Evening Star Newspaper, April 7, 1929, Page 37

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J. __RALEIGH, N.C._ Get This FREE BOOK IF you are going South—or even just thinking about it—you'll want to read about Raleigh, the Capital of the Good Roads State. This {llustrated book will give {ou helpful information about this interesting North Carolina City. Raleigh is one of the main nu:gs on Interstate Highway No. 1, the Capital to Capital Rogyte from Maine to Miami, a city rich n Southern charm and hospitality. You don’t want to miss Raleigh. ‘Write for booklet today. It's free! Raleigh Chamber of Commerce, Room 4, Capital Club Building, Raleigh, North Carolina. RALEIGH ITE for the free, author- itative booklet: “The Log of the Motorist through The Valley of Virginia and The Shenandoah.” Complete maps. road guides and information tell how best to motor through Vir ginia's famous valley resort sec- tion and mountain empire. Make Roanpke your objective: where you will enjoy fine modern ho- tels and three golf courses. A chance for business exeeutives 1o see & Divotal city of the new industrial South. For this invaluable free Book- let, write—or mail this ad "3 e Directors Vote to Admit Real Estate Mortgage & Guar- anty Securities. By Edward C. Stone. At g meeting of the board of govern- ors of the Washington Stock Bxchange rday it was voted to admit g“{:fl outstanding 68,530 shares. The remainder of the issue will be listed National Bank, cer- tifies it has been Thorisa. 1. send 5 : sen out. notices to the '+ ' Maminston. members of the exchange when the ad- ditional shares are listed at some later date. The governing committee voted to begin trading in the new listing next Wednesday. It was the first stock add- ed to the exchange issues in several months. ty Corporation was organized in July, 1923, and maintains offices on Jackson Place. The officers are L. E. Breu- ninger, president; R. N. Neuhauser, vice president; Thomas Somerville, vice president; Maj. Gen. Anton Stephan, treasurer; and W. F. Stickle, secretary. ‘The stock was originally offered in units of 100 shares preferred and 70 shares of common at $1,250 per unit. ‘The common stock pays no dividend, but the preferred has par value of $10 per share and carries a dividend of 8 T cent. will be of particular interest, as it will indicate present trading levels in a local stock that is widely held. Harrington Back From Florida. J. William Harrington, che of the best known brokers in Washington, has returned to the financidl adistrict after an illness which kept him away from business throughout the Winter. Several months ago he suffered an at- tack of pneumonia which left him in {such a weakened condition that it re- quired several months before he re- gained sufficient strength to dare take a trip to Florida for a further rest. He returned from St. Petersburg a few days ago and is now able to spend a_short time each day at the office. RESORTS. Yellowstone Grang Canyon Alaska—Utah—Colorido - Rocky Mountain California 4 . See the Na- $ and tional Parks l‘z!-’- 4P| and Best of . from Chicago the West in the easiest and most economical way by joining eneofour escorted, all-expensetours. TourstoFit AnyVacation Period—11to 22 Days Lo oy Mot Tran = m Youpay for everythi The Real Estate Mortgage & Guaran- | The first sale on the local | had a descri) of conversation he would to earry on when presenting the ci and ask- ing for the cash. Chairman have been banks for their recent effective service, ‘The success they have recently had was due to the local system moving quickly and without the help of the Bankers' Association which carries on work along similar lines. The credit belongs entirely at home. Trading on Exchange Quiet. Prices on the Washington Stock Ex- change wound up the week about where they started. Duri yesterday's session ‘Washington Gas ht sold to the extent of 13 shares at 111, Distriet National Bank stock came out at 236 for 10 shares, while 10 shares of Real %flhu Title & Insurance Co. sold at Twenty shares of Barber & Ross common sold at 20, same as the last previous sale. Two shares of Lanston Monotype came out at 126%. The largest stock sale of the day was in Woodward & Lothrop .preferred, 850 shares selling at 110, mfugflu being unem'ngzd from the previous After call, two shares of Potomac Electric Power 5% sold at 107'5. Capital Traction closed the week with 5 and 8 share lots selling at 99. the same as Friday's closing quotation. In the bond division there were three $500 sales in Washington Gas 6s, at 103',. Transactions -of §1, $2,000 in Washington R:fl'ly tion first 5s selling at 993%. Securities in the unumd‘::rmt were given their weekly cl ing, the approach of the coming American League base ball season being reflected Finaneial District Notes, William D. Hoover, president of the National Savings & Trust - Co., Frank Stetson, the trust officer, are passing the week end at Virginia Beach. ke, X2 ave mempers of thas very links as are members nization known Leng Island, will be even larger than 2 year ago. 3 ————e. COTTON CLOSES LOWER. NEW YORK,,April 6 () .—Cotton mflm&:wflt-wumoflz to 13 points under selling. promoted continued easiness in Liverpol and reports of favorable weather in the October, 19.79-80. January, 19.85-86. 20.56. Germans Travel in Diners, With the abolishment of fourth-class travel on railways in Germany, and the increasing popularity of second and third class accommodations, have found & new way of making trips in comfort. They ride in the dining Somm ey, Buire_as developed o ining vel 3 mclu: travel. Rather than ride in crowded second or third class compart- ments, ers, purchase third-class comfortable and have smoking and mnon-smoking salons. Purchase of a-sandwich or & drink at & moderate price entities one Moran and his assoclates rtily congratulated by the | pem | coun! this b’llnh securities for the Iators in the stoel its greatest numerical strepgth. Higher or Lower Rate. Naturally the more cash the brokers need the higher the rate they will have to pay for it. Cash is needed for every transaction on the Stock Exchange and call money is the cash required for the day. Such loans are repayable on de- mand before the close of banking hours committ 7 Setting the Stage for a Busy Monday at Kaufn’s All-St & nusfl“s tee. in New York City, with great reserves in their own vaults and with large orders from banks , anxious to lend their surplus, meet demands of brokers carrying t army of specu- % s ist, now at shout call loan rate is given out the around 10:40 o'clock. Renewal rat i Some Manipulation. There aggressively, lgpindoiy panic in the market somelhing of & ings, have so much ket. legitimate now. Most of them made much money on the loi markets and they are popular. pool managers to be used as the latter Every Offering a Headliner! made on the supply and demand basis. bre are instances where supply and demand play & secondary part to manipulation—not many, but the call hle sace gréat industral comporacion makes lmnl‘,“t.clh its l;wnm:g makes new call loans and then /calls creating and recoups holdings at lower levils, reating b, ad b, Bo-called investment trusts do the same thing oeculmuu{. Some of the largest of these, after liquidating hold- cash on hand that they are factors in the call loan mar- These trusts are looked upon as have bull the olden days they were not given this recognition—combinations of capitol put up by many people into the hands of =0 ne e Fiied on sl i Dommd - Basis, but Manipulation Sometimes ‘pliys’ Part. R HidIEy tH geg here were made at 5, 52 ‘and 6 per cent, but they have been marked up to per cent with time money and oc- casionally the local rate has been in- creased to 61, and 7 per cent, Bankers also pick their collateral and insist on the compensating balan The Collateral Security. New York bankers in making call loans for their out-of-town customers mail the list of collateral back of the loan, held by them, to their corres- pondents the scme day the loan is made. In the case of renewal from dav to day the Jist remains the same unless the broker borrowing desires to substitute some other security, w] something equally acceptable is in place of the withdrawn collateral— something acceptable to the New York bankers and al an acceptable margin of safety. ‘There is a difference of opinion among bankers as to the action of the Federal Reserve Board in its insistence on the les sening of speculative activity. that speculation should be allowed to run its course—that it can no more be controlled than the prices for rubber, sugar and other commodities by edict. The Federal Reserve system has two purposes, to maintain a fair rate for commercial borrowers and to help financing operation of the Gov By far the majority believe | ing | | ] i P | AIL] g : H I it j ! | f i ? §'§’§§§:~ §: g g e T i = ® i fegE 5 ‘ g | Baltimore Markets l | Bpecial Dispateh to The Star. BALTIMORE, Md.,"April 6—Receipts | of live poultry have been running gen- erally light all the week and, as a re- sult, with a -good demand prevailing prices on lines with the exception of cucks, guinea fowl, old roosters and pigeons und. Spring chickens are in very ht receipt and clean up readily at 52 to 55 cents a pound while young chickens 1% pounds and over bring 42 to 48, but all poor thin stock, which is in ample receipt. will not bring over 25 to 28, Old hens in very good de- mand and bring 35 to 38, but xhl?- ments of stock weighing under 3%, pound not advisable, as it is ‘more a GQuestion of a buyer than price on this of poultry. OIld roosters are hold- teady at 18 to 20 and ducks are 20 to 30. Guinea fowl and Difeonl are in good demand at 50 to 1.10 each for the former and 35 to 40 a pair for the latter. Egg Prices. i H i § g i g g E ] fa58 g, o it §§§§ i : i H %555 g5 o . Eahe L 2 b o By . s 100 rhubarb, i i ! i : E E:§ § favor at the following 07 | 30 to 50 bushel: onfons, 1.50 poindg; arsion, : 3 15 5 § i i g § | % § g g i il Es38 Bgannt] t 8, - i i gibeg o i i re g5 quotal - 3 25 to pes BB g v 10; bulls, as to quality, 7 to 9. Cows, choice to fancy, 7 to 9; common to fair, 4 to-6. Oxen, as to gu Calves, veal. choice. 1512 , rough, 9 to ality, 6 to 8. to 16; la 11; . Lambs, choice, 15 to 16; fair to good, 12 to 14; common, thin, 8 to 10. Spring lambs, 40 to 45 pouns Hogs, straight, 101, to to 20. ds, 18 11%. Sows, 8 to 9. - Live pigs, 10 to 14. Shoats, 10 to 12. Receipts of native and nearby eg: have been running fairly liberal Appointments for the Home—at These Matchless Low Prices—and on OUR LIBERAL CREDIT TERMS That Make the Paying Such an Easy Matter? Candlesticks | 25¢ Pair Add ‘a refreshing || touch of grace and novelty wherever used. This $249 Beautiful 3 Luxuriously comfortable—and with, the rich, refined appearance that be- speaks good taste. Settee with three resilient spring cushions and fireside chair and armchair to match, Covered with genuine mohair, the reverse side of cushions covered 18 MONTHS TO PAY caring for the ual ;‘:’lf-re dul fl;e m’-'a;nu in 'hhm!- vers and university colleges parts of South ica. Boudoir Lamp, 79¢ A’ charming and practical lamp with glazed pottery base and pret | o ty shade. Living Room Suite _Piece Mohair Afri ar Values in Character Furniture What Better Investment Than These Fine your address to: Commerce, Room 1! ROANOKE, VA, with 5-color Jacquard velour. : : Hand-polished mahogany: finished frames. Why not save $85 on a suite of real quality? 18 Months to Pay 5149 X : R R T [T LT HILL ] i S WSS A A AN TS 1l DB RN ey P H AL AL AL ddd Virginia Beach, Virginia D R MRS. A. B. WILLIAMS Ownership Management WHITE SULPHUR SPRINGS, W, VA. 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