Evening Star Newspaper, November 16, 1928, Page 14

FINANCIAL, In Nearby Virginia 1 Prudential 5 /2% Insurance Co. Loans Commonwealth Investment Co. 917 15b St N.W. Phone Main 2628 WE FINANCE —all classes 01 income-oroducing oroperty Large Loans a Specialty Current tnterest rate ana commissior Higbie & Ri<hardson, Inc, 816 15ty St. N.W. - == Buck & Company Eetonianes 1016 Stocks Bonds Grain Cotton write o1 call for weekly market tetter. No obligations BUCK AND COMPANY Evans Bld; 1420 New York Ave. Franklin 7390 First Mortgage Lcans Applications invited for first trust loans at 5 1/2 % nterest No curtails—No appraisal fees Prompt Attention W. H. WEST CO. Founded 1594 1519 K Street Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representine Mutua) Benefit Lite Ina. Co 1520 K Street Main 475 For Lease in the ‘Edmonds Building 917 15th St. Located in the center of the Pinancial and Realty districts. Sev- eral desirable suites now available. Very low rentals. HANNON: & LUCH 1435 K St. N.W. Main 2345 Money to Loan Secured by Grst deed of n Prevailine interest and commi: Joseph 1 Weller 45, Wi L 4 290000000 Trast NW > hen are you Moving If you are moving soon, you ought to decide what new pieces of office furniture you will need. New desks, chairs, filing cases and safes will. be needed to increase efficiency and im- prove the office appearance. £ THE W. D. CAMPBELL COMPANY Two Entrances 1018 15th St. N.W. 1506 L 5t. N.W. First and Second Trust Money Available On Homes, Apartments and Business Properties Prevailing Interest Rates Moderate Charges No Appraisal Fees District National Securities Corporation Main 2994. 1406 G St. N.W. Continental Trust Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Checques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER. President Capital, $1,000,000.00 §| shares changed hands, the first sale in LAND BANKS SHOW Farmers’ Borrowings Are Be- ing Reduced, Report States. Special Dividend Voted. BY EDWARD C. STONE. The farmers of the country are not | borrowing so much money as they did last year, according to reports to the Treasury Department. Loans closed by the Federal land Banks and the joint stock land banks continued to \ | decline during the j| quarter ended Sep- tember 30 and during the first nine months of the vear, the latest: re- port of the sys- tem shows. Loans by the Federal intermedi- ate credit banks showed . increases during both periods over the preceding yea {s . b g t A coun lecrease i slightly, Earnings by these latter banks were slightly lower for the first nine months of 1928 than for the corresponding period in 1927. Earnings of the land banks and the joint stock and land banks are not re- ported. Assets of the 12 Federal land banks September 30 totaled $1.264,438,317, of which $1,190,148,246 was ascounted for by net mortgage loans. Farm loan bonds outstanding totaled $1,161,394,- 645, with $1,877.580 in addition on hand but unsold. Total loans closed dur- ing the third quarter of 1928 were $18,- 286,400, against $25,296,300 for third | | quarter of 1927. For the first nine | months total of loans closed was $81,- | 273,100, against $111,444,300 in the first nine months of 1927. B H Combined assets of the 50 joint stock land banks September 30 totaled $659,- 841,129, of which net mortgage loans | constituted $608,451,480. Tectal farm | 800, with &n additional $3,890,300 au- | thorized but unsold. Total loans closed |for the third quarter were $7,907,900, against $12,100.300 for the correspond- | ing period of 1927. For the ni months |ended September 30, total loans closed } | were $32,297,500, against $71,625,200 for | the similar period of 1927. ‘Total combined assets of the 12 Fed- eral intermediate credit banks were $100,477,987, the report shows. Chief of the assets of th> 12 banks were loans of $17,741.289, rediscounts of $50,878,301 and cash on’hand of $4,238,865. Total loans closed by the 12 banks during the | quarter were $17,462,209. against $12,- “326.331 for the corresponding period of 11927, For the first nine months of 1928 {1oans rlosed by the banks totaled $27.- 1991.879, against $26,272,760 for the similar 1927 period. Bank Declares Special Dividend, The Farmers & Mechanics’ National Bank, in Georretown. yesterday declared a sperial dividend of $2.60 ver share, payable December 15 to stockhnlders of record on November 30, Harry 1. Selby, the cashier, announced today. This a- tion by the directors does not consti- tute an extra dividend, but the nayment is voted at this time in connection with the Riegs Bank consolidation. Riggs National tnok similar action a few days 2go. The books will be clesed from De- | cember 1 to December 3, inclusive. ‘The divectors of th> Atlentic Coast Pailroad have daclar~d the usnel | semi-annual dividend of $3.50 on com- {man stack. both vayable January 10 to stock of record December 12. Huge Gains in Bank Resources. John Ponle, vresident nf the Federal- | American National Ban¥, has made a | ~~mparison of local bank resources for | th past 30 years, th2 figures reve~ling |~mozine progress durine thet time. | Total resources of Washington benks {=r> now abort $326.436,300. { Ftatisties show that eanital. srrnlus ~nd undivided nrofits of. the Washing- | ton institutions have erown to £50.329.- 000 in the 20-vear nerjod. five times the ‘atel of $R.711,000 renortod in 1897, | Dennsits, which reached 3264.576,800 on { Netober 3. have increased 12 times over {1n 20 years. {_The savings bank nroun anvears tn | have vnderzone a nhenomenal rrowth {in tatal ragonrees. rising from $105.000 n 1897 to $44.2R9.500 ot the present time. The early figure, howaver, is un- cffirial, Th> next laresst erowth in resourres was shown by th~ trust comoanies. the ccmoilation dis~loses. the $11.284.000 segregate recnrded 30 ve~rs ago com- }nn"n( with 8112875400 this year. The Inatianal hank eroun, which now has | #169.998 400 in resources, reported $21,- 179000 in 1897. | . Fioures fnr the three orouns. rover- |ing tho 1897, 1919 and 1928 periods, are | as follovs: | CAPITAL, SUR®™NS AND UNDIVIDED ! PROFITS. 1928 s21.018.000 22,194 100 National | Prust | Eavings . Totals .. 18,049,400 3,036,900 334,167,200 | National . T +.$21,353,000 $162,101,000 264,576,800 TOTAL RESOURCES, $21,179.000 $109.729,700 §169,999,400 11284:000 73,934,200 *112.875.400 Totals National .. Trust Savings . Totals . %32,568,000 $200.411,100 $326.436.200 *Unomcial. Gough to Address Bankers. ‘The next regular meeting of the Dis- trict of Columbia Conference of Bank Auditors and Controllers will be an open meeting held at the University Club on Wednesday evening, Novem- ber 21, at 8 pm. E. H. Gough, deputy controller of | the currency, will give a talk on “The Duties of the Bank Auditor and His Relation to the Bank Examiner.” The presidents of the banks of Wash- ington have been invited to this meet- ing, and it is expected that this will be one of the largest meetings ever had by the conference. Washington Gas Still Climbing. ‘Washington Gas Light stock reached another new high mark today, when 15 shares sold at 105%, after closing yes- torday at 105. Bank of Bethesda stock 2lso sold at a new high of 71. Fifteen a long time, and & gain of a point. Bonds were active on the local board today, Capital Traction, Washington Gas, Washington Railway & Electric and Wardman Park Hotel issues sell- ing in fair-sized denominations around reeent levels. i Among the bank stocks Riggs war- rants sold at 320, ten shares of District National came out at 238 and ten of National Savings & Trust at 500. -The first trading in Park Sayings Bank | stock since the recent stock dividend | was recorded today, when 20 shares changzd hands at 60. Mergenthaler Linotype was again among the leaders, opening at 100% and closing at 100% on ‘a 45-share turnover, Potomac Power 6 per cent preferred opened at 113%, Capital Traction sold at 1062, Railway & Elec- tric preferred at 99% and 50 shares of Firemen's Insurance Co. come out at 38. Chestnut Farms Dairy preferred commanded 108%. Stock Increase Approved. NEW YORK, November 16 (P).— LOANS LIQUIDATED Atl Gulf & W1.. Atlantic Ref(1). AtlasPowder(4)- Ausun-Nich pf. Auto Sales. Auto Sales pf (3) Autostrap A(3). Balto & O(6).... 116% 117% 116 Bang & Ar(33%). BankofCom(18). 700 705 700 Barker Bros(2). | Barnet Leather. | Barnsdall A (2). | Beacun Oil...... i Beecn-Nut (3).. Belding-Hemwy. Delg N Rpf(6). Best & Co(3).... Be hlehem Steel Beth Steel pf(7) 120% 121 Bloomingdale. .. Bon Ami A(4).. Booth Fish 1st.. n | Certain-Teed (4) 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 be found in the 5:30 edition. Open. High. Low 39y 39% 39% 9% T9% 79% T9% 116% 116 359 9 48 621 3% 8% 8le 8% 8t Albany Papr(2). 25% 25% 25% Allied Chem 238 239% 237 Allis-Chalm(7). 143% 146% 143% | Amerada(2) 38% 39 38% |Am Agricul Chm 21% 22 20% Am AgriCh pf.. 0% 74% 69% Vote (2). 138 139% 137% 18 18 18 36, 364 36 42 4% 42 14% 14% 14 115% 117% 114% 94% 95% 94% 46 46 46 1% 1% 11% 2% 2% 2% 285% 295 285% 51% 66 51% 108% 108% 108% Close. Abitibi Pow (4). 39% | Aoitibi Po pf(6) Abrahmé&Straus 116 Adams Exp(6).. 359 373 Adams Ex pf(3). 94 Adv Rumley.... 48 Adv Rumley p! 62% Ahumada Lead.. 3% Air Redetn (13). 85% Ajax Rubber.... 9 Aiaska Junea. Am Bk Am Beet Sugar. Am Bosch Am Br Sh(j1.60) Am Brown Bov.. Am Can(2). AmCar&Fdy Am Chicle (2) ug(8ve). . cauTil(3) Am Iixpress(6). Am & For Pow. Am&ForP pf(7 Am&For P 2d 7 Am Hide & L pf. Am Home Pr(3) Am Ice(t24%) Am Internatl Am LaFr&zoam Am LaFrance pf Am Linseed. 14514 145% 145 Am Locomot(8). 101% 108% 101% A Machine (5% 178% 179 178 Am Metals(3 5% B1% 50% Am P& L (M1 82 821 81 AmPo&L pf(6). 101% 101% 101% AmPo&LUDSA. 7% 1% 1% Am Pow pf(sta) 86 86% 86 Am Radiator(6). 178% 185 178% Am Ry x(6)... 128'3 129 128% Am Republ s, o T5% T4 Am Saf Razir5) 1 N Am Seating(3).. 33 32% Am Ship & Com. 4 Am Smelting(8) 278 Am Sruft(12)... 178 Am St Fdys(3). 60% 64% 60% Am Sugar. 8% 82k 81% Am Sugar pf(7). 108% 108% 108% Am Sumatra (3) 60 61 60 AmTel &Ca(s). 20% 20% 20% Am Tel & Tel(9) 188% 191% 188 Am Tobacco(8), 180% 182% 180 Am Tobac B(8). 182 1841 180% Am Tob pf(6)... 120% 120% 120% Am TypeFo(8).. 140 142 140% AmWW&El(cl). 6314 61% Am Woolen. . 22 24% 2% Am Woolen pf.". 524 57T4% 52% Am WrPapfefs 46W 46% 45% Am Zinc. 4% 445 44 Am Zinc pf. 0L 102 101 Anaconda(4)... 9% 108% 99% Andes Copr 7 45% 464 45 Archer-Dan(). 104% 105 Armour I11(A). 18 Armour 111(B) Armour IIl pfi7) Arnotd Con & Co Artloom(3).. Art Metal(13%). 30 AssoDryG(214). 58 Aschison(10) Al Coast L(110) 172 131% 128Y% 8% 8% 8% T8% 3% 4 281% 178 644 824 108% 60% 20% 191% 180 4 4 281% 278 178 178 8% 85% 440 35% 864 85% 44% 4% 354 173 48% 48% 43% 61 61 60% 56% 57 b3k 92 92% 92% 33% 334 33% 14% 15% 14% 35 85% 34w 44% 44h% 4% Atl Gulf pf(3).. 3% 3% 70 20% 20% 29% 24% 24% 24% 50 50% 48k 21% 22 21% 86% 88% 86 14% 14% 14% B4y 84% 84w 99 99 97y 1% . 1% 5% . 120% 45% 46% 45 ki % 75 11% 12% 11% 69 69% 69% Borden Milk(6). 170 171% 168 Boston & Maine. 80 80 80 Briggs MfgFCo. 5612 56% b5% British Emp 1st. 32 32 32 BritishEmp 2d. 6% 6% b% Brockwy Mot(4) 73 3% 2% Bklyn-Man(4).. 68% 69 BklynUnGas(5). 167 Brunswick B(3) ' 56% b56% b53% Brunaswick Ter. 44 45% 40% Bucyrus(1)..... 35% 36% 3b% Bueyruscv(2l) 45 4bw 447 Burns BrosA(8) 123% 123% 123% Bush Term(g2). 71 72 70% Butte Cop & Zine 8% 8% 8l Butte & Sup(2). 10% 10% 10 Butterick Co. 44 4% 44y Byer & Co... 160 164% 160 By-Prod(f2.75). 95% 95% 95 Calit Pack(4)... T4% T4% T4 Callahan Zine... 3% 3% 3% Calumet&Ar(6). 121% 122% 119% u & Hecla(4) 45% 46 45% 1 Dry (1432). 79% 79% 787 Can Pacific(10). 234% 231% 232% Canon M{lls 2.80. 47% 47% 46 Case Threshg(6) 420 430 420 Cent Alloy(2)... 44% 45% 44 Century Rib M.. 20% 20% 19% Cerrode Pas(5). 107 107% 105% 32 32 3% Chandler-Clev.. 19% 19% 19 Chandler-Cl pf.. 27% 2% 26% Cles & Ohio(10) 198% 199% 198% C&OCorpn(3). 172 T8% Chi & Alton..... 10% Chi & Alton pf.. 18% Chi & East 111 pf 62 Chi Great West. 16% Chi Gt West pf.. 36% ChiMil& St P.. 35% il b53% . % 9% 90 Pne Tocl(6). 149% 1563% 148% RI&Pac(6).. 134 135% 133% 50 50 48% b4% b5 53% ile Copper(3). 63% 67 63% sler(3).... 134% 134% 132 City StB5% stk 112 112 108% Cluett-Peab(5). ,72% 72% 12% Coca-Cola(6)... 169% 172 169% Collias & Aikmn 61% 62 61 Col Fuel & Iron. 74% 82% 74% Col Gas & E1(5). 129% 130% 127% Col G&E pfA(6) 106% 107 106% Columbia Graph 72% 72% 70% Col Carbou(4).. 97% 98% 96% Columb Carbrts 2% 2% 2% Com Cred(1).... 51% 52% 50% Com Inv Tr(t4). 130 131% 129% Com Inv (war).., 23 24% 23 Com Invst(rts). 8 8% 8 Com InTrpf6% 97% 9T% 97% Comm Solv (j8). 282% 2341 232 Com Power(13). 91% 96 91% Congoleum-Nair 30 30 29 73 3% 73 94% 95% 94% 25% 26% 20% 89% O1% 99% 100 Booth Fisheries. 1ds(2.40) . Congz Cgrs (16). Consul Cgra(1). Con Film pr(2). Consol Gast(5). . ConsolGaspl(5). Consol Textile Container A 1.2 Container B 60c. Cont Baking A.. Cont Baking B. . Cont Bak pf(8). 7 87 87 Cont Can(5) 121% 123'% 120% Cont Insur(6)... 86 88 86 Contl Mot(80c). 17 17% 16% CornlixBank(20) 760 760 750 Corn Pro(133%). Coty Inc (8) Crex Carpet. Crucible Stl(5). CubaCaneSugar. Cuba Company . . Cuban Am S(1), Cuban Dom Sug. 5% 6% % Cudahy Pkg(4). 68% 69 68 Curtiss Aerot1). 140% 143% 139% Cutlr-Ham(3%) 61 61 60% Cuyamel Fruit.. 58% ©68% B58% 824 82% 82% 5% 6% 6k 22% 28% 22% 17 17 16% Stockholders of Dunhill International, Inc., of New York have approved the proposed increase in capital stock to 200,000 no par spres from 125,000, Davison Chem 61% 62% 61% Debenhms(2.91) 39% 39% 597 Del & Hud(¥2%.. 394 194 193% Del L & W(#7).. Den RG Wn pf.. Detroit Ed(8)... Detroit Ed (rts) Devoe A (13.20). Dodge Bros A... Dothe Mines(1). Drug Inci4).... Dunhill Int(4).. Dupont(713.50). Eastman(18)... Katon Axle(2).. EatonAxle(rts) Eisenlohr&Bro. . Eitingon(2%).. Eitingn pf(6%). Elec Auto L(4). Electric Boat. .. KlecPow&Lt(1). Elec P&Lt pf(7) E'ec Stor Rat(5) Eug Pub Ser1). Eng Pu S pf(5). Equit Bldg(2).. EquitableTr(12) ErieRR.. Erie 1st pf Eureka V(tlz).. Fairbanks(3)... Federal M & Sm. | Fed MotT (f80c). Fidelity-Phoenx First NatS(13z). Fisk Rubber. .., Fisk Rub 1st pf. Fisk R 1st pf cv. Fieischmann(3). Florsheim (A).. ox Film A(4).. Freeport (163). Gabriel Snub A.. Gardner Motor, , Gen Am Tnk(4) . Gen ATC pf(7).. Gen Asphalt. ... Gen Asph pf(5). Gen Cable...... Gen Cable A(4). Gen Cigars(4).. Gen Elec(t5)... GenElec sp(60c) Gen GasA (01% ) Gen lce Crm(3). Gen Motors 19% Gen Mot (New). Gen Mot pf7).. GenOutdrad(2). Gen Outdr Ad(4) Gen Rty Sig(b) Gen Refrac(s Gotham($23). Gothamn v §2 Graham-Paige. Grhm-Paige cfs. Granby-Minc4), Grand F&W (1 Grand Unon. Grand Un pf( Grant W T (1).. Grasselli (2.68). Grt North pf(5). Gt Nor pf cfs(b) Gt NoOr cfs 2% Grt Wn Sug 2.8 Greene Cana(4 Guantanamo Su. Gulf Stat Sti(4). Hartmn B(1.20), Havana EI Ry. . Helme G W (5) Aershey Corp... Hershey pf(4).. Hershey pr pf(6) Holind Fur 2% Hollander & Son Household: 14) .. Houston Oil. ... Howe Sound(4). Hud Man(23%).. Hudson Mot(5). Hupp Mot (£2).. 11linois Cen(7) 1l Cent pf(6) 1nA 011 (1%).. Indian Refining Indian Refg ct! Ifidust Rayon. Ingersoll R(15 Inland S(k16%). +% | Inspiration Cop. InterboroRapTr. InterconRubber, Internat Agri... Int Ag Ch pf(7). Int Bus Ma(5).. /| Int Cement(4). . Open. 131 58% Int Com Engi2). 3 Int Harv(j6).. Int Mtch pt 3.20. Int Mer Marine. Int Mer Mar pf.. Int Nickel (3)... Inter Nick pf(6) Int Paper(2.40). Int Paper pf(6). IntPay ofs(2.40) Int Ry Cent Am. Int Tel & Tel(6). Intertype(t1). Jewel Tea (15) Johns-Manv(3 Jordan Motor, .. Kan City South. Kaufmn DS 13 . Kayser J (5 Keith-Al p£(7) Kelly-Spring.., Kelly Tire 6%pf ¥4 (Kelly Tire 8% pf Kels Hayes(2).. Kelvinator Corp. Kennecott(6). Kreuger & Toll.. Kroger Grotc1). LagoOil........ Lambert (16%). Lee Tire & Rub. Leh Por Cmt 2% Lehn & Fink(3). Life Sav(1.60).. Lig Myers(5).. Lig & Myrs B 15. Lima Locomtve, Liq Carb (t4%). Loew’s Inc (2).. Loew's pf(61). Loft. ceseaas Loose-W (1.60) Lorillard Co. ..., Lorilard p£(7). Louisiana Oil. .. Louis GasA 1.75. Louis & Nash(7) Ludlum Stl(2).. McAndrews 2.60. McCall Corp(3 McCrory B(2)... McKeespt Tin McKes&Ro 1.60. McKsn pf A 3% Mack Truck(6) Manat! Sugar Mandel(2%) Maracaibo Oil. Marlan Oil...... Marlin-1t(+3% Martin-Parry Muthieson(6). May Dept S(4) Maytag (1%) Maytag pt(3). Melviile Shoe( Middle States. .. Mid States ctfs. Midland pf(112) 5. Mo Kan & Tex.. Mo K&Tex pf(7) Missour! Pacific. Mi Mohwk Cur 214, Montgmry W 5. Moon Motor.... Mother Lo(30c) Motion Pic Corp. Motor Meter A Motor Prod(2) Motor Whi(f2 High. 131 54 202 Low. Close. 131 .18 58% 5! 1 9 Mullins Mfg. ... Munsingwi (3). Murray Corp. Nash Motrs(16). Nat Acme(sta).. Nat Bellas Hess. NatBHess pf(7). Natl Biscult(t7) Nat Cash R A(3) Nat Dairy (13). Nat Dept Stores. Nat Distillers. .. Nat Enamel &S. Nat Lead(8). .. Nat Pow&Lt(1). Nat Ry Mex 2d.. Nat Supply (16) . Nat Teat4).. Nevada C(1%) N Y Air Br(3).. N ¥ Central(8).. N Y C&StL(6). NY C StL pf(6). NYNH&H (2). NY NH&H pf7) N Y Unt&Westn. Norfolk South.. Norf & Wn(t10) NorAm b10%stk North Am pf(3). North Pac(5). Nor Pac efs(5) Norwalk Tire... 0il Well Supply. Omnibus. ...... OvpmCollins(f4) Otis Elevatr {8. Qtis Steel. . . Outlet Co(4) Owens Bot(ct4) Pacific Gas(2). . Pac Lightg (3). Pac OiiStubs. .. Packard M 15%. Pan-Am Petroim Pan-Amer Pet B Panhandle. ... Paramount-F-L Park & Tilt13).. Park Utah(80c) . vathe EX. .. Pathe Ex(A) Patino M(2,92).. Peeriess Motor. . Penick & Ford. . Penn C&Coke. .. Penn Dixie Cmt. Penn R R(3%) Peoria & East. Pere Marq(18) Pere Marq pf. Phila& RC & % | Phil Morris(1).. PhillipsPet(1%) Pierce-Ariow pf Pierce Oil. Pillsbury (12.1 PortoRicoTobB. Postal T&C pf 7. Postum (3) Pressed Stl Pr Stl Car pf(7 Produ & Refinr: Pub Serv NJ(2 Pub Serv pf(6) Pub § NJ pf(7) Pullman Co(4) Punta Aleg Su Pure Uil (1) Purity Bak(3 Radio Corp..... RadioCo pf(3%) ReadingRy(4). . Reading 2d(2 Real Silk Ho: % | Remingtn-Raud. Rem-Rd 1st(7).. Reo Mot (11%). Rep 1 &S(4).... Reynolds Spngs. ReynidsTobB(5) g3 | RhineWI(1.92). Richtield O11¢2). R Rutland pf St Jos Leaa\13). StL & San¥(18). StL&Sank pf(6) StL&Southwest. Savage Arms(2) Schulte (J8%). . Sears-Roe(32%) Shell Un(1.40). Shubert The(5). Simmons Co(3) Snider Pkg pf. So PoRicS {21 South Calif Ed.. South Dairfes A. South Dairies B. South Pac(6). South Ry(8).. South Ry pf(5). Spang Chalfnt. Spicer Mfg. . Spiegel Co (3) Std Com To(f1). StdG&E (3%). Std G & Epf4). Std Miiling(5). . $td O of Cal(}3) LdOIINI (113). StdO:INY(1.60). Std Plate Glass. StdSanPro(1.68) Staniey Co...... Stewart-War(6) Strom Car(2)... Studetaker(5).. Submarine Boat. Sun Ofl (g1) Superior Oil. Superior Steel. Sweets of Amer. Symington...... Symington Cl A. Telantogh(80e) . Tenn Copper(1). Texas Corpn(3). TexasGul{Sul(4) Texas & Pac(5). Tex Pac C & Oil. Tex Ld Tr(new) Thatcher Mfg. .. Thatchr pf 3.60. . The Fair(2.40) Third Avenu: Thomp J R(3.60) Tidewater AsOil TIAWASOilpf(6) TidewatrO(80c) Tide W Ofl pf15) Timken R B(6). Tobac Prod (8). ‘Tobac Prod A(7) Transcont Oil... ; | Trico Prod(23%) Truscon Steel. ., T'win City RaTr. Undwd-E1l F (4) Un O11 Cal\2). Union Fac(10) Un Pacific pf(4 US CIP 15t 1.20. U 8 Mistributing U S Distrib pf(7) U S Hoffman (4). U 8 Alcohol (6) ... U 8 Alchohol rts U S Leather. 8 Leather s s S Tub 1st pi U S Smelt(3% U 8 Steel(7). U 8 Steel pf(7).. Uhi Leaf Tob(3) Univ Pipe & Rad Util P&L A(e2). Vanadium (14). Vick Chem(4)... Victor Talkg(4). Va-Caro Chem. . Vir-CarCh pf(§) Va-Car Ch pf(7) Vivaudou Co. Wabash. waldorf| Walworth(1.: Ward Baking \Varner Bros Pic Warner Pic A. Warner-Qu(z).. [ u u u NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Open. High. Low. Cloge. 89% 90! 51% 116% 93% 22 170 115% 16% 43% 89 51% 114% 93% 22 167 115 174% 97% 1 1 1 1 120% % 28 108 36% 55% 120 43% 3% 128 348 34w 42% 183% 129 48 67% 112% 27% 105% 122% 278% 56% 13 104% 16% 132% 131% 43% 4% 52% 28% 91 28% 85% 12 154% 524 53 129 1 129% 1. 43 14% 6 22 67 15 74% 29 29% 43 “| sources which do not report to the STOCK PRICES SOAR INRECORD TRADING Bull Market Rolls Up Tremen- dous Volume of Sales in Morning. BY GEORGE T. HUGHES. Special Dispaten to The'Star. NEW YORK, November 16.—Throw- ing aside every semblance of restraint, ‘Wall Street this morning plunged into the maddest speculative orgy yet seen in all the greatest bull-market in his- tory. The present generation of traders | has never witnessed an opening com- parable to that of today. For size of blocks which changed hands and for the extent of tie opening gains it was unique. T 15 minutes after the gong rang 590,000 shares had been bought and sold. In the first half hour the trading totaled 893,000 shares. At 11 o'clock the sum was 1,424,200 shares The records of the Stock Exchange show nothing to equal this volume in the first 3 hn%he facilities for trading were taxed to the utmost. A few examples will suf- fice for illustration. The opening sale in Packard was of 10,000 shares at 1147, | against the previous close of 109%5. The transaction was effected only after the Stock Exchange committee had estab- lished an opening price. There were buying orders for 30,000 shares and of- ferings of only 10.000 shares. Mont- gomery Ward on a block of 2,000 shares was up 10 points. Bethiehem Steel gained 315 -points on 10,000 shares. Greene Cananea jumped over 7 points on 8,000 shares. Sears-Roebuck ad- vanced more than 8 points on 10,000 shares. Westinghouse Electric was up nearly 5 points on 10,000 shares. Railroad stocks were not far behind industrials. Atchison, starting in only fractionally higher, crossed 200 in vol- ume to the highest price in the history of the road only a few minutes later. Subsequently it added 3 points more to the gain. New York Central ran up nearly 3 voints. Union Pacific, Nor- folk & Western and other seasoned dividend payers responded more or less. United States Steel made a new high on the first sale, but thereafter during the first half of the session made little further progress. General Mofors, sell- ing ex the regular $1.25 ond the extra $2.50 dividends, lagged behind. On the other hand, Packard not only main- tained its initial advance, but in- eransed it. The others alreadv mentioned for the most part raceded slightly under realiz- ing. The one and only explanation of- fored for the mch to buy stocks was the unexpectedly small increase in brokers' loans shown in the Fed-ral re- serve comoilation made public after the close yesterday afternoon. This was much the smallest increase of any dur- ing the currsnt upward movement. Va- rious reasons were suggested for the moderate gain. One was that funds were coming into the market from Federal reserve. Another was that traders had been selling General Mo- tors old and buying the new, on which no cash payment is nocessary. What- ever the real cause, speculators were satisfied with the fact. They took it to mean license to go as far as they liked. Copper stocks were prominent all day. Anaconda and Andes were the favorites. Anaconda sold above $100 a share, the highest price since 1916. Andes at 46 was up over 2 voints and at the best since listing. The other active shares FINANCIAT. STOCK GAINS LAID TO PUBLIC INTEREST Special Dispatch to The Star. NEW YORK, November 16.—Six peo- ple, four of whom were women, walked into the office o‘d-ls';ee‘d' ::;ork su:cck Exchange firm an open ac- counts. All of them presented pass books on savings banks which were to be drawn on for the required mar- gins. Other houses report similar ex- periences in the last few weeks. This is a repetition of what happened last Spring during the violent market move- ments of that period. Since election the public that had not already been in the market had been excited and its desire for a part of the profits that others were making has been stimulated by the succession of 5,000,000-share sessions and the extraor- dinary advances that have been taking place in well known stocks and in scores of low-priced specialties. This has led not only to the withdrawing of savings bank deposits, but to sales of bonds in order to provide funds for speculation, and in some cases to the mortgaging of real estate for the same urpose. u In April and May the withdrawals i ittt UNLIMITED AR from the savings banks in Greater New York exceeded deposits by approxi- mately $25,000,000. sw‘ deal of this Teatigesions today i was learried that inves y during September _deposits = exceeded withdrawals. In October the reverse was true, but since November 1 there has been an outward movement .of funds that seems likely to overbalance deposits this month. Evidence of the same sort comes from other sections of the country, espe- cially the West and the Pacific Coast, where the public interest in the market exceeds that of last Spring and is re- sponsible for a considerable part of the activity on the New York Stock Exchange as well as on local exchanges. As proof of the widespread interest 12 the American market, one Néw -Yor house today received an order for 10,000 shares of stock from a client in South Africa. Orders from London, Paris Amsterdam, Berlin and from the finan- cial centers of Switzerland and l'll{‘ to say nothing of South American capi- tals, have been pouring into this mar- ket for weeks. New Building Planned. NEW YORK, November 16 (#).—Au- burn Automobile Co. of Auburn, Ind Fun On Improved is asking bids on a new $250,000 engl neering building. T ? il mhlll“mm Real Nearb; Maryland Virginia and the District of Columbia For Periods of 3,5 or 10 Years Low Interest Rates and Charges BOSS=PHELPS Estate ml.umnuuw i Founded 199 1417 K St. Main 9300 Loan Correspondent John Hancock Mutual Life Insurance Co. > i i 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, Franed Ladies Room Reserved—Complete Trading Facilities HiH HIIH R T of the group went along. Wall Street Briefs Gold imports in the week ended No- 'vember ldp?;‘t‘lsd $9,888,000, of which $7,309,000 came from England and $2,- 500,000 from Argentina. Exports were $160,000, of which $100,000 went to Venezucla, $53.000 to Germahy and $7,000 to Mexico. An offering of 670,000 shares of Pa- cific Western Oil Corporation capital stock at $24 a share will be made today. The corporation will hold all capital stock' of the Pacific Western Oil Co. which is acquiring most of th2 oil roperties of E. L. Doheny and his anny of Los Angeles. Net income of the International Rail- ways: of -Central America in the past 10 months totaled $2,866,809, compared to $2,197,148 in the corresponding 1927 pe: Stockholders of the Mohawk Rubber Co. of Akron, Ohio, have approved the proposed increase in capital stock from 35,000 to 150,000 no-par shares to pay a 300 per cent stock dividend. Sears, Roebuck & Co. of Chicago has bought for $2,000,000 the former W. L. Milner Department Store Building, in Toledo, for a retail store. put over September was the outstand- ing feature of the bituminous coal markets of the country last month, Coal Age reports. The weighted average spot price for October was $1.87 per ton, f. 0. b. mines, against $1.81 in : September. Stockholders of the Murray Corpora- tion of America have approved the rroposed changes involving an increase n capital stock to 800,000 shares of no-par value from 300,000 shares. It is proposed: to issue 269,300 shares to stockholders at $15 a share in ratio of one share for every share held on No- vember 16. Rights expire December 20. The proceeds will be used to retire the funded debt. General American Tank Car Cor- poration of New York and Chicago was reported in Wall Street to have ap- proved a plan for redeeming the en- tire issue of 77,527 shares of 7 per cent preferred stock without recourse to ad- | ditional financing, or increasing com- mon_shares. —_— Open. Hich. Warren F&Pipe. 33 Web & Hell. West Dairy B. .. West Maryland. West Pacific. .. West Union(8) Westhse A B(2), Westinghse(4). . Weston Electric. Weston A(2)... White Eagle(2). White Mot (1 WhitRek cfs White Sew Much Wilcox Oll & G... Willys Ov(1.20). Wilson & Co.... Wilson Co pf A Wilson & Co ptf. Woolworth(5). . Worthn Pump. . Worth Pump(A) Worth Pumn(B) Wright Aero(2). Wrigley (13%). Yale&Twne(t5) Yellow Truck Young Spring. 55% 56 Youngstn Sh(5). 99 100% ‘' 99 100% Hourly Sales on' N. ¥. Market. 1la.m. 1,800,200 12 m...2171,400 1p.m. 2982100 2 p.m. 3,908,800 Dividend et St e o syt all mit of trading less than § Blus 4%, Thfe vearno resulsy rate us 5% in stock 4 Pa W g United 1%% in share _au: ble 1/10 shate ausrterly Nores common stock. B Pl JOHN JOY EDSON, President Organized Assets ... Equitable Co-Operative Building Ass’n WALTER S. PRATT, Jr, Secretary 1879 48th YEAR CO; TE! $5,513,051.63 Surplus & Profits. $1,601,704.98 " Subscription for the 96th Issue of Stock Being Received Save Systematically in the Equitable No matter what you are saving for'. . . a liome, old age, your chil- dren’s education . you'll find the Eg table’s systematic s ings plan a great help. Start NOW and watch it grow. 915 F Street T Your savings will ac- cumulate more rapidly if deposited in the Equi- table's systematic plan of Come in and let us explain about the plan. ] 70,000 Sq. Ft. of Floor Space One-half square from Connecticut Avenue Suitable for Garage, Storage Rooms or Warehouse '‘HIS valuable 4-story business building has two freight elevators. It is offered at an unusually low price and presents an exceptionally good investment. to inspect—phone Main 5027 023 NewYork, Ave. d REALTOR 1237 Wi:e';min Ave. A SAFE INVESTMENT Meets Your Individual Requirements ECAUSE Shannon & Luchs Mort- gage Notes are secured by prop- erties located in the better residential and business sections of Washington it is possible for you to invest in a lo- cation and a type of improved proper- ty which meets the individual require- ments of your good judgment—and al- ways with the greatest confidence as to the safety and payment of both interest and principal. We_are offering, subject to prior sale, a few selected motes secured by most desirable small- er individual homes and business propes Issued in denominations of $100, 5250, 5500 and :;:00 for a 3-ycar term—Bearing Interest at NON- & LUCH First Mortdage Tnvestments Telephone: Main 2345 1435 K Street, Northwest Which