Evening Star Newspaper, February 4, 1929, Page 14

14 ¥ ll C. RETAIL SALES - SHOW GAININ 1328 Hoxton’s Monthly Review ' Gives Survey of Trade in Fifth District. BY EDWARD C. STONE. Further details in connection with Tretail and wholesale trade in the Wash- Angton_area and the remainder of the fifth Federal Reserve district are re- vealed in Chairman William W. Hox- ton's monthly review, received today drom Richmond. The report says: “Retail trade in December, as re- flected in department store sales, was up to seasonal average, increasing 55 per cent over November sales and also averaging 7.9 per cent above average December sales by the same stores dur- ing the three years 1923-1925, inclusive. Sales in December by 30 stores fell six- tenths of 1 per cent below December, 1927, sales, but total sales in the calendar year 1928 were four-tenths of 1 per cent above sales in 1927. Sales in Richmond and Washington in 1928 ex- ceeded sales in 1927 by 2.3 and 3.3 per cent, respectively, but sales in Balti- more and the other cities were smaller. “Stocks on hand at the end of De- cember, 1928, were 2.4 per cent smaller than stocks at the end of 1927, and ‘were 19.2 per cent smaller than at the end of November, 1928. Sales during December amounted to 48.4 per cent of average stock carried during the month, and total sales during the calendar year 1928 were 334.7 per cent of average stock on the shelves at the end of each of the 12 months. This in- dicates an average turnover during the year of 3.347 times, the stores in Rich- mond leading with approximately 3.74 . in December equaled 289 per cent of total receivables out- standing on December 1, a slightly high- er figure than 28.6 per cent of receiv- ables collected in December, 1927. ‘Washington, with 32.6 per cent, report- ed the best collections in December. 80 Firms Report Wholesale Trade. “Wholesale trade in the fifth Federal | Reserve district in December, as indi- | cated by reports from 80 firms in six lines, was in smaller volume in every line. except drugs than in either No- vember, 1928, or December, 1927. The decreases in December sales under those of November were largely seasonal, but ‘the declines in comparison with Decem- ber, 1927, sales show actual decreases in business. Total sales for the year 1928 were also smaller in every line reported ‘upon except groceries and drugs, which gained 9.9 per cent and 3.6 per cent, Te- spectively. “Dry goods and hardware stocks de- | clined in December, while stocks of gro- ceries and shoes increased. At the end of the year stocks in all of the four lines for which information was available were'legls than stocks on hand December 31, 1927. “Collections in December were better than in November in all lines except groceries, In comj with collec- tions in December, 1927, those of De- cember, 1928, were better in dry goods, shoes and drugs, but grocery, hardware and furniture collections compared un- favorably with those of the correspond- ing month of the preceding year.” the report said. Savings Deposits Also Announced. Time ts in 63 regularly report- ing mem%eemnu. located in 13 leading cities in the fifth district, totaled $240,- 774,000 on January 16 of this year, com- ?red with $246,039,000 on January 18, 928. Between December 12, 1928, and Jan- b Danks. inceesscd By #8110, mem| 3 but “all other loans,” which are largely or $8,111¢ about a net de- drease in outstanding loans to - ers of $1,344,000 during the month. The reporting banks increased their investments in bonds and other secur- by $4,561,000 between 12 and January 16 and reduced their borrowing at the. Federal Reserve Bank by $4,420,000. Time deposits rose $1,- 408,000 during the ':nont.h under review, 259,000. Cash in 2, 085,000 between December 12 and Jah- uary 16, the banks needing less cur- rency after the holiday shopping season had . The reserve deposits of the reporting 63 banks decreased $201,000 during the past month, a daily fluctu- .m‘r"h‘eoglgy\im reported for January 16, 1929, compare closely in most items with those reported for January 18, 1928. An examination of loan and discount figures shows an increase of $32,669,- ities, but loans otherwise unsecured decreased $29,277,000 discoun ,392,( Total investments of the reporting member banks in bonds ‘and securities showed a decrease of $16,306,~ 000, probably due in part to higher re- turns on money loaned on securities than on bond and stock investments. Deposits declined $23,728.000 between January 18, 1928, and January 16, 1929; demand deposits decreasing by $18,- 463,000, and time deposits by $5,265,- 000, last year showing the first decline in time deposits in several years. As a result of lower deposits, the 63 re- porting_banks reduced their reserves at the Federal Reserve Bank by $3,253,- 000 between January 18 last year and January 16 this year. Cash in vaults dropped $1,454,000 during the year under review. Aggregate borrowing by the reporting banks at the Federal Re- _serve Bank of Richmond was $1,358,- 000 greater in amount on January 16, 1929, than on January 18, 1928. ‘Washington Gas Stock Sells Off. Washington Gas Light stock sold off on the Washington Stock Exchange today, presumably of the passing of the annual stockholders’ meeting ‘at the company’s headquarters this noon. The market opened with one share of gas selling at 124, off a point from last week’s close. Five shares then changed hands at 120 and four more at 115, the closing figure. While the stock was off 9 points on the day, the turnover was very small. Capital Traction opened the week at 106%, and closed at 106%, sales totaling 25 shares. Potomac Electric Power 6 per cent preferred was strong at 113 and the 51, per cent stock moved at 109%. Chevy Chase Dairy preferred changed hands at 107. Federal-American Co. common again #old at 55 and 30 shares of Mergenthal- er figured in the day's trading at 1043. After call a baby gas 6, series B, sold at 105 and a single share of Riggs National Bank stock registered 576. For the first time in weeks not a! security on the local exchange is now selling ex-dividend, the February 1 pay- ments having cleaned the slate. Heard in Financial District. E. A. Pierce, head of.the brokerage firm which maintains an office in Wash- ington, opposes an increase in the num- ber of New York Stock Exchange seats. He believes inactive members should give up their seats to active repre- sentatives. The governing board has already tried to accomplish this step but falled. Mr. Plerce is not a mem- Der, but three of his partners are. The Aetna Life Insurance Co. for year of 1928 reported total volume of new paid life insurance of 81.010.!!!‘,;‘ T Am Locomot(8). 110t 110% Am Loco pf(7).. 116 Am Metals(3). . Am Metals pf(6) 128 Am Fiano pf. AmP&L (11 AmP&L pfA21;. | AmP&LDL sta 5. Am Radiator(5) 203% 208% 198% 198% Am Ry Ex(6)... 137 Am Republies. .. Am Saf Raz.10). Am Seating(3).. Am Ship & Com. Am Shipbldge8). Am Sm&Ref(4). Am Snuff (12).. Am St Fdys(3) Am Stl Fy pf(7 Am Sugar. Am Sugar pi Am Sumatra(3). Am Tel & Ca(5). Am Tel & Tel(9) 220% 220% 218% 219 Am Tobacco(8). 183 Am Tobac B(8). 183% 184 Am TypeFo(8).. 1523 162% 151% 151% AmWWE&EI(cl). Am Woole: Am Woolen pf.. . 51% &6 Am WritPactfs 14 Am Zine... Anaconda C (6). 127 Anchor Cap.... Anchor pt (63) Andes Copr 75e.. Archer Dan (4).. Armour 111(A).. Armour 11I(B).. Arnold Con&Co 31% 33% 313 33% Art Metal(1%). AssoDryG(2%). Asso D G 2d4(7) A'chison(10) Atch T&S Fe rts Atchison pt(6). . Atl Coast L(110) 190 Atl Gult & Wl.. . 37 Atl Guif pf(3).. Atlantic Ref(1). Atlan Ref pf(7). 116% 116% 116% 116% AtlasPowder(4). 112 Atlas Pow pf(6). 105 Austin-Nichols. Auto Sales...... Auto Sales pf(3) Autostrap A(3). Bald Loco pt¢7). 117 Baulto & U6, by | Balto & O pf British Emp 2d.. Brockwy Mot(4) 68% 684 67% 68 Bkiyn-Man(4).. Bklyn-Man pf(6. BklynUnGas(5). 189 Brown Shoe pf 7.'119% 119% 119% 119% Brunswick B(3) all | Brunswick Tes Bucyrus(1).. Bucyruscv(2i) 47% 49% 4Th 49 Bucyrus pf(7).. 114% 114% 1 Buft 57 6L Buff&Sus pf(4). Burns Bros(B). . BurnsBros pf(7) 105 Burroughs(t4).. Bush Term(g2). Bush Ter de(7).. Bush Ter p£(7). Butte Cop &, Butte & Sup(2). Butterick Co. Byer & Co... Byers A M(rts). Byer & Copf(7) . 114% 116 By-Products(2). 120 Calif Pack(4)... Callahan Zine... Cal & Hecla(4).. Can Dry (14%). Can Pacific(10). 258 Canon Mills 2.80. Century Rib M. . Cerro de Pas(5). 106 FINANCIAL.. Open. High. Low. Close. Abitibl Power Aoitibt Po p 84 8¢ Abrahmé&Stra 144% 148% 144% 145% Ab&Straus p£ 7.. 110% 111% 110% 111% Adams Exp(6).. 406 406 406 406 34 33% 33% T4% 69 69% 3% 68 69%; 4 4 3% 2% 110 111 109% 111 10 10% 10 10% 8% 8% 8 8i 23% 23% 23% 23% Alleghany Corp. 33 33 31% 324 Alleghany A 5% 104 104 102% 103 Allied Chem. ... 298 299 294 295 Allied Cm pf(7). 122! 1224 122% 122% Allis-Chalm(7). 18| 185% 185 185% Allis-Chalm rt: 4% 4% 4% 4% Amerada(2).... 34% 35% 34 343 Am Agricul Chm 214 21% 21 21 Am Bank N(13). 124% 125% 124% 124% Am Begt Sugar. 18% 19% 18% 19% Am Beet Sug pf. 60 60 60 60 Y D! Ahumada Lead Alr Redctn (13, Ajax Rubber, Alaska Junea. Albany Papr(2). «THE 'EVENING STAR,” WASHINGTON, D. NEW YORK STOCK EXCHANGE Condo Nast(2).. Congoleum-Nair Cong Cgrs (5).. Conley Tinfoil. . Consol Cgrs (7). Con Film pt(2).. Conmsol Gas (3). ConsolGaspf(5). ConRRCuba pf 6 Consol Textile. . Container A 1.20 Container B 60c. Cont Baking A.. Cont Baking B.. Cont Bak pf(8). Contl Can (2%). Cont Insur(6)... Contl Mot(80¢). Cont Motors rts, Corn Prod t8%.. 89% 90% Corn Prod pf(7). 143% 143% CotyInc(2).... 74 Crown Zelrbck 1 22% A% 27% 14% 9% 1 92 28% 28% 2T% 115% 115% 114% 1 9% 99% 9913 Am Bosch. 42% 42% 414 4Pn Am BrSh(j1.60) 58 62 58 59 AmBShoe pf(7). 124 124 124 124 Am Brown Bov, 18% 19% 18% 18% AmBrownBopf 70 70 70 70 . 116% 117% 115% 116% 1411 141% 1411 141%, 99% 100% 994 100 5% 18% 5% T8% 57% 57% b6Y 56% 10 10 10 10 Am Express(6). 289 289% 289 239% Am & For Pow.. 95% 95% 921 934 Am&ForP pf(7) 106% 106% 106% 106% Am&For P2d 7. 99% 100 99% 100 Am Hide& Lpf. 33% 33% 33% 33% Am Home Pr(3) 2% 827 821 &2% AmIce (12%).. 40% 43% 40% 42y Am luternati(2) 147 147 14215 14412 Am Internat(n). 74 744 72 72 Am LaFr&Foam 7% % % 110 110 116 Y116 116 78% T6% 78 120 127% 128 90 85 85 481 481y 110 110 107 6% T6% 76l ol | 2ln K2y Kl K2y AmPo&LL pr(6). 1021 1024 102 1024 AmCar&Fdy(6). Am Chain pf(7). Am Chicle (2).. Am Drug (60c). 8 Am NatGaspf7 90 48'% 48 107 137 55% 56 72 4% 5% 92 11974 137 137 55% 55% % % T2 B84% 34% 34% 8 5% 6 92 92 92 119% 118 119 202 202 . 202 T4 9% T3 TT% 112! 1121 112% 1124 91l3 913 90% HYO% + 110% 110% 1103 110% 575% 58 b57% b58% 18% 18% 18% 18% 1831 183 183 183% 184 85 851 83% 83% 24% 26% 24% 26 51% 56 . 14 14 14 39% 40% 39% 40% 128% 126% 126% « B7% BT 56W b56% « 118% 119 1187% 119 50% b51% 50k 50% 103% 103% 102% 103} 1% 1T% 17% 1% 9% 9% 8% 8 30 30 30 30 64% 64% 624 63% 108 108 108 108 « 209% 209% 206% 206% 24y 2 103 4TH 4T% 4T% 4T% 60% 61 38% 59 112 106 110 105 105 8 ™% 8 23 22w 23 39 38% 38Y% 45l 45 45k 117 116% 116% 111 % 229 39 45 131 . 9% Bang & Ar(3%). 69% Yo Bang & Ar pf(7) 108% 1084 108% 108% Barker Bros(2). 32 Barnet Leather. Barnsdall A {2). Barnsdall B (2). Bayuk Cgrs (2). 109 Beacon Ofl..... Beecn-Nut (3).. Belding-Hemwy Belg N R pf(16). Bast & Co(3).... Bethlehm Stl(4) Beth Steel pf(7) 122 Bloomingdale. .. Bimingdle pf(7) 110 Blumnthl pf(7). 102 Booth Fisheries, 32 32 32 25 25% 25 25% 45% 45T a4 44% 46% 46% 46% 46Y% 110 109 110 21% 21% 21% 21% 94 4% 93 93 12% 12% 124 12% 8l% 82 81% 82 87 88 87 88 88% 93% 88K 9% 122 122 122 4T 4T% 46% 46% 110 110 110 102 102 102 9% 9% 9% 9% 197% 198 19 195 54% 55 54% 54% 5% 5% 5% 5% 9% 10% 9% 10% 1% 8% TT% TT% 92% 92% 92% 92% 189 189 189 53% 63% b52% 52% 38 42 38 42 38% 40% 38% 39% 143 114% 564 61 59 60 59% 60 33% 33% 32 32 105 105 105 245 245 245 245 7% 87% &2k 86% 108% 108% 108% 108% 116 116 116 116 8% 9 8% 8% 10% 10% 10% 10% 35 36 35 157 156 156 14% 14% 14 14 114% 116 120 120 T4% 763 3la 3 Calu & Ariz (6). 130% 133 130% 131% 56 57% 56 563 86 86l 84 B4 264% 258 259% 46 46 6 & Susq. . ine 120 6% 5% 3% Cavanah Dobbs. Celotex Co (3). Celotex pf (7). 51 51% 355 358 365 358 18 18 18 18 108'% 106 107% Certain-teed Pro 25% 25's 24% 24% Certo (t4)...... 83 86 83 86 Ches & Ohlo(10) 225 225 223% 223% C&OCorpn(3).. 89 874 Chi& Alton..... 19% 16% Chi & Alton pt. 26% 22% Chi & East Ill... 43 43 Chi & East 11l pt 66% 66 Chi Great West.. 23% 22% Chi Gt West pf.. 59% 60% ChiM&StP.. 39% Chi Mil & StPpf 63% Chi&Nwn (4).. 91% Chi Pneu T new. 34} ChiPTpf(3%). 5 56% Chi RI&Pac(6).. 138% 139 136 CRI&PpPI(6). 102 102 102 CRI&PDI(7), 106% 106% 106% Chi Yel Cab(3).. 32 32 Christi B(1.20).. 114 115 Chickasha(3)... 46% 48 Childs(2.40).. b7% 57% bb% b56% ChileCop (3%). 924 93% 92% 9274 Chrysler(3).... 108% 111% 108% 109% City Ice & Fuel.. 61% 61% 61% 6113 City Storesnew. 26% 27 City Stores(rts) 5 % | Inland St1 (3%). Crucible Sti(6). CubaCaneSug: Cuba Company Cuban Am S(1). Cudahy Pkg(4). Cudahy (rts). Curtiss Aerot1). Cushmann pf(8) Cutir-Ham (3% ) Cuyamel Fruit.. Davison Chem. . Debenhms(2.91) Deere&Co pf(7). Del & Hud(9) ... Del L & W(t7).. Den RG Wn pf.. Detroit Ed(8)... Devoe A (13.20). Devoe&R 1st(7). Diamond M (8). Dome Mines(1). Drug Inc(4) Dul S S & At Dul S § & Atl p Dunhill Int ($4) Dunbill (rts). Dupont (new). . Du Pont deb6). 174 stman(18)... 191 stman pf(7).. 21 12i% Eaton Axie (3).. Bitingon(2%). . Elec Auto L (4). Elec Au L pf(7). Electric Boat. EiecPow&Lt(1), Elec Stor B (5). Em Brantgm(A) End-John(5). . Eng Pub S(m1 Eng Pu 8 pt(5). equit Bldg(2).. EquitableTr(12) ErieRR.. Erie 1st pf. Erie 2d pf. Eureka Vac (4).. Feirbanks(3)... FedLight(h1.40) Federal M & Sm. Fed Mot T(80¢). Fidelity-Phoenx First NatS(1%) Fisk Rubber. Fisk R 1st pf Fisk Rub 1st pf. Fleischman t3% Florsheim (A).. Follansbee 124 . Foundation Co Fox Film A(4) Frank-S pf(7) Freeport T (4).. Fuller pr pf(6). Gabriel Snub A.. Gardner Motor, Gen Am Tnk(4 9 9 194 190% 17% 94% 110 514 51% 102 102 31% 32% 22 224 95 95 4 % 115 115 60% 60% 118'9 119% 107 107 68 68 255% 257 1% 11% 84 84 116% 116% 108 108 108% 108% 86% 87 9% 9% 83 © 84% 125% 126 51 51 Gen Cigars(4).. Gen Electric 16. . GenElec sp(60c) Gen G&EI A(12) Gen Gas pf A(7) Gen Gas pf B(7) Gen Ice Crm(14) Gen Mills (3)... Gen Mills pf (6) Gen Mot (New) . Gen Mot pf(7).. Gen Outdr Ad(4) GenOutdrAd(2). Gen Ry Sig(5).. Gen Refrac(s).. Gillette S R(c5). G'mbel Bros. ... Glidden (11%) Gobel (Adolpa Gold Dust (new) Goodrich(4) Goodrich pf( Goodyear Tire. . Goodyr 1st pf(7) Gotham H (2%). Gothm nv(2%).. Gould Coupler A Graham-Paige. . Granby (6)..... Grand F&W (1). Grand Unon. . Grand Un pf(3). Grant W T (1).. 137% 138 Grt North pf(5). 113% 113% Gt Nor pf cfs(5) 110% 110% GtNoOrefs2%. 37% 37k Grt WnSug2.80 41k 41% Grt Wn Su pf(7) 118% 118% Greene Cana(6) 179 180 Guan Sug pf(8). 88 Gulf Mo & Nor.. 58 Gulf Stat Stl(4). 72 Hacknsk W(1%) 26 Hack pt A(1%). 27 Hahn Dept Stor.. 51% Hahn DS pf 6%. 110 Hartmn B(1.20). 33% Hershey Corp... 70 Hershey pf(4).. 82% 82% &2% 8274 Hershey pr pf(6) 104 1041 104% 104% Holnd Fur(2%). 47% 47% 47% 4% Hollander&Son 19 19 19 19 Homestake(17). 73% 173% 73% 73% Household(f4).. 754 1764 To% 76% Houston Oil.:... 87 &7 86% 86% Howe Sound(4). 7L 71 Hud Man(2%).. 55% 56% " Hud Man p£(5).. 79 Hudson Mot(5). 89" % Hupp Mot(£2)... 8% 78% 78 148Y% 148% 146 146 145% 145% 145% 145% 31 324 31% 32 « 24 24 24 24 Indian Motpf(7) 94 94 94 94 Indian Refining. 36% 36% 36 36% Indian Refgcifs 63 36 35% Indust Rayon... 129% 129% 129% 129% 90 9 89 89 49% 49% 48% 48% B3% 53% 52% 53% InterconRubber. 11% 11% 11% 11k Internat Agri... 16% 16% 16% 16 Intl Bus Ma (5). 151% 153% 151% 152t Int Cement(4).. 102% 102% 971% 97% IntCom Engi2). 884 90% 87% 87% Int Comb pf(7). 112% 112% 112% 112% Int Harv (2%).. 110% 110% 109 109 Int Harv pf(7 143 143 Int Mtch pf 3.20. 9% 9314 Int Mer Marine. 5% % Int Mer Mar pf.. 37 36% 37 Int Nickl of Can 66 65% 65% Int Nickel pf(7). 122 122 2 Int Paper(Z.40). 724 1T2% 72 Int Pa&PoA2.40. 33% 34 33 IntPapr&PoB. 214 21% 21 IntPapr&PoC. 15% 16% 154 IntPrigInk 2%. 60% 60% 59% Int Ry CApf(5). 78% 78% 78% IntlSalt(5)..... T4% 7T4% Td% T4% Int Tel & Tel(6). 222% 228% 219% 220 Interstate DS... 78 79% Intertype(t13%). 30% 30% Island Creek(4). 56 56 Jewel Tea (16).. 159 162 Johns-Manv(3). 239 239 Jones & Lau(7). 121 121% Jordan Motor... 13% 13% 35 35 101% 102% 114% 114% 130 131% 102% 1024% 3 3 26% 27 Inspiration (3).. InterboroRapTr. 78 19% 30% 30% 55% 55% 159 162 233 234 121 121% 13% 13% City St B5% stk 99 Cluett-Peab(5). 66 Coca-Cula(6). 131% 135 Coea-Cola (A) 49% 50 Colilns & Aikmn 53 58 Col Fuel & Iron. 73% 76% 173 Colo Fuel pf(8). 133% 133% 133% 133% Col Gas & EI(5). 155 155 152% 152% Col Gas&El new. 63% 63% 62% 62% 397, this representnig an increase insurance in force of $350,627,808 and bringing the amount of insurance now in force to a new high mark of $3,577,- 316,543. Payment to policyholders dur- ing the year was $59,422576. U. 8. TREASURY RECEIPTS. ‘Treasury receipts for February 1 were $5,042,857.16; expenditures, $5,103,~ 713.52; balance, $131,384,642.61, l ‘" s Columbia Graph 81% B81% 77% 177% Col Carbon t43. 153 154% 150% 152 Com Cred(1). 53 63% 52% 53 Com Credit(rt: % 4% 4 4 Com Cristpf 6% 101% 102 101% 102 ComCrpfi1%). 26 26 25 25 Com Crpf B(2). 26% 264 264 26% Com Inv Tr (4). 193% 195 193 194 Com Inv (war).. 62% 62% 61 61 Com In Trpf 6% 97 97 96 96 Com Solvnts(8). 2224 244% 242 242 Com Powler(13). 129% 129% 126% 1256% 94 68l 34% Kan City South.. 93% 9% 68 6Bl4 Kennecott (8) Kinney (G R) 36% 35 354 35% Kresge St(1.20). 87 87% 86% 37 Kresge SS pf(8) 113% 113% 113% 113% Kre: Dept S 20% 20% 20% 20% r& Toll.. 41% 414 40% 40% K Kroger Gro(cl). 115% u; 114 114% % | Pirelll of Italy. Y% | PortoRicoTobB. 29 39% 132% T 5 29 132% 1, Leh PorCmt 2% 61 Lehigh PC pf(7) 110 LehighVal(3%). 102% 102% Lehn & Fink(3) Liquid Car(4%). Loew’s Inc (3).. Loew's pf(6%). A09% LOft...coceoere. 8% Long-Bell(A)... Loose-W(1.60).. Loose-W 1st(7). Loriilard Co.... Lorillard pf(7). Louisiana Oil. .. Louts GasA 1.75. Louis & Nash(7) Ludlum St1(2).. Ludlum § pt 6%. Mac And(12.85). Me Call Corp(4) McCrory At2).. McCrory B(2 Mcintyre P(1). McKeespt Tin Pl McKes&Ro 1.60. McKsn pf A 3% Mack Truck(6). y Co (c2)... Mad $q Gar 1%. Magma Cop (4). Mallison & Co. .. Manat: Sugar pt Mandel(2%).... Man Elec Suply. Man £1 m2g (d5) Man Shirt(z)... Maracaibo Oil. Marlan Oll...... Marlin-Roe 33 Marmon-Mot(4) Mathieson(6). .. 2 May Dept S(4). Maytag (12). Ma nfe3) 93 3 % 719 109% 8% 31 Melville Sh 1.10. Mengel! Co. Mexican Seab Miami Cop (2).. Mid-Cont P(2). Mid-Cont pt(7) Middle Stats Mid States c! Midland pf(t12 Miller Rubber Minn & St Loul Minu StP&SSM., M St P&SSM pf . MStP&SSM 11(4) Mo Kan & Tex. . Mo K&Tex pf(7) Missouri 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 Cotp. ... Nash Motors(6). Nash & Chat(7). Nat Acme (1) Nat Bellas He Natl Riscult(t7) Nat Cash Reg t4 Nat Dairy (33). Nat Dept Stores. Nat D St1st(7). Nat Distiliers. .. Nat Distillers pf Nat Lead(6).... 1 t Ld pf B(6). t Pow&Lt(l). Nat Radiator... Nat Radiator pf. Nat Ry Mex 2d. Nat Supply(18). Nat Surety (5). Nat Teat4)..... Nevada Cop (2). N O Tex&M (7). N Y Atr 8r(3) N'Y Central(8. N Y C & StL(6). N Y Dock....... N Y & Harim(5) NYNH&Hart(4) NY NH&H pf(7) N Y Ont&Westn N Y Stm pf(6). . NY Stm 1st pf 7. NorfolkSou t3% Norf & Wn(T10) NorAm b10%stk No Germn Lloyd North Cent(4).. Nortn Pac(5)... 1 Nor Pac cfs(5). Norwalk Tire, Nunnally Co. Ofl Well Supply. 27% Oil Well Spf.... 103% Omnibus. o OppenhmCol(4). Otts Steel...... Otis Stl pr pf(7) Owens Bot (c4). £acific Gas(3).. Pac Lightg (3).. Pacific Mills Pac Oil Stubs. .. Pac Tel & Tel(7) Packard Mot(3). Pan-Am Petrolm Pan-Amer Pet B. 114% 199 29% 216% 195% 138% 135% 34 1547 163% 344% 344% 119% 118% 32 30% 101% 101'% 114% 1144 43% 48 204 201 103% 100% 58% 58 86 86 113% 111% 111 29% 27% 108% 103% 8% - 8l 4% Tiw 42% 40% 102 93% 64% 63 9% 17 32 1% 179 138% 135% 43% 43% 44 10% 6T% 66% B0 79% 12% 12 13% 11% 274 26 38 36% 20% 20 41% 41 24% 21% 8l% 80% 8% 4% 40% 102's 93% Patino M(2.92).. Peerless Motor. . Penick & Ford. . Penn Dixie Cmt. Penn RR(3%).. Marq(18).. 173 173% 173 M prior(5). 100 100 99 Pet Milk (1%).. 42% 42% 42% Phila& RC&1. 31% 32% 31 Phil Morris(1).. 17% 17% 17% Phillips P (1%). 40% 40% 39% Plerce-Arrow... 34% 34% 344 Plerce-Arrow pf 83 83 83 Plerce Oll....... 2 21 Plerce Oil pf. 32 Pierce Petrolm 4% Pilsbury (1.60).. 59% 59% 58% 64% 64% 64 Pitts Coal. . 3% 3% 73 . 9 91 91 PittsFtW pf(7). 153 158 153 Pitts&WVa(6).. 148 148% 148 Por RicoToA(7). 82% 84 825 39% 40 39 Postal T&C pf 7. 104% 104% 104% Postum(3) 6 6% 5 Prairie Ofl: 60% 62% b59% Prairie Pipe 58% b58W 57 Pressed Stl Car. 21% 21% 21% Pubic SerNJ(2). 91% 91% 89% PubServNJrts. 1% 1% 14k ) 108% 108% 108% 86% 86% 85% 1% 17% 17% 26 25 24% 113% 113% 113 138% 139% 138% o 400 404 393 81 82% 80% 55% b55% b5 41 4l% 40 8% 8% T8% 117% 117% 113% 49% 49% 49% 2% 72% ‘12 100 100 16 14% Pure Oil pf(8). Purity Bak(3), Radio-Keith(A). Rels 1st pf(7)... Remingtn-Rand. d 2d(8)... Reo Mot (t1).... Rep 1 & S(4) Reynolds B new. 64 Richtield O11(2). 44% 44% 43% Rio Grande Ofl.. 40% 40% 39% Rossla Ins 16%. 248 248 248 Royal Bak P(1). 37 37% 36% Royal D(a3.222). 51% b51% 50% 181 181% 178% 82 80% 82 121% 1224 120% nF pe( 96ls 96% 96% StL&Southwest. 115% 115% 112% StL Swn pf(5).. 91 1 Savage Arms(3) 47 Schulte (J3%).. 32% 34 32 Schulte pf(8).., 105 105% 105 Close. 29 139% % 227% | Sears-Roe(32%) 63 109% | Shattuck FG(2). 102 67% | Shubert The(5). 32 97% | SimmsPet(1.60) 97% | Sinclair Oil. ... 112 1;2[‘9 Std Milling (6) ‘: Std Milling(rts) . Std Millg pt(6). 564 73 131 744 | Truax Trar 1.60. 139% 7 3% 1 21% 190 3 99 46% | Union Ol (rts) . Received by Private Wire Direct to The Star Office Open. High. Low. Close. 20% 207 20% 20% 23% 244 18% 20% 166 1667 5% 5% 132% 142 2T% 697 110% 20% 39% 35% 15% 46'a 42% 132 635 14% 136% 156 Seab Air Line... Seab Alr L pf... Seagrave(el.20). Seneca Copper. . Shell Un(1.40). Simmons Co(3). Skelly Of1(2! Snider Packg C Snider Pkg pt... So Por Rico(2).. South Por pf(8) South Calif Ed South Dairies South Pac(6) South Ry(8).... South Ry pf(5 SouRyM&O cfs 4 Spaulding pf(7). Spang Chalfnt.. Spear & Co..... Spear&Co pf(7). Spicer Mfg..... Spiegel Co (3).. Stand Com T(1). StAG&E (3%). Std G & Epfi4). Std O of Cal(t3) StdOIINJ (11%). StdO:INY(1.60). Std Plate Glass. Std P Glass pf.. Std San M(1.68) . Staniey Co..... Stewart-War(6), Stromberg (3).. Studetaker(5) Submarine Boat. Sun O11 (g1) Superior VIl Superior Steel Symington..... Symington Cl A. Tenn Copper(1). Texas Corpn(3) ox Corp full pd TexasGuliSuli4) Texas & Pact). T&P C&O(b2% ) Tex Ld Trinew) Thatcher Mfg. .. Thatchr pf 3.60.. The Fair(2.40). . Thomp J R(3.60) Thompson(rts) . Tidewater ASOil TidWAsOilpt(6) TidewatrO(80e) Tide W Ol pf(5) Timken Roll B Tobac Prod (8 Tobac Frod A( Tob Prod cfs(C) Transcont OMi. .. Trico Prod(2%) Truscon Stl 1.20. Twin City RapT Undwd-EI F (4) Un Bag & Paper Union Carb(6).. In O11 Cali2)... 110% 36Y% 220 112% 6% 221 1% 230 82% Union Pac(10). . Un Facific pf(4) 57% | Unlon Tank(5).. 1 T2% | Utd Biscuit 1 us 199 29% | Utd Elec Coal. 216% 195% 133% 134w | US CIP 1st 1.20. 83% 9214 | US Express.... 38 69 151 118 53% | U S Lea pr pf(7) 39t | US Rubber. 314 | US Kub Ist pf 128 1531% | USSm pf(31). 3441 | U S Steel(7).... 48% | U S Steel pf(7).. 140% | U 8 Tobacco(3). 484 | Unl Leaf Tob(3) 200% 144 54 349 96 119 31 101% | Victor Talkg(4). 114% | vietor pr pf(7).. 48%% 202 100% { va-Car Ch pf(7) 58% | Vulcan Detin. .. 86 11% 1t 6 ™ 29% | Ward Baking B. 103% | Warner Bros Pie 8'% | Warner Bros pf. T4% | Warner-Quz). . 42% | Warrn Bros (t5) 104 94% | Webstr-Eislohr. 63 ki 82 1% 176 136 | West P Po pt(7) 4414 | West Dairy B... 107 66% | West Md 2d of, 9% 1214 | West Pacitic pf.. 13 26% 6! 20 41% 23% 173% 99 42% | White SM pf(4). 1% 1% 39% 3414 | Wilson & Co..... 3 | wilson & Co bf. 32 58% 64 3 91 153 148 83% | Youngstn Sh(5). 111 10% 15814 | Steady on the Bourse 63% 44 39% 248 36% 51 181% 1, | demand from the automotive industry Preliminary figures 30% | Publications, Inc., sho 1217% | after taxes for 1928 of $1,503,335, as 961 | compared with $1,213,903 for 1927, an 1121 | increase of 23.8 per cent. 91 Utd Cigar St Utd Dyewood Utd Fruit(t5% Utd Paperboard. US Cast Ir P(2). U 8 Distributing {I'S Hoffman(4). U S Alcohol (6). US Leather.... U S Leathr A(4) U S Realty(4).. U S Smelt(3%). Univ Pipe & Rad Utah Copper(12) Utll P&L Ace2). Vadasco Sales. .. Vanadium (14). Van Raalte..... Vick Chem(4)... Va-Caro Chem. . Va-CarCh 6%pt. Vuican Detin(A) Wabash.... Waldorf(1%)... Walworth(1.20). Ward Cl A(8). Warren F&Pire. Wesson Oil (4).. W Penn EI A(7). W Penn El pf(6) W Penn El pf(7) West P Po(6). .. West DairyA(4) West Maryland. West Pacific, . West Union(§).. Westhse A B(2) Westinghse(4). Westhse EI rts. Westhse 1st(4 White Eagle(2 White Mot(1)... ‘White Rock (3). White Sew Mach Wilcox Oil & G.. Willys Ov ¢1.20. Willys-Ovd pf 7. Wilson Co pf A. Woolworth (6).. Worthn Pump. . Worth Pump(A) Wright Aero(2). Wrigey ((13%). Yale&Towne(4). Yellow Truck... Young Spring. . 63 4% 39% 59% 59 59T ST T T Hourly Sales on N. ¥. Market. 10:30 am.. 747,300 12 m... 1,977,200 1:30 p.m. 2,865,000 2:15 p.m 3,379,400 Dividend given in the above tabie re the yments based on tiie a1 39%, | 59'% STEEL MILLS ACTIVE. NEW YORK, February 4 (#)—With | holding up, steel producers in the * |'Youngstown district look for sustained | activity through February. Average production is close to 90 per cent of capacity. - e PARIS BOURSE PRICES. PARIS, February 4 —Prices were | ; 3 per cent Tentes, 72 francs 10 centimes; 5 per cent loan, 97 francs 65 centimes; ex- change on London, 124 francs 11% centimes. The dollar was quoted at 25 francs 59% centimes. of the Conde Nast w total earnings This is'equiv- alent to $4.69 per share common stock | 49% ! for the year ended December 31 l:;tfi 34 105% year against $3.62 per common share for before, RS | Rock Island dividend. C; MONDAY, 'FEBRUARY %, 1929. STOCKS IRREGULAR | INHEAVY SELLING Some Issues Made Advance. Money Rate Up to 8 Per Cent. BY GEORGE T. HUGHES. Spectal Dispatch to The Star. NEW YORK, February 4.—Individual | stocks made progress upward in today’s | stock market, but the general list had | a reactionary trend, especially in the later trading, after money, which had renewed at 7 per cent, had advanced to 8 per cent for new loans. Among the favorite issues in th~ afternoon werz Shattuck, up over 8 points above 140 and at a now high, and the low-priced Remington-Rand, which was turned over in large volume | at_advancing prices. 2 7 The rails opened up in some cnses! 1 sharply, but they sold off later on as| realizing made itself felt. Baltimore & Ohio was the leader, starting at 131, the highest at which the stock ever sold, and being dealt in heavily. It lost part of its gain subsequently, but speculative sentiment toward it was favorable, partly because of the merger moves and partly because of the outlook for a higher dividend. Atchison, above 209, made a new all- time high; Union Pacific, above 231, duplicated its previous top, and St. Louis-San Francisco, crossing 122, made a new peak price for 1929. The yield on the last named is higher than any- where else among active railroad stocks, but that is dus to the comparatively low margin of safety. Frisco, however, will benefit from an increase in the Bethlehem Steel. Bethlchem. Steel was the outstanding | industrial leader. The stock was taken | in large blocks, moving steadily for- ward some 6 points to the highest since 1920. Earnings estimates are running high and it is predicted that the share- holders may expect something more than $4, which would be the rate if the initial dividend were maintained throughout the vear. In addition in- vestment bankers were said to be recom- mending the stock for permanent hold- | ing. That the move in Bethlehem Steel was a special affair was plain from the fact that it did not take along with it United States Steel or the other inde- pendents, In the early. trading these were neglected. On th other hand, the motor stocks did better. Chrysler, after making a new low for the year, rallied and General Motors moved up over a point. Coppers Show Strength. Coppers were strong. Anaconda crept up to within a fraction of its top. Green Cananea was up & points at 180. Calu- met and Arizona was actively bought on talk of a larger dividend and possible merger development. Menwhile the outlook for the metal market is encour- aging. Call money renewed at 7 per cent. Time money and commercial paper were unchanged. The trading element was impressed with the statement in the monthly review of the National City Bank to the effect that there was “no immediate call for a higher bank rate, at least in this district.” ‘This had much to do with the confi- dent tone of the market. Fickes Named Director. | NEW YORK, February 4 (P).—E. 8. Fickes, vice president in charge of en- gineering of Aluminum Co. of America, | Pittsburgh, has been elected a director of the company. e R Y S et FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gofd Selling checks Lond a.. " Sids AR ndon, pound.. ......$4. 847 Paris, frane 93 10390 Over a Third Jiiin| of a Century’s e “ “Know-how” to Property Management —and we have had such long and varied experience, that you may be sure there are no unsolvable problems to us. You'll find we're able to get more out of your invest- ment for you than you are likely to get for yourself— especially Apartment House -properties. B. F. SAUL CO. Main 2100 925 15th St. BEFORE you accept a lower return give serious con- sideration to these facts. (1] First Mortgage Bonds offered by The F. H. Smith Company are secured by modern, income-producing city properties. [2] Every issue is by a veloped [3] The liberal 6%2% return will enable you to increase your income. DENOMINATIONS: $1,000, $500, $100; coupons payable semi-annually. Return the form below for Investment Securities — Founded 1873 Smith Bldg., Waskington,D.C. 285 Madison Ave., New York City Branch ofices in Other Cities 1 FINANCIAL. Special Dispatch to The Star. NEW HAVEN, Conn., February 4.— The purchasing power of the dollar re- bounded last week to its position of two and three weeks ago, wholesale commodity prices sagging after three weeks' consecutive increases. The most spectacular price change of the week was in cotton, which suffered its worst break of the season. European prices were steady, slightly weak in England, inclined to strength in France. Fluctuations in the general whole- sale price level and in the purchasing power of the dollar are given below for the United States for various pe- riods, based mainly on Dun's quota-) tions. The average for the year 1926 is the bas: used. ‘Whole- Purchasing power; ‘Week ended— February 1 January 25 January 18 December average November average October average September average. . August_average. July “average January average 1928 average SN N AP D AR IR NS DO a average. average aver. S o0no0n00eneeee00 o 322523882328823323335! 333 et o average. Foreign Commodity Prices. Cable reports from abroad indicate the following European wholesale move- ments: (1926 == 100) Week ended— February 1. January 25 January 18 January 11..000 January 4.0 Year ago..:. December average November averaze England, 1taly. 23.0 1 France, aamaa average 1273 average. 1927 average. .. B 23] 1026 average. X X (Copyright, 1929, by Irving Fisher.) SHORT-TERM SECURITIES. W. Seligman & Co.) (Reported by J. & eligman & Co) Allis-Chalmers Co. 55187, Aluminum Co. of Ame: 1952 . -Corp. Canadian Nat Rwy. 412s 1930. . Canadian Nor. Rwy. 4las 1935. e hio Rwy, 4las 1930, Chicago Rock Island 4s 1934, Colorado & Sou. Rwy. Columbia Gas & Elec. 5s 1 Cudahy Packing Co. 5% Edison El Il Boston 4! Gen. Mot. A 97% s Pure Ol Corp. 5V Shell Union Oil Co. 5s Sinclair Crude Ofl 5%s 1938.0 Pac. R. R. 4s 1920 ] OIl N. Jjersey 5% 1946 . L., Ir. Mt. & So. Ry. 4s 1929 Swift & ‘Co. s _18 3 Union Oil Co. Calif. Western Eleetric Co Westinghonse E Wheeling Steel Corp. s 193500 55 1944 M. 5s 1945 10434 s 1043, 100%% The numk>r of steamships in thr‘ world using oil for fuel has increased to more than 3,500. and there are more than 1.300 motor ships. 7 Money for'fi \" i \First Mortgages / Our Loan Depart- ment is prepared to make loans of any re- quired amount upon approved application for building, or re- financing a maturing trust. Always Low Rale of Interest and Commission B. F. SAUL CO. \Mnm 2100-—925 15th St. MARYLAND CROP VALUES SHOW DROP DURING YEAR Spectal Dispatch to The Star. BALTIMORE, PFebruary 4.—The ag- gregate vaiue of 21 important crops pro- duced in Maryland declined about 17 per cent in 1928 from their value in 19217, according to a report of S. R. Newell, Maryland statistician of the '!.Jnlud States Department of Agrieul- ure. Total production of wheat for the year amounted to 8,746,000 bushels, with a farm value of $11,106,000, while corn totaled 19,345,000 bushels, but the higher prices brought the value up to within slightly more than $1,000,000 of the previous year, despite the fact that the yield was over 3,000,000 bushels less. The production of oats is placed at 1,701,000 bushels, while barley and rye both declined, the former totaling 403,000 bushels and the latter 225,000 bushels. Potatoes was one crop showing an in- crease over last year, production being | placed at 5,405,000 bushels, but owing to the low prices prevailing most of the | year the farm value declined $2,806,000 jor nlver one-half of the previous year's total. Leaf tobacco totaled 21,700,000 pounds, {a decrease of over 5,000,000 pounds. Oa | the basis of an estimated price of 13 | cents a pound, the return for the 1928 crop will be about $2,000,000 less to the growers in the five Southern Maryland | counties than for the 1927 crop. ‘The apple crop, as a whole, was con- siderably larger than that produced i 1927. However, the change in the com- mercial crop was not as great. Total apple production was 442,000 bushels. Peaches were a disappointment to growers on the Eastern Shore, due to late frosts. However, Western Mary- |land made up enough of the loss to bring the production up to 465,000 bushels. Truck and canning crops, as a whole, were less profitable than in 1927. Straw- berries, due largely to bad weather, re- | sulting in poor quality, declined about two-thirds in total farm value. Tomo- toes were damaged by storms and dis- ease; yields fell to nearly half of the 1927 vield, snd. in spite of somewhat better prices, the total farm value de- clined to less than half the 1927 value. Sweet corn, peas, aspdragus, cabbage land snap beans and spinach for manu- facture were apparently the only two truck crops that held up to or bettered the 1927 value. Coal Plant Started. | NEW YORK. February 4 (#).—Le- high Valley Railroad has started con- struction at Jersey City, adjacent to the Holland Tube and Pennsylvania Ralilroad ferries, of a coal plant of 500,~ 000 tons a year capacity for Burns’ Brothers and for exclusive distribution of Lehigh Valley Coal Co.’s anthracite. Money to Loan ... for refinancing or buildii;g No matter how large or small |the loan, you'll find us ready to serve you promptly and at reason- | able rates. 4 This company will make quick ccision on your loan request. i Just tell us how much you néed | for refinancing or building, the | approximate valuation of the property and we’ll do the rest. | REALESTATE MORTGAGE & GUARANTY | CORPDRATION Capital Resources § 3,400,000 24 JACKSON PLACE TR SR TR e SR SAITS FIRST TRUST NOTES to yield (TR AT Ample 6% In Amounts From $100 Up WARDMAN 1437 K Street N.W. Main 3830 Funds! “A 7O MATTER how large your requirement, you will always find available here the funds to cover your First Mortgage needs Our service is prompt, co The interest rate is § 12 %. on Improved Real Estate. nscientious, and thorough. In the case of mortgages of * less than $50,000 you retain the privilege of paying off the loan in whole or part on any interest date. First Morigage Loans on Homes. Apertmentr oud Business Buildings, in D. C. and nearby wwburbs im Marylend. HLRust Company 1001-15* Street N.W. e Prudential