Evening Star Newspaper, March 26, 1929, Page 15

FIN ANCIAL THE EVENING STAR, WASHINGTON, D. TUESDAY, MARCH 26, 1929. FINANCTAL " PRESSURE ON BOND | Coxerwonx_BONDSsocx sz . PRIES CONTINUES Higher Money Rates Result in Further Reactions in List. BY CHARLES F. SPEARE. Special Dispatch 10 The Star NEW YORK, March 26.—The 12 per cent renewal rate for money today, with time loans at 8! per cent for short dates, put further pressure on the bond market. There were numerous declines in high-grade issues, with the convertibles reflecting the irregn ity in stocks and several of them ai the lowest prices since they were listed. The afternoon break in stocks in- creased liquidation in all groups of bonds and there was an increase in ac- tivity on the decline. The domestic bond average has touched a new low for the year in this ‘week’s decline and is now about 2 points below the January level and 5 points under that 0! last May. The curve, which was sfightly upward after Sec- retary Mellon’s turned abruptly downward. There is not much liquidation, but supply ex- ceeds ‘the limited public and institu- tional demand. The fact that bankers’ acceptances gives such a good return has crippled the market for short-term securities, which have “been relatively weaker than long maturities. Aside from International Telephone 4';s, which repeated yesterday's high price of 119, only to drop later, the speculative bond list was reactionary. Public Service of New Jersey 4l2s de- ¢lined 4 points. Atchison 4'is, Ameri- ¢an International 5'5s and Alleghany 5s were at the lowest since they were listed this year. International Cement 55 were Off fractionally, selling 15 points Jower than a few weeks ago. Anaconda Copper 7s opened 4 points higher, but subsequently reacted. There were quite heavy offerings of Dodge 6s ;t 99, of a fraction undsr their pre\ious ow. “ifst - mortgage rails of the better grade showed moderate declines, as did public utilities. The junior rails were distinctly heavy, including St. Paul ad- justments, Seaboard Air Line adjust- ments, Missouri Pacific 4s, New Haven and Rock Island 413s, the last selling under 90. Several of the foreign issues that broke sharply yesterday made substan- tial recoveries. In general this group ‘was heavy, showing declines in South American, German, Freach and Japa- nese issues. A $30,000,000 public utility converti- ble issue will be brought out tomorrow by the International Hydro-electric Co. This will probably be the only impor- tant piece of new financing this week. Machine Tools Trade Gains. NEW. YORK, March 26 (#).—Busi- ness_in machinery and machine tools continues on a high plane and is well :clflfr!d f‘fngm fi:;ee throughout th metal-wol healthy condition in the American Machinist. From present in- dications the sales total for March will be of record proportions. Enough or- ders have been booked ahead to keep the machine tool builders busy for ma y months to come, and the chief coi pllil;l:mi.': the scarcity of skilled ma- by L GO Washington Stock Exchange < SALES. ‘Washington Gas 6s “A"—$1,000 at 103, $500 at 103. W-sh*ngwn RBvy. & Elec. 45—$1,000 at c.p ‘Traction Co—10 at 96, 10 at 971%, 15 at 9714, 10 lt 97%. Polmuvc Electric 5% % pfd—10 at Pcwm Electric 6% pfd—10 at 113. w;'s,muv.on Rwy. & Elec. pfd.—10 at Nat'l k of Washington—6 at 81115, Real Estate Title Insurance Co.—10 at 235. Commercial National Co. pfd—10 at 103. Mergenthaler Linotype—10 at 10615, ‘10 at 1062, 10 at 107, 30 at 107, 10 at 107, 100 at 107", ¢4 10 at 107, 20 at 10715, 20 at 1075, National Mtge & Inv. pfd.—1C0 at 5%, 100 at 5%. AFTER CALL. galhl TE?:(;‘T 5;0—33 ,000 at 9915, 4 mac ric 51 d.—2 at 108% 5 at 1083 a2 2 T Ter Ref. & Whrs, Corp.—10 at 51, 10 t 51, !ed‘eanl-Amerlcn.n National Bank—5 at Capital Traction Co.—10 at 9814, 10 at 981, ol st Bid and Asked Prices. BONDS. PUBLIC CTILITY. & Telea. 47 & Telen. 4'23 Tel. ctl. tr. 5 na. ot gonr. se 33 Trl-n')#{nre g' Tel. of Ve 58 Eadithi Toacrion . K City & Suburben 4. Amer. Tel. Amer, Tel Am. Tel 100% ioiia otomac Elec cons. 02 Potomae. Elee 108 t 103t & Elec ven. 6s . mscmmn:ous c!nher‘& “Rn) i nam-Vanderbilt Hb(fl ( Chestnut Farms I)llry 621 Sh!é) 5 ase Sl'; 51 ? Baper 51 B, O saper i, o $i Wesh. Mkt. Cold Stor Wash. Cons. Title Co. 65.. STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga Eapital Traction Ce Washington Gas % W. Steamboat otomac Blee. 67 1.7 pld 7 & Eiee com Rwy. & Biec. pld NATIONAL BAN] Copital Wash. RUST COMPANIES, Jmerican Security & Trust O ontinental _Trust Merchants_Bank National Tnion Trust Washington Lo Security Beventh Duited St Washington TITLE INSURANCE. Columbia Title. ... I Estate Titie Co. of Md.’com s, Title pfd. .. MISCELLANEOUS. Barber & Ross. Inc.. com. Chevy Chase Dairy pfd st Peéeral Storase vid ‘edera)-American Co. com deral-American pfd .. . Anston Monotype Werch. Trans. & Stol erch. Trans & smuue ptd. \fergenthnler ¥pe .. & Lib3%s.... 85 Libiste%s 41 Lib ath 48 177 UBS3¥%s4e7. 4 USeKss2, 47 o7 98 98 96 4 106 by Private Wire UNITED STATES. (%aine are in $3.000. Sales. High. Low. Close 978 810 15 977 11 989 25 0817 9817 9531 964 105 18 105 20 FOREIGN. Sales. m;n Low. A A 581957 Austria 7a. Bank of Chile 6%s. Bank of Chile $%s. Belgium 7s 1955. Belgium 78 19586, Brazil 6%81927. Brasil 7s. Brazil 8s. Bremen State 7 Canada 651931, recommendation. has |C Colombia 6s Jan" Con Pow Japan 7s.. Copenhagen ¢%s 53 Cuba 538 Czecho 8s Denmark 6s. . Dutch East 1 El Salvador 8 Fiat 78 x war | Framerican 1% French 7s.. Ger Gen Elec 7s...4 Haitl 6s Japanese 4s. Japanese 63 Kreuger&Toll Lyon 6s. Marseille 6s. Mexico 4s°10 asnt.. Milan 6%s. Montevideo 7s Netherlands 6 Nord 6 Norw Nor Norway HR Norway 68 1944 Norway 6%8 1952 Orient Dev 5%8'57. 12 8674 Paris-Ly-Med 6: Paris- Paris Pirelll 7s'52., Poland 68 40.. Poland 7s (rets) Poland 8s. Prague 7%s. Queensland Queensland 7s. thuwn EP Rn %s u-n Paulo City 8s.. Sao Paulo 85 1931 Serbs Crot Sio Solssons 6s. Utd SteamCopen 6! Uruguay 8 Vienna 6 Abram&Straus$ % Ajax Rubber 8s... AmAgriChem 748, Am Cotton Ol 58. Am Int Cor 5% AnBmit& R 1. Am Sugar Ref Anaconda ev db Armour&Cod % Armour Del § Associated Oll Atl Gulf 8 68 Atlantic Refin bs. Bell Tel Pads B, Bell Tel I’a 55 C. Beth Steel 5348 b3.. Bethlehem Steel 6 Skiyn Bdison b8, Bush Term Bldg b Chile Copper bi Colon O1l €s°3 Cun Coal Md 18t ConGas N Y 5% Cuba Cane §s... Detroit Edison 6s. Dodge 6s. Donner Steel Duguesne 4 % s 67 Cubn Sug T%s Fisk Rubber § Gen Asphalt 6 Gen Cable 5%8°47. Gen Mot Ac Cor 6s. 11linois Bell 18t 6s.. Illinois Steel 4 %s. . Indiana Steel 58 Intl Cement 68 48 Int] Match 6s 47.... Int Mer Marine 6s.. Int Paper 68 47. Inter Paper 6s. Int Tel& Teleg 4%s. Int Tel&T Kan G & I 68 62... Kelly-Spring 8s.... Laclede G 6%852. . Ligget&Myersissl. Ligeett & Myers 78 Loew’s Inc §8. Loew's 68 w 0 war, Lortllard 5% Lorillard () 7 Midvale Steel 6s. Mont Pow 68 43 Mor's&Co 15t 4% Nat Dairy 5%s. Nat Radiator 6% NewEnglandTel bs. N ¥ Edison 6%s. NYGELH&PUs NYGELH&Pbs N Y Tel 448, N Y Tel6sdl.. N Y Tel 6s North Am Edis No Am Ed 514863, Nor Ohio Tr & L 68 h Mige com . . Medieai Bldg. Corp. oodwerd & Lcthrop PId. *Ex- Qividend, Nor States Pow bs. Pacific Gas & El &8 PacT & T 1et b ‘ePacT& T 5852 % b 1966... 34 14 « 19 102% 10215 102% 9 5 . 11 98% + 32 10215 10214 102% b 954 8% 934% 87 93% 3% &7 911y 9414 234 9% 97 97 97 98 97% OR 98I 9BY 11 107% 107% 107% 6 104% 104'¢ 104% 113% 112'% 113% 5 10812 108% 108% 1 5 9 8 HM" 106 24 100% 7 50 924 91% 50 98 1 18 90 90 100t 100% 0% 99 99 92% 92 96 106 99% 99% 4 100% 100% % 1031 103' W 991 991 9y 0 1% 90 10 92 101% 101% 10 38 37 a9 87% 86% B6Y 4 97w 9615 964 1 15 402 1 109% 109% 10914 | Atchison gen ¢ 6 21 15 1 h" 87 &7 102 87 102 109'% 109!y 108t 87 86 864 103 102 102 110 96 Direst o The Star Office Sales. High. Pan-Amer Pete 6s. 80 103% Pan-Amer Pete 2 104% Paramount 68 1947, 41 99% Pathe Exchange 7s. 7 80 PhilaCobs 67 wi., 14 Phila&ReadC&I 58, l‘l RemingtonAr 6s 32, Rem Rnd 5%s war., Sinclair Ol 6 Sinclair O1l 6 %8 Sinclair il 7s. Sinclair Crude 6% Sin Pipe Line 58 Skelly O11 5348, South Bell Te) bs... Southwest Bel 5 Stand Ol N J 68 46 Stand OIIN Y 4%s. SugarEstOriente TennElecPow 65 47 Transcont] Oil 618 United Drug s 63., US Rub 1st rf 6. U S Rub 7%s. U S Steels f 6 Utah Pow & Lt b Utilities Powr § Vertientes Sug 7 Walworth Walworth 6348 '35, Warner Sug 7s ¢1.. West Elec b8, Westn Union 88 81, 12 White Eagle O 5%s 106 Willys-Ov 6%3533., 3 Wiison & Co 1st 8. 16 WinRepeatAr 1%s. 4 107% Yngstn S&T bswi. 32100 RAILROAD. 21 94 Atch deb 448 '48. . 268 1124 AtlantioC L 1st4s. 8 924 Atlantic CL 4%s 64" 1 93% 5 90" 36 974 105% 91y 102 102 100% 9. 7 103% 103% 103% [B& O 1stSse 2 4 105% 105% 109% 110 105% 106 96% 6% 96% 101% 101 101 100% 100‘4 984 98 99 99 0'; 99 1T% 871 8% 102 1011 102 B&OTLimp B & O SW5s 50 B&OPLEWY 48. B & O Toledo 4 Boston & Maine 5s.. Brdway&7th AV 68 Bklyn Un EI 58'50. Bklyn Un El 5s sta. | Buff R & Pitt 4% Bush Term con 5 Can Nat 4%8 30 Can Nat 4%s 5! Canad North Canaa Pac deb Can Pac 4%s 46. 1 103% 1031 103y | Car Clinch&O 6s 10 New So Wales 58s.. 20 92% kJ 10 33 14 11 26 15 27 13 5 9 1 10 1 27 3 21 1 1 1 3 28 93 93 92 92 101% 101 101 9% 94 94k 99% 99% 994 100% 100% 100% 100% 100% 100% 100% 100 100 864 $6% 984 93 984 102 101% 101% 93% 934 934 861 85% 86 100% 100% ll)l)“h 125% 125% 1251 80% 80% . 80% 8d's B4 84u 97 96% 97 106% 105 105 102 102 102 109 109 109 80'% 90% 904 : 895 88% SBN 5 114% 1134 114% 4 2 8 o 82 104% 104 12 36 %1% 8y 1 11 12 1 4 109 6 5 25 4 27 1 1 37 16 1 15 12 8 2 1024 102 Alleghany cv bs w ) 153 105% 105% 105% 105's 105 105 P8% 96% 965 104% 8 90 S8l 984 98% 101% 101% 101% 1024 102 102 102% 102% 102% 108 1084% 98 93k 98!y ke 5 5 864 86U 86Y% 100 9% 997 104 .. 103% 103% 99% 993, 998, 108% 108% 108% 861 85% 864 84 8 Yokohama 68 wi... 10 92} 9% 924 MISCELLANEOUS. 111% 110 110 102 100k 98 99* 104% 104 9815 98 95% 108 10t 101% 100% 100% 100% 104 103 108% 99% 99% 39 103 102% 102 1021 102 102 105% 104% 1054 98% 9814 984 8214 824 824 1084 103% 103% 240 227 230 n 61 a1 39: 9% vy 91 2 102% 102% 102% Certain-Td5%srcts 2 5 106% 1067 105% | 5 101% 104 1041% | YBM 9Rle 9Rl4 | 11 T T 100% 100% 100% 103's 103% 103% 106'% 104'% 104% 100 99% 100 103% 102 103% 101% 101% 1011 104'% 104 104% 103 10214 10214 101 101 101 1% 69 69 95% 95 96y 105% 1 105 984 105 105 94% 9% 69% B8% 681% 105'% 105% 105% 102 102 102 6614 65 65 69% 69% 691 8 99% 98 100 100% 98 10045 98% 98% 98 | 81 81 81 1% 111% 111% 101100 100 107% 107 107 92% 9l 91% 99% 99%% 99% | 100% 100% 100% | 103 10214 102% 98% 9813 9Rlg 15 102% 1024 102% 4 4Y%scv1T84lly 9 28 1 Louisv G & E bs 52. . 12 113% 113% 5 100 105 102 = 9% 93 101 101 9% 94k 9% 931 94 93 1141 1031 103% 110 110 10215 102 101 101 118 118 10844 110 102 101 us 110t 97k 109% 109 100% 100% 98 104% 104% 104% 1134 91y 104% 98% 105% 1104 99%, 92 9l 1046 104 99 9RW% 106'5 1057 1104 110% 0% 9O% a0k, 101 100% 990 99u 201, 99% 1014 100% 102 .102 .102 100% 9% 99'% 100% "Erle 1st cons 48, INY W B K. .. Central Pacific 4 Cent Pac 18t 58 90, Chesa Corp 58 wi.. Cnes& Ocv4ls... Ches& O 4%3s'93 A CB&Q4%s77B.. Chi B & Q 1st rf bs.. CB&Qlldiv Chi&E 111 gn Chi Ind&L gen 5s. . Chi M&StP 4 %8 E. CRIPac4lswi.s Chi Union Sta bs.... S Fwanne- Erte Gen 48 Eriecvt 68 67 w Erie (Pa) elt tr Fia East C 58 74. Grand Trunk 7s.... Gt Nor 4%s76 D... Great North s, -t o BemCoaximEus - Great Nor gen 7, Hav El Ry 6%8 51.. Hud & Man a) 5 Hud & Man ref ilu 111 Cent 48 52 Ll Cent 48 5. 111 Cent Chi ¢ % [11-C-C-StL&NO Int Rapid Tran 6s.. int Rap Tr 6s stpd Int Kap Trans 7s... Int&GtNor adj 6s 63 IntRysCA 58 13... Int Ry CA 6%srct, Kansas City 8 8 -t ® - WO R oS aR et uamenS~ LehiVgen 438 20 Long 1srf 45 49.... Long 1s deb 55 34 Louis&Nash uni4s, Louis & Nash T Man Ry 18t 4 Market St 7840, ... Mill El Ry&Lt 4%s Mil 51 Ry & L b3 61 Minn & StL ref 48.y M St PESSM cn 4 MStP&SSM5s38g1d. M St P & SSM 68, M StP & SSM GIA-.. MK & T 1st4s.. Mo Kan&T438 18" M K & T prin b8 As MK & T ad) b8 Mo Pacific gen 43 $io Pdc 68 A 65.. Mo Fac 58 F17..... Mo Pacific 55 G '78. = @l e PR O oyl e mumtiuns LBonmoxd NOTex&M 4¢%s N Y Cen gen 3%s. 2 N Y Cent deb 6 N Y CentLS cl 3%!. NYChI&StL bl NYChi&StL 5%u B. NYC&StLEsA.. \lew Haven 3%8 56, cw Haven 48 5b... N YNH&H4% NY NH&H cv db 65 NY NH&H cit 6s... N Y Ont W 15t 48 NY Rys6s65. N Y State Ry 4%8.. NyStateRy 6%s 62. ¥ Sus & Wn 5837 o —— o b i PO A = L 1 Nor & 8 gen 58 (4. Nortnern Pacific 4s. Northern Pac 58 D. Northern Pac £ 16s Ore Short L rfsds.. Wash 15t 48,40, © en Pennsyl gold 7 Pa Ohio & Det 4% Peoria & E inc 48 portiand EI P L o ateRanfe~Sn ~ak » St L IM&S 41 2! StL IM&S gn badi. St L IM&S R&G 4s. StL&SFpl4sA. StL&SFre%sis. 1 StL&SFprinbs. St L Western 2d 4s. StL & Sown b8 '52,. Seab A L ref 4s.... SeabAL ad) 68 1949 Seab A L con 6s.... SBAllFla Sou Pac 4s 20 - o Boma® .~Bou Pacific rlL‘; e 1004 IOD‘A W 79 Low. Close. 103 103 104% 104% 9 99 7 105 964 95 lO\r' 841 9% Bw 40 Sou Pae 43 s reti Sou Ry gen V| Thira Averef 4s Third Ave adj Tol Tr L&P 6%s 3 Ulstr&Del 5 Union Pac 4 \\'lbllh 5% 75 tern Md 5% # wnurn Pacifio 5 1. 5. GRAIN EXPORTS DROP s SHOWN DURING WEEK By the Associated Press. Grain_exports and those of the 000; rye, 1,000, 346,000, against 310,000. before. 1977 8 sta 2,128,000 bushels, Sales. High. Low. Cloge 93% 9 944 844 107% 11% 118% " SR 85 102% 07 58% 56l 991y 68 2% 88l 94k 1024 0. - ~aRnass 905298 %0 =1 4n 1 1 50 last week from week before: Wheat, 471,000 bushels, against 590,- oats, 37,000; corn, 645,000, against 904,000; barley, 171,000, against against none; Canadian grain exported last week from United States ports amounted to as compared with 1,596,000 bushels the previous week, while last week's exports of North American wheat flour were 3£7,000 bar- rels, against 296,000 barrels the week the United States were 1,634,000 bushels, as compared with 1,841,000 bushels the previous week. Commerce Department figures today gave the following com- parisons between last week's exports WAGNER MADE PRESIDENT AT W,, B. & A. MEETING Special Dispatch to The Star. BALTIMORE, March 26. — Stock- holders of the Washington, Baltimore & Annapolis Electric Railroad met yesterday and re-elected directors, who, in turn, elected officers. The Consolidated Gas & Electric Co. of Baltimore recently acquired control of the road, and Herbert A. Wagner, president of the Consolidated, was chosen president. Charles M. Cohn, vice president of the Consolidated, was elected vice president; George Weems Williams, vice president and general counsel; Harry T. Connolly, vice presi- dent and general manager; Thomas P. Littlepage, vice president and secretary; William Schmidt, treasurer and as- sistant secretary, and Willlam M. Gar- rett, assistant secretary and assitant treasurer. All of the officers live in Baltimore with the exception of Mr. Littlepage, who lives in Washington. CHICAGO DAIRY MARKET. CHICAGO, March 26 (®).—Butter. Higher; receipts, 14,327 tubs; creamery, extrns, 46%; standards, 461 extra rsts, 451.a45%; firsts, 45a4574; sec- onds, 44ad4 . Eggs — Unchanged; 26,870 1try—Alive, fin receipts, ; receipts, 2 cai fowls, 30a33; Springs, 22a34; brollel 35a50; roosters, 23; turkeys, 20a3! ducks, 24a30; geese, 21. Lead Production Drops. NEW YORK, March 26 (#).—World production of lead is reported to have declined in February to 139,526 tons, compared with 156,155 tons in January. Domestic output was 43,063 tons, against 58,607. Special Dispatch to The Star. NEW YORK, money rates leaping 2 per cent at a clip | to 14 per cent, the highest level reached since July, 1920, and another general 1’ : of one-cighth of 1 per cent in the rates on prime bankers’ acceptances, the sixth advance of the year, carrying the price of bills to the lowest point since June, 1921, the credit strain, which has been daily growing more acute, reached a climax yesterday and precipitated the dragtic decline on the stock market. Call money renewed at 9 per cent, the level which had obtained at th close of last week, and moved rapi to 10 per cent. Shnrlly after 1 o'clock the rate jumped to 12, and later in the afternoon to 14 per cent. This is the first time in years that the demand | loan rate has skipped a point during a tradifig session. Hand of Reserve Board Seen. Banking circles ascribed the rise in the call rate to the withdrawal of funds by out-of-town lenders in response to increased demands for credit in the in- terfor. The disturbance which recently unsettled money conditions in Chicago was believed to have played a large part in the outflow of funds from this center, although several stories which were cur- rent in Wall Street, to the effect that a concerted effort on the part of money lenders in Chicago to recall funds lent in New York for use in Chicago were given little credence. While the immediate cause of the flurry in call rates was laid to interior calling of funds, the underlying factor was gnnvrally agrend to be Federal Re- pointed out that l()fl() I’“NT.AC powemd : ,NI?.W BU'GK powered Vi | fimons NAMES and WHATTHEY MEANINTRUCK OPERATION ALWAYS When you apply the word “modern” to a truck you’re actually discussing something that started with the first use of Pontiac and Buick engines in commercial vehicles., They did three big things in advancing Better Delivery (better truck transportation): Their flexible speed cut down dis- tances and time—increased work- capacity per day Their smooth power definitely length- ened the standard of service-life per truck 3 Their modern efficiencies lowered both maintenance and operating costs (repairs, gas, tires, oil, etc.) These results are available, these modern trucks are available in every range of Light-, Medium-, and Heavier-duty haulage. And where giant power is needed for ex- treme heavy duty there is the BIG BRUTE- Richmond Branch BROADWAY, "a ~—Miller-Hoover Motor Co. STAUNTO! MADISON, \ COVINGTO! PHOEBUS, Va.—H. M. » » » at our expense March 26.—With call| | WALL STREET FEARS HIGHER CALL MONEY RATE THIS WEEK with a rediscount rate of 5 per centy and a call money rate of 14 per cent banks are in a position to net 9 cent by the simple procedure of dis- counting at the Reserve and lending the proceeds on call. Yet in the face of this opportunity for handsome profits Incal member banks and, indeed, mem- bers throughout the system, are con-| sistently cutting down on their dis- counting, and for some time now the: larger New York City banks have boasted that they are completely out of debt to the Reserve. The end of the week will see a period) of credit. stringency, when corporations, who are now such large lenders in thei| demand loan market withdraw funds for the purpose of making quarterly dividend and interest disbursements. This withdrawal of funds will begin to | show tomorri and should grow acute on Thursday. The local member banks will then hold the call money market in the hollow of their hands, and should they decide to reverse the policy pur- sued over the year-end, at which time they replaced the funds taken out by from rising above 12 per cent, there is rio telling how high rates may go over the end of the week. Look to New York Banks. per cent money yesterday, but the ma- jority felt that the New York City banks would take steps to avoid anything re- sembling a demoralized condition in the local money market and that they would supply funds before the rate got to any- powered series—with equal efficiencies for that field. Three safeguards work for every General Motors Truck buyer; 1) STRAIGHT RATINGs 2) EXTRAVALUEinstead of “EXCESSALLOW- ANCES”’; 3) A real WORK TEST. It 1will pay any man, now, to see these trucks—to investigate these modern devel- opments in truck buying. (Time payments financed through Y. } A. C. plan, at lowest available rates.) We furnish any available GENERAL MOTORS TRUCK—model, body, or chassis that most nearly meets your exact requirements. We provide gasoline, and a man to accompany your driver. Put them at your regular work —for an adequate test. thing like that figure. T| water-front land, corporations and prevented the call rate | §; Some authorities were predicting 20| 3 * 15 FERRY LINE SALE. BALTIMORE, March 26 (Special).— Property and assets of the Baltimore- Eastern Shore Ferry Line, Inc., will be sold at auction on April 16. The sale will be conducted at the company's pier near Bay Shore. The property consists of 173 acres of including pier and landing bridge at Rock Hall, Kent County ; also concrete reinforced pier near Bay Shore Park, and right-of-way to the pler. The pler cost $170,000 to construct. Percy Willlams is receiver for the company, and . Arthur R. Padgett and John C. Kump, attorneys. DIVIDENDS. Pe- Pay- Rate.riod. abie. Stock of corp. Aero Sip Mfg Co Feelye pCinss AL L Ton e @ May fompton. Piin ‘Paper. Ltd. e Q Apr. 1 1 aper 5 Bickeve Pipe L 6o +50 & 3% 13 Do. e ¥1.00 Ext June 13 Cin_ Street’ Ry’ Q Apr. 1 Elec Shov Coal Go'pS1.00 @ May 1 Ad.....50c Q Apr. 13 Tndust'l Acceptance Corp 2d_ pfd. Do Ist pfd. .. Independ O} & G Nat'l Food Prod e 3 ABF. 30 Q May 15 5c @ June United Linen Sup cuin con class A.87'ac @ Apr. Do class B non-cim $1.50 Q Apr. 20 Federal Reserve Board at Washi it was said yesterday by those close to ths situation that the board, while deeply concerned with the present con- ditions, is determined to make no move calculated to injure business or work a hardship on any large portion of the come out of the recent meetings of the ington, While no definite announcement has public. A COMPLETE LEINE 42 TYPES cachof adifferent Straicar Ranine capacity LIGHT DUTY 1929 PONTIAC-powered (STRAIGHT RATING capacities: 3800 to 8000 Lbs.) Type 1001.... Type 2001.. Type 2002.. Type 2003. Type 2004. Type 2005. Type 2006. cessssssssanes$ 625 sessess 1015 . 1045 e MEDIUM AND HEAVIER-DUTY New BUIC K-poweled (STRAIGHT RATING capacities: 8,000 to 18,000 Ibs). Type 3001. ... . Type 3002.... Type 3003. Type 3004. sssasassane $1530 L e Type 4012.. T)pe 5010..... Type 5011 Type 5012 This real Work Test— cessnea 2800 «es 3265 HEAVIEST DUTY BIG BRUT E-powered Type 6001. Type 6002. (STRAIGHT RATING capacities: 28,000 1bs.) $4250 . 4350 Above prices, chassis only, F. O. B. Pontiac, Mich. S. 0. S. Call-—Franklin 505 TRANSPORTATION ENGINEERS R TRUCK SALES 17 0 pE TRUCK LEASES 11 (¢ rVICE TRUCK MAINTENANCE CONTROLLED BY YELLOW TRUCK AND COACH MFG. CO.A SUBSIDIARY OF GENERAL MOTORS Norfolk Branch 107 West Canal St. ‘Motor Sales Co. Carpenter. —-“rllht Motor Co. Teasler. 30-38 M St. CHARLOTTESVILLE, Va.—Carpenter Motor Co. WINCHESTER, NEWPORT NEWS, Va.—Sheffield Motor Truck Co. LYNCHBURG, Va.—J. W. Fretwell, ORANGE, Va.—Smith-Hood Elcar Co. —Eugene M. Garrett, Inc. N.E. 1611-13 Granby St. ROANOKE, Va.—Martin Bros. GLOUCESTER, Va.—T. W. Turner, SUFFOLK, Va.—Briggs Motor Co. FREDERICKSBURG, Va.—GMC Sal les and Service. ASHLAND, Va.—Ashland Hudson-Essex Co. SPECIALIZING IN COMMERCIAL TRANSPORTATION INVESTIGATLE “WHAT GENERAL. MOTORS_HAS BEFORE YOU BUY