Evening Star Newspaper, November 19, 1929, Page 15

FINANCIAL. PUBLIC BUILDING WILL AID INDUSTRY Hoover Conferences Expect- ed to Revive “Prosperity Reserve” of Nation. BY JOHN F. SINCLAIR. Epecial Dispatch to The Sta NEW YORK, November 19.—Leading industrialists, bankers, “agriculturists of the United States move onto Washing- ton this week to attend the important ‘White House conferences on business. Bince President Hoover's inauguration a great deal of additional material deal- ing with the “prosperity reserve” has been compiled. How far can the Government go in helping to stabilize business activity? Just what can a government, moving in close co-operation with business leaders, do in the matter? The President has already given a hint. He says “the postponement of construction during the past month, in- cluding not only bullding railways, mer- chant marine and public utilities, but also Federal, State and municipal works provides a substantial reserve for prompt expanded action.” « He will confer at the White House with important ‘railroad executives, banking and industrial leaders and farm leaders. The problem is not as simple as it appears. Many cities are overbuilt. An 5% 5391, 108% 41 47T 22% 23 158% 607 31% 52 72 6914 224 109% 29 A 399 8% increased program in those places would hurt rather than help. But other activities are challenging! In the field of good roads, 16 States of the union curtailed their road pro- grams and spent less in 1929 than last year, according to the American Motor- ists’ Association. In this field, the con- struction of permanent roads is not in- cr!l.smg as rapidly as the number of automobiles. Nearly 2,500,000 miles of unimproved roads will exist in the United States, and nearly 5,000,000 out of the 6,200,000 farms are on these dirt roads, g to Sam_Thompson, president of the American Farm Bureau Federa- tion. In the development of a national g:‘;rmlnent road system the job is far m completed. This is but one field. Prosperity has never been a permanent conditi It'’s a fleeting thing. Can it be made more permanent? can. Hence these conferences. One writer puts it this wa “Pros- perity is the product of ideas. It is made by men who think. It can maintaized only by creative thought.” A gigantic railroad battle, involving three great railroad systems and a smaller one, is looming up in the West. the Great Northern Commerce Commission to build 88 miles of line from Klamath Falls, Calif, to Bleber, Calif. At the same time, the Western | Pacific asked the commission for permission to build 112 miles north from Keddie, Calif., to meet the Great Northern extension. The total cost for both extensions is approximately $13.000,000. The Southern Pacific and the Union Pacific protested loud and long. It would seriously affect both of them, ur Cui large stockholder in both the Gr Northern and the Western Pacific, is behind the move. The Great Northern has had its eye on California for many ove, u\l allowed, will Great Northern passenger train, through service from Chicago by of the Twin Cities and the Northwest, direct t6 San Francisco. And the Twin Citles will become another gateway to California. Travel figures show that last year California travel by way of the North- ‘west increased over 20 cent. ‘The commission will criticized no matter what decision it makes, for the Southern Pacific has always had a prac- tical monopoly in rail shipments from California to the Northwest. Many more titanic moves on the Western railroad checkerboard are de- veloping. for the stakes are immense. Charles 8. Mott, vice president of the General Motors Corporation, must be a most unusual man. He it was who ad- vanced personally the $3,592,000 which certain officers of the Unm Industrial Bank of Flint, Mich., 'n from the bank and lost in the stock market smash. It now develops that when Mr. Mott first heard about the bank shortage, it was estimated to be about $800,000. A Detroit banker suggested that each director be forced to contribute his stock and his share quota to save the bank, but Mr. Mott objected, saying that they were not in a position to do it. o Mr. Mott himself put up a miilion dollars ©of his own securities to protect the bank. A further checking revealed that the sho instead of $800,000 had reached 82,038 A heart-breaker for even a B ew dar later, rtage lew days later, the total shos was found to be $3592,000. So Mr. Mott, without a moment's hesitation, edded enough cash to make up the entire sum, Doubtless some of this will be saved in the proceedings now being carried on, but ‘the net loss will be large. When asked why he took it upon !}lmult. Mr. Mott said he could not see ‘Flint’s baby bank get into difficulties :;}fl d:e.mm losses to come to my iends.” (Copyright, 1929, by North A - NEW YORK COTTON. NEW YORK, November 19 (#).—Cot- ton opened steady today at an advance of 1 to 5-points on steadier late cables from Liverpool and a private report that estimated ginnings prior to No- Vember 14 at 11,992,000 bales, pointing to a crop/of about 14,500,000 to 14,600, 000 running bales. The advance met some realizing and perhaps some selling on the rather disappointing opening of the stock market, but offerings were light and the market held steady. Active months showed net advances of about 2 to 4 points at the end of the first hali-hour. Liverpool cables re- ported tiat Bombay selling and local liquidatich had been taken by cover- ing in that market and reported scat- tered cloth sales to India, but said the low rate of exchange was business with China. CHICAGO DAIRY MARKET. CHICAGO, November 19 (#).—Butter firmer; receipts, 10,004 tubs: creamery extras., 40l,: standards, 38 extra firsts, 39a40; firsts, 36)2a37';; seconds, 2. Eggs steady; receipts, 3,077 prices unchanged. cases, Yesterday’s New York Stock and Bond Averages. Prom the §:30 Edition. By the Assoclated Press. ). Revised rures The President thinks it |" 2 100 % A;:% 210% Comwth Edison (8). @M 185% 42 45% 100% 59 20 324% 20 12% 55% TT% 31 324 189 108% 17 3 12 Ainsworth Mfy Afr Investorsvte Air Inv, Inc cv pr. 5% Allegheny Gas Corp. 3% 10% 23 n % 146 103 20 31 5% 10 18 W 9% 71 98 34 15 25% 6% 3 190 1% 5% 51 104 15 85 8 11 13% 6% 5% 35% 3% Al 3 25 % 1 SAtlantic Lobo: 16% 20% 12 1% 10 3% 234 18% 1% 10 14 26 26% 22 3% % 4 3 1% 8% Y% 6% 20 12 a% 6 1% » 974 20 84 8 /it Serv pf B (§0¢). . 4 264 2 ¥ 93% 10% Y% 13% 4 7 20% 12% 2% 10 10 11 32% 30 5% 55 5% 17% 2% 2% 9 154% 14% 17 50 35 4 120 3% 1% 21% 4% 7 10 49% 100 4 Kl Sharehold (31) B 3% 3 5 62 10 20 50 3 10% 10 15 3% 20 10 8% Gen Am Invest ' Gen R & Utll of (6). 95 22 Allied Aviation. Allled Mills, Inc Allied Pow & Lt AllP&L1stpf5... Allison Drug 8§t B. .. Aluminum Co of Am. Alu Coof Am pf(§). Alumin Goods (1.20) Am Arch Co (3) Am Brit & Cont. Am C P&L B (b10% ) Am Com P A (330c). Am Com P B (330¢). AmControlOf1F Am Cyanam B (1.60) Am Gas&Elec (31).. Am Gas&Elee pf (§). Am Dept Stores. ... AmDIstT,NJ ev pt 7. Am Equitie Am For Power Am Invest Inc B..., Am Investors (war). Am Lt & Trae (10)... Am Maracaibo. ..... Am Natural Ga: . Am Salamand (3%). Am Solvents Che ® 3 17 15 17 HARORA D AR A AND DO AN AR L IO AN HE UL RS AN R s aa R e Am Super 1st pf (6). Anchor Post F (12).. Anglo-A n v cod 35e.. Anglo-Am v cod 35 Arkansas Nat Gas A. Ark N G em pt (80¢) Asso-Dyeing & Pix Asso-Elec Ind Ltd As80 GEE A (32.40 0 GEE A deb rt Asso Rayon. ... Atl Coast Fi: Atlantic Lobos. . Aut V M ev prpt (2 Aviation Corp of Am Aviation Credit, Bahia Corp.... Bliss Co (B W) (1) Blue Ridge Corp. Blue R Corp cv pf Brazil Tr & Lt (2) Bridgeport Machi; Brill Corp A (1% Brillo Mfg (1.20) Brit Am Tob B t1. Brit Am To regt1.20. Buf N&E P pof (1.60) Bunk H & Sull (19).. Burma rcts (31%¢) Bwa Kubwa Cable R T vto. . Cab&WireLtdA Cab&WireLtdB rcts. Cab& WireLtdpf rets C A MCoctfs Can Marconi Carib Syndi o Celan Cor 1st Celluloid Corp. Cent Atlantic S nt PSv A (al.7 n States El ($40c) . Centrifug Pipe (60c) Chain Stores Dev. . . Chain Stors Stk (b6) . Chi & NW bond rts.. 127 Childs Copf (7)..... 5.1 Cities Service (130¢) 315 Citles Servpf (6).... & o ColonOil........ Colts Pat Fire A (2) Comwith & Sou war, 5 1 2 1 4 15 4 48 ‘Comwith Pow pf (6) Comwl Ut B (350¢).. Comstock Tunnel. ... Consolidat Afreraft.. Consolidated Copper Con Gas Balt (3).... Con Gas Ut A (2.20). Con Dairy Pred (32). Cons Instru t. Cons Laundries Continental O] Con Retail Strs (1) Cooper Bessemer(2). ‘Cooper Bess pfA(2). Copeland Prod Inc A Cosden O pf Creole Petroleum Crockér Wheeler(n). Curtiss Wright war, Cusi Mex Nining.... Darby Pet (1) Deere & Co (6). Forest Radio. ... DH A Ltd ret n(50e). Derby Ofl & Refin... Detroit Alreraft Cor. Dix Gas & Utilities.. 1 Dizon (J) Cru (t12). 10s Doehler Die Casting. 7 30 09 1 00 80 et O NS 1O 09 - = 5 o000 Driver Harris(new). Dubelfer Cond&Ra Duke Powder Durant Motor: Earl Radio East Gas & East States Power B Eastern Util InvA.. Eisler Elec Corp. El Bond & Sh (b6) K1 Bond & Sh pf (6). El Pow Associates. . 21 Pow Associates A Kl P & L opt war. 1 370 81 12 £l Sharehold pf (6) Emp G F cum pf(7). Empire Pow pt (2).. Em.p Pub S.A(1.80). ingineers Gold. ... Eng P S opt war Evans Wallow Lead. Fabrics Finishing. .. Fairchild Aviation. .. Fairey Aviatn Ltd. Fajardo Sugar. Fajcon Lead. LTy » - Romn Féderated Me Fer Enam A (16%).. - 000000 ) * Firestone T&R new. ¢ Florida P&Lt pf (1). Fokker Aaireraft. .. Foltis Fischer Corp. Ford Motor Can A Ford Motor Can B Ford Mot of Fran Ford Motor Lid. . Foremost Datry Pr #ormost D P pf 1.6 Foundation For Fourth Nat Inv Fox Theat C1 A BBme DanarInS menmonma G D e EEETPIIS-Pt en Theat Equin vie ¢ Ga Power pf. (6) Gerrard 1S A) Co 6% 12% 63 01 23 21% - 191% 15% 7 % 35 19 % 4% 3! 11s 220 235 2! 981 981 43 S 1 614 8% 24% 184 7 12% L 2% 25 22% 12 17% 3% 101% 26% 23% 19'% 15% 70 82% 357 19% e 16 <16 5% 4% 6% 4% 5 THE EVENING STAR, WASHINGTON, D. C, "COMPLETE TRANSACTIONS ON THE NEW YORK CURB MARKET Stock and Dividend Rate. U S Radiator (2)« 86% 8 19 55 4% b2 6% 25 3% 97% 12% (155% 185% 1B5% 1 21 19 % 8y 136% 5% 21 24% 20% 10% 16% 63 101 22 20% 19% 11 70 82% 35 17 1 16 5% « 854 4% 6% 6% 5 4% 20 235 9% 43 L 168% 63 34 6% 2% 25 22% 12 17% 8% 101% 26% 23% 19% 15% 70 827% 35% 16 6% Gt LakesSteel pt pf. Ground Gripriti%). Ground Grip pf (3).. Guardn Fire Assn(2) 4 Guardian Inves 24% Guenther Law. 115 Guif Ollof Pa ¢ 1% Happiness Candy 27" Haygart Corp 14% Haszeltine Carp 10 Hecla Mining (1) 3% Helena Rubenste: 8 6 Houston Gulf Gas. 6 Hudson Bay M & 74% Humble O11 (¥2).... 27 Hydro El Serv (12).. 10 Hysrade Food Prod. 340% 260 Il'inols P L (20) 6% Imp Chem (Ind, 22 impOll Can n t50e). 9 Imp Tob Can (30¢c).. 6's ImpTob GB&I1(1.25), 5 Indian Terr Illum... 18 26 52 17 Insurance Sec (1.40) 12 insuranshar of Del., 20 Intercoast Trad Co.. 5 Intercontinent Petn 3% Int. Hold. & Inv. Co... 6% Intern Perfume (1). 15 Int Petroleum 37%e. 26% Int Superpower (31) 3 Internatl UtB...... 12% Interstate Equities. . 40% Interst. Eq. cv-pf.(3) 14% IrvAirC (2) (1.80).. 6% Itallan Superpow A. 5 Itallan Superp war.. 1% Kirby Petroleum.... 1% Kolster-Br (Am Sh). 8% Lakey F&M (12.40). 19 9 London T Syn rets 2. 67 28 LoneStGas (80c). 113 103 Long Isld Lt pf(7).. 147% 3w Loulsiana Lan & Ex. 1% % Magdalena Syndicat. 37% 7 Marconi Int M 52%c Mar Midland Corp 1% Mason Vall 1% 18 Mid West Util(new), 158% Middle West Ut (7). 15 Mid Royalty cvpf3. 8 Milgrim & Bros. ... 8 Mo-KanP L (b6%). 1% Montecatini deb rts.. 50 Moore Drop Frg A... 48% 38% Morrison Elec (1)... 1% % Moun & Gulf (.08)... 22% 7 Mount Prod (1.60).. 76% 25 Nachman Spring (3) 8 Nat Amer Co (2) c 43% 24 Nat Fuel Gas (1).... 10% Nat Investors (new) 15 Nat Mfrs & Stores. .. 20 NatPubSvA (160). 35% 6 NatScreen Serv 1.60 25% 10% Nat Transit (113) 42% 7 Nat Union Radio 29 12 NeetlInccv A(1.60). 21% 17% Neptune Meter (2) u ) 89 Newmont Min (34) 24% 7% N Y Auction (1%)... 18 © 10% N Y & Hon Ros t23. 56% 23% N Y Invest (1,20).. 19% 214 N Y Invest (war)... 24% 11% N Y Pet Royalty (1). 114% 111 N Y Tel pf (6%). 30% 12 .Niagara Hud P(40c). iag Hud Pw A war. % Hud Pw B war, Shars b1-40, 236 Novadel Agene (2) Novad Agene pf (7. 14 Ohfo Coppe! 6414 Ohio Ol (13%. 814 Ollstocks Ltd A t60¢ *10% Outbd Mot A (1.80) 4 Outboard Motor (B. 12% Pac WesternOil. 2% Pantepec Oil. , 6 Parsm C Mfg (3.40). 12% Parmeles Tran (1%) 20 Penn Mex Fusl (1).. 87% Penn Ohio Ed pf (6). 95% 88 4% 9% 19% 22%, 16 Horn & Hard pt (7). 150, 3N {ET TSIV PR P TR - STV - D - wua-Snualuuan vans~alSalouSrsssSacaannn can 325 98 Penn O Ed pr pf(7)..110s 4 Peo L& P A (83.40). 12% Polymet Mfx (31)... 15 Power Securities. ... 6% Prince & Whitely 29 Prince&Whitely of § 11 Prop Silk H M (2). 5% Prudential Inv...... 98 PugSP&Ltpf (8). 20 QRS de Vry (30¢) 10% Radio Produets, 4% Rainbow Lum ProdA 5% Rainbow Lum ProdB 1% Relter-Foster (10¢). 12 Reliance Manage .65 Repetti Candy . 4 Reynolds Bros in 18% Reynolds Met (new) 10 Rich R cum of (3%) Rockland L & P. 2 10 Ross\Stores, Ine. Root Refining. . 55 Royal Typewr 13.76. 45 Ruberold Co (4). lgu St Regis Paper. ... 50% Sel Ind allot efs 6% .. 49%% Select Ind pr (5%5).. 48 Sheaffer Pen (13)... 5% Sherwin-Willms(14) 6% Shndoah Corp(b8% ) 4 Schutter J Candy & . 14% Shenan Corp pf (3).. 26 Sierra Pac Flec (2) 15 Silica Gel ct. 460 Singer Mfg (122%). 1 Singer Mf Ltd (30¢). 2 Snia-Viscosa.. 1% Sonora Produc 50 SEP&L (b4) 80 SEP&Loprpf(4) 35% South Penn O11 (2).. 20 SoCalEdptB(2%). 26 SoCal EADIC (1%). 5% Southern Corp. 13 So Pipe Line (1 11% Southland Roy (1 45 18 467 29 StOflof Ky «160 124% 11315 St Oil of Ohfo pt (7) Stand Ofl of Ind 3% Stand,0il. Kan 121, 10 20 4 P T = S rperonlasmpmane~e e " - CTT TNt 5ls 14 5 26 1 4 228 v S B 10 RS b e i td quality turkeys from the sgq(. reach here the last of this or the first | % | and 50 cents. % | ers’' line continuing with attractive dis- 2% 667 _6674 %% 40% TUESDAY, N Stock and A Dividend Rate. 25% Swift Intl (2) 10% Syrac Wash M 20 40% 4 Taggart Corp....... Tampa Electrie (32). Teck Hughes (§0c) Thermold Co (2). Third Nat Inv (1) Thomp Prod A (12). Todd Shipyard (4). . Transamer n (31.60). Trans Air Trans cfs. Tr-Lux D.L.P. S.(A) Tri-Cont Alited. ... Tri-Continental Cor. Tri-Cont Corp pf (8) Tub Art Sflk B (10). 19 25% 18 % Union Tobaeco.... United Ch pt pf (3) Utd Lt & Po pf (6) UnitedMilk Prod. Unit Prof Sh (1. Unit Reproducers B United Stores. . U S Dairy (A) (5)... U S Fininshing ($2).° USFoll B (1). TREND OF TURKEY PRICES UNCERTAIN Heavy Consignment of Birgds Received at Market From Maryland Growers. A decidedly unsettled condition of the turkey market was reported this morn- ing, and dealers continue without defl- nite information as to probable retail prices which will prevail n week. It is agreed by all dealers’that prices will be cheaper than during any holiday'| season the past several years, reports from all sections continuing to tell of immense quantities of the birds on their way to the citles. Because of the unsettled condition of the market and uncertainty about ices, it is stated, most of the stock in ransit is being shipped on consign- ment. In some quarters this morning prediction was made that prices will drop to 4 Ocents in the retail market while others continue to predict a 45 to 50 cent market. * Turkey Recelpts. It was stated this of the heaviest of the local ers had re! a cargo of fancy dressed stock at 35 cents, while some other dealers announced having paid such a price. A fairly heavy consignment of top Eastern Shore of Maryland reached the local market this morning. They av about 20 pounds, it was stated, and promise to prove show stock when dressed. Most of the turkeys thus far received, according to reports, have been of much better quality than usual, No. 2 stock and culls being scarce. Such turkeys are not wanted by dealers; but when they reach here, they are necessarily accepted and sold at prices below the run of market prices. Western turkeys are scheduled to ind are rol | the rallroads in the direction of the big-consuming centers in the East. Live | turkeys this morning were quoted from 35 to 37 cents, while stock was quoted from 39 to 45 cents. Plentiful supplies of chickens also were received this morning, and fairly e numbers of ducks and keats came with them. Should turkey prices drop to a low level the coming week, as an- ticipated, prices of other poultry, ac- cording to dealers, also will . Small quantities of capons were received this morning. They averaged from 6 to 3 pounds and were offered, dressed, at 45 Cooler weather this morning was ap- preciated by both wholesalers and re- tailers, and buying was a trifle heavier. ‘There were plentiful supplies of ail commodities this morning, commission merchants and dealers on the farm- plays of fruits and vegetables. Butter, egg and meat prices continued without change. The egg market con- tinued firm, with receipts of hennery stock not so heavy. Dealers had pl Westefn eggs to offset light receipts from nearby. Prices of most commodi- ties this morning were substantially the same as prices quoted yesterday. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher, Butter -— One-pounid prints, 42}%a 4315; tub, 41a42)>: store packed, 30. el Hennery, 58a60; fresh selected, current receipts, 50a52. Poultry, alive—Turkeys, yourg, 35a37; old_toms, 35; Spring chi , large, 27a28; medium, 26a27; broilers, 30; horns, 23a24; fowls, 26a27; roosters, ducks, 15a20; keats, young, 40a65; Dressed—Turkeys, young, 438 9240 lsnfln(:m chickens, large, Toosters, 24a25; ducks, 29a30; keats, 70 a80; capons, 45a50. Meats—Beef, 20a22; veal, 24a28; lamb, 26a27; pork loins, -22a25; fresh hams, 20a22; fresh shoulders, 20a23; smoked hams, 25a26; smoked shoulders, 18a20; bacon, 28; lard, in bulk, 13; in packages, 14. Live stock—Calves, 141;al5; lambs, 12%a13, Fruit Vegetable Review. Dally market report on fruits and vegetables (compiled by the Market News Service, Bureau of Agricultural Economics) says: Apples—Supplies moderate; demand light, ma.ket steady; boxes, Washing- ton, medium to Mrge sizes, extra fancy Delicious, 3.75; fancy, 3.50; extra fancy :‘n.;mm. 3.25; fancy, 2.50a3.00; bushel inches ; U. 8. up, slightly russeted, 75. Cabbage—Supplies moderate; demand light, market steady; New York, 100- nd sacks, Danish type, 1.50a1.60; th Carolina, barrel crates, approxi- ;n:o':x:y“m pounds net, Pointed type, Y. Bank Stocks By the Assoclated Press. NEW YORK, November 18.—Closiny bid and asked prices on the stocks o several leading New York national bank trust companies yesterday follow: NATIONAL BANKS. rrim . hattan Company. National City...... 3o in NeoosaBIzH 5 S -~ Sas e £ i 2 5 P 9% wa— - ». N aBunaomeall oN¥ImO0 i VEMBER 19, 1929. 1% % Asso payment. cash or stock. b BONDS ON THE CURB MARKET. DOMESTIC BONDS. High. ow, Oloss. 0114 10 G101 91" 97 97 243, 94 10142 1011, 993, 99% 238842 23 :aassaifizs &R 2353282893385 S 333 B3 S SE 75 Egs:gsssmas s328332858ess3ss, FIE E ST & 828! FEEE 335238323328533! & CHICAGO STOCY MARKET. Special Dispatch to The r. CHICAGO, Novembér 19.—Following is a report A and closing quotations{ on the Exchange: 1 Abbote Leh Stock BEamsaudown o T e 2 Con i 3 Cleaner 3 Goldblatt 26 Gt Beatrice Cr Bendix Aviation M low ‘hicago 1% of today’sisales, 3&3.&5#‘&&- *FF e B I % % Trans Corp.. Dividend rates in dollars- based on last quarterly or semi- dunuscyugs 2 BEERENEBINEEERES .. = Sovs FEE Fa FEOFIE S LI M TR mmonwealth Ed nsiruc Mat Corp F [ IR A =S wiw S_: e aZula ar 4 Com Harv.y 2 Lakes Airci 2 Great L Drdg 3 gn;nby drunow K] 1 13 Ho 1 Hu, 22! 22, i o gy sacn 92“ i Nat lat Ter; at Un ob) R FoR ER 332 5 T G A Houd-Hershey ud-Hershey ssn % | 000, which was a Sec Inv Btandard.. 2t adic w Bnk Corp no B thwest Engin'ring hwest Engin'ring 8 wansua susso s S TR £l FINANCIAL . Open, High. 40% 42 Low. 401 6 Utah Apex (50c) Utll Power&Lt($1) Utility Equities. Vacuum Ol (14%) Vam Camp Packing Veeder Root (3%). Wes Auto Sup A (3). White Sew M de rts. Willlams R C (1.49) Winter (Benj). Woodley Petrol, Zonite Prod (1. RIGHTS. & Eel...Dec. 1§ 19% b L Expire. % oooJan, 4 % Y% Ex-dividend. fPartly extra. iPlus extra in stock. & Payable in Payable in stock. d ble in preferred stock. 1. STOCK PROFIT “AID TO FOREIGNERS = Money Made in Wall Street Is Used to Expand Industries. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, November 19.—Foreign competitors are fully prepared to take advantage of American errors in the struggle for world markets. Great Britain today is believed by many keen financial judges, some of them Govern- ment officials, to have refinanced ex- nsion of her foreign commerce and me manufacture through funds gained by prompt seizure of opportu- nities offered by stock market and credit conditions in the United States. After holding off for months in 1927 and 1928, English investors sailed boldly into the American stock market, buying extensively and pouring funds into the call money market like water. Many of them are believed to have sold at or near the top of the upward movemert. Then the British financiers proceeded lt: vlthdn: :.hedl:' funds from the call oney market. consequence, British trade and industry has at its disposal foday huge sums released from cajl, 150 Sncceestal’ opemsion® eeing 8 N to Federal officials. o Movements of Sterling. ‘ ‘The situation is plainly shown by the movement of sterling exchange, which has advanced from $4.75 on Sep- tember 25 to about $4.8781, and this at :n um: when puzlrecordl show a tend- cy for a normal d of the pound. Thwnflm i money rates naturall - . ly would cause the inc| . would mvolg. nun:‘ hp,:rue::; of Government cing was felt by ihe United States in -its last issue of S money raf , ¢ a gins, and despite the big Tt ot peer gmhhm:nde is bright, lndw m :'x‘.porm :n eme:rly likely to feel the Mded‘ trength of competition from exporters these and are tal wmmlg'nm t;:.:: "!‘hhm M:l m«;no'&! the subjects which un- come Hoover's” conferences :’ s 80 severe that exporters chances should be taken and no’:!dnn- Ppresented to opponents. from the amounted to $530,000,000 in month and the total for the ‘;:rh:ob far is high, with a nice balance of ex. ports over imports in favor of this :o\mtry. American foreign trade so Eheen's dnd 16 por it on ottt ity per Cent, as compared na at the of foreign pat- have excel‘l:nt tries which can leas moment, to suffe; h.t it ronage. Most oIL them h‘::k logs of orders on at $455,400.- in of 22 per cent over the co! riod of 1928. gain of 25 d "the National Foreign Trade Gounl.” Toe main markets which Ameriean ex- Tts are seeking at the moment are the sition. Great 53 Germany ting American production methods and much of the goods sold to them from American consist of manufactur- ing machinery which those countries Iater corhpere With “AmSnoan mreduis mpete wi erican in_the world markets. i =m§:==:.'=. EERE oSSR 2R NERERS LSS S [ I fllm?h the additional | Argentin: would have to A ¥iss pay for' #% 15 ICURB SHARES FIRM AFTER EARLY DROP {tiities and Oils Continue Recovery—Investment Trusts Gain. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, November 10.—After opening lower and dull, the Curb Mar- ket today showed signs of improvement and greater interest as the session pro- gressed. Spectacular blg blocks of stocks were conspicuous by their ab- sence, with the result that swings were narrowed. The smaller offerings and fractional price changes later proved encouraging factors to invest- ment buying. Utilities and ofls continued their slow recovery. The oils were either un- changed or slightly higher despite the increase in daily crude oil production of this country. Mining and motor % | shares recorded only trifling el Y Investment trusts fared relatively bet- ter than trading companies in point of improvement. Aviation shares Saracterized ficates, the new price of which, $120, materially increases their yield. Modi- fication of the offer resulted from the reecnt drastic decline of security mar- The few large bid®ks that appeared hear the ing and net changes over- night follow: Cities Service, 25,000 shares at 29%, off 1; Electric Bond & Share, 8,500 shares at 63, down 1%, and Niagara Hudson Power, 5,000 shares at International stocks naturally re- flected the weakness and slackness of early dealings in world markets. was true of Chile Roan_Anteloj Ford Motor, Ltd.; however, was fraction- ally higher, and Marconi International Marine rose a point. ration of Amer- Corpo ica, which by virtue of its ownership of large blocks of Prairie Oil & Gas Co. and Pipe Line, will figure in any merger plans that may connect the latter companies with Sinclair Oil or Sinclair Pipe, moved higher at intervals. Passing of control of the Welch Grape Juice Co. to a syndicate of bankers falled to cause much interest in that stock. Some of the higher priced in- dustrials, such as Great Atlantic & Pa- cific Tea, Aluminum Co. of America, and L ere & Co., settlad down to their normal course of trading. 4| 14%, unchanged. — e GRAIN MARKET. CHICAGO, November 19 (#).—De- cidedly higher prices for wheat came about early today as a result of increas- ing reports of serious crop Ar(znf.ln; by black rust. istic. y ds of higher prices for wheat e&.n much more iveness amount of wheat on ocean only two weeks’ normal and Europe %as at the stage where tinued im purchases were impera- tive. Highest prices of the day here were reached after the Li mar- ket had closed, showing fresh advances, Steel Rail Orders Large. NEW YORK, November 19 (%) —Steel tern 'railroads for was that con~ raill buying by Wi %o deuvergu wnw“ fiof.l.la close to 1,500, tons, wi expect total orders :fll beomcn 5008 and 2,500,000 tons. First Mortgage Notes - 6% Glover & Flather 1508 H St. N.W. Naticnal 1753 Continental Trust Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Credits Time »Do’uib Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Individual Trusts Administrator, Executor Safe Deposit Boxes Total sales, 2,341 33 H 2 583 3 24 24 111% 113 20 4% % 36 1, Std Silver Lead 10% Stein Cosmetics Inc. 18 Starrett Corp....... 15 Strombg-Car 11.12% 2% Stuts Motor Car. 13 Suninv....... 32% Sun Inv pf (3).. 4 ‘SunrayOll.......... 38% 30% Superheater (t11)... 149%: 121% Switt & Co (8) 80 Glen Alden Coal +10) 19 Giean CHnwid1).. 124 Globe Underwriters. 24 4 113 20 4% 4% A % 64 B% 6% 4 3% 4 S, . 38 364 37w 2% - 2% 3% 2% 31 a2m g = 10% 30 23% [3 18% 35% 6% BRCEss Continental Trust Co. 14th and H Streets WADR 8. COOPER, President Capital, $1,000,000.00 o Store: 1 Winton Engine, 1 Wolverine - Cem 13 Zenith Radio. . al sales, 850,000 shares. 228! 5a0s Oats 35 32 Music De ‘Vry. 20% oad Shares Corp _9 Moy & C R8s 31 MR EE PRTUPROTS -~ RGO SO ONG: ey 4 35 3TU 28 124 124%