Evening Star Newspaper, December 23, 1928, Page 33

FINANCIAL. BOND SUMMARY FOR - TELEPHONE NET UP DURING NOVEMBER Low. 10214 100 23 10330 102 28 U, 8. BO! Liberty 3%s 1933-41. High. Low, 101 26 989 Liberty 1st 43451933-47. . 103 15 100 10412 103 13 1032 1008 110 6 116 Washington Loan Stock at i New Peak; Clearings Lower. Dividends Declared. By EDWARD C. STONE. The report of operations of the Chesapeake & Potomac Telephone Co. Just filed with the Public Utilities Com- mission shows that operating revenues for the month of November were $678,- 677. Operating expenses were $483,999, making net revenues for the month $194,678 and net income after all de- ductions of $131,556. Telephone operating revenues for the 11 months ending November 30 were $7,228,825. Operating expenses were $5,093,948, making net revenues for the 11-month period $2,134,877. Taxes assignable to operations for the month of November were $38,856. ‘Taxes for the 11 months amounted to $512,104, an increase of 2.9 per cent over th2 same period in 1927. Plant and equipment added to the telephone system in the Ditsrict of Columbia for the first 11 months of 1928 involved expenditudes of $2,290,- 207. Retirements during this period were, $1,340,732, making net additions for first 11 months of this year $949,475. At the close of business, November 30 there were 149,501 telephones con- nected with the central offices serving the District of Columbia, an increase of 5916 since January 1. Comparison of earnings for the month of November this year and the corresponding period a year ago fol- lows: Nov., 1928 678,617 483,999 $194,678 38,857 $165.821 892 $160713 3,495 $157.218 25,662 Ne $646,195 65,998 Net operating revenue: Waxes Recienable o oera- tions . 49.12¢ Jotal orerating revenues tal operating ' expen: and uncollectable ... Operating_income Won-operating incoms Gross income ts and mi ductions . Wmterest deductions Net income ‘The board of governors of the Wash- ington Stock Exchange voted yesterday to close. the exchange on Monday and Y. During the Saturday session 10 shares of Washington Loan & Trust Co. stock sold at 523, an advance of 8 points over the last sale. Riggs National figured in a fractional share sale at 547. Capital Traction moved at 105%, Potomac Electric 5'5 per cent preferred at 108l and Wi n Railway & Electric preferred at 99%. The largest wolume of trading was in Mergenthaler, which closed at 1043%. 'Chestnut Farms Dairy common changed hands at 195. In the bond division, Gas 6s, series A, sold at 103%, while a $1,000 and two $500 B bonds changed hands at 106%. ‘Transactions totaling $10,000 in Wash- ington Railway & Electric 4s took place at 91!5, and $4,000 at 91%;. In the unlisted department Raleigh Hotel Co. stock sold at 817 and 83. Latest Local Dividends. The directors of the Liberty National Bank, at_their Priday meeting, declared the usual semi-annual dividend of $3.50 per share, payable December 31 to stock of record on December 22. The books are not to be closed. At a meeting of the board of directors of the Lincoln Investment Corporation, held at the offices of the company in the American Building, it was voted that the regular quarterly dividend of 11; per cent on. preferred stock out- standing as of December 28 be paid to stockholders of record. An initial dividend of 25 cents per share was weted on the common stock. The divi- t=an in the 3 a substantial gain over the correspond- ing period of last year, according to the Pepartment of Commerce. Volume of money turnover, as indicated by check payments, was greater than in either prior period. Petroleum output during the last-reported week .showed gains over both the previous week and the eorresponding period of last year. Lum- ber output snowed a decline from last year. Bituminous coal produ the other hand, showed gains over both the previous week and the correspond- ing week of 1927. General index of .wholesale prices ction, on |1 110 105% 105% 103% 105% 102% 105% 102% 107% 99% 116% 105 109% 105 96 96 99% 92% 102 98% 34% 21 94 89 108% 105% 102% 98% 97 8T 9% 915 104% 98% 101% 93% 108% 104 116 111 126% 106% 106% 102% 94 89% 107 104% 105 9T 102% 97 106 103% 106% 102% 99% 94% 107% 108% 9T% 924 105 97T 103% 100% 107 95 105% 103% 116% 106% 218% 103% 93% 88% 96 86% 103% 100% 106% 96% 107 102% 102% 984 105% 1015 108% 104% 103 101% 105% 103% 108 102% 96% 107% 117% 114% 102% 98% 110 107% 108 100 104% 99% 106% 101% 106% 102 98% 98 9% 96 102% 97% 101 99% 104% 101% " 96% 88 106% 103 109% 106% 102% 97% 114 111 102% 974% . 101% 101 8% 92% 00 93% 99 93% 98% 920 107% 101% 101% 95% 99% 4% 69% showed a further fractional recession the preceding week, but was still ‘hat higher than & year ago. ‘Why Christmas Clubs Are Popular. On the very wide appeal of the -Christmas club the American Banker remarks: “Thogz Wwho have had Christmas eome 3pon them when their funds were a little bit short and have felt mean because they had not been able to buy presents for their families and friends such as they desired, readily appreciated the idea of saving throughout the year s0 that they could be sure to have ample funds to do what they wished when Christmas came. “From time to time there has been some discussion by bankers of the value of such temporary thrift as the Christ- mas club; some people have said that this was not real thrift, but was simply the teaching of saving for future spend- . However, aside from any amount of funds that may go into & permanent account, the Christmas clubs have been & great benefit to the country. The fact ¢hat thousands of people have, through & regualr program of thrift, enabled themselves to have the funds to buy the Christmas presents they desire, not only adds materially to the general happiness of the country, but is another important step in establishing our high standard of living.” Bank Clearings Somewhat Lower. Bank clearings in United States for week ended December 20, as reported | to Bradstreet's aggregated $13,990,- 675,000, against $14,296,962,000 last week and $12,109,651,000 in this week last year. This week’s total shows a decrease of 2.1 per cent from last week, but a gain of 155 per cent over the like week a year ago. Canadian clear- ings aggregated $379,489,000, against $384,024,000 last week and $392,340,- 000 In this week last year. ‘Washington bank clearings for the week ended December 20 totaled $31,- 075,000 against $33,163,000 for the pre- vious week. Clearings were, however, 10.3 per cent ahead of the clearings for the corresponding week in 1927. Richmond reported clearings of $53,- 882,000 against $50,471,000 for the pre- vious week and a slight increase over the same week last year. Baltimore re- ted a good gain over the previous week but a decline of 6 per cent over the corresponding week a year ago. “While results are not conclusive the Nationa! City Bank of New York has wxpericuced remarkable success in oper- ating its personal loan department dur- ing the past six months” says Trust Companies’ Magazine. “An average of 500 customers and applicants are han- dled daily, and the amount of business handled has exceeded all expectations. “Indications are that losses in han- dling small loans ranging from $50 to $1,000 will be less at the end of the first year's operation than the average of one-quarter of 1 per cent as calcu- Jated on the basis of all small loan borrowings throughout the country un- der similar operation. “While the National City Bank was not the first to inaugurate a loan de- partment for small borrowers as an es- cape from usurious practice, this step by the country’s largest bank has stim- ulated other banks throughout the country to provide such commendable facilities.” 114 111% 89 T4 96 82% 97% 95 102% 97% 118% 116% 93% 88% 106% 102% . 108% 102% 110% 108 100% 96% 9 89% 91% 85% £8% 99% 100% 87 109% 106% 116% 114% 1015 94 114 108 115% 113% 93% 84 102% 98 1024 96% 9% 5% 99% 96% 981 83% 92% 90 96% 92 80 3% 108 9% 99% 9Th 99% 92% 104 98 103 97% 93 86% 109% 964 106% 101 83 T4% 108% 974 111% 105% 105 106% 107% 104% 107h 104% gl €9Y% 116% 106% B0% 114 ol T8 994 92% 3% 65% 98 91k 111 103% 116% 111 100 98% 9a% B6% 106 99% 114% 106% 113% 111% 104 98 89 B4 99 4% 97 92% 93% B4k 95% 92% 69% 107% 108% 88 764 101 984 694 64 U S3%s1940-43 10310 989 US3%s1943-47, 116 6 109 30 U S 4348 1947-62 W. & FO! 100% 99 Argentine, Jun 1! 101% 99 Argentina 6s A-1967. 99 94% Australia 551965.. 104% 102 101% 98% Belgium 1%6 114% Belgium 7%s 1946, leaux 65 1934. 99% 93 Brazil 6%s 1926-57. 113% 105 Brazil 8s 1941. 108% 102% Canada 5s 1963 102% 99% Canada 5%s 19! 40 25'% Chinese Govt Ry 58 1961, 101 94 Copenhagen 5s 1952. 112 108 Czechoslovakia 8s 1951 106% 103% 105% 103 105% 102% 110 105% 119% 112 107% 104% 97% 9% 100% 96 105% 100 30% 20% 95% 894 109 104 102% 98% 54..... small 1904. Milan 6%8 1952. Netherlands 68 1973. Norway 6% Parts-Lyon Med 65 1958...0 106% 1034% 101% 94% 104% 101% 105% 101% 5 100% 98 Toho Elec Pwr 7: 106% 103 Utd Kingdom 5%s 193’ 100 94 _ Yokohama 6s 61. INDUSTRIAL AND 106% 104 Ater Agri Chemical 73%s 194 102% 99% Amer Smelt & Ref lst b5 1947, 106 102% Amer Sugar Reftining 6s 1937 100 98% Amer T Tel ol tr 929. 109 103% American Tel . 93% 83 Amer Writing 106% 104 Anaconda Copper 188 110% Anaconda Copper ov deb Andes Copper 7s 1943 103% 9% Atlantic Refining deb & 156% 99% Barnsdall Corporation 109% 104 Bell Tel (Pa) ref 68 19 103 99 Bethlehem Steel p m 105% 102% Bethlehem Steel s £ 88 19 97% 93% Chile Copper 58 (1947 83% 74 Cons Coai (Md) lst ref 97 6% Cuba Cane Sug cv 106% Detroit Edison ref 109% 86% Dodge 68 1940... 105% 79 Eastern Cuban Sug 7% 104% 101% General Motors 6s 1937 108% 101 102% 93% Inter Paper b8 A 1947.. 98'% 92% International Tel and Tel 148 105% Kayser Julius5%s 1947. 110% 106% Kelly-Springfleid 8s 1931 105% 99 Lackawanna Steel 5s 1950, 106 10:% Laclede5%s. 105% 99% Liggett & Myers 58 195 109% 91 Manati Sugar s f1%s 1943 102% 98% MidvaleSteel 5s 1938. . 111% 1056% New England Tel 55 1953 113% N Y Edison 18t 6% 1941 104 100% Northern States Power 5: 104% 100% Pactfic Gas & Elec 63 1943. 108 102 Pacific Tel & Tel 58 1953. 108 102% Pan-American 6s34... 101% 97 Philadelphia Company &s 1967 974 93 Postal Teleg & Cable 5s (1933) 177 116 Public Service 43%s 1948, 100% 97% Sinclair Oti 6s 1930 104% 100 Sinclair O1l 7s 1937 99% 96% Sinclair Crude Oil 6%s 1938 104 102 Standard Oil N J 68 107% 99% Transcontinental Ofl 6%s '38 100% 95 United Drug 58 1953.... 96% 85 US Hubber ist & ref 105% 100% U S Rubber 7s 1930. 109% 106 U S Steei s f b8 103% 98% Utah Power & Ligl 112% 108% Western Union Tel 6 105 100 Wilson & Co lat 8s 101 99% Youngstown Steel 55 19 RAILROAD. 99 91% Atchison L' &S Fe gen 48 199 98 101 106 91% Balto & O 1st gold ¢s 19 964 Balto & Ohio ov ¢ %8 1933 Balto & Ohlo ref 68 1996. 97% 91 B&OPittsLE& W V, 107% 101% B & O Southivestern i 100% 964 Hrookiyn Mauhat s f'6s A | 102% 96}« Canadian National 4%s 1957. 92 85% Janadian Pacific deb 96's 8u% Central Pacific 48 1949.. 100% 96% Chesapeake Corpn s wl 101% 97 Chesapeal 105 97% Chesapeal 108% 96% Chicago Bur & Quincy 4%s 77 110% 104'> Chi B & Quincy lst ret 58 1971 93 #3% Chi & Bastern LIV gen 58 1961 72% 66 Chi fireat Waestern ¢ 98% 924 Chi MStP&P5s'7 9% 61% Chi M StP & P adj 5s 114% 107% Chi & Northwest 88 78% Chicago Rallwuy! 96% 93% Chi R | & Pacific 931 84% Chi& Western Ind cob 4s 1962 105% 100% Clev Cin Chi & St Louis 6s D, 103 100 CCC&StLref6sa 19 110% 104% Cleveland Terminal 5% 954 Colorado & Southern 4%s 1936, 26% Cuba R R 68 1963..... 93% Cuba Northern 5%s 1943 88 0 4o 1931 87 83% Erie 1st con ¢ 7% Erie gen lien 80% Eriecvis A 93 Erieref is 1967, 91k 76% Kis KCbsTe.. 109% 105 Grand Trunk s £ deb 6s 1936. 115% 111% Great Northern gen s 1936. 95% 83 103% Lilinots Central 4%s 66 igh. Low. 99381 ¥98 1009 1002 100 4 100 17 1003 100 7 9815 987 988 9819 9818 9819 111 ll'lll 11 Prev. week’ . Close. weseeses 100% 100% 106 4106 101% 101% 1084 104% 97% 97% 3 101 101 9% 9% 94% 95 128 130 110 99 104% 100 97 9% 106% 114% 991 166% 1004 98% 91 AtlanticCoast Line ist 4s 1963, .. Hudson & Manhattan ad1 6s 1967 Hudson & Maahattan ref 68 1967 . 96% Inter Rapid Transit ov 7s 1933... inter & Great Nor ad) §s 1953 Int Rwys of Cent Am 6348 1947, 92 KanC Kt Scott & M 45 1938 73 Kansas City Southern 3s 1 91% Kansas City Southern 58 1960, 9( Lake Shore 4s 1931. . 93% Louis & Nasb unified 48 1940, 9ute Ml Klec Ry & Lt ist ref 5561, 99% MStP&SSMiKs 1981, % 84% Mo Kan & Tex Is 109% 101% Mo Kan & Tex ad) 106% 99 Mo Kan & Tex prin bs A 1962. £3% 764 Missouri Pacific gen 48 1976 102% 93 Mlssourl Pacific 68 F'.. 110% 104'4 New York Cent ret imp 63 3013 109% 100% New York Centrai deb 6 1935. 107% 105 N Y Chi& StLref 5348 A 'T4. N Y Chi & St L ref 538 B'76. 84 New Haven deb 4s 1907 .. 118% 111% N Y N H & H avdeb 65 1948. 32 13% N Y Ry 6s1965..... 92 £3% N Y West & Boston 4%s 194 98% 847 721 64m Northern Pacific 8s 2047 97% 59 Northern Pacific 48 199 109% 1034 Northern Pacific 2047 116% 111 Northern Pacitio ref tmp 88 2047 100 98 OreShort Line re 94 56% Ore-Wash Ist ref 4 104% 57 Pennsylvania gen 43s 1966, 114% 104% Pennsylv: 113% 108% Pennsylv 104% 98 Readin 90% 3% Rio O 94 RLATk & L 4%81934... ©2% SULIM&SREQ 48 19 % Kbk 3t L & San Fran or In 4¢ & 196 87% St Louis San Fr 4%s'18 Yo% St L & Sal ran ine 8s | 914 StP K CS Line s4s 1941, 57% Seaboard Alr 85 a1 91 Southern Pacifio cef 4s I 93 85% Southern Ry gep ¢s 117% 106 South Ry ist b 117% Southern Ry 101% 97 Western Pacifio 58 934 84% West Shore lat és 236! 8% THE- SUNDAY STAR, WASHINGTON, D. C, DECEMBER 23, 1928—_PART 2. . THE WEEK | @ OMETERS OF WASHINGTON BUSINESS CHECK TRANSACTIONS Month January February March April May June July August September October 1922, $77,278,302 67,181,309 82,015,621 79,109,460 87,287,163 89,314,301 11,859,567 15,871,932 79,009,479 88,128,010 85,886,042 91,550,330 November December 91, 1923. $94,226,703 WASHINGTON CLEARING HOUSE 1925. $109,562,618 93,021,370 110,920,979 112,360,952 115,205,665 124,366,758 122,575,468 101,429,229 105,318,309 116,844,670 117,857,183 123,724,889 1924. $99,846,145 88,455,424 93,035,755 96,340,577 98,587,918 103,703,090 97,988,3! ,384 ,234,378 111,728,231 $112,853 440 1927. 1928. ° $117,074,963 $114,408,832 90,026,075 103,348,052 103,495,524 120,498,787 121,510,442 4 115,978,408 124,139,370 118,968,666 120,850,495 128,361,071 127,516,336 121,511,514 108,600,949 104912119 103,580,305 105,608,791 104,579,350 119,632824 116,851,774 118,066,587 114,264,134 127,262,714 123,581,252 1926. 126,930,689 114,273,668 107,049,844 113,117,412 137,660,603 122,706,244 Total $980,491,620 1922-23 299,807.70 281,365.26 304,733.56 331,521.39 348,685.49 495,443 44 $349,643.41 323,234.37 389,845.64 391,823.26 328,974.00 297,790.64 1921-22 255,451.98 285,873.69 280,815.19 332,526.55 324,865.38 460,318.41 $300,376.66 304,100.97 337,208.95 304,678.98 317,944.17 301,392.46 Month July August September October November December January February March April May June $1,102,158,974 $1,167,398,426 $1,353,278,002 * $1,392,580,951 POSTAL RECEIPTS Reported by Fiscal Years 1923-24 1024-25 1925-26 317,581.74 314,171.01 361,177.16 288,450.08 325,707.10 330,063.11 287,922.33 356,610.99 313,122.67 404,421.01 469,513.11 477,321.63 390,539.16 394,496.62 446,018.56 518,909.50 551,324.73 627,252.88 $389,948.61 $387,730.52 $438,573.00 363,399.96 357,128.69 407,873.78 430,375.66 414,944.87 498,067.48 412,258.66 428,539.15 485,013.24 378,964.63 384,923.20 426,834.06 337,259.78 3173,644.07 422,098.21 $1,385,807,426 1928-29 $391,428.44 2,757.49 469,250, 545,649.13 494,103.07 1927-28 388,568.16 397,809.26 476,465.09 506,969.09 511,040.11 687,795.65 $473,473.51 466,626.95 5217,486.19 506,543.44 470,110.35 447,480.35 1926-27 380,996. 686,869.38 $452,798.09 460,256.72 521,939.24 498,290.44 434,724.00 426,669.19 $3,805,551.39 M‘,MZ,!“JG $4,520,081.21 $4,758,734.06 $5,294,315.78 $5,729,296.27 $5,860,378.15 KILOWATT HOUR OUTPUT FOR DISTRICT 2 19! 10,506,616 192! 9,245,117 8,498,778 8,185,374 8,713,657 9,248,369 10,362,425 10,123,252 9,604,352 9,949,798 9,112,869 9,387,181 9,891,660 11,0! 10,957,601 11,290,753 10,284,223 10,680,731 POTOMAC ELECTRIC POWER CO, 23 1924 1925 11,124,071 12,925,647 10,819,661 12,289,072 10,623,588 11,990,809 10,611,230 13,005,484 11,217,227 12,924,002 11,842,940 14,150,728 12,176,571 13,883,518 12,221,674 13,966,085 11,607,167 14,630,733 11,047,503 13,421,422 11,345,775 13,887,687 52,499 12,183,608 14,55 ,861 1927 17,036,730 16,154,758 16,275,840 16,266,198 16,413,356 16,740,188 16,427,149 16,330,080 16,293,226 16,796,510 18,131,429 19,030,145 1926 15,049,208 14,570,549 14,038,461 13,980,862 15,081,528 15,157,253 15,248,254 15,576,137 15,515,505 15,713,113 15,861,946 16,442,705 1928 18,655,125 18,479,857 18,472,095 18,031,834 18,852,464 19,484,101 19,555,847 19,470,453 19,710,347 19,286,368 20,256,623 TELEPHONE SERVICE IN DISTRICT CHESAPEAKE & POTOMAC TELEPHONE CO. Month January February March April May June July August September . October November December 99,999 101,179 1922 363,453 383,265 315,129 380,158 398,901 382,843 334,728 315,014 339,743 371,813 390,736 398,674 Month January February March April May June* July* August* September October November December 102,032 102,909 103,627 104,309 104,832 104,754 104,841 105,016 105,771 107,130 108,102 108,846 Number of Telephones in Service 1923 1924 1925 109,599 116,944 110,569 118,563 110,938 119,601 111,629 120,422 120,732 120,532 120,759 121,230 122,739 124,152 125,360 115,767 126,501 1928 144,036 144,757 145.279 145,657 145,962 1927 136,506 137,285 137,992 138,281 138,468 138,457 138,563 138,730 140,177 142,039 143,196 143,585 1926 127,411 Average Originating Local Calls Per Day 1923 1925 405,837 442,483 431,490 448,179 523,131 542,059 *Seasonal decrease due to vacation period. SALES INDEX OF DEPARTMENT STORES DISTRICT OF COLUMBIA Average Monthly Sales 1923=100 586,784 Wholesale Market Yesterday's daily market report on fruits and vegetables compiled by the Market News Service Bureau of Agri- cultural Economics said: ‘Apples—Supplies moderate; demand light, market steady; barrels, Virginia, U. S. No. 1, 2% inches up, Staymans, 450; unclassified Staymans, 2} inches up, 4.50; boxes, Washington, medium to large size, extra fancy, Delicious, 3.25; Romes, 2.50; Staymans, 2.50a2.75; Jonathans, 2.00a2.25; bushel baskets, Virginia and Pennsylvania, U. 8. No. 1, 215 inches up, best, 1.50; poorer, 1.35; Staymans, 1.50; U. S. No. 1, 2% inches up, mostly around 1.75. cubhlae—sugpllel light; demand moderate, market steady, New York, Danish type, 90-pound sacks, 2.25a2.40; 100-pound sacks, 2.5¢a2.65; South Caro- lina, barrel crates, pointed type, 4.00: some fair quality, 3.50. celery—Sutnnes liberal; demand light, market slightly weaker; Cali- fornia, crates, 6.00a6.50. Lettuce—Western stock; supplies moderate; demand moderate, market steady; Arizona, crates, Iceberg lv&e 4-5 dozen, 3.7584.00; few fancy, 4.50; Southern stocks; supplies light; demand light, market dull; Florida, 1%;-bushel hampers, big Boston type, fair to ordi- nary quality, 75a1.25; few, 1.50. Onions——sl:jlp“u light; demand light, market slightly weaker; Michigan and Ohio, 100-pound sacks, yellows, U. 8. No. 1, medium to large size, 4.7585.00; some medium size, 4.50. Potatoes—Supplies liberal; demand moderate, market about steady; Michi- gan, 150-pound Russet Rurals, U. 8. No. 1, 2.0082.25; Idaho, 100-pourd sacks, Russet Burbanks, U. 8. No. 1, 2.25a2.50; 50-pound sacks Russet Bur- | PO banks, U. 8. No. 1, 2.35; New York, d Whites, U. 8. 5. Eg&nuh — Supplies light; demand moderate, market firm; Virginia, Nor- folk section, bushel baskets, Savoy type, 851.00; homegrowns, bushel baskets, Savoy type, mostly 1.00. String beans—Supplies liberal; not cleaned up; demand limited, market weaker; Florida, 7%-bushel hampers, green, Refugees and stringless, 3.75a4.00. Peppers—Supplies moderate; demand moderate, market steady; Florida, pep- per crates, fancy, 10.00a11.50. Squash—sSupplies limited; demand moderate, market about steady; Florida, pepper crates, fancy, 6.00a6.50. ‘Cucumbers—Practically no supplies mz;mufi':-r-kse" lie: light; de upplies very ; de- mmgp light, market steady; Fiorida, pepper crates, small to very small size, 5.0086.00; few medium size, 7.00. Poas—Supplies light; demand light, market steady; California, 40-pound crates, 6.00; few 6.5J. Tomatoes—Supplies limited; demand moderate, market steady; Florida, sixes, ripes, wrapped, fancy count, 5.0086.00; choice count, 3.5085.00, according to condition; repacked in Baltimore, un- known origin, sixes, fancy count, 6.00a 6.50; choice ccunt, 5.00a5.50. Strawberries—Supplies light; demand moderate, market steady; Florida, pony refrigerators, Missionarys, 1.00a1.25 per uart. Caulifiower—Supplies light; no edrly sales reported. Beets—Supplies light; demand light, market steady; Texas, crates, 5.00. Carrots—Supplies light; demand light, market steady; California, Western let- tuce crates, bunched, 3.50. Oranges—Supplies moderate; demand , market firm; Florida, Xes, medium size, No, 1, 4.00a4.50; few Retail business of the Washington department stores reached the highest figure in October of any since last December, according to the index figure for the month computed by the local district unit of the Federal Reserve Board. The index figure for October was 145.7, or 39.5 points higher the preceding month, 106.2. The increase also was much greater than from Sep- tember to October last year when the figures rose from 101.0 to 130.6. The index for October this year was 15.1 points above that for October, 1927. 'The figure for November as yet has not been computed. The local retail sales index for October also is well above that for the whole fifth district of the Federal Re- serve Board, 124.7, and for the whole country, 123.1. The estimated index for the w] at 122.2. Bank clearings in Washington for November reached the highest figure on record here—$122,706,244. It was $8,442,- 110 higher than the total for November, 1927. The past month's figure brought the total clearings for this year to date to $1,305,744,189, as compared with the total for the same period of 1927 of $1,262,316,174. The total for the past month, how- 14,954,449 lower than the total of $137,660,603 for October, the October total being customarily higher than November. Postal receipts in Washington in November were $494,103.07, or $51,546.06 lower than the total of $545,649.13 re- rted in October. The figure also was $16,937.04 below the total of $511,040.11 for November, 1927. An increase in the electric power busi- ness was shown last month. The num- ber of kilowatt hours sold in the District by the Potomac Electric Power Co. in November was 20,256,623, as compared with 19,286,368 in October, an increase of 970,255. The past month's figure also was an increase of 2,125,194 hours over }?9\;700&!1 of 18,131,429 sold in November, ever, wi Reports by the Chesapeake & Potomac Telephone Co. show that there 121 more calls made day, on an average, last month than in October. ‘The November total was 598,216 and the October total 571,495. The figure for last month also was 8,299 higher than the total of 589,917 for November, 1927. ‘The number of telephones in use in the District in November was 149501, as compared with 148,608 in October, an increase of 993. The number of phones in use here last month was 6,305 more ?91;;1 the total of 143,196 for November, Buys Drug - Store Chain. NEW YORK, December 22 (#)- Walgreen Co. of Chicago announced to- day ruxchm of the Goldsmith chain of 12 drug stores in Indianapolis and Shelbyville, Ind. The Gol ith name will be retained at least temporarily. fancy high as 5.00; No. 2, 3.00a3.5( few 4.00; small size, No. 1, 3.00a3.5 No. 2, 2.50a3.00. Grapefruit—Supplies light; demand moderate, market firm; Florida, boxes, No. 1, medium to large size, 3.75a4.00; small size, 3.00a3.50; No. 2, all sizes, 2.75a3.50, ole country for November is fixed (18 I Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., December 22.— The Christmas market on live turkeys cleaned up pretty well, but owing to the warm weather the early part of the week values failed to advance, and prices generally this week on turkeys were about 5 cents a pound under last year. Receipts, while liberal, were not in excess of the demand, which, due to the lower prices, was larger than last year, but 42 cents a pound was the highest price for dressed poultry, while last year choice to fancy stock brought as high as 48 cents a pound. Due to the milder weather buyers turned largely to live turkeys for the Christmas supply, but, should the pres- ent cold snap continue, liberal ments of turkeys are advisal for the New Year trade. Shipments should be timed to reach here not than Saturday, and nothing be shipped to arrive Monday, December 31, as all' outlets will be closed. Choice to fancy dressed young turkeys closed today at 40 to 42 cents a pound; fair to good, 36 to 38, and old toms, 33 to 35. But poor birds, as well as crooked breasts, are generally neglected at 25. Choice young chick- ens are bringing 27 to 30 and old mixed. 24 to 27, while choice to. fancy ducks and geese, which have been in good demand, bring 25 to 30 cents. Live Poultry Active. The live poultry market -has been more active than the dressed try market the past week and cl today at 37 to 40 for young turkeys 9 pounds and over, 35 and 36 for old hens and 32 and 33 for old toms. Mixed colored chickens are bringing 27 to 30, but Leghorns will not bring over 25, and all fowl under 2'2 pounds is neglected at 20. Heavy fat old hens 35 pounds and over in fair demand at 20 to 27, but lighter fowl as well as old roosters move slow at 17 and 18. Market for ducks and geese holds steady under moderate receipts and a fair demand for large fat stock at 24 to 26 for the former and 22 to 26 for the latter, but all poor thin fowl moves slow at 20. Guinea fowl and pigeons in fair de- mand at 40 to 80 each for the former and 30 a pair for both young and old of the latter. The egg market has shown little change the past week under only mod- erate receipts, but a better demand is noted under the lower prices prevailing and all offering of desirable fresh Jth- ered stock meets with ready at full values, with choice hennery white eggs bringing a premium of 2 to 3 cents a dozen over quotations. The market closed today at 4 cents a dozen for firsts in free cases and 38 cents for current receipts. But small unde pullet eggs will not wring over 33 to 35. Garden Truck. Receipts of white potatoes from all sections have heen runni light the past week and under a fairly good de- mand the market holds steady, bu: Dl‘lfleflm show little change from last week. For well-graded round stock there is 8 good movement at 1.10 to 1.25 per 100 pounds, but McCormicks and reds will not over 90 to 1.10, while with ungra stock it is more a ques- tion of a buyer than price, and culls as well as No, 2s are not wanted, Sweet potatoes and yams in more liberal re- ceipt and the market rules easy with prices in buyers’ favor at 2.00 to 2.50 a barrel for the former and 2.25 to 275 a barrel for the latter, but it takes chofce clean stock to bring these FINANCIAL. prices as all dark dirty and mud-caked stock will not bring over 75 to 1.50 and No. 2s and are not wanted at any price. Demand for native and garden truck continues good, but centered on first quality stock at the following quota- tions: Beets, 4.00to 6.00 100; broccoll, 65 to 85 bushel; carrots, 4.00 to 6.00 100; kale, 50 to 60 bushel; onions, 150 to 4.00 per 100 pounds; oyster plants, 6.00 to 8.00 100; parsnips, 50 to 60 basket; savoy cabbage, 50 to 90 bushel; spin- ach, 50 to 75 bushel, and turnips, 25 to 35 basket. The live cattle market continues quiet, with no snap to the demand, which Is usual at this time of the year, and little improvement in de- mand is looked for until after New Year. Receipts continue light on the wharves and at the stock yards, but ample for the demand, which is cen- tered entirely on first quality stock, all common to ordinary cattle moving slow at inside prices. Choice lambs, how- ever, are in good demand, but it takes desirable stock to bring top values. Quotations today at Light Street Wharf: Beef cattle, first quality, pound, 12 to 12%; common to medium, 8 to 11. Bulls, as to quality, 7 to 9. Cows, choice to fancy, 8 to 9; common to fair, 5 to 7. Oxen, as to quality, 6 to 8. Calves, veal, choice, 15%;; large fat, 13 to 15; large rough, 10 to 12; thin, 9'to 10; rough and common, 7 to 8. Sheep, choice, 5 to 6. Old bucks, 3 to 4. Lambs, choice, 13 to 14; fair to good, 11 to 12; common, thin, 8 to 9. Hogs, straight, 8%, to 83. Sows, 7 to 8. Live pigs, 10 to 11. Shoats, 8 to 9. Closing grain quotations: Wheat—No. 2, red Winter, garlicky, spot, 1.3012; De- cember delivery, 1.30)5; corn, No. 2 ex- port, December delivery, 97%:; No. 2 yellow domestic, spot, 99a1.00; cob corn, 4.75a4.85 per barrel; Oats, No. 2, white domestic, spot, 58a58';; No. 3, white domestic, spot, 56a57; rye, near- by, 1.10a1.20. i, COTTON MARKET ACTIVE. NEW YORK, December 22 (Spe- cial). —While the approaching holiday and first notice day on January 1, with the reopening of the exchange Wednes- day, tended to restrict outside business, today's cotton market was quite active under heavy swapping operations be- tween the various months. Considering the conflicting interests, prices held steady within a range of 10 points and ended with a gain of about 10 points on the day. Spots were advanced 10 points to 20.50. GRAIN CHANGES SMALL. CHICAGO, December 22 (Special).— It was a holiday market in grain to- day, with trade exceptionally light and price changes narrow. In wheat the close was % to 33 lower and for the week 13 to 1 off; December, 1.15 to 1.15%4; March, 1.18 to 1.18%; May, 1.21Y; to 1.213. Corn closed unchanged to !5 higher ;?flhe for the week unchanged to 3 igher. Oats closed unchanged to % her and for the Week b to 3 lower. v Provisions were easy in tone. Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission. In Nearby Virginia 5% 1S, Commonwealth Investment Co. 917 15th St. N.W. Phone Main 2623 I WILL SELL .l-m filll % 1933 @ 9. Avt. Nat. Bank @ 430. 200 Units Real Est age Units Real te Mortcase & 50 Units Wa -n;-' Mortsage & 3% pfe 100 Washin 50 Great THOMAS L. HUME 1412 G St. Main 1346 Telephone Metropolitan 302 WE FINANCE —all classes of Income-producing property Large Loans a Specialty Current interest rate and commission. Higbie & Richardsen, Inc. 816 15th St. N.W. First Mortgage and | Construction Loan Applications Invited at 5Y2% Glover & Flather 1508 H St. N.W. Main 1753 Loans to Salaried People “Character Plus Earning Ability Our Basis of Credit” REASONABLE = RATE! OV Y AT WASHINGTON WIMSETT COMPANY 903 N. Y. Ave,, 2nd Floor. Let us have your applications “LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks for itself. Percy H. Russell Co. 1731 K St. N.W. Money Available for FIRST DEED OF TRUST LOANS On Completed Properties and for Conastrvstion Use Reasonable Interest and Commission Rates JAMES F. SHEA 643 Louisiana Ave. N.W. Aviation Stocks new industry in the mak- ich of these aviation stocks LEHMAN'’S TIRE SHOP 12th & KNW. s {3, 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 JAMES SLOAN, Jr., Manager SAFE E FR.ST an A Third of a Century Without a Loss up. B. Main 2100 THERE FROM WORRY That is the important thing in investment—and makes our 69 FIRST MORTGAGE loans sp attractive. amply secured and you may. be sure the interest will be in your hands on the date it is due. Offered in amounts from $250 F. SAUL CO. IS NO SUBSTITUTE FOR ' SAFETY MORTGAGES IMMUNITY is what They are 925 15th St. N.W.