Evening Star Newspaper, July 31, 1929, Page 14

FINANCIAL INCREASE 15 SHOWN BY BANK CLEARINGS July Movement of Money Bet- ter Than a Year Ago. Above June. BY EDWARD C. STONE. PBank clearings in Washington dur- ing July made an unusually fine show- ing, according to the figures compiled today by Charles E. Bright, manager of the Washington Clearing House As- sociation. Total July clear- ings in this city amounted to $12 497,771.87, a mu better showing than a vear ago when they the total or a gain during the month ending tocay eof 3 104.06. The clear were afo well ahead of June, the figures for the pre- ceding_motith be- ing $124,028,347.42. Used as a business barometer all these figures indicate that trade has held up remarkably well in Washington, the heavy check turn: over in the banks indicating unmistak- able mercantile activity and growth. Gustave W. Forsbers. Clearings in the Capital for the first | seven months of the present year are | equally interesting. The total for this | period amounts to $378,545,619.05 while clearings for the same period in 1928 | were $8: 09,993.8: ‘These ures reveal an increase in clearings so far in 1929 of $53,335,625.23. With only normal business during the yemainder of the year, clearings in Washington are certain to hang up a new record, which will be highly grati- fving to the city's banking-and business interests. New Norfolk Steamboat Official. At a meeting of the board of directors of the Norfolk & Washington Steam- boat Co.. held yesterday afternoon, Gustave W. Forsberg was elected second yice president of the company. Mr. Forsbaz has been identified with steamboat companies for about 35 years. During a part of that time he was treasurer and later became president of the Washington & Colonial Beach Steamboat_Co. president and treasurer of the Terminal ing & Warehousing Co. of and has for many vears been a director in the National Bank of Washington and in the Park Savings Bank. He has also been a director for & number of years in the Norfolk & Wash- | ington Steamboat Co., in which he now | becomes an important official. He was a close personal friend of John Callahan, first general manager of the company. In the opinion of the other directors his | past experience makes him particularly | well qualified to fill the position to| which he has been elected. | 10815 104 He is at present vice | ; TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Stock ana . Low. Dividend Rate. 4% 384 Abitibi Power & Pap 88% 79 Abitibl P & P pf(s) 750 389 Adams Express ( ). 37% Air Wal E1 Ap(2%).. 415 A . 41 Alaska Juneau.. 12 Albany P W Paper. 27% Allesheny Corp 9914 Allegheny pf (5%).. 100% Alleghny pf rets 5 %. 821 Alleghny old ex war, 346% 241 Allled Ch & Dye (6). 125 120% Allied C & D pf (1) 284 166 Allis-Chalm Mf (7) 42% 22 Amerada Corp (2). 23% 104 Am Agricul Chem 73% 40% Am Agricui Ch pt 1487 110 Am Bank Note (13) 201 14% Am Beet Sug: Am Beet Sug: 45 Am Brake Shoe 2.40. 15% Am Brown Bov Elec. 111 169 142 10615 107% Am Can (14)... 1364 Am Can pf (7)... 92 Am Car & Fdy (6) 70% Am Chain pf (7). 463 Am Chicle (2).. 4315 Am Com Alc (K1.60). 23% Am Encaust Til (2).. 824 Am European Sec 75% Am & For Power. Am & For Pw pf (7). 103 88 Am &For Pw 2d pf.. 48% 38 Amlce (13).. 96 89% Am Ice pf (6) 79% 5214 Am Internat (12) 414°Am La F & Foamit, 102% Am Locomotive (8) 119% 113 ° Am Loco pt (7) 191 147% Am Mch & Fdy 50 Am Metal (3) 4 Am Piano. 81'% Am Pow & S 984 Am Pow & Lt pf (6). 40's Am Rad&Std S(1%). 70 AmP&LDLA (3)... 40 Am Republics. . 34% 1063 Am Roll Mill (c2) 74% 61 Am Safety Raz (16) 41% 3214 Am Seating (3). 7 3% Am Ship & Com 124% 9313 Am Sm & Ref (4). 130 Am Sm & Ref pt (7). 56 Am Steel Fdy (3).... 65 Am Stores (2)....... 714 Am Sugar Rfg (5)... 4 Am Sumatra (3). 314 Am Tel & Tel (9). 186% 160 Am Tobacco (8) 188 160% Am Tobacco B (8) 121% 115 Am Tobacco pf (6 160 13613 Am Type Fdry (8). 138% 674 Am Water Wks (c1 16% 9 Am Writ Paper ctfs 27ix 164 Am Woolen. 58% 3914 22 Am Zinc Ld&Sm. ... 9014 Am Zinc Ld&Sm pf. 13874 62% Anaconda W&C (3).. Anchor Cap 12.40). 68% 44% Andes Copper (3)... 4913 29 Archer-Dan-M (2). 18% 105% Armour Il (A). 104 6% Armour Il (B). 40% 19's Arnold Constable. 30 2113 Artloom (2)....... 30% 263 Art Metal (133).. 58% 49% Asso ApplInd (4) T0% Asso Dry G (2%). 26014 195% Atch T &S Fe (10 103% 99 Atch T&SF pf (5).. 209 169 AtlCoast Line (110 % 3214 AtlG & W Indies. 611; 45% AtU1G & W Lpt (4).. The Norfolk & Washington Steam- boat Co. is reported as doing an exc?b‘ lent business. The new Chamberlin-| Vanderbilt Hotel at Old Point Comfort, | which has taken the place of the famous old hostelry that was burned many vears ago, has been an important factor in boosting earnings. The stock sells on the Washington Stock Exchange around 300 a share. 1 Traction Earnings Off. Monthly and semi-annual declines in net income are shown in the report of the Capital Traction Co. for June filed with the Public Utilities Commis- sion. Net income of the company for June was $49,097.92, a decrease of £15.716.37 from the preceding month | and one of $1454.67 under June of | 1928. Net income for the yvear todate, | $330.298.50, also $30,253.82 under | that for the first half of 1928. { Operating revenues for June were $359,504.28, as against $389,304.72 for | and operating expenses $255,- | , in comparison with $263,059.94 in May. Taxes for the month were | $27,406.08, as compared with $32,076.65 | for’ the month prior. Gross income for June $8242072, and that for May, $94.727.96. The total of revenue passengers carried in June was 4,714, while that for May was 5,072,291, $127,050 Phone Outlay Voted. ‘The board of directors of the Chesa- | peake & Potomac Telephone Co., yes-| 3 terday authorized betterments to the telephone system in the District of | Columbia_involving expenditures of $127,050, bringing the total amount ap- | propriated for such work so far this | year to $1483,815. The facilities to be provided under this appropriation include underground | conduit_and cable extensions in_the | North Potomac, Decatur, Georgia, Met- ropolitan, District, National and Lin- coln central office areas and rearrange- ments of equipment in downtown tele- Phone central office buildings. Railway Common Sells at 880. One share of Washington Railway & Electric common sold on the Wnsh-' ington Stock Exchange today at $880, a new all-time high mark in this issue. ‘This is the stock for which five shares, of North American stock have been ' in exchange for one of the local ‘The recent sharp rise in North American stock on the New York Ex- change has increased the values of ‘Washington Railway common, recently forcing the bid price on rallway com- mon up 100 points and resulting in to- day’s climax sale. ading in other issues on the local exchange today was quiet, being large- 1y confined to small lots. Both stocks and bonds sold around recent levels. In and Out of the Local Banks. George L. Starkey, president of the National Bank of Washington, accom- panied by Mrs. Starkey, left the city today for a short visit at Atlantic City. Howard Moran, vice president of the American Security & Trust Co., has re- turned from a month’s vacation and President Corcoran Thom has started on his trip to Europe. Frank W. Stone, vice president of the National Savings & Trust Co., has re- turned from a month’s vacation passed at Atlantic City, Quebec and Lake George. Secretary E. P. Wilson starts on his vacation August 1. Clarence F. Norment, head of the Norfolk & Washington Steamboat Co., came over from Atlantic City to attend the directors’ meeting. He has fully recovered from his recent illness. Edwin C. Brandenburg, trust officer of the National Bank of Washington, is leaving Washington for a six-week vacation at Bailey's Island, near Port- land, Me. Robert C. Jones, one of the managers of Murphy & Co., booked for a week's vacation at Virginia Beach. William M. Feay, office manager of the Federal-American Co., has returned from a wedding trip, his bride being Ella M. Willidfns, formerly in the trust department of the Federal-American National Bank. McElroy Moss, co-manager of the 17cal office of Harriss & Vose, is taking @ two weeks’ vacation trip to Canada. _ Frank P. Morse, resident partner, J. & W. Seligman & Co., has returned ~to his office after being confined to his ‘home with a severe cold. A. S. Gatley, executive vice president. of the Lincoln National Bank and treasurer of the District of Columbia Bankers' Association, has left for two weeks vacation. Charles E. Howe, treasurer of the Federal-American National Bank, leaves for his annual vacation at Mifflintown, Pa., tomorrow. The Federal-American Co| has moved its offices from the street level in the bank building to the mezzannine, where ample space was available, ] 77 5315 Atl Refining (11%) 115 90 Atlas Powder (4) 405 221 Auburn Auto (J4) 10 514 Austin Nichols. 35% 22 Autosales.... 27114 210 Baldwin Loco (7) 138% 115% Balto & Ohio (6). 803 Balto & Ohio pf (4).. 136% 123t Balto & Ohio full pd. 8RY 64'5 Bang & Aroos (3%). 49% 36's Barnsdall (32%).... 32 20 BeaconOll... 9515 95 Beatrice Cream (4). 101 73 Beech-Nut Pack (3). 17% 11 Belding-Heminway.. R4’% &1 Belg N Ry pt pf (16) 104% 78 Bendix Aviation (2). 96% 75% Best&Co (3)....... 124% 821 Bethlehem Steel (6). 123 116% Bethlehem St pf (7). 136% 1104 Bohn Alum&Br(t4) 1001 &314 Borden Co (3) 143% 107 Borg Warner ( 144% 85 Boston & Main 6314 30% Brigss Mfz 42% 36% Briggs&Stratton(2). 6% 3w British Empire Steel 128% 114% Bristol Myers(1434). 737 40% Brockway M T (3)... 817 594 Bkiyn-Manhat (4)... 227 170 Bklyn Unlon Gas (5) 55% 34% Bruns-Balk-Col(3).. 42% 25' Bucyrus Erie (1). 50 38% Bucyruscvpf (2%). 85 54% Buff & Susque. . - 96 Burns Bros A (8) % 234 Burr Add Mch (15). 8914 54% Bush Term (82).. 4% Butte Copper & Zinc. 6'% Butte & Superior (2) 28 Batterick Co.. 192% 122% Byers (A M) 87% 31% By-Prod Cok 21 1396 1 Anaconda Copr (7).. 602 Sales— Add 00. High. Low. 48 51% b60% 11 86 5 2 113 113% 12 114% 113% 7 85 S4% 29 312 809% 122 7 1 1 12% 124 2 4T% A% 5 141% 169% 1 18% 14% 50 50% 6213 60% 58 b6% 32% 30% 162% 157% 138 138 101% 100% 84 84 228 2 6 1 6 66% 63 47% 46 325 381 92 90 139% 133% 23 17 4 1521 100 49 T84 4l 124% 65% 34 314 110% 135 6414 15315 148 100 100 49'% 48%, 73 3% 42 415 127% 121% 65's 65% 34 34 3% 3u 11t 110% 135 135 66 624 665 664 83% 83% 434 43 7 267% 265% 178 178 25 179% 176% 2 115% 115% 2 157 157 75 136% 5 13l 14 184w 6 42% 25% 947 1154 1 664 66'5 61 |51 5118 | 50 30 10% 57y 8 101% 101 197'% 196 61% 61% 5. 547n 122% 121% 120 116 94 93 18 13 6 10 1 2160 213 39 38 31 31 40% 83 9 9714 317 317 581y 581 a4 4% ] 30 3 1 32% 2 1 3 1 5 ¥ 5 1 —_—C—— $2% 724 Calif Packing (4)... 3 1% Callahan Zinc & L. 135 123 Calumet & Ariz (10). 617% . 36% Calumet & Hecla(4). 47% 46 Campbell Wyant (2). 98% 178 Canada Dry G A (5). 265% 218 Canadian Pac (10).. 388% 308 e (J 1) ctfs (6) 42% 22 vanagh-Dobbs. 1055 91 Cavanazh-D pf(6 54 20% 160 32 10 Century Rib Mills. .. 88% Cérro de Pasco (6).. 16 Certain-teed Prod 275 195 Ches & Ohio (10). 110% 78% Chesapeake Corp (3) 237 12% ChiGreat Western. . 43 27% Chi Mil St P&Pac... 08% 46' Chi Mil St P&Pac pf. 97% 80% Ch1&NW (4)....u0 145 13¢ Chi&NWDL(T).... 44% 28% Chi Pneu Tool... 561, 484 Chi Pneu T pf (3%4).. 1427 115 Chi R1& Pac (7) 108'% 105% Chi R1& Pac pt (7 50 36 Chlckasha C Oil (3) 44% Childs Co (2.40) 66 Chrysler Corp ( 49 CitylIce & F (3.60).. 19 City Stores (1), 42Y% Cluett Peahody (5) 4874 120% Coca-Cola (4).. 72% 46 Collins & Alkman 78% 56 Colo Fuel & Iron. 94% 53% Columb G & E (2).. 109 1037 Colum G&E pf A(6). 88% b5% Col Graph (29¢c) 62% 43 Com Credit (2). 195 131% Com Inv Trust (t4) 99 92 Com InvTr pf(6%) 492 226% Com Solvents (h8). 246 107% Comnwealth Pwr t4. 93 59 Conde Nast Pub (2).. 3o% 19% Congoleum-Nairn. 11 1% Conley Tinfoil sta 96% 63 Consol Cigar (7).. 30% 25 152 95% Consol Gas (3)... 100% 96% Consol Gas pf (5) 6% 2% Consol Textile. 231% 12 Contalner Corp 11% + 6 Container Corp B.... 16% 8% Contl Baking B.. 100 88% Contl Baking pf (8).. 61% 659% Cont’l Bank of N. Y. 108% 82 82% 51 125 83 25% 106% 85 Crucible Steel (5)... 116% 109 Crucible Steel pf (7) 174 Cuba Cane Sugar.... 5% Cuba Cane Sugar pf. Corn Prod (13%) Coty Inc (g2).. 173% 185% Curtiss 101% 58% Cutler-Ha 97% 63 CuyamelF: 69% 427 Davison Chem.... 226 182 160% 120% Del Lack & W (17) 77% b5% Denv& RG W pt 331 224 Detroit Edison (8) 4% 43% Devne & Ray A (13). 10% 8% Dome Mines (1 54% 40 Dominion Strs(1.20) 1264 105 Drug Corpn (4) 92 48% Dunhill Inter (. Crosley Radio (t1).. 18 Crown Zellerbach (1) Delaware & Hud (9). 7 8% T8% 4 1% 1, 6 1300 12915 14 41% 4l's 2 46 17 90% 89 36 2315 22815 4 366 360 224 22% 9 90% 2 40 Cent Alloy Steel (2). 503 3 53% 53% 135 134 105% 105% 37 37 1063 106's 65% 63% 4Th 46% 176% 1731 94 94 492 480 224% Consol Film In pf(2) 26 3 % 51 169 157% 2 47 45% 45 9 111% 111 111 4 50 50 60 Prev | . -Prev. 1920~ ligh. Stoc* and mvmn: Rate, Sales— 21 21 60 191% 188% 13 118% 3% Eastman Kod (18).. 26 28 195% 193 Eaton Axle & 8 (3).. 62 5974 ElPwr&Ltpf (7)., Elec Stor Bat (5). Endicott-John (5) Eng Pub Serve (11). Eng Pub Sve of (5).. Equitablg BlAg(2% ). ErfoRR.........00 Erfe RR1stpf (4).. Eureka Vac Cl (4) 40% Fairbanks Morse (3) 0tk2% ). Fed Lt & Tre (31%). F14 Phen F Ins (2).. Follansbes (123). .. Foundation Ca. Fox Film A (4)..... Freeport-Texas (4). e Gabriel Snub A. Gamewell Co (5). Gen Electric (16)... 453 ec spec (60c). 14 od Corpn (3) 50 Gen Gas&El A (el%) 162 Gen Mills (3). 9 Gen Mills pf (6 570 8 Gen Motors (13.30),. 795 Gen Motors pf (7)... 8§ Gen Outd Ad vte (2). Gen Public Serv(b6) Gen Ry Signal (5) Gen Refrac (1334) Gobel (Adolf). ... Gold Dust (2%4)..... 16 Gold Dust pf (6).... Goodrich BF (4).... 86 Goodyear Tire (5)... 175 Goodyear 1st pf (7). Gotham Silk H (2%) Graham-Paige...... 11 Granby Consol (1) Grand Unfon........ Grand Unfon pf (3).. Granite City St1 (3).. Grant WT (1).. Grt North pf (5) Grt North pf ct (5).. Grt Nor Ore (a1%).. Grt West Sug (2.80). 7 1 Gulf Sta Steel (4) -H- n Dept Stores. ., tman A (2) Hartman B (1.20). .. Hayes Bdy (b8%stk) Hercules P pf (7)... Hershey Chocolate. . Hershey Choc pf (4). Hershey Ch pr pf(6). Hoe (R) & Co. . Hollander & Son. ... Houd Hersh B (1%). Househd Fin pf (3).. Household Prd (14). H, 5 Houston Oil. ., 0 45 Howe Sound (14%).. Hudson & Man (234). Hudson Manh pf(5). Hudson Motor (5)... Hupp Motor (£2) / Illinots Central (7).. 1ndepend OIl & G (2) Indian Motor Cycl Indian Refining. Indian Refining ct... Industrial Rayon.... Inland Steel (3%)... Ingersol Rand (5%). Inspiration (4) . Interboro Rap Intl Agricultural Intl Agri prpf (7)... Intl Cement (4). Intl Comb Eng (2) Intl Cmb pr(T). Intl Harvester (234). % Intl Harvpf (7)..... Int Hydro El A (e2). Intl Match pf (3.20). Int Mer Marine etfs.. % Intl Nickel Can (80c) Intl Pap & P A(2.40). Intl Pap & Pwr B.... Intl Pap & Pwr C.... Intl Pap & Pwr pf(7) Intl Print Ink (2%). Int] Silver (18) Intl Tel & Teleg Inter Dept 8t (2) Intertype (ft134).... Isiand Creek Coal(4) Jewel Tea new (3).. Johns-Manville (3).. Jordan Motor Car. 20 784% 63 185% 8. W Kinney (G R) (1)... Kolster Radio. Kress SH (1). . Kreuger & Tol(1.34). Kroger Gr&Bak(cl1). 4 283 13 Lago O1l & Tra; Lambert Co (8). Lee Rubber & Tire. . Leh Port Cem (2%). Lehigh Valley Coal. . Leh Val Coal pf (3). Lehn & Fink (3).. Liggett & My (16) Liggett & My B (15). 4 Link Belt (2.40)..... Liq Carbonic (t4%). Loew’s Ing (2)...... Loew's pfxw (6%). Loft Inc. Long B Loose-Wiles (2.60 Loriilard (P) C Lorillard (P) pf Loutsiana Oil....... 10 LouG&EIA (1%).. 173 Louls & Nash 3 Ludlum Sty 3 Ludium Stipf (6%). 1 118 McGraw-Hill (2).... 1 43 rt 12 McKesson & Rob (2) McKes & Rbpf(3%). Mack Trucks (6). Macy (RH)&Co(ct Madison Sq G (1% Mandel Bros (2% Elec Supply. ... Man Eley mod (d5). Man Shirt (2).... Maracaibo Oil Exp. . Marlin-Rockw (t4).. 2 Marmon Motor (4).. 132 Mathleson Alk (e2)., 16 312 Maytag Co pf (3). Melville Shoe (1.40). el Co. Mid-Continent P (2). Middle States Oll. Middle States Oi cf Midiand Stl pf $10%, Miller Rubber. Minn Moline Pw: Minn Moline pf Mo Kan & Texas. ... Mo Kan & Tex pf(7). Missouri Pacific. . Missour! Pac pf (5).. 14 Mohawk Carpet 12% 5 Mont Ward (2%)... lllg 7 39 1 Add -:.sm:. Low. Close. 189% 118% 193% 62 52 128% 119 1131 30 374 171% 1 51 96~ 96 % Tiw 35% 24% 23% 334 120 4 1054 108 224 T0% 0% 597 Moto Meter A ct. Motor Meter G & E. Mbtor Products (17 Motor Wheel (2), MuMins Mfg. Muns| Weal Nash Motors (8).... 47 Nat Acme (1%) 22 Natl Air Trans... Natl Bella Hess(11). y (5) E‘.“ Tea (1%). Norfolk&Wstn(110). _ North Am(b10%stk) 11 North Am pf (3).... 3 4 Northern Pac (5) North Pacct (). O11 Well Supply. . Oltver Farm Equij Olivr Fr Fqpf A(6). Olivr Fr Ep cv pt(3). Omnibus Corp. .. Oppenheim Col (5). Otls Steel....... PEELE Pacific Coast. Pacific Gas & E Pacific Lighting Pacific Oil stubs. Packard Motor n-Am Petroleum. . Pan-A; Panhandle P& R. Paramount-F-L (3). Park Utah (80¢) Penick & Ford z Penn Dixie Cement. . Pennsylvania RR(4) People’s Gas Chi (8). Pere Marquette (13). Pet Milk (1%). Phillips-Jon, Phillips Pet Pierce OI1. Plerce Petr 4 Pilisbury Flour (2).. Pirelli Co A (2.88). Pittsburgh Coal. Pitts Terminal Coal. Poor & Co (12)...... P Rican Am To (A)T P Rican Am To (B).. 4 Postal Tel & C pf(7). Prairie Oil & Gas. Prairie Pipe L (14) Pressed Steel Car. Prod & Refiners. . Pub Sve NJ (2.60)... Pub Sve NJ pf (6). Pub Sve NJ pf (8 Pub Sve E&G pf ( Puliman Corp (4) Pure Ol (1%) Pufity Baker! Radio'Corp...... Radiopt B (5). @ Radio-Keith-Orph 4.~ 60 Reading (4) 7 Real Silk Hoslery Remington-Rand. ... 5 4 Reming-Rnd 1st (7). Reo Motors (11.60).. Rep Iron & Stl (4). Rep Ir & St1 pf (7). Richfield Oil (2). Rio Grande Oil (k Reyal Dutch(al.336) Rutland pf... Safeway Stores (3).. St Joseph Lead (13). St L-San Fran (8). St L-San Fran pf (6) Seagrave (e1.20). Sears Roebck (32%). Seneca Copper... Sharon Steel H (3) Shattuck F G (2) Shell Union (1.40). Simmons Co (3). Simms Pet (1.60) Sinclairoil (123). Skelly Ofl (2).... Sloss Sheffield steel. Sloss-Sheffeld pf (7) Snider Packing pf. . So Porto R Sug 12%. Southern Cal Ed (2). 2 68 Murray Corp (a3)... 105 89% 72% 70 109% 107% 1 1 132 60 1991 196% 321 32 60 216 5314 53% 284 27 180 180% 38% Ti% Stock and Divider d Rate. Add 00. High. 84 Southe: Soutl 125 1% 54% 45% 58 89 8d% 384 42% 42% 103 198 142 Spang. Spark: Spen Sterlin Sterlin, Sweets 36% 1% 109 1 United 130% 6014 60% 8k Utd G: USCIP U 8 For 319% 3621% U S Ho 199 196% 324 33 60 59 216 209 5314 531 28 274 38% 41 36% 37 1% 591 215 U S Rul Rul 21 . Sm Wabhas Westn B4% 854 8 T 35% 35% 1194 119% 821, 81 48% 48% 95 21'% 112 uz White White Wileox Wilcox Wilson Wilson Woolwi 178 177w 674 674 128% 1294 | | Yale & Yellow Young Young Zenith Col Ga: 54 Sales of Divident cash payments based ftaration. sU 4% in stock. S0t 52u | o Paid his genene 361, 367 | o -0 in _stock. 70% 68% | Flus 8% tn stock §Plus ear—no 68% Spicer Mfg. . Spicer Mfg pf (3). Stand Com Tob (1).. 80% Stand Gas & El (3%) Stand Ol Calif (13). Stand OIIN J (12)... Stand O1l N Y (1.60). P C&Oil (b6). Texas Pac Land Tr.. ‘Thatcher Mfg. ' Underw-El-F - Union Bak & Paper. . Unfon Carbide(2.60). Union Oil Calif (2).. Unlon Pacific (10)... 1 Union Pacifie pf (4). % Union Tank Car(5).. Utd Afrcraft&Trans, Utd Alreraft&T pf 3. Utd Biscuit (1.60)... Utd Cigar Stor Utd Corporation, Utd Corp ptf (3)... Utd Electric Coal( Utd Fruit (c4). Utd Gas & Imp Utd Paperboard..... U SCstIPctfs(2) U S Distributing. U 8 Distrib pf (7)... U S FornSec vf (1) U 8 Ind Alco (6) % US Leather...... U 8 Leather A (4)... U S Realty (5) . Smelt Ref pf 3% Vadsco Sal Vanadium (14) Van Raalte. . Vick Chemical (4) Virginia-Car Chem. . Virginia-Car 6% pf.. alworth (1. Ward Baking B..... Warner Bros Pic (n) Warner-Quinlan (2). Warren Bros (15)... Webster-Eisenlohr. . Wess O & Sn pf (4).. Western Maryland Western Pacif pf. Western Union (8).. Westngh Air Brk(2). vestngh E1&M (4).. 2985 eston Ei Instru.... 17 4 White Eagle Oil (2). « White Sewing Mach. Willys-Over (¢1.20 Wilson & Co Worthington Pump.. Worthington A 9 Worthington B Wright Aero (2) Wrigley Wm (4) RIGHTS EXPIRE Mont Ward. .Aug 26 661 Stand Gas rts Aug.31 323 Transcont Oil rts. .. Utd Corp. t of trading less than 100 sh: Sales— Low. rn Dairies B. . 10 'n Pacifie ( 10% 143% halfant. . ‘Withgtn (n). r Kelg(1.60).. 3 = p=mBannwona g See (A).... & Sec pf 11.20. Stewart Warnr(3%) Superior Ofl. Buperior Steel. . 1. of Amer ( 4 T- Telautograph (1)... T Tide Water Asso. ... Tide Wat Asso pf(6) Timken Det Ax(80¢). Timken Roller (3) Tobacco Pr (1.40). Tob Prod ctfs(1.40) Tobacco Pr A (1.40) Transcontinenta Trico Prod (2% ) TwinCity Rp T 135% 88 50% Carbon. . & Imp pf(5) 18t pf cfs 1.20 reign Secur ffman (4) bber...coeeae bber 1st pf... elt Ref (33%). 2082 20515 140 11 54 816 SBle 40 100 1215 h. 20) Dairy (B). 17 Motor (1).... Rock M S (3). Rich(A)2%.. Rieh(B)ec2 & Co. &Copf... orth Co. . Towne (4)... Truck &C. .. Sp&W (12%). Sheet & T (5) Radlo. . ¢ 4 81% 38 60 8 9 s&El..Aug 15 222 . 204 .Aug 15 204 6 Stocks on New York Exchange. 549,900 1.5 2.254.100 X a3 given in the above tabie on the latest quarterly or hi s tPart 33 in_preferred e regular rate. b Fivas) When earned. e Pavable ¢ Plus 6% in ‘stock. b BT stock. stock. KPlus 3% s in Wall Street Briefs NEW YORK, July 30 (?).—Production of steel ingots has shown a slight in- creass over last week and two weeks ago, Dow, Jones & Co. reports, with plants now operating at about 96 per cent of rated capacity, compared with 95, per cent last week and 95 two weeks ago. Independent companies are operating at 92 per cent, contrasted with 91 and 90, while United States Steel 1s. still running at slightly\petter than 100 per cent, c{)mpnred with 99 per, cent two weeks ago. The American Cynamid Co. has called its remaining preferred stock for re- demption at $120 a share as of October 1. Approximately 6,000 shares are now outstanding. The company recently of- fered to exchange one share of preferred for two shares of cless B common stock. Directors of the American Petroleum Institute have approved the code of marketing ethics as amended by the Federal Trade Commission, and have recommended that it be placed in opera- tion on August 31. It was re] day that William Cooper Proctor, presi- dent of Proctor & Gamble Co. of Cin- cinnati, will ask that he be relieved of his_presidential duties and be elected chairman of the board, and that R. R. Deupress, vice president and general manager, will succeed Mr. Proctor. Stockholders of the American Maize- Products Co. of Chicago have approved a 10-for-1_spljt-up of the company's common shares, increasing the out- standing common stock from 30,000 $100 par to 300,000 no par shares. ‘The Farmers’ m%pshgwufi Tel:l; Co., operating 5, s lons %Tfiu% Cashmere and Leaven- Associated Telephone Utilities Co. has been acquired by the | Heyden Che: 6,500 barrels daily. =y Commonwealth Securites, Ger rted in Wall Street yester- holders meeting has been called for Au- gust 7, to approve an increase in the authorized number of shares to 2,510,- 000, of which 500,000 will be $100 pre- ferred, 200,000 no par common «and 10,000 no par founders shares. Allen K. Brehm, who entered the banking business &s a runner and check-desk clerk In the Marine Trust Co. of Buffalo, N. Y., 10 years 2go, has been elected a vice president of the Continental Bank of New York. For the past year he has been an assistant cashier at the Equitable Trust Co. GRANBY MINING PROFITS. NEW YORK, July 31 (#).—Granby Consolidated Mining; Smelting & Pow- er Co., Ltd.,, reported a profit for the six 'months ending June 30 of $2,- 105,177 before depreciation, depletion and Federal taxes, compared with $1,301,214 for the same period last year. GERMAN BONDS AND STOCKS. NEW YORK, July 31 (Special).— id.” Asked Red Loan with drawin L el 00 | Dodge Corporation reports. This com- 2% 3 8833833338338 k83331183 35, 3'a8 & 48 pi mburg American Line North German Lioyd 4 Krupp 63 1921 Dusseldort 4s Prankfor! o1 A E G (German Ge Eleo) A E G (German Ge Elec) asunuss oBas NEW YORK, July 31 (8pecial).— Bid. Asked. Land Bank 4%s Nov. 1958.3i 88y 911 Land Bank 45 May 1958-38. 823332283 285822 228e! 8 ?gg-’- 3! s3838 i WHEAT PRICES SOAR. Day's Top Figures. CHICAGO. July 31 (#).— Wheat prices scored 8 maximum advance of | 412 cenits a bushel today and closed at | practically the day's top figures. Big Winter | wheat, about Ihnrrel.s t0 1,000,000 barrels of flour for . sponsible. mestic crop of wheat, Winter and Spring together, was authoritatively estimated today at only 797,000,000 bushels, against the Government fore. cast of 000,000 bushels a month ago, ;;l& 903,000,000 bushels harvested in Wheat closed strong, 3 to 41; above yesterday's finish, corn 2 to 35; up, oats 1'z to 2 advanced, provisions’ un- changed to a rise of 30 cents. BUILDING IS LIGHTER. NEW YORK, July 31 (#).—New building and engineering work con- tracted for during the week ending July 26 in 37 States east of the Rocky Mountains totaled $128,196,300, F. W pares with $190.775,200 for the preced- ing week of 1938. The largest job re- ported contracted for last week was an $18,000,000 hotel in New York City. AGWI EARNINGS RISE. NEW YORK, July 31 (#)—A net in- come of $1,765,389 was earned, by, the Atlantic, Gulf and West Indies Steam- ship Lines during the five months end- ’g‘fi, compared 4":::“ l'lofl.:l"n COrTespon period in The_earnings are equivalent to $741 a share on 199,512 common gmm.umlmtnmufiunlnthe 928 period. "2 | the opening today. s | the forenoon. | Market Closes at Practically the: export buying of domestic red and hard | 2,000,000 bush- | els, and with purchasing of 500,000 | shipment to Europe, was largely re- In_addition, the rota) do- | Favorable Trade Nev&s Has Bullish Effect on Many Groups on List. BY STANLEY W PRENOSIL.. Assoclated Press P: NEW YORK, July 3 ~~Hean of the public utilities, eevernlv:th:}y;x:lzl soared 4 to 22!, points, featured the resumption of the upward price gove- ment in today’s stock market. Buying orders wefe distributed over a fairly broad list but the continued stringency of credit conditions k h volume of trading. AE Rt Call money renewed unch ¢ 10 per cent. There was a heayy' flcllld'llx:i 3 of loans in the forenoon but fresh funds came into the market aroun . and money brokers held one flfg "ot a lower rate within the next day or two. Time money continued firm. Business and earnings reporis con- tinue favorable, the United States Steel Corporation making the best peace time showing in its history during the second quarter. Iron age reports that “the end of July has disclosed no marked recession from the high rate of steel output that has prevailed since early in the year.” Pillsbury Flour directors de- clared an extra dividend of 50 cents and Libby Owens Glass doubled the dividend paid on tHe old stock. Merger Rumors Help. Merger and stock split-up rdmors, though unconfirmed. contributed to the rise in the power stocks. Peoples Gas soared 2!; points to a new high at 385, Adams Express soared 20'; points and American Water Works, American Pow- er, and Standard Gas & Electric sold er & Light, Detroit Edison, American & Foreign Power and Standard Gas & Electric sold 4 to 6 points higher. Na- tional Power & Light and Utilities Pow- er & Light moved into new high ground. Some selling came into United States Steel common at the opening as a re- sult of disappointment that only the regular dividends had been declared, but strong buying support quickly ap- peared, and the stock was marked up in the early afternoon to 208 . General Electric soared nearly 9 points to a new high at 376%. American Can, Allied Chemical. Du Pont, Urfderwood-Elliott Fisher, Westinghouse Electric, Air Re- duction, Allis Chalmers and Simmens Co. sold 4 to 6 points higher. Commer- cial Solvents soared 18!; points and Adams Express 11. New 1929 highs were registered by Central Alloy Steel, Remington-Rand, Poor & Co. and Maytag. Delaware & Hudson ran up 5 points, | but Union Pacific. Chesapeake & Ohio, | Atchison and Norfolk & Western were | heavy, ! Recovery Resumed. The recovery in prices was resumed at Peoples Gas, which |ran up 377 points yesterday, jumped 1213 points on the first sale. Commer- cial Solvents advanced 6!, points, Allied Chemical 5 and American Telephone 234 on opening transactions. Early gains of ‘a point or two were recorded by General Electric, International Tele- ohone, Pennsylvania Railroad and Gil- i lette Safety Razor. United States Steel | common opened a point lower, presuma- |bly in reflection of speculative disap- | pointment that the directors did not declare an extra dividend. Buying of the high priced stock: brought out numerous new highs during Peoples Gas reached 385. as compared with yesterday's closing guotation of 36275. Commercial Solvents rose 19'; to 492, where it equaled its record figure, and General Electric, at 375'>, approximated its best price on an overnight rise of 8 points. | Adams Express soared 14 and Auburn Auto 9. Call money renewed at 10 per cent. MOTOR FIRM FORMED. BALTIMORE, July 31 (Special).— The Borden Motor Co.. Bethesda, Monr- | somery County, has been incorporated | under” State laws of Maryland. The | company, which is capitalized at $10,000, is authorized to generally deal in motor vehicles. Prances W. Borden, Sam W. Borden and John M. McInerney the_incorporators. "ENTERPRISE SERIAL BUILDING ASSOCIATION Tth St. & La. Ave. N.W. Money Loaned to Members on Easy Monthly Payments James E. Connelly James F. Shes President Secretary Mortgages Investments JAMES Y. PENNEBAKER Nat.5291 1520 K St. N.W. LOANS. Let us have your applications or 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. YOU GAN INVEST WITH CONFIDENCE IN OUR FIRST 69 MORTGAGE . NQTES PROTECTED by careful appraisement of train- men. <> SECURED ¢ on carefully selected and im- PIG TRON MOVING, NEW YORK, July 31 (#).—Pig iron interests here are reported' satisfied with the volume of business produced during July, ordinarily an inactive and unprofitable period. . CONTRACTS FOR SCRAP. NEW YORK, July 31 ().—Th¥ Vul- Refining Co. has contracted with the Continental Can Co. whereby for 10 m all tinplate scrap produced by inental_at its factories east of the Rocky Mountains will be received by the Vulcan concern. ‘ - proved real estate in Washington and its environs. INSURED against loss by fire by standard insurance companies. INTEREST CHECKS RECEIVED BY INVESTOR THE DAY THEY ARE DUE BOSSE=PHELPS 1417 K St. National 9300 Parking space in rear of office for our clients