Evening Star Newspaper, December 2, 1928, Page 51

/ ‘ FINANCIAL. + TRADING IN STOCKS | CONTINUES ACTIVE Utilities and Rails Follow!! L Industrial Shares in Spec- | ulative Move. 103 2 116 100 | 114y 110% 100 e o 96 BY CHARLES F. SPEARE. 108y @pecial Dispatch to The Star | 1091y NEW YORK, December 1.—A combi- | mation of events, some new, same pre- | sented in a more seasonable dress, has | served this week to stimulate specula- | tion in stocks and to produce market of eater breadth and intensity than any || eretofore witnessed. The proportions of trading on the! New York Stock Exchange. big as they are, do not indicate all that is taking place in stock dealings throughout the | country. Nor do those of the Mew York Curb, in which daily transactions | g, have reached 3.000.000 shares. Every | gy local exchange in the United States 15| jogs, aeething 1023 Sales on the Chicago Exchange last| s7 week were six times greater than in| 91 the corresponding week in 1927. The | 104% par value of stocks dealt in on the San | 101 Francisco hange was more than | 1081, double that of e year ago, and in Los | Angeles nearly four times larger while the appreciation in the mmhr"]l\ value of securities on the “big board” lest month would " have twice cov r|r‘dk the tolal United States cebt prior to the war, there was. in addition, an| ncement in local securitics stantial amount. nlisted Stocks Active. The scope of the buying movement | ' fm\ even beyond the official exchanges. or there are hundreds of unlisted ! stocks in every active market center that are playing their little part in business. The additions to of securities in the last three months have heen enormous, as reeourse to stock instead of bond financ- ing has been found necessary in order to meet. the requirements of investors who are no longer content with “safety and 5 per cent.” the incidents 03% f107 105 105 103% 106 100 107 95 1057 | 116% 11281 930 96 promoting a | 1031, ying of [ 1064 securities have been increased dividends, | 107 extra dividends, additional “rights” to ! 102% subscribe to popular shares. rumored | 105 consolidations, the complacent attitude | 96 of leading bankers toward the stock | 86 merket, which they were discrediting 102 six months ago. and the expectation of | 109t some constructive action by the Con-| 96 gress which convenes next week, as|108 well as suggestions for the reliel of cer-|104 tain economic ills in our national life | 108% Jooked for in the President’s message. 103 With the recent addition of railroads | 105% and public utility shares to the list of those in which speculation has rampant, the market has completely rounded itself out, although it is still unbalanced in the direction of tog high | an average for industrials compared with the average of these other two important bodies of stocks. One by ene the laggards have come into line. first the coppers. next the oils and now the shares of the great transportation and electric light and power companies. 1f there is market slack to be taken up it is in the way of establishing parity between the vield on the so-called in- westment rails and the investment in- dustrials. Money Conditions Ignored. In neither group, industrials or rails, ner in that of the public utilities, is there any apparent consideration being ven to the existing money situation. | is week we have had a return to the extremely high rate on call which | first 2ppeared in July and was repeated in the early part of October and which might have been expected to cast a chill over the market, High money, however, seems to be a tonic to specu-| lation this year. If these higher rates are having the effect of discouraging those compelled to absorb them, such effect is not noticeable. Bankers have been for six mon'hi‘ repeating the statement that the “eredit situation would gradually cor- reet itself.” Except for the decrease in member bank rediscounts with the! Federal Reserve system there is not the slightest evidence that correction has taken place or that it is in sight. It is certainly a remarkable situation ‘when money markets in the country of the greatest gold supply in the world, of the largest individual bank deposits, and with a credit balance that is the despair of all Europe, should be quot- ing money rates twice as high as those of London and Paris, higher than those of Berlin and as high as those of na- tions whose bonds can not find buyers in New York except at a prohibitive discount to the would-be borrower. Dealing specifically with the railroad stocks, which have finally found a place in the speculative arena, the legitimate basis for their advance is the splendid recovery hoth in gross and net earnings that has followed the poor results of the first half of the year. These earn- | ings have already prompted the di-| rectors of the Chicage & Northwestern nd the New York, New Haven & Hart- rd to a more liberal dividend policy. As November and December revenues are also likely to show substantial gains over last year, it is not unlikely that other carriers will .be inclined to share ® larger proportion of their profits with stackholders, as they may well do, for the experience of the past seven years | should by this time have taught rail- road managers that they have no better standing with State commissions or | with the Interstate Commerce Commis sion and are no less subject to rate re. ductions when they pay a reasonable | dividend in proportion to earnings on stocks than under the ultra-conservative policy of using a large proportion of | sarnings in property invesiment | The New Haven has probably gone | %00 far in the direction of the dividend mlicy of the industrials in paying out wo-thirds of its current earnings. On the other hand, raflroad stockholders have a right to complain when they receive 5 and 6 per cent dividend on stocks that are earning from 10 to 12 per cent, with even better prospects in | sight. Utilities Reflect Confidence. . It perhaps not necessary tn ex- plain the last rise in the public utility | jog shares by other than the confidence in > 1055 fair treatment of public service ecor-| porations during Mr. Hoover’s adminis tretion. In addi‘ion to t there are | 1”1, large projects under for the intense | 10 @evelopment of electric properties in 107y the great smetropolit district of the | 107y, eountry. These have been hinted at in | x1u this week’s rise in the stecks of Cen-|1lely solidated Gas, Brooklyn Union Ga BURY Public Service of New Jersey, People’s| ulm Gas and Deiroit Edicon, 2s well as in | gy these of the California companics. | 735 Eur lementing these proposed develop- | g% 5 in their effect on prices has been | 111 B it oontion recently of a large num- | |164 ber of investment trusts specifically | 100 dsaling in public utility securities and | v eking out of the market cubstantial| e blocks of high.grade stock of this par- | 144 ticular group. 113 The danger of overplaving the jyoiy favorable factors in the business situa- o4 tion and of exaggerating the importance | »9 of them. as well as the temptation in| g9 such times to circulate fa'se rumors to | u7 assist market operations, crops out each | 93w week. It led, Friday, to a serious situ 934 tion in an unlisted stock il | — be duplicated some day in perhaps a| 98 half dozen listed issues when the public | 76% takes fright) and to two denials<by| 58% heeds of large corporations of reports| 99y sffecting their concarns. In most cases, | 100% however, industrial manag have | 95% found it of little use to refute state- | 98l ments manufactured in Wall Stroet,| 93% knewing that they will most likely be | 114 laced in an embarressing pesition as | 128 eir storks continue to advanece in| 166 sDite of thelr efforis at preserving a | 100 rq«-wmn- price basis for them. To be | 110 te 1o a situation and to have “too Cf rate a knowled of ®aluss has n the unpardonabie sin in Wall 'eet the past year, 88 g ¢ H\:l» BOND 10330 102 25 | 10412 103 13 100 8 105 w 8.4 ATy 98 1014 104 104 100y 100'% 1044 98% 101 £3 103% 10614 103% 88ly 8614 luov 951 1074 8215 1025 49t 104% 101% 1034 841y 781, 94% 98 »8 86 10612 119% 56l fres 1024, 28% 1 104 100 B 1 109 1028 100 4 P4 1047, 101% 1013 157 1131y 1104 90ty 108% 1004 10112 104% 10515 1i07% 1088, 100 106% 1024 106 100 109 9344 1081 187 241 S g 25 h INDUSTRIAL AND MISCELL JUTEN 10s7% 1003 «ms 103 15 100 1019 99 20 98 10310 989 US 10930 US4lgs 1947 THE SUNDAY U. 8. BONDS. Law, Tield. Liberty 3ias 193 Liberty 18t 43 s 193 Liherty 4th 44 s 1933 U S33%s1940-43 4s 1943-47. mn Lmv 9 16 mn 30 m» 12 101 100 24 99 11 8831 99 24 99 4 1221 1129 Prev UMMARY FOR THE WEEK FOREIGN. Argentine June b8 1959 Arzentina fs A-1987. Australia 58 1966.... Austria is 1943 . Bank of Chile 145 1 Baigium 88 1966. . Reiglum 1%s 1945, Beigium ¥s 1941 Rardesnx fs Brazil 6ls 182 Brazil 48 1941 .. H 100ty ‘hinese Govt Ry Copenhagen 5s 1952. . 2zechosiovakia 88 1961 Denmark 68 1342 uteh East Indies 88 IflIT Duteh iast indies 63 1963 Freanch (Government 7s 1949, rench Govt i 44s 1941, terman ia 1949, . Irish Free State 55 '60. taly 1s 1961 lapanese #1489 1964 . Mexico 4s asst small 1904 Milan 6481952, . Netnerlands 6s 1972 Norway b%s... Paris-Lyan Med 6a 195! Peru 65 1960 Peru 1s Poland 83 1950. Queensiand 6s 1947 Queensland 7s 1941 Rhinelbe 7s... Rio de Janeirs 85 1948 Rome 6 s A2 a0 Paulo State of. Sweden s 1939.... Swiss 58 1948 Toho Elec Pwr Utd Kingdom .w.. i ) Yokohaina 68 81 95% 10415 101 104% 101 104 994 106 8 105 T Aimner ARriChemical 1%s 1941... Amer Smelt & Ref Lst 58 1947, Amer Sugar Retining 6s 1937 Amer Tel & Tel cl tr 48 1929. American Tel & Tel s f 58 . Amer Writing Paper 8s (19 Anaconda Copper 6s 1963 Anaronda Copper ov deb is Andes Copper 7s 1943 Armour & Co 4%8s 1989, Armour of Del 5% 43. Atiantio Refining deb 55 1931 Barnsdall Corporation 6s 1940, Ball Tel (Pa) ref 5» 1448, tiethlehem Steel p m 53 193 Hethlehem Steel = f 68 1948 Chile Copper 5s (1947) Lon 1 Md) Ls rI Cuba e%.. Sug ¢ SAison ror 88 1940, 102% 148 108 1011 10412 Kastern Cuban Sug 748 1937 General Motors 6s 1937. . GGoodrich (B K) 818 1947.., Humble Oll & Ref &%s 1932, Indlana Steel 68 1962. International Match bs 194 Inter Mer Marine 68 1941 Inter Paper 58 A 1947 International Tel and Tel 4148, Kayser Julius 54s 1947..,. Kelly-Springtield 8s 1931 Laclede 5%s... Liggett & Myers 58 1951. Manat! Sugar s f 7%s 1943.. 1 68 1936. . d Tel bs 1953 106% 1144 99% 107 Northern States Power 6s. Pacific Gas & Elec 58 1943, Pacific Tel & Tel 5= 1963, Pan-American 63 34..... Philadelphia Compan, Postal Tele & Cabl Public Service 4123 Simms Petroleum 6: Sinclair Oil 6s 1930. Sinclair O1l 7s 1987, Sinclair Crude Oil 5%s 1938 Standard Oil NJ 58. ... Transcontinental Ofl 6145 '38 United Drug 5s 1953 U S Rubber 7%s 1930 U S Steel s f 531963 Utah Power & Light Western Unlon T Wn.nu & Co 18 Youngstown Steel il 197I RAILROAD. Atchison T & S Fe zen 4s 1995, Atlantic Coast Line st 4s 1963 Balto & O 15t 0ld 45 1948, Balto & Ohlo cv 448 1933 Balto & Ohlo ret 5s 1996. B&OPittsLE& W Vads 1901.. B & O Southreatern Div 58 ofs 50 Hrookiyn Mauhat s £ 65 A | Canadian National 4148 195 Northern 6s 194 n Pacific deb 4s Central Pacific 4s 194 Chesapeake Corpn 58 w 1., . Chesapeake & Ohlo ov 448 1930.. Chesapeake & Ohlo gen 4% s 1993, Chicago Bur & Quincy 44877 B,, Chi B & Quiney 1st ref 58 1971... Cht & Eastern 111 gen 68 1951, Chi Great V Chi MStP Chi & Northweatern § 48 1938+ Chi R 1 & Pacific ref s 1934.., Chicago Rock Island 4%s Chi Union Station 6l4= 1963. Chi & Western Ind con 4s 1 Clev Cin Chi & St Louis §s D, CCC& St L ret 6s A 1929 Cleveland Terminal 5% Colorado & Southern ¢ % s Cuba R R 68 1952. Cuba Northern 5145 1942, . Den & Rio Grande con és 193 Den & R G West 55 1966. Detroit United 448 1933, tirie ov 4s A 1953, tSrie gen lien 48 1996... Erie ref 58 196 la 5 Cbs 74 Grand Trunk s Grand Trunk 78 1 Great Northern ¢ Great Northern gen 548 191 Great Northern gen 7s 1936 Hudson & Manhattan ad) 68 1957, Hudson & Mannattan ref 5s 1951 . lllinois Central 4%8 6 100% 116% 834 104% 100 1004 115% 884 104y 1601 115% Baly 103% 1004 Int Rwys of Cent Am 638 1947. n C 't Scott & M 48 1936 City Southern 3s 1960, Kansas City Southern 58 1960, Lake Shore s 1931. Louis & Nash unified 48 1940 il Elee Ry & Lit 18t ref 68 61,0 ne MSUP&SSMEKE1981.0rraeee Mo Kan & I'ex 1st 48 1990... Mo Kan & l'ex ad) bs 1967. Mo Kan & Tes pt in 5s A 19| Missour! Pacitic gen 48 1976. Missouri Pacifie 58 F'....... New York Cent cer imp 58 201 New York Central deb s 1936, NYChi&StLrefilosA'T4. NYChi&StLrefl;sB'75 New Haven deb 4» 1ysl N YN H&Hcvdeb 6s 1948 N Y Ry 6s1986..... N Y West & Boston ¢4 s 1948, Norfolk & Western con ¢s 1996, Northern Pacific 3s 204 Northern Pucific 48 1997. Northern Pacific 5s D 204 Nortnern Pacific rer inip 68 ¥ 7. Ore Short Line cet 4s 1929, Ore-Wash Ist ref s 1981 Pennsylvania gen 444 s 19 Pennsyivania gen 5 1988 rennsy(vania ks 1936 vere Marquette Ist Keading 4 s 1997 Rio Crande W RIATK& L 4% SILIMESR&G 48 StL & San Kran or in 4w & 19 StL & San K'ran ine & St Louis San Fr 415878, .... SUPKCS Line e 198l Seaboard Alr Line ref 1959 Seaboard Alr Line ad) 58 1949. Seaboard Alr Line con 6s 194! Southern Pacifio v 48 |9 Southers Pacific sol 4, Southern Pagific ref 48 1986, Southern Ry gen 45 1968 South Ry 18t 58 1494 Southern Rv dev s 195 Chird Ave adi 58 1960 . Union Pacttic Lst 48 194 Virginian Ry Ist bs 1962. Wabash 18t 58 1989 Wabash 5% 1975 Western Maryland Western Pacifio 58 1948 1004 w7 1044 100 81y 911y 107 107 1061 113% 9875 884 100% 103 1104 £24 Yty 0 12 " | ceeded by only one other month, Oc- | months | of September of this year. STAR, WASHINGTON, Wall Street Brief General Baking Oo. of New York today acquired Kolb Baking Co.’s plants and pmpertv at Albany and Sche- nectady, November sales of Montgomery Ward & Co., were the largest November in the company's history and were ex- tober, 1928. November sales were $25.- 456,106, compared to $21.382.264 in No- vember, 1927. Sales for the past 11 were $200,402.918 against $177,395.311 in the first 11 months of 1927. November was the seventh con- | secutive month to show incre: aver the corresponding 1927 month. Sales for the 11 months practically equaled sales for the entire year of 1927. Sir John Cadman, chairman of Anglo-Persian Oil Co.. has arrived for a two week's visit to this country. He will address the American Petroelum Institute Congress. New York Telephone Co. directors have authorized expenditure of $6,487.- 585 for new constructiom in its ter- ritory, bring the total appropriations since the first of the year to $69.328.041. Of this sum. $57.502.959 was for the metropolitan New York area. ‘The New York Clearing House As- sociation today reported record-break- ing clearings of $2,521,000.000. The | previous record was $2.413.000.000 on July 3, lls - B . &O. HAS GAIN IN GROSS. For the first time since May. 1927, the Baltimore & Ohio experienced a gain in gross earnings in Octoher. when total revenues were $22,851.505, increase of $899.244 or 4.1 per cent over 'hp’ | corresponding month last year. Oc- | | tober gross was also $1.800.000 ahead | the credit situation under control. L D. C, DECEMBER REDISCOUNT’S ADVANCE REGARDED AS SERIOUS Spectal Dispatch to The Star. NEW YORK, December 1.—In bank- ing circles today there was much dis- cussion of the sensational advance this week of $180,000.000 in the total re- discounts of the Federal Reserve Sys- tem. This was regarded as a more serious development than the increase in_brokers’ loans of about $133,000,000. The. Federal Reserve has been suc- cessful until this week in reducing the borrowing of the banks. While this has been going on there has been little concern shown over the mounting fig- ures of loan: With both rising so rapidly. it was felt today that the Fed- eral Reserve authorities may have to | adopt more positive measures to keep Just how this may be dene is not at present evident, although it will not take the form of any further increase in the rediscount. rate now in effect in 8 of the 12 Federal Reserve districts. December promises to be true to the old traditions of a month when the highest call money rates of the year are recorded. Pressure on the money mar- ket from many directions is being felt and will become more intense later. At the moment the effect of the Thanksgiving withdrawal of currency and the beginning of demand for Christmas currency is operating as an adverse factor and along with it the payment of December dividend and in- terest money aggregating about $500,000,000. It was significant that in this week's loan increase the account of “all others” changed very little and that there was an increase of only $18,000,- 000 in the loans of out-of-town banks. On the other hand, the New York banks expanded their loans over $108,- 000,000 after having been for tome time leaders in the movement to reduce such loans. Financial High Ligh Brought Out in N Spscial Dispatch to The Star. NEW YORK, December 1, 1928. ‘Smck! (average of 50 issues).. Bonds (average of 40 issues).. Foreign bonds (average of 10 issues). Federal Reserve ratio. Money rates in New Yor! Call Time Unfilled steel orders. Pig iron production. | Building permits: Number of cities. Amount $29. Number Liabilities . Revenue car loadings: All commodities. Grain and grain products. Coal and coke Forest products. . Miscellaneous products Ore ..d.. Live st(’k $3 Commercial failures (R. G. Dun & Co. repor'.s\ Week of Nuv 17, 1928, Previous week. Year ago. 1, 1,053,205 ts of Past Week utshell by Statistics ‘This Week. High. Low High. Low. 22832 . 22401 22578 221.21 Thh WPPk Last WFPk cee 105 72 !05 79 This Week. Last Week. Year Ago. | . 65.2 68.4 1.2 Last Week. This week. 612 to 10 695 to 7 Month of Sept., 1928, 3.608.368 102,077 Last week. 6 63 to 7 Month of Oct., 1927, 3,341,040 89,810 Month of Oct 32! 108 800 585 533 ( 3,006,606 $267,261,008 $206,172,437 023 1,635 2,023 4900474 s356088 36205872 977.973 | 46.479 | 195,521 50.568 | 338,286 13,054 35.481 35.033 | (Reported by W. B. Hibbs & Co., H OCCURRING ON THE WASHINGTON INCLUDING FRIDA PUBLIC UTILITIES. Anacostia & Potomac River R. R Capital Traction lst 5s, 1947 ©. & P. Telephone 1st 55, 192 C. & P. Telephone of Virginia burban Ry 1st 55, 1948 Georgetown Gas Light 1st 5s, 1961 . Potomac Electric Power 1st 5s, 1920 Potomac Electric Power cons. 5, 1936 Potomac Electric Power gen. Washington Gas Lizht gen. 5 Washington Gas Light series A 6s, 19: Washington Gas Light series B 6s. 10: Washingten Railway & Electrie cons. 1st MISCELLANEOUS. Barber & Ross 6'as. 1937 .. Chamberiin-Vanderbilt Hotel 6 Chestnut Farms 6les. 1841 . Chevy Chase Club 1st 3'zs, 1976 . Wardman Park Hotel § Washingten Arcade 6':: Waghington Consolidates p 1 Washington Market Cold Storage Ss. PUBLIC UTILITIES. Capital Traction . Norfolk & Washingthn Steamboat Potomac Electrie Power pfd. Potomac Electrie Power pfd. Washington Gas ..... - Washington Railway & Elec. com Washington Rallway & Elec. pfd.. NATIONAL BANKS. Commercial District Farmers & Mechanics Federal-American . Liberty Metropolitan Rigas 265 Riggs warrants Becond Washington TRUST COMPANIES. American Security & Trust Continental Trust : Merchants' Bank & Trust National Savings & Trust Union Trust ... Washington Loan & Trust SAVINGS BANKS. Bank of Bethesda Commerce & Savings East Washington 8avings Potomac Security Savings & Commercia FIRE INSURAN Tiremen's National Union .. TITLE INSURANCE. Columbia .. Real Estate . Title & Invest. Co M . Washington Cons. Title Ins. nxd MISCELLANEOUS, Barber & Ross. Inc. com ..... Chestnut Farms Dairy pfd. . Chestnut Farms Dairy com. Chevy Chase Dairy pfd. : Columbia Sand & Gravel pfd. . Commercial National pfd D. C. Paper Mfx. i District Natienal Security pfd. Federal-American Co. com. . Federal-American Co. pfd. Federa) Storage Co. pfd. . Lanston Monotype : Merchants' Transfer & Stg. com Merchants' Transfer & Stg. pfd.. Mergenthaler Linotype National Mtge. & Inv. Co. pfd. Peoples Drug Stores pld .. Peoples Drug Stores pfd. Sanitary Grocery ptd Security Storage ...... Terminal Ref. Whs. Corp. ... Washington Convention Hall pfd. Washington Medical Bldg. Corp. Washinston Mech. Mtge. Co. com. Wuodward & Lothrop pfd . UNLISTED Army & Navy Club 55, 1961...... Cosmos Club #'-3 (retired anpually) Metropolitan Club 4'zs, 1935 BONDS. Chapin-Sacks 15t pfd Miller Train Control Raleigh Hotel Departmental Bark . Munsey Trust Co. Park Savings Bank THE YEAR 1928 TO DATE ON THE WASH. INGTON STOCK EXCHANGE. BONDS. Washington Railway & Electric gen. 6s, 1933.. District of Columbia Paper Mfg. 6s, STOCKS. Par. valie. rate. 100 100 DEPARTMENT. ibbs Building, Washincton, D. C.) STOCK EXCHANGE FOR 1928 UP TO AND Y. NOVEMBER 30. Approx. It Close. maturity. 964 5.30% 103 4.80% | g 9 5% | a68% | 5.50% | 4.80% Open. High. Low. 100 101 96 104 105 1009 100% 101'4 1041 10415 99 1004 104 105 1013, 1013 1031 104 109 10612 1061 10912 2414 1041 55, 1949 33 . 38 .. 4s. 1051 0714 29 108 1038 .. Div. Low. Close. 1037, 1067a 30012 304%2 110 n2 198 1061 81061, 425 425 9 9% $7.00 12.00 .00 5.50 3.60 7.00 256 237 325 335% 245 400 408 205 265 305 258 237 330 336 253 405 560 306 270 810 450 135 130 500 310 508 453 135 138 500 331 51134 6 330 35 325 Yield. 54% 51% 5.8% 5% | bushel, but it takes clean and dry stock 585 to bring top values. Yams in better de- 5% 1928—PART 2. FINANCIAL. ol l Baltimore Markets Epecial Dispatch to The Star. BALTIMORE, Md., December 1.— The Thanksgiving pnultry market, both live and dressed, cleaned up fairly well | and little stock was carried over the | holiday. Receipts of dressed poultry | were rather light and mostly of ordi- nary stock and the demand turned more to live than dressed poultry, especially turkeys, While there is a fair demand pre- vailing at the present time for fancy fat dressed turkeys only moderate ship- | ments are advisable until the Christmas | demand starts. Receipts of live tur- were rather heavy on Monday and Tuesday, but fell off Wednesday morn- ing and with the lower values prevail- ing all desirable stock cleaned up read- ily but the demand is now limited and it takes choice, fancy stock to bring top values of 40 cents a pound for young turkeys, 8 pounds and over, while old toms and old hens sell mostly 35 to 38 and poor and crooked breasts are gener- | ally slow sale at 25 to 30. Demand for Spring chickens increasing and market | holds firm with values a shade higher at 27 to 32 for mixed colored Springers | 1'2 pounds and over, with 2-] pnuudl broilers bringing top values, but Leg-| | horns will not bring over 25 and 26 and | all poor, thin stock moves slow at 20. ‘ Demand only fair for old hens 3'; ounds and over at 22 to 28, and Leg- | orns 21 and 22, while poor, thin stock is neglected at 18 to 20. The market for ducks and geese holds easy under ample receipts and only fair demand at 22 to 25 for large fat fowl. But small, poor stock is slow sale at 18 to 20. Market for guinea fowl and pigeons holds steady at 40 to 85 each | for the former and 30 a pair for both young and old of the latter. With the | exception of choice to fancy dressed tur- keys and young chickens which bring | a premium of 2 cents a pound. dressed oultry will not bring any more than ive, which is generally ‘preferred on this market at this time of the year. Egg Receipts. ! Receipts of native and nearby P!gs’ have shown an increase the past week | due to the open weather prevailing, and the market while holding steady price has a quiet undertone. Many of the receipts from nearby points can only be termed current receipts, being mixed with held eggs. which show a loss under the candle, and will only average | current receipt prices, Top values can only be obtained on strictly fresh new laid eggs, and careful grading is nec- essary to bring top prices of 52 cents a dozen for selected whites in free cases, or |47 cents for firsts, while current re- | rclpts will not bring over 45. Receipts of white potatoes have been liberal from all seotions the past week and under only fair demand. The mar- ket rules easy at 1.00 to 1.10 per 100 pounds for No. 1 well graded round | stock, but McCormicks and Reds will | not bring over 80 to 90. Sweet potatoes, | | also in liberal receipt and under limited | demand prices, show a wide range at 1.25 to 2.25 a barrel and 50 to 1.25 a mand than sweets, and the market holds steady at 1.75 to 2.50 a barrel. Garden Truck. Native and nearby garden truck in| ample supply for the demand, which is | limited and centered on first quality stock at the following quotations: Beets, 4.0025.00 100; brocoli, 60 to 75 bushel: carrots, 4.00 to 6.00 100; kale, 50 to 65 bushel; lettuce, 75 to 1.50 bushel: onions, 1.25 to 4.00 per 100 pounds; oyster plants, 5.00 to 8.00 100; parsnips, 50 and 60 basket; pumpkins. 10.00 to 30.00; Savoy cabbage, 60 to 1.00 bushel: | spinach, 60 to 80, and turnips, 20 to 30 basket. The market for live cattle holds steady but quiet, which is usual follow- ing a holiday. Receipts generally light both on the wharves and at the stock | vards, but ample for the demand, which | is limited and centered on first quality stock, with all undergrades moving slow at inside prices. Quotations today at Light Street Wharf: Beef cattle, first quality, 12 to 1215; common tn medium, 8 to 11; bulls, as to quality, 7 to 9; cows, choice to fancy, | 5 to 7: oxen, as to quality, 6 to 8: calves, veal, choice, 1512; large, fat, 13 to 15; large, rough, 10 to 12; thin, 9 to 10; rough and com- mon, 7 to 8; sheep, choice, 5 to 6; old | bucks, 3 to 4; lambs, choice, 121; to 13: fair to good, 11 to 12; common, thin, s ‘ to 9. hogs, straight, 9; sows, 7 to 8; live pigs, 10 to 11; shoats 8 to 10. I WILL SELL 20 Units nn;ar:mu Mortgage & A Mortsage & ntrol @ 2ls. v !l«l 3 Cemant, O 2 0. tignal k @ 115 ptd. Bid. J5% oo Bla. ith 3 B 5 Virginia Investment 100. hington Base Ball @ 65, lnltnn 1! ater t'u. Cavitol Hotet” a% “pta. e Corporation of D. Units Roosevelt Hot 12 Our Home Life Tns. Bid. THOMAS L. HUME 1412 G St. Main 1346 | crease $2,596.628, with $10. in |, New York Stock and Bond Averages. SATURDAY, DECEMBER 1. STOCKS. Total stock sales, 2.652.300 shares. Twenty industrials averaged 255.23 nel qu- 3.10. 1928, i low, ds .nr-nd lu.zh net los High, 1925, 157.60; low, 138.36. BONDS. Tnm bond sales (par value), $4- 31.000. Ten secondary rails averaged 97.61; net gain. .08, | 'l‘m nuh“t utilitles averaged 93.46; | | 97.45; month net loss, ombined average. g0, vear age, 99.51. NORTH AMERICAN'S ASSETS. The North American Co. reports as- sets of approximately $850.000.000. Three years ago says the Wall Street | Journal, assets were $403.600,000 and seven years ago $155.700,000. This | gives one an idea of the great prog- | ress in power and light and electricity in general over the last quarter of a century. Incidentally, North American reports as of September 30 $85,000.000 cash and investments compared with $65.000,000 on the corresponding date of last year. I’ENNSYV HAS RECORD NET. All monthly records for net rail-| way_operating income were broken by | the Pennsylvania Railroad in its returns | for October, showing net of $14,732.629. | This is not only the largest net oper- ating income reported for any October, but it is the largest net operating in- come reported in any one month in the history of the company. It compares | with 812,136,001 in September, 1928. in- 0.033 in 96, and | T, 1926, | October, 1927, increase $3.882, with net of $13,763,169 in Octol increase $969,460. o Droucrase cRarced. Si-neur ssrvice, (For loans in Virginia. apply at 102 South St. Asaph St.. andria.) American Small Loan Co. 3306 Rhode Island Ave. Mt. Rainier, Md. ANTRNNLEREERRRRRRRRNRNNN | 4y \\“‘\\\\;\2\\\\3\\\ Centented Tenants -—are an asset to the owner of an apartm Our ex- perience in property man- agement keeps things run- ning smoothly—to the con- tentment of tenants and the satisfaction of the owner. B. F. SAUL CO. Main 2100 925 15th St. e ROAD EARNS $6.74 PER SHARE The statement of the Atlantic Coast Line Railroad Oo. for six months ended June 30, 1028, shows net income of $5.565.815 after taxes and charges. equivalent after allowing for dividend requirements on 5% preferred stock to $6.74 a share on 823,427 shares of com- mon stock. FIFTH DISTRICT BORROWINGS Member bank borrowing in the form of rediscounts at Richmond rose to $41,823,000 from $38,819,000 in & week but the total was still well below the peak of the year. Currency circul tion moved up sharply, as it usuali does at this season, and the reserve ratio was lowered to 56.76 per cent, or approximately 1 per cent. Money to Loan Secured by first deed of trust on real estate Prevailing interest and e Joseph 1. Weller 473 ¥, In Nearby Virginia 51/2% lnl::rlg:::‘.(l:o. Commonwealth lnvnn:enl Co. 917 15th St. Phone Main 2623 WE FINANCE —all classes of income-producing property Large Loans a Specialty Current {nterest rate and commission. Higbie & Richardson, Inc. 816 15th St. N Loans to Salaried People “Character Plus Earning Ability Our Basis of Credit” REASONABLE RATES EASY PAYMENTS WASHINGTON WIMSETT COMPANY 903 N. Y. Ave., 2nd Floor. TIRE SHIOF Maln 18 First Mortgage .nd Construction Loan | Applications Invited at 52% Glover & Flather 1508 H St. N.W, Main 1753 CLARK,CHILDS & COMPANY 120 Broadway New York, N. Y. WASHINGTON OFFICE 1508 H STREET NORTHWEST MEMBERS NEW YORK STOCK EXCHANGE NEW RK COTTON EXCHANGE NEW YORK COFFEE EXCHANGE NEW YORK CURB MARKET NEW YORK PRODUCE EXCHANGE BOSTON STOCK EXCHANGE CHICAGO BOARD OF TRADE CHICAGO STOCK EXCHANGE 5020 _Telephone Metropolitan 595, Of course Stea rms-Kn*ght is favored by the successful man JAMES SLOAN, Jr., Man 'KNIGHT fenest transportati... of toda., STERRET[ & FLEMING, ln(‘. Home of Gold Seal Used Cars Champlain St. at Kalorama Rd. Columbia 5050. Display Rooms 1711 141h St, NW