Evening Star Newspaper, June 20, 1929, Page 14

FINANCIAL. TRADING IS AGTIVE ON D. C. EXCHANGE Bank Stock and Local Utili- ties Bonds Are in Demand. As the District of Columbia Bankers’ Association opened its annual sessions at Montauk Beach, Long Island, today, trading on the Washington Stock Ex- change showed moderate activity, with | Riggs National Bank stock and local utilities bonds being in demand. Riggs opened at 574 on a turnover of 20 shares, 2 points up from the last previous sale, and moved to 575 on a series of lots totaling 80 shares. Georgetown Gas 5s went at 993 in two transactions. Washington Gas 5s were steady at 99'¢, while the same company’s 6s “B" was slightly off at 103'.. Washington Railway 4s sold | at Mergenthaler Linotype changed hands in two blocks at 1043 and 100 shares of National Mortgage & Investment preferred sold at 4. Capital Traction Co. was steady at 92 and Potomac Electric 6 per cent preferred sold at bankers at Montauk Beach openedtheir business sessions this morning, following the trip by special train leaving Washington last evening, and this afiernoon opened their sports program, Beers Bank Examiner. The board of directors of the National Metropolitan Bank yesterday declared an exira dividend of 2 per cent, pay- able on July 1 to shareholders of record on_June 20. Ralph W. Byers, now attached to the | fourth Federal reserve district, has been appointed chief national bank examiner for the local, fifth Federal reserve district, including the District of Colum- bla, Maryland and Virginia, it was an- nounced yesterday by Controller of the Currency Pole. He succeeds W. Folger, who resigned to become execu- tive vice president of the National Bank of Commerce & Trusts at Norfolk. Mr. Byers has been 16 years in bank- ing, and is 54 years of age. He was born in Ohio, later lived in Atlanta, and was appointed a national bank ex- aminer in 1916. Harold D. Krafft, general agent for the State Mutual Life Assurance Co. of Worcester, Mass., will leave the Capital Saturday to attend a meeting of the General Agents’ Association of the as- surance company at Poland Springs, Me. Joseph A. Marr, associate general agent of the same company, will leave Monday for the annual convention of she Agency Club, also at Poland Springs, Me. The Washington agency of the State Mutual reports an increase of 264 per cent over last year's paid business, attributed largely to the co-operation given by banks and trust companies of Washington in completing insurance trusts. Trend of Stocks. > ‘The general tremd of most types of stocks on the New York market during the last week has been steadily upward, according to the Business Economic Digest. “Spectacular rises have been recorded in many individual stocks,” says the Dige: “The general level of stock prices now near the highest point attained thus far this year. Gen- Gral business continues to exhibit a less than normal, Summer, seasonal let- down, and a favorable industrial situa- tion is indicated during the early Au- tumn months, at least.” Contracting for third quarter steel Is beginning to overcome the inertia of Summer and an unchanged price situa- tion, says the Iron Trade Review. “This tendency,” it says, “is not spec- tacular, but increasingly consumers are committing themselves, some for the tire quarter. With their organiza- tlons geared up to a record gait, pro- ducers seem likely w pursue new busi- ness more diligently.” Consolidated volume and net income of Commercial Credit Companies of Baltimore are reported as largest for April and May, of any months in the companies’ history. Consolidated net income applicable to outstanding com- mon stock for April was at the annual rate of $5.29 per share, and for May at the annual rate of $6.19 per share. Consolidated volume for the five months ended May 31 was $191,782,567. “Industrial stock prices, holding at the lows established in February, have undergone a normal recovery,” accord- ing to_the Alexander Hamilton Insti- stute Bureau of Business Conditions, “sufficient to make up somewhat more than half of the ground lost during liquidation. Railroad shares have been strong and sold up above their previous trading area. The market does not appear headed definitely for another speculative up-rush, and it is probable that the breaking out of excessive spec- ulation would occasion further repres- sive measures. The ability to hold at above previous low levels, however, sug- gests that good absorption of the strong semi-investment issues may have taken place in_ the recent weeks of heavy selling. It is not believed desirable to employ all funds in the market, but approximately two-thirds of available resources may be so used. HOOT-MON-TAUK. By Harry W. Pinney. The bankers are in session And there’s business by the score, You know the kind of business Where golf is to the fore. Theyll start the ball a-rolling With handicaps no_doubt, But soon they'll get into the swing And iron the kinks all out. For as sportsmen they are topping, They tell you life's a game, Where in_their work' as in their play The fairway is their aim. And Tl hazard the opinion, As you no_doubt will do, ‘That ‘what they start four-some one They'll always follow through. HEARING ON MARYLAND POWER MERGER HELD Epecial Dispatch to The Star. BALTIMORE, June 20.—The Mary- land East Coast Utilides, Inc., was given a hearing by the Public Service Commission yesterday on its applica- tion for permission to acquire the prop- erties, assets and franchises of four power companies on the Eastern Shore. The companies sought are the Mill- ington Light & Power Co., the Cecilton Electric Light & Power Co., the Love Point Light & Power Co. and the Trappe Electric Light Co. The sec- tions of Maryland affected are Somer- set, Worcester, Cecil, Queen Anne and Talbot Counties. The application of the East Coast Co. was jointly filed with the other cor- porations, who asked to be allowed to sell their properties to the applicant. ‘The East Coast Corporation also asked permission to issue $150,000 first mort- gage bonds under its indenture to the Central Trust Co. of Illinois. POTATO MARKET STEADY. CHICAGO, June 20 (P (United States Department of Agriculture).— Potatoes—Receipts, 17 new, 31 old; on track, 230 mew: 120 old; total United States shipments, 993 cars; new stock trading slow, market about steady: Southern, sacked, Bliss Triumphs, 1.00 2190: North Carolina, ~barrels, Irish Cobblers, 3.00a3.75: old stock market weak: Wisconsin, sacked, round whites, 40a55. fac b 2y Fldf‘ll'y Trust (New York) announced for-1 stock split, also rights after "¢ ‘one for ‘two’ at, $40 per share. Fresent 10 per cent dividend to be main- tained. 100% | 305% 1% 425 235 3% 62 343 | 104 151% 10614 99% 10&\; 46 6% 126% 119% 188% 813 98Y% 55 6 4 124% 138 9% 85 238% 1861 188 121% 1440 277 58% 491 140 864 62 68 4910 115 95 18% 10% 8 407% 30 30% 5!=. 0% 107 47% 226% 2% 115 297 31 A 271% 125 133 BOY L T6% 33% 49 106% 29% 847 931 93% 136% 8913 98 143% 109% 634 6% 3% 817 203% 47 119% 42% 50 85 6814 531y 89% 110% 118% 9% 12% 41 138 4 135 61% 90% 265% 481 101% 331 42% 5216 11215 285 120 234 145 H6% 139% 102% l\m. 50 607% 135 62% 27 52 140 2% 8% 793, 108 88% 355 92% 30% 96% 96 12654 100% 4 182 4 120% Del Lack & W (17) . 1929~ Stock and Low. Dividend Rate. 3814 Abitibi Power & Pap 101 Abraham & Straus. . 5 110 106 Abraham & St pf (7) 10s 108 389 Adams Express (§) 4 561 85 Adams Exp pf (5) 7 -85% 27% Addms Millis (2)... 2 30% 27 Advance Rumley.... 40% Advance Rumley pf. 2 AhumadaTead..... 95% Afr Reduction (3)... 871 Air Wal E1 Ap(2%). 4% Alaska Juneau...... 12 Albany P W Paper. . 27% Alleghany Corp 9914 Alleghany C pf (5%) 100% Alleg'y pfrets(5%). 241 Allied Ch & Dye (f). 120% Allied C&Dpf (T).. 166 Allis-Chalm Mf (7). 5 Amal Leather. . 2215 Amerada Corp (2) 104 Am Agricul Chem 40% Am Agricui Ch pf. .. 110 Am Bank Note (13). 40'5 Am Bosch Magneto. 41 Am Brake Shoe 2.40. 15% Am Brown Bov Elec. 49% Am Brown B E pf(7) 107% Am Can (14) 92 Am Car & Fdy (6 116 Am Car & F pf (7) 70% Am Chain pf (7) 46% Am Chicle (2). s 15 Am Com Ale (k1.60). 14 Am & For Power. ... 95 Am & For Pw pf (6). 40s 104% Am & For Pw pf (7). 1106 88 Am & For Pw 2d pf.. 24% Am Hawatian (1). 64 Am Home Prd (3.60) 38 AmIce (13). . 5214 Am Internat (i2). 102% Am Locomotive (8 113 Am Loco pf (7). 147% Am Mch & Fdy ( 50 Am Metal (3). 67 Am NatGas pt 25 Am Plano pf.... Bl Am Pow & Lt (f1) 80 131 98% Am Pow & Ltpf (6). 1 99% 79 AmP&LDpfAst(). 2 31 70 AmP&LDLA(3)... 1 T4% 40'4 Am Rad&Std San 215 156 45’-.. 207 Am Ry Express (6). 67 1245 1 113% 2 164 6 584 208 T4 . 208 25 1 4 ‘Am Shipbuilding (8) 40s 83'4 9813 Am Sm & Ref (4).... 130 Am Sm & Ref pf (7). 56 Am Steel Fdy (3). 66 Am Stores (2).. 193% Am Tel & Tel (9). 160 Am Tobacco (8). 160% Am Tobacco B (8) 115% Am Tobacco pf (6). . 67% Am Water Wks (c1). 360 146% 18 Am Woolen 18% 42% Am Woolen 24y Am Zinc Ld&Sm 99 Anaconda Copper. .. 1556 112 62% Anaconda W&C (3).. 3 44 Anchor Cap (2.40) 2 44% Andes Copper (3). 29 Archer-Dan-M (2) 114 Archer-Danpf (7) 85% Armour Del pt (7) 10% Armour I1l (A) 5% Armour 11l (B) %2 Armour 1l pf (7). 19% Arnold Constable. 415 Artloom (2). z‘l Art Metal (1%). 49% Asso ApplInd (4)... 43 AssoDry G (2%). 941 Asso D G 1stpf(6).. 40%3 AssSo Oil (2).... 195% Atch T & S Fe (10).. 53% Atl Refining (1% 90 Atlas Powder (4). 21 Auburn Auto (J4). 224 Autosales..... 36% Autosales pf (3 1 72% 1 2% 1 26% 1 27% ‘l 9 b7 Baldwin Loco (7). 31 uus Baldwin Loco pE (7). 10- 115% Balto & Ohio (6).... 134 75 Balto & Ohio pf ( 6415 Bang & Aroos (3%). lz 26 -~ Barker Bros (2)..... 3 384 Barnsdall (2)... 87 100 Bayuk Cgr 1st pI(7) 1108 20 Beacon Oil 16 %1 Belg N Ry pt bf (16). 78 Bendix Aviation (2). 75% Best& Co (3). 8214 ‘Bethlehem Steel u). 110% Bohn Alum&Br(f4). 78 Bon AmiA (15):.... 83 Borden Co (3). 107 Borg Warner (j4). 85 Boston & Mains 30% Briggs Mfg. 3% British Empire Steel 4212 Brockway M T (3) 60% Bklyn-Manhat (4)... 170 Bklyn Union Gas () 38% Brown Shoe (l%) . 117 3rown Shoe pf (7) 25% Bucyrus Erie (1). 38% Bueyrusev pt (2%). 54% Buff & Susque, 52 Buffalo & Susq pf (4) 46 Bullard Co (1.60). 56 Bush Term (82) 103% Bush Term deb (7).. 110 Bush T Bldg pf (7).. 4% Butte Copper & Zinc. 6% Rutte & Superior (2) 28 Butterick Co. ... 104% By-Prod Coke (13) e 1% Callahan Zinc & L. .. 3 124% Calumet & Ariz (10). 15 130% 36% Calumet & Hecla(4). 17 42% 78 CanadaDryGA (5). 12 87% 218 Canadian Pac (10).. 14 280% 37 Cannon Mills (2.80). 1 36% 95 CarClin& O sta (5). 50s 96 320 Case (J 1) ctfs (6) 10 315 22% Cavanagh-Dobb 3 24 4015 Cent Alloy Steel (2). 52 4% 105% <‘ent Alloy St pf(7).. 10s 16'2 Certain-ieed Prod... 3 B85 (erro de Pasco (6).. 195 Ches & Ohio'(1D).... 78% Chesapeake Corp (3) 12% Chi Great Western. . 38 ChlLGreat Westn pt 27% Chi Mil St P&Pac. .. 4614 Chi Mil St P&Pac pf. 80% ChI&NW (4)...... 13¢ Chi& N'Wpt (7). 48% Chi Pneu T pf (3%). 115 Chi RI&Pac (7).... 98% Chi R1& Pac pf (6). 106% ChiRT4& Pac pt (. 28% Chi Yellow Cab (3). 38% Chickasha C Ol (3). 44% Childs Co (2.40).. 66 Chrysler Corp (3) 501 City Ice & F (3.60 2015 City Btores (I 49% City Stores A 120% Coca-Cols 48 Collins & Aikmi 56 Colo Fuel & lton. 531 Columbla G&E (2).. 103% Colum G&E pf A (6). 8% Couml Graph (29.1¢) 187 121% Columbn Carbn t4%. 26 43 Com Credit (2). .. 233 24 Com Creditpf (1%). 108 95% Com Crd 1st pf(6%). fv(lu 131% Com Inv Trust (14). 27% Com Inv Trst war 2 225% Com Solvents (h8).. 6 107% Comnwealth Pwr t4. 56 19% Congoleum-Nairn... 77 69 Cong Clgars (15%).. 9 25 Consol Film In pf(2) 3 76% Consol Cigar (7).... 1 Consol Cgr pr pf 6% . 508 784 5 2 8 T 1 N & ws num—uwhfl.hmwa Conso! Gas pf (5) 51 Consol RR Cub pf(6) 2145 Consol Textile. 12 Container Corp A Container Corp B ontl Baking A Contl Baking B 8814 Contl Baking pf 60 Contl Can (2%). .. 79 Contl Insurance (2). 17 Contl Motors (80c) 82 Corn Prod (13) 51 Coty Ine (£2) 85% Crosley Radio (11).. 95% Crown W P 1st pf(7) 85 Crucible Steel (6)... 5% Cuba Cane Sugar pf. 11 Cuban-Amer Sugar 60% Cuban-Am Sug pf. 3 Cuban Dom Sugar... 135% Curtiss Aero (1). 120 Cushman’s pf (7) 108% Cushman's pf (3). 5814 Cutler-Ham (3%). 63 Cuyamel Fruit.. 26 100 2 26 50% 4 195% 1 128% 55% Denv & R G W pf 2 6% 224 Detroit Edison (8) 10 290 43% Devoe & Ray A (13). 6 45% 130 Diamend Match (8). 10s 149 42% Davison Chem... Delaware & Hud (9). Bales— Add 00. High. Prev. Low. Close. Close. 2 42% 424 42% 434 09 107% 110 108 108 537 551 85% 301 381 61 2 145% 4lle 108 133 67% 215% 243% 120 123% 7% 49% 195 123% 67% 284% 288 45 45 149 149 100% 191 6% 172 18% 2% 9274 115% 154% MA’A 66 49, 2428 Stock and Dividend Rate. Dome Mines (1). Dominion Strs (1%). Drug Corpn (4).. Dunhill Inter (£4).. Du Pont de N(t4%). Duquesne 1st pf (5). Eastman Kod (18). Eaton Axle &S (3) Elec Auto Lite (6). Electric Boat. . 31 Pwr & Lt (1). Eng Pub Sve pf (5). . 4 Fng Pub Sve pf(53%) “ )’.flultlhh Bldg(2%). 12 56 Erle R n 15t pt. Erie R R 2d pf. Gareka Vae €1 (4. F- Fairbanks Morse (3) 1 Fairbanks M pf (7)., 10s 106% Fed Lt & Tr pf (6).. 10s Fed Motor Tr (80c).. 3 4 Fid PhenF Ins (2).. 3 First Nat Stores 1% . 15 Fisk Rubber. 5 Fleischmann (1334) . Fox Film A (4)..... Frank Simon pf (7). Freeport- 7fii 15 208 Gabriel Snub A. Gardner Motor. Gen Am Tnk Ca: Gen Asphalt Gen Bronx Gen Cable A (4) Gen Cigar pf (7 Gen Electric (6) . Gen Flec spec (60c). Gen Gas&El A (e1%) Gen G & EIpf A (7). Gen G & FIpf B (1), Gen Mills (3). 5 Gen Motors (13.30). Gen Motors pf (7). Gen Outd Ad vic(2). Gen Ry Signal (5). Gen Refrac (13%). . Gillette Safety R (5) Gimbel Brothers. ... Glidden Co (11%). Gobel (Adolf). Gold Dust (234) . Goodrich BF (4) , Goodrich pf (7) Goodyear Tire (5). Goodyear 1st pf (7). Gotham Silk H (2%) Graham-Paig Graham-Paig: Granby Consol (7. Grand Stores (1) Grand Union pt (3 Grant W T (1). Grt North pf (5). Grt Nor Ore (a1%) Grt West Sug (2.80). Greene Can Cop (8). 15 Guantanamo Sugar. 1 Guantanamo Sug pf. 20 Gulf Sta Steel (4)... -H- Hackensack pf (1%) 20s Hahn Dept Stores. .. 74 Hahn Dept S pf(6%) 3 Hanna (M A) 1st(7).150s Hartman A (2). Hartman B (1.20) Hawalian Pine (2 Hayes Bdy (b8 %3 Helme (G W) (17)... Hershey Chocolate. Hershey Choc pf (4). Hocking Val (10). . 4 Holland Furn (e234). - Houd Hersh B (13%). Household Prd (t4). Howe Sound (f4%). Hudson & Man (2%). Hudson Manh pf(5). Hudson Motor (5). Hupp Motor (£2). Illinofs Central (7). . Independ Oil & G (2) Indian Motor Cycle. Indlan Refining Indian Refining Inland Steel (3% Industrial Rayon 4 Inspiration (4).. Interboro Rap Tran. Intl Agricultural.... Intl Business M (5). Intl Cement (4).. Irrtl Comb Eng (2) . Iatl Cmb Eng pf (7). Intl Harvester (23%). Intl Harv pf (7)..... Intl Match ptf (3.20). Intl Mer Marine. Intl Mer Marine pf. Intl Nickel Can (80c) 150 Intl Pap & P A(2.40). 9 Intl Pap & Pwr B 12 Intl Pap & PwrC.... 13 Intl Pap & Pwr pf(7) 8 Intl Ry Cn Am pflS) lsou Intl Silyer (18) Intl Tel & Teleg Inter Dept St (2)... Inter Dpt S pf x w(7) lowa Central........ 100 2 Island Creek Coal(4) 1 62% Johns-Manville (3).. 149 188 Jones & Laugh pf(7) 40s l2lV: 4 Jordan Motor Car... 4 —K. Kan City Sod (5).... B! Kautmann DS (1%) 10 7 Albee-O pf ( 1 Kelly-Spring Tire. 26 Keisey Hayes (2) Kelvinator Corp. Kendall Co pt \"K) 20! Kennecott (5)..... . 8 Kimberly Clrk(2%4) . Kinney (G R) (1). Kolster Radlo. Kraft Ph Ch (1%4). Kresge § S (1.60) i Kresge Dept Stores Kress S H (1). Kreuger & Tol(1.34). Kroger Gr&Bak(c1). Laclede Gas (10) Lago Oil & Trans Lambert Co (8) Lee Rubber & Tir Leh Port Cem (2%). Leh Port Cm pf(7) Lehigh Valley Coal. . Lehigh Valley u'&). Lehn & Fink (3). Liggett & My (16)... Liggett & My B (16). Lima Locomotive Link Belt (2.40)..... Liq Carbonic (14%). Loew’s Inc (13)..... Loew’s Inc pf (6‘6) Toftine:...... Loose-Wiles (2.60) .. Loose-Wiles 1st (7). Lorillard (P) Co.... Loujsiana O1l. . A LouG&EIA (1%).. Ludlum Steel (2). 4 McCall Corp (4). 3 124 16% 96 McCrory B (2) McCrory pt (6) McGraw-Hill (2) McKeesport TP (4). McKesson & Rob (2) McKes & Rbpf(3%). Mack Trucks (6).... Madison Sq G (1%) . Mallinson & Co. . Man Elec Supply. ... Man Elev mod (d5).. Man Shirt (2). . Marland Oil. Marlin-Rockw (14).. Marmon Motor (4) Mathieson Alk (e2)., Maytag Co (12)..... Maytag Co pf (3).... Mexican Petrm (8).. Metro Gold pf (1.89). 1 1 Middle States Oil ct. Minn Moline Pwr. Mo Kan & Tex p(('l). Missourt Missouri Mohawk Carpet 2% Mont Ward (2%). Moon Motors Morrell J (3.60). . Mother Lode (40c).. Motion Picture. Moto Meter A et Motor Products (17). naw wes ov. 9 9%, Stock and Dividend Rate. Motor Wheel (2). Mullins Mfg........ 21 Munsingwear (13%) Murray Corp (a3)... -N- Nash Motors (6) h Chat & St L 1Acme (1).. Natl Air Trans Natl Bella Hess(11). Natl Biscuit (16%) ., Natl Cash Reg (t4). 4 Natl Dairy (£1%) Natl Distillers. Natl Distillers pm) NatlEnameling (2). Natl Lead (5)....... Natl Lead pf A (7).. Natl Pwr & Lt (1) Natl Radiator pf. ... Natl Rys Mex 24 pf. . Natl Supply (18). Natl Surety (5). Natl Tea (1%4).. . Nevada Copper (3). . Newport Co A (3) ewton Steel (3). Y Air Brake (3) N Y Central (8). NYChi&StL( N Y & Harlem (5) NYNH&H (4).... NYNH&HpL(T). N Y Ont & West, 5y N Y Steam pf (# Norfolk&Wstn(110). North Am(b10%stk) 116 4 North Am Ed pf (§).. 3 No Ger Lloyd (3.41). 1 Northern Pac (5).... 4 North Pac ct (5) 1 —_— 011 Well Supply. Oil Well Sup pf (7).. Oliver Farm Equip. . Olivr Fr Ep ev pt(3). Olivr ¥'5 Eq pf A(6). Omnibus Corp. Oppenheim Col ¢ Otis Elevator (6 Otis Steel. .. Outlet Co (4). Owens 111 Glass (4).. P- Pacific Coast 24 pf.. 10 Pacific Gas & E (2)..1008 Pacific Lighting (3). 344 Pacific Ol stubs..... 11 Pacific Tel & T (7).. 360s Packard Motor (15) 2 Pan-Am Pete B, T kb WEND Paramount- Park Utah uo:) Patha Exchange Pathe Exchange A Patino Mines (3.89). Peerless Motor Ca Penick & Ford. 5 Penick & Ford pf(7). 108 Penn Dixie Cement.. 1 Pennsylvania RR(4) 28 Pere Marq prpf (5). 1 Phelps Dodge (3).... 15 Phila Co (17). 4 Phila Rap T pf (1%4) 208 Phila Co 6% pt (3).. 6 Phila& Read C&I.. 19 Philip Morris (1). 5 PlotosArrow A Plerce Oil. Pierce Petroleum. Pillsbury Flour (2) Pirelli Co A (2.88) Pitts Term Coal pf.. Pitts & W Va (6). % P Rican Am To (B). ‘Postal Tel & C pf(7). Postum Co (3) Prairie Oil & Gas. Prairie Pipe L (14). Pressed Steel Car 4 Prod & Refiners pf. Prophylactic (t4) Pub Sve NJ (2.60) Pub Sve E&G pf(6) Pullman Corp (4) 4 Pure Oil (1%) Pure Oil pf (8) Purity Bakerie: Radio Corp... Radto pf B (5) Radio-Keith-Orph A Reading (4).... Real Silk Hoslery Reis (R) & Co.. Reis (R)&Co 1st(7). Remington-Rand. ... 208 Reming-Rnd 1st (7). 2 Reo Motor Car t1.60. 16 Rep Brass Corp. . [ Rep Iron & Stl (4) Reynolds Spring. Reynol 4 Richfield Oll (2) Rio Grande Oil ( Royal Bak Pwdr(l)‘ Royal Bak Ppf (6).. 2 s. Safeway Stores (3).. St Joseph Lead (13). St L-San Fran (8)... St L-San Fran pf (6) 2 St L Southw Savage Arms (2). Schul Sears Roebek (123%). Seneca Copper. ... Sharon Stl Hoop (1). Shattuck F G (2).... Shell Union (1.40)... Shubert Theater (5). Simmons Co (3)..... Stmms Pet (1.60). . Sinclair Oil (12%).. Skelly O11 (2).. Sloss-ShefMeld pf (7) Snider Packing pf. . So Por Ric Sug 12%. % Southern Cal Ed (2). 634! Southern Dairfes A.. Southern Dairies B 124 Southern Pacific ( 98 50% Spalding A G (1.60). Sales— Add 00. High. Low. Close. Close. 3 42% AT%h 6 61 93 9% 106%: 1 106% 847 27% 12 5 162% Safeway Strs pf (7). 10s 105% 9 68% 3 117% 89% 40% 20% Schul 95 95% 1 1 5 138 3 143% 143% 2 6 59% 58% Stew- 4 Studeb: Tol Am T Loft . laration. in 94% £ Plus A 0% in § Fls 3%° 10" stock.” Underw-El-Fish(4). ‘Union Carblde(2.60) . Union Ofl Calif (2).. Union Pacifie (10) Union Pacific pt (4). Utd Afrcraft&Trani Utd Biscuit (1.60) Utd Business Utd Cigar Stores(i Utd Cigar St pf(6) % Utd Corporation Utd Corp pt (3). Utd Electric Coal Utd Fruit (c4) . Utd Paperboard. ... .. U S Cast Irn Pip (2). U SCstIP 1st(1.20) U 8 Distributing.... S Distrib pf (7)... Honm-n “).... Wabash. . Waldorf Systm Walworth (1.20) Ward Bakii . Warner Bros Pict. .. Warner Bros Plc (n) Warner-Quinlan (2). Warren Bros (15)... Wess Oil & Snow(2). Wess O & Sn pf (4).. West Penn El pf (6). 80s West Penn El pf (7). 40s West Penn Pw pf(6) 50s Westn Dairy (B).... 17 Weston El instru. 1 Western Maryland.. 13 Western Pacif pf.... 3 Western Union (8)., 23 Westngh Air Brk(2). 11 Westngh E 1st pf(4) 100 5 Westngh EI&M (4).. 521 White Eagle Oil (2 4 White Motor (1) 4 Mex Seabd. FINANCIAL. Stock and Sales— Dividend Rate. ~ Add 00. Hleb. Low Spang-Chalfant. ... Sparks Withing(14) . Sparks Withing new. 24 Spear & Co pf (7). ..-130s Spencer Kelg(1.60) 5 Spicer Mfg... 4 Spicer M£ pf (3) 1 Splegel-May-St (3).. 26 Stand Com Tob (1).. Stand Gas & El (3%) 400 % Stand GE Epf (4). . 6 Stand Oil Calif (13). Stand OIl N J (12). Stand O/l N Y (1.60 1240 60 181 231 ker (15) . Studebaker pf (7). ..2108 4 Submarine Boat. Sun Oil (g1). Sun Oil pf (6) Superior Oil Superior Steel. Telautograph (1). Tenn Cop & Ch (1) Texas Corp (3).. Tex Gulf Sul (4)... Texas P C & Oll (b3) 4 Texas Pac Land Tr Thatcher M{g. Third Avenue. Thompson J R (3.60) 4 Tide Water Asso. ... Tide Wat Asso pf(6) Tide Water Oil(80c) . Tide Water Oil pf(5) Timken Det Ax flon. Timken Roller (3). co Pr (1.40). .. Tobacco Pr A (1.40). Tobacce Pr B ct. Tobacco Pr Cct. Transcontinental, Transue & W (1) Trico Prod (2%) Truax-Tr Coal(1.60). TwinCity Rp T (4). 2 40% 28 134% 134% 108 97 97 474 S Leather pr pf( 7; S Realty (5) J S Rubber 1st pf. U S Smelt Ref (3%). U S Smelt Ref pf 3% Univ Leaf Tob (3) . Univ Plet 1st pf(8). Univ Pipe & Rad Util Pwr & Lt A (e2) 660 45% 10s 3 Vadsco Sales. . Vanadium (t4) Victor Talk pr pf(T). Virginia-Car Chem. . Virginia-Car 6% pf.. Virginia-Car pf (7).. Vulcan Detin A... . Wilcox Rich(A)2%4 .. Wilcox Rich(B)e2... 12 ‘Wilson & Co. .. 1 Willys-Over (el,lo)‘ 69 Woolworth Co...... 14 Worthington Pump.. 1 WorthingtonB...... 4 ‘Wright Aero (2).... 20 Wrigley W (ct3%).. 26 3% Yale & Towne (4). 72 Yellow Truck & Young Sp&W (12%). 94% Young Sheet & T (5) EXP] 41% % 62 138% &T..July 1 Balto & Ohio.June 20 ‘hes & Ohio..July 1 Ches Corp. City Ice. . Colum Gas&Elec ... Col Graph . ... Int Tel&Tel ..July 5 June 24 June 25 July 10 July 5 June 25 June 21 June 21 2,016,100 are the annual cash p-nnanu TBased e the latest Surterly or Baif yearly dec- (SURIE of trading lets than 100 shares. preterved stock, s Plus 6% i K Plus 3% In stoc FIRST AIR ‘TAXICAB' STARTS N BRITAIN Quick Service Is Provided for Public by Fleet of Machines. BY JOHN SINCLAIR. Special Dispatch to The Star. NEW YORK, June 20.—Great Britain has established the first air taxi service. The Northern Air Lines, Ltd., has be- gun such a service from Manchester Municipal Airport. Wallace E. Moess- ner, United States vice consul at Man~ chester, says a fleet of modern aircraft, operated by experienced pilots, has been made available to handle both passen- gers and merchandise to any part of Great Britain or on the continent. There are ships for all classes of trade. Those carrying one, three, five or eight pusen‘eu, uxethnr with t.halr luggage, may obtained on a mo- ment’s notice. ’rhe single passenger fare is 30' cents a mile; two pluen 24 cents each; for plrt!en of eight, wmnmmmw as low as 10 cenu a mile. “Those passengers traveling only one way will be charged for mileage both 'tyt If the journey is a speedy one, walting time of one hour is lll wed, two hours for a journey of 150 nd three hours for a journey emcdln. 250 miles. This gives time for passengers to complete business be- fore refurning. It will be mumtm: to watch the development of this ploneer type of service. While Australia crusades annually ufllnn'.htu t, a crusade in which grery method of trapping and poison- ing is used, the country after years of work sees no diminution in the number of rabbits. But & new angle has come to light. In some sheep districts where rabbits are thick professional rabbit po\mnerx get a large income each year by scores of thousands of rabbits. Their profits are growing, because rabbit fur is in demand. ‘Thomas' Austin imported 24 wild rab- bits to Australla in 1859 and let them go wild. Within six years he had killed 20 000 and there still remained, accord- ing to his own computation, at least 10,000. In the United States rabbit farming has become a business. There &re hun- dreds of prosperous small rabbit farms. Now these farms are being merged into larger ones specializing in pedigreed | stock. Owners of rabbit ranches who specialize in high-grade pedigreed stock are finding in the United States a'mar- ket for the meat and the fur. Rabbit meat, under modern sanitary | Land conditions, is growing in popularity, while rabbit fur is being dyed and used for scores of different types of fur. As a result, many high-grade rabbit ranch- €s are prosperous. Outworn and inefficient machinery is responsible for the loss of about $80- 000,000 a month in the United States, says an expe, Mass prcdueflon has made ra) ld strides in the last 10 years. monthly index figure for Indunrhl production, which was 84 in 1919, had reached 120 during the first quarter of [ §i43 1929, as compared with 111 in Nearly 50 per cent of the machine tools in use in the United States are more than 10 years old, ac- cording to the National Machine Tool Bullders' Assoclation. The Bullard Co., Bri Conn., is advocating a Menl survey of thls whole problem of inefficlency in chinery. The 1930 census lhould bfln( out such facts clearly. United States Secretary of Labor Davis wants the last vuflla of slavery in_the United States eliminated. How? ‘:xlnemp!oymenl 1928. it is & grave Injustice to drop a certain age, 40 or even 50, aftef, they have served l and !dth!ully in any ould be discon- “We allow ourselves to be guilty of grave injustices even 'to ‘the best of workers,” Mr. Davis says. “Science and invention, ever seeking to lessen and save human labor, tend to throw many workers out of their old occupations. Poverty often results as they search for new positions which never materialize.” The Secretary pleads for um new ‘The fi !—dl A e five week it one of the tangible evidences o’f more humanity in business; the growth of public sentiment in favor. of protection aginst involuntary unemployment is | | another. FEDERAL LAND BANK xom‘] NEW YORK, June 20 (Special).— Land Bank B Land Bank Land !lllk 2388288228 I s £8323; FEESE 95401 Land Bank 3s ‘Nov. 194loss d Bank 55 May uuml TREASURY CEBTIHGATEI. (Keperted by J. & W. Bell R te—Maturity Sept. an & Co.) 1,200,000 | § 98 2032 96 18-32 2 l 2 FOREIGN EXCHANGE. (Quotations furnighed by W. Bitieh, "Tfang. '\unu drac] drid, peseta. Vitha. Schiin Budapest, 8% | by United St STOCKS GO HIGHER IN ACTIVE MARKET Recovery Is Resumed as Tighter Credit Condition Fails to Develop. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, June 20.—The recovery in stock prices was resumed tloday, after an early period of heaviness, as a result of the growing speculative belief that the midyear credit stringency will considerably less severe than ex- pected and that a gradual easing of credit conditions is in prospect after the turn of the month. Pools resumed operations with confidence in a selected assortment of public utility, food, chain store, luu)mmive and electric equip- ment dozen of which were lifted to new hl‘h levels for the year. Credit Situation. Call money renewed unchanged at 7 per cent and seemed destined to stay at that figure all day despite recen! in- timations of bankers that the rate would go higher in midweek. While there was little in the overnight news to influence the price movement, teohctrlr, :-.uépmen ares continued Tespon reports of rapidly grow- ing business. Allis Chalmers jumped 9 points to a new high at 2251, West- inghouse Electric ran up nearly 7 to a inew peak at 1747, and General Etcmc advanced 4 points y'S final quotation. for, aside from its attractiveness, the 9% points. Baldwin Locomotive ad- vanced 3'> points on reports that a above 4 | meeting of directors to act on the pro- posed stock split-up had been called for a’ week from today. International Business Machines, Columbian Carbon and Wright Aeronautical alsd recorded substantial gains. There were a few soft spdis. Case ‘Threshing Machine certificates dropped 6 points to a new low at 308. yes Body dropped 3 points and Gimbel Bros. sagged 1 to a new low at 31. Sevann rharp losses were interspersed among a number of large advances in the final hour, Commonwealth Power sagging 5 points, Otis Elevator 43 and American Republics 4. Meanwhile La- clede Gas rose 13'%; points, Allis- Chalmers 11!, Warren Bros. 915, Brooklyn Union Gas 9, Johns-Manville 8, By-Products Coke 63 and National Cash Register 6. Public Service of New Jersey touched 106, a block of 10,000 shares changing hands at 105. The close Wwas strong. Pressure at Opening. Selling prcsmre was renewed at the opening and generally lower. Initial decllnu of a point or more were registered by American Water Works, Commonwealth Power, S X em! points higher. Most of the standard industrials and rails showed narrow fractional changes on opening sales. ‘While operators for the advance are convinced that fundamental credit con- ditions have definitely turned easler, the possibility of a sharp flurry in the call rate over the month end served to keep sh enthusiasm in check. The rapidity of the recent advance in many issues, particularly in the public utility group, has weakened their technical position and increased the possibility of a temporary downward readjustment of quoted values. Standard Gas & Electric qulckly fell back 31, points and Consolidated Gas X. Efforts were made to maintain ulative interest in the power and [ht group by bringing forward new leaders, Pacific Lighting and Philadel- phia cfo' being pushed to new high ground. General Electric advanced a point to 303 and then tumbled to 209. Early losses of a point or so were registered tes Steel common, Ameri- can Can, American Smelting. Anaconda, Baldwin and International Combustion. On the other hand, Westinghouse Elec tric, Chrysler, American Car & Foun- dry Safeway Stores and Gillette safety ted upward. exchanges opened st,endy. with sterling cables unchanged $4.847%. . Gasoline Price Advanced. NEW YORK, June 20 (#.—The Standard Oil Co. of California has ad- vanced the tank wagon price of gasoline ;1 cent a gallon. SHORT-TERM SECURITIES. (Reported by J. & W. Sellgman & Co) Allis-Chalmers Co. s 1937 g luminum Co; of ‘Amer. 55 MONEY TO LOAN On District of Columbia Real Estate CURRENT RATES OF INTEREST FLOYD E. DAVIS CO. 7l’th St. N.W. Main 352-353 i 1929 ALEX. BROWN «* SONS = Underwriters - Distributors INVESTMENT SECURITIES WasuincToN Orrice 737 15th Street N. W, Telephone, National 1053 Maix Orricx - Barrivonsn