Evening Star Newspaper, July 15, 1929, Page 10

© THE FINANCIAL. STOCKS IRREGULAR I HEAVY SELLING Market Turns Reactionary as Money Rate Advances. Loan Calling Heavy. ot FINANCIAL. EVENING STAR, MONDAY, JULY 15, TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Stock ana Sales— Dividend Rate. Add 00. High. McKes & Rb pf(3%). 60 Mack Trucks (6).... 98% Madison Sq G (1%) 18% Magma Copper (5). 661 Mallinson & Co. 26 Manati Sugar pf. 43 Mandel Bros (2 25 Man Elec Supply.... 25% Manhat Elev gtd (7). 30s 50 Man Elev mod (d5) 34% Man Shirt (2)..... 284 Marmon Motor (4). 9% Marlin-Rockw (t4) 5% Mathieson Alk (e2) 68% 10 1929. LIABILITIES LOWER N SOUTHERN AREA Business Failures in Second * Quarter Compared With Same 1928 Period. WASHINGTON, D. C. rrov Low Close. Close. 91% 91% 95% 165 16% 14% 204 21% 19% 13% 134 13% 170% 170% 174% | 5% B4 B 49 49% 49% 178 178 180% 265 26% 26% 395, 39% 42% 113 114% 116% 35% 36 3T 36% 35% 35% 40 do0% 40% 1214 121a Prev. Close. Close. 60 60 97 98% 18 18 86 66 25% 25% 43 4o% 2 25 25% 29% 50 68 34 3¢ 28% 28% 8% 80 5% 76 6T 64% —Prev. 1929~ High. Low. 118% 90% 21% 12 24% 16% 221 13% 181 139% 10% 4 53% 41 182 1231 31% 25% T41e 37 8% 7% 3% 184 350 3274 45 10% Prev. . Close. Close. 60% 57 102% 105% 4 3% 1 1% 5727 14% 14% 91% 170 4% 4% 164 93% 93 —Prev. 1929 High, Low. W62 55 114% 91 24 17% 8215 60 39% 50% 31 38% 24 3% 25 87 57% 35% 104 897 643 10845 Stock ana sates— Dividend Rate. _ Add 00. High, Schulte Retall pf(8). 308 Seaboard Air Li 28 Seaboard Air Linepf 8 Seagrave (1.20).... 1 Sears Roebek (32%). 29 Seneca Copper. 6 Sharon Steel H (2 6 Shattuck F G (2) 125 Shell Union (1.40)... 24 Shubert Theater (8). 5 Simmons Co (3)..... 38 imms Pet (1.60) 459 inclairOfl (12%)... 106 Skelly Ol (2). 4“4 —Prev. 1020 High. Low. 60% 42% 85 1% 5% 1% 11 60% 2 135% b8 63 Stock ana sates— Dividend Rate. Add 00. High. Crown Cork & Seal.. 26 60% Crucible Steel (5. 102% Cuba Cane Sugar. 4 Cuba Cane Sugar pf. 11% Cuba Co. 17 Cuban-Amer Suga: 14% Cuban-Am Sug pf. 1% Cuban Dom Sugar. 4% Curtiss Aero (1) 166% Cutler-Ham (33%) 93% Cuyamel Fruit.. 94 Stock ana Dividend Rate. Abitibi Power & Pap Adams Exp pf (5) Adams Millis (2). Advance Rumley. Advance Rumley pf. Ahumada Lead. .. Air Reduction (3)... Alr Wal Bl Ap(2%). Ajax Rubbe Alaska Juneau .« 15 Albany P W Paper.. 2 Alleghany Corp. ....2i23 Alleghany Cpf (5%) 30 Alleg'y pf rets(5%) 00, Hign. Low. Olose. Giose. 3424 42% 42% 42 10 87 86% 87 86% 26 88u 32 38K 314 37% 37 37 3T 57 b7 57 BT% 1% 1% 1% 1% 168% 1644 168'% 167% 43% 42 42 43% 54 B b 5% 5% 6 16 16 17 48% 50 49% 116% 117% 117% 17 117% 117% 332 39 18 10 3 1 26 8 245 42% 334 53 34% Davison Chem . Debenhams (a1l 53% 34% 46% BY EDWARD C. STONE. 117% 100% 333 o o BY STANLEY W. PRENOSIL, Notwithstanding a moderate rise in the number of commercial failures in the South Atlantic section during the second quarter of this year, the liabili- tles were consider- ably below those for the same period of 1928. Thus, ac- cording to R. G. Dun's report, out today, the 583 de- faults in the three months recently ended compare with 573 in the second quarter of last year, whereas the latest indebtedness of $11.100.846 shows a Teduction of more than $1000000 from the $12.467- 637 of the earlier year. Henry H. McKee, Four of the nine States included in this geographical group reported fewer failures for the second quarter of the present year, but the decreases in Maryland, Delaware, West Virginia and Florida were some- what more tifan offset by increases in the District of Columbia, Virginia, North Carolina, South Carolina and Georgia. The distinguishing features of the nu- merical exhibit were a rise of 50 de- faults in North Carolina and a decrease of 55 in Florida. The latter State had lighilities smaller by fully $2.100,000 than in the second quarter of 1928, but the amount for North Carolina was larger by more than $1,600,000. West. Virginia made a favorable show- ing, with a contraction of $1,200,000. Number-— Liabilities 1927 ' 1929 Section. 31,521,649 69.379 Maryland Delaware . Dist. of Columbi Virginia West Vir North Carolina . South Carolina. . Georgia Florida 8o Atlantic. . 669 311.100.848 978, o+ 121467637 Reserve Policy Held Unchanged. The Federal Reserve banks have not adopted a policy aimed to ease condi- tions in the call money market. nor is there any indication such a policy will be adopted soon. On the other hand, says the Wall Street Journal, it is evi- dent the drastic policies adopted in early February have been dropped and in their place a waiting and hands-off policy has been used for the past sev- eral weeks. | This more passive attitude may be attributed to three factors: First, a be- lief on the part of several members of the Federal Reserve Board that the ag- gressive policies of early in the year have been successful; second, actual physical limitations against a drastic open market policy because of the smail holdings of Government securities and bankers' acceptances by the Reserve banks, and, third, fears of the effects of a continued stiff money policy on busi- ness and more particularly on agricul- ture. Since June 19 the 12 Reserve banks eombined have reduced their holdings of Government securities and bankers’ acceptances by only $24,370,000, bring- ing the total down to the extraordi- narily low figure of $202,120,000 as of July 10. While this reduction is size- able, considering it covers the period of midyear money requirements, it is small compared with reductions made earlier this year. McKee Heads Taxation Committee. According to the recent announce- ment of President W. J. Waller of the District Bankers' Association, Henry H. McKee, president of the National Capi- tal Bank, will again act as chairman of the taxation committee. The work of this committee, though not consid- ered spectacular, is held highly im- portant to the association members, re- quiring a large amount of diplomacy and a thorough knowledge of all phases of | banking. That is just what Mr. McKee has in lavish quantities. The committee chairman was one of the outstanding speakers at the last annual convention at Montauk Point and has done a great deal of work in the past for the benefit of the asso- clation. All the members of the various stand- ing committees will be announced soon 80 that the association’s interests will not be neglected during the Summer, Heard in Financial District. Francls G. Addison, ir. vice presi-| dent of the Security Savings & Com- | mercial Bank, spent the week end at Point Lookout, Md. ‘Eugene E. Thompson, head of Crane, Parris & Co., returned to his home from Garfield Saturday and is report- ing as steadily improving. Walter 8. Penfield, international lawyer and director of the Washington Loan & Trust Co.. sailed last week for an extended trip to the North Cape via Norway and Sweden. H2 will be away until September. Western Union Telegraph first half 1929 earnings estimated at $7.33 a share on 1,023.781 shares, against $7.32 a share on 997,877 shares in like 1928 period. American Telephone & ‘Telegraph earned $6.15 a share in first half 1929 on 13,028,807 average number of shares outstanding, against $6.17 a share on 11,117,545 shares in like 1928 period. Commercial Credit Co. of Baltimore announce the renewal of an exclusive contract with the Kolster Radio Cor- poration providing for the financing of retail time-payment sales of Kolster and Brandes radio receivers, through- out the United States. This firm main- tains a Washington office and a good deal of the stock is held here. Bpecial Dispatch to The Star. {NEW HAVEN, Conn. July 15.—The rchasing power of farm products rose ast week by 1 per cent, making a new high record for this year. accompanied by a rise in the level of agricultural prices of three-fifths of 1 per cent. These are the highest points since Oc- tober, 1928, | Prices of mnon-agricultural products fell last week by three-fifths of 1 per cént. The mean variation in this index of industrial goods has been slightly dbwnward during the year, but with continued increments in the volume of trade and production it has meant cheapened unit costs of producing goods rather than any cessation in consumer purchasing power. | Index numbers of agricultural and non-agricultural prices for varlous periods are given in the following table with the index of farm purchasing power, which is their quotient. For each the average for 1926 represents 100: Agricul- Non- cultural prices. Week ended— July 12 , Gopyrisht, 1929, Orders 1,000 Box Cars. INEW YORK, July 15 UP.—fhe Peno - nia Reilroad hes ordered 1,000 7 hox cars from th Central R " = 346% 280 1% 42% 23% 148 653 3% 62 34% 1081y 103 42 85% Ably 96 76% 874 129 188% 813 17% 149% 84% 103 53% 64% 135‘- 102% 1243% 138 206 85 94% 111 60 327% 24T% 186'% 188 155 112 146 27% 58% 491 140 86 125 133 127% 110% 81t 110% 33% 97 49% 106% 136% 91 1% 100% 143% 109% 631 2% 120 737 145 817, 227 47 55l 127 42% 50 85 5315 891 110% 118% 41 192% 138 81% 3 135 617% 983, 2657 23344 4815 384 130 42% T9% 48% 521 349 20% 82 160 28% 262 110% 19% 25% 108 2% 119 148Y% 2% 125 914 8915 108 % 2051 625 105% 26% 28 195 62% 457 246 93 3o% 92% 96% 96 30% 144 100% T0% 6% 28% 367% 1084% 240 166 5 22% 10% 110 60 4015 a5 15% 49% 107% 92 70% 46% 4313 23% 823 5% 104 £8 24% 64 38 89% 521s 41 1025 147% 50 4 814 79 98% 40 43% 1064 3% 811y 9313 130 104% 35% 17 193% 160 160% 1365 107% 67% 16% 3914 114% 115% 1234 104 6414 105 26 86 3814 9813 20 73 11 81 8 T5% 821a 116% 42 110% 8% 6 834 107 85 30% 37% 114% 425 106 60% 170 38 384 96 254 38% 54% 46 54% 102% 110 28 122% 104% 2% 1% 124 36% 78 218 228 36 308 120 22% 52 30 40 305 11 70 88% 16% 195 78% i Chi Great Western 103 120% 48 93 56 101 53% 86 103 55% 121% 43 5% 24 25 131% 27% 225% 107% 59% 19% 69 T5% 84 25 96% 96'% 51 2% 12 Allied Ch & Dye (6) Allis-Chalm Mf (7). Am: o Amerada Corp (2) Am Agricul Chem, Am Bank Note (13). Am Bank Note pf (3 ‘Am Bosch Magneto. . Am Brake Shoe 2.4 ‘Am Brown Bov Elec. Am Brown B E pf(7) Am Can (14).. . 467 Am Car & Fdy (6)... 47 Am Chain pf (7).... 3 Am Chicle (2). e Am Com Alc (k1.60). 14 Am Encaust Til (2).. 3 Am European Sec... 10 Am & For Power. ... 1225 Am & For Pw pf (7). 1 Am & For Pw 2d pf.. 35 Am Hawatian (1)... 28 Am Home Prd (3.60) 2 Am Ice (13). . 3 Am Ice pf (6) o ‘Am Internat (32)... 363 Am La F & Foamite. 6 ‘Am Locomotive (8).. 80 Am Mch & Fdy (4).. 6 Am Metal (3) . Am Piano. . Am Pow & Lt (11)... Am P&L pf A st (5). Am Pow & Lt pf (6). ‘Am Rad&Std S(1%). Am Republics. ...... Am Roll Mill (c2)... 95 Am Ship & Com..... 2 ‘Am Shipbuilding (8) Am Sm & Ref (4). Am Sm & Ref pt (7). Am Snuff (12)... Am Steel Fdy (3). Am Stores (2).. Am Suvgar Rfg (5) ‘Am Sugar Rfg pt(7). Am Sumatra (3).. Am Tel & Ca (5). Am Tel & Tel (9). ‘Am Tobacco (8). ‘Am Tobacco B (8) Am Type Fdry (8) Am Type Fdry pf(7). 108 ‘Am Water Wks (c1). 35 Am Woolen 2 ‘Am Woolen pf. . ‘Am Zinc Ld&Sm ‘Anaconda Copr (7). Anaconda W&C (3). Andes Copper (3)... Archer-Dau-M (2) Armour Del pf (7) Armour 111 (A) ‘Armour 111 (B) ‘Arnold Constable. Asso Appl Ind (4) Asso Dry G (2%). 12 Atch T & S Fe (10).. 92 Atch T&SF pf (5)... 1 Atl Coast Line (110). 38 Atl G & W Inales.... 3 Atl Refining (11%).. 350 Atlas Powder (4) Atlas Tack. .. Auburn Auto (j4)... Austrian Cred (4.49), Autosales 7 2 41 1 1 253 4 208 Baldwin Loco pf (7).100s Balto & Ohio (6).... 367 Balto & Ohio full pd. Bamberger pt (632). 1 Bang & Aroos (3%). 25 Bang & Aroos pf (7). 308 Barker Bros (2)..... 408 Barker Bros pf(6%). 108 Barnsdall (12%).... 109 Bayuk Cgr 1st pf(7). 208 Beacon Oll. 30 Beech-Nut Pac . Belding-Heminway. . Belg N Ry pt uf (16). Bendix Aviation (2). Best & C0 (3)....... Bethlehem Steel (4). Bethlehem St pf (7). Bloomingdale Bros. . Bohn Alum&Br(t4). Bon Ami A (15) Booth Fisherie Borden Co (3). Borg Warner (§4). Boston & Maine Briges Mfx Briggs&Stratton ( Bristol Myers(14%). Brockway M T (3) Brockway pf (7) Bklyn-Manhat (4) Bklyn Unlon Gas (5) Brown Shoe (23%)... Bruns-Balk-Col(3).. Burns Bros A (8). Bueyrus Erfe (1).... Bueyruscv pt (2%). Buff & Susque. ... Bullard Co (1.60). Bush Term (g2).. Bush Term deb (7) Bush T BIdg pf (7). atterick Co. Byers (A M). By-Prod Coke (13) Calif Packing (4). Callahan Zinc & L. .. Calumet & Ariz (10) Calumet & Hecla (4). Canada Dry G A (5). Canadian Pac (10) Canadian Pac 1st pd. Cannon Mills (2.80). se (J 1) ctfs (6)... Case Th Mch pf (7).. Cavanagh-Dobbs Celotex (3 . Cent Aguirre (2) Cent Alloy Steel (2). Cent RR of NJ (112). Century Rib Mills. .. Cent Rib Mills pf (7) Cerro de Pasco (6).. Certain-teed Prod... Ches & Ohio (10).... Chesapeake Corp (3) Chi & Alton . Chi & Alton pf.... Chi & East 111 pf. 3 2 2 3 17 11 6 108 12 2 126 24 3 6 39 41 335 Chi Great Westn pf.. Chi Mil St P&Pac. Chi Mil St P&Pac pt. 847 Chi&NW (4)...... 269 Chi Pneu Tool . 1 Chi Pneu T pf (3%) 6 Chi RI&Fac (7). 38 ChiR1&Pacpf(6). 1 Chickasha COIl (3).. 4 Childs Co (2.40)..... 17 Chrysler Corp (3)... 86 City Ice & F (3.60).. 8 City Ice & F pt(6%). 208 City Stores (1) 5 CCC&StL (8).. CCC&StLpt (5).. Cluett Peabody (5).. Cluett-Peabdy pf(7). Coca-Cola (4). Collins & Afkman. .. Collins & Aik pf (7) Colo Fuel & lron. ... Colo & South (3).... Columbia G&E (2).. Col Gas&El pf B(5) Colum G&E pf A (6). Couml Graph (29.1¢c) Columb Carbon t4%. 18 Com Credit (2) 86 Com Crd 1st pf(63%). 2 Com Credit pf (1%).110s Com Credit pf B (2).2008 Com Inv Trust (t4).. 176 Com Inv Trstwar... 5 Com Solvents (h8).. 28 Comnwealth Pwr t4. 1 Conde Nast Pub (2). 4 Congoleus irn... 95 Cong Cigars (t5%).. 8 Consol Cigar (7) 1 Consol Cgr pr pf 6% . 108 Consol Film In pf(2) 2 Consol Gas (3). 8256 Consol Gas pf (5 12 Consol RR Cub pf(§) 1 Consol Textile. 11 Container Corp A.... 3 Contatner Corp B. 3 Contl Baking A. 16 Contl Bakin 107 Contl Baking pt 1 Contl Can (2% ) 220 Contl [nsurance (2). 389 Cont] Motors (80c).. 58 Conti Ofl of Del..... ' 36 40s 5 108 8 28 2 18 13 165 5 4 247 C AR oo nanas Corn Prod (13%).... 76 29% 86t 123 65 20% 55'3 4T3 25878 101 20874 60%, 69'% 105% 167 375 308 249% 3 238 36 5 373 1120 2215 8% 33 48% 11% 69% 95% 26 50 275 914 % M 61 18% 457 39% 63 96'% 38% 53% 142 99% 37 1% 2% 68% 100 20% 1 275 103 56% 104 1464% 52 93 64% 1267 89% 90 106% 66% 204 49% 96 25 26 166 54'%A 459% 226% T3% 24% 70 6% 85 26 145% 98 60 2% 15 6% 86% 14% 97 81% 9% 14% 84 107% 268 6 31% 12 1444 5915 56 555 30 81 164 101 81% 65 46% 31 84 120% 340 1 276% 6 82% 12% 146% 60 56 57 30% 82. 167 100% 811 65% 474 31 85 119% 105% 91% 39% 2% 18274 18244 148% 108 135 1% 40 1 1 122% 38% 157% 65 112% 28% 43 102% 68 105% 108% 56% 118% 84% 1% T4% 1% 18 100% 48% 158% 1: 108% 104% 113% 43 16 82 20% Deere & Co pf (7). Delaware & Hud (9). Del Lack & W (7)., Denv®&RG Wpf.... Devoe & Ray A (13), Diamond Match (8) Dome Mines (1) Dominion Strs (1 Drug Corpn (4). Duplan Silk (1)..... Du Pont de N(t4%). Dugquesne 1st pf (5) . 1008 119 222 47 140% 21 75 1 4T% 108 136 2 10 11 a7 29 112% 3 78 188% 4 98l 86 L Fastman Kod (18).. i Eastman Kod pf (6). Eaton Axle & S (3).. Eitingon-Sch (2%). Eitingon pf (6%)... c Auto Lite (6). ctric BOAt. ...... ElI Pwr & Lt (1). ElPwr& Ltpf (7)., Elec Stor Bat (5), dicott-John (5). Eng Pub Serve (11), Eng Pub Sve pf (5) .. Eng Pub Sve pf(534) Squitable BIAR (2% ) . Erie R R. cessesn Erle RR 1st pf (4).. Evans Auto L(12%). -F- Fairbanks Morse (3) Fairbanks M pf (7).. Fash Pk Asso(k2%). ed Lt & Tre (11%3). Fed Lt & Tr of (6).. Fed Mining & Smit. . Fed Motor Tr (80¢c) .. Fid Phen F Ins (2).. Fifth Ave Bus (64c). Filene's pt (615). First Nat Stores 13, 47 201% 908 125% 14 63 28Y% 94k 172% 124 7914 1064 88Y3 697 617% 98 9815 39 8314 64in 59% 449 9 2 2 43 108 107 5 65% 2 97 208 100% 2 2 2 5 508 . 308 49 Fisk Rubber 1st pf. . 120s Fisk Rub 1st pf cv.. 2008 Fleischmann (13%). Florsheim Shoe pf 6. Follansbes (12%) Foundation Co. Fox Film A (4). Freeport-Texas (4) Gabriel Snub A Gamewell Co (5).. Gardner Motor. Gen Am Tnk Car($4) Gen Asphalt. . ¢ Gen Asphalt pf (5),. Gen Bronze (2). Gen Cable A (4) Gen Cigar (4). Gen Gas&FEl A (el Gen G & EIpf A ( GenG & EIpf A (8), Gen Electric (16)... Gen Elec spec (60c). Gen Mills pf (6)..... Gen Motors (13.20). Gen Motors pf (7) Gen Outd Ad vte (2). Gen Public Serv(bé) Gen Ry Signal (5) Gen Refrac (13%). . Gillette Safety R (5) Gimbel Brothers. Glidden Co (t1%) Gobel (Adolf). Gold Dust (214) Goodrich BF (4).. Goodyear Tire (5) Graham-Paige...... Granby Consol (7).. Grand Union Grand Union pf ranite City Stl (3) Grant WT (1)... Grt North pf (5). Grt North pf ct (5). Grt Nor Ore (a1%). Grt West Sug (2.80). Grt West Sug pf (7). Greene Can Cop (8). Guantanamo Sugar. Gulf Mo & North. Gulf Mo & N pf (6). Guif Sta Steel (4)... H. Hacken pf A (1%)... Hahn Dept Store: . Hahn Dept S pf(6%) Hamilton W pf (6).. 276 1 122 83 28 2 menSe3Rwnm 34 10 208 9 3 36 2 9315 8 68 908 30 2 10s Harbison Walk (2)..500s Hartman B (1.20)... Hav El Rwy pf (6).. Hayes Bdy (b8 %stk) Hershey Chocolate. . Hershey Choe pf (4).. Hocking Val (10). Hoo (R) & Co. .. Holland Furn (e213). Hollander & Son. ... Homestake Min (17). Houd Hersh B (1%). Household Prd (t4). Househd Fin pf (3).. Houston Oil. ....... Howe Sound (1434).. Hudson & Man (2%). Hudson Motor (5) o 508 31 16 . 3108 16 19 1 35 12 2! 7 13 13 4 Hupp Motor (£2).... 1- 19 Illinots Central (7).. Independ O1l & G (2) Indian Refining..... Indian Refining ct. . Ingersol Rand (5% ). Inland Steel (3%) Inspiration (4).... Interboro Rap Tran. Intercontinental Rub Intl Agricultural.... Intl Business M (5). Intl Cement (4)..... Intl Comb Eng (2). Intl Harvester (234). Intl Harv pf (7)..... Int Hydro E1 A (e2). Intl Match pf (3.20). Intl Mer Marin Int Mer Marine etfs Intl Mer Marine pf. . Intl Nickel Can (80c) Intl Paper pf (7). Intl Pap & P A(2.4 Intl Pap & Pwr B.. Intl Pap & Pwr C. Intl Pap & Pwr pf(7) Intl Ry Cn Am pf(5). Intl Print Ink (23%4).. Inter Dept St (2).... Int] Tel & Teleg (2) Intertype (f1%) -J- Johns-Manville (3).. Jones & Laugh pf(7) Jordan Motor Car.... K- Kan City Sou (5). Kan City Sou pt (4) Kayser J & Co (5) Keith-Albee-O pt (1) Kelly-Spring Tire. Kelsey Hayes (2 Kelvinator Corp. Kendall Co pf (16%) <ennecott (5). Kimberly Clrk(2%) Kinney (G R) (1)... Kinney (G R) pf (8). Kolster Radlo. Kraft PhCh (1 Kresge Dept S pf.... Kress SH (1). oo 4 Kreuger & Tol(1.34). Kroger Gr&Bak(cl). Lago Oil & Tran: Lambert Co (8. Leh Port Cem (23%). Leh Port Cm pf(7). Lehigh Valley Coal Leh Val Coal pf 13). Lehigh Valley (3%). Lehn & Fink (3). Liggett & My (15). Liggett & My B (15). Lima Locomotive. Tiq Carbonic (143%). Loew’s Inc (2).... Lott Inc. Loose-Wii Lorlllard (P) Co. Louisiana O11 Loulis Oll pf (6%) . LouG&EIA (1%) Louts & Nash (7) Ludlum Steel (3) 73% MeCall Corp (4) 97% MeCrory A (2).... 36% 38% 66% 36 36 55 32 50% 884 315 19% 16 14% 85 308 TT% 1 52 4 65 385 112% 9 38 39 190% 50s 119% 7 ™% 210 101% 2 65 1 54 4 117% 47 15 12 45% 40 16% 60s 91 350 85 13 521 8 42 208 100 En 497k 507% 161 2% 90 40% 88% 308 o 658 33 153 51% 109% 23 40% 96% 517k 914 20 B5% 997% 581y 10% 4% 12% 92 48 32 152 61 1 96% 30s 101 * 44 83% 51 41y 100 3414 49 50 16 2% 90 384 7% 33% 150% 50 109 20% 39% 95 b1 91y 20 5% 98 57% 9% 67 24% 12 92 47 148% 10 a4 119 221% 138% ki 4% 136 38% 87% 34 151 507 109% 22% 40% 96% 51 9y 90 55% 9814 579 10 6914 24's 12 92 47 152 104 99% 100% 96% 9941 101 1013% | & a4 A May Dept Strs (4). Maytag Co (12). Maytag Co pf (3)...., Melville Shoe (1.40), 1 Mengel Co..... 21 4 Mexican Seaboard. 39 Miami Copper (4) 49 Michizan Sti (234310 23 Mid-Continent P (2). 19 Middle States Oil. 5 21, Middle States Oflct. 6 Midland Stl pf +10%. 60 % Minn Moline Pwr... 14 Minn Moline pf 6% 2 Minn & St Louls. . b5 MStP&SSM. 11 MStP&SSM11(4). 808 Mo Kan & Texas. ... 1258 Mo Kan & Tex pf(7). 14 Missour! Pacific..... 173 Missouri P'ac pf (5).. 66 Mohawk Carpet t2%. 8 Mont Ward (2%).... 244 Moon Motors. Morrell J (3.60) Mot 142 25 17 45% 1 72 347 693, Moto Meter A . Motor Products Motor Wheel (2).. Mullins Mfg..... Munsingwear (t315) Murray Corp (a3)... —_— Nash Motors (6).... 58 Nash Chat & St L(7). 508 Nat Acme (11%4) 2 Natl Air Trans. Natl Bella Hess(11) Natl Biscuit (163%).. Natl Cash Reg (14) Natl Dairy (11%). Natl Dept Stores. Natl Distillers. NatlEnameling (2) Natl Lead (5)..... 4 Natl Lead pf A (7). Natl Pwr & Lt (1). Natl Radiator Natl Radiator pf. Natl Rys Mex 2d pt.. Natl Supply (18). Natl Surety (5) Natl Tea (1%).... Nevada Copper (3) Newton Steel (3). ¥ Y Afr Brake (3). N Y Central (8)... NYChi&StL(6).. N Y Chi & St L pf(6) 65 H & Hpt (7). ' Ont & W N Y State Rys pf. N Y Steam 1st p! Norfolk § Norfolk&Wstn(110). Norfolk&Wstn pf(4) North Am(b10% stk) North Am pt (3). No Ger Llovd (3 Northern I'ac (5) North Pac ct (3). Ofl Well Supply Oil Well Sup pf (7) Oliver Farm Equip. Olivr Fr Epcv pt(3). Olive FrEqpf A(6). 19 4 Oppenheim Col (5) 1 Orpheum Cir pf(8).. 85s Otis Steel....... . 82 Owens 11l Glass (4). 12 r- Pacific Gas & E (2).. Pacific Lighting (3). 52 Pacific Oil stubs 13 Pacific Tel & T (7).. 5 Packard Motor (15). Pan-Am Petroleum.. 12 ran-Am Pete B..... 263 Pan-Am West B.....100s I'anhandleP& R.... 10 Paramount-F-L (3).. 119 Park Utah (80c)..... 41 Pathe Exchange.... 8 Pathe Exchange A. 2 Patino Mines (3.89).. 97 Peerless Motor Car. Penick & Ford. .. 1 Penn Dixie Cement. . Yenn Dixie Cm pf(7) Pennsylvania RR(4) 988 Peoria & Eastern. 49 Pere Marquette (18). 18 Pet Milk (1%). Phelps Dodge (3) Phila & Read C & Phila Rap Tran (4) Phillips-Jones (3). 4 Philip Morris (1) Phillips Pete (1%) Pierce-Arrow A Pierce Oil. Plerce Petr Pilisbury Flour (2).. Pirelli Co A (288)... Pitts & W Va (6). Pittsburgh Coal. Pitts Steel pf (7). Pitts Terminal Coal.. Poor & Co (12).. P Rican Am To (A)T P Rican Am To (B) Postum Co (3). Prairie Oil & Gas. Prairie Pipe L (14) Pressed Steel Car. Prod & Retiners. Prophylactic (14). Pub Sve NJ (2.60). Pullman Corp (4).... Punta Alezre Sugar. Pure Oil (1%). Purity Bakeries (3).. 24 10 19 Radio Corp.... 494 Radio pf A (3% Radio pf B (5). 8 Radio-Keith-Orph A. 36 Reading (4).....ec0 268 Reading 2d pf (2)... 4 Real Silk Hoslery. Reis (R) & Co.. Remington-Rand Reo Motors (11.60. Rep Brass A (4). Rep Iron & Stl (4). Rep Ir & St pt (7). Reynolds Spring. Reynolds Tb B(2.40). Richfield O] (2)..... Rio Grande Oil (k2). Ritter Dental (2%) Rosaia Ins (2.20) Royal Bak Pwdr(1).. 77 Royal Dutchul.xast) 27 Safeway Stores (3).. St Joseph Lead (13). St L-San Fran (8). St L-San Fran pf (6) St L Southwestern Savage Arms (2).... Schulte Retail Strs, 36 10 12 17 4 25 55% 195% 94 131 9614 115% 51% 41 109% 92% 82 38% 16% 88% BT 23% 23% 397 397 68 67 2T% 2T% 46 a1 1207 3315 33 34 124 53% 10 124 138 93 6415 45 136 68% 15% 142 158% Submi Sun Of Snider Packing. Snider Packing pf. So Porto R Sug 12%. So Port Rlc S pf (8), Southern Cal Ed (2). Southern Dairies B. . Southern Pacific (6. Southern Rwy (8)... Southern Ry pf(5) Spang-Chalfant. ..., Sparks Withgtn (n). Spencer Kelg(1.60).. Spicer Mfg....... Spiegel-May-St (3).. Stand Com Tob (1).. Stand Gas & El (3%) Stand G& Epf (4).. Stand OIl Calif (13). Stand O N J (12)... Stand O N Y (1.60). Stand Plate Glass. Sterling Sec (A). . Sterling Sec pf 11.20. Stewart Warnr(315) Studebaker (15) ine Boa (x1) Superior Oil Superior Steel. 2 Sweets of Amer (1).. Symington. ... Symington A.. Telautograph (1). Tenn Cop & Ch (1) Texas Corp (3).. Tex Gulf Sul (4). Texas & Pac (5)..... Texas P C & Oil (bé) 4 Texas Pac Land Tr.. Thatcher Mfg. . Thate er pf (3.60) The Fair (2.40)... T'hompson J R (3.60) 715 Tide Water Asso. ... Tide Wat Asso pf(6) Tide Water Ofl(80c). Timken Det Ax(80¢). Timken Roller (3). Tobacco Pr (1.40)... Tobacco Pr A (1.40). Tob Prod ctfs A 1.40. Tob Prod ctfs(1.40). Transcontinental Transue & W (1) Trico Prod (2% ) Truax Traer (1.60) Underw-El-Fish(4) . Union Carbide(2.60). United Carbon. 62 27 20 10 85 3 18 L A8 U 176 82 3 Union Oil Caht Union Pacific (10). Union Pacific pf (4). Utd Aircraft&Trans. Utd Afreraft&T pf 3. Utd Biscult (1.60)... Utd Cigar Stores(1). Utd Cgr Store ctf; Utd Corporation. Utd Corp pf (3) Utd Dyewood Utd Electric Coal (3) Utd Fruit (e4). aacccac s s s U S s S Foref ! S FornSec pf (7) S Ind Alco (6). S Leather. . Realty (5). Rubbe! Rubber 1st pf. Smelt Ref (3% S Steel (7). Steel pf (7) S Tobacco (3). Iniv Leaf Tob (3). ‘niv Pict 15t pf(8) niv Pipe & Rad. . Utd Gas & Imp (1) S Cast Ir Pipe ctfs. n Secur. .. Util Pwr & LUA (e2 Vadsco Sales. . Vanadium (14).. Van Raalte. . Virginia-Car Chem Virginia- Va Kl & Pwr pf (7) Vulcan Detinning. 1% r6%Ppf.. 3 43 . 108 107 2008 100 Wabash..... Wabash pf A Wabash pf B.. Waldorf Systm (1%) 29 Walworth (1.20). 2 3 Ward Baking A Ward Baking B 2 Warner Bros Pie (n) 170 Warn Br P pf(2.20). Warner-Quinian (2). Warren Bros (15)... Warren Fdry & Pipe Wess Oil & Snow (2). Wess O & Snpf (4).. Westvaco Chlor (2). 27 10 6 7 9 8 2 18 West Penn E1A (7). 1908 W st Penn El pf (6). 40s 55% 37% 124% 65% 10 4 1421 155 95 39 West Penn El pf (7).1108 West Penn Pw pf(6) 508 West Penn Pw pf (7)120s 2 169% 32 64% 102 133 12 95% 83 102% 1 39% 47T 24% b4 % 3T 119 47 8 1 42% 21% 100 110 112% T'a 56'% 407 28% 69 71 36% 54 Mont 10:30 A.M. . 1:30 P.M. 169% 63 130% 94% 987 397 24% iaration. T Stock d Payable {Plus 10% in siock. JPlus 8% In stock Westn Dairy (B).... Western Maryland Western Md2d pf... 7 Western Pacific. ... Western Pacif pf. ... Western Union (8) Westngh Air Brk(2). Westngh EI&M (4).. Westngh E 1st pf(4) 10a White Eagle Oil (2). White Motor (1). White Rock M S (3). White Sewing Mach. Wilcox Oil & Gas. Wilcox Rich(B)e2. .. Willys-Over (¢1.20). Willys-Over pf (7) Wilson & Co... Wilson & Co A. Wilson & Co pf. Woolworth Co. Worthington Pump. . ‘Worthington A . Worthington B. Wright Aero (2 Wrigley Wm (4 5% Utd Corp... Sales of Stocks on New York Exchange. + 2,038,500 . 3,392,900 the annual + 2.996.200 Dividend rates as given in the above table a cash payments based on (he latest quarterly or hslf yearly dec- 100 shares. ¢Partly extra. fPlus jus 1-35 in stock © Plus 5% in cash or stock. in stock: ding_le sUnit of trading less 6 278 52 43 318 90 53 8 ). ). Y- i Yale & Towne (4). Yellow Truck & C. Young Sp&W (12%). Young Sheet & T (5) RIGHTS EXPIRE 4 Col Gas&El. 17 700 3 151% ~Aug 15 610 6% ard..Aug 26 249 18% Aug 15 326 6 653,000 12:00 Noon. 10 P.M. 58 tha: ular T n earned. e Pavabl us 6% in stock. s 3% in stock. d stock. 1§ Iar Tate b Fagasie {n stock. 134 ki 81 3815 70 150% 6 18% 5% b Plus 3% 56% 7% 126 65% 10 143 157 95% 40 65 395 54 85% 19% 133 64% 2% 56% 38% 4on 381 70 1511 64 18% 5% 567 37% 124% 67% 10 142 153 94 40 66% 40 54% 851y 18 133% | i 80k | 387 | 151 64 18% | 6 SWISS FAIR RECORDS ARE BROKEN THIS YEAR This year's Swiss fair, which was held from April 13 to 23, broke all records in every respect, according to the report issued by the management of the fair. Orders were placed by nearly 60,000 buyers from all parts of the world. The number of v‘;‘;"on ‘was much greater in previous years. t'hlfipechgu,' large orders were placed for products of the electrical industry. The watch industry also recorded very fav- orable results. A strong demand was noticeable in machinery of all kinds. ‘The same applies to textile—especially silks, knitted goods, tie materials, rugs, felt ‘“rtl::ér:?'i A mg:‘eg” lcuvlg”w: T n s , s - \.n,:?a ::d hnrm-cel‘::lcll products, col- ors, varnishes, technical appliances, jew- elry, construction material, store fix- t s, ete. et sl TREASURY CERTIFICATES. (Reported by J. & W. Selisman & Co.) Rate—Maturity. oft. Will Acquire Theater Chain. NEW YORK, July 15 (P).—Para- mount-Famous Lasky Corporation an- nounced today that it had arranged to jre as July 1, through an ex- chn:nz“ot stock, l’he Northwest Thea- ters Corporation of Minneapolis, oper- ating_a chain known as the Reuben and Pinkelstein circuit, in Minnesota, North and South Dakota and Wisconsin. | Ch CHICAGO DAIRY MARKET. CHICAGO, July 15 (#).—Butter— SHORT-TERM SECURITIES. | of | proved | Tonger, " were | Lambert and International | Commerce | Aeronautics, has been elected president Associated Press Financial Editor, NEW YORK, July 15—The stock market, which has been pointing up- ward for several weeks, turned reac- tionary today when call money was advanced today 9 to 12 per cent, and threatened to go higher. = Selling pres- sure was directed chiefly against the motor, copper, steel and public utility shares, although soft spots also develop~ ed in most of the other leading groups. Rails, which indulged in a sharp dis- play of strength on Saturday, offered the best resistance to selling pressure, with at least a dozen issues pushed into new high ground. Heavy calling of loans, necessitated by the semi-weekly readjustment of banks’ positions at the Federal Reserve Bank, coupled with the heavy mid- month disbursements, accounted for the stringency in call money. Continued bidding up of the rails in the late trading steadied the entire market and_a number of shares such as United States Steel and Chrysler, : which had sold off earlier, rallied. Nor- folk & Western sold up 10 points and New York Central, which was under presure during the morning, recorded an extreme gain of more than 6 points. | Union Pacific made a similar gain. In- ternational Business Machines jumped 12 points to a record price. The close was irregular. A brisk demand for the railroads featured the opening. Initial gains a point or two were recorded by Kansas City Southern, Canadian Pa- cific, St. Louis, San Francisco and Fennsylvania, the last-named crossing 95 to a new high record. U. S. Steel common and Montgomery Ward im- fractionally, but Columbia Graphophone and American Smelting turned heavy. Speculative attention in the early trading centered in the railroad shares, with buying influenced by the excellent character of the current earnings and traffic reports and rumors of important merger developments in the near fu- ture. New high records for the year,or established in the early trading by Erie common, Great North- ern preferred, Northern Pacific, Read- ing, Southern Pacific and Colorado & Southern. “Katy” opened with a block of 12,000 shares at 6275. With money likely o remain com- paratively tight for a few days, bullish activities in the industrial and public utility groups quieted down somewhat, although the undertone was fairly steady. American Telephone, which es« tablished a new high record Saturday, dropped 2 points on profit-taking and American Smelting yielded a point. Harvester each advanced about a point. Foreign exchanges opened stead: with sterling cables unchanged at 4.8 Wall Street Brief; By the Associated Press. The Western Union Telegraph Co. estimates its earnings for the first half year at $7.33 a share, against $7.32 on a slightly smaller number of shares in the same period of 1928. ‘The net income of the Western Union Telegraph Co. for the six months ended June 30 amounted to $7.508.533, com- pared with $7.305,158 in the correspond- | ing period last year. Consolidated Retail Stores reports sales for June amounted to $1,717,060, compared with $1,375.555 for June of last year, an increase of almost 25 per | cent. Lawrence V. Keber, who has been chief of the engineering section of the Department’s Bureau of of the Spartan Aircraft of Tuisa, Okla. The American Can Co. during the past decade, has reinvested in plant and equipment 67 per cent of its earn- | ings available for common stock, an analysis by Bamberger Bros. shows. Of such earnings, which totaled $80,9 015 during the period, the sum of $5 1263.172 has been turned back into the | company. The ratio of earnings to in- vestment in fixed property rose from 2.07 per cent in 1920 to 14.02 per cent last year. The concern now has 56 fac- tories in the United States, Hawall and Canada. ‘Total offerings of new securities— L th stocks and bonds—in the New York maritet 1Ast week was $78,574.000, crease of $58.436,000 over the previous week, which was depleted by the July 4 holida n in- U. S. EXPORTS GAIN. By the Associated Press. Exports from the United States last month were valued at $397.000.000, com- pared with $388,661.000 for June, 1928, while imports totaled $352,000,000 against $317,249,000. The Department of Commerce said that exports for the first six months of this year were valued at $2.627.142 - 000, compared with $2.377.989,000 for the same period last year, and imports totaled $2,284,945,000 against $2,085- 932.000. Gold exports last month were valued at $550,000, compared with $99,932.000 for June, 1928, while gold imports were $30.762,000 against $20,001,000 for June, | 1928. POTATO MARKET ;A‘SIER CHICAGO, ,July 15 (United States Department of Agriculture) —Potatoes— Receipts, 249 cars; on track. 265 cars; total United States shipments for Sat- urday, 829 cars; Sunday, 38 cars; trad- ing slow; market a trifie easier; Kansas sacked Irish Cobblers, few sales, 3.00a 3.10: mostly 3.00; Kentucky sacked Irish Cobblers, 3.00; Virginia, barrel Irish Cobblers, 5.80a6.00: Southern sacked Bliss Triumphs, fair quality, 3.40. After an argument between the South African government and the provincial council over methods and funds, ex- tenstve highway construction in the “Transvaal is being resumed. (Reported by J. & W. Beligman & Co. Allis-Chalmers Co. 5 1937. Aluminum Co. of Ame: Biltimore £°0Rlo 1izy 13 s Batasian ret Corp. ivl- 1 Bell"Tel. of Canadn 58 1955 Galifornia’ Pet. Corp. 3a8 Canadian Nat. Rwy. 4%4s ¢ Wy, 4 Rwy. 4458 Lower; receipts 13,388 tubs; creamery, ! extras, 40Y,; standards, 40%; extra firsts, 39a39%;; firsts, 38a38%; seconds, 37a371,. Eggs—Higher; receipts, 18,001 FOREIGN EXCHANGE. ished by W. B. Hibbs & Co.) e o !:ml:{l £old Belling checks 1930, 3, 163o: Extra Dividend Declared. 15 (P —Directors Co. have de- TR Money to Loan red Prevailing Joseph I. Complete Investment Service GreeeT & Co. BANKERS INVESTMENT BUILDING ‘WASHINGTON. D.C. Telephone, National 2460