Evening Star Newspaper, January 28, 1930, Page 14

. A—14 wes RCHNOND RESERVE BANK LOANS DROP _ Six-Million-Dollar Decrease " Shown in Weekly Bor- rowing Figures. BY EDWARD C. STONE. The Federal Reserve board’s con- dition statement of weekly reporting member banks in leading cities on January 22 shows decreases for the week of '$155,000,~ 000 In loans’ and investments, $257,- 000,000 in net de- mand deposits and $10,000,000 in bor- rowings from Fed- eral Reserve banks, and an increase of $62,000,000 in time deposits. The principal changes in bor- rowings from Fed- eral Reserve banks for the week com- prise_an _increase of $20,000,000 _at the ~Federal Re- serve Bank of New rk and decreases o 11000000 at Chicago, 9,000,000 at Cleveland and $6,000,000 at Rich- mond. Loans on_securities declined $120,- 000,000 at all reporting banks, $78,000,- 00 in New York district, $19,000,000 in the Boston district, $16,000,000 in the Chicago_district, $12,000,000 in the St. Louis_district and $10,000,000 in the San Prancisco district, and increased " $13,000,000 in the Philadelphia district. “All_other” loans declined $7.000,000 ! in the Chicago district, $6,000.000 in the Kansas City district, $5.000,000 each in the Dallas and San Francisco dis- “ tricts and $31,000,000 at all reporting banks. Bertram Chesterman. Re-elected Morris Plan Head. Among the local bank presidents re- *" elected 8 the annual meetings o serve *" their_intitutions for the coming year was Bertram_Chesterman, head of the ! Morris Plan Bank of Washington. Mr. * Chesterman has been a banker for 20 years and is both a former State and tional bank examiner, his State work York Pederal Reserve district. He held an important position with the Morris . Plan chain before coming to Washing- ton in 1925, upon the organization of the . local institution. He started as its ex- ecutive vice president and was elected .. president in 1928. Under his manage- . ment the bank is reported to have forged ahead of most of the other Mor- ris Plan banks in the country. Sees Many Bank Consolidations. : C. Stanley Mitchell, chairman of the + Bank of the United States, New York, . will be merged into six or seven mam- moth systems within the next 10 years, ™ operating under a plan of national branch banking. He expects legislation to be passed that will permit branch banking to sweep the country, believing the merger and huge banking combines will be the moving spirit in future business, Mr. Mitchell his opinions on the success already attained where branch banking is permitted. His views are of much mmt’u;: where one merger - be:;hw carried out and others are taiked -, of. There are local bankers who believe * that there will be but six or seven big tanks in this city 10 years from now. But mergers take a lot of time, also a lot of money. Washington may have six banks in 10 years and then again 16 - or more. Friday tg Address Bond Club. David Friday, economist and -writer, address the members of the Wash- ington Bond Club next Friday at the Carlton at :12:30. This is th:‘reguhr January meeting, Secretary Lawrence M. Proctor’s announcement stating that Dr. Friday will speak on “Interest Rates and Bond Prices.” The economist ad- dressed the club in December, 1928, and the older members will be glad to hear him again. He is a director of the Na- tional Bureau of Economic Research ;n'd a close student of the stock mar- et. Capital Tration at 88 Today. Five shares of Capital Traction sold : &t 88 on the Washington Stock Ex- change today after the recent sales at - 9215. The stock closed with 89 bid and = 91 asked. Two bank stocks appeared on the board, 15 shares of National Bank of » Washington selling at 250 and 10 shares of Bank of Bethesda moving at 65. Potomac Electric Power 6 per cent preferred sold at 111 and the 51, per cent preferred at 108. Sand & Gravel preferred moved at 86 and Peoples Drug Stores preferred at 10315, There were several small-lot sales in Mergenthaler Linotype at 106',. Bond : trading was confined to one.very small transaction in Washington Gas 6s, se- ries A, at 102%. Insurance Officers Named. All trustees of the Mutual Invest- ment Fire Insurance Co. of the Dis- trict of Columbia were re-elected at the annual meeting of policyholders yesterday. They are Horace L. Beall, Franklin P. Nash, Melvin A. Wertz, Ruppert, Vincent L. Toomey, Harry Kaufman and Vernon G. Owen. At the annual meeting of members of the Mutual Protection Fire Insur- ance Co. of the District of Columbia yesterday the following trustees were re-elected: James B. Lambie, Clarence F. Norment, James L. Norris, N. Lan- don Burchell, R. Carter Ballantyne and { William A. Johnson. The board of governors of the Invest- ment Bankers' Association of America has selected New Orleans as the city in ) which the association will hold its 1930 convention. The convention will be held in October. Heard in Financial District. Chairman Kimball of the institute’s athletic committee reports that Wash- ington Chapter's bowling team took sweet revenge on Baltimore Saturday night at the Arcade. At Baltimore the score was 109 pins against the Wash- ington visitors. But on the home alleys the local chapter bowlers came out 111 pins ahead, giving them the splendid margin of two pins in the two contests. Karl W. Corby, one of the partners in W. B. Hibbs & Co., has gone to Florida to enjoy a short outing. Merle Thorpe’s address last night be- fore the Chamber of Commerce on the local business outlook was greatly en- Jjoyed by the many Washington bankers WE) were at the Mayflower to hear him. On February 12 Dr. B. E. Shultz, edu- cational director of the New York Stock Exchange, will appear at the forum dinner of Washington Chapter to give an illustrated lecture on the work- ings of the Stock Exchange. This is the first forum meeting of the Winter and the attraction is sure to draw a record attendance. L. T. Bridwell, for many years a well known local business man, has just celebrated his seventy-fourth birthday, many friends calling at his home to ex- tend congratulations. In and Out of the Local Banks. ‘The Washington Loan & it Co. ‘Trusf . pays a regular quarterly dividend of 3 per cent and an extra of 2 per cent on February 1. Karl W. Corby of W. B. Hibbs & Co. has gone to Palm Beach to pass sev- eral weeks' vacation. J. ‘Thilman Commerce & Savings, has left for four-month _tour, iecluding Tripoli Tunis and Morocco. Alexander Woll, counsel for the same bank, Sex Atlantic City for a short stay, E % 131% 30 2% 9% 10% 27 217 6% 130% 144 FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., TUESDAY, JANUARY 28, 1930. CRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Sales of Each Stock Compiled to 12:30 P.M. Stock and Sales— Dividend Rate. Add 00. High. Low. Abitibl Power & Pap. 274 52% 26% 17% - 32 % % 119 0 29% 2% 2% 8% 8 2 10% 10% 58 26% 25% 5 275 274 58% ' 55% 82 32 3 20 19% % 32% 814 48% 23% Adams Expr (1.60) 11% Advance Rumley.... 22 Advance Rumley pf. % Ahumada Lead...... 3 % 118 Air Reductn (t434).. 21 Alr Way El1 Ap(2%). 1% Ajax Rubber. 7% Alaska Juneau. 8% Albany I W Paper. 23 Alleghany Corp. 265% Allied Ch & Dye(n6). 49% Allis-Chalmers (3).. 30 Alpha Port Cemt (3). =191t § 46% Am Brake Shoe(2.40) 40% Am Bosch Magneto. . 8% Am Brown Bov Elec. 1 60% Am Brown BEpf(7) 80s 64% 6d% 117% Am Can (4).. 151 128% 126% 140% Am Can pf (7). -k 2142 140% 78% Am Car & Fdy () 2 81 81 36% Am Chicle Co (12%). 22 45% 26% Am Com Aleo(n1.60) 28 29 35 ~Am European Sec... 20 41 88% Am & For Power.... 50 93% 19% Am Hawalian S S (3) 28 AmHide& Leapf... 1 55% Am Home Prod(4.20) 1 36% AmIceCo (t4)...... 3 35% Am International (2) 70 2 AmLaF &Foamite. 3 80 Am La Fr & Foam ptf 10s 99% Am Locomotive (8).. 1 113 Am Loco pf (7). 2 44 Am Metal (3)... 3 % Am Piano. PP TerRe 1 508 Am Power & Lt (31) 45 % 100% Am Pow & Lt pf (6). 2 ' 175% Auburn Auto (J4)... 2 75 AmP&LDIA (3%) 3 80 AmP&LpfAst(5). 4 30% Am Ra&Std San 1% 20% Am Republics 80%: Am Rolling A 59 Am Safety Razor (5) 17% Am Seating (2). 69% Am Sm & Ref (4). 42% Am Snuff Co (13%). 10034 Am Snuft pf (¢ 44% Am Steel Fdy (3)... 110% Am Steel Fdy pf (7). 50s 601 Am Sugar Rfg (5)... 5 19% Am Sumatra (3).... 26% Am Tel & Ca (5).... 216 Am Tel & Tel (9). 197 Am Tobacco (8) . 197 Am Tobacco (B) (8). 120% Am Tobacco pf (6).. 125 Am TypeFdry (8).. 2 108 Am Type Fdry pf(7) 50s £8% Am Water Wks (nl). 10 7% Am Woolen. .. 19% Am Woolen pf...... 5 Am Writ Paper ctfs. 29% Am Writ Paper pf (3 8% AmZinc Ld & Sm... 56 Am Zinc pf (6)...... 69% Anaconda Copr (7).. 42 35 Anchor Cap (2.40)... 31% Andes Copper (3)... 5% Armour I11 (A) 2% Armour Il (B) 61 Atlas Powdr pf (; 3% Austin Nichols. . Auto-St Saf R A (3). 4% Aviation Corp Del... 30% Baldwin,Loco (1.76). 111 Baldwin Loco pf (7). 60s 115 Baltimore & Ohio (7) 15 79% Balto & Ohlo pf (4).. 63 Bang & Aroos (3%).. 2% Barnet Leather. gm Barnsdall, A (2). 8 2 2 8 308 6 3! 2 7 14 60% Beech-Nut 80 Belg N Ry pt pt 5. 32% Bendix Aviation 31% Best & Co (2) 92 Bogl'h.m St 1% British Empire Steel. 4% British Em Stl 2d pf. 18 Brockway M T.. 68 Brockway pf (7) 63 Bklyn-Manhat (4)... 84% Bklyn-Man Tr pf (6) 10 Brooklyn & Queens. . Bklyn Union Gas (5) 40% Brown Shoe Co (3) 13% Bruns-Balk-Col, ... 15 Bruns Ter & Ry S... 22% Bucyrus Erle (1).... 9% Budd (E G) Mfg (1), 8% Budd Wheel (1). 29% Bullard Co (1.60). 26% Bulova Watch (3 . 808 110 Bush T Bldg pf (7)., 10s 3 Butte Copper & Zinc. 4% Butte & Superior (2) 16% Butterick Ce 66% Calif Packing (4). 1 CallahanZinc&L. .. 81% Calumet & Ariz (10)., 29. Calumet&Hec(ad3). 63% Canadi G A (5). 4 187% Canadian Pac (10) 50 26% 4% 3% 82% 107 31% 182 30 39% 24 23% 43% 91 31% 15% 17 1 23 25 108% 100% 57 95% 142% 141% Corn Prod pf (7).. 29 291 .4 18% Capital Adm (A).. 31 Capital Adm A pf(3). 192% Case (J 1) (6)....... 115 Case (J 1) Co pf (7). 54 Caterplllar Trac (3). 62 Cavanagh-D pf(6%). 10s 35% Celotex (3).. B 71 Celotex pf (7). 1 30% Cent Alloy Steel (2). 108 Cent Alloy St pf(7). 4 Century Rib Mill 59% Cerro de Pasco (6) 108 24% Chi Mill St P&Pac... 423 Chi Mill St P&Pac pf 84 Chicago& NW (5).. 2214 Chi Pneu Tool. . 100% Chi R I& Pac pf (6) 25 Chickasha C Ol (3).. 57% Childs Co (2.40). 40% City I .60).. 2 96 City Ice & F pf (6%) 30s 8% City Stores (1)...... 7 33 Clark Equipment (3) 2 35% Cluett Peabody (5).. 8 91% Cluett-Peabody pt(7) 30s 133% Coca-Cola (4).. 4 48% Coca-Cola A (3) 14% Collins & Afkman. .. 36% Colo Fuel & Iron.... 68% Colo & Sou 1st pf (4) 10s 70% Col Gas& El (2).... 125 821 105% Col Gas & El pf A(8) 1 105% 24% Columb Graph (87¢). 109 2734 161% Columblan Carb (16) 48 189 23% Com Credit (2)...... 8 31% Comm CreditA (3).. 2 22% Com Credit pf (1%). 50s 22 Com Cred pf B (2)... I 36% Coml Inv Tr (g1.60) Com Inv Tr pf (6%) 49% 23 441 78% 80% 105% 26% 178 20% " 28% 39 38 23 221 42 89 28 46 3% 12% Comwlth&Sou(60c). 200 13% Congoleum-Nairn 18 Consol Film pt ( 10 96% Consol GasN Y (4 120 99% Consol Gas NY pf(5) 4 49 Consol RR Cub pf(6) 1 Consol Textile...... 12 Container Cor A 1.20. 4% Container Corp B. 39 Contl Baking A. 5% Contl Baking B..... 88 Contl Baking pf (8). 23% 22% 108 107% 100 99% 59 Contl Insur (3.40) 5% Continental Motors. 21% Contl Oil of Del 27% Contl Shares (1)... 874 Corn Prod (13%). 24% Coty Ine (g2).. 28 26% Cream of Wht(12%). 5 27% 27 104 Crosley Radio (1),ae 31 16% 15% 16% A6% _ 10 94% 93% 934 94% 140s 141% 140% 140% 141% 28% 27% Prev. Close. Close. 27% 52% 26% 19% 3% 5 % 119% 121% 29% 3011 2% 2% 8% 8% 10% 10% 25% 261 274 274 57 32 6416 127% 129 140% 141% 81 814 46 30% 39% 94 21% 29% 587% 3T% 40% 2% 2% 31% 381% 100% 101 112% 118 46% 45 % % 4 4 85% 86% 100 101 6% 826 337 22% 884 60% 22% 73 4 43% 102 102 48 48 112% 111% 63 6214 22 22% 27 27 222% 224% 218% 221 218 2211 120% 120% 127% 128 110% 110% 83% 33% 21% 88 61% 21% 3% 3 28 25% 117% 118 101% 102 27 8 61% 94 94 144% 143% 49% 493 23% 24 44% 46% 78% 724 80% 824 105% 106 26% 28% 183‘/. 180% 23% 23 107% 108% 99% 99% 56 6% 23% 31% 94 22% 31 27 28% 21% 27% Cuban-Am Sug % Cuban Dom Sugar. .. Cudahy Packing (4).. Curtiss Wright Corp. Curt Wright Corp A.. Cutler-Ham (3%) Eastman Kodak (18) Eaton Axle & 8 (2).. Eitingon-Sch (3%% Elec Auto Lite (6). ElPwr&Ltpt (7).. Elec Storage Bat (5). 3% Emmerson-BratA.. Evans Auto L(32%). 5% Fatrbanks Co....... Fairbanks Copf..... Fairbanks Morse (3) Fairbanks M pf (7).. Fash Park Asso (2% Fed M &S pf (7).... Fed Water Ser A 2.40 Federated Dept Strs. Fed Motor Tr (80c).. Fid Pho Fire 1(2.60). Filene's Sons. Filene's pf (6%4).... Firestone T&R(1.60) Firestone T&R pf(6) First Nat Strs (23%). Fifth Ave Bus (96 Follansbee Bros (3). Foster Wheeler (3).. Foundation Co...... Fox Film A (§4).... Frank Simon pf (7).. Freeport, Texas (15) Fuller pr pf (13.68). Gabriel Snub A, Gardner Motor, . Gen Amer Investors. Gen Am Tnk Car(34) Gen Asphalt (4).. Gen Baking pt (8) Gen Bronze (2). . Gen Cable...... ‘Gen Cable pf (7) Gen Cable A (4). GenG&Elpt A (7 Gen Cigar (4). Gen Electric (1 Electric (new). Gen Elec spec (60c).. Gen'l Food Corpn (3) Gen Gas&El A (te2). General Mills (3). Mills pf (6) Motors (13.30).. Gen Motors pf (7)... Gen Public Serv (b§) Gen Ry Signal (5)... ctories (4). Gillette Saf Raz(n5). Gimbel Brothers. Glidden Co (h32)..... Gobel (Adolf)...... Goodyear 18t pf (7).. Gotham Silk H (23) Gotham 8 H pf (7).. Gould Coupler. Graham-Paige...... Granby Copper (8).. Grand Silver Strs (1) ‘Grand Union. ‘Grand Union Grt North pt (5) Grt North pf et (! Gt NetfsO P (i 2% Grigsby Grunow (2). 51% Gulf Sta Steel (4)... Hahn Dept Sto: . Hahn Dept S pf(6%)" Hall (WF) Ptg (m1). Hamilton W pf (6).. Hanna (M A) 1st (7) Hanna pt (new) (7). Hartman Corp B 1.20 'shey Choc pf(15) Hershey Ch pr pf(6). Hocking Val (10). Houdaille Her B . Housed F pf 13.12% . Household Prod(t4). Houston Ofl........ Howe Sound (t4%).. Hud&Man Ry (3.50). Hudson Motor (5)... Hupp Motor (£2) Independ Oil & G (3) Ind Motor Cycle..... Prev. . Close. Close. oy %o “bon 10% 1 % 14 12% 8 % 1% 12% 8 3 T 8 2 = g - PYSE YT TR BN 9 JOR P U CP PR UPTE- J05 PN PRSP TS 5 17 Indn Motoreycle pt. .180s 7 Indian Refining..... Indian Refining “fi“ . Interlake Iron (1) Intl Bus Mach (n Intl Cement (4)... Int Combustion...., 1 Inter Comb Eng pf.. Intl Harve T (2%) Intl Harv pt (7)..... Int Hydro El A (e2). Intl Match pf (4). Intl Mer Marine (1).. Int Nickel of Can (1) Intl Pap & P A(2.40). Intl Pap & PwrC.... Intl Pap & Pwr pf(7) Intl Printing Ink (3) Intl Rys Cent Am... Int Silver (6)....... 68% Int Tel & Teleg (2).. 30 Inter Dept 8t (2).... 78% Inter Dpt 8t pf x w(7 19 Investors Equity(2). 42 Island Creek Coal(4) Jewel Tea (4)....... Johns-Manville (3). . Jones & Laugh p£(7) 1 Jordan Motor Car... an City Sou (5).... Karstadt (R) (1.02). Kautmann)D 8 (1%) Kayser Jullus (4)... Keith-Albee-O pf (7) Kelly-Spring Tire... Kelly-Spring 6% pf. 1 20% Kelly Spring 8% pf. 22% Ko 118% 2 4). 42% Kroger Gr&Bak(n1). Lambert Co (8). . 008 15 4 1 2 3 1 3 008 10s 17 Leh Port Cem (334) . o Leh Port Cm pf (7. Inc (3)...... Inc pf (6%). Loew's pf x w (6%). Lott. Inc..... . 50% Loose-Wiles (.80 . 118% Loose-Wiles 1st (7). 16% Lorillard (P) Co...., 8% Louisiana Ofl....... 38% LouG&EIA (1%).. 32% Ludlum Steel (2). 40% McCall Corp (2%). .. 14% MclIntyre Pore M(1). 61 McK'port TP (14%). 32 McKesson & Rob (2) 18 McLellan Stores..... Stock and Dividend Rate. Sales— Macy (RH)&Co (nt3) Madison Sq G (1%). Magma Copper (5).. Mallinson & Co. Manat! Sugar pf. Man Elec Supply. ... Man Eley mod (d5).. Maracaibo Oil Exp. . Marlin-Rockwl t4% . Marmon Motor (4).. 1 Martin-Parry. . Mathieson Alkili (2 Mathieson pf (7). May Dept Strs (n2) Maytag Co (12). Melville Shoe (2 Mengel Company Metro Gold pf (1.89) Mexican Seaboard. Miami Copper (4) Michigan Steel (234). Mid-Continent P (2). Middle States Ofl ct. Miller Rubber Mil El R&L pf Minne&Hon Reg (14) Minn Moline Pwr. ... Minn Moline pr 63 . Minn & St Lou sl Mo Kan & Tex: o 81 Mo Kan & Tex pf(1). 1 Missouri Pacifle..... 11 Missouri Pac pt (5).. 1 Mohawk C Mills (3). 3 Montgomry Wrd (3). 288 Mother Lode (40c).. 6 Motor Products (2).. 4 Motor Wheel (3).... 2 Mullins Mfg........ 3 Mullins Mfg pf (7)..780s Munsingwear (3).... 1 MurrayCor (b2%stk. 40 Myer(FE)& Bro (2). b6 Nash Motors (6) 15 Nat Acme (134) 1 Natl Alr Trans. ., 3 Natl Bella Hess (¥ Nat Biscuit (7) Nat Bisn (p2.80). Nat Cash Reg,A(14). Nat Dairy (32) 137% % 12 TSI TP ey - Su s 5 Natl Lead pf B (6).. 2 Natl Pwr & Lt (1) Natl Surety (5). Nat Tea Co (2). Nelsner Brothers. .. Nevada Copper (3).. Newton Steel (3).... N Y Airbrake (3.60).. 08 47 7 96 9 hi & St L pt(6) Dock 5 2: pf(4) 308 North Am(b10%stk) 29 Northern Pac (5).... 17 North Pacet (5)..... 2 Nor Ger Lloyd(3.41). 3 Oil Well Supply..... 1 Oliver Farm Equip.. 95 Olivr Fr Eq ev pt(3). 28 Omnibus Corp...... 8 Oppenheimer Col (5) 4 Orpheum Cir pf (8).. 108 Otis Elev pf (6 Otis Stee] (2%4). . Owens 11l Glass(n4). 1 Pacific Gas& E (2). 5 Pacific Lighting (3). Pacific Mill: Pacific Oil Pacific Tel & T (7).. Pacific T & T pf (6). 100s Packard Motor (1).. 53 Pan-Am Petroleum.. 1 Pan-Am Pete B. 5 PanhandleP&R.... 2 -amount-F-L (3).. 327 Park & Tilford (33).. 2 Park Utah. . cee 4 Parmelee Trans 1%. 200 Pathe Exchange. 50 Pathe Exchange A 40 Patino Mines (3.89). Peerless Motor Car.. Penick & Ford (1)... Penney (JC) (2%).. Pen (JC) pf A (6).. Penn Dixie Cement. . Penn Dixfe Cemt pf. Penn Coal & Coke. ... Pennsylvania RR(4) Phelps Dodge (3).... BRoanEanos Philip Morris (1). Phillips Petrm (n: ‘Plerce-Arrow A. Plerce Ofl..... Pierce Petroleum. Pillsbury Flour (2). Pirelli Co A (2.88)... Pittsburgh Coal pf. . Pittsbgh Screw 1.40. Pittston Company. .. Poor & Co (B) (2)... P Rican Am To (B).. Prairie O&G (12%).. Prairie Pipe L (15).. Pressed Steel Car. Proc & Gamble (2).. Prophylactic Br(2). Public Serv, NJ 3.40. 103 Pub Sve NJ pf (6)... Pullman Corp (4). wolum Zunowasamannan s (Robt) & Co pf. Rem Rand (50¢). .. .. Reming-Rnd 1st (7). Reming-Rnd 2d (8).. Reo Motor Car (.80). Repub Ir & Steel (4). 12 RepIr&Stipf(7)... 8 Revere Cop&B pf(7). 20s Reynolds Spring.... 92 Reynolds Tob A (3). 20s Reynolds Tob B (3).. 19 Richfield O1l (2) Rio Grande O1l1 (2).. 4 Rossia Inc (2.20).... Royal Dutch (a3.20). 3 11 3 30 2 1 1 508 St Joseph Lead (13). 26 St L-San Fran (8)... St L-San Fran pf(6). Savage Arms (2) Schul Schulte Retadl pi Seaboard Air Line... 6 Seaboard Air Linepf 1 Sears Roebuck (32%) 60 Second NatlInv..... 2 Add 00. High. Low. 70 Mack Trucks (6).... 1 7 781 143% 12% 49% 50 Stock and Sales— Prev. Dividend Rate. Add 00. High. Low. Close. Close. % 17 3% 38 3 2 ) Shattuck(FG)(113%). Shell Unlon (1.40)... Shell Un O11 pf (5%) Shubert Theatres. Simmons Co (g3). Simms Pet (1.60). Sinclair Con Ofl (3. Sinelair Of1 pt (3) 8% Southern Pacific (6). Southern Rwy (8) Sou Ry M&Oct (4). Spang-Chalfant..... Sparks Withngtn(1). Spear & Co. . our Spencer Kelg (1.60). Spicer Mfg. .. Spies Sple Stand Brands (1%).. Std Brands pf (7)... Stand Com Tob (1).. Stand Gas & El (334) Stand G& E pf (4).. Stand Invest Corp. .. Stand O of Cal (2%). Stand OII N J (12)... Stand O1I N Y (1.60). Stand Plate Glass pf. Stewart-War (h3%). Stone & Webster (2). Studebaker (35)..... Telauto Cp (+1.25). . ‘Tenn Cop & Ch (1) Texas Corp (3). ‘Tex Gulf Sul (4) Texas & Pac (5) Tex PC&O (b10%). Texas Pac Land Tr. . Thatcher Mg (1.60). Third Avenue. : Thompson J R (3.60) Thompson Starrett. . Thomp-Star pf (3% ) Tide Water Asso 60c. Tide Wat Asso pf (6) Timken Det Ax t80¢ Timken Roller (3) % Tobacco Products. Tobacco Products A. Transcontinental Of1 Tra &W(1).... Trico Prod (2%).... ‘Truscon Stl (g1.20).. Twin City Rp T (4).. Twin City R'T p£(7). Und-Ell-Fisher (5). . Union Carbide (2.60) Union Ol of Cal ($2) Union Pacific (10)... Union Pacific pf (4). Utd Afreraft& Trans. Utd Alreraft&T pf 3. Utd Biscuit (1. 5. 20% 11 39 14% 41% 124 Unt Utd Gas & Imp(1.20 Utd Gas & Im pf (5). Unit Plece Dye W (2) United Stores A. Udt Stores pf. U S Leather. S Leather A. Pipe & Fdry (2). Pipe 1st pf (1.20) Realty (5)...... Rubber. Py Rubber 1st pf. .. Smelt Ref (3%). Smelt Ref pf 3134 Steel (7).... Steel pf (7). U S Tobacco (4)..... U S Tobacco pt (7).. 10 Univ Leaf Tob (3)... cadagacdaa nhnunnnnn Vick Chemical (3%). Virginia-Car Chem. . Vulcan Detinning. .. 130s Vulcan Detin A. 10: Wabash... Waldorf Systm Walgreen pf (6%) Walworth Co (2). Ward Baking B. Warner Bros Ple (4). 623 War Bros P pf (2.20) Warner-Quinlan @ st (3). Webster-Eisenlohr. . Wess Oil & Snow (2) West Penn El A (7). West Penn El pf (6). West Penn El pf (7). n Pw pf(6) Penn Pw pf (1) Dairy (B).... rn Maryland. ., rn Md 2d pf... 'n Pacific pf. Western Union (8).. Westngh Ald Brk(2). Westinghse E&M (5) Westhse E&M pf (5) % Weston El Ins (1)... 4 Weston E1A (2)..... Wextark Radio (2).. Wheeling & LE pf... White Eagle Oil (2). White Motors (2). White Rock M 8 (t White Sewing Mach. White Sw Mch pf (4) Wilcox Rich (A) 2% Wileox Rich, B (2) Willys-Over (1.20). Woolworth (2.40). Worthington Pump. Yale & Towne (15).. Yellow Truck &C... Young Spring (3)... RIGHTS EXPIRE Am R Mills. .June 15 Sales of Stocks on New York Exchange. 10:30 A M. « 394,200 12:00 Noon. 1,252,700 2 1,916,500 2:10 P.M......... 2,384,200 Dividend rates as given in the above table a payments based on. the Iatest Guarterly o Half eacy Groes.Cah sUnit of lrlfllllg less than 100 sha tly extra. tPlus 4% in stock. §Payable in scrip. % ocl Pald la: o s HE R 3 T o e 11% C. & P. COMPANY VOTES $123,800 ADDITIONS Washington and Vicinity to Bene- fit by Action Taken Today in Baltimore. At a meet of the directors of the ‘Cuesapeake l:‘?olomlc Telephone Co. of Baltimore today an expenditure of $123,800 was voted for improvements. Part of the money is to be used in conduits in Baltimore, a further sum for a new underground toll line to Washington, while other improvements and extensions are to be made in the | their territory adjacent to Washington. —_— FOREIGN EXCHANGE. . B. Hibbe & C0.) 1021 Soid Selline o Grpan A % | hamper, 2.0084.00; good, 15| 10 9.00; plain to FINANCIAL, STOSINRALY | FOLLOWING DROP Market Again Turns Upward, With Coppers and Farm Implements Leading. BY STANLEY W. PRENOSIL, Associated Press Pinancial Editor. NEW YORK, January 28.—The stock market successfully weathered a storm 4| of selling in today's early trading and ~ then moved upward under the leader- ship of the business machine, copper, farm implement and public utility shares, several of which advanced 2 to 7 points. A few soft spots cropped out here and there, and occasional selling attacks were directed against such is- sues as Fox Film, General Motors and % | Radio, but the market generally dis- " played a firm undertone. Hoover Statement. Two of the most interesting develop- ments in the day's news were President Hoover’s statement of a further gain of 3.3 per cent in employment during the past week, as shown by the Labor De- partment report, and the decline of $120,000,000 in loans on securities col- lateral revealed in the Federal Reserve Board's weekly condition statement of Teporting member banks in leading cities. Wall Street found considerable encouragement in the continued prog- ress of liquidating these security bor- rowings. Early irregularity of the market prob- ably was due to the suggestions of sev- eral large commission houses to take trading profits on the theory that the market was entitled to at least a techn! cal reaction. So-called “chart reader: are anxiously following the course of the market to learn whether it will break through the high level established in December, such action being regard- ed by them as an indication of a further sharp advance. Strength of the business machine shares was based on forecasts of un- usually favorable 1929 earnings, soon to be published. Underwood Elliott Fisher ran up 7 points, International Business a- chines, 5%;; National Cash Register, 4, and Burroughs Adding Mac) Columbian Carbon, which is engaged the development of natural gas properties, also ran up 7 points. Phila- delphia Co. advanced 61%: Electric Auto Lite, 5%; Republic Steel preferred, 4, and J. I. Case, Oliver Farm Equipment common and convertible preferred, Mul- lins Body, Pacific Telephone and New ’\"‘m;l‘( & Harlem sold 3 to 4 points igher. . Other Gains, Among the many issues o sell 2 or more points higher were Anaconda, St. Joseph Lead, National Lead, Advance Rumely common and preferred, Read- ing and Norfolk & Western, the last named responding to the increase from 8 to 10 per cent in the regular annual dividend. Low-priced shares were favored in the late buying movement and “ issues selling between $20 and $60 a share rose from 2 to 6 points. Allis- Chalmers, Advance Rumley, F. G. Shat- tuck, Interborough Rapid Transit, Celo- tex and International Combustion En- gineering preferred were prominent. The usual market leaders moved uncertin- ly, with Radio, General Electric and American Telephone showing weakness. Coppers ~ and strength. The closing tone was irreg- ular. Total sales approximated 2,900,000 shares. 14 | Speclal Dispatch to The Star. BALTIMORE, Md., January 28.—Po- tatoes, white, 100 unds, 2.25a4.50; sweet potatoes, barrel, 2.00a3.00; yams, ;‘r;m’l:‘on.z‘ 5a25; beans, ssel H cabbage, hamper, 50a75; carrots, 100, 3.00a4.00; cauli- flower, crate, liinm‘”: crate, : eggplants, cra basket, 2.25a3.00; = onions, 100 EOM. 1.50a1.75} ppers, crate, 3.5025.50; p-nn.lr. bas- et, 50265; spinach, bushel, 1.75a2.00; squash, crate, 2.00a2.50; tomatoes, crate, 2.5026.00; - turnips, hamper, 30a40; ap- ples, bushel, 75a2.75; cranberries, hox, S.Mu.fioso‘f;wflzll’;é box, 2.50a4.50; Poultry, alive—Turkeys, pound, $2a 35; old toms, 22a24; S cl ns, 28a32; Leghorns, 22a25; old hens, 20a horns, 23a25; r and thin, 17a roosters, 17a18; capons, 30a35; 16a26; geese, 18a28; guinea fowls, each, 40a60; pigeons, pair, 25a30. Eggs—Receipts, 514 cases; native and nearby firsts, 37a38; pullets, 33a3! hennery . whites, firsts, dozen, 38ad( culls and dirty eggs, 25a30. Butter—Good to fancy creamery, pound, 33a3: ladles, 30a31; store packed, 20; ralls, 25a28; process butter, 34a45, Live Stock Market. c«ttle—agcgl:g 50 head; light sup- ly; market s . e Steers—Choice to prime, none; good to choice, 12.75 to 13.00; medium to good, 11.50 to 12.50; fair to medium, 1025 to 11.25; plain to fair, 9. 10.00; common to plain, 8.00 to 9. Bulls—Choice to prime, none; to choice, 9.50 to 10.00; medium to good, 9.00 to 9.50; fair to medium, 8.50 to 9.00; plain to fair, 8.00 to 8.50; common to plain, 7.00 to 8.00. Cows—Choice to prime, none; good to choice, 8.00 to 9.00; medium to good, 7.50 to 8.50; fair to medium, 6.75 to 7.25; plain to fair, 5.50 to 6.50; common to plain, 4.00 ta 5.00. Heifers—Choice to prime, none; good to choice, 10.00 to 11.00; medium to 9.00 to 10.00; fair to , 8.00 ir, 7.00 to 8.00; com- mon to plain, 6.00 to 7.00. Fresh cows and Springers, 60.00 to 150.00. Hogs—Receipts, 300 head; light sup- ply; market higher; lights, 1110 to 11.35; heavies, 10.70 to 10.95; medium, 1110 to 11.35; roughs, 7.70 fo 9.35; light plgs, 1040 to 10.80; pigs, 10.96 to 11.10. Sheep and lambs—Receipts, 25 head; fair supply; market steady; 2,00 to 6.50; lambs, 7.00 to 14.! MACHINERY MARKETS SHORT-TERM SECURITIES, SHOW UNSETTLEMENT |, Reenec bv 3. & W. Seliema, Allls-Chalmers Co. By the Associated Press. ATy YORK, January 28.—Machine tool and ‘machinery markets of the| B country in the past week showed signs | Baj Ter of being in the grip of a “hangover” from the normal seasonal slowness, | Sanadian Nat. & American Machinist reported today. | Shicags Rock 1y Sales are scattered and the general sit- | Shile Copper Co. 8 194 uation is described as spotty. Sitany Jecking Co. Certain areas report improved busi- | Ge c iy B Biiain, i, "o g off, but majority n is op~ timistic concerning the immediate fu- ture. The tool market is showing improvement, deliveries are hols nd prices are not expec to change. Sh “Reports from the New York mar- ket indicate good business in tank cars, but little activity in machine tools. y inquiries are up in | 85t & ot w'ummwm TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) —_— U. 8. GRAIN EXPORTS. By the Associated Press. G Calvas—Receipts, 25 head; light sup- ply; market steady; calves, 7.00 to 17.50, Hay and Grain Prices. Wheat—No. 2 red 1.214; No. 3, Corn—No. 2 domestic, yellow, new, 99a1.00; cob corn, new, 4.65a4.75. Oats—No. 2 white, domestic, spot, 55; No. 3 white, domuucéolpoz, 54. Hay—Receipts, none. General hay riving. but harity Sogagh upon which arriving, enough upon w to establish quotations by Bet- ter grades for timothy and clover mixed are selling. fram 15.00 to.18.00 per ton, according quality and condition. Receipts by ick supplying most re- ""lsTrm""vahug No. 1 ton, 9.008 awW— . 1, , 9. wohlfl.w. 10.00; ocat, No. 1 per ton, 'NEW SECURITIES. NEW YORK, January 28 (P)—New The Washington Water Power Co. (controlled - by . the American Power & § per cent interest,