Evening Star Newspaper, June 11, 1929, Page 14

FINANCIZXTL. STOCKS INUPTURN AFTER EARLY DROP <| Trading Volume Continues at Small Figure—Higher Money Expected. THE EVENING STAR, WASHINGTON, D. C, TUESDAY JUNE 11, 1929. ~Prev. 1929 High. Low. 18 113% 115% 108% Stock and Prev. Dividend Rate. Curtis Publish pf| Cushman’s pf (8) Sales— Add 00. High. 1 114% 10s 110% D 4 Davison Chem. 10 Delaware & Hud (3). 2 Del Lack & W (17) 3 Detroit Edison (8).. 1 2 Devoe & Ray A (13). 9 Devoe & Ry..June 14 11 Devoe & R1stpf (7). 3 Diamond Match (8). 150s Dome Mines (1) Dominion Stores . Drug Ine (4). ¢ Duluth S S & Atl. Duluth S S & At pf.. Du Pont de N (+412). Du Pont de (6) . . Dugquesne 1st pf (5). Durham Hosiery pf E- For Complete Compilation of Sales See ~Prev. 1920, Stock and Sales— High. Low. Dividend Rate. Add 00. High. 381 Abitibi Power &'Pap 2 39% 85 Adams Exp pf (5). 861 27 Advance Rumley.... 9 37 404 Advance Rumley pf. 7 56 4% 2 Ahumada Lead. . 2% 2 13770 95% ‘Alr Reduction (11, 18 1300 131 138% 48% 374 Airway Elec (23%)... M 5 425 421» 424 1% 141 Ajax Rubber. 6 b% & 413 Alaska Juneau. 54 12 Albany P W Paper.. 16 R 27% Alleghany Corp. BY EDWARD C. STONE. X % AllsgCorp..Ju 105% 99% Alleghany C pf (5%) Washington Gas Light stock sold at| 100% 100% Alleg’y pf wi (5%). 125 on the local stock exchange today| 305% 241 Allied Ch & Dye (6) for the first time since before the last 125 120% Allied C& D pf (7). 5 212 166 Allis-Chalm Mf (7) annual meeting. It touched 124 yes- terday, opened to- 42% 22% Amerada Corp (2) 23% 10% Am Agricul Chem day at 1241, and 73% 40% Am Agricui Ch pf... then reached the 60% 49 Am Beet Sugar pf... new high mark on 13' 40% Am Bosch Magneto. . the present move. 45 AmBrS&F (h1.60). The days sales va», 122 AmBrS&Fpf (7).. 40s 12235 12214 198 totaled only 17 15% Am Brown Bov Elec. 23 31 30% 30% shares. The mar- 49% Am Brown Bov E pf.160s 100% 100% 100% ket for the stock 151% 107% ‘Am Can (14) 461 140 134% 140 closed with 12434 142 189% Am Can pf ( 5 1404 140 140% bid and 125 asked. Am Car & Fdy (8) 6 9915 98 99 Capital Traction, 46% Am Chicle (2)....... 8 57% 554 57k which displayed 4316 Am Com Alc (k1.60). 79 51 50 50% considerakly more 332 209 AmExpressctfs(6). 1225 225 225 strength _yesterday, 138% 75% Am & For Power.... 112 1041 1024 104 was quiet today. It 1 108'% 104% Am & For Pw pf ( 4 107 106% 107 opened at 93, and closed at 93% on a total turnover of 103 88 Am & For Pw 2d pf.. 3 90 ‘10 42 24% Am Hawalian (D). 18 37 : A only 25 shares. Investors are main-| 42 30% Am Hide & Leap -1 3 3 97 “airban taining a waiting attitude in this issue 64 Am Home Prd 3.60) 2 Fash ¥ pending the next meeting of the di- 38 Amlce (13). 1 rectors for dividend action. 89% Am lce'pt ). Merchants Bank & Trust was the 52:2 Am Internat (12 most_active bank stock today, opening| . 4% -*""'R}'t‘;"m" . st 150 and closing at 151% after a| 76 60 AmLF&Woam pr.. 70-share turnover. Riggs National | 125 102% Am Locomotive (8). figured in a very smallsale at 575 and | (81% 80 ~Am Metal (). four shares of National Metropolitan | 135 113% Am Metal pf ( came out at 412, 123% 811 Am Pow & Lt (1) Fifty shares—of Merchants Transter | 108 ~ 98% Am D& Lt pt (6) . & Storage preferred moved at 108, Mergenthaler sold ex-dividend at 105, 84% 79 AmP&LpfAst(5). X N 525 40% Am Rad &S S (1%). Frank Simon pf (7 0 4 5 3 Federal-American Co. preferred _ap- : peared on the board at 100 and Rail- 64% 435 Am Republics. . Freeport-Texas (1) . Y Chi & St L, pt( 121% 106': Am Roll Mill ( Fuller pr pf 1'3.fi:~)‘ & V' 3 Il:n: l): “ 5 124% 931 Am Sm & Ref (4 28 98 971 98% O —_— ¥ Y Do oL Cpenore JFitiersed fegistered| g5 130 AmSm & Refpf (7). - 3 Gabriel Snub A. Y NH&H (4) ey Loosoctunge 8y CHIAT- | 99y 6. Am Btes] Fdy (3).... Gardner Motor. ... N e PN, sy, TeSiiel W SOMEE] 114 11010 ko Bissl W 5 Gen Am Tnk Car(4) SRRl ol ki g5 66 AmStores (). Gen Asphalt. 5 e D (Fh e Bonds v\erp neglected, trading being| 948, 71% A 3 Norfolk & Wst (110). 94% 71% Am Sug Rfg Gen Asphalt pf (5). confined to Washington' Gas issues at| 117 = 104% Am Su 7 308 4 'y Norf & Wst pf (4). gar Ref p( (M. 1106 106 Gen Bronze (2). . Tecent levels. P e e e Rl 508 v S el North Am (b10%stk)’ 461126 Business Still Going Forward. 5 American business has made an ex- cellent record the first half year and :30 Edition. Prev. Low. Close. Close. 39% 391 861 86% 35 36% 541 56 ~Prev. 1929~ Low. Close. Close. | High. Low. 114% 114% 115 | 295 222 110 110% 110%| 69% 2% 541 3 Stock and Dividend Rate. Mexican Pete pf (8). Mexican Seaboard. . . Mex Seabd...June 25 48 Miami Copper (4)... Mid-Continent P (2). Middle States Oil. States Oil ct. Shattuck F G (2). 5% Shell Union (1.40) 4 Shubert Theater ( Simmons Co (3).. 4 Simms Pet (1.60). 4 Sinclair Oil (12%).. Skelly Of1 (2)... Sloss-Sheffield St1. .. So Por Ric Sug 12%. Southern Cal Ed (2). Southern Dairies Southern Pacific (6). Southern Rwy (8). .. Sou Ry M & O et (4). Spang-Chaifnt pf(6) 10 Sparks Withing(i4) . Sparks Withing new . 4 Spiegel-May-St (3).. and Cém Tob (1).. i Stand Gas & El (3%%) Stand G & E pf (4). . Stand Oil Calif (13). Stand Oil N J (12)... Stand OIl N Y (1.60). ¢ Stand Plate Glass Stand Plate Gl pf. - Stew-Warner (3%).. e Stromberg (3).. uitable Bld (2%) . ; N . . oy eRR... ¢ 6 795 & a . % 3 3 10 1042 e R R 1st pf. 3 Natl Cash Reg (14).. " SRR 24 0r 4 Natl Dairy n ($13%)- s reka Vac Cl (4) Natl Dept St 1st (7). ans Auto L (1234 ) . Natl Distillers. 3 5 Natl Distillers pf(7). Natl En & Stamp (1) . Natl Lead pf A (7) Natl Pwr & Lt (1). Natl Radiator. Natl Supply (18) Natl Surety (5). Natl Tea (113) . Nevada Copper (3). . 46 46% 189% 190 1204 121 104% 119 Qhares Reach 125 in Light Trading on Local Ex- change Today. 4 Mo Kansas & Tex. ... Mo Kan & Tx pf (7).. 4 Missouri Pacific. .... Missouri Pac pf (5) Mohawk Mills (214) Mont Ward (2%). Moory Motors Morrdil J (3.60) . 3 Mother Lede (40c) 2% Motion Picture Moto Meter A. Moto Meter A ct. Motor Products (7). Motor Wheel (2) Mullins Mfg. 5o Murray Corp (a3) . BY STANLEY W. PRENOSIL. Associate Press Financial Editor. Y NEW YORK, June 11.—The stock market turned upward after an early sinking spell today, but trading con tinued rather dull. Fears of a mtd- month credit stringency kept small speculators out of the market. and tended to postpone operations of pro- fessional traders except in a few issues 58% |in which special developments are 40% | pending. Call money renewed at 8 1! as against 7 yesterday. %« 69 |about $20,000,000 in loans during the 100 | morning, but new funds quickly ap- peared and no further advance in the rate was looked for during the day. Money is expected to go to 10 or 12 per rer in the week. le reports of Premier MacDonald'’s pmpo-ed visit to the United States were not a market hcmr 18'/. unofficially expressed the an exchange of views with President 72‘6 Hoover would be helpful to both coun- 17%| tries. Business news generally con- 15% | tinue favorable. Burroughs Adding 23 | Machine directors announced a 5-to-1 44 |stock split-up, and the stock broke 35% | nearly 12 points on the traditional 17 0% gl on the good news.” The quar- 22, 2i%|terly dividend on American Brake Shos 28 &mdrymim from 40 to 96 60 23% tone developed in the late 8% trading when Chemical and Public 171, | Utilities shares were in demand. Com- 203 | mercial solvents rose 12 points to & new 1% high at 410. Allied Chemical advanced 56 | 8 points and Commonwealth Power 20 |touched 205, having sold 10 points be- a7 |low that figure in the morning. The 4314 | close was steady. % Opening Is Lower. 124% Stock prices drifted lower at the open- = 2;~ ing, with selling pressure pruunubly 86% 86y | Influenced by the recent stiffening of i a8 call money rates. Air Reduction pped 2235, 225 |3 points, General Railway Signal 2 and 82 8% Unlted Alrcraft l um of the popular 133 130 industrials and 1s showed irregulal 110% 112% fractional nhmze‘:o:: :pm!nl sales. Buying ere again re. = Srs|sumed in the he public. utilities,” but i 11415 1205- volume of trading was relatively small 1816 Commonwealth Power was qul: m* marked up more than 3 points, and 451 | American Water Works and = North 141 | American advanced a point or so of 3 % 8 101% 101 6 100 100% 100% © 2881 2 100"y a1 28 Eastman Kod (18) 4 El Auto-Lite (H3). 150% Electric Boat. . B 12 El Pwr & Lt (1) 670 El Pwr & Lt pf (7 107 Slec Stor Bat (5) 5 8% Horn Coal. 2 31 3% 69 170 Nash Motors (6) Nash Chat & St L Natl Acme (1) Natl Air Trans. cent, called Endicott-John ( Superior Oil Superior Steel. . Sweets of Amey; 15% - 15% 18 18% 621 621 % % 1% 1% 15% 15% 2 22 42 42% 356% 385% 17 21% Aubrey O. Dooley. Tenn Cop & Ch (1).. Texas Corp (3). 4 Tex Guif Sul (4).... Texas P C & Of1 (b5). Texas Pac Lnd Tr. Thatcher Mfg. ... .. Thatcher pf (3.60) . The Fair (2.40)..... Third Avenue. . 4 Tide Water Assoc. .. Tide Wat Asso pf(6) 4 Tide Water Oil(80c). Tide Water pt (5)... Timken Dt Ax(180c) . Timken Roller (3)... 32 Tobacco Pr (1.40)... 141 Tobacco Pr A (1.40). 142 Transcontinental. ... 690 Trico Prod (2%) . Truax-Tr Coal (1.6 “Truscon Stl (31.20) TwinCity Rp T (4).. 2 Twin City R T p£(7). 50s Morse (1! First Nat Stor (11%). Fisk Rubber. Fleischmann (314) Florsheim Shoe A 5 408 604 y 50 121\ 124% 57 ln Florsheim pf (6). Newton Stl. .June 21 Foundation Co. N Y Air Brake (3). Fox Film A (4) N Y Central (8). ¥ Y Chi & St L (6) 784 78 Underw-EI-Fish(4).. Union Bag & Paper. . i Union Carbide(2.60). Union Oil Calif (2).. Union Pacific (10) % Union Pacific pf (4) Union Tank Car(5). . Utd Aircraft&Trans. Ytd Arcraft&T pf 3. Utd Biscuit (1.60). .. United Biscuit p(7). Utd Cigar Stores(1). Utd Corporation. ... Utd Corp pf (3) Utd Dyewood. United El Coal Utd Fruit (c4) .. Utd Paperboard U 8 Cast Irn Pip U S Cst 1P 1st(1.20). U S Distributing. ... Y ly loaded witk U S Hoffman (4).... 321 321 | those stocks and appas tly more anx. U S Ind Alco (6) 1717 | 1ous to sell on the rallies than to make U S Leather. . 229 | new commitments. Skelly, which is ex- U S Leather A (4) 40 [pected to show earnings of more thar U S Leather pr pf(7) 93% s 5‘“" in W second U S Realty (5). 8474 | Off more a point. Rio Grande Oil U S Rubber. .. 46% nnk 21/2 polnh to a new low for tht U S Rubber 1st pf. U S Smelt Ref (3%). 5% ral Bsctrlc quitkly drpped 2y U S Smelt pf (3%). .. 52% pointx Auburn Auto 2, and Frank G U 8 Steel (7). 166 | Shattuck, Bendix Avlltlnn, ‘Gold Dust U S Steel pt (7) l«m ‘arner, Radio and several othel 22 2% 123% 125 ': .5'1% 5 10! 30s 46% 011 Well Supply. 0il Well Sup pf (7) 4 Oliver Farm Equip Oliv Fr Eq cv pt(3).. Oliv Fr Eq pf A (6).. 12 Omnibus Corp. Otis Steel . Outlet Co pt (7). Owens 111 Glass (4. —- 23815 193% Am Tel & Tel (9).... 38 2070 20 Gen Cigar (4) North Am pf (3) 6% 3 AmTel&T..July 1539 3% 34 3% Gen Electric (16) No Ger Lioyd (3.41). 18615 160 Am Tobacco (8)..... 14 170 168 169% Gen Elec spec (60c) e I 188 160% Am Tobacco B (8 13170 169 170 Gen G & ELA (1%) DoCIWRt oL (8) - the almost unprecedented rate of activ- | 121% 117 Am Tobacco pt (6) 4117 117 117 Gen G & Fl pf A ( ity in major industries is being carried | 127% 67% Am Water Wks (c1). 208 126% 1221 126 Gen Mills (3). 2 18% into the Summer season, says the 97 AmW Wistpf(6).. 3 101% 101% 101% Gen Mills pf ( American Bankers' Association Journal Am Woolen. L2 18% 18% 18% Gen Motors (13.3 in ils current issue. The review says: v 1 447% 44% 44% Gen Motors pf (7) “Steel mill operations have shown Am Writ Paper ctfs. 18 12 104 12 Gen Outd Ad vtc ( no let-down from capacity rate, auto- 39% Am Writ Paprpf (3) 10 43 40% 43 Gen Ry Signal (5). mobile production has broken all rec- 99 Anaconda Copper. ... 713 105% 103% 105% Gen Refrac (131 ) ords and building conctruction, after a| 35% 17% Anaconda....June18 170 20% 19% Gillette Safety R (5 considerable slump, has apparently re-| 864 656% Anaconda W&C (3).. 3 69% 65 65 Gimbel Bros pf (7) covered to a-level not far below last| 62% 44 AnchorCap (2.40)... 1 45% 45% 454 Glidden Co (1% the first outburst of buying. year. Employment is general at high Failure of the oils to make more of ‘wages and all indexes of activity make & favorable showing. “Distribution of merchandise secms to have &kept pace with production, despite the late Spring weather, which has retarded trade somewhat. This widespread pace-making of business in most of its branches has been accom- panied by very satisfactory earnings, a tabulation of 700 corporation reports for the first quarter of the year, making a gain of 25 per cent over 1928. In- dustrial and trading companies were 39 per cent ahead, railroads, 19 per cent, and utilities, about 15 per cent ahead. “Money rates continue to be ab- normally high, and as yet there has beenh found no solution to tI l%rohlem of overexpanded credit. Certainly the banking system does not hold enough gold to warrant any deliberate policy of easy money at this season of the year, in view of the usual seasonal increases which come in the Fall and Winter and which last year drew down the reserve ratio into the 60 per cent level, whlch is as low as it should be allowed to if any reserve strenflh is to be mllll- tained for emew e In( place in ket whh:h :rfled far enough would result normal iwhile the rates for money, Imt tight rates prevailing mva killed the 124 109 Anchor Cappf (6%). 2 108 108 68% 44% Andes Copper (3)... 172 51% 51% 49% 29 Archer-Dan-M (2) 5 31% 95 85% Armour Del pf (7) 1 86 18% 10% Armour Il (A) 23 11 10% 5% Armour Il (B) ] 5% 5% 57% 49% Asso ApplInd (4)... 6 B55% bbl bbs 70% 43 Asso Dry G (2%). 3 43% 43% 43% 47% 40% Asso Oil (2)... 2108 431 431 43% 226% 195% Atch T& SFe (10).. 27 218 2114 211% 103% 99 Atch T&SF pf (5). 1102 102 102 191% 169 Atl Coast Line (110). 25 190% 187% 190% 661 3214 AtlG & W Indies 1 61% 614 61% 71% 53% Atl Refining (11%).. 221 70 681 69 13% 10% Atlas Tack.. 10 14% 14 14y 256 221 Auburn Auto (J4)... 27 252 243 252 10 5% Austin Nichols. . 2 5% 5% b 421 32 Austin Nichols pf. 3 364 36 364 35% 22% Autdsales 4 31 304 304 _43% 36% Autosales pt (3) 2 40% 40% 40% Y SE—— 125 114% Baldwin Loco pf (7). 10s 114% 114% 114% 183 115% Balto & Ohio (6).... 22 118% 117% 118 2% 1% Baito & Ohio.June 20 117 2 214 6% 64l Bang & Aroos (3%). LTRS¢ S 49% 88% Barnsdal A (2)..... 42% 41% 41% 118% 87 Bayuk Cigar (2) 3 100% 99% 100% Bayuk 18t pf (7) 100 101 il Bescon Ofl.:........ 25 2% #Beech-Nut Pack (3). 79% Wi i Belding-Heminway . . 1% 12 19 84% 81 Belg N Ry ptf (16). 837 83% 837 93% 78 Bendix Aviation (2). 131 84% 81% 841 93% 75% Best&Co (3)....... 5 8214 B80% 80% 118% 82% Bethlehem Steel (4). 494 100% 98 100% mortgage and industrial bond market| 6% 2% BethSteel...June18 541 5 4 4% for both domestic and foreign issues,| 118 97 Blumenthal pf (7)... 50s 104 104 104 the latter constituting a threat to Amer-| 98 83% Borden Co (3). 87% 85 874 ican export trade that to date does not| 143% 107% Bors Warner (5 111% 107 111 appear to have received the attention| 109% 85 Boston & Maine. 105% 1041 105% that it deserves.” 63% 30% Briggs Mfg. 311 31% 7% n 3 3% 3y Rotall Tads. Comphriosas: 6% 3% Brit Em Steel 3% 3% % 424 gmtwayfi'f ¢ ) 1?(1) Total sales of department 145 100 rockway pf (7).... May were 2 per cé’.fl’mg';i“zh.‘.'fl%‘n’.‘,‘ 200% 170 Bklyn Union Gas (5). 9 177% 175% 177% corresponding month a year ago, ac-| 56% 38% Brunsw-Balke-C (3). 16 40% 39 393 cording to preliminary reports made to| 44% 18 BrunsTer &Ry S. .49 20 <79 Federal reserve system by 461 stores.| 42% 25% BucyrusErie(1).... 12 28 27% 2% Increase in sales was reported by 216| 50 38% Bucyruscvpf (2%). 5 41 40% 41 stores and decreases by 245 stores. The| b3% 46 BullardCo (1.60).... 7 49 48 48 month had the same number of busi-| 39 22% BurnsBrosB. 188 .98 i 2 ness days this year and last. 105% 99 Burns Bros pf (7). 100 99 100 Retail sales in New York district were | 329% 283 ~Burr Add Mch (15).. 317% 305 310 3.8 per cent higher than last May; in| 89% 56% Bush Term (g2). 60 59% 59% Boston they were 6.2 per cent higher,| 110% 108% Bush Term deb (7). 80- 105 104 104 in Richmond 1.0 per cent higher, Chi-| 118% 110 Bush T Bldg pf (7). . 408 116 115% 115% cago 4.5 per cent higher, St. Louls 04| 9% 4% ButteCopper&Zinc. 6 5% 5 5 per cent higher, Kansas City 6.0 per| 41 28 Butterick Co 80 B .88 cent higher and San Franciso 3.9 per | 192% 122% Byers (A M). 133% 127% 131% cent higher. Decreases were shown 121% 105 Byers (A M) p 112% 112% 112% 1.3 per cent in Philadelphia, 1.5 per cent in Cleveland, 5.7 per cent in At-| 81% 724 Calif Packing (4). lanta, 3.9 per cent in Minneapolis and 4 1% Callahan Zinc & L. .. 2.1 per cent in Dallas. 186 1244 Calumet & Ariz (10). 1 61% 36% Calumet ecla(4). 42% 41% 42% Assumes New Trust Duties. 89% 78 Canada Dry (14%).. 167 88% 8415 871 Aubrey O. Dooley has assumed his| 265% 218 Canadian Pac (10)... 25 222% 221 222% new duties as assisiant trust officer of | 7 4% Can Pacific. .June 17 169 4% 4% 4% the Federal-American National Bank.| 48% 38 Cannon Mills(2.80). 5 39 39 39 Mr. Dooley became associated with this| 101% 96 CarC&Osta(5)....10s 95 95 95 bank last February, after long service | 509 293 Case Threshing (6).. 25 324 316 318 with the Commercial National. He| 79% 52 Celotex (3) - 150 ‘59 59 holds law degrees from Georgetown and | 48% 30 Central Ag 4 31% 31% 31% National Universities and is second vice 52% 40% Cent Alloy Steel (2). 11 44Y% 43% 44 president of Washington Chapter, | 112% 105% Cent Alloy Stpf(7).. 108 110% 110% 110% American Institute of Banking. 120 88% Cerrode Pasco (6)... 2 95% 95% 95% Merger Interests Local Bankers. 28% 16% Certain-teed Prod... 26 26% 25% 26% 280 196" Ches&Ohio(10).... 37 215t 214 214 “hes o..July 1 28! 4 Local bankers were deeply interested | 8% 78, Cresapeake Corp (3) i in reports from New York today that a 1838 Chigs Corp., Junasd tid new banking merger, involving the A ey o Chase National and = the National 12% Chi Great Western. . 14% Park Bank is being negotiated. 40% CRi Great Westn pf. s If successful such a merger would 27% ChiMStP& P " link resources of nearly $1,600,000,000, %6% ChiMStP& P pf capital funds of $200,000,000 and de- 80% Chi&NW (4).... posits in excess of $1,300,000,000. OM.- 28% Chi Pneu Tool cials have no statement to make as yet % 115 Chi R I & Pac (7) other than to admit that the merger | 139% : % e o 108% 108 Chi R1& Pacpt (). 1 lose 105m soss DTty DR A 50 38% Chickasha COIl (3).. 1 39% 39% 391 pCompletion of the merger would place | G0, 440 Childs Co (2.40).. B40 . b 40 O e T e T3k | 185 68 ChrysterCorp ().s. 309 74% Tik 73 Tom _the standpoint of resources, With | “goy, gy, CityIce & F (3.60).. 7 52% b215 b2vg the Guaranty Trust Co, which recently | %0 %0 ¥ 100%™ Gunles gy "y 4% 62 abscrbed the National Bank of Com-| 105t 10014 City 14 F pE (68%).. 108 100 100° 100 l'f‘;r';c:,;c’;“:‘mg""gfflf“:;;;‘:;rc e‘é‘ deo| 27 20% City Stores (1) 40 " 22% 21y 21% Seok Tox tnereasiog e captial fwnds to| 53, 43 CltystoresA (). 60 43 ok dou $260,000,000, will rank as the largest in i the country from the standpoint of cap- 72% 56 Cluett Peabody (5).. 1 581% b8 119 107% Cluett-Pea pf (7).... 70s 107% 107'/. 107% ital funds. The new merger proposed would place the Chase only & step be- 140 120% Coca-Cola (4). 17 132% 160% 132% hind the National City Bank, now rated 50 47% Coca-Cola A (3) 5 48% 48% 48% as the Nation's largest financial institu- 721 48 Collins & Aikma 50 50 78% 56 Colo Fuel & Iron 57 tion, with total resources of $2,000,- 000,000. 4 Glidden prpf Gobel (Adolf)... Gold Dust (2%) Gold Dust pf (6). Goodrich B F (4).. Goodyear Tire (5). 4 Gotham Silk H Graham-Paige. Granby Consol (7). . Grand Union Granite City Stl Grt North pf (5). Grt North pf ct Grt Nor Ore (a1% Grt West Sug (2. Grt West Sug pf 508115% Greene Can Cop (8) 34 148% Guantanamo Sugar.. 1 2% Guif Sta Steel (4) 1 56 Pacific Gas & E (2).. Pacific Lighting (3). Pacific Oil stubs. . Packard Motor (15). Pan-Am Pete B. . Panhandle P& R.... 5§ ‘Paramount-F-L (3). 166 Park Utah (80c) . 8 s Pahte Exchange. ... . Patino Mines (3.89). Penick & Ford. Penn Dixie Cem 4 Pennsylvania RR( Penn R R....June 14 693 Pere Marq pr pf (5). 708 Pet Milk (1%).. 4 Phelps Dtndxe @3). Phila Co 6% pf (3). Phila Rap T pf u‘&) 208 % Phila& Read C&I.. 12 Philip Morris (1).... 8 Phillips Pete (1%) 8 Phoenix Hostery 1 Plerce-Arrow A. 3 Plerce Arrow pf u). 1 Plerce Oil. T Plerce Ol pf. . St 4 Plerce Petroleum. ... 2 Pillsbury Flour (2).. z 8 1 2 2 2 3 7 59% s 82% 1 86 'h(! 1 10% 360 6 U S Steel. ...Jun % mnz industrials sank a poxnt or mort Univ Leaf Tob pf(8). 80s 1 on the renml of selling pressure Univ Pipe & Rad.... 7 13 | United Fruit, Mullins Body and Genera Rll.l'ly‘ -Ehlgnu wzds at M lowest prices of the year. Sparks Withingtor %old stock) Broke & potnts. Specialties in Demand. A few specialties moved against thi wlrd nd. Hackensack pf (1%). 10s 27 Hacken pf A (1%)... 20s 27 Hahn Dept Store 49 35% Hahn Dept § nua'/,) 1192 Hamilton W pt 108102% Harbison Walk Hartman B (1.20) Hawailan Pine (2). Hayes Bdy (b8 %stk) Hershey Chocolate. . Hershel Choc pt (4). Hershey pr pf (6) Hoe (R) & Co. . Holland Furn (e21). Hollander & Son Houd Hersh B (1%). Household Prd (14). Houston Ofl Howe Sound (4) Hudson & Man ( Hudson Motor (5) 4 Hupp Motor (£2) Util Pwr &Lt A (e2) 25 1143, 117% ‘Vadsco Sale: Vanadium (t4). Victor Talk pr p! Virginia-Car Chem. 1 Pirelli Co A (2.88)... Pittsburgh Coal. . Pittsburgh Coal pf Pitts& W Va (6).... 1 P Rican Am To (A)7 P Rican Am To (B). Postal Tel & C pf(7). Postum Co (3). Prairie Oil & Ga. Prairie Pipe L ( Pressed Steel Car Prod & Refiners. Prod & Refiners p! Prophylactic (14). Pub Sve NJ (2.60)... 119 PubSve NI pf (6)... 4 Pub Sve N pf (T)... 2 Pub Sve E&G pf(6).. 2 Pullman Corp (4).... 7T Pure Oil (1%). PureOil pt (8).... 4 Purity Bakeries (3 lymnneunt:poincnx::. 16 ‘wle_Vmflheu um ofi,::hnued 5 % Waldorf Systm (1%) Walworth (1.20) ... Ward Baking B..... ‘Warner Bros Pict Warn Br P pf(2.20).. ‘Warner Bros Pic (n). ‘Warner-Quinlan (2). ‘Warren Bros (16)... Warren Fdy & Pip. Webster-Eisenloh: Wess Oll & Snow(2) . Wess O & Sn pt (4).. West Penn ELA (7). West Penn El pf 16). West Penn El pt (7). West Penn Pw pf(6) West Penn Pw pt (1) stn Dairy A (4).. Wonn Dairy (B). W Dairy P B.June 13 Western Maryland.. Weatern Paclt pf.. stern Union (8).. W stngh Air Brk(2). ‘Westngh EI&M (4). . ‘Westvaco Chlor (2). White Eakle Oil (2).. White Motor (1).... ‘White Sw Mch pf(4). Wilcox Oil & Gas.... ‘Wilcox Rich(A)2%.. Wilcox Rich(B)c2. .. Willys-Over (c1.20) Wilson & Co A ‘Woolworth Co ‘Woolworth (new) ‘Worthington Pump Worthington B. Wright Aero (2) Wrigley W (ct3 *Y Yale & Towne (4)... Yellow Truck &C. .. Young Sp&W (12%). 11 60% Young Sheet& T (5). 28 133% Sales of Stocks on New York “Legal Interest Our Only Charge Quick ‘Service—Confidential {UNITED LOAN CO. Rosslyn, Virginia JM M’NII !7 lruco—o»-m Banl Independ Oil & G (2) % Indian Motor Cycle.. 1 Inldian Refining. Indian Refining ct Industrial Rayon. Iniger Rand (15%) Inland Steel (3% ) Inspiration (4). Interboro Rap Tran. Intercontinental Rub Intl Agricultural . Intl Business M (5) Intl Cement (4) Intl Comb Eng ( Intl Harvester (215). Intl Match pf (3.20). Intl Mer Marine. .. .. Intl Mer Marine pf. . Intl Nickel Can (80c) 176 Intl Paper pt (7 1 Intl Pap & P A(2,40). 18 Intl Pap & Pwr B. 3 Intl Pap & PwrC.... 16 Intl Pap & Prof (7). 2 88 Intl Ry Cn Am pf(5). 90s 70% Intl Silver (18)...... 1 1281 Intl Tel & Telnew... 72 82 Int Tel&Tel ..July 5 406 3% Inter Dept St (2).... 1 73% Inter DptSpfxw(7) 1 94 Island Creek Coal(4) 4 51% 22 268 49% 58 . 508 11 Radio Corp. ... Radio pf A (3%) Radio pf B (5).. Radlo-Keith-Orpl Reading (4) Reading 2d pf (2). Real Silk Hosiery. Reis (R) &Co. ... Remington-Rand. ... Reo Motor Car 11.60. Rep Iron & Stl (4)... Reynolds Spring Reynolds Tb A(2.40). 308 Reynolds Tb B(2.40). 86 Richfield Oil (2). . 29} 10 3 4% 74 2 1% 1% 1 129% 120% 129% Rio Grande Oil (k2). Ritter Dental (2%). Rossia Ins (2.20).... 6 Rossia Ins...June 156 8 Royal Bak Pwdr(1).. 295 Dutch(al.336) 21 4 123% 81% Complete Investment Service 1 70% 3 i 55 38% 94 51 55% 56 160% 160 105% 105% 8% 66% 11‘% 114% 7 160% . 60s 106% 22 68% 2 114% A st'a 169% 667 Safeway Strs (3). Safeway pf (7).. St Joseph Lead (13). St L-San Fran (8)... St L-San Fran'pf (6) 9415 St L Southwn. . 31 8714 | & Schulte Retail Strs. . 0% 208 20% 3 Schulte Retail pf(8). 308 1000 100% 98% | 4% in Seaboard Air Linept 1 17 1 e Seagrave (e1.20). LML Sears Roebek (32%) 106 136% 1554 168% 185 - |RAIL MERGER PLANS |27 e » STABILITY IN MONEY T0 BE EXPEDITED safely in operation and m-l.numnoe the last alternative to keep up revenue ‘consol Combines of Carriers Held Chief Method of Increasing is to make lidations, Revenue. 4 Johns-Manville (3).. Jones & Laugh pf(7) Jordan Motor Car 9 169 20s122 A 167 121% T Kan City Sou (5). 4 Kan City Sou pt (4)., Kautmann DS (1%). Kayser J & Co (5) Kelly-Spring Tire Kelsey Hayes (2) Kelvinator Corp. Kendall Co pf (16 Kennecott (5) Kimberly Clrk Kinney (G R) (1) Kinney pf (8) Kolster Radio Kraft Ph Ch (1%). Kresge Dept S pf. Kress SH (1)... 4 Kreuger & Tol(1.34) . Kroger Gr & Bk (c1 tra tha e lrfiauu in prel GreeeT & Co. BANKERS INVESTMENT BUILDING 'WASHINGTON, D.C. Telephone, Main 3460 b 3%° 1n” stock- K'Pius 3% which will lnnphnt two or more men by one in some cases, eliminate & huge .m?.l‘m" of elmnd ldminll:ntlvo routine, unify some of the less lucrative llnelm e big roads to be et nuwmnmtmantummm that the Interstate Commerce Commis- slon is going to be bombarded on all sides from now on. Bankers Do Not Expect Gyrations 2 40 in Rate Due to New Lago Oil & Trans Lambert Co (8). . Lee Rubber & Tire. ., Leh Port Cem (2%) Lehigh Valley Coal Leh Val Coal pf (3).. Lehigh Valley (3%). Special Dispatch to The Star. NEW YORK, June 11.—The Inter- state Commerce Commission ‘is not go- U. S. GRAIN EXPORTS. tionally 122 101 Colo & South (3). Local Financial District Notes. 79% b53% Columbia G&E (2).. 281 ‘The improvements in the Franklin National Bank's Connecticut avenue branch are nearly compleud, lcoordln( to President John B. Cochran. office will have a 50-foot frontage, 'ork on the facade now being pushed rapidly. . The Treasury announces that sub- scriptions to the new 5% per cent ‘Treasury certificates of indebtedness dated June 15 have been closed. The high interest offered is still caus wide comment in the financial press over the country. General Motors common and pre- ferred stockholders set a new record for the second quarter of 1929 at 125, 265, compared wi'.h 104,202 in the first Quarter of 1929. Abrasive Firms in Merger, YORK, June 11 (P).—~The organized act to take over the export abrasive business of nine large companies. They are the American Glue Co. Armour #; Co, H. H. Barton Sons & Co., Behr~ dum Co. & Manu- facturing Co., Unmm‘ Co., Nausau mn Co. -Raser-Adamson 108 103% Colum G&EDLA (6). 1 106% 88% 64% Colum Graph (29.1c) 249 70% 167% 121% Colum Carbon (14%) 62% 43 Com Credit (2) 105% 95% Com Crd 1st pf X 26 24 ComCreditpf (1%).210s 26 27% 25 Com Credit pf B (2).250s 27 92 ComInvT M (6%).. 66 96 404% 225% Com Solvents (h8).., 62 410 218% 107% Comwealth Pw (t4). 136 205% 35% 19% Congoleum-Nairn 48 “21% 74 CongressCigar (5).. 72 73 84 Consol Clgar pf(6%) 10s 86% 89% Consol Clgar pt (7). 208 " xs'l ua'a 98% 214 Consol Textile. 12 Container Corp A 6 Container Corp B 47T% Contl Baking A 8% Contl Baking B. 881 Contl Baking pf (3). 85% Crosley Radio (11).. l 85 Crucible Steel (5),.. 1 1 61 Cuban-Am Sug pf Cuban Dom Sugar. 6% 4 173% 135% CurtissAero (Le.ew ” 155 M l“fi 152% 27 106% ll)s'n 69% 394 409 195 205 1 2% 21% 3 3 B6% * 86% 92 92 26 26% 112y ll!n 98l 2% 13% 6% 5% 13 974 67% 81 17“ Lehn & Fink (3). Liggett & My (15). Liggett & My B (15 Lima Locomotive Link Belt (2.40) . Liq Carbonic (14%). » Loew's Inc (13)..... Loew's Inc pf (6%).. . Loew's pf x w (634). Lorillard (P) Co. Loulslana Ofl. . LouG &Kl A (1%) Louis & Nash (7) Ludlum Steel (2) 13% 39% 143 88% McCall Corp (4). MecCrory A (2). McCrory pt (6) McGraw-Hill (2) McKesson & Rob (2). Mack Trucks (6). Madison 8q G (1%).. Magma Copper (5)... Man Elec Supply. 947 185 66 26% A7 123 7 20% ing to be asked for any general in- crease in rates, according to statements today by men high in the executive councils of the larger railroads. The commission, however, is going to be strongly pressed for action on the great railroad consolidations. The first move of this campaign has been made by the Van Sweringen Sys- tem, affecting its plan for consolidation of roads already owned, and the sec- ond is the request from the Bl.mmm & Ohlo for permission 80 per cent of the stock of the Buftaio, e & from Pittsburgh Van i t ce do not Railroad men of emtm‘m would mean a to the roads. assert, bout are about bear. To advance source increased reven: turn to m other alternative. ating revenue cannot be in must be reduced to secure added net income. _The of the great continental 88y that cutting of costs in Grain exports from the United States last week were 1,859,000 bushels, com- pared with 2,047,000 for the previous week and 1,279,000 for the correspond- ing week last year. 1,486,000 for the gtevlo\n week; b-rlcy. 802,000, against 302,000; m. 97,000, against 219,000; oats, -num 251000: rve, mone, agalnst 110 Cana ain cleared from. United was Atantc States Atlan last week 2,171,000, 2,073,000 for the previous week, while North American pared same figure previous week. OOAL OUTPUT GAINS. YORK, June 11 (®).—Produc- n( the Island Creek Coal Co., dur- May totaled 552, & LIS LL Uncondif GUARANTEED Is Your Money Earec a Satisfactory Return?