Evening Star Newspaper, November 15, 1928, Page 13

INDUSTRIAL CURB ISSUES SHOW GAINS Rainbow Luminous and Hazeltine Corporation Figure in Advance. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, November 15.—Spec- facular movements again occurred in the prominent industrials on the Curb Exchange today. Although there were intervals when activity was not as pronounced as it had been recently, the speculative publiz displayed little con- cérn over the prospect of a sharp technical reaction, which the more conservative element thought vwas war- ranted. One of the most sensational per- farmers was Rainbow Luminous. There was nothing aside from its technical market position to account for the opening break of 11 points on a sele involving 2,000 shares. The price had been bid up from the low for the year of 20 to yesterday’s high of 73% and Jeft off at 70. After the opening sale today the price rallied back over prac- tically a'l the ground lost. Hazletine Corporation was another star performer, selling sharply up to a new high for th: year. The rise from the previous final of 32 to 43 followed announcement of the Federal court de- cision In favor of the company against Atwater Kent Radio, involving infringe- ment of patents. Similar suits are pending against other radio distributors. Other outstanding features were Massey-Harris, up_ almest 8 points, Gleaner Combine Harvester, Fiat de- bentures, Butler Bros., Gotham Knitbac Machine and Anchor Post Fence, all of which reached new high levels. Public Utllities continued prominent. Northeastern Pewer, opening on a block of 6,700 shares at 46%, subsequentlv changed hands above 49, a new higa record.. United Gas Improvement was turned over in heavy volume at a new high above 162. American Gas & Elec- tric, Electric Bond & Share Securi- ties and Northern States Power were other favorites. Oils were featured by a new high for Vacuum and gains of over 2 peints in Humble and almost 4 points m Standard of Kentucky while many of the independents were carried upward. ‘Frading started in ths new Conti- nental Can “when issued,” first sales occurring at 61. The new Giannini stock, Trans-America Corporation, was n;st?' admitted, sales taking place at 126%. 3t. Regis Paper continued upward. Announcement was made of the plan to issue one new share for every four held £3 a price of $75, the $3 dividend rate to be maintained. A total of 150,000 shares will be offered to stockholders. Proceeds are to be used for retirement of the 6 per cent debentures due in 1931. WHEAT PRICES SAG IN INITIAL TRADES By the Assoclated Press. CHICAGO, November 15.—Reports of rather free offerings of Argentine wheat to Burope tended to pull wheat prices down today in the early dealings here: there were also advices, however, that unsettled weather was threatening to interfere with Argentina’s wheat har- vest. Opening at 3 off to 3; up, Chi- cago wheat afterward showed price set- backs all around. Corn 2!so inclined to sag, stariing unchanged to 1: lower and subsequently undergoirg gen- eral downturn. Oais woere firm; pro- visions showed weakness. Bearish estimates of wheat yield'in Argentina and Australia “added at times today to the effect of reports that wheat offerings from Argéntina ‘were of liberal volume. Probable pro- duction in Ar%egnunl was flgx at 245,000,000 bushels, against 239,200,000 bushels last year. 1928 Australian wheat crop was officlally placed at 154,000,000 bushels, an increase of 2,000,000 bushels over recent ‘private forecasts, and 45,000,000 bushels more last year. On the other hand, Bu: Alres today was again report- ing heavy rains, a condition likely to hamper cutting of wheat and to bring about crop damage. Improved weather conditions over the corn belt gave the corn market a downward trend much of the time to- day. There was talk current, too, that, with Illinois and Towa having. assurance of practically 900,000,000 bushels of corn, Chicago will accumulate a large stock from this year's crop. It was mwd out also that the corn market been on the upgrade for seven days, and profit-taking sales were ex- panding. COTTON IS STEADY IN OPENING DEALS By the Associated Press. NEW YORK, November 15—The cotton market opened steady at a de- cline fo 7 to 11 points, with the active ‘months showing net losses of about 9 to 13 points during the first few minutes under further Southern selling liquidation, which was probably pro- moted by relatively easy Liverpcol canles. January sold off to 19.43, but there was some trade buying as well as covering on this decline, and the market steadled up after the early selling had Tun its course, with prices showing ral- lies of 5 or 6 points from the lowest by the end of the first half hour. Private cables reported local and London liqui- dation absorbed by trade buying in Liv. erpol, and said there was a good in. quiry for cotton cloths from India, al- though many of the offers were un- ‘workable. CHICAGO LIVE STOCK MARKET CHICAGO, November 15 (®&).— (United States Department of Agricul- ture)—Hogs—Receipts, 40,000 head; market strong to 10 higher than Wed- nesday's average; light lights, 10a20; higher top, $9.00 paid freely for choice 190-270 pounds. Butchers—Medium to choice, 2502300 pounds, 8.75a9.00; 200-250 pounds, 8.75 2900; 160-200 pounds, 8.50a9.00; 130- 160 pounds, 8.25a8 85. Packing sows, 7.85a8.35. Pigs, medium to choice, 90~ 230 pounds, 8.00a8.75. Cattle—Receints, 13,000 head; calves, 3,000 head; weighty steers scarce, stea to strong; 18.00 pald for prime 1,392~ pound averages; light steers and year- lings slow, weak:; she stock unevenly lower; bulls show at Wednesday's 25 and 45°downturn; vealers 25 and 50 lower. Slaughter classes: Steers—Good and choite, 1,300 to 1500 pounds, 13.75a 17.75; 1100 to 1300 pounds, 13.75a 17.75; 950 to 1,100 pounds, 13.75218.00; common and medium, 850 pounds up, 8.75214.00. Ped yearlings—Good and choice, 750 to 950 pounds, 13.50a17.25. Helfers—Good and choice, 850 pounds down, 13.00215.75; common and me- 8.00213.00. Cows—Good and ] ., 9.00al1 common and me- dium, 7.2529.0 ow cutter and cutter, 5.7527.25. Bulls—Good and choice (beef), 9.50a11.25; cutter to medium, 7.2589.65. Vealers (milk fed)—Good and choice, 13.50a15.50; medium, 12.50a 1350; cull and common, 8.00a12.50. Stocker and feeder steers—Good and choice (all weights), 11.25a12.50; com= mon and medium, 9.00a11.25. Sheep—Receipts, 9,090 head; mar- ket slow; fat lambs, steady to uneven- 1y lower; early top, 13.60; bulk, 13.25 downward; sheep and feeders scarce, steady. Lambs, good and choice, 92 pound: down, 12.75a13.60; medium, 12.00a12. cull ‘and common, 825212.00; &éwes, medium to choice 150 pounds down, 4.5026.85; cull and common, 1.7525.00. Feeder lambs, good and choice, 12.253 1350 NEW YORK CURB MARKET Received by Private Wire Direct to The Star Nffice Following is a list of stocks and bonds traded in on the New York Curb Market today: TRIALS. e High. Low. Noon. 1 Acoustic Prod... W, e 18 Ada 2 Adams Millis. nsc iros, Campoeil Wyast n_Mayconi W, van Dobb 1'3 Gurtis Pup ... 1§ Curtiss _Fiying 1 Davenpory Hos ... 83 De P c 3 Freed Eisem 43 Freshman Chas 1 60 Freshman Chas ris. . Gen Am Inv 6 BTN BRR S, ! 2 0 3'; Hart Parr 31 Hazeltine Corp 18 HI Walke 5 Household 7 Hygrade Food 5 Insur Cf 33 sy 4 5 Mohawk Hud' %> Moh Hud P 1 »fd 1 Mohawk Hud war | S5 EFSS I TESE rtect Gircl Philip Morris {lip_Morris A ck Bar & Co nor EELT LTS 2323 § Sheatter Pen Egllthel!t Pfl n 2 Southe P L war 7 South Asbe.!'.o!x1 18pald A G & Bros. 1 2 Spencer, 4 Spleg utz 1t Transcon Aff Tisp Trans Lux Piet m yel 11 Zonits 5 Sales MINING STOCKS. in hundreds 30 Ariz Clobe C... 8 Carnegie Metals 24 Cent Am Mines. . 3 Gom Tun & Drain #.Gans Cop Mi 13 Diviae " Pxiens vide EXtend. b 10 Golden Center M 57Hud Bay Mi Vel.. hio Cop 1 Premier Gold 'M:... 2 12 Roan Antelope Gop. 4 Shattuck Denn 139 Salesin INDEPENDENT OIL STOCKS. hundreds, 3 Am’ Con Olifids ) 18 Lien Ol _. 3’ 5 Magdal Synd .73 . 1 Mount Gulf . 4 “ 46 Mount P: THE EVENING § 4Nat Puel Gas. Sales ANDARD OIL 1SSUTS AND. HD onits T AN BUBSIBTARI 47,5 oci 500 Angle e 1 $8 A" o e Sales in thousands. 43 Abra_ Strauss 8%as wi 112 23 Abitibi P & P 55 A.. 87 6 Ala Pow 58 1004 . 9475 947 STAR, WASHINGTON. TRADE WAR SEEN INAUTO INDUSTRY During Coming Year—Firms Plan Campaign. BY J. C. ROYLE. Spectal Dispatch to The Star. NEW YORK, November 15.—A new gage of battle has been flung into the lists in the automobile industry. Again, as always, it will be a contest in which only the strong may survive and the test will prove just how strong are some of the vaunted leaders in the industry. For the moment, production and sales of automobiles are falling off. Employ- ment in the great automobile centers is dropping at the rate of about 4,500 workers a week, but this is only the lull before the storm which may be expected to follow the automobile shows in January. Preparations for the strug- gle are being made today in the form of price reductions on some of the older style models, which it is desirable to move now. The two great leaders in the industry will lock horns in a desperate struggle. This battle was expected to materialize this year. But the delays experienced by the second largest producer post- poned it. Now production by that pro- ducer is at its height. Materials which were delayed earlier are arriving on schedule, production is at its peak and high executives of the company con- fidently believe in their ability to swamp the market if it seems desirable to do 50 in 1029, Thelir attacks will find their rivals strongly entrenched, and with all the prestige and morale which a tremen- dously successful year can give them. The smaller units of the industry, 20% | operating on their own, will have to put forth their utmost efforts and utilize 9712 | the greatest ingenuity to keep their 8Intl { jnterstate Pow 58. Invest Corp Am 35 A. LN NS i 5 A la Mg:t LI.!'(K & P 8s A100% W D Narrag Co 58 A. ... 99% 993 12 Nathan Straus 65 vi124% INat B & L 6 108" 3 1% i 105% 1022 ‘g:" 1002 100 100 98% ; 01 9% 13 Boilvia 7 11z 974 Getios Alr 00 g:;nu Adres 7 44 Sont B Pt Bank stas Ha 4 §iba © 9% 1 ik 3 ba Co_8s. 28 ::.R'—::-».;u-—-. Q0 YNIEDY Ea Atlantic Macaron!.1% 2 Ref BB oo st 2, 5 Covt 8 1001, § O B ke ohes AL 0914 xd—Ex-dividend, ‘wi—When issucd. New. SwoWith varrents. o SHORT-TERM SECURITIES. (Reported by J & W. Selismen & Co.) o3, B, Wt s 4s 1929 1929 um Co. of Aliis-Chalmers Co. 5t Alumin Am Amer. Tel. & Tel. O Rwy. Rwy. R 104% 1013 S o- DIVIDENDS. - Pay- Hldrs. of D> 2d pi Canadian Pacific. Container Cori Do B. 0 Dl A Contineniai ' Can_ pf.$1.75 ity Av Bus Sec 16c Shubert Thea! 8o _Porto Rico Nat Sugar Otis . .coator.. Sterling Secur P} Am Agsresates Brooklyn City R R..100 V8% .. el O sescns B o Peb 1 2o pproval of stockholders. *Subject @3 salients from being flattened out. Financial ammunition and supplies are not lacking by any of the main factors, but alllances of the smaller groups may be anticipated when the real “putsch” starts. The industry is where the home-make can make no error in JOHNS! —will “dress up” TABLE and prevent i spilled beverages. Enamels for Radiators, 1334 New York Ave Some Styles Tth . the ostrich breeders, who hl?l‘: b:leellaphlrd hit by the decline in the | wearing plumes, the gov- | i&;hn’\?:nh\:( South Africa. is buying | $600,000 worth of feathers and storing ' thena bther Hahn Shoes |Heavy Competition Expected| —of a practical natur We cut Glass Tops for furniture, to order at Reasonable Prices. s HUGH REILLY CO. PAINTS & GLASS type or shoe? You are probably like most men, you prefer a certain type of shoe and wear it perma- nently. Florsheim makes the particular shape that fits your feet and suits your taste. The style shown, The WarTon, is a dignified type, a brogue, fa- vored by a great many men. Come in and we’ll show you the new Florsheims in your particular type. *10 D. C., THURSDAY. st concluding the best year in the istory of the trade, Twenty repre- sentative concerns will show an advance in profits approximating 20 per cent, as compared with the results of 1927. Possibly 4,700,000 cars and trucks will be turned out in 1923. The division of the largest producer which comes into most direct conflict with the product of the second largest manufacturer so far has shown a gain of 27 per cent, as compared with the corresponding period of 1927. In the medium priced field, one independent units turned out by the former have totaled 1,100,000 or more, as compared with du,onto tl;gl' its principal competito Few expec in 1929. Another of the lower priced cent. The replacement demand in this country is & fairly stable quantity. Each manufacturer will have an op- | portunity to capture a fair portion of | this business. The demand for new cars must depend on many factors, chief among which are the industrial and commercial prosperity of the coun- try, the financial return to agricul- turists, and the development of more ood roads. ’ It is the foreign ficld, however. to which many of the domestic producers | are looking in their plans for an in- crease in business. BIG IRON MERGER PLANNED. LONDON, November 15 (#).—The largest merger in the iron and steel trade of Great Britain is likely to come to fruition very shortly when the Dor- man Long Co., with a capital of $60,- 000,000, and the Blockow-Vaughan Co., with a capital of $40,000,000, effect an amalgamation. Many leaders in the industry have long maintained that amalgamations, to reduce overheal charges and general cosis, offer_the only hope for such in- dustries. Last week stockholders ap- proved the merger of the famous South Durham Steel & Iron Co. with the Cargo Fleet Iron Co. |~ The Blockow-Vaughan Co. two weeks ago announced that its earnings, while not permitting a dividend, would take care of debenture interests, and indicated some headway had been made in repairing the ravages of the 1926 coal strike. SILVER QUOTATIONS. NEW YORK, November 15 (#).— Bar silver, 58; Mexican dollars, 437 [o[——=]o[c———=[a]l—+—jal—x] Window Glass Cut to Order Xmas Suggestions e are always in order r is concerned, so you giving “friend wife” a ELECTRIC WAXER OUTFIT. 0| ———|0|c——=|p|————alc———|q] Limited Number of Regular $29.50 & Johnson’s Electric @ [| Waxer Outfits, 24> [e——=a] ol ——— o] ——— |0 = A PLATE GLASS TOP the THANKSGIVING njury from hot dishes, Furniture Polishes, etc. .—Phcne Main 1703 youf $11 and $12 Man’s Shop 14th at G &K 3212 14th has shown a gain of 260 per cent. The. T. is ratio to be maintained pmgucers has shown a gain of 69 per| for Men, $5 to $14 NOVEMBER 15, 1928. NOVEMEER IS = MONTH-§—— THE AVENUE AT 7™ “SAKS FLEECE” HAS THE CALL! roved Not Only by Fashion, But by Your Sense of Good Value! $37% 950 EN we announced the “Saks Fleece” Overcoat, we knew it was right. At last there had been created a soft, fleecy Overcoat that had much warmth but little weight — the ease of a town coat but the comfort of » storm coat! An Overcoat that we could GUARANTEE POSITIVELY FOR TWO YEARS’ SERVICE! VERY fabric used is of kno tested strength and wear-resisting qualities. All the world knows and honors Continental Woolens! And at $50 we give yon Imported O’Briens! There is no more satisfactory over- coat investment! The “Saks Fleece” Is App OUR showings of the “Saks Fleece” are complete— there are smart plain-shoulder and distinguished raglan-shoulder models. There are Blues, Grays and Browns aplenty., There are single-breasted and double- breasted styles. There are all sizes. Remember the Saks 2-Year Guarantee! Saks—Third Floor Very Much “In the Picture”: NEW 2-TROUSER SUITS Without ' Which Thanksgiving Isn’t Complete! '3 40 45 M D you, we only mention Thanksgiving because it’s a time when practically every man adds another suit to his wardrobe. But these are the kind of values that would appeal to you even if it weren’t near the holidays! WE selected for this outstanding group finer, costlier woolens (in each grade) than you can get at ordinary times. Every new model is present—both single-breasted and double-breasted; with single-breasted vests and dou- ble-breasted. ‘There are Serges, Worsteds and Unfinished Worsteds of real “class.” And you know what we offer in tailoring. Better act on the impulse, if you like a real “buy.” Saks—Third Floor Rin, owlh ki y SR o - i