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14 TREASURY FINANCE PLAN ANNOUNCED Secretary Mellon Gives De tails of Treasury Offer ing March 15. BY EDWARD C. STONE. Secretary Mellon today announced an offering of $475,000,000 of United States Treasury certificates of indebtedness, carrying per cent interest and ma turing December 15 next, as the Gov ernment’s plan for Spring financing. The certificates m ill be dated March 15 and the amount of the offering is m accepted as indi- ML. eating that the Wm Government ex- In .sjgr poets large Income tax payments in Wtf* %■. the first install- ment of the 1928 taxes due on the same day. Two of Treasury certificates aggre- Jm gating $559.831.000 ■ mature on March 15. Robert C. Jones. Secretary Mel lon's announcement said that the new offering of certificates, together with tax receipts and other revenues, was expected to take care of the Treasury cash requirements until next June. The certificates will be issued in denomina tions of $5OO, $l,OOO, $5,000, $lO,OOO and $lOO,OOO. Local Broker Highly Honored. Robert C. Jones, who with A. Chester Flather and Charles Carroll Morgan has been placed in charge of the local brokerage offices of G. M. P. Murphy & Co., has been identified with the local financial district for many years. He was manager of the stock department of John L. Edwards & Co. at the time of tiie death of Mr, Edwards. The busi ness was taken over by the Murphy company about three years ago and later a second office was opened on Con necticut avenue in addition to the one on H street. Mr. Jones was born and reared in Washington. During the World War he served in Prance as a captain and now holds the rank of major in the Reserve Corps. He is a member of the Army and Navy Club, Army. Navy and Marine Corps Country Club, the Na tional Press Club, Sons of the American Revolution, American Legion and Society of the Cincinnati. The latter patriotic organization was organized in Washington's day and is limited in membership to direct descendants of officers who fought in the Revolution. Mr. Jones and his associates are receiving hearty congratulations on the promotion accorded them by the New York Stock Exchange firm since the Withdrawal of Oscar Coolican. Washington Gas Sells Lower. Washington Gas Light sold on the Washington Stock Exchange today at 110% for 30 shares and 110% for 10 shares. The last previous sale in this stock was made at 117. Every sale in this issue revives the discussion among the shareholders regarding what the out-of-town interests holding large blocks of the stock may plan or hope later to do with the company, provided they eventually should gain control of the local utility affairs. At present, how ever, only normal trading in the stock , is being recorded. Lanston Monotype was strong today, 50 shares selling at 130, same as the last sale, a new all-time high. A single share of Mergenthaler Linotype changed hands at 109 Vi, ex-dividend. Peoples Drug Stores preferred reflected the fa vorable earnings report, out today, and changed hands, ex-dividend, at 121 and 122 on a light tunover. Columbia Sand & Gravel preferred figured in six transactions, opening at »4>/2 and closing at 94%, the day's sales reaching 80 shares. Railway & Electric preferred moved at 98 y 2, Federal - American Co. preferred at 102 and Ter minal Refrigerating & Warehousing ] Corporation recorded a 10-share sale at 54. Potomac Electric Power s‘/ 2 per cent preferred sold at 108%. Bond trading was confined to a $l,OOO j transfer in Capital Traction 5s at 100% and a small sale in Washington Gas 6s, ; series B, at 103‘/ 2 . Title Company Organizes. At today's organization meeting of | the Capitol Title & Guarantee Co., the directors elected John Paul Earnest, president; John H. Duncan, vice presi dent; Samuel S. Spruce, vice president: G. Baillie Springston, secretary, and Eliot H. Thomson, treasurer. Dr. W. W. Stewart of this city has been added to the board of directors, making the j fifth new name now appearing in the list. Peoples Drug Sales Climbing. Sales of Peoples Drug Stores, Inc., for February were reported today as total ing $1,068,002, against $780,156 i"i February. 1928, an increase of $287,846, or 36.8 per cent. Sales for the first two months of the present year are reported as $2,180,447, compared with $1,473,583 in the corresponding period a year ago. This is a gain of $706,864, or 47.9 per cent. Both sales totals in clude the business done by the stores most recently opened by the company. North American Co. Expanding. Expenditures totaling $23,000,000 are to be made during 1929 by the following subsidiaries of the North American Co.: Great Western Power Co., San Joaquin Light & Power Corporation and Mid land Counties Public Service Corpora tion. Extension and improvement for the electrical facilities of the Central Cali fornia territory served by the compa nies, which includes the Sacremento and San Joaquin Valleys, the San Francisco Bav region and several coast counties, will require $13,500,000 of the proposed I expenditure. Operating expenses and taxes will amount to $9,200,000. Construction of a new steam plant of the Great Western Power Co. on San Francisco Bav. started during 1928, is the main project for the coming year.! Financial District Notes. Deposits in the Riggs National Bank passed the $50,000 000 mark yesterday for the first time in the history of the bank. This total compares with the deposit report on December 31, the last call date, of $46,364,127.74. Now that William D. Hoover and Frank Stetson of the National Savings & Trust Co. are both members of the “hole-in-one” golf club, it is suggested that they play off the tie and attempt j to make a hole in half a stroke. Chairmen of the recently appointed District Bankers’ Association convention committees are now drawing up their own special committee membership which they will soon report to C. H. Pope, general chairman. It was announced in New York today that Goldman-Sachs have taken a sub stantial interest in and hereafter will be closely identified with the affairs of Insurance shares. Insurance shares trust certificates are quite widely held in Washington. W. B. Hibbs, head of the brokerage firm by that name, is passing the week at his estate in Leesburg. Va. He motored out to his old home at the close of last w’eek and a slight cold has kept him confined there since. MILL CONTRACT AWARDED. ATLANTA, Ga.. March 7 </*>).—'The general contracting firm of Batson-Cook Co. of West Point has been awarded the contract for construction of the 80.000-spindle mill and mill city for the Goodrich Tire <fc Rubber Co. near Thomaston. involving an expenditure of w ?r?r«.t*'.«y *1 500000. FINANCIAL'/ NEW YORK STOCK EXCHANGE 1 I Open. Hirh. I.ow. Close, j Abltibl Power... 45% 45% 45 45% Aoltlbt l*o pf (f ) 84% 84% 84% 84% J AbrahmftStraua 140 142 140 142 Ab&Straus pf 7. 110% 1 10% 110% 110% Adams Expl C) .. 518 540 518 540 Adams MhliS(2) 30% 3014 30% 30% Adv Rumley.... 65% 68-1* 65ti 68V* Adv Rumley pf.. 66% 69 t 6% 69 Ahumada Lead.. 3% 3% 3% 3% Ajax Rubber.... 95. 9% 9% 9% Alaska Junes... 71s 7% 7% 7% Alleghany Corp. 35 36 34V* 35% Alleghany A5 V 4 102 10214 102 10214 Allied Chem.... 284V* 288 284 287 Allied Cm pf(7). 122% 122% 122% 122% A)lls-Chalm(7). 178 178 178 178 Amerada(Z).... 3144 3144 3014 30% AmAgriculChm 1814 181* 1814 1814 ’Am Agrl Ch pf.. 64 64 6214 6214 Am Bank N(tJ). 123 124 122 123V* Am Bk N pf(3>.. 6014 601* 60V* 60% Am Beet Sugar. 16% 1614 16*4 1614 Am Bosch 55 57*4 54% 57 Am BrSh(hl.6o). 56 56 65 65 Am Brown Bov.. 2044 21% 20% 21 Am Can <t4).... 116% 118 115% 117% AmCarftFdyK). 95 95 93 95 AmCftFpf(7). 117% 117% 11714 117% Am Chain pf(7). 74 74 74 74 Am Chicle (2).., 52 52 50V* 60% Am Drug (SOc). 9V4 9% 9% 9% Am Encaus (2).. 43 43 42% 42% Ain & For Pow.. 107% 109% 106% 109% AmftForP pf (7) 108 108 107% 108 Am&For Tow 2d. 100V* 100% 100% 100% AmHawaSS(l). 29% 30 28% 28% Am Home Pri 3) . 78 78 78 78 Am Ice (t 2%).. 40% 40% 40% 40% Am InternatlC) 64% 65% 63% 65% Am LaFr&Foam 77 6% 6% Am LocomottS). 106% 107% 106% 107% Am Loce ;rf<7).. 116 116 116 116 Am Ma& Fy(4). 179 179 178 178 Am MetalaiSl... 66 69% 66 69% Am Metal (rts). 2% 2% 2% 2% Am Metals pf(6) 120 120 120 120 Am PA I. (111.. 105 108% 105 107 Am P&Lt A (3). 76% 77 76% 77 AmP&Lpf sta 6. 81% 81% 81% 81% AmPo&Lt pf(s)J 103 103 103 103 Am Radlator(s) 185 185 180 181% Am Rad pf<7) 179 179 179 179 Am Hy Ex< 6)... 161% 156 151 156 Am Republics... 47% 47% 47% 47% Am Saf Rastta). 68V* 69% 68V* 691* Am Seating!3).. 34 34 34 34 Am Ship & Com.. 6 ,5 5 5 Am ShiphldgiB). 88 88 87% 87% Am Sm&Ref(4)> 114% 116 113% 115% Am Snuff (12).., 1994* 199% 199 199 Am S & R pf(7). 1334, 135% 135*4 13544 Am Stl Fdys(3). 68V* 69% 67V, 69% Am Stl Fy pf(7). 112 112 112 112 AmSugar 81% 81% 81 81 Am Sugar pf(7). 109 109 108% 108% Am Sumatra(l). 53% 63% 49 49 Am Tel ft Ca(6). 22 25 22 25 Am Tel ft Tei(9) 213 213% 211 213% Am Tobacco(s).. 171% 173 171% 173 Am Tobac B(l).. 173 173 173 173 Am Tob pf(«)... 120% 120% 120 VA 120% Am TypeFotS).. 150 151 150 151 Am Type pf(7).. 110 110 110 110 AmWWftEl(cl). 86',4 88 86 88 Am Woolen 20% 20% 20V4 20% Am Woolen pf.. 46V, 46% 45% 45% Am Writ Pa ctfa 12 12 12 12 AmWritF pf(3). 43% 43% 43% 43% [ Am Zinc 39% 41% 39% 41% , Anaconda (7)... 156 159% 15444 158% . Anchor Cap 2.40. 68% 68% 67% 57% , Anchor Cap(rts) l 1% i 1% Anchor pf (6%). 119% 119% 119% 119% ( Andes Copr (8).. 61% 63% 61% 62% Archer Dan (4).. 44% 44% 42% 42% Armour Del pf 7 92 92 91 91 Armour 111(A).. 1444 15% 1444 15% , Armour 111(B).. 7% 8 74* 74* . Armour 111 pf<7) 82% 82% 82 82% , Arnold Con ft Co 30% 30% 30 30 , Artloom pf<7).. 98% 98% 98% 98% ( Art Metal(lH). 30% 30% 30% 30% , AssoDryG(2%). 64 64 614* 63% , Asso Oil(2) 44 44 44 44 , A'chtsoiHlO)... 200% 201 200% 201 Atchison pfts).. 103% 103% 103 103 . Atl Gulf ft W].. 40 40 40 40 , Atlan Ref(tl%) 5444 5644 54% 55% , AtlaaPowdertt). 99 99 99 99 ( Austln-Nlchols. 644 644 6% 644 < Auto Salsa 24 24 24 24 ( Auto Sales pf(J) 37 37 37 37 , Autostrap A (S). 4644 47 4644 47 ( Bald Loco pf (7). 117 117 117 117 1 Bxltoft 0(0.... 130 132 129% 132 Bambgr pf(CVi). 108% 108% 108% 108% Bang ft Ar(l%). 67% 68% 67% 68% ' Barker Bros<2). 29% 29% 294* 29% 1 Barker pf<6%). 97 97 97 97 ' Barnsdall A (2). 38% 39% 38% 39% < BayukCgra (2). 101% 102 101% 102 ' Bayuk Ist pf(7). 106 106 106 106 < Beacon Oil 22% 23 22% 22% < Belding-Hemwy 18% 13% 13 13 < Belg N R pf(tf). 82% 82% 82 82% < Best ft C0d).... 85% 864* 84% 85 < Bethlehm Stl(4) 98% 100% 98 100% < Beth Steel pf (7) 120 V, 120% 120% 120% | Bioomingdale... 48% 48% 48% 48% i Blmingdle pf(7) 110 110 110 110 i Borden Mllkl*). 183 183% 182% 183% i Brlgga MfgFCo. 47% 48% 47 484. , British Emp Ist. 86% 36% 36% 36% | British Bmp 2d.. 8% 8% 84, 8% ] Brockwy Mot(4) 60 60 <0 61 Bklyn-Man(4).. 74 75% 74 75% j BklynUnGas(S). 177 177 177 177 i BrownShoe(2 %) 41 41 41 41 | Brunswick B(3) 49 50 48% 50 ] Brunswick Ter.. 33% 34 33% 34 j Bucyrus(l) 37% 37% 36% 37 i Buff&Sus pf(4)«. 65 65 65 65 Burns Brosfß).. 3144 31% 3144 3144 ] Burroughs (t 5). 272V* 273 272V* 273 ] Bush Term tg2). 724* 73 72 72 | Bush Ter de<7). 109% 109% 109% 109% Butte Cop ft Zino 8% 8% 8% BV4 Butteft Sup(2). 10% 10% 10V* 10% . Butterick C 0.... 31% 32 304* 32 Bjrer ft Co 147 150 147 150 Byer ft Co pf(7) . 115 116 115 115 Calif Pack!*)?.. 76% 75% 75% 75% Callahan Zinc... 3% 3% 3% 3% Calu ft Aria <«). 132% 135% 13244 134% Cal ft Hecla(4).. 55% 56% 55% 56% Can Dry (t 4%). 81 82% 80% 82% Can Pacific(lo). 248% 249 246 247% Canon Mills 2.80. 43% 43% 43 43 Caro ClinftO(4). 92% 92% 92% 92% Case Threshg«6) 470 470 470 470 Case Thr pf<7).. 125 125 125 125 Cavanah Dobbs. 38 38 37 38 CelotexCo <s).. 68 68% 67% 68% Celotex (rights). % % % % Cen Aguirre(2). 40% 40% 40% 40% Cent Alloy« 2).. 46% 47% 46 47% Cen Ry NJ(tl2). 325 325 325 325 Century Rib M.. 17 17 17 17 Century Rps (7) . 78 78 78 78 Cerro de Pan(S). 110% 112% 110 112 Certam-teed Pro 22% 22% 22% 22% Chandler-CI pf.. 36 36 36 36 Ches ft Ohio! 10) 220 221'/* 219% 221 Cft O Corpn(S). 84% 85% 84V, 84% Chi ft Alton 16% 17 16'., 16% Chi ft Alton pf.. 22% 23 22V* 23 Chi ft East 111 pf 62% 62% 62% 62% I Ch! Great West. 20% 20(4 20 20 Chi Gt West pf.. 58 58% 57% 58% Chi Mil ft St P.. 37 37% 36% 37% Chi Mil ft StP pf 59 60 58% 59% Chi ft Nwn (4).. 89% 89% 88% 89% J Chi PTpf(3%). 51% 61% 51% 51% Chi RI&P (7).. 132% 132V* 131% 132% cm Vel Cab(B).. 33% 33% 32% 33 Chickasha(3)... 45% 45% 45 45 Chiids(2.4o).... 64% 58% 54% 57% Chile Cop (3% ). 112% 113% 112% 113% Chrysler Mot {3) 107 108% 105% 108% City Ice (3.60).. 58% 68(4 58% 58% City Stores (B). 24 24% 23% 24 CCC&StL pf (5). 105 105 105 105 duett-Pea pf (7) 115 115 115 115 Coca-Cola (6)... 131% 131% 131% 131% Coca-cola (4)... 49% 49% 49 49 j Collins ft Alkmn 64V* 65 62V* 65 Col Fuel ft Iron. 73% 77% 73% 77% Col Sou Ist (4 >.. 76 76 76 76 Col Sou 2d pf(4) 7514 75% 75% 75% Col Gas ft Eli 6). 145 145% 144% 144% Col GasftEl new. 59 59% 59 59% Col G&E pf Al 6) 104 104% 104 104% Columbia Graph 71 74% 71 73% Col Carbon 14%. 140 143 139 143 Com Credit (2).. 50% 51% 49 51% Com Cllstpf 6% 100% 100% 100% 100% Comlnv Tr(4). 177 177 175 175 Com Inv (war*.. 64 54 54 54 J Com Solvnls(S). 266'* 262% 256% £62Vi . Com Power(T3). 127 131 125% 131 j Condo Kasi(2).. 79% 79% 79% 79V* j Congoleum-Nair 27% 27% 27% 27% j Cong Cgrs (6). . 83% 83% 83 83% I Consol Cgrs (7). 90V* 90V* 90% 90% Con Cgrs pf»7).. 96% 96% 96% 96% I ConClgprpf(6%) 98% 93% 93% 93% j Con Film pf(2). 27 27% 26V* 27%; Ceasol Gas (3).. 106 107% 105'* 107% j ConsolUaspf(6 I 99% 99% 99% 99% I C-jnßßCuba pf 6 66V, 66V* 66% 66% j Consol Textile.. 4'/* 4% 4 4 Container A 1.20 19 19 19 19 j Container B 60c. 9% 9% 9% 9% Cont Baking A.. 60% 61 60 fil Cont Baking 8.. 10 10% 10 10 Cont Rak pf'*). 93 93% 93 93 Cont) Can 6?% 70% €9% 70% ... „ THE KVKKTSYi STAR. WASHiyOTOK. I). C, THURSDAY. MARCH 7. 1029. Open. Kith. Law. Clo*e. I Conti Insur (2) .. 85 85 84 84% 1 Conti Mot(80c). 22 22% 22 22% Corn Prod f 3% .. 84% 85 84V* 84% Coty. Inc (g 2).. 63% 64% 63% 61% Cresley Rad (1). 104% 108 104% 106V* Crown Zelrbck 1 22% 22% 22% 22V* Cruc:ble Stilt)). 87% 88V* 87V* 88 CubaCaneSugar. 3% 3% 8% 3% Cuba Company.. 19 20 19 19% Cuban-Am Sug.. 12 12 11% 11% Cuban Dom Sug, 5% 5V* 5% 5% Cudahy Pkg(4). 58% 58% 58V* 58% Curtiss Aeroi 1). 150 155% 150 154V* Cuyamel Fruit.. 80% 80% 79% 80 Davison Chem.. 63 63 61V* 62V* DeereftCo pf(7). 124% 124% 123 123 !>ei&Hud<9>... 195 195 194 194 Del Lft W( t7 >.. 130% 130% 129% 129% DenßGWnpf.. 73% 74 73 74 Detroit Edi 8)... 240% 240% 240V* 240% Devoe A (T 3.20). 57% 58% 57 58V* Devoe&R Ist (7). 115% 115% 115% 115% Dome Minestl). 9% 9% 9% 9% drug Inci 4).... 117 117% 116% 117% Dunhill Int U4>. 68% 68% 68% 68V* Du plan Silk (1). 22V* 22V* 22V* 22V* DupontdeN(4). 178% 181 178% 181 Du Pont debt 6). 117% 117% 117% 117% Duq Lt IstiS)... 100V* 100% 100% 100% Durham H 05.... 8 8% 7% 8% Enstman(tB). .. 182V* 182V* 181% 182 Eastman pf(7).. 126% 127% 127V* 127% Baton Axle (3;.. 67 69 67 68% Etungon(2%).. 32% 35 32% 35 Kitingn pf (6% 1. 102 102% 102 102% Elec AutoL t 4 % . 150V* 153 149% 152% Electric 80at.... 13% 13% 13 13% EiecPow&Ltll). 60% 61% 60 61 Elec P&Lt pf(7) 108% 108% 108% 108% Elec Stor B (5). 85% 87 85% 85V* Em BrantgmtA) 16% 16% 16V* 16V* End-John<s).... 76 76 76 76 Eng PubSer(Jl). 52% 52% 62 52% Eng Pub Ser rts. V* l V* l Eng Pu Spfs% . 98 98 98 98 Equit Bldc(2>.. 36 36% 36 36% EquitableTr(l2) 595 696 595 695 > Erie R R 75 76% 73% 75 Erie Ist pf 62 62% 62 62% Erie ft Pitts 61V* 61% 61% 61% Eureka Vac (4).. 49% 49% 49 49 EvansAu L $2%. 63% 63V* 62% 63V* Fairbanks Co pf. 16 16 16 16 FalrbankMpf 17 ) 108% 108% 108V* 108% FedLt&Tra tl%. 81 81# 81 81 Fed Mot T(80c). 18% 18% 18% 18% Fidelit v-Phnenx 96% 96% 96% 96% Filene s pf(6%). 104% 104V* 104 V, 104% First NatSilVk). 69% 70 69 69% Fisk Rubber.... 16% 16% 16 16% Fisk Rub Ist pf. 68% 68V* 68% 68% Fisk R Ist pfev. 69% 69% 69% 69% Fleischman +3 ($ 73V* 73% 73 73% Follansbee t 2%. 64% 66% 64% 64% Foundation Co.. 54 54V* 62!* 52% Fox Film A(4).. 90V* 91% 90 91 Frank-S pf<7).. 108 108 108 108 Freeport T (4).. 45% 46 44 45V* Gabriel Snub A.. 27 27 27 27 Gardner Motor.. 15% 15% 15V* 16% Gen Am TC(J4). 91 91V* 90% 90% Gen Asphalt.... 65 65 63 65 Gen Asph pf(s). 107% 108 106 108 Gen Cable 57 57% 56% 57% Gen Cable A(4).. 112% 114% 112 111% Gen Cable pf(7). 105% 106% 106% 105% Gen Cigars(4l.. 68% 69 68% 68% Gen Electric tl.. 233 239% 231% 235% GenElec sptfiOo) 11% 11% 11% 11% Gen G&EI Alt*. 88 88 88 88 Gen Gas pf A(7 ) 114 114 112% 112% Gen Gft El A(8) 133 133 133 133 Gen G&EI B(t2) 94 94 Ef4 94 Gen Mills pf (6) 97% 97V* 97% 97% Gen Motors (3). 80 81 79% 80V* i Gen Mot pf(7).. 125 125% 125 125% Gen Ry Stg(s).. 105% 105% 104 104V* i Gen Ry S pf(6).. 102% 1021* 102% 102% Gen RefractX).. 79% 80 79% 80 < Gillettes R (5). 116% 116% 115% 116 * < Gimbel 8r05.... 40% 40% 40% 40% < Glldden (tl*).. 41% 41% 41% 41% Glidden pr pf(7) 104% 104% 104% 104% Gobel (Adolph). 55% 56% 55 56% Gold Dust (new) 69% 71% 69% 70V* Goodrich(4).... 92% 95 91% 95 Goodrich pf(7).. 115% 116% 115% 115% Goodyear Tire.. 124% 131% 123% 131 Goodyear (rts).. 13% 15% 13 15% Goodyr Ist pf(7) 102 102 102 102 Gotham H (2%). 69 69% 69 69% Graham-Palge.. 46% 47% 46% 47% Granby (•) 90 90% 89% 90% Grand F&W (1). 87 87 86 86% Grand Unon.... 25% 26 25% 26% Grand Un pf(3;. 49% 49% 49% 49% Grant W T(l).. 124% 124% 124 124 Grt North pf(s). 11l 111% lit mi* Gt Nor pf cfsi6) 108 108% 108 108% GrN'orOr cfs 3 V 4. 32% 32%- 32 32% i Grt Wn Sug 2.50. 37% 37% 37% 37% Grt Wn Su pf(7) 118 118 118 118 j Greene Cana(B). 177% 177% 175% 176 ] Guantanamo Su. 4% 4% 4% 4% , Gulf Mo ft Nor.. 51% 51% 51% 51% Gulf Stat Stl(«). 76% 77 76% 77 Hacknsk W(1 %) 28 28 28 28 I Hahn Dept Stor.. 44% 45 44 44% ■ Hahn DS pf (V* . 103V* 103% 103'.* 103% I Hanna M A (7).. 94 94 94 91 Hartman A(2).. 25% 25% 25V* 25% i Hartmn Btl.20). 29% 29% 29% 29% 1 HavEl Ry pf(6). 58V* 58V* 58V* 58% I Hershey Corp... 68% 70 68V. 69V* 1 Hershey pf<4).. 83% «2% 83% I Hershey pr pf<6) 105 105 105 105 1 Hoe &Co A 19V* 19% 19V* 19V* I Hollnd Fu(e2%) 49V* 49 * 48 49% I Homestakeit?). 72% 73 72V* 73 1 Houston Oil 80% 81 80% 80% I Howe Sound(4). 74 75% 73% 75% I Hud Mam 2 % ).. 49 50 49 50 Hudson Mot(s). 88% 89 87% 88% Hupp Mot(f2).. 70 71% 70 71% Illinois Cen(7).. 141% 141% 141% 141% Ind Oft Gas (2). 31 31 30% 31 Indian Mot pf(7) 106% 106% 106% 106% Indian Refining. 33% 35 33% 34% Indian Refg ctfe 33% 34% 32% 33% Indust Rayon... 121% 121% 121% 121% Ingersoll-KCtO 128 128 128 128 Inland Stl (3%). 90% 94 90% 92% Inspiration C(4) 59% 61% 59% 61% 1 nterboroßa pTr. 50 60% 49% 50% Intercon Rubber. 12% 12% 12% 12% Inrternat Agrl... 14% 14% 14% 14V* Int Ag Ch pf(7>. 83 83 83 83 Inti Bus Ma (6). 158% 159 158% 159 Int Cement(4).. 93 94 93 94 Int Com Engi 2). 83 86% 82% 85% Int Harv (2%).. 104% 107 104% 107 Int Harv pf < 7 >.. 142 142 142 142 Int Mtch pf 3.20. 90% 90% 90 90% Int Mer Marine. 5% 5% 5% 5% Int Mer Mar pf. 40 40% 40 40 Int Nick. Can 80c 61% 62% 60% 62% Int Paper pf (7). 93V* 93% 93% 91% Int PaftPoA2.4o. 32% 33 32% 33 IntPapr&Poß. 22% 22% 22 22 IntPapr&PoC. 14V* 14V* I4V* 14% Int PaftPo pf (7) 90V* 90% 90 90 Int Prtg Ink 2%. 67 57 57 57 Inti Silver (8)... 146 146% 145 146% int Te; ft Tel(6>. 207% 210 207% 210 Inter Dept 5(2).. 78% 82% 78% 82% lntertype(tl %). 33% 33% 33% 33% Island Creek!4). 63 64 63 63 Jewel Tea (t 5).. 144% 149 144% 149 Johns-Manv(3). 191 191 182% 188% [Joliet ft Chi 141 141 141 141 i Jordan Motor... 12 13V* 12 13 Kaufmn DS 1%. 30% 30% 30% 30% : Kayser J(5).... 79% 79% 79 79 Keith-At pf(7).. 110 110 110 110 Kelly-Spring.... 19% 20% 19% 20 Kels Hayes<2).. 56 56 55% 56 Kelvinator Corp. 15 15% 15 15% ! Kendall pf (6).. 92% 92% 92% 92% ! Kennecott (4)... 93.% 95'/* 91% 95 ! Kinney (G R)... 60 62 60 t 2 ! Kinney pf(B)... 108 108 108 108 Kolster Radio... 59% 61% 69% 61% ! Kralt-Pho(l%). 34% 35% 34% 35% Kresge (1.C0)... 54V* 54% 53% 54 KresgeSS pf(8) 113 113 113 113 Kresge Dept S.. 17% 18 17% 18 Kieuger ft Toll. 44% 44% 43% 44 Kroger Gro(cl). 103 V, 107% 103% 107%,! Laclede Gas(lO) 236 236 236 236 Ex go Oil 29 29 29 29 i Lambert Co (8). 141% 141% 139 110% ' Lee Tire ft Rub. 20% 20'* 19% 20% Leh Por Cmt 2% 60 60 59 59 Lehigh PC pf(7> 110 110 110 110 Lehigh Val Coal 23V* 24 23% 24 | LehighVal(3%). 95 95 95 95 Lehnft Fink(3>. 68% 58% 58% 58% i Lig ft Myrs Bts 90% 90% 90% 90% : Lima Locomtve. 46% 46% 46V* 46% 1 Link Belt C 0.... 54 V, 55 54% 54% [ Liquid Car t 4 (4 . 82 82% 82 82% Loew’s (t 3) 71V* 73% 71% 73% i Loew’s pf (6%). 104 104 104 104 ; Loft BVi 8H 7% 8 ; Loose-W(l 60).. 67V* 67V* 67% 67% [ Lori Hard C 0.... 24% 24% 24% 24% Louisiana 0i1... 13% 13% 18% 13% ! Louis GasA 1.75. 42% 43 42% 42V* I Ludlufti Stl ctfs. 77 77% 77 77V* ! Ludlum S pf 100 MI 100 V, 100'.* 100V* ! Mac And(f2.(s). 41% 42 41% 42 McCall Corptl) 74 74 74 74 McCrory B(2).. 104% 104% 104 104 McGraw HIIK2) 44 44 43% 13% ! McKeeprt Tin PI 73% 74 Js% 74 i • Open. Hitb. Low. Close. I McKes&Ro 1.60. 57V* 67*4 66’* 67 AlcKsn pf A3 % 694 594 594 694 Mack Truck!6). 1054 107f* 1054 1064 Macy Co (c 2)... 1644 165 1614 165 Mad Sq Gar IVi . 22 *22 22 22 MagmaCop<4). 74 '4 75 74 75 Mallison&Co... 284 284 284 284 Manat! Sugar pf 44 44 41 44 Mandeil 2%) 34 36*4 34 56% Man Kt m2i;<ds) 614 517* 514 514 ( Man ShlrtfS)... 31 '4 3114 314 314 Marland Oil 37'4 38 374 38 Marlin-Roc t 3% 72’* 75 72’* 75 Marmon Mot(4). 74 75 74 75 Martin-Parrv... 151* 151* 151* 151* Mattueson<6)... 194 194 192'/* l»2'/4 May Dept S<4).. 92% 93% 92% 93 Maytag (t 2).... 234 234 23 234 Maytag pft 31. .. 4214 424 42 42 Maytag Ist pf<6 87 4 87 4 874 874 Mengei Co 26 26*4 254 264 Mexican Seal). ~ 44 454 434 45% Mtaml Cop (2>.. 444 454 44 444 Mid-Cont P(2).. 31% 31% 31 31 Middle States... 34 34 34 3*l Mid States ctra. 24 24 24 24 Midland pftt 12) 2464 252 2464 2484 Miller Rubber../ 23% 244 23% 244 Milwaukee EH6) 106% 106% 106% 106% Minn & St Louie 3 3 3 3 Mo Kan* Tex.. 50% 514 484 49% Mo K&Tex pf i7) 1054 1054 1054 105% Missouri Pacific. 824 84% 824 844 MoPaciflc pf(s). 133% 134% 133% 134% Mohwk Car 2 V*. 76 77'* 751* 764 Mont Ward 2*.. 1264 1294 1254 1294 Moon M0t0r.... 64 64 64 64 Mother L (40c).. 54 54 5 5% Motion Pic Corp. 31 33 31 32 Motor Meter A.. 21 21 21 21 Motor Prod (2).. 185 185 185 185 Motor Whl (2).. 434 43% 434 434 Mullins pf (7).. 95 95 944 944 Munstngwt (3).. 624 624 524 524 Murray Cot p.... 744 754 72% 744 Nash Motors(6). 1064 107% 1064 1074 Nash & Chat(7). 1964 1964 195 195 Nat Acme t1)... 35% 36% 35% 36% Nat Hellas Hess. 67% 67% 64% 66 Natl Rlscult(t7) 178 1794 178 1794 Nat Rise pf(7).. 143 143 143 143 Nat Cash Reg t 4 1244 127% 122 1264 Nat Dairy <J3). 127% 1314 126% 1304 Nat Dept Stores. 35 36 35 354 Nat Dtstllieia... 384 41% .384 59% Nat Distlllerp pf 76 79 754 78% Nat Enamlg (1). 654 56 54% 56 Nat Lead pfA(7) 140 140 140 140 Nat Pow&Ltt 1). 654 56% 55 4 56% Nat Ry Mex 2d.. 24 24 24 24 Nat Supply(tß). 120 120 120 120 Nat Tea (14)... 84 874 83% 864 Nevada Cop (3). 56% 59% 56% 58*« NOTex&M (7). 137 137 1354 1354 N Y Air Rr(3)... 46% 48 46% 48 N Y Central(B).. 191 193% 1904 192% NY C & StL( 6). 137 1384 137 1384 N Y Dock pf(s). 86% 87 86% 87 N Y & Lack(7).. 1084 1084 1084 1084 NY & Harlmt 5) 315 315 315 315 NYNH&Hart<4) 90 914 89% 904 NY NH&H pf(7) 1164 1164 116 116 NYOnt&Westn. 29 294 29 29 N Y Sim pf (6).. 1004 1004 1004 1004 NY Stm Ist pf 7. 1134 114 1134 114 NorfAWniTlO) 195% 195% 1934 195 NorAnci blo%stk 1024 104% 1014 104% Nor Am Ed pf(7) 1014 1014 1014 1014 No Germn Lloyd 57% 67% 57% 57% Norm Pacts)... 109V* 11IV* 108% 111% Nor Pac cfsl 5).. 1064 1074 106V* 107% Northwn Tel(3). 484 484 484 484 Norwa Ik Tire... 64 64 54 54 Norwalk Tire pf. 37 37 37 37 Oil Well Supply. 25 25 25 25 Oil Well S pf 1004 1004 1004 1004 Omnibus 8 84 8 8 Omnibus pftß).. 82 82 82 82 OppenhmCol<4). 804 80% 804 80% Orpheum pf (8).. 80 80 80 80 Otis E!ev («).... 301 305 301 305 Otis Steel 44V* 45 43% 45 Owens Bot <c4)„ 91 91 90 904 Pacific Cast3l.. 654 56% 551* 66% Pacific Gas(rts). 3 3 2’* 2’* Pac OH Stubs... 14 14 14 14 Packard (t 34).. 137 1384 135 138 Pan-Amer Pet B 42 424 414 424 Pan*Am Petrolm 414 42 414 42 Pan-Am Wnfi.. 154 154 15 15 Panhandle 94 94 94 94 Panhandle pf... 674 574 57V* 574 Paramount-F-L 634 644 62% 644 Park & Tilt 33).. 70V* 704 70 70 Park Utah (80c). 124 124 124 124 Path* Ex 11% 114 11% 114 Pa the Ex(A).... 244 244 244 244 Patino M (3.89).. 424 434 414 43% Peerless Motor.. 194 194 194 194 Penick A Ford.. 48 494 48 494 Penn Dixie Cmt. 214 214 21 21 Penn R R(3%).. 774 774 76% 774 Pere.Marq (tB).. 161 161 161 161 Pere Marq pf<s) 94 94 94 94 Pere M prioris). 100 100 100 100 Phila Co pf(3).. 63 63 53 53 Phlla&RC&l.. 28V* 29 28V* 29 Phil Morrisd).. 174 17% 174 174 Phillips F< 1 >. 37% 37% 374 374 Pierce- Arrow... 32 324 32 324 Pierce-Arrow pf 804 804 804 804 Pierce 0i1....v.. 214 24 24 24 Pierce Petrolm.. 44 5 44 5 Pilsbury (1.60).. 52V* 524 52 52V* Pirelli, Italy (A). 55V* 554 65 55 Puts Coal 67% 67% 67% 67% Pitts St! pf(7).. 95 954 94 954 Pitts Ter pf(6),. 70 70 70 70 Pltt»&WVa(6).. 139 139 139 139 Por RlcoToA(7). 87V* 88 874 88 PortoßlcoTohß. 41% 42 41 42 Postal T&Cpf 7. 1044 1044 1044 1044 PostumtJ)..... 704 714 70 714 Prairie OtlftGee. 584 59% 58% 59% Prairie PLt3 4 57 574 57 574 Pressed Stl Car. 20% 20% 204 204 Produ A Reflnrs. 19 19 19 19 Producers&R pf. 40 40 40 40 Public Serv 2.60. 834 854 824 844 Pub Serv NJ rts. 11 4 4 Pub Serv pf(6). . 1054 1064 104% 104% Pullman C 014).. 814 814 814 814 Punta Aleg Sug. 16 16 l« n> PureOll (1).... 23% 23% 23% 234 Pure Oil pf(S).. 114'* 114V* 1144 1144 Purity Bak(J).. 123 1234 1214 1234 Radio Corp. ..... 375 407 375 407 Radio (new).... 76 814 75 81% RadioCo pf(3%) 55 55 55 55 Radlo-Keith(A). 344 354 34 35 RS C cf5(4).... 784 78V* 784 78V* Keadingßy(4).. 1094 109!* 108 1094 Reading 2d(2).. 46% 46% 46% 46% Reading lst<2).. 42 42 42 42 Real Silk Hoe... 77 78% 764 78% Reis(R)& C 0.... 12% 13 12% 13 Reis Ist pf(7)... 90 90 90 ao Remlngtn-Rand. 32 32% 31% 32% Rem-Rd Ist < 7).. 944 94V* 944 944 ReoMot (t1).... 294 294 29 294 Rep 1 & 5(4).... 93 94% 924 934 Rep i& s r>f<7). no no no no Reynolds Sungs. 9% 9% 9% 9% Reynolds Tob A. 76 76 76 76 Reynolds Tob B. 604 604 59% 60 Richfield Oilt 2). 404 404 40 4 40'* Rio Grande Oil.. 344 36 344 36 Rossia InetSH. 2544 255 252 252 Royal Bak P(l). 35 35 344 344 Royal BakgPpf 1014 1014 1014 1014 Royal D(a1.336) 52V* 52% 524 52% Safeway (3).... 160% 167 160% 167 Safeway pr (6).. 95 96 95 96 Safeway pf (7).. 1034 1034 1034 1034 St Jos Leao«t3). 764 79% 75% 79% StL & San Fr(3) 1154 1154 115 1164 StL&SanF pf (6) 95 95 95 95 StL&Southwest. 106% 1084 106% 108 Savage Armsll) 44V* 444 434 434 Schulte (h 3%) .. 30% 30% 304 304 Seagravet e1.20). 194 21 19 20% Sears-Rot(J2 4) 153% 166% 153V* 155% Seneca Copper.. 6’* 76% 7 Shattuck FG<2>. 1294 131 1294 131 Shell Untl.4o). 264 26% 26V* 26% Shubert The<6). 664 66% 65% 66% Simmons Col 3). 944 94% 904 93V* StmmsPetl 1.60) 19 19 18% 18% Sinclair (t 24).. 56% 38 364 374 Sinclair pfib)... 110 110 110 110 Skelly 011(2).... 334 33% 324 334’ So Po RSut2 4. 384 384 384 384 South Cal Ed (2 ) 60 604 584 604 South Pact 6)... 130% 130% 130V* 1304 South Rytß).„.. 148% 148% 148% 148% South Ry pf(s). 98% 98% 98% 98% SouRyM&O Cfs 4 1174 1174 117 117 Spaulding pf (7). 115 115 115 115 Soane Chalfnt. . 46 46 46 46 Spen Kellog 1.60 39 39 384 384 Spicer Mfg..... 604 62 604 61% j SplcerMfg pf (3) 614 524 514 514 Spiegel Co 13).. 104 106 103% 106 Stand Com T(l). 34V* 34V* 33V a 344 Std G&E< 34 ). 88 884 87% 88 Std G& E pf<4). 65 65'* 65 654 Std Milling (<). 115 115 115 115 Std Oof CallT3l 66% 67 66 664 StdOilNJ (Tl 4). 484 494 481* 49 StdOtINY(I.6O). 384 38% 38 38V* Std Plate Glass. 64 64 54 54 Std I J Glass pf. . 20 20 20 20 Std San M(1.68). 48V* 484 484 484 Stanley Co 35 35 35 35 Stewart-Wart 6) 134% 136 133'* 136 Strom berg (3).. 614 61% 61 61 Studebaker(7s). 864 88 864 88 Open. Hich. Low. Clo*e. Submarine Boat. 34 34 8 34 SunOll (g1).... 57 4 584 574 584 Sttn Oil pf (6)... 103% 103% 103% 103% Superior 0i1.... 74 74 74 74 Sweet of Am(l). 16 16 16 16 Symington Cl A. 13 13 j 13 13 Telautogrph(l). 19% 19% 19% 19% Tenn Coppert J). 19 19 184 18% Texas C'orpntS 1. 584 59 584 59 | Tex Cor 50% pd. 56% 574 56% 564 rexastiulfSuli*) 72% 73% 72V* 73V* T&P CAO(b2 V*) 19’* 20% 19% 20% Tex Ld Trtnew) 17% 18'* 17% 18 The Falr(2 40).. 42% 43 424 42V* Third Avenue... 35 35 35 35 Thomp J R(3.«0) 49% 49% 49% 49% Tidewater AaOil 18% 184 184 184 Tide VV Oil pfts) 914 914 914 914 Timken RB (3). 81V* 814 80 4 814 Tohac Prod (8).. 974 974 97 97 Tob Prod (new). 194 20 194 20 Tobac Prod At7) 105% 105% 105% 105% Transcont 0i1... 94 94 94 94 Transue&Wd) 484 504 48V* 50V* Trico Prod(2 4 ) 404 41 394 394 TruaxTraerC... 274 274 274 274 TrusconS t 1.20. 52’* 524 524 524 Undwd-EI F (4) 102 105 102 105 Onion Carb(l). . 209 2124 207 211 Union Pac(lo).. 223 2264 223 226 On Pacific pf(4) 83V* 834 834 834 Utd Biscuit 1.60. 484 484 48V* 48V* Utd Cigar Std). 22V* 22% 22V* 22% Utd Dyew pf(7). 56 56 55 -*5 Utd Elec C0a1... 61 52% 50% 52% Utd Fruit (c 4).. 144V* 1444 142 142 Utd Paperboard. 21% 22 214 22 US Cast Ir P<2). 41V* 44V* 41’* 444 US CIP Ist 1.20. 18V* 184 18V* 184 U S Distributing 14% 14V* 14% 14V* U S Distrib pf<7) 75 75 75 75 U S Alcohol (6). 14t 141’* 140 141V* u S Leather.... 27 27 264 264 U S Leathr At 4) 504 50'* 50V* 60V* U S Lea pr pf(7) 102 102 102 102 11 S Realty<4).. 91% 93 91 92 U S Realty rts.. 4% 4% 3% 4 U S Rubber 57% 61% 57% 61% USRublatpf.. 864 86V* 85V* 86 U S SmeltOV*)., 66 664 654 66’* U 8 Steel(7).... 18 t 1854 181% 1844 U S Steel pf(7).. 1434 143V* 1434 143V* U S Tobacco!3). 100 100 100 100 lint Leaf Tob(3) 75 75 75 75 Uni Pic Ist pf<B) 88 88 88 88 Untv Pipe & Rad 17'* 174 174 17V* Util P&L A(e2). 444 454 444 45V* Vadasco Sales... 10% 10% 10% 10% Vadasco pf.. .... 72 72 72 72 vanadium (T 4).. 103 1044 102 104 Van Raalte 30 30 30 30 Van Raalte pf... 68% 684 68 4 684 Vick Chem<4)... 854 *54 85 4 854 Vcksbg&Spf<s). 103 103 103 103 Victor TalkgM). 1544 161V* 1544 1614 Victor pr pf(7).. 114 114 114 114 Viet Talk M cfs. 1541* 161 1544 160% Va-CaroChem.. 18% 19 18% 19 Va-CarCh 6%pf. 66V* 56% 56 56 Vulcan Detln... 72 72 72 72 Vulcan Detin(A) 70 714 70 714 Wabash 70% 70% 70 70 Wabash pf A(5). 95 95 95 95 Waldorftl%)... 23'* 23% 23 23 Walworth(l.2o). 324 344 324 34% Ward Baking 8.. 13V* 134 13V* 13V, Ward Bak pf(7). 80 80 80 80 Warner Bros Flo 117% 119!* 1164 118% Warn Bros P rts 3% 3% 3 34 Warner pf (2.20) 63 63 52% 524 W«rner-yut2).. 85 35 34V* 344 Warren Ist pf (3) 50 50 50 50 Warren F*ptre. 24 24 *>4 24 Weber & H (j 4). 72 74'/* 72 74% Web&Hell pft7) 101 101 101 101 YVebstr-Eislohr. 94V* 944 94V* 944 Webster-Els rts. 17 17 17 17 Wesson O&S (2) 48 48 47 47 W Penn El A<7). 104 104 104 104 VV Penn El pf<7) 108 109 108 109 West P P0(6)... 10814 109 1084 109 West PPo pf(7> 115 115 115 116 West DalryA(4) 55 55 55 55 West Dairy 8... 29 29 284 284 West Maryland. 46% 48% 46% 484 West Md 2d Df. . 48 48 48 48 West Pacific.... 38 38% 374 37% West Pacific pf.. 60% 61 60 60 WUTeleg(l).. 203 213% 203 2104 VVesthse A Bl 2). 604 614 60 514 WestlnghseM).. 161% 153% 1494 153 Westhse lst(4). 149 149 1484 149 Weston Electric. 25 25 25 25 White Eagl*(2). 354 36V* 35V* 36V* VVhiteMotd)... 504 60V* 60 50V* White Sew Mach 35% 86 35% 85% Wilcox OU AG.. 23 t'23 23 23 'J, 1 co * <A) 2%.. 46 46% 454 454 Wilcox Rich B 444 44V, 44’, 444 WlUys Ov c 1.20. 29% 30!* 29% 304 VVllson AC0.... 114 11% 114 114 Wilson ACo pf. 70 704 69 69 Woolworth («)., 200% 202 198% 201% Worthn Pump.. 524 64 524 54 Wright Aero(2>. 263 270 263 270 Wrigey (<t3%). 754 76% 75 75 Yale&Towne(4). 67 4 684 674 684 Yellow Truck... 39% 40% 394 404 Young Spring.. 57% 57% 67V* 674 Youngstn Shts). 109% 1104 109% 110 Hourly Sale* on N. I. Market. 10:30a.m.. 469.900 12 m... 1,541 700 1:30 p.m. 2.293.700 2:15 p.m 2.750,700 rates a* given in the above tael* are the annual cash payments based on the «r h*lt-rearly declarations. f **, tr *- J. Plu * * % > n * Piu* ‘Unit of trading less than 100 ahares. * 3^ n .i )r ?i? rre<l ‘foek. 1 Plus 1/25 In atoeg. » this year—no regular rate, b Pay »hje in stock, c Plu* 5% in stock, d Pav •Me wh J n n , e * rn ,& .• Borabla In cash or stock, f Plus 10* in stock, g Plus 6or, in stock, h Partly stock. 1 Plus 2 or. m k £ lu * *h»re auarterly In Jf°fk. m Payable 1/10 share quarterly in United Cigar Stores common stock, n Plu* 14 % In stock GERMAN BONDS AND STOCKS. Special Dispatch to The Star. NEW YORK, March 7. I Oer Govt Red Loan with draw B ‘ d Asked ctfs att per 100 R M 55.00 60.00 1 Ger Govt Red Loan without draw ctfs per 1.000 R M.... 36.00 40.00 (Quoted in dollars per million marks.) Hamburg 44s 1919 20.00 38.00 (Quoted In dollars per thousand marks.) Ger Gen Elec 44s pre-war... 22.00 25 00 Ger Gen Elec 44s 1919 2.25 3 00 , Berlin 4s pre-war 4. 00 600 I Hamburg 3s. 34s It 4s pre-war .50 1 00 I Hamburg American Line 445. 31.00 32 00 i North German Lloyd 44s 31 00 32 00 Krupp 5s 1921 126 2.00 Dusseldorf 4s pre-war 50 1 50 Frankfort a-M 4s pre-war 50 1.50 Munich 4s pre-war 50 1.50 (Quoted in dollars per share.) AEG (Ger Ge Elect 41 00 43.00 AEG (Ger Ge Elec) pfd 8.. 9.00 11.00 Commerz and Prlvat Bank.... 46.00 48.00 I O Farben 80.00 62.00 Disconto Gellschaft 38.00 40.00 Berliner Handels 55.00 57.00 Dresdner Bank 40.00 42.00 Deutsche Bank 40.00 42.00 Darmstaedter Bank 66.00 68.00 Heyden Chem 10.00 12.00 Mercur Bank Vienna 2.00 4.00 • North German Lloyd 11.00 13.00 Austrian AEG (Gen Elec).. 3.00 5.00 Rudolph Karstadt 31.00 23.00 FEDERAL LAND BANK BONDS Special Dispatch to The Star. | NEW YORK, March 7. Bid. Asked. Land Bank 4s May 1958-38... 93V* 94 Land Bank 4s Nov. 1957-37... 934 94 Land Bank 44s Nov. 1958 96 4 97 4 Land Bank 44s Jan. 1957-37.. 964 974 Land Bank 44s May 1957-37.. 964 974 Land Bank 44s July 1956-36.. 964 97 *3 Land Bank 44s May 19420p32. 97% 984 Land Bank 44s Jan. 19430p33. 98 984 Land Bank 44* J &J. 19530p33. 98 98V* Land Bank 44s J.&J. 19550p35. 98% 99Vv Land Bank 44s Jan. 1956-36 . 98% 991- Land Bank 4%s J.&J. 19550p33. 99% 100% Land Bank 4%s Jan. 19540p34. 99% 100% Land Bank 4%s July 19540p34. 99’* 100% Land Bank 5f Nov. 19410p31. : 99% 100% Land Bank 5s May 19410p31... 99% 100% STRINGENCY *IN MONEY LAID TO RESERVE PLANS By the Associated Press. NEW YORK. March 7.—The present ; stringency In money rates, which sent call loans to 12 per cent yesterday. Is regarded in Wall Street as evidence that ] the Federal Reserve authorities are get ting results In their efforts to stem the absorption of credit In speculative trad ing. Withdrawal of funds from the : stock market by out-of-town banks as a result of pressure by the Federal Reserve j Is believed to have been the chief cause for the tightness of money the last two days. * WHEAT CLOSES HIGHER. CHICAGO, March 7 (Special).—The j wheat market closed near the day's top : with pit shorts covering. Last prices 1 were % to 1% cents higher. March, i 1.22'i; May, 1.27a 1.27%; July, 1.29% a j 1.29%; September, 1.31%. Corn closed % to 1% cents higher. March, 957*; May, 99%a99%; July, f 1.02%;' September, 1.03%. Oats closed % to % cent higher. 1 March. 46; May. 49a49%; July, 49a 1 49 V*; September, 46a47. 1 STOCKS IRREGULAR IN CREDIT SQUEEZE Money Renews at 10 Per Ceht —Traders Fear Higher Rate Will Come. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, March 7.—Nervously awaiting developments in the credit sit uation this morning's Stock Market fluctuated irregularly, now rallying and then reacting. Money was the controlling factor in the day’s operations. The renewal rate was 10 per cent, and it was a striking commentary on the present-day specu lative mood that this figure was hailed with relief, simply because it was 2 per cent under the high for new loans at the close yesterday, entirely overlooking the fact that money has not renewed at 10 per cent before today since Jan uary 3. Rally Follows Renewal Rate. The posting of the renewal rate was followed by a brisk rally in the general list. Funds were said to be in good sup ply at 10 per cent, with the qualifica tion that any large calling of loans would force the price higher. The prob lem that the Street was unable to solve to its satisfaction was to what degree the member banks were going to heed the admonitions of the Federal Reserve to cut down on their security loans, re gardless of the; interest rate or of their own position. It is revealing no secret to say that the trading community was more respectful today of Federal Re serve power. In the first-hour rally there was un doubtedly a good deal of buying foY account of a newly created short Inter-, est. Bearishly Inclined operators have been burned so often that they dread the fire and the first sign of a rally drives a good many of them to cover. U. S. Steel was an early leader on the side of advance, up from 2 to 3 points. Anaconda, first dipping to a new low on the movement, afterward recovered more than the Initial loss. Some stocks fluctuated wildly, among them Johns-Manville and Radio. The former was pressed for sale, dropping more than 10 points under the pre ceding close before support appeared and upward action ensued. Something may have been due to the news of the sudden death of the president of the corporation, but in a normal market the swing would not have been nearly as wide. Radio, which was down 18 points at the close yesterday, selling at 390. at noontime was up 20 points net. Rails Well Supported. As a rule the rails were well suported. This was practically true of Baltimore j & Ohio, which, at 132, was only a point | under Its record high. New York Cen tral rallied moderately, and there was active dealing in Alleghany Corporation at higher levels. Erie was one of the better acting stocks on the tape. Besides the Immediate money situa tion. the market had to take into ac count the fact that the weekly state ment on brokers’ loans would be made public after the close and that this was the day for the meeting of the directors of the New York Federal Reserve Bank. The Bank of England made no change in its rate and that news was at hand before trading began on this side, but what the New York bank would do was uncertain, although the balance of opinion Inclined to the belief that no change would be made. Wall Street Briefs The Ward Baking Corporation has announced the election, on March 4, of Ralph S. Kent as president of that cor poration and the Ward Baking Co. to succeed the late William B. Ward. Charles A. Ward remains as chairman of the board of the corporation. Wall Street expects the monthly re port of the United States Steel Corpo ration, to be published Saturday for February, to show little change in un filled orders, unless month-end adjust ments were made. Production during the month about kept pace with new orders. Foreign buying of copper, held chiefly responsible for a rise in price of 1 % cents a pound last week, was reported today to have fallen off. with the result that no Immediate change was expected In the present level of 19% cents, do mestic. However, the trade sees no prospect of a decline in price until July, since producers are sold up to June. In addition to $2,000,000 announced recently, another like amount of gold has been taken In Argentina for ship ment to New York. Present exchange conditions are such that it is cheaper to ship gold to New York than to buy dol lars in Buenos Aires at a premium. The Western Union Telegraph Co. ex pects to start in about a month in stalling new high-speed stock quotation tickers on all New York Stock Exchange ticker circuits. BUSINESS LEADER DIES. ; jT. F. Merseles. Johns Manville President, Passes In West. DEL MONTE. Calif., March 7 ilP).— ! Theodore Frellnghuysen Merseles, 65. Bronxvllle, N. Y„ widely known busi ness man and bank director, died of heart disease here last night. His Wife and a son Herbert E. Mer seles. were at the bedside. Another son, T. I. Merseles of Bronxville, also sur vives. Mr. Merseles was elected president of Montgomery Ward & Co. in 1921, and recently was chosen president of Johns Manville, Inc. He was a director of the Northern Pacific Railway Co., the Con tinental <fe Commercial Bank In Chicago and the Seaboard National Bank of New York. DIVIDENDS. P*- Pay- Hldrs. of Company. riod.Rate. able. record Am Cyanamid A. Q *0.30 Apr. 1 Mar. 15 Do ex .10 Apr. 1 Mar. 15 Do. B Q .30 Apr. 1 Mar. 15 Do ex .10 Apr. 1 Mar. 15 Am Cigar pf .. Q 1.50 Apr. 1 Mar. 15 Am &P Pr pf... Q 1.75 Apr. 1 Mar. IS Am Snuff Q 3.00 Apr. 1 Mar. 15 Do. pf Q 150 Apr. 1 Mar. 15 Bliss EW Co Q .25 Apr. 1 Mar. 19 Do Ist pf. ... Q 1.00 Apr. 1 Mar. 19 Do. A2d pf... Q .8714 Apr. 1 Mar. 19 Do. B 2d pf... Q 15 Apr. 1 Mar. 19 Butte &Su Mn.. Q .50 Mar. 30 Mar. 15 Can Fdy & F A. Q 374 Apr. 15 Mar. 30 Chase Natl Bank Q 350 Apr. 1 Mar. 13 Chase Sec Corp. Q 1.00 Apr. 1 Mar. 13 Eastern Roil M Q .374 Apr. 1 Mar. 20 Evan* Auto Load Q .624 Apr. 1 Mar. 20 Do Stk 2% Apr. 1 Mar. 20 Fanny Farm CS Q .25 Apr. 1 Mar. 15 Do. pf Q .60 Apr. 1 Mar. 15 Gen Mills Inc pf Q 1.50 Apr. 1 Mar. 14 Guaranty Trust. Q 4.00 Mar. 30 Mar. 15 Kan Cy S Ry pf Q 100 Apr. 15 Mar. 30 Ky Rock Asphalt Q .40 Apr. 1 Mar. 15 .Do Sp stk 54 Apr. 15 Apr. 1 Lambert Co Q 2.00 Apr. 1 Mar. 18 Lehigh Valley... Q .874 Apr. 1 Mar. 16 . Do. pf q 1.25 Apr. 1 Mar. 16 Leh Val Coal S Q .90 Mar 30 Mar. 15 . Do. pf Intt .50 Mar. 30 Mar. 15 Loew s Inc Q .50 Mar. 30 Mar. 14 LoriUard P pf... Q 1.75 Apr. 1 Mar. 14 McGraw Hill Pub Q .50 Apr 1 Mar. 20 Maytag Co Q .374 Apr. 1 Mar. 15 Memph PLpf *7 Q 175 Apr. 1 Mar. 16 Do. S 6 pf Q 150 Apr. 1 Mar. tr Mer &Mn Trans Q .624 Mar. 31 Ma IS Mount Prod C... Q .65 Apr. 1 Ma .15 Mount St Pow pf Q 1.75 Apr. 20 Mar. 31 Natl Bank Srv C Q 1.35 Apr. 1 Mar. 15 Netl Candy Q .43% Apr. 1 Mar. 12 Do. Ist pf Q 1.75 Apr. 1 Mar. 12 Do. 2d pf Q 1.75 Apr 1 Mar. 12 Nat Rub Mach.lntt .50 Apr. 15 Mar. 20 NPS C 74 Apf Q 1.75 Apr. 1 Mar. 15 Nevada Con Cop. Q 1.75 Apr. 1 Mar. 15 Nickel Hold C..— 1.20 Apr. 2 Mar. 16 OH 8 Inc no par Q .374 Mar. 20 Mar. 9 j Park Utah CM . Q .20 Apr. 10 Mar. 19 1 Rossia Insur. ...q 1.60 Apr. 1 Mar. 14 I State Title &M. Q 2.50 Apr. 1 Mar. 15 I Stromberg Car. .IQ .75 Apr. 1 Mar. 18 ' Cha l pf . . Q 1.50 Apr. 1 Mar. 15 | T'de-W As O pf. Q 150 Apr. 1 Mar. 18 j Trice Products.. Q .624 Apr. 1 Mar. 15 Uni Ins Newark. Q .674 Mar. 15 Mar, 1 U S Tobaoco q .75 Apr 1 Mar. 16 I Do pf q 1.75 Apr. 1 Mar. 18 Utah Copper ...Q 4.00 Mar. 30 Mar. iJ FTNANCTAi:.' 5% LOANS 5% On High Class Residential Property Write tor Booklet Jos. W. Brooks fi? Co. Insurance—Frank. 2913 212-213 Transportation Bldg. G. M.-P. MURPHY 8i CO. New York WASHINGTON Richmond , MEMBERS . New York Stock Exchange Washington Stock Exchange Richmond Stock Exchange New York Produce Exchange New York Curb Market Cow 0/ our "Fortniohtlu Review" on Re overt 1508 H Street Connecticut at K Main 9600. Private Wire and Teleofaene to New Perk THE FIRST SUPER-TIREI GOODYEAR DOUBLE EAGLE on display at BEN HUNDLEY GOODYEAR TIRES 34i6 14th St. N.W. (At Newton) SAFE FIRST MORTGAGES \ WE KNOW THE VALUE ®OF THE PROPERTIES —that stand back oLour 6% FIRST MORTGAGES No loan is granted until after Over a Third a careful, conservative ap of a praisement has' been made. So Century you invest with every assurance Without a of security and definite return Loss —always on the due date. In amounts from $250 up. B. F. SAUL CO. Main 2100 925 15th St. NAY. THERE IS NO SUBSTITUTE FOR SAFETY * FROM 69 I 1 To '29 ; w One month after Ulysses S. Grant ~ had been inaugurated in 1869, our firm started business in a modest way in the city of Washington. In = this era of reconstruction, expansion ’ w . and industrial growth, the policy of = °«r founders brought immediate sue- sr ¥' cess. It has continued unbroken through every successive period— — through wars and peace, panic and prosperity. * ¥ = With the inauguration of Herbert Hoover, an era of commercial co- operation and unified prosperity w looms on the horizon—and we look ▼ forward to even greater success in our own special field, the marketing ~ of First Mortgage Notes on approved M income-producing property in the na — Mon’s capital. From 1869 to 1929 many changes have come in Washington, as in the Nation—but the policy established by our founders has enabled us to w make a continuous record—nearly “ <— sixty years of unfailing interest re- ~ w turned on the 6% First Mortgage ’ Notes we sell, without a single loss rs to any investor. __ * ¥■ ; = Shactzell, = i if RtIEEW&IiENSEY CO. w = MORTGAGE BANKERS \ 117 15 STREET N.W. / = \ WAiIIINCTCN D.C. / V - . Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Rrorrwntins Mutual Benefit Life Ins. Ce. 1520 K Street Main 475