Evening Star Newspaper, August 9, 1929, Page 14

14 #¥% STORE SALES GAIN, " RESERVE REPORTS Increase of 1 Per Cent in D. C. Area Under Rich- mond Is Disclosed. BY EDWARD C. STONE. Department store sales for July were 3 per cent larger in the aggregate than in the corresponding month a year ago, according to preliminary reports made to the Federal re- serve system by 463 stores; on the basis of the average per business day, how- ever, the sal 1 per cent smaller than a year 8go. Increases in total sales were reported by 215 stores and decreases by 248 -stores. ¢ The change in sales varied con- siderably for differ- ent parts of the : country, ranging “from an increase of 5 per cent in St. Louis and New York Federal reserve districts to a de- crease of 4 per cent in the Minneapolis district. The report was made by the Federal Reserve Board today. The Richmond district, which includes Washington, had an increase of 1 per cent, 18 stores re- porting gains and 23 lighter sales dur- ing the period. The Atlanta district was one of those experiencing a reduc- tion in sales. The month had 26 busi- ness days this year against 25 a year ago. Percentage changes in total sales be- iween July, 1928, and July, 1929, are iven by districts in the following able: . Percentage of increase or decrease in sales—July, Federal 1929, o No. of stores Reserve pared with _ reporting— +_ Qistrict. July, 1928. Increase.Decrease. United States. 215 248 Boston .. John M. Riordan. . Louis . Minneapolis Kansas City allas ......... San Francisco .. Elected to Insurance Board. Arthur Carr, former secretary of the ‘Washington Board of Trade and active in real estate circles, has been elected to the board of directors of the Mu- tual PFire Insurance Co. to fill the vacancy caused by the death of James T. Petty. Mr. Petty was one of the policyholders in the company for 48 years and one of the managers 23 years. The company was chartered by a special act of Congress in 1855, so it is now 74 years old. Other managers, besides Mr. Carr, are W. A. H. Church, the president; B. F. Saul, C. Kattelmann, L. Plerce Boteler, secretary of the company; E. C. Brandenburg and Frank A. Johnson. U. S. Savings Sells at 600. ‘Ten shares of stock of the United ‘States Savings Bank sold today on the ‘Washington Stock Exchange at 600. ‘This was a gain of $387 a share since the last sale. No share of this stock has been sold during the present year or had there been any sold for a long time before 1929 was ushered in. For a long time the bid on it has been $600 per share, but none has been offered. The stock has a par value of $100 per share and pays an annual dividend of 30 per cent. ‘The only other bank stock out today ‘was American Security & Trust, which changed hands at 455. There was a large amount of small-lot trading in Capital Traction, Potomac Electric Power preferred issues, Lanston, Mer- genthaler, Peoples Drug, Terminal Re- frigeration & Warehousing Corporation and Federal-American Co. preferred. Prices were strong and did not in _any way reflect the break on the New York Stock Exchange, not even reducing the volume of trading. Washington Gas Light stock was in demand today, selling at 126 and 125 + and closing at the higher figure. The bid on Railway common remained at 900, with 999 asked. It develops that the asked price of 999 is a markdown from $1,000 per share, as there is no room on the quotation board for the four figures. There was a good sized turnover in bonds at recent price levels. Washing- ton Railway & Electric 4s were the most active issue. Railroad Situation Reviewed. The latest financial review issued by G. M. P. Murphy & Co., includes a * comprehensive study of several of the leading railroads of the country. As the railroad stocks have been more to the front since the O'Fallon decision was made public, the brokerage has summed up the financial condition of such roads as the Baltimore & Ohio, New York Central, Pennslyvania, Erie, Atlantic Coast, Louisville & Nashville, Southern and others. ‘Various possible mergers are also given attention, the different proposed group- ings being discussed at length. Holders of railroad securities will find an un- usual amount of condensed information in_the pamphlet. S. L. Shanks, manager of the Wash- ington district of the Monroe Calculat- ing Machine Co., Inc., with offices at 1317 F street northwest, has been pre- ? sented with a silver trophy in recogni- tion of the fact that his district le the country in percentage of sales dur- ing the month of June. This sales ‘record also won for the Washington ~district.a pennant which is awarded to !'the district having the highest per- . centage of sales in its class. Another Banker Off for Vacation. John M. Riordon, vice president of ./the Bank .of Commerce & Savings, + leaves Washington Monday for Marthas Vineyard, where he will spend three weeks or a month's vacation at that popular resort off the Massachusetts coast. Mr. Riordon has been connected with the Bank of Commerce & Savings ! ever since it opcned. Incidentally, he . has served on all the District Bankers’ . Association committees of importance. | Frank Owings, cashier of the same bank, : returns from his vacation next - week' | after an outing on Chesapeake Bay. Y. E. Booker, head of the investment firm by that name, is in New York to- day on business. * Harry M. Wheeler, for several years connected with W. B. Hibbs & Co., 15 1 on his vacation, Ocean City, N. J., being ; one of his objectives. { L. W. Todd, ‘manager of the Wash- ington office of Harriman & Co., is ex- . pected back' from his vacation early : next week. He is now in Canada on-a |' canoeing trip. A. R. Morse of the local office :: 95 & FINANCIAL 1920~ Stock ana Low. Dividend Rate. 38% Abitibi Power & Pap 79 Abitibi P & P pf(8). 84% Adams Exp pf (5). 27% Adams Millis (2) 27 Advance Rumley. 40% Advance Rumley 1% Ahumada Lead. 95% Alr Reduction (3). 87% Alr Wal El Ap(2%). 4% Ajax Rubber. 4% Alaska Juneau. Sales— Add 00. High. 50 52% 4 12 Albany P W Paper.. " 27% Alleghany Corp. . ... 994 Alleg Corp pt (5%). 100% Alleg C pf rets(53%). 8214 Alleg pf rec 5% xw 118 85% Am Brake Shoe 2.40. 34% 15% Am Brown Bov Elec. 170 107% Am Can (14) 23% Am Encaust Til (2).. 82% Am European Sec 75% Am & For Power. 88 Am & For Pw 2d pf. 24% Am Hawailan (1)... 6 Am Hide & Leather. 30% Am Hide & Lea pf... 64 Am Home Prd (3.60) 38 Amlce(t3)......00 52% Am Internat (32)... 4% Am La F & Foamite. 102% Am Locomotive (8). 50 Am Metal (3).. 81% Am Pow & Lt (1) 40% Am Rad&Std S(1%). 32% Am Republic: 106% Am Roll Mill 61 Am Safety Raz (1| 93% Am Sm & Ref (4). 46 Am Snuff (n)... 56 Am Steel Fdy (3). 65 Am Stores (2).. 71% Am Sugar Rfg (5). 354 Am Sumatra (3)... 193% Am Tel & Tel (9). 160 Am Tobacco (8) 160% Am Tobacco B (8)... 67% Am Water Wks (c1). 172 16% Am Woolen. 391 Am Woolen pf. . 9 Am Writ Paper ctfs. 39 Am Writ Papr pf (3) 22% Am Zinc Ld&Sm.... 99 . 62% Anaconda W&C (3) 43 Anchor Cap 12.40) 29 Arcl 10% Armour 111 (A) 5% Armour Il (B). 71% Armour Il pf (7).. 19 Arnold Constabl 26% Art Metal (1%) 49% Asso ApplInd (4) 70% 43 AssoDry G (3%). 276% 195% Atch T & SFe (10).. 209% 169 Atl Coast Line (110). 67% 32t AtIG& W Indles.... 61': 45% AtIG& W Lpf (4).. T7% 53% Atl Refining (11%). 17% 10% Atlas Tack..... 115 90 Atlas Powder (4).. 432 221 Auburn Auto (j4) 10 5% Austin Nichols 35% 22lh Autosales. 43% 36l Autosalés pi 50 41% Auto-Strop Raz Baldwin Loco (n) 138% 115% Balto & Ohio (6). 88% 6413 Bang & Aroos (3%). 29% 7 Barnet Leather. 49% 331 Barnsdall (12%4). 113% Bayuk Cigar (2)... 327 Beacon Oil.... 96 Beatrice Cream (4). 101 Beech-Nut Pack (3) 17% Belding-Heminway . 847 Belg N Ry pt pt (16). 12 Anaconda Copr (7)..19: Bendix Aviation (2). 260 75% Best & Co (3). 8214 Bethlehem Stes Bethlehem St pf (7). 100%; 83% Borden Co (3) 143% 107 Borg Warner (§4) 144% 85 Boston & Main 63% 30% Briggs Mfg... 4315 36 Briggs&Stratton(2). 130% 115% Bristol Myers(t43%). 73% 40% Brockway M T (3) 817% 687 Bklyn-Manhat (4) 241% 170 Bklyn Union Gas (5). 49 38% Brown Shoe (2%)... 35% Bruns-Balk-Col(3).. 25% Bucyrus £rie (1).... 381 Bucyruscv pf (2%). 54% Buff & Susque. 45% Bullard Co (12). 94 Burns BrosA (8 22% Burns Bros B. 6215 Burr Add Mach 54% Bush Term (82)..... 4% Butte Copper & Zinc. 28 Butterick Co. . 122Y% Byers (A M). 31% By-Products Coke 72% Calif Packing (4)... 113 Callahan Zinc & L. .. 123 Calumet & Ariz (10). 36% Calumet & Hecla(4). 98% 78 CanadaDryGA (5). 265% 218 Canadian Pac (10) 35 Cannon Mills (2.80 22 Cavanagh-Dobbs b2 Celotex (3) 40% Cant Alloy 9% Century Rib 88% Cerro de Pasco (6) 16% Certain-teed Prod... 275% 195 & Ohio (10).... 79 Chesapeake Corp (3) 6% Chi& Alton pf...... 12% ChiGreat Western. . 38 ChiGreat Westn pf.. 27% Chi Mil St P&Pac. .. 46% Chi Mil St P&Pac pf. 80% Chi&N W (4)..c000 134 Chi&N W pf (7). 28% Chi Pneu Tool. . 48% Chi Pneu T pf (3%).. 115 ChiR1&Pac (7). 36 Chickasha C Oil (3. 44% Childs Co (2.40). 66 Chrysler Corp (3 49 Citylce & F (3.60 19% City Stores (1) 248 CCC&StL(8). . 42% Cluett Peabody (5).. 120% Coca-Cola (4)... Collins & Atkman. 56 Colo Fuel & lron. 101 53% Columb G & E (2). 86 Colum G&E pf B(5) 55% Col Graph (2%¢).. 43 Com Credit (2). 50 Comm CreditA. 131% Coml Inv Trust (34). 226% Com Solvents (h8). 59'% Conde Nast Pub (2) 56% Cont'l Bank of N. Y.. 60 Contl Can (23%). 79 Contl Insurance 83 Crosley Radio ($1)., 42% Crown Cork & Seal. . 18% Crown Zellerbach (1) 130% 85 Crucible Steel (5)... 116% 109 CrucibleSteel pf (7) 6% ' 1% Cuba Cane Sugar.... 18% 5% Cuba Cane Sugar pf. Cudahy Packing (- Curtis Publishing(6) Curtiss Aero (1).... 101% 68% Cutler-Ham (3%). 69% 42% 46% 38% 226 182 160% 120% % 55% 84% 43% 1% 8% 54% 40 Davison Chem Debenhams (a: Delaware & Hud (9). Del Lack & W (17).. Denv& R G W pf. Devne & Ray A (13). Dome Mines u() 31 1 b1 97 48 27 Colo & South (3).... 4 11 121% Columb Carbon t4% . 3 15 45 40% 4l% 49% 21 111% 110 110% 334 19 207% T6% 112% 168 56 26% Stock and Dividend Rate. Add Dunhill Inter (34)... Duplan S{1k (1), .. .. Du Pont de N(t4i4). 45 Dupont d N deb (6 3 Sales— 00. High. Low. 5 50 50 5 22% 22% 1864 18 189% 112 e Eastman Kod (18).. Eaton Axle& S (3).. Eitingon-Sch (2%).. Elec Auto Lite (6) Electric Boat. 9 ElPwr& Lt (1). 206 El Pwr & Lt pf (7).. Elec Stor Bat (5). Emmerson-Brnt A Endicott-John (5)... Iing Pub Serv (11).. Eng Pub Sve pf (5).. Eng Pub Sve pf(5%) Equitable Bldg(2%). ErfeRR....... Erfe R R 1st pf (4 Eureka Vac Cl (4) Evans Auto L($2%). 27 29 10 60 9 19¢ Fairbanks Mor; Fash Pk Asso(k23% ). Ired Lt & Tre (313%). * Fed Motor Tr (80c).. Fid Phen F Ins (2).. First Nat Stores 1%, Fisk Rubber. . Flelschmann (13%). Flelschmann ctfs. Follansbee (123%)... Fox Film A (4). Freeport-Texas (4 Fuller pr pf (18.68 Gabriel Snub A. Gardner Motor, . Gen Am Tnk Car(34) Gen Asphalt. . Gen Eronze (2). Gen Electric (16)... 329 Gen Elec spec (60c). 4 Gen'l Food Corpm (3) Gen Gas&El A (e1%) Gen Mills (3). Gen Mills pf (6) Gen Motors (13.30 Gen Motors pf (7) Gen Outd Adv A (4). 4 Gen Outd Ad vte (2). Gen Public Serv(b§) Gen Ry Signal (5).. Gen Refrac (13%)... Gillette Safety R (5) 4 Gimbel Brothers..... Gimbel Bros pf (7).. Glidden Co (t1%)... Gobel (Adolf). . Gold Dust (2%).. Goodrich BF (4). Goodyear Tire (5)... Goodyear 1st pf (7).. Gotham Silk H (2%) Gould Coupler. . 4 Graham-Paig Graham-Paige ct. Granby Consol (7) Grand Stores (1) Grand Stor pf (6 Grand Union. . Grand Union pf (3).. Granite City Stl (3). Grant WT (1).....v Grt North pf (6).... Grt North pfet (5).. 5% Grt Nor Ore (al%).. Grt West Sug (2.80). Greene Can Cop (8).. Gulf Mo & North.... Gulf Sta Steel (4)... H- Hahn Dept Stores... 102 Hahn Dept S pf(6%) 32 Hartman B (1.20)... 154 Hayes Bdy (b§%5tk) 20 Helme (G W) (17) 1 Hershey Chocolate. . Hershey Choc pf (4). Hershey Ch pr pf(6). Hoo (R) &Co..... 36 & Holland Furn (e2%5). 4 Houston Oil. Houd Hersh B (1%). Household Prd (14). Howe Sound (1434 Hudson & Man (2%) Hudson Manh p£(5) 4 Hudson Motor (5) Hupp Motor (£2) 4 Illinols Central (7).. % Independ Oil & G (2) Indian Motor Cycl Indian Refining. Indian Refining ct... Industrial Rayon.... Ingersol Rand (5%). 4 Inland Steel (3%) Inspiration (4) % Interboro Rap T Intl Business M (5 Intl Cement (4). Intl Comb Eng (2)... Iatl Cmb Eng pf (7).. Intl Harvester (23). Intl Harv pt (7)... 5 Int Hydro El A (e2). 4 Intl Match pf (3.20). 3¢ Int Mer Marine . Intl Nickel Can (80c) Intl Pap & P A(2.40). Intl Pap & Pwr p2(7) 4 Intl Print Ink (2%).. Intl Silver (18)....00 Intl Tel & Teleg (2) Intertype (£11%)..) Investors Equity Co. 25 Island Creek Coal(4) 3 P Jewel Tea (3).eu.ees 6 Johns-Manville (3).. 93 Jordan Motor Cal 12 194% 59% 112 190 58 26% 150% 10% 72 104% 83% % 62% 67% 2 109% 50% 1% 179% 6% Kan City Sou (5).... 22 4 Kaufmann DS (1%) 4 Kreuger & Tol(1.34). Kayser J &Co (5)... Keith-Albee-Orph. .. Kelth-Albee-O pf (7) Kelly-Spring Tir Kress S H (1). i 451 Kroger Gr&Bak(c1). 175 Lago Oll & Trans. Lambert Co (8). Lee Rubber & Tir Leh Port Cem (2%) .. Lehigh Valley (33). Lehigh Valley Coal.. Lehn & Fink (3)..... Libbey Owens G (4). Liggett & My (15)... Liggett & My B (15). Lima Locomotive. Liq Carbonic (t4%). Loews Inc (2) . LoftInc...... Long Bell Lumb A. . Loose-Wiles (2.60).. Loriilara (P) Co. Lorillard (P) pf Loutsiana Oil. .. ‘81 LouG&ElIA (1%).. 122 Louis & Nash (7).... 2 Ludlum Steel (2).... 56 MecCrory B (2) . McIntype Pore M(1). IdcKeesport T P (4).. McKesson & Rob (2) McKes & Rb pf(3%). Mack Trucks (6) Macy (RH)&Co (¢ Madison Sq G (1%) Magma Copper (5).. Mallinson & Co. . Man EI Marlin-Rockw (14). Marmon Motor (4).. Mathieson Alk (e2). May Dept Strs (4)... Mid-Continent P (2). Middle States Ofl.... Middle States Ofl ct.. Midland Stl pf t10%. Miller Rubber. .. Minn Moline Pwr. Minn & St Louf: Mo Kan & Texa: Mo Kan & Tex pf(7). Missour! Pacific, 991 27% 51 104% 38% 80 61% 48% 47 41% 624 90 14% ok 2 823 55% b1 2 104% 104% 50 90 89 Prev. | Close, Close. 50 50 Y ~Prev. 1920~ High, 147 80% 1567% 8 Stock and Dividend Rate. Missourt Pac pf (5).. Mohawk Carpet 12% . Mont Ward (2% ) .. Moon Motors. . Bales— Low. 19 831 4 Motor Meter G& E Motor Wheel (2).... Mullins MIg..oo.. 0 Munsingwear (13%) Murray Corp (a3). Natl Bella Hess(31). Natl Bel Hes pf (7). Natl Biscuit (16% Natl Cash Reg (14 Natl Dairy ($1%) Natl Dept Stor Natl Distiller: . Natl Distillers pf(7). NatlEnameling (2).. Natl Lead (5)....... 1 Natl Pwr & Lt (1)...1034 4 Natl Rys Mex 2d pf.. Natl Supply (18) Natl Surety (5). Natl Tea (1%).... Nevada Copper (3) Newport Co A (3). Newton Steel (3) N Y Air Brake (3). N Y Ont & West..... N Y Ratlways pf.... Norfolk&Wstn(110). 15 North Am(b10%stk) 402 North Am pf (3) 2 NoGer Lloyd (3.41). 5 3 Northern Fac (5).... 40 North Pac ct (5) Norwalk Tire& Rb.. 1 Ol Well Supply..... 2 Oliver Farm Equip. . Olivr Fr Eq pt A(6). Olivr Fr Ep cv pt(3) Omnibus Corp. 3 Otis Elevator ( Otis Steel. . Owens 111 Gla! D ———— Pacific Gas & E (2).. 163 Pacific Lighting (3).. Pacific Oil stubs..... Packard Motor (15). Packard Mot (new). . Pan-Am Petroleum Pan-Am Pete B Panhandle P & Paramount-F-L (3).. Park & Tilford (33). Park Utah (80c). Pathe Exchang 453 812 2 Patino Mines (3.89).. Peerless Motor Car.. Penick & Ford. Fenn Coal & Coke. Penn Dixie Cement Pennsylvania RR(4) Pere Marquette (18). Pet Milk (13). Phelps Dodge (3) Phila Co 6% pt (3) Phila& Read C& 1 Philip Morris (1) Phillips Pete (1% Pierce-Arrow A. .. Plerce Oil.. Pierce Petroleum..., Pillsbury Flour (2).. Pirelli Co A (2.88)... Pittsburgh Coal..... Pittsburgh Coal pf Pitts& W Va (6).... Poor & Co (2)..evene 3 P Rican Am To (A)7 P Rican Am To (B).. Prairie Oil & Gas. Prairie Pipe L (14) Pressed Steel Car. Pressed Stl C pf (7 Pullman Corp (4).... Punta Alegre Sugar. Pure Oil (1%)... Purity Bakeries (4 % Radlo Corp. . Radiopt B (6)..ceee 5 Radio-Keith-Orph A. 561 4 Rallway & Exp (2) 7 Reis (R) & Reis (R)&Co 1st(7).. Remington-Rand. ... 187 Reming-Rnd 1st (7). 2 Reo Motors (11.60) Rep Brass Corp Rep Brass pf (7) Rep Iron & Stl (4)... Reynolds Spring. Reynolds Tb B(2.40). Richfield Oil (2)..... Rio Grande Oil (k2). Ritter Dental (2%).. Rossia Ins (2.20).... Royal Bak Pwdr(1).. Roy Bak Pow ctfs(1) Royal Dutch (a1.336) Safeway Stores (3) St Joseph Lead (13 St L-San Fran (8)... St L-San Fran pf (6) St L Southwestern. Savage Arms (2) Schuilte Retail Strs Seaboard Air Lin 4 Seaboard Air Line pt Seagrave (e1.20).¢.. Sears Roebck (32%). Seneca Copper.... Servel Inc. . Sharon Steel H (2).. 113 Sharp & Do pf (3%3). 8 Shattuck F G (2) 3 Sinclairoil (12%). Skelly O11 (2)... Sloss Sheffield steel.. Snider Packing. . Snider Packing pf... So Porto R Sug t2%. 38 Southern Cal Ed (2). 250 Southern DairfesB.. 1 Add 00. High. Low. Cl 5 139 250 170%3163% 525 53 106 105% 17 36 40 2 93% 6 51 €8 1167% 7.1 -Prev. 1029~ High. Lo 138 Spencer Stand G Stone & Timken Timken 3 246'% 5244 52% 104% 105%; 2 2 16% 3914 9314 50% Unfon U S Ina ea Warner Warren Warren Weston Wright 1% 4% 17% I 1 5% ate: cash Davichls Bised hllflg{!’.n“ of trading in_stock a; iis 10% 1n stock. i Plus 8% In_stock. Stoe~ and Dividerd Rate. Add Southern Pacific (6) Southern Rwy (8). 4 Sparks Withgtn (n Telautograph (1).... Tenn Cop & Ch (1)... Texas Corp (3).. Tex Gulf Sul (4). ‘Texas & Pac (5). . Texas P C & Oil (b5), Texas Pac Land Tr. s—— Underw-El-Fish(4) Jnion Bag & Paper. 3 Union Carbide(2.60). 311 Union Oil Calif (2) Union Pacifie (10). Univ Pipe & Rad. 2 Util Pwr & Lt A (e2) 513 Wrigley Wm (4). Yale & Towne (4) Yellow Truck & C. Young Sp&W «(12%). Young Sheet & T (5) Zenith Radio........ RIGHTS _EXPIRE Col Gas&El..Aug 15 Gen Cigar rights. Macy Co rights. Mont Wi Stand Gasrts Aug.31 Transcont Ofl rts.... Utd Corp.....Aug 16 348 Sales of Stocks on New York Exchange. 1 343,800 «e0 3,897,100 . 's as glven in the above table a: 4% In stock. ‘§Plus § aPald this Jear—no regular rate. Payable when e; FINANC Prev. Low Close. Close. 136% 137 141 148 148 149% 56% 56% b Sales— 00. High. 31 140 Kelg(1. Spicer Mfg. Spicer Mfg p! ) Splegel-May-St (3)., Stand Com Tob (1).. Stand Gas & El (3)4) & Epf (4)... Stand Milling (6) Stand Ol Calif (13). Stand OIIN J (12)... Stand Oil N Y (1.60). Stand Plate Gla. Sterling Sec (A).... Sterling Sec pf 11.20. Stewart Warnr(3%) 15 67% 5 164 1% 71 6% 42% 14 13% Webster. 19% 17% 60'% 71 170 16% 14% 26 36 45 181 88 19% 17% 604 71 . 188 108 7' Tide Water Oil(80c). 2% 4 Det Ax(80c). Roller (3)... ] Tobacco Pr (1.40). 4 Tobacco Pr A (1.40). Tob Prod ctfs(1.40).. 4 Tob Prod ctfs A 1.40. Transcontinental. ... Truscon Stl (31.20).. Twin City Rp T (4).. U ific pf (4) Unfon Tank Car(5) 37 Utd Afrcraft&T pf 3. Utd Biscuit (1.60). United Carbon. % Utd Cigar Stores(1). Utd Cgr Store ctf Utd Corporation. Utd Corp pt (3) Utd Electric Co; Utd Fruit (c4). Utd Gas & Imp (1). Utd Gas & Imp pf(5 12% Utd Paperboard % U S Distributing. ... U S Distrib pf (7) U S Forelgn Secur. U S FornSec pf (7). Alco (6).... U S Leather........ U S Leather A (4)... *S Pipe & Fdry (2). ity (5). Smelt Ref (3%). S Smelt Ref pf 315 20 Vadsco Sales. Vanadium (14).... Vick Chemical (4). Virginia-Car Chem Virginia-Car 6% pf. W— WABRARSL - o oo dur Wabash pf A (5).... Waldorf Systm (1%) 24 Walworth (1.20) . 7 Ward Baking B 14 Bros Fie (n) 362 Warn Br P pf(2.20).. 5 Warner-Quinlan (2). 22 Bros (15) Fdry & Pip Webster-Eisenlohr. . Wess Oil & Snow(2). 4 Wess O & Sn pt (4) Westn Dairy A (4 Westn Dairy (B). Western Maryland. . Western Pacific Western Pacif pf.... Western Union (8) Westngh Air Brk(2). Westngh E1&M (4) 3514 63 El Instru Westvaco Chlor (2). White Eagle Oil (2). White Motor (1).... White Sewing Mach. White Sw Mch pf(4). Wilcox Rich(A)2% Wilcox Rich(B)cz. Willys-Over (c1.20). Willys-Over pt Wilson & Co. Wilson & Co 4 Wilson & Co p: Woolworth Co. .. Worthington Pum; Worthington B. 413 231y 97 6% 16 5615 89 Aero (2). Y- d..Aug 26 12:00 Noon 2, 2:10 P.M. the annuai on the latest quarterly or haf yearly dec- less than 100 shares. 3 in preferred siock. Bhus "% in Siotk (Sopius 6% in stock. b Plus 3% 1o stock. Wall Street Briefs NEW YORK, August 9 () —Struc- tural steel awards during the past week amounted to 34,000 tons, about the same as during the preceding week. More than half of the tonnage was for work in New York City. The National Automobile Chamber of Commerce estimates that .motor car production in the United States during July exceeded 500,000 units. June pro- duction amounted to 536,309 units, while the output in July, 1928, totaled 417,314, Chicago, Milwaukee, St. Paul & Pl-::?flec Rl\ll'gold is in the market for 1,000 gondola cars and the Ann Arbor Rallroad for 100 hopper car bodies, Iron Age reports. The Simmons Co., bed and spring manufacturers, reports July sales amounted to $4,139,604, as against $2,- 896,716 in July, 1928, an increase of more than 42 per cent. Three water companies operating in Pennsylvania, three in West Virginia and one in New Jersey have been ac- quired by the National Water Works Co. They are the Mount Pleasant Wat- er Co, Mount Pleasant, Pa., formerly operated by the United States Steel Corporation; Citizens’ Water Co., Seoct;- Kingwood Gold movements at the port of New York for the week ending August 7 comprised & net gain in the stock of ear-marked gold of $1,000,000, im Latin American countries. All of the 30ld exported was sent to Mexico. A. D. Joyce, president of the Glidden Co., paint and varnish manufacturers, of Cleveland, said yesterday that it was the intention of the directors to con- tinue payment of a quarterly dividend of 1 per cent in stock instead of extra cash dividends, as paid heretofore. Production of standard cottdn cloths during July amounted to 234,439,000 yards, a decrease of more than 2¢ per cent from the June figures, the Asso- ciation of Cotton Textile Merchants of New York announced today. Sales dur- ing July totaled 262,889,000 yards, equal to 112.1 per cent ot production. Ship- ments amounted to 252,779,000 yards, or 107.8 rr cent of production. Both sales and shipments were below pro- duction in July, 1928. % Reports from London yesterday stat- ed that the London Tin Syndicate, formed recently as a move to stabilize the productoin an price of tin throughout the Brifish Empire, had offered to purchase the undertaking: and assets of Ropp Tin, Ltd., an indec- pendent producer, operating extensive works on the Bauchi Plateau, in North- ern Nigeria. Seaplane Catapulted From Liner. HAVRE, France, August 9 (#).—A Commodity News SAN FRANCISCO, August 9 (Spe- cial) —Turkey growers of Northern Cal- ifornia have formed a State-wide pool which is expected to be functioning in time to market the 1929 crop. The 10 existing associations are embraced in the new organization, the business of which this year probably will amount to over a million dollars. The object is to stabilize prices. CHICAGO.—While rumors are flying of reduction in prices of crude oil in the Mid-continent field, no confirma- tion has developed as yet. Supplies are heavy, but consumption continues at a record-breaking levei, with the result that producers are trying hard to main- tain prices. Sooner or later reductions are looked for. ‘YOUNGSTOWN.—Excellent demand for plates, shapes and bars from the building industry and from the railroad car builders is noticeable in this dis- trict. All production is booked up from four to eight weeks ahead. NEW ORLEANS.—Mills of the South- ern Pine Association report new busi- ness advanced 5.89 per cent in the last seaplane was successfully catapulted from the liner Ile de France yesterday and will be carried on the trip to New York on August 14. It was recalled that the French Line inaugurated ship- to-shore air mail in 1928. Gallery Goobers Going. ST. CATHERINES, Ontario, August 9 (#).—Another menace of the talkies develops. One theater here has barred the eating of neanuts among the gal- lery , asserting that it produces a pseudo-static interference with the sound motif and such new fandangles. Seven new theaters are under con- London, ther struction in the west end of week to 62,643,000 feet. Shipment drop- ped to 82,244,000 and production rose 19.58 per cent to 65,296,000 feet. KANSAS CITY,— Hog prices are around 5 per cent higher than they ered least of all field IAL PRIGES COLLAPSE ON STOCK MARKET Reserve Rate Increase Has Devastating Effect on Quoted Values. BY STANLEY W. PRENOSIL, Associate Press Financial Editor. NEW YORK, August 9.—The Pederal Reserve's latest thrust at securities speculation—an increase from 5 to 6 per cent in the New York Bank rate— brought about one of the sharpest re- actions today in the history of the New York Stock Exchange. Prices of leading stocks broke 5 to nearly 30 points in the public’s mad scramble to get out of the market, with indications that the day’s sales would run around 7,000,000 shares. The increase in the rate which co- incided with the gain of $60,000,000 in Federal Reserve brokers' loans to & new high record above $6,000.000,000 caught Wall Street completely by surprise. While the recent action of the marke: with spectacular advances in many of the public utility and high-priced in- dustrial stocks, had drawn warnings Irom conservative bankers and com- mission house¢s, but few traders were prepared for such a sweeping decline. Bank of England Watched. | There had been a rather general feeling in the financial district that an increase in the Federal Reserve rate, previously characterized as “the last resort” of the Federal Reserve Board by Chairman Young, would be preceded by a higher rate by the Bank of Eng- land, which has suffered a serious de- % | cline in its gold reserves as a result of heavy shipments to France. Conse- quently, when the London rate was an- nounced as unchanged yesterday, no increase was looked for here. The “secondary reaction” undermined speculative confidence as several of the large commission houses had advised their customers that the opening quo- tations probably would remain as the lows of the day, if not for some time to_come. The higher Federal Reserve rate brought no immediate change in the credit situation, although it was gen- erally believed that the sharp deflation in security values would gradually ease the = stringent monetary conditions Call money renewed unchanged at & per cent. with time money rates firm around 9 per cent. No immediate change was made in the open market rate on bankers' acceptances as a result of the action of several Federal Reserve banks in reducing their buying rate for | bills from 514 to 5!5 per cent. Breaks at Opening. The market broke sharply at the opening in response to the increase to 6 per cent from 5 in the New York Federal Reserve rediscount rate. West- inghouse Electric dropped more than 8 points and Kennecott Copper, Union Carbide common, New Haven, United Gas Improvement and Columbia Graphophone slumped from 4 to more than 5 points. Pennsylvania Railroad and New York Central each lost about points. The recent bull favorites among the { utilities and related stocks broke wide open. American_Telephone broke 15 points, General Electric 14, American & Foreign Power nearly 13 and Amer- ican Water Works and Standard Gas & Electric more than 9. Consolidated Gas lost 4'; points. Auburn Auto tumbled 261 points. and such issues as United States Steel, Bethlehem, American Can, Interna- tional Telephone, Warner Bros., Mont- gomery-Ward and Missouri, Kansas & Texas lost 4 to 5 points. Alleghany Corporation dropped more than 3 points in a transaction of 25,000 shares and Radio and General Motors sagged 3 and 3%, with blocks of 20,000 shares chang- ing’ hands. Tally Spends Force. ‘The ra.ly continued during the early | forenoon, but appeared to spend iis | force midday. ~ American Telephone, which sold off 15 points, rallied 81 from the bottom, and American & For- eign Power and Packard Motor regained about 5 points of their losses. Recovs eries of 1 to 3 points were fairly gen- eral, save in isolated instances, such as Macy, which sold off 9 points. Call money renewed at 8 per cent. AMERICAN WbMAN’S SON { INHERITS FRENCH TITLE | | | Heir of Mrs. Marguerite Mailly | and Divorced Husband Succeeds Father as Prince. ! By the Associated Press. SAN FRANCISCO, August 9.—The 1 Examiner today said Gilles Matlly, 11- year-old son of Mrs. Marguerite Mailly of San Francisco and her divorced hus- band, Comte Anselmo Mailly-Challons, has inherited the title of his French father, who died in Paris July 24. Count Mailly-Challons, who also held i the title of Prince de Lisle-Montreal, | was said by the newspaper to have been a French ace in the World War, recip- ient of every decoration the French gov- ernment could bestow. During the war Mrs. Mailly, then Marguerite Morbio, granddaughter of the late Adolph Sutro, San Francisco capitalist, was an ambulance driver. The marriage of Miss Morbio and the count in France followed a romance behind the lines. A year later Mme. Mailly was granted a divorce here. The Examiner declared that the boy was legally the heir of Count Mallly- Challons reErdless of the divorce. In Nearby Virginia Commonwealth Investment Co. 917 15th St. N, Phone National 2623 Mortgages Investments JAMES Y. PENNEBAKER Nat.5291 1520 K St. N.W. UNLIMITED FUNDS FOR LOANS On Improved - Real Estate In Nearby Maryland, Virginia and the District of Columbia For Periods of 3,5 or 10 Years Low Interest Rates and Charges BOSSEMELPS 1417 K S:‘.“ E. Collinge_recently caught 3 n:ml Hastings, of 'elzhlnl 641, pounds a 1907 National 9300 Loan Correspondent John Hancock Mutual Life Insurance Co.