Evening Star Newspaper, May 24, 1929, Page 13

FINANCIAL." CURB ISSUES REACT IN SELLING ATTACK Market Turns Reactionary After Early Outburst of Buying Today. BY HARRY H. BECKER. Epecial Disoatch to The Star. NEW YORK, May 24.—After recov- | ering further to about the levels from which the break started Wednesday, prices developed fresh reactionary tend- encies on the Curb Exchange late in today’s session. Utilities lost practically all the forenoon gain, United Gas Im- | provement being especially s to realizing, but elsewhere de not extend beyond the previous closing levels. Power and light issues resumed their accustomed prominence, with the de- mand from professionals and for in- vestors gaining impetus as the result of the news of the formation of another large holding company. This will take over three systems, with assets in ex- cess of $1.042.000.000. American Super | Power will be the largesi stockholder, | and its securitics rose spectacularly. The | “A" stock opened up 6 points, and add- | ed as much more before midday. Th new shares, following an opening trans- action of 25.000 shares on a 3-point ad- ance, were extremely ac while the B stock soared aimost 15 points. Other strong utilities were United Gas Improvement, which crossed 200 for the first time this year; American & Foreign Power warrants, Electric In- vestors and the Northeastern and Southeastern power issues. A new high was reached by Central States Electric. Such_active industrials as St. Regis Paper, United States Gypsum, the Mar- conl issues, Great Atlantic & Pacific Tea, Deere & Co., Checker Cab and United States Freight rallied particu- larly well. There was special demand for Paramount Cab on reports of higher dividends and for Sentry Safety Con- trol, in which urgent short covering followed news that the company had obtained some highly profitable new business. The buying of International Communication stocks was in sympathy with reports that the strength of Co- lumbia Graphophone on the big board was due to foreign demand. Marconi Internaticnal was particularly well bought. Baltimore Markets Special Dispatch to The Star. BALTIM%OR!A Mdd. L{ln‘_\,'n 214de:§: tatoes, 1 unds, 1.00a1.40; v g:tatoes. 279260.00; yams, bushel, 1508 200; sweet potatoes, bushel, 1.25a2.25; asparagus, dozen, 1.00a3.00; beets, 100, 1.5021.75; beans, bushel, 1.00a1.50; cab- bage, hamper, 50a65; carrots, crate, 2.50a3.00; celery, crate, cumbers, bushel, 1.7522.75; 1.75a2.25; eggplants, crate, kale, bushel, 30a50: lima beans, bushel, 3.5024.00; lettuce, bushel, 50a85; onions, crate, 1.40a1.75; Spring onions, 100, 1.25a1.50; peas, hamper, 2.50a3.50; pep- pers, crate, 1.00a2.7: radishes, 100, 1.50a3.00; spinach, bushel, 40a85: to- matoes, crate, 75a4.25; apples, bushel, 1.25a2.75; grapefruit, box, 2.25a3.75; oranges, box, 2.00a4.0¢ strawberries, quart, 6a14; watermellons, 50a60. Dairy Market. Live poultry—Spring chickens, pound, 35a45; r»llgthorm, 30a40; thin and poor, 25a28; old hens, 35; Leghorns, 30a32; old roosters, 18a20; ducks, 20a28; guinea fow], each, 50a1.10; pigeons, pair, 35a40. Eggs—Receipts, 1,141 cases; native and nearby firsts, free cases, dozen, 30a 301 : current receipts, 20822 Butter—Good to fancy creamery, pound, 42a457:; prints, 46a47; blocks, 45a46; ladles, 35a38; rolls, 33a35; store ked, 30; dairy prints, 33a34; process tter, 38a39. Hay and Grain Prices. Wheat—No. 2 red, Winter, garlicky, spot, 1.09; May delivery, 1.09. Corn—No. 2 export, May delivery, no quotations; No. 2, yellow, domestic, spot, 1.02a1.03; cob corn, 5.25a5.50. Oats—No. 2 white, domestic, spot, 57a58, nominal; No. 3 white, domestic, spot, 55a56, nominal. Rye—Nearby, 1.00a1.10. Hay—Receipts, none. While hay is arriving here in limited quantities only, it is more than enough for the demand. which is being supplied mostly by truck from nearby points, a few carloads be- ing received. There is not enough busi- ness passing to establish prices on the various kinds on merit at a range of ;,&00!16.50 per ton for timothy or clover Y. Straw—No. 1 wheat, 12.00a12.50 per ton; No. 1 oat, 12.50a13.00. New Securities By the Associated Press. NEW YORK, May 24.—New securities offered today include: One hundred thousand shares Pilot Radio & Tube Corporation class A com- mon stock, no par value. | Thirty-three thousand shares the| ‘Winton Engine Co. common stock at $73 a share. Twenty-five thousand National Assets Corporation. Each unit consists of four sifares 7 per cent cumulative preferred stock and four shares no par common stock. Price, $125 per unit. BANKS IN BIG BUSINESS CLASS, J. H. MOORE SAYS| Maryland Bankers’ Association Told of 620 Mergers During Past Year. Special Dispatch to The Star. ATLANTIC CITY, May 24.—Assert- ing that “bigbu " in a highly spe clalized stage had come to stag and would increase as such even Iwre 50! in the next decade, Justin H. Meore of New York stressed the importance of a | thorough analytical study of general economic conditions in addressing the | Maryland Bankers' Assoclation here. Mr. Moore, an official of the Irving| Trust Co.. declared “he general devel- &pmeat of business on an expansive | scale had reached into the banking in- dustry within the last year to include it with 15 other major industries that | could be designated properly as “big | business.” | “The general trend in the banking | business,” he said, “is more and more | toward mergers, especially into smaller cities and, in some instances, rural | communities. | “During 1928 there were 620 mergers, this move to consolidate assets and | facilities of these banking institutions | zlearly indicating that bankers through- | out the Nation have taken cognizance | of the fact that ‘big business' is a| recognized fact in banking \ “This trend toward consolidation is | even more sharply defined in other branches of industry and commerce. for in the last three months 125 of these mergers have been effected. Forty-two | of that number alone involved assets | of more than $12.000000,000.” s Cfllum;t & Hecla Office Vote. BOSTON. May 24 (P).—The main offices of the Calumet & Hecla Con- salidated Copper Co.. will remain in this city. By a vote of 745404 to 700,203 of the outstanding shares of the company, stockholders yesterday rejected a_pro- Dposal to move the offices to New York, Sales NEW YORK CURB MARKET INDUSTRIALS. in hundreds. 73 Acoustic Prod ... 1 Aero Sup M{ B n.. 4 High. Low. Close. 4 13% Ainsworth MIg.. Alexander Industri lum Goods Mfg 2 Alum Indus 2Alum Ltd. . ... 30Am & For Pow 1 Amer Beverage. ... 1'Amer Br Bov Ei F' 1 Amer Clgar ... 25Amer Cities P&L'A 8 Amer Cit P&L B 5Am Commonw P A.. 1Am Commonw P B 13Am Cyanamid B n... m Cyanamid rts. . Amer Dept Stores Amer Dept § 1 pfd A 93 Gas & El 1 Lt & Trac Nat Gas Phenix. Sol & Clem! S&c p prd.. Sta Pub Ser A Superp A Superp B.. 1413 Amer Superp n. ' 2 Amer. Super pfd 2 Amer Super 1 pfd. 1 Anchor_Post Fence 1 Anglo Chil Nitra . 1 Anglo Nov Holdgs. . 20 Arctyrus Radio T 114 Ark Natl Gas 80 Ark Natl Gas A '3 Armairong Cork Art Metal Wks 1Asso Dve & Print.. 99 Asso ind ... 18 Amer 134 Amer i Amer 2 Amer 1 Amer 1 Amer 1 Amer 95 Amer 33 Amer on pfd’ 10l Coast Fisheries. Pruit & Sug ... as Plywood las Port Cem . uto Vo Mach .. 4A0to V Mch ev b p 3 Aviation Co of Am... 93 Aviation Corp ...... 1 Axton Fisher A . ... !4 Babeock & Wilcox 2 Bastian Blessing 1 Bellanca Aire vt 154 Bendix Avia.. 13 Beth Steel rts £ Blauners m 8 1Braz Tr 1, &P 5 Bridgp Mach. ... 4 Briges & Straiton 10 Bright Star Elec B.. 1Brillo Mfg.......... 2 Brist Myers. .. . 12 Brit-Celanese Lid 1Budd Mfe 2Budd Mfg rts. . %8 Buf Niag & E P. 2Buf Niag K EP A 1Buf N&EP pfd.... 24 Burroughs Ad Mach. 9 Bur 1 Buz: % 28 Cable Radio Tube Vi 148 Can Marconi W 6 Capital Adm A... 4Cap A A pfd 4 Carnation Miik 1 Caterpil Tract 1Geco Mfg ... 6 Celan’ Cor ‘Am 1Celan C Am n pfd. 1Celan C Am 1 pfd. 1Cont Atl'St Ser vic. 1Cent Pip Cor....... 8 Cent Pub § A 453y 12 Cent States Ei 100% 1 Cent States Ei war; . 37 1Cent Sta El 65 pfd. 115 6 Cent Sta Ei conv pid 168% 1Chain Store Stock .. 31 2 Check Cab Mfg .. 1Cit S P& L 7s pid 1Cit Mach & Tool . 2Club Alum Uten . 3 Colg_Palmol P 102Col G & E rts 15 Columbia_Pietu 45 Cons Aircraft . 45 Gons Auto Mer vic 1 Cons Aute Mer pfd 7 Consol Film .. 17 Conso] Tnstru .. . 2 Cons Theaters vic 19 Contl Diamond Fil 1 Cooper Bessemer 2Copel Prod A . 1 Crowley Milner 1 Cuneo Press ... .0 118 Curtiss Afrcrafi vie . 4 Curtiss Aero EXp ... 20 Curtiss Flying Ser: 4 Curtiss Reid Air 13 Deere & Co 10De For R C'. 43 De For R C ris 4 De Haviland n d optl wi 6 Douglas Aircraft 8 Dubllier C & 2 Durant Mot 4Duz Co A....... 10 East States Fow 24 Elsler Elec .. 372 El Bond & Sh El Invest Inc.. .. El P & L optl war. Em Pow Cor. Evans Wall Lead.. Falrchild Aviatn A dango COTp A. 4 Federal Water A 1 Ferro Enamel A 4 Fiat stk deb rts I Fiat Am............ 4 Fireman Fund' Tns. 37 Firestone Tire_.. lor "Pow & L 77 b 55 Fokker Airp Am..... 587 3, Ford Mot Co Can B 82 82 Ford Mot Co Can n 39 Ford Mot Ltd 4 Ford Can rts. o . 1Foremost Dairy pfd 1Forhan Co A... 1 Foundation For 35 Fox Theaters A.. 134 Freshman CJ 480 Freshman C 1 Garlock Pkg 1Gen Am 1In Baking . Baking p: Elec Ltd reg Fireprig n Ind Alc vie. b Ses Pul A Real&Uti RI&Ut Cor >f« 1Gilbert (A C). 2Glen Alden Coal. .. 2 Gold Seal Elec.... 2¢ Gold Seal Elec 7 50 Goldman Sachs n 1Gorham A .. 1 Gorham ptd 50 2 Granam s &% 34 Gotham Knitbac Mac 10!z 10 Gramoph Co Ltd rcts 841 3 Granite City Steel 42 114 GI A&P T C non- 1 Greenf Tap & Die . 4 Grlan Grunow n 1Ground Grip Shoe . 3 Giraian Pire 1 Han"Lamp 4 Habou © BF A ap, 33 Hayrdre Corp. - 11 Hazeitine Corp ...... 5 Helena Rubenstein . 3Levden Cnem o 96! 96!a 10874 105%4 105% 137 13% 814 8 & 66 i prd. Peugs. o Gne tfhvaruscesmume. on. ghbepn=y P IR e et bt s e o woe 285 i 1Household Finance ofd 1 Huglers Strs of Dsl 231Ind Shares A 2Intl Perfume 1Intl Prod 12Intl Project 1Intl Rwy vic 21ntl Sar Raz B 11ntl Bhoe. - 29 Intern’ ULl B 1Investors Equity. 11 Irving Air Chute 11tal Superpow A 1 Johnson Mot 7 Keystone _ Atreraft.. 6 Kleinert FRubber. 3 Kobacker Stores. 5 Kolster-Brandeis 3 Lackawan Ser ke Super C. akey Found & M.. ne Bryant. zarus 2 ath & Co Lefcourt Real 4Leh Coal & Nav.. 3 Len Coal & Nav 55 10 Lerner Stores. . 1Libb Owens 8h Gi. .. 23 Iy Tulip Cup.... 1Long Isl Lt... : 10 Louisiana Land & Ex 3 McMarr_ Stores...... & Mangel Stores. . .. 1 Manning Bow ‘A 127 Marconi Intl Mar. 18 Marc Wire Lond B.: 1 Marion Steam Shov n 26 6 Mavis Bottiing 8 10 Mayflower Assn it 2 McCord R B cfs ' ] 3 Memphis Natl Gaz. |! 18% 1 Merritt Chap & S... 28% 2 Metro Chain Stores.. 7814 2 Minne Hon Rek s 8 Minn Motive P wi... 41 3 Minn Motive P con B 10 10 Missouri Kans Pipel. 3 2 Missouri Kans Pip rts 7 Mohawk Hud Pow... 169 21 56 10 3 1 Mohawk Hud war 4 Montecat deb ris. . 1 Moore Drop Fora A.. 1 Motor Meter Gauge ' 3 1Nachman Spefid .... 63's 63% €314 2 Nathan Straus . 5 gen 20 3 Nat Aviation . L 70w 70% 70% 2 Nat Bak i 5 8 &Nat Cont Wi I ab% gsve 281 1Nat Cont prd 'wi' ' 28%, 28, 281 1 Nat Dairy Prod pfd A 103 ' 103 ° 103 20Natl Fam Strs...... 38% 31% 38% 5 Natl Fam Strs pfd... 38 38 Food Prod A Food Prod B P& L T pld. Pub Ser A" Rub_Mach. Screen .. SiwRNJIn Neisner Bros . Neptune Met Newberry J J Newberry J J'ris New Hav Cloek. N Y Auct’n N Y Invest ew York ingara res Nobiit* Sparks 3Niles Bem Pnd 8 Noma_Elec Nor Amer ‘Avjaiion North Amer Cem... 1 North Am Uil Sec 170 North Eastern Pow. ovadel As 14 i Stocks A 201l Stocks 87d. § Orange Crush.. derch ‘THE EVENING STAR, WASHINGTON, D. C. FRIDAY, MAY 24 1929.° Qutboard Motors A.. Qutboard Motors B.. 2 Querseas Securities. . 3Pac G & E st pid | 14 Pao Pow....... ... 10 4 Param Cab Mig !l 6 Parmelec Trans 13 Pend D Groc. A 13°C penney & Go 23 € Penney Tia 5 3.C penney ot Penin Onlo B4 5 < Penn O'E4 6% ptdl 93 4 enn O Ed p pfd.. . 103 3 Penn Ohio E optl war 47 8 Penn Ohio Sec 26 126 Pennrond Corp v\ 17'4 1Peop 1 & Pow' G A 8 13 Periection Stove .. léP'rry;flan Flec' 40 etrol Corp 1st HER Ko™ 21 1 Phillp Morrls A 4 Pick Bar & Co pfd 55 Biiot Radio Tu A 1 Bletee Gov 14 Bitney Bowes B 2 Pitls Pl Glass 4P'IiS Sor & Boti roct & Gamble Pridencs Co pfd Priden fnv . 100 L 2s J3Fue S P & Lpfd ..l 993 1 Rayebstos. e 16 Ralnbow Lum 18 Reliance Br & 8tl 1Rep Mot Trk ctfs 3 Reynolds Met . 29 23% 3 3012 6 Reynolds Met bt pfd 701} 20 Roch Cent Power.... 3 Roosevelt Field : 3 Root Rfg Cy pr'pfd." 283 18afe C H & Lt 194 18afe T Stat.. 9 Safe T Stat cod 3% 8t Regis Paper 18chiet & Zander 1Schulte Real Est 2002 2 Schulte Un 8¢ 31 &tr 1313 GSchulte Un ptd. ... 70 18ec Gen Am Inv ‘Bid 108 2 Segal Lock & Hard xd 1273 12 Selected Indus Inc... 31 4 Seiect Ind Inc pfd. . 93% 100 Sentry Safety Control 233 19 Serv EI vte 5 » 2 Sheafler_Pen 24 Sharon St1 Hoop n 6 Stkorsky Aviation. . 11 Silica Gel_etf: Ts Singer Mfx....... 3 Skinner_Organ.. . 12 Smith Co (AO).. i Sonatron T ; 84 Southeast P & L 18outhe P & L p pfd. 3 Southe P & L' vte 60 Southe P & L war 28ou C E B pfd 5 Sou Rovaity 13 Southw- Bell pid. 1 Southw Dairy Prod 4 Spanish & Gen rets 5 Stand Inv ....... 33 Stand Motor . 18tand Pow & Tit. 5 Starrett Corp 10 Stein_Cosmetics 1 Sterchi Bros Stores 15 Sterl Secur pfd aliot 2 Stromb Carls Tel 18tuts Mot..... 18 Swift Intl. . 28wift & Co 18yra W Mac 3 Taggert Corp 2 Tampa EI.... 3 Thermoid . o8 = 8o Thomps Starrett piy Timken De Ax pfd Tishman Realty & Tob & Allied 8... Trans Am. Transcon Afr Trans LD L P Travel Air Co. 27Tri Cont Corp 2Tri Cont Corp pfd. ! 2 Triplex Safe G Ltd.. 12 Trunz Pork Stores. .. i3 Tubl Art'S B : Tung Sol Lamp . 2Tung Sol L A ... 1 Union Amer Investing 7 Union Tobacco . ..... 1 Union Carbon pid. 8Uni Chem pr ptd Trsp. . sA U= i L & P A pfd { L & P B pid i Plece Dye Wis i Porto Rican Suj i Pub Ser : Dairy B Foll B § For Bec. reight of Dei Lines.. Rad 55555 Buann: e ol e Sysisssns i £522cgaagdadaca SasEEELe eI J W pA Exp 14 Western Air Exp ris 1 Widlar Food Frod. ... 1Wms Oilo Mat Heat. 2 Willlams (R C) & Co S Wil Low Caf. ... .. 3 Wil Low Caf pfd..." 1 Zenith Radio 4 Zonite . 21 3 831 4 1201 73 71, 78! Tly 2 4 Atz Globe C 1 Carnegie Meta 31 Com Tun & Dr n ‘ons Cop Mines . 2 Dolores Esper . 18 Fule Gold M. Lid i 0 First Natl Coppes 23Gold Coin ... o 70 Golden Center 3’ 35 Goldfield Gons 1Hecla Min . ....0 1 HolMnger Goid" . 10 Hud Bay Min & '8m 14 Mason Val .. 1 Mohawk = Min. . 3] Newmont Mining Zinc n 8 Noranda 86 Ohio Cop. . 11" 37 Premier 'y 10 Antelope_ Cop 30 Roan_Antelo Cop 38an Fran New Mex.. 11 Shattuck Denn. 3 Tonopan Belmont 3 Uni East Min. . 3 Uni Verde Exi 3 Unity Gold 2 Utah Metais 8 Wendon _Gop. 5 Yukon Gold. .. | Sales INDEPENDENT OIL STOCK! in hundreds. 4Am Maracaibo Co. 4Carib Synd.... 876 Cities Berv n 3Cit Serv pfd. B Cit Berv 1Cit Serv B ptd. 1 Colon Oil... ... 1 Columbia " Sync 46 Creole Pete....... 32 Crown Cent Peie. 8 Darby Pete... .. 9 Derby O & Ref. 13 Gulf ol Pa. 108 Inercont _ Pet 12 Leonard Oil....... 1Lion oIl 12 Lone Star G Del, 8 Magdal Synd 9 Mex Seabd. 1 Mount Gulf 7 Mount Pro 2Nat Fuel G 4New Bradford © 1New Mex Ariz Li 2N Y Peie Roy § Pac Western Oil. 14 Pandem Oil. 8 Pantepee Ofl 1 Plymouth 01l 5 Reiter-Foster Oli.... 18ait Ck Col Wi 4Salt Ck P S 2 Texon Oil & Land n. & Transc Oil pfd 4 Venezuelan Pet 3 Woodley Pet....... 2ol Sales STANDARD OIJ, ISSUE! in units. 508 O Ohio 400 Vacuum Oil 200 Anglo Am_Oil 100 Buckeye P L.. 1000 Contl Ofl .. 200 Eureka P i, 2400 Humble O % 100 Imp O Can.. 100 Ind P _L 1000 Inter_Pet " Lid. 1600 Nat Transit 2600 Onio Oil 200 Penn Mex Fuel 400 Bouth Penn O. 200 Southern P L 40008 O Ind... 3008 O Kansas 8008 O Ky n 1008 O Neb xd Sales BONDS. in thousands. 3 Abbott Dairies 65 '42 100'% 6 Abitibl P&P 55 A 53 83'% 1Al Pow 55 '56. . 101 1100 99 Am Comw 6s '44... m Gas & El 55 038 95 Pw & Lt 65 2016 1057 Roll Mill 8¢ 48 o & & 120 3;535 22 22> na 2 3 - 2, tlas Ply 5las 43 tes Val Bag 6s ‘42 11 T Can 55 A '85.. 1l Tel 55 n 1 ston Cons G 55 ' pit_Adm Co S5 * To P & L 55 '56 roP&L n.. nt States El 53 ‘48 ent Sta P&L 5138 '3 90 hi Rys cts dep 35 in St Ry 51a8 A '5: it Serv 55 '86.. It Serv_Gas 51ss it Ser Gas Pip § Cit Serv Pow 55 52, Sont’l GAE 55 A Cont'l Oil 8las ‘37 Cudahy 55 48 5350000900 onEEY aa Sudahy 51,5 37 geC Det City G 55 B Det Intl a8 62 El Paso N G 6% Emp OLR 5ias 43 Fairbanks Mrse bs Firest Cot Mil 55 '48 Firest T 5y 42 Fisk Tire 83’310 9 Garlock Pack 66 '3 EEREL LN At | =S Se S & soaBnBwealanSEaaln.. ooy MER SUBSIDIARIES—STOCKS. L1210 12103 121% 120 15 981y 8512 | Louls and future, 6.5726.65. i By-Prod - Coke.. ! Degroithotoi Bis Received by Private Wire Direct te Thy Star Office 5 Gatineau Pow 55 '56. 93's 93! 2 Giatineau Pow 65 41, 97 10 Gen Ind Alc 6las 44: 10314 10312 4 Gen Laun M 613ss ‘37 99% 99 1Gen Vend 65 '37 ... T3 12 22 Georgla Pow 85 '67... 9813 8 & Grand Tr 6'4s.'36.."7107 1Gulf Ofl Pen 85 *37.. 998 4 Gulf, Oil Pen 8s "47. 9994 10 Hood Rub_ 7s '36. 5 Houston G G 6'ax '43 84 10 Houston 6sA 43 B4 63 Ind Oil & Gas 65 '38. 11524 2 Indian PAL 55 A '§7. 97z 37 Int'l Pow Sec 75 E 57 96 12 Int'l Sec Amer 55 '47. 88 1Intersta Pow 8s '57. 90 2 Interstate Pow 63 '52. 83 3 Relun born ‘b ha elvin ‘Corp 68 & Lehigh Pow 65 A 2036 10314 103 SLibby McN & L 55 42 9113 1Long Isl Lt 65 45, .. 10413 & L 79l i . 1 Mass 5158 " . McCord Rad 6s '43 Mempiis Nat G IM Ed C P 4123 D 5 Milwaukee G 4158 1 Morris & Co Tt 24 i 11Nat P & L 65 A 2026 1031, 9Nat Pub Serv 5s '78 81%a 2Nat Rub M 66 '43 ur 1523 1Nat Trade J 65 ‘38, 899, 2 Neisner Realty 65 '48 100 6N Y P & L 418 67, 90 2 NY&For Iny 5'zs A'dd 89 1 Niagara Falls B 65 '50 105 10 Nor Sta P M 6125 "33 101% 1Oskogd Co 6s '38,... 91! 15 Pac Inves 5s A ‘48 19 Pac Wn' OIl 8138 3 Parmalee Trans 65 '44 9913 2Pen O Ed 65 A'S0 ww 10013 1Penn P & L 55 D '53100 8 Peoples [t & P 55 ‘79 94 2Phifa E 5128 "33, ... 105% 1Phila E P 8'as 720 10314 1Phila Rap Tr 0s 62.. 98 5 Pitts Conl s '49 99 3 Potomac Fd 5s F 4Qn B G&E Slas A 1Relia Bnze&Si 6% 2 Snider Pack 65 ‘32 18olvay Arer 5s A ‘41 2 Southe P&LL 65 A 2025 5 Bou Cal Ed 58 ‘81, .. 6 South Dairies 65 ‘30 4 Southw G&E 55 A ST 6 5Bouth P&L s A’ 2022 100 38tand P'& L g5 ‘57 88un O 5i.s °39 5 Bwitt & CRLL 4Texas P & L 8s '36.. 3 Thermold 65 34 ... Un Am Inv 8s A "48; 1 n Lt & Rail §ios 52 Hav '35 36 Rub 638 Rub 635 Rub 6135 f i 1 9621 1001 1 gacaqaadge: nnnnnen’ 2 < = ‘estv Chlor 815s '37. 101 estern P 8l3s A 571132 } Slas A '57 8 7.d 1320 gri Mor Ba 7s '46.. 93': 3 Baden 7s 51, . . 83 1Bank Prussia 6s '30.. 95 17Berlin C E 6'ss '50.. 91 12 Buenos Aires 7135 6 Cauca Valley 7s 5Cen B Ger St 6sA '52 5Cen B Ger St 6sB '51 6Com & P Bk 8'3s '37 1Danzig Port 6! '52. 9 5 Erc M El Mfg 6'.s '53 6 Eur Mtg & Inv 7sC '67 1Finiand R Mig 6s ‘61 7Free S8t Prus 6s 52. 5 Free St Prus 6'zs ‘51 3 Gelsen Min 6s '3 12 Ger Cons Mun 6s ‘W, 5 Hamburg E 8 2. 6 Hanover Cred 6s '31 6 Ital Superpow 6s ‘63 5 Jugosl Sta M B 7s '57 T Mehanea. “1ins E 3 Mor Bk Bosgota 7s 47 4 Mor Bk _Chile 6s '31 2 Parana 7s '57.. . 6 Ruhr Cas_6las A '53 83 10 Rumanis ‘Inst ‘76'59: 20 Russ Gov 6128 19, 1. SRuss G 6'as. 19 eis 1 48anr Basin 78 '35, 1 T8anta Fe Citv Ts ‘45 93% 58antiago 7s '49....... 98 1Sta Maranh Br 7s ‘58 83'; 38tihnes B 78 136 wa 0214 T8tinnes H 78 '46 wa 83!, 6 Uni Elec Sor 7s A '56 110 1Uni EI 8 ’f A ww '58 897, 10 Uni Ind 6 a! ‘41 . 85% 8UNi St] W Rlzs A "47 84 xd—Ex-dividend, wi—When Issued. n-New. Ww-—With warrants. — “— NEW STCCK ISSUE. NEW YORK, May 24 (#.—In con- nection with the United States Asbestos-Raybestos-Manhattan Rubber merger, it was announced today that stock tn the new company would be dis- tributed on the following basis: 1 14- 100 common shares of new company stock for each common share of United States Asbestos; 214 shares of new stock for each share of Raybestos common, and 1'; shares for each share of Man- hattan Rubber common. 9 £33 1 3 1 4 1 8 2 t 3 1 4 2 2 1 > Navy Signs 0il Contract. NEW YORK, May 24 (#).—The Navy Department has contracted with the! Union Oil Co. of California for 2,600,000 gallons of aviation gasoline for supply- ing Navy planes on the Pacific Coast, and for $4,050,000 gallons of motor fuel for general use. . Fox Quits Directorate. 'NEW YORK, May 24 (#).—William Fox, motion picture mlfn te, has re- signed as a director of the recently (onlned Ungerleider Investment Corpo- ration. MONEY MARKET. NEW YORK, May 24 () .—Call money, steady: all loans, 6 per cent; closing bid, 6 per cent; time loans firmer; mixed collateral, 60-90 days, 9%, per cent; 4-6 months, § per cent; prime mercantile paper, 6 per cent, Bankers’ acceptances unchanged. METAL MARKET. quiet; electrolytic, spot and future, 18. lron stea unchanged. Tin, steady; spot, 43.75; future, 43.87a44.00. Lead steady; spot, New York, 7.00; East St. Louls, 6.70. Zinc, spot steady; East St. Antimony, 9.00. SILVER QUOTATIONS. NEW YORK, May 24 (#).—Bar Silver, 53%s; Mexican dollars, 40! DIVIDENDS. Pay- aoie. July 15 July I» July 15 June 24 Aug. 1 July 15 July 4 o Aug. : July July July July July July July July e Btoc) Corporation. _ riod. Rate. Tecora: Am Commercial Alcoh Corp.init Q $0.40 Do stock..... EXt % Do pid Adams_ Expies: Do ptd. | Am Home ' Prod. Bush Termi Co. Do it pid. Baldwin Locomo- tive Works Do _pid... Bell Tel of Can Bore Warn Cor Do, ooias oo Do pfd June 20 June 15 June 2 June June 28 June 8 June June 23 Aug. 1 June 15 June 1 June 1 June 15 July 1 July 1 June 24 June 24 June 14 June 14 June 1 June 1 May 20 May 21 May 21 June 13 Q 8tk Q Bon-Ami Class A TOLC Do Class B Bush Terminal Bldg Co ptd.. @ 13 City Stors Co initQ .25 CrownW illiameter Q 3175 150 Pap _Co lst pl Do 2nd pfd... @ ¥ (PR OO P Q et June Dresser ' Mig ' Co Class A pt_cv. Do Class B., Elgctric Light & Power 1st pfd Q $1 Financial Invest- ing Co of N ¥ Lud . *Qstk 2% Greene 'Cananea Q $2.00 Copper Ulél.! tates Steel Q $1.00 Gepersl Ruiivay lignal Corp.. Do pid. .. HannaMA isi ot Q ’"Efi‘p'":o'éoc“' e x.em.f-‘vn Coal Corg ‘?ld N Lehi 2l Cox June June July July July July July uly une 24 July June 6 June 15 June June June 5 July 1 June1z June 1 June 1 June 15 June July July July July July July July Po o Q Nichols ** Cobper Class A...... Pet " MilK Do pfd | SwedishMa |08 Dair. T e Do 1st pfd Do _2nd prd U Gid e ga B new id:: B4 wilson&Co 'pfd. \- +180% Jul *Dividend has ¢ cash value of $0.515, 10n account of -ccurlguuons A Q 3 Q Q 8 Q s tchCo Final June June June s g 307 ::F iy NEW YORK, May 24 (#).—Copper June 20 || June 30 | | June 15 | | June 14 || June1s || 8 June 13|/ U.5. BUSINESS GAIN ONTINUED IN MAY Practically All Lines Report Maintenance of High Level of Activity. | Spectal Dispatch to The Star. | NEW YORK, May 24 —Like ship- wreck Kelly, the world’s champion flag- [ pole sitter, industry refuses to come | down. Business and industry and com- merce have all been perched on the peaks of prosperity for months, and 99 | while an early Summer slump is always expected, more as a conformatian to tradition than for any other reason, it has so far failed to materialize and there 1s no tmmediate indication that it will. The only thing likely to drag business | down from its high perch is sentiment due to uncertainty as to the money rate situation. Some feel that the increas: !in the rediscount rate, if it comes, will have a psychological tendency to % | tighten up funds and have a senti- mental effect exactly opposite to that desired by the Federal Reserve Board, which asserts it is concerned with drawing money from Wall Street and inducing it to flow into commercial channels. It is as easy end in some | cases easter to hurt business by senti- ment as by actual conditions. Forecast for May. Nonetheless, May unquestionably will show a higher general level of produc- tion, distribution and sales than any o‘her May In history, and the forward | business booked is sufficient to keep the pace steady to the end of June. What will happen after July 1 re- mains to be decided by agricultural and other conditions. In the meantime production in basic industries is high and costs are relatively low. This con- dition is being aided by the efficiency of the railroads, which is preventing delays or car shortages, and by the efficiency of labor and high buying power. Hence even if there should be a slump in the third quarter, it is likely to be of lesser proportions than that of 1928. The steel industry is at or about a capacity production. The automobile manufacturers are taking raw materials in large quantities. The sheet and tin plate units are being rushed to fill de- mands, and even the oil country goods are showing some improvement, al- though this is mainly evident in tubular goods for pipe lines. The increase in thé price of one au- tomobile in the low-priced field, al- though concealed under the guise of additional equipment, is an indication of the activity cf motor car sales. The rumored entry of a big English firm into this country is not feared at pres- ent, although the midget car m; eventually come to have an appeal. Trend in Metals Field. In_the non-ferrous metals field the trend toward the acquisition of copper and brass fabricating plants by copper companies to absorb their output has been a feature of recent developments. The market for the metals, however, is rather dull and prices are moving with- in narrow limits. The advance in the quotations of oll and oil productions is having & heartening effect on that in- dustry and so are the reports of in- creased earnings from some influential companies. ‘The curve of electric power con- sumption has again turned upward after a brief flattening out due to weather and climatic conditions, which affected the hydroelectric plants. Lum- ber orders have responded nobly to the better weather conditions. Apparel sales are doirmg excellently. The highway construction programs started in many States are absorbing a huge number of workers and are bring- ing aid to the cement industry, which has needed it rather badly at times this Spring. The tire factories are keeping three full shifts on. The chemical trades are finding their prod- ucts in strong demand and the mergers in the paint and varnish industries have strengthened an already firm position. The demand for sporting 'M:éelgon clothes and motor boats is ex ling anything of the sort ever known in this country. PR — Sinclair Refining advances Indiana gasoline 1 cent, mecting Standard's price. LOCAL MEN ON BOARD OF SEABOARD AIRWAYS ‘The board of directors of Atlantic Seaboard Airways Inc., is announced as follows: Fred R. Huettig, secretary and director, Paterson Mutual Silk Hoslery Co.; James E. Jones, vice president and eneral manager, Pocohontas Fuel Co., | Inc.; Carleton E. Moran, vice president, {and president, C. E. Moran & Co., in- vestment securities; C. L. Ofenstein, president, consulting aeronautical en- gineer and formerly chief aeronautical engineer, Department of Commerce; Edward W. Pou, member of Congress; Reuben H. Reiffin, vice president and chairman of the executive committee, chairman of board of New Standard Aircraft Corporation and president Westslde National Bank, Paterson, N. J.; | , Thomas A. Wadden, secretary, Atlantic Seaboard Alrways, Inc, and John G. Walling, treasurer and president Poto- FINANCIAL." EARNINGS REPORTED. NEW YORK, May 2¢ (#.—The In- terborough Rapid Trasit Co. reports net income for the year ending June 30, 1928, of $3,021,583, equal to $8.63 a share on the 350,000 shares, compared with $1,470,887, or $4.20 a share, for the year ending June 30, 1927. Gabriel Snubber Manufacturing Co. reports net loss of $26,878 for the first quarter, against a net profit of $91,016 for the corresponding quarter last year. The Lehigh Valley Rallroad reports net operating income for the month of April amounted to $1,150,004, compared with $1,163,646 for the same month last year. The net operating income for the first four months of the year, however, totaled $3,398,610, against $1,863,920 for the same period in 1928. DENNEY HEADS ERIE. | mac Flying Service, Inc. Capt. Ira C. Eaker, on leave of absence | from the Army Air Corps and who was | pilot of the famous Question Mark, | | has active management of the corpora- | | tion and its subsidiaries as operations manager. | WHEAT CLOSES LOWER. | CHICAGO, May 24 (#)—Persistent \semng‘ which enlarged whenever the | wheat market showed an advance, help- NEW YORK, May 24 (#).—Elartion of Charles E. Denney to the presidency | of the Erie Ralilroad in succession tc | J. J. Bernet, who is becoming president of the Chesapeake & Ohio, was an- nounced today. Mr. Denney, formerly an associate of Mr. Bernet on the New York Central, became a vice president of the Erfe in November, 1927, and is now in charge of operations. He takes his new posi- tion on June 1. Robert E. Woodruff will succeed Mr. Denney as vice president. ed force wheat prices lower today. Ex- | port_demand for “wheat from North | America continued slack, and Argen- |tina was sald to be offering wheat | abroad 5 cents a bushel cheaper. Nota- | ble weakness of corn prices, with indi- | | cations that as a result of excellent | | weather the planting of corn was being | rushed, tended also to eass down the wheat market. | " 'Wheat closed heavy, 1% lower: corn, 1! to 17 5 15 to 1 off, and provisions, 17 decline to a rise of 65, Wheat X May ity ; | September | December | G ay'! inilye | September | December Gats May . July Lo September December Rye- | May July September . 87% | COTTON CLOSES LOWER. | | | NEW YORK, May 24 (Special).— With May off the board at noon an increased quantity of cotton was for | | sale on today's market and prices broke 1a quart'r of a cent during the after-| | noon. Final quotations were 6 to 13| points lower on the da Spols were recuced 25 poin's to 19 | Cotton renge: Open May . 19,43 | T 12,63 October 1862 October 1850 1858 12.60 ht \Gon & | | — e | BOND ISSUE AUTHORIZED. | | _BALTIMORE, May 24 (Special).— | | The Public Service Commission has | | granted the Annapolis & Chesapeake | Bay Power Co. a subsidlary of the | Washington, Baltimore & Annapolis | Electric Railway, permission to issue $145,000 5! per cent first mortgage | gold bonds, series C, sinking fund. being | part of the principal amount of $1,000,- | 000 first mortgage secured by deed of trust to the Fidelity Trust Co, of Balti- more, dated June ‘1, 1928. The issue of the bonds was authorized for the “acquisition of property, for the con- struction, completion and extension of its plant and distributing system, and for the improvement and maintenance of its service. POTA'EMARKET STEADY. CHICAGO, May 24 (# (United States Department of Agriculture).— Potatoes—Recelps, 98 cars; on track, 71 new, 200 old; total United States shipments, 649 cars; new stock trading very slow, market steady; Alabama sacked Bliss Triumphs, 4.00; South Carolina stave barrel Irish Cobblers, 6.25; old stock trading fair, market firm; Wisconsin sacked Round Whites, 80a1.00; Idaho sacked Russets, 1.75a 2.00. Will Redeem Preferred Stock. NEW YORK, May 24 (&) —Stock- holders of the United Light & Power Co., have voted to redeem on July 24 all its first series of outstanding class A and class B preferred stock. | Commerz and Privat Bank | Berliner Handels. | Mercur_Bank Vienna. | Austrian A E G | Can . GERMAN BONDS AND STOCKS. NEW YORK, May 24 (8pecial) — Bld. . Asked. Ger Govt Red Loan with drawing ctfs attached per 100 R M.... 55.00 60.00 Ger Govt Red Loan without drawing ctfs per 1.000 R M _.. 28.00 30.00 (Quoted in dollars per million marks.) Hamburg 4'5s 1919.... 9 | 35 (Quoted _in" dollars German Gen Elect 4155 pre-w German Gea Elect 4155 1919 Berlin 45 pre-war 2 amburg 3s. 3'.s & 45 pre-war. burg American Line 4'33. North German Lioyd 4135. Krupp 5s 1921. ... Dusseldorf ds pre- Frankfort a-M 4t pi Munich 4s pre-war. . . : (Quoted in déliars ‘er sh A E G (German Qe Elec) : A E G (German Ge Elec) pfd S22 nolE S, 2221233335833:8 ] 2 3 T G Parben.... . Disconto Gelischatt. .. 48 R28e87 555222, Dresdner Bank Deutsche Ban: Darmstaedter Bank. Heyden Chem 84 3333233323238 ZaSRSBRRIS 333333333333 North Germen Llovd.., (Genieral Ele woue FEDERAL® LAND BAmf BOND! NEW YORK, May 24 (Special).— Bid. Asked. 90 2 o0 92 a4 o8 931y 95 45 May 1938-38 4s Nov. 1957-37 d Bank 41is Nov_ 1958 d Bark 4148 Jan. 19 Land Bank 4’as May 185,-37.000 Land Bank 4's J 56-36, Fand Bank 4 Land Bank d R: s Jan. 19430p33 < J.&J. 19330033 s J.&J. 19550p35 4135 Jan' 1956-36 4745343, 19530p33 Bank 434s jan. 19540p34 Brvk %5 July 19540034, Bank 55 May 19410p3t n 4las s 4tis 4lis s 328 las BBBBBELES 3125 Dec WE PAY Money Columbia, praised. Open dail OR Saturday MORE on your savings BUIL been conservatively ap- *7 13 —_— |BOYCE HEADS MARYLAN | BANKERS” ASSOCIATI Special Dispatch te The\ Star. BALTIMORE, May 24.—Heyward Boyce, president of ghe Drovers Mechanics National of Baltimoj was elected president of the Marylagd Bankers’ Association, meetilg at Atlafi. tic City, according to advices receivfd here yesterday. Other officers elected were n, Armstrong. _president, First Matios Bank of Hagerstown, vice predde William Marriott, cashier, Western | tional Bank, Baltimore, treasurer, J W. McElroy, vice president, First tional Bank, Baltimore, secretary. Honorary vice presidents named William Alnutt, Baltimore: Willlam Wilson, Centreville; Joseph A. Walt Annapolls; Charles E. Hilliard, Hages |town: F. P. Whitcraft, jr. Baltimo: | P. Thomas Babylon. Westminster; liam B. Spiva, Princess Anne, and H. Hellen. Solomons. | “The_committee of lamlntstnnonk | serve for the ensuing year, is compo! |of Warren F. Sterling. Crisfleld: We | ster Bell, Baltimore; Morton M. Pren Baltimore; Henry P. Turner. Eas! Tasker G. Lowndes, Cumberland, a Ridgley P. Melvin, Annapolis. e Power Output Increases. H ! | NEW YORK. May 24 (&) —April put of power of the International Pager | & Power system amounted to 366.603. 1000 K. W. H, an increase of 36 per | cent over the same month last year | The total output for the first fown months :of the year was 1.453.583.00¢ K. 'W. H, an increase of 37 per cen! over the same period in 1928. H SAFETY 13 WORTH A FEW MORE PENNIES HE real test of an Investment when you it comes want to turn into cash—you get hundred cents for every dollar { invested in HOODS. Security for Your Savings deposited used exclusively for the financing o1 ‘WITHIN the District of Have is Financed property “4 City of Homes” which has Iy 9 to 5 until noon NATIONAL P ERMANENT Y ia DING ASSOCIATION (ORGANIZED 1890) . 049 Ninth Street N.W. Just Below New York Avenue Under Supervision U. S. Treasury Dress economically on Pay in small weckly or mon STYLISH, ALL-WOOL SUITS 25 '30 ‘35 ON LIBERAL TERMS Every man can afford to dress up when he can buy a good Suit at $25, $30 or $35 on our The terms are so con- veniently arranged that you hardly miss the Liberal Credit Plan. payments. Our Spring Suits are made of fine all wool materials. They wear splendidly and have style that appeals to the men and young men our. Liberal Credit Plan. thly amounts casy to meet. of good taste. 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