Evening Star Newspaper, November 4, 1929, Page 15

FINANCIAL. WATERWAYS PLAN STIRS OBJECTIONS Rail Interests Desire “lus- tice” in Matter of Rates on Freight. BY JOHN F. SINCLAIR. @pecial Dispatch to The Star. YORK, November 4.—When Pittsburgh celebrated last week the completion of the lock system on the Ohio River and the nine-foot channel Pittsburgh to Catro, Il six rail- Toad presidents were on hand to join in the festivities, A few years ago this would have been front page news. It would have sig- nified that the railronds had decided to co-operate in the vast Government m for the improvement of the | Fieoa waterways, including as it does 200 harbors, 300 rivers and more than 80_canals. February 1 the Mississippl Valley barge line expects to start a weekly common-carrier service between Cin- cinnati and New Orleans. It seems that under the Dennison amendment to the waterways act the Interstate Commerce Commission must institute roceedings with the railroads, requir- ing them to make through routing agreements with the waterway carriers. | Two Problems Involved. ‘There are two far-reaching problems involved in this, The first is that of finding whether the Interstate Com- merce Commission must proceed in this matter under mandatory methods, or whether such action 1s discretionary. Second: Just how far can the Govern- ment insist on promoting co-operation between the inland waterways and the railroads? ‘The railroads have not filed any ob- ections yet. R. H. Aishton, president of he American Railway Association, and opposing Government competition, asks “even-handed justice,” and has said | the railroads are likely to protest to the commission against granting the cer- tificates. Rallroads object on the ground that the Goverument, which has no tax bur- dens and o overhead charges, is giving a 20 per cent reduction from the cor- responding rail rates to those using the barge lines. evertheless, the presence of the rail- road presidents at Pittsburgh shows that they believe a closer and more friendly co-operation between water and rail in the interfor sections of the country is desirable. That's a good omen. Drought Affects Crops. The severe drought during most of the Summer was the real reason why -the total yield of crops this year throughout the country will run about 6 per cent below the ten-year average. according to the Bureau of Agricultural Economics of the United States Depart- ment of Agriculture. The drought caused a shortage of curtailing milk production siderable trouble to livestock men in the West. The dry season had its effect on many crops. The potato crop is esti- mated at about 350,000,000 bushels and is one of the smallest in ten years. | ‘The total carload shipments of fruits [' and vegetables for this year, through August and September, were 15 per cent smaller than last year. 8o prices are high for potatoes. This will have a tendency to stimulate and increase the production for next year in the early potato crop country. Florida growers now indicate that they will increase their plantings of early potatoes, starting in January, about one-fourth over last year. Southern Texas will add about 8 per cent. In the case of apples there was a forecast of 20,500,000 barrels, or about ,000,000 barrels fewer than a year ago. Apple prices are now running 50 per cent higher than last year. | ‘While crops are smaller in several | lines prices are so much better that the net return may be higher, on the whole, than a year ago. But this does not tell the whole story. Many farmers hlv!: no crops at ali, while others have but| little. Those lucky ones with big yields get the real reward. If only there was some way to Te- ‘ward farmers based on the amount of work they do—but that is an idle dream. The farmer, gambling on the weather, and on prices largely fixed on the outside, continues the world's great- est optimist, however. Group Life Insurance. During the present year disease will | have accounted for the death of 40,000 insured employes, whose dependents will receive as benefits $60,000,000. This statement is made by B. A. Page, vice president of the Travelers' Insurance Co. Accidents will have caused the death of nearly 6,000 workers more, for which claims will be $10,000,000. Then 7,000 employes will have been kept from work because of permanent and total dis- abilities suffered during the year, and they will receive $10,000,000 as a sub- atitute for their pay envelopes. Group life insurance began only 17, years ago. Yet more than a quarter of & billion dollars in benefits has been ?lld to 200,000 claimants. It is believed hat by the end of this year 6,500,000 employes of 20,000 concerns will be in- sured for a total of $10,000,000,000. This is one-tenth of the total of all life insurance in force in this country. the average, those included in group life plans are insured for $1,500 each. This amount is larger than the estate left by two-thirds of the wage earners of the country- It exceeds the average annual wage or salary income of possibly 45,000,000 workers over the | age of 10 who are employed in the United States. Including this type of insurance, the United States is the most heavily in- sured country in the world. Federal Reserve Board. “Is the Federal Reserve Board in good shape to handle the present situ- ation?” a Pennsylvania reader wants to | know. Excellent! The board requires that the Federal Reserve banks carry a mini- mum of 40 per cent reserve Against | their note liabilities and their deposits. Only onee have they gone below. That | was in the deflation of 1920. ! But the combined figures for the week ending October 30 show that the 6 2 17 70 17 120 29 74 146 35 10 16 18 22 691y 29 331 15 74 2247 109'% 99 2% 9 24% 299 205 n 2 16% 9M4'x 28% 8 14 12% 15 60 114 20 4 3% 4 ) 354 3y 42 28 * 3514 ™ 16% 29% 13% 32 17% 90 155 Biy 201 31 36 10 314 26'% 29 1 40 1% 16 25 27% 4% 55 24 100 31y 38 14% 4 b4 5 3 1% 3 3 Y% &l 5 52u 20 20 20 12 19% T 5% 6 52% n 974 20 87 34 60 35 461 6 20 2 % 4495 214% 103% 974 68% 10% 16% 20 4 12% 71 139 100% 24 5% an 37% 30 5% 11% 18 75 45 30 5% B 18 40% 45 84 8% 3% 26 ™ 17 401 5% % 5% 2 614 9 6 % 19% B59% 90 53 4 130 5 £ Federal Reserve has 69.4 cents in gold te hack up every dollar of deposits and | T deral Reserve notes outstanding.| “inis is 2 per cent better than a year | ago. { Boston has the highest ratio, 83.4 per cent. Chicago follows with 79.7 pel’! cent New York has 718 per cent.| Cleveland shows the lowest, with 54.1] per_cent. i Of course, the Federal Reserve has many critics. They attack it from dif- ferent angles. These problems we are not discussing here. Financially, the Federa] Reserve is in excellent sh , 1929, by North America (Coprrishts 195 oer Alliance.) NEW YORK COTTON. NEW RK, November 4 (#).—Cot- ton open‘{do steady at a decline of 2 to $ points today the trade paid very little Sihention o reports of rains in the South and while the initial offerings were quite readily taken by trade cover- ing and buying, selling increased right after the call. It was promoted no doubt by the weakness in the stock | narket and was sufficient to send the | active months 8 to 10 points below | Saturday’s closing quotations with Df-‘ cember easing off to 17.77 and March | to 18.20. The market was only moderately active but seemed rather unsettled and 114 22 26 10 10 9 50 108 3027 1041 92 927% 1 17 9 10 15 30 3 10! was within a point or two of the lowest at 10:30 o'clock. “:\' Privats teport was issued this morn! - cated crop at lB.MO,m and esti- )y mu‘?om prior to November 1 LRt 000 bales. 10 19 ~Prev.1029~ High. Low. 100% Stock and Dividend Rate. Acetol Prod A...... Aeronautic Ind war. 8% Aero Sup Mfg. B. Aero Underwriters Agfa Anscopf. .. Ainsworth Mfg 32%. 64% 44%4 Airstocks. Incvte.. Alabama Gt Sou 17 3% Alexander Indust... 5% Allegheny Gas Corp. 10% Allied Mills, Inc..... Allied Pow & Lt All P& L 1st pf Aluminum Co of A 1031% Alu Coof Am pf(6). 100% Aluminum Co.. Ltd. . Am Arch Co (3) 814 Am Br BEI fd shs. .. 33% Am Cit PAL A (a3).. Am CP&L B (b10%) Am Colortvpe(3)... Am Com P A ($30¢). Am Com P B (130¢). 4 AmControlOiIFld 28'% Am Cyanam B ( 314 Am Dept Stores Am Equities. . 521 Am For Power war. 110'4 Am Gas&Elec (21). . Am Gas&Elec pf (6). Am Invest Ine B. 5t Am Investors (war). Am Lt & Trae (10). Am L.t & Tr pf () "1 Am Maracaibo. 7% Am Natural Gas. ... 19'x Am Solvents Chem. . Am Solv Chem cv pf. AmStPSA Am Superpower Am Super 18t pf ( Amster Trad (1 An-A n-vot cod ( Anglo Chil Nitrat Apponaug Co (2). Argo Oil Arcturus Rad Tuba. . Arizona Com (50¢). . Arkansas Nat Gas. Atk N G cm pf (60¢). s0-Dyeing & Ptg Asso-Elec Ind Ltd. . Ass0 GEE A (12.40), Asso GEE A deb rts. Asso Rayon pf (6)... Atl Coast Fish(1.20). Atlant Fruit & Su Atlas Plywood (4). . Auto Voting Mach Aut VMevprpt (2). Aviation Corp of Am Aviation Credit..... AxtF Tob A (3.20).. Rab & Wilcox (7)... Bancomit Corp...... Bellanca Arcraft. Bell Tel of Can Benson & Hedg Bickford, Inc. . Bickfor Inc pf (213). Blaw-Knox Co (1)... Bliss Co (B W) (1).. Blue Ridge Corp. ... Biue Ridge Corp pf.. Blumenthal (S)..... Blyn Shoes, nc.. . Brazil Tr& Lt (2)... Bridgeport Machine. Brill Corp A (1%) Brillo Co (1.20). Brit Am Tob B t1. Br Celanese Ltd rets Buf N&E P of (1.60). Bunk H & Sull (19).., Burco, Inc. . Burco. In¢c (war).... Burma rets (31%e). Butler Bros (2). Buzza Clark, Inc Bwana M Kubw Cable R T vte. Cab&WireLtdA . Cab&WireLsdB rets. Cab&WireLedpf rcts Can Marconi s Carib Syndicat 5 Carnat Milk P (1%). Carnegie Metals. ... Caterpillar Trae (3). Celanese Corp. ...... Celan Cor 1st pf (7). Cent P Sv A (a1.75). Cen States Kl (140¢). Cen States El war.., Cen St EIptx w (6) .. Centrifug Pipe (60¢) Chain Stores Dev. Ches & Ohio (new).. Chi & NW bond rts. . Childs Co pf (7). Citles Service (3 Citles Serv pf (6). Clark Lighter A Clev El 1llum (30¢). Club Alum Uten. . Colgate Palm P (2). Colon Oll. . ...uvnvns Columbia Pictures. . Columbia Syndicate. Comwth Edison (8). Comwlith Pow pf (6) Comwl Ut B (150¢).. Community Water.. Consolidat Afreraft. Consolidated Copper Con Dairy Prod ($2). Con Gas Balt (3). Con Retail Strs Cont Diamond (2)... Continental Oil. Coon(WB)Co(2.80) . Cooper Bessemer(2). Cooper Bess pfA(3).. Copeland Prod Inc A. Cord Corp . Corroon & Revnolds. Cor & Rey pf A (6).. Cosden Ol ......... Cream of Wheat (2). Creole Petroleum. .. Cresson Cons (.08).. Crocker Wheeler(n) . Cr&Bpf (3%) wWw. 20 12 47 126% 2 Tl 106% 140 A8% > » W - FLanionennraRantwenene D 8 79 1391 1108 72 1% 2 284s 86 6% Arkansas Nat Gas A, 203 20% 18% 48 50s 128 4 97 4 1% 1155 85 e e L wBeRns Cumb’'Ind Pipe L(4). §0s Cun Press pf (6%3).. Curtiss Flying Serv. Curtiss Wright war. Cusl Mex Mining. Darby Pet (1).. Davenport Hos (2). Deere & Co (6). De Forest Radio. De Haviland (50¢). . DH A Ltd rct n(50e). Derby Oil & Refin. .. Detroit Arcraft Cor. Dix Gas & Utilities. . Doehler Die Casting. Dolores Esperanza. . Douglas Aircraft. Dow Chemical (2). Dow Chemical pL(7) . Driver Harris Co. ney Dubelier Cond&Rad. Duke Powder (5)... Durant Moter Duz Co., Ine., A. Earl Rad1o COrg. ... East Gas & F As80. . East States Power B Eastern Util Inv A. ler Elec Corp. Bond & 8h (b§) . E1 Bond & Sh pf (6). 1 Investors (b6%) . 10% ElP & L opt war. . 3% E| Sha 45'% El Sharehold pf (6). 91% Emp G ¥ cum pf(7). 25' Empire Pow pt (2).. 01d ¢31) Engineers Gold...... Eng PSopt war..... Evans Wallow Lead. 1% Fageol Motor. 5% Fairey Aviatn Fairchild Aviation. .10 Falcon Lead. Enam A (16%).. rets. ninv N Y (b8). 1dn P&LLDE (7). Fokker Aalreraft. Foltis Fischer Corp. Ford Motor Can A. .. Ford Motor Can B. Ford Mot of Frane 4 Ford Motor Ltd..... Foremost Dairy Pr.. Formost D P pf 1.60. Foremost Fab (D.’.. 4 Dixon (J) Cru (112). 108 22 2508 1 3 80 9 THE EVENING STAR, WASHINGTON, Sales— Add 00. Open. High. xn'-'.‘ 218, 25 30% 48 128% 4 % 106% 140 3574 139 181% 103 103 17% 157 o 317 4% 481y 128 128 128 91 97 1% 1% 1% 165 155 155 5 5 5 20% 304 207 3014 20 30 4 4 25% 26% 2% L 6% 3 24 1% an 1% 36 9 59 22% 31 11 100 % 250 Stock and Dividend Rate 2% General Baking. . 50 General Bak pf (6).. 7% Gen E Ltd rcts (50c) 32% Gen Empire Corp... . 13 GenGas & El A..... 17 Gen Indus Alcohol 10% Gen Lau Mch (1.60). 45'% Gen Print Ink (2%). 11 Gen Rity & Utilities. 747 Gen R & Util pf (6 26% Gen Theat Equip vi 80 Glen Alden Coal (10) 13% Globe Underwriters. 35 .18 Goldfield Consolidat. ) Goldm Bach TC (bé 1'% Goth Knitbae Ma. 26 Gramaphone s.rots 324 Graymur Corp. 12 6114 12 0% 10% 27 55 4 121% 10 16'% 1% 8% 15% 10 T 17% M 3 ] 6 21% () 14 35% g 22 2614 5 26 LU 20 200% 13 5% 18 25% 28'2 3 4 12% 434 1 16% L) B 341 5 12 1 254 1% 9% 19 3 105 80 2 1% 18 18 28 40 31 2614 % 10 % 1 1% 1w 5 35 28 18 15 20 8 1% 28 8 99% 1% 38 “ 7 10 25 5 24% 13 2314 13 A 10% i 17 23 2% 69 135 30 8 25 4 11% 4 111 12 3% 2 20% 22% 1% 15% 10 6% 8 8% 115% 23 4% 2515 12% 1y 3% 6 44y 154 4 102 15% 16% 20 81 501 25 85 Grand Rap Var (1), Sales— 1 GrA&PTnv(5).. 4208 Gt LakesSteel pt pf. Greenfield Tap&Die. Greif &Br pf X (7 Groe Stors Prod vie. Ground Gripr(t14). Guard F Assn (2). Guardian Invest. ... Guif Ollof Pa (1%). Hall Lamp (12)..... Hall Printing(t1%). Hap C A (b1.4C). Haygart Corp. Hazeltine Corp (1) Hecla Mining (1). Helena Rubenstein Hevden Chemie (2). Hires (CE) A (2). Horn & Hard (2%) Homaokla Oi1. Houston Guif Ga, HudsonBayM & S Houd-Her cv pfA2i4. Humble Oil (12).... Huyler Stores of Del Hydroel Service (1). Hygrade Food Pros Imp O11 Can n (50¢). Indiana PL new 123 indian Terr Illum. .. Insull Util. Inv.. InsCON A (12%)... Insurance Sec (1.40) Intercoast Trad Co. . Int Petroleum 37%4e. Internat Produets. .. IntSatRB (12%).. Int Superpower (31). Intercontinent Pet n Inter Util A (313) Inter Util B (3% Internat! Util (wi Interstate Equities. . Interst. Eq. cv-pf.(3) Iron CapCopper. . ... IrvAir C (2) (1.50) Itallan Superpow A.. italian Superp war. . Johnson Motor Co Jonas & Naumburg. . Karstadt (R).. Kirby Petroleum Kleinert Co (2%). Kolster-Br (Am Sh). Lakey F & M (12.40), Lazarus F & R Co Lefcourt Real (1 Leh Coal & Nav (4). Lehman (The) Corp. Leonard Oi1 Libby McNe! e Lily Tulip Cup Corp. Lion Ol Refin (2)... Lone St Gas (80¢). Long Island Lt (40c) Louisiana Lan & Ex. MacMarr 8ts........ Magdalena Syndicat, Marcont I M (37%c¢). MarWireTel Ltd 62c. Mar Midland Corp. .. Margay (2)... . Marion Steam Shov. Marland of Mexico. . Mason Valley. 5 Mer Chap & S (1.60). Mesabi Iron. .. . Met & Min Ine (1.20. Met Chain Stores. ... Mexjco-Ohio Ofl..... Mid West Utll(new). Mid Rovalty cv pf 3. Midld Stl Prod 15.92. Milgrim & Bros. ... Min Corp of C (25c). Mock Judson Voe(2) Mo-Kan P L (b8%). Moh Hud P24 pf(7). Montecatini deb rts. . Moody's 1 S pt pf (3). Moun & Gulf (.08) Mount Prod ( Municipal Se Nachman Spring (3) Nat Amer Co (2 Nat Aviatton Nat Fam Strs (1. Nat Fuel Gas (1) Nat Pub Serv B 1,60, Nat Screen Serv 1.60 Nat Sugar NJ (2)... Nat Toll Bridge (A). Nat Trade Journal Nat Transit (11%).. Nat Union Radio. ... Nehi Corpn (1.30). .. Nelson (Herman){2). New Bradtd Ol 50c. . New Jer Zine (13). Newmont Min ($4).. Newport Co (new) N Y Auction (1%) N Y Invest (1.20). N Y Invest (war)... N'Y Pet Rovalty (1) N Y Tel pt (614) Niagara Hud P(4 Niag Hud Pw A war. Niag Hud Pw B war, Niagara Sh ( _ -40). Niles Bement Pond. . Nipissing (30¢ Noma El Cor ( Noranda Mines. North Am Aviation. North Am Util Sec. . North Cen Tex (60¢) North St Pow A (8). N W Engineer (2) Ohio Copper. . Ohio Ol (1234.. A Outboard Motor (B). Pac G&EL 15t pt 114 . Pac Western Oll.... Pandem Oil. Pantepec Of1 Parsm C Mfg (2.40). Parke Davis (11.40). Parmelee Tran (134) Pen Oh Ed pr pf (7). Pennroad Corp. .. Penn Gas&F1 A 1%, Penn Mex Fuel (2).. Penn W&P (2%)... Peop Drug Strs (1).. <) 2 y B e P N S TR LT TP Mo ak o PR BN BernaBuBeas=3 o oo - © " PRl ne~REe e aran~a-Rrenaanan ve o R=a =3 ameenESanr~ mSanST o mnnN 2 RO BNA IR Peo L& P A (22.40). 3 Pepperell Mfg (8) 10% Perryman Electrie. 114 18 15 Pet Milk pf (7). Petroleum Corp Philippe (L) A ( 10% Philippe(L)B(1.60). 4 Philip Morris Inc. 231 Pie Bak of Am A(2). 10% Pierce Govern (1%4). 12 12 101% Pitts& L 22 Pilot RT A (1.20) Pitney B P n(20¢) (5). Pitts Plate Glass(2). Plymouth OIl (2)... 17% Polymet Mfg (31)... 4% Potrero Sugar...... 60% Powdrell & Al (3%). 83 15 60 Pwr Corp of Can(4).. Power Securities. ... Pratt & Lambert (4). 1% Premier Gold (24c).. 67 Prince & Whitely. ... 32 Prince&Whitely pf 3 19% Prop Silk H M (2) 5% Prudential Inv. 6% Pyrene Mfg (8, 59 Rwy & Lt Sec (14).. 10% Radio Produets. .. .. 9 Rainbow Lum ProdA 5% Rainbow L.um ProdB 27% Reeves (D) (1.20)... 1% Relter-Foster (10¢). 12 Rellance Manage. ... b1y 19% Reliable Stos .65 Repett! Candy... 84 Reynold: Bros Ine. .. 22% Reynolds Met ( 4 Richmond Radiator., n @ 'S we womenaBlEats nEuolnmmpmmnon~SnnmRenE Add 00. Open. 23 3 16 85 4 315 23% D. C., MONDAY, L 1929 Sales— Low. 12 a2 Stock and Dividend Rate. Rich R cum pf ( Rike Kumler. Roan Antelop: & Rockland L & P Rolls-Roy Ltd rcts Roosevelt Field,Inc. Ruberofd Co (4). Russek’s Fifth Ave Ryerson (Jos) (2)... a2samue 8t Anthony Gold. St Regis Paper. .. 8t Regis Paper pf(7) Safety CH&L ¢110).. 25 Salt Creek Con (40c) alt Ct # Schiff (The) Co (1) Schulte Real E: éelec'?d Industries. Seiect Ind 2d pd o 3 Selfridge Prov S 27c. & Sentry Safety Cont Sharp & Dohme. . Shattuck Den Min. Shawin W& P (2). Sheaffer Pen (13).. fhndoah Corp(b6%) Shenan Corp pf (3).. Sierra Pac Elec (2) Silica Gel et.. . Silver (Isaac) Bros Silver(Isaac pf (7).. 258 Singer Mfg (12234). 121s Singer Mf Ltd (30c 8 Sisto Fin Corp. Sonora Products. —o [ ) P T 1 Sonth Penn Oil (2 1 SEP&L(b4). 3 SoCal BApf A (1%) 1 SoCal Edpf B(2%4). 2 80Cal A pfC (1%). 1 So Col Pow A (2).. 9 Southern Corp. .. 6 80 Ice & Utilities B.. 7 So Pipe Line (1). 1 Southland Roy (1).. 12 S W Dairy Products. 7 4 SWGasUtil....... 8 Spanish&Gen rcts B, 12 Spie-May-Spf (614) 1 4 Stahl Meyer. Ine.... Stan Gas & El pf (7) Standard Motor. St Oil of Ind (2 St,0il of Kansa: st'0ll of Ky ( s (50 St Oil of Ohla pt (7). 50s Stand Pow & Lt. 9 St Pow & Lt pf (1) Std Silver Lead. . Stand St Propeller. . Suarrett Corp. . 4 Starrett Corp pf( 3 Stein (A) & Co. . 2 SteinA&Cocu pf 614. 50s Stern Bros B ctfs Stinnes (Hugo) . . Strauss (Nathan) ... Sirauss Roth. ... Stutz Motor Car. Sun Inv pf (3 Swift & Co (8 Swift Intl (2) Swiss-Am Syrac Wi Taggart Corp. .. Tampa Electrie (32). Teck Hughes (30¢c) Tennesses Product; Texon Ofl & Land. .. 4 14% ™ NOVEMBER 4. Add 00. Open. High. Low. 1929. 15 1 381, Tish Realt: Tobacco & Tri Utilith Tub Art Si| 4 U S Dairy U 8 Dairy U S Foil B US&InS U S Gypsu U S Lines U S Rubbe) Utility & I i1 & Ind ‘an Camp Veeder Ro Waitt&Bol Walgreen Walgreen Wayne Pui Wes Auto Winter (B 3 Asso Gas & Mid W N Y Central 4 Pennroad Trans Corp. Stock and Dividend Rate. Thermoid Co (2) Trunz Pork Stores. . Tung-Sol Lamp (2).. Ulen & Co... Un N G Can (1. Union Tobaceo Utd Carr Fi 4 United Corp war, Unitéd Dry Docks. United Eleo Ser..... 4 Unit E1 Ser pur war. United Gas Co......, UnitL&PA (60c).. 9 Unit L&P B (80¢). Utd Lt & Po pf (8).. Unit Milk Prod pt. ... 51 Unit Reproducers B. 1 Unit Sh Mch (13%) .. U § Fininshf United Stores. ... Unit Verde Ext (4). Unity Gold. . . til Power&Lt(31). . UtP &L Bectfs (31). Utllity Equities.. Vacuum (4). . m Camp Packing.. Viek Fin Corp. Va Raliway v.t.e. Walker (H) (1 Walker Mining. Watson (J W) Ct West Air Exp ( Western Md pf (7).. White Sew M de rts.. Villlams R C (1.40). -Low Cafeteria.. -Low Caf pf (4) Woodley Petroleum. Worth, In¢ A........ Zonite Prod (1.60)... RIGHTS. Kreuger & Toll 14 st Util. ... . Nov. 15 t Uthl(pr) .Nov. 18 Sales— . Open. High. Low. 23% 28 4319 3.18 234 Thomp Prod A (13 ¢ Thomn Star pf (3%) v & Con All Stks. . %« Tobacco Pr Exports. Todd Shipyard (4).. 4 Tonopah Min (16¢ 4 Transamer n (31 Trans Alr Trans. .... Tran-Lux DLPSA. Tri-Cont Allled. ... Tri-Continental Cor. Tri-Cont Corp pf (6) Triples Safety Glass .. 0). 11 1 g. 1k B (10). ¥'1.20. o EX Y- 19-PIeE A ). B. «a ctt & m (1.60).. r Reclaim. - S Sracovnannoadn a nd Pf(1%).. b= 101% 101% 14 13% 43 9y 2% Ppr1%). ot (2%4)... P L Tt T TP NI E-TOREY SRR PRSP nd B 1.40 Co. 12 2% Co wi Fl mp. Sup A (3) ni)...... Expire. Eel...Dec. 16 Dec 2 Zonite Product: Washington Ticker BY CLINTON COFFIN. Associated Press Financial Writer, Prospects for any early reshaping of the country's railroad map or for any early reconstitution of the rail corporate structures under the principle of rafl- road consolidation have been perceptibly on the wane during recent weeks. While the dominant interests controlling the Baltimore & Ohio and Chesapeake & Ohlo systems put forward last Spring most serious proposals to the Interstate Commerce Commission, looking to the absorption by each of these roads of a great amount of existing rail mileage now in other hands, it has nov become known that s to the proposals have been notified that the commission cannot even give their plans a hearing this year. It is also understood that the Wabash Railroad plan, which out. lined an expansion noticeably conflict- ing with the C. & O. and B. & O. pro- posals, likewise cannot be heard. In addition, it is becoming rumored | that the chief Western consolidation pending, by which the Northern Pacific, Great Northern and Burlington sys- tems, already linked in common par- lance as the “Hill Lines,” have sought complete unification, will not be de- cided upon by the commission while the present situation prevails. Wash- ington observers feel that the key to the situation is the desire of the com- mission for some new re-expression of public sentiment in statute before it of ficlally sanctions more extensive merg- ing of the raiflroads than has ever been accomplished in the past. It is also evident that the commission is shaping up a move to let Congress have a full and fair chance in the next year of two to give such an expression The present law provides that the com- mission shall prepare a general plan for consolidation of all the roads of the country into 19 or 20 systems, with the idea of maintaining competition rather than creating regional systems. The hasn’t been made—the commission has previously asked twice to be re- lieved of the responsibility, but Con- gress hasn't done so, and now & plan will be forthcoming within a few weeks. Commissioner Porter of Iowa has been most identified with such work, but the diagram which will be ready in Decem- ber or January will be a composite af- fair, representing ideas of all the men of long service on the commission. Meanwhile, it is the best guess that nothing is going to be done to change the present general rail organization. That is the more truth in that the rather prosperous state of railroads is being fully maintained. Traffic fore- casts of the American Railway Associa- tion call for a volume of freight busi- ness during the coming two months which is more than 2 per cent of the big business last year in the same pe- riod, and the association’s possibilities for the opening of 1930. The most competent judges see little chance of any slackening of rail traffic in the near future. “We shall unquestionably realize the | estimated trafic for the balance of 1929," said M. J. Gormley, manager of the rail association’s car service division, which represents co-operation of the carriers in traffic matters. “Rail traffic is 30 basic a matter that fluctuations of other husiness do not affect it immedi- ately in any case.” This evident rail prosperity is un- questionably an element in the hesita- tion of the Federal authorities about permitting any serious innovations in the broad rail structure without clear | showing of advantage. | ‘The Great Lakes coal trade, one of the bigger factors in the bituminous field, is now winding up what appears to be the best year of its recent history in point of volume. Up to October 20| vessels at Lake Erie ports have loaded 33,115,182 tons of coal for carriage to tlLe Northwest and ports in the upper lak glon. This with 28,- x218. the same the 1927 period. ‘This current expansion in one of the most important coal markets is a mat- ter of considerable gratification to the mining industry, and is one of several favorable showings which enabled Harry L. Gandy, executive secretary of the National Coal Association, to de- clare recently that “the bituminous in- dustry is definitely on the upgrade.” Coal men have been Inclined to resent what Mr. Gandy calls “loose talk about % | the bituminous industry which would % lead one to belleve that every ton of coal has been for WI‘l;'e ltmln';: gradumd at & loss,” tions n some months. In the endeavor to ascertain just what are the facts on the score, the associa~ tion has gathered the operating statis- tics for recent periods from all the more important coal companies in the United States, and concludes that a substan- tial number of them have realized profits this year. Taking the latest six months rrlod which the figures cover to June 0, 1929, 177 corporations producing 51,193,328 tons of coal, which is per- haps 20 per cent of the national out- put, realized a profit just short of 20 cents per ton. Another group of 154 mining enterprises, producing 24,986,692 tons, was found to have shown operating loss of 18 cents per ton. Tak- ing the composite findings, for the first six months of this year, the figures in- dicate an average profit of 7.3 cents per ton on coal produced, while in the same period last year the margin was but 3.6 cents per ton. ‘While the gain for the year has been heartening, Mr. Gandy expresses doubts that it yet gives an adequate return on capital invested in the industry, since he concludes that it is possible that the “profitably marketed coal brought & return of slightly under 4 per cent on investment.” Yet with improving export and lake cargo the year’s results in an industry which has been regarded as depressed may be much more satisfac- tory than supposed. While people involved in the stock markets last week pushed cable, tele- phone and telegraph communications to the limit in endeavoring to meet their kaleidoscopically changing specu- lative situations, they didn’t apparently find necessity for resorting to the new air lines, which represent the fastest means of personal travel. Paul Hen- derson, operat! vice president of the Transcontinental Air Transport, which operates coast-to-coast in conjunction with the Pennsylvania and Santa Fe Systems, says that traffic figures did not change perceptibly during the | ti period. “We can’t find that there was any | Kent Counties, effect from market excitement,” he said. “Passenger transport over the airlines is continuing the same slow growth. and now is running to 40 per cent of our capacity.” silver, Quiet Wires —Hog cholera in Maryland decline during Octobe: ing agal report on the Maryland vmver;l:iy. chester, Howard and Queen Anne Coun- les each reported exceeded onf;o Anne Arundel ang ales in " thousands. (3 &1 - g=aBEEs <) :n;z 8 i 8835 s ', Saite gfl‘:wgmn Spary e &3 > > Sres ot s o P : 2 Ger Cons Mun T 5 Rumania Inst 7 —, 1 sales. xr—Ex-rights. wi—When issued. n—New. Ww—With warrants. xw—Without warrant: H0G CHOLERA DECLINES. BALTIMORE, November 4 (Special). showed a r, the disease be- to exist on 51 farms, ear ago, according to a ive stock service of the Dor- reported inst 294 a Montgomery, ince Georges, 4 outbreaks, be; ich had 6. SILVER QUOTATIONS. NEW YORK, November 4 (#)—Bar 497 Mexican dollars, 37. YOU had called at our offices last week, you would have found no change in their usual quiet atmosphere. anxious clients crowding in to ask for the last quotations ments—no franfic telephone calls or peremptory orders by The stock market h was the greatest uncertainty as to the effect of the loss of on general business. Company had nothin, For more than sixty have seen the First Mortgage Notes offered through Swartzell, Hensey Company yield their unfailing return through years prosperity. Thousands of men and women of mod- erate means now enjoy the steady income which these Notes assure. Available in denominations from $100 to $10,000, they afford at least one you know that no investor has ever suffered loss. security in which SWARTZELL, RHEEM & HENSEY CO. MORTGAGE BANKERS 727 1S STREET ~.w./ WASHINGTON D.C. There were no on their invest- wire. ad crashed; there g to worry them. years our clients Rheem & of depression and CURB IS FEATURED BY CITIES SERVICE iSale of 225,000 Shares at Opening Is Sensation—Is- sue Shows Gain. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, November 4.—Cities Service common opening at 41%, up 4% points, on a block of 225,000 shares, furnished a sensation in Curb trading today, as an avalanche of orders started the market irregularly. ‘The specialist handling Cities Service common was 8o swamped with orders that it was more than an hour after the opening gong before he was able to open the stock. The Cities. S8ervice opening the largest in the history of the New York Curb Exchange. It compares with 180,000 shares of Cities Service last week, which exceeded by 80,000 shares the previous records held by Common- wealth and Southern and General Bak- ing common. The opening was lower, but a rally set in_immediately after initial liquidation. Leading Curb issues, with their 11:30 * prices and net changes at 10:30 fol- low: Assoclated Gas & Electric, 497, up '%: American Cities Power & Light A, 43, unchanged; Allied Power & Light, 47%, off % American Superpower, 29%, up %; American Investors B, 1&"’,’&.;‘5 Ya; B‘lue Ridge, 10';, off % e ige preferred, 327, %; ) tral State Electric, 32, Dg lu’p o un?l’l"elsl |S:rvlce, which did : am., with 40'y at 11:30, gn;%&h;;n its alsnltinl nfe; Electric are, 89, off 1ly; Sharehoiders, 15, up 15 . 2 Ciectrie Fourth National Investors, 44!, une changed; Goldman Sachs, 5713, off 13, Bennrona” Corporation.” 187s, rporation, 187, off Prudential Investors, 19, oft ' Shen- % Shenandoah pre- . 31%, of ; Uni s, 26; Utilities Power & Light, 19, unchanged. GRAIN MARKET. CHICAGO, November 4 (#).—Wheat underwent a decided fall in price early today, largely as a result of stock mar- ket weakness. There were also reports of little chance of moving out any of Chicago's stock of wheat before the close of the Great Lakes mayigation. Opening at 3, to 214 drop, wheat values later showed but lttle power to . _Corn, oats and provisions_also were weaker, with corn starting % to 7s_off and continuing to sag. Wheat traders took their cue to & great extent today from downturns of values in the stock wheat continued also as & weight on the wheat market. It was pointed out that in view of the limited time left before the end of the season for navigation on the Great Lakes and with, seaboard wheat now 15% a bushel less ‘than Chicago parity, scant likeli- hood existed for near at hand removal of stocks of wheat in Chicago elevaters. Pronounced falling off in the amount of wheat on ocean passage failed to have any stimulating effect today om wheat prices, notwithstanding that the total afloat was much lower than efther & week or a year ago. On the other hand, Argentine wheat crop prospects were reported improved, owing to fa- vorable weather. STEEL OPERATIONS. NEW YORK, leeul:l’n:e (#).—Steel companies operating Valley district report varying rection ‘ofie others. Tin hznpmdnm . =Pl 60 to 75 per cent of ea) merchant steel bar up T cent. On the other hand, open- earth steel oul declined, with 27 ef the 51 independent smelters operating. ——e Fox Pilm Corporation sells 25,000 common shares of First National Pie- tures to Warner Brothers Pictures for $10,000,000; full 1929 net to exceed $13 per share, against $6.48 in 1928. 5. not _open Real Estate Investments JAMES Y. PENNEBAKER Nat.5291 1520K St. N.W. "Money to Loan e reveiiing et el Sesmmism e Joseph I. Weller 420, ¥ash L. & Truss 6% First Mortgages For Sale JAMES F. SHEA 643 Louisiana Ave. N.W. irst Mortgage Loans for, 3, 5, and 10 year periods on houses, apartments and busi- neess property in Washington, nearby Maryland and Virginia Randall H. Hagner & Company, Inc. 1321 Conn. Ave. N.W. Decatur Correspondent No Tsnors March 15 —if you know Income Tax Law and Procedure. Special 24-lesson course for Busy Business Men— taught by a Tax Specialist. Class Begins 5:30 P.M. | Tuesday, November 12 STRAYER COLLEGE OF ACCOUNTANCY 721 13th St. Nat'l 1748