Evening Star Newspaper, November 4, 1929, Page 14

FINANCIAL STOCKS ARE LOWER ONHEAVY SELLING 14 s =" Note—Owing to the tremendous trading on the New York! —Prev 1920 Sales— t | Hieh Low Rate. Add 00 High. IN SIUCK MARKEI E‘i"fi:‘n'f e 1% % Conln'l‘ ol sta. H 96% 40 Consol Cigar (7). ~Prev 1 Sales— Prev. v 1929 Dlfi:::d“”lu 10 Consol Film (2) FENANCIAL, T Frev. [ —Prev. 1020~ Stock and Dividend Ra Low. Close. Close. | High. Low Dividend Rate. 00. High. Low. Close. Lamuert Co (3). 1064 107 1964 100% Safeway Stores (3). 136 125 125 Lee Rubber & Tire 94 Lead (13 57% 54 b4 L-h Port Cem (3% um ll;:: ll;% nm, Stack and A. V. Shaw, Economist, Speaks to Host of Woman Investors Here. BY EDWARD C. STONE. That there will be a downward trend in the New York stock market lasting from three to nine months, was fore- cast here today by A. Vere Shaw, financial adviser and economist for Shaw, Loomis & Sales of New York. Boston and Wash- ington. The recent return of stocik rices to normal jevels has punc- tured the inflated Ideas of many spec- ulators and at the same time greatly reduced the pur- chasing power, Mr. Shaw asserted. “‘Many orders for automobiles, in- tended . trips down the Nile, and cloth- wade H. Cooper. ing have been can- celled,” he continued. “The effect of this will not be felt for some little time and the downward trend in business which has already existed for the past three months, will be accentuated. “It is my estimate that from three to | nine months will be required to change business conditions and the stock mai- ket situation and reverse the downward trend. Certain adjustments will un- doubtedly be made in economic condi- tions and it should be borne in mind that American aggressiveness and American industry are as strong forces today as they ever were. In a brief period, the infusion of new ideas and a return to the old willingness to work will cure any inkrmedllte depression which may be in prospect. Mr. Shaw made a gripping address before a host of Washington women ‘who flocked to the Mayflower Hotel this morning to obtain information on probable trends, the best investments to make at present, and rerhaps be- come more independent in handling their own financial affairs. The talk ‘was sponsored by the Continental Trust Co. and the first of three such addresses. Urges Caution in Selections. Mr. Shaw advised both stocks and bonds as sound investmerts. There is a demand for both and a place for both, he said. He cautioned his hearers to diversify their holdings, learn every- thing possible about the business, the management, present earnings and future prospects of the companies in which they put theiy money. He stressed ylelds as being of great importance and ‘mentioned caution as one of the biggest factors in successful investing. He de- clared that a constant change in in- vestment _conditions is the normal expectation of the future. ‘The aker reviewed some of the factors Kn brought about the recent stock market smash, adding that wild- cat speculation has had much to do with present conditions. Much that has occurred has been for the better, he said, and some for the worse. He distributing a higher return to ‘workers, and asserted that a happy and prosperous community must have a nicely balanced adjustment between the capital which is spent and the amount which is put back into produc- tion. In cther words, spending is just as important to prosperity as saving.. Cooper Welcomes Woman Guests. President Wade H: Cooper of the Con- tinental Trust Co. welcomed the guests. He said he had watched the ‘trend of women in managing their own affairs with the keenest interest. “We recog- nize,” he said, “that women do not want to be segregated in a separate de- partment of the bank, put off in a little corner 10 by 10 feet with a teller to administer to their needs. They want to come into the bank, consult the officers and transact their business in exactly the same way that a man transacts Imslnm and they want the same treatmen “The mlnner in which women who have been sheltered by a husband’s or 136 119% 279% 81% 17% 175% 104 80 84 5ot 64% T0% 298% 20 66% NB% so!s father's care commence their financial education in middle life and the rapid- ity with which they gather knowledge and terms that a month ago or a year ago were as strange as foreign tongue, has excited our keenest admiration. It is because women are demanding a place in the financial world and the fact that we want to help them and put facts before them that today we present the first of our informative talks.” The guests were welcomed at the entrance to the hall by Miss Mary J. ‘Winfree, secretary of the trust com- pany, who originated the idea of the lectures. She believes. that the im- portance of women as investors has been too long overlooked. New Investment Firm Formed. James M. Johnston and James H. Lemon have formed a partnership un- del' the name of James M. Johnston & Co. The new firm will do a general rnvestment banking business, take over '’he business of Irving & Johnston and will act as Washington correspondents for the New York banking house of Spencer Trask & Co., members of the New York Stock Exchange. The firm will also be members of the Washington | Stock Exchange. Their cffices, located temporarily in the Woodward Building, will be moved to the new Shoreham Building about the middle of November. ‘Through the firm's connection with Spencer Trask & Co. it will be able to offer to its clientele the facilities of that organization, whose private wire system extends to all the financial cen- ters of the country. Both Mr. Johnston and Mr. Lemon “are well known in the investment bank- | ing business in Washington, and were - formerly members of the firm of Irving & Johnston. Mr. Johnston is a director - of the Liberty National Bank, a member of the Washington Stock Exchange, a ~director of the Pederal Storage Co., also vice president and treasurer of the Fed- eral Storage Co. and a member of Co- »lumbia Country Club. He is a graduate < of the University of Illinois, and served . during the war as a pursuit pilot in the “A. E. F. Army Air Service. Mr. Lemon g:dulle of Central High School ceton University. He was a - prominent athlete at both places. Both Mr. Johnston and Mr, Lemon were con- 2 nected with Spencer Trask & Co. prior to locating in Washington. < _R. P. Irving, formerly of Irving & Johnston, will also be connected with the new firm. The following, all for- merly connected with Irving & John- ston, will be associated with the new firm: Harold G. Cummings, Edson B Olds, jr.; Guy O. Dove, jr., and Paul L. Doerr. ‘ Heavy Trading on Exchange. Trading was heavy on the Washing- ton Stock Exchange again today, both stocks and bonds being in lively de- mand. Oapital Traction was the most inter- esting stock on the board. The issue climbed ltuduy during the session and closed at 80%%. Lanston closed at 115%, Mergen- th.l.ler at 102, Peoples Drug Steres at Bcnk stocks were quite widely rep- resented in the day's salées. The ex-, change wili be closed mmorn)w 1 — 0 = . 55% 44 42% 50 22% 54% 32% 127 39 9674 594 9% 123 192% ATH U “6’“4 61% 266% 48% 65 397 81% 80% N!M 102% 109 50 76% 344 62% Pen Shipments Incrnn. NEW YORK, November 4 (4).—Ship- ments by the W. A. Sheaffer Pen Co. of Chicago duri mfl the largest in the , W. A, Sheaffer, pres- announced today. 79 99 63 24% 10 High. Low 57 87 * 5% 2% 50 87% ABIUIbI Power & Pap 76 ADIIDI P& P pf(6). Adams Kxpress otfs. 24% Adams Millis (2)... 7 Advance Rumley. 15 Advance Rumley pf.. % Ahumada Lead..... 954 Alr Iteductn (t434). 25 Alr Wal E1 Ap(2%). 2% Ajax Rubber... 4% Alaska Juneau ed 374 Allis Chalm (n) (2 29 Alpha Port Cemt(3).. 38 Amal Leather pf 174 Amerada Corp (2) 4 Am Agricul Chem. 25% Am Agricui Ch pf 92 Am Bank l\ou("ll 11 Am Beet Sugar 287% Am Bosch Magneto. . 43% Am Brake Snoe 2.40. 4% Am Brown Bov Elec. 107% Amer Can (15) . Am Can pf (7).... Am Car & Fay (6)... Am Chicle (2). Am Com Ale (k1.60). 20% Am Encaust Til (2).. 35 Am European Sec... 50 Am & For Power.... 104 Am & For Pw of (7). 86 Am & For Pw 24 pf.. 19% Am Hawalian (1). 5 Am Hide & Leather.. 30% Am Hice & Lea pf... 40'% Am Home Prd (3 29 American Ice (3) §9% Am lce pf (6 30 Am Internat ( 214 Am La F & Foam! 99 Am Locomotive (8)., 112 Am Loco pf (7)..... 147% Am Mach & Fay(16). 41% Am Metal (3)..... 3 Am Plano.. 73% Am Pow & Lt (f1 92% Am Pow & Lt pf 4‘)¢ 70 AmP&LDLA(3)... 76% Am P&L pf A st (5)., 28 Am Ra&Std San1%.. 15 Am Rep) 5 72 ~Am Roll 35% Am Steel Fay 40 Am Stores (12%)... 66 Am Sugar Rfg (6). 100% Am Sugar Rfg pf(7). 26'% Am Sumatra (3). 17 * Am Tel & Ca 193% Am Tel & Tel 160 Am Tobacco (110)..: 160 Am Tobacco B (110). 115 Am Tobacco pf (6).. 135" Am Type Fdry (3)... 65 Am Water Wk (e1). 97 Am Water W 1st(6). 5% Am Woolen. . 20% Am Woolen pf. 644 Am Writ Paper ctfs. 34 Am Writ Papr pf (3) Anchor Cap 12.40). 30 Andes Copper (3) 22% Archer-Dan-M (2). 75 Armour Del pf (T)..s 5% Armour 11l (A). 3% Armour Il (B). 195% Atch T &8 Fe (10), Atch T&SF pf (5) Atl Coast Line (110), 8% Austin Nichols. Al n Nichel 6 Aviation Corp. Del... 15 Baldwin Loco (new). 112 Baltimore & Ohio (1) 75 Balto & Ohlo pf (4).. 75 Bayuk Cigar (2) 17/ Beacon Oil.. 75 Beatrice Crea: 67. Beech-Nut Pack (3)a 6% Belding-Heminway.. 7814 Belg Nat Rys pf 5.49 28% Bendix Aviation (2). 321, Best & Company.... 80 hiehem Steel (6). 116% Bethlehem St pf (7). 28 Bloomingdale Bros. . 47% Bohn Alumn&B (16). 3% Booth Fisheries..... 53 Borden Co (3) - 29% Borg Warner (4), 85 Boston & Maine 6 Botany Con M (A)..: 10% Briggs Mfg. ... Briggs&Stratton (2 British Empire Steel British Em $tl 24 pf. Brockway M T (3). Bklyn-Manhat (4) Bklyn Union Gas Brown Shoe (2% ) 22% Bruns-Balk-Col(3), 4% Bruns Ter & Ry 8. 14 Bueyrus Erfe (1). 26'% Bucyrusevpf (234).. 9 Budd (EG) (t%) 39 Bullard Co (12) 30% Bulova Watch 94 Burns Bros A (8) 22% Burns Bros B.. 29 Bur Add Mach t1.80 33 Bush Term (g2)..... 2 Butte Copper & Zine. 5 Butte & Superior (2) 60 Byers (AAM)........ 20 By-Prod Coke (1) 63% Calif Packing 1 €allahan Zinc & L. §7 Calumet & Ariz (1 25 Calumet & Hecla(4). Campbell Wyant (2). 191% Canadian Pae (10).., 30 Cannon Mills (2.80).. 31 Cap Adminstratn A.. 34 « Celotex (3). Cent Aguirre As1%. Cant Alloy Steel (2). Certain-teed Prod... 47% Certain-teed pf..... 18 Checker Cab Mfg C Ches & Ohlo (10 Chesapeake Corp (3) 4% Chi& Alton. 6% Chi & Alton 484 Chi Pneu T ot 110 ChiR1& Pas (7) 96% Chi R1& Pacpf ¢ 104% Chi R I & Pac pf ¢ 29 Chickasha C O11 (l).‘ 447% Childs Co (2.40) 17% Columb Graph(87¢). 119 Columblan Carb(16). 24% Com Credit 12).. 51% 33 Comm Credit A (3) 31% Comm invest Trust, 90 Com Inv Trpf(8%). 20% Comm Solvents (n). Commé&So(bs%stk). 46 Conde Nast Pub (2). 11. . Conmoleum-Nairn. 1421\ 3'4 6% 11 31% 101 90% 244 427 69% 30% 25 1% 21 1 127% 26% £l 5% 10% 29 100% 90% 231 90% 240 Add 00. High. Low. Close. Close. 4 43 0 1224 1224™122% 121% 50% 131% 124% 125 139 89 45 32 26% 43 87 105% 116 190 52% 104% 83% ugu usu 1434 141 102 215 5% 30 2414 374% 8% 30% 80% 68 4 27% 70 22%, % 4% 43 974 u\»; 8 36 484 107 139 86% 44 31 2244 39 36% 90 104 116 190 108% 8% aile 48% 11 139 871% 44% 8y 22% 43 7 105% 116 190 108% 12% 135% 137 8814 44 31 27% 43 1% 9 105\« mr.v. losv. mm 104% 115 50% B2% 49% 5 5 84% 84% 88 9814 3% Kt 100 3% 80 9% T3% 9 35% 364 39 204 20% 254, 93% 8% 98 51% 56% 57 26% 1% 85 130 104 33 102 10 26% 8 38 11 70 95 64% 46 240% 103 178 TI% 26% 1% 85 130 90 102 10 244 108 179 72 274 i 9% 102 200 6 247% 103% 180 6% 55% 55% b6 45% 45% 46% 99% 95% 98% 95 201 4 30 23 37 8% 28 65% 4 26 70 21 TT% 39% 39% 94% 201 5 20 - 24 37% 8% 29% 31 124% 120% 121% 125% 80l 80% 68 70 21 92 74 T % 39% 41 947 210 4% 32 26% 37 9 80 66 26"& 27% i % 20% 90 5 8 8% 414 - 42% 97 1244 122% 122% 122 1% 31% 40 A 1224 99% 106% ) 14% 63~ 5% 69 42 115 6 15 65 5% 5 424 115 6% 154 31% 31% 29% 2% % 33% 73 1% 102 3614 26 67 201 35% 40 34 190 114% 12 43 28% 41% 251% % 5% 17% 52 3814 207 63% 5% 6l 10% 2% 7% 334 3 1% 102% 364 26% 67 204% 36% 40 34 195 115 12 43 28% 41% 283% % 6% 17% : : 62 3814 209 634 5% 6% 32%- 35 25% 42 854 25% 52 30% 60 35% 4% 10% 39% 135 % lflmfi 3 12!'/. 99% 1061 30% 60 37 47% 10% 39% 46% 19 80 40 99 1% 70 27% no an 45% 89 33% 15% 47 16% 136 46% 19% 80 42 100% sm 29% 170 35 91! 126% 98 143 48% 94 66 82 120 105% «154% 1047% 82% ba% 63% 59 128% 39 44 200‘41 77 159% 149% 37 49 90 38 126% 8Bl 15% Consol Filrh pf (2). 884 Consol Gas, NY (4). 93% Conso! Gas of 18). . 50 Consol RR Cub pf(6) 1% Consol Text| 12 Container Corp A... 4% Contl Baking B. 83% Contl Baking of (8) 45 Contl Bank NY 1.30. 40% Contl Can (3%). 50 Contl Insurance (2).. 0c) ) 40 Crown Cork & Seal. . 17 Crown Zellerbach (1) 77% Cructble !lnl ) Ruy 21 Cuba Cane Sugar of. 7 Cuba Co. .. k3 (‘ub-n-Amor Bugar.. 3% Cudahv Packine (4). 1071 Curtis Pub (+614). .. 112'4 Curtis Publish pf(7) 7% Curtiss Wright Corp. 21% Davison Chem. 141% Delaware & H 120% Del Lack & W (17) 40 Denv& RG W pf. 224 Detroit Edison (8 31 Devoe & Ray A (13) 6% Dome Mines (1). 12 Dominion Strs(1.20) 71 Drue Corpn 14) . 25 Dunhill Inter (34).. 13% Duplan Silk (1 R0 Du Pont de Nt 111 Dupont 4 N deb (6).. 19 East Roll Mill (1%). 162 Eastman Kodak(18). 27 FEaton Axle &S (3)., 11% Eitingon-Sch (2%). 57% FEndicott-John (5) 3] Eng PubServ (f1).. Eng Pub Sve of (5).. 31y ::‘mlltlhlc Blilll“l. RRTst ot (4).0 Erie R R 2d pf (4) .. Fureka Vac Cl (4) Fvans Auto L(32%). Fairbanks Co. 40 88% Fash Pk Asso pf (7). 5 Fed Motor Tr (80¢).. 40% Fed Watr SerA 2.40.. 63 Fid Phen F 49 Filen 5% Florsheim Shoe A 35% Follansbee Bros 'l). 45 Foster Wheeler (1).. 20'4 Foundation Co @Fox Film A (4). ®Freenort-Texan /) 99 Fuller pr pf (18.68), 5 Gabriel Snub A. 85% Gen Gas&El A (e13%) Gen Mills (43%).... 9114 Gen Mills pf (6 3% Gen Motors (+3.30).. 117% Gen Motors of (7)... 3 SemoutdAqy A (1), 9% Gen Outd Ad'vtc (2). 25 Gen Public Serv(bé) 30 . fian Ry Signal (5) 54 Gen'Refrac (t414) mn Gillette Saf Raz(el 7% Gimbel Broth 'Iz Gimbel Bros pf 31% Gold Dust (2% 105 Gold Dust pf (6) 94 Goodyear Ist pf (7).. 20% Gotham Stk H (2%) 9% Grand Unfon 30 Grand Unfon 40 Granite City St1 (4). 51" Grant (WT) (el)... 93 Grt North pf (5) 122% \ 93% Grt North pfet ll).. 19 . Grt Nor Ore (a1% 204 Grt West Sug ( 121 Greene Can Cop (8).. 20 Grigsby Grunow (2), 2 Guantanago Sugaf.. 20 Gulf Mo #North. . 90% Guif Mo & N pf (8).. 55% Gulf Sta Steel (4)... 12 Hahn Dept Sto: 82% Hahn Dept 8 pf! 1‘) Helme (G W) (17)..: 25% Hercules Mot (1.80) ., Hercules Powdr (3). Hershey Choe nf N). Hoo (R) &Co........ Homestaks Min (17). Houd Hersh B (1%). Hsehld Fin pf 13.10.. Household Prd (14). Houston Ofl... 44% Howe Sound (t4%). 84% Hud & Man Ry 3.50.. 43 18% Hupp Motor (£2) 123 17% Independ O11 & G (3). Motor Cycle. . Industrial Rayon. ... 120 Ingersoll-Rand t6% . 78 Inland Steel (3%)... 22 Inspiration (4).. 15 Interboro Rap Tras 5% Intercontinental Rub 4 Intl Agricultural 53 Intl Agri pr vt (7) 149% Intl Business M (5 54% Intl Cement (4). 8 Int Combustion 55 IatlCmb Eng pf (1 75 Intl Harvester (2%) 137 80 55 26% Int Mer Mari: 26% Int Nickel of &l(lh Intl Pap & Pwr l‘ffl) 43% Intl Print Ink (2%). 54 IntShoe (234). . 118 Intl Silver (18) 61 IntTel & Teleg (2).. 24% Intertype \rnu)... 25% Inter Dept 8t (2). 28 investors Faquity(3). 39 Island Creek Coal(4) Kan City Sou (5).... City Sou pf (4).. 20% Kaufmann DS (1%) 40 Kavser Jullus (4)... Keith-Albes-Orph. .. Kelth-Albee-O pf (7) fioll!-!vrllg Tire. .. e 32% Kraft PhCh (134) 95 Krart Phchn'l.\.) 12% Kresge Dept Store: 34 KresgeSS (1.60). 87 Kress (8H)Co (n1 24% lfll“r & Tol(1. 4L nwfl"lfl Inc pf (83).. Loft Ine. . Loose-Wiles (2.60).. Lorillard (P) Ce. ... Lorillard (P) ot (7).. Louisiana Ofl......« LouG&EIA(1%).. Louts & Nash (7). Ludlum Steel (2). Ludium St) of (6% ) MeCall Corp (4)..... McCrory B (2) Melntype Pore M(1) McKeesport T P «4).. McKesson & Rob (2) McKes & Rbpf(3%). Macy (RH)&Co(e13) Madison Sq G (1%)., Magma Copper (5).., Mandel Brothers. Map Eles Supply. Man Elev mod (d5 Man Shirt «2)... Maracafho O1l Ex; Mariin Rock (13%).. Marmon Motor (4).. Martn-Parry - Niathieson Al ¥ Dept Stors(e2). % Maytag Co 113) Ma; Co 1st pf My Shoe (1.40). zel Co...... Metro Gold f (1.89) Mexican Seaboardy. . Milami Coprer (4).., Michigan Steel (13).. Mid-Continent P (2). Middle States Ofl.... % MIiddle States Of] ef Midland Stl pr(t12 Miller Rubber. Mo Kan l‘l'll pr(T). Missouri Pacific. ..., Missourt ’ac pf (5).. Mohawk Carpet 2% . Monsanto Ch (g1%). Montgomry Ward(3) Mac A & Forb(v2.8| Moon Motor (new).. Morrell J (3.60)..... Mother Lode ¢40c) Motor MeterG & . Motor Products t10., Motor Wheel (4) Mullins Mfg. Munsingwear Murraay Corp (k3) Myer(FE)& Bre (3). Natl Bella Hess(31). Nat Biseuit (17%) Natl Biscult pf (7) Natl Cash Reg A (14) N vada Copper (3)... Newport Co A (3). Newton Steel (3) Norfolk South (2% Norfolk&Wstn(110). North Am(b10% stk) North Am pf (3). North Am E4 pf (§)., Nor Ger Lloyd(3.41), Northern Pae (5).... North Pac ¢ 3 Norwalk Tire & Rb Ofl Well Supply. Oliver FarmgEqu, Olivr Fr Ep ev nt(3), Olivr Fr Ea pf A(S).. Omnibus Corp. . ..... Otls Elevator (15).. Otis Steel (2%). Otis Steel pr of (1) Owena 111 Glass (4).. PacificGas& K (3).. Pacific Lighting (3).. Paramount-F-L (3).. Park & Tilford (13).. Penick & Ford, Penney (J C) Pen (1C) pf A (6).. Pennsylvania RR(4) People's Gas Chi (8). Pet Milk (134). Poor & Co (12). P Rican Am To (A)T P Rican Am To (B).. Postal Tel & Cpf(7). Prairie Oll&Gas 131 Prairie Pipe L 144 Pressed Steel Car Purity Bakeries ( Radio Corp. .... Radio pf A (334). Radio pf B (5) Radlo-Keith-Orph A. Rallway & Exp (2).. RRSec ICstk C(4). Raybestos Manhata. Rels (R)&Co uu'n.. Remington-Rand. Reming-Rnd 1st al Reo Motors (¢ Rep Brass Corp. Rep Brass A 4) Repub Ir & Steel 59% 56 21% 20% 18 16 21% 20 188 142 176 142 60% 60 59% 57 85% 83 1 ¥ 1 190% 110 261% 163 207% 138 34 . ( Senatie Notail 164 Seaboard Air Line pf 10% Seagrave (e1.20).... 95 Sears Roebek (12%4). Second Nat Iny Corp, 3 Seneca Copper. 8 Servel Inc 25% Sharon Steel H (3) 58 Sharp & Do pf (3% ). 25% Shattuck (F 3) (1) 19 Shell Unlon (1.40). 15 Shubert Theater (5). 66% Simfons Co (3)... 18 Simms Pet (1.60) 2214 SinclafrOll (13%). 10‘! Sinclair O1 of (8) 28 Skelly Ol (2) 26 Sloss ShefMeld Snider Packin Snider Packing ay Am In pf & 30% So Porto R Sug 12% 651 Southern Cal Ed 12). 21 Southern Dairies A 5014 1575 115% Southern Pacific (6). Sout! Rwy (8). Southern Ry pf(6)... Withngtn(1). Spencer Kelg:1. .')0. Splegel-May-St ll).. Stand Brands (13%).. Std Brands pf(7).... Stand Com Tob (1).. Stand Gas & El (3%) Stand G & E pf (4)... Stand Inv Corp (b8). 51'% Stand Ol Calif (13), 48 Stand ONINJ (12).., Stand OII N ¥ (1.60). 21 Stand Plate Glas 20% Starrett(LS)Co 1L, Sterling Sec A) 11% Sterling Sec pf(1.20). 31 Sterling Sec cv pf(3) 30 Stewart Warn(j3% 8L Stone & Websi 42 Studebaker (35). % Submarine Boat. 67 SunOfl (p1)... 7% Superior OIl. .. 24 Superior Steel. 4 Symington.® 974 Symington A. 16% Telautograph 1 ) Tenn Cop &Ch (1) §0% Texas Corp (3) 45 6% Texas Pac Land Tr.. 16% Thatchergdfz. Thatcher pf « 34% The Falr (2.40) 9% Third Avenue r Tide Wat Asso pf(6) 88% Tide Water Oll pf(5) 11% Timkn Det Axle t 70% Timken Roller (3)... 1 Tobacco Products. 1% Tobacco Prod ctfs. .. 74 Tobacco Products A. 6% Top Prod ctfs A. .5% Transcuntinental 39 Transue& W (1) 324 Trico Prod (2%) 18% Truax Traer (1. 2 Twin City Rp T (4).. E1-Fish (4. Union Bag & Paper. Unton Carbide(3.60) 43% Un Oil of Cal (32). 85 80% Union Pacific pf (4 108“ 121% Unlon Tank Car(6) 40 Utd Alrcraft&Tran: 50% Utd Afrcraft&T pf3. 40 Utd Biscuit (1.60) 41 United Carbon. .. 4% Utd Cigar Store 1 Unit'd Cig St. ctf (1) 46 United Cigar.Strs pf. 24% Utd Corporation 44% Utd Corp pt.(3) 16 Utd Electric Coal 99 Utd Fruit ted). 22 Utd Gas& Imp ( 0% Utd 7% Utd Paperboa: Utd Piece Dye Wks 96 Utd Piece D pf(6%). 64 United Stores A. . nited Stores pf (6)., U S Distributing. . US Dxpress,...... 20 US & Foreign Secur., 88% U S & For Sec pf(6). Pipe & Fdry (2). Pipe 1st pt (1.20) Realty (5). Rubbe: 58 U S Rubbe: 29% U S Smelt 49 USSmelt f. U S Steel (18).. ceacaaa wannn Univ Leaf Tob (3). Univ Pipe & Rad. 28 Ul Pwr&LtA (e3) 3' Vadsco Sales. 59% Vadsco Sal 48% Vanadium 33 Viek Ch.mlul(l“ - 15 884 Wabash pf A (5).... 224 Waldort Systm (1%) 22% Walworth (1.20).... ‘1% Ward Baking B. 71 Ward Baking pf (1). 82 Warner Bros Pic (4). 25% Warn Br P pf(2.20).. 15 Warner-Quinlan (2). ‘Warren Bros (19)... 15% Warren Fdry & Pmo tngh Atr Brk(2). 292% 100 Westngh EI&M (4). 22° Weston El Instru. 32% Wuton ElA (2).... Whenllnl &LEDpf.. White Bagle Oil 13) White Motor (1).... White Rock M 8 (3). White Sewing Mach. 30% White Sw Mch pf(4) 13% Wilcox Oll & Gas. ... 19 Wileox Rich(A)2%. 12% Whicox Rich B (¢2).. 5% Willys-Over (c1.20).. 80 Willys-Over pf (7).. Tor - 104 Yellow Truck &C... 33% Young Spring (3 103 Younx Sheet & T (5) 52% 18% Zenith Radlo (2).... RIGHTS EXI'IRE % Allis-Chal.n.Oct. 31 % Am. Roll. M.Nov. 1§ % Arch-Dan M .Nov 12 % Bangor&Aroos Nov § % Bucyrus Erie..Dec 3 6. Case (JI) ....Nov1s % Col Carbon ov. 11 28% Det Edison. ., Dec. 23 1 Gen. Asphalt.Nov. 27 3 Grant (WT).Nov26 Grigsby Gru.Nov— % May Dept $t..Nov.15 1 Rey Spr.....Nov 2l % No Am Co ..Nov 16 1% Uta un M. . Dec 31 & Im pt(s).. 24 128% 140 9% 40% 27 26% 28 32% 45 50% 30 118 1 1% 128% 140% 1% 624 25 a8 6614 40% 123% lZI'A 121!‘ llflh 26 k) 1% % 1% W % &l 28% 244 24% 20 3 1% 2% 32 2% % 1 kL 1 l'/a 2 U b % 1% e 30 2 ™% * 1 IK 24% % ~ » q% 30 2% of Stbeks on Nc-, llrl luhm 038,000 26 % 1w [ 1 3 32 3 3 Leading Issues Show De- clines After Sharp Rally at Opening. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, November 4.—The stock market, which rallied sharply in the closing sessions of last week, ran into a secondary storm of selling today as Wall Street continued to clean out its impaired marginal accounts and large traders took profits on stocks bought in the breaks of last Monday and Tues- day. An opening decline, 'lllch ran from 1 to nearly 12 points of the leaders, was followed Iry a brlfl rally, but fresh offerings appeared and scores of issues were selling 2 to nearly 20 points lower in the early afternoon trading. 'nunn. Is Heavy. g started at a terrific pace as blm:n ot gm to 50,000 shares were thrown info the market, but it slowed up later, and the ticker kept within a half hour of the market. Since the closing of the market last Thursday, Wall Street received the an- nouncement of a decrease from 6 to 5 El’ cent in the New York deral serve rediscount rate, the drop of more than one billion dollars in Federal Reserve loans last week and the record- breaking decline of more than two billion dollars in Stock Exchange mem- ber Joans last month. Offsetting was the Foshay failure in the Nol west, and the discovery of hundreds ’( additional weakened marginal accoun’s, as a result of the close checking up of records over the week end. Call money renewed unchanged todey at 6 per cent. Time money and bank- ers’ acceptances continued relatively easy. This was reflected in the gen- erally stronger bond market, which at- tracted a strong investment demand. Price Changes. \Jnlted States Steel common, which has been one of the bell wethm of the recent market, opened 8, points lower at 1841, rallied to 191 and then dropped back_to around the opening price. American , Telephone converted an early gain of 1Y into a loss of 1115, General Electric extended its opening loss of 3 points to 163,. American Tnbuw issues, Eastman Kodak, Westinghouse Electric, North American Co., Western Union, Air Re- duction, Johns Manville and Otls Ele- vator sold 10 to 15 points lower. Among the dozens of 6*hers to lose 5 points or more were New York Central, Allied Chemical, Stone & Webster, Standard Gas & Electric, International Tele- &m. Sears Roebuck and Consolidated FOREIGN EXCHANGE. (Quotations r-mum ir “ Hibbs afi:n 'l)ll' lor.::‘rl mknom, crowh. rmn: k'lenmna 9 Allis-Cha! 1937 Al "fl Ame s 5 Amer. Aills. Ss N ‘l“dh Batavian FL LT B PH ] & EF 282353285 e F o 283525808 0s: RS 3383 zes - F First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. We Buy and Sell Liberty Bonds Treasury Notes Etc. Bond Department The Washington Loan - Trust Company 900 F Street 620 17th Street o Mortgage Notes « Profiuble, conservative, invest- ment of your funds. . the safe, convenient security that is the first choice of the experienced investor, ) . : We will gladly tell you more of the 6% ngtes now available * H. L. Rust Compan 1001 15¢h Sereet N National 8100 Becabliched 108 ||