Evening Star Newspaper, January 16, 1929, Page 11

FINANCIAL. Money to Loan Secured by first deed of trust on real estate, Prevailing Interest and ool Joseph 1. Weller {0 Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutnal Benefit Life ins. Co. 1520 K Street Main 475 Investment JAMES Y. PENNEBAKER Main5328 1520 K St. N.W. LOANS On Improved Property in Maryland and District of Columbia 6% | Interest — \ No Commission Charges \WWEAVER BRO REALTORS " 809 15th Street N.W. Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance | 191 11115, Company Sccured by First Mortgages Safe: & Make ygur savings { and surolus funds work for you at the highest inter- est rate consistent with absolute safety. Wm.H. Saunders Co. Inc. REALTORS Main 1016 Conserzative 41 Years’ Experience in financing homes and in the sale of these se- curities. of a Century’s Ezpéricnce Difficult Matter Made Easy Don't worry with the management of your Apart- ment House when you can relieve yourself of all it's many problems by placing it under our care. You'll find it profitable— and convenient. B. F. SAUL CO. Main 2100 925 15th St. REAL ESTATE "NOTES Secured by First Trusts B Ssoorai M pbrainils Chosen Locations 6% Interest EAVER BRO REALTORS 809 15th Street N.W. Main 9486 ...worthwhile invest- ments always the result of intelligent analysis and sound, con- servative guidance. are A copy of our January Invest- ment Guide «ill be sent on request avithout obligation. Call or acrite for BOOKLET WS-21 CreLeT & Co. ‘| elected: James H. Baden, | Craigie, Floyd E. Davis, Vernon {B. L. Chamberlin, Col. TWO LOGAL ISSUES REACH NEW LEVELS Gas and Capital Traction Ad- vance—Bank Stocks and Bonds Strong. BY EDWARD C. STCNE. Washington Gas Light and Capital Traction stock reached new high marks on the local stock exchange today. Trading was very light in Washington Gas, 10 shares coming out at 109 and 10 more . closing trading _at one point yesterday's Capital Traction figured in an even smaller turnover, three | shares ' changing hands at 107, the highest mark reached in a long { time. Riggs National Bank stock opened up two points at 572 cn_a 10-share sale. The next 10 .;:;ares sol(\:i 53'. 5715 more at 570 an the marked closed 2t I Sehlek- with 10 additiohal shares moving at 571. National Bank of Washington ap- | peared on the board at 313, while 10 | shares of American Security’ & Trust opened at 460 and 10 more sold at 461. preferred sold at 108, and the same Corporation’s 6 per cent issue brought Washington Railway & Electric j preferred registered 99';. Columbia | Sand & Gravel showed improvement, | 20 shares selling at 93. Mergenthaler Linotype figured in several small lot sales at 104. Bonds were prominent in the day's trading. Potomac_Electric Consolidated 5s, Washington Railway General 6s, | Capital Traction 5s, Potomac Electric Power and Washingfon Gas bonds, ap- peared on the board at recent levels, on a-good sized turnover. North Capitol Bank Organizes. The annual meeting of the North Cap- {itol Savings Bank took place yesterday | with the election of the following direc- | tors: Paul Allen, E. 8. Burgess, George | Clagett, P. Henry Coates, John A. | Eckert, Charles W. Floeckher, Edward { F. Hall, Joseph A. Herbert, sr.; Allen | Hollander, M. L. Michael, Theodore Michael, Clarence Nohe, George E, { Phillips, C. F. Sowers, Charles B. Stew- art and Charles E. Young. . The bank’s present officers were re- elected as follows: Theodqre Michael, | president; George Clagett, vice presi- dent; P. Henry Coates, cashier; E. S. Burgess, secretary, and E. M. Michacl, assistant cashier. Mount Vernon Names Directors. At the annual mecting of the Mount Vernon Savings Bank, held late yester- day, the following 19 directors were re- Albert J. Berres, E, C. Davison, R. Golden Don- aldsen, Charles P. Ford, Harry W. Hahn, Fred Hewitt, Robert T. Highfield, | Hayden Johnson, Williama H. Johnston, Dr..E. F. Koss, Frank W. Lee, William Muehleisen, H. Glenn Phelps, B. L. Rinehart, H. S. Walcott, Arthur O. Wharton, Mr. Woodward and R. C. Zantzinger. Bethesda Directors Re-elected. ‘The Bank of Bethesda has re-elected the following 35 directors for the coming year: Walter K. Bachrach, L. W. Beall, S. W. Bogley, Edgar N. Brawner, Wil- liam W. Bride, William H. Broadhurst, Wallace M. M. Dorsey, James R. Ellis, Jed Gittings, Ezra Gould, Robert D, Hagner, Thomas Hampton, . Robert G. Hilton, John Potomac Electric Power 515 per cent | .. MHE EVENING STAR, WASHINGTON, D. ©. WEDNESDAY, JANUARY: 16~ 1929. UNITED STATES, (Sales are in $1.000.) Sales. High. Low. 56 9919 9910 60 1002 9929 418 1005 9931 10 9722 9722 87 982 9724 80 10220 1028 10210 80 10524 1056 1058 84 111 1108 11010 FOREIGN. Sales. High. Low. Close. Argentinefs...... 4 914 9l 91% Argentine 6s Ju 59, 9 100% 100% 100 Argentine May '61. 32 100% 100% 100% Acgentine 6s Oct 59 14 100% 100 100 Argentine 5%s62.. 15 96' 96 96 Argentine 65 A..... 24 10013 100% 1005 Argentine 6s B. 4 100t 100 100% Australia 43%s56. .. Australia 68 1955... Australia 58 1957... Austria 7s..... 110215 1021 Bank of Chile 618, 10 98'2 97% Bank of Chile 6% 8. 15 99% 98y 8 Belgium 6s 34 100': 100% 1004 Belgium 6% 106 105% Belgium 7s 1955 108 Belgium 78 1956.... 30 106% 1057 1057 Belgium 7148... .. 25 115% 114% 1141y Belgium 88 5 1091 109% Bolivia 8s. 10314 Bordeaux 6s B Brazil 6145 1926 Brazil 6%5 1927 Brazil 18..cu.ee Brazil 8s..... Bremen State 7 Canada 55 1931, Canada 55 1952, .e0. Canada 5%s 1929, Chile 65 '60. Chile fs'61. Chile 75 1943 Chinese Gov Colombia 6s Jan'é1, Con Pow Japan 7s, . Copenhagen 4%s 53 21 884 Copenhagen 5sct.. 2 96% Czecho 8s 1 6 110% 110 Czecho 8s 1952 14 110% 110 Danish Munic§sB, 2 110 110 | Denmark 4148 13 89% 89 Denmark 6 8 104% 104% Dutch East I 63 4 103% 103% Dutch East I6s62.. 3 103% 103% 2167 167 10 100 100 3 90% 90% 1 100% 100% 10 105 104% 64 107% 107% 68 11213 1124 104 106% 106% 11 98 97, 3 1024 102% 9 9714 97 1 100%: 100t 1102 102% 24 9T% 97 16 95 94% 1 924 924 30 10115 101% 2 99% 994 12 991 99% 2119 898 6 103% 102% 3 100% 100 o 12 94% 9% 14 948 Lib 3%s... Lib1st 4% 3 96% 9 108% 108 17 102% 102 9 101 100% 6 104'x 103% 31 100% 100 35 9315 93% oe 10 93% 93% 410 9 3 110% 110% 89 104% 103% 103% 167 100 901 100% 105 107% 112% 1067% 974 102% 9% 100 1024 97 95 Fiat 7s x war 46 Finland 5%s. Finland 7s.. Framerican Tl%s French 7s..... French 7%s. German 7s.. Ger Gen Elec 7s. Greek 7s. Haitl 6s. . Holland-Amer 6s. Italy 7s. Italian Japanese 4s. Japanese 6%sS..... Lyon 6s... Marseille 6s. Mexico 4s 04 Milan 63gs. Montevideo Netherlands 6s 54.. New So Wales 57 New So Wales 58s. Nord 6%s..... Norway 5s 1963. Norway 5%s. Norway 6s 19: Norway 651944.... 4 102% 1023 Orient Devdeb6s.. 5 97% 97% Paris-Ly-Med 6s... 34 99% 99% Paris-Ly-Med 7s... 3 104 104 Paris Orleans 5138, 53 95% 95% Peru 6567 wi. 35 89% 89 Peru 6s ctfs. 8 90 89y Peru 7s. 8 102% 1017 Perulys. 2 107% 107% Pirelli 7s 136 147 145 Poland 6s 40.... 2 824 824 Poland 7s (rets; 88 Poland 8s.. 98% Queensland 6s. 2 104 104 Queensland 7. « 10 109% 109% RhineWst EP 6s'52 7 92% 92% RhineWst EP 6s'53 45. 96 95 RhineWst EP 75’50 16 102 Rio de Janeiro 6%s. 11 9 Riode Jan 85 1946.. 6 106% 106 Rio Gr Do Sul 8s. 5 105% 105% Rome 6%s.... 45 915 91 Sao Paulo 8s 1936. 2106 106 92% 101% 99Y% 9914 101% 102% Imirie, Lewis Keiser, Frank E. McMillin, Ralph S. Morrison, M. Wilson Offutt, Brainard W. Parker, Millard E. Peake, Dr. Benjamin C. Perry, Walter E. Perry, Charles S. Robb, George P. Sacks, Paul Sieman, Prancis C. Wallace, Frank S. Ward, Washington Waters, Frank Wil- son, Luke I. Wilson, Turner Wilson and Ford E. Young. Schick’s Advancement Rapid. Recent election of James P. Schick to the presidency of the National Mort- gage & Investment Corporation came after he had been with the compeny hardly a year. His former position was that of vice president and general'man- ager and succeeds “H. Rozier Dulany, who retired at his own request. Mr. Schick was formerly secretary of the Washington Real Estate Board. The corporation’s preferred stock is listed on the Washington Stock Exchange. Federal Storage Organizes. ‘The stockholders of the Federal Storage Co. have heid their annual mecting and elected these directors: E. K. Morris, Robert B. Hall, James M. Jchnston, Harold N. Marsh, Charles P. Stone, Homer L. Kitt and H. Randolph Barbee. . The directors organized at once for the ensuing year by electing these offi- ce: E. K. Morris, president; Robert B. Hall, first vice president; Harold N. { Marsh, second vice president; James M. Johnston, secretary treasurer, and H. Randolph Barbee, assistant secretary | treasurer. Leaves Bank fo Study Law. Albert Lyman has resigned his P05|- { tion at the Lincoln National Bank to study in the law office of Albert E. Stern. Mr. Lyman entered the bank four years ago as a sccretary and has advanced rapidly. He has been active in Washington \Chapter, American In- stitute of Banking, and done much graduate work. He is a graduate of Central High School and a_senior in George Washington Law School. Taubman Stock Being Offered.’ Offering is made by B. Aubrey Harris & Co. of 25,500 cumulative participat- ing preference stock of Taubman Stores’ Corporation at 52650 a share. The company, incorporated in Maryland, operates a chain of 40 “cash and sylvania, Ma: Indiana and District of Columbia, deal” ing in automotive supplies, hardware, paints, sporting goods and adio equip- ment. BALTIMORE |i\lDUSTRIES SHOW INCREASE IN YEAR Epectal Dispatch to The Star, BALTIMORE, January 16.—Forty- four new industries represanting a cap- ital investment of $31,720,000 were lo-| cated in Baltimore in the year 1028, ac- cording (o the annual report of the In- dustrial Bureau of the Baltimore As- soclation of Commerce. The new in- des wiil give employment to 4,245 r de public, also s cstablished in expended $5,~ furnishing em- 3,519 additional workers. total ihcrease of the money in- ted in industrial enterprise in the ity in the year aced at $37,525,000, ¢ total increase in number of persons 1 employment, 7,764. is the largest plant investment to be announced in any year since 1920, says th The investment in ories in 84.5 per cent of the expansion of the industry of the that 45 factori more prior to 19: 0 in nsion ‘The new plant of the Western Elec- ti Co., construction of which will n shortly, is the greatest single in- i al acquisiticn of the last 12 menths. When comploted, this new ac- Sao Paulo 1950 Saxon (PW) 78 Semne 7s42...... 5 98% 98% 6 104% 104% 2 102% 1024% 4 103% 103 83110 110 1 98% 98% Sweden 5%s. Sweden 65...... Swiss 5148 1946. Swiss Confed 8s. Toho El Pow Ts. Tokio 55, 7 % TN Nor States Pow 5s.. Pacific Gas & El 5s.. PacT & T 15t 58. ... Pan-Amer Pete 68, Pan-Amer Pete 7s. . Paramount 6s 1947. Pathe Exchange 7s.. People s Gas §s.... Phila Co 65 67 w 1.. Phila&ReadC&I 55, Philips Petro %5 Plerce-Arrow 8s. Por Ric Am Tob 6s. Postal Tel & C5%s. . High, 3102 101% 3 102% 54 Public Service 4348 528 Punta Alegre 7s. ... RemingtonAr 6s 32. Rem Rnd 51s war.. Sinclair O11 6 Sinclair O117s. . Sinciair Crude 51 Sin Pipe Line 5s... | | Skelly O11 5145, South Bell Tel bs. .. Southwest Bell 6s. . Stand Oil N J 53 46. Tenn Copper 6s°41. TennElecPow 65 47. Transcontl Oi1 618 United Drug 68 53.. U S Rub 1strt bs., U S Rub 73%s. U S Steel s f 5. Utah Pow & Lt 58. . Utilities Powr 5148, Vertientes Sug Ts. Warner Sug 7s 39.. West Elec 58...... Westn Union 6s 51. Westn Unlon 6%s.. Westinghouse 5s. .. White Eagle O 5% Willys-Ov 6%5 33.. Wilson & Co 1st 6s. 516 [ CCC & St L rf 65 A Tokio 5%s1961.... 18 89% 89% Utd Kingm 5%s 29, 32 118% 118% Utd Kingm 5%s37. 17 104 103% Utd SteamCopen 6s. 5 100 99 Uruguay 8s. 5 108 Vienna 6s Yokohama éswi... 16 95% 95% MISCELLANEOUS. Abram&Straus 5%8 20 117% Ajax Rubber Am Chain 6s'3: Am NatGas 6%s'42 An Smit & R 1st 5s, Am Sugar Ref 6s Am T &Teltrds., Am T & T cl tr bs, AmT&Ts(5s. Am Tel & Tel 6% Anaconda 1st 6s. Anaconda cv db 7! Armour&Co4%s 39 Armour Del 5%s. Associated Oil 6s. Barnsdall 65 1940. . Barnsdl 65 w 0 wal Berl Tel Pa s B. Bell Tel Pa 55 C. Bethlehm Stl pm 58 Beth Steel rf 5s.... Beth Steel 535 53.. Bethlehem Steel 6s. Bklyn Edison bs. Certain-Td5%srets Chile Copper 5s. Colon Oil 6s'38 Col Gas&EI deb Con Coal Md 1st ConGasN Y 5}s.. Consumers Pow 53, Cuban Am Sug 8 Denver Gas 5s..... Detroit Edison 6s. . Dodge 6s. 1 Duquesne . East Cuba Sug 7% Fisk Rubber 8s. ... Gen Cable 5348 47.. 118% 04 100 108 9% 9% 4 118% 102% 138 994 105% 4 107% 100 103 102% 104% 105 | Gen Mot Ac Cor 6s. | Goodyear 5s rets. Hoe & Co 6% Humble Oil 58..... Humble O & R 5%s. 1 Illinois Bell 1st bs., Illinois Steel 4%s. . Indiana Steel 5s.... Inland Stl 415’78, Intl Cement 5s 48., :vm Match 53 47. 100 b 101% %s 91'% Int Tel&Tel 4%s wil517111% Kayser J & Co5%s. 4 131 Kan City P & L 5 1 104% Kan G & E6s52.... 105t Kelly-Spring 8s. Lackawanna Stl bs. Laclede b8, Laclede G & .. Ligget&Myers5sl. Liggett & Myers 7s Loew’s Inc 6s...... 3 Loew's 65 W 0 war. Lorillard 5s. Lorillard 6%s Lorillard (1’) 78... ManatiSug st 7%s. M1d-Con 6%s 40 Midvale Steel 58.... Mont Pow §s 43. Mont Power Mor's&Co 15t 4%s. Nat Dairy 5%s.... Nat Radiator 6%s NewEnglandTel & N'Y Edison 58 44. aGaneSuurnaas @ o 103% 100% 87% 95% 5% 106% 1044 114% 934" 931 106% 106% © quisition will be the largest enterpirse within the corporate limits of Baltimere and second in size only to.the Spar- rows Point plant of the - Bathle Steel Co, % Suvonasdareanid 100 100% 106% 107% 110 110 o b3 24 101 10 1% 101% 101% StL +-12 101% 101% 1014 .il!al!l‘plllA.. WinRepeatAr 7%s. Yngstn S&T 5s wi. 11 5 19 1 10 21 40 14 11 5 5 51 26 5 35 6 10 14 1 27 103 104% 104% 100 % 4 91 Y 1071 10114 9419 191% 87 100% 9474 103'% 104 103 97 92 101% 107% 100% 8374 103'% 103% 1104% 1047% 104 102 1017% 107% 100% RAILROAD. Ala Gt Sou 451943, Atchison adj 4s. Atchison gen 4s. Atlantic C Ll 4s. Atl & Dan 1st 4s 43, Atl & Dan 2d 4s 48 B & O Gold 4s. B & 065 2000 D. B&O1stbsct. B&Orfimp 6s. B &0 SW! Brdway&Tth Av 6s, Brooklyn Elec 6%s. Brooklyn Elev 6% Bklyn Mannat Bklyn Un El 5 Buff R & Pitt 4%s.., Canada South 5s.... Can Nat 41%s 30, Can Nat 4%s 57, Can Nor 4%s 1935, Canad North 7s.... Canad Pacdeb 4s., Can Pac 4%s 46.... Central Pacific 4s.. Cent Pac 1st 58 90. Chesa Corp s w Ches & Ocv 4%s... Chl & Alt 3%s ctfs. Chi B&Q gen 45 53, CB&Q4%s77B.. CB&QIII3%s.... Chi&E 111 gn 6s 51.. Chi Gt West 4s 54 1 P 4 ¥ 1 b 1 3 7 4 6 101 101! 104 109 102 106'4 99% 1 864 Y8% 90% 2 102% .3 ChiStPM&O 6s '30.., CM& St P gn 89 5. 86 CMSP&Pacadj5s03.216 Chi& NW gen 4s Chi& NW 7s.....0 Chi Rys bs. Cuba R R T%s. Cuba Nor 5% s ct: Del & Hud 15t rf 4s. Del & Hud 5%s.... D Rio G West 5s... DRG & Wst5s'78 Erie Gen 4s Erle conv 4: Erie conv 4s B. Ertecvt 5s 67 w Erie & Jersey 6s. Erie Genessee R 6s. Fla East C s 74. Gr Trunk stdb 6s Gt Nor 435 76 D. Grt Northn 4%s K, Great North 5s. . Great North 53%s, Great Nor gen 7s Green B & W deb Hocking Val 4%s... Hud & Man aj 5s Hud & Man ref 5. 1l Cent 4%s 66 Il Cent Chi 4% Int Rapid Tran 5s.. Int Rap Tr 6s stpd. Int Rapid Tran Bs.. Int Rap Trans 7s. Int & Nor 1st 6s. . Int&GtNor adj 6s 52 Int Rys CA 55 72... Int Ry CA 6%sret. Towa Cent 1st 5s... Kansas City S 3s. Kansas City S 6s... Kan City Term 4s.. Lehigh Valen 4s... Lehigh Val 55 2003, Louis & Nash 5s B. Louis & Nash 7s. Man Ry 1st 4s 90 Market St 7s 40.... Mil El Ry & L 55 61 Minn & StL ref 4s. . Minn & StL cn §s. M StP&SSM cn bs. . MStP&SSM5s38gtd M StP & SSM 6%s. MK & T 1st 4s MK & T adj 5s. MK & T prinss A, Mo Pacific gen 4s. . Mo Pac 55 A 65 Mo Yac bs F17.... Mo Pacific 55 G '78 Mont T'rm ref 5s 41. Nash Chat&StL 4s. Nassau 131 45 61. .. N'OTex & MGs B.. NOT&MGbY%S.... NYCengen3¥ NY Cent 45 98 N Y Cent deb NYCrfimd%s N YCentrt 5s. N'Y Cent deb 6s. NY CentLS cl 3%s. 994 99% 70 9% 29 8514 82 69'% 101 85% 95 914 93z 9% 90 1024 81% 94% 91 100 1024 8715 104% 100 105% 9974 95% 101 92% 92 6 104% 91 NYChi&StL 5%sA. . NYChi&StL 5%s B, NYC&StL6sA.. NY Rys 6s65. . NY Sus & Wn bs '37 NY Sus&Wn gen 58 NY NH&H db 4s 57, NYNH&H4% NY NH&H cv db NY NH&H clt 0s... NY Ont W 1st 4s. N Y State Ry 4%s.. NYStateRy 635 62. NYW&B4%s. .. Nor & S gen bs 64.. Norfolk & W en 4s.. Nor Pac 3s 2047. Nortnern Pacific 4. Nor Pac 4%s 2047, Northern Paer i 6s. Ore Short L rfs 4s. Ore Short L cn 5 Ore Wash 1st 4s. .. Pennsyl con 415, .. Penna RR 4% Pennsyl gold Peo & E It 4s 40 Pere Marq 1st 5t PCC&StLSGsA.. Portland Ei P L 6s. Port RL & P bs 42, Port RL P 6s 47 St L IM&S 4s 2! StL IM&S gn bt IM&S R&G 484, ¢ > B e PREE o, A BT ———— 0o S W= - S S8 110%3 111 9 106% 964 963 103 109 112% 284 99 82% 96 100 9% 80!y 97 40% % 99 90 B8 1074% 104% 102 67h% 973 101 23 103% 101% 157% 100 9814 9814 99 89% 99 101% 80 89 97 100% 107 9% 107 107 102 20% 82 72 7 91 119% 1047 72 4914 61% 834 894 9ty 66 881y 9814 1134 103% 1677 102% 99 102 99 Low. 102 101% 101% 10214 1045 104% 99%, & 105'% 99% 91 93% 107 1014 93% 134% B6% 100% % 94 9915 101 Close. 102 101% 102% 1027 1044 93% 107% 101t 100% 944 997 101 4 102% 10314 101 10215 96 915y 014 107% 100! 93'% 97 837% 1027k 102% 110 104% 103% 101% 1075 100%% 1014 103 102 9% 106% 994 97 9% 103% 110% 10 10313 102 101% 107% 1004 106% 994% 95% 98% 1% 112% 102 9014 70 9% 9 814 69 100'% 854% 95 9443 93 8% 90 102 81 94'% 9% 102% 8714 1043 100 104% 5 100% 2% 92 104% “ 110% 111 8% 1056% 9643 96 103 109 nz 28% 99 24 95% 100 95% 8% 93 80Y% 96 40% 5% 98t 8914 B8y 1074 104% 102 67'% 97% 100% 103% 101 5 99 9% 98 99 891 56 98% 104% 9% 885 107 T9% 106% 106% 102 20% 82 72 ks 91 119% 10419 72% 4815 615 834 89 9l 6614 B8l 98 18 103% 107% 102% 9874 102 99 8415 98 9014 102 9919 99 104% 80 881 967% 100 106% 1074 2.100 100 100 914 93% 98% 8 9 % 86 8614-WisCengnis il 3 [oxew vone_ BONDS soce swcauvca] ] § BONDS RALLY Received by Private Wire Direct to The Star O| INQUIET MARKET Demand Is Slackened by In- creased Charges for Time Money. BY CHARLES F. SPEARE. Special Dispatch to The Sta NEW YORK, January 16.—Not much impression was made on prices of high- grade bonds today by the further ad- vance in call rates and the unusual charges demanded for long-term money. ‘The efiect was more to deaden demand than to reduce quotations. Some of the Government issues rallied from yester- day’s decline, especially the 3 per cent Treasury issues, which on Tuesday sold at the lowest since they were author- ized. The Treasury d4s, however, lost ground and made a new low for the year, as did United States Liberty fourth 4! ‘The general average of both domestic and foreign bonds has been slowly re- acting, but it is still slightly above that of the closing of 1928. In the case of domestic bends it is held up by the strength in legal issues, for which there is a larger demand than can be filled, as few securities of this kind are being created. Convertibles were quieter and irreg- ular. International Telephone 4128 rallied fractionally as did International Cement 5s and Barnsdall 6s. The last named will be redeemed within a month. Anaconda Copper 7s at one time were 4 points lower, but recovered. Chilean 7s were more active around 96. Public Service of New Jersey 4',s this after- noon gained about 7 points. In the rails the features were a further recovery in Seaboard Air Line issues, an advance in the generally in- active Peoria and Eastern 4s of a point, a fair amount of activity in St. Paul adjustments and further accumulation of the defaulted issues of the Minne- apolis and St. Louis system. Several small issues of bonds were offered today. In general new financing is nominal in size. The largest units of stock in prospect are those of in- vestment trusts. it Washington Stock Exchange SALES. Wash. Gas 6s A—$100 at 103;, Cap. Tract. Co—3 at 107. Pot. Elec. 5152% p! at 108. Washe Gas Lt.—10 at 109, 10 at 109%%. Wash. R. & E. pfd.—5 at 9914, Riggs Natl. Bank—10 at 572, 10 at 571, 10 at 570, 8 at 571, 2 at 571, Natl. Bk. of Wash.—5 at 313, 10 at 312. Ame. Sec. & Tr. Co—10 at 460, 3 at 461, 2 at 461. Col. Sand & Gravel pfd.—15 at 93. Mergenthaler Linotype—5 at 104, 5 at 104, AFTER CALL. Col. Sand & Gravel pfd.—5 at 93, Wash. R. & E. 45—$1,000 at 90. Pot. Elec. 6% pfd—10 at 11115, Pot. Elec. cons. 55—$1,000 at 102%, $1,000 at 102. Wash. Rwy. gen'l 6s '33—$100 at 102%. Cap. Tract. 55—$500 at 102%. Pu;b ::!lec, 65 1953—$1,000 at 108, $500 at Wash. Gas 6s “B"—$1,000 at 1061 Georgetown Gas 55—$500 at 102%5, Waihl.ot‘l_ns 65 A—$500 at 104%, $1,500 at 1047%. Chestnut Farms Dairy pfd.—10 at 109, 2 at 109, ke Mergenthafer Linotype—10 at 104, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. & Telza. 4% Amer. & Tel; 4 Tel. City & Suburban 5s. Georgetown_Gas, 1st Potomac Elec. 1 Potomac Eiec. cons, 57%. Potomac_Elec, 65 Wash., Alex. & Mt. V. Wash., Balto. & Ann: Gas 5s. 8 series B. Wash. Rwy. & Elec. 4s Wash. Rwy. & Elec. gen, 6. MISCELLANEOUS. Barber & Ross Inc. 6!is. Cham-Vanbit Hotel 615, Chestnut Farms D Chevy Chase C! oc! .M. Cold ‘Storage’ 5s. Wash. Cons_Title Co. 63 . Wardman Park Hotel 51z STOCKS. PUBLIC UTILITY. sl 6:x pla Potomac Elec. 512, pfd. Wash. Rwy. & Elec. com. Wash. RWy. & Elec. pfa. NATIONAL BANK. National Capital Columbia Commercia District .. Federal-American Bank Liberty . TRUST COMPANY. American Security & Trus Continental Trust Merchants' Bank. . National Savings & Trust. Union Trust .... Washington Loan SAVINGS BANK. Bank of Bethesd: Commerce & Sa East Washington Yotomac . Security Sav. & Commercial. Seventh_Stree United State; Washington American Corcoran Firpmen s National Union. TITLE INSURANCE. Columbia Title Real Estate Ti Fedéral Storage pid. .. Federal-American Co " coi Federal-American pfd Lanston, Monotype. . Merch. Trans. & Storage. Merch, Trans. & Storage Mergenthaler ‘Linotype. Natl. Mtge. & Inv. pid Peoples Drug Stotes pid. Security, Storage... .- Mech: Mtge. co Wash. Medical Bldg. Cofp! Woodward & Lothrop pfd. _*Ex_diyidend. S Fr4%s78. 60 StL&SF prinbs.. 13 StLSW 1stds.... 2 StLS Wconds32.. 2 St P & KCShL 4%s. 2? StL& & s SeabAL ad) 53 1949. Seab A L con 65.... SBAIlFla 6535 A. 19 Sou Pac 48 29 Sou Pacific rel Sou Pac 4%;s rets Sou Ry gen 4s. Sou Ry Con 5s. Sou Ry 63 56. Sou Ry 6%s. SouRy Mo & O 4s.+ TexArk FS 5%s 50, Texas & Pacific 1st. Third Ave r;§ . 60. 5 Virginia Ry 1st b Wabash 55 76 B, West Maryland 4 Western Md 6348, . Western Pacific GASOLINE PRICE WAR IS BOON TO MOTORISTS Special Dispatch to The Star. SAN FRANCISCO, January 16.—The Pacific Coast's gasoline price war, at least in so_far as it affects the San Francisco Bay district, is giving the motorists a great deal of glee. It looks as though the garage and filling station boys are going to be in the trenches for a long time yet and motor fuel at from 15 to 18 cents a gallon, including a 3-cent State tax, like a be- lated Christmas present to Mr. Average Motorist, with the income tax, the cold weather inefficiency of his car and one thing or another to plague him. When the big oil companies fall out, as they occasionally do, the automobile owner knows it will be only a short time until a truce is declared and the rice of gas will be back up to its former fevel—or perhaps higher, But the big companies have during the last year and a half been leasing their filling stations to employes and it is the hundreds of the little fellows who are at present cutting the price until it hurts. BID FOR D. . GAS COMPANY IS MAD Broker Admits Offer to Pur- chase Controlling Interest in Firm. | Another attempt is being made by out-of-town interests to gain control of the Washington Gas Light Co. through purchase of stock. It can also be stated that these in- terests are not identified with those connected with the stock-buying cam- paign launched here several months agb aimed at securing management of the company. 7 [ flower fund, . which is & means of ex- those in Reports in the financial district today indicated that G. Bowie Chipman, res- ident partner of Harriman & Co., is representing offieials of the company seeking to gain control. In reply to a question, Mr. Chipman admitted that he had submitted an offer to Ord Pres- ton, president of the gas company, al- though he withheld the name of the public_utility concern or out-of-town financiers directly interested. Offer. Made to Corporation. “It is true,” said Mr. Chipman, “that an offer has been made on the part of a public utility corporation of very considerable size looking toward pur- chasing control of the Washington Gas Light Co. Mr., Preston has the offer and there is a law which prevents an outside corporation from buying more than 40 per cent of the Washington Gas Light Co. or any other local utility company, and it is tI technicality which is holding the matter up at this time. “Mr. Preston has been insistent that the offer should include all of the stockholders of the Washington Gas Light Co. and not a majority of the stock. With the franchises that the company owns in Virginia and Mary- land, it is more than probable that the earnings can be increased to show twice %e earnings the company is now show- g. “While I do not want to say what the price is at this time, in view of the fact, however, that private offers have been made, so I understand, of $125 per share for lots of this stock privately owned, this may givétan idea of the price that the offer will carry.” Officials Silent Regarding Offer. ‘When President Preston of the gas company was seen at his office this morning he said he could not deny that an offer had been made for pur- chase of a controlling interest in the stock. Further than that Mr. Preston had no comment to make. Local bankers said today that they could see no likelihood of any change in control of the Washington Gas Light Co. in the near future. So many large blocks of the stock are tied up in estates that the transfer of stock con- trol would be a long process. Several months ago D. A. Pearson, a New York financier, spent consid- erable time in Washington in an effort to purchase large blocks of stock. It was stated then some Middle Western utilities interests were after control of the gmpeny. Mr. Pearson, however, issued a statement in which he said he was working in the interest of private investors. ‘The stock sold at 108'; on the Wash- ington Stock Exchange yesterday, the highest price since it was issued. . VIRGINIA BANKERS PLANNING MEETING Twentieth Annual Session of Group 3 Will Be Held on Sat- urday. Special Dispatch to The Star. ALEXANDRIA, Va, January 16.— Arrangements for the twentieth annual meeting of Group 3 of the Virginia Bankers' Association, to be held here Saturday, in the George Mason Hotel, have been completed by Robert G. Whitton, chairman of the local commit- tee in charge of arrangements. The session, which is expected to attract 150 delegates from various banks in this section of Virginia, will open at 10 o'clock Saturday morning with invoca- tion by the Rev. E. V. Regester, presid- ing elder of the Alexandria District, Baltimore Conference, M. E. Church South. Chairman J. T. Jones of Berryville ‘will make his report and City Manager Paul Morton will deliver an address of welcome. C. Russell Caldwell of Staun- ton will respond. P. W. Anderson of Marshall will submit the report of the secretary-treasurer, S. W. Keyes of Glade Springs will de- 4ver an address on “City. and County Organizations,” and W. D. Durrett of Richmond will talk on “Bank Costs.” An exhibit of uniform method of saving in in calculations, charts and methods will be made by representatives of the Monroe Calculating Co. An in- formal discussion of subjects of interest to members, reports of committees and election of officers will follow. Dinner will be served. e Officers of Group 3 are: J. T. Jones of Berryville, chairman; Thomas P. Beery of Harrisonburg, vice chairman; P. W. Anderson of Marshall, secretary- treasurer. The advisory council is com- posed of C. T. Merchant of Rosslyn, ueor%e R. Geary of Mount Jacl , C. K. Yancey of Waynesboro, Harry P. Davis of Manassas and Har- old G. Brown of Culpeper. DIVIDENDS. Hidrs. of record. Jan. 18 In Chicago a significant phase Jewish pmuh‘::thmpfn is the ?mmorm FINANCIALS OFHI0 ASPARAGUS INLOCAL MARKET Vegetable, Grown Under Glass, Said to Be of Fine Quality. Asparagus, cases of two dozen bunch- es, grown under glass at Astabula, Ohio, appeared in the local market this morn- ing. It was top quality asparagus, deal- ers reported, and the bunches, not very large, were quoted at $5 a dozen. hrooms, received chieft from Ivania, especially attractive, were round 1.25 a basket, finding ready saie at that price. Fancy toma- tees, repacked in various cities, were of- feved at a wide range of prices, color of the fruit being as attractive as during the Summer season. French endive, imported from Bel- gium, proved attractive in the vegetable market this morning. It was received in 10-pound boxes and was quoted at 2.75a23.00 a box. Weather Affects Fruit. Peas were a trifle easier this morning, dealers reporting a slow demand for in- creased receipts. Lima beans, another leader in the vegetable market, con- tinued at prices quoted yesterday. Cold weather has affected the fruit market. Bananas, not much in demand because of the cold weather, were sold at exceptionally low prices in the Bal- timore market Monday morning, accord- ing to iocal dealers. ‘There were so many ripe bananas for which no bids were made, it is stated, that truck drivers were permitted to re- tain them for home consumption. Re- tailers would not buy them, 1t is stated, for fear of freezing. Florida oranges, many of them small, continue to be received in fairly large quantities. In many instances, accord- ing to reports, the small fruit sold at retail as low as 15 cents a dozen. Windfalls, shipped in bulk, also are plentiful and cheap. Dealers continue to receive large ship- ments of apples, Good fruit this morn- ing was offered at $1.50 and $2 a bushel basket, while fancy pears, in boxes, were offered, as to size and quality, at a wide range of nrices. Heavier receipts of eggs reported this morning made the market on hennery stock easier. Price of hennery eges this morning dropped to 38 cents, deal- ers reported, although some Were quoteG as high as 40 cents. Dealers say there is very little difference between the hennery and selected eggs at tlis sea- son, practically all supplies being fresh. Poultry prices continued unchanged. Dealers had fairly heavy receipts of turkeys to offer the retail trade this morning, most of them being No. 1 stock. Butter and meat prices also continued unchanged. Today’s Wholesale Prices—Jobbers’ Prices Slightlv Higher. Butter—One-pound prints, 47248; tub, 46a47; store packed, 30a35. Eggs—Hennery, 40; fresh selected, 372 38; current receipts, 35; storage, 30a32. Poultry, alive—Turkeys, 37a38; Spring chickens, 35a36; Leghorns, 30; fowls, 28a30; roosters, 19220; ducks, 25; geese, 20; keats, young, 50a60; old, 30. Dressed—Turkeys, 40a45; Spring chick- ens, 38a40; Leghorns, 30a32; fowls, 30a 32; capons, large, 45a46; small, 35a40; ducks, 32a33; geese, 25a30; keats, 80 al 1.00. ioats, fresh killed—Beef, 20a23; veal, 24327 lamb, 30a32; pork loins, 228 3o rests Hame, 33a24: fresh shoulders, 17; smoked hams, 2a26; smoked shoul- ders, 17; bacoxa, 20a22; lard, in tins, 1315; in tubs, 13.. : Live stock-—Calves, 1615a17; lambs, 13a14. Game—Rabbits, 30a35. Fruit and Vegetable Review. The daily market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricuitural Economics, says: Apples—Supplies moderate; demand light, market steady; barrels, Virginia and Pennsylvania, U.S. No. 1, 213 inches up, Staymans, 5.50; few fancy higher; boxes, Washington, medium to large size, extra fancy Delicious, 3.25a3.5¢ Staymans, 2.50a2/75; Romes, 2.25a2.5 bushel baskets, Virginia, U. S. No. 1, 215 inches up, Staymans, mostly 1.75, few 1.90. Cabbage—Supplies moderate; demand light, market about steady; New York, sacked, per hundredweight, Danish type, 2.75a2.90; South Carolina, barrel crates, pointed type, 4.25; 1'2-bushel hampers, pointed type, 2.25a2.40; Florida, 12- bushel hampers, pointed type, 2.50a2.65. Celery—Supplies liberal; demand light, market steady; Carolina, crates, 6.00a 6.50; few fancy higher. Lettuce, Western stock—Supplies mod- erate; demand light, market steady; Arizona, crates. iceberg type, 4-5 dozen, fair quality and condition, 2.75a3.2! California, Imperial Valley, crates, ice berg type, 4-5 dozen, 4.50; few higher; Southern stock., no sales reported. Onions—Supplies light; demand light, market firm: Michigan and Ohio, 100- pound sacks, vellows, U. S. No. 1, mediunt to large size, 5.00; few higher. Potatoes—Supplies moderate; demand light, market steady; New York, 150- pound sacks, round whites, U. S. No. 1 sylvania, 150-pound sack: Russet Rurals, U. S. No. 1, 2.25a2.35. Spinach—Supplies Iiberal demand light, market slightly weaker; Texa bushel baskets, savoy type, 1.10al.2! some ordinary quality low as 75. Tomatoes—Supplies light; demand light, market dull: repacked, unknown origin, threes, ripes, wrapped, fair quality, fancy count, 2.00a2.25; choice instead count, 1.50a1.75; sixes, ripes, wrapped, fancy count, 5.00: originals, Florida, sixes, ripes and turning, wrapped, fancy count, 3.00a3.50. String beans—Supplies very light; demand light, market firm; Florida - bushel hampers, green, fair quality and condition, 6.00a7.00. Peppers—Supplies very light; demand light, market steady: Florida, pepper crates, fancy, 6.5027.00; few fine quali- ty and condition higher. Squ:\sh—Sxpth‘s Vtcry light; too few sales reported to quote. Ppns»—pgupplies light; demand light, market about steady; Mexico, 45-pound crates, best, 6.50; fair quality and con- dition, 5.50. Strawberries—Supplies very light; de- mand light, market steady; Florida, pony refrigerators, Missionaries, 75 per uart. i Cauliflower—Supplies moderate; de- mand moderate, market slightly weaker; it * 1108 California, pony crates, 1.90a2.25. ! Carrots—Supplies light; demand light, | market steady; Texas, Western lettuce crates, bunched, 3.25. Beets—Supplies light; demand light, market dull; few sales; Texas, Western lettuce crates, bunched, 4.25. Oranges—Supplies moderate; demand light, market steady: Florida, boxes No. 1, medium size, 3.75a4.00; No. 2, me- dium size, 3.00a3.50. Grapefruit—Supplies moderate; de- mand light, market firm: Florida, boxes medium size, No. 1, 3.5023.75; few, 4.00; No. 2, mostly 3.00. OIL FIRMS COMBINE FOR EXPORT TRADE Leaders-in Industry Form Associa- tion Under Authority of ‘Webb Act. By the Associated Press. NEW YORK, January 16.—Forma- tion of a Webb act association within the American petroleum industry, un- der consideration for some months, has been accomplished by the incorporation in Delaware of Export Petroleum Asso= ciation, Inc., it was announced here yesterday. The petroleum industry thus follows the lead of other indnstrics, such as copper, steel, zinc, phosphate, silver, sugar and rubber, in taking advantage of the provisions of the Webb act, which permits combinations of industry for export trade. “T’e formation of the association results from a general feeling among exporters that they must effect all possible economies in their foreign busi- ness to keep their position in the vorld's trade,” the announcement said. The companies thus far m:mbers of the association are: Atlantic Refining Co., Citles Service Co., Gulf Refining Co., Marland Oil Co., Richficld Oil Co. of California, Shell-Union Oil Co., Sinclalr Consoli- dated Oil Co., Standard Oil Co. (Cali- fornia), Standard Oil Co. (Indiana), Standard Oil Export Corporation, rep- resenting operating units affiliated with Standard Oil Co. (New Jersey), Stand- ard Oil Co. (New York), the Texas Corporation, Tidewater-Associated Oil Co., Union Oil Co, of California and Vacuum Oil Co. ‘The election of a president of the association has been deferred, so that for the time being the powers of the president will be exercised by Gilbert H. Montague, vice president and gen- eral counsel, and for the present the association’s headquarters In New York will be in the law offices of Mr, Mon- tague, at 67 Wall street. BANK OF BOWIE. BOWIE, Md., January 16 (Special).— Reports submitted at the annual meet- ing of the stockholders of the Bank of Bowie, showed that the institution en- Jjoyed a highly prosperous year. It was announced that undivided profits of the bank now total $11.231.28 as the result of the addition during the past vear of approximately $2,500. Since the bank was organized eight years ago, it has paid out $9,000 in dividends so that it has made almost its capital stock of $25,000, a considerable sum having been charged off for the fixed charges. Stockholders re-elected all directors as follows: Thomas P. Littlepage, Wil- liam S. Hill, Daniel B. Lloyd, Bernard A. Maenner, Edward E. Perkins, C. A. M. Wells and William Luers. Mr. Per- kins was re-elected president; Mr. Lit- tlepage, vice president, and Mr. Luers, cashier. ey T BIIL A U. S. TREASURY RECEIPTS. ‘Treasury receipts for January 14 were $6,239,126.76; expenditures, $13,626,- 553.90; balance, $153,708,203.00. UNLISTED Stocks & Bonds Bought—Sold—Quoted MEHLMAN & COMPANY Woodward Bldg. msm Real Estate Financing Second Trust Notes | purchased at reasonable discounts, secured on District (of Columbia and nearby Maryland property. Ve We Solicit Your Application National Mortgage & Investment Corporation 1004 Vermont Ave. N.W. Main 5833 pplications Invited at 5Y2% Glover & Flather 1508 H St. N.W. Main 1753 JOHN JOY EDSON, President Organized 1879 ASSEtS.cvuunernoncennssn$5,513,05163 cumulating money. Equitable Co-operative Building Ass'n Subscription for the 96th Issue of Stock Being Received Start the New Year by Saving Systematically in the Equitable i Resolve now to start an account with the Equitable and make regular de- You'll find the Equitable’s sys- plan of tremendous help in ac- Are you one of the thousands of thrifty folks using our plan? Come in and let us explain. ‘WALTER S. PRATT, Jr., Secretary 49th YEAR COMPLETED Surplus & Profits. .$1,601,704.98 915 F St. N.W,