Evening Star Newspaper, January 23, 1929, Page 12

| td 12« FINANCIAL, STAR, WASHINGTON. D. €., WEDNESDAY, JANUARY g7 204 1929. UTILITIES RESUNE " ADVANCE ON CURB! Market Active as Buying Movement Spreads—Mine Issues Gain. BY WILLIAM F. HEFFERNAN. Bpecial Dispatch to The Star. ! . NEW YORK. January 23—Public utility issues again stood out strongly in the upward movement on the Curb | Exchange today. Speculative Wall Street was disposed | to credit rumors involving acquisition of control of various companies by the Jarger holding organizations, and the stocks involved in the gossip were bid up sharply. The shares of holding companies themselves were in urgent demand. Electric Bond & Share Securities, American & Foreign F ver. Electri Investors and United Light & Power class “A” were among the favor Others which went to their best in ed Consolidated Gas of Baltimore, American Light & Traction, United Gas Improvement and United Gas. While these issues were moving up- ward steadily, excited speculation wa: in progress in some of the mining is sues. 1 Noranda Mines reached its best, New Jersey Zinc was within a small fraction of its previous top, Kennecott Copper new moved forward sympathetically with the old shares on the Stock Ex- change and even the so-called penn: issues—Falcon Lead and San Toy Min ing—made new highs. The upward tendency of metal prices appeared to furnish the incentive for the demand. Folliowing the recent offering of rights to subscribe to additional stock, American Cyanamid class “B” was con- sidered attractive at the current price level. The gain of more than 5 points ‘Tuesday was extended almost 15 points before the demand subsided. Aluminum company issues were carried up sharp- ly and fresh tops were established in Zenith Radio, up more than 3 points, and U. S. Freight, up also 5. Aircraft issues continued active. Niles-Bement-Pond was carried almost 2 points above Tuesday’s final. Motor stocks were without feature. Ford Motor, Ltd., was actively dealt in at previously prevailing prices, while lF‘onli of Canada held around the 660 evel. WIDER MARGIN SECURITY. NEW_ YORK, January 23 (#).—De- mands by some brokers for wider mar- gins on security purchases at this time is hailed in Wall Street as a step toward strengthening rather than weakening the market structure. Most customers’ accounts are reported so well margined that customers do not begin to worry until stocks are down 25 points or more. The public, it is pointed out, is now a buyer on reactions, instead of @ seller on stop loss orders, as in past years. e AR N A Steel Scrap Increase. NEW YORK, January 23 (#).—Sale of round tonnage.of heavy melting scrap steel has been reported in the Chicago district at $16.50 a ton, an flfreuse of $1.50 over recent quota-| ns. COTTON GINNING REPORT. ‘The Census Bureau announced today that cotton of the 1928 crop ginned rior to January totaled 13891857 les, mcludm? 644,984 round bales counted as bales. Ginnings prior to January 16, last year, totaled 12,- 501,447, including 530,190 round bales. GERMAN BONDS AND STOCKS. Bpecial Dispatch to The Star. NEW YORK, January 23.— Bid. Asked. Ger Govt Red Loan with drawg ctfs attachea per 100 R M.. 55.00 60.00 Ger Govt Red Loan withoui R M r) en German Gen Berlin ds pre-war ... Hamburg 3s, 3125 & 43 Hamburg American Line North Gorman Lloyd 4'as. Krupp 5s 1921. i Dusseldort 4s pre Frankfort 2-M 4s D) Munich 4s pre-wa. ST uoted in_doliars AEG Elec.) AEG esea 3 233333338878 .50 per share.) (German Ge aras SLEN (German Ge E) pld B Commerz and Privat Bank... 1 G Farben...... Disconto Gellschaft. Berliner Handles . Dresdner Bank utsche Bank rmstaedter Ba fi&yden gheli\ Ve Srocs Bock Vieiina.l: Nonerien ARG (Gen Ei Crtrien i Rudolph Karstadt DIVIDENDS. - Hidrs. of Com) » Tod. Rate. anie any. _ riod. Rate. a Am & Fr or 2 = e wBl B8 poiiBeauESES S ol o iw Munsingwear . McKes & Robbins. T e Norf & West Ry LLLLELLLUL 75 Mar. 30 sl TREASURY CERTIFICATES. (Feported by J & W. Seligman & Co.) B saturit i FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) | Nominal sold Selling checks e (or par). London, pound. 548065 Faris, franc Brussels, Berlin, Rome, Zurieh, frane.. . drachma zloty Copenhagen, Oslo. crown’ % Stockholm, crown.... . SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Allis-Chalmers Co. Aluminum Co. Al Amer. Tel. & ana Corp. 525 1938 Ruwy, 4':s 1930 wy. 4155 1935 Rwy. 4125 1930 Island 45 1934 u. Ry or, & Ohio Chicz g0 Rock Colo:ado & 8 Gen. Mot Accep. Corp. 6s sieneral Pet. Corp. 55 1940. Goodyear T. & R. 55 195 oo Bit e Ol Shell Unton Oil Co. 5s 1947 . Sinclair Crude_Oil 5%us 1938 Soutrern Pac. R. R. Co. 45 1929 Standard OII N Jersey 55 1936 St L., Ir Mt & So. Ry. 45 1929 Swift' & Co. 5s 1932 ¢ Western Electric Co. 551944 Westinghouse E. & M. Bs 19 105 ng Steel Corp. 5! 10013 101% In a recent automobile parade in Lon- &n & car of 1893 took part. e NEW YORK CURB MARKET Received by Private Wire NEW YORK, January 23.—Following is a list of stocks and bonds traded in on the New York Curb Market today: INDUSTRIALS, High. Low. Nocn 15% 157 Sales in hundreds. 19 Acoustic Prod . A r Arch Co. Bev . Com "Atco’ v Cominoaw P. Ly P 7 Bullard Co ... 44 Burma Corp " 4 Butler Bros .. 31 Can Marconi 'W ..l 4 Cavanagh Dobb .l 347, 5 Cent St El con pid.. 10: 18C G Spr & Bump & 12 Stores Stocks 3 b Mfz 63 u; 3 Curtis Flvi 2 Daveka Inc ... 3 Davenport, Hos 13 Deere & Co .. 45 De For R C . 13 Dixon (J) “Crucibie. . 31 Douglas ‘Aircraft .... 21 7 Dubilier C & R 12 Durant Mot ......0 st States Pow B 1 Bond & S Sec Cor 1 nvest Tnc 7 Fabrics _Finish 2 Fageol M 2 Fairchild 6 Pansteel 20 3 131 Ford Mot Ltd GForhan Co A .lll! 7Foundation For 'A. 1 Fox Theaters A .. 1 Freshman Chas Co >Gen Bak ... 3 Gen Bronze . 3 8 Gen Elec Ltd reg .. 1Gen Pub Ser . 3: 12 M City St .. 3 5 Guardian F A 8 Haygart Corp 10 Hazeltine ~ Corp 7Helena R 29 Hiram Walk - "THires Ch A ........ 7 Huylers Strs of Del 5 Hygrade Food Prod. 5 Indust Fin etf . 61Ital Superp A 15 Ital Superp d 3 Karstadt R up rrowe Mill Lawrence Port 'Gem. R a0 ol 81 = 0 & 1Libb Owens Sh Gl.. 2187 2147 SLit Bros ... aehh T3 2 Manning Bowman ‘A e 101 Marconi Intl Mar.. 58 Mare Wire Lond B 1 g 67 D s0w 2913 T10143 1011 36 38 Hud W 2Mond Nickel rets.. 3 Municipal Serv 2 Bai at} 3 or Am_ Ut 44 Nortir "Easgtern " po 24 Nor Sta P A 24 North Sta P us I Select Ind Inc pfd.. 5 Sentry Safety Control 15%4 78 Serv El vt 1% Axle 32 3 Tishman Realty & € 51% 4Trans Am - 1301 © Transcon AlT Tisp 267 Direct to The Star Ofiice 515 o 4% SUES_AND FORMER STOCKS 1 Venezuelan Pet s ol n STANDARD OIL I Sales SUBSIDIsR! i units 200 Wnglo Am Ol 300 A A O non vic bos . QOhio: . 20§ O Ohio_pid 600 Vacuum Ofl . BONDS 55 A 53 5039, Sales in thousands. 16 Abit P 48, Seating 63 m Sol 6125 '36 ppal El Pow 5 '3 rk P & L 5¢ 22550 ! 00! T&S Fe tias Plyw . 0000 Georgia Pow 5 Guif Oil P 2 Hou Gulf G 6! 2 Ind Of orp ndall “51:8 3 Kop Coke 5 993, 21 Lehigh Pow 6s A 2026 105 5s '42 93 o 5 South Da Pr_6! 13Stand P & L 6s 3Sun M Rais 6'2s '42 77 28 '52 04 A '52 101 ‘30 . 997, i85 09% 7 West Pow 51 1113 6 Wheel Stl 4': 887y Sales in FOREIGN BONDS. o8 Gelsen Min 65 3 al Superpow 6s 28 Jugo 8 M Bk 7s '57 4 Lim; 58 o 12% a4 83t wa 80 89 120% 1202 8912 8312 8 88 wi—When ssued. n—New Ww—With warrants. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., January 23.—Po- tatoes—White, 100 pounds, 1.00a}.25; sweet potatoes, barrel, 1.50a3.25; yams, barrel, 2.25a3.5 bushel, 1.00al.75; beets, 100, 4.00a6.00; beans, bushel, 4.00 26.50; Brussels sprouts, quart, 15a25; cabbage, hamper, 2.00a2.50; carrots, 100, 4.00a6.00. Celery—Crate, 1.50a3.25; caulifiower, crate, 1.50a2.00; egg plants, crate, 5.00a 8.00; kale, barrel, 1.00a1.75; lettuce, hamper, 1.00a1.75; onions, 100 pounds, 1.50a4.50; oyster plants, 100, 6.00a10.00; parsnips, basket, 60a70; peas, crate, 5.50 26.00; peppers, crate, 4.00a6.00; spinach, bushel, 60a90; tomatoes, crate, 75a 2.75; turnips, basket, 40a50; savoy cab- bage, bushel, 1.00a1.25. Apples—Bushel, 75a2.00; eranberries, 2.00a3.50; tangerines, per half strap, 1.50a2.50; oranges, box, 2.50a4.00; strawberries, quart, 50a55. Hay and Grain Prices. Wheat—No. 2' red Winter, garlicky, spot, 1.3633; January delivery, 1.36%. 1.0712; No. 2 yellow spot, 1.12; cob corn, 5.25. 62; No. 2 white, domestic, spot, 59a60. Rye—Nearby, 1.10a1.20. Hay—Receipts none. While hay is arriving here in limited quantities only, it is more than ample for the demand, which is being supplied, mostly by truck, from nearby points, few carloads being received. There is not enough business passing to establish prices on 333 | the various kinds on merit at a range 2815 176% 1767 | 38% 39%; | 43% 483, ; 6034 Fo Sec 162" 617 617 or Sec 15t pf 9414 9414 941y Jaht of Del.. 1007 98 ° 98 L 28% n.. 22t 393, Sales in hundreds. 120 Am Con M & M Ltd. .10 Globe C........ .30 34 Cons M 30 Cons Ney Utah 90 Tonopah Ext . PR ini_Verde E 4Utah Apex . 59 Wendon Cop Sales INDEPENDENT OIL STOCKS. in hundreds 18 Am _Maracaibo 12 Barnsd _deb war 11 Carib Synd Co.. Synd (110 Pive’ Liné 0 Kans Corp, Oil & Land 40 Oil & Tand'n 2214 1 § ‘Texon 2 Tidal Osage O -4 i of 16.00a18.50 per ton of timothy or clover hay. Straw—No. 1 wheat, 11.00a12.00 per ton; No. 1 oat, 12.00a13.00 per ton. Dairy Market. Poultry, alive—Young turkeys, pound, 35a40; old, 25a30; Spring chickens, 33a 38; small and poor, 20; old hens, 208 30; Leghorns, 20a26; capons, 33a48; old roosters, 17a18; ducks, 20a30; geese, 18a26; guinea fowls, each, 40a80; pigeons, pair, 30. Poultry, dressed— Turkeys, young, pound, 30a40; old 25& 30; chickens, young,®30a35; old and mixed, 25a30; capons, 34ad42; old roost- ers, 18a20; ducks, 25a30; geese, 20a26. Eggs—Receipts, 1,528 cases; native and nearby firsts, free cases, 36; cur- rent receipts, 30a35. Butter—Good to fancy creamery, pound, 45a49; prints, 49a51; blocks, 48a50; ladles, 34a38; store packed, 28; process butter, 41a42. NET LOSS REDUCED. The preliminary statement of Vir- ginia Iron, Coal & Coke Co. for year ended December 31, 1928, shows net loss of $61,735 after taxes, interest, de- preciation and depletion, but subject to inventory and other annual adjust- ments. “This compares with net loss of $182.436 in 1927, Net profit for quarter ended Decem- ber 31, last, was $34,095, equivalent to $1.36 a share earned on 25,000 shares of 5 per cent preferred stock. This compares with net of $27,772 in preced- ing quarter and net profit of $9,636, or 38 cents » share, on preferred in final quarter of 1927, CAR LOADINGS GAIN. Loading of revenue freight for the week ended on January 12 totaled 914,- 187 cars, the car service division of the American Railway Association an- nounced y. Compared with the preceding week, which included the New Year holiday, this was an increase of 115446 cars, with increases being reported in the total loading of all commodities. U. 8. TREASURY RECEIPTS. Treasury receipts for January 21 T60.183.50; balagce, 813 avk 08T it ECONOMIC CHANGES half barrel, 9.00a10.00; grapefruit, box,} Corn—No. 2 export, January delivery, | Oats—No. 2 white, domestic, spot, 61a | WHEAT IS HIGHER IN OPENING SALES| i | Reports of Unfavorable Weather1 in West Cause Price Advances. By the Associated Press. CHICAGO, January 23.—Active buy-| ing of wheat and all around new high | price records for the season resulted to iday from unfavorable weather over domestic Winter wheat territory. Re- | ports of sub-zero temperatures with little snow protection in Nebraska and Kansas were given special attention Opening unchanged to 1> off, Chicago wheat sagged a litle more and then scored a decided general advance. Strength developed also in corn, oats nd provisions, with corn starting !4 to | % down and declining further, but then | showing gains Faced by lively purchasing and by | of offerings, the wheat market here advanced fast today after down- turns at the start. Initial weakness | was ascribed to nearly complete failure | of Liverpool wheat quotations to refiect | vesterday's advances this side of the | Atlantic. | Rapid broadening out of buying in | the Chicago market, however, soon sent | ix;lces upward, particular notice being | ken of word that wheat in Western | Kansas was frozen, and that, with low temperatures prevailing, the ground was bare in the Western main wheat belt. values were to the effect that in various places snowfalls had melted into sheets of ice which have sealed up the fields, preventing proper ventilation. The in- ference was drawn that this could not help but be injurious although the full measure of the damage might not be apparent for several weeks. i i 'COTTON PRICES DROP | IN EARLY TRADING Liquidation Shortly After Opening; Causes Slump of 17 | Points. By the Associated Press. NEW YORK, January 23.—The cot- ton market opened easy at a decline of 9 to 8 points. Right after the call prices slumped 17 to 23 points net lower un- der liquidation by old longs and active | selling promoted by somewhat larger | official ginning figures than expected. The report showed 13,891,857 bales | ginned prior to January 16, or about | 200,000 bales above some of the recent | private reports, the figures comparing | with 12,501,447 bales ginned to the same | date last year. The early selling forced the price of March and May off to 19.9: but there was more trade buying j below the 20-cent level, and after the first rush of selling subsided somewhat | prices steadied on covering. Private cables said there had been hedging-and liquidation in the Liverpool market, but that China was active in | the cloth market and that fair cloth ! salés were reported to South America | and the Near East. STUDIED AT PARLEY. Unemployment Conference Is Prob-‘ ing Various Factors in U. §. Industry. Money, banking and price changes ln! the United States in recent years are being analyzed by the committee on re- cent economic changes of the Presi-| dent’s unemployment conference, Which | will report’ this Spring its recommenda- | tions and conclusions on shifting eco- | nomic trends as found in the study. The committee, of which Herbert Hoover is chairman, is holding its ses- | sions at the Metropoiitan Club. In-| cluded in its membership are some of the foremost economic and financial figures in the countrys The survey of = recent economic changes in the United States is now | well advanced, the committee having | already studied recent changes in standards of living, consumption, indus- try, transportation, marketing, agricul- ture, labor and management. The fact- finding has been made possible by grants made to the conference by the Carnegie Corporation of New York and mal Laura Spelman Rockefeller Memo- rial. ‘What effect the changing economic currents have had on finance, banking methods, foreign markets and loans and allied subjects occupy the attention of the committee today. In addition to Chairman Hoover the members of the committee are Walter F. Brown, Renick W. Dunlap, William Green, Julius Klein, John Lawrence, | Max Mason, Adolph C. Miller, Lewis E. | Pierson, John J. Raskob, A. W. Shaw, Louis J. Taber, Daniel Willard, George | McFadden, Clarence M. Wooley, Owen D. Young and Edward Eyre Hunt, sec- retary. All the members were present with the exception of Mr. Hoover, who | is in Florida; Lawrence, Mason, Raskob | and Wooley. Dr. Edwin F. Gay and Dr. Wesley C. Mitchell, directors of research of the National Bureau of Economic Research, headed the survey for the bureau, which has had the co-operation of such or- ganizations as the ‘Social Science Re- search Council, the Bureau of Railway Economics, the Personnel Research Fed- eration, the Institute of Economics, the American Engineering Council and va- rious departments of the Government. | CHICAGO LIVE STOCK MARKET CHICAGO, January 23 (#) (United States Department of Agriculture).— Hogs—Receipts, 25,000 head; market opened 25a40 higher; later trade mostly 40a50 higher; top, 9.85; largely a 9.60a 9.75 market on desirable 160-300 pound weights; butchers, medium to choice, 250-300 pounds, 9.45a9.80; 200-250 pounds, 9.50a9.85; 160-200 pounds, 9.50a 9.85; 130-160 pounds, 8.85a9.80; pack- ing 'sows, 8.609.10; pigs, medium to | choice, 90-130 pounds, 7.50a9.00. Cattle—Receipts, 7,000 head; calves, | receipts, 2,000 head; steer and yearling trade strong to 25 higher; she stock steady to strong; killing quality im- proved; shipping demand broader, weighty steers showing most advance, top, 14.50; light vealers unevenly lower; slaughter ~classes, steers, good and choice, 1,300-1,500 pounds, 12.75a15.25; 1,100-1,300 pounds, 12.75a15.75; 950~ 1,100 pounds, 12.75a16.00; common and medium, 850 pounds up. 0a12.75; fed yearlings, good and ice, 750-950 pounds, 12.75a216.00. Heifers, good and choice, 850 pounds down, 11.50a13.50; common and medium, 8.50a11.50. Cows, good and choice, 8.0¢ a11.00: common and medium, 6.9028.00; low cutter and cutter, 5.75a6.90. Bulls, good and choice (beef), 9.50a11.50; cut- ter to medium, 7.7529.75. Vealers (milk- fed), good and choice, 13.50a17.50; medium, 13.00a13.50; cull and common, 8.00a13.00. Stocker and feeder steers, good and choice (all weights), 10.75a 12.00; common and medium, 8.50a10.75. Sheep—Receipts, 12,000 head; market fairly active, steady to 15¢ higher; bulk of fat lambs, 16.75a17.25; early top, 17.40; sheep, strong choice yearling wethers, 15.00; feeding lambs, 15.00a 15.65. Lambs, good and choice, 92 pounds down, 16.35a17.50; medium, 14.75a16.35; 1l and common, 10.75a 14.75. Ewes, medium to choice, 150 pounds down, 8.25a10.75; cull and com- mon, 4.00a8.75. Feeder lambs, good and choice, 14.40a15.85. Americans spent. 550000000 in Ger- mal L] prad v R e k. Other reports tending to hoist wheat |1 5 5 A ‘various | Start, in spite of the spectacular rise in | builders reached the reight of their | | not. | shown signs of on BY KENNETH S. VAN STRUM. NEW YORK, January 23 —Last year it cost railroads only 72 cents out of very dollar to operate, whereas the ar before it cosf 74 cents. As a Tesult of this greater efficiency the rail- roads earned more money in 1928, even | though the amount of traffic handled was smaller than in 1927 Railroad result year justified | the tremendous for new cuipment and improvements, which av- eraged three-quarters of a billion dol- lars between 1921 and 1928, of these expenditures it is now pos to move the average freight car 30.3 miles per day, compared with 22.4 miles before the great improvement programs were carried through. The savings in speed, the greater car capacities, the savings in fuel, and many other econ- omies have had a tremendous influence in_giving the public the most efficient railroad service ever known. Injustice. But all during the year that the public enjoying the Increased rail- road efficiency the railroad car and locomotive builders, who were so large- ly responsible for the increased ef- ficiency of the railroads, went through the poorest year in a quarter cen- tury. Railroad equipment stocks actual- | closed the year lower than at the the general stock market. The obvious explanation is that the improvement. programs had been com- pleted. Railroad r and locomotive [T T TR IO T | 250 BALDWIN I |I ||||II|II| (lh [ ! PRESSED STEEL CAR AMER CAR & FDY " AMER Loco prosperity in the midst of the railroad rebuilding era, about 1923. Today, un- less their sales are to be confined to replacing worn-out equipment, it is up to the equipment makers to convince the railroads that present-day equip- ment will pay for itself because of its economy. Locomotives. Th€ three largest builders of loco- motives are American, Baldwin and Lima. They sold so many locomotives during the rehabilitation period that their business has declined sharply dur- ing the last few years. Because of valuable real estate hold- ings in the business section of Phila- | delphia, estimated to be worth $150 a a common share, Baldwin offers specu- lative possibilities that the others do In the last six years it has av- eraged $10.97 a share, including real estate operations, and it pax 7 «divi- dends. American Locomotive is ™ an exceptionally strong financial position, and its business is so well diversified that many believe that it offers good investment possibilities. Average earn- ings for past six years have been $6.52, and it has paid $8 in dividends, part coming out of reserves. Lima, while smaller than either of the two other companies, should also share in any increased business that comes to the gocomotive builders. It has aver- aged $3.59 a share and has paid $¢ in dividends It is doubtful if locomotive builders will show profits for 1928, but they | enter the new year under somewhat better conditions. During the past few years new orders for locomotives av- eraged 97 a month, and in the last three months new orders jumped from 3 in October to 59 in December; un- filled orders averaged 600, and they rose from 170 in October to 282 in December. Railroad Cars. Freight car manufacturers also have | | a similar type. | mon carrier traffic undoubte { this time on, according to expert trans- EXPANSION OF BUS LINES IS FORECAST Railroad and Railway Lines Are Expected to Increase De- velopment. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, January 23.—Expansion of the steam railroads into the motor bus field undoubtedly will increase rapidly from this time on. This is in- dicated plainly by the announcement of the Pennsylvania Railroad that it eventually proposes complete co-ordina- tion of bus and rail service in territgry served by its lines. The Pennsylvania road has started off with the acquisition of three bus lines running from New York to Wash: ington and from Philadelphia to At- lantic City and westward in Pennsyl- venia. But it will be a long time before the steam roads catch up with the strides made by electric rallroads in that direction. Operation of busses by steam roads, even on through tickets, is no new thing. At present 67 roads are oper- ating about 1,000 busses. Ten thousand busses, on the other hand, are operated by 375 electric roads. Independent op- erators number 6,750 and they run 25,000 busses, or 3.8 busses to each indi- vidual operating company. That makes about 38,000 busses not in operation as common carriers. In addition there are some 56,000 busses operated for the benefit of school children. These are not, however, in the common carrier class. Neither are the 7,000 busses operated by hotels, real estate promoters and other lines of The 36,000 busses engaged in com-/ y will in-} crease in number during this year. The railroads will do their bit in the ex- pansion and the street railways will account for a still greater growth. From portation men, the paths of the two | classes of carriers will diverge. The steam railroads are inclined to leave city routes and suburban feeders to the electric railway companies. The latter in turn are seemingly not anxious to invade the interurban field with bus, lines, preferring to leave the develop- ment of this traffic to the steam car- riers. The street railways will continue to urge the purchase of opposition bus | lines and taxicab companies. The development of the bus lines by steam roads will be confined at the start to the two extremes of territory. It will | grow fastest perhaps in the heavily populated _ industrial and suburban | regions. It is also due for startling | developments in the almost uninhabited | regions, where sceni¢ attractions are drawing more and more tourists eachi year. s is going to mean a decided in-| crease in productions of busses by the | manufacturing companies. The esti- mates made for the first half of 1929 indicate an outturn of 2,700,000 pas- senger vehicles and 300,000 trucks, as | compared with 2,074.000 and 252 650.1 respectivel in the corresponding period " of 1928. | Plan Increase in Capital. NEW YORK, January 23 (#).—Stock: holders of the Anaconda Copper Mining Co. have been called to a special meet- ing on March 14 to vote on doubling the capitalization to $600,000,000, di- vided into 12,000,000 shares of $50 par. The company also announced minor- ity Chile Copper Co. stockholders had | been offered a plan for exchange of their holdings into Anaconda stock on | a basis of 73 Anaconda shares for 100 Chile shares. Anaconda already holds | a majority interest in Chile Copper. Un- | | issued Anaconda stock will be used. Chile has 4,415,497 shares outstanding. New Stock Offer. NEW YORK, January 28 (#. Noranda Mings, Ltd., Toronto, Canada, | will offer to’stockholders the right to | subscribe to more than 72,000 shares of additional stock at $45 a share in ratio of 1 share for every 30 held. Proceeds will be used ito retire $2,450,000 7 per ient, bonds and for expansion expendi- ures. (OMPLEXION BEAUTY depends on thorough but gentle skin cleansing. The safe soap to use is Resinol suffered from depression. American Car & Foundry, largest freight car manufacturer, owns substantial interest in American Locomotive and has ex-| panded into motor trucks, motor boats | and other flelds. Its strong flnancml‘\ position and income from outside in-| vestments have helped to pay $6 in| dividends during the past seven years, when earnings averaged $5.93. | Pressed Steel Car is another large | builder of railroad cars. It is generally | considered more speculative, since its | business is not so well diversified and it pays no dividend. Relative to price, | | | it fluctuates over a wider range than any of the other stocks. Orders for freight cars have recently fmprovement. Over @ | period of years new orders average 6,480 freight cars monthly, ~while during 1928 they averaged about 3,086, although by December they had_in-| creased to 4,668. There were unfilled | orders for 14,000 cars in November. compared with an average of 29,000 uring recent years. g Wh%le many locomotive and freight car builders receive large income from outside investments, making their se- curities more stable, the fortunes of all depend to a large extent upon | volume of equipment buying. It is necessary to follow current orders | being placed by railroads in order to tell how fast these companies are com- ing out of their depression. (Copyright, 1920.) U. S. AUTO PRODUCTION BREAKS RECORD IN 1928 By the Associated Press. A new high production record was set by American automobile makers during 1928. The total output of machines for the year was reported yesterday by the Commerce Dcpartment to be 4,357,384. This was 50,000 machines greater than the previous record output reached in 1926, when 4,301,134 machines were turned out. The 1927 year's total, due largely to the shutdown of the Ford plant, was but 3,401,326. Of the 1928 production, 3,826,613 machines were classed As passenger cars and 530,771 were trucks. The Ca- nadian output for 1928 was also a rec-| ord, and amounted to 242,382 cars, | against the previous high record of 204,727 in 1926 and the 1927 output of 178,427, The December x‘nnnlhly production of automobiles in this country, which en- abled the 1928 figure to be calculated, was 233,135 cars. This was a compara- tively small monthly total and was ex- ceeded by every previous month in the year except January. The highest monthly output of the year, which also was the largest {or any like period, was reached when 461,298 cars were turned out. The figures were furnished by 152 manufacturers, NEW C. & 0. BOND ISSUE. ‘The Chesapeake & Ohio Railway re- ceived authority today fom the Inter- state Commerce Commission to issue $24,784,000 in 4!5 per cent gold bonds. ‘The securities will reimburse the road’s treasury for money already expended ! and betterments to its ling, It’s Growing! The shoulder-length bob is tak- | ing a real place among fashions of | the hour for the younger set. In' many high schools and colleges, | more than half the girls are let- ting their hair grow to the new length. This style as worn by New York City girls is shown in the above photograph of Miss, Edna Rabbe, 1925 Avenue G,| Brokklyn. | Miss Rabbe says: “I am cer- tainly delighted that I let my hair grow to the new length now that I| have found a way to keep it easily manageable and attractive. My hair is ever so much fluffier and | more vigorous than it has been for | a long time. And it is free from all traces of dandruff, now. I at-| tribute its improvement to the| method I am using to care for it. It’s so popular among the girls in my set. All we do is put a little | Danderine on our brushes when- | ever we usé them. This makes my | hair so easy to.dress any way I’ want it and holds it in place as I arrange it. Danderine soothes my scalp and keeps it and my hair so clean, I don't need to shampoo more than twice a month, now.| And all my friends admire the way ! it makes my hair so bright and | sparkling.” | Danderine does more to bring out the natural color, the gleam and lustre of your hair, than shampoos or brilliantine. It re- moves that oily film “rom it, givesl it new life and lustre. It cleanses and invigorates the scalp; helps overecome dandruff. Danderine is delightfully fragranced; isn't oily, doesn’t show. All drug stores have the generous 35¢ bottles. The Singer Conserves His Breath— —that each note in a melody may have proper sustenance—blend periectly with the sueceed- ing tones and lead.nn to a brilliant clim: Brilliant climaxes require careful planning, To plan your life carefully so that it may have a brilliant climax conserve your body’s resources, Begin with jyour eyes! Conserve your sigh frequently have an \ Etz Eye Examination In the building of healthy bodies correct vision is the first essential, See Etz and See Better' NOPTOMETRIST] 1217 G Streets ] Nearing the End! For the present bad weather and for balmy Spring days, when they come, you'll need— FIORSHEIM SHOES But only a few days longer in which to buy them at the Semi-annual Sale Price. 1§83 A few styles $9.85 Man’s Shop 14th at G Tth & K 3212 14th Quick relief for COLDS 3 since 1889 The voice without a cold Let Daisy tell you: it’s the voice without a cold that is the voice with a smile. And this is how she avoids the sniffles, fever, and illness which make others ’phone that they won’t be down to work. Right after every exposure, if she feels shivery, or has wet her feet, or gets that warning tickle in her throat or nose, she takes GROVE'S BROMO QUININE. She doesn't wait; not Daisy. She has learned to carry the handy white box in her ~rse for just such emergencies—and for headaches, too. So she nips the cold while it merely threatens,and avoids grip and flu and other serious ills which often begin with a cold. X Remember, there is only one BROMO QUININE. So it is a wise precaution to emphasize GROVE'S, when asking for GROVE'S BROMO QUININE. Price 30c,