Evening Star Newspaper, November 20, 1928, Page 13

NEW HEGH RECORDS AREHADE ON U Standard 0il and Motor Shares Are Prominent in Rising Market. BY WILLIAM F. HEFFERNAN, Special Dispatch to The Star. NEW YORK, November 20.—New high recards were established in practically every quarter of the curb market list today. The demonstration on the buy- ing side was as spectacular as at any tima curing the prolonged campaign for the rise. At intervals the tape fell more than 20 minutes behind transactions on the floor. High-grade Standard Oil shares were singled out as favorites from time to tims. Excitement and confusion pre-l valled at the Standard of Indiana post where buying orders were coming in in enormous volume. Having closed pre- viously at 977 the price opened on a blosk of 2,500 shares at 98}, and sub- sequently went to its highest of 99. The situation in Gulf Oil was similar, the price jumping 10 points to 165, a new peak, before the demand was satisfied. American Maracaibo was prominent among the low priced independents and in urgent demand at its top on rumors of renewal of the Barco concessions. Other oils that stood out strongly in- cluded Vacuum at its best. Humble up more than 3 points, Ilinois Pipe Line and Ohio Oil. The, demand for Marmon and Stutz was more urgant than at any time; during the past month. The former shot forward 6 points and the latter more than 8 points, both to new peaks. Their gyrations led to talk of possible technical corners. Newmont Mining was the spectacular performer of the mining issues, rising over 10 points to & new peak, still re- flecting the price appreciation in the shares of other mining companies held in its treasury. Shatiuck Den moved upward several points on an enormous turnover. High priced specialties were featured by a jump of 60 points in Beerc com- mon. Outside of its technical market position there was nothing that could have accounted for such a sensational rise. ‘The announcement of the pro- posed 4-for-1 split-up of the present|" General Fireproofing stock came as no surprise and appeared to have been dis- counted. Specialties which were among the favorites and reached new record prices ncluded American Stores, Anchor Post Fence, Hazeltine Corporation, Huyler, A. C. Horn, Trunz Pork Stores. Radio- Keith-Albee, Spalding, U. S. Foil “B," Harvester new and Propper Silk Hos- fery. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., November 20.— Potatoes, white, 100 pounds, 80a90: yeds, 75285; sweet potatoes, barrel, 1.25 a2.00; bushel, 50al.15; yams, barrel, 3.00a3.50; beans, bushel, 3.0024.00; beets, 100, 4.00a5.00: brocolli, bushel, 60a75; cabbage, 100, 2.5025.50; carrots, 100, 4.0025.00; caulifiower, crate, 1.50a 2.00; celery, crate, 150a3.00; Kkale, bushel, 5.00a6.00; onions, 100 pounds, 1.5024.50; oyster plant, 100, 6.00a7.00; peppers, basket, 60a75; parsnips, basket, 50a60; pumpkins, 100, 10.00230.00; spinach, bushel, 40a75; Savoy cabbage, bushel, 75a1.00; tomatoes, crate, 2.50a 3.00; turnips, basket, 25a35. Apples. bushel, 75a2.00; cranberries, box, 3.0024.00; grapes, basket, 40a50; gravefruit, box, 2.5024.00; oranges, box, 2.5025.00; pears, bushel, 1.25a3.00; | Kieffer pears, basket, 20a35. Hay and Grain Prices. Wheat—No. 2 red Winter, garlicky, spot, 1.31%;; November delivery, 1.31's. Corn—No. 2. export, December de- livery, 95'.: No. 2, domestic, yellow, 1.00a1.01: cob corn, 4.50 per barrel. Oati—No. 2, white domestic, spot, 55a256; No. 3, white, domesti spot, 53a54. Rye—Nearby, 1.10a1.20. ‘Hay—Receipts, 30 tons. While hay | s arriving here in limited quantities | only, it is more than ample for the demand, which is being supplied mostly by truck from nearby points, few car- Joads being received. There is not enough business passing to establish prices 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, 11.00212.00 per ton; No. 1 oat, 12.00a13.00 per ton. Dairy Market. | Poultry, alive—Young turkeys, pound, 38a40; old, 33a38: Spring chickens, 20a 28; Leghorns, 20a25; old hens, 22a27: Leghorns, 20; small and poor, 18; old roosters, 18a20; ducks, 22a25: small, 18a20; geese, 20a25; guinca fowls, each, 40a65; pigeons, pair, 30. Ei Receipts; 907 cases; native and nearby selected, Wwhite, free cases, dozen, 52: firsts, 47a48; current re- ceipts, 45246. Butter—Good to fancy creamery, pound, 46a52; prints, 52a54: blocks, 508 labels, 37a38; store packed, 34a- 35; process butter, 43ad4. PLANT BANNED BY LAW WINS FAVOR AS PASTURE Ilany Okh;;nl Counties Devote Arable Land to Growing Johuson Grass. ARDMORE, Okla. (). —Thanks to the boll weevil, Johnson grass now is con- sidered the farmer’s friend instead of foe. Since land in Southern Oklahoma has become infested with the insect that destroys cotton, farmers disregarded a Iaw which provides a penalty for letting Johnson grass go to seed, and the idle entton fields were matted with the grass. | Then it was discoverad live stock would {hrive on the plant that was considered a pest when it had to be hoed out of 1h> cotten fields Tests mad~ by E. T. Zigler in Ste- phens County demonstrated that an ¢~r2 of Johnson grass pasture would fatten two beeves, and make hay almost ec good as a'falfa for dairy cattle. Johnson grass resembles Sudan grass, growing ss high as a man's waist Half the arable land in many coun'ies 0! Southern Ok!ahoma is devotd to the piant, and some farmers even buy its sced to sow in weevil-infested fields, and plan to raise cattle instead of cote ton as their major crop. Meanwhile the Jaw branding Johnson grass as a noxious weed remains in the statute book. POTATO MARKET DULL. CHICAGO, November 20 () (United Statcs Department of Agriculture).— Potatoes—Receipts, 89 cars; on track, 389 cars; total United States shipments, 545 cars; trading slow, market cull; Wisconsin sacked round whites, 80a 1.00; Minnesota and North Dakota sacked round whites. 80a95; racked Red River Ohios, 1.0021.0: South Dakota sagked early Ohio’s, 90a1.00: Idaho sacked Russets, 1.50a1.75; fancy shade highor. sty Chicago Pneumatic Tool Co.,of New York directors are considering changing th> company’s cepital structure. It is Astatad thet thors will b2 no financing. “The compon: 1iing 80,62 207 of con'ta 3 is no prowcrred. A di 8 share annually was . Jenuaxy, 1927, Received by Private Wire Market today: ales INDUSTRIALS. | in hundreds, Hi I 3L Acoustic Prod Agfa Ansco 5 Azfa Ansco pfd . Low. Noog 18% 1873 a1 a1 1 Allison_Dr B 4 Alum Co Amer ... l1; 55 Am & For Pow war 8 Am Cranamid B 26 Amer Dept Stores 12 Amer 3 42 Amer States Sec A States Sec B Sta Sec war Supern A 9 Amer_Superp B tlan EAm 1it pid 5 Gl & it 33 Cent Bin Cor+.-. 4Cent Pub S A 31w Maeh & Tool 3 Colt's Pa Fire ; 4 Goleman Lamp & Si6 11 Cons Anto Mer vte .. 3 Gonsol Dty h 7 Consol Lannd 1Curtls Pub_xd, 88 Curtiss Flving Se 6 Deere & Co .. De For R G 10 Doehler Die € 3 Dominion_St Ltd 5 Evans Wall Lead 241 Fairchild Aviation A. 3 Fancanzo Corp A 4 Fansteel Prod 4 Fed Metals ctf 14 Pirestone Tire NEW YORK CURB MARKET | ! Pollowing is a list of stocks and | bonds traded in on the New York Curb | THE EVENING STAR, WASHINGTON, D. C. TUESDAY, NO Direct to The Star Nfice 13008 O Ky.. “eddh Ohio_pfd. 5300 Vacuum Olpl Sales NDS. in thousands, me Abra & Stra 5las willl 35 A.. nein 8t Ry S Bery g5, o 2000900 B 3 379, = P 2 g ] 333223 ed Wat Se) isk Tire 5las o P & L5 ... atineau Pow 55 200! en 102 t Oil Pen s 470 101 ouston Gulf G 8> on Gulf G 6s Pow & L 51as ' iFor Pow 7s pfd 3 Follansbee Bros ..... & 14 Ford Motor Co Can.. 605 4 Forhan Co A ... .. 31 2 Foundation For ‘A 9 Fox Theaters A . 7 Fokker_Afrcraft wi 5 Freed Eisem R C - 8¢ Freshman_Chas 5Gen Am Inv en Bak pid n Mills ... 3 Gold Seal Eiec . 1 Goldberg_Strs i 23 Gotham Knitbac 4 Gramophone Co Ltd. 2 Hall Lamp .......... 21 6§ Hall Printing 11100 10 Heppin C St A 4 Hart Parr ... 25 Hazeltine Corp .. 33 Hiram Walk G & W Mavis McLellan Mesabi b Dodge’ ‘Cor 10 Philip Morris . 18 Philip_Morris A it Regis Paper rts Schulte Real Es lserv El n vic pfd 2 Sikorsky Aviation. h Co (AO). Toddy vte Transcon Al Trans Lux Pict...... 8 Trunz Pork Stores wi. 50 % PROTRIVINNA -~ e 133 3 i1y 470 i 3’ Watson_J W... Wa. ump. . Wire Wheel Corp Worth Inc A.... Zenith Radio ... Sales MINING STOCKS. in hundreds. 3 Garnegle Metals 10 Goldfid Cons . ; 8¢ Hud Bay Min ‘& Sm.. 3 Iron Cap Cop 4 2 Kerr Lake . £ 50 " .5 55 Nsw_Cornelia o 42% 423 mont Min 20874 210 . 27 2 tick Denn Gold Sales INDEPENDENT OIL in hundreds. 6 Am Con Oilfids ... 124 Am Maracaiby Go 51 Barnsd_deb ris.. 72 Carlb Synd 28 Cities Serv n'. 16t Sery ptd 8 New Bradford 0.11[[] 64N Y Pet Rovalty. .. 15 Pacific Western Oil wi 15 Pandery Oil ... 7 Pantepec__Oil. 3 pennok Oil Corp. 14 Reiter-Foster Ol...\" " 1Rich O Calif pf ww. 10 Balt Ck Prod... 3 8hell Union Oil ¥ 27 Texon & Lan 3 Transc Oil pfd... § Venezuelan 10 “Y” Oil n.. ales in units. 200 Anelo _Am 6 6 STANDARD OIL ISSUES AN, : MER E0nSIB AR Ee ST0CKa: oil. 18% 18% I 2 P L 0" le o 13,50, occasionally 3.75 on fancy Libby Mc! Long Isl Lt 6s 41 anitoba Pow 3'as A 10113 155, ... 104% 1 Morris & Co 7 40 Narrag Co 58 A_. { 8 Nathan Strauss Inc 10d_ 6o s 20N Y 21 Nor States P. 101 3Pern P & I 53 B '53. 1Phila E P 558 '7: 10: 1Pow Corp N Y 5ias. 1Rem Arms 5158, 17 Richfid_Oil 5 ; 2 Roch Cent Pow 55 A 3San Anton P S 55 B.. L Gaz & Coke €5.. 9 5 Texas P & L 58 01 27 Truax Trae Coal 6728 101 Ulen & Co 6'35 9 i Lt & EEEET] 5 Va Elec & Pov: 5s A 100! Vestern Pow 5128 A 1077 hite Sew Mach 6s.. 101%2 FOREIGN BONDS. 4Baden 75 A 2 Be: 22 Bolivia 15 [.ll. 4 Buienos Aires 712 & Priv BK 5! Co 65 S gsgga o11; 20 4 Warsaw 75 xd—Ex-dividend, Wi—When issucd. NEW YORK, November 20 (Special). —White Danish cabbage sold in bulk‘ on the basis of 35a37, occasionally 38 | a40 per ton. 1 Up-State New York washed carrots | |in bushel baskets, peddled cut at 1.75. | Several car loads of Middle Western| ‘Western New York celery, in packed in two-thirds crate, sold at 3.00a | 002 | 2.75 on fair quality, and 753175 en { poor. California celery, in large crates | brought 5.00a6 50. ! { Washington boxed Spitzenberg apples | | changed hands at 1.60a3.20: Jonathan: 1.4022.1 Delicious, 2.0523.05; Rom Beaut it 1.30a2.45, and McIntoshes, 1.20a3. Most of the jobbing sales on West- ern New York round white potatoes in bulk were reported at 2.00 per 180 pounds and Maine Green Mountains, 5 2.25. Hundred-pound sacks of the finest yellow onions from the Middle West realized as high as 4.75, but State consignments rarely showed size or | quality atiractive enough to exceed 3.50. CHICAGO DAIRY MARKET. CHICAGO, November 20 (#).—Butter —Higher; receipts, 8,828 tubs; creamery extras, 49%: standards, 48; extra firsts, 1 4615a471;; firsts, 44a45%2; seconds, 41 | a43. Fggs—Higher: reccipts, 3.655 cases; | oxtra firsts, 48a49: firsts, 40a47: or- | dinary firsts, 30a38: refrigerator extras, 31; refrigerator firsts, 30. Poultry—Alive, firmer; receipts. 8 Lears: fowls, 22a25'>; Springs, 25'ca 1261, roosters, 20; turkeys, 30a38; ducks, 117a22; geese. 20. - R GRAIN EXPORTS GAIN. | By the Associated Press. | Grain exports from the Unitgd States | 1ast week were 4,760.000 bushelS, against 4,061,000 bushels the previous week. Commerce Department figures today gave the following comparisons between last week's exports and those of the week before: Wheat, 3,221,000 bushels, against 1,973,000 bushels; rye, 157,000, against 294,000; , 8 223,000; corn, 261,000, barley, 1,033,000, against 1,087,000 Canadian grains exported last week through United States ports amounted to 1,779,000 bushels, against 2,397,000 bushels, while last week’s exports of North American wheat flour were 312, 000 barrels, against 239,000 barrels the previous Wall Street hears that the North American Co.'s program for its subsidi- ary, Wired Radio, Inc., calls for pur- chase of $37,000.000 of wired radio couipment apnually. Under the Kolster ther O'Ind..... S O Kansas. {also were worried over the advertising campaign waged by one of the great | | tioned. | due unwashed carrots in 100-pound sacks, | i | wholesaled at 2.10 per sack. no HUGE SUEAR CROP | FORCAST N CUB Increase of 700,000 Tons Is| Indicated as Mills Pre- pare for Grinding. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, November 20.—Cuban sugar producers are already putting their mills in shape today for the grind- ing of a huge crop, unhampered by government, restriction in the scason of 1928-29. There is every indication that the crop in the island will be 700. 000 to 1,000,000 tons heavier than 1927-28 and that world production will are | exceed 30,500,000 tons. Stocks higher rizht now than at any time since 1923, although they have dropped from | the peak of the year, when they were | above 500,000 tons. With Hhese facts in mind, the sugar | men are worrying about any factor which may tend to reduce consumption. Prices seem to have little chance of rising in view of the huge world out- put, and it is on quantity sales that the sugar people must depend to build up | profits. They have, therefore, been considerably exercised over the strenu ous fight for the consumer’s dollar be ing waged by the tobacco and candy industries. The candy and sweets manufacturers tobacco manufacturers urging women BROKER SENTENCED. Member of Defunct Firm to Serve Seven Years for Larceny. PORTLAND, Oreg., November 20 (#).—James P. Cooke, president of Overbeck & Cooke, stock brokerage house, which failed last January, was sentenced yesterday to seven years in prison for larceny by embezzlement. Cooke was convicted in connection with the disappearance of funds de- rived from sale of bonds for a cus- tomer. A county grand jury indicted Cooke, Charles S. Goodwin, vice presi- dent, and Howard S. Phlhpou.. secre= tary. Goodwin pleaded gullty and will be " sentenced next week. Philpott pleaded not guilty and his case is yet to be heard. The indictment resulted from charges that customers suffered | losses aggregating $1.600,000. | Cooke’s attorneys filed motion for a {new trial. 'RAIL MERGER PLAN WAITS ON INQUIRY I. C. C. to Investigate Proposal of Northern Lines From Public | Standpoint. VEMBER 20, 1928.° Commodity Cement. CHICAGO, November 20.—Cement mills in this territory are now working near capacity, with prospects for sales during the Winter most favorable. Con- tn‘cmrs are buying freely at unchanged prices. Automobile Accessorles. ELYRIA, Ohio—The Falcon-Knight plant here is being enlarged to allow the manufacture of coupe bodies for Willys-Knight cars. When the work is completed 2,000 to 2.500 men will be employed instead of 750, as at present. Corn. JEFFERSON CITY, Mo.—Corn in Missouri will average 28.8 bushels an acre this year, making a total crop of 193,372,000 bushels. This with 172,637,000 bushels in 1927. Live Stock. FORT WORTH.—Ranchmen in Crock- ett County have sold 10,000 to 12,000 lambs for Spring delivery at $7.50 for ewes and 10 cents a pound for mutton lambs. Prices for sheep have advanced notably in the last two weeks. Fruit. SAN FRANCISCO.—The past sea- son’s crop of prunes is now pretty well cleaned up, for there was a compara- tively light crop both of prunes and Special Dispatch to The Star. NEW YORK, November 20.—The re- | cent flurry in the stocks of the North- ern railroad lines has been predicated on the prospect of an early decision by the Interstate Commerce Commission on the application for a merger of the | Northern Pacific and Great Northern, which together control the Burlington. There is, however, no prospect of the commission arriving at a decision in who wish to get thin or keep thin to reach for a cigarette instead of a sweet. This campaign aroused bitter animosi- { ties for a time, but it is now being dis- | covered that a phenomenon is taking for customers place. This battle There is benefiting both antagonists. only one way to account for this. is attributable to the efficacy of news- paper advertising. At first sight a campaign of this sort would seem a conflict of interests, but it is turning out a victory for both the opposing forces. The candy and sweets men have found that the injunction to abandon sweets for tobacco, while it may influence some to that end, also ir.fluences others to buy sweets. Foreign merchandisers who come to this country are astonished at this at- titude. They cannot understand the challenging attitude which permits 10 to 20 automobile manufacturers to ad- vertise on a competitive basis in the same magazine. They are unable to appreciate the attitude which makes it possibl2 for four typewriter manufac- turers not only to advertise in the same medium, but display their wares within a few fecet of each other. They look with astonishment on whole buildings and business sections given over en- tirely to firms in direct competition with each other. ‘American economists, howerer, point | out that this country has almost un- limited consumer possibilitics and that every competitive product mentioned in | any sales endeavor helps to create an interest not only in the product adver- tised, but also in the product men- That is why the apparently bitter rivalry between the tcbacco and candy manufacturers is bringing ad- | vantages to cach. WHEAT SHOWS GAIN ON INITIAL DEALS Market in Upward Trend Follow- ing Larger Estimates of Supplies. By the Associated Mress. CHICAGO, November 20.—Enlarged estimates of world requirements of wheat helped to give an_early upward trend to wheat values today. Further- more, it was reported that Europe is absorbing Canadian sand Argentine wheat steadily and India is taking new wheat from Australia. Opening unchanged to 33 higher, wheat prices afterward showed some gain all around. Corn and oats were likewise firmer, with corn starting at a shade lower to !, advance and subse- quently scoring a general upturn. Pro- visions declined. An increase of 56,000,000 bushels in astimates today of world needs of wheat for the season from August 1, 1928, to | July 1, 1929, put the total up to 880,~ 000,000 bushels. This amount was gen= erally referred to as about the largest over known for any similar period. With Liverpool quotations higher than and Wi demand from British millers reported as showing improve- ment, selling pressure in Chicago was at a minimum much of the time today and the market was responsive to scatiered buying. Corn values tended noticeably to re- flect smallness of receipts. Only 100 cars of corn arrived in Chicago today, compared with 437 cars a week ago and 176 cars on the corresponding day last year. Besides, according to a leading authority, Europe will require 129,000,- 000 bushels of corn this season from the United States, with Argentina already leaving the market, to this country, and shipments of ' Argentine. new-crop next June. CHICAGO LIVE STOCK MARKET CHICAGO November 20 (#).—(United States Department of Agriculture).— Hogs—Receipts, 47,000 head: market opened 10a15 lower; later trade, 15a25 lower; top, 9.15, paid for an occasional load of 200-260 pounds; butchers, me- dium to choice, 250-300 pounds, 8.758 9.15; 200-250 pounds, 8.75a9.15; 200 pounds, 8.4029.15; 130-160 pounds, 8.25a8.85; packing sows, 7.85a8.40; pigs, | medium to choice, 90-130 pounds, 7.75 28.50. Cattle—Receipts, 10,000 head; calves, receipts, 3,000 head; largely steer run; fresh receipts increased by excessive holdover from Monday; tendency un- evenly lower; she stock scarcely steady; vealers, 50 lower; fresh steers, early 16.00; slaughter classes, steers, good and choice, 1,300-1,500 pounds, 13.50a 17.50; 1.100-1,300 pounds, 13.25a17.50; 950-1,100 pounds, 13.25a17.75: common and medium, 850 pounds up, 8.50a13.25; fed yearlings, good and choice, T7: 950 pounds, 5a17.00; heifers, good and choice, pounds down, 15.00; common and medium, 7.50a11.50; mon and medium, ; Jow cut- ter and cutter, 5.50a7.00: bulls, good and choice (beef), 9.50a11.25; eutter to medium, 7.25a9.50; vealers (milk fed). good and choice, 13.00a15.50; medium, 12,00213.00; cull and common, 8.00a 12.00; stocker and feeder steers, good and choice (all weights 11.00a12.25; common and medium, 8.7511.00. Sheep—Receipts, 11,000 head; Spring lambs, fairly active around steady: bulk carly sales, 13.00a13. 13.75; sheep and feeding lambs steady; lambs, good and choice, 92 pounds down, 12.75 a13.85; medinm, 12.00a12.75; cu!l and common, 8.50a12.00; ewes, medium to choice, 150 pounds down, 4.50a6.85; cull and common, 7505.00; feeder lambs, good and choice, 12.25a13.50. Gets Chinese Telephone Contract. SHANGHAL, China, November 20 (#). —The Automatic Electric Co. of Chicago today signed a contract with the Nationalist government of China for the installation of an automatic telephone system in Nanking. The cost will be $1,800,000 in gold and the ?‘AEnt is to be cwnpleted by December, Radio Co.'s contract with North Ameri- can. ot than one-third of this equipment must be purchased from Kolster on cost plus 25 per cent basis. SILVER QUOTATIONS. NEW YORK, November 20 (4).—Bar silver, 58. Mexican dgllars, 437s. 1t this important case until next Spring. Just_what it may do when it begins | to study the briefs that have been pre- ented by the Northern lines and by | their opponent, the Chicago, Milwaukee, | st. Paul & Pacific, it is difficult to determine. The members of the commission realize that in this consolidation re- quest they are dealing with quite differ- ent conditions than those that have come before it in other matters of sim- ilar nature. For one thing, it is not complicated by financial deals of any sort and is as clear-cut and clean a proposition as could be presented. There is some doubt, however, as to whether a demand for railroad con- solidation exists with the public and whether the benefits of it are as great as_have been pictured. President Coolidge is understood to be a strong advocate of some railroad consolidations. He will probably refer again in his message to Congress next month to the necessity for railroad uni- fication, but, inasmuch as Congress has a great deal of routine work to do in the short session, not much hope is held out for enacting laws that will pro- mote the bringing together of com- | peting lines. The so-called “short lines' are anxious to develop the consolida- tion idea, as it is in thelr interest to attach themselves to the stronger sys- ems. The latter are just as reluctant to be embarrassed by these small roads, which, they feel, will not add very much in the way of new business and whose price has been held above what is considered to be justified by average annual earnings. The Interstate Commerce Commis- sion would undoubtedly be pleased to have Congress take the matter of con- solidation off its hands, for it realizes its inability to deal with the subject and to carry out the suggestions made as to mergers in the transportation act. Whatever it may eventually do will be along lines quite different from those suggested in the tentative plan for uni- fication put out some years ago. Com- missioner_Porter is working on a new line-up. It is doubtful, however, wheth- er this will be available to present in workable form within a year or so. The recent purchase of control of the Buffalo, Rochester & Pittsburgh by garded as evidence that Eastern' rail- road managers have given up the idea of formulating a plan that will suit all of the five major systems. The Van Sweringen policy seems to be that of going into the market and buying what is required to round out a system, with- out waiting for their competitors to act or to receive instructions from govern- . COTTON PRICES FIRM IN OPENING SALES WMarket Advances 11 to 13 Points on Favorable Liverpool Cables. By the Associated Pre NEW YORK, November 20.—The cot- | market opened firm at an advance of 11 to 13 points in response to firm Liverpool cables and soon showed net | gains of 16 to 17 points, with Decem- | ber selling up to 19.80 and March to | 19.70. Liverpool was reported a buyer | here, while there was buying for trade | account and commission houses, to- | gether with considerable covering. On |tha whole business was more active it for some time past, but the market met a little more cotton at the higher the rough | corn expected to reach Eurcpe until' prices and the volume of business ta- | pered off somewhat by the end of the first half nour, although the tone con- | tinued steady. { Private cables reported trade calling, with local and London buying in the Liverpool market, and said there was a scarcity of contracts in that market. A private report placing ginnings at 11,- 230,000 bales to November 14 was pub- | lished, but appeared to ba without much influence on the market. EARNINGS REPORTED. NEW YORK, November 20 (#).—The Erie Railroad System ended the first 10 months with net earnings of $8,042,~ 135, compared to $1.314,212 in the col responding 1927 period. Net income of the Mahoning Coal Railroad Co. for the first nine months was $1,267,232, equal to $41.41 a com- mon share, against $1,422,302, or §46.58 a common share, in the first nine months of 1927. Park & Tilford, Inc, of New York reports profit for the third quarter of $355,757, against $440,575 in the pre- ceding quarter and $222,375 in the first quarter of the year. Profit of the Dochler Die Casting Co. of New York for nine months was $540, 160, against $353,397 in the correspon ing 1927 period. The company has developed a new field in manufacture of aluminum die cast radio cabinets and loud speakers as a branch of its metal furniture business. Re;vorts on VOi‘l“ Wells. NEW YORK, November 20 (#)— Mathew C. Brush, chairman of the board of the Barnsdall. Corporation, re- turning from the Paclfic Coast, reports that three wells in the Elwood tract, west of Santa Barbara, are running ahout 11,000 barrels a day. Barnsdall a1d Rio Grande Oil Co., each own a half interest in the field. Mr. Brush sald Rio Grande was going to split up l(ts stock ‘five for one in the immediate uture. BALTIMORE SHIPPING REPORT BALTIMORE, November 20 (Spe- cial). —Sixty-seven steamships from overseas have their noses pointed toward Baltimore and are due to ar- rive this week, according to a report of the Maritime Exchange. Thirty-five of the ships are American and 11 are British. Siweden and Nor- way have 4 each. Japan and Holland have 2 each and Italy, Denmark and Peru each have 1. The others fly the German flag. the Van Sweringens of Cleveland is re- | apricots, and prices for both are firm. Most_sales have been made direct to the distributing trade by the co-oper- ative associations. o STRIP STEEL PRICES. NEW YORK, November 20 (#).—Hot rolled strip steel prices will be con- tinued for the first quarter at current riominal level of 2 cents a pound for strips up to 8 inches in width and 1.90 cents for material wider than 6 inches in the Youngstown district. Cold rolled strips will range from 2.85 cents compares | RIVERDALE BANK OPENS Many Visit Newest Financial In- stitution in Prince Georges. RIVERDALE, Md., November 20 (Spe- | clal). —With flowers filling the lobby | and a reception committee, headed by | C. A. M. Wells, president, receiving vis- itors, the Citizens' Bank of Riverdale. the newest bank in Prince Georges| County, opened this morning for busi- ness. It will remain open for inspec- tion until 9 o'clock tonight. Located on the Washington-Baltimore | boulevard, at West Madison avenue,. th>/| bank, which starts with a capital stock | of $25,000 and surplus of $25,000, oc-| cuples an attractive structure. | G. Sherman James, former paying teller of ths National Bank of Wash- ington. and a_ resident of Hyattsville, | is cashier of the bank and J. Burrows Waters, jr., of Riverdale is assistant| |-cashier. \ | | Making Company Expands. | | NEW YORK, November 20 (#).—The | General Baking Co. of New York has | | acquired through Frank C. Kolb, the Kolb Baking Corporation properties in Allentown and Reading, Pa., it was| learned today. | OFFICES For Lease in the Edmonds Building | 917 15th St. Located in the center Financial and Realty distric eral desirable suites now a: Very low rentals. HANNON : & LUCH of _the ove tlable. o 2.95 cents, depending on volume of tonnage order 1435 K St. Main 2345 of the Bankers Established 1899 BALTIMORE - MARYLAND Telephone: Main 2868 First and Second Trust Money Available On Homes, Apartments and Business Properties Prevailing Interest Rates Moderate Charges No Appraisal Fees District National Securities Corporation in2991. 1106 G St. N.W. PAR VALUE FOR YOUR STOCK Listed or Unlisted Issues An excellent opportunity for you to realize full value on your stock holdings in the purchase of a new home. We are in a position to ac- cept in a limited quantity stock at par value as cash payment on a selected list of new homes and investment properties. A real opportu- nity for a limited time only. Address Box 31-J, Star Office. We Have Prepared An Analysis UNITED STATES FIDELITY & GUARANTY CO. of BALTIMORE, MARYLAND which we will be glad to send on request MACKUBIN, GOODRICH & CO. Members New York and Baltimore Stock Exchanges Washington Office - 509 National Metropolitan Bank Building Dated: November INVESTMENT BONDS Callable at 105 and interest on or before November 1, 193. ember 1, 1933 and on or before November 1, 1938; and at Redeemable for _the sinking fund at par and Federal Income Tax paid up to 2% per annum as up to 5% per annum as to non-residents. Customary state tax refunds. FIRST NATIONAL BANK OF DURHAM, NORTH CAROLINA, TRUSTEE PRICE: 99 and accrued interest, to yield about 6.10% Mr. Sam T. Hodges, Vice-President of the Home Mortgage Company, has summarized as follows from his letter describing this issue: BORROWING CORPORATION: The Home Mortgage Company was incorporated under the laws of North Carolina by a group of bankers, insurance officials, manufacturers, leading real estate experts and experienced first mortgage operators. The company conducts a busi- ness confined eritirely to first mortgage loans on completed homes and income-producing properties in North Carolina. As of October 31,1928, the company’s capital, surplus and deferred income reserves amounted to $1,665,483.51, with total assets of $9,329,958.33. Since the Company’s inception over 2,500 loans have been made without loss. SECURITY: The bonds are the direct obligations of the Home Mort- gage Company of Durham, North Carolina, and are now secured by deposit with the Trustee of first mortgages on real estate owned in fee simple in North Carolina and by cash. Under the terms of the Trust Indenture none of these deposited mortgages shall exceed 60% of the appraised value of the property. Monthly payments must be made on each deposited mortgage during its life, in each case less than 15 years. The Trust Indenture provides that mortgages deposited as collateral, or cash, must be always at least equal to the amount of bonds outstanding. NORTH CAROLINA: North Carolina is the foremost Southern State in finance and commerce. For the fiscal year ended July 1, 1928, the State ranked third in the payment of Federal Taxes, following only New York and Pennsylvania. The iricrease in per capita wealth from 1912 to 1922 (the latest authentic information available) amounted to 238% for North Carolina as against a 61% increase for the entire United States. SINKING FUND: Bonds in the amount of $200,000 must be retired annually from November 1, 1939 to November 1, 1943, thus paying off the entire issue on the latter date. $1,000,000 Home Mortgage Company DURHAM, NORTH CAROLINA First Mortgage Collateral Trust 6% Sinking Fund Gold Bonds (SECOND 1SSUE) 1,1928 We recommend these bonds, Call or write for CIRCULAR 220-G S.W.STRAUS & CO. 929 FIFTEENTH STREET N.W., WASHINGTO! Telephone Main 5847 —ESTABLISHED IN 1882 Due: November 1, 1943 Interest coupons payable May 1 and November 1 3; 103 and interest after Nov- 101 and interest thereater. interest. United States of America to residents of the United States and INCORPORATED