Evening Star Newspaper, May 24, 1929, Page 14

A 14 % FINANCIAL. LANONTREPORT CREAT TRADECAN Commercial and Industrial Activity Larger Than Ever at This Season. BY EDWARD C. STONE. Secretary of Commerce Lamont an- nounces that the first four months of the present year have witnessed greater commercial and industrial activity than has ever been reg- istered in the United States in a similar period. “Practically _all the records of pro- duction, trade and finance thus far made public,” he raid, “agree in showing decided in- creases over the same first four months of 1928, and most of them reached record to- tals. “The outpyt of steel ingots. which reflects demand for Frank White. materials in many industries, aggregated for the four months almost 19,000,000 tons, & gain of 12 per cent over the corresponding period of 1928, and a record figure for all time. “Automobile production, which fur- nishes a valuable indicator of the ge eral buying power of the community, as more than 50 per cent greater than during the first four months of last | vear, over 2,000,000 cars and trucks be- | ing turned out. “A still broader measure in the ex- pansion of industry is furnished by the fact that the number of employes in factories was 5 per cent greater during the first four months of 1929 than in the same period of the year before, while the increase in the amount of nay rolls, by reason of more continuous employment, and perhaps also of higher wage rates, was much greater still, mounting to 9 per cent. " The only important field in_which decline in activity has thus far been reported is that of residential construc- tion, by reason of which the total value of new building contracts of all classes was 11 per cent less than last year. “On the other hand, new contracts for commercial and industrial buildings and for public works and_utilities were considerably larger than last year. ‘White Heads New Corporation. Frank White, formerly treasurer of the United States, who recently re- signed that post after seven years of service, to enter business, has been elected president of the National Assets Corporation of Delaware, an investing company of the general management type, which will devote particular at- tention to the stocks of banks and of trust, insurance, title and surety com- ranies. The authorized capitalization of the corporation will consist of 500,000 shares of 7 per cent cumulative preferred stock of $25 par value and 1000,000 shares of no par value common stock. The corporation is empowered to purchase, sell, hold and trade in stocks and se- curities of any kind, either foreign or domestic; to participate in underwrit- ings and syndicates, and to engage in such other investment activities as its board of directors may determine. Mr. White has a host of friends in ‘Washi: n, who will be interested to know of his latest move in the business world. Maryland Leads in New Insurance. Sales of ordinary life insurance dur- ing April show a 12 per cent increase over the same month of last year. Sev- enty-one per cent of the reporting com- show increased sales in this month and all secluom ‘o( the co‘untry report gains of at least 4 per cent over April, 1928. For the first four months of 1929 the volume of ordinary life insurance sold in the United States was 9 per cent greater than sales in the same period in 1928. Every section also gained during this period. The 12-mgnth period ending April 30, 1929, shows that the country has pur- chased 7 per cent more insurance in the past year than in the preceding 12- month period. These figures are issued by. the Life Insurance Sales Research Bureau and are made possible through the co-operation of companies having in force 88 per cent of the total ordi- nary life insurance outstanding in the United States. The South Atlantic section gained 4 per cent in April over April, 1928. For the first four months of 1929 these States gained 2 per cent. Maryland shows the largest gain in this section for both the month and the year to date. For the 12-month pertiod just ended this section fell slightly below the volume sold in the preceding 12- month period. The East South Central States gained 4 per cent in April over April last year. All but Alabama share this monthly increase. During the first four months of 1929 this section increased its production over 1 per cent over the same period in 1928. For the 12-month period just ended the section increased 2 per cent over the preceding 12 months. Compared with April of last year, the District of Columbia reported a gain of 5 per cent, Maryland, 21 per cent; | West Virginia, 15 per ocent; Pennsyl- vania, 13; Kentucky, 7; Tennessee, 6; Georgia, 3; Florida, 3; Virginia, 2; South Carolina, 1; Alabama, 1 per cent loss, and North Carolina, 10 per cent loss. Of all the States, Utah led, with a 54 per cent gain, while Delaware :n.lled all others, with a 21 per cent e. Capital Traction at New Low. Capital Traction featured the Wash- ington Stock Market today by selling at a new low mark for mai many years. During the session it reached 947, but closed at 95. The stock figured only in odd-lot trading in several separate transactions totaling 69 shares. It opened at 95';. There was a good sized turnover in| Mergenthaler Linotype at 10633 and 106,. Eighty shares changed hands during the day. Norfolk & Washington Steamboat registered a 40-share trans- fer at 300, Potomac Electric Power 6 per cent preferred recorded a tiny sale at|] 113 and the 5!5 per cent preferred sold at 106 and 10534, both stocks being ex dividend. Four hundred shares of Real Estate Mortgage & Guaranty preferred moved at 7';. » In the bond department City & Sub- urban 5s sold at 91’5, Potomac Electric Power consolidated 5s at 102 and Wash- ington Gas 6s, series B, were popular at 104. The A gas bonds moved at 102'% ‘The bond market closed with Capital | Traction 5s selling at 971;. Observers of the local market state that some of the recent selling in cer- tain issues has been by investors who wished to protect securities which they are carrying on the New York Stock Exchange. Gleaned in Financial District. M. J. Meehan & Co.. members of the New York Stock Exchange. will open an office tomecrrow in the Washington Hotel. The local manager will be Frank J. Thiel, for 23 years with the Treas- ury Department. to be associated with the Washington office. He is a son of the James A. Cahill, at one time vice president of ths Commercial National Bank. M. A. McAnallen of Washington, who prospecting for natural gas vania for several years, re- = finding of an_ excellent flow of gas in the Speechly fleld in Clarion County in the western part of the State. Mr. McAnallen has been connected with the United States Treasury x’ a long tima. o Am Stores (2)... Am Sumatra(3 AmTel&Tel(rts) Am TypeFo(8).. 143% 146 AmWW&EI (el . AmWWI1st pf(6) 101 1011 101% 101% Am Woolen Am Woolen pf. Am Writ Pa ctfs AmWritP pf(3). Am Zine. .. Anaconda (7). Anaconda (rts).. Anacond W&C 3.. Anehor Cap 2.40. Andes Copr (3).. Al Autostrap A(3). Baldwin Loe (7). 230 Bald Loco pf(7). 118 Balto & O(8).... 11 Balto & O pf(4). Bambgr pf(6%). Bang & At pf(7) Barnet Leatber.. Barnsdall A (3). Bayuk Cgrs (2).. Bayuk 1st pf(7). Beacon su‘eh-xnl Beth Steel pf(7) BohnAl&Br t3% Bon Ami (15 Booth Fisheries. Borden Co (3)... Borg-Warnr(J4) Briggs MIgFCo. gnynvnou(s). 174% Robert F. Cahill is| | Note—The New York Stock Exchange is now operating on Eastern daylight- saving time. - Open. Hish. Low. Close. 39 394 39 394 804 804 804 80% 1081 10 9 108% 1084 109% 109% 109% 109% Asdams Exp(6).. 542 542 542 542 dams Ex pf(5). 90 920 884 88%% Adams Millis(2) 31% 324 31% 324 Adv Rumley.... 5 55's 49% Bl Adv Rumley pf.. 60 65% 60 62 Ahumada Lead.. 24 2% 24 24 Afr Redetn (13), 1247 125 123 12314 Alr Way El1(2).. 43 43 414 414 Ajax Rubber. 6% 6% 6% 64 Alaska Juneau.. 5% 5l 54 5l Albany Wrap Pa 16 164 16« 16% Alleghany Corp. 33% 33% 32l 32W Alleghny pf 5%. 100% 100% 100% 100% Alleg pf rets 5% 100% 1005 100% 100% Aliled Chem. ... 285% 285% 281 251 Allls-Chalm(7). 187t 190 187l 188 Amal Leather... 64 6% 64 6% Amal Leather pf 61 61% 61 61 Amerada(2)..... 28 28 24% Am Agricul Chm 12% 12% 12 Am AgriChpf.. d4dh 44y 43% 43% Am Bank N(13). 116 116 116 116 Am Bk N pf(3).. 60 60% 6015 60% Am Beet Sug pf. 50 50 50 50 AmBShoe pf(7). 122% 122% 122% 122% Am Bosch...... 59 59% 57 57 Am Brown Bov.. 29% 20% 27% Am BrownBopt 92 92 42 ADItIDI Power. Abitibi pf (6 Abrahmé&Stra: Ab&Straus pf 7. 141 95 54 507 o161 14 141 AmCar&Fdy(6). 5% 96 95 Am Chiele (2)... 54l 54% 54 Am ComAl e1.60. 507 52 50 Am Express (6). 323 324 82 Am & For Pow.. 105 106% 100'% Am&FoPo pf(6). 98 98 98 9 Am&ForP pf(7) 106% 106% 106% 106' Am&For Pow 2d. 91 91 90% 90% Am Hawa SS(1). 39 391 38% 3R% Am Home P 3.60. 744 74's 73's Amlce (13).,... 41% 4012 Am Ice pf(6).... 90 20 Am Internatl $2. 62% 61'%% Am LaFr&Foam 5% 5% H% Am Locomot(8). 115% 115% 115 Am Ma & Fy(4). 156 156 156 Am Metals(3).. 54% b54% 524 Am NatGaspf?7 73's 734 73ls 6 6 6 « 110% 110% 107 107 AmP&LtA(3). 74 744 74 TN AmPo&Lt pt(6)) 100% 100% 100% 100% AmRa&StdS215. 42' 44% 425 424 AmRa&San(rts) 1% 2 FLREY Am Republies... 51 b1 485 49 Am Roll M (c2). 115% 115% 113'3 113'% Am Saf Raz(1p). 64 66% 64 66% Am Seating(3).. 35 35 35 Am Ship & Com. 3% 3% Am Sm&Ref(4). 100 100% AmS&Rpf(7). 135 135 135 Am Stl Fdys(3). 624 6215 61% Am StIFy pf(7). 111 111 111 % 72% 7L 7981 ‘19 40% 40% 40 2815 2814 2815 281y 210% 211% 210' 210% 4 4 3 4 Am Tobac B(8).. 169 169 169 169 143% 145%° 40ty 90 611x 115 156 524 7313 6 135 61% 111 1 Am Sugar (5). 81 9214 93% 90 91 19 194 19 19% 461 467 46% 4674 104 104 10 10 39% 39% 39% 39% 30% 81 30 30 105% 1067 102% 102% 204 19t 19% 78% 3% 73% bl% 49 50 49% B0 484 48% 34 341 33 3d% 89 89 B9l 895 2 12% 12 12 6% 5% reher Danls(2) rmour Del pf 7. 6% 5% Arnold Con & Co 20% 21% 20% 21 Art Metal (1%). A 28 50 45% 44 28 28 50 50% 45% 45% Archison(10) 20 Atl Coast L(110) 180 1 Gulf & WI.. tl Refg (11%). tiasPowderi4). tlas Pow pf(6). 101 uburn Auto J4. 246 ustin-Nichols. 5 30% 30% 30 30 40 41 40 41 44% 444 4% 44w 9 25 100% 100% 5% 37 230 230 230 1181 118% 1184% 1184 117 117 9 o2 g 71 6% 17 106% 106% 106% 110 110 110 18% 13% 134 4h 43 3 90 90 90 100% 100% 100% 26% 25 25 % T TT% 83 82% 83 102% 99% 99% | 119 119 119 122% 118% 118% 8614 86 &6 @ gy ey 8815 88 88 129% 124% 1243% 931 9315 934 38 36W 36 49% 48'% 48% 64ta’ 63 63% B4W 844 8i% 174% 173% 173% 39% 39% 394 1170 117% 1174 42% 40% 4l 23% 234 23% 30% 26% 2Th 417 401 405 11415 114% 114% 6015 601 601 48% 4T% 47%] 99% 99 991 100 100 100 305 301 305 584 58% 58Y 105 105 105 5% oW 5% R R 32 31% 32 137% 137% 140 130 127 127 oIl t & Co(3) thlehm St1 Boston & Maine. Brockwy Mot(4) Bklyn-Man(4).. 63 Bklyn-Man pf(6) 844 rownShoe(2%) 39% Brown Shoe pf 7. 117% Brunswick R(3) 411 Brunswick Ter.. 23% Bueyrus(1). 29% Bueyrusev( 40% Bucyrus pf(7).. 114% Buff & Susa. 601 Bullard (1.60) Burns BrosA (8) BurnsBros pf(7) Burroughs (15). Bush Term(g2).. Bush Ter de(7).. Butte Cop & Zino Butte & Sup(2). Butterick Co.... 31% Byer & Co....... 139 By-Prodcts $2%. 129% 105 5% 7 Calf Packg (4). T4 54 T4% Callahan Zine. .. 24 2 Calu & Ariz(10). 130% 1314 129% 129% Cal& Hecla(4).. 41% 41% 404 40% Can Dry (14%). 828 844 82% 83% an Pacific(10). 2251, 226 224 224 Can Pac(rights) = 5 4% 5 CannonMills2.80 39 39 39 CaroClin&0(4). 8 85 85 85 Case Threshg(6) 339 355 331 338% Case Thr pf(7).. 120 120 120 120 Cavanagh-Dobbs 264 26% 264 264 Cav Dobs pf 6%. 95% 954 95% Celotex Co (3)... 654 66 65 Cen Aguirre(2). 38 Cent Alloy:2)... 4% an Century Rib M.. Cerro de Pas (6) Certain-teed Pro 24%a Certain-teed pf.. 57 Uhes & Ohio(10) 210% 2 Ches & Ohlorts. 26%% C & O Corpn(d). 94% Chi & Alton . 3 Ch! & Alton Chi Great West. Col Gt West pt.. Chi M1l & StP.. Chi Mil & StP pt Chi & Nwn (4).. Chicago Pn Tool. 34 ChiR1&P (7).. 121% 122% CRI&P pI(6). 102 102 Chickasha(3) 40% 40% Childs(2.40). 51% 52 Chrysler Mot(3) 75 _78a Cit? Ice (3.60).. 55 ‘55 City Ice pf(6%). 10214 902% City Stores (1).. 224 28% Cluett-Peabib). 60% 60% Coca-cola (4)... 125 125 Coca-Cola (3)... 4T% 48 Coinnas & Alkmn 52% 56% 6l 62 ! & Iron. 110 110 74 5% 2 121 94% 2091 26% 16% 47 30 B0% 49'% 49% 83 831y 344 344 120 120 102 192 40% 40% 50 50 4% 75 5419 baly 10245 102'3 224 23 60s 60% 1244 1240 47% 48 52 55 62 110 74 16% 47 3 110 74 €8 68 5% T6% 1071 1070y 0% TIu 149 149 46 46 7 971, | Col & Southn(3) 1 Sou 18ti4). 4 | Col Sou 2d prcé 68 | Col Gas (2). 194 0! GEE nfA« 108 108 Col Graph (35¢) T6% T8 | Col Carbon t4% . 1561% 152 Com Credit (2).. 47 474 | com Ciistpf 6% 974 97 Com Inv Tr(34). 137 142% 137 Com Inv (wa. 39% 40 39 39 CominTrpté 95 96 95 96 P en: ey =3 6% 1% . 135% 1864 131% 131% | THE ‘FIVE.\'T;\'G STAR, WASHINGTON. D. ©. FRIDAY. MAY 24 1929. Com Solv (h8).. Com Power (14) Congoleum-Nair Cong Cgrs (6).. Censol Cgras (7). ConCigprpf(6%) Con Cgrs pf(7).. Cons Film pf(2) Cemsol Gas (3).. ConsolGaspf(5). ConRRCuba pf 6 Consol Textlle. Container (A) Container (B)... Cont Baking A.. Cont Baking B.. Cont Bak pf(8).. Cont Can (2%4). Contl Mot(80c) . Corn Prod (13).. Corn Prod pf Coty. Inc (g2) Crossley Ra($1) Crown Cork & S. Crue:ble Sti(d) Cuba Cane Su pt Cuba Company.. Cuban-Am Sug.. Cudahy PKg(4). Curtiss Aero(1). Cuyamel Fruit. . Davison Chem. . Del & Hud(9)... Del L& W(t7).. Det & Mack pf.. Devo&Rayn(12). Dev & Ray (rts) Diamond M (8). Dome Mines(1). Domin Stores(3) Dul $ S & Atl pt. Duplan Stlk (1). Drug Inci4).... Dunhill Int (14). Dupont (7141%) .. Du Font debi6) . Eitngon(2%). . Elec AutoL 143 Eleclow&Lt(1). Elec P&Lt pf(7) Elee Stor B (5). . Em Brantgm(A) End-John(5).... Eng PubSer($1). Erie R R. Erte 1st p! Erfe 24 pt. Sureka Vi . EvahsAu L 12%. Exchange(1%). Felrbanks(3)... FairbankMpf (7) Fashion P(k2%) Fashn PK pf (7). FedLt&Tra $1% Fed Min pf(7).. Fed Mot T(80¢).. Fidelity-Phoenx Fifth Ave(64c). . wirst NatS(1% Florsheim (A).. Follansbee 121 Foundation Co. . Fox Fiim A(4). Freeport T (4).. Fuller pr pf 8.68 Gabriel Snub A.. Gardner Motor. . Gen Am TC(34). Gen Asphalt. ... Gen Bronze (2).. Gen Cable. % Gen Cable Gen Cigars(4). . GenCigars pf(7) GenElec sp(60c) Gen G&El A 1%. Gen Gas pf A(T) Gen Mills (3)... Gen Mot (13.30). Gen Mot pf(1).. Gen Out ctfs(2). Clen Ry SIR(6). . Gen Refrac t3%. Gillette SR (5). Gimbel Bros. ... Glidden Co t1%. Giidden pr pf(7) Gobel (Adolph). Gold Dust (new) Goodrich(4).... Goodyr T&R(5). Goodyr 1st pf(7) Gotham H (234). Gothm pf exwar. Gould Coupler A Graham-Paige. . Granby Min (7). Grand F&W (1). Grand Un pf(3). Grant W T (1).. Grt North pf(5). Gt Nor pf efsi5) Grt NorO(al%). Grt Wn Sug 2.80. Grt Wn Su pf(7) Greene Cana(8). Guantanamo Sn. Guantanamo pf. Gulf Mo & Nor. Gu M & N pf(6) Gulf Stat Stl(4 Hahn Dept Stor.. Hahn DS pf 6% . HamiltonWpf(6) Hartmn B(1.20). Hawalian P (2).. Hayes Body (b8) Helme Geo(17). Helme pf (7)... Hershey Corp. Hershey pf(4).. HockingVal(10) Hollnd Fu(e2%) Hollander & Son Homestake(17). Houdaile-H 114 Household(14) Houston Ofl. Howe Sound (4). Hud Man(2%).. Hudson Mot (5). Hupp Mot (£2).. Tnd O & Gas (2). Ind Motor Cycle. Indtan Refining. Indlan Refg ctfs Indust Rayon... Inland St1'(3%). Inspiration C(4) InterboroRapTr. InterconRubbe: Internat Agri. Int Mer Mar pf.. Int Nick.Can 80¢ Int Paper pf (7). Int Int Papr & Po B. Int Papr & Po C. Int Pa&Po pf(7) Int Prig Ink 2% Int Prtg Ink pf 6 Int Ry CA pf(6). Intl Salt(5) Int Tel & Tel(6) Int Tel&Tel new 1 IntTel&Tel(rts) Inter Dept S(2). IDS pfx-w (7). Intertype(ft1%) Island Creek(4) Jewel Tea t6%.. Jonns-Manv(3). Jordan Motor. .. Kan City Sou(5) Kaufmn DS 1. Kayser J(5).... Keith-Albee. ... Keith-Al pf(7).. Kelly-Spring. Isey-Hays Kelsey Hay rt Kelvinator Col Kendall pf (163 Kennectt (5) Kimberly-C 2 Kinney (G R) Kinney pf(8). Kolster Radio. . Kraft-Pho(1%). 13| Kresge D S pf. Kreuger&T 1.34. . Kroger Gro(eld. Ope 340 15! 221 9 55 190 121%, 60 48 2% 65" 106% 25'% ilta 103 6614 9619 Gen Electric t6.. 28 424 2n 811y 96% 346 162 23 26% en. High. Low. 340 1567 2244 T2% 8014 92 95% 26% Close. 346 160 2214 111% 109% 109% 99 99 99 Deere&Co pf(7). 121's 122 908 e 88% 4314 s e 24% 16' 84% 104 183 864 700 10114 6018 97% 1095 6 16814 116% B 41 274 99 10 183 864 70% 1013 110% 107y 108% 8% 5 41% % 143% 143% 24 173 1004 16% 1684 8% 801y 997 15% 8% 5 4l 47 143% 16815 8 81 Sales. Lambert Co (¢ Lee Tire & Rub Leh Por Cmt 2% Lehigh PC pf(7) 1 Lehigh Val Coal LehighVal(3%). Lehn & Fink(3).. Lig Myers(15). . Lig & Myrs B 15. Lima Locomtve., Liquid Car t4% . Liquid Car(rts). 53 10 224 81 Lorlilard Co. Louistana Of1 Louis GasA 1. Louts & Nash(7) 140% LudlumSti(2).. 8% Mé Call Corp(4) McCrory B(2). .. McGraw Hill(2) Mclntyre P(1).. McKeespt Tin Pl McKesson&R(2) McKsn pf A 3% Mack Truck(6).. Macy Co (c2)... Mad 8q Gar 1%.. !‘\lagma Cop (5) y A 3l m2g(db Man Shirt(2) Maracaibo Ol1 Marland Uil. . Mair-Rock (14). Marmon Mot(4). Martin-Parry Mathieson (o Mathieson pt(7) May Dept S4). Maytag (12). Mavtag pf (3).. Melvle Shoe 1.40 Mengel Co. Mexiean S Miami Cop ( Mid-Cont P(2). Middle States Mid States ctf; Minn & St Lout Mo Kan & Tex. . Mo K&Tex pf(7) Missouri Pacific. MoPacific pf(5). Mohwk Car 23%.. Mont Ward 2% .. Moon Motor. . .. Morrell&Co 3.60. Mother L (40c).. Motion Pic Corp. Motor Meter A.. Motor Whi (2 Mullins Mfg. Murry Corp(k: Nash Motors(6). Nat Acme (1)... at Air Transpt. t Bellas H 11. Nat Biscuit (6). Nat Cash Reg 14 Nat Dairy ($11%) Nat Dept Stores. Nat Distiliers NatDistlrs pf(7) Nat Enamlg (1). Nat Lead(5).... Nat Lead pfA(7) at Ld pf B(6).. at Pow&Lt(1) at Radiator. at Radiator p! tSupply (18). t Supply pf 7. Tea (1%)... Nevada Cop (3). N O Tex&M (7). Newport A (3).. Newton Steel(3) N Y Alr Br(3)... Y Central(8).. & StL(6). NYNH&Hart(4) NH&H pt(7) ¥, Ont& Westn. N Y Stm pf(6).. NY Stm 1stpf 1. Norf & Wn(110) NorAm b10%stk rth Am pf(3). 1 ) b 4 011 Well S pf. Oliver Farm Eq. Oliver conv (3).. Oliver pf A (6). Omnibus. . ..... Oppenhm-Col(5) Otis Elev (6). Otis Steel. ... Owens-111 G1(4) . 8% 6% 3144 411 8315 Pac Coast 24 pt. Pacific Gas (2) Pac Lightg (3). Pacific Mills. ... Pac Tel & Tel(7) 180 Packard Mot 15. 1447 Pan-Am Petroim 60% Pan-Amer Pet B Panhandle Paramount-F-L Park & T11(13).. Park Utah(80¢c). Pathe EX......o Pathe EX(A). Patino M (3.89) Peerless Motor. Penick & Ford. . Penn Dixle Cmt. Penn R R (4)... Penna RR (rts). Pere Mara (18).. Pet Milk (1%).. Phelps-Do4s (3) Phila Co pt (23%4) Phila Cn £(3).. Phils & RC& .. Phil Morris(1).. Phillips-Jon(3). Phil-Tones pf(7) Phillips P (1%). Pierce-ATrow. .. Plerce-Ar pf (6) Pierce Ol. . Plerce Ol pf.... Plerce Petrolm. Pillsbury (2) Pirelli (A) 2.88 | Pitts Coal...... Pitts Coal pf. PittsFtW pf(i Pitts Ter pf(6). PortoRicoTobB. Postal T&C pf 7 Postum(3). Prairie O11& Prairie P L(14). Pressed Sti Car. Produ & Refinrs. Producers&R pf. Public Serv 2.60. Pub Serv pf(6).. Pullman Co(4).. Punta Aleg Sug. Pure Oil (1%).. Pure Ol pf(8).. Purity Baking.. 117% | Radlo Corpn.-... Radio pt (B). Radio-Kelth(A). RSCcfs(4).... ReadingRy (4). Reading 18t(2) Keading 2d(2). | RReal Silk Hos Real Silk pf(7) Reis(R)& Co. .. Remingtn-R Rem-Rd 2d(8).. Remingtn2d(8). Reo Mot (11) | Republic Brass | Rep Brass A (4) | Rep1&S(4).... Reynolds Spng: | Reynlds (R)2.40. Richfield Ol (2) 4 Rio Gr Oil (k2). 45% 46% 15 a4 8. Ritter Dent 214 . Rossia Ins (n). Rossia Ins (rts). | Royal Bak P(1). | Royal D(a1.336) Safeway (3). Safeway pf (1) St Jos Lean 13). StL & San Fr(8) StL&SanF pf(6) StL&Southwest StL Swn pt(5).. Savage Arms(3) Schulte Stores. . Schulte pf(8)... Seab Afr Line. ,. Seab Alr L pf. 162 106 6913 114% NEW YORK STOCK EXCHANGE High. Low. Close. 185 135 15 5214 110 22% 1404 84ts 150 141% 60 180 145% 60% 64 118% 1617% 106 68% 13 24 9044 90% 42 211 103 167 20 Received by Private Wire Direct to The Star Office Open. High. Lew. Clore. 16 16 18 16 156% 157 153 153 5 5 4% 47 1497 28% 60 83% 29% 39% .20 Sears-Roe(32%) | Seneca Copper... Shattuck FG (2). Shell Un(1.40).. Shubert The(5). Stmmons Co(3).. SimmsPet(1.60) Sinclair Of1 t2%. Sinclair pf(8)... 1 Skelly O11(2). Snider Packg Co. Snider Pkg pf... SoPoR Su t2%. South Cal Ed (2) South Dairtes B South Pac(8) South Ry (8). Souta Ry pf(5 SouRyM&O cfs ¢ Spang Chalfnt.. Sparks With(3). SparksWith(wi) Spen Kellog 1.60 Spicer Mfg..... SpicerMfg pf(3) Spiegel Co (3).. Stand Com T(1). StAG&E (3%). Std O of Cal(13) Std Ol NJ ($2). StdO:INY(1.60). StwartWar(3%) Stromberg (3).. Studebaker(35). Studebak pf Submarine B Sun Oil pf (6. sperior Oil perior Ste ls.,.., ve A 149% 28% 60 83% 29% 39% Symington Cl A Tenn Copper(1). 18 Texas Corpn(3). TexasGulfSul(4) Texas & Pac(5). Tex&P C&O(b5) Tex Land Trust. hatcher MfR. .. Thatchr pf 3.60.. he Falr(2.40).. Thomp J R(3.60) Tidewater AsOil TIAWASOIIDL(8) TidewatrO(80c) Tim Det Ax .80 Timken R B (3).. Cub Prod (140). Tob Prod A 1.40. -19% Transcont Ofl. .. Trico Prod(2%) TruaxTraer 1.60. 18% i Un Ol Cali2). Union Pac(10).. Un Pactfic pf( Unton Tank(5) Utd Afr & Trans Utd AIr&Tpt(3) . Utd Biscuit 1.60. Utd Cigar St(1). Utd Cer St pf(6) United Corpn. .. Utd Corpn pf(3). Utd Dyewood. ... Utd Elec Coal Utd Fruit (c4).. 1 US Cast Ir P(3). U S Distributing U S Steel pf(7).. U S Steel new (7) U S Steel (rts). . Uni Leaf Tob(3) Uni Pic 18t pf(8) Univ Pipe & Rad UtahCopper (16) . Utll P&L Ate2). Vadasco Sa Vanadium tor pr pf(7).. 114% 114% Caro Chem.. 1215 124 43 Vie v, Waldorf(1%)... Walgreen pf 6% 103 Walworth(1.20). 34% Ward Baking (A 484 Ward Baking B.. 10% Ward Bak pf(7). Warner Bros Pio Warner Pic (n). Warner pf(2.20) Warner-Qu(2).. Warrn Bros (15) Warren F&Pire. Wesson O pf (: W Penn El pf(7) West Maryland. West Pacific. ... West Pacific pf.. W U Teleg (3).. ‘esthse A B(2). Westhse 1st(4). Weston Electrie. White Eagle(2). White Mot(1).., White Rock (3). White Sew Mach Wilcox Ol & G.. Wilcox (A) 23.. Wilcox Rich B. . Willys Ov c1.20. Willys-Ovd pf 7. \Wilson & Co, . Wilson Co pf A. Woolworth (8).. 2: Woolworth new. Worthn Pump Wright Aero.... 127% Wrigey ((13%). 744 Yellow Truck. 4l Young Spg 123 . 61% 62% 61 61 Youngstu Shtb)y. 127% 127w 127 127 Hourly Sales on N. ¥, Market. 10:30 am.. 614.700 12 m... 1,700,600 1:30 p.m. 2,207,800 2:15 p.m2,530,400 Dividena given In the above Dayments based o early declarations. e e Plus 5% in stock. d e Pavable in cash_or 2 us n stock, ® Plus 60 sfock, b Partly stock i Plus 30 "in ock. k Plus 1/120 share quarterly In stock m Payable 1/10 share quarterly in United Cigar Stores common stock. B PIus 1% % 1D stock. Wall Street Briefs By the Associated Press. New Era Motors, Inc, has been formed, with a capitalization of $5,000- 000, wheel-drive pleasure automobile to be built in this country. The car is to be known as the Ruxton. The company is headed by A. M. Andrews, a director of the Hupp Motor Car Corporation and a_substantial stockholder in the E. W. Budd Manufacturing Co. and the Budd Wheel Co. The directorate in- cludes W. V. C. Ruxton, a partner in An issue of 33,000 shares of common stock, $75 par, of the Winton Engine Co. of Cleveland was made today by a syndicate of New York, Chicago and Detroit bankers. The Winton Engine Co. was formerly a part of the Winton Motor Co., automobile manufacturers. The present company manufactures Winton, Diesel and gasoline engines. The Union Carbide & Carbon Cor- poration, through a subsidiary, has ac- quired all the outstanding capital stock of the Meraker Smelting Co., Ltd., which owns and operates four hydro- electric power stations in the Trond- Jham district of Nor The American Locomotive Co. has re- j ceived orders for 10 Mikado type loco- motives from the Chicago, Indianapolis | & Louisville Railroad. An order for one locomotive has beex laced by the Calu- met & Hecla Co fi;tud Mining Co, to manufacture the first front-| the_brokerage firm of Spencer Trask | Co. FINARCIALT” STOCKS ARE HEAVY IN LATE SELLING Wall Street, Gratified at, Brokers’ Loan Statement, Fears Rate Situation. BY STANLEY W. PRENOSIL, Associated Press Financial Writer. NEW YORK, May 24—Stock prices | made further recovery in today’s market, but trading turned extremely dull. ‘Waves of selling swept over the market | at intervals, sending some of the pop- | ular industrials below yesterday's final quotations, but prices invariably snap- ped back as soon as selling pressure | was lifted. A late selling movement was expedited by the fall in some of the volatile shares. Case Threshing dropped 15 points below its early high, and Gen- eral Electric, Columbia Graphophone and Electric Auto-Lite lost 7. Specu- lators who bought early hastened to let go when they saw that prices of the recognized leaders were rapidly losing ground. The closing was heavy. The market's dullness was attributed to the disinclination of large and small traders to extend their commitments while the market continued under the threat of higher rediscount rates. Di- rectors of the Chicago Fede: Reserve Bank, who previously have been re- ported in favor of a rise in rediscount rates to 6 per cent, meet today, but ‘Wall Street considered it extremely doubtful that they would receive ap- proval for a higher rate at this time. Many traders belleve that any general increase in rates will be deferred., Market Opens Strong. Retention of the 5 per cent rediscount rate by the New York Federal Reserve Bank and the drop of $45,000,000 in brokers' loans brought fresh buying into the market overnight, and opening prices displayed a strong undertone. Wright Aeronautical opened 3!, points higher, May Department Stores and In- terstate Department Stares 2!, each and Atlantic Refining and Marmon Mo- tors 2 each. Initial gains of a point or more were recorded by Chrysler, Radio, Westinghouse Electric, General Railway Signal and Erie common. With the possibility of a higher New York Federal Reserve rate postponed for at least another week, speculators for the advance resumed their opera- tions in a wide assortment of issues. Gains of 1 to 5 points were quite com mon in the early trading, with short covering again an important factor in the advance. While some traders were disappointed that the drop in loans was not larger, the increase in the reserve ratio of the New York bank from 78.9 per cent last week to 84.4 per cent this week, as con- trasted with a ratio of 72.5 per cent a year ago, had a cheerful effect on speculative: sentiment. Commission houses also pointed out that the rela- tively small volume of trading this week indicated an absence of any extensive liquidation of investment holdings. Early gains of 3 to 5 points were recorded by Case Threshing, United Aircraft, General Electric, Fox Film, Columbia Graphophone, National Bellas Hess, Superior Steel and Columbia Gas, the last-named touching & new high record for the' year. ! Traders More Confident. Anaconda, Greene Cananea Copper, Johns . Manville, Elextric Auto _Lite, | A. M. Byers, American & Soreign Power and Union Pacific were among the score | or so issues to move up 2 ‘po‘nts or more. There were only a few soft spots, Burroughs Adding Machine dropping 4 points and Auburn Auto, 2. Traders showed little hesitancy in buying the well-known speculative and investment issues when it was revealed that money was still plentiful at the renewal rate of 6 per cent. Toward midday some of the leaders began to slip under the weight of professional realizing, General Electric and Columbia Graphophone falling 3 points below the best prices they had made earlier. Na- tional Cash Register, which spurted 6 points at yesterday's close, was driven 2 _points under that quotation. MONEY TO LOAN PROVED, ON ™! Mortgages Investments DISTRICT OF COLUMBIA REAL E! T JAMES Y. PENNEBAKER Main 5328 1520 K St. N.W. NO COMMISSI COLUMBIA PERMANENT BUILDING ASSOCIATION 733 12th Street N.W. Main 852-353 OR RENEWALS LY Let us have your applications for LOANS ON REAL ESTATE Immediate Action Courteous Treatment Our record of 35 ‘years speaks for itself. Percy H. Russell Co. 1731 K St. N.W. Mortgage Money Loaned At Low Interest Rates Tyler & Rutherford Representing Mutual Benefit Life Ins. Co. 1520 K Street Main 475 We Recommend— .. Spencer Trask Fund, Inc. at the market Money Available for FIRST DEED OF TRUST LOANS On Completed Properi and for Construction U Reasonable Interest and Commission Rates JAMES F. SHEA 643 Louisiana Ave. N.W. o Circular on Request Irving & Johnston Woodward Bldg. Main 8973 Correspondents of Spencer Trask & Co. Members Wash. Stock Exchange Consult Us Regarding Your Maturing Mortgage LONG-TERM REAL ESTATE LOANS 5%% We Make First Mortgages on Homes, Apartments and Business Properties in the District of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue. Decatur 3600 Equitable Co-Operative Bldg. Ass'n JOHN JOY EDSON, President 'WALTER S. PRATT, Jr., Secretary. Organized 1879 49th YEAR COMPLETED Assets .... $5,513,051.63 Surplus & Profits. 4.98 Subscription for the 97th Issue of Stock Being Received Save Systematically " in the Equitable THE Equitable’s plan of sys- tematic savings encourages thrift' in a manner that if con- sistently followed will eventually lead to financial independence. Start now while you have a steady earning power. Come in and let us explain about our systematic plan. 915 F St. N.W. MERGENTHALER LINOTYPE CO. Brookign, N. ¥~ May 21, 153, be. cle wi osed. RFFENBERGER, Treasurer. ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. 62nd Issue of Stock Now Open for Subscription Money Loaned to Members on Easy Monthly Payments James E. Connelly James F. She President eeretar Loans on Autos Legal Interest Our Only Charge Quick Service—Confidential UNITED LOAN CO. Rosslyn, Virgini ss_Key Bridee—Opposite Bank Guaranteed 6% First Mortgage Notes Secured on Income- Producing Properties in the Distriet of Columbia and Nearby Maryland District National Securities Corp. Suite 303-307 Telephone Main 2994 rict National Bank Building __6% NOTES Secured by First Mortgages Safe—Conservative 42 Years’ Experience in finanecing s and In the of these se- w! satety. curitiea. Wm. H.Saunders Co, Inc. REALTORS Main 1016 1433 K T}le Generous Yield of SIX PER CENT HANNON & LUCHS, INC., First Mortgage Securities are never worth more or less than face value plus interest— and the highest rate of interest which is compatible with absolute safety — SIX PER CENT. There is never any fluctuation in the value of this Preferred Investment, for Im- proved Business and Residential Real Estate in Washington secures each note, and it is to be remembered that there are no strikes, walkouts or industrial dis- orders here to deflate the value of this Inyestment of Proven Safety. This Real Income Producing Security has stood the test of safety for nearly a Quarter Century SHANNON: & LUCHY First Mortigage Tnvestments Telephone: Main 2345 1435 K Street, Northwest Of special Interest to Home Owners Our Real Estate Loan Embraces Satisfactory Terms Minimum Interest Rates No Renewal Charges Consult W REALTORS 809—15th St. N.W. Main 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company