Evening Star Newspaper, May 23, 1929, Page 14

e VIR ¥ ANCIAL. THE EVENING STAR. WASHINGTON. D. C, THURSDAY, MAY 23 1929. FINANCTAL.™ 14 N i STEADY T OND.C.EXCHANGE érgenthaler Features Trad- g Today—Fractiona! Drops ~in Some Issues. BY EDWARD C. STONE. Odd-lot trading in Mergenthaler Lin- otype featured today's session of the Washington Stock Exchange, following yesterday's extra and regular quarterly dividend announce- ments. The stock opened 1067 and closed at 1064 after eight differ- ent sales involving a 105-share turn- over. Capital Traction lost s on the day’s trading, closing at 95!, on sales of 31 ahares. Potomac Flectric Power 6 ! per cent preferred sold at 112! and the 5!, per cent preferred at 106 and 106 in odd-lot (mdlngl. IR(‘&\ Es- te Title Insurance .80 sold at 225 and 220, Federal-Ameri- can Co. common moved at 50 and the | preferred at 101 and 100. Three bank stocks appeared on the board, Columbia National coming out for the first time in several months, five shares selling at 40214 ; Liberty Na- tional registered 250 and Federal-Amer- an National 335. de e ond department Washington | Gas 63, series B, sold at 103, 1033, and | 103 Washington Railway & Electric 4s recorded a $1,000 sale at 86%;. The final sale was in $5000 Anacostia & Potomac Railroad 5s at 95. W. T. Burns, president of the Burns Grain Co. of Omaha, Nebr., was a vis- itor today and was granted the courtesy of the floor, Omaha is making an ef- fort to establish a local exchange and Mr. Burns is here in the interest of this move. Convention Reservations Sp«: I;Vl:‘.h H. Woodward, president of e Mgllx‘n‘:.d\elernon Savings Bank and chair- man of the transportation committee for the coming_eleventh nnnug\ con- vention of the District Bankers Asso- ciation, Teports that reservation appli- cations for the big event have been coming in much more rapidly during the past few days. Between now and early in June enough more reservations Claude H. Woodward. | is now operating on Eastern daylight- saving time. Low. Close. | Abitibl Power. 38% 3 Abitibi pt (6) 79% 794% Abranmé&Straus. 10815 108's 1084 108l Ap&Straus pf 7. 109% 109% 109% xp(6).. b4l B4l b4l Sx (rts). 33 82 Adams Ex pt(5) 9% 90% Adams Millis(2) 31n 30's Adv Rumley.... 487 Adv Rumley pf.. 60 Anumada Lead.. 2 24 2 | Air Redetn (131, 1215 1241 120k Air Way E1 (2).. 38% 40% 38% Ajax Kubber.... 6 6% Alaska Juneau. . 54 5% Alleghany Corp. 321, 331, 32 Alleghny pf 5. 100 100 100 Alleg pfrets 5% 100% 100% 100% 100y Auter Chem.... 280 2854 280 285 Allled Cm pf(7), 123 123 123 123 Allis-Chalm(7). 156' 186% 186 186 Amerada(2).... 27 28 27% 28 Am AgriculChm 10% 11% 10% 11'3 Am AgriCh pf.. 43's 44 43% 44 Am Bank N(12). 116 116 115 115 Am Beet Sugar, 15% 16% 15% 1o% Am Bosch...... 56 b58% 56 58 AmBrSh(h1.60). 51 61 60 bu% AmBShoe pr(7). 123 123 1 Am Brown Bov. 27 29 Am Brown Bopf »9l3 92l Am Can (14) . 1305 Am Can pf(7)... 141 AmCar&Fdy(6). 5 95 941 944 Am Chicle (3).. 53% b4% 53 54% Am Com A11.60. 481% 50% 43 50% Am Encaus (2).. 33 83 32 3 Am Express (6). 823 323% 323 Am Expctfs (6) 324 324 324 Am & For Pow.. 994 104 Am&ForP pf(7) 106% 106% 106 Am&For Pow 2d. 90 90% Am Hawa SS(1). Am Hide & L pf. Am Home P 3.60. _ Am lce (13)..... Am fee pt(6) Am Internatl $2. Am LaFr&Foam Am LaFrance pt Am Locomot(8). Am Ma & Fy(4). dia 150k 1544 Am Metals(3).. 53w biu 53% 53u Am NatGaspf? 72 72 72 72 Am Piano, 8. &8 b 5 Am Piano pf. 3 g wgp AmP&L (f1).. 109 109% 106 AmP&Lptstab. 31 8i% 81 AmMP&LtAG). T4 AmPo&Lt pf(6)) 100 100 100 AmRa&StdS2%. 41Kk 424 41% 41% AmRa&San(rts) 1% 1% 1s 1% Am Ry Kx(8)... 160% 152t 1501 162% Am Ropublies... 50 61 494 50 Am Roll M (c2). 112t 114 1ilis 114 Am Saf Ras.re). Am Ship & Com.. 8915 “ 130% 134'3 141 141 141 400 89% 60t % 61 112% 113% Note—The New York Stock Exchange ! Open. | Com Power (t4) 151% Conde Nast(2).. 60% l"nnl(fl.um alr | Cong Cirs (5). . Censol Cgra (7). ConCigprpf(6%) Con Cgra pfe7). . Cons Film pf(2) Censol Gas (3).. ConsolGaspf (6) . ConRRCuba pf 6 Consol Te: Container (A Container (B). Cont Baking A. Cont Baking B Cont Bak pf (8 Cont Can (2%). Contl Insur (2).. Contl Mot(80c). Corn Prod (13).. Corn Prod pf(7). Coty, Inc (£2)... 1 85% 1410 Crossley Ra($1) Crown Cork & S. Crown Zelrbek 1 Crucible Sti(s). CubaCaneSugar. ba Cane Su pt Cuba Company.. Cuban-Am Sug. Cuban-A Sug pf. Cudnhy PKR(4) | Curtiss Aerot1) Curtls Pub (6).. Cushmann pf(7) Cushmann pf(8) Cutir-Ham (3% ) Davison Chem.. Deere&Co pf(7). Del & Hud(9)... Del L & W(17).. Den RG Wn pf.. Detroit Ed(8). .. Devoe&R 181(7). Diamond M (8). Dome Mines1). Domin Stores(3) Diug Inc(s).... Dunhili Int (3 Dupont (t4%8).. Du Pont debi6). 116y Dua Lt 1st(5)... 100% Durham Hos.... 6 Durham Hos pf. 42 Eastman (18)... 171 Eaton Axle (3)., 61 Elec AutoL t4%. 150% Electric Boat.... 13% ElecPow&Lt(1). 634 Elec PELLDI(T) 106% Elee Stor B (5).. 78% Em Brantgm(A) tind-John(6).... 69 Eng PubSer($1). Z49% Eng PuSpf(6). 92% Equit Bldg(2%) 38 1651 Am Shipbldg(8). Am Sm&Ref(4). Am S & Rpf(1). 135 135 Eureka Vac (4).. EvansAu L $2%. High 16214 BBTa 1411 1 6 35% 95 120% 110% 60% 55% 121 188 121 65% 256 115 145 91y 46% 108 64ta 167% 116 100y 3 4 64% 106% 9% 11y 69% 50 Low. Clese. t 151% Kels Kels Kelvinator Corp Kendall pf (16% <ennectt (5)... { Kinney (G R) KKolster Radio. Kraft-Pho(1%). Kraft pf (6%4).. Kresge (1.60)... | Kresge Dept 8. KressSH (1)... Kreuger&T 1.34. Kroger Gro(el). 601 22% Lago O11 - Lambert Co (8) . Leh Por Cmt 234 Lehigh PC pf(7) Lehizh Val Coal Leh Val C pf(3). LehighVal(3%). Lehn & Fink(3). Lig Myers(t5).. Lig & Myrs B 16 Lig & Mp2(7).. Lima Locomtve. Link Belt (2.40). 2%, | Liquid Car t4% . 6% | Liquid Car(rts). 18 |Loew's (13). .. 113, | Loew's pf xw6 14 62t | LofL. A 51% | Long-Bell(A 1541 | Loose-Wil 2.6 Loriilard Co Loritlard pf(7 110 22 3819 84h 51k 90 oy 1411 59ta 36% 93 a7 120% 110% 60%e 1104 60% .76, 37iy Louis & Nash(7) 140% LudlumSti(2).. 80% s Mac And(12.35). Me Call Corp(4) McCrory A(2)... McGraw Hill(2) McKeespt Tin Pl McKesson&R(2) McKsn pt A 3% Mack Truck (). . Mackay pf(4) Macy Co (e3). Mad SqGar 1%. Magma Cop (5). Mailison & Co... Manati Sugar. .. Mandel(2%) . Man Elec Suply. Man El m2g (d5) Man Shirt(2).... Maracaibo OIi... Market St prior, Marland Oil..... Malr-Rock (14). Marmon Mot (4) . Martin-Parry... Mathiesn Al (2), May Dept S(4).. Maytag (12) Maytag pf (3 Melvie Shoe 1. Mengel Co. Met Gold p 62l 121 186% 120% 64 255 15 144 9l 45% 106% 64'n 165%3 1165 116% 100% 100t 6 6 55 121 188 120% 64 265 115 145 91y 464 108 6414 167% 63% 106% 78% 1% 69 484 284 1354 137% 53 53 110 22% NEW YORK STOCK EXCHANG h. ) Received by Private Wire Direct to The Star Office 3 | Reo Mot (11).... 16 | Ritter Dent Mfg. 924 | Republic Brass. 827 | Rep Brass A (4) 28% | Kep 1 & S(4) 34% | Reynolda Spngs. 45% | Reynlds (B)2.40. 97% | RhineWE(1.93). Richfield Ofl (2). | Rio Gr Oil (k2). | Rossia Ins (n).. Rossia Ins (rts). 81% | Royal Bak P(1) | Royal D(a1.336 284 137 | Safeway (3).. Safeway pf (§).. Safeway pf (7).. St Jos Leaa.13). SIL & San Fr(8) StL&SanF pf(8) StL&Southwes StL Swn pf(5) Savage Arms(3) 95% 105% 67 Seagrave(e1.20). Sears-Roe(33%) Seneca Copper. . Shattuck FG(2). Shell Un(1.40). Shubert The(5). Simmons Co(3). Stmms, .60) Sinclair Oil 123 Sinclair pf(8) Skelly Of1(2) Snider Packg Snider PKg pf... So Po R Su t2%. South Cal Ed (2) South Dairies A. South Daliries B. South Pac(6)... South Ry (8) Souta Ry pf(5). SouRyM&O cfs ¢ Spang Chalfnt. Sparks With(3). Suvear & Co. . Spear&Co pf(7). Svicer Mfg SpicerMfg pf(3) Spiegel Co (3).. Stand Com T(1). SAG&E (3%). Std G&E pf(4). Std O of Cal(13) Std OfL NJ (12). StdO:INY (1.60 Std Plate G| Std P Glass pf.. StwartWar(3%) Stromberg (3).. Studebaker(35). Submarine Boa Sun Ofl (g1). Supertor Oll.... Superior Steel. . Sweet of Am(1). Symington. ..... Symington C1 A. <. INSTRONG MARKET STOCK PRICES GAIN. List Rebounds Ater Drastic Reaction Yesterday—Money i Is Easier. BY STANLEY W. PRENOSIL. Associated Press Financial Editor. NEW YORK, May 23—Stock prices : rebounded sharply today under the in-. fluence of easier call rates and rumors | that no change would be made in the | New York Federal Reserve Bank redis- | count rate after the close of the market. It was the announcement that the| Federal Reserve council had recom- mended an increase from 5 to 6 per cent in rediscount rates which caused yesterday's drastic reaction. Recoveries in the general list today ran from 1 to 8 points, and were dis- tributed among a wide assortment of issues. A few soft spots cropped out, presumably due to distress selling of weakened marginal accounts, but most of the leading industrials, rails and public utilities received good support. Easier Money Rate. Call money renewed at 6 per cent for the first time since March 19. There was a plentiful supply of funds available, money brokers estimating that $50,000,- 000 was being offered around midday, and the rate in the “outside market” was dropped to 5'; per cent. It was not believed, however, that the official rate would be dropped below 6, which has been the minimum rate since August 17, 1928. Maintenance of the 5!, per cent dis- count rate by the Bank of England strengthened hopes that no change would be made in the New York rate, as Wall Street believes that the two in- stitutions have an understanding re- garding proposed changes in rate, and that with sterling around the “gold import” point any advance here prob- ably will be ‘preceded by a higher London rate in order to prevent a drain on Great Britain's gold supply. Many brokers actually welcomed an increase in rate on the ground that it was better to have it over with and the uncer- tainty removed rather than to have the prospect of a high rate hang like the sword of Damocles over the market. The day's trade news continued largely favorable. ~Additional increases were announced in the price of crude oil and gasoline, directors of Packard Motors recommended a 4-to-1 stock PARIS BOURSE PRICES. PARIS, May 23 (#).—Prices were easv on the today. Three per cent rentes, 74 francs 25 centimes: 5 per cent loan, 101 francs 35 centimes; ex- change on_ London, centimes. The dollar was quoted at 25 francs 59!2 centimes. Charter to Be Extended. NEW YORK, May 23 (#).—Stock- holders of the American Telegraph & Cable Co. have authorized directors to extend for 50 years the charter under which it began grnmms half a cen- tury ago, and which would expire June 16, 1930. Property of the company is operated under lease by the Western Union Telegraph Co., which also owns 22,000 of the 140,000 outstanding shares of the company. New York 1508 H Street Oldest National 124 francs 11l | WASHINGTON Philadelphia Private Wires and Telephor MANUFACTURING THRIVES IN BALTIMORE DISTRICT Special Dispatch to The Star. BALTIMORE, May 23.—Industrial | companies operating in the Baltimore | district as a whole in the first quarter of 1929 realized one of the most profit- able periods in their history. This was particularly true of the steel industry. Steel mills here ran on a nearly 100 per cent schedule through- out the quarter and are still working practically full time. The second quar- ter has begun auspiciously and indica- tions are that business will continue in large volume for some time. Libbey-Owens Sheet Glass reports upv;r:: ellprzmn‘s trend in 1929 com- o G. M..P. MURPHY & CO. Richmond New York Stock Exchange Washington Stock Exchange Richmond Stock Exchange New York Produce Exchange New York Curb Market Copy of our “Fortnightly Review” on Request Connecticut at K Main 9600 to New York ational Metropolitan Ba Bank in District of Columbia 15th St., Opposite U. S. Treasury Before Summer —plans mature, we suggest that you call and find out how well equipped OUR TRUST DEPT. is to further the enjoy- ment of your vacation, Mexican Seab. Miami Cop (4) Mid-Cont P(3) Middle States. MlldI States ctfs.. —s Telautogrph(1). L'enn Copper(1). Texas Corpn(3). TexasGulfSul(4) Tex&P C&O (h5) . split up. Stockholders of by-products coke approved a similar plan and a 50 per_cent stock dividend was declared on Borg Warner. The only unfavorable development was the report that the Paris reparations conference was threatened with failure. Shorts began to buy back when & bear raid on Studebaker failed to affect the other motors, and Studebaker soon made up all its loss. The rise was car- ried further in the popular speculative shares and General Electric gained 10 points, Commonwealth Power 8; and Packard Motors and Columbia Grapho- phone 7 each. Radio, United States Steel, American Can and Curtiss Aero all galned from 4 to 5 points. The closing was strong. Strong buying support came into the market overnight and opening prices today disclosed a firm undertone. New York Central opened 4 points higher, Allied Chemical, 3; Westinghouse Elec- tric, 235, and United States Steel com- mon, Anaconda and International Nickel advanced a point or so. Transconti. nental Oil opened with a block of 20, 000 shares at 13%. up 4, and Radio with a block of 8,000 shares at 93, uB'Z. Some scattered liquidation came into the market presumably in response to the many. margin calls which were sent out last night. Ingersoll Rand and Burroughs Adding Machine each drop- | ped 4 points, Bohn Aluminum, Atlantic | Coast Line and Pere Marquette 2 points | or more, and a dozen or so others| yielded a point or so, including Balti- | more & Ohio, which sank to within a small fraction of the year's low. recovery in the general list was stimulated by unconfirmed reports that no change would be made in the New York Federal Reserve rediscount rate; today, and by expectations of a sub- | stantial drop in brokers’ loans. The fact | that less than 5.000,000 shares changed | h;n‘gu in ye:fin;ny". anutlchdecllne. one 5 of the most violent since the beginning e i 44 of the so-called “Coolidge market” five N Y & Harim(6) 286 4 . years ago, was accepted as proof in some NYNH&Hart(4) 97 2 1unmrs that there had been no panicky NY NH&H pf(1) 117% i S S(l!: new;'l) lfi;, liquidation of investment holdings. R S Steel (rts. % T U & Tobacco(3).. Other Gains Reported. Packard Motors. which announced a N Y Stm pf(6).. Unt Leaf Tob(3) NY Stm 1stpf 7. 111k Uni Plo 18t p£(8) 5-for-1 split up last night, quickly ran | up 4 points, as did Curtiss Aeronautical. | Norf & Wn(110) 199% 2 Univ Pipe & Rad Loy General Electric rallled 3 points, Amer- | T ican & Foreign Power, 2, and more than | . . . NorAm bl0%stk 110 Uth PAL A(e2). a score others, including General Motors, | Main 2100 925 15th St. N.W. tendance are expected to make the ai | Am Bnuff (12).. his vear as lnrge, and probably Jarger | LT o/ aya(3) . ‘hégx;'gnlxon plans have advanced' far | Am Stores (2). 4 that the bankers now know 8 L what to expect in the way of business a8 “aow ‘gt ‘3o session gisi‘;‘;‘g;‘t‘u:“fi, - | A Tel & Tel(9) 209% 210% 208is 210 TRt Gox. cashier of the Commercial | AmTelaTel(rta) 3% 4 = 3% 4 National Bank, is chairman, has just 165 1w 167 1ot announced an unusually interesting 118% 118% 110% 118% card of events. The Montauk program 140 140 140 140 will start on Thursday afternoon, June 88% 92% S84 924 20, Entll; ltzlctu‘;):'éll’:;‘"‘“ g 101 101% 101 100% . B. D. . 19% 19w 19% 19% This event will take place at 1:30 p.m. 46 46t do% 45% 10% 10% 10% 295 31} 29 30 102% 1045 102% 103% 103 1044 102 104 18% 19% 18% 19% To% 5% TAW T4k 4% 50 497 50% 4B 49% 484 49 35% 5% 34 34 11442 114% 114% 114% % 12 1% 6% 5 19% 19% 504 51 3 43% 43% 201% 203% 200% 202 01 1ol 101 101 180 181 180 181 61 61 60% 607 661 66% 5% 66 9} 91 95 102 102 102 208 240 248 5% 5% 5% 3774 a7 gy 30 29 80 190 Exchange(1%). e Foirbanks(3)... 42 42 FairbankMpf(7) 108 108 108 Fashion P(k2%) 67 67 66% Fashn Pk pf (7). 96% 9614 964 Federal M & Sm. 27 27 Fed Mot T(80e). 15% 15 Fidelity-Phoenx 95 964 Fifth Ave(64c). 10% 108 Filine's (6%). 78 a8 First N P 18t(8) 13 13 irst NatS(1%). 67 654 Fisk Rubber. ... 9% 8w Fleischman 133 T4 72 Florsheim (A).. 431 48 Follansbee 1234, 65 61 Foundation Co.. Fox Flim A(4 Frank-S pf(7) Freeport T (4 bt fIt'll in no way obligate you to inquire about this service. 3% Paid on Savings 42 Missouri Pacific. MoPacific pf(5). Mohwk Car 23 . Mont Ward 3%.. Moon Motor., Morrell & Co. ... Mors&Esk(33% ). Mother L (40c). Motion Pic Corp. Motor Meter A Motor MetA ct Motor Prod(17). Motor Whi (3).. Mullins Mfg Mullins pf (7).. Munsingwr 3% Murry Corpn(3). 90% ——N— h Motors(6). 8y 89 | Thomp J R(3.60) Tidewater AsO!l TIdWASOIpe (8} TidewatrO(80e) Tide W O1l pf(6) Tim Det Ax t.80. Timken R B (3). sob Prod (140 . Tob Prod A 1.40. Transcont Oil. Trico Prod(2% TruaxTraer 1.60 Truscon S $1.20.. TwInCItyRT (4). Twin City pr(7). - Undwd-BI F (4) 1173 119 Un Carbide 2.60. 76% 77% UnOllCand)... 484 d48% Union Pac(10).. 218% 220 Utd Alr & Trans 120 Utd Alr&Tpf(3). E£4% Utd Biscuit 1.60. 45 Uta Cigar St(1). 19 ) 95 60% 45% AmW W&EI(el). AmWWist pf(6) I am Woolen..... Am Woolen pf.. Am Writ Pa ctfs climination tennis matches at 2 p.m. ln"‘l‘he “Pop” Fleming tournament there will also be prizes for second low net, third low net and low gross scores. At 2 pm. Friday, June 21, the 18- hole tournament for the Hibbs Cup will b played. This is a medal play handi- cap event and other prizes will be awarded for low gross, low net and sec- ond low net. Tennis elimination con- tests will continue at 2:30 p.m. On Saturday morning, June 22, at 10 am., the ladies' outdoor putting con- test will be staged, and at 2 p.m. the great bankers handicap golf tournament will take place. This is an 18 consecu- tive hole event, divided into two classes. Class “A,” played for the Herbert Shan- is for players handicapped at 18, and class “B,” played for the L. P. McLachlen Cup, for players handi- from 18 to 24. There will be prizes provided in both of these SAFE FI'R*'ST MORTGAGES 106% 106% 43% 434 41 Anaconda (new) Anaconda (rts) AnacondW&C 3 Anchor Cap 2. Andes Copr (3. Archer Danls(2) Arch-Dan pf(7). Armour 111(A).. Armour Ili(B). . Armour LIl pf(7) Arnoid Con & Co Asso Apparel (4) AssoDryu(2%). Atchison(10). . Atchison p1(5) Atl Coast Li(110) Atl Guif & W1.. Atl Refg (f1%). AuasPowder(s). Atlas Pow pf(6 Auburn Auto J Ausun-Nichols. Ausun-Nich pf. Auto Sales...... Gabriel Snub A.. Gardner Motor. . Gen Am TC(34). Gen Asphalt. ... Gen Bakg pf(8). Gen! Bronze Gen Cable. . Gen Cable A Gen Glgars(4). Gen Electrle 1! GenElec sp(6! Gen GREI A 1%. Gen Gas pf A(7) Gen Gas pf B(7) Gen Mills (3)... n Mot (13.30) . Gen Mot pf(6).. Gen Mot pf(7).. Gen Out ctfs(2). (ien Ry Sig(6).. Gen Ry S pf(6).. Gen Refrac 13%. Glllette S R (5). Gimbel Bros. ... _2% | Glidden Co 11% . 77 77 | Gobel (Adolph). 67 67 70 |Gold Dust (new) Barnsdall A (3). 42% 424 43% | Goodrieh(4).... Bayuk Cgrs (2).. 92 92 92 | Goodyr T&R(5). Bayuk 1st p£(7). 101 101 101 | Goodyr 1st pf(7) 284 23% 25% | Gotham H (2%). 77 74% 75 | Gotham H pf(7). 13t 18% | Graham-Paige. . 81% 813 | Granby Min (7). 804 83 | Grand F&W (1). % 974 100% | Grand Unon. ... 120 117% 120 | Grant W T (1).. 50 48 48 |Grt North pf(5). 104% 102% 102% | Gt Nor pf cfs(5) 4 119% 1145 119% | Grt NorO(a1%). 86 834 ®6 |Grt WnSug2.80. 7% 6% 6% |Grt Wn Su pf(7) 88t 873 87 |Greene Cana($). 129 124 128 [Guif Mo & Nor... 92 91 91 |Gulf Stat Sti(4). s 3% Al 493 48% | Hack W pf(1%). 27% 656 68% | Hack pf A(1%).. 27 3% | Hahn Dept Stor., 38% 39% | Hahn DS pf 6% . 99% 40% | HamiltonWpf(6) 103 24% | Hanna M A (7). Hartmn B(1.30). Hawalfan P (2).. Hayes Body (b8) Heime pf (7)... Hersney Corp. Hershey pf(4).. HockingVal(10) Hollnd Fu(e2%) Hollander & Son Houdalle-H 1%. Household(t4). . Houston Ofl. ... 127% | Howe Sound(4). Z4% 24% 24 THIS IS ONE INVESTMENT YOU WILL WANT No matter how many dif- erent types of investment you may, employ—you will appre- ciate the safety and return from our 6% FIRST MORTGAGES Make it an investment for saving; because there is no speculative element involved— | and no risk. Nat Air Transpt. H3l. 5% Pr(7). 1054 Nat Biscuit (6). 173 Nat Cash Reg 14 109% Nat Dairy (31%) 63 at Dept Stores. 684 684 278% 2684 11w 11 80 9% 107% 107% 106 106 73, TW T6% T3% 109 109 124% 124% 35 United Corpn. Utd Corpn pt(3). Utd Dyewood. .. Utd Elec Coal. Utd Fruit (e4) Utd Paperboard. US CastIr P(3). US CIP 1st1.20. US CIP 2d 1.20.. U S Distributing U S Hoffman(4). U S Alcohol (8).. 15! US Leather. 2 U S Leathr A(4) U S Realty (5).. Nat Lead(b).... 142 Nat Lead pfA(7) 140 cap] Nat Ld pf B(6).. 118 € Ten‘l’;h finals, the winner to be awarded the Coleman Jennings Cup, | are set for Saturday. There also will be a prize for the runner-up in these matches. The Richard Hatton Cup, of- fered for the first time this year, will be awarded to the golf player making the lowest net score for 54 holes in aft- ernoon rounds of Thursday, Friday and Saturday. Chl(nzun Cox stated yesterday that the privileges of three golf clubs within easy roach of the hotel at Montauk Beach had been arranged for those at- tending the convention. Federal Trade Commission Rushed. The Federal Trade Commission had 739 applications on hand on May 1, which was the largest number since September, 1925, according to its monthly statement of work. The situation in regard to the com- mission’s chain store inquiry is some- what better than a month ago. It re- ceived 1,000 letters in April from whole- salers throughout the country in re- sponse to its questionnaire. The com- mission sent out a total of 12,000 ques- tionnaires. During the month a study of rela- tions between utility groups and serv- ice organizations was completed for six companies in New York City.” In the latter part of April work was begun in New Orleans on the Louisiana Power & Light Co. and in Chicago on the American Light & Power Co. Capitol Title Control Changes. The New York Title & Mortgage Co. has acquired a controlling interest in the Capitol Title & Guarantee Co. of ‘Washington, according to announce- ment by Eliot H. Thomson, treasurer of the local company, which was estab- lished about a year and has made ex- cellent progress since that time. William H. McNeal of New York, now represents the interests of the New York organization on the board of directors of the local company. The New York concern is one of the largest of the kind in _the country. No change is contemplated in the management of the Capitol Title & Guarantee Co., by reason of the large interest acquired by the New York company, Mr. Thomson stated. The New York organization has been insur- ing titles for the past 12 years and the local organization will continue as its representative here. Motor Output Breaks Record. Automobile production in the United States last month again_broke all rec- 08 Over a Third of & Centfiry Without a Loss e Baldwin Loe (7). 225 225 225 225 5ailo & V(8 116% 118% 116% 117% 2 p = 2% 2 Newport A ¢3).. Newton Steel(3) 104 N ¥ Alr Br(3 3% Balto & U pL(4). bang & Ar(3%). 10215 101% 46 454 93% 93% 30 2% 1% 69% 834 81 23% 23 117 115% 104% 103% 101 101 28% 274 36% 36% 116% 116 147% 145 43% 43 59% Can be bought in amounts from $250 up. Beth Steel pf(7) Bloomingdale. .. Blumnthl p£(7). BohnAl&Br t3% Hon Ami A(4 Booth Fisher} Borden Co (3)... Borg-Warnr(J4) Boston & Maine., Briggs MIgk'Co.. Brockwy Mot(4) Bkiyn-Man(4). . Bklyn-Man pf(6) BrownShoe(2%) Brunswick B(3) North Am Dl;',). 15:‘ V. NorAm Ed pf(7) 100% 0% R, g Vi o oo 8! 8 L it b oo Nash, Goodyear, Wright, Sears Roebuck and Woolworth, advanced a point or | SR LT 100 | Vanadium (re).. 84 85i4 more. Nortn Pac(6)... 99% Nor Pac cfs(6).. 99% 90| Yo% Rui ot shtn 3% £ 114 The market developed some irregu- | 9 10% 11% larity during the morning, but the main Va-CarCh 6%pf. 41 45 trend continued upward. Case Thresh- va-Car Ch pf(7) 88% 88% ing broke 23 points to a new low at 327, Vulcan Detin... 73 175 Auburn Auto dropped 7 and A. M. Byers Vulcan Detin(A) 73 78 3%. On_the other hand, American Power & Light ran up 6% points and Wabash. General Electric, American & Foreign = Power and New York Central extended their to 4 points or more. Of1 Well Supply. 21% Oliver Farm Eq. Oliver conv (3).. Oliver pf A (6).. 96 96 Omnibus. ... . 814 Otis Elev pf(6).. 124 Otis Steel....... 39 Otis Stipr pf(7) 100 100 o Pac Coast 1st.... 38 21% 21% 44 4T 56% 58% 36% 484 63% 27% THERE IS NO. SUBSTITUTE FOR SAFETY Walworth(1.20). Ward Baking (A Ward Baking B. Ward Bak pf(7). ner Bros Plo Warner Bros Pic Warner pf(2.20) Warner-Qu(2).. V“V,lrrn Bros (16) CHICAGO DAIRY MARKET. CHICAGO, May 23 (#)—Butter— Lower; receipts, 6,800 tubs; creamery, extras, 42; standards. 42; extra firsts, 41a41l;; firsts, 391584012; seconds, 38a 39. Eggs—Lower; receipts, 26,861 cases; extra firsts, 31a31'5; firsts, 3015; dinary firsts, 2815a30; storage packed firsts, 32; storage packed extras, 32!5. Poultry, alive—Firm; receipts, 2 cars; fowls, 31a3« Your Nipa Palm One tree gives the Malaysians food, drink and shelter. Grateful for its bounty, they hold village festivals in its shade; and praise their deities for the generous gift. Leaves to thatch their huts, seeds to eat, wine from the sap—all eome from the Nipa Palm. No wonder the Malaysians are grateful. Bush Ter pf(7).. Butte Cop & Zing Butte & Sup(2). Butterick Co. 30% 304 30% i ) Wesson Ol (2) RIS Wesson O pf (4) W Penn El A(7). W Penn El pf (§) W Penn Kl pf(1) West P Po(6). .. West P Po pf(7) ‘West:Vaco (2).. West DalryA(4) West Dairy B. ‘\,:’Velln Dairy rts. 138 By-Prodcts 12%. 126 Paramount-F-L Park & T11(33) .. Park Utah(80¢). Pathe EX....... Pathe Ex(A). Patino M (3.39) Peerless Motor.. Penick & Ford.. Penick&F pf (7). Penn Dixie Cmt. PennRR (4)... Penna RR (rts). 1 Pere Marq (18).. 1556 Pere M prior(6). 8% Pet Mjlk (1%).. 33 Phelps-Dodg (. 64 !Pnis& RC& Phil Morris(1).. Phillips-Jon(3). Phil-Jones pf(7) Phillips P (1%). Phoenix Pierce-Arrow. .. Plerce-Ar pf (6) Plerce Otl....... Plerce Petrolm. . Pillsbury (2)... Pirelll (A) 2.88.. Pitts Coal. Pitts Coal Df.... Pitts & WVa(6). Por R1coToA (7). PortoR1coTobB. Postal T&C pf 7. Postum(3)... Prairie O11&G: Prairie P L(t4). d Stl Car. P & Renn Producer: AR:\I Callf Packg (4). Calif Petrolm. a7 ey gy Callaban Zine. a. W e e Calu & Ariz(10). 1281 129 128% 1284 Cal& Hecla(4).. 39% 40 39 40 Can Dry (14%). ¥2% 83k 5213 834 Can Pacific(10). 224 225 zz3 225 Can Pac(rights) 5 5 ‘annonMills2.80 38% 39 0 Clin&kO(4). 85 85 Threshg(6) 349 349 Case Thr pf(7).. 120 120 Cavanagh-Dobbs 21 lotex Co (3)... 624 65% 62 63% Cen Aguirre(2). 38 38 87w 374 nt Alloy2).. 43% 4% 43% 43% n Ry NJ(112). 306% 306% 306's 306'% Century Rib M.. 13 g ag g Cerrode Pas (6) 9% 95% 93% 94 Cortain-teed Pro 23's 28% 23 23% ords. Reports to the Department of | Ches & Ohio(10) 208% 2108 207% 210% Commerce Show the number produced | Ches & Ohlo rts. 264 e otk was 620,656, consisting of 537,225 pas- 1‘42" n:fl ‘l‘f_ senger cars, 81,977 trucks and 1454 P léld taxicabs. This total, compared with 1o 584,907 passenger cars, trucks and taxi- bed cabs in March, the previous high rec- ord, and 410,104 in April, 1928. Production for the first four months of 1929 also set a new record. The number produced was 2,072,941, com- pared with 1378942 for the same period last year. Reports were received from 151 manufacturers in the United States. Heard in Financial District. The George A. Fuller Co. has de- clared a participating dividend of $2.68 1 share and a regular quarterly dividend of $1.50 a share on the participating prior preferred stock, as well as a par- ticipating dividend of $1.92 a share and a regular quarterly of $1.50 on the par- ticipating second preference stock, all payable July 1. Life insurance trusts will come in for a very thorough discussion at the meet- ing of the fiduciaries section of the Dis- irict Bankers’' Association tomorrow eve- ning at the Willard, the program being preceded by a dinner. Chairman Sid- dons_of the fiduciaries section expects nearly 125 bankers and insurance men » - 74% 74% 74% | Hudson Mot(5) 4% 27 Hupp Mot(f3). Ilinols Cen(7).. 133% 133% 133% 36% 37l 6% 20% 18 42% 40% 3974 90 182 indian Refining. indian Refg ctfs Indust Rayon. .. Ingersoll R t5% . Inland Stl (3%). Inspiration C(4) InterboroRapTr. InterconRubber. Internat Agri... Intl Bus Ma (6). Int Cement(4).. Int Com Eng(2). int Comb pf (7). You can plant a seed which will grow and spread its branches, giving you the shelter and security the Nipa Palm gives the Malaysians. A small saving fund, placed in the 6% First Mortgage Notes offered through Swartzell, Rheem & Hensey Com- pany, will build for you a succes- sion of regular, assured interest pay- ments, leading to an independent in- come in future years. 41% 40% 102% 101% 107% 105% 140 140 804 T9% 2 4% 45% 267 White SM pf(4). Wilcox Ol & G.. | Wilcox (A) 23.. Wileox Rich B. . Willys Ov ¢1.20.. Willys-Ovd pf 7. Wilson & Co.... Wilson Co pf A Wilson & Co pf. Woolworth (6) Woolworth new. Worthn Pump. Worth Pump(A) Worth Pump(B) ‘Wright Aero. Wrigey ((13 Yalé&Towne(4). 70% 70% Yellow Truck... 40 41% Young Spg f2%. 60% 61% Younxstn Sheb) 126% 127% 126% 1274 Hourly Sales on N. ¥, Market. 10:30 am.. 643.100 L 1:30 p.m. 2,63 Int Mtch pf 3. Int Mer Marin int Mer Mar pf. . Int Nick,Can 30e Int Pa&kPoA2.40. Chi M1l & St P.. Chi Mil & StP pt Chi & Nwn (4).. Chicago Pn Tool. Chi PTpf(3%). CRIRI&P (7)., CR1&PPIT). Chickasha(3)... Childs(2.40) . Christi B(1.20).. Chrysler Mot(3) City Ice (3.60).. City Stores (1), Cluett-Peab(b). Coca-cola (4)... Coca-Cola (3) 314 49% Bl 33% 52 121% 1 | Int Pa&Po pt(1) Int Preg Ink 2% . Int Prtg Ink pf 6 Int Rys Cen Am. Intl Salt(5) Intl Silver (3 Int Te! & Tel(6) Int Tel&Tel new IntTel&Tel(rts) Inter Dept S(2). Intr Dep S pf7.. IDS pfx-w (7). Intertype(f11%4) 32% Island Creek(4). 524 52% ey 143% 143% 141 170 170% 167% 121% 121% 121'% 4% 9 8% These First Mortgage Notes, backed by our record of over SIXTY YEARS WITHOUT LOSS TO AN INVES- TOR, are sold in denominations as Tow as $100. Underwriters - Distributors INVESTMENT SECURITIES 121% 124% 74 2 8 6% 130 97 . WasHINGTON Orrice 737 15th Street N. W, Telephone, National 1053 60% 60% 125 125 48 Pure OI1 (1%).. . b3% 53% A Pure Ol pf(8).. Purity Baking 48 52% H24 96 96 60 2814 112 1174 Jewel Tea 16 Jonns-Manvi 3 e 63% | Jones&Lau pf 8% 76 77 | Jordan Motor. 107 107 106% 68% 76% 68% 75 149 151% 1484 151% 46% 47 45 46 96 96 96 96 Com Inv Tr($4). 137 137 135% 136 Com Inv (war).. 36% 37 86 37 « Com Solv (h8). .« 831!s 375 = 291'4 378 112 117% 117% e Radio Corpn. ... RadioCo pf(3%) Radlo pf (B).... Radio-Keith(A) ReadingRy(4).. 2% 1170 SWARTZELL, RHEEM & HENSEY CO MORTGAGE BANKERS \111 15 STREET N.W. st ST v 91 Col G&E pfA % Col Graph (35¢) . Col Carbon t4% Com Credit (2).. Com Cristpf 6% K C Po&LtB(6). 110% 110% 110% Kan City Sou(5) 81 81 81 Ksufmn DS 1%. 26% 254 264 Kayser J(5).... 804 Hl% 80% Keith-Al pf(7).. 100 « 100 " 100 Kelly-Spring... 5% 1% 16 g « Kelly Tire 8%t 74« 744 744 744 Remingtn-Rand, Matx Orricy « Barriuonrs in st stock. Holtsa Slear C S k% In 4 73% 3% 10 9% 24y 4 2% 10 % n oA