Evening Star Newspaper, December 9, 1928, Page 53

L] STAR., WASHINGTON, D. C, DECEMBER 9, 1928—PART WASHINGTON GAS STOCK DECLINES Sesurity Reaches New Low on D. C. Exchange—Trad- ing Heavy. THE SUNDAY BOND SUMMARY FOR THE WEEK h. Lo U. S BONDS. High. Low. Last. Yield 10126 989 Liberty Sis 1933-47..... 9924 ¥9 16 99 17 103 15 100 Liberty 19t 4% s 19324 100 18 100 8 1007 1079 Liherty ¢th 4% 1933.38. 100 26 100 17 99.20 98 U S 33s1940-43 99 : 9818 10310 $89 US33s1943-47 9922 992 118 6 10930 US4%s1947-52 FOREIGN. 1959, Gas 6s, series A and B, small denominations around levels. Capital Traction stock sold at 107%3, Potomac Eléctric 52 per cent preferred at 108! and 1083, and the 6 per cent issue at 11115. Chestnut Farms Dairy common sold at 180 and the preferred at 107. Barber & Ross closed the week at 21. There were six 10-share sales in Mergenthaler Linotype at 10574, and two 50-share sales at 105', this issue leading the session in volume, Forty shares of Firemen's Insurance Co. changed hands at 37. Only one 20.shares of Raleigh Hotel Co. stock sold at 90. MEETING DATE SET. e tion ot tha. DIkt Bankers' Astocia " n of 2 nkers' ocia~ Will Isste New Stock. tion will .hold its first meeting next NEW' YORK, December 8 (#)— |Friday at bankers' headquarters. United States Smelting, Refining & Mining Co. directors have authorized issuance -of 219,447 additional common srx"‘dnl!)e to cob?m?r; stfcl;?gldenho( "f' | o cember a a share in | o % the ratio of five-eighths share for each | Vith the new. smaller-sized qurrency B |which will be issued by the United i‘e‘a:: ’;;'géo'o%’o“fig‘ p::” ode, used 0 | States Government next year, the State t | Bank of Cnicago is distributing certifi- e | cates the exact size and shape: of the Washi moved cent 102 14 100 23 10330 102 28 STOGK PRCEDRIP BECOMES VOLENT = = 100 12 Speclal Dispatch to The Stat, 107 18 - Bankers' Financial Tr. Basic Industries Shar ares res. NEW BILL SIZES SHOWN. In order to acquaint its. customers 103 2 Colontal Invest Sh ‘s . High 1004 100% 100% 101% Ry 106 Argentine. June i Argentina 6s A-1 Australla 6s 1958 Austrin s 1943 Bank of Chile 6 Market- Reaches Low Level s U § dhures Washington Gas Light stock wound as Leaders Break in Selling. By the Associated Press NEW YORK, . December 8 —Prices crashed violently for the third successive day on the stock market today, Radio making a spectacular dive of 72 points to 296, which is 124 points under Au1 record price established this week. The market opened with pools supporting a few favorites, but all support was with- drawn when Radio began to slip dizzily. Wright Aero lost 26 points and Mont- | gomery Ward, Case Threshing and | Byers 20 to 24. Sears-Roebuck lost 10, Packard, Johns Manville and Chrysler about 8 and General Motors 5. Among the handful of gains, Bethlehem Steel | ¢ and General Electric each closed more | than a point higher. | The violence of the reaction today | was attributed in large measure 1o forced liquidation of weakened mar- ginal accounts. Because of the high margins required, most speculative ac- counts were able to withstand the sell- ing of Thursday and Friday, but to- day’s drastic break necessitated the dumping overboard of a wide appor- tionment of issues. Bankers generally look upon the re- action as a natural correction of a topheavy speculative position. Unless it should proceed with unusual vio- lence, they do not anticipate that it will have any material eftect on busi- ness. It is likely to result, however, in a withdrawal of funds loaned by | corporations on securities collateral, | throwing the burden of financing the | market back on the banks. i So great was the volume of trading | that the ticker fell nearly a half hour behind the market in the last half hour. The closing was weak, Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., December 8.— Under generally light receipts the live poultry market has ruled steady the past week and with a good demand prevailing desirable stock on most lines Tules a shade higher. The maiket, however, will be quiet until buyers begin on supplies for the Christmas holidays, and 100 liberal shipments are not advisable. Young turkeys, £ pounds and over, are selling 40 and 42 a pound; old hens, 38 to 40, and old toms, 35, but poor and crooked breasts are gen- erally slow sale at 25 to 30. Choice fat Spring chickens, 2} pounds and over, in good demand at 28 to 30, and brollers, 11 to 2 pounds, are scarce and wanted at 32, but Leghorns will not bring over 25 and 26, and all poor, 108' 104 109'% 104 1021 100% | s0v 24 96k 95k 110 105% 1057 103% 1105% 1024 105% 102% 107's 99 116% 105 1094 105 96 83 108% 105'% 102% 98% 97 BTl 9% 9l 104% 98% 1014 83% 108 104 116 111 126% 106% 106% 10. 94 89% 107 104% 105 97w 102% 97 105 103% 106% 102% 99% 4% 107% 1034 9T 92 105 7% 10315 100% 106 1044 98% 5 83 1057 103% 116% 106% 128% 103% 93% 88% 9 88% 103% 100% 106% 96% 107 102% 102% 98% 106% 101 96% 9z% 86% 76 102 95% 109% 107% 96 8215 108 102% 104 994 108% 104% 103 101% 105% 103% 108 © 95% 102% 7 96% 92 107% 95% 109% 99% thin stock is neglected at 20. A good demand prevails for old hens at 22 to 28. Leghorns will not bring over 21 and 22, ana all old fowl weighing less than 3% pounds .moves slowly at 18 to 20. Old roosters in ample supply and gen- erally slow sale at 17 and 18. Most of a pair for both young and old of the latter. 3 Poultry and Egg Prices. The market for dressed poultry con- T A , ut few exce) tock will not bring o Receipts ‘of native and nearby e, have been running fairly liberal fi‘; past week and under a curtailed de- to the high prices pre- , the market rules easy and unset- with values showing a decline. , being mixed with held eggs and, show_ considerable loss a - today at 50 cents a dozen. selected whites in free cases, 45 for and 43 for current receipts.’ ipts of white potatoes have been lighter the past week and under a fairly good demand the market has taken on a steadier tone with val- ‘ues a shade higher. No. 1 well graded round stock is bringing 1.10a1.15 per 100 pounds, but McCormicks and reds will not bring over 85a1.00, while 150- pound sacks sell mostly 1,50a1.75 as %o quality and size. Market for sweet potatoes and yams holds steady under moderate receipts, but ample for the demand which is limited and centered on clean, dry stock. bring full quotations, stock must grade No. 1, as all. small, inferior No. 2 as well as eull stock is not wanted at any price. No. 1 sweets are bringing 2.00a2.50 a barrel, and yams, 2.50a3.00, but dirty mud-caked stock will not bring but a little over half price. Bushel hampers fl selling 50a1.50 as to quality and 5 Garden Truck. Market for native and nearby gar- den truck rules easy, the demand-being only fair and centered on first quality stock at the following quotations: Beets, 4.0025.00 100; broccoll, 60a75 bushel: carrots, 4.0026.00 100; kale, 50a65 ‘bushel; onions, 1.50a4.00 per 100 pounds; oyster plants, 5.0028.00 100; parsnips, 50860 basket; savoy cabbage, 40a90 ‘bushel; spinach, 35a65 bushel, and tur- nips, 25835 basket. ‘The live cattle market shows little change from last week, holding steady, but quiet, under light receipts on the wharves and only fair at the stock tions today - at Light 2; common to medium, 8 to 11; < to quality, 7 to 9; cows, choice to fancy, 8 to 9; common to fair, 5 to 7; oxen, as to quality, 6 to 8; calves, veal, choice, 151; to 16; large, fat, 13 to 15; large, rough, 10 to 12: thin, 9 to 10; rough and common, 7 to 9; sheep, choice, 5 to 6: old bucks, 3 to 4; lambs, choice, 12'; to 13; fair to good, 11 to 12; common, thin, 8 to 9; hogs, straight, 81z to 9; sows, 7 to 8; live pigs, 10 to 11; shoats, 8 to 9. Clesing Grain Quetations. ‘Wheat—No. 2, red Winter, garlicky, spot, 1.33!4: December delivery, 1.33! rn—No. 2, export, Decembsr deilv- e\z’. 95; No. 2, yellow, domestic. spot, 1.02; cob corn, 4.65a4.75 per barrel. Oats—No. 2, white, domestic, spot, 57a 88; No. 3, white, domestic. spot, 56a 561;. Rye—Nearby, 1.10a1 A Hammer With a History. O. S. Wilson, a shoe dealer of Fenton, Mich., has a hammer which takes the foremost place among the family treas- ures. He has documentary evidence that the hammer was first brought to this country from Scotland in 1700 by Jessy Justice, who used it in the con- struction of some of Philadelphia’s early frame buildings. At Justice’s death the hammer was bequeathed to his son, and descending from one . generation to the next, it eventually came into its present owner's possession about one menth ago. The handle, undoubtedly made from a hickory sapling, was placed in the hammer 83 years ago. 106 103% 108% 106% 102 109% 102% 102 - 97% 107% 103 117% 114% 102% 98% 110 107% 103 100 104% 99%. 106% 101% 106% 102 101 9% 104% 101% 96% 88 101% 101 98% 92% 00 93% 99 98l 10074 97 1054 100% 981y . 920 107% 101% 101% 95% 101 99% 122% 117% 82 834 6% 9% 100% . 95 101% 99% 114 111% 89 TaM 96 824 97% 95 102% 97% 118% 116% 98% 88% 105% 102% 108% 1028 110% 108 100% 96% 984 M 20% 3% 8% 3% 94 89% 88% B5% 99% 914 1004 ®7 109% 106% 1164 114k 101% 94n 114 108 115% 118% 934 84 108% 97% 111% 106% {103 106% 10745 104 107% 104 Flm Gy 1164 105% 0% 11w $1% THl S 2% 8% 65% 98 9l 1111034 1164 111 100 u8% | v4m s 106 99t L4 1067 1135, 111% 104 100 110 102w 1054 108 1074, 1034 8% 76'% More than 6.080 Ford cars are made @aily. Capacity of Detroit plant is 10,- 600 in 24 hours. 101 98u 634 €4y 1% 101's 9% 114 108'y 102'% 40 1064 105% It 119% 1075 97% 100 94 104% 1015 108' 115% 113% 1104 96% 108% 106% 101t 106% 102% 106" 100 109 934 1064 187 241 103% 156% 109% 108 105% 974 83 97 110 109% 105% 1044 108% 102% 98' 148 1104 106 105% 106% 109% 102% 1% 19 103% 109 104 104% 108 108 101% 974% ¥1 100% 103% 1120 1054 101 29 98% 98 101 105 97'4 107% 100% 102% 123 93 96'5 100% 101% 108 103% 110% 93 2% 8% T9% 114% 88 96 9% 103'4 119% 9315 105% 103 110% 100 100% 118% 1154 95% 1034 102 86 103% 9% 100 1% 9% 1034y 100 9% 1034 103 2% 109% 105w 3% 102% 1104 109% 107 0% 84 118% 32 92 8% 2% Y7in 109% 11643 100 v 1045 114k 11s% 104% 90 L9' 19 9% 127 2% 99 109 5 106~ 107% 8% 101% ¥ 14w 109 99 93% 107 3% 100 4 104 103% 1 13 104% 944 46 Baigium 63 195 Belgium 148 Belgium 88 1941. Rordeans s 19 Brazil 6%s 1926-57 Hrazil 83 1941 Denmark Dutch East Ind: GGerman 7s 1949 Irish Free Sta italy 78 1981 lavanese 6% ceses Mexico 4s asst small 1904 4 Milan 6%8 1952.... 100 98'3 103% 110'5 1034 105 89% 105 103 Parts-Lvon Med Peru 6s 1960. Rome 6%s 52.... Sao Paulo State of. 8s 193 Seine Dept of, 78. s Swiss5%s 1946 94 IN 104 954 102's 981y 103% 83 104 110% 120 V9% 991y 104 99 1024% 93% 6 68% 106% 86% 79 101% 106'% 94 9244 106% 106% 102% 100% 99% 9L 98% 105w 113% 99% 106 100% 100% 102 1024% 97 93 116 97% 98% 108% 100 9%, K% 9l 9% 96% 2100 91 101% 964 965 5% 85% 83% 964 97 97% 96% 104's 83% 68 924% 6l% 10T TR 93% 9 974 114 B 100% 100 105 95'4 1054 1% 81 96% 93 % 964 3 ol 924 73 97 9 ¥3% bkl 9% 8 1014 99 6% 98 ud's iUty 105 104% T 11 t Toho kleec Pwr 7s 1956. Utd Kingdom 5%8 1937...40 Yokohama 88 61. .. TRIAL AND MISCELL or Azri Chemical 718 1941... Amer Smelt & Hef st 58 1947, Amer Sugar Refining 6s 1937 Amer Tel & Tel ¢l tr 48 1929, American Tel & Tels(5s. .. Amer Writing Paper 6s (1947). Anaconda Copper 6s 1963. . Anaconda Copper ov deb 7s 193! Andes Copper 7 1943 Armour & Co 4% 1939, Armour of Del 5%s 43. Atlantie Refining deb 6s 1931 Barnsdall Corporation 68 194 (Pa) ref 68 194! lehem Steel p m 53 193 Rethlehem Steel a f &8 19 General Motors 6s 1937. . Goodrich (B FF) 6 %3 1947 International Tel and Tel 4 Kayser Julius 5% N Y Tel 68 1941.. Nortkern States Power b Pacific Gas & Klec bs 1942, Pacific Tel & Tel 65 1953, Pan-American 6s 34, Phiiadelphia Company 58 196 Postal Teleg & Cable 5s (1933) Public Service 4%s 1948. Sinclair Oil 6s 1930, Sinclair Ofl 7 1987, . Sinclair Crude Oil 5%s 1938 Standard O N J68....... Transcontinental Ofl 61%s ‘38 United.Drug 5s 1953. U S Rubber ist & ref 58 Utah Power & Lizht Western Union Tel 6 s 1936 Wilson & Co 1at 68 1941. Youngstown Steel 58 1978. ILROAD. Atehison T & S Fe gen Atlantio Coast Line ist 4s 1953 Balto & O 1st k0ld 48 1948.... Balto & Dnlocy ee (933, 99 Chi & Kastern L1l gen 58 Chi Great Western 48 195! Chi MStP & Padj Chi R | & Paeific Chicago Rock I Chi Union Station 4% Chi Union Station 6 s Chi & Western ind con Clev Cin Chl & St Lot CCC&StLrefsal Cleveland Terminal §% Colorado & Southern ¢3%s 1935, Cuba R R 69 1953 Cuba Northern 5%s 1942 Den & R0 Grande son Den & RG Weat Erlecv 4s A 1953 rie gen (len 4a 1 Erie ref 58 1967. Fla BCbs T4.... Great Northern geo §%s 1953, Great Northern gen 1s 1936 Hudson & Manhattan adi 6s 1967, Hudson & llnn-tun‘nt s 1957 . Kansas City Southern s Kansas City Southern 68 Lake Shore 49 1931 Louls & Nash unifi Mil Klec Ry & Lt Lat MSLP&SSMous vl Mo Kan & Tex Ist ¢s 1990 r % A 64 89 1054 1L 48 »6'a LTm 104% 105% 98 3% 94bn 1% a5t 3% (UL 100 904 3% 9T B Northern Paeitio Northern Pacific Nottners Pacitio Ore Short Line Pennxyivania 8s 1y3s. . iteading 448 1997 . Rio (‘rande Western olt 48 1949 RUATK & L 430 193 . SILIM&SR&G 481933 S0 1. & San Kran or in 4 A 1950.. St Louls San Fr 413878 .. . St % 380 BrAD 0 3% 1980, SEPKUS Line s48 194} Seaboard Alr Line cet 1959 Seaboard Alr Line ad| 3s 1949, Seubuara Alr Line 30n s 1945, Southern Pucifio ov 48 1929 ...... Southers Paulfio 0ol 4s 194y Southern Paaifio ref Southern Ky gen ¢s 1966 .. South Ry I8t 58 1994 ... . $0uthern Ry dev 4159 1956 Third Ave 1158 1980 rinton Pacitic ist ¢s 1947 virginian Ry ist os 1963 Wahuah I8t hs 1939 Wahasn A% s 1978, seen Westery Maryiand 48 196; Wastern Pacific by 194 West Shore ot 19 2361 . A s i 105% 1054 104 103% 104% L14% 106% 97 98 1014 2% 101 19% Nl 103 9914 100% 214 8% 105 100 994 8 b 1024 95 104 1103 1030 105's 894 4 105% L 101 21% 81y 105 100 99Y 8ty 102% 9814 104 110% 102 1034 93 108% 95% 1044, 101% 104 9944 105 86 4 106% 99% 804 99 ¥6% 156 179 93 9% 100 131 1045 100% 99% ) 99 865 i U 8 Shares i HOLDING AND FINANCE COMPANIES. 2 0 Amer Founders Trust..... [ Contin Fin Corp units. . .. K Credit Alliance A.... .. ! Fi i 127 in & Indus : INSURANCE COMPANIES. Aetna C & 8 Am- Equitable Am Ins Newark Gt American .. Guardian ex rights Hanover SRR Home _ ... Home Sec Nat_Liberty N Y Cas. Northern Northwestern ... Prov-Wash .. 3 Rep_(Pitts)_ex rights StPP&M : Springfield Stuyvesant U 8§ Ca U 8 Fir NEW THEATE;I PLANNED. The Fox Theater interests !nnnaunce the proposed construction of a new theater on the present site of the Hotel Touraine, in *Boston. It is cla'med 1 will be the largest theater in the world. Swiss Fight Tuberculosis. Switzerland has just passed federal laws for prevention of tuberculosis. It includes compulsory reports of conta- glous diseases from physicians, medical supervision of all children and teachers in schools, establishment of health cen- ters, vacation camps for children pre- disposed to tuberculosis and other Money to Loan Secured by first deed of trust on real estate. —all classes of income-producing property Large Loans a Specialty Current Interest rate and commission. Higbie & Richardson, Inc. 816 15th St. N.W. In Nearby Virginia ial Bl40% 1o, Loans Commonwealth Investment Co. 917 15th St. N.W. Pl and ll Construction Loanlj Il Applications Invited at | 5%% Glover & Flather 1508 H St. N.W. Main 1753 {up the week by selling at a new low | | on its prasent decline. The stock opened |on the local exchange yesterday at 10013, for a 10-share lot. Thirty shares | then” sold at 100 flat, 10 more at 9915 | and another 10 at 99. The close was the lowest price reached in many weeks, Jor since its long swing upward, which | caused so much comment, unconfirmed | reports of pool buying and bellef in | some quarters that’ out-of-town inter- ests were making an effort to gain con- | trol of the company. | Yesterday trading was heavy for Sat- | urday. Bonds claimed thelr share of | attention. Capital Traction 5s sold in $1,000 denominations at 103!, and 1102%. Potomac Electric consolidated |5 moved at 101%. Railway & Elec- | tric 4s led the market in volume of trading, selling at 92'% and closing at sales_involving an $11,000 turnove: SEIBERLIN LEHMAN'S TIRE SHOP 12th & K N.W. Main 484 Main 1470 Let us have your applications || “LoaNs oN REAL , ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks - for itself. Percy H. Russell Co. 1731 K St. N.W. Money Available for FIRST DEED OF TRUST LOANS On Completed Properties and for Construction Use Reasonable Interest and Commission Rates JAMES F. SHEA 643 Louisiana Ave. N.W. 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. I WILL SELL o U 2 s 500 Miller inln Control @ & Rosslyn Steel & Cem 10 International 25 Stanley Cran: 50 F. H. Smith 7%% 30 F H. Smith 3% aed. B 15 Northern Virginia ' Investment pld. @ 100. 100 Washington Base Ball 1 Federal Capitol Hotel & 10 Securities Corporation of @ 95, 50 Greal Nat. I o, ‘new @ 20%. 4'Units Reoseve otel 12 Our Home Life Ins. Bid. THOMAS L. HUME 1412 G St. Main 1346 % S, mia, . C. pid. CLARK,CHILDS & COMPANY 120 Broadway New York, N. Y. WASHINGTON OFFICE 1508 H STREET NORTHWEST MEMBERS Telephone Metropolitan gg?: 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 OF TRADE CHICAGO STOCK EXCHANGE JAMES SLOAN, Jr., Manager A Third ofa Century Without a Loss B. Main 2100 THERE IS° NO SUBSTITUTE FOR 'SAFETY FIRST MO-TGAGES TROUBLE-FREE INVESTMENT From the day of purchase to the moment of maturity, your money invested in our 69 FIRST MORTGAGES bank stock appeared on the board, Riggs MMational Bank warrants moving at 300 | and 30215 The Shannon In the unlisted department Ireland will be completed in 1929. |new currency, hydroelectric project In | detailed information regarding changes in the currency. our choice of Steca rns'Knigh’i' is a tribute to perfect taste... STIFARNS 'KNIGIHIY The finest transportation of toda, STERRETT & FLEMING, Inc. Home of Gold Seal Used Cars Champlain St. at Kalorama Rd. Columbia 5050 shows the location in 100 subsidiaries supplying necessi North America of the Display Rooms ties of modern rmpem'u of the Cities 5 Service organization, which includes over ife to millions of people in 33 states and foreign countries. You can get 100 investments in one - When you put your spare dollars to work in Cities Service Common stock you invest in more than 100 companies. These going concerns, which make up the $800,000,000 Cities Service organi- zation, supply necessities of modern life to mil- —is safe. They not only yield liberal interest, but carry with them peace of mind as well. In Amcunts From $250 Up F. SAUL CO. 925 15th St. N.W. lions of people HENRY L. DOHERTY & COMPANY Southern Bldg.; Wash., D. C. Please send, without obligation, full information about Cities Serv- ice Common stock. Name. Thus you get the added protection of remark-- able diversity—both geographical and industrial —in one investment. Cities Service Common stock has paid more 1711 14th St: N.W. than $8,000,000 in dividends so far this year. At its present price, this 18-year-old security gives. you a net yield of about 7% %. HENRY L. DOHERTY & COMPANY Southern Building @ Washington, D. C.. Branches in Principal Cities 7 CLIP AND MAIL THE COUPON cAddress on which is -orin‘ad tae