Evening Star Newspaper, January 26, 1929, Page 14

14 ANCIAL. TE BANK EXPERTS FIND TRADE HOLDING P Outlook for First Half Year .« Also Declared Bright on %1 Latest Forecast. Abitibi Power... A Adams Millis(2) Adv Rumley. ... Ahumada Lead. 49 Ajax Rubber.... Alaska Junea Al 10 Allis-Chalm(7) Allis-Chalm rts. Amerada(2).... Am Agricul Chm Am Agri Ch pf.. Am Bank N(13). Am Beet Sugar. Am Bosch...... Am Br Sh(J1.60) Am Brown Bov. Am Brown Bo pf Am Can (14). AmCar&Fdy(6) Am Chain pf(7), Am Chicle (2).. Am Chic pr pf(7) Am Drug (60c). Am Encau T(4). Am & For Pow. . Am Hide & L pf. Am Home Pr(3) Am Ice (12%).. Am Internati(2) Am Internat(n). Am LaFr&Foam Am Locomot(8). Am Loco pf(7).. Am Ma & Fy(4). Am Metals(3) r BY EDWARD C. STONE. ‘Trade in general thus far in 1929 is continuing to hold up to expectations. | High rates of production are being | maintained in steel, automobiles and | various other lines, and the outlook for the first half is promising, says the Union Trust Co,, Cleveland “The credit si wation still pre- sents an element of uncertainty says the bank. “Brokers’ loans have increased over $2,000,000.000 in a year and nearly doubled in two years. ‘The sub- stance of the cred- 1t situation is that increases in brok- Am Fiano pf. ers’ loans do not George A. Harris. AmP&L (11).. in themselves provide cause for alarm.| AmP&L pfA21;, ‘They become an eclement of danger | AMP&Lpf sta 5. only when their rate of increase be-| AmPo&Lt pf(6): comes disproportionate to the general | Am Radiator(5) 203 increase in cap thus tending to|Am Rad pf(7)... 150 overbalance the cfedit structure. Such [Am Ry Ex(6)... 139 condition, while perhaps threatening at | Am Republics. .. 57 the present time, does not appear to|Am Saf Raz(ro) 7L exist now. | Am Seating(3).. 34 “In spite of the diversion of large | Am Ship & Com. 4 amounts of credit into brokers' loans | Am Shipbldg(8). 91 last Fall. new capital flotations do not | Am Sm&Ref(4). 113 appear to have suffered thereby. AmS & Rpf(7), fact, the trend has been definitely up- | Am Snuff (12) ward since August. ‘They increased | Am Stl Fdys(3), from $266,787.000 in August to $960,- | Am Sugar...... 022,014 in November. Am Sugar pf(7). “It is well to bear in mind that new | Am Sumatra(3). capital is steadily being created in this | Am Tel & Tel(9) country at a surprisingly rapid rate. | Am Tobacco(8). ‘This is illustrated by the fact that sav- | Am Tobac B(8). ings deposits of banks and trust com- | Am TypeFo(8).. panies in the United States gained | AmWW&El(el). $2,327,059,000 during the last year.| AmWWist pf(6) Looking back a number of years, we |Am Woolen. find that the per capita increase in sav- | Am Woolen p ings deposits has amounted to 113.5| Am Writ Pa 6 pt per cent since 1918 and 169.3 per cent | Am Zine.. since 1912. Am Zinc pf. 1 “The continuing heavy demand for | Anaconda C (6). dron and steel is an encouraging evi- | Anchor Cap..... dence in the direction of good business | Andes Copr 75¢. in 1929. Buying has been especially | Archer Dan (4).. active for automobile, ship building and | Armour 111(A) railroad companies,” the summary con- | Armour IlI(B).. cludes. Armour 111 pf(7) Harris Organized Local Bank. ArnoldiCon & Co George A, Harris, who has just been | ATtloom 2y " re-clected president of the” Potomac | agsoDryG(zi) Joint Stock Land Bank in this city, Was | 5550 0i1(2). ..., the leading figure in organizing the | Aichison(10)... bank several years ago. Atch T&S Fe rts He has been connected with the Fed- | ochison pr(s) eral farm loan system since 1917, hav- | g¢jantic Ref(1). ing actively assisted in the formative | 4 1an jrer pECT) period of the Federal Land Bank of | 5ijaspowder(4). Baitimore. For six years he was treas- | Austin-Nichols. urer and a director of that institution, | Ayte Sales. ... .. ;?a ):g{;;o i\m Tesignation there came to | Auto Sales pf(s) as % t o Mr. Harris has been active in the as- | 4V105Tap A(3) sociation of joint stock land bank pres- | Bald Loco pf(7). idents and other officials. He is a|Bulto& O(6).. regular attendant at the annual con-|Balto& O pf(4). ventions of the Virginia Bankers' As- ( Bank of Com 120 sociation and also keeps in close touch | Barker Bros(2). with many bankers in Maryland. Betou . Barnsdall A <2). Pay Roll Increased Over $23,000. | Beacon Oil At the close of the year there were 41 114 55 110 In 7 94 212 181 103 199 2 103! 59 116 108 120 900 33 24 geecn.l\'ut 3,003 employes in the service of the|Belding-Hemwy washingmpn yRI“wly & Electric Co's SGEKlNhR PE(16). system of whom 1.358 were in the B?»h e' an‘; Slleel employ of the Potomac Electric Power Bo‘:fl: n‘zAa“ Co. The total pay roll for the system Bnolhlglgn(. 4 for 1928 was $4,983,970.20, an increase Borden Mllk‘; ;):. n;rcr fré;t of the previous year of Botany Mills (4" $23.671.63. 2 Of the total employes in the service g::fig; gfxfl’l‘f"- of the entire system, 2,160 are mem- Bl‘llllhEmD 2a bers of the Washington Railway Relief Broekwy. M?av.u‘) o Association. This organization, in con- Bklyn-Man(4) junction with the company, has con- BAlynUnGas(5), tinued the group life insurance of its Brunsyick m“- members. The insurance varies in|p,, . oimer amounts from $500 to $1,500, the lat- Bucyrus(1). ... ter being available for those Who have | pyoyrys'oy u*') been members of the relief association | pum'g Susq. .., for five years or more. Buff&Sus ¥ This plan has now been In effect al- | Buroc by 425 most eight years, and during the pe- | Burns Bros(B).. riod 87 payments, aggregating $106,- | Bush Term(gz), 911, have been made to the beneficiaries | Bush Ter de(7). . of those who have died. Bush Ter pf(7). Week’s Business Ahead of 1928. gulu Cop & ZMo The volume of money turnover dur- B,':::::ci"g;“' ing the week ended January 19, as re- | Byer & Co. 3 flected by check payments, was smaller | Byerg A M (rts) than in the preceding week, but showed By-Products(2 )' a substantial gain over the correspond- | 4 ing period of 1928, according to the | Calif Pack(4)... weekly statement of the Department of | Callahan Zine. .. Commeroe. Calu & Ariz (6). 197 13 was fractionally higher than in- the | Can Dry (t43). the corresponding period of a year ego. | C4r CI&O sta(5). 10 Copper prices, though showing no ma- | Cavanah Dobbs. 4 Alr Redctn (13). 111'z 11 oY 101% 101'% 10815 1 182% 1824 145'% 1451 3% 83N . 23% 51% 42 - 120% 121% 8% T8l 25% 25% 42 425 94k 120 833 84y 4% 47% 8419 9% 127% 129 5% 5% 34 3 125 The general level of wholesale prices | Cal & Hecla(4),. 53% 53% T9% 79% previous week, showing a gain also over | Can Pacific(10). 249% 250% EVENING TAR, WASHINGTON, D. C SATURDAY, Received by Private Wire Direct to The Star Office. 437, 141 34% 48 438% 34% ) 491y 4 45 10% 111 113 0z 100 104 191y 47 19% 66% 1147 X 999 4 4 % 55 5% e 110'2 1102 1101y . 9% 9% 9y 86 86 8l 81y p 1% 11013 111 1y a1 183 183 701 71 a1y 41% 6% ' K] 81% § 811 101% 10115 Y 203 203% 20. 150 140 57% Tl 341 4 % % 911y 114% Y 7% A TN 9 18215 181 145'% 1151 8214 8214 1 103 103 23 te 18115 0 1% 199 2 4 1034 59% 116 109% 107! 109% TV 24 415 44% d44h ! 120 120 .120 120% 121% 78 73 900 33 25% 42 900 83 33 (254 ) 234 234 944 94% 124 124 83% 83w 81 84l 41 4% 8415 84k 9% 9y 24 94y 124 83% % 84T 845 9% 12 198 3 1075 1073 115 115% 8% 8 10% 10% 35% 357 160 160 W 154 15% 1274 128% 5% 5% b 3 3y 124% 124% 53 53 9% 79% 24715 249% 31 125 101 % 347 . terial change from the previous week, | Celotex Co (3)... 724 73% 45" ‘were 20 per cent higher than last year, | Cen Aguirre(2). o TIron and steel prices showed no change | Cent Alloy«2).. s 3 46% 50% from hte previous week, but were higher | Cerro de Pas(5). 104% 104% than a year ago, while prices for cot- | Certain-teed Pro 25% 25% = - | Certo (14) g(?d An\eraged higher than in either pe Chandler- Loans and discounts of Federal Re- |Ches & Ohio(10) 215 serve member banks showed a further | C& O Corpn(3).. 83 contraction from the previous week, but | Cbi & Alton..... were larger than a year ago. Interest | Shi& Alton pt rates on both time and call money av- Cgl g“‘:,' West, eraged higher than in either the pre- | i1 Gt West pf.. vious week or the same weck of last | Chi Al &StE. year. Prices for stocks were higher | Gni & St 4“ than in the preceding week. Bond | Spi < Nwn (4).. prices, reflecting higher nterest rates, | Citf P T new. were lower than in either the preced- | Gt T84T BE- ing weck or the same period a year CRA{& 3ot 6’)“ 0. Cmckaahap(fl() . Straus Starts Investment Trust, Childs(2.40)...., 8. W. Straus & Co. announce the | Chile Cop (3%3). formation of an investment trust to be | Chrysier(3) own as the S. W. Straus Investing | City Ice & Fuel.. 61 orporation, with a capitalization of | City St B 5% stk 100 $10,000,000, consisting of 200,000 shares | City Stores(rts). 5 6 per cent cumulative preferred, par |Cluett-Peab(5). 68 value $50, and 300,000 shares no par | Coca-Cola(6)... 170 common. _Public offering of 100,000 | Coliias & Aikmn 54 unit certificates will be made today, the | Col Fuel & Iron. 71 units representing one share preferred | Co! Sou 1st(4).. 79 and one-half share common, at $52, | Col Sou2d pf(4) 69| I'hec offering is made by S. W. Straus x Co. 101 89 Col Gas & E1(5). 150 Col Gas&ElLnew. 61 Col G&E prA(6) 106 Columbia Graph 75 Col Carbon t4%. 13 Com Cred(1). 55 Com Credit(rts). 4 Jom Cristpf 6% 104 Com Inv Tr (). Com lnv (war).. Com In Tr p£(7). 104 Com Solvnts(8). 2 Com Power(13). 123 Conde Nast(2).. Congoleum-Nair Cong Cgrs (5).. Consol Cgrs (7). Con ¥ilm pt(2). Weekly Bank Clearings Reported. Bank clearings in Washington for the week ending January 24 amounted to $28,835,000, compared with $30,540,000 in the previous week. Clearings, how- ever, were 17 per cent above the corre- sponding week in 1928, Bank clearings in United States for week ended January 24, as reported to Bradstreet’s, aggregated $13,740,096,000, against $14,408,238,000 last week and $10,499,688,000 in this week last year. ‘This week’s total shows a decrease of 4.6 per cent from last week, but a gain of 30.8 per cent over the like week a year ago. Clearings in Baltimore were $97,73 000, against $102,615.000 in the pre ous week, and a decline of 19 per cent over the same week last year. Richmond reported clearings of $42,771,000, against $44,901,000 in the previous week, and @ decline of 11 per cent compared with the corresponding week a year ago. Airplane Stock to Be Offered. G. M.-P. Murphy & Co., J. C. Willson & Co. and Bancomit Corporation of New York will offer 200,000 shares of Curtiss-Caproni Corporation common stock at $12.50 a share. Authorized cap- italization will consist of 1,000,000 shares of common, of which 400,000 will be outstanding. Remaining 200,000 shares are equally divided between So- cieta Acroplani Caproni of Milan and Curtiss Aeroplane & Motor Corporation. 83 94 “onso0lGaspt(5) . ConRRCuba pf 6 Consol Textile. . Container A 1.20 Contatner B 60c. Cont Baking A.. Cont Baking B.. Cont Bak pf(8). Contl Can (2%). Cont Insur(6)... Contl Mot(80¢c). Corn Prod 3% Coty Inc (2). Crex Carpet. Crown Zelrbek 1 Crue:ble Sti(5). Crucible pf(7).. CubaCaneSugar. Cuba Cane Su pt Cuba Company. . Cuba R R(4.80). Cuban Am S(1). Cuban Dom Sug. In Ethiopia there is one auto car to [ Cudahy Pkz(4) 40,000 inhabitants: Great Britain 1 to ! Cudahy (rts). 56; Germany, 1 to 181, 80 134 46'% 56l 119% 120% 1827 27 Comsol Gas (3).. 118 11813 9ty 89 115 5 % 5 17% 22 16% 6 64 1% Curtiss Aerotl), 159 B4in B4%h 2243 2213 215% Y% B3 13% 20% 22 5% 86% 581y 857 46 6%, 89 89% 119% 1194 6113 61l 100 100 5 5 68 68 170% 171 53 53% Tl Tl 79" 79 691 691 1494 149% 61y 62 1067 1067 5% Tol 131% 1384 54l Bdk 4 dn o 61 100 5 ) n b4k 72 79 6915 150 % 62 % 10674 ba 76l 4 1384 b 5% W 5 15 105% 185 59% 104 236% % 123% L] 104 234 122 8714 834 82% 94% 27 2 116% 117% 991 99y, 67 Hlx 21 10% 56 874 % 347 83% 943 [ B0% 29 234 89 115 115 5% 17% 22 80 16% 1T% 2. 122, 0 80 16% 6 63% 63% 1% 1% 1591 1535% 1550% Oven. High. Low. Close. | FENYT) branm&Stravs 141% 142 341, Cuyamel Fruft.. Davison Chein.. Del & Hud(9)... Deere&Co pf(7). Devoe A (13.20) Diamond M (8). Dome Mines(1). Drug Inec4).... Duluth Sup(1).. Duplan Silk (2). Du Pont (10). Dupont (new) Eaton Axle (3).. Eisenlohr&Bro. . itingon(2%).. itingn pf(6ls). lec Auto L (4). tectric Boat. .. teclow&Lt(1). lec P&LE pf(7) lec Stor B (5). Hiorn 2,00 'm Brantgm (A) nd-John(5).... sng Pub S(m1). Eng Pu S pt(5 Equit Bldg(2) change(1). frbanks(3). .. airbankMpf(7) FedLight(h1.40) Federal M & Sm. Fed Mot T(80c). Fidelity-Phoenx First NatS(13%). Fisk Rubber.... Fisk R 1st pf ev. Fleischman 1314 Florsheim (A).. Follansbee 214 . Fox. A4).. Freeport T (4).. Gabriel Snub A.. Gardner Motor. . Gen Am Tnk(4). Gen Asph pf(5). Gen Cable. .. Gen C Gen C GenElee sp(60c) Gen G& Gen Mills (3). Gen Motors (5). Gen Mot (New)., GenOutdrAd(2). Gen Ry Sig(5) Gen Refrac(i) Gillette S R(c5). Gimbel Bros. . Gimbl Br pf(7).. Glidden (t1%)., Glidden pr pf(7) Gobel (Adolpn). Gold Dust (new) Goodrich(4) Goodyear Tir Goodyr 1st pf(7) Gotham H (213). Graham-Paige. Grhm-Paige cfs, Granby (6). Grand Unon. ... Grand Un pf(3). Grant W T (1).. Gt Nor pf cfs(5) Gt NoOrefs 2%, Grt Wn Sug 2.80. Gulf Mo & Nor.. Gulf Stat Sti(4). Hack W pf(1%). Hahn Dept Stor. Hanna 1stpf.... Har & Walkr(2) Hartmn B(1.20). Hershey Corp... Hershey pf(4) Holnd Fur(2%). Hollander & Son Homestake(17). Household(t4).. Houston Oil.... Hudson Mot(5). Hupp Mot (£2).. Ind O & Gas (2). Indian Mot (1).. Indian Refining. Indian Refg cifs Indust Rayon. .. Inland S(k7§%). Inspiration (3).. InterboroRapTr. InterconRubber. Internat Agri. Int Ag Ch pf(7 Int Cement(4) Int Com Eng(2). Int Comb pt(7). Int Harv pr(7).. Int Mtch pf 3.20. Int Mer Marine.. Int Mer Mar p: Int Nickl of Can. lat Paper(2.40). Int Paper pf(6). Int Pa&PoAZ.40. Int Papr & Po B. Int Papr & Po C. Int’Pap &Pw rts. Int Prig Ink 2%. Int Rys Cen Am. Int RysCA cfs Intl Sait(5). . Intertype(tli). island Creek(4). Jordan Motor. | Rayser 3(5).... Keith-Albee. 3 Kelly-Spring. Keis Hayes(2).. Kelvinator Corp. Kennecott (8) Kinney pf(8). Kolster Radio. .. Kraft-Pho(1%). Kresge St(1.20). Kreuger & Toll.. Lambert (17)... Lambert (rts). .. Liee Tire & Rub. Leh Por Cmt 2% LehighVal(3%). Lehn & Fink(3).. Lig Myers(15).. Lig & Myrs B 15. Lima Locomive. Loew's Inc (3).. Loew's pf(6%). Loft....... Loose-W(1.60).. Lortllard Co Louistana Oil. Louls GasA 1.75. Ludlum Sti(2).. Ludlum S pf 6%, Mac And(12.85). McCrory A2 McKeespt Tin McKes&Ro 1.60. Mackay pf(4) Macy Co (c2)... Magma Cop (4). Mallison & Co... Manati Sugar... Man Elec Suply. Man El m2g(d5) Man Shirt(2). Market St prios Market St pf. Marlan Ofl... Marmon Mot(4). Marmon rts..... Martin-Parry... Maytag (12)...0 Maytag pf(3) Mengel Co. Mexican Seab. Miami Cop (2).. Mid-Cont P(2). Mid-Cont Pe rts. Mid-Cont pt (7). Middle States. .. Mid States ctfs. . Midland pt(t12) Minn & St Louls. Mo Kan & Tex. . Missouri Pacific. MoPacific pf(5). Mohwk Car 2. Mont Ward 21 Moon Motor . Mother L (40¢) 126 1074 107t Greene Cana(6) 173 Ingersoll-R(16). 13 Intl Bus Ma (3). 152% 92 Open. High. Low. 2% 3% 63% 64 196'3 197% 1254 125% 58 584 157% 157% 9% 9% 123% 103'9 116 49%, 253 420 1047 60%% 7813 93 132% 1323 103 103 Tol 51% By 51 4615 28% 5; 126 36 36% 43% 44 178 51 blls 514 Hahn DS pf635. 1113 111% HamiltonWpt(6) 102 1024 995 991 54ls 5dlg 32 82 46 19% 74 5l 87% 9% 81 Illinots Cen(7).. 141% 141% 3l 27 81% 27 30 7 88ly 8315 112% Int Harv (2%4).. 107% 69% 65y 94 314 181 12% 1 627% 59 B 70 Int Tel & Tel(6). 220 311 5ot Jewel Tea (15).. 151% Johns-Manv(3). 233 Johns-Man pf(7) 119 Jones & Lau(7). 121 13% 82% 401y 21% 887 Kress SH(h1%) 111% 40% Kroger Gro(el). 115% 28 134% Liquid Car(414). 105% 75 108 9% 67 26% 14% 40% 8514 102 43 105 74 51% Mack Truck(6).. 111% May Dept S(4).. 101% Y% 1204 % 3% 249 Milwaukee E1(6) 101 % 50 Mo K&Tex pf(7) 103% 6414 128 T4% 142 6% % Close. | % 173% | Motion Pic Corp. 634 63y | Motor Meter A.. 196 Motor Prod(2).. P | Motor Whi (2).. *| Mullins Mt Mullins pf (7) Munsingwr(3).. * | Murray Corp.... Nash Motors(6). at Acme (1)... | Nat Bellas Hess. % | Natl Riscuit(17) Nat Bise pf(7).. Nat Cash Reg t4 Nat Dairy (13). Nat Dept Stores. Nat Distiliers. .. Nat Distillers pf Nat Lead(5). ... Nat Ld pf B(6).. Nat Pow&Lt(1). Nat Radiator. .. Nat Supply (18). Nat Surety (5). Nevada Cop (2). N O Tex&M (7). N Y Air Br(3)... N Y Centrai(8).. N Y C & StL(6). N Y Dock.v..... Y & Harlm NYNH&Hart(4) NY NH&H pf(7) N ¥ Ont&Westn Y Railways pt A tm pf6). . NorfolkSou 1314 Norf & Wn(110) NorAm b10%stk North Am pf(3). NorAm Ed pf(7) No Germn Lloyd North Pac(5)... Nor Pac efs(5).. Ofl Well Supply. Oil Well Spf.... Omnibus o OppenhmCol (4)., Orpheum pf(8).. Otis Elev pf(6).. Otis Steel...... Owens Bot (c4). Pacific Gas(2) Pac Ol Stub: Pac Tel & Te Packard Mot(3). Pan-Am Petrolm 4 58 10313 68 18% 9714 116% 2491 2144 85! | Panhandle...... Paramount-F-L Park & T11(33).. Park Utah(80c). Pathe Ex . Pathe Ex(A).... Patino M(2.92).. Peerless Motor. . Penick & Ford. . Penn Dixie Cmt. Penn R R(3%).. People’s Gas(8). Pere Marq(18).. Pere M prior(5). Pet Milk (13%).. Phila& RC&1. Phil Morris(1).. Phil-Tones pf(7) Phillips P (1%). Phoenix Hosiery Pierce-Arrow... Plerce-Arrow pt 104% 59% T 97l 130% Pierce Oil pf.... Pierce Petrolm., Pilsbury (1.60).. Pitts Coal. PortoRicoTobB. Postum(3) Prairie Oil&Gas. Prairie Pipe L. .. Pressed Stl Cap. PF Stl Car pf(7). Produ & Refinrs. Pubic SerNJ(2). Pub Serv pf(6).. Pub S NJ pf(7). Pullman Co(4).. Punta Aleg Sug. Pure O1l (1).. Purity Bak(3) Radio Corp Radio (new).... Radio-Keith(A). RSCecfs(4)...0 ReadingRy (4) Reading 2d(2).. Real Silk Hos. .. Remingtnlist(7). Remingtn-Rand. Reo Mot (1), Rep 1 & S(4) Reynolds Spi Rey Tob B 16%. Reynolds B new. RhineWE(1.92). Richtield O11(2). Rio Grande O1l. ., Rossia Ins t6%. Royal Bak P(1). Royal D(a3.222). Safeway (3).... St Jos Leaa(13). StL & SanF'(18). StL&SanF pf(6) StL&Southwest. ®avage Arms(2) Schulte (§3%) Seab Air Lin Seab Air L pf... Sears-Roe(32%) Seneca Copper. . Shattuck FG(2). Shell Trad(rts). Snell Un(1.40). Shubert The(5). Simmons Co(3). SimmsPet(1.60) Sinclatr O1l. So Por Rico(2).. South Calif Ed.. South Dairfes A. South Dairies B, South Pac(6). South Ry(8) NEW YORK STOCK EXCHANGE Open. 18% 22 High. 18'5 185 4 107% 281 107" 2815 104 Ok . 1 SouRyM&O cfs 4 Spang Chalfnt Spear&Co pf(7. Spicer Mfg Spiegel Co Stand Com T(1). SHUG&E (3%). Std Milling (6).. Std Milling(rts). Std Millg pf(6). Std O of Cal(13) StdOIINJ(113%). 4 | StdO{INY (1.60). Std Plate Glas: Std P Glass pt. StdSanPro(1.68) Stewart-War(8) Stromberg (3).. Studetaker(5).. Submarine Boat. Sun Oil (g81).... Superior UIl. . Superior Steel. ., Symington Cl A.. Telautogrph(1). Tenn Copper(1). 128% 68 52 42% 7 Low. Close “ 206t 190 144 135 1314 d1% 293 | 7005 | 64 T4% A% 7815 105% 47 STOCKS IRREGULAR AT SHORT SESCION Heavy Profit-Taking Toward Close Offsets Early Advances. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 26.—Renewed speculation for the rise in selected in- dustrials was partially offset in to- ! day’s stock market by realizing in other issues. There was a continuous jumping around on the part of traders anxious to “catch the move” and hastening to liquidate any stock that showed signs of faltering. The outstanding feature on the side of advance was American Telephone & Telegraph. The opening price was 212, up 5 points, a figure never before equalled. The initial price was bettered later on and the stock absorbed selling remarkably well. There was talk of a new stock offering and of a special dis- tribution notwithstanding the stated policy of the company against anything of that kind. The real explanation probably was that on an investment basis Telephone was far behind the market. New High Record. In the early dealings Consolidated Gas went to a new high for the present chares in continuation of a movement " |long in progress. Peoples Gas made a new top and there was buying at higher prices of Brooklyn Union® Gas. Among industrials Coty, Inc., and Air Reduction exceeded their best pre- vious figures. Air Reduction was mak- ing tardy response to the rapid rise in United States Alcohol, which also sold around its best today. General Motors and Hupp were higher and so was Stewart Warner, which is to be split up, as was officially announced Friday. Against these advances, were sharp declines in National Cash Register, in Montgomery Ward and in General Elec- tric. Below 130 Cash Register was down 14 points from the best of the week. U. S. Steel was hevay in the second hour, although it started in higher. Many stocks which showed gains in the first hour lost them before the close. Some attention was paid to a quoted statement by Charles M. Schwab, prior to his departure for Europe in which he expressed the opinion that a crash in the stock market would involve seri- ous results to manufacturing interests and to business generally. Then there was a widespread feeling in the street itself that some sort of corrective re- action was overdue. Profit Taking Heavy. With few exceptions the railroad stocks were neglected today, as they have been all hte week. Chicago Great Western issues were up for a time, but the seasoned dividend payers did little. Copper stocks were inclined to sag also, | not because of any change in the sit- uation, but because speculative activity had turned in other directions. Profit taking was heavy toward the close and the market left off with mixed price changes. American Telephone was strong to the end, but steel wavered un- certainly. Nash Motors was down on the day and General Motors failed to hold its early gain. CHICAGO DAIRY MARKET. CHICAGO, January 26 (#).—Butter— Higher; receipts, 11,461 tubs; creamery extras, 411;; standards, 47; extra firsts, :2;:517; firsts, 45a45%z; seconds, 43a 2. Eggs—Higher: receipts, 6,174 cases; extra’ firsts, 40; firsts, 39 ordinary firsts, 30235, U. S. TREASURY RECEIPTS. Treasury receipts for January 24 were $5.786,052.67; expeditures, $6,001,335.63; balance, $138,649,518.60. TREASURY CERTIFICATES. (Keported by J & W. Seligma; Rate—Maturity. e WS Mar. 1 37 Mar. 1 4135 June 15, 43 Sept. 15, 4145 Sept. 414 Dec 3135 Mar. 3105 Sept. 13, 3'2s Dec.’ J5, 96 24-32 FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold 'Selling checks value (or pa).”™" today. 548665 $4.847a 193 103907 Open. High. 872 87 6874 1894 1434 88k 19 4l% U S Rub 1st pf.. U S Smelt(3%).. U S Steel(7).. U S Steel pf(7). . Uni Plc 1st pf(8) Univ Pipe & Rad Util P&L A(e2). Vadasco Sales. .. Vanadium (14).. Vick Chem (4)... Victor Talkg(4). Vietor pr pf(7).. Va-Caro Chem Va-CarCh 6 %pf. Va-Car Ch pf(7) VaE&Ppf(6). VaEI&P p(7). Va Ir Coal&C pf. Vulcan Detin. Wabash. Wabash pf Wabash B(5). Waldorf(1%)... Walworth(1.20) . Ward CIA(8). Ward Baking B.. Warner Bros Pio Warner Bros pf.. Warner-Qu(2).. Warrn Bros (15) 12 12 109'3 110% 9% 148% 1. JANUARY 26, 1929 PORK PRICES DROP HERE DURING WEEK Beef Also Slightly Lower. Poultry, Vegetables and Fruit in Good Supply. Demoralization of the pork market and consequent lower prices was an interesting feature of the week’s mar- ket, another feature being the con- tinued high price of veal and lamb. Lower price brought a corresponding increase in demand for pork and pork products, while the high price of veal brought a corresponding decrease in demand for the meat. Beef prices took a slight drop this week, but demand was not heavy, and lin many instances, it is stated, retail prices have not been changed. Fruit and produce dealers continued to, receive attractive supplies from all ditections, enabling them to have dis- plays calculated to induce pations to make extensive purchases. Pouliry Receipts. Continued receipts of genuine Spring chickens this week, coming so much earlier and being so much cheaper than usual at this season, interested local poultry dealers and consumec: 2 Poultry prices are not especially cheap, according to dealers, cheap prices never being expected at this season. Slight fluctuations in butter prices and a slightly firmer condition of the egg market were included in the reports of the condition of the week’s market. ‘Wholesalers already are looking ahead to the increased trade expected for the inaugural holiday season, when thou- sands of visitors from all parts of the country will be here. “The visitors will have to be fed” observed a wholesaler this morning, “and Washington merchants will be equal to the occasion.” It is pointed out by dealers that there is not the slightest doubt about the ability of local merchants to supply all the food that will be required to feed the immense crowd of persons who will be here to witness the inaugura- tion and participate in the festivities incident thereto. It is probable that wholesalers soon will increase their facilities for deliv- eries, realizing increased purchases will mean the employment of extra help. Market dealers this morning had at- tractive displays of foodstuffs of every description, including marine products at Municipal Fish Market and other wholesale places. Demand was heavier than usual, it was stated, business hav- ing picked up from time to time during the past two or three weeks. Prices of most commodities this morn- ing were substantially the same as those quoted the past two days. Retailers were out early in the morning looking for the first pick and wholesalers were amply able to fill their demands. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, tub, 48a49; store packed, 30a35. Eggs—Hennery, 40a42; fresh, selected, 38a40; current receipts, 37a38; storage, 30a32. Poultry, alive—Turkeys, 36a37; Spring chickens, 35a36; Leghorns, 30; fowls, 28; roosters, 19a20; ducks, 25; geese, 20: keats, young 50a60, old 30. Dressed —Turkeys, 40a45; Spring chickens, 38a 40; Leghorns, 30a32; fowls, 36a32; ca- pons, large, 45a46; small, 38a40; ducks, 32a33; geese, 25a30; keats, 80al1.00. Meats, fresh killed—Beef, 18a21; veal, 24a28; lamb, 30; pork loins, 20; fresh h fresh shoulders, 16. Smoked hams, 25; smoked shoulders, 16; bacon, 22; lard, in tins 13, in pack- es 1315, . Live stock—Calves, 16'2a17; lambs, 4. ame—Rabbits, 30a35. Appearance of green corn, genuine roasting ears, from California, inter- ested both the wholesale and retail trade this week roasting ears always be- ing one of the best sellers in the vege- table market. The long trip across the continent did not benefit the corn, how- ever, and dealers were more than will- ing to let it go at retail at 50 cents a dozen. It is expected that some more edible roasting ears will be received in the near future, but prices probably will be higher, especially if the vege- table is tender and sweet. Interesting information relative to the season’s crops of vegetables in Flor- ida was brought to local wholesale deal- ers this week by a grower in that State. Bumper crops of all varieties of vege- tables were anticipated, according to the information imparted by the grower, but weather conditions became such on at least four occasions that much of the lgrowlng crops suffered almost complete l0ss. Growers of string beans have been particularly hard hit, it is reported, while peas, eggplants and other vege- tables also were affected. Frost and wet weather laid low thousands of acres of vegetables several times, according to reports, requiring replanting on each occasion. Usually, according to reports, string beans mature in a little less than a month’s time. Other Vegetable Receipts. ‘Tomatoes are coming from Florida in fairly large quantities, and, it is stated, receipts promise to be so heavy in the near future that the market will be glutted. Dealers this week have also received supplies of tomatoes from Mexico and Cuba, but the Florida stoci is said to have been the best seller. Moderate receipts of the vegetable, re- ported by Government agents, met a light demand and steady market. Re- tail prices dropped as low as two pounds for a quarter. Cucumbers, scarce since the last cold snap in Florida, were received in small quantities this week. Sales were too few, however, to quote prices. Very few eggplants were received this week, dealers reported, and squash continued in_very light receipt. Lima beans continued to be received throughout the week, but not in espe- clally large quantitics, many of them coming from Mexico. Some of the pods were affected by the frosty weather the first part of the week, but the beans were not spoiled. They were quoted at $6.50 and $7 most of the week, retailing 49a50; FINANCTAD Special Dispatch to The Star. NEW YORK, January 26.—Efforts teday to obtain some concrete proof that influential banking groups are | buying into important Eastern public utility situations and that this buying was the basis for the extraordinary movements in public utility stocks were unsuccessful. Bankers would not admit that they | were accumulating the stocks credited | to them and public utility managers | vigorously denied that their propertics were getting out of their control. This did not prevent Wall Street yesterday from going ahead with an- other day of rccord making in the shares of popular electric light, gas and | power companies. There was again a | big turnover in these issues, with a | number reaching new high-price levels. | The recent formation of the United | Corporation under Morgan auspices has | stirred the imagination of the Street | were quoted at from 90 cents to § basket. They were not in greal de- | mand. Fruit Supplies. Fairly heavy receipts of tup-quamyi strawberries have been received from Florida the past few days, and sold around 55 and 60 cents a quart, re- tailers selling them at 70 cents. Re- ports from Florida tell of a prospective heavy crop of the berries the next few | weeks, and most of the fruit, it is stated, promises to be large and splen- didly flavored. Many berries were lost during the cold spells, but the vines have fully recovered from the effects of the storm damage, and no addi- tional similar damage is anticipated. Grapefruit and oranges, not so seri- ously affected, have been plentiful this week, and reports from growers tell of | heavy crops. Many of the oranges are particularly small this scason, it is stated, but are juicy and possess the sweet orange flavor. Many of the grapefruit also are much smaller than usual. Oranges were quoted all the way from $2.25 to $4.25, according to s {and quality. The largest of the fruit, i% is stateq, is in demand for consump- tion in hotels in all parts of the coun- try, and consumers are willing to pay a premium for them. Grapefruit was quoted around $3.50 and $4. ‘Tangerines, in moderate supply, were not in great demand at from $1.25 to $2.75, few extra quality fruit selling at slightly higher prices. Cranberries, not in plentiful supply, sold at $9.50 and $10.50 for half barrels. Dealers in fruits also had pears, bananas and pine- apples to offer the retail trade. Appearance of fish of the species caught in Winter seines in creeks below Alexandria proved interesting to dealers and patrons at Municipal Fish Market this week. Included in the catches were carp, catfish, eels, sand perch and yel- low perch. Prices ranged from 8 cents a pound for small perch and catfish to 18 cents for carp. Florida shippers continued to supply shad to local dealers, the roes selling at | 40 cents and the bucks at 28 cents a| pound. Only few herring were received | from Florida during the week, North Carolina netters having made catches of the fish and supplying the local market. Trout, received from Florida, were scarce at 25 cents_a pound, while king- fish and Spanish mackerel were plenti- ful at 18 cents. Northern shippers sup- plied quantities of cod, pollock, had- dock, filet of haddock, smelts, halibut and salmon. Small quantities of crabmeat were received from Hampton, Va., shippers and offered at 75 cents a pound. None was received from Biloxi, Miss., pack- ers, however, the crabbing season not having opened there. Lobsters were similarly priced. Dealers reported a scarcity of oysters during the week, quoting an advance of about 50 cents a bushel for shell stock. Shucked oysters were offered at prices quoted last week, $2.50 a gallon for |REPORTS OF CONTROL BUYING IN UITLITIES ARE RESUMED and led it to believe that not only is this new concern to obtain control of all of the big utilitiess in New York, New Jersey and Pennsylvania, but that it intends ultimately to work its way into a commanding position in other important projects of the sort along the Atlantic seaboard. It is doubtful, however, whether this is the plan of the sponsors of the United Corporation, who have a big enough job in tying together the lead- ing systems in the three States and administering them in the interest of consumers of their products in the three great metropolitan and suburban areas. So far as can be learned. there is no intention of taking over any of the properties in the Electric Bond and Share system, although the securities of some of the holding companies in the Mitchell group have been among the most active and strongest recently. On the other hand, there are several important situations where control can be obtained due to the willingness of operators, who feel that they have reached the limit of their ability, to sell out at the present high levels of market values. Wall Street was greatly interested in the attitude of the Public Bervice Commisison of Maryland toward the threatened entrance of outside inter- ests into the Consolidated Gas, Electric Light & Power of Baltimore situation, which is regarded as one that should be preserved for local development. The commission has intimated that ‘t would not look favorably on any appli- cation that might cqme before it from an outside holding dompany to trans- fer control of this stock from its pres- ent management, which has been so successful in building up the Baltimore property and giving its customers the benefit of an efficient administration both through fair rates and excellent service. Open Japanese Branch. YOKOHAMA, Japan, January 26 (#). ~—Mayor Ariyoshi and other Japanese and American dignitaries participated in ceremonies attending the opening here recently of a Ford assembly plant built at a cost of $1,350,000. - General Motors has an assembly plant outside Osaka. —-—— Mail Boxes on Cars. HAMBURG, Germany, January 26 (#).—Mail boxes have been attached to the rear of every street railway car passing the main railway station here. Special postmen collect the mail for shipment on the first outbound train. First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, In First Mortgage and | Construction Loan Applications Invited at 5Y2% Glover & Flather 1508 H St. N.W. Main 1753 selects and $2.25 for standards. for LOANS on H. L. RUST 1001 15th St. N.W. These lars each year and a bite there but the number ence. APPLICATIONS INVITED IMPROVED PROPERTY Located in the District of Columbia and adjacent suburbs in Montgome: and Prince Georges Counties, Mx 5% INTEREST Apply to COMPANY LOAN CORRESPONDENT The PRUDENTIAL INSURANCE COMPANY OF AMERICA Main 8100 Exterminate Pests! Insects rob us of two billion dol- in crors which they destroy. With a nibble here no single insect does much damage by himself, of his brothers more than makes up the differ- Texas Corpn(3). Texas & Pac(5). Tex Cor 50% pd. TexasGulfSul(4) T&P C&O(b2%) . Tex Ld Tr(new) The Falr(2.40).. Thomp J R(3.60) Thompson(rts).., Tidewater AsOil TidWAsOIIpt(6) Timken Roll B. Tobac Prod (8).. Tobac Prod A(7) Transcont Ofl. .. Trico Prod(2%) Truax Traer. ... Twin City RapT. Undwd-El F (4), Union Carb(§) Un O1l Cali2). Union Oil (rts).. Union Pac(10).. 884 8% 97l 1084% 10% 43 29% 557 1097 White Ea, Wilson & Wilson & Utd Cigar St(1). Utd Cgr St pf(6) Utd Elec Coal... Utd Fruit(t5%). 141% Utd Paperboard. 23 US CastIr P(2). 45% USCIP 1st1.20. 18% USCIP 2d1.20.. 19% U S Distributing 15% U S Distrib pf(7) 7% 19% 15% 46 45'% 151% 153% 150 USIndAlcopf(7) 124% 1247% 124% 32 31% L 86% 85 0% 51 0% U S Realty (4) U S Rubber. of erred stock. this year—no regular rat ¢ Plus 5% in Warren F&Pip ‘Wesson Oil (4).. ‘Wes O&Sno pf7. W Penn El A(7). W Penn El pf(6) W Penn EIl pf(7) West P Po pf(7) West DairyA(4) West Dairy B... West Maryland. Westhse A B(2). Westinghse(4).. Westhse Elrts. . Weston Electric. gle(2). White Mot(1)... White Sew Mach Wilcox Oil & G.. Willys Ov c1.20. Co.... Co pfa Woolworth (6).. Worthn Pump. Wright Aero(2). Wrigey ((13%). Yellow Truck. Young Spring.. 57 Youngstn Sh(5). 114% 5 me; ear! T half-y 3 Plus 4% in stock. trading less_than jus 1 at 90 cents and $1 a quart. Celery has been particularly plentiful this week, some of it being fancy Cali- fornia stock, that brought $6.50 and $7 a crate. Florida stock was cheaper. Light supplies of peppers from Florida met a light demand and steady market. Receipts were in excess of the demand. Most of the peas received this week were from Mexico. They miet a light demand and dull market, 45-pound crates selling around $6. California growers furnished the local market moderate supplies of cauliflower, pony crates selling at $2 and $2.15. A light demand for light receipts of carrots, product of Texas growers, was reported, crates of bunched stock selling at $3.50, few higher. Moderate receipts of spinach and kale, most of the former from Texas and most of the latter from the Nor- folk, Va., section, found ready sale at prevailing prices. Cabbage, old stock from New York and new stock from South Carolina, came in moderate sup- plies this week, moderate receipts of onions also being reported. ‘While potatoes were reported in mod- erate supplies, dealers were able to more than meet demands. Nancy Hall sweets, le | received from Eastern Shore of Mary- land growers, sold around $2 a bushel basket. Fairly liberal supplies of let- tuce from the West and moderate sup- plies from the South were reported during the week. Broccoli was in de- F | mand at $1.50 and $1.75 a crate. . in | _Mushrooms, hothouse stock, In | Pennsylvania and other States, f06_shares: {35 In stoc] from were Tear Stoses common ‘stoce: ‘5 Plua ' Plentiful all this week. They were re- o stock. ported of exceptionally good quality and Like insects, are the small extra expenditures that have destroyed S0 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. /