Evening Star Newspaper, December 7, 1928, Page 15

FIN NCIAL. THE EVENING STAR, WASHINGTON. D. €. FRIDAY, DECEMBER 7. FINANCTAEL. CONVERTIBLE BOND [w o BONDS et sl Received by Private Wire Direst to The Star Ofics UNITED STATES IRABBIT SUPPLIES By the Associ New Treasury Certificates. ed Press. An issue of two series of Treasury certmcn(es of indebtedness totaling ment financial needs as the year closes, was announced yesterday by Secretary Mellon. Both issues will be dated De- cember 15, 1928. One of the series will be for nine months, maturing September 15, 1929, and will total approximately $200,000,- 000. The other will run a year and amount to about $300,000,000. The proceeds will be used to meet obligations of the Government which fall due this month. About $570,000,000 of Treasury certificates become payable during the month, while interest pay- ments on the public debt will require approximately $95,000,000. Mr. Mellon said funds received from the certificates, together with money on hand, would enable the Treasury to meet the pay- ments. High. 5 Sinclair Ol 7s. 103% 103 103 Sinclair Crude 5% 97% 9% Sin Pipe Line 5. 95 947% 95 Skelly Oll 5%s 93'2 93'a 8o Por Rico Sug 7s. 106% 106'% 10315 103'5 1027 1027 (Saime are in $1.000.) Sales. High. Low. Close Lib3%s.... 23 9921 9918 9919 Lib1st44s Dealers Report Little De- mand, With Huge Receipts at D. C. Market. ISSUES SHOW DROP Market Affected by Stock Price Slump and Higher Money Rate. 87 100 11 1008 100 % Lib 4th 4145 131 10022 10017 10018 US3%s43. 4 99 9R3L 99 Southwest Bell 55. US3Ys... 1042 10330 1042 | Stand Ofl N J 53 46. US4s1944. 27 10523 10619 10623 | Tenn Copper 65'41. 111 US4ys52. 60 11124 11120 11120 |TennElecPow 6s 47 % 106 106% FOREIGN. Transcontl Oi1 618 102 . ) $53.. 22 9615 96 9 Suies High, Low. Close [nitex Deugs 38 s Argentine 6s Ju 100% 100 100 :;2:,::“;:;”’ S0 B Argentine 6s 100 100 100 |USQMB AR, . o ‘Argentine 5148'62. 25 96% 96% 96% |53 e iy Utah Pow & Lt 68.. 100 Argentine 65 A. 100% 100% 100% | U 4 Bh { Argentine 6s B 101 100% 100% | Vertientes Sug 7s.. ¢ e, NEW YORK, December 7.—A de-|Australiadlsss6... 87% 87 874 Te% Syt 0 Australia 5s 19 .16 96% 96 965 | W 104 moralized stock market will always have | A ustralia 58 195 5 961, 96 96| Westighouse : ! 40 a certain effect on even high-grade | Austria 78....... 103 102% 102% _'“H-"Vr_fi’r‘r' 2 2 :g_{:: bonds. This may happen when money | Bank of Chile 6%s. 14 98% 98 98% Wilson & Co 1st 6s. 4 103 Toc conditions are favorable to invesument |Belgium 8s........ 14 101 100% 130 «| Yngstn S&T 5s wi. J ocause of liqui nds to pro- | Belgium 61 24 106 105% 105% :"4 :m.:ppc(:aflaltfi\;d:c‘égfin‘:;_m 45 10 PTO" | g gium 75 1 21 108 107% 1074% NAILN°A°~ Today's bonds were weak not only be- | BelEIUm 78 1956.... 18 106 105% 1057 | At&SF cvt 45 05 cause stocks have been deeclining, but | Belglum 7%s. 2 115% 115 115 | Atchison ad) 4s.... through the effect on them of still | Belgium s. 110 110 110 | Atchison gen 4s... " : 5 - |Bolivia8s... 105% 105 105 |Atlantic CL 1st 4. ek ;a“fl;n:"’l’"'gz‘::-‘ior";g:‘;%':‘l:’c’{’?o Bordeaux s 100% 100 100 | Atl& Dan 1St 4s 43. T B B rines i k. @wwe ver, (at apy | Bresi Swn 95 94% 95 |B&OGold és. time show such weakness. For the best 4 ;-‘;’- fi(" ,fi,: qualitv rails and public utilities they 2 }o;v :nn o “were ¢t loss than half a point. fl"}‘i Branioy e of .i\hr:“\;:‘ulmm_\ grades declineed half | 1omet S0 T8 e Those issues that make up the bond lgg:- 12" l:‘;‘ market average show a decline since | o0l o) iy iy the 1st of March of less than a point, | SHie MS €1 o which is quitc remarkable in view of =i e adverse influences at work. |'nm ) turally the convertible bonds were | (hT/SHARI 85 n 4 1000 100% 1000 more susceptible to the speculative |0 °prit PSR Ry 10 s ettlement. With _Andes Copper [ cono, 0 FPIR S 20 4 A off 18 poinis from its recent |Gopennagen 5s ot 3 righ, the 7 per cent (mn;;(fl:‘le b.:n? Cuba 5%s8. i have had to make a readjustment t0|cyecho 8519 . 2 this in a decline of over 50 points. At |Crecno 8s 1 s 10 1 one time today they were down 7 points | pop o 'e J from yesterday's closing. Public Serv-ip 15158 Mch 53 ice of N. J. 41.% were off 3 points and |y cch East 1 65 47 103% 103% 103% | Central of Ga 53%s. Barnsdall 65 about the same. Dutch East I 63 62 103 103'% 103' Some of the industrial MOTtEAges | pininy'syey s - - ghowing the effect of market pressure |yl g (FEis " 2 G5 G5 a5 | Cent Pac lat b8 0.+ ‘were Dodge 6s, which sold at the low- [ g hat0 2 ot T+ o | oo oo g 1 ot sinoe Beptetbers - 8. SHDDEL B8 frea merican 73 104 103% 103% | Cnes 9 9 Hudson, Coal 5s off a point, Consolida- | pranen 74 5 107% 107 = 1073 dei tion Coal 5s near the low of the Year. | prench 735, $160 Sho 160 International Telephone 4135 a poln i - S CB& QA8 TTB. . jower and St. Paul General 5s, Chica- | Germans. . g ’2?_ Ch,BEQ’?" Mo 0 & Eastern Illinois 5s, Denver & Rio | cet &% YAO 8-+« B BIW 8T 8741 0'p g 1113% e R ki [0 S 7 a8t 95 98 |Chi&E 1Nl gn b8 bl.. and Missouri acific 4s. - S bt o, The decision of the Treasury to use | FAltL 8. ... .. b A 41, per cent note for its December | ;i cot ATer g il financing_occasioned some surprise in e 4 1015 101 View of the stringency in the money ! ITish Free State 5s. 97 97 market. Doubt was expressed in invest- :my 7s... 4 9715 97T 9Ty ment quarters whether the issue would | [talian Pub 96's 96'% 96'% meet with the success accorded the |Japanese6iis. 2 101% 101 101 October 43; per cent notes. It is evi- | Marseille 6s.... 100 100 100 dently the belief of the Treasury offi- | Mexico 43 04 asntd. 10 21% 21% Milan 6%s.. 7 901, 90 90 } cials that this week's break in stocks 3 will relieve the money situation through | Montevideo 7s 3 101% 101% 101% | Chi & W Ind cn 4 3 Netherlands 6s 54 10015 100% 100% [C& W I15%s862.... 21 104% the release of a considerable volume of credit now tied up in speculation. New So Wales 57 94 933 91 |CCC&StLrfésA. N 93 9314 | Clev Term by 1,000,000 Shares The Goldman Sachs Trading Corporation Capital Stock A flood of rabbits, for which there is little demand, is causing a serious problem to both the dealers and pro- ducers and has resulted in the lowest | prices for the past several years, it was revealed today by dealers at Center Market. | Recent reports of a disease prevalent among rabbits that is injurious to humans have resulted in this situation It wes pointed out ,however, that every rabbit offered for sale in the local market is passed upon by Government Inspectors and guaranteed to be free from any disease or other defect that would be harmful. The wholesale prices on rabbits are quoted at 25 cents each for the No. 1 grade and 15 cents each for the No. 2 grade. Merchants were today able to obtain 1001 | any kind of sea food desired by their s customers and at prices designed to make it attractive. Meants, butter and | ;ggs remained unchanged in price to- ay. Butter—One-pound prints, 53a54; | | tub, 52a53: store packed, 30a32. Eggs—Fresh selected, 47a48; hennery, 53a55:; current receipts, 45a46; storage, 33a35. Poultry, alive—Turkeys, 38a40; Spring chickens, 28a30; Leghorns, 25; fowls, 26a27; roosters, 19a20; keats, young, 60a80; old, 30. Dressed—Turkeys, 40a 48; Spring chickens, 32a35; Leghorns, 28a30; fowl, 30a32: capons, large, 40a 45; small, 30a35; ducks, 30a32; keats, young, 80a1.00, Meats, fresh killed—Beef, 18a2! | veal, 27; lamb, 20a25; fresh pork loins, 19a22; fresh ham, 21: fresh shoulders, moked hams, 25a27; smoked shoul- , 22; bacon, 22; lard, in tins, 1213; in packages, 14a15. Live stock—Calves. 16%;: lamb, 13. Game—Rabbits, No. 1 grade, 25; No. 2 grade, 15. BY CHARLES F. SPEARE. Special Dispatch to The Star. CAPITALIZATION Authorized 2,500,000 shares To be presently issued Capital Stock (no par value)... a 1,000,000 shares o The Goldman Sachs Trading Corporation has been formed under the laws of Delaware, to buy, sell, trade in or hold stocks and securities of any kind, to participate in syndicates and underwntm(s and to exercise such other of its charter powers as its Board of Directors may from time to time determine, The Corporation will commence business with $100,000,000 in cash, arising from the sale of 1,000,000 shares of its capital stock to the undetsl;ned and as the underslgned will pay all of the expenses in connection with the orgamzatlon and the issue and distribution of this stock, the above sum will be net to the Corporation. Of the said 1,000,000 shares, 100,000 shares are being purchased by the undersigned at $100 per share, for their own account and are not included in this offering. B&O 1sthsect. H&-Urtlmuu B & O Toledo 4s Bang & Aroos 4s 51. Brdway&ith Av 5s Brooklyn Elec 6% Brooklyn Elev 6% Bklyn Mannat 6s Buff R & Pitt41s.. Can Nat 434830, Can Nat4les 54, Can Nat 4%s 67 Canad North 6¢s.. Canad North 7s. Canad Pac deb 4s 8 104% 104% 104% | Can Pac 4%s 46. 102% 102% 1028 | Car Clinch&O 68 52, w = e O L LT L The Board of Directors of the Corporation is composed only of partners in the firm of Goldman, Sachs & Co. The Corporation has entered into a management contract with Gold- man, Sachs & Co. under the terms of which that firm will receive no compensation unless the Corporation earns annually 8% on its capital and surplus as of the beginning of the year plus appropriate Mjunmems for capital added during the year; in any year in which the realized net profits exceed this 8%, the firm will be entitled to receive an amount equal to 209%, of the net profits but only to the extent that the payment thereof will not reduce the net profits below this 89%. The requirement for the annual earning of net profits of 8%, shall be cumu- lative, so that if, in any year, the Corporation shall fail to have net earnings of that amount, the deficiency must be made good in subsequent years before the Firm will be entitled to receive compensation. © 1 Sorwraw Central Pacific 4s. . The certificate of incorporation lnd/or the management contract contain provisions to the following effect, among others: 1. All stock now authorized or issued is of the same class, and all shares have identical rights as to voting, dividends and otherwise. 2. The stockholders, by a majority vote, may terminate the management contract at any time. If any director shall be elected to the Board of the Corporation without the approval of Goldman, Sachs & Co., the management contract may be terminated by Goldman, Sachs & Co. pon a termination of the management contract, the Corporation shall, at the request of Goldman, Sachs & Co., change its name so as to eliminate all reference to Goldman, Sachs & Co. No stockholder shall, of any clas: The Corporation will not take over any securities now owned by Goldman, Sachs & Co. That firm may deal freely with the Corporation, but in any transaction between them, Goldman, Sachs & Co. will accept the responsibility of the fairness of the transaction. There are no optlonl on any unissued stock, nor has the Corporation any other agreemzntl except those herein referred to. The above is subject to the more complete statements contained in the certificate of incorporation and the management contract, copies of which may be obtained from the undersigned upon request. Wholesale Market LMMHBPAPMEEI 5. H6 CMSP&Pacadj5s03.312 n 4s.,.. 14 %s. 10 Chi Rys 6s... ChiR1&Prf4s 3 9 9% CRIPac4lswi.. 16 934 92% Chl T H inc 68 60 19 Chi Union Sta §s The dally market report on fruits and vegetables (compiled by the Mar- ket News Service Bureau of Agricul- tural Economics) says: ol Apples—Supplies moderate; demand 4 101% 1014 | moderate, market steady. Boxes: Wash- 8ia ington, medium to large size, extra 1025 fancy Delicious, 4.00a4.25;. Romes and 100% 100 Staymans, mostly 2.50; Jonathans, 2.25 & S 1043 22.50. Bushel baskets: Pennsylvania and RS P T 3 103 {C&S1st4s2 99% Virginia, U. S. No. 1, 2'; inches up, Washington Stock Exchange 9T 9T 07w ‘ T s Y78 < 2 100% 1003 100 v | 8inia, U, 0. -inc] rimes, SALES. v 6519 5 103" 103 103 | Cuba Nor 834 cte.s 8200, Capit-1 Traction 55—$500 at 103%. 9 102% 102% 102% | Dol & Hud 1st rf 4s. 23 Cabbage—Supplies moderate; demand Fotoraac Elcc. Cons, 55—82,000 at 101%. | Norway 64819521 2 103 103 103 | Del & Hud 1530 3 e L L O AR L Waslington Gas Light 5s—$1,000 at|Orlent Devdeb6s.. 17 97% 97 974 | Den & Rio G ends . o sacked per hundredweight, Danish type, 1031‘, $L000 at 1037, $2000 at 103%, | Paris-Ly.Med 6s 991 99% 991 | Den&RioG 4348 36.. 16 7‘%’;?:%;1]&2'7,:5““&. damand 500 at 1037 eru 6s A % 901 907 Y p Washington Rwy. & Elec. 4s—$1,000 at e 5 10213 10215 10235 | Bete a¢ conaaners 3 BN L paL (M De oo 92. $1.000 at 921, $2,000-at 92, Perulys... 9 107% 1074 107% | Erie Gen 4s.. e ongentbed Sl e Rt Capital Traction Co.—10 at 107 Poland 7s (rcts)... 26 88% 88% 884 | Eriecony4s A. e Chestnut_ Farms _Dairy pfd.—10 at & 15 99" 981 98% | Erie cvt5s 67 w1 e o g e g B i 10675, 30 at 1067, 10 at 1087, 10 at | Prague 7is, 7 105% 105% 165% | Erie conv ext 7 i e i G 107. Rhinelbe Un 7. 10 31 Fla East C 58 74. P A ¥ Potomac Electric 5%% pld—40_at, | RhineWst EP & s 90" o0 i N e e D 10815, 1 at 1084, 15 at 108, 5 at| RhineWst EP 6: 9% Sovi (inau o anK NLAbIE 375, Bastern stock: Florida, 115-bushel 2 i 4 = g % 93 U 8. TS, n , mos .00; W;Egmzmn Gas Light—5 at 102. fim:‘;:fii‘: 'ssx,:: 1"5 ";‘5 N;zl{':. “;14;: fi‘ Nor 4%376 D it ordlgnry qulllt};peand oonydmon, Wachington Rwy. & Fiee. pld—10 at | Rio de Jan8s 1346.. 6 1055 10015 1053 SRR IRLSY it snsdins: s 997, 30 at 9975, 30 at 997. Rio Gr Do Sul 88... 4 106 105% 105 b e L ; Riges National Bank warrants—5-265 | Kome 63s......s. 60 S 900 81 | icaLlorBent (A By, e at 305, 70-265 at 305. 141-365 8t 305 | San Paulo City 85.. 1 115% 116% 115% | Hud & Man sot 5 S R R American Security & Trust Co.—20 at | Sso Paulo 8%1936., 1 106 106 108 g No. 1, medium to large size, 5.00; small 45215, Sao Paulo 1950 106% 108 106 |11 Cent4ss3. to medium size, 4.50; Holland, 100-110- Barber & Ross com.—25 at 21. Saxon (PW) 7s. 100 99% 99 LiCent 4% s 6 pound sacks, yellows, No. 1, 4.00_-6,00. : Merchants' Transfer & Storage pfd.— | Seine 7s 42. 105% 108% 1054 | 11 Cent Chi 434 e er Shlpplien moderate; L0 2 at 108. Serbs Cr Slav 7. 8304 821, g3 | [I-C-C-StL&NO mand moderate, market about steady: M"rznmhaler Linotype—10 at 10533, 10 | Serbs Crot Sio 8s 970 96 96 ::: ,l::m% Ts 5 gtfim-x{} éfio&pou?dz ;;:;:.5 l;\:;s:‘t at 105% Shinyet ks ” D Te L a0 b o 4 Sweden 53 1043 104% 104 | IRt % . 8. No. 2. laho. 100-Poun Sweden 6s. % Int &G sacks, Russets Burbanks, U. 8. No. 1, Washineton Gas Light—5 at 102. Swiss b3s 19 T0g* 1omes 102% | nta&GtNor adj 8a 53 4| 25 Potomac Electric 512 % pfd.—3 at 108%, | Swiss Confed 8; 110% 110 110% | ML BysSCA 88 72... 20 at 10815 Toho El Pow T: oy, ‘98K pmi | T0E Y CAm Bkl Capital Traction Co—15 at 107, 5 at Tokio 3781961, . 17 'g‘, ‘gs._ i :"t By CASHasots 10715, 20 at 10° = lowa Centrf 45 . 10515, Unu:unyfls <o 1108 108 ma ‘\lflll!Cfl!“! Riges National Bank warrants—1 at 303. Washington Gas 65 "A’—$1000 at Tokohama 6s 8 954 95% 96 | fLan Oy Term taee 1 ot Lot simn MISCELLANEOUS. Long Isrf 4s 49, Washington Gas 6s “B"—$100 at 104%4. | ojax Rubber 8s.... 5 103% 108% 103% | Louis&Nash uni . . AmAgriChem 71%8. 5 104% 104% 104% | Louis & Nash 58 B. Bid and Asked Prices. AhSmit&R1st5s. 12 101 100% 100% | pan Ry 18t 48 90 BONDS. Am Sugar Ref 9 104% 106 104 | MK & T 1t 48, PUBLIO UTILITY, AmT&Teltrds.. 40 99% 99% 99% | yarket St 78 40 AmT & T cl tr b 1104 104 104 |Nich Cen deb 4s Amer. Tel. & Telga. 47 AmT&Ts5s.... 16 105% 108% 105% £88M cn 45, Amer, Tel & Telga. 41 20 107 4 M St P&SSM cn 4s. dmer, el & Teif Am Tel & Tel 5%8. 20 107 106% 106% | pf K & T adj 58 ‘Aracstla & Pot. R. Am Water Wks 58, 2 98% 98% 98% | a0 Py (‘"‘&‘F” P,?Lkg’;::‘!5;x Anaconda 1st 60 105'% 105% 105% Mo s < Anaconda cv db 85 174% 160 169 | Mo bac b F 77 Andes Copper 7s... 118 194 188 185 | Mo Paoific oo o 78, Armour&Co4%s39 40 93% 93 93 %877 ots. Armour Del 5%48... 12 91% 91% 91% | moneormin i Lot Atlantic Refinbs... 1101 101 101 2 Barnsdall 651940.. 36 134% 130 132 |NOTex&MSsA.. Bell Tel Pa5s B 2105 104% 1041 | NOTex&M5sB.. Bethlehm Stl pm 55 1004 1003 | N OT &M 543, Beth Steel 5%s 53 101% 102 |N Y Cen gen 3% Bethlehem Steel 6 104% 105 Certain-Td5%srets 85 86 Chile Copper 5s. 96% 96 9614 Colon Oil 6338, ... 109% 110 Col Gas&E! deb 5s. 99% 99% Con Coal Md-1st 58 % 76 Con Gas N Y 5%s. % 106 Consumers Pow 5s. 104 Cuba Cane cv Ts. 7 Cuba Cane 8s..... i 80 Cuban Am Sug 8s. 108% 104 Dery (DG) 75 nalrmlhllflonufllo, 3 ] 103 Detroit Edison 6s.. 5 108 Dodge 6s....... 102% 1027 Duquesne 4% 67. 994 99 East Cuba Sug 7%s 94 Fisk Rubber 8s. ... 111% 111% Gen Asphalt 6s 3 108 108 Gen Cable 514547 * (Gen Mot Ac Cor 6s, Goodrich §1s. 12 107% Goodyear 5s rets. 22 93 2% Hoe & Co 613s.. 4 90 90 Humble Oil 58 17 100% 100 100 Humble O & R 101% 10115 Illinois Bell 1st 5s 105% 103% Hlinois Steel 4%s. 9815 98% 98Y% ! Indiana Steel s 104% 104 Inland Stl 4%s'78, 92 9 'a | Intl Cement 5s 48.. 29 103% 102% 102% Intl Match 5s 47 .13 98 97 98 In: Paper 5s 47. 3 94% 94% 94% Inter Paper 6s. 17 98 9T 9Ty Int Tel&Teleg 4 Y 38 95 94 4% Kayser J & Co 20 134': 132 132 Kan City P & L. 10 104 103% 103% Kelly-Spring 8s 5110 110 110 Lael a 2 102% 102 102 4 104% 104% 104'% 4 110% 81 a matter of right, be entitled to subscribe to any additional stock Price $104 per Share This offering is made subject to allotment or prior sale and in all respects when, as and if issued and accepted by us and subject to approval of Messrs. Sullivan & Cromwell. It is expected that deliverv of tem- porary stock certificates or of interim receipts will be made on or about January 4, 1929, at the office of Goldman, Sachs & Co., 30 Pine Street, New York, N. Y., against payment therefor in ‘New York funds. GOLDMAN, SACHS & CO. AFTER CALL. Capital Traction Co.—10 at 10715, strl.ng beans—Supplies moderate; de- mand moderate, market steady; Florida, 7s-bushel hampers, green, 3.00a3.50. Peppers—Supplies very light; demand light, market firm; Florida, pepper crates, fancy, 11.00. Cucumbers—Supplies very light: de- mand light, market dull: Florida, square bushel crates, fancy, 3.00a3.50. Eggplant and squash—Supplies very light; no sales reported. Peas—Supplies light; demand light, market steady; California, crates, 6.00a 6.50; few high as 7.00. ‘Tomatoes—Supplies light: demand light, market steady; California, lug boxes, ripes, wrapped, medium to large size, 3.00a3.50; small size, 2.50a2.75; Ohlo, 10-pound baskets hothouse swck medium size, 2.75a3.00; large size, 2.25; small size, 2.00; r@ acked in Baltimore, unknown origin, s, ripes, wrapped, h;lcy ncnnunt 650-1 00; choice count, Why It Is Good Business To Buy a Straight Eight Instead of a Six brakes and the other did not? Likewise the Straight Eight purchased today will prove “better business” in the future over a Six of the same price class. This is for the man who spends over $1000 for a car. To begin with, a Straight Eight gives more intrinsic value per dollar invested. Then, it is as economical as a Six to operate. It will give you finer service and per- formance. (Are you one of the Six owners who have never even driven an Eight? Do so, and verify this claim to your own surprise). An Eight will stand up and endure longer, resist wear better and bring a higher resale value in the future when you want to turn it in. Remember how two cars of the same price class a few years ago, brought widely different re- sale prices because one had four-wheel Georzetown Gas 1st 5 Friomac 5;32 lf.'n:"‘ Caulifiower—Supplies light; demand light, market steady: California, pony crates, 2.00; New York, Long "Island crates, 2.65a2.75, mostly 2.75. Oranges—Supplies moderate; demand light, market steady; Florida, boxes, best medium to large size, mostly 4.00 24.50; few fancy. higher; small size, 3.00 50; fair quality and condition, me- arge size, 3.00a3.75; small size, . navels, me- dium to large size, 5.00a5.50; very large size, 4.00a4.50. Grapefruit—Supplies moderate; de- s mand moderate, market steady: Florida, NY NH&H4%s. boxes, best, medium size, 4.0084.25; fair NY NH&H cv db 6. quality and condition, medium size, 3.25 Y NH&H clt 63 3 ¥ 83.50. N'Y Rys 65 65. Y State Ry 4% :' Ringion o ashin Sas Wash. Gas 6. I Auburn offers the greatest Straight Eight value for the least cost; a four- door closed car, 125 inch wheelbase, Powered-by-Lycoming, the strongest frame under any automobile, and many decided advantages such as Bijur chassis lubrication. Furthermore, Auburn protects the owner’s invest- ment by a design that does not go out of style over night. Auburn be- lieves design should remain saleable as long as the mechanism does. There- fore it is good busi- ness, (money made and saved) to buy a Straight Eight, par- ticularly an Auburn Straight Eight for— & » 92° ‘93’ Nash. Rwy. & Bles. s%n6r. 102% ISCELLANEOUS. Barber & Rozs. Inc, ool un ¥ Chase. Club St2s. D. C. Paper Mfc. 6s... Fot_Jomnt Stock Ld. Bi.. 5i.. g Coif Storase sa, ons. Title Co. 6: Park Hotel STOCKS. PUBLIC UTILITY. merican Tel. & Telaa. epital Traction Co. Sashington Gas Norfolk & Washingicn, Potomac Elec. pid; NYC&StL6sA.. New Haven 3148 54. w Haven 4s55... NYNH&H 4s56. Y NH&H db 45 57, PLAN BANCITALY MERGER. SAN FRANCISCO, December 7 (#). —Plans for merger of the Bancitaly Corporation and National Bankitaly Co. into a $418,000,000 concern to known as Bancitaly Co. of America were announced here last night. A, P. Giannini, president of Bancitaly Corporation, was said to he en route to New York, where a stockholders’ meeting will be held December 19 to discuss the project. Announcements here said the new company, if formed, would be a holding of Transamerica Corporation, another Giannini institu- tion recently organized. Officials pointed out that Bancitaly Corporation is a stockholding concern, with approximately $300,000,000 in as- sets, while the National Bankitaly Co. is a stock-selling concern with assets of approximately $100,000,000. Construction Pro)ecu. 23 10205 10215 102% NEW YORK, December 7 (#)—Large 21121 121 A2 Loriliard (1) 7s. rns 13 us |g < p 9 construction projects that reached the ManatiSug st 7%s8. 1 97 97 97 . | proposed stage last week showed a sub- Mid-Con 6%s 40 3105 105 105 stantial increase in money value com- Midvale Steel 58 9 100% 100 100 |Seab A L con 65.... pared with corresponding week a year Mont Pow 55 43.... 5 102% 10214 102 |S B All Fla 6835 A. 721, | 880, McGraw-Hill Construction Daily Mor's&Co 1st 4%4s. 13 87's 87% 87':|Sou Pac 4829... 3 reports. The total was $86,350,000 for at Tub 1t 58. 1 104%% 104% 104% | Sou Pac clt 4s. the whole country, against $65,520,000 ewEnglandTel 5 106' 106'a | Sou Pacific ref 4 in the corresponding 1927 week. A gain Y Edison 5s 44. 10274 103% | Sou ’ac 4% s rets in public gm!ecta. chiefly road con- Y Edison 6148, 5 1147 115 struction, offset a decline in commercial YGELH&PbS 4 107% 107% building. 107% 107% y 3 sigiee gy Will Buy New Equipment. NEW YORK, December 7 (4#).—Atchi- son, Topeka & Santa Fe Railway is to spend $15,000,000 for new equipment, including 4,500 freight cars, 64 pas- senger cars, 21 gas-electric cars and 4 passenger locomotives. The road has ordered 2 diners from the Pullman Co. Orders will be placed shortly for 10 coaches, 10 chair cars and 30 combina- tion baggage and m-u cars, PARIS 30UBSE PBICES PARIS, December 7 ().—Prices moved ularly on the Bourse today. Rey. & Elec pfd NATIONAL BANK. PRI, oo Northern Pacr i 6s. e ; Ore Short L rfs 4s. Ore Short L 55 gtd Ore Wash 1st 4s. .. Pennsyl gen 4%s. . Penna R R 435 '63. Pennsyl gen o5 Pennayl 58 64. | Pennsyl 6148 Pennsyl gold 7 Pere Mar 1st 43 56 Portland EI P L 68. Port R L & P 55 42. Reading gen 4745 A Rio G W ist4s... | Rio G West cl 45 StLIM&S 4529... SIL IM&S gn 58 31. StL IM&S R&G 45, SULESTpl s AL n ional * Meiropolitan. warrants n ional Bank of ‘Washington. TRUST COMPANY. ."ITM'\( Co FIRE INSURANCE American Chrcoran Firemen s National Union TITLE INSURANCE. umbia_ Title tate Ti0e ¢ Md. com. 239 1 &coms. e’y MISCI r,LLAqus. K 100% 1004 [ TexArk FS 5308 50. T ser ik pia 38 3 7 101% 101% | Texas & Pacific 1st. Nab securities bid.. 3 4 32 103 108 | Tex & Pac $8B 1977 ederal Rmerican Go." 100% 100% | Third Ave ref 4s 60. eeral-American pia = Nor States Pow 6s. 9 105% 105 105% | Third Ave adi Trane. & toraze. Pacific Gas & El5s. 19 103 103 103 |Tol Tr L&P 5% 30. Trans. & Storage’ pfd. Pan-Amer Pete 65, 16 105% 105 106 {10100 pag 18t 48 fer Senthaler” Linoiype ‘s 1055 | pan-Amer Pete7s. . ¢ 104% Joay, | Jnlon Dae 35008 Paramount 631947, 11 100% 100 100% | 1o B2 0 I g Pathe Exchange s, 13 79% 79 79y, | UMOR PACHC IS0 People s Gas 5s. 11045 104% 104% Phila CoGa 67w i, 22 99% 99 Petro5%s.. lx 931y 93% ielsjeclel ANBAURN AUBURN AUTOMOBILE OOWAN\'.VAUBUEN, INDIANA Pries 1. 0. b Aubarn ot Connervells, Ind. Freight end aquipment estre This is the first showing of the New Series Models we will exhibit at the New York Auto Show. WARRINGTON MOTOR CAR CO., Inc. v;r—w-flg i U Mtge. & Inv. prd ,pm Dy Stores pid virginia Ry 1at 5n . va Ry » . 'X'"““L‘yfx‘fiufu{zrx‘a x i v | Wabash 24 B al 4 1o6% 108%| wabash 5s 76 B. 150 ‘cents extra. Postal Tel & C5%s. 13 95 94 94y | West Maryiant 2a Pressq Steel Car 5114 96% 9513 9314 | WSiarn Pacific 54 i rr Public Service 4138 339 162 156 Wilks-B & Bl 1st 58 2 68% ree per cent rentes, 65 francs. Punta Alegre 7s.... 10 94% 93% KA Wis Con gn 4549... 1 83 83 83 |Five per cent loan, 82 francs 85 cen- RemingtonAr 6s 32, 20 100 100 100 times, Rem Rnd 5%48 w 2 94 93% 94 Exchange on London, 124 francs 17, Sinclair Ol §s 23 99% 9914 99% Only 22 States have laws regulating 'centimes. The dollar was quoted li Sinclair 011 6% 18 101% 108 101} the employment of children. 25 francs 60 centimes, ¢ 1712 Conn. Ave. Pot. 44 ——— Roanoke Model Garage Roanoke, Va. Penn Motor Co. Clarendon, Va. Sheridan Garage 2526 Que St. N.W. Joseph Raflo Leesburg, Va. NEW YOKK BANK CLEARXNGS NEW YORK, December 7 (Special). WNew York bank clearings, $1,492,000,- 000; New York bank balances, $138,000,- New York Federal credit balances, 'l.: ,000,000. Pine and Connor Winchester, Va,