Evening Star Newspaper, October 6, 1928, Page 28

FLN ANCIAL. D0 THE EVENING STAR. WASHINGTON, SATURDAY. OCTOBER 6, 1998, FPINANCIAL.™ In Nearby Virginia Prudential 51/2% lnl\r:n::: Co. Commonwealth lnvemnenl Co. 917 15th St. N.W. Phone Main 228 WE FINANCE ~—all classes of income-producing oroperty Large Loans a Specialty Current imterest rate and commissior Higbie & Richardson, Inc. 816 15tu St. N.W. Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission. Joseph 1. Weller {1 Wab. tL 4 T Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 COMPLETE FINANCIN 1st & 2nd TRUST MONEY On homes, apartment buildings and business properties. No apprai- sal fee. Prompt service. Real Estate Mortgage & Guaranty Corp. 26 Jackson Place Main 1403 First Mortgage Loans ZLowest Rates of Interest and Commission [Thomas J. Fisher & Company, Inc. Applications Invited at 5Y2% \ Glover & Flather 1508 H St. N.W. Main 1753 Consult Us First If you need money for our Real Estate financing i't us have your application today. Prompt Service No Appraisal Fee The Commercial National Company Incorporated Pald up Cash Cavital, $900.000 Money Avmlable for {'FIRST DEED OF TRUST LOANS On Completed Properties and for Construction Use Reasonable Interest and + Commission Rates JAMES F. SHEA 643 Lo na Ave. N.W. LOANS Let us have your applications “LOANS ON REAL ESTATE Immediate Action Courtedus Treatment Our record of 35 years speaks for itself. Percy H. Russell Co. 1731 K St. N.W. FIRST MORTGAGE LOANS We have funds for financing any real estate loan need, and our long experience in handling all types of loans assures you of sound co-operation in arranging matters to your greatest con- venience. Low Interest Rates and Commission B. F. SAUL CO. Main 2100——— ——925 15th St. { which figur il 30 marked the Il| eighth year, the most succes INCREASED RETAIL August Report for Fifth Re- serve District Shows Gain Over July. BY EDWARD C. STONE. Detailed information regarding re- Lail trade conditions in the Washing- ton area and the remainder of the Afth district are presented in the Rescrve Bank of Rich- monds monthly review, which says, in_part: Retail the fifth rese distriet in Angust showed a seasonal increase over the volume of business n July of this but dronped per _cent behind the busiaess doae in Auguost, 1927 according to con- tdential reports ceived from 30 leading depattnent | Rosenberg. trade M.oD. year were (wo cent less than total sa during’ the first_eight months of last year. August, 1928, sales averaged 153 | iper cent above Ing the three yea § - ve, partly due to store expansion | |in_two or three ¢ Stockss on hand in the 30 reporting stores at the end of August showed & | seasonal increase of 2 per cent over stocks on July 31 this year, but were six-tenths of 1 per cent less than stocks |on hand at the end of August a yesr ago. The percentage of sales in Au- gust to average stocks carried during | that month w 224 per cent, and the | percentage of total sales since January 1, 1928, 1o average stocks carried du ing each of the eight elapsed months was 1985 per cent, indicating an an- nual turnover of 2.647 times. The rate of turnover during the first eight months of 1927 was 2.636 times. Collections during August in the 30 muug department stores averaged cent of receivables oulstanding n Aug\ t 1 this year, compared with per cent of outstanding receivasles cted in August, 1927, Baltimove, ! tenths of 1 pe j Richmond and Washington stores show. ed slightly higher percentages this year than last, but the group of olher cities stores reported slower collections last month than in August & year ago. Wholesale Trade Also Reviewed. ‘Wholesale trade in August in the fifth district was in larger volume than in July in all lines reported upon, & s soual development, but August sales this vear were smaller in every line e groceries than sales in August, 1927. To- tal sales this year were also less in all lines except groceries than total sales in the first eight months of 1927 Stocks on-the shelves decreased dur- ing Augus dl of the four lines for s are available excent gro- ceries and at the end of the month were | in smaller amount than a year wzo i | dry goods and shoes, while grocery and hardware stocks were slightly larger | than a year earlier. Collections in August were better than in August, 1927, in dry goods and drug: but grocery, shoe, hardware and furni- ture collections last month were slower than those in the same month la: Savings and time deposits dex slightly during the month, but contin- ued well above the corresponding 19 figures. Twelve mutual savings banks in | Baltimore had deposits ageregating | $183,521 480 at the close of business Ru- gust 31, 1928, compared with $183,584 146 at the end of July this year and $168,117,568 at the end of August, 1927, Sixty-four regularly reporting member banks had aggregate time deposits amounting to $245,405,000 on September 12 this year, compared with $247,503,000 on August 15, 1928, and $236,414,000 on September 14, 1927, Morris Plan Convention Speakers. E. S. Shields, president of the Virginia delegates at the ninth annual conven- ciation in Richmond Monday. W. G. Walling; head of the Morris Plan Bank | in Chicago, will respond to the greeting. Morris, founder of the Morris plan Robert O. Bonnell, président of the | association, and by representatives of Morris Plan banks of other cities. Among the guest speakers will be E ward D. Nix, professor of advertising, | Washington Universily, St. Louls, Bhd Milton A. Alexander of Detroit. ‘The toastmaster at the banquet on ! 'nmdz.v night will be Luther H. Tucker | lof thé Morris Plan Bank of Albany and the speaker will be Capt. Irving | O'Hay, U. 8. A, retired, & well knmnn, humorist and traveler. Directors Re-elect Officers. Maurice D. Rosenberg, president of the Bank of Commerce & Savings, and the entire official staff of that institu- tion, yesterday were re-clected at the organization meeting of the bank’ board of directors. Three new members, Vernon Owings, E. T. Chewning and James E. Colliflower, were added to that body at the annual stockholders' meet- | ing, September 27, Besides Eresident Rosenberg, officer: | re-clected were Joseph Sanders, first | vice president; W. A. Bennetl, nd | vice president; Irvin Owings, third vice | president; John M. Riordon, executive \\ue president; Joseph M. Milans, sec- Clarence A. Weaver, auditor; ; Frank , as- | sistant cashier. Following the meeting, Mr. Riordon reported that the bank had made an | i excellent showing for the first nine months of 1928, and predicted an even better showing for the year. Association Has Best Yea The annual meeling of the officers | and directors of the National Permanent | Bullding Association was held at the |oftices of the assoclation, 949 Ninth sireet northwest, yesterday. September sing of the thirty- stul in the | history of the association, showing loans | {In force as of September 30 of $4,238, -i | 240 and a net gain for the year of §576,~ 1660.03. The following officers and directors | were elecled for the coming y Of- ficers—Willlam Neuland, president; Rob- ert E. Buckley, vice president; Koland M. Brown, secretary; M. ‘T. Dixon, (reus- Diréctors—Jotin B. Geler, Adolph %, George Monke, 0 Kolb, Harry M. Packaid, Jose cgowilz and Francis L. Neubeck. Gleaned in Financial District. Many local bankers were pained to hear of the death of Townsend Scott, head of the investment banking firm | by that name, in Ballimore. Mr. Scolt, { who was 71 years old, had many Wash- ends. The firm also main- office here. of the Pennsylvania Railroad Co. reached a new high record eptember 1 at 154,005, which com- s with 153,294 on August 1, 1928, in- crease 111 and with 141,564 on Seplem- ber 1, 1927, increase 12,441, Women stockholders on September 1 number 77,565, increase 5,871 over year ago, col- stituting 50.37 per cent of total hold decrease 0.27 per cent. They held 3, 934,726 shares, increase 574,817, being 35.14 per cent of total outstanding stock, increas 149 per cent. Their average holding was 51 shares, increase 4. During the first nine months of 1928 there were 40 offerings of chain store securities, aggregating more than $85,- 000,000, according to the October Review of Shieids & Co., just issued. This. is believed to establish a new record TRADE INDICATED | Beth Steel pf(7) 118 Bankers' Association, will welcome the ‘( tion of the Morris Plan Bankers' Asso- “ Other addresses will be by Arthur J.| X , | Dome Mines(1). Low. Clox 5lix 514 B9t High TN Open. Abitibf Power(4 5lix Abitibi Po pfi6) Adv Rumjey Adv Rumley p Ahumada Lead. Air Redetn (13). Ajax Rubber Alaska Junea Albany Papr Allied Chem. . Allis-Chalm (7). Amal Leather. . Amal Leather pr am Agricul Chm Am Agri Ch pf.. Am Best Sugar, Am Hosch Am Br Sh(]1.60) Am Brown Bov. Am Erown Bo pt Am Can(2) AmCar&Fdy (6) Am Chicle(3). .. Am Drug(80e). Am Bucau Ti$). Am & For Pow. Am&For Pr2a 7 Am Hide & L pf. Am Home P'r(3) Am ice(fzly).. Am Interna Am Lakr&Foam Am Linseed. ... Am Locomot (8) 1348 1340 1348 T84% 10 100 104 104 700 71 0w TL IR @N 18N 18T 67 67 [ 21 a1 #344 dlin 1080 105, 107 94% 94 94 Bl 8lly 1o 11 W0 k) a4 a“ 96 9 pUIN 4 4l ~ 105 . 107 945 ity 1% K ‘A vi 4 o 208 -0 SRV AN VAN Yhin Y Win 153 158 tad A M FREew 7. 1100 110% 1104 Loty IV I T I IO U ) LA TUN 13 500 1 141 141 14l . 420 120 120 i 0 T PO R T 84 2458, 248% 5ia 1850 L 111 120 7 AmS & R pf(7 Am Stl Fdys(3). Am Sugar. . Am Sumatra (3) 62 Am Tel & Tely) 178 B8 163% 163% 16: Am Tob pf(6).. 116 16 Am Typelo(8). 115'% 119 AmWW&EIel). 584 58% Am Woolen..... 134 15l Am Writ Pactfs 16% 16% Am Wr Papfefs 494 50 Am Zinc. . 534 Am Zinc pf. 913 Anaconda (4)... 82 Armour, 111(A). 18% Armour, H1(B). Armour. 11 pt(7) Arnold Con & Co Artloom(3) Asso Dry G(2% Asso Oil(2).... Atchison(10)... 1921 924 19214 1920 Atchison pf(5). 104 104 104 104 Atl Coust L(110) 1584 158% 1561 158' AUl Gulf pf(3).. 55 55 66 Atl Refining(4). 1801 181% 1804 1714 Atlan Ref pf(7). 1161s 1164 116'5 116% Auto Sales 100 104 10% 10% Auto Sales ) AR sy 8 - a8 Autostrap A(3). 44 45 44 44 Balto & O(6)... 110% 110% 110 1107 Balto & O pf(4). 78 7 T8y TN Bang & Ar(33%) 69 BankofMan(16) 875 Uuker Bros(2). 31 Barnsdall (3) 3974 Barnsdall B (2). 40 Beacon O1l. 18% Beachnut(+3) 754 Best & Co(3). 824 Bethlehem Steel 69 1181 11y 538 181y 16k Y7o 82 18% 18% 138 % 4 8ok 82 69% 68 18 118 % % 75 CICE L 1) 611 €1y 60% 1603 161 160 10% 10% 10% 89 59% 58 British Empir G b4 Bl bW Brockwy Mot(4) €6% 66% 66l 667 Lklyn Edisni8). 270 270 290 270 klyn Man(4).. 70 K Ky w BrownShoe(235) 51% 51% 50% 50% Brunswick B(3) 54is 556% 54% 55 Brunswick Ter. 42ix 427y 4274 Bucyrus(1) 85% 357w 340 Bdh Bueyrusevizig) 43 4dls 42 4dl Bueyrus pf(7).. 111% 1114 1110 111% Buff Roch&P4) 75 80 75 80 Burns Bros(B). 35'% 354 36% 83's BurnsBrospf(7) 104 104 104 104 Burroughsct4). 172% 1724 172% 172% Bush Term(g2) 59's 59': 59% 59l Bush Ter de(7), 108'% 1054 108 108 Bush Ter pf(7). 113% 113% 113% 113% But % T Th T 10% 10% 10% 1% 48y 47 474 1844 5% W G 8% 3% 3w 3w T11% 1L 111 1Y 814 324 81y 6% 1T 6% 215% 217% ZIS 47y 41t Bon Ami A4).. Booth Fisheries Booth Fish 1st. . Borden Milk(6) Gotany Mills(A) Briggs MfgFCo. 603 1604 10% Butterick Co. Byer & Co Calif Packg(4). lahan Zine ‘alumet&Ar(§). Calu & Hecla(2) fan Dry (1414) . Can Pacifies10). anon Ml Cent Alloy(2), Century Rib M. Rpf(7) andler-Cl pf. 233 & Ohfo(10) 130' 180% ISU' O Corpn(8). 6b'x 65 65l Chi & Alton 10% 1l 11w 16% 16% l6% 131 13'2 134 827 83 82w Ba% 34N 34 Sl 5l 49% 831 84 53 A 127 127% 126% 127% 8315 831, 3314 3 bl% 51% 51% 504 B0% 50k 8 180 1 *hi Gt West pt. Chi Ml & St P, Chi Mil & StP pf & Nwn(4).. i R1&Pac(6), 1 Yel Cab(3), Chickasha (3).. Childs(2.40) . Chile Co(2%) | Collins & Atkmn ol Fuel & Iron. Col Gas & El(5) (ol Carbon(4).. “om Credi1)... Com Cristuf 615 Com Cr pf B(2). ComInvTri3 60) 1 m Inv (war),. 221y m In Trpf 615 97 Com Solvents(§) 209 Com Powr(13)., 817 Conde Nast(2)., . Congolenm-Nalr 69 6 677 8% 6T% 66l 65 1227 1247 122% 1247 100% 100% 991, 99% 40 42 49w 42 9% 91% 91 91 25 25 25 25 130% 129 1308, 97 Con Film pf(2). | Consol Gas(5).. ConsolGas pf(5) ConRRCuba pf ¢ Consol Textil Container A 1 Container B 60c. Cont Baking A.. Cont Baking B., Cont Bak pf(8). Cont Can(5), Cont Insur(6). . Cont Mot (80c). Corn Procidg ). Corn Prod pf(7) 1 Coty Ine(gs). .. 290 CrownWELStpt7 99 Crueible St (5), 774 CubaCaneSugar. 47y Cuba Company. 207« Cudahy Pkgi4). Gy% Curtiss Aeroi1) 135 Curtiss Aerorts 8y Cutlr-Ham(3%) 624 597 604 58% 891y 39l vl 39y 1905 191% 191 191 1300 13012 1304 1304 213 214k 213 214% 51% 51% 51% Gl 161 161 161 161 28 28% 2Tk 28% 8y 8% 84 B uz 11z 111 574 5T 57 57 Vin 396 2957 296 177% 178 a8 68 5 56 6% 0 F 22 1% 86% 85% 6% 6%y 8% 811y 17% leh 1T 117 80 0 80 5O 15 6 15% 16 821y Bl7a B2n 142 142 290 285 99 1% 21 20% 20% 69% 69% 69l 1854 134% 185 9y 624 613 Davison Chem. . { Debenhms(2.18) Del & Hud(9).. Del L& W(17), Datroit EA(8). . Devoe A (13.20). Diamond M ty) Dodge Bros A. . 59% Drug Inc(4 Dunhill Int Dupont(113 60 109 13 109% 110 3 [y ,) ec Auto L(4) ec Au Luf(7). wisetrie Boat. .. lecPow& Lt (1) lec Stor Bat(5) knd John(5). .. | ingineers Pub § 109% 109 13 111 109% 110 13 31 464 56% 56 67% 69 Fu'tl.llflhl.“) 63% 58% : b3% Fed MotT i f80¢) \delity-Phoenx First NatS(1%) Fisk Rubber. Cisk 18t pf(7).. 1schmann(3) undation Co. . Fox Film A(4), x Kilm ris. Freaport (1613 . Gardner Motor. . Gen Am Tnki4) Gen Am TC 1t Gen Asphalt., Ganlilec sp(ioe) Qen GasA (01 %) Gen loe Crm(3). Gan Motors(17) Gen Mot pf?). . Gen Outdr Ad(4) Gonbutdrad(2). on Ity Sig(5).. on Refrac(3).. illette Rua(5). | ilidden Co. uld Dust (5) Gold Dust (ris). Goodrich(4). Goodrich pf (7). Goodyenr Tire. Goodyr 1stpf(7) Gothamitzig).,, Gothum (118) . iould Coupler A Graham- Pat Grhmn-Paige ofs Granby Min(4). Grand Union. ... Grand Un nf (3) Grant W (1), Graut W T ris.., 6¥). . Grt North pf(5) Gt Nor pf efs(5) &N pf(6) Gulf States Stl. Hacknsk W(135) Hanna st pf.. Hartmn B(1.20) Huvana Kl Ry. HavEl Ry pf(6) Hershey Corp. . Hershey pf(4).. Hoe & Co A. Hoe & Co righta. Houshold(14).. Houston 01l Howe Sound(4). Hud Man(2%).. Hudson Mot(5). Hupp Mot (£2).. 1llinots Cen (7). Ind OIF(115) . Indian Mot(1% indian Refinin; Indian Refg ctfs Inland S(kt6%) Inspiration Cop. InterboroRapTr interconRubber Internat Agri... Int Bus Ma(5).. Int Cement(4).. int Com Eng(2) Int Harv(jg)... Int Mteh pf 3.20 int Mer Marine. int Mer Mar pf. Int Nickel (3).. int Paper(240). IutPap cfs(2.40) In Pap pfcfs(7) Int Prig Ink 2%, int Ry CA pf(5) Int Tel & Tel(8) Istand Creek(4) Jewel Tea(d). Jewel Tea pf Johns-Manv (3) Jones & Lan(7), Jordan Mot rts.. Kan City South. Kaufum b S(1). Kayser J(5) ICeith-Albee th-Al pf(7).. Kelly-Spring. .. Kelly Tire 6%pt KKelly Tire § %t IKels Hayes(2).. Kelvinator Corp iennecott (8).. Kinney (G R) IKinney pf (8). Kolster Radio Kraftigl) Kroger Grocel). Lambert (1615) Lee Tire & itub Lehigh PCpr(7) ohighVal(314) Lehn & Fink(3). Lite Sav(1.60).. Lig Myers(15).. Lig & Myrs B 15 Lig Carb 1]41‘). Loew's(13)..... Loew's pfi6th). Loft Loose-W(1.60). Loose-W 1aut). lard Co. . Loriilara Dl’('l) . Louistana 011, .. Louls & Nash (7) Ludium Sti(2)., MeCall Corp(3). MecCrory 8(2).. McCrory pf(6).. Meintyre P(1).. McKeespt Tin P Mack Truck(§), Macy Co (2).... Magma Cop(3 Mallison & Co Mallison pf(7).. Man Elee Suply. Man Kl m2zgds) Maracaibo Oil. . Marland O1l. ... Marlin-R(t3%). Martin-Parry. .. Mathieson(§)... May Dept S(4).. Maytag(13) Maytag pt ( Maytag Ist pf(8) Melville Shoe. .. Mangel Co MatroG pf(1.89) Mexican Seab. .. Mid-Continent. . Middle States. .. Mid States ctfs, Miller Rubber. . Minn & St Louls Missour Pacific Missour! Puc pf Mohwk Car 235 . Montgmry W (16 Moon Motor.,.. Mother Lo(30¢) Motlon Pic Corp Motor Meter A, Motor Prod 12), Motor Whi2).. Mulling Nfg.... Mullins B pf(8). Munsingwr(3).. Murray Corp... Nat Acme (sta). | Nat Bellus Hess NatBHess pf(7) Natl Biseuit(17) Nat Bisc pf(7).. Nat Cash R A(3) Nat Dairy(3)... Nat Dept Stores Nat Distlllers Nat Enamel & S Nat Lead(5).... Nat Lead pfA(7) Nat Pow&Lt(1) Nat Ry Mex 2d. Nat Supply(16) NatSupply pf(7) Nat Surety(10). Nevada C(1%). Y Alr Br(3).. Y. Cumr-nl). N Y Railways pt N Y Stm pf(6).. Norfolk South. . Norf & Wn(110) NorAm bl10% std Open. 251y Bhly a9 Hish 257y 101% 104% 95 204 1248, 1084 1681, NatParkBank (24 6 107y 84ty 14 138 Low. Close. 24 244 8614 a3y 10014 101y 101 9474 2% 12“ NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Open. North Am pf(3) 53 North Pac (5) Norwalk Tire. 01l Well Supply. Omnibus, . Orpheum Circuit Orpheum pf(8). OUs Elev(t7), Otis Steel. ., Owens Bot(ct4) Pacific Gas(2) 26% 1% 34 88 . 228 29 80 50 1 Packard Mo(14). 961 Pan-Amer Pet B Pan-Am Wn B.. I'anhandle. . rarmt-Fmi8). . Paramount (n). . Park & Til (13), Park Utah(80c). Peeriess Motor. Penick & Ford Ienn Dixle renn R R (3%4). People’s Gas(3). Peoples Gas ris. Fhila Co pf (3).. Phila @ RC& J.. hil Morris(1).. enillipsPet(1%) Phoenix Hosiery Pierce-Ar (A). Arpr (n) fierce VIL. . Prerce Ol pf 'ierce Petrolm. Pillsbury ( Pitts Coal, Pitts Coal pf PIUSEFLW pf PIUs&W Va (). . LortoRicoTobA . Postum (3)..... ’ressed St Car, Pr St Car pf(7) Produ & Retinrs Producers& R pt Pub Serv NJ (2) Puliman Co(4). Pure 1l (60¢).. JPure Oil pt(8).. Purity Bak(3) Radlo Corp. .. RSIHCefs(4). Leading Ry (4). 1zeal Silk Hos. . Remingtn-Rand em-Rd 151(7). 1-Rd 2d(8) .. 260 Mot (1135). ep 1 & S(4) Reynolds Spngs. eynldsTobB(5) izichfield Of1(2). itoyal D(a3 20615 50 1021y 40 age Armst hulte (j31;) Shell Un( Simmons Co(3). Simms Py Sinclair O1l. Snider Packg Co 50 Po Sug(f23) South Cant Ka. . South Dairies South Pac(6). South Ry (8) SouRyM&u el Spang Chalfat. . Spaulding pf(7) Spear&Co pr(7). Spicer Mrg. . Spiegel Co (3) Std Com To(f1). StdG &k (3%). Std G & 1 pfid). Std Milling(5) Std U Cal(z%).. SOIINJI (T1%). StdOINY (1.60). Std Plate Glass. Sid P Glass pf.. bldsnnl’loll 68) Studebaker(5)., Studebak pf(7). Submarine Boat, Sun Oil (m1). ... iperior VIl uperlor Steel Sweels of Amer. Tenn Copper(1). ‘Texas Corpn(3). Texas Gulf Sul(s idewater AsOll TIdWASO1Ipf(6) Tidewater Of) 80 Tide W Oil pf(5) Timken(15). . Tobac Prod (8 ‘Lranscont Oil. . Trico Prod (2% Twin City RaTr. Udwa EI F(4).. Udwd-El F pf(7) 125 Un Bag&Paper. Union Carb(6).. Unton Pac(10).. Un Pacific pf(4) Utd Biscuit 1.60. Utd Cigar 8t(1). Utd Frutt(15%) U S Hoffman(4) U S Alcohol(5). U 8 IndAlf pt(7) U S Leather U S Leather A U $ Realty (4) U S Rubber. U S Rub Ist pf.. US Smelt (335). USSmpt(3%). U S Steel(7).. .. U S Steel pf(7). Uni Leaf Tob(3) Un Leaf T pf(8) Univ Pipe & Rad Ut P&L A(e2). Vanadium(t4).. Van Raalte pf Viek Chem(4). . Victor Talkg(4) Va-Caro Chem.. Vir-CarCh pf(6) Va-Car Ch pt(7) Vivaudou Co Vulcan Detin, Wabash. Waldort( Walworth(1.20) Ward Baking B Ward Bak pf(7) Warner Bros Pic Warner Plc A. .. Warner-Qu(2).. Warren Bros(4) Warren F&Pipe. Web & Hell. W' Penn 1 pf(6) West P Po pf(7) West DalryA(4) West Dairy B.. West Maryland. West Union(8). Westhse A B(2) Westinghse(4) Weston A(2)... White Eagle(2). White Motorsi1 - White Rock(2). White Sew Mach Willys Ov(1.20) Willys-Ovd pf 7 Wilson & Co. ... Wiison Co pf A. Wilson & Co pf. Woolworth(5).. Worthn Pump. . Wright Aero(2) 26% 66 18974 870 1674 38% 92% Dividend rates as given are the annual cash paym 189% 374 168 38% 92% Yellow Truck... Youngstn Sh(5) Plus : this year—no regular rate. 3 in a Pai able in k. _h Partly stocl k Plus 1/120 share _au: m Payable 1/10 share qua ed Cigar Stores cf [ MOTORS HOLD LEAD IN'STOCK TRADING :Active Buying of Industrials Also Features Strong Market. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, October 6.—Urgent buying of the motors and industrial specialties gave the Stock Market at the close of the week an appearance of pro- nounced strength. Nevertheless, it was noteworthy that whil2 the powerful in- lerests ck of the demand were ac- complishing their purpose in the fa- vorites, a good deal of realizing was taking place elsewhere. It was a mar- ket in which efforts to sustain public confidence were meeting little opposi- tion and In which the short interest was again being severely punished. In view of their earnings, present and prospective, the prolonged period of prosperity in the ‘industry and the tendency toward elimination of compe- tition and reduction of operating ex- pense through various mergers mainte- nance of leadership by the motor stocks was_logical. Chrysler, opening on a block of 3,000 shares at 138, was down a point at the outset but quickly rallied across the 139 level to a new high record for the present shares. Studebaker, opening on & block of 12,000 shares at 8414, was also at a new high, and finally crossed the 85 level on talk of an extra stock distribution. Hud- son Motor, which was behind most other prominent issues, rallied sharply, opening on a. block of 10,000 at 93 and subsequently crossing 94 for a gain of more than 4 points. Hupp Motors was responding to the highly favorable statement of operations of the first eight months. R ‘The announcement that the Radio Cornoration had acquired Keith-Albee- Orpheum came as a surprise to It was said that the negotiati been (imph‘lvd late yester Reports | had béen cirenlated only recently that Keith-Albee-Orpheum was to go to Warner Brothers. The price opened at 14 on a block of 5100 shares and sub- equently crossed this figure to a new top. The action of hoth Universal Pipe md Radiator and all classes of pre w(l‘ steel car issues clearly indicated that! they had a srtong support and that | fhere was more than mere speculative | wossip to the merger rumors involving these companies and Blaw-Knox. All Issues went to new highs. Coppers Active, ‘The coppers came in for considerable attention again, although improvement | was not pronounced. International | Nickel was a noteworthy performer, making a new high around 140. South- western Rails felt the effect of further slight liquidations, following announce- ment of the abandonment of the Loree merger plan. St. Louis & Southwest- ern was an exception and continued to work higher. Other rails were more or less neglected. Profit-taking was Hheaviest just be- fore the close. Even the early favor- ites in numerous instances were liqui- dated rather urgently, but the selling merely represented evening up of ac- counts where large profits had accumu- lated. Keith-Albee-Orpheum was a case In point, breaking well below, yes- terday’s final. General Motors was more than a point lower. SILVER QUOTATI(;NS 'ORK October 6 (#).—Bar | " Z\h"(«an dollars, 44. " DIVIDENDS. Rate Fiod, wble, i Company. record. Allis Chslmers Altorfer Bros.... " Bunte Bros pf Can Vickers Lid b Columbia Gas' & & 0. i Oct. 24 5 \\ Iule SFW Mrll »f Altorfer Bros. ‘ Manayunk Tr (Phil). In Ware Newport Co. Andes Copper.. SHORT-TERM SECURITIES. (Reported by J. & W. Sclllmin l: Cn Alum. Co, of Amer. Ss 1952, Amer, Tel. & Tel. 4s 1029 Anaconda Coppe alto, & Ohio 41ss 1 x.nv)-n et Corp. 41s 1943, . Bell Tel. of Cana s 55 1955. 1 t. Corp. 5los 1938, Nat. Ry, » Pack 5108 1 Duauesne mhnnr “30e158 Elson XL L. of Bost. 4%s 19 Erle Rwy. Co. 75 19%.. 10: Gen. Mot. Accev Curn B8 1937, n. Pet.’ Corp. 5s_1940. 10 Mass. Gas Co. 8143 194 New York Tel. 65 194! . 451939 uthe R, gllndnrd nu N ey Vb5 1848 Swift'& Co. Thign O1f Co- of O 85 1938 U. 8. Smelting Co. 513 1935, Western Electric Co. 53 1944, Westinghons E. & M. 53 1946, Wheeling Steel Corp. 5145 194 . FOREIGN EXCHANGE. B, Hibbs & Co.) (Quotations furnighed by Foin Salling cheeks value (or par). London, pound. 34,8605 Parls, franc. 193 Stoei Holm, " crowa. GERMAN BONDS AN];STOCKS. Speclal Dispafch to The Star. NEW YORK, October 6.— Bid. 55.00 Asked. 60.00 42.00 Ger Govt Red Loan with draw cits att per 100 "R AC Jer Govt 'Red draw ctfs per (Quoted Hambur, aaa Elect 4% et Cen Elect 3 Elect ui,. 1910 B & 4 Hamburg ‘American Llne orth German Liovd 4% rl';mnn S8, 192 FEDERAL LAND BANK BONDS. Special Dispatch to The Star. e 3 L d B 4s M ll!l-!l Fand penk '..:v'n e o t3 ' SFTTEES 238! & S . 19530p! Jan. 19540p34. nd Bank 4% Land Bank 4%g July 19340p: h&m £ o il 8333333338333238% FSLEEGTF ES53555555e53, FREEF POy Commodity Notes Steel. YOUNGSTOWN, Ohio, October 6.— Operations of the Youngstown Sheet & Tube Co., third largest steel producer in the country, are now ranging be- tween 80 and 85 per cent of capacity, both at the local and the Chicago plants. Hardware. ST. LOUIS.—Distribution of hard- ware throughout Southwestern terri- tory by local jobbers and wholesalers is proceeding at a fine rate. Stocks are small and sales about 4 per cent above those of October, 1927. Rubber. AKRON, Ohio.—Demand for tires is good despite the fact that automobile sales in this particular district show more healthy situation in the used- car market in this territory. WILL GRADE TURKEYS. Poultry marketing specialists of the Department of Agriculture have in- formed Washington dealers that they will be prepared to grade turkeys for the trade during the six days preceding Thanksgiving and Christmas. The grading will be done in accord- ances with rules and regulations of the Secretary of Agriculture, each turkey examined which meets the requirements of the grade being stamped on its back with a mark denoting its quality. Arrangements for the grading of tur- keys at Texas packing plants and ship- ping points are being made by the de- partment, and several chain store or- ganizations and distributers in North- ern markets have requested the Federal CORN HOLDS INTEREST OF TRADERS IN GRAIN By the Assoclated Press. CHICAGO, October 6.—For at least the time being corn is king of the grain trade. Just at present quotations on corn are showing about 12 cents a bushel advance over figures current a few weeks ago. Apparently, supplies of old corn throughout the country are well cleaned up, and domestic con- sumption of the new crop is already under way ahead of schedule, with a shortage of production in Europe giving promise of liberal transatlantic takings of corn from the United States, a com- bination not often encountered. Compared with one week back, the corn market this morning was 4 to 4%, cents up. Simultaneously, wheat showed % to % cent gain; oats were at 5% to 73 cent advance, and pro- visions varying from 50 cents decline to_a rise of 40 cents. Leading trade authorities were quoted today as attributing upturns in the corn market to widespread belief that prices have been too low, that the crop will not be as burdensome as expected earlier In the season and that brt!k demand exists at higher premiums for corn available to be used at once. It is added that from present prospects the quality of the country’s new crop will be the best in years, a circumstance which will permit extensive rural hold- ing if desired, whereas the last two years low-grlde corn has glutted the markets and pulled prices down. Copper Stock to Be Offered. NEW YORK, October 6 (4).—A block of Andes Copper Mining Co. stock will be publicly offered next week. The en- tire stock has been owned by Anaconda grading service this year. Copper Mining Co. W. B. HiBBs & COMPANY take pleasure in announcing the admission of KARL W. CORBY AS A GENERAL PARTNER AND . THILMAN HENDRICK AS A SPECIAL PARTNER October 1, 1928 APPLICATIONS INVITED for LOANS on - IMPROVED PROPERTY Located in the Disitict of Columbia and adjacent suburbs in Montgomery and Prince Georges Counties, Md. 515% INTEREST Apply to H. L. RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY OF AMERICA 1001 15th St. NW. Main 8100 V e sTORY Of ANCIENT BANKING The Banks of Florence In Florence, first attained the at the time of Lorenze the Magnificent, banking full dignity of a profession. To become an apprentice in the Bankers’ Guild a young man had to be a native of the city; to be vouched for by two sponsors; never have been arrested; be a prop- erty owner or heir; pay a high state: tax or entrance fee; and submit to an exacting examination of his knowledge and competence. And so the Florentine bankers be- came famous throughout Europe. Their agencies extended from Lon- don to Constantinople, and the gold florin, which they coined, hecame the standard of France, Spain and BASNENE value in Italy, Germany. The high standards necessary for the qualification as an early banker of Florence are symbolic of the rigid requirements which Swartzell, Rheem & Hensey Company demand of their first mortgage investments. Each mortgage note that you buy has been thoroughly investigated and tested by every device known to modern financing. This protection is here available to you without charge when you are ready to make your investment. RHEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET N.W. / WASHINGTON D.C,