Evening Star Newspaper, November 9, 1928, Page 15

FINANCIAL. : ‘mfl‘mxrn':*::- THE EVENING S’[;'AR', WASHINGTON, D. C, FRIDAY, NOVEMBER 9, 1928 SPECLATIE BOND MARKET I STRONG Optimistic Sentiment Toward Investment Securities Is Continued. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, November 9.—Mixed in with the strength in speculative indus- trial bonds today were a number of is- sues that showed the effect of steady liquidation due to unfavorable condi- tions in specific industries. The ad- vance in the call money renewal rate to 6!, per cent, after several days at 6 per cent, was not sufficient change to disturb the growing optimistic senti- ment toward investment securities. An evidence of this was the proposal of the City of New York to issue, on November 20, $107.000,000 of long-term bonds. This program of financing the requirements of the city is timed with & period of easier money and encourag- ing signs in the way of public demand for high-grade issues also that New York is borrowing on Jong maturities instead of temporizing with the situations as other municipal- ities have felt it necessary to do in the past 90 days. In point of size the issue will be the largest of the year and in excess of any other that New | York has brought out in the past. The outstanding 4 and 4% per cent New York City issues were more active than recently. Other important municipal loans are in the making. Those that have al- ready been offered have met with suc- cess. Some of them are already selling at_premiums. ‘The copper convertibles held up well today in spite of the gains they have been making this week. Andes 7s rose over 2 points and Anaconda 7s about the same. Barnsdall 6s started off 11, points lower, but eventually went above vesterday's closing. White Eagle Oil 51,5 were also Strong. Liquid Car- bonic 6s jumped up 10 points on mod- erate transactions.. In contrast to these movements were the declines to new low levels in the Lorillard 5!5s, Cer- tainteed Products 5'5s and Interna- tional Paper 5 and 6 per cent issues. The effect of severe competition shows itself quite visibly in the action of the tobacco and paper obligations. Among the rails there was a slightly lower tendency in the first mortages, but improvement in thése of the sec- ondary grades, such as Union Pacific new 4s, Kansas City Southern 5s, St. Paul gold 5s, Erie refunding 5s, San Antonio & Arkansas Pass 4s. The new Atchison convertibles were quoted around 122. The Seaboard Air Line issues were heavy and also Florida East Coast 5s. Italian descriptions were all reac- tionary. - Belgian and French were slightly higher with a possibility of new cabinet in France. A Greek loan is an early progpect. This week’s new offerings of bonds amounted to $75,000,000. of which $50,- 000,000 were represented in the Pennsyl- vania loan. This compared with about $100,000,000 the week previous. POTATO MARKET FIRM. CHICAGO, November 9 (#) (United States Department of Agriculture).— Potatoes—Receipts. 115 cars; on track, 453 cars; total United States ship- ments, 718 cars; trading slow, market | Rome 6%s..... firm on Ohios, steady on other stock; | Sao Paulo 8s 1936 Wisconsin. sacked round whites, 75a90. | Sao Paulo 1950 Minnesota and [Saxon (PW) 7s. North Dakota, sacked round whites, 75a | Seine 7s 42. 85, few 90; sacked Red River Ohios, gerb!CmtSo 8., Soissons 6s. fancy shade higher; mostly 95 South Dakota, sacked early Ohios, 80a90; Idaho, sacked Russets, 1.55a1 %] First and Second Trust Money - Available On Homes, Apartments and Business Properties Prevailing Interest Rates Moderate Charges No Appraisal Fees District National Securities Corporation Main 2994. 1406 G St. N.W. Mortgages JAMES Y. PENNEBAKER Main 5328 1520 K St. N.W. Second Trust Notes We will buy your Second Trust Note if desirably secured on im- proved property in the District of Columbia. Prompt Attention to Applications National Mortgage & Investment Corporation 1004 Vermont Ave. N.W. Main 5833 REAL ESTATE LOANS 51,9 Homes, Apartments and Business Properties In District of Columbia and Nearby Maryland-Virginia 3-5-10-Year Terms Prompt Replies Randall H. Hagner & Co. (Incorporated) Decatur 3600 1321 Connecticut Avenue Mortgage Loan Correspondent New York Life Insurance Co. It is significant | annn FE Yokohama 6s wi... 12 UNITED STATES. (Sales a Sales. High. Lib 3%s.... 159 9914 Lib1st4%s Lib 4th 448 US4s 1914, 996 68 1013 1011 FOREIGN. Saies High. Low. Argentine5s...... 2 90% 90% Argentine 6s Ju 59. 6 100 99% Argentine 6s Oct 59 13 100% Argentine 6s A. 17 100% 100 Argentine 6s B 3 100% 100 Australia 58 19 Australia 68 1957, Austria 7 Bank of Chile Belgium 6: Belgium 6%s Belgium 7s 1 Belgium 7s 1956. Belgium 7148, Belgium 8s Bolivia 8s. Bordeaux 6s. Brazil 61551926, Brazil § Brazil 7 29 96 13 96% 10 103v 6 97Tn 9Th 11 101 100% 1 106'% 106 33 108% 107 13 106 105% 955 958 103 . 19 105% 108% 96 9615 961 9 1004 100 . 21 108% 108% 5 1021 102 15 1055 105 12 1004 100% 93 17 96% 2 Canada 514 Chile s '60 Chile 63 '61 Chile 73 1 Chinese Gov Ry Christiania 6s. ... Colombia 6= Jan'61. Con Pow Japan 7s. . Copenhagen 4%s 53 Copenhagen 5s ct... Czecho 85 1 Czecho 8s 195 Danish Munic 8s A. Danish Munic 8s B. Denmark 6s. DEI DEI Dutch Dutch 1 109% 110 1 110% 110% 8 110% 110% 2 104% 104% 1.102% 102% . 50 1034 103% 2 104% 104% 9 103% 103% 1110 110 191. 91 6100 100 105% 1 13 107% 107% 5114 114 35 106% 106% 2 99 99 1 102% 102% 5 98% 98% . 10 102t% 102 State 5s. 8 96% 96Y% . 45 97 96% - 29 96% 96% 12 92% 92% 42 102% 101% 3 200% 100 16 91% 914 1 101% 101% 5 100% 100% 6 941 94 9 94% 94 « 5 102% 1021 .21 9% 97 19 101% 100% 5 102% 1024 3 1027 102% 6 98% 98% 8 991 99y 3 104% 104% 22 91y 91 5.102 102 17107% 107% < 1 84% 84% . 15 8T% 8T% 1 99% 99% 1105 105 1 110% 110% 2 104% 104% 8 91% 91 hineWst EP 13 94% 94 RhineWst EP 78'50 2 102 Rio de Janeiro 6%s. 11 96 Rio de Jan 85 1946.. 4 106 Rio Gr Do Sul8s... 1107 .15 925 3 I3 Finland Finland 7 Frame Frenc French 7158, German 7s. Ger Am Bank 7 Ger Gen Elec 1 7 Irish Free Italy Italian Pub 8 7s. Japanese 4s Japanese 614s... Lyon 6s. Milan 61¢s. Montevideo Netherlands 6s 54.. New So Wales 5 New So Wales Nord 612s. ... Norway 55 1963 Norway 51gs. Norway 6s 1943 Norway 638 1952.. Orient Dev deb 6s. . Paris-Ly-Med 6s. Paris-Ly-Med 7 Peru 6s 67 wi... Peru Ts. Peru7iss Poland 6s 10. Poland 7s (rets). Poland 8s.... Queensland 6s. Queensland Ts. Rhinelbe Un RhineWst E! 9513 106 107 92% 99% 991, 0o wana~a~aSS. 98% 98 98% 98y weden 5158 weden 6s wiss 5158 1946 wiss Confed ‘oho El Pow Ts okio 5. okio 5% 5 1961 td Kingm 5348 td SteamCopen 104% 104 99% 987 9 8% 90% 90% 9% 9% 95% 95% MISCELLANEOUS. AmAgriChem 71%s. 2 105 Am Cotton Oil 5s... 1 98% 98% AhSmit & R 1st 6s. 31 101 100% AmT & Tcltrds.. 32 99% 99% AmT&Tcltrbs AmT&Ts!5s Am Tel & Tel 5%s. Am Writ Paper 6; Anaconda 1st 6s Anaconda cv db 7s. 114 156% 154% Andes Copper 7s...533 170% 169 Armour&Co4%s39. 21 93 92% Armour Del 53s.,. 15 921 91% Assoclated Oil 6s. 2 102% 102% Atlantic Refin 55 1 101% 101% Barnsdall 65 1940.., 226 153 145 Bell Tel Pa 58 B. 3 106% 106% Bell Tel Pa 68 C.... 10 109% 109% Bethlehm St pm bs. 2 101 101 Beth Steel rf 5s. 1 101% 101% Beth Steel 55 53.. 41 103% 102% Bethlehem Steel 6s. 24 105 104% Bklyn Edison 58.... 5 104% 104% Bkiyn Union 5%s... 5312 312 Certain-Td5%srcts 33 89% 89 Chile Copper 5s.... 47 97 96% + 31106 105% 33 101% 100% Con Coal Md 1st5s. 12 7815 78‘2 Con Gas N Y 51s.. 12 106% 106 Consumers Pow 5s. 12 1044 104% Cuba Cane 8s 19 74% 74% Dery (DG) T5..... 4 T4% 74% Detroit Edison 6s.. 3 108 108 Dodge 6s..... 37 103% 103% Gen Asphalt6s36.. 1109 109 Gen Mot Ac Cor 65, 24 102% 10214 Goodrich 6%s. 2 107% 107% Goodyear s ret 17 93% 931 Hoe & Co 6% 3 93 93 Humble Oil 55 8 100% 100% Humble O & R5%s. 1 1017 101% Illinois Bell 1st 55.. 10 105 1047 Iilinois Steel 435, 3 9815 gguy Indiana Steel 11 104% 104% Intl Cement Intl Match 5s 4 Int Mer Marine 6s Int Paper 5s 4 Inter Paper 6s. .. int Tel&Teleg 413 Kayser J & Co 3s. Kan City P & 1 Kan G & 2 65 5 Kelly-Spring 8s Lackawanna Stl 58 Laclede G 5%s 52 Lorillar Louisv « 66 106% 21 101 107% 2 87 87 51 105% 105% 106 68 9915 13 103 20 96 19 98y, 97 26 97y 97 7 116% 116 1 104% 1045 6 105 1041 4 110 102y 1043, 99% 9515 16 100'; 100 BTN 8TY 1 105% 105% North Am Edi Nor States Pow Nor 8 Pacific Gas & PacT & T 05 Pan-Amer Pete 6s.. 10 10 Paramount 6s 1947, Pathe Exchang Phila Co 55 67 w i Phila&R Philips I 4 101 2 101 11 51 11 13 100% 100 . 12 80 30 997% - 59 15; « 151 2 96% 9650 % 9915 993 93Y% 9 99% 7 101% 1011 21 103'3 103 L1191 97N 3 95% <11 95% 1104 RemingtonAr 6s 3 Rem Rnd 5% war., Sinclair Oil 6s Sinclair Oil 614 Sinclair 0117 9 95 104 s . 14 103 SugarEstOriente 2 98 TennElecPow 65 47. 17 United Drug 55 53., 18 “g 98 99 14 4 100 31 10031 100 31 1011 70 10724 10722 10722 Close. 90% 100 99% 10014 100% f 100% Australia 4% 8 56.., 33 88l 88% 22:&: 961 103 97% 101 106% 1077 106 . 11 115% 115% 115% 1 110% 110% 110% 105% + 10 100% 100% 100 96% 9614 100% 108y 102% 105 1001 110 110 110% 1104 104% | ¢ 102% 103 104Y 103% 110 91 100 5 1051% 10714 114 106% 99 102% 981 102% 9614 97 961 9214 101% 100 91% 101% 100% 94y 9% 102% 974 101% 10214 102% 98U 99% 104% 9% 102 10714 8414 87% 9915 105 110% 104 91% 94 101% 101% 95% 106 107 925 106% 106% 1064 107% 107% 107% 9914 104% 104% 104% 98 98% 103% 103% 108% 102% 102% 102'% 104 110% 110% 110% 99y, 8% 0% 104% 104% 104% 9% 95BN 104% 104 984 101 99% 9 104% 104% 104% 106% 107% 87 105% 155% 169% 93 92 102% 101% 153 106% 109% 101 101% 103% 105 104% 312 89% 96% 106 101% 78Y% 106 104% T4% T4% 108 103% 109 102% 107% 93% 93 100% 101% 105 981 104% 116% 104y 104 110 102% 104% 8 96 100 BT% 105 1 1 Kan City Term 4s. Lake Shore 4s 31 Lehigh Val cn 4s. Long Isrf 4s 49. Long Is deb 55 3%, . Louis&Nash uni Louis & Nash 538 Louis & Nash 7 Man Ry 1st 4590, | ON NEW YORK BONDS STOCK EXCHANGE|: Received by Private Wire Direct to The Star Office ales. High. Low. Close. ..k 11 89% 89 89 101 100% 100% 108% 108 108 1014 100% 100% 9T 9T DTV 91 91 91 104 103% 104 104% 10415 104% 9 111 110% 110% 104% 104% 104% 103 102% 102% 101% 101% 101% U S Rub 1st rf § US Rub 71s. US Steel s f 5s... Utah Pow & Lt 5s Vertientes Sug 7s.. Warner Sug 7s 39 West Elec 5s. Westn Union s Westn Unfon 614s. . Westinghouse 5s. .. Willys-Ov 6145 33. . ‘Wilson & Co Tst 6s. WinRepeatAr 7ts, 107% 1074 107% Yngstn S&T 5s wi. 101% 101 101 RAILROAD. Atchison adj 4s.... 5 90% Atchison gen 4s.... 19 Atl & Dan 1st 45 43, 3 Atl& Dan 2d 4s 48. . 14 Atlantic C L 41,5 64 B&O Gold 4s B&Ocvdls & O ret & O 58 2001 &0 1st5scr. B&Ort imp 6s. B& O PLEWY Bang & Aroos Brooklyn Elec 6%s. Brooklyn Elev 6135, 16 Bklyn Manhat s... 34 Buft R& Pitt 4%s.. 10 .8 1935.. 3 Can Pac 4155 46 Central of Ga 51gs. 13 1037 103% 1037 Central of Ga 6s...." 3 100% 100 100 Central Pacific 4s,. 2 92% 91% 92% Cent Pac 1st 5590, 5 104% 104 104% Chesa Corp5s wi.. 13 99% 9915 9915 Ches&Ocvidlis.., 42 99% 991 99% Ches & O gn 4 26 100 66 9415 10 891y 941y 77 70 5 1034 1024 1031 9 104% 104% 104% 6110 110 110 9415 94% 851 86 91 95 943 9815 95 B B B 943 98 s 964 6% 5 80 27 100 99% 2 102% 102% 102% 3 90% 90% 90 30 95% 9 g 14 95% 95% 95 .0 45 101 100% 100% s. 1117 11 17 3 88% 8% R 8 106% 105% 105% 2 109% 109% 109% 1 99 99 9 15 104% 104 104% 3 100% 100% 100% 2 107% 107 107 8 94% 94% 94% 3 94 2 Chi & NW 7s. Chi RI&P gn s Chi R1&Prf 4s. CRIPac4lswi Chi Un Sta 4128 Chi Union St Chi & W Ind cn s Clev Term 5: Clev Term 515 COC&StL deb 4148, CCC&StLGsD... CCC&StLrfsA. Cuba R R 71ps. Cuba Nor 5% s cts Del & Hud 1st rf 4s. Del & Hud 75 30. ... Den & RioGends.. 1 D & Rio G imp 5s... 20 9414 DRG & Wst 55’78 36 94% Det United 4 Erie 1st cons 4s Erie conv 4s B 92 944 94 94% 3 97% 9T 9T% 20 (% B86'% 869 7 86 86 86 .79 9% 97w 9TH 1 102% 102% 102% 2 111% 111% 111% 2 100% 100% 100% T 83 83% 83N 1 106% 1065% 1065% 6 1121 1124 112'% 12 99'5 99% 99% .. 5 99% 99% 99% Great North 5%s... 1 110% 110% 110% Great Nor gen 7s... 15 113 112% 113 Green B& WdebB. 12 29 28% 29 Hud & Man aj 5s... 14 89 881 B8% Hud & Man ref 5s..111 99 98's 984 111 Cent 45 53, 2 9% 91% 91% 111 Cent ref 4s 11 94 94 . & 111 Cent 4% s 66. 24 101% 101 101% Int Rapid Tran5s.. 5 7% 774 77% Int Rap Tr 5sstpd.. 19 7% T1% 7% Int Rapid Tran 6s.. 3 77% 77% 7% IntRys CA bs T 1 83% 83% 83% IntRyCAm6sdl.. 2 95 95 95 Int Rap Trans 7s 19 99 98% 99 nt&GtNoradj 6552 5 89% 894 891 ntRy CA6lzsret. 3 97% 97 97 93y 93 93 8 T5% TBY% 75l 11 101% 100% 100% 12 91% 91 My 6 984 98% 98 6 89% 8O 94 Egie Genessee R 6. Erie (Pa) cit tr 4s.. Fla East C5s T4.... Gr Trunk stdb 6s... Grand Trunk 7s 2 106% 106% 106% 1103 103 103 2 68% 68% 68% 1108 103 103 5 95% 95% 95% 1,793 91 Vigy 118140 27 gy - 38 105% 104% 105% 7 101% 101 101% .21 9% T8% TO% Mo Pac 53 A 65. 5 101% 101% 101% Mo Pac 5s F 77. . 40 100 99% 100 Mob&Ohlo gn 45 38. 1 92% 927 92% NOTex&M58A.. 10 97% 97T% 97% NY Cen gen 335 7 82% 82y 82 Y Cent 48 42, 10 96% 96 964 Mil El Ry & L 5 51. M StP&SSM cn 5s, . M StP &SSM 5148, M K& T adj 5s... MK &T prinbs A, Mo Pacific gen 4s. 51 1021 101% 102% | 5 101'% 101% 101% 1 107% 107% 107% 1 115% 115t 115% 2 107 107% 107% 6 101% 101% 101% 12 106% 106% 106% 4 1101 110% 110% 100% 100% 4 101% 101% 4« 105% 105% 03% 103% 103% 105% 105% 107% 107% 100% 101 103 973, 951 104 98 2 1041 10415 10415 YCrfim4t%s... 13 100% 100% 100% NYCentrf5s..... 2108% 108 108 C&StLdeb4s.. 8 98 97% 98 YChi&StL 515sA. 20 107% 1067% 106% NYChI&StL 5% B. 12 106% 106% 106% NYC&StL6sA.. 3107 107 107 New Haven 315s 56, 6% T6% New Haven 48 55. , . 85% 87 NH&H db4s57. 6 5% 5% 751 NYNH&Hd4%s., 96 92% 92 9215 NY NH&H cit 6s. 3104 104 104 NY NH&H cv db 116% 116'% 116% N Y State Ry 43;s. . % 44 443 NYStateRy 6%s 62. 55 NYW&Bi%s.... 6 874 8T Norfolk & Wends.. 13 94% 94 94% Nor Pac 38 2047..., 2 67 66 67% Nor Pac 4158 2047.. 1 101% 101% 101% Northern Pac 5s D.. 10 106% 106% 106% Northern Pacr § 6s. 16 113% 113% 1131 Ore Short Lrfs 4s.. 26 99% 98% 99% Ore Wash 1st 4s.... 11 91% 90% 91% Pennsyl con 4%s.,, 23 103 102% 103 Pennsyl gen 4%s... 25 102 101% 101% Pennsyl gen bs. « 1.109% 109% 109Y% Pennsyl 5s 64 . 17 104 103% 103% Pennsyl 614s. 5 110% 110% 110% Pennsyl gold 7s.... 16 103 102% 102% Pere Marq 1st 5: PCC&SIL 58 B 75 8 109% 109% 109% Portland EI P L 6s. 11 101% 100% 100% Port RL&P 7% 46. 2 107% 107 107 Reading gen 4% 8 A 14 100% 100 100% Reading J C4s51.. 4 93% 92% 031 Rio G W 1st 4s. . 1 91% 91% 91% StLIM&S 4529.... 4 99% 99% 99y St IM&S gn 5831, 20 100% 100 100% St L IM&S R&G 48, 56 95 94% 95 StL&SFpldsA.. 61 90% [90% 90% StL&SFr41%s78.300 91% 91% 917 StL&SFH%sD.. 4 102% 102% 1025 StLS W 1st 45 6 91 87T 871 StLS W conds 3 9% 943, St P Un Dep bs 0614 10614 106 San A & Arn P 4s 92 92 Seaboard AL 4s sta. 7% 76 Seab A Liref 4s.... 62% 6215 SeabAL adj 58 1949, 41 A1y Seab A L con 65.... % 8% SBAIFIa6s35 A. I T2% Sou Pac 4 99% 993 Sou Pacifie r 9% 9314 Sou 4% 8% 98, Sou Ry gen 4s 89% 897, Sou Ry Con §, 12 13 123 123 4 93% 92% 92v 5 103% 103% 103% 6 102% 102% 102% 5 66% 6614 66% 1 62% 62% 62% 6100 100 100 20 95% 954 95% 25 90 89% 90 1 92% 921, 92 33 99% 98% 98% 9 106 1057 1057 19 100% 100% 1007 37 9814 93 93 3105 104% 104% 7 83 B2 83 Third Ave re Third Ave Tol Tr L&’ Union Pac 1st 4s. Unfon Pacific 4 Union Pac 1st rf 4s. Union Pac 4325 67 Virginia Ry 1st 58 Va Ry & P Whash 4158 78 rets. Wabash b ‘e West Maryland 4s Western Md 5 13 100% 4 100% Western Pacific 5. 8 100 A 99T West Shore 45 2361, 12 90% 901 Wheel & L Ecnds.. 1 88% 88% 901 8834 $9,000,000 MERGER. MILWAUKEE, Wis, November 9 (#).—Announcement of a merger of the National Equipment Co., of which the Koenring Co., Milwaukee, is the parent company; the Parsons Co. of Newton, apolis, producers of construction hoist- 102% 102% | ing machinery, into a $9,000,000 cor- poration was made today by Phil A, xu 106% 106% Koenring, president and treasurer of % 97% 98% the central corporation. {was up 2 points. 1 104% 104% 104 | D: CURB ISSUES SHOW ADVANGE N PRICES Market Wavers Occasionally, But Main Body of Shares Is Strong. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, November 9.—Waver- ing at intervals during today's session, the main body of stocks, nevertheless, displayed strength on the Curb EX- change, Practically every group Was represented among the issues that went into new high ground. Safeway Stores new featured the chain store issues, making a new high, up more than 5 points. Directors announced declaration of a quarterly 75 cent dividend, thereby placing the new stock on a $3 annual basis, which was equivalent to $15 on the common prior to the 5-for-1 split-up and com- pared with $12 previously paid. In the motor group, Stutz was the favor- ite at a new top for the year, although there was nothing in the news to ac- count for the persistent demand. Standard of Kentucky led the Stan- dard Oils, crossing 161 to its best, al- though the gain was comparatively small. Humble Oil felt the effect of profit-taking and the same was true of International Petroleum. ©Ohio Oil continued in demand and at one time Illinois Pipe Line selling ex-dividend 10 per cent changed hands at 241, as against yesterday's final of 255. American Maracaibo at- tracted considerable attention when a block of 16,000 shares opened at a new high of 77, up 1% points. Barnsdall warrants moved forward to a fresh top In sympathy with the common stock on the big board. All of the ofls were influenced more or less by the advance of 15 cents a barrel in Penn- sylvania crude. The utilities" were featured by a rise of some 8 points in Electric Bond & Share securities. The upturn was based on the price appreciation of securities of companies controlled. Northeastern Power continued in demand at a new peak. Syracuse Washing Machine was a noteworthy specialty favorite, making a fresh top at a gain of more than 3 points. Others that reached their best included Gobel, Apponaug, Hercules Powder, St. Regls Paper. TRAFFIC INCREASE NOTED, BALTIMORE, November 9 (Spe- cial).—Heavier movement of traffic other than coal is beginning to be re- flected in the earnings of the Western Maryland Railway. Estimated earnings for October show lflguln of $128,924, or 16 per cent, in traffic other than coal, but this was offset by a loss of $140,000, or 16 per cent, in coel receipts. The drop in revenue from coal ton- nage was smaller than for months. Earnings for the month were $1,792,690, & decrease of $10,322, or 1 per cent. With the economical operation in- augurated at the beginning of the year maintained in October, it is probable that a substantial increase will be shown in net. For the year to the end of October estimated earnings were $15.491,279, a comparative decrease of $3,017,960, or 16 per cent. CAN COMPANY EXPANDS. - BALTIMORE, November 9 (Spe- cial) —The Continental Can Co. has acquired the can manufacturing busi- ness of the R, Hardesty Manufacturing Co. of Denver, it was announced to- day. Products of the latter company are broadly distributed throughout the West and the Southwest. The Conti- nental Can Co. has three plants in ‘B'fi;umore. all of which are operating in Washington Stock Exchange SALES. Riggs National Bank warrants—150-265 at 315, 154-265 at 315, 15-265 at 315, Mex;c;ngéns' Transfer & Storage pfd.—5 a . Mergenthaler Linotype—5 at 100%, 10 at 10014, 15 at 1005, 20 at 100%, 100 at 100%, 5 at 1001, 25 at 100 . National Mtge. & Inv. pfd.—40 at 5%, 100 at 55, AFTER CALL. Capital Traction Co.—10 at 106. Bnntlt‘na' Grocery Co. pfd.—1 at 152, 10 a 3 Potomac Electric 5!2 % pfd.—10 at 109, Capital Traction 55—$1,000 at 1023%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid, Asked. Amei. Tel. & Telga. 4% 087 : Amer; Tel. & Telga. 4as. Am. Tel. & "Tel. ctl. tr. 5 Anacostia & Pot. R, R. Ana. & PoL. guar. by G & P. Teiephone b’ P. 87% | Gity ‘& s 1st Potomac Electric 1st_s.. Potomac Elec. cons. 5 Wash., Alex. & Mt. Vei Wash.. Balto, & Anna Washington Gas_8s. Wash. Ga MISCELLANEOUS, Barber & Ross. Inc., 61as... .. Cnamoeriain-vanderbilt - §7as. Chestnut_rarms Dairy 6gs. Gheyy Chase Clu STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga. . Caplial ‘iraction Co. pid Potomac Elec, 5'47 pfd. Wasn. Rwy. & Elec. com. Wash. Rwy. & Elec. pfd......... NATIONAL BANK. National Capita Solumbia Commercial District Federsl-American Liberty Warfants. . Naticnal Baik 'of Washingto TRUST COMPANY ican Sec & Trust Co nentul Trust. Merchants’ Bank... National Savings & Tr Union Trusk.............. Washington Loan & Tiist BAVINGS BANK. Bank of Bethesda..... ommerce & Savings. East Washington. .. Potomac B Security Sav. ‘& Seventh _Street. United States Washington Mechaic: FIRE INSURANCE, American ‘orcoran Firemen’s Natioual Union TITLE INSURANCE. Columbia ‘Title.. . Real Estate. 22y Title & Tnv. &o." of Md Wash. Cons. Title pfd.. » MISCELLANLOUS. Barber *‘Rfl . Inc.. com.. . Chevy Chase Dairy pfd... Ghestnut Farms Dairy com: | Chestnut Parms DMIVJ)M Col. Sand & Gravel pf Commercial Natl. Co. vfd D. C. Paper Mfg. i e Dist. Natl. Securities pfd Federal Storage pfd. .. Federal-American Co. com’ Federal-American pfd.... Lanston Monotype. ... Mereh. Trans. Towa, manufacturers of power trench |Mer excavators, and the Insley Co., Indian- | Nt o7 Ref. & Whs. Corp s Cony. il o1 Wash el {1 cma Woodward & Lc*‘ ofd Following is a list of stocks and bonds traded in on the New York Curb Market today: INDUSTRIAL eh. Lov. Noon bt Sal in hundreds. 15 Amer Sta Sec war 20 Amer Superp A ‘7 Anchor Cap. " 14 Gonsel d nsol Laun Gons Ret Strs 19 Curliss Plying 14 Bavern Tne 3 Davenport Hos 74 De For R G :’3335 e rew . Federal W Fiat deb ris . Filenes Sons 2 Filenes Sons bl Fireman Fund Ing 3 Firestone Tire 11 Follansbee = Bros orhan Co A.. ox Theaters A’ % Frank H H M C 2 French Line 32 Freshman Chas . 32 man Chas ris 73 Galesburg C & D. §Genrs & Forsines B ny obel A n_ .. 4Gold Seal Elec.. . 1 Gramophone Co Tid. 6 Granite City 8tI 4 Grigsby Grunow 1Habir C & W vt 12 in C St A T 3Insur Co N A 11Int] 8; e i xfi'r Shoever B Tntern O 32583822833 S s ieo3nein: SRan53522 Disnaes ria-asmnmmoms SenIR8L: 3332 2033332 . oransS o e 8 Mo avis 1M Bottiing d Johnson Johnson C Hi 2Bt Seaaae Seaw on Mot ie Co ... ater Sup | 4 Nat Trade Journal 4 Nehi' Corp Neve Drug, ew Eng Pow | Niazara Shares Niles Bem Pn Noma R2BRERRBIS.5S 155G oS e menacs. 82! u| e 28 Rainbow Luminous. 21 Radio Ke 2 Tung. A. 5 Uni Flec bond 42Uni G Imp C. 106 Uni Lt 1Uni L & Sales in Rundreds. 1Cent Am Mines & 17 Texon Ol & Lan 2 Venezuelan Pet 5y Ol n.. 613 in _STANDARD. OIL ISSUES A " PORMER ' SUBSIDIARIES STOCKS. 200 Anglo Am Ol 4008 O Ohio. . 3400 Vacuum Oil " . Sales in BONDS. thousands. 4 27 Abr & Straus 5'is wi 1 Abbott Daries 6s..... 21 Abitibl P&P 85 A. 29 Al 5. 110% 18 87% W 414 9704 1034 1 i o . > FINANCIADE™ 5 Cons Pub 1Contl G&l 6%, b »SeooooeIe: RB2808288282838223 33322 uston Gult uston Gulf Pow & 1, 5 25530255, o 2282322 ‘0 Pa 4 P 58 wi.... 1 athan Strauss 6s at D P 6 40 Missour| 12 N: N Sales FOREIGN BONDS. in thousands. Agri Mor 1 Berlin 6s. 8 Buenos Airi 20 Buenos “Aires 7153. .. 102 1Burmeis & Wain 65.. 96: ‘ent Bk Ger St 65 B 86! & Py Bank 5128 & 2 Danish Cons 5'4s... 9% 7 Denmark 5'as K A 977 a8 a 1 Pirst Bohem Wks 75 87 Eree giBius os .o 80 1 i A . i a_Fra 21tal Superpow 6 4 Lombard E! 75 A Serv 8ias. n—New. WW—With” warrants. NEW RATES ON CITRUS SHIPMENTS EFFECTIVE By the Associated Press. TAMPA, Fla, Novmeber 9.—New freight rates on citrus shipments from Florida to all parts of the United States and Canada went into effect today. Although the charges to some parts of the country are higher than previously, according to E. D. Dow, traffic man- ager of the Florida Citrus Exchange, the reductions on shipments to ‘other sections. are :nou[ih to save growers about $825,000 yearly. Rates to Boi’mn, Providence and a few other New England points are higher. The heaviest reduction was to Central and Middle Western territory, including Ohio, Indiana, Michigan, Illinois, Iowa, Minnesota and Wisconsin, ranging from 7 to 20 cents a box on oranges. On grapefruit to the Pacific Northwest the reduction was 25 cents a box or more. The Interstate Commerce Commission in making a decision in the case, known as the line-haul rate adjustment, which had been before it for nearly four years, divided Florida into such a large num- ber of rate-basing territories that charges vary from nearly every shipping point and experts found it difficult to generalize on the effects of the new tariffs. Meanwhile refrigeration costs have been looked into by the commission's examiners and their report will be ex- amined at a conference of shippers representatives in Washington next Tuesday, according to Mr. Dow. Repre- sentatives from five Southeastern States—Georgia, Florida, Virginia and the Carolinas—will be present to deter- mine whether any exceptions will be taken to the report. This case was brought by the railroads seeking a higher rate. On the basis of railroad figures, said by Mr. Dow to show better than a reasonable profit, the shippers asked a reduction on icing charges. CHICAGO LIVE STOCK MARKET CHICAGO, November 9 (/) (United States Department of Agriculture).— Hogs—Receipts, 19,000 head; mostly 5a15 higher; fairly active at advance: top 9.50 paid for numerous loads of 200-260 pounds butchers: medium to choice 250-300 pounds, 9.00a9.50; 200- 250 pounds, 9.00a9.50; 160-200 pounds, 8.7529.50; *130-160 pounds, 8.40a9.25; packing sows, 8.15a8.75; pigs, medium to choice, 90-130 pounds, 8.25a9.00. Cattle—Receipts, 2,000 head; calv 1,000 head; slow, steady on steers hardly enough here to make a market; demand still narrow for inbetween grade heavies; such kinds, 1.00a1.50 lower for the week; firm to higher trade on she stock at 50a75 higher prices than a week ago; best yearlings today, 16.50. Slaughter classes—Steers, good and choice, 1,300-1,500 pounds, 13.50a17.75; 1,100-1,300 pounds, - 13.75a17.75; 950~ 1,100 pounds, 13.75a18.00; common and medium, 850 pounds up, 8.75a14.00. Fed yearlings, good and choice, 750-950 pounds, 13.75217.25. Heifers, good and choice, 850 pounds down, 13.25a15.75; common and medium, 8.00a13.25, Cows, good and choice, 9.25a12.00; common and medium, 7.2529.25; low cutter and cutter, 5.90a7.25. Bulls, good and choice (beef), 9.50a11.00; cutter to medium, 7.00a9.75. Vealers (milk fed), good and choice, 13.75a15.50; medium, 12.50a17.75; cull and common, 8.00a12.50. Stocker and feeder steers, good and choice (all weights), 11.00a12.50; common and medium, 8.75a11.00. Sheep—Reccipts, 7,000 head; fat lambs strong to 25 higher; early top, 14.35; bulk comebacks, 13.50a13.7 4| sheep and feeders steady. Lambs, good and choice, 92 pounds down, 13.25a 14.50; medium, 12.50a13.25; cull and common, 8.50a12.50. Ewes, medium to choice, 150 pounds down, 4.50a6.85; cull and common, 1.75a5.00; feeder lambs, good and choice, 12.25a13.35. A library on business ethics been donated to the University of Pennsyl-' vania, N s |WHEAT IS HIGHER IN EARLY TRADING Market Opens at Advance on Ex- pectation of Smaller Crop Figures, By the Assoclated Press. CHICAGO, November 9.— Adverse weather, both over the wheat harvest region in Argentina and the United States corn belt, tended to lift all grain prices early today. Besides, corn_traders were expecting the Government crop report this after- noon would show a reduction of yield compared with latest unoffical figures. Opening 13 to 33 cents up, wheat later scored slight additional gains. Corn started at }g to 53 advance and after- ward hardened a little more. Provisions were firm. With Liverpool wheat quotations somewhat higher than looked for, and with unwelcome showers reported from Argentina, offerings of future deliveries of wheat in Chicago today were rather scarce at times, and traders showed considerable preference for the buying side. It was contended, however, that official weather reports from Argentina showed rainfall of late to be no more than normal where Argentine wheat is ready to be cut, ‘and that moisture further South is beneficial, First sales of July delivery of wheat this season were made in Chicago today, the basis being !5 cent over May. buyers of corn future deliveries a good deal of the time today. Snowstorms in Iowa and rains elsewhere in corn ter- ritory were a bullish factor, and there were predictions that the November of- ficial estimate of corn yield would be between 2.875,000,000 bushels and 2,- 896,000,000 bushels, against recent private forecasts that averaged 2,912,- 000,000 bushels. Moreover, corn arrivais in Chicago today were only 135 cars, bardly half as much as a week ago. — . DIVIDENDS. Reg - Hidrs. of Company. R . Alab Gt South R e T, PN ko m Rv Express. Associated G orig pe Do’ 37 b 31,15 Brach (E ) & Sons.50¢ Campbell Wyant & Cameron Fdy.. Casein Go of Aim Cleveland Sten Do. sk P13 Dazeplne Firest T&R 77 | General Motors. Georgla Soi Ry 1st p . 2n. 2.5 Guantanamo Sug b, . Holland Furnace. .. Do. pf... 53.5 Hollinger Cons Imperial Oil, Ltd Ludiow Mg’ Asso.’$2.50 Nat Dairy Prod.. Do. pf A........% Do. pt B i Nebr Power pi. " 3175 Pender Grocery A 87is¢ Phoenix, Ho ist pf.£1.75 Do. 2d pt.. Pitts B& LE R pf . S99535 - - o 20022 0000000000 000 IR 000DOOOOPODOOODOF POODOOOOOD! i nn L nnnunpg FEPEE 5z and Furna Imperial Ol Ltd nter Cigar Packard M Ci Vacuum_Of Welch Grapé Juice. Increased. Brown (J W) Mg.37%c Q ictaphone Cor Piireen Rouee R, =y ;1310 .. 51,50 M ar-<.....50¢ E SRS TR i & = 2 Gen Pub Serv. Rhine Westplai Pow (Am. Safewa: United E Stor v lise @ em 1 res niew, n. Snirt Distr.1215¢ @ Nov. 13 Federal Lt & Trac Gen Pub’ Serv..... tPayable in cash PARIS BOURSE PRICES. PARIS, November 9 (#).—Prices im- proved on the Bourse today. Three per cent rentes, 64 francs 40 centimes; 5 per cent loan, 91 francs. Exchange on London, 124 francs 13 centimes. The dollar was quoted at 25 francs 50% centimes. 8 RIS AT S NEW YORK BANK CLEARINGS. NEW YORK, November 9 (Special) New York bank clearings, $1,407,000,000. New York bank balances, $145,000,000; New York Federal Reserve credit bal- ances, $104,000,000. Commission houses were persistent | 3 i | e = COTTON IS STEADY IN INITIAL TRADES Market Shows Slight Advance as Buying Movement Con- tinues. By the Associated Press. NEW YORK, November 9.—The cot- ton market opened steady at an advance of 3 to 9 points on a continuation of yesterday's buying movement, which, seemed to find additional encourage- ment in a bullish view of the standard cloth statistics for October, showing sales of 41.1 per cent in excess of pro- duction, and relatively steady Liverpool cables, The advance met a good deal of realizing and some Southern hedging, but it was readily absorbed, with prices selling up to 19.50 for December and 19.35 for May, or about 14 points above yesterday's closing figures by the end of the first half hour. The buying was attributed to covering or rebuying by recent sellers, together with a mod- erate trade demand and some buying for Liverpool account. Private cables reported London, con- tinental and Bombay buying in_Liver-' Ppool and said that hedging was light. TREASURY CERTIFICATES. (Reported by J. & W. Sellzman & Co.) Rate—Maturity. Bid. Offer. 3%is Dec. 15 192 £0027-32 99 29-33 s Dec. 99 9931-32 9918-32 9921-32 99 24-32 99 26.32 1002-32 100 4-32 ¢ 100 16-32 100 18-32 98 983-32° 9731-32 982-32 9731-32 982-32 . FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks value (or par). ay. London, pound e Paris. franc 193 1039074 me. : Zurich, franc. Athens, drachma Madrid, peseta Vi schilling. pengo SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.r B, Oftr. 10244 99 . m: i 9414 101% 102" Allis-Chalmers Co. 5s 1937 Aluminum Co. of Amer. 5t Amer Tel. & Tel. Co. 4s Anaconda Corper 6s_ 1920 Balto. & Ohi) 4'ss 1933, 1l Tel. of Canada 55 i9: alifornia Pet. Corp. 5'as Canadi at. Rwy. 412 98 1034 3 13:3‘1 o i 943, 991 94 * 23! WS i Rwy. in t. Corp. 4las olumbia_Gas & Elec. 55 1952. 5 h 415 1930 o, s 1037 1 s 1957 1936. 333582333333323: i 5128 i 1938 Pac_R_R. 4s 1929 Standard Oil N. Jersey 55 1946. 1 & So. Ry. 4s 1929 1932 100 . Calif. U. 8 Smelting Co. 5'ss 1935 Western Electric Co. 35 1944. .. 10: Westinghouse E. & M. 55 1946 Wheeling Steel Co 1948. CHICA_GO DAIRY EA—BKET. CHICAGO, November 9 (#).—Butter, unchanged; receipts, 5,734 tubs. Eggs, higher; receipts, 3,647 cases: extra firsts, 44; firsts, 38a43; ordinary firsts, 28a31; refrigerator extras, 31'3; refrigerator firsts, 30%%. Poultry, alive, steady; re- ceipts, 4 cars; fowls, 22a25; Springers, 25a26; roosters, 20; turkeys, 30a35; ducks, 17a23; Geese, 22. | Open at 8:30 A.M. Daily Accounts g Frien&ly Counsel is Always Available —for those who bank at “Frank- lin.” That's one reason why business men and others find it so satisfactory to carry their ac- counts with us. Franklin National Bank Penna. Ave. at 10th St. N.W. 1111 Connecticut Avenue JOHN B. COCHRAN THOS. P. HICKMAN President V. |l|IIIIIIIIIIIIIIIIIIIfilIIIIIIIIIIII!IIIII!II“IJIIllllllllfifiifilifilll SH Al cation to investor, erties securing these alway dence as to the safe Telephone:Main 2345 1417 K st UNLIMITED Funds for LOANS On Improved lReal Estate Nearby Maryland. Virginia and the District of Columbia An Investment Privilege Dipersification Allows You Your Choice ON & LUCHS First Mortgage tes offer a great degree of divers The improved prop- Notes are located in the most desirable residential and business sections in Washington. Thus you may invest in the location and type of improvements you consider most advan- tageous—and always with utmost confi- and payment of both interest and principal. First Mortgage Tnvestments 1435 K Street, Northwest X Y For Periods of 3,5 or 10 Years Low lnter—est Rates and Charges BOSSEFHELPS Founded 1907 Main 9300 Loan Correspondent John Hancock Mutual Life