Evening Star Newspaper, October 2, 1929, Page 14

14 ek FINANCIAL. BONDS INDEMAND | 1929, : FINANCIAL. STOCK PRIGES GAIN AS CREDIT EASES THE EVENING STAR, WASHINGTON. D. C., WEDNESDAY, OCTOBER 2 Stock and Sales— Dividend Rate. Add 00. High. Drug Corpn (4) 3 Du Pont de N(+ 32 Prev. Low. Close. Close. 31 81 314 29 20 29% Prev. L— Low. Close. Close. . Low. 1113% 118 113 44% 37 188% 190 Stock and #a Prev. ~—1029-— Stock and Sall les— aa 00, Dividend Rate. Add 00, High. Low. Close. Close. 11 37 38% 37 High. Low. Dividend Rate. Add 00. High. 41% 28% Nat Acme (1%) 31 52 48% 27 L For Complete Compilation of Sales See 5:30 Edition. i — Stock and Sales— Prev. L s Us . Low. Dividend Rate. Add 00. High. Low. Close. Close. - . 57% 52 62 62 Special Committee Named to Honor C. J. Bell—Other Tinancial Notes. ~Y EDWARD C. STONE. Bonds were in good demand on the Washington Stock Exchange today, Capital Traction 5s, Potomac Electric Power 6s and Washington Gas Light serfes A and B bonds figuring in por the trading. There was a turndver of $3.500 in Capital Traction 5s, the market_opening at 8815 and closing at 88. The other is- sues also sold around recent levels. Trading in the stock division was in small lots, Ten shares of Capital Traction sold at 88%, 10 more at 8813 and 10 more closing the trading at 88 flat. Railway 3 & Electric preferred registered 961, and Potomac Flectric Power 6 per cent preferred sold at 11135, Federal-Ameri- can Co. common came out at 4113 and closed with a sale of 50 shares at 407%. Merchants Transfer & Storage pre- ferred moved at 106':, Mergenihaler Linotype sold at 103': and %. while 15 shares of Peoples Drug Stores pre- ferred changed hands at 1183;. Three hundred shares of Real Estate Mortgage & Guaranty preferred sold at 7%. Liberty National Bank stock sold at 235 and 100 shares of Washington Savings Bank at 17. The market closed with 100 shares of Firemen's Insurance Co. selling at 4315, President George O. Walson today ap- pointed a special committee to attend the funeral of Charles J. Bell, an honored exchange member, consisting of Albion K. Parris, William B. Hibbs, Eugene E. Thompson and Carroll Glover. They are all past presidents of the ex- change. As the present head of the exchange Mr. Walson will also attend. Credit in Greater Demand. Reserve bank credit was in greater use in the fifth district on September 15, than a year earlier. On September 15 last vear, rediscounts for member banks held by the Richmond Reserve Bank _totaled $58,371.000, compared with $66,691,000 on September 15 this year. Total earning assets a year ago amounted fo $70,134,000. and to $74,- 873,000 at the middle of, September this year. Federal Reserve notes in actual | circulation totaled only $60,406,000 on | September 15, 1928, compared with $82983000 on September 15, 1929. Member bank reserve depc its declined during the year from $71958,000 to| $66,288.000. On September 15, the cash reserves of the Federal Reserve Bank of Rich-{ mond__totaled $72,866.000, compared with $83,960,000 on September 15, 1929, and the ratio of cash reserves to note and deposit liabilities combined rose from 53.42 per cent to 56.08 per cent during the year. Craig B. Hazlewood. Hazlewood Concluding Duties. Craig B. Hazlewood is concluding his duties as president of the American Bankers' Association, his succesor prob- ably being elected tomorrow at the San Francisco convention. Washington bankers express the opinion that he has made a particularly gogd association head. The Chicago binker has been all over the country during the year making speeches. and has also written extensively on time banking subjects. He has stressed “better bank management as one of the most vital matters now before the banking interets of the coun- try. His successor will be John B. Lonsdale of St. Louis. ‘The most iniportant address at today's convention session was made by Con- troller John W. Poole on branch bank- éng. It appears elesewhere in The tar. Lincoln Bank Reviews Business. ‘The Lincoln National Bank's outline of business for October, out today, re- ports that business, with few exceptions, is taking on incrcased activity with the Fall scason. “This appears to be gen- erally true in spite of the fact that in many lines the customary Summer slackening failed to appear,” the fore- cast_adds. “Retail trade is reacting favorably to the early cool weather, and the gen- ceral trend of sales is up. With pur- chasing power in the hands of the public increased through larger earn- ings of both labor and capital pros- pects for the Fall and holiday sea- sons are considered good. Department store sales are running approximately 5 per cent above a year ago, according to latest Federal Reserve Board data. “Foreign trade is assured of a new all-time record for 1929, according to United States Commerce Department officials. Goods to a total value of $3,407,875,000 have been exported to September 1. as compared with $3,135,- 979,000 in the same months of 1928.” Fifth District Building Reviewed. _Building inspectors in 33 fifth district cities issued 1,449 permits for new con- struction work in August, 1929, a de- crease of 2 under August 1928. How- ever, estimated valuation figures for new work totaled $8252,372, an in- crease of $601,960 over permits for $7,- 650,412 ir new construction in August, 1928. Alteration and repair permits is- sued in August numbered 2414, com- pared withs2,256 permits in August last year, but valuation figures for this class of work totaled only $1,795.932 in com- parison with $2,061,607 in August, 1928. Total valuation for all classes of permits issued in August, 1929, amounted to $10,048,204, an increase of $336,185, or 3.5 per cent over the total of $9,712,019 issued in August a year ago. Only 13 of 33 reporting cities show= ed higher figures for the 1929 month, but the district total was brought above that of August, 1028, by material gain in Baltimore, Frederick, Roanoke and Winston-Salem, and smaller gains in other cities, while Richmond reported the only large decrease. A new city, Sal- isbury, Maryland, appears in the table this month. Contracts awarded in August for con- -struction work in the fifth district, in- cluding both rural and urban projects, totaled $29,414,061, compared Wwith $30,- 171,855 awarded in August 1928. Heard in Financial District. Charles C. Lamborn, treasurer of the National Savings & Trust Co,, is back at his desk after a month's vacation, most of which was passed in Georgia. William S. Miller, assistant treasurer of the Union Trust Co. has returned from a month's vacation, which in- cluded a motor trip through New Eni land and a visit at Bar, Harbor, Me, President Hoover has issued an executive order transferring the Division of Co-operative Marketing from Department of gm’lcmlm‘e to the Fed- al Farm Board. ex—smckhmdeu of the Pennsylvania Railroad on September 1 numbered 156,601, against 157,412 on August 1, & decrease of 811 for the month, The Cunard, Anchor and Anchor- Donaldson lines have opened their new offices at 1504 K street northwest. This Jocation is in the new Southern Rail- way Building where several other busi- ness firms also ha yently taken of- fice space. Checks have been received here in payment of the ‘quarterly dividend of 2 per cent by National Shirt Shops, Inc. When this dividend was declared the directors ordered the col to re- «eem the preferred stoct 10, . 7612 401 34 18415 106'y 3 147% gsifi Abitibl Power & Pap 9 84% 27% ADItib] P & P pf(6).. Adams Exp pf (6)... Adams Millis (2)... Advance Rumley.... Advance Rumley pf. Ahumada Lead. .. Afr Reductn (t4%).. Alr Wal E1 Ap(2%).. Ajax Rubber, Alaska Juneau (5%) Alleg C pt (5% )xw. Alleg pf rec 5% xw. Allted Ch & Dye (6).. Allled C& D pf (7)., 4 Allis-Chalm Mf(n).. Amerada Corp (2)..e Am Agricul Chem. .. Am Agricui Ch pf.., Am Bank Note (13),, Am Beet Sugar pf... Am Bosch Magneto. . Am Brown Bov Elec. Am Can (14).. . Am Car & Fdy (8)... Am Chain pf (7) Am Chicle (2). Am Com Ale (k: Am European S Am & For Power. 15% 107% 38 American Icq (3). 52%5gAm Internat'(32). 4% Am La F & Foamite, 102% Am Locomotive (8)., 112 Am Locopf (T)eeees Am Mach & Fdy(15). Am Metal (3). . Am Metal pf (6). Am Pow & Lt (11)... Am Pow & Lt of (8). AmP&LDfA(3)... Am P&L pf A =t (5). Am Ra&Std San 1 Am Republics. Am Rl Mill (c2). Am Safety Raz (16).. Am Ship & Com. Am Sm & Ref (4).... Am Sm & Ref of (7). 4 Am Snuff (3).. Am Steel Fdy (3) Am Stores (2). 4 Am Sugar Rfg (5) Am Sumatra (3)...e Am Tel & Tel (9) Am Tobacco (8). Am Tobacco B (8)... ‘Am Tobacco pf (6)..: 50 113% 81'% Anaconda W&C (3).. Anchor Cap 12.40)... 4 Andes Copper (3).... Archer-Dan-M (2) Armour I11 (A) Armour 111 (B) Atch T & S Fe (10) Atch T&SF pf (5). Atl G & W Indles At1G& W L pf ( Atl Refining (12) Atlas Powder (4). Auburn Auto (16)... Austin Nichols B Austrian Cred (4.49) 224 Autosales...... B 38% Auto-Strop Raz (3).. 1244 Aviation Corp. Del... 56'a Baldwin Loco (new). 51'y & 1154 Baltimore & Ohio (7) 4 110 4 136% 72 154%% 140 109 951 130 B8 5 212% 99 700 3o% 92% 96% 26% 80% 183% 1 67% 129 64'3 Bang & Aroos (3%) 3314 Barnsdall (12%) 20 Beacon Ofl.... 9314, Beatrice Cream (4) .. 73 " Beech-Nut Pack (3).. 9 Belding-Heminway.. 70% Bendix Aviation (2). 5514 Best & Company 82!a Bethlehem Steel (6). 116% Bethlehem St pf (7). Bohn Alumn&B (15). 78'3 Bon Ami A (15). 5': Booth Fisherle £34 Borden Co (3).... 64': Borg Warner (4) 25 Briggs Mfg 35'k Briggs&Str 5 274 British Empire Steel 3313 Brockway M T (3)... 57's Bklyn-Manhat (4) 79 Bklyn-Man pf (6). 9 Brooklyn & Queens. . 60 Bklyn&Queens pf(4) 35% Bruns-Balk-Col(3).. 141 Bruns Ter & Ry S. 25'% Bucyrus Erle (1).... 384 Bucvruscv pf (2%). 54% Buff & Susque.... 42 Bullard Co (12)..... 621 Burr Add Ma (1.80). 53% Bush Term (g2)..... 3'x Butte Copper & Zi 6!4 Butte & Superlor (2) 28 Butterick Co 120% Byers (A M. 31's By 72% Calif Packing (4). 113 Callaban Zinc & L. .. 1227 Calumet & Ariz (10). 36% Calumet & Hecla(4). Canada Dry G A (5).« Canadian Pac (10).., Cannon Mills (2.80 Case (J I) (6 Celotex (3) 30 Cent Aguirre %. 40% Cent Alloy Steel (2). 88% Cerro de Pasco (6).. 16% Certain-teed Prod... 69% Checker Cab Mg Co. 195 Ches & Ohio (10).... 78'% Chesapeake Corp (3) 432 Chi & Alton. . 615 Chi& Alton pf. ... 12% Chi Great Western 387 Chl Great Westn pf. 27% Chi M1l St P&Pac. 46' Chi M1l St P&Pac pf. 80% Chi& N W (4) 28% Chi Pneu Tool. 48! Chl Pneu T pf 115 ChiR1& Pac (7). 35 Chicl 447+ Childs Co 71% Chile Copp orp (3).ee (eeenas Cluett Peabody (6).. 120% Coca-Cola (4).. 53% Col Gas& El (2).... 103% Col Gas & El pf A 6). 86 Col Gas & Kl pf B (5) 88 Col Gas&E rets ptpd. 55 Columb Graph(87c). 121% Columb Carbon t4%. Com Credit 12). 131% Coml Inv Trust (3: 91 Com Inv Tr pf(6%).. 225t% Com Solvents (h8).. 19% Congoleum-Nairn. 65% Cong Cigars (16%). 60% Consol Cigar (7). 21% Consol Film (2) ‘24% Consol Film pf (2). . 95% Consol Gas (3).... 96% Consol Gas pf (5). 2 Consol Textile. 6 Contatner Corp B. 47 Contl Baking A. 81 Contl Baking B. 79 Contl Insurance 12 Contl Motors (80¢) 2814 Contl Ol of Del.. 83 Crossley Radio (31). 42% Crown Cork & Seal. . 18% Crown Zellerbach (1) 49 Cudahy Packing (4 117 Curtis Pub (16%). 30% 18% Curtiss Wright Corp 37% 29% Curt Wright Corp A. 108 . 63 Cuyamel Fruf 69 42% Davison Chem. 46% 30% Debenhams (a1 69). 182 Delaware & Hud (9) P e L L L LT oo o AP =N e =N orae RS ROARHNRNDRE® ST " 3 SO TR ] 110% 8514 837% 309 1224% 6519 26% 8Y% 374 144 51 66Y% 8114 87% 30% 20% 33% 1% 47% 110% 851% 837% 317 123 65 27 8% 37% 146 51 66 167 16% 167 95 8814 65% 431 8% % 158% 27% 43 6414 47 82% 4 114% 113% 114 114 253 145% 1011 16715 167% 115 162% 179 15' 8513 13 16 115% 79 114 1250 107% 953 119 55U 2901 46% 6114 21% 24'% 151% 9T 2 7 3 ¥ 110% 50% 69%, 23% 101 o 4% 14% 11% 49% 1204 18% 29% 100t 49% 33 197 65% 856 45% 170'% 965 8914 65% 44 80 1634% 30 114% 114 258 701 126 148% 1011 675 T6% 3814 29314 169, 169 115 16214 1%07 161 36 13 18% 116% 401, 10% 6 40 124 116 12 164 129% 107% 957 119 5674 2951, ‘6115 22 247 1524 9TH, 2 T 73 109 947 57 857% 975 125 124 324 311 113% 112% 50% 50t 9% 91y 69% 70 28Y% 22% 104 102 1% 1% 4% 4 14% 14% 120 1% 49% 49% 120 120 187 18% 30% 30% 100% 101 504, 50 33w’ 1% 994 ,198% 152 860% 852 46% 44% 961% 4 Hon Duquesne 1st pf (5). Eastman Kodak(18), Eaton Axle & 8 (3).. Elec Auto Lite (6)... Electric Boat. El Pwr & Lt (1) El Pwr & Lt of (7). Elec Stor Bat (5). Eng Pub Serv (f1). Eng Pub Sve of (5% Equitable Bldg(2%). ErleRR. Erie R R Eureka Vac Cl (§). Fairbanks Morse (3) Fash Pk Assok2% ). Fed Motor Tr (80¢).. Fed Water Serv Fid Phen F Ins First Nat Stores 1%. Fisk Rubber. .. Flelschmann (t4)... Florsheim Shoe A. Follansbee (+2%)., Foster Wheeler (1) Fost Wheeler pf (7, Foundation Co. Fox Film A (4) Freeport-Te: 4 Fuller pr pt (18.68).. Gabriel Snub A. Gamewell Co (5) Gardner Motor. Gen Am Tnk Car($4) ) Gen Electrie ( Gen Elec spec (60c) . 4 Gen'l Food Corpn (3) Gen Gas&F] A (e1%) Gen Mills (13%). Gen Motors (+3.30) Gen Motors pf (7). Gen Outd Ad vte (2. Gen Public Serv(b§) Gen Ry Signal (5). Gen Refrac (14). Gillette Safety R (5) Gimbel Brothers. ... Gimbel Bros pf (7) Glidden Co (m2). Gobel (Adolf) Gold Dust (2% Goodyear 1st pf (7).. Gotham Silk H (2%) Gould Cotipler. Graham-Paige Granby Copper (8 Grand Stores (1) Grand Unton. ... rand Union pt (8).. 4 Grant WT (1)... Granite City Stl (3).. Grt North pf (5). Grt North pf ct (5) Grt Nor Ore (a1% ) Grt West Sug (2 80 Grisgby Grunow G Gulf Mo & North Gulf Sta Steel (4). Hahn Dept Stor 2 Hahn Dept S pf(6%) Hartman A (2). . Hartman B (120) Hawallan Pine (2). .3 Hayes Body b8 % stk Helme (G W) (17)..: Hershey Chocolat Hershey Choc pf Hoe (R) & Co 4 Hollander & So; Houd Hersh B (1%). Househld Fin pf 3.18 Household Prd (14). 0on Oll...cceee. Howe Sound (t4%).. Hudson & Man (2%4). Hudson Motor (5). 4 Hupp Motor (£2). Illinols Central (7). Independ O11 & G (2) Indian Motor Cycle. Indian Refining..... Indian Refining ¢ Industrial Rayon Ingersol Rand (ti 3 Inland Steel (3%). Inspiration (4).. . Interboro Rap Tran. Intercontinental Rub Intl Agricultural.... Intl Agri pr pf (7). Intl Cement (4).. Intl Comb Eng (2). Intl Cmb Eng pf (1), Intl Harvester (23). Intl Harv pf (7)..... Int Hydro El A (e2). Int Mer Marine otfs.. Intl Match pf ¢3.20 Int Nickel of Can (1 intl Pap & Pwr B Intl Pap & Pwr C. Intl Pap & Pwr pf(7) Intl Print Ink (2%).. Int Shoe (234)... Intl Stiver (18). . ... Inter Dept St (2) Intertype (ft1%). 4 Investors Equity (2). Island Creek Coal(4) Jewel Tea (3) Johns-Manvil Jordan Motor Car. Kan City Sou (6).... Kaufmann DS (1%) ser Julius (4)... K 4 Keith-Albee-O pf (7) Kelly-Spring Tire... Kelsey Hayes (2)... Kelvinator Corp. Kennecott (5) . Kinney G R (1) KKolster Radio. Kraft PhCh (1%)... Kraft Ph Ch pf (6%) Kresge S S (1.60) Kreuger & Tol(1. Kroger Gr&Bak(c1)., Lago Ol & Trans.... Lambert Co (8). Lee Rubber & Tire. Leh Port Cem (2% ).. Lehigh Valley Coal.. Leh Val Coal pf 3).. Lehigh Valley (3%). Lehn & Fink (3). Liggett & My (15) Liggett & My B (16). Lima Locomotive. .. rbonle (14 ). Inc pf (6%).. Loose- Wiles (2 60).. Loriliard (P) Co.. Loutstana Oil. . LouG & KIA (1%).. Louis & Nash (7). Ludlum Steel (2). tMcKeesport T P (4) . McKesson & Rob (2) Mallinson & Co. Supply. E Elev mod (d5). Marlin Rock (13%). Marmon Motor (4).. Mathieson Alk (e2). May Dept Strs (4) Maytag Co (12). . Meiville Shoe (1.40). Mengel Co. .. Mexican Seaboard Miami Coprer (4)... Michigan Steel«{3). Mid-Continent P (2). Mo Kan & Te: & Mo Kan & Tex pf(7). Missouri Pacific. Missouri Pac pf (5). Mohawk Carpet 12% Mont Ward (2%)... Motot Meter G& E. . Motor Products (17). Motor Wheel (4).... Mullins Mfg. .coceee Munsingwear (13% Murray Corp (a3)... Myer(FE)& Bre (3). M*‘M [0 PPPRN 1 70 13 67 7 20 1 36 5 4 o~ = PR~ NBEAN S N O R ~R SN 27 27 2 288 2 » S e [ PRE - =T - SR A JO Yo NP 'S ® o R o Bwm 37 4 19 5 1 21 1 14 5 50 b 16 bl 1 24! 188% 100 218% 544 4 136 8% 2% 107% 90 68% % 126% 10% 41 32 sy 43 421y 84 /84 44 43% 37% 371y 874 87% 467 85 100 100 228% 219% 5414 185% 8 7538 tl Bel o 1 Bel Hes pf (7)., Nat Biscuit (17%).. Natl Biscuit pf (7) Natl Cash Reg A (16) Natl Dairy(c1%). Natl Dept Stores. Distillers. 1 Pwr & Lt (1). 4 Natl Radiator. .’ Natl Supply (18) Natl Tea (1%)...... Nevada Copper (3). Newport Co A (3)... Newton Steel (3). caSnannTuulane teooee Norfolk& Wstn(+10). North Am(b10% stk) North Am pf (3)...., North Am Ed pf (6). 4 Northern Pac (5). North Pac et (5) % Norwalk Tire & Rb.. 011 Well Supply. Oliver Farm Equ! Olivr Fr Eq pf A(6 pe KRS mraooaNem HeNe—ma Owens 111 GI PacificGas & B (2).. Facific Lighting (3) Pacific Ol stul Packard Motor. Pan-Am Petrole; Pan-Am Pete B. Panhandle P & K Faramount-F-L (3).. Park & Tiiford (33). Park Utah § Pathe Exchan Pathe Exchange A Patino Mines (3.89).. Peerless Motor Car. Penick & Ford....... Pennsylvania RR(4) Penn Dixie Cm pf(7), Pere Marq pf (5). Pet Milk (1%). Phelps Dodge (3).. Phila & Read C & % Phoenix Hoslery. Plerce-Arrow A Arrow pf (6). Plerce Petroleum Pillsbury F1 (12%).. Pirelii Co A (2.88). Pittsburgh Coal. . Pittsburgh Coal pf.. Pittsbgh Screw 1.40. Pitts & W Va (6). Poor & Co (12). P Rican Am To (B) Prairie O & G (2% ) Prairie Pipe L 1434 Pressed Steel Car Pressed Stl C pf ( Proctor&Gamble(2). 5 Prod & Refiners. .... Pub Sve B&G pf (6) Pub Sve NJ (2.60) Pub Sve NJ pf 6) Pullman Corp (4) Punta Alegre Sugar. Pure Ol (1% ).....0 Purity Bakeries (4) Radio Corp. .. Radio pf A (3% Radio pt B (5). Radlo-Kelth-Orpl Railway & Exp (2).. Raybestos Manhatn, Reading (4)... Reading 1st pf wmmamameBenn D 0= 258~ (2). Reis (R)&Co 15t(7).. Remington-Rand. ... Reming-Rnd 1st (7). Reo Motors (11.60) Rep Iron & Stl (4, Reynolds Spring. Reynolds Tb B(2 Rhine West (1.92). Richfield 011 (2). Rio Grande O11 (k2). Rosaia Ins (2 20) Royal Dutch (a3.20). Safeway Stores (3) St Joseph Lead (13). St L-San Fran (8). St L-San Fran pf (8) St L Southwester: St L Southwn pt (5 Savage Arms (2). Schulte Retall Str. Seaboard Air Line... Seaboard Air Line pf Seag e1.20).... Sears Roebck (32%). Seneca Copper. Servel Inc.... Sharon Steel H (2) Sharp & Do ot (3% Shattuck (F 3) (1) Shell Union (1.40). Shubert Theater (5). Stmmons Co (3). Simms Pet (1.60) SinclatrOfl (12%) Skelly Ol (2) 6 Sloss Sheffield 1 Snider Packing 1 Snider Packing pf... 1 Sclvay Am Inpf5%. 10 So Porto R Sug 12%. 4 Southern Cal Ed (2). 21 Southern Dairies B 1 Southern Pacifie (6). 9 1 1 4 5 2 2 Cavond © O -1 wSa oo -1 Southern Rwy (8). Southern Ry pf(5)... Spalding (AG) (2)... Spang-Chalfant. Sparks Withington Spiegel-May-St (3).. Spencer Kelg(1.60).. 29% 30% 33 90 90 91 213 214k 215% 143% 143% 143% 123 1244 124% 2% Stew: Ston Timkn 3 Stand O11 N Y (1.60). Sterling Sec A).... Sterling Sec pf 11.20. Sterling Sec cv pf(3) & Webster, Studebaker (35). 64% Submarine Boat. 1% Superfor Steel. Sweets of Amer (1).. SymingtonA. Telautograph (1) Texas P C & Ofl (bS). Texas Pac Land Tr.. ‘Thatcher Mfg. 116% 116% 12 12 219 6414 43% 3% 3% 43 35% 14% 54 t Warn(J3%). S 2 19% 43 11% 13 19% 64% [ 14% 33% 3714 184% 854 ‘Tide Water Ofl pf(5) Det Axle 18! Tobacco Pr A (1.40). Tob Prod ctfs A 1.40. ‘Transcontinent: Truax Traer (1.60) Underw-EI-Fish(4) Union United Fre Leather... qeeacgaaaaaca nunwnneLn Vanad: Vick C Virgin Virgini Waldo: Warre. Westn, Westn, ite White White White White 1y Worth Worth Young Young Zenith Am Cot Hayes Pac G UnCar! Sales of iaration. SUDit of tra 4% 1n sicck. 3P # Paid_this year—no 83 |In_stock. d Payable 0 us 10% 10 stock 40 jPlus 8% in stock. 64y, 821y 40 Virgint Wilcox Oll & Gas. .. Wilcox Rich(A)2% Wilcox Rich B (c2 Wilson & Co. Wilson & Co Wilson & Co pf. Woolworth (2.4 No Am Co. . 4 Pac G&E (A). Oct21 6 Union Bag & Pap: Union Carbide(2.60). Union Ol Calif (3) Union Pacifie (10)... Pacific pf (4).. Utd Afrcraft&Trans. Utd Biscult (1.60)... Utd Biscult pf (7)... Carbon.... Utd Clgar Stores(1). Utd Cgr Stor ctfs(1). Utd Corporation. . Utd Corp pt (3). Utd Electric Coal(3) Utd Fruft (c4)...... Utd Gas & Im (1). Utd Gas & Im pt(5 Utd Piece Dye Wk U S Distributing. U S Diatrib pf (7)... S & Forelgn Secur. eight (3). S Hoffman (4).... Ind Alco (6) Pipe & Fdry (2). Pipe 1st pf (1.20) Pipe'2d pf (1.20) Realty (5) Rubber... Rubber Ist pt... S Smelt Ref (3%4). Smelt Ref pf 3% U S Steel (7).. U S Steel pf (7). U S Tobacco (4). Univ Pipe & Rad Utl Pwr& Lt A Vadsco Sal Van Raalte. .. fum (14)...... hemical(2%4).. ia-Car Chem. . Car 6% of. ia-Car pf (7).o WADASN. . ccooeseeos 4 Wabash pf (5)eass rf Systm (13%) Walworth (1.20).... vard Baking B..... d Baking pf (7). Warners Bros P 133 Warn Br P pf(2.20).. Warner-Quinian (2). Warren Bros (15)... T4 53 n Fdry & Pipe Wess Ofl & Snow(2). Wess O & Sn pf (4). Western Pacific. Western Paclf p! Western Union (8).. gh Air Brk(2). gh E1&M (4).. Weston El Instru... Eagle Oil (2). Motor (1).... Rock M S (3). Sewing Mach. Sw Mch pf(4) 491, 141 32 17% Over pf (7) ington Pump. Pump B (6).. Wrigley Wm (4).... Yellow Truck & C... Spring (3)... Sheet & T (5) Radlo (2).... RIGHTS EXPIRE m Ale..Oct ¢ First NatSt...Oct 7 Oct T 17 .Nov 15 133 Body. (P) .Oct21 12 FG .Oct 21 70 b&C ...0ct21 73 3 Stocks on New York Exchange. 851,700 12:00 Noon. « 1,323,600 2,112,500 2:10 P.M. 2,565,000 ividend rates as given in the above table are the annual cash paviments based on the Iatest QUATterly or half yearly dec- 1Plus us 1-25 i stock. regul . b Payabie in . c Plus 67 when earned. e Pavable in cash or stock. §Flus 6% in stock. "h Plus 2% in stock! k Plus 3% toek. 1Parity extra. P GROWTH OF BANKING METHODS DISCUSSED Speechn'of Hazlewood and Pole! Are High Spots of Bankers’ Convention. Special Dispatch to The Star. NEW YORK, October 2.—The two outstanding speeches at the convention of the American Bankers' Association, in San Francisco, are those of the president of he organization, Craig B. Hazlewood, which was delivered yes- terday, and that of John W. Pole, con- troller of the currency, presented ‘o- day. fnurm in what they say to the dele- gates centers mainly in their attitudes on branch banking, which now over- shadows all other questions in the banking world. Mr. Pole is an out-and-out advocate ot a change in the Federal banking laws which will permit national bank: to maintain and develop branches no only in their own locality, but outsid of it. .He advanced this doctrine : 4 | short time ago at a bankers' conventior in Atlantic City, and it is understoo | has since endeavored to win over Sec retary Mellon and members of the Fed eral Reserve Board to his arguments In view of the swift movement towar the integration of banking resource within the last few months, his speec! today was listened to with deeper re spect than it might have been had i been given last Winter or last Spring. Obviously as president of the asso ciation, Mr. Hazlewood could not, & he said, “debate the merits or demerit 65 ilof the trend in the banking system which has resulted “in a startling in- crease toward bank holding companies ' king " chain, group and branch That Ite sympathized with the occasion | for this was apparent in the emphasis he placed on the change of economic conditions in the country and in thc measures of ul(»fimrvnuow by the banks and for avoiding a reoccurrence that have taken otm‘é-t!‘:l‘reo!bfinh . Hasibniid brought out the startling fact that in the past year there have been nearly 1,000 banking consoli- dations in this country. This has led to a situation where 1 per cent of American banks control approximately 75 per cent of the Nation's commercial deposits, with 10 banks alone having combined resources of $10,000,000,000. His view of this situation was that con- solidations “presumably represent the response of the banking business to economic forces that require a greater economy in operation, greater use of the limited number of thoroughly capable i banking executives dualified to meet to- day’s intricate and gigantic financial problems, and larger reservoirs of capi- Ital to undertake the greatey financial burdens of this new businesd epoch.” The president of the association did not pass by, however, the merits in the Thanking system that have grown up in generations conspicuous for individual- ism in American industry, as well as in banking. He described the initiative and the pioneer qualities under which he United States have developed and ‘n which spirit American banking has srospered, “with each unit detached nd independent, in sharp contrast to 1any other countries where branch anking and a central government bank ave always been a traditional and ac- 'pted trend.” He had yecognized the wct, however, that nkers have been engaged recently in strategic retreat from the ranks of nit _bankers.” 1e future was “a banking system that il} discard any of the possible disad- ntages of the banking system of yes- rday and eventually develop & per- cted system which will provide every >mmunity with complete banking facil- ies, without taking away that initia- .ve which hes contributed so large a jart to the upbuilding of economic America.” o PSp— Auto Shipments Gain. NEW YORK, October 2—The H. H. “rankiin Manufacturing Cc. of Syra- suse, N. Y., shipped 1,050 automobiles iast month, the largest September ship- ment in the history of the company and |a gain of 60 per cent over the same lmonthmym.whmuo“um delivered. n_ stoe GERMAN BONDS AND STOCKS. | Special Dispatch to The Star. | NEW YORK, October 2.— Ger Govt Red Loan with draw- ing ctfs attached per 100 R M Ger _ Govi Loan without drawing ctfs per 1000 R M, u Bid. Asked. 59.00 61.00 34.00 27.00 ho 128 pre-wa; erman Gen Elect 4725 1919 Berlin 4s pre- Hamburg 3s. 3ios ‘& 45 pre Hamburg American Line 4 North German Lioyd 4%as. 5.50 30| 33.00 2% 30 (Quoted in_doliars per s A E G (German Ge Elec)....... A E G Se.5 hare. 44.00 G Farben Discont_ Gelischait Berliner ~Handles .. Dresdner Bank awwswas 280x3B5ER5 e 838323353338 Ne Lioyd: "} Austrian A E G- (Generai FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks value (or par) s ;i +$4.8665 “a number of |y What he visioned for |y, Copenhagen &efo. crown. Stocknoim, erown e METAL MARKET. NEW YORK, October 2 (#).—Copper steady; electrolytic, spot and future, 18. Iron steady; unchanged. Tin weak spot, 434 1 44.25. Lead steady. spot, New York, 6.70. Zinc steady. and future, 6.80. Sy s The Eastern Gas & Fuel Associates, a Koppers enterprise, through an offer of exchange of securities, has already acquired more than 85 per cent of the common stock and more tha; in a mi Jority thlg.'e.lmednwko(th Companies, it was s B by Drop in Call Money Stimu- lates Recovery—Advance Is Broad. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW_ “YORK, October 2—Pass- ing of the month-end credit stringency, signalized by a drop from 9 to 7 per cent in call money, stimulated the re- covery of prices in today's stock market, Sol irregularity developed during the mérning as waves of sell- ing, presumably set in motion by “bear” operators to test recent resist- ancg points, swept through the market, but " there was little evidence of any widespread forced liquidation. ‘While considerable difference of opin- ion still exists as to the future course of prices, most of the leading commis- sion houses advise their customers today that the market was entitled to at least a technical rally after nearly three weeks of almost steadily declining prices, which have cut down market values from 10 to 20 per cent in many of the leading issues. Subsidence of foreign selling was an encouraging factor, Steel and Car Loadings. Tron Age reported a marked falling off in the automotive demand for steel. due in part to the preparation of manufacturers of low-priced cars for changes in models. but again empha- sized the heavy railroad demand. Car loadings for the week ended Septem- ber 21 showed substantial increases over the corresponding weeks of 1928 and 1927 and the previous week. A further substantial drop in the daily average of crude oil production also was hatled as_a bullish factor. High-priced specialties rebounded in rather spectacular fashion on the lift- ing of selling pressure. J. I Case and Foster Wheeler preferred each jumped 15 points and Columbian Carbon soared 1315 to a new high record at 303. Standard Gas & Electric, which dropped more than 20 points yesterday, rallied 11. Westinghouse . Electric _common and first preferred, Commercial Solv~ ents, Gillette Safety Razor, Timken Roller Bearing, American Machine & Foundry, General Electric, National Biscuit, Ludlum Steel and A. M. Byerf sold 5 to 10 points higher. Opening Is Higher. Strong buying support came into t¥g@ market overnight, and prices generaldy opened higner. Radio-Keith-Orpheum, which was heavily bought yesterday, opened with a block of 10,000 shares at 3914, up l». International Harvester showed an initial gain of 23% points, American Can 2 and Montgomery Ward, American International, Consolidated Gas, American & Foreign Power and Westinghouse Electric advanced a point or more. Union Pacific dropped 4!3 ! points and American Smelting and In- ternational Match preferred 1%, each. Early buying was influenced, in part, by the speculative belief that the mar- ket was entitled to a rally after nearly three weeks of almost steadily declining prices. Reports of a brisk upturn in steel output, and a further increase in freight car loadings, also had a bullish effect on sentiment. Steels and. motors, which have been under heavy pressure, were in the fore- | front of the early advance. Some of the high priced specialties also snapped back quickly on the lifting of selling pressure, Commercial Solvents running up 7 points, Columbian Carbon 5!;, Electric Auto Lite 4'; and Underwood Elliott Fisher 3. Myer & Bros. moved up to a new high Tecord. AGRICULTURE IMPROVES IN SOUTHERN STATES There is evident much improvement in agricultural conditions throughout the States of Georgia, North and South CaroliLa, comprising a portion of the third Federal land bank district, and farm lands are daily becoming more in demand. This is the view expressed by { Frank H. Daniel, president of the Fed- eral Land Bank of Columbia, which makes long-term loans throughout the States of Georgia, Florida, North and South Carolina, at the meeting of pres- s | idents of the Federal land banks here with the Federal Farm Loan Board. CHICAGO DAIRY MARKET. CHICAGO, October 2 (#).—Butter, receipts, 5114 tubs, easy; creamery. extras, 44; standards, 431,; extra firsts. 42 to 43; firsts, 391, to 41; seconds, 37 to 381, Eggs steady: receipts, 8472 cases; prices unchanged. SILVER QUOTATIONS. NEW YORK, October 2 (#).—Bar silvller, 50!5. Mexican dollars, 37%. Plan Advertising Campaign. NEW YORK, October 2 (#).—Candy dealers throughout the country plan to spend $3,000,000 in the next three years in_a Nation-wide advertising campaign, FIRST TRUST NOTES A fair guaranteed return with ty and security for your savings. for particulars. Thos. E. Jarrell Co. Realtors 321 10th Street N.W. National 0765 AMERIcaN IcE COMPANY . 15 EXCHANGE Prace Jersey City, New Jersey At a meeting of the Board of Directors, held this day, the following dividends were declared upon the Capital Stock: One Dollar and Fifty Cents ($1.50) per share upon the Preferred Stock Seventy-five Cents (75¢) per share 1=~ (at the annual rate of $3) upon the Common Stock (without par value) such dividends being payable on October 25, 1929, to stockholders respectively of Henry C. HARRISON, Secretary. September 27, 1929. Complete Investment Service GILLET & CO. BANKERS INVESTMENT BUILDING ‘WASHINGTON, D.C. Telephone National 2460