Evening Star Newspaper, November 21, 1928, Page 15

CONVERTIBLE BOND ISSUES SHOW LOSS Market Less Active Than| Yesterday—Qils and Coppers Decline. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, November 21.—Con- vertible bond issues made a poorer showing today in following . the reac- tionary trend in stocks, which in the first haif of the session caused declines of from 1 to 4 points in this group. They were not 5o active as they have | been. Andes Copper 7is declined 2 points | and Anaconda 7s lost 3 points. The oil convertibles were 1 to 2 points lower with the exception of Colon 6s, which advanced 2': points, duplicating their , previous high, Other convertibles, such as J. Kayser 5128, Loews 65 and Pathe 7 ‘were steady on moderate transac- tions, Public Service of New Jersey 4%s, ined 2%, points. e suciained high Tate for call money, which has been renewing at 6!z per cent for the greater part of the week, is reflected in somewhat easier prices for low coupon bonds whose price range s slightly lower. Against this. however, is the evident interest in high- grade securities illustrated by the un- usual demand late yesterday 2nd again today for the New York City new 4% per cent bonds. Half of he issue of $55,000,000 had been sold before busi- ness opened this morning and through- out the day the twoscore or more par- ticipating houses had a steady flow of orders for them from all parts of the | country. There was also a good de: mand for the Detroit city loans. With these two issues the day’s total of new offerings amounted to over $86,000,000. The Bulgarian loan was a test of the market, for the obligation of one of the | Eastern European countries sanctioned by the League of Nations. The old 7s | declined 3, in an adjustment lo the | price of the new bonds. | Foreign_convertibles made a better showing than the domestic list. The Fiat 75 with warrants were up 3% | points, the Monticantini 7s 215 and the Pirelli bonds a point. South and Cen- | tral American Morigage bond issues | were in good demand, with some evi- dence that the visit of Mr. Hoover to South America has brought investors to a better liking for the securities of the South American republics. In spite af the talk about efforts to improve the status of the holders of Russian bonds, prices of the active certificates of de- posit give no evidence that concrete gains will be made in this directior Money to Loan Secured by first deed of trust on real estate. | Prevailing interest and commission. Joseph 1. Weller J0 W20t § Ut | { SEIBERLING ALISTREADS LEHMAN’S TIRE SHOP 12th & K NW. i 48, Main 1470 | UNITED (Sales are Lib 3%s.... Lib1st4%s Lib4th4ys i1 48 FOR! Argentine 5 . | Argentine 6s Ju 59. Acgentine 6s Oct 59 | Argentine 53562 Argentine 6s A Argentine 6s B Australia 43s 56. tralia 58 19 Beigium 65 . Belzium 7s 195 Belgium 78 1956.... Belgium 73s...... Bordeaux 6; Brazil 635 19 Brazil 61451927, uzil 7s Canada bs 193 Canada 55 195: Canada 5%s 1929 Chile 6s"60. . Chile 6561 . Chile 751943, Colombia 6s Jan’61 Con Pow Japan Ts. . Copenhagen 4%s 53 penhagen 5s ct Denmark 6s DELS N 5 Dutch East I 65 47.. 51 Salvador 8% °48. . French 7 German German 7s. Ger Gen Elec 7s Hungary 7%s Laly 7s. Italian Pub S 7s. Japanese 4= Japanese 833 Lyonés....... Mexico 4s 04 asntd. Mexico 45’10 asnt. . Milan 63s. .. Montevideo 7s. Netherlands 6s 54. . Netherlands 6s 72.. New So Wales 58s. . Nord 63%s.... Norway 551963 Norway 53s. Norway 6s 194; Norway 6s 1944 Norway 634s 1952. Orient Dev deb 6s. . Paris-Ly-Med 6s. .. Paris-Ly-Med 7s. .. Peru 6s 67 w1 ‘eru 73 Poland 7s (ro Poland 8s. . Prague T1s Queensland 7s. Rhinelbe Un 7 RhineWst EP 65’52 RhineWst EP 65'53 | RhineWst EP 78’50 10 100% 100% 100% 9 Rio de Janeiro 63%s. Rio de Jan 8s 1946. ., Rio Gr Do Sul 8s... Rome 63;s... . Saxon (PW) 7s Seine 7s 42. .. Serbs Crot Slo 85 | Shinyetsu 61s 52 ! Soissons 6s. Sweden 6s Investment . Suggestions |, Swiss Confeg { Toho K1 Pow Ts Tokio .. Tokio 5151 Uid Kingm 5% | Utd Kingm 5338 37, Each month The Equitable pre- pares a list of bond suggestions suitable for business and per- sonal investment needs. This monthly publication sup- plements a Bond List with several features devoted to the interests of Bond buyers. H Send for a copy ! THE EQUITABLE SECURITIES COMPANY Pc A swhsidiary of Tie Bquitcbis gy \Ompeny § o New ¥ork b 917 Fiiteenth Street, N. W. WASHENGRON, D. C. INVESTORS? Stop, Look, Listen 'Cuba Cane cv' CubajCh Utd SteamCopen TUruguay 8=, Yokohama 6s w 1. MISCELLANEOUS. AmAgriChem 7%s. Ah Smit & R 1st 5s. Am Sugar Ref 6 Am T & T el tr 4 AmT&Tcl trbs. ., AmT&Tst5s..., Am Tel & Tel 5%s. . Am Water Wks 5s. Am Writ Paper 6s. . 86% 86% Anaconda 1st 6s... 111 105% 105% 105l Anaconda cv db 7s. . Andes Gopper 7s. Armour&Cod%s Armour Del 5%s. .. Stlpm 55 Beth'Steel 5%s 53. , Bethiehem Steel 6s. Certain-Td5¥%srets Chile Copper 5s. Colon Oil 6s 38 Col Gas&El deb bs. Con Coal Md 1st 5e. Con Gas N Y e 85 Cuban Am Sug 8s. . Denver Gas 5g. DetroitEdigon5:40. | Detroit Rdison 6s.. I Have for Sale | $132,700 in { Second Trust Notes, £211,500 in First Trust Motes ! Bearir % eor better, at dis- || counts of irom 1 to 15%, run= §| ing 3 years. These are much better than any- thing offered on stock market to- day. Secured by income-bearing Real Estate which will “Stay Put” and bear a better interest rate. Don’t be foolish—see me. WM. H. KYLE Real Estate Financing 1410 G St. N.W., Main ‘662 o o e— Georgia Power & Light Co. First Mortgage 5% Gold Bonds Due June 1, 1978 Company is the system Utilities 4 portion of Middle West Company, ren- of and ders electric light and power service to 39 communities in Georgia, in addition to water and other public services. Net earnings for 12 months ended Septenber 30, 1928, 207 es annual interest requirements. were over Price 93%; and Accrued Int., Yielding 5.35% STROUD, KURTZ & CO. | Incorporated. TRANSPORTATION BLDG. WASHINGTON Dodge 6s. .. 3 Duquesae4¥s 67 Fiast Cuba Sug 7%s. Fisk Rubber 88. ... | Gen Asphalt 68 36.. 1 109% 109% 109% | Gen Cable 6328747, Gen Mot Ac Cor 6s. Goodrich 634s. Goodyear 55 rets. .. Hoe & Co 63%5... Humble Oil = Humble O & R 5%s, illinois Bell 1st 5s., Illinois Steel 435, , Indiana Steel 55. Inland Stl 435’78 Intl Cement 5 48 Int] Match 58 47. Int Mer Marine 6 Int Paper 53 47.. Inter Baper 6s. Int Tel&Tebeg'4?; s, Kayser J & Co 535, Kan City P & L 5s. Kin'G & E 6s52... ‘Kelly-Spring 8 1z 107 Pow 6s. | Pacifie Gas & 11 4%s | Sinclair Crude Sin Pipe Line Skeliy Oil 55, Sales. High. Low. 24 1001 4 100 31 10025 100 25 TL 1011 11058 200 1083 1081 30 11319 1134 . 14 100 [ 40 107% 107 107 . 6L 434 218 211% 212 §S.. 15 106% 106% 106% 161 102% 104 STATES. .000.] e Low, Close |Southwest Bell 5s 99 28 100 “Tenn Copper 65°41. 10031 10031 9921 9918 9921 9930 9927 9927 1058 1058 1081 1137 USRub 7%s.... U S Steel s f bs. EIGN. Utah Pow & Lit b Sales_High. Low. Close, | Warner Sug 7s 39 92 913 92 |Warner Sug 7s 41 20 99% 99% 997 | West Elecbs. .. 12 100 99% 100 | Westn Union bs 51. 11 96% 96% 96% | Westn Union 633s., 15 100% 100% 100% | Westinghouse 6s. 27 100% 997 1004 | WinRepeatAr 7345, 14 8815 88w 88y | Willys-Ov 63833, 961 97 96% 96 96 9 1031 103 103 8 98 97 97 |AnnArbor 4 26 100t 100% 1001 | Aichison ge 6 106~ 106~ 106 |Atlantic CL 1at4s. % ‘ Atl & Dan 1st 45 43. 6 107% 107% 1078 { £1 23 1064 106% 106% | B& O Qold 4s....... 11 115% 116 115 B&gcfl'{.-.. 4 110% 110% 110%| B & O b8 2000 D. 7 105% 105% 105% Oret bs. . 10014 1001, | B &O 1stbsct. 96t 96u [B&OXLimp6s. ... H B&O PLEWY 4s. Brdway&7th Av 5s. 2 4 Brooklyn Elev 6%, 3 102 101 100% | oxlyn Mannat es. .. 2 1014 101% 101% | g, o' T AIAAL 8. 1 104% 1041 1043 e 11 100% 100 100% | Can Nat 4355 30. ... 16 93% 93% 93 | Can Nat 4%gs 57 13 93% 93% 9313 |Can Nat4%s64 2103 102% 103 |Canad North 634 39 91 90's 90% |Canad North 7s. 6 98% 9815 98Y% | Canad Pac deb 4s 10 88% 88% 88% | Can Pac 43;s 46 4 96% 9615 96% | Central Pacific 4s 24 102% 102% 102% | Cent Pac-1st 58 90.. 3 109% 109% 109% | Chesa Corp bs w 1 1 109% 109%: 109% | Ches & O gn 43s. .. 8 104% 1045 104% | Chi & Alton 3s 1 103% 103% 103% | Chi & Alton 3355 2 104%s 103% 1041 | Chi B&Q gen 4s 53. 5 111 110% 111 |Chi B&Q1strf 5s. 2 961 9615 96y | ChI&E Il gn 58 51 98k 200 O MR It B Bh b2 Chi Gt West 45 59 1 106% 106% 1056 | Gt fe (Hogt 48 80 - CME&SEP ret 433589, el ChiMilSP&PacssTs. L 9315 931 63 107 106% 107 3103 103 108 2 101% 101% 101% 10 97 96% 97 7 96% 96% 96% 10 924 9214 9215 18 101% 101% 101% 2 100% 100% 100% 2 22% 22% 22% 10 22% 22% 22% 91% 914 91% 6 101% 101% 101% 9 100% 100% 100% 2 105% 105% 105% 7 94 93% 98% 5103 103 103 20 9T% 9T% 9% 9 100% 100% 100% 13 103 102% 103 2103 103 108 16 102% 102% 102% 2 9% 9T% 6 994 99 26 104% 104 30 91n 91 3 1024 102 1024 8 107% 107% 107% 23 884 88 88 28 99% 99% 99 12 105% 105% 105% 4 111% 111% 111% 9 104 103% 103% 4 91 90% 9L 39 94% 93% 94%. 114 9345 Chi NW 4158 2037 Chi & NW 63%s..... Chi & NW 7s., Chi RI&Prfds. CRIPad4%swi Chi Un Sta 4%s. Clev Term bs. ... Cley Term 5%s. C&Sistds29., Colo & Sou 47%s. Cuba R R bs.. Del & Hud 1st rf 4s. D & Hud cv bs 36. Del & Hud 7s 30 Den & Rio G cn 4s D & Rio G imp 5s.. D Rio G West 5s. .. DRG & Wst 5878 971; | Krie 1st cons 4: rie conv 4s A Erieconv 4s B Erie cvt 53 67 wi. Erie conv ext Ts Erie (Pa) clt tr 4s Fla kast C 55 74 Gr Trunk stdb 6 3rand Trunk 7 Great North 5% Great Nor gen 7s. .. Green B & W deb B. Hud & Man aj 5s. .. Hud & Man ref 58 111 Cent 4% s 66. 111 Cent Chi 4%s 111-C-C-StL&NO b; Int Rapid Tran 5s. . 4 95% 96 1 106% 106% 106% 1106 106 106 1L 92% 924 924 38 100 9915 100 5 105% 105 105 9 9Th 9T 9TH 2 9k 9% 9l 3 98% 98 98y 5 102% 102 102% 3 110% 110% 110% 99 9874 8% TBY T8N 90% 90 90 6 1184 118% 118ia | 8104 103% 104 Int Rapid Tran 6s. Int Rap Trans 7s. Int&GtNor adj 65 52 Int RysC A 5872... Int Ry C A 6%s ret. Towa. Cent ist Kausas City 8 Kan City Term 4 ki 2 A T.alie Shore 4. . lehivgen 472 2003 O oo Long I8 deb b3 34.. 1080 1001 | Louis&Nash uni 4s. . %1084 17, & N 4158 2003 95% 95% 95% | Louis & Nash 7s Man Ry 1st 45 90. 2 105 104% 104% | Market St 7s 40. 59 101 100 Mil El Ry & L 5s 51. 85 104% 104 104% | Mil Bl Ry & L bs 61 54 99% 99% 99% | M St P&SSM cn 4s, 2 104% 104% 104% | M StP & SSM 6%s. 47 106% 106 106 MK & T 4sB. 8 108 107% 107% | Mo Kan&™ 4348 '18 21 99% 98% 98% | M K & T adj 5s. 37 86% MX&Tprinbs A, Mo Pacific gen 4s. . Mo Pac 58 F 77..... Mob & Ohio 4%28 77, Nassau El 48 51. ..., NOTex&M5sB 31 179 172% 173 4 93 92% 92% 12 92 91% 92 67 145% 143 143 4 106% 106% 106% 5 109% 109% 109% 1100 100 100 14 102% 102% 102% 22 104% 104% 104% 29 86% 85% 86% 28 96% 96% 96% 80 120 118% 118% 12 100% 100% 100%. 5 9% 79 79 NYC&StL6sA New Haven 34s b4, New Haven 3%s 56. NY NH&H db 45 57. NYNH&H4%s NY NH&H clt 6s. NY NH&H cv db 6s. N Y State Ry 4%s. . YWE&B4Yys orfolk & W c or Pac 3s 2047 orthern Pacific 4s, orthern Pac 58 D. Northern Pac r i 6s. Ore Wash 1st 45 Pennsyl gen 48s. Penna R R 4%5'63. Pennsyl gen bs. Pennsyl 5s 64 Pennsyl 6%s Pennsyl gold Peoria & K inc 4 PCC&SUL 58 B 7 Port R 1, & P s 4 Portland K1 P L 6s. Reading gen 4125 A RioG W Ist4s..... Rio G West ¢l 45. St T, IM&S 4s 29 StL IM&S gn 58 31. St L IM&S R&G 43, StL&SFpldsA.. StL&SKFr4les8, St1,& S ¥ prIn bs. 30 4% 1% 78 3104 103% 104 1 100% 100% 100% 5 101% 101% 101% 7 108% 108% 108% 104's 6 101 100% 100% 3 93 93 93 1111% 111% 111% 39 100% 100% 100% 65 103 102% 102% 3 107% 107% 107% 33 93% 93 93 13 92% 92% 4 100% 10Q% 100% 17 101% 101% 101% 9 104% 104% 104% 26 99 98% 98% 1 104% 104% 10} 19 94% 9, 94 42 104% 104 104 23 99% 98% 99 20 103 102 103 13 gf)V. 95% 954 | 9 9 |StLSWistds 11 96% 9614 96% | 5¢ 1,8 W con 48 § 66 128% 12614 126% | St P & KCShL 43%s. 16 104% 104 104 |San A& ArnPds.. 15 105% 105t 105% 11 110% 110 110% 1100 100 4105 105 1L 90 86 6111 108 19 96% 957 11 105 105 31 100% 106 4103 103 1 101% 1018 101% 5 107% 107% 107% 6 95% 95% 954 2 100% 100% 100% 107 107 4 110% 110% 110% 1 100% 100% 100% Seab A L con 65. 105 Sou Pac 4% rets Sou Ry gen 45 Sou Ry Con bs. Sou Ry 65 56 Sou Ry 6%s Tex & Pac Third Ave adj bs. .. Tol Tr L&P 5% 30. Union Pac 1st 4s. .. 7 101% 101% 101% | {1pjon Pac 1st rf 4s. 4 1027 102% 1027 | Union Pacific 4s 6 5 101% 101% 101% { {1nion Pac 43S 6 10 105% 105 irginia Ry 1st b 2108 103 Va Ity & Pos. .. 5 103% 103 “ | Whash 43¢5 78 rets, 5 105% 105% 105% | Wabash 15t 55... .. 20 107% 107 107 | wabash 5376 B.... 3 104% 104Y; 104% | \abash 518 75.... 8 100% 100% 100% | west Maryland 4s. . 3L 80% 79% 80 |\estern Md 5% 2106 106 106 |\yestern Pacific 55, 26 100 99% 99% | \est Shore 48 2361 3 91% 94 91% | \heel & L Ecn 45, 18 95 94% 94% | Wis Cen gn 45 49... 5107 106% 107 17 99 98% 98y 9 96% 96% 96% 5 97 97 97 179 163% 159 160 2100 100 100 91 94% 93% 93y 18 99% 99% 99% 25 101% 101 101 14 103% 103% 103% L o97% 97% 97% 18 96 95L 96 1 943 ) silver, $8.740,070.17; Sales. High. Low. So Por Rico Sug 7s. 4 105% 105% Cox o BONDS o scuner] Received by Private Wire Direct $e The Star Ofice Close. 105% 3 104% 104% 104% 2 113% 118% TennElecPow 65 47. 15 106% 106% Transcontl 0l 635164 106 United Drug 5s53., 16 98% 97% USRub1strf5s... 26 90% 90 14 = e wn ErRommrm? 88 omnace »e ©% 46 5 10 5 2 5 30 22 20 55 CMSP&Pacadj5s03.349 L T Lo rey- oy anB® T P EReRan~ 96 Int Rap Tr 5s stpd. 113 Eonurmpnme wHmeal Da--anxs aro oo Slonaa~en wisla - Ed TN e D B 8% S D e O 00 01 Gt e 12! mNcoaenSar 1 1 23 50 =R a® o e U. 8. TREASURY REC Treasury receipts November 19 were expenditures, 943 94% 517.20; balance, $119,529,201.94. Stand OII N J 55 46, 48 103 Yngstn S&T bs wi. 62 101 RAILROA 1 D. 102% 103 113% 106% 104% 98 90 100% 107% 104% 100% 90 106 103% in 106% 100% 943 91% 104% 83 100 1117% 110 112% 28% 62% 100% 94% 918 894 106 100% 92%, 103 100% 104% 82% 99% 99% 88% 894 82% SILVER QUOTATIONS, NEW YORK. November 21 (#).—Bar 57%; Mexican dollars, 43%. EIPTS. $9,713,~ jmon that led the way, making a new Market Influenced by Southern 1$4.94 on 4,407,206 shafes, against $5.50 CURB SPECIALTIES SHOW FIRM TONE Anchor Post Fence Is Fea-| ture—Price Tendency Proves Irregular. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, November 21.—Under another enormous volume of trading, new high records were marked up on the Curb Exchange today, but the movement of prices was highly irreg- ular. It was only the specialty favor- ites that were outstandingly strong. Elsewhere a good deal of realizing was in evidence, but in no instance did stocks suffer materially as a result of this profit-taking. The outsanding feature in the me- | dium-priced favorites was Anchor Post Fence. After opening at a new high of 41, & gain of a half point, the price went forward on the tape to 46, but was actually selling on the floor at 51 because .of the lateness of the ticker, which at times dropped a half hour behind transactions. Deere common maintained ite place of prominence in the high priced is- sues. Following the 40-point advance Tuesday, it was carried almost 10 points higher and there was little stock for sale on the way up. In instances such as these their technical market posi- tion was all that could be assigned as_the basis for the sharp movements. In the first two hours the volume of business totaled 1,131,300 shares, a new record for all time for a similar period. Prairie Oil & Gas jumped to the front as the leader of the oil group, making a new high record above 60, a gain of more than 3 points. asmuch as it is the largest of the mid- Continent units, assumption of lead- ership was a logical move in view of the favor with wich the oils are now looked upon. Standard of Indiana was in urgent demand at advancing prices. In the motor group it was again Mar- top above 79. Stutz followed closely, gaining over 5 points. Elsewhere gains of fractions to more than 7 points were common. Included among those to go to new high records were Dominion Stores, up 8 points to 156; Bullard Ma- chine, 7 points higher at 100; Nehi, up over 4 points, close to 30; Stroock, more than 3 points higher, crossing 50; Blumenthal, up almost 10 points, and a host of others. COTTON IS STEADY AT OPENING PRICES Selling—Undeytone Re- mains Firm. By the Associated Press. NEW YORK, November 21.—The cotion market opened barely steady at an advance of 5 points to a decline of 5 points. Near months were higher on covering by December shorts, but there was local and Southern selling in the later deliveries, which became more active right after the opening and sent prices about 15 points to 19 points net lower, with January selling off to 19.62'and May to 19.48. The report of the Census Bureau showing 11,320,302 bales ginned up to November 14 was quite closely in line with expectations, but its failure to stimulate demand was evidently a dis- appointment to recent buyers. This is supposed o account for some of the NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office Following is a list of stocks and bonds traded in on the New York Curb Market today: 4 Amer Dept Stores ... 2 7 Amer Gos & Bl 1i AT & b 4 Auburn Auto Co 3 Aviation Co of Am. 4Balab & Katz vtc Shoe: Boeing _Airplane Bohn Al & Br 3 Bt Celsttess id rit-Celanese” L 17 Buf Niag & E P. 4 Buf Ni 2 Crosse & Black pfd 112 Gurtiss Flying Serv. 23 Beere & Co. | Lead. . . 1 9 Fairchild_Aviation ‘A 9 Fanstell Prod 17 e 5 7 Federal Water A 122 Fiat deb rts .. re Assn Philad 13 Follansbee Bros Forhan Co 14 Fox Theaters A... § Fokker Aircratt “wi Am Iny 42 Mall Printing . 20 Happin C St A 7 Hart Parr . 24 Hazeltine Cor Harv new wi 4 Ttal Superpow 3 Joske Bros vic. 13 Kevstone “Atrcratt Hon Reg . 5 Mock Jud Voehr 8 Mohawk Hud Pow 35 Montgom War new 2 Monsanto Chem . 43 Montecat deb rts 8 Municipal Sery 4 Nat Food 7% 1 s wi 1529 93 lec 42 North Am Utiliry eariy selling. There was a continued demand from the trade and commission house sources which absorbed the offer- ings, however, andsgave the market a my undertone during the first half 3 EARNINGS REPORTED. NEW YORK, November 21 (#).—The Nickel Plate Railroad reported today net earnings increased to $5,182,950 in the past 10 months, from $5,047,880 in the first 10 months of 1927, despite @ falling off in gross revenues and net operating income Gross for the 10 months was $44,226,877, against $45297,877 in the 1927 period, and net operating income was $7,725,491, compared to $8,031,643 a year ago. Brown Shoe Co. of St. Louls and subsidiaries for the year ended October 31 reports net income of $1,451,757, cqual to $4.60 a common share, com. pared to $1,880,821 in the previous year. Net earnings of the Brazillan Trac- tion, Light & Power Co., Ltd., of Canada for the past 10 months totaled $20,- 585,085 before depreciation and amorti- zation deductions, against $18,394,841 in the first 10 months of 1927. . Net income of the North Central Texas Oil Co., Inc., of New York in the third quarter was $61,113, against $50,- 621 in the preceding quarter, and $43,- 979 in the first quarter. Chrysler Corporation of New York reported net profit for the first nine months had increased to $21,786,276 from $16,221,886 in the corresponding nine months in 1927, This is equal to 2 share on 2,712,080 common shares in the first nine months of 1927. Net profit for the third quarter was $10,- 095,797, equal to $2.29 a share, against $6,105,136, or $2.10 a share, in the third 1927 quarter. i ‘The annual report of the Liquid Car- bonic Corporation of Chicago for the year ended September 30 shows net profit of $1,230,367, an increase of $491.705 over 1927. <This is equal to $7.05 a share on 174,587 shares. Net sales for the year were $9,987,029, a de- crease of about 1 per cent compared with 1927. Outstanding bonds were re- duced from $3,942,000 to $978,000 dur- ing the year. Pathe Exchange, Inc., of New York, under its new management, shows a net_profit for the period from April 21 to July 14 of $65,338, compared with a loss of $415,389 for the previous 16 weeks. Net earnings of the Penn-Ohio Edi- son Co. of New York in the 12 months ended October 31 totaled $4,402,405, against $3,568,742 in the preceding 12 months, TREASURY CERTIFICATES. (Reported by J & W. Seligman Rate-Maturity. 3%s Dec. 15. 1928 4 Dec. 3%s Mar. 3%s Mar. 5, 15, 15, 15) 100 5-32 g o 100 16-32 98 97 30-32 9730-32 (Quotetions furnished by W. B. Hibbs & Co.) Noeminal gold Selling checks value or par). " today. 4.8665 3 pengo_ Prague, crown (nom.) Warsaw, zloty Zopenhagen, crowi 03967 1268512 266514 ‘267212 Dslo, crow) CrOWN. ... Stockholm, crown Price Changes Irregular. s PARIS, November 21 (P).—Price LTS Blyn Metal o 32 Real Assn 1 Reynolds 3 Rich Rad 1South Ice & U 3 Spencer Kellogg 1 Stroock Co . Shar. it & Bond ‘Al Sales in hundreds. 13 Carnegle Metals . 2 Com Tun & Drain Mines MINING STOCKS. 25% 80 16 40 Falcon Lead Min . 10 Golden Center M % 7 Hecla Min 16% 43 Hud Bay Min' & Sm. 203 21 Iron Cap Copper i 86 Newmont Mining 29 Newment Mining nda . 10 Yukon Gold hundreds. 114m Con olifids. s 10 Venezuelan Pet Salesin _STANDARI 1500 Anglo Am Ol . 2000 Cont'l OIl . changes were irregular on the Bourse today. Three per cent rentes, 64 francs 80 centimes; five percent loan, 92 francs, 15 centimes. Exchange on London, 124 francs, 12V centimes. The dollar was quoted ot 25 francs 69%, centimes. A 200 Imp O G " 100Ind P L. 4400 Inter Pet L 1100 Ohio Ofl . 200 Penn Mex Puel . 23700 Prairie O & Gas 730 South Penn O 500 Southern P L . [ T% 127Y 127Y 26 ' 28 433 4374 204V, 20413 % 56 ' 56 Sales in INDEPENDENT OIL STOCKS. D OIL ISSUES Al Sl R TEN UBSISIARIES S rOORs, | agricultw 98008 O Indiana . ogsg g Kensss® 3008 Vecutrn GI™. Sales in thousands. 44 A & Strauss k] Abitini B & P Tow. Moo BONDS. 35t %8 111% 110 01 30 AT 88% 8 By & 101% 101% 98% 98% 116 119 Alum Co Amer Bs.. 102 7 Alum Ltd 5: 98% 11 Am Aggre Cor 49 Am Con Alc_6: 9 Am Gas & El 5s. 2 : 37Am Sol 6las. Ry 78 E.... 109’ § Gene States Elos i e s cis de) Git Serv Bs oo vl 84 3 Empire O & R 5i3s.. 03 11 Fairbank! 58.. 48 Fed Wat Serv s .. 1 WEIES ao_wos o, 2328820 2=2 5. S 3 Gatineau_Pow 650 13 Gen Am Tnv 55 A Ww 89 5Gen Laun Ma 64as... 105 3Gen Rayon 6s 2Gen Vend 6s.. 5 Georgia & FI 10 Georgia Pow Ss... .. 3 Gulf Oil Pen 5 '3i. 1 8Gulf Oil Pen §s ¥ 1Hood Rub s £ 33 Houston Gulf G 8i4s. 1 Houston G G 6s A... 211Ind OIl & Gas 6s. 2agus Corp 6s...... 5 Kimberly Clark 55 A. 9 6Kob Gas & Coke 5s.. 1Lehigh Pow 65 A.... 106/ 5Libby McN & L 3 Lone Star Gas 5 Manitoba_Pow 2McCord Rad 6 1 Milwaukee Gas 47 Minn P & I 41 5 98%4 525 K 101ty s . 97% FRITTIERoOLLEas FEEE e rcn S ararn B o S £ 8 Solvay Amer 55 A... 9835 Southeast B & 1, 6. 1071 Ed 3 ‘511010303 Switt & Co 8s. 5 Texas P &n 19!51 H e ) 2Uni Lt P.::ll 8 518.. 6s ALl 102 10 8s a4 ow 56 A. 100% 1 27 Western Pow 5125 A. 107% )7 5 Wheol 8t1 448 B-.... 80 7, | sates FOREIGN BONI 13% | in thousands. PN 9 Adriatic Elec 3 Agri Mor Ba 7 Berlin 1 Bolivia, 7s. 2 Cen Gei § Som & Pri Bank Dia s. (A 0 & Co 6V 3 In k Finl' 21 Isotta Prashini 7s... 108 Isot Frashini 7s s 7 d 108 Tietz C 7%3 ww 102 5 Tombard B 7s A ww 95 2 Mansf M&S 75 *41 ww 96 10 Mendoza _ 77.3 '51... 9 1Minas Gerates 7:s.. 92 4 119% 901 Pe. Pay- Hldrs. of . abl . e, " record. 2 Dec. 14 1 sc Q eake & Ohi0.$2. o Yetlow Cub.350 M 2% M o pf ... Dahlberg_& Detroit Edison Elgctric, Stor. B pE Equitable_"Trust’ General Ry Sii 0 i otham S reenway Do pi Do 5% a% Do 36 pf ... q Hocking Valley' Ry $2.5 Hudson Motor 1.2 Loews, kY 244 18% 6 o 59, 59% 153, 1534 £d B! B2 BER 0ee E S G rtn e RS S e BT B 3! £54 2310, New England T. & T.5: No. Am. Ofl.. ... N. Ct. Tex, O pf..31.62) Rem'gton-R. 1st PL31. Do 2d pf . 8t L. Screw & B! Do . H SRRy gaas 10% o " 80" 57 57 4 38 337 108 By B 3% 3% s sbos Y Un. Cigar Stores Tilinois Pwr 67 E o 7% i 13% Q Jan 2 Bost W. Hose & R/3150 Q Dec. 15 Do pf $3.00 SA Dec. 15 Boardwalk Sec. 25 25% (Cin. N. O. & T. e Loews, 'Inc . 15% "15% | National Fire 320" 320" | ParaMne Cos 95 95 Jan. 1 Dec. 15 e 90, [ Backstay wert . 1872 1'% | Catells Dec. Jan. 15 Dec. M. P. pf 20 |First Me. Inv. “B' 3% kA Rumidor Corp’ . raffie Cos Pat Dec. 27 g3%e | Phelvs " Dod Jan. 2 Jan. Jan. 2 2 Dec. .$525,000 FOR SEAT. NEW YORK, November 21 (#).—For %4 | the first time in the history of the New 3% | York Stock Exchange a membership 7234 | sold for more than a half million dol- 1123 | lars. Today’s seat brought $525,000, an 74 & | increase of $30,000 from the lasc sale, 6% STt 20 _,é’z HARDWARE TRADE GAINS. 35! NEW YORK, November 21 (Special). —A steadily increasing interest in holi- day and Winter lines of merchandise is evident in the rdware trade throughout the country! Hardware Age will say tomorrow. When measured by the experience of this period last year, general business looks very good. 3(; | Building is continuing in good volume 17 |in most sections and staple lines are 8% lenjoying a healthy demand. The generally satisfactory condition in the ! ral and industrial districts presage a steady improvement for some time to come. 'The beginning of the Winter season finds no heavy dealers’ stocks on hand and jobbers and manu- facturers are already receiving sub- stantial orders. . Prices show a decided firmness and in some i{ems advances are appearing. ‘The e for collection is fair. 1 a1 9%y lGDRN PRICES RISE TO NEW HIGH MARK Reduction of German Import Duty Proves Bullish Market Factor. By the Assoclated Press. CHICAGO, November 21.—Corn ad- vanced today to above the highest price level which March and May deliveries had heretofore reached this season. Re- duction of the German import duty on corn counted as a decided bullish factor. Opening at ¥ic off to Yic up. the corn market soon scored gains all around. Wheat and oats were likewise firmer, with wheat starting unchanged to %c up, and subsequently showing a general advance. Provisions were ir- regular. According to trade authorities here, the corn market situation, so far as export trade is concerned, will get 4 | material further strength from action of the German government in cutting down the German corn import duty from 30 cents to 15 cents a bushel. ‘This reduction, it was asserted here to- day, will increase the industrial demand *{from Germany, a demand which for the next six months will of necessity call for American corn. Resulting price advances today for corn in Chicago were in the face of announcement that 4 | nothing will be done about increasing the United States corn tariff until Pres- ident-elect Hoover returns. Wheat values today derived consider- able firmness at times from upward swings of the corn market. In addition, reports were at hand from Rosario, Argentina, telling of heavy rains. The wheat harvest is under way in territory north of Rosario, and rain at this time would be seriously unfavorable. PSR RAILWAY TRUNK LINE PROPOSAL IS INDORSED BALTIMORE, November 21 (Special). —With the way virtually cleared for creation of a third railway trunk line between Baltimore and Chicago, busi- ness men of Baltimore and towns along the proposed route are massed solidly | behind the proposal with money and in- fluence to make it a success. ‘The trunk line will consist of the Western Maryland Railway at the east- ern end, the Pittsburgh and West Vir- ginia in the West. and a link between both, now being built between Connells- ville and Cochran’s Mill, Pa. ‘The Taplin brothers of Cleveland will roceed with construction of the small ink road, following the Interstate Com- merce Commission’s refusal to block the proposal. ‘When the Connellsville-Cochran's Mill link is completed, the Taplins will ask the commission for authority to create the East’s fifth big trunk line from the ‘Western Maryland, Pittsburgh and West Virginia, which they practically own; the Wheeling and Lake Erie and the ‘Wabash., SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Allis-Chalmers Co. 5s 193 Aluminum Co. of Amer. 5s ‘American Tel. & Tel. 45 19: Anuconda Cop, 9 Balto. & . 99° 952 10135 20... 993 Califcrnia Pet. Corp. Canadlan Nat'Rwy. 4143 1 Oil of Pa. 53 1937, Humble Oil 5%s 1932 10! Michigan_Central Ry. ds 1939, Short Line ds 1929 . 5Yas 1937 5194 Sinclair Crude Of Southern Pac. R _R. 4s 192 ndard O Swift' & ‘Co. 55 1932 . 1 Unicn Ofl Co. of Calif. 53’1935, U. 8. Smelting Co. 5!3s 1933... 10 Western Electrie Co. 55 1944, .. 10° Westinghouse EL & M, 55 1946. Wheeling Steel Corp. S%s 1948, Second Trust Notes We will buy your Second Trust Note if desirably secured 6n im- proved property in the District of Columbia. Prompt Attention to Applications National Mortgage & Investment Corporation 1004 Vermont Ave. N.W. Main 5833 SN First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. ‘ WILL BUY ) | | Real Estate Mortsage & Guaranty Corp. | | COMMON STOCK | B. HANSFORD WILLS CO. | Barr Building \ Phone Franklin 3733 First Mortgage and Construction Loan Applications Invited at 5% Glover & Flather 1508 H St. N.W. Main 1753 Mortgages Investments JAMES Y. PENNEBAKER Main5328 1520K St.N.W. LOANS Let us have your applications for ‘LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks for itself. Percy H. Russell Co. | 1731 K St NW. | @ i e O REAL ESTATE | NOTES | Secured by First Trusts Conservative Appraisals Chosen Locations 6% Interest WEM.BEO REALTORS 809 15th Street N.W. REAL ESTATE LOANS 5%9 Homes, Apartments and Business Properties In District of Columbia and Nearby Maryland-Virginia 3-5-10-Year Terms Prompt Replies Randall H. Hagner & Co. (Incorporated) Decatur 3600 1321 Connecticut Avenue Mortgage Loan Correspondent New York Life Insurance Co. 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 Connectieut Ave. at De Sales St. Telephone Decatur 780 Resident Partner Offices New York Warrenton, Va. Paris, France Ladies Room Reserved—Complete Trading Fac: I T I T Il [T [ (T I Equ‘;'i;lble Co-Operative Buil;ling Ass'n JOHN JOY EDSON, President Organized 1879 etsscesacananansl $5,513,051.63 Assets WALTER S. PRATT, Jr. Secretary YEAR COMPLETED 48th Surplus & Profits $1,601,704.98 Subscription for the 96th Issue of Stock Being Received Save Systematically in the Equitable Your savings will ac- cumulate more rapidly if deposited in the Equi- table's systematic plan of savings. Come in and let us explain-about the plan. No matter what you are saving for . . . a lLiome, old age, your chil- dren’s education . you'll find the Equ table’s systematic sav- ings plan a great help. Start NOW and watch it