Altoona Mirror from Altoona, Pennsylvania on November 8, 1929 · Page 33
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Altoona Mirror from Altoona, Pennsylvania · Page 33

Altoona, Pennsylvania
Issue Date:
Friday, November 8, 1929
Page 33
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ALTOOtfA MIRROR—FRIDAY, NOVEMBER 8, 1929 MARKETS FOR TODAY FURTHER RECOVERY IN STOCK MARKET Later Realizing Brings About Irregular Price Movement —Is More Nearly Like Normal Day. BULLETIN. <YEW YOKK, Nov. 8 — The Vork stock market, the New York curb market arid C'lilcngo and Boston curl" market* will bo cloned to- moiTOiv, Saturday, Nov. 0, Chicago grain am' livestock market* remain open. All markets will remain open on Monday, Nov. 11, Armistice day, except the Chicago grain and Chicago stock markets, which will hu closed. The New York Stock exchange will observe Armls- lino day by u two-inlnuto cessation of trudlng at 11 a. m. By OKOHOK X. HUGHES (Copyright, 1921), by Altoonu. Mirror.) WALL, STREET, NEW YORK, Nov. 8. — Further recovery followed by sufficient realizing to bring about an Irregular price movement characterized today's stock market. Volume fell off and the market was r.iore nearly nor- than it lias been in a week. e sharp reduction In brokers' loans announced after the close Thursday. by the federal reserve, which brought the cut practically up to $2,000,000,000 in two weeks, together with the pronounced rally the market had staged in the preceding session, resulted in a predominance of buying orders at the opening today. Most stocks opened higher and most of them Increased: their gains in the first hour. Then followed a period of prom-taking and some recession from the highs but with little or no sign of distress selling-. The real feature of the day was the way In which volume fell off. In the ilrst half hour the turnover was 877,300 shares whereas In the same time on Thursday it was 2,400,500 shares. In fact today's Ilrst - frty minutes of business saw fewer shares change hands than any time since ' Monday, Oct.. 28. It will be remembered that on that day the market hesitated- for an hour or so on the brink of collapse and that although the full day's business was over 9,000,000 chares, the bulk of It came after prices had begun to crumble. Today's market w-.a as unlike that as it well .could be. There were some largo blocks bunched on the ..initial sales but nothing like what has been seen'for the past week. Although the ticker fell twenty minutes and more behind, the price movement held within. a narrower range than at any time In the recent trading. This was what was to be dessired. It pointed to the cessation of forced selling. Among the gains H the first hour were 30 points in Auburn. Automobile, 25 in J. I. Case, 5 in General Electric, more than 5 in Public Service of New Jersey and nearly 6 iri No»th American. Steel, General Motors, and other stocks which had led the rally Thurs- were not much changed. They »ad to accept realizing by those who had supported the listf Thursday. This, , ,teo, was a normal development. ' As far as the individual price changes went, there was not much to be said. In the main the market was still readjusting :s technical condition and had little time to reflect trade or business trends with regard to specific stocks. The oils made a good showing, particularly the shares of the independents, and the same was true of the low-priced copper stocks. Recoveries in the motor group were not as uniform. Mack Trucks made one of the largest gains, presumably because of the high yield, the stock gives at the market and. the highly favorable ninth months' income statement. Mow York Produce. NEW YORK, Nov. 8.— Potatoes quiet and steady; Long Island, $2.85(^56,25; state, f3.7S{j>?4.2G; Maine, $3.75<3>$5.10. Flour quiet and firmer: spring patents, 4e.JOteJ8.80. Beet steady; family, 527.00@J28.50. Pork steady; mess, $28.60. Lard lirm; middle went spot, .1100®. 1110. Petroleum steady; New York refined, IBc; crude Pennsylvania, f;.70@.f3.0B. Spirits turpentine easier, 53'u.c(fi>54.Y t c. Tallow quiet; special to extra, 7%c{)>8Mic, Dressed poultry weak; turkeys, ( 30c©50o; clikkena, ZBcffiSSc; (owls, 20c@38c; ducks, 2(lc<riiJ!6c; clucks, Long Island, 24c@27c. Live poultry steady; geese, 13ciO>21c; ducks, 18c@2gc; fowls, 22c@31c; turkeys, 300 & 45c; roasters, !ilc@>22c; chickens, 22c<jj>30c; capons, 30e8>40c; broilers, 23c@35c. Cheese steady; state whole milk, fancy to specials, 27%cft>20%c; Young America, 2t'/4o ©270. Sweet potatoes firm; Jersey, basket, 51.00 ©S2.25; southern, barrel, ?1.,«I3>$2,50; southern, basket, |1.00{j>fl.2B. Hides (city packer) dull; native steers, 18 We; butt brands, ISc; Colortulos, I7c. Hides (common) dull; 'Central America, arc. Pittsburgh Livestock. PITTSBURGH, Nov. 8 — Hogs, receipts 2,500V market Me higher; 160-230 IDS., SO. 80 <&«fl.85; 210-300 Ills., mostly lf9.50@S9.75; 120-140 Ibs., $0,25&$0.50; sows steady at Cattle, receipt) 25; market unchanged. Calves, receipts 80; market steady; goofl to cholct vealers, JU.BO@I18.BO. Sheep, receipts 1,800; market active and gully steady. Bulk rat lambs, $11,60® ' *13.60; light weight wethers down to ffj.00. i Pittsburgh I'roduco. PITTSBURGH, Nov. 8. — Live poultry- Hens, 16c(ai28c; roosters; 18c@10c; geese, 18e<g>ZOcj springers, 20c@26e; ducks, 2Sc@ 25c. Dressed poultry — Hens, 40c@45c Esss— Fresh, &5e<jj>60o; western select, 45o current receipts, 42c@45c. Philadelphia Produce. PHILADELPHIA, Nov. 8. — Spinach met a slow demang on the local market today and nearby stock sold at 250© 60c per bushel. Sweet potatoes were weaker with reds bringing 85cf/t§1.00 and yellows 76c&9Qc. Potatoes were about steady with Pennsylvania round whites selling at ?2.80®$2.85 per 100-pound sack while Hulnoa sold at *3.23@J3.40 per 120-pound sack. Beets and carrots wure 'steady at le@2%c per bunch. Wired celery steady at 8c@i2Uc per bunch with a few lots higher. White turnips sold at 20c@2Sc per V, basket. ' Parsnip* at 80e@66e. \ Carrots, 30cfi-60c. Mushrooms slifhtly stronger with prices ranging from 4flc!ftj$l,2fi per 3-pound basket. Nearby cauliflower, »2.QO@J2.50 per crate. Apples moved slowly with Staymau and Delicious |1 75&J2.SO per bushel. Butter declined fractionally. 83 score, x y"C' f B BANKING DAYS IN SCHOOLS ADAMS SCHOOL. Mabel Young .................. $ 5,56 Grace Burkhart ........... ..... 8.72 Elizabeth Utley ..•«.•..„.-.•.•,*... 4.72 Sara Loy ............ ...» ....... 6.82 Elizabeth Carnlll ......... ^....., 4.08 Rita McDonnell ........ ; ...... „ 5.84 Helen Bell .................... „ 3.95 tiraoc Brumbaugh ... ......... 8.00 Winifred Hlleman ............. 3.81 Klla B. Tyler .................. 11.3 8 Hou.ser .................. 2.34 'leona Coppersmith ........... 6.85 Bells Wooiner ................. 12.85 Berth* Brumbaugh ........... ' FORBES THINKS LOWEST PRICES ARE NOW OVER Today'* banking ..... «.. ..... f By B. O. FOUBES. My bold guess Js that yesterday marked the climax of the death-grapple in Wall Street, and that many stocks will not sell even fl below the bottom prices already reached. I repeatedly endorsed Secretary Mellon's advice to buy bonds when stocks were skyrocketing sensationally. Now is the time to buy stocks- paying 1 for them, of course. Farseeing millionaire investors do not hesitate at a time like this to sen bonds and put the money into stocks, confident that far better profits will be realized by and by on the stocks than on the bonds. ' What an opportunity this presents for John J, Raskob to launch his much discussed plan to enable workers and others of modest means to become-Investors In stocks 1 No announcement has yet come from Mr. Raskob, how- B2 score, 4A>&at at score, ««; flO core, 41u. Ej>ga firm. Nearbya light. Fancy whites, TOcfl/mo! mixed colon around 60c. Average atock, 62c(jj)63c with offerings at 54c not cleared. Slorafce fancy packs around 41c, poorer down to 36 ^c. Today'* Mew York quotations. Quotations furnished for Altoona Mirror by Went & Co., members of Philadelphia ' sssasr- looa) offlcei 231 ll*K 190 388 SB™ 74 97 202 Atchlson Baltimore and Ohio .... New York Central Chesapeake and Ohio ... Delaware and Hudson .. Erie Great Northern Kan. and Southern .. .. Mlasourt Pacific Canadian Pacific Norfolk and Western ... New Haven 109 : Northern Pacific 88% Chicago and Northwest , 88% Pennsylvania , . 88VI Reading > 120 Rock Island 115 St. L. and B. F. ... .... 111% at. Paul, Com 23% St. Paul, Pfd. 40% Union Pacific . .... 223% Western Maryland :.K », 20% INDUSTBIAM: American Can 121% Allied Chemical 21(5 : Amer. Foreign Power .. 76 AH'*' Chalmers 45 Amer. Locomotive .. .. 102 Amer. T. and T. .. .... 229 Armour, A ' 7% Armour, B 3% Bendlx Corp 37% Bosch Magneto , 38% Eoverl 934 Columbia Gas 73% Columbia Cramaphone .... 26 Congoleum 18% Continental Can 65M. Curtlsa Aero 10)4 Davidson Chem 33 Vj Dupont de Nemours 114 Elec, Storage Btry 82% Glee. P, and L 41% Famous Players 52% Freeport Texas 32 % Goodrich 52% Goodyear , 73 Vj General Elec. • 225 General Refractories ..... 63 Intl. Combustion 12% Kelly-Sprlngfleld fiK Kolater Radio 10% Kreuger and Toll 28 Lorlllard 18% Montgomery-Ward .r.. 63% May Dept 62% Intl. Nickel 36 North American ......... 91% Natl.-Cash. .,..:... 80 Natl, Dairy > 53% General Food* A ... 40% Fub. Service, M. 3 71% Radio ... 39J4 Radio-Keith 20 Remington-Rand ; 31% U. S. Rubber •.... 29 Sears, Roebuck 105% Standard Gas 108% A. Schulte 1014 Stand. Sanitary 31% Trlco 33 Vt Texas Quit , 57% Utilities P. and L. A 33% United Corp 31% United Gas and 1 31% United Aircraft Sly., Warner Brothero 42% Westlnghouse Airbrake .. 45 Westlnghouae Electric .. 138 zWoolwortb 72 MOTORS I Continental v, ,.-.. Auburn >,. ...,. Chrysler Hudson MI,-..... Graham-Paige ,,.„ ... ,.., General Motors „*,. ... Hupmoblle Packard , Marmon -... .... Mack .... *K. • Nash ...:« •. : Reo .... ' xStudebaker .. ...'.. ... Wlllyii-Overland ... nu .. White Yellow Cab u....... x. M.... STEELS I Bethlehem v ).-••... Central Alloy ,,./ cast Iron Pipe ...t .... Colorado Fuel .... vy,.,, Crucible .-j ........ Vanadium ...... ,,-....-n a Otis 7.1 • U. S. Steel ....-.• v..... Republic <.«,•.. Reading C. and I. if.... Warren foundry ,..;.»« COVVEBS: Amer, Smelting ...„ urn Anaconda i. .-.-* Calumet and Hecla «. Cerro de Fasco ... * sr f . f Granby ..,. .,.*,-.....; Howe Sound ... .»< »-,, .Inspiration ,-.y.i v..' Ktnnecott ...w •..'.TO '.-... Miami ...... t r.v.w Magma Copper ,-,.r. ..-.. Nevada v.iv Great Northern Ore vi> XT Tennessee :•.,.. U. 8. BitMlUng .».«•,,.. 225% 117% 1B2% 10SJ4 lH3Vi 55% 225% 118 194% 190 163 U 65 98 9% 200 33% 47% 10% 43% 23% 17% 29% 73 H B2% III 8% 170 32% 47 10 42% 22% 17% 1 8DK 37'A • 17% 38 U 81% 54 Vi 36% 188 H 76 M 115% 1BH 21* 3-1 70% 32 % 69% 3& 24% 13 38 Atlantic Reflnlng ........... 44K Asphalt •. fit Beacon 19V4 Barnadall Indian Refining Independent ... Standard OU N. J. Mid Continent . Mexican Seaboard ........ 17 Continental Oil 28tt Standard OU K- Y. ,- r ,,, 35% Phillips Pete H.T, ..32% Pan American B 81 zzPure Oil 11 24 Richfield Oil 30ft Sinclair 28 Standard Oil Calif 66% Shell Union Zl>h Bkelly Oil • MM, Tidewater Asso 13 'A Texas Company ....v..... M'/j Houston OU TO 'A Middle States Oil t Sales, 3,214,680 nharen. Hone/, B per cent, zEx-Dlv. 60 cents. zzEx-DW. 31V^ cenva. Olf»B MAKKKT. Pennroad Corp 17',» Ford ot England It'A General Theatres ...- 30 City Service 31 >4 75H 70% SB 88% 32 32 54 89H 70 80% 60% *1 43 67% 87% 32% 32U 53 63 32% 32% 23 23 Vi IS 13 38'A 36% 12*4 29 ZBJ4 17* «« 29 PROBING FUK EOBBEEY. Police Investigating $10,00(1 Theft at Aarou'i-Fur Shop. The police are investigating «. robbery committed at Aaron's fur shop, 1338 Eleventh, avenue, in which the proprietor claims that fura aggregating $10,000 ia value vvr e stolen several weeks ago. The investigation i is been proceeding quietly on the basis of clues furnished by Mr. Aaron, proprietor of t:ie establishment, but it has not yet reached the point wherein any arrests have been made. The robbery, Mr. Awon *tute«, was committed wbil««he was on a boslneus meaaion to New York and tb« uolic« af a report that the furs ts « «*tb«rai town, ever, that he is actually ready to set the necessary machinery In motion. During the excitement in the stock market yeaterdijr Mr. Raskob and his friend ex-Governor Smith calmly went off for an outing. Apparently the tur- moils bothering Johnny Raskob mighty little. Unlike many others, he does not have to spend anxious hours at tha end of a telephone lino expecting •very moment another call for additional margin. The very violence of the lightning ups and downs in quotations on the Stock exchange yesterday morning-, combined with tha substantial recovery later, suggests that the market then entered the final stages of Us convulsions. Had prices done nothing but sink \o-wer and tower the outlook would not have been hopeful. But the rallying ability exhibited with bewildering suddenness from time to time was interpreted by old-timers as evidence that the tidal wave of soiling baa spent Ha main force. Not all of the support, by any means, came from the big six or other influential interests eager to stem the demoralization. You can depend upon it that not fl. little absorption of stocks by genuine investors was under way. The swift attacks on such pivotal stocks as United States Steel, Westinghouse, General Electric, American Telephone, American Can, Montgomery Ward, United Corporation, International Telephone, General Motors, had all the earmarks of short selling by professional bears. Rumor'has it that certain well- known bears have reaped enormous fortunes In the last fortnight and that their succes* has egged them on to bolder and bolder ventures, No tears will be shed should these gentlemen finally find themselves trapped. Short selling is a perfectly legitimate operation. There are times when It is thoroughly beneficial. But to kick a market already prostrated is not viewed in responsible circles as praiseworthily patriotic. How much cheaper leading stocks are now than before the collapse may be gathered from these facts"! General Electric sold above 400 quite recently, whereas yesterday it went below 200. Westlnghouse sold within a few points of 300 and was available yesterday around 115. United States yesterday sold fully 100 points below its recent top of 261%. American Telephone also is down more than 100 points. Radio sold this year within a fraction of 115 and has since touched 26. United corporation yesterday, at 25, is exactly one-third of its recent maximum. , General Motors, under 40 yesterday, sold above 00. International Telephone price has been cut in half. American and Foreign Power cost •within a. point aC ZOO earlier la the year contrasted with 50 during the bedlam. Allied Chemical has fallen fully 150, American Power and Light fully 100, Brooklyn Union Gas 135, Chrysler from 135 to 30, Consolidated Gas almost 100, Electric Auto Lite 100, North American fully 100, Packard is at half-price, Public Service of Ne-yir Jersey at half- price, stone & Webster went down from above 200 to a low of 72, United gas and Improvement is at half-price On the curb, Electric Bond and share dipped as low as 60, contrasted with a high of 189; Electric Investors to 75 against better than 300. Cities Service, at 69 quite recently, touched 20, and opened yesterday only a fraction above 25; Allied Power and Light •went down from 110 to the low thirties; American Superpower from above' 70 to under 20; International Superpower from above 00 to around 25; Lehman corporation from 136 to 76; Midwest Utilities from 565 to 220; Southeastern Power from 138 to below 60; Standard Power and Light from US to 85. I understand that bankers are well satisfied with the cooperation now being extended bjr the federal reserve authorities. Remember that it's a long lane, that has no turning. Also, that violent flree burn themselves out quickly. .(Copyright, 1929, by B. C. Forbes.) DAY'S ACTIVITY IN GRAIN MARKET By GKOBGE O. SCHNACKBI. (Copyright', 1920, by Altoona Mirror.) CHICAGO, Nov. 8.—Decided weakness developed in the wheat market today, reflecting the slump in prices at Liverpool and Winnipeg-. Buying power was light even on the decline. Liquidation waa in fairly large volume at times during the day, so that support until values had /alien nearly 3 cents from tho (opening was a discouraging factor to bullj. Corn followed wheat down. Cash Fjouaes sold from the start and were joined later by locals and commission houses, Country offerings were small but some new corn was offered above the market. Oats were depressed by other gains. Provisions started strong witlj hogg but later reacted owing to weakness In grain. BUSINESS TOPICS. SAN FRANCISCO" Nov. 8. — The peak of securities shipments by airmail to and from the west coast was reached during the last ten days as a result of stock market activities. During the uiK months constantly increased use of airplanes for carrying securities has been developed. ATLANTA, NOV. 8.—Real estate dealers and property owners are not attempting to disguise their uatlafac- tlon over the retirement of many small speculators from the atock market. Somo of the larger houaen here making extensive preparations /or Hales campaigns after «everal years of comparative dullness caused by diversion at mobile funds to the attractive profits of a bull market. Easier money is seen for building purposes and a more liberal policy toward land owners Js freely predicted in some banking circles. U. S. TBEASUBY WASHINGTON, D. C., Nov. 8.— UnU«4 States treasury balance as announced today as of close of business day, Nov. 6, wa s J181.0TS, 133.07. Custom receipts for the month to date, $8,149,294.77. Total expenditures, |5,6?4,60».SO. WILL INVESTIGATE CHILDREN'S CASES Blair County Aid Society Is to Cooperate With Board of Directors of the Poor In Such Matters, A recent resolution of the board o£ directors of the poor of Blair county asked the Blair County Children's Aid society to investigate for them In regard to the disposition of any children that come under the care of the directors of the poor. This 'resolution was accepted by the Blair County Children's Aid society et their meeting on Thursday afternoon at 3.30 o'clock In the offices of the society, 232 Brett building. The president, Robert E. Laramy, presided and stated that the cooperation of the directors of the poor with the Blair County Children's Aid society was brought about by the report of the complete satisfaction of the county commissioners in the work ot this society In Investigating' for them the children referred for placement Jn the Wflllamsburg home. Miss Marguerite B, Brown, county secretary, reported that the ChlJdren,'s Aid society has llfty-slx children under Huperviston in foster homes, forty- six in institutions and twenty-six in their own homes, making a total of 128 actually under care. Thirteen children have been discharged from the cure of the society, eleven of those to their parents or relatives and two to other agencies. Miss Brown imported that in accordance with the policy of the Children's Aid society, all children accepted for care must have a physical examination and a mental test. During thn past month, seven children have been given physical examinations, three have had mental tests, four have had dental work done, and four operations were performed.- This work has been made possible tay the cooperation of the state mental clinic, the other stole clinics, Dr. H. H. Dlght, Dr. F. P. Simpson, Dr. O. E. Todd, Dr. Augustus Kechi Dr. Stltes of the Cresson sanatorium, the Mercy and the Altoona hospitals. The annual autumn conference of the Children's Aid Society of Pennsylvania, la to be held at the Civic club In Harrisburg on Nov. 12. R. E. Laramy will report on tho work of the Blair County Children's Aid society and other members of the board and the county secretary of the Children's Aid society wilt be present at this meeting. NOTKS- (Copyright. 192V, by Altaoau Minor.) NEW YORK, Nov. ».- -New York bank clearings, 12,455,000,000; New York bsnk balance*, WB.000,000; New fork federal reserve bank credit bal- STONE IS HURLED THROUGH_ WINDOW (Continued from Page 1.) in jail on the city charges at police court. John Williams and Clyde Coble, charged -with disorderly conduct, were lined $5.80 or seventy-two hours imprisonment. COMMODITIES Steel. YOUNGSTOWN, O., Nov. 8.—A few slight recessions in prices of steel products in the Mahoning valley wore apparent this week. Galvanized sheets, were quoted at 3.GO cents, being shaded in the Detroit district at 3.40 cents. Slight concessions In black sheets were noted from the final 2.76 cents and blue annealed was quoted from 2.20 cents to 2.35 cents. Wool. BOSTON, Nov. 8.—With top makers practically out of the market, French combing wools were lees active in today's market but worsted mills were taking fair quantities and it was reported that 87c to 88c was obtained for the best lots. Fine and fine medium wools were neglected. Fine territory combing clean was quoted at 8Bc to Die, French combing 87c to 88c, half blood 88c to 9Qc, three-eighths blood 87c to 88c and quarter blood 79o to 80c. Fine- Ohio fleeces were quoted at 36c to 37c grease basis, half blood 44c, three-eighths blood 44c, to 45c and quarter blood 43u. Drygoodti. NEW YORK, Nov. 8.—Cotton goods were ulet again today. Print cloths were quoted unchanged at 7 3-4 cents {or 84x608 and at 8 3-4c for 68x72s. Raw silks were quiet and steady. Rubber. NEW YORK, Nov. 8.—Crude rubber, smoked ribbed sheets, advanced 3-8 cents at today's noon quotation of 167-80 this compares with 203-8e a month ago and 18 3-4c a year, ago. (Copyright, 1929, by Altoona Mirror,) ROAD AND BRIDGE BIDS OPENED; MUCH NEW WOEK HARRISBURG, Nov. 8.—Bids were opened by the state highway department today on six road and four bridge projects whose aggregate estimated cost is approximately 11,250,000, Construction of approximately nineteen miles of highways are involved. Projects and low bidders on them included: Crawford, bridge, two 65-foot spans acroai Bant Oil creek, CentervlUe borough, R-271, Progressive Engineering corporation, Buffalo, N. Y., $60,844, Erie, bridge, one 76-foot span across Conneautte creek, R-268, Washington township, Roberta Supply company, Lima., 0., $26,049. Greene, 5,780 feet, bituminous, Washington township, National Bituminous Construction company, Valley Grove, W. Va., ?40,420. Somerset, 5,417 feet, B-119, Jenner townnhip, Windber Construction company. Wndber, |B2,828. ATTEMJ GIRL'S i'l/VEKAL. City Commissioner S. H. Walker und his brother, 8. C. Walker, are in Lew- Istown today attending the funeral of their grandnicce, Miss Mary Grace Fo0not, who was fatally injured in un automobile accident in Banton on Tuesday, dying in a hospital in that city on Wednesday. MUs Fotmot was a granddaughter of a slater of the Measrs. Walker and a daughter of Walter Fonnot, president and general manager of the Lewiutown Sentinel. FIVE AUK KILLED. C'OLDBROOK, Jf«B«., Nov. «.—Five laborers weru killed instantly here, today when seventy-five pound* of dynamite exploded prematurely. The laborers, all employes of the West Construction company, -were engaged on a tunneling job In connection with thu -Swift river project of the Metropolitan district water system. ARREST BOYS ON SERIOUS CHARGE While Sergeant C. B, Campbell was engaged in an investigation of another case today, ho rounded up two youths, Robert Aurandt and Charles Elder, In connection with an alleged check forgery and they are being held for a hearing before Alderman Anthony O'Toole. Early this week a youth appeared at the Dolaway men's furnishings store on Eleventh avenue, made some purchases and presented a check for $40. It was signed with the name of C. H. Yon, who conducts the Buckhorn hotel. The check was accepted and the balance in change was given. It afterwards developed that Mr. Yon had not drawn or signed the check, Which proved to be a forgery. Several boys were rounded up, one Implicating the other, and out of the different stories the charge is made that Aurandt wrote the check and that Elder took it to the store, made tho purchases and had it cashed. A commonwealth charge was preferred against the boys by Constable Glair Young. RALLY IS MARKED ON CURB EXCHANGE By JOIOT A. CKOXB (Copyright, 1D2B, by Altoona Mirror.) NEW YORK, Nov. 8.—Resuming the rally of Thursday's session, curb prices were higher at the opening today and through tho first half hour on a heavy volume of trading. Irregularity appeared in some of the leading Issues at the end of the first hour, for the bulge in the second half hour wan sufficient, to indues profit- taking. One of the early features was the number of stocks which, after hitting; record lows the previous day, displayed vigorous rallying 1 powers. In some instances, this rally resulted from investment buying- and In others from short covering. Big blocks of bunched orders again featured the opening. Electric Bond and Share opened with 15,000 shares at 79%, up 6% points. At 11.30 it was down to 78. Cities Serviue, which opened with a 25,000 share lot at 31%, was up Vj, but declined to 30% by 11.30. The slight irregularity at the end of the first hour was exactly what one •would expeot in a normal market Many investment stocks that had dropped steadily for the last nix sessions apparently ha,d reached levels where they attracted bargain hunters or Buyers for yield and they wore taken at slightly higher bids. This tendency -was illustrated by the Standard 1 Oil issues, such as Humble, Vacuum, Standard Oil o£ Kentucky and others of that type. Some of the higher-priced Issues recovered. Apparently the distress Bolling, for the moment at least, has run its course In stocks like Gulf Oil of Pennsylvania, Great Atlantic and Pacific Tea and other issues which arc rather closely held and normally have rather narrow markets. The smart recovery in some of tho leading aviation shares in early trading probably resulted from support buying. Nlles-Bemont-Pond, for instance, went from 26% to 30 in between sales. B. W. Bliss and some of the other air ebares Improved. CHILD MURDER IS PROBED BY POLICE (By United Press,) , CAMDBN, N. J., liov. 8.—Police of New Jersey and Pennsylvania were working on two entirely different angles today in their Investigation bo- ing conducted in connection with tho Gloucester county, N. J.. child murder. Possibility that the missing Mrs, Gladys Parkes Baker had used the two small children entruwted to her care as decoys in an extensive blackmailing practice was hinted by authorities, who protests to have Information that the missing • Oman beat and abused the children and collected largo sums of money from men on tho pretext of paternity. They believe that when the children no longer served tho purpose of blackmail thoy were murdered. A second theory is that the children, Dorothy, aged 6, and Timothy, aged 2, whose father, AJlen N. Rogers, a Woodbury, N. J,, Insurance salesman, placed them }n tho caro of the Baker woman when their tmther died, were Wiled out o£ revenge directed against the father. A letter written to Rogers b« Mrs. Baker, in which she soundly berates him for attempting to claim possession of the children, was found yesterday by Sergeant Louis Shaw, who in conducting the investigation for tha Camden police. In the missive she announced that she intended taking them "far, far away where you will never soo them again," The investigation was started last Saturday morning with the Ending of the bones 'of a .6-year-old girl, buried m quit-Mime, near National Park, N. J. Rogers claimed the body was that of his daughter, Dorothy. Tho fate of the 2-yc-ar-old boy la not known, but both Rogers and police believe he, too, has been murdered; NO. 7 PIEEMEN REMOVE DANGEROUS DRY GRASS Members of No. 7 firp company ol the Pennsylvania railroad department upplift/l preventntive meu«ure.s to a fire hazard this afternoon by netting afire (Jia dry grttsu which covered tho several city blocks along Ninth, avenue east of Seventh street. The properties were purchased by tho railroad company some time ago and all but a few of the old liuUdingu were razed. Long weedy grass grew up in the cleared areas during tha summer and of late had created a lire menuuu, easily ignit»d by sparks from Lowmiotivuu panting in tlio railroad yard. No. 7 llremen were culled out one evening this week to extinguish an area of burning gras« fired by sparks but after this afternoon no grass re- muins to burn. A fiose line was laid by th«, firemen and u»ed in guarding the .surrounding property from the (lames. THAW YJUUUICT NEW YOKK, Nov. g.—Tlie J7B.OOO damages awarded to Marcia Eatardua I ia her null ugttlnxt Harry K. Thaw was I cut to f26,000 today by Ju«tic« Aaron U. BOND PRICES ARE GENERALLY HIGHER (Copyright, 1029, by Altoona Mirror.) NEW YORK, Nov. 8.—While bond ices were mostly higher today, ;here were enough exceptions to this to make It evident that all the liquidation Incidental to the recent decline n stocks hud not evaporated. However, the class of bonds showing gains ndlcated that there was a great deal of purely Investment purchasing going on by Individuals, insurance compan- es, banks and traders who are taking advantage of the present low level~of bond prices to acquire holdings for !>ubllc sale when prices agoln advance, as they are convinced they will. The technical soundness of the market is shown by tho amount of new financing planned for the near future. Most of this is municipal, but tho fact that such offerings do have a market that yields around 4Va per cent ;s an Indication that bond prices generally are due for a substantial advance. One offering today was $3,000,000 Orleans parish school board, Now 3rluHns, La., S per cent due from 1030 to 1967. The bonds are priced an a 4.80 per cent basis. The city of rJew York's offering of $60,000,000, postponed recently owing to this unsettlod jondltlou oC the market is expected to been offered within ten days. Public, utilities were the feature of :ha high grade list today. American Telephone 6V4, Standard of New Jersey 5s, Philadelphia company 5s and Columbia Gas Bs of May 1952, were all higher. An exception was General Public Service 5V4», off l'/j points. Rail descriptions wcfe quiet. Anglo-Chilean 7s were down 2% inlnts, in a single sale of a large block. Dodge Brothers Os dropped off another fraction to a new low for the year. In tho foreign department the 8 per cent of thu Republic of Poland, which had slumped 8 points to a new low yesterday recovered 4 points. Other foreign descriptions wore higher. BITTERNESS GROWS BETWEENFACTIONS (Continued from Page 1.) reflecting on you, but on your fathers and mothers." COTTOBf CHOP * OUTCAST. WASHINGTON, P. C., Nov. 8-~ A United States cotton crop of 15,009,000 )j«li;« was forecast today by thu Unitefl Suicti agriculture depuriiuc-nt batied on Nov. 1 crop indleutiuiiu. This tope- is 94,000 bales more thufl Ihe fqru- i-ast inude one mouth UKO, ami in 3.7 per i-t-nl above the IS'ig crop ut 14,478, 000 bulua. fw. C. jPapadeas took out a permit today to m»k« repairs at 7U3 Eighth, to cost 130. Moses MOSGS was presiding over the senate? at the time, lounging back in hla swivel chair, his arms folded, chewing gum. Wheeler asked him it ha had anything to say. "Is that a parliamentary inquiry?" asked Moses. "If tho senator wants an answer I will say that It he can think of any better description of the gyrated crew that ia running this senate, I will be glud to accept it." Wheeler told the Indqpendent-Re- publicanH that Rood has called them worse than communlHts" and that Jopoph B. Orundy, head of the Pennsylvania Manufactures' association, has said they "should talk darn little" because) they came from "backward commonwealths as compared with Pennsylvania." "The people of tho norUvweat •wlU wako up to the fact of who is dominating the Republican party," «aid Wheeler, "and why those leaders want protection for eastern industries, while they put raw materials ol the northwest on the free list." Kahn Was Dropped. Brookhart pointed out that Moses had been forced to drop Otto H. Kahn, N«w York' financier, as treasurer of the sanatoria! campaign committee. Ho said the west was ready for tho battle. Nyo said the northwesterners should organize a "Society of American Jackasses" to removo the eastern loaders. Ho said the northwest was more solid against tho Republican tariff than it had ever been 'over any issue in history. Isn't that largely due to th« remarks of Senator Rued and Mr. Grundy? Asked Norbeclc of South Dakota. "Yes, there can lie no denying that their statements have played a part," Nyo replied. "Grunely'H statement showed the people that the big campaign contributors of both parties come here after the election to collect their dividends in the form of tariff protection." SOUTH GREENSBURG HAS ELECTION RETURN FIGHT GREENBBURG, Pa., Nov. 8.—Ballot boxes from the two election districts of South Groenuburg were impounded und brought Into court here today after a petition had been presented claiming fraud or error hud been committed und demanding a recount. After llrnt unofficial rcturnu showed thu candidates tied for tux collector, a second announpemunt was made by the election board declaring that u. mistake had been made la the Second district and that William C. Woodman, Republican and Democratic candidate, had defeated Mrs. Delia W, Atkinson, the Prohibition candidate by two votes. LOBBY COMMITTEE COMPLETM WORK (Continued from page 19.) sentattve of the American Farm Bureau federation. The Muscle Shoals lobby is reputed to be oni' of the most powerful and beat equipped financially that ever operated in Washington. Before closing the investigation, Caraway said, several organizations •which have asked to be heard will be given a chance to testify. INSPECTORS SEARCH FOE WEALTH IN PLANE WRECK BLOOMSEURG, Pa,, Nov. 8.—Reports that a fortune In money and securities was lost when the air mall plane burned near here yesterday, were not confirmed by postal inspectors, who sought feverishly all day among the wreckage of the plane. Thirty-four sacks of mnU had been aboard the airplane, of which only five were saved intact, ft check-up showed. A number of pieces of jewelry, Including a diamond, werj recovered. Twenty-two of tho mail bags were destroyed, it is feared from the fact that that number of locks were found in the ashes. The remains of the plane are being shipped by freight to Hudley field today, where the pilot, Nelson, who saved himself from '.e burning ship by a parachute, has already gone. LONDON MOKE CHEBIUTUI,. LONDON, Nov. 8,—The stock market opened with a decidedly more cheerful note today attov Thursday's rally on the New York exchange, but operators still were cautious, pending more settled conditions generally. Buy- Ing was light. Transatlantic issues oponed higher n.s compared to yesterday's close, but eased from the best points. TODAY'S WANK CtKAHANCES. Tho bank clearances for tlio day, announced this forenoon by the Altoona Clearing House association, amounted to ,1i200,UflC.ll. TOO LATE TO CLASSIFY LEGAL NOTICES ^X^^N*XXS^X^^^S^^\yV^**^*^ COUNTY; ADVERTISEMENT Settled proposals for the Plumbing work for tlio alterations to tho Blair County Jail will be received by tho Controller of Blair County at tils office In the Court House, llolllclaysburg, Pa., until 11:00 o'clock a. m., November 18, 1921). and will bo opened at the same hour In tho office of the County Commissioners. All bids to bo sealed and marked "Proposal for Plumbing Work for Alterations to Blair County Jail." Plans and BjieclflcutloM may bo secured by contractors Cram tha Architects, Hunter & Caldwell, 600 Cuntval Trust Building. Al- toonn, Pa., upon a deposit of ten ($10.00) dollars, same to hu refunded upon the eafo- return oC plans itiul uneolQcatlons. Deposit •will not be rulunucd to contractors receiving jilana and BpeclUcatlons and not handing In «. liana. Ode bid. A certified chuck In tha amount of one hundred (5100.00) dollars to accompany uiuih bid an a guarautea that, tho contract will be signed wllhln ton (10) (Jays after (Into <if award, Further, the miccesHful pld- dur will na required to Curnluh u. surety bond emml to fifty (50%) pur cent of the contract price for the faithful performance of tho work. Each bidder will Htato tho date work can ho Htarted and date of completion. Tho Commissioners of Blair County Te- ficcv« thtt right to reiect ony or all bids. By order of tne Commissioners this 28th day of October, 1020. M. T. BEniNOER, Controller. In, tho matter ot Vho grading ol Boll Avo- IHIO at Hagcrty Street, In tile City of Al- toonu, Notice is hereby given to all parties In Interest that the City Engineer, an required by Ordinance, has prepared a schedule, showing tho cost and expense of the foregoing Improvement, by an equal assessment of tha property In proportion to the number of feet the name fronts on tho line of said Improvement, and that tha said Engineer will exhibit mild schedule at the Council Chamber, In City Hall, AltOnna, Pa., on the Ibth day ol November, A. D. 1920, at 10 o'clock a. m. II. J. BAUM, City Engineer. In thu matter of the paving of Mil Street, Juntntu, between 4th and 12th Avenue, In tho City of Altoona. Nollco is Jioruby given to all parties In In- tercut that tho City Engineer, as required by Onllnnnco, has prepared u schedule, showing tho cant and expense of tha foregoing Improvement, by an equal assessment of the property Jn proportion to tlie number of feet tho Hume fronts on the line of uuld Improvement, and that tha said Engineer will exhibit mild schedule at the Council Chamber, In City Hull, Altonnti, Pa., on the 18th day of November, A. D. 1020, at 10 o'clock a. m. II. J. BAUM. City Engineer. In thn matter of the paving of Boll Allry, botweun 3rd and 4th Streets, In the City nf Altoona, Notice In liorcby given to all parties in In- InriiBt that tho City KnRlnecr, UH required hy Ordinance, has prepared u schedule, Knowing thu coxt and expense of tho CoroKnlnK 1m- Iiroviiment, l>y un uquul asBCHUmoiit nf thn property In proportion In the number at feet tho Hiimi) fronts on thn line nf said Improvement, unrl that the said Engineer will exhibit Hald ncbi'diilo at the Council Chamber, In City Hall, Altoona, Pa,, on the l[»h day of November, A. D. 1029, at to o'clock n. m. II. J. MAUM, City Engineer. In tho matter ot the paving of 2nd Alley, bntwenn .|th and nth Btreota, In th» City nf Altnona, Notice Is hereby given to all parlies In In- tiTeal that tho City Enxlrmer, as required by Ordinance, hns prepared a srhetlulo, uhowlng tho cost and expense of the forasolnii improvement, Ijy nn miaul usvomimeiit of the property In proportion to tha number of feet the same frnnt« on tho line nf said Improvement, and that the salt) Engineer will exhibit nald suheriula at tha Council Chamber, in City Hall, Altonna, Pa., on the 10th day of November, A. D. 1020, at 10 o'clock a. m. H. J. BAUM, City Engineer. FINANCIAi, GOSSfl* IN WALL mm By ELMEtt 0. V. P. Financial Editor, NEW YORK, Nov. 8,—HyBt»H«J the break a week ago Is now replAcifl by a more optimistic attitude in th» financial community. Wall Str«e| 1* wondering U the present setback it nothing but a break in a bull market, and not a bear phase, aa some hava firmly believed. A bear market would last a long time; a technical reaction in a bull market only would be temporary. The drop which the market has just experienced has been carried to such extreme that It Is actually more thanla technical correction. This corrective process has been carried to excess in the opinion of many and purchasing power has been Impaired to some extent. But there la still a vast, amount of money available fop stock market purposes and this will now be employed to pick up the beat stocks at what are considered bargain prices. One of the biggest surprises of th* year was tho brokerage loan report for this week, showing a decline of $058,000,000 on top of last week'8 drop of $1,098,000,000. The addition to borrowings for this year has been wiped out entirely and the account now stands at $4,882,000,000, the lowest since Oct. 4, 1928, Last Saturday th« Stock exchange reported a decline of more than $2,000,000,000 in Its figure, which also was the lowest in a year. This falling off in loans demonstrate* the change In stock holdings. Present holders have their stocks outright or on very small margin. It also shdw* the extent small traders were wiped out. Brokerage letters were more cheeiu ful today. Many stated that the market had reached bottom and that It would now slowly advance. One house, however, pointed out significantly that the recovery yesterday was too rapid and that prolH-taking would result. The biggest factor In favor of the market la seen In the end of necessitous selling, which reached large proportions In yesterday's "session. Some brokers stated that stocks are ridiculously cheap and that this fact will be more clearly revealed by events in the market In a short time. An amusing turn in the course of events is a suit brought by some holders to restrain Cities Service Company from cancellation of rights to buy stock at $45 a share. The right* were given when the stock was selling above $60 and these were worth $1.8(1 to $2 each. When the stock broke tt> new low ground the company withdrew the privilege, as did many other companies In a similar situation. The stock has recovered since, but has not reached $4IS, at which point the privilege was to be operative. Incidentally, the company stands ready to sell any amount of stock just now for $4$ a* long as the market price is below that figure. FIVE ARRESTED AFTER SHOOTING; ONE WOUNDED PITTSBURGH^ Nov. 8.—Edward Burke, aged 23, was in the West Fenn hospital today suffering from a probable fractured skull and five other men were under arrest as the result of a midnight'free-for-all flght which ended in a shooting match in a confectionery. Burke was said to be the brother of Jack Burke, former sparring partner of Jack Dempsey. He was found lying on the floor by police who sent him to the hospital and arrested th» others. Police raid several shots had been fired In the store but they did not know who fired them. Those arrested were Jack Olson, pro* prietor of the store; and foiur other* who gave the names of Gefcrge Qro* gan, aged 21; John Less, aged 22; William Ca.fson, aged 27, and A. J. Dorn,; aged 20. i i i i i i i L, NEW YORK CITY BANK STOCKS IRVING TRUST CHASE NATIONAL BANKERS TRUST NATIONAL CITY FAY BROTHERS LINCOLN TRUST BLDQ. ALTOONA, Pa. Dittl 9348 X i i i i WWhen the radio, the washing machine, the vacuum cleaner or the furnace needs attention TELE and Save Time! WHO'S WHO? t^USS. JIV TMK TBI-KPaiOWB ~-.»-.-.»- -.-.—«.— - -fi *]

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