Evening Star Newspaper, November 10, 1928, Page 27

FIN ANCIAD, TINANGT ALy CONVERTIBLE BOND ISSUES IN DEMAND Oils Take Lead in Trading. Copper Shares Are Quieter. BY CHARLES F. SPEARE. Special Dicwesem 1o The Star. . NEW YORK, Novem 10.—Nearly all of the trading in which substantial gains were made today occurred in the convertible bond list. Of these the oils were the most prominent. Barnsdal! 6s rose 2 points and Simms 6s over 3 points. Transcontinental Oil 6'2s were up 1'; points and Pan Amer- ican Petrolcum 6s a point. The copper convertibles were quieter and at one time all were half to one below vesterday’s closing. An advance in Liquid Corbonic stock to a new high price carried the 6 per cent bonds along with it, the gains supplementing the 15-point rise yesterday. The market for high-grade izsues was quiet, but with fractional gains in some of the members of it. So were the secondary grades of rails, which were irregular in price. St. Paul adjust- ments advanced to 77. Although many different foreign issues were quoted at prices about as | they have been recently, the better political outlook in France has an im- plscruml bearing on all European doilar sue. Short-term bonds have rallied with the better sentiment and the tempo- rarily easy money rates. The short Treasury certificates continue to im- prove with the new 4%s, approaching a 4 per cent basis. i Washinglon Stock_E;change SALES. Cfipll.:ll Traction Co.—10 at 10612, Pot.omar Electric 5!5% pfd.—5 at 109, 5 at 109, 20 at lflD Wrs)‘;mmon Rwy. & Elec. pfd.—15 at Cummsrclal National Bank—50 at 258. Riggs National Bank warrants—I14 at 315, 4 at 315, 1 at 315, 13 at 316, 10 | at 316, 1 at 316, 2 at. 31615 19 at 319, 2 at 319, 9 at 319, 180-265 at 320, 230~ 263 at 320, 195-265 at 320, 110-265 at 320, Warrants continued — 105-265 320, 105-265 at 320, 10 at 320, 55-265 at 320, 135-265 at 320, 320, 260-265 at 320, 10 at | at 140-265 at 40-265 at 320, 180-265 at 320, 125- 265 at 320, 130-265 at 320, 65-265 at 320, 310-265 at 320, 270-265 at 320, 115-265 at 320, 142-265 at 320, "35-! "65 at 320, 280-265 at 320, 120-265 at e ' Paper pfd.—5 at 881 Merchants’ Transfer & Storage pfd.—10 at 108. Mex;gg;\th;ler Linotype—20 at 100'3, 15 al Sanitary Grocery pfd.—1 at 161. AFTER CALL. Capital Traction Co.—10 at 106!5. Capital Traction 55—$500 at 102. ‘Washington Gas 55—$1,000 at 103. Riggs National Bank—1 at 570. Potcmac Electric 8s 1953—$1,000 2t 108, ‘Washington Gas 6s A—$200 at 104, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid. Asked. 99 “Tel; 4 . ctl. Anacn‘;ul & Pot. R, R ve: to X hnnes. Bi. | Japanese 61zs..... Received by Private Wire UNITED STATES. (Saies are in $1.000.) Sales. High. Low Close Lib33%s.... 15 9915 9910 9915 Liblst4is 10 1011 1002 1002 Lib4th 43s 11 1013 1011 1011 US4%ss2. 5 11226 11226 11226 FOREIGN. Sales. High. Argentine 6s Juy. 6 100 Argentine 6s B..... 13 100% Austialia 4% .20 881, Australia 58 1955... 13 96k Australia 58 1057.. 34 964 Austria 7 4103 Bank of C 4 98 971 9B Belgium 6s 7101 100% 100% 9 10612 1061 1061 10 108% 1077« 108k 9 106' 1057 106k 4 115% 1154 115% 4 110% 110 110 6 105': 105's 105% 15 10013 100's 1001, 961 96V 961y 963y 3 100%2 100 1007 6109 108% 108% 2 101% 101 101% 3105 105 105 42 100% 8 9313 6 9315 32 108 3 o1m 2 98% 12 96% 4103 1 109% 1109 Low. Close. 997 ! 998, QQ“ 881 884 96 96l 9% 96 102'2 1021 | Belgium Belgium 7s 1956 Belgium 71;s. | Belgfum 8s. Bolivia 8s. ... Bordeaux 6s. Brazil 6155 19 Brazil 6128 1 Brazil is.. Brazil §; Canada Canada 57451039, Chile 6560, Chile 65 '61 Chile 78 1943 . Colombia 6s Jan'61. Con Pow Japan 7s Copenhagen 5s ct. . Cuba slgs. Czecho 88 1 Czecho 8s 1952 { Denmark 6s. ... DEI5%s Mch 53 Dutch East I 65 47. ‘ Finland 5%s 911y Finland 7s. . Framerican 7138 French 7 French 71;s. German EI P § German'Ts. ... Greek 7s. Haiti 6s...... Hungary 715s. Irich Free State 5s. Italy {Italian Pub 877 Japanese 4s . 981 988 96 96% 1025 103 1093 109%; 109': 109% 105 105% 103 103 104% 1041 9ty 91 100 100 10515 105% 107 107 14 114 96 96 1065 106% 8L, 98y " 99% 102 24 96% 28 97 1 984 11 92y 62 101% 8 100% 4 1001 1 23 6 24 4 91% 3 100% 3 943, 5 9415 3 1024 16 14 101% . 5 102% « 11 1028 1 1055 19 1071 11 114% 11 96 29 1067 2 984 1 96% 92% 92y 1011 101% Lyon 6 100' 100% Marseille 6s. Mexico 43 04 asntd. Mexico 43 '10 asnt. Milan 61;s. : 23 ord 6138 Norwa, | Norway 51;s.. 1024 1025 97 101 101% 1028 1023 102 102% Orient Devdeb 6s.. 10 98% 97% 974 Paris-Ly-Med 65... 12 99% 9915 993, Paris-Ly-Med 7s % 1041 104% Peru 6567 w 1. A 91 91 Peru7iis. .. 107% 107% Poland 7s (rcts) .. 8714 871 Poland 8s. 991 991 | Queensland § 111% 111% RhineWst EP 6 91k 9lls RhineWst EP 6353 22 9414 Rio de Janeiro 615. 2 96 Rome 61:8......... 12 925 Sao Paulo 851936.. 2 106% Saxon (PW) 7s.... Seine 78 42, Shinyetsu §13s Soisrons 6s. . Sweden 5145, Sweden 6s. Swiss Confed 8s. ... Tokio 58 Tokio 2 111% 2 5 91% 923 106% 106% 901z 994 1041 104% 103% 104 10215 102% 109% 109% 1 78% 783 78 9 90% 901 9OV Utd lilngm 515837, 14 104% 104% 104% Cruguay 8s. 13 108!; 108 1081 MISCELLANEOUS. 2 100 1001 100% | ¢ 100% mow“"& ' Direct to The Star Office RAILROAD. Saies Higi Atl& Dan1st4s43. 1 77 Ati& Dan2d 4s48.. 4 72 Atlantic CL 43,564 3 100 B&Ocv 448 99 102% 102% 8684 85% T4 981y 943¢ 94% i Brookl: n Elec 6125, | Brooklyn Elev 6355, Can Nat 41; lnonkor\( Ches & O gn 41y Chi & Alton 3x. CB&QUIY Chi&E 111 gn 53 ChiGt West 4559, , CM&StPgnsy... ChIM&SLPY 1y g ChiMilSP&Pa 96a 761 99% 968 77 100 1075 Chi Chi & JlChR1&P L CRIPac4isw oy Chi Un Sta 4158 Chi Union Sta 614 10115 100% 1154 115% 1043 104% E 10013 1001 Clev Term 0%s.... 3 109'5 1095 el & Hud 1st rf 4s. 9410 944 Den & Rio G en 4s. . 9 92 100 100 998 9915 110% 110% 6 113 112% 8275 884 99 . 98% 101% 101 100 9915 110% 13 887y 99 Gt Nor 413576 D. Grt Northn 4145 E Great Nor gen Hud & Man aj 5s. Hud & Man ref 5 11l Cent 43;s 68. Int Rapid Tran Int Rap Tr Int Rap Tra Int & G Nor 994 lle'q 105% a1 20 838 BS 9% ¥ 931, 93 76 6% 1014 101 98% 981 95% 95% 68 684 97 97 90 891 1003 1Uo< Int K A IntRyCA 5‘/" ret. Kan City Ft 8 ¢s. Kansas City § 3s. Kansas City 8 55, Roxe mnxx~ln Louis&Nash uni 4s. Man Ry 1st 45 90. .. Market St 7s 40. M St P&SSM cn 4s. M StP & SSM 613s. MK&T4sB MK & T adj 58. MK&TprinsA. Mo Pacific gen 4s. Mo Pac 58 F 77. Na NOT&M N Y Cen gen N Y Cent 4s 42 N Y Cent del !s» 106% 106 107 107 N Y Rys 65 65. N Y State Ry 41;s YStateRy 6%s 62, rfolk & W cn 4s. Nor Pac 3s 204 . Nor Pac 4128 2047 Ore Short L rfs 4s. Pennsyl gen 1} Pennsyl gen 5s. Pennsyl 55 64. Pennsyl 6135 Pennsyl gold 7 RN NERNE R A CANE R TR~ - 100t; 160% 9% 99 10175 101% 1035 108% 101 AmAgriChem T35, 5 1041 104% 104% AnSmit& R Ist 5s. 10 101 100% 101 Amn Sugar Ref 6s... 4 1041 104 104 AmT&Teltrds.. 22 991 99% 998, 9 104% 104% 104% 7 106% msu’ 106% 9 108 1077 108 22 105% 105% 105% 15412 1556 16815 169 93 93 T 92% 924 92w Am Tel & Tel 51;s. Anaconda 1st 6s. ... Anaconda cv db 7s. Andes Copper 7s. Armour&Cod 15839, al wasmn ton Gas Ss. Wash. Gas Gs, series A. Wash. Gas s, scries B. Wash. Ry. & Eiec. 4s. Wash. Rwy. & El MISCELLANEOUS. Barber & Ross. Inc.. 8%as 98% D. C. Paper Mfs. 6s. 9% ¥ Fot. Jogat Stock Land Bank 5. 1% sh Mkt. Cald Storage 55. Cons. Title Co. 6s. Wardmea Park Hotel 873 STOCKS. PUBLIC UTILITY. Amer. Tel. & Telsa.. 104% Wasi Elec. s Wash. Rws. & Elec. pid. 0012 NATIONAL BANK. Naticnal Capital. Columbia i i Second . 3 e 2 Naticnal Bank of Washington. 305 TRUST COMPANY. pmerican Sec & Trust Co ntinental | Trus Merchants' Bani i3z g:uon-) snvmn & Trust nion Trust ashington Loan & Triusi: SAVINGS BANK. ank of Bethesda 5 mmerce & Savings. : gast Washinston. K] irity 495 Washinston - Méchanice’ FIRE INSURANCE. American Corcoran_ . Union TITLE INSURANCE. Columbia, Title 36 EI G ot Md. ‘Wash. Cons. Title pfd. iremen Natioual Re Cony %”R \?;h 1 Blds Ath Medicel Bids Corp. . iward & Lothi ron . Club Fielropolitan Clib"4as.”, STOCKS. Anzcostla Bank. 'pid ks 87 pld. Conneetiom pio oha Chr. Heurich Brewery., Departmental Bank District Title Ins. Co. Franklin National Bank. International Miller Train Contiol Munsey Trust Co North Capitol Savings Bank Northeast Sayvines Bi Bork Savines Bon Raleigh Hotel Co. Washington Savin Washington Title 1 Washington Base Woodridee-Lans CRUDE OIL PRICES RISE. BALTIMORE, November 10 (Spe- clal) —The various grades of Pennsyl- vania crude oil were advanced 15 c 8 barrel here yesterday. It is expectes that Midcontinent high-gravity crude oll will be marked up shortly, accord- ing to advices from Tulsa. Production in that fleld has been de- creasing for some time, and some com- anies are drawing n stores stocks, s is reported here, re much of the ‘Texas oll is refined. - Bail Club.. . Savings Bank 3 102% 102% 102% Barnsdall 6s 1040. - 108 156% 153 Bell Tel Pa 55 C, Bethlehm Stl pm s Beth Steelrf 5s.... 3 101% 101% 101% Beth Steel 5135 53.. 8 103% 103 108 Bethlehem Steel 6s. 15 105 104% 105 Bklyn Union53s.. 3 315% 316% 315% Certain-Td5%srcts 7 90 881 90 Chile Copper 5s. 26 97% 97 97 Colon Oil 6538 T4 106% 105% 106% Col Gas&El deb b: 45 101% 101 101 Con Coal Md 1st §s. T8 ConGasNY 5%s.. Consumers Pow 5s. Cuba Cane 83 Cuban Am Sug 8 154% 2 109% 109% 109% 4101 101 101 1 104% 104% 174 9. 8 103% 1084 13 103% 108% East CubaSuzi%4s '3 90 90 Fisk Rubber 8s.... 1 111% 111% Gen Mot Ac Cor 6s. 1 102% 102% Goodyear 5srets... 35 93% 933 Humble Oil 5s. 2 100% 100% Humble O& Ro%s. 3102 101% IntlCement 55 48.. 85 103 1024 Intl Match 5s 4 18 991 99% Int Mer Marine 6s.. 1 102% 102% Int Paper 5s 47 Inter Paper 6s. Int Tel&Teleg 4155, Kan City P & L 5s. Kelly-Spring 8s. Lackawanna Stl Laclede G 6145 Lorillard (¥) 7s... Loulsv G & E 55 52, ManatiSug st 7 Mid-Con 63 4 Midvale Steel 5 Mont Power deb 5s. Mor's&Co 15t 414, NewEnglandTel Y kdison 6335 2 104% 104% 7110 110 5 1025 1021 2 104% 104% 7 1043 104% 3 103% 103% 6 95 94 3 105% 105% 7100 100 19 101% 101% 88 88 1 107% 107% 1 1151 115% 34 101% 10114 5 1067 106% 1 110% 110% 1101 101 1 1024 1028, 11011 1015 Nor States Pow 68, 2 1055, llld"’u Pacific Gas & El 5s. PacT & T 1st 58 PacT& T 5s Pan-Amer Pete 65 Paramount 6s 1947, Pathe Exchange 7s, PhilaCo 58 67 wi.. Phila&ReadC&I 5s. Philips Petro 5% s Postal Tel & C 5% Pressd Steel Car 'i! 9 Public Service 4148, 10 1507 150% Punta Alegre 7s. 3 96 96 minztonAr 6532, 1 991, 99 m Rnd 51,8 war. 11 93, inclair O116s...... 7 993, Sinelair Oil 6. . 3 101% un 2 Sinclair 01l 7s. . 9 103 Sinclair Crude 5'3s. 10 98 Skelly Oil 5%s 4 95y South Bell Tel 5 2 104 8o Por Rico Sug s. 1 106 106 Stand OIIN J 55 46. 2 103 1027 TennElecPow 6s47. 15 106, 1081 United Drug bs 53 2 105% 105%; 31108 107 8 1004 100% 963, »7“ 95 104 108 1 100% 100% 181 gy 12 104 103% 2 104% 104%, 1103 103 2 101 101% 8 101% 101 Westinghouse Willys-Ov 6 . Wilson & Co 1st 6s. Yngstn S&T 55 wi. Atlantic Refining Dividend. NEW YORK, November 10 (#).—The Atlantic Refining Co. today declared an initial quarterly dividend of 25 cents on the new stock, created by the recent 4-to-1 split-up, placing it on a $1 an- nual basis, which is equivalent to the $4 lasis of the old stock. The dividend is payable December 15 to stock of rec- ord November 21. 101% NEW YORK BANK CLEARINGS. NEW YORK, Novembsr 1) (Spe- cial) —New York bank clear.ings, 81, 499.000.000; New York bank balances, $134,000,000; New York Federal credit balances, $116,000,000, 10271028 1045 104% 8612 85% 9 97 100% 9974 95 95 905 90% 0% 9y 92t 92 62% 62 41 40%; 79 79 2% 72 995, 9913 Pere Marq 15t 5s, Rio G West cl 4s RIArk& L 4%:s. StL IM&S gn 5831, St L IM&S R&G 4s. BtL&SFpl4sA StL&SFrilas T San A & Arn P 4s. Scab A L ref 45 SeubAL adj 58 1949, Seab A L con 6s.... SBAIFIa6s35 A, Sou Pac 4 Sou Pacific ref 4s. . Sou Ry Mo & O 4. Texas & Pacific 1st. Third Ave ref 45 60. Third Ave adj bs Union Pac 1st 45 Union Pacific 4s 68. Whash 43;s 78 ret: Wabash 55 76 B. . West Maryland 4s, . Western Md 5%s. .. Western Pacific 5s. Wilks-B & El 1st 58 1114 111% hfi 6613 61 96% 898, 9319 101% 1013 83 83 2 100% 100% 6100 991 1 69% 69% DUN'S WEEKLY REVIEW. NEW YORK, November 10 (#).— Dun’s Review says: The outburst of great speculative ac- tivity that followed the national elec- tion has had no counterpart in strictly commercial movements, although the buoyant tone of general trade and of sentiment reveals a further strength- ening. Exceptions to that trend are by no means completely absent, yet their influence is more than offset by the wholesome progress that is occurring in a widening circle of business enter- . Plans for the future expansion of operations also are engaging closer attention and the composite outlook, with allowance made for the unsatis- factory features which still prevail, is such as to stimulate confidence. One hase that recently has attained a rger prominence and s lnclncc is the more advantageous position of some sellers with respect to prices, particu- larly in certain markets where the level of quotations has for a long tlme left either a small margin over costs or where the difference has been so slight as to be practically imperceptibie. ‘Weekly bank clearings, $10,605,339,000, an increase of 17.5 per cent over a year ago. SHORT-TERM SECURITIES. (Reported by J. & W. !clllmln & Co) Allis-Chalmers Co. 5s 1937. Alumi oS m Co. of Amer, $s 108 1952 101 mer. Tel el An ARt S Balto & c°u°'4m 1933 g2Sgesesiin: §= a e Michign oc':l o 2 chigan Cent.” Rwy, Oregon_Short Line 4s 1029 Pure” Oil Corp. 5145 Ehell Onlos O G0t se | Binclair Crude Ol Go. 5! L P ., 5 Swift & Co. 5s Union Ol Cn (‘ull' ‘55 1933, . . Smelting Cn b’al 1938 Whecling Steel Corp. 5'2s 1948. 101 TREASURY CERTIFICATES. (Reported by J. & W. l!“lmln & Co) Rate—Maturity. Offer. 3'4s Dec. e . 9 " ” 99 20-32 Dec 29. 104 101% FOREIGN EXCHANGE. (Quotations furnished by W. B. H! (oo v BONDS s ]\ i REGORS ARE WAL ON CLRS ? Sales in Buying Wave, Speculative Sends Stocks Upward—Ra- dio and Oils Active. BY WILLIAM F. HEFFER! Special Dispatch to The Stsr. NEW YORK, November 10.—Surging forward under the influence of a great wave of speculative buying stocks on the Curb Exchange today set up new high records in almost every class. The opening was very strong with large blocks changing hands and practically all at higher prices. Features were so numerous that it was difficult to single out any one for specific mention. Swift & Co., on =« comparatively small turnover rushed up |8 points, touching 144, the best of the | year. Of late inactive, the stock today | was responding to the batter outlook {for the packers, Columbia Grapho- phone, an old time favorite, went to a new high early in the session. ‘The leader in the radio group was De Forest. It opened on a block of 13,300 shares at 26, up 2 points and at a new high, and changed hands in large blocks around this price. Other industrials in favor were Hiram Walker, General Mills, General Fireproofing, St. | Regis Paper, Syracuse Washing Ma- chine, Granite City Steel, Safeway Stores and Massey Harris, all making new high records. The oils were not neglected. Barnsdall warrants went to a new high right at the start. American Maracalbo made its new high on the npt‘mn" sale of 118,000 shares. Cities Service improved lits best previous price by a fraction. Ohio Oil at 71 was up 2 points on the day and at the best of the year. Electric Bond and Share Securities was very acti COTTON PRICES GAIN. Market Becovern Early Losses and ’ Closes Steady. NEW YORK, November 10 (#).—The cotton market opened at a decline of 8 to 14 points and sold 11 to 16 points net lower during the first few minutes under a renewal of liquidation and some Southern selling. The decline to 19.16 for December and 19.06 for March seemed to bring in some trade buying. however, and the market steadied up with prices just about recovering their losses by the end of the first half hour on covering coupled with some com- {mission house buying. The amount of cotton on shipboard awaiting clearance at the end of the week was estimated at 160,000 bales, against 168,000 last year. Private cables reported hedge selling and liquidation absorbed by trade calling and continental buying in Liverpool, but said that higher prices were checking business in cotton cloths. Futures closed steady, 6 to 14 points higher; December, 19.37-19.39; January, 19.32-19.33; March, XS 30-19.31; May, 19.17-19.18; Jul Spot aleady , 19.0: m‘ddllnz 19.55. Plant to Ee Enlarged NEW YORK, November 10 (#).— i About $1,000,000 in new units will be added to the Adamson Flat Glass Co. plant at Clarksburg. W. Va., Libby:. Owens Sheet Glass Co. of Toledo, Ohio, recently acquired a substantial interest in the company AGENT FOR IRISH BANK. BALTIMORE, November 10 (Spe- cfal) —The Baltimore Trust Co. has been appointed one of the five Ameri- can banking institutions which will act as agents in this country of the Mun- ster & Leinster Bank, Ltd., of Ireland. The local bank will handle remittances and all other American-Irish banking transactions for the Irish institution. The Munster & Leinster is one of the oldest banks in Ireland and has re- sources of $134,000,000. Baltimore Markets BALTIMORE, Md., November 10.— Potatoes, white, 100 pounds, 75al.li sweet potatoes, barrel, 1.50a2.75; bushel, 50al.15; yams, barrel, 2.25a2.75; beans, bushel, 3.00a4.50; beets, 100, 4.00a5.00; brocoli, bushel, 60a75; brussel sprouts, quart, 10a20; cabbage, 100, 3.00a6.00: carrots, 100, 4.00a6.00; celery, crate, 1.25 82.50; caulifiower, crate, 1.50a2.50; kale, bushel, 50260; leituce, bushel, 75a1.25; lima beans, bushel, 2.50a5.00; onions, 100 pounds, 1.25a3.75; oyster plants, 100, 6.00a7.00; parsnips, basket, 50a60; peppers, basket, 35a40; pumpkins, 100, 8.00a20.00; spinach, bushel, 50a70; toma- toes, crate, 2.50a3.00; turnips, basket, 25 a40; savoy cabbage, bushel, 90al.15; ap- ples, bushel, 75a2.00; cranberries, box, 3.00a4.50; grapes, basket, 40a55; pears, b?hel 1.25a3.00; grapefruit, box, 2.00a oranges, box, 2.50a5.00; Kieffer pears, basket, 20a35. Dairy Markets. Live poultry—Young turkeys, pound, 45; old, 35a40; Spring chickens, 20a20; Leghorns, 20a27; old hens, 23a20; Leg- horns, 21a22; small and poor, 20; old roosters, 18a20; ducks, 22a25; small and old, 18a20; geese, 20a25; guinea fowl, each, 40280; pigeons, pair, 30. Eggs—Receipts, 724 cases; nativc and nearby selected whites, free cases, dozen, 50; firsts, 45; current receipts, 40. Butter—Good and fancy creamery, pound, 46a5: rints, 51a53; blocks, 49 a51; ladles, 35a38; store packed, 33; process butfer, 42a43. Hay and Grain Prices. Wheat—No. 2 red Winter, expol’t no quotations; No. 2 red Winter, garlicky, spot, 1.34%; November dellvery. 1.34%; cngon on grade, no sales; bag lots, no carn—No 2, domestic, yellow, 1.05; cob corn, 4.10a4.25. ts—No. 2 whi!!, 5213a54; No. 3, 4852 Rye—Nearby, 1.10a1.20. Hay—Receipts, none; new hay is ar- riving in only limited quantity. It is, therefore, not being offictally graded and sells strictly on its merits, within range of 16.00a18.00 a ton, timothy and clover grades. Straw—No. 1 wheat, 11.00a12.00 ton; No. 2 oat, 12.00a13.00. BALTIMORE STOCKS Special Dispatch to The Star. BALTIMORE, November 10.— ales. STOCKS. Last -Sale lflokl'umlel Corporation. 39' 0 Commercial Credit c 3“ Commercial Credit p 6 Consolidated Gas con 25 Consolidated Gas 5. cum I’!ffl A 77 Maryland Mor(une Co. pf: 10 Uiioey Rawag e Eleciri hited Rallway & Eiectric ‘IM United Porto Rican Sugar com. 7U S Pidelity & Guara: DS 2000 United Rwys. & Elec c. Ist 48 FEDERAL I.ARD BANK BONDS. Special Dispatch to The Star. ' NEW YORK, November lo— Bank :} May 1088-38. R N 'mz 2. ) 0 Renk Ha JJ:“;’ 3 5 Jen. DR 23 dar Bank s .vuly nk 85 ‘Nov. ERRd Biak 3 Moy lotienst: 4 10830p33 19540034 834003 NEW. YORK CURB MARKET Received by Private, Wire Direct to The su,- Office Following is a list of stocks and bonds traded in on the New York Curb Market today: INDUSTRIALS, undreds. STRIALIYD. Low. Close. 39 Acoustic Prod 185 M O w,snn & Co.. 2 Swiss Am_ El pid 130 Syra W Mech B! 8 Tex Corp rts wi Det. ? Fiohkaen Henior 4 Trans Lux Pict 1 Irivlex Set m. & C p pld Btates Sec Sta Sec war 1 Anchor Cap_pfd . 11 Anglo Chil Nitra ssg<< Valaveen 3 Walareen yar 2 Watson J W 2 Boeng Atrplane wi 12 Boeing Airpiane pd wi w 2 Brist Myers . g it-Am Tob B Sales in hundreds. 10Am Con M & M L Tet 20 e ol 78 Batcon Lead Fiin: 29 Golden Center M. 10 Golafid S Hecln Min. - 1 Hollinger 24 Hud Bay Min & 10 Iron Cap. Coppe 4 Macon Vel 20 New. Cornel'a Newm s 1Cent P\lh B A 5 Cent Stctes El . lC!nL States El wl . 1Cent Sta El Cit 8P &L N 123 Notands 10 Portl Gold in 8 Roan Antelope Co n 35 Consol Film 4 Consol G Bat} [elelvlelolvlol=le elo) nd B3 6 0 Bha 1 Dvest nc P& Lo ec Shovel r ot Pow Ci i sgumnflnnnm ans Aufo L 80 Nortav. u. chila \ Fi ™D A ... Andango Corp & 4 P'nr'la!m F‘:nnv Far Ine | e 1s ctf 2 ilencs & 1 Eienes Sons vid Assn Dl o D005 B it @ Transe Ofl pfd.. e! es STANDARD OIL e TANR Bt 30 Ansio Am Ol .. 00 Atl L + 100 Ch M 2000 Gomt Ol ;é’w Vicuum Off . Sales in thousands. 75 Abra Strauss 5 5 Abitibi P & P Bs 12 Ale_Pow Shes; =usuBunsusausus, segdal 1 Intern 3 Intern 3 Asso Gas & Ei 3ras: 33 Aboc G & 1°4 20 Assoc C & g‘w;. ,gggm 0 2 asscs amasortSnmermromsse s, 5! \omess 55 33334 e B 383, B T v 0 SR B! avis ay Drug Btr... . c esson & % o ai 9 Wl pid 4 W U G bfd EZREEEXEERRE= SaaERiEg =2 Sue ¢ i Nat Theater Su trauss wi § Lone go 1Lo W, a7 3 Myhitoba. Pow 5':; A 1010 28! 2 Newton Steel AN Y Hambur 5 Niagara Shares. chols & shep jom 345 qulléEAchm Paw 3 Notthwess, Brgie 2 ontario, Mg E D Pros 0N P Niwe Fafle r u 17 Nor Am Ed T 8 "¢ mn Pow t'u.b 22232 YYD 2338 7 E i |mlm Gircle. « Phelp Dodse Col & Bhiite r 1 Philippe 5P 303, lcndeld ONL ton P BB Bonanmm o H oS! fl slll. n 1 Bow " Sneur 6 P 8ilk Hol Mll . Pubs P & Lo- 103 42332222 2 chulte United . hutter J Can A c G Am Inv W ec G_Am pf wi. 10 Van Gamn P 8 C! B WheTBTS "Maes s A oD 1yeerner avvllnlflu os. 2 Axla. 10 Transcon "Air Trsp.. MINING STOCKS. td. .07, B 0 .16 1t 9 L 1 » l a 420y o IH‘. 1911 D3 . 193" 231" 239" 231, _2232:2:33 » =23 @ e e e wlames w.m.mc..u.n-q.u. ISSUES AND FOR- IARIPHTQC 50 Cumb-rl-’ni? L. BONDS. wis nn;a . ias ww fiss;sz:xai:_ae;sé: 3 2: 352085355 02585, 222223335222333382 Sirauss -f d8n . T van Cemiv Paek s 920 92 " 03 Attt 160 18, | 000,000,600. | cigar (IGARETTE TRADE 1S SEEKING RECORD S'ales Figures Thus Far Point| ' to Banner Year for Industry. BY J. C. ROYLE. Special Dispatch to The Star. ' 'NEW YORK, November 10.—With the -election denfand a thing of the past, but with the Christmas sales in| immediate prospect, the cigarette in-| dustry is working at top speed to pile | up the greatest annual output the in- dustry has ever known. There is every reason to believe from sales figures so far that cigarette consumption in 1928 will be approximately 12 per cent heavier than in 1927. Already once this. year. consumption has exceeded 10,000,000,000 cl(nrettes in & month and it is believed the sales for the last quar- | ter of 1928 will aggregate at least 30,- The greatest gains have been recorded | by the four chief manufacturers, each of whom features at least one outstand- ing brand of cigareties. These concerns | account for about 90 pei cent of the | production. The smaller concerns have not enjoyed the same expansion sales as their larger competitors, most of them have not been able to engage in expensive advertising campaigns with | which the larger concerns have bolstered | trade. Even the larger producers have cut down on_their advertising - some- what, although it still is of enormous volume. It is regarded as a question by some economists whether this has been a good policy or not, since expansion of consumption was gained instead by a price reduction from about $6.40 a thou- | sand on the average to $6. .Sales Volume Gai There i3 no doubt that this cut. made last April, was for the purpose of speeding up sales, which had com- menced to fall off, For a time the effect of the cut wes not felt sharply, as it took a considerable period for the retail distributors to pass the re- duction along to the ultimate con- sumers. ‘The lower ulllnz prices naturally cut | the margin of profit, but the gain in | volume of sales has enabled manufac- turers to produce cigarettes more cheeply, as is always the case with quantity. manufacture. Then, too, the big concerns have put into effect many operating and - distributing economies and have insialled new and improved machinery, which has helped out co: Many of the smaller concerns have been unable to follow out this poiicy, although mest of them met the pri c;;ts announced by the big corpora- tions. Despite the unusual political cam- paign demarld, the output of the main manufacturers promises to be | about 3 per cent lower than a year ago. Economies of operation, however, will enable not a few of the companies to show as high earnings as they did & year ago. They have been aided by extensive advertising campaigns and by the installation of machines to do much of the work formerly donme by highly skilled employes. They also have gotten rid cf a& number of un- profitable factories and centered their | efforts in the better located plants. Onz of the striking features of the tobecco situation has been the improve- ment in the demand for snufl. This is traced by most experts to the regula- tions against smcking which prevail in many industrial plnnts and ofiices. This gain has undoubtedly been at the ex- pense of chewing tobacco to a large ex- tent, for the sales ol chewing tobacco | have fallen off unmistakably. v See Foreign Competition. The threat of invasion of the Ameri- can field by the British-American To- bacco Co. has not. et materialized, but it still is firmly fixed in the policy of that concern. Such a program would involve, it is believed, the building of factor in the United States. The company already secures most of its leaf tobacco from this country. The| concern has just formed a new £5,000,- tobacco securities ~trust to handle its investment :holdings, and some ' financiers profess to foresee in this move an cpening step toward com- petition ‘on their own gruunds with Ameflcan produccr! BUSINESS VOLUKE DROPS The volume of ‘business during_the week ended November 3, a5 seen from check payments, was somewhat smalier than in' the' previous week, but was larger than a year ago, according to the weekly statement of the Department of Commerce. Activity in steel plant: showed expansion as compared with hoth the preceding week and the corre- sponding period of 1927. The general index of wholesale prices again re- ceded 'from the preceding week but was still above the corresponding period of last vear. Prices for iron and steel and copper averaged higher than in either the previous week or the same period a year earlier, Cotton prices showed no change from the preceding week but were lower than in the corresponding ‘week of last year. Factory employment in Detroit, cov- ering the latest available week, showed a seasonal recession but was consid- erably higher than in the same period ‘of 1927. Bond prices averaged higher | than in the preceding weck but were lower than a year ago. Interést rates for time funds showed no change from the previous week but were higher than last year. Interest rates for call money averaged higher then in either prior grlod Stock prices receded from the igh level of the preceding week but | were still considerably above the level | of last vear. | The production - of bituminous. coa! during "the week ended October 27 showed gllm over both the previous week and the same period of last year. Freight car loadings for the latest available week were larger than in the corresponding period of 1937. Receipts of wheat at primary markets were largsr than a year ago. ttle receipts showed a decline from last year, but receipts of hog were greater than in the same period & year ago. Department Stores Sales. NEW. YORK, November 10 (#).— Sales of the American Department Sales of the American Department Steres 10 months were 810,215,306, against 57 462,658 a year ago. October sales $1,252,801 compared to §1,070,072 in lhc same month in 1927. Sales in thousan lAdrllnc Elec 7 s 46 et 4 Buenos Afres 7s 32 13 Buenos Alres 7is Com & Priv Bk 31as.. %65 3 Erce St Prus 6 2; Gelsen Min £ A 8 St oM Bk Finid 75 1001 o Iin “nld ‘78 1001 1316l w 65 L Mor Bk L) 1! ll lfl! WE FINAN(.E —all classes ot income-producing oroperty Large Loans a Specialty Current interest rate and commissior Higbie & Richardson, Inc, 816 15tu St. N.W. REALTY INVESTMENT - Fnl! Time Offered “Thes. E. Jarrell Co Realtors 721 10th Main LW Stroet Money ‘to Loan Secured oy first deed of trust on Prevailing Interest and commi Joseph 1 Weller 20 Mortgage Mney Loaned At Low Interest Rates Tyler & Rutkerford Representinz Mutual Beneflt Life Ins. Co 1520 K Street Main 475 In Nearby Virginia Prudential 5% nsurance Co. Loans Commonviealth Investment Co. 917 15th St. N.W. Phone Main First Mortgage Leans Avpications invited for first trust loans at 5]/2% Interect No eurtails—No appraisal fees Prompt Attention W. H. WEST CO. Founded 1894 1519 K Street Mzin 9900 First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. First Mortgage Sfld Construction Loan Applications Invited at 5%% Glover & Flather 1508 H St. N.W. Main 1753 Consult Us First If you need money for | your Real Estate financing et us have your application today. Prompt Service No Appraisal- The Commercial National Company Incorporated Paid up Cash Capital. §900.000 ial National Bank Blde. Commerela) e 'vnd ¢ n! a Ce Sz:periencc Property Needs Management —to be productive — and we have had an experience of more than a third of a century in productive man- agement of all classes of real estate — idential and business — especially apartments. If it's a problem with you let us solve it. BiF. SAUL €O, Main 2100 925 15th S¢. Loans Made Promptly E first mortgage readily available construction or eted prop- of interest 1y amount y meets views. have money for financing ior refinancing con erties. Low rate prevail on loans ir providing the proj with our conservative If you desire a loar Lnruc or small, give us briefly a descrip- tion and approximate valuation of the property. There is no obligaticn on your part. REALESTATE MoRTEAGE & GUARANTY CorPORATION Capitel Resources § 3,400,000