Evening Star Newspaper, June 28, 1929, Page 14

FINANCIAL. STOCKS GO HIGHER THE EVENING STAR, WASHINGTON, D. C, FRIDAY, JUNE 28, 1929 CAPITAL TRACTION | Stock ana Sales— Stock and Dividend Rate. Add 00. High. Stock and Sales— Dividend Rate. Add 00. High. Stock and Prev. Dividend Rate. Add 00, High, Low. Close, Close. EARNINGS ARE OFF Drop of Nearly $3,000 Shown in Report for Month of May. By EDWARD C. STONE. Total net earnings of the Capital Traction Co. for May amounted to $64,814.29 against $67,728.20 in the corresponding month a year ago, ac- cording to the monthly report fil- . ed today with the ‘ Public Utilities Commission. While this is a falling nfi in earnings, yet is very slight. Operating _reve- nues were higher this year than they were in May 1928, being $389. 304.72 against . $386,038.63 a year ago. Operating expenses were low= er this year than in May 1928, $263.- .059.94 in compari- son with $265,386.~ 16. Taxes, however. were somewhat heavier, requiring $32,076.65 against *$26,071.22 in May of the previous year. The company’s net operating income for May amounted to $94.168.13 com- pared with $94,581.25 a year ago. The corporation also reported a small non- operating income, making a total gross income for May of $94,727.96 against $95.985.21 in the same month in 1928. The usual deductions from gross re- _turns left the traction company with “the total net income mentioned above of nearly $65000. The number of revenue passengers carried during the month was 5,072,201 compared with Tevenue passengers in May, 1928, num- bering 5,197,016. The number of rev- enue passenggrs carried were well above April of this year when 4,972,453 fares were paid. For the first five months of the pres- ent year the Capital Traction has re- turned a net income of $281,200.58. This compares with a total for the corresponding period in 1928 of $309,- 999.73, or a falling off for the period of S?B 799.14 so far in 1929. The figure is perhaps the most interesting in the report just filed because of its bearing on thec ar fare situation in Washington. The number of revenue passengers carried on the Capital Traction lines for the first five months of 1929 was 24,457,913 against 25508904 in the corresponding period in 1928. Local Banker Observes Birthday. ‘Thomas E. Jarrell, president of the ‘Washington Savings Bank, yesterday celebrated another birthday, receiving the congratulation of a host of friends. Mr. Jarrell has been a conspicuous figure in and real estate circles here for several years. ‘The bank przsldenltl u&nem to w.l::‘r- 4ngton as & young railroas egrap He gave up the telegraph key to enter the real estate business, in which he has been highly successful. dent of the Thomas E. Jarrell Co. Mr. Jarrell became interested in the banking field and has been head of the Washington Savings Bank for several years, Iollol'lna Jnhn D. Leonard in this positios Leonard now_being vice presldent of ‘the bank and h-vtnc Thomas E. Jarrell. 3814 Abitibi Power & Pap 35 159% 101 Abraham & Straus 650 389 Adams Express ( 85 Adams Exp pf (5). 7% Adams Millis (2)... 27 Advance Rumley 40% Advance Rumley pf. 2 Ahumada Lead. 95% Alr Reduction (3). 37% Air Wal E1 Ap(2%).. 413 Ajax Rubber. 4'%2 Alaska Juneau. 27% Alleghany Corp 991 Alleghany Cpf (5%) 12 100% 100% Alleg'y pfrets(5%). 2 86 Alllance Realty (13) 130s 241 Allled Ch & Dye (6). 28 166 Allis-Chalm Mf (7) 17 42% 22% Amerada Corp (2). 23% 10% Am Agricul Chem 73% 40% Am Agricui Ch pf. 135% 110 Am Bank Note (13).. 20% 14% Am Beet Sugar. . §0% 46 Am Beet Sugar pf. 73% 40% Am Bosch Magneto 62 41 Am Brake Shoe 2.40 34% 15% Am Brown Bov Ele 104 49% Am Brown BE pf(7 151% 107% Am Can (+4)... 142 139 Am Canpf (7). 106'; 92 Am Car & Fdy ( 70% Am Chain pf (7). 46% Am Chicle (2).. 43% Am Com Alc (k1.60). 23 23% Am Encaust Til (2) 1 75% Am & For Power.... 956 99% 95 Am & For Pw pf (6). 108 ms». 104'% Am & For Pw pf (7). 1 88 Am & For Pw 2d pf 9 24% Am Hawaiian (1) 14 301 Am Hide & Lea pt. 1 64 Am Home Prd (3.60) ~ 2 38 AmIce (13). a0 89% Am Icepf (6)....- 1 5213 Am Internat (12)... 49 60 Am La Fr & Foam pf 100s 12674 1021 Am Locomotive (8).. 32 50 Am Metal (3) 37 67 Am Nat Gas p .. 208 21% Am Planopf... 7008 81% Am Pow & Lt (11)... 358 70 AmP&LpPfA (3). 8 79 AmP&LpfAst(). 1 98% Am Pow & Ltpf (6). 2 40% Am Rad&Std San 2% 137 121*- 106% Am Roll Mill (¢2)... 26 74% 61 Am Safety Raz (15).. Am Sm & Ref pf (7). 79% 56 Am Steel Fdy (3) 85 65 Am Stores (2)..... 94% T1% Am Sugar Rfg (5). 111 104% Am Sugar Rfg pf(7). 60 35% Am Sumatra (3). Am Tobacco pt (6). 155 136% Am Type Fdry (8). 146% 67% Am Water Wks (c1). 104 97 Am Water W 1st(6). 27% 16% Am Woolen. . 58% 41 Am Woolenpf.... 9 Am Writ Paper ctfs. 49% 24% Am Zinc Ld&Sm.... 111% 94% Am Zinc Ld&Sm pf.. 140 99 Anaconda Copper(5) 238 62% 44 Anchor Cap (2.40)... 68% 44% Andes Copper (3)... 49% 29 Archer-Dan-M (2). 18% 10% Armour 111 (A). 10% 6% Armour 11l (B). 40%% 19% Arnold Constable 58% 49% Asso ApplInd (4) 70% 43 AssoDry G (2%) 110 94 AssoDG2d pf(7). 47% 40% Asso Ofl (2) 236% 195% Atch T & S Fe (1. 104% 99 Atch T&SF pf (5) 191% 169 Atl Coast Line (110). 67% 3214 At1G & W Indles. 724 53% Atl Refining (11%) 115 90 Atlas Powder (4) 106'% 100 Atlas Powdr pf (6) 15% 10% Atlas Tack.... 345 221 Auburn Auto (j4) 10 5% Austin Nichols. 42% 32 Austin Nichols pf been with the institution ever since il was founded. mneluy Council Chosen. g of the auditors’ sec- Endicott, Washington ‘Trust ?o.: ‘William M. Harris, Lincoln Na- tlonal Bank. Officers elected were Mr. Shaitan, and. Mr c X treasurer. Mr. Faber, retiring chairman, ‘was presented with a silver tray. ‘The annual report was made at the Montauk convention showed marked progress since the or- ganization drew away from the Amer- ican Bankers’ Association to become affiliated as a Gectwn of the District Bankers' iation. More Local Dlvldmllll Voted. ‘The board of directors of the Co- lumbia National Bank has declared the regular quarterly dividend of $3 per fihl.re. payable on July 1 on stock nf on June 29. 'flw directors of the Woodrlflge- Langdon Bank at the last regular meet- ing declared the usual semi-annual divi- dend of 3 per cent and an extra divi- dend of 1 per cent, payable on July 15 to_stockholders of record on June 30. Substantial increases in the sal- aries of the employes of the bank were also granted. At a meeting of the board of direc- tors of the Federal Security & Mort- gage Co. held on Tuesday the regular xlflerly dividend of 2 per cent on preferred stock of the company was declared, payable July 1. C. & O. Assets Show Increase. ‘The condensed statement of Chesa- peake & Ohio Railway Co., as of March 31, 1929, filed with New York Stock Exchange, shows total assets of $578,- 020,483, comparing with $569,464,656 on December 31, 1928, and profit and loss surplus of $101,442,133, against $97,- 603,051, Current assets were $22,655,- 153 and current liabilities $13,689,084, as compared with $21,623,375 and $13,- 19;!32 Tespectively, on December 31, The Pennsylvania Railroad earned its full 84 dividend in the first half of 1929, and at the present rate of eamn- will show upward of $8 a share for the present year, which will estab- lish a new high record. Telephone Bonds Mature. Bond houses in the financial district are calling the attention of clients to the fact that $1,120,000 Chesapeake & Potomac Telephone first 55 will mature on July 1. Holders cf these bonds should bear in mind that interest stops on the date of maturity. Keen inves- tors will lose no time in switching their funds into some other security. ‘This is the third important local bond issue that has been called within the Ppast three months. The first bonds were $2,496,000 Washington Railway & Elec- tric 6s, 1933, which were called for re- demption on May 1 at 102 and interest. ‘The next issue was $1,700,000 Potomac Electric Power first 5s, which matured June 1. Maturing of the Telephone issue on July 1 makes slightly more than $5,000,~ 000 of Iocal bonds that have passed into history this year. BANK AUDITORS ELECT. BALTIMORE, June 29 (Special).— At the monthly meeting of the Balti- more bank auditors’ conference the following officers were elected to serve for the fiscal year ending June 30, 1030; President, John P. White, jr., Western National Bank; firsf vice pusldzn'. H. Stadtler Nolan, Baltimore Trust Co. Second vice president, G. M. Danike! Union Trust Co.; secretary and trea: urer, Charles J. Wilson, Flrmen and Mechanics’ National Bank. CONSTEUCTIOX AWARDS. NEW YORK, June 28 (#).—Awards 356% 22% Autosales. 43% 36% Autosales pf (3). 271% 210 Baldwin Loco (7). 125 114% Baldwin Loco pf (7). 10l 133 115% Balto & Ohio (6)..... Balto & Ohio full pd. 801 75 Balto & Ohio pf (4).. 110% 104 Bamberger pf (63%). 10s 7% 64% Bang & Aroos (3%).. 6 33% 26 Barker Bros (2). 1 49% 38% Barnsdall (2) 106% 100 Bayuk Cgr 1s 29% 20 Beacon Oil. 101 73 Beech-Nut Pac! 84% 81 Belg NRy ptpf (63, 17% 11% Belding-Heminway.. 93% 78 Bendix Aviation (2). 93% 75% Best & Co (3 118% 82 Bethlehem Steel (4). 123 116% Bethlehem St pf (7). 61% 42 Bloomingdale Bros. . 136% 110% Bohn Alum&Br(t4).. 98 83% BordenCo (3)....... 143% 107 Borg Warner (§4). 63% 30% Briggs Mfg..... 737 42% Brockway M T (3)... 81% 60% Bklyn-Manhat (4)... 92% 83 Bklyn-Man pf (6) 212% 170 Bklyn Union Gas (5) 55% 38% Bruns-Balk-Col(3) 44% 18 BrunsTer&RyS. 42% 25% BucyrusErie (1).... 50 38% Bucyruscvptf (2%4). 531 46 Bullard Co (1.60).... 105% 95% Burns Bros pf (7). 829% 234 Burr Add Mch (15).. 110% 103% Bush Term deb (7) 9% 4% Butte Copper & Zinc. 12% 6% Butte & Superior (2) 41 28 Batterick Co. 1927 122% Byers (A M). 188 104% By-Prod Coke (13) 81% 724 Calif Packing (4). 4 1% Callahan Zinc & L. .. 135 124% Calumet & Ariz (10). 61% 36% Calumet & Hecla(4). 90% 78 CanadaDryG A (5). 265% 218 Canadian Pac (10).. 101% 95 CarClin& O sta (5). 33114 308 Cise (J 1) ctfs (6)... 321k 22% Cavanagh-Dobbs 79% 52 Celotex (3).... 48% 29% Cent Aguirre (2) 52% 40% Cent Alloy Steel (2). 128 88% Cerro de Pasco (6) 28% 16% Certain-teed Prod. 231% 195 Ches & Ohio (10).... 104% 178% Chesapeake Corp (3 19% 8% Chi& Alton.. 25% 11 Chi& Alton pf. 43 28 Chi&EastIll 667 49 Chi& East Ill pf. 23% 12% Chi Great Western 63% 38 ChiGreat Westn pf., 39% 27% Chi Mil St P&Pac. .. 63% 46's Chi Mil St P&Pac pf. 94% 80% Chi&NW (4). 39% 28% Chi Pneu Tool. . 56Y 48% ChiPneuT pf (3%). 139% 115 ChiRI&Pac (7). 447 Childs Co (2.40). 66 Chrysler Corp (3)... City Ice & F' (3.60) 19% City Stores (1) 49% City Stores A (3 56 Cluett Peabody (..) " Coca-Cola (4). . Coca Cola A (3)..... Collins & Alkman. Colo Fuel & Iron 5315 Columbla G&E (2) 103% Colum G&E pf A (6). 55% Couml Graph (29.1¢c) 121% Columbn Carbn t43 85 ComCrlstexw 6% 131% Com Inv Trust (14). 62% 27% Com Inv Trst war. ., 419% 225% Com Solvents (h8).. 238 107% Comnwealth Pwr t4. 35% 19% Congoleum-Nairn... 92% 69 Cong Cigars (1514).. 96 84 Consol Crr prpf6%. 70s 30% 25 Consol Film In pf(2) 125% 95% Consol Gas (3). 5 6% 2'% Consol Textile 11% 6 Container Corp B. 84% 471 Contl Baking A. 12 Container Corp A. 81 Contl Baking B. 60 Contl Can (23%) 79 Contl [nsurance (2). 17 Contl Motors (80¢).. 20% Continental Oil..... 82 Corn Prod (13). 51 Coty Ine (g2). 22% Crex Carpet. . 85'% Crosley Radio (11).. 42% Crown Cork & Seal. . 85 Crucible Steel (5)... 8% Cuba Cane Sugar pf. 11% Cuba Co of heavy construction operations throughout the country durlnl the wz week were valued at $64,555,000, pared with $125,751,000 in the mr Tesponding week last year, the Engi- neering News-Record reports. 11 Cuban-. 60% Cuban.. 1 117 Curtis Publllhiu[(.) 173% 135% Curtiss Aero (1). 130 120 Cushman's pt (7) 1334 674 65% TT% 105% 38 2215 1724 IZO fiauu Cutler-Ham (33%)... 4 65% Cuyamel Fruit 1 91 Deere & Co pf (7)... 208 119% Delaware & Hud (3). 200 Del Lack & W (17).. .5 124% Denv& R G W pf. ... 68 Detroit Edison (8). . 288 Devne & Ray A (13). 52% Diamond Match (8). 10s 140% Dome Mines (1).. 9 Dominion Strs (134) . 517% Drug Corpn (4). 109% Dunhill Inter (£4) 57% Du Pont de N(1415) . 1874 Dupontd N deb (6).. 115% Duguesne 1st pf (5). 994 Durham Hosfery. ... 51k Durham Hoslery pf.. 108 40 —_—— Eastman Kod (18).. Eaton Axle &S (3 4 Eitingon-Sch (214 28 Elec Auto Lite (6) 9 166% Flectrlc Boat. 21 184% 61 66 ¥l Pwr pt 50% pd (1 El Pwr & Lt pf (7).. FElec Stor Bat (5) Endicott-Tohn (5 4 Eng Pub Serve (11). 494 Eng Pub Svepf (5).. 14 Eng PubSve pf(53) 4 Equitable mdx(zy.)‘ 22 ErieRR 294 Erle RR Ist pf. Erie RR 2d pf.. Eureka Vac Cl (4) 1 Ewvans Auto L($214). 2 Exchange Buf (1%). 20s 4 Fairbanks Morse (3) Fash Pk Asso(k215). Fed Lt & Tre (113%) Fed Motor Tr (!I\r% Fid Phen F Ins (2). First Nat Stores 1%. Fisk Rubber Fisk Rub 1st p: Fleischmann (33). 127 Florsheim Shoe A... 1 4 Florsheim Shoe pf6. 1 Follansbee (12%) 4 Foundation Co...... 20 Fox Film A (4)...... 26 Freeport-Texas (4).. 60 Gabriel Snub A. Gardner Motor. Gen Am Tnk Ca: Gen Asphalt Gen Bronze Gen Cabl Gen Cable A (4. Gen Cigar (4). Gen Electric (6) Gen Elec spec (60c). Gen Gas&El A (el3) Gen G&ELDL A (7).. Gen G &EIpt B (7). Gen Mills (3)....... Gen Motors (13.30).. Gen Motors deb (6) Gen Motors pf ( Gen Outd Adv A (4). Gen Outd Ad vte (2). Gen Public Serv(b§). Gen Ry Signal (5) Gen Refrac (13%) Gillette Safety R (5) Glidden Co (11%)... Gobel (Adolf) % Gold Dust (23 Goodrich BF (4 Goodyear Tire (5 Goodyear 1st pf (7). Gotham Silk H (2%4) Graham-Paige...... Granby Consol (7).. Grand Union. .. Grand Union pf (3). Granite City Stl (3) Grant WT (1)...... Grt North pf (5).... Grt North pf ct (5).. Grt Nor Ore (a1%).. i Grt West Sug (2.80). Greene Can Cop (8). Gulf Sta Steel (4)... H. Hahn Dept Stores. .. Hahn Dept S pf(6 Hartman B (1.20) 4« Hayes Bdy (b8%s Hershey Chocola Hershey Choc pt (4). Hershey Ch pr oe6) Hocking Val (10)... Hoo (R) & Co. . Hollander & Son Houd Hersh B (13). Househd Fin pf (3).. 4 Howe Sound (t435).. Hudson & Man (23). Hudson Motor (5)... Hupp Motor (£2).... 4 Tllinols Central (7).. Independ Ol & G (2) Indian Refining. . Indian Refining ct Ingersol Rand (53 Inland Steel (3%) Inspiration (4). Interboro Rap T! Intl Agricultural. Intl e n [ Intl Cemen: 22 Intl Comb Enl iy, s IntlCmb Eng pf (7). 6 Int] Harvester (23). Intl Harvpf (7)..... Intl Match pf (3.20). Intl Mer Marine . Intl Mer Marine pf. . Intl Nickel Can (80c) 260 Intl Nick Canpf (). 1 12 Intl Pap & P A(2.40). Intl Pap & Pwr B. 3 Intl Pap & Pwr C. 19 Intl Pap & Pwr pf(7) 3 Intl Print Ink (2%). 3 Intl Print Ink pf (6). 50s IntlRysCentAm... 1 Intl Ry Cn Am pf(5).100s Intl Salt (1%3) . 10s Intl Tel & Teleg (2). 676 Inter Dept St (2). 1 Intertype (£1133) 2 Island Creek Coal(4) 1 3. i Jewel Teanew (3).. 5 8% Johns-Manville (3).. 24 186% Jones & Laugh pf(7) 20s uw Jordan Motor Car. .. Kan City Sou (5). Kan City Sou pf (4) Kaufmann D S (1%) Kayser J & Co (5) Keith-Albee-Orph 4 Keith-Albee-O pf (7 Kelly-Spring Tire Kelsey Haves (2) Kelvinator Corp Kendall Co pf ( Kennecott (5) 4 Kimberly Clrk Kinney (G R) (1)... Kolster Radio. . Kraft Ph Ch (13). t Ph Ch pf (6%) % Kresge S S (1.60) Kress SH (1).. 4 Kreuger & Tol(1.34). Kroger Gr&Bak(c1), Laclede Gas pf (5). Lago Ofl & Trans Lambert Co (8) Lee Rubber & Tire. . Leh Port Cem (2%). Lehigh Valley Coal. . 1 Leh Val Coal pf (3).. Lehigh Valley (3%). Lehn & Fink (3). 4 Liggett & My (15). Liggett & My B (15 Lima Locomotiv Link Belt (2.40). Liq Carbonic (t4%). Long Bell Lumb A. Loose-Wilcs (2.60) Loriilard (P) Co.. Louisiana O1l. . Louis Oll pf (63). LouG&EIA (1%).. Louls & Nash (7) 4 Ludlum Steel (2).... Ludlum Stl pf (6%). -M- 4 McCall Corp (4). McCrory B (2). McCrory pf (6) Melntype Pore M(i). 4 McKeesport TP (4). McKesson & Rob (2) McKes & Rb pf(3%). Mack Trucks (6) Macy Company (13). Madison Sq G (1%). Magma Copper (5) s Manati Sug: Mandel Bros (2‘/.) 25 Man Elec Supply.... 4 Manhat Elev gtd (7), 80! Davison Chem...... 52 Dividend Rate. A4d 00, mm. uv Close. l:lou 413 3d% Shattuck F G (2).... Man Elev mod (d5).. m Man Shirt (2). 29% 29% i 25% Shell Union (1.40) 14 26% 26% 26'a 13% 471 Shubert Theater (5). 27 45% 484 Maracaibo Ol Exp. 1 Marland Oil 16 Marlin-Rockw (t4) 3 Marmon Motor (4) 15 Mathieson Alk (e2).. 65 May Dept Strs (4)... 55 Maytag Co (12 Maytag Co pt (3 - Melville Shoe (1.40). Mengel Co. Metro Gold pf (1.89). i Mexican Seaboard. Miami Coprer (4)... Michigan St1 (2%4).. Mid-Continent P (2). Middle States Oil.... 4 Middle States Oil ct.. Miller Rubber....... Minn Moline Pwr. ... Minn Moline pf 6% Minn & St Louis. MStP&SSM. Mo Kan & Texas. . Mo Kan & Tex pf(7). Missour| Pacific. ... Missouri Pac pf (5 Mohawk Carpet 12 Mont Ward (2%) Mother Lode (40¢). .+ 4 Motion Picture . Moto Meter A . Moto Meter A cf . Motor Products (17). Motor Wheel (2).... Mullins Mfg. . Munsingwear (13%). Murray Corp (a8 Nash Motors (6).... ~ Nash Chat & St L( 7). 208 Natl Biscuit (615).. Natl Biscuit pf (7).. Natl Cash Reg (t4).. 4 Natl Dairy (311%)... Natl Dept St 1st «7) Natl Distillers. .. Natl Pwr & Lt (1)...1168 Natl Radiator. Natl Rys Mex 2d pf. . Natl Supply (18) Natl Tea (1%) Newport Co A (3)... Newton Steel (3) N Y Air Brake (3)... 4 N Y Central (8). N Y Dock NY&Ha 3 NYNH&H (4) NYNH&HDL().. N Y Ont& West. . N Y Steam 1st pf(7). 208 Norfolk&Wstn(110). 5 % North Am(b10%stk) 230 North Am Ed pf (6 No Ger Lloyd (3.41). Northern Pac (5). North Pac et (5).... Norwalk Tire & Rb. . Ol1 Well Supply. Ol1 Well Sup pf (7). Oliver Farm Equip. Olivr Fr Ep ev pt(3). Olivr Fr Eq pf A(6). 4 Omnibus Corp.. 1 Orpheum Cir pf(8). .lxnu Otis Elevator (6). Otis Elev pf (6). Otis:Steel. Owens 11l Glass (4).. -P- 5 Pacific Coast 2d pf. . Pacific Gas & E (2).. 2 Pacific Lighting (3) Pacific Oll stubs Paclfic Tel & T ( Packard Motor (15 Pan-Am Petroleum. . Pan-Am Pete B..... Paramount-F-L ( Park & Tilford (33) Park Utah (80c) Pathe Exchange. Pathe Exchange A Patino Mines (3.89) . Peerless Motor Car.. Penick & Ford. . Penn Dixie Cement. . 4 Penn Dixie Cm pf(7) Pennsylvania RR(4) People's Gas Chi (8). Pere Marquette (18). Pere Marq pr pf (5). Phelps Dodge (3). Phila & Read C& I (1%).. Phoenix Hoslery i Plerce Petroleum. ... Pillsbury Flour (2). Pirelli Co A (2.88) Pittsburgh Coal Pitts & W Va (6). Poor & Co (12). P Rican Am To (A)T P Rican Am To (B).. Postal Tel & C pf(7). Postum Co (3) Prairie Oll & G: Prairie Pipe L Pressed Steel Ca: Pub Sve NJ (2. 60) Pub Sve NJ pf (6) Pub Sve NJ pf (8) Pullman Corp (4). % Punta Alegre Sugar. Pure Oi1 (1%) Pure Oil pf (8) Purity Bakerles (3) Radio Corp..... Radio pf A (3%) Radlo pf B (5) Radio-Keith-O: Reading 1st pf (2) Reading 2d pf (2 Reis (R)&Co 1st(7 Remington-Rand. Reming-Rnd 1st (7). Rep Ir & Stl pt (7) Reynolds Spring. ... Reynolds Tb B(2.40). Richfield Oil (2)..... Rio Grande Ol (k2). Ritter Dental (2%).. Rosaia Ins (2.20). Royal Bak Pwdr(1) Roval Bak P pf (6). . Royal Dutch(a1.336) Safeway Stores (3). Safeway pf (6). Safeway Strs pf St Joseph Lead (13) St L-San Fran (8).. St L-San Fran pf (6) Savage Arms (2).... Schulte Retail Strs. . Sears Roebek (12%). Seneca Copper. . Sharon St1 Hoop (1). 250 1 162 Texas 75 Simmons Co (3) 2 4 101% 101% 18% Simms Pet (1.60)... % 30% SinclairOil (12%)... 4 36% Skelly Ofl (2). 3 39% Sloss Sheffeld 58% Snider Packing. 12 Snider Packing p 4 B4 o Porto R Sug 1214 37% So Port Ric § pf (8). 208 124% Southern Cal Ed (2). 394 64! Southern Dairies B Sobthiera Pacific (§). 12 Southern Rwy (8) Southern Ry pf(5). . Sou Ry M & O ct (4). Spalding A G (1.60). Spang-Chalfant. . Sparks Withgtn (14) Sparks Withgtn (n). Spencer Kelg(1.60).. Spicer Mfg. Spicer Mfg pf (3)... Splegel-Mav-St (3).. Stand Com Tob (1). . i Stand Gas & EI (3%) 330 Stand G& Epf (4)... 5 Stand Ol Calif (13). 42 Stand Ol N J (12)... 140 Stand OIL N Y (1.60). 48 4 Stand Plate Glass: 1 Sterling Sec (A). Sterling Sec pf 1.20. . Steware Warnr(34) Studebaker (15).... Studebaker pf (7). Sun Oil (g1).. Sun Ol pf (6) Superior Oil. . Superior Steel. ... Sweets of Amer (1) Symington A. Telautograph (1) Tenn Cop & Ch (1).. Texas Corp (3). Tex Gulf Sul (4). PC&OIl ( Texas Pac Land Tr. Thatcher Mfg. Thatcher pf (3. 1 The Fair (2.40) 2 Tide Water Asso. 16 Tide Wat Asso pf(6) 1 4 Tide Water Oil pf(5) 4 % Timken Det Ax(80e). 1 4 Timken Roller (3)... 144 Tobacco Pr (1.40)... 145 Tobacco Pr A (1.40). 34 Tobacco Pr A et. 1 Transcontinental 27 Trico Prod (2%)..... 85 Truscon Stl (11.20).. Twin City Rp T (4).. Underw-El-Fish(4).. 34 Union Bag & Paper.. 4 4 Union Carbide( Union Oil Calif (2) Union Pacifie (10)... 4 Union Pacific pf (4). Union Tank Car(5). . Utd Aircraft&Trans. 2 128 Utd Alrcraft&T pt3. 4 Utd Biscuit (1.60)... 4 Utd Cigar Stores(1). Utd Fruit (c4). 2 Utd Gas & Imp (1).. 778 Utd Gas & Imp p£(5) 2 U SCastlirnPip (2). 36 U SCstIP1st(1.20) 6 % USCstIP2d(1.20). U S Distributin; U S Distrib pf (7). U S Hoffman (4). U S Ind Alco (6). i USLeather..... U S Leather A (4)... U S Leather pr pf(7) U S Realty (5). U S Rubber. . J 8 Rubber 1st pf. U S Smelt Ref (3%). U S Smelt Ref pf 3% » U S Steel (7) 12 U S Steel pf (7). Univ Leaf Tob (3)... Univ Pict 1st pf(8).. 305 Univ Pipe & Rad Util Pwr & Lt A (e2) 79‘] 5912 Vicks Shrv&P pt(5). 108 % % 30415 279% 176 175 96 97 60% 607 18 1815 Victor Talk prpf(1). 2 Vulean Detinning. .. 820s YVulcan Detin pf (7). 10s Vulcan Detin A..... 100s Wabash. . 14% Wabash pf A (5) 1 914 374 ‘Waldorf Systm (1%) !;l 33% 24% . Walworth (1.20) Colum Loft .. 67 . 117% Dividend T 94% 94% | taration. 39% 40y SURit of trading lets than 100 Shares iRarty exera fPlus 20 201a | 4% in stock. « 163% 164 ©|® Paid this year—no o1 gy |in stock. d Payable " 4|tPlus 10% in stock. 50 45% | jPlus 8% In stock. Col Graph . Int Tel&Tel ..July § 309 cash payments.based on ard Baking B. arner Bros Pict. Warner Bros Pic (n) Warner-Quinlan (2). Warren Bros (15)... ‘Warren Bros 1st (3). * Warren Fdry & Pipe. Wess Oil & Snow(2). West Penn ELA (7). 4 West Penn El pf (6). West Penn Pw pt (1) Westn Dairy A (4).. 4 Western Maryland Western Pacific. Western Pacif pf. Western Union (8).. Westngh Air Brk(2). Westngh E1&M (4).. Weston El Instru. ... Westvaco Chlor (2). Wheeling & LE pf.. 4 White Eagle Oil (2). White Motor (1).. White Sewing Mach. Wilcox Ofl & Gas. ... Wilcox Rich(A)2%.. Wilcox Rich(B)e3. Willys-Over (c1.20 Willys-Over pf (7) ‘Wilson & Co pf Woolworth Co Woolworth Co. Worthington Pump.. 137 66% Worthington B...... 3 178 Wright Aero (2). Wrigley Wm (4) 53 1344y 3 734 3% -X- Yellow Truck & C... 248 42% i 42w Young Sp&W (12%). 20 68% Young Sheet& T (5) 26 141% RIGHTS EXPIRE AmTel&T. July 1 655 Ches & Ohfo..July 1 11 Gas&Elec ... 592 July 10 237 eeo.July s 72 Sales of Stocks on New Yorl Exchange. 544,800 2.767.000 as given in the the latest quarterly or half 1,781,600 3,187,100 $3 in preterred stocl fexularrate. b Favable. in stock. when earned. e Pavable in cash e Plus 6% in stock. hPlus 3% U5 stock. kPlus 3% in stock. Markets at a Glance NEW YORK, June 28 (#).—Stocks strong. People's Gas climbs 25 points. Bonds steady; telephone convertibles reach new peak. Curbstrong; electricbond and Share jumps more than 5 points. Foreign exchanges steady; French francs makes new 1929 peak. Cotton higher; unfavorable weather and weevil complaints. Sugar higher; firmer spot market. Coffee lower; freer Brazilian offerings. CHICAGO, June 28 (#)—Wheat firm; bullish crop reports. Corn firm; un- favorable weather Tllinois. Cattle steady. Hogs higher. MONEY MARKET. NEW YORK, June 28 money steady; 10 per cent all day. 30 days, 7'%4a7% 60-90 days, 7'aaT’ Prime commerc nce tances easier; su dlys 513853 d-yu. 515a5%: 4 months, 5% iths, 5 % SHORT-TERM SECURITIES. (Peported by J. & W. Seligman & Co) B Offer. Allis-Chalmers Co. 5s 1937...... 98% 98% Aluminum Co. of Amer. Bs 1952 100% Armour & Co. Del. 5las. Baltimore & Ohlo 414 1 Gen Mot Accep. Corp. General Pet. Corp. Ss 1 Maich Corp. Ss 194' Oregon Snort. Line 41 1929, Enillips Pet. Co. 8ts 1030, | Corp. 81281937 Eheh Dhion o 6o, Sinclair Crude ol Co. 8% OIl N Jersey S5 (#).—Call | Un! Western Electric Wheeling Steel Corp. § SILVER QUOTATIONS. NEW YORK, June 28 UP).—Bar sil- ver, 52% luxiun’ dollars, 397%. BILLION-DOLLAR UTILITY COMBINE IS RUMORED By the Associated Press. NEW YORK, June 28.—Conversa- tions looking toward a union of the public uitility interests of the Insulls of Chicago and the North American Co. are understood in Wall street to be under way. Conferences are re been held recently b lrun pruldem of the west Utilities Co., and Frank L. Dame, head of North American. Stocks of both companies have had s ldvmm in the past few weeks. Bl s - traded ond t}éfimNew ork_ Stock. cchange an: c York Stock llchAI'AIQ and Middle W‘E‘B: utilities, dealt on the New York Ctrb Exchange and Chicago Stock lb:chnnle. have advanced $50 from their low yr!ut of the year. The union would create a billion-dol- lar corporation, with combined net m- come of more than $125,000,000. to_have J. Insull, Six million dollars State of Rio de Janeiro external 30-year 6'%; cent secured 1d bonds. priced at 911 and accrued interest. Yield to mat 7.20 per cent. S, 5 171% 169 170 170% * | Public SDGYe fable are the anpuai IN'BULLISH DRIVE Operations for Advance gon- tinued—Easier Credit Con- ditions Are Seen. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, June 28.—Bullish op- erations were conducted at a vigorous pace in today's stock market, which completely disregarded the increase of $122,000,000 in brokers' loans last week. utility, steel and electrical equipment shares were in the forefront of the advance, many or the gains rang- ing from 3 to 20 points. Meanwhile, crullt conditions showed signs of relaxation. Call money re- newed unchanged at 10 per cent for the fourth consecutive day; and while the undertone was firm, the rate was ex- pected by money brokers to hold at that figure. Time money was slightly easier, with the four-month maturities quoted as low as 7!; per cent. This was construed as an indication that rates generally would work lower next month, although flurries in call money 3!’: likely until around the middle of ul Resumption of payments on the Erie Railroad preferred issues for the first time in 22 years was the most out- i standing development in the day's financial news. All three classes of Erie stock responded to the announce- ment by climbing more than $2 a share to new high records. New favorites sprang up in the Iat- ter part of the session, I. T. & T. reach- ing 99 and “Katy" mmmnn 57%, being among the more active stocks. ~Many high-priced issues continued to_eclipse their previous best figures. Peoples g‘:e:m 25 mlc:ou,,, Commonweal o was up 141;, R. H. Mac; Wheeling & Lake Erie 9, Ccrmmgrflal Solvents 7 and Westinghouse Electric 6. The close was strong. Strength at Opening. The market opened with an outburst of strength. Several blocks of 4,000 to 10,000 shares changed hands, with initial gains of a point or more quite common. Engineers Public Service opened with a block of 10,000 shares at 60, up 1'4; Missouri-Kansas-Texas, with a block ‘of 5,000 shares at 56, up 1, and a new high record; American and Foreign Power with a block of 5,000 shares at 115%, up 1, and National Power & Light with a block of 9.000 141% | shares at §1!3, up 1%, and a new high record. Du Pont showed an initial gain of 3 points, Timken Roller Bearing, 2!, and Sharon Steel Hoop, 1!; at 47, a new high. ‘Wall Street was not surprised by the increase of $122,000,000 brokers" loans, which was attributed in part to the expiration of stock rights. expansion of memb°r bank borrowings helped to relieve the midyear strain, but reduced the reserve ratio of the New York Federal Reserve Bank from 81.1 to 77.2 pr cent. Early buying orders were distributed over a fairly broad list, but the public utilities continued to occupy one of the most prominent roles. Railroad shares were rather slow in getting started but a better inquiry was apparent for some of the equipment issues, particularly | General American Tank Car which changed hands in large volume. Continental Oil of Delaware, trading in which was suspended yesterday be- catise of the confusion arising from a similarity in name with another oil stock of the New York Curb market, opened at 35, which corresponds with the closing price yesterday of Marland for which it is exchangeable share for share. Continental closed yesterday at 29 after having sold as much as 14 points below ILS reil Jmarket value, BALTIMORE, June 28 (Special).— The Wes.2rn Maryland Railway report- ed gains in both operating revenues | and income for the month of May, and | a gain in net income for the five | period, although gross showed a_drop. Operating revenues for the month | totaled $1,545,016, compared i 4|509,126 last year, while net amounted to $178,085, against 3126 'lfl a year ago. For the five months operating reve- nues totaled $7,480.000, against $7.723,- 771 for the corresponding period last year. Net income was $915,687, against $812,399 in 1928. Based on estimated earnings for the first three weeks of June, results for the month will be the most favorable for a long time in respect to gross at least. Estimated earnings for the three weeks were $1,057,598, an in- crease of $49,970. or 5 per cent. Re- ceipts from coal traffic dropped $9.196, ior 2 per cent, the smallest shrinkage | for months, but earnings from freight other than coal increased $54,945, or 11 per cent. Merger Plans Near Completion. NEW YORK, June 28 (#).—Nego- tiations are understood to have been practically completed for the merger w‘lfl‘l the International Projector Cor- | poration of several other companies in the industry, the names of which were not_revealed SPECIAL!! Will sell or lease two-story brick and concrete building on main thoroughfare within two squares of Woodward & Lothrop’s. Suitable for light manufae- turing, store, etc. WARDMAN Call Office, Main 3830, or Mr. Hill, Main 10291 On Improved Real Estate, Situated In Washington or Its Suburbs Come to us if you need money for refinancing completed proper- ties or for construction. We make loans in any amount, quickly. In requesting loan, give brief outline of property . . . its ap- proximate valuation, and amount of money desired. REALESTATE MORTGAGE & GUARANTY CorPORATION Capital Resources $ 3,400,000 24 JACKSON PLACE