Evening Star Newspaper, October 28, 1929, Page 14

/ 14 _* H 1 1 OBBINS ON STAFF OF BROKER HOUSE l%ormer Manager of Keith’s i 1'Joins Local Office of Eastman, Dillon. | BY EDWARD C. STONE. 'Roland 8. Robbins, for 30 years in the show business and for about 15 years manager of the B. F. Keith The- afer in this city, has joined the local staff of Eastman, Dillon & Co,, start- ing in his new po- sition today. Mr. bbins will be as- sdciated with Ar- thur Foraker, man- r of the Wash- ington office. Mr. Rohbins is a native of Boston and recelved his early education in the public schools of that rity, also completing a busi- ness college course. He was with the oll B. F. Keith Cérporation for 23 and S. Robbins. years, working un- der the direction of E. F. Albee. Com- ing here in 1913, he had charge of the Jocal Keith Theater until a year ago, when the Keith interests were sold to another amusement company. ‘While managing the local playhouse Mr. Robbins had an active part in many civic and charitable campaigns. Some very large sums of money were raised in Liberty bond, war savings stamp and Red Cross drives, which were car- ried on in Keith's and other local the- aters. Mr. Robbins was chairman of several of these campaigns. The newcomer into the brokerage business is a former president of the ‘Washington Rotary Club and is prom- inent in Masonic circles. He enters the financial district with an unusually FINANCIAL Note—For compilation of today's individual sales see 's sales are given in this edition. later edition. glrer 102~ Yester: Stock and Sales— . Low. Dividend Rate. Add 00 High. 57% 384 Abitibl Power & Pap 9 885 AbItiIM P& Ppf(s). 2 84% Adams Exp pf (5). 1 7% Adams Millis (3) 4 13 Aa 5 154 3 24y 1 1% 25 189% 9 84 e 17 61 10'% Albany P W Paper. 1 10% 27% Alleghany Corp..... 151 36 9914 Alleg Corp pf (5%).. 11 105% 92 804 Alleg Cpf (5%)xw., 13 90 854% 241 Allled Ch & Dye (6)." 11 275 125 120% Allled C& Dpf (7). K14 44 Allis Chalm (n) (2).. 304 29 Alpha Port Cemt(3). 42% 224 Amerada Corp (2). 564% Am Bank Note(ft3), Am Beet Sugar. Am Bosch Magn Am Brake Shoe 2.40 1314 Am Brown Bov Ele 184% 107% Am Can (t4). 142 136'4 Am Can pt (7) 1064 80 Am Car & Fdy 120 110 Am Car & F pt (7). 45 AmChicle (2)....... 36 Am Com Ale (k1.60). 23% Am Encaust Til (2).. 50 Am Kuropean Sec... 75'% Am & For Power.... 104 10815 104 Am&For Pwof (7). 1 107 88 Am&For Pw2dpf.. 6 24% Am Hawatlan (1)... 8§ 6 Am Hide & Leather.. 2 30% Am Hide & Lea 2 49% Am Home Prd (3.60) 88 American Ice (3).... 6524 Am Internat (32). 6 894 1 113% Am Loco pf (7). 2 216 Am Metal (3). 8 604 113% Am Metal pf ( 2 125 3% Am Plano. 8 5 8114 Am Pow & 27 97w 9813 Am Pow & Lt pf (6). 1 100% 70 AmP&LDfA (... 2 75 78 Am P&L pf A st (5). &2 344 Am Ra&Std San1%. 863 38 4 2013 Am Republics. . 5 293 1445 1004 Am Roll Mill (€2)... 74% 60 Am Safety Raz (15) Jarge number of acquaintances, and also just after one of the most feverish riods ever experienced by brokerage ouses all over the country. ; Personnel Is Merger Problem. “Not the least interesting of the many problems arising from bank mer- gers 1s the one relating to the effect on the personnel of the merged bank.” says the Current Bankers’ Magazine. “Where the consolidation takes place on. equal terms—where there is a union of banks each substantially strong, instead of the taking over of a weaker bank by one Jarger and stronger—this question may not be of much importance. But when a small or weak bank is absorbed by one that is big and powerful, the mat- ter is one of supreme concern to the officers and employes of the merged bank. Their status can never rem*tn quite the same. Officers will have, ’as a 1ule, less authority, and employes are liable to be demoted. And as one of the objects of consolidation or merger is to reduce operating costs, the least useful portions of the staff taken over will be dropped in the course of time. This will be true more especially if the consolidated bank fails to maintain the volume of business of the combined in- stitutions or to increase it. “There does not appear to be avail- able sufficient information on this sub- jeet to warrant the expression of an opinion on what will be the outcome 'of the consolidation movement in this | Tespect. But one may safely hazard the guess that, as a rule, the officers an#t employes of a merged bank may | expect to sustain loss of prestige and possibly of income as well. | i Main Reasons for Mergers. “Another phase of the matter pre- serits a more favorable aspect. Grant- |ing! that the absorbing bank is the ' stronger and better managed, the per- | soninel taken over will function in an josphere better calculated to develop expert banking than that to which they hate been accustomed. . “Manifestly, the main considerations relating to bank consolidations are those haying to do with profits to the share- holders and service to the public. The expiectations are that profits will be in- credsed. Such expectations would seem to fest upon reasonable ground, though here also the actual result awaits further experience. It has been well salil that the big bank must continue to give the required public service, for this is the main source of profits. “iFhe two considerations named out- "L-'lrh the mere personal status of offi- cers and employes of an absorbed bank, but! it will be interesting to note the effects of the consolidation movement upan the personnel of the latter never- theless. A man's job is something in which he rightly has a deep concern.” The Bankers' Magazine views are of particular interest to Washington, where it is commonly believed that proposed metgers might have gone through had it not been for the problem of taking care of the official personnel. If the merged bank takes over all the officers of both banks on the same footing the expected economies are lost in the pay- ment of higher salaries than the new institution can stand. Fair Trading on Exchange. Trading was fairly active on the ‘Washington Stock Exchange when the week's business opened today. Bonds were again in quite good demand, al- though there was less buying than on Friday and Saturday. Bank stocks appeared on the board In several small lot orders and at re- cent price levels, or a bit lower. ‘Twenty-two shares of Federal-American National sold at 300. A five-share lot of American Security & Trust came out at 460 and six shares of Merchants’ B:xlxgoa ‘Trust Co. stock changed hands at; ' Fve shares of Union Trust Co. regis- tered 320 and a single share of Riggs Netional came out on the board at 581. Capital Traction opened lower, sell- ing at 80 and closing at 81. The day's sales in this issue amounted to 70 shares, all in small lots. { Heard in Financial District. William C. Johnson, assistant to the president of the Federal-American Na- tional Bank, was back at his desk today after a three-week vacation passed in the Blue Ridge and ex- tensive motor trips both in Maryland and Virgiria. Edison B. Olds, treasurer of the Union ‘Trust Co., has returned from his an- nual vacation, which included visits to_Atlantic City and New York. Eliot H. Thomson of the Washington Loan & Trust Co is on a motor trip to Atlanta to attend the annual con- vention of bank advertisers. Southern Railway net operating in- come, $2,720,489, against $2,650,791 in September, 1928; nine months, $22,- 891,062, against $21,026,524. September net operating income of first 27 railroads reporting was $53.- 869,000, decrease, 2.8 per cent from September, 1928. Senator Norbeck, chairman of the Senate banking and currency commit- tee, doubts if the King resolution call- ing for an investigation of the Federal Reserve Board and of brokers' loans will be taken up before the next reg- ular session of Congress. Views on Market Divided. Opinion is much divided in the local financial district as to the immediate future of the stock market. Investors and speculators believe that there are some fine bargains. At the same time they fear further distress selling in the readjustment of accounts. Louis Guenther, publisher of the Financial World, said in New York to- day that he has perfect confidence that the general business situation is sound and that the national credit situation is also secure. .“Buy lmdrbckl with rising earnnigs outright ane them in your strong Ehfihfl l:‘fi - 48% 35 41% 30 Am Seating (2)... 7 2 Am Ship & Com. 130% 93% AmSm & Ref (4). ht 85 645 Am Stores (12%)... 94% 71's Am Sugar Rfg (5) 3 72% 111 102% Am Sugar Rfg of(7). 1 105 - 4 3N 1 23% 113 263 10 215 27 214 1118 2 145 34 105% 11% 4 30% 7% Am Writ Paper ctfs. 4 8% 10% Am Zinc LA&Sm 10 14 111% 79% Am Zine pf (6)...... 1 80 92 Anaconda Copr (7).. 396 102% 62% Anaconda W&C (3).. 80 43 Anchor Cap (2.40) 68% 42 Andes Copper (3). 49% 29 Archer-Dan-M (2) Am Tobacco (8 235 160 Am Tobacco B 121% 115 Am Tobacco pt (: 181 136% Am Type Fdry (8) 199 67% Am Water Wks (c1). 67% Armour Ill pf (7' 40% 12 Arnold Constabl 58% 45 Asso AppllInd (4). 70% 41% Asso Dry G (2%). 298% 195% Atch T &S Fe (10).. 104% 99 Atch T&SF pf (6)... 209% 169 Atl Coast Line 867 32% AtlG & W Indl 77% 40 Atl Refining (t 140 90 Atlas Powder (4)... 514 Auburn Auto (34)... 11% 5% Austin Nichols...... 35% 22% Autosales... - 45% 36% Autosalespf (3).... 50 38% Auto-Strop Raz (3). 20 9 Aviation Corp. Del... igu 15 Baldwin Loco (new). 84 321 145% 115% Baltimore & Ohlo (7) 40 127% 90% 60 Bang & Aroos (3%).. 4 72 29% 4% Barnet Leather..... 2 4% 49% 207% Barnsdall (12%) 113% 80 Bayuk Cigar2).. 1 75 32% 20 BeaconOfl.... 3 23 131 934 Beatrice Cream (6).. 3 106% 70's Beech-Nut Pack (3).. 3 77 9 Belding-Heminway.. 2 9% ' 2 78% 89 46 1 103% <3 180 g9 49% 20 117 6 220 62 10% 140% L 161 102% 128 824 Bethlehem Steel 116% Bethlehem St pf (7). 40% Bloomingdale Bros. . 50 Bohn Alumn&B (16). 10 3% Booth Fisherle: 73% Borden Co (3). 35 Borg Warner (4). 85 Boston & Maine. 3 40% 69% 1 . 73 17% Briggs&Stratton(2). 3 20% Brockway M T (3) 5 57'% Bklyn-Manhat (4) 79 Bklyn-Man pf (6 4 83 1214 9 Brooklyn & Queens.. 2 9 2481 160 Bklyn Union Gas (5). 19 154 511 86 Brown Shoe (23%)... 55% 29% Bruns-Balk-Col(3 44% 10 BrunsTer & RyS. 42% 22 Bucyrus £rie (1). 50 85% Bucyruscvpf (2% % 10 Budd (EG) (t%). 40% Bullara Co (12). 44% 94 Burns Bros A (8). 987y 22% Burns Bros B. < 1N 96% 59 Bur Add Mach 180, 150 65 8914 42'% Bush Term (g2)..... 3 45 3 ButteCopper & Zinc. 7 3% 6 Butte & Superior (2). 1 6 192% 76 Byers (AM)........ 10 107 4Tt 31% By-Prod Coke (1)... 29 34% 847 70% Calif Packing (4)... 8 T4% 4 1% CallahanZinc&L... 8 1% 136% 105 alumet & Ariz (10). 61% 28 Calumet & Hecla(4). 46 384 49'5 25 Campbell Wyant (2), 11 32 98% 60 CanadaDryGaA (6). 16 76 2657% 200 Canadian Pac (10) 27 211% Cannon Mills (2.80) 65% 44% Cap Adminstratn A. 210 Case (JI) (6). . 14 Cavanagh-Dobb: Celotex (3). - 30 Cent Aguirre As1%.. % 40% Cent Alloy Steel (2). 360 300 CentRRof NJ (112). 4% Century Rib Mills. .. 120 80 Cerro de Pasco (6).. 32 16% Certain-teed Prod 8115 47% Certain-teed pf..... #0% 46 Checker Cab Mfg Co. 279% 195 Ches & Ohio (10).... 92 71% Chesapeake Corp (3) 2314 46 551 5 237 3% 1 80% Chi1 & N W (4) 145 Chi &N W pf 47% 28 ChiPneuTool.. 61% 48% ChiPneu T pf (3%). 143% 115 ChiR1& Pao (7) 109 105% Chi RI1& Pacpf (7. 50 30's Chickasha COil (3)., 75% 447 Childs Co (2.40). 135 43 Chrysler Corp (3) 62% 49 City Ice & F (3.60). 21 7% City Stores (1).. 72% 41 Cluett Peabody (5) E 154% 120% Coca-Cola (4).. 23 140% 50 46% Coca Cola A (3) 3 474 7214 20 Collins & Alkman 16 28% 781% 33 Colo Fuel & Iron. 30 47% 135 101 Colo & South (3). 140 53% Col Gas& El (2). 109 103% ColGas& ElpfA6). 5 107 88% 27% Columb Graph(87c). 200 35% 344 121% Columblan Carb(16). 7 205 62% 30 Com Credit 12) . 20 37 424 Comm Credit A 461% Comm Invest Trus 361 Comm Solvents (n 13 Commé&So (b5 %stk: 11 Congoleum-Nairn. 6 54ny 7128 51 10% 6 116 3 41% 154 91% 18% Consol Film pf (3) 95% Consol Gas (3).. 96% Consol Gas of (5). 50 Consol RR Cub pf(8) 1% Consol Textlle. 23% Container Corp A. 11% 90 16% 100 881 Contl Baking pf (8).. 63% 50 Contl Bank NY 139, Low. 45 150 2% 6 10 3014 104 BN 242 48 1% 40 50%% 11 136% 82 113% 41 201 54% 125 4% 8214 100 1% 10: “ 23% 240 200 197% 118 145 83 11 284 % 11 80 951 69 103 177 70% 4274 1001 175 9 25 120 67% 419 75 22% 100 74 9744 66 6% 15% 32% 23 4013 987 2914 59'% 431 5% 80 28% 1% 1% 3614 31 T1% 203% 46 225% 68% 5% 5314 125 108 136! 47 21% 41 7615 10 A% 104 247 11221 121% 121% 144 2 141% 141% 141% 82 113% 44 201 54% 125 5 90 100 7% 204 203 118 145 7 261% 2544 255 103% 177 0% 427 1001 67% 414 . 25 ‘2_7‘4 25% 25 75 22 100 7 127% 126% 126% 381 40 €6 4 72 44% 125 25 65 15% 32 23% 69 60% 55% 57 98 29% 5914 434 3 5% 90 294 744 1% 4 111% 106% 1063 361 203% 227 25 531 125 108 2 103% 100% 100% 82 28 30% —Prev. 1029~ High. Low. 92 0 110% 28, 47% G _STAR, WASHINGTON. D. C., Stock and Dividend Rate. Conti Can (24 . 86 Contl Insurance (2). Coptl Motors (80¢).. Contl Ofl of Del. Crex Carpet. Crossley Ra: i Crown Cork & Seal Crucible Steel (6). Cuba Cane Sugar of. Cuba Co. Cuban-Amer Sugar.. Cudahy Packing (4). Curtis Pub (16%)... Curtiss Wright Corp. Curt Wright Corp A. Cutler-Ham (33)... Cuyamel Fruit, ¢ Davison Chem...... Delaware & Hud (9). Del Lack & W (17) Drug Corpn (4)...... Dunhill Inter (34)... Du Pont de N(t41% Dupont 4 N deb (6. Durham Hosfery. East Roll Mill (134). Eastman Kodak(18). Eaton Axle & S (3) Eitingon-Sch (2%).. Eitingon pf (6%). Emmerson-Brnt A, Endicott-John (5 4 Endicott-John pt (1) Eng Pub Serv (f1).. BrioeRR..c..... Erle R R 1st pf (4).. Equitable Bldg(2%). Fureka Vac Cl (4)... Evans Auto L(22%). Fairbanks Morse (3) Fash Pk Asso(k2%). Fed M & S pf (7) Fed Motor Tr (80 Fed Watr Ser A 2.4 Fid Phen F Ins (2) Filene's Sons. , Fllenes (ctfs) First Nat Store; Fisk Rubbe Florsheim Shoe A. Follansbee Bros (3). Foster Wheeler (1).. Fox Film A (4) . Freeport-Tex: Foundation Co. Fuller pr pf (18 Gabriel Snub A wa = < el mnrRienmBien Gen Asphalt. Gen Bronze (2) Gen Cab] Gen Cable A (4). Gen Cigar (4) . Gen Electric (16)... Gen Elec spec (60c). Gen'l Food Corpn (3) Gen Gas&El A (e1%) ° Gen Mills (t3%) Gen Motors (13.30).. Gen Motors pt (7)... Gen Outd Ad vte (2). Gan Outd Adv A (4). Gen Public Serv(bé) Gen Ry Signal (5)... Gen Refrac (t4) 1 Glllette Saf Raz(c5). 268 Gimbel Brothers. . 3 Gold Dust pf (6).... Goodrich BF (4).... Goodyear Tire (5). .2 Goodrich pf (7). Goodyear st pf (7).. Gotham Silk H (2%4) Gould Coupler. Granby Copper (8 Grand Stores (1).... Granite City Stl (4).. Grant WT (1)... Greene Can Cop (8 Grt North pf (5). Grt North pf ct (5).. Grt Nor Ore (a1%).. Grt West Sug (2.80). Grigsby Grunow (2). % Gulf Mo & North. . Gulf Mo & N pf (6) Gulf Sta Steel (4). Hahn Dept Stor Hercules Mot (1.80)., Hershey Chocolate. Hershey Choo pt (4). Hoo (R) & Co. .- Holland Furn (e2%). Hollander & Son..... Homestake Min (17). Houd Hersh B (1%). Hsehld Fin pf $3.10.. Household Prd (14)., Houston Oil.......... Howe Sound (t434).. Hud & Man Ry 3.50.. Hudson Motor (5)... Hupp Motor (£2) I1linolx Central (7) Independ Ol & G (2) Indian Motor Cycle.. Indian Refining..... Indian Refining ct. .. Industrial Rayon. ... Ingersoll:Rand 1614 . Inland Steel (3%). Inspiration (4)...... Interboro Rap Tran.. Intercontinental Ryb Intl Agricultural.... Intl Agri prpf (7). Intl Business M (5 3 Intl Cement (4) Int Combustio Intl Cmb Eng p Int Hydro El A (e2). Intl Harvester (234). Intl Match pf (3.20)., Int Mer Marine etfi Int Nickel of Can(1). Intl Pap & P A(2.409. Intl Pap & PwrC.... Intl Print Ink (2%)., InItl Rys'Cnt A ct... Inter Dept St (2).... Intertype (f1134). Investors Equity(2). Island Creek Coal(4) Jewel T Johni Do Jordan Motor Car.... Kan City Sou (6).... Kaufmann DS (1%). Kayser.Jullus (4)... Keith-Albee-O pf (7) Kelly-Spring Tir Kelsey Hayes (2). Kelvinator Corp. Kennecott (5). aa e Kress (SH)Co (n1)., Kreuger & Tol(1.34)., Kroger Gr&Bak(c1). Lago Ol1 & Tran Lambert Co (8). Les Rubber & Tire. Leh Port Cem (2%). Lehigh Valley Coal.. Leh Val Coal pt Senlnaimbectwon e mi ¢S~ = Lima Locomotive... Link Belt (2.60 . Liq Carbonic (14%). Loew's Ina (2) . Loew’s Inc pf (6%). LoftIne........ Long Bell Lumb A’ Loose-Wiles (2.80).. Lortllard (P) Co. Lorillard (P) pt (1) 1 Loulsiana Ollessevem 23 Sales— g Prev. Add 00 High. Low. 2:55. Close. 61% 62 73 13 6014 9% 79% 106 -106 99 99 27% 27% Y Sig ~Prev.1920—~ Stock and High. Low. Dividend Rate. 2% 35% LOuG & E1A (1%). 154% Louts & Nash (7). 1 1087, Ludlum Steel (2). 4 Ludium St pf (6%). Mac A & Forb(12.85) McKe ort T P (4). McKesson & Rob (2) McKes & Rb pf(3%). McLellan Strs (20¢). Mack Trucks (6).... 24 Macy (RH)&Co(et8) 22 Madison Sa G (1%)., 1 Magma Copper (5). Mallinson & Co. .. 12 Manati Sugar pf Mandel Brothers. Man Elec Supply . Man Elev mod (d5) Man Shirt (2).. Maracatho Ofl Exp.. Market St Ry pr pf.. Marlin Rock (13%)., Marmon Motor (4).. Mathieson Alk (e2) Hay Dept Stors(e2) Maytag Co (12). Maytag Co pf (3). Melviile Shoe (1.40) Mengel Co Mexican Miami Cop Mid-Continent P ( Middle States Ofl. ... Middle States Ofl ct. Middle Sta ctfs (n). ., Midland Stl pf(+12). Minn Honeywll 133, Minn Moline Pw Minn Moline pf 63 Minn & St Louts i Mo Kan & Texas. .., Mo Kan & Tex pf(1). Missourt Pacific. ..., Missourt Pac pf (5).. Mohawk Carpet t2% . % Monsanto Ch (g1%). 2 Montgomry Ward(3) 856 Moon Motor (new). Morrell J (3.60) Mother Lode (40 Motion Pietu Motor Meter G . Motor Products 110 Motor Wheel (4). Mullins Mfg. . Munsingwear (t314) 4 Murraay Corp (k8)., * My€r(FE)& Bro (2). Nash Motors (§). Nat Acme (1%) Natl Alr Trans. Natl Bella Hess(21). Natl Bel Hes pf (7)., Nat Biscult (17%).. Natl Cash Reg A (14) Natl Dairy(cl1%) Natl Radiator pf.... Natl Rys Mex 2d pf. 3 Nevada Copper (3). Newton Steel (3). N Y Alr Brake (3) N Y Central (8 N N N N YChi &St L (6). Y Chi & St L pf(6) Y Dock pf (5).. Y NH & Hart (5). Norfolk South (2% ). Norfolk&Wstn(110). North Am(b10 % stk) North Am pf (3).... North Am Ed pf (6) Nor Ger Lloyd(3.41). Northern Central (4) Northern F'ac (6).... North Pac et (5). 011 Well Supply. Oliver Farm Eq Olivr Fr Ep cv pt(3 o e Da o me ot N~ Otis Elevator (15). Otis Steel (2%) Otis Steel pr pf (7 Owens 111 Glass (4) Pacific Gas & B (2).. Pacific Lighting (3). Pacific Ol stubs, Packard Motor. Pan-Am Petrol Pathe Exchange Patino Mines (3.89) Peerless Motor Car. Penick & Ford...... Penn Coal & Coke. . Penn Dixie Cement. . Penn Dixie Cm pf(7), Pennsylvania RR(4) Penney (J C). - People’s Gas Chi (8). Pere Marquette (18). Pet Milk (1%). Phelps Dodge (3) Phila& Read C& Philip Morris (1). Pillsbury F1 (12%) Pirell1 Co A (2.88 Pittsburgh Coal Pittsbgh Serew 1.40., Pitts Terminal Coal. P Rican Am To (A)7 P Rican Am To (B).. 4 Prairie Oll&Gas 123§ Prairie Pipe L t4% Pressed Steel Car Pressed Stl C pf ( Proc & Gamble (2) Prod & Refiners Pub Sve NJ (2.60) Pub Sve NJ pf (6) Pub Sve NJ pf (1) Pullman Corp (4).. Punta Alegre Sugar. Pure Ol (1%4) el Purity Bakerles (4) Radto Corp. ... Radio pf A (33%4). Radio pf B (5). . Radlo-Keith-Orph A. 4 Rallway & Exp (2).. Raybestos Manhatn, Reading (4).. . Reading 2d pf (2) Real Siik (5). Rels (R) & Co Remington-Rand. Reming-Rnd 1st (7). Reming-Rnd 2d (8).. Reo Motors (11.60) . Rep Brass A (4)... Repub Ir & Steel(4).. Rep Ir & St1 pf (7). Reynolds Spring.... Reynolds Tb B(2.40) i Rhine West (1.92)... Richfield O11 (2)..... Rio Grande O1l (k2), Ritter Dental (2% ) Rossia Ins (2.20). Royal Dutch (a3.20), 195% Safeway Stores (3).. 94 9 St Joseph Lead (13). 133% St L-San Fran (8) 9614 St L-San Fran pf (6) 115% St L Southwestern. . 51% 34 Savage Arms (2).... Sales— Prev. Add 00 High. Low. 3:85. Close. MONDAY, OCTOBER 28, 1929 FINANCIAL, ~Prev. 1920~ Hieh. Low. 4l'y 21% 2 31 39 139 60 37% 139 49 4l% 4 Seag: 4 Shattu Skelly Snider & Snider So Por Spicer Spicer Stand Starre Symin, Texas Texas Texas Texas Third Truax Unton Unton Union Union Utd Utd Gi ceeccacae nRRBRERN St U S St 83 22% 23n 6 Warre: Webst Wes Westn, Westn, Westv: White White White White Whi Worth Young Young Zenith RIGH Domin, Gen. A Sim'on; Sales of 0 A M., cash payments base ' | laration. §Plus no 4% s 314 4% 71 tock. = d P ! 10% 1 . 31% 34 iPlus 8% b stock. Stock and Dividend Rate. Schulte etall Strs.. 44 Seaboard Alr Lin 6 Sears Roebck (312%) 234 122 Second Nat Inv Corp Shell Union ( Shubert Theater (5). Simmons Co (3). Stmms Pet (1.60). . Sinclairon (1235, Sinclair Oil pf (8). Sun Ol (p1). . Superior Oil. . Superior Steel. Sweets of Amer (1).. U S Tobacco (4). Univ Leaf Tob (3).. Univ Pipe & Rad.. Util Pwr & Lt A (e2) Vadsco Sales. Vadsco Sal Vanadium (14). . Vick Chemical(2%).. Virgini 4 Virginia-Car 6% of. Virginia-Car §f (7). B RPN 3325 - o Waldorf Systm (13%) Walworth (1.20).... Wara Baking B. Warner Bros Pic (4). Warn Br P pf(2.20). Warner-Quinian (2) Warren Fdry & Pij Wess Oll & Snow(2). O & Snpt (4).. Western Maryland.. Western Md 2d pf. .. Western Pacific..... Western Pacif pf.... Western Union (8).. W eston £ Instru. Wextark Radio (e2). Wilcox Ofl & Gas, Wilcox Rich(A)2% .. Wilcox Rich B (c2).. Willys-Over (c1.20). Wilson & Co... Wilson & CoA.. Wilson & Co pf. Woolworth (2.40). Wrigley Wm (4).... Yale & Towne (4). Yellow Truck & C. Am. Roll. M.Nov. 15 Arch-Dan M .Nov 12 Bangor&Aroos Nov 9 Bucyrus Erle..Dec 2 Zase (JI) .. 4 Col Carbon .. Gimbel Bros.Nov. 6 May Dept S . No Am Co. Sharon Ste Dividend rates SUDIL 01 Lrading uss than 100 shares. ISTOCKS DEPRESSED Sales— Prev. Add 00 High. Low 2:58 Close, 115 11% . 11% 124 4% 14 14 UM% 13% 12% 12% 114 115% n7 117 3% 3% ve (e1.20) 4 1117 11 Sharp & Do pf (3% ck (F 3) (1) 40)... o1l (2) Sloss Sheffield steel.. Packing..... Packing pf. Sclvay Am In pf 5%. 10 R Sug t2%. outhern Cal EA (2). uthern Dairies B.. Southern Pacific (6). Southern Rwy (8)... Spang-Chalfant. ... 4 Sparks Withngtn(1). Spencer Kelg(1.60).., Mtg. . Mfg pf (3). Spiegel-May-St (3).. Brands (1%)., Stand Com Tob (1) Stand Gas & El (3 Stand G & E pf (4) Stand Inv Corp (b§ Stand O11 Calif (13). Stand O1I N J (12)... Stand Ol N Y (1.80). tt(LS)Co(2).. Sterling Sec A)..... Sterling Sec pf(1.20) Sterling Sec cv pf(3) Stewart Wi nsK). gton A..... % Telautograph t1. Tenn Cop & Ch (1) Corp (3)... Tex Gulf Sul (4) & Pac (5). P C& Oil (b6). Pac Land Tr.. Thatcher Mfg. .. Thatcher pf (3.60) The Fair (2.40). Avenue. Tide Water Asso. ... Tide Wat Asso pf(6) Timkn Det Axle 1300 Timken Roller (3) 4 Tobacco Prod 1 “Tob Prod ctfs 1. Tobacco Pr A ( . Tob Prod ctfs A 1.40. Transcontinental, Trico Prod (2% ). Traer (1.60)., Truscon Stl (£1.20). Twin City Rp T (4).. Underw-£1-Fish(4).. Bag & Paper. . Carbide(2.60). Un Oll of Cal (32) Pacific (10) Pacific pf (4, Utd Afrcraft&Trans. Utd Alrcraft&T pf 3. Utd Biscult (1.60) United Carbon . Utd Cigar Stori Unit'd Cig St. ctf (1) United Cigar Strs pf., Utd Corporation.... Utd Corp pf (3)..... Utd Electric Coal(3) Utd Fruit (¢4)...... (1), s & Imp (4).. s & Ilm pf(5).. Utd Paperboard. .... Utd Plece Dye Wks, United Stores A..... United Stores pf (6). U S Distributing. . .. U S & Foreign Secur. IN BEARISH ATTACK Market Sags Again Under Heavy Selling Pressure. Leaders Hard Hit. By the Associated Press. = NEW YORK, October 28.—Deprived of the banking support which many traders understood had been arranged for last week, the stock marxet plunged downward in spectacuwar fashion again today as “bears” renewed their assaults on theM&rket and thousands of weak- ened speculative aecounts were thrown overboard. Prices of scores of issues broke 5 to 45 points, with most of the leaders selling below the low levels reached in last Thursday's record- breaking session. Trading was again in enormous volume, with the ticker falling an hour behind the market by early afternoon. Total sales crossed the 3,000,000 share mark before mid-day, with indications that the day's total would run well over 8,000,000 shares. Day's News Disregarded. Indications that bankers might again be called upon to stem the tide of selling were seen in the visit early this after- noon of Charles E. Mitchell, chairman of the National City Bank, the coun- try’s largest banking institution, to the offices of J. P. Morgan & Co. Unless the tide of selling is stemmed, other. bankers probably will be called into conference. oL ‘With the market undergoing another drastic “cleaning out” process, little at- tention was paid to the day’s news. Nothing happened over the week end to alter the views of President Hoover and leading bankers that fundamental busi- ness conditions were sound, and that there was no sign of a general recession in industrial activity. Directors of the General Refractories Co. today declared an extra dividend cf 25 cents and raised the annual rate from $3 to $4. Wall Street is fervently hoping that good news Will be forth- coming from the quarterly meeting of the United States Steel Corporation after the close of the market tomorrow, Several weeks ago there were rumors of a possible stock split-up or extra dividend on steel, but these gradually disappeared as the date of the meeting approached. General Electric Hard Hit. General Electric was the hardest hit in today’s selling, breaking 43'2 points to 254, as contrasted with a low of 283 last Thursday. Westinghouse Electric broke 2974 points to 150, Western Union fell 27Y, points, Johns Manville 26% and Case Threshing 25. American Ca Standard Gas & Electric, Unde! Elliott Fisher, Eastman Kodak, Chemical, People’s Gas, American Tele= phone, International Business Machines, Air Reduction &nd A. M. Byers were considerably lower. ¢ THIRD FOOD MERGER IS BEING COMPLETED By the Associated Press. NEW YORK, October 26.—The third large merger of food and household products companies to be put together within the past year is being arranged by the National City Bank interests and wil: be grouped under a new hold. ing company to be called the Interna- tional Quality Products Corporation, it 43 109% 33 191% 16 Leather A (4)... 7 2 31 2 25 Pipe & Fdry (2). Realty (5) Rubber.. Rubber 15t pf. .. Smelt Ref (3%). 20%% 81 eel (7).....00. eel pf (7). Car Chem. . n Bros (15). er-Eisenlohr. Dairy (B). gh Alr Brk(2). gh EI&M (4).. 615 275 2 BI% 51t 4013 311y a2l 45 aco Chlor (2). Eagle Oil 12). Motor (1).... Rock M S Sewing Mach. w Mch pf(4) ington Pump.. Spring (3 Sheet & T ( Radlo (2).... TS EXPIRE .Nov 18 ov. 11 . Strs..Nov. 8 8 & sphalt.Nov.27 17 bl 3 Nov— ‘5 % -Nov 16 275 21 H,, rt 2 8 824 s Co. 5 66 B W Stocks on New York Exc! 816,600 12:00 Nnon..‘-“ 5.547.900 2:10 P.M.. as given in the above table are on" the Iatest guarterly oo r” Balf Yearly tParity exira, l':‘.l 33 In preferred stock. Plus 1-25 in stock. egular rate. b Payable 3 ula Payable in stock. "e Plus h% Pl 6% %in 1 z Plus’ 3% i stock D0 4% 1o stock! TODAY'S CORPORATION NEWS NEW YORK, October 28.—The fol- lowing is today's summary of all im- portant corporation news prepared by Standard Statistics Co., Inc., New York, for the Assoclated Press: ‘Weekly News Review. The stock market overshadowed all developments of the finapcial world in the past week, as stock$ suffered jone of the worst breaks in market history, the decline culminating in a 12,804,000 share volume o October .24, The market was unprecedented not only in volume, but also as to the extent and rapidity of the decline. Whereas we have just passed through-the biggest bull market in history, the culmination accordingly proved to be a fitting climax from the standpoint of greatness. The movement to dispose of stocks for what- ever they would bring without regard to price or inherent value was only stemmed after representatives of the largest banks in tiie country had con- ferred and determined to support lead- Ing investment issues. ‘While some recovery took place in the last two trading days of the week, the market might be characterized as hav- ing become stabilized rather than hav- ing recovered to any appreciable extent. ‘Those stocks which were hit the hard- est were the public utilities and spe- clalties, groups which had been at u&(‘nw from ‘Teas sonable earnings yardstick. Unseasoned issues also were liquidated heavily. While attention of the financial com- munity was entirely focused on the melting away of stock values, ‘sever: financial developments of a not ul"1 favorable nature were passed over with little comment. The pond market made a Turther substantial recovery, foreshadowing that ample credit and cheap funds will pre- vail for longer than a temporary 3 Call money was in supply at 5 per cent, while time rates declgltd to Y,a6% per was learned today. Through this company will be ac- complished the long rumored merger of ! the Hershey Chocolate Co., the Kraft 'Phenix Cheese Corporation and the Colgate-Palmolive Peet Co. It is ex= that other units will be added from time to time. The new company is expected to have a capital and sur- ¢ | Plus of more than $150,000,000. Formation of this organization fol lows closely the organization of Stande ard Brands, Inc., under Morgan spon= sorship. The Morgan concern has ace quired control of the Fleischmann Co., Royal g Powder Co., E. W. Gil- lette Co. and Chase and Sanborn. It has recently arranged to acquire the Widlar Food Products Co. . ‘The other large compa.; which has been recently expanding iy this fleld is the General Food Col tion, spon- sored by E. F. Hutton & (9. This con- cern built up a long line of products over a period of years under the Postum Co., which was changed to General Food Co. this year. This year's acqui- sitions include Certo Corporation, Dia- mond Crystal Salt Co. and North A lantic Oyster Farms, Inc. - Crude Petroleum Prices. NEW YORK, October 28 (#).—The average price of crude petroleum in the 10 producing fields was unchanged last week from the previous week at $1.652 a barrel, compared with the average price for the correspondin, year at $1.634 a barrel, the Oil, Paint and Drug For the third year in sccession Glas- gow, Scotland, lost $20,000 from its open-air concerts this year, and may abandon them. —_— N N INTERNATIONAL FPAFER AND POWE Boston. Mass., Oct. 9. 1929. The Board of Directors has deciared & regular quarterly dividend of sixty cents 60c) on the ss A Common Stock of this payable November 15. 1929, "%, Checks'to be malicd. . 1929. s ‘maile Transter books will not close. ' °° R. G. LADD. Asst. Treas. « “Trusteed Shares” An_actual 'ship com- mon “Stocks OF 100 1cading ‘American Corporation: The origh Investment n market value over 50% from AiViiends fbf The Samplers yeur o ed July 15. lfll":L t‘l rate of 9%. The Standard Collateral ation 'oodward Blds. Mony Loan red by first deed of trusi Frevaiting interest and commissions ™ '* Shares Metropolitan 3783 i+ | Joseph I. Weller 42, Wasb. L. & Tras We Buy and Sell | Liberty Bonds | Treasury Notes | Etc. Bond Department The Washington Loan and Trust Company cent, supplying another sign that con- tinued cheap money is in immediate prospect, Y Hail, averaging an inch in diameter, recently destroyed the entire fruit crop in the vicinity of Knatzenburg, Ger- 900 F Street 620 17th Street