Evening Star Newspaper, August 23, 1929, Page 15

FINANCIAL [ ov o BONDS ez |WARNEPRODUCTS [BUSINESS DEPENDS BOND PRICES GAIN INAGTIVE MARKET International Telephone Fea- tures Advance—Some Issues Irregular. BY CHARLES F. SPEARE. S#oceinl Dispatch to The Sta: NEW YORK, August 23.—A spectacu. Jar advance occurred today in Intern tional Telephone 41ss. Starting 2 points higher, they showed a net’ gain of 10 points by midday. In the past two weeks they have gained 40 points | A and are nearly 100 points above their low of the year. On this last rise the spread of between 30 and 35 poin's be- tween them and American Telephone 4'zs has been reduced to 10 points. It is not difficult to see why the pub- lic refuses to buy mortgage bonds at the present time when it can make such large and speedy profits in the debentures of the companies of the highest credit standing. 2 American Telephone 4';s followed along after the International conver- tibles to the extent of several points. Southern Pacific 4';s showed more life at a higher level. This was true of Kreuger & Toll 5s, which were active above 102. ‘The refinancing announced by the Commercial Investment Trust has been reflected in the rise of nearly 20 points in th® convertible 535, which made a further gain tod: and then reacted. American International 5':s and Philadelphia & Reading 6s gained about a point each. California Petro- leum 5'; were also strong. Unfor- tunately for the bond market there are few good oil company convertibles to reflect the present bullish attitude of the Street on oil stocks. Miscellaneous issues showed an ir- regular trend. The Fisk Rubber 8s were heavy again around 90, which ‘would indicate a more serious condition in the company than the balance sheet suggests. Further time has been granted the holders of the Cuba Cane Sugar debentures to deposit them Cement Prices Reduced. NEW YORK, August 23 Alpha Portland Cement Co. h: Te- duced prices of cement 20 cents arrel on Hudson River base and 30 cents & barrel on Lehigh Valley base. Washir;gton s.tock Exchange SALES. Georgetown Gas 55—$1.000 at 100. Washington Gas 55s—$1,000 at 100%, $1,000 at 100 4. Potomac Elec. 6% pfd.—1 at 113. Potomac Elec. 5!,% pfd.—>5 at 107%4. Washington Rwy. & Elec. pfd.—9 at 98. Commercial National Bank—20 at 280. District National Bank—5 at 225. Columbia Sand & Gravel pfd.—S5 at 88. Mergenthaler Linotype—20 at 1043, 10 at 104%, 10 at 1043, Peoples Drug Stores pfd.—10 at 122! 10 at 122, 30 at 1211, AFTER CALL. ‘Washington Loan & Trust Co.—3 at t §35. 535, 2 at £35. W;shlngtun Rwy. & Elec. 45—$1,000 at 6. Washington Gas 5+—$1,000 at 100%4. Georgetown Gas 55—$1,000 at 100. Anacostia & Potomac R. R. guar. 5!—1 $4.000 at 94. Anacostia & Potomac R. R. 55—$1,000 | at 87, $4,000 at 877, H Cfllnflnenlll Trust Co.—5 at 135, 5 at 35. Columbia Sand & Gravel pfd.—10 at 88, 40 at 88. ; National Bank of Washington—1 at 308. Capital Traction Co.—20 at 93, 20 at 315, UNLISTED DEPT. Departmental Bank—1 at 10, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga & Anacostia & Pot . & P. Tel. of Vi Capital Traction R. R. City & Suburban 55. Georgetown Gas 1st'53. . Potomac Elec. cons. 5% . Potomac_ Elec. 6s 1953 Wash., Alex. & Mt Wash, Balt MISCELLANEOUS. Barber & Ross, Inc.. 8!us . ‘Hotel 63, STOCKS. PUBLIC UTILITY. 24 Seecond’ National Bank of Washington. . TRUST COMPANY, American Security & Trust Co. 453 Merchants' Bank. National Savings jon Trust. . Washington Loan & Trusi BAVINGS BANK. Bank of Rethesda Commerce & Saying Fast Washington. i S 3i0 Beennity Savings & Commercial 821 305 300 enrity S AT American Coreoran Firemen's Union Fational TITLE INSURANCE. Columbin Title, Res! y:l;’l‘; Titfe: e cons Titte pra- MISCELLANEO! | Bolivia 8s. B (#).—The | v | Vienna 6552 | Beth Steel 6125 53 Received by Private UNITED STATES. (Sales are in $1,000.) Sales. High. Low. Lib3%s... l Lib1st4%s 9 993 97 12 9712 129 10016 375 1028 3L 107 FOREIGN. Sales. High. Argentine¥sJu 69.. 8 100 Argentine §58 Oct 59 ;1 Argentine May '61.. & Argentine Argentine 6s A. Argentine 65 B Australia Lib4th4%s US3%s4s, US3Ra4T. 3%s... 48 1944 43852, 10012 100 16 1032 1038 10624 107 s 8 S s 1 1 v Low. Close. 99% 100 % 9% 94l 94l % 9ty 94y 1034 103% 96 96 7% 97 & 100% 100% 405 108 107% 108 105% 108 14% 115 109 109% Boh B4l 98% 984 100% 100% E 890n 804 83k Y3 9% 10513 105% 99ia 100% 100'5 100% 102% 102% 20 90 91 91 100% 100% 36 36 99% 9% 974 85 86 9% 9% 101% 101% 109 109 1095 10974 1o 86 ia T8 Bank of Chil Rank of CI Belgium 6s Belgium 6% Belzium 78 1955 Belgium 78 1956 Belglum 7158 Belgium 8s. Bolivia 75 ct 69 e 1s w0 ERLUT TS i SO Canada 581931, Canada 58 1952, Chile 65’60, Chinese Gov Ry Christiani (olombia 65 Jan '61 on Pow Japan 7s. . Copenhagen Copenhagen 58 ct. 9% 9l T 1 Dauish Mu Denmark 41y Denmark 5'ys Denmark 65 DEL blgs Mch Duteh East 1 6 Kiat is war "46 Fiat 7a x war "46 Finland 53 s Framerican French 7s. French 7 German E1 P 6%s German 7s. . German Bank 6s '3 Ger Gen Elec 7 Greek 6s 1963 Hungary 7% Irish Free State o T e N L TP T 103 1031y 103% 103% ‘s 10 121% 121% 9l e 112 111% 1127 90% 90% 90ty 106 105% 105% 858, 102ty 100 958 cardte 5a. @ - Japanese 6 .13 : K Kreuger&Toll 53 ct.385 101% 101% .12 100' 100t 86% 86% 106% 10¢ 9l 921 92ia 924 101 103 945 94y 99% 999 4 1021 1020 102 102 102% 102% 99% 99% 1021 10235 95% orway blzs orway 6s 1943. . w 102% 995 103 0% S oh-Runoaro Paris Orleans 5% Peru 68 1960. Peru 65 1961. ERseqne Queensland 7 Rhine Wst K| 2 Phine Wst E P 63 63 Rio de Janerio 6 Rio de Jan 85 194§ Rio Grdo Sul 68 48. Rio Gr Do Sul §s... Rome 6s...... San Paulo City Sao Paulo 1950 Seine 75 42, Serbs Cr Sla Serbs Crot Sl Sweden 5138, Sweden 65 Swiss 538 194 Swiss Confed 8 Tokio 5338 196 5 Utd Kingm 513837, Uruguay 65 1960... 26 uguay 8s 82 ¢ 1054 1054 ! 8% &I 108% 108% 1025 1025 1075 10 3% 17 851 86y 103 103 103 103 104 104% 108% 109 weumma T Paraoe—— 1 Warsaw 7s Yokohama 6s Z 9015 MISCELLANEOUS. Abram&sStraus5is 7 111 110 Alleghany Cp 5844 14 108% 108 Alleghany 5s 49 wi. o2 109t 109% 108l AmChain6s’33.... 8 98 9ia 97is Am Chem 5338cv 49 36 119 118'% 119 AmIntCor54s49.216 114 112'4 lll'/o| Am NatGas 613842, 23 78% 78 78 Am Sugar Ref 63 1104 104 104 AmSmit& R1st5s. 2 100% 100% 100% Am T&T cv 4133 39.1758 217% 212 215% AmT&T cltr AmT & Tstbs Am Tel & Tel 5 W 90% 111 108% | Am Wrtg Pap 6s 47 Aromur&Co4 13839, Armour Del 5128 Atl Gulf 58 59 Atlantic Refin Bell Tel Pa 55 C. Bethlehm Stl pm 5s. 11 5100 100 103 T 103 Bethlehem Steel Com Invest 533 m Invest 65 '48 Con Coal Md 58 Con Gas Consumers Pow Cuba Cane 85 Cuban Am Sug 85 Det Edison 55 40. Dodge 65. . Duquesne 4%s 67 Fisk Rub 88, ...... Gen Asphalt 6 36. . Gen'Cable 5148 47.. Gen Mot Ac Cor 68. Goodrich 6138, Goodyear b8 rets Hoe & Co 6145, Humble Oil Humble O & R 111 Steel 4168 40. 104% 104% 100% 100% 5% 58 9% 99% 100% 100% 100 . 100% 96% 96% 89% 89% 107 107 96% 96% 101% 101% 107 ~ aheli=a whawoernEn 0 Intl Match Int Mer M . Int Paper 68 47....0 Inter Paper 6s. 2 88 88 88 Int Tel&Teleg 4%.. 17 90 90 90 Int Tel&Tel 4% 8 cv 1102 207% 196 207 KanG & E6s52.... 16 104% 104 1043 « 100 100% 86 86 *gx dividend. - Unlisted 'D;plrtment. BONDS. -Nave Club Ss.. %‘u’wfl Sl 4" it mmereial Club 15t 55, S T8, eiropolitan G . lnl.l Co. Kendall5%s 48 war. 3 924 92 92 . 1100% 100% 100% 1103 103 103 29 99% 99 29 6 100 % 99% 1118 118 118 1 108% 106% 108% Lautaro Nitrat Ligget&Myers bsbl Liggett & Myers is Loew's Inc l.oew’s 68 W 0 war. Lorillard (P) s... Lou Gas & El 58 52, d Steel 5s. Montana Pow 58 43. Mor's&Co 1st 4%s. 1 8% 82% 8% 11 96% 96 95 2 47T 46 a7 6 111% 111% 111% 2 90% 90% 7 107 105% 107 6 110% 110% 110% 26 100% 1004 100% 3 104% 104 104 13 100 100 100 7 101% 101 101 29 1094 108% 109% 8 0T% 9% 97% 371 10 15 96% 96 96 29 111 110 110 9 89% 89% Paramount 6s Pathe Exchange Phila Co 58 6’ THE EVENfNG STAR, WASHINGTON, D. ¢, FRIDAY, AUGUST 23, 1929. Skelly Oil 5%n Southwest Bell Stand OII N J Utah Pow & Lt bs. Utilities Powr 5% Vertientes Sug 7s.. Y Walworth 6 ‘Warner Sug Warner Sug 7 West Elec Westn Unl, Westn Unlon Vhite Kagle Wilson & Co Youn, As&SK cvt 48 05. .. Atchizon gen Atch deb 4148 43 Atlantie C L Atlantic C B & O Gold rf imp B&OSW bs Bang & Aroos 4s 51. Brooklyn Ele Bklyn Manhat 6s. .. Boston & Maine 5s. Buff R & Pitt Bush Term con 6s.. Can Nat 4438 Can Nat 4% nNatdias Pac4%s Car Clin&Ohio 68 52 nt of Ga b Cent Pac 4s. Ches & O Cor Ches& O cv 4 Ches & O gen Chi B&Q gen CHB&EQ ISty CB&QIIR! Chi Gt West 45 ChiM&SIP41s 5! Chi MiISP&P: CMSP&Pac a Chi Un Sta Chi Union Sta Clev Term bs Cuba R I 65. Cuba RR 7% ;| Cuba Nor 53 | Del & 11ud 5%4=. Den & Rio G ¢ Den&RioG 4 D Rio G Wes Erie Gen 48 iecv 5, Erie & Jersey 6s Fla East C 55 Fonda J&G 4 Gt Nor gen s Hav ElIRy 51 Hud & Man aj 55 | Hud& Man ret 5, 1111 Cent r8f 4s. 111 Cent 45 53 11l Cent 43,5 66 111 Cent Chi 4 11-C-C-StL&. tnS & 1 101% 101% 101 lfli 93% 9. 1047 104% 103 103 102 102% ol 9y 86 86 100% 100% 109% 109% 97h 974 0% 90% 3 99% 99% 66 66 99'4 100 102 102 101 10! 107% 107% 101 101 99% 100 99 994 High. Low. Olose. 1 9L 9 835, 39, 7s41..i20 1 8% 05% 13t 6 T 89 89 0% 0% 1561 186 9lla 9l 93% 94w 89’ 89% 964 96 9915 9915 99% 100 101% 1014 107% 108 100% 100% 80 80 8ity S0 054 86!y 3% 99% 4 st4s. 1 434564 30 5 6s. 50. v6las, - 4% 0. 68. s 91 110% 110! 2% B 96 96 106% 106 95% 9% 90 Y& = e 6. C 59. . e R T T Rt S EE PP S PP TP SO) PN pn AN .. 4 99'y £ 2% —an dj. 103 103 100% 100% & 100% 100% 10614 10615 94l 94ty B3y B5'y 8949 995, 78 T8 102 102 100% 100% B8y 89 9z 924 894 By KR 92 94 106'% 106in 65's + 66l 2 28 103 103% s scts.. n 4 2536.. 3 L5s 2 7. 1as » CumamaRaBam—n na-nat, as 5 r kK NO 58 Int Rapid Trans 53 Int Rap Tr 58 Int & G Nor 1 Int & G Nora Int RysCA 5 stpd st 68 dj 63 Kan City Ft S 4 Kan City S 3= Leht Valen 4 LehiVigen 4 Long Isrf 4 Louis & Nash 7s. . | Man Ry 1st 45 90. .. Mill Kl Ry&L Mil EI Ry & L 53 61. 15 Minn & StL ref 4s.. 10 M StP&SSM ¢ StP & SSM MK&T4sB MK&T prin MK &T adj 5s.... Mo Pacific ge Mo Pac 55 A 6 Mo Pac 53 F Mo Pac 55 G Mo Pac 5148 4 NOT&MS5Ys N Y Cen deb 4 N Y Crtim4 N Y Cenrt bs NY C&StL 4%s C.. NYC&SL5%sA. \ew Haven 3 NYNH&H NYNH&H NYNH&H NY NH&H ev N Y Ont W Ist 48 N Y Ry 65 65. NYRy6sAS6 Norfolk & W cn 4 Nor Pac 4s. Nor Pac 4128 Nor Pac rf 6s Ore S Ore Short L c; Ore Wash 1st Penna gen 418 ?| Penna 4% s 63 Penna gen bi Penna 58 64 Penna 6138, Penna gold Peo & K1t 4 PCC&StL 5 Reading gen 4135 A Rio G W 1st ¢ RIArk&L 4 StL IM&S gn StL IM&S R&G SIL&SKFplas A StL&SF 4 % StL&SFpr StL S W con 4s32.. SIL S Whab2... StP & KCShL Seab AL 4s st Seab AL ad) 58 49.. Seab AL con 6s. SBAIlFlaésds A, Sou Pac ret 4 Sou Pac 4%s Sou Ry gen 4s. Sou Ry €on 58, Sou Ry 68 56. Term Asso St L Texas & Pacific 1st. Tex & Pac b8 Tex & Pac bs Third Ave ref 45 60. Tol Tr L&P § Union Pac 1st 4s... Union Pac 4% 67. Un Pac 1st re Virginia Ry 1 Vy Ry &P b8 Whash 4387 Whash 58 76 B. Wabash 1st b Whash 6158 W Wilks B& E 1 e o ort Lrf 4s | Kansas City § Kan City Term 4 Lake Shore 4s 31 6 9% 8212 934 85 100 54 98 9915 21 96% 8215 934 Bds 100 51 98 995 el 87 87 ¥ 49 B0 80% 5. s tdias, cn 4s. . 6las. 4 8 S5 AL 103 1% 96'y 103 % 96!y n 4s 9evt, Ree ma 100% 100t 94ls 948, 95'a 103 5 ELD 103% s %854, 45 56, 4%s.. cltés. db 65 5 8815 8813 B4 4%, S0k 90% 1098 109% Y9k 99l 1001 100% 2047.. n 4s. 95 95 104% 104% 101 @ = s B75. et %s... 5831, 8 In b 4% a. 69 ww B 1977 C19.. £ NDBNNREUTOR AN AN S AN KA CO KWWK A T C OO C Ao O N RO WS AW A B h 145 30, 93% 9% 95% 95k 105 105 100 100 100% 100% 84 st 91 94 100% 1004 i 101% 101% 93 93 95% 95% 61% 61% 58, st bs. ret. st bs. 6% COMMODITY "PRICES. By the Associated Press. Pricé movements last week were mod- 11 100% 1005 100% | erately downward, as the out against sus Bureau com of all comm: comparable Calcuistions. tions. The following give the index for prices odities, using 1926 average levels as 100, and the per ton cost of steel products: composite ek ending August 17. me week last Jear Steel. 336,53 36.80 3489 1001 e e 0% Autos Crash, Five Persons Drown Tressed 811 Car §8. Rem Rhd 535 war. Sinelair O11 68 Sinclair Ol 6% Sinclair O} 7 , Sinclair Crude § 48. 42 b 17 s 97% 22 102% 101% 101% 3 e 96! collided from the near 90 | MONTREAL, Quebee, August 23 (. 974} _pive drowned hére late yes- 98y terday aftermoon after their automobile Tosd another and careened into the Soulanges Canal 99% 994 | 9ot | “|- Watermelons — Supplies liber: INACTIVE DEMAND Buyers Find Varied Assort- ment of Finny Tribe at D. C. Market. Retallers and consumers were oh hand at Municipal PFish Market this morning, registering their usual Friday morning demands fer marine products, and wholesalers were amply able to meet all demands, having plentiful sup- plies of numerous varieties of receipts from the Chesapcake Bay and tribu- taries and from points along the ocean front as far north as Boston. Continued warm weather resulted in & demand for both soft and hard crabs, dealers reported, and crabmeat also was in demand. Hard crabs were plentiful, selling around $3.50 a barrel, or 75 cents a dozen, the soft crabs, not so plentiful, bringing 75 cents and $1 a dozen. Demand Is Brisk. Swordfish, salmon and halibut, all steak fish, were among the fish in greatest demand, the swordfish selling at 35 and the others at 25 cents a pound. Croakers and small trout, cheapest fish offered, were quoted at 5 cents & pound, big trout selling as high as 15 cents. A continued firm condition of the butter and egg market was mentioned in this morning's reports, egg prices showing a tendency to advance, = But- ter prices were unchanged. Strawberries from the Eastern Shore of Maryland, raspberries from New Jersey and huckleberries from Southern Maryland were among displays in the fruit market to attract attention this morning. Strawberries and raspberries in_ pint boxes, were not much in d mand, while huckleberrie: boxes, found ready sal berries sold at 15 and 20 cenls a bux, while the raspberries, not in such good condition, sold at 10, 15 and 18 cents. Recelpts of peaches continued heavy, prices being about the same as the low prices quoted the past few days. Apples also were plentiful, as were sev- eral varieties of grapes. Cantaloupes also continued in fairly heavy supplies, plenty homegrown stock being offered the retail trade. Turlocks, from Tur- lock County, Calif., first of the season, received yesterday, were quoted at $2.75 & crate. The homegrown stock sold at 181 and $1.25 a basket. Tomato prices took a decided drop | this morning, dealers selling good stock 1as low as 50 cents a basket, 75 cents and $1 being the highest prices asked for top quality tomatoes. Dealers said th expected prices tomorrow will be still ‘cheaper. Lima beans also continued plentiful at $1.25 and $1.50 a bushel, stringless beans selling at $2 and $250. New York lettuce, more plentiful, sold at $2.50 and $2.75 a crate. Squash and small vegetables were offered at prices { quoted most of the week. | ~ Business this morning was not par- ticularly brisk, according to reports, and exceptionally brisk trading is not ex- pected until after the close of the va- cation season. Further advances in ithe price of Spring chickens was the feature of the day's poultry market, Today's Wholesale Prices. Butter—One-pound prints, 45; tub, 43',a44’,; store packed, 28a30. Eggs—Hennery, 40a42; fresh selected, 38a40; current recelpts, 33a3i. v, alive—Turkeys, nens, 35 toms, 33; Spring chickens, large, 32a34; medium, 32; small. 3 2 i —Turkeys, 38a40; Spring chickens, 26; ducks, 28a3 3 .00, | Meats, fresh killed—Beef, 241%; veal, 28; lamb, 30; pork loin, 34; fresh hams, 130a32; _fresh shoulders, 32: smoked | hams,’ 30a32; smoked shoulders, 20a22; bacon, 28a30. Lard, in bulk, 15; in | packages, 16. Live stock—Calves, 14;a15; lambs, 13. Fruit and Vegetable Review. ‘The daily market report on fruits and vegetables (compiled by the Market News Service Bureau of Agricultural Economics) says: (sales to jobbers ex- cept where otherwise noted). mand moderate, market stea East Shore, Md., Jumbos, all sizes, 1.50a1.75; few high as 2.00; standards, all sizes, 1.00a1.50; flats, all sizes, 75a1.00; Cali- fornia, Imperial Valley, Jumbos 36s and 458, Salmon Tints, 3.25a3.50; Colorado, standard flats 12s and 15s, Salmon Tints and Hearts of Gold, mostly around 1.00; Jumbo flats 12s and 15s, Salmon Tints and Hearts of Gold, mostly 1.25; mis- | cellaneous melons, suppiies very ' light, * | too few sales to establish market. Lettuce—Supplies liberal; dem iight, market steady; California, crate: Iceberg type, 4-5 dozen, 4.0024.2! quality and condition, 3.00a3.75; Colo- rado, crates, Iceberg type, 4-5 dozen, best, mostly 3.50; few higher; ordinary quality and condition, 2.00a3.00; New York, 2-dozen crates, Big Boston type, 90a1.00; mostly 1.00. ight; demand light, ly; New York and | Massachusetts, 100-pound sacks yellows, U. 8. No. 1, medium to large size, 2.65a 2.90; mostly 2.75. Peaches—Supplies hi demand moderate, market weak; all States, bushel baskets, Elbertas, U. S. No. 1, large size, 1.25a1.50; medium size, 1.00a 1.25; Pennsylvania, Maryland, bushel baskets, Belles, U. §. No. 1, medium to large, size, 1.50a1.75; few Hales, fine quality and condition, very large size, 2.50. Pears—Supplies light; demand light, market dull} ifornia, boxes, Bart- letts, fancy, 3.00a3.25. Sweet potatoes — Supplies moderate; demand slow, market dull; North Caro- lina, cloth-top barrels, yellows, No. 1, mostly around 5.00; some small size, 4.00a4.50; FEastern Shore. Maryland, bushel hampers, yellows,” No, 1, 1.50a 2.00. Potatoes—Supplies moderate; demand moderate, markét about steady; Vir- ginia, 150-pound sacks Cobblers, U. S. No. 1, 5.40; Pennsylvania, 150-pound sacks Cobblers, U. 8. No. 1, 5.25. & e- mand moderate, market steady; East Shore Maryland and Western Shore Virginia, various varieties, selects, 40a 50; primes, 20a30 each; few truck re- ceipts, 40-50 pound average, 70a80 each. String beans — Supplies liberal; de- mand moderate, market slightly weak- er; Eastern Shore Maryland, bushel hampers, green, mostly 1.50; 5-peck hampers, green, 1.90a2.00. Lima beans—Supplies heavy: demand moderate, market weak; Eastern Shore Maryland, bushel hampers, 1.25a1.50; best mostly 1.50. market' steady; crates, 3.26a3.75, Apples — Supplies liberal demand light, market dull; Virginia, bushel bas- kets, Grimes, U. 8. No. 1, 2!, inches ivers, U, o ches, .00. AL D COTTON GINNINGS. By the Associated Press. Cotton ginnings prior to August 16 were announced today by the Census Bureau as 303,940 running bales, includ- L 4,072 round bales counted as half oS, To that date last year 279,568 bales, including 5,893 round bales, had been ginned, and th 1927 to that date - nings totaled 455,388 bales, including 10,940 round bales. “Slab Zino Output, rado, 45 - pound 135969 short tons, compared 75 in June lnd" 128,605 tons in the American | of Cantaloupes—Supplies moderate; de- | Peas—supplies liberal; demand light. | Colo! ON'SALES METHODS Industry Concentrates on Dis- tribution of Products for Future Prosperity. BYeJ. C. ROYLE. Bpecial Dispatch to The Star. NEW YORK, August 23.—This is the day of the salesman. The position of business is largely dependent at this time on the efforts of the distribution system. Those efforts are being found 50 thoroughly effective that industry and trade are being maintained at a rate which has not hitherto been equaled at this session of the year. Better marketing has been as much in evidence as better buying power. Sales methods are showing as much improve- ment as mechanical equipment and sales personnel has increased in effi- clency equally with industrial per: Distribution has increased leas those lines in which marketing is efficient, The stocks of unsold wheat still are dangerously heavy. Cash grain on hand or in transit amounts to some 200,000,000 bushels with foreign demand at a low ebb, To avoid congestion at terminals an embargo has been placed on shipments of rye, barley and oats in the Northwest until September 2. Coal, both anthracite and bituminous, is mov- ing slowly, although the outlook is brightened. One of the troubles with coal has been ineflicient salesmanship. Oil is being more efficiently handled from a sales viewpoint and the petro- leum situation shows some signs of brightening in' consequence. Corn States' Outlook. While corn is being damaged by | drought, the fact that it is eflicientl rketed in the formn of livestock is the corn will crop. pendent on when end how it is marketed and on the weather and the weevil. But efficlent marketing will go far to counteract un- favorable factors, Steel production is showing a very slight tendency to diminish, but pay Tolls are nearly 20 per cent higher in some steel districts than a year ago, the | condition of the industry and its pros- pects are indicated by the fact that shipments of iron ore are proceeding to furnaces at a rate ahead of all previous records. A total of 31,283,940 tons went to Lake Erie ports to August 2, or over 9,000,000 tons more than for the corre- sponding period of 1928, Automobile factories are working at & splendid rate and sales are holding | up with unusual persistence. Sales of | airplane engines and airplane acces- sories are growing at a steady rate, and | the coming Cleveland show is expected to speed purchasing still further. Radio set and accessory manufactur- ers have never had a Summer like this. First, the sales policies have been altered to eliminate the usual Summer dullness, and second, the manufacturers are now beginning to get adequate re- turns from sales efforts and missionary work done in foreign fields. Electrical equipment manufacturers are in a most enviable position, due largely to well directed sales efforts, The central station equipment orders have been heavy and this accounts for | much of the business, but a tremendous | volume of trade has bheen worked up | in a popular labor saving and house- hold equipment. Active buying is in evidence in the industrial chemicals and _indications point to a continuation, although the | alcohol situation is complicated by the uncertainty as to what the tariff makers at Washington will do with duties on, blackstrap molasses, from which much alcohol is made. Chain Stores. Development of the chain store 1dea is growing apace. This is shown not by additional purchases or opening of units by the chains already established, but the formation of new and relatively small chains in various geographical sections. This is in evidence in plumb- ing, heating and ventilating lines, drugs, foodstufls and apparel. The tightness of money is decidedly in evidence in building construction in some sections. The check to building | has not been’ severe, but it has been sufficient to indicate that no great impetus upward can be expected for a month or so to come. Building ma- terials are slightly lower. Lumber orders are falling a trifle below produc- tion and shipments and unfilled orders are showing lower totals. The growth in savings deposits, both in savings banks and in postal savings, shows that thete is plenty of buying in evidence. —_— Stock Issue Approved. NEW YORK, August 23 (#).—Stock- holders of the Edison Illuminating Co. of Boston have approved, subject to the approval of the department of public utilities, issuance of four $25 par shares for each $100 par share. Money to Loan of trust on real estate. er 550 warh: & 1. Weller 40 Wazh. First Mortgage Loans Zair Rates of Interest J. LEO KOLB 923 N. Y. Ave. Dis. 5027 In Nearby Virginia 1 l Prudenti::l e e Commonwealth Investment Co. 917 15th St. N.W. Phone Natie MERGENTHALER LINOTYPE CO. Brooklyn. N. Y., August 20, 1929, DIVIDE! 135, guasterly dividend of 3135 and an ex: ividend of 50 cents“upon each of the 000 shares of present outstanding stock o par value of Mergenthaler Linotype Company will be pald on September 30, 1925, to the stockholders of record as they appear at the close of business on Sep- tember 4. 1929. " The Transfer Books will not be closed. GEO. L. SCHARFFENBERGER, Creaxurer. A tra 256, First Trust Notes - at 6% interest for sale at par and mcerued Interest Tyler and Rutherford, Inc. 1520 K Street’ National 0475 Complete Investment Service G/}.Lzr & Co. BANKERS INVESTMENT BUILDING ‘WASHINGTON, D.C. Telephone, National 2460 Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., August 23.—Po- tatoes, white, barrel, 1.50a5.25; .100 pounds, 3.00a3.25; sweet potatoes, bar- rel, 1.50a5.00; beets, 100, 3.00a4.00; beans, bushel, 1.25a1.50;: cabbage, ham- per, 90al.10; carrots, 100, 3.00a4.00; celery, crate, 1.50a2.50; corn, dozen, 10 220; cukes, bushel, 75a1.00; eggplants, hamper, 40a60; lettuce, crate, 1.50a 4.00; lima beans, hamper, 40a75; onions, hamper, 90a1.10; peppers, hamper, 20 ; squash, hamper, 15a35; tomatoes, hamper, 40a60;- canners stock, bushel, apples, bushel 3 ‘hamper, amper, 25a40; quart, 12a15; huckleberries, quart, 15& 20; peaches, hamper, 25a65; pesrs, bushel, 1.5082.75. Live Stock Market. Cattle—Receipts, 1,000 head; good supply, market dull and lower. Steers, choice, 12.55 to 13.55; good, 11.75 to 12.50; medium, 10.75 to 11.50; common, 8.75 to 10.50. Heifers, choice, 10.75 to 11.50; good, 10.00 to 10.75; medium, 8.50 to 9.75; comnion, 6.50 to 8.25. Buils, cholce, 9.00 to 9.75; fair to good, 7.75 to 8.75; common to medium, 6.75 to 7.50. Cows, choice, 8.00 to 9.00; fair to good, 7.00 to 8.00; common to medium, 4.00 to 6.75. Sheep and lamb—Receipts, 2,000 head; good supply, market slow. Sheep, 2,00 to 6.50; lambs, 7.50 to 14.25. Hogs— Receipts, 300 head; light sup- ply, market higher. Lights, 12.60; heavies, 11.50 to 12.05; medium, 12.70; roughs, 7.75 to 10.10; light pigs, 11.25; pigs, 12.10; trucked hogs, 20 to 30 high- er than quotations. Calves—Receipts, 50 head; light sup- ply, market higher. Calves, 6.00 to 16.50. % Dairy Market. Poultry, alive—Spring chickens, pound, 25a31; Leghorns, 23a26; pool and thin, 18a20; old hens, 23a31; Leg- horns, 20a24; old roosters, 18a20; ducks, 814 cases; native 37a38; ourrent re- celpts, 34a35; hennery whites, 38a45. Butter—Good to fancy creamel pound, 41a45; ladles, 33a35; store pack- ed, 30a3012; Tolls, 31a32; process but- ter, 40adl. Hay and Grain Prices. Wheat—No. 2 red Winter, spot, 1.35; No. 2 red Winter, spot, 1.3114; August delivery, 1.31; September delivery, 1.3115; No. 3 red Winter, garlicky, spot, 127%. Bag lots of nearby, no sales. Cargoes on grade—None. Corn—No. 2 export, August delivery. | no_quotations; No, 2’ domestic, yellow 1.20a1.24; cob corn, 5.75a6.00 per barrel Oats—No. 2 white domestic, spot, new. 55; No. 3 white domestic, spot, new, 54. | Rye—Nearby, 1.00a1.10. i Hay—Receipts, none. Season for old hay is about over. A little new crop is arriving, but hardly enough upon which | to establish quotations by grades. | Where in good order new hay sells at | from 13.00 to 15.00 per ton, according | to its quality and condition, receipts : by truck taking care of most requir ments. Straw—Little demand for straw. Re- ceipts generally ample. Wheat straw, No. 1, per ton, 9.00a10.00; oat straw, | No. 1, per ton, 9.00a10.00. Mortgages Investments JAMES Y. PENNEBAKER Nat.5201 1520 K St. N.W. Robert R. Bennett Investments Metropolitan Bank Bldg. for 22 years Own Guaranty First Mortgage | Notes and Bonds i In order that all may have an opportunity to buy these guaranteed securities conveni- ent monthly payments can be arranged. H 6% INTEREST || Guaranty Notes and Bonds represent sound in- vestment. Secured on in- come-producing properties in Washington and its suburbs and backed by our $3,400,000 resources. Denominations $250 up. Send for Booklet, The Success Plan ‘REALESTATE MORTGAGE & GUARANTY .CORPORATION . Capital Resources $ 3,400,000 24 JACKSON PLACE 3 _— from 1 Continental Trust Co. 14th and H. Streets Capital, _Sl ,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time Deposits’ Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 ™ FINANCIAL, RAILROAD EARNINGS. NEW YORK, August 23 (#).—The net operating income of the New York, New Haven & Hartford Rallroad for July as reported today to the Interstate Commerce Commission amounted to $2,717,171, as compared with $2,278,186 for July, 1928. After guarantees and preferred dividends, the company had a surplus for the month of $1,747.457, as against $830,209 for July of last year. Other railroads reporting net operat- Ing incomes for July follow aflroad. 3 Western Maryland Lehigh Valley SILVER QUOTATIONS. NEW YORK, August 23 (#).—Bar sil- ver. 52%; Mexican dollars, 3! %% 15 Buys Textile Printing Corporation. NEW YORK, August 23 (#).— The Fabrics Finishing Corporation,~ with plants in Paterson and Newton, N. J., has acquired all of the assets and good will of the Gramercy Textile Printing Corporation. Stock Offer Apprnv;d. NEW YORK, August 23 (#).—Stock- holders of Bryant & Chapman Co, of Hartford, Conn., have approved the of- | fer of the National Dairy Products Corporation of 22,000 shares of its com~ mon stock for Bryant & Chapman stock. - The basis of exchange is four shares of National Dairy for five of | Bryant & Chapman of $4.50 w ted. Consult Us Regarding Your Maturing Mortgage ~ LONG-TERM REAI. ESTATE LOANS 5Y2% We Make First Mortgages on Homes, Apartments and Busines: Properties in the strict of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Mort Equitable Co-Operative Bldg. Ass'n WALTER 8. PRATT, Jr., Secretary JOHN JOY EDSON, Organized 1 President .63 ¢ Loan Correspondent, New York Mfe Insurance Company. /% Surplus & Profits. Subscription for the 97th Issue of Stock Being Received Decatur 3600 y 49th YEAR COMPLETED +..$1,601,704.98 IR, RGN SAVE AS YOU EARN HE Equitable’s plan of sys- ematic savings encourages thrift in a manner that if con- sistently followed will eventual- Iy lead to financial independence. Start now while you have a steady income. Come in and let us explain about our systematic plan, 915 F St. N.W. piie Cnly those which offer the best security are selected from the large number of mortgages which are con- stantly being submitted to BO piavivg\iv John Hancock Mutual 117 K 8t U SS o PH Realtors Founded 1907 Loan Correspondent YOU CAN INVEST WITH ABSOLU! CONFIDENCE IN OUR FIRST % MORTGAGE | NOTES & DENOMINATIONS OF $250 AND UPWARDS PROTECTED by careful appraiscment of trained men. SECURED on carefully selected and {m- proved real estate in Washington and its environs. i INSURED against loss by fire by standard INTI T_CHECKS RECEIVED BY INVESTOR THE DAY THEY ELPS . U ADS/ =l 1 Life Insurance Co. National 9300 P TUGUIUBUBUBVGUTA First Trust Notes Secured on Washington, D. C. Real Estate Interest 69 Semi-Annually Conservative Appraisal Certi cate of Title Fire Insurance and careful attention to details E Est. 1433 K St. N.W, Wm. H. Saunders Co. 1887 Dist. 1015 RIRSE - —and 6% Over a Third of a period Century Without @ Loss. —and National 2100 WE INVITE TRUSTEES control of funds the absolute safety and liberal interest of our In them you have a definite cipal more than secured by the property ‘behind the mortgage May be purchased in amounts from $250 up. B. F. SAUL CO." OF ESTATES others entrusted with the to consider FIRST MORTGAGES of investment; with prin- " fixed interest return. 925 15th St. N.W.