Evening Star Newspaper, May 28, 1929, Page 13

FINANCIAL.® BRISK CURB RALLY " HALTS PRCE DROP Sales in NEW YORK CURB MARKET INDUSTRIALS. o 22 Acoustic Prod Sup Mf THE EVENING STAR, WASHINGTON, D. C. TUESDAY, Recelved by Private Wire Direst to The Star Office 553 54la g7 1812 s 3513 s " 48 nsands. MAY 28, 1929. FINANCIAL.” * 8. SHIFTING MARKET HITS BULL PARTY methods of our industrial plants,” says Fish. “Think of the paradox of the United States, the richest country in the world, leaving its wage earners alone, to WOITy and suffer the humiliations of poverty in their declining years.” ‘The New York Representative does not_believe that the present methods of dealing with the aged are at all ade- quate. He even calls the almshouse system a demoralizing and debasing in- stitution. “Let's have a constructive modern WHEAT CLOSES LOWER. CHICAGO, May 28 (#)—Slashing of | grain prices to meet world competition, | especiaily on newly harvested United States wheat, was intensified today, and July wheat 'here went below 1.00 a bushel. New low price records for every cereal traded in were established owing to continued heavy selling. As a result of fresh setbacks in prices today, how- ever, indications were seen at the finish | that new crop domestic hard Winter WEST T0 BENEFIT FROM WATERWAYS | Mississippi and Ohio Rivers Short Covering Enables Many Issues to Recover Part of Losses. Rousanas, PO Lack of Definite Trend in 5 Abiti 5 Ala Pow 5s "SI L 99% . social policy,” says this aggressive Con- | wheat for shipment by way of the Gulf lied' P 8s '30, COD 47 Stocks Shakes Confidence |gressman. of Mexico at last has reached a suffi- .. 88ia P (Copyright, 1929, by North American News- | clently low price level to compare with o 00 100 = 1 ) VAT xs . of Traders. aper Alliance. current values in foreign markets. s 103 § _————— Wheat closed nervous, 1'% to 17 net GRAIN EXPORTS. Tower: corn unchanged to 175 off; oats, 34 to 1% down: rye showing 2% to 3!y BY JOHN F. SINCLAIR. By the Assoclated Press. S56¢1a1 DIsBRIER! to) ThE Bta Grain exports from the United States {drop, and provisions unchanged to a tback of 20. o NEW YORK, May 28--“The wisest | last week were 2,545,000 bushels, com- ', person today is the one who is carry- | pared with 2,802,000 bushels for the ing his assets in cash, said one of the | previous week and 1,711,000 for the cor- Are Medium for Exten- sive Shipments. Bt N Orl Gr No RR 42N Y Invest .. 10 Noma Elec . . . 83 Nor Amer Aviation = auBucueySouuus 2 H R # BY HARRY H. BECKER. Special Dispatch to The Star. NEW YORK, May 28.—Many curb stocks today recovered partially from the effects of recent weakness in late BY J. C. ROYLE. Special Dispatch to-The Star. NEW YORK, May 28.—Waterways of the Nation, already responsible for tre- mendous developments of industry, com= R85 e Ioha Port Cem Al &5 ames pia’ 108 or Bt um Co : el el 4 Shanee Grush O A o 3 1 Outboard Motors B.. 2 Pac G&E 1st pfd.. . 268 Packard Motor n w1 6 Param Cab Mfx... 4 Parke Davis Co Frere 5 1 Atlas Plyw 5%:s '43.. 87 10 Bates Val Bag 65 '42105 B n 5s A '58.. 100 1Bell T Can 58 B '57.° 100 1 2 Boston & Me 65 M /33 100%% 4 Amer Beverage L covering for short account. Fresh de- clines early in the session broke a number of active issues into new low ground but liquidation diminished in the afternoon and the tone improved in nearly all groups. Reactions in a number of speculative {ssues reflected the cleaning out of im- pared margined accounts. Among those to register new lows were Tubize Silk in_the high-priced class, and De Forest Radio & Cable and Radio Tube among the cheaper ones. There was & renewal of active pressure in Aluminum Corporation of America, which lost 8 points before midday. For a time early in the session utilities turned upward. Electric Bond & Share, American Light & Traction, Southeastern Power and Commonwealth Edison made the best showing. but their resistence proved Jess impressive when reactionary tend- encies broke out agadn. Covering in Bendix Aviation following the declaration of an initial dividend helped the entire group for & brief spell, but all lost their early gains as the session progressed. Fokker broke more than 4 points bgfore support developed, and Bendix old was even weaker. High-priced industrials which gave further ground included ' Newmont Mining, Great Atlantic & Pacific Tea and Deere & Co. Investment Trust is- sues received better support than of late, Goldman Sachs rebounding almost 4 ints before it ran into fresh selling. B ansamerica continued to #8g. A feature of the trading was the vul- nerability of low-priced isues which have had no real sponsorship even di ing this year's advance. There was a decline in Durant Mators to the lowest price so far, and others which displayed extreme unsettlement included Pacific ‘Western Ofl, Intercontinent Petroleum and Gold Seal Electric new. Oll stocks, especially those which have ‘been most prominent this year, suffered with the rest of the list. but not to so violent a degree. Gulf Ofl of Pennsyl- vania scored a fair rally at the start, but reacted when most of the others re- traced their gains. Cities Service issues held close to the previous closing throughout. Baltimore Markets Bpecial Dispatch to The Btar. BALTIMORE, Md.,, May 28—Pota- toes, white, 100 pounds, 1.00a1.40; new potatoes, barrel, 2.75a5.75; sweet pota- toes, bushel, 1.25a2.25; yams, bushel, 1.50a2.00. Asparagus, dozen, 1.00a3.25; beets, crate, 150a1.75; beans, 1, 1.00a2.00; cabbage, hamper, 50a75; carrots, crate, 2.50a3.00; celery, crate, 1.50a3.50; caulifiower, crate, 1.50a1.75; 1.50a2.50; cucumbers, lants, erate, 1.50 |. g 15 1 Amer Brit & Cont C. 18 aze §ein a5 e 1 Carnation Milk ¥ Gaterpn Praci 3 Gaco Rt 5 Celan Cor Am 4 Con Atl Sta Se: g 25 o 5 2999900 b ta El _conv pfd171% Sta El pfd ww... 82% in Store Stoc fele] E5E g Ei 1. 115 11 St s Cped i 1183 11 7 Parmelee Trans .. .. D Groc A 3 Prop Stk 24 Prud Inv. gl 3 Reynolds Metal pt pf gfl 2 Rice 8tix Dry G. 2) Rich Inc. 20 Roch Cent’ Bow ? Rofls erce Tra ber 9 Russel fe C 1 3 12t U Sc-31 Str ur V.. Int Lock & Hardw. d “fl""n’g"c' H & & Sierra Pac E 8 Sikorsky Aviatioi 29 Silica’ Gel ctfs . 1 Singer Mfg . 1Singer Mfg Lt 12 Smith Co_( 1 Sterchl B: 10 Sterling Sec D! Ling Sec Can Nat Ry Ts E '35 10813 1 Capital Ad Co 5s '33 97 ro P & L 55 o . EEEEREI N b o e = o Kk's Fifth Ave.. & Lt.. B ki) Chi 5 a 37y Y it . 94 L 96% en Ind Alc 6lis ‘44, 10312 en Laun Ma '37 99 5 00, oS A Bo 1w B ua o agns s anenRabuatBuaauns a HTTO000! SEs! - CEEE e £ 098105 a S Do sl D amomon S, o 3 1 R NI 3 2 s n e 5 p 3 -l 5 Q. 2 ) armelee Tran 6s ‘44 s Oh Ed 65A '50 ww L 8s B 52 fenn P & L 58 D '53.100 = 100 3 Peoples Lt & P 55 79 941a 1Phila E Bis '83..... 106% 104 8 5 L) # 5 18cripps E W 5'as '43 941a 118ha W & P 4%as A '67 91% 10 Silica Gel 8Yus '32... 106 3 Sloss Shef 6s ‘29 shrewdest of American bankers yes- | responding week last year. terday. He was referring to the stock market and the nervousness that has been shown there in the last few weeks. There are few enthusiastic bull leaders left at this time. Some stocks have risen, but the majority have declined in recent weeks. In fact, many. of the former leaders in the bull movement are now out of the market. They can- not solve it. Some of the more coura- geous have gone on the short end. ‘Two of the largest of the bull operators in the last year have turned in the last few weeks to the bear side. Just what this means no one can predict with certainty. The United States is so large and so rich, and the forces on the stock market so varied and wide-flung, that some pools, well organized and very powerful, are still able to operate, but they are growing scarce In recent weeks several of the strongest pools organized by unusually shrewd and successful men have lost out, because the public has shown a disinclination to move along with the pool and buy on the rise. No pool can operate successfully un- der such conditions, hence the present stalemate. * With the almost certain breakdown of the reparations conference, Premier Poincare hastens to say that it was not France who took the initiative in calling the new meeting, for France was completely satisfled with the Dawes plan and asked for nothing more. If France holds to this position— that they prefer the Dawes plan to anything else—then it looks as though Germany and France are agreed, for the moment, on international finance policy. Germany, on the other hand, knows she has certain strong points, that she can call into account to protect her international integrity. These she re- fuses to give up unless she can make a much better deal with the allies than she is liable to make at this time. . So it is evident that if France and Ger- many hold the views they do, nothing can be accomplished by continuing the conference further. The important thing now is to leave matters at the Paris conference in such shape ‘that another try can be made at the proper time, without em- barrassment to any nation. It looks as though mere billions will have to be poured back into consturc- tion and capital account to. keep up with the terrific demand for telephones over the next 10 years; that is, if the future increase at all corresponds to that of the last five years. The total number of Bell telephones in use in 1927 was 13,726,000, compared with 9,514,000 reported in 1922. This Department of Commerce figures show that wheat exported last week was 2,110,000 bushels, compared with 2,358, 000 busheis for the previous week; bar- ley, 285,000, against 85000; corn, 105,000, against 309,000; oats, 44,000, against 50,000; rye, 1,000, against none. Canadian grains which passed through United States Atlantic poris were 2,128,000 bushels, against 2,518,000 bushels, while last week’s exports of North American wheat flour were 184,000 barrels, against 198,000 barrels. MONEY MARKET. NEW YORK, May 28 (®) —Call money, firm; all loans, 6; ciosing bid, 6; time loans, firm; mixed collateral, 60- 90 days, 9%; 4-6 months, 9; prime mercantile paper, 6. Bankers' accept- ances unchanged. BOND ISSUE AWARDED. BALTIMORE, May 28 (Special). —A banking group composed of the Mer- cantile Trust Co. of Baltimore and Stein Bros. & Boyce, local investment bank- ers, was awarded the $300,000 city of Hagerstown 4!, per cent sewer bonds yesterday on a high bid of 99.31. The securities were bought on an approxi- mately 4.5315 per cent basis. Only two bids were submitted for the issue. The other was that of Alexander Brown & Sons, who offered 98.574. The bonds are due serially from 1960 to 1989. CHICAGO DAIRY MARKET. CHICAGO, May 28 (#).—Poultry, alive—Fowls easy, balance steady; re- ceipts, 3 cars; fowls, 29a31; broilers, 36a 44; Toosters, 20; turkeys, 22a30; ducks, 23a25; Spring ducks, 30; geese, 15. Butter—Unchanged; receipts, 18,207 (¢ & tubs. Egg&—!..ower receipts, 40,896 cases; extra firsts, 2915a30; firsts, 29; ordinary firsts, 27a28',; storage packed firsts, 317 ; storage packed extras, 3115, A 3 GERMAN BONDS AND STOCKS. NEW YORK, May 28 (Speclal) — . as Qer Govt Red Loan with drawing e ctfs attached per 100 R M.... 55.00 60.00 QGer QGovt Red Loan wltr'l;}uuz marks.) a5 1919, 25.00 35.00 (Quoted in" doilars’ pef thousand ‘marks.) erman Gen Elect 443s pre-war. 28.00 25.00 er) Gen Elect 4148 1 3.00 Berlin ds pre-war... Hamburg 3s. 31us & 45 bre. amburg American Line 41 .00 30.00 33.00 Frankfort a-M 48 pre-war. Munich s pre-war........ (Quoted in_doliars pes | I May ... fauly | September |~ Dard— |may . {Julv ! | Beptember NEW YORK, May 28 (Special) — | Heavy rains over a wide area of the cotton belt steadied the cotton market today and prices gained 10 to 20 points, closing at the top. [gopots were advanced 10 points to Cotton range: Op July .. Qctober December . Btock ot record. June 15 June 15 June 10 June 10 June 10 June 10 Pe- Pay- Rate.riod. able, L3175 Q July 31.75 Q July ¢ uly ¢ Intt Q July Bendix Av Cp une 2 _50¢ Extra June 2t By-Prod Coke do ... June 15 June 15 .$1.25 Q July 1 June 14 i..35c Extra July 1 Junelé Brit om- 15% Interim June 1 pd9, B coms . 157 Interim June I man & Curme Strs Co pf..$1.75 Q July Gear 30c Q Juls % & Rl $1.00 Q July Sc Mo June 17 June 1 June 20 June 20 June 15 S 533 0 et BEEE T 255ataadas £ TR | e | 1Pl S Talatatas 5 0 DOOOODOLOOOOOOOOOOO! P EE 3 535 51 g July 31 $1100 Q July 15 merce and trade, will give ‘mpetus to tremendous developments in the Middle West in the next two years. The 9- foot all-the-year-round stage is the watchword that is speeding final work on the tremendous traffic developments on the Ohio River today, which will change trade channels for a huge sec- tion of this country. The Ohio development, designed to permit passage all year round ofnvesu with a 9-foot draft, has already cost over $120,000,000. and has returned a large part of that sum in augmented production and higher pay rolls for a territory extending from Pittsburgh to the Rocky Mountains and from the Twin Cities to the gulf. This program on the Ohio was begun nine years ago and will be finished before 1929 passes into history. It will open the markets of the entire Middle and Far West to the products ot the South, of Central and South America and of Cuba and Europe at reasonable freight rates. It will permit the huge industrial centers of Ohio, West Vir- ginia, Pennsylvania, Indiana, Illinois and Kentucky to find sales in the Orfent, throughout the Southwest and the great grain-growing States of the transmississipp! region. Even now huge cargoes of manufac- tured goods are moving from the steel - ections of Pennsylvania, Ohio and Illi- ois to the gulf and ug the Mississippl to Northern points. Coal and lumgu are finding new outlets. In return cot- ton. sugar and coffec are coming back upstream. ‘The annual picnic of the Riggs Bank Club was held Saturday at the S nth Street Reservoir. Over 100 members were present and the afternoon was sEnt in athletic contests. Loans on Autos Legal Interest Our Only Charge Quick Service—Confidential UNITED LOAN CO. Rosslyn, Virgini Just across Key Bridge—Opposite Bank Consult Us First If you need money for your Real Estate financing let us have your application today. Prompt Service No Appraisal Fee The Commercial National o 8292508 883,81 u,uu._...... 8333223832338 23332 is an increase of 44.3 per cent in five years. According to the Department of Com- merce, which has made an investiga- tion of this subject, the total invest- bt 1 ment in plants and equipment at the 6 end of 1927 was $3,548,000,000, as L 63t g $5 2% 3% |eagainst $2,205,000,000 in 1923. . 48 48 48 ‘The revenues have moved up in like proportion, so that at the end of 1927 they stood at $1,023573,000, as against $665,568,000 in 1922. Of course, there are other telephones in the Nation beside those controlled by the Bell. The non-Bell telephones a2.50. Kale, el, 25a40; lettuce, bushel, 40a75; lima beans, bushel, 3.50 24.00; Onions, crate, 1.50a1.75; Spring onions, 1.00a1.25; “hamper, 1.25a2.00; radishes, ), 1.50a2.00; squash, crate, 76a1.50; spinach, bushel, 25a75; tomatoes, crate, 1.00a4.00; apples, bushel, 1.25a2.75; grapefruit, box, 2.50 a3.75; oranges, box, 2.00a3.75; straw- berries, quart, 6a24; watermelons, 30 a60. o i *Income tax free. 1Or 1-40th share of common on common. 101% 101¥% a 9712 9T 30r 1-40 share of class A on the class A e h-avwééflunau—unm New broadcasting headquarters to be built in London will cost $2,000,000. - Sonoan ! 83%3333382388-33318333 1 0% 61 13;:"', 13346 136% TaxDLPSA 11% 1145 11k ir o o 58 i = t Gorp “a B¢ 10414 ; plex Sfe Glats Lid 1% - 23% -31 e: e Sias ns Pork Giores.. 8 b 31 Westn Pow 5%s A 87 in use, however, are not keeping up A % 34% | gales in POREIGN BONDS. with the procession; in fact, there was | Ll d: : : a slight decrease in the number of the = (08, .%0. 4% same period. The number in 1927 was g 4,796,000, as against 4,832,000 five years before. Hamilton Pish, New York Represent- ative, belleves the time has come now when the United States should give | much more serious consideration to the | problem of old age pensions. Nearly | every nation in the world has made an RR 6s A exhaustive study of this problem; many | P!:_f'lal."’ PR have passed legislation to meet it. e “The United States should cease play- | ‘l{::.‘sgh-d Tves :\ 850 S8 13 ]lmx tthel "gsmtch act mdhcontr&nt‘ or gc | s east attempt to solve, the serious prob- | sphnTers QUE L AT YN B lem of old age dependency. Our wage 2 Saarbruecken 78 '35.. 99! earners are thrown out on the indus- 9 trial scrap heap at middle age, due to the high_pressure and _superefficiency | e ki e 9§§55Eg§°_s; § [e} Dairy Market. Poultry, alive — Spring chickens, pound, 35a45; Leghorns, 28a38; E‘r and thin, 25a28; old hens, 33a34; > horns, 30a32; old roosters, 18a20; ducks, 20a25; Guinea fowl, each 50al.10; pigeons, pair, 35a40. - Eggs—Receipts, LSIJ, ; native and nearby, firsts, 30a30l2; current receipts, 20222, § Butter—Good to fancy creamery, pound, 42a45';: prints, 46a47; blocks, 45a46; ladles, 35a38: store packed, 30; rolls, 33a35; dairy prints, 33a34; process butter, 38a39. [ Hay and Grain Markets. ‘Wheat—No. 2 red Winter, garlicky, spot, 1.0414; May delivery, 1.04%4. Corn—No. 2 export, May delivery, no quotations; No. 2, yellow, domestic, spot, 1.00a1.01; cob corn, 5.25a5.50. Oats—No. 2 white, domestic, spot, 56, nominal; No. 3 white, domestic, spot, e earby—90a1.00 ye—Nearby—90a1.00. ‘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 recelved. There is not enough busi- o mess passing to establish prices on the Ford M 5 i est Auto Sup A various kinds on merit at a range of Pord Mot Lbd. ..oy 87 &3 & estern Alr EXp . 14.00216.50 per ton for timothy or clover "3 Foi M 1 Forhan ay. Straw—No. 1 wheat. 12.00a13.50 per | 1 Ecrhan Co NEW YORK, May 28 (#)—Stocks ton; No. 1, oat, 12.50a13.00. ¥ ters . 33 2 | strong; Atchison up 10 to record figure. — - 1Prank (HH) 7% 87 81 At -2 3 Bonds easy; United guv,;a‘ uuvelrnmex;t ] B , improve. Curb irregular; CHICAGO LIVE STOCK MARKET| 4 icthman G BN g B & Zonite T linofs Pipe Line drops 16 points. For- CHICAGO, May 28 (P (United| ,388eh B Rl jei: Sales in eign_exchanges steady; Spanish peseta States Department of Agriculture). e upiitle b hundreds. = MINING STOCKS. touches new 192 low. Cotton higher; Hogs—Receipts, 28,000 head, including Gen Ind Mg vie! 341, Kavhee! 1 unfavorable crop reports. Sugar eas: fee. Lan 13 Com Tun & Ds 2 s T090, “Paid Tor “aromd 200-pound e o e o e ’ Real Estate Mortgage & Guaranty Corp. weights; bulk of better grades, 160-250 CHICAGO, May 28 (#).—Wheat Main 1403 Properties Behind Smith Off No. 8, Cathedral Mansions, Pitisburgh, Pa. Bonds Called at a Premium ~ = A Proof of Sound Financing 238 5’ 22 24 £ 100% 1. 121% 4 Kirport vic ss Alrpor! : ss Aero Ex) Fying 23 iss Reid Alr pfd 32 3 55 &t Shualiual 2 1 oegs % e n nion Tobacco ni Vie " BBumnsesBe Bt Buwms or R or R C ris aviland n. Haviland oi e ine SRR E B i S 2 358 &8 S o ..___. HEEaD Sot 55 o oro=GeSan tuunBEBRC awabRnanow - d. ] St eaill 38% d A.... 997 Sea by a bric: 2 ir cdadadddadaadadagaaadaaada ounpnnn Fabrics ' Eaf i “aviat o P: Avi Fi Fi d i son e S8 ! = £} H £ o B B £ H o) S85 £28 o R = & - CompPLETE FINANCING arsnson, v Ist & 2d TRUST MONEY On homes, apartment buildings and business properties. No appraisal Prompt service. CATHEDRAL MANSIONS Pittsburgh, Pa. ATHEDRAL MANSIONS is a2 modern fireproof structure located in the beautiful Shadyside residential section of Pittsburgh, Pa., at the southwest corner of Clyde Street and Ellsworth Avenue. In June, 1925, we offered an issue of 7% First Mortgage Bonds secured by this property, in the sum of $990,000. pound, 10.50a10.85: choice 300-pound 20 . " 5 weak; improved Northwest crop reports. weights at 10.35. Butchers, medium to T e Corn’ easy; bearish Illinois reports. i 5 L cholce, 250-300 pounds, '10.00810.85; id Seal i OO 0 | Cattle steady. Hogs lower. 200-250 pounds, 10.25a10.90 poundg, 10.00a10.90; 130-: —_———— i TS A GAS ENGINEERS OPEN 00007 | e el ; MEETING IN BALTIMORE 9.75a1086. Packing sows, 9. h Pigs, medium to choice, 90-130 pounds, Special Dispatch to The Star. BALTIMORE, May 28.—With over 9:25a10.50. 300 engineers and chemists attending, e 96 2 10635 104% 24 Jackson Place Cattle—Receipts, 9,000 head. Calves— T Receipts, 3,000 head: Generally steady s 3 trade; she stock slow: steers and Fi . 5912 8 - yearlings moderately active, with in- ATE 3 o ‘3% between grades predominating and bet- ter grades in fairly broad demand on shipper account. ~Early top, 14.50. Slaughter classes: Steers, good and choice, 1,300-1,500 pounds, 13.35215.00; 1,100-1,300 pounds, 13.50a15.00; 950~ 1,100 pounds, 13.50a15.00; common and medium, 850 pounds up, 11.00a13.50. Fed yearlings, good and choice, 750-950 pounds, 13.50a15.00. Heifers, good and choice, 850 pounds down, 13.00214.75; common and medi- um, 9.50a13.00. Cows, good and choice, 9.50a12.00; common and medium, 8.00 89.75; low cutter and cutter, 7.50a8.00. Bulls, geod and choice (beef), 10.25a 11.50; cutter to medium, 8.00a10.25. Vealers (milk fed), good and choice. 12.00a15.50; medium, 9.50a12.00; cull and common, 7.00a9.50. Stocker and feeder steers, good and choice (all weights), 12.25a13.50; common and medium, 9.75a12.25. ' - Sheep—Receipts, 14,000 head; open- ing slow, around 25 lower; wool lambs, 14.75; few shorn kinds, 12.75a13.00; native springers, 15.00a16.25. Fat ewes, 6.00a7.25; top, 7.75; feeding lambs nom- inal. Quotations on shorn_basis: Slaughter classes, Spring lambs, good and choice, 15.50a16.50; medium, 14.50 215.50; cull and common, 12.50a14.50. Lambs, good and choice, 92 pounds down, 12.25a13.25; medium, 11.25212.50; cull and common, 8.50a11.25; medium to choice, 92-100" pounds, 11.00a13.00. Ewes, medium to choice, 150 pounds down, 6.0027.75; cull and common, 2.50 6.00. Biggest Tobacco State. North Carolina broke 21l records for | | tobacco production for a single State | last season, with a crop of approximate- ly 500,000,000 pounds, over 20,000,000 pounds greater than the 1927-28 yield By far the major portion of the crop is . devoted to cigarett> manufacture. The State also leads all cthers in taxes paid on tobacco products. 4 art 3 Hazeltine Corp.. 4 Helena Rubenstein lker n wi.. 3Hires Ch A.......... # Household Finance pi 7 Huylers Strs of Del... 25 2 Hygrade Food Prod. 2 Insur Co N 1KROtE €O.......oooor 18 Kolster-Brandes ... 4 Lackawan Sec GO RtE SoisamINE. 6 Ma) Wi Lon B .. Bak 8 Nat Ontario ‘w 13 Nat Ont pfd.. 2 Plymouth Oil. 18 Reiter-Foster ' Oil.. 3 Rich O Cal pf 1 Woodlev P Sales SIANDARD O! MER SUBSIDIA in units. 3200 Anglo Am _Of 100 A 820 Nat Transi 100 Northern P L 1100 Ohio Ol : 100 Penn Mex duel.. UES AND FOR- RIES—3TOCKS frad 4" | umphs, 3.0023.50; South Carolina, bar- _|rel, Irish Cobblers, 6.00a6.25; old stock a4 M 1% 1% . 25 - 4 . the American Gas Association opened o aad a three-day conference here yesterday with a series of technical papers read by specialists from Chicago, Pittsburgh, Brooklyn and other citles. John H. Wolfe, chairman of the water and gas committee, which was the first group to convene, made a brief address concerning the subject, and the report of the committee was read by I. K. Peck of Chicago, after which papers were read by the following: C. J. Ramsburg of Pittsbus servations on Gas Production’ . H. Schaaf of Brooklyn, “Mechanical Gen- erators,” and E. L. Fischer of Daven- port, lowa, “Development in Bitumin- ous Coal Production.” The three-day session includes the reading of papers on chemical subjects, the water and gas committee this after- noon and three dinner meetings this evening by the chemists, the carboni- zation committee and the water com- mittee. T. A. Magill of Pawtucket, R. I, opened the session today with the read- ing of a paper on “Gas Oll Specifica- tions and Evaluations,” this to be fol- lowed by symposium on “How I Use Chemical Control.’ POTATO MARKET WEAK. CHICAGO, May 28 (#) (United States Department of Agriculture).—Potatoes —Receipts, 131 cars; on track, 96 new, 223 old; total United States shipments, 593 cars; new stock tradin® wery slow; market weak; Alabama, Texas, sacked, Bliss Triumphs, 3.50a3.75; fancy, shade higher; Louisiana, sacked, Bl ‘Tri- trading slow: market dull; Wisconsin, sacked, round whites, 8581.00; Minne- sota, sacked, round whites, 80a90; Idaho, sacked, Russets, 1.75a2.00. Germany now has 1,000,000 automo- biles, or nearly 250,000 more than a Jear ago. < Continental Trust Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 2% Premium Paid Bondholders Like many of the real estate mortgage bonds offered by The F. H. Smith Company, the issue of 77, First Mortgage Bonds secured by the Cathedral Mansions Apartment Building 'in Pittsburgh, Pa., was retired at a premium long before maturity. On June 1, 1928, the outstanding bonds of this issue were retired at 102 and accrued interest. The holders of these bonds received their interest every six months when due and had their principal returned on the call date, together with a premium of 2%. What better security for an investment can be found than real estate—land chosen with a view to future as well as present values . . . buildings that are erected - iN Tesponse “\o to a known rental demand? » THE F. H. SMITH COMPANY Investment Securities—F ounded 1873 SMITH BUILDING (815 15th Street, N. W.) WASHINGTON, D. C. Branch Offices in Other Cities