Evening Star Newspaper, April 26, 1929, Page 14

14 = ANCIALY' JTILITY CONCERNS Yy THE EVENING STAR, WASHINGTON, D. C. FRIDAY, APRIL 2, "FEINANCTALS NEW YORK STOCK EXCHANGE 1 Received by Private Wire Direct to The Star Office HIGH MONEY FAILS Ford Issue Oversubscribed. PARIS, April 26 (#).—Applicants for <hares in the new stock issue by the Ford Co. of France, including those who asked for 10,000 shares, will get ~— first day’s business resulted in the issue } being many times oversubscribed. 3 There were motre than 10,000 appli- cants through the Paris branch of the National City Bank alone, while the French Societe Generale, with 700 The branches, had not yet reported. time of closing the issue has not yet ! been made pubiie. Open. High. Low. Close. | ContlTnsur (2). 84% 3d%s 84 843 Contl Mot(80e). 22 22% 21% 21% Corn Prod (13).. 965% 99% 96% 99% | Corn Prod pfe7) 141% 141% 141% 141% Coty, Ine (g2) 63% 654 61 62‘4' | Crex Carpet 384 38 38 3 27 | Cresley Rad . 109 108'% 107 110 111% 107'% 109% | Cruectble Sti(6). 91 89y 89% 39% 39% 384 38w |CubaCareSugar. 3% 3% 3% 3% T T ™ 7% | Cuba Cane Su pf 10 10 9% 10 Alaska Juneau.. 6% 6% 6l 6 |CubaCompany.. 20 20 20 20 Alleghany Corp. 34 34% 334 33% Am Sug.. 11% % 11% 11%; Marmon Mot(4). %0 O1% BRY Alleghany pf 5% 100% 101% 100% 101 Sug pf. 63% 63% 63 Martin-Parry. 12% 12% Allled Chem. 286 290% 283% 283% Aerocl). 158% 164% 158' 16 1‘. Mathieson(§) Allled Cm pf(7). 123 124 123 124 Curtis Pub (6).. 125% 125% 1 Mathieson pf(7) Allis-Chalm(7). 195'% 197 193 193 Cutir-Ham(3%) 61 61 May Dept S(4 Amal Leather, . 54 5% 5% 513 | Cuyamel Fruit.. 77% 77'% Maytag (;")’A‘ Amal Leatherpt 57 57 57 57 | pavison o i Maytag p: e Amerada(2). 325 33% 32% 33 | Dby ,.,,mt‘:"';fc“ ol Maytag st ot ¢ Am Agricul Chm 16%» 16% 16% 164 | DeereaCo pf(7). 122 122 Melvie Shoe 1. Am AgriChpf.. 56 56 53l 56 | el & Hud(d). liu | Mengel Co. MmBARRN(I). 20 T %0 1280 Der LOVRT)L. 120 1230 Lask 1aau | MatroGRElLS . ses and taxes amounted . b4 4 il 65, & 6 |2 e b compared. wilh $40.- {AmBrSh(hL60} B¢ B G 84 |DetroitEd(h)... 250% 2001 MR 105 in the same month last year,| AMBSBoeDI(T). 125 125 125 125 |DevokRayn(t3). 63 63 M Caat Rt wing sn_operating income of $09, | ™ Srown Bov.. 27 28 264 274|Diamond M (8). 144% 148 144% 148 | Ha-Cont BA2). TS 1 oompatizon with $04,11636. mOan (14).... 160 1435 1394 141 | bomadeineat1). 104 10 9% 9% | Middle Btates., Non-operating_income amounted to | \MCREBE(T;. - 141 14l 14138 1404 | Dominion Stores 152 (S 62 52 |Miler Rubbar : t $18,725.40, while the - 100 100 »rug incs). 118% 115% 118 . orating expenses and taxes of $122- | 4T 1 : AppuplanBiik (1). 23 28 23 28 | \igsaur) Pacifie 2 | Am Express (6). 341 341 341 341 i Dupontde N(4). 177% 178% 176% 177 265, &t;:;flée;\}cfif::»gm}gey;;g‘y.\.na.rorpo- . 96% 991 94% 96% | Du Pont deb(6). 117% 1174 117w 117% xgp':‘c‘:’fl“:n‘{f;}' 131, compared with $6494434 last | \meloFoRI(S). 98 98 98 08 |DuqLtlsts)... 100 100 100 100 | \OPRCACREE). ar. This left & total net income for | » . 2| Eastman (18)... 180 180 178% 178% Am&F S 908 Mont Ward 23.. 2 nonth of $56.061.34, compared with | AT&ror Fow 24 s 9% 9041 Katon Axle (3).. 64 64k Moon Motor.... . | Am Hawa SS(1) 3 37 kitingon 2% ). . 314 21 s lower figure & year ago of $47-|.m Hige & L pf. 217 Mother L (40¢). '4.33, e Hm,ff,,"‘;, ;""f Eitingn pf(6%). 100 100 100 Motion Pio Corp. The statement for the first three! sp 10 13) Elec AutoL t4% 148 145% 147 Motor Meter A.. ~onths of 1929 shows tbtal operating | Am ice pr(6)... & 94 | Electrio Boat... 16% 16% 15% Motor Prod(2).. “enues of $1,458,169.89. against $1- | Am Internatl §3. 4 i3 6315 | KIECPOW&LL(1). 667 68 65 67'3 | Motor Whi (3). 510898 last year. Operating exX-|am LaFr&Foam & Elec PELEDI(T) 107% 107% 107% 107% | Mullins Mfg. ... ‘tses and taxes totaled $1306,050.25. | Am LaFrancent o 6o Elec Stor B (5). 81% 1% 81% | Mullins pf (7). mpared with $1,192,854.09, leaving an | Am Locomot(8). 117% 118 Bm Brantgm(A) 13 13 | Munsingwr(3).. serating income of $252,119.64, while | Am Ma & Fy(4). 154 154 ©nd-John(b).... 71% 71% | Murray Corp. Vs income last year stood at' 3282 | Am Metals(3).. 57% 58 ug Parer($1). 50 | Nash Motors(s). 4.89. Am Metals pf(§) 119 119 Das Eiduts) S am% u8 38 | Nash & Chat(?). The corporation had 2 non-operating | Am Nat Gaspf7 731 73% 7s% 73% | EHeRR. T1% | Nat Acme (1)... -~ome of $396,956.80, against $355,- | Am Plano.... B GRS 61 | Nat Bellas H $1. 394, and the gross income AmPuanopf.... 36 38 36 38 -orating expenses and taxes reached | Am P& L (§1).. 104% 104% 100% 102% > sum of $649,076.44, compared with | AmPO&Lt pr(6). 100% 100% 100% 100% 37,283.83 last year. Other deductions | AmP&Lpfstab. 31% 8l% S81% 8 ¥ compared with | Am Radiator(6) 1:6% 186% 18 s | Am Ra&Std San. d6' 46% “me for the three-month period of | Am ity txi§ 32,536.21, in comparison with $442,- ' Am Republi 1.37 last year. Am Roll M (e2). Am 3 Pepeo Earnings Show Big Gains. | A Saf Hasus) - £50 The March statement of the Potomac | Am Shipbldg(8). 86 -~tric Power Co. just filed with the | Am Sm&Ref(4). 106 blie Utilities Commission shows & | Am S& R pf(7). 136 ~al net income for the month of | Am Snuff (12).. 998.47, compared with $306,314.12, | Am Snuff pf(6). n increase of $64,684.35. | Am Stl Fys(3), ross earnings from operations for | Am Stores (3) *~-ch amounted to $856,436.81, while | Am Sugar...... ~ar ago they were $791.102.68, a gain | Am Sumatra(3). March 1929 of $65334.13. one or possibly two at the most. This Open. High. Low. Close. was the estimate made today after the ADItIb] Powe 42 42 42 42 Abrahm&Straus. 1254 125w 125% 125% Adams kxp(8).. 730 739 730 730 Adams Millis(2) 28% 28% 28% 284 Adv Rumley.... 93% 9l 91 94 Adv Rumley pf. 90 90 89 89 Ahumada Lead.. Alr Redetn (#3). Air Way El (2).. Alax Rubber. ... Oven. Hirh. Low. McKesson&R(2) 51% 611 514 McKsn pf A3% 5l 58 57% Mack Truck(§). 108% 1064 103% Mad SqGar 1%. 18% 18% Magma Cop (6). 7 69% | Mallison & Co 28% 27% Mandel(2%). 30 30 Man Elec Suply. 294 29% 29% Man El m2g(db) 354 354 354 [ Maracatbo Ofl... 17% 17% 174 Matland Ofl..... 40 40l 39% Close. Open. 10 109% | 09% 30 . Low. 107% 29% 85% 641y 110 chu.l #1% | Splegel Co (). Stand Com T(1). SHG&E (3%). &6l S G&EDP4). 641 Std Millg pf (6). 110 Sta Oof Cal(13) 7% StdOINJI(11%). 584 Y(1.60). 3% SHOW EOOD GANS "I, R. & E., Potomac Power . and Gas Companies File Their March Reports. T0 BREAK MARKET ‘Stock Rally in Last Few Min-| utes Despite 16 Per Cent Rate. 2¥ GEORGE T. HUGHES. 9% 110 91 Consult Us Regarding Your Maturing Mortgage i Special Dispatch to The Star. G-TERM REAL ESTATE LOANS | NEW YORK, April 26.—Faced with | the highest rates for call money since | | March 26, today’s stock market gave an 1 | impresstve demcnstration of its under- | 5 /2 90 | lying strength. The call rate reached | 16 per cent in the last hour and funds | were in scant supply, even at this ab- | normal figure. The market weakened, % j but 1t did not break, and in the last i | quarter of an hour rallied, leaving off | with irregular net changes. | It was the severest test the market has yet met. Money rates advanced from the renewal charge of 9 per cent to 10, to 12, to 15 and finally to 16 per cent. The last time anything compar- able occurred was the day of the big | break. But the selling which flooded | 26% | then was not in evidence today. For a| 81% | time offerings were large enough to| 15% | force quotations down, but they dried 19% | up when 1t was seen that no large 10% | blocks of stocks were coming out. i 49% Speclalties such as United Aireraft| 23% | came down rapidly when the market ! 115 | was weakest, but regained all the loss | 125 |at the end. Standard stocks like United 343 | States Steel, General Motors and Amer- 5014 | ican Can were unimportantly changed. 2171 | There were a number of strong spots in ' |: the early trading. Among the features were & new high for the present shares in American Can. | This is the kind of leadership always stimulating to the so-called constructive element. General Electric was moder- ately high and United States Steeil| ranged a point or so above yesterday final. Montgomery-Ward, Radio, United States Industrial Alcohol, Corn Products, | Columbia Carbon, Postum Co. and the | airplane stocks were all ug substantially | in the first two hours when, if at any time, the overnight developments in the credit position ought to have been a | factor. i The retreat of the shorts in Columbia | Graphophone was turned into a rout. The stock was dealt in at rapidly rising prices in enormous volume. Around 84 it was up between 8 and 9 points from | the low of yesterday. There was good support for the motors, notwithstanding the quarterly statement of General Motors, showing a falling off in earn- ings. Studebaker, Chrysler and Pierce Arrow worked higher, while in the early trading General Motors did the same. There was another demonstration in New Haven, which carried the stock to the best since 1913. The buying seemed fo be of the most confident sort. Atchi- son, l?cllwnre & Hudson, New York Central and Erfe Improved. but trans- Vick Chem(4). .. Victor pr pf(7). . 11 4 actions were relatively small. Va-Caro Chem N - Va-CarCh 6% p! 3 MONEY MARKET. Vulcan Detin. Vulean Detin( NEW YORK, April 26 (). money stronger; high, 16; low, 9; ruling Wabash. .. rate, 9; closing bid, 16. Time loans 25 | Wabash pf A(5). firm; mixed collateral, 60-90 days, 81; 60% | Waldorfi1i). .. % Ye: 99 | Waiworth(1.20). ;n‘},efif“;'}‘“.‘.; Be i N meietie 6714 | Ward Baking (A Bankers' acceptances unchanged. Ward Baking B.. LAy i METAL MARKET. rd Bak pf(7) rner iiros Ple NEW YORK, April 26 (#).—Copper steady; electrolytic spot and future, 18. Warner pt(2.20) 6% Iron steady, unchanged. Tin easy; roer-Qu(2).. : rrn Bros (15) Warren F&Pipe. 4! spot and future, 43.75. Lead steady: Interest : “|spot New York, 7.00; East St. Louis, I 6.85. Zinc quiet; East St. Louis spot Consult 3 nd tuture, o5oa615 Aniinons: 338 WE AVER-BRO_S ; ;: 3 pf. Std San M(1.68). 837 | Staniev Co. ... 3 | StwartWar(33) 9 | | Stromberg (3).. 7 B | Studebaker (25). Studebak pf(7). Subniarine Boat. Sun Ol (g1).... BY EDWARD C. STONE. The Washington Railway & Electric v ). showed a good gain in net earn- | 3s in March, compared with the me period a year ago, according to| > statement just filed with the Public « “Jities Commission. Operating revenues totaled $521,- ° 1.10, against $502,770.31 a year ago; 61 % Sweetof Am Svmington. . Svmington Cl A. Telautogrph(1). tenn Copper(1). Texas Corpn(3). TexasGulfSul(4) Texas & Pac(§). T&P C&0(b2%) Tex Ld Tr(new) Thatcher Mfg. .. The Fair(2.40).. Thomp J R(3.60) Tidewater AsOil TidewatrO(80c) Tide W O1l pf(6) Tim Det Ax .80, Timken R B (3). o prod 1 4 Tbacco Prod(A). Transcont Oil. .. Trico Prod(2% TruaxTraer 1.60 Undwd-El F (4) Udwd-E1 F pf(T) Union Carb(§) Un O1l Cali2). Uaton Pac(10).. Un Pacific pfie) Utd Air & Trans Utd Air&Tpf(3). Utd Biscuit 1.60. Utd Cigar St(1). (Itd Elec Coa Utd Fruit (e4) Utd Paperboard. US Cast Ir P(2). US CIP 2d 1.20.. U S Distributing (1S Hoffman(4). U 8 Aleohol (8). U S Leather U 8 Leathr A(4) 252% 252% We Make First Mortgages on b3 53 Homes, Apartments and Business Properties in the Distriet of Columbis 81% and Nearby Maryland and Virginia 158% 200 17 238, RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue. Decatur 3600 Mortgaga'-Loan Correspondent, New York Life Insurance Company Equitable Co-operative Building Ass'n' JOHN JOY EDSON, President WALTER S. PRATT, Jr. Secretary | Organized 9 49th YEAR COMPLETED Assets ... ..$5,513,051.63 Surplus & Profits.....$1,601,704.98 Subscription for the 96th Issue of Stock Being Received $ave Now and $pend Later $2.50 ——HERE are P;r lT' spend money sh.“ 604 7% 117% EvansAu L 1234 Fairbanks Co pf. FedLt&Tra 11% KFed Mot T(30e). Kidelity-I'hoenx 98% 98% Filene's pf(6%). 103 103 103 First N P 1st(3) 115 115 115 “irst NatStil). 69% 0% 69 F'sk Nubber.... 1% 11% 11% 11% | Fleischman 3% 68% 69% 63% 69 Florsheim pf(6) 101 101% 101 101% Follansbee t2%. 67% 67% 65, 65 Foundation C 66 68% 65 65 ox Film A4 924 924 B8% 90 Frank-S pf(7).. 106% 106% 106% 106% Freeport T (4).. 41% 44% 44 41% Gabriel Snub A.. 22% 224 22 Gardner Motor.. 13 13 12% Gen Am TC(34). 8% 9% 85 % wld " - expenses were $334.463.02 | amTel&Cats). 20k 20 20% [24% | (iun Barpotid). 106 198" 100" 107 ating inst $339,130.50 last year, an ‘ex-|Am Tel & Tel(9) 230 233% 229 231%| Gep C: 5 1e cut of $466748. Net earnings |Am Tobacco($). 164 164 163% 1634 | Gun can ,,‘,f,?: 13{ 1:,3;‘: 1?}3& m operations amounted to $521.- | Am Tobac B(8).. 166 166 164% 164% . 70 0% 7 °7°.79, against $451,972.18, a gain here | Am TypeFo(8).. 150 150% 148% 149% | Gen Klectrie 16.. 241 243 70,001.61. {AmMWW&El(el). 84 5 84 54 |Gunkleoapioc) 114 11% Cross earnings less opera 18% 18% 18% 184%|GenG&EIA1%. 73 75 T '“if”::""kd $534,539.83, Ady ;m ;t' 4; Gen Gas(rights) . | 0 1 5273345 a year ago, an 3¢ 4 h 334 | Gen G & EL Y -5 of $71,806.38. Other Am Zine pf.. . 98 98 9Tl 9T%|(en Gl‘l::fa(‘;; 1:: :51‘ :fi 104 m income amounted to $163,541.36, | Amaconda (7)... 142 142% 139% 142 |GenlceCrm(3). 109 109 105 103 + mpared with $156,419.33 a year ago, | Anaconda (new) 118% 119% 117 118 | Gen Mills (8 % 1% 16% 1% o difference of $7,122.03, and leaving | Anaconda (rts).. 25% 26 254 25% | Gen Motors (3). 4% 86 84 854 above mentioned total gain in net|Anehor Cap2.40. 56% 56' 56 56 ) Gen Mot pri).. 124 124% 124% 124% © over $64,500. Anchor pf (6%). 117 117 117 117 | GenOutA(4)... bl 5i% 51 51% Giross earnings for the first three|AndesCopr(3). 52% 53% 51% bi% | GenOutctrs(2). 34 35 34 35 ths of the present year totaled | Archer Danls(2) 37 3T 37 87 |iien Ry Sigts).. 106% 106% 103 103 1371,25651, compared with $2.417.-|Armour ll(A).. 12% 12 12% 12% | Gen Refract3%. 75 80 77 7 91 a year ago, an increase of $153,- | Armour IIl(B).. 6% 6% 6% 6% Gillette S R«5). 113% 113% 112% 113 Te-|Armour LIIpf(7) 78 78% 78 78%|Gimbel Bros.... 9% 39% 39 39 25% 264 Z5%| GliddenCot1%. 4¥% 504 45% 49% 26 26 | Gobel (Adolph). 48 49% 4T 48 52% 651% 62 |Gold Dust (new) 6% 65% 634 64% | mnibus . 45 A5k 45 45 | Goodrich(4). 85% 86 83% K5 |Orpheum pf( Nat D St 18t(7). Nat Distiliers NatDistlrs pf(7) Nat Enamlg (1). Nat Lead(6). ... Nat Ld pf B(¢ Nat Pow&Lt(1). Nat Radiator... Nat Supply(18). Nat Surety (5). NatTea (1%).. Nevada Cop (3). Newport A (3).. Newton Steel (3) N Y Alr Br(3).. ¥ Central(8 YC&StL6). N Y C StL pf(6). NYNH&Hart(4) NY NH&H pf(7) lots of ways to but only one way to SAVE it—and that's the = SYSTEMATIC WAY! just live for today...start in now build for the FUT Our systematic saving plan will help you to use only a small amount of your weekly or monthly salary, in BUILDING up a reserve for your LATER days. Come in today and let us explain. 915 F St. N.W. . 65 394 38% 381 86 86 86 106% 104% 105% 136 136 136 197% 197% 196% 196% 108% 1081 108% 1083 66% 67 65% 664 81 8% B0% 80% sl B1% 8lu 81% 48 45 48 48 TOSS | Am Sumatrarts. % % % 124 . 88 1S Steel(7).,. U S Steel ne 11 S Steel pf(7) U S Steel (rta). . U 8 Tobacco(3). Unt Pic 1st pf(8) Univ Pipe & Ran UtahCopper (16) Uul P&L Acez). 0% % 239t s 11w W " INYStmistpT. Norfolk Sou 2%. Norf & Wa(t1v) NorAm bl0%stk North Am pt(3). NorAm Ed pf(1) No Ger L 3.41. ortn Pac(5) or Pac cfsi5). rwalk Tire Nunnally Co.... 011 Well Supply. Oliver Farm Eq. Oliver pf A (6). Oliver conv (3) 1 127% van Raalte pf. .. For a Safe Investment REAL ESTATE NOTES Secured by High-Class Improved Properties Competent Appraisals W Penn El A(7). W Penn El pt (6} W Penn Ei pf(1) West P Po pf(7) Washington Ticker m‘:}l‘m Wesson O pf (4) 809 15th St. N.W. By the Associated Press. Complications raised by the writing of sugar schedules for the new tariff bill—a task now engaging House ways and means committee members — are among the earliest to draw both ad- ministration and trade attention. They include dealing with the fact that sugar imports from the Philippines, now duty free, have grown from 147,212 tons in 1921 to an estimated 627,000 tons for 1929, while there are growing imports from Porto Rico and Hawail. ‘Though committee secrecy surrounds the schedule as yet, it is reported that Republican members favor an increase from 2.2 cents to 3 cents per pound | upon the foreign import of raw sugar, with an increase in the preference rate now given Cuba from 1.27 cents to 2.40 cents. But the increase alone is not considered sufficient to protect the American beet sugar industry in view ) of the supplies from the coun trop- ieal ons. “I have proposed to limit the free import of Philippine sugar into the United States to 600,000 tons per an- num and among the number of persons protesting such a policy is Secretary Stimson,” said Representative Timber- lake, Republican, Colorado, chllrm.n of the ways subcommittee on sugar. “The matter will have to go up to the Presi- dent. The evidence coming to us is preponderant in establishing the view that the Philippines may go on in- creasing output indefinitely, though peak production is probably close in Fo R il T e by my resolution for mh more that country has shipped to the United States in any one year as yet.” Myc. luhl{ltuce for sugar tariff in- crease, Representative Frear, Republi- can, nsin, has proposed a direct bounty of 2 cents per pound to Amer- b inereaied h oe problem, however bers intere: prol , however, ‘The New Haven Clock Co. is to make it S aiBe her of . public offering of an issue of 6% Per | jn; the American grower will be adopted. cent cumulative convertible preferred “The prejudice against subsidy or g (3) Westhse A B(2), Westinghse(4).. Westhse 1st(4). Weston Electric. ‘heel & L E pf. White Kagle(z). White Mot(1).., White Rock (3). White Sew Ma White SM pf(4). Wilcox 011 & G.. Wilcox (A) 2%.. Wilcox Rich B Willys Ov ¢1.20., Willys-Ovd pf 7. Wilson & Co. . Wilson & Co pf. Woolworth (8).. Woolworth new. Worthn Pump. . Wright Aero(2), Wrigey ((13%). Yale&Towne(4). Main 9486 Peerless Motor, Penick & Ford. . Penn C&Coke. .. Fenn Dixie Cmt, Penn R R . 2% B2% 81 eople’s Gi 262 264 261% Pere Marq (18).. 159% 159% 159% Pere Marqpf(5) 94 94 94 1’ere M prior(5). 98% Pet Milk (134).. 35% Phila Co pf(2%) 49 1la Co 52% 20% Ph 1% Two Interesting Plans For Financing w: Invite Applications For FIRST TRUST LOANS on Improved Property IN NEARBY MONTGOMERY CO. AND THE DISTRICT OF COLUMBIA st 5159, nererest aunimum commissten) Periods of 3, 5 or 10 Years Or, if You Prefer The Trust May Be Made to Bear Interest at 6%, to Include Commission No Appraisal Fee FURTHER DETAILS ON REQUEST POZNELPS Loan Correspondent Young 8pgs 12% 6 Youngstu 8h(6). 125% 126% 125 Hourly Sales on N. Y. Market. 10:30 am.. 563,000 12m... 1,777,700 1:30 p.m. 2,533,700 2:16 p.m 2,975,000 Dividend rates as in 5 TSt e 2 el g 2o e Pitts & WVa(§). Por RicoToA(7). PortoRicoTobB. Postum(3)...... Prairie Ol1&Gas. 21% 83% 1047 120 146% Int Nick,Can 80e o ne— Pullman Co(4). Punta Aleg Sug. Pure OIl (1) . pure Ofl pf(8).. Purity Baking. Radlo Corpn. ... RadioCo pf(3%) Radio pt (B). Radio-Kelth(. Wall Street Briefs By the Associated Press. fgy:'& ffl; 199% }z:"’ gnoulayu;!’nr 131% 133% 129 131% | Otis Elev (6). . - jotham 2 . b5y 5b! b or . 04| At Const L(130) 177 177 176% 1764 | Gotham b ot oy, s6” oo of 8 s thi PI(7). 95 95 95 95 |Owaens Bot (¢4). xpenses for | AtlGulf& Wi.. 69% 6% 58% 59 |Gould CouplerA % %% % 8% > quarter leaves a total net income of | AU GuIf pf (4).. 58n 59% 58 68 | Graham-Paige.. 36% 36 4% 35% Pacific Gas (2) ©.116,262.11, in comparison with & net | Atlan Ref(t1%) 61% 623 60% 61% | Granby Min (7). 55 5o% 83 53y | LAC LiEhiE ). he first three months of 1938 of | Atlantic Ret rts. €% T%|Grand FEW (1), 91% 9I% 8% &84 | hac po) & relii} 77.14, or an increase in net earn- ; AtiasFowder(4). 9% 96 o2 umve 26w 27 | EacTel & Tel(1) this year amounting to[AtlasTack..... 14k 15% 14% 14% 9% s 9 4w | Packard (H¥%) . R 122% 125% 122 126 | bam A er bt D ;- 30 30% 30 30%)GreNorth pf(8). 105% 105% 104 104 | pam- AT (3) 40 40 “40 40 |GeNorpfetsiS) 103 108 103 103 | parsmoumtrL | Baldwin Loe (7). 246 246 244 244 |GrNorOrefs3ii. 20% 20% .29 20%{p.ry & TiI(23). . Bald Loco pr(7). 120 1zl 120 1214 [Grt WnSug2.80. 38 39 3T% 7% | pary Utab(se). LI20% U220 121 1204 {GTEWRSupf(1) 116 118 116 116 | parneme. Bambgr pf(634). 108% 108% 108% 108% | Greene Cana(8). 161% 162 169% 160% | p Bang & Ar(3%). 65% 654 65% bl | Uulf Mo& No 48 4% 48 49 Barker pf(6%). 92 92 92 92 |GuM&NDI(E). 99 99n 9y Hyx Barnsdall A (2). 43% 43% 43% 43% | Gulf StatSti(4). 6% 6% 63% 6 Bayuk 18t pf(7). 101% 102% 101% 102% | Hahn Dept Stor., 42% 43 41% 43 o1l 28% 8% 22% 22%|HahmDSpf6l4. 100w 101% 101 101 15 15 1% 14% | Hanna M A (7).. 94% 9 94% 95 81% 81% 8l1's Slia| Hartmn B(1.30). 26% 254 6% 25% 86 Havana EIRy... 10% 10% 10% fo0% BARUAR$u (s 118w 110 111% HawallanP(2).. 6 o3 68 63 eth Steel pf(7) 18 118 yes Body.... 63% 6o 61% 64 . me month last year. Blumnthl pf(7). 105 105 105 | dersney Corp... 3l Blk 50k 0% « ~iterly total of $288,3' | BohnAl&Br 13% 126% 129% 126% 129% | Hershey pf(4).. %0 %0 90 increase of $33,974.58 for the | yon AmiA(4).. 33k 3% 83 3 | Hoed& CoA. 16% 16% 16% 28 Horden Milk(6). 187% 188% 185% 186% | Hollnd Fu( il 424 41w Borden (new)... 94% 95 914 93| Homestake(t7).. 76 75 76 76 Borg Warner(8) 128% 129% 124 128% | Household(t4).. 69% 70% 69% 70% | Phillips-Jon(3).. Tond transactions and transfers in| Boston&Me (6) ¥8 90 88 90 |HoustonOll.,... 98 99 9514 95 | Phil-Jones pf(7) i leral-American National Bank stock | Botany Mills (A, 10% 10% 10% 10% | Howe Sound(4).. 78% Ti% 71| Phillips P (1%). 1 trading on the W Stock | Briggs MIghCo. 45% 46% 44% 457 | Hud Man(2z3).. 43 42% 42% | Phoenix Hosiery ~hange today. There was a turn-| Brockwy Mot(4) 54 54% 534 534 | Hud Man pf(5).. 74% 74% 74 74% | Phoentx pt(7) °r of 45 shares of Federal-American | Bkiyn. n(4).. 66'% 66% 65% 66 Hudson Mot(5). 86% 87'a &5% 6% | Plerce-Arrow 335%. c::merml N-uomx:t::mp gklynlé:o:(lz(;)). 179% 179% 178% 179 | Hupp Mot(f2)... b2 534 51 bin Plerce Oil. ... 17 other bank stock out, moving at | BrownShoe A2% 42% 42% 42% | ), 3 Plerce Ofl pt.... 3 Brunswick B(3) 46% 46l 44% 44 éfi?:%f,‘z:, '3”;’,. ‘,‘,‘;:‘ I:Z,‘ 'fl"' Plerce Patrolm. Washington Railway & Electric pre- | Brunswick Ter.. 30 30l 30 30 | (ngian pot (1).. 20% 200 2004 sopg | Fillabury (1 red sold at 97}5. Columbia Sand & | Bucyrus(1)..... 33% 3% 383% 33%||ndian Refining. 49% 49% 471 48% avel preferred opened at 917, ad- | Bucyru 43% 43% 43 434 | indian Refgeifs 46 6% 4% 46 need to 92 and closed at 91%, after a (7). 114 1144 1144 114% | ingust Rayon... 114 114 114 1i4 hare turnover. District National | But&Sus pf(4).. 85 85 85 85 | ingersoll-R(16) 146% 146% 145 143 curities Co. preferred moved at 101|8urns Bros(B).. 30 30 30 30 |injama®0l(3%). 93% 93 92% 92% : 1 a small ot of Peoples Drug Stores | BurnaBroapf(7) 100 100 100 100 |yngpiration C(4) 49% 50 48% 45 ; _ferred brought 115%. Burroughs (15). 286 286 2847 84% | . erboroRapTr. 31% 3% 31% 42% Washington Gas, selling ex-dividend, | Bush Werm(g2). 64 64 64 64 |iniernatAgri... 14 16 13% 13% {ired in two 10-share sales, one at BushTerpf(1). 113% 1136 113% 113% | 1nel Bus Ma (5). 174% 178% 1745 176 ' 315 and the other at 1063, In the| ButieCop&Zino T T4 7k 74| (nicCementis).. 1 w2 o1° o1 °d division Washington Gas 5s sold at | Butte & Sup(2). & 8 ¥ 84| in Com Engi2), 75 14% 69% 72 7% and Capital Traction 5s at 99!;. | Butterick Co.... 3l Sl 30% 30% | int Hary (33).. 109% 110% 1071 108% Byer & Co 166 166% 160 162% | ;¢ Mich pt 3.20, 2% 3% 82 Economist Heads Corporation. By-Prodets t23. 119 119% 115 115 ne.. 6 6% 6% “Iomer B, Vanderblue, director of the | Calif Packg (4). 75% 176% 6% 7% 48l 49% 4TY r nomic service of the Harvard Eco-|CallahanZime... 2% 2% ° 2y 28 48% 49% ATn mic Society and professor of business | Calumet&Ar(10) 136% 137% 133 134 . 2 2 nomics at Harvard University, has|Cal& Hecla(4).. 464 46% 44% 456 | IntPapr& PoB. 17 n elected vice president of Tri-Con- | Can Dry (14%) 86% 36 ®b% ¥5% | lnt Papr & Po C. 13% 13 <ntal Corporation. Organized under | Can Pacific(10). 241% 241% :38% 240 | Int PakPo pf(7) 86% %6) ¥6% > sponsorship of J. & W. Sel & | CannonMills2.80 38% 3sly 38l 38% | int Prigink2%. 524 52k b2% « -, Tri-Continental is one of the larg- | Cuse Threshg(6) 390 400 390 IntPrigink pt 6 98% y8a 9x investment corporations in the coun- | Cavanagh-Dobbs 32 52 32 It Ry CApf6), 74 T4 4 with resources in excess of $50,- |CavDobspfél%. 99 99 99 Intl Silver (8)... 132% 132% 132% 132% 1000. Beginning July 1, Mr. Van- | Celotex Co (3) 8% 0% | ntl Stiver pf17) 1164 116% 115% 116% blue will devote his entire time to | Celotex pf (7). .. BTh 7% int Tel & Tel(8). 254% 262% 2hdl 260 Cen Aguirre(2). d8% 38 affairs of the corporation, g ir. Vanderblue is widely known as an nomist and as an authority on the ney market and business conditions. | * Weekly Letter and Quarterly Busi- | s Review of the Harvard Economic | Certo Corpnt3). 66 iety, prepared under his direction, are | Ches & Obio(1v) 225 hly ‘regarded by banking and indus- | C & O Corpn(3). 21 leaders not only in the United | Chi & Alton pf.. 1tes, but also abroad. Chl & East 11l pt ir. Vanderblue is a director of the | Chi Great West. mbridge Trust Co. and has written | Cot Gt West pt.. ral bocks. Chi Ml &StP.. Heard in Financial District, Chi Mi} & StP pt o Chi& Nwn (4).. “resident Maurice Otterback of the | Chicago Pan Tool wostia Bank is spending a short 'Chi PT pfi3%). ation at Atlantic City. t Alloy(2).. ‘entury Rib M. . Cerro de Pas (6) ChiRI&P (T 100% 101 Certain-teed Pro 224 »7% Y . 125% Inter Dept 8(2 isiang Creek(4). Jowel Tea (15).. Johns-Manv(3). Jones&Lau pf 7. o5y JordanMot (rts) i3 oy 4% | Jorasn Motor. 19 19 | K CPo&LtB(6). b4% 54% | Kan City Sous) 18 an C So pf(4) Kayser J(6). eith-Al pf(7) 52% | Kelly-Spring. . 535 | Kelly Tire 6 6% 167 4b% 18 100 2% 22 66 65 Kennecott (4)... T4 T4 1 2% b5% 56% b55W 56 148 148 148 148 182% 184% 1784 181 121 121 121 121 e bed % % LT Y 109 109 109 109 6 85 Bl 86 64% 64% 64% 64% N84 B9 87 105 105 105 17 17% 16% 59 bl% RSCofs(4)s.ee ReadingRy(4).. Reading 1st(2).. Reading 2d(2).. " 9y Royal Royal D(a1.336) % | which $750,000 will be outstanding, and " | proposed recapitalization 11 the preceding week. Inquiry was made stock and a limited amount of common. Proceeds will be used to retire the pres- ent outstanding preferred stock and for other corporate purposes. Under the the orized company will have an autl issue of $1,600,000 cumulative preferred, of 150,000 authorized shares of no par | common, of which 71,960 will be out- | standing, Structural steel contracts awarded in the week ended April 23 totaled 34,- 000 tons, a decrease of 24,000 tons over e bounty in any form, if nothing else, is in my judgment too great to allow ex- pectation of the enactment of a sugar bounty bill,” Representative Timberlake sald. In spite of secrecy with which the committee customarily surrounds its work until its printed bill is published, current gossip in trade and business circles persistently has it now that tariff rates are being provided against two important construction materials now on the free list—cement and shingles. ‘The actual figures of the rates ascribed | are very dissimilar, but accounts are in agreement that the committee has agreed in some SteiN Bros. & Boyce ‘We take pleasure in announcing the opening of our Board Room. This addition to our glrt with the argu- ments presented by representatives of the industries concerned. Cement mak- | ers have complained of importations from Nova Scotia as well as from Eu- ropean manufactured products, while the shingle tariff is urged by the West Coast. lumber interests, British Colum- bia competition being cited. On the basis of past performances, both of these rumored tariff proj will have to face extensive dle West opposition. In 1922, former Secretary oy State Kellogg, then a Senator from Minnesota, led a combination of Re- publican Senators from the interior who facilities enables-us to offer a com- plete investment service. District Bankers’ for about 33,000 tons, as compared with 25,000 the week before. American Rolling Mill has arranged to have prominent sheet makers in Eng- land and France produce automobile sheets under its patents. Directors of National Food Products Co. have authorized a $4,000,000 bond issue, the proceeds of which are to be used for expansion. The company also 6% | has an option to buy control of South- A ern Grocery Stores, Inc. Kinney (U R). 32y, | Kinney (G R) rts 5915 | olster Kadio. .. 103% | Kratt-Pho(1%). 94% | Kresge (1.60). 55% b bl | Kresge Dept 8 22w 22% 22| Kresge DS pf,.. 60% 6 Ki SHQ)... isteuger & Toll. | Kroger Grotel). 67% 67% | LagO OMlu.vuvsns 62% 60% 61% | Lambert Co (3). Bid B0 - B2%||eeTire & Rub. 184 18k I8l 1464 140% 142 | eh PorCmizl 58 68 68 52 0% 51% | Lenigh PCpf(1) 110 110 99 98!, Lehigh Val Coal 23 229 SR1&P LS. hi Yel Cab(3).. hilds(2.40).... g a4 Chile Cop (3%). Jrters. Chrysler Mot(3) The Pennsylvania Railroad’s March | City Ice (3.60). . operating income of $10,737.420 is | Ciiy Stores new. increase of $1,989475 over the net | Ciuett-Peab(b March, 1928 Coea-cola (4). The Briggs & Stratton Corporation | Coijine & Alkmn sorts for the three months ended arch 31, 1929, net earnings after X s of $342243, as compared With | Cojumbia Graph 81's 10,154 for corresponding three months | ol Carbon t4%. 140% 1928. n Credit (2).. b2% These earnings. which constitute m Ciistpf 6% ¥8% 100% 1 B2% 593 101% 95 55 22% Safeway ( Safeway pf () Safeway pf (7).. St Jos Leaa(13). StL & San Fr(8) StL&SanF pf(§) StL Swn pf(6).. Schulte (h3%) Schulte pf(8) Seagrave(el.20). Sears-Roe(32%) Seneca Copper ., [ tuck FG(2). Shell Un(1 Shubert The(5). o'clock at bankers’ head- New York Stock Exchange orders executed for cash or accounts carried on conservative margin. STEIN BROS. & BOYCE Established 1853 29 29 29 29 146% 1467% 142% 144% ‘Wheel ord first-quarter for ths corporation, m Crpf B(2). 26 equivalent to $1.14 per share on | Com Inv Tr(34). capital stock as compared with 47 Com inv (war). ts per share for the corresponding | Com Solv (h8).. riod of last year. Com Power (14) The purchase of two Boston news- ! ongoleum-Nair sers by International Paper Co. will it nvestigated by the Federal Trade | Cong Ckrs ¢ l1~~ mmission at a public hearing to be ). 4 April 30. At the annua) meeting of the North rerican Co. the retiring directors re re-elected. Yokohama raw silk prices have ad- nced 10 ven, bringing the sajyu grade » 1420 yen, or the highest level in arly two years with the exception of ices that prevailed for two days last | Cont Baking nth. The Canton market is firmer ' Cont Bak yli’ 1d Shanghal is Contl Can (3 Con Cgrs pi17) Con ¥ilm pf(2). 1o ConRRCuba pf 6 334% 1ty 24% 26 26 LehighVal(3t%). 160 159 Lehn & Fink(3). 2 - " Lig Myers(16). . 338% 333 Lig& Myrs B 16 144 138 i..ma Locomive 4% 28% | Link Belt (2.40). 80 80 Liquid Car 14% . A% KT% Loew's (13)..... Loft. . v.us o Loose-Wil 2.60.. 97 28 1074 108% 99% 63% 3% 16 8 Louls GasA 1.76. Louin & Nash(7) Ludlum8ti(2).. 2% 11 957 % Mac And(12.35). MecCrory B(2). . McGraw Hill(2) MoKeespt Tin Pl Ludlum 8 pt 6% . 102 B9 56% B89 Simmons Co(3). SimmsPet(1.60) Sinclair Ol $2% Sinclair pf(8) Skelly O11(3)... Snider Packg Co 89 b6% s BT% 50 53 8% 60% 91 | South Por pf(8). 6o | South Cal B4 (2) 584 | Sou Cal Ea(rta). 14 South Dairies A. 143 { Spalding (1. Soang Chalfor. . Sparks With(3). Spen Kellog 1.60 Spicer Mf . SplcerM{g pf(3) 37% 374 87 101% 1014 100 44 “ 44 4" 0% 2% 0% 71 193% 37 58 40% _49% 45 58 29% 38 110% Stockholders of Kelsey Hayes | Corporation and of Wire Wheel Corpo- | ration of America have approved con- ! solidation into & new company through jan exchange of stock. BALTIMORE COUNTY BONDS. | BALTIMORE, April 26 (Special).— | Bids have been asked on a $1,000,000 126% 144 9% 122 514 43 1924 37 56% % % | 1ssue, of 414 per cent Baltimore County successfully associated with the Demo- cratic minority in defeating shingle duties. - An extraordinarily sharp increase in exposts from the United States to South American countries, amounting to be- tween 70 and 80 per cent for the first \wo months of the vear has led to Commerce Department calculations bonds, the proceeds of which will beascribed f used for school purposes. Sealed tenders for the issue will be opened at Towson on May 22, 4 On May 13 bids will be opened for a P’M.w& issue Mt“/zdp" ;:enb stfll"o'bb“d? re partment and equ! en! nds., These bonds will be dated June 1, 1929, | nndnz‘h d to retire them pro- to ‘South America 1 of $105,033,036, as Woodward Bulfin; Telephone: Main 3473 WASHINGTON, D. C. Main Office: Baltimore, Md. Members New York, Baltimore and W ashington Stock Exchanges Associate Members New York Curb Market