Evening star. [volume] (Washington, D.C.) 1854-1972, February 18, 1929, Image 15

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Evening star. [volume], February 18, 1929, Page 15, Image 15
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 18 Feb. 1929. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1929-02-18/ed-1/seq-15/>

Newspaper Page Text

First Mortgage Loans
lowest Rates of Interest and Commission
Thomas J. Fisher it Company, Ine.
Mortgage Money Loaned
At Low Interest Rates
Tyler & Rutherford
Representlag Mutual Benefit Life In*. Co.
1520 K Street Main 475
♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦|
Auto, Firm, Burglary, Bondt, o
g Compensation, Liability, Life. ♦
o Harrell Bros. & Roesch ♦
: INSURANCE t
♦716 Uth ST. N.W. Main 805»
♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦a
We Buy and Sell
Liberty Bonds
Treasury Notes
Etc.
Bond Department
The Washington Loan and
Trust Company
900 F Street
620 17th Street
6% NOTES
Secured br
First Mortgages
Safe —Conservative
Make your savings 4| Years’
and surplus funds T . '
work for you st Experience
the highest Inter- in financing
est rate consistent homes and In the
with abao 1 u t e sale of these se
aafety. curlties.
Wm.H. Saunders Co., Inc.
REALTORS
Main 1016 1433 K
: ;; \ '
| Mortgages Investments
JAMES Y. PENNEBAKER
j Main 5328 1520 KSt N.W.
..-i. ■ j
Buck & Company I
BROKERS
Established 1916
Stocks Bonds
Grain Cotton
Write or colt tor weekly market letter
So obligations
BUCK AND COMPANY
Evans Bide.
1420 New York Ave.
Franklin 7300
Money to Loan
Secured by fleet deed of trait on real estate.
Prevailing interest and commission.
Joseph I. Weller ff, "■ft
Where progress
is a fixed habit
jy At The Service Shop each
step follows a logical
1/ path, without confusion,
If ||i without waste. ... the
jy "" heritage of half a cen
/ tury's Printing experi
ence. You are surprising-
ly free from bothersome
details.
■ 9
Byron • S
ADAMS
"fjrhxr Slitypcint "
MAIN Bzoj
» _ jii ELEVENTH
* - l STREET N.W.
Invest your
/ Money t o Earn
0% 6 % with
I*l Guaranteed
Safety
First mortgage bonds
. _ . and first mortgage notes
I n*7 sponsored and approved
by this corporation, and
Vr I f J whose value is beyond
" question, are your se
curity. You have choice
of type and location of
your Investment.
* * Denominations from
UM 7 $250 up.
° ur rer >°nrces assure
protection of principal
and prompt payment of
interest.
Send lor booklet.
Real Estate
Mortgage & Guaranty
Corporation
FINANCIAL.'
BOND PRICES MOVE
IN NARROW RANGE
Credit Situation Affects Trad
ing—Convertibles Re
cede After Rally.
BY CHARLES F. SPEARE.
Special Dispatch to The Star,
j NEW YORK. February 18.—The bond
market, like the stock market today,
reflected uncertainty over the effect of
the present restraints on speculation.
The renewal of call money at 8 per
cent, along with the present quotations '
for time loans and for bankers’ accept- !
ances, makes a difficult situation for the
investment market to deal with.
In view of the low prices prevailing
for Liberty bonds and for Treasury cer
tificates, the latter having had an av
erage decline last week of over a point,
there seemed to be technical reasons
why this group should rally. Liberties
were somewhat firmer, but several of j
the certificates dropped below Satur
day's closing.
Nothing definite will probably be done
in setting the rate for the March notes
for several weeks, as they must be In
line with money at the time they are
issued. On the basis of existing condi
tions it would seem necessary to refund
the low coupon certificates about 1 per
cent higher than the original rate. A
better basis, however, may be estab
lished by stock market and money mar
ket developments before March 15.
Convertible bonds rallied slightly
early and were dealt in small volume,
but later lost ground. The fluctuations
in high-grade corporation issues were
also insignificant and did not suggest
that buyers were taking any advantage
of the present low range of quotations.
Some of the industrial 5 and 6 per cent
mortgage issues, including Humble Oil
ss, Container 6s, Dodge 6s, Internation
al Paper 6s, U. S. Rubber 5s and also
Remington Rand 5%5. and National
Dairy Products sVis, were slightly lower.
In the railroad list an advance of a
full point in Missouri Pacific general
4s. afterwards lost, compared with the
decline of % in Rock Island 4'*s and
fractional losses elsewhere.
Italian convertibles were off % to 1%
points. Brazilian, Argentine, Peruvian
and Chilean bonds were higher. (
The completed figures of January
financing, which amounted to over $l.-
000.000,000 showed less than 15 per cent
for refunding purposes and over twice
as much volume in common and pre
ferred stocks as in bonds and notes.
The largest proportion of $178,444,000
of miscellaneous stock issues was rep
resented by those of Investment trusts
and trading corporations, of which
there were no less than thirty new ones
during the month.
•
Power Budgets Increase.
NEW YORK, February 18 i/F). \
Budgets of electric and gas companies i
controlled by the United Gas Improve- 1
ment Co., Philadelphia, call for ex- 1
penditure of $34,500,000 in 1929 for ex- 1
pansion and improvements.
■ " »■
FOREIGN EXCHANGE. j
(Quotations furnished by W. B. Hibbs & Co.) (
Nominal gold Selling checks |
r . value (or par). today. .
Londtn. pound 14.8665 34 85’. 1
Paris, franc 193 ,0390‘«
Brussels, belga 139 .1389 ‘2
Berlin, mark 2382 .2372 ,
Rome, lira 193 .0523'-, ;
Zurich, franc .193 . 1
Athens, drachma 193 . . 1
Madrid, peseta 193 .192S'« ,
Vienna, schilling 14069 .1418 '
Budapest, pengo 1749 . .. I
Prague, crown (nom.) .0296 1
Warsaw, sloty 193 . . ,
Copenhagen, crown 268 .2689 1
Oslo, crown 268 .3669 (
Stockholm, crown 268 .2673 j
Washington Stock Exchange |
SALES.
Capital Traction C 0.—20 at 106%.
Chestnut Farms Dairy com.—lo at 219,
10 at 218. *
Potomac Electric 6% pfd.—s at 111 34 !
Potomac Electric 0% % pfd.—2o at '
108 H. 30 at 108'i. '■
Washington Rwy. & Elec, pfd.—2o at 1
98*4, 10 at 98%.
Columbia Sand & Gravel pfd—lo at '
95 Va-
Mergenthaler Linotype—so at 104%. ;
AFTER CALL.
Potomac Elec. Cons. 55—52,000 at 101%. '
Mergenthaler Linotype—so at 104%.
Georgetown Gas 55—52,000 at 101 Vi. 1
Potomac Electric 6% pfd.—l2 at 111%. 1
Capital Traction Co.—s at 106%. 1
Bid and Asked Prices.
BONDS.
PUBLIC UTILITY.
Amer. Tel. A Telga. 4% 99V«
Amer Tel & Telga. 4',s 99'4
Am. Tel. A Tel. ctl. tr. 5s 103 7 /*
Anacostia & Pot. R. R. 55.... 95 97
Ana & Pot. guar. 5s 95
C. A P. Telephone 5s 99V.
C& P. Tel. of Va. 5s ” 102 i”::
£“f>- Traction R. R. 5s 100’i 102
Cite A Suburban 5s 95 97
Georgetown Gas Ist 5s 100'i 102
Potomac Elec. Ist 5S 99V* 100
Potomac Elec. cons. s'i 101 >2
Potdtarac Elec 6s 1953 108
Wash., Alex. A Mt. V. ctf 2 Y
Wish.. Balto. Sc Annap. 5s 82
SS!h‘ n J? #n .° M 5 * 100 Vi 102
Wash. Gas 6s, series A 105
Wash. Gas 6s. series B 105>* 109
Wasp). Rwy. & Elec. 4s 89V« 89V,
Wash. Rwy. & Elec. gen. 65... 102 102V*
MISCELLANEOUS.
Barber & Ross. Inc., o',*s 94 94V.
Chsm-Vanblt Hotel 6Vis ..... 94
Chestnut Perms Dairy 6>*5.... 106'* 107>*
Chevy Chase Club s'*s )02 . .
D. C Paper Mfg. 8s 94 97
Pot. Joint Stock Ld Bk. 55.. 94
JJ, i* Go,<l Storage 5s 98
Wash. Cons. Title Co. 6s 100 103
STOCKS.
PUBLIC UTILITY.
Am" , T «I- * Telga 206
Capital Traction Co 106Y4 106'*
Washington °.s 11l 120 1
N. A W. Steamboat 300
Potomac Elec, 6"v pfd •Ill'-* ill*.
s :r- p,d *ioBv* io*>i
S' swy5 wy Kl,,c c0m...... *550 610
Wash. Rwy. k Elec, pfd *9B’« 98Ti
NATIONAL BANK.
National Capital 250 290
Columbia . . 400 480
258 275
Federal-Amerlcan i 343 350
Liberty 955 275
Lincoln . «o
National Metropolitan 420 450* '
RlggS 577'<» s*l
Second t * * 255 260
National Bank of Washington'.. 313 320
TRUST COMPANIES.
American Security A Trust Co. 470 47T
Continental Trust 135
Merchants' Bank J 54 isa '
National Savings A Trust 540 600
Union Trust 350 355
Wash. Loan A Trust 525 550
SAVINGS BANK.
Bank of Bethesda gfti an
Commerce A Savings 330
East Washington 38 '4l' *
' Potomac 315 350
1 Security Savings A Com 511 526
I Seventh Street. 310
United States 600 766"
1 Washington Mechanics’ 50
FIRE INSURANCE.
' American 340 350
* Corcoran 150
f Firemen’s 48
National Union 27
l TITLE INSURANCE.
Columbia Title 1314 15
, Real Estate Title 223 235
. Title A Inv. Co. of Md. com 45
I Wash. Cons. Title pfd 51
MISCELLANEOUS.
Barber ft Ross. Inc., com 20 23
Chevy Chase Dairy pfd 107 110
Chestnut Farms Dairy com 216 219
Chestnut Farms Dairy pfd ... 110', 111'!.
Columbia Sand A Gravel pfd. . 95V, 95%
Commercial Natl. Co. pfd 104
D. C. Paper Mfg. pfd 87 90
Dlst Natl Securities pfd 102
Federal Storage pfd 120 127
Pederal-Amerlcan Co. com 54 5514
Federal-American pfd 102 104
Lanston Monotype *123 130
Merch. Trans A Storage 127 130
Mercli. Trans A Stor. pfd.... 109', 110
Mergenthaler Linotype 104 U 104*4
Natl. Mice ft Inv. pfd 5* 4 3 1 ,
Peoples Drug Stores pfd 119 123
Security Storage 124 .....
Ter. Ref. ft Whr*. Corp 51 % 52V«
Wash. Conv. Hall pfd 75 95
Wash. Meeh Mtee. com 11 14
W*sh Medical Bldg. Corp 90
Woodward ft Lothrop Pfd 109 .....
*£x dmde&d.
THE EVENING STAR. WASHINGTON. D. C„ MONDAY, FEBRUARY 18, 1929,
l 1 0N NEW YORK ibonds; STOCK EXCHANGE) j
Received by Private Wire Direct to The Star Office
UNITED BTATB&
are in tl 0(10.1
Sales. High. Low. Ciosa.
LtbtHa... 133 87 21 97 18 97 21
Lib Ist 4%9 69 89 25 99 23 99 25
Lib 4th 4%a 154 9931 99 28 99 30
U S 3%a 43. 9 97 9624 96 24
U S 3%i... 136 100 20 100 10 100 10
US 49 1944. 10 103 4 103 4 103 4
US 4 *4s 52. 67 108 18 108 06 10810
FOREIGN.
Sales. High. Low. Close.
Argentina 5a 2 92* 91* t 92'/«
Argentina 6s Ju 59. 62 100 V& 99\ 99*«
Argentina May ’Bl. 12 100*4 lOOVa 10014
Argentina ta Oct 69 1 100% 1004 1004
Argentina 6Ha'62. 27 964 964 964
Argentine 6a A.... 12 100% 100 100
Argentina 6a B 16 100 394 100
Australia 44* 56.. 28 874 874 874
Australia 6a 1956... 33 954 954 954
Australia 6s 1957.. 20 94% 944 944
Austria 7a 2 10114 1014 1014
Rank of Chtla *4a. 13 98 974 98
Bs.nk of Chile 6%5. 1 994 994 994
Belgium 6a 15 1004 100 1004
Belgium 64 a 6 106 1054 105%
Belgium 7a 1956... 68 108% 1074 1074
Belgium 7a 1966.... 42 1064 105% 105%
Balgtum 74a 13 114% 114% 114%
Belgium <s 9 109% 1094 109%
Bolivia 7a 1 894 894 894
Bolivia Is 16 1014 1004 1004
Bordeaux 6a 34 100% 1004 1004
Braxll 64a 1926.... 19 954 954 954
Brazil s4s 1927.... 20 954 93 954
Brazil 7a 8 1004 100 100
Brazil Sa 2 107% 107% 107%
Canada 5s 19J1.... 13 1004 100 100
CanadaSs 1962.... 5 1044 1044 1044
Canada 64a 1929.. 36 1004 100 1004
Chila 6s ’6O 14 934 93 93
Chile «s'6l 16 934 924 924
Chlneaa Gov Ry 6s. 4 434 434 434
Christiania 6a 1 994 99% 994
Colombia 6s Jan’«l. 10 884 874 87V.
Con Pow Japan 75.. 6 98% 98% 98%
Copenhagen 44s 53 12 88 874 874
Copenhagen 5a ct.. 3 96 96 96
Czecho 8a 1961 8 1094 1094 1094
Czecho 8s 1952 5 1094 1094 1094
Danish Munlc *s A. 6 1094 109 109
Danish Munlc 8a B. 6 1094 109*4 1094
Denmark 44a 20 884 88% 88%
Denmark 6s 26 101 1034 104
DEI 54s Nov 53.. 2 1034 1034 1034
Dutch East 16a 47. 11 1034 103 103
Dutch East I 6a 62.. 11 103V* 1034 1034
El Salvador Ss '48.. 6 110 110 110
Flat 7s war'46 33 160 1594 1594
Flat 7s x war ,46... 2 974 974 974
Finland 54s 8 90 894 9ft
Finland as 6s '45... 1 97% 97% 97%
Finland 7a 14 1004 1004 1004
Framerlcan 7 4a... 3 1044 1044 1044
French 7s 36 1084 108 108
French 74a 19 1114 1104 111*4
German El P 64a.. 5 94 94 94
German 7s 91 1064 106% 106%
Ger Gen Elec 7a.... 1 102 102 102
Greek 7a 1 964 964 964
Haiti 6a 4 1004 100 1004
Holland-Amer 85... 1 1024 1024 1024
Hungary 74s 3 100% 1004 1004
Irish Free State sa. 7 96 954 954
Italy 7a 80 974 97 974
Italian Pub S 7a.... 6 934 934 934
Japanese 4a 17 924 924 924
Japanese 64a 12 1014 1004 1014
Lyon 65.... 4 100% 100% 100%
Marseille 6a 2 1004 1004 1004
Mexico 4a 'lO aant.. 5 204 204 204
Milan 64a 12 904 89% 904
Montevideo 7s 2 103 1024 1024
Netherlands 6a 72.. 2 107% 1074 107%
New So Wales 57a.. 28 944 93% 944
New So Wales 51a.. 6 94 934 934
Nord 64s 21 1044 1034 1034
Norway 5s 196*.... 7 96% 9«4 96%
Norway 54s 5 100 99% 99%
Norway 6s 194*.... 12 1024 1024 1024
Norway 6s 1944.... 9 1024 1024 1024
Norway 64« 1952.. 20 1034 103 103
Orient Dev 54* '57. 15 88 874 874
Paris-X.y-Med 65... 13 1004 100 100
Paria-Ly-Med 7a... 5 104 104 104
Paris Orleans 64a. 1 95% 95% 95%
Peru 6s 67 w 1 18 88 874 874
Peru 6s ctfa 35 88 86% 874
Peru 7a 6 1024 102 1024
Pirelli 7s ’52 25 1394 1384 1384
Poland 6s 40 5 814 814 814
Poland 7s treta)... 11 874 874 874
Poland 8s 14 98 97% 97%
Prague 74s 3 106% 106% 106%
Queensland 7a..... 2 111% 111% 111%
Rhine Wat EP ls'62 2 87% 87% 87%
Rhine Wat EP 6a’sl 3 934 93 93
Rhine Wat EP 7a’6o 2 100 100 100
Rio de Janeiro 64a 17 944 934 944
Rio de Jan 8a 1946.. 1 1054 1054 105*4
P.loGr Do Sul 85... 3 1054 1054 1054
Rome 64* 7 91 904 904
Sao Paulo 8s 1936.. 2 1054 1054 1054
Sao Paulo 1950 27 106 106 106
Saxon (PW) 7a.... 9 99% 99% 994
Seine 7s 42 20 106% 106 106
SerbsCr Slav 75... 14 804 80 804
SerbsCrot Slots... 6 94 93 94
Shinyetau 64s 52.. 4 90 90 90
Sweden 6e 12 102 102 102
Swiss 54s 1946.... 9 102% 102% 102%
SwlssConfed 85.... 6 110 108% 108%
Toho E! Pow 7a.... 4 994 99 994
Toklo 6s 4 78 774 774
Tokio 54s 1961.... 6 874 874 874
Utd Klngm 64s 29 . 2 994 994 994
Utd Klngm 54* 27. 3 103% 103% 108%
Utd SteamCopen 6s 1 984 984 984
Uruguay 8s 2 108% 108% 108%
Vienna 6a ’52 .11 874 87% 874
Yokohama 6s w 1... 2 944 944 944
MISCELLANEOUS.
AbramAStraus 54* 5 114 113 114
Ajax Rubber 8s 3 1034 103 103
Alleghany ev 5a wl. 87 103 1024 102%
AmAgriChem 7 4a. 3 106% 105 103%
Am Chain 65'33.... 6 974 97 974
Am Cotton 011 55... 6 984 984 984
Am Int Cor 545'49 86 106 1054 106%
Am NatGaa 6 4 *'42 1 91 91 91
Ah Smlt & R Ist S*. 27 1004 1004 1004
Am Sugar Ref 65... 1 104 104 104
Am TATcI tr 4a.. 47 99% 99% 99%
Am TAT cl tr 6a.. 13 103% 103% 103%
Am TAT at 65.... 34 104% 1034 104%
Am Tel A Tel 64*. 14 1064 106 106
Am Water Wks 6a. 23 974 97% 974
Anaconda lat 6a... 52 105 104% 105
Anaconda cv db 7a. 165 2054 199 2054
ArmourACo44s 29 11 91 904 91
Armour Del 64*. •• 26 914 91 91
Atl GulfS 5s 9 69 68 68
Atlantic Refln 5a... 4 100% 100 100
Bell Tel Pa 5s 8.... 12 104% 1044 1044
Bethlehm Stl pm 5* 11 100 99% 99%
Beth Steel rs 6a.... 2 102% 1024 1024
Beth Steel 64a 52.. 12 101% 1004 101%
Bethlehem Steel 6*. 16 105 104% 104%
Bklyn Edison 65... 1 104% 104% 104%
CerUln-Tds4srcta 5 75 75 75
Chile Copper 5a.... 25 96 95% 96
Colon 011 6a'31..., 7 1094 109 109
Col Gaa&El deb 6a. 17 994 99% 994
Con Coal Md Ist 6a. 4 714 71 71
Con Gas N Y 64*. • 16 105% 105 105%
Cuba Cana cv 7a.... 5 74 74 74
Cuba Can# 8a...... 3 72 72 72
Cuban Am Bug Ba.. 4 101% 101% 101%
DetroitK(llaon6s4o. 5 1024 102 1024
Detroit Edison 6a.. 8 108 1074 1074
Dodge 6s 26 1014 101 1014
Duqueana 44a 67.. 2 994 994 994
East Cuba Sug 74a 1 90% 90% 90%
Gen Asphalt 6s 36.. 1 106 106 106
Gen Cable 5 4a'47. 1 99 99 99
Gen Mot Ac Cor 6a. 18 103 1024 102%
Goodrich 64* 4 107 107 107
Goodyear 6s rcta... 19 91% 91 91
Humble Oil 5s 38 100 994 994
Humble O A R 64*. 62 1014 101% loi%
Illinois Ball Ist »■.. 21 104% 104% 1044
Illinois Steel 44*. • 10 98% 984 98%
Indiana Steel 5a.... 6 1024 1024 1024
Inland Stl 44#'78. 3 92% 92% 92%
Inti Cement 6a 48.. 40 111% Hi m
Inti Match 6s 47... 24 974 97 97
Int Mer Marina 6a.. 29 101 101 101
Int Paper 6a 47.... 2 95% 95% 95%
Inter Paper 6s 4 934 934 934
Int Tel&Teleg 445. 45 934 93 93%
Int Tel&Tel 44» cv3Bo 114 112% 114
Kan City P& L 6a.. 1 1044 1014 1044
Kan G A E 6* 52.... 3 1054 1054 1064
Laclede 5s 1 100 100 100
Laclede Q 5 4* 62.. 7 1044 103V* 1044
Llggel&Myerasa6l. 6 1004 100% 100%
Loew’a Inc 6a 2 118 118 U 8
Loew’s 6a w o war. 7 99% 98% 98%
Lori I lard 5a 11 66 86 86
Lorlllardo4s 2 87% 87% 87%
Lorlllard (P) 7a... 5 109 109 109
ManatlSug at 74a. 11 100 100 100
Mid-Con 64*40... 10 105 105 105
Midvale Steel 5a... 3 99% 99% 99%
Mont Pow 6a 48.... 3 102% 102% 102%
Mont Power deb sa. 16 994 99% 99%
Nat Dairy 5>4a.... 39 954 95 95
NawEnglandTel sa. 7 106% 106% 106%
N Y Edison 6 4*. •• 3 114% 114 114%
NYGELHAP6S 6 106% 106% 106%
NY Tel 44* 10 99% 99% 99%
N Y Tel 6a 41...... 36 106% 106 106
No Am Ed 54a '6B. 81 1014 100% 1014
Hot PiUP f 108 1024 10*
Biles. High. Low. Close.
Nor States Pow ss. 3 100* 100* 100*
Pacific Gas* El 6s. 10 100* 100'* 100*
PacT AT Ist 55.... 2 102* 102* 102*
Pan-Amer Pete 75.. 1 104* 104* 104*
Paramount Ss 1947. 16 100 99* 100
Paths Exchange 7s. 3 79* 79* 79*
People a Gas 65.... 7 105* 105* 105*
Phlla Co 6s <7 w 1. . 52 9S* 98* 98*
PhilaAßeadCAl 6s. 1 93* 93* 93*
Philips Petro 6*s.. 19 91* 91* 91*
Por Rlc Am Tob 6s. 12 103 102* 103
Postal Tel A C 6Hs. 39 93 92* 92*
Pressd Steel Car 6s 4 94* 94* 94*
Public Service 4 *B. 5 187 187 187
Punta Alegre 75.... 3 85 85 85
RemingtonAr (s S 2. 5 99 99 99
Rem Rnd 6*s war. 26 94* 94* 94* ;
Simms Petm 65'26. 7 100 100 100
Sinclair 011 6a 36 99* 99* 99*
Sinclair Oil 6*5... 16 100* 100* 100*
Sinclair Oil 7s 14 103* 103 103*
Sinclair Crude s*s. 9 96* 96* 96*
Sin Pipe Line 65. .. 4 93* 93* 93*
Skelly Oil s*s 3 92* 92* 92*
Southw est Bell 65. . 2 104* 104* 104*
Stand Oil N .15» 46. 28 101* 101* 101* '
Stand Oil N T 4*B. 13 96* 96* 96*
TennElecPow 6s 47 4 106* 106* 106*
Transcontl Oil 6*s 16 100 99* 99*
United Drug 6s 66.. 17 95* 95 95*
U 8 Rub Ist rs 65... 39 91* 90* 90*
U S Steel sf 6s 29 108 108 108
Utilities Powr 6 *s. 7 95* 95 95*
Vertientes Sua 75.. 1 93* 93* 93*
Walworth 65 '45... 1 92 92 92
Walworth 6 *s'3s. 1 96 96 96
Warner Sue 7s 41.. 1 106 106 106
West Eleo 6s 16 103* 102* 102*
Westn Union 6s 61. 2 101* 101* 101*
Westn Union 6*s.. 8 109* 108* 109*
Westinahouse 55... 1 101* 104* 104*
Whit# Eagle 0 6*s 15 101 100* 100*
Wlllys-Ov 6*B 33.. 2 101* 101 101
Wilson ACo Ist 6s. 8 102* 102* 102*
WmßepeatAr 7 *s. 1 107* 107* 107* j
Tngstn SAT 6s wl. 12 100* 100* 100* j
RAILROAD.
Atchison gen 45. ... 78 91* 90* 90* j
BAOcv4*s 3 98* 98* 98*
BAO ref 6s 10 100* 100 100 1
BAO 5s 2000 D.... 5 101* 101* 101*
B AOrf Imp 65.... 5 109 108* 109
BAOPLKWYfS.. 16 93* 93* 93*
H A O SW5s 60 10 102 101* 102
Boston A Maine 6s. 4 96* 96 96
BrdwayATth Av 6s. 5 75 73 75
Brooklyn Eleo 6 *s. 27 92* 92* 92* ,
Bklyn Manhat 6e... 64 98* 97* 98 !
Buff K A Pitt 4 *e.. 1 91* 91* 91*
Can Nat 4*S 30.... 6 99* 99* 99*
Can Nat 4*e 54.... 1 95 95 95
CanNat4*e 67.... 8 95* 95 95*
Canad North 75.... 1 110* HO* 110*
Canad Pac deb 45.. 21 85 84* 84*
Can Pae 4*s 46.... 10 96* 96* 96*
Canada South 65... 6 103* 103* 103*
Car Clinch A O 55.. 10 100 100 100
Central Paclflo «s.. 24 91 91 91
Cent Pac Ist 5s SO.. 24 102* 102 102*
Chess Corp 6s w 1.. 138 100 99* 100
Ches AO gn 4*8... 13 96* 96* 96*
Cnes AO cv 4*5... 10 99* 99* 99*
Chi BAQ sen 4s 6S. 32 91* 90* 90*
CBAQ4*s77B.. 14 98 9s 98
Chi BAQ Ist rs ss. 1 103* 103* 103*
Chi&E 111 gn 6s 51.. 14 82 81* 81*
Chi Gt West 4s 59.. 8 67* 67* 67*
Chi MAStP 4*B E. 8 93* 93* 93*
ChIMUSPAPac&sTS 125 92* 92 92*
CMSPAPacadJ6sO3.IIS 78 77* 77*
Chi NW 4*S 2037.. 5 96 96 96
Chi ANW ref 5a... 3 103 103 103 j
Chi Rys 6s 17 79 78* 79 i
Chi RIA Pgn 45.. 13 88* 87* 87*
Chi RIA Prs 45... 22 94* 94 94
CR I Pac 4*s w 1.. 14 92* 91* 92 j
ChIStPMAO 6s '30.. 9 100* 100* 100* ,
Chi THA S E 55... 1 99 99 99 1
Chi T H inc 6s 60... 6 91* 91* 91*
Chi Un Sta 4*5.... 8 99* 98* 98*
Chi Union Sta 6*s. 7 116*115*115*
CAVV I s*s 63 10 102 101* 102 ;
CCCAStL 4*sE 77 1 95* 95* 95*
CCCAStLrf 6s A. 1 100 100 100 ,
CCCAStL deb 4*s. 2 98* 98* 98* ,
Clev Term 6s 10 104* 101* 104* ,
Colo A Sou 4*5.... 2 96* 96* 96*
Cuba RR 6s 4 93* 93* 93*
Cuba RR 7*B 1 102* 102* 102*
CubaNors*scts.. 3 56* 86 86* ,
Del A Hud Ist rs Is 2 92* 92* 92*
Den A Rio Gon 45.. 30 90* 89* 89*
DenAßloG 4*s 36. 15 92* 92 92
D Ulo G West 65. .. 14 96* 96* 96*
DR G A Wat 6s '7l 2 90* 90 90
Des M A FtD 4s cfs 1 30 30 30
Det United 4*5.... 6 97* 97 97
Erie Ist cons 48.... 1 84* 84* 84*
Erls Gen 4s 6 77* 77 77
Eriecvt 5s 67 w 1... 80 94* 94* 91*
Erie (Pa) clt tr 45.. 1 101* 101* 101*
Fla East C6s 74... 39 76 75* 75*
Fonda JAG 4*s’s3. 10 38V t 37* 37*
Gt Nor 4*s 76 D... 5 94 94 91
Grt Northn 4*s K.. 4 94* 94* 94*
Grsat Nor gen 75... 18 110* 110* 110*
Hay El Ry 6*B 51.. 4 64* 64* 61*
Hud A Man s] 65... 14 81* 80* 80*
Hud A Man ref 65.. 3 96 95* 96
111 Cent 4s 53 6 86 85* 86
HI Cant 4*s 66. ... 8 98* 98* 98*
111 Cent Chi 4*5... 12 95 95 95
111-C-C-StLANO &s. 1 101* 101* 101*
Int Rapid Tran 5a.. 33 79 78* 79
Int RapTr 6s stpd. 62 79* 78* 79*
Int Rapid Tran 65.. 13 81* 81 81*
Int Rap Trans 7a... 9 98* 98* 98*
Int A G Nor Ist 6s. 5 105* 105 105
IntAdtNor adj 6s 63 16 92* 91* 92*
Int Ry C A 6*s - t. 4 96* 96* 96*
Kan City Terrr i. . 7 87* 87* 87*
Laks Shors 4s »i... 13 98 97* 97*
Lehigh Val cn is... 1 84* 84* 84*
LoulsANnsh uni 4s. I 96 95 95
Louis A Nash Kn B. 3 103* 103* 103*
Louis A Nash 6 *s. 5 105 105 105
Louts A Nash 7a... 1 102 102 102
Man Ry Ist 4s 90... 8 66* 66* 66*
Market St 7s 40.... 5 88 86* 87
Mil El Ry AL6s 61 2 101 100* 100*
Minn A StL ref 45.. 10 27* 27 27
MSt PASSM cn 48. 40 88* 88* 88*
M StPASSM cn 65. . 5 91* 91* 94* -
MStPASSM6s3Bgtd 5 99 99 99
M StP A 3SM 6*s.. 2 99* 99* 99* 1
MK AT Ist 4a 2 84* 84* 84* 1
MKATadJSs 7 105 104* 104* 1
MKATprlnfisA. 74 99* 99* 99*
Mo Paclflo gen 45... 10 75 73* 73*
Mo Pac 5a A65 1 98* 98* 98*
Mo Pao 6a F 77.... 24 97 96 97
Mo Pacific 6s G '7». 24 97* 96* 97*
New Or Term 45... I 89* 89* 89*
NYCentrf6s 7 106* 106* 106*
N T Cent deb 65.... 1 105* 105* 105*
N Y CentLS cl 3*s. 4 76* 76* 74*
NYCrf lm 4*8... 3 100 100 100
NY CAStL 4*s C.. 47 94* 94* 94*
NYChIAStL 6*sA. 11 106* 106 106*
NYCAStL6sA.. .4 101* 101* 101*
New Haven 3*s 64. 3 74* 73 73
N YNH A H 4*8.. 2 90 89* 90
NY NHAH cv db (s. 2 119 119 119
NY N'HAU clt 65... 4 104* 104* 104*
N Y Ont W Ist 45... 2 67* 67* 67*
NY Rys 6s 65 60 21* 20 21
N Y Rys 6s A 65.... 1 85* 85* 85*
N Y Stats Ry 4 *B.. 6 49 48* 49
NYW4BIHI.iI. 2 80* 80 80
Nor Pac 3s 2047.... 2 65* 65* 65*
Northern Pacific 4s. 15 89* 88* 89*
' Nor Pac 4*s 2047.. 3 97* 97* 97*
Northern Pao 5s D. 6 103 103 103
Ore Short L rfs 4s. 15 98* 98* 98*
Ore Short L6s gtd.. 1 106* 105* 105*
, Ore Wash Ist 45... 5 86 86 86
Pennsyl gen 4*s.. 25 99* 98* 98*
Penna R R 4*s'63. 27 99* 98* 98*
Pennsyl gen 65.... 1 107* 107* 107*
Pennsyl 6s 64 11 102* 102* 102*
‘ Pennsyl <*s 88 110* 110* UO*
1 Pennsyl gold 75.... 44 102 101* 101*
' Philippine RR 45.. 2 36 36 86
' PC CAStL 6s A.. 1 106* 106* 106*
1 PCCAStL 5s B 75... 6 IC7 107 107
Port RLAP 7*s 46. 3 107* 107* 107*
Rsadlng gen 4*B A 3 97* 97* 97*
R1 Ark AL4H>... 3 95 94* 95
1 St LIMAS is 29... 32 99* 99* 99*
, StL IMAS gn 5s 31. 22 100'* 100* 100*
St LASF pi 4s A.. 22 86 85* 86
, St LAS Fr 4*S 78. 39 87* 87* 87*
, St LASF pr In 6s. 8 99* 99* 99*
StLS W Ist 45.... 6 88* 88* B#v«
St LS W con is 32. 1 96* 96* 96*
StL A Sown 5s '62.. 1 101 101 101
St P Un L»ep 6s I 102* 102* 102*
San A A Arn P 45... 6 89* 89 89*
Seaboard A L 15... 2 73 73 73
Seab ALrsf «a.... 1 60 60 60
SeabALadJ 6s 1849. 13 42 42 42
Seab A Leon 8a.... 19 7o* 75 75
S B All Fla 6s 38 A. 6 65* 65 65
Sou Pac 4s 29 14 99* 99* 99*
Sou Paclflo ref 45.. 5 91* 91* 91*
Sou Pac 4*s rets.. 28 95* 96 95
' Sou Ry Con 5s 11 108* 108* 108*
Sou Ry 8s 56 6 112 112 112
Sou Ry <*s 1 118* 118* 118*
! Tex A Pac 6s B 1977 3 100 100 100
, Third Ave ad) is... 41 63* 62 63*
Tol Tr LAP 6* s 80. 2 100 100 100
, UlstrADel 6s'2B sta 1 77 77 77
* 91* 93* 93*
STOCK PRICE INDEX
REGISTERS LOSSES
Three Per Cent Drop Noted
in List—Coppers Show
Three-Point Gain.
Special Dispatch to The Star.
NEW HAVEN, Conn., February 18.—
Stock prices on the New York Exchange
turned about for a 3 per cent fall last
week. With the sole exception of a 3-
point average gain In coppers, all
groups shared In the reversal.
Declines were shared uniformly by
auto accessories, motors and stores, as
also by oils. a.eels and foods. Ralls
and public utilities shared in the gen
eral price decline, while preferred stocks
passively receded a fraction of a point.
The market leaders showed a per
centage of decline about equivalent to
that of all stocks.
The compact survey of New York
Stock Exchange movements of common
industrial shares Is given below in price
indexes (1926=100) for all shares out
standing and for the week’s 50 most
active stocks. The last column of the
table gives the rate, of return on the
week’s 50 leaders at current prices.
Shares 50 Market Rate of
Outstdg. Leaders. Return.
Week ended —
February 15 ... 181.1 737.5 3 2%
February 8 1865 758.4 2.8%
February 1. ... 185.5 751.4 2.8%
Year ago 129.3 269.0 3 6%
January average.. 181.6 717.0 2.7%
December average 171.3 636.4 2.7%
November average 172.1 608.3 2.7%
October average.. 181.3 527.4 2 8%
1928 average 147.4 407 5 3 1%
1927 average 114,6 175.4 4.3%
1926 average 100 0 100.0 5.0%
High ('26-'29) 186 5 758.4 65%
(F-'b '29) (Feh. 29) (July'?6)
Low C26-'29) 88.2 75.6 2.4%
(Apr.’26) (Apr.'2B) (Jan.’29)
Market Shows Little Favor.
Aside from the leniency of the market i
toward semi-investment Issues, which
suffered least, common industrial stock
prices declined quit* uniformly In all
grades. The downward readjustment of
speculative values was as great as that
in investment issues.
This lack of quality discrimination
may be attributable to general indeci
sion or to unwillingness of speculators
generally to dispose of their holdings
at the lower quotations which pre
vailed last week. If so. the result is an
indication of underlying confidence in
the near-term future.
Below are shown index numbers for
prices of three groups of stocks traded
on the New York Stock Exchange,
graded in accordance with their season
ing dividend history, credit strength,
and size.
First Second Third
grade grade grade
(invest- (Inter- (specu
(l926 = 100) ment). mediate), lative)
Week ended—
February 15 184 7 166 5 178 7
February 8 190 3 170.8 184.1
February 1 189 2 189.8 181 0
Year ago 132 9 116 5 117.9
January average.. 184.7 166.6 180.5
Dec. average 174.1 158.3 189.5
Nov. average 174.9 181.1 164.8
October average... 165.0 1*9.5 1*6.1
1928 average 151.8 132.0 134 3
1927 average 116.8 109.3 102.5
1926 average iOO 0 100.0 100.0
High C26-’29),.... 190 3 170.6 184.1
(Feb.'29) (Feb.’29) (Feb. 39)
Low C2B-'29) 92 1 95 3 93.8
(Apr.'26) (Apr.'26) (May 28)
Many Holding Their Stocks.
Last week’s activity on the New York
Stock Exchange again revealed the re
luctance of the market to speed a de
cline in prices. Trading In common In
dustrials fell off on the whole to an
average daily value of $276,900,000 from
$305,200,000 for the previous week.
Trading was mixed, however. Rises
in coppers, steels, automobile acces
sories and oils were overbalanced by
falls In stores, foods, motors and mis
cellaneous stocks. ASO per cent cut
was experienced by rails. While utili
ties strengthened, preferreds declined in
favor.
Increased activity was noted partic
ularly in Anaconda, Electric Auto Lite
and Sinclair, while diminished activity
was experienced by Hahn, Borden,
Chrysler and General Motors.
Appearances of spectacular exchang
ing of shares during sharp rises or falls
were missing.
(Copyright. 1929.1
(Copyright, 1929, by Irving Fishsr.)
" •
B. & 0. REPORT.
BALTIMORE, February 18 (Special).
—The preliminary report of the Balti
more At Ohio Railroad for the year
ended December 31. 1928, shows net
Income of ,$29,100,930, after taxes and
charges, equivalent, after deducting 4
per cent preferred dividend require
ments. to $12.43 a share earned on
2,151,878 shares of common stock. This
compares with $22,632,345, or $9.42 a
share, in 1927.
The preliminary income account for
1928, compared with 1927, is as follows:
Gross, 1928, $236,818,681: 1927, $246,-
078,510; expenses, $172,550,868, $186,-
168,521; tax, etc., $14,880,097, $15,092,-
762: net operating income, $49,387,716,
$44,817,227; other Income, $7,378,325,
$8,570,687; total income, $56,766,041,
$53,387,014; Interests, rents, etc., $27,-
665,111, $30,755,569; net income, $29,-
100,930, $22,632,345: preferred dividends,
$2,354,528, $2,354,528; common divi
dends, $12,911,275, $10,964,941; surplus,
$13.835,127, $9,313.326.
Sales. High. Low. Close.
Union Pacific 4s 68. 1 86 86 88
Union Pao Ist rs 4s. 2 88* 88* 88*
Union Pao 4*s 67.. 72 97* 97* 97*
Virginia Ry Ist 65.. 19 104* K)3* 104*
Va Ry A P 55...... 3 100 99* 99*
Wabash 2d 5s » 1 100 100 100
Wbash 4*s 7* rets. 4 87* 87* 87*
West Maryland 45.. 1 80 * 80* 80*
Western Md 6*i... 2 98* 99* 98*
Western Pacific ss. 7 98* 98* 98*
Wilks-B AEI Ist 6s 5 72 72 72
A 7%
Short-Term
Income Producer
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TheEßSmithCo.
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Smith Bldg., Washington, D. C.
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Brtnck nftet-t to Other Cities
Naai
Address
. Occupation 24-1
Sbsss'
Money and Prices
Special Dispatch to The Star.
NEW HAVEN, Conn.. February 18.—
The downward tendency which has
characterized commodity prices during
1929 was rather sharply reversed last i
week, resulting in more than a half
cent decrease in the purchasing power I
of the dollar on the 1926 base. <
European commodity prices also ]
showed a strengthening movement. It i
is interesting to note that price levels
in the United States and Europe re- i
main very close to the January level i
and about 1 per cent under the average i
ievel of 1928.
Fluctuations in the general wholesale i
price level and In the purchasing power <
of the dollar are given below for the 1
United States for various periods, based ;
mainly on Dun’s quotations. The ave- i
ragfe for the year 1926 Is the base used, i
Whole- Purchasing
sale power; cts.
price departure ,
, , index, from 1926.
Week ended—
February 15 97 6 j 2 4
February 8 97.1 +3O
February 8 97.7 -24
Year ago 96 8 +3.3 1
January average 97.4 +2.6'
December average 97 9 +3.1 | .
November average 97,5 +2 6
October average 98.8 +1.2
1928 average 98 2 +l.B
1927 average 94.2 +6.2
1926 average 100.0 0 0
overage 105.2 —4.9 '
1924 average 98 9 +l.l ,
1923 average 101.1 —l.l
Foreign Commodity Prices.
Cable reports from abroad indicate 1
the following European wholesale move
ments:
(1926 100) England. France. Italy.
Week ended -
February 15 92.9 91.8 .... i
February 8 92.8 91 5 75 8
February 1 93.0 91.7 75 8
Year ago 92.9 87.2 74.9
Janusry average... 93.0 91.3 75 9 ,
December average.. 93.0 51.3 76.0
November average. .92.4 91.1 75.8 I
October average?... 92.2 90.9 75.2 .
1928 average 93 8 90 2 76.2 ,
1927 average 95. S 93 8 80.5 ■
1926 average 100.0 100.0 100.0
(Copyright, 1929, by Irving Fisher.) I
TREASURY CERTIFICATES.
(Reported by J. & W. Seligman & Co.)
Rate— Maturity Bid. Offer
3;’«l Mar. 15. 1929 99 27-32 99 31-32
3 »s Mar. 15. 1928 99 30-32 100
4** June 15. 1929 100 100 2-32
4*s Sept. 15. 1929 100 1-32 100 3-32
4*s Sept. 15. 1929 99 22-32 99 24-32
4*«s Dec. 15, 1929 99 22-32 99 24-32
3*S Mar. 15. 1932 96 20-32 96 26-32
S*s Sept. 15, 1932 96 20-32 96 26-32
S'is Dec. 15, 1932 96 20-32 98 26-32
SHORT-TERM SECURITIES.
(Reported bv J. A W. Seligman Ac Co.)
.... . Bid. Offer.
Allts-Chalmers Co. 5s 1937 ... 99* 99*
Aluminum Co. Amcr. 5s 1952 .. 100'+ 101
American Tel. Sc Tel. 4s 1929. 99* 99*
Anaconda Cop. Mining 6s 1953. 104* 105*
Balto. St Ohio 4*a 1933 98* 93*
Batavian Pet. Corp 4*s 1942.. 92* 93*
Bell Tel of Canada 5s 1955... 101* 102
California Pet. Corp. s*s 1938 102* 103
Canadian Nat. Rvy. 4*2* 1930. 99* 99*
Canadian Nor. Rwy. 4*s 1935 98* 99*
Chesa, Sc Ohio Rwy. 4*s 1930. 99 99*
Chicago Rock Island 4s 1934.. 94 94 *
Chile Copper Co. 5s 1947 95* 96
Columbia Gas & Elec 5s 1952.. 99* 100
Cudahy Packing Co. s*s 1937. 98 99
Edison El. 11. Boston 4*s 1930 98* 99*
Gen. Mot. Acccp. Corp. 6s 1937 102* 103*
General Pet. Corp. 5s 1940 100'a 101*
Goodyear T Sc R. 5s 1957 91* 92*
Grand Trunk Canada 6s 1938. 105* 105*
Gulf OU of Pa. 5s 1937 99* 190
Humble Oil s*s 1932 101* 191*
Internat. Match Corp. 5s 1947 97', 97*
Oregon Short Line 4s 1929.... 98* 99*
Pure OH Corp. s*s 1937 98 * 99
Shell Union OU Co. 5s 1947... 96*« 97
Sinclair Crude OU s*s 1938.. 96* 97*
Southern Pac. R. R. Co, 4s 1929 99* 99*
Standard Oil N. Jersey 5s 1946. 101* 101
St. L., Ir. Mt. A So. Ry. 4s 1929 99'. 99*
St. L., Sou'western Ry. 4s 1932 93* 96'«
Swift Sc Co. 5s 1932 99* 100*
Union OU Co. of Calif. 5s 1935 98 99
United Drug Co. 5s 1953 94* 95*
Western Electric Co. 5s 1944.. 102* 103*
Wheeling Steel Corp. s*s 1948. 100* 101*
THE IDEAL INVESTMENT
Standard Collateral Trusteed
Common Stock Shares
A TRUSTEED INTEREST In 100
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l S 12.75 per share) and of 5.82% for
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FINANCIAL/
ELECTRIC CURRENT
DEMAND INCREASES
BT J. C. BOYLE.
Special Dispatch to The Star.
NEW YORK, February 18.—The elec
tric light and power companies will
spend at least $950,000,000 in 1929 In
providing for the increased demand for
current.
Sale of power today Is progressing at
a rate higher than has ever been
reached before in history. The output
is fully 12 per cent higher than at this
time last year and there is every indi
cation it will go still higher as Spring
opens up new activities. The sums to
be expended are in the ratio of about
seven parts for transmission and dis
tribution facilities and three parts for
central station construction and equip
ment.
The gas industry is equally prosperous.
The sale of gas to consumers in 1928
gained 4 per cent as compared with
1927 and the gain since January 1, as
compared with a year ago. is well above
5 per cent. The gas companies have
programs which will involve expenditure
for expansions and betterment of about
$100,000,000.
It must be remembered in the case
of both the electric light and gas in
dustries that plant expansion in reality
has not been so extensive as appears on
the surface. Many plants which ten or
even five years ago were producing ac
tively now are in the obsolete class.
They are not operated regularly and
these not strapped are being held for
reserves in case of damage or disaster
to the most economically and effective
ly operated new units. These new
units have improved wonderfully in
efficiency and profits have been aided
by low fuel costs and utilization of more
energy from fuel than was thought pos
sible a few years ago.
It now looks as though total produc
tion of current for 1929 would approx
imate 99.700,000,000 kilowatt hours, as
compared with 87.900,000,000 kilowatt
hours in 1923. It is also forecast that
the public utility companies which now
have over ten billions of dollars invest
ed. will offer approximately $1,750,000,-
000 in securities to the public this year
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;
Farm Buying Power :
Special Dispatch to Tho Star.
NEW HAVEN, Conn., February 11.
Last week's commodity fluctuations left
the farmer’s dollar fractionally stronger
in purchasing power.
Potatoes, steers and milk were the
more important agricultural products
to weaken in price, but these declines
were more than offset by numerous in*
creases in prices, including such im*
portant items as hogs, lambs, hay, sev*
eral grains, cotton and eggs.
Index numbers of farm purchasing
power and of agricultural and non-ag
ricultural prices for various periods are
given in the following table in which
the average for 1926 represents 100:
Farm Agrieul- Non-Ag
„ , purchasing tural rlcultursl
Weak ended— power. pricei. pile**.
February 15... 103.8 99.9 96.5
February 8.... IMS 99 5 98.1
February 1 104 1 100.3 98.4 -
Year ago 104 4 99.8 98.4
January average 100 5 98.0 975
Dec. average.... 99 2 96.8 97.8
Nov. average 101 1 98.3 97.8
October average. 107 9 104.0 96.4
1938 110.0 105 0 95.5
1927 105 7 100.0 94.6
1928 100 0 100 0 100.0
(Copyright, 1929, by Irving Flaher.)
< First Mortgaged
Money yf
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■■ I I ■■■ ill .III! II II! g
15

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Evening star. [volume], February 18, 1929, Page 15, Image 15
About Evening star. [volume] (Washington, D.C.) 1854-1972