Evening Star Newspaper, January 10, 1929, Page 13

FINANCIAL. D. C, THURSDAY, JANUARY 10, 1929. THE EVENING STAR. WASHINGTON, Offerings Wanted Hilltop Manor 1st 63,% ‘Washington Gas Light Park Savings Bank Federal Security & Mortgage Units International Finance Units ‘Wardman Mortgage & Disct. Vasco Products Pfd. & Com. Real Estate Mortgage & Gty. Units Departmental Bank Franklin Nat. Bank Virginia Plate Glass Racquet Club 1st 7% Investment Bldg. 1st 612% Bids Wanted Stanley-Crandall Pfd. Great National Insurance Our Home Life North American Development International Bank Griffith Consumers Coal Units W. B. Moses Pfd. Miller Train Control Washington Baseball F. H. Smith Pfd. Washington Theatre Rosslyn Steel & Cement National Press Bldg. Pfd. Jefferson Apt. 1st 6% 1939 Nerthern Virginia Investment Thomas L. Hume 1412 G Street Main 1346—Main 4733 0000000000000000000008 OVING is a Pleasure ‘When you move into an office, furnish it modernly with fur- niture that demands instant appreciation for its smart, serviceable appearance. Come in before your move and let us help you make some splendid selec- tions from our large assortment of office furniture and equipment. THE W. D. CAMPBELL COMPANY Two Entrances 1018 15th St. N.W. 1506 L St. N.W. Franklin 5660 000000000000000000 9000000000000 00000000000000000900000000000000009 9000000090 00000000000000000000000000000000000000- You (Can Increase Your 1929 Income ‘Why not arrange now to put your 1929 dollars to work where they will substantially increase your income? You can do this by following the investment example of those who have shared in the $100,000,000 in dividends paid on Cities Serv- ice Common stock. Your own spare dollars put to work now in this 18-year-old security yield you a net income of over 7%. TR T 2 XD Over a Third of a Century’s Management Requires Experience —ezperisiics ‘that teaches how to cope with the many prsblamelashich uriss Hat- fecting both owner and ten- ant. Our over a third of a century’s experience is at your service. B. F. SAUL CO. Main 2100 925 15th St. «..and all things consid- ered, it's plain common sense to base your invest- ments upon =ound, con- servative analysis. A copy of our January Invest- ment Guide will be sent om request without obligation. Call or write for BOOKLET WS-20 G/LLET & CO. B8ANKERS INVESTMENT BUILDING WASHINGTON, D. C. Telephone Main 2460 ‘A COMPLETE INVESTXENT SERVICE — ADVANGE IN-CURB ISSUES CONTINUES | Utilities Are Prominent Operations for Rise—0ils Active. in BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, January 10.—Leader- ship in the curb market operations to- day was assumed by the public utility group. Many of these issues moved upward readily under a concerted de- mand. New high records also were numerous in other quarters. American Super Power issues in- creased their gains of the preceding session, both the A and B making new tops. Assoclated Gas & Electric, after opening on a block of 10,200 shares at 547, continued in demand around this level, which represented a new high. Electric Bond & Share Se- curities went from the previous final of 181 to a new high of 185 before the demand was supplied. Southeastern Power also attained a fresh peak, while Buffalo, Niagara and Eastern Power and Mohawk and Hud- son extended their gains of Wednesday. A number of these issues were in- fluenced by reports of a plan for a huge merger of four up State New York companies, namely Niagara Power, | Rochester Central Power Northeastern Power and Mohawk Hudson Power, It has been rumored for some time that United Gas & Improvement was plan- ning to obtain a majority interest in Mohawk Hudson. Vacuum Oil led the Standard Oils, advancing 6 points to'a new high at 114%,. Proposed special disbursements to share owners, to be paid out of sur- plus, wes the incentive for the demand. Other oils worked moderately higher. Airplane stocks were featured by a| new high for North American Aviation andra rise of more than a point in Avia- tion Corperation of America. Thomv- son Products class A was in urgent de- mand on estimates of highly favorable earnings. The company manufactures valves and engine accessories for auto- mobile and airplane companies. Specialties which moved forward into new high ground included Grigsby Gru- now up 11 points at 163, Todd Ship Yard up 5 to 70, Libbey-Owens Sheet & Glass up 10 points, around 210, U. Freight up more than 3 above 100, Na- tional Bellas Hess new up almost 5 at 77, Federal Screw up almost 4 above 72 and Roan ‘Antelope up more than a point across 46. Bullard Co. new went to its highest since listed. MRS. WORRELL HITS LEHLBACH PAY BILL Civil Service League Leader Says Czaristic Power Given to Per- sonnel Board. Mrs. Margaret Hopkins Worrell, presi- dent of the League of the American Civil Service, issued a statement yester- day further attacking the Lehlbach bill as vesting the Personnel Classification Board with “czaristic powers.” She charged it would take years to re- allocate and readjust positions under the Lehlbach bill. “There would be no possible appeal from decisions made by the board, which would be a law unto itself,” she said, “and it would require a large clerical force to figure out the intrica- cies of this piece of legislation. “Besides,” she added, “it would de- moralize the' Government service.” BROOKHART AND WELCH TO ADDRESS EMPLOYES Senator Smith W. Brookhart of Towa and Representative Richard J. Welch of California will speak' before a mass meeting called by Treasury local union of the National Federation of Federal Employes for Monday night at the In- terior Department auditorium. Other speakers wil include Luther C. Steward, president of the national fe eration, and A. J. Oliver, national or- ganizer for the federation. The presic- ing officer will be E. C. Hooper, presi- dent of the Treasury union. As the Lehlbach' and the Brookhart- Celler measures for adjusting the sal- | aries in the classification act now are pending in Congress, it is expected the meeting will be largely attended. CONFIDENT OF FUTURE IN INDUSTRIAL FIELD “American industry as a whole has every reason to feel satisfled with the progress made and to be confident for the immediate future,” Magnus W. Alexander, president of the National Industrial Conference Board, asserts. “Recession in industrial activity a year ago was of short duration, and production in several basic industries will be found to have made new high records when all 1928 returns are in. Employment this Fall was approaching the high level of 1926, the previous record year. Wages in the manufac- turing industry have been the highest since 1920, and ‘real earnings,’ in- fluenced by changes in living costs and hence a measure of the wage earners purchasing power, werc at the highest level since 1920, “Competition continues keen, with generally narrow profit margins on sales, satisfactory returns on invest- ment depending largely on volume and accelerated turnover and. on intelligent production planning. Smaller companies are finding it difficult to compete with large-scale enterprise, as the relatively };eig‘h level of failures among them at- sts. “On the other hand, profits of effi- ciently conducted large companies, able to diversify and constantly ‘style' their production to meet changing consumer demand, have, in many in- stances, been most satisfactory, as evi- denced by the many extra, increased and stock dividend payments during the year. “The present momentum of business may be expected to carry industrial activity through at a satisfactory pace well into 1929.” i oo oy Diermer Is Commissioned. The War Department has issued a commission to George P. Dicrmer, 2410 Twentieth street,” this city, as a sec- ond lieutenant, Medical Administrative Corps, Organized Reserves of the Army. B GERMAN BONDS AND STOCKS. Spectal Dispatch to The Star. NEW YORK, January 10.— Bid. Asked. 55.00 60.00 40.00 { Ger Govt Red Loan with draw | etfs attached per 100 R M Ge Red Riihout Ger Gen Ele Berlin 45 pre Hamburg 35, 3128 Hamburg ‘American Line 4 North German Lioyd 4} Krupp 55 1921... Dusseldorf 4s pre- Frankfort a-M 4s pre- Munich 4s pre-war... 5. e (Quoted in doliars pér’ share.) A E G (Ger Ge Elec). .. 45.00 A E G (Ger Ge Elec) pfd Commerz and Privat Bank. |1 G Fa z assososts AR PR T 2333328 North German_ Lioyd Austrian A E G (Gen Ele Fudolph Karsiedt. ... £3333333823223 8333 . 8 NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office sed Wire to The Star. By Special L a list of stocks and bonds Following is traded in on the New York Curb Market 1 today: Sales INDUSTRIALS. Tiigh. Low. Noon 0 Ga Tayon rots. As<o Rayon pid.. ... 7 Automa Rez Mch Wi 5 Auto Reg M conv wi 287 23 Aviation Co of 2Belab & Katz 3 Boeing A . 1Bocing A EP A b Ma T n wil ro: 43 2 Co BHIGRE Sl +; Commonwlth Ed 1. 1 Commonw P_pfd Bk e P Pont 3 Duplan El P&L 2d ptd A Em Pow Cor.... Evans Auto Load Evans Wall Lead. F ‘ageol Mot Co. Fairchild Aviatn Prod. . 4Gen Pub 1 Glen Alden Coal 35 Gold Seal Elec 21 Goldman Sachs 5 Gramoph Co_ Ltd 35 Lake Super C.. 15 Lakey Found & M. 3Leh Val C cfs COD 3 Libb Owens Sh Gl N & L deb 7' Intl Mar yire Lond She ¥ New Eng Po 3 Newton St 4 perfect % Bat Milk 1Ppick Bar & 13 Plerce_Governor P 6% pit Cent Pow . Stores Sec 8 Seeman Bros Selected Ind_In 0, ifr Prov_Stol 3% cted Ind Inc pfd 100 El vic ... 18} 16 Singer 36 Southen; 25 Southe P & L war 5 Tube § Spanish & Gen rc 10 Spencer_Kellogg, 5 Stand Dredg pfd € Stand Mot .. Bros A. Mo 1% Stern Stutz 1Tampa El 23 Thomps Prod A 2 Thomps Starrett J5 Timken, Det AX 2 To hip. .. . ) s Am Tt cifs on_Air T DL 8 Foil B.. 7§ & For Sic 1o 46U 'S Freight of Del 1001 2 Walgreen 8% § watson . 3 West Aut crtvaco 20 Golafid iud Bay fason Vi a 63 Ohio Co 22 Roan_Ar 108an To; 19 Shattuc! 1Teck Hi 10 Tonopa 8Uni Verc 4 Wendon Cop . 1Yuk Alas T Eales in INDEPENDENT OIL STOCKS. hundreds. 9 Am Con Oilfids . 13 Am Maracaibo C n 69 Citles Scrv n 55 Citles Serv rts Boull Ot Pa® 13 Homoakla Ol iiiiis | ! gold bed. | ger swung the stick and killed it, sub- | size_this unfortunate situation. 16 Intercont Pet ....... 2% 1Marland Mex...0l:.. 4 10 Mo Kansas Pipé Line 182 12 Mount _Gulf. 11 Sates in ANDARD OIL ISSUES AND FOR- units. TOCKS. SR SUDBSIDIARIES—-S' 600 Contl O1l ... 9 o 19% 100 Humble” O 101 | | | | housands. 2 Abitib 1 3 109 2 3 ¥ | 3 At Pruit 8s. 1Atlas Plyw 5!, 2 2 Bates Val Bag 2 | 9 Beacon' Oil 1615 | .2 Bell Can 5 ¥ Y | 15 n Nat Ry 4128, 3 Cent States El 5§ 1Chi Pneu Tool 5% 101 Rvs efs 1Cit Serv Gas 20 Cit Serv 1 Gons Tex 1 Cudahy 5'2s 5 Denv, 5 Det In gla_Pow srand_ Trunk 6143 10° 2Gulf Oil Pen 5s ‘37 3 Houston. Gulf G 6% b Houston Gulf G 68 s. 1 Manitoba 1Mass Gas Sius, 10 McCord Rad 65 .... Ui 27 Met Ed Co Pa 4155 D 877a Mo ¢ Co 7128 .. 1 & 0034 Co 55 A ....100% 119 5Nat P 6s A 35 Nat Pub Serv 55 . 10 Nat_Trade J 65 . 6 New Eng G & E 5 10 N Y CStLdlas 80hto Fow 4123 D 6 Ohio Pow_5s G&E 425 2 Penn Oh Ed 65 A" 5 Rlc‘ilfl::\fl {7',; gl':ss‘. - 9 Roch Cen! 0! . 3 Servel Co Del 5s. 8 2 S\l.’\(;\slll‘;ll ki 13 Snider ac) Southeast P& T, 1 6Stand P&L 6s.. 15 81 Staid Rats 81 & Co_3s 3 15 Western P 4 West Tex Salesin FOREIGN BONDS. usands. . thOUSRRT Mor Ba 78 *41. 5 Bank Prussia s, 9 Buenos Aires 75 8 Buenos Alres 7! 2 Com & Pr Ba: 4 Danish Cons 512 2 Freole M El Mtz € 2 4 Ger 1 Ger Pr & 7 ltal Superpow [ s or, BK 7 6 Jugos! Sta Mor, Bk 75 & 1 Mendoza 7725 'S1. 10 Montevideo 6s A, 3 Mor Bk Bogota, 10 Mor Bk Bogota s 1. 13 Mor Bk Chile 85 '31 1 Nippon Elec 6%8.. 2Rio Grande 175 '67. 1 Saarbruecken “7s 1Santa Fe City 78 5 Sauda Falls 55, A 2 Stinnes Hu Js 36 1 Stinnes _Hu s 46 W 10 Uni EI Ser s A WW,.. 13 Uni Stl Wks 628 Al £x_dividend, hen issued. - New. SwoWith warrants. SPENDS SEVEN YEARS IN ALASKAN WASTES | King’s Former Guard in Copen- hagen Suffers Hardships ‘While Prospecting. 92 892 By the Assoclated Press. ANCHORAGE, Alaska—The seven years wandering of Mat M. Hugeer, once a king's guard in Copenhagen, over the snowy Alaskan gold flelds is typical of the hardships endured by prospectors of the Far North. His field of action was in the Fair- view Mountain region, 100 miles from here, where he was reported to have found “pay dirt” recently. Hugger, with one dog and a scanty supply of provisions, mushed across country from the Alaska Railroad seven years 8go. He reached Mills Creek and worked fruitlessly for a year. Floods washed over and filled in his diggings before he could get down to bedrock. Each Spring for six years he fought his way back ipto the district before he succeeded in getting down to a On one of his treks, returning he waded five rivers, crossed a dangerous glacier and after four days spent on an ice sheet had his grub pack stolen by a glacler bear. Then he resorted to sitting at the entrance to a squir- rel's hole with a club. As the animal stuck its head out of the ground Hug- sisting on this diet until he reached his base again. e MINING INDUSTRY LAGS IN PROSPERITY MARCH By the Assoclated Press. SAN FRANCISCO, January 10— “The mineral industry as a whole dur- ing 1928 limped pitifully far in the rear of the march of prosperity,” declares C. W. Merrill of the California Develop- ment Association. “The notable excep- tions, copper and iron, serve to empha- “We need, and we produce from our mineral heritage, raw material equal in value to more than half that of all our agriculture industries. When finally processed its value has increased three times, and 20,000,000 people have been supported by the work. “About one mine emerges from 1,000 prospects; countless dry wells are drilled in the search for ofl; milllons of tons of coal are lost by competitive methods of exploitation. ~So with all the metals and non-metallic_resources the soil can be replenished and made to yield its increase, but none can re- produce an oil pool or ore body. “Science alone can salvage the where- withal to maintain our industrial in- dependence, yet mining is not only denied Support and subjected to op- pressive legislation but bears the brunt, of national taxation—over 20 per cent. The mineral industry receives in total Federal appropriation only three per cent of the sum allocated to agri~ culture. “Wise governmental control, remedial i |Liquidation and Local Selling presented as follows: Oct. 3. 1928. Bank of Washington Columbia Commerciai DIStriCt o.v.s:. Farmers ‘& Mech Federal-Ame: | Franklin .. Liberty Lincoln Metropoll National | Riges Second . 3144,703.6: SAVINGS Total Anacostia 940,501 non North Capitol Northeast | Bark Potomac f Prudentiai " i Seventh United States Washingt Washin Woodridze-La NATIONAL BANKS. 21 $9.067.803.44 4,449.642.19 0. 16,117,024:5¢ 16.829.459.10 035762685 9.066.176.26 66 $139,600,932.42 2,164,393 .02 . 26 49446723 667.731.61 DEPOSITS OF ALL LOCAL BANKS SHOWN BY CALL OF DEC. 31, 1928 Following is a statement showing the total deposits in all Washington ‘banks on December 31, 1928, as requested in the Controller’s call i For purposes of comparison, the figures of the call on October 3, 1928, are also sued a few days ago. Dec. 31, 1928, $8,635,708.18 4,363, Increase. Decrease. - $452,005.26 85,861.59 59 3, 157 693.374.93 143,691.96 §113,434.56 *140.912106 * §7.257.86 545,566.86 71.434.80 BANKS, " ¥i0,046.73 68,676.44 28.952.74 '112.101.83 40,845.14 36.05 < 140 85474 28.538.65 42.347.31 Total .. 14,709, 9,593, Washington Loan 14657 $1,172,067.34 $1,015,527.45 ~'174,508.57 1,459,518.20 388,45 Totals ... 89,213, Natfonal banks $144,703.657 Savings banks . 401315.706. Trust companies . 9.213 Totals . “Consolld: (Statement compiled by Audley A 32.831 RECAPITULATION. 66 $139.699.932.42 23 39,143:128:80 38 86,450 s National Bank P. Si $80,450,03.86 $2,763,278.52 $5,003,725.24 1,172.667.34 2.763.278.52 $8,939,671.10 86 27 '$265,203,160.17 . auditor, National Savings & Trust Co.) COTTON PRICES FIRM IN EARLY TRADING Force Recessions After Opening. By the Assoclated Press. NEW YORK, January 10.—The cot- ton market opened steady at a decline of 2 to 7 points and sold about 8 to 10 points net lower during the early trad- ing under some liquidation and local selling. The latter was promoted by the standard cloth statistics for December, showing an increase of eight-tenths of 1 per cent in stocks for the month and a decrease of 9.8 per cent in unfilled orders. March eased off to 19.94 and July to 19.59, but there was some trade buying and the market was steadied at the end of the first half hour, with prices showing rallies of 3 or 4 points from the lowest. Private cables said an advance on trade calling and covering-had been checked by London and Bombay selling in Liverpool, but that sales of cotton cloths to China and Egypt were larger. WHEAT IS LOWER ON INITIAL SALES Market Declines After Strong Opening—Corn Prices Also Drop. By the Assoclated Press. CHICAGO, January 10.—Wheat prices underwent an_early setback today and corn also declined. European markets failed to reflect fully yesterday's up- turns on this side of the Atlantic and conditions suggested that foreign buyers were not following advances either in wheat or corn. Opening unchanged to 1 highr, Chicago wheat soon declined .all around. Corn started unchanged to % off and subsequently showed a mod- erate general drop. Oats were firm. Provisions also tended to advance. With Liverpool wheat quotations dis- playing relative indifference to advances here, the selling side of the Chicago wheat market received better backing today, and bears were in a majority a good share of the time. On the other hand, comprehensive reports were at hand, indicating that the crop outlook for domestic Winter wheat is not nearly so favorable as at the first of the year. Many sections, especially of Illinois, In- diana and Ohio, sent word that a sub- stantial acreage is apt to be smothered out. Corn market declines which took place at times today were ascribed largely to Buenos Aires dispatches, say- ing that in Cordoba province, which represents 30 per.cent of the Argentine corn area, soaking rains have continued previous good crop_ prospects, bub other zones where drought has prevailed are still dry. Besides domestic corn belt weather today was improved. However, not much corn was being booked to ar- rive here, and at least some corn ex- port business was again in progress. . PROFESSOR PREDICTS END OF PUSHCARTS Product of Chicago’s “Ghetto” Sees Decline of Maxwell Street Mart. CHICAGO (#).—A professional prod- uct OF that rialto of Chicago's Ghetto district, Maxwell street, predicts that the clatter of sidewalk clothes venders, pushcart hawkers and horseradish grinders will disappear. Himself a native of Chicago's mart of Jewish immigrants, Louis Wirth, now professor of sociology in Tulane Univer- sity, has analyzed the declining age of Ghettodom in a book, “The Ghetto,” to be published here. ©Old World customs and silent Satur- days have prevailed in Maxwell street since 1882. A tide of Russian Jewish immigration then transplanted the dis- trict into a teeming community, crowd- ed into narrow streets by hundreds of large families. For years the gypsy- like peddlers prospered. Throngs of curious Chicagoans, attracted by the | transplanted communal life of the Rus- sian pale, boosted Maxwell street's trade. Now, Prof. Wirth declares, the Ghetto carries the germ of its own destruction. The sidewalk merchant, he says, has found the Ghetto's opporunities too limited. Scores of hawkers, discouraged, have moved out. ‘Youthful deserters of the Ghetto have founded new racial districts in other sections of the city. Many veterans of Maxwell street have established large businesses on profits gleaned from sell- ing antique wares. Few recruits among the younger generation have been found legislation, encouragement of research and protection of home industries must come, in 1929 if possible, inevitably in any event, if we are successfully to meet the keen international competi- tion of the next decade with a sound, balanced program of development and conservation.” el selp PARIS BOURSE PRICES. PARIS, January 10 (#).—Prices were firm on the Bourse today. Three per cent rentes, 67 francs 50 § centimes. Five per cent loan, 96 francs | 2 francs 81 35 centimes, Exchange on Tondon, 124 centimes. The doflar was quoted at 25 {iancs 5% centimies, to replace the old-time merchants. Prof. Wirth believes a feeling of racial solidarity originally was instrumental in maintaining the Ghetto in its more prosperous days. The present exodus from Maxwell street, he predicts, will leave the Ghetto *“to the rats that haunt its streets at night.” TREASURY CERTIFICATES. (Reported by J. & W. Rate—Matuiity, 15, '1929. ELECTRIC POWER FIRMS SHOW EXPANSION Expansion of facilities by the electric light and power industry and & greater diffusion of its service: to all classes of consumers was a feature of public utility development in 1928. An out- standing characteristic was the con- tinued expansion of 24-hour service to smaller towns and villages, many of which previously had no service or only part-time service. During the last five years more than 4.000 new communities were reached with electric service for the first time. Interconnection of hydro and steam generating _facilitfes, concentration of base loan in large plants and the in- clusion of wide areas continued. Mass production and distribution of power thus were accomplished. Production of electricity for public use in 1928 was estimated by the United States Geological Survey at 88,000,000,- 000 kilowatt hours. This electrical out- put equals that of the rest of the world combined. During the last seven years the industry added 13,500,000 k.\lownns} to its generating capacity, it con- structed nearly 50,000 miles of trans-, mission lines about 22,000 volts, doubled | the output of energy and increased its | customers by more than 10,000,000. | At the close of 1928 total generating | capacity was 39,000,000 horsepower. 1 Cocoa Prices Decline. { The year 1928 in the cocoa industry | witnessed a decline in the spot price of | cocoa from 15, cents in May to the December level of 10 cents per pound. The decline was blamed partly on the | accumulation of cocoa in New York | warehouses, partly on the attitude of | the manufacturers in drawing from: their stores and not buying in the mar- | ket, and also by the dissolution of a British _combine which had controlled | most of the business on the west coast of Africa. , | Important events were the openings of exchanges in Liverpool and in Lon-| don, thus offering opportunity for ar: bitrage. In March, 1928, the sale of a | membership in the cocoa exchange was | reported at $5,600, the highest price | ever paid for an exchange membership. | Charter memberships sold at $300 when the exchange opened in 1925. Total sales for the year were well over 500,000 tons. | CHICAGO LIVE STOCK MARKET CHICAGO, January 10 (#) (United States Department of Agriculture).— Hogs—Receipts, 56,000 head; mostly ! 10 lower than yesterday's average; top. 9.15. paid for a load of around 210 | pounds. Butchers. medium to choice, | 250-300 unds, 8.65a9.00; 200-250 | pounds, 8.75a9.15; 160-200 pounds, 8.758 9.10; 130-160 pounds, 8.35a0.05. Pack- ing = sows, 7.75a8.40. Pigs, medium to choice, 90-130 pounds, 7.50a8.75, Cattle—Receipts, 8,000 head; calves, 3,600 head; generally steady; choi light yearlings, firm, top, 17.00; a part lond at 17.25; she stock, very uneven; cows, slow; heifers, fairly active; slaugh- ter classes, steers, good and choice, 1,300-1,500 pounds, 13.25a16.50: 1,100- 1,300 pounds, 13.25a16.50; 950-1,100 pounds, 13.50217.00; common and me- dium, 850 pounds up, 9.25a13.75: fed yearlings, and choice, 750-950 pourds, 13.50a16.50; heifers, good and choice, 850 pounds, down 11.50a14.00; common and medium, 8.25a11.50; cows, good and choice, 8.25a11.00; common and medium, 6.5028.25; low cutter and cutter, 5.5026.50; bulls, good and choice (beef), 9.50a11.75; cutter to medium, 7.7529.90; vealers (milk fed), good and shoice, 15.00a17.50; medium, 12.50a15.00; cull and common, 8.00a12.50; stocker and feeder steers, good and choice (all weights), 10.75a12.00; common and me- diam, 8.75a10.75. Sheep—Receipts, 14,000 head; mar- ket opening slow; demand steady; bulk moderately sorted lambs, 16.25a16.50; scattering of cholce kinds at 16.65a 16.75; little done of aged sheep and feeding lambs; asking higher. Lambs—Good and choice, 92 pounds down, 15.60a16.85; medium, 14.00a15.60; cull and common, 10.00a14.00; ewes, medium_to choice, 160 pounds down, 7.50210.50; cull and common, 3.50a 825. Feeder lambs, good and choice, 13.75a15.15. DIVIDENDS. Regular, c Rate Vo thle. ‘ompany ate riod. able. Am Dent St st of A 317 'Q Feb. Bf Am W Wks & Eiee ‘Archer-Danlels-Mid- land pf 1.7 Borden Co Cluett. Pea Gilletle Sate Ra Inter Printing gpazsse o Do_opf... Isle Royale Ne#h;'rryau J E 3 arlo ng uras Hoser dsc @ Jan. 26 sa IRE oo oo 350 EX Jan. 26 Initial. Jae N Mis Wedgwood T PR Raale "nY Archer-Dan Mid... Overseas Becuritle: Woolworth (P W) FINANCIATL, OLDEST National [ . yuot || Initiative y the District i of Columbia —1is one factor in commercial success. Good banking asso- TRAVELERS' | o000 is another. CHECKS & LETTERS OF CREDIT fThe Metropolitan offers you banking facilities that Wash- ington business has found helpful for over a century.- Profits, Over $2,00 National —115 Years Old Metropolitan Bank 15th St., Opposite U. S. Treasury SAFE DEPOSIT BOXES COMPLETELY EQUIPPED TRUST DEPT. 3% Compound 1 est p_———— . Capital, Surplus & Undivided Savings G. M..P. MURPHY & CO. WASHINGTON Richmond New York New York Stock Exchange Washington Stock Exchange Richmond Stock Exchange New York Produce Exchange New York Curb Market Copy of our “Fortnightly Review” on Request 1508 H Stree/ Connecticut at K Main 9600. Private Wire and Telephone te New York ANOTHER YEAR _now 56 TTH the passing of 1928, The F. H. Smith Company, founded in Janu- ary, 1873, rounds out 56 years of investment service. It is now serving investors in every state of the United States and in more than 55 countries and territories. ties are available for your January funds. This is the type of investment that thrifty persons have found convenient t, profitable and sound. Denominations: $1,000, $500, $100. Cos- pons payable semi-annually. Send your name and address on the form be- low for descriptive circulars and for our latest booklet. THE F. H.SMI1TH CO. Investment Securities— Founded 1873 Smith Building Washington, D. C. (815156 Street. N. W: - Main 6460) Branch Ofices in—New York—and Other Citles ADDRESS Before Renting An Office Investigate the Advantages Offered You in the Peoples Life Insurance Building Corner 14th and H Streets N.-W. Convenient to leading Real Estate Offices Trust Companies Title Companies Stock Brokerage Offices Treasury Department Surrounded by practically every variety of business establishment. Both Capital Traction and Washington Railway and Electric cars pass the door. The building is of modern fireproof construction with excellent elevator and janitor service and bright airy offices most conveniently arranged, single or en suite. Personal attention given to the requirements and comfort of tenants by the management. Dentists or Osteopathic Physicians would be inter- ested in a well arranged suite especially suitable to their needs, which is now available. For further information phone or call ugion ROBT. CALLAHAN Building Manager. Banks Metropolitan 5866 Room 201