Evening Star Newspaper, November 12, 1928, Page 11

FINANCIAEL. THE EVE CONVERTIBLE BOND | [Coxew ~on_BONDS sroex sscnanr] Received by Private Wire Direct to The Star Office UNITED STATES, PRICES SHOW DROP Profit-Taking in Stock Mar- ket Has Effect on Sev- eral Issues. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, November 12.—The dis- position to take profits today in groups of stocks that have had extensive ad- vances recently produced considerable irregularity in those bonds that are convertible into stocks, with a period of reaction following a strong opening. As an illustration Liquid Carbonic 6s, which rose nearly 20 points last week, made a further gain of 4 points this morning. Nearly all of the oil convertibles were heavy, although the losses in them were moderate. The metal issues held up better than the others, with Anaconda Copper 7s gaining 3 points and Andes Copper s a point and rather dull around 170. Tennessee Copper 615 were up 2! points. Brooklyn Union Gas 5'4s rose 6 points on one transaction. Nearly all of the Cuban Sugar Produc- ing Co. bonds showed evidence of liquidation and the financing strain under which these concerns are operat- ing. In five issues in this group, on which the coupons range from 7 to 8 per cent, there has been an average de- cline from the high of the year of 15 points. Lorillard 5s were off 1!4 points to a new low price and below 85, compared with a high this year above 98. Inter- national Paper 5s recovered a point of the 71, point decline recently made. (Sales are in $1.000.) Lib3%s.... Lib 4th 43%s 12 US3%n43. 40 US33s47. 102 US3ks . 25 110424 104 24 US4s 1944, 466 10721 107 19 US4xs52. 401 11228 11221 FOREIGN. Sales. High. Low. Close. Argentine 6s Ju 63, 11 Argentine 6s Oct 59 14 Argentine 138 62 Argentine 63 5 Argentine 65 B. Australia 4135 56 Australia 55 195, Australia 55 1957 Austria 7s..... Bank of Chile 614s. Belgium 6. Belgium 73 1955, Belgium 75 195 Belgium 7% Belgium 8s. Bolivia 8s Bordeaux 6s. Brazil 615519 Brazil 7s. Brazil 8s. Chinese Gov Ry 5s. Colombia 68 .J. Copenhagen 4 Copenhagen 5s ct, Czecho 85 1952. Danish Munic 85 A Danish Munic 8s B. Denmark 6s. . DEI5%s Mch 53, Dutch East 1 65 47.. Certainteed Products 5';s were again below 90. International Cement 5s and Pressed Steel Car 5s had substan- tial gains and Public Service of New Jersey 41,5 were up 3'; points on a few transactions. The strictly investment issues were quiet, with not quite so much demand for them in view of the slightly higher money rates. There were, however, some strong sections in this department of the market and _strikingly so in short term issues. Canadian National 4'2s due in 1930, which sold on a 5!z per cent basis during the Summer, were quoted today above par. In the second- ary rails advances of 34 to 115 points occurred in Chicago and Eastern Tllinois 5s, Chicago Great Western 4s and Denver & Rio Grande Western 5s. The Armistice day speech of Presi- dent CooMdge could not have brought much encouragement to bankers who have been considering further European loans. It very pointedly emphasized the difference in the earning power of money at home at the present time and on loans made for foreign account. The foreign issues were quiet and slightly changed. The decision of the New York City authorities to limit their bor- rowings this month to $55,000,000 i stead of carrying out the original plan to sell $107,000,000 had a sentimentally | good effect on the market for tax ex- empt issues. Washington Stock Exchange SALES. Washington Rwy. & Elec. gen. 6s— $1,000 at 102, $2,000 at 102. c;m;a‘/l Traction Co.—10 at 106%, 5 at 106Y. Potomac Elec. 6% pfd—15 at 114, 5 at 114. Riggs National Bank warrants—70-265 at 315. American Security & Trust Co—5 at 453, 5 at 453. Columbia Sand & Gravel pfd—15 at 92, 10 at 92. Mmu' ‘Transfer & Storage pfd.—5 st Mefxenfi‘x:le‘? Linotype—50 at 100%, 10 t . at 100 AFTER CALL. n Gas Light—11 at 103, 10 ‘Washingtol -$100 ‘Washington Gas Light—10 at 1033, 10 at 103 Riggs National Bank 317, 5 at 317, 9 at 317. ‘Washingotn Gas 6s “B"—100at 105%, $200 at 105%;. Columbja Sand ¥ Gravel pfd—10 at 9175, 10 at 91%, 5 at 91%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. warrants—4 at Amer. Tel. & Tels ‘Amer. Tel. & Telg: Am. Tel. & Tel. ctl. tr. Anacostia & Pot. R. R. 5t Ana. & Pot. guar. 5s.. & P. Teiephone 5 & P Tel of Ve, 880 Georgetown Gas Potomac Electric 1st §g.. Barbery , Inc.. 643 BV nderbut 813 Chestnut Farms Dairy 6! Chevy 512 D. C. PADEX-MIE. 65. . ... .. 9! Joint, Stock Land Bank bs. 100 h. MKt Cold Storage 5s. 96 Wash. Col le Co. Wardman Park Hotel 5 STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga. ’ Capital Traction Co Wastington ~Gas Norfolk & Wa. Potomac Elec Potomac Elec, 513% Wash, Rwy. & Elec. ¢ Wesh, Rwy, & Elec. ptd NATIONAL BANK. TRUST COMPANY, . & Trust FoHT - v Merchants’ 5 sV, v. & Commercial. .. Seventh_ SUreet............. United States Washington Mechanics | . FIRE INSURANCE. American Columbia Title.. ... Real Estate. . Title & Inv. Co. of Wash. Cons. Title ML Barber & Ross, Chevy Chase I Md. com o v’ b Farms Dairy com Faims Daury pld & vel 5 ol Sant 1 pld Commercial Nall Co. pfd D Dist Woodward & L SILVER QUOTATIONS. NEW YORK. November 12 (1 silver, 58'4; Mexican dollars, 44',. United States has Army colieges. Dutch East I 6s 62.. Finland 512 Finland 7s..... Framerican 7% French 7s. French 78, German EI P 613 German 7s Ger Am Bank Irish Free State 6 Italy 7s... Italian Pu Japanese 4 Japanese 61;s. Mexico 45 04 asntd. Mexico 4510 asnt. Mexico 5s asntd Milan 6 Netherlands 6s 72 New So Wales 58s. . Nord 6 Norway 6138 1952, Orient Dev deb 6s Paris-Ly-Med 7 Peru 6867 wi..... Peru7is. Poland 68 40 Poland 7s (rcts). Poland 8$s. Porto Alegre §s Prague 73 Q Queensland 7s Rhinelbe Un 7 52 3 RhineWst EP 65’53 *17 Rio de Janeiro 634s. 1 Rio de Jan 85 1946. . Rome 6%s.. San Paulo City 8s Sao Paulo 8 1936, Sao Paulo 1950..... Saxon (PW) i Seine 78 42, Swiss 51581946 Swiss Confed 8s, ;| Toho K1 Pow 78 Tokio bs Utd Kingm 5145 29, Utd Kingm 51%s37. 13 Uruguay 8s.... 1 Yokohama 6swi... 1 100 100 96 1004 8813 96" 9612 102% R 101 1061 108 106 11513 110 105% 967 109°% 110% 11015 10415 102% 104 103% 91y 100 10515 1071 114% 10215 1054 110% 991, T8% 90y 1181 104% 108 95% Close 99 10 1012 99 12 9917 99 103% 91 100 105% 107 114% MISCELLANEOUS. AmAgriChem 7%s. - 2 AhSmit&R1st5s. 6 Am Sugar Ref 6s. all 651340, . 124 Pa 3 1 1 1 Chile Copper s Colon Oil 65’38 onGasN Y 5%s.. Consumers Pow 5. ba Cane 8s. . Cuban Am Sug 8s.. Denver Gas 5. DetroitEdison5 st Detroit Edison s Dodge 6s. o Fast Cuba Sug 7% Fisk Rubber 8s Gen Asphalt 6s 36 Gen Mot Ac Cor 6; Goodrich 633s. Goodyear 5s rets. Humble Oil §s..... Humble O & R 5%4s. mk 48 7 1n 5 1 rPaper 6: Int Tel&Tele; Kayser J & Co Kelly-Spring 8s. Laclede 5. Ligget&Myersss Liggett & Myers Lorillard ss. Lorillard (P) Louisv G & K ManatiSug st 7'3s. 6 Mid-Con 6135 40.... & Midvale Steel 5s... 1 Mor's&Co 1st 4 1 10 1 \ 17 el 6549 % Nor States Pow ts. 1 PacT & T 15t PacT&T58352.... Pan-Amer Pete fs. Paramount 6s 1947 Pathe Exchange Phila Co 5 Phila&t Philips 17 Stand OIINJ s ds. 1 104% 101'% 15! 106% 1094, 101 100% 1027% 107% 93% 1001 102 104% 100% 103% 991 104% 106 1077 991 87 105% 156 169 10614 109% 101 1008 103 104% 8bs 106y 104% TAk 1031 108 104 108 103% % s 109 102'5 1015 931y 1000, 102 9414 1038 991 116 110 101 2% 1023, 104 94 105, 1001, 871, 1041, 108 115 95 10174 1074 1101, 10105 103 1211, 841, 10415 1037 91 105 1001, Bty 101% 107 1101 1010, 1041, 103 104 24 107 19 11226 1001 Sales. Hi Tenn Copper 6s°41. TennElecPow 6s 47. Transcontl 011 61,5103 United Drug 58 53 U S Rub 1st rf 58, U SRub 7s U S Steel s £ Utah Pow & L Vertientes Sug 7s. 5: Wilson & Co 1st 6s WinRepeatAr 71;s. Yngstn S&T 5s wi. 80 101% RAILROAD. Ann Arbor 4s 3w Atchison adj 4 Atchison zen 4s Atlantic C L 1st 4s Atlantic CL 4145 64 Atl & Dan 1st 4s 43, Atl & Dan 2d 4s 48., Brooklyn Elec 61;s. Brooklyn Elev §1zs. Bklyn Mannat 6s. Can Nat 4155 30 Can Nat 41,5 5 Car Clinch&O 6s 52 Central Pacific 4s. . Chesa Corp 58 w i.. “hes & O gn 434s... 1 Chi NW Chi & N Ry i |Chi RI& P it ds. 9% Hud & Man ref 5 Chi T H inc 6s 60. ChiUn Sta 4%s Chi Union Sta C& W15%s62 CCC&StLrf6sA. Clev Term 515 Colo & Sou 4155 Cuba Nor 5 Del & Hud 1st rf 4s. Del & Hud 7% 30 Den & Rio G cn D 94 102% 92 . e S T NemeZs e e Great North 5s. Great North 5148, Great Nor gen 7s. .. Green B & W deb B. Hud & Man aj 5s 11l Cent ref 4s. 111 Cent 4s 52, Il Cent 4% 66... I11-C-C-StL&NO 58, Int Rapid Tran 5s Int Rap Tr 5s stpd.. Int Rap Trans 7s... Int&GtNor adj 6s 52 InLRys CA 58 72... Int Ry CA 6lzsret. Towa Cent 1st 5s..., Kan City Ft S 4s... Kansas City 8 3s... Kan City Term 4s Lake Shore 45 31... Louis & Nash 5%s. Man Ry 1st 45 90... Mil El Ry & L 58 51. M St P&SSM cn 4s. M StP & SSM 61%s MK&T4sB. MK&Tadj5s..... 11 MEK&TprinisA. 8 Mo Pacific gen 4s., 152 Mo Pac 5s ' 77. 8 3 2 0 1 4 66 3 7 4 5 3 5 6 3 3 0 1 2 4 2 106% 69 103 893 101 87 1051 102% " | Nassau Bl 4551, NOTex4& M5sB NOT&M 5% NYCengen3lg N Y Cent 4542 N Y Cent 45 NYCentrf NYChI&StL 5% New Haven 45 55... NYNH&H43s NY NH&H cv db 65, NYOntWist4s... Y State Ry 4% NYStateRy 6735 62. SNY W& B4ks. . 1071, 1008, T8z 106 104! T4 1034 101 104 Y8 103% 90% 1143 oo 1 10° 1031 a0 97 116 110 101% 1023 12118 B 105 104 91 105 1001 87 1041, 108 Sl 10174 1071 101, 101 | & 1023, 1058 1078, 95 10415 103 Norfolk & W cn 4s.. 65, Ore Short L rfs 4s. Penna Pennsyl gen Pennsyl 5 6 Pennsyl 612s. Pennsyl gold Ts 1024 87 110% 1002 99%, 931, 910y Reading J C 4 Rio G W 1st 4 Rio G West ¢l 4s. RIArk & L 4%s. tLIM&S 4 A 100t i v StL&SFpl 4 100, SUL&S Fr 4 TexArk S 103, T & I'a Third Ave adj 5 Union Union Whash 4 Virginia Wabash 1061, 1011 1047 1061, 1010 1047, 831, 10015 9974 Maryla Western Md Western Pacific ; GERMAN BONDS AND STOCKS. Special Dispatch to The Star NEW YORK, November 12— Bid. i?fi:?‘:‘i‘. Red Joan YR A g00 W ut cts R ©36.00 40.00 ‘Qoliars illion marks ) 20 30.0 4100 997, (Quoted in"doilars Ger Qe LS 415 pr Gen Elec 41,5 1919 Berlin 45 pre-war bre-var 1as. pre-war. il 145 pre-war. ; Munich 45 Dre-war...oo ol (50 (Guoted" i doilars ver ‘share ) AEG (Ger Ge Elec) 4300 AE er Ge Elec) pfd B 2 and Privat Bank I e | Disconto Gellsciart.” Beliner Handels. .. Dresdner Bank. .. Deutsche Bank . Darmstacdter Bank Heyden Chem . Mercur Bank Vienna North German_ Ligyd: {Austrian A E G (Gen Elec) Rudoloh Karstadt - Manganese Mines Reopen. ctal D LURAY, Va,, Novemb ler of Washington, owner of tanloy Manganese mines of this county, nine miles souh of Luray. hz |mmminced the reopening of the mines th more than $300,000 to be used in development. Fhese mincs in opera- tion during the War were abandoned several years ago Laen o TR 12.—Paul' M. o Asked. | 60.00 | STOCK PRICE INDEX CONTINUES 0 RIGE Daily Trading Value of In- dustrial Common Stocks Shows Decline. Special Dispatch to The Star. NEW HAVEN, Conn., November 12.— Prices on the New York Stock Exchange continued to rise last week, registering a 1 per cent average increase over the previous week’s prices. The upward movement in stores, oils, coppers and, to a lesser degree, auto accessories, mo- tors and steels overshadowed a fall in the price of food securities. A higher copper price index was due to rises in International Nickel, Federal Mining & Smelting and Ken- necott Copper, while the higher oils index reflected Amerada Corporation, Barnsdall A and Sinclair Consolidated as special features, tations were led by Woolworth, Nation- al Tea and Kress Co. ‘The foods index fell off slightly, due falls in United Fruit, Ward Baking | J: " and Purity Baking quotations. First grade industrial common stocks registered a 112 point rise. The second grade offerings rose 1 point, while the most speculative issues appreciated 2 index points. The industrials register- ed at 169.6, 154.2 and 155.3, respectively. ‘The price index of the 50 stocks most actively traded on the exchange showed an increase of 2 per cent over the previous week's index. A compact survey of Stock Exchange movements is given below by indexes and per cent of return: Stocks Stocks heid. return. Weed ending— 9 et EgasEsesns Dechera bbb i SR AR e AR D! e SR S5Es 164, A '28) (Noy.' Low '26, '21, 28) 35 (No; '28) Daily Trading Value. ‘The daily trading value of industrial common stocks on the New York Stock Exchange fell off last week to $281,300,~ 000 from $282,900,000 the week before. Trading in all shares, however, rose to a daily value of $319.300,000 from $314,200,000 for the previous week. ‘These falls were brought about by less trading in steels, auto accessories and motors, in spite of an increased daily activity in oils, public utilities, stores, foods and coppers. The diminished steels turnover of $12,900,000 as compared with $15,700.- 000 for the previous week was due to Republic Steel, United States Steel and Ludlum trading declines. Less activity in auto accessories was reflected by fewer Briggs, Murray Corporation, and Electric Auto Lite shares changing hands, while Chrysler, General Motors and Hudson activity declines eased off the motors trading value. Standard_Oil of New Jersey, Pan American, Petroleum B and Richfield Oil trading gains pushed ‘up the oils activity value to $45,400,000 a day from $26,400,000 the week before. Increased stores activity was due to a larger Montgomery Ward, First National Stores and Woolworth turnover, while National Biscuit, Kroger Grocery and Jewel Tea featured the higher foods trading value. = (Copyright, 1928, by Irving Pisher.) BALTIMORE GRAIN EXPORTS. BALTIMORE, November 12 (Spe- cial).—Grain exports through the port of Baltimore, while advancing in Oc- tober, failed to bring the 1928 10-month total up to the comparative 1927 period. Shipments last month reached 2,037- 183 bushels, compared with 1415561 bushels in September and 1,389,788 bushels in October, 1927. For 10 months 1928 has produced exports of 17,529,830 bushels of grain from Baltimore, com- pared with 21,175,352 bushels during the corresponding period of last year. Exports of flour last month were 17,- 993 barrels, against 7,182 barrels in Sep- tember and 45,552 barrels in October, 1927. This trade has fallen off, how- ever, the 10 months of 1928 total showing only 100,903 barrels, compar- ed with 405490 barrels in 10 months of 1927, e st PLAN DIVIDEND ACTION. BALTIMORE, November 12 (Spe- clal).—Directors of the Eastern Rolling Mill Co. will act on the dividend on the stock for the final quarter of 1928 on Decembem 4. Belief in the financial district is that the board will declare an extra dividend of 50 cents and the regular quarterly dividend of 37! cents a share. The company is rounding out one of its most profitable years. Estimates are that surplus earnings will cover divi- dend requirements, regular and extra, at least two times. The company's plant_continues to operate at capacity and it is likely that this schedule will be maintained until the close of the year at leas Ford Production. NEW YORK, November 12 (#).—Dur- ing the first week in November model A Ford and model AA trucks were produced at the rates of 6,000 a,day, about 500 more a day than were turned out in September. October turned out 106,404 cars and trucks. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Bid. Offer. .. 100 Amer Anacondi & Sou ia Gas & Elec Cudahy Packing Co. 5 El. 11 Boston 41.: Corp. en. Mot. Accep. Corp. 6s 1937 eneral Pet Corp. 940 Rwy. 4% Line 45 192 p."51.8 991, 10015 Wheeling 1948, 101 © 101% TREASURY CERTIFICATES. (Reported by J. & W. & Co) Pate- Maturity. 3'us Dec. 15. 1928 Dec. 15 s Mar Mar, June 3 Mex Sept. s Dec. Selizman 9929-32 99 31-32 99 18-32 9921-32 99 24-32 99 26.32 100 2-32 100 4-32 100 16-32 100 18-32 98 98 3-32 9731-32 982-32 9731-32 982-32 FOREIGN E-XCHANGE. (Quotations furnished by W. B. Hibbg & Co.) Nominal gold Selling ciiecks velue (orpar) tod Cor the lsiiia 1418 - 02063, i 2670 Bullish stores quo- |} Rate of | Ford plants during | FARM BUYING POWER. Further Decline in Agricultural Dollar Occurs This Week. NEW HAVEN, Conn., November 12 (Special) —Last week saw a further decline in agricultural buying power, from 103.5 to 101.9. The farmer’s dol- lar is worth little more now, however, than it averaged during 1926. It has not been so low since the last week of February, 1927. Such a sustained drop at the end of the harvest season, when farm consuming power should be greatest, is unfortunate from the point of view of the farmer. Cotton, corn and wool again declined slightly this week, and beef steers up, but wheat turned downward and more than offset recoveries in oats and hogs. Index numbers of farm purchasing power, and of agricultural and non- agricultural prices for various periods are given in the following table in which the average for 1926 represents 100: Agricul- Non-agri- tural cultural pric Farm Purchasing D es. prices. ower. Week ended— October average . September average August average. CHICAGO LIVE STOCK MARKET CHICAGO, November 12 (#) (United States Department of Agriculture).— Hogs—Receipts, 42,080 head; market mostly 10a20 lower; big packers bid- ding 25 lower; top, 9.35 paid for an occasional _load of choice 200-250 pounds. Butchers, medium to choice 250-300 pounds, 8.85a9.35; 200-250 pounds, 8.85a9.35; 160-200 pounds, 8.60 29.30; 130-160 pounds, 8.35a9.15. Pack- ing sows, 8.00a8.60. Pigs, medium to choice 90-130 poundsy 8.15a8.85. Cattle—Receipts, 22,000 head; calve 3,000 head; generally steady steer trade; inbetween grade, weighty offerings scarce; demand such kinds still nar- row; she stock about steady, bulls un- evenly higher, very scarce; best fed yearlings, 18.00. Slaughter classes, steers, good and choice, 1,300-1,500 pounds, 13.50a17.50; 1,100-1,300 pounds, 13.75a17.75; 950-1,100 pounds, 14.00a 18.00; common and medium, 850 pounds up, 8.75a1.25. Fed yearlings, good and choice 750-950 pounds, 13.75 al7.25. 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, 7.25a9.25; low cutter and cut~ ter, 6.00a7.25. Bulls, good and choice (beef), 9.75a11.25; cutter to medium, 17.50a9.90. Vealers (milk fed), good and choice, 13.75a15.50; medium, 12.50a 13.75; 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—Receipts, 30,000 head: run most fed Westerns and comebacks; early trade slow; few sales of fat lambs fully 25 lower; bids on half fat kinds off more; sheep and feeders around steady. Lambs, good and choice, 92 pounds down, 13.00a14.25;: medium, 12.25a13.00; cull and common, 8.25a medium to choice, 150 'n, 4.50a6.85; cull and com- mon, 1.75a5.00. Feeder lambs, good and choice, 12.25a13.35. MARYLAND TOBACCO SALES. BALTIMORE, November 12 (Spe- cial).—Receipts and sales of Maryland leaf tobacco again showed declines, from the previous week, the former totaling 189 hogsheads and sales of only 247 hogsheads were reported. This compares with receipts of 396 hogs- heads and sales of 461 hogsheads the previous week and leaves a stock in State tobacco warehouses of 20,308 hogsheads. New crop ground leaves continue to show very poor color and are meeting with a very indifferent demand. Quo- tations today for Maryland leaf to- bacco per 100 pounds: Inferior, 6a7: frosted, 3a4: sound, common and greenish, 8a15; good common, 16a25; medium, 26a40; good to find red, 14a 50; fancy, 50a51; seconds, common to good common, 6al5; medium, 16a23; seconds, good to fine, 24a35; upper country, burley, nominal; ground leaves, 3a25. — Reading Electrification. PHILADELPHIA, November 12 (#). —The Reading Railroad shortly will begin work on an electrification pro- gram involving an expenditure of $20,- 000,000, President Agnew T. Dice has announced. Electrification of a major portion of the system in the metropolitain area of Philadelphia will be the first step, with probable ultimate extensions to New York, Bethlehem and through the Schuylkill Valley. One hundred modern electric mul- tiple coaches will be placed in the service, he said. . PARIS BOURSE PIECES. PARIS, November 12 (#).—Trading was active and prices were firm on the Bourse today. Three per cent rentes, 65 francs 60 20_centimes. Exchange on London, 124 francs 111, centimes. The dollar was quoted at 25 francs 60'2 centimes. e Iron Ore Shipments. NEW YORK, November 12 (#).—Iron ore shipments from Lake Erie ports to | interior furnaces during the first nine days of November-totaled 1,109,049 tons, a new high record for that period. This compares o 560,280 tons a year ago. California 0il Output. NEW YORK, November 12 (#)— California_crude ol production ave aged 641,500 barrels daily in the week ended November 10, an increase 8,500 barrels daily over the preceding week. This is a new high on the cur- rent movement. Permit. The Charleston & Western Carolina Railway today asked the Interstate Commerce Commission for authority to have authenticated and delivered to its treasury $1,919,660 of first consolidated mortgage 5 per cent bonds. The bonds are to be held in the company's| treasury. REAL ESTATE LOANS 519 Homes, Apartments and Business Properti 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. | centimes; 5 per cent loans, 92 francs | of | —— G _STAR. WKSHINGTON. D. €., MONDAY, NOVEMBER 12, 1928. TRADING IS QUIET ATD. C. MARKET Dealers Have Ample Supplies to Meet Slow Demand Here. No heavy trading was reported this morning. Business usually is quiet the first market day of the week, con- sumers apparently depending largely upon holdovers from Sunday. Receipts along the country line were very light, few haulers being in evi- dence, but dealers had supplies ample to_meet the slow demand. They had plentiful supplies of vege- tables from nearby farms and truck gardens, and country apples also were plentiful, good stock selling around $1 a bushel. Dealers also had quantities of cider to offer. On the opposite side of B street dealers had their usual attractive dis- plays of fancy fruits and vegetable: most of their stock having come from far distant growing sections. ‘There was no scarcity of other com- modities, poultry, meats, butter and eggs being there in quantities more than ample to meet demands. The but- ter and egg markets continued firm, with a slight advance in butter prices. Prices of most commodities were about the same as prices reported Sat- urday, jobbers’ prices, especially in the poultry market, being slightly higher than prices reported. ‘Foday's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, a32. Eggs—Fresh, nery, 53a55; storage, 33a35. Poultry, alive — Turkeys, 40a: Spring chickens, 30a32: Leghorns, 27a 28; fowls, 27a28; roosters, 19a20; keats, young, 60a80; old, 30. Dressed turkeys, 45a50; Spring chickens, 38a40; Leg- honi)]s,soa?i%aaé fiapgns‘ large, 32a45; small, 30a35; ducks, 30a32; keats, 3 80a1.00. % R Meats, _fresh-killed—Beef, 18a27; veal, 22a27; lamb, 20a25; pork loins, 26a27; fresh lambs, 22a23; fresh shoulders, 18a20; smoked hams, 25a27; smoked shoulders, 21a22; bacon, 22: lard, 14a14!;, % Live stock—Calves, 15a16; lambs, 13. Fruit and Vegetable Review. The daily market report on fruits and vegetables (compiled by the Market News Service Bureau of Agricultural Economics) says: Apples — Supplies liberal; demand moderate, market steady; boxes, Wash- ington, medium to large size, extra fancy Delicious, mostly around 3. extra fancy staymans, 2.50a2.75; com bination extra fancy and fancy Winter bananas, mostly ripe, 2.00a2.25; bushel bashket, Maryland and Virginia, U. S. No. 1, 274 inches up, Staymans, 1.25a 1.50; U. S. No. 1, 2% inchesup, 1.50a1.60. Cabbage—Supplies moderate: demand light, market dull; New York and Penn- sylvania, 90-100 pound sacks, Danish type, 1.60al1.75; few higher. Celery—Supplies moderate; demand light, market about steady: New York, 2-3 crate, 250a3.00: ordinary quality and condition, 1.75a2.00; California, gr&;es. 5.00a5.50; few fancy, high as Lettuce—Supplies moderate; mand moderate, market about stead: California, crates, Iceberg type, 4-5 dozen, mostly 5.00. Onions—Supplies light; demand light, market firm; Michigan and New York, 100-nound sacks, yellow, U. S. No, 1 mostly 4.25; few higher. Potatoes—Supplies ~ moderate; de- mand moderate, market steady; Penn- sylvania, 150-pound sacks, round whites, U. 8. No. 1, 1.85a2.00; New York, 150~ pound sacks, round whites, U. S. No. . 1.85a2.00; New York, 150-pound sacks, round whites, U. S." No. 1, 2.00a 2.10; Michigan, 150-pound sacks, rus- set rurals, U. S. No. 1, 2.10a2.25; Idaho, 50-pound boxes, russet Burbanks, bak- ers, 2.50a2.75; 100-pound sacks, russet Burbanks, mostly around 3.00. Sweet potatoes—Supplies moderate: demand moderate, market steady; East Shore, Va., cloth“top barrels, Yellows, No. 1, 265a2.75; Nearby Maryland, bushel baskets, Nancy Halls, No, 1 1.25a1.50. Cucumbers—Supplies very light; de- mand light, market dull: Florida, :q&are bushel crates, fancy, fair quality, selected, 48a50; current receipts, hen- Squash—Supplies light; demand light, market steady; Florida, pepper crates, $.00a5.50. String beans—Supplies very light; de- mand light, market stea Florida, “s= bushel hampers green, 4.00; South Car- olina bushel hampers green, 4.50. Peppers — Supplies light; no stock shipped on market. Eggplant—No supplies on market. Cauliflower — Supplies moderate; de- We Own and Offer, Subject to Prior Sale FIRST MORTGAGE THREE YEAR 6% NOTES Secured by First Deed of Trust on THE SECURITIES BUILDING one-poy 511 ¢ 5274 tub, 50%a5134; store-packed, 30| 46a47; | de- | FINANC mand moderate, market slightly weake: New York, Long Island crates, 2.25a 2.50, mostly 2.50. ‘Tomatoes — Supplies light; demand ight, market slightly weaker; Califor- nia, lugs. ripes. wrapped, medium to large size, 3.00a3.25; fair quality and condition, 2.50a2.85. Oranges—Supplies moderate; demand light, market about steady; Florida, boxes, seedlings and Parson Browns, medium to large size, No. 1, 4.00a4.50, few higher; small size, 3.75a4.25; few low as 3.50. Grapefruit — Supplies moderate: de- mand light, market steady; Florida, boxes, No. 1, 3.75a4.00; No. 2, 3.25a3.50. Money and Prices Special Dispatch to The Star. NEW HAVEN, Conn,, November 12— In falling once more last week, the wholesale price index based on Dun's quotations reached 97.6, down 1-3 point; at the same time the dollar’s purchasing power was climbing 2-5 of a cent to 102.5. The wholesale price index is the lowest since the second week in June, and the purchasing power of the dol- lar has gone up 2'; cents since the first week in September, and is the highest since the third week in March of this year. Weekly variation continues small, indicating a normal, generally well sustained undercurrent of business. without noticeable lapses or spurts. Fluctuations in the general whole- sale price level and in the purchasing power of the dollar are given below for various periods. The average for the year 1926 is the base used. Whole- Purcha sale price Week ended-— e November 9., November 2 Year ago Qctober average September average. . llll] ve Cables from Europe reported foreign wholesale commodity prices as follows: (1926 = 100) England. France, Ita Week ended— August_average July average 1927 average 1926 averace (Copyrizht. 228838382 100.0 1928, by Irving Fisher.) EARNINGS REPORTED. NEW YORK, November 12 (#).—The Big Four Railroad reported today a decrease in earnings for the first nine months of the year in comparison to $10.04 a common share, against $13.01 in_the 1927 period. Pittsburgh & Lake Erie Railroad also showed a decrease, with $5.79 a common share earned in the first nine months against $7.40 in the same 1927 period. Michigan Centeral reported a gain, with earnings equaling $75.47 a share, compared to $70.16 in 1927. Rulland Railroad earned $5.37 a share on 90,576 shares, against $4.30 on 89,613 in 1927. Nevada Consolidated Copper Co. of New York reports profit of $10,368.093 in the first nine. months, against $4.797,010 in the corresponding 1927 period. 70,000 square vators, and is suitable for a house. It cxceptionally good investment. Real éstate Loans Insurance REALT $300,000.00 729 15th Street NNW. Washington, D. C. Dated November 7, 1928 Denominations $100.00 to $5,000.00 Interest payable semi-annually at the banking house of the trustee, The Commercial National Bank of Washington. PROPERTY: The proper United States Treasu The Commercial N surance Company. ‘THE COMMERCIAL NAT: SECURITY. ing at 729 15th Street D ty W, a new fine-story iry Building. VALUATION: This issue of $300,000.00 first deed of trust notes is less than 605 of the appraised value of the land and building at this time, and the locality is one that will no doubt enhance in value in the future. Ample fire-and tornado insurance for the protection of the holders of the notes is payable to ional Bank of Washington, Trustee, and Certificate of Title is issued by the Dis- trict Title Insurance Company, the Lawyers' Title Insurance Company and the Washington Title In- TONAL COMPANY, WITH ITS OWN THESE FIRST MORTGAGE NOTES AND RECOMMENDS THEM TO THE PUBLIC AS AN UN- USUAL OPPORTUNITY FOR THE INVESTMENT OF FUNDS IN A SAFE AND PROFITABLE Price 100 and Accrued Interest to Yield 6% The Commercial National Company, Incorporated Paid Up Capital, $900,000.00 R. Golden Donaldson, President ~wnership and management as the Comme: 14th & G Streets N.W. WASHINGTON, D. C. 3 | the same 1927 period. Earnings equaled | securing these notes is known as The Securities Build- reproof office building in the heart of the financial district of Washington and one-half square from the TAB, oy 5 SEEKS CO-OPERATION IN TEXTILE TRADE By the Assoclated Press. DANVILLE, Va., November 12—Co- operation between Southern and North- ern cotton manufacturers is sought by Lincoln Baylies, new president of the National Association of Cotton Manu- . facturers. who planned a tour of South- | ern textile manufacturing communi- | ties. Putting into action his wish to es- tablish better understanding and closer association of textile producers in the South and North, expressed at the as- sociation’s convention in Boston last month, Baylies will visit Charlotte, N. C.: Grenville, S. C., and later will con- tinue to other Southern citics. The 35-year-old partner in the sell- ing house of Amory Browne & Co., re- garded as one of the leaders of his in- dustry, is of the opinion that the day is gone when a mill “could play a lone hand and win." He considers open exchange of experience and ceftain production figures necessary to the wele fare of the business. Baylies' trip represents a new effort to provide for a closer working agree- ment between the national association, , whose members in 27 States are lo- |cated chiefly in the North. and the American Manufacturers’ Association, which largely repre Southern tes tile manufacturers. 1926 the a sociations met in joint convention in Atlantic City. . Detroit has 15 United Lutheran churches. REALTY INVESTMENT First Time Offered An unusually fine piece of busines proverty. situated in the heart of Takoma Park. A detached building of sound construction, in good_eon- ditton. and with are_two stores 100% rented reauest. Thos. E. Jarrell Co Realtors 721 10th Street N.W. Main 766 nd four apartments. Full information upon Money to Loan Secured by first deed of trust real estate. Prevailing Interest Joseph 1. Weller 40, Wash. L & Trast 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. NW. | Main ‘5833 1620 to 1628 L Street N.W. feet floor space One-half square from Conn. Ave. "THIS valuable 4-story business building has two freight ele- garage, storage rooms or ware- offered at an unusually low price and presents an To inspect—phone NMain 5027 0923NewYork Ave. and A OR 1237 Wisconsin Ave. Due November 7, 1931 FUNDS, HAS PURCHASED ! Maticna! Baa:)