The Washington times. [volume] (Washington [D.C.]) 1902-1939, July 16, 1928, Image 10

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The Washington times. [volume], July 16, 1928, Page 10, Image 10
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The Washington times. [volume] (Washington [D.C.]), 16 July 1928. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn84026749/1928-07-16/ed-1/seq-10/>

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10
LATEST NEWS AND QUOTATIONS OF THE FINANCIAL MARKETS
_____________ - . - ■ .. ...I—.
STOCK ADVANCE
BELIEVED
AT PEAK
By RICHARD HATTON
The stock market, business and
bonds are all in the limelight these
days and economic experts, market
analysts,, and business specialists
are prolific with advise and opinion.
According to F. R. Keech & Com
pany a new school which preaches
equities as represented by common
stocks, and maintains that invest
ing in bonds and putting one's
money in savings banke is out of;
date, may be right. But when the ;
income return on the stocks of I
standard industrial companies is
below the current loaning rate of
xnoney and less than the yield on
high-grade industrial bonds, and
when market valuations show from
fifteen to twenty times net earnings,
we ..believe it is a good time to
leave such stocks alone.
During the war and immediately
- thereafter, when business was gen
erally artificially controlled, many
maintained that the law of supply
and demand had been superseded*
but in 1920 and 1921 old “supply
•nd demand” came back with ,a
vengeance. ;
"We believe.” the company said 1 .
**that business is on a sound basis
and that fundamental conditions are.
generally good, but we further be
lieve that loans on securities will
have to be~ considerably ■ reduced
and that the prices of many in
dustrial favorites are still too high.
“Our old-fafohioned idea that
stocks should sell .at prices in rela
tion to present -and prospective
earnings we tefel will some day re
assert itself and confound the
apostles of ‘he- new school.
“More than ever we believe that
th;s is the time to watch earnings
and prospects, the trend of money
and Wall Street loans, and possess
your soul in patience."
Prices Too High
S ' An analysis by Mackay & Co.
finds bond prices too high and
•ays:
“Viewing the bond market gen
erally. the present level of prices,
taking into account the trend over
past years, current tex rates, and
the commodity price level, is rela
tively high, according to an analy
sis jn the July issue of the Invest
ment Review published by Mackay
& Co., which adds that the major
portion of the upward trend of
prices has about run its course.
i “The analysis points but that the
advance cannot be #tpected to
continue, at least not at the rale
of the last few years, and that the
view held by many .authorities in
the bond market that S*a per cent
returns on long-term bonds are to
be a thing of the hear future, can
hot be expected aa a development
for the next several years?*
Regarding business. W. J. 'Won
man believes the beginning of th*
second half of the year "finds busi
ness and industry of the country
taken as a whole on a good founda
tion and while not anywise fore
casting a boom, presenting many
indications that the coming six
months will be fully as good as
the corresponding period of last
year.
“A considerable amount of irregu
larity continues to lie evident in
conditions, but this is the situation
We always have with us and view
ing prospects generally there ap
pears to be little upon which apy
pessimistic outlook could be based.
"Competition continues quite
strong in most lines and in many
instances there are complaints re
garding the small margin of" profit.
These are particularly numerous
from independent retail establish
ments, coming into direct conflict
with units of large chain store sys
tems.
"The steel industry although
operating in the first half of the
>» year at a record breaking volume
of business has at the same time
been doing business on an unsatis
factory profit margin, when the
large investment in this basic line
Is taken into consideration.
"Since the death of Judge Gary
price conditions in the steel indus
try have been far from satisfactory
and as yet it seems no one has seen
fit to accept the responsibility for
price stabilization formerly taken
by the late chairman of the United
States Steel Corporation."--
Too Much Gold
A summing up by Col. Leonard
P. Ayres, of the Cleveland Trust
Company says:
"Midsummer of JO2R probably
marks the end of an economic era
in the United States, the termina
tion of a five-year period during
which this country has been toe
temporary custodian of more tlum
its share of the world’s stock of
monetary gold. Probably thes-3
years will be referred to in our
economic history as the per.od of
Coolidge Prosperity.
"During these five years this
country has had so great a supply
a credit, t hat_.it has been able «o
finance simultaneously and without
difficulty such credit consuming
undertakings as a building boom,
a Florida boom, a continuous bull
market, a vast extension of install
ment selling,, a rebuilding of its
manufacturing plant, and an enor
mous extension of its highway sys
tem. There has been credit enough
fot all, and for all at the. same
time. Nothing has had to wait for
anything else.
"As we pass into the second half
of 1928 we appear to be leaving a
period in which credit has vigorous
ly sought employment, and entering
ohe in which enterprises must com
pete for credit. The outlook Is
< hanged, and it Is one to which we
have become unaccustomed. The
stock market has become a great
national bet against the continua
tion of high interest rates, and since
the Federal Reserve authorities can
hardly reverse their present policies
until the excessive use of credit for
speculation has been terminated the
decision will probably be against
.the stock market.
"If interest rates must remain
much longer business will
probably suffer as a result Al
ready there has been a sharp reduc
flop in the flotation of new bond
New York Stock Exchange
1 Quotations furnished by W. B. Hibbs & Co.
Pre*.
High Low Close Close
Abitibi P P.... tO% tO% 60
Abra&Strau.. S29i
Adams Express 295 298 H 300
Advßumley.. 39)4 33%
Adv Rumley pf 52 51 52 52
Ahumada Lead 3% 3% 3¥ 3M
Air Reduction.. 63M 63M €2% 63*4
1 Ajax Rubber.. 9X 9 9 9J«
1 Al Chem Dye.. 168 166 16S 169
Allis Chalmers. 126 1254 1254 12/M
> Amerada 304'30 30 31
Am Ax Chem 18M 184 1?M I’M
Am Ag Ch pf... 664 fc64 664 b?
AmSrßopi.. 16 15 15 154
. Am Bosch 3l?s 30% 31%
Am Can 83% 62 82% 83%
AmCarFdy... 9* 93 93 93%
■Am Chicle 76 75% 75% 75%
AmDruggyn.. 12% 12 12 12%
Am Express.. 137 136 136 190
AmFoPow... 33% 32% 33% 32%
Am Hide *L pi 43 43 43 42%
Am Heme Prod 73% 73 73 73
Amice 39% 39% 39% 40
Am Inter Corp S 3 91 St 93%_
Am Linseed... 104% 1C3% 103% 105
'Am L0c0...... 93% 56% 96'4 97
Am Pow A Lt. 78% T7% 77% 79
Am Ry Expres 120 119% 1<9% 119%
Am Republic.. 60% 59 59 62
AtiSafßaz... 61% 61% 61% 61%
Am Smelting.. 139 137% 187% 198%.
Am Steel Fdy. 52% 52 52 52%
Am Sugar.... 69% 63% 63% 70
Am Sumatra.. 58% 53 58% 53%
Am Tel A Tel.. 175% 174% 174% 175
Am Tobacco.. 1’6% 156% 156% 157%
Am Tobacco B. 156% 156’4 1'6% 156%
A W Wks new 55% 56% 55% 56
Am Wool pf.. 44% 44% 44% 44%
Anaconda..... 65% 65 65 tS’s
Archer Dan... 73% 75% 75% 78
Armour 111 A.. 13% 17% 13 1?%
Armour 111 8.. 10% 9% >0 10%
Armour 111 pf. 86 86# 66 84%
Asso Dry Gds.. 41% 40% 40% *l%
Atchison, .... 1a5%l a 5% 185 I®. 1854
Atlantic Refg. 143% 138% 139% 1434
At Gulf W 1..! 47% 47% 47% 4:%
Auto Sales Co. 10 10 10 9
Bait A 0hi0... 105% 105 105 106
Bangor A Aris 70 70 70 0
Barnsdall A... 21 20z< 21
Bayuck Cigars 103 ™3 103 105
Beacon 0U.... 154 15% 154 w*
Best ACo €4% 64% 64% 65,4
Beth Steel 53% 534 53,« -44
Beth Stelpf... 117 116% I’ 7 J}
Borden C 0.... 155% 1544 to*4
Co 35% 34% 34% 35%
Man hat 63% €2 62 634
Brunswick Ter 39% 3) 39 ™
Bucyrus
Byers A M... 4. 92% 92% $24 92%
By-Prod Coke.. 71% 71% 71% 73
Cal Packing..., 69% 6-4 69% 69%
CalAHec 21% 21% 21% 214
Canada Dry... 74% 74% 74% 74%
Canadian Pac.. 202 201% 201% 20?%
Case Thresh... 310 310 310 320
Corrode Pasco 74 73 73 74%
Certain-teed... 42 41*4 41% 42%
Chand Motor pl 15 14% H% 15%
Ches A 0hi0... 179% 178% 178% 173%
Ches Corp 63% 63% 63% 63%
ChiG West.... 13% 13 18 1?%
ChiAGWpf.. 26% 25% 25% 27
Chi MA St P.. 34% 33% 33% 33%
Chi MASt P pf 45 44 44% 45
Chi A Nor W... 79% 79% 79% 79%
C R 1 A P./.. 111% 111% 111% 112
Childs Co 43% 43% 43% 43%
Chili C0p8.... 45% 434 43% 44%
Chrysler Mtr.. 70% 70 70% 71%
City Stores B.« 65 83 83% £5
CluettPeab.... 79% 73 79 79
Coca Cola 153% 159 159% 161%
Collins A Aik.. 57% 54% 55% 57%
Col Gas A E1... 107 106 106% l(k%
Colo Fuel A 1.. 58% 58% 58% 56%
Com Credit Co. 31% 30% 30% 31
Com Inv Tr.... 6^ a 67
Common Pow.. 70% 70% 70% 71
Cong Cigars... 70 70 70 69
Consol Cigais.. 65 8b 85 84%
Congo Nairn... 22% 22% 22% 22%
Consol Gas.... 145 I*4 144 147%
Cont Bak A.... 28% 28 23 28
Cont Bak 8.... 4% 4% 4% *%
Cont Can 96% 96 95 96%
Cunt Motors... 12- . .-11% 11% 12
Cont Ins 78% 77% 77% 78%
Corn Prods.... 70% 69% ts%'-71
Coty inc 175 17l ' 171 170
Crucible Steel. 70% 70 70% 70%
Cuba-Am Sug.. 19 19 49%
Cub Cane Sug.. 6% 6 6 6%
CubaCSpf.... 20 18% 18% 20%
Cudahy Pack.. 69 b7% 68% 69%
Curt Ae A Mot. lOC% 97% 93 101 %
Davis&Chem. 53% £0‘ 4 tO% bk%
Del Lac & Wes. 132% 132 132 132
Del A Hudson. IH -183 133 184
Dodge A. 13% 13% 13% 13%
Dodge Pros, pf. 69 67% 67% 70%
Dunhill 59% 59% 59% 59
DuPont 365 364 374 375
East Kodack.. 173 173 173 173
Eat Ax Sp Co.. 39 38>i 38% 39
Etsenlohr 14 14 14 l*‘t
Elect Auto Lite 07% 66 b 6%
Elec Pr A Lt... 33% 33% 33%
Electric Boat.. 114 It it u>,
Elec Storage.. 70% 75% 75% 76%
Erie 52 51% 51% bl%
Fed Lt A Tr... b 2 52 52 52
Fisk Rubber.. 11% 11% 11% 12
I’felschmann.. 63 63 68 68%
Fo:: Film C 0... 77% 76 76 76%
Freeport A Tex 67'4 60% 66% 68%
Ga‘ SnuoA..., 19% 19% 19% 19%
Gen A Tank... 70 70 70 70
Gen Asphalt... 71% 70% 70% 72
Oen Elec I*6 1*3% 1*3% 146
Cen Motors... P 5% 182% 182% 185%
Ger Motors 7s. 125 12*% 124% 125
Gen Out Ad cts 35% 35% 36% 36
Gen Ry Sig.... 93 eg 94%
Gillette Saf Raj 100,% 100 ICO 100%
timhel 8r05... 53% 52% 53 51%
I Gold Dust 85 83 84 86
Goodyear 47% 47% *7% 47%
Gotham H. ... 78% 77% 77% 70
Graham-Paige* 31% 30% 31 31%
THE WASHINGTON TIMES
Frev
High Low Cleat Clos<
Grarnby Mines. b 2% b 2
Gt North pf- •.. 96% 95% 96% 96V
Gt West Sug... 33% 33% 33% 33%
G-eene Copper. 98% 96% 96% 93%
Hartman 8.... 13% 13% 13% 18%
Her-:hf
Houston Oil -., 129% 123 129 135
Howe Sound... 57% 56% 56% 57%
Hudson Motor. Jt 79%
Hupp Motor... 55% 54% 54% 85%
Ind Refining.., 34?a' 3054 31 34%
Ind OH A Gas.. s<% 2354 23% 24%
Inland Steel... 55 55 55 54
Inspir Copper. 21% 21% 21% 21%
InterboroßT. 35 37% 37% 33*4
Inter Agri..... 16 15% 16 16
Inter B Mach.. 119% 119% 119% 119%
Inter Cement.. 63% 63 63 64 r ,
IntConEng... 59 56% 56% 58%
Int Marine pfd. 36% 35% 35% 36%
Inter Mat pfd.. 102% 100% 101 102%
Int Harvester. 263 260 260 262
Inter Nick 91% 89% 89% 91%
L-t Paper..... 69 68% 68% 69%
Inter Rubber.. 9% 9% 9% 10%
Inter Tel A Tel 168 165 165% 166
Jordan Motor.. 10%
Kan City Sou*. 47 46% 46% 43%
Kayser J...... 70 69 69 70%
Kennecott 92 91% 91% 92%
KresgeSS.... 69% 63% 69% 6?%
Lago 0i1....** 31 31 31 31%
Lambert C 0... 106 101% 104% 107%
Lehigh Valley. 97 95% 96 97
Lehn A Fink.. 48% 48% 48% 43%
LigAMyers... 87% 84 84 V7h
Li. A Myers B. 65% 84% 84% £B%
Lima L0c0.... E0 50 50 50%
Liquid Carbon. 67 66% €6% 66
Loew’s Cor. .*. E2 51% 51% 52%
Lorillard 25% 2E% 25% 23
Louis GAL... 34 34 34 24%
Loose-Wiles... 45% 45% 45% 46
Ludium Steel.. 56 52 54% 52%
Mack Truck*.. £O%. 88% B'% 90
MaSqGCorp. 27% 27 27 27%
Magma C0n.49 48% 48% 49%
Maryland Oil.. 35% 34% 34% 35%
Marlcabo 0i1.., IS% 16% 16% 10%
M .Sect 0i1... 24% 23% 23% 24
Miami Copper. 20% 20 20 20%
Mid Cont Pete 28 23 23 28
Mid Steel pf... 222 2J6 207% 2to
(toATex..... 36 35% 35% 35%
MKA TRy pf. 103% .103% 103% 104
Missouri Pac.. 60% 58% 59 €O%
M Paps U 4 113 113 113%
Mont Ward.... 155 152% 152% 155
Moon Motor.. 7% 77% 7%
Motorwheel..* 33% 33% 33% 34
Mullins Body.. 70% 70 70% 71
Munsingwear.. 52% E2% 52% 52
Murray Body.. 43% 41 *2% 41%
Nat P Hess.... 81 TO W fo!<
Nash Motors.. 82 £O% ?0% 82%
Nat Biscuit.... 161% 161% 161% 161%
Nat Dairy..... 77% 76?<z 77
NatPowAL.. 33 32% 32% 32%
Nevada Cop... 22% 21% 21% ?2%
N T Central... 161% 160% 160% 168%
NY CSt L 124 124 124 125
NYNHAH... 56% 55V 55% 56%
Norf A West.. 175% 175% 1?5% 175%
North America 68>» 68 66% 69%
North Pacific. 95% 95% 95% 95%
North Pac cts. 93 92% 93 93
Otis Elevator-• 191 191 131 194%
Owen Bottle M 73 78 78 77 %
PacGAEI.... 47% 47% 47% 47
Packard Motor 73 71% 72% 73
Pan-AmerPete 41 4L .41 40%
Par-Amer 8... 42% 42 42 42%
Panhandle Pro 14% 14% 14% 15
Park A Tilford. 70 €9% 69% 71
Park Utah-... 11% UM
Pat Mln A Ent. 29 29 29 29%
Penn D Cement 22 21% 21% 22
Pennsylvania. 63% 63% 63% 63%
Phil A Reading. 2 t % 28% 28% 29
Phillips Pet... 37% 37 37%
Pierce Arrow.. 12% ll'% 11% 12
Pierce Ar pf •.. 53 53 53 53%
Pillsbury...... 38% 37% 37% 33
PittsCoaL...* 46% 45% 45% 47%
Postum CerN. 63% 61% 61% 64%
PubSerNJ..* 53% 52 52 54%
Pullman new.. 81% 60% 81
Punta Sugar.. 25% 25% 25% 24%
Pure Oil 22% 22% 22% 22%
Radio 166% 158% 159% 166%
Reading 99 93 96 99%
Real Silk Hos* • 27% 27% 27% 26%
Reo Motors. 26% 26% 26% 26%
Repl A Steel.. 52% 52% 62% 53
Reynolds Tob.. 133% 132! J 132% 134
Richfield 0i1... 48% 48*4 48% 47%
Rossini 1nc.... 157 157 157 158
Royal Dutch..* 56% 56 56 56%
St Joe Lead.... 42 41% 41% 41
St LASan Fran 110% 110% 110% 116%
StLAS.W.... 83 81% 81% 82%
Schulte 55% 54,% 54*4 c 4%
Seaboard A L*. 15% 15 15 15%
Seagrave* 14 % 14 14 14%
Sears A Roeb.. 115 112% 112% 114%
Shell U 0i1.... 26% 26% 26% 26%
Shubert Theate 56% 55 56 *b7%
Simmons Bed. 58% 57% 5'% EB%
Sinclair 01L... 24% 23% 2-% 24%
Skelly 0i1..--. 30% 30 30 30%
S Porto R Sug. 40% *0 *0 40%
So Cai Ed 47% 46% 46% 47
South Pac.... 119% 118% ll a % 120%
Southern Ry.. 144% 142% 142% 141%
Stan GA E1... 63% 63% 63% 63%
Stand Milling.. 114 114 114 111
Stand Oil Cal-- 57% 5/'4 07‘4 57%
Stand Oil NJ.. *3% 42% 42% 43%
Std Oil N y3l’4 33% 33% 31%
Stew Warner.. 85% £6% ££% £0
Studebaker.... 67% fcb% 67 63
Sun OH 42% 42% 42% 42%
Tenn Copper... 13% 13% 13% 13%
Texas Co 59% 58% 59 59%
Tex Gul Sul... 67% 66% 66% 67%
Tex Pac Ky.... 162 160% lEOii 165
TexPacCAO... 13% 13% 13% 13%
Tex PL Trust. 24% 23 23 2*
Tidewater new. 17% 17 17% 15%
Tobacco Prod.. 101 99% 99% 102
Timken Roller. 120 119% 119% 120
Trans Con OU 7% 7% 7% 7%
Prices Irregular in
Listed Bond Market
NEW YORK. July l«,-~Prlces
were Irregular with slight changes,
in the listed bond market today. A
tightening in speculative money
and a continued lack .of interest
on the part of < buyers curtailed
business considerably, t - Transac
tions up to noon were about one
million dollars below the total for
the corresponding period on Satur
day. *
Despite the - dullness, however,
recoveries were apparent In most
of the United States Government
issues which had declined last
week.
The Liberty fourth 4%s were
relatively active and higher, and
Improvement also was noted in
3*4s and the first 4H».
Chicago and Eastern Illinois gen
eral 5s series of 'sl, recovered a
frac tlonal early loss.
LOCAL PRODUCE
Eggs—Current receipts, 30c; white
and brown hennery, 32c; stale and
bad not wanted.
Poultry—Alive: Turkeys, 25c;
spring chickens, Plymouth Rock,
Reds. 2 lbs. and over, 40<Z>42c;
mixed colors, 38@40c; large leghorn
chickens, 28#32c; hens, large, 25®
26c; leghorns, hens, 20c. Dressed:
Turkeys. 30c; chickens. 45c; large
fowls, 27®28c; leghorn fowls. 20c;
keats. 70®75e.
Calves —14’/ic.
Lambs —14c.
Cantaloupes—Supplies liberal; de
mand moderate; market slightly
weaker. Arizona. Salmon Tints
jumbos 455, $3.75@4; jumbos 365,
$3.25®3.50; standards 455, $3.00®
3.50. mostly <3.50. North Carolina.
Faison section, standards 455. Sal
mon Tints. >2©2.50. Miscellaneous
melons: Supplies moderate; demand
moderate; market steady.
California, standard crates, Honey
Dew. >1.75©2.25, according to size
and condition.
- Lettuce —Supplies light. Demand
moderate, market slightly weaker.
Colorado, crates Iceberg type, 4-5
doz., $5.50©6.00. Eastern: Supplies
liberal. Demand moderate, market
slightly weaker. New York, 2-doz.
crates Big Boston type, |1.65©1.7-»;
few fancy high as $2; poorer mostly
express. 75e@$l: some refused.
Onions —Supplies light. Demand
slow, market dull. Too few sales
reported to quote.
Peaches —Supplies liberal. De
mand moderate, market weak. Geor
gia. bushel baskets Mileys U. S. No.
1. small size, 31.50® 1.75; few best,
31.90; wasty, 31.25® 1.40; medium
size, 32.00© 2.25: mostly 32; sizes
Hileys U. $. fancy No.' 1, small
size, 3L50@1.75; unclassified very
small size, 31; bushel baskets Gov
ernor Hogg U. S. No. 1 medium size,
31.25. North Carolina, bushel Ijhs
kets Carmans U. S. No. 1 medium
size. 31.254 c 1.50; bushel baskets
Belles, medium size, 32.50.
Potatoes—Supplies heavy. De
mand light, market weak. North
Carolina and Virginia Norfolk sec
tion, cloth-top stave barrels Cob
bler/t U. S. No. 1, 3L50®1.65; few
3L75; some wasty low as 31. Vir
ginia. Eastern Shore, cloth-top stave
barrels Cobblers U. s. No. 1, 31.65®
1.75.
Watermelons-—Supplies, liberal; de
mand, moderate; market slightly
weaker. Brokers carlot sales de
livered, Washington-Georgia, 4 tiers
Tom Watsons, 28-Ib, average., fair
quality and condition. 3275@300.
String Beans-—Homegrown receipts
light; supplies light; homegrowns
supplying the market. -
Cucumbers—Homegrown receipts
light and mostly supplying the mar
ket.
Peas Supplies light; demand,
light; market, steady. New York,
bushel baskets Telephones, mostly
31.75. Alaskans, mostly 3L25®1.50.
Apples—Supplies heavy and not
cleaning up. Demand, slow; market,
weak. Very few sales. Virginia,
Delaware, bushel baskets. Transpar
ants, medium size, >1.2501.50, few
fancy higher. Early Harvest, >l®
J.-5. fair quality and condition, some
small size. 60®75c.
uJi^y n “ S ? PPIIeF ' ,ight:
light, market, steady. North Caro
inn ™h ß, qua,it y and condl
tion, mostly >1.50; tew best, >1.75.
Uuderwood El €5% 65% 65% 66
Union Carbide, m
Union OH Cal.. 50% 50% 50% 5l
Ur ? ion 191% 190% 190% 192%
United Cigars.. 25% 26% 25% 25%
United Drug... 92%
US Hoffman.. 49% 49 49
US Leather... 45% 45% 45% 46%
US Leather A. 65 63 63* b 4%
US Realty.... 79% 79 79 79%
US Rubber.... 30% 30 30% 30%
US Rub Ist... 62% 60% fao% 62%
U S SmeltAßef 46% 43 46 47%
usst ®«’ 135% 131% 134% 136
U S Steel pf... i4i>,' j4|i| t
Univ Pipe n 1 & ,%
Vanadium 69% 68 68 70
VlckaChem... 68*4 68 68 69
Vic Talk Mach. 88% 87% 88 89%
VlrCChem,... 13 jg?; 13%
VfJCOspfwL. 50 4 % 49% 49%
Vlvadau 15 14 J 15 15%
Wabashßß... 70 fc9% 70 70%
Ward Bak 8... 19% 19 p 19%
Warner B Pic. 4?% 41% 41% 42%
West Dairy 8.. 31% 29Ji 29% 31
WeatMd 3f% 38% 38% 39%
West Pacific... 29% 29% 29% 30
West Pac pf... 51% 54% 54% 56
Westing Elec.. 91% 90 90 92%
West A Brake. 45% *l% 4*%' 46
West Elect Ins 22% 22% 22% 23'4
White Motor.. 37 ?g% 36% 36%
White .Sew Mac 35% 35% 36 37%
Willy Over.... 21% 20% 20%
Wilson A 28'4 28 28 27%
Woolworth.... 178% 176% 177% |79%
Wright Aero... 110 137 133 141%
Yellow Truck.. 32% 32% 32%’ 32%
FIRST TRUST LOANS
S'/2%
Money to loan on D. C. real
estate. Applications invited.
Prompt attention.
W. H. WEST COMPANY
Founded 1894
1519 K Street Main 99A©
7*fc« National Daily
GRAIN RANGE
CHICAGO, July 16.—Grains closed
lower today. Wheat was off 1 to
l%c; corn, % to and oats,
to Hie. 1
Wheat opened % to 1c lower and
averaged easier during the fore
noon with scattered selling and
light buying. Weakness at Liver
pool and generally favorable weath
er conditions over the belt was
chiefly responsible for the easiness
here. Early buying was mainly by
shorts and on resting orders. Near
the close, however, support was
more active and prices steadied
slightly. Liverpool wan 1
lower. Receipts were 72 cars.
World’s shipments this week were
larger, at 14.039.000 bushels.
Corn started % to 1c oft and
declined further with selling by
commission houses and locals. De
cember future was at a rev. low
on the crop. Weather e<m ditions
were generally favorable. Buying
support was light. Receipts were
39 Gate followed other grains. Trade
was fair. Estimated receipts were
62 cars.
Provisions closed higher.
IPpOTlHlgh Low ictofl*
Wheat— I I -I— J
. .'.'.Tin* 1128 *i 127% lI2BU
tem be r ... ’.-'M2%I3S*4 I ’•* 1 ’ 1 *
H36%f135% 138%
J——J—J**
77..“ ........|l«i IlGSMill**Va Vi
December J *l_%l
Oat/" I . J
July, old I •;;;;
September, old ..
September, new.. 41N 41*» *»*»!
December, old .. *“*4 4-v
December, new ..I 4**>«l *3**l 43 — I 4-. 1
Rye— I j- I
Tjiv [iOS */4i**«*»
Seotenibir |108«/ilte9 1108 1108*1
Deuber .. . ... .1110 1110%
, Lard— I J 1 ?
n,)v I 12101 12151 1210| 1215
September’ I }2« 42«| W
October .......I 12521 1255] 1 .art
lyecember I 12««l * s * 2 ' IS*** l *2*3
.’.’■■.-••I *2351 12HI 12**1 UNA
Riba— ~~ „L„! I 1
July .pm1.....! ] HO*
CHICAGO STOCKS
CFurnl.hed by W. R, Hibbs & Co.*
' , I Bid lA>k
Armour ACo of Del pfd... 92 04U
Armour * Co of 111 pfd... 8a
B end K 7 «’
Rorg * Beck Co »2‘» *3’4
Chi City X- Co Ry com 11%
Chi City * Co Ry pfd.... 14% 15’ 3
Com Kdison i’H’ 3
Consumers, com ...I 12 I-<4
Consumersl,„ pfd I N*
Fair pfd 1*«
Gossard F. A
Great Lakes Dredge 2*3 2»5
Illinois Brick I 3**4
Kraft Cheese I, «’*<
Libby McNeill A Libby I 10% 10%
McCord Rad A *3
Middle West Itil com 142 142’4
Middle West Vtii pfd...... 118 IM’A
Middle West XTtll pr lien. ,'I2L% 121’4
Midland Steel I 07 % »8
Montgomery Ward pfd.... i 123 125
National Leather I 4% 4%
Pines Winter Front 1107 108
Pub Serv Corp |IOO par,..;lß< 189
Pub Serv Ss pfd !118
Quaker Oats Com... |3lO i
Quaker Oats ptd 1128*41125
Swift A Co |12»*4i134%
Swift Int I 29%i 34
Stewart Warner | 88 I
John R. Th0mp50n.........] 02%
IT S Gypsum . ... J.... J.... I 5755»4
Whal Co ..’....1 15 I 15%
Wrlgrley Co 1 09 J 69%
Yellow Taxi ' 30%' 21
Honeywell | 44 ! 38%
Honeywell pfd ~, [lOl lies
Irregularity Marks
Curb Market Trading
NEW YORK, July 16.—A better
demand for stocks developed today
in. the curb market when the im
mediate credit outlook became more
easily defined for the moment after
a slight relaxation In money. Issues
that had lost ground rapidly in the
forenoon recovered partially, and
the general list took on an ex
tremely irregular appearance.
Nervousness, over the prospects
for another sharp contraction In
the supply of funds produced a
wave of selling in the morning, the
pressure from which drove market
leaders down 1 to 3 points and
caused recessions in all departments.
Among those to fall off and re
bound in later trading were
Bancitaly, Checker Cab, Fox The
aters. Charles Freshman Radio,'
Mavis Bottling, Warner Brothers
Pictures and Saf-T-Stat.
CHICAGO CASH GRAIN
CHICAGO. July 16. —Cash grain
close.
Wheat —None.
Corn —2 mixed, 105%®105 a 4; 3
mixed. 4 mixed. 102; 5
mixed.
2 yellow. 105% @ lOR’/j; 3 yellow.
103*4 @104%; 4 yellow, 102% @103;
5 yellow. 101@101%; 6 yellow. 98®
100: 2 white, 105%@106%: 3 white,
j02%@104 1 /i; 4 white, 101%; sam
ple grade. 95@98.
Oats —2 white. 65© 68; 3 white,
53@68; 4 white, 46@65.
Rye—None.
Barley—Cash, 85@105.
CHICAGOi GRAl¥s
CHICAGO. July 16.—Grains wore
lower in early trading today.
Wheat was off % to l%c with
general commission house aful local
selling; weakness at Liverpool and
general favorable weather condi
tions over the belt figured in the
decline. Buying power was light
and mainly by shorts.
Corn eased % to under heavy
selling and favorable weather. De
cember future was at a new low on
the crop.
Oats were down % to ’»c in sym
pathy with other grains.
' " Vl ---i'l
I COTTON—GRAIN
—promptly quoted and posted with a
full line of gossip covering both markets
n Tenth Floor—Hibbs Building
W. B. HIBBS & CO.
MEMBERS
N. Y. Cotton Exchange Chicago Board of Trade
New York Stock Exchange
Boston, Philadelphia and Washington
Stock Exchanges
STOCK AND BOND QUOTATIONS
—with News and. Comments Constantly Posted in Both
Main Floor ‘and Tenth Moor Trading Rooms
The ONLY New York Stock Exchange House Having
Its Main Office in Washington
MONDAY,
BOND MARKET
I (Furnitbed by W. B. Hibba * Co.)
Dome*tie Honda >✓
Atchlaon Top & S F 4a *B%
Amer Chain 6a. IM%
Andes Cupper 7a |l;7
Atlantic Gulf & wl 55... L.. T7*4
Anglo Chit Nit rale* 7s I»3’i
Amer Agrlc Chem 7%s 165%
Allis Chalmers »s »9
Armour of Illinois 4%e
Armour of Del 5%s 91%
Amer Smelters 5s l«l%
Amer Smelters 6a 108%
Amer Tel A Tel 4e 98
Amer Tel A Tel 5a ’46 163*4
Amer Tel * Tel 5s ’6O 104%
Amer Tel A Tel 5%a 107%
Anaconda Copper 6a 104%
Anaconda Copper 7s 104%
Anaconda Copper 7a .'... 117%
Amer Water works 5s M%
Barnsdall War 65..' 100%
Barnsdall War 6s 92
Brooklyn Edison ss. 104%
Bell Tel Pa Ss 104%
Brooklyn Man Trans 65.......... *B%
Baltimore and Ohio 4a ......... *4
Baltimore A Ohio fd 55.-. 101%
Baltimore A. Ohio 6s 109%
Bethlem Steel 6* »*%
Bethlehem Steel 6s 104
Brooklyn I'nion Gas 5%a... 252%
Clev cm Chi A St Lottis fd 4%S »«
i'down Cork * Seal 6s ****
Cr»ro Clinch A Ohio 6s i * ft 9
levels nd Union Station Ss ..... 102.% ■
Chicago A Alton *3*4
Columbia Gas 5a *’*'•
Chicago Gas Light 5s IJO%
Chile Conner 5s 95
Chicago Rys-Sa * 4
Chicago Bnrl * Quincy 4%a *7%
Chi Mil St Paul A Pac 5a 1»75 »3%
Chi Mil St Paul A Par 5a 2600 72%
Chicago Rock Island fd 4s .... 94
Chicago Rock Island 4%a . i... 92
Canada Northern Rv 4%s 98’4
Chesapeake * Ohio 4%s 1930 .... 99%
Canadian Pacific 4s 'NT
Canadian Pacific "4%s
California Petroleum 5%s ..... 101%
Cuban, Dorn Sugar 7*4a 100%
Chi Mil A St Paul 4%a 95
Chicago A Weat Ind 4a....**.. 86%
Chicago A West Ind 5%a 105
Colorado * Southern 4a 99%
Consolidated Gas 5%w .. 106
Dodge Motors 6s 92%
Denver Rio Grande * West 5a.. 89
Delaware A Hudson 4s 92
Delaware A Hudson 5%s * I* s
Delaware A Hudson 7s 103%
Donner Steel 7s ••
Denver A Rio Grande 4s 89%
Denver A Rio Grande 4%5...... 97
Detroit Edison Sa '4O 104
Detroit Edison 5a 'S3 10*
Detroit Edison 6s 1«7%
Erie Ry 4s J 2%
Erie Ry 5s
Erie Gen Lien 4s
East Cuba S»g 7%s Jo*%
Fiske Rubber 8s
Florida East Coast »» "•? »
General Motors Accept 8s 1W
Great or;hern 7a **'- *
Goodyear Tire * Rubber 5s .....
Humble Oil 5s J *'!",.
Humble Oil 5%s *«2%
Hudson A Manhattan inc 5s L
Hudson A Manhattan fd 5s .... »«’*
Hudson Coal 5s »» A
Illinois Central 4%a ”%
Inter Merchant Marine «• ’”3
Int Tel A Tel 4%s ’4%
Inter Ranid Transit fd 5a.... <
Inter Rapid Transit «a
Inter Rapid Transit 7s ■ •
Inter * Great Northern adj 65....
Julius Kayser 5%s ’l}
Kansas Gas 6s . *
Kansas City Southern fd *" - ••• ’"A
Laclede Gas 5s *•,.»;
Txtulavillc * Nashville 4s »•%
Lorillard Tobacco 5s ’-4*
Lorillard TdbaCto 5%S •• *-%
Liquid Carbonic 6s *»••»
Loew's Inc War. 6" IJJ’
Loew’s Inc xWar ••
Manhattan Elec Ry 4s »» •
Montana Power fd 5s ............
Missouri Pacific 4» ■***
Missouri Pacific S F 5s • •
Morris A Co 4%s
Minn St P* MM
Midvale 3teei
Milwaukee El
New York Edison »s
N Y Central ’»*
N V Central Ss ’"ft rJc,?’
N V Chi * L 5%s A ... • }"5
N Y West Ches A Boa 4%s «*•%
N Y N H A H 75
N Y N H * H fd 4 %>........ *9%
N Y N H A H «s - II|*»
Norfolk * Western 4S . ««’»
North Amer Edison 55.......... 99%-
Nortiiern Pacific 3s *•
Northern Pacific 45.. 9<1%
New Orleans Pub Ser 55... 97
Northern States Power 5s 102
New York Ry 8s A **
New York Steamship 65.......... 105
New York State 4%s 49%
New York Tel 4%s 1«»%
New Tel Tel «s 107%
Nassau Elec Ry 45... 58 _
Oregon Short Line 4S. 98
Oregon Short Line 55...... 106**
O»i« Steel «s 99«-,
Paramount Famous Laskey 65..., 98%
Pennsylvania 4%s '65 100%
Pennsylvania 4%s '6O 101%
Pennsylvania 5s 102%
Pennsylvania
Pennsylvania 7s. IftS%
Pacific Tel A Tel 5s ’37 100%
Pacific Tel A Tel 5s '42 103%
Pacific Gas A El 5s 101%
Pub Ser El A Gas 5s 1«3
Philadelnhla Co 55... *B’4
Philadelphia Co 6s 102%
■Porto Rico Amer Tob 6s SS
Pressed Stdeel Car 5s 91%
Pure OU 5%« 2*
Penn iDiex Cement 6s 99
Seaaorbd Air Lin 4s 60%
Seaboard Aid Line adj 5s ... 45.%
Seaboard Air Line ss 81%
Seaboard Ala A Fla 5s 25’4
Sinclair Oil 6s OS’? 4
Sinclair Oil «%s 98%
Sinclair Oil 7s 101%
Standard OH N Y 4f» 95%
St I, Iron Mt A So 4s 98%
St T. I M Gulf Div 4s 95
Standard Milling 5%s 103
Shell Union Oil 5s 96%
Sinclair Crrud* OH 5%s 91%
S W Rail Tel 5s 1«2%
Southern Pa.-ifir 4s 98%
Southern Pacific fd 4s ........ 9?
Southern Ry 4s 88%
Southern Ry 5s ins’4
Southern Ry 6s 114%
Tenn Pow A Lt «s 105%
Trumbull Steel «s 102%
I'nion Pacific 4%s . 97
Utah Pow A
I’tah Lt A Tr 5s 96
U S Rubber ns 86%
IT S Rubber 7%s 1«1
U S Steel Ss 107
Venietes Sugar 7s 100%
Virginia Ry 58 104’4
Western I’nion 5s 1958 104%
Western I'nion' 5s 1951 102%
Western I'nion 6’>s 110
Wheeling Steel 5%s too
Wiekwire Spencer Steel 7s .... 34
Winchester Arms 7'is 30%
Westinghouse Elec 5s 103%
Youngstown Sheel A Tube 5s •> 100
Foreign Honda
Argentine 6s A 100
Austria 7s 103
Australia 5s 1957 ...., 96%
Australia 5s 195 S 96%
Ri.rdeaux 6» 100%
Belgium 6s l<»0%
Belgium 6’,.s 105%
Belgium 7s 1956 107
Belgium 7s 1955 I°B%
Belgium Ss 110%
Bolivia 7s .' *5%
Brazil 6%s 9>
Brazil 7s 10 ft
Brazil Ss '.109%
Cuban Rv 7%s ‘lO9
LOCAL STOCKS
Capital Traction Co-. 30©lW, 30©
l° s - . so*
ChMtnuP Fawns Dairy com., SO©
>5. 30@»5. , , •
Washington Gas Light, 21 999%,
10®S«%,
Washington Railway and Electric
pfd.. 10@99%.
Merchants Bank and Trust Co.,
10@155.
Mergenthaler Llnptype, 10O100&,
2@loo’/».
National Mortgage and Investment
pfd., 50@>%. < /
AFTER CALL
Peoples Drug Stores pfd., 100©
108. 20©10T%.
National Mortgage and Invest
ment pfd., 100@5%, 60@5%.
Washington Gas Os k, >soo© 104,
600® 104.
MONEY—CaII loans, 5@6 percent.
PubUe Ltlllty BudV" I - I
Amer Tel A Telgs 4s I »8%1
Amer Tel A Telgs 4%5....l »9%l
Am Tel dt Tel CH Tr 55..JL64 I
Ar.scoetia A Pat R R 55..’.1 98% 1100
Ans A Pot Guar t5..,...,.l 98%116S
CAP Telephone Ss tn« |
CAP Tel of Va ss, 5103%!164%
Cap Traction R R 5s 1162 1103%
Chy A Suburban Ss I 88%l 99%
Georgetown Gas Ist 5«....11i»3 i.....
Potomac Elew- Ist 5s lies |
Potomac Klee Cons Sa 1t62%!
Potomac. Klee <a !t#7%i
Wash Alex A Mt V 5»,....l S I
Wash Alex A Mt V Ctf....l 3 I
Wash Arcade 6%s ....Itos >lO3
Wash Raho A An Ss I 81 I
Washington Gas »5........ JlO4 |
Wash Gas 6s aeries A.....:i»3%j
Wash Gas 6s series B 1104 I
Wash Ry A Elec 4a I 92%' 93%
WhMi Ry A Elec Gen Sa., ■ ],,,,,
Miscellaneous Hoeds |
Barber A Ross Isa 5a.... 94% 95%
Chestnut Farm Dairy 6%a.. 106% .....
Chevy Chase Club 5%e...... I*l . ...i
Di C Paper Mfg 6s 94 97
Bdt Joint Mtock Ld Bk Sa. . 10*
W M Cold Rtorsge 5a.... 96 .....
Wash Cone Title 6*. 106 Ift2
Wardman FaHt Hotel 8%5..190« 1*2..
Public Utility Htochs |
Amer Tel A Telga .*..... 174 .....
Capital Traction »: 165 165%
Wssilngton Gag sc*. 96%
NAW Steamboat .360
Potomac Elec 6s pfd 'IIS% 112
Potomac Elec 5%a pfd. ... 106% 1*6%
Wash Ry A Elec c0m.... 40* 470
Wash Ry A Elec pref.... 99%j 99%
NaMo—l Bank Stocks t |
Nut Capital Bank |260 »
Columbia Nat Bank 409 | ....
Commercial Nat Bank 1258 126 S
District National Bank 244 260
Far A Meeh Nat 8ank...'325 f
Fed Amer Bank 335 % 340
Liberty Natl 8ank........ 253 f
Lincoln Nat Bank, ......... t-44« 1470
Nat’l Met Bank ,’;4OS %....
Riggs Nat Bank s»o Co
second Nat Bank ]27S
Nat Bank of Wash ..[306 I f
Trust Company Stocks | |
Amer Hee A Trust Co. .. . '455 |77...
Continental Trust |l3« 1....
Merchants Bank .....ilS* [164
National Sav A Trust isi* IS3O
Union Trust [Jis |
Was|> Loan A Trust ~.50* !....,
■savings Bank Mocks | ...f
Bank of Bethesda ......... | Go 1.....
Commerce A Savings ...... [325
East Wash Sav Bank ! U 1....
Potomac Sav Bank ;ioo '340
Sec Sav A Com’! 8«nk...489 (495
Seventh Street Savg 8k.....'3*0 i....
r s Savings Bank ?.[550 [....*.
Wa> h, Mechanics .. ] 50 [
Fire Insurance Stock* | [
Arney Fire Ins. 7,”.’........ 1300 .. ..,
Fire Insurance ..Jl5O .....
Firemen's Fire Ins I 29
N’a t Union Fire Ins ...... j~25 % .;.. ‘ .
Title Insurance Stocks | ~
Columbia Title 'Tnsunraee.,*l3 .'..,.' s '
Real Estate Title Ins |»ie 22*
This A Inv nf Md com .... I 56 1.....
Wash Cons Title pfd......| 50 ] 52
Miscellaneous stock, _ __j ~ ~
Barber A Ross Inc c0m....1 *s I 30
Chevy Chare Dairy pfd. ... i'106%[108%
(heatnut Farms Dairy com.] 45 i
Chestnut Farms Dairy pfd.' 94
Commercial Nat'l Co pfd... 'lO4 '104%
Securities pfd.. .[1*1%(1OS ’
Col Sand A Gravel pfd I 93% 94%
Federal Storage pfd HO3 >lls
Federal-Amer Co com | 38 I 41
Federal Amer pfd 104 [lot
Lanston Monotype [112% >lls
MeVch Trans A Storage.... 1 28 |
M*reh Pfr A Stge pfd ! 105 % I
v*r5 e ".’. ha,er i-tooiyp* .... 100%|100%
Natl Mtge A Jnv pfd I SU| s**
People© Drug Store© pfd.. , 167'
usm. r l ,y ’’ ,or »» e 113* 1135
. Gr ?*vr ry Co Pfd...[112% 1113*4-
** p Ref A Whrs Corp '• so 154
, ' onv Hal! pfd.......1 85 os
Meeh Mtge com 111 14
**ashn .Medical Bldg Corp. 1135 ....
Mood ward A Lothrop pfd.. [llO ...*.
OIL STOCKS
(Furnished by W. B. Hibba A Co.)
Anglo American Oil New I 17%1 18%
Borne Scremser Co i 48%| 69%
r?h Ck x Ve IJ * ,e I*3 !65
Che,borough Man Co ....1143 1148
Continental Oil Co ...I 16%l 16%
■Cumberland Pine Line Co ..I 97 I 98%
Eureka Pipe Line | 74 I 75
Galena Signal Oil Coin ....I 10%1 11
Illinois Pine Line I Ijog |*i*
Imperial Oil of Canada ..I 67 I ««
Internaional Pete .1 39%| a»%
National Transit Co . ...I 21 123
New York Trans Co I 53 I 55%
Northern Plus Line Co ....1113% 114
Ohio Oil Co J 61% I 62%
Penn Mexican Fuel I 37 I 46
Prairie OH A Gas Co I 47%l 48%
Prairie Pipe Line !2«8 i 269%
Solar Refining Co 1177 1189
Southern Pipe Line Co ..I 24 I 27
South Penn Oil Co ....I 45%1 46
Southwestern Pipe Line Co I 82 I 87
Stand Oil of Indiana . ...! 78%l 74%.
Stand OH Co of Kania ..I 31%1 32%
Stand Oil Co nf Kentucky >126 ’l2B
Stand Oil Co of Nebraska I 41 I 43
Stant, Oil Co of Ohio ....I 7S%| '.4
Swan A Finch Co 1119% i 120%
Vacuum OH Co I 30 I 23
SHORT TERM SECURITIES
(Furnished by W. B. Hibba A. Co.)
I Bid I Ask.
Anaconda 6s . .[lOO’i[loo%
Anaconda 7s [117%|118
Amer Tel A- TH 4s I 99 I 99%
American Thread 6s ] 99%[190%
Lake Shcre A Mich So 45...1 99%| 99%
Southern Pacific 45....,...! 98%i ?9
Swift A Co f 99%' 109 '
TO HOLDERS OF
Third
Liberty Loan Bonds
The Treasury offers a new
34$ per cent. 12-15 year
Treasury bond in exchange
for Third Liberty Loan Bonds.
The new bonds will besr
interest from July 16, 1928.
Interest on Third Liberty
Loan Bonds surrendered for
exchange will be paid in full
to September 15, 1928.
Holders should consult their
banks at once for further de
tails of this offering.
Third Liberty Loan Bonds
mature on September 15,
1928, and will cease to
bear interest on that date.
A. W. MELLON,
Secretary oi the Treasury.
Washington, July 5, 1928.
"iST
1W
By MERRIT E 8. RLKEYSER
NEW YORK, July !«.—TM
rapid development of outlaw bank
ing In New York has hindered
and delayed the efforts of the
Federal Reserve authorities to
divert funds from speculative
channels. .
The campaign to hold brokers f
loans in check has been partially
blocked bjr/theJ|ncr<«sinK money
lending operations of nonbanking
interests. New York banks, in
reporting on the volume of
brokets’ loans, segregate loans
made for their own account, for
the account of out-of-town banks,
and "loans made for others.
Outside Banklag Law
1 I,os ns "made for others" rep
resent the surplus
non-banking companies and Indi
viduals. Such funds are ar
ranged outside the protection of a
the banking law and are not
subject to public supervision nor
restrained by a necessity for
reserves. -( • • . .
They represent outlaw bank
ing, and come from sources
which are purely opportunistic ;
and feel no responsibility for the
stability of the New York money
market. •.
Thev dump funds In when thev
suit their convenience, and rut fit- j
lessly yank them out when they
desire, with no thought of the ef
fect on the situation as a whole.
The rise of the call money rate -
on January 2 to 10 per cent was
in part due to the heavy with
drawal of funds from the call
monev market by corporate lend
ers. who needed the funds for
their own dividend and interest
disbursements.
• New Profit Field %
In recent months, there has
been a wholesale transference of ]
bank deposits by wealthy Individ- |
uals and corporations into call 1
loans. The incentive is plain. 1
Bank deposits yield the bank cus- |
tomer only 2 per cent, whereas
call loans have been yielding well
over 5 per cent for months.
The growing magnitude of call
loans "made for others" in part
springs from & new method of
financing business. Corporations
of good standing have to a large
extent freed themselves from de
pendence on bank Credit by taking
advantage of the favorable securi
ties market to sell new stocks and
bonds and thus greatly increase
their supply of working capital. |
Frequently the cAsh on hand is
greatly above the actual needs of
the business, and this money has
in Increasing amounts flowed into J
brokerage Idans. The practice of
operating on »ma|l in victories,,
;with frequent turnovers, also
tends to » edttce the amount ot
■working capital needed for the
successful operation of a buri
ness.
- . 11 "»■■■—
▼v nv
WHO”
By FRED LAMSO.N
Introducing
THEODORE S. GRAPE|
Theodore S. Grape is president: 1
of the Bearings Sales Corporation I
located at 1907-1909 Fourteenth StJa
N. W. He was born in
I—— April 24j®
1889. and wad®
gr a d u a t e <fjjg|
■ from th uM
Northwestern.®
Univer si tyM
He came to.®
Washingt o n®
®bg| eight year®.
-=■ ago and
ter e d hi *®
present bus. 1-1
‘ Ine ss. tioja
I® XVHS nne
■ the nioneer<||
ln hls
as at
time' the au-.w,
■ tomobile re- ■
■ pl a c e m e n O|
s- -IB P arts ’o n s I O
L■■ ■ neBS was ,n a
n : ~-®| its infancy,®
Two years
ter its estab- d
Theodore a ORARC lishment the®
phenomenal growth of the enter- J
prise necessitated the acquisition B
of larger quarters, which were ob
tained at 1907 Fourteenth St. N. |
W., and which still forms part j
of the. present place ot business. 5
The continued growth of the d
business finally required the oc- 1
cupancy of the entire premises at j
1907 and 1909 Fourteenth St. N. W.:J
and this building has since been.®
purchased by the firm.
The Bearings Sales Corporation’s
sells to the automobile repair trade*®
a general line, of automobile >e«'W
placement parts, shop equipment J
and tools and operates a completely
equipped machine shop doing cyl-J
inder grinding, reboring, rebabbit- ,
ing. piston grinding, fly wheel
work and general machine work.
The shop is in charge of a corn# 1
of experts who are specialists ia J
their line and take pleasure in > j
keeping abreast of the latest me- «
chanical developments.
Mr. Grape attributes the success -i
of the business largely to the es-.,;,
ficiency of its employes. A "new®
policy makes it possible for enwl
ployes to shade in the profits and
become part ow'ners of the busi
ness. Some employes are already »
officers of the company and othereO
may become officers in the future* \
The new policy includes the elec--
tion of the board of directors from J
among the employes, presenting •
each with the beneficial Interest I
in certain shares of stock, and '»•<■>»
year the board of directors is to J
select the employe who has been • j
moat valuable to the company dur
ing the preceding year, who shall j
then be the recipient of an interest 1
in the firm.
l/ook for the announcement of !
the Bearings Sales Corporation i»
the “Who’s Who” column* of t*
day’s Times and Herald.

The Washington times. [volume], July 16, 1928, Page 10, Image 10
About The Washington times. [volume] (Washington [D.C.]) 1902-1939

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The Washington times. [volume], July 16, 1928, Page 10, Image 10 About The Washington times. [volume] (Washington [D.C.]) 1902-1939

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The Washington times. [volume], July 16, 1928, Page 10, Image 10
About The Washington times. [volume] (Washington [D.C.]) 1902-1939