Evening Star Newspaper, November 16, 1928, Page 15

FIN CONVERTIBLE BOND ISSUES IN ADVANCE Andes Copper and Fiat in| Limelight After Big Gains of Yesterday. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, November 16.— The spirit of the stock market was expressed today in half a dozen convertible bonds, which registered the sharpest advances in the long period of rising prices. The sensational features were Andes | Copper 7s and Fiat 7s. Andes 7s, after a 12-point rise yesterday, extended this 10 points more and sold during the first hour of business as high as 200. They have gone up 31 points this week, in- fiuencing the rise on the stock into which they are convertible until Jan- uary 1, frcm 37 to above 46. Strong efforts are being made to forte con- version. Fiat 7s were not so active as Andes s, but had a larger opening gain and eventually showed a net advance of over 10 points. Prelll 7s rose about 3 points and Monticatini 7s 1> points. Anaconda Copper 78 were 2% points higher, J. Kayser 5s 3 points, with gains of a point to 1% points distributed through the list of the ofl convertibles except Simms 6s, which were reac- tionary. The rest of the market was over- shadowed by these speculative move- ments and did not show much change. In fact, some of the high-grade rail- road mortgages were fractionally lower. This was also true of the high-grade industrials and public utilities. Public Service of New Jersey 4Yas followed the convertible group, with a rise of over 3 points. The junior rails were slightly better. ‘The large volume of financing this week was due mainly to issues of stocks which exceeded the total of capital raised on bonds, the latter amounting to $57,000,000. Much interest was shown today in the offering of $9,500,000 five- year 6 per cent notes of the Huntington Estate-_ This is the first attempt ever made to raise by public subscription sufficient funds to pay the and Stete inheritance taxes of an im t estate which found itself with cient cash to meet these obligations. ‘The issue of a large block of North German Lloyd common stock is another effort to establish an American market for the shares of strong foreign corpora- tions. This company has already bor- rowed $20,000,000 here in dollar form. Other German, Scandinavian, Dutch and French steamship concerns have, also been borrowers in the United States. < “ Washington Stock Exchange| SALES. Capital Traction 55—$500 at 102!5. Wu?gnmn Gas 65 “A"—$1,500 10515. Washington Gas 6s “B"—$500 at 107%. Wi th;ggwn Rwy. & Elec. 45—$1,000 Capital Traction Co.—3 at 10615. Chestnut Farms Dairy pfd.—10 at 109. Wl.:hlt‘l’lsxlwn Gas Light—10 at 103, 5 al % W;fi?,"'“:’“ Rwy. & Elec. pfd.—1¢ at District National Bank—10 at 238. Riggs National Bank warrants—90-265 at 320, 110-265 at 320. Nn;olgm.l Savings & Trust Co.—10 at Firemen's Insurance Co—50 at 38. Mergenthaler Linotype—10 at 1003, 10 at 100%, 10 at 100%. AFTER CALL. w“o?!ln;n Park Hotel 5l55—$1,000 at 10434 Mergenthaler Linotype—15 at 10035. ‘Washington Gas 6s “A”—$100 at 104. Chestnut Farms Dairy pfd.—3 at 108 Bank of Bethesda—15 at 71. ‘ashington Gas 6s “B"—$200 at 1051}, Potomac Electric 6% pfd.—7 at 118%. by UNLISTED DEPT. Park Savings Bank—10 at 60, 10 at 60. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Tel. & Telga. 4% Tel. & Telgs. 41 at L " Bid. Asked. Amer. Cavital Traction City & Suburban 5s. Geortetom W r.a}."?“‘“’ ton Wath "G e Wash. Ga. Barber & Ross, Inc.. § Chamberlzin-Vanderbilt rms. y’ Joint Stock Bk Wash. Mkt. Cold Storaee 3s... Wash. Cong, Title Co. ... ark Hotel 5ia% Wardman Park STOCKS. PUBLIC UTILITY. Amer. Tel. & Telgs Capital Traction Co Washington Gas.... .. Norfolk & Washingtcn. Potemac’ Elec. 6% pfd Fotomae Elec, 8% sh. Wash. R: B National Capits Solumbla ... ¥ Rome 63;s..... 8a0 Paulo 8s 1936. . Sao Paulo 1950. Saxon (PW) 7. Beine 7s 42. NCIAL. Lib 3%s... Lib 1st 438 Lib sth 4148 US3%s43. 60 2 Argentine Argentin Argentine §s Oc Argentine 5145 62 Argentine 65 A Argentine 6s B. Australia 433 56. . Australia 58 1955. . Australia 58 1957. ., Austria 7s. v Bank of Chile 63s. Belglum 6s Belgium 6%s. Belgium 78 1955. ., Belgium 7s 1956. .. Belgium 7%s... Belglum 8 Bolivia 8 Bordeaux 6 % Brazil 81581926 . Brazil 8181927, Brazil Is. Brazil 8s. Canada bs 1 Canada bs 1952 Canada 5% 81929, Chile 65 '60 Chile fs '81 Chile 751943, ..... Chinese Gov Ry is. Colombia 6s Jan'61. Con Pow Japan 7s. . Copenhagen 435 63 Copenhagen 58 ct. . Cuba 6%s. .. 2 Caecho 88 1952...... Denmark 6s. Dutch East I Dutch East 1 Finland 53%s. Finland s f 63 " Finland 7s. ... Framerican 7158 German 7s. Ger Am Bank 7 Ger Gen Elec is. Haitl 6s. .. Hungary 7igs. Irish Free Stat Italy 7s....... Italian Pub 8 7s. Japanese 4s. . Japanese 6%s. Lyon 6s....... Mexico 4510 asnt. Mexico bs asntd. Milan 63%s... Montevideo New So Wales 57s.. New So Wales 58s. Norway bs 1963 Norway 5%s. Norway 6s 1943 Norway 6s 1944 Norway 61551952, . Orient Dev deb 6s. . Paris-Ly-Med 6s. Paris-Ly-Med 7s... Peru6s67 wi Peru 7s.. Peru ;. Poland 6s 40. Poland 78 (rcts). Poland 8s. Prague 7% s Rhinelbe Un 7. RhineWst EP 6: Rio.de Janeiro 6%s. Rio Gr Do Sul 8 Soissons 6: Sweden 5% s Swiss 5348 1946.... Swiss Confed 8s.... Toho El Pow 7s ‘Tokio 5s..... Tokio 538 1961.... Utd Kingm 5%s 29, Utd Kingm 5%s 37. Uruguay 8s........ Yokohama 65 w i. .. AmAgriChem 7%s. Am Cotton Oil 5. . An Smit & R 1st 58, Am Sugar Ref 6s AmT&Tel trds AmT&T cl tr { Am Writ Paper 6s. . Anaconda 1st Armour&Co43:s 39 Armour Del 53%8. .. Bell Tel Pa 5s B. Bell Tel Pa 55 C. Beth Steel rf 5s. ... Beth Steel 53%s 53. Bethlehem Steel BKlyn Union 53s. . Bush Term Bldg 5s. Certain-Td5%srcts Chile Copper bs. ... Colon Oil 68°38. ... Col Gas&El deb Con Coal Md 1st 55, Con Gas N ¥ 5%8.. Consumers Pow 5. Cuba Cane cv 7s. Cuba Cane 8s...... Cuban Am Sug 8s.. Denver Gas 55. Dery (DG) 75..... Detroit Edison 6s. . Dodge 6s. . . Duquesne 435 67. . East Cuba Sug 7%s ¢ Commercial s gy 580 Riges warrants .."" 320 Second .7 Naticnal Bank ‘of : TRUST COMPANY. American Secur. & Trust Co.. Continental _Trust . 1 Merchants' Bank...... National Savings’ & ‘Trust nion Trust ashington Loan & Trist SAVINGS BANK. Bank of Bethesda ’ Commerce & ~Savings. East Washington otomac 40 Security Savings & Com. Seventh Street....... United States . . Washington Mechanics’ FIRE INSURANCE, 507 | 50 20 American ... —— s National Union : TITLE INSURANCE. AL EOte o o b so: 6 of Md Wash' Cons Title pid-.. s MISCELLANEOUS. Barber & Ross, In evy Ci Federal-American Oy Lanston_ Monotype. . & Storage. . Storage pid. . h Nat'l Mtge. & Inv. pld. Peoples Druz Store pfd. Boonts o aes D1 Sanitary Grocery Co. bl . Corp h: Stech. Mige”com S : h. Medical ‘lfll Carg ydward & Lothrop ofd.. -dividerd. ot Steel Prices Advanced. NEW YORK, November 16 (#).—Re- pubiic Iron & Bteel Co. of Youngstown has advanced finished steel prices $2 & ton and will advance prices on semi-fin- S et 55 & Fisk Rubber 8s.... Gen Mot Ac Cor 6s. Goodrich 6%s. Goodyear 5s rets. .. Hoe & Co 6%s..... Humble Oil 5: Humble O & R 5%s. Illinois Bell 1st 5s. . 1llinois Steel 4%s. . Indiana Steel 5s. . ., Inland Stl 47878, Intl Cement 5 48. . Intl Match 5s 47. Int Mer Marine 6 Int Paper 5s 47 Inter Paper 6s. . int Tel&Teleg 4%s. Kelly-Spring 8 Laclede 5s. , Laclede G 53486 Ligget&Myerssssl Lorillard 55. Lorillard (P) 7s... Louisv G & K 55 62. ManatiSug st 7%s. Mid-Con 635 40 Midvale Steel 55. .. Mont Power deb G Mor's&Co 1st 4%s. orth Am Edis 5s. Ohfo Tr & L 6s. or States Pow . States Pow cific Gas & Kl 58 PacT & T 1s Pac T &T bs Pan-Amer Pete 6% Paramount 6s 1947 Pathe Exchange 7s. PhilaCo 5867 wi.. Phila&ReadC&I 55. Philips Petro 635, Por Ric Am Tob 6: Posta) Tel & C 5% Pressd Steel Car 58 Punta Alegre 7s RemingtonAr ished steel. Average rate of production Rem Rnd 5%s war of heavy melting steel in the Youngs- | town area i 83 per cent of capacily, against 90 per cent a few weeks ago. . 11 101% 101% e 3 15, UNITED STATES. (Saies are in $1.000.) Sales. High. Low. 85 9926 15 100 30 56 1011 99 1 9 1 10424 11224 FOREIGN. Saies Hizh. Low. Olose. 25 18 9 22 5 4 9 9 6 15 21 6 2 12 6 43 [ 15 2 3 27 23 7 42 2 2 1 3 1 2 3 6 1 2 18 1 2 T 1 9 ¥ 7 1 34 97w 96% 97w 5 3 12 2 5 2 12 3 Netherlands 6s 5¢.. 10 100% 100% 100% 2 11 RITIN 1 b « 14 102% 102% 102% 9 6 - 13 99% 991 99y 7 104% 104 28 5 102% 102% 102% cevenes 11 10T% 107% 107% 9 29 20 2 7 104 13 RhineWst EP 65’53 24 94 RhineWst KP 79'50 5 101% 101% 101% 4 Rio de Jan 85 1946.. 13 106 1 108% 106% 106% ©13 925 92 1 106% 106% 106% + 21 108 107% 108 6 15 105% 105 17 8 14 104 3 104 1 110% 110% 110% 5 5 118% 118% 118% 6 105 Utd SteamCopen 6s 10 97% 97% 97% 5 7 MISCELLANEOUS. 5 1 8 5 1 Anaconda cv db 7s. 314 Andes Copper 7s. .. 893 5 23 Barnsdall 65 1940..113 3 12 15 83 2 16 1 42 5 18 15 c 1 3 ; ; 122 8 9 29 17 28 1 10 14 3 37 e 2 6 7 1 2 98% Public Service 4%s 1443166 3 19 10 - ___THE EVENING STAR., WASHINGTON. D. C. FRIDAY. NOVEMBER 16_19% NEW YORK CURB MARKET Received by Private Wire Direct to The Star Ofice Sinclair Oil 7s..... 22 Sinclair Crude 6138, 17 Sin Pipe Line 5s Skelly Ofl 534, South Bell Te) 5s. .. So Por Rico Sug 78. Southwest Bell 58.. 2 Stand Oil N J 5s 48,127 SugarkstOriente7s. 5 TennElecPow 6s 47 Transcontl Oil 6155 United Drug 5s 53 U S Rub 1st rf 55, .. US Rub 73 U S Steel s £ 5. Vertientes Sug Ts. Warner Sug 7s 4 West Elec 58. Westn Union 58 51. Close, 9917 9926 10026 100 30 10028 1011 9911 9911 9914 9914 104 24 10424 1 1 10 2 99% 100 961 96% 100% 100 100 100 99% 99% 88% 88% 88% 96% 96% 96% 96% 96 96% 108 102% 108 % 9T 9TH 101 100% 101 106 105% 106 108 107% 108 106 105% 105% 115% 115% 115% 110 110 110 106 105% 106 100% 100% 1004 96l 96 96'% 6% 964 96% 100% 100 100 108% 108 108% 1003 100% 1005 1047 104% 1047 100% 100% 100% 93 93 93 98 930 o3 1o 1oavs | B & O Toledo 45 o 97 Y37 '35 " |Bang & Aroos 4s 5. 91 90% 90% 98% 98% 98% 89 89% 89 96l 96% 96% 102% 102% 102% 109% 109% 109% 104% 104% 104% 103% 108% 103% 103% 103% 103% 91 91 964 96 96 1004 100 100 1064 105% 106% 107% 107% 1074 114% 114 114 9415 941 941 WinRepeatAr 7%s. Yngstn S&T Sswi. 37 Atchison adj 4s.... 3 Atchuson gen 4s Atlantic C L, 1st 45, Atlantic C Lol 4s. . Atlantic CL 47,5 84 AUl & Dan 2d 45 45, B &OGold 1s, . B&Ocv4lis, B&Oref s So~SonSanaul @ - Buff R & Pitt 4Y%s. Can Nat 4% s 30 Can Nat 4148 b Can Nor 4% s 19. Canad North 6%s Canad North 7s. Canad Pac deb 4s. Can Pac 4%s 46. reEnuZanSlatannst NERE~N Chesa Corp bs w i Ches & O cv 4, {<hi Gt West 4 CM&StPgnsy. ChiM&StP4155C89. CM&BEP ret 445 CMSP&Pacadjss03 Chi & NW 6%s. Chi & NW 7. 100 102% 102 100 102 96% 96% 963 96% 963 96% 92% 2% 92y 101% 101% 101%% 100 100 100 23 23 23 36 36 36 9% 91 91 102 101% 102 ChiTH&S E bs. Chi T H inc 6s 60, Chi Un Sta 4 94% 943 945 | C1i Union St 98% 93% 93% 94 97y | ¢ 101 100% 100% Colo & Sou 43s. ... Cuba Nor 545 ets. . Del & Hud Den & Rio 102% 102% 102% 102% 102% 102% 98% 98 98 Tam mmoeRea 104 9% 91 x . 34| Det United 43%e. ... rie 18t cons 4. Erie conv 4s A 84! 3 8 e o Erieconv 4s B. 88 87T 88 99% 99% 99% 105% 105% 105% 104 104 1% 9% 9% 93% 94 @ RrakS okmorrac mawmSeven Ervie Genessee R 65, Erie & Jersey 6s. .. Erie (Pa) clt tr 4s Fla East C5s 74 Gr Trunk stdb 6s.. Grand Trunk 7s. . Great North 5s Great North 538, Great Nor gen 7s... Hav El Ry 58 b Hud & Man aj 58 Hud & Man ref 58. Tl Cent ref 4s, Tii Cent 45,5 66.... 111 Cent Chi 4138 11-C-C-StL&NO bs. Int Rapid Tran 5s.. Int Rap Tr bs stpd Int Rapid Tran Int Rap Trans 7s. Int&GtNor adj 6s 5: Int Ry C Am 6s 41.. Int Ry C A 6%s rct. Kan City Term 4s. . Lake Shore 4s 31 Lehigh Val ¢n 4s. Lehigh Val 58 2003. Louis & Nash 7s... Man Ry 1st 48 90. Market St 7s 40. ... Mil El Ry & T. 58 61 M StP&SSM cn bs.. MStP&SSMo38gtd. M St P & SSM 5338, 108 107% 108 |M StP & SSM 6%s. MK&TI1st4s..... % 87 [MK&T4sB. 105% 1054 105% | M K & T adj 5s.... 171 158 170% (MK & Tprinbs A, 202% 195 202% | Mo Pacific gen 4s. . 93% 93 93 | Mo Pac5s A 65. 92% 91% 91% | Mo Pac 58 F' 77.... 149% 146% 146% | Mob & Ohio 4355 77. 106% 106% 106l { Mont Trm ref 5s 41. 110 110 110 |NOTex&MssA.. 101% 101% 101% | N Tex & M oo B {3?% ::’:f;f: }22'% N Y Cen gen 3%s.. 4% 335 Bog® S0A% [N Y Cent 4s 98 103 102% 1 88 87 { 967 961 96141 110 1073 109% 100% 100% 100% 8% 81 8% 106 105% 1061 1045 104% 10438 3% 3% 73% 5% 75 15 103% 103% 103% 99% 991, 99% 8% 73% 734 108% 1073 108% 105 104 106 100% 100% 100% 9% 915 91% 13 112% 112% 103 102% 103 107% 107% 107% 93% 931 934 92V 92% 92y 100% 100% 100% 102 102 102 104% 104% 104% 99 991 991 104% 104% 104% 94 983, 93y | 104% 104 104% 99% 99 99u 1024 102 102 96 95 95% 98% 98 O 9% 96% 97w 128 123 128 95% 95% 951 106 106 9245 99% 991 99% 105 92 9% 92 98% 984 98y 104 104 103% 1038% Ty 99% 99% 99y 79 90% @ A-SSuexe ®=00 mumRama 1045% 105 108 108 108 95% 9% 95% o 105 104% 105 98% 9815 9814 100% 100% 100% 104% 104 104 99% 99% 9915 104% 104% 1043 106% 106 106 YChi&StL 614 sA. NYC&StLEsA New Haven 4s 56 NY NH&H clt 6s. NY NH&H cv db 6s. NY O&W gen 4 . NYW&B4% Nor Pac 35 2047. Northern Pacific 4 Northern Pac r i 6; Ore Short L rfs 4s. Ore Wash 1st 4s. .. Pennsyl con 4% Pennsyl gen 4%s. . Penna R R 4%5'63. Pennsyl gen bs. Pennsyl 55 84. Pennsyl 6%s. .. Pennsyl gold 7s Peo & B 1t 45 40. Pere Marq 1st 58, PCC&StL s B 7 Portland Bl P L Reading gen 4% A Reading J C 4851, . [R1ATK & 1 4%s. .. St L IM&S R&G 48. SUL IM&S gn 58 31. StL&SFplés A StL&SFritsTs., SiL&SF5s%sD.. StLS W con 4s 32. 4| St P Un Dep v 104% 104% 10415 | San A& Arn P 4s... 102% 1021 1021 | Seaboard AL 48 sta. 85% 86% 861 |Seab A L retds.... 106% 106 106% | SeabAL adj s 1949. 108% 103% 103% | Seab A L con 6s. ... 961 95% 96 |S B AllFla6s35A. 106% 105 105% | Sou Pac 45 29. 100% 99% 993 | Sou Pac clt 4s. 102 10135 1011% | Sou Pacific ref 4 875 87% 873 | Sou Pac 4%s ret 105 105 | Sou Ry gen 45 116% 116 ou Ry Con 58 951 9BV Sou Ry 6%x. 1074 107% 1071 | TeXArk FS 5 ! 101% 101% 1011 | Third Ave ref 45 60, 108 1075 1075 | Third Ave adj bs.. 100% 100t 1001, | T01 Tr L&l 5128 30. 103103 103 | Union Pac 1st 4s. 1013 101% 101% | Union Pacific 48 6 105 105 105 | (/nion Pac 4% 87 108% 103 108 | Virginia Ry 18t 58 103% 102% 102% 105% 105% 105% 106 106 108 100% 100% 100% 7 99% 1% 94% 98% 96% 9% 169% 94% 94 915 991, 94% 931 10kg 101 9e% 991, © AN E-BERERE Y L ABNBINND =S RSB e 1 @ &a 34 8 4 52 6 1 = .15 H 8 1 o 94% | Western Pacific 5s. 99 | West Shore 4s 2361. 96% | Wilks-B & El 1st 58 98Y 166% 941 101 Sales. [ o BONDS o v Received by Private Wire Direct to The Star Office High, Low. Close. 103 Y 95 107% 97 106 103% 103 104% 102% 101% 107% 100% 107% 101 RAILROAD. 891 89% 9 1024 101 99% 108% 104 110% 102% 874 105 109% 102 99% 933 9% 954y 100 89% 891y 1121 1227 103% 66% 6413 1000 100% 95 8914 104% 1044 83 83 101% 99% 101 100% 90 90 0% 0% 103 98 9614 9l 104 105% 1045 1027 98 106% 1041 97y B9 100% 107% 97 106 103% 103 104% 102% 101% 107% 100% 85 | Profits. 100% 95 8914 Other new financing includes 20,000 | Bjfind O 9914 | Class A shares of Cypress Petroleum' Co. 931, of California at $3250 a share and| 60,000 shares of Moody’s Investors Serv- | yni carbon 7% pf..353.50 BA Jan. 994, ice of New York participating no-par l.cn.nfi 101l Dpreference stock at §52 & share, {Market Sweeps Forward in SPECULATIE CURB FAVGRTES INGAN Sympathy With Advances on Stock Exchange. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, November 16.—Although the volume of business was not com- parable to the Stock Exchange total, today’s Curb Market favorites were! swept forward in the speculative frenzy which gripped Wall Street. There Was no saneness to the un- bridled upbidding of selected {ssues, which reflected nothing more than a desire on the part of the speculative element to follow the line of least re- sistance in the hope of acquiring quick While the total volume of transactions for the first two hours was less than half that executed on the big board, it marked up a new high record for curb trading for any similar period. The actual total was 1,109,300 for the first half session, the first time in history of the institution that more than 1,000,000 shares had been trans- ac?g in Jmt;;lx session. e u les were especially favored. United Gas & Improvement crossing 172 recorded a gain of more than 8 oints. Northwestern Power after open- Ing on a block of 14,600 shares at 5233 changed hands at 54, up 4 points from yesterday's close, while Electric Bond & Share Securities at 140 was up a like amount. All were at new high prices. In the oil group Humble Ofl up al- ts, Ohlo Oil 2 points higher most 8 poin and Standard of Indiana up more than @ point were the tavorites, also at their best prices so far established. Gains of 1 point and more were common in other members of the group. The spectacular Rainbow Luminous appeared to have settled down around | the 60 level. Nevertheless, it continued to move over a ras of 5 points. St. Regis Paper shol forward to a new peak around 140, where it was some 4 points higher on the day. , Others that reached their best prices included Hazeltine Corporation, U. S, Foil, Blumenthal, ‘the comparatively new Keystone Alrer: - Br;:en-l;und. aft and Niles. e mining issues followed the sa; group on the Stock Exchange. Hud::;; Bay once more came into prominence, crossing the 20 level for a gain of more than 2 points. Shattuck Den, New- mont and New Jersey Zinc were also in demand. COTTON IS STEADY IN EARLY DEALINGS Slight Advance Scored at Open- ing on Firmness at Liverpool. By the Associated Press. NEW YORK, November 16.—The cotton market opened steady at an ad- vance of 5 to 7 points on trade buying and covering promoted by the fairly steady showing of Liverpool and re- newed talk of a strong statistical po- sition for American cotton as a season- long proposition. The bulge met some Southern selling and realizing, which caused setbacks of a few points, but the selling was not active and prices ?:fi.ne: ‘:%o lultl‘;ly 'v;ma; wcmve months ts her " at the end of the first half hourl.“'hslvnte cables reported that local buying and trade calling had absorbed hedging and some Bombay selling in the Liverpool market, but that market for cotton yarns and cloths was quleter, with buy- ers_cautious. The early advance extended to 19.65 for December and 19.60 for March, or 8 to 10 points above yesterday's closing quotations. It was checked by increased offerings and the market became quiet late in the morning, with prices show- ing reactions of 4 or 5 points from the x‘);:t under Southern selling and realiz- SHORT-TERM SECURITIES. (Reported by J & W. Seligman & Co.) Co. 8s 1037 . Piyu, 06T Co. of Amer. 55 1982 101, . Ql' 1929. 9914 Corp. E ell Union Oii Co. 5s 1947 . Sinclair Cruda Oil ‘5128 1938, Sou. Pac. R. R. 45 1929.... ... Standard’ Oll N. Jersey 85 ifdé 10 Sk Jr Mt & So Ry, €5 1920 1948 104 048 1013, W hemishid ey TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) 15, A 18, 1 18, 15, 15, 15, 18, 99 21 99 30-32 100 s Ju 5 Bept. 4% 4%l 135 Mar. 20-3: 97 30:33 108 1%53" 9 9 972833 98 DIVIDENDS. Regular. Pe- i Hidrs. of 0 Company. Focorg, Dec. 5. Adams Ex B Do. »f Do. 1st . Chesebrouh M s ol retas ol Sol\ Africi o B jauitable A ult Office Bldg. FEEERREEETY 29%% % ) 55 Federal Pw HE Importers & Exp Ins (N V) Z : © >00000° OOEOOOTITOO ©OOL o, Sa2 5323 of s # Metropol ‘Pav Brk... o A Nat Lead Do “pi B Prophylactic St Reeis Pa Solar Reéfining Spec Shares' Corp 0. Df A 5 oy L 5 B pf. per! g s 3 45 B il Texas Guit Sul alty & 1mp. . Valvoline 01{,‘, > Atlantic C L an. 1,50 Ex Dec 30c Ex Dec. 4.00 Ex Dec, A olan: M Eello Tle Gregm. 1 Nov. ui t. .. 3150 Ex ;81,00 Ex Dec. 12%5c¢ Ex Dec x Dec. g i P T Tnitial. Wire Midvale Oo.,. 8¢ Q Jen. Following is a list of stocks and bonds traded in on the New York Curb Market today: Sales in hundreds. 12 Acoustic Prod ML xd. 4 Anchor Pot Féns 12 Brit-Celanese 2Bkln Cliy R vi 128 Freshman Chas Ereshman Ghas nv do'its . 4 Gen Am ach . 38 5 eafter Pen .. orsky Aviation & Lo e ndreds. ! ) 2 Carnegie Metals & Drain Ohio Cop’ 10 Bremter Gold M. 3 Roan_ Antelope Cop. | Denn [ 4 Wendon Sales INDEPENDENT OIL in hundreds. 30 Am Con Oilfids. 142 Am_Maracaibo 182 Barnsd deb rts. 2 Brit-Am _Oil ne Magdal 8ynd § Metico Ohio BN Y Pet 10 Northwest 51 Bacific W R&l st Ofl Wil dem Oil . T 5t 9 Venezuelan Pet Sales in units. A A O nop vtc. Chesbrgh 100 e 1% O & R. Can. .. 2 6600 Ohio Ol 100 Penn, Mex e 508 O Ohlo. 108 O Ohlo Tld. 4700 Vacuum Ol . BONDS." Sales in thousands. Straus 8%s wi 1%? At PR s 2" INDUSTRIALS. Hiel P nwe 22Z sogm o 5232252553 #, EL £33 s F = 3 12% 65.” J Hs 9 i 1 a2 54 82 450 451 36% 36% 53 3, a5 Ea S S BB ase T Mt Boi2885388282, SEEESEE MINING STOCKS. STOCKS. 18% 18 145 8 41, | Potatoes, white, 100" pounds. 758100; H 1 275, 131 3 35! 1 i Ifl‘: 46 546 1! 24t 200! #2REESST 2 3300599999 B B e wr o B 007! ; B 96 % 04% [ a Neb L & P 55 A [ 1 1 1 6 Narra; WHEAT GOES HIGHER PINANCTAD.' ON INITIAL TRADES Reports of Good Demand From British Millers Cause Price Gains. By the Associated Press CHICAGO, November 16.—Influenced by firmness of Liverpool wheat quota- tions and by reports of good demand from British millers, the wheat market here averaged higher early today. Wheat price upturns were in the face jof reports that Argentine weather is now generally dry and favorable. Open- ing unchanged to 1, up, Chicago wheat later advanced all around. Corn was strong, starting i to % higher and subsequently scoring decided additional gains. Oats were firm. Provisions also tended upgrade. i Comparative dearth of selling pres- sure at times today in the wheat mar- ket here gave mcre effect than usual to action of Liverpool prices, which in turn were said to be reflecting better milling demand abroad. Meanwhile talk was current in some quarters here that (] 6 Nath Strauss nc 6. 124 4N Py (] ub Serv 38 ! *a<s B oo = V0, R egtia., =5 eR zey So 13 x T % B 1N Sales in FOREIGN BONDS. 1 Adriatic Elec 7 Bank Prussia 6s. 2 Berlin 65 . & Bolivia 15 1Buenos Aires 73 ‘53 5 Buenos Alres Tlas. 1Cauca_Valley 7s.. .. 891 & W RR 5 Hanover State 2Indt M_Bk Finld 32 Isotta Fraschini X 90 1 Warsa: 86% xd—Ex-dividend ‘When issued. n—New. Ww—With warrants. 9 51 | Special Dispatch to The Star. BALTIMORE, Md., November 16.— 1y | sweet potatoes, barrel, 1.50a2.75; 50a1.15; yams, barrel, 2.15a2.75; beans, bushel, 3.50a4.50; beets, 100, 4,0085.00; broccolf, bushel, 80a75; Brussel sprouts, 0; cabl . 100, 2.5085.50; 100, 4.00a6.00; celery, crate, 125a2.50; caulifiower, crate, 1.75a2.50; kale, bushel, 50a60; lettuce, bushel, 75a 1.50; onions, 100 pounds, 1.25a4.00; oyster plants, 100, 6.00a7.00; parsnips, basket, 50a60; peppers, basket, 40a60; }f; pumpkins, 100, 8.00220.00; spinach, bushel, 50a75; tomatoes, crate, 2.50a 0% | 3.00; turnips, basket, 25a40; savoy cab- %0, | bage, bushel, 90a1.15; apples, bushel, 175a2.00; cranberries, box, 3.00a4.75; grapes, basket, - 40a50; pears, bushel, ; grapefruit, box, 2.25a4.25: oranges, box, 2.50a5.00; kiefer pears, 47 | basket, 20a35. Hay and Grain Prices. Wheat—No. 2 red Winter, garlicky, spot, 1.33';; November delivery, 1.331:. Corn—No. 2. export, December de- lvery, 96%: No. 2, domestic, yellow, 1.00a1.01; cob cofn, 4.25a4.50 per barrel. Oats—No. 2, white domestic, spot, 54 a55; No. 3, white, domestic, spot, 52a53. Rye—Nearby, 1.10a1.20. Hay—Receipts, 12 tons. While hay is arriving here in limited quantities 3 7 4 7 9% 51, T4 55 jonly, it is more than ample for the 10° 0% | demand, which is being supplied most- ly by truck from nearby points, few car- loads being received. There is not enough business passing to establish es on the various kinds and grades, and all arrivals sell strictly on merit at a range of 16.00a18.50 per ton for timothy and clover hay. Straw—No. 1 wheat, 11.00a12.00 per ton; No. 1 oat, 12.00a13.00 per ton. Dairy Market. Poultry, live—Young turkeys, pound, 46a46; old, 35a40; Spring chickens, 20 829; Leghorns, 20a27; old hens, 23a29; Leghorns, 20; small and poor, 18; old Toosters, 16a20; ducks, 22a25; small and old, 18a20; geese, 20a25; guinea fowl, each, 40a80; pigeons, pair, 30. Receipts, 400 cases; native and nearby selected whites, free cases, doz- en, 52; firsts, 47a48; current receipts, 42045, Butter—Good and fancy creamery, pound, 46a52; prints, 52a54; blocks, 50a 52; ladles, 35a38; store packed, 34; process butter, 43a44. Commodity Notes Poultry. SAN FRANCISCO, November 16.— The contract signed by San Francisco for turkeys for city and county insti- tutions on Thanksgiving was at 42.9 '!5*. cenis, a price 3 cents a pound under .38 that of 1927. This 1eflects the larger 23" | erop of birds on the Coast. 27% 11 zlf‘: 3 18% T &fi%fi‘%@afllkxl&?&flafi?xr. : s 145 4 10 95 Tee. DETROIT.—Manufacturers of arti- flcial ice here report a steadily in- creasing business so far this year and forecast sales for the year totaling $8,500,000, despite the hnvi purchases of electric refrigerators by the public. Tobacco. MADISON, Wis—The tobacco yield of Wisconsin, which is becoming more and more a factor in the tobacco in- 13, | dustry, showed a gain this year of 40 254s | per cent over the 1927 crop, reaching a 743 | total of 46,000,000 pounds. a 21! 1 1 85 i 11 1 6 . 86% 174 "l)gh working day and night. 1 100 $ %z; il b | 4l 5 8 5 Radio. YORK, Pa.—Makers of radio cabinets and other radio equipment here are One company has just put on a night shift to meet| the demand for radio cabinets for the holiday trade. * Corn. ‘TOPEKA —The Kansas corn P now is placed at 181,521,000 bushels, or & yleld 148,000 bushels larger than was recorded in 1927, 1 i 905 i $1,000,000 for Advertising. NEW YORK, November 16 (4)—Di~ "2 tectors of the Celotex Co. of Chicago at their dividend meeting appropriated $1,000,000 next year's advertising campaiga. Y | East over rates prevailing at Pittsburgh prompt farm relief measures could easily stimulate enough buying ¢o ad- il ININDUSTRY SEEN Sales Trends Indicate Re- mainder of Year Will Be Prosperous. BY J. C. ROYLE. Special Dispatch to The Ster. NEW YORK, November 16.—The holiday trade special has clicked over the last of the preliminary switches and is gathering speed on the main line of merchandising. This is grati- 1{ying to merchants, manufacturers and business men in general, since it is on the holiday trade that a successfu’ wind-up ‘to this remarkable business year depends. Indications based on reports today from all the main divisions of the country point to the best season the Nation has ever known, and, with such @& boost to industry, the early months vance prices. In this connection, trade |-of 1929 are likely to be on an equally interest inclined further to focus on President Coolidge’s addréss at Wash- ington tonight to the National Grange. Heavy rains and repotts of ed fields throughout the Central West gave notable strength much of the time to- day to corn values. According to ad- vices at hand husking will be slow for the present even with a return of fa- vorable weather. Under such- circum- stances country offerings were light, id previous ‘speculative sellers turned actively to the buying side. RUBBER IS PROVED Bureau of Standards Finds Cheep] and Useful Aid for Foundrymen. By the Associated Press. The scientist not infrequently has occasion to prove that an “absurd” idea is as good or better than a sensible one. Nothing has been much further from the practical fou n's thoughts than the notion that rubber might be useful to him in his work of making castings by pouring molten metals into sand molds. C. M. Saeger, jr, in charge of the experimental foundry of the Bureau of Standards, has just demonstrated, however, that rubber and even guttapercha and balata, which are used in belting and golf balls,have long- wished-for advantages over some of the materials that have been in gen- eral use in the industry. In the making of cores which can be removed from the finished casting to leave holes and openings of desired dimensions, thus eliminating the loss of time and labor costs involved in boring them out of solid pieces of linseed oil, molasses or some similar substance with the sand, work it into the desired shape and harden it by baking. Their removal, however, after the cast is made, is often an expensive, laborious and dusty task, and cracked | castings sometimes result from the failure of hard cores to give way prop- erly as the metal solidifles. y using dissolved unvulecanized rub- ber with the sand, however, Mr. Saeger has been able to make casting cores some of the-other types, do not re- i quire baking, and can be removed simply by pouring the sand out of the holes after the metal has hardened. The heat of the metal burns up the rubber which holds the sand together, but not too quickly, as tht be expected, to allow the core to fix the shape of the opening desired in the casting. He has been successful in using such cores in castings of tin, zinc, brass, nze, phosphor-bronze, aluminum, cast iron and even steel. GAIN IN MARYLAND WORKERS IS SHOWN Special Dispatch to The Star. BALTIMORE, November 16.—Em- ployment in 319 selected manufacturing industries in Maryland showed a gain of 1.6 per cent from September to Oc- tober, while the total amount of the pay rolls increased 2.4 per cent, accord- ing to a report of J. Knox Insley, State %mmhswrxtlu of labor un’g statistics. e report was prepared in co-opera- tion with the Federal Bureau of Labor and Statlstics, Information based on written reports made by 334 Maryland establishments shows that in October 65,866 persons ‘were employed. Their combined weekly earnings were $1,544,065.92. A review of 273 manufacturing estab- lishments indicated that 209 were run- ning on a normal time basis, 24 were working overtime and 40 were operating on a part-time schedule. Wholesale establishments and retail department stores also reported an in- crease in employment and in pay roll totals during the . In the de- partment store group employment in- creased 16 per cent and the pay rolls 139 per cent. Employment in the wholesale group increased .4 per cent, while the pay rolls advanced 4.8 per cent, EARNINGS REPORTED. NEW YORK, November 16 (#).—Net profit of the Otis Steel Co. of Cleveland in October set a new high record, ex- ceeding October, 1927, by 241 per cent. Production is reported at the highest level for this season of the year in the company’s history. Net profit for Octo- ber was $331,532, against $87,067 n October, 1927. For the past 10 months net profit amounted to $3,025,304, equal to $2.90 a share on 801,022 no-par com- mon shares. This compared to $1,332.- 879, or 80 cents a common share, in the corresponding 10 months in 1927. Net profit of the Symington Co. of Rochester and New York decreased in the first nine months of the year 10 $154,387 from $239,094 in the corre- sponding 1927 period. The profit per class A share was 77 cents, against $1.19 in the 1927 period. Gould Coupler Co. of Rochester, con- trolled by the Symington Co., showed a decrease in net profit which totaled $72,694, equal to 41 cents a class A share in the first nine months of the year. This compared with $153,220, or 87 cents a class A share, in the corre- sponding nine months of 1927. MAY BUILD IN BALTIMORE. | BALTIMORE, November 16 (Special). —The United States Steel Corporation is reported to be seeking a site in Baltimore for a seaboard plant. The plant would turn out several lines of the company’s products, especially for export and coastwise shipments. ‘The differential in rates from Balti- more to points South and in the Far is said to have led the company to con- sider a plant here. ‘Wire metal, it has been the practice to mix | ord which can be shaped more easily than | an satisfactory plane. Retall trade today is approximately 10 per cent larger than at_this time last year. This is due, without doubt, to the remarkable purchasing power of the Nation. The men engaged in industry, especially the basic industries such as steel, building and automobile manu- facture, have more money to spend than ever. The farmers have more cash than they had a year ago, but not a great deal more. The drop in income suffered by some farmers— among them some of the cotton grow- ers—has been compensated in most sec- tions, however, by greater profits from live stock and from dairying. The pick-up since the end of October in retail sales been much more rapid than a year ago, despite the elec- tion-day interruption. The amount of money spent, as reflected by bank debits, indicates that the peak for the year will be reached shortly. The in- crease has been felt in nearly all sec- tions of the country, but less exten- sively in New England and some of the Southern cotton-growing States than elsewhere. Even in those sections there are numerous localities where splendid gains have been made. Steel mills are maintaining a re- markable level of activity considering the time of year. Prices are very firm and the outlook is being bolstered by the fine prospects of business enter- tained by the steel consumers, among them the agricultural machinery con- cerns, the electrical equipment manu- facturers, the automobile trade and construction of various kinds. There have been several price slashes among the automobile manufacturers, but it seems quite evident that these have been announced in order to clear stocks of old models before the new styles are shown the public at the January shows. Some of the weaker industries are picking up a trifle. ‘There is a better demand for cotton textiles, and woolen mills in some sections are working at top speed, with deliveries far behind lers. The oll situation is showing steady and healthy improvement, with drilling operations resumed in the Seminole field. The anthracite industry is finding a better market than it has had since the last ill-advised strike. and even the bituminous mines are doing a trifie better. The situation of the non-ferrous metals has shown little change in the last ‘week. ‘The apple, peach, grape and potato crops in some sections were very large returns from them have not been always satisfactory, although the posi- tion of canned goods in general is advantageous. ’ Jewelry manufacturers have had fine pre-holiday sales, and the demand for costume jewelry and for pieces com- posed of artificlal gems is enormous. PARIS BOURSE PRICES. PARIS, November 16 (#).—Prices were steady to firm on the Bourse to- day. Three per cent rentes, 65 francs 70 centimes. Five per' cent loan, 92 francs, 55 centimes. Exchange on Lon- don, 124 francs, 10 centimes. The dol- l;;w:s quoted at 24.francs, 59% cen- es. SILVER QUOTATIONS. NEW YORK, November 16 (#).—Bar silver, 58; Mexican dollars, 437%. Mortgages Investments JAMES Y. PENNEBAKER Main5328 1520K St. N.W. 1 WILL SELL $1,400 So. Con. Granite 6%:% Bonds at $600 Address Box 389-H, Star Office \t-==!=l=-===4 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. N.W. Main 5833 REAL ESTATE LOANS 519 Apartments and Properties District of Columbia and Nearby ‘The erican Steel & Co., a subsidiary of the United States Steel, le Steel Co., another ‘The demand for tin plate, was one of the factors that caused United States Steel to consider Baltimore, NEW YORK BANK CLEARINGS. NEW YORK, Novembar “* (Special). —New York bank eclea . 51,676, 000,000; New York balances, $157,000.- 000; New York F:.f’.'_'“ Referve credit Maryland-Virginia 3-5-10-Year Terms Prompt Replies Randall H. Hagner & Co. (Ineorporated) Decatur 3600 1321 Connecticut Avenue Mortgage Loan Correspondent New York Life-Insurance Co. | CONTINUED GAINS T G . AT AT T o