Evening Star Newspaper, December 31, 1928, Page 12

12 7 FINANCIAL. THE 'EVENING STAR; WASHINGTON. D. -C., MONDAY, DECEMBER 31, 1928 Money to Loan Secured by first decd of trust on real estate Prevailing interest and commission. Let us have your applications “LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 years speaks for itself. Percy H. Russeil Co. 1731 K St. N.W. First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Mertgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutnal Ben 1520 K Street Life Ins. Co Main 475 Money Available for FIRST DEED OF TRUST LOANS On Completed Properties and for Construction Use Reasonable Interest and Commission Rates JAMES F. SHEA 643 Louisiana Ave. N.W. Buck & Company BROKERS Established 1916 Stocks Bonds Grain Cotton Write or call for weekly market b No obligations BUCK AND COMPANY Evans Bldg. 1420 New York Ave. Franklin 7300 te! TSSOSO Second Trust Notes We will buy your Second Trust Note if desirably secured on im- proved property in the District of Columbia. Prompt Attention to Applications National Mortgage & Investment Corporation 1004 Vermont Ave. NW. Main 5833 What Could You Ask? If you want safety for your invested funds (and ¥ E an N on fes-simple properties in Washington and its suburbs, Our $3.400.000 re- Sources assure prompt payment of interest and principal. Denominations from $250 up. Monthly pay- ments if desired. Along the lines of in- vestment safety what more could you ask?, anguire for our book- let “The Success Plan.” - REALESTATE MORTEAGE & GUARANTY CorPORATION Capital Resources § 3,400.000 24 JACKSON PLACE Public Service Corporation of New Jersey Dividend No. 86 on Com- mon Stock Dividend No. 40 on 8% Cumulative Preferred Stock Dividend No. 24 on 7% Cumulative Preferred Stock Dividend No. 2 on_§5.00 Cumulative Preferred Stock The Board of Directors of Public Service Corporation of New Jersey has declared divi- dends at the rate of 8% per annum on the 8% Cumulative Preferred Stock, being $2.00 per share; at the r: 79, per annum on the 7% Cumalative Preferred Stock, being $1.75 per $5.00 per annum on the non tive Preferred Stock, being 1.25 per share; and 50 cents per share on the non ar value Common Stock for the quarter ending december 31, 1928. An extra dividend of 40 «'on the Common Stock was also declared. All dividends are payable December 31,1928, 10 stockholders of record at the close of usiness December 7, 1928. Dividends on 6% Cumulative Preferred Stock are payable on the last day of each month. T.W. Van Middiesworth, Treasurer. Pablic Service Electric and Gas Company Dividend No. 18 on 7% Cumulative Preferred Stock Dividend No. 16 on 6% Cumulative Preferred Stock The Board of Directors of Public Service Electricand Gzs Company has declared the regu- Jar quarterly dividend on the 79 and 6% Pre- ferred Stock of that Company. Dividends are payable December 31, 1928, to stockholders of record at the close of Lusiness December 7, 1928. T.W. Van Middlesworth, Treasurer. ; Y | tween November 15 and December 15 |of $1,392,580,951.65. | November this year amounted to $122,- BUSIAES OUTLOK ;Head of D. C. Stock Ex- | change Discusses New ! Year Prospect. | | | I DY EDWARD C. STONE. 1 | _George O. Walson, president of the Washington Stock Exchange, today pre- jdicted an excellent business year | in 1929. Glancing back over 1928, Mr. Walson called attention to the record amount of business transacted on the exchange during the past 12 months. It has | been the largest for many years and hr,mv gratifying in every way to the officials ve taken ring the yea nt issues have been added to the list. The in en steady, espe on said th: 1 of bu; ng the a in Wash- I has no | | factor in secu n. Bu, | been on a ss on the 1ge wvestment ba: taking place. of the 3 P i the belief that nditions / will prevail in 1929. Eeveral more list- | ings are in prospect, which will natural- 1y increase the business to be transacted. In the event of a merger of the local traction lines, Mr. Walson continued, there is the possibility of a new security {on the local exchange which is very likely to enjoy exceptional popularity. | After Congress, the Public Utilities Com- | mission, the directors of the two com- panies and the stockholders have passed on the conditions of a merger any new | security put out would no doubt have | such a high standing that trading in | it would be very heavy. Rediscounts Decline. ‘The volume of rediscounts for mem- ber banks held by the Federal Re- serve Bank of Richmond declined | from $42,436,000 to $39.886,000 be- this year, according to the monthly review of business and _agricultural conditions issued by the Federal Re- serve Bank here. | The decline was termed a seasonal decrease due to the liquidation of agri- cultural indebtedness. The need of the season for additional currency to han- dle the holiday trade. raised the cir- culation of Federal reserve notes from $79,566,000 at the middle of November to $86,849,000 at the middle of De- cember, a more marked increase than occurs in most years, it was said. The total earning assets of the Fed- eral Reserve Bank of Richmond were lowered by the decrease in rediscounts for member banks during the past month from $71,700,000 to $69,577,000. Member banks increased their reserve deposits from $63.206,000 on Novem- ber 15 to $70,675,000 on December 15. 1928 Clearings Shatter Record. It was learned at noon today that Washington bank clearings during 1928 had shattered all previous records. Charles E. Bright, manager of the Washington Clearing House Association, reported that December clearings to- eraledthsug.g“u.nz.n. m;king clearings | for the full year reach the 31.435,725.602.0%4 g This compares with a total for 1927 of $1,385,897,426.85 and clearings in 1926 Clearings for De- cember of last year were far beiow the figures announced today, being $123,- 581,252.27. Clearings in the month of 706,244.81. | Comparisons by months of the clear- ings in 1928 and 1927 are given as follows: January 1027, Gaans rTi0s March H 104, 1168517 i November 11426813 ember . 20,981,412 12351 Totals -$1,435,725,602 $1,385.897. ‘The figures revcal a gain in clearings over last year'’s total amounting to $49,828,176. Trading Light on Exchange. ‘The old year rang out on the local | Stock Exchange today with quiet | trading. Capital Traction sold ex- dividend at 106, Potomac Electric Power 5% per cent preferred at 108%, Commercial National Co. preferred at }82] and Merganthaler Linotype at . Ten shares of Liberty National Bank stock changed hands at 255 and a single | share of Federal-American National at | 336. A single share of Departmental | Bank stock also appeared in the un- listed stocks at 61%. The bond trading as confined to Washington Gas Light 5s, a $1,000 and a $500 bond selling at 103 and an- other $1,000 denomination at 1027%. Dividend Being Paid Today. ‘The Terminal Refrigerating & Ware- housing Corporation is paying today a | semi-annual dividend of 3 per cent on its _outstanding common stock. ‘The Washington Stock Exchange, all the banks and all the brokerage houses will be closed tomorrow, New Year day. A host of local corporations were mailing out dividend checks today and as many more are payable January 2. TEXTILE INDUSTRY HAS BRIGHT OUTLOOK| £: clal Dispatch to The Star. NEW YORK, December 31.—The cot-, ton textile industry long in the throes | of depression, will start out”the New Year with a far brighter prospect, of success than at any time in three yeas This is due chiefly to the psychologi cal attitude of the men in the indu: try, although there has been a decid improvement in sales in the last six months, They realize as John S. Lawrence, former president of the New England council, recentiy said, that great eco- nomic changes have taken place and the textile industry must adjust itself accordingly. He added that the most important” factor in modern business |is good management, and the textile | plants are determined that they will | have good management in the coming jear. i Full cognizance will undoubtedly be taken of thz improvement in Europcan conditicns, especially in great Britian and Germany. ‘There has been a ked increase in the purchases of s, shirts and underwear in Central | Furope. This has put the cotton tex- tile industries of England and Germa: in a better position. additional competition for the Ameri- can ufacturcrs, and it also will probably mean higher priced raw cot- ton, since world consumption in the season 1928-29 will surely be exceed- 5 0 4 4 2 WALSON SFES G000/ NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. there had | 1 City St B5% stk 109% 109% 108% 109 y It will mean | Open. High. Low. Close. Abitibi Power... 41'% 4l 41 41 Abranm&Strans 127 142 121 Ab&Straus pf 7. 111% 111% 111 Adams Millis(2) 33 3% 3 Adv Rumley.... 48 Adv Rumley pf. Ahumada Lead. . Alr Redctn (13). Ajax Rubber. Aiaska Junea. .. Albany Papr(2). Allied Chem Alited Cm pf Allis-Chalm(7). { Amal Leather. | Amerada(2).... 99 10% 102 10% 84 8w 8 23% 24 23% 2484 251% 218% 250 . 121% 1213 121% 121% 190 191 190 190% 104 10% 10 10 3R 89% 381 39 |Am Agricul Chm 20% 21% 20% 21% |Am AgriChpf.. 71 72% 170% 412 A Bank N(3). 12616 126! 126 126 {Am Bk N pf(3).. 60% 604 60% 60% Am Beet Sugar. 164 167 Am Bosch...... 4% 41t Am Br Sh(j1.60) 48 48 Am Brown Bov. 16% Am Brown Bo pf 54% Am Ca | amcaraF Am Chicle (2).. | Am Drug (60¢). | uTil(3) 290 290 ¢ I 5y 83 B! ForP pf(7) P2d7. Am Ilide & L pf. Am Tlome Pr(3) 106 06t Fr&Foam 3 | Am Locomot(8). 108% 111 108% 108 | Am Loco pf(7).. 1121 113 112!: 113 1837 177 183% 110 110 pfew 7. 110 Am Metals(3).. 62 Am Metals pf6) 11 Am Na Am Flano p: Am P& L (f1 254 AmP&Lpfsta5. 81% 82% 81% AmPo&Lt pf(6): 100% 100 100% 10 Am Radlator(3) 186 186 18 Am Republics... 6 63% 62 6! Am Saf Raz(r2) 6 6 3 Am Seating(3)., Am Ship & Com. Am Smelting(8) 292 Am Smelig new. 9 Am SU Fdys(3). 67 Am Sugar... 87 Am Sugar pf(7). 106% 106 Am Sumat (n3). 56% 59 Am Tel &Ca(5). 17% 17T Am Tel & Tel(9) 192% 193 Am Tobaceo(8).. 177 177 Am Tobac B(8). 178 178 AmWWS&EIl(cl). 69% Am Woolen. 2 Am Woolen p Am Writ Pa ctfs Am Writ Pa 6 pf Am Zinc. . Am Zine pf. Anaconda C (6). Anchor Cap. Anchor pf (615). 110 Andes Copr 75¢.. 52% Archer-Dan(3).. 102 Armour Del p£ 7. 91% Armour IlI(A).. 18% Armour II(B).. 10 Armour 111 pf(7) 824 £31 821 ' 834 Arnoid Con & Co 39% 39% 39% 39% Artloom(3) . 28l 28 *284 28y Artioom pf(7).. 101 101 100% 100} Art Metal(13). 29% 29% 29% 29% AssoDryG(2%). 66 68% 66 67 Asso D G 1st(6). 103 108 103 Ass0 0i1(2). 43% 43% 434 43% Archison(10)... 195% 196% 195% 196% Atch T&S Ferts % 2 2% Atchison pf(5).. 103% 103%s 1031 10315 Atl Coast L(110) 168 168 168 168 Atl Gulf pt(3).. 54% 55% b4 55% Atlantic Ref(1). 64% 66l 63% 66 Atlan Ref pf(7). 116 116 116 116 AtlasPowder(4). 112% 113% 111% 112 Atlas Pow pf(6). 106 106 106 106 Austin-Nichols.. 6 7 6 17 Ausun-Nich pf. 367 Aus Cred (4.49) 6215 6214 AutoSales...... 25 25% 25 254 Autostrap A(3). 44 44 44 44 Balto & O(6).... 120% 121% 120% 121% Balto&Opf(4). 80 & 80 50 Bang & Ar(3%). Barker Bros(2). 1917 1927% 176 176 177% 177% 69% 26% 5815 137% 42 42 % “ e 105 Y 1164 119% 54% 52 54% 11 1% nt 58% 52% 53% 102% 101% 102 92 9% 9% 18% 17% 17 10% 9% 9% i 66 65'% 66 29% 29% 29% 29% Barnet Leather.' 25 25 24k 24% Barnsdall A (2). 40% 42% 40% 42% 654 Aero(1). am(3%) Davison Chgm. . Debenhms(2.91) Del & Hud(9)... Del L & W(7).. Detroit Ed(8)... Dome Mines(1 Drug Incc4). Dunhill Int ($4). Dupont (118%). Rastman(18). .. aton Axle (3).. isenlohr&Bro. . Bitingon(2%4). Elec Auto-Lt4% Llectric Boat. .. Gleclow&Lt(1). Elec P&Lt nf17) ElecStoBat(f5). Em BrantgmtA) End-John(5). ... Eng Pu Ser(m1) Eng Pu S pf(5). Equit Bldg(2) E irbanks Co pf. ed MotT (f80¢) . I Fidelity. s | First NatSc1%) | Fisk Rubber.... Folansbee Foundation Fox Film A(4) Freeport (16%4). Gabriel Snub A.. Gardner Motor.. Gen Am Tnk(4). Gen Asphalt Gen Cable. Gen Cable A(4). Gen Clgars(4). . Gen Eeleetric 16. GenElee sp(60c) Gen Mills (3)... Gen Motors 1975 Gen Mot (New). Gen Mot pf(7).. GenOutdrAd (2). Gen Ry Sig(5) Gen Refrac(3) Gillette S R(eb). Gimbel Bros. Gimbl Br pf(7).. Glidden (11%).. Gobel (Adolph). Gold Dust (5)... Gold Dust (new) Goodrich(4) . Goodrich pf(7) Goodyear Tire. . Goodyr 1st pf(7) Gotham($234).. Gould Coupler A Granby (6)..... Graham-Paige. . Grhm-Paige efs. Grand Unon. ... Grand Un pf(3). Grant W T (1).. Grt North pf(5). Gt Nor pf cfs(5) Gt NoOrefs 2%. Grt Wn Sug 2.80 Grt Wn Su pf(7) Greene Cana(6) Guantanamo Su. Gulf Mo & Nor. . Gulf Stat Stl(4). Hartman A(2).. Hartmn B(1.20). Hershey Corp Hershey pf(4 Hoe& CoA.... Hollnd Fur 2% Household(14).. Houston Oil. ... Howe Sound (), Hud Man(2%).. Hud Man pf(5).. Hudson Mot(5). Hupp Mot(£2).. Itlinois Cen(7).. Ind O & Gas (2). Indian Mot (1).. Indian Refining. Bayuk 1st pf(7). 103% 103% 1031 1031 Beacon Oil. . 21% 21% 22 Beecn-Nut (3).. 98 98% 96 96 Belding-Hemwy 13 14 124 14 Belg NRpf(16). 84l 841 8416 84% Best&Co(3).... 91k 91% 90% 91 Be'hlehem Steel 854 88% 85 874 Beth Steel pf(7) 123% 124 1231 124 Bimingdle pf(7) 110 110 110 110 Bon Ami A(4).. 84 83 81 Booth Fisherie 10% 9% 10% Booth Fish 1st.., 62u 60 624 Borden Milk(6) . 182 180 182 Botany Mills (A} 1% 4% 14% Briggs MfgFCo. 57 60% 57 59% Brockwy Mot(4) 69% 71l 69% 71 Brockway pf(7). 138% 138% 138% 138% Bkiyn £disn(8), 325 825 325 325 Bkiyn-Man(4).. 70 71% 70 70% BklynUnGas(5). 182 185% 182 1854 BrownShoe(2%) 46 464 46° 464 Brunswick R(3) 51% 51 Brunswick Ter.. 38 3 38 Bucyrus(1). 36% 37T 36 3Th Bucyrus ev(2 46% 46T 464 46 Burns BrosA(8) 120% 121% 120 121% BurnsBros pf(7) 105 105 105 105 Burroughs(f4).. 248 24814 245 245 Bush Term(g2). 83% 84 801 81 Bush Ter de(7). 106% 1061 1061 106% Butie Cop & Zinc 9% 91z 8% 9 Butte & Sup(2). 9% 10% 9% 104 Butterick Co.... 40% 40% 39% 39% Byer & Co...... 189% 194% 189 193 By-Prod (13%). 109% 122 109% 117 Calif Pack(4)... 75 76% 74% 5% Callahan Zinc... 3% 3% 3% Calu & Ariz(17). 121% 123% 121% 123% Calu&Hec (2%). 454 47 45% 47 Can Dry (t432). 80% 814 791 79% . 2371 238% 236% 238 43} 44% 43 444 490 478 490 48% 4675 48% . 21 21 201 204 de Pas(5). 109% 111% 109% 110% Certain-teed Pro 238% 29 28% 29 Chandler-Clev.. 20% 221 20% 21% Chandler-Ci pf.. 36's 37% 36l 3T Ches & Ohio(10) 217% 218% 217% 218% C& O Corpn(3).. 80 81 80 81 Chi & Alton. 1% Ch! & Alton b Chi & East 111 p! Cht Great West. Chi Gt West pf. . Chi Mil & St P.. Chi Mil & StP pt 56% Chi & Nwn(4%4). 89% Chi I'ne Tocl(6). 168% 1733 168% 173% Chi RI&Pac(6).. 130% 132 ° 130% 132 CRI&Ppf(7). 106% 106% 106% 106% Chickasha(3) 51 51 50 50 Childs(2.40) 57% 57% 57 57 Chile Copper(3). 72l 73% 71% 733 Chrysler(3).... 1321 134 131% 13 9% 60 181 14% C Cent Alloy2)... 1% 185 620 19% 470 11% 18% 627 21% 62% 21% 49% 341 luett-Peab(5). 69 luett-Pea pf(7) 115 Coca-Cola(6)... 170 Collins & Alkmn. 51% Col Fuel & Iron. 69% Col Gas & E1(5). 139 Col G&E pfA(6). 108 Col & Southn(3) 115 Columbla Graph _75% Col Carbon(4)... 126 Com Cred(1).... 61 Com Inv Tr($4). 12 Comm Solv (j8). | Com Power(13). Congoleum-Nair Cong Cgrs (5).. Consol Cgrs (7). 0% 69 119 115 171% 170 171% 53 51 51% 72 69s T0% 140% 137 139% 108 108 108 115 115 115 1% 5% 76% 134% 126 134% 61% 60% 61 % 132% 126% 131% % 239% 232% 239 105 110% 105 110% 2T% 2T% 2T% 2T% 80% 81 80% 81 95% 96% 95% 96% Con Film pt(2).. 25% 25% 26z 6% Consol Gas(5).. 108% 109% 107% 108% onsolGaspf(5). 99 99 99 nRRCuba pf 6 69% nsol Textile. . 5 Container A 1.20 Container B 60c. nt Baking A.. ont Baking B. nt Balk pf(8) 69% 119 694 4% 22 0% ingly heavy. it seems likely that the older cotton mills will either pass out of th2 picture or that they will be re-equipped with modern machinery. The most drastic changes, however, seem to b2 coming in the distribution end. Sales pro- | cesses will be simplified. | Indications, according to Lincoln Zaylies, president of the National association of Cotton Manufacturers, cint to an increase use of cottons for wearing apparel and there has been I'scme stiffenitig of prices without checking buying demand, Contl Can (n) Cont Insur(6) | Contl Mot(80¢). W 19% CornfxBank(20) 810 810 Corn Prod (t%). 89% 90° | Coty, Inc (123%) 74% | Crown Zelrbek1 24 | Crue:ble Stl(5). 88% 19 810 893, 3% 24 887 9 810 90% T4% 24 89% Indian Refg ctfs Indust Rayon... Inland S(kt6%). Inspiration (3).. InterboroRapTr. InterconRubber. Internat Agri... Int Ag Ch pf(7). Intl Bus Ma (c5) Int Cement(4) Int Com Enge2). Int Comb pt (7). Int Harv 2% . Int Harv pf(7) Int Mteh pt 3.20. Int Mer Marine. Int Mer Mar pf. . Int Nickl of Can. Iat Paper(2.40). Int Pa&PoA2.40. Int Papr & Po B. Int Papr & Po C. Int Paper pf (7). Int Pa&Po pf(7) Int Silver. .. Int Te! & Tel(6) . Int Tel & Tel rts Interstate D Intr Dep S pf 7 intertype(liz). Island Creek(4). Jewel Tea (rts.. Johns-Manvis). Jordan Motor. KKan City South. Kaufmn DS 1%. Kayser J(5). Keith-Albee. Keith-Al pf(7) Kelly-Spring. ... Keis Hayes(2).. Kelvinator Corp. | Kennecott (8)... Kinney (G R)... Kolster Radio. Kraft-Pho(1%). Kraft pf (6%).. Kresge(11.60).. Kresge Dept S.. Kreuger & Toll.. Kroger Grotel). LagoOfl........ Lambert Co (7). Lee Tire & Rub. Leh Por Cmt 2% LehighVal(3%). Lehn & Fink(3). Life Sav(1.60).. Lig & Myrs B 15 Lima Locomtve. Liq Carb( t4%). { Loew’s Inc (13). Loose-W (1.60). . Lorillard Co. Louistana Oil. Louis GasA 1.76. Louisv G&E rts. Ludlum St1(2).. LudlumSti(rts). McAndrews 2.60. Me Call Corp(4). McCrory B(2)... Mclntyre P(1).. McKeespt Tin P1 McKes&Ro 1.60. ack Truck(6). Macy Co (2). Mad $q Gar 1%. Magma Cop (4). Mallison & Co. .. Manati Sugar pf Man Elec Suply . Man El m2g(d5) Man Shirt(2)... Maracaibo Oil... Marlan Oil. . Martin-Parry . Marl{n-Roe 13% Marmon Mot (4). Mathieson(6)... May Dept S(4).. Maytag (12) Maytag pf(3). Maytag 1st pf(6 Mengel Co...... Mengel (rights) . 4% 16% 22% 9% 9% 16 16 5% 1 05% 65% 5% 17% 23% | CubaCanesugar. & aba CaneSupf 17% | Cuba Company.. 22% Cuba R R(4.80). 79% Cuban Am S(1). 16% !Cuban Dom Sug. 5% Cudahy Pkg(4). 65% Mexican Seab., Tilami Cop(1) Mid-Continent Mid-Cont pf (7). Middle States. ., Mid States ctfs. . Midland pf(12) Open. 1454 62% 581 384 189% 131% 183 6014 32% 54%a 116 111% Hollander & Son - 2 T 1414% 350 BT 29% 284 Int Prig Ink 2%. 1 119% 30% 13¢ 104% 21 3% 48% 108% 184 21% 69% 45 30% 12 184 3% 120% 41y 3% 3% 251 2584 Low. Close. 144% 145'% 31 1 Miller Rubber. .. Minn & St Louis M St P&SSM pf. Mo Kan & Tex.. Mo K&Tex pf(7) Missouri Pacific. MoPacific pf(5). Mohwk Car 2% . Montgom Ward. Moon Motor. ... Mother L (40¢). Motion Pic Corp. Motor Meter A.. Motor Prod(2).. Motor Whi(t23% Mullins Mfg. Munsingwt (3 Murray Corp. Nash Motrs(16). Nat Acme(sta) Nat Bellas Hes: NatBHess pf(7). Natl Biscuit(t7) Nat Bisc pf(7).. Nat Cash Reg t4 Nat Cash Rrts. Nat Dairy (3). Nat Dept Sigres. Nat Distiliers. .. Nat Distillers pt t Enamlg (1). Nat Lead(5).... Nat Pow&Lt(1). 6l 593 | Nat Supply (48) . Nat Surety (5). Nat Teatd).o..s evada Cop (2). N Y AirBr(3).. N Y Centr: N Y. DOCK.ve.ven NYNH&Hart (4) NY NH&H pf(1) N Y Ont&Westn Norf & Wn(110) NorAm bl0%stk NorAm Ed pf(7) No Germn Lloyd North Pac(5),.. Nor Pac efs(5) Norwalk Tire 011 Well Supply. Omnibus. ...... OvpmCollins(f4) Otis Steel Owens Bot (c4). Pacific Coa Pacifc Gas! .. Pac Ol Stubs. .. Packard M t5%. Pan-Am Petrolm Pan-Amer Pet B. Panhandl, Paramount-F-L Park & Til($3).. Park Utah(80c). Pathe Ex. . Pathe Ex(A) Patino M(2.92 Peerless Motor. . Penick & Ford. . Penn Dixie Cmt, Penn RR(3%).. Pere Marq(18).. Pet Milk (1%) Phila Co pf(3).. Phila&RC&I. Phil Morris(1).. Phillips Pet (2). Phoenix Hoslery Pierce-Arrow. .. Plerce-Arrow pf Pierce Oil...... Pierce Oil pf.... Pierce Petrolm. . Pillsbury (+2.10) Pillsbry pe(6%) Pitts Coal...... Pitts Coal pf. Pitts Term Coal. Por RicoToA (7). PortoRicoTobB. Postal T&C pf 7. Postum(3) Prairie Oil&Gas. Pressed Stl Car. Pr Stl Car pf(7). Pub SerNJ 12.40 Pub Serv pf(6).. Pub S NJ pf(7) Pullman Co(4).. Punta Aleg Sug. Pure Uil (1).... Pure Oil pf(8).. Purity Bak(3).. Radio Corp..... RadioCo pf(3%) Radio-Keith(A). ReadingRy (4).. Reading 2d(2).. Real Silk Hos Reis(R)& Co. Rels 1st p(7). Remingtn-Raud. Rem-Rd 2d(8)... Reo Mot (71.70) Rep 1 & S(4). Rep Ir & St(rts, Reyrolds Spngs. Rey Tob B 1615 RhineWE(1.92). Richtield O11(2). Rossia Ins 161 . Royal Bak P(1) . Royal D(a3.222) . Royal Dtch(rts) Safeway (3). St Jos Leaa.id). StL & Sank'(18) . StL&SanF pf(6) StL&Southwest. Savage Arms(2) Sehulte (33% ) Seab Air Line. .. Seab Air L pf Seagravetel.20). Sears-Roe(32%) neca Copper. . Shattuck FG(2). Shell Un(1.40). Shell Un (rts). .. Shubert The(5). Simmons Co(3) . SimmsPet(1.60) Sinclair 01l Sinclair pf Skelly Ofl(2) Sloss-Shef (6) . Sloss-Shf pf(7). Snider Packg Co Snider Pkg pt... SoPoRicSt2% South Calif Ed.. South Dairies A. South Dairies B. South Pac(8) SoutHf Ry(8). South Ry pf( Spang Chalfnt.. Spear & Co..... Spicer Mfg..... Spiegel Co (3).. Std Com To(f1). StAG&E (3%). Std Milling (6).. std Millg pr(6). Std O of Cal(f3) StdOIINJ(11%). StdO:INY (1.60) . S1d Plate Glass. StdSanPro(1.68) aniey Co...... Stewart-Wari6) Stromberg (3).. Studetuker(5).. Submarine Boat, Sun Oil (g1). Superior Ol Superior Steel. Sweet of Am(1). Symington Cl A.. Telautogh(80c). Tenn Copper(1). Texas Corpn(3). Texas Corpn rts TexasGulfSul(4) Texas & Pac(5). Tex Pac C & Oil. Tex Ld Tr(new) Thatcher Mfg. .. .| Thatenr pf 3.60.. The Fair(2.40).. 'hird Avenue. .. Thomp J R(3.60) Tidewater AsOil TidWASOIIpf(8) TidewatrO(80c) (Timken R B(6). Tobac Prod (8). Tobac Prod A(T) Transcont Oil... Transue & W (1) Trico Prod(23). Truscon (£1.20) . Twin CityRT (4) Undwd-El1 F (4). Un Bag & Paper. Union Carb(6).. Un Ol Cali2)... Union Oil (rts). . Union Pac(10) Union Tank(5) Utd Biscuit 1.60. 37 120% 4% 3t ! Utd Cigar St(1). 4 24 268% Utd Cgr Stpf(6) 104 104 106% 297 224 117% 1884 143 4 106% 29% 20% 90 37 143% 2. { moderately higher in the forenoon, but * |they displayed real strength. i poration of America, a new company STOCK PRICES GAIN | INACTIVE MARKET Year-End Session Featured | by Brisk Wave of Buying. BY GEORGE T. HUGHES. Spectal Dispatch to The Star. NEW YORK, December 31.—Closing the year true to form, the stock market ignored money and all other adverse | conditions ag it c)?ntlnued its bidding up of selected stocks. pBecause it was the last day of 1928, there were the usual transactions for cash made by traders who wished to record the results on this year’s income tax return. Trades made in the regular way go into the 1929 accounts. This fact brought some recovery to- day in stocks which had been under pressure earlier in the month by those who were taking losses. On the other hand, there was opportunity to take profils in stocks which have had large advances during the year without hav-{ ng to pay income tax on the gain, but | this did not seem to be reflected on the ape. In other words, the rush to realize | was postponed. 2 | Public utilities were preminent. Three of them that went to new high records were Columbia Gas, Interna- | tional Telephone & Telegraph and Pub- lic Service of New Jers: Columbia | Gas crossed 140 for the first time, In- | ternational Telephone sold above 200 and Public Service of New Jersey above 82. There was nothing new. The afternoon was featured by ani- mated buying of the:steels and the mo- tors. United States Steel made a new high on the movement, while Bethle- hem Steel, above 88, was at the highest since 1920. Among the other indepand- ents Republic and Vanadium were the favorites. The demonstration in the motor stocks came suddenly. They had been it was not until the fourth hour that ‘Then General Motors crossed 200 for the first time in over three weeks. The new ck went along with the old. Great locks of Hupp, Willys-Overland and Chrysler were taken at advancing prices. Hupp, above 80, was up oyer 3 points. Marmon Motors came to the front and nearly all the other automobile stocks were in active demand. - L Buying kept up in the utilities, Na- tional Power & Light made a new year's high, while Commonwealth Power jumped almost 6 points also to a record top. The coppers were strong under the leadership of Anaconda, which, above 118, was at the highest in the history of the company. Realizing brought about some declines from the tops, but in gen- eral it was well absorbed. AL, Insurance Firm Chartered. BALTIMORE, December 31 (Spe- cial) —The Premier Insurance Cor- with a capital stock of $4,000,000, has been chartered under the laws of Mary- land. The incorporators are Francis Key Murray, Layton S. Smith and Ed- win_Eareckson, jr. The corporation has been financed by New York capitalists. TREASURY CERTIFICATES. (Reported by J. & W. Seligman Rate—Matuity, 3%s Mar. 15. 1929 3%s Mar. 13, 1 4125 June 4345 Sept. 15, 4 . 18, . 15, 15, 18, 15, gssesises 3i2s Dec. FOREIGN EXCHANGE. (Quotations furrished by W. B. Hibbs & Co.) drach: peseta. . Vienna: schilling. Budapest. pengo. Prague, crown (1o Warsaw. zioty.. . Copenhagen,~ crow Oslo, crown..... 12668 Stackholm, Crown. 2677 American Brass Co. has raised prices as of December 31 % cent a pound on brass, nickeled silver, copper products and seamless tubz: —_—————————— High. Low. Close. 72 70% 71 Open. Utd Elec Coal... 7 Utd Fruit(t5% Utd Paperboard. U S Distributing U S Distrib pf(7) S Hoffman(4). Alcohol(5) S Leather.’... Leathr A(4) Lea pr pf(7) Realty(4).. Rubber..... Rubber (rts) Kub 1st pf. Smelt(3%).. Sm pf(3%). US Sm&Ref ris. U S Steel(7)..... U S Steel pf(7).. U S Tobacco(3). Univ Pipe & Rad Util P&L A(e2). Vanadium (74). Van Raalte..... Vick Chem(4). .. Victor Talkg(4). -Caro Chem. . Vir-CarCh pf(6) Va-Car Ch pf(7) Vivaudou Co.... Vulean Detin... Wabash......c. Wabash pf A(5). Waldorf(1%)... Walworth (1.20) . Ward Baking B. Warner Bros Pic Warner Bros pf. Warner-Qu(2).. Warrn Bros (15) Warren F&Pipe. Web & Hell..... Web&Heil pf(7) Wesson Oil (4).. W Penn EI pf(7) West DairyA (4) West Dairy B... West Maryland. West Md 2d pf.. West Pacific. West Pacific pf. West Union(8) Westhse A B(2). Westinghse(4).. Westhse 1st(4). White Eagle(2). White Mot(1)... White Sew Mach White SM pf(4). Willys Ov ¢1.20. Willys-Ovd p£ 7. Wilson & Co.... Wilson Co pt Wilson & Co p Woolworth(5).. Worthn Pump. . Worth Pump(B) Wright Aero(2). Yale&Twne(15). Yellow Truck Young Spring.. 5 Youngstn Sh(5). 115 113% 1 Hourly Sales on N. ¥. Market. 10:30 &m.. 686,800 12m... 2,170,700 0 p.m. 3,255,600 2:15 p.m3,889,000 u u u u u u i} U U S u 6 7 4 159 141% 6514 a1 66 stoc! 23% 23% HoFk 103% 103% 1% % in stock. & Plus y stock. i Plus 20 FINANCIALS Complete Investment /' and Brokerage Service Copy of our “Fortnightly Review” furnished om request G. M.-P. MURPHY & CO. 1508 H Street New York Members oy New York Stock Exchange WASHINGTON, D. C. Telephone Main 9600 Private Wire and Telephone to New Yok APPLICATIONS INVITED for LOANS on IMPROVED PROPERTY 1001 15th St. N.W. 1417 K Street Located in the District of Columbia and adjacent suburbs in Montgomery and Prince Georges Counties, Md. 5%:% Apply to . H. L. RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY OF AMERICA Connecticut at K / Richmond Main 8100 WE INVITE Your Applications for Loans on Improved Real Estate Nearby Maryland, Virginia the District of Columbia At the Lowest Possible Cost Interest 51/2 % For Periods of 3, 5 or 10 Years, : ROSSEPHELPS Realtors Founded 1907 Loan Correspondent John Hancock Mutual Life Insurance Co. Main 9300 A Sfiggestion | Your January Investments | Safety of your principal and regularity of income can be as- sured by investment in the FIRST MORTGAGE 67 notes offered for sale by The Commercial National Company. These notes are secured by first deeds of trust on high grade homes and income-producing business properties in Washington and its suburbs. This company has invested its own funds in these notes after careful appraisement of the properties. Notes are now available in denominations of $100.00, $250.00, $500.00, $1,000, and upwards. THE COMMERCIAL NATIONAL CO. INC. Paid Ur, Cash Capital $900,000.00 (Under the same management as The Commercial National Bank) 14th & G Sts. N.W,, Washington, D. C. R. GOLDEN DONALDSON, President share _aquarterly 1710 share auarterly in | tores common stock. @ Plus SA'E'E FIRST OGNE OF MORTGAGES THE STANDARD INVESTMENTS Those who value safety find our 6% FIRST MORTGAGES most satisfactory. A Third of a Century Without Loss There are no “longs” or “shorts”; “bulls” a 6% comes with regularity. up. or about such an investment. “bears” The unfailing Offered in amounts from $2 B. F. SAUL CO. Main 2100 THERE IS NO SUBSTITUTE FOR 925 15th St. N.V SAFETY