Evening Star Newspaper, January 29, 1929, Page 14

14 = FINANCIAL. CHESTNUT FARNS . DARY IN MEREER Dirgctors Call Meeting of Stockholders to Vote on Recent Proposal. BY EDWARD C. STONE. It was learned in the local financial district today that Chestnut Farms Dairy, Inc., is soon to become affillated with the National Dairy Products Cor- poration, one of the largest ~ organiza- tions of the kind in the country. Na- tional Dairy stock is listed on the New York Stock Exchange, and is now selling above $134 per share. Following a re- cent meeting of the Chestnut Farms Dairy directors, a special meeting of the stockholders of the concern was called for 4 o'clock this afternoon at the head office at ‘Twenty-sixth street and Pennsylvania avenue, to vote on making the company a subsidiary of the National Dairy Products Corpora- tion. It is expected that the entire out- &tanding issue of $1,000,000 in preferred stock will be called at $110 per share. ‘This is a 7 per cent issue, listed on the Washington Stock Exchange, the last sale having been made at 109. The company also has 12,500 shares of com- mon stock on the local exchange, the last sale in this issue being recorded at 205, with 217 bid and 227 asked, since that time. One of the most important announce- ments made today was that the com- pany will retain its present officers, di- rectors and management. Calling of the preferred stock will be handled by Crane, Parris & Co., investment bank- ers, who had charge of both the stock and bond issues when they were placed on the market. Payment for all pre- ferred stock will be made at the firm's office on Fifteenth street. ‘The present Chestnut Farms Dairy officers are Henry N. Brawner, jr., president; Edgar N. Brawner, vice president; Herman A. Schulteis, treas- urer, and Jeremiah W. McCarty, secre- tary. The present company was organ- ized on January 3, 1924, as successor to a business started in 1896. While ‘Washington never faces a milk famine, yet if such an emergency should ever arise, the local concern could secure from the parent company all the milk that might be desired. Company Reports Successful Year. The annual meeting of stockholders | of Federal Services Finance Corpora- tion was held recently at the com-‘ pany's offices, 26 Jackson place. Of the 182 stockholders of the company all ex- cept about 20 are officers of the Army and Navy, both active and retired, or members of officers’ families. The president reported that the com- pany had just completed a very profit- able year's business; that net earnings were sufficient to meet regular dividend requirements plus approximately 50 per cent of that amount added to undivided profits, and that the company's policy of selling its five-year 6 per cent de- bentures on a monthly payment plan was working satisfactorily. The usual quarterly dividends of $1.75 per share on the preferred and 50 cents per share on the common stock were declared, payable Jan- uary 31. ‘The officers for the ensuing year are: President, Francis E. Pope; vice presi- dent, Col. David S. Stanley, U. S. A, retired: vice president, Maj. Willilam H. Garrison, U. S. A, retired; vice president, secretary-treasurer and at- torney, Lieut. Col. Lewis W. Cass, U.S. A., retired. The board of directors consists of the above-named officials and Capt. Clay Anderson, Corps of Engineers, U. S. A William G. Wheeler, Washing- ton, and H. H. Votaw of Takoma Park, Md. Institute Has Large Enrollment. A. E. Henze, chairman of the educa- tional committee of Washington Chap- ter, American Institute of Banking, re- ported splendid interest shown on the part of students on the opening night ! of the second semester. It is expected there will be 350 or more registrations in the various courses. Three classes were organized at chap- ter headquarters last night—the course in negetiable instruments, under Ray- mond B. Dickey; class in standard banking, under F. J. Donahue, and the class in business forecasting, under Walter H. Dunlap. Tonight three more classes will be organized. These are the class in bank- ing fundamentals, under Dr. Eliot H. ‘Thomson, the largest and, from the standpoint of foundation work in prac- tical banking, the most important course in the curriculum; the class in commercial law, under Bolitha J. Laws, and the class in analysis of financial statements, under Willlam Gordon Bechanan. The class in business Eng- lish and letter writing, under Arthur Deering will meet on Wednesday eve- ning. Local Bank Stocks Active Today. Riggs National Bank stock sold on the Washington Stock Exchange today m' 577'> and 577. National Bank of Washington appeared on the board at 31215, East Washington Savings Bank registered 39, and seven shares of Fed- eral-American National sold at 342. The final bank stock sale was 10 shares of American Security & Trust at 470%. Chestnut Farms Dairy preferred changed hands today at 109, Com- mercial National Co. preferred came out at 104 and 40 shares of Merchants' ‘Transfer & Storage preferred moved at 109. Mergenthaler was quiet at 104, | Terminal Refrigerating & Warehousing Corporation came out at 521% and 50 shares of Washington Mechanics’ Mort- Bage common sold at 11. After call Potomac Electric 51, per cent preferred sold at 10815, Washing- ton Gas opened at 120 and closed at 121. Potomac Electric 6 per c pre- li;rgtglmost‘d al‘) 112 Bn}:i the day’s trad- osed with 40 shares of ‘Traction selling at 10615, Sepial Commodity Prices Higher. Prices of commodities during the Week ended January 26 advanced one- half of 1 per ceni over the previous week, according to the wholesale price index of the National Fertilizer Asso- ciation. The chief advances occurred in grains, feeds, live stock and foods. Slight advances occurred in sodium nitrate, copper and miscellaneous. Ma- terial declines occurred in petroleum, gasoline and ki cne. Fiduciary Section Meeting. The fiduciary section of the District Bankers’ Association will have between 50 and 60 bankers and guests at to- night's dinner meeting at the Willard, beginning at 7 o'clock. As previously noted, the chief speakers will be Reuben A. Lewis of the American Bankers' As sociation and Robertson Griswold, pres dent of the Fiduciaries' Association of Baltimore. F. P. H. Siddons, chairman of the section, will preside. F. W. Demio, vice president of the Old Col- ony Trust Co., Boston, and president of the Massachusetts Fiduciaries’ Asso- ciation, is in the city today and will attend the dinner. Heard in Financial District. Robert V. Fleming, president of the Riggs National Bank and of the District ciation, has gone to Florida ek’s rest at Miami. Loew’s, Inc., has declared the regular quarterly dividend of $1.62); on the $650 cumulative preferred, Feoruary 15 to stock of record Febru- ary & A. E. Henze. Abitibl Power. Ab, Adv Rumley. Amal Leather. Amerada(2) Am Agri Ch pt Am Bosch, . Am Can pf(7) AmCar&Fdy (8 Am&ForP pf(7 Am Home Pr(3 Am Ice (1215) Am Ice pf(6). Am Locomot(8 Am Loco pf(7) Am Ma & Fy (4 Am M&Fpf ew Am Metals(3). Am Nat Gas pt AmP&L prA2?, AmP&LDE sta Am Radiator (5 Am Rad pf(7). Am Ry Ex(6). Am Republics. Am Snuff (12). Am Sugar... Am Tel & Tel(9. Am Tobacco(8) Am Tobac B(8 Am Tob pf(6) AmWW&EI(cl) Anaconda C (6) Anchor Cap. Anchor pf (6 Armour 1I1(A). Armour IlI(B). Atlas Tack. . Aus Cred(4.49) Auto Sales. Auto Sales pf(3 Balto & O(6) Barker Bros(2) Bayuk 1st pf(7, Beacon Oil. Beecn-Nut Bel Best & Co(3).. Bloomingdale Bon Ami A(4). Booth Fisheries Borden Milk(6) Brockwy Mot(4 Bklyn-Man(4). ErownShoe(23% Brunswick Ter, Bucyrus(1)... Bucyrus cv(2% Bucyrus pf(7). Buft&Sus pf(4) Bush Term(g2) Butterick Co. Byer & Co. Byers A M(rts) Calif Pack(4). Callahan Zine. Calu & Ariz (6) Can Dry (14%) Celotex Co (3) Celotex pf (7). Cen Aguirre(2) Century Rib M Certain-td pt(7, Ches & Ohio(10 C & O Corpn(3) Chi & Alton. Chi M1l & St P, Chi Mil & StP Chi R1&Pac(6) Chickasha(3). Childs(2.40) Chrysler(3) City lce & Colilas & Alkm Com Cred(1).. om In Tr pf 6 om Solvnts(8 Com Power(12 Conde Nast(2) | Congoleum-Na payabl» | Cong Cgrs (5).. Consol CErs (7). ConCigprpf(6%) m&Straus 139% 139% 139% 139 Adams Exp(6). Ahumada Lead.. 4 4 Alr Redctn (13). 110% 110% 107% 110% Albany Papr(2). Allied Chem... Allied Cm pf(7). 123 Allls-Chalm(7). 179 Allis-Chalm rts. Am Agricul Chm Am Br Sh(J1.60) Am Brown Bov. . Am Brown Bo pf Am Can (4).... 112 AmC&F pf(7). 118 Am Chicle (2).., Am Drug (60c). Am Encau T(4). Am & For Pow.. lam&For P2a7. Am Hide & Lea. . Am Hide & L pf. Am Internatl(2) 141 Am Internat(n). Am LaFr&Foam Am Metals pf(6) 124 AmPo&Lt pf(6)] 1015 101% 101'% 101% Am Saf Raz.19). Am Seating(3).. Am Ship & Com. 4 3 Am Sm&Ref(4).. 115% 116% 1 Am S & Rpf(7). 137%2 137 137'% Am St Fdys(3). 2% Am Sugar pf(7). 109% 109% 109% 1097 Am Sumatra(3). 57 Am TypeFo(8).. 146% 149 Andes Copr 75e.. Archer Dan (4).. 1003 101 Armour Del pf 7. Armour 111 pf(7) 84 Arnold Con& Co 35% 36% 35% 363 | Freeport T (4) Art Metal(1%). Atch T&S Ferts Al Coast L(110) 176 Atl Gulf & WI.., Atlantic Ref(1). AtlasPowder(4). 108 Atlas Pow pf(6). 105 Austin-Nichols, Bald Lioco p£(7). 118 Barker pf(63). Barnet Leather. Barnsdall A {2). Bayuk Cgrs (2).. 111 ing-Hemwy. Belg N R pf(16). Bethlehm Stl1(4). Beth Steel pf(7) 122 Briggs MfgFCo, British Empire. . British Emp 2d.. BklynUnGas(5). 200 Brunswick B(3) Burroughs(t4).. 2395 Bush Ter de(7).. 108% Bush Ter pf(7).. Butte Cop & Zino Butte & Sup(2). Byer & Co pf(7) . 115 By-Products(2). 125% 125% 123 Cal & Hecla(4)., Cent Alloy2).. Cerro de Pas(5). 104% 104% 103 Certain-teed Pro Chandler-Cl pf.. Chi Gt West pt.. Chi& Nwn (4).. Chi Pneu T new. Chi P T pf(3%).. CRI&Ppt(6). CRI&PpL(7). Chile Cop (3%). B 5% st City Stores(rts). Clev&Pitts(2%). Cluett-Peab(b). Coca-Cola(6)... Col & Aik pf(7). Col Fuel & Iron. Col Gas & E(5). Col Gas&El new. Col G&E pfA(6) Columbia Graph Col Carbon 14% . Com Cr1stpf 6% Com Cr pf B(2). Com Credit(rts) . Com Inv Tr (4). Com Inv (war). THE EVEN. NG STAR, WASHINGTON, D. C, TUESDAY, JANUARY 29, v1929‘ Open. High. Low. Close. 51 51 48% 48%|Con Cgrs pf(7).. Con Film pr(2).. Comsol Gas (3).. ConsolGaspf(5). ConRRCuba pt 6 Consol Textile. . Container A 1.20 Container B 60c. Cont Baking A Cont Baking B Cont Bak pf(8)., Contl Cam (2%). Cont Insur(6)... Contl Mot(80¢c). Corn Prod t3%.. Corn Prod pf(7). oo Coty Inc (2).... . 43 3 CrownWPI1stpf? Crown Zelrbck 1 Crue:ble Sti(5). CubaCaneSugar. Cuba Cane Su p: Cuba Company.. Cuba R R(4.80). Cuban Am S(1).. Cudahy Pkg(4). Cudahy (rts)..., Curtiss Aerot1). Cutir-Ham(3%) Cuyamel Frult.. Davison Chem. . Deere&Co pf(7). Del & Hud(9)... Del L & W(t7).. Den RG Wn pf.. Detroit Ed(8). Devoe A (13. 407 . 48 407 403 49% 48 2% 403% 49% 3% 10% 10% 8l 81 Bl 84 23% 23% 23% 23% 276 277 269 272 123 122% 122% 190 179 1691 4 4% 9% 10 321 32% 2% 10% 10% 4 9% 5% 112% 111% 111% o 141% 141% 141% 141% ). 99 29 98ty 98% 120 118 120 67 56 55 10% 10 10% 88 88 88 &8 8514 8916 8514 891 9815 1007 9815 1007 ). 106 106 106 106 9 9 9 9 33 33 33 33 3l% 814 80 80 40 400 39% 40y 93% 94 93% 94 143 141 2% 71 s 56% 10% ). 1% T Th % ). 110 111% 110 1113% .o 117% 117% 116% 116% ). 183 183 181 181 7.115 115 115 115 - 69% 69% 68% 69 124 124 96 96 15% 15 46% 48% 46 48 108 1157 1041 113% 5% 5% T5% T5% 81% 81's 81 81y Diamond M (8). Dome Mines(1). Drug In¢(4).... Dunhill Int (34). Dunbill (rts).... Duplan Silk (2). Du Pont (10). Dupont (new). .. Du Pont deb(6) . Eastman(18)... Eaton Axle (3).. Bisenlohr&Bro Eitingon(23%)... Elec Auto L (4 Electric Boat ElecPow&Lt(1). EP&LDL 40% (7) Blec P&L pf(7) Elec Stor B (5).. Eilk Horn....... Elk Horn pf.... | Em Brantgm(A) End-John(5).... Eng Pub S(m! Eng Pu S pf(6). Equit Bldg(2).. EquitableTr(12) Erie R R. 7 96 15% ). 206 211 1 .195 195 195 138 138 138 . 564 56% 55 7 1 70 34% 34% 34% 4 2 201% 195 138 55 1% 34 EEY 115 % 137% +. 2035 203}y 203 3% T3% T0% 2% 94 921 e 5614 ) 216% 217 213 . 186% 1861 185 185 |Drielstpf. 1867 1867 183 1s5 | Dureka Vac (4).. - 120% 120 120% 120% | Fairbanks(3)... 146% 149 | FedLight(h1.40) « B4% 913 84% 913 (Federal M & Sm, 23% 23% 231 233 |Fed Mot T(80c). 50% 5% 50 517 | Fidelity-Phoenx. 39 39 384 381 |Filene's Sons. ... 104% 105 104% 105 |Filene'spf(6%). + 123% 123% 1214 12215 | First NatS(13). 54 55% 53% 55 | Fisk Rubber. 11d% 1144 114 114 | Fisk Rub 1st pf. 49% 49% 4815 49 |FiskR1stpfev. 9815 101 | Fleischman 3% 9374 94 |Florsheim (A).. 16% 16% | Follansbee 123 . 84 9 |FoundationCo.. 83% 81 |Fox Film A(4 564 217 937 94 .o 16% 16% . 8w 9 84 200 29% 29% 2974 65% 65% 65 65 g:?;i.’;rsfi'éfafi" 450 454 46% 45%|Gen Am Tnk(4). 9| Gen Asphalt. ... 2 |Gen Asph pt(5). 3% 10814 1034 | Gan Cable. 176 175% 175' | Gen Cable A 37% 37% 37% 37% | Gen Cigars(4). . 55% 5o% 5312 54| Gen Electric 16.. l(lg 108 108 GenElec sp(60c) 105% 105 105% | Gen G&EI A(12). 1212 12 |Gen Gas pf B(7) 7 % 7 T%|GenlceCrm(i4) 64 64 64 64 |Gen Mills (3)... 28% 28% 23% 23% | Gen Mills pf (6) ) 39 39 38% 38%|Gen Motors (5).. 118 118 118 | Gen Mot (New). + 121% 121% 121 121% | Gen Mot pf(7).. 12 Bamber pf(6%). 109% 109% 109% 109% | GenOutdrAd(2). Bang & Ar(3%). Bang & Ar pf(7) 110% 110% 110 66% 66% 66% 663 | Gen Outdr Ad(4) 110 | Gen Ry Sig(5).. 33 33 33 |Gen Refrac(s). 95% 95% 95% 954 | Gillette S R(e). 25% 25% 254 25% | Gimbel Bros... 40% 40% 40 401, | Glidden (11%) 111 111 111 | Gobel (Adolpn). 106% 106% 105% 105 | Gold Dust (new) 23% 23% 22y 23 |Goodrich(4) 921, 93 90 90 |GoodyearTire. . 13 13 12% 123 | Goodyr 1st pf(7 81 81 81 81 |Gotham H (2%). 87 87 87 g7 |Gothmnv(2}).. 83% 8415 8295 s25| Gotham Hpf(7). 122 122 122 |Graham-Paig 54% 481 50% | Grhm-Paige cf 85 84% 84 | Granby (6) 9% 9% 91 | Grand F&W (1), 53% 63! 531 | Grand Unon.... 195 193 19314 | Grand Un pf(3). 55% b4% 543 | Grant W T (1).. 574 | Grt North pf(5). 117 | Gt Nor pf cfs(5) 68 | Gt NoOr efs 2%. 78 |Grt WnSug 2.80. 200 197 198 | Grt Wn Su pf(7) 43% 43% 433 | Greene Cana(6) 5 50% 5114 |Guantanamo Su. 38% 3714 38y | GUIf Mo & Nor.. 38 475 38 | Gulf StatSti(4). 46% 46 46 | packw PI(1%). 133 1});9. lél Hahn Dept Stor. 24914 2391, 246 g:i‘,:fli"n‘,"" 8 76 78 | Haremn B(1.20). 108% 108% 108% | HavE) Ry pfe6) 115% 118% 115% | Haw Pine(1.80). m;: ,fif‘ 13;: Helme Geo(17). 351 38" sen | Hershey pf(4).. i i521; | Hollander & Son 145 14 14% 14| oo, 115 115 lé5 Houston Oil..... 123 | Howe Sound(4). 5% 5% 75% 75% | Hud Man(2%).. 3% 3% 3y | Hudson Mot(5). 124% 123 * 1233 | Hupp Mot (£2).. T e e | minots Cenc7).. . 33 5318 95 55% 6 123 ) 68 . 78 .- 3 68 671 T8% 77 ) 43% 51t 374 . 3T ) 46% .14 . 59% . 7% 115% 8% 10% 35 % . 124 53% . 9% Can Pacific(10). 248% 249% 246 11 Cen Iss 1i(4) . Canon Mills 2.80. " g Case Threshg(6) 470 470 Cavanah Dobbs. “an e Ind O & Gas (2). Indian Mot (1).. indian Refining. Indian Refg ct Indust Rayon. Ingersoll-R(18). Inland S(k16%). Inspiration (3).. InterboroRapTr. InterconRubber. Internat Agri. .. Intl Bus Ma (5). Int Cement(4) Int Com Engi2). Int Comb pt(7). Int Harv (2%) Int Mtch pf 3.20, Int Mer Marine, Int Mer Mar pf. . Int Nickl of Can Int Nickel pf(7). Iat Paper(2.40). Int Paper pf(6). Int Pa&PoA2.40. Int Papr & Po B. Int Papr & Po Int Pap &Pw rts. Int Pa&Po pf(7) Int Prig Ink 2%. Int Rys Cen Am. Int RysCA efs Intl Salt(5)..... Int Te! & Tel(6). Interstate D S.. Intr Dep S pf7.. Intertype(t1% Island Creek(4). Jewel Tea (15).. Johns-Manv(3). Johns-Man pf(7) Jordan Motor. 149% 1475 14914 | ';::,C,:,‘,,’S;‘;‘,’; 61% 6l 614 61% | KayserJ(5).. .. 107% 107% 1067 107 | iCeithoAl pe(t) 74 1% T3% TT% | Kelly-Spring. ... 137% 137% 135 136k | Kels Hayes(2). . .. B3% 53% 53 63% | Kelvinator Corp. 104% 1045% 104 104% | Kennecott (8) 27 2T% 27 2T%|Kinney pf(8). 4% 4% 4% 43| Kolster Radio. .. 191% 193 186 190 | Kraft-Pho(1%4). 59% 59% 56 57% | Kresge St(1.20). 5 98 EL] 98 98 Kress SH(h1%) ). 243 218‘ Kreuger & Toll. . ). 1’.';", 13 Kroger Grotel). i Lambert (17)... Lambert (rts) | LLee Tire & Rub. Leh Por Cmt 23 LehighVal(36). 45 45% 45 45% B4% 34% 34% 34% % TT% T4 1% + 90% 90% 90 90% . 4Th 48 47 48 482 49% 481 491 o 19% 19% 19 19 103 25 25% 25 25 78% 8% T84 8% 8812 90 87 87 22% 22% 22% 41 40 40 ) 216 216% 211% 211% 84 84 8215 833 13% 20% 21% 57% 36 ). 13% B6% B8% 584 8815 88% 84% 33% 55 b . 35% 1337 134 101% 101% 101'% 101% 107 107 107 107 o 46% 46% 46 46% bT% 57% 564 562 89% 90 120% 1205 11 . 62% 621y 9812 243 621y 9819 241 Y814 ir 82 9214 23 BL% 9213 23 99 28 99 2814 115 116% 99% 99 €8s 68% Sl 207 10% 143% 144 80% 80% Devoe&R 1st(7), 1 117% 182% 70 1324% 102y 5414 86% 80% 141% 9% 31 226 81 138 150 229% 120 13% 122 21% 554 16% 543, 97 687 36l% 7% 877 110% 110% 41w 42y 114% 115 27% 114% 99% 638% 5 20t 10% 1177% 181% 70 1414% 79% 304 56% 148% 1130 132 6 22% AT% 96 ] Open. High. b;v. Close. 9 99 2% 116% 9915 68" Hla 20% 10t 581 11t 94 63% 90 247 88% 141 Lehn & Fink(3). Lig Myers(15).. Lig & Myrs B 15. Lima Locom(ve. Liquid Car(4%). Loew's Inc (3) Loew's pf(6%).. Loft Loose-W (1.60) Loose-W 1st(7 Lorillard Co. Loritlard pf( Louisiana Oil. .. Louls GasA 1.75. Louls & Nash(7) Ludlum Stl2). ., Ludlum S pf 6%. Me Call Corp(4). McCrory B(2)... McCrory pf(6) Mcintyre P(1).. McKeespt Tin Pl McKes&Ro 1.60. McKsn pf A 3%, Mack Truck(§).. Mackay(7) . Macy Co (c2 Mad Sq Gar 1 Magma Cop (4). Mallison & Co. Mandel(2%).. Man Elec Suply . Man El m2g(d5) Man Shirt(2) . Marlan Ofl...... Marlin-Roe 3% . Marmon Mot(4). Martin-Parry. Maytag pf(3)... Maytag 1st pf(6 Mengel Co...... MetroG pf(1.89) Mexican Seab. .. Mtami Cop () Mid-Cont P(2). . Mid-Cont Pe rt Middle States. Mid States ct Midland pf(t12) Minn & St Louis MStP&SSM 1i(4) Mo Kan & Tes. . Missour} Pacific. MoPacific pf(5). Mohwk Car 2%, Mont Ward 2% Moon Motor.. .. Mother L (40¢).. Motion Pic Corp. Motor Meter A.. Motor Prod(2). Motor Whi (2) Mullins Mfg. Mullins pf (7).. Munsingwr(3) Murray Corp.. Nash Motors(6). Nash & Chat(7). Nat Acme (1)... Nat Bellas Hes: Natl Biscuit(17 Nat Bise pf(7).. Nat Cash Reg 14 Nat Dairy (33).. Nat Dept Stores. Nat Distillers. .. Nat Distillers pf Nat Enamlg (1). Nat Lead(b).... Nat Lead pfA(7) Nat Pow&Lt(1). Nat Radiator... Nat Radiator pf. Nat Ry Mex 1st. Nat Ry Mex 2d.. Nat Supply (18) . Nat Supply pf 7. Nat Surety (5). Nevada Cop (2). N Y C&StL(6). N Y CStLpf(6). N Y & Harlm(5) NYNH&Hart(4) NY NH&H pf(7) N Y Ont&Westn N Y State Rys pt N Y Sum pf(6).. NY Stm 1st pf 7. Nort & Wn(T10) NorAm b10 % stk NorAm Ed pf(7) No Germn Lloyd North Pac(5)... Nor Pac cfs(5) Norwalk Tire. NEW YORK STOCK EXCHANG Open. High. Low. Close. 65% 104 102 48% 106 T5% 114% 186% 29 204% 189'% 1434 133 Ofl Well Supply. 1 0il Well S pt. Omnibus. ...... OppenhmCol (4). Ous Steel Otis Stl pr pf(7) Owens Bot (c4). Pacific Gas(2).. Pac O} Stubs... Packard Mot (3). Pac Tel & Tel(7) Pac Tel & Tel pf Pan-Am Petrolm Pan-Amer Pet B Panhandl .. Paramount-F-L Park & Til(33).. Park Utah(80c). Pathe Ex.. Patino M(2.92) Peerless Motor. Penick & Ford.. Penn C&Coke. .. Penn Dixie Cmt. Penn R R(3%).. Peoria & East Pere Mara (18 Pere Marq pf(5) Pere M prior(5). Pet Milk (1%).. Phila Co (17).. Phila Co pf(3). Phila&RC&I. Phil Morris(1).. Phillips P (1%). Phoenix Hosiery Pierce-Arrow. .. Plerce-Arrow pt Plerce Oil...... Plerce Oil pf. Pierce Petrolm Pilsbury (1.60).. Pirelli of Italy Pitts Coal Pitts Coal pf.. Pitts Ter pf(6). Pitts&WVa(6).. Por RicoToA(7). PortoRicoTobhB. Postal T&C pf 7. Postum(3)..... Prairie O11&Ga: Prairie Pipe L. Pressed Stl Car. Pr St Car pf(7). Produ & Refinrs. Pubic SerNJ(2). Pub Serv pf(6).. Pub S NJ pf(7) Pub S NJ pf(8).. Pub SE&G pf(6) Pullman Co(4).. Punta Aleg Sug. Pure Ol (1). Purity Bak(3).. Radio Corp. Radio (new). RadioCo pf(3%) Radio-Keith(A). RSCefs(4). ReadingRy(4). Reading 2d (2 Real Silk Hos. Rets(R)& Co. .. Rels 1st p£(7). | Remingtn-Rand. Rem-Rd 151(7).. teo Mot (11).... Rep 1 & S(4). Reyrolds Spng: Rey Tob B 163% Reynolds B new. Richfield O11(2). Rio.Grande Oil. . Rossia Ins 163 . Royal Bak P(1). Rutland pf. Safeway (3). Safeway pf ( St Jos Leaa(13). StL & SanF'(18). StL&SanF pf(6) StL&Southwest. Savage Arms(2) Schulte (J3%).. Schulte pf(8)... Seab Alr Lin Seab Air L pf. Seagrave(el.20). Sears-Roe(32%) Seneca Copper. Shattuck FG(2). Shell Un(1.40). Shubert The(5). Stmmons Co(3). SimmsPet(1.60) 654 21 64ty 138% 824 3874 103% T4% 58% 7 21 65% % | Stand Com T (1 Received by Private Wire Direct to The Star Office Open. High. Low. Close. 3T% 3R 37 3T 36 6 354 Sinclalr Ol So Por Rico(2) South Calif Ed South Dairies A. South Dairies B. South Pac(6) South Ry(8). SouRyM&O cfs 4 Spaulding pf(7). ). SIG&E (3%). Std G & Epf(4). Std Milling (6).. Std Milling(rts) . Std Millg pf(6). Std O of Cal(13) StdOIINJ(11% ). StdO:INY (1.60). Std Plate Glass. Std P Glass pf.. Std San M(1.68). staniey Co...... tewart-War(6) Stromberg (3).. Studetaker(5). Studebak pf(7). Submarine Boat. Sun Oil (g1) . Sun 01l pf(6) Superior O1l, Superior Steel. . Sweet of Am(1). Telautogrph(1). Tenn Copper(1). Texas Corpn(3). Tex Cor 50% pd. TexasGulfSul(4) Texas & Paci6). T&P C&O (b2%) . Tex Ld Trinew) Thatcher Mfg... The Fair(2.40) Third Avenue. .. Thomp J R(3.60) Thompson(rts).. Tidewater AsOIl TidWAsOIIpf(6) TidewatrO(80c) Tide W Oil pf(5) Timken Roll B.. Tobac Prod (8). Tobae Prod A(7) Transcont Oll. .. Trico Prod(2%) Truax Trar 1.60. Twin City RapT. Undwd-El F (4) Un Bag & Paper. Union Carb(8). Un O1l Cali2) Union Oil (rt: Union Pac(10).. Un Pacific pf(4) Unlon Tank(5).. Utd Biscuit 1.60, Utd Cigar St(1). Utd Cgr St pf(6) Utd Elec Coal... Utd Fruit(15%). 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 Hoffman (4). U S Alcohol (6). US Leather.... U S Leathr A(4) S Realty(4).. S Rubber. . S Rub 1st pf. S Smelt(3%).. SSmpf(3%). S Steel(7).... U S Steel pf(7).. U S Tobacco(3). Uni Pic 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).. 1 Va-Caro Chem. Va-CarCh 6%pf. Va-Car Ch pf(7) Va Ir Coal&C pf. Vulcan Detin. .. Wabash Wabash Waldorf(1%). Walworth(1.20). Ward Baking B. Warner Bros Pic Warner Bros pf. Warner-Qui(z2). . Warrn Bros (5) Warren F&Pipe. Web & Heil Wesson Oil W Penn E1A(7). 1 W Penn EI pf(6) West P Po pf(7) West DairyA (4) West Dairy B... West Maryland. West Md 2d pf. West Pacific. West Pacific pf West Union($) Westhse A B(2), Westinghse(4).. Westhse El rts Wheel & L E pf. White Eagle(2). White Mot(1)... White Rock (3). White Sew Mach Wilcox Ol & G.. Willys Ov c1.20. Wilson & Co. Wilson Copf A. Wilson & Co pf. Woolworth (6).. 2 Worthn Pump.. 5 Worth Pump(A) Wright Aero(2). Wrigey ((13%). Yale&Towne(4). Yellow Truck... YelI'r & Co pf.. Young Spring.. 57 0 Youngstn Sh(5). 112k 112% 112 11 Hourly Sales on N. ¥. Market. 10:30 a.m.. 648,900 1Zm... 1963000 1:30 p.m. 2,765,400 2:15 p.m 3,201,500 Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or half-yearly declaratic T Partly extra. 1 Plus 4% In stocks * Unit of trading less th $3 in preferred stock. a Paid this year—no regular rate. ¢ Plus 5% u u u u u u 64 2% Wall Street Briefs ‘The Ohio Copper Co. of Utah, Salt Lake City, is reported to have found encouraging signs of lead-silver ore in drilling on its properties in Bingham Canyon, Utah. Just above the 700-foot level. a 2-foot section of a drill hole showed silver-lead ore valued at $32 a ton, Wall street hear: The Illinois Steel Co., Chigago, sub- sidiary of the United States Steel Cor- poration, has added another blast fur- nace to its operations at Gary, Ind. Seventeen of its 27 furnaces in the dis- trict are now operating. Stocks of crude oil and oil products | in the Pacific Coast territory increased 2,340,332 barrels in December at 141,- 057,009. The increase for the year was 138,392 barrels. Copper buying, at the increased price of 17 cents a pound fixed last week, is reported good. The larger pro- o | ducers’ sales for the month are esti- 70% 2l% mated at nearly 150,000,000 pounds. oreatest in the history of the industry. The Norfolk Southern reports to the { Interstate Commerce Commission & to- tal net operating income for 1928 of -$1,545,608, against $1,718,132 in 1927, 5 |81 786,087 in 1926 and $1,508,456 /in 119%5. Net operating income 'in Decém- ber showed a falling off in comparison with the three other years. 4ethough 1928 was a typleally bad aglicultural year in North Carolina, Southgate Jones, president of North Carolina Joint Stock Land Bank, re- ports net carnings of $151.916, equiva- lent to $21.70 a share on the 7,000 $1,685 over 1927, , ! Brass shipments for January, market |, | observers say, promise to be one of the UTILITIES STRONG IN'STOCK TRADING Remainder of List Heavy. 0il .Group Shows Weak- ness in Selilng. BY GEORGE T. HUGHES. » | Special Dispatch to The Star. NEW YORK, January 29.—Strength | in the utilities, weakness in the oils | and irregularity elsewhere sums up the | day ‘in stocks. Call money was ad- vaneed from the renewal rate of 6 per ' cent to 7 per cent. | In the last quarter of an hour the | list rallied under the leadership of steel, 7| but most of the day the standard stocks, 5 such as General Motors, General Elec- | tric and Anaconda, ranged lower. Utilities in Demand. Public utilities moved as a group and | were in active demand from the start. Such typical stocks as Standard Gas & Electric, North American Common- wealth Power, American Power & Light, , | Louisville Gas & Electric and En- gineers’ Public Service all sold at new‘ highs for the year, and some of them at new highs for the present form of capitalization. Some of the buying may and some of it may have been for control, but it attracted a large fol- lowing from the trading element. The oils were weak. There was little su‘)port on the way down. Standard Oil of New York at 40 was down a point and a half, at a new 1929 low and at a point where it yielded ex- actly 4 per cent at the present div- idend rate, a generous return for a Standard Oll stock. Eight thousand shares came out at the opening half a point lower and the loss was in- creased later on. Phillips Petroleum and Texas Corporation made new lows for the year. The latter at 60 was seling on a 5 per cent yied basis. Among the general industrials recent favorites such as Air Reduction, U. S. Alcohol, National Cash Register and Coty were lower, although Coty started in at an advance. United States Steel moved errati- cally downward during the forenoon. The directors were to meet after the close of business for dividend action, but predictions of an extra or of a split-up were not as confident today as they had been. Rail Group. ‘The rails proved a great disappoint- ports nor the prospect of a more lenient attitude on the part of the Interstate Commerce Commission toward mergers had any effect. New York Central at 195 was down 4 points from the high of Monday. Baltimore & Ohio, which had a net operating income in December more than three times larger than that of the same month in 1927, moved through a narrow range. Penn- sylvania, the net of which for 1928 made a new high record, was steady. Motors and coppers were lower with- oit being weak. American Telephone & Telegraph at 213 was down 8 points from the high on Monday. The mail order stocks sold off, with new lows for the year in Montgomery Ward and Sears-Roebuck. Some. of the tobaccos did better, including Congress Cigar. i Pl GOLD PURCHASES. NEW YORK, January 29 (#).—A New York banking house today purchased $1,500,000 in gold from England, London advices reported. An unknown buyer obtained $2,400,000. A syndicate of New York bankers was reported to have purchased between $7,000,000 and $8,000,000 yesterday, but no confirmation of this could be ob- tained here. The steamship Aquitania arrives fo- day with $7,500,000 in gold purchased last week in London. The American Exchange Irving Trust Co. is receiving $5,000,000 and Speyer & Co. $2,500,000. Montagu Norman, governor of the Bank of England, also is arriving on the Aquitapia and will confer with Gov- ernor George L. Harrison of the New York Federal Reserve Bank and with other Federal Reserve officials. Heads Fuel Company. NEW YORK, January 29 (P).—Arthur Roeder, formerly vice president of the American Linseed Co., has been elected president of the Colorado Fuel & Iron Co. He succeeds J. F. Welborn, who becomes chairman of the board. U T i DIVIDENDS. Corporation. Per. Rate. Pay. Colorado Fuel & Iron pt Group Nol Hart, Schafii’r & X .. record. Stock of Q s2.00 — $100.00 Q _ $200 Loews, Inc:pt Q $163% Gas,. In g d056.50 cupi Q $1.82% Schen'tady Tr Stk 50, Sherwin Wms. 'Q s o b $150 Mar. i Fe .75 Feb. 1 Jan. don:r)nl(d’A' 1%% Feb. 1 Jan. V 0 C Molding - % for 1928 S st? ¥ for 1928 TREASURY CERTIFICATES. rted by J & W. Seligmen & Co.) RateMatuity. & % Offer. s Mar. 15, 1920 283 99 31-32 100 1-32 9920-32 99 22-32 9920-32 9922-32 9624-32 97 FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Selling checks Londen. pound Paris, franc. Brussels. belgs 12376 1052812 19231 ens, drachi Madrid, pesefa nna.” schilling enhage; 12667'2 crown’. 1286512 Stockholm, crown 2673'2 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Allis-Chalmers Co. 5s 1937.... Aluminum Co. Amer. 53 1952.. 929 Balto. & L Batavian t. Corp. §'as i Canay Nat. Rwy. 4128 1930. Canadian Nor. Rwy. 4'cs 1935 Chesa. & Ohio Rwy. 4.5 1930, Chicago Rock Isiand. 45 192: . Rwy. ds 1 . Corp. 55 194 Goodyear T. & R. 55 1957 Grand_Trunk Canada 6s ulf Oil of bs 193 Humble .93 1936. 1 Oil 514 3 Cent. Rwy. & Westors Eicsiele Go. S5 1044, 1 Westinghouse E. & M. 85 1946 Wheeling Steel Corp. 5% 1048. e A A. L. Leeds, formerly president of the Manhattan Shirt Co., has been elected chairman of the board. Jules C. Leeds, ;icet president, succeeds him as presi- ent. ‘The Gulf Oil Corporation has taken an option on land near Swectwater, have been for investment trust account | ment. Neither the good December re- | FINANCIAELE. Commodity Notes oil. SHREVEPORT, La., January 29.— The Standard Oil Co. of Louisiana has_reduced prices for crude as much as 32 cents a barrel for some grades and many excellent judges anticipate a general reduction owing to overpro- duction. Decrease in the last week’s production for the State was only 25 barrels. Packing House Products. CHICAGO.—The packing business is running on a normal level with few important price changes and demand fairly stable. Beef continues to sell slowly because of high prices. Live Stock. SAN FRANCISCO.—Cattlemen have purchased about 100,000 acres of graz- ing land in the last few months. This testifies as to the profits of the cattle industry. The transfers on which these figures are based do not include those for less than 1,000 acres. Metals. ST. PAUL.—Mining activities are in- creasing the prosperity of the North- west. Copper production is being specded up in Michigan and Montana districts with a huge amount of ex- ploration and development work in progress. Production of iron ore is in- creasing. Automobiles. DETROIT.—Applicants for jobs at the factory of the second largest pro- ducer will no longer be allowed to stand in lines all night because of the snow and sleet. Jobs are being given 300 daily with applicants far exceeding that number. Steel. PITTSBURGH, Pa.—Buying of freight cars by railroads is helping the steel trade of this district. If this continues, the demand for material to fill car orders will again form one of the standbys of the industry. B. & 0. STATEMENT SHOWS GAINS IN LAST YEAR|| Special Dispatch to The Star. BALTIMORE, January 29.—Prelimi- nary statement of the Baltimore & Ohio Railroad for the year 1928 shows a sub- stantial increase in net as compared to 1927, despite a decline in gross. This was due to economies effected by the management. Operating revenues for the 12 months ; totaled $236,818,681, a decline of $9,263,- 386, while net railway operating income was $49,387,716, a gain of $4,459,519 compared to year 1927. Although tirese figures are before additional income from other sources and before interest on fixed charges and income tax, they indicate earnings of upward of $11 per share on the common stock for the year. December railway operating revenues aggregated $18,814,183, an increase of $940,350, and net railway operating in- come amounted to $3,692,681, showing the substantial increase of $2,515,201 as compared to same month a year ago. NORFOLK & WESTERN. ROANOKE, Va., January 29 (#).—The monthly statement of the Norfolk & Western Railway for December as an- nounced today shows a net income of $3,159,130, which is almost a million dollars over the same period in 1927. December, 1927, registered $2,215,969. ‘The report showed that December's heavy traffic and low proportional operating expenses boosted the net in- come for the 12-month period to $30,- 727,043.43, approximately $75,000 greater than for 1927, despite a slump of $4,000,000 in operating revenue. Net income for 1927 was $30,651,295. Transvaal Gold Offering. NEW YORK, January 29 (#).—Spec- ulation is rife in Wall Street as to who will get the offering of about $6,000,000 or more in Transvaal gold in London this week. With the El'evllllns ex- change rate, the metal thought al- most surely to be destined for New York, but bankers have maintained strict silence as to their plans, if any. If the gold comes here, it will probably shipped on the Majestic, sailing Wednesday. U. S. TREASURY RECEIPTS. Treasury receipts for January 26 were $6,634,678.69; expenditures, $7,- 331,255.21; balance, $137,907,584.96. On Improved Property in Maryland and District of Columbia 6% Interest No Commission Charges WEAY_E.B_E_RO REALTORS 809 15th Street N.W. Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company Continental Trust Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Checques Collections Real Estate Loans Collateral Loans Investment Securities Corporate “rusts Individua! usts Administrator, Zxecutor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, President Tex., as a site for a proposed refinery 110% shares of capital paid in, an increase of | with a daily crude oil capacity of 5,000 barrels, Capital, $1,000,000.00 Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Li 1520 K Street Mai WE WILL BUY G. L. MILLER COMPANY STOCKS & CERTIFICATES MEHLMAN & COMPANY 31 Woodvard Bidg. 2 4 _— Opportunity for Right Man WANTED—By a_General Atcncy of one Oldest Old Line New York Life Insu: agency’ supervisors need apply. Stat cxperience In writing to Box 260 office. WE WILL BUY F. H. SMITH COMPANY STOCKS & BONDS MEHLMAN & COMPANY 901 Woodward Bldg. Main 8847 903 Main 317 THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares —represent a TRUSTEED INTEREST in 100 leading "American Corpora- tlons They are certain of paying DIVIDENDS, are MARKETABLE and. above a FE. Both DIVIDENDS and PRINCIPAL have an assurance of growth over a period of vears. The dividends for 1928 of these 100 corperations excceded TWO BILLION DOLLARS. | For Particulars and Price Call Standard Collateral Shares Corporation 83, Woodward Bld NASH Still “conveniently located on 14th street” and the same set slogan of “Satisfaction Plus” from smiling sales and service men. 1529 14th St. NW g Decatur 3320 : 3 i i ; RESPECTABILITY There is no better way to express 1espectanle prosperity than by a well chosen nstall- ment of OFFICE FURNITURE latest developments are on display it off ectios 9000000000 000000000 The very in office w: in_our showroom: o stock of offic CAMPBELL COMPANY Two Entrances 1018 15th St. N.W. 1506 L St. N.W. Franklin 5660 0900000000000 000000000000000: 00000000000000000000000000000000000000000000006 || We Will Lend You Money In Any Amount At 5 y2 % Interest For Periods of 3,5 or 10 Years In Nearby Meryland, Virginia and the District of Columbia Apartments, Residences or Business Properties BOSS=2PHELPS unded 1907 1417 K St. Main 9300 Loan Correspondent John Hancock Mutual Life Insurance Co. Unquestioned Safety for the Inexperienced Investor Even the man who carefully studies in- vestments may make a mistake when he goes into the market; and mistakes may be very costly. Yet the most inexperienced investor may confidently buy our 6% First Mortgage Notes, certain that the principal is safe and interest will be paid promptly on specified dates. Both are un- conditionally ~ guaran- teed by this strong com] ny. Booklet with full informe= tion on request.