Evening Star Newspaper, December 6, 1928, Page 15

R 8 % THE EVENIN STAR. WASHINGTON. ——— D. C., THURSDAY. DECEMBER 6, 1978° BOND TRADING DULL Higher Money Causes Drop in Activity—Many Is- sues Neglected. BY CHARLES F. SPEARE. pecial Dispatch to The Star. NEW YORK. December 6.—It was difficult to establish a definite trend i oda’s bond rirkr! because of Ing and the numerous fissnes, ordinarily active, that were quite eglected in the day’s business. Owing to the extremely high call and ime money rates. the market has ag:in thin,” blocks of five and ten bonds establishing the basis of trading. here is at the moment more activity n the offering than on the bid side he institutional buvers have withdrawn Jan 1 will probably be out of the market 1 there is a decided improvement in oney conditions. A factor that restricted operations oday the expectation of the Trea: * announcement before the opening av giving the terms which the' Government, will offer on the new notes to be dated December 15. If these are | to be in line with the money market and if the Treasury is to protect itself fully against an undersubscription, it may be necessary to make the rate 4!, per cent instead of 4',. as had been | nned up to the early part of this we It will be remembered that the Oc- tobor certificates were offered about 4 per cent above the market. This led 10 their being covered about three times. onth 4!, per cent note would acceptable to the banks and | 10 corporations. although today’s rate for call money was twice as | as that figure. | The new financing today amounted to about $64,000.000. In it were two is- | sues with & 4'. per cent coupon, but | th legal for savings banks in various States: also an issue of 5 per cent pub- | ic utility bonds on a 5.18 basis. From | this it might be gathered that corpora- | tion borrowers have not readjusted their ideas of price to the change in | ‘money rates that has taken place since | the middle of November, when call money was abundant at 6 per cent, compared with the present scarcity at 9 per cent Widespread interest has been shown | in the $100.000.000 Goldman-Sachs | Trading Co’poration stock to be offered tomorrow st 104. Washington Stock E;change SALES. Capital Traction 55—$1,000 at 103. Potomac Electric fs 1953—85.000 at 108. | ‘Washington Gas 6s “A"—$300 at 103. | ‘Washington Rwy. & Elec. 45—$1,000 at apital Traction Co—-10 at 10715, ‘hestnut Farms Dairy pfd.—20 at 107, | 10 at 10675, 10 at 1067%. Potomac Electric 67 pfd—5 at 112. Potomac Electric 5!2% pfd.—5 at 10813, | 5 at 108': Washington Gas Light—10 at 101%, 20 at 102, 40 at 102. V\'aflmnglon Rwy. & Elec. pfd.—20 at 9%s. District National Bank—5 at 240. ‘Riges National Bank warrants—45-265 at 305, 2 at 305, 175-265 at 300. Firemen's Insurance Co.—25 at 38. Columbia Sand & Gravel pfd. 921, Lanston Monotype—1 at 118. Mergenthaler Linotype—10 at 10514, 10 | at 10535, 20 at 10535, 10 at 1053,. Peoples Drug Stores pfd.—25 at 129. AFTER CALL. Washington Gas Light—7 at 101%. IMergenthaler Linotype—10 at 105 at 1051, 7 at 10515, shington Gas 55—$1,000 at 10315, apital Traction Co.—3 at 107%5. Bid and Asked Prices. BONDS. PUBLIC UTILITY. mer. Tel. & Telga. 47 mer. Tel. & Teli 3 m. Tel & Tel. cti. nacostia & Pot. R na & R. 5 corgetown Gas 1st 55 otomac Elec. eries B vash. Rwy & Elec. 4% vash. Rwy. & Elec. gen. 65 MISCELLANEOUS. arber & Ross, Inc., am-Vagblt. ‘Hotel 6 hestnut ‘Rarms Dairy 6} ‘hevy Chase Ciub 51us.. C- Paper Mz 6s oin . Title Co. Park Hotel STOCKS. PUBLIC UTILITY. vardma [ NATIONAL ationk{'.Capital olum s ommerolal’ . rick e mergq\nmnn ierts g 5 incoin ationp 1 Metropolitan iegs iges warrants : econd . % 260 National” Bank of ‘Washington. 305 TRUST COMPANY. mer. ‘Security & Trust Co Continental Trust..... ferchants Bank Rationn! Savin: inion & Truse. ] remen ational Union TITLE INSURANCE. Jritie & 1n of Md. com vash Cons. Title pfd MISCELLANEOUS. hestni 80 ° 1 A #1067, 10714 93 hest ms nd & Gra reial Natl torage pfd merican Co al-American pfd anston _Monotvpe Berch. Trans. & Storage erch. Trans torage ergenthaler 1 Mige. & I deral S pederal com 2 Mech Mise. ¢ Jvash Medieal Bloe e voodward & Lothrop ptd..... “Ex dividend 1 50 cents extra. EW YORK BANK CLEARINGS. NEW YORK, December 6 (Spe ew York bank clearings, $16 boo: New York bank balances §00,000; New York Federal balances, $137,000,000. HESTER IS RE-ELECTED. NEW ORLEANS, December 6 (#).— 0l. Hentv G. Hester yesterday was re- lected secretary of the New Orleans otton Exchange at the annual meet- g of the board of directors. Col. ester 1s now rounding out his fift jchth consecn'ite year ag secretary of exchange. Reserve | | 13 Acgentine 63 Oct Argentine 513 '62. Argentine s A Argentine 6s B lAu Au | Bank of C| Belzium 6s. . Belgium 6% 8 Belgium 7s 19 Belgium 7s | | Botiv | Bord | Brazil 6128 1 Brazil 61281 | Brazil 85 Bremen § Canada bs 19 Canada 5s nada Chile 65 Chile 6561, Chile 7s 1943, “hinese Gov R; istiania 6. .. Colombia 65 Jan'61. Con Pow Japan Copenhagen 41 s 53 Copenhagen 5s ct Cuba D Dutch k 3 Dutch Kast ] 6% 62 131 Salvador 85 '48 Kinland Fintand 7 I'rench 7s French 7 German 7s. Ger Haiti 6 Holland-Amer 68, Hungary 7%s Irish Free State 5s. Ltaly 7a. Italian Pub S 7s. Tapanese 4. Japanese 613 Marseille 6s.... s Montevideo 7 etherlands 6s 54 etherlands 6s 72 New So Wales 57s ew So Wales 38s Peru 7y, Poland Poland Poland 8s. Prague 71;s. Queensland 7s Rhinelbe Un 7 RhineWst EP 6552 RhineWst EP 68’53 RhineWst EP 75'50 R10 de Janeiro 6155, Rio de Jan 8s 1946 Rio Gr Do Sul 8s Rome 61s. Sao Paulo 8 1936. . Saxon (PW) Ts. Seine 7s 4 Serbs Cr Slay Serbs Crot Slo 8s Swiss Confed & Tokio 5% s 1961 Utd Kingm 5%s 29, Uruguay 8s... Yokohama 6s w 1. Ajax Rubber 83 mAgriChem 7%s. An Smit & R 1st 53, Am Sugar Ref 63, Am T & Teltr4s.. AmT&Tecltrss.. AmT&Ts bs. Am Tel & Tel 5145, Am Water Wks 5s. Anaconda 1st 8s Anaconda ev db Andes Copper 7s Armour&Cod s Armour Del 5%s. Associated Oil 63 lantic Refin 5s. .. Barnsdall 63 1940, Bell Tel Pa bs B Bethlehm Stl pm 5s Beth Steel 5% 53 Bethlehem Steel Bklyn Kdison 58 Bklyn Union 5% Bush Term Bldg 5. Certain-Td3 Y% srets Chile Copper bs. . “olon Oil 6338, as& Il deb bs. Con Coal Md 15t Y 5% Consumers Pow 58. Detrolt Kdison 6 Dodge 6s Duguesne 4155 67. Fast Cuba Sug T%s Gien Asphait 65 36 Gen Mot Ac Cor 6s. Goodrich 6% ioodyenr 5s rets. | Hoe & Co 6135 | HumbL, 01 Humble O & R 51 Iilinois Bell 1st As Inland Stl 413578, Intl Cemen Intl Mate Int Mer Marine 6s Int Paper Inter Paper 63 Int Tel&Telex 4155, Kan City P & | Kan G & K 6s 52 ritlard (1’) 78 | Louisy G & & | ManatiSug st 7 Mid-Con | Midvale s N N Ny N N N IR or | Pacific Gas & El 5 1'acT & T 1st 58, .. BaL Phila Co | Philips Petio 5148, Pierce-Arrow 8s. | ar tzie An Postal Tel & | Pressd Steel Car *ubli Punta Ale: em Iem [ind 3%s war. Sinclan Ll 6s Low. 18 9 10 104 0 101 112 FOREIGN. Sales, High. Low. 100% 1001, 10015 1001 9% 961y 16 10015 100% .10 100% 1005, 16 8T K7 33 961 96 42 9% 96 8103 1027 14 98 ~ 15 100% 1005 9 106 105% 26 103 107% 14 106 106 9 115% 1154 3 110% 110 5 1051 105% 4 100% 100% 95% 9 2 108% 108% 10 1017 10135 4 10013 100% 34 104% 104 101 0% 98N 4 101 16 90% 1983y 32 888, 2 9 1097 1097 2 109% 1098 B 1100 110% 1 110% 110% 3 1088 1039, 5110 110 R0 BNk 2 1000 100 1073 1071 113% 1131 36 1068 1061, 8 98y 98 2103 102% 3100 100 1.101% 101% 11 101% 101% 16 97 132 98 97% 14 96% 96 7 9% 9w R 1015 101% 2 100 100 20 91 90% 102 100% 105 93% 931y 215 102ty 12 97% 97k 11 100% 100% 14 1025 102% 1103 103 14 97% 974 46 993 994, -4 1041 1037 22 91 90y 5 1025 102% 15 107% 107% 1 83!, 831 22 B88% 883 5 93% 98K 3 106 106% 8 105% 105% 1 110% 110% 4 103% 103 6 90 90 40 94 93% 2102 102 5 95% 95 10 106 105% 8 1084 10515 48 91 904 2 106 106 19 100 991 36 105% 1058, 12 83% 83 5 9T 9% 7 90% 90% 1 104% 104% 4 102% 102% 10 110% 110 5 88% BRY 5 118% 118% 4 1001 2 105 Utd Kingm 5%s5 37.246 104% 103% 5 1084 108 26 95% 95Y% MISCELLANEOUS. 103% 103% 1045 10415 101% 101 104% 104 99 991 104' 104 105% 105 107% 98% 105% 16514 11 38 8 32 100% 133 104 1005 102% 10415 10414 1081, 991y 102% 1074, 93 91 100 21014 104 9214 1031, 98 101% 1044 10515 110 104 10 30 37 4 10 3 10 10074 87% 1061, 107y 991, 107% 110 1005 1013, 1000 1050y 103 1028 105 105 1077 110% 101 102 10074 1051, 250 100 9% 100 941 100 93% 29%; \ N 2:58 [ BONDS o ] Received by Private Wire Direct to The Star Office UNITED STATES. (Saies are I $1.000.) Sales. High. Low. 2:55. 102 101% 102 103% 1037 bl 813 91% 1034 I Sinetair oi1 6%s. Sinclair O1l 7s. | 8inciair Crude 51, Sin Pipe Line 5. Skeliy 011 5% | Southwest Ball 5s. . N 5846, 9 18 014 021 Tenn Copper 63 °41. TennkivcPow 6547 Transcont! Oil 6155 ited Drug 58 53. . Rub Istrf 5s US Rub7i%s U S Steel s £ 5x. Utah Pow & Lt 58.. Vertientes Sug 7s.. Warner Sug 7x 39, . West Elec bs. Westn Union bs 51, Westn Union 6% Westinghouse bs Willys-Ov 615 33, “ | Wilson & Co st 6: 107 4 i 104 | Yngsin S&T 55 wi. 115 40 2:85, 19 100 1004 100% 100% 1003 RAILROAD. ® IR al 78 al BRIy 93 921 1001 9% 95 | 1088, | Atchison gen 4s. ... Atlantie C L 1st 4s, 101% | Atlantic CL 415 64 100 Atl & Dan st 4s 43, “{ AU & Dan 2d 45 45 1010 { 3 L0org | B & O Gold 45 935 | a1y | 1031 | 37 | 101 904 | 983 B&Orf imp 6s. B & O Tolego 45 Bang & Aroos 4s 51 Brooklyn Eiec 64s. 10 Brookivn Elev 6138 Bklyn Mannat 6s. Buft K & Pitt 4 1097 | Ca 1003, 110% 10y 1041, 103% 1031y | € 108% lm TR s o1 |Ches &« 100t 1 1 106 98, { oM 103 100 1011 101 | i Canad North 7s. Canad Pac deb 4s Can Pac 4135 46 Central of Ga fs 100t 91 &S1P4 15 8C89 Pret 41 sy ChiMiISP&Pacis7s L LU MNw 101% 100 {Chi Un Sta 4% s | Chi Union Sta 67;s. Chi & W Ind cn 48 |CCC&StL5aD. .. CCC & StLrf6sA, C&WI15%s62.,,, C&S1st4n29.,. Colo & Sou 4%s. Cuba R R | Cuba Nor 53, Del & Hud 7s 30 Den & Rio G en 4s Den&RioG 41;s 36. | D& Rio G imp 5s.. Erie 1st cons 4s. Erjecvt 58 67 w . Erie conv ext 7e Erie Genessee R 6 Fla East C 5s 74 Gr Trunk stdb 6 Grand Trunk is Gt Nor 4% 76 D. Grt Northn 434 s K. Great North bs. .. Great North 5% Great Nor gen 7s. Hav El Ry 58 5 | Hud & Man aj s Hud & Man ref 5 11l Cent ref 4s. 111 Cent 435 66. 111 Cent Chi 4% 111-C-C-StL&NO Int Rapid Tran 5s.. Int Rap Tr 5 stpd. Int Rapid Tran 6s Int Kap Trans 7s. 1004 10114 103 974 9914 5! 79 105% 110% 103 90 933 104% 102%, 110 8815 118% 103% 108 95Y% Int Ry C Int Ry C A 6%s re lowa Centrf 4s.... Kan City Ft 8 4s. Kansas City S 3s. Kansas City 8 5s. Kan City Term 4s Lake Shore 48 31. Lehigh Val cn 4 Long Is deb 55 34. Louis&Nash uni 4s. Louis & Nash 7s. Man Ry 1st 4590, Market St 78 40. Mil Kl Ry & L 58 M St P&SSM cn 4s. M StP&SSM cn 5s.. StP&SSM5s38gtd M StP & S8M 5;s. MK&T48B...... M K &Tadjbs.... MK &T prinss A, Mo Pacific gen 4s. ., Mo Vac bs F Mo Pacific 58 G 9 Mont Trm ref 5s 41. assau El 45 51 OTex& M5sA O Tex & M 5s B.. Y Cen gen 313s. ¥ Cent deb 4s. 1034 10414 1004 104 991 104'% 105% 107, 98% | 105% 1041 1007 Y Cent deb 65 YC & StL deb 48 YChi&StL 5%sA. YC&StL6sA.. Y N H & H 48 56. ¥ NH&H db 4557, NYNH&H4%s Y NH&H cv db 6s. ¥ NH&H clt 6s. Y RYS 63 65. Y State Ry 478 9 'StateRy 6% 62. 1023 N Y W& B 4%s 1074 | Norfolk & W en 45 93 | Nor Pac 35 2047 Northern Pacific 4s. 100 | Northern Pacr i 6 10115 | Ore Short L rfs 4s. Ore Short L, 5s gtd. Ore Wash 1st 4 103% | Penna R R 4% 863, | Pen 5 | Pennsyl 55 64.. | Pennsyl 6%s. .. Pennsyl gold 7 Peo & E 1t 45 40. 133% i pCC&StL5s A, 104% | pCC&SIL 53 B T5... 105% | portland EI P L 6s. 110 | Reading gen 4345 A 104% | Rio G West cl 48, 1085 101% 86y 107 1 113 1034 98 105 100 102 10015 87y StLIM&S 4529.. | % M&S R&EG 43 &S Fplis A S Fr4%s 8. SF 518D 1001, RA%, 9614 10 106Y | Un Dep bs 10414 | SaN A & Arn P 4s... 1147, | Seaboard AL 4s sta. ab A L ref 4s.. 94 eab A I con 8 1075 | S B All Fla 6s g 1105 | SB Al Fla 65 35 B.. 101 | Sou Pac 4s 29 10i% | Sou Pac clt 48 100% Sou Pacific ref 4s. 1031 | Sou Pac 4155 rets. . | Sou Ry gen 45 56 Lids.. Tex & Puc 55 B 19 100 |Third Aveadj 7914 | (Tnjon Pac 1st 48, 9% Union Pac 1st rf 4s. 94 | Union Pactfic 48 108% | (7nion Pac 41as 102 | virginia Ity 18t 5 Miylva Ry&Ps 9T | Whash 180 | wabash 1st 59 w L 101 100 102 B3 100 Wabash 5 West Ma s | 80, in fact, that the supply greatly ex- I 991 | | ers as well MARINE PRODUCTS PLENTFUL HER iSea Food Displays Large at| D. C. Market—Prices Are Lower. PFish of every description and from | practically every fishing point on the Atlantic Coasi are available today at | the wholesale fish market. The supply | is plentiful and the prices lower than at any time for the past several weeks. | Oysters are equally plentiful, so much ceeds the demand. Many boats are returning down the river with a part of their cargo of the bivalve. Oysters are = .ing at $1.75 for the standard quality and $2 for the select Of the various sea foods available, fillet of haddock, whole haddock, cod | and flounders are coming from Boston New York is furnishing mackerel and scallops: the Chesapeake Bay, trout, croakers, butter fish, rockfish, sea bass and flounders: she Carolinas, spotted | | trout, gray trout, king fish and croak- ers; Florida, shrimp, Spanish mackerel | and red snappers. There was little change noted today in_meats and produce. Butter—One-pound prints, tub, 52a53; store packed, 30a32. Eggs—Fresh selected, 47a48; henner: 53a55; current receipts, 45a46; storage, 33a35. Poultry, alive—Turkeys, 35a3: chickens, 28a30; Leghorns, 2! 26a27; roosters, 19a20; keats, voung, 60a80; old. 30. Dressed—Turkeys, 40a ; Spring chickens, 32a35: Leghorns, 28a30; fowl. 30a32; capons, large, 40a4: ! ; ducks, 30a32; keats, young, | | 53a54; | | 8: Spring fow 0. | | ""Ments, fresh killed—Beef, 18a25: | veal, 27; lamb, 20a25; fresh pork loins, 19s22; fresh hams, 21; fresh shouldes 19: smoked ham 27; smoked | shoulders, 2 lard, in tins. | 12';: in packages, 14a i ve stock—Calves lamb, 13. BY KENNETH S. VAN STRUM. NEW YORK, December 6.—Many people are greatly impressed when they read that a stock has risen 30 or 40 points. To them it is a spectacular rise. whether the stock went from 50 to 80 or frcm 400 to 430. The profit which a person can make out of stock, however, depends on the percentage of rise rather | than on the number of points of rise. | Brokers ask proportionately larger | margins against high-priced stocks than low-priced ones, so that with a given sum, traders can buy less of one stock | than another. As a result, margin trad- those owning stocks out- | right must estimate the importance of a mov2 by figuring the number of points | change in relation to price. } Stocks With Greatest Rises. | In order to get a list of stocks whose | rises have most affected the individual | fortunes of investors and traders since | the June low of this year, the price of | every listed stock on June 19 and' cn last Saturday was taken and the per- centage rise calculated. The results are very different from. thcse obtained by | | figuring on the basis of number of points | of rise only. | All of the stocks on the New York | Stock Exchange were taken and it was | found that Warner Brothers A had th} greatest rise. Mexican Seaboard was second and Montgomery Ward a close third. Each rose over 200 per cent in | value during the five months. i The results are best shown by the | following table, where the stocks which | rose over 50 per cent in value are ar- ranged in groups according to industries. Those with the greatest rise come first | in each group. Motors Chandler Cleve. Dodge. Chrysler. Graham Paige. Packard. Kelsey-Hayes W. Oils. HMIHYG;R;‘I" z«;rp- ard. Retail Trade. S B Montgom Ward. Superior Oil. Nat Bellas Hess. Sun Oil. First Nat Strs. i Sears Roebuck. Coppers. Inspiration. IA?"f,rv Goods. Calumet & Hecla. o F g Natl Tea. Nevade Cons. e Greene Can. Mining & Metals. Anaconds Inter Nick?l.&' - 5 Zinc L & 8. Cerro de Pasco. IQXI::X Enainel: Chile. Vulcan Detin. Kennecott. Amusements. Granby. Warner Bros A. Miami. Pathe. Keith Al-Orph. Steels. | Warren Foundry. Otis. Republic. Ludlum. Bethlehem, Vanadium, Airplane. Wright. Curtiss. Food Products. Purity Bakeries. Natl Dairy Prod. Am Linseed, Loose Wiles. | | Motor Accessories. | Stromberg. Com Credit. Fl Auto Li. Eaton Axle, Rails. Kan Cy South. Chic Gt West. Mo. Kan & Tex. Utilities. Am Foreign Pow. Gen Gas & Fl A. Miscellaneous. Radio. Goodyear. Victor Talk. Byers Co. Johns-Man. Cash_Thresh. Gold Dust. Nat Cash Reg. Pillsby Flour. As a group the coppers have had the | greatest rise, with 10 stocks increasing ‘more than 50 per cent in value since June. Retail trades are next with 7, and then with 6 each are the motor ac- | cessories, food produets and steels. After that there were 5 motors, 4 oils, 4 mining | and metals, 3 amusements, 3 rails, 2, utilities, 2 silk, and 2 airplanes. In ad- | dition there were 7 miscellancous stocks | ich rose 50 per cent in value. | O mlethe Hises in these stocks have | obviously been discounting improved | condition of the companies concerned, | at the same time holders should realize | that from a purely technical standpoint | those stocks which have advanced most rapidly are most apt to decline in the event of a technical reaction in the market. | | (Copyright, 1928.) s gl | WILL APPEAL FARE CASE. | ALTIMORE, December 6 (Special). e United Rallways, which controls The trolley system of Baitimore, will ap- | peal from the decision of the Public Service Commission fixing 6.26 per cent | as the rate of return in making the car fare 10 cents, with four tokens for 35 cents, it was announced by the com- | esterday. P move for a straight 10-cent fare, | which was expected, will be closely fol- Jowed by street car officials all over the | country. It is understood the case will be rushed through the Maryland courts | so that an appeal to the Supreme Court of the United States can be taken on the ground of confiscation of erty. | P efore the commission held its latest hearings on the depreciation reserve | for the United the Supreme Court ruled | out the United's first appeal, holding | that the case was still pending. PARIS, December 6 (P —Prices were firm on the Bourse today. Three per cent rentes, 65 francs 30 centimes; 5 per cent loan, 92 francs 35 centimes. | Exchange on London, 124 francs 18 | centimes. The dollar was quoted at 25 francs 60, centim: 23 100 3 88% 7 90 18 Waestern Pacific 5s. Wast Shore 45 2261, Wheel& LE rf 41 Wis Cen gn 4s 49 9914 8814 90 821 9014 | 82% rand 20.22 for SPUR TO HEAVY LIQUIDATION SEEN IN HIGH MONEY RATES Special Dispatch to The Star. NEW YORK, December 6.—That the high rates for money which have ex- isted for nearly six months are begin- ning to get under the skin of those who speculate in stocks on margin has been apparent in the liquidation which the market has experienced since the end of November and which was conspicu- ous at times again vesterday. So long s stocks were rising, the public gave little heed to money rates, even when they went to 8 and 10 per cent last month. Tt is a different story, however, when stocks are declining, as they have been since last Friday, and profits are being shaved off at the same time that the cost of carrying stocks is mounting. Many of. the pop- ular issues yield less than 3 per cent, which makes them burdensome to carry with the cost of money 8 and 9 per cent, Former High Rates. The large national banks and trust companies which do most of the lend- ing in Wall Street find an actual scarcity of money. They would not be surprised to sce rates this month as high as 15 per cent. Yesterdav's re- newal rate of 9 per cent was hgher than any similar rate in eight years. In February, 1920, however, call money | loaned at 25 per cent, which is the racord since the Federal Reserve sy: tem was established. Prior to that date there had been rates as high as 125 per cent during the October panic in 1907, and in the COTTON IS STEADY IN EARLY TRADING Market Unchanged to Decline of Three Points on Open- ing Sales. By the Associated Press. NEW YORK, December 6.—The cot- ton market opened steady at unchanged prices to a decline of 3 points under | easy | realizing promoted by relativel Liverpool cables. Trading was quict with comparatively little demand in ev dence during the early trading. prices sagged off to 20.25 for January May. or about 6 to 9 points net lower. Private reports esti- mating the crop at figures ranging from about 14.100,000 up to 14,300,000 | bales were published, but as they were | within the range of recent private re- ports they appeared to have little effect on_the market. Private cables said there had been the Liverpool market. but that Bomba had been a buyer of May there. Sl - Stock Rights Offered. ‘' NEW YORK, December 6 ().— American Superpower Corporation 1is offering class A 'and B stockholders of record December 10 right to subscribe to class A common shares in the ratio of 3 shares for every 20 cl shares. Offer will call for issuance of about 200497 class A shares. and | | York sold at 2.00 per 180 pounds. panic of 1893 call money went to 365 per cent, a figure that compelled bor- rowers to pay at the rate of 1 per cent a day. In the midst of the high money ex- citement yesterday came the report of Secretary Mellon of the operations of the Treasury Department for the past fiscal year. In this he made pointed reference to money conditions. He stated with great frankness that the Federal Reserve system had adopted the policy of higher discounts and of the sale of securities in order to con- trol, if possible, the speculative activity but admitted that this action had not been effective in curbing the public passion for stocks. As a matter of fact, by far the larg- est. advances in all classes of stocks during the bull market are those that have occurred since the early part of July, when the maximum discount rate of 5 per cent was established in eight of the 12 Federal Reserve districts. See Cure for Illls. There have been rumors this weck that the Federal Reserve Bank of New York might raise its rate above 5 per cent as a final measure to control spec- ulation. It could do this with less dis- turbance to business now than would have been possible, when the Autumn demands for commercial money were at their peak. There is no evidence, however, that any such step is being considered, for the Federal Reserve di- rectors feel that the existing high call money rates are gradually working out a cure for the speculative ills. NEW YORK PRODUCE MARKET NEW YORK, December 6 (Special).— Upstate New York apple prices tended downward. U. S. grade, No. 1, 21- inch McIntosh apples sold at 10.00a12.50 | per barrel: Rhode Island greenings | realized 5.00a5.50 for stock of the same grade and size, and Wealthies, 4.0025.50. | Various other varieties brought fror | 350 to 7.00. White potatoes from western New Long d Green Mountains sold at 2.50a .65; occasionally some extra fancy se- | lected large stock commanded 2.75a2.85. | White cabbage from Texas sold at Islan 2 ANC WHEAT IS HIGHER IN EARLY DEALINGS Trend Based on Crop Estimates, By the Associated Press. CHICAGO December 6.— Influenced by relative firmness of Liverpool quo- tations, wheat values here averaged n little higher early today, with corn and oats likewise tending upward. Unoffi- cial estimates issued today on the con- dition and acreage of domestic Winter wheat proved to be about as expected. Opening at 74 off to % up, Chicago | wheat sagged somewhat, and then hard- Corn and Oats Also Show Upward | 1AL Seeks Incorporation. BALTIMORE, December 6 (Special) —Incorporation papers for the new Glenn L. Martin Co.. airplane manu- facturers, were filed with the State Tax Commission yesterday. > The incorporators a: Huntington- | Cairns. John W, Aviertt, 2d. and H. H. | | Walker Lewis. The directors are Glerin L. Martin, Myron G. Shoals and Thomas H._Jones. The authorized capital stock is 30,000 shares at no par value, but for the purpose of taxation the commission puts | a par value of $100, which would make | | the capitalization $3.000.000. | 50-Bale Trading Deferred. NEW YORK, December 6 (#)—Di-, rectors of the New Orleans Cotton Ex- change have postponed for 60 davy opeping of trading in 50-bale cotteh) units. ‘Trading was scheduled to start| ened again. Corn started unchanged to « higher, and subsequently showed some gain all around. Provisions in- clined downward. Unwelcome heavy rains in Northern Argentina and a forecast that wheat shipments from Argentina would show some decrease accounted largely today for comparative firmness of the Liver- pool wheat market, and helped at times to life wheat values here. In addition there were advices that, although wheat ylelds in part of Australia are excellent. the yield in Western Australia is very disappointing and will be 10,000,000 bushels less than expected. Private reports given out in Chicago today indicated that 30.7 per cent of the 1928 domestic wheat. crop is still on the farms. The total new Winter wheat area was estimated at 45,117,000 to 46,610,000 acres, and the present con- dition at 94.9 to 97.3 per cent. These reports failed to affect the market, being near to what had generally been predicted. Woolworth Sales Increase. NEW YORK, December 6 (#).—Sales of F. W. Woolworth & Co.’s stores in the past 11 months increased to $241.- 873,941 from $228.850,284 in the first 11 months of 1927. November sales 2.75 per 11;-bushel hamper. Upstate New York cabbage was 45.00 | per ton. Gelery in the rough from the western part of the State sold at 2.00a2.75. oc- | casionally 3.00 per two-thirds crafe. | California celery wholesaled at 5.0026.50 | per Jarge crate. | Consult Us First If you need money for your Real Estate financing let us have your application | London and Alexandria liquidation in | il s A and B | today. | Prompt Service il No Appraisal Fee i The Commercial National Company Incorporated Paid up Cash Capi Commercial National Bank Blds. 1th and G | Hi totaled $24.660.243 against $23,730,387 | in November, 1927, | December 1 —_— g\m\\\\x\\‘\sx“s\‘\\v,’ % si00 LO«ANS 300 5 —on household farniture o ments at legal rate of int brokerage charged. o loans in Virginia. a 102 South St. Avaph St Alexandria. American Small Loan Co. 3306 Rhode Island Ave. Mt. Rainier. Md. | ,\“ \_’7\\\‘“\\\\‘\\\\\\ | OFFICES | For Lease In the Edmonds Building 917 15th St. Located in the center of the Fi- nancial and Realty Districts. eral desirabl Very low renta [SHANNO & LUCHS 135 K St. Main 2345 ARARRRRARANAN A B S i 2 2 CLARK,CHILDS & COMPANY 120 Broadway New Yo rk, N. Y. WASHINGTON OFFICE 1508 H STREET NORTHWEST MEM) NEW YORK STOCK EXCHANGE NEW YORK COTTON EXCHANGE NEW YORK COFFEE EXCHANGE NEW YORK CURB MARKET NEW YORK PRODUCE EXCHANGE BOSTON STOCK EXCHANGE CHICAGO BOARD OPF TRADE CHICAGO STOCK EXCHANGE 5020 Telephone Metropolitan 5021 JAMES SLOAN, Jr., Manager United States Realty and Improvement Company George A. Fuller Company and Subsidiary Companies Executive Offices: 111 Broadway, New York City Cash and Government Securities.. . Bills Receivable Accounts Receivable, including amounts due on Building Contracts. Building Plant, Equipment, Materials, Hotel Plaza Furnishings, etc. Deferred Charges, Unexpired Insurance, etc - Mortgages Receivable, Securifies of and Ad- s ICHO I e el Cltias S50 Tves et 1o Othee Stachaa oy Bard at cost. Real Estate and Buildin Building, U. S. Realt, Building, Hotel Plaza, vers Building, Boston and unimproved real Leaschold and Improvements. HARRY S. BLACK Chairman of the Board EDWARD J. BERWIND d-While Coal Min- President, The Berw, ing Co. HARRY BRONNER Blair & Co., Inc. LOU R. CRANDALL President, George A. Fuller Company America. More than One Billion Dollars of building contracts have heen succe es: (All at cost) Trinity e CONDENSED CONSOLIDATED BALANCE SHEET United States Really and Improvement Company, Ge orge A. Fuller Gompany and Subsidiary Companiss As at October 31, 1928 ASSETS $ 4,460,580.82 366,597.76 2,131,901.24 2,428,088.51 642,539. d Cor es s, Building, Whitehall New York City, Law- 45,506,207.67 0.46 __ 578,92 $76,520,07 LIABILITIES Accounts Payable. Preferred Stock Dividend ( Canada, Itd.). ....... Taxes and Interest Accrued. .. . Total Current Liabilities. . uller Co. of $ 950,104.52 11,250.00 1.208,628.18 §72,269,982.50 Advance Payments on Contracts and Rents and Deferred Credits e Mortgages on Companies’ Real Estate Outstanding Stock of Subsidiary Com George A. Fuller Co. of Canada, Cumulative Guarantced and Par Preferred Stock. . . ... George A. Fuller €ompany: $6.00 Cumulative and Participati Preferred Stock without par value. t 1.016,293.07 ,445,000.00 anies: Ltd., 6% icipating ng Prior —45,000 pating Prefer- ence Stock without par value —36,500 shares Interest of Minori Operatin, and'Sury Capital Stock: 102 hares D — - DIREE GEORGE A. FULLE 111 Broadaay, New A. L. HUMES CHARLES E. MITC| Preiiint New York HENRY S. PRITCH Precident, Carnegie Messre. Humes, Buck ¢35 Smith The: National City Bank .of Advancement of Teaching TORS ~ver R York 25 Broadway HELL W.E.REIS Pynchon &3 Co. EJT Foundation for the JOSEPH E. WII ey HE GEORGE A. FULLER COMPANY is one of the largest and most successful building organizations in 000.000 Shates No Par Value ¢ Stockholders in Plaza 1,459,961.64 .128.00 6,258.10 8 467 PERCY A. ROCKEFELLER New York JOHN D. RYAN Chairman, Anaconda Copper Mining Co. DENER Land Title Building, Philadelphia, Pa. ully executed by this Company, within twenty-five years. By reason of their large and varied experience, the executives constitute a pre-eminent authority on the improvement of real estate. Moreover,the large volume of this Company’s business, together with its strong financial standing and valuable con- nections, gives it the power to purchase on the most advantageous terms. These facts, together with the suggestion that it is prepared to assist in the financing of sound building construction contracts, make it advisable for those contemplating the improvement of real estate to call upon this organization. The officials of the Company, suggest that the present is an exceedingly propitious time to carry through the improvement of real estate. The near future, it is believed, will bear witness to the correctness of this advice. CHICAGO Marquette Building Canada Cement Building, Montreal, Canada L GEORGE A. FULLER COMPANY BUILDING CONSTRUCTION Executive Offices: Flatiron Building, New York City BOSTON Lawyers Building PHILADELPHIA Morris Building GEORGE A. FULLER COMPANY OF CANADA, LTD. v v . WASHINGTON Metropolitan Building, Toronto, Canada