Evening Star Newspaper, February 14, 1929, Page 13

“+ CURB SPECIALTIES - FIGURE N UPTURN ‘Occasional Rallies Oceur, . but Selling Movement | ¢ Reaches High Point. Special Dispatch to The Star. YORK, February 14.—With the Federal Reserve Bank directors meeting after the close of business to- day the curb market was more disposed to discount the probability of unfavor- able developments in the credit situa- tion than the prespect of a substantial decrease in brokers’ loans. Intermittent rallies occurred after the opening, but there was no denying that the appetite of the speculative public for additional long commitments had been appeased for the time being. Such recent specialty favorites as Libby-Owens Co., Goldman-Sachs Trad- ing old and Gold Seal Electric man- aged to attain new peaks, but their upturn could logically be atributed to the comparatively small supply available for speculative purposes. Heavy liquidation occurred in the wtdlity group. Electric Bond and Share Securities sold down steadily from 2593, 1o 252, before support was encountered. United Gas Improvement, Electric In- ‘westors, Consolidated Gas of Baltimore ®nd others were under pressure. ‘The oils resisted the selling better than most others. Humble held firm following publication of the favorable 1928 earnings statement. Boeing Air & Transport and Keystone Aircraft were f:rfised for sale among the aircraft is- es. Trading started in Electric Bond & Share Company new stock, first sales occurring at 8634, after which it sold up sharply. The trend of this issue turned the market for the senior stock about and more than the early loss was re- traced. Other newcomers were A. Stein & Co., preferred and common stocks, offer: for public subscription at 9815 and 331, Yespectively. The latter issue changed hands at a premium of 5 points from the offering price. The preferred com- manded & premium of more than a point. American & Foreign Power warrants Tallied sharply after midday, more than Tetracing the early 7-point loss. CESIA CHICAGO LIVE STOCK MARKET| CHICAGO, February 14 (#) (United States Department of ~Agriculture).— Hogs—Receipts, 46,000; opened mostly steady; later trade 10al5 lower; top, 10.65, paid for an occasional load of 240-280-pound “weights; butchers, me- dium to_choice, 250-300 pounds, 10.20a 10.65: 200-250 pounds, 10.20210.65; 160-200 pounds, "10.20a10.55; 130-160 fg\agdsb&.'.’finloglo; packing sows, 9.40a .00; pigs, medium to cl - 9‘?%“?& 8,%1:9.65, hoice, 90-130 . Cattle—Receipts, 7,000; cals - Ceipts, 2,500; uneven steady t;u;trorx:g market; largely a specialty affair and Yery narrow and restricted dimension; light yearling getting best action; small x:u:ltshlthe on]lfxl stimulus in the trade; e 8; , 11.253132.15.}, arlings, 13.75; most steers, Slaughter classes, steers, choice, 1,300-1,500 pounds, llg.:l)gglgl;;d‘ 1,100-1,300 pounds, 11.75a14.75; 950~ 1,100 pounds, 12.00a14.75; common and medium, 850 pounds up 9.00a11.75. Fed yearlings, good and choice, 750-950 mnds, 12.00215.00. Heifers, good and choice, 850 pounds down, 10.75313.00; ‘common and mediurh, 8.00a10.75. Cows, ®ood and choice, 8.40a10.00; common and medium, 6.75a8.40; low cutter and cutter, 5.75a6.75. Bulls, good and choice (beef), 9.40a10.75; cutter to me- dium, 7.75a9.40. Vealers, (milk-fed), £00d and choice, 12.25a15.00; medium, 11.50a1225; cull and common, 8.00a é:l‘sn' Stocker and feeder steers, good d choice (all weights), 10.50a11.50; common and medlumbono.cono.so. 17.10; steady. bs, good and choice, 92 down, 15.85a17.15; medium, 14@52?‘5“;%? THE EVENING STAR, WASHINGTON, D. €, THURSDAY, FEBRUARY 14, 1929. NEW YORK CURB MARKET Received by Private Wire Spectal Dispatch to The Star. NEW YORK, February 14.—Following is a list of stocks and bonds traded in on the New York Curb Market today: Sales in INDUSTRIALS, hundreds. High. Low. Noon. 19 Acoustic Prod L 13% 13° 13% 2 Alph: 5134 5013 5134 0165%2 16515 165%a 1105 108%3 103t% 8712 82 87 17 11% 11% 204 2512 9814 d.. 12 Amer Superp Al 9 8075 1 Amer Super 1st pfd. 9 54 Am Super Ist pfd ris 127 2 Anchor_Post, Ba 2 Benson & Hed ptd... 4Boeing A & T 3City Mach & Tool... 3 1 Gleveland Elec “Tium 5 ol P.. 3 Copel Prod A 6 Courtaulds Ltd 1Crocker Wheeler . § Growley Milner . Duz Co A. 53 El Bond & 'S See Cor. B & Sh sec pf new 86% ) 1 1 P & L optl war. Y lec Shovel C pt pid. 58!s 5624 2375 Em Pow Cor... Evans Wall Lead. airchild Aviatn 4 Helena Ruben: 36 Hiram Walk G & 8 2 Househld_Finance pfd 2 Huylers Strs of Del.. 2! $ Insur Co N A 231 | in hundreds. T2 Direct to The Star Office 1IN J Zine. 17N ¥ & Hol 1 Nipissing 20 Noranda 8 Ohio Cop " 2 Roan Antelo an Toy . 14 Shattuck _Denn OIS k- ighaiata saiee 12 Wenden Cop Sales INDEPENDENT OIL STOCKS. 251 odley Pet . 7 7% % STANDARD_ OIL ISSUES AND 'ORMER_SUBSIDIARIES- STOCKS. nglo Am_ Oil... 16% 1602 16% D48 46 4 110%: 14013 23" 22y 66 2 700 Vacuum Oil. Sales in BONDS. ¢ Lt 12Am Soi 625 '38 17 i Appal_El Pow 983 60As50 G & EI 4125 48 13712 135 107 Asso G & El 5%2s *77116% 1 S3A G & E 425 48 W 4 As Sim Hard 6':s "33 88 150 AT&SFe 4125 A ‘49 wi1l6% 14 4. ... 20 3 9414 125 '49 10518 4l..... 94 933 00d Rub 5'25 ‘36, . 8 Hous Gulf G 6'is ‘43 8 Hous Gulf G 65 A 'd: 8Int Sec Amer 5s 47, §Inv Corp Am ox A "47 102 026 10412 s A 1Long Isl Lt 63 '43... 105 1 Morris & Co 7's "30. 100 16 South Cal G 5 '37... 1South Dairies 6s '30. 97% Y 5 "3 990 s dadca: Sm & R 5 Vebster 28 estern Po 5725 A 2 Long Isiand Marconi Int] Mar 2 Marc Wire 4 Mavis Bott! 4 McLellan ‘cull and common, 11.00a14.65 medium to_choiee, 150 pounds ey 7.0009.60; cull and common, 3.73a8.00. “‘m? lambs, good and choice, 14.50a SILVER QUOTATIONS. NEW YORK, February s silver, 56; Mexican doflars, 420 = Ya. eisner Bros Pe- b Rate. 55sq. EaY; Hldrs. of Company. fy Mach...5i ‘G MaR®: Am Do cnv pf Bklyn c‘vzyp X i e : R R 5‘-.'?'95 A Cleveland & Pittsbu; gtd Continent Gan bt inent ‘Can pf. Durkee- Thomas A Early & Dan Eagtman "Kodak D rst Nat P 1sf ‘uller (Geo A) r Pl i par ‘pi. Gary Rys pf A Horni Signal Mfg...35¢ Ind Limestone pf.31.75 Ind Service 7% pf.51.75 o Pt Jewel Tea” Feb. 20 Mar. 13 Mar. 10 Mar. 10 Feb. 20 PPN JOHUOTORUOR B PR ToTel - T e T - Apr. Feb. 23 Feb. 28 Feb. 28 T e W Ohio G ¥% pf A.137% Weston Elec Inst A.50c Woods Mg Lid pf.51.78 o Eastman Kodak U8 Envelope..- Increased. Eerly & Daniels. . Laun. Gaind M R Feb. 15 Mar. 15 Mar. 13 June 15 Sept. 15 Dee. 15 Mar. 4 Mar. 31 at Bellas Hess..200% nited Fruit....1-20 sh Wessn Oll&Sdit..100% ° Do bt E 1935 *Payable prior to April 1. The board of governors of Washing- ton Chapter, A. I. B, met last evening and perfected plans for the annual ban- quet, A delegation of chapter members | will attend the dinner Saturday night in New York, including James A, Soper, T. Hunton Leith, I. J. Roberts, A. E. | Henze, Miss Mabel Royce and Miss Catherine Krieg, 'k e N %, Neisner Br pfd Y Inv . 4§ Nor Amer Aviat 3 North Amer Cem. 12 2 North Am Utility Sec 15% 19 North Eastern Fow... 56 10Nor Sta P A 501l Stock 1Pend D Groc B % ,C Penney & o Penn_Ohio Ed .. 8 Peo W 45 Petrol Cp 1st paid. 1% Bh Cor 29% 1184 116% 755 2% a 10134 102% 1ota 16% 59% 59% 401, 407 26% 26% 4 T4 821: 82% 26% 27% 15 15 8 ..., 2 1Southw Strs pfd A.. 3Spald AG & Bron 65 € Spanish & Gen rct 1Sparks Withing . 2 Stand Inv .. 47 3 Btewart War C'n ‘Wi 6i Strom Carls Tel k “Co 58 B8 130% 130% 25 1 m E € Transcon Alr Trsp .. 25 DLPSA 11% Glass Ltd 28; 28, % . 31% 31% 1083 2 3138 10478 514 "25) n vic ni Elec bond rts Gas .. 2 = g8 B 1 & For Sec....l: 62} or Sec 1st pid 937 reight of Del.... 106, t Foll F =z 0y | 4 ‘ggaaaaaags: n Camp Pkg an Camp Pdg pfd. Walgreen igi<< 58 Hud Bay Min 1Iron Cap Goppe: 119 Kennecott “Cop n. Kerr "Lake. 5 43% ’?:O' Cg‘I“nell | Fiti M 0 ewmont N J 2 inc. . 2 heel Stl 4125 B '53 88% 88% Bale: FOREIGN BONDS. thousands. 2 6s B '51 28 '37. 1 Swiss s " 10 38 Uni Elec Serv 7s A '36 127 29 Uni El Sr 15 A wWw '56 91 6 Uni Stl W 6las A '47 89 xd—Ex-dividend. wi—When issued. n—New. ww--With warrants. Commodity Notes Packing House Products. CHICAGO, February 14.—Exports of meat and fats from this country have been rather slow during 1929 so far, but the gain in 1928 amounted to 60,~ 000,000 pounds, so that it is scarcely to be expected they should be of a volume corresponding to that of last year. Clothing. HAZELTON, Pa.—Hazelton shirt fac- tories are working full time and more workers are being taken on to enable | grape the manufacturers to bring production within reach of consumptive demands. Vegetables. EL CENTRO, Calif.—Several car- loads of Spring peas are moving from Imperial Valley farms daily and the movement is expected to reach its peak some time this week. Acreage is 1,400 above that of 1928 and yield is reported high. Rubber. ATLANTA —The first cultivation of the new rubber plants picked out by Edison will be on Ford’s 22,000-acre plantation near Savannah, Plants from this area will be transplanted all along the Gulf Coast. The Ford flax farms, it is understood will not be dis- turbed. YOUNGSTOWN . — Operations of Youngstown Sheet & Tube Co., in the Youngstown district are at around 80 per cent of capacity. This includes the idle Zanesville plant. Operations in the Chicago district are at 85 per cent. - New Bond Issues Special Dispatch to The Star. NEW YORK, February 14—The American portioh_of $10,000,000 King- dom of Rumania Monopolies Institute 7 Fcr cent guaranteed external sinking und gold honds, guaranteed uncondi- tionally by indorsement by the King- dom of Rumania, is being offered today by a banking group made up of Blair & Co., Inc.; Chase Securities Corpora= tion, Dillon, Read & Co., and the In- ternal Acceptance Bank, Inc. The bonds mature February 1, 1959, and are priced at 88 to yield 8.07 to maturity, Guaranty Co. of New York, and Dil- lon, Read & Co., offer $7,000,000 Co- penhagen Telephone Co, 25-year sinking fund external 5 per cent February 15, 1954, at 943, to yleld over 5.38 per cent. i A new issue of $6,000,000 People's Light & Power Corporation 5 per cent convertible gold debentures maturing January 1, 1979, 1s being marketed by G. L. Ohrstrom & Co., Brown Brothers & Co, and Coffiu & Burr, * - ,,,: Trade and Comm: AIRPLANE INDUSTRY SEEKING WORKERS Skilled Help Needed by Fac- tories as Production Speeds Up. BY J. C. ROYLE. Spectal Dispatch to The Star. NEW YORK, February 14.—Aircraft raids used to get people “all steamed up” between 1914 and 1918, and they still do, although the raids are for a different purpose. Raids today are on_working forces. There are today approximately 30 corporations making airplanes in the United States. There are not enough skilled men in the industry to fill the places open for aeronautical en- gineers, test pilots, commercial pilots, instructors, expert mechanics and air crafts men. In consequence raids are being conducted on working forces of competitors by hard pressed manufac- turers. Enlisted men of the Army and Navy who have gained experi- ence at flying fields and pilots from sverywhere are being listed and card-in- dexed to show when they may be open to offers. There is nothing to wonder at in this. In 1928 4,000 planes worth $30,000,000 were pro- duced, and this was far below de- mand. There are 1,387 airports ready for use and hundreds projected. Air mail routes covered 18459 miles in 1928 and 23,175,412 airplane miles were flown. In 1929 at least 10,000 machines will be built and already mail and passenger route mileage has increased tremendously. The lack of adequate forces is in- clining financiers and executives toward proposals for consolidations and mergers, but even these are not likely to relieve the scarcity of trained men. | This scarcity exists not only in the actual airplane construction and de- signing fleld but in the accessory lines and in radio. The future development of air travel is virtually dependent on the use of radio, according to Dr. J. H. Dellinger, chief of the radio section of the Bureau of Standards. When the radio beacon system is fully established on the American airways, they say the last obstacle to safe flying will have been conquered; but in the meantime more radio engineers can find a place for their services. The show just closed has demon- strated that, despite the growth of eom- mercial and sport aviation, the Govern- ment still is the most dependable customer for airplane manufacturers. The Federal program for this fiscal year involves $62,924,212. It is in response to the indication that the Government purchases will continue heavy that the Berliner Joyce Aircraft Corporation has determined to move from Alexandria, Va., to Baltimore and enlarge its plant to enable it to accept military ex- # | perimental contracts. At the new plant, which will be occupied about April 15, experiments will be conducted on all- metal propellers for the Federal Air Services, on metal pontoons for the Navy and an all-metal, two-passenger monoplane. COTTON PRICES FIRM IN EARLY TRADING on Buying Causes Advance on First Sales. By the Assoclated Precs. NEW YORK, February 14—The cot- ton market opened steady today at an advance of 3 to 10 points. Active months sold about 8 to 17 points net higher in the early trading on covering and trade and commission house buy- ing inspired by the census report show- ing domestic consumption of 668,389 bales for January against 586,142 last year. The advance to 20.23 for May and 19.66 for the new October contract met realization by traders who had bought recently in anticipation of large con- | sumption figures. There also appeared to be some Southern selling and prices eased off after the first flurry of de- mand had been supplied. “ At the end of the first half hour the market showed reactions of 6 to 12 points from the best. The more active positions were selling within 2 or 3 points of yesterday’s closing quotations. Baltimore Markets Spectal Dispatch to The Star. BALTIMORE, Md.,, February 14— Potatoes, white, 100 pounds, 1.00a1.35; sweet, potatoes, barrel, 2.00a3.75; bushel, 75a1.85; yams, barrel, 2.00a4.00; beans, bushel, 2.00a4.50; cabbage, hamper, 758 1.35; carrots, bushel, 1.50a1.75; celery, crate, 2.00a3.00; cucumbers, bushel, 7.00 a9.00; eggplants, crate, 4.00a6.00; kale, barrel, 1.75a2.00; lettuce, hamper, 1.25 22,00, Onlons, 100 pounds, 3.50a5.50; oyster plants, 100, 6.00a10.00; peas, bushel, 2.00a2.50; squash, crate, 2.50a3.5 parsnips, basket, 75a85; spinach, bush 75a1.10; tomatoes, crate, 1.25a3.50; tur- nips, basket, 50a60; apples, bushel, 75a 1d bonds due | De el, 2.00; cranberries, half barrel, 9.00210.00; efruit, box, 2.50a3.50; oranges, box, 2.00a4.00; tangerines, strap, 1.50a 2.50; strawberries, quart, 40a45. Dairy Market. Live poultry—Turkeys, pound, 37a43; old, 30a35; young chickens, 34a3: poor and thin, 20; old hens, 20a32; capons, 32a40; ducks, 20a32; guinea Leghorns, 20a28; old roosters, 17a20; fowls, each, 40a80; pigeons, pair, 30a35. Dressed poultry—Turkeys, pound, 35a 45; old, 26a35; young chickens, 30a35; old and mixed, 25a30; old roosters, 18a 20; capons, 33a42; ducks, 25a30. Eggs—Recelpts, 204 cases; native and nearby firsts, free cases, dozen, 39%2a 40; current receipts, 34a38. Butter—Good to fancy creamery, pound, 47a52; prints, 52a54; blocks, 51g 53; store packer, 25; dairy prints, 25a 28: rolls, 25a28; processed butter, 41a42. Hay and Grain Prices. Wheat—No. 2 red Winter, garlicky, spot, 1.39% ; February delivery 1.39%. ‘Corn—No. 2 export, February delivery, 1.03; No. 2 yellow, domestic, spot, 1.11a 1.12; cob corn, 5.25a5.50. Oats—No. 2 white, domestic, spot, 62 a6212; No. 3 white, domestic, spot, 60a 60%. Rye—Nearby, 1.1021.20. H{y—vmcelpts, none. While hay is arriving here in limited quantities only, it is more than ample for the demand, which is being supplied mostly by truck from nearby points, few carloads being received. There is not enough'business passing to establish prices on the vari- ous kinds on merit at a range of 17.00a 19.00 per ton of timothy or clover hay. Straw—No. 1 wheat, 11.00a12.00 per ton; No. 1 oat, 12.00a13.00 per ton. ¢. & 0. EARNINGS. The preliminary statement of the Chesapeake & Ohio Railway for De- cember and the 12 months of 1928 com- pares as follows with 1927: i i (RO 20 O sfl?.g’g Nk ey chess RER Meoperar. i H B As previous noted, the railroad earned $24.20 per share on the common stock during 1928, against $24.08 per share in d2% ~ BY KENNETH S. VAN STRUM. NEW YORK, February 14—The re- cent rise in the price of copper to the 18-cent level was not expected nor de- sired by many within the industry. Many believed that a stabilization of | the price around 17 cents would result in more permanent benefits to the in- dustry as a whole. While producers knew that a sharp rise in price was entirely possible if the consumers sud- denly became panicky about their sup- ply sources, the producers themselves took steps to prevent a rush to buy the metal. When copper was several cents below present levels they followed the very unusual practice of issuing a warn- ing to purchasers that if their buying tactics were continued their own ac- tions would run up the price of the metal. Since copper has advanced sev- eral cents since the warning, producers are now hoping that the price is on a permanently higher level. Trade Associations. Recent improvements in this indus- try again direct attention to the success of efforts of several industries to pool their knowledge ‘for the benefit of the entire industry. The Iron and Steel Institute, the Petroleum Institute, and now the Copper Institute, by publish- ing statistics showing conditions in their industries, have done much to bring about stabilization of prices.. No longer do important. companies jealously guard figures which show buyers the exact }aosltlon of a commodity; they have earned that secrecy leads to wide price fluctuations and that while they might be temporarily benefited by higher prices, they would sooner or later have to pay for the false prosperity when the price collapsed. Besides taking steps to see that cop- per production and consumption figures are widely disseminated, the Copper Institute has increased the demand by advertising the uses and advantages of copper. This is'shown by the fact that whereas the demand from the electrical industries, which have long been considered the principal users of copper, just about held its own in 1928, the demand for copper sheets and strips increased noticeably. Copper sheets and strips represent raw ma- terial for such industries as railroads and automobiles, which absorbed 18 per cent of the total amount of copper last year. The high production of automo- biles accounted for 13 per cent of total | copper produced and was especially tm- portant in creating a heavy demand for the metal. But the advertising cam- paign of the institute also increased the demand for the metal for such uses as roofing and piping. According to many, it played an important part in absorbing the marginal supply of cop- per, which has been largely responsible for the present sharp run-up of prices. The opinion in the industry seems to be that because of the increased uses of copper the price has been permanently lifted to a higher plane. Today the industry is well fortified against over production since it takes large scale operations to make copper efficiently. It would take several years to build new plants and they would not be undertaken unless copper prices stayed at a high leved for a consider- able period of time. Copper Stocks. The immediate trend of copper prices is more closely dependent upon ‘the trend of general business conditions. The wide diffusion of the uses of the metal has made it even more dependent ;lpcn general conditions than hereto- ore. If the trend of the price of copper is compared with any statistics which show the degree of business activity, it will be seen that there is a very close reiationship between the two. Copper rises while business activity increases and falls as soon as its declines. Since the price of copper securities fluctuate very closely with the price of the metal it is necessary to judge what the price of copper will do in the near future in order to estimate the possibilities] of copper stocks. 1 ‘The advances in the metal has gone a little further than was generally antici- pated in trade circles, but even now it is difficult to estimate how far the price of copper will advance. One can only say that it will probably remain firm or advance as long as general business conditions, improve, but at the first signs of hesitation, copper prices will || probably fall to lower Jevels. Copper stocks should therefore do well as long as general business conditions improve and the price of the metal rises. But if the business recession which is rather widely anticipated de- velops sometime after the early months of the year, the price of copper would be expected to decline also. It may be possible that the general level of copper stocks has been .permanently lifted to a higher plane, but the immediate trend depends to a@ greater extent upon the trend of business activity. (Copyright, 1929.) LEAD DEMAND CONTINUES. NEW YORK, February 14 (#).—Ac- tivity in lead was the feature of the week for non.ferrous metals, says Engi- neering and Mining Journal. Consuming demand for lead continues at a high rate and, with improvement in London quo- tations, prices advanced here. Copper has been quiet since the price was in- creased to 18 cents a pound, delivered in the East. U. S. TREASURY RECEIPTS. ‘Treasury receipts for February 12 show $4,525,143.48; expenditures, $11,~ 360,719.32; Bal: Consult Us First If you need money for your Real Estate financing let us have your application today. Prompt Service { No Appraisal Fee The Commercial National Company Incorporated Pald up Cash Cavital, $900,000 Cominercial National B: 3 omiserctal, National Bank Blds We Will Lend You Money In Any Amount At 51/2% Interest For Periods of 3, 5 or 10 Years in Nearby Maryland, Virginia and the District of Columbia Apartments, Residen or Business Properties POSSZTELPS 1417 K St. . Main 9300 Loan Correspondent John Hancock Mutual Life Insurance Co. HIGHER MARGIN REQUIREMENTS ARE CHECK ON SPECULATION Special Dispatch to The Star. NEW YORK, February 14.—Senators and Representatives who have been tak- ing a slap at Wall strect and the Fed- eral Reserve system the past week should look over the collateral loans of the banks and trust companies and the margin accounts of brokers as they stand today. They would reach a dif- ferent conclusion as to the amount of actual money that is required or is be- ing employed at present to effect a transaction in stocks as well as to the legitimacy of trading being done by the public. Ever since the December break, the banks have heen marking down the value of stocks on which they loan until there is a great deal of complaint from brokers on this score. At the same time, Stock Exchange houses have been raising their margin requirements. To- day the man who goes in to buy a stock must first put up anywhere from $40 to $50 a share, or nearly half the market value of the stock with a rising rate of margins on the high-priced issues. In all other bull markets of the past & 25 or 30 per cent margin was considered ample with a great deal of business done on 10 and 15 per cent margins. This made it easy to speculate and also to “pyramid”—one of the dan- gerous features of all bull movements. Then there is another tax now being put into effect which hits hard at the small trader, or the man who is limited by his financial capacity or his nerve to dealings in 10 to 25 share lots. For years the regular commission on the small odd lots has been $2. Now it has been raised in some cases to $5. Under the new arrangement of $5 commission both ways the small trader will have to make over a point, includ- ing the transfer tax, in urder to come out even. There is a further penalty which all of them pay in the form of monthly in- terest rates which have been ranging profits at a surprisingly rapid rate. All of this reform has deveioped largely within the Stock Exchange and indirectly assists the Federal Reserve in checking speculation. WHEAT VALUES DROP ON INITIAL SALES Prospects of Warmer Weather in Europe Cause Downturn at Chicago. By the Associated Press. CHICAGO, February 14.—Prospects of warmer weather for Europe led to an early setback today in’ wheat values here. Before the market swung down- ward, however, July wheat delivery es- tablished a new high price record for the season. Opening at 3 off to J4 up, Chicago wheat later underwent a ger- eral downturn. Corn also was casiel starting at 14 to 5 decline and subsc- | quently holding near to the initial fig- ures. Oats were relatively steady. Pro- visions tended to advance. ; Downturns in Chicago wheat prices today were influenced a good deal not only by the fact that a let-up in the European cold wave was forecast, but also by unexpected setbacks in Liver- pool wheat quotations. Reports also were circulated that crops in European countries were protected by snow ex- cept in parts of France and Belgium which have suffered damage. Accord- ing to some estimates, 5 to 10 per cent of the Winter wheat acreage in France will have to be resown. with Spring ‘wheat. Good sized shipments of wheat from Argentina, 6,798,000 bushels for the week as against 5,869,000 bushels a year ago, were mentioned as partly respon- sible for lower quotations today at Liverpool. On the other hand, the lead- ing British trade authority announced that estimates on world import require- ments of wheat had been raised 40,000.- 000 bushels to 880,000,000 bushels. This amount, however, was still 40,000,000 bushels below a recent German unof- ficial estimate. CHICAGO DAIRY MARKET. CHICAGO, February 14 (#).—Butter higher; receipts, 5,035 tubs; creamery, extras, 50; standards, 49%5; extra firsts, 481,a4915; firsts, 4615a4715; seconds, 4424515, Eggs higher; receipts, 5648 cases; extra firsts, 4015a41; firsts, 39%%; ordinary firsts, 33a37. Poultry—Alive, firm; receipts, 10 trucks; fowls, 50; Springs, 33; roosters, 22; turkeys, 25; ducks, 30; geese, 23. o POTATO MARKET DULL. CHICAGO, February 14 (®) (U, S. Department of Agriculture).—Potatoes —Receipts, 93 cars; on track, 241 cars: total U. S. shipments, 877 cars; tradi slow, market dull; Wisconsin sack round whites, 75a90: Michigan bulk round whites, 75; Minnesota and North Dakota sacked Red River Ohio's, 1.00a 1.10; Idaho sacked Russets, 1.50a1.80 Money to Loan Secured by first deed of trust oa real estate. Prevailing interest and commission. Wash. 'i & Trust Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Matual Benefit Life Ins. Co. 1520 K Street Main 475 CompLETE FINANCE Ist & 2nd TRUST MONEY On homes, apartment buildings and business properties. No appraisal fee. Prompt service. Real Estate Mortgag & Guaranty Corp. 24 Jacksan Place Main 1403 NEW BALTIMORE PLANT. —The first unit of the Baltimore plant of the Western Electric Co. will be opened for the manufacture of “fireless wire” for telephones in temporary quar- ters within a few days, it has bene an- nounced by William H. Meese, vice president of the company. The product is known technically as “jumper wire” and is designed to elim- inate fire hazards in telephone ex- changes and other buildings. Buildings on the site, where the $25,- 000,000 plant will be located, have been razed and the ground has been graded. Construction of the first permanent manufacturing unit probably will start during the Summer, at a cost of about $15,000,000. When working at capacity it will em- play_approximately 15,000 persons. % LOANS ‘5% On High Class Residential Property Write for Booklet Jos. W. Brooks & Co. Insurance—Frank. 2913 212-213 Transportation Bldg. Commercial National Bank Pays interest on DAILY BAL- ANCES on Savings Accounts. Interest starts from DAY of deposit and is earned to DAY OF withdrawal. Come in and let us explain. Resources Over $18,000,000 ' 14th & G Streets R. GOLDEN DONALDSON, President | from 8 to 10 per cent and which eat up | BALTIMORE, February 14 (Special). | THE IDEAL INVESTMENT Standard Coliateral Trusteed Common Stock Shares TR Rading s Ameritan. Corpore "0%' are in_ of ying DI ire above AFE. th and PRINCIPAL have an assurance O O e Yo 1058 of Tners: corparations excecded TWO BN DOLLARS. For Particulars and Price Call Standard Collateral Shares Corporation Franklin 3183, Woodward Blds. T T TR, RiskBitste- | Financing Second Trust Notes purchased at reasonable discounts, secured on District of Columbia and nearby Maryland property. We Solicit Your Application ‘National Mortgage & Investment Corporation 1004 Vermont Ave. N.W. Main 5833 Over a Third of-a Century’s Exrperience A Bother With Harassing Details —that inevitably arise in the management of property —when you can put the full burden of responsibility on us—knowing that we know what to do—and how to do it? B. F. SAUL.CO: Main 2100 925 15th St. g Announce an Exhibit £ STEEL DESKS to of SAVING money for in fact, indispensable self-respect and in the invite your account. 509 Seventh Street N.W. i ART METAL CONSTRUCTION CO. —that will be of interest to you because it will show how conserve floor space, cut down office overhead and increase efficiency. and special purpose desks designed to meet the needs Stock banks, corporations and the individual user. 1429 H Street N.W. YOU Grow With Your Savings the sake of “having” alone is a thousand times worth while— to success. Added to the fact of solid possession is the comfortable, confident feeling with which you face the world. As you save you grow in your own respect of others. We Second National Bank “The Bank of Utmost Service” 1333 G Street N.W. “Protecting Investors from Fraudulent Promotion Plans” discussed by MR. EDWARD T. HALL, President, National Better Business Bureau, Inc. An important factor in the systematic efforts being made to purge American business of unethical practices is the National Better Business Bureau, Inc. Mr. Hall, president of this influential organization, will address the radio audience tonight on phases of the work of particular interest to investors, as guest speaker on the HALSEY, STUART & CO. =Tbhight—- WRC —10 o’clock RADIO PROGRAM & and 26 other stations associated with the National Broadcasting Co.~Music by instrumental ensemble. Acopy of Mr. Hall'saddress will be sent to any who are unable to listen to the program. Ask for Folder WR-2