Altoona Mirror from Altoona, Pennsylvania on November 11, 1929 · Page 17
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Altoona Mirror from Altoona, Pennsylvania · Page 17

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Monday, November 11, 1929
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THE ALTQONA MIRROR— MONDAY, NOVEMBER 11, 1929 MARKETS FOR TODAY BUSINESS AND INDUSTRY IN SOUNDEST CONDITION PRICES LOWER AT MARKET'S OPENING Enough Belated Liquidation Appears to Cause .Depression When Aggressive Support Is Lacking. By GEORGE T. HUGHKS. (Copyright, 1929, by Altoona Mirror.) WALL STREET, NEW YORK, Nov. 11.—Prices ruled lower at the start of the week on the Stock exchange. Enough belated liquidation appeared to depress the market, which was without aggressive support. The trend was downward at the opening in continuation of the movement In the progress at the close on Friday. Initial quotations showed losses which in the high priced stocks ran from 2 to 3 to 8 and 10 points and in a few cases more. Low priced issues sold off proportionately. For the first two hours stocks were In supply without, however, uncovering any Important ' weakness. Sentiment In the street was more optimlstio and the market showed no sign of the panicky liquidation of other recent, declining sessions. Brokers were said to be asking- higher margins on short commitments and as proof of the stronger technical condition, the falling off in volume was stressed. In the first half hour tha sales today were 659,100 against 877,300 shares in the same period Friday. This was the smallest turnover for the flrst thirty minutes since Oct. 26. Nor did By B. C. FORBES. How thoroughly quietness was restored in the last day of stock trading (Friday)' is revealed by the fact that transactions on the New York Stock exchange were well under one-half of the previous day's total and under one-flfth of the recent dally maximum, And price changes at the close had not averaged more than li point. The prediction hazarded In this column that Thursday's was the final convulsive spasm thus promises to be fulfilled. It must not be imagined, however, that the whole market will hereafter be onesided. Some stocks, including certain of the higher-priced issues, which were supported by bankers, may move lower. Irregularity must be expected. But it is unlikely that there will be repetition of panicky conditions. There would not seem to be qnough material left to cause' another 16,000,000-share day of forced selling. Recovery towards better prices for the majority of good stocks will be logical. Instead of repeating the pre-panic' warnings given here against speculating at the dizzy quotations then ruling,, the writer would now counsel discriminating purchase of common stocks for Investment. Whereas it was not usually possible during the gambling orgy to buy stocks listed on the New York exchange yielding 5 per cent and 6 per Bulk steers and yearlings, $O.BO@$12.25; fat cows, $8.50<y>$9.00; heifers, $8.00<Si$11.0»; most build, J7.50jj49.00. Calves, receipts 1/660; market steady. Top vealers, J16.40. Sheep, receipts 500; market lambs and tower grade sheep 2Bc to 60c lower. Good cent, this has now become possible, as the following tables show. It must not be assumed, of course, that any recommendation is here made to purchase stocks named; these Hats do not Include any of the many very high- grade investment stock's yielding a cash return of less than 5 per cent: Industrial. Fri-Yield Dlvl- day's Per Company dend Close Cent Amer. Locomotive.... A $ 8 Amer. Sugar 5 Amer. Tobacco 10 Bendlx Aviation 2 Beth. Steel 6 5 3 Canada Dry O. A Chrysler stocks come out in large blocks as they and choice ewes and aged wethers steady, rilri whnn thn list wan rollanqine' last' Bulk lambs, ?11.00®>$13.00; fat ewes, |4.40 did wnen tne list was collapsing |ast @?6 00 . age( f wetnerS) $e.OO<S<*7,25. week. 7% 65% 22% 14 53% 10 29 105 82% 38% 49% 30H 52 70% 205% 61 11% 8% 8H 26 17% 57»A 61 31% 86% 73 ' 60% 47% 68 34 18 30 27% 98% 92 10 32% .32% 5B% 31 27H 29 % g* 43 125% 68% Today's New VorU Quotation!. Quotations furnished for Altoona Mirror by West & Co., members of Philadelphia and New York Stock exchangee. local office, First National Bank building. Open. Noon. HAILS t Atchlson 22B 220 Baltimore and Ohio .... 117 116% New York General 184 ] ISO'/, Defaware and Hudson'.'I.'.'.'!!! 163 Vi 183% Erie 54% 63 Great Northern 97% 97% Kansas and Southern .,.. 73% 73% Missouri Pacific .. 66% .85% Canadian Pacific ...... .202 202 Norfolk and Western 223 223 New Haven 106% 108% Northern Pacific 88% 88 Chicago and Northwest ....... 87% 87% Pennsylvania .... 84% 84% Rock Island 114 114% St. L. and S. F '. 111% 110% St. Paul, Com 22%. 21 ft St. Paul. Pfd - 37 37% Union Pacific : 219 217% Western Maryland .... 18% 17% INDUSTRIALS: American Can • 112 110% Allied Chemical 211 207 American Foreign Power 63% 64ft Allis Chalmers 43 43 American Locomotive 100% 99% American T. and T 215% 215 Armour, A T% 6% Armour, B • 5% 5% Bendlx Corp 33% 32% Bosch Magneto 34% 34 Boverl 8% Columbia Gas ... . '•'- SSJf Columbia Gramaphone •.' 23% Congoleum 13% Continental Can 65% Curtlss-Wrlght 10% Davidson Chemical 30 Dupont de Nemours 107 Electric Storage Battery 82% Electric P. and L 39 Famous Players 60% Freeport Texat . .• 30% Goodrich 52 Goodyear • _'i General Electric 207 xGeneral Refractories ..... .... 63_ Intl. Combustion .-... 11 »• Kelly-Springfield o% Kolster-Radlo 9% xxKreuger and Toll 28 Lorlllard '. If Montgomery-Ward : ss May Dept «2Vi Intl. Nickel i 32 North American 89 National Cash . .• "4 National Dairy 51% General Foods ,- 49% Public Service, N. J .• ... 70 Radio J5_ Radio-Keith 18% Remington-Rand 30J« U. S. Rubber 28% Sears, Roebuck 101 Standard Gas 92% A. Schulte 10 Standard Sanitary 32% Trtco '•••• 32% Texas Gulf 55% Utilities P. and L. A 30% United. Corp 28% United Gas and 1 29% United Aircraft 44% Warner Brothers 40 Westtnghouse Airbrake 43 % Westlnghouse Electric .,.- .... 130 Woolworth 69% 'MOTORS; Continental -.-....; 8% Auburn 175 169 Chrysler 32fc 3194 Hudson .- •"% 4« Graham-Paige 10% 10 .General Motors 42% 41% Hupmoblle 22% 21% Packard 17 18% Marmon 29 27% • Mack 70% 68 Mnsh 51% 51% Reo .• 12 12 Studeb'aker ... 45% 45 Wlllys-Overland 10% 10% White 33 32% Yellow Cab , 12% 12 STEELS: Bethlehem • • 87% 87% Central Alloy 37% 37 Cast Iron Pipe ' 17% 17% Crucible 83 83 Gulf States M 51 Vanadium 55 54 Otis 35% 34% U. S. Steel 169% 167% New York Produce. NEW YORK, Nov. 11.—Potatoes quiet and j Texas Corp Comm, Credit 2 Cont. Motors 90 Elec. Auto Light,, 6 Elec, Storage Battery.., 5 Endicott Johnson : 5 Gen. Foods Corp 3 Gen. Motors B 3.30 Gillette S'ty Razor...C 5 Gold-Dust 2.50 B.«F. Goodrich 4 Goodyear T. & R 5 Gr. West. Sugar 2.80 Hupp Motor A 2 • Lambert Co 8 Link-Belt Co 2.60 Loose Wiles Bus 2.60 Mack Truck 6 McKes & Rob 2 Mont. Ward 3 Nash Motors 6 Nat'l Cash Reg B 4 Far. Fam. Lasky 3 I J. C. Penney 6 Pullman ..: 4 Pure Oil .'..- 1.42 Purity Baking 4 Royal Dutch D 3.20 Shell Un. Oil. 1.40 Stand. Brands 1.50 Studebaker 5 steady; Long Island, J2.90CfJ6.25; Maine, $4.00(S/$5.10. Flour dull, and easy; spring patents, $6.30 .. Beef steady; family, ?27.00@?28.50. Fork quiet; mess, $28.50. Lard dull; middle west spot, . 1090 (?i>. 1100. Sugar, refined dull; granulated, $5.25. Petroleum firm; New York refined, IBc; turpentine, easy, 53c@54c. Tallow steady; special to extra, 7%c@ 8%c. ' . Hides dull; Cenetral America, 17c. Dressed poultry easy; turlceys, 25c(§J48c; Vick Chemical 2.50 A—Plus extras. B—Including extras. C—Plus 5 per cent in stock. D—So far this year. Rails. Bait. & Ohio .$ 7 Ches. & Ohio 10 Ches. Corp 3 Chic. & N. W 5 100 01 180 34 89. (M 33 26 9 80 81 nr. 45 43 99 41 52 10 31 23 100 42. 52 70 35 58 51 78 50 82 80 23 71 53 23 28 46 54 40 EXPENDITURES FOR TRAVEL ARE LARGE Wealth and Prosperity Distributed Over Entire Country Through Popularity of Automobile Tours. Del. & Hudson. 9 chickens, 2Gc<!i<38r; fowls, 20c(?p35e; • duck», i Hudson & Manhat.... 3% 18cM28c; ducks, Long Island. 24c<5>27c. In Central 7 Live poultry dull; geese, 13c@21c; duckn, „• „, ritv q n ,,*v,prn 18c@28c; (owls, 20c@31c; .turkeys, JOc® ^ans City Southern.. 45cf roosters, 2ic<fj>22c; chickens, 20e@28c; capons, 30c(?i)40c; broilers, 27c@i34c. ! Norfolk & Western North. Pacific. 12 5 Cheese _qulet; state_ whole, milk, fancy to puts. W. Va 6 74% 13% 19 75% 85% 52% 69 59 31% 86% 31 53 32% 13 38 T Republic .................... 74' .Reading C, and 1 ............ 15 Warren Foundry ............ 19% COFFERS i American Smelting ..... .- ,,.. 75 14 Anaconda .................. 86 Calumet and Hecla .......... 53 Cerro de Pasco .............. 69 Granby ..... ............... 60% Inspiration ........... ...... 31% Kennecott .................. B7V4 Miami ...................... 31% Magma Copper ..,-. .......... 53 Nevada ............ -. ....... 33 v Tennessee .................. 13 U. S. Smelting .............. .36% OILS; Atlantic Refining .......... .. 41% Auphalt .................... 48% Beacon ..................... 18% Barnsdall ........... ' ..... ,. 25 Vj Indian Kenning .............. 21% Independent ................. 24 Vi Standard Oil, N. J ........... 62% Mid Continent ............... 26% Mexican Seaboard ..... , ..... 15'/j Continental Oil .............. 21% Standard Oil, N. Y ........... 35 Phillips Oil .................. 32 Pan American B ............ 60% Pur» Oil .................... 23V, Richfield Oil .. ............. .1 30 Sinclair .................... 27^ Standard Oil, California ...... 65 Sun Oil ..................... 65 Shell Union ................. ,23% SKelly Oil ................... 32t» Tidewater Asso ............... 13 Vi Texas Company ............. 54% Union Oil, California ........ 47% Houston Oil ................. 43 Sales, 1,644,000 aharea. Money, 6 per cent. xEx. Dlv. 1. xxEx. Rites. CURB MARKET. P^onroad Corp ............... 17% Fort e* England ........ ..... 12>.i General Theatres ............ 28 Vi City Service ................ 29 >i FltUburtu Livestock. PITTSBURGH, Nov. 11.— Prices on Pittsburgh livestock market today were: Hogs, receipts 7,500; market 15c to 2Sc tower: active at decline. 160-230 Ibs., J9.70 » ( *9.75: 240-300 Ibs., J9.25&J9.65; 100-140 specials, 27%c@29%c; Young America, 2* (J27c. Sweet potatoes easier: Jersey, basket; 7Se rg>?4.25: southern, barrel, $1.500*2.25; southern, basket, $1.00(B>$1.25. Hides (city packer) dull; native steers, 18%c; butt brands. 18c; Colorados, -17c. COMMODITIES YOUNGSTOWN, O.— Nov. 11.—While operations of Mahoning valley steel mills have sagged to approximately 7,5 per cent of capacity, on 'excellent increase in specifications for November shipment is reported. Oil. SAN FRANCISCO, Nov. 11.—Gaao- line sales in California during the third quarter set new records and exceed-: ed those for the similar 'period iri 1928 by 16 per cent. The state collected close to ten million dollars through ,the 3 cent levy on the 334,318,767 gallons sold. It is estimated' that state will secure-for highway purposes $34,000,000 from the gas tax during the whole year. Lumber. NEW ORLEANS, Nov. 11.—Mills of the Southern Pine association report that orders received in the last week Increased 10.6 per cent to 60,288,000, feet. Shipments rose 1.8 per cent to 61,435 feet and production totaled 60,836,000 feet.. Unfilled orders amounted to 176,190,000. Railroad Equipment. CANTON, O., Nov. 11.—It is reported that Timken Roller Bearing company, is building a' locomotive in which a new type of bearing is to be used. The locomotive, according to reports, will be turned over; for actual inspection by the railroad engineers and if tests prove successful will create a new product for the plant. Packing House Products. SAULSBURG, Md., Nov.' 11.—A meat ,'., packing plant here is now being atart- - ' ed, which will have a capacity of about 1,000 animals a day. It is reported that this will- provide a local market for livestock raised along the eastern shore of Maryland Wool. BOSTON, Nov. 11.—Summer street was practically deserted today, with a majority of wool houses closed in observance of Armistice day. The top market continued Very dull, with practically no forward buying, although quotations remained steady. Fine territory combing was quoted at 89c to 91c, French combing 87c to 88c, half blood 88c to 90c, three-eighths blood 87c to 88e, and quarter blood 79c to 80c. Fine Ohio fleeces were quoted at 36c to 37c grease basis, half blood 44c, three-eights blood 44c to 4Sc and quarter blood 43c, Drygoods. NEW YORK, Nov. 11.—Cotton goods markets were quiet today. Print cloths were quoted unchanged at 7%c for 64x60s and at 8%a for 68x72s. Raw silks were quiet and steady. St. L. San Fran 8 South. Pacific 6 mining. Am. Smelting 4 Anaconda 7 Cerro De Pasco 6 Granby _Mining 8 Howe Sound B 4 1 / Insp. Copper 4- Sennecott Copper 5 Vlagma Copper S Miami Copper ' 4 118 190 55 87 163 48 128 73 225 89 100 112 120 76 87 70 61 42 32 67 53 32 34 43 8.2 5.3 5.8 6.8 7.8 9.0 7.8 8.8 7.5 6.1 9. 6.2 7.6 7.6 7.1 9. 8.8 8. 6.1 5. 8.5 ' 5.7 5.1 11.7 5.1 fi. 7.3 5. 6.5 5/6 6. 6. 5.3 10.8 5.5 6.2 5.9 5.2 5.4 5.7 5.5 7.2 5.4 6.8 5.3 5.6 6. 7.1 5. 5.2 8. 8.5 13.1 10.7 12.5 7.4 9.5 12.5 8.8 6.9 WASHINGTON, D. C., Nov; 11.—Citing the fact that $3,600,00*000 was spent on motor touring alone by the American people In 1929, the national touring board of the American Automobile association declared today that the travel and holiday bill of the nation this year will exceed all previous records. Facts and figures bearing on the gigantic expansion of the national travel and vacation bill were brought out at the third annual conference of touring and travel experts, which constitutes the advisory committee of the national touring board of the. American Automobile association. The purpose 'of the confrence is to scuss ways and means for the more xpedltious handling of travel a-wheel, -wing and a-float and in foreign parts s well as In the United States. William G. Bryant of Detroit, Mich., hairman of the A. A. A. national tour- g board, told the delegates that only ne Industry in America, namely, the utomotlve industry, now exceeds In ollars a,nd cents of output the sum xpended on motor touring by the peo- e of the United States. "The large expenditure on m^lor va- ountry, in addition to the individual vidends it pays in health and whole- orrfe recreation, There is no other usiness that is doing so much to dis- ribute wealth and prosperity.' Travel, n fact, is becoming more and more a actor in national and international lability. For this reason, govern- nents, statesmen and travel agencies must stand ready to promote travel in very possible way. "That the national travel bill—and his includes travel by motor, by rail- ays, by steamship and by airplane— lould show such a definite increase his year is doubly slflnillcant because f the large amount of capital that cent Into the securities markets. It oes to show the extent to which the •avel habit has arrived and the part is playing in the educational and rec- eational life of the masses." Mr. Bryant predicted that the next vc years would sec "an unprecented ncrease in travel a-wheel, a-wing and -float," and stressed thg Importance f what A. A. A. clubs are now doing o expand their facilities into all fields f travel service and travel informa- 3n. ''Competition for the dollar of the raveler," Mr. Bryant said, "has come o be one of the keenest struggles In he national and international eco- omic arenas. This competition, while vholesome and friendly, is perhaps as ceen as anything business or Industry as witnessed in the history of the world. Mev. Con. Copper 3 Phelps Dodge 3 B—Including extras. Between now and Christmas many additional cheerful dividend announcements will be forthcoming. Financiers, Industrialists and others who have not been eager heretofore to receive increased dividends because of Income tax considerations, have less to worry about on that score because their income will be reduced by stock losses, Furthermore, a lot of big as well as little stockholders will welcome extra receipts at this time. Boards of directors will be influenced, also, by a desire; to strengthen confidence There never before was a panic- time when so many American corporations were in a position to make equally liberal distributions from accumulated surpluses. In other words, American industry and business are in the soundest condition in the' nation's history. Inevitably the terriilc shrinkage in the market value of securities will hurt buying to some extent. But If corporation heads and,other business men not only preach confidence but practice it. if there be no hasty dismissal of workers, the effect need not be more than mild and temporary. Should employers act nervously, .prosperity will give place to nervousness. Let every thoughtful citizen exercise courage rather than cowardice, and the scars inflicted by the collapse of the speculative orgy should not prove fatal to prosperity, (Copyright, 1929, by B. C. Forbes.) 49 18 >A 24% 20 23% 62 26 Vi 1514 24 % 35 Vi 31% 60 23% 30 27 V4 a* 88 13 B3H 47% 42 Upeu, NEW Rubber, YORK, Nov. 11.—Crude rubber, smoked ribbed sheets, was unchanged at today's noon quotation of 16%. This compares with 20c a month ago and 18%c a year ago. (Copyright, 1929, by Altoona Mirror.) BUSINESS TOPICS. PHILADELPHIA, Nov. 11.—Purchasing power is high throughout this territory. Retail sales are steadily on the increase and some merchants predict that fall trade totals will be higher than those of last year. Reports from wholesalers and jobbers also are quite favorable. Freight shipments of raw and manufactured products are heavy. DEPUTY SHEKIFJT WOUNDEU. ST. CLAIRSVILLE, O., Nov. 11.— Deputy Sheriff H. M. Deevers was a patient in the hospital here today suffering from a gunshot wound received when his own gun was discharged while he was searching for liquor under the porch of a house here. Deev- 12% i era said he was digging into a pile *""•' of coal in the liquor search when in 2814 29% 18.50. ., .. »9.006»9.35; *owa steady at {8.00& .. Cattle, receipts 1,000; market good, steers firm; other grades and classes slow to steady. some unknown manner the revolver was discharged. OtUa' experiment itatlou ycarllnga, {14.50! $106,000,000. FINANCIAL NOTES. (Copyrlgnt, 1829, by Altoona Mirror.) NEW YORK, Nov. 11.—New York bank clearings, $768,000,000; New York bank balances, 1162,000,000; New York federal reserve bank credit balances, PITTSBURGH HOLDS ARMISTICE PARADE (By United Press.) PITTSBURGH, Nov. 11.—Pittsburgh and western Pennsylvania joined hand; with the rest of the world today ti remember and honor its World wa dead on the eleventh anniversary o the signing of the armistice between the central powers and the allied na tlons. Eleven years ago, on the elevent! hour of the eleventh day of the elev enth month, the great guns whic scarred th i face of Europe and kllle millions of her men and ours, wer silenced after more than four years o death and destruction. The world ha not), forgotten the sacrifice of thos lives. Today virtually every community large or small, in western Pennsy vania celebrated in some way th armistice signing. At 11 a. m. today the sounding o taps, the bugle call that sends a wear soldier In camp to his cot, held th entire city of Pittsburgh in silence fo two minutes. From 10.30 a. m. until noon division of troops marched in a memoria parade down Fifth avenue. Veteran of all the allied forces were in Un Army planes zoomed overhead. Luncheons, banquets and dance were to follow by various organizations this afternoon and this evening. At Washington, Pa., Dr. Paul V. McNutt, dean of the Indiana university school of law and former national commander of the American Legion, made a spirited plea for the continuance of universal peace. Members of organizations from all parts of the county participated in a parade. Major General Charles H. Mulr, who commanded the famous 28th division. "Pennsylvania's Own," during the war, attended the celebration. Beaver Falla wns host to veterans from Butler, Lawrence and Beaver counties. A pageant parade featured the celebration. And in every other section of the world, other men were marching. Some wore the faded gray of the* German field uniform, others the blue of France or the khaki of Great Britain. Eleven years ago they would have been marching against each other. Now, 'though far apart, they march together in remembrance of their dead comrades and in the celebration of world peace. atlons," nanclal said Mr. Bryant, "has a significance to the whole FINANCIAL BRIEFS IN TODAY'S NEWS (By United Press.) NEW YORK, Nov. 11.—Sugar melt of fifteen United States refiners in the period from Jan. 1 to Nov. 2 totaled 4,310,000 long tons, , against 3,986,000 tons In the same period of 1928. Deliveries in the period were 4,055,000 tons, against 3,765,000 tons in the same period of last year. Steel producers In the Youngstown district are maintaining operations at 65 per cent of capacity. Of fifty-one open hearth furnaces, twenty-five are melting; seventy-six of 120 sheet mills are operating; fourteen of twenty-one pipe mills are under power, while nine mills are running at 75 per cent of capacity. Stocks of crude rubber in London on Nov. 9 totaled 49,302 tons, an increase of 1,210 tons over the preceding week. Sentiment In Detroit Is for more optimistic than generally appreciated in New York, According to Merrill. Lynch & Company, brokers. Wholesales of automobiles are at a low ebb, companies have plenty of money and are beginning to let contracts for materials and parta for 1930 production. Chairmen and presidents of twenty- seven companies doing an aggregate business of more than four billion dollars a year and representing almost every major industry and section of the country, say that there will be no slackening of their sales and advertising programs for 1930 as a result of tho stock market reaction, according to sales management, a business publication. FIREMEN BUSY AT WEEK-END ALARMS Eight flre alarms over this weekend gave concern to city firemen but due to prompt and efficient service of the firemen, none did any considerable amount of damage although several had good starts and, for a time, looked serious. The first of the eight was at 10.31 o'clock Saturday morning when No. 5 firemen were called to the home of D. E. Leibe- gott, 1903 Third avenue. The report the firemen received, as to cause, wag that children were playing with matches In or near a clothespress, causing a oonflagration among garments stored therein. Two buckets of water brought the excitement Incident thereto to an end. » Saturday afternoon at 2.3? o'clock, No. 3 firemen were hastily summoned to the home of J. W. Wilson, 615 East Bell avenue. The flue on the house was burning but it had spent Itself by the time tho firemen arrived and they were not compelled to go Into service. A false alarm, phoned to No. B station at 6.08 o'clock Saturday evening, took the apparatus to 2015 Broad avenue. No lire was found. What looked as though it might be a serious flre was discovered at 8.20 p. in. Saturday at 1805 Eleventh avenue. The roof of the home of C. J. Crumm was ablaze and companies Nos. 1, 4 and truck A were summoned. Quick work on the part of No. 1 firemen, who used three gallons of chemicals, ended that flre. Saturday night at -11.85 o'clock, firemen from No. 9 station used three gallons of chemicals to put out a flue (irn at the home of H. Marcacco, 411 Pine avenue. Sunday morning at 9.04 o'clock, the Directors of Dominion Stores, Ltd., roof at the home of C. H. Snider, after investigation and having regard 2117 Ninth street, caught flre from a to the present financial conditions, burning fluo and No. 9 firemen, who have decided not to exercise their I were summoned, used three gallons right to acquire the option to purchase ' a block of stock of the Loblaw Grocerterlas Company, Ltd., Including a majority of the voting stock. Thermold company has completed a 1150,000 unit at Trenton, N. J., for tho manufacture of Usbestos brake linings, clutch rings and packings. October department stores Hales gain'ed 3 per cent over October, 1928. according to reports to the federal reserve system. Union Oil Company of California has restored crude oil prices at the Ventura Avenue field, which were cut sev- iral weeks ago. Middle States Oil corporation reorganization committee states that tho deposit date for slock has been extended to Nov. 22. SIZE OF SUBMARINES IS TAKEN UP BY ADMIRALTY OBLIGATIONS TO SOLDIERS UNFILLED KANSAS CITY, Kan., Nov. 11.— With eleven years elapsed since the signing of the armistice, America has only half fulfilled Its recognized obligations to those who made up its military forces during the World war. This la'the gist of an Armistice day statement issued from national headquarters of the Veterans of Foreign Wars of the United States, by Hezeklah N. Duff, Lansing, Mich., national commander,, taking congress to task for its dilatory tactics In tho consideration of veteran relief legislation. "Approximately 50 per cent of America's World war disabled are being deprived of compensation by technicalities and red tape allowed by congress to litter up the regulations of the United States veterans bureau,' Duff charged. "Although eleven years have passed since this country turned Its thoughts toward peace more than 500,000 veterans find themselves in dire need, their health shattered, their income destroyed and frequently with dependents in need of food and shelter. "The veterans bureau is now paying compensation to more than 262,000 of these veterans who were fortunate enough to possess all the tcchnicn proof, testimony and affidavits that would establish their claims. 'However, more than that number are also suffering from disabilities but their claims have been rejected,' due :o the lack of certain evidence and data required by veterans bureau statutes. The regulations fall to take into consideration conditions existing at the time of a veteran's injury, when he probably thought more of his safety at the moment than the possibility of needing technical evidence eleven years later. "The government also ignores the general tendency toward a breakdown of physical resistance among veterans as they grow older. Thousands of men were subjected to conditions of exposure and suffering that are only now beginning to show their ill effects. "There are 58,205 veterans in government hospitals suffering from nervous and mental diseases at the pres ent time. A total of 56,635 veterans are being hospitalized by the government for tuberculosis. More than 149,000 are receiving general and 'medical treatment. "There are 33jOOO World war veterans recognized by the government as being totally and permanently disabled. Of the total compensable group, 177,670 arA carrying permanent ratings while 84,468 are classed as temporarily disabled, with the prospect that their compensation may be still further decreased despite the fact their earning capacity is either nil 01 seriously handicapped. "The man who came out of the service eleven years ago physically tit and still enjoying good health, asks no favors from the government Proof sufficient for this statement Is evident in the fact that more than a million World war veterans have nol even taken the trouble to collect thu insurance policy in the form of an adjusted compensation certificate granted to all World war veterans. "The disabled veteran problem is growing more serious each year. This nation has dallied long enough In dodging its responsibilities to these men for whom 'nothing was too good' when we urged them to enlist. "Unless , organized veterandom has tho support of the public at large in this demand for compensation for al World war disabled, and unless public sentiment Is aroused to the point whore justice is demanded, the nation's neglect of its disabled veteran* will constitute the darkest chapter in America's history." PLANNING PAGEANT. WAYNESBURG, Pa., Nov. 11.— The women of the congregation of tin- Methodist Protestant church, the centenary of which was celebrated here yesterday, were busy today with plan* for a. pageant Wednesday depicting the history of the church. Three special .services were held yesterday in honoi of the IGOth anniversary qf the church large crowds were in attendance. (Special Cable to Altoona Mirror and Chicago Dally News.) LONDON, Nov. 11.—Tho British admiralty Intends taking up seriously the size of submarines at the coming naval disarmament conference. Prime Minister Ramsay MacDonald, In his honest endeavor to insure world peace, wanted submarines completely abolished. Since his return from the United States, his advisers have shown him that for the time being neither Italy nor France can agree to such a policy, but much can be done If the size of the under-sea-going craft in substantially reduced. At present it seems that tho policy of the minor seapowers is to increase the tonnage of submarines to such au extent that they real the size of small crufsers. France Is launching nexl week her flrst vessel of that type. It is a 4,000 ton submarine armed with 5.5-inch guns and carrying a seaplane. It has broadside as well as stem and Stern torpedo tubes capable of discharging fourteen torpedoes simultaneously. The deck Is heavily armored to offer adequate protection against shells and bombs and a battery of anti-aircraft guns is placed amidships. Neither Great Britain nor the United States possesses such powerful "submarine cruisers." Britain's largest submarine—tho XI—Is of only 2,525 tons deadweight, while America's largest submarine Is 2,890' tons. The new French mammoth is capable' submerging to a depth of 430 feet, which is 80 feet deeper than any other submarine has dived. (Copyright, 1929, Chicago Dally News, Inc.) ARREST TWO AFTER MAN DIES OF FRACTURED SKULL of chemicals. That evening at 6.57 o'clock the flue on the home of J. M. Lloy, 313 Third street, was reported on flre to No. d station and the firemen responded :o the call but were not obliged to ;o Into service. NEW KENSINGTON WOMAN HURT IN AUTO ACCIDENT Mrs. George Bennett, aged 64, a resident of New Kensington, Pa., is a. patient at the Altoona hospital suffer Ing from possible Internal injuries and shock as a result of a three-car automobile accident at the Triangle, near Tyrone, at noon Saturday. Her condition today was described as fair. Mrs. Bennett and a daughter, Miss Pearl, of 102 Leifham avenue, New Kensington, had entered the oil rack at the service station at the Triangle and Mrs. Bennett was standing alongside the car when another machine, coming east and driven by Carl Warner of 617 Washington aveftue, Hagerstown, Md., was struck from the rear by another car driven by Ada Thornton of Wesleyville, Pa., the Warner car veering off the highway and Into the Bennett machine and at the same time striking Mrs. Bennett and hurling her a considerable distance. Jesse and Maud Thornton, sisters of Ada 'Jhomton, together with the latter, were cut by flying glass and several others In the near vicinity were similarly injured but not to any extent. After first aid had been rendered by a Tyrone physician Mrs. Bennett was brought to the hospital In this city. State police were summoned and went to the scene. Mrs. Bennett was- resting fairly comfortably at the hospital here thjs morning and an X-ray rxaminatlon Is being made to determine the possibility of any fractured bones. THREE KILLED AND TWENTY-FIVE HURT (Continued from Page 1.) truck on the head with a revolver butt. Many of the Injured were removed from the scene so quickly that no accurate count could be made of the number. Thousands witnessed the rioting from tho plaza of the National theatre and Alameda park, ducking behind statues and stone walls to escape tha revolver firing. Suggestion for Morrow. Several thousand Vasconellstaa, following tho downtowa parade, started for Chapultepec castle and enroute halted outside the United States embassy where one of tho leaders, Maximo Oscon, made a speech suggesting that Ambassador Dwight W. Morrow Inform his government that tho Mexican people were unwilling to submit to tho "imposition" of Ortiz Rublo. Fifty police guarded the embassy during the demonstration. Ambassador Morrow was spending his usual weekend at his country home at Cuorna- yaca in the state of Morelos. Continuing to Chapultepec castle the marchers attempted to gain admit- ance but presidential guards with fixed bayonets blocked their passage, contingent leading the parade The was commanded by General Euloglo Ortiz. Both presidential candidates were absent from the city. Vasconcelos departed last night from Guardalajara for Cananea, Sonora, from whqre he expects to go to Hermoslllo, capital of Sonora, until after the elections. Ortiz Rublo spent the day at Chapala, just outside of Guardalajara in a house which waa carefully guarded. U. S. TJIKASUHY BALANCE. WASHINGTON, D. C., Nov. 11.— United States treasury balance as announced today as of close of business day, Nov. 8, was $156,930,205.11. Custom receipts for the month to date, TEN LOSE LIYES IN AUTO WRECKS (Continued from Page 1.) the gasoline tank of his car exploded after the car upset last Oct. 9. ' Joseph Hanna, aged 45, of Welrton, W. Va., was instantly killed by a hit- and-run driver while visiting friends in Brldgeville. Dorothy Teapolc, aged 7, Rochester was Instantly killed when struck by an automobile, driven by Carl Emerlck, Rochester township, police said. Maxlne McCallen, aged 9, of Beaver was killed and her parents and three sisters were Injured when their automobile collided with the car of John Wilson, New Castle, at a road Intersection. J. August Bchrelber of Jeannette was killed when his automobile crashed nto a telegraph pole near Blairsvllle. Michael Dubash, aged 28, his wife, tfary, aged 28, and their 6-year-old son, fohn, were patients In the Citizens Jeneral hospital, New Kensington. They were Injured when their car skidded and upset. Several other persons were Injured in various parts of western Pennsylvania. Three persons were Injured when the automobile in which they were riding crashed into the porch of the home of Henry Best in Rochester township, Beaver county. Charles L. George, aged 4T, Earl L. Welkart, aged 46, and his wife, Mrs. Vlary Welkert, aged 45, were recover-' ng in th»i Latrobe hospital from in- lurles received when their automobile was crowded from the rood near Idlewild park. Jake Kurth, aged 3, ,son of Mr. and Mrs. John Kurth of Jeannette, Pa., was in a critical condition in the West- Moreland hospital, Greensburg, suffering from injuries received when he was struck by an automobile. NEW ROADOPENED TO WILLIAMSBDRG (Continued from Page 1.) "ripen" it is expected that this lection will be ready for opening by Doo. 6. Then tho direct through route will be taken from HolIIdaysburg, over concrete in ltd entirety with the exception of,a small stretch between Holfl- rtaysburg and Frankstown. There are no other detours in this section of tho state which affect, to any degree, local traffic. $12,037,639.58. 640,915.77. Total expenditures, ?24,- YOUTH'H HANI) OUT. Lloyd Bait, aged 14, icf 2905 Broad avenue, was treated l.i the Mercy hospital dispensary yesterday for a deep laceration of the first finger of the left hand Inflicted wll'i a knife. Two stitches were require dto close the wound. DOLLAR DAY __._ BE ON WEDNESDAY (Continued frOitt FAgs 1.) ing up for that occasion. There c6uttl be no greater incentive ftrf *at« Christmas shopping than Dollar will alford. It was authoritatively Stated Booster headquarters today that merchants are making greater arations for their patrons on W day than have ever heretofore inafK; the arrangements for Dollar day. r , reading of the announcements of tne merchants in '' e advertising colUftJlw of the Altoona Mirror will convffidff, fu the most skeptical that it Is going W»£ be a day of extraordinary bargains *jJf*Jl everybody. ,, l( » It should also be stated that th^rfS will be no lowering of standards. TJ(l* day has long since passed when It ib the occasion for merely moving out at bargain counter prices of unseasoti- able and shopworn stuff. The good* will be entirely of the standard quail/ ties carried by the respective stores, but with prices cut anywhere from f J5f) to 200 per cent. No matter what your requirements may be, you will be abl« to fill them at the Booster stores* Look for the stores displaying th* yellow Dollar day window cards; they direct you to the official Sdostft stores. Come prepared to spend th« entire day shopping in Booster stores, from 8.30 a. m. to 5.30 p. m. Ta,ke lunch at a Booster restaurant or hotel or in the restaurant in one of the Booster stores, then when you get through shopping attend a Booster theatre for entertainment before returning home. . u,- Dollar day in Alloona has one of th.* attributes of the county fair. Everybody goes and all have the opportunity of seeing their friends. Keep in mind the day, Wednesday, Nov. 13. If you live in Altoona, go to the business district and If you live elsewhere, come and spend the day in the city.* NO ARMISTICE TODAY IN „, DISTRICT LIQUOR FIGHT WASHINGTON, D. C., Nov. it— There was no armistice today in th« District of Columbia liquor battle. While three reporters remained in jail for refusing to swear to evldeftfce they reported in a newspaper expose, three other persons were summoiWd by the grand jury. ""• E. E. Loomls, Lehigh v Valley president, and Frank H. Hlght, Willard hotel manager, were to be asked about the senatorial dinner which Senator Smith Brookhart of Iowa at- r tended at the hotel In 1926. Brookhart was at outraged, he said, at the liquor he saw consumed, when Irfit week he told the senate and the grand jury about it. t Walter W. Liggett, magazine writer, also was "invited" by United States Attorney Leo A. Rover, to tell tjie jury today about the investigation of liquor conditions which he described' in a current article in plain talk. H« estimated that 30,000 gallons of liquor are consumed weekly in the capital. Liggett described minutely th« sources of his information in his aftl- cle, which_was based on interviews with unnamed bootleggers-and named, police and officials. The reporters of the Washington Times were sentenced to forty-five days for contempt of court because they refused to swear to evidence'lBf illicit liquor sales. . •' b OVJUCKn IMPROVING. Mo.torcycle Officer Russell C. Sell, wounded in the right leg and left foot by the premature discharge of a revolver as he was sending a report to city hall, four weeks ago, is still confined to his home at 5704 Maryland avenue, Tho bones in tho foot were shattered many pieces being taken out. The healing process la Blow but seemingly satisfactory and ho will be able to resume duty before long and although his foot will be weakened, it is not believed he will be crippled. SAVE YOUB EYES Your eyes should be examined at least once «, year, especially after you have reached the age of forty. Orthogon or Tillyer, wide angle lenses, fitted to correct any defect you — may have. MAODONALD'S Spectacle Bu»* 0 On the corner of llth-St. and Greta Ave. over 20 years. -"""H Authorized Dealer* RADIO On Sale at „ ,,' The J. E. Spence Electric Store 1310 12th Ave. Dial 41U Anti-Carbon M Soot Destroyer Positively • Vnexploilve X5o and 500 DOUGHERTY HDW. STORES llth Ave. llth St. 7th Ave. 7th St.' ,<& 't PITTSBURGH, Nov. 11.—As a result of tho death of James McCormlck aged 58, who was said to have fallen down the stairs of an alleged club n Penn avenue yesterday, police were lolding two men today while deputy coroners investigated. Two alleged attaches of the club who gave their names as John Collins, aged 41, Pittsburgh, and Paul Szutswach, aged 48, Sharpsburg, were the men arrested. Police said they were told McCormick fell clown stairs while leaving the place with a friend. McCormlck's skull was fractured and several ribs broken. ONE DEAD; THREE ARE ILL IN FAMILY FROM TYPHOID CORRY, Pa., Nov. 11.—Three members of tho family of Mr. and Mrs. Carl Anderson, whose 7-year-old son died yesterday of typhoid fever, were pa- llents In the hospital here today suffering with the same disease. Another child of tho family sub milled to an emergency operation for appendicitis last week. CONHTAHJ.E IN.JUHKO. Constable George P. Fresh of the Fifth ward is confined to bed at the home of his sister, Miss Agnes E. Fresh, 712 Chestnut avenue, suffering from right leg Injuries and body bruises received when he stepped in an open cellarway In a Twelfth street restaurant, Friday. His leg wound Is fearfully sore and painful and may Incapacitate him for duty for some time. The time to put your insurance problems in our hands is before you suffer loss. A phone call today may save you loss tomorrow. We Announce the Appointment of HARVEY O. RAUGH 1121 20th Ave., Altoona, Phone 2-8921 Pa. AS DISTRICT AGENT FOR THE AETNA LIFE INSURANCE COMPANY, Accident & Liability Dept., AETNA CASUALTY and SURETY COMPANY, AUTOMOBILE INSURANCE COMPANY, of Hartford, Conn. J. W. HENRY, Manager and Adjuster for Western Pennsylvania

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