Evening Star Newspaper, January 31, 1929, Page 15

FINANCTAL NEWBONDSOFFER S QUEKLY TAKEN Alleghany Corporation Issue Is Heavily Oversubscribed on Exchange. | Argentine 5s, . BY CHARLES F. SPEARE. Special Dispateh to The Star, NEW YORK, January 31—It is a long time since any new bond has had an immediate advance of such size as that of the Alleghany Corporation 15-year collateral trust convertible 5s, offered_today at par. Listed on the stock exchange at the opening. they started at 10815, rose to 1101, and then reccted moderately ‘The issue was heavily oversubsecribed. Part of the rise in the price subsequent 1o the closing of the books was due tb the buying by -dealers to fill orders. Some of the collateral underlying the bonds was benefited by the rise during the day in railroad shares. The conversion privilege entitles the | 59! holder of the bonds to exchange into scven shares of the corporation’s 517 per cent preferred stock, which is com- puted at its par value of $100 a share, and into ten shares of ccmmon stock valued at 330 a share. The assets of the corporation are nearly four times the amount of the bond issue. { The incident emphasizes the necessity faced by borrowers at the present time of setting up their bond issues in a form that gives the buyer some speculative possibilities. The success of the Alle- ghany corporation convertibles is in g%mmt wéth su"inigt‘lltu murtfage bond eringy also made this week. The olér convertibles held the center of the stage again today. International Telephone 4';s were turned over in large amoudts around 119 and Public Service of New Jersey 4!>s went even higher than ever. Anaconda Copper s rose 2% points. ‘There was a sharp advance in Ulster and Delaware 5s, with the certificates of deposit at one time quoted 6'2 points over the undeposited bonds. St. Paul adjustments were active and higher. The 7 per cent rate for cal operated against some of the {ssues. Liberty 31:s droj ‘money | I h (Satas are 22 FOR Argentine §s Ju Argeutine May Argentine Argentine6s B Australia 4%s Australia 551955 Australia 63 1957 tria oo nk of (*hile f14 % Bolivia 7s. livia 83 Bordeaux 6. Brazil 6%3 1926 Brazil 6%s 1927 Brazil 7s. Brazil 8s. Bremen State 7s... Canada bs 1931 Colombia 6s Ja Con Pow Japan Cuba 5%s. . Czecho 8s 195 Danish Munic 8s B. Denmark 438 Mch b DE15%s Nov 53,, Dutch East 1 6s 62., El Salvador 8548, Fiat 7s x war Finland 53s. Finland s f 63 Finland 7 T Tt French 7 French 7% ped v 99 and the first “,Qp sold at par. A few of the legal 4 per cent rails were fractionally lower. In the foreign list a decline of 22 ts oc- _curred in the Pirelli convertible 7s, with continued strength in French and Bel- ‘glan issues. Maryland & Pennsylvania. BALTIMORE, January 31 (Special).— ting revenues of the Maryland & lvania - Railroad Co. for the 12 ending December 31, 1928, to- ;taled $881,588.66, a decline of $65,- 535.39 a8 compared to 1927. Net rallway operating ihcome for the ogflbd $177,901.93, a falling off of ,606.55, compared to the previous 12 monthsa 5 - Net raflway operating income in De- cember showed an increase despite a decrease in gross. Total operating reve- nues amounted to $67,879.39, a decline of §1 , as compared to the same mont year, while net railway oper- was $11,436.93, a gain of ORK, January 31 (P).—The for $2,000,000 for “ protection of 3, rk and Seal Co. Baltimore, | b0 000 at 89%. : ion €0.—5 at 108%, 5 at ) at lM&éA tric 515 % pid.—5 at 10815. on Gas Light—5-at 125, 20 at kRt 125, n Rwy. & Elec. pfd.—10 at 993, 10 at 9912, 20 at 991%. Bank—6 at 574. . ‘Sand & Gravel pfd.—10 at can Co. com.—10 at 55, onotype—20 at 122, 10 at 123, J2, 20 at 1217%. r Linctype—1 at 104. AFTER CALL. tric 512 % pfd—5 at 108%. #n Gas Light—25 at 135, ag Blectric Cons. 55—81,000 at 102:4- idn Gas 55—$2,500 at 101%, 08t 1017, - Bid and Asked Prices. BONDS. [PUBLIC UTILITY. Telga. 4% Wash: £ Ei ‘ash. Rwy. . A Wash. Rwy. & Eiec. sen. 6 MISCELLANEOUS. Barh STOCKS. PUBLIC UTILITY. Amer.' Tel. & Telga Gepital Traction n iteamboat lec. 8 D Blec. 5127 D Rwy, & Flec. com Wash, Rwy. & Elec. ptd NATIONAL BANK. National Oapital s lumbis . Commercial District Gincoln | Gt ational Metropolitan. Rigas g Nationsl Bark of Washington TRUST COMPANIES. American Security & Trust Co. 470 Oontinental Trust. sennne . 135 Merchants' Bank . Nationa] Savings & Trust. Tnion Trust ey Washington Loan & Trust SAVINGS BANK. Bank of Bethesda. Commerce & Savirgs. Washington.... vin Sevanth Street nited States. Washington Mechanics' FIRE INPURANCE. &S & Com’ o TITLE INSURANCE Col 18 Title e SouiPBitate Tiie Title & lnv. Co of Md. col Wash. Cons. Title ptd.... . MISCELLANEOUS. Barber & Ross. Inc., com. . Chevy Chase Dairy pfd. Chesinut. ¥arms Dairy com Chestnut Farms Dairy pfd. Sand & Gravel pid Lan: 0} Meren. Trang Merchan 5 3 Mergenthaler Linotype.. National Mtge. & Inv. b Peoples Druz Stores pfd Security " 8torage & Ter. Ref. & Whrs. Corp Wash. Conv. Hall pfd German 7 Ger Am Bank Marseille 6s. Mexico ¢s 04 asntd. Mexico 4s '10 asnt., . Mexico 5s asntd Milan 6348, Netherlands 194 Norway 6348 1953. . Orient Dev,dob 6@ . Paris-Ly-Med 6s Pa L7 Q ud 6s. Queensland 7s Rhinelbe Un 7..... RhineWst EP 65'52 RhineWst EP 68’53 RhitleWs{ EP 78’50 Rjo de Janeii Rio de 1 Toho E! Pow 7 Tok Tokio 63 s 1961. Utd Kingm 5%s 29, Utd Kingm 6%s & U1d SteamCopen Utuguay 8s. Vienna 6s Yokohama 6s w 1. Abrama&Straus 5%a AmAgriuhem An Smité& R1st 5 Am Sugar Ref 6s. AmT&Tcltr 4 AmT&Tcltrbs. AmT&Tslbs.... Am Tel & Tel 5%s Am Water Wks bs. Am Wrtg Pap 68'47 Anaconda 1st . Anaconda ev db 7s. Armour&Co4%s 39 Barnsdl 6s w Bell Tel Pa5s B Bell Tel Pa 5s C, . Bethlehm Stl pm 5s Beth Steel 5% 63. . Bethlehem Steel 6: Skiyn Edison 5s. Bush Term Bldg 5: Certain-Td5 %srcts Chile Copper bs. | Colon O1l 65 '38 Col Gas&EI deb § ConGasN ¥ 53%s., . Consumers Pow b1 Cuba Cane cv 7s. Cuba Cane 8s...... Cuban Am Sug 8s. Denver Gas bs. Dery (D G) 75... Dodge 6s. ... Dugquesne 4 %3, East Cuba Sré %8 Fisk R .4]1':5.3.5‘. Ahalt 68 36, 3en Mlble 55847, (#% Mot Ac Cor 6s. Goodrich 6%5 Goodyear 58 r Hoe & Co 6348. . Humble O & K 5is. Iliinols Beli 1st 5s.. Inland Sti 4% 78, Intl Cement 55 48 [ntl Match 55 47 Int Mer Marine 6s. . int Paper b8 47.... Inter Paper int Tel&Teleg 4%s. Int Pel&Tel 4355 cv Kan City P & L 58.. Laclede G 5%s 52. . Liggett & Myers Loew's Inc 6s Loew's 63 w o Lorillard 5s. Lorillard 3%s. ManatiSug st 7% Mid-Con 6%s 40. Midvale Steel 55, Mont Pow 55 43 NYGELH&P 4x NYGELH&PbS Y Tel 4%s Y Tel 65 41 Sales. 31 2 Det o 1 37 108K 108% 108% roit Edison 6s. 1759 104 Ip $:.000.0 High. Low Close 992 9830 9830 10038 100 100 3 1006 1005 1005 97256 9725 9725 9728 9726 9726 10210 1027 10210 1057 1086 105 7 11011 1106 11011 EIGN. 9115, 91% 9lls 004 100% 100% 100 100% 4 100 100% 98! 1 ] 100 93% 95% & 100 108 101% 4 100% 104% 100 93 934 i 102 S8k 89 981 1025 110% 3 1094 -B915 104% 102% 1084 103% 110% 98% 950 957 100 108'% 1018 100% 105% 100% 93 94 102 39 89 98% 102% 110% 109% 89y 1044 1026 10342 103% 110% 984, 904 97 1004 105% 108% 114 107% 8% 101 100 100% 96ty a7 948, 2% 101% 1004 994 211 20% 33 90 100 91% 945 1021 96% 100% 100% 1025% 102% 102% 1025 103%:103% 96% 9T% 100% 100% l:g": 103% 8844 89 89 102% 102% 147% 148 82 82 81 9T 3 94k 10 92% 44 101% 6-100% 4 99% 10 21% 5 20% 20% 15 33% 33 42 90 89% 12 1001 100 T 94K 9% 101% 992 998, 21% 15 97% 2°106% 5-106% 1 104% 5 110% 3 104% T 92% 16 94% .26 118 117%°117% 103 108% 2 109% 13 87 8% 8T% 3 9% 95 95 MISCELLANEOUS. 13 116 118 [ Alleghany cv bs w 1.1997110% 107 12°106% 106 28 94 94 10°101% 100% 101 23 104% 104 104 T 99% 99% 99% 23 108% 103% 103% 7 1056 1045 104% 33 106% 106 106% 4 98% 984 9Bl 6 831, 83 83 15 105% 105 , 105 37 202 196% 201 12 92 9l% 91% 11 91l 91k 91% 3 1025 10215 102% b T T4 TeN 2 9% 99% 99% 4 105% 105% 105% 1 107% 107% 107% 4101 100% 100 8 103% 103' 103% 82 105 104% 1047% 10 104% 104% 104% 2 103% 103% 103% 10 T9% 79% T9% 18 95% 93% 954 37 112 11 11 29 99% 99% 99T 18 1054 105 103, I 2 108% 103% q‘i‘ 16 76,8 o .18 -!-h 100 o .g‘ 100% 100% 73 3 103% 103% 2 100% 100% 100% 1 93% 93% 93% 2 114% 114% 114% 1107 107 6 99% 99 3 s 103 3 5108 107% 108 41 93 9208 2 87 87 8 6 101% 101% 101% 3 104% 104% 1044 9 924 92% 923 60 115% 114!5 115% 39 984 98 984 40 935 928, 898 119% 118% 119% 1 104% 104% 104% 817 87% 5 99% 99 99 1105 106 106 2 BTh 87% THE EVENING STAR, WASHINGTON. D. 0, THURSDAY, JANUARY 31, 1929.° N Y Tel 6s49... North Am Edis 5s. NoAm Ed 5%s°63 Nor Ohfo Tr & L 6s. Nor States Pow 53, Pacific Gas & El 63, PacT & T 18t 58 PacT& T bs 62 . Pan-Amer-Pete 6s. Pan-Amer Pete 7s.. Paramount 6s 1947. Pathe Exchange 7s. Bales. High. Low. Close. | ppi1a'Co 58 67 w 1. . Phila&ReadC&I bs. Philips Petro 5%s. Plerce-Arrow 8s, Plerce Oil aeb 8s. ot | Eor Ric Am Tob Postal Tel & C 5%s. Pressd Steel Car 58 Public Service 4%s. Punta Alegre 7s.... Rem Rnd 6%s war. Sinclair Ol 63s... Sinelair D11 7s. r Crude Skelly O11 5%s. South Bell Tel . Southwest Bell 5s. . Stand Ol N J 5s 46. 1 SugarEstOriente7s. Tenn Copper 6s '41. ‘Transcontl Ol 6%s United Drug 58 53.. . U S Rub 1strf bs US Rub 7%s... U S 8teel s f bs. Utah Pow & Lt bs Utilities Powr 534s. Vertientes Sug 7 Warner Sug 7s Warner Sug 7s ¢ West Elec bs Westn Union Westinzhouse 53 White Eagle O 5%8s Willys-Ov 6%s 33 Wiison & Co 1st WinRepeatAr 1 %8. Yngstn S&T s wi. Received by Private Wire Direct to The Star Ofies UNITED STATES. . High. Low. Close. 110% 110 110% 102 101% 102 101% 101 101% 101% 1011 101% 10112 100% 101% 101% 1013 101% 102% 102% 102% 104% 104% 104% 104% 104 104 104% 104% 104% 100 99% 99% 81 9915 92 92% 92" 9% 107 107 106 106 101% 101% | 93% 93% 96% 96% 2024 2025 56 87 944 101% 101 101% ¢ 2 108 102 102% 97 96% 96% 98 92 92 108% 103'% 108% 106 104% 105 102% 102% 1025 | 96 94% 96 106 106 100% 100 96% 96% 96 9214 9 101% 102 108% 108 1081, 997 99% 981 97 94 91 85% 854 85% 106% 106 1064 | 103% 103% 1034 | 2103 103 103 105 104% 105 102 101 101 101% 101% 101% 103 1024 102% 107% 107% 107% 100% 100 100 * 8lia 994 92% 93 107 106 16 RAILROAD. Atchison ad] ¥ Atchison gen ¢ B & O Gold 4s. B&Ocvel B &Oret b B&O1st B&Orfimpés B&OPLEWY B &OSWss 50 B & O Toleao 4 Boston & Maine Brdway&7th Av Brooklyn BElec 6 Brooklyn Elev ¢ Bklyn Mannat & Bush Term con bi Can Nat 414830.... Can Nat 438 57. Canad North 8% Canad North Canad Pac del Can Pac ¢ % CarClinch & O 5s.. Car Clinch&O 6s 52 Central of Ga Central Pacific Cent Pac 1st 58 9 Chesa Corp bs w 1., Ches & O gn ¢%s... Chi & Alton 3%s... ChI&E 111 gn bs 51.. Chi Gt West 43 59.. ChiM&StP41%5C89, Chi M&StP 4%s E. ChiMiISP&Pachs?s, Chi& NW gen 4s.,. Chi NW 4%s 2037.. Chi & NW ref 5s... Chi& NW 6%s, Chi Rys bs. ChiRI&Prt¢ CR1Pacelgawi. ChiStPM&O 5s sta, Chi T H inc s 60 Ch) Un Sta 4%s Chi Union Sta 5 Chi Union Sta 6%4s. Chi & W Ind cn 4s., Cuba R R bs. Suba R R 7% Cuba Nor 5%s cts, Del & Hud 5%S. .40 Del & Hud 7s 30 Den & R0 G cn 48, D Rio G West § DRG & Wst §s'78 DesM &Ft D ds... Des M & FtD 4s cfs. Det United 4%2S.... Erie 15t cons 48.... Erie Gen 4s Fonda J&G 4338'52. Gr Trunk stdb Great North 58 Great North 5%s Great Nor gen 7s. 11-C-C-StL&NO 5s. Int Rapid Tran 6s.. ‘Int Rap Tr §s stpd. Int Rapid Tran 6s.. Int&GtNor adj IntRysC A 58 Int Ry C Am Int Ry CA 6% Iowa Cent rf 4s. Iowa Cent 1st 5 Kan City Ft S 4s... Kansas City S73s... Kansas City S 58 LehighVal con 4%s Long Is deb 5s 34. . L &N 4%52003. .. Louis & Nash 58 B. Louis & Nash 7. Man Ry 15t 4890, .. Market St 78 40.... MilEl Ry & L 58 61 Minn & StL ref 4s.. Minn&StL fd 5s 62. M StP & SSM 6% MK &Tad) 58, A MK &Tprig gt Mo Pacifigf e Mo Pagfyps 7, Noeinc 55 6 ~assau El 45 51 NatRyofMex 4s 7 NRM 4% '57 asst.. NYC&StL6s NY Sus&Wn gen New Haven 33;s 56. NYNH&H4s56. NY NH&H db 48 57, NYNH&H4%s NY NH&H cvdb NY NH&H clt 6s. N Y Rys6s65. NY Rys6s A65,.. N Y State Ry 434s. . NYStateRy 6%8 62. Norfolk & W cn 4s. Nor Pac 38 2047, Northern Pacifie Northern Pacr | 6s. Ore Wash 1st 4 Pennsyl gen 4%48. . Penna R R 4% Pennsyl gen 58 Pennsyl 58 64. Pennsy) 6%s Pennsy) gold 7 11 100 99% 100 4102 102 102 2 87% 87% 87w T4 96% 96 1 80 80 & 8104 104 104 8 106% 106% 106% 11147 114% 111% 1 93 93 98 5 106'% 106% 106% 3 100% 100% 100% NewEnglandTel &s. N'Y Edison 61%S... 8 106% 106% 106% StL&SFplesA., 18 N Peoria & E fnc PCC&StLESA.. PCC&SLL 58 B 76. . Portland EI P L s, Port RL&P b8 42 PortRL P 6 Reading gen 4148 A Rio G West cl 4s,.. P|RIATK& L 4%s StLIM&S 4s20... St L IM&S R&G ds. CMSP&Pacad)5s03. 422 14 28 87 88 87 21 924 92 2% 1 92% 92 92 42 93% 98 8% 12 1017% 101% 101% 10 104 104 Y04 13 109% 108% 108% 19 934 93% 102 58% 98 ®98 984 984 984 89% 99% 99% 954 95 9b% 116% 116% 1164 112% 112% 112% 3 bila Bik 96% 96k 100 100 100 108% 107% 107% 100 100 ° 100 90% 90% 90% 102% 102% 102% 100 99% 99% 96% 96% 96% 1 69 69 69 18 824 82 82 4L 69% 63% 10 95 3 94 22 SkamCounmEn NSenwo~a 40 9% 90% 90k 90 96% 964 964 104% 104'3 104% H1 T M 814y 814 8l% % 94 94 e 914k 91k 98l 984 P34 o1k 9% 91% 9% 99 9% 108 202 1024 8% 87% 874 103% 103% 108% 9644 9644 9644 180% 100 100 95% - 95% 95% 94 94 94 102% 102% 102% 90 89 90 104% 104 104% 101% 101% “101% 90t B0% 90N 95% 984 96 91% 91% Yl 39% 38 - 39% st 82 32 gr. 97 97 85% 854 8bls i T 18 4 5 6 2 L 9 2 5 1 10 6 1 3 1 1 2 2 7 3 @ e Sor BenBIRuBmumRwNERs - 105% 102% 1028 102% 108% 108% 108% 12 1114 111% 99 99" 99 83% 83% 83 97 " 9T 9T 99 ¢ 99 99 102% 102% 102% T8y T8I USRIV - JOPUPU PR e = 97 i 97% 7 104% 104 1 1024 102, 28 T4, & 5 3 105~ i00u 1004 o0 Mk 23w 2Lz T 114 1100 99% 99% 6 104% 104% 104% 1101 101 101 L 5% T3 75% 5 v9 22 194 3 1 18 wor & o P e DY 2T n 2 1 ‘e 11 11 6 3 4 3 99 9% 86% 86 864 115% 116% 115% | g 1 | pointed type, 1.75a2.0f light, market. stea MARINE PRODUCTS PLENTIFUL IN'D. €. Various Kinds of Fish on Dis- play at Market—0ysters Higher. Cold weather the past few days caused no material decrease in receipts of fish at ‘Municipal Fish Market, dealers re- ported, and market conditions were all that dealers could desire. It is true that heavy as they probably will be just after the close of the Winter season, but_they were heavy enough to enable dealers to meet demands at prevailing prices. Oysters have not been so plentiful this week, and higher pric for shell stock resulted, the price of Potomac River oysters advancing to $2.50 a bushel. No increase in the price of shucked stock was reported, but dealers predicted higher prices in the near fu- ture. “There are two reasons for the short- age in receipts of oysters,” observed a dealer this morning. “One ‘is that oystermen have not been out in such the- oysters are scarce.” supplies from North Carolina shippers and are in demand at $1.50 per 100. Scallops are plentiful at $4 a gallon, while crab meat is scarce at 75 cents a pound, having sold as low as 40 cents only a few days ago. Dealers had plenty green shrimp on hand from Florida this morning that found ready sale at 25 cents a pound, the cooked shrimp selling at 60 cents. Lobsters, received from Boston shippers, were scarce at 75 cents a pound. Yellow pike and white fish from the Great Lakes were offered at 30 cents, while pickerel from the same waters brought 25 cents a pound. Halibut and salmon, received from the Pacific Coast, were offered the trade at 25 cents. Fresh fillet of haddock was quoted at 30 cents, the frozen fillet selling at 20 ; | cents, Whole haddock, frozen, sold as | low as 15 cents a und. Frozen Boston mackerel and pollock were offered at 15 and cod at 20 cents a pound. Only a few fish from the Potomac River were to be had by retailers this morning. They included sand perch and catfish at 10, yellow perch at 15 and carp at 25 cents a pound. A few herring from North Carolina waters were of- fered at 12!5 cents a pound. Florida shippers supplied buck shad at 35 and roe shad at 40 cents a pound. Jumping mullets and kingfish, also from Florida, were offered at 15 and Spanish mackerel at 18 cents a Eound. Another increase in the price of but- ter was reported this morning, and the egg market continued firm. Prices of practically all other commodities were the same as prices quoted yesterday. Business this morning was not very active, merchants reported, partly due, they believe, to the low temperature, Today's Wholesale Prices—Jobbers' Prices Slightly Higher. Butter—One-pound prints, 51a52; tub, 50a51; store packed, 30a35. Eggs—Hennery, 40a42; fresh, selected, 38a40; current receipts, 37a38; storage, 30832, ) Poultry, alive—Turkeys, 36a37; Spring chickens, 35a36; Leghn owls, geese, ms, 3| 28a30; roosters, 19a20; ducks, 25: 0a60; old, 30. Dressed eats, vl& 24a28; lamb, 30; pork loins, 20; fresh hams, 21a22; fresh shoulders, 16; smoked hams, 25; smoked shoulders, 16; bacon, 3’«;2; lard in tins, 13; in pack- ages, 13%, ‘Elve stock—Calves, 17a17!2; lambs, 13al4. Fruit and Vegetable Review. The dally market report on fruits and vegetables (compiled by the Market News Service Bureau of Agricultural Economics) says: Sales to jobbers except where other- wise noted. Apples—Supplies moderate; demand light, market steady. Barrels: Few sales, ‘Washington, medium to large size, ex- , Staymans, 2.50a2.65. 3.25a3.50. Bushel baskets: Vir- ik 1, 21, inches up, Stay- mans, 1.65a1.85; U, S. No. 2, 212 inches up, Grimes, 135a1.40; Pennsylvania, U. 8. No. 1, 2!2 inches up, Black Twigs, 1.60a1.65. Cabbage—Supplies liberal; demand light, market slightly weaker. New stock: Florida, 1J5-bushel hampers, South Carolina, barrel crates, pointed type, poor quality and condition soft, 1.50a1.75. Old stock: New Yorks, sacked, per hundredweight, Danish type; 2.75a3.00. ,Celery—supplles ugwnifi :lemsn" light, market about steady. Florida,nd inch’ crates, individually washe? pre-cooled, 4-6 dozen, 3.0083.68upplies Lettuce — Western stock ket steady. moderate; demand light, 4-5 dozen, Arizona, crates, IcebeTgtion. 3.0083.50; fair _quality and /“Qalley, crates, Ice- California, ImMpggzen, 4.00a4.35, mostly berg type, 4-f " stock: Supplies light; el z_\ll:\,, market dull; Florida, 1}5- ympers, Big Boston 3 bushefair '&’fi:my and condi 58 bufihel b:akeud,m)zlg %oslnn type, uality and cons n, 75¢. rflom—’sup lies moderate; demand ightly weaker; Michigan , 100-pound sacks, yellows, U. S potatods Supplies moderate; demand o upplies m 3 Con : Pennsylvania, 150- und sacks, round whites, U. 8. No. 1, .25; New York, 150-pound sacks, round whites, U. S. No. 1, 2.35a2. fair 2.25. Spinach—Supplies moderate; demand light, market dull; Texas, bushel bas- kets, savoy type, 90a1.00; poorer, low as 75. Tomatoes—Supplies ht; demand light, market firm; originals, Florida, sixes, ripes and turning, wrapped, fancy count, -3.0083.50; repacked, unknown origin, sixes, ripes, wrapped, fancy count, 4.5084.75. ir Ol receipts this week have not been as: large numbers and the other being that | Clams are being received in plentiful | Pennsylvania, U. 8. No. 1, 2}, inches! {up, Yorks, scalded, 3.75a4.00. Boxes: i-|and are content to ignore the erxfes 1 BY KENNETH S. VAN STRUM. NEW YORK, January 31.—It is diffi- cult to estimate the future of the stock market with any great precision, be- cause it is not a problem of facts and figures alone. A most important factor influencing the market at all times is the personal equation or the psychqlogy of the great group of investors, each with his own personal reason for buy- ing or selling attempting to read into the future of the market must take the fancies and consideration. Few facts are available t5 help the day-to-day trader. It is known, how- | ever, that on certain days of the week buying is usually more aggressive than on other days. Normal Tendencies. The following table, based on the movements of the market during the past six months, shows what percentage of the time stocks usually rose or de- clined on the different days. It should be remembered that during this particu- lar period the market as a whole was | rising very rapidly, so that it is natural o expect a majority of the days to show a rising tendency. ~As a matter of fact, the market rose 60 per cent of the days and declined 40 per cent. Rise. Decline. Perct. Perct. 57 43 Mondays . | Tuesdays Wednesdays ..... Thursdays Fridays ... Saturdays .... Average ‘The most significant point brought out is the great tendency for stocks to ris2 on Thursdays and Fridays. The table as a whole leads 6ne to presume that under ordinary circumstances an average week opened with most traders in an optimistic frame of mind, but somewhat restrained in their bullish- ness. This continues and even grows HOURLY STOCK PRICES somewhat on Tuesday and Wednesday, but on Thursday there is a pronounced tendency for stocks to rise. On this day the market rose in almost four cases out TR Friday the buying kept s a rule, on Friday the ep! well above the average, but on snn{urdly there was usually a decided change of sentiment. The market often showed heavy selling. On Saturdays only 36 zwr cent of the time stocks rose, while hey fell 64 per cent of the time. e such a study as this fails to fit a large number of cases where un- foreseen developments upset the normal situation, at the same time it is im- portant to know that if news davelgg- ments are favorable the market has the best chance to rise on Thus and Fridays, and that there will ly be heavy profit-taking on Saturdays. Equilibrium. Both the industrials and the rails have been trying since the middle of November to reach new high levels, but on the whole no real progress has been made. As is always the case in such a situation, individual issues have been forced forward beyond their November highs, but at the same time so many stocks are now lower that general ave: age has made no advance over the N vember figure. This signifies that bull~ ish sentiment is today at an equilibrium with bearish sentiment. It is so difficult in such times to esti- mate the probable future of the market that most_experienced traders exercise caution. They are especially careful to cut down speculative commitments until stocks either rise or fall from nt levels. The market itself will give the trader his next cue and it is hopeless to nri:e with prices. the meantime such worries are of purchased investment stocks outfl:hf | trend of prices in holding their * for the long .pull. * (Copyright, 1929.). Ty _dsiness. Buys Gasohxry 31 (P)~The NEW YORK, Jt Ohio has ured | Standard Oil (gasoline busll‘l::l of the wholsfldle, ‘Wheeling, W. Va. Spears & * e L nch S ~AF TOBACCO REPORT. «he Census Bureau's report on leaf Lobacco today showed 1,750,088,796 pounds held January 1 by manufac- turers and dealers, as compared with 1,922,743,058 on January 1, 1928, Unstemmed tobacco held by manu- facturers and dealers totaled 1,529, 364,354 pounds, compared with 1,718, 993,781 pounds held on January 1, 1928. Stemmed tobacco totaled 220, pounds, compared with 205,749,278 in 1928. Chewing and smoking snuff and export types totaled 1.373,636,640 ?g;l:d&. compared with 1,519,935,181 in pepper crates, fancy, 4.00a4.50; choice, 3.50a4.00. b demand l-‘{l’phnt—supphes light; light, market about steady: Florida, peppeér crates, fancy, 5.0025.50. juash—Supplies very light; demand light, market steady; Flori omper crates, fancy, white, wrapped, 5. .50, Cucumbers—No supplies on market. Strawberries—Supplies light; demand light, market steady: Florida, 32-quart crates, various varieties, 30a35 per quart: pony refrigerators, various va- rieties, mostly around 35 per quart. Cauliflower—Supplies liberal; demand light, market steady; California, pony crntfi),ol.scal,fi, mostly 1.75, few high as 2.00. Carrots—Supplies moderate; demand light, market steady; Texas, bushel bas- String heans—Supplies light; demand light, market about steady; Florida, - bushel hampers, green, 4.00a4.50; Wax, 2.50a3.50. Peppers—Supplies moderate; demand light, market slightly weake: Flofldn». Sales. High. Low. Close. StL&SFr4%s78. 76 83 874% 87% StL&SFprinbs. 19 StLSWecon4saz, 1 StL & Sown 58 '52.. 20 Seaboard AL 4ssta. 1 Seab A L ref 4s. 2 SeabAL ad) 55 1949. 27 Seab A L con 6s.... 24 SBAIIFla6s35A. SB All Fla 65 35 B Sou Pac 48 29. Sou Pacclt 4s. . © » wRaNNo e~ Sou Ry 6%4S. . Tex & Pac 5B 1977 Thira Ave ref 4s 60. Tol Tr L&P 51%s 30. X< Ulstré&Del Union Pac oo Union Pac 1st rf 4s. Union Pacific 4s 68. Union Pac 4%s 67 ‘Whash 4%s 78 rets. Wabash 875.... West Maryland 4s.. Western Pacific 5s. West Shore 45 2361 Wilks-B & E) 1st 5s WisCen gn 48 4.0 Sum—Caotixnoe few fancy, 4.00a4.25; No. 2, 2.50a3.25. 4 % | London, pound d P:Hlv kets bunched, 2.25a2.50; Western let- tuce, crates, 3.25a3.50; California, West- ern lettuce, crates, bunched, 3.5023.75. Beets—Supplies light; demand light, market steady; Texas, bushel baskets, bunched, 2.50. Oranges—Supplies moderate; demana light, market steady; Florida, boxes, No. 1, large size, 4.00a4.25; small size, 2.50a3.00. Grapefruit—Supplies moderate; de- mand light, market steady; Florida, boxes, No. 1, medium size, 3.50a3.75; Peas—Supplies light; demand ht, market dull; Mexico, 45-pound crates, 5.75a6.00. c‘fiu. (T ted b: & W. Seligman & T A 3 3 Ma 99 28-33 3%s Mar. 99 27 2 99 31-32 100 1-32 no concern to the investors who have. 99 21-32 33 86 % -83 96 24-33 0-32 FOREIGN EXCHANGE. (Quotations furnished by W. B, Hibbs & Co.) Nominal rold Selling checks value (or par). 5 §4.4885 u.ufl{ trne 193 K Prague, crown (nom.).. Warsaw, zloty.. Gopennagen. cro slo, crown. ... Stockholm, crown. FURTHER PURCHASES OF GOLD ‘BY U. S. BANKS ARE EXPE Special Dispatch to The Star. NEW YORK, January 31.—Although there is but a small profit in the trans- action, American banking houses are e ted to continue their purchases of gold in the English market and to bring the metal to New York as an exchange transaction, where it helps to ease the present strained money situation. Since last August about $80,000,000 has been taken away from the 'juris- diction of the Bank of England by New York bankers and the bank has lost to all markets $125,000,000 in the past five months. is creates a ‘serious situ- ation in England, and is believed to be the basis of the visit here of Montague Norman, the governor of the Engl ttle or much. Any one | pank. In order to protect their gold Eng- 1 bankers must raise their rates of ish the foibles of the buying public into |discount, which they aze not inclined to do on account of the effect of higher money on the d?;ruu‘ British indus- trial mu:onob:. 1 tim® goes ;m thle;e appears ess prospect of an ad- vgm in the Federal reserve discount rate. Some of the largest banking in- stitutions in New York, after a careful — e e e Plans Baltimore Plants. BALTIMORE, January 31 (Special) The Aslatic Petroleum Co. of New York is building several additional units to its Baltimore plant, at Fairfield. The work, which will _cost approximately $168,000, includes five oil tanks and an addition to the boiler and pumphouse. Three of the tanks will be 117 fee in diameter and 41 feet high, one 95 by 29 feet and another 70 by 29 feet, The concern is a subsidiary of the Royal Dutch Shell Syndicate and is erecting the plant at ‘a cost of approximately $1,000,000. U. S. TREASURY RECEIPTS. ‘Treasury receipts for January 29 were $5,018,724.40; expenditures, $6,571,- 693.59; balance, $134,062,322.90. . GERMAN BONDS AND STOCKS. Special Dispatch to The Star. NEW YORK, January 814—;‘ & oug 2o et Jogn gt avw ', r Red Loan without *:' s, 1.000 2" doliar 191 Asked. 60.00 Ta BonenBS83888ES et antEs” S lin 4s_pre.wa Hamburg 3, %28 amburg American Line lorth German T $3333283338388 58233382833 3 Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares —represent a in 100 _leading tions _They a USTEED 13 American 7 gk ve an assi D of a1l SAFE. For Particulars and Py’ ; Standard Cglution - Shares Ce' wonsult Us First If you need money for your Real Estate financing iet us have your application today. Prompt Service No Appraisal Fee The Commercial National Company Incorporated Paid up Cash Capital. §900,000 On Imgroved Property in Maryland and District of Columbie 6% Interest No Commission Charges WEA\LER BROS' REALTORS 809 15¢th Street N.W. Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company Insuranshares | Trust Certificates 1928 Results Reflect Exceptional Management With Appreciation Ranging Up to 72% and Cash Distribution Up to 7% Details Upon Request COLSTON, HEALD & TRALL Thomas Hopkins, Jr., Mgr. Washington Office 912 Woodward Building Metropolitan 5234 FINANCIAL. CTED survey of the money outlook, have come to the conclusion that the greatest strain has been that call money will be s ing the rest of the Winter around 8 per cent. It is on this basis that they have taken a more confident position on the bond market. Since the last report on brokers’ loans was lssued the stock market has had an average advance of 2 to 4 points. According to rule, brokers’ loans should show another increase tomarrow. There are so many cross currents in this situ- st & 2nd TRUST MONEY homes, apartment Real Estate Mortgage & Guaranty Corp. 24 Jackson Place Main 1403 1s regarded 1 important feature of the loans is the tendency of those made by others than banks. hl;lleybe;cul lu‘n:m;rompgul; source have been expan Ta] while the loans of the New York banks have been showing a relatively sharp There is no present indication that the loans over which the Federal reserve has no-control will shrink suffi- ciently in the near future to -affect money rate: We Will Lend You Money In Any Amount At : : 5 %% Interest For Periods of 3,5 or 10 Years In Nearby Maryland, Virginia and the District of Columbi Westheimer & Company Members of the New York Stock Exchange Baltimore Stock Exchange Cincinnat] Stock Exchange Chicago Board of Trade ° WOODWARD BUILDING Telephone Main 5500 BOSSEMHELPS 1417 K St. Main 9300 Loan Correspondent John Hancock Mutual Life Insurance Private Wires to Al Important Points G. M.-P. MURPHY & CO. New York WASHINGTON Richmond New York Stock Exchange . Washington Stock Exchange” Richmond Stock Exchafge New York Produce Exf, New York Curb™ o 3 /4y Review” on Request Copy of our “Fart- 1508 H Strew Connecticut at K Main 9600. Private Wire and Telephone to New York 100 Broadway Keyser Bldg. New York Baltimore RS LRSI FIRST TRUST NOTES to yield 6%% In Amounts: From $100 Up WARDMAN 1437 K Street N.W. Main 3830 XA National Metropolitan Bank Oldest National Bank in District of Columbia 15th St., Opposite U. S. Treasury Open Until 5:30 P.M. ‘Today & Tomorrow —so0 you -Departmental work- ers who are patrons of OUR SAVINGS DEPT. can make vour usual Pay Day deposits with all possible convenience. One Dollar or more will open a savings account 3% Paid on Savings Tires and Tubes on display at BEN HUNDLEY 3436 14th St. N.W. .. Col. 6041 (At Newton)