha Company ba R R4 80) . D21 tes wha will not be able to interpreters Cuban Am 8c1). Tndand Pkgi4). High. Low. Clgse. J »3a B3'm|urtiss Aararl) o'y 9 118 340 56'3 884 89 10015 112 330 53 130% 104 1070 6314 20 5din 179 1164 10412 12% it 334 17 1128 795 109 69 900 30 50 34 33% Ads 3% 108 101 106" 106 18% 1in T8l TN 13% 134 824 81 217% 2 47 15' 22% 86 18% n Curtiss Aero rts cCushmann pf o7 Cushmann pf(8) ir-Hami3'4) 19 vison Chem inere& o nfi1) el & Hudiv) . Vel L& Wie?) Devoe A (13.20). Diamond Mot todee Bros A . Nome Mines(1). Drue ine4) . 41 bntad) Pupont 113 50 Eastiant 1¥) Enton gxiecz) Eireninhi &Hio. Eigenfonr pf17). Eitthgon (215).. Etingn nf 61 ) Kise Autol.14) ec Au L pf(7) Ipetr1c Buat . leePawa 101 Eloe P&L D7) Elee Stor Bats) Em BrantgmA) ¥nd Johnis) Eindicott pfel). . knziieers Fub S Eug PuSpfi5). Buuit Bidg (2) Erie KR . Brie latof ..., Bureka V(ti). ‘airbanksid). .. AnkMpL7) edLight hl 40) Federal M & Sm ed MotT f8nc) Fideity-Phoens FIrst NatSo14) €18k Rubber. .. Fisk ISt pf(7).. Fisk 18t pf cvi?) Fieisenmann ) Florsheim pf(6) Fox Film Av4).. Fox Film rts. ... Freeport (16%). Gabriel Snub A, Gardner Motor. . Gen Am Tnke4) Gen Am TC rts.. ten Asphult .. Gen Asph pf(5). en Ca | Gen Cable A 4). Gen Cigarsi4).. Gen Electt5). .. GenElec spi6ic) Gen G Gen G Gen lce Crm (3). Gen Motors:17). Gen Mot pf(7).. GenOutdrAd(2). Gen Outdr Ad(4) Gen Ry SiR(5).. n Refrac(3).. Gillerte Raz(5). Gimbel Bros..., Gimbl Br pf(7). Ghdden Co..... Glidden pr pf(7) Gold Dust (5). Gold Dust (rts Goodrich(4). . Goodrich pf(7). Goodyear Tire. . Goodyr 18t pf(7) Gotham(12%).. Gotham ni12%) Gothm pf exwar Gotham (rts). .. Gouid Coupier A Graham-Faize.. Grnm-Paige cfs Granby Min4). Grand Stores(1) Grand Union Grand Un uf Grant W T rt, Grasell) (2.68) Grt North pfi5) Gt Nor pf cfs(5) Grt Nor Uil %). Grt Wn sug 2.80 Grt Wn Su pfi7) Greene Cana4). Guan Sug pf(8 Gult Mo & Nor.. Guif States Stl, Hackpsk W(1%) Hanna istpt. . Harb&Wikr(76) Hartmn B 2v) Havana El Ry.. Hershey Corp. Hershey nf(4) - Hocking Val(1 Hollanger & Son Houshold(r4). Houston VIl Howe Sound4). Hud Mani2%).. Hudson Mo (5). Hupp Mot «f2).. I1linois Cent 7). Ind Oil (1%) . vu. tudian Mot | 4) Indian Mot pf(7) Indiun Refiming. Indian Refg ctfa ingersoll R(75). Iniand'Stk16% ) tuspiration Cop. interboroRapTr InterconRubber Internat Agri. IntAg Ch ot 1ot Bus Ma(5) Int Cement(4).. Int Com Eng(2) int Harvij6)... Int Mteh pt 3 20 int Mer Marine. Int Mer Mar pt. int Nickel (3).. Int Paperi240). Int Paper p((7) IntPap cfs(z 40) It Prig Ink 2. Int Ry Cent An Int Ry CA pf(5 Inu Salt(s) Int Tel & T¢ ) lowa Central... Jewel Teatd).,. Jewel Tea pf(7) lohns-Manv (%) Johns-Man pf(7) Jones & Laut7). Jordan Metor. Jordan Mot rts KCP&L 1sU(T). . Kan City South. Kels Wh pf( Kelvinator Corp iKennécott (§). . Kinney (G R). Kresge: 1 60 K (S H)). hroger Grotel). Laclede G pft5). Lo Ul Lambert (1613). | use Tire & Kub, Leh Por Cmt 2% ehigh PC pf(7) | LehighValidte) Lehn & Fink(3). 80 Lig My 5. LI & Myrs B 6 Lima L,ocomive. Liq Carbonie(4). Loew's: 73) Loew's nfi8%). Loft. Louisiana LIl AnA (17 Louis & Nash «7) Ludlum St12).. McAndrews 2 60 MacAndrw pf(§) Mutall Corpid). Mctirory At2) MetCrory 121 MeCrory pf(87 Mclotyre Pi1) Mekeesnt Tin Mack Truck§) Macy Co (2).... Man Sa (a1 12). Magma Coptd). Mallison & Co. .. Mallison pf(7) Open. His 140 142% R 9 140 110 38t 62% 1114 6l's 23% T0% 30% 891y 35 (L AN 102% . Low. Cloge. ! 139% | Mandel(214). .. 136 » 135 110 57 60 12315 140 110 53% 61 | 1231y 196 - 131 2244 It 84a 4 5ty | Man Elee Suply. Man &t m2z1da) Man Smirte2) .. Maracaibo Oit. . Mariand i Marlin-Ret3%). Mathiesoni§y . May Dept St4). Maytaget3) ... ot z ¥ Tt fe6) Melville Shoe. ... Mengel Co . MetroG nfi189) Sexican Seab. . Miami Cope )., Mid continent, . Middle States. .. Mid States cfs Midland pfe112) 25 Milter Rubber.. Minn & St Louis MStP&SSM 1it4) Missou Mohwk Car 213 Montgmry W (16 Moon Moter.... Mother Lot30c) Motion Pie Corp Motor Meter A.. Motor Prod (z). Motor Whii2).. Mallins Mfg. Munsingwri3). Mirray Corp... Nasn Motrst16) Nut Acme 1sta). Nat Helins Hess NatBHess pft7) Natl Biscuit(t7) Nat Cash R A(3) at Dairy(3) Nat Dept Stores Nat thstiliers Ndt Distiliers pt NatKnamel & S Nat Leadih) Nat Loud pfA(7) Nat Ld pf B(6). Nat fow& Liv1) Nat Radiator. .. Nat Supplyerh) . NatSurety(10) ¥ Central¥). Y C& Sthes). ¥ j ! N N N'¥ CStL ofe6) NY NH & H (2). N Y NH&H piil N ¥ Unt& Westn N'Y State Rys. . Norfolk South.. Nort & Wniti0) NorAm bl0% at) North Am pfi3) NorAm Ed pf(1) North Pac (5).. Not Pa¢ efsi5). N1 Well Supply. 1 1) Well 8 pt. Jmnib, A Oppmitollinsife Orpheum pfi8). Ous Blevitl).. Onis Steel Otis Sth br pf(7) Owens Boticid) Pac Coast 2d pf. vacine Gamiz) .. Pac )l Stubs. .. Packard Mo 14) Pan-Am Petioin Pan Amer Pet B an-Am Wn B.. Pannandle..... Parmi-Fmgsh, . Paramount (n). . Fark & Til (13). Park Utah8ie). Pathe Ex. Pathe ExiA Patino M2 92). Peeriexs Motor. Penick & Ford. . Pénick&F pf(7). Penn Dixie Cmt. Pa Inx Ctpfi7). R3%p). Peovle's Gas(8). Pere.Mara(18)., Phila Co pf (3) Phita & RCA | Phi Morris(1).. PhithipsPets 1 14) Plerce-Ar (A).. Pierce-Ar pr tn) Pillsbury (72.10) Pitts Coal. . Pitts.Coal pf. Pitta Ter pfi§). PItts&W Va(6). . PPortaRicoTolR. | Poxtal T&C pf 7. Vostum (3),. Pressed Stl PrStl Produ Prophylac(1314) Hub Serv N2y Pub Serv pfi6). Pub S NJ pfi7). Pub $ NJ pfi8). Pub SE&G pf Puliman Coi4)., Pure 01l (h0e) .. Pure il pf(8).. Purity Baki3).. Radio Corp.,.,. Reading Ry(4). Reading 1sti2). Reading 2d(2).. Real Silk Hos. Real Bilk vf(7). Reis-(R) & Co.. Rem:mgtn-Rand Hem Rd Iste7), Rem-Rd 2d(8). . Reo. Mot (11%). Rep | & Sur . Rep L& S pt(7) Reynoids Spngs. iteynidsTobK(5) Richfield Of1(2). Rossia Insib). . Royal D(a3.222) St Jos Lead(13) Stl & S¥nF(18) StL&SanF pf(68) StL&Southwest. StL Swn pf(s). . Savage Arms:2) Sehulte (13%).. Seub'Atr Line. Seab Air L pf. .. Seagruveiel.20) jears Roel$2%4) Seneca Copper. . Shuttuek FGi2) Shell Untl 4u).. Shubert The(5). Simmons Cot3). imms Pe Sinclair 01} Skelly Oile2).., l0s8-Shef(6). . Snider Packs Co Suider Pk pf ... So Por Rie 8(f2) South Cabif £d. . i South Dairies A South Pac South Ry(8). South Ry pfes). SouRy M Spang Chaifat, . Spicer Mfg..... Spiegel Co, (3).. S1d Lom Tebt3) SUGEE3Y%). SIG& Eptid), Std Milling ()., Std Millg pf(6). StdULCal24).. SWOUNI11%) SAOUNTY (1.60) . Sun Vilinl) Superor Oil Superior Steel. . Sweets of Amer. Symingtan €1 A, Lelautogn due) . Teno Copperi1). Tegas (’arpn:3) Texas Gulf Sul(« Texas & Paci5) Tex Pac C & Oil. Tex Ld Trinew) Thateher MIg . ‘The Far(2 40) Thomp J R¢3 60) Tidewater AsOil TIdW As0111(8) 113% 126 209 . Low. Close. | West Maryland. W | + Partly e: $3 in preferred stock. aid this 1928, IN'SELLING WAVE Downward Trend Is Orderly,’w Ho'wever—Money Rate Checks Buyers. BY GEORGE T. HUGHES. Specizl ‘Dispatch to The Star. S NEW' YORK, October 2.—Calle® upon to absorb rather heavy liquida- | tion, the main body of stocks worked | lower in today's stock market session. | The downward trend was orderly, how- | ever, and despite the current high level of prices there were no indications that the selling was to gst out of hand and | that the market would experience the wide-open break which the more con- servative element has been anticipating. | Money conditions were more of a fac- | tor in the speculative calculations. The renewal rate on call loans was estab- lished at 8 per cent, as against 7 per cent yesterday and the high of the pre- vious session of 10 per cent for new loans. Banks called loans to the ex- tent of some $20,000,000 in the forenoon and there -were expectations that the rate for additional accommodations | again would work higher. Much attention was directed to fll-l velopments at the meeting of American | bankers in convention at' Philadelphia, inasmuch as the credit situation has been made the keynote. Speculative Wall Street was awaiting the remarks of.Gov. Young of the Federal Reserve. and his attitude in.this respect is ex- ?m"‘ to be ths same as it has been for the past few months. | Strenuous efforts were put forth by powerful pool interests to maintain confidence in Chrysler. The stock again | equaled its previous high record . of 12473, but came off sharply later. Gen- eral ‘Motors, after opening 2. points higher, again was subjected to pro- nounced pressure and broke some 4 points from the early high. At the same time Hudson. Hupp, Packard and Stud-~baker were freely offered. United States Steel opened a half point higher on a block of 2,000 shares at 160. but subsequently dropped bslow the 158 level, while mast of the inde- oendents moved sympathetically. Lud- lum, however, was an exception. When the market for this stock was found bare of offerings the stock wds bid up to a new high around 75. as compared with the previous final of 69%. Mining stocks were subjected to profit taking, but not bofore International Nickel had experienced a run-up of some - 4 points. Anaconda came off sharply. The of's lacked the nscessary sponsorship to encourage renewed pub- lic participation, despite all that has b2en said about improving conditions. Pan American B, Aflantic Refining, Phillips ‘and Sinclair were supplied .at lower levels. There were the usual pool specialties | that continued to work into new high ground. They included Lambert, which at one time was up almost 5 points, and Coty. Inc., which had as its in- centive for the buying ths recapitali- zation announced yesterday. | High-grade dividend-paying rails lost a good deal of their recent buoyancy, but reaction in this quarter was limited. Coincident with the calling of addi- tional loans for a total of $35,000,000 for the day, the money rate was ade vanced to 9 per cent shortly after mid- dzy. Further liquidation was encour- aged and the main body of stocks worked ‘steadily lower, with only spas- modic rallies from the lows. General Motors was selling at its lowest in the afternoon, as were United States Steel and the other prominent industrials | with the exception of American Can. ‘Wright Aeronautical receded sharply from its early high of 168 for a loss of more than 10 points. Montgomery Ward was down some 5 points at in- tervals and the same was true of Radio Corporation. s ——— Open. Hish.' Low. Tidawater Ol 80 2 Tide W Oil pf3) Timkentté) .. Tobae Prod (8). Tohac Prod A7) Tob Prod ctfs B. I ranscont-anl, Transue & Wi1) Trice Prod: 2t ) Twin City RaTr.. 3 Udwa 6 €14y, Un Bag&Faper. Union Carb(§) Un O Cali2). Utd Biscuit pf (7 Utd Crear 8tel). Utd Fruitisb %) Utd Pape board U'S Pistributing U S Hoffman«4) U S Alcoholch) U S IndAIf pf(T) US Leather.... US-Lenther A U S Leawrpfi7) U S Keaity4) US Rubber. U [ u . U S Steal 0fe7), GSTobpfil).. | Uni Lent Toh(3) Univ Pipe & Raq Gul P&L A¢ vanadtum Van Raalte, Vick Chem (4) Vietor Tatkéi1) Vietor pr pfi1). Va CaroChem,, Vi 7 Ch of by Va-Car Ch pte7) Vivaudou Ce. .. Vulean Detin(A) Wabash........ Wabash pf A(5) Waldorfilig). . Waiworthdf 20) Ward Cl A13). .. Ward Baking B. Ward Bak pf(1) Warner Bros Pig Warner Pie A. Warner Qui2) Warren Bros Warren F&Pip Web & Hell. ... W Penn El uf§) West P 1'o(6). . West P Po vl e7) West DatsvA(4) West bairy B.. Willys Ove) 20) Wilson & Co. . ,. Wilsun to uf A Wilson & Co pf. Woniwoerthib) .. Werthn Pump... WrIkht Aeroiz) Wrigleytvbig). . YaledI'wne(15) Vellow l'tuek... Youngstn Shis) Hourly Sales on 1am. 724100 Tom. 2189160 zu Dividend ratss as given in the above taple are the annual cash ocyments pased on 1 latest quarterly or half-vearly deciaration: Unit of trading i hi: 100 har tra * Plus 4% i stock - & Plus ) 1725 1 stoek Patd = o Pav- le in stock e lhfu ‘nmed u: FINANCIAT." Close. |, LOAN Consult Us First If you need money for your Real Estate financing let us have your application today. : Let us have vour applications “LOANS ON REAL ESTATE Immedi Courteo Our record of 35 years speaks for itself. Percy H. Russell Co. " 1731 K St. N.W. Prompt Service No Appraisal Fee - The Commercial N Complete Investment and Brokerage Service Copy of sur “Fortnightly Review” furnished om request G. M..P. MURPHY & CO. Members of New York Stock Ezchange 1508 H Street Connecticut at K WASHINGTON, D. G Telephone Main 9500 New York % Richmond Private Wire and’ felephane to N F. B. KEECH & COMPANY Membera New York Rubber Exchange Chicago Board of Trade New York Cotton Exchange New Orleans Cotion Exchange Liverpool Cotton Exchange, Ltd. (Associate members) New York Stock Exchange Washington Stock Exchange Chicago Stock Exchange New York Curb Market New York Coffee and Sugar Exchange 1510 H STREET N.W., WASHINGTON, D. C. New York 52 Broadway Philadelphia The Ritz-Carlton Chicago 231 So. La Salle St. Private Wires to X . Chicage New Yeork Philadelphia Providence Grosvenor Building Baltimore - Besten Providence Richmond Telephone Main 245-( Cable “Keecheo” BEST Invest $100 ---or $1 00,000 _JMFORTANCE is a relative term. Theinvestment of $1oo, to the man or woman who has accumulated that amount by careful saving, is as im- portant as is the investment of $100,000 to a person possessed of such a sum. The selection of an invest- fient for either amount, therefore, deserves great care. Equally true, however, is the fact that in these days of intensive com- petition in the business world, most men and women who accumulate money for investment are far too busy to give to investment matters the time and -thought that their impor- tance justifies. If you are possessed of $100,000, you prabably know. that. this . dificulty may be easily overcome. Experience has shown you that a wise choice of securities may be great- ly simplified by enlisting the advice and cooperation of men—such as you will finfcin this organization of kond specialists—whose daily business it is to study securities and security markets, and to sateguard and advanc: the interests of investors. The man or woman with-$100, or with any other sum, will find it both practical and profitable to follow the same sound practice. Write to us, or come to see us, when- ever investment problems arise. We shall be glad to help you. s 8 = T . Iglehart & Co. Investment Bankers 719 FIFTEENTH ST, WASHINGION; D. C. BALTIMORE. MD. WILKES:BARRE, PA. WILMINGYON, DeL. CLARKSBURG, W. VA. RICHMOND, VA.