Evening Star Newspaper, December 20, 1928, Page 14

i4 — FINANCIAL,Y THE EVENING STAR, \\'ASHING‘T().A\'. D. C., THURSDAY, DECEMBER 20, 1 \ 8. NNUAL FORECAST HAS NINE POINTS! ‘loted Cleveland Market Ex- pert Issues Prophecies for Coming Year. BY EDWARD C. STONE. Col. Leonard P. Ayres of Cleveland. hose annual forecasts are followed ith wide interest by financiers in} vashington and clsewhere, makes the | ollowing nine ‘rophesies ~ for 929: 3 1. Short-term in- srest rates will robably be higher 1 first part of 929 than in first -art of 1928, and >wer in the clos- 1g months of next ecar than they ere in_ closing nonths of 1928. 2. Automobile ~utput_will almost urely be greater in -arly months of 1929 than in 1928 months, but less in “losing months of next year than this year. 3. Total value of new building per- mits is likely t» be somewhat less in 1929 than in 1923. 4. Total tonn: roduced in 1 ceed that of 1928. 5. Average prices of common Stocks | will probably be lower at end of No- Theodore Michael. of iron “and steel| ber, 1928. % | 6. It is not likely cost of living will | change much in 1929 1929 than this year. in 1928. Bank President for 12 Years. thriving institution. He first becam: this same bank. Two years later he was elevated to the presidency, and since that time has made an enviable record as a banker. Mr. Michael is a native of Maryland, but has resided in Washington through- out his business career. His first posi- tion was in the Government printing service. In addition to being an active | banker, he has found time to operate successfully a building material supply business, grain and feed establishment and a garage. He is much interested in the work of the District Bankers’ As- sociation, the local trade bodies, and during the war was active in the Liber- ty Loan drive. Incidentally he is a member of the Congressional Country Club and the City Club. Heavy Increase in Bank Credit. Both member bank and total bank credits have increased heavily over the past several years and especially since 1925, while member bank reserve bal- ances have remained at almost the same level since the war, the Federal | Reserve Board points out in its Decem- ber bulletin. This means an increas- ing amount of bank credit, with no corresponding control by the central( In round numbers, while member: bank reserve balances have remained | near $3,000,000,000, member bank credit 000 in 1919 to about $35,000,000,000 at | present, and total bank credit has; grown from about $37,000,000,000 in ' 1919 to nearly $57,000,000.000. Semi-Annual Dividend Declared. ‘The Washington Savings Bank will on January 2 pay the regular semi- 2nnual dividend of 3 per cent to stock- holders of record December 30, the directors having voted the dividend at a meeting held December 13. Of- ficers of the institution are: Thomas E. Jarrell, president; John D. Leonard, vice president and treasurer; William E. Russell, vice president, and Robert J. Earnshaw, assistant treasurer. Former A. B. A. President Here. Walter W. Head, president of the ©Omaha National Bank & Trust Co. of Omaha, Nebr., and past president of the American Bankers’ Association, with Mrs. Head has been spending a few days in Washington. Mr. Head was the honor guest at a luncheon given by Joshua Evans, jr., executive vice presi- dent of the District National Bank, ‘Tuesday at the Metropolitan Club, when the other guests were Nelson Johnson, Commissioner Proctor L. Dougherty, Floyd Harrison, Col. U. S. Grant, 3d, J. Brand, John J. O'Connor, Chester Wells, L. R. Eakin and Maurice | ¢ H. Avery. Dollars and Sense Appears. lication of Washington Chapter, A. I.| B., came out today and is an excellent number. Secretary of Commerce Whit- ing, Rear Admiral Morris, paymaster general of the Navy, and Richard W. Hill, national secretary of the American Institute of Banking, contribute special articles. The publication is edited by Aubrey O. Dooley of the Commercial National Bank. Special reports by A. E. Henze, chair- man of the educational committee; Frank M. Perley, chairman of the mem-~ bership committee; Mabel V. Royce, chairman of the women’s committee: Alfred W. Sherman, chairman ‘of the | ways and means committee, and Rich- | 31'2 dA Norris, chief consul, are pub- shed. Trading Active on D. C. Exchange. Trading was broad and active on the | Washington Stock Exchange today. The stock division opened with Capital Traction selling at 106, and closing at 105%. Chestnut Farms Dairy common sold to the extent of 25 shares at 190, while Railway & Electric preferred came out at 99'5 and closed at 3, Potomac Electric Power 5!5 per cent preferred figured in a 70-share turn- over, opening at 108!, and closing at | 3a. The 6 per cent issue moved at 112. Riges National Bank stock sold at 547 and 550, and American Security & Trust changed hands at 457, 45715 and 456. Peoples Drug preferred sold at 126%%: | 60 shares of Mergenthaler changed hands, closing at 1041;. Lanston sold | at 117%;. Washington Gas figured in two small sales at 104. Bonds main- tained recents lev 1 Heard in Financial District. The annual Christmas party of the | Bank Women’s Club of Washington was | a brilliant success. The dinner, program | and distribution of rare and costly gifts were thoroughly enjoyed. The Fox Film Corporation has de- clared the regular quarterly dividend of $1 on class A and class B common, payable January 15 to stock of record December 31. Reuben A. Lewis, secretary of the trust compan; division of the A. B. A., is to address the fiduciaries section of the local association at an early date. The Security Club of the American Security & Trust Co. will hold its an- nual Christmas party at 2400 Sixteenth street tonight, R. D. Lewis announces. Director Louis Rothschild of the Better Business Burcau gave another Instructive talk over the radiog this { Am Drug (60c). Am&For P 2d 7. Am Home Pr(3). Am Locomot(8). Am Loco pf(7).. 111" Am Metals(3).. Am Metals pf(6) 115 Am {Am Fiano pf.. AmP&L(11).. Am P6w pf(sta) Am Radiator(5). 188 Am Ry Ex(8), Am Republics. will probably not ex- | { 8 law e n Am Snuff (114). . % vember, 1929, than at end of Novem- |, <y M‘)sl:;). 204% Am Stl Fy pf(7) Am Sugar. . . 9 Am Sugar Df(7). 106% 106' 106 1061 7. There will probably be less un-|am s ) 106'% 106t 106 | smployment in opening months of 1929 | Am Tel & Tel(y) 1891 1 than in early months of 1928, but more | Am Tobacco(8). unemployment in closing months of | Am Tobac B(8). Am TyneFo(8).. 137 8. Trend of cost of building during | AmWW&El(cl), 1929 will probably be a declining onc,|.Am Woolen.-.s.. 24 9. Net profits of industrial corpora- | Am Woolen pf.’. tions as _compiled by Federal zRestclrvc Am Writ Pa ctfa vi han Bank will probably be less in 1929 e GG Am Zinc pf. Anaconda (4) Theodore Michael, president of tl:‘c ::ghoi(‘ap : orth Capitol Savings Bank, is round- es Copr 75c. . }:lg out hi’s twelfth fcar as head of hxs!ArCher-Dan(:l).. Al Aus Cred(4.49) Al .s 2 Auto Sales pf(3) 397 39’: Autostrap A (3). gaid Loco pf(7). 115 4110 & O(6).... 118% 1183 1 Elll%&ODl(‘). i e ambgr pf(63%) . 108% 108% 10 2 Bang & Ar(3%). % 65 o gp Bang & Ar pf(7) 104 Barker Bros(2). gzrkerp!(sx). Barnsdall B (2). Bayuk Cgrs (2). 117 Bayuk 1st p£(7). 105 Beacon Oil. Beecn-Nut (3). Belding-Hemwy. snlt& Co(3).... B Incresied Tiumn Soois 4S80SO | Bg hlehem Steel Bioomingdale. ., Blumnthl pf(7). 119 gnnAnuA({).. 2 8 orden Milk(6). 163% 1641 163y Boston & Maine. ’ 1 el Botany Mills (A Briggs MfgFCo. Brockwy Mot(4) s Bklyn £disn(8). 320 3820 Bklyn-Man(4).." “72% Bklyn-Man pf(6) BklynUnGas(5). 185% 186! Brunswick B(3) Brunswick Ter Bucyrus(1) Bucyrus ev(214) Burroughs(t4). Bush Term(g2), i Bush Ter de(7). Butte Cop & Zine Butterick Co.,... Byer & Co...... Byer & Co pf(7) By-Prod (13%). Calif Pack(4)... Callahan Zinc. 3 Calu & Ariz(17). 116% 118% 116 Calu&Hec (2%). Can Dry (t43%). Can Pacific(10). 232% 2331 231 ganora:Mlns 2.80. 'ase Thr pf(7).. 125 Leander McCormick-Goodhart, Charles | Cent Alloy:s) Capt. | Cen Ry NJ(t12). 330 Certain-teed Pro Chandler-Clev. . Cuandler-Cl pt. . Dollars and Sense, the official pub- | Ches & Ohio(10) 200 D! Chi Great West. Chi Gt West pt.., Chi Ml & St P. . Chi Mil & StP pt | Chi & N | Chi Pne Tocl(6). 166 Chi RI&Pac(6).. CRI&P pt(7). Chi Yel Cab(3).. Chickasha(3),., Childs(2.40). ... Chile Copper (3). Chrysler(3).... City St B5% stk 107% 108 Cluett-Peab(5) . JL‘Luen»I‘en PL(T) 1145 114 Coca-Cola(6)... Collins & Aikmn Col Fuel & Iron. ol Gas & EI(5). 128% 130, % 1297 Col G&E pfA(6) o e e Col Carbon (4) Com Cristpf 6% 100 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Open. High. Low. Close. 414 414 38% 38 83 393 32% 34 49 % Abitibi Power. .. Apitibt Po pf(6) Adams Exp(6) Adams Millis(2) Adv Rumley.... Adv Rumley pf. Ahumada Lead. . Air Redctn (13) . Ajax Rubber.... Alaska Junea. .. Albany Papr(2). Allied Chem. ... Allis-Chalm(7). Amal! Leather Amerada(2) Am Agricul Chm 20 Am AgriChpf.. 684 Am Bank N(13). 12 Am Bk N pf(3).. 60% Am Bosch...... 43% Am Br Sh(j1.60) 2 Am Brown Bov. . Am Brown Bo pf Am Can (14) Am Can pf(7). AmCar&Fdy(6), Am Chainpf(7). Am Chicle (2).. 88 9% 8 24% 9 1 374 381 200y 68% 126 1 6014 433 43% 147 49 491, 4913 491, - 101% 103% 100% 1027 141% 141% 141% 141 92 93 91y 79 79 78 46 4814 46 10% 10% 10% 3 82 28114 6835 683 6% 60% 42 4215 Am EncauTil(3) Am Express(6). 28113 2! Am & For Pow. . 69 96% 76 m Ice(124)... 424 4215 m Internatl(2) 1275 127); 1 97 99y 96% 551 atGaspf7 97% 40 78 8214 188% 186'% 1861 134 134 134 62% 58 60 67% 67T 6T% 4% B4 34y 4 .e 134 6: Am Saf Razrs). B4y 1ting(8) 270 265 270 4% 204% 204% 6113 6 6115 62 112': 1122 111 111 8215 B3% 8215 82w, imat (n3). 55 5 & 176 176 137 813 6914 57 1315 4210 39% 43 1047 106 108% 110% 49% 4 49% 497 99 10015 it Pa 6 pt 391 1042 105 99 99 Arch-Dan pf(7), 113% 113'% 1134% 113% deeply interested In banking in 1914, | Srnoue Dl pf 7 } - vi resident of e when he was elected vice pi Armour I11(B) .. Arnold Con & Co AssoDryG(2%). Asso O11(2) Archison(10 Atch T&S Fe rts Atchison pf(5).. 1043 10. Atl Gulf & WI., Al} Gulf pf(3).. Atl Coast L(110) 165Y 0 Atlantic Ref(1). s o Atlan Ref'pf(7). AtlasPowder(4), Austin-Nichols. 9013 15t 15% 8K 39% 40% 65%% 66 444 44y 194% 195 194 195 2% 2% 2% % 1 1044 101% 437% 437% 43 n 567 57 56 90% 9015 9015 5% 15% | T% 8 39% 40 64 64 445 44y 3 % 1654 56la 5674 55% 561 116% 116% 116% 11 101% 102 101 101 | 6 6 6 6 | 31 3L 81.g 61% 61% 61% 61% ustin-Nich pf. . uto Sal b 40% 444 116% 18 9% 24 39% 4% 44% 44y 116% 115 9% &0 79y 63% 635 104 65 104 104 31 31 a1 o 94 94 94 41% 424 41w 4% 40% 40 40% 4014 174 116 116 105 105 1 22% 22% 22 arnsdall A (2). 90 13 834s 843y gz‘u‘ 8 eth Steel pf(7) 1221 1223 122&: lgg:: 44% 44% 44 44 % 119% 117% 117% 82 84 2 84 91 91 14 14 14 501 51% 49 69% 6! 6814 320 91 14 51 69 320 11 89 i 185% 1861 49% 49% 49 49 37% 38 37 37 36% 36% 35% 36 464 46 46 46y | 215 217% 215 216 % TN 6% 1Ty 109% 109% 109% 1091 8% 8 8 gy, 40% 40% 404 40 183 1893 181% 183 117 317 2097 1y, % 9% 9% 95 % 13% T3% 734 3% 3 3 116% 424 42% 41 415 W% 1T % 76w 231% 44% 125 47 330 103% 234 201 35% | 22015 73 89 89 44% 44% da% 125 125 47% 330 Jerro de Pas(5). 104': 10; 23% 2 20 21 354 35% 5 5 330 103 2313 20 35% 202% 200 Td% % 201 20% 46% 471 32% 3 534 5 86% 85% i 166 160 128% 12 n(tlz). 1228 1197% 106 623 121 625 63 165% 1 49 67 48 651 49 697% 107 107 69% 701 117 117 5214 53 100 107 10 68% 6! Columbia Graph Com Cred (1) ComCrpf(1%). 25 Com Inv Tr(34). 122 Com Inv (war).. 25 Comm Solv (j8). 221 Com Power(13). 101% 101% 101 101 Conde Nast(2).. 80% 84 80'% 801 Congoleum-Nair 274 2% 264 26% ConsolCgrs (7). 93 93 93 g3 ConCigprpt(6%2) 96 9% 96 Con Film pf(2). 26 Consol Gas(5).. 106 ConsolGaspt(5). 997 ConRRCuba pt 6 70 ‘onsol Textile.. 4% ‘ontainer A 1.20 211 Container B 60c. 104 Cont Baking A.. 48% Cont Baking B.. 9% ont Bak pt(8).. 90 Contl Can (n) 56 Cont Insur(6)... 56% Contl Mot(80c). 174 Corn Pro(13%). 88% Coty, Inc (12%) 74% CrownWP1stpf? 100% Crucible Stl(5).. 83 CubaCaneSugar. 5% Cuba Cane Supt 16 Cuba Company.. 23% Cuba R R(4.80). 80% Cuban Am S(1). 16% Cudahy Pkg(4). 62 Curtiss Aero(1). 142% Cutir-Ham(3%) 61% Davison Chem.. 6% Debenhms(2.01) 374s Deere&Co pf(7). 124% 1241 s Del & Hudi) . 190 191 1801, Dghde o D A1T0.0 b0 33T 1305 Mol 25 221 25 2 2184 221 3% 100% 84% 611 144% 140% 61% 61% 56% 55% 55% 8T & | Gen Mot Open. Den RG Wn pf 55 Detroit Ed(8) 24 Detroit Ed (r 20% Det & Mackinac. 41 Devoe A (13.20). 59 Diamond M (p8). 154 | Dome Mines(1). 94 Drug Ine(4).... 1147 Dunhill Int ($4). 87 Dupont (118%). 470 . 108 125% Au L pf(7). 111 Iilectric Boat. lecPow&Lt(1). g Pu S pf(5). ie R R. . Erfe 1st pf. Erie 2d pf. Eureka V(1%).. FedLight(h1.40) Fed Light pf(6). 100 Fed MotT (fS0¢). 187 Fidelity-Phoenx. 98% First NatS(1%). 69 Fisk Rubber. ... I Rub 1st pf. sk R 1st f ev. eischman 315 sheim (A).. srsheim pf () lansbee (2).. Foundation Co. Fox Film A(4).. Freeport (163%). Gabriel Snub A.. Gardner Motor. Gen Am Tnk(4). Gen ATC pf(7).. 1 Gen Asphalt. ... Gen Cable A(4). 20% 14% 86% “ Thlh D(60c) 111 nlce Crm(i4) 100% n Mills (3)... &3 ors 9% 1 (New). Gen Mot pf(7).. GenOutdrAd(2). Gen Outdr Ad(4) 51's Gen Ry Sig(5).. 97% Gen Refrac(s).. 74 Gillette S R(c5). 1154 Gimbel Bros. 3 Gimbl Br pf(7).. Glidden (11%).. Gobel (Adolph). Gold Dust (5) Goodrich(4).... Goodrich pf(7).. 111% Goodyear Tire.. 107 Goodyr 1st pf(7) 101 Gotham(123%).. Gothamn v 323 Gould Coupler A Graham-Paige. . Grhm-Paige cfs. Granby (6)..... Grand F&W (1). Grand Unon. ... Grand Un pf(3). 3 Grant W T (1).. 114 Grt North pf(5). 107% Gt Nor pf efs(5) 105 Gt NoOr efs 2%. 26 Grt Wn Sug 2.80. 35% Grt Wn Su pf(7) 114 Greene Cana(6) 174% Guantanamo Su. 5 Gulf Mo & Nor.. 50% Gu M & N pf(6). 101% Gulf Stat Sti(4). 65 Hacknsk W(112) 25 HamiltonWpf(6) 100% Hanna 1stpf.... 9 Hartmn B(1.20). Havana EIRy. .. HavEl Ry pf(6). Hershey Corp. .. Hershey pf(4).. Hollnd Fur 12% Hollander & Son Houston 0Oil..... Household(14) .. Howe Sound(4). Hud Man(2%).. Hud Man pf(5).. Hudson Mot(5). 86% Hupp Mot(£2)... 74% Illinofs Cen(7).. 141 Ind O & Gas (2). 31% Ind Oil&Gasrts. 15 Indian Mot (1 ) Indian Mot pf(7) 96 Indian Refining. Indian Refg ctfs Indust Rayon... 1231 Ingersoll-R(16). 107 Inland S(k16% ). 76! Inspiration((3). 42 InterboroRapTr. 47% InterconRubber. 11% Intl Bus Ma (c5) 150 Int Cement(4).. 84 Int Com Enge2), 65% Int Comb pt(7). 108% Int Harvstr 110, 232 Int Harv 12%... 83% Int Mtch pf 3.20. 9274 Int Mer Marine.. 5l Int Mer Mar pf.. 36% Int Nickel (3)... 2 Int Nickl efs(3) 2 Int Nickl of Can. Lot Paper(2.40). Int Paper pf (7). Int Papr & Po A, Int Papr & Po B. Int Papr & Po C. Int Pa&Po pf(7) Int Prig Ink 2%. Int Ry Cent Am. Int Ry CApf(5). 81% Int Silver....... 1424 Int Te! & Tel(6). 190 Interstate D S. 4% Intr Dep S p£7.. 131 Intertype(t13:). 26 Island Creek(4). 54% Jewel Tea (15).. 159% Johns-Manv(3).. 175 Jordan Motor... Jordan Mot(rts) 1 K C Po&LtB(6). 112 Kan City South. 8% Kan CSo pf(4).. 69% Kaufmn DS 1%. 31 Kayser J(5). 130 9074 48% 40 26 9% 58 67% 82% 43 18% 874 74 67 52 82 297 h Keith-Al p£(7. Kelly-Spring. ... Kelly Tire 6% e, Kels Hayes(2).. Kelvinator Corp. Kennecott (8)... 144% Kinney pf(8) 9314 Kolster Radio. 70% Kraft Pho(1%). 48 Kraft (1%). 3315 Kraft (rights) 1% Kraft pf (6%).. 100 Kresge(71.6 83 Kresge Dept S.. 28 Kreuger & Toll.. 34% Kress SH(h1%). 113 Kroger Gro(c1). 116% Kroger (rights). 1% LagoOfl........ 31% Lambert Co (7). 122% Lee Tire & Rub. 21% Lig& Myrs B15. 90% Leh Por Cmt 2% 524 LehighVal(33%). Lehn & Fink(3). Lima Locomtve. Liq Carb( 14%). Loew’s Inc (13). T Loose-W (1.60) Lorillard Co. Lou Louis G Ludlum Sti(2) McAndrew 98% 62% 8 = . 99% > 101 McKeespt Tin Pl 73% McKes&Ro 1.60. 48% McKsn pf A 3%. 60 | Mack Truck(6).. 101% Mackay(7)...... 125 Macy Co (2) 1 Mad 8q Gar 1. 20% Magma Cop(3).. 67% Mallison & Co... 34 Mallison pf(7).. Man Elec Suply. Man El m2g(d3) Man Shirt(2). Maracaibo Oil.,. Market St prior. Marlan Oil. .. ... 50% 33% 17% 3915 41% T4 Marmon Moti4ds igls 13% - . High. Low. clsnse. 220% o a1 59'% 154 10 11474 1 8814 479 87 108 123 111 127 111 100 19% 98% 100 18% 981y 68 100 18% 98l9 50% 20% 20% 11% 101 83 1 11% 5% 17 3% 115 481 48 9% 91% 33% 323 5L 484 50T 132% 128% 130% 9115 89 90 111% 111% 111% 107% 104% 1047 101% 101% 101% % 6 76 70 7 47 40% 1157 481y b4 46 10 875 85 2914 481 40t LRI 87l 30 53 114 108 1064 105 2614 36 114 174% 5.8 50% 50 5 102 101% 102 65 65 65 25 25 28 100% 100% 100% 92 92 92 26% 25% 106 58 4% 141 82% h 37 96 30% 29 273 27 1256% 12314 126% 107 107 107 78 76% 774 43 41% 424 T 4% u% 11 150% 147% 14814 85% 8315 831 6613 64% 654 108% 108% 108% 332 332 332 83% 83 83 95 9215 924% 5l b 262% 259% 260 3% 140% 140% 314 31% %W 34% 354 96 6 142% 1421 1423 193% 190~ 193% Tk T4% 15k 131 131 131 26 26 26 54% b4% 544 162% 159%4 162% 181% 174 181 13% 13 134 1 %0 12 112 112 884 8Tl 88 69% 69% 69% 31 30% 30% 834 Bk i 39 120 118 22% 21% 94 43% 42 16% 16 1 146% 142% 14 931 931 93k 68% 68 | 48 48 33 33 1% 141 100 100 100 8415 8210 20, 28 34% 33% 34k 113 118 118 116% 114% 115% o 1% 1% 32 31% 82 125% 122 125 21% . 20% 20% 91% 90 521 524 93 60 45 98% 100 €24 8 24 100 Martin-Parry Mathieson(6) { Mathieson pf( May Dept S(4).. Maytag (12). Maytag pf(3).. Maytag 1st pf(6 Melville Shoe(1) Mengel Co MetroG pf(1.89) Mexican Seab. .. Miami Cop(1). Mid-Continent.. Mid-Cont pf (7). Middle States Mid States ctfs Midland pf(t12 MStP&SSM 1 (4) Minn & St Louis. M St P&SSM pf. Mo Kan & Tex. . Mo K&Tex pf(7) Missours Pacific. Mo Pacific pf(5) Mohwhk Car 21 . Montzom Ward. Mont Ward(rts) Moon Motor. . .. Mother L (40c) Motor Meter A. Motor Prod (2 Motor Whi( Mullins pf (7) Munsingwr(3). Murray Corp.... Nash Motrs(16). Nat Acme(sta).. Nat Bellas Hess. NatBHess pf(7). Natl Riscuit(17) Nat Cash Reg 14 Nat Cash Rrts. Nat Dairy (13).. Nat D St 1st(7). Nat Distiliers N Nat Lead pfA(7) Nat Pow&Lt(1). Nat Radiator. .. v Mex 2d Nat Tea(4)..... Nevada Cop (2). N Y Air Br(3)... N Y Central(8).. N Y C & StL(6). N Y C StL pf(6 N Y Dock. . N Y & Harlm NYNH&Hart(4) NY NH&H pf(7) NY Ont&Westn Y Railways pf Y Stm pf(6).. N'Y Stm pfA(7). Norf & Wn(110) NorAm b10%stk North Am pf(3). NorAm Ed pf(7) North Pac(5) Nor Pac cfs(5). Norwalk Tire 011 Well Supply. 1 0il Well S pf. Omnibus. OppmCollins(£4) Orpheum pf(8).. Otis Elevatr t8. Otis Steel Owens Bot (c4). Pacific Gas(2). . Pac Ol} Stubs. .. Pac Tel & Tel(7) Packard M t5%. Pan-Am Petrolm Pan-Amer Pet B. Panhandle . Paramount-F-L Park & Til(33).. Park Utah(80c). Pathe EX....... Pathe Ex(A). Patino M(2.92). Peerless Moto! Penick & Ford. . Penn Dixie Cmt. Penn RR(3%).. Pere Marq(18).. Pere M prior(5). Pet Milk (13%).. Phila Co pf(3).. Phila& RC&I. Phil Morris(1).. Phillips Pet (2). Phoenix pf(7). Plerce-Arrow Pierce-Arrow p! Plerce Ofl....... Pierce Oil pf.... Pierce Petrolm. . Pillsbury (12.10) Pillsbry pf(6%) Pitts Coal - Pitts Term Coal, Pitts Ter pf(6).. Pitts&WVa(6).. Por RicoToA (7). PortoRicoTobB. Postal T&C pf 7. Postum(3)..... Prairie Oil&Gas. Pressed Stl Car. Produ & Refinrs. Pub SerNJ 12.40 Pub Serv pf(6).. Pub 8 NJ pf(7).. Pullman Co(4).. Punta Aleg Sug. Pure Ofl (1).... Pure Oil pf(8).. Purity Bak(3).. Purity Bak(rts) Radio Corp..... Radjo-Keith (A Rand-M(al.52) .. ReadingRy (4) .. Real Silk Hos Reis(R)& Co. Remingtn-Rand. Rem-Rd 1st(7).. Reo Mot (71.70). Repl&S(4).... Rep Ir & St(rts) Reynolds Spngs. Rey Tob A 16 Rey Tob B 165 . RhineWE(1.92). Richtield O11(2). Rossja Ins 1615 . Royal Dtch (rts) Rutland pf...... St Jos Leaai13). SIL & SanF (18). StL Swn pf(5).. StL&Southwest. Savage Arms(2) Schulte (J3%).. Seab Air Line. .. Seagrave(el.20). Sears-Roe(12%) Seneca Copper. . Shattuck FG(2). o Shell Un(1.40). Shell Un (rts). Shubert The(5). Simmons Co(3). immsPet (1.60) clair O1l Sinclair p£(8) Skelly O11(2) Sloss-Shef (6)... Snider Packg Co Snider Pkg f... So Po Ric § 2 South Calit E South Dairies A South Dairies B. South Pac(6)... South Ry(8). South Ry pf(5). SouRyM&O cfs 4 Spang Chalfnt. . Spear&Co pf(7). Spicer Mfg..... Spiegel Co (3).. Std Com To(f1). SAG&E (3%). Std G & B pf(4). Std Milling (6) Std Millg pf(6). Std O of Cal(13) StdOIINJ (11%) . StdO{INY(1.60), 100 9% 101 101 3% 73 48% 48 48 61 58 59% 103% 101% 103 125 125 125 171 170% 170% 21 20% 20% 69% 650 65 34 34 34 102 301 5013 3315 18 3914 42 717 s W8 1B, 9 101 3% Submarine Boat. Sun Ofl (g1). Sun Oil pf(6) Superior Oil. Superior Steel. Sweet of Am(1). Tenn Copper(1). Texas Corpn(3). ‘Texas Corpn rts TexasGulfSul(4) Texas & Pac(5). Tex Pac C & Oll. Tex Ld Tr(new) Thatcher Mfg. .. The Fair(2.40) Thomp J R(3.60) Tidewater AsOil THIWASOIIPL(6) Tidewatr0(80c) Zde WV OUPLHI. Open. High. Low. Close. 16. 16 ' 18 13115 133 230 230 6614 9915 280 8914 1% 121% 122 93 93 35 53% 140 1pply (18). 13 e 184% 186! 13315 1 108 108 50 % T 114% 1140 2819 281y B 101 101 112 112% § 191%% 191 191 92% 88% 91 53% 53% 534 1017 1017 101% 106 106% 104 104 5% % 20% 30% 104 104 8% 145% 146% 47 4% 48 13% 10% 9% 234 337% 18% 344 18t 1015 301 30% 1% 17% 78 78 139% 139% 79% 9% 351 37 103% 104 65% 66 61% ] 5l 106% 105% 117 117 81% 84% 19% 19% 26% 26% 11 1M1% 1204 120 2% 2% 343 360 38% 401 378 10% 190% 190% 5! f 4 284% 235 7 7 7 69% 69% ‘5% 5% 114 114 9415 9. 1047 105 5% 5% 1241 124% 27% 27H 5% 4 109 109 . 34% 114 11% 31% 41% 52 39 35 115 1% 319 14% 14% 125% 125% 145 145 99 99 128 51 51% 8 78 43% 47 8% 19% 824 33 6% T6% 65% 65% 132 1324 109 109% 21% 25% 341 347 | | | was probably not the only motive for STOCK PRICES FIRM. AFTER EARLY GAIN Activity Decreases as Selling Follows Rise in Va- rious Issues. BY GEORGE ~. MU Special Dispatch to The Star. NEW YORK, December 20.—Stocks gave a good account of themselves in | today's market. Opening higher, they reacted only partially when money, | which had renewed at 7 per cent was advanced to 8 per cent. Trading be- came dull on the decline and in the last hour the list rallied, leaving off not far from the best of the day. It was a convincing demonstration of the im- proved technical position. The turnover was considerably larger | than at any time this week. Moreover it was greater when the market was ad- vancing than when it was declining. Prominent in the last hour was Beth- Jehem Steel. Taken in larger blocks of | from 5,000 to 6,000 shares, it pushed steadily forward to a new high for the year, Talk of an carly restoration to a dividend basis was heard again, but that | HES, the buying. Copper stocks were higher and Victor Talking Machine after an erratic early movement closed strong. 5 - | CHICAGO LIVE STOCK MARKET CHICAGO, December 20 (P).— United States D-partment of Agricul- ture, Hogs—Receipts, 65,000 head; largely 25 lower; fairly active at de- cline: largely an 8.40a8.50 market for 170-280 pounds weight; 850 top: butchers, medium to choice, 250-300 pounds, 8.30a8.555: 20-250 pounds, 8.30 a8.55; 160-200 pounds, 8.1028.50; 130- | 160 pounds, 7.40a8.35; packing sows, | 7.60a8.10; pigs, medium to choice, 90a 130 pounds, 6.85a7.85. | Cattle—Recceipts, 8,000 head; calves, | 3,000; steer and yearling trade about | steady, with Wednesday's 25a75 down~i turn: shipper demand narrow, but well | finished steers very scarce: she stock | and light yearlings dull; weak; other classes about steady: slaughter classes. steers, good and choice 1,300-1,500 pounds, 12.75a16.25; 1,100-1,300 pounds, 12.75a16.25; 950-1,100 pounds, 12.50a 16.75; common and medium 850 pounds | up, 8.75212.50; fed yearlings, good and choice 750-950 pounds, 12.00a16.50: heifers, good and choice 850 pounds .50; common and | good and | . common and | 6.00a8.00;: bulls, good and choice (beef), 9.25a11.25; cutter to medium, 7.00a9.25; vealers (milk fed), good and choice, 12.75a15.00; medium, 11.50a12.75; cull and common, 7.50a | 11.50; stocker and feeder steers, good and choice (all weights), 10.75a12.00; common and medium, 8.50a10.75. Sheep—Receipts, 15,000 head; limited early sales weak to 25 lower; early bulk fat lambs, 14.00a14.25; top, 14.40; sheep steady; top fat ewes, 8.00; feeding lambs slow; lambs, good and choice, 92 pounds down, 13.50a14.50; medium, 12.25a13.50; cull and common, 8.75a12.25; ewes, me- dium to choice, 150 pounds down, 5.50a 8.00; cull and common, 2.25a6.00; feeder | lambs, good and choice, 13.00a14.25. cows, R L Cities Service Dividend. NEW YORK, December 20 (Special). —-The-Cities Service Co. has declared the regular monthly dividends of 10 cents cash and 12 of 1 per cent in common stock on common, 50 cents on the preferred and preference BB and 5 cents on preference B stock, all | payable January 2 to stock of record December 15. Open. High. Low. 4 145 144% 103% 103% 102 Timken R B(6). ‘Tobac Pr 8). Transcont Oil Transue & W ( Trico Prod(2% ) Truscon (£1.20). Twin CityRT (4) Twin City pf(7). Undwd-El F (4) Un Bag & Paper. Union Carb(6).. Un Oil Cal(2)... Union Pac(10).. Jn Pacific pf(4) Utd Biscuit 1.60. Utd Cigar St(1). Utd Elec Coal. . Utd El Coalirts) Utd Fruit(t5%). US Cast Ir P( CIP 18t 1.20, US CIP 2d 1.20.. U S Distributing U S Hoftman(4). S Alcohol(5).. Leather.... Leathr A(4) Realty(4).. Rubber. . Rub 1st pf.. Smelt(3%).. Sm pf(3%). US Sm&Ref rts.. U S Steel(7).... U S Steel p£(7).. Uni Leaf Tob(3) Uni Pic 1st pf(8) Univ Pipe & Rad Utah Copper (12) Util P&L A(e2). Vanadium (14).. Van Raalte. ..., Vick Chem(4)... Victor Talkg(4). Victor pr pf(7).. Va-Caro Chem. . Vir-CarCh pf(6) Va El & P pf(7) Vivaudou Co. Vulcan Detin. Wabash. . . Wabash pf A(5). Waldorf(1%). . Walworth (1.20) Ward CLA(S). .. Ward Baking B., Ward Bak p£(7). Warner Bros Pic Warner Bros pf. Warner-Qu(2).. Warrn Bros (15) Warren F&Pipe, Wesson Ofl (4).. W Penn ELA(7). W Penn EL pf(6) W Penn El pf(7) West Dairy B. .. West Maryland. West Pacific. ... West Pacific pf. West Union(8).. 1 Westhse A B(2) . Westinghse(4).. Weston Electric, White Eagle(2). White Mot(1)... WhitRck cfs(2). White Sew Mach Wilcox Oil & G-, Willys Ov 120 Willys Ov (rts). Willys-Ovd pt 7. Wilson & Co.... Wilson & Co pf. Wilson Co pt A. Woolworth(5).. & Worthn Pump. . Worth Pump(A) Worth Pump(B) Wright Aero(2). Yale&Twne(15). “ Yellow Truck... 36% 41 Young Spring... 48% 49 4814 Youngstn Sh(5). 102 104% 102 104 Hourly Sales on N. ¥. Market. 0am.. 636,800 12m... 2,004,400 695,700 2:1 981,500 FEREREEL s s S s s s s 112 18% 58% 106% - 15% 59 nnual cash payments based on the st quarterly or half-vearly declarations. Unit of tradi CONDUCTORPLAYS SANTA FROM TRAIN Rock Island Employe Delights | Children Along His Route. By the Assoclated Press. PRATT, Kan., December 14—Santa | Claus travels by rail instead of sleigh from here to Tucumcari, N. Mex. Every year, I. M. Barton, one of the oldest conductors on the Rock Island Railroad, selects a day shortly before Christmas for appearing before his pas- sengers in the cheerful garb of old St. Nicholas instead of the severely blue uniform he ordinarily wears. He plays Santa's role not for the passengers, but for the children who live in the towns and on the farms that break the monotony of the prairies along the railroad through Southwest- ern Kansas, Western Oklahoma, North- ern Texas and Eastern New Mexico. Slips of paper are dropped by the conductor from the car window early in December. The notes are addressed to all children who love Santa Claus, telling them on what day they can ex- pect to see this remarkable character himself on the rear platform. The word spreads to all homes in the towns and to the farms on both sides of the railroad. On the appointed day, train No. 1 is met by eager young- sters. The children gather not only at the stations where the fast flyer makes regular stops, but also along the righi- of-way in the country. They know Santa Claus will be on the lookout for them, whether the train is standing or noving. From the rear platform he throws boxes filled with candy, fruits and nuts, fl:}d the children joyfully pick up the gifts. Barton himself provides the tasty | things for delighting the children’s | hearts and palates. ~Occasionally he throws off the train a top instrusted to him for delivery to a certain child whose place of waiting for Santa Claus | Is arranged in advance. | The conductor decided to become a| Santa Claus after he had observed how happy he made children to whom he | threw magazines and comis sections of | newspapers left by passengers on the;‘ train. Barton has been employed by the Rock Island for 41 years. His home is in Pratt. MODERN FURNITURE | REPLACES ANTIQUES French Actre:_wIUse Decora-“ tive Articles to Furnish Country Villa. PARIS (#)—Modern decorative art | was given a puff when Cecile Sorel announced she would sell off her | eighteenth century art treasures, in-| cluding the bed of Du Barry, the King's | mistress, who helped bring on the French revolution, and substtituted the newest in French modern furniture. The Du Barry bed went to America with Sorel years ago when the actress toured there. It is almost as famous in theatrical legends as Sarah Bern- hardt’s coffin. ' Sorel, in private life the Countess of Segur, is a successor to the stellar po- sition of the late Bernhardt in the Comedie Franchise, France's national theater. Her treasures include furniture presented to her by famous people, art objects and fine old silk hangings. All of it is to go under the auctioneer’s hammer. Some of it has already gone. With the proceeds of the sale Sorel intends to commission the leading furni- ture designers of France to create a modern background for her and her husband, who is a Frenchman of quiet tastes. The Segurs have purchased a modern villa not far from Malmaison, where Napoleon’s divorced wife, the Em- press Josephine, spent her last years. The villa is a modern white affair with straight, box-like lines, devoid of super- fluities. Brick red with much orange in it is the color that designers exhibiting at the salon seem to prefer for the modern dining room. One terra cotta room utilizes nothing but angles in its com- position. It is done in burled walnut with velvet upholstered chairs of brick dust shade. Some of the newest furniture is made of hollow metal tubes. There also are several models of forged iron furniture, most of it used for dining room buffets and entrance hall tables. Value of Manufactures. According to the Department of Commerce's biennial census, the value of manufactures in 1927 of those com- panies engaged primarily in the manu- facture of rubber goods, other than tires, tubes, boots and shoes, was $230,- 645,526, against $219,868,989 in 1925, an increase 'of 4.9%. Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission. Joseph I. Weller Fipiihs § BE WISE—DEAL DIRECT AUTO GLASS Installed with best erade l: and" workmanship. " $2.50 to $4, Any Car ACME AUTO GLASS CO., Inc. 1108 K St. N.W. Main 445 Consult Us First If you need money for your Real Estate financing let us have your application today. Prompt Service No Appraisal Fee The Commercial National Company Incorporated Pald up Cash Capital. $900.000 Commercial National 14th and Money for First Mortgagey Whether you want to refinance or build, con- sult us concerning the loan you want. We give it immediate consideration and the money is available in any required amount. f Interest ot Conmmission ™ + Partly extra. 3 Blus 4% in § o fock 4 BI PE 2 stock. Payable 1/10 share quar in iica Cloar Sloses sRBOD B -5 P B. F. SAUL CO. 925 15th St.—M. 2100 FINANCIALC." OFFICES For Lease In the Edmonds Building 917 15th St. Located In the center of the Fi- nancial and Realty Districts. Sev- eral desirable suites now available. Very low rentals ,SHANNON & LUCH SI 1435 K St. Main 2345 rest rates and com- K t replies to all ap- lications. We can’ assist you in refinancing Thos. E. Jarrell Co. Realtors 321 10th St. N.W. Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 Main 366 CLARK,CHILDS & COMPANY 120 Broadway New York, N. Y. WASHINGTON OFFICE 1508 H STREET NORTHWEST MEMBERS NEW YORK STOCK EXCHANGE NEW YORK COTTON EXCHANGE NEW YORK COFFEE EXCHANGE NEW YORK CURB MARKET NEW YORK PRODUCE EXCHANGE BOSTON STOCK EXCHANGE CHICAGO BOARD OF TRADE CHICAGO STOCK EXCHANGE " 5¢ Telephone Metropolitan ooay JAMES SLOAN, Jr.,, Manager Oldest National Bank in District of Columbia o National Metropolitan 114 Bal‘k 114 Years Years Old old 15th St. opp. U. S. Treasury Capital, Sur Profits, Over $2,000.000.00 Give Him a Savings Account fYou want that boy of yours to grow up in the right way—to know values —to be thrifty. fIn what better way can you help him along, than by giving him a Savings Account to build, for Christmas? {One Dollar or more will start a “Metropolitan” Savings Ac- count. 3% Paid on Savings You Are (ordially Invited to Come in and See Our Christmas Tree The Most Beautiful We Have E€ver Displayed Open Evenings Thursday and Friday Also Saturday Afternoon Christmas Carols will be rendered on the Victor Electrola through the courtesy of E. F. Droop & Sons Federal-American National Bank Where G Street Crosses 14th JOHN POOLE, President More Precious than Jewels Those who want their Christ- mas gifts to be lasting evidences of their kindly thoughts are wont to give diamonds, pearls and other precious gems. But we may suggest a gift as lasting, which, at the same time will bring memories of the giver twice a year. Many of our clients give one or more of our First Mortgage Notes to those whom they hold dear, for this gift is lasting, stable, and twice a year brings an emissary, in the form of an interest check, to renmew the greetings Christmas. of And the fact that these notes can be purchased in denomina- tions of $100, $500 and $1,000 makes them available for any purse. awaiting you. They are here, now, SWARTZELL, RHEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET N.w./ WASHINGTON D.C.