Evening Star Newspaper, March 17, 1929, Page 32

32 STOCKS IRREGULAR IN PROFIT-TAKING Radio Shares at New High. Turnover Heavy for Short Session. Br the Associated Press NEW YORK, March 16—Although heavy week end profit-taking truned price trends irregular in today's stock market, a handful of issues was bid up sharply just before the close, with the radio shares rgain establishihg new highs. The old Radlo stock, after slip- ping 8 points to 530, rebounded to 549 and the new stock mounted to 109%. Rossia Insurance and Otis Elevator mounted 15 to 18 points and Goodyear Rubbar_jumped 10 to a new top. There was a heavy turnover for a Saturday session. The market was lrregular at the close. Belief is widely entertained in Wall Street that next week will witness an- other stringency in call money, some observers forcasting rates as high as 12 to 15 per cent. Call money held steady vesterday at 7 per cent. but the time money rate was stepped up to 8 per cent, even for the 90-day maturities Now that the midmonth tax payments and Government financing are out of the war, many bankers would not be surprised to see an increase in redis- count rates, particularly if stock specu tion continued at a 6,000,000-share daily rate. With copper now selling at 21 cents | & pound, assuring immense profits for most of the leading producers, there was a revival of activity and_ strength in eopper shares. Anaconga, Chile and ¢ Kennecott all moving into new high ground on gains ranging from 2 to 3¢ points. Greene Cananea jumped 8 and Calumet and Arizona 6. Attention ‘was called by several commission houses to the fact that the period of peak de- mand for copper is near and that new commitments in that group should bel made with extreme caution. Otis Elevator soared 18 points. Good- year Rubber, which is expected to earn 320 or $25 a share this year, advanced | 41; points to a new high at 145. Canada Drr Ginger Ale moved into new high ground. Radio (old stock) dropped 8 points on a few sales, but the new stock held within a point or two of yesterday's closing price. Mathieson Alkali broke 813 points and Allied Chemical, Packard Motors, Yellow Truck, Hudson Motors, Bethlehem Steel and United States Steel common sold down 2 points or more. |BANK PRESIDENT TAKES STAND IN FRAUD TRIAL ‘Soufll Carolinian Completes Testi- | mony and Cross-Examination , at Columbia. | By the Associaied Press. | COLUMBIA, 8. C., March 16.—Testi- | mony and cross-examination of F. H. | Daniel, president of the Federal Inter- | mediate Bank of Columbia, was com- | pleted yesterday in the trial of W. E. | Richardson, R. C. Horne, jr.. and Miss | Beulah B. Harvey, in Federai Court, on | charges of obtaining money from the | Intermediate Bank through alleged false | Anancial statements, the case growing |out of the faliure in July, 1926, of the Beaufort Bank and the South Carolina Agricultural Credit Co. The sensation in the trial was a charge made by Horne in argument, during which the jury was dismissed, that the Intermediate Bank has sold debentures at 4 per cent, based on al- | 1eged loans, the proceeds of which never ireached the alleged borrowers. but | which were used to pay the past due obligations of borrowers located, in some instances, hundreds of miles from those | whose money was being used to pay { them. | _ Daniel testified that the Intermediate | Bank did not realize a dime from the | papers disconnted for Frank Bodine, | named in the first count of the indiet- { ment. He added that the same applied |to all of the 26 men named in the in- | dictment, except certain small parties. He said the Intermediate Bank had charged off losses in the amount of al- most $1,200,000. Bond Financing Grows. NEW YORK. March 16 () —New | financing through bonds far outt-strip- ! ped stocks this week so that the total | since January 1 overtook stocks. Total bond financing for the week, including | several large rallroad issues, was $190,- 478,000, against $75,245,000 in stocks. | The stock total compares with $20,519,- 000 issued last week. New stock financ- ing since January 1 totals $884,093,000, against $919,216,000 in bonds. Stocks still maintain s big lead over the eor- responding 1928 period total of $180,- 505,000. . — e L] BUILDING PERMITS OFF. NEW YORK, March 16 (Special).— The gain noted in building its in January was not continued during the next month. On the contrary, Febru- ary’s projects, says Duns report, in- volved an estimated expenditure fully 15 per cent under the amount for the same period of 1928. Considered in a geographical sense, the decrease was almost general, the New England sec- tion alone reporting an increase. WASHINGTON STOCK EXCHANGE YEAR 1929 TO DATE (Reported by W. B. Hibbs & Co., Hibbs Bullding, Washington, D. C.) SALES OCCURRING ON THE WASHINGTON STOCK EXCHANGE FOR 1929 TP TO AND INCLUDING FRIDAY, MARCH 15. BONDS. PUBLIC UTILITIES. nete Open. High. Lew. Close. maturity. Anscostia & Potomac River R. R. Ist bs, 1048 96 96 96 96 S.34% Capital Traction 1st 5s. 1047 C. & P. Telephone lst 5s. 1829 . C & P. Telephone of Virginia Ss. 1943 . 103% Oty & Suburban Ry. 1st Ss. 1848 . Georgetown Gas Tight lst 55 1961 . 108 s 5.25% 0% Potomee Elect: - Jower 1st 85, 1920 Potomac Electric Power cons. 55 Potomac Ele Power gen. 85, 195! Washington Gas Licht gen. Ss, 1960 ‘Washington Gas Light series A 6s, 1 * Washington Gas ‘Washington Rail Washingten Rallway & Electric gen. MISCELLANEOUS. Barber & Ross, Inc. 6%s. 1937 .. Chestnut Farms Datry. Ine., 6%s, 1 Dist. of Col. Paper Mfg. ist 6s, 1937. Washington Cons. Title 6s, 1051 .. Washington Market Cold Storage Ss. 1 STOCKS. PUBLIC UTILITIES. Capital Traction . 8 Potomae Electric Power pfd. Potomac Electrie Power pfd. Waskington Gas ;i Washington Railway & Elec. com. Washington Rallway & Elec. pfd. NATIONAL BANKS. Capital TRUST OOMI 5 American Becurity & Trust Mere) ' Bank & Trust National Savings & Trust Union Trust .,........ Washington Loan & Trust . BAVINGS BANKS. nk of Bethesda st Washington PIRE INSURANCE. Ameriean 5 Piremen's . Natfonal Union . TITLE INSURANCE. Columbia ..... Real Estate ..... Title & Inv. Co. of Md ecom. Washington Cons. Title Ins. ptd. MISCELLANEOUS. Barber & Ross. Inc.. com Chestrut Parms Dairy com. Chestnut Farms Dairy pfd Chevy Chase Dairy pfd. Columbia 8and & Grevel b Commercisl National pfd. D. C. Paper Mfg. Co. pfd District National Securities Pederal-American Co. com. Federal-American Co. pfd. Pederal Btorsge Co. pfd Lanston Monotype . % Transfer & Stg. com.. fer & Btg. ptd... Mergenthaler Linotype National Mtge. & Inv. pfd. Peoples Drug Stores pfd. 1 Becurity Btorage .. Terminal Ref. Whg. Cor Washington Mech. Mtge. Com. Army & Navy Ciub 5. 1961 ..... Cosmos Club 4128 (retired annually Commercial Club 1st 58 ........ Metropolitan Club 4'4s, 1936 ... o f course Par. Div. valte. rate. 100 100 100 100 b 107 k) 8% 18% JOHNSON"$ ELECTRIC FLOOR THE AY STAR., WASHINGTON, V. D7 MXRUE TP T9-PIRT Y —eee e O pay FEATURING STARTS MONDAY POLISHES WHILE YOU WATCH ¢+ .. WAS *42:2 950 This week is your opportunity to save your back, your hands, your floors—and $13/ Take advantage of this great six-day selling to own theamazing JohnsonElectricFloorPolisher. At a snap of its switch, it will wax-polish your floors, wood and linoleum, to burnished beauty. Better and quicker than ten men, using the old method. It skims along by itself. No bearing down or pushing. No bending over. Simply guide it with a finger touch. Weight and work are re- placed by speed and ease. Its JOHNgON'S ELECTRIC whirling brush, revolving NOW 2100 times a minute, polishes Johnson’s Wax to a hard and flexible film that protects your floors from dust and wear. Scrubbing is ban- ished. The expense of floor finishing eliminated! A store, convenient to you, joins this great nation-wide event, featuring the new im- proved model Johnson Floor Polisher (for- FLOOR POLISHER CONVENIENT TERMS WITH A SMALL DOWN PAYMENT OFFERED BY MANY DEALERS WASHINGTON ALPHA HARDWARE CO., 806 Bladensburg Rd. N.E. AMERICAN PAINT & GLASS CO., 1210 Emerson St. N.W. ARCADIA RADIO, 4327 Wisc. Ave. N.W. i ATLANTIC HARDWARE CO., 2016 14th St. N.W. W. F. ANDREWS SONS, 1804 14th St. N.W. BALTIMORE RENOVATING CO., 2323 18th St. N.W. L. BARR & SON, 2004 M St. N.W. OTTO BENSON, 5008 Conn. Ave. ALEX. BERLIN, 603 Pa. Ave. S.E. BLOOMINGDALE HARDWARE .. 1841 Pirst St. N. ve. BROOKLAND HARDWARE CO., 3509 12th St. N.E. BUDHIL STORES, 3501 12th St. N. BUTLER-FLYNN PAINT CO,, 609 C St. NW, H. COLMAN & SONS, 1319 7th St. N.W. EDWARD COOPER, 1502 14th St. N.W. GEO. E. CORBETT, 409 10th St. N.W. CRAVEN & CO., 1919 Penn. Ave. N.W. CARL W. DAURBER, 2320 18th St. N.W. GILBERT PAINT & GLASS CO. DAVID GLASSMAN, g i GOLDENBERG'S DEPT. STO! M. GOLDSTEIN, 905 H St. N.E. FRED M. HAAS, 2008 Rhode Island Ave. N.E. J. C. HARDING ELECTRIC CO,, 1336 Conn. Ave. N.W. HECHT CO,, 7th & F Sts. NW HOPKINS HARDWARE CO., 3345 M St. NW. J. W. HUNT, 1221 New York Ave. N.W. S. KANN SONS & CO, 8th & Pennsyl C. F. KENNEDY, 703 Kennedy St. N.W. KRAEMER & DUEHRING, 1414 BENJ. KRUGER, 2010 18th St. N.W. NSBURGH & BRO. GEO. W. LE Philadelphia Branch 620 S. Delaware Avenue RE, 7th & K Sts. N.W, Wb St. N.W. merly $42.50) at the reduced price of $29.50, complete. See it. Make it yours this week. S. C. JOHNSON & SON, Racine, Wisconsin *The Interior Finishing Authorities” With every Johnson Polisher sold at the reduced price, dealers are giving FREE a half gallon of Johnson’s Liquid Wax, worth $2.40, and a $1.50 lamb’s wool mop. Long-handled, it saves your back, and even prevents soiling your hands, when apply- ing the wax. R i L L WP FRANK POCH, 4325 Wisconsin Ave. N.W. POTOMAC ELECTRIC APPLIANCE CO. 231 l4th St. N.W. HUGH REILLY CO. 1334 New York Ave. NW. ROSS & WELLS. INC.. 915 12th St. N.W RUDOLPH & WEST CO,, 1332 New York Ave. N.W. JOHN SAWYER, 1920 Nichols Ave. S.E. C. SCHNEIDER'S SONS, 1220 G St. N.W. SERVICE HARDWARE CO., 4710 14th St. N.W, 1. STAMLER. 7301 Georgia Ave. N.W. STEIN ELECTRIC CO,, 627 E St. N.W. TARKOMA PARK HARDWARE CO., 37 Laurel Ave.. Take Park. LAWRENCE TUR\'II.LE‘ISSM (‘,mmretim:l A\‘eA'N.W. T TYLER & CUMMINS, 811 H St. NE, UNION HARDWARE CO. 613 7th St. N.W. UNIVERSITY HARDWARE CO,, 3304 consin Ave. N.W, Y BROS., 101515 7th St. N.W. PAUL H. LEVY, 5111 Georgis Ave. N.W. WM. J. LOVELESS, 23 Florida Ave. N.W. WALSH BROS., 3430 14th St. N.W. WASHINGTON PAINT & GLASS CO. 3205 14th St. N.W. WATKINS & WHITNEY, 1410 14th St. N.W, W. R. WINSTON, 2922 14th St. N.W. WOODWARD & LOTHROP, 10th, 11th, F & G Sts. W. R. WINSLOW, 922 New York Ave. N.W. H. F. DISMER, 3124 14th St. N.W, DYER BROS., INC, 734 13th St. N.W. ECONOMY AUTO & RADIO SUPPLY, 3416 14th St. N.W. W. A. FINCH, 2416 18th St. N.W. H. P. FISCEL, 423 8th St. S.E. FOER WALL PAPER 1105 7th St. N.W. FRIENDSHIP BATTERY ELECTRIC SERVICE, 4238 Wise. Ave. N.W. FRIES BEALL & SHARP, 734 10th St. N.W. ANACOSTIA, D. C. J. FRANK CAMPBELL, 1300 Good Hope Rd. S.E. CHEVY CHASE, Md. J. 0. THOMPSON. POLISHER and Johnson’s Floor Wax are Featured Strongly at (Housefurnishings Dept.—Third Floor.) Tar Hrcat Co. “F Street at Seventh” WM. E. MILLER FURNITURE CO., 7th & E Sts. S.W. ::;;rl;‘é:‘l:‘l ll}l_?(;?l;:VARE CO., 5000 Wisconsin Ave. N.W. A Al SUPPLY CO., 917 H St. N.E. WALTER M H N’ . L N L T t. N.E. ER MORGAN PAINT CO., 421 10th St. N.W. MT. RAINIER HARDWARE CO., Mt. Rainier, Md. 0. W. YOUNGBLOOD, 341 Cedar Ave., Tskoma Park. ALEXANDRIA, Va. CHERRYDALE, Va. HY SILVER SPRING, Md. A ey ROCKVILLE, Md. SILVER SPRING ELECTRIC CO AR TiEo oy ¢ SILVER SPRING HARDWARE & PAINTING CO., INC. COLLEGE P K, Md. . H. & WM. E. MILLER FURNITURE CO, Silver Spring, Md. E. T. HARRISON CO.