Evening Star Newspaper, January 22, 1930, Page 14

A—14 ®x¥ THREED. . BANKS | ELECT OFFICERS Revival of Market Activity! Forecast by Fisher in Gotham Statement. BY EDWARD C. STONE. ‘Three local banks, American Security & Trust, North Capitol Saving d Chevy Chase Savings, organized for the year late yesterday. At the meet-~ following the annual meet- ing of the stock- holders, these of- ficers were re- elected, Corcoran Thom, president; B. F. Saul and Howard Moran, vice presi- dents; Prederick P. H. Siddons, secre- tary; Charles E. Howe, _ treasurer; David N. Houston, trust officer; Wil- {lam L. Beale, real Jstate ot;l;cer: div. ann Faber, audi- ;3\ ; Albert H. Shillington and Robert L. Flather. assistant secretaries: Wil- iiam W. Keck, Hans W. Ireland, Percy C. Brady, James C. Dulin, jr.; Edward E. Swan, Richard E. Harris, Harry P. White and Charles C. Boswell, assist- ant treasurers; T. Stanley Holland, Arthur G. Nichols, J. Eliot Moran and Earl G. Jonscher, assistant trust offi- cers; John E. Benton, assistant auditor. North Capital Savings Election. Officers and directors of the North Capitol Savings Bank were re-elected as follows: Theodore Michael, presi- dent; George Clagett, vice president; P. Henry Coates, cashier; E. S. Bur- gess, secretary; E. M. Michael, assistant cashier. Directors—Paul Allen, E. S. Burgess, George Clagett, P. Henry Coates, John A. Eckert, Charles W. Floeckher, Ed: ward F. Hall, Joseph A. Herbert, sr.;| Allen Hollander, M. L. Michael, Theo- dore Michael, Clarence Nohe, George E. Phillips, C. F. Sowers, Charles B.| Stewart and Charles E. Young. Chevy Chase Officers Unchanged. All officers of the Chevy Chase Sav- ings Bank were re-elected at the meet- ing of the organization last night and are: Prederic Ernst Farrington, presi- dent; Thomas W. Perry, first vice pres- ident; Joseph Burkart, second vice president; J. Ezra Troth, third vice president and cashier; R. A. Weaver, assistant cashier; Paul Sleman, coun- | sel; ‘Clyde D. Garrett. secretary, and | Samuel Peacock, auditor. Fisher Sees Market Revival. “When stockholders realize that busi- ne:ls going along all right we shnul§ have a resumption of the bull market, Irving Fisher, professor of economics at Yale University, said in New York last night. EI believe business is not going to be damaged as much as most people be- lieve. There has been no commodity price inflation, no excess of inventories and very little unemployment. The crash was in the market and not in ding the more distant future, he =T “T am very much afraid that in a very few years our prosperity will absorb our gold supply, and when it does, we shall have an insufficient base for our prosperity,” he said. “Unless people realize the shortage of gold and prevent it, either by design or accident, we !hll! have a falling price level for many years. < District Insurance Sales Up. Sales of life insurance in ({wl‘Dlsh‘Mr g ‘were 19 per cent large: Becoonber 2155, than in the. same just received from Hartford, Conn. was almost to the top of mflm best gain was scored by Jowa with 23 per cent, while Washing- State stood second with 20 per cent. The District of Columbia was third. Maryland showed a gain of 14 per eent, South Carolina was up 16 per cent, Georgia 13 per cent and Virginia 7 per cent. The average for the coun- try was 5 per cent. Florida fell below the average with a gain of 2 per cent and West Virginia reported 1 per cent improvement. North Carolina made the poorest showing of any Southern State with a decline of 23 per cent. Nevada was at the bottom of the list with a of 33 per cent. d’g%l tepul’ptestltes that December made a new hjgh record for the country, this in spite of the stock market crash. Predicts Thawing Out of Loans. Paul Clay, New York economist, who recently addressed the Washington Bomd Club, declares that frozen loans should be thawed out by or before the middle of March and says fl':ls s’hglil;d bring to light a large aggregate of - den buying power. Mr. Clay maintains that the credit situation should im- prove greatly in March, and adds that the bond market is now on an upward trend. The economist further s~yz that sny liquidation remaining in the stock mar- ket will be neither large nor intense and a new era of prosperity should begin in August. He fears the trade de- pression will continue into July or thereabouts, even thouzh approximately the lowest level has already been reached. He contends that the “easy profit era” is a thing of the past and that for a long period of years “pros- perify and profits will have to be earned.” Heard in Financial District. Motor output in December, as re- ported by the Department of Com- merce, was the smallest for any month in four years, and the drop was par- ticularly severe in the passenger car division. However, there has been a noticeable improvement in motor pro- duction since the first of the year. Charles G. Edwards, a past presi- dent of the Real Estate Board of New York and past president of the Na- tional Association of Real Estate Boards, has been elected president of the New York Real Estate Securities Exchange. to which Harry A. Seay of ‘Washington has been elected. “With underlying conditions sound. we believe that the recession in ral business will be checked shortly and 10815 42 1 279% R1% aR 105 Baltimore & Ohio (7) 116% Bethlehem St pf (7). ) 105% Bush T Bldg pf (7) 185 130 Case (J 1) (6). 105% Cent Alloy St pf(7). ’ 44% Childs Co (2.40). . FINANCIAL." Sales of Each — Stock and Dividecd Rate. 34% Abitibl Power & Pap. 1 69 Abitibl P & P pf (6).. 43 Abraham Strauss 20 Adams Expr (1.60 7 Advance Rumley. 15 Advance Rumley pf. % Ahumada Lead..... 77 Air Reductn (t43%) 18% Air Way El Ap(2%). 1 Ajax Rubber.. 4% Alaska Juneau. 17 Alleghany Corp. 90 Alleg Corp pf (5% ) 801 Alleg C pf (515)xw. . 197 Allied Ch & Dye(n6). 35% Allis-Chalmers (3) 17'% Amerada Corp (2). 4 Am Agricul Chem.. 18 Am Argicul Ch pf. 65 Am Bank Note (13 5% Am Beet Suzar. 27 Am Bosch Magneto 40% Am Brake Shoe(2.40) 4« Am Brown Bov Elec. 49% Am Brown B E pf(7) Am Can (4) Am Car & Fdy (6) Am Chicle Co (+21), Am Com Aleo(n1.60) Am & For Power. ... 10114 Am&Forn Pwr pf(7) 17% Am Hawalian S S (2) 0 Am Home Prod(4.20) AmTceCo (t4)..... 4 Am International (2) 90~ Am Locomotive (8). 111% Am Loco pf (7). 142 Am Mach & Fay 311 Am Metal (3).... 58 Am Nat Gas pf (7).. % Am Piano. Am Piano pf. 641 Am Power & Lt (31) 9 Am Ra&Std San 1% . 236 Am Rolling Mill (2). 15 Am Safety Razor (5) 1 70 Am Shipbuilding (8) 10s 62 AmSm & Ref (4). 7 35% Am Steel Fdy (3)... 13 110 Am Steel Fdy pf (7). 10s 112 99 Am Sugar Rfg pf(7) 18 Am Sumatra (3) 17 Am Tel & Ca (5) 1931 Am Tel & Tel (9). 160 Am Tobacco (8). 160 Am Tobacco (B) 115 Am Type Fdry (8)... 50 Am Water Wks (n1). 5% Am Woolen. 15! Am Woolen pf...... 4 Am Writ Paper ctts. 7 AmZinc Ld & Sm... 49% Am Zine pf (6) e 67% Anaconda Copr (7).. 46 Anaconda W&C (3). 25 " Anchor Cap (2.40) 18% Archer-Dan-M (2). ., 30 Andes Copper (3)...: 5% Armour I11 (A) 2% Armour Il (B). 6% Arnold Constable 25 AssoDry G (23%). 3414 Asso Ofl (2) 5 195% AtchT& S TR 99 Atch T&SF pf (5)... 161 AtlCoast Line (110). 30 Al Refining (12).... 3614 120 Auburn Auto (34)... 2 183% 183 3% Austin Nichols e s R 18 Austin Nicholspf... 4 30% 30 34 Auto-StSafRA (3). 1 39'; 39% 4% Aviation CorpDel... 13 & 43 15 BaldwinLoco (1.75). | 8 3315 8235 Sales— 25% 1% 8% 24% 161 33% i Loy 140 125% 118 22 28 27 2 2% 63 124% 1234 9 9% 79% 8 40 39 143 301 209 94y 1 107% 21 92% 107% 211 564 12 1 106% 106% 11 214 3 125 19 5% 14% 5% 32% 3114 5% 35 3 55 Bang & Aroos (33). 103% Bang & Aroos pf (7). 20 Barnsdall, A (2). 121 Beacon Oil. 415 Belding-Hes % 25 Bendix Aviation (2). 25 Best& Co (2) 78! Bethlehem Steel (6) 2 667 40s 110% 110 10 21% 21% 16 14u 178 6 23 36 . 5 3¢ 33 « B8 96% 964 3127 126% 17 Bohn A] & Brass (3). 15 48% 53 Borden Co (k3) 26 Borg Warner (4).... 213 Botany Con M (A)... 81 Briggs Mfg ceee 40 Bkiyn-Manhat (4)... 76% Bklyn-Man Tr pf (6) 7 Brooklyn & Queens. . 16% Bruns-Balk-Col..... Bucyr v Pl (23). 8% Budd (EG) Mfg (1). 21% Bulova Watch (3)... 29 Burr Add Mch (80¢). 31% Bush Term (g2). 91% Bush Term deb ( 64% 35% 3% 66% 65 857 10% 14 14 4 34 91 i 28 20 464 45% 404 40 107 106 12 112 3% 2 Butte Copper & Zine. 4% Butte & Superior (2) 17% Butterick Co. . 50 Byers (A M). 63'% Calif Packing (4)... 25 Calif Petroleum..... 73% Calumet & Ariz (10). 25 Calumet & Hecla (4). 45 Canada Dry G A (5). ‘anadian Pac (10) 11 1% 3 68 108 28 11 83% 19 297 1 67 6715 28 83 67 90 211% 203 5 B84 57w e bl 12 25 4 33% 31% 20s 108 108 5 4% a4y 13 20 40% 50% Caterpillar Trac (3). 72 Celotex pf (7). 21 Cent Aguirre As1%. 27% Cent Alloy Steel (2). 3 Century Rib Mills. .. 52% Cerro de Pasco (6).. 18 Crecker Cab (4.20).. 160 Ches & Ohio (10).,,. 4244 Chesapeake Corp (3) Chi & Alton 5 39 10 681 6%y 67% Chicago & N W (5).. 21% Chi Pneu Tool..... 101 ChiR1& Pac (7). 94% Chi R I & Pac pf (6). 25 Chickasha C Oil (3).. 264 59% 350a 98 914 26% 581 343 98 8% 26 Chrysler Corp (3)... 96 City fce & F pf (634) 7% City Stores (1)...... 34ls Cluett Peabody (4).. 2 38 3714 101 Coca-Cola (4).. 3 140% 140 44% Coca-Cola A (3) 7 49% - 49% 10 Collins & Aikma 2615 24% 27% Colo Fuel & Iron. ... 41% 40 65% Colo & Sou 1st pf (4) 52 ColGas& El (2)..... 99% Col Gas & El pt A(6) 16% Columb Graph (87c). 72 105 Columbian Carb (16) 2 173 18 Com Credit (2)... 1 25 28 Comm CreditA (3).. 1 i 70 ComCrd 1stpf (6%) 60s 79 20% Com Cred pf B (2)...100s 2 281 Coml Inv Tr (£1.60). 6 20% Comm Solvents (1).. 185 105 Comwith Power((4). 10 Comwlth&Sou(60e). 11 Congoleum-Nairn.., 143 17 1614 40 Consol Cigar (7). 4 487 48 90 Con Cgrprpfx wéii 20s. 681 67 10 Consol Film (2)... 45 18 17% 15% Consol Film pf (2).., 54 23 207 80% Consol Gas N Y (4).. 9214 Consol Gas NY pf(5) 45 Consol RRCubpf(§8) 2 55 56 % Consol Textile...... 5 1% 1y 12 ContajnerCor A120. 1 14 14w 3% Container Corp B.... oy 25% Contl Baking A. 4% Contl Baking B. 33 Contl Bank (1.20). 40% Contl Can (234) 46% Contl Insur (2.40). 7 76% 106 261, THl 3 106 %o 27 130% 130% 172 15% 14% 2 100% 100 THE Stock Compiled to 12:30 P.M. 25% 714 511 24 15% 32% L 120 275 2% R 25% 1237% 9% % 923, 107% 21% 5714 12 106% 2114 11 311 5% 15 75t 25 33 5% 2% 6% 32 351 36% 183% 4 80% 391 4% 334 % 110 21% 16 6 35% 34 967 127 65 35% 3% 664 857 11 14% 34 914 28% a5% 40 107 112 671y 28 83 2914 67 208% 581 71 25 31% 108 4% 40% 67% % 59% 34 98 9 374 140% 49% 25% 40% 2% TTh% 106 284% 130% 15 16% 48% 67 8% 100 55 1% 14% 4% Prev, Add 00. High. Low Clnse Close 10 22 56 111 106%; 1 5% 8% 71 42% 4215 431 26 32 5% 2% 614 31% 35% 185 374 25 39% 4% 33 3 116% 116% 116% I117% 66 6 6 66 110% 21% 14 6 36 3315 96 1261 47% 4T% 49 65 36 4 15% 15% 16 64% 85 10% 14 ' 106 112 89% 89% 90% 68 28 By 30 67 4 199% 199% 199% 199 200% 58 108 4 60% 59% 604 60 38% 1 212% 210% 212% 211% 116% 7 fm]l' 101% 101% 101% 139% 50 24% 40% 1% 29Y% 130 14% 16% 48% 6814 17% 20% 23 106% 105% 105% 105% 99% EVENING 1029 High 863 109% 918, Stack and Sales— Low 29% ElPwr&Lt (1). 98 ElPwr&Ltpf (1).. 55 Elec Storage Bat (5). 31 Emmerson-Brnt A 49% Endicott-John(5). ., 31 Eng Pub Serv (11).., 31% Equitable Bldg (233) 41'¢ Erle RR. eee . Erie B R 15t pf (4).. Erfe RR 2d pf (4)... 361% Fureka Cac Cl (4). .. 15 Evans Auto L($2%). 11 Fairbanks Copf..... 29% Fairbanks Morse (3) 28 Fed Water Ser A 2.40 2515 Federated Dept Strs. 474% Fid Pho Fire 1(2.60). 30 Filene's Sons. ..., 24% Firestone T&R(1.60) 3% Firestone T&R pf(6) 4415 First Nat Strs (234) 214 Fisk Rubber. & Fisk Rub st pf v 8 Fisk Rubber 1st pf.. 3214 Follansbee Bros (3). 33 Foster Wheeler (2).. 12% Foundation Co. 19% Fox Film A (§4). 23% Freeport, Texas (15) 21 8214° Fuller pr pf (18.68). 1008 5 Gabriel Snub A 65% Gamewell Co (5). ... 75 Gen Am Tnk Car($4) 421 Gen Asphalt (4)..... Gen Bronze (2) Gen Cigar (4. Gen Electrie (16). 5% Gen Electric (new).. 215 11 Gen Elec spec (§0¢).. 2 35 Gen'l Food Corpn (3) 25 % Gen Gas®El A (te2). 9 50 General Mills (3).... 12 331 Gen Motors (13.30)., 127 30 55% 12647112 Gen Motors pf (7)... 1 915 Gen Outd Ad vte (2). 80 GenOutd Adv A (4). 20 Gen Public Serv (b6) 70 Gen Ry Signal (5)... 50 Gen Refactories (4). 80 Gillette Saf Raz(n5). 10'% Gimbel Erothers. Glidden Co (h2) Glidden pr pf (7 Gold Dust pf (6). 4 Goodrich B F (4) Goodyear Tire (5)... Goodyear 1st pf (7). Gotham Silk H (232) Gould Conpler. 7% Graham-Paige. 46'4 Granby Copper (8) 321 Grand Silver Strs (1) 33 Grand Stores (1).... 9% Grand Union........ 30 Grand Union pf (3).. Granite City Stl (4). 321 Grant (W T) (1) 19 GtNectfsOP (a3%). 85% Grt North pfect (5).. 14% Grizsby Grunow (2). 42 Gulf Sta Steel (4). 12 Hahn Dept Stores. .. 71% Hahn Dent S pf(634) 91 Hanna (MA) 1st (7) 10s 1081 Hanna pf (new) (7). 1708 Hartman Corp B 1.20 Hawalian Pineap(2) Helme (Geo H) (17). 80 Hercules Powder (3) 45 Hershey Choe (5)... 60% Hershey Choe pf(15) 13 Houdaflle Her B (2), 45 Housed F pf +3.12 40 Household Prod(4). 26 Houston Ofl. .. £4% Howe Sound (1474).. 34% Hud&Man Ry (3.50). 38 Hudson Motor (5)... 18 Hupp Motor (£2).... 116 Illinofs Central (7)., 17% Independ Ofl & G (2) 315 Ind Motor Cycle..... 13% Indian Refining. 11% Indian Refining ct. .. 6814 Indus Ray(h5%stk). 120 Ingersoll Rand (4) 22 Inspiration (4)...... 12 Insurance Shars 45c. 15 Interboro Rap Tran. 2 Intercontinental Rub Interlake Iron (1). 4 Intl Agricultural Intl Cement (4) 414 Int Combustion 1814 Inter Comb Eng pf 65 Intl Harvester (214). 137 Intl Harv pf (7). Int Hydro El A (e2). Intl Match pf (4).... 18% Int Mer Marine ctfs. 25 Int Nickel of Can (1) 112 Intl Nick Can pf (7). 20 Intl Pap & P A(2.40). 9 Intl Pap& PwrC.... 91% Intl Print Ink pf () 61% Int Rys.Cen A pf(5). Int Silvar (6)... Int Tel & Teleg (2).. 25% Inter Dept St (2).... 12 TInvestors Equity(2). 39 Island Creek Coal(4) Jewel Tea (4) : 90 Johns-Manville (3).. 118 - Johns-Manv pf (7).. 1% Jordan Motor Car. .. 10% Karstadt (R) (102). 30 Kayser Jullus (4)... 3 Keily-Spring Tire. .. 26 Kelly-Spring 6% pf. 10s 16 Kelly Spring 8% pf..110s 18% Kelsey Hayes (2)... 29 5 Kelvinator Corp..... 39 75 Kendall Copnf (6).... 10s 49% Kennecott (5). 84 45% Kimberly-Clark(13). 2 80 Kinney (G R) pf (8). 208 3% Kolster Radio. 21 27 KraftPhCh (1%)... 28 Kresge(SS)Co(1.60). 103% Kresge SS pf (1) 531i Kress (SH) (1)..... 2214 Kreuger&Toll (1.34). 68 3¥1 Kroger Gr&Bak(n1). 33 16% Lago Ofl & Trans. 80t - Lambert Co (8). ..., 30 Leh Port Cem (2%). i 100 Leh Port Cm pf (7).. 10 Lehigh Valley Coal. . 28 Lehn & Fink (3). 80% Liggett & My (15) 80 Liggett & My B (15). 31 Lima Locomotive. .. 37% Link Belt (2.60)..... 40 Liquid Carbonie (4). 32 Loew's, Inc (3) 3% Loft, Ine. . 4 Loos 13 55 84 43 3 10s 1 2 30s z 4 1 3 6 Louisiana Ofl. Louis Oll pf (612)... 3 LouG&FEIA (1%).. Louls & Nash (7). 22 Ludlum Steel (2).... 76 Ludlum Stlpf (6%). 39% McCall Corp (23%)... 1 12% McIntype Pore M(1). 1 54 McK'port TP (14%). 18 21% McKesson & Rob (2) 5 55% Mack Trucks (6).... 5 2 110 Macy(RH)&Co(nt3) 5 35 Magma Copper (5).. 5 3 Manati Sugar. 20 Manati Sugar pf... 14 Mandel Brothers 19% Man Elec Supply. 24 Man Eley mod (d5). 514 Maracaibo Oil Exp. Dividend Rate. Add 00. High. Low. Close. 5414 541 STAR, WASHINGTON, Prev. . Close. 55% D. €., WEDNESDAY, —-1920—\ High. Low 210 129% Natl Lead (5).. 1 ¢ 1388 Natl Lead pt A (7). 116 Natl Lead pt B (6). @ 23 Natl Pwr& Lt (1). 1% Natl Radiator..... 111% NatlSupply pf (7). 70% Natl Surety (5). 234 Nevada Copper (3). Newport Co A (3)... Newton Steel (3). N'Y Airbrake (3.6 N ¥ Central (8)..... N Y Chi & St L pf(6) NY NH & Hart (6). N Y Ont & West. .. i NY State Rys pf. N Y Steam pf (8). Norfolk Southern. . , Norfolk&Wstn(t12). Norfolk&Wstn pf(4) 4 North Am(b109%stk) North Am pf (3). ... North Am Ed pf (6), Northern Pac (5). North Pac et (5). i Oil Well Sup pf (7) 8 Oliver Farm Equip. 4 Olivr Fr Eq pf A(6) Olivr Fr Eq ev pt(3). Oppenheimer Col (5) Otis Elevator (6) % OUIZElev pf (§) Otis Steel (214). . Owens 111 Glass(n4) . Pacific Coast Pacific Gas & E (2) Pacific Lighting (3). Pacific Oil stubs, . Pacific Tel & T (7). .. Packard Motor (1), 4 Pan-Am Pete B. Panhandle P & R. Paramount-F-L (3 Park Utah. . Stock and Sales— 98% 1461y 1% 220 3914 4z 58% Y 131 13 Pathe Exchange A. Patino Mines (3.89). Peerless Motor Car. Penick & Ford (1). Penney (JC) (23).. Pen (JC) pt A (6)... 5% Penn Coal & Coke. ... Penn Dixie Cemen: I'enn Dixie Cemt pf. Phila& Read C&1.. Phillips Petrm (n2). Pierce Oil. ... Pillsbury Flour (2) Pitts F W&C pf (7) % Pittsbgh Screw 1.40. P Rican Am To (A)7 P Rican Am To (B).. Prophylactic Br(2) Public 8. N J (13.40). 4 Pub Sve NJ pf (8). Pullman Corp (4) Pure Oil (1%)...... Purity Bakeries (4). Radio Corp Radio pf A (3 Radio pt B (5) 4 rph A. 586 Raybestos Man 2.60. Reading (4)..... Reading 1st pf (2). Real Slk (5)...... Rem Rand (50c). ... Remington 1st pf (7) i Repub Ir & Steel (4). Rep Ir & St pf (7). Reynolds Spring. ... Reynolds Tob A (3). Reynolds Tob B (3). Rhine W EL P (2.16). Richfield 01l (2).... Rio Grande Oil (2). . Ritter Dent Mfg (13) Rossfa Inc (2.20).... Royal Dutch (23.20). Safeway Stores(e5). Safeway pf (6)..... Safeway Strs pf (7).100s St Joseph Lead (t3). 2 St L-San Fran (8) 2 1 90 85 109% 100 94 381 133% 101 96 87 5174 41ty 11819 24 St L-San Fran pf( 4 Savage Arms (2).. Schulte Retail Strs. . 161 Schulte Retail pf(8) 830s Seaboard Air Line... 3 Sears Roebuck ($2%) 58 Second Natl Inv 4 Seneca Copper 2 ServelInc. . 16 Sharon Steel H (2).. 2 Shattuck(FG) (t1%) 12 ShellTranspt(a2.41) .100s Sheil Union (1.40)... 12 Sh Ucm v pf (5% Shubert Theat. ¢ Simmons Co (g3) 5 Simms Pet (1.60)... Sinclair Con Ol (2) Skelly Of1 (2).. Snider Packing...... Snider Packing pf. Solvay Am In pf 5%. So Por Rico Sug (2). Southern Cal Ed (2). South Dairies, A 135 . Southern Dairfes B. . Southern Pacific (6). Southern Rwy (8)... Spang-Chalfant 8 2% 1574 105 1624 109 15 Spencer Kelg (1. Spicer M{E. .. Spiegel-May-St (3).. 2 Stand Brands (1%).. 10 31 Stand Com Tob (1).. Stand Gas & El (3%) 433 243% 3% Dividend Rate. Add 00. High. Low. 15214 146% 139 116 347 31 JANUARY 22, 1930, 2:18. 152% 139 139 116 34% Sterlin, Sterlin, Sterfin, Transu Und-i United United Le: Le: Le: qdgadadads nwuRBRLRR R Vick CI Westn Wilcox Wilcox Woolw ‘Worth Wrigle: Yellow Young Zenith %A% 1201 120% 136% 135% 24% 25 Sales of B 1% I o 6 g 21% a 254 on 39 27 6% 6 Yable in'cash o 112 113% C us 2% in stoc 6 113% | §%% in_ stock. Stoc) Dividend Rate. Stand G & E pt (4) Stand Invest Corp... 1 Stand O of Cal (234). Stand OII N J (12). .. Stand Ofl N Y (1.60). Stanley Co of Amer. . Starratt (L §) Co(2). Superior Ste 4 Symington. Symington (A) 4 Tenn Cop & Ch (1) Texas Corp (3) Tex Gulf Sul (4).... Tex PC&O (b10%). Texas Pac Land Tr. . The Fair pf (1)..... % Third Avenue . Thompson J R (3.60) Tide Water Asso 60c. Timken Det Ax 180c Timken Roller (3)... Tobacco Products. .. Tobacco Products A. % Tob ProddvetfsA.. Tob Prod dv etfs C. . ‘Transcontinental Oil s given the latest auarterly or half yearly & nit of tradin TPavable in et FINANCIAL. k and Sales— Prev. Add 00. High. Low. Close. Close. 2 65% 64% 4 23 27 708 4 ESecA. .. 6 & Sec pf(1.20) g Sec cv pf(3) Stewart Warn (j2%) Stone & Web: 2 wanSFanBan axees e & W (1).... 1 Trico Prod (2%) 11-Fisher (5). . Union Bag & Paper. . Union Carbide (2.60) Union Pacific (10)... Union Tank Car..... Utd Alrcraft& Trans. Utd Alreraft&T pf 3. 4 Utd Biscuit (1.60)... Utd Carbon (2)..... Utd Cigar Stores. ... R 50% 33% 47% 14 Cigar Strs pf. 102% 6 Stores A.. Udt Stores pt U S Distributing U S & Forelgn Secur. U S & For Sec pf(6) . S Ind Alcohol (17). ather. .. ather A. . ather pr pf (7) Pipe & Fdry (2). Pipe 1st pf (1.20) Realty (5). Rubber. . . Smelt Ref (3%). Smelt Ref pf 3% U S Steel (7). emical (2%) Virginia-Car Chem. . Virginia-Car 6% pf Virginla-Car pf (7). Vulcan Detinning. .. Vulcan Detin A..... Wabash pf, A (5).... Waldorf Systm (1%) Walworth Co (2).... ‘Ward Baking A.... Ward Baking B..... Ward Baking pt (7) Warner Bros Pic (4). War Bros P pf (2.20) ‘Warner-Quinlan (2). Warren Bros (19). .. Wess O & Sn pf (4).. West Penn El pf (6). West Penn El pf (7). Dairy (B) B&, Western Union (3).. Weston El Ins (1)... Westvaco Chlor (2). ‘Wextark Radlo (2).. White Eagle Oil (2 White Sewing Mach. Ol1 & Ga: Rich (A) 2 Wilcox Rich, B m‘.’.' Willys-Over (1.20).. Wilson & Co........ orth (2.40)... Worthington Pump. Pump B (6).. y Wm (4).... Truck &C... Spring (3). Radio. RIGHTS EXPIRE Am R Mills. .June 15 % Col Carbon..Mar 11 N Y Cent. Rhine W E P..Jan 23 31 5% 2% Stocks on New York Exchange. 305,300 12:00 Noon. 1,135,700 1,613,600 2:10 P.M....... 1,799,300 in the above table are the annual cash leclarations. {Partly extra. tPlus ald last 2m Washington Ticker BY CLINTON COFFIN, Associated Press Financial Writer. Accumulating data on the national business situation is giving officials and industrial leaders more ground for main- tenance of their conviction that :the country has escaped successfully the sort of industrial depression which has been a sequel to most of the stock mar- ket collapses of the kind experienced last Autumn. Particularly does it seem to those most anxiously observant of the matter that the Winter is passing over without what can be termed & seriously distressing degree of unem- 1 t. pl”%’:“soe! seem that the Nation is emerging from the threat of business difficulty which was faced a month or so back,” Secretary of Commerce La- mont remarked in reviewing some of the reports reachin; him. *“We may have some emergency to face even yet, but it appears to be a fact that already two or three of the pivotal industries most and first affected are beginning to re- build working force: “Thus, Roy D. Chapin of the Hudson Co. writes me that the automobile plants generally are taking on more men, that that there was a 6.3 per cent gain in electric current consumption over the same month last year,” Mr. Sloan’s message said. “For December the cur- rent output consumed was 6 per cent frefl.er than that of the same month last year, while for the first two weeks in January the consumption is running ahead of that during the same period of 1929 in spite of some industrial re- cession. It appears that the estimate of $865,000,007 to be expended on new construction this year by electrical utilities, which was furnished President Hoover last month, will actually be ex ‘Will Study Trading Methods. TORONTO, Ontario, January 22 (#)—W. H. Price, attorney general of SAFE FTRST its ac S — WHAT IS YOUR ESTATE REALLY Can you definitely compuite Ontario, announced that two official representatives of the Ontario govern- ment will leave for New York City soon to study methods of trading in stocks and securities in the Wall street stock and curb markets. The government observers, Price said, will bring back recommendations for improvements in Ontario trading that will be incor- porated in a bill to be presented to the Ontario Legislature at its next session. TREASURY BALANCE. The United States Treasury balance announced today as of close of business January 20 was $104,576,710.96. Cus- toms receipts for the month to date ‘were $25,179,696.59. Total ordinary ex- penditures, $8,953,189.83. MORTGAGES WORTH? tual value if your invest- STOCKS IRREGULAR, BUT TRADING GAINS Market Readily Responds ta Better Financial News Soft Spots Appear. BY STANLEY W. PRENOSIL, Associated Press Pinancial Editor. NEW YORK, January 22—Bullish sentiment was more pronounced in to- day’s stock market, although there were enough soft spots scattered throughout list to give it the appearance of irregularity. ~ Extreme gains of 1 to 10 points established in the morning trading were fairly well maintained, with trading showing a moderate in- crease in volume, Business news had a more cheerful tinge. Reports of a further upturn in steel mill activity and a reduction in unemployment were buttressed by some good 1929 earnings statements, Freight car loadings in the week 4 enided T, ey substan- 4| tlal increase “above the week before, but were below those of the correspond- ing week last year, and the lowest of any similar period since 1922. The loss, however, was entirely in the ship- ment of grain and grain products, all other commodities showing a gain. Iron Age estimated that the two leading producers were operating at 70 per cent of capacity, with the average rate for the country around 67 per cent. It states that the week gu brought the steel industry a further gain in both demand and production, but points out that “improvement in business is not spectacular.” Farm implement manufacturers re- sponded to reports that leading manu-~ facturers were increasing their require- ments of steel. J. I. Case ran up 10 points and Advance Rumely common and preferred, International Harvester and Oliver Farm Equipment sold 2 to 31 points higher. # Chain store and merchandising issues attracted a good following, Spiege]l Ma: Stern advancing nearly 5 pornta, R H, Macy 4, and Montgomery, Ward, United Stores and Schulte common 2 points or mt:re“ Schulte preferred jumped 9 points. ROSSLYN STEEL FIRM HAS ANNUAL MEETING At the annual meeting of the Rosslyn Steel & Cement Co. the following directors were elected: P. R. Balley, Ralph. A. Drain, C..Emory Galliher, C. Galliher, W. G. Gailiher, W. C. Kiesler, Arthur J. Linn and Malcolm S: McConihe, The board organized immediately after the stockholders meeting and elected the following officers: Ralph A. Drain, president; P. R. Bailey, vi president; W. G. Galliher, treasure: Arthur J. Linn, secretary. The stock and bonds of this company are widely held in Washington. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Ca.| Londen. pound. iages Paris, frane 193 Brussels. nn Budanest. per.go. Prague, crown (nom. ws zlot; Copenhagt Oslo. crow, Stockholm, crown DIVIDENDS DECL;RED. NEW YORK, January 22 (£).— Rerular. Company. . fiod. able. 'S pe. Hidrs. ot Angus Co. . 21 Do. pt A (RS i ©000000000200000000ODOODDH s W Houston Ofl’ Co 'pf. .3 Merch & Mfg_P 1 Mer-Chap_& Scol H BT B R R P B e SETa SER Ch o W Pit-Boy i Trimont Drede A.. Veeder Root West PFire Ins 3 Trim Drede A. Westches Fire In: Assoc UHI . Nat Biseult ‘ne Sutherland Paper.22'%c Q Stock. L.2u% @ : B P Omitted. Can Vick Lid ot 3175 Q Mo Kan Pipe Trim Dreds Waverly DIl W A 37%c Due Oct. Triangle Merchants WILL BUILD —on long term lease for respon- sible tenant, on lot 139 feet on Florida Avenue to depth of 150 | feet, with 25-foot outlet on midway be- h Streets, ad- joining new Potomac Electric Building and Federal Storage Co.; First or Second Commercial Zone; nearly 21,000 feet. Brok- ers’ co-operation invited. - STONE & FAIRFAX 1008 Conn. Ave. National 2424 Unfailing Income... In 6Y1% Guaranty First Mortgage Notes and Bonds 1f you have money for invest- ment, choose these high character securities and enjoy positive safety and unfailing income. Guaranty first mortgage notes and bonds are secured on paying prop- erties in Washington and its suburbs and backed by our enormous re- sources of $3,800,000. Issued to yield 6% %, with short maturities. For those who desire, convenient monthly payments can be arranged. low as $250. ‘The Success Pl ments are in the type of invest- ments which rise and fall? Therefore, it is the part of good judgment to provide for your family with securities that are fixed. Our 6% FIRST MORTGAGES —are firm as a rock and the in- come from them definitely stated, with certainty of pay- ment. You can appraise such of your holdings at a hundred per cent, May be purchased jn amounts from $250 up. SAUL CO. 925 15th St. N.W. their extreme low point of operation was probably experienced during December, and that output is likely to run a little higher as the season advances. It is agreed throughout the industry that production is going to be matched more closely to actual sales of cars than ever before, but; in spite of the determina- tion of the makers to turn out no ma- chines unless a market can be found, output is increasing. “Even more stimulating is the con- dition reported from the rubber indus- try. Tire makers tell us that their crisis passed during relatively early months last year, and that in recent weeks a surplus of tires has been grad- ually reduced by dealers and branches. The result of this is a perceptible trend toward calling back working forces in Akron and other rubber centers. “Possibly by February or March the institution of building campaigns in in- dustry, transportation and public affairs will clear up the whole situation as to u;:rx;;;loymem. ‘We have high hopes of that.” Supplementing Secretary Lamont's comment is a telegraphed report from ectric n, Barnes, ch an of the nat - ness survey conference called by Presi- dent Hoover last month, as to electric energy consumption in the States. Indications are that electrical current requirements of the country SUBSTITUTE FOR SAFETY are_continuing to increase. “For November W tabulations show : = — e 20 Marlin-Rockwl t4% . 19 Marmon Motor (4).. 29 Mathieson Alkili (2). 45% May Dept Strs (n2). 5% Maytag Co 18t pf(6). 2 21 26% Melville Shoe (2). 2 1 by 9 9 Mengel Company ( s - 3 905120 86 Mengel Co pf (7) 9'4 Mexican Seaboard 20 Miami Copper (4)... 44 Michigan Steel (234). 2244 Mid-Continent P (2). % Middle States Ofl ct.. 3% Miller Rubber....... 59 Minne&Hon Rez(14) 10 Minn Moline Pwr. ... 52 M StU&SSM11(4).100s 27% Mo Kan & Texas.... 13 53 93% Mo Kan & Tex pf(7). 3 104% 46 Missourf Pacific..... 4 90 35 Mohawk C Mills (3).. 1 47 Monsanto Ch (g1%). 5 42% Montgomry Wrd (3). 117 1% Moon Motors 3 114 Mother Lode 3% Motor Meter G & E. 36 Motor Products (2) 21 Motor Wheel (3). 55 Mullins Mfg pf (7). 14% MurrayCor (b2 %stk) 40 Nash Motors (6). 14% Nat Acme (13%) 16 15% 15% 16% 10 Natl Air Trans. 115% 1157 116% 115% 9 % Natl Bella Hes: 183 182% 182% 180% % 140 Natl Biscuit (7)... 30 28% 20% 20% 65% NatBisn (p2.80). 7% T e TH 59 Nat Cash Reg.A(t4). 20 B6% 85 864 B | B %; 8 Nat Dairy ($2). 6 5% 5% bW & 51 Nat Distillers (2) that improvement will set in-during the Spring months.” says the Harvard Ffl.onomlc Soclety in its current weekly etter, The Advertising Federation of Amer- ica has selected the National Capital as the scene of the 1930 convention. May 18 to 21, inclusive, are the dates. H. F. Kimball announces that Balti- more chapter bowlers will be here Sat- urday night to meet Washington chap- ter. The teams and chapter officers | will have dinner at the Raleigh and { . the contests will take place at the | 6% Cuban-Amer Suga; Arcade. ‘The local pin men were de- | 56 Cuban-Am Sug pf. feated at Baltimore and hope to re-! 1 Cuban Dom Sugar. .. trieve lost honors. i 36 Cudahy Packing (4). 100 Curtis Publishing () Trading on D. C. Exchange. 112% Curtis Publish pf(7). Trading was moderate on the Wash- 6% Curtiss Wright Corp. 21 ington Stock Exchange today. Ten 13% Curt Wright Corp A, 7 shares of Riggs National Bank stock 104 Cushman's pf (8)... 10s sold at 515 and 15 shares of Commer- 21% Davison Chem. 4 cial National at 245. Capital Traction 109 Deere & Co pt (1), .. 208 soid to the extent of five shares at 88.| nog 1411 Delaware & Hud (9). 2 Ten shares of Merchants' Transfer & | 49 Denv&RG W pf.... Storage preferred came out at 100'%, | Devoe & R. A (2.40) .. and Peoples moved at recent levels. Bonds were in fair demand. APPLE SHIPMENTS HEAVY. ‘There were 11,846 carloads of apples shipped from Virginia the five months ended November 30, 1929, ac-{ 76% 18 Iaton Axle& S (3) cording to the Department of Agricul-|{ 39% 4 Eitingon-Sch (2%).. 1 ture. Greater part of the fruit was for 174 .50 FElec Auto Lite (6) a oo ‘ 18% 3% Electric Boat.. 5% Continental Motors 18 Contl Ojl of Del... 28% Contl Shares (1 70 Corn Prod (13%). 20% Coty Ine (g2) 24 Cream of Wht(12%) 15 Crex Carpet... 15 Crosley Radio (1), 374 Crown Cork & Seal.. 4 90 Crown W P 1st pf(7) 30s % Cuba Cane Sugar 3 3 Cuba-Cane Sug ctf: 5 Cuba Co.. Over a Third of a Century Without a Loss 613 1% 45% 114 115% 115 THh 6% 4% 13% 13% 108 108 108 108 31 30% 31 30 119% 119% 119% 119% 172 W2 172 172% 6615 66 313 T% 22% 2 45% 114 114% 115% 115 Denominations 14 Send for Booklet, - REALESTATE M E & GUARANTY RPORATION Capital Resources over $3,500,000 24 JACKSON PLACE Bk, National 2100 % 21% 22% 8% TR T T8 Drug Corpn (4) Y Duplan SHK(1)...... - 2 119% 107% Dupontd N deb (6).. 10 264% 150 Fastman Kodax (18) 3 % 36% 37%