Evening Star Newspaper, March 26, 1929, Page 14

: i Do Sl CAPITAL TRACTION - IS HIGHER TODAY Mergenthaler Leads Market in Activity—Insurance Sales Gain in Djstrict. BY EDWARD C. STONE. Mergenthaler Linotype was the most active issue on the Washington Stock Exchange today, 220 shares changing hands during the session and the price advancing a point. The stock opened at 106'2 for tWo|am Bosch.. 10-share 'ots. next 50 shares moved at 107, after which a 100-share block and 10 and 20 share lots sold / at 10712, Capital Traction showed further im. provement toda opening at 96Ya which prcved to be the low for day. The stock crossed 97 on the next sale I;ld’ ad- vanced steadily ion W. €. Teasle. 1o_chare lots until the close, at 98, a gain of 3% points over its recent slump to 95. Potomac Electric Power 52 per cent preferred came out at 10812, the 6 per cent preferred moved at 113 and Washington Railway & Electric pre- arred changed hands at 97%. Six hares of National Bank of Washington old at 311!5. Ten shares of Real Estate Title Insurance Co. moved at 235 and Commercial National Co. pre- ferred recorded 103. Federal-American Bank stock moved at 343%. Recent prices prevailed in_the bond division, Washington Gas, Railway & Electric and Capital Traction issues ap- pearing on the board. An unusually Jarge number of local stocks are now being quoted ex dividend, five bank ocks being among them. Life Insurance Sales Improve. Life insurance sales in February, over the country as a whole, showed a 5 per cent increase over February, 1928, »nd a 10 per cent gain over Febru- ery, 1927. In the South Atlantic sec- tion sales the infrease averaged 3 per A gain of 4 per cent is shown for the first two months of the yeqr, compared with the ~ame period in 1928. Sales of the 12- ronth period just ended are equal to those of the first two months of 1928. Maryland showed & gain of 20 per e~nt, West Virginia, 19 per cent; District of Columbia, 9 per cent; Virginia, 9 per cent. South Carolina had a gain of 5 rer cent, but North Carolina dropped 11 per cent behind the record for February, 1928. Nevada led the whole country with a tain of 42 per cent and Montana trail- 21 all the others with a decline of 26 rar cent. North American’s Net Higher Statement of North American Co. and cubsidiaries as of December 31, 1928, <10ws total assets of $841.227,394. com- rared with $727,190,796 at end of 1927, ~=d profit and loss surplus of $73,874,412, czainst $51,358,612. Current assets nounted to $50,492.446, including $22,- 733,678 cash and United States Govern- rent sesurities. and current liabilities were $29.190,518, against current assets ~f $48,832€82 and current liahilities of £27,573,538 it the close of previous year. Consolidated income account for year ended December 31, 1928, shows net in- *ome of $24,402,753 after taxes, interest, ¢~preciation and preferred dividends of ~ibsidiaries, the same as shown in pre- “'inary statement. This is equivalent ~fter 6 per cent preferred dividends, to £1.68 a share earned on 4,820,476 aver- rge number of no-par common cutstanding during the year and $4.50 ~ share on 5,011,960 common shares out- ~‘anding at end of year. This compares with $19,524.647, or $4.06 a share, on rverage number of shares outstanding ~uring 1927 and $3.86 a share on 4,514, =3 common shares outstanding at end cf-that year. Teagle Seeks Oil Waste Curb. Pointing out that failure to secure the ro-operation of oil producers in foreign rountries would render ineffective the rforts of American operators to curtail rrude overproduction, W. C. Teagle, rresident of Standard Oil Co. of New ersey, and one of the leading oil mag- ~ates in America, states that crude oil 5 so easily transported that any over- «ipply in foreign countries has the -ame effect on the world situation as though obtained in the United States. Referring to reports that efforts are heing made to control .not only the rroduction of crude oil but also prices ~f products the world over, he says the role purposes of the discussions which rre taking place is to limit waste tarough uneconomic production. Acacia Directors Re-elected. Re-election of seven members of the oard of directors to serve for a period of three years, and presentation of the sixtieth annual report by President ‘William Montgomery. featured the an- nual meeting of the Acacia Mutual Life Association, held at the home office here yesterday. Directors again named to serve on the board included Harry Blake, C. C, | Combs, J. Harry Cunningham, Thomas r. Jarrell, H. L. Rust, jr., Eugene E. Thompson, and J. P. Yort. Mr Cun- ningham is vice president and Mr Yort secretary and actuary of the associa- tion. President Montgomery's report to the Acacia membership showed that insur- ance in force now totals more than £300,000,000; membership is above 120,- 000; assets, more than $28,000,000, and new insurance paid for more than $56.000,000. ‘The directors comprise the following members in addition to those re-elected at the annual meeting: T. Jeff Adams, W. L. .Andrews, Charles E. Baldwin, William K. Cowden, Paul B. Cromelin, L. Whiting Estes, E. C. Graham, James | C. Hoyle, J. Claude Keiper, Arthur D. Marks, John T. Meany, Joseph H.!| Milans, William Montgomery, John B. Nichols, Charles F. Roberts, L. P. Steu- | art, E. Lee Trinkle and Francis D. Win- | ston. Reserve Banks Increase Loans. | Federal Reserve Board's condition | statement of weekly reporting member | banks in 101 leading cities on March | 20 shows increases for the week of | 122,000,000 in loans, of $75,000,000 in | investments and of $299,000.000 in Gov- | ernment deposits, and decreases of 5117,000,000 in net demand deposits, of | 350,000,000 in time deposits and of | 55,000,000 in borrowings from Federal | Reserve banks. [ Loans on securities increased $131,- 000,000 at all reporting banks, $91,000,- 000 in the New York district, $27,000.- 000 in the Chicago district, $11,000,000 in the Cleveland district, $7,000,000 in the Philadelphia. district and $6,000,- 000 in the Boston district. ; “All other” loans increased $17,000,- 000 at reporting banks in the New Yc-k district, and declined $26,000,000 in the Chicago district and $8,000,000 at all reporting banks. Commodity Prices Lower. Prices of commodities during the week ended March 23 showed a decline of 0.3 per cent, according to the whole- sale price index of the National Ferti- lizer Association. This followed an equal decline for the previous week. The chief declines occurred in leather, rubber and hides in the miscellaneous group; in butter, lard and tallow in the fats group; in eggs and flour in the other foods group, and in grains and feed: In contrast a sharp advance Ted in copper, copper wire and P _BITINANCIAL. THE. EVENING STAR, WASHINGTON, D. C. NEW YORK STOCK EXCHANG ADbItib! Power Aoitidl Po pt(6). us 13413 134% 134% 134%% Abrahmast Adams Exp(6).. Adams Mtilis(2) Adv Rumley..... Adv Rumley pf. Ahumada Lead. Alr Redctn (13). Ajax Rubber.... Alaska Junea... Albany Papr(2) Alleghany Corp. y A 5% Chem Chaim(7). Amerada(2).... Am Agricul Chm Am Agri Ch pf.. Am Bank N(13). Am Beet Sugar. The | Am BrSh(h1.60). Aw Brown Bov Am Can (14) AmCar&Fdy (). Am Chicle (2) Am Encaus (2).. Am & kor Pow. ., Am&ForPo(rts). Am Hawa SS(1). Am Hide & L pt. Am Home Pr(3). Am Ice (13). Am Internatl 32, Am LaFr&Foam ). Am Ma & Fy(4). Am Metals(3),.. AmPo&Lt pt(6)) AmP&LDS sta 6. Am Radiator(5) Am Ry Ex(6). Am Republie Am Ship & Com. Am Sm&Ref(4). Am S & Rpf1). Am Snuft (12). Am Stl Fdys(3). Am Steel Fy rts. Am Sugar. Am Sumatra(3). Am Tel & Tel(9) Am Tobacco(8) Am Tobac B(8).. Am Tob pf(6). Am TypeFo(8) AmWW&EI(cl) o Am Woolen pf. Am Writ Pa ctfs Anaconda (rts).. Anchor Cap 2.40. Anchot pf (634). Andes Copr (3) Archer Danls(2) Armour Del pt 7. Armour 11l(A) Armour 11i(B! Armour 111 pf(7. Arnoid Con & Co Art Metal(1%). AssoDryGuzi). Atchisop10)..., Atchison pt(6).. Atl Coast L(110) AU Guif& WI.. Atlan Ref(t1%) AtlasPowder(4)., Austn-Nichols 3) Autostrap A(3). Baldwin Loc(7). Bang & Ar(33%). Barnsdall A i2). Barnsdall B (2). Bayuk Cgrs (2) Borden Milk(6). Briggs MfgFCo. British Empire. . Brockwy Mot(4) Bklyn Kdisn(8). Bkiyn-Man(4). Bkiyn-Man pf(8)} BrownShoe(2% ) Brunswick B(3) Brunswick Ter., Bucyrus(l)..... Bucyrusevi2y) Burns Bros(B).. Burroughs (15) Bush lerm(gi). Butte Cop & Zino Butte & Sup(2). Butterick Co. Byer & Co..%... By-Prodets 1234 Calif Puckid). o Callaban Zine. .. Calu & Ariz (6). Cal & Hecla(4).. Can Dry (14%). Can Pacific(10). Canon Milis 2.80 Case Threshg(6) Cavanah Dobbs. Celotex Co (3) Celotex (rights). Cen Aguirre(2). Cent Alloy«2)... Century Rib M., Cerro de Pas(6). Corto (14)...... Certain-teed Pro Certain-teed pf.. Ches & UlIo(10) C& O Corpaid) Chi & Alton Chi % Alton pf. Chi&Alt pf ctfs., Chi Great West. Cnl Gt West pf.. ChiMil &St P.. Chi Mil & StP pt Chi& Nwn (4).. Chicago Pn Tool. Chi PT pl(3%4).. ChiRI&P(7) CR1&PPI(T). Chickasha(3). Childs(2.40).... Chile Cop (3%). Chrysler Mot(3) City 1ce (3.60).. City Stores new. Cluett-Peabi6). Coea-cola (4). Coca-Cola (A). . Coliias & Alkmn Col & Ak pf(7). Col ¥uel & Iron. Col & Southn(3) Col Gas & Elb). Col Gas&El new, Columbia Graph Col Carbon t4%. Com Credit (2).. Com Iny Tr(34). Com Solv (h8) Com Power(13). Conde Nast(2).. Congoleum-Nair Cong Cgra (5) ‘onsol Cgrs (7). Film prz). sol Gas (3).. ComsolGaspt(5) Consol Textile. . Container A 1.20 Contalner B 6ve. Cont Baking A.. Cont Baking B.. Cont Bak pf(8).. Cont! Can (2%) Contl Insur (2). Contl Mot(80¢).. | Corn Prod 13%. Coty, Ine (82) Cresley Rad (1). | Crown Zelrbck 1 Cructble Stl(6). Crucible pf(7).. CubaCar.eSugar. [ Cuban-Am Sug. . Cuban Dom Sug. Cudahy Pkg(4). Curtiss Aerot1). Cutir-Ham(3% ) Cuyamel Fruit.. Burns BrosA(8) 113 ligh. 411y Bl% 81w 530 530 30% 304 TR 80N ) ) 3% 3% 100% 101% 8 Sl 6 7 17 17 291 30% 100 100 272% 272% 170 21 17 59 116 15% 52% 52 119% 9 1134% 1684 6l 10% 96 99% 79 17 147 1684 62 i 135% 135% 194 194 65% 66 2 2 T T4l 49 497 212k 212 165% 165% 1665 1665 120 120 181 141 Bl% K15 204 204 46 4615 1% 1k 39 3y, 103% 156% 156% 130% B0 53 112 557 38% 6 12% 1 76 254 29 57% 197 103 177 1970 103 177 4215 a2y B¥le b9% ¥6 96 6 o% 26% 27 87w 374 44 44 240 240 43 197% 170% 4l 424 4 4 55% 55% 3053 30s% 69% 90 84 84 89% 39% 4T 4Th 29 29y 5% 36w 4 44 13 3% 31% 270% 270 6ol 66% Ta B 9% 9% 30% 301 63 153 110% 110%5 5 3% 34 1281 129 51 52 4 B34 234% 41% 425% 35 66% 66% b n 37 37% 43 43y 145 14% 105 106% b9 5T% 20% 50 214% 20 145 180 16 17% 53 8318 53t 83 2324 9 4254 85 425 48 113% 487 112 100z 102 56 567 2l 22 63 63 124 48y b7k 91 6243 « 634 1134 113 137 139% 87 57 2% 2% 130 131 47 484 162 162' 249% 250 126m 127% 88 28% 24 80 B4 200 167k 102 103% 100 63 114% 114% 3% By 1% 12 19 19 1Y% 11 bW 5% 54t Bl 145 145 €0 60 6% 6% Low. _3:1 80 525 525 30 30 0% 71 697 39 981 8 5% 17 27% 100 260% 110 96 166 b5'a 10% 89 697 31 984 8 3:15. 40042 Almlnel& Hud(9). 80'5 | Del L & W(17) i Den RG Wn pt, | Detroit Ed(8)... Devo&Rayn(13). Dome Mines(1). Drug Inc(4). Dul S S & Atl pf. Dunhill Int (34). Duplansilk pt Dupont de N(4). Du Pont deb(6). Durham Ho: Eastman(1! Eaton Axle (3) Kitingon (2% ). .. Bitingn pf(634). Elec AutoL t4%. Electric Boat. .. BlecPow&Lt(1), Blec P&Lt vf(7) Elec Stor B (5). Eik Horn....... Eng PubSer($1). Eng Pu S pf5). Eng PuSpf5%. Equit Bldg(2).. Erie R R. . Erle Ist pf. Fureka Vac (4).. ! EvansAu L $2 Folrbanks(3)... Fashion Park. Fed Mot T(80¢). Fidelity-Phoenx First NatS(14). Fisk Rubber.... 5 | Fisk Rubber rts. 135% 194 62 2% 24 47 208 160 160%s 120 140 % 19% 45 11ty 30% 99 142 195% 108 175% 4l% 5% 9z 6 247 87ly LIy 232 1184 79 6518 390 175 331 3% 53 305 63 81 39 425 28 22% a2 13 311 265 265 65 65 % T4 8l @ 8y 30 30 135 135 104% 104% 2% 3 121% 44 3 121% 424 T9% 9% 226% 231 39 39 412 412 33% 33 66 % 31y 40% 148 100% 594 2% 4474 105% 895 5614 21 6274 594 113% 133% 55 64t 121% 4 122t 7 7 u2% 2% 6 7 8Lz Bl €5l 25% 954 9913 63 85 85 1% 114 53% 'y 1350 14118 Curtis Pub (6).. 123% 123% 122'% 122% 584 58'a Fisk Kub ist pt. Fleischman 1334 Florsheim pf(6) Follansbee 1214 . Foundation Co. . Fox Fiim A(4). Freeport T (4). Gabriel Snub A rdner Motor.. Gen Am TC(34). Gen Asphalt. ... Gen Asph pf(5). Gen Cable . Gen Cable Gen Cigars(4) Gen Electrie t6.. GenElec sp(60c) Gen G&EI A 1%, Gen Mills (3)... Gen Mills (rts).. Gen Motors (3). GenOutdrad(2). Gen Outdr Ad(4) Gen Ry Sig(5).. Gen Refrac(s).. Gen Refrac(rts) Gillette S R (5). Gimbel Bros.... Glldden (11%).. Gobel (Adolpn). Gold Dust (new) Goodrich(4). ... Goodrich pf(7) Goodyear Tire. . Goodyr 1st pf(7) Gothm nv(2%).. Gotham H pf(7). Py Grand F&W (1). Grand Unon.... Grand Un pf(3).. Grant W T (1).. Grt North pf(5). Gt Nor pf cfst5) GrNorOr efs 3% . Grt Wo Sue 2.80. Greene Cana(3). Gulf Mo & Nor.. Gulf States(rts) Hahn Dept Stor., Hahn D S pf 6%. Hartman A(z).. Hartmn B(1.20). Helme Geo(17). Hersney Corp, Hershey pf(4 Hershey pr pf(6) Hollnd Fu(e2%) Hollander & Son Homestake(17).. Household(14) Hud Man(2%).. Hudson Mot(5). Hupp Mot(£2)... Illinols Cen(7).. Ind O & Gas (2). Indian Mot (1).. indian Refining. Indian Ref (rts). Indian Kefg cifs Ind Ref cfs(rts). Indust Rayon... Ingersoli-R(16). Inland St1(3%). Inspiration C(4) . InterboroRapTr. InterconRubber. Internat Agri. .. Intl Bus Ma (§). Int Cement(4).. Int Com Eng(2). Int Harv (2%). Int Harv pf(7). Int:Mer Mar pf.. Int Nick,Can 80¢ Int Paper(2.40). { Int Paper pf (7). Int Pa&PoA2.40. Int Papr & Po B. Int Papr & Po C. Int Pa&Po pf(7) Int Prig Ink 2%. Int Tel & Tel(6) Inter Dept S(2).. Intertype(tia). Island Creek(4). Jordan Motor. Kan City Sou(5) Kan CSo pf(4).. Kuufmn DS 1% . Kayser J(5).aus Keith-Albee Kelly-Sprin| Keis Hayes(2). Kelvinator Corp. Kennecott (4)... Kinney (G R). Kolster Radio. Kraft-Pho(1%4). Kresge (1.60)... Kresge Dept 8. |Kress S H (1). Kreuger & Toll. Kreuger&Co rt; Kroger Grotel). LagoQil.., .. .. Lambert Co (8). Lee Tire & Rub. LehighVal(3%). Lehn & Fink(3). Lig Myers(16). Lig & Myrs B 16 Lig & M pf(7).. Lima Locomtve. Link Belt (2.40). Liquid Car t4%. Loew’s (13)..... s DL (6%). rillard Co. | Louistana Oil | Louts GasA 1.76. | Louts & Nash (1) | Ludium Stl ctfs. | Ludlum S pt 6%. | Mac And(12.85). Me Call Corp(4) McCrory B(2).. McCrory pf(6).. McGraw Hill(2). Mclntyre P(1).. McKeespt Tin Pl McKes&Ro 1.60. McKsn pt A 3% Mack Truck(6).. Macy Co (€2). Mad 8q Gar 1%. Magma Cop (5). Mallison & Co. Mandel(2%) Man Elec Suply. Man £l m2g(db) Man Shirt(2) Maracaibo Oll. Marland Oil. Malr-Rock (14). Marmon Mot(4). Martin-Parry Bl T4 g Int Comb pf(7).. 1 80% 57 138% 172% 52 56's 99'% 152 20% 3% 25 3y 30% 46 28% 13% 8% 70 4% 138'% 174 11 814% 674 28 Maytag pf (3).. Miami Cop (2).. Mid-Cont P(2). Middle States. Mid States ctfs.. Midland pfitiz) Miller Rubber. .. Minn & St Loul, M St P&SSM pt.. Mo Kan & Tex.. Mo K&Tex pf(7) Missour! Pacific. MoPacific pf(5). Mohwk Car 214 . Mont Ward 2%.. Moon Motor..... Mother L (40c).. Motion Pic Corp. Motor Meter A.. Motor Prod(2).. Motor Whi (2).. Muilins MfK. ... Munsingwi(3).. Murray Corp. Nash Motors(6). Nat Acme (1)... Nat Bellas H $1. Natl Biscult(17) Nat Cash Reg 14 Nat Dairy (33) Nat Dept Stor Nat Distilier Nat Distillers pt Nat Enamlg (1). vat Lead(6).... Nat Pow&Lt(1). Nat Radiator. .. Nat Ry Mex 2d.. Nat Supply (18). Nat Tea (1%)... Nevada Cop (3) N Y Central(8). N Y C&StL6). N Y CStL pf(6). NY Dockeeosoos NYNH&Hart(4) NorAm bl0 %stk North Am pf(3). No Germn Lloyd Nortn Pac(b)... or Pac cfs(b Norwalk Tire... Omnibus. .. OppenhmCol (4) Otis Elev (6). 1 | Otis Steel.... Otis Stl pr pf(7) Owens Bot (c4). Pacific Gas (2).. Pac Lightg (3). Packard (13%).. Pan-Am Petrolm Pan-Amer Pet B Pan-Am Wn B.. Panhandle...... Paramount-F-L Park & TIl(33).. Park Utah(80¢c). Pathe EX......o Pathe Ex(A). Patino M (3.89) Peerless Motor Penick & Ford Penn C&Coke. . Penn Dixie Cmt. Pa Dix Ct pf(7). Penn RR(3%).. Pet Milk (13%4).. Phila & RC&I. Phila&R C&1rts Pnil Morristl).. Phillips P (1%). Pierce-Arrow Plerce-Arrow Pierce Oil. . Pierce Ol pf... Pierce Petrolm. . Pilsbury (1.60).. Pirelli (A) 2.88.. Pitts Coal Pitts Coal pf. Pitts & WVa($). Por RicoToA(7). Postal T&C pf 7 P P Pr Stl Car pf(7). Public Serv 2.60. Pub Serv NJ rt: Pullman Cot4).. Punta Aleg Sug. Pure Oil Purity B Radio (new).... RadioCo pf(3%) Radio pf (B)...} Radio-Keith(A). 1 Remingtn-Rand. Rem-Rd 2d(8). Reo Mot (11) Rep 1 &S(4). Rep 1& S pf(7). Reynolds Spngs Reynlds (B)2. RhineWE(1.92). Richfleld Oil. RioGrande Oil 2. Rossia Ins 163%. Royal Bak P(1). Royal D(a1.336) Safeway (3) St Jos Leaa 13). StL & San Fr(8) StL&Sank pf(6) StL&Southwest. Savage Arms(3) Schulte (13%).. Seagrave(el.z0). Sears-Roe(312%) Seneca Copper. . Shattuck FG(2). Shell Un(1.40). Shugert The(5). Simmons Co(3). SimmsPet(1.60) Sinclair Oil 123 Sinclair prs)... Skelly O11(2)... Snider Packg Co Snider Pkg pt... So Po R Su 12%. South Cal Ed (2) South Dairies A, South Dairies B. South Pact6)... South Ry(8). Spang Chalfnt. . Spen Kellog 1.60 Spicer Mfg..... SpicerMfg pf(3) Spiegel Co (8).. 14 | Stand Com T(1). SlAG& K (3%). Std G & E ptid). Std O of Cal(13) | SWOIINJ(113%4). " ; 6 Y (1 e Gl Std San M( Staniey Co..... Stewart-War(8) Stromberg (3).. | Studebaker (5). Subniarine Boat. Sun Ol (g1). Superor Uil Superfor Steel. . Sweet of Am(1). Symington...... Telautogrph(1). Tenn Coppertl). Texas Corpn(3). Tex Cor part pd. TexasulfSul(4) T&P C&O(b2%) Tex Ld Trinew) The Fair(2.40). Third Avenue. Thomp J R(3.60) Tidewater AsOil TidewatrO(80¢) Timken R B (3). Tob Prod (1.40). Tob Prod A (n). Transcont Oil. .. Transue & W(1) Trico Prod(2%) TruaxTraer 1.60. Truscon S $1.20. TwinCityRT(4). Undwd-EI F (4) Un Bag & Paper. Union Carb(8).. Un O1l Cali3) Union Pac(10). Un Pacific pf(4) Utd Biscuit 1.60. Utd Cigar 8t(1). Utd Cgr St pf(6) Utd Elee Coal. .. Utd Fruit (c4). 411y 24%9 26 47 45t Open. High. Low. 4l 20 3:15. i portion in the total ex Received by Private Wire Direct to The Star Office CIP 1st 1.20, Distributing Distrib pf(7) s S Leather..... S Leathr A(4) S Reaity(4) S Rubber.. S Kub 18t pf.. S Smelt(3%).. S Steei(7).. U S Steel pf(7).. U S Tobacco(3).. Unt Leaf Tob(3) Univ Pipe & Rad Utll P&L Ace2), Vadasco Sales. .. Vanadium (14)., Van Raalte..... Vick Chem(4) Vietor pr pf(7 Va-Caro Chem. Va-CarCh 6 %pf. Wabash pt A(5). Waldorfillg). .. Walworth(1.20). Ward Baking B. Warner Bros Ple Warner pf(2.20) Warner-Qu(z).. Warrn Bros (15) Warren F&Pipe. Wesson Oil (2)., Wesson O pf (4) Wes O&Sno pf 7. West DairyA(4) West Dairy B.,, West Marylan West Md 2d pf West Pacific. ..., West Pacific pf.. W U Teleg (3).. Westhse A B(2)., Westinghse(4). . Weston Electrie. White Kagle(2). White Mot(1). ., White Rock (3). White Sew Mach Wilcox 0il & G Wilcox (A) 2%. W:lcox Rich B., Willys Ov c1.20. Wilson & Co.... Wilson & Co pf. Wilson Co pf A.. Woolworth (6).. Worthn Pump. . Wright Aero(2), Wrigey ((13%). Yale&Towne(4). Yellow Truck... 36% 37% Young Spring.. 56 57 6 56 Youngstu Sh(5). 117 117 115% 115% Hourly Sales on N. ¥. Market. 10:30am.. 705400 1Zm... 9.400 1:30 p.m. 5,639,400 2:15 p.m 6,686,500 Dividend rates as given in the above tacle are the annual cash payments pased on the latest quarterly or haif-yearly declarations. 7 Partly extra. 3 Plus 4% in stock. us * Unit of trading less than 100 shares. $3 in preferred stock. 1 Plus 1/35 in stock. @a Paid this year—no regular rate. b Pay- able in stock. ¢ Plus 5% in stock. d Pay- e Payable In cash_or n stock. & Plus 0% k. 1 Plus 207 in s 1/120 share _qu: m Payable i/10 share ai stock’ arterly in Unitea Clear Stores common stock: o Plus 1% % in stock. 66 Wall Street Briefs By the Associated Press. The board of governors of the Rub- ber Exchange of New York voted to close the exchange next Saturday as well as Good Friday. Members of the exchange, however, were asked to keep their establishments open on Saturday for completion of deliveries on March contracts. Tin shared in the fall of prices on various markets today and March and April contracts fell one-quarter of a cent to 48'4 cents, or close to the low- est level on the National Metal Ex- change. Leading western steel producers fore- cast that March will be the biggest month in the history of the steel busi- ness in the Chicago district. It is be. ileved the first quarter also will set a record. Steel ingot production is re- ported at capacity. Commodity Notes Automobiles. | jumped to 17 per cent, TUESDAY, MARCH 26, --1929. STOCK PRICES DROP IN CREDIT SQUEEZE Further Advance in Money Rate ‘Forces Fresh De- cline in Market. BY GEORGE T. HUGHES. Special Dispatch to The Stai NEW YORK, March 26.—Fresh liqui- dation, forced and voluntary, swept over the stock market again today in huge volume. Prices broke through yesterday’s lows and carried the whole list down. The pressure was steady and relentless and every attempt to rally the list only brought out new offerings. At the start there was a feeble re- covery from the preceding close. Some buying was based on the theory that after so violent a break as that of yes- terday—coming as it did on top of a downward trend last week—a recovery, temporary at least, was in order. Then, too, there was a certain amount of short covering, taking of profits by those who had sold for the decline. Money Rates Advanced. This sngport. however, was inadequate to stem the selling tide. In some cases quotations gave way slowly and there were few wide-open declines, and yet the trend was so unmistakable that not only did the pools stand aside, but new buy- ere decided to hold off. It was the stringent credit situation that frightened speculators, Call money renewed at 12 per cent, a rate un- equaled for renewals since January 2. Even at this Yigure the demand exceeded the supply and at noon the price t which rate | some loans had been made in the owt- side market during the morning. ‘The question was how high the banks would let the rate go before coming to the relief of the market. It was all too plain that the admonitions of the Federal Reserve to cut down on the amount of funds for speculative use were being heeded. In one respect the market was similar to that of yesterday. Except among a few high-priced specialties, losses were never large between sales but the prog- ress was steadily toward lower levels. It was the kind of market that made | those still long of stocks on margin excessively nervous. | Before noon standard stocks, issues of undoubted investment merit, were under | the low of yesterday. Included in this | list were United States Steel, General | Motors, Anaconda, Kennecott, Johns- | Manville, Chrysler, National Cash | Register and Columbia Graphophene. Some of them were weaker than the others but none established a resist- | ance point. The copper stocks were pressed for sale regardless of the favorable trade situation. But Wall Street was giving no heed today to business outlook or to anything other than the tape itself, and that was reflecting the overbought condition and the squeeze in money. The copper stocks had attracted a large outside following because of their bril- liant prospects. Evidently ms were impaired and something had to be ced. It is the_rule in the first stages of a decline that the good stocks are thrown overboard first, and that :u what happened yesterday and to: ay. § Volume Gains on Decline. Measured by the highs of the year, the losses were extremely large. Ana- conda, for instance, below 150, was off more than 25 points from the best of 1929. Chyrsler, under 97, was down 38 points from the year's top. Montgomery- Ward, below 118, was off some 38 points. Of course the losses from the preceding close were much less, but the figures gllv;n show that considerable correction already been effected. It was significant that volume today exceeded yesterday, as large as that day's turnover was. Up to noon trans- actions today totaled 2839400 shares, compared with 1,814,600 shares at the same hour yesterday. This increase of volume on the decline was one of the most disquieting features of the trading. PESSET A sermon in the Scandinavian lan- guage was delivered recently in Nor- wegian Dannish Methodist Church, San Francisco. DETROIT, March 26.—The deliveries of the Chrysler Corporation so far this year show a gain of about 13.7 per cent as compared with those of last year. Since the sales of the company gained 30 per cent in units sold in 1928 ‘profits seem likely to be higher this year. Lumber. ALEXANDRIA, La.—The lumber in- | terests of Louisiana are increasing their facilities for extracting lumber by~ products. Plants are being erected to extract turpentine, tar, pine oil and charcoal from pine stumps, and the creosoting plants are also increasing capacity. Steel. CLEVELAND.—The Ohio Seamless Tube Co., Shelby, Ohio, reports that production has increased considerably and that orders received in this quar- ter are materially in excess of those for the same time last year. Ohio Seam- less manufacturers among other things produce parts for autos and airplanes. Builders’ Supplies. PITTSBURGH.—Steps are being taken to arrange a consolidation between the Western Builders’ Supply ~ Association here and ‘the Eastern Material Dealers’ Association. The Western handles some $200,000,000 worth of material annually. MANUFACTURED GOODS FEATURE U. S. EXPORTS By the Associated Press. Increasing predominance of manu- factured goods in American overseas trade was indicated today by Commerce Department figures analyzing February { imports and exports. For that month, finished manufac- tured goods made up exactly 50 per cent of the Nation's total exports to world markets, whereas last year their pro- Tt was just under 44 per cent. Other categories of the import and export trade for February showed only moderate changes. The department’s estimates of the trade by categories as compared with the same figures for the month last year follow: Exports—Manufactured goods, $217.- 539,000, against $158,786,000; partly manufactured goods, $61,165,000, against $55,755.000; foods ready for consump- tion, $40,075,000, against $39,480,000; raw foods, $23,629,000, against $13,305,000: raw materials for use in manufacturing, $92,826,000, against $95,287,000. Imports—Manufactured goods, $75.- 227,000, against $72,188,000; partly manufactured goods, $69,583,000, against $64,382,000: foods ready for consump-| tion, $36,764.000, against $36,039.000: raw foods, $50,176,000, against $47.544- 000; raw materials for use in manu- facturing, $137,715,000, against $130,- 882,000, POTATO MARKET WEAK. CHICAGO, March 26 (#).—(United States Department of Agriculture)— Potatoes—Receipts, 138 cars; on track, 412 cars: total United States shipments, 683 cars; trading very slow, market weak; Wisconsin, sacked, round whites, 60a70; Minnesota and North Dakota, sacked, round whites, 60a70; sacked, Red River Ohio’s, 85a90; Michigan, sacked, round whites, 60a70; Idaho, sacked, russets, 1.40a1.55; extra fanecy shade higher. g 2 A $200,000 Sunday school unit is a proposed addition to the $400,000 plant oc( 1‘1.‘{1.‘ First Baptist Church, Pasadena, al - R Consult Us First If you need money for your Real Estate.financing let us have your application today. 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