Evening Star Newspaper, October 29, 1929, Page 15

smmeweret” RINANCIAT) ¥2¥ 15 MILLER CO. TAKES NEW SALES STEPS < Train Control Concern Signs Agreement for Handling of Trafilators. FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, TUESDAY, OCTOBER 29, 1929. BURB SHARES DRUP COMPLETE TRANSACTIONS ON THE NEW YORK CURB MARKET Acams Exp (new).. 1 % Aeronautical Indust. 9 Aero Suppl i 99 Further Slump Hits Market.| 48 194 Aero Underwriters: Stock and Sales— Dividend Rate. ~ Add00. Open. High. Low, s Union Amer Invest.. 5 35 Un N G Can (11.60). United Carbon pf (1) 1074 107% Utd Carr Fastnr 1.20. 2 4 12 United Corp war.... % 147% United Dry Docks. United Elec Ser. —Prev. 1929~ ) 5 Stock and Sales— Stock and Sales— High. Low. Dividend Rate. Add 90. Open.. . Dividend Rate. Add 00. Open. High. Low. 3:15. Gen Theat Equip vte 40 11% Selected Industries. 47 10% 10 10 Gen W WE&E A (2).. 83 SelectInd2dpd4%.. 8 76% T6'% T5 Gilbert (AC). Selfridge Prov S 27e. 1 3w £ 3 Gilbert (AC) (312). Sentry Safety Cont. . 4 6 6 5% % Glen Alden Ceal 110) Ir:nu;‘l'n ‘;J‘ & r"(‘zl) vee 1‘1’ 2;1,\ :’;g 70 30 sworth Mf 215 . Goldbg Stores pf(7). Sheaffer Pen ( cee 2% 2% K 6 Air ]n\'?llor!\‘!lxt% 3 9 7 5 5 7y " Gold Seal El n Shndoah Corp(b6%): 51 167% 117 Many Issues Tumble to “ 46y . T 4 4 Golden Center Shenan Corp pf (3).. 43 167 1324 Alabama GtS pf 3 5 i Golaneid C:v:‘:lgllil‘l’. Silver (lnanc) Bros. 4 5 11 eny rp. Goldm Sacl « et, 2 5 5 New Lows' f* :Hl’:flhA\ll?l.o‘rlco i 4 4 Goth Knitbaec Mach. Singer Mfg (122%). 4ls 49 490 Unit P&L pf (6) 88 Allied Motor Ind 1. 2 23 Gramaphone (2.19).. Sisto Fin Corp.... 6 5 UnitedMilk Prod 40% Allied Pow & Lt. « 153 31M Graymur Corp...... Sonora Product ¢ USDairy A (4). By the Assoclated Press. 41% Allied P & L pf u)_, 1 4% 44T GrA&PTnv(5).. % So Am Gold & Plat $ :Yglgrl:yl:l.. het NEW YORK, October 29.—The wild 74 ANP&LIstpfS... 7T 79% 79% Gt LakesSteel pt pf. South Penn Oil (2) 7 S Fininshing (32). - 7 114 Allison Drug StA... 2 1% 1% frenzy of liquidation on the New York 17 AlisonDInEREB. .. Greenfield Tap&Die. EP&L(®). U S Gypsum (1.60).. Y 3 1 Ourb ;Exchange reached the most dis- | 5391, 146 Aluminum Coof Am. 6 26015 280 Groc Stors Prod vic. § 13 war. US&InSetf (2%5). Ground Griprit1%). 3 3 3 3 313 : S PrA(IY) US}EL[::.! A astrous proportions of the movement | 108% 103'% Alum Co Ampf (6).. 4 107 107 Guard F Assn (2) pEB(236). mm;:?;“(fl).'m. today, many shares selling at mere frac-| 41 25 Alumin Goods (1.20) 25 25 ; Guardian Invest. s UtilA.. { Rubber Reclaim. ! Lt 5 47% 35 Am Arch Co (3). : ¢ 36% 30 Guenther Law. 1 S0 Col Pow A (2) nit Sh Mch (+31g). Cerning the progress of the company. tions of their recent high levels. The| ;5 C 110 10 « T oo e 11345 Ti0Bn31n 130% S0 Tee & Utilities B. . it Vorde Ext (4).. 6| AN incerante MAviSR SRt LS Tutérs first failure of the wild panic of selling | 23 : it ARSI e i) T Southiand Roy (1) was that of & curb member, John J.| 49% 16% Am Chain. 2 40 HApCA (b140).... 4 § W Dairy Products. e . z | c e T T Bell, who was suspended this morning. | 49% 16 Am Colortvpe(t 6 20 36% Haygart Corp....... 63 0" S el {’,";’;’ ‘"""5'0 T, % | the Miller taduction tram control on It was pointed out, however, that he| 31% 201 AmCom P A (330c). 70 2 Hazeltine Corp (1).. e s Otorciemy b < i " the Monon Railway. This installation was a’private floor trader and did prac- # AmControlOilFlds.. 20 Hecla Mining (1)... b Loty Util & Ind pf (1%) .+ was furnished by the General Railway tically no public commission business. 30% Am Cyanam B (1.60) 180 Helena Rubenstein. . St Ol of In;lz" , Signal Co., licensee of the Miller com- The quoted values of utility shares 9 6 Am Dept Store: 22 Hires (CE) A (2)... St Oil of Kar % disappeared with amazing swiftness. Am Equities, 20 Hollinger Gold (60¢) s Lt g *| pany, and extends from Chicago to E Indianapolis, 160 miles. Electric Bond & Share opened off 343 5214 Am For Power war.. 51 40 40 Homaokla Of} o B LV Sl i Stockholders are also notified that an ints at 507, subsequently rallied to | 224% 1251 Am Gas&Elec (31) 189 1241 128 Hormel(Geo) (1.50). 4 BiandPow&LE. .. - 8 1;§‘~ 1'1“;% “{lel"ém (“PNH agreement has been entered into be- 0, and again started skidding. Electric | 109% 99 'Am Gas&Elecpf (6). 2 104 104 49% Horn & Hard (2%).. 11 St Pow & Lt pt (1) il v"“c:"",,';fl'“,' tween the Miller company and the Investors tumbled 50 points to 75. hav- 9 Aminvestino®.... ;: l; 4 ]m o 3 6 Hudson Bay M &S.. Starrett Corn:. e :’2%)* . Crouse-Hinds Co, of Syracuse, N. Y., ing soid a few months ago above 300. It S G L D B S i 89% Humble Ol (12) ... Steln (A) & Co. . Viek Fin Cor granting the latter company a license rallied a little from its bottom level aob et X,;,‘f a1 “‘/' 43 - .. 14 'HuylerSteres of Del StelnA&Cocu pf 6% . Ve Railvay ote to sell Miller “trafilators” throughout American Superpower reached new low [ 53 371 Am Maize Prod (2).. 33 384 15% Hygrade Food Prod. Straday (NGLhun). g i the United States and Canada. Speak- ground for the present stock under 17.| A% 24 Am Maracaibo...... 26% Imp Ofl Can n (50c). Strauss Roth. . 18% Waitt & Bond A (2). ing of this agreement, H. B. Miller, vice Commonwealth Edison, Allied Power,| jo® o 200 5 ll 0 LG Indiana PL new +2% Strombg-Car t1.1274 . 5 10% Waitt&Bond B 1.40.. president of the Miller company, said: Northern States A and several «thers B n Avh Sginmanaratis Indian Terr 1llum itz Motor Car. Walgreen Co. “The trafilater is a new and exclusive broke from 10 to 40 points. 7 g8 AmAsTventSGhem. . Insull UL Inv...... Walgreen Cowa apparatus for controling traffic signal Citles Service opened with a block of | N e Insull UtTn 2d pf 6. 508 Walker (H) (1). lights by inductive actuation, involving 115,000 shares off 2% and soon tum- N In AU AT Sower Insurance Sec (1.40) & Walker Mining, the identical principles used in the Mil- bled to 20, where it was off 7's points, 2% A“p;mr"l,a“" P i) Insuranshar of Del, 820s “'\( on (J W) Co... ler train -ontrol system. A device and a5 a new low for the year, con- 14" AHEAR NoLiGo8 850D InsCoN A (12%)... 20 e Pump. E ¢ |similar to that attached to a locomo= trasted to a recent peak .,lf “‘i 4 o"; sl Int Cgr M:h::.?,_ 1: hs i ?!:D(]A’ )1) 5 3 4 805 an | tive, known as a receiver in train con- V, Y ntercontément Pet n 9 22% o generally tumbled sharply, althoug 25% Anglo Chil Nitrate . llntr‘ilvnlnlm sThe. 100 - trol, is buried out of sight in the street —Prev. 1920~ Low. Special Dispatch to The Star. STAUNTON, Va., October 29.—The Miller Train Control Corperation, whose main offices are in this city and Wash- ington, has just made some important announcements to its stockholders con- @ 2 oo EE IR PP T SRR ift & Co (8). wift Intl (2)., ¢ Taggart Corp Tampa Electric (12) Teck Hughes (30c).. Texon Oil & Land. Thermold Co (2). Thermoid eum pf ( 4) Third Nat Inv (1). Thomp Prod A (11) . Thomp-Starrett. Thomp Star pf (3 Expire. Do e Lerner Stores Co P Ley (F T) &Co (3). Libby McNell & L. .. ¢ Lily Tulip Cun Corp. they had previously shown greater re- llams R C (1.40). and is operated by the mere presence sistance than other sections of the list. AL Intern Perfume (1). Wil-Low Cafeteria... of an automobile without any action Gulf, Humble and Standard of Ohio i gt b ST Internat Products. . nter (Benj) on the part of the driver or any kind nt Sa . e of Indiana, however, suffered only a * ‘Worth, IncA..e.eee »\'tnu unnecessary delays at street and moderate loss. gt Ll e Inter GUIB (3%). § Tl TANNY () 4| highway crossings, thereby accelerating ; > r 7 rod (1.60). ; 4% Asso-Dyeing & Ptg.. 2 o Banjties, un- vehicular traffic. 4214 Ass0 G&E A (32. ul). 123 At © ia. many citles, including Chicago and Baltimore Marke 51 Asso GAE A deb rts.. 19 ImeE ) el L Aido AT e e “ | Philadelphia. and has attracted wide= 45% Asso Rayon pf (6). S Yoot Fraschint (1.08) Tonopah Min (15¢) . . Cities Service spread attention. Every large com- K # Atlant Fruit & Sug 4 i 4 Kreuger & Toll sought selling agreements. The Crouse=~ BARTIMORE, Md, = October 20— 53 Atlas Plywood (4). .. v sl Gl P 7 Mid West Util “|Hinds Co., which has ample manu- Poultry, alive—Turkeys, pound, «;. 7% Auto Voting Mach. .. b “;N:r gl Tri-Continental Cor. 2 t Util(pr). facturing facilities and a large and Spring: chickens, 23a28; Leghorns, 23a ohnsos Ji 2915 Aviation Corp of Am Trunz Pork Stores. . 4 Pennroad equipped to supply the rapidiy growing 9ld roostets, 18a30; ducks, 20a33; guines 16" Avintion Securiiie e RO Tung-Sol Lamp (2). 6 214 214 Unitea Gas Juio o well Lriown, Washingion men are fowls, each, 40865: pigeons, pair, 25. ert Co L Ta3s i 5 G o * Eggs—Receipts, 314 cases, native and Lackawanna See(4). Ulen & Co... earby firsts, 50aS4: current recelpls, | 139 117 Bab & Wilcox () e Bt atonk yn st ur Ao & 245 hcnnery white, 58a60. 22 3 Bahla Corp. . Lane Bryan tine (2). = » o —Good ) prerogative. He tells about the found- Hazen, District surveyor, the latter S to fancy creamery.| 100 98 Bancomit e e s fng of the nrst reat american vank | DEMAND FOR POWER being also vice president. packed, 28a28%5; rolls, 31a32; process,, 24 5 Bellanca Afrcra Sorris of Shilagel » . e phia worked out; of 4oas1. el TR B TR the struggles and trials through which ’ the currency of the ni tes went when the Nation was young; how Cattle—Receipts, 50 head; light sup- | 554 31 Biue Ridge Corp b | ok i s Dly; market lower. Steers. cholce o 1024 80 Blumenthal (8). .. A ecnms of wiuna | Electricity Used Since January | P'“"‘;?";:’: :e( e m o choice, 1. to ohac! « . banks afterwards. ” e g ntences. ‘Thrge chapters in the book are of Shows 14 Per Cent Gain Over VALENCIA, Spain, Octobsr 29 (#).— lost from 13 to 18 points. Standard 34 Avkansa S L ot “|of appliance on the car. Its use pre- n e 614 Asso-ElecInd Ltd.. b3 6y i Tish Realty & Con. RIGHTS. “It is now in successful operation in Bpecial Dispatch to The Star. 35 Atl Coast Fish(1.20). IrvAlr G (2) (1.50). . Trans Afr Trans. ... Grigsby Grune. pany manufacturing traffic signal lights 17% AutVMevprpt(2). Tri-Cont Corp pf (6) % N Y Central. efficient sales organization, is well 25; ol¢ hens, 28a31: Leghorns, 18a22; Karstadt (R)....... 4313 32 AxtF Tob A (3.20) 5 25 Zonite Froducts members of the board of directors of Lakey F &M (12.40) Pound, 42a48; . ladles, 35a36; store | 190 160 Bell Telof Can e Y BA[[S NEW WANTS soon after the Revolution, which Robert Live Stock Market. 29% 10% Blue Ridge Corp. 12,50 mediuim" o good, 1100 to_ 1155, | 1% 45 BrasilTr& Lt(2)... fair to medium, 9.50 to 10.50; plain to fair, 8.50 to 9.50; common to plain, 7.00 to 8.50. Bulls, choice to prime, none; to choice, none; medium to SM 00 to 9.00: fair to medium, 7.50 to .00; plain to_fair, 6.50 to 7.50; com- on to plain, 5.50 to 6.50. Cows, choice pflme. none; good to choice, 8.00 to ; medium to good, 7.00 to 8.00; fair medium, 6.00 to 7.00; plain to fair, to 6.00: common to plain, 4.00 to Heifers, choice to prime, non to choice. none; medium to good, 10.00; fair to medium, 8.00 to DW plain to fair, 7.00 to 8.00; common lain, 6.00 to 7.00. Fresh cows and 60.00 to 150.00. Sheep and lambs—Receipts, 250 head; lum suprly mnrlm slow. “sheep. 2.00 50 to 13, Ha[s—Rectlpu 250 hnd Hiht lun- ], steady; heavies, 10.00 to m!d modlu 1000 to 10.35: Toughs to 800! light pigs, .50 T5: bigs, 9.0t Cllv%figeeipu 50 head: light sup- ply; market slow. Calves, 7. nn“'g 1 & Vegetable Prices. Potatoes. white, barrel, 1.00a4.00; 100 pounds, 2.75a4. sweet potatoes, bar- rel, 75a1.75; yams, barrel, 1.75a2.00. beets, 100, 3,0004.00; beans, hel, 758 | 1.50; cabbage, hamper, 60a! carrots, | 100, 4.0085.00; cauliflower, mu 1.2 3 2 e ;s;ss s§§ limi hamper, lZSIlM on\onl. 100 paundl 1.75a2.00; peppers, hamper, 20a30; peas, bushel, 5.50a6.00; spinach, hmper. 40a 70; tomatoes, hamper, 25a75; turnips, hlmper. 25a35; apples, bushel, 7582.50; grapes, basket, 50; grapefruit, box, 3.00a honey ' dews, crate, 15082.00; ranges, box, 3.50a4.25; pears, bushel, 2.50a4.00; quinces, bushel, 75a1.50. Hay and Grain Prices. Wheat—No. 2, red Winter, spot, l?l',q, No. 2, red Winter, rfllcky. spot, 1.20% ; October delivery, 1.203 Novem- ber, 1.21; No. 3, garlicky, 1.17%. Corn—No. 2, export, October delivery, no quotations; No. 2, domestic, yellow, 1.11a1.12; cob corn, 5.50. Oats—No. 2, white domestic, spot, 86; No. 3, white, domestic, spot, 55. | Rye—Nearby, 90a1.00. H 513 27 327 32 10% 26% 40% 50 17% 8 46 Bl 4410 1% Bridgeport Machine. 17 Brillo Co (1.20).. 29 Brit Am Tob B $1.20. 2914 Brit Am To regt1.20. 4% Br Celanese Ltd rcts 241 Buf N&E P pf (1.60) 27% Bulova Watch. 3614 Bulov W v pf (3%4). 12 Bureo, Inc. i 4 Burco, Inc (war) 45 Burco, Inc conv pf. 37, Burma rets (313%c¢). 25% Butler Bros (2).. 5% Buzza Clark, Inc. 6% Bwana M Kubw 5 CableRT vtc. 3% Cab&WireLtdA ret 1t Cab&WireLtdB rcts. 4% Cab&WireLtdpf rets 315 Can Marconl. 1% Carib Syndicate. 10% Carnegie Metals. & Caterpillar Trac ). Sta 70 Cen StEIpf x w 2n~. 115 Cen StElcv pf n( 5% Centrifux Pipe (80¢) De 1% Chi & NW bond rt; City Mch & T (1.60). Cities Service (130e) Cities Serv pf (6)... City Sav Bank(4.17). Clev Tractor. 978 Comwlth Pow pf (§) 16% Community Water.. & Comstock Tunnel. ... 23% Consolidat Afrcraft.. 20% Con Gas Ut A (2. 8 Cons Instrument. 1214 Cons Laundries 16 Con Retall Strs ( 4% Cons Royal (60c).... 25% Cont Diamond (2) 16% Continental Oil. 37% Cooper B 40 Cooper B 5% Copeland Prod Inc A 15 Cord Corp 4 Magdalena !7na|en. Mapes Con (12%)... Marcon! I M (37%¢). MarWireTel Ltd 62¢. Mar Midland Corp. .. Marion Steam Shov. land of Mexico. Bottli: ower A McCord Rad B (2) Mead John utu) . Memph Nat Gas Co.. Mer Chap & S (1.60). Met & Min Inc (1.20. Mexico-Ohio Ol % Mid West Util(new). Mid W Utilev pf(6). Miller Rubber pf.... Min Corp of C (26¢) . Mock Judson Voe(2) Moh H P 1st pf (7). Moh Hud P 24 pf(7). Montecatini debrts.. Mon L H & P (2.40) . Moody's 1 8 pt pf (3). Moore Drop Frg A. .. Morrison Elec (1) % Moun & Gulf (.08) Mount Prod (1.60) Municipal Service. .. Nachman Spring (3) Nat Amer Co (2).... t Aviation. .. t Bancservice (5). t Container pf (2) t Fam Strs (1.60). Nat Fam Strspf(2).. t Investors (new) bellonlflermln)l!). Neptune Meter (2).. Jer Zine n (13). w Mex & Aris Ld. wmont Min (34).. N Y Auction (1%)... N Y Invest (1.20). N Y Invest (war)... N Y Pet Royalty (1), ° - . ErasSan~c~ wonnan~anSaammana - - = = AmENMpR IR DN~ » = H - ez e @ FRE- R R T IS T 9= YO PRS- ISP Historian Declares Changes in Desires Bring About Industrial Advances. Special Dispatch to The Star. NEW YORK, October 29.—James | Truslow Adams, the historian, belleveslloANs OF MEMBER that the whole matter of prosperity must be discussed and viewed from not only the business standpoint, but from that of the human welfare, too. From the business standpoint there are many facts that show America has been going through a new era. Stuart Chase says that the present era from 1922 to 1929 marks: the fifth great period of busi- ness prosperity 1n the history of the coun! But when it comes to discussing l'-’l perity and its effect on people, istorian Adams makes some very pointed remarks: “Our pre rity can be maintained only by making people want more and more all the ume. Those, and they are many, who believe that our recent prosperity has been mainly caused by e phenomenal expansion of the auto- mobile business tell us that it will soon be necessary to find some other article which will similarly take the public fancy and create billions and billions— and billions of e: e to men already tired of doing not! but meeting new expenses.” Many Factors in Happiness, Stuart Chase joins Mr. Adams in this point of view. “We can all agree on pig-iron and bank clearings and even upon telephones per capita,” says this dynamic writer, “but we cannot W the optimists to claim that these things automatically insure the good life. These men may be right, but they have never adequately proved their case. lndud 1t would tax the resources of psychol anthropology and history to prove i 8o these critics and others are mm. to say that business grolperl'.y is not in itself the yardstick by which nations can be or must be judged. “Does the \RADIO-AUTO HOOK-UP especitll interest just now. They cover the New York clearing house and the stock exchange, greenback currency and the banks, and the founding and the structure of the Federal Reserve system. Mr. Hoggson has a real ability for making the intricate financial facts of history interesting, dramatic and in- structive, <cupymhz 1929 BANKS ON INCREASE| “All Other” Total Shows Gain of $58,000,000—Security Bor- " rowings Higher, The Federal Reserve Board's condi- member banks in leading cities on Oc- tober 23 shows increases for the week of $101,000,000 in loans and investments and of $68,000,000 in time deposits, and decreases of $02,000,000 in net demand deposits, $28,000,000 in Government de- its_and $59,000,000 in borrowings Banks. Loans on securities increased $45,- 000,000 at all reporting banks, crease of $65,000,000 in the New York district being partly offset by decrease of $14,000,000 in the Chlulo district nnd nmooo in the San Francisco porting banks, $46,000, in the New York am.rm -nd s1ooooou in the S-n Francisco dis FACING OPPOSITION BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, October 29.—It is re- tion statement of weekly reportingt 1928 Figures. Special Dispatch to The Star. NEW YORK, October 20.—The sta- tistical summary of the distribution of electricity during the month of August shows only a alight decline in the N‘h level of industry and trade which has prevailed since early in the year. Since January 1 total sales of large industrial |power were 30,100,000,000 kilowatt hours, an increase of 3,671,000,000 kilo- watt hours, or nearly 14 per cent, over the corresponding period last year. “A further shrinkage in the produc- tion of hydroelectric energy is noted, and unless a decided change in climatic conditions takes place during the re- mainder of the year, ror the first time since 1921 water roduction will, g the next pr 3 year, in spite of a large increase in the demand for electricity. During the first It was unofficially rej d “last night that the court-martial which has con- cluded its hearing of sedition charges against Jose Sanchez Guerra, former premier, and several others, recom= mended acquittal of the civilian de- fendants and light sentences for the military officers. ‘The findings of the court must be wved by higher military authorities ;ore the results are formally made public. The captain genéral of Vale encia must pass on the verdict. The charges against all of the de- fendants were in connection with the Ciudad Real artillery uprising last January. i| Investment Trusts (All Jssues) BOUGHT—SOLD eight months of 1929 the out) t o! water power plants, as reported United States Geological survey. h-d increased by only 2 per cent over the first eight months of 1928, while the production of energy by fuel-using plants had grown by 181 per cent. To & large extent this has been the -esult of the prolonged drwtht through- out the Northern part of the United States, which has ‘had serious results upon the agricultural outlook of many areas. BONDS ON THE CURB MARKET. Sales in thousands. Tow. Noon. ‘iuunkcz tmer # ) }nfih 101 8 ad 4 . - - e 30000 2090 Capital City Co. 509 Washington Bldg. Phone District 8291-8292 Consult Us First If you need money for our Real Estate financing t us have your application today. Prompe Service Ne l,mfid 120 . The Commemnl National Company L 900,000 Commerela! llliol.l‘-lil 8lds CompLETE FINANCING Hay—Recelpts, none. Season for old | hay is about over. A little new crop is 25 Corroon & Reynolds. arriving, but hardly enough upon which 90 Cor& ReypfA (6).. to establish quotations by grades. Where 45 Cosden Oil in good order new hay sells at from 30 Cream of Wheat (3). increase of pig-iron pro- duction, bank clear] and for trade invariably and inevitably m: the average man happler and the social life richer?” asks Mr. Chase. Niagara Hud P(40c). Niag Hud Pw A war. Niag Hud Pw B war, Niagara 8h ( _ +40). Niles Bement Pond. . ported in radio circles here, although e | not officially, that the Department of Justice at Wi 28..-8 EEE) 208323283 - © 8! 13.00a16.50 per ton, according to its 1% Ceoolh BRI -« ¢ quality.and condition, receipts by truck taking care of most requirements. Straw—Little demand for straw. Re- ceipts generally ample, Wh straw, No. 1, per ton, nouooo, oat ltrlw. No. 1, per ton, 9.00a10.0 l Wall Street Briefs I By the Associated Press, Contracts for the manufacture or‘ radio cabinets have been made by the | Colin B. Kennedy Corporation with the Chillicothe Furniture Co. of Chillicothe, Mo.; Bush & Lane Piano Co. of Hol- land, Mich.; J. A. Hilmers Manufas turing Co. of Leavenworth, Kan: the Donaldson Wood Products Chicago. Net profits of the Reo Motor Car Co. for the third quarter amounted to $407,- 297, equal to 20 cents a share, compared with $1,148,844, or 57 cents a share, in the preceding quarter, and $1,543,511, or !’: 05'121;.5 a share, in the third qulmr o S i “"he New York, Rio & Buenos Aires | Line, Inc. has received a conce:sion from the government of Chile for the transportation by air of up to 25 per ! cent of that country's mails to Arun-| tina, Brazil, Uruguay, West Indies and | the United States. | Common stockholders of the Bene- ficial Loan Soclety will vote on Octo- ber 31 on a proposal to change the authorized caplf tion from 35,000 shares to 140,000 shares, with a view to declaring a 4-for-1 stock split-up. The aggregate net operating income of m first 44 railroads to report oper- ations for September amounted to $89,- 026,000, compared with $89,102,000 n &pumber, 1928, a decrease of el[hl.-‘ tenths of 1 per cent. The aggregate net for August of the same carries| emounted to $9,303,00. C. & P. Adds Equipment. ‘BALTIMORE, October 29 (Special) Capital expenditures for new plant anc ipment added to the system of the P“uupelke & Potomac Telephone Co of Baltimore City, operating in the State of Maryland, for the first nine mont.hs of the year were $3,162,597. report of operations made to the Publlc Service Commission shows. Re- tirements during the' month were; making net additions $1,671, BN R 0 plang for the 1 't 30 amounted ‘months end! | 0 $2,004,393. W 26 34% 642 267% 10% 430 Deere & Co (6). % Cresson Cons (.08).. 25 Crocker Wheeler(n). 4% Curtiss Wright war. 2% Cusi Mex Minin 10 Darby Pet (1)...... 9%, 18% Davenport Hos (2). 6 20% 20% 2658 432 432 8 De Forest Radfo.... 43 6% 8 6 DHALtdretn(50c) 2 5% 5% 2 DerbyOfl&Refin... 4 b 5 78 Detroit AfrcraftCor., 15 7% 9 28% Davega Inc (11%).. D'v'ga Inc cod (11%) 20% Douglas Aircraft. 4 Dubelier Cond&Rad. 6% Durant Motors. . 2% Ear] Radio Corp 36 EastGas& F Asso.. 35 East States Power B 15 Eastern Util InvA.. 0 17% Eisler Elec Corp.... 6089s 10 73 El Bond & Sh (b6).. 2162 108% 101% El Bond & Sh pf ( 302% 104% 92% 92 1% 67% 38% 69% 13% 21% 21% 30% 3474 27% EI P& L opt war.... 20% EI Sharehold (11)... 331 Empire Pow pt (2).. 1 Engineers Gold 9% Evans Wallow Lea; 64 Fabrics Finishing 76 Fajardo Sugar. Finan Inv N Y (b8). i 195 Firestone T&R (3). !!5! Foltis Fischer Corp. 31% Ford Motor Can A 8% Ford Mot of France 11% Ford Motor Ltd 10 Foremost Dalry I1.. 19% Foremost Fab (2)... 13 ForhanCo A (1.60). 64 Foundation For 8h 41'; Fourth Nat Inv.. 19 Fox Theaters A . 38 Fren Line B (234).. 23 Garlock Pk (120).. 6 147 Gen Am Invest new. 41 5 General Baking. 100 58 General Rak pf (6).. 15 10% Gen E Ltd rets (50¢) 140 321, Gen Empire Corp... 12 30% Gen Fireproof (2). 6 16 GenGas& ElA.....459 231 Gen Indus Alcohol,. 1 13% Gen Lau Mch (160). 8 45% Gen Printdnk (2%). 5 17% Gen Rity lmmuu. 37 North Am Utll s«:. . North Cen Tex (60c) North St Pow A (8). % N W Engin 2)... Novadel Agene (2).. Ohio Copper........ Ohio OIl (1234 .. Ollstocks Ltd A 1500 Orange Crush (1.50)., Outbd Mot A (1.80)., Pac G&E] 1stpf 1%. 4 Pac Weatern ofl.... Param C Mfx (2.40) Penn Gas&El A 134 St Penn Ohio Ed pt (6).1508 Pen Oh Ed pr pt (7). nroad Corp. . Penn W&P (2% Pepperell Mfg (8 Perryman Electrie. . Petroleum Corp. Philip Morris Inc. Philippe (L) A (1.60. Philippe(L)B(1.60). Pierce Govern (1%) Pilot RT A (1.20) Pitney B P n(20c) Pitts& L E (5).. Plymouth Ol (2). Polymet Mg (31) Potrero Sugar. . Powdrell & Al 'l") Pratt & Lambert(4). Premier Gold (24c) . Prince & Whitely. Prince&Whitely pf Prop Silk HM (2) Pyr Radio Products. Rainbow Lum ProdA runnbow Lum ProdB Ml . Reliable Stoe: bl% 4 Reynolds Met tmw) % Rike Kumler. ... 4 Roan Antelope Min. . 4 Rockland L&P..... Rolls-Roy Lud rets. . Roosevelt Field,Inc. Root Refining. . Ross Stores, Inc Royal Typewr t2 Rubercid Co (4). fiyan Consolidated. . St Negls Paper. : salt Creek proq ). Schiff (The) Co (1). Schulte Real Estate. Schulte Un 5c-$1 St. " Sch U be-$18pt (7). Seaton Leather. Sesman Bros (13)... 80 i 6% 2\7% Seiberling Rub (1).. Mr. Adams and Mr. Chase answer in the negative. Sees Higher Brokers’ Loans. Gage P, Wright, New York economist, is one of those who believe that brokers’ loans will continue to increase even in past has con- sidered it axiomatic that in periods of falling stock prices brokers’ loans would decrease by virtue of the cleaning out of weak holdings and the transfer of stocks to strong hands,” says Mr. Wright. “But with the change in Federal Re- serve policy regarding speculation and credit, and the resultant stiffening in money rates, new factors must be taken into consideration.” He enumerates four factors. First, out-of-town bankers all over the coun- try taking advantage of the prevailing money rates to send their surplus funds to Wali Street to be loaned cn call. They are becoming increasingly reluc- tant to lend funds for eommercm and industrial uses in many A second factor is lhlt. lllll.lu se- curity prices invariably attract bargain- hunters. Two other factors are the flotation of new security issues and the exercising of rights. New Situation in “Street.” “Wall Street is up against a new situation to which it will have t. ac- custom itself,” continued Mr. Wright. ‘Under the present credit structure brokers' loans will continue to increase; but the situation is not as serious as it appears at nm glance. This mntry peri of pon t.hn eon is a healthy sign in that it reflects a steady expansion in the industrial and economical life of the country at large.” This point of view has a wide fol- lowing, but it is not by any means the generally accepted position of economists. Noble F. Hoggson, interested in archi- tecture and building construction, has | written an excellent book on “banking. Reserve Board Pictured. It makes good reading—neither dull |nor dry. He tells about use of | wampum, beaver pelts, polished shells ' and tobacco as instruments of exchange | in the beginning, and ends his swry with the Federal Reserve Bank. Mr. Hoggson describes the establish- ment of the first American mint, in the | year 1652, which coined shillings, six- pence, three-pence and = two-] ct Iecel lnd mfly annoyed Charl led to usurp his royll | London, pound. . | Paris, i s ma. cro; ‘ashington has begun an investigation of the radio hook-up o! moumml involving General Motors, o Corporation of Ammes. General that the agreement is in Sherman act and have demanded that the Attorney General conduct an investigation. Legislators say the new agreement rallels a situation which came to the ore last year wheq a demand was made that the duPont' interests, active in General Momn be asked to explain their huge purchases of United States Steel. The independent radio manufac- turers declare that the new hook-up removes from the field the one factor Corporation—namely, General Motors. WT'::: :ldl:(::“ this lt;cun:’l;:n impetus cross-lice, program of R. C. A. mhmruwnmzm licenses ~under all its patents to Gen- eral Motors. Defenders of the new development declare that the alliance will enable Genera Motors legitimately to utilize its facilities and equipment and outlets to best advantage. ‘The arrangement has not alone caused an upheaval in the radio manufacturing industry, although mergers among the independents are being discussed. It has caused a mild convulsion in autao- mobile manufacturing, auto body build- ing and motor designing circles. Some automotive engineers declare the first time ear appeal has been made a prime t{"::;tor FOREIGN EXCHANGE. (Quotations turnished by W. 8. Hibbs & Co.) ominal gola Selling checks value (or xn: Stocknowm, " crow: which could have competed with Radio b ‘lhe Colombian oil industry, has been | » FSS 888 SrodEr B0 015~ StRs aOranS : P 1 5?._5_55;:%’7 e 25 “z2 i D835 888.-: & 6 ln c'ax 4 8 98" e RS 5 % A s52 on a o532 w5 o 5 Li & Rail g Ruh llu 31 s Bavoo aecgcnem Eon® 5 ES’%’ imania. Inst 7 uss Govt "a Z23Es wA—When tssue a —Wih warr A warrants. Ask Conmu to Quit Campaign. By Cable to The Star. , Colombia, October 29.—A f | BOGOTA, joint statement asking members of Con- l gress to t political in the exterfor and public ' programs, in order to devote its time to debate over the relative merits of the two candidates. The petrolcum bill, upon the passage of which depends | to a considerable degree the future of in Congresssional committees since its introduction by President Mendez Ab: dia more than three months ago. Glass Houses Predicted. NEW YORK, October 29 (#).—The ple of the next nnerluonm:‘m I.uvepm- TRUST MONEY On homes, apartment bmldm‘l and business properties. -No sppraisal Prompt service. Real Estate Mortgage & Guaranty Corp. 24 Jackson Place Natl. 1403 Unconditionally GUARANTEED When the Market Smoke Clears Away Financial “hang-overs” never disturb the own- ers of our 6% First Trust Notes. The market may go up— the market may go down—yet the investor knows that his funds placed in these securi- ties are as safe as Gi- braltar. GET THE FACTS MESNVESTMENY 2 npm’ increasing in users: in thz Netherlands are number.