Evening Star Newspaper, December 4, 1928, Page 13

FAVORITES ON CURB DISPLAY STRENGTH Canadian Mgrconi Special- ists Able to Control Issue at Market Opening. BY WILLIAM F. HEFFERNAN. @pecial Dispatch to The Star. NEW YORK, December 4—The curb market today assumed a more nommal course, with price changes narrowly confined. Operations for the rise maintained the upper hand, but there was no disposition to bid prices up ex- travagantly. Specialists in Canadian Marconi ap- peared to have the market for the issue well in hand, and it was possible to open the stock not long after the be- ginning of business. The first sale in- volved a block of 12,900 shares at 83, a fractional decline from the closing price yesterday, but the stock quickly made up mere than the early loss. In the meantime Marconi Wireless Tele- graph was taken at improved prices, while Marconi International merely held firm around the 21 level. Little or no difficulty was experienced by the ticker in keeping pace with oper- ations on the floor, and from the outset it was evident that total volume for the day would fall below that of recent standards. In the ofl group Standard of Ohlo continued a favorite, although it broke 4 points at the outset when profit- taking sales made themselves felt. Electric Power & Light option war- rants moved upward into new high ground in sympathy with strength in the stock on the big board. Other utilities were for the most part higher, with Electric Bond & Shaéeligcurmes up almost 4 points aroun . p’rhere was little or no feature to the trading in mining stocks. Newmont Mining went sympathetically higher with the copper shares on the Stock Exchange, but lsubgs‘eg:emly lost a good part of the early Specialties which continued in de- mand at new highs included Bohn Al up almost 3 points; Fed- eral Screw, up 4 points at 61, and R‘;‘g Associates among the pris issues, up 10 points at 485, high- COTTON PRICES FIRM IN EARLY DEALINGS Market Opens Steady and Un- changed to Advance of 5 Points. By the Associated Press. NEW YORK, December 4—The cot- ton market opened steady at unchanged prices to an advance of 5 points, with the active months selling about 6 to 9 points net higher during the first few minutes on trade buying, covering and some local buying encouraged by rela- tively ste: Liverpool cables. The bulge met further realizing or liquida- tion, however, while there was some Southern selling and offerings increased slightly on rumors of larger private crop By the end of the first half hour the market had eased off to 20.11 for January, and 20.10 for May, or back to about yesterday's closing quotations. Private cables said there had been hedging and local liquidation in Liverpool, but that the offerings had been absorbed by covering and London buying. Manchester reported fair cloth sales to the home trade and continent, but sald that yarns were purchased sparingly. WHEAT VALUES SAG IN EARLY TRADING. Favorable Weather Reports Cause Drop in Prices at Chicago Market. By the Assoclated Press. CHICAGO, December 4.—Influenced by reports that harvest is extending under favorable conditions both in Ar- gentina and Australia, wheat values here underwent an early setback today. Liverpool advised that Argentina is of- fering wheat freely to Europe at lower prices. Opening JaaVs off to Yga%s up, Chicago wheat later suffered declines all around. Corn was also easier, starting at 35 lower to 13 advance and then showing a general sag. Oats were firm. Provisions had a downward slant. Selling pressure from the Northwest added today to the bearish effect of news indicating that Argentine wheat is competing sharply with North Ameri- can wheat seeking a transatlantic out- let. There were also indications that export demand today for wheat from Canada and United States continued siack, although assertions were made that a fair amount of business with Europe is being worked under cover all the time. Meanwhile, word of improved weather for the Argentine harvest was an_outstanding feature. Corn tended downward in price much of the time today, as a result of less unfavorable weather than expected, as snowfalls were light. Besides, foreigners were reported offering to sell corn back which had been purchased for January shipment. On the other hand, some suthorities said fresh export buying had been done late yesterday on a profitable basis. CHICAGO LIVE STOCK MARKET CHICAGO, December 4 (#) (United States Department of Agriculture).— Hogs—Receipts, 60,000 head; market mostly 25 lower than Monday's average; weighty averages, 180 pounds up, 8.60a8.75; top, 8.80, paid for 200- 280 pounds butchers; medium to choice, 250-300 pounds, 8.50a8.80; 200- 250 pounds, 8.5028.80; 160-200 pound: 8.25a8.75; 130-160 pounds, 7.60a8.6: pigs, medium . 7.0028.25. . Cattle—Receipts, 12,000 head; calves, 3,000 head; largely a steady trade, but comparatively little done on stee lower grades get most of the action: finished kinds scarce; some held up to 17.50; early top, 16.00; she stock steady to strong. Slaughter classes, steers, good and choice, 1,300-1,500 pounds, 13.50a17.25; 1,100-1,300 pounds, 13.25a17.25; 950- 1.100 pounds, 13.00a17.25; common and medium, 850 pounds up, 9.00a13.25.| Fed yearlings, good and choice, 750-950 | pounds, 13.00a16.50. Heifers, good and | Sal choice, 850 pounds down, 12.00a15.00; | common and medium, 8.00a12.00. Cows, | good and choice, a11.00; common 6.5028.35; low cutter and 5.2526.50. Bulls, good and (beef), 9.50a11.50; cutter to medium, 7.2529.50. Vealers (milk fed), good and choice, 13.00a16.00; medium, 11.50a13.00; cull and common, 7.50a 11.50. Stocker and feeder stee: and choice (all weights), 11.2 common and medium, 9.00a11 Sheep—Receipts, 13.000 head; early trade steady to strong: bulk, desirable fat ewes, 14.00a14 ome held higher; sheep, strong to cents, higher; top ewes, 7.25; feeding lambs, strong; best, early, 13.65; lambs, good and choice, 92 pounds down, 13.50a14.40; medium, 12.00a13.50; cull and common, 8.50a 12.00; ewes, medium to choice, 150 pounds down, 5.00a7.25; cull and com- mon, 2.0005.50; feeder lambs, good and choice, 12.75a13.85. - FINANCIA THE EVENING STAR, WASHINGTON. NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office Following s a list of stocks and bonds traded in on the New York Curb Market today: Sales in hundreds. 36 Acoustic Prod c P 4Amer S & G p pid §Amer States Sec A 76 Butler Bros 315 Can Marcont ! 2800 Prairle P L . | 3 Carnation Milk C § Fed Matals Sett. Scre 43 Fox Theaters A. 14 Freshman Chas. Gears & Forgings B. 34 Gen Pub Ser. 8!; Gen Pub 8 pi 16 Gold Seal Elec. 2 Gotham_ Knitba 17% 2 Gramophone Co Ltd. 64% 3 Grigsby Grunow n.. 135 3 Hall Printing 37 2 Happin C St 2 Hart Parr. 5 Hazeltine Corp. 51 11 Hirem Walk G & W. e 50 lsg” xg;t,i 31% 1 1 1 Nat Theater Sup 2 Nat Trade Journai Oscar 2 Niles Bem 4 North Eastern 0 Nor 13 Benn 6 Phill [l 2% 25 i 3 186 1653 166 1183 118% 118% 1% 11 4 Ross T 4 Safe-T-Stat . 2% Safeway Stores roc Thomps Prod ‘A 11 Timken Det Axlg dd Ship. dy A. 2 800 Prairie P 34005 O Ind . 4003 O 5508 O Oh %00 Vacum O1l Sales 7 Abitibt P & P 13 Abrah & Stra 5Ala Pow dlas 3Ala Pow 55 7Allled Park 85 L ni A Ser B 1Git Gas’ 51 8 Cit Serv Pow 5! 97 nves B & Sha 5s A.0 110 1 nvest Corp Am 6s A. 102 endall 515 . 90% high Pow ne Long Tsl Lt 6s anitoba Pow d 65 or 14 Roch Cent San Anton Pow 5 4. 80 ow 65 AL 89° s B sgzi 58ou Cal Ed 55’51 78ou Cal Ed 55 52 s o5 B.... 893, 10 White Sew Mach 65.. 100% 1Wisc Cent 55 96%4 Salesin FOREIGN BONDS. 5 Cauca_Valley _Ts. 96%a 8 Cent Bk Ger Sta 65 B 86 1Com & Pr Bank 5125, 87% io5.... 9914 Mo Bogota T Bk 7s..0 92 2 Mor Bk Chile 65 3i.. 97 893’: ‘Warsaw T 86 xd—Ex-dividend, wi—When issued. Special Dispatch to The Star. BALTIMORE, Md., December 4.— Potatoes—White, 100 pounds, 80al.10; sweet potatoes, barrel, 1.25a2.25; bushel, 5021.25; yams, barrel, 1.75a2.50; beans, bushel, 3.00a4.50; beets, 100, 4.00a5.00; broccoll, bushel, 60a75; brussels sprouts, quart, 1215a20; cabbage, ton, 40.00a 45.00; carrots, 100, 4.00a6.00; celery, crate, 1.5023.00; cauliflower, crate, 1.75a 3.00; kale, bushel, 50a65; lettuce, bushel, 75a1.50; onions, 100 pounds, 1.25a4.50; oyster plants, 100, 5.00a7.00; parsnips, basket, 50a60; peppers, crate, 4.00a8.00; umpkins, 100, 8.00a25.00; spinach, ushel, 60a1.00; tomatoes, crate, 3.00a 5.00; turnips, basket, 20a35; Savoy cab- bage, bushel, 60a1.00; apples, bushel, 75a2.00; cranberries, box, 3.00a4.00; ars, bushel, 1.00a3.25; grapefruit, box, .0023.75; oranges, box, 2.25a4.25; Keifer pears, basket, 25250. Hay and Grain Prices. ‘Wheat—No. 2 red Winter, garlicky, spot, 1.33%; December delivery, 1.337. Corn—No. 2 export, December deliv- ery, 95%; No. 2 yellow, 1.02a1.03; cob corn, 4.60a4.75 barrel. Oats—No. 2 white, domestic, spot, 13t 1307 225 223 | 55a57%; No. 3 white, domestic, spot, A 6 5515256, Rye—Nearby, 1.1021.20. Hay—Receipfs, 12 tons. While hay 13, 3, |18 arriving here in limifed_ quantities 2% 2% 38" 38 5 m%:/’: 108% s 3013 30% 57 U 8 Freight ) 20 Universal Aviatfon... 19 Walgreen 18 Warner Bros 4 Wilder Food Prod.. 8 White 8 M deb rts 2 Winter B J. 50 Wire Wheel 13 Zenith Radio Salesin MINING STOCKS. hundreds 4 Chief Cons Min.. 3Com Tun & Drai 9 Cons Cop Mines. .62 14% | 10 Cortez Silver. . . E5a SAR R e o Cop 5 Roan_Antelope 'Cop. . 10San Toy . ... 0 2 2u525. 285 E e R0 2, o o B8 R 5 Ezt Min 4 Yuk Alas T'ts cf 2 Yukon Gold ... INDEPENDENT OIL STOCK. n_Oilfds ) [T P 156 Venezuelan Pet Sales STANDARD OIL ISSUES AND FOR- iu units” MER SUBSIDIARIES--STOCKS. 3 | nearby, 200 Chesbr'gh Mfg Chicago Presbyterians plan four Win- fer banquets, 2300 Cont Ofl ... 00 Humble O & 5065 Inter_Pet Ltd 300 Nat Transit 1100 Ohlo O . only, it is more than ample for the de- mand, which is being supplied mostly by truck from nearby points, few car- loads 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, 11.00a12.00 per ton; No. 1 oat, 12.00a13.00 per ton. Dairy Market. Poultry, alive—Young turkeys, pound, 38a40; old, 35a36; crooked breasts, 25a 30; Spring chickens, 20a30; Leghorns, 20a26; old hens, 22a28; Leghorns, 20: 22; small and poor, 18a20; old roosters, 17a18; ducks, 22a25; small and poor, 18a20; geese, 20a25; ginea fowls, each, 40a85; pigeons, pair, 30. Dressed poultry—Turkeys, cholce to fancy, pound, 40a42; fair to good, 38; old ‘toms, 35a36; poor and crooked breasts, 25a30; chickens, young, 28a30; old and mixed, 25a28; old roosters, 18a 20; ducks, 25a28; geese, 22a26. Eggs—Receipts, 709 cases; native and selected whites, free cases, dozen, 52; firsts, 45; current receipts, 45. Butter—Good and fancy creamery, pound, 48a53; prints, 53a55; blocks, 51a 53; ladles, 37a38; store packed, 34a35; process butter, 43a44, NEW YORK PRODUCE MARKET NEW YORK, December 4 (Special). —Upstate New York celery in the rough sold at 2.00a3.00 per 25 crate for fair to good and 75a1.50 on poor to ordinary. California celery in large crates brought from 550a6.50 and some really fine stock reached 7.25. Various green varieties of string beans in 28-quart hampers brought 1.50a4.50 and wax, 2.50a6.00. Lima beans from Cuba sold at 3.00a6.00 a bushel hamper. New York white Danish type cabbage was 45.00 per ton. Washington Spitz- enberg apples in boxes jobbed out at 1.55a3.25; Delicious ranged from 1.60a 340; Rome Beauties, 1.70a2.40: Mon- tana Mclntoshes sold at 1.35a3.60 per box. California iceberg lettuce sold at 2.00a5.00 per crate. Florida and Big Boston brought 2.00a3.50 per hamper. Fair quality medium sized yellow onions were at 3.65 per 110-pound sack. The ‘flguexc stock from Colorado reached SRR e ‘The government of India recently awarded the Kaisar-i-Hand medal to two Presbyterian missionaries, BRITISH BUSINESS American Interests Do Not Fear Financial Effects if King Dies. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, December 4—What is British business going to do if King George dies? “Carry on!” This was the answer cabled to this country today by leaders of the busi- ness, financial, industrial and commer- clal life of the British Empire. As a result the far-sighted producers and ex- porters of the United States are giving thanks for the stability of the House of Wingsor, of the business structure builded by England and for the esteem and affection in which the royal family are held. Britain Pays Debts. For the British Empire is America’s best foreign customer, not only because of the volume of trade and of the tles of mutual advantage, but because Britain always pays. Her credit and that of her colonies are good. There is no reason even in the pres- ent situation, when King George is bat- tling for life, for a disruption of busi- ness, but there are few countries which could face the probability of losing their titular head and avold such a period. It has been customary to say that the King of England is a figurehead with little real power. This is a decided mistake, as those who have come into tify. He is the tie which binds the units of the empire, with their varied and often contradictory interests, into a homogeneous whole. King George, like King Edward VII, has always had the ability to a peculiar degree of holding the esteem and real affection of all his subjects, from Cape- town to the Arctic circle. He has been a wise counscllor in commerce and trade and has fostered the business of his realm in & way which indicate a real business abiltty. This has been further shown in the increase in his private fortune, all based on British trade, which has miade him a rich man outside his position, and despite the tremendous calls his throne has made on his income. Faith in Prince. American businesses insure men like King George for millions of dollars in favor of their corporations, to check any development such as might reason- ably be expected to follow his death. He has not neceded that insurance in hehalf of British trade, for his son and successor is fully able to take his place. English businessmen say Edward ‘Windsor, Prince of Wales, heir apparent to the throne, is the best businessman in England. He also has the family trait of winning the love of his sub- jects, of holding them together in peace as well as in war. There has been much talk of the possibility that he | might abdicate his rights to the throne in favor of his less popular brother, the Duke of York. British business does not credit these rumors for a moment. A message to the writer today from a London financier declared in effect that the Prince respected his job whether he liked it or not and that he could be counted on to do his utmost for the trade of the empire and for the prosperity of its citizens with the same ardor that he begged for a chance to lead English troops over the top during the war. The bearing of the situatifon on American trade can be better estimated when it is realized that England, Canada, and Australia are the best foreign markets for American automo- biles, agricultural implements, grain, cotton, copper, certain packing house products, fruits, canned goods and a score of other raw and manufactured commodities. The textile mills of cer- tain parts of the United States com- plain about the competition of the Eng- lish cotton mills, but if these mills did not run much of the American cotton crop could not be sold. On the empire, America depends for rubber, tin and a certain amount of wool. England has hundreds of mililons of dollars invested in American securities. America has at least $500,000,000 in. vested in Canada and is rapidly ad- venturing its dollars in other British colonies. PO TORE R - Y Acquires Textile Mill. THOMASTON, Ga., December 4 (#). —The B. F. Goodrich Rubber Co. has acquired one of the 32,000 spindle mills of the Hightower interests here and will operate it after January 1, next, ‘W. H. Hightower, president, announced. He made this statement in confirm- ing a report from Akron, Ohio, that the Goodrich Co. had exercised its option on the “Martha” mill. Mr. Hightower explained that when the mill was erected some years ago the Goodrich Co. took an option on it. At the time the entire output of the mill was consumed by the Goodrich Co. The president of the Hightower in- terests said he understood the capacity of the mill would be trebled, which will give it about 100,000 spindles. It will turn out Goodrich fabric exclu- sively. The Hightower Co. owns four other mills which manufagture sheetings and tire fabric. These will continue to be operated by the company and will not be affected by the purchase of the “Martha” mill, Mr. Hightower said. SINCLAIR FIRM EXPANDS. NEW YORK, December 4. (#).—Sin- | clair Consolidated Oil Corporation of New York, in a contract closed today with Venezuelan Petroleum Co., will gain control of the latter concern in re- turn for merging South American hold- ings of two companies under Venezuelan | Petroleum Co. Sinclair holdings in Co- | lombia and Panama will be included in the merger. Stockholders of Venezuelan Petroleum have been called to a special meeting to approve the contract and to authorize increasing capital stock to $10,000,000 from $5,000,000. The capitalization will then consist of 2,000,000, shares of $5 par value, all outstanding. Under the merger plan the majority of the capital stock will be issued to Sinclair. Mason Day, vice president of the Sin- clair Exploration Co., a subsidiary of Sinciair Consolidated, and George W. Loft, president of Loft, Inc., New York candy store chain, were elected directors of Venezuelan Petroleum on October 1. GRAIN STORES INCREASE. BALTIMORE, December 4 (Special). {—Grain now in storage in Baltimore totals 8,136,115 bushels, according to G. | H. Pouder, director of the’ Export and Import Bureau. This, Mr. Pouder said, was the largest quantity in local elevators at one time in several years. A large additional corn movement from the West is in progress, Mr. Pouder said, and this will begin to arrive with- in 10 days. In the meantime Canadian | grain keeps pouring into the elevators, which are now approximately two- | thirds full, their combined capacity | being 12,550,000 bushels. | " Most of the wheat coming here, Mr. Pouder said, is from Canada via_ the e ports of Buffalo, Fairport and Erie. SHIP CLEARIIEGS GAAIN, BALTIMORE, December 4 (Special). —The Maritime Exchange reports 254 vessels arrived in port during Novem- |ber, an increase of 12 over October. ‘Ten nationalities were represented. Of arrivals 182 were under American reg- istry, one less than for the previous month, For the 11 months of 1928 there were 2,700 arrivals, an increase of 80 over the samic period in 1927, DECLARED SOUND contact with British commerce can tes- | NEW YORK, December 4.—There| can be no doubt that the pace set by stock prices in recent weeks cannot continue indefinitely. Simple mathe- matical calculations will show that if the present rate of increase is projected into the future far enough the result is ridiculous. During the rise which has been in progress since mid-July the market has experienced no normal corrective re- action, although during September the technical position was somewhat im- proved by a sidewise movement of stock prices. This often serves the same purpose as a reaction. The Technical Position. After the correction had been ac- complished prices were again rushed forward and about two weeks ago again | began to move along a horizontal path. The question now arises whether the market will find sufficient correction in another horizontal movement or whether it needs a substantial reaction to correct its technical position, which has undoubtedly become seriously im- paired in the present rise. 5 People whose first experience in the market has been since last July have never had the experience of carrying their holdings through a sharp re- | action such as must be expected sooner or later, whether it comes in a few days, weeks or months. While fundamental conditlons are so sound that a real bear market is unlikely to develop, conserva- tive advisers are recommending that margin dealings be cut to a minimum that one may be prepared for a re- action in case it comes. Stocks Make Littie Progress. ‘The week before last the market had made little progress and last Monday 190 prices slid off rapidly, continuing to decline until Wednesday afternoon, the day before Thanksgiving, when Radio and other speculative leaders were rushed upward. On Friday after the holiday prices again eased off, but ran up sharply the last hour, only to lose that ground again on Saturday. Thus prices finally ended the week somewhat below the close a week previous. It had been expected that the holiday and month end requirements for money would lead to increased call money rates, and on Monday of last week, after having remained at 615 per cent or be- low since November 12, call money rose to 7% per cent. On Tuesday it went to 9 per cent, eased off slightly and on Friday closed at 10 per cent, the highest rate reached for two months. Brokers' loans for the week increased $132,768,- 000 to $5,289,000,000, the total increase for November being $382,136,000. Many believe that this rapid increase now means an unsafe condition in the mar- ket itself and is apt to attract attention from Congress during the short session which is coming up. Group Movements. ‘The railroad stocks gained most im- pressively last week, accompanied by continued good car loading reports. Un- doubtedly many have wanted tb buy stocks, but consider the pace of the in- dustrials too fast, and have turned to the rails. It seems as though the same psychology leads investors into the utili- ties, which also advanced sharply dur- ing the week. As a group the coppers did not advance as sharply as during the previous week, although a few issues continued the advance. Except for Hupp and Packard, the motors made lit- CLEVELAND PHILADELPHIA BALTIMORE DETROIT CINCINNATI tle progress. Al through the list there were stocks *which advanced sharply, but these movements were counterbal- anced by stocks which declined just as sharply, and the net result of trading was that the market made no progress under a record volume of trading. On the curb market the public utili- ties were featured along with a number of specialties, and the volume of trading was greatest on record. As a rule, how- ever, curb prices made little progress. On_the local stock exchanges the gen- eral trend of prices was upward, al- though none of the rises were sufficlent to cause any great amount of comment. | (Copyright, 1028.) $10,000,000 COMPANY ! T0 SELL TELEVISION By the Associated Press. NEW YORK, December 4 —Formation of a $10,000,000 corporation to manu- facture and sell home movie television sets was announced today. The company, to be known as the Jenkins Television Corporation, will have as officers James W. Garside, pres- ident of De Forest Radio Corporation, as president, and A. J. Drexel Biddle, jr.,, chairman of De Forest board of di- rectors and trustee of the Duke En- dowment, as chairman of the board. C. Francis Jenkins, known as the fa- ther of the motion picture industry and inventor of a motion picture tele- vision device, will be vice president in charge of research and a director. Mr. Jenkins’ device is a transmitter which works from an especially made film permitting reception of television signals from any broadcasting or short- wave transmitter. This device is cou- pled with a receiver, which, it is claim- ed, will project animated pictures into the home. The corporation will acquire the cap- ital stock of Jenkins Laboratories, Inc., which for seven years has been develop- ing radio and wire equipment with oth- er apparatus for the transmission of motion pictures and photographs, For seven months Mr. Jenkins has been broadeasting television programs from his station W3KX in Washington on a short-wave channel. Capitalization of the new company will consist of 1,000,000 shares of no- par-value common stock. . Highland Presbyterian Church, old- est Kansas Protestant church in con- tinuous service, is 85 years old, BANK PLANS PUSHED. BALTIMORE, December 4 (Special). —Plans for the organization of the United States Trust Co. of Maryland are reported to be progressing satisfac- torily by Robert S. Mooney, who will be president of the new bank. Several additional directors have been selected, Mr. Mooney stated. Among these are John Stuart Hunt, attorney, and Maj. Gen. George Barnett, former~ ly commandant of the United States Marine Corps, both of Washington: FINANCIAL. John Warner, Judge Edward A. Staylor, William Edgar Byrd, Howard M. Taylor, D. S. Neill, C. Braddock Jones and Wil- liam A. Riordan, all of Baltimore; John W. Masury, president of John W. Masury & Sons, paint_manufacturers, Brooklyn, N. Y., and F. H. Hoffman, capitalist, New York City. Capital of the trust company will be $1,000,000, consisting of 10,000 shares of $100 par value and $500,000 paid-in surplus. The bank will be located in the Court Square Building, opposite the new $2,000,000 branch of the Federal Reserve Bank. . POTATO MARKET DULL. ' CHICAGO, December 4 () (U. S. Department of Agriculture) —Potatoes —Recelpts, 83 cars; on track, 353 cars; total U. S. shipments, 419 cars; trading very slow, market dull; Wisconsin sacked round whites, 85a1.05; Minne- sota sacked round whites, 80a95; sacked Red River Ohio’s, 95a1.05; Idaho sacked russets, 1.40a1.65; fancy shade higher. e Y. M. O. A. has branches in 32 coun- tries. 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Accept the precedent set by experienced and successful investors—purchase these notes know= ing that their safety is absolutely assured. FIRST MORTGAGE NOTES Secured by Improved Real Estate in the Nation's Capital—bearing interest at the rate of 6%. Issued in denominations of $100, $250, $500 and $1,000, SHANNON - & LUCHN First Mortgage Investments. Telephone Maih 2345. 1435 K Street Northwest Dividends paid on Cities Service Common stock pass $#100,000,000 mark On November 1, more than 90,000 inves- tors located in every state of the union and in foreign countries received checks repre- senting the 193rd dividend paid by Cities Service Company on its Common stock. Total dividends paid in cash and securities on Cities Service Common stock have now passed the $100,- 000,000 mark. This unusual record is made possible by the stead- ily increasing earnings of Cities Service Company. In the twelve months ended September 30, 1928, net earnings were $32,529,000, the largest for any year in the history of the company. Net to Common stock and reserves for the same period were equal to 24.61% on the average amount of Common stock outstanding. about 7% %. HENRY L. DOHERTY & CO. Branches in Principal Cities Name Southern Bldg., Washington, D. Please send me, without obli full information about Cities Service § Common stock. By investing now in this 18-year-old, seasoned se- curity, you can still get a net yield on your money of HENRY L. DOHERTY & COMPANY Southern Building @ Washington, D. C.