Altoona Mirror from Altoona, Pennsylvania on November 4, 1929 · Page 10
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Altoona Mirror from Altoona, Pennsylvania · Page 10

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Monday, November 4, 1929
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MARKETS FOR TODAY QUICK RECOVERY SHOULD BENEFIT GENERAL TRADE • vri OPENING TRADING IS SHARPLY DOWN Contrary to Expectations, Market Starts With Flood of Selling Orders—Slight Recovery Later. BULLETIN. NKW TfORK, Nov. 4.—The Now York Stork pxrhnnRi', open for the usual triidliiR period from 10 n. m. to 3 p. m. Imlny, will rlimi? tomiir- row, election «lny, nml ronllnn Ihr trading sessions tn thrcn hniirs, 10 to 1 p. m. on WcdiiMiliiy, Thurs- ilny nnd Frlilu.v, imtl rnnc.d tho usual Saturday session, It wns ili-- cUlcil by the honrd of (rovornnrs at a sppcliil mortinjf this morning. By GKOIUIK T. 1IIJO1IKS. (Copyright, 1920, by Aitoomt Mirror.) WALT, STREET, NEW YORK, Nov. 4.— Directly contrary to widely broadcast predictions, today's stock market opened sharply downward, with losses in active Issues running nnywhcre from 2 to 12 points unrt morn. Then followed n. period of recovery In which something llkn 50 per cent of the ground lost was regained, with an Irregular price movement from then on. Stocks came out again In large blocks at tho opening. The turnover In the first half hour WHS 2,038,000 shares. With only two exceptions, Tuesday last, when volume' In the first thirty minutes was 3,259,800 shares, and Thursday, when it was 2,452,100 shares, today was a record high for the period. The first quotations showed that outside buying orders of which so much hod been expected, had been overwhelmed by selling offers. The buy- Ing had been advertised as to corne from small investors anxious to get in on a market which they believed to have been thoroughly deflated. So DAY'S ACTIVITY FINANCIAL GOSSIP IN GRAINJIARKET IN WALUTREET By GEORGE C. SCIINACKKL. By EOIER C. WAt-KGR. (Copyright, 1929, by Altoona Mirror.) if. p. Financial Editor. CHICAGO, Nov. 4.—-Materially lower NEW YORK, Nov. 4.—The stock irlccs prevailed In tho wheat market j markct Ia at)1I going through a proc- much publicity had been given this phase of the situation that amounted to an Invitation to sell stocks and reap the benefit of these buying orders. That at least was the profession^! interpretation, and the result was sweeping declines throughout the list. Probably also there was Helling that represented delayed liquidation. The three days had given brokerage houses a chance to catch up with their bookkeeping an dthey found more Impaired margin accounts, which It was necessary to adjust by selling at the market. Among the initial declines were 8% points in United Status Steel, 1% in North American, lO'/i In Westlnghouse Electric, 10% In American and Foreign Power. During the forenoon session for the most part- the first sales were lows, but the rally did not go far enough to cancel all the loss. In fact, there were some stocks which continued to decline, One of these was General Electric, which was under constant pressure. It opened at 24.U for a loss of 3 points from Thursday's close and by noon was selling at 239, down 13 points. Of course General Electric Is one of the stocks which gives an insignificantly small current return on the Investment. American Telephone and Telegraph, the most popular stock for small investors, started In at 248, which was an advance of I'Xt points from the preceding close. Uetore noon, however, it was 5 points lower. Coffee 1'rlciM. NEW YO11K, Nov. 4. — Coffee futures on the now York coffee exchange opened un' changed to 15 points higher. December 9.15; March 9.00; May 8.80; July 8.85; September 8.85. Klo futures cloned unchanged. Klo 7n on upot 21-21 Vi; Santon 4» 1814-18'Jl. Chicago Produce. CHICAGO, Nov. 4.— Kggs, market firm; receipts 1,821 cases; extra firnt», -IBc<>/50c; firsts, 46c(«'40c; ordlnurieu, 37ci;i!3Uc; nec- ondti, 28C&35C. Butter, market fltoady; receipts 7,420 tubs; extras, 42c; extra firsts, -10c<iHl<:; firsts, :t7Viciii>38c; seconds, ;i(icfu 30'Ac; »tumtard» 4 IVic. New York J'rodnce. NEW YORK, Nov. 4.-— 1'otiitocn quint and easy; Long Island, $2.85<u $0.25; Malnu, $3.75(S;$S.2D. Flour quiet and llrm; spring patents, JO. 60 <3 $6.00. Beet dull; family, $27.00(iP$2S.50, Pork quiet; mess, $28.50. Lard firm; middle went spot, .1110<iiM120. Petroleum firm; New York rullned, Joe; crude Pennsylvania, $!.70ir$3.06. Spirits turpentine quiet, 5-1 'ic<<V5-l Vt«. Tallow dull; special to extra, 7% Hides quiet; Central Ainerlcn, 19c. Dressed poultry dull; turkeys, 3-lcfiMfic; chickens, 25ciii'48c; fowls 20u<u35c; duclm, 18c(fr24c; duckH, Long Island, 23u(<i ; 2Gc. Live poultry quiet; geese, 13c'fi20i!; durks, IQciij'ZSc; fowls, 21c<ir30c; turkeys, 35c«|i 45c; roosters, 20c; clilckens, 20<:(ij32c; capons, 35c(H'40c; urollerri, 22cir3Ke. Cheese easy; state whole milk, fancy to ipeclala, 27',>cftf 21)'/jc; Young America, 2-1 Me ifl/27c. Sweet potatoes easy; Jersey, basket, $1.00 (Jf$1.89; southern, hurrel, J1.7MU $2. (HI; louthcrn, basket, 85c'X,$l 10. Hides (city packer) quiet; native steers, ISVjo; butt brands, ]Sc; Colnnidas, 17c. Butter, receipts 5,845 packages; market •teady; creamery, higher than extras, 45cnp 46'Ac; special market, -HVic. EBBK, receipts 6,075 canes; market strong; fresh nearby fancy while extras, ririe'rcMle; elate whites, 51c<j/'54c; flrrts, 47cffi<50c; seconds, 42c(f|'46c; mediums, 3(irr»4'jc; fresh dirties, 39cQ>43c; fair to choice, 32cfu30c. lly II. C. I'ORHES. If you followed the advice urgently given in this column to buy stocks when the panic was at Its worst, you obtained bargains such as become available only a few times in a generation. Assuming that you bought good stocks, bold on to them no matter what happens. It is extremely Important that the security markets act satisfactorily he- cause, after all, the stock market's behavior does have a potent influence upon Industry and employment—don't forget the employment part. Repeatedly it was emphasized In this column this year that the best thing which could happen would be a gradual calming-down of the speculative! fever and tliu return of stock quotations to sensible levels. The best thing which could happen now would be for stocks unduly depressed to move up unspectaculurly to rational price levels. Any sustained recurrence of sensational , fluctuations would have not a helpful, but a harmful effect upon prosperity. The sooner the stock market gets ol'f the front page the more beneficial will it be for the nation. Extremes rarely are healthy. It wad entirely natural that the market should rebound impressively from its panic depths. 73ut do not overlook the possibility that what Wall Street calls "A secondary reaction" may set in follow- erally higher market on all classes; few salon* better grade fed ulcers and yearling* 25c to 40c higher; top, $16.00. Slaughter classes, steers, good and choice, 1,300-1,500 Ibs., $12.50'il$15.7r>; 1,100-1,300 Ills,, $13.00d|) $10.00;' 950-1,100 Ibs., $13. Kdi .$10.00; common and medium, 81)0 Ibs. up, $8.006.1 $13.50; fed yearlings, good nnd choice, 750-900 Ibs., $13. 'Kt'u $16.25; heifers, good and choice, 850 Inn. down, $7.75<ji'$13.50; COWH, good und choice, $7.2,V'i $10.25; common and medium, $l).2!Hi$7.7D;~low cutter and cutter, $5.00(?C $6.25; bulls, good and choice (beef) $8.75'/|I $10.25; cutter to medium, $7.00 (<i $8.25; veal- em (milk-fed) good and choice, 111,00(1 $14.75; medium, $11.OOfy $11.50; cull and common, $7.00<i( $11.00; stacker and feeder steers, good and choice (all weights) ?9.75Sj> $11.25; common and medium, $7.25<ii>$9.75. Sheep, receipts 15,000; markct fairly ac- ..vc; ml lamlm around 26c higher; bulk better kinds, $12.75'ii/$13.00; top. $13.2H; sheep and feeders steady. Lambs, good and choice, Vi IbH. down, ?12.25iir$13.2!>; medium, $11.00 <fr S12.2!i; cull and common, $7.00(j»$11.00; ewes, medium to choice, 150 Ibs. down, $•1.25 <ii'$5.50; cull and common, $2.25ii»$-t.60; feeder lambs, good and choice, J12.004C $13.00. Ing the overwhelming avalanche of bargain-buying. Should such weakness develop, don't be stampeded into parting with sound investments. General business should hot. be hurt much If the quick recovery n the stock market be maintained. Of course, hundreds of thousands of small (peculators, as well as many not so imall, who were carried away by all he bullish blah sent out during the loom have lost practically their en- re savings. A list of all those whose slock mar<et accounts were sold out and closed ut during the last ten days would make pathetic reading. The purchasing power of all such has been distinctly weakened. Conse- jucntly, especially In luxury lines, here Inevitably will be more or less lurtailment of spending. The gratifying fact remains, however, that conditions, on the whole, are thoroughly sound and there is no reason why better than normal prosperity should not continue to be Today's New Viirk quotations. Quotations furnished for Altoona Mirror by West Sc Co., members of Philadelphia and New York Stock exchanges, local office, First National Bank building. Atcldson lialtlrnori! and Ohio . New York Central .. Chesapeake und Ohio Krlc Oreat Northern ... . Missouri Pacific ... . Canadian 1'uclOo . . . Norfolk and Western High. Low. Clone. 2-M 12-1-V, 120% 121% 202 Vi 19(1 213 207 no'ji ou? 101 101 100 207 BBV4 101 70% 72% '74>/j 204 245 204 -!i 2-15 New Haven lll'A 10UV1 lOU'Xi Northern Pacific 04 93% 93% Chicago and. Northwest . 88 Pennsylvania 1M Vi Reading St. 1,. and S. K. 86 89 'A 86 90% Paul, Com 27 ; !1 Paul, Prd 44%- 124 122 ',4 123 'A 114 >/j 113% 114 'A oday, tho break In stocks and veakness In Liverpool, proving fac- ors In tho depression. Tho action of locks wals discouraging to longs and early all houses had selling orders t tho start. Buying was poor until t .$1.26 for December and at $1.37 1'or day, some support wns uncovered. However, pressure was renewed later. In the corn market prices were off ith wheat but buying against In- omnlties and some short covering -Iped the trado later. -Country offer- ngs were light. Shipments out of Chicago were heavy at 259,000 bushels, 'he cash corn basis was Uc lower. Oats were weak with other grains. ash houses were fair buyers. Pjjovlslons sold lowtr under llquida- on by houses with foreign connec- nns. Open. High. Low. Close. 127 VI 127 VI 123% 12-1% eh" '.'.'.. '. 133% 133% 131 121% njoyed. Manufacturers are not loaded up 25 Vi •12 Ulilon PllClllc 235% 230% 235% Western Maryland .. .. 24 Vi 23 23-Xi IN1HIHTIUAI.S: American Can 131% 124 Vi 124 VI Allied Chemical ....... 249 Amcr. Foreign Power Allls Chalmers Amer. Locomotive 2J5 79 A 60 A 105% 104% 105% 235 80 79 SO'/i 49% Amer. T. and T 248 233 237 7% 4Vi 39 Vi 3V -,a 11 77 % 27'/j 10 60 11% Ylttftburgh Livestock. PITTSBUnr.H, Nov. 4.— HOUH, receipts Armour, A 7 % J Vd Armour, B 4 % 4 W Hendlx Corp 41 It 30V1 Bosch Magneto .^'9 Vj •»> MI Uoverl il% 10'ii Columbia Gas 8-1 70 Columbia Ormnuphone .. ..20% 2<V)ji Corigoleum 10 1.) /» Continental Can 0314 HO Curtlss Wright 12 11% Davidson Cliem 30% Hfi'/j .IOKI Dupont ilcNeinour.i 133 130 1.10 Elec. Storage I3try 811'li 89% 8U'!1 Elec. P. and I, 4-1% 43% 44 Famous Players 00 »2';li M Kreeport Texas 30 Vi 3-1 '.'i 84 '.'1 Goodrich "0 55% 55% Goodyear 74 id 72% 74 General Elec 2-10 230'A 230 Gi-nurul Refractories 7U',i 7lid 71'A Intl. Combustion 13 11 Vi 12Vi Kclly-SprliiKllclil 11% IIli 0% Kotstcr Radio 12'!i 12U 12'A Krcuger und Toll 30 211 20% Lorilliinl 20% 18-li 10% Muntgomcry-Ward 7U'i 08% 08% tntl. Nickel 40 38',i 3«-!i North American 1011 100 101 Natl. Cash H!i SO 80 Nail. Dairy &«'!« .Ill '« 6!) Vt General Foods .., SI'id 01 01'A Pub. Service, N. J 83% 711 70 Radio 40 Id 42 43-!i Radio-Keith 23 22 22 li ReinliiKton-Hund 3B»1 II lift 30y» U. a. Rubber 30% 32 li 33'A Hears, Roebuck 110»i lUUHi lOll'.i Klamlard Gas 122 115 118 A. Kchulto lOVi 10 10 Htnnd. (January 37% 35K 36Tt Trlco :iO',!i :ift% 35% Texas Otllf 01 % 00 00 Utilities P. ami I,. A 34% 3U 34 % United Corp 31)% 32% 33 Untied (Ian und I H4 Vk 32% U3 United Gait and 1 3-Hd 32% 33% United Aircraft 58 60% 08 Warner Urolhers 40% 44 ii 4-I'd Wentlnghousc Airbrake .. ftO'/i 4fiVi 40^ Wostlnghniuu Electric .. 15-1'H 140 14(1 Woolwurth 79% 78 1H MOTOUH: with unwleldly inventories. Merchants lave been kept themselves In a liquid state by buying from hand-too-mouth. Our railroads are prosperous and have been placing unusually generous orders for rails and other equipment. Utility corporations are carrying on construction work on an impressive scale. Agriculture will not be permanently hurt by Wall Street events. The oil leaders, I hear, arc making real . _ress toward an understanding calculated to curtail the too-long maln- alncd disgraceful overproduction. The return of normal money rates will make It feasible for foreign borrowers to obtain loans here, and this should have a stimulating effect upon our already heavy foreign trade. The Inanclal powers-that-be doubtless will cooperate In making money readily available to both foreign and domestic Borrowers of capital for constructive purposes. The prompt reduction of 1 per cent In the New York rediscount rate may do something to mollify critics of the federal reserve board. Their action was wise and opportune. Their tightening of the money screws having—all too tardily—put a stop to the long- continued expansion In brokers loans, there Is no reason why the reserve authorities should not do everything within their power to restore confidence In financial and business circles. It may be that another cut in the rate will become feasible. The danger that, when a crisis arose, "bootleg" money would be hastily withdrawn from Wall Street, was repeatedly sounded In this column. The withdrawal of $1,380,000,000 by corporations and other outside lenders last week emphasizes the desirability of changing this system of financing stock operations, a system which die not attain alarming proportions unti the deceased boom waxed. As one o: the big six remarked to n|j while wrestling with the problem of avert Ing a supreme crisis, "we have no con trol over these outside lenders and they do not feel the responsibility we fee of doing everything feasible to keep .he boat from sinking." Not only was there no undue pres sure by New York bankers upon brok ers to sacrifice customers but, rather they relaxed customary collateral re qulrcments. That Wall Street was no strewn with brokerage failures say much for the conservatism exercise alike by the banks and the broker themselves while the speculative org ruged. There have been so many importan constructive developments since th Stock exchange closed on Thursda; that a lively pace is predicted at th opening today. (Copyright, 1929, by B. C. Forbes.) .lay CORN— ec larch .... [ay OATS— ice larch day RYE— Dtc larch ..., -lay 8.000; market active, Klc to ISc higher; 180-230 Ibs., $8.8511 $0.90; 230-3fi() IbH., S8.25fU'$B.75; 120-140 HIM., J0.25'!J.$9.50; HOWS, $S.OO<if$8.nO. ows, ^H.UUIU ?a.nu. , i "»" »• Cattle, receipts 1,300: market steady to Niish Continental .... Chrysler .... Hudson Graham-Paige . General Motors llupinoblle .... Packard Murmon Mack 25c higher; advance mostly on heifers. Top, $12.60; hulk steers and yearlings. 511.(idit 1 $12.60; fat calves, $0 ftlHi |U.OO; most heifers, $8.ODifr $10.50; good light yearlings and heifers up to $12.00 and better; cutter grade cows, $5.006$6.50; medium bulls. $8.00(^> (9.00. Calves, receipts 850: market nlow and •teady; good and cholre vealers, $17.00. Sheep, receipts 2,500; market stroiiK to 5c higher. Bulk fat native lambs, jrj.nii'.ii $13.50; choice aged wethers, $7.25, few ewes, {4.00Sj $0.00. I'lilludelphlu I'roduce. PHILADELPHIA, Nov. 4.--The warm and rainy weather had a drpn-.-i.itng effect on the local market for many nearby vegetables today. Mushrooms showed the effects of the dampy weather and many wero In poor condition. The market was weak with the best stock veiling at 60cifi'75c per 3-pound banket while • • . buttons brought SOcJjSUc and spots 2ijr(!J> ,, ',. ,;.; i '' 25c. illowe bound .. Reo StuilebakiT .... Willys-Overland White Yellow Cub ,.. 37')» !>•! % 12 •10% 20-K, 10->i 35 79% .'111% 13 % 13% 37 10% 9% 35% 52',» 11% 43 24 1H% 33 70 50 13 50 % 11 36 JOli 9% 30 53 ',4 11% 40% 2-1 % 18% 34% 70 50 Vi 131, 5214 13% 30 10% ice. "~ 138 138 134% 13514 90% 00 98 49Vi 51K 53 % 95 98 '/i 51% 03% 89 Vi 9!) 'A 97% 48% 51'A 53% 89 V4 95 % 97% 48% fil',<s 63 Vi 106 106 105% 105% lll'/t 111% 110'Yi 111 113% 113% 112% 112% LOST EXPLORERS FOUND; ALL WELL (By United Press.) WINNIPEG, Man., Nov. 4.—The JacAlpine party of eight explorers, reolologists and airmen, lost since ,ept. 8 in the barren lands of North- rn Canada, has been found alive and safe on Victoria island i nthe Arctic jcean, according to a radio message oday from the Hudson bay steamer Tort St. James.. "MacAlplne and party found. All well, located Cambridge bay." The members of the party were Colnel C. T). M. MacAlplne, Toronto, eader of the expedition; Pilot C. A. Thompson,' Winnipeg; Pilot Captain J. McMillan, Kdmonton; Major Robert F. Sake, St. Catharines, Ontario; Richard Pearoe, Toronto, ' editor; Alex Ullne, Winnipeg, mechanic; Dan Good- woon, Hamilton, Ontario, mechanic, and A. D. Broadway, Winnipeg, geologist. ITIES SERVICE CURB SENSATION By JOHN A. CRONE (Copyright, 1929, by Altoona Mirror.) NEW YORK, Nov. 4.— Cities Service common, opening at 41%, up 4% points, on a block of 225,000 shares, furnished a sensation In curb trading today, as an avalanche of orders started the market Irregularly. The specialist handling Cities Service common was so swamped with orders that it was more than an hour after the opening gong before he was able to open the stock. The .Cities Service opening was the largest in the history of the New York curb exchange. It compares with 180,000 shares of Cities Service last week, which exceeded by 80,000 shares the previous records held by Commonwealth and Southern and General Baking common. Virtually everyone connected with the curb was on the floor or at their respective post of duty at 8.30 a. m., or nearly ninety minutes before the opening gong set In motion a market characterized by huge volume and irregular ess of readjustment and Is a dangerous plaything for any but the most experienced and careful traders. Heavy margin dealings by persons unable to raise large sums of money on short notice may bring disaster to their accounts. Such reaction as last week'.* Is not the kind to be gotten over so quickly. There Is bound to be a long period of readjustment. The market may rise very quickly, but It Is bound to have some precipitous descents, according to observers, and none but those with large amounts of funds should play with the fire. The gyrations of the stock market do not indicate that business is going to fall as rapidly as did stock prices. However, the fact remains that thn I stock market Is a .good barometer ot business.' The recent break will have a bad effect on many lines immediately, especially the luxuries; later others may be affected. No one knows what will happen. There is no danger of u panic, because of the low inventories and generally stable status of Industry. If the traders can be induced to curtail wild speculation there will be no danger at all In any phase of the economic situation. There are two outstanding reasons for the recent market break. Thu first is the huge amount of poorly margined accounts whose holders could not raise more margin or buy their holdings outright. The second Is fear, the bugbear of all highly inflated markets. Sudden declines that touched off forced liquidation in turn generated the fear that broke the market. The reasons for the decline are too involved to bring up here. They have been in the making for many months. The margin trader makes money when prices are rising. His profits are much larger than his expense of operation—call money and commissions and taxes. But when prices are going down and money is relatively high, he loses much more than he would have gained in changes of the same relative amount. Te cost of a margin account is very high compared with the cost of another form of business. To make a hundred dollars it is often necessary to spend 550. A gain of a point may mean a profit of $50 while a loss of a point from the purchase price may mean a loss of $150 in the same account. Of course, money cannot be made in large amounts without falrjy great risk. But a small or large trader can so adjust his account so that he can ride through a fairly severe reaction. The great difficulty in recent markets has been the habit of pyramiding profits. Hence the losses when ,the break came were much more severe in that many had never realized their profits. Then they not only lost the profits but their original investment was swept away, in some cases, representing life savings. The solution is to buy the best stocks—stocks that pay dividends and have prospects of continuing these dividends. For tht> more conservative, good bonds should be taken outright and put away. The PRESSURE EXERTED TO CET TARIFF BILL (Continued from Page i.> protection will have been granted. In other words the Democrats are seeking to record themselves as favoring the protective tariff but they are unwilling to accept a Republican-made tariff. While the job of making any tariff bill is complicated and requires a good deal more time than appears to be available between now and the regular session of congress, the belief is beginning to grow that many of the old rates of the Fordney-McCumber bill will be retained as a final compromise. This in itself Is one of the ways by which consideratfo nof the tariff measure could The simple truth is be accelerated. that there are more elements anxious to get the measure passed than to see the work that has already been done so for naught. HUNTERS LEAVE CITY. A trio of hunters including Rev. Burleigh A. Peters, pastor of the Grace Lutheran church; R. D. Marlin, barber at Eleventh street and Chestnut avenue and Nicholas Casanave, also of this city, spent today in the wilds of Huntingdon county near Spring run in quest of game. They expect to return ' tonight. HIGH PRODUCERS SHOWN BY TESTS The report of the Blair County Cow Testing association has been completed for the month of October. Twenty-four herds were tested, with 201 cowa In milk and fifty-six cows dry. Seven cows produced over 50 pounds of fat und forty-two cows produced over 40 pounds of fat. Nineteen cows produced over 1,200 pounds of mlllc und forty-live produced over 1,000 pounds of milk.. price trends. The opening quotations revealed mixed trends in international stocks, the majority of which, however, were slightly lower. Oils were higher, but utilities were lower. Aviation, motors, industrial and Investment shares likewise moved Irregularly. Within the irst ten mnutes the tape fell behind loor transactions. JMiilurn Cows. Owner P. H. Mat tern .......... 1,354 W. T. Kcphurt .......... 1,150 Emory Sollenberger ---- 1,733 G. Clulr Smith ..... ..... 1,001! O. Clulr Smith .......... 3,071 F. H. Mnttern .......... 1,103 Preston C. Smith ...... 1,5-11 I.lm. I,bn. llutter- Mllk fnt 74.5 Central Alloy .... Cast Irou Pipe . .. Crucible Cult atutes Vanadium Oils U. a. Sleel R.-lMlblle Reading C. and 1. 91 55 41) 191 94% 42 lull 90 «4% 19 VI 87% 05 ',4 00% 00 % 38'A 40 183 Vi. 1S3% 82 Vi *2 U 16 Vs 10 % Amur. Smelting . .. Anaconda Calumet and Hecla t'erru de Pasco The potato market was steady for good i/"* 1 ','"'.",'!" •tock with Maine Green Mountains selling at $2.50©$2.76 per 100-pound suck with poor stock showing decay at fl.TOfii $2.25. Pennsylvania round whiles sold ui $2.UiK/S2.75 with a few fine quality us high us $2.90. Sweet potatoes were llrm with yellows bringing 75c<ij85c per % basket ajid reds at 76^1 90e. Beets and carrots • gold at 2c ii 3c per bunch. Wired celery at lOcig'ISc. Spinach was about steady with nearby (lock selling ut 50c(|05c per bushel wllli a few sales at 75c. Pumpkins brought 10c®25c per % basket. Puisnlps, Oflc(>'i65c. Butter ruled firm on top grades and con- Turned easy on lower scores. 93 score. 46Vic; 92 score, -li%c; 91 score, 43%c; 90 score, •lie. Eggs flrni; fancy storage held 40c!if-)lc with poorer quulliies Irregularly lower and dealers not Inclined to offer concessions. t'hlcugo Uventock. CHICAGO, Nov. 4.-Hogs, receipts. 35,000, Including 11.000 -Jlrcci; market 15c to 25c higher: native trade very slow at advance; top. $9.60; bulk good to choice 180-290 Ib. weights, J».45'u Jd.55; around 330 II). weights. $9.00. Butchers, medium to choice. 2W-350 Ibs.. $8.75^ »9,60; 20U-2MJ Ibs.. $9.15 Cl $9.00: 1HO-200 Ibs.. $9.15f|| $9.110; 130-100 Ibs.. $8.90''./ J9.60; packing sows, $8.00'i/> J8.75; pigs, medium to choice, 90-130 Ibs., $8.50 Ti 59.25. Cattle, receipts 16,000. calves, 3,000, ecu- Kenni-cou Mllinil Miigma Copper Nevada Tenneb.se,.' . U. ii. Bmeltlllg OILS: Atlantic: rUflninK UarnHdull Indian Kellnlng Independent Blandurd Oil N. J Mhl Continent Mexican Beubtuird Continental Oil Standard Oil N. Y Phillips Pete I'un Amurlcun B Pure Oil Klchllekl Oil Sinclair Standard Oil Calif Sun Oil Shell Union Tidewater Assa Ttxas Company Union Oil. Calif lioucton Oil Sales, 6,188,700 ft'.u Money, 0 per cent. HIM, U8-S, 09 -17 '/ 13'.; •a -:-t -17 27 % 24 % 25V, 30 29-)i 3-1% 34% 02 -)i 25% 30 : !i 30 08 70 25 14% 58 \ 54 85 1)5 !i 36V, 80 '.» 07 U •mi •11-1, 85 US'.i 37 80 >t 07 li •17 '.i 311 ',i 73 -)i 34 .',8 37'.i 13 VI t'lltll MAUKKT. Pennroad Corp it Ford of Kngland 13la General Theatres S3 ?t Clly Scrvlca <lfc •I5M, 21) 1 . a 24 U 25 U I Hi 2U'i IU'1 2S '-1 37 U :i3',i 62 24')» 80-)i 21) U7]i 70 2-1 •;; 11% 58 i,i 5214 51 13 33% 38% 45 'd 2U-', 2-1 '.i 8IF-1 2'J Vj Itl'd 28 Mi 37'i 311'-, 82 ', 21'-* 30 !i 2U 68 7U 2-1 •->•, 14 : V« 56 V, 52 >; 54 13 33' 38 ! Emory Brumbaugh W. T. Kcphurt Calvin linker Emory Sollenberger . George E. Stultz G. Clfilr .Smith Thurman Hlleinan ... T. D. Hortun J. M. Hoffner Kmory Brumbaugh . Emory Sollenberger . George 13. Stultz T. D. Horton If. H. Muttorn J. M. Delozier T. 1). Horton T. I). Horlon G. Clalr Smith T. U. Horton Kmory Sollenberger . Emory Sollenberger . George E. Stultz Clalr Parks K. S. Bagshaw R. A. Eastep Emory Brumbaugh . Emory Huntsman ... Emory Sollenberger . George E. Stultz Preston C Smith .., Emory Huntsman .. J. M. Duluzler COWH With I T. D. Horton T. D. Horton E. Stultz .. T. n. Horton Emory Huntsman .. K. S. Bagsbuw Thurman Hileman .. F. H. Mnttern J. M. Hoffner G. Cluir Smith Hurry Lower Emory Brumbaugh K. S. Bagshaw George W. Gates .... F. H. Muttern J. E. Black T. D. Horton George E. Stultz .... J. M. DelozliT K. S. Bagshaw George E. Stultz .... J. M. HoffniT M. LebcrUnger .... 1,104 . 1,355 . 908 . 1,547 1,331) , 1,131 . 1,355 . 1,318 . 1,200 . 1,252 . 1,496 1,423 . 1,128 . 862 . 1,004 . 884 . 747 . 1,181 . 1,268 . 936 . 1,293 . 918 . 933 . 1,104 . 1,150 . 1,039 .' 1,538 . 1.473 . -719 . 1,047 . 1,014 949 bt t'ulf. . 983 . 1.006 . 753 . 99S . 905 . 719 ,. 750 .. 713 .. 487 .. 924 .. 704 .. 946 .. SOI) .. 378 .. 818 .. 750 .. 729 .. 505 085 .. 555 .. 474 57.5 57.2 5-l.fl 53.5 5218 52.4 49.7 48.8 48.1 48.0 47.9 47.5 47.4 47.4 47.2 47.1 47.0 45.. 5 45.1 44.8 44.2 44.2 44.1 43.7 43.2 43.1 • 42.7 42.2 42.0 42.0 41.6 41.0 41.5 41.2 41.0 40.8 40.6 40.6 40.3 38.4 36.1 35.0 31. 31.6 30.0 29.9 29. C 28.0 27.8 27.8 27.7 27. 26. 25.8 25. 25. 25. PUBLIC IS BACK IN STOCK MARKET (Continued from Page 1.) orders. Wires had worked twenty- 'our hours a day to bring in these orders on Friday and Saturday. They •epresented tho attempt of the smal :raders to recoup their losses in many nstances and if all were executed tho lubllc received much better prices .han they had been expecting. REAL ESTATE TRANSFERS. John C. Morrlssey, widower, to 3rvln T. and Anna M. Craig, his wife, Snyder township $1,00( Mitchell A. Smith to Margaret E. ' Smith, his wife, Logan township.. $1 Carson H. Brady, et al, by sheriff, tn Union B und L. association, 2021 Oak avenue, Alloonu $400 James L. Attlg et al, by sheriff, to Altoona B. and L. association, 620031 East First avenue, Altoona younger trader who can well afford to ose some money can play with the ively speculative issues, but It would be foolhardy for him to put all his effort and capital into this class of stock. He too, would benefit from a strong box for emergencies, however, TODAY'S JJANK. The bank clearances for the day, an nounced this forenoon by the Altoona Clearing House association, amounted to $239,044.78. TOO LATE TO CLASSIFY LOST—FOUND ^SXS^SXS^X^^^SXNX^^w-^%x^^ MALE GERMAN POLICE DOG, iLOST. LI cense No. 8186. Finder Dial 2-1316. FINANCIAL NOTES. (Copyright, 1929, by Altoona Mirror.) NEW YORK, Nov. 4.—New York ank clearings, $1,134,000,000; New York bank balances, $292,000,000; New York federal reserve bank credit baK .nces, $179,000,000. LOAN ISSUE NOW IN HAND OF YOIERS (Continued from Page 1.) ever been taken In Us development Just at this time the city has been having an unusual growth, due to annexations and the natural increase of population and the obligation confronts the people to provide rather extensive additions to the school plant. Tho erection of the Keith Junior High building Is now well'advanced. It will, In part, meet the requirements of the hour. Money is required to complete' the work upon it, which must be raised either by borrowing or by additional taxation. Additional elementary school space is also required. The boys and girls of Altoona constitute her best product. They are entitled to educational facilities and opportunities equal to the .best to be found anywhere in' the nation. We have done well by them In the past, but we must do more In trie future for the standards of life are higher than they have been in the past and they will be still higher In the future. More and more they are taking the high school courses. Our high schools are crowded and the situation must be met by completing the Keith building and providing for future additions as the needs arise. Altoona can make no better Investment than is contained in the $2,000,000 bond issue to be voted upon tomorrow. It will be an Investment in an intelligent citizenship, which la the foundation upon which our beloved country stands. Let every eligible voter do his or her duty tomorrow. Wi B» *»*.**•»«~ —-— -• , wAstfiNGtbW, t). c, NOV. 4.— UrUte'd States treasury balance as announced today as of close of business day, Nov. 1, was $203,038,512. dua'-| torn receipts for the month to $2,265,380.34. Totai expenditures, S6,- 039,275.11. Earnings of the Air-Way Sanitary System Manufactured by Air- Way Electric Appliance Corp. of Toledo, Ohio. Net earnings of Air-Way Electric Appliance Corporation for the . nine month* ended September 30th exceeded those for the same period of 1928 by 31%, totaling $1,255,210 after depreciation and Federal taxes. After payment of Preferred dividends, this represents an earning of $2.87 per share for the nine months on the 400,000 shares of Common stock outstanding. For the past two years, last quarter earnings represented in excess of 33% of the total for the year and as the month which ends today gives evidence of being the largest from the standpoint of net profits in the history of the Company, it is expected that the Common stock earnings for the current year will be on the basis of from $4.25 to $4.50 per share. The Company's financial position is particularly favorable, the October 1st balance sheet showing a relation of Current Assets to Current Liabilities In- the ratio of approximately 10 to 1. T. W. Cole is manager of the local Air-Way Branch, located at 1031 Green ave.—Adv.' HELP WANTED—MALE S^S*^^' MEN Why waste time In positions that have no i future? We need five men, complete sales force; work Is permanent and advancement to executive positions Is assured. Real Silk Hosiery, Altoona Trust Bldg., Room 38. Unfurnished Apartments O-ROOM DUPLEX APARTMENT, ALL modern conveniences, hardwood floor. Hot water heat. Gas range nnd Ice box furnished. Reasonable rent. Inquire 406 Lexington Ave., or Marcus Jewelry store, 1325 llth Ave. Frank Baylcs, et al, by sheriff, to Vigilant B. and L. association, Wertz extension, Greenwood, Logan township Gertrude E. Fetters and husband to Adeline Fetters, Beum's addition to Norlhwood Adeline Fetters, single, to Gertrude E. and John A. Fetters, her husband, Beam's addition to Northwood Elmer A. Young and wife to Dorothy nefirahlelle. Frankstown township.. Dorothy DeGabrlellc, single, to Elmer A and Alma E. Young, his wife, Frankstown township Charles Leo Stoney and wife to W. G. Munn, West Chestnut avenue, Altoona \V. G. Munn and wife to Charles Loo Stuney and Edith Jane Stoney, his wife. West Chestnut avenue, Altoona The Baker Estates, by trustees, to Henry Bennett, Lakemont, section 2, Logan township Mary Smlthmyers, widow, to Joseph and Ella R. McSorley, his wife, 1521-1523 Twenty-fifth avenue. Altoona Samuel Leroy Hoover and wife to John C. Hoover, 118 Willow avenue, Altoona John C. Hoover, single, to Samuel Leroy and Lucy B. Hoover, his wife, 118 Willow avenue, Altoona BUSINESS TOPICS. 1200 $150 $1 $1 $1 $1 $1 NEW ORLEANS, Nov. 4.—The crops of Louisiana this year will bring farmers J167.747.000, ac&ording to the state officials of the agricultural department. This is a gain of J10.000,000.over last year, due largely to the increase of sugar and cotton crops. Animal products from tho farms brought in $31,770,000, about the same us last year. YOUNGSTOWN. O v Nov. 4.—Ohio's employment situation continues excellent, with practically all skilled and semi-skilled help well employed. With the finishing up of the harvest, there is un influx of farm labor to the large manufacturing cities. s«ss®{\\\\\\\\w\\u\ujv* r -\ t ~rxtt///ffAm SHARES IN AMERICA" The moderate investor can now diversify with security and mar* ketability Diversified Trustee Shares, Series B, are issued over the . signature of the Chatham Phenix National Bank and Trust Company, New York und are secured by the deposit of fixed proportionate shares in leading American corporations operating in 48 States. These Shares combine security of principal, marketability, participation in profits, convenience and other valuable features in one security. For example, about $115 will purchase the minimum block of 5 shares, representing ownership in New York Central Amer. Telephone & Telegraph Du Pont United States Steel Standard Oil of New Jersey and 25 tions. other great corpora- Public confidence in the soundness of this investment Is shown by the fact that millions in "Diversified" are out- utanding in 48 States and 14 foreign countries. Ask for Booklet "Shares In America" FAY BROTHERS INVESTMENTS Lincoln Trust BUlg. Dial 9348 P E RF E C ' • heard of R OT E C Ti N ''' ' ' ' Does your insurance replace income lost through illness or injury? Or is it merely protection for your family in case you die? Many a man, sure he is protected, comes to himself in the deluge of hospital and doctor bills and other unexpected expenses— after accident or sickness has cut off his pay check* An Illustration of the PERFECT PROTECTION POLICY $15,000 Payable for loss of life from accident. $10,000 Payable for loss of sight, two hands, two feet, or one hand and one foot from accident. $25,OdO Payable for loss of life, o r $20,000 for I losa of sight or two members, if due to a collision or upset of a private, pleasure automobile while traveling therein. $50 Weekly if disabled by accident. Payable for 52 weeks for occupational disability— 208 weeks additional for permanent dis> ability. J75 Weekly indemnity for hospital confinement for IS weeks. «5Q Medical attendance indemnity for non- disabling injuries. $50 Weekly indemnity for 52 weeks, if disabled by sickness. S600 Pcr y car in addition if totally and permanently disabled by accident or sickness. No more premiums to pay and no deductions from the amount of life insurance due your family. $5,000 Cash to you at age 65, or $5,000 Cash or a substantial monthly income in event of natural death. ISSUED IN LARGER OR SMALLER AMOUNTS With PERFECT PROTECTION you needn't worry about loss of income in any emergency If you want a real sense of security* find out about Perfect Protection— backed by'the Reliance Life Insurance Company—an institution With nearly $500,000,000 of insurance in force and assets exceeding $60,000,000. Perfect Protection makes your Income sure in every crisis while you live, besides caring for your family when you die. And it costs much less than you would probably think. Will you take one minute of time to find out about it? This coupon brings you all the facts FREE One out o/ evtry three Per/cct Protection Polic>hoM<rs presents a i Aim /or duabiiit> every >ear. RELIANCE LIFE INSURANCE COMPANY Dcpt. 3T, Central Trust Building, Alioona, Pa. GENTLEMEN: Without any obligation on my part, please tend me your free booklet giving complete details of the Reliance Perfect Protection Policy. Namc- Addreas- Occupatiou- -Buthdatc •:,V A

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