Evening Star Newspaper, January 11, 1929, Page 15

CONVERTIBLE BOND ISSUES PROMINENT Trading Is Quiet, Despite Faverable Turn in Credit Situation. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, January 11.—The easier credit situation today, as represented in & heavy reduction in bank borrowings, a higher Federal Reserve ratio for the system and a repetition of the 6 per cent renewal rate for call money, should have made more of an impression on bonds than it did. While there was some slight gain in a number of the bet grade issues, it was not sufficient to indic: a definit> change. The m: thin and took offerings of sizea s poorly. Considerable new postponed because of the market tions and the feeling that the p rate for call money will not last. will be followed by another advance | lJater in the month. Two issues of bonds today overbal- anced the offerings of new stocks. One | represented municipal borrowing and the other a loan on real estate. There financing 15 being | B UNITED STATES. (Saies are in $1.000 ) Sales. High. Low. Lib3%s... 13 9923 Liblst4%s 11 1005 Lib 4th 4% 191 100 7 uss&ru 102 U833 3 US 451948, US4yss2. Close 9918 99 1002 1005 1004 1004 18 987 9818 528 106 18 35 11118 11030 11118 FOREIGN. Sales. High. Low. Close. 45 100's 100 100 8 100% 100% 100% T 100% 100'; 100% 26 96 s 96ty 17 100% 100 100% 3 100 100 100% 10 B8 88 88 96% 9615 96 9614 Arcentine 6= Ju & Arzentine May Acgentine et Argentine 55 '62. Argentine 65 A. Argentine Australia Austialia 5 Austria 7s.. 973 100 100 1051 1074 106 3 1000 100 32 1000 100 106 105!, 35 108 1074 11 106'% 106 8 > Belzium 6. . Balzium 61, 991, 40 91 94 30 95 915 6 100% 100 lmn 4 106% 101 2 1021 102 4101 100% 100% 10 “aora 4 has been no important out-and-out mortgage issue by ecither railroads or | public utilities for some time. i The junior rails made a befter show- | ing than of late. St. Paul adjustments | were up a point and there were good gains in Chicago and Alton 315s, Inter- | ational Great Northern adjustments. | aboard Air Line adjustments, which | have rallied several points this week. | Col and 2 better tone to the Erie, Misso m| Pacific, Rock Island and Southern Rail- way issues. ¢ Italian convertibles made the most fmportant gains of the day. At one time the Pirelli 7s were 7 points above yesterday's clesing. Advances of 215 to 3 points were scored in Fiat 7s and Montecatini 7s. Among the domestic convertibles In ternational Telephone 41,s, Public Serv- ice of New Jerscy 4!ss, International | Cements 5s and White Eagle Oil 5'is were prominent. There has been a good follow up also in the Porto Rican Amer- ican Tobacco 6s and Pathe 7s to better stock market conditions. Anaconda Copper 7s recovered yesterday’s loss of 3 points. i New Bond Issues Epecial Dispatch to The Star. NEW YORK, January 11.—The new issue of $5.000.000 Fuller Building (G. A. F. Realty Corporation) first closed ‘mortgage sinking fund 5'2 per cent gold loan maturing January 1, 1949, and priced at 100 is being offered today by the National City Co. and Blair & Co., Inc. Public offering is being made today by Estabrook & Co., Old Colony Corpora- tion and Hambleton & Co. of the new issue of $3,955,000 City of Baltimore, Md., registered 4 per cent stock matur- ing ‘October 1, 1933 to 1957, at 100. New Stock Ticker. NEW YORK, January 11 (#)—The nrst of the new high speed stock tickers, »hich New York Stock Exchange au- thorities hope will be able to keep up with 7.000.000-share markets. has been put into operation in the Belleair, Fla., office of Thomson & McKinnon, stock exchange brokers. Washingten Stock Exchange|! SALES. w::hxngum Rwy. at 10215 Barber & Ross 6155—8500 at 9415 ‘Washington Mkt. Cold Stg=. 55——51.000 at 96. Q’ipiml “Traction Co.—20 at 106%. CYestnut Farms Dairy pfd.—10at 10814, 10 at 10875, Washington Rwy & Elec. pfd.—15 at 9915, Riggs Nltinnal ‘Bank—>5 at 568, 1 at 568. National Savings & Trust Co.—10 at 520, 10 at 521. 10 at 521%. Mergenthaler Linotype—40 at 104, 40 at 104 10 at 19415, 30 at 10415, 20 at 04Y,. '.l'er Rgt. & Whrs, Corp.—10 at 51. AFTER CALL. Capital Traction Co.—3 at 106%;. Capital Traction 55—$2,500 at 102 $500 at 10215, $2.000 at 10212, Potomac Elocmc Cons. 55—$1,000 at 1015, ‘Washi gmn Loan & Trust Co.—2at 522. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid. Asked. & Telza. gole ... Am: el Andcostia, & Pot. R. R. 55 Ana. & Pot. guar. G & P Telenhone 55 ! Tel. of Va. 5 Gital Traciton KR City & Suburban 5s Georgetown Gas_1st 5 Potomac Elec. st 5s.. Potomac Elec' cons 5% . Wath: Riws, & Elec re MISCELLANEOUS. Barber & Ross Inc 6! Cham-Vanblt Hotel §ias Shestnut, Farms Dairy 6! Watdmen Park Hocel 375 STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga.. » Capital Traction Co! Washington, G N. St. Poton » ofd Potomac Elec S g Pl vash. Rwy. & Elec. com Wash, Rw Fm. pfd National Ca Columbla Commercial Lincoln 5 National \mmpnman Riggs . Eecond National Bai TRUST COMPANY. American Security & Trust Continental Merchants® Rw : al & Trust Loan’ & Tris SAVINGS BANK. iremen s National Union’ TITLE I Columbia_Title al Estate Title le & Inv Co of Md. com Wash. Cons. Title pfd..... MISCELLANEOUS. Barber & Ross. Inc.. com. Chevy Chase Dairy pid Chestnut Farms Chestnut Farms D: Col. Sand & (,,_,\,‘ com -American Co. American pfd com Marseille 6s. New So Wales 58: Norway 5%s. Norway 6%s 1952., Orient Dev deb 6s.. Pms-Ly Med 6s. Pa Paris 0| leans 5 Peru 63 67 w1 Peru 6s ctfs. Peruis... Poland 6s 40. Poland 7s (rets). Poland 8s...... Prague 7%s. Queensland 7s. Rhinelbe Un 7 RhineWst EP RhineWst kP 6 Riode Janeiro 6%ss 22 95 Rome 6%s. . . San Paulo City 8s & E gen, 8541500\ 00 paulo 3 1936 Sao Paulo 1950, Saxon (PW) 7s. Semne is 42... Serbs Cr Slav 7s. Serbs Crot Slo 8s Suinyetsu 6%s Soissons 6. Sweden 535 Swiss 5%s 1946 Swiss Confed 8s. Toho El Pow s Tokio 5s. . Tokio 5 Utd Kingm 535 29. Utd SteamCopen 68 Am Chain 6s " Am NatGas 6 2 An Smit& R 1st 5s. 10 101 Am Sugar Ref 6s... AmT & Teltr AmT&Tcl trjs, AmT&Ts15s Am Tel & Tel 5%s. 104% 1031 104% 6 1005 100 100 26 931z w3 934 L LR 3 102% 101% 1027 1.3 36 36 3 101% 101% 101% 0ty 901 Canada Chile 65 '60. Chile 6561, Chile T8 1943....., |Chinese Gov Ry 5s. Christiania 6s Colombia 6s Con Pow Japan 7 1024 102 109% 10 8 9 110 | Denmark 4 16 837 st 16547, 1 103% 10; Dutch 16862, 5 1035 10 131 Salvador 8s°48.. 4 110% 110 1104 Finland 538, ...... 90'3 903 901y Finland 00 10015 100 Framer French French 71 German Ts. Ger Am Banl Ger Gen Elec 7s... Haiti 6s. . Hungary 7%s..... Free State 5s, 103 s 103% 124 112 06% 106% 106% 97% 97 97 103 103 103 100% 100 100% 100% 100% 1004 9 9 97 L n 94'p 91 921 92y 9 101% 101% 10 991, 99 995 9915 994 9914 21% 21% 21% 90% 89% 90 7 100% 100% 1004 4 105% 105% 105% 2 94% 94 9% .20 94% 94 94 Norway 55 1963:... 9 974 97 974 27 101 100'% 101 4 102% 102 1 102 4103 6 97 1 1 1 1 1 e ol SZaan Japanese 4s Japanese 6%s. Lyon 6s. . * aale wBonean Mexico 45 '] Milan 6%s...... Netherlands 6 Netherlands Norway 6s 1944 s. 5“‘1 8913 ] 101‘: I()lly 1 105% 105% 105% I10% 1107 1100 IUU yfi 945 12 106% 106 3 106 91y Rio de Jan 8s 1946. . 106 tio Gr Do Sul 8s. 1051 105% oL 91 « 104% 104% 2 102% 102% 1024 103 103 6 110% 109% 110% 98'c 98% T T B9% 8I% 4 118'% 118% 1 103% 9% 96 51551961, Utd Kingm 5%s 37. Yokohama 6swi... 13 964 96 MISCELLANEOUS. Abram&Straus 5lze 33 117% 117 117 AmAgriChem 7%s. 1 1047% 104°% 104% 2 9% 981 981 9% 96 96% 100% 100% 6 101% 104'% 104% 24 99% 99y 99y 18 104% 104 104 37 1054% 104% 105 '7 107% 106% 107'n Am Water Wks 5s. 91 9 9. Am Wrtg Pap 65’47 Anaconda 1st 6s. Anaconda cv db 7 Armour&Co 43 Armour Del 51 Associated Ol 6s. Atl Guif S 5 Mrm-lml RBarnsdl 65 w o war. Bell Tel Pa 5s B Bell Tel Pa 55 C. Bethlehm Stl pm 58 Beth Steel 535 53., Bethlehem Steel 6s. Bklyn Edison 5s. .. Certain-Td5 % srets Chile Copper bs, Colon Oil 6 '38 Col Gas&Ll deb 5 Con Coal Md 1st bs ConGas N Y 5%s., Consumers Pow 5s. Cuba Cane cv Ts. Cuba Cane 8s...... Cuban Am Sug 8s.. nmym(.) 1 7% T1% 71 stroitEdisonasi0. 11 102 1023 1023 xuunu Edison 6s.. 1 1074 107': 107 Dodge 6s. +166 10314 102 % 27 103% Duquesne 435 67.. 30 100% 100% 100% Fisk Rubber 8s. 1114 114 114 S 9RTh 9815 98Y « 103 18 1074 107% 59 9312 86 8o 5 100% 100% 100% 17 101" 101 101% 3 104% 104% 101% 3105 105 105 19 Y25 923 Intl Cement 55 48.. 105 111 110 110 Intl Match 5s 47 19 98 98 98 101% 1011 10 1074 107 2 1004 100! 20 103% 10 H 104% 105 1044 104% 15 10715 4 105 2 105% 103% 101 7 79% 19 9 88 198 R 8 103% 103 103 25 106% 106 114 104 Gen Mot Ac C Goodrich 6%s. Goodyear 5s rets. Hoe & Co 6 Humble Oil 5s. . Humble O & R 5 [llinols Beli 1st Indiana Steel 24 m,x 11 9415 7 110% 1093 110 5134 1231 1331, 10 104% 1040 1011, 1106 106 106 1110 110 110 3102 1029 1024 110U 1013k 1017 10 104% 1043 1014 13 120 119 120 63 116% 115% 115% 16 100% 100~ 1004 Bi% BOK Bow 86% RTIL 1035 10 99% 993 105 10 9915 9 4% Int Tel&Tel 4%s s i Kayset J & Co 5 Kan City I' & L o8 Loew’ Loew Lorilla Lorillard Luouisy ManatiSu 14 100 Mid-Con 2 105 Midvale St Mont Pow 55 43.... 1 1031, 1041 1031 Mont Power deby 7 101 1004, 101 Mor's&Co 15t 4768, 2 BEU R84 R8N Nat Dairy 5% 0 96 96 96 at Radiator 61 1 T4 TN TN N Y Edison s 5104 1037% 1037 NY Tel 63 41. 107 105 106% North Am Edi 20 101 101 101 15 101% 101 101 Gor Ohio Tr & L 63, 1 102% 102% 1024 3 i 5 w sodward % Loty d. Ex-dividend” " ? ¥ 8 101% 101 101 4105 105 105 8 1024 102 102 or States Pow 58, Nor States Pow 6s. Pacific Gas & El bs. . 15 104% 104 1045 THE EVENING Sales. PacT & T 1stss... 3 Pac T & T 6S62.... 3 Pan-Amer Pete 6s. Paramount 6s 1947, Pathe Exchange 7s. Phila Co 55 67 w 1 Phila&ReadC&I 5. Philips Petro 5%s. Dierce-Arrow 8s Por Ric Am Tob Postal Tel & C Pressd Steel Car | Public Service 0‘&5 1 l 5 Punta Alegr RemingtonAr 65 Rem Rnd 5% w Sinclair Ol 65 I Sinclair Oil 6148 Sinelair 011 7s neiatr Crude 5%s 20 3 OrienteTs. Tenn Copper 6s'41. TennkilecPow 6s 47 nscontl Oil 6% United Drug US Rub 1strt §s.., U ub Tles. l, Steelsths.... Utah Pow & Lt is \ d]llm?[‘n\\r olas. West Westn Westin White Eagle O 5%s }\\Ill\x(w 6% Wilson & Co 1st 6s. WinRepeatAr 1 %s. Yngstn SET 5s wi. Ala Gt Sou 45 1943, AT&SKE eve 45 0, Atchison ad) 4s. Atchison gen 4. Atlantic C L 1st 4s. B & 0 Gold 4s B&Orfimp 6s. B & O SW5s 50 B & O Toledo 4: Bang & Aroos 48 Boston & Maine 5s. hAvV5s, lec 6148, Elev 6138 19 Buff K & Pitt4%s.. Can Nat4%s30.... Can Nat 4%S 54.... Can Nat 4%s 57, Can Nor 4% s 1935 Canad North 7 Canaa Pac deb 4s.. 4155 46. Car Clinch & O 5s Central of Ga 6. Central Pacific Chesa Corp 58 wi.. 42 | Chi & Alton 3 Chi & Alt 3% CB&Q4s 77 B ChiB & Q 1st rf bs. CB&QIIldivis.. Ch 1 gn5s5l.. 6 ChiGt West 4559., 10 Chi Ind&L gen 58.. 2 ChiMISP&Pachsih. §8 CMSP&Pacadj5s03.951 Chi& NW gen 4s... 7 Chi NW 4125 2037., Chi& NW Ts. Chi Rys §s. Chi R1& Prf4s... CRIPac4leswi., ChiTH&SEbs... Chi T H inc 6s 60 Chi Un Sta 4%s..., 2 CCC&StL5sD... CCCa StLrfésA, 30 Cuba R R7%S...00 Cuba Nor %8 cts. . Diel & Hud 1st rf 4s. Del & Hud 5%s Del & Hud 73 30. Den & 210 G en 4s.. D Rio G West 55. .. DRG & Wst 5578 Erie Gen 4s. . Erie conv 45 B. Erie cvt 53 67 w trie conv ext 7s. Fla kast C5s 4. Gr Trunk stdb 6s Grand Trunk is. Grt Northn 4%s &, Great North 5s Great Nor gen 7s Hav El Ry bs 52. Hay £1 Ry 5% Hud & Man aj 58 Hud & Man ref 5s.. 111 Cent ref 4s. 11 Cent 4%s 66 1 Cent Chi 4%s... 111-C-C-StL&NO 58, Int Rapid Tran bs.. Int Rap T 58 stpd. Int Rapid Tran 6s.. Int Kap Trans 78 Int Gt Nor 55 1956, Int & G Nor 1st 6s. . Int&GtNor ad) 65 52 Kan City Ft S 4s... Kansas City S is. Kansas City S 5s Kan City Term 4 Lake Shore 4s 31 Lehigh Val cn 4s Lehigh Val 55 2003, Long ISrf4s49.... Louis & Nash 5s B, Louis & Nash 7s... Market St 7s 40 Mil 1 Ry & L bs 61 StLref 4s.. Roam~ E ot - o B e NS nEm LR RGN anE maeD Mis38gtd M St P & SSM 53%s. M StP & SSM 6%s. MK & T 1st 45 MK&T4sB M K & T ad) & MK & T prin s A, Mo Pacific gen 4s. .. Mo Pac 58 A 65 Mo kac 5s F 17 Mo Pacific 55 G 'T! Mont Trm ref 5s 41. Nassau El 4551, New Or Term 4 NOTex& M5 © PR ROmcSaRE o~ S e N Y Cen gen $%s.., N Y Cent deb 45 NYCrfimis NYCentrths NYCh&SIL b¥sA. NYC&StL6SA.. New Haven 3% 56. Y N H & H 4556, NY NH&H db 48 57, Y NH & H4ls.. 2 NY NHé&H cv db 6s NY NH&H clt 6s... Ymsusb ) te Ry 4%4s.. 2 \'.s\u&\\nl.on s Y W&B4%s.. Norfolk & W en 4s, Nor rac 3s 2047 Nortnern Pacific 4s. Nor Pac 4155 2047 Northern Pac is D. Northern Pacr 1 68, Ore Short L rfs Pennsyi con 4 Pennsyl gold 7s. &StL5sA.. StL 5s B 5., Portiand EI P L 65, Port R L & P 5s 42, P teas I:l/\rkul.,w,s StL IM&S gn G831, StL&SPrak StLS W ist 4 StLS W con 4 San A & Arn P 4s.. Seab A L ref 4s. SeabAL ad) 65 1949 69 Sou Pac 48 29... High. Low. Close. 102% 10219 102% 104% 104% 104% 10415 10415 10415 100% lnu 1 100 SL 10214 aliy a7 . 1901 10315 107 104% 98 1064 107 56 100t 94 104% 98 1063 % ](mv; 107 100% RAILROAD. 91 90 87% 9; FUTEN 1017 10315 1097 2 111% 8ty 983 1010 104% 102 9T 10274 101 6 90% 1195 6 1045 100% 9144 8714 8814 8712 951 901y 94 102% 1023¢ 1047 1047% 102% 1025 1071 100% 1091 103 101% 101 97 101% 98% 100% ll“ 190'% 86 100 1031 98% 1011y 100 203 111% 82 60 8274 96 92 100% 954 103 8% 100% 20 50 99 92 1001 8. 852 104 100% 6% 101% 98Y% 983 9% e 106% 106% 102 0% 119% 104 106% 100% 997 9874 1081 10315 110% 1025 108 107% 4 100% 90% "99% West Shore 48 ::m( 1 '.mn : ‘falrl" good demand, standards at jand selects at §: | stock sold '\lmmd $2 | mand ing dropped lor TAR, WASHINGTON, e o _BONDS s ) RN PRODETS Received by Private Wire Direct to The Star Office DENAND INCREASES Fish Receipts Light—Oyster Supplies Plentiful—Meat Sales Gain. Municipal Fish Market this morning presented a scene of increased activity. | Receipts of fish from the Potomac were light, but lower river oystermen sent large quantities of bivalves that were in 50 o gallon. shell les m from lhv dull sbusequent to sason. Buyers Early morning s: ket indicated reco conditions during nd the Christmas holiday | were “out in_increased number s and meat ducts creased the outp ; ;;’ lmh so reported fairly good de- for chickens, and geese end a light demand for turkeys. No changes in butter and egg prices were reporied this morning, egg prices hav- veral cents the past week increasing sal There was the usual attractive dis- plays of fruits and vegetables to claim the attention of the retail dealers, sup- plies having been received from nearby and distant points. Today’s Wi holesale Prices—Jobbers® Prices Slightly Higher. ~One-pound prir store packed, Hennery, 40; fr current - reccipts, two, Butter- tub, 47a4 oS — 37a38; 30832. Poult! chic! 28a30 orage, 50a60; old, Spring chickens 10; Leghorns, fowls, 30a32 capons, _ large, dicks, 32033; geese, 1.0 Meats—Beet, top, : common, 17218 pork loins, fresh shoulder: 7; smoked hams, 25a27; smoked shoulders, 16a17; bacon, 20222} lard, in tins, 13; in packages, 14. Live stock—Calves, 162a17; lambs, 13al4. 25230, 25a30; Lmls 80a medium, 2115 lamb, 30 , 22a23 Game—Rabbits, Frueit and Vegetable Review. The daily market report on fruits and vegetables (compiled by the Market | News Service Bureau of Agricultural Economics) says Apples—Supplies moderate; demand moderate, market steady; 1s, sales reported; boxes Delicion 5; Romes, 2.25 Virginia, U.'S. 1608 bushel baskets, . 2‘_) inches up, Staymans, inches. up, : U. 8. 215 inches up, s, 1.75a1.90. Cabbage—Supplies moderate: demand moderate, market ‘steady; New York, sacked per cwt., Danish type, 2.75a2.90; South Carolina, barrel crates, pointed type, mostly 4.25; few, 4.50; 1'2-bushel hampers, pointed type, 2.25. Celery—Supplies ~ liberal; demand light, market about steady; California, crates, 6.50a7.00; New York, 23 crates, 3.50. Lettuce—Supplies moderate; demand moderate, market steady; Arizona, crates iceberg type, 4-5 dozen, fair quality, 2.75a3.25; California, lmpmml Valley crates, iceberg type, 4-5 dozen, .50. Onions—Supplies light; demand mod- erate, market steady; Michigan and Ohio, 100-pound sacks, yellows, U. S. No. 1, medium to large, 4.8525.00; Hol- land, 110-pound sacks, yellows, No. I, 4.75. Pntames—SuppH(‘s moderate; demand moderate, market steady; New York, round whites, U. S. 1, 2. .35; Pennsylyania, 150~ pound sacks, round whites, U. S. "No. 1, mostly 2.25. Spinach—Supplies moderate; demand light, market steady; Texas, bushel baskets, Savoy type, best mostly, 1.20; fair quality and condition, 1.00a1.10. ‘Tomatoes—Supplies moderate; de- mand moderate, market steady; re- packed; unknown origin, threes, Tipes wrapped, fancy count, 2.25a2.50; choj count mostly 2.00; sixes, ripes, \\rapped fancy count, 4.50a4.75; choice count, 3.75a4.00. Originals — Florida, sixes, ripes and turning, wrapped, fancy count, best, 3.00a3.50; ordinary condi- tion, spotted, low as 1.00: choice count, best, 2.00a2.50; -ordinary eondition, spotted, low as 75. Sweet potatoes—Supplies moderate; demand light, market about steady; Maryland and Delaware, bushel ham- pers, yellows, No. 1, 1.85a2.00; nearby Maryland, bushel baskets, Nancy Halls, No. 1, some fair condition, 1.75a2.00. %trlng beans—Supplies very light; demand ngm market firm; Florida, few sales, 7g-bushel hampers, green, 9.00. Peppers — Sunplies light; light, market slightly weaker; pepper crates, fancy, 7.5028.00. Squash—Supplies very light; demand light, market steady: Florida, bushel demand Florida, crates fair quality and condition, 2.75. Cucumbers—No supplics on the mar- ket. PCH%SUD]}H{W light: demand moder- ate, market steady; Mexico, 45-pound crates, 7.00. Strawberries—Supplies very light; de- mand light, market steady: Florida, pony refrigerators, Missionarys, 60a70 per quart. Cauliflower—Supplies light; demand light, market steady; California, pony crates snowballs, 2.00a2.2: Carrots—Supplies light; demand light, market steady; California, West- ern lettuce crates, bunched, 3.50a3.75. Beets—Supplies very light; no sales reported. Oranges—Supplies moderate; demand light, market steady; Florida, boxes No. 1 medium, 3.50a3. Grapefruit—Supplies moderate; de- mand moderate, market about steady; Florida, boxes medium size No. 1, mostly 3.50; No. 2, 3.00a3.25. Railway Orders Cars. NEW_YORK, January 11 (/).—Nor- folk & Western Railway has ordered 10 all-steel baggage and express cars and five all-steel baggage and mail cars from the Bethlehem Steel Co. TREASURY CERTIFICATES (Reported by J. & W. Seligman Rate—Matuiity, Bid. 3%ps Mar. 15, 1920 22 37,3 Mar. 15, 41%s June 15. 4%us Sept. 1 PAR‘IAS BOURSE PRICES. PARIS, January 11 (#).—Prices were firm on the Bourse today. Three per cent rentes, 68 francs. Five per cent loan, 96 francs 80 centimes. Exchange on London, 124 francs 12 centimes. The dollar was quoted at 25 francs 593 centimes. e: Sou Pacific ref 4s.. 26 102% 10143 65 63% 9415 899, 8814 9814 w:x". 1011 TexArk FS § Tex & Pac 5s B 19 Third Averef 45 60. Third Ave adj 5s. .. Unfon Pac 1st4s... 2 Union Pac 1st if 4s. 10 Unton Pacific 45 68. 16 Union Pac 4148 67.. 16 Virginia Ry 15t 6s.. 18 10414 1 24 8 61 G 9414 898 B84 981y 104 Va Ry & P is . 1100% Wabash 1st 5s. 6 101% West Maryland 4 6 814 83 100% 101% 814 86 38a40; | D. C, FRIDAY. STOCKS SHOW Special Dispatch to The St NEW YORK, January 11.—Radio and musical instrument stocks have had the sharpest rises of any group since the December reaction. And while many can see a prosperous future ahead for these i ries, they find it hard to justify present prices from the stand- point of assets or earning power. The radio industry is as yet an in- fant industry in which progress is going ahead rapidly and where new inventions | can suddenly throw millions of dollars | of goods into the obsolete class. While llarmr companies are striving to sta- | bilize the industry, it is still possible for a new company fo gain a'good foothold | by suddenly striking the public’s fancy. { By far the largest in the field is the 7 | Radio Corporation. So far as its radio receiving set business is concerned, its s a leader is securc in that in- stry, for it controls many basic pat- | g ctures a complete line and nod dealer organization. It also owns a substantial interest in National Broadcasting Co. Corporation Policy. 1t Is now becoming quite obvious that the Radlo Corporation intends to con- fine its efforts to the amusement field and proposes to pass its radio message ess along to a new \\hxch will probably work in harmony with Wester's Union. The interests of Radio Corporation will then be turned.towards radio, talking movies, amusement, television, and talking ma- chines. Together with General Electric, | Westinghouse and Western Electric through subsidiaries it controls basic patent, used in the new talking movies—Vitaphone, movietone and pho- totone—which should begin to develop important earning power soon. Not being satisfied with the technical end of talking movies Radio has entered the exhibiting and producing end by formation of Radio-Keith-Orpheum, which controls a large string of theaters which give a working interest in F. B, O. and Pathe, movie producers. Radio is also taking an active interest in television, or the projection of pic- tures by wire or wireless. It will be some time before the profit possibilities of this venture can be estimated. When such progress as this is being made by the Radio Corporation, most of whose stock is closely held by Gen- eral Electric, Westinghouse, the Fisher Bros. and a few individuals, it is evi- dent that something besides an “un- wieldy short interest” caused the stock to rise from 80 to 420 during the year 1928. The chart shows that the rise was especially abrupt when the talk- ing movie industry was proved a success in the Spring, and again in the Fall and | Winter, when the Keith-Albee-Orpheum and Victor Talking Machine deals were being completed. Throughout the year, moreover, the radio receiving set busi- | ness went ahead at a good pace. Radio and Phonograph. 2 | Inrecent years it was natural to com- bine the radio and phonograph into one instrument. Radio and Victor, as well as Radio and Brunswick, have been marketing their products in one cabinet |and now the merger will bring this —_—_— REPORT OF CONDITION of the Bank of Commerce & Savings Of Washington, In the District of Columbia, at the close of business December 31, 1928, $1,414,402.21 248.15 United Siates (.owmmnu se- curities owned 3 . Other bonds, stocks and se- curities owned ....... - Banking house. farnitare 96.800.00 264,065.53 © 294.135.63 . Cosh’ and dulv h’nén bhanks i 21008306 . Qutside check: +.$2,320,442.36 £100.000.00 £ 150.000.00 Uhfivided profits_nee 23,967.50 . Reserves for interest, ‘iaxes and’othor expenses accrued und unpatd 2 . Due_to ban| luding cer- {incq ‘and casmicrs: chnclu outstanding Demand drpnsus 3. Time deposits. Bills payable and Total ... Washington, I, FRANK O 1,00 035.000.00 $2,320,442.36 Dlatr ct_of Columbia, ss: S, cashier of the above- named DAk o solmmly Fyear that the sbove statement is true to the best of my knowledge and belief. FRANK OWINGS. Cashier. Subscribed and sworn to before me this 10th day of January, 1920, HARRY S. WOLF, Notary Public. 32 ROSENBERG, EL!E SHEET: SANDER fl JOHN M. RIORDON. Directors. _ No. 5. Correct—Attest: REPORT gl“ of tl eventh Street Savings Bank Of Washington, In the District of Columbla. at the close of business December 31, 1928. District CONDITION he . Loans ana dcosnts .$1,568,583.95 2. Overdrafts 192.01 . United States Government se curities owned . Other bonds, stocks curities owned . 1,600.00 110,198.89 and = fixtures, 52.568.32 195.406.15 1,334.81 [3$1,000,884.13 . Cash and due from hanks. . tside checks and other cash LIABILITIES. . Capital stock naid il Surplus . . Undivided profits—net "/ 1 . Reserves for interest. taxes and other expenses accrued $100.000.00 54,172.87 L 6,000.00 Khra‘:. ¢ checks outstanding .. - iagenes Demand deposits . 23. Time deposits Total .. District, of Columbia, ss’ OHN D. HOWARD. cashier of the above- naned. DA, g0 SOlmnIY swear | that the above statement Is true to the best of my knowledge and belief. J. WARD. Cashier. Subscribed and’ sworn to before me this 10(h day”of January, 1929, Seal.) H. P, HOWARD. NotaDy" Puntic. AUGUST H. PLUGGE, S. SHRE) CHAS. JOHN' R. \\mmn" Directors. 'ANNUAL REPORT. Union Trust Co. OF THE DISTRICT OF COLUMBIA. To the Controller of “the Currency, as reauired by Section 16, Act of Congress, ap- proved October 1. 1890, for the year ended December 31, 1928, aut| Correct—Attest: Capital fully pa 2,000,000.00 Gross earnings coliecied for year ended December 31, 1928 . 847,362.46 Total expenses for'year €nded o r 31, 1928 315,377.88 stock id 152,120.03 220,000.00 BT} 8. §9,195,735.90 4709.75 Due depositors .. Dividends unpaid Tor tuxes, interest” and 86.092.06 surplus. utidivided ‘profits ‘after deduction of wbove.items 1. 153.830.24 SRR S STELLWAG D 7. Koufman, James B. Lambie, 3 Harty Covnion, ©. Newcomer, ; Thomas, Duniop, residen . Olds, 8. Harban, James B. 166 F. ilkon and Georgs B Floming direciors of the Unlon Trust Company of District of Columbia. o et by Jolmenty awear that the above statement is true to the best of our knowl- edse and bellet DWARD J. STELLWAGEN, dei IRVING ZIRPEL, Secretary. EDSON 8 . Treasurer, RREAN, GEORGE E, FLEMING, JAMES B. LAMBIE, CHARLES' F.” WILSON, ectors. Dire (Total number of directors am trustees of this company. twenty-two.) Subscribed. and Sworn io before me this Sacaly J;."B'U”i"ron wuwwuon-r tary Publie. t; T ires ANUARY 11, RADIO AND TALKING MACHINE FINANC NEW CONSTRUCTION RECORDS FORECAST Indications Point to Increased Activity in the Building Industry. 1929.° SHARPEST RISE business closer to Radio. The advance in Victor stock has been proportionately as great as the rise in Radio since the middle of 1927. Because of the rapid progress made by both companies and the fact that they are entering many new fields stocks must necessarily be highly specu- lative. At the same time, with the proven success of the radio, talking movie and phonograph industries many believe the prices of these stocks are not out of line with their prospects. Special Dispatch. to The Star. NEW YORK, January 11.—There 4 is every chance that building rec- ords will be broken in the next three or perhaps six months. of construction in the first half of 1928 was nearly 7 per cent higher than in 1927, and if the 1928 record surpassed it will give even the pessimisf in the building industry a different idea of the housing requirements of the Na- tion in the future. NEW YORK BANK CLEARINGS. | NEW YORK, January 11 (Special).— New York bank clearings, $1,976,000,000; New York bank balances, $145,000,000; ‘The amount | ¢ hav 1t has become a habit to shiver over | b a possible slump in building, but there | e IAT Lol | and plants will be subject to wide expan~ sion this year. Building costs have been pretty thor- oughly stabilized. The basic building materials are showing only slight alter- ations in price. Wages are high, but efficiency is high also. All in all, it will probably cost almost the same for construction in 1929 as in 1928. As to housing or dwelling shortage, there are more empty houses and apart- ments than there were a year ago, but in most localities it is. the older-fashion- ed and less desirable quarters which are going begging, ‘The real estate market is active. A report by the National Association of Real Estate Boards shows that in 35 per cent of the principal cities there were more transfers than a year ago. In 35 per cent there was no change land in 30 per cent there was a drop. Only 15 per cent of the 341 cities can- vassed showed overbuilding. The makers of building specialties, heating plants, plumbing supplies and hardware will stiff competition, but plenty of iness to go after. New York Federal Reserve credit bal- ances, $131,000,000. FOREIGN EXCHANGE. (Quotations furnished by W B, Hibbs & Co.) Nominal gold Sellinz value (or var) 4.8665 has_been nothing to warrant it since 1 volume up. The high rate for call| money in the stock market was taken by some as an indication that there might ; be a shortage of funds for buildi purposes, but nothing of that sort has appeared. In fact, 50-story skyscrapers and other huge projects have been financed with unusual celerity and ease. The building situation is being helped | by the general business activity which | has necessitated the expansion of au- tomobile factories, rayon mills and a | score of other manufacturers, The poten- tialities of the electric light and power indutsry have only been partially guaged Reserve District No, 5. London, pound. . Pri; ne Copenhagen, cri Gslo.. crows Stockholm, crown Charter No. 4247. REPORT OF CONDITION OF THE Lincoln National Bank Of ‘Washington, in the District of Columbia, at the close of business on December 31, 1928. RESOURCES. 1. Loans and discounts . . Overdrafts . 3. United States Gover 4. Other bonds, stccks and securities m\ned 6. Banking nouse, $344 517.36: furniture and fixture: 7. Real estate owned other than banking house. .. 8. Reserve with Federal Reserve Bank. 9. Cash and due from banks 10. Outside checks and other cash item: 11. Redemption fund with U. 8. Treasure 14. Other assets . 369.853.50 242,92512 397.385.22 817,381.65 6,000.00 Total.cciisainiraesannnnnnnns L 15. Capital stock paid in et 16. Surplus . 17. Undivided 18. Reserves for dividends, contingencies 2. CDircutl(;aLlngknntcfi outstanding.. ue to panks, including certified and ca g 39 Dot b g d and cashiers’ checks ou-standmg | 23. Time deposits 24. United States deposits 26. Bills payable and redisc 31. Other liabilities $400,000.00 400,000.00 249,608.43 20,000.00 113,500.00 390,319.45 . 3,494,777.42 . 29,600.00 500,000.00 65,000.00 Washington, District of Columbia, JAS. A. SOPER, cashier of the abov that the above statement is true to the best of my knowledge and belief. JAS. A. SOPER, Cashier. of January, 1929. .LENA D. REED, Notary Public. H. R. NORTON, H. T. OFFTERDINGER, GEO. C. PUMPHREY, S. C. REDMAN, (Seal.) Carrecz——mu-st STEPHEN M. CHASE, FLOYD C. DAVIS, MELVIN C. HAZEN, LEROY W. HERRON, PETER LATTERNER, Charter No. 5. Subscribed anc. sworn to before me this 9th day HE Directors. Reserve D REPORT OF CONDITION e ugtos F THE National Metropolltan Bank Of Washington, in the District of Columbia, at the close of busin December 31, 1928, s RESOURCES. 1. Loans and di 2. Overdrafts . . 3. United States Government securiti 4. Other bonds, stocks, and securities cwned 6. Banking house, $818,180.11; furniture and nxtutcs, . Reserve with Federal Reserve Bank 9. Cash and due from banks 10. Outside checks and other cash items 11. Redemption fund with U. S. Treasurer and d Treasurer 2, 435 303 73 818,204.63 837,294.11 1.308.858.98 4,196,949.62 7,171.49 $19,174.00 14. Other assets . ‘Total 40,000.00 5.83 .$21,232,108.65 LIABILITIES, 15. Capital stock paid in. 16. Surplus . 17. Undivided profits—net 18. Reserves for dividends 19, Reserves for taxes.. 20. Circulating notes_outstanding. 21. Due to banks, including certified and cashiers 22, Demand deposits. . 23. Time deposits 24, United States 31. Other liabilities...... Total $800,000.00 540.009.00 2, 394 753 19 11,636,519.48 3,902,813.63 161.212.59 29,857.67 cessrsescancnssasss..$21,232,108.65 City rx)r Wl;hlnfitggsls)glrict of Columbia, N, cashier of the above-named bank, d I r that the :bove statement is true to the best of my knowledge :n;ogl‘:gil? < C. F. JACOBSEN, Cas suburlhefl and sworn to before me this 9th day of January, 1929. e (Se: ROBERT E. BRIGGS, COI’XERC!;‘T!ANQSQ: Notary Public. IUR T. BRICE. WALTER BROWNLI FREDERICK DeC. FAUST, R. M. KAUF‘FVIANI&Y O. H. P. JOHNSON, ARTHUR O'BRIEN, WM. F. GUDE, HENRY LEONARD, W. R. TUCKERMAN., J. C. WEEDON. CHARLES JACOBSEN, A. A. HOEHLING, HUGH REILLY, GEO. W. WHITE, C. F. R. OGILBY, Directors. REPORT OF CONDITION of the American Security & Trust Co. December 31, 1928, RESOURCES. 1. Loans and discounts 11,875.94 3,821,247.70 7,327.813.34 3.858.79 1,655, 149 84 a8, 3. United States Government securities owned 4. Other bonds, stocks and securities owned . 5. Customers’ liability on account of accepumcu executed . 6. Banking houses, $1,400,914.83; furniturs and fixture: 7. Real estate owned other than banking houses 9. Cash and due from banks .. 10. Outside checks and other cash items . 11. Redemption fund with U. S. Treasur Treasurer 14, Other assets . Total covvvvvnrnennnnnnes 0 336 862. 31 400.00 310,770.51 .$30,340,887.07 LIABILITIES. $3.400.000.00 3.400.009.00 352,503 81 229,148.2¢ 166,996.84 1,253,303.25 .878.014. 15 13,061 NJ.AUOUO 454.851.25 3.858.79 4,915.39 +.$39,340,887.07 15. Capital stock paid in 16. Surplus . Undivided prnfltfi—-net . . Reserves for dividends, co . Reserves for interes including ' certificd and treasurers outstanding . . . Demand deposits .. . Time deposits . . United States deo:lh . . Agreements to repurchase U. S. Government or other secur ties sold . . Acceptances executed by other banks for account - Other liabilitics Total covvvivnnenennnnnns City of Washington, District of Columbia, ss I, CHARLES E. HOWE, treasurer of the above-named bank, do solemnly swear that the above smcmem is true to the best of my Imm\ledge and belief. CHARLES E. HOWE, Treasurer. Subscribed and sworn to before me this Bth day of Janunry, 1929. (Seal.) RSEY, Notary Public. My comlansmn expires 15th July, 1932, Correct—Attest: CHARLFS A. SPALDING, W. W. EVERETT, GEO. W. BROWN, CLARENCE F. NORMENT, JAMES F. HOOD, NEWEBOLD NOYES, HOWARD MORAN, J. PHILIP HERRMANN, WM. J. FLATHER, Jr., C. A. ASPINWALL, HOWARD S. REESIDE, G. PERCY McGLUE, B. F. SAUL, W. S. CORBY, HARRY K. BOSS, GILBERT H. GROSVENOR, CORCORAN THOM, JAMES M. GREEN, CHARLES J. BELL, o ..$4,755,833.01 | . 828.28 || 601,895.00 ; 953,784.26 | 112,874.24 | 1087261} esesansesencasess.$8,260,632.89 | \ 2,606,827.59 | +$8,269,632.89 | e-named bank, do solemnly swear | i Sll 551 703 Gfi | 933,702.34 | Of Washington, in the District of Columbia, at the close of business on | .$19,941,602.06 | The amount of building carried | over into 1920 will go far to keep the | ;m:.- ot st Fel Checks to be maiied not close. R. G._LADD, Real Estate i Financing Second Trust Notes purchased at reasonable discounts, secured on District of Columbia and nearby Maryland property. We Solicit Your Application ry 1921 Transfer books will Assistant_Treasurer, || National Mortgage & Investment Corporation 1004 Vermont Ave. N.W. Main 5833 Continental Trust Co. 14 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Checques B Collections Real Estate Loans Collateral Loans Investment Securi Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets i§ wWADE H. COOPER, President Capital, $1,000,000.00 Start 1929 with a Definite Investment Plan You can easily build an indepens dent income by setting aside regularly every month a definite amount for investment. The amount may be large or small—a: much as you can afford. It’s regu- larity of investment that counts. Let us send you full information about an Investment Plan by which’ thousands of men and women are successfully and easily working their way toward finane cial independence. The coupon is for your convenience :—HE RY L. DOHERTY & o Southern Bui'ding, Wash,, D, C. | Please send, without obligation, full informas | tion about a definite lavestment Plan for I ] Name —. Qur $3,400,000 resources stand behind your investment % When you purchase Guaranty First Mort- gage bonds, you are doubly guaranteed as to safety of both prine cipal and interest. Aside from being secured by fee - simple properties in Washing- ton and its suburbs, our large resources also protect your invest- ment. Cur convenient par- tial payment plan helps you own Guaranty Mortgages. Denominations from £250 up. Send for our 6% 6% booilet,” “The - Success REALESTATE MORTGAGE & GUARANTY CORPORATION Capital Resources §$3,400,000 24 JACKSON PLACE