Evening Star Newspaper, January 24, 1929, Page 14

14 *3 BANKERS 10 MEET AGAIN ATMONTAUK Potomac Joint Stock Bank‘ lects Officers—Great Speed in Contest. BY EDWARD C. STONE. It was announced at the open meet- | ing of the District Bankers' Association last night at the Willard that the next annual convention will be held at| Montauk Beach, L. L. at the Montauk | Manor Hotel. The association met there last year and the council of administra- tion felt that the ease of access, op-| portunity to obtain noted New York | speakers and Carl Fisher's offer of al- | most unlimited entertainment made it/ wise to go there again this year. The! conclave will take place on June 20, 21, 22 and | Last ht's meeting drew an ex- coptional attendance of local bankers who throughly enjoyed the brilliant ad- dress of Dr. H. Parker Willis, noted elsewhere in The Star’s financial sec- tion. The noted economist and editor lived here for several years and still counts himself as a partial Washing- tonjan. During the business session President Robert V. Fleming called for some im- portant reports and resolutions of re- gret and sympathy were adopted on the recent deaths of two association mem: d H. Bagley Am Can pf(7) AmCar&Fdy(6). Am C& F pf(7). 119% 119% Am Chicle (2).. Am Chic pr pf(7} 110% 110% Am Drug (60c). Am E Am & For Pow.. A Am&ForP pf(7) 106 Am Home Pr(3) Am LaFr&Foam FINANCIAL. Open. High. Low. Close. Abitibl Power... 51'x 51'a 48 48 Aoitibi Popf(6) 834 B4 83 84 Abrahm&Str 140 140 140 140 Ab&Straus pf 110% 110% 110% 110% Adams Expt§) 420 424 416 416 Adams Ex pf(5) 94 94 94 91 Adams Millis(2) 34 341 34 34% Adv Rumley.... 49'; 497 49 49 Adv Rumley pf. 60 60 Ahumada Lead 4 4 Alr Redetn (13). 108 109 Ajax Rubber 11 Ié‘. Albany Papr(2). Allfance Rity 13, Allied Chem..., 276 d Cm pf(7), 123 Allis-Chalm(7). 182% 185 Amerada(2).... 35% 3574 Am Agricul Chm 22} 22 Am AgriChpf.. 71 1 Am Bank N(13). 1 125 Am Bk N pf(3).. 60"z Am Beet Sugar. Am Beet Sug pf. 187% 591y 45% Am Br Sh(J1.60) 46's Am Brown Bov. 17 Am Brown Bo pt « 67 Am Can (14). 112% 113 141% 141% 1417 1417% 99% 9912 9913 991y 119% 119% 50 505 110% 110% 9% 97 8715 87k 804 8l 99 99 106 106 84 50% 50% 10 10 B8% 88% 82l 82 9 99 106 B5 83w 401 407 T(4). m&For P24 7. NEW YORK ST THE EVENING High. 991y 662 B 21% 10% 55% Low Close. 99% 65'a 5% 214 10% 544 10y 928 Open. 9% 6514 5% 21% 10% 554 10% 9215 ConsolGaspf (5) ConRRCuba pf 6 Consol Textile. . Container A 1.20 Container B 60c. Cont Baking A.. Cont Baking B.. Cont Bak pf8). Contl Can (2%). “ont Can pf(7) Cont Insur(6) Contl Mot (80¢). Corn Prod t3%.. Corn Prod pf(7). j Coty Inc (2).... Crown Zelrbek 1 Cruc:ble Sti(5). CubaCaneSugar. Cuba Company. . Cuban Am S(1). Cuban Dom Sug. Cudahy Pkz(4). Cudahy (rts). .. Curtiss Aero(1). Cutir-Ham(31%) Cuyamel Fruit.. Davison Chem. . Debenhms(2.91) Deere&Co pf(7). Del & Hud(9)... Del L & Wit7).. Den RG Wn pf.. Detroit Ed(8) Devoe A (13.20). Devoe&R 1st(7). Diamond M (8). Dome Mines(1) Drug Incc4) Dunhill Int ($4) Dunhill (rts)... Duplan § 2 Duplansilk pf 8. 5l 10% 55 63 124% 234% 5T7% 115% 161 9% 145 T4 T Tk F. P. H. Siddons reported fOr | am Locomot(8). 109% 110% 109% 110% v fiduciaries section, Charles E. Howe for the safe deposit and Ray- mond G. Marx for the auditors’ sec- tion. the advertising commitiee. C. H. Pope’s convention report was presented by W. J. Waller. W. W. Spaid was program committee chairman. Land Bank Has Annual Meeting. ‘The stockholders of the Potomac Joint Stock Land Bank at the annual meeting yesterday fixed the number of directors for the ensuing year at 15. The following directors were elected: John B. Cochran, Arthur Peter, John 1. Cassedy, Thomas P. Hickman, George A. Harris, all of Washington; F. C. Bedinger, Boydton, Va.; John P. Saul, Jjr., Salem, Va.; Shirley Carter, Win- chester, Va.: Vernor Gowin, Vienna, Va.; J. Murray Hooker, Stuart, Carroll Pierce, Alexandria, Va.; J. T. C. Hopkins, jr, Port Deposit, Md.; Thomas Summers, Frederick, Md.; gg.. and Joseph A. Wilmer, La Plata, At a meeting of the directors the fol- Toll, assistant secretary-treasurer. profits in excess of $550,000 and mort- gage loans in excess of $6,700,000. The semi-annual dividend of 3!z per cent Wwas paid January 1. In commenting on the farm loan system, President Harris stated that the system, as a whole, is in a favor- able condition, and that much con- structive work is being done to further improve and perfect it. He stated that agricultural conditions in Virginia and Maryland are stable and that there is ,an improved demand for good farms. ‘The building of good highways and sbridges, and the helpful attitude of the ;Government, State and Federal, have done much to encourage the farmers. Mr. Harris further stated that the fecent executive order of President Coolidge nicreasing the tariff on un- shelled peanuts from 4 to 6 cents per 'pound would be a great stimulant to the peanut growers of Southeast Vir- Young Bankers in Speed Contest. ‘The contest to determine the fastest adding machine operator in the local banks, held last night at the institute, was won by Henry O'Neil of the Central branch of the American Security & ‘Trust Co. L. F. Stanbaugh of the Se- curity Savings & Commercial Bank ‘was adjudged the second fastest speed king, and W. H. Laughlin, Washington mflu;e‘ & Trust Co. carried off third P The time was 2 minutes, and 43 sec. onds for the accurate listing of 150 checks. A separate contest was held for ‘women, in which Miss Anna V. Grain- inger, Lincoln National, captured first honors, while Mrs. Gladys Scott, Farm- ers'’ & Mechanics’ branch of Riggs, tests was intense. The judges, all armed with the per- fect stop watches, included I J. Rob- iJames C. Dulin, jr., American Securit; & Trust Co. . 7 Stocks Steady on Local Board. Stocks remained firm in rather quiet trading on the Washington Stock Ex- change today, with Washington Rail- way & Electric preferred, Capital Trac- tion and Columbia Sand & Gravel lead- ing in volume. Sand & Gravel preferred, which was 80 active and strong yesterday, opened at 96, dropped to 95 and closed at Capital Traction sales also reached 50 shares at 1067%. Potomac Electric Power 5, per cent preferred changed hands at 1081, and 108%. The only bank stock out was «American Security & Trust, 10 shares selling at 475. Railway & Electric preferred regis- tered 99%% in the largest sale of the day, 100 shares. Two shares later changed hands at 108%. Mergenthaler opened ;8‘104‘,4, sold at 1045 and closed at Federal-American Co. common came out at 55% and 50 shares of National Mortgage & Investment preferred moved at 5%. Bonds were overlooked. Heard in Financial Distriet. Hilleary G. Hoskinson, vice president of the Riggs National Bank, is in New York on a short business trip. C. H. Pope, vice president of the Munsey Trust Co,, is on a short business trip to New York ‘The Pennsylvania Railroad directors have declared the regular quarterly dividend of 87!, cents per share, pay- able February 28 to stock of record February 1. S. 8. Kresge Co. declared 50 per cent common steck dividend, and quarterly dividend of 40 cents on common, place ingstock on $1.\9 annual basis, against $1.20 previously. Record Electrical Trade. H Shipments of electrical equipment during November totaled $10,851,800, an increase of $789,607 over the same ,month of 1927, and constituted a new record since the war for one month's exports, according to Commerce Depart- ment. The value of electrical goods exported during first 11 months of 1928 totaled $100,474,387, a gain of $8,183,839 over the same period of 1927. Will Greet British Banker. NEW YORK, January 24 (4#).—A new head of the Federal Reserve Bank of New York, Gov. Harrison, will welcome Montagu Norman, long-time head of the Bank of England, when he arrives on the Aquitania. No unusual signifi- cance is attached to his coming as Gov. Norman visited this country about the same time in 1927, and is constantly in communication with Federal Reserve Bank officials. Gov. Harrison, as the associate of the late Gov. Strong, is Am Loco pf(7).. 117% 117 Am Ma & Fy(4). 178 Am Metals(3).. Am Metals pf(6) 124 Howard Moran made a brief report| Am Nat Gas for the protective committee, Francis|{am Elano pf. 7 411 G. Addison. jr.. for law and legislation | Am P & L (31 and Eliot H. Thomson on the work of { AmP&Lpt sta 5 AmPo&Lt p AmP&L pfA21;, Am Radiator(5) Am Ry Ex(6) Am Republics. Am Saf Raz(12). Am Seating(3). Am Shipbldg(8), 9 Am Ship & Com. Am Sm&Ref(4).. 1043 106 AmS & Rpf(7). 137 Am Snuff (12) Am Snuff pt(6). Am Stl Fdys(3). Am Stl Fy pf(7). 111% 111% Am Sugar. 90 92 Am Sugar Va.; | Am Sumatra(3). Am Tel & Tel(9) 207% 207i4 Am Tobacco(8).. 183% 183% Am Tobac B(8). Charles Edward Hilliard, Hagerstown, | Am TypeFo(8).. 145% 145% Am Type pf(7).. 108 AmWW&EI(el). Am Woolen. .... lowing officers were re-elected: George | Am Woolen pf.. A. Harris, president; John I. Cassedy, | Am Writ Pa 6 pt '\:ce president; Vernor Gowin, secre- | Am %}::;r J -treasurer, an iss Audre - - 4 s T B e A The recent financial statement of |Anchor Cap..... the bank shows capital, reserve and |Anchor pf (6%). 115 Andes Copr 75¢.. Archer Dan (4).. 104% 104% Armour Del pf 7. Armour I11(A) Armour 111(B).. Armour 111 p£(7) Arnold Con & Co Artloom pf(7).. AssoDryG(2%). Atchison(10)... 202 202 Atch T&SFerts 2 214 Atchison pf(5).. 103% 103% Atl Gulf & W1 Atl Gulf p2(3).. Atlantic Ref(1). AtlasPowder(4), 108%s 108% Atlas Pow pf(6). 105 A Ausun-Nich pf. . Auto Sales pf(3) 427 Autostrap A(3). Baldwin Loc(7). 238% 238% Bald Loco pf(7). 119 Balto & O(6).... 122 Balto & O pf(4). Bambgr pf(6%). 109% 109% Bang & Ar(3%). Barker Bros(2). Barnet Leather. Barnsdall A {2) Bayuk Cgrs«(2).. 111% 112 Bayuk 1st pf(7). 106 Beacon Oil. . B Beth Steel pf(7) 122% 122% Bloomingdal Bon Ami A4 Borden Milk(6). .1 Botany Mills (A} : gr!zg;Mf:FCn. got | British Empire. . the red ribbon. Rivalry in both con- | British Em; 2d.. Brockwy Mot(4) Brockway pf(7). 136% 136% Bklyn-Man(4).. erts of Riggs, T. Hunton Leith of Se-|BklynUnGas(5). 188}; 1897 curity Savings & Commercial and |Brunswick B(3) Brunswick Ter., Bucyrus(1)..... Bucyrusev(24) 46% 467% Bucyrus pf(7).. 114 Buft&Sus pf(4).. Burns Bros(B).. BurnsBros pf(7) 105 Bush Term(g2).. Bush Ter de(7).. Bush Ter pf(7).. Butte Cop & Zing Butte & Sup(2). Butterick Co. 95%, the day's sales totaling 50 shares. | Byer & Co. . Byers A M(rts).. By-Products(2). 119% 119% Calif Pack(4) Callahan Zinc 3% Calu & Ariz (6). 126% 126% Cal & Hecla(4).. Can Dry (14%). Can Pacific(10).. 250% 254% Canon Mills 2.80. 5 Case Threshg(6) 475 483 475 Cavanah Dobbs. . Celotex Co Cent Alloy(2).,. Century Rib M., Cerro de Pas(5). 104% 104% Certain-teed Pro 26 Certo (t4).vase Chandler-Clev. . Ches & Ohio(10) 216% 216% C&OCorpn(3).. 84 84 Chi & Alton Chi & Alton pf. Chi Great West.. Cni Gt West pf.. Chi Ml & StP.. Chi Mil & StP pt Chi & Nwn (4).. Chi Pneu T new. Chi Pneu Tl pf.. % Chi RI&Pac(6).. 134% 136% CR1&Ppt(6) Chickasha (3) Childs(2.40). Chile Cop (3% Chrysler(3)... City Ice & Fuel City St B 5% stk 101 117% 117% 178 178 68% 70 124 124 o7 @7 4113 941y Bty 10 178 1% 124 T1% 921, 814 101 7% 19815 1 134 134 94 3% . 3% 102% 104 137 137 204 204 112 112 68% 681 111 111% 90 913 ® 1087 1087 551 56 204 204% 3% 3% 137 204 112 % 204 112 69% 567 5 DuPont (11). Dupont (new) Du Pont debt6). Dug Lt 1st(5)... Kastman(18)... Eaton Axle (3).. isenlohr&Bro. . Eitingon(2%).. lec Auto L (4). slectric Boat. ElecPow&Lt(1). 1667 11T 9% nd-John(s). ... ng Pub S(m1). Eng Pu S pf(5). Equit Bldg(2).. ErieRR. Fairbanks(3)... FedLight(h1.40) Fed Light pf(6). Fed Mot T(80¢c). Fidelity-Phoenx Filenes Sons Co. First NatS(1%) Fisk Rubber.... Fisk R 1st pfev. Fleischman 3% g 100% 18% 102 9 77 101 18% 102 947 e 100t 101 18% 18% 102 102 9 20 19% 82 82 82 9% 8% T9 19% 18215 18215 182% 182% 145% 145% 107% 1074 4% 80 183% 183% 108 844 26% 53% 4215 424 . 41 41 105% 105% 126 54%% 54% 115 51% b51% 5% 24% 53% 105'2 105'% 123% 1241 54% 54% 115 115 50% 50% 104% 104% 934 93's 17% 9 86 367% 99 68 934 24 103% 10344 38% 384 49% 49% 59% 59% 108 108 105 105 7 40 42 45 2381 238l 119 119 120% 121 T84 T8% 109% 109% 68 68la 33% 33 26 26% 43 43 111% 112 106 106 23% 23% 41% 41% 94 94% 18% 13% 86% 874 83% 841 1224 122% 2% 424 85 85 193% 198% 13 13 56 384 38k 504 50% 61% 61% 105 T 40 42% 45% 45% n-Nichols.. 7 40 119 122% T8% T8% 68 681y 33% 33% 26 26% 44% 4% 13% 86% 85 863 5T% 5% 4% 4% T T 67% 69 55% 4% 4% Ta Th 67% 69 1% T8 51% 51% 41 41 38 38 46% 464 114 114 59 59 3% 33% 105 1(7)5 114 59 59 384 334 105 78 18 108 108% 116% 116% 8% 11 . 161% 161% 16% 15% 8 8 107% 107% 115 115 8% 8% 102 10% 33% 33% 160 160 15 15 118% 118% T5% 5% 33 3% 124% 124% 534 53% 5% 76 3% 541, 80 54% 80% 45% 45% 4 45 483 34% 35 34% 35 3% 69% T0% 46 44% 44% 524 50% b1% 20 20 20 103% 103% 26% 25% 84% 84w 20 20% 216% 216% 83% 13 19% 26 84% B4y 21 21 13% 19% 21% 53% 36% b8k 90% 33% 55 134% 135% 101 101% 46% 46% b54% b55% 89% 90 7% 117% 61 61 101 101% 46% 46% b4¥a 56% 91 91% 118% 119% 62 62 Ice pf(6%). 105% 105% 101% 105% 105% 100% 101% 5 5 68% 68% 16974 170 348 344 50% 50% 96% 96% 69% 691 149% 149% 61% " 61% 106% 106% City Stores(rts). Cluett-Peab(5). Coca-Cola(6) Cocoa Intnatl Collias & Alkmn, Col & Aik pf(7).. 96% Col Fuel & Iron. 71% Col Gas & E1(5). 160% 151 Col Gas&El new. 62% 62% Col G&E pfA(6) 107 107 Columbia Graph, 81% 82 Col Carbon t4%. 132 132 Com Cred(1).... 56% 61 Com Cristpf 6% 104% 105% ComCrpf(1%). 26 26 Com Inv Tr(34). 171% 172% Com Inv (war).. 484 49% Com InTrpf 6% 94% 95 Com Solvnts(8). 236 235 Com Power(t3). 124% 124% Conde Nast(2).. B7% 87% Congoleum-Nair 31% 32 121% 122% 8% 81% 31 3l% » | Gen Am Tnk(4). Folansbee (2)... Foundation Co. . Fox Film A(4).. Freeport T (4).. Gabriel'Snub A.. Gardner Motor. . 66k 66% 661 51 51 Bl 96% 95% 95% 5414 52% 53i4 26% 26% 26% 15% 9674 Gen Asphalt.... % Gen Asph pf(5). 117% 117% 1174 117% Gen Cable. 461 47 46 46% Gen Cabl . 9Tk 9Tk 9T% Gen Cable pf(7). 107 107 Gen Cigars(4).. 17 6814 GenCigars pf(7) Gen Eelectric t6. GenElec sp(60e) Gen G&EI A (12) Gen Gas pf B(7) Gen G & El A(8) Gen Ice Crm(4) Gen Mills (3)... Gen Mot (New). Gen Mot pf(7).. GenOutdrAd(2). Gen Outdr Ad(4) Gen Ry Sig(5).. Gen Refrac(s).. Gillette S R(c5). imbel Bros. 1% 11w 11% 88 88 88 109 109% 109 134 131 134 106 106 106 867 86 85% 8ok 8214 82 80% BOY 126% 125% 126% 125% 3214 321 3214 324 50% 50% 50% BO0% 95 954 95 95% 77 8 Ty 78 120 124120 124 46% 45% 45w 89 8T 8TW 41 40% 41 3 60% BBl 60% ) 9% 8% T9% . 9915 981 9814 1145 114% 114% 114% 129 129% 1274 127% 103% 103% 1027 108% 76 76 Tom To% % T3 694 69% 48% 484 4T 47H 90 90 88% 894 80 80 9% 9% Grand Unon.... 28 28% 28 28% Grand Unpf(3). 5% 53% bl% b53% Grant W T (1).. 119% 125% 119 123% Grt North pf(5). 108% 109 108% 108% Gt Nor pf cfs(5) 108% 108% 108 108 GtNoOrefs2%. 364 36% 34% 354 Gri WnSug2.80. 42 423 41G 423 Grt Wn Su pf(7) 117% 117% 117% 117 Greene Cana(6) 181% 181% 176% 176% Gult Mo&Nor.. 52 52 52 Guif Stat Sti(4). 72 72 72 Hacknsk W(1%) 26 26 26 26 Hack prA(1%). 26% 284 26% 28% 5l% 52 B0% 51 1% 88 109% 134 106 Goodrich(4) Goodrich pf (7 Goodyear Tire. Goodyr 1st pf(7) Gotham H (23). GothHo nv(23). Graham-Paige. . Granby (6). Grand F&W Hahn Dept Stor. Hahn DS pf6%. 112% 112% 111% 111% Hanna 1stpf.... 99% 99% 99 99% Har & Walkr(2) ' 54% b54% 54% 54% Hartmn B(1.20). 32% 33 32% 32W Havana EIRy... 8% 8% 84 84 HavEI Ry pf(6). 59% b59% 59% 594 Hershey Corp... 66 66 66 66 HockingVal(10) 440 440 440 Holnd Fur(fi&) . 46% 46% 46% Hollander & Sbn 19 19% 19 Homestake(7) 4% T4% Household(t4).. 77% 178 Howe Sound(4).. 70 . 70% Hud Man(2%).. 524 52 Hudson Mot(5). 84% 85 B Bl 7 L g 6% 17 140% 140% 140% 140% 7% T9% T9% 9% 2T 2T% 2T% 2T Ind O &Gas (2). 32 32 30% 3l% Indian Refining. 32 33% 31% 33% Indian Refgeffs 30% 3L 29 31 Indust Rayon... 132 132 125 125 Ingersoll-R(16). 129% 129% 129 129 Inland S(k16% ). 864 86l ¥5% Inspiration (3).. 46% 46% 46% InterboroRapTr. 56% 57 55 InterconRubbe: 2% 124 124 Internat Agri. .. 16% 16% Int AgCh pf(7). 85% 85% 854 864 Intl Bus Ma (5). 149% 149% 149% 149% IntCement(4).. 91 9215 91 921 Int Com Engi2). B8i% 84% 824 82% IntHarv (2%).. 984 105 97% 1024 Int Harvpf(7).. 145 145 145 145 Int Mtchpf3.20. 95% 95% 94 95 Int Mer Marine.. 6 6 6 6 Int Mer Marpf.. 38% 38% 38 38 IntNicklof Can 69% 70 67% 68% Int Nicklefpf6 113 118 118 118 Int Paper(2.40). 63% - 63% 63% 63% Int Paper pfu6). 94l 94ly 9% Int Pa&PoA2.40. 32 324, 324 IntPapr & PoB. 18% 18% 18% IntPapr&PoC. 125 12 Int Pa&Po pf(7) 924 92% Int Pap &Pwrts. 1l 1 Int Prig Ink 2%. 624 6204 Int Ry CA pf(5). 78% 8% Intl Salt(5).« 674 68% Int Silver. 135 136% 135 136l Int Tel & Tel(6). 220% 220% 215% 220 Interstate DS... 83 83 83 83 Island Creek(4). 55 56 54% 54% Jewel Tea (16).. 150 150 150 150 Johns-Manvi(3).. 225% 225% 220% 221% Johns-Man p£(7) 120 120 119 119 Jones & Lau(7). 121 121 120% 120% Jordan Motor.... 13% 13% 13% 13% KanCity South.. 93 93 93 93 Kan C So pf(4) 68% 68% Kayser J(5) 8% 8L Keith-Albee 40 40% Keit] 128 128 Kelly-Spring 2 21% 21% Kelly Tire 6%pf. 984 981 931 9Bl Kelly Tire8%pf 8 89 89 89 Kels Hayes(2).. 52% 53% b2% 53 Kelvinator Corp. 17 174 164 17 Kennecott (3)... 153% 156% 152% 162% Kinney (G R)... 53% 53% 62% 024 Kinney pr(8) 9T 9T 9TH 9T T0% 70% 68% Kraft-Pho(1%). 37 & 87 Kresge St(1.20). 90% B8% Kreuger& Toll.. 40 40 39% 398% Kroger Gro(el). 117% 117% 115 116% Lago Ofl. 30 30 28% 28% 131% 1328 131 131 Lambert (rts). 5% 6% 5% 6% Lee Tire & Rub. 23 28 22% 22% 440 46% 19% 4% % 69 2% T4% TT% 69 52% Hupp Mot (£2).. Illinols Cen(7). 111 Cen Iss li(4 Indian Mot (1). Conley Tinfoil.. 1% 1% 1% 1% 817 no stranger to the British official, hav- ing participated in conferences here gad abroag, PG e Cong Cgrs (5).. §2 831 81y Consol Cgrs (7). 93% 93% 93 Con Fllm pe(2).. 27 .27 Sonsol Gas (3),, 112 N B g 93 2734 Lehigh PC pf(7) 109% 109% 109% 109% LehighVal(3%). 97 97 96% 96% Lehn & Fink(3. 634 Lig Myers(t5) 96 Lig& MyrsB 5. 95% 95% 95 9915 6613 21w 10% 921y STAR. WASHINGTON, Loew's Inc (13). Loew's pf(6%). LOft.. o0 Long-Bell(A)... Loose-W(1.60).. Lor{llard Co. ... Loutlstana Oil. ... Louis GasA 1.75. Louisv G&E rts. Louis & Nash(7) Ludlum Stl(2).. McAndrews 2.85. Me Call Corp(4) McCrory A(2).. McCrory B(2) Mclntyre P(1).. McKeespt Tin Pl McKes&Ro 1.60. McKsn pf A 314 Mack Trucki(6). Macy Co (c2)... Mad Sq Gar 1%. Magma Cop (4). Mallison & Co. .. Mallison pf(7).. Mandel(2%) Man Elec Su Man El m2g(d5) Man Shirt(2). Maracaibo Oil. .. Market St prior. Marlan Oil....... Marlin-Roc t3% Marmon Mot(4). Marmon rts. Mathieson(6). May Dept S(4). Maytag (12) Maytag pfe3). M s 1St Ao Melville Sh 1.10. Mensel C . Mexican Seab. Miami Cop (2).. Mid-Continent. . Mid-Cont Perts. Middje States. .. ) Miller Rubber. .. Minn & St Louis Minu StPRSSM ., M St P&SSM pf., MStP&SSM 1i(4) Mo Kan & Tex.. Mo K&Tex pf(7) Missourt Pacific. MoPacific pf(5). Mohwk Car 2%, Montgom Ward. Moon Motor. . Mother L (40c). Motion Pic Corp. Motor Meter A.. Motor Prod(2).. Motor Whi (2)., Mullins pf (7) Murray Corp. Nash Motors(6). Nash & Chat(7). Nat Acme(sta).. Nat Bellas Hess NatBHess pf(7) Natl Riscuit(17) Nat Cash Reg t4 Nat Dairy (33). Nat Dept Stores. Nat Distillers. .. Nat Distillers pt Nat Enamlg (1). Nat Lead(6).... Nat Lead pfA(7) Nat Pow&Lt(1). Nat Radiator. Nat Ry Mex Nat Ry Mex 2d.. Nat Supply (18) . Nevada Cop (2). N O Tex&M (7). N Y Alr Br(3).. N Y Central(8).. N Y C&StL(6). N Y CStL pf(6). N Y Dock pf(5). N Y & Harim(5) NYNH&Hart(4) NY NH&H pf(7) N Y Ont&Westn N Y Railways pf NY Stm 1st pf 7. Norf & Wn(T10) NorAm bM %stk NorAm Ed pf(7) No Germn Lloyd Nortn Pac(5). Nor Pac cfs(5).. Northwn Tel(3). Norwalk Tire... 01l Well Supply. Orpheum pf(8).. Otis Elev pf(6).. Owens Bot (c4). Pac Coast 2d pf. Pacific Gas(2). . Pac Lightg (3).. Pacific Mills. ... Pac Oil Stubs. .. Pac Tel & Tel(7) Packard Mot(3). Pan-Am Petrolm Pan-Amer Pet B. Pan-Am Wn B Panhandle, Paramount-F-] Park & Ti1(13).. Park Utah(80c). Pathe EX....... Pathe Ex(A).... Patino M(2.92).. Peerless Motor. . Penick & Ford Penn Dixie Cm Penn R R(3% Pere Marq(18).. Pere M prior(5). Pet Milk (1%).. Phila& RC & I.. Phila Co pf(3).. Phil Morris(1).. Phil-Jones pf(7) Phillips P (1%) . Phoenix Hosiery Plerce-Arrow... Plerce-Arrow pf Pierce Oil. Pierce Oil p! . Pierce Petrolm. . Pilsbury (1.60) Pitts Coal. . Pitts Coal pf. Por RicoToA (7). Postum(3)..... Produ & Refinrs. Producers&R pf. Prophylactic t4. Pubic SerNJ (2). Pub Serv pf(6). Pub S NJ pf(7). Pullman Co(4).. Punta Aleg Sug. Pure O11 (1) Purity Bak( Radio Corp. Radio (new).... RadioCo pf(3%) Radio-Keith(A). RSCefs(4).. ReadingRy(4).. Reading 2d(2).. Real Silk Hos, Rels(R)& Co. Rels 1st pf(7) Remingtn1st(7). Remingtn-Rand. Reo Mot (11). Repl&S(4).... Rep 1& S pf(7). Reynolds Spngs. Rey Tob B 1614, Reynolds B new. Richfield O11(2), Rio Grande Oil. . Rossia Ins 163 . Royal Bak P(1). Royal Bakg P pf Royal D(a3.222). Rutland pf...... Safeway (3).... St Jos Leaa\13). StL & SanF'(18). StL&SanF pf(6) StL&Southwest. Savage Arms(2) Schulte (§3%).. Schulte pf(8)... Seab Alr Line, Seab Air L pf... S Shattuck FG(2). Shell T&Ta2.425. Shell Trad(rts). Shell Un(1.40). Shubert The(5). Simmons Co(3). -3z o 11 T oun(io, 06" aos 105 e Simmereicieo). ' 10 (., THURSDAY, JANUARY 24, 1928 OCK EXCHANG High. Low. Close. ! 6% 107% (76 14 107% 107 8214 421 % 105% 106 21 T2 51t 60 1061% 179 1001 23 13 88 61 2ot 100% 5% 105 90 105% 190 2815 207 116 18915 124% 12! Nat Tea(4)..... 102% 58 109% 1083 491y bl 29 108% 107% 104% Received by Private Wire Direct to The Star Office Open. High. 42 110 887 Low Close | 4015 404 110 Sinclair Oil Sinclair pft 110 So Por Rico(2).. PortoRicoTobB. South Calif Ed South Dairies A. Spaulding pf(7). Spang Chalfnt Spicer Mfg. . Spiegel Co (3).. Stand Com T(1). StdG& B (3%). Std Milling (6). Std Millg pf(6). Std Milling(rts) . Std O of Cal(13) StdQIINJI(T1%). StdO:INY(1.60). 51d Plate Glass. Std P Glass pf. . StdSanPro(1.68) Staniey Co 42 Stewart-War(6) 141% Stromberg (3).. 58 Studetaker(5). . Submarine Boat. Sun Ol (g1).. Sun Oil pr(6). 69% 51w 43 verior Stee Sweet of Am(1). Symington. ..... Symington Cl A. Tenn Copper(1). Texas Corpn(3). TexasGulfSul4) { Tex Fac C & Oll. Tex Ld Trinew) Thatcher Mfg. .. Thatchr pf 3.60.. The Fair(2.40), . Thomp J R(3.60) Tidewater AsOfl TidWASOIID(6) TidewatrO(80c) Tide W O1l pf(5) Timken R B(6). Tobac Prod (8). Tobac Prod A(7) + | Transcont Oil... Trico Prod(2'%) Truax Traer. ... Truscon Stl1.20. Twin CityRT (4) Twin City pf(7). Undwd-El F' (4) Un Bag & Paper. Union Carb(8) Un Ol Cal2). Union Oil (rts; Uanion Pac(10).. Un Facific pf(4) Union Tank(5).. Utd Biscuit 1.60. Utd Biscu pf(7). Utd Cigar St(1). Utd Dyewood. .. Utd Elec Coal. .. Utd Fruit(t53%) 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) U S Express. ... U S Hoffman(4). U S Alcohol (6). USIndAlcopf(7) U'S Leather. U S Leathr A U S Lea pr pf(7) S Realty(4) Rubber..... Kub 1st pf.. Smelt(3%).. Sm pf(3%). Steel(7).. U S Steel pf(7).. U S Tobacto(3). Uni Leaf Tob(3) Uni Pic 1st pf(8) Untv Pipe & Rad Utll 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).. Va-Caro Chem. . Va-CarCh 6% pf. Va-Car Ch pf(7) Vulean Detin. .. Vulcan Detin(A) Wabash........ Wabash pf A(5). Waldorf(1%)... Walgreen pf 6% Walworth(1.20) Ward C1A(8)... Ward Baking B.. Ward Bak pf(7). Warner Bros Pic Warner Bros pf. Warner-Qu(2).. Warrn Bros (15) Warren F&Pipe. Web & Hell..... Wesson Oil (4).. W Penn El pf(§) W Penn El pf(7) West P Po pf(7) West Dairy B... West Maryland. Wgst Pacific. ... West Pacific pf.. Weston Electric. West Union(8).. Westhse A B(2). Westinghse(4). Westhse El rt Westhse 1st(4). Wheel & L E u u u u u u 9 10915 31 T0% 88% 4 149% 2 112 22% 6374 106% 42% 35 58 22Y% 197 46 143% White Rock (3). White Sew Mach White SM pf(4). Wilcox Oi1 & G.. Willys Ov c1.20. Wilson & Co, WilsonCopf A.. Wilson & Co pf. Woolworth (6).. Worthn Pump. . Worth Pump(A) Worth Pump(B) Wright Aero(2). Wrigey ((13%). Yale&Towne(4). Yellow Truck... 38 384 37% Young Spring.. 58% 58% 56% 57 Youngstn Sh(5). 112% 113 112 1121 Hourly-Sales on N. Y. Market. 62% 62% 37% Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or half-yearly declarations. ¥ Partly exira. % in stock. § Plus lus, n st h Partly stock. 1 Plus 20 in us 1/120 share auarterly in stock, Payable 1/10 share quarterly in United Cigar Stores common stock. D Plus 1% % in stock. FRANCE FAVORS TUNNEL. English Offered Channel Building Co-operation. LONDON, January 24 (#).—French Ambassador M. A. de Fleriau told a Tube " | meeting to consider the proposed tunnel under the English Channel last night that he was authorized to say that France was ready whenever Britain was to make an agreement or arrangement for its construction and would co-oper- ate in the building. Plans Capital Increase. NEW YORK, January 24 (#).—The Southern New England Telephone Co. has proposed an increase in Capital to $100,000,000 from $40,000,000. Plan Luncheonettes. NEW YORK, January 24 (#).—The Schulte Retail Store Corporation and its subsidiary, Park & Tilford, Inc., have abandoned plans for a chain of retail grocery stores and instead are cons&iefl:g adding luncheonettes to its units. A 500-acre aerodrome is being con- structed at Palghut, South India, | these STOS SUBECTED TOREAVY SELLNG List Recovers Partially in Late Dealings After Forenoon Drop. . BY GEORGE T. HUGHES. Special Dispatch to The Star NEW YORK, January 24.—Sharply | reactionary in the forenoon, today’s stock market made a partial recovery in the afternoon. Even when the sell- ng was at its height there was no in- dication of an impending break. Prices declined, but there was always support at concessions and the market never got out of hand. Standing out spectacularly was Na- tional Cash Register and above 141 it was not only at a new peak, but more than 16 points higher on the day. The rails were htly lower, but inactive. Money held at 6 per cent throughout. I these ti Thursday is the day when the market meets its most severe It is on Thur e weekly statement of brol loans 'n out by the Federal K serve. 1t is on Thur: that the recfors of the New York Federal Re- e Bank meet and announce, also| afier the close of business, their action lack of it on the rediscount rate. It | is, .t ore, a day when the average | speculator leans to the side of caution. | » Few Stocks Hold Firm. 1 So there was realizing in the early trading. Stocks had scored some vio- lent advances yesterday and those for- tunate enough to have been long of ues hastened to take profits. Others were anxious to put their ac- counts into shape to withstand any storm. Nevertheless, there was no great concern exhibited. The market has rallied so often from these set- | backs that they h. = come to be looked upon as only temporary. < A few stocks stood out against the trend, for a time at least. American Telephone & Telegraph was actively bought in the first hour, making a new 1929 top. The explanation was the usual one of investment’ trust buying, but there was also talk about a distri- bution of Western Electric, improbabie 4s any such development may seem. Among the stocks that reacted most were International Telephone, down be- tween 5 and 6 points; Union Carbide & Carbon, Wright* Aeronautical, General Electric _and other recent favorites. United States Steel met persistent profit taking and below 184 was down more than 2 points on the day and more than 6 from its recent high. Columbia Graphophone broke- below 80. Motor Stocks. For a time the motors were strong. Studecbaker made a new top for the General Motors, old and new, were moderately higher. Nash was in de- mand. The motors had not participated in the advance of late and their tech- nical position was stronger. They can- day. When the buying was at its best, the report was spread that investment trusts were in the market for automo- bile stocks. It was also stated on the usual “high authority” that a promin- ent operator had been engaged to “run in the shorts” in the motors. Money renewed at 6 per cent and the tone was firm. Some raising of the rate is likely as the month end approaches. Time money was a shade easier. ADVANCE IN COPPER IS MARKET FEATURE Increased Demand for Metal and Low Stocks Cause Price Gains. BY J. C. ROYLE. Speclal Dispatch to The Star. ! NEW YORK, January 24.—Produc- tion of copper is proceeding at a pace that has only been exceeded under war- time requirements. Notwithstanding this, demand has been such that stocks have not grown to unwieldly propor- tions. In fact, they are so small that consumers are scouting already for future requirements. The advance and strength in copper prices has been one of the great busi- ness featuresef the new year so far and is today more than even. The reason for the strength of cop- per prices is not far to seek. Stocks are nearly 40 per cent lower than they were a year ago. There has come an increased demand from the agricultural implement manufacturers, from the au- tomobile industry, from the electrical appliance field, and from public utility companies, as well as from the hard- ware and building material lines. This demand has not even yet be- gun to exert its full strength. The programs of the copper consumers, out- lined for 1929, are of so ambitious a character that the demand promises to increase rather than diminish. The automobile companies are prepared to turn out a record number of vehicles. ‘The electrification plans of the rail- roads are expanding daily. The needs of the public utility companies will be spread over a period of years, not months. Along with this increase in demand is coming an increase in' production. This is established by statistics of the Department of Commerce showing that Arizona, one of the chief copper pro- ducing States, turned out 736,282,000 pounds of copper in the last year worth $107,497,000, as against 682,190,000 pounds valued at $89,366,000 in 1927. Mines and refineries are working close to capacity, but that capacity in the case of the refineries is so close to demand that immediate piling up of excess stocks seems improbable. . Expect Money Rate Gain. NEW YORK, January 24 (#).—Un- less the sudden resumption of gold im- ports from London reaches large pro- portions, Wall Street will not be sur- prised if money rates show a marked increase as the month end nears. The present call money rate of 6 per cent is regarded by bankers as ‘normal” un- der present conditions, although it is about double that of a year ago. The usual transfer of funds to the interior begins about this time as New York starts paying its bills, and as a conse- quence the supply of money for market operations is reduced. o Crude Oil Price Reduced. NEW YORK, January 24 (#)—The Carter Oil Co., subsidiary of Standard Oll Co. of New Jersey, has reduced the price of mid-continent crude oil 8 cents a barrel on lowest gravity oil and 32 cents on highest gravity. The new ranlge is $1.44 for high gravity to $1.08 on low, CHICAGO DAIRY MARKET. CHICAGO, January 24 (#).—Butter— Higher; receipts, 5048 tubs; creamery extras, 47; standards, 46'%; extra firsts, 4515246; firsts, 4412ad5; seconds, 43a44. Eggs—Unchanged; receipts, 6,695 cases. Poultry—Alive, steady; receipts, none; prices unchanged. Steel Rails Ordered. NEW YORK, January 24 (#).—The FINANCIAL. Over a Third (Y “l(ll" of a Century’s el Ezxperience _Westheimer & Company Are Not Tied Down —when you pla apartment hous: property and houses under our management. You're free to travel far and wide— knowing that every detail is being given careful and considerate attention — and that upon your return a complete statement will be rendered. Members of the New York Stock Exchange Baltimore Stock Exchange Cincinnat} Stock Exchange Chicago Board of Trade WOODWARD BUILDING Telephone Main 5500 Private Wires to All Important Points B. F. SAUL CO. Main 2100 925 15th St. present shares in the first hour and celed part of their gains later in the Chicago, Rock Island & Pacific Railway has ordered 10,700 tons of steel rails and fastening from the Colorado Fuel & Iron Co, Seasoned Service Back of the facilities at our cus- tomers® disposal is the cumulative cxperience of one hundred and fif- teen years of successful banking. {{Why not give your business the benefit of this seasoned service? TRAVELERS CHECKS National 3% s Metropolitan Bank 15th St., Cpposite U. S. Treasury. Compound Interest Paid on Savings Would you like to forget your car has tires? See our display of the wonderful new GOODYEAR DOUBLE EAGLE Tires and Tubes BEN HUNDLEY 3436 14th St. NW. Col. 6041 (At Newton) G. M.-P. MURPHY & CO. New York WASHINGTON Richmond New York Stock Exchange Washington Stock Exchange Richmond Stock Exchange New York Produce Exchange New York Curb Market Copy of our “Fortnightly Review” on Request 1508 H Stree’ Connecticut at K Main 9600. Private Wire and Teleshone to New York Exterminate These Pests! Insects rob us of two billion dol- lars each year in crors 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- ence. Like insects, are the small extra expenditures that have destroyed so many savings plans. Let us 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. Our notes are available in de- nominations as low as $100, and they pay interest at the rate of 6% per annum. SWARTZELL, RHEEM & HENSEY CO MORTGAGE BANKERS * 727 15 STREET N.W, WASHINGTON D.C. /