Evening Star Newspaper, August 14, 1929, Page 14

FINANCIAL. STOCKS IRREGULAR 14 usiser FINANCIAL. WL &T.COMPANY | G_STAR, WASHINGTON, D. C., WEDNESDAY, AUGUST 14, 1928. TRANSACTIONS ON THE NEW' YORK STOCK EXCHANGE ‘ Steck ana Bates— +-Prev. 1929~ Stoe™ aria Sales— - Prov. Divider d Rate. ~ Add 00. High, Low. b Dividend Rate. = Add 00. High. Low. Close. Close District Financial Institution _to Hold Qpen House Tomorrow. The Washington Loan & Trust Co. is now 40 years old, and plans to observe this important birthday anniversary to- morrow in simple, yet dignified manner. By holding open house, both in the home cffice at Ninth and F streets and at the West End branch at Seventeenih and G streets, pany will celebrate the establishment of the irstitution, when on August 15, 1889, a charter was obtained under the laws of the State of West Virginia. ‘There was then no provision for the establishment of trust_companies in the Distrizt of Co- lumbia. When Congress in 1890 en- acted a law authorizing the incorpora- tion of trust companies in the District the company promptly took advantage of the privileges of that act. Original Officers. Three of the original officers and directors of the company still continue to serve. The first officers of the com- pany were Brainard H. Warner, presi- dent: John Joy Edson, vice president; W. B. Robison, secretary; William B. Gurley, treasurer, and John B. Larner, general counsel. Of these men, Mr. Edson continues as chairman of the| board of directors, while Mr. Larner now heads the company as its president. Besides these two, the remaining mem- ber of the original board of directors is Albert F. Fox. President Larner is visiting his daugh- ter., Mrs. A. Chambers Oliphant, at Beach Haven, N. J., where today he began receiving congratulations on the fortieth birthday of the institution which he hea Congratulations also began arriving at the offices here today. ‘The place tomorrow will be decorated with flowers, celebrating the birthday. ‘The first temporary offices of the com- pany were opened 40 years ago at 1001 F street until the completion of the 10- story building on the corner of Ninth and F streets in 1891. In 1911-1912 the banking quarters were greatly en- larged, and in 1927 the building was ex- tended over the three adjoining prop- erties, greatly increasing the quarters of the various departments of the com- pany. In the meantime, the establish- ment of many Government bureaus in the western section of the city led to the opening of the west end office of the company in 1917 at Seventeenth and G streets. This temporary office was replaced in 1924 by a beautiful modern structure, which is much ad- mired by architectural authorities. History of Company. The history of the company has been | one of steady growth and progress. and it enjoys an enviable reputation for conservative and, at the same time, progressive policies. During the World War it took a very active part in the Liberty Loan drives. The company is a member of the District of Columbia Bankers' Association, of which Mr. Lar- ner is an ex-president; of the American Bankers' Association, and of the Clear- ing House of Washington. Its deposits today stand above 16 millions, while its capital assets now are 312 millions, and its stock is quoted around $550 per | share. The company's board of directors has alwavs included many distinguished men and consists at present of the fol- lowing: John Joy Edson, chairman of the board; John H. Clapp, Frederick V. Coville, Augustus Crane, Floyd E. Davis, James R. Ellerson, jr.. L. Whit- ing Estes, Albert F. Fox, Melville B. Grosvenor, Holcombe G. Johnson, John A. Johnston, S. H. Kauffmann, Carl B. Keferstein, George A. King, J. Leo; Kolb, John B. Larner, John C. Letts, Harry G. Meem, Theodore W. Noyes, A. Chambers Oliphant, Andrew Parker, John Barton Payne, Walter S. Penfield, Arthur Peter, Harvey W. Wiley, Donald ‘Woodward. The officers are John B. Larner, president; Andrew Parker, Harry G. Meem, Arthur Peter and Charles H. Doing, vice presidents; Charles R. Grant, treasurer; James M. Mason, George M. Pisher and Ralph Endicott, assistant treasurers; Alfred H. Lawson, real estate officer, and Herbert W. Primm, assistant real estate officer; Willlam H. Baden, trust officer, and Leonard Marbury, assistant trust off- cer: Willlam H. Harper, manager safe deposit department; Norman E. Tow- son, manager foreign department; Arthur C. Doying, manager bond de- partment, and Eliot H. Thomson, man- ager publicity department. D. C. Exchange. Capital Traction continued its slight decline on the Washington Stock Ex- change, the stock opening at 92 a fraction under prior sale, and dropping by fractions to the last sale at 913. National Capital Bank turned over one share at 240, as compared to last previous sale of 265. American Security & Trust was steady at 454, and Federal American Co. common was up & shade to 41% on a four-share sale. Potomac Electric 5!, preferred was up to 109 on a turnover of 17 shares, while the 6 per cent preferred gained a fraction on six shares. Trading in_ bonds was fairly light, ‘Washington Gas 6s A selling off 13, while the 6s B of the same company went at 103 and 103, as compared to prior sale of 106. In study of th eautomobile outlook for. the remaining half of the year, Bar- ron's Fnancial Weekly says that the “predictions of early this year that 1929 might see an automobile production of 5,000,000 cars are being rapidly revised downward as a result of the curtail- ment of production that has been under way since the opening of July. Few authorities now look for more than 4,250,000 for the full year.” Ford’s absence from the field enabled the major companies to make big - duction gains. But “with Ford back in the picture the fact that aggregate gro~ duction cannot be pitched at anything approaching the 5.000,000-car mark is being driven home.” | Vete on Securities. ‘Washington investors lhve shown keen interest in results of a vote by business men attending the Summer courses at Harvard Business School ‘as o the investment securities which bad the greatest chance of appreciation by 1939. Americi ‘Telephone & Tele- graph, Curtis-Wright, General Electric and First National Bank of New York lead the list. The stocks chiefly favored and the votes cast for each were as follows: John B. Larner. A by ‘of W. B. Hibbs & Co. has returned from vacation at Lake George, Saratoga Springs, and Springs. 0 | = £ J 79 Abitibl P& P pf(9). 27 Advance Rumley. 40% Advance Rumley pf. 1% Ahumada Lea 95% Air Reduction 278 Alleghany Corp..... b 100% Alleg C pf ret8(5%). 864 8215 Alleg Cpf (5%)xw.. 86 8214 Alleg pfrec5i xw.. 846% 241 Allled Ch & Dye (6). 125 1204 Allled C&Dpf (7)., 284% 166 Allis-Chalm Mt (7) 11% 6 Amal Leather.. 42% 22% Amerada Corp (2) 23% 10% Am Agricul Chem... 148% 110 Am Bank Note (13) 60% 46 Am Beet Sugar pf. 54% 18 46% Am Chicle (2). 43% Am Com Ale (k1.60). 23% Am Encaust Til (2). 823 Am European Sec 75% Am & For Power. 104 Am&ForPwpf (7). 1 88 Amé&ForPw2dpt.. 2 24% Am Hawalian (1)... 11 30% Am Hide & Lea pf... 64 Am Home Prd (3.60) 52t% Am Internat (12)... 4% Am La F & Foamite, 102% Am Locomotive (8 147% Am Mach & Fdy(15). 50 Am Metal (3). 118% Am Metal pt 4 AmPiano...... 1 81% Am Pow & Lt (f1. 38 98% Am Pow & Ltpf (6). 3 78 AmP&LDtAst(s). 2 40% Am Ra&Std San1%. 84 31 Am Republics. 25 106% Am Roll Mill (¢2)... 112 61 Am Safety Raz (16).. 10 321% Am Seating (3)..... & 3 Am Ship & Com. 93% Am Sm & Ref (4). 44 Am Snuff (n). 56 Am Steel Fay (3). 71% Am Sugar Rfg (5)... 104% Am Sugar Rfg p£(7). Am Tobacco (3. 160% Am Tobacco B (3 115 Am Tobacco pf (6).. 67% Am Water Wks (e1). 146 16t Am Wou 58 39% Am Woolen pf. 9 Am Writ Paper ctfs. 15 39 AmWritPaprpf(3) & 2214 Am Zinc Ld&Sm.... 8 99 Anaconda Copr (7)..25659 43 Anchor Cap (2.40)... 68 102% Anchor Cap pf (634). 44% Andes Copper (3). 29 Archer-Dan-M (2) 85 Armour Del pf (7) 10% Armour 111 (A) 5t Armour 11l (B) Tl Armour 11l pf (7). 19 Arnold Constabl 48% Asso Appl Ind 43 AssoDry G (2%). 195% Atch T & S Fe (10).. 99 Atch T&SF pf (6. 169 AtlCoast Line 3214 AtIG & W Ind . 45% AUG& W Lpf (4).. 53% Atl Refining (12) 90 Atlas Powder ¢4). 221 Auburn Auto (34)... 5% Austin Nichols. 22% Autosales... 41% Auto-Strop Ras (3).. 210 Baldwin Loco (7). 62 Baldwin Loco (ne 115% Balto & Ohio (§) 33'a Barnsdall (32%). 20 Beacon Oll 87 Bayuk Cigar ( - 93% Beatrice Cream (4).. 73 Beecn-Nut Pack (3) 78 Bendix Aviation (2). 75% Best&CO(3)....... 8214 Bethlehem Steel (§). 116% Bethlehem St pf (7). 110% Bohn Alum&Br(t4).. 44% Booth Fish 1st pf. 831 Borden Co (3). ’ 107 Borg Warner (4)... 85 Boston & Main 30% Briggs Mfg. . 5 35% Briggs&Stratton(2). 115% Bristol Myers(14%) 39% Brockway M T (3) 38% Brown Shoe (2%). 67 Bklyn-Manhat (4) ) 35% BEruns-Balk-Col(3).. 25% Bucyrus Krie (1).... 38% Bucyrusecvpf(2%4). 22% Burns Bros B. . 62 Burr Add Mach(80c) 54% Bush Term (g2)..... 4% Butte Copper & Zinc. 6% Butte & Superior (2) 41 28 Butterick Co........ 1927 120% Byers (A M). . 37% 381% By-Products Coke... 82% 72% Calif Packing (4). 4 13 Callahan Zinc & L... 136% 123 Calumet & Ariz (10). 61% 36% Calumet & Hecla(4). 48% 43 Campbell Wyant (2). 98% 78 Canada Dry G A (5). 265% 218 Canadian Pac (10)... 388% 308 Casze (J1)ctfm(f)... 88% Cerro de Pasco (§) 32 . 16% Certain-teed Prod... 275% 195 Ches & Ohio (10) 92 79 Chesapeake Corp (3) 4% Chi & Alton 6% Chi& Alton 12% Chl Great We 38 ChiGreat West: 27% Chi Mil St P&Pac. 46% Chi M1l St P&Pac pf. 97% 0% Ch1&N W (4).. 145 134 Chi&NWopL (7). 47 28% Chi Pneu Tool....... 565% 48% Chi Pneu T pf (3%).. 142% 115 ChiRI&Pac (7).... 102% 98% Chi RI& Pacpf (6). 108% 105% Chi RI& Pacpf (7). 74% 44% Childs Co (2.40). 185 66 62% 49 City Ice & F (3.60).. 27 19 City Stores (1) 149% 120% Coca-Cola (4). 50 46% Coca Cola A (3 72% 41 Collins & Alkm 78% 656 Colo Fuel & lron. 96% 53% ColumbG & E (3 109 103% Colum G&E pf A 88% 65% Col Graph (28c). 207 121% Columb Carbon ¥ Com Credit 12). 50 6 50 195 131% Coml Inv Trust (14). 273 178% 62% 27% Com Jnv Trst war... 40 56 492% 225% Com Solvents (h3).. 10 475% 3b% 19% Congoleum-Nairn... 42 24 67 Cong Cigars (t5%). % Conley Tinfoll sta. 60% Consol Cigar (7) 22 Consol Film (2) 13 24% Consol Film pf (2).. 95% Consol Gas (3)..... 16! 96% Consol Gas pf 51 Consol RR Cui 21 Consol Texl! 12 Container Corp 47% Contl Baking A..... 0¢c). . 28% Contl Ofl of Del..... 83 Crosley Radio (31).. 18% Crown Zellerbach (1) 42% Crown Cork & Seal.. 85 CrucibleSteel (5)... 109 Crucible Steel pf (7) % Cuba Ca 49 Cua: Pa 118% Curtis Publish pf(7) 136% Curtiss Aere (1). .63 Cuyame) Fruit. 1604 120% . Del Laci % 56% Dtv& 8% Dome Mines (1). Detroit Edison (8). . Devne & Ray A (13). 47 47 10% 104 a3 43 1L 1% ... 86% Du Pont de N(t4%). Dupont d N deb (8).. Duquesne 1st pt (5) Eastman Kod (18) Eaton Axle& S (3).. ElPwr &Lt (1)..... ElPwr&Ltvf (7)., Fleo Stor Bat (5) Endicott-Tohn (5) Fing Pub Serv (11) Fing Pub8vept (5).. Fairbanks Morse (3) Fash Pk Assotk2%). Fed Lt & Tre ($11%). Fed Motor Tr (80c).. Fid Phen F Ins (2).. First Nat Stores 1%. Fisk Rubber, n 2 42 128). Foundation Ce Fox Film A (4) Freeport-T. Gabriel Snub A Gardner Motor. . Gen Am Tnk Car(34) Gen Cable A (4). Gen Cable pf (7) Gen Cigar (4) Gen Electric . Gen Elec spec (60c). Gen'l Fooa Corpn (3) Gen GAS&EL A (e1%) 108 Gen Mills (3%). 3 Gen Ry Signal (5)... n Refrac (14).... 38 Gillette Safety R (5) 139 Gimbel Brothers.... 1 Gimbel Bros pf (7).. 8 76 Gobel (Adolf). Gold Dust (21% Goodrich BF (4) Goodyear Tire (5). .. Goodyear 15t pf (7). Gotham Silk H (3%) Graham-Paigy 18 Granby Consol (7 Grand Stores (1).... Grand Stor pf (6%4). Grand Unfon........ Granite City Stl (3).. Grant WT (1).... Grt North pf (§) Grt North pf et (5) Grt NorOre (a1%).. 34 Grt West Sux (2.30). 31 Greene Can Cop (8). 30 Gulf Mo & North Gult Sta Steel (4). Hayes Body b8 % Hershey Chocola ey Choc pf (4). Hershey Ch pr pf(§). Hoe (R) & Co. . Holland Furn (e2%). Homestake Min (17). Houd Hersh B (1%). Househd Fin pf (3).. Household Pra (14). Houston Oil. ........ Howe Sound (t43%).. ‘Hudson Motor (5)... Hupp Motor (2) i Tilthols Central (7). Inspiration (4).. Interboro Rap Tran.. Intl Comb Eng (2)... Intl Cmb Eng pf (7). Intl Harvester (2%). Int Hydro El A (e2). Intl Match pf (3.20). Int Mer Marine ctfs.. Int Nickel of Can(1). Intl Paper pf (7) Intl Pap & P A(2.40). Intl Pap & Pwr B Intl Pap & Pwr C. Inil Pap & Pwr pf(7) Intl Print Ink (2%).. Inti Silver (18). . Int Tel & Teleg (3) Inter Dept St (2) Intertype (£113).... Investors Equity(2). Island Creek Coalt4) 2 51 Jewel Tea (3). o 1 73% Johns-Manville (3).. 105 191 Jordan Motor Ca 6% Kan City Sou (5) Kan City Sou pf (4 Kaufmann DS (134) Kayser J & Co (5). Keily-Spring Tir Kelsey Hayes (2) Kelvinator Corp..... Kennecott (5)....... Kimberly Clrk(23).. Kinney G R (1). Kolster Radio. Kraft Ph Ch (1%) Kresge 8 8 (1.60) SH Kroger Gré&Bak(cl. Lago Ofl & Trans Lambert Co (8). Lee Rubber & Tir Leh Port Cem (2% “Lehigh Valley (3% 59 153% 138% 108% 66% i e Minn Moline pf 6%.. s Mo Kana Teran, . 165 4% ool B Lehigh Valley Coal Lehn & Fink (3). Libbey Owens G . Liggett & My (15)... [ Liggett & My B (16). 1 Lima Locomotive. Liq Carbonfe (t4%). Loew’s Ine (2) Loft Ine Loose-Wiles (2.60) Lorillard (P) Co. Loufsiana Oll. . . LouG&EIA (1%).. Louls & Nash (7).... Ludium Steel (3). Mac A & Forb(12.85) McCall Corp (4)..... McCrory B (2).. McKeesport T P (4). McKes & Rbpf(3%4). Mack Trucks (§).... Macy (RH)&Co(ct8) Madison Sq G (1%). Magma Copper (5) Mallinson & Co. . Mandel Bros (2%) Man Elec Supply.... Man Elev mod (46).. Maracaibo Oil Exp Marlin-Rockw (t4).. Marmon Motor (4) Martin-Parry. . . Mathieson Alk (e2)., May Dept Strs (4)... 4 - : o aSumemESnama u b Miami Copper (4). Michigan St (2%) ma-c.uuunz';“a). Midiand Stl pf $10%. Miller Rubber. Minn Moline Pw: 53 Mo Kan & Tex pf(7). 10 104% 104 Missouri Paeifle. .... 2% 92 92 Missour Pac pf (5). - 1 139% 139% 139% Mohawk Carpet 125 7 654 6d% 64% Mont Ward (3%).... 654 117% 114% 115 . Close. Close. 345 345 350 47 10% 44 Mullins Mfg Murray Corp 1 Bella Hess($1). 1 Biscuit (+614).. Natl Biscuit pf (7). . 5 Natl Cash Reg A (14) 63 Natl Dairy(c1%) 111 Natl Distilters. . . Natl Distillers pf(7). Natl Lead (5).. 3) N Y Air Brake (3 N Y Central (3) NYChi&StL (6).. Norfolk&Wstn(110). 90% North Am(bi0%stk) North Am pf (3 Nor Ger Lloyd (3. t (5 Norwalk Tire & Rl Oil Well Supply. Oliver Farm Equl Olivr Fr Eqpf A(6). Olivr Fr Ep cv pt(3). Omnibus Corp. Omnibus pf A (8) Oppenheim Col (5).. Otis Elevator (6) Otis Steel...... Pacific Gas & E (2. ific Lighting (3. Pacific Oil stubs. Packard Motor (1! Packard Mot ( Paramount-F-L (3).. Park Utah (80¢). Pathe Exchange A. Patino Mines (3.89) Peerless Motor Car. Penick & Ford Phelps Dodge (3) % Phila Co 6% pt (3). Phila& Read C&I.. Pierce Oil. Plerce Petroleum Pillsbury FI (121) Pirelil Co A (2.88). Pittsburgh Coal. Pittsburgh Coal pt. Poor & Co (12)... Proctor&Gamble(3) Prod & Refiners. Pub Sve NJ (2.60). Pub Sve NJ pf (6). Pub Sve NJ pf (7). Puliman Corp (4) Punta Alegre Sugar. Pure Oil (1%). Purity Bakeries Radio Corp.... Radio pt B (). Radio-Keith-Orph A Reming-Rnd 1st ( Reming-Rnd 2d (3) Reo Motors (11.60) Rep Bra Rep Bri B Rep lron & Stl (4). oy! Richfleld Oil (2) Rio Grande Oil ( Ritter Dental (23%) Royal Bak Pwdr(1).. Royal Dutch (a3.20). Safeway Stores (3) St Joseph Lead (13 Scott Paper (31.40. Seaboard Air Line Sears Roebek (32%). Seneca Copper. ... Servel Inc - Sharon Steel H (2).. Sharp & Do pf (3%). Shattuck F G (2) Shell Union (1.40). Shubert Theater (5). Simmons Co (3) Simms Pet (1.60).. Sinclatrofl (12%). Sinclair Oll pt (3 So Porto R Sug 12%.. High. Low. + 79 124 138 3 Sout! Splct U 8 8t Yellow 4% 173 Div 8t cash payments based taration. 4% 1n stoc! ble in stock. stock. VPlus 8% In % 63% Southern Cal Ed (2), Southern Pacific (6). Southern Rwy (8) Spalding A G (1.60 Sparks Withington. Spencer Kelg(1.60).. 434 Mfg . 524 9% Stand Com Tob (1).., 2 Stand Gas & El (314) 186 StandG&Ept (4).. 2 Stand Of1 Calif (t3). 102 Stand ONI N J (12) Stand Of1 Stand PlateGlass... 2 Sterling Sec (A).... 19 Sterling Sec pf 11.20. Stewart Warnr(33) Stone & Webster. 3 Studebaker (35) Submarine Boat Sun Oil (g1). Superior Of Superior Steel Symington A, ‘Tex Gulf Sul (4) . ‘Texas P C & Oil (bb) ‘Texas Pac Land Tr.. 157 Thatcher Mfg. ... 4 ‘Thatcher pf (3.60)... The Fair (2.40). Thompson J R ( Tide Water Asso . Tide Water Ofl(80c). Tide Water Oil pf(5) ‘Timken Det Ax(80e). ‘Timken Roller (3) ‘Tobacco Pr (1.40) ‘Tobacco Pr A (1. . Tob Prod etfs(1.40) . Tob Prod ctfs A 1.40. Transcontinental. Trico Prod (23%). ... ‘Truax Traer (1.60).. ‘Truscon Stl (11.20).. TwinCity Rp T (4). Underw-El-Fish(4). 15 Unton Carbide(2.60) 1106 Union Oil Calif (2).. 6 Union Pacific (10) 31 Union Pacific pf (4) 2 Utd Aircraft&Trans. 237 Utd Afrcraft&T pf 3 b Utd Biscuit (1.60)... 11 United Carbon Utd Cigar Stor Vtd Cgr Storetfs(1). 1 Utd Cigar 8t pf(6).. Utd Corporation. 890 Utd Corp pf (3)..... Utd Electric Coal(3) Utd Fruit (e4)...... 17 Utd Gas & Imp (1).. 683 U S Distributing.... 8 U S Distribpf (T)... 2 U S & Foreign Secur. 15 1S & For Sec pf(6). 1 1nd Alco (6).... 13 Leather. .. U S Steel (7)... Univ Pipe & Rad.... 10 Utl Pwr & Lt A (e2) 220 Vadsco Sales. . Vanadium (14)... Vick Chemieal (4) Virginia-Car Chem.. 12 Virginia-Car 6% pf.. 1 39 Wi i Walworth (1.20).... ‘Ward Baking B. ... ‘Warners Bros P 13% Warner-Quinian (2). Warren Bros (15)... arren Fdry & Pipe ess Ol & Snow(2). Wess O & Sn pf (4).. Westn Dairy A (4).. Westn Dairy (B).... &fullrl Maryland. . Western Pacif pf.... Western Union (3).. Westngh Air Brk(2) Westngh E1&M (4).. Wilcox Rich B (c2). Willys-Over (¢€1.20). Wilson & Co A Woolworth (2.40)... Worthington Pump. Worthington B..... Wright Aero (2) Wrigley Wm (4) Young Sp&W (12%). Young Sheet & T (5) 40 Zenith Radio (2).... RIGHTS EXPIRE Col Gas&El. .Aug 1b 490 1% Gen Cigar rights.... 30 4% Macy Ce Mont Ward..Aug 26 155 4% Stand Gasrts Aug.31 158 1 Transcont Oil rts. 4% Utd Corp.....Aug 16 538 Sales of Stocks on New York Exchange. « 2.859.600 es_as given it of trading less than 100 shares. AVnock: ‘fBis 83 in Dreferrad Y this jear—no regular ra T3% 140% 148 5% | 4% 5 66 73% 73 141 148 'n Ry pf(5) % 17% 137% 64% 2% 60% 38% 4% 30% 15% % 67% 165 1264 Y (1.60). 400 .13 (1. 13 pL (7). 11 68 ! 05y | Truck & C: .. ‘o rights. 1949 5% 709,600 12:00 Noon. 2:10 P. M. in the above tal on the latest quarterly or stock. i o 'Plus 3% 1 stock: Baltimore Markets Special Dispatch to The Star. August 14.—Po- tatoes, white, 1.258.4.75; 100 pounds, 2.25a2.75; sweet potatoes, bar- rel, 2.50a6.50; beets, 100, 3.0024.00; beans, bushel, 75a1.50; cal , ham- per, 1.25a1.50; carrots, 100, 3.00a4.00; celery, crate, 1.50a3.25; corn, dosen, 15825; cucumbers, bushel, 60a75; egg- 581.00; lettuce, crate, 3.00a5.¢ lima beans, hamper, 50a90. onions, hamper, 90al.15; peppers, ham. per, 20a35; peas, hamper, 125a2.00 squash, hamper, 15a35; tomatoes, ham- per, 20a35; canners' stock, bushel, 90; apples, bushel, 1.00a2.25; cantaloupes, hamper, 15265; blackberries, quart, 12a 14; huckleberries, quart, 15a20; peaches, hamper, 25a75; watermelons, 5a40. 2,511 cases; native 35a36; current Te- | Ca hennery whites, 36a40. to fancy Hay and Grain Prices. ‘Wheat—No. 2 red Winter, spot, 1.34; garlicky, spot, 1.28% lmzdium, 11.50a12.25; common, 9.50a 11.00. Heifers: Choice, 11.50a13.00; good, 10.50a11.00; medium, 9.00a10.00; common, 17.00a8.50. Bulls: Good to choice, 9.50a10.00; fs 9.00; common to medium, 7. .75. Cows: Good to choice, 9.0029.50; fair to good, 8.00a8.75; common to medium, 5.00a7.50. Sheep and lambs—Receipts, 500 head; fair supply, market lower. Sheep, > g Raceints, 150" head 1ight sup 0gs—! 5 ght sup- ply, market lower. Lights, 12.85; heavies, 11.50a12.25; medium, 12.85; roughs, 7.75a10.15; light pigs, 11.75; pigs, 12.60; trucked 15 to 30 lower. Calves—Receipts, 50 head; light sup- ply, market steady. Calves, 6.00816.50. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Bid. Ofier. Allis-Chalmers Co. §s 1937 991, A e o o Aner. 5 108, 10044 ATcbur & G0 of Dershas. FH faore. & Ofto 4vis, 1983 1 100% 9% 9% 34 L 822823 * ¥ 3832y ‘Wheeling lu:'llgwcr.i B8 FOREIGN EXCHANGE. (Quotations mm’x'aed "lw.!llbhtfi’- checks (orper). today. 948. 99% “INSIDERS” DECEIVED ON VALUE OF STOCKS Special Dispatch to The Star. NEW YORK, August 14.—One of the | most remarkable features of the present | bull market in stocks has been the in- ability of the so-called “insiders” to | accurately measure the market value of i the shares of corporations with which they were identified. Scores of instances have come to light | of officers and directors of manufactur- ing concerns, public utility companies and railroads, who have sold out their holdings of stocks and advised friends not to buy tnem because they could not see where cutrent prices were justified on the bases of earnings or future pros- pects. Many such sales have taken place at price levels from 100 to 200 points below those now prevailing. A striking illustration of how .far wrong ‘“insiders” sometimes go was brought out yesterday when the stock aof the Crocker-Wheeler Electric Manu- facturing Co. advanced aearly 75 points to 474 after closing Monday at 400 with 1o offerings then under 450. 1In 1928 this stock sold at 27. By the end of the year it had gone up to 150. When it reached that figure some of those identified with the company sold their stock and thought they had shown excellent judgment in doing so. GERMAN BONDS AND STOCKS. NEW YORK, August 14 (Special).— Bid. Asked. Ger Govt Red Loan with drawing ctfs attached per 100 R M 60.00 r Govi Red Loan without drawing ctfs per 1.000 R ke in dolla; (EEE euBRS B 8 $3853583 3 B2 owd usunt 8% 2ausknt ok 23128322283238" oBaSAVYILRSES wBB o 2322283232233 Lug3suss IN PROFIT TAKING Leaders Feel Effect of Heavy " Realizing as Advance Slows Down. BY STANLEY W. PRENOSIL, Assoclated Press Financial Editor. NEW YORK, August 14— “bull” movement, whieh by beenmu:dx“id way in some of the high-priced in- dustrials and rafls since last Friday's drastic break, showed signs of slowing up today under the heavy selling in- spired by fears of another large in- Reserve brokers loans . A sprinkling of issues, in- cluding United States Steel common, General Electric, Westinghouse Electric and Consolidated Gas, were whirled up 8 to 16 points to new high records in the early trading, but sagged 215 to 61 points below their highs in the early afternoon selling movement. Favorites Lose Ground. Meanwhile, the rapidity of the recen advance induced helvy’ profit hkln: and some short selling in other stocks, glving the general list an irregular ap- pearance. At least a score of the re- cent favorites dipped 2 to 8 points be- low yesterday's final quotations. Sev- eral of the large commission houses urged extreme caution in the making of new committments, and thus tended to bring in selling from small traders and investors throughout the country. Credit conditions showed signs of further relaxation, despite the bullish stock market activity of the last few days. Call money renewed at 7 per cent, as against 8 yesterday, and dropped to 6 in the early afternoon. This was the first time in six weeks that call money been quoted as low as 6 per cent. Time money rates also were shaded slightly. Manwhile London cables an- nounced the shipment of more than $5,000,000 in gold to New York. Wall Street figures that each dollar in gold provides the basis for $10 in credit. Revival of activity and strength in the oil shares, presumably based on ‘he reduction in crude output reported last week by the American Petroleum In- mlAuu,nwu oge of the day’s features. merican Can went up 7 points 1702 and New Haven upp 3 m?o’:‘. both new highs, before the entire list turned downward in the last hour. Westinghouse sold 9', points below its early high, General Electric 8 and g;:‘l:;ldflsllles Stmé 6. Union Pacific, losed yesterday at 280, 10 270. The close was helv‘; e o Strength at Opening. Prices made further _recovery the opening. P:ramoum-hmo\u-i.u;: opened with a block of 12,000 shares at 70%, up 35; Consolidated Gas with a block of 9.400 shares at 166%, 3'4, both new high records. General Public Service advanced 2 points and initial gains of a point or so were re- corded by General Electric, American Can, Sears Roebuck and Simmons Co. United States Steel common opened un- changed 237, and then advanced fractionally. Led by the high-priced industriais and specialties, the market gathered strength as trading d, with several issues breaking into new high ground. Wall Street. was encouraged by the lowering of call money rates yes- terday, although some selling came into the market from .conservative traders on the theory that the weekly state- ment of Federal Reserve brokers' loans might show a substantial increase. Westinghouse Electric soared points to 250, General Electric 8! to 397, Consolidated Gas 612 to 170, and United States Steel 8 to 245, all new higx Tecords. arren Bros. ran up nearly 4 points, American Power & Light 3%, and early gains of 2 points or more were recorded by New York Central, Norfolk & West- ern, American Can,’ Allied Chemical, Houston Ofl, May Department Stores and Fox Films. At least a score others, including Atchison, American Tele- phone, Kennecott Copper and Westing- house Air Brake, advanced a point or so. INDICTED IN FRAUD CASE. NEW YORK, August 14 (#).—Milton C. Quimby, promoter. and Louis W. Cutler, former secretarv of th~ Private Bankers' Association, were indicted by the Federal grand jury today for ma.l fraud in connection with operations of Clarke Brothers’ private bgnk, which recently failed for $5,000,000. Thomas P. Hickman, vice president of the Franklin National Bank, is on vacation in Maine. Carroll Morgan of the local office of G. M. P. Murphy & Co. will go to Skuland. Va.. for the week end. J. William Harrington of W. B. Hibbs & Co. will soon go to Atlantic City on vacation. @ Third of a Century's We Have the Organization Necessary ——for the complete and com- petent management of prop- erty—especially apartment houses. Owners will find they are making a profitable invest- ment when they employ our service. B. F. SAUL CO. Nat'12100 925 15th St. N.W. Zk;nnouz:e Et::: removalof our ice from t! onds Building to ground floor space in the new SOUTHERN RAILWAY BUILDING 922 Fifteenth Street, N. W, Direct communication facilities by wire with our main office in e center of financial New Yeork provide a ready means for the rapid transaction of New York banking business. THE EQUITABLE - SECURITIES A subsidiary of The Equitable Trust Company of New Tork STANLY CARR, Representative WASHINGTON, D. C.