Evening Star Newspaper, March 12, 1929, Page 14

14 ® 600D TRADE YEAR 1S SEEN BY FESS Ohio Senator Does Not Be- lieve Legislation Will Slow Up Business. BY EDWARD C. STONE. Senator Simeon D. Fess of Ohio, be- lieves that there will be no general slowing up of business as a re- sult of any action that Congress may take on tarifl gchedules or on farm relief at the forthcoming spe- cial session. Sug- gested tariff changes always send more or less of a shock throughout the ess world but Senator dis- counted such fears during a recent address at Atlan- tic Cit Simeon D. Fess. Scnator Fess : £aid that it happened that business often paused when tariff. problems were before Congress because revisions were general and usually downward. This fime, he continued, a comparatively changes in the tariff schedules ould be made and the general direc- tion of these changes would be up- ward. Mr. Fess called attention to the great difficulties in connection with farm re- ief and expressed the opinion that the emedy rested in improved marketing conditions. The proposal to have the! United States subsidize farm products and guarantes profits was declared by the Senator to be uneconomic. Washington Market Quiet. Trading on the Washington Stock Txchange today was draggy, the trend being toward fractionally lower levels. 7he market opened with Capital Trac- tion selling at 10313 for 10 shares. Four rhares of Federal-American National Bank stock moved at 343 and this sale was followed by two small sales in Co- Jumbia Sand & Gravel preferred at * 533, this stock closing at 937, Lanston opened at 129> and closed at 130 on a transfer of four 10-share lots. Federal-American Co. common moved at 53. Five shares of Railway & Electric preferred changed hands at | 98',. In the bond division $1,000 Wlsl}’h ington Gas Light 5s sold at 10112 Washington Gas 6s, serics B, baby bonds, sold at 103!, and the same small cenominations in the A bond came out at 10 Georgetown Gas 5s brought 101';. The bond market closed with Chestnut Farm Dairy 6'2s moving at 107, . Investment Trust Formed. ner & Beane, stock and cotton hnflg‘rs. who have an office in the Wil- Jard Hotel and 64 other branch offices, snnounce the formation under the laws of Delaware of an investment trust to bs known as the Southern National ration. Cu'{‘g: corporation will have an au- thorized _capitalization consisting of £25,000,000 of 6 per cent 15-year gold cebentures, which will carry stock pur- chase warrants, and 1,00040010 shares of eommon stock of no par value. The Fiscal Management Corporation, made up of members of the Fenner & Teane organization, has also been frrmed and will manage the portfolio of the new investment trust. This or- sanization has acquired for cash the initial issue of 100,000 shares of the common stock of Southern National. A. C. Beane states that only a portion of the authorized debentures will be sold at the outset. Fifth District Building Review. After making an excellent record dur- ing the closing months of 1928, says 112 Federal Reserve Bank of Richmond, tuilding permits issued in the leading citfes of the fifth district fell off in Jan- vary in both number and estimated val- vation. Thirty-one cities for which fig- ures for both 1929 and 1928 are avail- eole issued 1,041 permits for new con- ctruction in January this year, with es- timated valuation of $8,009,124, com- pared with 1,274 permits and estimated v2luation of $20,750,642 in January. 1723. Total valuation figures for all classes of work were $9.437,955 in Jan- nary, 1929, a decrease of $13,153472, or 3.2 per cent, under the total valuation of $22,591.427 for January, 1928. The record of January, 1929, was not as bad as the comparison indicates, however, the figures for January last year having been swelled far above 2uerage January figures by permits 1otaling nearly $5,000,000 in both Bal- timore and Washington, and a remark- thle permit for approximately $7,000,000 i=sued in Durham for construction work 7t Duke University. Among the 39 re- rarting cities, 10 reported higher figures f-r January, 1929, than for January, 1628, Greensboro with permits for new work aggregating $983.278 making the bast showing {?r the month in propor- tion to population. Bulldmgpucontracts awarded in the fifth district in January totaled $28,- 47,575, including both urban and rural construction, compared with $37.606.830 awarded in January, 1928. Of the Jan- uary, 1929, total, $9,463,265 represented contracts for residential types of con- struetion, according to statistics col- lceted by the F. W. Dodge Corporation. Riggs Bank Declares Dividend. At a meeting of the board of direc- tors of the Riges National Bank late vasterday a dividend of 5 per cent was declared, covering the period from December 15 to April 15, according to the announcement by President Robert V. Fleming. The last previous dividend was $2.50 per share, declared in con- nection with adjusting the merger ar- rangements with the Farmers & Me- chanics' National Bank of Georgetown and its Friendship branch. The dis- bursement voted yesterday keeps lhei bank on the 15 per cent annual basis, and is payable to sharcholders of rec- ord on March 30. President Fleming announced that the policy of semi-annual payments would be resumed now that all merger | adjustments have been accomplished. Insurance Commit{ces Named. The directors of the District Life Un- derwriters' Association have appointed | ¢ the following committees to assist the | Baltimore Association in planning for the sales congress to be held in that city on May 3: Associate_chairman, H. R. Bryarly; socakers, Thomas R. Crowley, Guy Viithers and Carl S. Dow; music, Free- man N. Strickland; lunch, Miss Marjorie Danells and Miss Mary Minnix; regis- tration, John L. McElresh, P. L. Rogers, Roger M. McCuliough and Kenneth H. Hunter; publicity, J. McCombs, George' W. Quick and John Lynch finance, H. Cochran Fisher, and trans- | portation, Frank Strunk and George B. Farquhar. Financial District Gleanings. F. B. Keech & Co., of which George A. Garrett is resident partner, will move from 1610 H strect at the end of the present week and open their new broker- age office in the Metropolitan Club Building at Seventeenth and H streets 5t next Monday, March 18. cretary Mellon announces that he does ot intend to interfere with any policy of the Federal Reserve Board of seeking to restrict speculative credit. Total authorized capital stock of na- tional banks March 1. was $1,670,265,- ©£48, according to the controller of the currency. This compares with $1,639,- 865,948 a month previous, and $1,542,- 207,615 a year ago. Stubseriptions to the new issue of 43 per cent Treasury certificates of indebt- edness, dated March 15, 1929, will be ciozed at the end of business today, .- " v {Am Hide & Lea. ‘'FINANCIAL.’ TON. NEW YORK STOCK EXCHANG ADbItibl Power... 44% 44% 44 44 68 12 68 T0% 70 72 69 72 Ahumada Lead.. 3% 3% 3% 3% Alr Redetn (13). 106 106 104'x 1047 Ajax Rubber. M 9% 9 9% Alaska Junea... % ™% % Albany Papr(2). 20 20 20, Alleghany Corp. 344 34% 34% Alleghany A 5% 101'% 101% 101 101} Allied Chem. ... 280'5 2861; 28015 283 Allis-Chalm(7). 175 175 84 301 6215 61'y 124 123% 124 17 Am Agri Ch pt.. Am Bank N(13). 12 Am Beet Sugar,. 17 Am Rosch...... 544 Am BrSh(h1.60). B55% Am Brown Bov. Am Brown Bo pf AmBShoe pf(7) Am Can (14). 123 123 123 123 115% 117% 115% 116% Am Can pf(7) Al 141% 141% 141% AmCar&Fdy(6). 100 102!, 100 101 Am C&F pf(7). 117% 117% 117% 117% Am Chain pf(7). 83 85 83 Am Chicle (2).., 51 514 51 Am Drug (60c). 9% 9% 9%, Am Encaus (2).. 40% 41'9 40% Am Express(6). 300 312% 300 Am & For Pow.. 108%4 111'% 1071 108 Am&ForPo(rts). 2% 3 2% Am&ForP nf(7) 107% 107% 1074 170% Amé&For Pow 9915 9915 991, 991, 8 8 S 8 T8, 7813 T8y TRl 4015 4015 4015 63 64 67 T 67 67 14 114% 66'% 664 9 4114 3124 Am Home Pr(3) Am Tce (13).. Am Internatl {2, Am LaFr&Foam Am LaFrancepf 68 68 Am Locomot(8). 114 115% 1 Am Metals(3)... 664 67 Am Metal (rts). 2 2 1% 2 Am Metals pf(6) 1193 119% 11912 119% AmNatGaspf7 8 &9 S8 88 A 13 13 13 105'% 105'% AmMP&LtA(3). 7 67 T67n AmPO&Lt pf(6) 102% 10 AmP&Lpfstas. K1% Am Radiator(5) 180 Am Rad pf(7)... 170 Am Ry Ex(6)... 163 Am Republies... 49 Am Saf Raz.1d). Am Seating(3).. Am Ship & Com. Am Sm&Ref(4). 11 Am Snuff (12).. 197 Am Stl Fdys(3). 68% Am Sugar. 01y Am Sugar pf(7). 108 Am Tel & Tel(9) 213 214'% 2124 214% Am Tobacco(8).. 171 171 170% 170% Am Tobac B(8).. 171% 171% 170% 170%: Am Tob pf(6)... 119 119 119 119 AmWW&EI(cl).. 86 87 84'% 844 Am Woolen. 221 221 20%W 21 Am Woolen of . 46'z 46% 46% 46% AmWritP pf(3). 43 43 43 Am7Zine........ 454 45% 43% Anaconda (7). 150% 155% 150' Anchor Cap 2.40. 57's 57' Anchor Cap(rts) 1 1 1 | 60% 62% 60% 61% Andes Copr (3). . Archer Danls(2). 42% 42% 42% 42%| w 114% 1123 1134 197 197 197 68% 68 68 Slta F013 80% 108 108 108 Open. High. Low. Close, Cresley Rad (1). CrownWP1stpf7 Crown Zelrbek 1 Cructble Sti(5). Crucible pf(7).. CubaCaneSugar. Cuba Company. . Cuban-Am Sug. 101 22% 88% 116% 4 19'% 4 | Cuban-A Sug pf. Cudany Pkg(4). Curtiss Aero(1). Cushmann pf(7) Cuyamel Fruit., Davison Chem. . Debenhms(2.91) Del & Hud(y). Del L & W (17) Den RG Wn pf.. Detroit Ed(8)... Devoe&R 1st(7), Diamond M (8). Dome Mines(1). Drug Incc4).. Dunhill Int (34). Duplan Silk (1). DuplanSilk pf 8. Dupont de N(4). Du Pont deb(6). Duq Lt 15t(5)... Durham Ho stman(18). astman p( Eaton Axle (3).. 13itingn pri6le ). cc Autol, 143 ectric Boat. iSlecPow& Lt (1), Elec Stor B (5).. Ik Horn. . Bmp Capwell(2) g PubSer(11). Eng Pub Ser rts. Eng PuSpf5l. Equit Bldg(2). Erie R R. Erie 1st p Erie 2d pt. Eureka Vae (4). EvansAuL 121, FedLt&Tra {11 Fed Mot T(80¢). 1814 Filene's pf(6%). 105 First NaiSciig). 63 Fisk Rubber. 16% Fisk R 1st pfev. 6 Fleischman 3% Follanshee 2% . Foundation Ce Fox Film A(4) Freeport T (4).4 Gabriel Snub A.. Gardner Motor. . Gen Am TC(34). Gen Asphalt. Gen Cable Gen Cable Gen Cable pf(7). Gen Cigars(4).. Gen Electric 16 GenElec sp(60c) Gen GREIA 1%. Gen Gas pf A(7) Gen G & El A(8) Gen Mills (3). Gen Mills (rts) 150% 120% 6l 24 115! 154 10 1165 681y « Arch-Dan pf(7). 114 114 114 114 Armour Del pf7. 190 90 90 90 Armour IIl(A) 14% 14% 14'5 14% Armour I11(B) THh T T4 Y% Armour 111 pf(7) 80 £0% 80 80% Arnold Con&Co 29% 29% 29% 29% AssoDryG(2%). 61% 61% 61 61 Asso D G 2d(7).. 106% 106's 106% 106% 434 43,43 43 199% 199% 199'% 199% 103% 103% 103% 10314 Atl Coast L(110) 180% 181 180 181 At Gulf& WI.. 39% 39% 39 39 At Gulf pf (4).. 52 52 51 51 Atlan Ref(11%) 584% 59% 57% 59% Atlan Ref pf(7). 115% 115% 115% 115% AtlasPowder(4). 100 100 100 100 Atlas Pow pf(6). 101 101 101 101 Austin-Nichols 6% 6% 6% 6% Auto Sale: 24% 24% 24 24 Auto Sales (rts) . % % W % AutoSalespf(3) 37 37 87 37 27% 1. kil Balto & O(6).... 125% 1. 25% 125% Balto & O pf(4). 9 79 Bambgr pf(63%). 109 Bang& Ar(3%). 681 68% Bang & Ar pf(7) 108! 1085 108'a 108! Barnet Leather.. 19 19 19 19 Barker Bros(2). 32 52 32 32 Barnsdall A (2). 40% 41% 40% 407 Bayuk Cgrs (2 98 98 97 97 Bayuk 1st pf(7). 106 106 106 106 Beacon Oil, 221 22% 224 224 90 20 89 89 12% 13 12% 13 Belg N R pf(t6). 82ix 821, 821, 82t Bethlehm Stl(4) 98% 101% 98 994 Beth Steel pf(7) -119% 119% 119% 119% Bloomingdale... 4 49 48% 48% Bon Ami A(4). 814 81 Booth Fisherie: % T Borden Milk(6). 180! 182 Briggs MfgFCo. 46% 47 British Empire.. 4% 4% 4% 4% Brockwy Mot(4) 62% 62% 62% 62% | Bklyn-Man(4).. 73 74% 724 T4 BrownShoe(2%;) '40'% 40% 40% 40% Brunswick B(3) 50% 51 50%s 50% Brunswick Ter. 834 33% 33 33 Bucyrus(1) 37 3™ 27 3% Bueyr v 45% 45% 45% 45% Buff & Susq..... 75 5 it 5 Burns BrosA(8) 116% 116% 116% 116'% Burns Bros(B).. 34 34 34 34 Burroughs (15). 291 291% 286 286'% Bush Term(g2). 173 2 2 Bush Ter de(7).. 109 109 Butte Cop & Zino 8% 9 Butte & Sup(2). 10% 10% | Butterick Co. 3% 30% Byer & Co...... 153 By-Prodets t2%. 115 115 112 Callahan Zine... 3% 3% Calu & Ariz (6). 130% 135 Cal& Hecla(4).. 56% 56l Can Dry (14%). 831 8413 Can Pacific(10). 243t 245 Canon Mills 2.80. Cavanah Dobbs.. Celotex Co (3). . Celotex (rights). Celotex pf (7)... Cen Aguirre(2). 41 Cent Alloy(2)... 47% 48% Cent Alloy pf(7) 111'z 111% Cerro de Pas(6). 109 112 Certain-teed Pro 213 21% rtain-teed pf.. 59 59 rto (14).eeaee 62 Ches & Ohlo(10) 21¥% 2184 C& O Corpn(3).. 843 16% Chi & Alton pf. 223 Belding-Hemwy. 45% 464 Bl 10% 9% 3% 30% 154 150 154 112 BBl B5% 821 82% 242% 2434 431 435 450 37% 68 K 113 111% 109 110 2l 21% 59 59 62 62 218% 218% o B4 16% i 21% 19% 57 5% 573 8Th 3 33le 129% 128% 128 105% 1054 105% 105% Chi& Nwn (4).. Chicago Pn Tool. ChiRI&P (7)., CRI&P pL(7), Chi Yel Cab(3) Chickasha(3). Childs(2.40). 5 B4 Chile Cop (3%). 109% 112! 1091 11214 | Chrysler Mot(3) 107'a 108% 106} 106% City Ice (3.60) T 5Tl 5Tl 5T City StoA (313 50 50 City Stores new., 2 24~ 24 ab(b). 65% 65l 65 65 Cluett-Pea pf(7) 115 115 115 115 Coca-Cula(6) 130 130 130 130 Coca-cola (4) ho49% 49% 49y Colas & Alkmn 641 64% 64w 6115 Col & Alk pf(7). 95% 95% 952 951, Col Fuel & Iron. 3% T4 T20a T2 Col Gas& EI(5). 144 141 14315 1431y Col Gas&El new. 584 588 o BBy Col G&E pfA(6) 105's 106 105 106 Columbla Graph 71'a 724 171 T1% Col Carbon t414. 137% 138 137 138 Com Credit (2).. 497 51 4915 50 Com Cilstpf 6% 99% 99% 994 993, | Com Crpf(1%). 2b% 25t 251 Com Inv Tr(t4). 177 177 174 CominTrpt 6k 97% 97% Com Solv (h8).. 257 2 Com Power(13)., Conde Nast(Z) Congoleum-Na Cong Cgrs (5).. Conley Tinfoll., Consol Cgrs (7). ConCigprpf(6%) 9 Con Kilm pfe2).. 27% 27% 261 264 801 Gas (3).. 104'x 106 1044 105% ConsolGaspf(5). 99% 99% 991, 991, ConRRCuba pt 6 66 66 Consol Textile. . 3ia Container A 1.20 184 Container B 6Uc. 9 Cont Baking A.. 59 Cont Baking B 10% Cont) Can (2% 68% 24 4 174% 97% 9 79 26% 821 89 ) | Int Pa&PoA2.4 Gen Mills pf (6 Gen Motors (3) Gen Mot pf(7). GenOutdrAd(2). Gen Outdr Ad(4) Gen Ry Sig(5).. Gen Refrac(3).. Gen Refrac(rts) Glllette SR (5). Gimbel Bros. Gimb) Br pf(17) Glidden (t1%) Gobel (Adolph). Gold Dust (new) Goodrich(4) . Goodyear Tire.. Goodyear (rts). . Gotham H (2%). Gothm nv(2%).. Gothm pf exwar. Graham-Paige. . Grand F&W (1). Grand Unon.... Grand Un pf(3). « | Grt North pf(5). Gt Nor pf cfs(6) GrNorOr efs 314 . Grt Wn Sug 2.80. Grt Wn Su pf(7) Greene Cana(8). Guantanamo Su. Gulf Stat St1(4), Gulf States(rts). Hahn Dept Stor., Hahn DSpf6l%. Hanna M A (7).. Hartmn B(1.20). Hershey Corp Hershey pf(4).. Hershey pr pf(6) Hoe& Co A..... Hollnd Fu(e2%) Hollander & Son Homestake(17).. 106% 32 Hud Man pf(5).. Hudson Mot(5). Hupp Mot(£2).. Ilinols Cen(7). Ind O & Gas (2). Indian Mot (1).. Indian Refining. Indian Refx cifs Ingersoll-R(16) Inland Stl (3%). Inspiration C(4) InterboroRapTr. InterconRubber, Intl Bus Ma (5). Int Cement4).. Int Com Eng2), Int Harv (24).. Int Mtch pf 3.20. Int Mer Marine. . int Mer Mar pf. 140% 31% 24% Pyt 124% 9115 59% ). 0. Int Fapr & Po B. Int Papr & Po C. Int Prig Ink p( 6 Int Rys Cen Am. Int Ry CA pf(5), Int Tel & Tel(6). Inter Dept S( lowa Central Island Creek(4). Jewel Tea (15).. Johns-Manv(3). Johns-Man pf(7) Jones & Lau(7). Jordan Motor, .. Kan City Sou(5) Kan CSo pf(1).. kuufmn DS 1%, Kayser J(5). Kelly-Spring Keis Hayes(2). Kelvinator Corp. Kennecott (4)., Kinney pf(8) Kolster Radio. Kraft-Pho(1% Kresge (1.60) Kresge SS pf(8) Kresge Dept S.. Kreuger & Toll.. Kroger Gro(cl). Lambert Co (8). Leb Por Crit 2% Lehigh Val Coal LehighValC pf 6 Lehn & Fink(3). Lig Myers(15).. LIg & Myrs B 15 Lima Locomtve, Link Belt Co. Liquid Car t4% . Loew’s (13) Loft..... a1 1021 142% Lortilara Co Loulstana Of 1.75. Louls & Nuxh(7) Ludium 8 pf 6%. Mae And(12.85). Me Cail Corp( McCrory At2).. MeCrory Bi2).. McGraw Hil1(2) McKeenpt “f'in PL McKes&Ito 1.60. McKsn pf A 3% Mack Truck(8). Mad Sq Gar 1%, Magma Cop (4). Mallison & Co Mallison pf (7 Manat! Sugar p! 100% 108 1R 430 Contl Insur (2). 85 Contl Mot(80¢). Corn Prod t3%.. 3% 4! )Corn Prod pfe7). 141% 1413 Coty, Ing (§2)..( 624 63 - 62 B3% 141% 141% 62 « N Man Elec Suply. Man I mzg(db) Man Shirt(2), ... Marland Oil...., Maruon Mot(4d, 4 18702 Open, High. Low. 06 107 101 225% 88% 116% 4 19% 11% 64% 53 151 120% 6% 631y 40% 10415 101 22% 87'% 116% 1 19% 1% 4% 57% 150t 120% ol 6215 40% 2404 115 2401 1154 151 9% 11614 68 221 981y 178% 118 100 151 66 'y 893 45% ] 115% 40% 82 41% 54% 68 ket 3o 66 66 98 46% 4415 89ty 86 25% 1 108 108 31% 37 117%. 172% 4 0% 4 465 0% 140 31 24Y% 31 32% 124% 9% 59% 156 92% 824 105% 104% 50 7313 2054 79 4 62 1414% 182 12014 146'3 120' 122% 12% 88 67% 30 79% 19% Bok 5% 15% 954 107 59 8414 514 112% 1087 144% 51y 22Y% 39 58% 90 1410 100% 423 T2% 107 108 100% 42% 73 10815 Close. 105 101 872 116% 4 19% 11% 64% 5T 151 1204 75! 63 2401 115% 154 1 11 61 224 981, 1781 118 67 60% 90 45% 115% 40%, 82 41Y% 5a% 68 N% 127% 14 66 66 98 464 44ty 90 /7% 26 49 10814 106 314 3% 117% 1721 4 T0% 4y 47 T0% 140 3% 26% 35 a3 1241 9k 61% 83 105% 881y 5] i 104': 50 74 207 79 4 62 141 183 120% 965 107 60% Ba% 51% 112% o 1% 100% 42% 73 107 109 441, | ! Martin-Parry’ Mathieson(6). May Dept S(4) Maytag (12) Maytag pf(3). Mengel Co... Mexican Sea Miami Cop (2) Mid-Cont P(2) Middle State Mid States ctrs.. Midland pf(t12) Miller Rubber-. .. Minn & St Louis. Minn SIP&SSM.. M St P&SSM pf.. Mo Kan & Tex. . Mo K&Tex pf(7) Missour) Pacific. MoPacific pf(5). Mohwk Cur 215, Mont Ward 23%.. Moon Motor-..... Mother L (40c).. Motion Pic Corp. Motor Meter A.. Motor Prod(2).. Motor Whi (2).. Mullins pf (7).. Munsingwi (3)., Murray Corp.... Nash Motors(6). Nat Acme (1)... Nat Be H NatRHess pf(7) Natl Biscuit(17) Nat Cash Reg t4 Nat Dairy (33). Nat Dept Stores, Nat D St 1st(7) Nat Distillers Nat Distillers p Nat Enamig (1). Nat Lead(5).... Nat Pow&Lt(1). Nat Radiator.., Nat Ry Mex 2d.. Nat Supply (18). Nat Supply pf 7. Nat Suretv (5). Nat Tea (113) Nevada Cop (3). N O Tex&M (7). N Y Afr Brd).. N Y Central(8).. N Y C&StLe6). N Y CStL pt(6). N Y Dock. . N Y Dock pf(5). N Y & Harlm(5) NYNH&Hart(4) NY NH&H pf(7) N Y Ont&Westn. NY Stm 1stpt 7. Norf & Wn(t10) Norf & W pf(4). NorAm bl0%stk North Am pf(3). No Germn Lloyd North Pac(5) Nor Pac efs(5).. Northwn Tel(3). Norwalk Tire. Oil Well S pf. Omnibus....... OppenhmCol(4). Otis Klev pf(6). Otis Elev (6) Otis Steel...... Outlet Co pf(7). Owens Bot (c4). Pacific Gas(2). Pacific Gas(rts). Pac Lightg (3) Pacific Mills. Pac Oil Stubs. Packard (13%).. Pan-Am Petroim Pan-Amer Pet B Panhandle. Paramount-F-L Park & Til(13).. 2 Penick & Ford. . Penick&F pf(7). Penn C&Coke. ... Penn Dixie Cmt. Penn RR(3%).. People’s Gas(8). Pere M prior(5). Pet Milk (1%). Phila Co nf(3). . PhilaRaT pf 3%. Phila & RC& 1. Phil Morris(1)., Phillips P (1%). Pierce- Arrow Plerce Oil. . Plerce Oil pf. Plerce Petrolm Pilsbury (1.60) Pivelli, Italy (A) . Pitts Coal...... Pitts Term Coal. Por RicoToA(7). PortoRIcoTobB. Postum(3)... Prairie Oil&Gas. Prairie P L 131 Pressed Stl Car. Produ & Refinr: Public Serv'2.60. Pub Serv NJ rts. Pub Serv pf(6).. Pub SE&G pf(6) Pullman Co(4).. Punta Aleg Sug. Pure U1l (1).... Pure Oil pf(8).. Purity Baking. . Radlo Corp. . Radio (new).... RadioCo pf(3%) Radio-Keith(A). ReadingRy (4).. Real Silk Hos Rets 1st pf(7) Remingtn-Ral Reo Mot (11) Rep 1 &S(4). Reynolds Spng Reynlds (B)2.40. Richtield O1l(2). Rio Grande Oil. . Rossia Ins 6% . Royal Bak P(1). Royal D(a1.336) Safeway (3).... Safeway pf (6).. Safeway bf (7).. St Jos Leaa 18). StL & San Fr(8) StL&Southwest. Savage Arms(2) Schulte (h33). Schulte pf(8) Seagrave(el.20). Sears-Roe(32%) Seneca Copper. . Shattuck FG(2). Shell Un(1.40). Shubert The(5). Simmons Co(3). SimmsPet(1.60) Sinclair (12%4) Sinclair pf$) Skelly O11(2) Snider Packg Co Snider PKg pt. .. Soutia Por pf(8). S0 I'o R Su 121 . outh Cal d (2 South Pact6) South Ry(8). SouRyM&O cfs 4 Spang Chalfnr. . Spear&Co pf(7). Spen Kellog 1.60 Spicer MEg..... SpicerMfg p ) Spiegel Co (3). . Stand Com T(1). SUG&E (3%). Std G & B pf(4). Std Milling (6). Std O of Cal(13) StdOIINJI (11%). StdO:INY (1.60). Std Plate Gla Std San M(1.68). Stewart-War(6) Stromberg (3).. Studebaker(35). Submiarine Boat. Superior Ol ymington. Symington Cl A. Tenn Copper(1). Texas Corpn(3). Tex Cor part pd. TexasGuifSul(4) T&P C&O(b2%) Tex Ld Tranew) Thatcher Mfg... The Fair(2.40).. Thomp J R(3.60) Tidewater AsOil TidWASOiIpf (6} Tidewatr0(80c) Tide W O1l pf(5) Timken R B (3). - robac Prod (8).. Tob Prod (new). Tobac Frod A7) 48 1891 13414 1063 18814 134% 106% 470y 2 10815 s 106% 4815 5% 100 9 105% 1061 8% 16% 24% 113% 124% 1 . 458 4 163% 961 1041y s 114% 106 45'9 N B3 106% 19% 155 967 193 110 103 110 . shortly after April 15, _ Low. 1147 105 106 81 16% 24 113% Close. 5 ) D. C. TUESDAY, '\ Received by Private Wire Direct to The Star Office Open. High. Low. Close. 217 21W 21% 9% 9% 9% 9 49 49 39% 25 Tob Prod A (n).. Transcont Oil.., Transue & W (1) Trico Prod(2%) TruaxTraer C... Truscon S $1.20._ 53 Undwd-El F (4). 10215 Union Carb(6). Un 01l Cal2) Union Pac(10 Utd Blscuit 1.60, Utd Cigar St(1). Utd Cgr St pf(6) 1 Utd Dyew pf(7). Utd Elec Coal... Utd Fruit (c4). Utd Paperboard. US Cast Ir P(2). U S Distributing US Dt Xpress. ... Alcohol () 2. 1001 55 50 U S Steel (7) U S Steel pf(7 U S Tobacco(3) . Uni Pic 1st pf(8) Umyv Pipe & Rad Ut P&L Ae2). Vadasco Sales. Vanadium (14). Vvan Raalte.. Vick Chem(4). Victor Talkg(4). Vict Talk M cfs. Victor pr pfid).. Va-Caro Chem. . Va-CarCh 6%pt. Vulcan Detin(A) Wabash... Waldorf(13%4) Walworth(1.20). Ward Baking (A’ Ward Baking B. Ward Bak pf(7). Warnel Warn Br rts Warner pf(2.20) Warner-Quiz).. Warrn Bros (t5) Warren 1st pf(3) Warren F&Pire. Weber & H (j4). nopfn) 4 W Fenn EI pf(7) West P Po(6)... West P Po pf(7) West DalryA (4) West Dairy B... West Maryland. West Pacifie. West Pacific pf. | WU Teleg (8).. | Westhse A B(2). Westinghse(4).. Westhse 15t(4). Weston Electric. White Eagle(2). White Mot(1)... White Sew Mach White SM pf(4). Wilcox Oil & G.., Wilcoy (A) 215 W:lcox Rich B.. Willys Ov e1.20. Wilson Co pf A.. Wilson & Co pf. Woolworth (§).. Worthn Pump. . Worth Pump(B) 4 | Wright Aero(2). Wrigey ((13%). Yale&Towne(4). Yellow Truck... Young Spring.. 58 & 57U 57l Youngstn Sh(6). 110 110 110 110 Hourly Sales on N. ¥. Market. . 465500 12m... 1,45 0-p.m. 2,159,100 2:15 p.m 2,50 Diidend rates as given in the above tatle are the annual cash payments b Iatest quarterly or half-yearly declarations. Plus 4% in stock. § Plus 394 auarterly’ in stock: 1/10 share auarterly in United Cigar Stores common stock. © Plus 1%% in stock. Wall Street Briefs Peoples Drug Stores, Inc., reports net profits, after all charges, including Fed- eral income taxes for 1928, amounting to $744,529, equivalent, after preferred dividends, to $4.75 a share on the 122,- 625 shares of no par value common stock outstanding. This compares with | $465,694 for 1927, an increase of 39.5 per cent; while net earnings increased 59.8 per cent, reflecting an improve- ment in the ratio of net to sales from 5% per cent to 612 per cent. The com- pany showe at the end of the year net working capital of $2,425,499 and a ratio 3.72 to 1. $1,140,109. _The “Palm Beach crowd” of operators in the stock market is drifting back to the Street, for the number of tanned faces to be observed in board rooms and occasionally on the streets is in- 2 |creasing. This homeward trek may have some significance marketwise. While in Florida resorts these vac: tioners were hardly out of touch with the market, although it was widely heralded that their viewpoint was for the most part bearish. If the vacation- ers still hold their earlier bearish outlook, much Wwhat hn{rpened dur- ing the last 30 minutes of yesterday's session might be explained. Others suggested, however, that traders may have quit Florida to try to find out here, at the fountainhead of informa- tion, what is supporting prices in spite of intermittent bearish attacks, a meas- ure of liquidation nad Federal Reserve frowns. The New York Cotton Exchange membership of John W. Geary, jr., of Boston. was sold yesterday to John H. McFadden, jr.,, vice president of the exchange, for $45,000, equaling the rec- ord price and an advance of $4.000 over the previous sale. This is the third sale at advancing. prices since the exchange announced last Friday it would grant corporation membership privileges. The Elk Horn Coal Corporation, Inc., as of December 31, 1928, shows total assets of $26,167,876, compared with $26,248,142 at the end of 1927, and Cash alone amounted to | 1l 2 g 46 and current labilities $437,002, as against $1.337,531 and $449,792 at the end of 1927. An increase of approximately $3,000,- 1000 in the aggregate value of stock of | the Petroleum Corporation of America 17 | since its organization early this year y 641 113 68 49 20 90 80 19 ‘4 | Is reported by John H. Markham, jr., » | president of the company. The appre- ciation is based on the current market | '2 | quotations of the corporation's nold- ' | ings and includes income received and accrued to date. General Motors tion, the credit-merchandising sidiary of General Motors, in its annual | statement, reported total volume of busi- i ness for 1928 of $967,675,575, an in- crease of $124,855,698 over 1927. Net profit for the year was $10,370,453.01, which does not include gccrued profits 5| ftom revaluation of investments. The corporation paid dividends of $6,650,000 | during the year. Total assets of $390,- 557.995.33 were listed, an increase cf $59,000,000 over 1927. The Acceptance Corporation finarices the installment | plan buying of General Motors products. New Factory Planned. NEW YORK, March 12 (P.—A £500,000 plant of the Lycoming Manu- facturing Co., subsidiary of the Auburn Automobile Co., at Williamsport, Pa.. 3 . | imports. of current assets to current liabilities of | 1 STOGKS SHOW GAN N SWALL TRADING Copper Issues Lead in Re- covery After Metal Prices Advance. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, March 12—With trad-| ing again in small volume, today's Stock Market made a moderate recov-| ery. Call money dropped to 6 per cent | after having renewed at 7 per cent, and this may have had some effect, but‘ operations “were purely professional. Net, changes revealed no real trend. Copper stocks, some of the inde- pendent steels, a few oils and one or two specialties ranged higher. In the| last hour Rossia Insurance ran up| sharply to a new 1929 high and Miami | Copper came to the front in that part | of the list. On the other hand, Steel was heavy, the rails were dull and! whenever demand from the shorts fell | off, prices sagged. The opening was moderately higher | and in the first hour the copper stocks | rallied briskly. Not only was the sta- tistical position improved by a decline in the visible supply, but the price of the metal was marked up to 20 cents| a pound, the high of the movement. Anaconda opened on a block of 10.000 | Shares at 1501, down over a point, but | recovered quickly and before midday was selling substantially above the pre- | ceding close. Kennecott followed the example of Anaconda and other mem- bers of the group were carried along. ‘The strength in the coppers, however, was not communicated to other indu trials. Steel showed a gain on the in- itial sale and held above yesterday close for a time and then reacted. Gen- | eral Electric did the same, making no real progress one way or the other. and | that was the rule throughout the list. | Here and there a stock stood out for some special reason. One of these was Foundation Co., which ran up nearly 5 points to a new high for the year. United States Rubber was under pre: sure in the first hour ard International Nickel sold off, but bear traders who attempted to profit by the weakness, did not have much success. In the railroad list Baltimore & Ohio came back a point or so after the de- cline of Monday. The dividend meeting of the directors is scheduled for March 27, but it is not now believed that the | rate will be increased at this time. It is expected, however, that the stock- holders will be rewarded later in the year. New York Central was heavy, but most of the rails were neglected. BRITAIN'S FOREIGN TRADE SHOWS GAIN By the Associated Press. LONDON, March 12—British over- seas trade has made a big spurt during the opening month of 1929, Statistics for January just published | by the Board of Trade show that a gen- eral rise has been noted in exports and Imports for January are valued at $580,320,725, indicating an increase of | $73.061,275, compared with December, | and of $78,362,860, compared with the previous January. Exports showed a | total value of $334,398,035, a, rise of $32,426,390 over December returns and sgg 84,370 over the figures of January, ‘The grand total has been exceeded only once during the past two years, in November, 1927, Raw cotton and waste cotton are prominent items in the list of increased imports, showing an advance of $35.- 061,000 over the previous January. This suggests a possible pick-up in the Lan- cashire cotton spinning industry. other‘ marked increases over last January are: Non-dutiable food and drink, $18,183,- | 825 meat, $5,971,245; grain and flour, | $5.882.465. Whereas food and raw materials | make the greatest showing on the im- | ports list, British articles wholly or | partly manufactured in Great Britain | account for $27.771,790 on the increased | exports list. The outstanding increases | are in vehicles (including locomotives, | ships and aircraft), $8:115995: iron and steel and manufactures thereof, | $5,518,470; cotton yarns and manufac- | tures, $3,064,500. ‘The forward and upward trend of’ trade is general, however. only 2 of 20 classifications showing decreases over January of last year. Coal shows an | advance of $2,007.900, the increase in | tonnage being 567,931. el S SR TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co) Rate—Maturity Bid. Offer. June 15, 1920 99 28-32 100 4305 Bept. 15, 1929 4145 Sept. 15, 1920 4145 Dee.’ 15, 1929 s Mar 32 3ias Sept. 1932 3125 Dee. 193 15, 1 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 Compan Incorporats Pald up Cash Commercial N 14t y d £900,000 Bank Blds. G ~?llurtgage MoneyV Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission. Joseph I. Weller 54 V50 % LT THE IDEAL INVESTMENT Standard Collateral Trusteed Common Stock Shares A TRUSTEED OWNER- SHIP in 100 leading American Corporations. t will be to your interest to investigate. dard Collateral Shares Corp. Stan Franklin 3783, Woodward Blds. More Days to Prepare Your INCOME TAX REPORT Phone Now for Appointment and Avold Tiresome Waiting — AMERICAN TAX SERVICE 643 Munsey Bldg. for manufacture of aircraft engines. is % expected to be ready for operation ) Phone Main 1192 States Department of 'Agriculture).— Potatoes—Receipts, 93 cars; on track, 256; total United States shipments, 673 cars; russets; other stock trading slow, mar- ket dull; Wisconsin sacked round whites, sacked Red River Ohios’ Idaho sacked Russets, 1.50a1.75. -’ FINANCIAL™ HAWKIN NASI% | “Conveniently Loeated on_Fourteenth Street’ 1529 14th St. N.W. Dec. 3320 POTATO MARKET DULL. CHICAGD, March 12 (#).—(United trading fair, market steady on 80a95: Minnesota and North Dakota 1.00a1.10; STATEMENT OF THE CONDITION of the Great American Indemnity Company of New York, N.Y. On the 3ist day of December, 1928, as required ‘under the District of Columbia Code, amended June 30, 1903, and August Capital stock Capital stock, pail STATEMENT OF THE CONDITION Of the Great American Insurance Company of No. 1 Liberty St., New York, N. Y. On the ‘31st day of December, - amended June 30, 1902, and ..$1.500.000.00 | 18, 1911, BT i, i cash 130000000 | ¢ Capital stock .. - $15.000,000.00 Ry 51.000.00 | CAPtAL Stock, Baid ib. i Cash 13,000,000.00 251,547.60 market - T.615,156.00 in - 1,084.633.76 50.674.44 216.58 Cash in office Cash in e Stocks hands of agents 53 Interest due and accriued All other assets..... bank and bonds Total assets 8.38 LIA Net unpaid _claim Reserve as required b: Snl{aril‘s. rents, expen: BILITIES. LT X ] Total assets LIABILITIES, Net unpaid claims. ..... Reserve as required by law Reinsurance premiums . . Salaries, r t expenses, Commissions. Capital stock . Al other tary conl Surpius Total liabilities . Character of business transacted during the year 1928: Accident. health, auto_ lia- bility. other liability. compensation. fidel- ity. “surety, plate giass. burglary. automo- oile property damage. auto collision, prop- erty damage and collision other than auto. 8........95,637.081.18 Amount “of premiums_ written sustained during 495,861.40 tinge: Total liabilities Character of business transact the vear 1928: Fire and n’lrlnce.e‘ G- Amount of risk assumed Lotses ™ enetained® diri Tstaine o the year 1928.. o % . during_the year $5,202,001,262.00 9.325.161.07 25,501,288.49 21,565,033.23 G. E. KRECH, Vice President. Bibscrbeq Snd swort b belory’ enm ubscribed and sworn to befor 180 day of February. 1939 1 e ¥ (Seal.) J HQMER REED. otary Public. Notary Public Bronx County, No. 20. Certificate filed, in New York County, o. the’) received ‘duling " 'tne YORE 00 oo iy i s 5. Expended durine_the vear 1923 3 SE 8. PHILLIPS. Presid G. P. MICHELBACHER. Secretary. Subscribed and sworn to before me this 28th day of February. 1929. (Seal.) E. P ar 1928 ... Expended during the ‘year 1928 .... R Notary Publie. Notary Public, Queens County” No." 2650, el %. No. 4851. Cert. fled New York Cointy, No. 815, eg. No. 3 Commission_expires March_30._1929. Real Estate SANDOZ, IN 2 Dupont Circle Insurance Decatur 4010 We wish to announce the removal of our office from 1510 H Street Northwest to the Southwest Corner of H & 17th Streets on Monday, March 18th, 1929 F. B. KEECH & COMPANY Members New York Stock Exchange New York Curb Market Washington X Stock Exchange Chicago Board of Trade New York Coffee & Susar Exchange. Inc. Rubber Exchange of New York, Ine. Associate Members Liverpool Cotton Exchanse, Ltd. Bremen Cotton Exchange Telephone Number, MAIN 245, Will Be Unchanged Quarter Century NEARLY a Quarter Century has passed since we sold the First Mortgage Note. Through two financial panics and a world war, Shannon & Luchs First Mortgage Notes have always qualified 100% in Value and 100% in Safety. Where else is there another form of security with such A Record? EW ISSUES AVAILABLE TODAY PAYING SIX PER CENT Now is the time to determine where you are going to reinvest your Funds. Several new icsues of Shannon & Luchs First Mortgage Notes are Available today—in denominations of $100 up. CALL MAIN 2345 olving The Problem Ot Finding Time ITH business matters always pressing, how can the busy man find time to collect tax refunds, keep track of coupon and maturity dates, watch for re- demption notices, and be ever alert for developments that might affect the securities he owns or guide his choice of new ones. 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