Evening Star Newspaper, June 15, 1929, Page 24

GAS STOCK SALES OFFER EXPLAINED Company Tells Shareholders | of $125 Bid Made by D. A. Pearson. BY EDWARD C. STONE. H In connection with the change in control of the Washington Gas Light | Oo, the following letter asking them to ~Prev. 1920, Stock and Baies— High. Low. Dividend Rate. Add 00. High. 54% 381 Abitibl Power & Pap 7650 389 Adams Express (6). a g Ahumada Lead. ... 95% Air Reduction (13) 37% Airway Elec (2!4\ 4% Ajax Rubber. .. 4% Alaska Junean. .. 12 Albany P W Paper. 27% Alleghany Corp. ... . 9914 Alleghany C pf (5%) 100% 100% Alleg'y pf rets(53%) . 305% 241 Allied Ch & Dye (§) 1126 120% Allied C & D pf (7) 11% 5 Amal Leather.. 23% 104 Am Agricul Chem 78% 40% Am Agricui Chpf . turn over their stock was received hy | the shareholders today. | *To_the stockholders: | “"The directors of the Washington Gas | Light Co. have sold to Mr. D. A. Pearson | their stock in the company for $125 per | share, with the understanding and agreement. on the part of Mr. Pearson that he will purchase, at the same price. the shares of all other stockholders of record es of June 12. 1929, who may desire to sell, if delivered to him on or before June 27, 1929. _“If yau should desire to sell your stock %0 Mr. Pearson, please deliver the same. signed and ready for transfer. to the Munsey Trust Co. of Washington. D. C.. to be pald for on delivery. This must | Be done on or before June 27, 1929. “Very truly yours. “ORD PRESTON, President.” | llis Bond Club President. | At the annual election of the Wash-| Bond Club, In connection with | the outing yesterday at the Burning Tree Club, Franklin H. Ellis of E. H Rollins & Sons was elected president: Sidney T. Thomas, Gillet & Co., vice president, and Lawrence M. Proctor of Alexander Brown & Sons, secretary and treasurer. W. W. Mackall, manager of Stein Bros. & Boyce, and Baker Rob- nson of the National City Co. were elected to the board of governors. More than 90 bond men enjoyed the euting. one the best yet held. GCarroll Morgan, Kenneth S. Weles, F. H. Ellis, Sidney T. Thomas and Robert Stead were the committee. The golf events atarted at 1 o'clock. James Johnston of Irving & Jobn- ston, was awarded first honors in golf, and D. H. McKnew, Southern Securities Co.. second, while E. S. Hull of Bon- bright & Co., received the booby prize. | 1Inthe obstacle golf contest, W. B. Van Devanter of the Guaranty Co. of New York, took the first prize, and F. H. “Fllis of E. H. Rollins & Sons, garnered second honors. In the stock exchange trading prizes were won by Thomas W. Brahany of Crane, Parris & Co., receiving a radio | set:- Richard Winder, a set of matched golf clybs and bag. and W. B. Vlnl Devanter, a wrist watch. Seats on this “Stock Exchange of the Bond Club of Washington Outing Co.” ‘were in. t demand and trading was at s fe heat. throughout the ses- sion. The market was very selective with both bull and bear movements in progress at the same time, causing a | great deal of arbitrage. | First ping pong honors were award- | ed to Van Devanter and Freeman, while second honors went to Morgan and Parker. During the dinner music ‘was furnished by Bill Reeves and his orchestra. . The questionnaire con- ducted in connection with the election of the officers was one of the hits of | the evening. Fleming Honers Associates. Gold pencils engraved with their | mames were presented to members of | the council of administration of the District of Columbia Bankers' Associa- yesterday by - retiring President V. Fleming as his tribute to their service and assistance. Pollo'ln(J red to | the home of Charles J. Bell its first | mt.m present hirq with & mmd ! and engrossed, copy'of & resolution pathy ol the -och iness and its %hope for a speedy recovery. Tesolution was in- troduced at a theeting of past presi- dents earlier in the week by Past Presi- dent H. H. McKee and passed by the | Assembly. m:- of ‘the couneil of $he ad- ministration, besides Messrs. Fleming, McQuade and Waller, are Lanjer P. Mc- | Lachlen, Albert S. Gatley, Charles H. | , C. H. Pope, John M. Riordon, J. Pra Whlu and W. W. Spaid. Leith Wins Exeiting C'll.fi: As noted in the 5:30- edition of The lur yasurdly. T, Hunifln Leith, as- u:mef of ican Institute of Banking yesterday lfl- ernoon. - Purther information shows that there was a hard fight and the vyoung Washington banker and his as- soclates deserve great credit- for the success attained. Aubrey O. Dooley, assistant trust of- ficer of the Federal-American National Bank, was elected to the national pub- Jicity committee. Dollars and Sense, the publication of Washington Chapter, ‘war awarded first prize in the publica- tion contest. The president for the | Tewm\nl year iz J. W. Evans of Dallas, | x. The local member of the national eouncil. Mr. Leith, has been a leader | in Washington Chapter for several | years, having been president and hold- ing most of the other important. offices and committee assignments. He has been on the board of governors and was one of the delegates to the national conventions at ‘Kansas City, Dallas, | Detroit snd Philadelphia. He was a candidate for the same national office Iast year, but competition from other | larger chapters was 100 keen. He entered the employ of the Security Savings & Commercial in 1914 as a ‘bookkeeper and was advanced through the positions of savings teller, collec- tion teller, manager of new business de- | partment to assistant cashier in 1926. He served in the Cosst Artillery during the war. Bank Declares Dividend. The directors of the United States Bavings Bank have just declared their regular quarterly dividend of 7, per | cent, pavable June 20, 1929. | | Markets at a Glance NEW YORK, June 15 (&).—Stocks Higher: New Haven snd Norfolk & Western at new highs. Bonds dull: United States Government issues ir- regularly lower. Curbs irregula Commonwealth and Southern open with stock of 100,000 shares. Foreign ex- | changes irregular. GERMAN BONDS AND STOCKS. NEW YORK. June 15 (Special) ®er Govt Amn with & cHE sttached Ger Sovt Loan wuhom ing r ) Asked 55.00 0000 | lar Quote 1‘;" bars ‘per " thoisang. mar Gen Bleet 42 preowan s 00 w82 auil 134% 110 Am Bank Note (13) 73% 40% Am Bosch Mazneto.. 62 45 AmBrS&F (h1.60), 34% 154 Am Brown Bov Elec. 49% Am Brown Bov pf 7. 107% Am Can (14). 92 Am Car & Fay 70% Am Chain pf ( 46% Am Chicle (2). 4315 Am Com Ale (k1 6 23% Am Encaust Til (2). 76% Am & For Power ... 38 Am & For Pw 2d p 241 Am Hawaiian (1). 6% Am Hide & Leather. 3 Amlce (13)........ 521 Am Internat (12)... 126% 102% Am Locomotive (8). 81% 50 Am Metal (3).. 98% 67 Am Nat Gas pf ( 56 25 Am Pianopf.. 129 81'% Am Pow & Lt (11). 108 98% Am Pow & Lt pf (§). 52% 40w Am Rad & S8 (1%). 121% 106% Am Roll Mill (c2) 74% 61 Am Safety Raz (15). 124% 931 Am Sm & Ref (4) 138 130 Am Sm & Ref pf (7). 79% 56 Am Steel Fdy (%). 84% 7T1% Am Sugar Rfg (5). 60 35k Am Sumatra (3) 288% 1984 Am Tel & Tel (9). 186!s 160 Am Tobacco (3) 160% Am Tobacco B ( Am Tobacco pf (6).. Am Type Fdry pf(7) Am Water Wis (c1). Am Water W 181(6). Am Woolenpf...... Am Zinc LA&Sm Anaconda Copper . . . ‘Anchor Cap (2.40) .. 124 108 Anchor Cap pf (6%). 44% Andes Copper (3)... 29 Archer-Dan-M (2) 10% Armour 11 (A). 10% 5% Armour Il (B 88 72 Armour NI pf (7). 40% 19% Arnold Constable. 49% Asso ApplInd (4)... AssoDry G (233). Asso D G 18t pf(6).. Atch T & SFe (10)e. Atl Refining (11%). Atlas Powder (4). Auburn Autg (j4) 4 Autosales. 50 424 Auto-Strop B 126 114% Baldwin Loco pf (7). 188 115% Balio & Ohio (6).... 110% 108%. Bamberger pf (6%). 50s 76% 64% Bang & Aroos (3%). 8 49% 38% Barnsdall (2).. 36 28% 20 BeaconOil.. 18 17% 11% Bolding-Heminway 4 Bendix Aviation (2). 60 Rethlehem Steel (4). 231 Bethlehem St pf (7). 1 136% 110% Bohn Al &Brass(f4). 11% 6 Booth Fisheries 98 83% Borden Co (3) 143% 107 Borg Wa 109% 85 Boston & Maine 68% 304 Brigegs MIg. 78% 42% Brockway M 81% 60% Bkiyn-Manhat 200% 170 Bkiyn Union G 47 38% Brown Shoe (2%)... 55% 38% Bruns-Balk-Col(3). aan Bruns Ter & Ry § 425 4 Bucvrus Erie (1). 53% Bullard Co (1.60). Bush Term (£2) 9% Butte Copper & Zinc. 12% Butte & Superior (2) { 192% 122% Byers (AM)... 121% 106 81% 724 Caiif Packing (4) 4 - 1% Callahan Zinc & L 1 86 124 Calumet & Aviz (10). 55 Calumet & Hecla (4). 36 Canada Dry (14%4).. &7 Canadian Pac (10).. 37 Cage (T 1) ctfs (§). 2 3 Celotex (3). Gent Alloy Steel (3). CentRR of NJ (112). Cerro de Pasco (6) .. Certain-leed Prod Ches & Ohlo (10). 4 Chesapeake Corp ( Chi & Alton. Chi & Alton p Chi Great Wesin pf Chi Mil St P&Pac. Chi il 8t PAPac pf. Chi &N W (4) Chi Pnen Tool Chi Pneu T pf 1\!.) Chi RI1& Pae (7). 36 20% Chi Yellow Cab (3).. 2 50" 38% Chickasha COil (3). 60% 447 Childs Co (2.40)..... 135 66 Chrysler Corp (3)... 62% b5l City Ice & F (3.60).. 27 20% City Stores (1). 72% 56 Cluett Paabody (5 140 120% Coca-Cola (4). 50 - 4T% Coca-Cola A (3) 72% 48 Collina & Afkman... 78% 56 Colo Fuel &lron.... 80 70% Colo & Sou Int pf (4) 10s 79% 58l Columbia GEE (2).. 48 108 103% Colum G&EDf A (6). 1 88% 64 Colum Graph (29.1¢c) 126 170 121 Columbn Carbn 4% . 85 43 Com Credit (2)...... 10 4 Com Crd 1st pf(6%). 50s Com Cr 18t xw (6%). 608 238~ 107% Comnwealth Pwr 14, 89 36% 19% Congol, 92% 71 Congre: 964 77% Consol Cigar (7).... 3 9% 84 Consol Cgrprpfély. 208 30% 25 Consol ¥ilm In pf’?) 19 119% 95% Consol Gax (3) 100% 98 Consol Gas pf (5). 6% 2% Consol Textile 28% 12 Container Corp A. 11% 6 Container Corp B. 81% 47% Contl Baking A. 14% ®% Contl Baking B. 100 38% Contl Baking of (3). 80% 60 Contl Can (2%). . 9415 79 Contl [nsurance (7). 28% 17 Contl Motors (80¢c). . 101% 82 Corn Prod (13) 144% 141% Corn Prod pf (7). 51 Coty Inc (§2).. 85% Crosley Radio (31). 85 Crucible Steel (5). 5% Cuba Cane Sugar pf. 11% Cuba Co 11 Cuban- 0% Cuban-Am Sug b, . 3 Cuban Dom Suga 117 Curtis Publishing 178 136% Curtiss Aero (1). 86 63 Cuyamel Fruit..... 69% 128 116 207% 182 267% 224 Detroit Edison (8) . §4% 43% Devoe & Ray A (13). 164 130 Diamond Mateh (3). 10s 10% 8% Dome Mines (1) 7 53% 43 Dominion Stores (7). 126% 106 Drug Corpn (4) ... .. 28% 20% Dupian 8ilk (1). 7 4 Duluth S S & Atipf. 198% 155% Du Pontde N(f43). 45 36 Durham Homiery pf.. 20s - —— Eastman Kod (3 2 174 Katon Axle& S (2).. 3 63 t4%). 10 16T% 4 119% 168 76% 56 172~ 126% Kl Auto-Lit 18% 11% Electtic Boa 1344 724 A3% El Pwr & Lt 13 69% 100% 10 Kl Pwr & Lt pf 1 106% 92% 77 Elec Stor Bat (5) 38 82u 6% 3% Elk Horn Coal. 31 60% 47 Kng Pub Serve ( 41 31% Equitable mduzy.) 6 57 Erie RRI1stpf. 56 Erie R R 2d pf. 44% Eureka Vac Cl (4). 22% Exchang: nuul ). 100 28EZIB=S 33333383388288 2183238338 Norfolk loumom nemrmv o rumors, E-‘mlm the usual semi-annual 68% Fed Lt & Tre ($1%). 90% Fid Phen ¥ Ina (3) 44 Foundation Co. 80% Fox Film A (4) 37 |Freepert-Texas (4).. 48 55% 5 7 1834% 110% Gabrie] Inuh &: Gardner Motor. Gen Am Tnk Car(14) Gen Asphalt G.n Asphalt pf ( Gen Cigar (4) Gen Bleotric (16). .. Gen Elec apee (80c). GenG&EIA (134). Gen G & Blpf A (7). 1 Gen Tce Cream (7). Gen Mills (3 Gen Motors (1£.30) Gien Motors pt (7). Gan Ontd Adv A (4). Gen Ry Signal (5)... Gen Refrac (13%). . Gfllette Safety R (5) Gimbel Bros pf (7).. 4 Glidden Co (i1%). Gobel (Adolf). Gold Dust (234). Gold Dust pf (6 Goodrich B F (4) Goodyear Tire (5). Goodyear 18t pf (7). . Graham-Pai Granby Coni Grand Union ... Grand Union pf (3 LA‘A 4 Grant W'T (1)... Grt North pt (5). Y 09% lD’ Grt North pf et (5 105 Grt Nor Ore (81%) 3 29 Grt West Sug (2.80). 3 35 Greenes Can Cop (3). 45 161 Hackensack pf (1%) 27 Hacken pf A (1%). 27 Hahn Dept Stores . 38 Hahn Dept § p(63%) Hanna (M A) 1st(7). Hartman B (1.20)... Hayes Bdy (b8 %ntk) Hershey Choc pf (4). Hoe (R) & Co. Hollander & Son Hom o Min (7). Houd Hersh B (1%). Houaton Ol Jiinois Central (7).. nd Ofl & G (2) MotorCyecls. . Refining. ... Refining ot. Industrial Rayen. ingersol Rand (53) . Inspiration (4) Intercontinental Rub Intl Agricultural. ... intl Comb Eng (2). . Intl Cmb Eng pf (7). Intl Harvester (233). Intl Match pf (3.20). Intl Mer Marine..... Int] Mer Marine pf. 4 Intl Nickel Can 1l'c) ui Int! Pap & Pwr Intl Print Ink (2%).. Inti Silver (t8). Intl Tel & Tel Inter Dept St.(2 Intertype (fi1% Inland Cresk Conl Manville (3).. 14 176% E & YLaugh pf(7) 30! 1 Jerdan Motor Car % K. Kan City flou <5) . X & C Kennecott ¢5). ... Kimberly Clrk(2%). Kresge Dept Stores 2 Kreuger & Tol(1.34). 444 Kroger Gr&Bak(cl), 41 ——— 127% Lambert Co (3).. 10 Lee Rubber & Tir 19 Lehigh Valley Con! 34% Leh Val'Coal pf.(3). 77% Lehigh Valley (3%). 51 Lehn& Fink (3). Liggett & My (16 42% Loew's Ine (13) Loft Irc lLong Bell Loose- Wil Lorillard (P) Co. Louisiana Of1. . LouG&FIA (1%) TLouis & Nash Ludlum St McKes & Rb pf(3%). Mack Trucks (8). Macy & Co (cf2) ... i Madison 8a G (1%). Magma Copper (5) .. Man Eleo Supply. ... 4 Manhat Elev gtd (7). 10s Man Shirt (2) 2 Marland Oil. Marmon Motor (4). May Dept Strs (4)... Maytag Co (12)..... Maytag Co pf (3). Maytag Co 18t pf(6). Mengel Co. . Mexican Seaboard. Miami Copper (4) Michigan St1 (2%3). Mid-Continent ® (¥ Middle Sta Miller Rubl Mil EI R&L % Minn Moline Pwr. .. Minn Moline pf 634 Minn & St Louis Mo Kan & Texas. 2 Mo Kan & Pex pf (7). g ouri Pacific. ... Missouri Pac pf (5). 4 Mohawk Mills (234) . Mont Ward (2%)... 4 Moon Motor, % Morrell J. (3. Mother Lode (40c). . Motion Pletur Moto Meter A. ... Moto Meter A at. Motor Wheel (2). Mullins Mfg. .. Munsingwear. (18%) Murray Corp (a8)... 28! N- 4 Nash Motors (6). 18 83 Nash Chat & Kt 1(7) . 100-216 Natl Acme (1). a7 ($1). t! Bel Hes pf (7). . t1 Biscuit (6). atl Cash Reg (14) Natl Lead pf B (8).. Natl Pwr & Lt (1), Natl Supply (i8). Natl Surety (§) Nevada Copper (3 Newpert Co A (%) 120%| Ratimates of the volume of trafc North Am pf (3) No Ger Lioyd (3 OlvrFrEgpfA(S). 8 90% Otix Blevator (6) Otin Stee! 41 41% 40% 4 Pacific Coast 2dpf. . 31 Pacific Gas & ¥ (3) Pacific Lig! 04 Dactnc ) | forests also. Grazing fees are Pan-Am Pete B Paramount-F-L Park & Tilford (13) . Park Utah (30¢).... Pathe Exchange. Pathe Exchange A Patino Mines (3.8 Peerless Motor Car Penick & Ford Penn Dixie Cement Pennsylvania RR(4) P Marquette (18) . Pere Marq pr pf (5). Phelpx Dodge (3) Phila& Read C& 1. Phillips Pete (1%) Plerce il pf ... Plerce Petroleum Pillsbury Flour (2).. Pirelli Co'A (288). Pitts Steel pf (7) Pitts Terminal Coal. Pitta & W Va (6) Postum Co (3). Prairie Pipe L (14) Pressed Steel Car ETIoT PRSP 8y SBunnn B T pi 108% Pub Sve NJT pf (6 124% 117% Pub Sve NJ pf (7 91% 78 Pullman Corp (4) 308~ 28% Pure Ofl (13%) 139% 109% Purity Bakeri. 3 POV P 6810 Radio Corp.. 74 Radiopf B (5). Radio-Kelth-Orph A. Reading (4)..... Reading 2d pf (2) Real Silk Hosiery Real Silk Hos pf(7). Reis (R)&Co....... Remington-Rand i Reo Motor Car t1 Rep Brass Corp. .. Rep Iron & Stl (4). Revnolda Th B(1.49). Richfleld Oi) (2). Rio Grande Oil (ki Ritter Dental (2%) Ro 1ns (2.20) Royal Bak Pwdr(1). Roval Bak P pf (6) Royal Dutch(a1.33 e Safeway Stores (3).. St Joseph Lead (3). St1.-San Fran (8)... St 1, Southwestern 1 Schulte Retafl Strs.. 11 Seaboard Air Line... & Sears Roebck (31274). 42 Seneca Copper 2 Sharon Stl Heop (1). 12 Shattuck F G (2).... 2 Shell Tinfon (1.40). .. 13 Shubert Theater (5). 2 Stmmons Co (3). . 120 Simms Pet (1.60).... 20 Sinclair Ofl (12%).. 72 Skelly Oil (2) 12 Snider Packing So Por Rie Sug Southern Cal Fd (2). Southern Dairiex A Southern Pacific (§ 1ding A G (1.60). Spang-Chalfant. ... Sparks Withing(4) . Sparks Withing new . Spencer Kelg(1.60) Spicer Mfg.. Spicer Mfx pf (3) . Stand Gas & El (3%) Stand G & E pf (4).. Stand Oil Calif (i3). 52 Stand OJIN J (12)... 27 Stand Ofl N Y (1.60). 34 5 Stand Plate Glasss.. 1 Stew-Warner (3%).. 4 Studebaker (7). Submarine Boat. Sun 011 (g1). Superfor Oil. Superior Stee Tenn Cop & Ch (1) i Texas Corp (3).. Tex Gulf Snl (4) Texas P C & Ol ( Texas Pac Land Tr.. Thatcher Mfg . The Fair (2,40) Tide Water Asso By the Associated Press. As matters stand now the Govern- ment will be able to sell off only about one-sixth of this year's tree crop on | its national forests and hasn't any chance of selling the full annual yleld for_a long time to come. This prospect, while sufficiently dis- mal for the ordinary private icul- - with & good leal of equanimity by the men Who the vast acreage of the national- lfl!flt gs in view of other considerations than immediate timber yield which for- mulate its es. At that, as Col. R. Y. Stuart, chief forester, calculates, tim- ber sales this year from national forests will amount to possibly u.mm their total, tending to with the years, may some day uqu:) annual growth. - They will run for 1929 to & billion and & half lumber Iaet, and will constitute about 2 per it of total Jumber production in the NI“QB. “It isn't the pom:y o( the Govern- ment to force timber to ,” Col. Stu- art said of the -Ilu-non, “and ptmbly never will be. proprietor of 150,- 000,000 acres of Jand, mow distributed ull ‘both sides of the continent, it has many “':w: m for;fin !lre put. If soms y 200,000,000 feet of standing timber' to | start a new lumber tion on na- tional forests. in ‘view of present condi- | tions in the lumber market, there might be & complete refusal to sell. If any l‘hblllhox local piant needed more 1t would be sold unhem.-nfl!t tendency to increase at s rate of about 8 per cent annually. A number of other things than timber come from national large, and last year there were 23,008,000 visit- ors to forests, or 26 per cent more than |° the year before. The expenditures aren't met from the revenues yet, but there are large amounts of road build- mg and other capital investment enter- into the expenditures.” n the ldzll of forest management on the national holdings lumber will be a regular thou!‘h long-time cro] fll'lt IDDXOI to-the ideal will be made the next two or three years in the lllck Hills region of South kota. ‘There the second yellow pine 3 replace e-mmn helun under mnminl lul?lnl 1900, is now urity, Lumber oper- S SE e underwen cutting "rl‘:!n the forest came under Govern- ment nonfiol hm e Jret il civels of opee~ wl of oper- *tion will be ‘completed, will be some. what better timber tha the Go ‘wil will be just about what the It will all be decade.” ook, the cetve for it 1 stand for the 19! 5415 9 166% b Ba% 8 69% | uM'J in April. Tign low i 22% Timken 73% Timken 58% Ut 16 USCst 128 USInd 157% U S Sted 61 Vadsco 27 Van Ra 36% Virgink 50 Vulcan Wilcox Wilcox Wilson Wilson 85 Woolw: 43 ' “Worthi 61% Yale & 34% Yellow 524 Young 28 Ches& 4% Colum Dividend rates 177 | cash_payments based J6sg | aration. 2 6% | 8Bl :h'f ¥ 21% | Foiti®los, & 3780 | § Bhun &% nn".{';:f(' Tobaceo PrAet....., Transcontinental Transue & W (1) 38% Trico Prod (2%) 19% Truax-Tr Coal(1.60). 44% Truscon St1 (31.20).. 78% Utd Ajrcraft&Trans. 116 6814 Utd Alreraft&T pf 183 83 8 Utd Biscuit (1.60). Utd Clgar Stores(1). 14 1w 1 ‘orporation . 76 Utd Corp pf (3). 61 Utd Dyewood Utd Electric Coal(3) 27 U S Cast Irn Pip (2). 19% U S Leather. .. A8 US Leather A (4). 43 81 U S Realty (5) P 87 42 U S Rubber 78 U 8 Rubber Ist pf. 48 U S Smelt Ref (3%4). 1 140 1 S Steelpt (7)..... 136 17 S Tobacco pf (7).. 141 141 10% 1/niv Pipe & Rad. . 12 -12. IF-A8 35 Util Pwr& Lt A (s2) 68 Vanadium (14) xn' 110 Vietor Talk pr pf(1). 9% Virginia- 45 ValronConl&Cpf. 208 45 45 45 45 ® Wabash. . Waldort Systm (1%4) | 23% Walworth (1.20) Ward Baking B. o 10 ‘Ward Baking pf % 76 13 Warner Bros Pict. .. Warner Bros Ple ( 4 59 28% Warner-Quinlan (2). 63% WessO&Snpf (4).. 137% Westngh EI&M (4) . 49% Westvaco Chlor (Z) 30% White Enale O1l (Z). White Motor (1).... 42 A% White Sewing Mach. ~ Willys-Over (c1.20). 21 192% Woolworth Co (6)... 109 Wright Aero (2) 70, 'Wrigley W (et3%). . 76 26 75 RIGHTS EXPIRE % Alleg Corp. 3 AmTel&T..July 1 4 3%, ¥% 17% Anaconda 1% Balto & Ohio.Tune 20 2% 2% 4% Can Pacific. 18% Chen Corp...June24 . © 6% Colum Graph ....... 31 s 6% 2% Int Tel&Tel % LoftCo. . . ) 2Unit of trading less than 100 shares. ¢Bartly extra. LT nflflr Tate.. IP-!IE B stoek i FINANCIAE. Dlt Ax 180 Roller (3).. 14% 16 144 18% 10% 11 10% 46 45 120 120% 3% 3%% 35 89 89% 89% AT AT% ATS 224% 224% 225% 17% N7 88 47% 17% 631 63% 63% 461 47 48% 14% 14% 14% 37% 39% 36% 117% 121% 116% 32 33 82 1P 1st(1.20 17 17 18% Alco (6). 179 182% 180% 24% 24% 25% 43% 43 89 87 AT% A9% 484 75% 6% 76% 54% 56 6% 116% 176% 175% & 140% 140% 140% 139% 463 47 el (7). . 13 4 4% A1% 42 Sales. . 9 8% 9% 8% 80% 80% 5 36 36 36% 3 116% 115% 115% usv. 11% by 1 40% lfl' 40% 40% alte. ... r Chem.. 14 Car 6% pf.. Detinning... 108 73 78 18 6 64 64% 64 2 19 29 28% 42% 4% 10% ; 116% 118 117 59% 694 30% 31% 30% 63% 634 6a% 106 106% 106 25% 2B% 25% 41% 41% 41 34 34 34 185% 186% 187 46 A6 . 46% 161% 162 e 68%a 681 34% 34a 214% Rieh(A)2% . . 45 Rich (B)e2 445 & Co . A1y & Copf S 62 210». 219% 219 orth Co % 87% 88% 8T% ngton P B50% 50% 51% 120% 121 1207% Towne (4)... % 1 Truck &C. .. 38% Sp&EW (12%). : % 72 3812 38% 61% 62 | .June 17 4 W % .June 18 20% .June 18 7 .June 17 5 5% Ohie. .July 1 29 171% Gas&kEle 1% S sien in_the sbove table n"the 1at Ty or half r&rl“%ou:-l stock o' l\u l-s o ble Hock. Pl o K nnm“fl i stoek. sin gmi S’I’ OCK MARKET ON UNCERTAINTY OF CREDIT| | By the Associated Press. NEW YORK, June 15.—The stock | mkc; which el conflicting t credit for many months, finally cracked under the strain. Some $3,000,000,000 in quoted values was spilled and lost before the chinks could be plugged. S iy s, e B g2 § indutriak, prepaced after e ‘clofe of n basis of stand- ard musua wmput.ltlnns. dropped from a record high level of 2254 on May 4 to & new low for 1929 at 201.7 on the 27th. Gyration in May. Curiously enough, the market reac- tion during May occurred despite col paratively easy call money rates of 6 or 7 per cent. Preceding breaks, particularly those of June and Decem- ber, 1928, and of last March, were in- fluenced in a large measure by mfln‘ rates for call loans. The May market was characterized by four successive diazy tumbles, each | followed by a partial recovery lar'elv attributable to short wvm Al- tho call money was in fairly good all the month, two of these dips | | were directly attributable to credit un- certainty. A flood of selling was set in motion May 13 by pubmaunn of the Burgess- Sprague report, prepared for President Hoover's (’ojl.lfllm on recent economic changes, which stated that the su- been harassed by | regarding IS TRIPPED premacy of the New York money market | was threatened by gyrations in the call money rate. The index of 50 industrial stocks was depressed 6.3 points that day. The next severe sinking spell was a | week later, May 20, amply d-nonm-:!- ing the fighty mh of mind .of, the market. The decision favorable to the Toads in the.St. Louls & O'Fallon. case was announced that afternoon and was heralded as the most bullish develop- i ment of the year. | dumped their lndll.‘ltrhh on the market to buy rails, htened at | to sell everything. The inde - et o index was de- Advisory Council's Recommendation. Two days later, publication of the Federal Reserve Advisory Council's recommendation thu Eastern Reserve | banks be permitted to raise their re- discount rates, eomlnl on the heels of | the dhlwohl Tesponse to tl Ie":.um. decision. caveed: one of the | ,in Tecent years. The in- dex droppe On the I'Ilh the mrk!( again col- lapsed, this. time in sympathy with the | break in- grain prices, The index fell Both big and little investors have suffered, but Wall street is inclined to feel that the declines have given the mlrket a !Dflnl housecleaning. and meets destruction, in a representa- tive sense, while it is still young. That comes. "b?;u::: j s drawn in large seaside and put through sutom:#ic vending machines. “That most lmn l|lne;..,l :e.d“ away uthe metal amaz- y. peanuts particularly, as sold in the slot machines, are very y)lll’fl on the copper colnage, and the effects are noticeable on silver coins. The | chemical action of salt and water be- | gins the disintegration of the metal and the pressure keeps it up.” BUTLDING connim Corpora nprnenu L dudlm nrl receding month ai rrom May, 1928. e | CHEVROLET ORDERS UP. o NEW YORK, June 25 UP.—Unfiied npoma at m%um :hudoo ‘his hhhd cars the vloua high monthly fbhl of 157,522 Ings has been experiens 1ines this Spring. and the m:,v-nuu. it maintained at the rate produced, will — ANCE n & 12 per cent‘ among better grades she stock, mvn’ud CHICAGO LIVE STOCK MARKET CHICAGO, June 15 (8 (U. 8. De- | partment of Agriculture)—Hogs—Re- ceipts, 11,000 head, including 9,300 di- | rect; market uneven sround steady, with | Friday's close, or 10a15 lower than the average: top, 11.20 paid for selected 190-pound averages: bulk, 160 to 140 pound kinds, 10.80a11.10; shippers, 300; estimated. holdover, 3,000;. butchers, | medm to choice 260 to-300 pounds, 110.40210.95; 200 to 250 pounds, 10.60a IIU: l:‘é to m ?gllndl, 10,50811.20: pout 25a11.157 packing sows, 9.00010.00; p medium to choice, 90 to 130 pounds 9.75a11.00. elpts, | P, ' with . weights; | nominally firm: grassy cows and heifers | 25875 lower; grain, fed kinds abouf | off: cutters 'and bulls steady to strong: vealers, strong to 50c higher; stimulating factor 'in_steer ipper demand brosd extreme top, 15.40, & new high for season: best heavies, 15.35; long yearl 15.25, and heifer year- lings, 15.10; bulk fat steers, 14.00815.00; very little_under 13.50. , 4,000 head, AW di- 00 Late for. week : lambs, 15.80; .85, yurllnn . 1 natives, 15.65; SILVER QUOTATIONS. NEW YORK, June 15 (#). —Ilr sil- ver, 528 ; Mexican dollars, 39’ ITEII. )m.u ACTIVE. But as traders | | 7.7 points to a new 1929 low. | Tosted. RAILS AND COPPERS LEAD STOCK GAINS Market Irregular at Week End Session Due to Profit-Taking. BY STANLEY W. PRENOSIL. Associated Press Pinancial Editor. NEW YORK, June 15 (#).—Exten- sive ‘week end readjustment of specu- lative accounss broughs about som irregularity in today's market, but major activity was again on the upsids, with the ralls and coppers in the fore- front of the advance. Extreme gains in the active issues ranged from 1 to & points, with Adams Express making it first appearance on the tape this week soaring 24 points. Sees Easier Credits. Wall Street generally looks for fairly comfortable call money rates until next ‘Wednesday, when the mid-month dis- bursements are expected to cause a temporary stringency. Recent imports of gold, though moderate in volume, and the gradual easing of time money rates have helped to revive bullish enthusiasm. Increasing purchases of Government securities and commercial paper by the Federal Reserve banks also have helped to create a more cheerful feeling despite official inti- mations that it indicated no change in credit policy. Rails were under fairly steady se- cumulation in the belief that the ma- Jority of the first half-year statements would make excellent comparison with the same month last year. Pere Mar- quette ran up 6 points, New Haven com- { mon, St. Paul preferred and New York Central, about 2 each, and at least a dozen others advanced a point or more Commonwealth Power extended its gain 'to 8 points by touching s new high at 246. Bohn Aluminum, Air Re- duction, Motion Pictures, Inc.; National Distillers common, United Aircraft and Simmons, sold 3 to nearly 5 points above yesterday’s final quotations. Coppers continued to respond to the favorable May statistics of production and eonsumpuon. Greene Cananea moving: up 3 points and Anaconda 2. Profit-Taking. Montgomery-Ward again e- low 110, or sbout 8 points bel the high established yesterday just prior to the announcement of the issuance of g-ur Wori: yielded at least 3 points each on profit- taking. ’rhe closing was firm. Prices moved irregularly higher "at the opening. -Auburn - Auto ovened 4 points -higher, Marmon 2 and Borg- Wlmer. Columbia - Carbon. National Biscuit and Howe Sound showed initfal nuu of a point or more. General Elec- tric dropped 3 points and Coty 1. ! Prices. were churned about in.rather erratic_fashion during ing. Wall Street found encouragement in the report of the Federal Reserve Board that high money rates’bad not adverssly affected busivess, and-also in the Government’s cotton consumption report, which showed unusually heavy ings by domestic spinners. Irregu- larity was most proncunced in the pub- lic utility group. Commionwealth Power diped 3 points to 235-and then Te- bounded to 240, :nol:hzr new high rec- . Telephone and Public recorded early gains of. & poln' pressure developed in Am Works, and the stoek auickly sold down Columbia - Carbon and -National B cult were in fairly ‘gopd dam-na at ing prices, A firm undertone :pwen; in dw ht Kroger Stores an the other. WT 7 uickly sol wn T c;nm/e’- and Curtiss |~ Rails showed an upward tendener. | with’ New Haven and Norfolk: & West- ern_climbing into new hlxh rlonmt exchanges -opened | with_sterling cables down lfl htly m “ 84 25-32, ATTORNEY IS FlNED $70.50 IN ALEXANDRM Candidate for Justice Enters Guilty ‘ Plea to Violation of Prohibi- tion Laws. ey became frig] the deeiine I Tt g hastensd | 3 Special Dispateh to The B ALEXANDRIA, Va., June 15.—Aylett B. Nicol, 45, local attorney, who has often served as police justice when Judge William 8. Snow was unable to hold court, ‘was fined $70.50 in Police Court by Judge Snow this morning when he entered a plea of guilty to 2 | charge of violating the prohibition law. Nicol was arrested list night in the 1000 block, Queen street. by Police Sergt. George Everly and Motor Oycle Police- man Lawrence E. Padgetf. Police say | he was intoxicated- and had one pint possession of llquar in his” when @ Nicol. who is candidate for eivil and police justice. subject to the Demo- cratic primary to be.held in August. was released several hours after his a: rest in the custody of former Police Ju tice Fobinson Moncure for his appea Efie in_court. « = MONEY “TO LOAN Consult WELCH Realtors Lean Specialists National Savings and Trust Bidg. I6th & N.Y. Ave. N.W. Main 4348 Legal Interest Our Only Charge Quick Service—Confidential - UNITED LOAN CO. Rosslyn,’ Virginia Jush across Key Bridre—Opoosite. Bank In Nearby Virginia 514% iegance co. Commonwealth Investment Co. | Loans 07 13th St NW. Phons Local bond hotse specializing in -high-grade bonds has an apening for thoroughly experi- enced bond salesmen. These men must have an established clientele. ~ Full co-operation furnished. \ Only those with stated quali- firaunnl will be considered. In- quiries will be treated confr NEW YOIK. June 15 (’).—Irvn and steel schedules the dentially. . Our men know of thit ad, Address Box 118-A,