Evening Star Newspaper, March 24, 1929, Page 37

- TRACTON VR OND. . XCHANGE C. & P. Telephone Earnings Are Higher—Larger Sav- ings Accounts Urged. BY EDWARD C. STONE. Capital Traction stock was stronger on the Washington Stock Exchange yesterday, closing a point higher than on Friday. It opened with 10 shares selling at 96’ followed by 96, 10 at 96’ at with selling at 96 fla Among the other issues Potomac Power 515 per cent preferred” sold at 108'- on a nines share transfer, 10 shares of Wash- ington Gas moved at 115 and 10 more at 1147, and two,, shares of Railway & Electric prefer- | | i 110 101 ! 108 a7 115 108 1007 1151 113 961 5% 103 | 100% 44% 108% 106 THE SUNDAY UNITED STATES GOVERNMENT. —19e High 99.31 100.8 100.12 98.18 98.20 Low. 97.10 Lib 315 1932-47. 9810 Lib 1st 4145 1932- 98.22 Lib 4th 41,5 1933- S 335 1940-43. S 3%s 1943- S 3% 5 1046-56 S 1944-54. .. v u 984 Argentine 5s Tu: 99 Argentine 6s A 92% Australia is 98 Belgium 6s Belgium 718745, 108 Belginm 8541 99 Bordeanx 6s '3 91'3 Brazil 6738 1926 105% Brazil 8= 4 Canada 5 99% Canada 5'5s 85 Chinese Govt Ry 94 Copenhagen 5 Sl 109 Czechoslovakia §s % Denmark 6 '42.... 142 Fiat 7s'46 war. French 7s ‘49 110% French 7 5% Trish Free St 94'3 Ttaly 7s°51... 1041, 997 40 96" 1 104 .. 103% . 103% . 144N . 107% -3t 0 100%2 997 100 25 291, 1% 105 4 ChiB&Qref5s'T1. STAR. Utah Power & Light 5= Utilitles P & L 54" Walworth 6s 435 Walworth 613835, . Western Unfon Tel 614s. Wilson & Co 1st 654 Youngstown Steel §s RAILROAD. 101% 100ie 100 99% Atch T& S F gen 4505, .. ro & 5 Aten.T Atlantic C L 15t 4s B& O gold 4518, 9 9 B&Oev4lys 3l 5 B & O ref 5595 1017 100! & Ralto & Ohi 104 1024 104 B&O Pt LB 9% 9lm 91% B&OS W Divis 101% 100's 100°% + Bangor & Aroos 4s &5 K5 85 Boston & Maine 5= 9 Eroadwy & 1'% Brooklyn Canadian Natl 413530 apeake Corp 53 47, Ches & Ohio cv 4155 '30. .. Ches & Ohio gen 4148 '42 Ches & Ohio 413593 A. ChiB&Q4%sB'77. & Chi & East 111 gen 68 '51. Chi Great West 4 5 ChiMStP &P Chi M St P & P adj 5s. WASHINGTON 93% — ® | wigh. Low. 54 T -2l MARCH 24, ~—1929— Steck and divide 38 Superior Steel.. weets Co of Am (1). mington ymington ¢ 3 elautograph (13..... Tennessee Copper (1). Texas Corp (3) T Texas Corpn part paid. . Texas Corp full paid. Texas Guif Sulphur (4). Texas & Pacific (3).... C&O (b21g). and Trust 4 Thatcher Mfg..... Thatcher Mfg pf (3.60) The Fair (2.40). The Fair pf (7). Third Avenue. . Thompson J R ( 5 Tidewater Asso Oil..... Tidewater Asso pf (6).. Tidewater Oil (80c)..... 4 Tidewater Ol pf (5). Timken Roller B (3)... Tabacco Products(1.40). 4 Tobacco Prod (A) new. . Transcontinental Oil. . .. Transue & Williams (1). i Trico Products (213) 3' Truax Traer Coal 1.60. Truscon Steel ($1.20).... Twin City Rapid Tr (4). Underwa-Elliott-F (4).. Union Bag & Paper..... 42 Union Carbide (§) Hich. Low. 54 FINANCIAL. 9 1929—-PART 2 | Money to Loan oS S Sy o o ot . Wash. L. & Trust | Preva | Joseph I. Weller 11} Mortgage Loans Prompt considera- tion given all ap- plications for con- struction and re- financing loans. Always low rate of interest and commission. B. F. Saul Co. M. 2100 925 15th St. (Continued from Eighth Page.) ~——1929— High, Low. 25 23 81% Stock and divides Net Close. Chge. 5 Va Iron Coal & Cok: 53% 64 | 19 6@ 14% 20 184 - 64l 46 3 16 67 2 % 834 834 23% x23% x105 35% 67T 94 82'3 22' 100% 234 43' Wabash pf A (3) Wabash B €5).... i Waldorf System (113) Walgreen pf (6%3) Walwotth Co (1.20). Ward Baking (A). Ward Baking B. Ward Baking pf (7). Warner Bros Pictures Warner Bros pf (2.20). . Warner Quinlan (2) Warren Brothers (5) Warren Fdy & Pip 4 Weber & Hellbronr(j4). . » Webster-Eisenlohr. ... . Wells-Fargo Express. Wesson Oil & Snow (2).. Wesson Oil & Sn pf (4) .. 4 Wesson Oil pf (7). West Penn Elec A Wast Penn Elec pt (6).. West Penn Elec pf (7). . West Penn Power pf(8). West Penn Power pf(7). Western Dairy A (4). Western Dairy B. . Western Maryland « Western Md 2d pf. 33t Western Pacific. .. Western Pacific pf. 5 144 197 1817 1081 17 56 33 4874 W 1 Weatern Union Tel (8).. Westinghouse Air B (2). Westinghouse E&M(4) .. Westinghouse 1st pf(4) . 45% 137% 148% 149% +1+ 144 144 99% Japanese 61} E 4 73 Chi& N W 6145 '36. . 33% 981y Kreuger&Toll &N W 6135 3 Miah oto st T & Dac ref 45734 Nathe e Chi RT& Pac 4%s w.i. Chi Union Station 4138 Chi Union Station 6138 Chi & Western Ind con CCC&StL3sD.. CCC&StLref6rA rminal 5% Sou ref 4138 Union Oil of Cal (2).. Union Pacific (10). Union Pacific pf (4) Union Tank Car (5)... United Blscuit (1.60) United Biscuit pf (7). United Cigar Stores (1). United Ciz Stores pt (6) United Elee Coal (3). United Fruit (c4). ‘nited Paperboard . TS Cast Iron Pipe ( CIrPistpf (1 Distributing. 'S Distributing pf S Expr TS Hoffman (4) TS 1Ind Aleohol (6) 7S Ind Alcohol pf (7). S Leather....... S Leather A (4) Teather pr pf (7) TS Realty & Imp (4) Weston El Instrument. . WestonElecinstClA(2). White Eagle (2).. White Motors (1). White Rock Min S (3) White Sewing Machine. . White Sewing M pf (4).. 2 Wilcox Oll & Gas. Wilcox & Rich (A) 2%.. Wilcox & Rich (B). . Willys-Overland (c1.20). ys-Overland pf (7). Ison & Co. .. Wilson & Co (A) Wilson & Co pf Woolworth F W Worthington Pump. .... Worthington Pump (A). Worthington Pump (B). Wright Aero (2 . 276 Wrigley W Jr (13%). Yale & Towne (4). Yellow Truck & Coac! Yellow Tr & Coach pt. .. 534 Young Spr&Wire(1234). 65 5 Youngston Sheet & T (5) 125 RIGHTS—EXPIRE. Am & For Pow, Apr 11.. 2% Am Steel Fdry, April 15. % Anaconda Copr, June 18 1 red at 975%. FEie Firemen's Insur- ance Co. came out at 40'x and 35 shares of Mergenthal- er sold at 107';. National Union Fire Insurance Co. changed hands at 26%. After call. Washington Gas sold at 1143, Federal-American ' Co. common at 54 and the preferred at 103'5. A small sale in Riggs National Bank stock was recorded at 57512, 16 shares of Union Trust came out at 353 and 13 shares of Federal-American Bank ®old at 343. Bonds sold at levels main- | tained during the week. There were | 104% 102's Rhinelbes........ also very few changes in the unlisted | 93'< 87! Rhine Westphalia 6852 securities. | 107 105 Rio de Janeiro 8s'46 9N ‘e C. & P. Telephone Net Gains. 108 105 Sao Paulo State of 85 '36. Net income of the Chesapeake & | 108's 1044 Seine Deptof7s....... Potomac Telephone Co. for the month | 96 91k Serbs Croats Sloy 8562 of February totaled $136.757, against | 103% 101% Sweden 63°39 $123,693 in Pebruary, 1928, although | 104’ 100% Swiss 538 '4G. ... it was not as high as the longer month | 99% 98'% Toho Elec Pwr Ts'35.. of January, when it reached over $145,- [ 104’ 103 Ttd Kingdom 5%s '37 000, according to the report filed with | 96% 4 Yokohama 6s'61..... the Public Utilities Commission. Capital MISCELLANEOUS. expenditures for outside plant facilities | 120 11114 Abram & Straus51%=s'43.. 113% and central office equipment added to | 11013 101% Alleghany Cocv 5s'44... 103 the system during the first two months | FEFSF Orrin C. Lester. L ¥ 100% 116% 91 | 103% Graham-Paige? b Wilys-Overlend? Send for sample copy. free. Write name and address om margin and send to— AMERICAN SECURITIES SERVICE 266 Northern.Lilly Blds.. New York (RS EN ] ) 22 1001 Varis-Lyons-Med 6s 487y Peru 6560, .. Peru 7 Pirelli Co of Ita 9 % Poland § 10 Queensland 65" 113 10813 Queensland 7s'41. 85 103 100 1541 119 99 101% 1345 a7y, 1031 1101 103 Q015 106 9015 106 It IR LEL YD 2 Cuba North 5 Del & Hudson 3'33 '3 Den & Rio Grande cf 315 Den & R G Wes Detroit United e 1st con 43 Over Third of @ Century's Ezperience A AN SN AN Fonda J & G 41485 Grand Trunk s f deb Grand Trunk 7s '40 Great North 415576 Great North gen 5148 '3, Great North gen Havana Elec Ry 215, Hudson & Man ad. Hud & Man ref 5 '5 L1+1+ Smelt Ref&M (314 Smelt R&MPL(314). Steel (7).. U S Steel pt (7). i 1S Tobaceo (3).. 1S Tobacco pf (7). +1 106t2 104% Am Agri Chem 7158’4 of the year amounted to $407,427. Re- tirements for this period were $255745, making net additions for the two months $151,682. ‘Telephone operating revenues for 89% 86 Am Beet Sugar 6s°35.... 111 103% Am International 514s'49 102 100 Am Sm & Ref 1st 5= '47. 1047 100 Am Sugar Ref 6s'37 99% 99% Am Tel & Tel cl tr 4s'29 Pebruary were $678,495. Operating ex- penses were $466,286, making net operating revenues for the month of February $212.209, which was a de- crease of $10,763 under the net revenues of January. At the close of business February 28, there were 152,381 telephones connected with the central offices serving the Dis- 268 102 927% 9214 102'3 100 105% 1031 Bell Tel (Pa) ref 5s'48. 105% 102'% Am Tel& Telsfh 8512 105% 103% Anaconda Cop 6s 5. 187 81 Am Writ Pap 6s'47. Anaconda cv deb 7s '38 90 Armour & Co 4138°39. 90 Atlantic Ref deb 5537 9915 Beth Steel p m 55 ‘36 Armour of Del 535 '43.. " Illinois Central 4%s '68. . Inter Rapid Tran 5s ‘66 Inter Rapid Tran cv 7 Lake Shore 45’31 : Louis & Nash uni 4s'40.. Mil El Ry & Lt 1st ref §s. 4 Minn & St L ref 4549 M3tP&SSM6EH%s 31 Mo Kan & Tex 1st 459 trict of Columbia, an increase of 2,021 telephones since January 1. In Febru- ary, Washington telephone users made 16,877,120 Jocal and 434,628 out-of- town toll calls. This was an increase of 9.4 per cent in the local calls and 10.1 per cent in the toll calls made in the same month last year. The financial statement gives the fol- lowing comparison between February of the present year and Pebruary 1928: Total operating revenues. siinim s6Tbans s Total operating _expen: and uncolleetible .. 444,300 466,208 $212,200 50, s161.303 Net operatin Taxes assigna ns atio; 51,825 Operating income .. $146.645 Mon-operating income . 051 696 3.239 $146.457 22,764 Gross income . Rents and misceilaneor deductions ... 4.180 3162,399 25:642 136,757 Wnterest deductions 123,603 “Pile Up Savings,” Lester Urges. ‘The American public spent more money Jast year on cosmetics than the total net gain of all savings banks, Orrin C. Lester, vice president of the Bowery Savings Bank, said at the re- gional savings conference in New York, in showing how mercantile agencies have succeeded in drumming up their business. Mr. Lster, who lived in ‘Washington for some years while em- ployed in the Treasury, contended that savings barks should make an equally successful human appeal in inducing the public to increase savings accounts. Analyzing a block of 5,000 accounts in his own bank, he said, revealed that 15 per cent were classifiable under investment accounts, 10 per cent under spending accounts, 13 per cent under futile accounts and 21 per cent under special accounts. “I do not depreciate the importance of savings bank accounts,” for other purposes, Mr. Lester went on. “In Jact, I am confident that they are very desirable and essential, but the time has come when we should distinguish the savings account from all other forms of account, interpret it for what it is intended to be—an instrument for permanent saving—and make it function successfully in that capacity. “Somehow, I can't get away from what to me is an impressive convic- tion. That is, that the savings account should be made the greatest single in- fluence for the achievement of the permanent economic success of men, and the brief agency through which men strive for and attain the degree of economic independence which their stations in life may justify.” Would Teach Money Management. Harvey A. Blodgett, who spoke on “Guidposts to Independence,” sug- gested that banks popularize thrift through co-operative advertising in such a way as to promote the savings idea by encouraging saving for spon- taneous desires. He pictured the pos- sible returns from a series of educa- tional and inspirational advertisements appearing in the New York newspapers for a year. He suggested that the cam- paign be designed to show people how to become accomplished savers, how to use their savings profitably and how to conserve their accumulations. “These features should be, in essence, guideposts to independence, *Thus, a full course in the fundamentals of money management, accumulation and investment might reach practically every home in the metropolitan zone. The newspaper, the people’s university, is the greatest educational medium in the world. It molds public opinion and establishes habit Almost evrybody goes to school daily for a few minutes in the newepapers gnd the education available is most complete.” . Local Bank Clearings Higher. Washington bank clearings for the week ended March 21 totaled $32,667 000, against $20,686,000 in the previous week, and &an increase of 15.6 per cent compared with the corresponding week & year ago. Baltimore clearings reached $99,530, 000, against $04,992,000 in the previous ‘week, but below the figures of the same week last year. Richmond clearings were also below last year, although they reached $45,005,000. against the lower figures of $40,736,000 in the preceding week Atlanta clearings were ahead of both the previous week and the same period last year. Norfolk was ahead of the previous week, but not up to the figures of the same week in 1928. Bank clearings in the country as a whole for the week ended March 21 aggregated 5.150,954,000, as against $12.911,994,000 last week and $13,27 586,000 a year ago. gain over the previous week and the corresponding week in 1928, Bankers' Bulletin Apepars. Net income .... ‘This was & good | 105% 104 Beth Steelsf 6. 9612 9314 Chile Copper 5547 11913 105 Colon O116s°38..... 105% 105 Comm Invest 53¢’ 98% 94 Comm Invest deb 65’48, 73% 65% Con Coal (Md) 1st ref 5s. 80 70 - Cuba Cane Sug cv deb 8s. 108% 105% Detroit Edison ref 104's 99% Dodge 6s°40. 95% 81 Fast CubaSug?7 1083 101'% Gen Motors 6s'37 108% 107 Goodrich (B F) 6% 102'% 100's Humble Oil & R 5348°32.. 106 101'¢ Indlana Steel 55’52 118% 106% Inter Cement 55 '48 98% 94, Inter Match 5s'47. 102 9914 Inter Mer Marine 65°41.. 96 94 Inter Paper 5s A4 120 109% Inter Tel&T cv 4%s 102% 99 Lackawanna Steel 5s 105% 102! Laclede Gas 5%s 5 99 Lizgett & Myers 5s’51. .. 112% Loew's Inc 65’41 war.... 85 Lorillard 5%8'37........ 94 Manati Sugarsf7%s’42. 1004 97% Midvale Steel 55 '36. - 97% 93 Nat Dairy Prod 5%s '48.. 107 104% New England Tel 5352, . 115% 113 N Y Edison 1st 6%s 41, 101 98% N Y Tel415s°39. 4 107% 105% N Y Tel 6s’41. .. 101% 98% Northern States 102% 99 Pacific Gas & Elec 5s'42 105% 102 Pacific Tel & Tel 55°52 106% 1024 Pan-American 65’34 100% 99 Paramt-Fam-Lasky 6s'47 100 97 Philadelphia Co 5s’67. ... 95 89% Postai Tel & Cable 55 '33. 207% 180 Pubiic Service 4145°48 98% Sinclair Oil 6530 103'% 101% Sinclair O11 7s'37. . 9712 95 Sinclair Crude Oil 5%s 103% 101% Stand Oil N J 5s. 98 95% Stand Ol N Y 43s'51. 104% 97% Transcon Oil 6125 '38. 97% 94% United Drug 5s '53..... 92% 89 U S Rubber 1st & ref 5s.. 102% 100% U S Rubber 7138 '30. 109% 107 U S Steel s f 55'63. 108 108 ssau El N Y Cent & NY NY NY X xr Y Cent d b NH& N North Pac! North Paci! orth Pacl! % North Pacil Penn gen 4 4 Penn 435" Perin gen 5: S8t Louis, 1 StLIM& StL&SF StL&SF St Louis 8 StPKCS South Pacl South Pacl Third Ave 104% 103% 104% 82 100 88% Virginia R; 101% Wabash 1s 101% T8% 951 81% Cent ref imp 5% 2013. Chi&StLref5%s A Chi& St Lref 538 B Ry 68 '65. N Y West & Bos ¢ Norfolk & W en 45’96 Ore Short Liref 45°29.... Ore Wash 1st ref 4s 1961 Penn 6% Reading 4128°97... RIArk &L 4348'34 Seaboard A I ref 4s Seaboard A L adj 5s Seaboard A L con 6 Southern Ry gen 4s '56 Southern Ry 1st 58 9. Southern Ry dev 6, Unton Pacific 1st 45’47 Unfon Pacific 4s'68. Wabash 5138 " Western Maryland 4s'52. Western Pacific 58 '46.... ‘West Shore 1st 45 2361... 48°51 eb 48 eb 68 '35 Hevdeb 6s. PR fic 59 2047..... fic 48 '97 fic 53 D 20 fic ri6s2047.. s 28 %386 63 s 36 Ll 1 M&S 45’29 SR&G4'33. prindsA’S0.. 4348°78. : W con 4332 Line 4% LEhbba+++11 fic cv 4s fic ref 48 '55 adj 55 '60. 93% 86% 103 102 102% 80% 9% 85% y 1st 53 t5s°39... AL HEE | 22 sesx" & s ss#ssssss’ s ¥ vention plans under C. H. Pope, notes action by the council of administration appointing President Robert V. Fleming and Vice President Wilmer J. Waller as delegates to the annual meeting of the Chamber of Commerce of the United States Abril 30 to May 3 and fakes other announcements. ‘The bulletin contains a report on subscriptions to the Community Chest showing that 31 Washington banks contributed $43,859,41. Eleven banks | reported contributions from 714 em- | ployes totaling $7,221.50, or an average of $10.10 for each employe. t B. & 0. Showing Held Favorable. ‘While Baltimore & Ohio Railroad’s operations in 1928 set no new record in either gross revenues or net operating income, net income after charges at $29,100,931, up $6,467,586 from 1927, was the largest in the company’s his ry. It topped the previous best rec- ord of $27,609,759 made in 1926 by $1.- 491,172. That common share earnings of 81243 last year did not equal the $16.62 of 1926 was due to the $63,142,- sgg_llddmonll common stock issued in 1927. In four earlier years, namely 1927, 1926, 1925 and 1923, B. &. O. earned more gross than in 1928, but operating STOCKS DEPRESSED IN'SHARP SELLING Market Forced Down as!: Traders Take Profits in Many Issues. By the Associated Press. NEW YORK, March 23.—Heavy liqui- dation developed in today's stock mar- ket, carrying scores of issues down 2 to 7 points in reflection of the uneasi- ness created by the announcement that the Federal Reserve Board was meet- ing again in Washington, Fears that | the board would take further action to restrict the volume of speculative credit led to an abandonment of pool net was larger only in 1926, and with more than 10 per cent ahead of the, next bést year, 1927. United Cigar Stores Net. ‘The United Cigar Stores of America and subsidiaries report for 1928 net in- come of $8,352762, after charges, com- pared with $7,744,471 in 1927, BONDS SHOW GAINS. Selling Confined to Small Group ! of Speculative Issues. NEW YORK, March 23 (#).—The displayed an improved tone, with trad- ing on a fairly broad scale. Selling was | confined to a handful of speculative | issues, most of which have advanced uring the week contrary to the general downward trend on the market. Anaconda Copper 7Ts slipped back 4 | points under realizing and Atchison convertible 415s were traded in around 113, yesterday’s lowest level, but Atchi- son sinking fund 5s improved. Other railroad and New York traction issues were steady and some marked up gains of a point. Hudson & Manhattan re- funding 5s, Southern Pacific refunding 4s and West Shore 4s were strong. In_ the industrials, International Mateh 5s sold off nearly 2 points, but Kendall 55 moved up a point. United States Rubber 5s dispiayed strength in anticipation of increased business this ear. |7 Utilities were inactive, Public Service | of New Jersey 4ls selling off more than a point on light trading. Tha foreign list was firm, Argentine The Monthly Bulletin of the District Pankers' Association appeared yest + day. It announcts real progress on can- | 65 improving, Belgium 6s and Rhine Westphalia were strong on good suppozt. 4 | selling, which bond market for a week end session | activity and the lightening of many that exception it was 84,569,520, or |speculative accounts by small traders.; Stop loss orders, which had been | {placed just below the market by ner- ivoue traders during the past week, were | touched off in large volume by short! !spite the fact that the demand for | stocks in the *“loan crowd” recently, ! has been of large proportions. I | Motors were liquidated rather freely | on reports that many dealers were over- stocked with cars, and that there had {been a lessening demand for steel from | utomotive manufacturers in the | Youngstown district. Selling of the | |coppers was inspired by unconfirmed | 'reports that the Newmont Co. had| liquidated a large block of its Kenne- | 1‘:0" holdings. I | International Telephone fell back ' inearly 7 points, Abraham & Straus, 515; Curtis Aeronautic, 5, and Russia Insurance, Vanadium Steel, Anaconda | Copper and General Electric lost 4 ints or more. dio, National Cash egister, Goodyfar Rubber, Greene Cenanea Copper, Canadian Pacific, Shattuck, General Railway Signal and Wright Aeronautical slipped 3 to 4 points, and the long list of 2-point de- clines included U. S. Steel ! Kennecott, National Lead, Westing- house_Electric, Allis Chalmers, Ameri- can Express du Pont, International Combustion, Montgomery Ward and Calumet and Arizona. U. . Steel com- | mon sold 8 points below the high price | established Tuesday. | The closing was weak. i —_— - - | Commercial Failures Decline. | NEW YORK, March 23 (®.—The' commercial failure record, as compiled Iby R. G. Dun & Co., showed further | improvement this week De(lul':-\l I totaled 433, a decrease of 22 under last week, 52 under the total two weeks ago jand 30 under that of the corresponding 1928 weels phone clerk, George J. Dolan, connected with the New York brokerage house of Maxwell & Co., has applied for mem- bership in the New York Stock Ex- chang ot t. rights. more aggressive, de- | = Construction Loan Clark Buys Exchange Seat. NEW YORK, March 23 ().—A tele- after arranging to purchase four entitling him to a seat. An- her applicant is Willlamy H. Bixby, . Louls, who has purchased four LEHMAN'S TIRE SHOP 12th & K N.W. Jai» o Main 14; COLLEGE WOMAN DESIRES POSITION Executive or Assistant —experienced in_promotion and direction of organizations: exten- sive acquaintance; high standing. Box 51-K, Star Office Loans to Salaried People “Character Plus Earning Ability Our Basis of Credit” REASONABLE = RATES EASY PAYMENTS WASHINGTON WIMSETT GCOMPANY : “ 903 N. Y. Ave., 2nd Floor. First Mortgage and Applications Invited at 5Y2% Glover & Flather 1508 H St. N.W. Main 1753 Universal Leat Tob (3) niv Leaf Tob pf (8).... Univ Pictures 18t pf (8). Univ Pipe & Rad Utah Copper (16)..... Util Pow & Lt A (e2).... Vadasco Sales. ... Vadasco Sales pf (7). Vanadium Steel (14 Van Raalte. . Vick Chemical (4)...... Victor Talking Ma (4).. Victor Talkg M cfs (4).. Victor Tik Mch pr pf(7). 4 Virginia-Caro Chem. ... Va-Caro Chem 8% pf. .. Va-Caro Chem pf (7). 3% 1231 123% 88 881 17% 174 Anchor f+¥Lt 801 General Celotex Co, April 1 Fisk Rubber, April 5.... 3 35 1 Cap, Mar 25. L —the profitable manage- 1 Mills, April FIEEF FF ment of Apartment Houses. We have had the long and varied experience that makes us expert—first in then in ke d at the same time taining the standard Gen Refractories, Apr 1. Gult States Steel, Apr 1. Tndian Refning, April 5. 2% Indian Ref ctfs, April5. . % Kreuger & Toll, April 13 4 Phila Readg C&T, Apr 5. « Public Service, Mar30.. 1 LY 14 Webstr Eisenlor, Apr5.. 16 14 Dividend rates as given in the above table are 345 345 42 2% 10% P4+ 00000 % Ya - % M - the annusl cash rly declaratios I++++1 110 payments based 05 *Untf TR t Plus 3 yab) o stock. K P tas 1725 of a share in st the latest quarterly or ing, hares. 1 Tate. le when earned. & Plus 6% in stock. " of the property. B. E.-SAVL: €O Main 2100. 925 15th St. N.W. less than 100 32 1p preferred PUIERALY e ol 3 le in stock. ¢ Plus 5% 3 ible in cash or stock. 51'"‘2 itock. § Pl % us 3% in stock. m Plus 3Pl stoc! s share in stock. o8, Share in s n CURB SHARES DECLINE. | U. 8. Reserve Board Meeting Causes Fears Among Traders. NEW YORK, March 23 (#)—The PFederal Reserve Board meeting in Washington today provided the impetus for a broad selling drive on Curb Market stocks. The market opened firm but selling soon broke out and losses ranged from 1 to 34 points. No section of the list escaped the selling wave. Ford of Canada tobog- ganed 34 points to 946, and Ford of England dropped more than a point. Bohn Aluminum was down 5 points and ‘Trans Lux, which recently scaled a record peak, lost 2 points. Goldman Sachs’ early gains of 2 points was co:wtened into a loss of more than a point. \ High price for copper failed to stem the decline in the mining group. New- mont was down more than 4 points but Phelps Dodse displayed independent strength and held slightly above yes- terday’'s closing levels. Olls were under pressure, but most of | the losses were fractional. Standard of Indiana and Continental, which is wild- ::t‘nng a new field in California, were vy. Aviation shares joined the downward movement, Aviation Corporation of the Americas slumping 5 points. In the utilitles, declines were marked up by Electric Bond & Share and United Light & Power “A Italy has banned the exhibition of war_films. > In Nearby Virginia 51/2% ln.:r&:“(l:o. Commonwealth Investment Co. 917 15th St. N.W, “Conveniently Located on 14th § 1529 14th St. NW. Dec. 3320 The Commercial National Bank Pays interest on DAILY BAL- ANCES on Savings Accounts. Interest starts from DAY of deposit and is earned to DAY of withdrawal, Come in and let us explain. Resources Over $19,000,000 14th & G Streets R. GOLDEN DONALDSON, President COTTON CLOSES STEADY. NEW YORK, March 23 (#)—A mod- erate demand, promoted by rain re- ports from the Eastern belt and rela- tively firm_Liverpool cables, was sup- plied by continued liquidation or real- izing in cotton today. Selling probably was influenced by prospects of improv- ing weather over the week end and the action of the stock and grain markets. May contracts sold off from 20.85 to 20.72 and closed at 20.80. The general market closed barely steady at net de- clines of 1 to 5 points. Fulures closed steady 1 to 5 points lower; May, 20.80a20.82; July, 20.28a 20.29; October, 21.0{ J;nunry; 20.17, 1.05. SILVER QUOTATIONS. NEW YORK, March 23 (#).—Bar ilver, 56%3 4 The Trade Mark Guaranteeing Satisfaction STEEL OFFICE EQUIPMENT Strength, Utility, Safety.and good appearance in the extreme. The Berloy Filing Cases appeal with direct force to the man who takes pride in his office. They are finished in various colors. Thére is no end to their service. STOCKETT- FISKE PRODUCING STATIONERS PIDE ST- N W WASHINGTON'D-C National 9176-7 CLARK,CHILDS & COMPANY 120 Broadway New York, N. Y. WASHINGTON OFFICE 1508 H STREET NORTHWEST NEW YORK STOCK EXCHANGE NEW YORK COTTON EXCHANGE NEW YORK COFFEE EXCHANGE NEW YORK CURB MARKET NEW YORK PRODUCE EXCHANGE BOSTON STOCK EXCHANGE CHICAGO BOARD OP TRADE CHICAGO STOCK EXCHANGE Telephone Metropolitan g%g? JAMES SLOAN, Jr., Manager WILL SELL 100 F. H. Smith 7%2% Pfd. @....... 85 250 Real Estate Mortgage and City Units@-: . .. ... .covvrvoniis. 88 $25,000 Jefferson Apartment 1st 6s, BN .. ... THOMAS L. HUME 1412 G Street Main 1346, 4733 WANTED TWO REAL SALESMEN For permanent positions By one of the largest Securities Houses in the Country., Offering only listed, seasoned and nationally advertised ‘Stocks and Bonds in some of the largest and best known Companies in America. With combined assets of nearly one billion dollar: To sell interest us. placement. investors for income. Speculative selling does not Commissions proportionately -liberal for conservative If you are a SALESMAN., then experience in this business is not essential. An unblemished past record of integrity, ability and honest will to succeed, through a fair and square day’s work, each day, are essential to your consideration. A letter giving complete det: of your past record, age, edu- cation, and why you apply for this position, will result in an interyiew through our local offices. Address Box 135-K, Star Office INVESTMENT GUIDE A for the latest edic tion of our Investment Guide, which has been read each year by thousands of investors all over the United States and abroad. The new illustrated edition of “56 Years of Invest- ment Service,” describes how funds may be invm?d in sound 6'2% First Mortgage Bonds, as well as in other types of securities earning in many instances higher returns. Return the coupon below for information about the sound income-producing city buildings and for '“l-nm .'v': mnl’:v.:‘ of 'mur latest offerings. - TeE F. H.SMITH CO. Investment Securities— Founded 1873 Smith Building Washington, D. C. (815 - 15th Street, N.W.—Main 6460) Brench Ofices in— New York — and Other Cities NAME ...cooceoccciectrnsesecscncsannes s S S ADDRESS ......... OCCUPATION .........cceen. shonson s 363