Evening Star Newspaper, December 11, 1928, Page 15

FIN ANCIAL.Y THE EVENING STAR, WASHINGTON, D. C, TUESDAY, DECEMBER 11, 19%8.° HEALGRADE BONDS | (== BONDS o s “| pathy with strength in this class of CURB SHARES RISE INVIGOROUS RALLY Niles-Bement-Pond . Proves Feature, With Early Gain of 25 Points. BY WILLIAM F. HEFFERNAN, Spectal Dispatch to The Star. NEW YORK, December 11.—Stocks opened higher on the Curb Exchange {today and continued upward in many instances. However, there were inter- vals when the rally appeared fo have been carried far enough. Expectations that money rates would go considerably higher next week checked buying on .. l?.n of the speculative element. Niles-Bement-Pond was one of the | noteworthy performers. The break of last week had carried the price off 31 points. When ‘the demand got under way today it rallled from the previous final of 1207 to 1547 before reac~ tion again set in. No doubt much of the buying represented the covering in of short contracts put out by those who held to the opinion that recent gossip concerning the activities of one of the “company's subsidiaries in the air- lane industry did not warant the ex- nsive leee appreciation that had t:,:cekn place in the market for the stock. The ofl stocks showed ability to re- cover more of the ground lost recently. How much of the demand actually rep- resents new buying and how much was due to short covering was a matter of speculation. Prairle Pipe Line gained 4 points, Standard of Indiana was 2 points higher, Humble recorded more than 2 points and Illinoils Pipe Line at 279 changed hands 9 points above yes- terday's fisal. The new Goldman Sachs trading went into new high ground. Around 111 it compared with subscription price of 104. Radlo issues were somewhat higher, but ins were not pronounced. American amid B was prominent among specialties, gaining some 3 points. Mar- coni issues were inclined toward highe: levels, and although trading was active, the improvement was not significan Mining issues moved forward in sym stocks on the big board, with Newmont the leader. Baltimore Markets ' Special Dispatch to The Star, BALTIMORE, Md, December 11. Potatoes, white, 100 pounds, 80al.l! sweet portatoes, barrel, 1.80a2.50; bushel, 50a1.50. Yams, barrel, 1.50a3.00. Beans, bushel, 2.50a4.00. Beets, 100, 4.0085.00. Broccoli, bushel, 60a75. Brussel sprouts, Sl:fl, 10a18. Cabbage, ton, 30.00243.00. rrots, 100, 4.00a5.00. Celery, Crate, 1.50a3.00. Cucumbers, bushel, 2.50a 450. Eggplants, crate, 5.00a7.00. Let- tuce, hamper, 1.50a2.75. Onions, 100 .2584,50. Peas, bushel, 3.00a Peppers, crate, 5.00a9.00. Sq matoes, Grapefruit, Oranges, box, 2.50a4.50. strap, 1.50a3.00, Hay and Grain Prices. ‘Wheat—No. 2 red Winter, garlicky, spot, 1.32Y,; December delivery, 1.32%. Corn—No. 2 export, December deliv- Tangerines, 35 ery, 96; No. 2 yellow, 99a1.00; cob cofn, 4.7584.80. Oats—No. - 2 white, domestic, spot, 57a58; No. 3 white, domestic, spot- 56a56%. Rye—Nearby, 1.10a1.20. artiviag Here i imited dustities only: uan! % it is more lgr the demand, mostly by mg: which is being nupfiled from nearby points, few ‘carloads be! received. W YORK Received by Private Wire Direst to The Star Ofice UNI D 'ATE! Sales. High. Low. Close. | il — Sinclair Of1 3 99% 99% 99% ! Low. Sinclair Ofl 16 101% 101 101% Lib3%s.... 8 9919 998 9919 |Sinclair Oil 21 108% 103 108% Lib1st 4%s 12 100 18 10010 10012 Sinclair Cru .15 974 9T 9T% i 135 19830 '0810 9820 |SkelirOil signerscs 1 33 o84 o84 i 2 elly 8. Easier Money Rates Fail to 24 9931 9928 9931 |So Por Rico Sug. 106% 108% 106% X 135 10330 103 20 10829 {Southwest Bell 58 108% 108% 108% Halt Recessions—Few 5 10526 10626 10626 |Stand Ol N J 58 46. 30 102% 102% 1023% 13 11126 11118 11124 |SugarEstOriente?s. 1 97 97 97 TennElecPow 6547 8 108% 106% 106% Issues Rally. FOREIGN. Transcontl Oil 6%s 29 102 101% 101% Bales. e Lo C'o0% | United Drug 5883.. 16 96% 95% 95% 8 100% 1004 100% | US Rub 1stre6a..” 12 881 88 88 BY CHARLES F. SPEARE. Acgentine ¢s Octs9 8100 99% 9t U S Bub Ths: 25 Tom noy oL Special Dispatch to The Star. Argentine 538’62, 1 95%: 95% 964 |3 Sicel 8 PR 6 1001 100% ‘100% NEW YORK, December 11.— The|Argentine6sA.... 17 100% 100 100 |Utah Pow & Ltss b liliss slightly easier Tates for money did not | Arzentine 6s B 10 100 99% 9os |VertientesSug sy 6 98 9Tv 93 prevent further declines in high-grade | Australia 4}4856.. 40 87% 87 87 | West Klec5s...... 12 102% 1023 1025 fivestment issues, which have now |Australia$s1955...10 95% 95 95 |Westn Unionbsbl. 2 102% 10214 10214 dropped an average of over a point 81967., 18 96 96 96 | Westn Union 22 110 110' 110 since the first of the month, the largest ..e0s 51 102% 102% 102% | Westinghouse 9 108 IS & LUON e o ahort period since last | Bankof Chile6%s. 6 98 98 98 |Willys-Ov64s3ill 1102 102% 102% Summer. Belgium Gs. ... 33 1004 100 100 |Yngstn SRT o wi. 40 100% 100% 100% Speculative issues, however, were | Belgium 63s. 4 105% 105% 105% U ted by the rally 1 stocks | Belgium 78 1965... 5 107% 1077 10774 i bl s and showed substantial gains during the | Belgium 7s 1056... 120 10774:106% 105% | Atehison gen 48 H b4 session, Belgium 7)s...... 4 114% 114% 114% [ AtanHC G L 1stas. 3 Th the secondary reaction in the bet- | Belgium 85 + T 11001005 1104 | RHADEIS T LSl i8es ter quality bonds there has been an SR a0aK a0k aoIk G HANHISC L leeh - S approach by a few to the low prices | Brazil 63%s1926..., 17 94 93u 93y {H & Pan 20ASAS. 3 P S duty and. August. Baltimore | Brazil 6%s1527...0 19 o4 83k 94 nIadugt.; 3 & Ohio first 45 were today within half | Brazilis....... 8 100 100 - 100 20 98% 98% 8% point of their previous low, and Atchi- | Brazl8s. ... « 14 106% 105% 108% 17 101% 100% 101% son 4s only a point above their earlier 101 101 101 T quotation. - Canadian Pacific 4s were 5 100% 100% 100% 15 102% 102% 102% fractionally under the figure to which 4 108% 103 108% | 3§ O 7f imp 6 1109 109 100 they declined few months ago after 13 98 © 92% 92%|Banga Aroos4s51. 1 821 2% 82% selling at 92 in the low money period 11 93 92% 92%|praways7thAvbs. 1 78 73 18 of last Winter. 8 108 102% 102% | Brookiyn Elec 6%8. ' 1 94% 94% 9% This weakness reflects some addi- s. 8 35% 35% 35%|piookiin Elev6igs 4 93 91% 91k tional selling by banks and also by sJan'6l. 5 89% 88% 89% |pyiyn Mannat6s... 34 97% 964 9% investors who have been taking ad- |GOn PowJapan7s.. 17 98% 98 984 K S vantage of the break in stocks to-se- |CoPenhagen4i4sc3 9 88% 88 88% |Can Nat43s30 199 99 99 cure what they regard as bargains in Copenhagen 6sct.. 11 94% 94 94 |CanNatsl . 5 97 96 97 e e tianee: Cuba 5%S.y.0une.e 4 102%.102% 102% | Canad North 7s.... 18 111% 110% 110% ""A new phase of the situation is the | Danish Munic8sA. 5 1104 1104 110% | Canad Pacdeb ¢s.. 22 86% 8512 85l seiling for European account, This has | D30ish Munic8s B. 2 110% 110w 110% | Gen Past¥e b0 | 8T OT5 01 4 S ark 68, ...0.0 4% 104% 104% vl L ::3 ;1;1“(:5 !:e;:yh:: ;}Tsw%f lt);llemfie:“ DE15%s Mch 53.. 5 10215 1023 1023 | Centralof Gaés... 7 100 100 100 the way down from German govern- | puich [Zast18s47. 15 108% 1031 108% e L L ‘ment 75 to United Steel Works 8bs. | pr'ech Bast1 2 190 108 irogi [DRTCEACISIORON. . 16 LORN S0P 100 A number of the .German municipals | 51 Salvador 8 2 1104 1104 1104 2 100 99% 994 ‘have been under pressure and the Prus- | Finland 5%s. « 5 90w 90 904 2 98Y 15 987 . Finland 7s. 4 100! e slan 6s are at the lowest price since 1004 100~ 100% 2 69 59 they were issued. Dealers in foreign | nionch 78 150 1073 106% 107% 107 68 67 67% bonds report considerable selling for | rench 7% < 14118 1125 118 |CB&Q4%sT7B.. 20 98 9T 974 Scandinavian account, which has been | GermanEIP6%s., 5 98% 934 93% [CB&QILI3%s.... 2 87% &in 8% uu-llév well interested in German se- | German 7s. Re lgg% lggfi lgg;/: Chi&E 1l gn6s51.. 13 84% 83% 84% curities. 2 '8, The Bollvian 8 per cent bonds, which + 3102 101% 101% §170 05 “opn o5 ‘broke vesterday Irom 105 to 973, ral-| g% » 15 100% 100 100 5808.595 77% 16 17 led sharply, but theré was not an Ho land-Amer 6s.:. 4 101% 101% 101%4 .M. equivalent recovery in the old and new | Tunsary 7is. 21 101 100% 100% | Chi & NW 6%s. 2110 110 110 7s. The incident has cast a shadow [IrishFreeStatess. 3 96 96 96 |[Chi&NW7s...... 10 103 103 103 over the South American list tem- |81y 7s........... 42 971 96w 97y (ChiRI&Pgnds.. 1 s9% 89% 80% porarily and the news that Bolivia had | {t8llanPubS7s.... 5 95 95 95 |ChiIR1&Prf4s 5 94% 94% withdrawn from the Pan-American Con- | Japanese ¢s o 9 92 91 92 (CRIPac4lswi 93% 93i 98% clliation Conference did not help mat- | Japanese 63 26 101 100% 100% |C & W 158%s 62. 1023 103 ters, leading to a second relapse in the | Lyon és. 4100% 100 100 |SCC&StLrf6sA. 27 100% 100 100 Bolivian group, g Magrseille 65 1 100 100% 100% | S1ev.Term bs... .0 59 104% 104% 104% The largest advances in the con-|Milan 6%s. 12 90 . 8% 90 |oooietes vertible bonds were those of Andes Cop- | Montevideo 7. ... 21 101% 101" 1035 | Cuba B R 53 ‘per 7Ts, amounting to 6% points; in Ana- | Netherlands 6s 54.. 6 1001 100% 1004 | 0% B R 7%s ‘conda s, 7 points; in Public Service of | New So Wales 57s.. 6 93 gois og " | Cubs Nor Bz cts. New Jersey 4%z, 4 points; in Bams- | New So W L 7 93 92 93 |Den&RioGends.. 18 91% 91% 91% dall 65, 2% points, and in Colon Of 65, | Nord 64 - 8 102% 102 102y Den&RioG 43%s36. 25 8 88y 89 1 points. e convertibles | Norway 58 +20 97 97 97 |D&RioGimp 8.. 33 041 93% 9% smong the speculatve raly and rose Norway ds 1944 112 103 10 10305| Erle1stcons4s. ..+ 1 %% 8% saw mear] pol Erle refunding 5s lost orway 63s 1952.. 4 10: Y 3 over a point. general this section |Orient Dev deb R, Erlecvt 58 67 wi. 96% e e 6s.. 2 96% 96% 96% 96% p- 5 tnctlmu‘ :'lnfll ‘wy e, Lo- Paris-Ly-Med 8 20 99% 99% 9914 y 6s. 1 111% 111% 111% contint Paris-Ly. 2 108% 103% 103% | Ery Ry - 1 i sl e 36 90 90 90 |Brle (Pa)oittras.. 8 100% 100% 100% DIVIDENDS. § 101 108w 1025 Gu::mkc»su... 17 80% 80 80% % 107% 107% | Gr Trunk stdb 6s.. 11 106 105% 105% Remwr, e 5 8313 83% 83% |GtNor44%4876D... 5 97 97 o7 mate. Ty, BN Hidrsof 82 88% 88 88y |GrtNorthn 43%s E. 350 96% 96% sl o 11 98% 984 98% |GreatNorth 5%s.. 5 109% 109% 150 @ Jam - 18 2 105% 105% 105% | Great Nor 88 113 11244 112% 1o & b 3 8 103% 105% 105% | Hav El Ry 1 63% 68 68 X an. . 1104 104 104 |Hud& Manaj bs. 19 84% 84 84% 1 /s, | Snedertang Yx 2110 109% 110 |Hud&Manrefbs.. 25 96% 96 96% neWst 6s'63 9 93% 92% 93% |Il Cent 4s52 2 92 ! Dec.28 Dec 17| RiodeJaneiro 6%s 27 95 94% 945 | L1l Cent 45 53 1 g;w 35; gg% Dec. 31 Dec. 0 | Rio de Jan 88 1946.. 5 1 1 H @ 06% 106 10 | L1l Cent 4%s 1L 9% 99% 99% -§1 Bec: 20 | Rio Gr Do Sul8s... 12 105% 105% 105% | [11-C-C-StL&N 1103 103 103 c. 130 ROme 8348, ...0..0. 25 00% 904 90% [Int Rapid Tranbs.. 26 73 738 78 b - {3 {Seo Paulo 88 1936.. 2 105% 106% 105% | Int Rap Tr b 3 78 T TN 3 Dee' 11 | Sao Paulo 1950, 7 105% 105% 105% | 1nt Rap Tran: 156 100 994 994 4 B3 |Saxon BW) 7 23 99% 991 9914 Int & G Nor 1 8 1074 105% 107% Beas D 13 106% 105% 1063 | Int&GtNor adj 17 914 "90% 91 Jai Dec. 20 g'rbscl‘fl 18 82% 81k 81%[IntRysCA5s 10 82% .81% 824 - 2 Dec.22 s;x;:aclnnslol 6 95% 95 954 {INtRYCAm@s4dl.. 13 94% 94% 94% : 8:%, - .fl’. su 6158 16 90% 90% 90%;INtRyCA6 6 95 94U % weden & 26 103% 103% 103% | I0wa Centrf © 25 104 10k 104 - }‘ 2: }gzu igi;/t 101% | Iowa Cent 1st 5s... 7 3. 37 4 - 103% | Kan City Ft S 4s... 16 94 937 7 g 1; 110 109% 109% | Kansas City S 3s 1 5% 'm: ‘;2.‘: s :3% 98% 98% | Kansas City S 5s 6 98% 98% 98l 84 88 884 |KanCity Term4s.. 11 90 89% 80% 2 118% 118% 118% | Lake Shore 4s 31 . 23 104% 103% 103% | Lehigh Val cn 4s 88% 881 2 i3 99 |L&N4%s2003.. 10 99k 9w 9w 17| Yokobaus pee Man Ry 1st 4590... 16 66% 67 67 i el I R R ¥ MISCELLANEOUS. i L ] % g mi stbs, 7 1 5 W6 & B2 ol B R|AmsugarRerea.r. 7104 1oww sos |ME&THSB... 10 86 86 86 DIy Ist Df .- 1.62% Q@ Jan.1 Dec.20{AmT&Toltr 26 1044 104 104% | ME&Tprinss A 3 so0” ton iod e AmT&TSL6S. ... 24 105% 105% 1064 | Mo Pacifie gen 4s.. 7 76 6 3u L P s - AL 8107 106% 106% | Mo Pac 58 A 65 81004 99% 99 Plvs xuct new. g 1 9T% 975% 9T |MoFacssF77.... 15 99% 99 991 BT e L R R T . 95 9; 2‘;;% 132% 2321‘% MontTrmref 58 41. 5 08% 98% 98l 28 91% 91 9is|NassauElesbl.... 2 56 55 56 4 102% 1021 1025 | N O Tex & M 6 20 100 99% 995 #x 2 100% 100 100 [NOTex& M5sB.. 14 100 9915 9934 Initial. Barnsdall 651940.. 57 135 133 1331 | 1 10414 1044 104% Allied Products A..87%c @ Jan. 1 Dec.17|Bell Tel Pa 68 C.... 24 107% 107 107 | Y Cengen3is.. 6 81% 81k 814 e e w106 1 Bec- 13| Bethlehm Stipm 5 3 1013% 100% 101% | ¥ Cent 45 98 20 90% 90% 90% -.100 . Beth Steel £ 5s.... 4 1021 10214 10214 | I Centdeb 4 5 96% 96% 961 TR Jan. 14 Dec, 14| BOth Steel 5% 53,0 3 100% 100% 1008 |N X SFEim 4% 14 100 99% 9344 iaw & Knox new...8% o Jun 14 Dec: 14 | Bethiehem Steel 63, 16 105 10414 105 | N X Centr 1 58 8 1084 106% 108% i 7 SA Oct. 1 Sep.26|Bkiyn Edison bs... 14 104% 104% 104% | N Centdeb6s.... 2 1084 106% 106% *imken 'Roll “Bear.100% .. Jan:10 Dec.37|Bklyn Union 6%s.. 24 355 345" gy | NYCRI&StL 5%sA. 10 107 106% 107 s Bush Term Bldg 5. 1 104% 10i% 106% ‘,:52;’,:‘,;?“* P 1omsaeiy X ¥ ertain-Td5%srcts 8 86 4 1 90% 91 SHORT-TERM SEGUEIT{EEH Chile Copper 68... 32 96y o5 sey | NI NH&Hcvdb6s. 4 117 1164 116u R T e ] 6 109% 109 109% 1 ' 104 e ... 993 1001, | GOl Gas&El d 15 99% 9915 99y, 2 5% Allis-Chalmers Co. 5s 1937, 155, 8834 109'* | Con Conl Ma 15t b5, 2 76~ 78" 39 N¥SateRyiks.. I 40 40 40 American Tel & Tel Co. 45 1920 9914 981 | ConGas N ¥ 5%s.. 18 106% 106 106% | N s o) 562 18 60 57 60 T A Y et gt smsl e £ vita. 278 76 76 |Norpac A o e Lo Batevian Fet, Corp. $1is {043~ 82, (08 | Cban Am Sugds.. 2,014 76 76 |Northern Pacific4s, 7 91 - 90w Sou Gulitornia Pet. Corp. 37as 1938. 1034 1043 E88.. 15 1044 104 104% | Nor Pac 414 2047.. 2 100 99 £ Canadian Nat. . s 1630 "9 9% 32’2,".,‘323.,‘,'.5:5 glom 101 101 |Northern Pacri6s. 47 113 m:: 1?34\ cago a .. 88 ¢ Y 106% "Ry, 4 1920.. 99% 99 ...0..0 146 1025 102 Golorsdo e By G itig g S0l | DOOES D%, viguaq 146 0% 102, 102% [Ore Wash 1st4s... 2 884 88 8su Cudahy_Paci Co. 55 1931 90'* $0s. |EastCubaBug7is 2 94 94 94 |LoPDSYlcond 2 101% 101% 101% ot 85 1937 " | Fisk Rubber8s.... 1 111% 111% 111% | pennay i 588 & A %“E" e 102 22103 - 10m ao PennaRR 4%s'63. 19 99 99 99 S s N 10 13 107 108y 107 102 23 925 924 925 2 110w 130 1o 5 8101 100% 100% 20 103 1021 102% o . :3:1‘% 101% 10115 | Pere Mar 1st 4s | 1 92% 92 92 83, % 108% 103 s . B 1675 107% 107 88, |lilinoisSteel4%s.. 3 93 98 gg" Portland EIPL6s. 1 102 102 102"fi 1021; | [ndiana Steel 5s. ... 15 104% 1043 104% {Port RLP6s47... 1102 102 102 0312 | Inland Stl 435 78, 931 93% 9315 | Port RL&P T%846. 1 10714 107% 107% 100 Intl Cement 65 48.. 53 103% 102% 103% |Reading gen 4%sA 1 98% 93% 98% E 9 103" 11°97% ° 97% 97% [ Rio G West cl 4s. 7 81% 84% 84l Western Eleciric Co. 55 1944... 1024 103 |Int Mer Marine 6s.. 3 1014 101% 1013 | R 1 Ark & L 4%s. 7 98 95% 96 Westinghouse ElL & M. 5 1946 103'2 104% |Int Paper 58 47.... .8 94% .94 - 94 Wheeling Steel Corp 5325 1048. 100~ 101" | Inter Paper 6s. .... 13 96% 96 96% St L IM&S 4s 29 5 99 93% 99 et Int TeleTeleg 4%s. 11 95 D4k 95 |of b o G 8. & D4 94% 94y TREASURY CERTIFICATES. |KayserJ&Cob%s. 16 130% 129 130%|StL &S Frpm. 78. 84 90 gg‘a §§ (Revorted by J. & W. Seligman & Co. |X@PG&E6s52.... 1 106% 1054 105% | St L & S F 5%s 20 100% 100 “10073 Pro Maturity. Bid, Offer. | Laclede 5s........ '3 101%' 101% 101% | St L & S F inc 68. 2 101% 101% 101% 3% Dec. 15, 192 0930-32 ... Ligget&Myersissl. 6 102% 102 1024 |StLSWcon4s32. 5 96% 96 96 . R 9930:32 190 5.0 | Lorillard (P) 7s... 1 1124 1121 1124 St P& KCShL 4%s. 6 93% 93% 93% 30 Mar 10 B 9927.32 9929.32 | Louisv G & E5s52. 3 103% 103% 108% |Seab A L ref 4s.... 34 62% 6213 6215 6138 June 15, o012, 100832, | ManatSug st T%s. 5 98 97 97 |SeabALadi5s1949.10 38 38 38 g8 ooy e + 100 10-32 100 12-32 | Mid-Con 6% 4 7105 105 105 [SeabA Lcon6s.... 18 76 75 75 312 Sept. 15 3 873031 | Midvale Steel 5100 100 100 |SBAUFIa6s38A. 7 72% 724 72% 3% Dec. 15 3 Mont Pow 68 4 11 103 102% 103 - |Sou Pac 4s29. 22 99% 99% 99 e :;(oy;:gc? 1:’:’;1 2 87% 87% 87% |Sou Pacific ref 3 91% 91% 91% NewEnglandTel 55. 2 106% 104 6 97% 96% FOREIGN EXCHANGE. |NYEIECISTNCY § 103 1o 1o0u © & i g0 (Quotations furnished by W. B. Fsbbs & Co.) | N Y Edison 636s... 3 115% 114% 114% 5 110% 110 110 Nominal gold Selling checks value (01 oar) 54.8665 ‘1928% g, s Athens, drach: adrid, peseta Vienna, schil dapest, pengo. crown (nom.! War: 1oty n, C crown Stockholm, crown. 12667 (2674 POTATO MARKET DULL. CHICAGO, December 11 (United States Department of Agriculture).— Potatoes, receipts, 41 cars; on track, NYGELH&P 4 S 1 94% 94% 94y NY Tel4¥%s.. 4 99% 99% 99% N Y Tel 6s 41. 6 107% 107 107% N Y Tel 6s49... 3111 111 111 North Am Edisbs.. 17 100% 100% 100% No Am Ed 5%s'63. 23 101% 101% 101% Nor Ohio Tr & L. 2 104 102% 104 Nor States Pow 8 100% 100% 100% Nor States Pow 6s. 3 105% 105% 105% Pacific Gas & El1 5s. 4 102% 102% 102% PacT & T 1st s 5 102% 102% 102% PacT& T 5sb2. 4 103% 103% 103% Pan-Amer Pete 6s.. 1 104% 104% 104% Pan-Amer Pete 7s., 1 104% 104% 104% Paramount 651947, 11 100 99% 99% Pathe Exchange?s. 1 78 73 78 Phila Co 55 67 wi.. 47 99% 99 99 Philips Petro 53%s.. 12 93% 93% 93% Pierce-Arrow 8s... 7 1064 106% 106% 223 cars; total United States shipments, | Por Ric Am Tob 6s. 27 101 100% 101 403 cars; trading slow; market dull;|Postal Tel & C5%s. 38 94% 94% 94% Wisconsin, sacked, round whites, 85a | Pressd SteelCards 1 97 97 97 1.05; few shade higher; Minnesota and| Public Service 4%s 140 16215 160 160 North Dakote, sacked, round whites, ! Punta Alegre7s.... 1 93% 93% 931 acked, Red River, Ohios, 1.10; | RemingtonAr 6532, 4 100 100 100 0, sacked, russets, 1.45al.65. Rem Rnd 6%swar, 56 94 934 934 13 114% 113% 14 1225 12214 4 108% 103% 113% 122% 108% Third Aveadi6s... 5 60% 60% 60% Union Pac 1st 4 13 9% 94 94 Union Pacific 4568, 42 88 87% 83 Union Pac 1st rf 4 90% Union Pac 435 67 97 105 100% 91 100 Wi 100 West Maryland 81 Western Md 5% 99% Western Pacific5s. 3 97 97 97 West Shore 45 2361, 1 87% 874 8% WisCengn4s4d... 4 82% 825 825 . NEW YORK, December. 11 (Special). —New York bank clearings, $2,337,000,- 000; New York bank balances, $168,000,- 000; New York Federal Reserve . bal- ances, $125,000,000. 5 is not enough business passing fo establish prices on the va- rious kinds and grades and all arrivals sell strictly on merit at a range of 16.00a18.50 per ton of timothy and clover hay. Straw—No. 1 wheat, 11.00a12.00 per ton; No. 1 oat, 12.00a13.00 per ton. Dairy Market. Live poultry—Turkeys, pound, 40a42; old, 35a38; Spring chickens, 20a30; Leg- horns, 20a26; old hens, 22a28; Leg- horns, 21a22; small and poor, 18a20; old roosters, 17a18; ducks, 22a25; small, 18a20; geese, 20a25; guinea fowl, each, 40a85; pigeons, pair, 30. Dressed —Turkeys, pound, 38 242; old, 35a36; young chickens, 30a 32; old and mixed, 25a30; old roosters, 18a20; ducks, 25a28; geese, 22a28. ' Eggs—Native and nearby selected whites, free cases, dozen, 50; firsts, 44a 45; current receipts, 42a43. { Butter—Good to fancy creamery, pound, 48a54; prints, 54a56; blocks, 52 a54; ladles, 38a40; store packed, 34a35; process butter, 43ad4. New Bond Issues Special Dispatch to The Star. NEW YORK, December 11.—An issue of $5,000,000 Power, Gas & Water Se- curities Corporation collateral trust 5 per cent gold bonds, series due Novem- ber 1, 1948, with common stock ‘pur- chase privilege, priced at 99, is being marketed today by G. L. Ohrstrom & Co.,, Janney ‘& Co., Graham, Parsons & Co., Coffin & Burr and Parsley Bros. Co. Offering is being made of a new issue of $2,256,000 County of Camden, N. J., 41 per cent gold bonds maturing se- rially 1930 to 1978 and priced to yield from 4.25 to 4.40 per cent by Lehman Bros., Kountze Bros, E. H. Rollins & Sons and R. L. Allen & Co.' The Bankameric tion, A. B. Leach & Co., R. L. Allen & Co. and Bachelder, Wack & Co. offer a new issue of $1,627,000 Bergen County, N, J., gold 41, per cent bonds, due serially December 1, 1929 to 1947, at prices to yield from 4% to 4% per cent. A new issue of $1,500,000 Union Pow- er Corporation 6 per cent secured con- vertible gold bonds, due December 1, 1943, is being marketed by H. M. Bylles- by & Co, Bartlett & Gordon, Inc, and Hoagland, Allum & Co. The bonds are priced at 96%, to yield over 6.35 per cent. Stephens & Co. offer a new issue of $1,250,000 city of Atlantic City, N. J., tax revenue 5.35 per cent bonds, due September 12, 1929, to yield 5 per cent. Stock Increase Approved. NEW YORK, December 11 (#).—In- ternational Harvester Co. stockhoiders have approved increasing common stock to 6,000,000 no-par shares from 1,300,000 $100 par shares, preliminary to a 4-for-1 stock split-up. New stock will be plac ed on $2.50 annual dividend basis. The old stock was on a $6 annual basis, with semi-annual 2 per cent stoek divi- dend payments. Exchange Seat Price Drops. NEW YORK, December 11 (#).—A New York Stock Exchange membership was sold today for $580,000, a of $5,000 from the previous sale and high record. ' . Seek Control of Movies. A firm of London brewers is secklng’ rmission to have cinema shows in ?:ur of the public houses under its con- trol. { The thermometer was invented by Gabriel Daniel Fahrenheit, a Dutch sci- entist, in 1708, A uash, crate, 3.50a4.50. Savoy cabbage, bushel, | 40a90. Parsnips, basket, 50a80. Spinach, b:zhoel, 35265, X 8.0, Following is a list of stocks and bonds traded in on the New York Curb Market today: es . 4 Amer Superp ‘A 1 Amer Super 1 rts 2 Amsterdam Trad 5 Consol 1Cons Ret Stis 2 Coon (N B) 48 Curtis Flying 1 Davega Inc 1 Deere & Cg ' 28De For R C ... 23 Douglas Aireraft 8 Dubilier C & R 14 Dupont DeN new 2 Duplan Sik .. NEW YORK CURB MARKET Received by Private Wir¢ Direct to The Star Ofice 10 Houston Gulf Gas. 18 Intercont Pet. Leonard Oil. § Venezuelan Pet. 7 FUNE O . A 4% Sales STANDARD OIL I1SSUES AND FOR- munits MER ‘SUBSIDIARIES—STOCKS, 58 55, 6 4 7 B 31 :2 ans a %00 S Kentueiy 163 183 183 008" 0" Kentucky new. . B 4 4 8 O Onhi 168 Vachumn” O B 1 Caro & L 8s 8 Chi Rys cfs dep 53 af h ‘s So " 183 5% 8% 1 Flicnes 8af div 6% 1081 105% 108% Firestone Tir 9715 198 197 ket Afrc. 11, 11 1TV ;;-'-Sf.%al‘.‘t‘.’én"%m A CIgn 11 1k 18 Fox Theaters A 3i% 3% 1 Freed Eisem R o i) 2 Line 47 # 1 10% 1%z | 16 Gen Vend A% 8 3 Rub 26 253, 253a sl 151 5 J 280" 2 b $ 6 Kendal 43 & 1 col %9 9 S L R Ro e Mhs . S0% 981 99 : 3 Lehizh Pow 6 1047 10434 1047 s 1 Lo Angeles G & E 55 1003 100% 100% s 8.8 3 Morris & O ... 100t 100k 100 5 A4 i s 28| 7 507 s Vs Va @ .4 ) 3 26" 25% 26 E v 9 : 2> Long Isl . 20 Marconi ‘Intl M 17 200 207 200 210 B Mare Wike 0% e 3 2 Marion v » (] A A gty Sor ta) 13, 97 beti el Voape 21" 121 T ll‘ g\'i:l ;g’i 193 R 3 Yex 25 H 1Tru 10068 1004 B 30N 10434 108, 18 10134 101% 7 un 801 80 1 v u” g 28,25 &g% % B 103 103 72| 3V & 98t 81 29, 108 10612 138 & Wheal e 1 Noms - Elec.. ] 2 North Am Utility. I‘E Sale: 23 North Easte 4% 43% 43% | In tho it " 143" 143 o 42% 42 42 Saie 267, 25% 325 soid 730 27 3 3613 341 36 0255 523 b3t 53 . 7 Philip Morris. i 44 lorce Governor. 3315 33%4 33 ) % Pittsh & Lake E.... 192 143 182 1% 81 1 2ow Gorp Cana 81 &1 M P & Rulfbow - Lummnous. . 511 LI 2 Ray Bestos.. 73" g gt ¥ Real Asen B 65 461 5% 3 Reynold Metal pid 5 13 8 16 Rice Stix Dr: k] 1Rich Rad, 1 12 Ing v 19y, 4 Roch Cent PW 3 38 3 Ital a0 13 Royal Bak ! 3 ki ' Roval Bak 1 oiit ey B | 3 i i sl 147 114 114 10 Mor Bk % 9T She 208 B0 & Muni o e B o1 uh Il i 8 an L 99% 993 99%L : i D mG e I : niz ‘& 131;;: D89 89 8 8 5% 86 o SvaSWith warrants. 3% 3 U. §. GRAIN EXPORTS. 109" Grain exgorts last week from the % o8 United States amounted to 17,009,000 o 32° '32% | bushels, as compared with 2,491,000 24% 2¢ bushels the week befare. 3 Thomes L A n Commerce Department figures today i Tiken motier Bre n Hs T T | Commeres DEPATES b A i 0 ast week's exports and those of the week before: Wheat, :,157.ooom 1s, against 1,201,000; rye, 609,000, 2,000; oats, 230,000, 111,000; 30° | corn, 1,699,000, against 973,000; barley, 804,000, against 114,000. ¢t ‘§ Canadian grains exported last week through United States ports amount 2015 29% 29% | to 2,841,000 bushels, against 2,989,000 ol ¥ 2% 102 bushels the previous week, and North POR Sufk 383 183 183 | American exports last week of wheat 1Uni Pft Sha 10% 10% 10% | flour were 256,000 barrels, against 177,- 1078 B 0 4 432 000 barvels the week before. 4U 8 For & Sec 8% EH fl:% o 3 Onfyeteal “AV it lts 1% Heads Insurance Company. Tl Brarr . ifi §3‘4 61| CINCINNATI, December 11 (P.— Van € Pdi'pia cit: 1 114 AT 414 | Jesse R. Clark, Ir., today was elected 3 Waizreen war, §h% 87§50 president of the Union Central Life 20 Warner Bros P 50~ 48% 4912 | Insurance Co. He succeeded John D. e 1% 104 19% fSage, who died unexpectedly a week R vk o O T 8g0," Clark s @ son of former pres- '11 Tiar ¥ 21 28 pany. 1 Wireswheet 8 33 r 3 Commodity Notes 1 Zens 3 Zonite . Sales MINING STOCKS." Corn. in hundreds. 3 %3 1ion Ban Gopner ] 1 Kirki Loke Gold. 1Min Co Can 58 Ba B 5E L BRES i 3 s, fopeom.) Sales | INDEPENDENT OIL STOCKS: in hundreds. WS FSRRE FORT WORTH, December 11.—Texas farmers not only are handling out their corn for feeding , but are buy- ing feed cho) eprs and grinders for future use. is the first time corn has been held in the history of the industry in this State. Steel. - PITTSBURGH. — The - automobile trade is. expected to increase its rate of huying steel immediately after Jan- uary 1, and preliminary specifications already ‘are beginning to make their Dairy Products. CHICAGO—The arrival of New Zea~- land butter is causing some revival of the talk of a new tariff schedule on this commodity in this section. Coal. HAZELTON, Pa.—The production of anthracite in this section has been hampered somewhat recently by reli- holidays observed by miners. nts over the Lehigh Valley Rail- road totaled only about half the amount 4 % sent out.in 1926, 3, [in the “market last June. % | 1924—February FINANCIAL.' BY KENNETH S. VAN STRUM. NEW YORK, December 11.—Last Fri- 2 | day, the morning after the first bad break in stock prices, one of the largest commission houses sent out word that “generally low stock prices for Decem- ber have been established in yesterday's collapse.” Their unqualified advice was to buy stocks. Advice of .other brokers varied from this optimistic stand to “so many trading accounts have been im- paired that lower prices seem inev- itable.” Opinion is still widely diverted in Wall Street as to how long the re- r‘m ' | action will last and how severe it will prove to be. A study of past reactions will give some indication of a possible turning point. As in’ every fleld of activity, it Is true of the market that it takes a long period to build up and a short period to tear down. Almost five months have elapsed since the last severe shakeout From that time stock prices have mounted con- stantly. For a while the technical posi- tion of a violent stock market was im- proved by temporary periods of back- ing and filling, but toward the end of the rise prices shot upward without any apparent check or limit. The Bargain Hunters. The limit was reached, however, and we now find ourselves in the midst of a severe technical shakeout, a familiar phenomena to the older stock traders. At present, many are waiting expect- 98 antly for “bargain” day, but as prices decline the ranks of the bargain hunt- ers will grow thinner. By that time a real disaster will be feared and few will buy when stocks are actually at bar- gain levels. How soon will the bottom be reached? ‘That seems to be a question no one can answer, for it depends upon economic and human factors which cannot be regulated or estimated. In the past, however, a decline of this sort has al- ways taken a certain minimum length 12 | of time, and it is doubtful whether the present correction can be accomplished % | In less time. Past Reactions. Below are listed all of the reactions tH ;i:ce 1922, with the length of time it k stocks to reach bottom prices: Period. ‘Time Consumed. 1928—Jun€ ............ . 3 weeks January-February ..... 6 weeks 1927—October . « 3 weeks June « 4 weeks Jenuary . «evss B weeks 1926—September-October . 6 weeks -~ February . . . 6 weeks 1925—November « 3 weeks February . . 4 weeks 12 weeks 1923—September . 6 weeks March . 2 weeks 1922—October-] . 6 weeks These figures show the range to be from 3 to 12 weeks. While the major part of a reaction is often accom- plished within three weeks, the trader would rarely benefit by purchasing stocks before the three-week period is up, for stocks have never begun a sharp advance until the market has settled somewhat. Often it takes longer than the three weeks for the process of readjustment to be completed. Double Botttoms. Another striking characteristic of these reactions is that the market usually makes what is known as a “double bottom.” That is, the market as a whole will drop to a low point, rally & bit, then decline again to the same low before it begins to show per- manent improvement. The market is most likely to touch double bottoms when the reaction is sharp. course of a reaction, also, pl'l":‘ellrm‘lully'“he ally substantiall ust T sul y a num- ber of times. These minor movements may not be evident in the daily aver- ages, for the market can often stage a tremendous rally and then in the same day stocks may drop so low that the average closing price is far below that of the preceding day. Such a rally, followed by a considerably greater de- cline, occurred last PFriday. Although these rallies are certain’to appear, there is no way of telling when they will come g::um long t.hzyfl will' last, and prices crop off as sharply after the g present reaction can be judged by past expe: it will not be over until the middle of next week at the earliest. There is a possibility that it may run even longer. The descent of stock prices the more prob- able that a double bottom will occur which will afford two opportunities to ted | DUy stocks at low prices for the reaction. (Copyright, 1928.) o Machine Tool Trade. NEW YORK, December 11 (#).—Ma- chine tool trade in most centers is being maintained at a high level for the sea- son, American Machinist reports. Ac- tivity in metal working plants continues to show gains and this is regarded as highly significant so far as future business in the concerned. The textile industry is the | leading buyer in the South. Slab Zinc Stock: Increase. NEW YORK, December 11 (#).— Stocks of slab zinc on hand in the United States increased in November t0 46,542 tons at the end of the month from 46,068 tons of November 1. Pro-| duction totaled 50,260 tons and ship- ments 49,786 tons. Mason Elected Director. NEW YORK, December 11 () — George W. Mason, formerly president of Coj d Products, Inc., Det electric refrigerator manufacturer, bo;m;nellecud a dm chairman and mani lvinator ra- of Def-l'o.f:t 2 Fo PARIS BOURSE PRICES. PARIS, December 11 (#).—Prices were firm on the Bourse today. Three T cent rentes, 65 francs 20 centimes. ve per cent loan, 92 francs 80 cen- times. Exc e on London, 124 francs 15% centimes. The dollar was quoted at 25 francs 58% centimes. " R Sugar Firm Profit Decrease. NEW YORK, December 11 (#).— Manati Sugar Corporation of New York and Cuba reports a decrease in net profit in the year ended October 31 to $318,150 from $575,870 in the preceding year, machinery industry is! COTTON IS HIGHER ON OPENING SALES Increased Demand Follows Set- | back Due to Early South- ern- Selling. { By the Associated Press. NEW YORK, December 11.—Pfices opened on the cotton market at I advance of 17 to 23 points in respbf to relatively steady Liverpool cables. There was enough Southern selling and further liquidation to send prices off a few points right after the opening, but the setback seemed to bring in an in- creased demand which was supposed to include some domestic and. continental trade buying, as well as covering or buying by recent sellers. January sold up to 20.00 and May to 19.95 before the end of the first half hour, or about 20 to 25 points net higher, with the market fairly active at the advance. * Private cables said there had been continental and Bombay buying in Liverpool and that the market there was considered well liquidated. WHEAT PRICES GAIN ON INITIAL SALES Buying Movement Sends Market Upward—Corn and Oats Are Firm. By the Associated Press. CHICAGO, December 11.—With fair buying in which houses with connec- tions Northwest -were conspicuous, and with offerings light, wheat prices aver- aged higher early today. Corn and oats displayed firmness also, influenced by less favorable weather for the move- ment of corn, Opening at % off to % up, afterward scored general gains. Corn started at 4 decline to an equal ad- vance, and subsequently showed a ma- terial upturn all around. Provisions were steady. Some improvement of export for wheat from North helped to induce buying of wheat future deliver~ ies Here today at times. In this con- nection, world prices for wheat were talked as as relatively low, and Eastern sources, as well as the Northwest, were credited with purchasing. On other hand, good progress of the what harvest in Argentina and Australla was re- ported. Forecasts of rain in the corn belt, likely to hamper- free shipping from rural points, gave the corn market a decided hoist. Country offerings to ar- rive were light, Besides, arrivals of corn in Chicago today were smaller, 347 cars, and there were 226 cars of corn report- ed as being loaded out of Chicago ele- vators today to fill previous sales. BUYS STOCK INTEREST. NEW YORIZ, December 11 (#).— Liquid ms:;bnnlc ccrp:nmn ln‘:: cxhi- cago, announced purcl of a substantial ‘stock interest in the Ice Corporation of America, Wl operates '1:1 lant at Elizabeth, N. J. [on: poration for expansion, agreement Liquid Catbonic may increase holdings in other company. Liquid Carbonic directors approved a 10-year contract to supply Carbonic Gas to Dry Ice Cprporation. ‘The lat- ter concern plans to build plants ad- Joining Carbonic factories as rapidly as its business develops. DR $2,000,000 in Gold Imported. NEW YORK, December 11 (#).— American Irving: Trust Co. today anno importation of $2- 000,000 in gold from Canada, bringing the total current inflow to $7,000,000. Canada withdrew - $22,000,000 in from the United States l’ecm& _Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 Consult Us First If {‘ou need money for your Real Estate finan let us have your application today. Prompt Service No Appraisal Fee The Commercial National Company Incorporated Paid up Cash Capital. $900.000 Edmonds Building 917 15th St. Loeated in the center of the Fi- nancial and Realty Districts. Sev- eral desirable suites now available. Very low rentals HANNON: & LUCH 1435 K St. Main 2345 Continental Trust Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts ' Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Checques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Contineatal Tiust o 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 -