Evening Star Newspaper, November 12, 1928, Page 10

FINANCIAL. Mortgages Investments JAMES Y. PENNEBAKER Main5328 1520K St. N.W. First Mortgage Lcans Avplications invited for first trust loans at 5 1/2 % Interest No curtails—No appraisal fees Prompt Attention W. H. WEST CO. Founded 1894 1519 K Street Main 9900 First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Buck & Company Ell=rfl.}§::dl§910 Stocks Bonds Grain Cotton Write or call for weekly market tetier: " No obligations BUCK AND COMPANY. Evans Bldg. 1420 New York Ave. Franklin 7300 & QUARTERS ? When you move into larger quarters, it gives the impression that your business is ex= panding. Why spoil the picture by tak- ing along your old furniture? Replace your old furni- ture with new pieces from the selection at our attractive showroom. £ THE W. D. H CAMPBELL COMPAN Two Entrances 1018 15th St. N.W. 1506 L St. N.W. Franklin 5660 g Over a Third of a Century’s Ezperience Apartments Won’t Manage Themselves It requires trained judg- ment and competent fa ties to operate an apartment to the satisfaction of ten- ants and with profit to the owner. We have had over a third of a century’s experi- ence successfully meeting practically every problem that can arise. B. F. SAUL CO. Main 2100 925 15th St. Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street esire A LOAN? Mortgage Loans for Buyer or Builder You will find us ready to co-operate with you by sup- plying first mortgage money Do Yo for financing construction or for refinancing completed buildings, provided the property is of an economi- cally stable character, Without _ obligation on vour part just let us know the amount of the loan and details about the property. - REALESTATE MORTGAGE & GUARANTY " CORPORATION Capital Resources § 3,400,000 24 JACKSON PLAC ! ceived notification of the merger ap- | posted on the bulletin board. When 'SANITARY MERGER | PLAN1S APPROVED Stockholders Notified of Right to Exchange Holdings for Safeway, Inc. BY EDWARD C. STONE. Stockholders of the Sanitary Grocery Co., Inc, have approved the plan of reorganization, including the acquisition of the assets and business of the com- pany by a sub- sidiary of Safeway Stores, Inc, and the dissolution of the Sanitary Groc- ery Co., Inc. The plan provides that each common stockholder of San- itary Grocery Co., Inc., will receive three shares of new common " stock of Safeway Stores, Inc, for each share of Sanitary tary preferred stoek.” each share FOward G. Yonker. of which was convertible into one-third share of Sanitary common, have the right until November 26 to exchange their stock directly for Safeway com- mon at the rate of one share of Sani- tary preferred for one share of Safe- way common. The Sanitary preferred stock has been called for redemption at 110 and accrued dividends on De- cember 1, and after November 26 all rights to exchange preferred stock for Safeway stock will cease and the pre- ferred stockholders will be entitled only to the redemption price. In connection with the action of the Sanitary Grocery stockholders, an- nouncement is made by Merrell, Lynch & Co. that Safeway Stores, Inc., has made arrangements for the acquisition, through a subsidiary, of the assets and business of Knoblock Bros. Co., which operates a chain of 65 grocery stores in_Baltimore. nounced, it was stated that Edward G. Yonker of this city, president of the Sanitary Grocery Co. would con- tinue in charge of the stores in this territory. Secretary C. J. Gockeler of Washington Stock Exchange has re- proval, notice of same having been the merger is completed the Sanitary preferred stock will be stricken from the local list. Heavy Retail Sales Forecast. Latest reports from the Federal Re- serve Bank at Richmond indicate that business throughout the fifth district, which includes the Washington area, is holding up well. Bank debits reported for last week practically duplicated those of the same period a year ago. November is now expected to show the largest retail sales of the present year, although it will naturally be sur- passed by December. Large stocks are reported on hand in connection with the coming Christmas trade and stores generally are said to be in a strong merchandising position. It is added that favorable weather has enabled sites for large buildings Richmond, Baltimore and Washington to be cleared for new construction and are now predicting a busy Winter. Long Service With Same Bank. years in charge of the paying and re- ceiving department of the Federal- tive of Marshall, Va., and his first posi- Bank. He assumed his duties on No- vember 12, 1906, at the time when Rob- was re-elected assistant cashier. next promotion was assignment to his present position. Local Securities Remain Firm. Stocks and bonds were steady on the local Stock Exchange when the week's business opened today. { Bank warrants, which sold at 320 Saturday, sold at 317 today for full warrants, while one fractional share sold at 315. American Security & Trust was the only other bank stock out, this issue selling at 453. Traction sold at Merchants’ Trans- fer & Storage at 108 and 51 shares Mergenthaler Linotype at 100!>. Wash- at 103, 103} , 103% and 1031,. Colum- at 92 and closed at 913j. A baby gas 6, series A, came out at 1033 Young Bankers Pushing Benefit. Members The committee believes the attrac- tion is one of the best the institute has had in years. There is already a lively demand for tickets. The annual affair is always attended by the city's leading bankers and their friends. This year it was decided to secure a mystery play instead of a musical show. Heard in Financial District. George L. Starkey, president of the National Bank of Washington, has been confined to his home a few days with a severe cold. He expects to return to the bank tomorrow. . Luther A. Swartzell, president of Swartzell, Rheem & Hensey, mortgage bankers, was being showered with con- gratulations today because of his con- nection with the firm just half a century yesterday. 7 Luther E. Schreiner, manager of the Dupont Circle Branch of the Merchants’ Bank & Trust Co., has returned from a business trip to New York. Hardware Exports on Increase. Exports of hardware and allied prod- ucts from the United States for the first nine months of 1928 were valued at $52,- 982,723, an increase of $5,211,053 over the same 1927 period, according to the Department of Commerce. Substantial gains were realized in shipments of hand tools, cutlery, abra- sives, stoves and furnaces. Increases were also noted in exports of builders’ hardware, household utensils, plumbing fixtures and safes and vaults. Ship- ments of lamps and lanterns, chains and scales and balances declined slightly. Dr. Louis C. Cornish, president of the American Unitarian Association, denies the assertion that the church lost 27 per cent of its membership between 1916 and 1926. The Unitarian authori- ties present figures placing the “constituency” at 103936 in 1920 and the membership at 51,156, and the 1926 constituency at 131.240 and member- ship at 63,690. “The trouble comes from confusion between _constituency and membership,” says Dr. Cornish’s statement. “If the old method had been continued we should be showing a 50,000 increase in the decade.” ™. x# Am Drug(80c).. Am Hide & Lea. . Am Hide & L pf. Am Home Pr(3). Am Ice(i2%). .. Am Internatl(2) 1241 Am LaFr&Foam 9 Am Linseed. . Am Locomot(8). Am Loco pf(7). Am Mac&Fy(4 Am Metals(3) AmP&L (11).. « 101% Am Radiator(6). 169% Am Ry Ex(6)... 12315 Am Republig. ... Am Saf Raz.13). Am Seating(3).. Am Ship & Com. Am Smelting(8) Am Snuff(12). Am Stl Fdys(3). ‘When the consolidation was first an-, Am Sugar. Am Sugar pf(7). Am Sumatra (3) Am Tel & Tel(9) Am Tobacco(8). Am Tobac B(8). AmWW&EI(cl). Am Woolen. Am Woolen pf Am Writ Pa ctfs Brockwy Mot (4) Bklyn-Man(4)... BklynUnGas(5). BrownShoe (21 ) Brunswick B(3). Brunswick Ter. . Bruns Term rts. % Bucyrus(1)..... Bucyrus cv(2%) Buff & Susq..... Burroughs(t4).. Bush Term (g2). Butte Cop & Zine Butte & Sup(2). ington Gas was quite active, selling |Callahan Zinc. .. Calumet&Ar (). bia Sand & Gravel preferred opened | Calu & Hecla(4) Can Dry (t43). The bond trading opened with Wash- | Can Pacific(10). ington Railway & Electric General 6s | Canon Mills 2.80. selling at 102 in a $3,000 turnover. The | Case Threshg(6) next sale was in Georgetown Gas 5s, a | Case Thr pt(7).. $4,500 transaction taking place at 1021z, | Cent'Alloy(2). .. Cen Ry NJ(112). and small gas B bonds moved at 105%. | Century Rib M. . Gerro de Pas(5). ‘ertain-Teed (4 n of Washington Chapter, clxandler—clu(,v.). American Institute of Banking, were |Chandler-Cl pf.. hustling today in the interest of the an-y Ches & Ohio(10) nual theater party for the benefit of the |C & O Corpn(3).. organization. “The Silent House,” which | Chi & Alton..... had a nine-month run in New York, is | Chi & Alton pf.. to be the attraction, and will appear |Chi & East 11l pt at Poli's on Monday evening, November | Chi Great West. 19. Chi Gt West pf.., Chi Mil & St P., Chi Mil & StP pt Chi & Nwn(4)... Chi Pne Tool (6 Chi RI&Pac(6). . 136% CRI&Ppf(7). 108 Chickasha(3)... Childs(2.40). . Chile Copper (3). Chrysler(3).... City St B 5% stk 1041 Cluett-Peab (). Coca-Cola($).... 166 Collins & Aikmn. Col Fuel & Iron. Col Gas & EI(5). 131 Col G&E pfA(6), 107 Col Carbon (4) Com Cred(1).... 49 ComInvTr(3.60) 132 Com Solvents(8) 219% 87 Com Power(13). Conde Nast(2).. < Detroit Ed ( THE EVENING STAR, WASHINGTON, D. C., MONDAY, NOVEMBER 12, 1928, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Quotations Delayed Owing to the volume of trading on the New York Stock Exchange today, the tape was swamped, and closing quotations were not available for_this edition of The Star. The closing quotations will found in the 5:30 edition. 38% 39% 38% 111'% 111% 365 359 50 48 63 62% 3% 3n 1% Abitibl Pow (4). Abrahm&Straus 111% Adams Exp(6).. 359 Adv Rumley.... Adv Rumley pf. Ahumada Lead. . Air Redetn (13). Ajax Rubber., Alaska Junea. .. Albany Papr(2). 26% Allied Chem. ... 236 Allis-Chalm (7). 136% Amal Leather,.. 11 Amerada(2).... 39% Am Agricul Chm 19% Am Agri Ch pf. 681 Am Bk Note (2). 140% Am Beet Sugar. Am Bosch...... Am Br Sh(j1.60) Am Brown Bov. . Am Can(2)..... AmCar&Fdy (6). Am Chicle(3)... 140'% 140% 19% 19 35% 347% 43 42% 15 144 115% 113% 952 94% 47% 46 12 11% 300 300 517 51 96% 96 108% 108! 35% 42% 14% 115% 95 47 117%% 300 517 961; 1082 8% 37 ki3 41% Am Express(6). Am & For Pow.. Am&For P 2d 7, Am&ForP pf (7 . 136% 97% 110 17: 9 9 13613 136 100 97% 110 110 172 172 50% 50 14 14 91 90% 101% 101% 172 169% 123% 1 106% 106% 57% 55 1881 1873 173% 1713 175% 172 61% 22% 52% Andes Copr 75c.. Archer-Dan(3). ., Armour Il1(A) Armour 111(B) Arnold Con & Co. Art Metal(1%). AssoDryG(214). Asso D G 15t(6) . Atchison(10). Atchison pf£(5) .. 1 Atl Coast L(110) Atl Gulf & WI. Atl Gult pf(3) Atlantic Ref(n). AtlasPowder (4). Atlas Tack Austin-Nichols. . in | Auto Sales. . Auto Sales pf Autostrap A(3). the building trades in the fifth district | Balto & 0(6).... Balto & O pf(4). Bang & Ar(3% BankofCom(18). Henry H. Shackleford, for several | Barnet Leather. Barker Bros(2). Barnsdall A (2). American National Bank, has been with | Barnsdall B (2). the bank 22 years today. He is a na- | Bayuk Cgrs (2). Beacon Oil. . tion was that of clerk in the transit | Beech-Nut (3) - Belding-Hemwy. lepartment of the American National Best & Co(3). . Bethlehem Steel. ert N. Harper was president of the in- g'o‘::’"‘“,’:f::]",' stitution. Booth Fisheries. Booth Fish 1st. . 107 17% 8% 41Y% 199% 198 104% 104 171% 170 48% 484 118% 117 79 42 41% 6% 76 7 6% 20% 19% 52% 507 74 3% 671 66% 170% 168% 2 4Th 52% 35% 3% 45% 62 173 6714 9 10% 42Y% 157% 153 98% 97 7% 16 31 3 122 119% 46% 45% 80 79 2383 234% 4T% 46% 416 403y 127 127 10T 105% 325 32 20 19% 28 263 4 202 198 4% 72 11% 18% 63% 14% 35% 36% 548 9% 130 1365 1341 108% 108 50 49% 55% 52% 65 64% 1347 128 49% 55% 64% 129% 73% 59 % 977% Com Invst(rts). 8 % T5% Congoleum-Nair 27% Cong Cgrs (16).. Consul Cgrs(7). Con Film pf(2). Consol Gas(5).. ConsolGaspt(5). ConRRCuba pt 6 Consol Textile. . Container A 1.20 Container B 60c. Cont Baking A. Cont Baking B.. Cont Bak pf(8). Cont Can(5).... 118% Cont Insur(6) 87 Cont Mont(80c). Corn Pro(13%). 89% Coty Inc (8).... 310 Crucible Sti(5).. 81% CubaCaneSugar. 5 Cuba Cane Supt 16 Cuba Company.. 23% Cuban Am S(1). 17 Cudahy Pkg(4). 69 Curtiss Aero(1). 140% Cutir-Ham(3%) 60 Cuyamel Fruit.. 58% Davison Chem.. 61% Del & Hud(9)... 197% 198% Del L & W(17).. 134 134% Den RG Wnpf.. 59 60% Detroit Ed(8) 200 200% 16% 16% 16% 17% 4 Devoe A (13.20). Dodge Bros A... Dome Mines(1). Drug Inc(4). Dul SS & Atl Dunhill Int(4).. Dupont(113.50) . Du Pont deb(6). Eastman (18) Eaton Axle(2 Eisenlohr&Bro Elec Auto L(4) Electric Boat ElecPow&Lt ( Elec P&Lt pf(7) Elec Stor Bat(5) Elk Horn End-John Endicott pf(7) Eng Pub Ser(1). Equit Bldg(2).. Erie R R. . Erie 1st pf. Erie 2d pf Eureka V (1% Fairbanks Co Fairbanks(3) Fed MotT (f80c). Fidelity-Phoenx. First NatS(1%). Fisk Rubber. Fisk Rub 1st pf. Fisk R 1st pfev. Fleischmann(3). Florsheim (A).. Foundation Co. . Fox Film A(4).. Freeport (1633). Gabriel Snub A.. 21 Gardner Motor. . ien Am Tnk(4). Gen Asphalt. ... Gen Cable...... Gen Cable A(4). Gen Cable pf(7). jGenClganatl) s Gen Elec(15)... GenElec sp(60c) Gen GasA (o13:) Gen Ice Crm(3). Gen Motors 1914 Gen Mot (New). Gen Mot pf(7).. GenOutdrAd(2). Gen Ry Sig(5). Gen Refrac(s Gillette S R(c5). imbel Bros. Gimbl Br pf(7) Glidden Co...... Gold Dust (5). Goodrich(4). Goodyear Tir Goodyer (rts).. Goodyr 1st pf(7) Gotham ($23%). . Gothamn v $23 Graham-Paige. . Granby-Min(4). Grand F&W (1). Grand Unon. ... Grand Un pf(3). Grant W T (1).. Grasselli (2.68). Grt North pf(5). Gt Nor pf cfs(5) Grt Nor O(1%) Grt Wn Sug 2.80. Greene Cana(4). Guantanamo Su. Gulf Mo & Nor... Guif Stat Sti(4). Hartmn B(1.20). Havana EI Ry. Hershey pf(4). Hershey pr pf (6) Hollnd Furnace. Homestake({7). Houston Oil..... Howe Sound (4). Hud Man(21%).. Hud Man pf(5).. Hudson Mot(5). Hupp Mot (£2)... Tilinois Cen(7). 111 Cent pf(6) Ind Oil (1%). Indian Mot(1%). Indian Refining. 97 222% 90% i 1247 4 142% 141 35% 142% 141 35 26% i@ 35% 180% 321, 140% Inland S(k16%). Inspiration Cop. InterboroRapTr. InterconRubber. Internat Agri... Int Ag Ch pf(7). Int Bus Ma(5).. Int Cement(4)... Int Com Engi2). Int Comb pf(7) Int Harv(j6) Int Mtch pt Int Mer Marine.. Int Mer Mar pf.. Int Nickel (3)... Int Paper(2.40), Int Paper pf(6). IntPap cfs(2.40) Int Ry Cent Am. Int Tel & Tel(6). Interstate D S.. Intr Dep S pf7.. Island Creek(4). Jewel Tea (15).. Johns-Manv(3).. Jordan Motor. ... Kan City South.. Kaufmn DS 1%. Kayser J(5). Keith-Albee. Keith-Al pf(7) Kelly-Spring.... Kelly Tire 6% pf. Kels Hayes(2).. Kelvinator Corp. Kennecott(6)... Kinney (G R)... Kolster Radio. Kraft(g1%). Kresge(f1.60)., Kresge Dept S. . Kress SH(h133). Kreuger & Toll.. Kroger Gro(cl). Lago Oil. . Lambert (16%). Lee Tire & Rub. . Leh Por Cmt 2% LehighVal(33). Lehn & Fink(3).. Life Sav(1.60). Lig Myers(5) Lig & Myrs B 15. Lima Locomtve. Liq Carb (t4%). 174% 165% 13% 3% 128% 35 130% 1% (A). Loose-W(1.60) Lorillard Co. Ludlum Sti(2).. McCrory B(2)... 84% 118% 18 Mclntyre P(1).. ~20% McKeespt Tin P1 68 Mack Truck(6).. 102% Macy Co (2).... 180% Mad Sq Gar(2).. 221 Magma Cop(3).. 64 Mallison & Co. Manati Sugar pf, Man Elec Suply. Man El m2g(d5) % | Man Shirt(2) Maracaibo Oil. Marlan Oil. . Marlin-R(13%). Martin-Parry . Mathieson (6). May Dept S(4) Mayatg (1%). Maytag pf(3). Maytag 1st pf(6} Melville Shoe(1) Mengel Co. fexican Seab. Miami Cop(1). Mid-Continent Middle States. .., Mid States ctfs. . Midland pf(t12). Miller Rubber-... Minn & St Louis. Mo Kan & Tex. .. Mo K&Tex pf(7) Missour! Pacific. Missour! Pac p: Mohwk Car 2% Montgmry W Moon Motor. Motor Meter Motor Whi(t214) Mullins Mfg. Munsingwr(3) Murray Corp.... 117 ash Motrs(16). 92% at Acme(sta)., 224 22% Nat Bellas Hess. 154% 154% Nagl Biscuit(17), 169% 169% 168% t Cash R A(3) at Dairy(3)... at Dept Stores. Nat Lead(5).... at Pow&Lt(1) Vat Ry Mex 2d.. at Supply (16). N Y Alr Br(3) Y Central(8 Y C& StL(6). Lpf(6). I Doclk::...- NH & H (2). NY NH&H pf(7) N Y Ont&Westn. ¥ e Rys pf Norfolk South. . Norf & Wn(110) NorAm b10% stk orth Am pf(3). NorAm Ed pf(7) North Pac(5). .. Nor Pac cfs(5).. Norwalk Tire... Omnibus. . Omnibus p .. OppmCollins(£4) Otis Elev(17).., Otls Steel. . Owens Bot(ct4). Pacific Gas(2).. Pac Lightg (3). Pac Oil Stubs. .. Packard M 151, Pan-Am Petrolm Pan-Amer Pet B. Pan-Am Wn B. . Panhandle. . Paramount-Fam Park & Til(13).. Park Utah(80c) Pathe Ex. Patino M( Penn C&: Sel Penn Dixie Cmt. Penn RR(3%;).. People’s G Peoria & Eas Pere Marq(18).., Phila Co pf(3).. Phila&RC&I. Phil Morris(1).. PhillipsPet(113) Pierce-Arrow. .. Pierce-Arrow pf Pierce Oil....... Pierce Oil pf.... Plerce Petrolm. . Pillsbury (12.10) Pillsbry pf(63). Pitts Coal...... Pitts Term Coal. Pitts&WVa(6).. PortoRicoTobA . PortoRicoTobB. Postal T&C pf 7 Postum(3). Pressed St Car. Pr Stl Car pf(7). Produ & Refinrs. Pub Serv NJ(2). Pullman Co(4).. Punta Aleg Sug.. Pure Oil (1).... Purity Bak(3)... Radio Corp..... RadioCo pf(3%) ReadingRy (4).. Reading 1st(2). Real Silk Hos. .. Reis(R)& Co. ... Remingtn-Raud., Rem-Rd 15t(7).. Reo Mot (11%) Repl&S(4).... Reynolds Spngs. ReynldsTobB(5) RhineWstphalia Richfield Oil(2). Rossia Ins(5)... Royal D(a3.222). Rutland pf...... St Jos Leaa(13). StL & SanF'(8) ., StL&SanF pf(6) StL&Southwest, StL Swn pf(5). . Savage Arms(2) Schulte (§3%).. Seab Air L pf... Seagrave(el.20). Sears-Roe¢$2%;) Seneca Copper. . Shattuck FG(2). Shell Un(1.40).. Shubert The(5). Simmons Co(3). Simms Pete. Sinclair Oil. ... Skelly Oi1(2).... Snider Packg Co. Snider Pkg pt... So Po Sug(f21) South Calif Ed. . South Dairies A South Dairies B. South Pac(6)... South Ry(8).... Spang Chalfnt. Spicer Mfg..... Spiegel Co (3).. Std Com To(f1). StAG&E (3%). Std G&E pt(4). Std Milling(5).. Std Oil Cal(234) StdOIINJI (t1%). StdOiINY(1.60). Std Plate Glass. . StdSanPro(1.68) Stanley Co...... Stewart-War(6) Strom Car(2)... Studebaker(5).. Submarine Boat. Sun Oil (m1), Superior Oil.... Superior Steel. .. Sweets of Amer. Symington. ..... Symington Cl1A.. Telautogh(80c). Tenn Copper(1). Texas Corpn(3). TexasGulfSul(4) Texas & Pac(5). ' Tex Pac C & Oil. Tex Ld Tr(new, Thatcher Mfg, The Fair(2.40 Third Avenue... Thomp J R(3.60) Tidewater AsOil TidWASOIIpf(6) TidewatrO(80c) Timken(15).... Tobac Prod (8).. 101 116! 1821 181 109 18 68% 112% 76% 180 25% 24% 23 40% 33% 5914 22% 885 35 149 108 Tobac Prod A(7) 117'% Tob Prod cfs(C). Transcont Oil Trico Prod(2%). Truscon Steel. .. Twin City RaTr. Undwd-EIF (4). Un Bag & Paper. Union Carb(6) Un Ol Cal(2) 20% 12% 40% 567 38 80% 541 Union Pac(10).. 223% Un Pdicific pf(4). Union Tank(5).. Utd Biscuit 1.60. Utd Cigar St(1). Utd Elec Coal. .. Utd Fruit(t5%). U S Cast Ir Pipe US CIP 2d 1.20. . U S Distributing 83% 115% U S Hoffman(4). 1 U S Steel(7).... U S Steel p£(7).. Uni Leat Tob(3) Univ Pipe & Rad Util P&L A(e2). Vanadium (t4).. Van Raalte. Vick Chem(4) Victor Talkg(4). Vietor pr p£(7).. Va-Caro Chem. . Vir-CarCh pf(6) Va-Car Ch pf(7). Va Iron Coal&C. Vivaudou Co. Wabash........ Wabash pf A(5). Waldorf(1%)... Walworth(1.20). Ward Baking B., Ward Bak pf(7). Warner Bros Pic Warner Pic A. .. Warner-Qu(2). Warren Bros(4' -Warren F&Pipe., e 24 4l% 111% 39, 73 128% 106% 187% 125 42% 1531 32 101 116% 29 374% 62' b4Th 122% 424 A 8 124 1241 42% 41% 153 32% 8% 83% 126% 126 41% 14 15315 1531 UK 1% | for 770,500 shares. STOCKS AGAIN RISE | INHEAVY TRADING Great Activity Attends Ses- sion—Buying Orders Boost Issues. BY GEORGE T. HUGHES. Epecial Dispatch to The Star. NEW YORK, November 12.—In a session replete with sensational features individual stocks were bid up to dizzy heights in today's market. Radio was the leader, soaring nearly 25 points and | selling at the highest in the last 10 minutes of trading. International Nickel was a close second only slightly under 200 and also at the highest for all time. The ticker dropped 70 minutes be- hind the market in the early afternoon and as the close approached it had made up only three or four minutes of this loss. The turnover at that hour prom- ised to break all records. The market encountered a flood of realizing, but for the most part it was absorbed with little impression on prict At the close there were many declines, but all the large changes were on the side of advance. Among the strong stocks were Allied Chemical, Packard Motor, Westinghouse Electric, Sinclair and Sears-Roebuck. Every one of these stocks made new high records at one time or another during the proceedings. Seldom, if ever, has there been such a huge turnover as was witnessed in the first hour today. In the initial 15} minutes transactions totalled 502,000 shares. The first half-hour acounted For the full hour the sum was 1,239.500 shares. All the active stocks came out at the opening in huge blocks. For instance, New York Central opened up 2 points on a 10,000-share transaction. Ameri- can Can was up over 2 points on a 10,000-share block. The first sale of Radio was one of 5,000 shares. Radio Is Feature. Radio was the feature, starting in at 270, the previous high record for all time, and then adding 6 points in the early trading. All sorts of fantastic predictions as to the future of Radio were made by its excited followers. American Can was another early favor- ite, the opening price setting a new high record. Montgomery Ward was practically unchanged at the opening, but reacted below the 400 mark later on. Renewed attention was paid to the copper stocks. Kennecott made a rec- ord top for all time on the first sale, which was of 14,000 shares at 141. A little later American Smelting & Re- fining was b up to 280, the highest price in the history of that company. ‘This, however, is not so extravagant measured by present stock market standards, if current productions in earnings are realized at the end of the year. Anaconda, Calumet and Arizona, Tennessee Copper and Chemical and Greene Cananea, were all up while International Nickel pushed ahead vig- orously. Rails Advance. A long list of railroad stocks shared in the upward movement. Union Pacific, above 224, made a new higin record for all time and Canadian Pacific at 237, was at a new high for many years. Atchison sold only frac- tionally below its extreme high of 200, made a year ago. Nickel Plate, Norfolk & Western, Great Northern preferred and Northern Pacific were other strong carrier shares. In the lower-priced group Missouri-Kansas-Texas was the leader. Money renewed at 6!2 per cent and was in supply at that figure. Time money was unchanged and so was Com- mercial Paper. The tape ran thrce- quarters of an hour behind. Wall Street Briefs Grain purchases by the Soviet Union state and _ co-operative marketing agencies in October showed a large in- crease, cable reports to the Armtorg Trading Corporation in New York. dis- close. Purchases totaled 1,778,000 metric tons against 1440,400 metric tons in September and 1,000,400 in Oc- tober, 1927. Cotton ocean freight rates to Bremen and Italian ports have been increased 5 cents per 100 pounds, effective Jan- uary 1, and continuing through June. Under the new scale the rate to Havre, Bremen, Hamburg and Bordeaux will be 50 cents per 100 pounds on second- class steamers, and to Itlaian ports 55 cents. In first-class steamers the rate is 2 cents higher. ‘The Ruhr Gas Corporation of Ger- many, which recently floated a $12,- 000,000 loan in America, is reported completing negotiations to supply the cities of Cologne, Duesseldorf, Duisburg and Hess with coke oven gas. The com- pany is now supplying fuel to the Duis- burg works of the United States Steel Corporation and to several glass fac- tories, tar by-products and tube plants. Underwood Elliott Fisher Co. of New York has liquidated $500,000 notes and is now entirely without bank loans. The company started the year with $3,620,- 000 bank loans and assumed $125,000 additional with the purchase of the Underwood Computing Machine Co. Grand Rapids Metalcraft Corporation of Grand Rapids, Mich., maker of auto- mobile cowl panels and metal instru- ment board, reports production on orders from Ford, Chevrolet, Pontiac, Studebaker, Packard, Cadillac, Reo, Nash, Hupmobile, Marmon and Chand- ler. In the past 12 months 500,000 panels were sold to Fisher Body. The plan for the formation of the Radio-Keith-Orpheum Corporation has been declared operative upon announce- ment that more than 51 per cent of the stock of the Keith-Albee-Orpheum Cor- poration has been deposited under the plan, which gives the Radio Corporation of America substantial representation in the management of the new concern. Wall Street statisticians figure listing of General Motors new stock on the New York Stock Exchange will cost the corporation $365,400, a record fee for any listing. West DairyA (4) oSS o West Maryland. 4% West Md 2d pf.. 447 444 West Pacific.... #2% 32% West Pacific pf.. 58% 59 West Union(8).. 200 196 Westhse AB(2). 4! 5 Westinghse(4). . 11 Weston Electric. 2 Weston A(2) White Eagle(2 ‘White Mot(1) WhitRek cfs(2) . ‘White Sew Mach Wilcox Oil & G.. Willys Ov(1.20). Wilson & Co.... Wil mCoptA., 23 Wiison &Co pf.. 66% Woolworth(5)., 218% Worthn Pump... 39'2 Worth Pump(A) 60 Worth Pump(B) 51 $rlght Aero(2). 202 Wrigley(15%2).. 7% Yellow Truck... 364 Youngstn Sh(5). 957 Hourly Sales on 11a.m.. 1,123,300 m...1,946,800 1pm.. 2734700 2 p.m. 3,498,500 in the above table cash payients based on. the 58 45 % 122 25 33% 206% T 37 98 200 7 36 36 95% 9% Market. h Partly stock. Blus 1/120° 20 ble 1710 o e nuulul{ in Unitea Slear o o % 10 stocks 3 ehare ‘auarter common stock. B FINANCIAL. We Will Buy or Sell Guaranteed First Mortgage Real Estate Bonds Realty Investment & Securities Corp. 807 15th St. PHONE MAIN 864—MAIN 865 WRIGHT, SLADE & CO. Members New York Stock Exchange Chicago Board of Trade Stocks and Bonds Bought and Sold for Cash or CARRIED ON MARGIN The Mayflower Hotel Connecticut Ave. at De Sales St. Telephone Decatur 370 Resident Partner Offices New York Warrenton, Va. Paris, France Ladies Room Reserved—Complete Trading Facilities Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing M Benefit Life Ins. Co. 1520 K Str Main 475 APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the Disitict of Columbia and adjacent suburbs in Montgomery and Prince Georges Counties, Md. 5% INTEREST Apply to H. L. RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY OF AMERICA 1001 15th St. N.W. E UNLIMITED Funds for LOANS On Improved Real Estate In Nearby Maryland. Virginia and the District of Columbia For Periods of 3,5 or 10 Years Low Interest Rates and Charges BOSSEFHELPS Founded 1907 1417 K St. Main 9300 Loan Correspondent John Hancock Mutual Life Insurance Co. Equitable Co-Operative Building Ass'n WALTER S. PRATT, Jr., Secretary Organized 1879 48th YEAR COMPLETED . $5449,°4449 Surplus &- Profits -$1,578,070.05 Subscription for the 95th Issue of Stock Being Received Save Systematically in the Equitable No matter what you are saving for ... home, old age, your chil- dren’s education . . . you'll find the Egq table’s systematic sav- ings plan a great help. Start NOW and watch it grow. 915 F Street LTI JOHN JOY EDSON, President Your savings will ac- cumulate more rapidly if deposited in the Equi- table’s systematic plan of savings. Come in and let us explain about the plan. Falling Leaves The old saying, “All wealth comes from the soil,” is made more evident to us at this time of the year as we watch November winds sweep the last of summer leaves back to the earth from which they came. Also it brings home to us the reason for the solidity and safety of the First Mortgage Investments issued by Swartzell, Rheem & Hensey Co. For these notes have, as their se- curity, the very soil underlying the Nation’s Capital, which, from year to year, steadily increases in value as the population of Washington in- creases. And as this value grows, the margin of safety behind these notes likewise widens. You may share in this innate se- curity of your Capital city, for these notes are always available in as small denominations as $100 and, at present, they pay interest at 6%. SWARTZELL, RHEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET N.w./ WASHINGTON D.C.