Evening Star Newspaper, November 1, 1928, Page 14

14 ** JANK MERGER VOTE 15 DUE TOMORROW liggs Expected to Take Over Farmers & Mechanics’. Wardman Issue. BY EDWARD C. STONE. Tomorrow will be an important day 1 the history of Washington banking sstitutions. It is the date set for the fication by the directors of the “iges National ik and the ~armers & Me- chanics National Tank of the con- / Slidation proposal direc- recent i12etings. It is understood 1 the financial istrict that suffi- isnt proxies, in 1t many more han the required rumber, have been 1:ceived by the cficials of both Ianks so that the 1iorger is certain 1> go through without a hitch. The iwo meetings are to take place at 11 a.m. at the respective banks. Ratification of the consolidation wan will be the last step in uniting .ae largest bank in Washington and *me of the oldest, the Georgetown in- stitution having been in existence 114 vears. Only the National Bank of ’ashington and the National Metropo- i'an rival this bank in age. The plan of consolidation calls for =1 increase of the capital stock of the iggs National to $3.000,000. Part of e 5,000 shares of the new stock will > used to acquire the Farmers & Me- aanics and 3,500 shares will be offered » the stockholders in the consolidated astitution at $250 a share. President Robert V. Fleming of Riggs’ already announced that the present rsonnel of the Farmers and Mechan- in Georgetown, and of the bank’s nch in Friendship would be retained inder the merger. The officials of both banks believe that the important merg- cr will prove highly beneficial to each :nstitution, and are enthusiastically owaiting tomorrow’s action by the stock- holders. By the beginning of the new r Riggs' National plans to have cap- 1 and surplus evenly balanced at $3,- 000,000 each. $2,500,000 Wardman Bonds Offered. An offering was made in Washington and the other financial markets of the country today of an issue of $2,500,000 ‘Wardman Realty & Construction Co. 65 per cent debentures, due Septem- ber 1, 1938. The debentures are being offered at 98'; and interest, to yield 2bout 6% per cent, by Halsey, Stuart & Co., Hambleton & Co., A. B. Leach & Co., Inc.; Rogers, Caldwell & Co., Inc., and William R. Compton Co. The first offering for the organization was made late in September when an issue of $11,- 000,000 Wardman Real Estate Proper- ties, Inc., 612 per cent bonds were suc- cessfully placed by the same group. The Wardman organization, since its | inception in 1903, has constructed many outsianding buildings in Washington. The Wardman Realty & Construction Co. is actively engaged in all phases of the real estate business, having a con- struction, engineering and architectural division, as well as-a realty brokerage, management, insurance, appraisal and ~ental business. The company, in addi- “ion, owns all of the stock of Wardman “eal Estate Properties, Inc., which or- anization owns and operates five apart- 6 houses, four apartment hotels, in- luding the Wardman Park Hotel, the Wardman Park addition now under con- struction, the Carlton Hotel, and an nffice building leased to the United States Department of Justice. The proceeds from the sale of the cebentures will be applied toward the ~cquisition of the stock of the proper- “les company, to the acquisition of other operty and as working capital for 2 company, according to today’s an- uncement. ‘Washington Stocks Firm Today. ‘The local Stock Exchange opened to- >y with a 50-share transfer of Capital raction stock at 105%. The next sale + 25 100 shares of Chestnut Farms Dairy >ferred at 109. Potomac Electric 514 George A. Garrett Brunswick B(3) Brun Term rts.. Bucyrus(l).... Bucyruscv(2i) 42% 42% 42% 424 Bucyrus pf(7).. 118 THE BEVENING STAR, WASHINGTON, D. C, THURSDAY, NOVEMBER 1 FINANCIAL. Received by Private Wire Direct to The Star Office. Open. High. Low. Close. Abitibi Powr(4) 384 384 37% 384 Abitibi Po pf16) 83% 83% 81 8l Abrahmé&Straus 111% 111% 110% 110% Abr & Strausrts 2% 3 2% 8 Adams Exp (b).. 344 353 341% 541% Adv Rumley.... 47 48% 47 48 Adv Rumley pf. 67 58 57 59% Ahumada Lead. 3% 3% 3% 3% Air Redetn (13). 79% 8L 79% 81 Ajax Rubber... 8% 84 8% Alaska Junea. .. T Th T4 Albany Papr(2) 27% 27 2T% Allied Chem. ... 2: 228 224% 228 Allis-Chalm (7). 130% 130% 130% 130% Amal Leather pr 704 70% 0% Ameradai2).... 31% Am Agricul Ch 18% Am AgriCh pf.. 66% 66% Am Bk Note (2). 1323 132% 132% 132% Am BkNpf(3). 60 60% 60 604 Am Beet Sugar, 19 19 19 Am Bosch....... 33% 37h 354 Am BrSh(j1.60) 414 41% 40% Am Brown Bov. 135 Am Can(2).. 105% 107% Am Can pf(7).. 141 141 AmCar&Fdy(6) 9% 92 !AmC&Fpt(7). 118 118 118 118 Am Chicle(3) 92% 98 92% 93 Am Drug(80c).. 12% 12% 12 124 Am Encau T(3). 7 72 72 72 Am Express(6). 255 280 255 2734 Am & For Pow.. 45% 46% 45% 46 Am&ForP pf(7) 104 104 104 104 Am&ForPr2d7. 96 96 96 Am Hide & Lea. 9 9 9 Am Hide& L pf. 33% 33% 31 Am Home Pr(3) 17 8 6 Am Ice(t2%)... 41% 42% 41 Am Internatl(2) 121% 122% 120% 122% Am LaFr&Foam 8 T Tk Am Linseed.... 1267 126% 1267 1263 Am Locomot(8). 95 96 95 9543 Am Mac&Fy(4). 167 167 167 167 Am Metals(3) 49% 504 49% 49% 47 47, 46 46 84% 86 84% 86 Am Po&L pf(6). 102' 102% 101% 101% Am Radiator(5) 175 176 173 175% 142 142 142 142 69% T3% 694 T1% 3% T8% 2% T3% 28 28% 2T% 28% 4 27 Am Seating(3).. Am Ship & Com. 4 4 4 Am Shipbldg(8) 83 83 83 83 Am Smelting(8) 26814 270% 267% 267% AmS&Rpf(7). 138 135 138 138 Am Snuff(12)... 168% 168% 165 168 Am Stl Fdys(3). 57 58% 66l 5T Am Stl Fy pf(7) 110% 112 110% 112 Am Suga T2% T34 T2 73% Am Sugar 107 107 106% 106% Am Sumatra (3) 58% 534 58 58 Am Tel & Tel(9) 182% 183 1821 182% Am Tobacco(8). 170% 171 170% 171 Am TobaccoB(8 170% 172 170% 172 Am TypeFo(8). 139 141% 137% 139 AmWWEEIl(cl). 57% 59% 5i% 59% Am Woolen..... 22% 22% 22% Am Woolen pf.. 54 53% 534 Am Zinc. : 46% 45 4. % 1037 103% 103% 9 0% §8% 89% Andes Copr 75c.. 87% 37% 386% 367 Archer-Dan(3). 94% 95 9315 95 Arch-Dan pf(7). 113% 113% 113% 113% ArmourDel pf(7 92 924 91% Armour, I11(A). * 16% Armour, I1(B). 7% Armour,1ll pf(7) 84% Arnold Con &Co 40'% Art Metal(13%). 284 28% 284 Asso Dry G(2% 51% % 50% 507 Atchison(10)... 191% 191% 190% 191 Atchison pf(5). 104 104 104 104 Atl Coast L(110) 163% 163% 163% 163% AtlGuif & Wl.. 49% 49% 49% 49% Atl Gulf pf(3) 624 627 624 624 Atl Refining(4). 2234 22 222 223% Atlan Ref (n)... 56% 56% 55% o5% AtlasPowder(4) 81 82 B0% B80% Atlas Pow pf(6) 105 105 103% 103% Atlas Tack. . 12% 12% 12% 12% Austin-Nichols. 6 64 6% 6% AutoSalespf(3) 35 35 35 35 Balto & Ohio(6) 110% 112% 110% 112% Bambgr pf(6%) 109 109 109 109 Bang & Ar(3%) 68% 68% 68% 68% Bang & Ar pf(7) 110% 110% 110% 110% Barnet Leather. 33 47 33 45 Barnsdall A (2). 42% 43% 42 43% Bayuk 1st pf(7) 104% 104% 104% 104% Beacon Oil...... 20% 20ik 20 20% Beachnut(+3). 8% 8% 1% T8 Belg NRpf(16). 844 B84k 844 84% Best&Cot3)... 96} 98 96% 98 Bethlehem Steel 66 ~ 66% - 65 65% Beth Steel pf(7) 119% 119% 119% 119% Bloomingdale... 42 43% . 42%s 43% Booth Fisherfes. 9%a 9t 9% 91 Booth Fish 1st. 613 6l 61% 61% Borden Milk(6). 164 164 163% 163% Boston & Maine. 73% 734 73 3% Botany Mills(A) 17% 17% 17 Briggs MfgFCo. 49% 52% 49% b5l British Empire. 4% 4k 4% 4% Brockwy Mot(4) 69% 71% 69% 714 Bklyn-Man(4).. 66% 66% 654 66% BklynUnGas(5) 158 158 153 158 BrownShoe(2%) 47% 47% 47% 47% blls B4k 51% b3% 33% 33% 29% 81 b b % 33% 33% 33% 33% Th 84% 40% Brunswick Ter.. 13 113 113 °r cent came out at 109 and the 6 per <t issue at 113%. Thirty-five shares of Riggs National *\d at 570 and 10 more at 572. Five ¢! Union Trust moved at 337. Wash- 3ton Gas sold at 102} and 102% on nall lot transfers. Firemen's Insurance ). registered 38, Federal-American 3. ?\;glmon, 55, and Security Storage Mergenthaler Linotype was quiet, Jening &t 1007 and closing at 100%. ond trading was confined to Capital raction, Potomac Power & Gas issues recent levels. So many dividends ~re paid today that not a stock on the st was quoted ex-dividend. Member of Seven Exchanges. _George A. Garrett, resident partner Messrs, F. B. Keech & Co., started s banking carcer with Lee Higginson s Co. of Boston. He came to Wash- 13ton in 1914 as vice president and irector of the Dupont National Bank. {2 held this position until the United iates entered the World War, when e resigned and was commissioned as cutenant in the air service. In July, 1919, Mr. Garrett entered e brokerage business in Washington nd became a partner of his firm in 925. He is a member of the Wash- 1gton Stock Exchange, the New York ‘otton Exchange, New York Sugar and offeeExchange, Rubber Exchange of ~’ew York, New Orleans Cotton Ex- ange and an associate member of he Liverpool and Bremen Cotton Ex- changes. Land Bank Bonds on Sale. Public offering is being made today of a new issue of $15,000,000 10-30 year Faderal Land Bank 4'; per cent bonds at a price of 100 per cent and interest. ‘The bonds are being offered to the public by a country-wide group, com- posed of the 12 Federal Land Banks, in- vestment houses, institutions and up- wards of 1,000 dealers. The banking group is headed by Alex. Brown & Sons of Ealtimore, Harris, Forbes & Co., Brown Brothers & Co., Lee, Higginson & Co., The National City Co., and the Guaranty Co of New York. Heard in Financial District. Frank W. Stone, vice president of the National Savings & Trust Co., has re- turned to his desk from a three-week vacation, much of which he passed mo- toring in the Adirondacks. J. William Harrington of W. B. Hibbs & Cc is confined to his home with ill- ness. George E. Fleming, vice -president of the Union Trust Co., is expected home from Europe next week. William B. Buruss, for 19 years in the insurance business, is giving a series of Jectures for local insurance men at the auditorium of the Acaci Mutual Life Insurance Co. The lec- tures are sponsored by the District Life Underwriters’ Association and are arousing wide interest. West Virginia Concern Reports. The West Virginia Water Service Co., a subsidiary of Federal Water Service Corporation, reports gross revenues of $769,564 for the year ended September 30, 1928, as compared with $739,775 for the preceding 12 months. Operating expenses, maintenance and taxes, other than Federal income tax, totaled $428,- 910, as against $436,210. Gross income amounted to $340,564, which compares with $303,564 for the year ended Sep- tember 30, 1927, Buff Roch&P(4) Buff & Susq.... Buff&Sus pf(4). ssurns BrosA(8) 1254 125% 123 Burroughs(t4). Bush Ter de(7). 108 Bush Ter pf(7). 115 Butte Cop & Z.. Butterick Co.. 9813 085 98% 98% 44 46 44 50 53% 50 173 173 69% 71 108% 115 Bush Term(g2). 874 8 43% 43% 43 43 164% 156% 153% 153% Calif Packg (4). Ti% T4% 78 73 Callahan Zinc... 3% 3% 3% 3y Calumet&Ar(6). 115 116% 115 116 Calu & Hecla(4) 43% 437% 42% 43% Can Dry (14%). 76% 76 76k 767 Can Pacific(10). 218k 221% 2184 221% Canon Mlls 2.80. 47 47 46% 47 Case Threshg(6) 397 492% 397 49214 Cent Alloy(2)... 40% 41 .40 40 Century RIbM.. 19 20% 18% 20 Cerro de Pas(5). 102 103% 100% 101% Certain-Teed(4) 31% 31% 3814 31% ‘handler-Clev.. 17% 18% 17% 17% Chandler-Cl pf.. 24 24 23% 23 Ches & Ohio(10) 188 188 187% 188 C&OCorpn(3). 67% 67% 67 67 10% 11 10% 11 16% 17% 16% 17% 58% 58% 58 B8l 13% 13% 13% 134 30% B81% 30% 31% 33% 33% 334 50% 49 ' 87% 56 123 123 Byer & Co... Chi & East 11l pt Chi Great West. Ch1 Gt West pf. Chi Mil & St P.. Chi Mil & StP pf Chi & Nwn(4).. Chi Pne Tool(6) 123 Chi R1&Pac(6). 130% 133% 130 CR1&Ppf(6). 101 101 101 CRI1&Ppf(7). 108% 108% 108% 108% Chickasha (3) 50 50% 50 50% Childs(2.40).... 46 50 46 50 Chile Copper 59% 604 59% 60 Chrysler(3) 124% 127% 121% 1264 City St B56% stk 102% 103 101% 101% Cluett-Peab(5). Tl 72 % 72 Coca-Cola(6).... 169% 169% 1677 167% Collins & Afkmn 57ix 60% 574 60 Col Fuel & Iron. 63% 66% 63% 66 Col Sou 1st(4).. 77 hid 7 1 Col Sou2d pf(4) 7TI1% 71% 7% 7TI% ColGas & EI(6) . 121% 1264 121% 126 Col G&E pfA(6) 1067 1067 106% 106% Col Carbon(4).. 9l% 921 91% 92 Columb Carbrts 2 2l 24 24 Com Cred(1) 44 413 43% adn ComCrpfB(2). 26 26 26 CominvTr(3.60) 139% 140% 138 Com Inv (war).. 2% 29% 27% ComInTrpf6% 97 97 97 Com Solvents(8) 214% 214Y% 214 Com Powr(13).. 84 85 81 Conde Nast(2).. 76 6 Congoieum-Nair 26 Consol Cgrs(7). 91 Con Film pf(2). 25% Consol Gas(b).. 787 ConsolGaspf(5) 99% ConRRCuba pf 6 75 Consol Textile.. 4% Container A 1.20 20% Container B 6Uc. Cont Baking A.. Cont Baking B.. Cont Bak pf(8) Cont Can(6)...0 1 Cont Insur(6) 6 138% 29 97 9215 25% 79% 99% 6% 87l 1% Ba% 85% 17% 1 % 116% 8344 8315 4% , | Goodyear Tire. . Open. Del L & W(#7),. 127 Detroit £4(8).. 191 Detroit Ed (rts) 14% Devoe A (13.20). 51% Devoe&R 1st(7) 113 Diamond M(19). 165 25% Dua Lt 1st(5).. 101 Durham Hos.... 5 Durham Hos pf. 36% astman (18)... 180 Jastman pf . 125% Katon Axie(z).. 57 Eisenlohr&Bro. 56 Eisenlohr pf(7). 93% Eftingon (2%).. 36% Eitingn pfi6%). 109% Elec Auto L(4). 108 KlecPow&Lt(1) 5% EP&LDf 40% (7) 120% Elec P&Lt pf(7) 107 Elec Stor Bat(5) 87 Em Brantgm(A) 8% Eng Pub Ser(1). 44% Eng PuSpf(5). .91% Equit Bldg (2).. 33 EquitableTr(12) 451 ErleRR 557 58l 624 234 Erle 18t pf. . Bureka V(11%4). Exchange(1%). Fairbanks(3)... Federal M & Sm 156 Ked MotT'(f80c) 204 Fidelity-Phoenx 92l First NatS(1%) Fisk Rubber.... Fisk Rub 1st pf. iFieischmann(3) Fox Film A(4).. Freeport (t6%). Gardner Motor. . Gen Am Tnk(4). Gen Asphalt. Gen Cable. Gen Cable A(4). Gen Cable pf(7). 1 Gen Cigars(4) Gen Elec(15) GenElec sp(60c) Gen GasA(ol%) Gen Ice Crm(3). Gen Motors(17). 2 Gen Mot pf(7).. 1 Gen Qutdr Ad(4) GenOutdrAd(2). Gen Ry Sig(5).. Gillette S R(c5, Gimbel Bro: Glidden Co. 27% Glidden pr pf(7) 103% Gold Dust (5)... 103 Goodrich(4).... 78% Goodrich pf(7). 111% 8l Good T& R (rts; 7% Gotham(32%).. 84 Gothamnv 215 81 Gothm pf exwar 104 Graham-Paig: 42 Granby Min(4). Grand Stores(1) Grand Unfon.... 35% Grand Unpf (3). 5% Grant W T (1).. 116 Graselli (2.68).. 83% Grt North pf(5) 100% Gt Nor pfefs(5) 93 Grt Nor O(1%). 30% 324 « 189% Gulf Mo & Nor.. 46% Gu M & N pt(6). 100 Hacknsk W(1%) 24% Hanna 1st pt 87 Hartman A(2). Hartmn B(1.20), HavEl Ry pf(6). Hershey Corp... Hershey pr(4). 46% 11% 80% 0% 34y 8% 05 59% 167% 1t 61 97 8% 864 Holland Furn. .. Hollanger & Son Houshold(14).. 3 Houston Oll.... l‘él 6% Illinots Cen(7) Ind Oil (1%). Indian Refining. 31% Indian Refg ctfs 28% Indian Re pf(7). 160 ., Inland S(k16%). 71% Inspiration Cop. 29% InterboroRapTr 384 InterconRubber. 8% Internat Agri... 14 IntAgChpf (7). 78 Int Cement(4).. 7% Int Com Eng(2). 66% Iot Harv(j6).... 313 1424 101% 36 191% Inter Nick pf(6) 126 Int Paper(240).. 53% Int Paper pf(7). 94% IntPap cfs(2.40) 52 InPap pfefsc?) 91% Int Prtg Ink 2%. 48% Int Ry Cent Am. 46 Int Ry CA pf(5) 0% Intl Salt(5) 55 Int Tel & Tel 182% Inter Dept Store 62% Intertype (t1%) 27 Isiand Creek(4). 49% Jewel Tea (15). 1563% Jewel Tea pf(7). 124% Johns-Manv (3). 168 Johns-Manpf(7) 120 Jordan Motor... 13% Kan City South. 68 Kaufmn D §(1). 30% 1l 33 pL(7).. 100% Kelly-Spring... 2l% Kelly Tire 6%pt 87 Kelly Tire §%pf 84% 4T 12 Hayes(2).. Kelvinator Corp Kennecott (6).. Kinney (G R). Kinney pf (8). Kolster Radi Kraft(gll) Kre Kresge Dept 5.+ Kreuger & Toll.. Kroger Gro(cl). 124% Lago Of1. Lee Tire & Rub. Leh PorCmt 2% 474 Lehigh PCpf(7) 108 LehighVal(3%) -95 Lehn & Fink(3). 56% Life Sav(1.60).. 40% Lig Myers(15).. 90% Lig&Myrs B t6 88 Lima Locomtve. 427% Liq Carb (14%). 78% Loew's(13) 61% Loft 10% 694 274 124 52% Loose-W (1. Lorillard Co. Louisiana O1l. LoulsGasA(1.75 Louls & Nash (7) 140 Ludlum 8t1(2).. 83 McAndrews 2.60 48% McCrory A(2).. 99 McKeespt Tin Pl 6615 Mack Truck(§). 92' Macy Co (2).... 174% Mad Sq Gar (2). 224 Magma Cop(3).. 60% Mallison & Co... 33 Manati-Sugar pt 421 Man Elec Suply. 36% Man El m2g(d3) 45 Aan Shirt(2)... 354 Maracaibo Of Marland Ofl. . { Marlin-R(t3% Martin-Parry . Mathieson(6). May Dept S(4) Mayatg (1%). .. Maytag 1st pf(6) Mengel Co..... Mexican Seab. Cont Mot (80¢). 16% 16% Corn Pro(13%). 8% 85 Corn Prod pf(7) 141'% 142 Cructble St} (5). 76% 77 6l 77 CubaCaneSugar. 5 5 4% 4 Cuba Cane Su pf 16% 17% 16% 1%% Cuba Company.. 22\ 23% 224 23% Cuban Am S(1). 16% 174 16% 17% Cudahy Pkg(4). 2 4% 65 64% 65 61 15% 16 844 B4l 1417% 142 Curtiss Aero(1) 125 126% Cutir-Ham(33%) 60 60 60 Cuyamel Fruit. 61% 61 61% Davison Chem.. 9 59% 58% 69 Debenhms(2.18) 39% 30% 3% 394 Del & Hud(9)... 187 190 187 190 Miami Cop(1),. Mid-Continent. ., Mid-Cont pf (7). Middle Stat M1d States Midland pf(t12 Aller Rubber.. Minp & St Louls Minn StP&SSM. M St P&SSM pf. Mo Kan & Tex. . Mo K&Tex of(7) Missour! Pacific Missour! Pac bt Mohwk Car 2%. 42 High. Low. 128 191% 14% b1% 2% 127 191 14% Close. 128 191% 14% 515 1124 MontgmryW(t5 Moon Motor.... Mors&Esk(31%2). Mother Lo(30c). Motton Pic Corp Motor Meter A.. Motor Prod (2). Motor Whi(2).. Mullins Mfg. Munsingwr(3). Murray Corp... Nash Motor (16) Nash & Chat(7). Nat Acme (sta). Nat Bellas Hess Natl Biscuit(17) Nat Cash R A(3) Nat Dairy(3)... Nat Dept Stores Nat Distillers. .. Nat Distillers pf Nat Enamel & S Nat Lead(5).... Nat Lead pfA(7) Nat Pow&Lt(1) Nat Radiator. .. Nat Supply(16). Nat Tea(4). evada C(1 ¥ Central(8). C & StL(6). CStL pf(6) & Harlm(5) NH&H (2). N'Y NH&H pf(7 N ¥ Ont&Westn N ¥ Stm pfA(7) Norfolk South. . Norf & Wn(+10) NorAm b10% st} North Am pf(3) NorAm Ed pf(7) North Pac (5).. Nor Pac efs(5). Norwalk Tire. . 01 Well Supply 01l Well 8 pf... Omnibus OppmCollins(f4: Otis Elev(17).. Otis Elev pf(6). Ouis Steel.. Owens Bot(ct4) Pacific Coast. ... Pac Coast zd pt. Hacifc Gus(2).. Pac Lightg (3). Pacific Mills. Pac O1l Stubs. ., Pac Tel & T(7). Packard Mo(14). Pan-Am Petrolm Pan-Amer Pet B Pan-Am Wn B., Panhandle Panhandle pf... Paramourt-Fam Park & Til (13). Park Utah(80c). Pathe EX.... Pathe Ex(A)... Patino M(2.92). Peerless Motor. Penlck & For Penn C&Coke. . . Penn Dixie Cmt. Penn RR (3%). People's Gas(8). Peoples Gas rts. Pere Marq(18).. Phila & RC& 1. Phil Morris(1).. PnillipsPet(1%) Pierce-Arrow pt Pierce Oil Pierce Ol pt. Pierce Petrolm. Pillsbury(12.10) Pitts Coal...... Pitte Coal pf.... Pitts Term Coal Pitts& WVa(6).. PortoRicoTobA . PortoRicoTobB. Postal T&C pf 7. Postum (3). Pressed Stl Car. Pr Stl Car pf(7). Produ & Refinrs, Pub Serv NJ(2). Pub Serv pf(6). Pub SE&G pf(6) Pullman Co(4).. Punta Aleg Sug Pure Ol (1).... Pure Oll pf(8).. Purity Bak(3).. Radio Corpn. . .. RadioCo pf(3%) RSINCefs(4). Reading Ry (4).. Reading 1st(2).. Reading 2d(2) Real Silk pf(7). Rels (R) & Co... Remingtn-Rand Rem-Rd 1st(7). Reo Mot (1134). Rep 1 &S(4).... Reynolds Spngs. ReynldsTobB(5) RhineWstphalia Richfield O11(2). Rossia Ins(5)... Royal D(a3.222) St Jos Lead(13). StL & SenF(18). StL & SFr pf(6) . StL&Southwest. Savage Arms(2) Schulte (j3%) Schulte p£(8) Seab Air Line. .. Seab Air L pf... Seagrave(el.20) Sears-Roe(i2%) Seneca Copper.. Shattuck FG(2). Shell Gn(1.40).. Shubert The(5). Stmmons Co(3). Simms Pets Sinclair Oil. Sinclair pf(8) Skelly Oil(2)... Snider Packg Co 8o Po Sug(f21). South Calif Ed.. South Dairies A. South Dairies B. South Pac(6)... South Ry (8 South Ry pf(5). SouRyM&Ocfs 4 Spang Chalfnt.. Spang Chal pt. Spicer Mfg..... Spiegel Co (3).. Std Com To(f1). SdG&E (3%). StdG & Epf(4). Std MILlIng(6).. N N N N N N Std P Glass pf.. StdSanPro(1.68) Stanley CO.ue... Stewart-War (6. Strom Car(2). .. Studebaker (5).. Sun Ofl (m1). Superior Oll. ... Superior Steel. . Sweets of Amer. Tenn Copper(1). Texas Corpn(3). Texas Gulf Sul(4 Texas & Pac(5). Tex Pac C & Oll. Tex Ld Tr(new) Thatcher Mfg The Fair (. Tidewater TidWAsOlIpf(6) Tidewater Ofl 80 Tide W Oil pf(5) Timken(16). ... Tobac Prod (8) Tobac Prod A(7) ‘Tob Prod cfs(A) Tob Prod ctfs B. Tob Prod ctfs C. ‘Lranscont OIl. .. Transue & W (1) Trico Prod(23) Truscon Steel Twin City RaTr. Twin City pf(7) ‘Underwood (4)., Un Bag&Pape: Union Carb(6).. Un Pacific pf(4' Utd Biscuit 1.60. Utd Cigar St(1). Utd Fruit(153%) Utd Paperboard. U 8 Cast Ir Pipe U S Distributing U S Hoffman(4). U 8 Alcohol (8).. U S Leather..,p Open. 338 6% 83% 3% 10 19 160 874 501 110% 9% 176 Nat Surety(10). 2 2814 101 10% 801 NEW YORK STOCK EXCHANGE . High, Low. Close. 345% 333% 314 i 6% 232% 2 1 15 152% 5 17% 48% 129% 83% 4 113% & 129% 228% 95 138% STOCKS SHOW GAIN INBUYING MARKET Favofable News Develop- ments Bring About Upturn During Morning Hours. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, November 1.—A wave | of buying, which had its inception im- mediately at the outset, swept through the stock market this morning. The element working for higher prices dis- played no hesitation in coming in on Developments in the overnight news were for the most part favorable. Con- siderable significance was attached to the announcement of the plan of the Pennsylvania Railroad for the electrifi- cation of its entire system between New York and Wilmington. ~Westinghouse Electric, which is thought will be the chief beneficiary of equipment orders, opened on a block of 5,000 shares al- most 2 points higher at 1153 and sub- sequently crossed 116 to the highest for he present shares. = General Electric was bid up several points. As a group the metal stocks were the favorites and the demonstrations on the buying side of such issues as Interna- tional Nickel, Anaconda, Kennecott and American Smelting & Refining were | Polish legation reports. the buying side, with the result that | prices were bid up sharply in the is-| | sues selected for leadership. Wall Street Briefs The steel industry enters November with ingot production Tunning at bet- ter than 87 per cent of capacity. This compares with 86 per cent a week ago and nearly 88 per cent two weeks ago. The gain is ascribed to increased ac- tivity of independents, now operating around 88 per cent of capacity, a gain of more than 2 per cent over a week ago. Bethlehem is running at 94 per cent of capacity. Two weeks ago in- dependents were at 88 per cent. Pierce-Arrow Motor Car Co. of Buf- falo reports October shipments of cars and trucks were slightly more than double those of October, 1927, with truck shipments showing the highest monthly total of this year. Since Au- gust shipments of units have been about 800 a month. Output of Poland's sugar industry in- creased more than 14 per cent in the sugar year just ended, in response to the greater domestic consumption, the In the first 11 months of the sugar year, from Octo- ber, 1927, through August, 1928, the to- tal consumption was 327,000 tcns, against 286,160 tons for the correspond- ing period of 1926-27. The National City Co. announces the private placing of 90,000 shares of the newly formed Boeing Airplane & Trans- port Corporation’s 6 per cent cumula- tive preferred stock, series A, and 27.000 shares of common in units of 10 pre- ferred shares and three common at $590 a unit. The company is a con- solidation of the Boeing Airplane Co., Boeing Air Transport, Inc, and the Pacific Air Transport, all Pacific Coast concerns, Standard Commercial Tobacco Co., Inc., of New York, which has been en- gaged solely in importing and selling Teaf tobaccos, announces it will shortly impressive. Crossing 195, International Nickel sold at its highest was up some 5 points from the previous final. Anaconda, above 90, was turned over in enormous volume at its best since 1916, and Kennecott, above 125. | reached its best for all time. Talk of 19-cent copper before the year end, competitive bidding for the metal at the current price level, and the knowledge that under the present demand there was only one week’s domestic share on hand were factors in the speculative calculations. . Low. Close. 577 Uni Pic 1st pf(8) Univ Pipe & Rad Util P&L Ace2). Vanadium (14). Vick Chem(4) . Vicksbg S&P(5) Victor Talkg(+) victor pr pf(7). Va-Caro Chem.. Vir-CarCh pf(6) Vivaudou Co. ... Vule Det pf(7).. Wabash RR.... Waldorf (1% ) Walworth (1. Ward ClA(8). .. ward Baking B. Warner Bros Pio Warner Pic A... Warner-Qu(2).. Warren Bros(4) Warren F&Pipe. Web & Hell..... Wes 0&Sno pi7. W Penn I1 A(7) W Penn El pf(6) W Penn El pf(7) 110 West P Po f(7) 115% West Dairy B... 30 in history and | | manufacture a new cigarette blended for European consumption. President | E. Kehaya is reported to have developed | the new blend himself. The company | recently signed a contract for the gov- ernment tobacco monopoly of Czecho- | slovakia. Stockholders of the Van Raalte Co., Inc., of New York, importer and manru- facturer of gloves and silk and knit goods, today approved plans for increas- ing the common stock to 100,000 shares from 80,000 and granting company of- ficers the right to purchase the addi- tional 20,000 shares. Increase in the number of directors to 15 from 11 also was approved. Iron Age lists as encouraging fea- tures of the iron and steel market the impending purchases of railroad equip- ment, seasonal orders for rails, sus- tained demand for pig iron that has forced prices to higher levels and fur- ther signs of strength in finished ma- terial, particularly bars. It is pointed out, however, that there are evidences of tapering operations in the automobile industry, and indications of gradual re- duction of mill backlogs, with shorten- ing of deliveries. Advance in heavy steel scrap prices at Pittsburgh was in- terrupted by a 25-cents-a-ton decline. Iron Age compositive price for fin- ished steel has advanced to 2.369 cents a pound, the highest since June, 1927, from 2.362 cents. The pig iron com- posite has risen to $18.25 a ton from $17.92, marking the first time it has , | crossed $18 in more than a year. Directors of the Studebaker Corpora- tion yesterday declared a dividend of $1.75 a share on the preferred stock and $1.25 a share on the common stock. The_ dividends are payable December 1 to stockholders of record November 10. This is the seventy-first consecutive quarterly dividend on preferred stock and the fifty-fifth on common stock. The Western Public Service Corpora- tion of Pittsburgh, Pa., has been or- ganized to serve southern Idaho and CHICAGO LIVE STOCK MARKET CHICAGO, November 1 (#) (United States Department of Agriculture).— Hogs—Receipts, 30,000 head; market mostly 10a15 higher; active at advance; top, 9.40, paid for an occasional load of around 230 pounds; butchers, me- dium to choice, 250-350 pounds, 8.75a 9.35; 200-250 pounds, 8.85a9.40; 160- 200 pounds, 8.6529.35; 130-160 pounds. 8.20a9.20; packing sows, 8.20a8.60; pigs, medium to choice, 90-130 pounds, 8.15a 8.90. Cattle—Receipts, 13,000 head; calves, 3,000; strictly choice yearlings and medium-weight steers reached 18.00: such kinds strong to higher; Eastern shippers making market on a meager supply of finished steers; in-between grade and lower grades of she stock weak to lower; slaughter classes, steers, good and choice, 1,300-1,500 pounds, 14.00a17.75; 1,100-1,300 pounds, 14.00a | 17.75; 950-1,100 pounds, 14.00a18.00: common and medium, 850 pounds up. 850a14.00; fed yearlings, good and choice, 7502950 pounds, 13.75a17.25; heifers, good and choice, 850 pounds down, 13.50a16.25; common and me- dium, 7.75a13.50; cows, good and choice, 8.75a12.00; common and medium, 6.75: 8.75; low cutter and cutter, 5.50a6.75; bulls, good and choice 11.00; cutter to medium. vealers (milk fed), good and choice, 13.00215.00; medium, 12.00a13.00; cull and common, 8.00a12.00; stocker and feeder steers, and choice (all weights), 10.50a12.50; common and medium, 8.50a10.50. Sheep—Receipts, 18,000 head; total slaughter supply receipts burdensome; early fat lambs sales mostly 25 lower; throwouts 25a50 off; sheep slow; feed ers steady; lambs, good and choice (92 pounds down), 12.60a13.60; medium, 11.50a12.60; cull and common, 7.25a 11.50; ewes, medium to choice (150 pounds down), 4.25a6.60; cull and common, 1.75a5.00; feeder lambs, good and choice, 12.25a13.30. NEW YORK BANK CLEARINGS. NEW_YORK, November 1 (Special). —New York bank clearings, $1,900,000,- 000; New York bank balances, $169,- 000,000; New York Federal Reserve crecit balances, $123,000,000. —_— Oxford, England, University debating team is making a tour of the United $tates. Money to Loan Secuted by first deed of trust on real estate. Prevailing interest and commission. 420 Wash. L. & Trust ‘_'O"Ph L. Weller 47 Fast. & & Now LOANS Let us have your applications “LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks f for itself. Percy H. Russell Co. 1731 K St. N.W. NEW YORK PRODUCE MARKET NEW YORK, November 1 (Special).— New York white Danish cabbage sold in bulk at 35a38 rarely 40 per ton. Yellow onions of small to medium size from Orange County wholesaled at 2.50a3.25 per 100-pound sack. Ar- rivals from the Middle Western States commanded as high as 4.25. Western New York celery in the rough packed in two-thirds crates jobbed out at 2.25a2.75, occasionally 3.00a3.25 on the good to fancy and 1.25a2.00 on the poor and ordinary. Carrots from the Middle Western States changed hands in car lots at 2.60a2.65 per 100-pound sack. Upstate offerings in bushel baskets brought 1.25a1.50. Western New York lettuce sold in crates of 24 heads of the big Boston varfety at 2.00a2.50 on the best stock. California, iceberg type sold at 4a5; occasionally as high as 5.50. Hubbard squash peddled out at 1.50a3.25 per barrel, depending upon size and color of stock. The marrow variety brought 1.75a2.50. Plan Cotton Unit Change. NEW YORK, November 1 (#)- The New Orleans Cotton Exchange has appointed a committee to consider the proposed change in unit of contract trading to 50 bales. INSUR FULL PAYMENT ERTAINLY none of your material posses- sions is more worthy of in- surance against loss than the money you are setting aside to protect and en- hance your own and your family's future. When' you buy Guaranty First Mort- gage securities full pay- ment of your principal and 6% interest is insured by an unequivocal guarantee backed by our own capital, surplus and reserves of more than $3,400.000. De- nominations: $1,000, $500, $250 and $100. Maturities from 1 to 10 years. De- scriptive circulars on re- quest. - REALESTATE MORTGAGE & GUARANTY CoRPORATION Capital Resources $3,400,000 24 JACKSON PLACE ou MORTGAGES THERE ARE NO “THRILLS” in _investing money in r First Mortgages. You know exactly what to ex- pect of them—in interest earned; and when to expect it. It’s. this security that gives our West Maryland. West Pacific pf. West Union(3). Westhse A B(2) Westinghse(4). Westhse 1st(4). Weston Electric White Eagle(2). White Motors(1 White Rock(2). White Sew Mact White SM pt(4) Wilcox Oil & G. . Willys-Ov(1.20) Wilson & Co. ... Wilson Co pf A. Wilson & Co pf. Woolworth(6).. Worthn Pump. . Wright Aero(2) Yale & Twne(5). Yellow ‘I'ruck... 836% 36% 36 Youngstn Sh(5) 90% 90% 90% Hourly Sales on N. ¥. Market. 1lam. 711,500 12 noonl.401.900 1p.m.. 1,928,500 2 p.nu 2,396,100 Diyidend rates as given in the above table are the annual cash payments based on the e latest, quarterly or hal pUnit of trading . 2 Plus 4% central Utah with natural gas. The holding company will have a capital stock of 2,000,000 no par-shares. Gillette Safety Razor Co. of Boston stockholders have approved increasing the capital to 3,000,000 no par common shares from 2,000,000 and payment of a 5 per cent stock dividend. Stockholders will receive 100,000 shares December 1. New York and German bankers have organized the International Marble Corporation in Delaware to operate marble properties near Lasa, Italy. Owver a Third of a 6% FIRST MORTGAGES —first consideration with men and women who want assured income without anxiety and concern as to the return. 'B. F. SAUL CO. Main 2100 925 15th St. NW. Century Y Without a 199% 38% 167 66 198 38% 164 6574 ‘Consult Us First Loss If you need money for your Real Estate financing let us have your application today. 162 65% 166 637 864 90% Prompt Service No Appraisal Fee The Commercial National Company Incorporated Paid up Cash Capital. $900,000 Qank Blde. 1+ Partly extra, £ n preferred stock: a Paid this ye stock, _g Plus . _h Partly stock. | Plus 20, share quarterly Stock: KBS ol 11710 ahare “doarinly i United Cigar Stores common stock. 13 % in stock THERE 1s NO SUBSTITUTE FOR SAFETY Commereial National 14th and NEW ISSUE’ Exempt from. Federal, State, Municipal and Local Taxation $15,000,000 Ten-Thirty Year Federal Land Bank 4%% Bonds Dated November 1, 1928 Due November 1, 1958 NOT REDEEMABLE BEFORE NOVEMBER 1, 1938 Interest payable May 1and November 1 at any Federal’Land Bank or Federal Reserve Bank. Principal payable at the Bank of Issue. Coupon and registered bonds (interchangeable) in denominations of $10,000, $5,000, $1,000, §500, $100 and $40. Redeemable at 100% and interest at any time on or after November 1, 1938, The Supreme Court of the United States has upheld the constitutionality of the Act creatin| the Banks and exempting these Bonds from !‘?:i‘aal, el State, municipal and local taxation. ACCEPTABLE BY TREASURY : These Bonds are acceptable by the United States Treasury as secur- ity for Government deposits, including Postal Savings Funds. LEGAL FOR TRUST FUNDS: The Federal Farm Loan Act provides that the Bonds shall be lawful investments for all fiduciary and trust funds under the jurisdiction of the United States Govern- ment. They are eligible under the laws of many of the States for investment of all public and private funds and have been held eligible for investment by savings banks in 37 States. While these Bonds are not Government obligations, and are not guaranteed by the Government, they are the secured obligations of Banks operating under Federal charter with Governmental supervision, on each of whose boards of direction the public interest is represented by three directors appointed by the Federal Farm Loan Board. At thetequest of the Federal Land Banks, with the approval of the Federal Farm Loan Board, and in cooperation with and on behalf of the Federal Land Banks, we offer these Bonds: Price 100% and interest, to yield 4%% Alex. Brown & Sons Harris, Forbes & Co. Brown Brothers & Co. Lee, Higginson & Co. The National CityCompany Guaranty Companyof New York ‘Thestatements contained herein, while not guaranteed, are based upon information and advice which we believe to be sccurate.