Evening Star Newspaper, January 21, 1929, Page 10

TAR, WASHINGTON, D. C., MONDAY, JANUARY REGULAR | \ | Smclrfswv i AmNBI %Equitable Co-operative Building Ass'n JOHN JOY EDSON, President ~ WALTER S. PRATT, Jr., Secretary 68% 69 | Sweet of Am(1). 8 | Organized 1879 49th YEAR COMPLETED | 3 3 Sy mil e a5 37 ol i Steel Loses Part of Last Assets ..........q.....$5513,051.63 Surplus & Profits. .....$1,601,704.98 S s Subscription for the 96th Issue of Stock Being Received Tenn Copper(1). & Week’s Gain—Copper Prices Up. s 1929, FINANCIAT TWOLOCAL STOCKS | FINANCIAL. 21, THE_EVENING NEW YORK STOCK EXCHANG Open. High. Low. Close. ; ADbitibl Power... 50 503 49% 50 Aoftibt Popf(6) 83 B3 83 83y Abrahm&Stravs 140 140 140 140 Ab&Straus pf 7. 110% 110% 110% 110% Adams Exp(6) .. 390 390 396 SCORE NEW PEAKS Capital Traction and Riggs| B 30 3 Nationa! Go Higher on i e Exchange Today. BY EDWARD C. STONE. Capital Traction stock reached a new | high mark on the Washington Stock ! Exchange today when it sold at 107'x. | (\ Received by Private Wire Direct to The Star Office Open. High. Low. Clos en. High. Low. Close. . Low. Close. 1% 1% 158 160% nu 72 Cudahy (rts)... 14 Curtiss Aeroc1). 169% 161% Cuyamel Fruit.. 71% 724 Davison Chem.. 6% 65 Deere&Co pf(7). 125% 125% Del & Hud(9). 195% 195% Del L & W(17) 127% 128 Den RG Wn pf. 5 Detroit Ed(8) Devoe A (1. Diamond M (8) Dome Mines(1). Drug Inc(4).... | Dunhill Int (34). Dunhill (rtg) { DuPont (11).. Du Pont deb(§) . Macy Co (c2)... Mad Sq Gar 1%. Magma Cop (4). Mallison & Co... Mallison pf(7).. Man Elec Suply. Man El m2g(d5) Man Shirt(2)... Market St pri Marlan Oil. Marlin-Roe 3% Marmon Mot (4). Marmon rts. . Martin-Parry i May Dept S(4). Maytag (2). Maytag pf(3) Melville Sh 1.10. 64%, 125% 5% o Texas Corpn(3). TexasGulfSul(4) Texas & Pac(5). Tex Fac C & Oil. Tex Ld Tr(new) Thatcher Mfg Thatchr pf 3.60. The Fair(2.40).. Third Avenue. .. Thomp J R(3.60) Tidewater AsO!l Join the Equitable’s Systematic Savings Plan ). . 168 9% 119% 120% %6 6% 10 Albany Papr(2). Allied Chem. . | Allis-Chalm(7). Amerada(2).... Am Agricul Chm 2: Am AgriChpf.. 734 Am Bank N(13). 126 Ié: BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 21.—Heavy Lay the foundation now for financial independence. You'll find the Equi - 115% 117% In a turnover of only 16 shaxes the stock touched the highest price it has registered in many months, i fact, nearly a year. Riggs National Bank stock @ hung up a high mark. opened where left off Saturday 580, 10 shares moving at this f ure, Then followed four sales totaling shares at the new mark of 581. Another bank stock transaction was the sale of 10 ares of Ameri- william J. Baden. n Security & Trust at 465. Potomar | lectric Power 5'c per cent preferred ! was active, 40 shares selling at 108% and 62 shares at 108%3. The 6 per cent issue came out at 112. Lanston sold at 121, Mergenthaler at 104, 10375 and 1033;. Columbia Sand & Gravel preferred was up to 94. Terminal Refrigerating & Warehouse Corporation came out at 52 on a 50-share turnover. | Bonds were neglected, Georgetown Gas | 55 at 102': being the only transaction | corded. | In connection with th nnual meet- ing of the Washington Railway & FElec- ort of the Potomac Elec- ic Power Co. was also presented by President William F. Ham he follow- | ing summary shows the growth of the! plectric power company business in the past 15 years: Year. Meters. Kilowatt hours. ol 29,671,308 7,002,721 133433747 250,830,975 “The demand for electricity is con- tinually increasing,” Mr. Ham said, “and, while indeed gratifying, requires the expenditure of large sums of money for increased facilities to properly keep | pace with the growth of Washington and its surrounding territory. “In 1928 there was expended for ex-| tensions and additions to plant and| cquipment the sum of $2,816,000, which consisted mainly of new additions to power plant building, additional substa- tion equipment, extensive additions to street lighting equipment, and the usual general extensions for the proper render- | ing of service to our customers. The program of capital expenditures to be made in 1929 aggregates $5,176,- 250, of which approximately $2,000,000 is needed to carry to completion the addition to the Benning power plant started in 1928. The balance of capital expenditures to be made in 1929, amounting to ap- proximately $3,000,000, will be used for the acquisition of land for new sub- stations, substation buildings and equip- ment, extensive additions to street lighting equipment and the usual re~ quirements for extensions. At the regular annual meeting of the | stockholders of the Mortgage Invest-! ment Co. of Washington, held on Jan- uary 14, the following directors were elected for the ensuing year: John N. Auth, J. Rozier Biggs, Harry R. Car- roll, A. S. Gardiner, Harry S. Lewis, William Neuland, E. W. Petherbridge, Ivan K. Strasburger and Ernest G. ‘Walker. Following the stockholders’ meeting the directors elected the following offi- cers for the year: A. S. Gardiner, {zresident: Harry R. Carroll and Wil- liam Neuland, vice presidents; J. Rozier Biggs, treasurer, and Frank A. Spicer, secretary. This company was incorporated under the laws of Delaware in August, 1923, and has since been most successful, dealing exclusively in real estate and mortgages. Since its inception it has paid 8 per cent per annum on the pre- ferred stock of the company. |Am Bk N pf(3).. | Am Bosch. Am Br 8h(J1.60) | Am Drug (60c). 60% 601 19% 19% Am Beet Sug pf. 59 601y 19 591 Am Beet Sugar. Am Brown Bov. . Am Brown Bo pf Am Can (14).... AmCar&Fdy(6). Am Chicle (2).. 20% 71 71 9 113 114% 113 99% 100 993 100 50' 50% 49% 50 10% 10% 10% 91 91 91 288 288 288 20% 103 Am Encau T(4). Am Lxpress(6). | Am & For Pow.. Am Hide & Lea. Am Hide & L pf. Am Home Pr(3) Am Ice (213)., 1Am Ice pf(6) Am Internatl(2) | Am Internat(n). | Am LaFr&Foam Am Locomot(8). 109 Am Metals(3).. 694 Am Metals pf(6) 1211 123! Am NatGaspf?7 97% 974 Am Pfano...... 15 15% AmP&L (11).. 8814 89% B87% AmP&Lptsta5. 81 8L 81 1 AmPo&Lt pf(6). 100% 100% 100% 100% Am Radiator(5) 206% 2064 2 Am Ry Ex(6) ~ 134 15 { Am Republic: Am Saf Raz.1d) Am Seating(3).: 5y | Am Ship & Com. Electricity Demand Increases. | pbldge8). n&Ref(4). AmS& R ple7), Am Snuff (12).. Am Stl Fdys(3). 9 Am Sugar. . 90% 9015 89 Am Sumatra(3). 56% 57 5614 Am Tel & Tel(¥) 200% 200% 199 Am Tobacco(8).. 180 181 179 Am Tobac B(8).. 180% 181 179 180 Am TypeFo(8).. 1. 147 146 146 % T4% T4% 25% 24 24% 5% 56 55 154 14 14 44 44 44 40% 417% . 40% 41% 106 106 106 106 124% 127% 124 125% 55% 55% 54 54 50 517% 49% 50% - 102% 102% 1015 1013 Armour Del pt 93% 93% 93% 93% Armour lil(A).. 138 18 1% 17% Armour IlI(B).. 9 % 9 I Armour 11l pf(7) &5 856% 85 854 Arnold Con&Co 37 37 36% 367 AssoDryG(2%). 67% 65 6612 67% Atchison(10)... 200% 200% 199% 200 Atch T&S Ferts 2 2 o2 2 Atchison pf(5).. 103% 103% 103% 103% Aul Coast L(110) 173% 1756 173% 175 AUGuIf& WI.. 40% 40% 40 40 Atlantic Ref(1). 62% 63% 62 621 AtlasPowder(4), 108% 1034 108 10! Austin-Nichols.. 8% % B% B AutoSales...... 24% 25% 24% 25 Auto Salespf(3) 39% 41 394 41 Autostrap A(3). 46% 46% 45%a 45% Baldwin Loc(7). 248 248 248 248 Bald Loco pf(?), 117% 117% 117% 117% Balto & O(6).... 1223 1221 121% 121% Balto & O pf(4). 794 T9% 7T9% T9% Bambgr pf(63%). 109% 110 109% 110 Barker Bros(2). 31 32 31 32 Barnsdall A (2). 43% 44% 43% 4d% Bayuk Cgrs (2). 110 110% 110 110% Bayuk 1st pf(7). 105% 106 105% 106 23% 25% 28% 25 95% 954 95% 95% 13% 131 13% 13% 83% 83 83% 83% 924 93% 90 90 87% 87% 84% 854 42% 42% 42% 42 86 86% 86 86 10% 10% 9% 9% 194 194 190% 191% 5 105 105 125 12% 56'% 56% 4% 4% 4w TH Th TH 69% 674 69% 137 137 137 7% T4% TH% 46 46 46 53% 53!4 521 52% 43 434 40y 1k 90 57 200 179 Am Writ Pactfs 15% Am Writ Pa 6 pf 44 Am Zine. . Am Zinc pf. . Anaconda C (6). Anchor Cap..... Andes Copr 75¢.. Archer Dan (4). Beecn-Nut (3). Belding-Hemwy. Belg N R pf(16). Best & Co(3).... Beihlehem Steel. Borden Milk(6). Boston & Maine. Botany Mills (A Briggs MfgFCo. British Empire. . British Emp 2d.. Brockwy Mot(4) 69 Brockway pf(7). 137 Bklyn-Man(4).. 74% BrownShoe(2%) 46 Brunswick B(3) Bruniswick Ter.. Baden Discusses Trust Needs. ‘William H. Baden, trust officer of the Washington Loan & Trust Co,, stressed | the needs of life insurance trusts at the meeting of Virginia bankers in { Alexandria Saturday. He called at- tentidn to the fact that in 1928 | approximately $1,700,000 were paid | out to life insurance policy holders and beneficiaries, and that some $750,- 000,000 of life insurance is now covered by trust agreements held by American banks and trust companies. The statistics of life insurance com panies, said Mr. Baker, appear to in- dicate that a considerable ncrtion of the proceeds of life insurance policies paid 10 beneficiaries is spent within the brief perfod ot seven years. Both trust com- panies and life insurance companies as well as banks having trust departments have adopted a trust agreement as a| means to conserve for a longer period the proceeds of life insurance paid to individual beneficiaries. The trust agreement affords one of | fhe most practical methods of prolong- | ing the time for the benefit of life in- | furance to the beneficiary of it, Through | its use, the seven-year period should be | extended many rs. When the vast amount ot life insurance in force and the small portion of it now held in trust is considered the opportunities for an increase of funds for administration in trust is quite obvious. Every institution having a trust de- partment has an opportunity to greatly nerease its t funds and, through | h an inc to enlarge its profits. | ‘Therefore it is to the interest of fi- duciaries to educate the public and it is of vastly more interest to the public to be so educated because of the pal’a-I mount benefit to the public of the con- | servation of life insurance proceeds, | Mr. Baden asserted. Liberty Bank Officers Re-elected. Officers of the Liberty National Bank were -re-¢clected at_the annual organ- ization meeting of the directors, as follows: George O. Walson, president; E. J. McQuade, vice president and assistant trust officer; M. F. Calnan, cashier; J. B. Skinner, assistant cashier;T. P. Littlcpage, general counsel officer. Heard in Financial District. The Treasury will stop issuing cur- | rency of the present size on April 1 in preparation for bringing out the new bills on July 1. Printing of the new paper has been under way for months The first sheet of 12 bills will be pur- chased by Secretary Mellon and the next 12 sheets of $1 bills will be pur- chased by other Government officials. A marked increase in shipments of coal has greatly helped business during the past week in some parts of the fifth district. Unseasonable weather has been reflected in decreased department store sales, but the open Winter is at the.same time helping the employment situation materially. Directors and officials of the Chevy Chase Savings Bank are planning to tender Dr. Frederick E. Farrington, the president, a dinner at the Columbia Country Club on Thursday evening. This bank has enjoyed steady growt! since its crganization, 1928 having been its best year. H. Parker Willis, authority on the Federal Reserve act, will find a very large turn-out of Washington bankers to hear him on Wednesday evening at the Willard, when he talk Wsucyrusev(2i) 47y [Burns BrosA(8) 1201, 121 ! Chandler-Clev. . and trust | Bucyrus(1)..... 38% 38% 47 47 Burns Bros(B).. Burroughs(4).. Bush Term(g2). Bush Ter de(7). Butte Cop & Zine Butte & Sup(2). Butterick Co.... Byer & Co...... 159 159% 158% 158% Byers A M(rts). 14% 15 14% 15 ByZProducts(2). 119% 120 7119% 120 Calif Pack(4) 5% 76 Callahan Zine, Bk 3% Calu & Ariz (6). 125% 126% CalukHec (235). 55% 53 53w Can Dry (t4%). 79% 79% T9% T9% Can Pacific(10). 242% 244'a 242% 2421 Canon Mills 2.80. 47% 47% 47% 47% Case Thr pf(7)., 125 125 125 125 Cen Aguirre(2). 39% 39% 39 39 Cent Alloyi2)... 47% 47% 46% 47% Century RIbM.. 19% 19% 19% 19% Cerro de Pas(5). 103%a 105% 102% 104 Certain-teed Pro 26 24% 26 “ertain-td pf(7). 8l 8L 81 Certo (14). 834 83 228§ 34 239 240 80 8O T84 79 107% 107% 107% 107% 9 9 9 9 10% 11% 38% 39 10% 11% 381 24% 51 83 Ches & Ohlo(10) 21 C& O Corpn(3).. 8 Chi& Alton..... Chi & Alton pf. Cni & East 111... Chi & East 11l pf Chi Great West. Cni Gt West pf.. Chi Ml & StP.. Chi Mil & StP pt Chi & Nwn (4).. Chi Pneu T new. Chi Pneu TIpf. . Chi R1&Pac(6). 1: CRI&Ppt(6). 10 CRI&PpL(7). 105 Chi Yel Cab(3).. sl Chickasha(3)... 47 Childs(2.40).... 56% 55% Chile Copper(3). 8 89% &6% 89% Chrysler(3).... 119% 119% 117% 1174 City Stores(rts). 5% bW b4 Cluett-Peab(5). 69 69% 69 Cluett-Pea pf(7) 116 116 116 Coca-Cola(6)... 170 170 169% 17 Collins & Alkmn. 52 525 51% b ColFuel & Iron. 71% 7l% 711 170% Col Gas& EI(5). 147 148 146% 1473 Col Gas&EInew. 60% 60% 60 60% Col G&E pfA(6) 107 107 106% 1067 Columbia Graph 83% 83% 81% Col Carbon t43. 129 129% 129 Com Cred(1).... 57% 3 Com Cristpf Com Inv Tr(34). 15 Com Inv (war).. 40 44 Com InTrpf(7) 106% 106% 10 Com Solvnts(8). B 233 283 & 2% 32% n 55% 55 139% 138% 139 % 101% 1013 101% 106% 106% 106% 33% 324 32% 47 47 a7 56% b5% Conde Nast(2).. Congoleum-Nair Cong Cgrs (5).. Con Film ptc2), Comsol Gas (3).. ConsolGaspl(d). ConRRCuba pf 6 Consol Textile. . Container A 1.20 Container B 60c. Cont Baking A.. Cont Baking B.. Cont Bak pf(8 Contl Can (2%). Cont Insur(6). . Contl Mot (80c). Corn Prod t3%.. 8T 87% ! Corn Prod pf(7) 14 143 {Coty Inc (2).... 76% 76! 3 Cruc:ble Stl(5). 90% 91 CubaCaneSugar. 6 5 Cuba Cane Su pf 18 18% Cuba Company.. 227 2 2% 27 5 109% 1081 108% 9914 P 143 "I his is the &lam is in charge of W, W. als ok e P Cuban Am S(1). Cuban Dom Sug. ‘_Cufia x’ksu) . 5% 5% { | | Eastman(t8)... Eaton Axle (3) Bisenlohr&Bro. . Elec Auto L (4). Electric Boat. .. IslecPow&Lt(1). EIPo&Lt £ pd(7) Elec P&LL pf(7) Elec Stor B (5). m Brantgm(A) smp Capwell(2) 3nd-John(5). Eng Pub S(m1). Eng Pu S pf(5). Lquit Bld=(2).. e & Pitts ErieR R. Iirie 1st pf. Irie 2d pt. I3 Moirbanks(3). .. FairbankMpf(7) FedLight(h1.40) Fed Light pf(6). Federal M & Sm. Fed Mot T(80c) . Fldelity-Phoenx Filenes Sons Co. First NatS(1%) Rubber. .. Folansbee (2). Found: 1°ox Film A(4).. Frank-S pf(7).. Freeport T (4). Gabriel Snub A Gardner Motor., Gen Am Tnk(4). Gen Asphalt.... Gen Cable Gen Cable Gen Cable pf(7). Gen Cigars(4) Gen Eelectrie f GenElec sp(60c) Gen G&EI A(12) Gen Gas pt A(7) Gen Mills (3)... Gen Mills pf (6) Gen Motors (5). Gen Mot (New). Gen Mot pf(7).. GenOutdrAd(2). Gen Ry Sig(5).. Gen Ry S pf(6).. Gen Refrac(s).. Gillette S R(c5). Gimbel Bros. ... Glidden (11%). Glidden pr pf(7) Gobel (Adolph). Gold Dust (new) Goodrich(4).... Goodrich pf(7).. Goodyear Tire. . Goodyr 1st pf(7) Gotham H (23). GothHo nv(23) . Gotham pf(7) Graham-Paige. . Grhm-Paige cfs. Granby (6). Grand Unon.... Grand Un pf(3). Grant WT (1).. Grt North pf(5). Gt Nor pf cfs(5) Gt NoOr cfs 2% Grt Wn Sug 2.80 Grt Wn Su pf(7) Greene Cana (6) Guantanamo Su. Gulf Mo & Nor.. Gulf Stat Sti(4). Hacknsk W(1%) Hahn Dept Stor. Hahn DS pf 6%. Har & Walkr(2) Hartmn B(1.20). Hershey Corp. Hershey pf(4).. HockingVal(10) Holnd Fur(23). Hollander & Son Homestake(17). Household(14). Houston Oil. . Howe Sound (4) . Hud Man(234).. Hudson Mot(5). Hupp Mot(£2).. Ilinols Cen(7).. Ind O & Gas (2). Indian Mot (1). Indian Refinin Indian Refg cti Indust Rayon Ingersoll-R(16) Inspiration (3).. LnterboroRapTr. InterconRubber. Internat Agri. .. Int Ag Ch pf(7). Intl Bus Ma (5). lut Cemént(4). . Int Com Eng2). Int Harv (234). Int Harv pf(7 Int Mteh pf 3.20. Int Mer Marine. Int Mer Mar pf.. Int Nickl of Can 1t Paper(2.40). Int Paper pf (7). Int Pa&PoA2.40. Int Papr & Po B. Int Papr & Po C. Int Pa&Po pf(7) Intl Salt(5) 1ntl Silver pf(7) Int Tel & Tel(6) Interstate D S.. Island Creek(4). Jewel Tea (15).. Johns-Many(3). { Johns-Man pf(7) Jones Tea . Jones & L: . Jordan Motor. .. Kan City South. Kaufmn DS 1%. Kayser J (5). Keith-Albee. .. Kelly-Spring... KKelly Tire 6%pt. Kels Hayes(2).. Kels Wh pf(7).. Kelvinator Corp. Kennecott (8)... Kinney (G R)... Kinney pf(8)... Kolster Radio. Kratt-Pho(1% Kraft pf (6%) Kresge Dept S.. Kresge St(1.20), Kreuger & Toll. Kroger Gro(el). Lago O1l. Lambert, Lambert (rts). Lee Tire & Rub. Leh Por Cmt 2% LehighVal(3%). Lehn & Fink(3). Life Sav(1.60).. Lig Myers(t5).. Lig & Myrs B 15 Lima Locomtve, Liq Carb( t43%). Loew's Inc (13). "1 Loew's pf(6%). Loft. Long-Bell(A)... Loose-W (1.60) .. Loose-W 18t(7). Loriilard Co. ... Lorillard pf(7). Louisiana Oil. .. Louls GasA 1.75. Louisv G&E rts. Ludlum Stl(2).. McAndrews 2.85. Me Call Corp(4) McCrory A(2).. McCrory B(2).. McKeespt Tin P McKes&Ro 1.60. | McKsn pf A 3% Mack Truck(8) 183 . 1% 111% 162% 5074 109 100 249% 2 99 110 517% 9% 100 106t 6814 237 116% 118Y% 45 424% 1047 58% 1% 100 115 127 103% 7% 69 101 48 46 89 28% 5L 128 1081 107% 31 39% 176% B 53 Tin 6% 3% 113% 54 Bd% 68 83 430 46'5 19 T4% 6% 944 69% 5414 85% 7 141 29% 1 Inland S(k16% ). 119 214% 82 54% 154% 207 119 94% 114% 30% 128% 117% 26% 91 16% 3% o 86% 44 9% 106 105% 3% 50 59 10513 183% 112 162% 15% 60 48% 51% 109 100% 49 101 10715 6819 238 11% T6% 116% 119% 45 42% 105 61 813 100% 115 129% 1034 78 73 101 48 46 90% 28% 5l 123% 1094 107% 324 40 177% 5 53 % 2614 53% 113% bl 8314 430 4% 19 T4% a7 9443 i1 54% 85 8% 141 3 29% 215 83 b 154% 2074 95% 1587% 534 114% a1 128% 117% 26% 91 16% 3% % 87 44y 9% 106 106 T3% 51% 5974 106% Mengel Co. MetroG pf(1. Mexican Seab Miami Cop (2).. Mid-Continent. . Mid-Cont pf(7). Mid-Cont Pe rts. Middle States Mid States ctfs, Miller Rubber. .. Minn & St Louis Minn StP&SSM. M St P&SSM pf. Mo Kan & Tex. . Mo K&Tex pf(7) Missouri Pacific. MoPacific pf(5). Mohwk Car 2% . Montgom Ward. Moon Motor. ... . Mother L (40¢). Motion Pie Corp Motor Meter A Motor Whi (2).. Mullins pf (7).. Munsingwi(3). Murray Corp.... Nash Motors(6). at Acme(sta) Nat Rellas Hess. NatBHess pf(7) Natl Riscuit(t7) Naut Cash Reg 14 Nat Dairy ($3). Nat Dept Stores. Naf Distillers Nat Distillers Nat Enamlg (1). Nat Lead(5).. . Nat Lead pfA(7) at Pow&Lt(1). Nat Radiator. .. Nat Ry Mex 2d.. Nat Supply (18). Nevada Cop (2). N Y Alr Br(3) N Y Central(8 N Y C & StL(6). N Y C StL pf(6). N Y Dock.uvuusos N Y & Harlm(5) NYNH&Hart(4) NY NH&H pf(7) N Y Ont&Westn | N Y Railways pf N Y State Rys pf N Y Stm pf(8).. NY Stm 1st pt.7. Nort & Wn(710) NorAm b10% stk North Am pf(3). NorAm Ed pf(7) No Germn Lioyd 2 10713 6743 235% Nor Pac cfs(b) Norwalk Tires. Nunnally Co. ... 0Oil Well S pf. Orpheum pf(8) Otis Steel...... Otis Stl pr p Owens Bot (c4). Pacific Coast. .. Pac Coast 2d pf. Pacific Gas(2).. Pac Oil Stubs... Packard Mot(3). Pan-Am Petrolm Pan-Amer Pet B. Pan-Am Wn B.. Panhandle..... Panhandle pf. .. Paramount-F-L Park & Til1(13). Park Utah(80c). Pathe Ex. Pathe Ex(A). Patino M(2.92). Peerless Motor. . Penick & Ford.. Penn C&Coke. .. Penn Dixie Cmt. Pa Dix Ct pf(7). Penn RR(3%).. People’s Gas(8) Peoria & East. Pere M prior(5). Pet Mjlk (1%).. ‘Phila&RC&I. Phil Morris(1).. Phoenix Hosiery Plerce-Arrow. .. Plerce-Arrow pt Pierce Oil . Plerce Oil pf. Pierce Petrolm., Pilsbury (1.60) Pitts Coal . Pitts Ter pf(6). Pitts&WVa(6). . Por RicoToA(7). PortoRicoTobRB. Postal T&C pf 7. Postum(3). 15214 Prairie Ol 9213 | Prairie Pips L. . Pressed Stl Car. Pr Stl Car pf(17). Produ & Refinra. Pubic SerNJ (2). Pub Serv pf(6).. Pub S NJ pf(8). Pullman Co(4). . Punta Aleg Sug. Pure Ol (1).... Purity Bak(3).., Radio Corp..... | RadioCo pf(314) .. | Radio (new). Radio-Keith(A). ReadingRy(4).. Real Silk Hos. 2eiS(R)& Co. Rels 1st pf€7) Remingtn-Rand. Reo Mot (1) Repl&S(4). Rep I &S pf(7). Reynolds Spngs. Rey Tob B 16%. Reynolds B new . Richtield O1l(2). Rio Grande O1l. . Rossia Ins 163 . Royal Bak P(1), Royal D(a3.222 Safeway (3). Safeway pf (7) St Jos Leua1s). StL & SanF(18). StL&SanF pf(6) StL&Southwest. Savage Arms(2) Schulte (§3%).. Sears-Roe(12%) Seneca Copper. . | Shattuck FG(2). Shell Un(1.40). Shubert The(5). Simnions Co(3). SimmsPet(1.60) Sinclair Oil..... Sinclair pf(8)... Skelly O11(2)... Snider Packg Co Soider Pkg pt So Por Rico(2 | South Calif Ed. . South Dairles B. South Pac(6)... South Ry(8). South Ry pf(5). 10514 | SOURYM&O cfs 4 5% g |SpangChalfnt.. | Spicer Mfg..... Spiegel Co (3).. { Stand Com T(1). TISWG&E (3%). {Std G &Ept(4). Std Milling (6). Std Millg pf(6). Std Milling(rts) . Std O of Cal(3) StdOIINJ(t134). StdO!INY (1.60). Std Plate Glass. Std P Glass pf.. 106 | StdSanPro(1.68) 73 | Staniey'Co...... 49% Stewart-War(6) 587 Stromberg (3). 106 Studebaker(5). 36% ) 8414 44% 8% 104% 104% 105% 73 49% 58 104% Motor Prod(2),. 1 North Pac(5)... 1 * | Ofl Well Supply. . Phillips P (1%). | 135% 358% 55 3% 1 107% 834 SIBHI'E_' Bi“- é 22% 184 173% 6 139% TidewatrO(80c) Timken R B(6). Tobac Prod (8). Tobac Prod A(7) Transcont Oll. .. Trico Prod(2%) Truax Traer. ... Truscon St11.20. Twin CityRT (4) Twin City pf(7). Undwd-El F (4) Un Bag & Paper. Union Carb(6).. Un Oll Cal2)... Union Ol (rts) Union Pac(10).. Un Pacifie pf(4) Utd Biscuit 1.60. Utd Cigar St(1). Utd Cgr St pf(6) std Elec Coal. .. d Fruit(t5%4). Utd Paperboard. US Cast Ir P(2). US CIP 1st 1.20. US CIP 2d 1.20... U S Distributing U S Distrib pf(7) US Hoffman(4). 1 S Alcohol (6). U S Leather.... U S Leathr A(4) U S Realty(4).. U S Rubber..... U S Kub 1st pf.. U S Smelt(33%4). U S Steel(7).... 100 204% 51% Univ Pipe & Rad Util P&L A(e2). Vadasco Sales. .. Vadsco Sales pf. Vanadium (14). Van Raalte..... Van Raalte pf... Vick Chem(4)... Victor Talkg(4). Vietor pr pf(7).. Vi Wabash B(5) Waldorf(1%) Walworth(1.20). Ward Cl A(8) Ward Baking Ward Bak pf(7). Warner Bros Pic Warner Bros pf. Warner-Qu(2). . Warrn Bros (15) Warren F&Pipe. Web & Helil..... Wesson Oil (4).. W Penn E1 A(T). W Penn El pf(6) W Penn El pf(7) West DairyA (4) West Dairy B. .. West Maryland. West Md 2d pf.. West Pacific pt West Union(¥). Westhse A B(2). Westinghse(4) Westhse El rt Westhse 1st(4). Weston Electric. White Eagle(2). White Mot(1)... White Rock (3). White Sew Mach Wilcox Ol & G... Willys Ov c1.20. Willys-Ovd pt 7. Wilson & Co.... Wilson Co pf A Wilson & Co pf. Woolworth (§). Worthn Pump. . Worth Pump(B) Wright Aer ‘2), 2 Wrigey ((13%). Yale&Towne(4). Yellow Truck. .. Yel Tr & Co pf.. § Young Spring.. 59% 60 581 58% Youngstn Sh(5). 115 115 114 114 Hourly Sales on N. Y. Market. 10:30 a.m.. 821,300 12 m... 2,246,500 1:30 p.m. 8,463,000 2:15 p.m3,906,200 Dividend rates as given in the above table the annual cash payments based on the quarterly or half-yearly declarations. ¥ Partly extra. t Plus 4% In stock. § Plus mit of trading less_than 100 shares. 13 In preferred stock, 1 Plus 1/25 in stoc % 624 381a 85 or I . Pavable 1710 Share auarterly, in stocl P United Cigar Stores common stock. 1% % In stock. Money and Prices Speclal Dispatch to The Star. NEW HAVEN, Conn., January 21.— Shifting direction on the part of vari- ous commodity groups, with initiatve taken by farm and food prices, affected little the index of wholesale commodity prices as based on Dun’s quotations. It registered 97.2, a one-tenth-point rise last week from the previous week’s level. Similarly the dollar's purchas- ing power fell very little. Well man- aged credit control and comparative steadiness of gold supply thus continue to aid relative price stability and keep dollars on an even level. Larger gold reserves than in_years featured the British situation. Prices there increased but slightly, however, and French prices were up only three-tenths of a point. Fluctuations in the general wholesale price level and in the purchasing power of the dollar are given below for the United States for various periods, based mainly on Dun’s quotations. The aver- age for the year 1926 is the base used. ‘Whole- Purchasi sale power; c price departure index. from 1926. Week ended— January 18. January ot ELEEe it ooonnmnaninoe bp 4t b dtt Soima oD Lk average. Foreign Commodity Prices. Cable reports from abroad indicate the following European wholesale move- ments: (1926100, Week ended— January 18 January 11 England. France. Ttaly. 91.3 © = Year ago. « December aversge. November averag October average: 2838528: =SSSESRS P TR SHRERATATEZ: Segensnssoses Sseososons: Szamagzanasa .3 ge. .0 100.0 (Copyright, 1929, by Irving PFisher.) s iy Gas Industry Leads. NEW YORK, January 21 (P»—The manufactured gas indusiry led the fuel industries of the country in sales last year, the American Gas Association re- ports. The increase for gas sales is placed at 3.8 per cent, compared with 2 per cent for coke, 1 per cent for crude oil, a decrease of 4.8 for soft coal and 5 % ber cent decx_egse'er anthracite, ki e e - § Ry e vy realizing sales and price recessions went on simultaneously with sharp advances in gther parts of the list throughout today’s stock market session. The turn- over was the largest in over two weeks, although activity fell off somewhat in the afternoon. The selling was heaviest {in the last quarter of an hour. The copper stocks were the leaders all day. North American was in active demand among the utilities, but the steels and most of the motors sold off. Studebaker was a striking exception in the last-named group. The feature was Anaconda, just as U. S. Steel had been in the latter part of last week. Anaconda opened on a block of 25,000 shares at 124';, com- pared with the preceding elose of, 122. From the 1nitial quotation it advanced to a new high record as it crossed 126.k The stock changed hands in enarmous volume on the way up, and took along with it, but for much more modest gains, some of the other coppers, in- cluding Kennecott and Chile. Calumet & Hecla was another strong member of the group. Selling in Steel. ‘While this speculation in the coppers was going on, selling came into the steel stocks. United States Steel was carried down more than 5 points from Saturday’s high—not a large reaction; however, for a stock that had gone up nearly 22 points in a week. Steel ral- lied after the early profit-taking had been effected. Bethlehem Steel dis- played independent strength, but Vana- dium weakened. The most persistent selling was wit- nesed in some of thedll;;zwrs.l (ihr}l';le: dropped 3 points an upp lost abou as pgleuch, msl?dehaker, under what seemed to be skilled guidance, was rushed up across 91, higher than at any | time this year or last. General Motors was not particularly active on one side or the other. X i The rails made a good showing. Southern Pacific, Baltimore & Ohio and Great Northern preferred were strong, and so for a time was Chesapeake & Ohio. Rock Island held the sharp ad- vance it had recorded on Saturday. The talk was of an increase in the divi- dend at the next meeting, with pos- sibly something in the way of an extra. Pennsylvania sold off, but not impo tantly, meeting support around the 80 level. Leading industrials moved conlus&dly. United States Industrial Alcohol was at a new high in the first hour, but Air Reduction, which is controlled by the same . interests, dropped more than 6 points under its best of last week, rally- ing subsequently. National Cash Reg- ister was an early feature, selling at the highest since listing and up 4 points from the preceding close. Shat- tuck was higher also, but Westinghouse Electric, International Nickel new, Allied Chemical and Postum were lower. Traders Hesitant. Money renewed at 6 per cent and the expectation was for comparatively easy ddy-to-day credit for a week or more. Traders nevertheless continued to talk about the possibility of an increase in the rediscount rate. They were willing to go along with any stock which showed signs of “moving” but when it faltered they were quick to liquidate. Notwithstanding the show of strength, there was none too much confidence in | the general situation. Wall Street Briefs Stockholders of the Boeing Airplane & Transport Corporation, Seattle, | Wash., have voted to increase author- ized cumulative preferred stock to 1.- 000,000 shares from 200,000 and au-| thorized common to 2,500,000 shares | from 650,000. The corporate title will | | be changed to United Aircraft & Trans- ! port Corporation. Lumber sales in the United States in- | creased sharply during the week ended | January 12, reports from hardwood and | softwood mills to the National Lumber Manufacturers’ Association showed. Softwood mills reporfed a 20 per cent increase in new bisiness over the,l previous week and hardwood mills a small increase. Production also in- creased. Orders to 784 mills called for 330,482¢000 feet of hard and soft lmodi lumber against 283,499,000 feet the previous week. Production was reported as 340,465,000 feet, against 265,073,000 feet the previous week. i Steel makers in the Youngstown dis- | trict report heavy shipments of strip steel to the automotive industry at prices of $1.80 a pound for wide stock and $1.90 for narrow strips. Exports of raw and manufactured tobacco from the United States in the first 10 months of 1928 increased 7 per cent over the corresponding period of | 1927, the American Tobacco Co. re- ports. The manufactured exports, chiefly cigarettes, were valued at more than $20,000,000, against $14,000,000 | for the corresponding 1927 period, and raw tobacco $112,484,000, an increase of $7,000,000. The cigarette exports have increased steadily since the war. Sales on the National Raw Silk Ex- change, New York, set a new high record last week. The total was 4,750 ! bales. The previous record, set the | week before, was 4,330 bales. Certified | stocks of raw silk on Friday reached 1,725 bales, also a new record. ‘The replacement of isolated electric power plants by interconnected sys- tems, with current supplied by central- ized plants, is shown by a United States Bureau of Census summary of electric plants in Kentucky. Individual com- ' mercial systems in the State decreased from 111 in 1922 to 33 in 1927. At the same time municipal systems de- creased from 27 to 8. Output of energy, however, more than doubled and cus- tomers increased by about two-thirds. The Detroit Edison Co. and subsidia- ries report net income for 1928 totaling | $12,643,590, against $10,151,537 in 1927. N U. S. TREASURY RECEIPTS. $5,876,507.61; expenditures, 247.82; balance, $4' SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Allis-Chalmers Co. 55 Alum "~ Co. er. Tel. & Balto. & Ohio_4ia Batavian Pet, Corp. Bell Tel. of Canada California Pet. Corp. Carfadian Nat. Rwy. 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