Evening Star Newspaper, December 27, 1928, Page 14

114 ¥ 3,000,000 BOND SSUE 1S PLANNED Express Agency Asks 1. C. C. for Approval—Large Sale in Railway Preferred. BY EDWARD C. STONE. y incorporated Raflway Ex- ress Agency today filed an application with the Interstate Commerce Commis- sion for authority of new common stock and $35.000,- 000 in debenture agency s echanism the raflroads set up for taking control of all the express business next March. The 1,000 shares of common stock would be di- vided up _among the railroads own- ing the agency. The bonds would be sold to meet the cost of t‘heh p;cp- erty which has been acquired in the big consolidation move, The outline of the plan was laid before the commission last week for approval Washington Gas Stock Higher. g yashington Gas Light stock move n];w(z 103’!(»:1 the Jocal hange today following a very light turnover. shares changed hands. W. Espey Albig. day was a ;flotk nix ington Railway & Which sold at 997,. Several other is< sues were quite active, including Co- Jumbia Sand & Gravel preferred. The bond market was neglected. Gas Light Earnings Increase. Earnings of the Washington Gas ‘Light Cng. for the 11-month period ended November 30 reached $556,733.74, a gain of $103,532.40 over the corre- sponding months of 1927, according to the report of operations filed by the company with the Public Utilities Com- ission yesterday. mThe seatcmcm for November showed net income of $62,968.18, a falling off of $5,883.56 under earnings for Novem- ber a year ago, but an increase of $36,- 817.42 over the $26,150.76 net income total reported for October this year. November operating revenue was $501,987.41, a gain of $26,537.21 over the same mouth a year ago, and oper- ating expenses were $343,159.51, as compared with $314,659.66 in Novem- ber, 1927. Taxes amounted to $39.060, and uncollectible bills, $2,604.63, leav- ing an- operating income of $117,163.27, as against $122,634.32 the same month last year. | Operating revenues for the 11 monthst ended November 30 aggregated $5,040,- 097.78, an increase of $183,477.85 over the corresponding period of last year, and operating expenses reached $3,- 408,964.45, as against $3,331,304.40 in the 1927 period. Taxes were $392,728.- 75, and uncollectible bills, $31,723.81. Operating income advanced $106,897.44 to $1,206,680.77 for the 11 months. Non-operating income was $41,928.16, and gross corporate income, $1,248,- 608.93. % Potomac Bank Raises Surplus. At a recent meeting of the directors of the Potomac Savings Bank, it was voted to increase the surplus fund from $75,000 to $100,000. This action gives the Potomac Bank $100,000 capital, $100,000 surplus and $50,000 in un- divided profits. The savings bank has paid its usual dividends and at the recent annual meeting steady growth during the last 12 months was reported. Albig Reports Huge Savings Gains. W. Espey Albig, deputy manager of the American Bankers' Association, re- ports that 1928 has seen the greatest gains in savings ever recorded in the United States, saving deposits standing above $28,400,000,000, with more than 53,000,000 individual savings investors. “The gain per inhabitant in 1928 over 1927 is $17. The gain per inhabitant over last year is 7.7 per cent, and 113.5 per cent over 1918, when the strong upward curve in savings deposits first developed. Since 1912, when adequate records first became available, the gain per inhabitant is 169.3 per cent,” he says. “Total individual deposits in banks in America stand at $51,199,264,000, and 6 per cent of these individual deposits found in savings or time deposits, as against 53 per cent last year. “The gain in number of savings de- positors comparable with last year is 2,496,070, an increase of 5.2 per cent, a5 against a gain in the population of the United States of 1.2 per cent. The draber of depositors, which for 1917 was veported at 48,354,784, reaches a high mark this year with 53,188,348.” Railroads Report on Earnings. Net income of the Baltimore & Ohio Railroad for November, announced at| noon today, amounted to $5,119,255, | comparéd with $2,737,183 in November, | 1927, an increase of $2,392,073. Net railway operating income for the( eleven months of the year totaled | $45,695,035, against '$43,640,717 in the; same period last year, a gain of $2,- 054.318 so far in 1928. Net operating income of the Seaboard Air Line Railway in November was $899,462, a marked increase over No- vember, 1927, when the net was $797,- 351. Net operating income for the first 11 months of this year was $3,047,901, against $9,831,741 in the same period of 1927, President W. J.. Harahan announces the net income of the Chesapeake & Ohio Railway for the 11 months ended November 30 amounted to $25,667,226. He predicted that the revenues for the month of December would bring the net income for 1928 to about $27,000,000 after all charges. Net income of the Chesapeake & Ohio in November was Electric preferred, Heard in Financial District. At the regular meeting of the board of directors of the Second National Bank, the usual semi-annual dividend of 3 per cent was declared and an ex- tra dividend of 1!, per cent was also voted. Both are payable Janu stockholders of re the president, Victor B. Deyber, an- nounces. Albert H. Fox, former president of the Columbia National Bank, and for years an outstanding fipure in the financial district, celebrated his 83d birthday a few days ago. He received many con- gratulations from friends in the bank- ing district Charles Delmar, regional vice presi- dent of the National Wimsett Co. in this territory, announces that an office is soon to be opened in Annapolis, backed by prominent men in the Mary- land Capital. Austin is president of the Washington Bank. Christmas trade, believed heavier than in any previous year by the Department of Commerce, and in other quarters, apparently has been carried on more largely through the use of checks and credit than ever before, for indications are that currency demands for this ason were smaller than in previous rs_excepting 1927 Money in circulation at the end of October and November, although larger in total than in 1927, was smaller than for several previous years other than 1927. If estimates that trade is larger are well founded, then credit business must be heavier, although the total of money in circulation alone trade -is-higher than last_year. 0 issue 1,000 shares ' | Can Pacific(10). indicates | Crueible St1(5). FINANCIAL,” Open. High. Low. Close. 404 42% 40% 41% 811 81% 844 110 110 110 331 334 Abitibi Power. .. Apitih Po pfif) Ab&Straus pf 7. | Adams Millis(2) | Adv Rumiley.... Adv Rumley pf. Ahumada Lead. . Air Redetn (13). Ajax Rubber. Aiaska Junea j Albany Papr( ! Allied Chem. ... 240% 246 Aliled Cm pf(7). 1224 1224 1 Allis-Chalm(7). 175% 189 1 Amal Leather... 104 10% Amal Leather pf 73% 73% Amerada(2).... 37% 384 Am Agricul Chm 22 22 20% 2% Am AgriChpf.. 713 71% 69% 70% Am Bank N(3). 1221, 120% 1224, 12915 |AmBKNpf(3).. 60 60 60 60 Am Beet Sugar. 17% 17% 17% 17% Am Bosch . 40% 423 39% 423 Am Br Sh(J1. 47 464 47 Am Brown Bov. 16% 15% 16 Am Brown Bo pf 50% 50% 50% Am Can (t4).... 107 110 105% 108% AmCar&Fdy(6). 94 94 93 93 Am Chain pf(7). Am Chicle (2).. Am Drug (60c). 10% Am EncauTil(3) 80% Am & For Pow.. 73 74 % Am&ForP pf(7). 106% 106% 105% 105% Am&For P2d7.. 96% 96% 96% 96% Am Hide& Lpf. 384 38% 38% 38% AmHome Pr(3). 76 176% 76 76% Am Ice (13) 41% 41% 40% 414 Am Internatl(2) 142% 147 Am LaFr&Foam T4 % 1% Am Locomot(8). 102% 103% 100% 10: A Machine (t5% 175 176% 175 176% Am Metals(3). . 617 61% Am Nat Gas pf 7 97 | Am Fiano pf.. 39 Am P&, 13, 815 Am Po&Lt A 21 [ Am ow pf(sia) 820 820 82 | AmMPO&Lt pf(6): 100% 100% 100 | Am Radiator() 187 239 245 2 124% 5% 189 104 10% 3% T3 37% 38 71 495, Y| Am Ry Ex6)... 133 Am Republics. .. Am Saf Raz.r3). 6 Am Seating(3).. 34 Am Ship & Com. 3% Am Smelting(8) 272 Am Smeltg new., Am S & R pf(7 Am Snuff (114).. Am Stl Fdys(3). 663 34 315 269 275 90 92 136 136 203 203 624 63% 203 3 6214 66 Am Sugar...... 83% 83 82l Am Sugar pf(7). 106 106 106 Am Sumat (n3). 544 54% 54 Am Tel&Ca(b). 17% 1% 17% Am Tel & Tel(9) 191% 191% 190 Am Tobac B(8), 1 175 174 AmWWE&EI(cl 68'5 68 Am Woolen. 27 26% Am Woolen pf. 591 57 Am Writ Pa ct: 124 12% Am Writ Pa 6 pt 42% 42 Am Zine. .. 41 37w Am Zinc pf.. 104% 105% 104% 105% Anaconda C (6). 110% 113 108% 113 Anchor Cap..... 50% 50% 50% 50% Anchor pf (6%2). 106% 106% 106% 106% Andes Copr'76c.. 48% 49!y 45% 49% Archer-Dan(3).. 101'%s 101%s 100% 100% Arch-Dan pf(7). 113'5 113% 113% 1131 Armour Del pf 7 90k 90% 90% 90% Armour IlI(A).. 15% 15% 15 15% Armour II(B).. % 8 % ™ Armour Il pf(7) 81% 81% 81%' 81% Arnold Con&Co 39% 39% 39% 39% Artloom(3)..... 29 29 29 29 Artloom pf(7).. 102 102 100% 100% AssoDryG(2%). 62% 63 624 62% Asso Oil(2). 43% 43% 43 43% Archison(10) 195% 195% 194 195 Atch T&S Fe 2% 2% 2% 2% Atchison pf(5).. 104 104 103% 103% Atl Coust L(110) 166 166 165% 166 Al Guif& WI.. 4 42% 42% 42% Atlantic Ref(1). 56% 61 567 61 Atlan Ref pf(7). 117% 117% 116% 116% AtlasPowder(4). 105% 110% 105% 10&% Atlas Tack. . 1% 12% 11% 12% Austn-Nichols. 6 6 6 6 Ausun-Nich pf.. 31% 31% 313% 31% Aus Cred(4.49) 6212 63 6215 63 Auto Sales...... 24 24 24 24 Auto Sales pf(3) 39 39 381 38l 245 245 Baldwin Loc(7). 245 245 Bald Loco pf(7). 116 116% 1156% 116% Bulto & O(6).... 1175% 119% 1173 119% Bambgr pf(6%). 109 109 108l 108% Bang & Arpf(7) 105 105 105 105 Bank of Com 120 750 750 750 750 Barker Bros(2). 30 30 30 30 Barnsda'l A (2). 40% 41 39 41 Bayuk Cgrs (2). 114ls 114% 11435 114% Beacon.Oil...... 224 22% 21% 21% Beecn-Nut (3).. 95 95 93 9 Belding-Hemwy. 12% 125 124 12% Best&Co(3).... 87 884 87 88y Behlehem Steel 823 843 82 84y Beth Steel pf(7) 1221 124% 124 124 Bloomingdale... 44% 44% 44% 44% Blumnthl pf(7). 113 113 Bon Ami A(4).. 82 81% Booth Fisheries. 87 874 Borden Milk(6). 168 Boston & Maine, 90 Botany Mills (A 15 Briggs MfgFCo. 53 54% 524 British Empire.. 4 4 3% BritishEmp2d.. 6% 6% 6% 6% Brockwy Mot(4) 69% 69% 68 69 BKlyn-Man(4).. 7l% 2% 71% 172 BKlynUnGas(5). 186 189% 185% 189% BrownShoe(23%) 46 46 46 46 Brunswick B(3) 481 48% 48 48% Brunswick Ter.. 37 38 36 38 Bucyrus(1)..... 36% 36% 35% 35% Bucyrusev(2l%) 45% d6% 45% 46 Burroughs(t4). 233 235 232 235 Bush Term(g2). 77% 71% 76% 1T% Bush Ter de(7).. 109% 109% 109% 109% Bush Ter p£(7). 115 115 115 115 ButteCop & Zinc 8% 8% 8% 8% Butte & Sup(2). 9% 9% 9% 9y Butterick Co Byer & Co... By-Prod (3%). Calif Pack(4). 821 106 54 17% 190% 75 174 6815 81% 5% 8% 182 185l 179% 185% 98 95 98 98 W% W 15 T Callahan Zin « 3% 3w 3 3 Calu & Ariz(17). 117% 119% 116 119 Calu&Hec (2%). 414 42% 41 42% CanDry (t4%). T9% 9% 79% 79% 234%3 2344 232 2341 Canon Mills2.80. 44 44 44 44 Caro Clin&O(4). 90 90 90 90 Case Threshg(8) 476 489 475 489 Cent AguirreAs, 39% 39% 9% 393 Cent Alloy(2).. 45% 45% 45 45' Cen Ry NJ(f12). 323 323 323 323 Cerrode Pas(5). 105% 107 104 106'5 Certajn-teed Pro 27% 27y " 28% Certo (14).. . 80 Chandler-Clev. 20% 20% 20 Chandler-Cl pf.. 36% 364 34% Ches & Ohio(10) 206 ~ 206% 2041 206% C&0 Corpn(3). 75 8% 15 Chi& Alton..... 1 1% | Chi & Alton pt. . 18% | Chi & East 1 pt Chi Great West., Cil Gt West pf.. Chi Ml & StP.. Chi Mil & StP pf Chi & Nwn(4%). Chi Pne Tocl(8) 160% Chi R1&Pac(6).. 129% CRI&PpI(7). 106% Chi Yel Cab(3).. 32% Chickasha(3)... 46 Childs(2.40).... b57% Chile Copper(3). 664 Chrysler(3) Y City St B5% stk 105% 105 Cluett-Peab(s). 71% 724 T1% 0 Coca-Cola(6). 169 169% 169 1690 Collias & Aikmn 5 e 4% Col Fuel & Iron. e 68 69 Col Gas & EI(5). 1329 129% 132 Col G&E pfA(6) 107107 107 Columbia Graph 4% T0% T4 Col Carbon(4).. 120% 118 120 Com Cred(1). 59 56% 584 Com Ci1stpt § 101% 1004 101% Com Cr pfi1%). 26 26 Com Cr pf B(2). Com Inv Tr(34). 125% {Com Inv (war).. 24 24 24 Comm Solv (j8). 221% 223 220% 223 ‘om Power(f3). 101 102 1001 100% Congoleum-Nair 26 27% 25% 2% Cong Cgrs (5).. 80 80% 79 Consol Cgrs (7). 981 98% ConCigprpf(63) Con Film pf(2). 1% 18% 60% 18% 444 325 53'% 87 854 163 160% 163 131 127% 129 1084 106% 106% 2% 824 324 46's 46 46 57% b6% 57 69 66% 69 129% 107 1% 120% ConsolGaspf (5) | ConRRCuba pf 6 Consol Textile. .. Container A 1.20 Container B 60e. Cont Baking A. Cont Baking B.. Cont Bak pf(8). Contl Can (n)... Cont Insur(6)... Contl Mot (80¢). Corn Pro(t33%). Coty, Inc (12%) 87% 1T 89% 3 B4% 85 83 CubaCaneSugar, 4% A% 4% Am Stl Fy p£(7). 110's 110% 110% 110% | . 40% 40% 39k 39%| THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Cuba Cane Su pf Cuba Company.. Cuba R R(4.80). Cuban Am S(1). Cuban Am pf(7) Cuban Dom Sug. Cudahy Pkg(4). Y Curtiss Aerot1). 141% 142% Cushmann pf(7) 126 126 Cutir-Ham(3%) 63 Cuyamel Fruit.. 60 Davison Chem.. 58 Debenhms(2.91) 37% Deere&Co pf(7). 124 Del & Hud(9). Del L & W(t7).. 125% Devoe A (+ . 66 Diamond M (p8) 154 Dome Mines(1). Drug Inci4). 5 Dul S S & Atlan. 3% Dunhill Int ($4). 8! Dupont (118% ). 481 Du Pont deb(6). 118 Dug Lt 1st(5)... 100 Fastman(t8)... 182% Eaton Axle (3).. 61 Eisenlohr&Bro.. 89 Eitingon(2l).. 36% Eitingn pf(6%). 109% Elec Auto-Lt4% 125% Electric Boat... 124 ElecPow&Lt(1). 461 ElecStoBat(f5).. 83% Elk Horn....... 6 Em Brantgm(A) Emmerson B pf. End-John(5).... Eng Pu Ser(m: Equit Bldg(2).. ErieRR. Erie 1st pf. 6 Eureka V(t%).. 45'3 Fairbanks(3)... 43% FairbankMpf(7) 110 FedLight(h1.40) 68% Federal M & Sm. 220 Fed Min pf(7).. 100% Fed MotT(f80c). 19% Fidelity-Phoenx 102 First NatS(1%). 67% Fisk Rubber.... Fisk Rub 1st pf. Fleischman {3 % Florsheim (A) Folansbee (2). Foundation Co. Fox Film A(4).. Freeport (16%). Gabriel Snub A.. Gardner Motor.. Gen Am Tnk(4). Gen Asphalt.... % Gen Asph pf(5). 113 Gen Cable...... K Gen Cable A(4) Gen Cigars(4).. GenCigars pf(7) 116 Gen Eelectric t6. 206 GenElec sp(6ic) 1% Gen G&EIA(12). 65 Gen Mills (3) 83l Gen Mills pf 995 Gen Motors t9% 192 Gen Mot (New). 77% Gen Mot pf(7).. 125% GenOutdrAd(2). 33% Gen Outdr Ad(4) 52 Gen Ry Sig(5).. 99% Gen Refrac(3).. 75 Gillette S R(e5). 1 Gimbel Bros. Gimbl Br pf(7 89 Glidden (11%).. 354% Glidden pr pf(7) 103% Gobel (Adolph). 49 Gold Dust (5)... 137 Gold Dust (new) 68% Goodrich(4).... 98% Goodrich pf(7).. 113 Goodyear Tire.. 129% Goodyr 1st pf(7) 103% Gotham(32%).. 179 Gothamn v 32% % Gould Coupler A 7 Graham-Paige.. 49% Grhm-Paigecfs. 44 Granby (6)..... 86% Grand F&W (1). 86 Grand Unon.... 30% Grand Un pf(3). 53 Grant W T (1).. 115% Grt North pf(5). 110 Gt Nor pf cfs(5) 107 Gt NoOrefs2%. 27 Grt Wn Sug 2.80. 35% Greene Cana(6) 170% Guantanamo Su. 5 Guan Sug pf(8). 90 Gulf Stat Sti(4). 65% Hacknsk W(1%) 26% Hanna 1st pt. 92 Hartman A(2).. 26 Hartmn B(1.20). 31% HavEl Ry pf(6). 56 HawanPinap 12. 62% HAersney Corp. 654 Hershey pf(4).. 824 HogkingVal(10) 417 Hollander & Son 20% Homestake(17). Household(t4) Houston Oil. Howe Sound ( Hud Man(2%).. Hudson Mot(5). Hupp Mot(£2).. 16% 16% 22 80 16% 93% 5% 100% 182% 16 47% 53% 115% 110 27 824 417 20% 5% Ind O & Gas (2). Indian Mot (1).. Indian Refining. Inland S(k16%). Inspiration((3). InterboroRapTr. InterconRubber. Internat Agri,.. 15% Int Ag Ch pf(7). 841 Intl Bus Ma (¢5) 1534 Int Cement(4).. 921 Int Com Enge2 65% Int Comb pt(7). 1084 Int Harvstr 10. 370 Int Harv t2%... 91% Int Harv pf(7).. 142% Int Mtch pf 3.20. 96% Int Mer Marine. 5% Int Mer Mar pf.. 39% Int Nickl efs(3) 250% Int'Nickl of Can. 424 lut Paper(2.40). 58 Int Paper pf (7). 92% Int Pa§PoA2.40. 20% Int Papr& PoB. 17 IntPapr&PoC. 11% Int Pa&Po pf(7) 89% Int Prig lok 2% Int Ry Cent Am Intl Salt(5). Int Silver... Int Te: & Tel(6) Int Tel & Tel rts Intertype(tile). Jewel Tea (rts. Johus-Manv(3). Jones & Lau(7). Jordan Motor. . . Jordan Mot (rts) K C Po&LtB(6). Kan City South. Kaufmn DS 1%. Kayser J (5) 824 Keith-Albee. 391 Keith-Al pf(7).. 117 Kelly-Spring. 28% Kelly Tire 6%pf. 97% Kelly Tire 8%pt 914 Keis Hayes(2).. ddly Kelvinator Corp. 15% Kennecott (8)... 1451, | Kinney pf(8)... 92 | Kolster Radio... 69% Kraft (1%). 865 | Kraft (rights) 1 Kresge(11.60).. 84% Kresge Dept S.. 28% Kress SH(h13%) 114 Kreuger & Toll. 36% Kroger Gro(el). 117% Lago Of1 . 30% Lambert 129% Lee Tire & Rub. 2% Leh Por Cmt 2% 55% Lehigh PC pf(7) 105 LehighVal(3%). 94 Lehn & Fink(3). 62% LifeSav(1.60).. 384 LIg&Myrs Bt6 9l% Lima Locomtve. 46% Liq Carb( t414). 101% Inc (13). 62% 33 32 28% 181 121 112 BT% 29% Lortilard Co. . Loritlard pf(7). Loulsiana Oil. ... Louis GasA 1.75. Louls & Nash(7) 145 Ludlum Sti(2).. 77% LudlumStl(rts). % McAndrews 2.60 48 Me Call Corp(4). 176 McCrory A(2) 100% McCrory B(2) 101% 101% 15% 224 100% 182% 60 89 36% 109% 124% 12% 45% 26% ITllinols Cen(7).. 140% 140% 140% la 4% 4 % 100% 100 W [ ' Open. High. Low. Close. 16 22% 80 | McKes&Ro 1.60. McKsn pf A 3% Mack Truck(6). 15% | Macy Co (2).... 93% 5% 621y 141% 126 63 60 57% 3% 122 188 100% 182% 109% 107% 264% Mad Sq Gar 1%. Magma Cop (4). Man Elec Suply. Man El m2g(d5) Man Shirt(2)... Maracalibo Oil... Market Street. Market St prior Market St pf. Market St 2d pf. Marlan Oil Marlin-Roc t3% . Marmon Mot (4). Martin-Parry. .. Mathieson pf(7) May Dept S(4).. Maytag (12). Maytag pf3 Melviile Shoe(1) Menjzel Co. Mexican Seal Miam) Cop(1). Mid-Continent. . Middle States. .. Mid States ctfs.. M St P&SSM pf. Mo Kan & Tex. . Mo K&Tex pf(7) Missour! Pacific. Mo Pacific p£(5) Mohwk Car 2% . Montggm Ward. Mont Ward(rts) Moon Motor.... Mors&Esk(313). Mother L (40¢c). Motion Pic Corp. Motor Meter A.. Motor Prod(2).. Motor Whi(t2 Mullins Mfg..... Mullins pf (7).. Munsingwi (3). Murray Corp. . Nash Motrs(16). Nash & Chat(7). Nat Acme(sta).. Nat Bellas Hess. Natl Riscult(+7) Nat Bisc pf(7).. Nat Cash Reg t4 Nat Cash Rrts.. Nat Dairy ($3) Nat Dept Store: Nat D St 1st(7). Nat Distillers. .. Nat Enamlg (1). Nat Lead(5).... Nat Pow&Lt(1). Nat Radiator... Nat Ry Mex 2 Nat Supply (18). NatSupply pf(7) D. C, THURSDAY, DECEMBER 27, 1928. 5614 0 9915 1917, Nat Tea(4)..... 33 Nevada Cop (2). N Y Alr Br(3)... N ¥ Central(8).. N Y C & StL(6). N Y Dock.oouuus NYNH&Hart(4) N Y Ont&Westn. N Y Stm pf(6).. N Y Stm pfA(7). Norf & Wn(110) NorAm b10%stk North Am pf(3). NorAm Ed pf(7) No Germn Lloyd Nortn Pae(5)... Nor Paccfs(5). Norwalk Tire... Of1 Well Supply. Oil Well Spf.... Omnibus. ...... Orpheum pf(8).. Otis Elevatr 18, Otis Steel...... Owens Bot (c4). Pac Coast 2d pf. Pucific 8(2). . Pac Lightg (3). Pacific Mills. ... Pac Oii Stubs. .. Pac Tel & Tel(7) Packard M 15%. Pan-Am Petrolm Pan-Amer Pet B Pan-Am Wn B. . Paramount-F-L Park & T11(13).. Park Utah(80c). Pathe Ex....... Pathe Ex(A)... Patino M(2.92). Peerless Motor. Penick & Ford.. Penn C&Coke. .. Penn Dixie Cmt. Penn R R(33%). Pere Marq(18).. Pere M prior(5). Pet Milk (134).. Phila Co (17)... Phila& RC& 1. Phil Morris(1).. Phillips Pet (2). o Phoenix Hoslery 139% 191% 4% 29% 16 PLoenix pf(7).. Pierce-Arrow Plerce-Arrow pi Pierce Ofl. . Pierce Ofl pf. Plerce Petrolm. . Pillsbury (12,10) Pitts Coal. . . Pitts Coal p PittsFtW pf(7). Pitts Term Coal. Pitts&WVva(6).. POrtoRicoTobB. Postal T&C pf 7. Postum(3)..... Prairie Oll&Gas. Pressed St Car. Produ & Refinrs. Prophylactic t4. Pub SerNJ 12.40 Pub Serv pf(6).. Pub S NJ pf(7). Pub SE&G pf(6) Pullman Co(4).. Punta Aleg Sug. Pure Uil (1). Purity Bak(3). . Purity Bak(rts) PurityBak pf(6) Radio Corp..... Radjo-Keith(A) ReadingRy (4). Real Stik Hos Reis(R)& Co. .. Rels 1st pf(7 Remingtn-Raud. Rem-Rd 18t(7).. Rem-Rd 2d(8). . Reo Mot (11.70). Rep1&S(4). Rep 1 & S pf(7). Rep Ir & St(rts) 190 | Reyrolds Spngs. 121 13 % 112 BT% 29% B3 3% n7 28% 97% 91 a4 15% | Rey Tob B 161 . RhineWE(1.92). Richfield O1l(2). Rossfa Ins 1615, Royal Bak Pow. . Royal D(a3.222). Royal Dtch(rts) Rutland pf..... Safeway pt (6).. Safeway pf (7).. SUL & Sank'(18) . Nk pf6) 1180 | StL Swn pr(5) . 925 il 86 76 101% 101 Savage Arms(2 Schulte (j3%).. Schulte pf(8). Seab Air Line. Seab Air L pf Seagrave(el.20). Sears-Roe(32%) Seneca Copper. . Shatiuck FG(2). Shell Un(1.40). Shell Un (rts).. Shubert The(5). Simmons Co(3). SimmsPet(1.60) Sinclatr Oil Skelly Of1(2 Sioss-Shef (6). Snider Packg C Snider Pkg pf... SoPoRic S t2% Soutin Por pf(8). South Calif Ed.. South Dairies A. | South Dairies B. South Pact6). Scuth Ry(8).... SouRyM&O cfs 4 Spang Chalfnt.. StAG&E (3%). Std G & E pf(4). Std Milling (6). . Std Millg pf(6). StJOS Leaa T5).. A% McKeesptTinRl 71% 71% 71 7T1% StaOofCal(t3) 71 1 % 112% 190% 171% 97 54% STOCK PRICES GAIN| IN FINAL TRADING Market Rallies Toward End of Day, Despite High Money Rate. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 27.—In the face of a 12 per cent rate for call money on the Stock Exchange and loans commanding 15 per cent in the unofficial ®utside market, stocks closed strong. The forenoon was a period of heavy‘ selling and almost uniform losses, but in the second half of the session the market rallied in impressive fashion. The best prices were made in the last hour. Goodrich Rubber went to a new high at 105, up 6 points on the day. Air Reduction sold at a new top for the present shares, up about as much. Whether it was the belief that the money stringency was temporary or whether it was confidence in the char- acter of the buying, the market in the afternoon was just as indifferent to the money situation as it had been sensitive in the morning. General Electric Feature. Right at the close, Goodyear Tire & Rubber touched 140, up 10 points, and | at a new peak. | General Electric was the feature. It| reacted when the market was weak, | but on the recovery it ran up to 212, the highest price at which the present stock has ever sold. American Can was another strong issue, and Air Re- duction went to a new top. Johns- Manville advanced 7 points as it touch- | ed 188. Erie and Baltimore & Ohio were strong all day. Money renewed at 10 per cent. Short- ly after noon the official rate was raised to 12 per cent, equaling the pre- vious high for the year. For a time in the outside market loans were said to have been arranged at 13 per cent. General Motors was forced down some four points in the first two hours cof trading with the new stock showing a corresponding loss. Chrysler lost two points in the same time and Hudson, Hupp, and Nash sold off sympathetically. Packard in- creased the lcss of the day before. The approach of the automobile show, during which ths motor stocks are generally well supported, was not a factor today. Copper stocks were weak. Greene Cananea dropped four points and Anaconda sold at the lowest since the dividend action was announced. Under 109 it was over seven points from its recent high. Among the steels, Re- public gave way easily, while United Stales Steel made a new low on the Qpen. . Low. Close. 530 53 b3 43% 43% 42 StdOIINJ(t1%). StdO:INY (1.60). StdSanPro(1.68) 46% 46% Stantey Co 397 397% Stewart-War(6) 119% 117% Studetaker(5).. 4% Submarine Boat. 34 Sun Ofl (g1). 66 Superior U1l 9% Swperior Ste 3T Sweet of Am(1) 19% Symington Cl A. 12% Telautogh(8ve) . Tenn Copper(1). Texas Corpn(3). Texas Corpn rts TexasGulfSul(4) Tex Pac C & Oil. Tex Ld Tr(new) The Fair(2.40).. Third Avenue. .. Thomp J R(3.60) Tidewater AsOil TIWASOIIpf(6) TidewatrO(80c) Timken R B(6). Tobae Prod (8). Transcont Oil. .. Trico Prod(21) Truscon (£1.20) . Twin CityRT (4) Twin City pf(7). Undwd-El F (4) Un Bag & Paper. Union Carb(6).. Un O1l Cal\2)... Union Pac(10).. Un Pacific pf(4) Utd Cigar St(1). Utd Cgr St pt(6) Utd Elec Coal Utd Fruit(15%). Utd Paperboard. US Cast Ir P(2). S CIP 1st 1.20. US CIP 2d 1.20,. U S Distributing U 8 Distrib pf(7) U S Hoffman(4). U S Alcohol(5).. Leather-. ... Leathr A(4) ) tub ISt pt. . Smelt(3%). Sm&Ref rts. Sm pf(3%). U S Steei(7).... U S Steel pf(7). Univ Pipe & Rad Util P&L Ate2). Vanadium (14). Van Raalte..... Vick Chem(4). .. Victor Talkg(4), Vietor pr pf(7).. Va-Caro Chem. . Vir-CarCh pf(6) Vivaudou Co. Vulean Detin Wabash... Wabash pf A(5). Waldorf(13a). .. Walworth(1.20). Ward Cl A(8). . Ward Baking B. Warner Bros Pic Warner Bros pf. Warner-Quiz2). . Warrn Bros (15) Warren F&Pipe Web & Hell. . Wesson Ofl (4). W Penn El pf(7) West P Po(6). .. West P Po pf(7) West DairyA(4) West Dairy B West Maryland. West Md 2d pf.. West Pacific. West Pacific pf. West Union(§) Westhse A B(2). Westinghse(4).. Westhse 1st(4). Weston Eleettic. Weston A(2) White Eagle(2), White Mot(1)... White Sew Mach White SM pf(4). Wilcox Oil & G.. Willys Ov ¢1.20. Willys-Ovd pt 7. Wilson & Co.... Wilson Co pf A. Wilson & Co pf. Woolworth(5).. Worthn Pump. . Wright Aero(2). Wrigey ((13%). Yale&Twne(t5). Yellow Truck... 33% Young Spring.. 52% 5 5214 Youngstn Sh(5). 103 103% 103 Hourly Sales on N. ¥. Market. 10:30 am.. 411,300 12m 1,377,900 1:30 p.m. 2,199,800 2:15 2,692,200 Diyidend rates the above tai are the annual ci ayments pased on th: half-vearly decla: 62% 624 3T an % in stoc) § Piur | el E; r:‘Pllu- 'l/ga n A:Pn'c‘i ) ron ar rate. b P fock: o Pius 5% in siock 8 ‘e Payable ‘stock, atock. 1 3. in movement. Vanadium suffered with the others while Crucible stood out with a gain of a point or so. Realizing came into the stocks which had been prominent on the up side in the preceding session. General Electric and Westinghouse came down sharply from their highs. The rubber stocks were lower, but not as much as might have been expected considering the large advance they have enjoyed. Good- year at 127 was down only 2% points on the day and still 7 points up from where it closed Saturday. Loan Rates Raised. A few stocks stood out against the trend. Erie was one of them, taken in large blocks around the 70 level. Balti- more & Ohio was another, up on the day above 118, responding to the re- markable November earnings statement. Marine preferred was in good demand. perhaps in connection with the report that the recapitalization plan had been revived with chances of success. Air Reduction was a comparatively firm issue. One lot of 5.700 shares changed hands at 91, off only fractionally, after which the price advanced. The Vir- ginia Carolina Chemical issues did well. Money renewed at 10 per cent. The banks called $20,000,000 in loans before noon. The last time the renewal was as high as today was on December 7, just before the big break. A few minutes after 12 o'clock the rate for new loans was raised to 12 per cent. 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 Paid up Cash Capital. $500.000 erclal National Bank Blds. bl 1 ! COMPLETE FINANCING | 1st & 2nd TRUST MONEY On homes, apartment buildings and business properties. No apprai- sal fee. Prompt service. Real Estate Mortgage & Guaranty Corp. 24 Jackson Place Main 1403 FINANCIAL. CLARK,CHILDS & COMPANY 120 Broadway New York, N. Y. WASHINGTON OFFICE 1508 H STREET NORTHWEST NEW YORK STOCK EXCHANGE NEW YORK COTTON EXCHANGE NEW YORK COFFEE EXCHANGE NEW YORK CURB: MARKET NEW YQRK PRODUCE EXCHANGE BOSTON STOCK EXCHANGE CHICAGO BOARD OF TRADE CHICAGO STOCK BXCHANGE Telephone Metropolitan 5020 JAMES SLOAN, Jr, Manager SAFE FIRS'T MORTGAGES YOU CAN FIGURE INCOME TO THE DOLLAR —uwhen your money is invested in our 69 FIRST MORTGAGES —and can count on the interest payments to the day. There is no fluctuation—but 6% straight through to ma- turity. A Third of a Century Without a Offered in ameunts from $25 Loss up. F. SAUL CO. 925 15th St. N.W. B. Main 2100 THERE IS NO SUBSTITUTE FOR SAFETY TONIGHT—WRC—10PM also 25 additional stations associated with the ~ You are cordially invited to listen to an address by M. Crais B. Hazlewood President of the American Bankers Association who appears as guest speaker on the HALSEY, STUART & CO. RADIO PROGRAM Mzr. Hazlewood’s subject will be “The Need for an Investment Progra.m by Individuals, Corporations and Banks” Over 100 Cities Service sub- sidiaries are engaged in the production and sale of neces- ities of modern life in 33 states and in Canada, Mexico and Europe. The security of your money does not depend on conditions in any one in- dustry or any one locality. HENRY L. DOHERTY & CO. W.S. 635 Southern Bldg.. Washington. Send me booklet “TPO~11 ing the investment possibilities Cities Service Securities. Name..... Address......... Your House on the Hill UILDING financial independence is not unlike building a home. 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