Evening Star Newspaper, November 17, 1929, Page 91

"FINANCIAEL, WALL STREET POOLS BY A POOL MANAGER, AS TOLD TO JAMES ABELLE. THE SUNDAY STAR, WASHINGTO - b Range. 1929. o A nonm':. “' Low. Btocks and Dividens . _ Stocks and Dividend. o Stocks and Dividend. High. Low. u-l,mu:. Total stocks 3% CurtissAirprisvte T ¢ LakeyFdy&M(12.40) St RR'I:I Paper......... 20 14% 18y — 8% CHAPTER VIIL | people advised him that they ‘would Same period a year ago 8 Curtiss Flying Serv % Lane Bryant Inc (2). St ;,l’ s Paper pf (7). have to sell a considerable part of their 3 214 Curtiss Wright war ;. Lazarus F & R Co Salt Creek Cona(40c). Pools and Investment Trusts. holdings. On this occasion the reason e e i vidend. Wish. 11 Cust MaxWIning ... oo « t Laz F&R Cocofd. Salt Creek Prod (2). (When the Investment Trust came | was that the dividend rate on one of T P A B 8% Darby Petrol (1). 2 %[ 38 3 LefcourtRity(160)..... o A T into the arena the pool managers |the preferred stock issues of the trust 814 7 Aeronautical Ind Doew 17 Davenport Hos (1)..... w| 39 23 LefeourtRity pt(2) Shleeare oo 11 Jound theg had a mew animal to | was approaching and there Was no 8% 1% A’'nautical Ind war. 11y 7 Davis Drug Stores etf 178% 90° Leh Coal & Nav (4) Bt | Lontend 1with. Just what happens to | carned profit on hand to pay the divi- 1671 18 Aero Supply (1%) 4% Dayton Alrplane & Bn, 1| 186 62 Lehman (The) Corp.... SRy Roat Boace o) 1582 = 1) (201700 Unen the Investment Trust | dend. Tt would be mecessary o sell 4 2% 5% AeroS Mg, B (1.50). 310 Deere & Co ( s Schulte Real Eatate..... 13 121 121 = 3l G PoSone market is fold in this | some of the stock in which the pool was ~ 48% 141 Aero Underwriter 5% De Forest Ra 2% 5 e L (LR gt g ) | operating in order to realize a profit for 431 15 Agfa Ansco B4 De Hav rets old (s0c s S LY ME NI 1. s T ol wlil el (T td e Iways tell what the public | this purpose. After the dividend date 8% 18 Axtadnsco... B e w| 27% 12 Lily Tulip Cup Corp. Schutter Johnaon (A) & & A You can always tell what the publle | (i BoCPCuid depend upon further BT 17 Alnworth Cor (12 2 Derby Ofl & Refin. 3| S a0 GIk ieniDil HENR((E) Pl 44 44 44 -8 fwill do; you can SOTT I ou can mever | support for its operations from the B0 3 MR THE Ve . Bi4 Detroit Alreraft Cor w| 49% 7% Loew'sIncdebrt Sesman Bros (1) B0 4 4 = 4% the msiders will do; but sou can mever | SEROTL (O, 1 PTG ake profts, 40 12% Alrin Inc. vto con pf.. 12 42 Devoe& R, B (1)...... Loswss, Inc (war). BT e e e 18— 4] e Cynica) epigrany volcsd Pool Breaks With Trust. SEL 0% AMwABCkSIno, Mt E Lo v 0 R O S Selected Ind 117 4 9w Z 20| last Spring by an irritated pool man-| There was nothing for it but to sell N e 1T 9 Dix Gasa Utilities. .. Selec Ina75% pd(5%)... 0% 504 55t —141a | ager, serves to focus attention upon one | the stock for the investment trust, de- # S L S R e i 14% Doehler Die Casting SelIn75%prior(51a).... 59 497 52 — T%|of the most extraordinary situations|jaying the pool operation until’ this B ey X . % Dolores Esperanza by Sentry Saftey Control... 6 3% 5 - 1% | which has arisen in Wall Street history. | Jiquidation could be effected. By this -’ 15 8% Allegheny Gas Corp..... @ 43% 24% MacMarr Stores. .. Shatfuck Den Min. 10% T'5 8% — 1% | Pool operators have been forced to ad- | time the pool manager was in no mood - 7 21 Donner Steel... 17 Douglas Aircraft. 50 Dow Chentical (2) 90 Dow Chem pf (7). 62 Draper Corp (4) 33 Dress(SR)MfgA(3) ‘1% 1» MagdalenaSyndicate 38% 214 Mangel Stores..... 13% 9 Manning-Bowmen (B) 43% 37 MapesConMfg(t213) 37% 7 MarceniIntM(52%c) 224, T Mare WireLtdbs (62c). 12 10% 12 1 ShawiniganW&P(2) Sheaffer Pen (13). 9 39% 6% Shenandh Cp (b6%) a8 38 63 " 141 Shenandoah Cp pr(3) Sherwin Willlams(t4%) 69% 26 Sierra Pac Elec (2)..... 781 65 65 12 | just all their calculations, and some of | to continue the arrangement. In Te- 54 48% 50% — 4% | their methods, to meet the influence of \ turn for his assistance in marketing the the trading activities in the stock mar- | shares as requested, which gave the ket of the investrggnt trusts. trust a cash profit with which to pay However, before entering upon & dis- | dividends, the pool manager forced the cussion of the interesting, and some- | investment trust to tie up the Te- ° 141 3% Allied Aviation 28% 8 Allled Int Inv. 24% 10% Allied Mills, Ine. 110 23 Allied Power & Lit. 52 42 Allied P&Ltpf (3 80% 71 AldP &L 1stpf (3) % — + 2 L M 1 Allison Drug Strs A. 4 'Dubilier Cond &Rad | 38% 14 Margay (2). 5 15 16 -+ 1 | g3y, 12 Sikorsky Aviation effect of S% % Allison Drug Strs B. 120 Duke Power (5) 76% 28 Marine Mid 38% 28 36 — 4% 48y 16 Silica Gelct. “m"',':fm"::,‘fifr'u":‘ ",3.'.“,85.%&".”& 1 m::.mfi.go‘p;gf rfl;“:s Qfirfi.’i" a‘n.kse‘?‘ 83915 146 Aluminus Coof Am. 2 Dunlop Rub. ret Liny 56% 10 Marion €tm Sho 16w 15 15 -1 86 37 Silver (Isaac wish to say that I am offering no_crit- | months. Before the end of the six & 108% 103'% Alum Co Am pf (§) 3; !r‘;rhnr Harris (new). (4 2% 1% 1% 1% + 128 79% Sitver (1) Bros pf( fcism of the investment trusts. I am months he had closed operations in the 280 99% Aluminum Co, Ltd % ““l'-MTMN‘“‘" 1 2% M 2 2 1 631 460 Singer Mfg (2215). not an expert in this fleld and am not | siock, and decided to conduct his pool 41 20% Alum G'ds M (1.20). 1 uval Tex. S 2, | (A1, Mavis Bottling. 2 1% M-8 9% 1 Singer Mfg Ltd(30c ualified to speak of the merits of in- | thereafter without the assistance of col- 471% 31 Am ArchCo (3). % Duz CoInc A et | 101% 47 Mayflower Assoc 574 47 B0 — | 5@, 10 Sisto Fin Corp....... 3mment trust securities as investments, | laborators in the investment trust field. 22% 5% Am Brit & Cont. 1% Earl Radio Corp Wl 31k McCord Rad B (2 20% 16 20% 49% 25 Skinner Organ (2'4).... or of the influence of the investment| “It's a little too complicated for mi 28 5 AmBrBoFEIFdsh 1% East Butte.. 1| 67H B0 40 40 —10 | 260 161 Smith (A 0) (2) x trusts upon financial affairs in general, |simple mind, this investment trust ° 49% 16% Am Chain (3).. 22 Fast G & Fuel Ass 2| 24 1213 9% 12% + %) g1, 2 Snia-ViIsScosa........e.. PFrankl: p'} 'see o reason why conserva- | business,” he said. » 153% 991 Am Cigar Co (8). 87 EastG & FIAs pf( 1 Mercantile Stores (5)... 65 65 65 /— B%| 5o 33 Solar Refining (214) ... nkly, tment trusts should | The investment trust el i 84% 207 Am Cit PAL A (a3). 1 17 st States Pow B... 36% 10 Mer&MfgSecA (1.50) 18% 17 —2%| 19 11 Sonora Prod.... % iivaly mnaysddinvestimeny GustURhotl) ) tieinxestnenty Sk nmcetd 60%a 10 Am Cit P&L(B) (b10%) 31% 28 30 +138 | 31 7 Eastern Util Inv (A). 35 15% Mer Chap & S(1.60). 18 18% — 3 3% 1% South Am Gold&Plat. .. ot D, e 1 England. But gt i e [ 49'5 16 Am Colortype (13).. 25 184 18% — ®%| 32 6 Kisler Elee Corp. . 1% Mesabi Iron. . 1% 1% 60% 3% South Penn Oil (2)... ;’;":e:irfi Tala sl to I withithe by the 'opfl,mgn Sescaibed, 1t Bad Iarauintd 24 18 22 ~ 24| 189 50 Kl Bond & Sh (b6) 3% 28 30 -10 | 1081 100 Kl Bond & Sh of (6).. | 92 15 El Power Asso. . | 924 14 ElPower AssoA. 1a| 61% 10% EiP & Lopt war %W 103 943 Elec Pow & Lt pf S| 66 3t Kl Sharehldg (1) 24| 163% 45% Ei 8] 2%| 98% 81 Empi 83 44 4+ 4% | 110 95 Empire Gas&F cm pf(8) 99% 95 % L107% 0 100 - 7 62 26% Emp Pwrpt (2).. Southeast P&L (b4).. Southst P & L pf (7). 4 Southern Asbestos 12 SouthCalkid pfA (1% ) SouthCalEdpf B(114) SouthCalEd pfC(1%) So Colorado PwA (2)... Southern Corp. .. So Ice & Utilities B. So Pipe Line (1) Southern Stores (A) v $1% 18 AmComPA (30c3). a® zz AmCom I B (130c 11% 3% Am Comwith Pwr w a2 & Am Control.... 80 40 Am Cyanamid A (1. 6915 204 Am Cyan B (1.60). 20 34 Am Dept Stores. 114 106 AmDTNJcvpt(3) 331 15 Am Equities.... 174 254 Am ForPwr war. 224% 70 AmGas&El (31). influence of investment trust trading |cash resources, But only a certain pro- activity upon the pools and larger spec- | portion of its capital could be invested ulative interests in the stock market. in stocks and the amount varied as Let me recite the history of a 1929 | changes were recorded in the book value pool to illustrate the confusion into |of its holdings. And dividends could which many operators were thrown be- |only be disbursed from profits realized fore they learned to adjust their calcu-|in cash. Considerations of this kind 1ations to the peculiar conditions which | have resulted in the purchase and sale regulate the market policy of some in- | of stocks by investment trusts in ways ° . vestment trusts. which completely upset the usual cal 89 32% Met Chain Stores. . 83 50 Met dc to 50c Strs pf. 6% 2% Mexico-Ohio Oil. .. 1 34 15 Mid Royalty cv pf (2). n 51% 18 Mid West Ntil new 21| 565 158% Mid West Utn (7).. % | 123% 46 Mid Steel Prod(t.92).... 3 66 39% Midvale Co (3). Miller & Sons (2) 4% i w3 “l: 23% B Met & Min Inc(1.20). 1% n EEEEETCEL VL L L e ke 2 B 109% 73 Am Gas & El pf (6) 102% 73 98 — 4% 31 14% Emp Pub Serv (A) (t 19 4% 17 4 Southland Roy (1 Pool Assisted by Trust. culations of market operators. g 42% 6% AmInv,Inc,B.. . . 4 23 Emplyrs Reins(1%). 25 23 28% Mock Jud Vohrgr(2) go.:mw ler';y]"(ro) 2 Early this year & poolyoperawr of long To be sure, the unexpected activity of 24% 3 Am Inv. Inc, war 1% Engineers Gol L % Moh Hud P 1st pt(7 So West Gas Utl]. o 1 el yeatinens SN, BAEEEkaa Do 97% 70 AmLndry Mch ($4). 13% Eng P 8 opt .38 18% Moh Hud P 2d pt(7). Southw BelTel pt(7). experience discovered a stock which he | ways, to the advantage as well as the ls}: 202 Am Lt&Tract (10) 5% Evans Wall Lead. 104 5% Montecatini deb rts. .. Southw P & L pf(7).... believed to be wotth much m‘%;e th;ln g:;*:dnv;lcr:gg: glyroolst; ?hn xi'nan(uuré 53 291 Am Maize Prod (2) % 3% Mody'sISpt pf(13.75) . a g the market prices then prevailing. He uying by the investmen 3% Fabrics Finish AN Hevirkd oy D A obl fo foster activity In this{trusts has-“saved the market” for cer- Morison Elec (1) 59% 37 Am Mfg Co (3) Spanish &General (B).. 1% Fageol Motor. sl B P2 stock. a pool which perhaps should have | tain stocks. and prevented large losses 1i+11+ 01 Nehi Corp (1.30). 2%| 3¢% 9% Sunluvesting....... 15% 9% 11 — 4% handling. But at this critical pass the | October difficulties pretty well demon- " 16% B4 ANso Elec.Ind, Ltd 8% 1% Am Maracaibo. v 3 Wy v e | 2 Mountain&Gulf(.08) Spileg-M-Stn 15). 18% 5% Am Natural Gas. . 4% y::::?',l:vfi.‘uon Lta 5 4% 7 Mountain Prod(1.60) s?.n'x'—muw-r ;‘v((",s.“ had more capital for the operation con- | by the pools operating in those stocks. 70 5012 Am Phoenix Corp(3) 62 Fajardo Sugar 70 65 & Municipal Service. Stand Gas&El pt(7) templated. The pool manager was in- | Sometimes this investment trust sup-- 16% 2% Am Pneumatic Ser 10 Falcon Lead %o Stand Motors duced to begin activities with a small | port has come after the pools had given 132 25 Am & ScotIn (1.20 * y 1 " chuian BpHing (3) Stand Of1 Ind(1%). .. : 2 | “bank roll,” because of the fact that he | up hope of survival and some pool man- , 37 10% AmSolv Chem. % Bh N Stand Ofl of Kan (123%). 28 19 28 + 2% | succeeded in interesting an investment agers have had reason to be grateful for e 3 Amsoron e 3! ekl S LY o o tional Aviation. . Stand Oflof Ky(1.60) . 3% 291 36% — 3 | trust of large resources in the stock he | the “unpredictable” trades of the in- 100% 89% Am Sup'p Istpf (6)..... 954 894 91 5 784 50 Ferro Enam A(15%). 53 53 at Fam Strs (1.80) 1| 1241 1181 Stand Of1 Ohio pf(7) take a certain proportion of the shares | managed by important market in:erests 95% &2 Am Superpo pf (6) 188 82 85 —3W| 174 2 Fiat Stkdebrts. W 2 NEtIREn BIS gF (%) - | 189 49% Stand Pow & Light. .. - accumulated by the pool and to hold | have less trouble, and of less ag- - 3% 34 Am Thread pf (25¢). 312 3% 3 208% 20% Fiat Stk deb rtsrets.... 221 21 IcemEaa iz &) 105% 93% Stan Pow & Lt pf(7) 94 93% 93% — 2% | these shares for investment until a con- | Sistance, to pool operators. Trusts of - . 33% 2014 Amater Trading (1%) 20% 204 204 — 8%| 8% 14 Film Inspect Mach 1% 1 Nat Fd Prod BIbi% ). 192 110~ Standard Serew (19)... 124 119% 119% - 9% | siderably higher price level should be | this class tend to confine their commit- - 2515 1814 .Am Transformer (1.40). 18% 184 184 — 1| 30 4% FinInvNY (b8)........ T 4% e LA ot - e e, T O I L | eetabliohed. "Arrangements of this type |ments to the ‘stocks for which their -z 25% 8 Anchor P Fence($2). 12 9% 12 + 4| B 35 Fire AssoofPhila (215). 36% 38 R =y =B 4% 13 Starrett Corp. 24 13 23% — % | have been common for many vears be- | SPonsors are responsible marketwise. - 18 14 Ang-A votcod (35¢) 15 14% 15 + M| 155 985 Firemn'sFundIns(3). 9% 95 Nat Leather. - ol Biw 31 Statrett Corp pf 391; 31 38 - 4| tween pools and large individual invest- [And their activities can be predicted = Ml o Cia b ] I LI B e S1%0 B0 RIS T AW ) ... (803 590 Nat Bower & LEpt 2 2% 381 15 Stein (A) & Co(1.60).... 224 16 22 + 2%|ors or groups of investors. But.the | Without much dificulty. fl.; - :r’-‘:l“o'-(('];l:‘-r-;fii"dt 2:'4 N m;'/. l.g :ll;:ld-.}:goxp”f:"] D s S Nat Pub Serv (A) (1.60) 24% 20 24% + %| 99% 80 Steln(A)&Cocu ?mv. . 80 ;‘.‘!. 80 - :lt agreement worked out in unusual fash- Trust Cannot Halt Declines, A 53 43 AngusCo,Delpf(4).... 43 43 43 o7 '8 Fokker Alreraft.. 2 16 2% - Nat PubServ (B) (1)... 30 30 30 3t IougsteincommatioeIses... 1L AN AL 1) Sy asiwe XML sce) Whenthe inyeaton || T | Sancltdusensbed ) probibitin of S8 39 10% Apex Electrical Mfy 14% 11 14% + 4 | 38% 9 Foltis-Fischer Corp T R BN R B .. s w4 was an_investment trust. the elimination of severe declines in =, Er il Ll st T i 641t 55, 58 <10/ | ‘eeie it WardMotorCuRA v T | 1k e et om0 8 sUIRBIIMERICO - 48 N e For the first few weeks everything stock prices through the buying power . o’ o rizon; 10l . kL R 9 14 " 3 T zao‘: :n.on:go::r(,:op P il 250 27" Ly ;::2 1:'6. ;:::::Il::l!::nct.n.. 8 % : A N 6% + | 364 l'l‘ Strauss (Nathan) 15% 11 16% + 2% | stock and turning over a part of its | vestment trusts must adopt the same 4 1 11% 9, 10+ %] 218 10 Foremost DesryEred B 16% 14 16% + %| 34% 10 Strauss Roth. 10% 10% — 6% | accumulations to the investment trust.|attitude which other investment inter- 1M 8% 10 — 2% e Fo DR PIINe). i Nat Union Radio. 10 1% 10 36% 16 Stromb-Carl(t1. 17 17 — 9 |Then came the March break of the|ests assume in times of financial stress— 7 o 7 ik ekl b & Nauheim Pharm p 5% 2 b4 — 4u| 63% 26 Stroock &Co (3) % 26 26 —2 |stock market. By judiclous trading the | they must defer,action until the bank- )i e e, B, 4 Nebel (Oscar) (1%). 10% 10% 10% — | 34 2% Stutz Motor Car... 6% 26, 5 — 1% | pool manager prevented a drop of more |ing and general financial situation per- i Neet Inccv A (1.80). 15 It -18 —3 601 53 Sullivan Machinery 56 55 55 than 10 points in the issue he was|mits action-to support the market. The Nelson (Herman) (2). | 52% 32% Sun Investing pf (3) investment trust withdrew its support.|strated the fallacy that the investment New Eng Fuel new 111% 70 Gen Am Inv pf new (6) 7!', 70 T4% 4% 1 Atlantic Lobos Oil 1%| 26 11 Syrac W Mch B (1) 72% 35% Asso Gas&EI(A)(12.40). 47 35% 47 46 21 Franklin (HH) Mfg (2). 21 21 21 2 12 Sunray Ofl (40¢) ) 86% 3 Asso Rn):on., seses B & A 59 35 French LineB(2.54).. 7 87 87T - Rl by T 2 2 32 30% Superheater (new). Toks: w';a‘ er. : c"}n‘\nestm':rnt trusts, like C o 18" AlnteCEi (2 40% 30 30% —1IK| a6 - 18 Garlock Pack (1.20) 185 21% + Newberry (11) (1.10) 4 40 49 18 10 Swan Finch O1(30c). o . O Y 8w antic C Fi' (1.20) 1 2% 3} — % : y Newberry (11) (1.10). : Could Not “Average” on Decline. | waited for the storm to pass. 2 & Atl N it & St 3, [ o 20 4% General Alloys(80c). 4% B + Newberry J J)pf(7). . 90 60 %0 -2 37 265% Swift Internation (2) - ‘But while it is al ther im) bl = et ¥ % = M| 301 8% Gen Amer Investn. 8% 10% — NewBrasraoil .60 ™ 2% 2% 149% 121% Swift & Co (8)... | “I thought you were convinced of the _whi altogether_impossible - 24 X Atiantic Lobos. . 1 % 1 = New 60). y : bl e B L value of the stock and were buying it (Continued on Ninth Page.) e > 10% 2% General Baking. . % 3% A% y 6 o 8012 35% Atlas Plywood (4)...... 50 45 48% — 3| o W Eug Pow pf(e). L) - Y 3 9% 45 eral Bak pf (6) 60 45 85 vn Clock +1.87 19 18% 18% + 1% ¢ ‘ B4% 30% Atlas Portiand Cem (2). 35 30% 30% — 4%| 4 2 t New Havn Clock +1.87% . 59% 204 Taggart Corp. “7 5 15% 7% Auto Vot Machine. 0 ity <9 v g [ 8T 0L AE T OSCHRIe ar Bevtti =N New Jer Zine n (14). 1% 60% 67 — 4%| j0gs. 40% Tampa Electri ASHING rON STOCK EXCHANGE 29 v 9 % — 504 Gen El Germ r % New Mex&Ariz La: 3% 2% - it 4 % 16W Aut VM ev prpt (2) 1% 16w 17% — 2| gt 39, Gen ElCerm s o s2h 33" T gm] 36 22 Taylor Milling (2%). 2515 . 897 20% Aviation Corp Am. ame 20h 20— au| 30k D8 Gon e erp o i e [ 10% 4 Teck Hughes (30c) At Ll N YEAR 1929 TO DATE ' \ 1 23% 12 Aviation Credit . 18% 12 136 — %| Q30 Gen Fireproof (2) 30 301 — 2% Newport Co (2)......... 304 \23 28 =4 | 1091 101% Tenn ElPw 1stpf(7)... 103 102 108 + % a . 49% 104 Aviation Securi 160 1% 16 — 4 | 230 5. GenGask Elec A. R el B TR LI AL b L BT 1 _ | 27 10 Tennesses Products.... 12 10 10 —2 (Reported by W. B. Hibbs & Co., Hibbs Bullding, Washington, D. C.) -2 4315 30 AxtonFT.A (3.20)..... 38% 30 33% — 1%| 3a 10" Gen Indus Alcohol $0” amp g o UL INERQUIBSTMIRINNE). o r NS R b i~ Akl 38, T TeRCROILA tata 15 84 15 + 4 |AALES OCCURRING ON THE WASHINGTON STOCK EXCHANGE FOR 1028 US TO AND . 139 117% Babcock & W 121% 118 118 — 8% | 27% 10% Gen Lau Mch (1.60) 10% 12% — % R S0 A - 38 19 Thermold Co (2).. A -l ‘ 2 $ 4T N Y Invest (1.20)... 2 1 erm Co e - INCLUDING FRIDAY. NOVEMBER 15. s 22 1% Bahia Carp. 2% 2 2% —1%| 63 40 GenPrintInk (3%4) " A0 4] v N et T Zon Zex "3 | 12% 71 ThermCoeumpf(n). 80 o .15 115 Bahia Corp pf 26 2 2 — %| 39% 10% Gen Rity & Utilities 10% 13% — 14| a7 N Meh Ty % i1 A1 —om 28% Thir@ Nat Inv (1) i % 88% 60 Balaban & Ktz et (3).... 65 65 65 + B | 1218 60 GenR& Ut pf (8). Eri, O B B BRI e it 69% 18 Thomp Prod A (12) PUBLIC UTILITIES. Open. High. Low. Close. maturity. ' 100 80 Baumann (L) pf (7). 8080 W0 & B 66% 24 Gen Theater Eq vte..... 20 30 —1 | 368" 108 NYPwr&Ltpr(i).... 107% 104 104% — 1%| 32 5 Thomp Starrett. .. Anacostia & Potomac River R. R. 1at 55, 1949 96 96 82 82 6.63% 3 B0 463 Bancomit Corp (mew)... 49% 46% 48% — | 106% 98% GeorgiaPowerpf(6) 96 98 96 — 2 | 1147 111 NYTeIDL (6%).....-.. 116 112% 112% — 5 43% 34% ThompSta pf(3%x w Anacostia & Potomac Riy. R. R. gusr. 55, 1049 05 96 ~91% 91% 870% i@ 24 5 Bellanca,Aircraft. 9 6 7 =3 35 22 Gerrard (SA) Co. Le22 22 22 — %] '30i 12 Niagara H Pow(40¢).... 18% 12 14% — % 70 40 Tishman Real & Con. Capital Traction st 5s, 1047 ...... 103 88 90': 5.90% s l:‘; 140% gell Tel of Can (8) 158 llg‘A Hg‘«’ —12% | 25% 14 Gilbert (AC)... I N, I T 9% 2% Niag H Pow AWAr...... 4% 2% 41 + 4 5":: 15% ;::::zg%fi:u*gf;:;l g : :. ;eilw:anc 1st Ss, 1929 . 99% 100 991 99% 5.35% % 5 Renson & Hedges KR 50 36% Gilbert(A C)pf(3%4). 40 40 40 4 B%| o1l 3 Niag H Pow B war 8% Bk bW + Th . elephone of Virginia Ss, 1043 . 103 1031 98 a95% 241 12 Benson & Hedgespf(2). 12 12 12 148% 65 Cleanér Comb Harv (4). 65 65 65 — 2 el e 76% 40% Todd Shipyard (4)..... City & Suburban Ry. 1st 5s, 1948 . 96 95 80 6.5 127 19 Bickford. Inc (1) 19% 19 19 = %[ 19 10 GleanerC.H.n w.i(1). 19% 19 19 O e e LR 3% Tonopah Belmont Georgetown Gas Light 1st Ss, 1961 . 10215 102 96% . 341 28 Bickford Inc pf ¢ 20% 28% 20% 169% 80 Glen Alden Coal(10).... 114% 106 110% — 4% seeee 3N 24 B T 3| 48 2 Tonopah Min (18 Potomac Electric Power 1st 55, 1920 106 100 993 & 38 Blauners (31.20) 3 38 39 — w| 28 124 Globe Underwriters 1% 124 14% — 1% 10 B tew - el T TRE Transamer n (11.50). Potomac Electric Power cons. bs. 10 102 1020 98 Blaw-Knox Co (1). 6% 2 — BW| 28% 3 Goldberg Stores... 8 64 6% — 24 Fre s = Potomac Electric Power gen. 6s. 1053 101 100 104% 57% 10 BlissCo (EW) (1)..... 238% 18% 28% + 1%| "2% 3 Gold Coin. % % K 3 o Jee T %] a% 8% TransAirTransers Washington Gas Light gen. 5s, 1960 . 102% 102% 98 1 29% 3% Blue Ridge Corp. . . S 6 8 — 1%| 121% 382 Goldman Sa ¥ 42% 82 40 — 24| Joro B North Am Aviation. 7 4 O~ ] ahew R TG BUL DI E S A ‘Washington Gas Light series A 6s, 1933 103 105'z 9% 6% x&n‘: 2z;v. :lme Ridge cv pf (3)... a&t. gv. g: 4= g% 27% 3 Gold Seal Elec new..... 3% 5% — M| 26 B North Am Util See oy 5 o7 l:;‘- :3‘- ;:; g::;(flt:"::l H Washington Gas Light series B 6s, 1938 1061 107 101 so8% - i umenthal (S). .. 4 - 12 2% Golden Center-. ... L A% U 4% — W i 98% NorthAmUt1stpf(6)... 98% 93% 983% — % 3 . Corp. Washington Railway & Electric cons. 45, 1951. 91 91! 80 8.60% U48% 25 Borne Sorym (134}l 25 26 28 1 .16 Gotdfield Consolidat. a4k 01 AN Tt NaENCnUTan (680)5.. 1 T - 6% - Tk Dl e T TERCORCUPEELeL . Washington Railway & Electric gen. 65, 1033 102% 10312 101% swn 81% 33% BrasilTrack&L (2).... 41 38 39 — %| 5% . 36 301 30% — 8% 301 118% North Stat PwrA(8).... 143 118 1324 —10% el . MISCELLANEOUS. > # 5% 1% Bridgeport Machine.... 3% 3% 3% 19% 8% 17% Northwest Eng (2) 2% 17% 204 — 1% | (0% 18 Truns Pork Store: Barber & Ross. Inc.. 6l3s. 1937 9% 94 by #20 5 BrillCorpA (1%). 10 B 10 —4 | 41 164 Gramaphonercts (2.91). 31% 20 Novadel Agene (2) TLT 300K o opa) MO LI RDINERKCBTEREI0) Chestnut Farms Dairy, Inc 107 108 112% 1 BrillCorpB...... L 4% 1 4% — %| 384 15% Gramaphnesub rets.... o i8e TOERIL (8 Chevy Chase Club 1 3y 27% 14 Brillo Mfg (1.20) 17 14 17 +1%4 | 68% 23 Graymur Corp.. X 92 69 OhioBrassB (16).. I 50 23% Tung-Sol Lpf (3). e 1o 01t 32% 20 BritATcB(11.20)..... 28% 26 27% — %| 494 162 GrtA&PTeanv(5).... o LA LR o v . 41% 15 Ulen & Co Washington Cors. Title s, 1951 > J A i % 18 Brsieis s, 0 98 32 27% Brit A Treg (11.20). 27% 26% 27% — %| 117% 114 Grt A&P Tea pf (7).. 79% 64's Ohio Ol (+214) T0% 661 6B — 2 s s ft . ‘:“ 4% Brit Cel Ltd rets. . AT G A — WICIE e kR !!:,‘l’m 4 ,:x ‘:\, g::.w,z.: 1;:» ; :2 .}: ’2'.' iy ‘:‘ fl:‘m ;},"‘ "(-“n‘.’.":’r'fifi':,‘in, Washinkton Market Cold Qoulu.::)cl:: 961 96 4 7B Fen & W A(2.40). 17% 1T% 18 2 : Y 1 stocks r + 1 : i Y . 170k 55 BuckevePinl (1hheerr GL% B6 B9K — 1 S0 15 Greennerd Tap8Die. oo e e dow I T o 10 92 Unit Casbon bE PUBLIC UTILITIES, Value. fate” Open. High. Low. Close. * : 26% 22 B.N&EP pf (1.66) 287 22 28% — M| 175 10 Gref & Brother s Aot s, Sy 1 22 10 it Carr Fast(1.20) Capital Traction .. $100 $7.00 1057% 107'z 73 15 165 100% Bunker Hill &S (19).... 106 100% 101 9 | 97 _ 87% 3rief & Bro pf ( 0 . 47% 8% Unit Corp war N.& W. Steamboat 100" 12.00 ,’17% © 4 Burco, Inc........ 10 10 10 —2 | 17% 710 Groc Store Prod vic 281 24% Pac GRE 1stpf(1%).... 2% 24% 24% — %| 2013 6% Unit Dry Dock b S reint) = -y iy T o ’ ‘: a:" gurc»,llnc, war. . e a; ‘; q :; gg (G}roun:grl‘pr ((l'{ey‘) 268 12'% Pac Western Oil. . 18% N"r- 14% — 1 14 United Kastern. . Potomac Electric p:::: p‘:n' 100 550 §.‘»L fl: ifi:‘: ig;l: urco Inc., conv pf - round Gripper pf (3). 5% P ek 1 ) 44 B% 3% BurC Ltd rota (13 4 3 % - %| 96% 35 GuardiagF-Asen (2). - 100 st BantepeaOli: iiis st o -] e 2 Ul RN paswar Wathineton Bativay & i 1o Yoo S0 0 S0 sm 44% 14% Butler Bros (2). 23% 19 19% — 2% | 18% 4 GuardianInve — 1% 3 unt FL(new)w.i. 26 20 26 — 1% Init G . poriieors o - 8 4 Bwana M Kubw Cop 5% & ) 30% 24'% Guenther Law g f:.. 22 r.rlm?cflh “'(" 40)1 n 7 n % 21‘7:5 ;: : nit ?ll&(}?mnlfifi< . ‘Washington Railway & Elect. pfd. 100 3.09 99's 99% 93 23 % % 3 al 2.40)... = ™ nit Lt & Pw A(60). ¥ 19% 4 Cable Radio Tub vte 5% 4 5% — 1% | 209 115 Gulf Oilof Pa + 4% | pRv Davis (11.40). 46'% 41 41 — 1%| 125 32 UnitL & Pw B(60) c::,"‘;‘,""“' A 1000 250 A 1 oa% . % 3 3y 26% 10 Hall Lamp (12).. 5 — 2% 26 5 Parmelee Trans (1%)... 168% 12% 16 — 1 | 1245 85% Umit L & Powpt (8) o L e i b B% .o2% 1% 2 36% 16% Hall Print Co(t1%).... + Patterson Sargent 2% 24% 24% 21 B Unit Milk Prod.. dely 00 Ho402% 4021 402% ¢ B% 3% Cabl& W Ltd, pfrets... 4% 4 4% 5% 2 Handley Pppf(19). Pender(D)Gro B(i2). " » 10 80 66 Unit Milk Prod pf Commercia 8.00 265 265 258 258 C1T% 13 Consol Auto Mer ctfs... % % % 5% 1% Happiness Candy - PennG&EIA (1%).... 17% ;:‘i ;Zu L2 :- 41% 22% Unit Molasses, Lt g:f;:r’:: N ,:?.3 ::g :::, ::: :;{', g 45 3% Consol Auto Mercumpf 4% 4 4% — 14| 176 145 Hart Schaffer&M (8) Penn Mexico Fuel (2)... 20% ~ ! 53 33 Unit Porto Rico Sugar . Bk . 0. 3 x . % = o | b Liberty 700 255 255 210 210 12% 3 Canadian Marconi . 4 3 4 — | 204 14% Hartmah Tobacco. = Penn Ohio Ed pf (6) ke + 2wl 43 33 Unit Porto Rico Sug pf. . : 4 4% 1 Carlb Syndicate.. ST oY 1% — | 828 27% Haygart Corp.. = PennOhioEd pr pf(7). i 1% 17td Profit Sharing(1.20) Fanoc 120000 VI L S0TET 4 ! B2 29% CarnationMilk (1%).... 32% 29% 20% — % | 70% 14% Haszeltine Corp (1)..... - Pennroad Corp...... - 1l 12 5 Utd Profit Shar pf(1) Metropolitan 1400 410 412 400 400 2 21% 5 Carnegle Metals. ... 7 5% 6% + % | 28% 10 Hecla Mining (1)..... - Penn Pw & Lt pf (7).... %| 28% 1% Utd Reproducing (A). Rigss 15.00 550 61 535 838 88 48 Caterpillar Tract (3). 59% 48 B1% — 6% | 26% 3% Helena Rubinstein.... Penna Salt (16). .. 9% 1 Unit Reprod, B.. Becond 900 238 286 315 a8 B7% 20 Celanese Corp.... FLB1 N SR =y 41% 17% HeydenChmCorp(2). - PennWater&Pw(2%)... 86 70 85% — 8% 3 1 Unit Ret Chem A. Washington ceoe 1300 312 315 290 200 e 100 80 Celanese Corp pf (7). 85% 80 861 + Y| 344 23% Hires (CE) CoA(2). People'sDrugStrs(1).... Unit Shoe Mach (13%). ‘TRUST COMPANIES. . 198 6% Central Atlantic States. 4 614 ™ — 1% 9% 3% HollingerGold(80c). .. - Peo Lt&Pw A(a2.40) American Security & Trust .... 100 1500 452'; 475 420 420 5T 20 tPub S(A) (a1.75).. 36% 25% 324 — 44| 7% 1% Homaokla Oil - Pepperel Mg (8). Continentai Trust .. ........... 100 600 135 135 135 13§ ‘3% 12 CentStates Elec (140c). 24% 15% 21% — 61| 58% Perfect Circle (2). Merchants' Bank & Trust . 100 600 155 155 138 138 33% Hormel (Geo) 1% 47 6% Horn (A.C.) 6 64% 39 Hornk % | 106 98 Horn&Hardartpf(7) 15% Houd-Her cv pfA2%. 3 227, 6 Houston Gulf Gas 3 1 23 6 , Hudson Bay Min& 8. . 0 9% | 128 74 Humble Ofl (12)... . 4B% 44 48% 2% 32 10% Huyler Stores of Del . % b % 82 27 Hydro El 8ec (2).. 1% 1% 1% 49% 10 Hygrade Food Prod. National Savings & Trust . 100 1200 507 570 507 535 Union Trust 100 950 355 360 203% 293% Washington Loan & Trust 100 1400 523 545 500 SAVINGS BANKS. . ’ Bank of Bethesda 25 150 76 85 63 63 22% 4 East Washington 100 1300 480 5 g S g8 g Ol Security Savings 100 17.00 531 521 455 455 3.1% United States ..., 100 3000 600 600 600 600 5% Washington Mechanics 10 220 5 50 50 50 44% FIRE INSURANCE. « Perryman Electric Pet Milk (7). Petroleum Corp. & Philip Morris Inc. Rick(A)B&OCo pf1. Pie Bak of Am (A) (2).. Plerce Governr (1%) PilotRadTubA (1.20) Pitney B Pos n(20¢c) # Pitts & L E (5) 211% 40% CentStates Elcvpf(n). K1 79% 79% 90% 70 Cent States pf (ex w l 113 41 Centrifugal Pipe (60c). . 16 6 Chain Stor Development 13 M 12% 4213 9 Chain Stores Stock (6).. * 42 23 CharisCorp (13)... 210 130 Chesebrog Mfg (16) 69 44 Ches& Ohion wi. 5% ' Chi& Northw bdrts 4 1% Chief Consolidated. Int Sec cfs(2%). Gypsum (1.60) ...+ Lines.... Radiator (2).... Rubber Reclaim. Shares Fin. [(REEEA NN (3 = @ b 4 IR FLLLG® 27 . Imp O1l Can reg (50c; National Union 5 5 2% s 260 100 97% Childs Copt (7).. ' 107% 107 107% — % 1 Tiisia t10).. .. e 7 Pitts Plate Glass (2). P sl L R B et [l ol Pl LR g Plymouth Ofl (2). American ....... 100 1200 305 330 308 98% 84 Cities Service pf (6) 22" Imp OIl Can n (50c). I Polymet Mg (11)...... Corcoran 50 500 163 170 163 % 8 Cities Ser pf B (. - Pond Creek Pocahontas. Firemen's 20 160 40 4 40 “38 15 City M& Tool (1. Potrero Sugar. . 5615 40 City Sav Bk Ltd (4.17 9 Imp Tob Can (30c) Powdrell & Alex(3 %) 6% ImpTobGtB&I(1.25). TITLE INSURANCE. Colum B gy iyt Tt g G . 241 2% Clark Lighter, A. £ 26 Indiana PLn(t23%). Pow Corp of Can (1) e 118% 50% Clev Blec Illu (30¢ o - s Indian Ter Tllum Ofl, Premier Gold (24c. Real Estate 2 100 600 20 23 22 ;2 32 10 Clev Tractor..... - 19 Induskictfs(b10%). Prince & Whitely .. Utility Equities Title & Inv. Co. of Md. co 30 I - Pt ol o TS = 2 Inmnudiy B Bk M e 2 1334 T84 Vacuum OIL (1)..... 98 st S g L b e 9 ). b .. " E 3R, van Camp Pack. . T US. 3% Colon Oil........ + i v s Prudential Inv.... . i 4 an C: ; 7 1o% 2he. Colte atRiAim 2.+ - f; ]nlur':yl;::s(o‘;z(/en.)|0) Puget § Pw & L pt(6) : 21‘%-’ .!«lv, Veedet Root ?:Sx(ql)*.. :? :::::xr et T b e A B a 3 34 16 Columbia Pictures. - 12 Insuranshares Del. Pyrens Mig (80c). 81 66 Venezuela Mex Oil. T Chestnut Farms Dairy Nome 400 227 .227 3214 33 2 Columbia Syndicate 20 Intercoast Trad Co Radlo Prod. .. 6's 1% Venezuela Pet(20c) 2% Chestnut Farms Dairy pfd 100 700 106% 110 106% 109% 109 700 107 110 105 106 Columbia Sand & Gravel p 100 700 93 98': 80 86 Commercial National pfd. . . 100 700 104 105 103 101% DO PR ME 00 u06..... ... 10 ... @ 8 W N District National Securities pfd.. 100 7.00 1003, 102': 98 100 Pederal-American com. 130 833, 58t 35 3B Pederal-American pfd. . 600 103 103'; 98 98 X FesEal Bidfuee oo Bt 800 125 135 15 120 i 2, anston Monotype = 100 600 120 1324 \v\\'nxonpl.l W) Co 1 . Merchants' Transfer & Sts. com.. 100 1000 128 132 :;g ::: ayne Pump. . Me:chants’ Transfer & Stg pfd... 100 700 107 113 99 101 Mergenthaler Linotype ..... None 5.00 104 109% 100 102 —17% ¢ % Intercont Pete new. . Chevy Chase Dairs pfd. 80 Intl CigarMch(t4%) 65 Intl Perfume (1) 15 Intl Petn (37%¢). 3% Intl Holding&lnv Co. ... 5 Intl Products. . 19% Intl Projector. . 11 Int Safe Raz (B) (12% 2% Intl Superpower($1). . 281 Internatl Util (A) (3%) 3 Internatl Utilities (B) . 214 Internatl Utilities(war) Railway&Lt Sec(14). Rainbow Lum ProdA . Rainbow Lum Prod B % Red Bank... Red Warrior Reeves(Daniel) Reiter-Foster (40c) i ReliableStrs(h1% %)... 3 Relience Bronze&Stl. ... Reliance Managemnt. Repetti Candy. . Reynolds Bros Inc 18 7% Vick Fin Corp. .. 36% 18 Vot Mfg Co (2). Waitt & B, A (2). W 449% 210% Comwlth Edison (2). 12% 1% Comwlth & Sou (war).. 1031z 93 Commonwlith Prpf (6).. 687 101 Comwith Ut (B) (150c. . 21% 13% Commu Water Serv 1% 3 Comstock Tunnel. 44% 13% Consolidated Aircraft. 18 4 Consolidated Copper. 50% 12% Cons Dairy Prod (32) 160 71 ConsGas Balti (3). 1024 97% Con Gas, Balto pf(3). 38% 207 Con Gas UtA (2.20). 35 2% C trument. 124 Interstate Equitl Reynotd : 2 National Mtee. & Inv. Co. 10 5 . 2 9 21 10 8% 40% Interst Eqev pf (3). % Rhode Island P S pf(2 81 30% West Auto Sup A(3). 40% Peoples Drug Stores pfd. ..... 100 6.50 u: o 1;: > mg 5 m: = 39% 11 Con Retall Strs (1) 10 interstate H M(1.80) TRichfield OfICalif pf 98 85 Western MARypt(7).. 8§ Real Estate Mtge & Guar 1080 TR TS T T 11% 2% Consol Royal (60¢) 1 1lron Cap Copper. Richman Bros 108% 98 Western Power pf (7).. 101'g Security Storage 25 500 135 15 13 ma 44 15 Contl Diamond(2). 16 Irving Air Ch (L60). Richmond Radiator 1] 1% . 1% White 8 Mac debrts.... 8l Terminal Ref. Whg. Corp. . . 80 300 M 55 58 58 104% 85 Contl Gas&El pr pf (7). 21 Iron Fire Mfg v.t.c (1 Richmond Rad em pf. 41% 15 Williams, RC (1.40). 18 Washington Mech. Mtge. Co. com. 10 .80 11 11 T | 29 10 ContinentalOil.... - 9% IsottaFas.schni(1.05). 5 Washington Medical Bldg. Corp... 100 .. 141 143 100 100 4415 15 Coon(WB)Co(2.80) - 6% Italian Superpowr A.... 3 54 Woodward & Lothrop pfd 100 700 110 110 105 108 B8% 33% Cooper Bessemer (2) - 5 Ital Superpower war.... G 16% 4 Winter (Ben).. 8 shali ~ 1 52% 30 Cooper Bess pfA(3). + 9% Tonas & HRUMBUTE. v 9% 2 Woodley Petrol an S UNLISTED DEPARTMENT. 1% 5% Copeland Pred Inc A - 10 Jonas& Nempf (3). Rolls Royce, Am pf..... 2% Y T Ol &G ) Army & Navy Club se, 1981 b pwiby e s ol 4 = 150 Jones & Laughlin (18) Rolls Royce, Ltd rets. .. 14| 36% 184 Yel Taxi, 200 ,500 Cosmos Club 4'as (retired a - - a 3 2 Roosevelt Field, Inc. ... 1% & Yukon Gold Co. . - & e 14 KenRad TEL A(1%)... ,000 Commercial Club 1st Ss, 1 8 69 Crn & Rnlds pfA(8). 1% K % Root Refining Co. . 44% 13 Zonite Prod (1.80). 26% 13 20% — 6% |- 3,000 Metropolitan Club 4'zs, 1936 135 42 CosdenOil. 5 ~10 it Root Ref-ev pr pf(1.80) . sTOCKS gl i, 87 55 CosdenOflnf... a8 1% Kirby Petroleum Ruberold Co (4)........ i T e 178 Chavin-Sacks pfd 25% 12 CourtauldsLtd(70c). 2 19% Klein (D Emil) Ce Russek's Fifth Ave..... 1% 1% Asso Gas&El. & % Y- % 30/ @hr-- Bliisich Beswtog % ¢ 1 11% 5% Creole Petroleum. .. - 1213 Klein (H) pt pf (12 TRoss Stores Inc. “ i 1 Dow Chemical. Wy THgtiag o1 Depiriaanta) Sank o 1% % Cresson Cons (.08) * 25 Kleinert Co (2%). Rvan Consolidated. 2%4 % Pennroad .. %% % — %] a0 ‘Miler Tret Contred 10 F :;u §;:' ::::fl:r-w;\(e‘e‘lg: = :a 38 Knott Corp (2.40) Ryerson (J T) (12%) ... % A Trans Corpn. % & & | 138 Park Savings Bank 10 100 P 39% (3% = Kolater-Br(Am s} ety *Ex-dividend. tPartly extra 1Plus extra in stock. a Pavable i R e Pie ¢ Tot| am gl eraaay W coah or steck :‘“'.'.':‘Efim‘,',‘,,',',”:;,.'. ,:"i‘_:t?“';:tz. ;'5 f’-f.‘;,_ 40 Washioston, Savinss Bask it n T48% 25 CuneoPress...... 41% 9 Lake Superior Cory St Mary's Mining. annual paymeni. b i 33 Woodridge-Langdon Savings 10 60 P » X ’ : 3 e