Evening Star Newspaper, December 13, 1928, Page 13

PRICES IRREGULAR Considerable Early Selling Follows Weakness Shown at Yesterday’s Close. BY WILLIAM F. HEFFERNAN. €pecial Dispatch to The Star. NEW YORK, December 13.—Irreg- ularity characterized the movement of prices on today's Curb Market. The late weakness yesterday brought out a good deal of forced ligquidation during the first half session, but after this had been completed prices steadied. Trad- ers, however, were inclined to await further developments before commit- ting themselves heavily on either side. Numerous issues, where a weak long account was known to exist, were pressed for sales losses extending to 4 points before support was encountered. In- cluded in this category were Dubilier Condenser and Radio off a point to 814, Marconi Wireless Telegraph down al- most 2 points, Newmont Mining off some 4 points and Electric Bond & Share Securities down 3 points. As against these losses, however, new high records were marked up in Douglas Aircraft, the new J. C. Penney, which | rose 10 points to 347; Citles Service common, up almost a point, and the low-priced * standard motors, whicl gained fractionally. Airplane issues continued active and for the most part higher, still inf'uenced by the optimistic statements of Presi- dent Coolidge before the Internationa! Civil Aeronaptics Conference concerning the future of aviation. Boeing Air & Transport crossed 80 for a gain of some 3 points. Niles Bement Pond, which rose spectacularly coincident with the Tecent announcement regarding retire- ment of the outstanding preferred issue, was carried from 170 to above 175 Aviation Corporation of America felt the sffect of profit-taking, but offerings were ;Pley absorbed, with little effect on rices. There was evidently some special in- centive for the demand which carried Fashion Park common stock to a new high Wednesday and some 3 points fur- ther to a fresh peak again today. Whether merger negotiations were re- sponsible for the upturn or that it was merely due to its technical market posi- tion could not be determined. COTTON IS STEADY ON INITIAL SALES Commission House and Trade Buy- ing Tend to Advance Values. By the Associatéd Press. NEW YORK, December 13.—Cotton opened steady at an advance of 1 to 4 points on the New York market in re- sponse to relatively steady cables from Liverpool. There was some commission- house and trade buying, as well as cov- ering, but the demand was compara- tively light, and prices soon eased under & renewal of liquidation and Southern selling. January sold off from 20.22 to 20.13, but demand improved somewhat on the decline, and the market was fairly steady at the end of the first half hour. "Part of the early selling was attributed to Western and Wall Street interests, and may have been in- Received by Private Wire Following is a list of stocks and bonds {,med in on the New York Curb Market y: Sales in gundreds. 12 Acoustic 1 Allied S Al 1 Alpha Port Cem 1Am & For Pow 1Amer Arch Co . 3, Amer Cigar Prod ...... Milling_ ... 32 Amer Ravon Prod 4 Amer Roll Mill . JAmer 8 & G p pi e 3 Butler Bros ... 43 Can Marconi W .1l Celan Cor Am . 11 Celan C Am 1 pfd .. 5 Cent Pip Cor ....... 6 Cent Pub § A . 31 Check Cab Mf& . 2Club Alum Utcn 1 Direc Der Disc Ges 35 Douglas Alrcraft wi 9 Dubilier C & R. uke. Eow D Dup De Nemours n h Cor.... 147 ns Auto 14 Fageol Mot Co. 3 Fairchild Aviatn’ A 2 Fandango. Corp A. 4 Fashion Park 3 Fansteel Prod . 3 Fed Metals ctfs 10 Federal ‘Water t deb rts H Mfg G k H H M C b Brench Line.. ceshman Chas. n en _Bak. § Gen Bak pfd n... o2 fd. fri 5% a1 1312 113% 6 6 21 syl i 4 34 5 Y D : k G & W 2 Household Finance pf 1 Huylers ... 5 13 Insur_ Sccur 6intl Proc .. 1Intern Util A 4Intern Utl B 3 Keystone 'Aircrafi 1{Len Val C Sples 4 1%; Libb Owens Sh Gl iLib O 8h Gl rt sh ‘Bros e 2 A g zg'f: 2 20 623 60 ' 62% 1 11dse 17i te 6% Tl s deb’ 5 Marconi Intl Mar 3Nat Pub Ser A . 4Nat Rub_Mach ' 3Nat Sug R N J new 9 Nat Theater Sup §Nent Corp .. 2 Niagara Sha 19 Niles Bem Pnd . a Elec .. fluenced to some extent by rej an_easier tone in the smcky mnfi:fl‘ 7 Private cables said there had been trade, calling and continental buying in Liverpool, but that business in cotton cloths and yarns was rather restricted. NEW YORK, December 13 (Special). —New York bank clearings, n&u.m?- 000; NewNYorkyb-r:k balances, $150,- ,000; New York Federal credit balances, $137,000,000. g DIVIDENDS. saresatonn sursl FRERRS EEEE 0oZEEPoon 00000DOOD t1 . 5 v & Ind RR. Cinn Northe Cley Cin e 5 5 5ESE e 5 s FYRRRNENRY ERRYRRRRRRRAARNERTY b EEEEEEEE, 555 oG BB B &8 o 5 5 geeiewns 3 Fifth Are man ve Bank. Flatbush “Investinc Garfleld Safe ‘D g 3 art & Coole: nd Pny eu °Foo Int Germanic Ltd Inter Match, PR Dfls‘; 000002 2000000F! we SEEESY Y ® >3 . &bt L Erie & East Mahoning C "Inhohllnlln Fin A..37) - S e 1% R Rkt BER S 35 Eongnnppgnocoonngponn‘;’ooon o = 7% Bl A N ¥ Central RR. X Y Sta Really & T. Niles-Bement pf. ©hlo El Bwr % b Do 6% pf. Onomes Suai a_Cen $2.80 b Do $5° pt woss 2 =5 ol ERREYNERES FxzR000080! ARE: Do_ Tor H& BRR. ifted Bite o Mac USSP (B ser €-3) United ‘Utll 52{ o Virginia P Bg’ »f. Dolet pr." Western B 15 bf yuga & Sus R R. voe & Rayn A rfleld ‘Safé’ Dep’ & Cooley. . ca 1 De: 1 Gai Hart [ 855 BaREsRsERS Initial. Anchor_C 36.50 pf31.6213 Bach. Emmer, & Co.’ 50 Bapkers Bec Tr..... stic "b;w Works 5 4g%a o, Am nr.fixac fg........60c Increased. d P F Italo Pet Para Cab 3 Jan. Q Q Q Jan! MeCall Corp. . .81 % Feb. tandard Milling....$1.50 Mar. mited Util pf.. .85 — Dec. Reduced. Auto Sales Corp pf..75¢ - Jan. Stock. Coca-Cola Co. 00% — . ‘The directors of the Lincoln National Bank, at a meeting this noon, voted THE EVENING STAR, WASHINGTON, D. €, THURSDAY, DECEMBER 13, 1928.° NEW YORK CURB MARKET Direct to The Star Office 800 Humble O &R 200 Imp O Can . 00 50 Prairie P L ... 100 Prairie P L ne 100 South Penn O 23008 O Ind ... 18 0 K ow 4145 10 Am Aggre Cor 29Am Gas & EI 55 hi Rys_cfs dep Bec, s ot E o oaeisesmm—s’ u_P Iny 5s un 11 G : 15 Grand Trunk 6ij; 1t 9 Housion Guit G 20 Ind Ol & Gas 21ntl Sec Amer 5 2 Intersta Pow 5s 1 tnvest Bauity 55 65 A 92% L. 10813 1 a0 [ oW 63 Pow 5135 4 Gas 4! A 1013, .. 100 3 :1toba 2 Miiwaukee Gas 4%2s 5Mont War P C 85 ) Morris & Co 7ias.. . 3 Fotomac_E 1 Richfid Oif : 1 Richfld Oil 8ics. """ 102% 250 Roch Cent Pow 55 A. 887 7 Servel Co Del 55 20! 1§ Shawin ¥ 941 outheast 1Sou Cal Ed 5 3 Sou_ Asbestos s 5Stand P & L 6 18 Stutz_Mot, Tias Sun 135, 10 Western Pow 10 Wheel SiI 425 B.. Sglesin FOREIGN BONDS. thousands. 5 91 o1 1Asri Mor Ba Ts "47 % s uperpow _6s § Jukosi Sta Mor Bk 75 1 Muni Medellin_6%2s.. rbruecken 7S 3 Gaarbruecken b3 s Bras § Sifhnes 1 1536 5 Tyrol Hyd 7 Uni Elec Serv 4 Warsaw 7s. .. xd—Ex-dividend. When issued. NVitn warrants. 0 ol OVERHEAD BUSINESS 5212 52 20% 20% 5" 65 i 5 625 625 103% 108 607 60% 607 O o ‘Srarsctt bt 31 R ompnwDel Axle. 24 Timke Tishman Reaity 2 Todd Ship Trans Zonite Sales in hundreds. MINING STOCKS. 1 Apex .. 23 Wendon Col 8 Yukon Gol Sales INDEPENDENT OIL STOCKS. [} 3Argo Ol ... 51 Barnsd _deb’ rts . gynd s 14 Venezuelan Pet . AY" Oll n the regular semi-annual dividend of 5 per cent. The dividend is payable Jan- uary 1 to shareholders of record on De: 2 Sales STANDARD OIL ISSUES AND FOI in units. MER SUBSIDIARIES—STOCKS. 700 Anglo Am Of1 2600 Cont. Ol ., 18 18 18 18% 18% 8% » o/ EXPENSES INCREASE BY JOHN F. SINCLAIR. Special Dispatch to The Star. 'NEW-¥ORK, December 13.—The re- cent laige mergers in merchandizing are en attempt to cut down the spread between the manufacturer and the con- sumer, The cost of doing business through- out industry is not decreasing; if any- thing, it is increasing. Economies in mass distribution have not kept pace with economies in mass production. “When it is considered that the aver- age department store sells goods at front 50 to 100 per cent more than cost and then shows a net profit of only about 5 per cent on the average and at best only 8 per cent on total sales volume, the unduly high cost of dis- tribution becomes plain,” says the Wall Street Journal. “In other words, if an article is sold by the manufacturer for $1, the retailer charges from $1.50 to $2, and out of his gross profit of 50 cents or more makes- only 7% cents, the remainder going into overhead and operating ex- penses.” ‘The problem is how to cut the over- head and operating expenses so the benefits can be given not only to the retailer but to the ultimate consumer. One large American department store with sales of $123,500,000 in 1927 had a net profit of $1,498,000, or a profit on sales of 1.2 per cent. Another de- partment store with salesjof $102,756,~ 000 in 1927 had a net profit of $6,- 948,000, or 6.3 per cent profit on sales. These store records are typical. If one studies the merchandisinz records of recent years it is apparent that the cost of doing business is becoming heavi- er, for most department store chains have been showing declining profits on an_increasing sales volume. Mergers are of real service to the public when the benefits are passed on to the people by lowering the costs of the merchandise. right, 1928, by North American News- s paper Alliance.) Commodity Notes Railroad Equipments. PHILADELPHIA, December 13.—A big cargo of American steel rails and other railroad equipment is being load- ed here for Bermuda, and another will follow in a few weeks. Live Stock. BUTTE, Mont.—According to State officials, Montana’s combined income from live stock and agriculture this | year will be $2,802,000 larger than in 19! Silk. SCRANTON, Pa.—The silk and tex- tile mills in this district are doing a big business at present. Night shifts have been added at a number of plants. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Bld. Offer. Allis-Chalmers Co. 55 1037..... 100 100t Aluminum_Co. of Amer. 55 1952 101% American Tel. & Tel. Co. 45 1929 99! ‘Anaconda Copper 65 1929 . & Ohto 4125 1933 Batayian Pet. Corp. 4les 1942 Bell Tel. of Canada 55 1955.. . Califorpia Pet. Corp. 5%as 1933 10214 Canadian Nat. Rwy. 30. 99 Canadian Nor. Rwy. 41as 1035, Chesa. & Ohio Rwy. 4135 1930.. 99 Chicago Rock Island 45 1934, . 9414 Colorado & Sou Rwy. 4s 1929. 9912 Columbia Gas & Elec. 55 1952.0 98% ing Co. 5les 1937 udahy L 98 Ed. El Illum. Boston 4l2s 1930 99 Gen. Mot, Accep. Corp. 08 1937. Genera, Pet. Corp. 55 1940 101 A Southern Pacific R. R. 45 1920 9915 Standard OIl N, Jefsey 55 1946. 1 02 Bo. Ry. 4s 1929 987, 2. 4, Western Elecitic Co. 33 1044, . 1037a 103 Westinghouse Ei. & M. 55 1646 10313 - Wheellng Sicel Corp, 5145 1948, 100 | a range of 16.00a18.50 . pthy and clover Bays _ .int. BUSINESS REPORTS . SPEEDED BY RAIO Microphone Brings Heads of Firms in Close Touch With Stockhoiders. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, December 13.—Frequent word-of-mouth reports by the heads of tremendously large business concerns to their stockholders by means of the radio is in prospect. This was forecast by Darwin P. Kingsl head of the New York Life Insurance Co., Wednesday night in a broadcast address to policy- holders over a network extending west of Kansas City and St. Louis and south of Maryland. “It js one of the startling develop- ments of the day,” he said, “that the head of any great institution can speak as I speak now to his associates scat- tered over a hemisphere. “In the future I apprehend that many presidents of life insurance companies will speak to groups of policyholders di- rect. Later on I may speak to you again. That will depend on the reaction I get from this experiment.” Reports on Growth. the fact that in 1845 the company had no tangible as- sets; that in 1848, when Morris Frank- lin “became president, assets totaled $160,000 and after 37 years the assets had increased nearly 400 per cent to $61,000,000. Since that time to date they have multiplied 25 times. 1t is significant that the initiative in the matter of viva voce reports should have come from an insurance company head, since the comganies in that busi- ness are perhaps the largest investors in_the world. The life insurance companies now have nearly $100,000,000.,000 in insur- ance outstanding. Their holdings of stocks, bonds, real estate and other investments are enormous. ‘The public today undoubtedly is clamoring for more understandable and more direct infor- mation on business and on the affairs of industrial concerns than is furnished in the cut and dricd reports. Scores of companics have large lists of individual stockholders. General separate holders of lts shares. The holders. United States Steel has 72,600 stackholders and security investments around $92,000,000. The New York Cen- tral Raflroad has 54,000 holders of stocks on worth of securities outside those of its own family. New Broadcasting Field. It can be seen that there is plenty to report and plenty of interested par- ties to report to by any of the larger industrial concerns. Demand for this information has undoubtedly grown as a result of the wide participation of the public in stock market operations. The proposal by Mr, Kingsley opens a new field for radio broadcasting, although it is specially applicable for the insurance concerns. The insurance in effect in the United States is rapidly approaching the $100,000,000,000 mark and has increased between 4 and 5 per cent in the last year. The majority of the individuals who are holders of stocks are owners of radio sets. WHEAT IS HIGHER IN EARLY DEALINGS Firmer Liverpool Quotations and Rain in Argentina Send Prices Up. By the Associated Press. CHICAGO, December 13.—Wheat prices here averaged higher early to- day, owing largely to Liverpool quota- tions firmer than expected and to rains in North Argentina delaying movement of wheat. Wet weather over the corn belt had a strengthening effect on the corn market. Opening at a shade to 13, .advance, Chicago wheat reacted somewhat and then hardened again, Corn started unchanged to % up, and subsequently rose all around. Oats dis- played independent strength. Provisions likewise tended upward. Houses with connections Northwest were leaders in buying here at times today of wheat future deliveries. Some relation between this circumstance and the fact that navigation on the Great Lakes ended today was talked of, and notice was also taken of unlooked-for price upturns at Liverpool, as well as reports that delays to North Argentine wheat are resulting from rains. Italy was reported as buying wheat from Australia. In addition to adverse weather today for the movement of the corn crop ex- porters were giving evidence of activity in bidding for January corn shipments by way of the Gulf of Mexico. Country offerings today of corn to arrive in Chi- cago were small. Corn receipts for the day, however, totaled 495 cars, against 308 cars last week and 140 a year ago. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., December 13.— Potatoes, white, 100 pounds, 90al.25; sweet potatoes, barrel, 1.50a3.00; bushel, 50a1.50; yams, barrel, 1.50a3.00; beans, bushel, 2.00a4.00; beets, 100, 3.5024.50; broccoli, bushel, 60a75; brussel sprouts, quart, 15a20; cabbage, ton, 30.00a43.00; carrots, 100, 4.00a5.50; celery, crate, 1.50a3.00; cucumbers, bushel, 2.5025.00; eggplant, crate, 5.00a8.00; lettuce, ham. per, 1.25a2.00; onions, 100 pounds, 1.25 a4.00; peas, bushel, 3.00a4.00; peppers, crate, 6.00a10.00; squash, crate, 3.25a 4.25; Savoy cabbage, bushel, 40a90; parsnips, basket, 50a60; spinach, bushel, 40a90; oyster plants, 100, 5.00a8.00; to- matoes, crate, 1.50a4.00; turnips, bas- ket, 25a30; apples, bushel, 75a2.00; cran- berrles, box, 4.00a5.00; grapefruit, box, 1.75a3.75; oranges, box, 2.25a4.25; tan- gerines, 14 strap, 1.50a3.00. Dairy Market. Live poultry—Turkeys, pound, 40a42; old, 35a40; Spring chickens, 20a30; Leg- horns, 20a26; old hens, 22a28; Leghorns, 21a22; small and poor, 18al9; old roosters, 17a18; ducks, 22a25; small, 18a 20; geese, 20a25; guinea fowl, each, 40a 85; pigeons, pair, 30. Dressed poultry—Turkeys, pound, 38a 42; old, 35a36; young chickens, 30a32; old and mixed, 25a30; old roosters, 18a 20; ducks, 25a28; geese, 22a28. Eggs—Receipts, 1,063 cases; native and nearby selected whites, free cases, dozen, 48; firsts, 44; current receipts, 42. Butter—Good to fancy creamery, pound, 48a54; prints, 54a56; blocks, 52a 54; ladles, 38a40; store packed, 34235; process butter, 43a44. Hay and Grain Prices. Wheat—No. 2 red Winter, garlicky, spot, 1.32%; December delivery, 1.32%. Corn—No. 2 export, December deliv- ery, 97%; No. 2 yellow, 98a99; cob can, 4.75a4.80. Oats—No. 2 white, domestic, spot, 58a581%; No. 3 white, domestic, spot, 56a57. Rye—Nearby, 1.10a1.20. Hay—Receipts, 12 tns. While hay is arriving here in limited quantities only, it is more than ample for the de- by truck from nearby points, few car- loads being received. There is mot enough business passing to establish vrices on the various kinds and grades and all arrivals sell strictly on merit at per ton of tim- Motors, for example, has over 70,000 | Pennsylvania Railroad has 143,249 stock- { its books and $57,000,000°, BY KENNETH S. VAN STRUM. NEW YORK, December 13.—During a reaction a number of buyers are al- ways waiting for lowést prices. Many seem to hold the view that the dips are so sharp and prices rally back so quick- ly that in order to buy at the absolute low one only has a few minutes in which to act. While it is true, perhaps, that in or- der to obtain the lowest prices to the last fractions one must act quickly, successful traders do not try for the last eighth point, but are satisfied to follow Baron Rothchild’s recipe for wealth-winning: “Never buy at the bot- tom, and always sell too soon.” No Need to Hurry. As a matter of fact in order to huy very close to the bottom prices of a reaction, one does not need to act on the spur of the moment. A study of each of the stock market reactions since 1919 shows that one has the choice of several days during which to buy. This point can be easily proven by taking the reactions since 1919 and counting the number of days on each reaction that a stock average stayed within 3 points of the low. Any rea- sonable ‘investor should be satisfied if he can come as close as this to the bottom prices. The result shows that stocks have always remained around the low point for at least six trading days, and that on all except three re- actions out of the 14, stocks remained around the lows for nine days or more. Reactions of the Past. The reactions used are given in the following table, in the first column the number of days during which prices stayed around the lows, and in the |'second the number of times stocks dipped down to touch the actual lows: N . - dino\ TR : i 3 February ... 9 January june ... September-Qciober... March wrortsesttc et decline they make several attempts to force their way through before they de- cide to yield and run in the other di- rection. As a rsult, toward the end of a reaction stocks try to break through to new low levels several times before they start upward again. ‘While these dips do not always end at precisely the same point, they are close enough to afford several chances for buyers to pick up stocks very close to the lows. Averages Fluctuate More Widely. In order to determine the minimum length of time which prices in the pres- ent reaction will remain around the lows, it seems advisable to make some allowances for the fact that today the \n/ STOCK SPLIT APPROVED. RICHMOND, December 13 (Spe- cial). —In order to bring about a broader distribution of the stock of the First & Merchants National Bank of Richmond, a stock split at the ratio of 5 to 1 was approved at a meeting of‘the institu- tion’s directors and will be recommended to a meeting of stockholders called for January 8. ‘There will be no change in the amount of the bank's capital, but the split-uj will reduce the par value of the stocl from $100 to $20 a share and will in- crease the number of shares from 30,000 to 150,000. Stock is quoted at $283 bid and $291 asked. Purchase Plan Rumored. NEW _YORK, December 13 (P).— Drug, Inc., holding company for Lig- gett Drug Stores and affiliated con- cerns, is_understood in Wall Street to be negotiating for purchase of Life Savers, Inc., of Port Chester, N. Y. The terms are reported to be one share of Drug, Inc., in exchange for three shares of Life Savers, plus a small cash pay- ment. DAVE HCRNSTEIN, Ceresota 1 1 AR AR MAY JU JUNJULY AUG 128 St T SEPT OCTNOV DE 1926 OCT NQ! DEC JAN jrd 1928 averages are around 250, whereas dur- ing most of the period since 1919 they were closer to half that figure. High priced stocks tend to move over a wider point range than low priced ones, so that with the averages around 250 it seems reasonable to consider that one has bought stocks low enough in the present reaction when stocks can be bought within 6 points of the exact low of the averages. It would seem that those who have made up their minds to buy stocks during the present reaction will have more than six trading days in which to buy at very satisfactory prices. In addition, since the market will probab- ly take several sharp dips downward, each time coming very close to rock bottom prices, the investor need not worry about missing the low point the first time. (Copyright, 1928, Flour Chuck Roast Wise Bros. Chevy Chase Dairy Mil 0 i albe Gold Medal Flour flour in the world’ At All Our Stores OIL FIRMS ARE TAXED BY CHINESE WAR LORDS By the Assoclated Press. SHANGHAI, December 13.—Foreign oil companies doing business in China have fallen prey to the “tax experts” of ‘'various Chinese *“‘authorities.” Some months ago the Nationalists at Nanking coerced the Standard Oil Co. of New York, Asiatic Petroleum Co. of Great Britain and Texas Co. of America into paying taxes on gasoline and kero- sense brought into China at rates far above those allowed by existing treaties. Such taxes now amount to $1, Chi- nese currency, for every 10 gallons, as compared with the treaty rate of a fraction of this sum. < ‘The Nationalists collect the levy throughout territory over which they now have control, but as their au- thority does not include all China the oil companies are subject also to other authority. The latest agreement between the petroleum interests and the “authori- ties” concerns two Chinese military leaders in the Far West Szechuan Prov- ince, where the Nationalist regime has not penetrated. Under this agreement Generals Yang ince, each taking all he can get in taxes from his half. . Crude Lead Production, NEW YORK, December 13 #).—Pro- duction of crude lead in the United States and Mexico was 86,107 short tons in November, against 80,751 tons in Oc; tober, American Bureau of Metal Sta- tistics reports. Refined lead output totaled 76,717 tons, compared to 75,945 in October. Sen and Liu Halang divide the prov- | Turnips ...... Top Round Steak...... Fountain Brand Hams. Fancy Creamery Butter. Fancy Nut Butter. “Finest in Dairy Products” TEST AFTER Special Dispatch to The Star. NEW YORK, December 13—The test of a stock market that has had a long rise and then an abrupt decline usually comes the third or fourth day after the culminating break. The present stock market is now in this period of test. 1 From the high average of November 30 to the low average last Saturday ! the decline was 22 points. On Monday | there was an average rise of 315 points. | On Tuesday one of about 3 points.' Yesterday stocks moved backward and forward for the greater part of the session, failing to exhibit that degree | of restilency shown in the two previous | markets, and, what was quite signifi- cant, the volume of trading fell off to | smaller proportions than at any time | in nearly two months. | The question in the mind of Wall | Street now is whether the market faces | another dull period, and whether, has GS] SECRETARY 2 YULETIDE PREPARATION In anticipation of the heavy holiday business that we know our stores will enjoy, our buyers are already busily engaged in lining up the requirements of all our stores. In the United Stores will be found, as the holidays draw nearer, everything in food- stuffs that will help spread Christmas cheer, and at prices that will attract the most thrifty housewives. United Store in your naborhood regularly and it will be a pleas- ant solution to the marketing problem. Famous s Lbs. 90 12> 57c “The Prize Bread and Pastry Flour of the World” Pork Loin Roast ...... ceee e “Sweet as Our Service is a combination of ail the advantages a housc- wife could possibly hope for — Quality Merchan- dise always—Home De- livery Service—Reliable Charge Accounts—Espe- cially Reasonable Prices. THERE 1S A UNITED STORE NEAR YOUR HOME LOOK FOR THE BLACK AND WHITE SIGN Elaeid® OFanges . .. .. ... ... ke« cire stszans Fancy GRIDEFRUIE . ... .0 .o dodanv BT 200 Fancy Stayman Winesap Apples ..............4"25¢ PRHeG COEG . . 1.0 h il P S 5 Our Own Cooking Almonds. ." 3% Brazil Nuts ™ 29¢ Walnuts. . ™ 39¢ Seeded and Seedless 13 STOCK MARKET NOW FACES RECENT BREAK ing rallied about one-third of the average decline, further liquidation will set in. Normally, a market that has had a break of the proportions of last week should recover about one-half of its average loss before it turns down- ward again. From observations made in Wall Street the damage done by last week's break was not so severe on those who have been participants in the bull market as that of June. An after effect of the break has been a larger volume of odd-lot buying than at any time this year. The houses timt specialize in this business have been swamped this week. On the decline hundreds of small buying orders that have been on their books were executed. ‘The value of real and personal prop- erty of Hawail has just been placed at $390,553,000. Learn to visit the UNITED STORES ARE THE BEST STORES IN EVERY NABORHOOD YELLOW BAG COFFEE ORIENFA COFFEE....................; 't 4% GRANULATED SUGAR..............10 " 57c No. 1 MICHIGAN POTATOES........10 " 2lc - Wilkins “Just Wonderful” Lb. 39c Brand 25¢ 30c L 4dc v 62¢c Lb. Raisins Pk 10c to =298 IRUCREWNEINSE .. .. 4 DB L syt S M S Corby Baking Company's Good Peas . ... Quaker Oats ...... Shredded Wheat Fruit Salad. . ... TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) ate—Maturity. Bid, Offe; 35 Mar. 15, 9023-32 9 378 Mar. 15, 9023-32 99 30-32 41:s June 15, 100232 100 4-32° 4 15, 1929 190 10-32 100 12-32 3168 Ma 720-32 97 30-32 3128 Sep 9720-32 9730-32 3%as Dec. 9720-32 9730-32 FOREIGN EXCHANGE. (Quptations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks value (0f var), _today. L5085 S4B -0390% 15, 19: 15, London, pound. Paris, franc Brussels, bels mand, which is being supplied mostly | R Budapést, pens Prague, crown Warsaw, zloty Sopenhigen, o, crown Ll ok, 0. (nom.) 1 pound Carton Fancy Table Peas .. .. Fancy Cut String Beans Fancy Lima Beans . . .. .. Campbell’s Tomato Soup Bean Hole Beans . .. .. .. Ralston Breakfast Food .. Karo Syrup (Blue Label) . Pancake Flour (all makes) Log Cabin Syrup ........ etete . oo arere s .8 g RN Terer Tl ... 43¢ . Gertons Ready-to-Fry ......... Shredded Codfish ....... Codfish .. o ezeteT: Wonder Bread Toast for Breakfast—--It’s Delicious ] SUGAHEOII . .....i o siribodanh i bt net ARG Fancy Maine Corn ... s T Iae AR e T e 18¢ can, ***35¢c Sk o " 25e §ach s = 25 Ghapld of e gRe Schneider Baking Co.’s Famous Rye Bread, 11¢, 16¢ ‘Fancy California Quality Pears . ............"% " 35¢ Fancy Cherries (in heavy syrup) ...... AWM o ging i o e ’.l"% 1b. can 23c PRI s B i - Bl F b - Schultz’s Home Made Mayonnaise. .. .* = 21c...." 41c UNITED FOOD STORES, INC.