Evening Star Newspaper, June 19, 1929, Page 14

14 = D. C. FINANCIERS G0 T0 BANK CONCLAVE Big Delegation Leaves To- night for Convention at Montauk Beach. BY EDWARD C. STO One of the record will leave Washington this eve- ning at 9 o'clock aboard a special train for Montauk Beach, Long Island, “where the eleventh annual convention of the District of Columbia Bankers’ Association will be opened _tomorrow. One of the most distinguished guests will be Roy A. Young, governor of the far-famed Fed- eral Reserve Board which plays such a tremendous part in the financial life of the country. Many other prominent bankers will also Jjoin the local con- tingent of finan- clal leaders, The guest list has grown in the past few days until the delegation now includes Mr. and Mrs. Roger J. White- Roy A. Youns. largest delegations on | High. 305% 21415 425 5 T3, 1341 20'2 “ 62 4% 104 151% 142 1064 0% 55 47 10815 103 119% 1883 ford, Russell A Howser, Harry M. Fridiey, Mr. and Mrs. A. L. Baldwin, Mr. and Mrs. E. C. Graham, Ralph P. | Barnard, Mr. and Mrs. Thomas J. Man- | gan. jr.; Charles W. Willlams. James O. | Watson. Mr. and Mrs. John Brewer | and John B. Cochran, president of the Franklin National Bank It was announced today that Victor | B. Deyber, president of the Second National Bank, will preside at the na- tional bank division meeting tomorrow, in place of Vice President Hilleary G. Hoskinson of the Riggs National, who will be unable to attend the conven- tion. In addition to Messrs Fleming and Waller, Vice President Lanier P. Mc- Lachlen and W. W. Spaid. last year's g resident, have also gone in advance to jontauk to help arrange for the open- ing of the business sessions or perchance to see that the golf links are in perfect condition for the lively cup competitions to_come. The sports program will start at 1:30 pm., tomorrow_with_the top-spinning contest for the E. B. McLean Cup, with J. Frank White as timekeeper. Howard | Moran won this cup in 1925 and 1926, Mr. White in 1927, and Charles L.| Taylor in 1928. It is marvelous how | they make the little hummers hum, ex- citement remaining at a high pitch until the last top has kesled over. The “Hibbs” Cup tournament takes place Friday afternoon and there are a host of other contests to be crowded into the three afternoons. The “Rich- ard Hatton” Cup will be offered for the first time this year as one of the golf rewards. The ladies’ outdoor putt- }nn contest takes place Saturday morn- Ing. Merchants' Transfer Dividends. The directors of the Merchants’ Transfer & Storage Co. yesterday de- clared the regular quarterly dividend of $1.75 per share on the preferred stock and the usual ‘5 per cent semi-annual | dividend on the common stock. Both are payable on July 1 to stockholders of record on June 21. | Yesterday was also the date for the annual meeting of the stockholders. Al | the directors were re-elected and John L. Newbold, jr., was added to the list. | Other directors include Willlam J. | Evynon, John N. Newbold, sr.; C. B. Buck, David P. Smith, Benjamin L. Prince, William F. Ham, Leon Tobriner, Donald Woodward, Thomas Dunlop and Albert E. Berry. John L. Newbold, jr. was elected | treasurer to succeed David P. Smith, Wwho becomes third vice president. John L. Newbold was re-elected president; B. L. Prince, first vice president; C. B. Buck, second vice president and secre- tary, and Frank G. McAloon, assistant | secretary. Consolidation in Nitrate Field. Negotiations between the Guggen- | heims, long in the front rank of the world’s copper producers and more re- cently interesfed in the extraction of Chilean nitrates, and the Lautaro Nitrate Co., Ltd., a British company, Tepresenting a consolidation of other companies in the Chilean nitrate field, have been concluded under the bank- ing auspices of the National City Co. ‘The transaction provides for the use by the British company of the Guggen- heim process for the extracting of Cilean nitrate, and brings to Wall Street the largest industrial bond issue of the year, involving $32,000,000 of 6 per cent convertible first mortgage bonds of the Lautaro Nitrate Corpora- tion, and offering one of the rare occa- sions where investors are given the op- portunity to purchase bonds of oune | company and stock in another com- pany in a single operation. To Attend Virginia Convention. Lawrence A. Slaughter, vice presi- dent of the Commercial National Bank, and a few other local bankers who have particularly close relations with Virginia banks are planning to attend the an- nual convention of the Virginia Bank- ers’_Association, which opens tomorrow at Old Point Comfort, the Chamberlin- Vanderbilt being headquarters. An un- usually fine program has been ar- ranged, the most prominent speaker probably being E. H. H. Simmons, presi- dent of the New York Stock Exchange. ‘Wholesale Prices Higher. ‘The wholesale price index of com- modities advanced six-tenths of 1 per cent during the week ended June 15, according to the wholesale price index of the National Fertilizer Association. ‘This follows an advance of three-tenths of 1 per cent during the previous week, and the index now stands at the high- est point since April 6. The largest ad- vance occurred in the group of grains, feeds and live stock, but material ad- vances also occurred in fats. foods and hides. Six groups showed advances and | only two declines. Bonds in Excellent Demand. Bonds were in strong demand today on the Washington Stock Exchange, Capital Traction, Potomac Eelectric Power, Washington Gas, and Anacostia & Potomac R. R. issues figuring in sev- eral $1,000, $2,000 and $3,000 sales dur- ing the session. Quotations were around | recent, levels In the stock division, Capital Traction | opend ex dividend at 92 and closed at 9113, with only four 10-share sales be- ing recorded. Columbia Sand & Gravel, which has lost ground recently. figured in one 10-share sale at 90. Ten shares of Norfolk & Washington Steamboat | stock commanded 300. Potomac Electric Power 5! per cent preferred came out at 106';, Railway & Electric preferred changed hands at 955%, while Riggs Na tional registered one small lot sale a 575 and another at 572. Federal-American Co. preferred sold at 101, 23 shares of Merchants Trans- fer & Storage preferred came out at 127, and 15 shares of Terminal Refrig- erating and Warehousing Corporation brought 51!,. Two hundred shares of Real Estate Mortgage & Guaranty pre- ferred changed hands at 7%, while 150 shares of National Mortgage & Invest- | ment preferred came out at 4% and more sold down to 4. Larson Joins Investment Firms. Dr. Carl W. Larson,. chief of the Bureau of Dalrying at the United States Department of Agriculture since | 1024 and for several years president of the National Dairy Council, will be- come assoclated on July 1 with the 813 130% R, 18% | 121% Tan 8 94% 111 60 2381 18618 188 121% 155 112 144% 104 AR% 49% 111% 140 86U 623 68% 491y 95 18% 10% 86 40% 30 58% 0% 471% 226% 1037% 6618 2% 115 207% 10 35% 50 71 125 138 8015 110 T6% | 110% 33% 291 494 113% 106% 291 101 934 93% 118% 123 136% 98 143% 634 18% 73% 8174 200% 554 423 50 117 5315 329% 110%a 1181 9% 12% 41 138 81% 135, 617 90% 2657 48% 331 52% 360 120 28% 230 mm 108 884 62% 105% 195 416 238 17815 130 investment banking firms of Arthur S. Kleeman & Co. and Frederick H. Hatch & Co. in enterprises comprehending the @alry industry. 65% 85 5474 885 1591 101 FINANCIAL. Stock and Low. Dividend Rate. 381 Abitibl Power & Pap 79 Abitibi P& P pf(6). Abraham & Straus. . 85 Adams Exp pf (5). 27% Adams Millis (2 27 Advance Rumley 401 Adyance Rumley 2 Ahumada Lead % Air Reduction (). 4 Air Wal E1AR(2%). 4’5 Ajax Rubber....... 12 Albany P W 27% Alleghany Corp. 241 166 Allis-Chalm Mt 2215 Amerada Corp (2) 104 Am Agricul Chem 40% Am Agricui Ch pf. 110 Am Bank Note (13). 15 Am Beet Sugar 40's Am Bosch Magneto. . 41 Am Brake Shoe 2.40 15'% Am Brown B E pf(7) '« Am Brown Bov pf 7. 107% Am Can (14).. 13915 Am Canpf (7).. 2 Am Car & Fdy (6). 46% Am Chicle (2) 4315 Am Com Ale (k1.60). 23% Am Encaust Til (2). 751 104%2 Am & For Pw pf (7). 88 Am & For Pw 2d pf.. 24'% Am Hawaiian (1). 38 Am Ice (13). 89% Am Ice pt (6) 5214 Am Internat (12). Am La Fr & Foam pf Am Locomotive (8). 113 # Am Loco pf (7)..... 147% Am Mch & Fdy (4).. 50 Am Metal (3).. Am Piano pf R14 Am Pow & Lt (£1) Am P&L plA st ( Am i <id San 2 Am Ry Bxpress 5 Am Roll Mill (e2).. Am Safety Raz (15). 315 Am Ship & Com. ... 811 Am Shipbuilding (8) 931 Am Sm & Ref (4). 107'3 Am Snuff pf (). 56 Am Steel Fay (3). 66 Am Stores (2). 71% Am Sugar Rfg (5)... 104% Am Sugar Rfg pt(7). 35% Am Sumatra (3).. 17 AmTel &Ca (5)..... 193% Am Tel & Tel (9) 160 © Am Tobacco (8). 160% Am Tobacco B (8). 115% Am Tobacco pf (8) 1361 Am Type Fdry (8) 107% Am Type Fdry pf. 67% Am Water Wks (c1). 97 Am Water W 1st(6). 18 Am Woolen..... 43% Am Woolen pf 4 Am Zinc Ld&Sm. 95 Am Zinc LAd&Sm pf.. 99 Anaconda Col b 62% Anaconda W&C (3).. 44 Anchor Cap (2.40). 44% Andes Copper (3). 29 Archer-Dan-M (2). 85% Armour Del pf (7). 10% Armour 111 (A) 5% Armour 111 (B) 72 Armour 111 pf (7) 19% Arnold Constable 2414 Artloom (2)... 49% Asso Appl Ind (4). 43 Asso Dry G (2%) 4014 - Asso Oil (2)... 1951 Atch T& S Fe (10).. 99 Atch T&SF pf (5). 3214 AtlG & W Indles 45% AU1G & W L pf (4) 5313 Atl Refining (t134).. 90 Atlas Powder (4) 221 Auburn Auto (j4). 5% Austin Nichols. 3 2214 Autosales. . 424 Auto-Strop 106 61 Az (3).. Bales— Add 00. High. Low. Closs. of. J 108 . 308 THE EVENING STAR. WASHINGTON, For Complete Compllation of Sales See 5:30 Edition. ~Prev. 1920~ Prev Close. 43 83 106 856% E3en 42 4 43% 2 82 82 10 110 105 1 85% 86% 1 31% 3% 3 40% 40 b 61n 61 w2 1497 145 5 42 ™ 5% 198, 330 101 1008, 4212 434 82 109 /5% an, 40 6115 5% 20 34 100% 10015 20 341, 101 1001 103% 1024 145'% 13915 1397 98 305 105% 10315 20s 55 60% 124% 122 13 13 4 165% 164% Am Nat Gas pf (7).. 21 114% 114 62 61k 8 4 4 80s B3 834 34 1045 103% 10724 107' 667 64 6612 6615 TR e 10612 1062 39 39 28 23 2161 215 170 170 171 170 1154 115% 145 145 108 108 144 140% 100 100 18 18 435 42y 308 20 9% 944 111% 109% 69 68 45 447 53% 52 33 328, 8R 88 10% 5% 728 22 26% 264 58% 57w 481 48% 4415 43 27 220% 217% 2 1024 1024 9 62u 61% 3 e55% b5 108 T1% 695 24 9913 981 7 28215 278% 28 Bla 6 62 33% 31% 3 4002 40 81 145 108 143 100 1815 43 304 945 110 69 45 5215 325 88 10% B 2% 22 261 578 a8y 43 218% 102% 621 5h% 70 9874 278% 198 . 210 Baldwin Loco (7). 114% Baldwin Loco pf (7). 115% Balto & Ohio (6). 75 Balto & Ohio pf (4).. 104 Bamberger pf (6%) 6412 Bang & Arool (3%). 105 Bang & Aroos pf ( 26 Barker Bros (2)... 7 Barnet Leather. 38% Barnsdall (2) . 87 Bayuk Cigar (2).. 100 Bavuk Cgr 1st pf 20 BeaconOil.......... 73 Beech Pack (3). 78 Bendix Aviation (2). T5% Best & Co (3) 824 Bethlehem Steel (4). 116% Bethlehem St pf (7). 110% Bohn Alum&Br(t4).. 831» Borden Co (3)....... 107 Borg Warner (j4). 30% Briggs Mfg. 5% British Em $11 24 pf. 4215 Brockway MT (3)... 604 Bklyn-Manhat (4)... 170 Bklyn Union Gas (5) 3815 Bruns-Balk-Col(3).. 25% Bucyrus Erie (1).. 38% Bucyruscvpt (2%). 112 Bucyruspf (7). B 46 Bullard Co (1.60) 234 Burr Add Mch (15).. 103% Bush Term deb 110 Bush T Bldg pf ( 415 Butte Copper & Zine. 6% Butte & Superior (2) 28 Bu 104% By-Prod Coke (13).. . 108 . 60s 31 244 234 208 120 119 84 123% 122% 1- 76 78 10s 108 108 5 76% 76 1074 1074 6 28 28 1 11 11% 25 41% 40% 4 99% 99 100'2 100% 29% 2714 831 834 851 82% 88 85% 3 108 105% 2 118% 118 1117 116 91% 90 117% 115 35% 35 6 6 52 49 631 623 203% 190 401 40% 30% 29% 421 42 114 114 4915 481 303 308 104 104 15 115 b4 % ™M T 32 32 120 120 40 1 28 31 me e 7214 Calif Packing (4). 124's Calumet & Ariz (10). 36% Calumet & Hecla (4). 78 Canada Dry G A (5). 218 Canadian Pac (10).. 38 Cannon Mills (2.80). 320 Case (J1) ctfs (6)... 40% Cent Alloy Steel (2). 305 Cent RRof NJ (112). 88% Cerro de Pasco (6) 164 Certain-teed Prod... 195 Ches & Ohio (10).... 7813 Chesapeake Corp (3) 11% Chi& Alton... s 14 Chi& Alton pf.. 38 ChiGreat Westn pt.. 27% Mil St P&Pac 46'% Chi Mil St P&Pac pf. 801 Chi&NW (4).. 281 Chi Pneu Tool. 481 Chl Pneu T pf (3%4) ChiR1& Pac (7). 29 ChiYellow Cab (3).. 381 Chickasha C Oil (3). 447 Childs Co (2.40).. 66. C: rvsler Corp (3). .. 507% City Ice & F (3.60). . 20% City Stores (1) 120% Coca-Cola (4). : 48 Collins & Aikman. .. 56 Colo Fuel & Iron 101 Colo & South (3). 70% Colo & Sou 18t pt (4) 5315 Columbia G&E (2). 103% Colum G&E pf A (6). 5813 Couml Graph (29.1¢) 121% Columbn Carbn t4%. 43 Com Credit (2)... 95% Com Crd 1st pf(8% 131% Com Inv Trust (14). 225% Com Solvents (h8). . 107% Comnwealth Pwr 14. 1915 Congoleum-Nairn 69 Cong Cigars (15%). % Conley Tinfoil sta 76% Consol Cigar (7).... 84 Consel Cgr pr pf 6% . 5 Consol Film In pf(2) 4 Consol Gas (3). Conso! Gas pf (5). .. Consol RR Cub pt(6) Consol Textile...... Container Corp A. 6 Container Corp B. 47% Contl Baking A. 814 Contl Baking B. ntl Baking pf (3). ntl Can (2%). Contl Insurance (2). ntl Motors (80¢). 82 CornProd (13).... 51 Coty Inc (82). 22% Crex Carpet. 86 Crosley Radi 43% Crown, Cork & Seal 85 Crucible Steel (5) 1% Cuba Cane Sugar. . Cuba Cane Sugar pf. 98 51 9 17 11 Cuban-Amer Sugar 6014 Cuban-Am Sug pf. 3 Cuban Dom Sugar. 117 Curtis Publishing (6 113% .Curtis Publish pf(7) 1354 Curtiss Aero (1). 1204 Cushman's pf (7)... 584" Cutler-Ham (3%4). 63 Cuyamel Fruit. ).550s ..1138 %15 130 129 43 421 8815 884 2291 2273 31 “iag 323 320 45% 44y 311 311 9915 99 26% 24% 220% 220 86% 84% 138 13% 18 18 427 31% 50% 84% 341 52% « 126 126 29 283 381, 384 53% 4% 5012 21 13015 13016 54 BIN 59% 115 208 71 526 % 4 1068 69 5875 13 172% 170 263 49 44 101 100 18 154% 149 4412 407% 230 227 20% s » P e e - T 18014 53% 17 21 6 3 1 108 3 125% 128% 1 98y 98% 2 5313 2D . 3 3 B 15% 25 7 15 81% 37 13% 3 96% 39 7% T0% 5 82 25 18 20 931 0 61% 2 30 30 i 931 43% 9614 214 6% 18% 140 64 3 3 1238 128% 17 116% 11 163% 158% 908 120% 120 7 61 60% 1 88 8% —D—— 69% 42% Davison Chem. 10 50% 49 —Prev. 1920~ Hish 128 207% 133% 4% 164 Stock and Dividend Ra Deere & Co pf (7). .. Delaware & Hud (9). Del Lack & W (17). . Devne & Ray A (13). Low. 116 182 1204 4313 130 Dome Mines (1). Drug Corpn (4) Duluth S S & Atl Duplan Silk (1). Du Pont de N(f434). Durham Hoslery pf. Fastman Kod (1%).. Faton Axle & S (3).. Eitingon-Sch (2%). . Elec Auto Lite () 208 8 5 2 Diamond Match (8). 870s El Auto-Lite pf (7). . 2 ol Pwr & Lt (1)..... El Pwr pf 50% pd (7) ElPwr& Lt pf (7).. Elec Stor Bat (5). Elk Horn Coal pf. Emmerson-Brnt A Eng Pub Serve (11 FrieR R Erie R R 1st pf Erie RR 2d pf. . Fvans Auto L(12%). Exchange Buf (1%). F- Fairbanks Morse (3) ‘airbanks M pf (7) .. Fed Lt & Tre (11%). Fed Lt & Tr of (6) Fed Motor Tr (80¢). Fid Phen F Ins (2).. Fifth Ave Bus (64c). Filene's Sns. Filene's pf (8%)... First Nat Stores 1% . Fisk Rubber. . . Flelschmann (13%4) . Follansbee (1234). Foundation C: Fox Film A (4) Freeport-Texas (4). e "nh 1el Snub A Gardner Mot Gen &m Tnk Car($4) ien Asphalt. Gen Bronze (2) en Cable Gen Cable A (4). Gen Cigar (4) Gen Electric ( X Gen Flec spec (60c). Gen Gas&El A (e1%) Gen Mills (3)....... Gen Motors (13.30).. Gen Motors pf (7)... Gen Outd Adv A (4). Gen Outd Ad vte (2). Gen Ry Signal (5). Gen Ry Sig pf (6)... Gen Refrac (13%). . Gillette Safety R (5) Gimbel Brothers. ... Glidden Co (11%). Glidden pr pf (7) Gobel (Adolf). Gold Dust (214). Goodrich BF (4) Goodyear Tire (5) . Goodyear 1st pf (7). Gotham Silk H %) Graham-Paige. . Graham-Paige ct. Granby Consol (7) Granite City St1 (3). Grand Stores (1) Grant W T (1). Grt North pf (5) Grt North pf ct (5).. Grt Nor Ore (a1%).. Grt West Sug (2.80). Grt West Sug pt (7). Greene Can Cop (3). Gulf Mo & North 4 Gulf Sta Steel (4)... Gulf St Stl 1stpf(7). H- Hackensack W (13%) Hackensack pf (1%) Hacken pf A (1%) Hahn Dept Stores. .. Hahn Dept S pf(6% ) Hanna (M A) 18t(7). Harbison Walk (2). . Hav El Rwy pf (6)..1 % Hayes Bdy (b3 %stk) Hershey Chocolate. . Hershey Choc pf (4) . Hocking Val (10). Hoe (R) & Co. . Holland Furn (e2%). Hollander & Son. Homestake Min (7). Houd Hersh B (134). Household Prd (14) . Houston Oil. Howe Sound (4) . Hudson & Man (234). Hudson Motor (5). .. Hupp Motor (£2).... I Tllinois Central (7).. Independ Ofi & G (2) Indian Motor Cycle. . Indian Refining. Indian Refining ct. Industrial Rayon Ingersol Rand (5%). 4 Inland Steel (3%4)... Inspiration (4)...... Interboro Rap Tran. Intercontinental Rub Intl Agricultural Intl Busin Iatl Cmb Eng pf (7). Intl Harvester (2%). Intl Harvpf (7)..... Intl Match pf (3.20). Intl Mer Marine. % Int! Mer Marine pf. Intl Nickel Can (30c) Intl Pap & P A(2.40). Intl Pap & PwrB.... Intl Pap & PwrC.... Intl Ry Cn Am p£(5) .1 Intl Salt (115). Intl Silver (18) Intl Tel & Teleg Inter Dept St (2) Intertype (f1134). Island Creek Coal(4) — Tewel Tea (1614) Johns-Manville (3).. 82 96 2 2 16 608 4 208 12 10s 1 ! 108 2 10s 4 25 130 1 1 8 116 RuawsReSea H ] [P aRod 608 208 . 108 16 3 308 108 108 14 3 4 408 i 8 3 27 495 5 6 23 008 408 10 251 5 2 2 1 14 Sales— Add 00. Hish. 120 196 126 45 168 41 107 109 29 14% 95 T5% 108% 32% 56la 103 514 61% 81 124% 10115 43 Ab% 29% 787 454 864 120% 1101 1061 28% 35% 113% 154% 417 60 1021 26% 28 57 17’6 100 96 59 2% 431 87hs 1% 471 20% Al 17 3 481 681n T8l 68%, 401 857 47T% 137% 2% 33 5214 1448 178 Jones & Laugh pf(7) 1008 121% Jordan Motor Car Kan City Sou (5).... Kayser J & Co (5)... Kelly-Spring Tir: Kelsey Hayes (2). Kelvinator Corp. .. .. Kennecott (5)....... Kimberly Cirk(3%). Kinney (GR) (1)... Kinney (G R) pt (3). Kolster Radio. ... Kraft Ph Ch (1%) Kresge § 8 (1.60) . Kresge Dept Stor. Kresge Dept S pf. Kreuger & Tol (1. Lambert Co (8)..... Iee Rubber & Tire. igh Valley Coal. Lehigh Valley (3%). Lehn & Fink (3). . 4 Liggett & My (15)... Liggett & My B (16). Lima Locomotive. .. Link Belt (2.40) . Liq Carbonic (14%). Loew's Inc (13)..... Loew'sptx w (6%). Lott Inc. . - Wiles (2.60).. Wiles 15t (7). Lorillard (P) Co.... Louisiana Oi1. : LouG&FIA (1%).. 2 Louls & Nash (7). Ludlum Steel (2) Mac A & Forb(12.85) 97% McCrory A (2) 97'% ‘McCrory B (2) 6215 McKeesport T P (4). 49 McKesson & Rob (2) 55 McKes & Rbpf(3%). 91 Mack Trucks (6).... 148 Macy Company (13). 35 ManatiSugarpf.... 25 Man Elec Supply. 31% Man Elev mod (d§) 25% Man Shirt (2). 23% Marland Oil......... 6914 Marlin-Rockw (t4), 66% Marmon Motor (4). . 42'% Mathieson Alk (e¥) 7312 May Dept Strs (4) . 19 Maytag Co (12).4.4 391 Maytag Co pf (3). 80 Maytag Co £06). 56' Melville Shoe (/1.40). 20 Mengel Co. 24 Metro Gol 7u 3. Mexican S Miaw Coppae (4) - 36% 30% 85 Michigan St/ (2%).. 3 [3 2 20 74 12 127 2 32 Snn 16 10 1 20 6 208 16 13 399 ~=3n....._a.~—aa Jl“ 39 70 b59% 98 36 32 345 79 803, 501 4% 208 3915 82 604 23w 24% II% 103% IM 1 1431 %0 9% 625 " 117% 26 12% | 445 94 a9 9813 100 70 50% 59 97% 171 35 26 a8y 32 35% 79 81 51% e 20% 3915 81% 59 23% 24 lflk 1038, 104 D. Stock and Sates— Dividend Rate. ~ Add 00. Migh. Low. Close. Close. 34% 3% Mid-Continent P (2). Middle States Oil. Midale States Oil et.. Miller Rubber. Minn Moline Pwr. Minn Moline pf 6%. . Minn & St Louis. MStP&ESSM MStP&SSM1 Mo Kan & Texa Mo Kan & Tex pf(7). Missouri Pacific. ..... Missouri Pac pf (5). % Mohawk Carpet $2% . Mont Ward (214). Moon Motors . Mother Lode ( Motion Picture Moto Meter A. Moto Meter A et. Motor Wheel (2) Mullins Mfg. . Munsingwear (1334) Murray Corp (a3) . N + Nash Motors (6) 15 Natl Acme (1)...... 18 s Natl Air Trans [ Natl Bella Hess($1). 7T Natl Riscuft (+6%).. 12 ‘s Natl Biscuitpt(7).. 2 h Reg (f4).. 20 iry (£1%)... 115 atl Dept Stores.... 1 4 Natl Distillers p(7). 1 Natl Lead (5). 18 Natl Lead pf A (7).. 108 Natl Pwr & Lt (1)... 395 Nevada Copper (3 41 NOTex &M (7) 508 Newport Co A (3)... 81 N Y Air Brake (3)... 38 N Y Central (8). 185 NYChi&StL (6) 1 N Y Chi & St L pf( N Y Dock. ... Y & Harlem YNH&H4) YN H & H pf ( Y Ont & West. \ 2 '-Honmv\f(h . Norfolk South (2%4). Norfolk&Wstn(t10). orfolk&Wstn pf(4) orth Am(b10 9% stk) orth Am pf (3) orth Am Ed pf o Ger Lioyd (3.41). Notthern Pac (5). North Pac.ct (5).... Norwaik TFire & Rb. . 33 - 278 011 Well Supply. . Oliver Farm Equip. . Olivr Fr Bp cv pt(3). Olivr FrEqpt A(§). 2 Oppenheim Col (5).. 17 Orpheum Cir pf(8).. 80a Otis Elevator ( Otis Elev pf (6).. Otis Steel. .. Pacific Gas & E (2).. 327 Paeific Lighting (3). 51 Pacific Oil stubs. 4 Pacific Tel & T (7).. 608 4 Packard Motor (15). 98 Pan-Am Petroleum.. 1 Pan-Am Pete B. 433 Paramount-F-L (3).. b1 Park & Tilford (13). Park Utah (80c).... Pathe Exchange Patino Mines (3.8%). Peérless Motor Car. Penn Dixie Cement. . Penn Dixle Cm pf(7) nsylvania RR(4) People’s Gas Chi (3). Phelps Dodge (3).. Phila Co (17)....... Phila Co 6% pf (3).. Phila & Read C&1.. 2 Philip Morris (1). Phillips Pete (134).. Pierce-Arrow A..... -Arrow pf (6). Pierce Petroleum. . Pillsbury Flour (2) Pirelli Co A (2.88) Pittsburgh Coal Pitts Terminal Coal. Pitts & W Va (6). Poor & Co (B) 12. P Rican Am To (A)7 P Rican Am To (B).. Postal Tel & C pt(7). Postum Co (3)...... Prairie Oil & Gas Prairie Pipe L (14).. Pressed Steel Car. .. Pressed St1 C pf (7). Prophylactic (t4)... Pub Sve NJ (2.60) Pub Sve NJ pt (6) Pub Sve E&G pf (6. Puliman Corp (4)... % Punta Alegre lnnr. Pure Ofl (1% Pure Ol pf ( Purity Bakeries (3) Radie Corp... Radio pf A (3%4). Radlo pt B (5). th-Orph A. & Exp (H . Reading (4) Reval Silk Hostery Ruils (R) & Co. Rpin (R)&Co 151(7) . Plemington-Rand. JReming-Rnd 1at (7) Reming-Rnd 2d (8) Reo Motor Car 11.60. Rep Brass Corp...... Rep Brass A (4) Rep Iron & St1 (4) Reynolds Sping. Reynolds Tb B(2.40) . Richfleld Oil (2)..... Rio Grande Ol (k2). Ritter Dental (214) . Rossia Ins (2.20) . Royal Bak Pwdr (1) Roval Bak P pf (§). . Royal Dutch (a1.336) Rutland pf. W55 A — % Safeway Stores (3). Safeway pt (6)..... 108 Safeway Stra pf (7). 108 St Joseph Lead (13). St L-San Fran (8)... St L-San Fran pf () St L Southwestern. . Savage Arms (2). Schulte Retall Str: Schulte Retail Pf(') 108 Seaboard Air Line... 5 Seaboard Air Linepf 4 Seagrave (1.20).... 1 Sears Roebck ($3%). 28 Seneca Copper... . 5 Sharon Stl Hoop (1). . 22 ]zg'i 08 94 125 964 116% 51% 411 118% 21% 24% 2214 181 10% 2% a1 WEDNESDAY, 19% " 1108 128% 2¢ 41 66 26 195 10% 78% 35% 93 100 23% 47 99y 94 % 537% 4z 31% 60% 69% 3315 106% 54 kst 8 162% JUNE 19, 1929. ~Prev. 1929 High. Low. 34% | 170% 123% 3% | 318 25% T4% 48% 75 18% 8514 107% 32% prov. 34 3 34 3% 2% 2% 10% 1% 384 38% 98 dor 2% 2% 40 40 581 58% AT 4TS & 104% 104% 88% 88% 134 134 66 66 i 1043 105% A% A% A 3% 52% 53% 1T 17% 17 17% a2 42% 44 45 608 80 93 944 Stmms Sparks 847 3T 37% 484 1884 142 111% 7 28% 50l 106 162% 140% 551 4615 146% 56'% 46% 199% 142% 107 49 290 847 37 37% A8 1881 142 lll% % 50t 106 149 s 140% i b5 4615 146% 50% 4 1984 142% 107 T a9 290 109% 1218 248 98 36 223% 85 130 51 100% 528 1024 1014 e Sup Sweel Tide W Transc: 18 36% b4 90% 2% 7418 348 128% 40% Utd Pa 6114 830 170 130% Ban 56l 63% 557 8% 38 v Vietor 4 Westn W White White White White % Yale & 4l 30 60% 69% 328 106% B4 7 ™ 581 42u 31 | 5914 68 32 106 b4 § 162% 95% 105% 68u | 3 6% 1% 9 64 88 405 20% 931 Young Young 67% 31% 106 54 674 s 30% 175 ' 4% T 3n ‘e 160% 9B% 105 67% 1168 94% 87% 40% 20 91 12% 1 158 5% 161% 95% 105 67% 117% 943 874 40% 20 92% 124 17% 14% 168% 5% 4z Loft . Mex S 10:30 A M. 1:30 P.M. Dividend ra Tons | ieratso 14% | 4n 159% | 8 Pald chie Jarone 55 | In_ stock. * d Payable e Gon im ock. 42 lus 8% in_stock. Stock and Dividend Rate. Shattuck F G (2).... Shell Union (1.40). .. Shubert Theater (5). Simmons Co (3)..... Sinclair Oil (12%) Sinclair Ofl pf (8) . Skelly Oil (2). Snider Packing pf. .. So Por Ric Sug 2% . So Port Ric 8 pf (8). T Southern Cal Fd (2). 1 Southern Dairies B. . Southern Pacific ( Southern Rwy (8) Southern Ry pf (5 Spalding A G (1.60). Spang-Chalfant. . Spencer Kelg(1.60).. Spicer Mfg A Spicer Mfg pf (3)... Spiegel-Mav-St (3).. Stand Com Tob (1).. Stand Gas & EL (3%) 400 Stand G&Epf (4).. 1 Stand Ofl Calif (13). Stand OIl N T (12). .. Stand OJ1 N Y (1.60). Stand Plate Glasss. . 5 5 Stew-Warner (334). Studebaker (15). Submarine Boat. Sun Oil (g1). Superior Of1 or Stee] Symington A....... Telautograph (1)... Tenn Cop & Ch (1).. Texas Corp (3). . Tex Gulf Sul (4) Texas P C & Oil (bs) Texas Pac Land Tr. Thatcher M{g. Tide W Tide W Tide W Timken Det Ax t80c. Timken Roller (3) Tobaceo Pr (1.46)... Tobacco Fr A (1.40). Trico Prod (2%) .. Truax-Tr Coal(1.60). Underw-El-Fish(4) .. Union Carbide(2.60). Union Oil Calif (2).. Union Pacific (10) 4 Union Pacific pf (4). Union Tank Car(5). Utd Aircraft&Trans Utd Afrcraft&T pf 3. Utd Cigar Stores(1). d Cigar St pf(6).. Utd Corporation Utd Corp pf (3 Utd Electric Coal (3) Utd Fruit (c4) U S Cast Irn Pip (3). U S CstIP 1st(1.20) 1 1 4 12% U S Distributing U S Ind Alco (6) U S Leather... U 8 Leather A (4) U S Leather pr pf(7) U S Realty (5)... U S Rubber. .. U S Rubber 15t pf. .. 9 U S Smelt Ref (3%). 57% U S Steel (1) U S Steel pt (7). . Univ Pipe & Rad. Util Pwr & Lt A (e2) Virginia; Virginia- Vulcan Detinning Wabash. Waldorf Systm Walworth (1.20). Ward Baking A. Ward Baking B..... 4 Ward Baking pf (7). 2 Warner Bros Pict. .. Warner Bros Pic (n) Warn Br P pf(2.20).. ‘ren Fdry & Pips Wess Oil & Snow (2). WessO&Snpf (4).. 1 West Penn El pf (6).100s West Penn E1pf (7). 80s West Penn Pw pf(6) 20s t Penn Pw pt (7) 508 Western Pacific 5 tern Pacif pf. 3 Western Union (3) . Westngh Air Brk(2). Westngh EI&M (4) tngh E 1at pr(4) 340s Westvaco Chlor (2). 1 Wilcox Oil & Gan. Wilcox Rich(A)2%.. ‘Wilcox Rich(B)e2. Willys-Over (c1:20). ‘Wilson & Co. ‘ Woolworth Co (6). Woolworth C Worthington Pump. . Worthington B. Wright Aero (2).... Wrigley W (ct3%) .. Yellow Truck &C. .. Col Graph . Int Tel&Tel Newton Stl U S Steel. Sales of Stocks en New York Exchange. ... 2,105,400 100 13Ut iptne fom, tan L st 42 FINANC Bales— a Pl” Add 00 Toms 160 Se1 ded 2¢ 21% 21 21 28, 1 51 61 Bl b1% 75 93% 91% 92% 93N 667 32% 31. 314 32% 415 37% 36% 36 37h 2109 109 109 109 18 40% 38% 38% 40% 11 55 85 55 B65% 6 39 38% 39 387 126 124% 126 126 631 581 62% 58 1% 1% 1% 124 131%; 131 131%s 14312 1424 142% M 9% 94N 56% B8 34 34 61 61 381 38 Al 51 465 46%: a5 85 19 19 116% 123 [ 3% 73% 56% 57 39 Bfi "0’- T4 2% 64% Pet (1.60). 35 611y 38% 5018 48% 84% 19% 119% 64in 74 58 3913 5 1% % 2% ua 51‘- 14 16% Withing new. 24 T6% 2 63% of Amer (1) 19% 1% 62 3% 18% 20 24 21% 84y ater A A at Asso pf(6) ater Ol1(80¢). ater Oil pf(5) ontinent: 7 2 58k 2 20% U @ an Saleonfiven~33 perboard. . vodSianilales V- dsco Sal Vanadium (1. Talk prpf(f). 1 116% rChem.. 8 1434 r6% pt 1 43% . 308 T4 -W- 5 68 W) 4 28% 93 42 2508 50 10% 74 17 59% 52 31% 154 17% 38 63 97% 105% 1063 116% 27% 41% 33% 58% 195 20 47 -Quinlan (2). Bros (15) Dairy (B).... 12 26 35 65 274 171% 160 70 34% 21 4b% 28 814 2204 881 50% 70 12215 77 Eagle 0il (2). Motor (1).... Sewing Mach. Sw Mch pf(4). 1 2 3 1 1 4 8 814 % 219% 87 49% - 70 T6% 72 3974 6113 136% 4% 3% 30 17% W v 5 6% 35 % % 2 1% 14 5 5% 49% 70 7 123% 6 17 Y — Towne (4)... 6 72 28 Sp&W (12%). 3 Sheet & T (5) 9 2 1 10 1 1 T 38% 61% 135 RIGHTS EXPIRE AmTel &T..July 1 Balto & Ohio.June 20 Ches & Ohio..July 1 247 190 29 [ 13 15 82 106 51 17 g 23 June 21 413 ™ 34 30 178 % an .July 10 6 July 5 July 5 3 1% 1% 5% b 351,100 1200 Neon. 1,337,600 2:10 P.M. 2,301,900 as given in the above table are the annua! 1234 |cash payments based on the latest quarterly or half yearly dec- tPartly o {Plus s in stock. ¢ y cepns, " ePazatie s Tain or x'rfl': g ks o MACHINERY TRADE OUTPUT IS LARGE BY J. C. ROYLE. | Special Dispatch to The Star. NEW YORK, June 19.—Industry is profiting more than at any time in history from the lesson learned cen- turies ago in Egypt on the futility of making bricks without straw. As a result the machinery and tool manu- facturers of this country today are still ‘working at capacity and still are unable to fill all demand for equipment—which in these days means what straw meant in the Egyptian brick yards. ‘The activity of the machinery and tool plants is cogent evidence of the stability of industrial activity, for em- e are not in the habit of tying b huge sums in tools “for idle hands or in machinery which is likely to be idle for extended periods. It is notable that the accumulation of orders is very high and will require operations of the manufacturers at present rates for| some time to fill them. * *According to the latest announce- ment of tl National Machine Tool Builders' Association, unfilled orders of members of the organization reached a new high record in the last month. Demand is exceptionally well bal- anced. The losses which have been en- countered in orders from those serving agricultural communities and making arming equipment have been counter- b‘hneed b{.an Tequirements of other lines. Perl Emmcmmmh:_mm lonm ' Wall Street Briefs By the Associated Press. The reported dissolution of the Re- tail Research Association, maintained by & number of independent depart- ment stores of the country, hgs given rise to reports that such stores as Wil- liam Filene & Sons, Boston; Straw- bridge & Clothier, Philadelphia; Abra- ham & Strauss, Brooklyn, and others are to be acquired by Marshall Field or the Hahn Department Stores. An issue of about $30,000,000 in bonds of the Lautaro Nitrate Co., Ltd., a Chil- ean 0 heim property, is expected to be fered for public subscription | Bur nmruy. May output of silver in the United States amounted to s.su.m fine ounces, compared with 5,422,000 in April and 4,574,000 in May, 1928. Ca- nadian and Peruvian output for last month also was greater than in May, 19: Australian ction for April Soiiction I Mexies for February, the Production in Mexico for February, I‘IM ul:mm.h glc;nwhkh figures are vailable, was ounces, compared with 9,547,000 in’ May, 1928. Stockholders of Electrical Products Eflmm of Colorado, manufacturers ude Neon lghts, will vote July 15 the common stock from 25, ooo to 50,000 shares. Railroad Seeks Permit. The Erie Raliroad todsy applied to Commission the most notable ‘im-lthe Interstate Commerce for authority to issue $8,370,000 equip- ment trust mfl.'l SHORT-TERM SECURITIES. (Reported by J. & W. Mellgman & Co) | Alis-Chaimers Co. S5 1 Aluminum Co. of Al American Tel Armour_Co. B Battmore &Ohio 4zs 193 Batavian Pet. Corp. 4% Edison EI. Il. Boston Gen. Mot. Accep. Corp. 6s I g::l‘ll Petroleum Corp. ear T R Sy W7 Grene runic cafiads 68 Gulf ?ll of Pa. e ‘Hu) il 8izs 1'8] . Tnternat. Match Gor gregon' o, I Life % Enilips Pet co hell Dins ) Sn.‘en.‘.’. &’l.a. 6o 1837 IF Western Wheeling Steel TREASURY CERTIFICATES. (Revorted by J. & W. Seligman . 2 Rate—Maturii 2-3: i 12 20-32 961232 961832 POWER COMPANY SOLD. NEW YORK, June 19.—The Midland Utilities Co. has sold to the Ohio Elec- tric Power Co. the Rockford Light & Power Co., furnishing electric light and power service 4 Rockford, Ohlo. 56% | 59% 3% %! TAL. STOCKS IRREGULAR N HEAVY SELLING Difficulty in Obtaining Public Following Influences Pools to Take Profits. BY STANLEY W. PRENOSIL, | Associated Press Financial Editor. | NEW YORK, June 19.—Growing | fears that the Stock Market has been temporarily overbought as a Tesult ef the recent series of sharp advances led to extensive selling in today’s session, giving prices a highly irregular ap- pearance. Pools conducted their op- erations with caution because of tha difficulty in obtaining a public fol- lowing and the increasing activities of “bear” traders, but they succeeded in marking up about a score of issues to record high levels. Credit Situation. The midyear credit strain has not vet, begun to make itself felt, and there is a rather widespread hope that recent gold shipments from the Argentine and Great Britain, including withdrawal of another million dollars from Buenos Alres today, would alleviate the situa- tion. Call money renewed unchanged at 7 per cent, and while the supply was not unusually large, money brokers indi- cated that the rate might be maintained throughout the session. Except for the increase from $3 to $4 in the annual dividend on William Wrigley common and the publication of the weekly steel trade reviews, which showed that output was being main- tained at a high rate, there was little in the day's news developments to in- fluence the price movement. 'The steel shares nevertheless were inclined to heaviness, Superior dropping 3% points and Michigan 2. Many of the public utilities reached their highest prices of the year on the late trading, despite the severity of the selling pressure against the oils, steels, radio and other important shares. Standard Gas & Flectric, Philadelphia Co., Pacific Gas & Electric and South- ern California Edison rose 3 to 5 points. The close was irregular. Early Gains Recorded. Upward price tendencies again pre- dominated at the opening. = General Electric showed an initial gain of 2% | points, National Lead 2 a&nd Johns Manville and American & Foreign Power a point each. Allied Chemical and American Can fell back & point on opening transactions. Resumption of gold shipments from Great Britain, which is e: to ease the midyear credit strain, and the high rate of employment reported by the Department of Labor were stressed by commission houses as bullish factors. Excessive heat of the past few days has driven many traders away from the financial district, with the result that early trading was relatively light in volume. Baldwin Locomotive, announcement of a stock split-up in which is shortly, opened at 234 and quicl up to 244, an overnight gain of 11% points. Air Reduction advanced 4 points, National Lead 3 and Johns Manville 2. Public service of New' Jersey cressed par for the first time and American Water Works was Kuslud up a point. North American fell back 2 points on profit-taking. ? International Business Machines was marked up to a new high record and early gains of a point or more were registered by a wide assortment of popular industrials. including Lambert, Mack Trucks, Studebaker, ~ Crucible Steel, Continental Can and American Locomotive. Rails and Oils. ‘Talk of a large rallroad stock holding company revived interest in the rail shares, New York Central and Chesa- peake & Ohio being the early leaders. Houston Oil, which ran up more than 6 points Monday and did not sell yes- terday, fell back 4% points. Murray Corporation, Timken Roller Bearing, Warner Bros. Pictures and American ‘Tobacco B ylelded & point or so. Foreign exchanges opened steady, with sterling cables unchanged. VIRGINIA’S IN.DUSTRIAL OUTPUT SHOWS GAINS Final figures on the industrial growth g{n \grnnh durlng(tl:;dmn year of the program of ustrial progress, the period 1926-1927, shows that the value of the State's industrial output increased $114,575404 in that year alone. The number of plants increased 1,112, the number of workers 34,723 the amount of wages $26,007,612 and |the amount of capital invested $265,- 165,710. ‘These figures do not include the larger plants which have located in Vir- ginia since 1926, for they were not in production during the period covered by the report. Nor do the figures in- clude persons employed in -bullding trades, mines and quarries. mglmtpmfl; two-thirds g; tvhe value of output is supported irginia ag- ricultural products and raw ml'zfll.llu SXLVER QVOTATIOII. NEW YORK, June 19 (#).—Bar sil- ver, 52%; Mexican dollars, 38%. F. H. SMITH COMPANY STOCKS & BONDS BOUGHT & SOLD MEHLMAN & COMPANY Woodward lld'. Ph. Main 317 Mortnge Money l.oaned At Low Interest Rates Tyler & Rutherford Representing Mutaal Benefit Life fns. Co. 1520 K Street Main 475 BONDS Months of high money rates have depressed bond ncu to levels which now make many issues attractive both on a yield basis and for possibility of price appreciation in the event of a :rend toward easier interest rates, In our recently published lists of bond investment suggestions the average approximate yield for 89 issues offered was 5.78%. Send for Current Lists THE EQUITABLE SECURITIES COMPANY INC. STANLY Cax, Representative ‘917 Fifteenth Street, N. W. WASHINGTON, D. C. ——— e