Evening Star Newspaper, February 7, 1929, Page 14

FIN JENKINS IS NAMED - AS BANK DIRECTOR Washington Inventor and Scientist Joins Board of Merchants’ Institution. 14 *3% BY EDWARD C. STONE. €. Francis Jenkins, world-famous in- ventor, was elected to the board of di- rectors of the Merchants’ Bank & Trust Co. at a meeting of the board late yes- ‘ferday. Mr. Jenkins - Invented the mo- tion picture pro- Jector which now in use in pic- ture theaters all over the country. He also invented television, the most stariling discovery of the kind yet made. The Washington Inventor and scien- tist has produced a host of other na- tionally known in- ventions, research work in the Jen- kins laboratories having attracted attention for years in every corner of the scientific world. At the same meeting the directors elected W. H. Martin, jr, assistant treasurer. Mr. Martin has been with the Merchants’ Bank for many years and held several imporiant positions. President Peter A. Drury left Wash- Ington today for a six-week stay at AMiami, Fla. Otterback Made Loan Official. Maurice Otterback, president of the Anacostia Bank, was elected vice presi- t of the Eas'ern Building and Loan | \xociation at the fortieth annual meet- ing of the directors, held yesterday. The ather officers are Alexander McKenzie, oresident: George Repetti, treasurer, and William M. Payne, jr. n addition to the officers t! “irectors includes: g James J. Hayes, William H. Yost, | villiam H. Harmer, Clarence F. Dono- hoe and Walter H. Marlow, jr. The president reported an unusually success= ful financial year. Trust Section Keeping Busy. ! The next meeting of the trust section »f the District Bankers’ Association will toke place Wednesday, February 27, at bankers’ headquarters. At that time several important committee reports will be presented. The trust law and legislation commit- %~ has recently asked the banks of ‘Washington to offer any suggestions by which it is believed the handling of frust matters in this city may be facili- foted, Several constructive suggestions are almost certain to follow this inquiry. ‘Washington Gas Sells at 110. . Washington Gas Light stock sold at 0 on the Washington Stock Exchange ‘nday, off 15 points from the price pre- “ailing just before the annual meeting “~st-Monday. Today's sales totaled 53 sares. The market closed with 107 bid ¢ad 110 asked. Riggs National Bank stock figured in . = good-sized turnover today at 578 and 781,. Ten shares of the Bank of * ~thesda’ stock changed hands at yes- -rday’s new all-time high mark of 77. ~deral-American National moved at Wm. C. Redfield. Capital Traction sold at 106%, Wash- 1gton Railway & Electric preferred at 9% and Potomac Electric 512 per cent ireferred at 109%. This corporation’s 6 s=r cent preferred sold at 113. Mergen- “aler registered 1041;. National Mort- age & Investment preferred sold to the ztent of 100 shares at 5%. In the bond division four $1,000 sales 1 Railway & Electric 4s took place at 3%, 9815, 98% and 983;. Barber & ~0ss 615 brought 94. Capital Traction 5 closed with a $3,000 bond selling at 0015. A $500 Gas B moved at 10622. Redfleld to Head Big Bank. William C. Redfield, former Secretary «t Commerce, has been elected presi- ‘ent of the Brooklyn National Bank of “iew York, the largest independent bank ‘n Brooklyn. It is to open on March 15 with capital and surplus of $1,000,000 rach. The stock hos already been so heavily oversubscribed that the. allot- ™m>ant committee will not be able to re- port for 10 days or two weeks. There have been 4,200 applications for the 3°ock. Former Secretary Redfield has been ~lesely igentified with finance ever since left his cabinet seat soveral years 59. Drive Result Pleases Bankers. Local bankers were delighted that the Community Chest drive went over the top. Some of the leading bankers in the city have been given the major part of their time to this campaign for sev- eral weeks, and are being accorded highest credit for the results. In ad- tion to the work in connection with ing the funds, the newly orgahized euditors’ section of the District Bankers' | g Association has spent a great deal of t'me in auditing the accounts turned in from so many different quarters. G Heard in Financial District. Charles J. Bell, chairman of the board of directors of the American Se- curity & Trust Co., is planning an early visit to Florida. Elie Sheetz, director in the Bank of Commerce & Savings, has gone to Hot Springs, Ark., for a six weeks’ visit. Charles B. Lyddane, vice president of the Federal-American National Bank, is leaving today with a party of golfers from the Columbia Country Club for a 10-day trip to Lakeland, Fla. F. P. H. Siddens, secretary of the| American Security & Trust Co., left the city today for a two-week business trip to New York and Boston. Edward L. Hillyer, vice president of the Union Trust Co., continues to show steady improvement at Emergency Hoc-‘ pital, where he has been for many weeks following two critical operations. Boardrooms Packed to Doors. Local boardrooms were jammed to the doors when the New York Stock Dxchange opened for business today. ‘The cause of the exceptional interest was the statement issued over night by th> Federal Reserve Board sounding a warning over the continued expansion of loans in Wall Street for speculative purposes. The substance of the state- ment appears elsewhere in The Star. Market quotations were much lower at the opening. STUDY OF U. S. CREDIT SITUATION IS PLANNED By the Assoclated Press. NEW HAVEN, Conn, February 7.— Flans for an investigation into social and economic causes of business fail- ures in the country have been adopted by Yale Law School, Dean Robert M. Hutchins announced. Field investi- gators of a number of geographical divisions, each of which reflects social and economical trends, will study the credit system. The social and economic effects of the failures will also be a part of the study, as well as the legal and non- legal methods of preventing them and of curing the resultant disorders. The Law School hopes to point out prac- tices existing in the handling of bank- ruptcy cases which credit men and legislation can adjust. ‘The investigation will begin within a vs, starting with Philadelphia. are obiained the study will in- the New England States, New the industrial and agricultural gections of the South, the mining and sgricultural sections of the Middle West and the States on the Plcmikan:Cnl {7 Coast 3 XL Conley. Tinso). 5 ANCIAL. Open. High. Low. Close. Abitibt Power, 48% 49 4Th 49 Apitibt Po pf( 85 8 85 8 Adams Exp(6).. 395 899 390 Adams Miilis(2) 325 Adv Rumley. . Adv Rumley pf., 64 Ahumada Lead.. 4% Alr Redetn (13). 106% 107% Ajax Rubber.... 92 9% Alaska Junea... 7% 8 Alleghany Corp. 31 31% Alleghany A 5% 1021 102t 101 101 Allied Chem 285 289 284 288 Aliied Cm pf(7). 1221 1224 1224 1224 Allis-Chalm(7). 178 1781 178 178 - 3% Amal Leather... ) Amerada(2).... Am Agricul Chm Am Agri Ch pf.. Am Bank N(13). Am Bk N pf(3).. Am Beet Sugar. . Am Bosch. 41% Am Br Sh(J1.60) 53 AmBShoe pf(7). 1225 12 Am Brown Bov.. 20% Am Brown Bopf _73% Am Can (14).... 1102 114% Am Can pf(7)... 1411 141 AmCar&Fdy(6). 97y 97 Am C& F pf(7). 116% 116% Am Chain pf(7). 78 80 Am Chicle (2).. 53 54 Am Drug (60c). 10 10 Am Express(6). 290 290 Am & For Pow.. 89 971 Am&ForP p(7) 107 107 Am&For P24 7.. 99% 99% {Am Hide & Lpf. 30 307 Am Home Pr(3). 78% 79% Am Ice (12%)... 414 41l Am [ce pf(6).... 93% 934 Am Internatl 2. 141 141% 193 Am Internat(n). 71 71 70 Am LaFr&Foam 7% T4 7 Am Locomot(8). 104 107 104 Am Loco pf(7).. 116 116 116 AmMa&Fy(4). 178 178 1 Am Metals(3).. 73 76 Am Metals pf(6) 12 32 201 68 101 67 204 68 129 1 604 6014 18% 181 421 41% 604 18% 5214 10 290 107 116 | Am Nat Gas pf 7 Am Piano p 4 Am P &L (11).. 100 105 AmP&Lpfstab. 831 8Bu% Am Radiator(3) 193 19, Am Ry Ex(6)... 140 140 Am Republie: bup 524 Am Saf Raz.r 70 70 Am Seating(3).. 35 35% Bdn Am Ship & Com. 6% 6% 6l Am Sm&Ref(4). 114 118% 113% 1 Am S& Rpf(7). 135% 135% 135l 1351 Am Snuff (12)... 203 204 202 202% Am Snuff pf(6).. 108% 108% 1084 10815 Am Stl Fdys(8), 71 3% 704 70% Am Stl Fy pf(7). 112 112 112 Am Sugar. . 89% 8§9% 8713 87 Am Sugar ). 110 Am Sumatra(3). 55 Am Tel & Ca(5). 20 Am Tel & Tel(9) 214 Am Tobacco(8). 177 Am Tobac B(8). 180 Am TypeFo(8).. 1 AmWW&EIl(cl). Am Woolen 2 Am Woolen pf.. Am Writ Pa ctfs Am Writ Pa 6 pt Am Zine. Am Zine p! 104 Anaconda (7) 125% 127'% 124% 125 Anchor Cap. . 53ls 65% 53 5 Anchor pf (6%). 116 116 116 Andes Copr 76e.. 50% 50%% 49% Archer Dan (4).. 99% 99% 96% Arch-Dan pf(7). 114 114 114 Armour Del pf 7. 94 94 94 Armour Ill(A).. 16% 16% 16% Armour III(B).. 8% 8% 8% Arnold Con&Co 337 33% 33 Art Metal(1%). 29% ' 20% AssoDryG(2%). 62 Asso D G 2d(7).. 106 Ass0 Oil(2)....0 46 6 Archison(10)... 200% 201 198! 198% Atchison pf(5).. 103 103% 103 103 Atl Coast L(110) 185% 185% 1854 185% Atl Gulf & W1 36l 35% 35 35% At GUIfpI(3).. 47 47 47 47 Atlantic Ref(1). 56 56% 554 55 Atlan Ref pf(7). 116% 116% 115'3 115 AtlasPowder(4). 106% 106% 106 106 Atlas Pow pf(6). 105% 105'%a 105% 105% Aulas.Tack..... 12 12 12 12 Austin-Nichols. 7 Aus Cred(4.49).. Auto Sales...... Auto Sales pf(3) Y 384 Y Autostrap A(3). 45% 451 45% 45 Bald Loco pt(7). 117 117 117 117 Balto & O(6).... 122 123% 121% 123 Balto&Opf(4). 79 79 .79 19 Bambgr pf(6%). 109% 110 109% 110 Bang & Ar(3%). 67 67 67 67 Barker Bros(2). 32 32 Barker pf(6%). 97 97 Barnsdall A <2). 40% Barnsdall B (2). 404 Beacon Oil...... 20% 204 Beecn-Nut (3).. 934 Iy Belding-Hemwy 1244 124 Belg N R pf(16). 823 Best & Co(3).... 86% Bethlehm Sti(4) 864 Beth Steel pf(7) 122 Bloomingdale 47 471 a7 Bon AmiA(4).. 84% 841 8415 Borden Milk(6). 189 192 189 Booth Fisheries, 9 53% 14 5 45 4t 1003 103 83 83n 193 193 140 140 50% 691y 0 & 179% 1764 1 180 176% 177% 145 143 143 841 82% 54 24% 233 23% 8312 62 13 13 43 41% 38 37 49% 97 114 94 16% 8y 33 294 106 4 81 190 Booth Fish 1st. Botany Mills (A} Briggs MfgFCo. British Emp 2d.. Brockwy Mot(4) Bklyn-Man(4).. 75% Bklyn-Man pf(6] 904 BklynUnGas(5). 185 BrownShoe(2%) 44 Burns BrosA(8) 117 swick B(3) s Brunswick Ter, Bucyrus(1).. 3 Bucyruscv(2%) 48 4B% 46l 46% Bucyrus pf(7).. 115% 115% 115% 115% Buff&Sus pf(4).. 594 593 59% 59'a Burns Bros(B).. 34% 34% 34% 34% Burroughs (15). 243 243 240 240 Bush lerm(g2). 79% 81 8% 719 Bush Ter pf(7). 115!s 115! 115% 115! Butte Cop & Zino &% 8% Butte & Sup(2). 10's 10% Butterick Co.... 35% 35l Byer & Co.. .« 151% 15 1474% 147% Byers A M(rts).. 13% 1 1% 11% By-Products(2). 118% 118% 116 116 Calif Pack(4)... 76% 77 76% 76% Callahan Zinc... 3% 3% Sl 3h Calu & Ariz (6). 130 130% 128 128 Cal & Hecla(4).. b1k 56k 54% Can Dry «14%). 79% 81 8 T Can Pacific(10). 246% 251 246% 251 Canon Mills 2.80. 45 45 45 45 (Case Threshg(6) 450 4543 450 454%% Cavanah Dobbs. 36% 38 36 % CavDobspf 6%. 104 104 104 104 Celotex Co (3)... 74 T4% 724 72% Celotex pf (7)... 92 93% 92 933 Cen Aguirre(2). 43% 43% 41% 42 Cent Alloy:2)... 4Th 48% 47 47% Century Rib M., 17% 17% 17% 17% Cerrode Pas(5). 106 108% 106 107% Certain-teed Pro 24% 24% 24% 244 Certo (t4).....0 851a 81 Ches & Ohio(10) 215 216% 213 C& O Corpn(3) 5 85 83% Chi & Alton. 15% 15% Chi & Alton pf.. 214 ChiGreat West,. 20's Chi Gt West pf.. 58% Chi Mil & StP.. 36% Chi Mil & StPpf 59% Chi& Nwn (4).. 90% 90% Chi PTpf(3%).. 55 5 Chi,RI&Pac(8).. 132% 13315 13 Chickasha(3). 461 46% Childs(2.40). 55 Chile Cop (3% Chrysler(3). City Ice (3.60). City StoA(333).. City Stores new. 2% 25 City Stores(rts). 5 5 5 Cluett-Peab(6). 61 64 63% 6 Cluett-Pea pt(7) 115% 115% 115% 11 Coca-Cola(6)... 132 133 132 13 Coea-Cola (A)... 49 49 48% 48% Colilns & Ailkmn. 52% 53% 52 52 Col Fuel & Iron. 704 70% 67 684 Col & Southn(3). 116% 116% 116% 116% Col Gas & EI(5). 148% 149% 146% 146% Col Gas&El new. 61% 61% 60 60 Columbia Graph 70% 75 0% T1% ColCarbon t43%. 140 145 139 140 Com Cred(1).... b2% 52% 51% B51% Com Credit(rts), 3% 4 3 Com Cristpf 6% 102 102% 102 102% Com Inv Tr (4). 183l 184% 178% 181% Com Inv (war).. 54% 54 51% & ComInTrpf6l% 96 96 96 Com Solvnts(8). 226 232 226 Com Power(13). 118% 119% 117 Condo Nast(2).. 85% E5% 85% Congoleum-Nair 30 30% 29% 85% 7% 85 14 - 14 53% 15% 66% 8% 4 10% 10% 8 35 84 213% 83% 106% 110% 106% 106% 61 60's 60 50 50 117% 8 29% 870 Bt _ __'THE EVENING STAR,” WASHINGTON, D. O NEW YORK STOCK EXCHANGE Consol Cgra (7). Con Kilm pf(2) Consol Gas (3) ConsolGaspt(5). ConRRCuba pf 6 Container A 1.20 Contatner B 60c. Consol Textile. . Cont Baking A.. Cont Baking B. Cont Bak pf(8) Contl Can (2%). Cont Can pf(7) Cont Insur(6)... Contl Mot (80c) Cont Motors rt Corn Prod 3% Coty, Inc (§2). Crex Carpet. CrownWP1stpf7 Crown Zelrbek 1 Crucible Sti(5).. CubaCaneSugar. Cuba Cane Su pt Cuba Company.. 4| Cuban Am S(1).. Cuba R R(4.80). Cuban Dom Sug. Cudahy Pkg(4) Cudahy (rts)... y Curtiss Aerot Cushmann pf(7) Cutlr-Ham(3%) Cuyamel Frait. ., Davison Chem. . Debenhms(2.91) DeereaCo pf(7). Del & Hud(4) Del L & W(t7) Den RG Wn pf.. Detroit Ed(8). .. Devoe A (13.20). Diamond M (8). Doma Mines(1). Drug (ne(4). Dunhill Int ($4). Dunbill (rts) Dupont (new).. Dug Lt 1st(5). .. Darham Hos pf. Eastman(18)... Eastman pf (7). Eaton Axle (3). itngon 2t ). . ilec Auto L (4). Eiectric Boat. .. EiecPow&Lt(1), Elec P&LE pt(7) &LDf 40% (7) Slec Stor B (5). . Em Brantgm(A) Emmerson B pf. mp Capwell(2) nd-John(5). ... ndicott pf(7).. ng Pub S(m1). Eng Pu S pf(5). Equit Bldg(2).. B E Fairbanks(3)... FairbankMpf(7) Fed Lt&Tr(3%). Fed Min pf(7).. Fed Mot T(80c). Fidelity-Phoenx Filine's (614 ) Filene's pf (6 First NatS(14). Fisk Rubber.... Fisk Rub 1st pf. Fisk R 1st pf cv. Fleischman t3% Florsheim (A).. Florsheim pf(6) Follansbee 121 . Foundation Co Fox Film A(4) Freeport T (4).. Gabriel Snub A.. Gardner Motor. . Gen Am TC(§4). Gen Asphait. . Gen Asph pf(5 Gen Bakg pf(8). Gen Cable. . Gen Cable A(4). Gen Cigars(4) Gen Electric t Genklec sp(6oc) Gen G&EI A(12) Gen G&EI B(12) Gen Gas pf B(7) Gen Ice Crm(3). Gen Mills (3)... Gen Mills pf (6) GenMotors...... Gen Qutdr Ad(4) GenOutdrAd(2). Gen Ry Sig(5).. Gen Refrac(s).. Gillette S R(c5). Gimbel Bros. ... Gimbl Br pf(7 Glidden (11%).. Gobel (Adolph). Gold Dust (new) Goodrich(4) Goodyear Tire Goodyr 15t pf(7) Gotham H (2%). Gothmnv(23%). Graham-! Grhm-Paigy Granby (6)..... Grand F&W (1). Grand Unon..., Grand Un pf(3). Grant W T (1).. Grt North pf(5). Gt Nor pf cfs(5) Gt NoOr cfs 2% . Grt Wn Sug 2.80 Grt Wn Su pf(7) Greene Cana (6) Guantanamo Su. Gulf Mo & Nor. . Gulf Stat St1(4). Hacknsk W (1%) Hack W pf(1%) Hahn Dept Stor, Hahn DS pf 6%. Har & Walkr(2) Hartmn B(1.20)., Helme Geo(17). Hershey Corp. .. Hershey pf(4).. Hershey pr pf(6) Holnd Fur(2%). Hollander & Son | Homestake(17). Household(14)., Houston Oil. .. Howe Sound (4). Hud Man(2).. Hudson Mot(5). Hupp Mot(£2).. Illinols Cen(7).. Ind O & Gas (2). Indlan Mot (1)., Indian Refining. Indian Refg ctfs Indust Rayon. . Inland Stl (3%). Inspiration (3).. InterboroRapTr. InterconRubber. Internat Agri Int Ag Ch pf(7). Intl Bus Ma (5). Int Cement(4). . int Com Eng(2), Int Comb pf(7). Int Harv (2%). Lot Harv pf(7). Int Mtch pf 3.20. Int Mer Marine. int Mer Mar pt Int Nickl of Can. Int Paper(2.40) . Int Pa&PoA2.40. Int Papr & Po B. Int Papr & Po C. Int Pa&Po pf(7) Int Prig Ink 2%. Int Ry CA pf(5). Intl Salt(6)..... Int Tel & Tel(6). Interstate D S. Intertype(t1% lowa Central. Island Creek(4). Jewel Tea (15).. Johns-Manv(3) Jordan Motor, Kan City South.. Kaufmn DS 1%. Kayser J(5). Keith-Albee Keith-Al pf(7) Kelly-Spring. .. Kels Hayes(2). Kelvinator Cor] Kinney (G R) Kinney pf(8).. Kolster Radio. .. Kratt-Pho(1%). Kresge (1.60). . . Kresge SS pf(8). 1% - Kresge Dept S.a1-20 Open. High. Low. Close. 9Ly 27% % 124% 87 23% 1 &7 27% 100 88 . 157% 121% 5Tl 158 9% 120 70 0% 37 15814 13% 57% 108% 132 861 16% 10% 27 ki 121 56 94 3414 687 464 487 109% 50y 100 19% 101% e '2). 106% 66% 174 66 100% 648 48's 91 49% 28 15 90 1% 1124 138 52 106% 68 114 83 94 108 108 86 9% 81 49% 331 9974 80 119 43% 83l 4l 60% 72 9414 124% 133 109 105% 834 381 119 91y 254 s 243 8714 23 1 1 87 2% 27% 100 23% 881y 5 16% 23% 1 89y 5la 6274 1% 1611 121% 62 5914 158 9% 122% i 0% 37 160 13% 59% 108% 132 46 487% 109% 80% 100 19% 101% 91y 106% 674 17% 664 100% 65 49% 9L 49% 307% 194 93 il 112% 138 53% 108% 108 86 97U 82U 49% 334 101% 804 119% 44 84% 414 Glidden pr pf{7) 1047 104% 61% T4% 94% 126% 1031 133 109% 105% 3418 38% 119 172% 175% 144% 30% 24 33% 1% 126% 85 83 157% 92% 85k 113 105 154 220 13 90% 117% 20% 56% '16% 531 99 63% 35% 86 113 1445 80% 24 33% 820 26% 8514 49% 50% 11 16 83 59% 94k Ny 13 106 1 1 T9% 30% 4 55 154 224% 13 1% 117% 20% Kelly Tire 8%pf 88% 88% 5% 17% 54% 99 64% 35% 864 113 - 91 26% 4 Kennecott (8)... 155% 158% 154% 8! 13 20 . ‘85 113 91% | Kress SH(h1%). 110 26% | Kreuger & Toll.. 39% 108% | Kroger Gro(el). 110 Lago Oil.... Lambert (17)... Lambert (rts)... Lee Tire & Rub. . Leh Por Cmt 2% Lehigh PC pf(7) LehighVal(3%). *| Lehn & Fink(3).. Lig Myers(t5).. Lig & Myrs B t5. P;ml Locomtve. Aq i 68 20 9 an Loft...ee.e Long-Bell(A) Loose-W(1.60).. Lorfllard Co.... Loulsiana Oil... Louis GasA 1.75. Louts & Nash(7) Ludlum St ctfs. Ludlum S pf 6%. Mac And($2.35). Me Call Corp(4). McCrory A(2).. McCrory B(2).. | McKeespt Tin P1_ McKes&Ro 1.60. McKsn pf A 3% Mack Truck(6). Macy O (€2)... Mad Sq Gar 1%. Magma Cop (4). Mallison & Co... Manati Sugar... Manat! Sugar pf Mandel(2%).... Man Elec Suply. Man El m2g(d5) Man Shirt(2)... Maracaibo Oil... Market St prior. MarlanOil...... Marlin-Roe t3% Marmon Mot(4) . Martin-Parry... Mathieson(6). .. May Dept S(4).. Maytag (12) Maytag pf(3). Melville Sh 1.10. Mengel Co...... MetroG pf(1.89) Mexican Seab... Miami Cop (2).+ Mid-Cont P(2).. Mid-Cont pf(7). Middle State: Mid States ¢ Midland pf(t1: Mtller Rubber... Minn & St Louis MStP&SSM 1i(4) Mo Kan & Tex.. Mo K&Tex pf(7) Missouri Pacific. MoPacific pf(5). Mohwk Car 2%. Mont Ward 2%.. Moon Motor. Mors&Esk (3 Mother L (40¢). Motor Meter A.. Motor Prod(2).. Motor Whi (2).. Mulhns Mfg. . Mullins pf (7). Munsingwr(3).. Murray Corp. Nash Motors(6). ash & Chat(7). Nat Acme (1)... Nat Bellas Hess. Nat] Riscuit(17) Nat Cash Reg t4 Nat Dairy (33). Nat Dept Stores. Nat Distiller: at Distiller: Nat Ld pf B(6).. Nat Pow&Lt(1). Nat Radiator. Nat Ry Mex 2d.. Nat Supply (18). 6 Nat Tea(4). 3 Nevada Cop (2). N ¥ Alr Br(3) N Y Central(8).. N Y CStL pf(6). N Y DocK..ouu.n N Y & Harlm(5) NYNH&Hart(4) NY NH&H pf(7) N Y Ont&Westn N Y Railways pf N Y Stm pf(6).. NY Stm 1st pf 7. Norfolk Sou 2% . Norf & Wn(110) NorAm bl0 % stk North Am pf(3). No Germn Lloyd North Pac(5)., Nor Paccfs(5).. orthwn Tel(3). orwalk Tire... 011 Well Supply. Omnibus.... Omnibus pf(8).. OppenhmCol (4). Orpheum pf(8).. Otis Elev (6). Otis Steel. Otis Stl pr Owens Bot (c4). Pacific Gas(2).. Pac Lightg (3).. Pac Oli Stubs... Pac Tel & Tel(7) Pac Tel & Tel pt Packard (13%3).. Pan-Am Petrolm Pan-Amer Pet B handle...... Paramount-F-L Park & T1(33).. Park Utah(80c). Pathe Ex. . Pathe Ex(A).... Patino M(a3.89). Peerless Motor. . Penick & Ford. . Penn Dixie Cmt. Pere Marq (18).. Pere Marq pf(5) Pere M prior(5). Phila&RC&1. Phil Morris(1).. Phillips P (1%). Phoenix Hoslery Pierce-Arrow... Pierce-Arrow pf Pierce Oil.... Pilsbury (1.60)., Pirelli of Italy.. Pitts Coal.... Pitts&WVa(6).. Por RicoToA(7). PortoRIcoTobB. Postal T&C pt 7. PoStum(3)...... Prairie O1l&Gas. Prairfe Pips L. .. Pressed Stl Car. Pr Stl Car pf(7) Produ & Refinrs. Public Serv 2.60. Pub Serv NJ rts. Bub Sery pft(z;“ Pub 8 NJ pf(7).. Fub 8 NJ pf(8).. Pullman Co(4).+ Punta Aleg Sug. Pure Ol (1).. Pure 011 p£(8) Purity Bak(3) Radio Corp. Radio (new) RadioCo pf(3%) Radio-Keith(A). RSCefs(4).... ReadingRy(4).. Reading 1st(2).. Real Siik Hos. .. Real Silk pf(7).. Rets(R)& Co.... Rels 18t p£(7)... Remingtn-Rand. Reo Mot (t1). Repl&S(4).... Rep 1& S pf(7). Reynolds Spngs. Rey Tob B t6 1 Reynolds B n¢ RhineWE(1.92). Richfield O11(2). Rio Grande Oil.. Rossia Ins 1635 . Royal Bak P(1). Royal D(a3.222). 60'% 3% St Jos Leaa:13). 175 StL & San Fr(8), 118 20 . StL&SanF'pL(6), 95% Open. High. 110 39% 110% 28 134% Low. 110 38% 107 27% 112% 112% 103 10% 155 151 61% 604 55% 55% 43% 424 37% 36 240 240 35 33% 52 50% 177% 175 8% 75 1197 118 5% 9% Close. 110 3814 Received by Private Wire Direct to The Star Office — Open. High. StL&Southwest.. 102 7 Savage Arms(3). Seagrave(el.20). Sears-Roe(32%) Seneca Copper. Shattuck FG(2). | Shell Un(1.40).. Shubert The(5). Simmons Co(3). SimmsPet(1.60) Snider Packg Co Snider PKg pf... So Por Rieo(2).. Soutih Por pf(8). South Calif Ed South Dairfes A. South Dairies B. South Pac(6). South Ry (8) South Ry pf(5 Spang Chalfnt.. Spicer Mfg.. Spiegel Co (3). Stand Com T(1). SG&E (3%). Std G & E pf(4). Std Milling (6). Std Milling(rts). Std O of Cal(13) StdOIINJI(11% ). StdO:INY (1.60). Std Plate Glass.. Std P Glass pf. Std San M(1.68). Staniey Co...... Stewart-War(6) Stromberg (3).. Studebaker(35). Studebak pf(7).. Submarine Boa. Sun Oil (g1). Superior Oil. Sweet of Am(1). Symington. ..... Symington Cl A. Telautogrph(1). Tenn Copperd1). Texas Corpn(3d). Tex Corp full pd TexasGulfSul(4) Texas & Pac(5). T&P C&O(b2%) . Tex Ld Tr(new) The Fair(2.40).. Thomp J R(3.6! Thompson(rts).. Tidewater AsOil TidWA=OIlIpf(6) Tide W Oil pf(5) Timken Roll B.. Tobac Prod (8). Tobac Prod A(7) Tob Prod ctfs B. Tob Prod cfs(C) Transcont Oil. .. Trico Prod(2%) TruaxTraer C... Truscon Stl 1.20, Twin City p(7). Undwd-El F (4) Un Bag & Paper. Union Carb(6) Un O11 Cali2). Union Oil (rts).. Union Pac(10).. Un Pacific pf(4) Union Tank(5).. Utd Blscuit 1.60. Utd Cigar St(1). Utd Elec Coal... Utd Fruit(153%). US CastIr P(2). US CIP 1st 1.20. U S Distributing U S Distrib pf(7) U S Expres: U'S Hoffman(4). U S Aleohol (8). USlndAlcopf(7) US Leather.... U S Leathr A(4) S Lea pr pf(7) Realty(4).. Rubber. . Rub 1st pf.. Smelt(3%) Sm pt(3%) S Steel(7). U S Steel pf(7 U S Tobacco(3). Uni Leaf Tob(3) Uni Pic 1st pf(8) Univ Pipe & Rad Uni Pipe pf(7). Ul P&L Ace2) Vadasco Sales. .. Vanadium (T4). Vick Chem(4)... Victor Talkg(4). Victor pr pf(7) va-Caro Chem. . Va-CarCh 6%pt. Vulcan Detin Vule Det pf(7. Wabash pf A(5). Waldorf(lis). Walworth(1.20) . Ward CIA(8). Ward Baking B Ward Bak pf(7). Warner Bros Pic Warner Bros pf. Warner-Qu(z).. Warrn Bros (15) Warren F&Pipe. Web & Heil Webstr-Eislohr. Wesson O1l (4) .. W Penn El pt(8) West P Po(6)... West DairyA (4 West Dairy B... West Maryland. West Pacific. ... West Pacific pf. . W U Teleg (8) Westnse A B(2). Westinghse(4). . Weston Electric. Westun A(2).. White Eagle(2). White Mot(1)... White Rock (3). White Sew Mach Wilcox Oil & G, Willys Ov c1.20. Willys-Ovd pt 7. Wilson & Co. Wilson Co pf A Wilson & Co pt. Woolworth (6).. Worthn Pump. . Worth Pump(A) Worth Pump(B) Wright Aero(2). Wrigey ((13%). Yale&Towne(4). Yellow Truck... 38% Young Spring.. 59 Youngstn Sh(5). 110% 110% 110% Hourly Sales on N. ¥, Market. 10:30 am. 1,328,600 12m. 1:30 p.m. 3,544,300 2:15 p.m 4,482,800 Divi 7 n in the above table latest quarterly or half-vearly declarati us 4% 1n stock. legs than 1 $3 in preferred stock. 1/25 in a Paid this year—no regular rate. c Plus 5% in stock. d. e Payable 18% 18% 15% @ 15% 8 3 s s s s s 181 984 al% 12 109 86% 147 115% 86% *152 112% 22% 1n_stocl stock. lus 1/ stock. m Payable 1/10 s United Cigar Stores common 115% in”stoek I Commodity Notes Potatoes. SAN FRANCISCO, February 7.—Re- ports from early potato districts indicate that acreage will be considerably under that of last year, Reductions run from 25 to 50 per cent, according to present intention. Inability to market the last heavy crop at profit is given as the rea- son. m quarterly in eock 5 Pl Steel. CHICAGO.—Steel activity in the Chi- of capacity, with two new furnaces blown in. Automobile, car building, farm implement and pipe industries a¢ count for the heavy demand. Prices are holding firm. Automobiles. DETROIT.—Motor car manufacturers | expect foreign demand eventually to equal that from the United States, ac- cording to John D. Biggers, vice presi- dent of the Graham-Paige International Corporation. His company has in- creased foreign agents RIS IS JOAE, T e e THURSDAY,” FEBRUARY: 7. 1929." 4 STOCKS DEPRESSED BY CREDIT WARNING Sharp Break at Opening Fol- lows Reserve Bank Note and New British Rate. BY GEORGE T. HUGHES. Special Dispatch to The Star. s NEW YORK, February 7.—Respond- ing to the overnight news of an advance in the Bank of England rate and the Federal Reserve statement as to credit conditions, toda~'s stock market broke with great violence. Losses at the opening ran from 1 to 5, 10 and as much as 17 points, the last named amount in General Electric. A partial recovery followed, but it was not sustained, and in the late after- noon the selling pressure was renewed and the market for many issues went | into new low ground on the day. Among the largest declines registered in_the last hour were Johns-Manville, off 21 points at 208, and Radio, off 36 points at 363. United States Steel and || Anaconda both sold at the low of the day toward the end, although there was || a feeble rally just before business ended. The initial declines were severe in (| the extreme. General Electric opened on 11,000 shares at 231, off 17 points. ‘Westinghouse Electric opened 15,000 at || Nash Motors | 148, off 11lg points. opened at 104, off 82 points. United States Steel opened on a block of 20,000 |/ shares at 17513, off almost 6 points. International Combustion opened with 10,000 shares at 85!5, off 8 points. American Can opened for 10,000 shares . at 110'%, off 5!2 points. Selling Is Enormous. These are fair samples of the extent of the break in the active stocks. As a rule, the rails were better suported than the industrials, although they, too, | | felt the force of the selling. Before the gong rang word came from the floor that there were sellers all around the room. Most of the offerings doubtless came from those long of stocks who were thoroughly alarmed by the credit developments, but there was a certain amount of short selling as well. In a few instances a trader would not only sell his long stocks, but as much more for short account. Not- withstanding all that has been said about the large margins required by brokerage houses, not a little of the selling was forced to protect accounts. The early break was so wide that some recovery was to have been ex-| pected. Floor traders and specialists who had taken stocks at the opening vesold them within an hour at hand- some profits. General Electric ran up 10 points from the first sale and at 241 was still 7 points down on the day. The rebound here was probably as pronounced as in any of the im- portant stocks. U. S. Steel came back about 1!; points, and there was much variation between these two extremes. For a time it looked as if the whole market was coming back, but as prices advanced the selling pressure was re- gelv;ed. and only a part of the gain was eld. Some Recoveries. In a market such as today's only in exceptional cases was there any distinc- tion made between issues. Good stocks were sold to protect the poor. Experi-| ence shows that more or less all go down together. Among the stocks, how- ever, which deserve mention as enjoy- ing better supgort than the average was Vanadium. The opening loss in Vana- dium was a little over 4 points, but most of it was recovered by noon. Anaconda, on which the dividend was raised yes- terday, was down a little over 3 points at the start and came back a point or so0. Kennecott had a much larger loss, amounting to nearly 7 points at the opening. ‘The volume was heavy on the decline. In the first half hour sales were 1,328, 600 shares. One has to go back to No- vember 23, 1928, to find anything any- where near equaling it. On that day the first half hour accounted for 1,- 327,200 shares. S SR e County Bond Issue. BALTIMORE, February 7 (Special).— An issue of $500,000 Baltimore County 415 per cent bonds will be told to the highest bidder March 16 by ccunty offi- ciels at Towson. There is considerable interest shown in the sale by local dealers, due %o the scarcity of Maryland county and State securities available at present. e CHICAGO DATRY MARKET. CHICAGO, February 7 (#).—Butter unchanged; receipts, 5,249 tubs. Fggs higher; receipts, 7468 cases; extra firsts, gg;/?‘;qo; firsts, 38a38'2; ordinary firsts, TREASURY CERTIFICATES. 9924-32 99 26-32 9923-32 99 26-32 98 24-3: 96 24 do cago district is now up to 92 per cent Allagroyae om 52 to 500 Wi FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks lue (or par). _today. $4.853 0390% ‘1301 2373 (0523% London, pound. Paris, franc. .. Brussels, zlot; Copenhagen, 261 Oslo, crown’, 12669 Stockholm, crown. 12675 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) d. ~ Offer. Allis-Chaly flstamee ¢ G B1as 4138 1930° rp. 8s 1937 ure. orp. 81 3 Sheli Union Co. 35 1947 Smelair Crude_Oil 51as 1938 Southern Pac. R. R. Co. 4s 193 Standard Ol N.' Jersey 5s 1946 8 L Jr Mt & So. Ry. 4s 1029 Union Oil Co. Calif. 5% United Drug Co. 85 Western Electric Co. Wheeling Steel Corp. A POODDOOOE OOOOOOLO>DPODOOD; St £33 Manhati & Mohawk Car Mills.¢3}, Pere’ Marauette... i spEzaERzEaEE e E3 EesE w8 Joseph 1. Weller FINANCIAL.” Money to Loan~ Secured by first deed of trust on real estate. Prevalling interest and commission. 420 Wash. L. & Trust Bideo 9tk & F N.W. Money Available for FIRST DEED OF TRUST LOANS On Completed Properties and for Construction Use Reasonable Interest and Commi n Rates JAMES F. SHEA 643 Louisiana Ave. N.W. TONIGHT—8:30 o’clock MARKET ADVICE, INC. 80 Wall Street, New York Weekly Stock Market Comments Tonight's Subfect: Fozx Theaters “A” WISV éfim:”’;l:‘;' Oldest National Bank in District of Columbia Profits, Over $2,000,000.00 The Fourth | President —of the United States, James Madison) was oc- cupying the White House when The Metro- politan began business. This veteran bank has been financial friend and adviser to generations of successful Washingtoni- ans, and proffers you the advantages of its sea- soned facilities. 3% Paid on Savings Capital, Surplus & Undivided ’ Natibna.l ' Metropolitan 115 Years 115 Years oa Bank '3 15th St. opp. U. S. Treasury ‘“‘ATIRESUCH AS THE WORLD HAS NEVER SEEN”’ GOODYEAR DOUBLE EAGLE I1t’s on display here! BEN HUNDLEY 3436 14th St. NW. Col. 6041 (At Naon) SAFE EE:R'S4T MORTGAGES FORTUNES ARE FOUNDED ON REALTY INVESTMENTS And there is no form that in- sures greater security, accom- panied by more liberal return than our A Third 69 FIRST MORTGAGES of a The principal is amply secured—and the interest fully assured — both in time and amount. Offered $250 up. F. SAUL CO. 925 15th St. N.W. Century Without a Loss in amounts from B. Main 2100 THERE IS NO SUBSTITUTE FOR SAFETY Inaugural Speeches There were no speeches made at the inauguration of the business of this company nearly sixty years ago and yet the principles for which the company was organized have been steadfast to this day. These principles were founded on furnishing the investor, both large and small, with a safe investment, and our record of nearly sixty years without loss to an investor is a re- flection on how these principles have been upheld. The First Mortgage Notes which are available as an investment for your funds today bear interest at 6% and we have them in denominations from $100.00 up. We would like the op- portunity of talking over your in- vestment plans with you the next time you are seeking a safe market. SWARTZELL, RHEFEM & HENSEY CO ; MORTGAGE BANKERS \111 15 STREET N.W. WASHINGTON D.C.