Evening Star Newspaper, December 10, 1928, Page 15

FINANCIAL,' CONVERTIBLE BOND ISSUES ARE ACTIVE Market Shows Little Im- provement Over Conditions of Saturday. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, December 10.—Except in a limited number of convertible bonde, which responded to periods of strength in today's stock market, there was little improvement in investment securities, Among the convertibles, Andes Cop- per 7s led with a rise of nearly 12 points. They were off nearly 40 points last week. Anaconda Copper 7s early recovered 6 of the 25 points lost re- cently. Liquid Carbonic 6s, which sold at 205 in November and closed Satur- day at 17314, were also up 6 points. Public Service of New Jersey rose 3%; points. Barnsdall 6s rallled 2 points and Transcontinental Oil 6s a point. J. Kay= ser §ios lost 5 points. Several of the sugar convertibles were off a point, with some rally later. There was some relation also in a number of industrial bonds to the un- settled speculative list, as for instance in International Paper first 6s, which duplieated their previous low, in U. S. Rubber 5s, Bethlehem Steel 5%s and in several of the junior rails. ‘The feature of the foreign markets was the activity in Bolivian 7 and 8 per cent bonds due to the threat of war between Bolivia end Paraguay. These issues declined from 2 to 215! points with a subsequent rally which erased nearly all of the decline in the 8 per cent issue. It was significant that other South American bonds, such as those of Uruguay, Brazil, Peru and Chile, held strong. City of Copenhagen 58, which were 101 early in the year, have dropped to the price of Antwerp bonds. The high rates for money the past week have seriously disturbed the market for all strictly mortgage issues. Some of the leading rails are within a point of their low price of last Summer, after having had a good recovery between the end of August and the middle of November. The latest credit strain has also af- fected numbers of the new public util- | ity and foreign bonds, which appeared to have reached their low prices a month or so ago. A dozen or more of such issues have in the past week de- clined to approximately their low prices, with the market in them “thin,” Tbisx makes an unpromising outlook for con- sideration of additional loans of the same character. Tortunately, there are Nn&-rnfively few syndicates in bonds of this type that have not been closed, The Government bond list was ir- bscriptions regular. Sul per cent Treasury notes are not being made with the enthusiasm that atterd- ed the demand for the Oectober 43 per cent issue, though there is every prospect they will be fully covered. — Washington Stock Exchange SALES, ‘Washington Gas 65 “A"—$800 . Chestnut l-"namls . Apld.—-w‘ltt}gg%. 5 at 1067, 20 at 106%. W:.Ihmgwn Gas Light—8 at 99, 5 at 2! o 5 at 9915, 10 at 993, !r 90 (cash) Merchants’ Transfer & S td.—t at 108. Kooy pia, -5 Mergenthaler Linot; 1 105%, 5 10504, e AFTER CALL. Potomac Electric 833 % pfd.—3 at 108%, 20 at 10814 ilioende % hlu“uly/n Monotype—5 at 118%, 10 at 4 Mergenthaler Linotype—10 at 105Y, at 105%, 10 at 105%, 20 at 105/‘ » National Bank warrants—36-265 at 290, 40-265 at 290, 160+368 at 290 (cash), 2 at 295. Chestnut Farms Dairy pfd.—15 at 1061, 8 at 106%;. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Amad e Ana, & -Fnt. elga. 4% . 4t t. i“ 'n.“l-" “Alex e St .+ Alex, E Sh: Ges o sen o 2 XY X MISCELLANEOUS. Q National Bank warrants—1335-265 Rio de Jan §s 1946. . Rio Gr Do Sul 8 Rome 8}s.... San Paulo City Sao Paulo 8s 1936, , Received by Private Wire ’J‘N TED STATES High Sal Close 230 9921 Lib3%s. 9918 9920 9834 9817 9817 | . 423 9931 9929 9929 34 10331 103 24 10325 8 108 20 106 18 106 18 18 11120 11118 11119 FOREIGN. Sales. High. Low. 14 100% 99% 18 1004 99% 1 3 96% 96 17 100% 100 . 14 100% 100 | % 7 8T 8T Australia 58 19556.. 50 96 95 95 Australia 68 1087.. 9 954 95k 9BW 4 102% 102% 102% 12 98% 98 98k 40 100% 100 100 13 105% 108% 108k 28 108 107% 107% 21 106 105% 106 11 115 115 115 8§ 109% 100% 100% 205 105 7% 8Th% 10 100% 100 100% x93 934 ¢ 94 100 105% 100 100 102 100 Close. 9¢ 00 96 100% 100 8% Belgium 7s 1 Belgium 7s 1956 Belgium 7% Belgium 8 Bolivia 8. Bordeaux > Brazil 61.8 102 Brazil 6%s 1927, Braszil Braml e Bremen State 78 Cauada 5s 1931 Canada 5s 1952 3 93 24 100% 100 7 108% 105 8102 100 7 100% 100 23 103% 102 56 100% 100 14 98% 93 93 4 93% 93 934 2 1029 102% 102% THE EVENING STAR, WASHINGTON, [orsew vo_BONDS o excuav] Direct 8o The Star Ofice Sales. Hizh. Low. Close. Por Ric Am Tob 6s. 38 100% 100% 100% Postal Tel & C5%s. 23 944 94l Pressd Steel Car 55 3 95': 96 Public Service 4338 18615 1584 RemingtonAr 6s 33. 100 100 Rem Rnd 6%8 93% 94 Sinclair Ofl 68 994 Singlair Oil § 101% Sinclair Ol s 103 Sinclair Crude %8 Sin Pipe Line 6s... 97% Southwest Bell Stand OII N J 68 Tenn Copper 6841, TennElecPow 68 ¢7 Transcontl Oil 6% 8 United Drug 8s 53.. U S Rub 1stref és.. US Rub T¥%s. US Steels f 5s. Utah Pow & Lt b Vertientea Sug 7 West Elec 5s. ..., Westn Union 6% Westinghouse 5s. ., Wilson & Co 1st §s. Yngstn SRT 58 wi, 29 RAILROAD. Atchison gen 4s,... 19 ::.E'm SumGase - Zovuwmwaaia i 102% 110 108% 102% 100% 9214 Ok LY 1004 108% 109 B&OPLEWY ds.. 933 B & O Toledo 4s. Chinese Gov Ry Colombla 68 Ja! Con Pow Japan 7s. . Copenhagen ¢33 53 Copenhagen Baot. . Cuba 5%s. Czecho 8s 1951 Danish Munic 8s B. Denmark gs. DE15%s Mch 53.. Duteh East 1 6s 62, Finland 5 22 11 98% 98% 98% 12 88% 88l 88 2. 944 MU 9en 2 102% 102 102 9110 109 110 1 110% 110% 110% 10 104} 1044 1034 14 102% 102% 102'% 5 103% 103% 103'% 1 90% 90% 90% 3 951 98 9B 10 100% 100 100 5 103% 103% 103% 17 107% 107% 107% 11 118% 112% 112% 2 931 931 93y 83 106 106 2 98 9TH 9Th 21 108 102% 102% 6 98% 984 9BW 24 100% 99% 100% 14 101% 101 101% 2 96 96 96 43 9TH 96% 9TH 3¢ 96 95 95 33 91% 91% 91y 28 101% 100% 101 4 100% 100 100 3 100 99% 100 12204 204 20% A% 21% 84 34 89% 90 2 101% 101% 1015 35 100% 100% 1005 71 1064 105 1054 a4 93 92y 93 102 27 12 100% 100 100% 16 103 103 103 14 102% 102% 102% 3 102% 102 102 9 97T 96Kk 97 7 99% 99K 99y 63 104 1 102% 102% 102% 4 107% 107% 107% 48 88K 87TH 88 24 98% 98 98 105% 105% 105% 1044 103% 108% 6 110% 110 110 6 102% 102 102 7 90 89% 89% 27 93 93 934 4 101% 101% 101% 10 95 941 941 4 108% 105% 106% 5 106% 1054 1084 - 10 90% %0 0% 3 118% 116 115 9 1054 106 16 106% 106% 17100 9% 24 105% 108% 15 83 82 Framerican 7145 French 7s. French 714 German EI P 63%s. German 7s. ... Hungary 7%s. 1rish Free State bs. ltaly 7s s... Japanese 6%s. Lyon 6s. .. Marseille 6s......, Mexico 45 04 asntd. Mexico 4s '10 asnt. . Mexico 5s asntd. .. . Milan 6%s. . Montevideo 7s. . Netherlands 6s 54. , Netherlands 2, New So Wales §8 ord 6 Paris-Ly. Paris-Ly-Med 7 Peru 6567 wi. Poland 8s... Porto Alegre Rhin RhineWst EP 6s'68 RhineWst EIP 75'50 Rio de Janeiro 6%s Sao Paulo 195 83 3 90K 90% 90% Sweden 6s. 3 102% 10: Y Swiss5%s Hid 1 103% 103% 103% 12 110 110 110 e 9 » 2 7% 1% T 33 88% 88 88 14 118% 1184 118% 1; 13; 108% 103% Tokio 53 s 196! Utd Kingm 5348 39. Utd Kingm 5348 37. Utd SteamCopen 6s Uruguay 8 Yokohama MISCELLANEOUS, AmAgriChem 7 AnSmit& R 1s Am Sugar Ref AmT&Toeltr 99% 104 % 107% 98 84 50 105% 1054 108% 38 1602 158 160 22 194 185 194 2 924 924 3¢ 91% 91 9 1 1 1100 100 100 Armour&Co 4% Armour Del 5%s. Atlantic Refin s Barnsdall 6s 1940, . Bell Tel Pa5s B. Bell Tel Pa 55C. 107 * | Col Gas&El deb 5s. + | Cuba Cane 8. Risws National Bank T e e National Bank of Washington. TRUST COMPANY, urity & Trust ca. 4 D b an & Trust.. : i State: ‘sshington Mechanicy’ remen’s "63"" National Union! Bethishm 81l p () 7100 1005 J00u + 7 102% 1021 1024 Beth Steel 5348 6 101% 101 101 Bothiehem Steel 65, 65 104% 104% 104% 17 104% 104% 1044 . 5340 340 340 Certain-Td634arcts ‘3¢ 8 85 8§ Chile Copper bs. ... 96% 95 95 Colon Oil 8s'38.... 22 110 107% 107% 10 99% 99% 99% % 77 9 1 20 106% 106 106 7% 76 . 76 B 8% TTH T4 6104 104 104 4103 1023 102% .10 108 108 108 +181 1025% 102 102 6100 99% 100 THs 4 95% 94 93n 6 111% 111% 111% | Gen Cable 5%8'4T, 29 991, 99 99y Gen Mot Ac Cor 68, 27 103 102% 102% Goodrich 633, 28 107% 106% 106% Goodyear 5srets... 35 92% 924 924 Humble Ol 55..... 6 100% 100 100% Humble O & R 5%s. 15 101% 101% 101% Illinois Bell 1st5s.. 1 103% 108% 108% Inland 8t14%s°78. 6 93% 934 93% Intl Cement 55 48.. 6 103% 102 10214 Intl Match 88 47... 23 973 97 97y Int Mer Marine ¢a,. 101% 101% 94 94% 2B 9% 964 96k 2B 9% 9% 94 26129 187 127 1 103% 103% 103% 6 105% 105% 105% 7102 101% 101% Con Coal Md 1st 5s. ConGas N Y 6%s.. Cuba Canecv Ts... Cuban Am Sug 5. . DatroltEdison5s40. Detroit Edison Laclede G 535 5. TITLE INSURANCE. Columbia Title of Md. col Cons. Title fa.. 5 MISCELLANEOUS. rber & Ross. Inc.. com... evy estnut Farms Dairy com.. estnut Farms Dairy pfd. Golumbla, Sand & Gravel o mmercial Nati. Co. ptd. D 4. ?Jl.\e & Inv. Co. of ash Chase Dairy pfd 2 C. Paper M nston, Mono! erch. Tran: The first financing for & ecompany :rochllzing in amphibian trans] - on will be made shortly in sale of 170,000 no par capital shares of the »Coastal Airways, Inc., which before re- arganization was the Atlantic Alrways, Tne. eds. be used to establ a seaplane base in Rye, N. Y, and purchase of 17 planes. 5 104% 104% 104% Liggett & Myers s § 12 Lorillard 5s. . 6 Lorillard (P) Ts T 1y 2 103% 108% 103% 1 974 97w 97w 10 100% 99% % 4 102% 10215 102% 6 100 100 100 2¢ 8 8 8™ 8% 10 1044 104% l(M‘n‘; 26 107% 107 1074 11 111 110% 110% 13 101 100% 100% 3. 10 101% 1014 1014 5 104 108% 104 6 100% 100% 100% 1 105% 105% 108% 6 102% 102% 102% 15 102% 102% 108 4 104% 104% 104% 1044 104% 104% 100 94y 98% 9944 984 105% Nor States Pow Pacific Gas & EI b Pac T & T 1st 5 Pan-Amer Pete 6s. Pan-Amer Pete 7s. , Paramount 68 1947, Phila Co 6867 w1 Philips Petro 5% s.. Pierce Oil deb 8s... Cuba R R 5s.. Gr Trunk stdb Grand Trunk 7 Gt Nor 4%s 76 Great Nor gen 7s Hud & Man aj §s Hud & Man ret 5: Il Cent 4%s 66... Int Rap Trans 7s... 13 100 Int&GtNor adj 6553 15 90% 904 IntRysCA5872,. Int Ry C Am 68 41.. Int Ry C A 6%srct. Iowa Cent 1st §s Kan City Ft S Kanssa City S 3s m&u-- City S bs. 105 108:4'| Lake 991 | Liohigh Val cnds. .. 105% | LehiVgen 4138 2003 Lehigh Va) 55 2003, 50 107% 1 2 96% 96 961 |Long Is deb b8 34.. 96% 8 98% 98% 98% | Louis & Nash §i;s. 8'10414 1034 103% | Louls & Nash 7 Mich Cen deb 45 33 Bklyn Mannat Can Nat 4%8 30, Can Nat 4%s 57. Can Nor 4% 1035 Canad North 7s, Canad Pac deb ¢ Can Pac 4 s ¢ Central of Ga 6 ¥s. Central of Gi . Chesa Corp 5s w i.. Ches & O gn 43¢s. Chi B&Q gen 4 . Chi B & Q 13t rf 5s. Thi Gt West 4859.. CM&StPgn8s... ¢ CM&StP ret 434s89, 12 ChiM{ISP&Pachs?5. 92 CMS8P&Pacadjfs03. 205 Chi NW 4155 2037., 26 Chi & NW Ts. Chi Rys 58 Chi Un Sta 4% Clev Term 5s. CCC & St L 5: CCC«& StLrf C& S 1st 4529 58, « 198 Cuba Nor 548 ets.. 10 944 Del & Hud 5%, Den & Rio Gen Erle conv ext 7s. Fla Bast C5s 7¢. 7 106% 105% 14 112% 112 22 96% 96K 83 112% 1124 .« 28 8 84 6 96% 96 « 10 100 9944 I1-C-C-StL&NO 5s. 4 103 103 105% 112% 963 1124 84 Int Rapid Tran 5s.. 40 734 77% IntRap Trisstpd. 26 78 73 9% 3 81k 81k 5 95 95 1 95 95 3 31 8 2 93% 93% . 2 73% 3% « 16 99% 99 City Term 4s., 10 90 39% Shore4s31... 12 97T% 97% 7 88% 88% 2 984 98% 07% 3 98% 3 94% 94% 5 105% 103% 6102 101% 36 67 66 3 964 964 1 99% 99% Louis&Nash uni 4s. Man Ry 1st 43 90 Market St 78 40, Mil Bl Ry & L 5s 61 M St P&SSM cn 48, M StP & SSM 6%s. MEK&T 1st MK &Tadj MK&TprinjsA 4 NOTex&M 4% 56. NOTex & Mbs B.. NOT&M 6% N Y Cen gen 3 N Y Cent 4a 98 NYCrfimdls, 3 95% 95% 3 99y 99y 3 1044 104% 6 814 Sl 1 90% 5 1004 99% 88% | ern stock; Florida, 1}2-bushel hampers; !4 | 150-pound sacks Russet Rurals, U. NYCentrfss..... 6 1064 106% N Y Cent deb 6 2 106% 106% NYC&StLdebds.. 10 98 954 NYChI&StL 6%sA. 10 106% 1064 NYChi&StL 5%s B. 5 .100% 1064 NYC&StL6sA.. 5102 101% New Haven 3%s 54. 1 73 73% 4 12 U 10 6% 78% 4 90% 90% NY NH&H cv db 1 116% 1164 NY Rys 6s 6 N ¥ State Ry NYStateRy 8%s 6! NYW&B%W Nor& S gen 6854.. 2 100% 100% Norfolk& Wen4s. 1 914 91w Nor Pac 38 2047.... 22 67% 67% Northern Pacific 4s. 19 91 907% Northern Pac 55 D. 1 105 105 Northern Pacri6s. 14 113% 112% Ore Short Lrfs4s. 70 98 98% Ore Short L 5s gtd. 1 106% 106% Pennsyl con 4%s... 5 101% 1014 Pennsyl gen 4%as.. 9 995 991 Penna RR4%5s'63. 32 99 99 Pennsyl gen b: 5 106% 106% Pennsyl s 64. 6 1031 1034 Pennsy) §3s. 6 Pennsyl gold 7s. Pere Marq 1st PCC&StL 58 B 7 Partland £l P L 6s. Port RL&P 745 46. Reading gen 4345 A Reading JC4s51.. 1 96% RIArk& L4¥s... 6 96 StL IM&S 4s29... 48 9944 StL IM&S gn 5s31. 7 100 St L IM&S R&G 4s. 78 95% StL&SFpl4sA.. 22 884 StL&SFr4%s78. 30 89% StL&SF5%sD.. 16 100% 100 StL&SFadj6s... 11024 102% StLSWcon4s32. 30 96 96 St P & KCShL 4%s. 93% St P Un Dep 6s. ... Seab A L ref 4 SeabAL ad) Seab A L con@s.... S B Al Fla6s35 A, 4 98% Sou Pac clt 4s. . Sou Pacific ref 4 Sou Pag 438 re Sou Ry gen s, Sou Ry 1 122% 12 0, 24 1044 103 Texas & Pacific 1st, 2 1096 109% Tex & Pac 6sB 1977 14 103 102% Third Ave lstis... 6 96% 96% Third Ave adj 8a,.. 19 62% 60% Tol Tr L&P 6%s 30, 6 100% 100% Unlon Pac 1st 4s. 12 94 93% Union Pacific 45 68. 23 87% 87y Union Pac 4148 87,. 13 974 97 UnionPaclat ref 5a. 4 108% 108% Virginia Ry 1st 58, 23 104% 104% VaRy&Po8a...... 2 100% 100% Whash 48 78 rats, & o1 9L Wabash 5a 76 B 1100 100 1 Wabash 5%s 75 1 100% 100% Weat Maryland 4 5 804 804 Western Md 5% 904 Weatern Pacific 5 Wgest Shore 4s 2361, Wis Cen gn 45 4.0 3 2% 82 light, market steady; Florida, pepper 113K { ight market about steady; Florida, mostly. 3.50 W MORE ACTIVE MEAT MARKET REPORTED Dealers Say Demand Has Risen in D. C.—Egg Prices Easier. A better and more active condition of the meat market was reported by wholesalers this morning. Meat is mostly of splendid quality, it ia stated, very little common stock being on hand to offer the retail trade. ‘Top quality beef this morning was quoted at 25 cents, medium grade at 31% and 23 cents and common atock at 17 and 18 cents. Veal was quoted at 25 and 27 cents and lamb at 28 cents. Price of pork loins advanced to 23 and 24 cents, dealers reported, with a | & prospective advance to 28 cents tomor- Tow, and 23 cents and shoulders at 12 and 19 cents. Smoked hams sold at 26 and 27 cents, smoked shoulders selling at 18 cents. Rains Delay Shipments. An easing of the egg market was reported this morning, with every in- dication of lower prices before the Christmas holjday season. The storage market continues firm. It is yet too early for turkey ar- rivals for the Christmas holiday trade. Heavy rains held up deliveries in cer- taln sections of Texas the latter part of last week, fairly liberal movements being reported in other sections. Prices there are reported holding about steady. Frults and vegetables continue more than plentiful enough to meet demands, dealers reporting every indication that receipts for the Christmas holiday sea- son will not be scarce. Prices are not :xptccted to change to any material ex- ent. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 53a54; tub, 53a53; store packed, 30a35. Eggs—Fresh selected, 47a48; hennery, g:us current receipts, 45a46; storage, a. Poultry, alive—Turkeys, 38a40; Spring chickens, 28a30; Leghorns, 25; fowls, 26a37; roosters, 19a30; keats, young, 60a80; old, 30. Dressed—Turkeys, 40a 48; Spring chickens, 32a35; Leghornc, 28a30; fowl, 30a33; capons, large, 40a 45; small, 30a35; ducks, 30a32; keats, young, 80a1.00. bt Meats, fresh killed—Beef, top, 25; me- dium, 31},a23; common, 17al8; veal, 25a327; lamb, 28; pork loins, 23a24; fresh hams, 22a23; fresh shoulders, 18al9; bacon, 22; lard, in tins, 1212; in pack- ages, 14al5. Live stock—Calves, 16a17; lambs, 3al4. Game—Rabbits, No. 1 grade, 25; No, 2 grade, 15a20. Fruit and Vegetable Review. The daily market report on fruits and vegetables, oorn‘pilsd by the Market News Service Bureau of Agricultural Economics, says: Apples—Supplies moderate; demand light, market steady; boxes, Wi - ton, medium to large size Delaware ex- tra fancy, 3¥%-inch Staymans and Romes extra fancy, 2.50; bushel bas- kets, Virginia and Pennsylvania, U. No. 1, 215 inches up, Grimes, 1.40a1.5 Staymans, 1.50a1.60; mostly 1.50; U. S. le:\_c:usghymnsa l,KOBldfll A Ipplies moderate; deman: light, market steady: New York, sack- b hundred weight, Danish type, mol&r 2.78; bulk, per tom, 55.00. Celery—California, crates, 6.00a6.50; few fancy stripped, 6.50a7.00; New" York, 3-8 crates, 2.7523.00. Lettuce—Supplies moderate; demand moderate, market slightly weaker; West- ern stock; Calif , crates, Iceberg. type, 4-5 dozen, best, 3.75a4.25; fair quality and condition, 3.00a3.50; Eas- big Boston type, fair quality, 1.50a1.75; ordinary quality, 1.00al 25, Onions—Supplies moderate; demand light, market steady; Holland 110 pound sacks yellows, No, 1, medium size, fair condition, 4.75a8.00; Michi- gan and Ohio, 100-pound sacks yel- lows, U. 8. No. 1, medium to large size, 8.00. Potatoes—Supplies moderate; demand moderate, market steady; Michigan, | No. 1, 2.15; Pennaylvania, 150-pound sacks round whites, U. 8. No, 1, 1.85a 2.00; Idaho, 100-pound sacks Russet Burbanks, U. S. No. 1, 2.50; 50-pound 5a1.35. String beans—Supplies moderate; de- mand light, market about steady; Florl~ da, 7p-bushel hampers, green, 2.5023.00; few fancy 3.50; ordinary quality and condition, low as 1.50. Eggplant—Supplies very light; too few sales reported to quote. Squash—Supplies very light; demand light, market steady; Florida, pepper crates, white, unwrapped, 4.50a5.00, Peppers—Supplies very light; demand crates; choice, fair condition, 6.50a7.00. Peas—Supplies light; demand light, market steady; Florida Vg-bushel hampers, best, 3.00a3.80; fair quality and condition, 2.25a2.50, ‘Tomatoes—Supplies light; demand light, market steady; California, lug, boxes, ripes, wrapped, 3,00; Ohio, 10- pound baskets hothouse stock, 2.50a .75, Caulifiower—Supplies moderate; de- mand light, market firm: California, pony crates, 2.00a2.25; mostly 2.00. Oranges—Supplies liheral; demand moderate, market slightly weaker; Flo- rida, boxes various varieties, No. 1, me- dium to large size, 3.50a4.0C; small size, 2.50a8.00. : Grapefruit—Supplies liberal; demand xes, No. 1, medium size, 3.50a4.00; b ; No. 2, medium size, 3.00. Gasoline Prices Decline. NEW YORK, December 10 (A).— Continued weakness prevailed in the gasoline market in the week ended De- cember 8, Oil, Paint and D Re- porter states, Motor gasoline at four principal refinery points averaged 9.50 cents a gallon, against 9.56 cents the preceding week and 7.19 cents in the corresponding 1937 week. Gasoline at filling stations in 10 principal market- ing centers averaged 20.27 cents a gal- lon, compared to 17.84 cents a yeaf ago. Ford Company Sales, NEW YORK, December 10 (#)— Ford Motor Co. sold 704,609 new model cars and trucks in the first year of roduction. Output the first week of Bacember wos 6,438 units daily, an in- crease of more than 400 daily over the first week of November. Shoe Sales Show Gain. NEW YORK, December 10 (#).— Melville Shoe Corparation of New York reports sales of $19,816,012 in its chain stores in the past 11 months, compared to $15,644,244 in the first 11 months of 1927. . Crude Oil Produotion, NEW YORK, December 10 (&)~ California crude oil production lvtnged 679,000 barrels daily in the week ended December 8, an increase of 6,800 bar- week, at Sanf Fresh hams were quoted at 22 |73 galn ita Fe which averaged 76,500 barrels, i nal Hill was off 2,000 barrels, NEW YORK BANK CLEARINGS. —New_Yorl ¢l 3 ,000,- 000; New York _balances, $110,- 000,000; New York deral Reserve credit’ balances, $103,000,000, [y D. C, MONDAY, DECEMBER 10, 1928. FARM BUYING POWER. in Agrieultural Dollar Value Is S8hown. NEW HAVEN, Conn, December 10 (Bpecial) —More than regaining their status of two waoks ago, farm-purchas- ing power and pgricultural prices rose last week, the (irst five-tenths of a point, to 100.3, and the second two- tenths mlfl'ui cmlx;wldtanul&y, no‘x:l- agricultural prices aslipped off again, this time two-tenths of & point, to 97.1 Cotton, wheat, corn and live showed slight declines, but noticer gains in oats and lambs, and lesser ones in beef steers and potatoes, overbalanced them. Index numbers of farm-purchasing power and of -agricultural and non- agricultural prices for various are given in the fnlluwlng( table, in which the average for 1926 represents 100: Increase Farm Awricultul- Nonasr. (TR purchasing. power. prices. prices. § Week ended— Emwmhar 7 T 28333322 SegeeseeseBonoscsaee BRERB2BR222: S Dk A 03 D 2 D i e PStut s 192 < R T (Copyright, 1928, by Irvins Money and Prices Special Dispatch to The Star. NEW HAVEN, Conn,, December 10.— Registering a new low for 10 months, the wholesale price index, as based on Dun's quotations, dipped to 97.1, off two-tenths of a point. At the same time the dollar’s purchasing power in- creased to 3 cents above the 1026 average, Textiles brought the index of prices lower, but there were few fac- tors for a rise. Wholesale prices re- main at a slightly higher level than at_this time last year. It will be noticed that Italian prices are highest in a year and a half, at more than three-quarters of their 1926 average. English prices remain steady in face of a falling off in retail trade on account of the prices sagged off half a point. Fluctuations in the general wholesale price level and in the purchasing power of the dollar are given below for vari- ous periods. The average for the year 1626 is the base used. Whole- Purchasing sale power; cts. Rdex. Wk ended—, g:vmlm average tober average September averag August_average . July avel May aver April average March average DIUATY averas anuary averas Al a wfl ave 1925 average . 1923 average Forelgn Prices. rom Europe report forelgn whole- aal .;'S oty pm’e'-E o Tollows ! A b | + October ave! September a August ave i 1926 average . (Copyright, 1928, by FOREIGN TRADE OF U. S. _SHOWS GAIN IN OCTOBER By the Assoclated Press. October foreign trade, reported to- day by the Commerce Department on the basis of geographical world divisions, showed a notable increase in European buying from this country. There was also an expansion in North and South American trade with the United States, while this country’s imports from abro held to about the same level as a year ago. gixpons and imports by grand divi- slons for October, as col with the same month last year, follo EXPORTS. .. 1928, 08381543 120,811,830 1004358 ERAR IMPORTS, L. $121,201,008 E‘;:?fi' America s R30I uth Amei 41.809, sia 087 o8 & 1215288 534,737 e .. 1239,282 5.070,947 Exports to England for October were $97,990,504, against $89,958,516 a year ago, while imports from land were $33,406,819, against $33,119.448. To Germany October exawm were $57,961,~ 938, against $62,660,601, and 1n?nru were $22,297,885, against $20,846,221. For France the export figures were $28,927,649 in October, against 329,064,- 112, and imports were §17,220,463, against $18,290,888. Ticker’s Accuracy Shown. NEW YORK, December 10 (@) — Accuracy of the New York Stock Exe change’s tickers was demonstrated in a recent 28-day period, when one op- erator depressed the keys more than 1,260,000 times without making a single misprint. Quotations are sent to more than 5,000 machines in 239 cities in 37 States and in Canada. Burope ... North America South ~America Asia ... eania Africa I FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs'& Co.) Nominal gold Selling ehecks value (o1 var). & 4.8665 ng's {llness. French Ocl ey | l from $145,100,000 | RECORD GAIN S STOCK PRIGE INDEX SHOWS DECLINES Prices Drop in Week’s Trad- ing—Recessions on Broad Scale. 8pecial Dispatch to The Star. NEW HAVEN, Oonn,, December 10.— The prices of all industrial common atocks listed on the New York Exchange suffered last week on the average of 1-10 per cent fall to 1784 from 178.6 for the previous week. Falls in steels, eoppers and astores overbalanced in- creases in auto accessories, foods and oils. Preferreds fell while public utilities and rails rose. The steels index dropped to 144.5 from 147.2, owing to price recessions in Bethlehem Steel, Republic Steel and United States Steel. Coppers slumped to 2242 from 225.2 through Calumet and Arizona, Kennecott Copper and Magma Copper declines, while the stores group slipped to 228 from 228.9 through Woolworth, May Department and Mandel Brothers recessions. Auto Accessories rose to 156.8 from 155.2, led by Murray Corporation, Elec- tric Auto Lite and American Bosch Magneto, and the foods stock rose to 162.1 from 161.4, via rises in Standard Milling and American Sugar. The oils index pegged up to 127.5 from 127.1 through gains in Mexican Petroleum and Tidewater. The first grade induse trial common stocks index rose to 18 {from 1805, second es fell to 167. from 169.5, while ade issues ad- vanced to 177.6 from 1767, The ‘price index of the 50 leading common industrials fell two-tenths of a per cent to 654.6 from 656.2, the first recession since the week ending July 20, 1928, A compact survey ‘of Stock Exchange movements is given below by indexes and per cent of return: Stocks Rate of traded. % lgdl.g b3 ";?lnl Week ended— December 1. November November November November November poaaas EE8822 388 s S85S3: o High (26, Tow (26130130 ppi ) (Ape36) (NoY Signs of Cautlon. Last week's activity on the New York Stock Exchange showed renewed signs of caution. The average daily value of tradings of $346,000,000, as com= pared with $369,000,000 for the pre- vious week and $391,700,000 for two weeks ago, evidenced receding interest in_stock turnovers. Diminished activity in ocoppers, auto accessories and miscellaneous stocks welghed heavily against increased ac- tivity in motors, stores and foods in the averages. » Coppers daily trading fell from $54,~ 200,000 the previous week to $33,000,600, with diminished turnovers in Anaconda and Andes Copper, Auto Accessories activity registered $11,900,000 a day, as against $15,500,000, with fewer Goodyear, Kelly Springfleld and Stewart-Warner shares changing hands. . Miscellaneous stock trading drop to $129,300,000 use of falls in Victor and International Combustion turnovers. Increased activity in mo- tors to $82,600,000 a day from $72,000,~ 000 was due to ler, Packard and Hup&ovlgo:. While stores rose to $21,- 600, from $12,700,000 through Sesrs Roebuck and Montgomery Ward active ity. Poods rose to $19,700,000 a day {from $16,300,000 via anvincreased turn- tuuelm Kroger and National Dairy The diversification of activit eth or with a net decline in Vngn':‘on falling price level reveals at least wan- ing bullish sentiment, (Copyright, 1928, by Irving Fisher.) HOWN BY SAVINGS BANKS NEW YORK, December 10 (Special), ~Savings in the United States for the year ended June 30 show the greatest gain for a single year ever recorded, bringing the total sa de] banks to more than ,400,000,000, with 53,000,000 individual savings de- positors, to W. Espey Albig, A Aer i o A B n bank division, in a lhumn‘:.tuma'd‘ T ndlcates n rity more gen- eral than at any mmee the b‘:sl- ness depression of 1920,” Mr. Albig says in His report. “Only three States failed to show a gain. e increase per ine -habitant in 1928 over 1927 is ‘lr The per inhabitant over last year is .7 per. cent and 113.5 per cent over 1918, when the strong upward curve in savings deposits first developed.” i G TREASURY CERTIFICATES. (Reporied by J. & W. Seligman & Co.) t:—u.llll it R 34s A Goi:gd Moving Picture House lodern Eve Res; t 500 to 600 u{i;x C:;ncity With 1928 and 1929 La L k: s‘lfi‘:'“':‘l h -year leane with “chean Shieredin | seiine WP Inou 50.00 eash, abplicable ing 8} ave and be able 'to fonesty, sob) not_essen visory. u_must be of pleas. not over 45 yrs. of furnish A-1 refe loty, 1 do the an it Y00 Milhol® ol Omitethy dutiea It you can auallfy, would fiad to g0 lnto detalis. = An’answer wil ave my early attention. Address Box 218-M Star Office APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY Located in the Disitict of Columbia and adjacent suburbs in Montgomer; and Prince Georges Counties, ui 5%% INTEREST Apply to H. L, RUST COMPANY 'LoAN CoRRESPONDENT The PRUDENTIAL INSURANCE COMPANY OF AMERICA . 1001 15th St. N.W. Main 8100 FINANCIAL. - ®. 16 1 12 Stocks Shrink $1,317,500,000 In Market Value Within Six Days BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, December 10.—To show more vividly how complete the smash was in Wall Street last week, losses in paper profits of one dosen corporations picked at random from the big board are here given: Jus in market value $ halt dlxl shrank 817,800,000, This is equal to the I sessed valuation of the real estate of Butte, Mont.; Atlanta, Ga.; Birming- Louigville, Ky, and New Orleans, La., combined. This list of 12 stocks by n(o ‘xlnum covers any great percentage of the ac- tive lwe)a,‘bul rt' is a fairly repre- sentative list out of the 1 traded in on the New York Stock Exchange. Has the bottom heen reached? Al« ready tens of thosuands of market op- erators have been wi out. An average drop of another 5 ts would wipe out other thousands of small speculators in e of the United A The bears are fubilant, for it is their first subatantial feast in six months. (Couyright. 1028, by North American News- DPaper Alliance.) T Equitable Co-operative Building Ass'n JOHN JOY EDSON, President Organized 1879 Assets. . +.$5,513,051.63 WALTER S. PRATT, Jr, Secretary 49th YEAR COMPLETED Surplus & Profits. ......$1,601,704. Subscription for the 96th Issue of Stock Being Received INVEST YOUR XMAS SAVINGS IN THE EQUITABLE There is no better way $2. Per Share tra Christmas money than by starting an sccount in the Equitable. 915 F Whatever your object of saving, the Equitabl matic plan of sav- ings will help you aee cumulate the money quickly. Street 50 N Complete Investment and Brokerage Service Copy of our “Fortuightly Reoview" furnished on request G. M.P. MURPHY & Co. wemoz 1508 H Street s New York Stock Ezcrange Connecticut at K WASHINGTON, D. C. Telephone Main 9600 New York Richmond Private Wire and Telephone to New York Nearby Maryle Your Financing On Improved chl. tate , Virginia and the District of Columbia At the Lowest Possible Cost Interest 51/;% For Periods of 3,5 or 10 Years BO SSTTPHE Realtors LPS Founded 1907 1417 K Street Main 9300 Loan Correspondent John Hancock Mutual Life Insurance Co. Regular Invest- ment Diet If you want to build up your strength take moderate amounts of food at regular intervals. Resist - the temptations of the over-generous meal. The same advice applies if you want to build up your fortune. 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