Evening Star Newspaper, April 8, 1929, Page 12

12 FORD STOCKS LEAD. INCURB DEALINGS Few Issues Sell Higher—Util- ities and Copper Shares Lower. S ¥ BY HARRY H. BECKER. . Epeclal Dispatch to The Star. NEW YORK, April 8—Quiet trading and irregular price changes character- ized today's session on the Curb Ex- change. Except for renewed excitement in the Ford Motor of Canada shares, the session was one of the most unin- teresting this year. Business appeared to be entirely professional. Speculative interest converged largely on the Ford stocks, which advanced violently. The new voting B opened at 100 and after losing half of the 20- point gain over Saturday’s final level, climbed steadily well above the first fig- ure. It appeared that those traders who sold it when it was first listed, on the assumption that it was non-voting cer- tificates, were having a difficult time to cover because of the relatively small floating supply. The old certificates advanced well above $12 a share. The Test of the group was unaffected. ‘The advancing tendency, in fact, was confined to almost a handful of issues. Some success on the up side was ac- complished in Imperial Oil of Canada, Tri-Continental Corporation, Bendix and Wright Aero new, all selling at new high prices for the year. The gains were subsequently modified by profit-taking. Utilities, coppers, communication, merchandising and strictly industrial shares drifted lower, largely because speculative incentive was lacking. »The principal_selling was witnessed in the metal division and was influenced by bearish statistical reviews of the in- dustry and predictions that the ad- wvance in the price of copper had been definitely checked. Newmont lost furth- er ground, due to the depreciation in the market value of the copper secur- dtles it owns. While there were spurts of activity in the utility issues, no improvement in price was witnessed. International ‘Telephone, Electric Bond, the American Superpower issues and United Gas Im- provement fluctuated aimlessly, while American Foreign Power warrants lost several points. Similar fluctuations ruled in the aviation group and in the investment trusts like Goldman-Sachs and Transamerica. Among the spe- cialties Gold Seal Electric recovered a 3-point decline, but Grigsby-Grunow broke sharply and United States Freight also met persistent pressure. ‘With the exception of Humble, oils marked time. Some interest was revived in United Gas on the news that a 15- month drilling program by its operating subsidiaries in Refugio County, Tex., has increased the proved area of their holdings from 1,000 to 2,000 with addi- tions to underground gas reserves esti- mated at 40,000.000,000 cubic feet. It xf:ofi; has 31 producing gas wells in the eld. Baltimore Markets Special Dispatch to The Star. N BALTIMORE, Md., April 8.—Potatoes, white, 100 pounds, 75a1.15; new pota- toes, bushel, 1.25a2.00; yams, barrel, 2.00a3.25; sweet potatoes, barrel, 2.00a 3.50; asparagus, dozen, 2.00a6.00; beets, crate, 2.50a2.75; beans, bushel, 1.75a 3.50; cabbage, hamper, 50a1.25; carrots, bushel, 1.50a1.75; celery, crate, 1.50a 2.75; egg plant, crate, 2.00a3.50; kale, bushel, 30a50; lettuce, basket, 75a1.50; lima beans, bushel, 4.0024.75; onions, 100 pounds, 1.50a4.00; parsnips, basket, 25a35; peas, bushel, 2.50a3.50; peppers, crate, 2.00a3.50; radishes, bushel, 1.25a 1.50; squash, crate, 1.50a3.50; spinach, bushel, 40a50; tomatoes, crate, 1.00a4.50; turnips, basket, 25a35; apples, bushel, %75a2.00; grapefruit, box, 2.00a3.25; or- anges, box, 2.25a4.25; strawberries, quart, 15a40. Dairy Market. Butter—Good to fancy creamery, pound, 45a4712; pints, 48a50; blocks, 47a49; ladles, 35a39; store packed, 32a 33; dolls, 33a35; dairy prints, 33a34; process butter, 42a43. Poultry, alive—Spring chickens, pound, 52a55; young chickens, 42a48; thin and poor, 25228; old hens, 37a38; Leghorns, 35a36; ducks, 20230; guinea fowls, each, 50a1.10; pigeons, pair, 35 a40. Eggs—Receipts, 1,779 cases; native and nearby firsts, free cases, dozen, 26; current receipts, 20a22; duck eggs, 27. Live Stock Market. Cattle—Receipts, 300 head; fair sup- ply, market dull and draggy. Steers, choice, 13.25 to 13.75; good, 12.00 to 12.75; medium, 11.00 to 11.75; common, 9.00 to 10.25. Heifers, choice, 10.75 to 11.25; good, 10.00 to 10.50; medium, 9.00 to 9.75; common, 7.75 to 8.75. 9.75 to 10.! common to medium, , good to choice, 8.50 00; fair to good, 6.75 to 7.75; com- mon to medium, 4.00 to 5.75. Sheep and lambs—Receipts, 1,000 head; moderate supply, market steady; sheep, 3.00 to 8.50; lambs, 9.00 to 18.00. Hogs—Receipts, 4,200 head: fair sup- ply, market higher; lights, 12.25; heavies, 12,00 to 12.25; medium, 12.55; roughs, 7.50 to 10.50; light pigs, 10.00 to 10.50; pigs, 11.50; Western hogs, 10 to 15 high- er than quotations. Calves—Receipts, 500 head; light sup- ply, mlliket steady; calves, 5.00 to 15.50; extras, . Hay and Grain Prices. ‘Wheat—No. 2 red Winter, garlicky, spot, 1.27; April delivery, 1.27. Corn—No, 2 export, April delivery, no quotations; No. 2 yellow, domestic, spot, 1.08a1.09; cob corn, 5.25a5.50. Oats— No. 2 white, domestic, spot, No. 3 white, domestic, spot 56a57. Rye—Nearby, 1.10a1.15. Hay—Receipts, none. While hay is arriving here in limited quantities only, 1t is more than ample for the demand, which is being supplied mostly by truck from nearby points, & few carloads be- ing received. There is not enough busi- ness passing to establish prices on the various kinds on merit at a of 15.00216.00 per ton of timothy or clover h.ginw—No. 1 wheat, 12.00a12.50 per ton; No. 1 oat, 12.50213.00 per ton. Bpectal Dispatch to The Star. NEW YORK, April 8.—The report for the year 1928 of utilities power and light-and subsidiaries shows net income of $4,496,881 after interest, subsidiary preferred dividends, minority interest, depreciation, Federal taxes, etc., com- pared with $2,640,034 in 1927. Balance after paying $7 a share on erred .stock in 1928 amounted to $4.95 a share on the average number of Class A shares outstanding during the year. Balance after paying $2 a share on the Class A amounted to “$2.42 a share on the aves number of Class. B shares outstan during the year. LaClede Gas & Electric and con- trolled companies report profit for the ar 1928 of $1,350,129 after es, - interest, amortization, - sub- sidiary preternl:le ;flvldfindl and dnlm‘n& terest, but ore depreciation . with $1,451,673 Federal taxes, compared in 1927. iy # Diners at the Kansas City fellowship = and “NEW YORK CURB MARKET » Received faian, ‘Acol 22R] 5 W: §2es ot Alcs ¥+ Cyi o T A anam X anam A rts wi 10% L 8t 1st pid A 19 SEEkeE —— S BF N 858S! 1000 © s e im0 I 5 > 2 808,8288285530 8! ! R ERE S 2242 e Db B S s > Aviation Aviation Credit viation Corp 2, e 1 3 B SRE! hn-Hall Mt Colg_Paimol P. 1 Commonwith Ed 16 Cons Al Mer vic 6 Cons ~Auto Mer pid 22 8 Consol PHm 2¢ 32 Gonsol G B 1 Gonsol Instru 4 1 Laund . & Gont e kibie or R €. 1 Doehler Die €' C. 13 Douglas Alreraft 12 Fox Theaters 7 Freshman Chas C 1§ Gen Bak 1. 13 Grigsby Grunow 3 Ground Grip Shoe. 1Hall Printing. 1Hart Parr, Hart Parr 3 Haygart Corp. 5 Haygart Corp ris. 5 Hiram Walg G & Co N A 16 Ital Superpow A. 3 Johnson Mot. 15 Jonas & Naum -Brandes % = 22328 EPER EETESF by Private Wire Direct to The Star-Office & 1 2 2% el e ooy 2 .1 Woodiey Pet. STANDARD O! Sales™ pORMER BUBS 100 Buckese P L. 2700 Humble O & 39 Imp © Can ISSUES_AND IARIES—STOCKS. £ ] R . ] o5 EEE 9t 'S 2 ot oot B S AR R O A e, 8 i g e ol =) 23 L 1 H > e 4 I % 5 20! e £ S, 28! =33% ) seSsereressiiineeSoon O 22 2! = SRNRSEER 2 58838 29000 29882 2EE2EE0mnd SRS oE IR 2, 5228 FER R PEReR22988: Q) geoNyEagee 9 85 3 n Laun Ma 61 jen Rayon 6s_'48. 000! Gult Guli Hy 5 Memphis Nat G 6s '43 991, 1 Morris & Co Tlas 30 100 2 Narrag El Co 5s A 57 98 1Nat P & L 8s A 2026 163% Pub Bery 53 “78. 807, New Eng G&E b8 A 5 P . 1Solvay. £ ner 5s A ‘43 963 uthe P&L 65 A 2025 103 6s ‘42, ... 983 T R 3200 99 1Agri Mor Ba 7s '41. 2 Antwerp City 5s '58 nj xd—Ex-dividend. wi—When issued. n—New Ww—With warrants. | PROFITS IN COTTON 1Noma Elec 8 Nor Amer Aviation. 1North Am Utility 'm Ea 457 10liver P E pr pfd A100 ° 100 4 Qliver B E-conv part 6§ Southw Daity 3 Spanish & Gen rcts. 1Stand G&E pr prd xd 110 3 Stand Mot . 2Stein_Cosmdiics - 2 Sterling Sec Pl 1805 AR B via wiss 28yra W_Macl 33 g 1 22 55555, QOS5 a5z EEEECEECE 23835 RIS A £SR3 NS e e B B rs 3000 s D Qo 5 8L ISEEARE2285RSR.8 B P ok e | A2 aney! SRR RS SEnNangegsa R &Fs‘:‘.gg % £ 5 4o gaacdacc 58 uB unn qanuasees S e ordinary | ga w and laymen | HINGE ON ACREAGE iiiica BY J. C. ROYLE., Special Dispatch to The Star. NEW YORK, April 8.—~The cotton 46" | growers of the United States, whether they know it or not, are now flipping a coin to determine whether they will make $350,000,000 or lose that amount. The brightest minds in the cotton in-} dustry say the answer lies in the hands of the planters themselves. The way they settle it will affect the price of . | every cotton garment worn in this country, as well as all the cotton yard- age used for industrial purposes. According to the experts, it is all question of acreage. If the planters hold the acreage planted to last year's total or below it, they have an excellent chance to obtain a price ranging from 20 to 25 cents a pound for their raw staple. That means profit to the cot- ton districts. This prediction comes as the result of an exhaustive study of supply and requirements. There is every probability that the carry-over at the end of the 1928-29 crop year on July 31 will be 1,000.000 |2, % | bales under the average. Consumption is now proceeding on a basis which leads statisticlans to believe that the season’s total will be about 15,500,000 bales of lint cotton. This indicates the absolute necessity of a crop which will approximate 15,500,000 bales to supply the demand of the spinners of the world and at the same time avoid the necessity of reducing surplus stocks 742 | below the danger line. = SRR 4 73 1 Practically all the statisticians agree that the stocks of American cotton at 15 | the end of the season, before the new = ol 8246 3 1 14 78 2 FESER 108% 134, 16% A ¥ % 3 i crop is available, will approximate 4,000,000 bales of 500 pounds each. Lighting the Airport. ‘The dangerous possibilifies of fog at airport landing place is reported to have been success! overcome by a new system of lighting recently in- stalled experimentally at the munici- airport at Cleveland. Incorporated the design of this multi-light unit are several principles of lighting, each a distinct aid to night pilots. It pro- vides a fan of light which, when ro- tated, reaches the pilot at any angle at which he may approach the fleld. One-half of this fan of light is white and the other half red. The rotation produces alternate red and white flash- es which instantly attract the pilot's g s | Spring chickens. * | vegetables, PRICE OF POULIRY ‘Farm Buying Power Bpecial Dispatch to The Btar. 15 ADVANCED HERE 2 Demand for Early Spring Chickens Reported Good at D. C. Market. With unusually scant stock on hand, i | prices of poultry were quoted on the 3 | wholesale market today at figures sub- stantially above thase the . greater part of it week. demand is generally for all grades of poultry, particularly fowls and early revalent d s Meat _wHolesalers ' report they are buying in slightly higher markets, but little change was shown in prices to- day, and supplies are plentiful, with |} retailers making only cautious pur-!1 chases for immediate needs. Eggs are coming in fast and the |” fiudgeg is_fairly brisk in this quarter. Prices remain on levels with those quoted last week. Today's Wholesale Prices—Poultry Shows Increase. Butter—One-pound prints, 45%a46; tub, 45a45%; store packed, 28a30. Eggs—Hennery, 29a30; fresh selected, 28a29; current receipts, 26. Poultry, alive—Turkeys, 35a38; Win- ter chickens, 40a42; Spring chickens, 52a55; fowls, 34a35; Leghorns, 32a33; i | roosters, 22; ducks, 25; geese, 20; keats, young, 60a70; old, 35a40. Dressed— ‘Turkeys, 40a45; Winter chickens, 40a4! s | Spring chickens, 55a60; fowls, 36a3’ Leghorns, 35; capons, large, 50a5: small, 45a46; ducks, 32a33; geese, 20a25; keats, 80al.00. Meats, fresh killed—Beef, 20a23; lamb, 30a33; veal, 22a27; pork loins, 30; fresh hams, 26; fresh shouldere, 21 smoked hams, 28; smoked shoulders, 1 bacon, 22; lard, in bulk, 13%al4; pack- ages, 141¢al5; compound lard, 1274a13. Live stock—Calves, 17; Spring lambs, 23a25. Fruit and Vegetable Review. The daily market report on fruits and compiled by the Market News Service Bureau of Agricultural Economics, says: Apples—Supplies light; demand light, market steady; barrels, no sales report- ed; boxes, Washington, medium to large size, extra fancy Winesaps, 3.00a 3.25; bushel baskets, Virginia, U. S. No. 1, 2% inches up, Staymans, fine " quality and condition, wrapped, 2.50; U. S. No. 1, Winesaps, 2.00a2.25. ‘Asparagus—Supplies limited; demand moderate, market firm; South Carolina, dozen-bunch crates, green, very large size’, 5.00a5.50; large size, 4.00a4.50; me- 3.50a4.00; partly white, very large size, 4.00a4.50; large size, 3.00a 3.50; medium size, 2.50. Cabbage—Supplies moderate; demand light, market steady; South Carolin: 11;-bushel hampers,” pointed type, fair quality, some smell size, best, mostly 1.25; poorer low as 1.00; barrel crates, pointed type, ordinary quality, small size, 1.50a1.75. Celery—Supplies moderate; demand light, market steady; Florida, 10-inch crates, individually washed and pre- cooled, 4-6 dozen, 2.50a2.75. Lettuce — Supplies _light; demand light, market steady; California, crates, : | Iceberg type, 4-5 dozen, 4.00a4.50; Ari- zona, crates, Iceberg type, 4-5 doz.. 4.50a5.00; South Carolina, 1;-bushel hampers, Big Boston type, 1.50a2.00. Onions — Supplies light; demand light, market steady: old stock, Ohio, 100-pound sacks Yellows, U. S. No. 1, 4.00; some sprouted, 3.00a3.50; badly sprouted low as 1.00; new stock, Texas, standard crates Yellow Bermudas, mixed, No. 1 and No. 2, 2.75a3.00. Potatoes—Supplies of old stock mod. erate; demand light, market steady; New York, 150-pound sacks round whites, U. S. No. 1, mostly 2.00; Mich- igan, 150-pound sacks Russet Rurals, U. 8. No. 1, 2.00a2.10; new stock, sup- plies light; demand light, market steady; Florida, double-head _barrels Spaulding Rose, U. S. No. 1, 6.50. Spinach—Supplies light; demand light, market dull; Texas, bushel bas- kets, Savoy type, 75a85. Strawberries—Supplies very light; de- mand moderate, market slightly stronger; Florida, pony refrigeration, various varieties, 45c; few fair condi- tion lower. Tomatoes—Supplies _light; demand light, market steady; Florida 6s, Cotion, egn wheat, corn, oats and hogs were the ost important items in the weakening of the agricultural 'goods index. The declines in both corn and wheat were heavy, ufechlly the former. Index numbers of agricultural and non-agricultural prices for various peri- ods are-given in the following table, with the index of farm purchasing power, - which is their quotient. For each the 100: feul- Non- Ty purcha ural . cult »o ri K ended—i ey 3223 S8: i tSua 55005555, SS282, St SR sasszsszss 8 = Sosunkam 951 96 96. 95. 9! 9. 96 90 95. 94, 100. 0 4 5 8 0 8 & by Irving Fisher.) o 'WHEAT PRICES GAIN IN EARLY TRADING Market Is Buoyant on Reports of Farm Relief. Plans, 8 By the Assoclated Press. CHICAGO, April 8.—Grain prices took a decided ypward swing today after a wavering start. Buying was associated largely with current reports that broad plans of farm relief legis- lation were taking definite shape rap- idly. Opening at 3 decline to ' rise, wheat later scored a sharp general ad- vance. Corn, oats and provisions also were firmer, with corn starting Ya off to 1, up and subsequently showing gains all around. Higher prices attained today in the wheat market here were in the face of lower quotations at Liverpool. and de- spite favorable weather conditions throughout domestic wheat territory. Bearish factors, however, were of suffi- clent influence to cause Chicago wheat values to average lower in the early dealings. ‘Then the attention of traders ppeared to focus on Washington ad- vices that House and Senate committees were planning to provide more than $300,000,000 revolving fund for opera- tions of a Federal farm board with sweeping authority to work out its own problems. It also was asserted the pro- posed legislation would permit the pur- chase and storage of grain in any quan- tity required In the judgment of a farm relief board to be established. Revorts of a widespread cold wave in_ Europe tended also to lift wheat prices today. According to dispatches at hand, the hills of Central France were covered with snow and streams again were frozen over. The amount of wheat on ocean passage, although less than last week, was still consid- erably in excess of the total a year ago. COTTON IS STEADY IN OPENING SALES Market Rallies After Early Period of Liquidation—Cables Dis- appointing. By the Assoclated Press. NEW YORK, April 2—Cotton opened steady today at a decline of 7 to 13 points, with active months selling at about 12 to 14 points below Saturday's closing quotations during the first few minutes under liquidation, combined with some local and commission house selling. This seemed to be inspired by the indifferent showing of Liver- pool and a favorable view of the early weather map, as rains reported in- the Southwest were considered more bene- ficial than otherwise. July eased off to 19.76 and December to 19.72, but there was trade buying of near months at the decline, The mar- ' | ket was quiet at the end of the first mand light, market about steady; Flor- ida, 7g-bushel hampers, green, 2.50a 3.00; few' fancy stringless, 3.50; poor to ordinary quality and condition, 1.00 a2.00; very few sales higher. Peppers—sSupplies moderate; demand light, market steady; Florida pepper °’5‘<;“' fancy, 3.00a3.50; choice, 2.25a Eggplant—Supplies light; demand light, market steady; Florida pepper cr;om, fancy, 3.00a3.50; choice, 2.25a Peas—Supplies light; demand light, market steady; South Carolina, bushel hampers, Laxtons, 2.50a2.75; mostly 2.50; some short pods, 2.00a2.25; pod varieties mostly around 2. fornia, 45-pound crates, 7.00a7.25. Beets—Supplies light; demand mod- erate, market about steady; Texas, Western lettuce, crates, bunched, 2.75, Carrots—Supplies _limites demand light, market steady; Texas, bushel baskets, bunched, 1.75a2.00, few higher. Cauliflower—No sales reported. Cucumbers—Supplies light; demand light, market dull; Florida, 7s-bushel hampers, fancy, 3.00a3.50; fair quality low as 2.50. -~ Squash—Supplies moderate; demand moderate, market steady; Florida, pep- per crates, white, wrapped, 3.00a3.50. Oranges—Supplies moderate; demand moderate, market steady; Florida, boxes, No. 1, medium to large size, 3.5023.75; small size, 2.7523.25; No. 2 medium to large size, 3.00a3.25. Grapefruit—Supplies light; demand light, market dull; Florida, boxes, No. 1, medium size, Russets, 3.00; choice, brights, 2.75. Money and Prices Special Dispatch to The Star. NEW HAVEN, Conn., April 8—As to|the furor of alleged credit inflation in mark airways. The up] . mlleet & less intense pl:elm of light at er angles, are standard, narrow beam, floodlight projectors. 239 Salmon’s Jumping Record. ‘The salmom, like some other mem- bers of the fish family, returns to the stream of its birth to spawn, after which they die. The salmon often meets almost unsurmountable obstacles the spawning h waterfalls may inter- ey ave.. boo ive n vertical leaps of 5 or uncommon, al- b’W!_llt any backed up by a 't snap- itient led in salmon the Wil- the stock market continues, signs of a possible danger of general deflation are not lacking. Last week’s decline in com- modity price levels was insufficlent to cause concern of itself, but was broad enough to raise a question as to whether a downward price trend is appearing. Interest rates on money continue strong: The relatively low Federal Re- serve rediscount rate might contribute to a situation in which gold exports from glt:h:o ?nnlted States would";b; bnl:e enou crease stringency T price declines amounting to Mlflnn'. with attendant injury to business an employment. Any contraction in United States exports resulting from the con- templated tariff revision would tend tp increase gold exports. High commercial and call loan inter- est rates in the United States may, on ther hand, attract sufficient gol from Europe to cause ‘defla iils there. It is the achievement of stabil- ity as between these two dangers with :uh:‘chlme Federal Reserve system has eal. (Copyright, 1029, by Irving Pisher.) Heads A. T. & T. Stockholders. NEW YORK, April 8 () —Sun Life Ass Co. of with 80497 Telephone company’s leading 20 in & Co., & list of the F. Baker, New York banker, with 63, shares. Holdihgs of both showed con-, half hour, with prices showing rallies of 4 or 5 points on covering. Private cables reported liquidation and hedging in Liverpool and com- plained of a continued small turnover in cotton cloths and yarns. Sugar. NEW ORLEANS, April 8.—Importa- tions of raw sugar for refining purposes from January 1 to April 1 totaled 1,- 626,033 bags, which compares with 1,- 050,095 last year. All but about 100,000 bags came from Cuba. The Alabama sugar refiners are importing foreign raws despite the fact they raise a goodly amount on own plantations. ‘Wool. BOSTON.—Some half-blood Territory ‘wools have sold at $1.05, clean. Three- hts blood is easier around 98 cents. sales, when offered, and dealers are hanging on to T 2 months’ at present price Steel. CHICAGO.—The cost of making pig iron in the Chicago district has ad- vanced nearly $1 a ton during the past few weeks, but as yet there has been no local price advance. This leads to be- lief that prices are as low as they will be for some time, and accounts for the heavy buying being done at present levels. Live Stock. FORT WORTH.—West Texas lambs are being contracted for at 11l cents r pound, the season’s record. Mutton E\nhl are being contracted for at 11 cents per pound, with delivery specified for late Summer or early Fall. We Will Lend You Money In Any Amount At 51/2% Tnterdst For Periods of l.Sor‘I! Years Nearby Mevyland, Vir and m’-mmm of Cch“::la ' Apartments, Residences nr’“l‘uluuhqmi- BOSSEMELPS Founded 1907 1417 K St. Main 9300 Loan Com;r-lm John Hancock Mutual Life Ingurance Co. average for 1926 represents | ojing; BY KENNETH S. VAN STRUM. day " altdey. the apeming stock prices 0] olyhn week’ nmrlmlpe severe recessions from the close of the previous Thursday. Sin.: no ularly unfavorable de- velopment occurred over the week end. the drop in prices may be taken to indicate the temper of the specu- lative wmmunltthy. at prew:te.r LA, e B Sifuation im Is'a decided mnd'.h':'l ‘the part of m‘"&&'}-"" on of their financial posf is rwommmg:u these ve! inion of . majorit; of the market has sel Has rect. in the past. changed today? , More Intelligent Trading. * In several important essentials it seems to have. In the first place, the average trader today is unquestionably better informed about security markets than he has ever been before. Bankers, brokers, statistical services, news serv- Sl expanding. e ehoris 1o help - expant disseminate and ‘nterpret financial in- formation." & ~In - addition, a most. important fact stock prices | Gener: ofl ?lter the producers announced :&;’gflon of continuing their curtail- program anyway, the oil stocks much of the fl:l:ly they had y 1$61,529,748, an increase AUTO EXPORT REGORD IS MADE IN FEBRUARY By the Associated Press. A new high record was set in Febru- ary by the export of motive Department at of $13,936,000 over like exports in January and $24.- 972,022, or 68 per cent more than for Pebruary last year. oo o e PR STl was se T, with a total of $50, 731,000. Shipments of er cars were greater during Fel ,622 units than in January, and truck shipments e January by 6,771 units. Argentina was the hase! of American automobiles, and Australia next. The world demand is centering now on cheaper models of :m m;’:;g-ge v:l&e of American nes durin; February was $676. i . Calumet & Hecla Report. BOSTON, April 8 (Special).—Calu- met & Hecla’'s conglomerate tailings being retreated in two reclamation the | Piants have yielded 217,268,000 pounds Oakland Qutput Gains. NEW YORK, April 8 (#).—Oakland Motar: Car Co., like & number of other is that stocks are now: being carried on | automobile manufacturers, set a new CURs DETROIT PITTSBURGH CLEVELAND PHILADELPHIA BALTIMORE _BOSTON ST. LouIs CHICAGO CINCINNATI SAN FRANCISCO a much wider margin than ever before. Formerly one man would carry 300 shares of stock on a 10-point margin. ‘Today it is more likely that those 300 shares are being carried by three men each with 100 shares on a 30-point margin. The average trader of today not " only carries wider margins so that he will not be so readily forced but he is much to hold stock for the long pull. ‘As a result, the market becomes very dull whenever prices decline slightly and remains dull until buying power enters the market to send prices back to approximately the old highs. ‘The wearing process continues, the market rises slightly, declines slightly and rises nlglln. until many traders become sorely tried. ~ But patience is one of the essentials of successful trading and investing. The success with which a trader keeps the profits the may already have gained on his securities nds upon his ability to keep himself in an impregnable finan- cial position in such periods of uncer- fainty as we are now experiencing. Last week's total volume of trading was decidedly below that of the week before and regardless of whether stocks were rising or falling, the trading never acquired the aggressiveness necessary [Fn] T wea T 7 to produce a Many pools, having failed to attract a wide following as the price of their stocks rose, have apparently become discouraged, for the lack of support be- hind many recently popular speculative issues is very apparent. Favorable and Unfavorable News. ‘The news of the week was both fa- vorable and unfavorable. Some items one would naturally interpret as bullish indications, as, for instance, that pig iron production was close to a recora peak, which is taken universally to mean that there was a high degree of business activity. This favorable indi- cation was strengthened by the report of a record volume of automobiles man- ufactured in March, by a decline in crude ofl production and by the drop —————— sustained movement. Desert His Wife’s Dower Rights A man deserted his wife and died in a distant city, two years later. When his_identity be- came known, an investigation disclosed that he had operated extensively in real estate, buy- ing and selling in his own name property worth hun- dreds of thousands of dollars. For obvious reasons he had eon title each time as a “single man,” thus clouding _‘o;c.ll 'lliltle with a dower elhi e through counsel s itly pressed her dower sequent elaims, and the numerous owners sustained losses of thousands of dollars. Whenever you buy or lend om real e, a New York Title always your best policys Capitol Title & Guarantee Company | 1425 Eye St. N.W. Representing New York TITLE AND MORTGAGE CoMPaNY, Capital Funds over $60,000,000 h production record last month with ipments -nf 36,400 cars, against 29,477 in June, 1928, % of refined copped. The deposits origi- nally contained 40,000,000 ptz:ls olfll!e‘- covered sand—30,000,000 in the Caulmet deposit and 10,000,000 in the Tamarack. Up to 1929, 2,779,000 tons had been retreated, yielding 10.46 pounds of cop- per & ton. In 1928 the average cost of this copper was 5.95 cents a pound. Ap- proximately 19,221,000 tons of conglom- erate sand remain to be treated. Patent leather shoes are no in warm Colombia. fytatt Underwood Elliott Fisher Company We have available copies of an analysis of this company, prepared by Messrs. Dominick & Dominick, one of our New York Correspond- ents. Upon request we will be glad to send you a copy. a2 STEIN BROS. & BOYCE Established 1853 Woodward Building WASHINGTON, D. C. Main Office: BALTIMORE, MD. Members New York, Baltimore and Washington ( Stock Exchanges Associate Members New York Curb Market When particular form of investment continues se century efter cemtury, it must be both sound cipal and safe in practice. fty-Six. ¥ ears of Investment published 1929 by The —From Servi F. H. Smith Company- 'HE F. H. Smith Com- pany’s investment booklets are read by thousands of investors throughout the world. Let us send you our latest—"Fifty-Six Years of Investment Service.” It tells in clear, simple language about Real Estate First Mortgage Bonds (now paying 6/2%) and other types of securities. . Just tell us on the coupon where to send your copy. THE F. H.SMITH CO. Investment Securities—Founded 1873 Smith Building Washington, D. C. (815 - 15th Street, N.W. — Main 6460) Branck Offices in— New York —and Other Cities Your Obangs With swishing of silk, and many deep bows, the Japanese gave each other many presents. In courtier and humble peasant alike, the idea was ingrained that good-will and friend- ship must be fittingly expressed. So their gifts were not useless trinkets. Fine gold coins, apiece—“Obangs,” worth about $17 ‘they were called —were the most valued gifts a Jap- anese could receive, for they could be used. There’s an “obang” for you in sav- ings investment. The regular inter. est payment you receive, without effort on: your part,-is the best kind of present you could give yourself. Our First Mortgage Notes have given thousands of wise investors regular 6% interest payments through good times and bad, due to the conservative policy which en- abled us to make our record: SIXTY YEARS WITHOUT LOSS TO AN INVESTOR! ~ SWARTZELL, RHEEM & HENSEY CO ' MORTGAGE BANKERS \111 15 STREET N.W. WASHINGTON D.C.