Evening Star Newspaper, January 21, 1929, Page 11

NCIAL Money to Loan Reoured by first deed of trust on real estate, Mivynfiine i-tosuh anA smiieaton, Joseph 1. Weller 2 Wah 1. & Mortgages Investments JAMES Y, PENNEBAKER 5328 1520 K St. N.W. Buck & Company BROKERS Established 1918 Stocks Bonds Grain Cotton Write or call for weekly market letter No ohlioations BUCK AND COMPANY Evans Bldg. 1420 New York Franklin Westheimer & Company Members of the New York Stock Exchange Baltimore Stock Exchange Cincinnati Stock Exchange Chicago Board of Trade WOODWARD BUILDING Telephone Main 5500 Private Wires to All Important Points EerE ) Real Estate Financing Second Trust Notes purchased at reasonable discounts, secured on District of Columbia and nearby Maryland property. We Solicit Your Application National Mortgage & Investment Corporation 1004 Vermont Ave. N.W. Main 5833 Secured by First Mortgages Safe—Conservative Make your savings and surplus funds work for you at the highest inter- est rate consistent with absolute safety, Wm. H. Saunders Co. Inc. REALTORS Main 1016 41 Years' Experience in financing homes and in the sale of these se- curities. 1433 K LOANS On improved Property in Maryland and District of Columbia 6% Interest No Commission Charges WEAVER BRO .{ REALTORS 809 15tk Street N.W. Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company Bivest Your Money to Earn 69, With Safety 6% Washington and interest, ~ Besides, These Notes can be s ments. You have choice of location and type of property. Denominations from $250 upwards. 6 ;0 send_for Booklet The Success Plan” . REALESTATE MORTGAGE & GUARANTY CORPORATION Capital Resources $3.400.000 24 JACKSON PLACE ||| for high grade issues. Guaranty Mortgage | Bonds on completed fee-simple ideally sit- uated properties in suburbs pay you s‘fi. Bank of Bethesda.. with absolute security of both principal and our $3,400,000 resources are behind your investment, | W tured on monthly pay- | [RONDS OF COPPER FM SHOW GAN Convertible Issues Move Up- ward, With Similar Rise in Stocks. BY CHARLES F. SPEARE. | Special Dispatch to The Star. NEW YORK, January 21.—Decided strength was shown in the market for copper convertible bonds today, as well as in some of the generally inactive and |{low priced railroad and traction issues. The volume of trading continued moderate. One of the important inci- dents of the day was the offering of approximately $80,000,000 of new stocks and bonds. Moving with the copper stocks, the | convertibles rose to the highest figure of | the year. Anaconda Copper 7s crossed 1200 early in the session, and later went higher. Anglo-Chilean %s, in which there has been a revival of speculation, were marked up several points, entering new high ground. In the oil group a | rise of over 2 points in Barnsdall 6s was | the feature. | International Telephone 4!'5s, which i represented about 15 per cent of last | week’s total transactions in bonds, were | iregular, showing the effect of profit- | taking on the recent advance of 5 | points. They are still being dealt in on a “when issued” basis. The accumulation of Jinneapolis & St. Louis and Iowa Central securi- ties was at a smaller rate, but at higher prices than last week. St. Paul adjust- ments were benefited by the announce- ment that the full 5 per cent available on these bonds will be paid this year. New York State Railways 6',s made a further gain. The 6 per cent renewal rate for money failed to stimulate the market The First Liber- ty 41.5 dropped below par again and the Fourth 4145 were around that level. Treasury issues were irregular. Legal rails and public utilities had a heavy tone and were very dull. Among for- | eigns, French government and munici- pal descriptions showed a uniformly strong tendency. It is some time since so large a vol- ume of new securities has come on the market as was offered today. This in- cluded $50,000,000 by two investment trusts, half in preferred stock and half in convertible bonds; a $20,000,000 6 per cent bond issue by a bituminous coal company;, a Canadian provincial issue of approximately $6,500,000 on a 4.80 basis and a 7 per cent first mort- gage bond by a Texas corporation en- gaged in the production, transportation and sale of natural gas. Today's total will give a more respectable size to the offerings for the month, though She final figures will show the effect of the present indifference of investors to new bond issues. SILVER QUOTATIONS. _NEW YORK, January 21 (#)—B silver, 56%; Mexican dollars, 43%. il . Electrical Equipment. NEW YORK, January 21 (#).—Cur- rent buying of electrical equipnient is above the average for the first month of the year, Electrical World rep:’r‘tl‘v Power companies and railroads have mapped out budgets for the year highly encouraging to the industry. Washington Stock Exchange SALES. c.lpl)i;“,z.m“lon Co.—10 at 10714, 6 at Potomae Electric 6% pfd.—5 at 112, Potomac Electric 51,% pfd.—15 at 108%, 10 at 108Y4, 10 at 108, 5 at {8:‘/4, 2 at 1083, 40 at 108%, 20 at Riggs National Bank—10 at 580, 8 at 580, 4 at 581, 20 at 81, 10 at 581, 4 al . A"“:;"““ Security & Trust Co.—10 at Piremen's Insurance Co.—27 at 40, 15 at 40, 25 at 40, Co’h;znbla Sand & Gravel pfd.—5 at %. Lanston Monotype—10 at 121. Merchants Transfer & Storage pfd.—9 Mlt 10';12., ergenthaler Linotype—10 at 104, 10 at 103%, 10 at 1033, Ter. Ref. & Whrs. Corp.—10 at 52. AFTER CALL. Georgetown Gas 5s—$1,000 at 10215, Columbia Sand & Gravel pfd.—10 at 94. Ter. Ref. & Whrs, Corp,—30 at 52. Bid and Asked Prices. BONDS. PUBLIC UTILITY. & Telga. 4% Bid. Asked. & T Amer. Tel el | Amer, Am. Tel . guAr. S & P." Telephone S. & P. Tel of Va Cap Traction R. R, City & Suburban 5s | Georeetown Gas 1st Potomac Elec. Potomac Elec. Po anh, * 2 Taner Mfg. 6s..... Joint Stock Ld. Ba v. M. Cold Storage Ss... | Wash. Cons. Title Co. 65 Wardman Park Hotel 515 STOCKS. PUBLIC UTILITY, W Ste: S Elec. pi Potomac Elec, 513% pid. Wash. Rwy. & Elec. com Wash. Rwy. & Elec. pfd NATIONAL BANK Comny District 8 “ederal-Anierican Bail Liberty .. - National Bank ‘of ‘Washingfon. TRUST COMPANY. Amesican Secuzity & Trust Co, 465 Continental Trust Bt Merchants' Bank. ... National Savings & Union Trust. .. o Washington Loan' & ‘Thist SAVINGS BANK 250 33 Commerce & Saving East_Washington. .. . Potomac Security Sav.'& Commercial Seventh Street e United States Firemen's p 4 | National Uniion s TITLE INSURANCE Columbia Title SRt Rral Estate Title Title & Inv Co. of Md. ‘com Wash. Cons Title pfd. .. . MISCELLANEOUS, r & Ross. Inc.. com Chase Dairy pfd. .. t Farms dairy com Chestnut Farms Dairy pfd Col. Sand & Gravel pfd Commercial Natl. Co. pfd D. C. Paper Mfz. pfd.. Dist.’ Natl. Securities pfd Federal Storage pfd..... . Federal-American Co.’com. . Federal-American pfd Lanston_Monolype. ... """ Merch, Trans. & Storage odward & Lothtop pi *Ex dividend, THE EVENING STAR, WASHINGTON, D. CT. MONDAY, JANUARY 21 | nnew Yore B(O)NDS srock ex I CHANGE fhice Received by Private Wire UNITED STATES. (Safas are in $2.000.) Sales. High. Low. Close 50 9914 995 997 31 1004 9931 1004 §73 1005 100 1005 43 9722 978 9720 57 9728 9720 9728 66 10216 10210 10210 111 10518 10511 10511 20 11014 11013 11013 FOREIGN. Sales. High. Low. Close. Argentine 6s Ju 59, 11 100% 100 100% Argentine May '61. 19 100% 100% 100% Argentine 6s Oct 59 100 100% Argentine 5%s ‘62, 96% 967 Argentine 65 A.... 1005 100% Argentine 68 B 1008 Australia 4% 56.. 88 Australia 551955, .. Australia 68 1957, Austria 7s...... Bank of Chile 6%s. Bank of Chile 6%s. Belgium 6s. Belgium 6% Belgium 7s 1955 Belgium 7s 1956. . Belglum 7%s Belgium 85 Bollvia 7s. Bolivia 8s. Bordeaux 65. . Brazil 6145 1 Brazil 6%s 1927, Brazil Ts. Brazil 8s. Bremen State 7s, Canada 53 1931 Canada 55 1952. .. Canada 5%s 1929, Chile 65’60 Chile fs '61. Lib3%s.... Lib 1st4ys 22 108% 2 106% 10 115% 1 109'3 T 94k 12 104 2 99% 90 22 95% 4 100% 15 1081 2 102% 6 101% 15 104 15 100% 9 94 33 94 9 102 16 90% 1081 101% 101 104 100'% 931 93% 1011, 90k 98% 88 97 1024 110% 1L B9 104% 10235 100'% 9619 106 107% 102% 101 Colombia 6s Jan's1. Con Pow Japan7s.. 2 99 Copenhagen 414853 6 88\ Copenhagen bsct.. 2 97 Cuba 5%S....00 3103 Czecho 83 1951 10 111 Czecho 83 1952 4111 Denmark 4%48...... 44 89% Denmark 6x. 3 104% DE15%s Mch53.. 1 102% Flat 7s x war ,46... 34 1005 Finland s f 63 '45... 5 Framerican 7%s. French 7s. French 7%s. German EI P 6%4s. German 7 Ger Am Bank 7. Ger Gen Elec 7, Haitl 6s... Hungary Tls..... Irish Free State 58 Italy 7s..... Italian Pub S 7 Japanese 4s. Japanese 64 Lyon 6s..... Mexico 4s 04 asntd. Mexico 45 '10 asnt. . Milan 61 Montevideo 7: Netherlands 6s 54. New So Wales 57s.. New So Wales 58s. . Nord 6%s. Norway 5s Norway 5%s. . Norway 651943, Norway 6s 1944. Norway 6%s 1952, Orient Dev deb 6; Paris-Ly-Med 6s Paris Orleans 5%s. Peru 6s 67 wi. Peru 6s ctfs. Peru 7s. Pirelli 7s Poland 6s 40. Poland 7s (rcts) Poland 8s.. Queensland 7s. Rhinelbe Un 7. RhineWst EP 6s'52 RhineWst EP 6s'53 RhineWst EP 75’50 Riode Janeiro 648 Riode Jan 85 1946 Rio Gr Do Sul 8s Rome 6% e Sao Paulo 8s 1936.. 1029 100% 96'% 10 106% 106% 40 107% 8 9% 1 100% 1 100% 24 95% 32 9% 5 94% 6 92 14 101% 9919 228, 100' 100% 9515 96% 94% 92 100% 994 225 2113 89% 103 100 944 100% 100% 4 109% 104 1% 96%a 101 954 106 105% 0013 106 Serbs Crot Slo 88 Shinyetsu 6%s 52.. Soissons 6s Sweden 5% Sweden 6s. Swiss 5%s Swiss Confed 8 Toho El Pow s Tokin 5%81961.... 13 89% Utd Kingm 5%s 29. 27 118% Utd Kingm 5343 37.~36 104 Vienna 6s°52....... 9 87% 8T% Yokohama 6swl... 4 96 95 MISCELLANEOUS. Abram&Straus 518 22 117 116% AJax Rubber 8s. 104 AmAETIChem 738, 105% Am Chain 6533 98 Am NatGas 6% 9513 An Smit & R 15t 5s. 101 Am Sugar Ref 104 AmT & Teltr & 994 AmT & T cl trbi 104 AmT&Tst5s. 3 1047 104% Am Tel & Tel 6%s. 26 107 Am Water Wks 5s. 8 Am Wrtg Pap 65’47 1 Anaconda 1st6s... 26 Anaconda cv db 7s. 159 2 Armour&Co414539 8 Armour Del 5. .. 22 Associated Oil 6s,. 3 AtlGulfS58...... 2 Atlantic Iefin Barnsdali 65 1940.. 82 Barnsdl 65 w o war 11 Bell Tel I’a 53 BB Bethiehm Stl pm 58 Beth Steel rf 5s. .. Beth Steel 5% 5. Bethlehem Steel Skiyn Edison bs... 6 1 Bush Term Bldg 55, 5 Certain-Td5%srcts Chile Copper bs. ... Colon Oil 6338, Col Gas&El deb 5s. Con Coal Md 1st 5s. ConGas N ¥ 6%s.. 13 Consumers Pow 55. Cuba Canecv 7s. .. Cuba Cane §s. Cuban Am Sug 8 Denver Gas 5s.... Detroit Edison 6 Dodge 65.., Donner Ste. Duquesne 4% East Cuba Sug T%s Fisk Rubber 8s. ... Gen €able 5145 '47. Gen Mot Ac Cor 6 Goodrich 6% Goodyear 58 rets. Humble 011 55..... Humble O & R 514s. Lllinois Bell 1st 5s.. Inland Stl 434878, intl Cement bs 48. intl Match bs 47 Int Mer Marine Int Paper 53 47. Inter Paper 6s.. Int Tel&Teleg 4% | Int Tel&Tel 4% wi10: | Kayser J & Cob% Kan G & I 68 52 Kelly-Spring 8s. .. 118% 103% 118% 103% 87% 9% 17 104 106 99 95% 101 104 994 104 1047 107 a3 135% 994 10215 100% 107 104% 100 100% 94 113% 98% 103 107% 93 1005 107 10414 100% | 73 104t 2 100% 2 100% 4 94 3 114% 9815 9315 99% 9 1010 2 104% 99%, 101% 104% 8 9 5211 Laclede G Ligget&M Loew's Tuc 6s Loew's 63 w 0 war. Lorillard Lorillard 5%s Louisv G & K 6s 52, Mid-Con 6% s 40. .. Midvale Steel 58 Mont Pow 58 43 Mor's&Co 1st 4% Nat Dairy 5%s. . 2 1041 103 3% 10315 105 993 7 1037 103% 106% 106% 104% 104% N Y Edison 6%s. a NYGELH&P4s 2 "Chi M&SP 4 | Nor Pac 3s 2047.... Direct to The Star Of PacT & T 1st 58 Phila&ReadC&]1 5s. Philips Petro 6%s.. 17 Public Service 4148 100 Punta Alegre 7 .. Rem Rnd 5% s war. Sinclair O1l 6s. . Sinclair Oil 6%;s. Sinclair O117s. Stand Ol N J 5s 46. Tenn Copper 6s 41. TennElecPow 65 47 Transcont] Oil 6148 United Drug 5s 53 U S Rub 1strf b US Rub 7%s. U S Steel s £ b Utah Pow & Lt 5s.. tilities Powr 548 124 Warner Sug 75 39.. 10 West Elec 5s Westn Union bs Westn Unlon 6%s. . Westinghouse 5s. .. ‘White Eagle O 5%s Willys-Ov 6%s 33 Wilson & Co 1st 6s. WinRepeatAr 7%s. Yngstn S&T Ss wi. At&SF cvt 4s 0| Atchison adj 4s. Atchison gen 4s. At & Birm 4s 3 Atl & Dan 1st 4s 43, AtianticC L 1st ¢s. AtlanticC L 4%s 64 B &0 Gold 4s B & O Toledo 4s. ... B& O PLEWY 4 B & O SWis 50 Bang & Aroos 4s 5 Boston & Maine 5s Brdway&Tth Av 5. Brooklyn Elec 6%s. Brooklyn Elev 6348 Bklyn Mannat 6s... Buff R& Pitt 4%s.. Canada South 53, Can Nat 4%s 30. Can Nat 435 54, Can Nat 4%s 57. Can Nor 435 1935.. Can Pac 415 46. Car Clinch&O 6s Central Pacific 4s.°, Cent Pac 1st 5s 9t Chesa Corp 5s w 1. Ches & O gn 4%s Chi B&Q gen 4s 53. Chi B & Q 1st rf 5s. CB&QIlldiv4s.. Chi&E 111 gn 5s 51, ChiGt West 4s 5 Chi Ind&L gen 5 o M aemllonSmBranahanes ChiMIISP&Pachs?s. 75 CMSP&Pacadi5s03. 252 | Chi & NW gn 3 Chi NW 41gs 2037, Chi & NW 6%s. Chi& NW Ts Chi Rys 5s. o Chi Un Sta 4% Chi & W Ind cn 4; C&W1b5%s62. CCC&StL5s D CCCaStLrfésA. Clev Term 5 C& S st 4s 2 ConnRy&LA4%s sta. Cuba R R 5s.. Cuba RR 7% Cuba Nor 5% ct PR T ey NEZ BeoCar~5 EastTennVa&Ga 58 Iirie 15t cons 4s... Irie Gen 4s..... Erie conv 48 A Erfecvt 5567 w 1. Erie conv ext 7s. Fla East C 55 74... Gr Trunk stdb 6s. Grand Trunk is. Gt Nor 4%s 76 D Great North 5s Great North 53%s.. Great Nor gen 7s... Green B & W deb B. Hav El Ry 5%s 51, Hud & Man aj 5s. . Hud & Man ref 5s. 111 Cent 4s 53. . L} Cent 4% 66.... Ll Cent Chi 43s. .. 111-C-C-StL&NO 5s. Int Raptd Tran 5s Int Rap Tr 6s stpd Int Rapid Tran 6s, Int Kap Trans 7s. Int & G Nor 1st 6s Int&GtNor adj 6s 5% InLEysCA §s72.. Int Ry C Am 6s 41.. Int Ry C A 6%s ret. lowa Cent rf 4s.... Iowa Cent 1st 5. Kan City Ft S 45 KKansas City 8 3s. Kansas City 8 bs. Kan City Term 4s. Lake Shore 45 31. Lehtgh Valen 4s. .. LehiVgen 415 Lehigh Va) Louis&Nash uni 4s. L &N 4382003, Louis & Nash 7s Man Ry 2d 45 2013, Market St 75 40. Mil 1 Ry & L 58 Minn & StL ref 4s..155 Minn & StL cn bs. Minn&StL fd MStP&SSM5 MStP & SSM 5%s. M StP & SSM 65, MK&T st 4s.. e KEZa R S S T TS O P+ MK & T adj 5s.... Mo Pacific gen 4s. . Mo Fac 58 F 17 Mo Pacific 55 G '7 Mont Trm ref 5s 41. Nash Chat&StL 4s. Nassau 11 45 51. NOTex &M 5s B. NOT&M5%s. NY Cengen3%s.. N Y Cent 4s 98 NYChi&StL 5% B, NYC&SUL6SA NY Sus&Wn g New Haven 3155 54 NY NH&H db 4s 57. NYNHG&H 4%s.. NY NH&H clt 6s. .. NY NH&H cv db 63 N Y Ont W st 4 N Y Rys 636 Y ’ NYS NYW B Norfolk & W cn 4s. { Northern Pacific 4s. Nor Pac 4168 2047.. Northern Pac 58 D. Ore Short L rfs 4s. Ore Short L 5s gtd. Pennsyl gen 413s. . Penna R R 4%8'63. Pennsyl gen 68. ... Pennsyl 55 64. Pennsyl 6%s. Pennsyl zold 7s. Philippine RR 4s. . G B R —te B Do e 110 1014 1014% 4 100% 10115 102 102 4 101% 101Y% 101% 101% No Am Ed 6%s'63. Nor Ohio Tr & L 68. Nor States Pow bs. Reading J C 45 51.. Rio G West ¢l 4s. St L IM&S 48 29 StL IM&S gn 68 31, St L IM&S R&G 4 StL&SF pl4s A9 5 StL&SKFr4%s787 82 RAILROAD. PP TG - JOPY High. Low. 10274 10274 104% 99% SL 991y 105% 106% 102 97 92% 102% 107% 100% 94% 83% 6 103% 103% 110 0 105 104 102% 10314 107% 101 1024 102% 107% 1003 0% 9244 985 101 10t 1001 100% 105 5 105% 9314 10012 B Bl 101 104 Thix 97k 106% 106% 102 Close. 1027 1044 100% 831x 991y 105% 10615 101% 1025% TBta 3% 1005 St 106% 977 106% 1061 o's | Lowest Rates of Interest and Commission FRUTS PLENTIFUL | ATD. C. MARKET Poultry and Egg Supplies Are Also in Evidence Here. Green corn, genuine roasting ears, did not fare so well in a 3,000-mile trip here from California to make its appearance at a season when snow ! ordinarily would be expected. It was not as tender and juicy as the trade demands, according to dealers, and it was offered at retail as low as 50 cents a dozen. Other produce from Califorpia was in much beiter condition, however, and found ready sale at prevailing prices. Wholesalers had ample supplies of most vegetables from California, Florida, Arizona, Texas and other States to meet demands, and displays about wholesale houses were attractive. Displays of fruits from various sec- tions of the country also were attrac- tive. Oranges and grapefruit con- tinue plentiful and cheap, dealers re- ported, and apples also were plentiful this morning. Pears, box stock, from the West, and grapes from California were not so plentiful, although supplies were equal to demand. Poultry Supplies. Poultry dealers this morning had at- tractive supplies of chickens, turkeys, ducks, geese and keats to offer the re- tail trade. Poultry received the past few days has been exceptionally fine, dealers say, and there has been a gaod demand for it. Warmer weather the past several days suggested to dealers in marine products that increased receipts of ! iresh fish and oysters®should result. Some fish have been caught in the creeks below Alexandria the past few days, some of them reaching the local market alive and finding ready sale. Increased receipts of eggs the past few days suggested the probability of | lower prices this weck. Dealers say there is scarcely any probability of higher prices in the near future unless blizzard weather should appear and continue for a few days. Prices of most commodities this morning®were substantially the same as prices quoted at thé close of last week's market. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 47a48; tub, 46'2a47; store packed, 30a35. Fggs—Hennery, 40; fresh selected, 37 a38; current receipts, 35; storage, 30a32. Poultry, alive—Turkeys, 37a38; Spring chickens, 35a36; Leghorns, 30; fowls, 28a30; roosters, 19a20; ducks, 25 geese, 20; keats, young, 50a60; old, 30. Dressed —Turkeys, 40a45; Spring chickens, 38a 40; Leghorns, 30a32; fowls, 30a32; ca- prons, large, 45a46: small, 38a40; ducks, 32a33; geese, 25a30; keats, 80a1.00. Meats, fresh killed—Beef, 20a23: veal, 24a27; lamb, 30a32; pork loins, 22 a23; fresh hams, 23a24; fresh shoul- ders, 17; smoked hams, 25a26; smoked shoulders, 17; bacon, 20a22; lard, in tins, 1314: in tubs, 13. Live stock—Calves, 13al4. Game—Rabbits, 30a35. Fruit and Vegetable Review. The daily market report on fruits and vegetables (compiled by the Market News Service Bureau of Agricultural Economics), sales to jobbers except where otherwise noted, says: Apples—Supplies moderate; demand light, market steady; barrels, no sales reported; boxes, Washington, medium to large size, extra fancy Delicious, 3.25 23.50; Romes, 2.50; Staymans, 2.50a2.65: bushel baskets, Virginia, U. S. No. 1, 212 inches up, Staymans, 1.75a1.90. Cabbage—Supplies moderate; demand moderate, market steady; Florida, 1'2- bushel hampers, pointed type, mostly | 2.50; South Carolina, barrel crates, | pointed type, 3.50a3.75; few 4.00; New York, sacked, per cwt., Danish type, 2.60 | a2.75. Celery—Supplies moderat moderate, market steady; California, | crates, 6.00; few higher. | Lettuce, Western—Supplies moderate; “ demand light, market unsettled; Arizona, | crates, Iceberg type, 4-5 dozen, fair) quality and condition, 3.00a3.25; poorer, | 2.50; California, Imperial Valley, crates, Iceberg type, 4-5 dozen, 4.5024.75. Southern—Supplies _light; demand light, market steady; Florida, 11>-bushel | hampers, big Boston type, 1.25a1.50; bushel baskets, 1.00a1.25. Onions—Supplies light; demand light, | market firm; Ohio, 100-pound sacks yellows, U. S. No. 1, 5.50; Holland, 112~ pound sacks, yellows, No. 1, 5.25a5.50. Potatoes—Supplies moderate; demand '162a17; lambs, demand BY KENNETH S. VAN STRUM. NEW YORK, January 21.—Last week the stock market acted in the same manner that it did the previous week— reactionary during the first two days, advancing in midweek and falling off again at the close of the week. The general level of prices made no prog- ress from the previous week's close. For the past three weeks the mar- ket has hovered around the resistance points, which must be broken through if a broad advance in stock prices is to take place. On numerous occasions since mid-November both the rails and industrials have tried to rise above these levels, but each time stocks rise beyond a certain point a wave of sell- ing speeds over the market and prices recede sharply. On the other hand, when stocks decline liquidation dries up quickly. But this is the kind of a market in which experienced traders take profits on rallies, preferring to get their next cue when the market breaks through resistance points in one direction or the other. Until the mar- ket finally gets out of its present rut it is impossible to tell whether the buying or the selling is the stronger. ‘When the change comes the market will move violently in the chosen di- rection. Steels Feature. With the market as a whole making little progress last week the strength of particular groups was all the more con- spicuous. Last week's features were the steels, metals and machinery and chemicals. Those industries are direct- 1y benefited by the present high rate of production, and earnings for the last part of 1928 will be good. The steel in- dustry has been operating at a high rate of activity, and as an added attrac- tion the prices of steel products have risen moderately. While metal and machinery profits are affected by con- ditions in the industry they serve, as a group they are finding good business NEW YORK ST LOUIS SAN FRANCISCO "ar PHILADELPHIA BOSTON CLEVELAND DETROIT CHICAGO BALTIMORE CINCINNATI PIPTSBURGH conditions beneficial. The same ap- plies to the chemicals, where a falling price level for chemical products has held back their progress until just recently. Although concerted group action was lacking, a few selected utilities and rails rose moderately during the week. The oils continued to decline slowly under the threat of overproduction, although some of the California oils which may be_benefited by increasing production REAL ESTATE LOANS 5%9 Homes, Apartments and Business Properties In District of Columbia and Nearby Maryland-Virginia 3-5-10-Year Terms light, market firm; Pennsylvania, 150~ pound sacks round whites, U. S. No. 1, | 225a2.35; New York, 150-pound sacks | round whites, U. S. No. 1, 2.35a2.50; | Michigan, 150-pound -sacks Russet Ru- | rals, U. S. No. 1, mostly around 2.40. °~| Spinach — Supplies liberal; demand | light, market steady; Texas, bushel | basket Savoy type 1.00al.15, mostly 1.15; Virginia, Norfolk section, bushel | baskets Savoy type, ordinary quality | and condition, 50a60. | ‘Tomatoes — Supplies moderate; de- mand light, market slightly weaker: repacked, 3s, ripes, wrapped, fancy count, 2.00a2.25; choice count, 1.50a 1.75: 6s, ripes, wrapped, fancy count, 4.00a4.25, few higher; original Baha- mas, 6s, ripes, wrapped, choice count, 2.00a2.50; Cuba, 6s, ripes and turning. wrapped, fancy count, best, 3.75a4.00; fair quality and condition, 3.00a3.25. Sales. High. Low. Close StL&SFprinbs. 16 1005 100k 1004 | StLS Wcon4dsi2. 14 96 San A& ArnP4s.. 2 SeabALref4s.... 6 SeabAL ad) 58 1949 132 Seab A L con 6s. ... 133 SBANIFla6s35A. 9 9la 690 | Sou Pac 43 29. 21 9 [ Sou Paceclt 4s..... Sou Pacific ref 4s.. Sou Pac 4 %srets. . Sou Ry gen 4 Sou Ry Con 5: Sou Ry 68 5 Sou Ry 6%s. Sou Ry Mo & O 4s. TexArk F'S 515 50. Tex & Pac 53 B 1977 Third Ave ref 4s 60. Third Ave adj 5 Tol St L& W 4 Unfon Pac 1st 4s... Union Pac 1st rf 4. Union Pacific 45 68, Unlon Pac 418 67. Virginia Ry 1sf Va Southwn col Wabash 1t 53 Western Md 5% W, . T 121% . 93 10214 10t 6414 Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 First Mortgage Loans Thomas J. Fisher & Company, Inc. WE WILL BUY G. L. MILLER COMPANY STOCKS & CERTIFICATES MEHLMAN & COMPANY ! Woodward Bldg. Main 8847 Main 317 Prompt Replies .Randall H. Hagner & Co. (Incorporated) Decatur 3600 1321 Connecticut Avenue Mortgage Loan Correspondent New York Life Insurance Co. FoRGED .. . but We Paid the Loss Although the Farm & Home Savings & Loan Association of Missouri_had never suffered through flaw in title, essential as fire insurance and required it with every loan. Two years ago a business man bbb e e Texas community, forged a deed on property belonging to someone else and was granted a mortgage loan by the build- ing l6an company. Our check for $44,823.82 saved the Missouri associati a serious loss. Whenever you lend on bond and mortgage, a New York Title policy is always your best policy. Capitol Title & Guarantee Company 1425 Eye St. NJW. Representing New York TITLE AND MORTGAGE CoMPANY Capital Funds over $60,000,000 FINANCIAL advanced. A few coppers rose sharply, but the group as a whole marked time. The tires made little further progress after their sharp advances of the previ- ous week. Call Money Erratic. The unexpected rise in call money to9 ger cent on Tuesday caused a sharp break in stocks, but they came back quickly when money dropped to 6 per cent. This event, however, served no- tice that the fluctuations of call rates are apt to be erratic in the future be- cause the banks are trying to reduce their indebtedness at the reserve banks, and when brokers’ loans are “called” by outside lenders, they are not inclined to fill in the gap as readily as when they had better control over the call 190 money market. A 6 per cent call money rate is high for this time of year and shows clearly that banks are having difficulty in reducing loans made to | them by the reserve banks to take care | of holiday requirements. Steels and Coppers. Curb stocks followed prices on the Stock Exchange closely, while prices on the local stock exchanges varied con- siderably,, The rise in the steel, metals and machinery stocks in New York was transmitted to Detroit, Baltimore and Pittsburgh, where stocks in these groups 150 advanced sharply. The strength in Calumet and Hecla in New York vitalized other smaller “Lake” coppers in Boston and stocks there advanced sympathetically. On the balance of the local markets price changes were of little significance. While it is yet too early to tell which way the stock market is going to turn, the spectacle of the old-line leader, U. 8. Steel, rising sharply on Thursday, Friday and Saturday, while most sec- tions of the list met a heavy wave of selling as stocks reached the old re- sistance points, is warning enough for some that margin trading should be cut to a minimum until the future is more WE WILL BUY §. H. SMITH COMPANY STOCKS & BONDS MEHLMAN & COMPANY 901 Main 8847 05 Woodward Bldg. — REAL ESTATE NOTES Secured by first deed of trust on District of Columbia residential and income-producing properties. = . This Will Mean SAFETY, MAXIMUM YIELD and MARKETABLE SECURITIES Consult Mr. Dean KEEVER :ndGOS -u.GO S'"‘" 1415 K St. Tel. Nat. 4750 clear-cut. (Copyright. 1929.) for LOANS on 1001 15th St. N.W. BO 1417 K Street ence. 6% per annum, Like insects, are the small extra expenditures that have destroyed S0 many savings plans. destroy these pests by setting aside a regular amount of our income first and investing it im- mediately in the First Mortgage notes issued through Swartzell, Rheem & Hensey Company. We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan and Trust Company 900 F Street 620 17th Street APPLICATIONS INVITED IMPROVED PROPERTY Located in the District of Columbia and adjacent suburbs in Montgomery and RBrince Georges Counties, Md. 5Y2% INTEREST Apply to H. L. RUST COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY OF AMERICA Main 8100 We Will Lend You Money On Improved Real Estate in Neaby Maryland, Virginia and the District of Columbia At the Lowest Possible Cost Interest 51/2% For Periods of 3,5 or 10 Years $SMPHE Realtors Founded 1907 LPS Main 9300 Loan Correspondent John Hancock Mutual Life Insurance Co. Exterminate These Pests! Insects rob us of two billion dol- lars each year in cro~s which they destroy. With a nibble here and a bite there no single insect does much damage by himself, but the number of his brothers more than makes up the differ- Let us Our notes are available in de- nominations as low as $100, and they pay interest at the rate of SWARTZELL, RHFEM & HENSEY CO MORTGAGE BANKERS 727 15 STREET N.W./ WA'HING’I‘Os D.C. "