Evening Star Newspaper, November 4, 1928, Page 38

o8 THE SUNDAY STAR. WASHINGTON. D. €. NOVEMBER 4. 1928 -PART T’ — - UPTALTRAGTION | Wholesale Market ’Mll’kct News Service Bureau of the De- pn'r‘}mem._ of Agricultural Economics) said: 3 Apples — Suppli liberal; demand light, market about steady. Boxes—ash- Boxes— First Trading in Riggs Bank wi g merom o fares stze: exira |fancy Delicious, 3.00a3.25, mostly 3 Warrants Also Recorded on | extra fancy Jonathans, 2.5 Local Exchange. e fancy Jonathans, small to very lage size, 2.00; large to vel fancy Romes, 2.50a2 kets—Virginia and Penns an. 1, 215 inches up, Grimes, — al e b 4 inchas up. 1.50: U. S. No. 1, Y DWANR, U, 550 !inches up, Grimes, 1.00al. The “best minds” on ths Washinaton | yap:, ssifie ans, Stock Exchange struggled desperately | Lonun, ‘Snclassified, Staymans, vesterday with the first sales in RIgSS | Gabbage—Supplies moderate: tional Bank warrants, Just listed N | moderate, market steady: New the local board as {90-100-pound sacks Domestic, | type, 2.0022.25; Pennsylvania, b hundredweight. Danish type, 2. Celery—Supplies moderate light, market steady; New York, 2 atcs, mostly around 3.00; California, crates, 5.00a5.50. Grapes—Supplics moderate; demand {light, market steady; California, luzs, | Flame Tokays, 1.50a1.60; New York, new warrants is quart climax baskets, Concords, 14al5; comparatively sim- | California, lugs, Muscats, 1.00; lugs, ple when they { Malagas, 1.50. represent f u 11 Lettuce—Supplies light: demand mod- shares of st erate, market steady; California, crates, But it is a far Iceberg type, 4-5 dozen, good quality different matter |and .condition, 5.0085.25; fair qualit; when partial war- some leafy, 4.25a4.50. rants, instead of Onions — Supplies light; demand full warrants, are light, market firm; Michigan and Indi- desired. Fractional ana, 100-pound sacks, yellows, U. S. warrants are giving the leading mathe- | No. 1, mostly 4.00; some fair condition, maticians on the exchange severe cases |3.75; New York, 100-pound sacks, yel- of brain fever. How to record the sales |lows, U. S. No. 1. 3.75a4.00. so that the public would understand| Potatoes—Supplies moderate, demand what was faking p'ace proved another | moderat>; market steady: Penn. - puzzle which was cleared up only after [ vania. 150-pound sacks, round white: lively argument | United. States No. 1, 1.90a2.10 The warrants were quoted at 290 bid , York, 150-pound sacks, round white: and 205 asked. Most ‘of the trading| Unitsd States No. 1. mostly around yesterday was in fractionsl shares. The | 2.00: Mich’gan, 150-pound sacks, Ru; warrants will remain on th> exchange | Set_Rurals, Unit>d States No. until December 10 when the options expire. institution 2 | took over th ven- erable Farmers & 3 Mechanics National | i Bank of George- 2 | town. Trading in these Rebert V. Fleming. 28, Sweet potatoes—Supplies moderate. demand slow, maket dull: nearby 4 | an K fchange matte 3| as the oldest living Semand | & matter | | rectors | securities | chairman each session for bids »nd | bership was further increased by the D. C. STOCK EXCHANGE SEATS HAVE FLUCTUATED IN PRICE | FRange Has Been Between $25 and_ 310.000‘ Recalls Start BY I A. FLEMING. Albion K. Parris. generally known | ‘ Since Early Days—Parris just as Potomac Electric shares are held ay. ‘There was always considerable in- Penneyi® | 2Mong the bankers, brokers and In-, terest in the shares of the Washington 1" Parris, has long been | Gas Light Co., but the price now cur- on | rent is the record for high. It was never E: | reached before or anywhere near it, | save in a bull campaign started by | Thomas Hume, when it advanced to 98. | amid enough excitement to draw scores of holders to the daly sessions of the Exchange in the old Adams Building. | The result of this manipulation’ was by 0 means a pronounced success, as the y { Yeverse rebound followed too quickly | petitor in this line | for many to take advantage of the rise | being Charles C. § | to realize thereon. Glover, chairman E: | of the board of di- of the Riggs National Bank. Blessed with an excellent ~memory Mr. Pairis has long hee\; Iohmi of Albion K. Parris. telling of the early days in Wash- o ington _financial and seeurity circles| N the history of the Exchange pr that came under his observation. | pared by Messrs. Parris and Mearns the R ml%r:fl‘i)!rli‘::: A Meerns he compiled | names of five men attending the pre- istory e shington loc] X= " Change In’ 1900, from which a numbsr | MinAry organization meeting were of articles were recently prepared, duly | §iven as D. W. Middleton, H. D. Cooke, accredited and published in the finan- | A. E. Bateman, John W. Corzon and cial columns of The Sunday Star. | H. E. Offiey. while two days later G. M. As the junior member of the firm | B. White, Charles L. Bradley, Charles ©. of Crane, Parris & Co.. “Al” executed | Williams. F. C. Middleton, S. E. Wil- all orders on the Exchange, and | liamson, W. H. Barnard, James W. Ker, “chaffed” with the rest of the listless | Jay Cooke, jr.; Charles C. Glover, Lester brokers in the days when orders were | Bartlett, J. Stanley Brown and B. H few and far between, as the list of | Warner were present in addition to the must be ‘“called” by the | original five. On November 2 the mem- | vestors as authority | local Stock holding the record member, so far as of con- tinuous member- ship is concerned, his nearest com- curity prices during Mr. Parris’ long carcer was the advance in Railway & Electric common, over $350 a share, in- | cident to the purchase of control of the | common stock of the Washington Rail- way & Electric Co. by the North Ameri- can Co. Organization. The most sensational advance in se- | Mechanics Bank Stock Off List. i At a meeting earlier in the week the board of governors of the exchange ordered that “there be admitted to trad- ing Riggs National Bank warrants en- | titling the holders of 26,500 shares to subscribe to 3,500 shares at the rate of | $250 for each new share: further that| the trading be in units of a warrant to subscribs to one full share, the com- | mission to be $1.50 for a full warrant| and 50 cents for any single fractional order; that is to say, for any order to buy less than one full warrant.” At the same meeting it was voted that the stock of the Farmers & Mechanics | National Bank be siricken from the list, this action being due to the merger of the two banks. Only three shares of Farmers, & Mechanics stock have been sold on the exchange this year. The Jow for 1928 is 325 and the last sale! ‘was made at 330. Capital Traction Climbs. Other sales on the Exchange yester- | y included Capital Traction, which | scored & new high on the present move by selling at 106 in a 74-share turn- over. Chestnut Farms Dairy preferred came out at 109, Potomac Electric| Power 6 per cent preferred at 113%, | while the 512 per cent issue moved ai 109. Railway & Electric preferred cnme‘ out at 1094 and closed at 109';. Mer- genthaler Linotype sold at 1003 and | 1005 Ten shares of Sanitary Grocery | preferred registered 151'2. The only bank stock transfer was in Merchants Bank & Trust, at 15734, Fertilizer Executives to Meet. Charles J. Brand of this city, execu- | tive secretary of the National Fertilizer Assocfation, announces that 300 leaders | in the industry will meet at the fourth annual convention in Atlanta on No- vember 13 and 14. ‘The outleok for business in the South ‘will be one of the chief topics discussed. M. Markham Glannery of Washington, chief of trade practices conferences of the Federa! Trade Commission, will dis- | euss “Trade Practice Procedure.” i “The Economic Outlook” will be pre- sented by the economist of the associa- tion, W. Arthur Shelton of this city. Harry C. Butcher, Washington, manag- ing editor of the Fertilizer Review, puolished by the association, will pre- sent the results of a special survey of the advertising activities of the fertili- zer industry, which will show for the first time how the industry apportions its advertising with farm papers, city gapers. trade journals and for direct- y-mail campaigns. “Agriculture’s Posilion on Muscle Shoals” will be outlined by Chester H. ‘Gray, Washington representative of the American Farm Bureau Federation, and “Government Relations to Our Indus- try” will be presented by Charles J.| Brand. Financial District Jottings. Robert V. Fleming, president of Riggs National and of the District Bankers' Association, was one of the busiest bankers in the city during the week. Details of the consolidation of his bank and the Farmers & Mechanics required a vast amount of work in advance of the ratification vote by the stockhold- ers. The merger brought two more| benks under Mr. Fleming's guidance and placed that much additional re- sponsibility upon his broad shoulders. | ‘The Commissioners of ih2 District of Columbia have notified Eliot H. Thom- | son of the Washington Loan & Trust Co. that he has been made a mem- ber of the board of managers of the, Citizens' “ Relief Association. | The Chicago, Terre Haute & South- | eastern Railway has been authorized by Interstate Commerce Commission to jssue $951,000 first and refunding mortgage 50-vear 5 per cent gold bonds | to be delivered to the Chicago, Milwau- | kee, St. Paul & Pacific in reimburse- ment for expenditures. October output of motor vehicles is estimated at 397,000 units, compared with 434,915 in September and 227,510 in October last year. by National Au- tomobile Chamber of Commerce. Pro- duction in first 10 months this year . was 4,068.727, surpassing 1926 record of 4,062,110. WHEAT VALUES DROP. Maryland bushel hampers, Nancy Halls, 1.00a1.25: East Shore Virginia, clothtop barrels, yellows, No. 1, 2.50a3.00: nearo; Maryland, bushel baskets, 1, 1.00. Cucumbers—Supplies very light; sales reported. String beans—Supplies light; demand moderats, market stead: Florda bushel hampers, refugees, less, 6.00; Virginia, Norfolk section, peck hampers, stringless, 6.0026.50; Louisiana, 73-bushel hampers, Black Valentines, 4.50. Eggplant—Supplies very light; sales reported. Peppers—Trucked in stock supply- in7 market. Cauliflower—Supplies moderate; de- mand moderate, market steady; New York, Long Island, crates, 2.50a2.75. Carrots — Supplies light; demand moderate, market steady; California, ‘Wostern lettuce crates, bunched, 3.00a 3.25; few fancy, 3.50a3.60. ‘Tomatoes—Supplies limited; demand moderate for good stock, demand slow for ordinary stock, market steady; Cali- fornia lugs, turning and green, wrap- ped, 3.00a3.25; few higher. 10.000 HUNGARIAN JEWS EMBRACE CHRISTIANITY| no no | Declared to Have Accepted Conver- | sion Voluntarily, According to Recent Statistics. BUDAPEST (#.—Recent ctatistics | show that 10,00 Hungarian Jews have forsaken their -faith and embraced Christianity. ‘Their conversion was completely vol- | untary. They found that after the| collopse of the short-lived regime of | Bela Kun, the Jewish revolutionary leader from Moscow, the state lost con- fidence in them. They discovered that certain official posts to which they had access before the Red Terror were for- ever closed to members of the Jewish | ace. Th> government maintains that there is no discrimination =against Jews in Hungary. There is a definite tendency. however, to exclude them from posts of | confidence. | More than 500 Jews were shot during ! the White Terror when Admiral Horthy's army marched into Budapest and cleared the country of Bolshevism. Many sought safety by bscoming Christians, and the Church of Hungary was swamped with | applications for baptism. | Sir Arthur Conan Doyle's retirement , from the active mission on behalf of | spiritualism, on which he has been en- | gaged for the past 12 years, was re- | |c¢ntly’hplredlcled by an English psychic | gazine. C St. Mother is Proud T \' Don't 'st constipation and its| attendant ailments, such as head- | ‘to $400, back to $600 in 1926, turning | tenders, whether transactions are made or not. Memberships Fluctuate. As has been the case with so-called | “seats” on all exchanges, prices on | the local organization have varied, the | range on local memberships being from | $25 to $10,000, the maximum, off again | the $1,550 mark again in 1927 and up | to_$3,250 with the advent of 1928. | Fluctuations followed the trading trend of the market. With the activity in the stock of Washington Railway & Electric Co. and Capital Traction came the advance of last year, aided as it | was by the first issue of the preferred | shares of the Potomac Electric Co. and | the spurts of activity in dairy, drug and grocery stocks. Old-Time Favorites. In the years that have gone Capital Traction and Washington Gas were the | favorite trading securities, with Trac- | tion many points above the price of the | present time and considered as a most conservative, high-grade investment— | | election of Albion K. Parris and F. E. Middleton, so that there was only a short period between the first meeting and the organization. George H. B. White, cachier of the National Metro- politan Bank at that time, and father of the present presidént of that insti- tution, was chosen first president. ‘There has always been difficulty in starting & commercial or security ex- change. The new venture has to te nursed and coddled through mflncy‘ that it may come into a stronger, more independent, entity. Beer and Sandwiches. Out in Chicago the Board of Trade, one of the most important and lll’gest of commercial bodies, had the greatest rouble getting a start. It is recalled that one bait held out to draw attend nce was a keg of beer, real, and a cou- ple of hams furnished every day &t | noon time, with sufficient rye bread ‘o make sandwiches all around. An insurance feature was adopted soon after the inception of the cxchange and has been effective ever since. As time wore on added years brought around death assessments more fre 1 quently and the present-day member- | ship found it necessary to consider the | matter of insurance when considering | | the application of would-be members. | | so that a_scale of assessments has been | | made effective in admitting applicants, | based on age and physical condition. a | basic principal of assessment insurance. Perhaps the insurance feature has held |of intense dullness, but the daily call has been held right along although at times the governors were more willing | to adjourn a day or so if the oppor- | tunity offered, following the lead of the New York Stock Exchange. | Social Funetlons. | Some years. ago memberships were | déemed more valuable because the ex- change was in the habit of giving big | annual dinners, at which the best pos- Isible entertainment was offered, din- ners attended usually by the President. | members of his cabinet. Supreme Court | | justices and men prominent in all walks lof life. Invitations to these dinners were highly prized and eagerly sought for. Many considered it a fine organi- | | no trading and rarely attended a ses- | sion of the Exchange. Bankers and Stock Exchange mem- bers always exchange quips at each other's expense at the annual dinner |and in addresses stressed for the bene- | it of the lawmakers present on the benefits of any measures they might be advocating before Congress. | At the last one of these big annual | affairs it is recalled that the Stock Ex- change leaders took a slight rap at the bankers for accenting low rates for call | money from Wall Street and rot from | the stock brokers at home. Margin Trading. Mr. Parris recalls that there was con- siderable speculation on the local bourse ‘dllrlnk the years 1908-12, when margin transactions were permitted. Much money was lost during this speculative era when memberships were selling at the highest prices, and since 1914 the | business of the Exchange has been on a strictly cash basis, each transaction |paid for and delivery made the day | after it is made. | Mr. Parris remembers a few failures |on the Exchange, due perhaps more to | speculative operations in other marts. | but there has been more in recent years. | Of late more banks have purchased | memberships and have representatives on the Exchange at the daily sessions where they execute orders for the banks’ customers. Price Fluctuations. Price fluctuations really tell the story of the ups and downs on the exchange in’ all the years of its existence equally as well as description could. Mr. Par- ris cits the fact that this is the first year that no memberships are owned by estates, but all of the 40 seats are held by men more or less intimately connected with the investment business. | "'Mr. Parris himself retains a desk with his old firm. Crane, Parris & Co, is a frequent visitor abroad and feels at home almost anywhere in the United States, visils the exchange occasionally, probably has & bunch of local securities in his strong box and will retain his | Ghe PALAIS ROYAL G STREET AT ELEVENTH A Fortunate Purchase Enables Us to Sale of Men'’s Regular $§2.50 Grades—Special at Complete line of plain white, plain colored and fancy broadcloths, woven stripe madr: Cut full and well made. All fast colors. Neckband, collar-attached or collar to match. Sizes Beverly 13Y% to 18 Men's Shop—Main Floor Clothes For Men and Young Men—Sold exclusively . at the Palais Royal in Washington Men’s All-Wool TELEPHONE MAIN 8780 Offer This Shirts s and fancy percales. | seats on tne Washington Stock Ex- some membership loyally during periods | I zation to belong to, although they did | las raembership on the Washington Stock Exchange £o long as he lives. Prices of Seats on the Exchange. Th» price record year by year | NOTED INN BURNED. “Henry's Where Dickens Dined. Low. _ LONDON (#.—Another link with 323 | Charles Dickens has disappeared in the 100 | burning of an old coffee shanty at p Greenhithe on the banks of the | Thames, known as “Henry’s Hut.” Fire Hut,” actroys o Destroy: change were: 100 1090 | has provided light refreshments for sea- 33 | faring men, and it is recorded that | Charles Dickens sheliered tnere from 0|a blizzard. He commended the pro- prietor on the exccllence of the coffee = s sssmmasSoeinn 5858535: 752832835532382 10. Sales. Sales, 33 Years Sales| Sales| Sales| g3 Far or Near e Complete With SCIENTIST, IN PERIL, IS SOUGHT BY FRIENDS | Russian Academy Organizes Expe- | dition to Launch Search in | Siberian Province. MOSCOW (#).—The single minded- | ness of a sclentist is causing the Rus- sian Academy of Science o organize | a hurried expedition for the man who discovered the site of the world's | largest meteor. | The scientist who is drawing a rescus | expedition upon his head is L. Kulik, leader of the Russian party which lo- cated the meteor last Summer in the | tundras of Yenissey province, Siberia. | Kryptok Bifocal lenses mad For more than 70 years the hut Genuine Toric Glasses Shell or Metal Frame pair to see near and far.) Sold regularly $15. e STILL BIND GIRLS’ FEET. Custom Pers in Peking With 7,294 Cases Found. PEKING (#).—Baby girls are still having their feet bound in certain dis- | tricts of Peking and various other cities of China, despite strenuous efforts of | the authorities to discourage the ancient custom. A census has shown that. there are | 7.294 women, girls and babies who have | bound feet in the Peking municipal district, the figures having been assem- bled by the public safety bureau. Specials Monday and Tuesday $3.50 Complete Outfit, With Case and Cleaner Included " Genuine Toric KRYPTOK Invisible Bifocal Lenses First and best quality. Lenses— (one Torie Best All the members of his party were taken ‘ il with scurvy. Kulik sent them all | home in August, but himself remained | at the scene of the meteor’s destruc- | tion to continue observations. He has | not_vet returned. | ‘The meteor fell in 1908. Russian ex- peditions before the revolution failed | to locate its site. In 1927 Kulik led | the first post-revolution search. which | succeeded only partially. Last Summer | his hopes were consummated. | $ 7 50 Special price Monday & Tuesday KAHN OPTICAL CO. 617 Seventh St. N.W. (BETWEEN F AND G STREETS) e PALAIS ROYAL G STREET AT ELEVENTH TELEPHONE MAIN 8780 COMMUNITY PLATE 50 Year - Guarantee PATRICIAN MODERNE Home and Hostess Set with Tray complete { Including DeLuxe Stainless Knives— Bright as silver!) CLUB For This Week Only Buy on Our Convenient Paying Budget Plan $3100 PLAN SALE Trere is no more finely made silverware than Communiry Prare. It is guaranteed your choice. Only in *‘Community”* can you get the marvelous DeLuxe Stainless Knife to give at least fifty years of superb service. In the beauty of its designs it is unequaled. Five charming patterns are offered for with a steel blade sharp as a carver, im- pervious to stain or tarnish and at the same time bright as silver. aches, biliousness, feverishness. | Market Recedes 2 Cents a Bushel| fretfulness, sallow, “bl;:)lll(denaout“‘v skin, etc., pull your ¢! own | and Closes Heavy. |and ‘'make her puny, listless and | CHICAGO, November 3 (#).—Wheet | underweight. At the first sizn of | yalues suffered a sharp setback today, | pad breath, coated tongue or| the markat showing a maximum tumble | o 2 A of ‘about 2c A bushel. Standing orders | [eVCrishness. give her a littl QOvercoats all the beautiful CommunitTy Prats to let go of holdings at various fixed | limits and thus put a stop to losses were California Fig Syrup. | Children love the rich, fruity In the correct styles now being You SELECT you desie - Here 15 forced into execution toward the last.|flavor of California Fig Syrup.| Export demand today for wheat from|and it never fails to start lazy North America amounted to but Jittle. | bowels quick, cleanses them and the trade looked for another liberal | thoroughly and give tone and :',‘f;’;f,:“;m;'éh,"l‘,';myz“"';\’(nf";"‘f‘ wheat| strength to them and to the| Wheat closed heavy. 11 to 2 net|Stomach so these organs continue lower: con, % to 7 off: oats showing | 1O act normally, of their own ac- Iy to 1ia% decline and provisions vary- | cord. It stimulates the apetite, ing from 2 setback to a rise of 15 thelps digestion, makes rosy WHFAT. Law lose. | cheeks, bright eyes. helps build up Hai? and strengthen children. 122 | A well - known _Washington | mother, Mrs. G. M. Pigott, 516 C | St. N.E., says: “My little daughter, Helen, suffered from constipation until I thought it was going to keep her delicate always. She| was losing weight fast when I started her on California Fig Syrup. In a few davs it made a world of difference in her looks and actions. Now I'm proud as I can be of her; she’s so ruddy, strong and plump.” Over four million bottles used |a year shows the popularity of the eenuine. "Look for the name | “California” on the carton, so you won't get a substitut i worn by the well dressed man $35 $45 $50 The new broad rope shoulder ef- fects in double breasted, box and collegiate models. Well tailored of Melton, Bouchle, Cheviots and Metcalfs, in the wanted blues and Oxford grays. You Pay 2 little s 200 now, according 1o the amoune of your purchase, and then & small sum weekly . « You Kutive & mmionsiudn Knickers : Sy e 1 Chaose from this Shopping List $175 De Luxe Stainless Dinnet Knives, 730 Hollow Handle 750 Delixe Stawless Dinner Kni Fullv lined knickers of hard, finished materials and tweeds that will give sturdy wear. Light, % 7.50 Modeled Handle . , . 000 v le [ Each 330 Oyer Forks . e e medium and dark patterns. Also some corduroy knickers included. . Esch 125 Pickle Fork Each 130 Pierced Round Server Sizes 7 to 18 Setsin Trays and Cabinets-20 pieces up to 243 pieces-$39 25 to $11 Comparc these new low prices on Tea Scts, Plattcrs, Bread Trays, ctc. Men’s Horsehide and Suede 014 Prizes Windbreakers Grosvenor 3 Piece Tea Set . Reversible mod- 12 Paul Revere 3 Piece Tea Set »1s in black, erey Main Floor Teaspoons Table Spoor Dinnec Forks Salad Forks Berry Spoon .« 4 4 Sugar Spoon . Butter Spreaders Six $1400 B 100t 103 New Prices - $50.00 00 40.00 Tobacco Products Meeting. NEW YORK, November 3 (#).—Di- rectors of the Tobacco Products Cor- poration of New York at their mesting next week. 1t is understood in Wall Street, will take no action on the plans for capital readjustment as prel- ude to intended liquidation of company announced earlier this year. Only declaration of the regular quarterly dividend of $2 on the common i5 ex- pected. A special meeting of directors may be called at the end of the month for action of a proposed 5-for-1 division +ef common stock. Oval Waiter 18" . . . , Double Vegetable Dis . Gravy Boatand Tray . . Beead o Roll Tray ., . | Sandwich ar Cake Baskee Olive Salted Nut Tray Meat Platter Plain. 15 . . Meat Platter Well and Tres, i5* 000 17.50 1500 750 150 Burd of Paradise 3 Piece Tea Set Water Pucher and tan. Sizes (PIECES LISTED BPLOW ARE THE SAME PRICE N ALL PATTERNS) 36 to 44, Size range complete. Palais Roval—Silverware—Main Floor Men's Shop—Ma‘n Floor LAXATIVE-TONIC CHILDREN