Evening Star Newspaper, May 27, 1929, Page 14

14 = FIN CANNBULDIG OPERATINS SHOWN . Fifth District Report Also In- dicates Increase in Re- serve Borrowings. BY EDWARD STONE. The Federal Reserve Bank of Rich- mond's latest report shows a further increase in borrowing by member banks. | The latest report also states that building operations in the fifth reserve district _in _April were 15.1 ‘per cent in excess of the same month a year ago. Retailers report business improve- ment du'ing the past few days due to the marketing of crops _earlier than usual. In Eastern Virginia thestrawberry crop will bring the largest money yeturns since, 192 The Maryland crop is also exce = lent. Complaints are general in most of ! the 12 Federal Reserve districts from the retail apparel trades, due to so much cool and wet weather,. Whole- salers report that there is ‘always a seasonal recession in their business at_this time. Most of the commerce and trade indications, however, are considered highly favorable and several of the Federal Reserve Banks are predicting a more moderate Summer let-down than usual. Bank clearings last week showed incrpases in most centers. The Georgia commissioner of agricul- ture has just issued a warning that the peach crop in that State will be the smallest for at least seven years. B. & 0. Net Income Increases. The Baltimore & Ohio Rallroad to- day reported & net railway operating income for April of $3.519,290, against $3.049.650 in April, 1928, or a gain of $424,640. % Passenger traffic was lighter than a wyear ago, but freight traffic in April showed a gain of $1,122,024. Revenues from mail and express also showed in- crease of quite substantial amounts. The company reported net railway operating income for the first four months of the present year at $12,740,- 861, against $9,337,016 in the cor- responding period a year ago, an in- crease so far this year of $3,403,845. ! Here again an increase of $4,440344 ‘was the biggest factor in the improve- ment in new revenues. Local Banker Celebrates Birthday. Vice President Wilmer J. Waller of the Federal-American National Bank, 1s receiving upon passing another birtl day; his desk being handsomely deco- rated with flowers on the important date, last Sunday. Mr. Waller has been in the banking profession for about 23 years, starting with the old American National Bank and _joining the Federal-American at the time of the consolidation of the two institutions. He is vice president of the District ‘Bankers’ Association and has taken a Very active part in the work of that organization. According to the associa- tion's established policy, he will be elected president at the coming annual convention at Montauk Point, Long Island. Lively Trading on Exchange. Trading started the week at a live- y pace on the Washington Stock Ex- change in both the stock and bond di- wvisions. Mergenthaler was the most active stock on the board, opening and closing at 10615. It figured in seven different , odd-lot transactions. { recorded three small sales at 941;. Po- tomac Electric Power 6 per cent pre- ! ferred moved at 112% and 45 shares of the 515 per cent preferred sold at 10533, ! both issues’ being ex-dividend. ‘Washington Railway & Electric sold / dn small lots at 95%, 95!> and 95%. Peoples’ Drug Stores preferred sold at | 114% and 114!,, Federal-American Co. common sold at 50 and 10 shares of | Real Estate Mortgage & Guaranty prer ferred at 7ia. Riggs National Bank stock sold at | 877, American Security & Trust at 456, Union Trust at 340 and 335, and nklin National at 170. The heaviest nd trading was confined to Washing- ton Gas 5s, Capital Traction 5s and Gas 6s, class A and B. Bankers’ Council to Meet. The council of administration of the District Bankers’ Association will meet tomorrow afternoon at headquarters. This meeting was scheduled for next Friday. but was moved forward because of the holiday on Thursday and the | probability that some bankers may be out of the city for the remainder of the week. ‘The newly established credit bureau | actually starts functioning tomorrow, May 28. Chairman Hilleary G. Hos- kinson of the installation committee - | yeports that all the details have been completed and the bureau is certain to run smoothly from the start. | _ The special committee appointed by President Robert V. Fleming to put the plan into effect includes Edward J —w.ade, vice president of the Lib- € Njlonal Bank, vice chairman; Francis €. Addison, jr., vice president of the s@curity Savings and Commer- cial Banls Charles F. Jacobson, cashier of the peetropolitan - National Bank; Frank Piflarmon, jr.. vice president of Vitmer J. Weller. the Mergants Bank & Trust Co.; H. T. Bisselle, Essistant cashier of the Riggs Nationaf#iank; J. Dann Faber, auditor of the Afgerican Security & Trust Co., and Artise: J. Linn¢ auditor of the Fed- eral-American National Bank. Heard in Financial District. Eugene E. Thompson, president of the Associated Stock Exchanges, is attend- ing an important meeting of the board of governors in Baltimore today. Jochn M. Riordon, vice president of the Bank of Commerce & Savings, passed the week end at the Cavelier, at Virginia Beach. Swift & Co. has declared the regular quarterly dividend of $2 per share, pay- able July 1 to stock of record June 10. Holders should remember that Poto- mac Electric Power first 5s mature on June 1, when they will be paid off, no further interest being allowed after that date. This is one of the most| important local bond issues that has matured in several years. No new financing is at present planned by the power corporation. Buys Land for Airport. NEW YORK, May 27 (®.—The Southern Air Transport, Inc., subsidiary of the Aviation Corporation, has ac- quired a 406-acre tract of land near San Antonio, Tex., on which it will construct an’ airport and an_all-year training school for aviators. The air- port will be known as Grosvenor Field, after Graham B. Grosvenor, Aviation Corporation president. Acquires Factory Site. NEW YORK, May 27 (®) . —Stewart- Warner Corporation has acquired a new nine-acre factory site in Chicago, across the street from its present Diversey boulevard plant. Road Contracts Planned. . NEW YORK, May 27 (#).—The Penn- ‘sylvania Highway Commission, Wall Streets understands, has or will let be- fore the end of the month contracts for 500 miles of concrete road at an es- itimated cost of $20,000,000. -4 AU Gulf& WI.. CRpltal TEnction | A Guif o ¢4). . ANCIAL. Note—The New York Stock Exchange is now operating on Eastern daylight- saving time, — Open. High. Low. Cl AbItibl Power... 391 391 38's 88% Abitibipf (6)... 79 79 79 79 Abrahm&gtraus. 108% 108% 105 105 Adams Exp(6).. 540 540 510 510 Adams Ex pf(5) 86% 86% &6 86 Adams MIIlIs(2) 30% 30% 29% 20% Adv Rumley.... 5hl 51 4844 48w Adv Rumley pf.. 60% 60% 53 654 Ahumada Lead.. 2 2 24 2% Air Redctn (13). 121% 1221 119 119 Air Way E1 (2).. 39% 39's 39% 394 Afax Rubber.... 64 64 & y Alaska Juneau.. 5% an Albany Wrap Pa 16 16 Alleghany Corp. 317 31 Allegheny rt 1'% 1'% Alleghny pf 5. 100' 100% 100% 100 Alleg pfrets 51 1005 100% 100% 100% Alited Chem. 13 279'3 269 270 Aliled Cm pf(7). 122 121 121 Allis-Chalm(7). 18 1821 184 Amerada(2).. 26 241 24% Am Agricul Chm 11% 11% 10'; 10% Am AgriChpf.. 4i 44u 43 43 Am Bank N(13). 116 11 6 116 Am Beet Sugar.. 15% Am Beet Sug pf.. 52 Am Bosch. 55 b5 Am BrSh(h1.60). B0% 604 AmBShoe pf(7). 122% 122% Am Brown Bov.. 30% 31 Am Brown Bopf 91% 92 Am Can (t4).... 132 132 Am Can pf(7)... 140 140 AmCar&Fdy(6). 93 93 Am Chicle (2)... b3 534 Am ComAl e1.60. 50 50 Am Encaus (2).. 32'% 3214 3 320 320 8184 3184 , 822 322 322 Am & For Pow 101 95% . 96 Am&For Pow 2d. 9015 B9 89% Am Hawa SS(1). s8 87 87 Am Hide & L pf. 367 36 5 Am Home P 3.60. 724 €6 Am Ice (13)..... 40% 39% Am Internatl 32, 60t: 574 Am LaFr&Foam 5% 5% 54 Am LaFrance pf 61 60% 604 Am Locomot(8). 1124 11214 1083 108!y Am Ma & Fy(4). 149 149 148 148 Am Metals(3)... 51 b1% 50 50% Am Piano. SIS g g AmP&L 108% 108% AmPo&Lt pf(6) 100% 100's AmP&Lptstab. 80 81 AmP&LtAG AmRa&Stds? AmRa&San (rts) Am Ry Ex(6). Am Republ! Am Roll M ( Am Saf Raz(10). Am Ship & Com.. Am Seating(3).. Am Sm&Ref(4) . Am S &R p(7). Am Stl Fays(3). Am Stl Fy pf(7) Am Stores (2)... Am Sugar (5)... Am Sugar pf(7). Am Sumatra(3). Am Tel & Tel(9) AmTel&Tel(rts) Am Tobacco(8 Am Tobac B(8).. Am TypeFo(8).. AmWW&EI(el) .. AmWWist pf(6) Am Woolen Am Woolen pf. Am Writ Pa ctfs AmWritP pf(3)., Am Zine. Am Zinc p! 3 Anaconda (7)... Anaconda (rts).. AnacondW&C 3., Anehor Cap 2.40. Anchor pf (634). Andes Copr (3).. Archer Danls(2) Arch-Dan pf(7). Armour Del pf 7. 8 88 Armour Iil(A) 1% 1% Armour III(B).. & 6 6 6 Armour I11 pf(7) 73 13 Arnoid Con & Co 204 204 Art Metal (1%). 27% 274 Asso Apparel(4) 50 50 AssoDryG(2%). 43% 43% As50 Oi1(2)....0 45 43 Atchison(10). 204 204 Atchison pf(6).. 101 101 Atl Coast L(110) 178% 178% 60% 60% 53ls 53% 63% 637 100% 100% 181 41 232 232 4 5% 5% 36la 36% 28 28 43% 43h 220 220 118% 118% 115 1154 1 14 65l 6bl 109 109 18 . ag 4% 4% 90 90 24 24% 734 T3 13 18 T8% 9% 93 94 118% 118% 48 48 104% 105 1121 114 454 45% 85 85 110 110 9215 924 301 307 3% 8k 42% 43% 61 61% 173 i 39k 38% 204 27 40t 114'5 114% 60 60% 46l 46 25% 25% 298 208 514 58 103 103% 115 115 b% 5% 6 7 300 30% 1234 126% 110% 110% 124 124 188 268 50 48 494 50 60 122% 122% 28 29% 90 92 125% 126 140 140 vz 92 tes (6) 101 9014 39% 57k 103 104% 1004 100% 80 81 W T 40's 40% 1% 1'a 15015 15015 a4 107 107% 62% 6214 3% 4 35 35 9% 91y 134's 1344 57 57 1z 112 70 10 M 77 108 36 36 205% 205% | 3w 3 165 165 161 162 142 142 91 92% 101% 101 19% 19% N 4 91 10 394 39% 24% 24% 9 9 99% 99% 17% 175 700 70% 47 47 110 110 45 45 32% 823 1144 1144 62% 55% Atl Refg (11%). 66l Atlas Pow pf(6). 100 Atlas Tack. 13 Auburn Auto J4. 237 Austin-Nichols. 5% Ausun-Nich pf.. 36 Auto Sales...... 29% Autostrap A(3). 43% ——B—— Baldwin Loe (7). 224 224 Baid Loco pf(7). 118% 118% Buito & O(6).... 1164 117 B&O (rights).. o 2% Bang & Ar(3%). 67 Bang & Ar p£(7) 109 Barnet Leather.. 13 Barnsdall A (2). 43% Bayuk Cgrs (2).. 20 Beacon OIl. . 24% Beecn-Nut (3) 76 Belding-Hemwy . 13% Best & Co(3).... 81 Bethlehm Stl(4) 958 Beth Steel pt(7) 118% Bioomingd: 45 Blumnthl pf(7). 105 BohnAl&Br 13% 119% Booth Fish 1st.. 4b'n Borden Co (3)... 871 Borg-Warnr(J4) 122 Boston & Maine. 924 Briggs Mgk Co.. 35% British Empire. . 3% Brockwy Motl(4) Bklyn-Man(4).. BklynUnGas(5) . BrownShoe(2%) Brunswick B(3). Brunswick Ter.. Bucyrus(1)..... Bucyrus cv(2%) Bucyrus pf(7). Buff & Susq..... Bullard (1.60).. Burns Bros(B).. Burroughs (15). Bush Term(g2) . Bush Ter de(7).. 104 Bush Ter pf(7) Butte Cop & Zin Butte & Sup(2) Butterick Co. Byer & Co.. Byer & Copf(7)., 110% By-Prodcts 12%. 126 B —— Callf Packg (4). Td% T44% 74 T4 Calit 27 27 25% 26% Callahan Zinc S i o alu & Ariz(10). 128% 128% Cal& Hecla(4).. 40 40 Can Dry (t4%). 834 834 Can Pacific(10). 222% 222% Can Pac(rights). 4% d% CannonMills2.80 39 39 se Threshg(6) 335 anagh-Dobbs Celotex Co (3)... Cen Aguirre(2). Cent Alloy2) Century R pf(7). Cerro de P'as (6) Certain-teed Pro 24%s 23 "hiss Certain-teed pt.. &9 59 60 “hes & Oh10(10) 206% 207% 206% 206% hes & Ohlorts. 26% 261 C&OCorpn(3).. 937 925 Chi & Alton..... 12% 12% Chi & Alton pf.. lu% 13 Chi Great West.. 16'» 15% Cni Gt West pf,, 46 “wi ChiMIl& StP.. 30% 28 Chl Mil & StPpf 483 46% Chi& Nwn (4).. 824 804 Chicago Pn Tool. 83' 844 ChiP T pf(3%4).. 52 51 51 CRIRI&P (7)., 119% 119% 115 115 CRI&PpI(6). 1611 10115 101% 10114 CRI&PDI(T). 107 1074 107% Chi Yel Cab(3).. 31% 30% 30% Chickasha(3). 40 40 Childs(2.40).. 45 Chrysler Mot(3 7% City Ice (3.60).. 54 City Stores (1).. 2L Cluett-Peab(b). 6814 Coca-cola (4). 1 1 Coca-Cola (3). 4T% 4TH Coliins & Alkmn. 52 52 Col Fuel & Iron. 56 57 218 4% 38 310 24% 60 88 40% 74 90% 219% 415 3815 310 24% €0 a8 40% 74 9074 15% 43% 28 46! 8013 33la 4 5215 58' THE EVENING STAR, WASHINGTON, D. €. MONDAY. MAY 27, 1929. Open. High. Low Close. Com Credit (2).. Com Ct1stpf 6% Com Crpf(1%). Com Cr pf B(2). Com Inv Tr(34). Com Inv (war). Com Solv (h8).. Com Power (14) Conde Nast(2).. Congolenm-Nair Cong Cirs (5).. Censol Cgra (7). ConCleprpf(6%) Cons Film pf(2) Cemsol Gas (3). ConsolGaspf(5) ConRRCuba pf 6 Consol Textlle. . Container (A) Contalner (B) Cont Baking A.. Cont Baking B. Cont Bak pf(8 Cont) Can (2%).. Contl Insur (2).. Contl Mot (80¢) Corn Prod (13). Coty. Inc (g2) Crossley Ra(11). Crown Cork & S. Crown Zelrbek 1 44% 96M 24% 25% 15013 40 335 170 604 217 T4 25% 1508 335 | Cruc:ble Stics). Crucible pf(7).. CubaCareSugar. Cuba Cane Su pt Cuba Company. . Cuban-Am Sug. . Cuban-A Sug pf. Cudahy Pke(®). Curtiss Aero(1). Cutir-Ham(3%) Cuyamel Fruit.. — Davison Chem.., &3 Debenhmsal.59. 36% Deere&Co pf(7). 1214 Del & Hud(9)... 1881 Del L & W(17)., 1: Den RG Wn pt.. Detroit Ed(8)... 2 Devo&Rayn(3). 47 Dev & Ray (rts). 174 Diamond M (8). 144 Dome Minest1). 9% Domin Stores(3) 46 Drug Inc(4).... 108 Dunhill Int (34). 63% Duplan Silk (1).. 224 Dupont (+4%).. 1684 Du Pont deb(6). 116 Dua Lt 15t(5)... 100 Durham Hos.... 6% e Eastman (18)... 171 171 Katon Axle (3)., 61 61 Eltingon(2%)... 2814 281§ Elec AutoL t4%. 148% 148% Electric Boat.... 134 184 ElecPow&Lt(1). 63 63 EIPo&Lt £ pd(7) 13215 1324 Elee Stor B (5).. 80 80 Em Brantgm(A) 11 11 End-John(5).... 684 684 Eng PubSer(31). 50 50 Equit Bldg(2%) 37% 3% Erie R R 704 71 Erie 1st pf . 60 604 %ureka Vac (4).. 46} 46's EvansAuL 324, 584 584 Exchange(1%).. 25 25 et Fairbanks Copt. 1l4 111 Fairbanks(3)... 4 4l Fashion P(k21) 66l 66'% FedLt&Tra$1%. 8l 8l Federal M & Sm. 215 215 Fed Mot T(800).. 15% 15% Fidelity-Phoenx. 98% 98% Filene’s pf(6%). 103 103 First N P 1st(8). 115% 115% =irst NatS(13%). 65'a Fisk Rubber.... 9% Fleisehman 3%, 74l Florsheim (A).. 49 Florsheim pf(6) 1004 Follansbee 12%. 64% Foundation Co.. Bl Gabriel Snub A. Gardner Motor.. Gen Am TC(34) Gen Asphalt. ... Gen Asph pf(5) Gen Bronze (2) Gen Cab - Gen Cable A (4) Gen Cable pf(7). Gen Cigars(4)..; Gen Electric t GenElec ap(60c) Gen G&EI A 1%. Gen Gas pf A(7) Gen G & El A(8) Gen Gas pt B(7) Gen Mills (3)... Gen Mot (13.30) . Gen Mot pf(7).. Gen Out ctfs(2). Gen Ry SIg(6). Gen Pefrac t3%. Gillette SR (5). Gimbel Bros. . Gimbl Br pf(7). Glidden Co 1% Gobel (Adolph). Gold Dust (new) Goodrich(4).... Goodrich pf(7 Goodyr T&R(5). Goodyr 1t pf(7) Gotham H (2%). Gotham H pf(7). Gothm pf exwar. Gould Coupler A Graham-Paige.. Granby Min (7) Grand F&W (1). Grgnd Unon.... Grind Un pf(3). Grant W T (1).. Grt North pf(5). Gt Nor pt cfs(b) Grt NorO(a1i4). Grt Wn Sug 2.80. Greene Cana(3). Guantanamo Su. 3 Gulf Mo & Nor.. 42 42 Gulf Stat Sti(4). 1;;;» 08% Hack pf A(1%)., 27 27 Hahn Dept Stor., 39 39 Hahn DS pf6%4. 98% 98% Hanna M A (7).. 97 97 Hartmn B(1.20). 23% 23% HavanaElRy... 9 9 HavEl Ry pf(6). 73 13 Hawallan P (2).. 63% 63% Hayes Body (b8) 60% Hersney Corp. .. 74 Hershey pf(4) 93 Hoe& Co A... 16% Hollnd Fu(e2% 36 Hollander & Son. 18% Houdaile-H 1% 45 Household( 14) 6614 Houston Oil. 82 Howe Sound(4).. 60 Hud Man(24).. 39 Hudson Mot(5). 8§34 84 Hupp Mot(3)..: 44 44% Lo 133% 134 36'x 86% 20% 20% 43la 43% 40 40 90 90 129 8715 41 274 10 3% 23% 15 18 834 834 81 Sl 120 120 60 43% 90 104'% 68 273% 1% 80 107 118% 106 1% 71 124% 4% 105 75 106% 36 81% 43 48 57% % 13 119% 102% 46 93 934 10% 28 69% 804 23 m 119 103% 100 274 374 142 3 13% 45 6614 82 60 39 Iilinols Cen(7) Ind O & Gas (2). Ind Motor Cycle. Indian Refining. Indian Refg ctfs Indust Rayon. Ingersoll R 15% Inland Stl (3%). Inspiration C(4) InterboroRapTr. Internat Agri InterconRubber, Intl Bus Ma (5). Int Cement(4).. Int Com Eng(2) Int Comb pf(7) Int Harv (2%) Int Harv pf(7) Int Mtch pf 3 Int Mer Marine.. Int Mer Mar pf.. Int Nick,Can 800 Int Pa&PoA2.40. Int Papr & Po Int Paper pf (7). Int Prig Ink 2% Int Prtg Ink pt ¢ it Salt(5)..... Int Tel&Tel new IntTel&Tel (rts) InterDept S(2).. 1D S pt3-w (7). Interiype(f11%) lowa Central Island Creek: Jewel Tea 1614 .. 1 Jonns-Manv(3).. 1 Jones Tea......, 24 24% Col & Southn(3) 103 103 102 102 Col Sou 1st(4).. 74 74 74 74 Col Gas (2)..... Ti% 176% 69% 70% Col G&E nfA(6) 106} 107'4 106'2 1074 Col Graph (35c). 71 71% 63 684 Lol Carbon t4i4. 1456 146 139 140% Jones&Lau pf 7. 121 122 Jordan Motor. 8 8 B0 X0% 61l B4l 264 Kan City Sou(5) Kan CSopf(4).. Kaulmo DS 1. 105 6214 22% 162 116 100 5% 168 60 28 143% 12% 61 132% 79 11 684% 48 375 68 59 45 56% 25 11 a1 66 80% 215 14% 92% 25914 1 9% 106% 1184 106 70 0% 124 U 100 71% 104% 35% 815 421 45% 534 73 uzy 112% 102 45% 93 9314 10% 25% 645, 80 224% 43% 116% 101% 100 25% 36% 137% 3 32% 574 27 36% 97 97 22% 80 644 264 25% Kayser J(5). Keith-Al pf(7) Kelly-Spring.. . Kelsey-Hays(2) Kelsey Hay rts Kelvinator Corj Kennectt (5)... Kinney (G R). Kolster Radio. Kraft-Pho(1%). Kresge (1.60) Kresge Dept 8., Kresge DS pf... Kress S H (1). Kreuger&T 1.34. Kroger Gro(cl). LagoOfl... Lambert Co (8).. L.ee Tire & Rub. Leh Por Cmt 2% Lehtgh PC pf(7) Lehigh Val Coal Leh Val C pf(3). LehighVaitdg). Lehn & Fink(3).. Lig Myers(15).. Lig & Myrs B 16 Lima Locomive. Liquid Car t4% . Liquid Car(rts). Loew's (13) Loew's pf (6%). 0076 aes e Loose-Wil 2.60 Loose-W 1st(7}. Lortilard Co.... Lorillard pf(7) Loulstana Ofl La Oil pf(6%4). . Louls GasA 1.75. Louls & Nash(7) 139% 140 LudlumsSti(2).. Me Call Corp(4). McCrory A(2). McCrory B(2). McGraw Hill(2). McKeespt Tin Pl McKesson&R(2) Mack Truck:6) Macy Co (e2) Magma Cop (5) Mallison & Co. Mallison pf (7). Mandel(2%).. Man Elec Suply. Man El m2g(db) Man Shirt(z).... Maracaibo Ofl. Market St prior, Marland Uil Mair-Rock (14).. Marmon Mot(4). Martin-Parry Mathieson (e2)., Mathieson pf(7) May Dept S(4) Maytag (12).... Maytag pf (3).. Melvle Shoe 1.40 Mengel Co.... Mexican Seab. Miami Cop (4) Mid-Cont P(2) Middle States. ... Mid States ctrs. Midld Stl pf $12. Miller Rubber. .. Mo Kan & Tex. . Mo K&Tex pf(7) Missour! Pacific. MoPacific pf(5).} Mohwk Car 234.. Mont Ward 23.. Moon Motor.... Morrell&Co 3.60. Mother L (40c).. Motion Pic Corp. Motor Meter A. . Motor MetA ctfs Motor Prod(17). Motor Whi (2) Mullins Mfg. Munsingwr t315 Murry Corp(k3). NEW YORK STOCK EXCHANG Sales. High. Low. Close. 81 98 154 45 2'9 15% 8274 30% 314 454 46% 1313 Tllg 26 4% R0ty u 5lly 110 2: 9y 1319 91 87% 81 55 5415 o3 81 93 15% % 214 A7 89 T84 95% 95% 13% 144 404 4l 1 1% 15 77 30 254 215 44 131y 424 At 117% 117% 26l 26% 91 91 13 o1 139% 139 B0 80t 244ty 2444 20% 20% 415 ik $ 102% 102% —N— sh Motors(6). Nat Acme (1). Nat Air Transpt, Nat Bellas H 31. Nat Biscuit (6). Nat Cash Reg 14 Nat Enamig (1). Nat Lead(b).... Nat Lead pfA(7) Nat Pow&Lt(1). Nat Radiator Nat Radiator pf. Nat Ry Mex 2d Nat Surety (5) at Tea (1%). Nevada Cop (3).. N O Tex&M (7). Newport A (3) Newton Steel (3 N Y Alr 8r(3)... N Y Central(8).. N Y C& StL(6).. N Y & Harim(5) NYNH&Hart(4) NY NH&H pf(7) N Y Ont&Westn. NY Rallways pf N Y State Rys pt N Y Sum pf(6).. NY Stm 1stpf 1., Norfolk Sou 2% . Norf & Wn(110) NorAm bl0%stk North Am pf(3). No Ger Lild 3.41. Nortn Pac(5). Norwalk Tire pf Ofl Well Supply. Ofl Well Spf.... Oliver Farm Eq. Oliver conv (3 Oliver pf A (6).. Oomnibus. ... ... Orpheum pf(8).. Otis Elev (6).... Otis Elev pt(6).. Otis Steel....... Owens-TIL G1(4) . Pacific Gas (2).. Pac Li1ghtg (3).. Pac Oll Stubs. . .. Packard Mot t5. ban-Am Petroim Pan-Amer Pet B. Park & Ti1(13).. Park Utah(80c). Pathe Ex.. Pathe Ex(A) Patino M (3.89)., Peerless Motor. . Penick & Ford... Penick&F pf(7).. Penn C&Coke Penn Dixie Cmt.. PennRR (4)...~ Penna RR (rts). Pere Marq (18).. Pet Milk (13%).. Pettibone-Mul Phelps-Dodg (3 Phila& RC& Phil Morris(1).. Phillips-Jon(3)., Philups P (1%). Phoenix Hoslery Pierce-Arrow... Plerce-Ar pf (6). Plerce Oll. Pirelll (A) 2. Pitts Coal......t Pitts Sti pf(7).. Pitts & WVa(6). Por R1coToA (7). PortoRIcoTobB... Postal T&C pf 7. Postum(3). . Prairie O11&G. Produ & Refinrs. Producers&R pf. Public Serv 2.60. Pub Serv pf(6).. Pub SE&G pf(8) Pullman Co(4).. Punta Aleg Su Pure Ol (1%4).. Pure Oll pf(8) Purity Baking 88 3315 4 178 991 111% 37 202 111% 52la 49% 98% 98 3 20 21% 98 4“4 574 95 Bl 734 315 % 39 8l 108 5% 184 757 % 155 33 138 62% 19' Jdis 62 82 3614 1014 3 &7 60% 17% 19% 42 8314 1044 108%s 79% 113 116% 88 331 440 S 8l sy 904 90% Radlo Corpn. ... RadioCo pf(3%) Radio pf (B).... Radio-Kelth(A). ReadingRy (4).. Reading 2d(2).., Real Silk Hos... Real 811k pf(7).. Reia(R)& Co.vaa 54t 79 28 105 44 75% 95 54t 9% 28% 105 44 7514 95 80 131 131 6014 6414 105's 107 43 44 T 77 3 84 37 ) 17% 174 17% 174 118 118 4i% 4dy 51 51 543 56 85 87y 815 8514 824 40% 0% 50w bl 168' 16813 105% 105 62 621n 30% 30% 400 40% 46 46 143 1 140% 1404 AT 4T % 1% 20 oy 1% 1% 120 120 18 118 66% 67 40 40% 148471481 4T 4T% 981y 98'a 42! 42Y% 180 180 182 182 296 296 9% 96% 117 117 24% 24% 4 4n 174 184 99 99 114 111% 34 34 200 201% 1084 1084 [ 49 49 95% 97 96 96% 80 204 20% 20 20 96% 96% 4l 42 541a 511y 95% 954 9" 218 70 70 828 % 123% i a8 8% 184 8514 82% 56% BT% 8l 81n 1 1 135% 135% 56 56 58w 581 10% 104 61 6l 504 50w % T 9 9% 19% 194 35 35w 15 15 50 50% 108 108 5% 5l 1T 17% %75 % 155 23 1% 581 18 14 60 394 1% 165 33 18 5814 18 14 60 394 Bdla 63 97 2644 12614 Blls Blla 34 | 34w 1014° 1014 71 558 60k 15% 1815 42 81% 9% I N Received by Private Wire Direct to The Star Office . High. Low. Close. 60% 60% 29% 25 100 9% Rels 15t pf(7 Remingtn-Rand. Reo Mot (11)..., Rep Brass A (4) 100 Rep 1 & S(4) Reynolds Spng: Reynlds (B)2.40. RhineWE(1.92). Richfield O1l (2). Rio Gr Oil (k2). Ritter Dent 214, fa Ins (n) ia Ins (1ts). Bak P(1). Royal D(a1.33 23 60% 66 814 29 B2k Safeway (3).... 159 159 StJos Leaa:13). 68 68 StL & San Fr(8) 113% 113% SUL&SanF pf(6) 91's 94'y StL&Southwest. 854 Shl avage Arms(2) 4l 4l chulte Stores. . 22 schulte pfi8) 1013 Seab Alr Lin 161 Seab Alr L pf. 20 Seagrave(el.20). 15% Sears-Roe(32%) 1510 Seneca Copper-. . 413 Shattuck FG(2). 118 Shell Un(1.40) 2815 Shubert The(6). 60 Simmons Co(3).. 83% StmmsPet(1.60) 29% Sinclair Ol t2%. 404, Sinclair pf(8)... 108 1 Skelly O11(2) 41 loss-Shef (6). 65 Snider Packg Ce 12 Snider Pkg pf... 43 SoPo R Sut2. 3974 South Cal Bd (2) 57%x 5t South Dairies A, 421y South Dairies B. 1214 South Pac(6). 1270 South Ry (8) 138% Spalding (1.60) 56 Svang Chalfot 36 Sparks With(3), 254 SparksWith (wi) 6415 Siear & Co..... Tk Spen Kellog 1.60 38 Spicer Mfg. . 5214 SplcerM{g pf(3) Spiegel Co (3) Stand Com T(1). SWG&E (3%). Std G & Epf(4). Std O of Cal(13) Std Ol NJ (12).. SUO:NY (1.60). Std Plate Gla Std P Glass pf. StwartWar(3%) Stromberg (2).. Studebaker (35). Submarine Boat. Sun Ol (g1) Supertor Oil. Superior Stel Sweet of Am(1). Symington. . Symington Cl A 100'% 15 19% 15% Telautogrph(1). Tenn Coppertl). Texas Corpn(3). TexasGulfSul(4) Tex&P C&O (b5) Tex Land Trust. Thatcnr pf 3.60. The Fair(2.40). . Tidewater AsOIll TidewatrO(80c) Tide W O1l pf(5) Tim Det Ax 1.80. Timken R B (3).. Lob Prod (1 49). Tob Prod A 1.40. Transcont O'l. .. Transue & W(1) Trico Prod(2+ ) TruaxTraer 1.60. 20%% Truscon S $1.20.. 46 Undwd-E1 F (4) 118'5 1181 Udwd-EI F pf(7) 125 125 Un Carbide 2.60. 78% 78% UnOfiCali2)... 490% 49% Union Pac(10).. 218% 218% Un Pacific pf(4). 824 824 Union Tank(5).. 132 132 Utd Alr & Trans. 120 104% Utd AIr&Tpt(3). 82 Utd Biscuit 1.60. 44 Utd Cigar St(1) Utd Cer St pt(6 United Corpn. .. Utd Corpn pf(3). Utd Dyewood. ... Utd Klec Coa 617 1 Utd Fruit (cé).. Utd Paperboard. US Cast Ir P(2). US CIP 1st 1.30. U S Distributing U S Express.... U 'S Hoffman(4). S Alcohol (8 Leather. Leathr At4) Realty (5).. Rubber..... Hub 18t pt.. Smelt(33%). Steel(7).... S Steel pf(7). U S Steel new (7) U S Steel (rts).. Unt Leaf Tob(3) Uni Pic 1st pf(3) Univ Pipe & Rad UtahCopper(16). Uul P&L Ate2). 19% 38'3 82 47 4% 48 164% 141% 1654 3ix 75 85% s s s s s s s T4 8319 T 83 82 82 100 100 1074% 107% s 1t 425 42% Valr Coal&Cpf. 46 46 Vulcan Detin... 70 70 Vulean pf A (7). 105 105 Vanadium (14 van Raalte pt Vick Chem(4) VaEl &P pf(7). 7abash........ ash pf A(5). dorfil3)... worth?1.20) Ward Baking ( Ward Baking B.. Warner Bros Plo Warner pf(2.20) Warner Pic (n)., Warner-Qu(2). . Warrn Bros (15) en F&Pine.. Wesson Oil (2).. Wesson O pt (4). W Penn ELA(7). ‘W Penn El pf (6) W Penn El pf(7) West P Po(6)... West P Po pf(7) West Vaco (2).. West DairyA(4) West Dairy B... ‘Westn Dairy rts. West Marylana. West Md 2d pf.. West Pacific. ... Pacific pf.. W U Teleg (3).. Westhse A B(2), Westinghse(4). Weston Electrla. Westn ElecA(2). White Eagle(2). White Mot (1) White Rock (3). White Sew Mach White SM pt(4). Wilcox Ofl & G.. Wilcox (A) 2% Wilcox Rich B., Willys Ov c1.20., Willys-Ovd pf 7. Wilson & Co. Wilson Co pf Woolworth (6). Woolworth new. Worthn Pump. . Worth Pump(B) 74 Wright Aero.... 127% 1287 Wrigey ((13%). 75 75 — Yale&Towne(4). 70 70 Yellow Truck... 40 40 Young Spg 12%. 60% 60% Youngsw Sh(s). 127 12 37 5713 126% 126% Hourly Sales on N. Y. Market. 10:30am.. 331900 1Zm... 1,542,200 nnual cash i Quarterly ‘or hi * Unit of trading less than 100 share 1 Partly extra, 3 Plus 4% in stock. § Plu $3 in preferred stock. 4 Plus 1/35 in stock. & Paid this year—no regular rate. b P in stock. ¢ Plus 5% in stock. d Pay- le when earned, e Payabl stock. _f Plus_10% 1in stock. in stock, h Partly stock. | stock. k Plus 1/130 shate _quarterl: stock. m Payable 1/10 share quarter United Cigar Stores common stook. B 8% o ateck e in DECLINE IN STOCK PRICES CONTINUES | Market Beaten Down in Flood of Selling After Break in Wheat. BY STANLEY W. PRENOSIL, Assoctated Press Finencial Editor. NEW YORK, May 27—A break in wheat Yutures below $1 a bushel io the | lowest level in 15 years, coupled with | the uncertainly regarding credit con- ditions. brought a flood of selling orders of many active i points. -~ Scores of stocks, including | General Motors, Montgomery Ward, | Canadian Pacific, Northern Pacific and | i the St. Paul issues, dropped to new low | 1levels for the y Stocks were freely supplied through | the final hour. driving the favorite shares to lower levels. ~General Elec- | | tric_sold at 260, where it was off 14 | points. Radio got down to 85, and| Anaconda Copper to 100. Johns Man- ville broke 12 points, while Borg War- | ner, F. G. Shattuck, Baldwin Loco-| motive and Foundation Co. all sold off | from 8 to 10 points. The closing was | weak. | Cail money renewed unchanged at 6 per cent. but a flurry to 10, or 12 was | predicted by Wednesday because of the heavy month end and holiday demands for funds. Time money rates held firm, the quotations, except for a few weeks in the deflation crisis of 1920, being around the highest levels since 1907, Pears that the low wheat prices would impair the purchasing power of | the Northwest inspired heavy selling of | the Western railroad and mail order shares. The day's business news, how- ever, continued favorable, inc'uding a series of excellent April earnings state- ments by some of the leadi s | of the country. b Heaviness at Start. The line of least resistance at the opening was still downward. A few of the popular industrials,dncluding Radio and Columbia Gas. moved against the general trend, but the initial gains were fractional. Auburn Auto dyopped 51 points, Coty 1), and Sears Roebuck 1. The uncertainty regarding Federal Reserve rediscount rates and the: pro pect of another call money “'squeeze”” this week had a depressing influence on speculative sentiment, and prices con- tinued to drift downward through the carly trading. Commonwealth Power ran up 215 points to a new high at 170, but quickly lost most of its gain. American Can and American Water Works slso forfeited early gains of 2 and 11 points, respectively. : United _Aircraft dropped 4 points, General Electric and Wilcox Rich A 3, Stewart-Warner 2 and Borg Warner, Hupp. Goodyear Rubber, Westinghouse Electric United States Industrial Alcohol and about a dozen others sagged a point or_more. New low records for the year were established in the early trading by International Telephone (new), Magma Copper, Andes Copper, Granby Copper, Anaconda Wire & Cable, St. Paul com-. mon and preferred, Kolster Radio and Brockway Motors. ‘Foreign _exchanges with Sterling cables at $4.85. Many Traders Sell Out. Many holders of stocks became dis- heartened at the consistent heaviness of market leaders and sold out their holdings when their margins became impaired, rather than provide new funds. United States Steel lost nearly | 3 points, and United Aircraft and | Wilcox-Rich B, 5 each. Atchison was down to 205'2, a loss of more than 3 points, and American Rolling Mill touched 10¢!z, the lowest since it was | listed. Call money renewed unchanged at 6 per cent. opened steady. slightly firmer Washington Ticker | By the Associated Press. ‘Time for high harvest of the an- nual tide of American dollars taken to | forelgn lands by the Nation's horde of tourists released for the Summer is now ( beginning, and preliminary calculations prove that their expenditures, running to huge totals, will make significant changes in international financial bal- ances. Americans are expected to spend abroad this year more than $801 000,000, and the consumption of goods and’ services that money represents goes a long distance foward stabilizing the business of #he whole world. “Figures are now being made up for the 1928 expenditure, and will be out in a few days,” said Dr. Ray Hall, who conducts Commerce Department re- search into international balance prob- lems. “We have concluded that tour- ist expenditures that year ran in ex- cess of 1927 totals, which were an- nounced at $770,000,000, but were prob- ably slightly over estimated. Better methods of calculation now enables us to come more closely to the actual ex- penditure made by Americans going abroad. Figures on departures to | rope for the present season are just be- ing built up. “Of course, the biggest portion of the money is going to Canada. Literally the dollar is moving on tires in the automobile traffic, and that country will receive perhaps $250,000,000 in the year from the entertainment of American isitors. About 110,000 Americans visit the West Indies annually, and though the number of tourists to Eu- rope last year dropped off a trifle, it may Tun up again this year.” 3 A European visitor from the United States spends on the average about $1,200. The Americans tripping through Canada, though their average reported expenditure does not run much above $150 apiece, number insthe millions. How seriously the tourist, frivolous or otherwise, makes for the disposition of world financial strength is just now being carefully estimated. “France will be the second or third world money power within a decade,” Julius H. Barnes, chairman of the board of directors of the United States Cham ber of Commerce, predicted in conver: ing about the point. “Her position will be attained very largely because she is becoming the dominant attraction point in Europe for the travelers of the world. Her gain on balance from this business must run to $700,000,000 annually; Brit- ish as well as American contributions to the total are growing. Her battlefields, her monuments and that great magnet, Paris, draw in the gold. “This great movement, in an era of increasing world wealth, coupled with the addition of Alsace-Lorraine to her national resources, Is going to change the complexion of world finance within the not-distant future.” BALTIMORE, May 27 (Special).—A | reduction in the Consolidated Gas Elec- tric Light & Power Co.'s industrial pow- er rates is asked in a petition filed by the Industrial Power Consumers' Asso~ ciation with the Public Service Commis- sion. ‘The petition asserts that the indus- trial power rates in Baltimore were in- creased during the war for the purpose of protecting other classes of consumers from increase which otherwise would have been necessary, and that although all other electric rates have since been reduced below the pre-war lever, the in- dustrial rates are still subject to a con- siderable portion of the wartime in- crease. ‘The members of the Industrial Power | Consumers’ Association are corporations eperating industrial plants in Baltimore, Complete Investment and Brokerage Service Copy of our “Fortnightly Review" furnished om request G. M.-P. MURPHY & CoO. Members of New York Stock Ezchange 1508 H Street Connecticut at K WASHINGTON, D. C. Telephone Main 9600 New York Philadelphia Richmond Private Wires and Telephone fo New York Consult Us Regarding Your Maturing Mortgage LONG-TERM REAL ESTATE LOANS 5Y2% We Make First Mortgages on Homes, Apartments and Business Properties in the Distriet of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue. Decatuzr 3600 on;uu Loan Correspondent, New York Life Insurance Com, \ 3 JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary | Organized 1879 49th YEAR COMPLETED b Assets .. $5,513,051.63 Surplus & Profits. ..$1,601,704.98 Subscription for the 97th Issue of Stock Being Receive(l‘ H Save Systematically in the Equitable HE Equitable’s plan of sys- tematic savings encourages thrift in a manner that if con- sistently followed will eventually lead to financial independence. Start now while you have a steady earning power. 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Scientific management has brought profits to farmers just as scientifie management of investments brings profit to those who put their money into them. Such investments are the First Mortgage Notes issued by Swartzell, Rheem & Hensey Company which have been scientifically investigated and tested and whose interest at 6% will pay the investor a regular and steady return. The benefits of this science are awaiting your service. SWARTZELL, - RuEEM & HENSEY CO MORTGAGE BANKERS 727 15 STREET N.w./ WASHINGTON D.C. )