Evening Star Newspaper, July 6, 1929, Page 18

18 .» FINANCIAL. NEW ASSOCIATION " 1S ORGANIZED HERE iFidelity Building & Loan Is “‘r Title of Firm—Trustees s Named. i ! . BY EDWARD C. STONE. The Fidelity Building & Loan As- #ociation, organized under the laws of the District of Columbia and under supervision of the controller of the currency, s the latest organization of , this kind to open for business in the National Capital. The new concern | 3s located in the National Press Building. ! The trustees and directors of the new concern include Harvey B. Cox, special assistant to the Attorney Gen- eral: George D. Casto, manager cor- porations, office of alien property cus- | todian; Marcus Borchardt, attorney John L. Fletcher, Southern Surety Co. N. M. Minnix, president N. M. Minnix Co.: R. L. Milor, president R. E. Milor | Co.; Katherine R. Pike, president Na- tional Association of Woman Lawyers and chief of the legal division Bureau of Customs; Alfred B. Baker, vice presi- . dent Suburban Title & Invesment Cor- voration; Harry F. Miller, Mount Rainier, Md.; Robert A. Ryland, presi- dent. Arlington Title Co.: George E. H. Goodner, Federal income tax ad- viser, The firm's general counsel consiste of Fred B. Rhodes and Willlam E. Rich- ardson, Chairman's Death Keenly Feit. . It is generally believed in the. finan- ®ial district that it will be some time before the Federal-American Bank has a new chairman of the board of directors to take the place left vacant by the death of William T. Galliher, al- ihough it is too soon after Mr. Gal- liher's death to expect the bank offi- cials to outline any plans. Other bank- | ers. however, call attention to the fact that Mr. Galliher was made chairman at the time of the consolidation of ‘the American and Federal Banks, when «John Poole became president. As mat- lers stand at present, the bank does not | need 8 new chairman of the board. as Mr. Poole is abundantly able to carry on the duties of both positions. Mr. Galliher's death, however, will be keenly felt in the bank. He was a fa- vorite with the other officials and the | vest of the personnel. He never con- fined his conversation to the official #tafl, often having chats with the mes- sengers and others not near the top of the banking ladder. He was rich in friendships as well as highly prosper- ©us in business, and at 73 he had re- ceived far more honors than most men are accorded at any age. He always dis- regarded his age and remained very ac- tive until his last day in the bank. Houston Made Section Head. The organization meeting of the fduciaries _section of the District of Columbia Bankers’ Association was held vesterday afternoon, when officers, who were elected at a meeting held art Montank Beach during the bankers' mssociation convention, were installed. ‘They are: David N. Houston, trust officer, American Security & Trust Co., chairman; Bernard I. Colton, trust of- ficer, District National Bank, vice chairman, and Kenneth F. Brooks, as- sistant trust officer, Riggs National Bank, secretary. These officers, with William H. Baden, trust officer, Wash- ington Loan & Trust Co., and Erskine Gordon of the Federal-American Na- tional Bank, form the executive coun- «cil of the organization, ‘Wholesale Trade Reviewed. Seventy-seven wholesale firms, Tep- ¥esenting six important lines of trade in the fifth reserve district, reported 10 the Federal Reserve Bank of Rich- mond on their May business. In- creased sales during the month in comparison with sales during May, 1928, were shown in furniture, but sales of groceries, dry goods, shoes; hardware “and drugs were smaller than sales during the corresponding |month Jast year. In comparison with sales during April this year, May sales ®ained in groceries and furniture, but declined in dry goods, shoes, hard- ''ware and drugs. Total sales since January 1 were darger In furniture than during the corresponding five months of 1928, but grocery, dry goods, shoe, hardware and drug sales were smaller this year than lasi. The furniture increases mentioned were chiefly due to opera- tions of one firm and did not truly reflect developments in the industry #s a whole. Stocks on hand at the end of May this year were larger than stocks on hand May 31, 1928, in grocerles and (hardware, but dry goods and shoe istocks were smaller on the 1929 date. During May stocks of shoes on the shelves of the reporting firms in- creased over those on hand on April 30 this year, but stocks of groceries, 'dry goods and hardware declined dur- {iing the month. Collections during May were better '%han in April in groceries. shoes snd drugs, but were slower in dry goods !and hardware. The May 1929 percent- . ages of collections during the month to outstanding receivables on May 1 | were higher in all lines for which fig- urese were available than the May,! 1928. percentages, Heard in Financial Distriet, | Peter A. Drury, chairman of the | board of directors of the Merchants’ Bank & Trust Co. expects to pass his Summer vacation abrosd. He will sail !1he latter part of July aboard the Tle de France. Wade H. Cooper, president of the Continental Trust Co. and the United States Savings Bank, has bsen spend- ing a few days at Atlantic City, being _ there over the Fourth. C. H. Gockeler, vice president of the District National Bank, passed the Fourth at Margate City, N. J., and will | :'!etum there later for his annual vaca- on. Arthur Foraker, manager of the local office of Eastman, Dillon & Co., has re- ! turned from a short visit at Monterey, | & resort in the Blue Ridge Mountains, Eliot. H. Thomson of the Washington | Loan & Trust Co.. has returned from a short vacation, which he took follow- | ing the bankers’ convention, at which he made a fine report as chairman of | the association’s advertising committee. ! June Chain Store Reporis Out. | P. W. Woolworth June sales, $23,609. 078, increase 5.39 per cent over June, 1928 six month, $135,808,268, increase | 8.40 per cent. McCrory Stores June sales, $3,334,490, ' increase 7.5 per cent over June, 1928; for six months, $19,025,547, increase ! 8.4 per cent. S. S. Kresge June sales, $12,571,79i increase 6.2 per cent over June, 1928; ®ix months, $67,627,807, increase 7.7 per cent. Childs Co., June sales, $2,175,354, in- crease 6.6 per cent over June, 1928; #ix months, $13,319,555, increase 1.1 per cent. ‘The recent advance of 75 points in Maryland & Penmvlunhflumlmd P! shares to a record high is be- lieved to result from bid- ding between existing and interests sponsiring the Sfth Esstemn trunk line. ‘Washington Bank Clearings. e Wi clearings " week e m?c.mnmeum.- 083,000 vious for %fi“flfl:‘:fi of 7.2 per cent over the 1928. nk clearings the United States ~Prev, 1020~ Stock ana Rales— Prov, High, Low. Dividend Rate. Add 00, Hizh, Low. Close, Close. 35% 27% AdamsMillis (2).... 1 31% 31% 31K 304 104% 27 Advance Rumley.... 20 40 37i5 39% 37 119 40% Advance Rumley pf. 8 60 59 60 69 4% 1% Ahumada Tead... 4 1% 1N 1% 1% 166% 95 Air Reduction (3)... 6 163% 153 153 1524 487 37k Air Wal Bl Ap(2%) 4 42% 42%h 4% 427 11% 4% Ajax Rubber. 3 5% b% 10% 4% Alaska Juneau...... 19 613 6% 6l 6% 25 12 Albany P W Faper. . 113 18 18 18% 43%. 27% Alleghany Corp.....1250 41% 40% 41l 41 106 99% Alleghany Cpf (514) 106 105% 105% 108 105 100% Alleg’y pfrets(blz). 6 104% 104 104% 104% 130 86 Alliance Realty(f13) 50s 130 130 130 130 233% 241 AllledCh & Dye (6). 86 339 335 339 333% 280 166 Allis-Chalm Mf (7). 3 270 270 270 273 42% 2215 AmeradaCorp (2)... 31 32% 31% 32 384 137 110 AmBankNote (13).. 4 134 1338 134 18¢ 20'% 14% Am Reet Sugar. 2 15 15 15 15 73% 40% Am B Magn ® B8 BT BT 8 62 45 Am Brake Shoe 2.40. 2 56% 56 56 56 104 49% AmBrown BEpf(7) 10s 83 83 ‘83 /3% 160% 107% Am Can (14)....... . 179 158% 157 157% 168% 106% 92 AmCar&¥dy (6)... 12 100% 98 98 100% 85% 70% Am Chain pf (7) 1 80 80 80 80 66% 46% Am Chicle (2). 8 651 65 6 65 55 435 AmCom Alc (k1.60). 61 4B 441y 48 44u 47% 28% AmEncaustTil(2).. 2 20% 20% 2! 30 13874 75% Am & For Power..... 57 116 114 116 114 108% 104 Am&For Pwpf (7). 1105 ‘105 105 104% 42 24% AmMHawaiian (1)... 1 33% 8331 331 384 85% 64 Am Home Prd (3.60) 4 2% T2 2% T2Y% 48 38 AmJce (13)... 11 43% 43% 43% 43 76% 52% Am Internat (i2). 36 128 102% Am T.ocomotive 14 119% 118 AmLocopf(7)..... 1 188% 147% AmMch&Fdy (4).. 4 81% 50 Am Metal (3).... 3 135 113% Am Metal pf ( 147% 81 Am Pow & Lt (11) 303 98% Am Pow & Lt pf (6). 80 70 AmP&LDIA(3)... 11 8% S4% 79 AmP&LpfAst(5). 3 52% 40 Am Rad&Srd S(1%). 144 64% 43% Am Republics. S 121% 106%a Am Roll Mill (¢2)... 31 % 811s 98l 56 65 104% 36% 17 198% 160 160% 136% 107% 87% 16% 391 9 99 625 43 44% 85% 20 10% 5% 43 195'% 169 324 b3% 10% 221 534 22% 114% 115% 6445 105 26 86 38% 98Y) 20 73 81 8 76% 82V 116% 110% " 118 3% 42% 60'n 83 170 38% 18 25% 38% 1% 95% 234 BA% 102 5 110 122% 2% 174 124% 36% e 78 265% 218 233 228 48% 36 " 3343; 308 79% b2 521 40% 120 88% 28% 16%5 247 195 8% 6% 8% 28 49 12% 27% 48% 80% 28% 48% 116 106% A4 66 ‘49 56 120% 46% 48 56 53 86 5b6% 121% 43 9514 131% 27% 226% 107% < 19% 6% 84 954% 96% Y 2% 1 R, 28% 14% Contl Motora (30c).. 33 3514 20% Contl Oil of Del 7 34% 34% 38412 354 102% 82 CornProd (1334).... 266 105t 101% 105% 101% 144% 139% Corn Prod of (7).... 10s 139% 139% 139% 141% 821 b1 Coty Inc (32) 422 6T% 65% 67 65% 57% 22% Crex Carpet... 1 30% 304 30% 30 125 86% Crosley Radio (11) 6 92 91k 92 9K 60% 42% CrownCork&Seal.. 12 60% 59% 60% 60% 106% 85 Crucible Steel (5)... - 4 104 103% 104 108% 5% 17 Cuba Cane Sugar 6 3 3 3 3 18% 6% Cuba Ca: 9\ 24% 11% Cuba Co 16% 14% LR T 13% 13% 95 80% Cuban-Am Sug pf. 631 64 6% - 2 Do 2% 2% 118 113% 16k 115% 173% 135% Curtiss Aero (1). 2 158% 168% 158% 158% 130 120 Cushman'spf(7)... $0s 120 120 120 120 78 58% Cutler-Ham (33 3 78 % % T8 69% 42% Davison Chenr, 20 651 54 % BB 483 Bl 9-.?-.( Yes 1 u& 'r ;2’ 116 Deére & Copf(7) 10; ;:z‘l ll& 2] 1334 1204 65 132% 1284 1824 127% 1 69 6 68 Dévne & Ri 12 504 50% 80 20s 113% 118% 113% 1134 1 9% 956 9 9% 304 ¥ 40% Briggs & Stra Am Seating (3).... Am Shipbuilding (8 Am Sm & Ret (4). Am Steel Fay (3). Am Stores (2).. Am Sugar Rfg pf(7). Am Sumatra (3) Am Tel& Ca (5).. Am Tel & Tel (9) Am ‘Yobacco (8) . Am Tobacco B (8) Am Type Fary (3) Am Type Fdry pf(7) Am Water Wks (c1). Am Woolen . Am Woolen pf. Am Writ Paper Anaconda Copr (7). . Anaconda W&C (3).. Anchor Cap (2.40)... 1 ) 1008 22 36 - S + 108 14 2 216 1 Andes Copper (3). o Armour Del pf (1) 2 Archer-Dan-M (2) 13 Avmour 111 (A) ki Armour 111 (B) 67 AssoDry G (2%). 5 Atch T & S Fe (10) 25 Atl Coast Line (110). AUl G & W Indies Atl Refining (11 Atlae Tack. . Auburn Auto (j4)... 7 Austin Nichols. Autosales....... ——— e Baldwin Loco pf (7). 208 Balio & Ohio (6). . b4 Bamberger pf (8% ). 80s Bang & Aroos (3%).. 18 Bang & Aroos pf (7). 10s Barker Bros (2).... 100s Berker Bros pf(8%2). 10s Barnsdall ($2%).... 42 Bayuk Cgr 1st pf(7). 308 ReaconOll....... L Beecn-Nut Pack (3) . Belg N Ry pt pf (16). Bendix Aviation (2). Best & Co (3)..... Bethlehem Steel (4). 143 Rethlehem St pf (7). Bohn Alum&Br(i4).. Brisiol Myers. Rritish Empire Brockway M T (3)... Bklyn-Manhat (4) Bklyn: npf (6). RBklyn Unfon Gas (5) Bruns-Balk-Col(3).. Bruns Ter &Ry 8. Bucyrus Erfe (1) Bucyrus ev pf (23). Bucyrus of (7)...... 2 Burns Bros of (7)... 10; Burr Add Mch (15).. Bush Term (52) . Bush Term deb (7) Bush T BlAg pf (7).. 108 Byers (AM). 10 Calif Packing (4). Callahan Zine & L. Calumet & Ariz (10 Calumet & Hecla (4) . Canada Dry G A (5). 13 Canadian Pac (10)... Canadian Pac 1st pd. Cannon Mills (2.80).. 2 Cose (TI)ctfs (6)... 15 Celotex (3). 1 Cant Alloy Steal (2). 38 Cerro de Pasco (6 1 Certain-1eed Prod. 2 7 2 Ches & Ohio (10).. Chesapeake Corp (3) Chi & Alton.. Chi & Alton pf. Chi & East {11 Chi & Fast 11i pi Chi Great Western. .. Chi Mil St P&Pac Chi Mil St P&Pac pf. Chi &N W (4). Chi Pneu fool. Chi Ppen ' pf (334) ChiRI&Pae (7).... 1 Chi R1 & Pac of (7). 1 Y a “ 108 Childs Co (2.40). 15 72% 71 T2% T Chrysler Corp (3)... 180 78% 7i% 78% 78% City lce & F (3.60). L 52 b2 52 52 Cit; 0 > 2 Coca-Cola (4) 5 Coca Cola A (3) 2 Collins & Aikman. 6 Colo Fuel & Iron. 5 Columbia G&E (2).. 105 83% 82 83% 831 ColGas&EIpf B(5).. 1 891 89% 8915 88 Couml Graph (29.1c) 146 69% 684 691 69% Columb Carbon 143%. 4 198 196% 199 1991 Com Credit (2).. 50% 50% b1 Com Crd 1st pf(8%). 20s Com Inv Trust (14).. 17 Com Jnv Trst war... 18 Com Solvents (h8).., 1 Comnwealth Pwr 4. Congoleum-Nairn Consol Cigar (7). Consol Cgr pr pf Consol Gas (3) . Consol Gas pf (5 Consol RR Cub pf Consol Textile. . 20s 183 206% 191 éfl 83 ' 167% 166% 166% 2 42 a2 ng Pub Serve (11).. 64 EreRR....... 4435 Burek Vac C1 (4) i - 40% Fairbanks Morse (3) 84s Fasn Pk Asso(k2i4 ). 18% XFod Motor Tr (80c)., TA% 62 20% 1% B 2% 91i5 65t 101 80% Fo: 84% g 107% 99 Ful 35% 20 Gabriel Snub A, 25 10%' Gardner Motor. 3 102 Bl GenAm gk Car(4) 57 94 87% €1 Gen Asphall, 1 61 7% GenCable,.. 2 74 63 GenClgar (4). A 360 219 Gen Electric (16).... 64 363 11% 11 Gen Klec wpec (0¢).. 1 90 70 Gen Gas&KlA (el%) 1 1164 108 Gen G& EIptA (7). 100s 108 899 67% Gen Mills (3) v Motors ( 26 Outd Ad vte ( 2 Public Serv (b 4 Ry Signal (5) 1 117 Refrac (13% 4 y 20 Gor"cu"].“)“' 13 i L (Adolf). 1 47 82 . 53% Gold Dust (23%3)...., 104 73 Goodrich BF (4).... 89 411 Goodrich pf (7)..... 1 112 Goodyear Lice (5)... 29 130 101 Goodyear 1st uf (7)., i 40% Gothwm Silk H (2 4 25 Graham-Paig 36 62% Granby Conso! 11 88 107~ Grand Stocpf (8%). 1 107 20% Grand Union. . ... e 43% Granite City 811 (3).. & 1idls Grant W T (1).. 9 101 Grt North pf (5) 11 100 GrtNorth pfet(5).. & 26% GrtNorOre (alk).. 1 32% Grt WestSux (2.80). 7 4 112% Grt West Sug pf (7). 108 136! Greene Can Cop (8)., 2% Guanimnamo Sugar.. 82% Gulf Mo & North 66% Gulf Sta Steel (4)... 101% Guif St St1 1st pr(7). 33% Hahn Dept Stores. .. 95% tahn Dept S pL(6%) 91 Hanna (M A) 1st(7). % Hartman B (1.20)... 60 Hawallan Pine (2).., 875 Huyes Bdy (b3 %8tk) 100 Helme (G W) (17)... B0 Hershey Choc pf (4). 15 Hooe (R) &Co. . 847 Holland Furn (e234). 37% Houd Hersh B (1%). 60 Mousehd ¥in pf (2).. 70% MHouston O1l... .. b6l Howe Sound (1434) 75% Hudson Mejor (5). 39% Hupp Motor(12) ¥ 132% Illinols Central (7).. 30 Independ Ol & G (2), 29 indian Refining. 28 Indian Refining c 8% Inland Steel (3% 38% Inspiration (s) 22 Interboro Hap T' 8! Jntl Agricultural 149% Intl Business M ( 83 Inti Cement (4). 64% Jntl Comb Eng (2).., 99 Jatl Cmb Eng p£ (7)., 92 Intl Harvester (233). 47% Intl Hydro Elec(A).. 654 Intl Match pf (3.20).. Intl Mer Marin . 36% Intl Mer Marine pf. .. 40% Int! Nickel Can (80¢) 14% Intl Pap & Pwr B 10% Inti Pap & Pwr C. 80 Int! ¥ap & Pwr pL(7) 43% Intl Princ Ink (235).. 78 694 Inter Dept S 152% Johns-Manville (3)., 17 78 Xan City Sou (5) 76 XayserJ & Co (5). 11 Xelly-Spring Tir 40} Kelsey Hayes (2). 12 Kelvinator Corp... 77% Kennecott (5)....... 45% Kimberly Clrk(23) . 27% Kinney (G R) (1). 26% Kolster Radio, 32% K 33% Kreuger & Tol(1.. 75% Kroger Gr&Bak(e1) 34 Kuppenheimer (2) 127% Lambert Co (3) 10 Y.es Rubber & T L 50 106% T. 19 Lenigh Valley Coal.. 3415 Leh ValCoal nf (3).. 50% Lehn & Fink (3). 8114 Lizgett& My (15)... 81% Liggett & My B (15). 42% T.ima l.ocomotive... 71% Liq Carbonie (14%). 4815 Loew'sInc (2)...... 92!5 Loew'sIncpf (634).. T.oew'sptxw (633). 124 Loulsiana Oil. . 89% Touis Ol pf (83). 35% LouG &ElA (1%) 138% Louis & Nash (7) 6615 Ludlum Steel (2) post T P (4).. 59 jon & Rob (2) . 62 55 McKes&Rbpf(3%). 114% 91 Mack Trucks (6).... 217 148 Macy(RH)&Co(ci3). 24 17% Madison Sq G (1%).. 8215 60 Magma Copper (5) 24% Mallinson & Co. 87% 25 Man Elec Supply. 67% 31% Man Elev mod (d5).. $6% Mexican Seaboard. 30% Miami Copoer (4) 85 Michigan St! (234). . 30% Mid-Continent P (2). 8% Middle States Oil. . 2% Middle States Oflct.. #6% Minn Moline Pwr.... Minn Moline pf 634 42% Mo Kan & Texa, 62% Missour] Pacifie » 140% 120 Missouri Pac pf (5). 156% 99 Mont Ward (234).... 8 4 Moon Motor: 6% 3 Mother 60% 12% Motion Pictur: 14% Moto Meter A, 16% Moto Meter A 96% Motor Product 89 Motor Wheel (2).... 50% Munsingwear (13%). 62 Murray Corp (; 81% Nash Motors (6).... 39 28% 40% 35% Natl Air Trans...... 71 46% Natl Bella Hess(31). 218 166% Natl Biscult (1634) 1 96 Natl Cash Reg (14) #2% Natl Dairy ($1%) 87%, Natl Dept Stores. ... Natl Distiller: o il 22% Mxchange Buf (1%). 50s 2 1 10s 20s 3 123% Helme (GW) pf (7)., 408 69% Intl Ry Cn Am p£(5).110s Intl Tel & Teleg (2).. 733 < 894 Kendall Co pf (16%) 10s 1 57% M St P& SSM11(4).140s 110 173 114% 6 5 1 1 0 kil 2 X 13 N 1102 T 10 z 10 1 2 19 29 5 1104 2 e9% 12 1874 Jones & Laugh pf(7) 30s 120 . 1 b4 6 101% 14 968% 16 141 3 4% 2 3% 3 B3% 20 1 11 1134% 112% 118% 1134 15 78 72 1% 73! 4% 1 98% 98% 98% 7L 218 217 217 218% 4 147 14T 14T 148% 5% 59% ° 17% 134% 1. 120 47 Pub Sve NJ (2.60). Pub Sve K&G pf( Pullman Corp (4). Pure Oll (1%). . Radio Corp. . R opf B (5). Radio-Keith-Orph A. 168 Reading (4)......... 2 Reading Jstpf (2)... 2 Reading 2d pf (2). Real Slk Hostery . Real Silk Hos pf(7). Remington-Rand. .., 113 Reo Motors (11.60).. 14 Rep Brass Corp 2 Rep Iron & Stl Reynolds Spring. Reynolds Th B(2 < Richfield Oi1 (2). . Rio Grande Oll (k2). Rosaia Ins (2.20) Royal Bak Pwdr(1 Safeway Stores (3).. St Joseph Lead (13). St1L-San Fran (8)... St I-San Fran pf (§) St L, Southwestern Sava, Schult Seab Sears Roebek (32%) . Seneca Copper...... Sharon Steel H (2) 4 Shattuck ¥ G (2) Shell Unfon (1.40). Shubert Theater (). Stmmonn Co (3) . Simms Pect (1.80) SinclairOfl (12%). Skelly O11 (2) Sloss Sheffleid ateel.. Sloss-ShefMeid of (7 Snider Packing pf. .. Southern Cal Ed (2). » o = P TP PR - PR P TN Union Of1 Calit (2) k3 Union Pacific (10)... 19 247% Utd Aircraft&Trans. 31 131% Utd Afreraft&T pf3. b5 86l Utd Biscuit (1.60)... 43 50% Ph Utd Susiness Pub. 1 35 n ited Cavbon Co... 144 92% Philip Morris (1). ... 13% Utd Cigar Stores(1). 4 15% Phillips Pete (1%).. 12 75% b58% Utd Corporation.... 191 65% Plerce-Arrow A..... b 47% 45 1tdCorppf(3).(... 24 4T Pierce Petroleum.... 2 4% 4% 4% 4w | 8Lm 30 Utd Electric Coal(3) 1 42% Pillsbury Flour (2).. 17 48% 47 48% 46% | 15813 109% Utd Frult (c4)...... 2 1164 PirelliCo A (2.88)... 3 62% 625 62% 63 | 50 AGas&lmp (1).. 151 48k Pittsburgh Conl..... 1 66% 68 664 65 | 94 4 Gas& Imp of(5) 3 931y Pitts Terminal Coal.. 2 241 24% 24% 24 | 56% 27 USCastlrnPip(2). 48 35 Poor & Co (12) 2 28 28 28 28 | 18% 12% U S Distributing. 12 15% PRican AmTo (B).. 2 38z 31% 32 8lu| 64% 62 178 Foreign Secur. 9 6215 Postal Tel & Cpf(7). 1 102% 102% 102% 102% | 188 128 1T SInd Alco (§). 22 185% ¥ U S Leather.. 4 2% US Leather prpf(7) 8 94 i U S Realty (5)...... 18 91% Pressed Steel Car. U S Rubber. . 24 53w Phod & Refinern pt U S Rubber 1st pi 3 80% Prophylactie (14). J 58l Wess Of Wess O Wester, Wilcox Wilson Worthi ton Carbide(2.60). Smelt Ref (3%2). 5 U S Steel (7). . 7 197 U S Steel pt (7) 2 140% U S T3bacco (3)..... 3 83% Tniv Leaf Tob (3)... 2 T4% UtilPwr& Lt A (e2) 17 45 Wabash. . Waldorf Syatm (1%) ‘Walworth (1.20). Ward Baking A Ward Baking B Warner Bros Pic (n) Warn Br P pf(2.20) .. Warner-Quinian (2). Warren Bros (15) . West Penn El pf (6). 10 West Penn EI of (7). i West Penn Pw pf(6) 10s 4 Western Maryland. . Western Pacifle. . Westngh Afr Brk(2). Westngh EI&M (4).. Westngh E 1st pf(4) Weston El Instru. ... Westvaco Chlor ( White Eagle Oil (2 White Motor (1). White Sewing Mach. Willys-Over (cl1.20). 204 Willys-Over pf (7).. Woolworth Co. Wright Aero (2). Wrigley Wm (4). i 121 11 & Snow(2). &Snpf (4).. 308 17 1 100 10 63 708 4 n Union (3) Rich(B)ez... 4 2 & Co pf. 1 ngton Pump LOSSES IN STOCKS: i nd Bales— Stock and Sales— Prev. b £ Divi Rate. Add 00, Il‘h. Low. . Dividend Rate. Add 00. High, low. Close. Close. Norfolk&Wstn(110). 4 2491 249%4 249% 249 | 77 65 Stewart Warnr(3%) 27 75 74% 15 Ta% North Am(b10%ati) 117 145% 144% 144% 145% | 98 731 Studebaker (15)..... 6 79% 79 19 795 North Am pf (3 1 62% B2% B2% B2 681 K7 SunOil (g1) 23 74% 3% T4% 2% —_—— NoGerLloyd (3.41). 10 5%% B8% 53% B3 /| 108% 100 Sun Ol pf (6) 105 100 100 100 100 s > 3 ; Northern Pae (5):...° 7 111% 111 111% 111%| 12 . 7 Superior Oil s« 8 w74 7% Byllish Operations in Raifroad North Pac ot (5 101 100% 1084 10814 100 | I 24 uperior Stesl, i A 1 jymington A, % R 011 Well Supply. 1o19% 19% 19% 19 and Specialty Issues Oliver Farm Equip 18 39 36% 39 36% | 20% 16 Tenn Cop & Ch (1). 8 18% 1R 1R 18 OlivrFrEpevpt(8). 4 B5 B4 55 53 | 584 b7% Texas Corp (3) .15 621 621 62% 62 Mark Close Olivr FrBqof A(6). 10 931 92% 934 91%| BBV 69% Tex GuifBul (4). 27 T4% T4 TA TA% . % Omnibus Corp. 1 8% 8% 8% B8h| 28% 18 TexasP C& Oil ( 5 17% 17% 1% 17 $ Otis Elevator ¢ 1391 891 201 890%| 24% 134 TexasPacLandTr.. 15 16% 16% 16% 16% 208 1243 3124% 124% 124% | 28% 16% Thaicher Mfx 2 24 23% 28% 23% BY STANLEY W. PRENSOIL, L9 a4y | 88 44 ThompsonIR Liass a8 uesan Associated Press Finanelal Editor. eWater Anse 4 o NEW YORK, July 6.—The stock % 20 84 Tide Wat Asso p 2 87% B87% 87% 86l Pt Tt 2 B o 88, S5 5S¢l W0 37k TidewaterON(80). 1 34k B4l B4sk 33%|MATket Encountered rather heavy week Pacific Tel & T (7).. 1508 190 190 190 190 | 3L 22% Timken Det Ax(80c). 7 24% 24% 24% 24%|end profit taking in ioday’s two-hour Packard Motor (15). 62 137% 137% 137% 138 | 110% 734 imken Roller (3)... 62 107% 105% 107% 107%) session, but a vigorous rerumption of Pan-Am Petroleum.. & B5 bl b4l 65 | 224 14 obaccoPr(140)... 18 15 14 14% 15 | pullish’operations in the rails and some Pan-Am PateB...... |26 B68% b57% 574 b8 1744 Tobacco PrA (140). 7 18 17% 18 18 lof the specialties checked the decline Paramount-F-L (3)., 17 65 6% 64% 66 | 15% 14% TobaccoProdcifs... 6 15% 164 15% 15%|and losses Were generally reduced be- 7 18% 17% Tobacco Pr A cf. ] SR T it Transcontinental x 1% 11% Trico Prod (23%). 9 60k 60% Opening Is Lower. Motor Car. ‘The market opened irregulariy lower, Penick & Ford. Underw-El-Fish(4). 118 161% 158 161 with the gain of $227.000,000 in brokers' loans tending 'to swell the normal wvol- ume of week ~nd selling. General Elec- tric slumped 3 points and Radio, Public Service of New Jersey and Missouri Pa- cific sagged from 1 to 174 points, Allied Chemical, however, moved up a fraction 0 a new peak at 334, and American Power & Light sold 13 points higher. ‘While Wall Street was not surprised at the large gain in Federal Reserve brokers’ loans, which was indicated by the record total of Stock Exchange mem- {ber loans announced for the end of June, it appeared 1o have had a sober- ing effect upon speculative sentiment, already somewhat apprehensive over the technical position of the market after its sustained rise. Although traders have generally as- sumed that the Federal Reserve has adopied a hands-off policy. for the time i being at least, the Federal Reserve con- 2% | dition statements disclosed that the | system was again tightening credit by lightening ifs holdings of acceptances and Government securities. Early Losses. | _Auburn Auto and National Biscuif, which had sharp advances yesterd: | fe)l back 5 and 3 points, respectively. 45 Vadsco Sale: 10 10 lynited States Steel vpened with a block Vanadium (14) o3 88% 851 89i 7 6,000 shares off about a point and R e 82 82 | quickly extended its loss 10 115, Amer- N 91 91 lican Water Works, Westinghouse Elec- YEpmintarChemo., ¢ 11 ¥ % | tric and National Cash Register lost Virginia-Car 6% pf.. =1 4l 4% 41% from 2 to to 2'5 points, and Dupont, Vuican Detinning... 20s 85% 85% 85 | gimmons, Anaconda, Columbia Gas, Radio-Keith-Albee, Timken Roller Bear- | ing and Underwood Elliott Fisher sag- | ged 2 point and more. 2% | " Allied chemical, however, extended 31 its gain 1o 2 full point in a few sales {and Granby Copper and Warren Bros. maved up & point. each .| Foreign exchanges opened steady. ‘i with _sterling cables unchanged At | $4.8475. { By the Associated Press. A substantial block of common stock of the S. A. Gerrard Co. has been ac- ‘2| quired by banking interests, which will soon offer it for public subscription. The Gerrard Co. is one of the largest producers of fresh fruits and vegetables, pa~ticularly lettuce and cantaloupes, wich farms in Arizona, California, Colo- rado and New Mexico. The net cash receipts of the National Bellas Hess Co. for June amounted to $3,907,859, compared with $3,325.202 in June of last vear, representing & gain | 02,1752 per cent. 7 The Weirton Stecl Co. of Pittsburgh has acquired the Isabella mine of the | Hecla Coal & Coke Co. Southern Pacific (). 15 139% 138% 1391 138 | 74 61% Yale & Towne (4) 5 c Southern Rwy (3)... 149%4 148% 148% 149 | 511 34% Yellow Truck & C 2 41% ‘The Syracuse Washing Machine Corp. Southern Ry pf(5) 95 95 95 94 711 52K Young Sp&W (123 ). 15 69% 69% of Syracuse, N. Y., reports that it ex- 108% 108 Spang-Chalfant..... 41 40% 40% 41 | 144% 105 Youns Sheet£T (5) 4 14d% 144% Doxtod 'mose mikchines ' the Ot &It 69% 704 | 68% 9% Sparks Withgtn (n).. 661 66 661 6613 RIGHTS _EXPIRE ; i g | months of 1929 than during the whole 48 36% Spencer Kelg(1.60).. 39% 39% 39% 39% | 6% 4% Col Gas&®l 8% 54 B 5% | of last year. Foreign shipments went 43% 18% Stand Com Tob (1).. 17% 17% 17% 17% 9% b% Col Graph 0 46 8a 84 8a 841 principally to Latin-American countric: 135 188 | 38R ot Siana Gas&EL(33) % 34 Spencer Kel.Julv 15 % % 8 %|ang Australis. Nys 1res | Yo% o Stana G & B pf (4). . Dividend rates as given ip the above table are the annuai 2ol 81% 64 Stand Oil Calif (13).. £ash Dasments based on (he latest quarterly er half yearly dsc- | Childs Co’s June sales amounted fo 62% 48 Stand OIINJ (12)... sURIt of trading less than 100 sha; +Pastly extra. fPius | $2,175.354. o< against $2,040,751 in Junc, 45% 38 Stand ONINY (1.60). 4% In stock. {#Plus 33 in preferred stock. fPlus 1-35 in stock | 1928, an increase of 6.6 per cent. 9% 43 Stand Plate Glas 2 Pald this enr—no reguiar Tate. "o Pay ©Plus 55 | s 29% 25% Sterling Sec (A). 5 | Poib 1% in "atock. s Blus % in siotk. b Plus 3% n sieck | Structural steel awards for the week or 130 Steriing Sec pf 11.40. TPlis 8% 3n stock. K PIus 3% in' BLOCK { ending July 2 totaled 42.000 tons, com- Washington Ticker il By the Assecisied Press. recopds few more | b an that which cul- been g I"‘l‘l}r‘m. the Pennsylvania and Santa Moreover, the rs are cold- i)’;‘cflmll on taking regular and | steady loss, running to Jarge dally to-| | tals, for st least & yesr in optntloni | before business fivelov: on which ‘ex- ; | penises can be paid. -1" | In apite of that outiook. snd ‘before | s public plane completes the scheduled | continental jump, so certain are trans- | 38 | port executives of the public demand | | for the fiying journey that negotiations i have already been opened quisition of more and ;l.u T. A. T., | augment the service. 2 o Wasingion. this week son, oper:“m rehearsal flight over the b “?u set the wheels turning 108% 101 705:- ++4 routs i for e e our transcontinental fiying service ” he said, “when ) Ne l;r 'k at p.m. wlt.hmtl)lil: B ot 9100 pan, S8 | mry i kit o, o Tiasy. At 8:45 Am., the Eastboun "t Ot 2 Hmbed. to 8 the Jast notice day, and 3 about 200 ad- . Some es, Ca- 10 ccomfortal of ground temperature of 114 degr: anmuhwmmhmmhnnwm for hours. “Everything is as ritsy as 9% | in our arrangements, from the interior decorations’ of the tri-motored Wasp cabin planes to the landing stations and grounds, because at the inception the appeal is confined rather to people who pay for and demand luxury. When the speed and safety is demonstrated, we dle numbers. it us & 1 L % i i ¥ ; i : £ i % 7 : §E E i i g | i g i i ?;,EE se 3;’ i i : | £ : 7 16 120 120 i g £ i { i i i *? g8 . td il 1 § 8 i g g d1ll: 41!‘: 99% i i trade leaders and officials, some of the recent orders demonstrate that it still sees legal Jimits for allowable combi- nations, Public interest is stil held to | require the maintenance of competi- tive conditions to a degree greater than busines organizations are always willing to concede. ‘Though principles of action in the trade conference fleld are still in formative stage, the commission is find- ing it necessary to repress one trade association tendency, by which persons already in an industry seek to limit the opportunity of new pnte?rtlses 1o enter it. This crops up most frequently and gets official disapproval every time. Of the series of hard and fast for- eign monopolies with government sup- port organized in the last 10 years to treat with the American consumer, the | tiniest and youngest, operating in New | Zealand, seems by a Jate report to have very nearly the best profit record. The New Zealand affair, known as the Kauri Gum Control Board, was or- ganized during the period when the East Indies were seiting up a control over crude rubber, while Brazilian interests dealt with coffee, Cubans with sugar, Mexicans with sisal, A twine lent, and the Franco- German combination with potash, a fertilizer base, The Jauri gum produc- tion goes almost exclusively into Amer- ican ‘manufacture. Lalayan rubber and Cuban sugar ouf- put restrictions have been abandoned entirely and have proven unprofitable, though the Brazilian coffee control still survives. ‘The New Zealand gum combine, too, is continuing, with the government supervising all stages of supply, and at present is seekine permission from the general government to advance before marke! 75 per cent instead of 50 t of the value of all gum turn- ed info it by States, which is the principal buyer, took a little less of the product this yeer than last, 1929, imports for the first four months being 1,340,000 pounds, against 1,790,000 pounds for the same months, last year, but the price was held to practically the same point in both periods. Outside of the United States and the lk’-lfll&!‘ zones of its big cities, pas- vators seem to compara- mrm spectacles, One of the in- dexes to that rarity is the latest month= report, showing that only elevators went abroad in [] the full practically o t for 13, Argentina for 13, and Japan for 9, with the rest scat- tering. For comparison, it can be said 5‘!:01’:& "hu 1 ln&ellie ma. lor ore, concrete an - terials, accounted for 895 installations, conduct codes” set up in conference of‘ collectors. The United | La: vertibles rise record price. Foreign exchanges Cotton lower; liquidation. day. Coffee, holiday. | favorable weather reports. poor cash demand. Cattle Hogs higher. NEW BUILDING. By the Associsted Press. £verage of new contracts let for for the Week Preceding week, $20,454,000. 'k NEW YORK, July Land Bank 4%s Nov. 19! Land Bank Land Bank 4s Nov. (Special) — % 92 an.. 3 J.&J. 19530p: Jan, 19560p34. July’ 1954034, Nov. 19410p31 19410p3; GERMAN BONDS AND Ger Govt Red Loan with drawing. ctfs sttached per 100 ar Hamburg 3s. 3138 Hamburg America; orth German Liovd 414s. and was representative of all quarters | Dresdner of the globe. POTATO MARKET STEADY. CHICAGO, July 6 (#) (United States Department of Agriculture).—Potatoes —Receipts, 28 cars; on track, 159 cars; total United States Shipments, 1,220 a stock, trading rather slow, B e Tel, Irish cobblers, 4.65a6.80. New Stock Issue. NEW YORK, July 6 (#).—An issue of $4,000,000 8 per cent cumulative pre- ferred stock of the Long Island Lighting Co. will soon be offered for lic sub- ‘The electric company narn--u m all sections !m'ms:wm City line. ort Austrian A By Special Leased Wire to The Star. x‘ l énonwu g A tal o i ey 13{:;%2 2, "'0? LR R L bt RONDS. RS Markeis at a Glance NEW YORK, July 8 (#).—Stocks ir- regular; Eastman Kodak sells above 200 for first time. Bonds irregular; cnn-l in dull market. irregular; aluminum soars 30 points to CHICAGO, July 6 (#).—Wheat lower; Corn easy | _New building in territory of the United States east of the Rocky Mountains ' took a forwsrd spurt in the week end- | | Ing June 29. Reports to the Census | Bureau, which follow, show the daily construction in the territory describec and comparable periods. | ling June 29. $23,918,000. | Same week last year, $28,242,000. FEDERAL LAND BANK BONDS. NEW YORK, July 6 (Special).— BALTIMORE STOCK MARKET. ¢ opegiod | pared with 61,000 tons in the preceding | week. i Iron Age reports that the Buffalo Susquehanna Railroad has ordered 0 hopper cars from the Pressed Steel r Co. Cai { The United Carbon Co. has com- | pleted a new carbon black plant at Rock Creek, Tex., and has started construe- tion on two more to be finished in September. The company will then have sn annusl capacitv of 110,000. 000 pounds, compared with 60,525,530 Curb steady; Japanese yen again Tises 10 more points, | N 1928, and an estimated output of Sugar, holi- 97,000,000 in 1920, | Mexican 0il Yield. | NEW YORK, July 6 (#).—Crude oil eld in Mexico for the week ending | June 29, totaled 673,000 barrels, com- pared with 685,000 barrels during the | preceding week, steady Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benest Tife Ins. Ce. 1520 K Street Main 478 bufldins | Money to Loan red b first decd of trust on real estate. Fresuiling interest and commission: as et Wellenrs i Jo s TRUST MONEY On homes, apartment buildings and business properties. No appraisal fee. Prompt service. Asked. 60.00 tiin| |Real Estate Mortgage 42| | & Guaranty Corp. 3; 24 Jackson Place Main 1403 Sales Executive 8333333333383 Liisssusss An old establishad whole- sale distributing house de- sires to connect with sales executive of experience and local follow Man to manage and direct sales of nationally known electric- ally operated houschold re- frigerating units. Permal | nent connection. Lucrative i income. Correspondence confidential. s Address Box 44.D Star Office ali