Evening Star Newspaper, February 25, 1930, Page 13

FINANCIAL) . Richmond District Figures 552:2’37 e o £ | 1 Dividend Rate. Add 00. High. Low. Close. 22 Abitibi Power & Pap. 2 201 2 Reveal Cut of $7,000,000 | .io 16i" toravam & sates aoc TR (o T S Sold in Lots—$100.00 Up Call or Write FINANCIAL.! THE EVENING STAR, WASHINGTON, D. C, TUESDAY, FEBRUARY 25, 1930. Minneapolis & Chesapeake Corporation reports P = Pennsylvania Railroad to start rail-|he vear ended December 31, net income bus service between New York, Phila-| 470,060 after interest and expenses, which shows those stocks to be sold in odd lots onty. e e e R T $2.48 in year 1928. ; 900,000 shares outstanding at end of Denv&RG W pf. Reading Co. January .net, $871,265,| " After payment of dividends surplus i i Standard Collateral Dri o () o) pathy w'th Breaks s mon stock in year 1929, against $2.58 o ‘ ) 4 charges, $127,8'0, against deficit of o'uo! cHEsAPEAKE coRP' ¥ a year ago, : St. Louls Rallroad - RESERVE REPORTS NEW YORK STOCK EXCHANGE ||STOCKS IRREGULAR (i o s o mme ™ wers szt in 120 Recelved by Private Wire Direct to The Star Office. ainst $22,214 a year ago. for 1 L Notice—All stocks are sold § -hundred share fots| —Prev.1930.~ 'Stockana Sales— DEEREASE lN lUANS excepting those designated by the leiter s (650 (2833). | Hish. Low. Dividend Rate. ~ Add 00, High. _ Fhillips Petroleun carned 8510 on o 3 oias | TR (SfeontUH o ST 1 156" Del'Casw aW . 18 Pro-pyhclac-tic Brush merger with | o Shdl Of year. el Aol i d e el 0 ST Market Sells Off in Sym-|Lambert Co, ratifled. 1928, i ek L ot against $1,345.017 a year ago. for year was $650,442, against $1,055,751 I Northam Warren earned $3 on com-|in previous year. Drug Corpn (4)..... RS A 23% Adams Expr (1.60) 438 During Week. BY EDWARD C. STONE. ‘The Federal Reserve Board's condi- | tion statement of weekly reporting member banks in leading cities, Febru- ary 19, issued yesterday, shows a de- crease for the week of §74,000,000 in an increase of $58,000,000 in investments decreases of $12,- 000, and $5,000,- 00C, yespentively, in net demand and 000,000 at all re- porting banks, $21,- 000,000 in the New York. distriet and $7,000,000 in the Richmond district, and increased $27.- 000,000 in the Chi- q. 5. Marston. district. “All other” loans declined $42,000,000 in the New York district, $11,000,000 in the Boston district and $61,000,000 at all reporting banks. s Marston Heads Investment Firm. ‘Hunter S. Marston, who was in Wash- |- ing during the latter part of the World ‘War as a member of the general stafl and afterward selected as a_military Tepresentative to accompany President ‘Wilson to the Paris Peace Conference, has been elected president of the Baneamerica-Blair Corporation, a New York holding and investment company. At only 44 years of age he takes the helm of his big concern, which was originaly known as Blair & Co. Inc. His father became a partner in the firm in 1890. The young man is a luate of Brown University and has connected with the concern for 22 years, January Auto Output Reported. ‘The. January production of motor vehieles in the United States, as report- ed to the Department of Commerce, was 273,089, of which 234,527 were pas- senger cars, 87,990 trucks and 572 taxi- in January totaled 10,388, of which 8,856 were passenger cars and 1532 ‘were frucks. This compares with output of 5495 cars and trucks in December :gd 21,501 cars and trucks in January, 29. Essay Contest Rules Announced. President Waller of the District Bankers’ Association has announced the -rules 3 - announced can be must not be over F3gRacy H Advance Rumley. the Seaboard Air Line, to- ith other securities, the entire about -$10,000,000. 000 shares of com- H!Hn('mtdll 892,630 shnum {mtnllfl 7 of of 1, af a share made to stockholders. The un- ting commission was $1 a share. Predicts Good C. & 0. Earnings. n or the quarter shoul Compare TWvOrkLiy with thie ot the same period a year ago, according to J. J. Barnet, it. The C. & O.s increased net in January Mr. Barnet considered particularly good. Referring to the large amounts writ- ten off by the Pere Marquette, one of the C. & O. lines, Mr. Barnet said that Bond Club Speaker Chosen. Eugene Meyer, jr, former head of the Pederal Farm Loan Board, manag- ing director of the War Finance Cor- ition under Presidents Wilson, Hard- g and Coolidge; banker and authority on international finance, will address the Bond Club of Washington at its monthly luncheon meeting Friday at 12:30 o'clock at the Carlton Hotel. Local Securities More Active. ‘The Washington Stock Market showed more activity today, although business Wwas only moderate, Thirty shares of Mergenthaler Linotype changed hands at 108%, Capital Traction opened at 86%, and closed down an eighth, while Potomac Electric Power 6 per cent pre- ferred sold in a small lot at 111, ex- dividend. ‘Twenty shares of Commercial Na- tional Bank stock sold at 239, two shares of Riggs moved at 526 and an- other at 527. District National Securi- ties preferred sold at 90 and closed at 90%. Merchants’ Transfer & Storage eomm%n changed hands at 109%. ington G . Gas 6s, serles B, sold in $1,000 and $500 denominations at 106%, while $500 and $2,000 series A bonds changed hands at 103. Chevy Chase Dairy preferred has been added to the local stock now being quoted ex- dividend. Meard in Financial District. ‘Townsend Scott & Son, Baltimore bankers and brokers, with Washington offices in the Woodward Building, offering 20,000 shares of Scott Corpora. tion $3 dividend cumulative preferred stock at $43 a share, to yield approxi- mately 7 per cent. The corporation has been formed under the laws of Mary- land, with powers to buy, sell, under- write, hold or trade in stocks, bonds or securities of any kind. to be a common stock issue. ‘The new office of the Postal Tele- graph in the Washington Building was opened today, and a host of callers «dropped in to look the place over. Flow- ers in profusion added greatly to the appearance of the office today. earnings of the Federl Reserve banks would be di- vided among the stockholders in pro- portion to the amount of stock held. Advance Rumley pi ¢ Abumada Lea Alr Reduction (3). Alr Way EL Ap(2%). Ajax Rubber Albany I W Paper. Alaska Juneau. Alleghany Corp Allied Ch & Dye(n§) Allis-Chalmers (3). . Alpha Port Cemt (3). Amerada Corp (2)..,, Am Agricul Chem, Am Argicul Ch pt. Am Bank Note (13), Am Bosch Magneto, , Am Brown Bov Elee. Am Can (4).... Am Chicle Co (12 Am Com Alcotn1.60) Am & For Powe Am&Forn Pwr 2d pt, Am Hawallan S § (2) Am Hide & Leather. . Am Home Prod(4.20) Am La F & Foamite., Am Locomotive (8)., Am Loco PEAT)eusnny ach & Fdy (T)u Am Metai (3) .- Am Piano. ., € Am Power & Lt (31) Am Pow & Lt pf (6).. Am Ra&Std San 1%.. Am Republics. Am Rolling Mil Am Suip & Com Am Am S Am Steel Fdy pt (7). Am Stores (2)... 5 Am Sugar RIg (6)... Awm Sugar Rig pf(7). Am Tel & Ca (5). . eli¥).aae Am Water Wks (ul), Am Woolen. . Am Woolen pf. Am Writ Paper ctfs Am Writ Paper pf (3 Am Zinc Ld & Sm Anaconda Copr (7) Anchor Cap 12.40) Archer-Dan- (2 Armour Del pf (7 Armour 11l (A).. Armour 1l (B) Armour 11l pf (7). Asso Appl ind (4). Asso Lry G (2%) Atch T & S Fe (10) Atch T&SF pf (5). AUG & W lndy AU Hefining (12) Atias Powder (4) Auburn Aute (J¢). Austin Nichol: Autosales Aviauon Ce Baldwin,Loco (1.76). Baldwin Loco pf (7). Balumore & Unio (7) Balto & Ohio pf (4),. Bang & Aroos (34).. Barker Bros(2) Barusdall, A (2). Bayuk Cgr 1st pf. Beacon Uik, B'trice Crea Beech-Nut Pkg(2) Bendix Aviation 1), 107 Best & Co (2 Bethlenem Borden Co (k3) Borg Warner Botany Con M (A)... Briggs MIE. .ovueans Briggs&Stratton (2), Brockway M T, Bikiyn-Munhat (4). .. Bklyn Union Gas (6) Bruns-Balk-Col. Bruns Ter & Ry 8. Bucyrus krie (1) Bucyruscv pt (2%). Budd (5G) MIgal). Budd Wheel (1), Bullard Co (1.60). Bulova Watch ()... Burr Add Mach (1).. Bush Termni (23%).. Bush Term deb 7)., Bush T Bldg bt (7).. Butte Copper & Zine. Butte & Superior (2) Butterick Co. . Byers (A M), % Calif Packing (4). Callahan Zine & L. Calumet & Ariz (6).. Calumeticteciad ). Canada Dry G A (b).. Canadian Fac (10)... Cannon Mills (2.80).; _Capital Adm (A) % Case (J 1) (6). Caterpillr Trac 13% .. Cavanagh-Dobbs. Celotex (3). . Celotex pf (T)eaves Cent Alloy Steel (2) Cent Alloy cifs (2).., Ceut Alloy 5t pf(7).. Century Kib Milis. Cerro de Pasco (6) Certain-teed Prod... Chbecker Cab (4.40)... Ches & Ohlo (10).... Chesapeake Corp (3) Chi & Alton. Chi & Alton p! Chi Great Western, Chi Great Westa pt.. Chi Mill St P&rac. .. Chi MIilL St P&Fac pt Chicago& N W (5).. Cht Pneu Tool. . Chi R L & Pac pt (7). Chrysler Corp (3). City lce & F' (k3.60 CCcast \ Clev & Pitts (31%) Coca-Cola (6)..veuve Coca-Cola A (3). Collins & Alkman. Col 'uel & Iron (2).. Col Gas & El (2) Col Gas & Kl pt A(6) Columb Graph (87¢). Columbian Carb (16) Com Credit (2)eessas Comm Credit A (3).. Com Cred pf B (2)... Coml inv Tr (§1.60). Com Inv Tr pt (6%4). Comm Solvents (31). Comwith Power((4). Comwlith&Sou(60¢) .. 8% Comm & Sou pf (6).. Conde Nast Pub (2) Congoleum-Nairn. ., Congress Cgr (16% ). Consol Film (2) . Consol Film pf €2). % Consol Gas N ¥ (4).. 3 Consol Gas NY. p2(5) « Consol Textile...... Container Cor A 1.20, Container Corp B. Contl Baking A. Coty, Ine (k2). Cream of Wht(13%). Crown Cork & Seal. . Crox s 3 NaRERENEENRRASNG A Duplan Siik pf (8). . Du Pont de N (14.70) Dupont d N deb (6).. Eastman Kodax (18) Eaton Axle & 8 (3).. Elec Auto Lite (6). Electric Boat. El Pwr& Lt (1 Elec Storage Bat Elk Horn Coal pf.... Emp Capwell (2).... Endicott-John (6)... £ng Pub Serv (21).. Eng Pub Sve.pt (6).. Eng Pub Sve pf (%) & a 3 R RRevecrrsionnl % Erfe R R 1st pf (4).. 4 Erle RR24 pf (4).., Evans Auto L(32%). Exchange Buf (1%). Fash Park Asso (2% Federated Dept Strs. Fed Lt & Tr pt (6).. Fed M &S pt (7) Fid Pho Fire 1(2.60). Fifth Ave Bus (64c). Firestone T&R(1.60) Firestone T&R pf(6) First Nat Strs (2% ). Fisk Rubber........ Fisk Rubber 15t ptf. . Fisk Rub 1st pf cv, . Follansbee Bros (3).. Foster Wheeler (2) Foundation Co. s 3 " o Fuller pr ptf (17.94) Gabriel Snub A. Gardner Motor. Gen Amer Investo Gen Am Tnk Car(34) Gen Asphalt (4). ... Gen Bronze (2)...... Gen Cable A (4) Gen Cigar (4).. 1 Gen Cigar pf (7)....100s Gen Electric (1.60).. 344 Gen Elec spec (60¢).. 5 Gen'l Food Corpn (3) 16 Ger Gas&El A (te2). 12 Gen G & EIpf A (8). 208 Gen Gas&El B (ef2) 17 Gen Ital Bd w.i.a2.61 10 General MLl .o Gen Motors (13.30) Gen Motors pf (7). Gen Outd Ad vte (2 Gen Public Serv (b6) Gen Ry Signal (6)... Gen Refrac (t14%).. Gen Theat Equip vts 90 Gillette Saf Raz(n5). 117 Gimbel Brother: 1 Glidden Co (h2).. sandorsNaelkbtrorneeSrerranloteBantvannas 3 'y Copp Jee 2 Grand Silver Stra (1) 13 Grand Unfon....... 1 Grand Union pf (3) Granite City Stl (4).. Grant (W T) (1). Grt North pf (5). GtNectfsOP (a3%). Grt West Sug (2.80). Grigsby Grunow (2). Gulf Mo & North, Hackensack W (1%) 200s Hann Dept Stores... 9 Hanna pf (new) (7). Hartman Corp B 1.20 Hayes Body..... Hershey Choe (5) Hershey Choe pf(15) Hoe (R) 8C0...0vue Hollander & Son. Houdallle Her B (2). Housed F' pf 13.12% ., Household Prod(14). Houston Ol Howe Sound Hud&Man Ry (3.50; Hudson Manh pf(5 Hudson Motor (5). 4« Hupp Motor (£2). Illinots Central (7). Independ O1l & G (3) Ind Motor Cycle...,. 9 Indn Motorcycle pf. . 450; Indian Refining. Indian Refining cf Ingersoll Rand (4. Inspiration (4). Interboro Rap T Intl Agricultural. Intl Bus Mach (né; Intl Cement (4) Int Combustion. . Inter Comb Eng pf. Intl Harvester (2%4). Int Hydro ELA (e2). Intl Mateh pt (4).... Intl Mer Marine (1).. “Int Nickel of Can (1) Intl Pap & Pwr B Int] Pap & Pwr C. Int Pap & Pwr pf (1) Intl Printing Ink (3) 3 " oo e & N AEGET EETS- T ¥ P T = XE RN OO & anelfenofall CE-GLarabaOHE R Hoee In'st Dep Strs pf (7). Inter Dpt St pf x (7 Investors Equity(2). Island Creek Coal(4) Johns-Manville (3).. Jones & Laugh pf(7) Jordan Motor Car. Kayser Jullus (4) Kelly-Spring Tir Kelly-Spring 6% pf. Kelly Spring 8% pf.. Kelsey Hayes (2). Kelvinator Corp. Kennecott (5). Kinney (G R) pf (8). Y o Kresge(S8)Co(1.60). Kreuger&Toll (1.34). Kroger Gr&Bak(nl). o (- 2% 9 Lee Rubber & Tire. . Leh Port Cem (2% ). Lehigh Valley Coal., Leh Val Coal pf (3).. Lehn & Fink (3), . Libbey Owens (1). 2 Liggett & Myers(15) Liggett&Myrs B(t5) 3 Link Belt (2.60) . Lima Locomotive. 3 1 26% Liquid Carbonie (4).. Ludlum Steel (2). McAndrews&F 12.85, McKeespt T P(14%). McKesson & Rob (2), McKes & Rb pf(3%). Mack Trucks (6).... Macy (RH) & Co(n2) Man Shirt (2). Marlin-Rockwl B5% 81 28% Miami Copper (4)... Michigan Steel (2%). Mid-Continent P (2). Missouri Pac pf (5).. Mohawk C Mills (3).. Monsanto Ch (g1% ). Montgomry Wrd (3). 1 Moon Motors. ., 9% 79% 79% 147% 142! 60 3% 48 % 56% 21%% 171% 169% 5 BT 57% T 52% 864 42% T6% 26% 26 18 14% 81 52% 70 59 1021 ) e 20% 51% 81 28% Commodity Prices. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, February 25.—A fresh collapse in wheat and cotton prices to new low levels for the season, coupled with a sharp break in rubber futures, | unsettled the stock market again today after an early interval of strength which was featured by a brisk demand for the public utilities and a selected assortment of specialties. Early gains of 1 to 3 points were quickly cut down or wiped out, and by early afternoon the general market was reactionary losses of 1 to 5 points being scattered over a broad list. A firm opening of the commodity markets provided the background for the early recovery in stocks, with buy- ing also influenced by a series of f vorable dividend and earnings reports. The break in March wheat to $1 a bushel, or nearly 4 cents below- Mon- day's close, together with the decline of about $1.50 a bale in May cotton, which sold below 15 cents a pound for the first time this year, started a re- newal of selling pressure against stocks. Wall Street apparently was paying more attention to the commodity tick- ers than it has at any time in recent years, many speculators temporarily switching their activities to the grain and cotton markets in an effort to catch the swings. Commission houses reported a large increase in new accounts in their commodity departments, particularly on the part of so-called amateur specula- tors. A renewal of selling pressure against Simmons Co. carried that issue down more than 4 points to a new low level for the year below $63 a share, which contrasts with a high of $188 last year. Atchison, New York Central and Inter- national Harvester sold down 3 to 4 points, Auburn Auto dropped 5, Bullard Co. 5% and J. I Case 6%. U. S. Seel common, after selling above 180, sagged below 177; Consolidated Gas, May Department Stores and A. M. Byers also sold down 2 points or more, while a long list of others, including American Telephone, Westinghouse Electric, Northern Pacific, Union Pa- cific and St. Paul preferred, sagged a point or more below yesterday's final| quotations. 1 Corporation New: NEW YORK, February 25 (#).—The following is today’s summary of impor- tant corporation news prepared by Standard Statistics Co., Inc., New York, | for the Associated Press News Trend. Preliminary estimate of domestic | crude oil production in the week ended | February 22 is placed at 2,699,096 bar- rels, an increase of-23,107 barrels over output of the preceding week. This gain, as in the previous week, is at- tributed to the running of flow tests in California fields. Outstanding corporation item was the announcement of dividend increase by Coca-Cola Co. annual rate being ad-| vanced from $4 to $6. A particularly favorable earnings report was issued by | Phillips Petroleum Corporation merger of Prophylatic Brush Co. with Lambert | Co. ratified by stockholders. The Companies. American Commonwealth Power net for 12 months to January 31 before re- serves and Federal taxes, $3,887,252, against $1,287.459 in previous fiscal year. | American Tobacco January produc- tion of “Lucky Strike” cigarettes 698, 210,000 over a year ago. “Cremo” pro- duction currenily at 1,110,000 a day. Brockway Motor Truck receives order for 104 trucks from New York State Highway Commission; cost, $235,312. Brooklyn Union Gas earned $7.54 on common stock in year 1929 against $8.09 in 1928, i Brunswick Terminal & Railway Se- curities arrang! for acquisition of | ventrol of American Minerals Corpo- ration. Budd Wheel January sales, $1,172,922, about double December sales. Chesapeake Corporation now owns 814,600 shares Chesapeake & Ohio Rail- way common stock and 19,500 shares of Pere Marquette Railway common stock. Coca-Cola Co. 1929 sales, 26,981,874 gallons, an increase of 11 per cent over a year ago; declares quarterly common dividend of $1.50, placing stock on $6 annual basis, against $4 previously. Commonwealth & Southern January electric output up 2 per cent. Gas out- put up 6 per cent. Fall River Gas Works earned $2.87 on common stock in year 1929, against $2.23 a year ago. Federal Screw Works earned $6.05 in year 1929, Main Central January surplus, after Consult Us in 1928. Square D Co. earned $6.28 in year 1929, against $5.01 in 1928. Standard Ofl Co. of New Jersey in- ventories of affiliated companies on February 7 aggregated 71,643,891 bar- rels of crude and crude ofl products, a Gecline of 1,171,295 from a year ago. Standard Ofl Co. of New York—De- partment. of Justice to institute pro- Peedings testing validity of Vacuum Ofl M Uhited Engineering & Foundry re Unite - celves contract from Weirton Steel Co. or ail and structyral mill, to cost About §3,500,000, to be bullt at Weirton, W. Va. C. & P. TELEPHONE CO. PLANS IMPROVEMENT Special Dispatch to The Star. BALTIMORE, February 25—Im- provements to the telephone system in Maryland involving expenditures of $99,000 were authorized by the board of directors of the Chesapeake & Po- tomac Telephone Co. of Baltimore City here yesterday. The - facilities authorized, as an- nounced by R. K. Wheat, division com- mercial superintendent, include a num- ber of underground conduit and cable extensions in Baltimore. Other extensions mentioned by of- ficials include the construction of addi- tional toll circuits connecting Baltimore and Hagerstown, Baltimore and West- minster and Hagerstown and wumng; ton, at the Maryland-District State line, and other circuits connecting Ha- gerstown and Frederick and Hagerstown and Chambersburg, Greencastle and ‘Waynesboro, Pa., and Cumberland and Hyndman, Pa., in the State of Mary- land. CHICAGO DAIRY MARKET. CHICAGO, February 25 (/).—Butter easy; receipts, 19,729 tubs; creamery extras, 34; standards, 3412; extra firsts, 33a334: firsts, 32a32)5; seconds, 3la 31%,. Eggs steady at decline; receipts, 23,069 cases; extra firsts, 25!4a26; graded firsts, 24%%a25; ordinary firsts, 23a24. Many fur farmers are doing very well with muskrats. These have three to five litters a year with two to eight in cach litter. ‘Real Estate Loans Made Wm. Gordtn!: Buchanan Councilor & Buchanan National 6110-6111-6213 (Telephone Directory Omisston) Secured by First Mortgages Safe—Conservative 42 Years' work for you at the highest inter~ Experience est rate consist- l’:ill'l “a- l.n’ fl,z se- Make your savings and surplus funds ent with absolute DOmes satety. curities. Wm. H. Saunders Co. Inc. REALTORS Dist. 1015 1433 K e REAL ESTATE LOANS e o Large and small First: Trust loans negotiated promptly at prevailing rates and commission. O @ FIDELITY MORTGAGE INVESTMENT CO. 507 11th St. N.W. National 2431 Regarding . Your Maturing Mortgage. LONG-TERM REAL ESTATE LOANS WE MAKE FIRST MORTGAGES ON Homes, Apartments and Business Properties in the District of Columbia and N RANDALL H. HA Mortgage Loan rby Maryland and Virginia NER & COMPANY, INC. 1321 Connecticut Avenue Decatur 3600 Correspondent New York Life Insurance Company F. B. KEECH & COMPANY Members of New Orleans Cotton Ezchange Exchange, Ltd. (Assoo. Membera) Bremen Cotton Exchange (Assco. Members) Winnipeg Chicage Board of Trade New York Cotton Exchange Liverpool Cotton ' Rubber Exchange New York Stock Exchange ’ New York Curb Market of N. Y., Inc. ‘Washington Stock Exchange ,COTTON Special attention given to spinners’ requirements and the execution of orders for Future Delivery on all Cotton es of the world, H CORNER 17TH ST., N. W., WASHINGTON NEW, YORK ! Shares Corporation Rose-colored shirts are worn ml Met. 8783, ris. | i Announcement CULL & CULL Attorneys at Law AND The Home Title Insurance Co. OF THE DISTRICT OF COLUMBIA Jupson T. Curr Jupsox T. CuLt, JR. CHALMERS F. GROFF President Sec’y & Treas. Asst. Secy. and Treas. Announce the Removal of Their Offices From the Equity Building, 319 John Marshall Place, To the Columbian Building 416 5th St. N.W. Complete Investment and Brokerage Service Copy of Our “Fortnightly Review” Furnished on Request G. M.-P. MURPHY & CO. Members Nw York Stock Exchange 1510 H Street Connecticut at K WASHINGTON Telephone National 9600 New York Philadelphia Richmond FIRST MORTGAGES UNAFFECTED BY THE ETERNAL QUESTION The eternal question mark concerning future trends in security prices does not cast its shadow on our 6%,% FIRST MORTGAGES These do not fluctuate in val- ue. Neither is the owner con- cerned with administrative de- tails or coupon clipping. We care for all matters concerning the real estate properties and mortgages which secure the in- vestment and assure the pay- . ment of both principal and in- terest when due. Over a Third of a Century Without a Loss May be purchased in amounts from $250 up. B. F. SAUL CO National 2100 925 15th St. N'W. THERE IS NO SUBSTITUTE FOR SAFETY An Investment Opportunity First Industrial Bankers, Inc. Participating Preference Stock ($2.00 Cumulative Dividend) The unusually attractive features of this Non- Callable Participating Preferred Stock afford the . investor: Security of Principal Assurance of Income Participation in Profits Priced to yield over 7% Circular Upon Request C.T. Williams & Comp;ny. Ine. Baltimore Telephone Plaza 2484 10 16% 16% 164 3 Mother Lode 205 113 118 118 113 Iothor Tas Je00):~ ol 364 3TH AWM e UCoRSiDNSA 0D i 2 1% 1% ) 46 1% PROVIDENCE T