Altoona Mirror from Altoona, Pennsylvania on November 12, 1929 · Page 33
Get access to this page with a Free Trial

Altoona Mirror from Altoona, Pennsylvania · Page 33

Publication:
Location:
Altoona, Pennsylvania
Issue Date:
Tuesday, November 12, 1929
Page:
Page 33
Start Free Trial
Cancel

(pj 1 *- 1 1 V( THE ALTOONA MIRROR—TUESDAY, NOVEMBER 12, 1929 MARKETS FOR TODAY MARKET'S OPENING AGAIN VERY WEAK Greatly Increased Volume and ' New Lows In Early Trad- NUMBER OF ARMISTICES THAT NATION COULD NOW DECLARE Here By B. C. FORBES. are armistices this nation ing Are Followed Partial Bally. by a BULLETIN. NEW YORK, Nov. 12.—Plunging downward Under a torrent of frenli and urgent liquidation, the stock market today sank to new low levels and on a greatly Increased volume of business, . 0.1 V 10 ftl By GEORGE T. HUGHES. (Copyright, 1920, by Altoona Mirror.) WALL STREET, NEW YORK, Nov. 12.—Extreme weakness, greatly increased volume and new' lows for pivotal stocks in the early tradfng In today's market were followed by a partial rally as support made its appear- ,ance, first for United States Steel and then for other leading industrials and rails. The recovery, however, did not hold. Before noon the market was again plunging downward, with leading stocks, such as Steel, General Electric and Consolidated Gaa selling at the lowest of the day, Sentiment was adversely affected by the fact that the averages for both groups made new lows at the close on Monday. The increase in turnover in the last half hour of that session Was also taken as an unfavorable sign. The consequence was that at theopenlng today the market was flooded with selling orders and sharp declines were recorded on' the initial transactions. New York Central started in on 12,300 shares at 167%, a • new 1929 low, and this In the face of an Income state- I ment showing large increases for the September quarter over the same period a year ago and for the nine months to date. General Electric around 190 was down 3 points from the preceding close and likewise at a new low for the year. United States Steel broke through 158, Air Reduction through 90 and Southern Pacific through 115, all to new lows. ' For nearly an hour the market was without support but then, just when it threatened to get out of hand, buying came into United States Steel, lifting the price above Monday's final, and the rest of the market staged a rally. The tape before noon fell more than a half hour behind and volume ran up to the highest since last Thursday. In the first half hour the turnover was 1,556,900 shares, where as In the corresponding time on Monday only 659,100 changed hands. Rumors that something was "overhanging the market" were without basis, so far as could be learned. There was, however, a total lack of buying power on the part of the outside public and a disinclination on the part of professional traders to attempt contesting a trend which seemed so well established. If comparison Is made with the highs of the year the losses at today's prices are almost fantastic. Montgomery Ward at 53 was down over 103 points from the 1929 top, General Electric at 190 was off 213, New York Central at 168, down 88 points, and so on. In the same way yields on the sea- k eoned dividend payers were higher than'they have been at any time this year. Anaconda at ~80 returns 8.8 per -<sent, Bethlehem Steel at 82 gives 7.3 per cent and Hudson Motors at 45 over 11 per cent. The street, however, Is not interested in what has happend in the way of declines or in what is returned at present dividend rates and prices,.but. in what is going to happen in the future. Until there are some statistical data available as to the effect of the stock market collapse on earnings of individual companies, the average trader will not be convinced. New York Produce. NEW YORK,. Nov. 12.—Potatoes quiet; Long Island. $2.90@$8.15; Maine, $4.00@ $5.10; Eastern Shore Canada, $2.50. Flour dull and unchanged; spring patents, $8.308>?8.75. Beet steady; family, $27.00@$28.60. Fork dull; mess, $28.50. Lard quiet; middle west spot, .1090® .1100. Petroleum, New York refined, 15c; crude Pennsylvania, $2.704}>$3,05. Spirits turpentine quiet, 53c@64f. Tallow dull; .special to extra, 7%c@8',4o. Hides quiet; Central America, 17Vic. Dressed poultry easy; turkeys, 25c@46c; chickens, 25c@36c; fowls, 20c@34c; ducks, 18c&28c; ducks, loni; Island, 25c<jii27c. Live poultry dull; geese, 13c5c21c; ducks, 16c©28c; fowls, 23e<&31c; turkeys, 30c(o>45c; roosters, 21c@22c; chickens, 22c{i'28c; capons, 30c&i40c; broilers, 29c@34c. Cheese quiet; state whole milk, fancy to .•pedals, 27%c@29%c; Young America, 24c could profitably declare at this time: An armistice on senatorial and other political probes Into business. ' An armistice on Washington clamor to turn our banking system upside- down. An armistice on endless tariff wrangling. An armistice on every form ot political attack calculated to Injure prosperity. In Wall Street: An armistice on diabolical rumors concerning institutions, firms, indi- vduals. An 'armistice on vicious attacks on the stock market professional bears. An armistice on avoidable dumping of stocks bankers. by the big six and other An armistice on hysteria of every kind and description. An armistice on the formation and flotation of additional investment trusts met a good demand and fancy whites sold at $1.00Cy)$1.25 per 3-pound basket while poorer stock sold aa 'ow aa 60C. Spinach was dull and brought 25cig)50c per bushel. Potatoes were In liberal supply and Pennsylvania round whites sold at $2.50® $3.00 per 100-pound sacks with most stock selling at $2.75<ijJ$2.85. Beets and carrots were about steady and both sold at l%o@2%c per bunch. Leeks brought 2c&3c. Celery met good demand and wired bunches sold at 10ciS)12 Vic with extra fancy bringing 13c@15c and poor selling as low as 5c. Cabbage was barely steady and sold at 2BcV£35c per % basket while Savoy brought 20cfai30c. Turnips were very dull and a few sales were reported at 15ciffl25c per % basket. Parsnips brought 60c4fG5c. Apples moved slowly and Staymnn brought $1.50<ii)$2.50 per bushel while Yorks sold at ?1.25fi/>$1.7. r > according to quality. Sweet potatoes were unchanged. Butter declined after lower New Jfork advices. 93 score, 44c; 92 score, 43c; 91 score, 41 %c; 90 score, 39c. Eggs firm. Fancy whites, 65c; mixed colors, 60c. Fancy western nominal, around 63c@55c. Fancy storage held firm at 41cfi> 42c. Today's New Vork Quotations. Quotations furnished for Altoona Mirror by West i Co., members of Philadelphia and New York Stock exchanges, local office, First Natlorial Bank building. High. Low. Close. RAILS: Atchlson .• 213 Baltimore and Ohio ,. New York Central ... Chesapeake and Ohio . Delaware and Hudson 205 Vi 205% 114 110 VI HO'A 171% 163 163 176 175% 175% 160 ' 155 Vi 158 Erie 80% 45% 46% Great Northern 84% 93% 93% Kan. and Southern .. .:. 69 % 08 68 Missouri Pacific 60% 58% 58% Canadian Pacific 197% 195% 19BV6 Norfolk and Western ... 218 214 214 New Haven 100% 99% 99% Northern Pacific 84'/ a 81 81 Chicago and Northwest . 81 79% 79% Pennsylvania 81% 80 80 Reading .115 114 114 Rock Island .... 111% 110 110 St. L. and S. F. 107 lOSli 107 St. Paul, Com. 20 18% 18% St. Paul, Pfd 34% 31% 3114 Union Pacific 20B " 200 Western Maryland .. ..18% 16 INDUSTRIALS: American Can 104 96 U Allied Chemical 204% 200 Amer. Foreign Power .. 04 55 Allls Chalmers ..... ... 40 Vi 203 IS Amer. Locomotive 95 209 200 Vi 55 39 Vt. 95 37 95 20214 203 6'A 6'A 614 3% 3% '3% 30 30 'M'A 'M'A 716 TVj. 55% 17% 12% 47 % 9 27 '/a 98 78 j 31 vd 45 '/i 28 Vi ,4B% 68i/i 184 57 9T4 / "*\ . Sweet potatoes steady; Jersey, banket, 6Sc ©$2.25; southern, barrel, $1.75®?2.25; southern, basket, 90c@$1.25. Hides (city packer) dull; native steers, 18%c; butt brands, 18c; Colorados, 17c. Pittsburgh Livestock. PITTSBURGH, Nov. 12.—Prices on the Pittsburgh livestock market were; Hogs, receipts 1,000; market fully steady; 160-240 IDS., $9.70{!)$9.75; 240-300 Ibu., $9.25 <rj>$9.65; 100-140 Ibs., $9.00 @ $9.35; sows, $8.00&$8.50. Cattle—None. Calves, receipts 50; market steady. Goad to choice vealers, $14.50@S18.50. Sheep, receipts 500; market fully steady. Few decks and odd lots heavy weight lambs, $11.50@$13,00i age'd wethers, $0.00 @$7.25. Pittsburgh 1'roduce. PITTSBURGH, Nov. 12. — Live poultry— Hens, 16c@30c; roosters 18c(B>19c; geese, 18c@20c; springers, 20c@25o; ducks, 23c(g> Dressed poultry—Hens, 38c@>45c. Butter—Prints, 49%c<3>50o; tubs, 48Vicij> 49c; Ohio, 43c@44c. Eggs—Fresh, 56c@60c; western select, 64c @i56c; current receipts, 40c@49c. Philadelphia Produce. PHILADELPHIA, Nov. 12.—Mushrooms LITTLE ITEMS OF INTEREST Amer. T. and T. *. Armour,' A Armour, B -. Bendlx Corp t 31 Bosch Magneto* .., 31% Boveri 7 Vi Columbia Gas 61% Columbia Gramaphone .... 22 Congoleum ....' 13% Continental Can 49'Ji Curtlss Aero 9% Davidson Chcm 28 < Dupont deNemours >,...., 102 Elec. Storage Btry 79 Vi Elec. P. and L 304% Famous Players 48 Vi Frecport Texas 28% Goodrich 50% Goodyear 71 General Elec , 196 General Refractories 60 Intl. Combustion 11VI Kelly-SprlngQeld 5 4% Kolster Radio 8Vi 7% Kreguer and Toll 25 24% Lorlllard 17 15% Montgomery-Ward 54% 50% May Dept 57% 53 Intl. Nickel 31 28% North American 81 78% Natl. Cash. 67 01 Natl. Dairy 47% 45 General Foods 40 43 Pub. Service, N. J 63% 55 Radio ...• 33% 30 Radio-Keith 17 15 Vi Remington-Rand 28% 26% U. S. Rubber 25% 25 Scars, Roebuck 94 88'A Standard Gas 89% 81% A. Schulte 10% 9Vi Stand. Sanitary 31 Vi 30 Trlco 32 32 Texas Gulf 52 48 Utilities P. and L. A 30Vi 29% United Corp 26 22 United Gas and 1 28Vi 25 United Aircraft 42% 37% zWarner Brothers 37% 35 VB Wcstlnghouse Airbrake .. 42% 40% Westlnghouse Electric .. 116 110 Woolworth 62% 58 MOTORS! Continental %.-..- 8% 8 8 Auburn 150 140 140 Chrysler 31 297s 30 Hudson 44%> 43% 43% Graham-Paige .. r. 9% 9 9 General Motors ......... 41 'A 39 39 Hupmoblle 21% 19% 19% Packard ...." 15% 15 15 Harmon :... ,.. 25 22 Vi 25 Mack 66 64% 05 Nash 49% 48 48 Reo 12 11W 11% Studebaker ;.. 43% 41% 42 Willys-Overland 9% 9Vs 9% White 30 20% 29',f, Yellow Cab K. 1054 9% 9% STEELS: Bethlehem -.1 •. :< 85Vi 81% 81% Central Alloy 36 35 35 Cast Iron Plpo 16% 15 15 Crucible .• 80% 80% 80V4 Gulf States 49% 49 ii 49% Vanadium 50% 44 44% Otis 34 32 32% U. S. Steel 159% 153y t 153% 65 Vi 19% 49 9 27% 98 78 31% 45% 28% 40% 68% 184 60 9 7 /> 4% ' 7% 24% 15% 50% 53 29 VI 78% 61 45 43 55 30 15 Vi 28% 25 88 Vi 81% 30 % 32 48 30 23 25 37 Va 35% 40% 110 58 until the legions already created have proved their merits. An armistice on all unnecessary new security issues. An armistice on needless, alarmist withdrawal of "bootleg" lonns from Wall Street until nervousness has completely subsided. An armistice on front-page, scnre- head stories on the now quieting-clown daily dealllngs on the New York Slock exchange. In business: An armistice on spinelessnoss. An armistice on wholesale cancellation of contracts. An armistice on shortsighted initting- down of advertising and other sales- efforts. An armistice on unwarranted price- cutting. An armistice on avertible discharging of employes. An armistice on direful predictions of what the stock market's decline will do to Christmas and other trade. An armistice on sensational forebodings and prophesies about losses to be suffered by instalment sellers. An armistice on neglecting business to worry about speculation. Further: An armistice on labor disputes. An armistice on wage changes, either down or up. An armistice on condemnation of the farm board until it has had fuller opportunity to demonstrate it.s ability to cope with the problems concerning it. An armistice on interstate commerce commission and federal trade commission rulings likely to cause disturbance And, finally, an armistice on all succumbing to temptation to violate the golden rule, thus attaining the supreme objective for which died those whose memory Armistice day honors. P. S. • Jutling by the small volume of trading on Friday and again yesterday, an armistice has been called on stock market alarm. (Copyright, 1929, by B. C. Forbes.) IN GRAIN MARKET By GEORGE C. SCHNACKEJL (Copyright, 1929, by Altoona Mirror.) CHICAGO, Nov. 12.—Grain traders returned from a two day holiday this morning to run against a demoralized market badly upset by the break in stocks and the weakness In foreign markets. Opening prices were off % to % cents under general liquidation and stop loss selling, There was short covering for profit and buying against Indemnities on the break which caused a fair rally but the improved prices brought out selling from early buyers and values slumped again. Corn was much lower, too; under liquidation and stop loss selling Inspired by the bearish government crop report and by the break in wheat. The crop report indicated a yield of 2,621,000,000 bushels or an increase of 93,000,000 over that indicated a month ago. Short covering was the only market support. Bue os Aires was off. 3%c to 3%c. Oats went down with the rest of the grains. Provisions sold off with grain. xxRepubllc Reading C. and I. 72% 70 11% The Pythian Bisters will hold their annual roll call tomorrow evening at • 7.30 o'clock in the Pythian temple at Eighth avenue and Eleventh street. All members are asked to be in attendance. Evangelistic services are now in progress at the First Mennonite church at Fourth avenue and Twenty- lifth street and are in charge of Evangelist N. E. Trpyer of Cable, O. The services are well attended and the audience listened to the subject, "Seven Reasons Why Every Person Ought to Be a Christian." The question stressed was "What a Christian la?" The eubjeet for this evening ie "Bible Separation" and tomorrow evening "Repentance." Song and praise service is held at 7.30 o'clock with the sermon at 8 o'clock. Charles H. Shingler, a senior student at Penn State, has returned to college after spending the week-end and holiday vacation period visiting at his home, 325 East Walton avenue. FINANCIAL NOTES. (Copyright, 1929, by Altoona Mirror.) NEW YORK, Nov. 12.—New York bank clearings, tl,721,000,000; New York bank balances, $193,000,000; New York federal reserve bank credit balances, {137,000,000. Amer. Smelting ...-« ... 70 ?» Anaconda .»• • 81 ] /i Calumet and Hecla .... 30% 3erro de Pasco 85 % Jranhy • 58 inspiration .... «. 28% Kennecott . • • • «J ii Miami .... 29 Magma Copper nl'/n Nevada 31% Great Northern Ore .... 24 Tennessee • 12 Vi U. S. SmeltinK 38 % OlIJi: Atlantic ReQnlng WVt' Asphalt •• .45'/i Beacon 17 Barnsdall 23% Indian Refining 18 Independent 22% Standard Oil N. J 57 Mid Continent 25% Mexican Seaboard 14% Continental Oil 23% Standard Oil N. Y 33% Phillips Pete 30% Pan American B 58% Pure Oil 22'/i Rlchtleld Oil 28% Sinclair 20 ti Standard Oil Calif 63 Sun Oil 80 Shall Union .' 22% Skelly Oil SOU Texas Company .-... 52 Union Oil, CoJit 49% Houston Oil 40 Vi Sales, 6,440,000 shares. Money, 6 per cent. Div. 1. Publicly controlled colleges and uni- •v.-rallies in the United States enroll • bout 40 per cent of all students, private non-sectarian institutions 31 per 66% 77 30 59% 53% 27% 58 li 28 49 28 % 23 10% 35 38% 43 17 22 M 16% 22% 54 25 13% 22 14 32 Vi 29 Ii 57% 21% 28% 25 B2V4 60 21% 30 61% 45'S 36 V4 CUBB MAUKKT. Pennroad Corp 17 Ford of England ......... 11 Vt General Theatre 26 City Service 27% 11 Ti 28 29-li 70 11% 60% 77% 30 59% 53% 27% '58 Vi 28% 49 28 '/, 23 in% 35 38% 43 17 22% 18 22% 54 25* 14 22 Vi 32% 29V. S7VC 28 Vj 25 62 Vi 60 21% 30 81% 45V 38V 17 11 26 299 In South America there are som trees known as "cow-trees," which when pierced, yield a rich, milky, nu triUous juice in ouch abundance COMMODITIES SACRAMENTO] NOV. 12.—Lemon _ rices, which are the highest now they lave been for California lemons .for a ong time, are expected to remain itrong until the scarcity is relieved larly in the new year. Quotations of rom $10 to $13 for shipping points lave been caused by the light crop, ack of foreign supplies and strong lemand, which has been a steady growth during the last few years. Packing House Products. CHICAGO, Nov. 12.—Poor retail rade has resulted in rather sharp declines in wholesale meat prices. Pork cuts are $4 a hundred lower than a week ago, veal and lamb cuts $1 lower nd steers 50 cents lower. Calves and mutton cuts advanced $1. Steel. YOUNGSTOWN, O., Nov. 12.—Wages of' iron, steel and tin plate workers l be unchanged for the November- December wage scale period, as a result of a study of steel prices. Prices of 26, 27 and 28 gauge black sheets are 3.05 cents a pound, leaving the wage rate 27 per cent above the base •ate. Grain. ENID, Okla., Nov. 12,—Grain men lere see in the congestion of ports of -louston and Galveston a loss of about cents a bushel for farmers of northern Oklahoma. Unless the grain s loaded by Nov. 15 It will cost the farmers 3% cents a bushel. Commission men have been holding the wheat at "shipper's risk," it is claimed. Some of the 12,000,000 bushels has been at the port ever since last July. Itubber. AKRON, O., Nov. 12.—Plans for a tire plant for Argentina were an- nbunced here by P. W. Litchfleld, president of Goodyear Tire and Rubber company, who has just returned from a business trip to Central and South America. Tires for the Argentine trade s will be produced in the new plant. Wool. BOSTON, Nov. 12.—California fine wools remained neglected in the wool market today despite further declines in asking prices. Best northern wools were held on a clean basis of 80c to 82c and middle counties at 7Sc to 78c. Fine territory combing clean was quoted at 89c to 91c, French combing 87c to 88c, half blood 88c to 90c, three eighths blood 87c to $8c and quarter blood 79c to 80c. Fine Ohio fleeces were quoted at 36c to 37c grease basis, half blood 44c, three eighths blood 44c three eighths blood 44c to 45c and quarter blood 43c. Dryjfoods. NEW YORK, Nov. 12.—Cotton gooda markets were quiet again today. Print cjotha were quoted unchanged at 7 3-4c for 64x60a and at 8 3-4c for 68x 72s. Raw silks were quiet ifnd steady. Rubber. NEW YORK, Nov. 12.—Crude rubber, smoked ribbed sheets, declined 5-8c at today's noon quotation of 10 cents. This compares with 20c a month ago and 18 3-8c a year ago. (Copyright, 1929. by Altoona Mlrroi.-) GENERAL FINANCE OUTLOOK OF TODAY By CHARGES F. SPEARE. (Copyright, 1920, by Altooim Mirror.) WALL STREET, NEW YORK, Nov. 12.—The sinister future of the present stock market, emphasized In today's numerous new low prices on renewed offerings of large individual blocks, is in apparent inability to rally from the heaviest shrinkage In values on record. This clearly betrays two unfavorable conditions, namely, steady liquidation for the account of those whp have been seriously affected by the price collapse, and the limited buying power of the public and corporation Interests that are depended upon at such times to give needed support. It also represents the clearing up of a great deal of wreckage that developed in the October break, the overthrow of weakly margined accounts and a bolder campaign by the bear elements, encouraged by the feeble rallies and the knowledge of stocks that must be sold and are still overhanging the market. In all of the minor declines of the past year It was always possible to buy stocks on the breaks and quickly realize a considerable trading profit. This game was played successfully not only by the public but by the trading corporations. Both expected to duplicate it on an even larger scale from thu purchases they made in the various breaks, such as those on Oct. 24 and Oct. 29 and one or two occasions this month. Latterly, however, condition^ had been against them. Instead of realizing gains on stocks bought when they were conspicuously weak, they have experienced substantial losses. Naturally they have abandoned a program that otherwise would have lent its aid in support of a declining price list. In point of shlnkago the present decline far outruns any other in Wall Street history. One economist' places the depreciation in market values as high as $45,000,000,000. This would be the equivalent of 60 per cent of the annual notional income. It is probably too high. It does not represent the actual destruction «f wealth but rather the loss of paper or imaginary profits of those who had been carrying stocks over a period of from one to three years. Reducing it to its probable maximum it still represents a figure so large that it cannot help but affect business and postpone developments that are always closely allied with the fortunes of the great financial centers of the country. At another point the market has alao shown a striking difference frbm those that have moved downward In other years. Probably the nearest parallel to the present unsettled situation is that of 1907, when liquidation- started in the spring in what was then known as "the silent panic" and was not completed until the following October. In less than two months -the 1929 market has shown approximately as great a percentage of decline in stock values as in the ten months of 1907. This swiftness of market movements downward has been the most argument on which to base the prospect of completion of liquidation and a secondary rally that would cover not two or three days, such as these that have now occurred, but extended over several weeks or possibly a month. The fact that the market has failed to follow its traditional trend has had much to do with the withholding of buying orders in spite of the fact that opportunities for investment In high grade railroad, public utility and industrial stocks, and at excellent Income returns, are greater than they have been in over two years. There have been few Indications lately of support from the banking consortion. Some small evidence of its appeared this morning in stocks like United States Steel. Its policy appears to be to let the market run its natural course but to be always ready to protect It against any serious break. The position of this pool was greatly improved when it resold last month on the rallies a substantial portion of the stocks which it was compelled to buy late In October. FURTHER PRESSURE IN COTTON MARKET PRICE CHANGES IN LIVESTOCK SMALL Hy GEORGE DKWITT MOt'LSON (Copyright, 1929, by Altoona Mirror.) NEW YORK, Nov. 12.—Pressure on the cotton exchange market continued today, Influenced by further break in securities and increasing talk of the necessity of mill curtailment to adjust the goods situation. ' Figures of the Toxtilo association showed sales only 78.5 per cent of production with a falling off in unfilled orders at 9.8 per cent. Though the New York cotton exchange service estimated domestic consumption during October at 635,000 bales compared with 610,000 last year and 545,000 during September, 1920, reports that South Carolina mill representatives • were meeting today to discuss a curtailment program offset the influence of large consumption figures for the past month. The whole market broke into new strong low territory for the year with both December and January here under 17c and though prices rallied a few points at one time, pressure persisted as a direct result of unsettling developments outside the cotton industry. Liquidation occurred In several directions while hedging pressure from the south proved a feature on both the New York and New Orleans exchanges. Scalo buying orders for the trade were filled at receding quotations without meeting sufficient buying power to furnish definite resistance. Trading was the heaviest of the month. REAL ESTATE TRANSFERS. - o Thomas P. Ghcer and wife to Bor- •, ough of Bcllwood, Bcllwood Alice Schell, widow, to Fred N. Sellz, Harrison avenue, Schell's addition, Altoona Fred N. Soltz and wlfu to Rus»cll C. and Helen Feather, his wife, Harrison avenue, Schi'll's addition, Altoona G. W. Shaffer and wife to Duncan and Edith E. Ferguson, his wife, 413-415 Ninth avenue, Junlata, Altoona Mrs. Fanny L. PtiK"., widow, to J. F. Creegcr, Martlnsburg Merrcl J. Stonerook and wife to Edytho Goodman, Hlllslda avenue, Klnsel plot, Altoona Edythe Goodman, single, to Merrcl J. and Dorothea M. StonnrooK, his wife, Hillside avenue, Klnsel plot, Altoona Bertha Moyer and husband to Cyril J. and Cora M. Fisher, his wife, 1711 Twenty-eighth avenue, Altoona Went Junlata Realty company to L. Jl S105 Jl $t B. .Mackey, 912 Junlata, Altoona,, Park Boulevard, TODAY'S BANK CLEARANCES. The bank clearances for the day, announced this forenoon by the Altoona Clearing House association, amounted to $257,680.68. (Copyright, 1929, by Altoonn Mirror.) UNION STOCK YARDS, CHICAGO, Nov. 12.—Few prices changes occurred In livestock markets today. The tone to the trade was steady. Only 8,000 cattle arrived but the decrease in the supply did not help the market materially. There was slow trade on Ihe lower quality steers selling from 10.00 to 12.00 but more activity was shown for the kinds selling at 12.00 to 14.00. Cows and heifers sold strong, with bulls steady to strong, and calves moving well at 35.00 and higher. Yearlings were slightly higher with one. load of fat animals at 15.00. The hog market wag active and turned out steady. Some early sales were 10 cents lower but the close was as high os the best time Monday. A top of 0.40 WUB paid for several loads of of good hogs m'oved at 9.00 to 9.35. Packing sows brought 7.75 to 8.60. The run was 41,000. Prices held steady for sheep on a run of 10,000. Packers had few direct and bought the bulk at 12.00 to 12.f>0. A few choice fed western lambs sold at 12.75 and one load went at 13.00. Ewe.H were Htrong. Bt'lMHNG PEHMITS ISSL'EI). C. II. Cassidy took out permits al till! building inspector'H office today 1.0 change windows for T. H. Walter, Jeweler, at 1323 Eleventh avenue, to cost. $150, and for roof for Gutwnld Kcllcy nt 2521 Industrial avenue, $200. I. T. Long will remodel front for Mr. Aaronson at 1117 Eleventh avenue, to cost $200. I?? L A T 11° CLASSIFY HELP WANTED—MALE IT IS DESIRED TO INTERVIEW ON Wednesday a few rncn of outstanding sales ability; of nggresslv-.! and progressive typo and ones of financial responsibility who can furnish references of the highest order, with the Idea of fastening upon the services of a typical business man for the opening of a branch of the Hlckman-Bryant Corporation, Inn., now the fastest growing organization In Washington, D. C. We have patented the liest form of weather-proofing called "WEATHER-LOX" which seals double hung windows at 1-3 the cost of the old style weather-strip. If you desire going Into the fastest growing and most profitable business In the country today I shall be at the Wllllnm Ponn hotel. Ask for Mr. E. B. Swallcs." BOND MARKET IS UNDER PRESSURE ( Copyright. 1920, by Allormn. Mirror.) NEW YORK, Nov. 12,-Bond prio.es were again under pressure lodny and losses were general through the list, with the exception of a few government and legal descriptions. Liberty fourht 4'4s made a new high for the current movement and treasury •li/js were up slightly. Atchlson general 4s, Baltimore and Ohio first 4s and Northern Pacific 4s were fractionally higher. The downward tendency of the rest of the list was clonrly a continuation I of the forced selling that 1ms preyed ' so continuously on the bond market ! during the depression In stocks, because apart from the purely technical conditions, bond news today was good. Union Pacific railway announced the retirement of $45,000.000 Oregon Short Line 4s, due this year and guaranteed by the Union Pacific. There was no sing fund for this issue and it to be paid out of cash. The bonds have been within a fraction of par for some time. Other news was the announcement of the issue of $20,000,000 6 per cent notes by the Nickel Plate with which to buy certificates of deposit of the Wheeling and Lnku Erie railroad, previously owned by the Allegheny corporation. An offering of $18,500,000 5 per cent bonds nf the harbor commissioners of Montreal was at 99'/&. These bonds are unconditionally guaranteed by the Canadian government. The declines In Brazilian and Colombian bonds, which have also affected the obligations of neighboring countries, not only represent unfavorable economic conditions hut a certain amount of distress selling on the part of Institutions that bought these issues whnn they were so popular a year or two ago. In some cases the declines from the high of the year amount to from 20 to 30 per cent and even more when compared with the issue price. BUSINESS , DETROIT, Nov. 12.—ManufActut-Btf ;i products of Michigan during 1929 will aggregate $5,000,000,000 in value, ac-M cording to a Detroit board of com* '•>. merce estimate. The state tvill purj ; chase raw materials and semi-flnlshea. products from other states to the valu6 • of $3,000,000,000. The state's lndus^< trial pnyroll Is expected 'to exc'eed.; $810.000,000 with Detroit workers drawing a total of $560,000,000.. , U. S. TREASURY BALANOJB. , WASHINGTON, Nov. 12.—United States treasury balance as announced , today as of the close of business day;^ Nov. 9, was $146,539,596.12. Custom" receipts for the month to date, $14,481,765.3-1. Total expenditures, $15,-* 404,796.92. Unfurnished Apartments 3-ROOM APT. FOR RENT. HOT WATER hoat, electric light furnished. Inquire Brunswick Apt., 8th Ave and 10th St. METROPOLITAN SANLO LINCCLN As participants in this event, we wish to invite the people in our community, who are interested in fine motor cars, to attend. It is our plan to send a Lincoln car daily to the Salon, and will be glad to make appointments for this transportation • with those interested. Nov. llth, 12th & 13th, 10 a. m. to 11 p. m. Hotel Schenley Pittsburgh, Pa. GETTMAN MOTOR CO. Beale and Union Aves. Phone 6141 cent, and church-controlled colleges, 29 to render it an important article o per. too** FUNK-ALTO DIVIDEND. The Blair Hotel company, owners of the Penn-Alto hotel, today distributed among their stockholders the regular aemi-annual dividend of 2 per cent. The stockholders generally received their dividend checlta In tola morning's " These wives of ours! W E took them from the shelter of their families, gave them two or three rooms and a share of our salary —then left them silting there among the wedding presents, a bit bewildered'. But they knew how—these ivives of ours. They knew how to make rooms into homes, and how to get more merchandise out of a dollar bill than vve ever could. We're lucky to have wives. How do they do it? Look through this paper, day after day. You will find advertisements covering almost every human need. They are filled with hints for the household, hints for health, hints for clothing, hints for keeping young They are virtually little essays on life. No wonder these wives of ours follow them so carefully. As one wise wife said: "It isn't so much that I know housekeeping so well. I know where to learn it!" Most advertising is prepared especially for Read it. ft forms an authoritative text-book on good housekeeping. women. SAVE YOUR EYES Your eyes should oe examined nt' least once T year, especially after you have reached the age of forty. Orthogon or Tillyer, wide angld lenses, litted to correct a.ny defect you may have. MAC/DONALD'S Spectacle Bazar On the corner of llth St. and Green. Ave. over 20 years. D. S. Menchoy Dependable Plumberi and Heateri. 807 Seventeenth St. Phone 2-8575 Repair Work Our Speciality Majestic Radio Sold by THE .1. E. Sl'KNUJfei ELKCTBIC STORE Authorized Doulers IHIO mil Ave. Dinl 4181 Millions of Safety Symbols Each year more than 120,000,000 labels of the Underwriters' Laboratories are attached to various articles, devices and materials used by the American people. Many of your housekeeping utilities —much of the equipment which serves in the homes, stores, factories, offices, schools, theatres and other public buildings—bear the well-known Symbol of Safety—the label of Underwriters' Laboratories, Inc.—because they have earned that right through severe test and inspection. Manufacturers Co-operate In co-operation with .many thousands of manufacturers, the Underwriters' Laboratories scientifically 1 establish and safeguard the fire and accident hazards of many thousands of different devices and materials. In 1928 this work involved nearly 60,000 inspections in 63 cities, hundreds of re-examinations, and approximately 4,800 laboratory tests and examinations by the more than 400 engineers and especially trained employes. A Public Service Underwriters' Laboratories, incorporated in 1901, was established and is maintained by The National Board of Fire Underwriters. It is now the largest privately owned testing laboratories devoted to the conservation of life and property. The principal testing station is in Chicago. It is an exceedingly interesting place to visit. Scientists and engineers from all over the world go there to see the. work and examine the methods used. The public is always welcome. By thus safeguarding life and property the Stock Fire Insurance 'com- panics make one of their most substantial contributions to the public welfare. THE NATIONAL BOARD OF FIRE U N D E*R WRITERS 85 John Street, New York A NATIONAL ORGANIZATION OF STOCK. FIRE INSURANCE COMPANIES ESTABLISHED IN mt

What members have found on this page

Get access to Newspapers.com

  • The largest online newspaper archive
  • 11,200+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free