Evening Star Newspaper, February 7, 1930, Page 13

FINANCIAL. THE EVENING STAR, WASHINGTON, D. C,' FRIDAY, FEBRUARY 7, 71939, PINANCIAL. | ERR A-13 “D.C.BANKELECTS || NEW YORK STOCK EXCHANGE ||SIOCKS IN RALLY | Cormew so BONDSzmoa excuunce] |]|IN|OR RAIL BOND Recelved by Private Wire Direct tc The Star Office. 5% i Low. # 100% 100% 1007 Which shows those stocks to be sold in odd lots only. i ] 1B Ctaon S N Lib3%s..... 817 9910 99 % A W f Sales of Each Stock cm:.m to 12:30 P.M. o contl n-k:n:pi . s lfl:: ::;‘o‘s‘a . AT: :xlx ;.‘ ‘13“ {3“ 106% 106% 105% Al High St A Commercial National Merger | Zox. . Divisend Rate. _Ada o0 e, |50 b0 GOl SRR s B SiE Market Is Depressed by Sell- Ui PacificGas & E1 5. 15 1020 101% 102 Il High-Grade Loans Also 33% 25 Abitibl Power & Pap. 3 T B g et O TR e Tl g : i us g L 992 Pao los 103 103 . A [ Is Followed by | T3 647 ABUIDIP &P pE (6).. 2 256 Gontinental Moten T ing Wave in Early EEEL e e oz dozs 10221 Well Bought in Active i s Followed by Increase 2| 234 Adama Expr (140).0 7 30 2114 Contl Ol of Del, US4 # i 98% 98 Market 23 11% Advance Rumley...; 4 " % ;7._. Contl Shares (1) a: 3 T o ORE! b4 ar e i i 22 Advance Rumley pf. 32 4 . 9 rading. F GN. 3 s in Deposits. 15 Ahumada Lead. . 8714 Corn Prod (13%) % 9 [} Low. 5 1% J Kl k) < . k2 h k Sales. High. . Close. ! 9 Alr Reduction (3).. 123% 125% 244 Coty, Inc (k2).. 3 4 88 88 94 . 2915 251 Cream of Wht(2%). 2 ) Alr Way ELAP(3%). 7 20% 28% 2815 29 i Orosity Runle ey s ; BY STANLEY W. PRENOS l 86% 96 96%| L ington Ar 96 BY F. H. RICHARDSON, BY EDWARD C. STONE. 4 1% Ajax Rubber. 2 § % 2 2 %4 43 Crown Cork & Seal, . 9 9%, 49 9 Associated Press m;_nml"zw':" 8 9 a6 Rem Rnd 6% war.. 2 96% | Special Dispatch to The Star. At a meeting of the board of direc- B s LH6 5 8614 Crucible Steel (k5).. 8 0% ¢ 9 5 2 Richfield Ol 63 44.. 4 95%| "NEW YORK, February 7—While 3 Alleghany Corp. NEW YORK, February 7.—After an Gt 9 g " . el tors of the Commercial National Bank e 95% Al CarpDE ¢ % 1020 o 110~ Crucible Steel pt (7) 240 ry te e 100% 100 100% q b Sinclair 011 6% high-grade issues, United States Gov- late yesterday Bates Warren was made | 262 255 Allled Ch & Dye(né A ChaC e s :::1t&;‘:‘:;e‘t";:“:;rgu;‘:’.gd“u‘::fi el o o o 08 s ot o eruinee ok iR oo acf doenaetis beata eneral counsel of the bank and Hay-| 122 121 Allled C&D p! ' % 9 CubaCo. 3 . us e 80% a0%s 91% 91% | generally were higher today the feature < ; 4 Allfs- 3).. 4 % 9 L today under the - | Australia 68 1965.. 17 58 = 874 9% 91% 91% y y den_Johnson s e J o T Cuban-Amers ; 1 ermdbiibe: l:“?mmp of the rall | vatralia 68 1967.. 6 8 88 < 18 102 1024 102% | of the market was the activity and Repbar: Jolinem 2 18 Amerada Corp (2)..s 1 A D Cohaty ramiie . . ik it ’:, : d""“d“, "hi;e 104% 104 So Por Rico Sug g eeb il ;j}i‘v’: strength shown by the junior railroad i = o % 7 Am Agricul Chem. 8 s gh ground for 9 " Stand ooy 3 % 1024 the Dank . ths 77 Am Bank Note (19)- 5 #1116 1lé urils Publiah pEcrs ! year. Most of the early declines of P o Stand OINY ¢4 14 96% 95k 95% | descriptions, ” capacity for sev- 7 Am Beet Su - i @15 Curtiss Wright Corp. 1 to 5 points had been cut in half or 10214 TennCop@sB44... 1101 -101 lo1 | By far the most active were Sea- e years. Attor- 40'% Am Bosch Magneto. . 13% Curt Wright Corp A wiped out by early afternoon, when a 914 108% Tenn ElecPow6s 47. 2 106% 106% 106 | board Airline 6 per ctnt, which touched ey Warren was 2 46% Am Brake Shoe(2.40) 50% 105 Cushman's pf (8)... 9 . Belgium 7s 195/ 4 111 Tex Corpcv 681944194 101% 101% 101% | a new high for the year in & 2-point formerly a direc- ? 2, 118K AmBrS&Eor (). 508 128 64 Cutler-Hamme 7 73y 2 O of pssues were selling 1 | pejgium s 1960, ; Transcontl Ol 8%s. 2 99% 99% 99%4| gguance, These bonds have shown 3 ¥ : % 83 n Bov . 4 1] o , e for in_ tne Conti- : G515 c0rs Am Brown B E pf(1) 1008 36 28% Davison Chem ; T s e United DrugBs63.. 6 93% 93% 93% | steady strength for three weeks, but e ol 1365 1176 AmCan (4) ... 350 136% 132% 134% P ) ok qus L AN | Boltvar1a sy . T R n e 17 oo 1o 100 | today's trading In them was heavy also elected b{m - $$: it g;“:;ii‘\';" - 9% 804 136~ Del Lack & W (17).. 3 1 Federal Reserve rediscount enlre“;e?s(tgl;- Bolivia 78 6t 6. Utah Pow & Lt 63. . 98% 98y | enough to indicate some special reason Eiigmn‘l' \g;gh;:f G 36% Am Chicle Co (12%4). 3 3 195% Detroit Edison (8) 35 | daY, the early action of the market was " Utllities Pow 6% 86% 87 | for the buying. e 5% 30% Devoe & R. A (2.40 35 | disappointing to many trad Th AL Vertientes Sug 7s.. 60 60 Seabosrd " h e Shes was' ‘formesis 33 26% Am Com Alco(n1.60) Ml ok 5 y traders. e aboard earnings have improved » '\N‘;M“y formerly S35 dim BERRI0NS)s . 1 amo! 14 | market turned dull on the decline after 894 894 { and the fiscal position of the company 2 o % L Walworth 6s45.... 35 Am European Sec : k[ i6% DameMines (1) ; bear traders had made several futil : 2 e 935 88% Am & For Power, % 93% 94 % 20% Dominion Strs ¢ 9 y 2% | attempis 10 unsetite he " ey e ’ War Quiniand 6a°39 6 6% 86% 86%4| was helped by a debt reduction late Co,, and since join- 108% 107 Am&Forn Pwr pf(7) 77 Drug Corpn (4). with the result that it was quick to e el e L 7 A in 1929, effected through floating ad- ing the staff of the David F. Houston, " % 15 Duplan Silk (1). = ‘Westn Union 68 61,130 101% 101% 101% Octonmgteial . Nae ouston. | “998, "19% Am HawaifanS S (3) L 581 v! o G S $ ;130 JVhen strong buying support ap- oo +| Westn Unlon 6%s.. 7 100 108% 108y | ditional stocks. Seaboard all-Florida 114's Dupontd N del 5 ’ tional through the merger has estab-| 30% 28 AmHide&Leapt... 7% e g 3 5 > ! 4 Eagle O5%.. 1103% 1034 103%| 65 and Florida East Coast 5s, which ugh th Shich| B9 55% Am Home Prod(4.20) i | ©all money renewed at 4 .5 N -ty - g e advice on Invements. " She 18| 39% 36 AmIceCo (10).. 19614 175% Fastman Kodak (18) ; . 199% |against 415 yesterday, while ime wmoney ¢ Wilys:Ov 6%asd.. 3§ 00 4% ofs | USually move with the Alrline issues, R 35% Am International (1) 75 43% ’ 367 277 Faton Axle &S (3) 5% | displayed an easier undertone, particu.. L Lo b L ORI L s oy o ol B st 2 Am La F & Foamit $ h 7% Bitington-Schild s 9% 104 | larly for the longer maturities. Chinese Gav Ry : i 2100 100 100 | There was moderate buying of South- ington and has Bankers Association | 105 97 Am Locomotive (8) 41 Eitingon pf (6%). Canadlan Pacific was the leader of | Colombla 6sJan 61. 4 3 S&T s 26101 100% 100% | €T Railroad general 4s, Boston & by the DistristeBamkars Assoelation | 330y 31% AmTioco Bt (1).s 414 Electric Boat..... the railroad group, soaring 147, points ;e h e i WU Maine 5s and Chicago & Eastern Iili- and the Bank Women's Club, in whic ‘Am Mach & Fdy (7). 81 Elec Auto Lite (6) 3% | t0 216%, In anticipation of the ans nofs 5s. she is one of the leading ivm‘s- f the % 106% EI Auto-Lite pf (7 nouncement of a 4 to 1 stock Split-up. 3 RAILROAD. Gains also were made by Rock Island Wade H. Cooper, president of the 3 b 497 Bl Pwr & Lt (1).. Lackawanna, Erie, New Hayen New 9 A~ 714 77| 478, Denver & Rio Grande Western bankSROIS L e OtRt thint 1i€ W % 8 15| 109% 106 ElPwr & Ltpt (1).. 09 York Central and’ Norfolk & Western . 90 9o |55 Erie general lien 4s, Misouri-Pa- e s e i 24 92% 904 91 9 1261 EP&LDS 60% nd 4.20 38 138 13 moved up 2 to 4 points, all at new 1930 | Danish Munic 85 A. 110% 8 s | Clfic 4s and 5lis, Western Maryland which the recent consol :1;1;‘1 “Com. | 101% 100 AmPow & Ltpf (6).. 4 100% 100% 100% i 69% Elec Storage Bat (5) 17 12 |Peaks, in expectation of important de- | panish Munic 8s B. 109% 109% ‘Atchison gen 4s 4s, Texas & Pacific “C” 5s and Atlantic, O L o Ja e (OO | cinsny 800 AAETEICLTEINE (5). 84 834 831 & 11 Elk Horn Coal pf.... ; | velopments ~concerning the Eastern | penmark 4%, 5 914 Atch deb 4148 43... 15 140 139 140 | GUIl & West Indies 5s. mercial Natlonal has workel oAt it 3014 Am Ra&Std Si . 112 35% 35 3 39% Eng Pub Serv (11).. i railroad consolidation program. Denmark 5%s 6§ 100% Atl & Dan 15t 43 43 0 Rallroads also held the most atten- made the flmh"d:n";’t‘smfi"“;“ Cotn 20% Am Republic: 2 ) 24% 25 9 94% Eng Pub Sve pf (5).. 9 - Detroit Edison soared 11 points, Stone | Denmark 6s. 1043 ¥ ¢ tion in the prime list. Chesapeake & e e s D ihSsvom-| 1% 80% Am Rolling Mill (7). 20 90% 9 39% Equitable Bldg (234) 1 & Webster 8, and National Lead, Com- | Dutch East I 4 102 g 9214 92% | Ohio general 4145 were up a point and rfi;;rnal hT:flr:_\ns aw l:;]:::; Shout | 63 59~ AmSafety Razor (5) 61% 62 564 ErlonR.------;- 1 - monwealth Power, Peoples Gas, Porto| Dutch East I 6: 102% 99 99% | there were also gains in Canadian Na- s emm;r: r 17% Am Seating (2).. 201 20% 2},% !,;r}l!ég;;w;‘“))- Rican Tobacco, American Woolen pre- | g1 Salvador 8s 4 105% 106% 4 102% 102 102% | tional 5s, Canadian Pacific 4s, Union month ago. 1 69 S 6% 16% 769 !6% R 4 ferred and Gillette Safety Razor rallied " 106% £104 103% 104 | Pacific first 45 and Baltimore & Ohio Houston at Insurance Parley. " 424 Am Snuff Co (13%).. 42% 42% Bure! 3 4 to 6 points, the sharp rebound in the | Fiat 78 war “Y|B& Ot Imp 2 109% 109 109% | first 45, Stock market strength was re el FrotetRLIGEE o Ao tie 445 Am Steel Fdy (3).... 11 49% d48% 4815 18% Evans Auto L(32%). last named following official denials | Fiat 78 ex war ogy, |B&OPLEWY ds.. 12 93 = 92% 92% | flected by advances in rail convertibles, s “of Agriculture and later | 112% 110% Am Steel Fdy pf (7). 70s 113 113 113 7 20 FairbanksCopf..... of rumors that the production program 4 1075 | B&OSW 68 50.... 24 102 101% 101%| The market generally had much to ey o ihe Ereasiry in the Wi | 494 “46% AmStores (2)... 1 484 484 48% 20 Fash Park Asso (2% 2 for the new razor had been delayed. 15% | BAnE & Aroos 4sb1. 5 861 86l favor a general advance. Money rates vrretar,v_o‘ 5 e itine o d| 87 60% AmSugarRfg(5)... 1 65l 654 65% 59% Fed Lt & Tre ($1%). In the early selling Simmons broke ¥ . Boston & Maine §s.. 22 98 were definitely lower with the reduc- som Admin A, s I ot | 107 104 AmSugar Rfgpf(7). 1 106% 106% 106% 1067 73 Fed Motor Tr (80c).. 9 9 4% points 1o & new 1930 o st 4a 121%| Braway & 7th Av 63 " tion of the New York Federal Reserve D R e | 25% T0s i SEmUtw )\ 20 25% 244 24y % 3215 Fed Water Ser A 2.40 4 which contrasts with the 1929 high of | German Bank 68 3. s 88% 6% 9115 S % | rediscount rate to 4 per cent. The fvfi‘x:xgdurlx%xd *ht the Mayflower, Mr i LY =l R L oy 1o 188, but rallied to around 75. Indus-|German EIP 6%s 91 s day’s total of new issues was only $20,- & " ¥ 'obacco . 2 4 10 Fire o Houston is now president of the Mu- | 3562 197 A Tobaces (BY (33, 90 2o Some 220 il sl trial Rayon dropped 12!z points and | German 7 107% 000,000, consisting entirely of a Louis~ tual Life Insurance Co. of New York| joai; s814 Am Water Wka (n1); 42 1004 97 & 97 H 28% Firestone T&R(1.60 Vulcan Detinning 11 on small turn- | Ger Gen Elec 102% | Bush Term con bs.. ville & Nashville Railroad flotation. and came here to attend a meeting of | “131, 714 Am Woolen, . 18 16 3 overs, Greek 631963, 86 | can Nat4ysse 6 The municipal market was dull, with 2 124 16 5 8015 Firestone T&R pf(6) 99% i 3 about 100 officials and agency mana- 5 19%, : * 2o : 5 5 Canadian Pacific shot across the 220 | Hait16s. .. Can Nat4%867..00 1 no issues out today, and bond houses Zore.” The sessions continue thiough 10- | s e AT moo Braperss 9 9% L o R : i | mark on the official announcement of | Hungary 7% 101 8 92% 9% are etill finding the distribution_ of orrow. Naturally the head of the| 80 9% Anaconda Copr (7) T 8% 13 Fisk Rubber 18t pf. . the 4-for-1 stock split-up. Other high- | reaty 7s. 98% . 67 100% 100% 100% ( recent offerings a little slow, even after mpany is taking a very active PATt| 53 40 Anaconda WAC (8) 526 5274 12% Fisk Rub 18t pt ev. . grade ralls also rose materially, includ- | Talian 2 94 « 1 113% 113% 113% | prizes have been marked down. Much in the mectings. | 46% 35 Anchor Cap (2.40). 4% 45 s % 37 Follansbee Bros (3). Ing Chesapeake & Ohlo, Union Pacific, Vikiseai 96 Rt b o) “T" of this hinges around anxiety over the Speakers on the program include Wil- | 363, 31% Andes Copper (3) 60% Foster Wheeler (2).. e pore, Lackavanns & Western and | JAPAneES s .00 2 102% 103% 7 83% &4 |Chicago situation. Yam A. Hutchinson, second Vice Presi= 27w 24% Archer-Danch (2). 159 Feoration o A 4| Northern Pacific. Despite the strength | Japanese 6%s. ... 27 Eoe'te 36 101% 101% 101% Vol e e L'l | ot g s e oot . g 3‘1;125 {\‘Ii’,feé"";f..‘" "‘é ];.d‘imzilndtus. Ki o &To'l 68 ct.122 95%. 95% | Comt pac sor 5 99 one don second vice president and general coun- 644 5% Armour 111 (A 387% Freeport, T 4 ! » IS vy, eneral lectric Teuger: '0’] 'S b+ Sel and Dr. . Maxwell Foshay. second 4 ) ¢ 3 ek e " 5 and United States Steel dipping sharply. 14 108% 108% 108% | Cent 9 102% 102% 102% Preferred Stocks vice president, all of New York. 091¢ - GRTIewelll o (5) e o The market closed irregular. Total sales 103% 108% 103% | Ch: H gg/- % ¢ The compariy Teports fine progress in Arnc 2 7 6 S bia sl L 5ot 18 approximated 3,400,000 shares. 89 gs% g9 |Ches&O m-!‘g oA e year k ring e year es- rtloom pf (7). §0s 100 100 4 99Y% 99% . tablished its highest yearly record in| 428, 3614 Asso ApplInd ( 6 42% 42 42 : :gn g:: :: !x*r;'kxg-(rsl)u) ,m; 24K Ch & O 4%s B 1995, 58 BY GEORGE T. HUGHES. volume of new business written, and| 34% 28 AssoDry G (234) 2 341 34u B4% 4914 Gen Asphalt (4) Markets at a Gl M B MG G kot iy on December 31, 1929, the total of in- AssoDG2dpf(7)... 2 87 86% 87 . % 25% Gen Bronze (2) ance e n|cB&Q4nsTIB. 98. '| . The capital structure of a corporation surance upon its books was $4,208,-| 37% 33% AssoOll (2)........ 80s 35% 3! 351 26 Gen Cabl 5 % Nord 6%s. .. 104% 104% | Chi&E Il gn 58 51. 77% | has an important bearing on the invest- 774,546, % 9 9 al Norway 53 1963. 97 97 | ChiGt West4s69.. 6 642 84% | ment, status of the preferred stock. If : p— g 3% 10315 1033 2 (o EW YORK, February 7 ()—Stocks | Norway 6% 8. ..« 101 101% | ChiM&StP4348C83 94% | there are no bonds, no funded indebted- Farm Wages Report: - 170 166 AtlCoast Line (110). 0 " 119% Gen Cigar pf ( 3 irregular; Canadlan Pacific advances on | Norway 65 1943. AT 3 934 | ness and no charges of any kind zhead The supply of farm labor was 15 Per | '80v, 5% At G W hogicn L Tk Sl e ClemepricD) i jSplit-up. Bonds firm; Seaboard | Norway 6s1944.... | 1o2% 924 | of the preferred, that issue obviously is cent greater than demand on January | 6214 59 At1G& W L pf (4). 62% 621 6 11% Gen Hleospec (8 A“’g-"t‘ and all Florida issues buoyant. | Norway 6%s 1952. . 4 1024 102% | CMSP&Pacad)! 74% [more valuable than if it is preceded by L o eient Tiwainy Offhvn || 205 Jbic ANl Renning (13).... 280 bk 88 35 98v| 3 B o) Coniregular; Pennroad reaches new (o ione gov 53 B8, 88% 88% | Cpt & NW gen 4s... 20 _ 89 |senfor securities. This question has to Wage rates in all parts of the country, | 104% 101 = Atlas Powdr ot ()., 500 104" Tog 105 4 6414 Gen GReSELA (red), '3 an cion cxchanges irregular; | o yen¢ Devimt 6288 974 9TH | Chi N W 43482037, 10 96. 96 [be looked into before the significance of Bureau of Agricultural Economics re-| 237 = 175% Auburn Aute (&) 3227 241 22 1041 GenG & EELPLA (1) > BoDch fraiio 8 Bew 1680/ low, | Cotton ed 103% 103% | ChI&NW conv 4%8 140 100% 100 100% [the number of times the preferred divi- ported in its January statement on| - 41 | 9u Austniiio T A% Ak 0 1174 GenG& BIRTA (). i 119% lower: liquidation. Sugar steady; Cuban | Paris-Ly- 06 108 |Chid& NW 6348 1 108% 108% 108% |dend is earned can be understood. farm labor and wages. 8 - MRutosalaN.........., 98 +5 6 b 4 904 Gen Mills f (8) 3 g” | SUFROFS T Comeetenty; " Bramtlinm seltings [ E4FIS Ky BESIAN i CMENW IS 2 100% 100% 1003 [ When there are heavy prior charges Farm wages increased during the first | 44% 37 Auto-StSafRA (). 8 46 45 4o 5 3714 Gen Motors (13.30).. F CHICAGO, February 7 UP)—Wheat | oo s soans o A% ChiRI&Pgm 2 s 8 preferred dividend may be covered }g ;:ngr‘xx;hrsy tif Dl(?f%.hbutn:n:‘r?e ?::Az‘b’ex{ 6% 4% AviationCorp Del... 24 5% 5% 5% ¥ 11745 Gen Motors pt (7)... steady; bullish Pmnrgamrd sin_tev:'n:nltt 18 many times and yet not be as safe as ment in industrial activity resulted in| 35% 30% BaldwinLoco (1.75). 74 34% 33% 4% o GBI e o2y : Gomn steady; firm cash markets. Cattle terea hatt et b ot peae ok a sharp increase in the supply of farm | 116 111 Baldwin Loco pf (7). 50s 114% 114% 114% 4 8614 Gen Ry Signal (6) " [ steady to higher. Hogs higher. £ 3 . With no prior charges. In the first case labor and a greater than average sea-| 119% 115 Baltimore & Ohlo (7) 25 117% 116% 11774 117 100% Gen Ry Sig pf (6) ... b s AT R Poland 8s. 0 \|# decrease in net income is more seri- SOMEAS it Taietunvex of (NG 107 Dambergerpt (834). 308 uL it an H G RGD . Washington Stock Exchange |75 T AR E... 10 99%,.99% 997 |ous, because the bond interest remains on January 1, as compared with 162 2 110 Bangé&Aroos pf (7). 30s 110% 110% 110% 4 39% Gen Theat Equip vts z Queensland 7s p 20 98% 981 98y |the same and must be cared for before on Jenuary 1, 1929, the 1910-14 pre-war | 24% 21% Barnsdall, A (2). 3 2% 221 29% 28 0 sl kol 9 * SALES. Rhinelbe Un7s..... 8 104% 104% 104% | Cuba Nor63%scts.. 2 69 68% 69 |Anything is set aside for the preferred period being used as the basis of 100. 16% 14 BeaconOil....., 1 14% 14% 14% 7y . Washington Gas 6s A—$1,000 at 103%, | Rhine Wst EP 6s 63 0% 90% | het & Hud 53%m 1 103% 103 1031 | dividend. With such stocks the best o i S B T e o . s e S LTS 68 $600 at 103, $300 at 103, $500 at 10314, | Rhine West 63 53. . L 10 100% 100 100% | SEAEUCE 8 the number of times interest Far Western States and lowest in the | 104% 103 B'trice Creampf (7). 1 103 103 103 18 QOB CREDIE) c 1 $1,000 at 103%. Riode Janeiro 8%s ¢ 99% 99% % 9 93% | taken together. South Atlantic States. Day wages were| 83% 80 Belg NRyptpf64d. 1 821 80w sou 3% Gold Dast %) e St 0% pia-Sutmis | I dedun se RS oM 6T s 5|, Of course, if there are no bonds, the highest in the North Atlantic and low- | 41% 32% BendixAviation (2). 53 401 38% 38% 40% Goodrich B F (), 4 Potomac Electric 514 % pfd.—5 at 107%, | Rio Gr do Sul 6s 48. 95" 95 G& 90 |the calculation is simple. It thy dier ®st in the Southern States. o el . 37 36% 34 36% 95% Goodrioh pt (1) ... s A 107, 5 at 1073, S g 8% s | Det United 4% % 96% 96% | dend, for instance, is 7 per cong o m s ethlehem Stee! i ) 15 " = i as| n % X s om eoee h \ Richmond Cuts Rediscount Rate. 197 2900 Pebiste o p‘l ‘(;; 921! }g‘l;'» 12? {gg s g{z) gongy“, .n";s 5 95%’?‘10 B, 9:1{,. & Elec. pfd.—10 at il 984 Erle 1st cons 4i , gs'su :%go p:{‘ and :;nnm;gs are equivalent to The Federal Reserve Bank of Rich-| 103 101 Bloomingdale pf (7). 10s 102 102 105 Al e e LT ;7 4 Merchants' Bank & Trust Co.—10 at|sae Paulo 1950 91 91 |ErleconvisA..... - 33% £ Goveres Toms ponered, Wy yeetuvved mond yesterday cut the rediscount rate( 79 78 Blumenthal pf (7)., 10s 74 93 95 e % 131. 98y 0ai] BUEG ERY 54 b R four ‘fi‘n"se As a matter of from 5 to 41> per cent while the New | 56% 47% BohnAl& Brass(3). 53 b4% 53% 63 Fritdeabiedl o 2 o Mergenthaler Linotype—10 at 10814, 5 7 10714 10714 | Erie ev 68 67. wide margin for & stock Wit aarly York Federal Reserve Bank was reduc- | 67' 60% Borden Co (k3). 10 68% 664 68 bt i el . at 10814, 20 at 108'%, 2 at 108%. F o 78% 78 | Fla EastC s 83 85 s | wid €ln, for a stock with no prior ing the rate from 4!, per cent to 4| 42 32% Borg Warner (4). 7 40% 39% 39% 40 51 ~CEanby Copmet it Serbs Crot Slo 8s. 88 88 |FondaJ&G 4%sb2. 1 281 Charges, and vei there are preferred per cent. Both announcements came | 103 99 Boston& Malne..... 1 10216 1025 1ogrs 321 Grand Siiver Stes (1) bl Shineyetsu 6% 52 T o of |ecn i avan 5106 105 105 b ot eamn_ thelr dividends with e UV Stack e el Ol T B R & 35" GrandBioreatly . : Potopac Electric 6 1953—81,000 at 106. | sotssons 6s. . 103% 104% | Grand Trunk 7 5110 109% 110 | tors 7’3:;.2«::);::;&3::33"&:%&' arket. 2 riges Mfg...... 3 3 5 e i A . Potofhac Electric 5'2% pfd.—10 at 108, 103% 104 4 % J J The action in New York is considered | 29 213 BriggsasSteatton (2), e 8 Grana stor ot (614) 10 at 108, R R AT 102% 102% Aiad o Last Word in Safety. highly important and brings the rate| 16% 13 Brockway MT. 1 A B30 Grand'UnoRaEAsL . Washington Rwy. & Elec. pfd—5 at | gwiss Conted 8 108 108% 35 111% 111 111% |, The stock is of $100 par and is en- down to what is considered “normalcy.” | 71% 63 Bklyn-Manhat (4 67% 69% ™ 37 Granite City Stl (4) 5 9634, Toho El Pow 7s. i 99% 99% titled to annual cumulative dividends at g special s rown Shoe Co 4 $ Mot re L apital n X . | Hocking Val . 5 % ! prio Federal Reserve district. It means more | 20% 13% Bruns-Balk.Col T o o Seer et Weatiinglon Gas 6 Aol 0 ot 10314, | Utd Kingm 538 37. 54 104 108% 1034 | fjug & Man ag 6. .. 2! 776 704 | T538, Tns lant st ot o e fo the industral cities in the district 23% 1o BrunsTer& Ry 200 200 e . 3o " Mergenthaler Linotype—10 at 108%, 10 HErE DL S Loos 10% | Hud & Man ref 5 § 96 are ‘available at this writing, General an it does to Washington. Wash-| 26% 2214 BucyrusErle (1).. 30 28 : -80). ’ : at 1083, 40| Uruguay 8s...... 05 o 91% 915 | Motors earned $207.72 & shore eny ington does not have as much of the| 374 331 Bucyruscv pf(3%). el 12% Griesby Grunow (2), 10 s Warsaw 7s 52. 9 T6% 176% 767 1% e on its kind_of paper which the Richmond | 12 9% Budd (5G) Mfg ) 1o ana B e Bid and Asked Prices. Yokohama 63, 6 95% 95K 95% 6 904 00w|T per i LR G ank requires for rediscounting col- | 14% 814 Budd Wheel (1), 31 ~4 s 8 T v lateral as is offered by ctles with DIE| don Zom Doad whe (1(.:3) P el 51% Guif Sta Steel (4)... BONDS. MISCELLANEOUS. m:n:;\;luceu?‘tt'i?e stock. Such & stock manufacturing plants. 30% 26% Bulova Watch (3)..s % 29 29 12% Hahn Dept Stores. .. PUBLIC UTILITY. Abram&Straus 5%s 10 99% 99% e oty | Tdodie zgircrrome;pfi m?m i Local bankers, however, expressed 991 Burns Bros A ( 1 100% 100% 100% 71% Hahn Dept S pf(6%4) Bid. Asked. | Alleghany Cp bs 44. 34 101t 101% 3¢ 684 67 684 |be increased, but it does reproseci it satisfaction over the lower rate and 24 Burns Bros B 1 24 24 24 26 Hall (WF) Ptg (m1) 7% | Amer. Tel. & Telga. 4's '33... 100" . | Alleghany 655 49. 68 101% 101% | Int Rapid Trans bs. 34 % Gsk Iast woed 1 aabe loes represent the said it would have a good effect, es-| 50% 48% Burr Add Mach (1) 21 48 4T% 47% 3 99 . Hamilton W pf (6).. 3 A‘,g",;m-&"TT,”':x g ‘Am Agri Chem 7%s 4 103% 103% 103% | Int Rap Tr 53 stp P Y. pecially psychologically. It is another| 44% 36 Bush Termnl{23).. 28 43% 42% 42% 4. 95 85 Hanna pf (new) (7). 10 914 9 scostia & Pot. R, B o ' AmChem 5%scv 49 31 100% 100% | Int Rapid Trans 3 5 57 .. dication of easier money conditions, | 108 100% Bush Term deb (7). .110s 105% 105 105 3 g 205 Hartman A (2). % 22% 74 | Anacostia & Pot. o Am Int Cor 5%s49. 35 95% 96% | Int Rapld Trans 2 2 TREASURY BALANCE. ways so_desirable. 4 3 ButteCopper&Zine. 2 31% 3% 31 2 13% Hartman Corp B 1. S & P Tel of ‘o5 |Am NatGas6%s43 7 71 T2% 7%| The uni Sales of the David Pender Grocery 5% 4% Butte & Superior (2) 38 5 4% 4% 5 AmSmit & R1stbs 9 100% 108 9 i e United States Treasury balance Co. in January amounted to $1,287,751,| 95% 80% Byers (A M), 83% 82 83y Deis: ‘Am Sugar Ref 68... 7 104% 104% 4 74| announced today as of close of business compared with $1,152,022 in the same 90' 831 Hershey Choo pf(15) Am T&T cv 4%s 89 792 1475 148% 92% 927 | February 5 was $83,019,033.42, Cuse month last year, an increase of 11.78| 69% 66% Calif Packing (4) 69 69% 15 Hoe (R) &Co....... Am Tel&Teleg 55'65294 100% 100% o513 o5y | toms receipts for the month to date per cent. 2% Callahan Zinc & L. E 261 Holland Fur (e12%). 7 1031 108% 75% 75 | Were $5.679,696.51. Total ordinary ex= cCrory Stores Corporation reports| 89% 5 7 Hollander & Son, . ... i 1007 m"z " 99y 100 | Penditures, $9,322,153.26. of $2694403 for January, com-| G 3 2 19 Houdaille Her B (2). 4 3 3y 3 1055 » 89% 891 89U . d_with $2.690.988 for January,| 2 2513 50% Housed F pf 13.12% . bincton Rwy. & Flec. dn.. 8% 85 T e i e b i SHORT-TERM SECURITIES, e of 12 per cent. 71% 63% Canada Dry G A (5). 0% 70% 5214 Household Prod(14). MISCELLANEOUS. ‘Armour&Co 4% 9% 893 89%|Lake Shoreds3l... 4 991 99% 99% January sales of the Childs Co. to-| 202% 187% Canadian Pac (10)... 89 220% 202% 218! 521 Houston Ofl........ Barber & Ross, Inc., 6ls ATmuEDelE 84% S4%|LeniValends..... 25 88 87% 88 | (Reported by J. & W. Seligman & Co. taled 68,618, as compared with| 3213 27 Cannon Mills (2.80)., 3 82 311 3 36% Howe Sound (14%).. Oham-Uanait. Jigtel €hs At1Gulf 68 59. .. 6% 6% | Lehigh Valley 5520 10 107 107 107 | aws.ohaimers co. 5 1937, fhid: Offet: $2239.671 for January, 1929, an_in- 18% Capital Adm (A). 2 23% 284 511~ 46% Hud&Man Ry (3.50). R e Atlantic Refin 68... 2 100% 100% 100% | yor ooy oo g 59% 591 | Aluminum Co. of Amer. s 1052 103 ° 0% crease of $128.947, or 5.8 per cent. This| 34% 31 C 1 34% 34% 5 % 53% Hudson MOtor (5).., ot t Stock Ld 03% 108% 103% | Market St 78 40 201 AT Rolling Mills 85 1948 is the eleventh consecutive month for| 249% 1924 C % 233 20% Hupp Motor (£2) s, .. W, 2 God Siorage 85 .20, | Bell Tel Pabs B.. et o b LA 9815 081 | Baltimore & Oflo dise ipan increased business, 6% 54 (‘Alerp!lll’rTno(l). 22 68 66% 68 128% Illinois Central (7).. 9 " ash. Cons. Title s . Bell Tel Pa 63 C. el L : A Batarian Fei, Corp. 412s 1o Mergenthaler Again Climbs. | o 2 s o 9% 5 Ind Moter Cycle...... 9 9 STOCKS. 5 1021 1023% | M St P&SSM cn 4; 887 B8 | Calitornia’ pet. Cor. *sian i Another advance in Mergenthaler | 34% 30% Cent Alloy Steel (2). 6 82 81% 821, a1 Rl lfidl‘_";‘}‘l’j,‘,’,:‘““) PUBLIC UTILITY. 108 }ga* ;,3." % | Chicage Rock Isiand Linotype stock was the feature on the| 110 107% Cent Alloy St pt(7)., 208 105% 105% 105% 107 - 16 Indian Refining et .. 5;0',; I're;vr&"ffl"é Bush Term Bldg 1 v 2 gggvhct’gner Co. bs 1 Washington Exchange again today. The| 5 4 Century Rib Mill 1 8% 3% 3% 3 107 “Induy e s I | et odan i D 18* 1B fetnecoprens 9% 95 95 H 5 dison EI I Hoscon 41 stock opened up quarter of a point at| 65% 591 Cerro de Pasco (6, 16 64% 63% 64 6 261 Inspiration (4) i " N. & W. Steamboat b I bt 4y 5% T4 fne s cep. Cor. s 1 108!> and closed at 108%;, a new peak | 15% 11 Certain-teed Prod. 3 15 144 194 Insuvancolbacuitte.. /¢ | e men: o b4 132 a3t | Gor GaEl bs May 53 100 100 . . | General Pet. Corp. 53 1040, price for the vresent move. Trading| 44% 36 Cbecker Cab (4.20) 27 33 20% Interboro Rap Tran.. i Wash. 'Rwy. & Elec.” con. -::-" | Com Invest 5343 49. 878 87 e totaled 55 sharese 226 203 Ches & Ohio (10) 2 14 Titerconenestat s h. Rw I : Corm Invest 4n48s. 901 90% Potomac Electric Power 6 per cent 74% 63% Chesapeake Corp 2 4% Intl Agricultural 6 Wa 4 H Con Coal M4 5 2 61% 62 stock sold at 112 and the 51 per cent % 5% Chi& Alton pf. e P 56% Intl Cement (4) . rv. A ¢ ConGasN Y § 105% 105% 5 € 111 1101 1101 issue at 107 nt,\:i msrm .\(;nallmlots 5% 13% Chi Great vva- % % 6 TRGCHEbINon, 1 “ GoristniersToOw 3 ;“:b‘:y“f;.‘,"“"v s 95 95 95 |Bnilibs . 18 ay & Electric preferred sold at ht Great Westn pf. . 39y 3 3 : Eng pt. < ¥ i & and 6% 5% 24 Chi MIllStP&bac. .. . 3 : e {::;;‘C.‘;:n.‘:l!‘;:t(;:‘-)-- 5| c o Cuban Am Sugar 8 Mont T'rmref 6841 5 95% 95% 95% Co. 85 i stock out was Mer- 41% Chi Mill St P&Pac pf bt 2 . 85 i i - 5 102% 102% Crude OIl Co. 5125 1938 98 t : District : 7 Det Edison bs 40 h 9 Standard Of N. Jersey 55 1948 103 4 Chicago& N W (5. 7 . 314 Int Hydro E1A (e2). et e eticas 94% 943 | Nash Chat& StL 4s. St L., Ir. Mt. & So. L o . . 5 . L., Ir. Mt & Ry. 5s 193! 51 Intl Mai 0. ERURN RS s oo 15 1021 | Nassau El 4551, 58 63 | St L’ Southwe several | 32% 22 ChiPneu Tool... 3 300 25 e : 4 Lincoin Donner Steel 7. L L | N'Y T & MBS, 12 102% 10214 1021 SOGnetetn RY. 48 1632 ! : Traction sold | 120% 114 ChiR 1& Pac (7).... 31% Int Nickel of Can (1) 112 3 % 393 Duquesne 43%s 67... S Bow 8| NYCengendws.. 12 T Tow 7ou|U 88. The last previous sale was| 102 100% ChiRI& Pacpf (6) 1 101% 101% 1017 12 Intl Pap & PwrC.... 6 14 3 | Secon T 3% Buss e Bow T8 o 85% 85% | NYCendebds..... 3 971 978 97%| W, { E recorded.at 89. 107% 107 = ChiR [ & Pac pt (7). 107% 108 7 94 Intl Print Ink pf (6). ; 31, . ank’ of Washington.' 360" | Flsk Rub83....... : NYCrfim4,s... 2 981 981 981 & TD. Slos 10033 G good drm:ndyhr 662 ’“ L:h Tl 5 63% 65 65 +: 61 IntlShoe (3) ¥ . 1 ¥ TRUST COMPANY. Gen Cable 5%s 47 :gg‘,z }3;”‘ N Y Cen rf bs. . 14 1!;: 13;;, 1(7»61.', TP. 4'28 1953 871, tions took place 40 Chrysler Corp (3). 39% 39 2 . . : NY CenLScl $14s. 16 % 78 fosis Lok piace ittt LS e 62% Int Tel & Teleg (2).. American Security & Trust Co.. 41 Gen Mot Ac Co Y % 4 30 Inter Dept St (2).... 3 3 Continental Trus 127 Sen Stl Cast 543 4¢ 23 1027 102% 102% 95 95 95 Potomac Electric Power | 98 95 Clty loe & F pf (6% ) 4 98% 981 24 Tutes Dot B DE e Merchants' Bank il 1 105% 106% % City Stores (1)...... &StLE%SA 7 106% 106% 106! 5" k9 9 . | National Saving L 92 91% 92 Clark Equipment (8) B e 19 Investors Equity(2). " Hotional | 5 o ® enBemmae Y Sa8R nion Trust, - &StLEsA... 1101% 101% 101 Heard in Financial District. Cluett Peabody (5) 308 30 5 43 Jewel Tea (4).. 1 2 " B . H&H457.. 1 77 771 7 John B. Larner, president of the| Coca-Cola A (3) % 49% 4% % 117 Johns-Manville (3).. " Humble O & R 6% % 101% 101% NE&H O4agl 67 o5 ot oty Washington Loan & Trust Co., has re- 14% Collins & Afkman. 2 3134 20 118! Jones & Laugh pt(7) 111 Bell Tel 53. 104 104 N e o 8 f€0W 80 eone turned from a short trip to Princeton, Colo & South (3) 3 8 89 2 Jordan Motor Car... 6 3 ommerce & Savi o Int) Cement & 98% 98% . i 7 <i - ' 9% 9TY 22% 224 £ 3 36'4 Col Fuel & Iron (2) v 49% Kan City Sou (8).... & Y mac .6 73" | Intl Match 6s 47 “ 4 8% 8 John G. Herndon, chief clerk in the| 92% 70% Col Gas& El (2)...,. ) 7% 884 63 Kan City Sou pt (4). 6 y 8§ Int Mer Mar 6s. 98 98 4 88% : 2 il office of the controller of the currency,| 107 104% Col Gas & Kl pt A 105 105%]| 1 Kaufmann)D § (1%) 2 Phoiafires % Int Paper 6s 47 85% 85y ) Nor&S gen L [ : 4 5 6 | N 208705 647 65 |SouPacrefds..... retired yesterday after 42 vears' active| 96% 86 ColGas& ElptB(5) 1 3 93 Kayser Jullus (4)... 1 7 Washington Mechanics e 4 33 S:N N::;:z %20 4 9715 97| Sou Pac 4345 69w service. Controller John W. Pole, speak-| 31% 24% Columb Graph (87c). 29% 5 Keith-Albee-O pf (1) 9 FIRE INSURANCE. AL S 1106 106 104 |ScoRy gens ing for a large group of his assoctates,| 195% 168t Columblan Carb (16) y 5% 3% Kelly-Spring Tire. .. o 4% 4 474 | American Int Tel&Tel 4348 ¢ 3 79 116% 1173 [ N b PR AL AL L d Mr. Herndon with a gold Com Creait (2). ain| 5 Kelly-Spring 6% pf. 800s 5 5 B . Kan City P& Ltss. 1 104% 1041; | Nor Pac rf 6 g i *| sou nysnu i > (3., 383, 38% 3 29% 224 Kelsey Hayes (2).., 15 & g ' | Kan G & E6863.... 104% 104% | Ogden & LakeChds 1 77 77 177 s.mnim. indred students of Washington 22 ComCred pt B (2). .. 24 24 11% 04 Kelvinator Corp. 3 d6 6 100 100 |OreShortLbsgtd. 2105 105 105 < 76% Com Crd 15t pf (6%) “° " 6214 5bY IKenmecott (5)... ... 168 5 Eei % 1025 109% | Ore Wash 15t 4 4 89y 89y 8oy |SOURYMo&Ods. , ma n 36 Coml InvTr (g1.60). 13 47% 45% 45 52! 49 Kimberly-Clark(3). 1 b51i% % Golumb! b H 81 81%| Penna 451948 stpd. o2 o214 gz |TermAssoSLa.. offices of the Chesapeake & hl‘olomac 9 Eom In: "rr Df (635). 92 92 4 ,‘:;:‘« ,":"”“f{,:é:’?,';“ . é‘i 2 & t Md. 119% 119% | Penna con 4% 6 10 P“‘b‘. c"" “Telephone Co. Wednesday night. 4 Comm Snlvents (1).. 115 31% 29% 3814 Kraf 5 MISOELLANEOUR. 1 715 1074 10714 | Penna gen 4% X .. £8 Comwlith Power((4). 3 155 150 86% 32% Kresge(SS)Co(1.60). 24 33 9314 93 Third Averef 4a 60 Reserve Board’s Weekly Report. 16% i2% Comwlth&Sou(80c). 503 175 jere 17 70 61% Kress (SH) (1), Barber & Ross, Inc. com. 18 20 s 93WiPennaea aes o 8 164 2 4 (1 B e a % BRW 88K |Penna ge 10 106% 106% 106% | Third Avead)ba... 3 The consolidated statement of the| 63's 65t Colo& Sou 2 pt (4). 108 651 6ors 20% 23% Kreuger&Toll (1.34) 328 80u 20% 2 ol "Band & draval brd 8 88 90 90 | Penn be 84, 6 103" Joow 109+ | Tol Tr L&P 5%a30. dition of the Federal Reserv: Banks| 18% 13% Congoleum-Natrn... 20 4 484 4 Kroger Gr&Bak(n1). 44 ‘ / Bi,C- Saper Mis. pt Lortllard (P) 7s. .. 106% 107% | Penna 6 %; 21 108% 1081 1084 [ Unton Pao 1st 4s. on February 1, made public by the Fed-| 52% 45 CongressCgr (16%). 8 53 Ye 50%| 22% 21% LagoOll & Trani 22 ‘AW 32 34 |LouGas& El6sb2. 101 101 |Penna Gold 7s 11 100% 100% 100% | Un Pac 1st rt 4. eral Reserve Board, shows a decrease| 55 44 Consol Clgar (7).... 3 ba% 97 Lambert Co (8). : i a 2 McC'rmick ER 6334 3 101% 101 101 |PaOhlo& Det4%s. 2 96% 96% 96i | Unlon Pac 48 for the week of $25,600,000 in hc;ld;;x_lgx Z:\.A :,z l(;un.:x;-l:‘s:rlllr 1.16“';.‘235 3 3 4 t:'a ;A:.a‘n;:u‘b;‘rl&'x;q" s 2 8 | Fed 0 o 2w B Steel 100% 100 100% 1 103% 103% 103% | Union Pac 4% of discounted bills and increases of $37.- 60~ Con CgT pr pf x w6 % 4608 ’ 3 % 704 Lehigh Valley Lanston e 1 98% 98% 98% | Un Pac 1s 300,000 in holdings of bills bought in| 78 76% Consol Cigar pt (7).. 108 12% Lehigh Valley Coal. . 2% 12 Mnmnw' A 9% 99 99 N 98y tref Merchants’ T, open market and $1,300,000 in United| 23 15% Consol Film (2)..... States securities. Member bauk reserve| 25 18 Consol Film pf (: 5 23w 23% 23% 3 4 Leh Port Cem (2%), A 36 : Hatl Mok by deposits increased $30.900,000, while! 114% 96% Consol GasN Y (4).. 110 112% 110% 111 113 | 3 97 Leln & Fink (3)... . 3 tRL 1 20% 20% 4 21 Leh Val Coal pf (3), s 98t ooy ogy | ortRL&FS 98 98 98 |yirginta Ry 18t b Da New. Enxlnn‘: Tel 5 104% 104% 104% | Readinggendl%sA 5 98% 98% 98%|Vy Ry & Pbs Peoples D . g - : 11034 1034 103 | RIOG W lstds..... 4 924 91% 92% | wapaen 1ae s Government_deposits declined '$9,500,- | 1005 991 Consol Gas NY pf(5) 1 100v 100+, 100% B 94, Lissett & Myera(15) 38 106% 106% Benirity Stoie 11 ; 35 113% 113% | SL IM&S £n 6831, 14 100% 100% 100t | Wbash 55 16 000. Federal Reserve note circulation 57 49 Consol RR Cub pf(6) 57 57 " 5% Liggett&Myrs B(16) 20 b 4| Ter. Ref. & Wi a 1 3 92% 92% StL IM&S R&G ¢ 86 96'% 964 declined $18,400,000. Total bills and| 2 1 Consol Textile. 5 4 t 35% Lima Locomotive. .. orp S i 106% 105% securities were '$12,900,000 above the! 18 12 Container Cor A 1. 8 —_——— Sh Medical Bids." Goip 99% StL&SF 4% amount reported a week ago. 6 4% Container Corp B. 6 (Continued on Page u,)' v ¥ 98n v 2 98 98 Wi Woodward & Lothrep pea e | 76107 106% 107 St L&SW con 2 8 8