Evening Star Newspaper, November 14, 1929, Page 15

American Bankers’ Presldent Also Talks on Rights of Small Investor. BY JOHN F. SINCLAIR. Bpecial Dispatch to The Star. NEW YORK, November 14—Again John D. Lonsdale, St. Louls banker, president of the American Bankers' As- sociation, insists that big business, to sucoeed and be effective, must retain for the individual and for his At present there are something like 3,800 -euve trust nts assoel- ated 'lt.h Amcruln inks, as against hk‘uw‘w uun ‘see to it m“t :o m;c; W, no matter wha detalls demand ou!r:nentlon we do not lose our individual solicitation for the welfare of our customers,” says this A good word he rt existence,” he “Advertising 18 the life-giving item in ‘modern busin l% of tes & desire for passession.’ But it is upon the subject of life in- surance that Mr. Lonsdale is most elo- quent. His advice to the young woman about to marry is: “Marry no man who is 0 t.hwlhtla- as to scoff at life in- Tk, iter of a plane’s’ ides! place to think A Nmun. “It's going the future for hntflefl - 'A'hhfld. l:l"dll.nd'lt.h le.nlot F: plenty mw Ainsworth Mfg 3! Alr Investors com Alrstogks, Ine v te §41 ll'l llfl All Gt8pf 37 r Indust. All s Co! 2% 10% Alll.sll"l. Ine. 23 Allled Pow& Lt. % Allison Drug 8t B... 53915 146 Aluminum Co of Am, I.O:k 103 Alu Co of Am pf(6).. 99% Aluminum Co,, Ltd. . 20 Alumin Goods (1. ) Am Gas&Elee (31).. Am Gas&Elee pf (6). Am Dept Stores. Am Equities, Am For Power war. Am Pneumatie Am Solvents Chem. Am Solv Chem cv pf. AmBtPBA (1. Am Superpower. Am Super 1st pf (! Am Superpow pf (6). Amster Trad (1%).. Anchor Poest F (32).. Anglo Nor Hold..... An-Am vot cod (35¢) An-A n-vet cod (35¢) Anglo Chil Nitrate, Apex Electrieal M1 Arizona Power. 6% Arkansas NatGas A, 3 Asse-Dyeing & Pts. . 5% Asso-Blec Ind Ltd. . 854 Asso G&E A (13.40), 344 Asso GAE A ded rts, 16 Atlas h‘l Cem (2 'm Aute Voting Maeh. 16% AutV lov"pl @), 24 Aviation Corp of Am 12 Aviation Credit,,... 10% Aviation Securi 32 AxtF TobA (3.20),, 46% Bancomit (new) wi. < 144 Bell Tel of Can (3).. 5 Bellanca Aireraft, .. 28% Bickfor Inc pf (334). Knox Co (1), vy Co (BW) (1),. dge Corp £ Bram) Tr & 1t 1% Bridgeport Mach! 16 IrulcornA(ut) 5 Il Corp B, . Q" L (16) &8 P pf (1.60). 26% lw I'lnlflnllull “9).. 3 Cab&WireLtdA N!l- 1% Clb.WinLl‘l nll. 3 “l:fl Gr. 3 e E B T s S ™ » aw am BrenBa n.-.-e-....-..-m-.fi.#. ao 311 - ™ A S - - B AaGAm- - M- 18% . o o-nnnc (L::)' . .16 ol i ll- Sach TC (b6). 26 Gorham Incpf (3)... 1% Goth Knitbac Mach., Gt LakesSteel Ground Gripr(t1y§ Ground Grip pf (3) % Guit ol ofP- (I%). Hall Lamp (12)..... Hall Printing (11! Hap C A (b1.40), Hartman Tobaeco. gart Corp. .. Homn'w Gold (60e) Homaokla Ofl... Hnlm Her ev. lfAI'L Gult Ga Hue Ly Humble O11 (12) Huyler Stores of Del Hydroel Service (1).. Hygrade Food Prod. Illinois P L (20)....2608 Lmp Ot Can & (60¢). Indiana PL new 1234 Indjan Terr Illura. .. Ind Fin eftas (b10%), 11 Util. Inv., i1 Ut In 2d pf Int Petroleum 37%e¢. Internat Products. t ower (11), % Inter UtiT A (3%), Inter Ut{l B (3% pCop] 9% Toot Frasehint (1 0!6 “t:l““ Superpow A. M Jonas & N-umiwg 16% Jon & N cum pf (3 12% Kermath Mfg (1)..., 1% Kirby Petroleum 26 Kletnert Co (2% 26 Knott Corp (2.40). 1% Kolster-Br (Am Sh! u‘w- F&RCo. 3« bl!uuv Real (1.60) Leh Coal & Nav (4).. % Lehman (The) Corp. sonard Oi! ur Corp. . 10 &PTnv(5)., 9708 114 Gr A &P Teapf(T) o EPNI TS —n:.n IR Y TIPSR PN Boomonrs > m’nmm Low. Close. 22 12% Polymet Mfg (31 4% Potrero Sugar. Rwy & Lt Se0 ( Rainbow Lum ProdA Rainbow Lum ProdB Relter-Foster (10¢).. Reliable Stoes b1 .. Rellance Manage. Repett Candy. Reynolds Bros Ine. .+ lds Met (! Rike Kumle: Roan Antelope Min, Rockland L & P. Roosevelt Fleld, Ross Stores, In Root Refining. Root R ev of (1. Ruberoid Co (4) Rnnek 's Fifth Ryerson (JT)(12%). St Regls Paper...... St Regls Paper pf Salt Creek Prod (2) Schlet & Zan (2), 3 = = S .= ) o 05l T arnSi8 vrarnaRoSnionnafioSna Shattuck Den Min, .. Shndoah Corp(b6%) ) Singer Mf Ltd (30¢) Singer Mfg (12214) . Siato Fin Corp...... Solar Refining(2%) . Sonora Products. ... SoCal Ed pf C (1%) So Col Pow A (2) Southern Corp. So Ice & Utilitle, So Pipe Line (1). Southland Roy (1). S W Bell Tel pf (7).. | W Dairy Products. 8 W Gas Util.... Southw P&L pf (7). . 1 Sple-May-S pf (614). Stan Gas & El pf ('l) St Ol of Neb (13%). St Ofl of Ohlo (23%). Bis 4 St Oil of Ohlo pt (7), lll 4 Stand Pow & Lt..,. Standard Screw (") 25! Std Silver Lead, . Starrett Corp, , Starrett Corp pf(6) % Stein (A) & Co. Stein Cosmetica Tna, Sterchi Br 8t (1.20) . Stinnes (Hugo). . Strauss (Nathan).. Special Dispatch to The Star. BALTIMORE, Md., November 14.— Potatoes, white, barrel, 1.50a6.10; 100 pounds, 2.50a2,90; sweet potatoes, bar- rel, 1.75a2.00; yams, barrel, 2.65a3.25; beets, 100, 3,0084.00; beans, hamper, 1.5084.50; brussels sprouts, quart, 10a20; cabbage, hl:rel’ 40a60; carrots, IW. 100.5 00; caulifiower, 2.25a3.00; celery, 2 9% 1 1001 1090 108" 1001 5 24% 26% 24% 26% ‘T% Texon Oll & un‘ 19 ‘Thermold Co (2). 71 Thermoid cum ‘(')A 27 Third NatInv (1)... 18% Thomp Prod A (12),: § Thomp-Starrett. ‘Thomo Star pf (3%). - carilonanunasnntona NBONSWNe nad B 1 1% Unit Prof 8h (1.20),. 1~ Unit Reproducer: 48% US Dairy A (4). 20 U S Fininshing ($3). M USFollB(1)...... 861 U 8 Gypsum (1.60).. 60 USB&InSetf(2%). 16% U 8 Lines. Utll & Ind pt (l“). . Utll Power&Lt($1).. UtP&LBetfs (31). Utllity Equities.,... uum Of1 (144) Camp Packing.. Van Camp P pf(1%). Ylek Fin Corp. ... Va Rallway v.t.e. Vogt Mfg Co (2) Waitt & Bond A (2).. Walgreen Co........ Walgreen Co w. Walker (H) (1 Walker Mining. Watson (J W) Wayne Pump. Weat Alr Exp (60c: Western Md pf (7)., Western Pow :l M. White Sew M de rt Woodley Petroleum Zonite Prod (1.60)... 17 20 RIGHTS. 3 > 1% % Asso Gas & Eel 18 % % 9% 4% N Y Central 32 4% 5% 4% 5'/4 2% % Pennroad tyidend rates in dollars based on last quarterly or semi- v} Plus cash or stock, 'm‘ n stock. i d P.e,x‘!"rll. l?n": l!:elfl’.:l.:cli » . «Nov.19 324 % % % % PROPOSED TAX CUT 5% WILL AID BUSINESS| 2 Action of Treasury Head Is its territory. About a third of the profits made in 1928 by one of the big equipment manufacturers tfvm its lnv-tmenu One big concern owns a huge block of -!nu- of another b B S shape of divid amdmh. -mekwmwmu e:fi fall in d h“n th‘ Mm company-cannot u\:.ufh ltl EURB SHARES EAIN INHEAVY BUYING Market Shakes Off Depres- sion as Brisk Rally Develops. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, November 14.—Heart~ ened by a series of constructive de: npmen'-s overnight, curb exmni. stocks today opened from 1 to 10 poin! hsxn:r-ndheldmlrwmweu ‘The better tone resulted from a cancellation otmuketuumlordenumuu h purchases. ly held stocks showed the sharp- ue recovery clearly indieating mz 2 sizeable rn. of today’s rally was du: to the public. Margin lquiremh Eased, The New York Curb Exchange, unlike the Stock Excl plans no ques- tionnaire to ascertain the size or source of the short*interest, because, with the possible exception of five or six lnm.n{ % | stacks, so few issues on the Curb can be short’ wi sold safoty. 9 Bond & Share: Transsmerios, Standard re, Transamerics, Ol of Indiana, American iuwrm and a few others are said to harbor sizeable short interests, which mm’ will elimb out if the rallying ten continue. Constructive developments, aside from the promised income tax cut and the firm bid of 50 for 1,000,000 shares of Shnd Oil 6f New Jersey on the big board, included a further loosenini of margin requirements in international markets like Montreal and the better tone of tradin, They were followed by the Standard Oils, virtually all of “which felt !hi influence of the bid for Standard of New Jersey. Accom) he rally in olls were the _utilities, truflnl and aviation shares. Some of miseel- laneous industrials and most of the motors were weak, but .ggou im- proved. Operating utilities Pidest gains, but some of the nuldm and finance companies, whose securities “ | were selling below the market price of the collateral in back of them, also forged ahead. Ticker Falls Behind. Going into the second hour the ticker was 30 minutes behind and the follow- ing prices were flashed from the floor: Associated Gas_and Electric, 35 2Asmel'ican Cities Power and H ht A, % Américan Superpower, 18; American Investors B, 9; Blue R{dge, 6% ; Blue Ridge preferred, 24%; Central ‘States Electric, 181¢; Citles Service, 25%;. Earl Radio, 1%; Electric Bond & Share, 58%; Electric Shareholders, 13; Fourth National Investors, 28%: Gold- man Saghs, 362; General Theaters, 25%; Lehman, 70 Middle West Util- ities, 219%; Middle West Utilities, nev, 21%; Standard Oil of Indiana, 497.: Niagara Hudson Power, 1212; Pennrca Corporation, 16%; Utilitles Power : Lg?t, 15%; United Light & Power / FARMING TOOL EXPORTS DECLINE IN MONT: United States experts of agricultur: implements in September amounted the P ] $9,250,795, a decrease of $4,000,000 fror: August, bl:t an lncrnx of $400,000 o:’»l September a year ago, according to Department of cammu'ee Exports fo the nine months ended Sef ey totaled $109,723,509, a gain about szg.aoon,ooo over the pine months of 614 Cent Atlantie lll'u. 20 Cent P8y A (a1.15), 12 Cen States El (3 5 Centrifug Pipe ( 6 Chain Stores D giate, 17503.00; Mmhn;“clr;:f 4500 Expected to Stimulate beans, hamper, 1.50a2.00; oni 100 LTS D Lk, 18 U. S. Trade. 50; peas, bushel, 500-5 sn pumpkins, 2 24 4 66 20 3 B 3 1 8 84 Ed 10 1 Meaning of Reduction. 32;‘”,?".‘,';, 13 Chain Stores St 40 Long I 0% 40% | 100, 3.00a10.00; sptmch 36-05 squash, In vie e e onow'm of prine 23% Charis Corp (12% 104 Loi 308 1 5 crate, 3.2 tomatoes, hamper, 40a BY J. C. ROYLE. ‘W of these facts individuals | | ng-term in- et i AR MU AL S | ammouncment tht suetary Mol e g et e | e 4.25; grapes, basket, 15a19; trut, | Wl recommend tax reduction normal tax on individuals will be |l ~Seld in_ Lots—$100,00 Up 3.00a: 1 h‘:‘ne ydews, a-'-r l,*x 258 m«‘ald -eulo‘: K; ' - u;- is, on the first : Call "C':E. oranges, . hox, 2.50a4.25; pears, | counted on to exert a fsvarable I.n- tandard teral flue: 3 ?\;zhzl 2.0024.50; qmnc- bushel, 758 nce on business. But it would have Shares Cnrponhonm S = FeRenald ane 18 CityMch&T tu.). n 10 Clev Tracter, . .. roved a f| n 4 Colgate Palm ¥ (3)14 e ar more potent factor had it Y 2200 Tondon, for exatple, i being Avery important ads advance in aviation. W. H. Lj , direstor ville Institute of Technology, believes the educational system is not keeping up to date; that it does not give the m men and young women, unable to eolla: the technical training e competitive business b bellm education should give the individual information and knowledge ani the mthmnl:{ which he may ac- lormation cnlkm"‘lr- interpretations ly, and if it dou nnt de- ve eharacter and build an ip, then b Louisville e mnay—rsm Lipj Mlubn in Louisville huud up thii type of work. Presidents , contractors. busl- ness and pmumnnu men in every walk of life in the South have passed through this school—15,000 of them. Today the scheol, in one of the South's great cities, has 1, lii') students lbnd l“(’:llnl‘ nw{:y of t co-operates w! and su| 2] ets the work of the high ey People now are beclnnl.n to see— hlly lmerl in educational in- fi‘o person should hll ltufl lfler he leaves nulnv of bullnefl just as the h'ellue ,is that of growth and that Gas 14% comouan Alreraft., 4 Consolidated Copper 71 Con Gas Balt (3),... 12 Con Dairy Prod (13), 2% Cons In mmen. . ries. ... 4% 2% Cusl Mey Mining. 6% Darby Pet {1).. Davenport Hos (3. Eng 4% DH A Ltd ret n(60e), 9 Dix Gas & Utilities. . 16 Doehler Die Casting. # Dolores Esperanza. .. E B mnaton - - Sa - R - PONL. s Bhane TR - » rRoncuRanemdru3Tuoe @ 4 Wes! Middle West Ut (7 Mid Rovalty ev pf 3. Min Corp of C (35e). Mo-Kan P L (:5%). Moh H P 1t ot (1) Nachman Spring (3) Nat Amer €0 (2) 4, New Fing Fuel n New Fng Pow nf (6) l‘IOA N H Cloek +187% . New Jer Zine (13). New Mex & Arfz Ld. Newmont Min ($4).. N Y Auction (1%). Semanaarna P T AR N e BN EaS NN Naa a0 Ba e BN na S - Live Stock Market. Cattle—Receipts, 50 head; ll[hb sup- ply; market steady. Steers, choice to prlme, none; gocd to choice, none; medium to good, 11.00 to 12.25; fair to medluu 10.00 to 11.00; plain to fair, 9.00 to 10.00; cammon to plain, 8.00 to 9.00. lulh choice to prime, none; to choice, none; medium to good, .50 to 8.50; fair to medium, 7.00 to 17.50; plain to fair, 6.00 to 7.00; common to plaip, 5.0 w0 6.00. Cows, choice to prime, none; good to choice, 7.50 to | bee 8.00; medium to good, 6.50 to 7.50; fair to medium, 5.50 to 6.50; plain to fair, 4.55 to 8.50; common to plain, 3.75 to 4.50. Heifers, choice to prime, none; good to choice, none; medium to good, 9.00 to 10.00; fair to medium, 8.00 to 9.00; plain to fair, 7.00 to 8.00; com- mon to plain, 6.00 to 7.00. mgro;sl; cows and springers, 60.00 to Sheep and lambs—Receipts, 75 head; light supply; market lle- she 200 to 6.00; {ambs, 6.50 to 13 Hogs—] ceipts, 700 head: fair sup- ply; her; lights, 1000 10.20; huvles‘ 1"0.00 to 1‘"&' - 10.00" to 10.25; Teughe, 126 b 9:10; llght pigs; us 9.50; pigs, 9.70 to cnven——Reoelpu 50 head; light sup- ply‘ market steady; calves, 7.00 to Dairy Market. 1 Poultry, alive—Turkeys, pound, 30a 36; Sprin| J chickens, 23a27; Leghorns, 22a24; old hens, 23a28; Leghorns, 18a 20; poor and thin, 17a19; old roosters, 18420; ducks, 18a32; guinea fowls, each, 40a75; pigeons, DI‘ 25. Eggs—Receipts, 1,924 cases; native and nnrbz ts, 50a52; current re- ceipts, 43a45; hennery whites, 58. Butter- and_fancy creamery, - pound, 32a48; ladles, 35a36; store pack- ed, 24; rolls, 31a32; process, 40a¢1. come at some other time than during Seiance The taxpayers in ||| Woedward Building. the psychologieal depression of a drop In security prices. The Secret of the Treasury has declared that v'. the final tnln-h ot revenues ai ditures for the years 1930 and l”l luv:' not . completed, hl feels have reached uction can to take the stand, ever, thn their taxes had Auwmlucllly n reduced for them through the tremendous decline in security values and losses of profits thereon. Financial experts are much at variance as to the extent to which profits have been re- duced through the Wall Street exnlle- ment. Mr. Mellon asserts that busi: ness profits, dividen interest an wage payments all will exceed those of 1928. This seems unquestionable on the face of it. Yet financial men feel that it is by no meaps certain how much udueed individ l corporate last G of year vlfll be m unully h.l:‘l: incemes of the nm m menths. Increased Investment. Americans have made more invest- ments as well as en; Inmmrc ulations during 1929 than ever before. profits of in- bonds w does not to)kw?‘gn in Jm have lai sums at their disposal now. Rven 1 y own their seeurities wt- right they could not realize on them withoyt a loss. The investment trusts 'hloh h;ve of linters, compared wlfih 545,649 in Sep- & Co.: ony hw $1,992,000,000; balances, y tances feel that reductions from losses have already e out their taxes far tions, which face g i T TR (Copyright, lnD) November 14 (#). —C t- ton opened steady at an advance oro 7 points to a decline of 1 point today, mm monthe being high . I.n] l‘l;ll(li eo‘:‘ngl"l?g b?g:m of Liver- yesterday's late ad- v-nu lge ‘market may h;(\’re brought in a mue selling of the later | mnn . but offerings were compara- 1{ ht, and the advance extended w 17.27 for January and 17.83 for May, or about 13 to 15 points net. higher | ducl‘g:,zflgl‘e 'flr:t few :tiflnule.m 85 evidently stimulated the nrme ing ing of the siock i mestic eansumps h‘:n fl‘uz for Debber than e; te':’j. %ln":.n. Vuumglre‘-lmew or liquida- were 5 nolnwofl from the best by the M_‘[M ur. b o €ensus e showed dome consumption of 640,798 bales, exclue:it\fs tember and 616,238 in October, 1928, - — CIem'ng House Statement, NEW YORK, November 14.—New York clearing house s ported by Dow Jonas tlument as re- BONDS ON THE CURB SECURITIES MARKET NEW YORK PRODUCE EXCHANGE (Incorporated 1862) MIZM.BERSHIP wfi"" ied Members of this SRk Sres "°'.'.:F="'-’ . hogses. In additig i fewie el nm mdml in it o5 New York's two tutor Securities . z%. New - in Fow and numhr Sales in . N mm- in_securities ut thousands. Receives Locomotive Order. companies. Thelr holdings g NEW YORK, November 14 (#).—The Baldwin Locomotive Works has received p- b ives from e =) N Ning Hud Pw B war, « Niagara Sh ¢ -40). 9 Raliways Niles Rement Pond. , i Nipissing (30¢) . .... Noma FI Cor (1 60). Nornnda Mines. ... North W ev of (3) .. North Am Aviation, North Am U111 See thu on their ‘L)fll‘;fl%&fl?‘ufl m to sueceed.” (Qopyright, 1929, by North American News- i b 30 iver Alftances - S-S it 20 lagara Hud P 7 " ':'ill’ Hud Pw A | CHICAGO LIVE STOCK MARKET i 'mo.}go, Lessnidd ‘l:nmnf«‘-J n%"d nt o re) — Reo:i‘pu, 35,000 head, including Kl Pow Associate direct; market opened 10 higher, 14 FEl Pow Associates A later trade, steady to weak; top, 9.60; 10% EI P& L opt --r.:'.. early bulk, 190-300 pounds, 9.30a9.50; ElI P & L 2d pf A (7). 150-180 pounds, 8.90a9. 25; butchers, 3% E) Sharehold Igl). . medium to choice, 250-300 pounds , 9.00 old b ’( “. 29.60; 200-250 undl. 9.0029.60; ' 160~ Hmp G F eum P 1“)- o gty T AR . S » Em.p Pub S.A(180) Employ Reinsur 1 ggr:?m gfl’ yges " 35308 N. Y. Bank Stocks Special Dispatch to The Star. a big railroad which NEW YORK, November 14.—Yester- fl’ ‘noou of nuur Narth & Paw A ( day’s closing guotations on leading New | roads or of in concerns North St Paw pf (7). 2 York bank stocks follow: N W Engineer (2).. 1 Bid. Asked, B2 e RS e . s ® u |~JAUOReC o 1O £ 52 A z! s S5 aama arsnsnlS: Fr w0 Novadel Axe 2). America 138 Novad Agens f(‘l). Bank Unlud P Ohio Copper. Bank %% Yorkiown ex o Yesterday’s New York Stock and ghahei & g By the Assoclated Press. Umkrwrflflx-Dl;mm INVESTMENT SECURITIES receipts, 2,000 ‘largely & clean-up market on steers and yearlings, about steady; a little more life in general jos Finishing. .. , but market in mo dltlon for renfld tHON, o r than light receipts; strictly choice td, weighty steers. 13.60; yearlings, 15.25. laughter classes, steers, ice.” 1.300-1,500 pounds 11.75: 1 pounds, (] 1,60 pounds, 12. 'S0a15.50; common and ium, 850 pounds up, 8.50a12.75; fed !ood and 1508950 00: 7.75a13.00; cows, 7.50810.25; common an xa% :i‘n-ntz:: .l;:“(:.ll. X Y 1% Fires 9 "-F‘ e °“”.‘§§ b g O ¥ 100 flman Pu.l of (1) Peppere ;5 cubter | w ‘medium, 6. 5089.35; ve Aat : 29! Perryman Ko (milk fed), good and choice, 12.008 4 3 e l’olnohumm r]u‘ 1§.00; mdlum‘ 11.00a12.00; cull and Philip Morris Ia” . 00a11.00; stocker and feeder | 18% 3 Mlol of France. Philippe(L)B(1.60). .aod and choice, all weights,| 21% 10% Ford Motor Ltd..... Plck(A)B&Co pf 1% . and medium, ’.lh 2 10 0 20 PleBakofAm A(2). S T T 10w Piores Govara (1341, = 3o Qutbeard Motor (B), % Pag G&EI 1at pf 1% Western O11. ndem O11. Pantepec Ol Parem G Mfs (2.40). Parmelee Tran (13) Ponn Gas&El A 1%, Penn Mex Fuel (2)., GG Sommierciat Continental hang Fitth it TanulBode aed L R SRR R Wasnineron Orrics 737 15th Street N. W. Telephone, National 1093 2 88.IBEETaSe Zendnconasuias ) = B = Main Orrics - Battimons . 5 PN -1 u