Evening Star Newspaper, February 17, 1930, Page 13

FINANCIAL. - BROKERS T0 HEAR ASSOCIATION PLAN Houses Here Will Meet Today. BY EDWARD C. STONE. Another important meeting of repre- sentatives of the New York Stock Ex- change brokerage houses in this city will take place this afternoon at 5 o'clock at the Metropolitan Club when further steps will be taken toward the organi- zation of a Wash- ington association. The committee ap~ pointed Jast week to draw up the ar- ticles of organiza- tion will make its Teport. It is not consid- ered necessary for the new association to have any ; \ tended by-laws. w Briet articles stat- &~ N e general 7 altis of She chey. Bebert 8. Stuns ciation and the method of management are considered all that will be required. The aint of the proposed organization is to bring about more uniformity of action regarding minimum commissions, odd lot trading and many other similar | problems and the adoption, of some means for the better protection of the local brokerage houses against undesir- able customers. The first meeting was called by George A. Garrett, partner in the F. B. Keech & Co., and 14 of the 16 offices in the city were represented. The com- mittee named at that time to draw up the articles of organization consisted of Arthur Foraker, manager of Eastman, Dillon & Co.; Chester Flather, one of the managers of the local office of G. M. P. Murphy & Co., and Chester Lockwood of Harriman & Co. Stunz Athletic Chairman. Robert S. Stunz, vice president and cashier of the Park Savings Bank, has been appointed chairman of the athletic committee to arrange for the many events in connection with the next an- nual convention of the District Bank- er's Association to be held at Ashe- ville, N. C. Mr. Stunz has already served on several association commit- tees most acceptably and President W. J. Waller’s choice will meet with gen- eral approval. Mr. Stunz is & banker who began at the bottom of the ladder. He started as & runner in the old Home Savings Bank, at Seventh and K streets, under Howard Moran, and advanced rapidly through various positions until made a branch manager. Later he became an assistant national bank examiner in the New York Federal Reserve district. ‘To become assistant cashier of the Park Savings Bank, he resigned as an examiner. ' After joining the bank staff, it was not long before he was elected cashier and last year had the additional responsibilities of vice president placed upon him. The bank with which he is connected declared a stock dividend of 100 per cent a year ago and also doubled the capital at the same time. Delegation at New York Dinner. ‘There was a large delegation from Washington at the annual dinner of the New York Chapter, American In- stitute of Banking. President A. E. Henze of Washifigton Chapter, Frank M. Perley and Miss Mildred Woodcock 1 109 a9 284 5% a2y 301, 34 105 261% 5115 70 1 9Tig 101% 81 514 114 494 67 2% 6 814 1073 103 17% B9% 177% 80% 467% 27w 314 8% B0% 42 0% 1047% 238 64 8 21 45% ke 36% 116 26% 234 83% 118 THE EVENING STAR, WASHINGTON, D. C, NEW YORK STOCK EXCHANGE Recelved by Privatc Wire Direct to The Star Office. Notice—All stocks are sold in one hundred-share lots excepting those designated by the letter s (65s) whlcl;: shows those stocks to be sold in oda lots only. Sales of Each Stock Compiled to 12:30 P.M. ~Prev. 1030.~ Saies— Managers of Stock Exchange & Stock ana Dividend Ral Abitibi Power 4 Abitibl P& P pf 23 Adams Expr (1 85% Adams Exp pt (5) 23 Adams Miliis (2). 11% Advance Rumley. AlriReduction (3) 21 Alr Way ELAp(2%), 1% Ajax Rubber 7% Alaska Juneau. Add 00. High. Low. Pa 4 29 28y 1 75% 751 70 32% 32% 2 854 -’54 2 26% 26% 2 16% 16 18 130 127% 10 31 30 3 2% 2 L e 15 15% 13% 206 33% 321 1 105% 105% 1278 273 26 58 4 Alleg Corp pf (5%).. Allfed Ch & Dye(n6) 49\ Allis-Chalmers (3)., 20 Alpha Port Cemt (3) 18 Amerada Corp (2) 71 Am Argicul Ch pf. Am Bank Note (13 Am Beet Sugar. 40 Am Bosch Magn 46% Am Brake Shoe(2.40 &% Am Brown Bov Elec. 60'¢ Am Brown B E pf(7) 1174 Am Can (4)... e 78'4 Am Car & Fdy (6)... » Am Chain pf (7).... 3% Am Chicle Co (1234). 6% Am Com Alco(n1 60) Am European See. .. 8%% Am & For Power. ... 107 Am&Forn Pwr pf(7) « Am&Forn Pwr 24 pf. 9% Am Hawallan § § (3) 41 Am Hid® & Leather Am Hide & Lea pf Am lce Co (14), « Am International 30 Am La Fr & Foam pf 35 947% Am Locomotive (8). 994 210 Am Mach & Fdy (7). 4 257% 255 44 AmMetal (3)....... 5 484 47 65 AmNatGaspf(7).. 10s 72 72 % Am Plano....... 1 & Fu Am Power & Lt (3 13 95 oo Am Pow & Ltpf (6). 2 101% 101 % AmP&LDprA(3Y%) 4 82 80Y 80 AmP&LpfAstis), 1 S0% Am Ra&Std San 1%., 2014 Am Republics....... £013 Am Rolling Mill (2). Am Safety Razor (6) 16% ki) . 200 143% 140% 5 801 R0 86 45 28y 86 44% 27% 48 4Ty 120 961 931y 2108 108 1 98 98 bl 100 X6 26 36% 5 221 97 1007 1 62 34 25% 20s 97 21 73% 72w 4 134% 1344 2 AmSnuff Co (1334).. 2 43 42%, 100'x Am Snuff pf (6)..... 108 104% 104% 4415 Am Steel Fdy (3). 1 501 50 11013 Am Steel Fdy pf (7).100s 114 1131 4613 Am Stores (2)... 147 a7 60'x Am Sugar Rfg (5) 19% Am Sumatra (3) 26 Am Tel &Ca (5) 216 Am Tel & Tel (9) 197 Am Tobacco (8). 197 Am Tobacco (B) #815 Am Water Wks (n1) 99% Am Water W 1st(6). 714 Am Woolen 19% Am Woolen Am Shipbuilding 694 Am Sm & Ref (4). 13313 Am Sm & Ref pf (7). 4 61% 61% 60 2328, 2293 7 2381 234 2 5% 1025 101 17 391 m. 141 €9% Apaconda Copr (7)., 734 35 Anchor Cap (2.40)... 437% 24% Archer-Dan-M (2). . 25 2% Armour 111 (B) 3 able 7 24% Art Metal Works (3) 27% 861 AsS0 Appl Ind (4)... Q. 28 AssoDry G (23). 33 8814 234 170 70 3814 7% 103%m 221 4% 6l 17% 45 ™ 6% 3T% 854 Atl Coast Line (110). 69% AUG & W Indi 3644 Atl Refining ¢ £113 Atlas Powder (4) 101~ Atlas Powdr pf ( 175% Auburn Auto (34 3% Austin Nichol, 4% Autosales. 15 Autosoles Corp p! 7 Auto-StSafRA (3). 4% Aviation Corp Del... 75 30% Baldwin,Loco (1.75). 941 111 Baldwin Loco pf (7) (283s), Prev. Close. Glose. 29 8 7514 32w 864 26" 16% 128% 130 307 3 2 8 15% 13y 33%, 334 105% 1v6 273 L76% 3 9 - H9ly 143 8O 86 45 2% ® a6t 108 35 1001 100 257% 259% 481 4T 72 0% % 95 95 101% 101 82 78 T4 1344 133% 42% 43 104% 102 50% 50 113% 115 36 105% 104% 101 19% “yn 141 T4l 487 25 3 Tl 27% 40% a3 8815 234 170 70 39 8% 104 34 a“n 239% 170 70% 393, 87% ™ 37T% 85% ~Prev. 1930.~ High. % 6% 23% B38% 99% 142% 83 29% 53% 9244 1141 1 4 117 Stock and Low. Dividend Rate. 69 Cortl Insur (2.40)... 5% Continental Motors. . 20% Contl Oll of Del 27% Contl Shares (1), 874 Corn Prod (13%). ., 140 Corn Prod pf (1) 244 Coty, Inc k2). 25'% Cream of Wht 43 Crown Cork & Seal 8614 Crucible % Cuba-Cane Sug ctfs.. 2 Cuba Cane Suggr pf. 9 Cuba Co 45 Cudahy Packing (4). 614 Curtiss Wright Corp. 13% Curt Wright Corp A. 64 Cutler-Hammer. 28% Davison Chem. Deere & Co pt ( 136 Lel Lack & W n'l') 204% Dominion S 77 Drug Corpn 1124 Dupond de Nem (4). 175% Eastman Kodak (18) 277y Eaton Axle & 8 (3) 81 Klec Auto Lite (6)... 414 Electric Boat 49' El Pwr & Lt (1) 10715 Endicott-John pf (1) 39% Eng Pub Serv (11).. 94% Eng Pub Sve pf (5).. 941y Eng Pub Sve pf (5%4) 394 Equitable Bldg (2%) 56 Erfe RRuveieruens 61% Erfe R R 18t pf (4) 35 Eureka CacCl (4)... 181 Evans Auto L($2%). 2 22 Exchange Buf (1%). 50 4'% Fairbanks Co.. 15% Fairbanks Co pt. 3415 Fairbanks Mors 20 Fash Park Asso (2% 91 Fed Lt & Tr pf (6).. 7% Fed Motor Tr (80¢).. 321 Fed Wa Ser A e2.40., 6514 Kid Pho Fire 1(2.60). 93 Filene 50% First Nat Strs (3% 804 Firestone T&R pf(6) 3 Fisk Rubber. .. 13" Fisk Rubber 1st pf.. 50 601 Foster Wheeler (3).. 15 Foundation Co. 161 Fox Film A (§4).... 94% Frank Simon pf (7). 38% Freeport, Texas (16) 5% Gabriel Snub A, 31 Gardner Motor. 12 Gen Amer Inv 99% Gen Am Tnk Car(34) 494 Gen Asphalt (4)..... 25% Gen Bronze (2). 26 Gen Cable..... 66% Gen Cable A (4)..... 32: 30 kel 5 104% Gen Cable pf (7).... 106% 51 Gen Cigar (4) 604 Gen Electric (1. 11% Gen Elec spec (60c). 46% Gen'l Food Corpn (3) 643 Gen Gas&El A (te2). 44 Genltal Ed w.i. a2.61 50 General Mills (3)... 37% Gen Motors (13.30) 117% Gen Motors pf (7)... 32% Gen Public Serv (b§) 86's Gen Ry Signal (5)... 67 Gen Refrac (1434).. 39% Gen Theat Equip vts 1 874 Gillette Saf Raz(nb). 11, 113 Gimbel Brother: 31 Glidden Co (h2) 98% Glidden pr pf (7) 13 Gobel (Adolf) 47% Gold Dust (2% 100 Gold Dust pf (6 40% Goodrich B F&4), 95% Goodrich pt (7) 62 Goodyear Tire (5). Sales— Add 00. High. Prev. Low. Close. Close. g9 694, 704 70 7 70% e 614 * | rallying tendencles developed in today’s 1 5 5 7 1 3 5 3 119% 115 &1 110% 107 Baltimore & Ohio (1) 781 Balto & Ohlo pf (4).. 208 114%5 114% 1144 114% 17 117% 117 117% 117 5 804 804 80w 79 90 Goodyear 18t pf (1) 21% Gotham Silk H (2% 9w Graham-Paige ISTOCKS IN RALLY AFTER EARLY DROP Market Recovery Is Resumed in Afternoon—Trading Volume Light. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, February 17.—Strong stock market after a heavy week end accumulation of selling orders had given @ reactionary appearance to early trading. Many of the early declines of 1 to 6'2 points were cut in half, or wiped out by early afternoon, and a rather long list of issues -were marked up 1 to nearly 6 points above last week's final quotations. Trading was only moderately heavy in volume. Call money, ‘which opened at 4 per cent and advanced to 4, on Friday, re- newed at 4! today, with only a mod- erate supply of funds available. The time money market was dull, with a marked scarcity in forelgn funds, which up to recently have been one of the chief sources of supply. Renewed weakness developed in the ccmmodity markets, Chicago wheat fu- tures sagging more than 2 cents a bushel, while cotton sold off about $1.50 a bale in the early trading. Early selling was generally described as a_correction of a temporarily over- bought position built up in the rally of the last month. Because of the fact that stock prices have advanced much faster than brokers’ loans, Wall Street is inclined to the view that marginal buying has not reached very impressive - proportions, although the volume of funds loaned by banks throughout the country on securities | collateral is still above that of a year | ago. In the morning reaction Auburn Auto dropped 6'¢ points, Vulcan Detinning 6!y and Newton Sieel, American Ma- chine & Foundry, Vanadium, Westing- house Electric and Lackawanna drop- ped 3% to 5 points. Coppers and olls were weak because of the uneasiness regarding the price structure in those industries, Standard Oll of New Jersey sinking to a new low level for the year. United States Steel common sold down 1'z points to 1841, but recovered its loss by early afternoon. Strength and activity of the Amer- fcan Woolen issues, in ‘the face of un- favorable trade reports, aroused con- siderable curiosity. American Tobacco established a new high record for all time, just under 240, after having sold | down to 233';. Brooklyn Union Gas, Consolidated Gas, National Air Trans- port, Liggett & Myers A and B and Brooklyn ~Manhattan Transit also moved into new high ground. e i PARIS BOURSE PRICES. PARIS, February 17 (#).—Prices were weak on the Bourse today. Three per cent rentes, 86 francs 90 centimes, Five per cent loan, 101 francs 15 centimes. Exchange on London, 124 francs 25 MONDAY, FEBRUARY 17, 1936. BANK CHAINS SPREAD FAST IN NORTHWEST By the Assoclated Press. MINNEAPOLIS, February 17.—The eight-month-old chain bank movement in the Northwest enters 1930 with two powerful chains and numerous smaller groups organized. ‘There are 30 of the latter in Minne- sota alone. The two great chains have aggregate resources of $976,000,000 and many bankers.see in the movement a chance for the Northwest to become more independent of the financial cen- ters of Chicago and New York. The Northwest Bancorporation, the first of the two largest chains, was started in January, 1929, and now has resources of almost $450,000,000. It in- cludes 77 banks and 6 trust companies. ‘The other, the First Bank Stock Cor- poration, has resources of $430,000,000 and includes 61 banks and other finan- cial institutions. It was organized in August. BANK CHECKS. Celebration of Lincoln's birthday an- niversary last week materially cut down, the Federal Reserve Board noted, the weekly total of bank checks paid in principal business cities of the country. Figures which follow give the aggregate of checks drawn in the centers for the week and comparable periods: Week ending Feb, 12....$11,677,030,000 Preceding week .........$15,782,020,000 Same week last year. ... ..$16,876,039.000 Money to Loan e evaling " intcress and” Joseph 1. Weller Wm. Gordon Buchanan ot Councilor & Buchanan Certified Publie Accountants Tower Bullding National 6110-6111-6213 (Telephone Directory Omission) Real Estate JAMES Y. PENNEBAKER Nat.5201 1520K St.N.W. Investments REAL ESTATE LOANS «— o Large and small First Trust loans negotiated promptly at prevailing « rates and commission, O @ FIDELITY MORTGAGE INVESTMENT CO. 507 11th St. NW. centimes. The dollar was quoted at 25 francs 553 centimes. Organized 1879 JOHN JOY EDSON, President .$5,662,549.55 Equitable Co-operative Bldg. Ass'n | Subscription for the 98th Issue of Stock Being Received National 2431 50th YEAR COMPLETED WALTER S. PRATT, Jr., Secretary Surplus & Profits......$1,705,130.78 PINANCIAL. We Solicit the-Rental Management of Your Property Whether Apartment, Residence or Business Prompt Collections RENTS REMITTED THE DAY RECEIVED Our Rental Department is Most Complete and Efficient. We offer co-operation at all times in the solution of Ownership Problems, such as refinancing your mortgage, repairs; insurance, etc. RANDALL H. HAGNER & COMPANY, Mortgage Loan Correspondent New York Life Insurance Company ; 1321 Connectjcut Ave. NN\W. Phone Decatur 3600 . Consult Us Regarding Your Maturing Mortgage. LONG-TERM REAL ESTATE LOANS WE MAKE FIRST MORTGAGES ON Homes, Apartments and Bus Properties “in the District of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Decatur 3600 Mortgage Loan Correspondent New York Life Insurance Company by far the best all "round investment because it ear- ries with it that element of - safety which is generally lacking in investments of higher yield. FIRST MORTGAGE - NOTES FIRST MA()RTGAGE Bamberger pf (634). 108 107% 107% 107% 108% 75% 63 Bang & Aroos (3%) T T4 TA% AN TAN 112 110 Bang & Aroos pf (7). 10s 1104 110% 1104 110% 20 16% Barker Bros(2) 608 17W 174 1T 174 24% 347 20% 101 200 21 Beacon Oil....., 2 18% 13% 13% 4% 0% 60% Beech-] 1 68 68 68 68y 6% 4% Belding-Heminway. 5 54 5 5% 5 83ls S0 Belg NRyptpf6.49., 1 82y 82 821 824 4l 32% Bendix Aviation (2). 25 40% 38 391, 38% 37% 31 Best & Co (2) 4 365 36 364 364 102% 92 Bethlehem Steel (6). 72 1013, 100% 101 100% 127 122% Bethlehem Stpf (7). 3 126% 126% 126% 12615 79% 74 Blumenthal pf (7)... 10s 79% 79% 79% 79%, 56% 47% BohnAl& Brass(3). 1 b4 53 b4y b3, 6814 60% Borden Co (k3) 1 65 64% 65 6411 42 327 Borg Warner (4 3 404 39% 40K 40 20 16% 16% 16% 15% 11 72% 70 1% 70 2 90% 88 90Y 88y 3 1% 11% 11% 118 1 604 604 60w 61% 25 165% 1601 164 162 14 14 4% 29 16 18 = Hercules Motor 1. 4% 3 : Hershey Choe (5) 20011 8 o A 2% 7 Hollander & Son. .... 2 26w 36w aew 130 | 29 19 Houdaille Her B2). 2 3 1% T 3% % 504 Housed F pf 13.12% . 7 o % ux 1w 524 Household Prod(14). 128 5214 HOUStOn Ofl.... .\, 35% Howe Sound (1414).. 46% Hud&Man Ry (3.50). 53% Hudson Motor (5) 204 Hupp Motor (£2. 128% 12814 Illinols Cent pf (6). . 23w 21 independ Ol & G (3) 28 104 5 Ind Motor Cye a1 64's 30 Indn Motorcycle pf..280s 23% 17% Indian Refining 19 % 16 indian Refining ct... 12 124 90 Indus Ray(bb%stk). were among those who represented the local organization. Other present in- cluded Wilmer J. Waller, president of the District Bankers' Association; F. P. H. Siddons, secretary of the Amer- ican Security ‘Trust Co.. Joshua vice president District Na- Bank; Charles C. Lamborn, treasurer of the National Savings & ‘Trust Co., and I. J. Roberts, assistant cashier of Riggs, and H. G. Hoskinson, vice presidents of the same . Other local bankers also tended the banguet which was con-| sidered of unusual interest. Chapter Expects 850 Guests. Washington Chapter, American In- stitute of Banking, expects 850 mem- bers and friends st the Washington birthday banquet at the Willard next Saturday night. If this number is reached it will be the largest attend- ance at this dinner in 26 years. The Treservations close tomorrow. Last year's attendance was around 815. The committee has provided an exceptional program. T. Hunton Leith is chairman of the dinner com- mittee and A. O. Dooley chairman of the information committee, Many senlor bank officers and bank directors have already made reservations, Bankers to Appear on Radio. 8% Graham-Paige ct. 51 Granby Copper (8).. 324 Grand Silver Strs (1) 18% Grand Union..... 37 Grand Union pf (3).. 37 Granite City Stl (4). 82% Grant (W T) (1). 95 Grt North pf (5 904 Grt North pf et 19% GLNcUsOP (a3%). 4ls 28% Grt West Sug (2.80). 1165 114} Grt West Sug pf (7). 10s 22% 124 Grigsby Grunow (2), 40 2 1% Guantanamo Sugar 45% 3815 Guilf Mo & North. 98 94 Gulf Mo & N pf 70% b1% Gulf Sta Steel (4) 174 12% Hahn Dept Stor 2 114% 100/ Hanna (M A) 18t (7) 108 9% 85 Hanna pf (new) (7). 30s 60 Harb. 18% Hartman Corp B 1.20 « Hayes Body.... If You Want to Progress Financi- ally—SAVE , The most successful method of saving is to adopt a systematic plan. Join the Equita- ble and save as you earn. 1 10 11 $2.50 Covering the Country * Per Sha g AVING loaned on Real Estate. in vll‘;ou! .Cc‘ion. Of 'he United States, the experience of the Metropolitan Life Insurance Company has been such as to make available to all an excellent financ- ing plan, We invite applications for loans on property in the District of Columbia and nearby Maryland and Virginia. 881 £4% Bklyn-Man Tr pf (§ 13% 10 Brooklyn & Queens. , 61% 54 Bklyn&Queens pf (4) 163': 131 Bklyn Union Gas (5) 20% 13% Bruns-Balk-Col.. 915 F St. N.W. cvpl (2%). 9% Budd (EG) Mfg (1), 8% Budd Wheel (1)..... 45% 29% Bullard Co (1.60) 30% 264 Bulova Wateh (3), 105% 99'% Burns Bros A (8) 50 434 Burr Add Mach ( 44% 36 Bush Termnl (2%) 109% Bush T BI The American Institute of Banking| sy ''4rs Borts a ook P A7) W e is conducting an educational week on 3 1 B R e e the radio, in which Washington Chap- 2 204 204 20% 20% ;fi:;‘ w;g. n.;:?smgNA':h Tomu‘x;jrow ev:- 95% 0% Byers (AM 15 86% 84% 864 4w 5 erson, vice prsi-| 114 109 Byers (A M) pf (7).. dent of the Security Savings & E‘mm . A 10: - R National Metropolitan Bank 1814—Oldest National Bank in District of Columbia—1930 15th St., Opposite U. S. Treasury 9 102% 103 1014 9 461 461 461 464 2 40 89 89 40 108 110% 110% 110% 109% 6 5 Long Term Low Interest Rates - EAVER BROQ . Extra Banking Hours Today . mercial Bank, will speak over WMAL | s oo Sabf Packing (4) it at 6:45 on “Investigate Before You Invest.” and his talk will be followed by one by I J. Roberts of Riggs on “Thirty Years of Progress Through the A LB on Wednesday night at 9 o'cl Lro) nier wi 8] k over WEAF. i Howe Elected to Exchange. ‘The board of governors of the Wash- ington - StockExchange today elected Charles E. Howe, treasurer of the American Security & Trust Co., 2 mem- 2 1 Callahan Zinc & L. £1% Calumet & Ariz (10), 29 Calumet&Hec(ad%). 19 Campbell Wyant (2). 72% 63% Canada Dry G A (5). 6% 187% C'anadian Pac (10)... 27 Cannon Mills (2.80)., 18% Capital Adm (A) 5 31 Capital Adm A pt 2 12 5 3 43 73m 20 2164 5 32 1 25% 1 & 249% 192% Case (J 1) (6) 68% 54 Caterpilir Ti 56% 35% Celotex (3).... 3 71 Celotex pf (7) .. « 10 2391 . 2 685 66% 65% 16 84 214 31% 26% 35 234 79 3% 3% 216 216% 31% 32 2B 2T% 35 236 6614 o6% 50% 53% b2% 834 77 30% 16% 28% 34 61% B4 56 92% 142% 41% 81 26'% Inspiration (4)...... 134 Insurance Shars 45c. 26 Interlake Iron (1)... 20% Interboro Rap Tran., 56% Intl Cement (4) 5 Int Combustion 30 Inter Comb Eng pf. 78% Intl Harvester (234). 140% Intl Harv pf (7) 31is Int Hydro El A (e2). 65% Intl Match pf (4).... To accommodate the many Payday patrons of Our Savings Dept.,, we will remain OPEN UNTIL 30 PM. TODAY One Dollar or more will REALTORS 809 15th St. N.W. District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company < &5 30% Cent Alloy Steel (2). 18 33% 33% 33% 33% 110 105% Cent Alloy 8t p£(7).. 708 108% 107% 107% 10714 5 3% Century RIDMIllS... 2 4% 4k 44 4% 60 53% Cent Rib Mills pf (1) 108 57 57 B9 65% 59 Cerro de Pasco (6).. 62 61% 11 36 Cbecker Cab (4.10) 237% 203 Ches & Ohi0 (10).... 76 63% Chesapeake Corp (3) 5% Chi& Alton Df..eeun Chi & East Il pf. . Chi Great Western a4% 30% 25 Intl Mer Marine (1).. 40% 31% Int Nickel of Can (1) Intl Pap & P A(2.40). 12% Intl Pap & PwrC. 53 46% Intl Printing Ink (3) 32% 29% Intl RysCent Am 69 Int Salt (6). 61 IntlShoe (3)...... 106 Intl Silver (18) 106% Intl Silver pf (7 76% 62% Int Tel & Teleg (3, 30 Inter Dept St (2)... n 72% Inter Dntsmtnflx :(1 24 Chi Mill St P&Pac... 2 Investors Equity(2). 41% Chi Mill St P&Pac " Island Creek Coal(4) 84 Chicago & N W (5).. 43 Jewel Tea (4) 5 51% Chi Pneu T pf (3%). 148% 117 Johns-Manville (3).. 125% 114 ChiR1& Pac (1) . 2 1 120 Johns-Manv pt (7).. 102% 100% Chi R1& Pac pf (6). 1103 102% 103 118% Jones & Laugh pf(7) 10s 108 107 ChiRI&Pacpf (7). 2021 108% 108 108 2 Jordan Motor Car... 25 St 20N TN TSUDWARENS). - (208 (6B 138 109% 108 K C P&L 1t pf B(6). 10s 67% 57% Childs Co (2.40). 63% 18 Kaufmanm)DS (13%) 4 41% 33% Chrysler Corp (3)... 34 Kayser Jul 49 40 City Ice & F' (k3.60).. 3 KefthoAlb 98% 96 City Ice& F pf (6%) 10s 10% #% City Stores (1) . 2 38% 33 41 Cluett Peabody (6).. 1 36 36% 36 37 147% 133% Coca-Cola (4).... 5 1487 146 148 147% 45% 14% Collins & Alkman, 2 33% 31% 33% 324 57 36% Col Fuel & Iron (2 30 56% 56 Bb 65% 93% 170% Col Gas & El (2) 182 92 88w 92 B9 | 31% 24% Columb Graph (87c). 119 29% 28% 29% 29% 196% 168% Columbian Carb (16) 21 186 177% 186 177% 43 23% Com Credit (2) 12 31 30% 30% 31 31% Comm Credit A 39% 39% 39% 40 76% Com Crd 1st 87 87 87 864 36 Coml Inv Tr 4T% 46% 46% 4T% 11 ComInvTrstwar... 10 19% 18% 18% 19 89 ComInvTrpf(6%). 2 92 92 92 92 99 Com InvTrpf (7)... 308 100% 100% 100% 100 27% Comm Solvents (1).. 91 31 29% 31 29% 12% Comwlith&Sou(60¢). 289 17% 17 Col it Pub (2).. 46 m-Nairn. .. 16% 5014 ber of the exchange. Mr. Howe is one of the best known bankers in Wash- ington and takes the scat left vacant many months ago by the death of Charles J. Bell, for some ‘40 years con- nected with the same bank. Mr. Bell Tarely ever missed a session of the ex- change and was one of the largest traders, always having many orders from the bank’s customers awaiting ex- ecution, Trading was quiet on the local board today. Ten shares of Merchants Transfer & Storage preferred sold at 99'% and 800 shares of National Mort- gage & Investment preferred came out at 4%. Railway & Electric preferred sold at 9614 while an odd lot of Wash- ington Gas Light stock moved at 110, In the bond division $2,000 Potomac Joint Stock Land Bank 55 sold at 93 l‘(;’sd’\‘ $500 Washington Gas B 6s at open a vings account. 3% on Savings 61% 62 14% 48% PTRSE MORTGAGES CONSISTENT EARNINGS o 40% 26% 464 89% 15 s 5 86 808 OUT OF SPECULATIVE INFLUENCE % 2 123% 123 124 10214 120 107% E A liberal yield with principal soundly secured; certain income; prompt return of funds at maturity, when desired, . ... and never a deviation from the factors of safety that protect your investment. The “safety zone” in invest- ments is represented by our Heard ip Financial District. David H. Houston, trust officer of the American Security & Trust Co., and J. iot Moran, assistant trust officer, will attend the Midwinter trust conference which opens at the Commodore Hotel in New York tomorrow and lasts through Wednesday. Several other local bankers will attend the same sessions. J. A. W. Iglehart & Co. has publish- ed special analysis of American To. bacco class B common and United Light & Power class A common stocks. January building permits in 566 cities were 17 per cent below December and 46 per cent under 1929 month at $127,685,004, 5. W. Straus reports, ADVERTISING TO SET NEW RECORD IN 1930 Expenditures for cigar advertising in 1930 will be larger than in any previous year, according to a study of the industry ‘completed by Otis & Co. 2 9 Clark Equipment (8) 1 37% 82% Kendall Co pf (6) 664 Kennecott (5), r Radio. tPhCh (1%)... 4 31% Kresge(S8)Co(1.60). 110 Kresge SS pf (7) 23% Kreuger&Toll (1.34). 41% Kroger Gr&Bak(n1). 21% Lago Oll & Trans, 6%2% FIRST MORTGAGES No element of risk encoun- tered, and no variation in the amount and payment of in- terest. ver a Third of a Century Without a Loss FIRST MORTGAGE NOTES Particulars of available notes will be mailed upon request. Permit us to offer our facilities for the placing of your investment funds. H.L.Rust Conipany 1001 15¢th Street National 8100 BT MBS Rl (1 yrs B(15) Liggett & My pf (7)., 35% Lima Locomotive, Link Belt (2.60).. ... 524 Liquid Carbonto (4).. 42 Loew's, Inc (3) 314 Lott, Ine. 50% Loose-Wiles (2.60) 16% Lorillard (P) Co..... 924 Lorillard (P) pt (1).. 84 LoulsianaOfl..... 38% LouG&EIA (1%).. 82% Ludium Steel (2).,.. 40% McCall Corp (2%). .+ 65% MeCrory A (2). May be purchased in amounts from $250 up. B. F. SAUL CO. National 2100 925 15th St. N\W. rette companies early spent large sums for national advertising, cigarettes have rapidly gained in competition with the cigar, it is pointed out. During 1930, however, several producers will devote several millions of dollars, which have never before been spent for this purpose, to advertising cigars, 81 Cgr (16%). % Conley Tinfoll sta. % 15% Consol Film (3). . 200 76% Consol Cigar pf (7).. 10s 84 67 Consol Cgrprpt6%. 10s 78% 721 721 96% Consol Gas N ¥ (4).. 400 120% 117 120% 117% 99% Consol Gas NY pf(6) 8 1004 100% 100% 100 49 Consol RRCubpf(6) 1 69 59 659 b8 1 Consol Textile. . 3 12 Container Cor A 4% Container Corp 39 Contl Baking A. 5% Contl Baking B..... 88 Contl Baking pf (8) 50% Contl Can (234).. 28 Contl Dia Pibse<3 THERE IS NO SUBSTITUTE‘ FOR SAFETY