Evening Star Newspaper, April 19, 1929, Page 15

JAMES Y, PENNEBAKER Main 5328 1520 K St. N.W, First Mortgages 7 Safe—Conservative 42 Years’ Experience in finanecins homes and In the sale of these se~ curitles. Make your savings and surplus funds work for you at the highest-inter- st rate consistent with absciute satety. Wm. H. Saunders Co., Inc. REALTORS Main 1016 & 1433 K Money to Loan Becured by first deed of trust on Prerailing interest and cs Joeph Y ller ’i'- We Recommend— Spencer Trask Fund at the market Irving & Johnston Woodward Bldg. £ Main 8973 _ Correspondents Members of Spencer Wash. Stock Ezxchange Trask & Co. DON'T you liketoturn over your ideas for a folder or booklet or other piece of Direct Advertising to an or= ganization which graspsthem quickly and thoroughly without a lot of explaining and directing from you? Y Never Disggooins™ BYRONS. ADAMS Printing * Advertising == TION on the INCREASE ‘The men of this.eoun- try are finding out that the ptrpose of their wills can be best carried out when entrusted to ex- perienced hands. You have perhaps been & customer of this Bank —as you look back, how's the service you've been getting? We will continue to serve your family through our Trust Department after you've gone, if you wish it. Consult our Trust Department Our Trust Department is at your service LIBERTY & NATIONAL BANK Fifteenth and Eye Sts. r———[o|c-—0] Continental Trust Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Checques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts o] e=———=a|c——-|6]l—=0)] r | Potomac Electric 6% pfd. BONDS HOLD FIRM DESPITE BAD NEWS Collapse of Paris Ropafatlons Parley Has Little Effect on Market. BY CHARLES F. SPEARE. Special Dispateh to The Star. NEW YORK, April 19—The collapse of the negotiations in Paris between the allies and Germany over reparations had less effect on foreign dollar obligations today than might have been expected. Losses were confined to frctions and limited to. the German group and to issues of some of the lower eredit coun- rope. Not all of the German issues were affected. While the government 7s de- clined 1 and fractional losses occurred in the Central Bank for Agricuiture 6s and in a few of the German municipals id German public utilities, bonds like General Electric iemens Halske were firm. It is obvious that there can be no further borrowing by Germany so long as the impasse that has developed remains unbroken. ‘The same condition will .also affect the ability of other European nations and corporations to borrow. This was reflected in lower -prices for such issues as those of Bulgaria, Hungary, Serbia and Poland. Domestic List Strong. _ ‘The domestic list continued strong, The 5 per cent rallroad issues worked up into higher ground and some of the 4s and 4'¢s made further advances. Buying was of the same character noted on previous days this week. The in- clusion in the New York savings bank legal list of a large number of railroad bonds under the recent act has broaden- ed demand, for it gives the favored in- | stitutions an opportunity to buy railroad securities on a better basis than for a long while. This new list includes such popular bonds as Rock Island general mortgage 4s and refunding 55 as well as the Arkansas and_Kansas City divisional 4!5s, Kansas City Southern first mort- gage 3s and refunding 5s and the Texarkana and Fort Smith 515s, Frisco prior lien 4s and Consolidated 4l5s, St. Louis Southwestern Consolidated 4s, Texas & Pacific refunding 5s and Atchison adjustment 4s. _ It was learned today that a Baltimore group of bankers has underwritten a five-year issue of 6 per cent bonds of the Georgia, Carolina & Northern, whose 5 per cent bonds mature on July 1. This is a subsidiary of the Seaboard Alr Line, Industrial Bonds. ‘This first important railroad equij ment issue to be brought out this yea: and in the face of high money rates, was announced today. It is in the form of $6,300,000 New York Central 4l5s, cent. About a year ago New York Central equipments were selling on a 4.20 basis. ‘There was a number of important movements today in industrial bonds such as those in Bethlehem Steel 6s and 5!5s! which are expected to be retired, a 4 point rise in R. Hoe & Co. 615s and one of 3 points in Wickwire Spencer 7s, a rally in Cuba Cane Sugar 8s and great activity in International Telephone 4s, which have recovered more than half cf their recent loss, and in Alleghany Corporation 8s. Hudson Coal 5s dropped a point to the lowest of the year. g, | Washington Stock Exchange SALES. C. & P. Tel. 55—81,000 at 99%5. ‘Washington Gas 65 “A"—8$500 at 103'%, $200 at 1025, $300 at 102%. . - ‘Washington Rwy. & Elec. 45—$500 at 8614, $500 at 86%, $3,000 at 86 Potomac Elec. 51c% pfd.—5 at 10714, ‘Washington Gas Light- t 10675, Washington Rwy. & Elec. pfd.—40 at 9715, 10 at 9715, American Security & Trust Co.—10 at 458. Reu‘l‘ Estate Mtge. & Guar, pfd.—60 at AFTER CALL. W;,;Mnmn Rwy. & Elec. pfd.—15 at b Potomac Electric 514 % pfd—20 at 107%, 10 at 10735, 1 at 112, Capital Traction Co.—5 at 98 Bid and Asked Prices. NDS. Amer. Tel. & Tell Amer. Tel. & Tel Am. Tel. & Tel Anicostia & Pot. R Y ot. g C. & P. Telephone 35 S, & P, Tel. of s, 5. MKkt é‘n‘l‘:laf" Wash. Cons. Title Co. , STOCKS. PUBLIC UTILITY. Amer. Tel. & pital Traction’ Washington G N & W. Age s ec. 67 pid, Potomac Elec; 513% pi Wash. Rwy. & Elec. Wash. Rwy. & Elec. pia.. NATIONAL BANK. =t e RE 52 <8 EEERE woa 233! of Washington, 311 TRUST COMPANTES, American Jontinental Tru: [erchants’ Hationsl Savings & Trst Washington Lo gg5s S2uls L g‘tes and municipalities in Southeastern | 8 @ONDSma EXCHANGE W, Yt Received UNITED ‘STATES. (%4l are 19 83,0000 Sales. High. Low. . SLoig ’9 9925 9928 50 102 1 98 o84 9922 9922 9922 9922 02 102 « 436 104 30 104 28 104 26 « 41 10826 10826 10826 FOREIGN. igh. tralia Australia 65 1957, . gium 6 Belgtum 78 1951 Belgium 78 195 Belglum 7%8 Beigium 8s. Bolivia 7s ct '69. Bolivia 8 Bordeaux 6s. . & | Brazii 6148 1936, Brazil 6%s 1927, 109% 88 100 107% German EI P §% Irish Free State bs. ltaly 7s. . 42 (talian Pub 8 7 Japanese 4s. Japanese 614 35 Kreuger&Toll 5s ot 21 Lyon Marsellle 6s. Washington Gas 6s “B"—$500 at 104%;. | g which are offered to yield 4.90 per | B Porto Alegre 8s. RhineWst EP 6: Utd Kingm 6%s 37. Uruguay 6s 196 Vienna 6s'62. Warsaw 7s’58..... Yokohama s wi... 11 MISCELLANEOUS. Abram&Straus 6% 4 108 3 102% Am Int Cor 6338 '49 Am NatGas ¢ 48’43 Bell Tel Pa 6s B, Bell Tel Pa 55 C. Bethlehm Stl pm 63 Beth Steel rf 55...0 Beth Steel 5%8 §3.. Bethlehem Steel 5. Bush Term Bldg bs. Certain-Td5%srcts Com Invest 6s'48 Con Gas N Y 6% Consumers Pow b Cuba Cane 3s. Cuban Am Sug DetroitEdisonbs40, Detroit Edison 3 int] Cement Intl Match bs Int Mer Marine Inter r Int Tel&Teleg 4%s. 2 934 Int Tel&Tel 448 cv 1218126% 3 102% 128% 10214 Kendall 5%548 Go%s "Al. 108 118% 106% 100 101 Close, | Southwest Bell 9% | Su | Tenn Copper 65 B4 1 101% 99% 88 984 5 100% 110% 109% 109% 105% 9Bl 9By 9% 99h 894 101% 104 4 102% 96% 9% 102% 101% 102 8T% 9% 103% 94% 87% 87 101 125 92% 103% 103 109% 6% | Ore Wash 15t 48, &y Private Wice Direst to The Star Office Bales. High. Low. Close. Por Ric Am Tob 6s. 19 101 100% 101 944 93% 93% 934% 5 99 99 99 9 100% 100 100% 102 101% 101% 2% 97T BTU Stnclair O11 8448 Sinclair 011 18, Sinelair Crudi Stand Ol N J 68 Stand OLIN Y ¢ EstOrient, TennillecPow 63 47. ‘Transcont) Of 6% United Drug 68 63 U 8 Rub 18t vt 6i US Rub 7%s. U S Steel s f 5. Utah Pow & Lt 68. Utilities Powr 6%s. Vertientes Sug 1s.. Walworth 6% West Elec bs... Westn Union §%s. White Eagle O 6 %8 Wiison & Co 18t 6s. 101% Yagstn S&T 6s wi. 14 100% RAILROAD. 19 874 - O NR AN I A D BeaBAN Atch deb 4%s ‘4 '{ Atlantie C L 18t 4 B & O Toleao 4 Boston & Maine 6 Brooklyn Elec 6% Brook!vn Elev ¢ 44 Bklyn Mannat 6 Bklyn Un El bs sta. Buff R & Pitt 4%s. Bush Term con §s. Can Nat 4%s 30 Cent, Cent ¥4 Chesa Ct 19 CB&QII3%Ss.... Chi&E 11l gn b8 61,. ChiGt West 4s Chi Ind&L gen 5 CM&StLPgnsy. 1 Chi M&StP 4 %#s E. 16 ChiMiISP&Pacisis. CMSP&Pacad)ss03, J: Chi NW 4%s 2037 Chi & NW L Chi Rys 6s. ChiR1&P CRIPac4% ChiTH&SE Chi T H inc 68 Chi Un Sta 4% Chi Union St Chi Union Sta ¢ Chi & W Ind cn 48, C&W1b%se2. CCC&StL deb 4% 1 1 4 3 3 b 7 Cuba Nor §1gs cts. Del & Hud §%s. Del & Hud 7s 30, Den & Rio Gen Gt Nor 4%s 76 D. Great North 6s. Great North 6% Great Nor gen 7 Int&GtNor adj 68 Int RysCA 58 173... Int Ry CA 6%srct. Kan City Ft S 4s. Kansas City S 3s Kansas City 8 5s... Lake Shore 43 31 Lehigh Val cn 48 Lehigh Val b5 2003, Long Isrf 4s 49, Louis&Nash uni 4 Man Ry 1st 45 90 Market St 78 40. Mill EI Ry&Lt 4%s8 il 1) 1y & L.s €1 1o ¥ MK&Tprin Mo Pacific gen 4 Mo Pac 58 A Mo Pac s F 77 Mo Pacific Mont Trm ref 5s 41. Nassau El 4s 61. - - e FaCtrnumerr2s ndi-SaRonitce a3 Sl van e 19 e Norfolk & W en 4s. Nortnern Pacific 4s. Northern Pac 58 D. Northern Paer 1 Ore Short L rts ¢s. - wEenBaatoallonilede [ Pennsyl gen ¢ Penna R R c:fi 63, . ARNE PRODCT NAENTERSIPLY Change in Weather Enables Fishermen to Resume L Operaflons.‘v . TImproved. conditions at Municipal Fish Market this morning followed the decided change in weather conditions along the Atlantic Coast, Chesapeake Bay and Potomac River. - Increased receipts of fish, some from the lower Potomac, resulted in a decrease in high prices that prevailed the past few days. Lower Potomac netters yesterday aft ernoon and this morning supplied local dealers small quantities of perch, cat- #sh, eels and other fish found in the ‘ower river, . Oysters continue very arce, however, according to this morn- ing's reports, but some crab meat was received and offered the trade at 50 cents a pound. Vegetable Market. It is expected that continued good weather will materially aid the shad and herring fishing in the Potomac and elsewhere the coming week. Lower orices also are anticipated. A decided improvement in the veg- etable market also is anticipated, im- proved weather conditions making it possible for growers to gather their crops and get them to market. Kale spinach, sold at 50 cents a bushel before the storm appeared, has brought a dollar most of the week, but dealers think the price will drop back to 50 cents the next few days. Many haulers, delayed by the con- tinued rain, reached the local market yesterday and today with supplies of eggs. The eggs were not so plentiful the past few days, dealers reported, and a firmer condition of the market was Teported. Increased receipts yes- terday and today, however, made the market, easfer. . Meat and poultry grlces continue high, and butter prices have shown no de- crease this week. Retailers were on hand early this morning to get the first pick of commodities, and wholesalers ‘were well able to supply their demands. Today’s Wholesale Prices—Jobbers® Prices Slightly Higher. Butter—One pound prints, 46a47; tub, 45';a46; store packed, 20a30. Eggs—Hennery, 28a29; fresh selected, 27a28; current receipts, 26. Poultry, alive—Turkeys, 35; Winter chickens, 42a45; Spring chickens, 50a 85; fowls, 34; Leghorns, 32a33; roosters, 32; ducks, 25; keats, young, 60a75; old, 35240. Dressed—Turkeys, 40; Winter chickens, 45a48; Spring chickens, 58a ?."r‘gi‘"?&as’z"’ 3 }flhorm. 35; capons. 3 : small, 45847; ducl | Keats, 8a1.00. R eats, fresh killed—Beef, 22a24; 25027; Tamb, 30832; pork loine. S0ass: fresh hams, 26; fresh shoulders, 20: | smoked hams, 28; smoked shoulders, 17; bacon, 22; lard, in bulk, 14; in packages, 1415a15, : Live stock—Calves, 16; lambs, 18. Fruit and Vegetable Review. ‘The daily market report on fruits a vegetables . (compiled pby the erk':g News Service Bureau of Agricultural Economics) says: Sales to jobbers ex- cept where otherwise noted. Apples—Supplies light; demand light, market dull; barrels, too few sales to ostablish market; boxes, Washington, medium to large size extra fancy Wine- seps, 3.00; bushel baskets, Virginia, U. 8. No. 1, 2%4 inches up, Ben Davis, 1.25; U. 8. No. 1, 2'; inches up, Ben Davis, 1.50; U. 8. No. 1, 3 inches up, Staymans, gne quality and condition, 2.35a2,50; U. No. 1, 215 to 2% inches up, Yeilow | Newtons, 2.25a2.50. Asparagus—Supplies moderate; de- mand slow, market dull; South Carolina, dozen bunch crates, green, long, very large size, 5.50a6.00; large size, 5.00a 5.50; medium size, 3.0023.50. Cabbage—Supplies moderate; demand moderate, market steady; South Caro- lina, 112 bushel hampers, pointed type, 1.25a1.50: mostly 1.25; good quality, ;gg barrel crates, pointed type, mostly Celery—Supplies light; demand light, market steady; Florida, 10-inch crates, individually washed and precooled, 4 to 6 dozen, 2.75a3.00. Lettuce—Supplies moderate; demand light, market dull; Arizona, crates, Ice- berg type, 4-5 dozen, 6.00a6.25; 6 dozen, 5.5086.00; North ~Carolina, 5-peck hampers, Big Boston type, best, 2.50; leafy, 2.00; ordinary quality and condi- | tion, low as 1.00. ‘Onions—Supplies light; demand mod- erate, market steady; old stock, too few sales to establish market; new stock, Texas, standard crates, yellow Bermu- das, mixed, No. 1 and No. 2, 2.25a2.50. Potatoes—Supplies of old stock light; demand light, market dull; New York, 150-pound sacks, round whites, U. S. No. 1, 1.85a1.90; Michigan, 150-pound sacks, Russet Rurals, U. S. No. 1, 2.00a 2.10; new stock, supplies moderate; de- mand moderate, market steady; Florida, double-head barrels, Spaulding Rose, U. 8. No. 1, 7.00a7.25. Spinach—Trucked-in stock supplying market. Strawberries—Supplies moderate; de- mand moderate, market steady; North Carolina, 32-quart crates, various varie- ties, wide range, quality best, 5.0026.00: fair quality, 4.00a4.50; ordinary quality, 2.50a3.50; Louisiana, 24-quart crates, Klondikes, few sales, 1.50a2.50. ‘Tomatoes—Supplies light; demand moderate, market steady; Florida, sixes, ripes and turning, wrapped, No. 1, fancy count, 6.50a7.50; choice count, 5.50a 6.50; Gems, 3.50a4.50. String beans—Supplies moderate: de- mand ‘light, ‘'market slightly weaker; Florida, 7 -bushel hampers, Green Bountifuls, best, 3.00; poorer, 2.00a2.50. Peppers—Supplies light; demand light, market steady: Florida pepper crates, fancy, 4.50; choice, 3.50. Eggplant—Supplies very light; de- mand light, market dull; Florida pepper crates, fancy, 3.00a3.50; choice, 2.50. TexArk FS 5%s 50. Texas & Pacific 1st. Tex & Pac 68 B 1977 Third Ave ref 4s 60. ‘Third Ave adj §s... Tol Tr L&P 5%s 20. Union Pac 1at és. Unton Pac 4%8 67.. Virginia Ry 1st fa., Va Southwn con 5s. Wbash 4%s 78 rcts. 1 Wabash 6s 76 B. Wabash 5%s 75 ‘West Maryland 4: Western Pacific 58, 1t West Shore 4s 2361, Wheel & LEcn 4 Pomnmaniin - - 1 21 85 8% 8% K OF interest to young people are the church pages in Saturday’s Star. ' The ; more and more that the church of the future depends the young people of today. Consequently it is trying to give them within the church such things of interest to youth as swimming pools, bowling alleys, gymnasiums, basket ball and numerous other attractions entirely on and forms of recreation. ;' from the United States last year $118,- Vashington Ticker | [ By the Associated Press. i Information reaching the Treasury makes it fairly certain that the French Government will pay the United States g A:’m 1, in cash or the equiva- it cash, $407,000,000. The pay- far the largest in interna- nce since war days, if equaled hen— will liquidate in its.en- tirety the 10-year old account arising between the ‘:wo nations from the sale Frar prices X uonlr{ Force lel Responsible Treasury been told that French banking enter- prise; acting for the French govern- ment, has alrendy accumulated and now holds in readiness funds to meet the debt extinguishment. = The amounts, gathered persistently for many months, are understood to be in the forms of dollar ‘bills of exchange, British ster- ling deposits nad gold. The debt is evidenced by formal French bonds, held in the United States Treasury, on which interest has been regularly paid at 5 per cent since that government took over the A. E. F. material, which ranged in character from foodstuffs and automobiles through hospital sup- plies to munitions. ‘Three phases of the anticipated re- payment furnished considerable room for speculation and administrative pro- cedure alike. One is in the Treasury handling of the big lump sum in con- sideration. By law, the receipts from the international repayments are ap- plied to reduction of the American na- tional debt. That does not wholly cover the subject, however, since with so much of a sudden income, the se- lection of particular items of Govi ment outstanding debt obligations comes important. Second is the complete removal from the board of one element in the long international discussion over the Prench debt. It has been frequently assumed that the impending maturity of the war supplies portion of the in- ternational account, always held in mind during former negotiations, an element more or less urging Prance to specified terms. To the degree, this has been true, the element will be put out of discussion by the payment and further negotiations will have to do solely -with the $2,911,507.904 listed as cash advance and accumulated interest. Thirdly—and there is little informa- tion directly available in Washington on the subject—is the estimation as to how the great sum involved has been utilized during thé long months devoted to its accumulation. It is con- sidered certain that the sum has beén employed, but there is only guessing as to whether one aspect of its em- ployment, in part or in degree, has been in the New York collateral money market during recent high interest periods. . —— 'GROWTH OF CANADIAN | WEALTH IS REVEALED | Special Dispatch to The Star. | . ,BALTIMORE, Md., April 19.—Lynn W. Meekins, United States commereial attache at Ottawa, told the National Foreign Trade convention here yester- day that Canada had an estimated national wealth of $27,000,000,000, an }alzrenw annual income of $6,000,000,- 000, more than a million motors cars, a half million radio sets. and an average annual income of $2.000. Canada increesed her yearly produc- tion in the last three years by a billlon dollars, 20 per cent. She al has been considered an agricultural country, though her factories today are produc- ing more than her farms. She bought ern- be- 1 000,000 more than in 1927. By comparison, this export gain alone is larger than the total American ex- | ports to such markets as Mexico or Brazil or Belgium. The United States | sold to Canada last year mearly twice | as much as to the 10 republics of South America, and more than to Asia and Africa combined. And yet Canada has fewer than 10,000,000 people. She is the best customer the United States has, and according to Mr. Meekins her amazing productivity, large as it is today, will seerh ‘small in another decade. Judged on the size of her population, Canada is the richest and most pros- | perous nation on earth. STEEL FIRM REPORTED PLANNING BOND PAYMENT By the Associated Press. NEW YORK, April 19.—New York banking circles hear that Bethlehem Steel Co. is soon to move toward re- | tirement of all or part of its funded debt, amounting to $84.295,025. The re- demption program, it is understood here, will be accomplished at least par- tially through issuance of new common stock. United States Steel Corporation is canceling its own funded debt of $271,385,000 in this way. Details of Bethlehem's reported plans have not been decided and the retire- ment, if it is effected, may not come for several months. Bethlehem common has recenitly been very active on the Stock Exchange, reaching new peace-time levels terday, and its advance has been attributed by Wall Street to the proposed recapitalization. REIGN LOANS. NEW YORK, April 19 (f).—Wall Street bankers .report that a total of $318,036,000 in South American loans is being negotiated here, largely as a re- sult of President Hoover's good-will tour. Some of the loans have been closed and others only await completion of final details. The largest of the projected issues is a $75,000,000 bond issue by the government of Brazil. GERMAN BONDS AND STOCKS. NEW YORK, April 19 (Special) — Gort Red Loan with aray- > Asked- raw- Of.l"“ Cfl;fll’lmhflflnfiz l?d‘\“l" 55.00 60.00 per T o 'R gi‘ 00 3 ok 280030, million, marks,) e 25100 35. , 2 =2 o amburg Hamburg North German s, 3% American Line 41as. Lioyd 4'as. 888333183333 3 28858 ., 82828288388833 N Austrian A Rudolph Karstadt church nowadays realizes ever, are sh some t, and it (m oomhm thz{ have llnee! ln:m rm:!- rant earnings for ear should considerably larger. 4 Childs Co. Childs Co., one of the oldest and largest restaurant chains, recently at- tracted attention because of a contest for its control. Since 1924 earnings have declined steadily, -although during the last two years the company has partly offset poor restaurant earnings y the salc of real estate and lease- holds. In 1927 these sales added $1 a share to earnings and last year turned 2 resiaurant deficit. into a profit of $1.80 | & share. ‘The dissension within the company was occasioned by “meatless menus,” a policy of refusing to serve meat which both factions disclaimed and upon which the blame for declining earnings was placed. Since the new manage- ment has featured meats and other items not included in the strictest dietary rules the earnings have begun to climb. Childs, being one of the first in the fleld, acquired many valuable lease- holds and realty holdings, which it has disposed of from time to time at a good profit. As a rule, thé leaseholds and realty holdings were not acquired primarily because of their future value as such, but merely because the com- Pt I"m' WALDORF pany had to acquire sites for its resta ranis. Many were negotiated at tractive figures and the company been able to profit by this develop- e current price of 54 for Childs stock indicates that buyers are not par- ticularly concerned because earnings de- clined from $6.13 a share in 1924 to $1.80 last year, which meant that the | dividend of $2.40 was not earned by 60 | & cents, Instead, they seem confident | that the new management can regain the company’s former earning capacity | and that probably a yield of better than | 4.4 per cent is in prospect. John R. Thompson. | | The John R. Thompson Co. operates | a chain of 120 restaurants, -5mxx-‘ mately the same number owned by | Childs, but its territory is more re- | stricted. The majority of its restau- | rants are in Chicago, and the othrs, | except for a scattered few, are in cities | east of the Mississippi and north of the | Ohio. ‘The company caters more to the quick-lunch and self-service trade than does Childs. Thompson’s earnings are also diffi-| cult to analyze because of unpredict- | able real estate operations. On the whole, however, the company has been able to stabilize earnings fairly well, having averaged $5.23 a share for the past seven years. Earnings from its res- | She taurant business tend to fluctuate in-| versely with the cost of food, rising when food costs fall and dropping when food costs rise. The decline in earnings for 1928, therefore, are attributed to the increase in food prices during that year. Even at $4.80 a share in 1928, earn- ings covered the $3.60 dividend by a| good margin. Although the company's | future is difficult to gauge because of its | real estate operations, it has not failed to earn its dividend rate in each of the past seven years. The publication of | the 1928 earnings statement recently | has caused the price of Thompson stock 3 decline until, at the current price of 46, the yield is 7.8 per cent. The stock has not sold below 40 in the past | six years. | Waldorf System. The Waldorf system is a consolida- tion of many concerns operating lzuw lunchrooms and restaurants, located for | = the most part in New England, New | York and Ohio. Its “one-arm” lunch- | rooms are similar to those of Thompson, while its restaurants may be compared to Childs. | Although the company's business does | not fluctuate widely, it has not shown very consistent growth. Real estate op- | erations have not played as important | a part in its business as with the other | two systems. Last year’s earnings of | Consult Us vacuum tubes, at $15.50 a share. 40,000 shares of Aluminum Industrify, Inc., common stock, at $26.50 & share. 5,000 shares of Investment Fund of New Jersey capital stock, at $8 a share, bl v U. S. KEY INDUSTRIES: ON FIRM FOUNDATION BY J. C. ROYLE. Speéial Dispatch to The Star. NEW YORK, April 19.—Conservative estimates place the volume of industrial activity today at 7 to 8 per cent above that which obtained a year ago. There is every indication that the business stucture is on a firm footing. A4 In the key industries, the significant thing from a business standpoint was not the size of the slices of the stock melon cut by the United States Steel Corporation, but the fact that President Farrell predicted that sales of the com= fi.ny would approximate a billion and a alf dollars this year. Only sound pros- perity in the major industries would cail for such distribution. A careful survey of the building permits issued indicates that construction work for the country as a whole is exceeding the volume called for at this time in 1926 by & satisfactory margin. There seems small doubt, judging from the raw material ordered, that autcmobile production will continue at or near its present terrific speed for weeks to come, ) ‘The opening of the lake shipping sea- son has given a slight atimulus to soft ccal movements, but this is seasonal. The railroads are carrying heavy vol- umes of h‘el’ht and making a higher percentage of net profits than in any Tecent year. The uncertainty as to raw cotton is having some effect on the textile trades, but the buyers are in a strong position, as ;‘nmp-red with the sellers of raw wools. SILVER QUOTATIONS. NEW YORK, April 19 (#).—Bar sil- ver, 55%. Mexican dollars, 417. DIVIDENDS. Pe- Pay- Hldrs. of Compans. Rate.riod. able. - record m-l!‘nmil;d ‘!li v:,:i” Q May Apr. ec P Benson & Hed em bt sbe Yize (H O)......82 o AL amp Wy & Cn Fdy..S0c Clinchfield Coal pfl Cities Bervice. 10c Do. pf... Dresdner «Amer shares)....$8.50 An Emporium _Capwell Equiteble Cas & Sur..50c Farmers' Loan & Tr. General Alllance. n Cables 7% pf. Int Comb Eng. Do. pf.. Int Harveste; Int Paper Int P AL Int Ry C A 5% pf. Kings Co Trust. Nat Lead pI A Penn Investing.. Pn-OP &L 36 Do. 23355 S8k 8 288 2 (5 23385 . 6.6% pf. 62 pt Ge & Ck pt.1 M May 1. June July Apr. 20 Apr. 15 Bond ol Mt Ind pf... Gr nw. 5125 Q@ .37ike @ Stoek. %% & May 15 May 8 & May 20 Apr.30 Cities Service.. .. June 1 May i8 $2.08 a share were the lowest in several years. Earnings for seven years aver- aged $2.25 a share, earning the divi- dend of $1.50 quite easily. At 25 the | yield is 6 per cent. The prices of all three of these lunch- room and restaurant stocks have been quite erratic. None has risen consist- although average earnings have ple to cover the dividends paid (Copyright, 1929.) Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 | Regarding Your Maturing Mortgage LONG-TERM REAL ESTATE LOANS 5%% We Make First Mortgages on Homes, Apartments and Business Properties in the District of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue. Decatur 3600 Mortgage Loan Correspondent,' New York Life Insurance Company, THE FIRST SUPER-TIRE! GOODYEAR DOUBLE EAGLE SoEES You may learn of all these features by reading the church pages . of Saturday’s Star, which also contain other re- ligious news of interest to all. 101 100% 1003 | Sead A 100% 104% |8 B Al 10t 101 1075 109 | Sou Bacts 104% 104% 99 7 79 99 100 BEN HUNDLEY" GOODYEAR TIRES 3436 14th St. N.W. - (At Newton) 17 101 77 108 : 104% mn”ynu' Sou Ry Mo &0 4a., -1 92 Term Asso S L 8 TN 5TH 87K 1 121% 92 ik