Evening Star Newspaper, March 10, 1930, Page 13

i STORE SALES GAIN IN FIFTH DISTRICT Five Per Cent Increase in|am" February Reported by Federal Reserve. BY EDWARD C. STONE. Department store sales for February tn the local Federal Reserve district were 3 per cent larger than in the corresponding month a year ago, ac- coring to reports from all 12 districts made by the Federal Reserve Board toda, Sales for the whole United States averaged 2 per cent lower than in the same period last year, the same state- ment says, the figures being based on summaries from 514 stores located in the leading cities of all the Federal Reserve districts. The fifth district report was made by 51 of the largest department stores in the leading cities in this territory, Washington and Baltimore playing an important role in the returns. 27 Increases; 24 Decreases. ‘Twenty-seven of the largest stores in this Jocality reported gains in sales over February of last year, while 24 similar | stores reported a decrease in their busi- ness in the same month. Just three districts out of the 12 re- ported better sales than last year. The Richmond district shared honors with the Dallas Federal Reserve district, both having a 3 per cent increase. The Bos- ton district was the other area to show t sales, the gain being 2 per cent. Sales fell off the most in Chicago, where city employes have had such a | desperate time to get pay for their | services. The decline in sales was 7 r cent. Cleveland came next, with a joss of 5 per cent. Comparisons by Districts. The percentages of increase or de- creases in sales in February, 1030, com- pared with February, 1929, by Reserve districts, follow: No. of Stores Reporting: c. —1 BLUSEARRENERR T Bank Smiles Valued at $1,000. A smile is a $1,000 asset to every one engaged in any kind of work, but espe- cially so to officers and employes of banking institutions, according to Roe Fulkerson of Washington, one of the speakers at the twenty-seventh annual of Philadelphia Chapter, Amer- lca ing. “Personality in Business” was the sub of Mr. Fulkerson’s address. He “The battle of business” is no longer a battle of dollars; it is one of per- Svery. o fiii“.;..‘""fim’%hé’“‘ tor ar ess to- is attracted by some individuals ty. A man who does business a an asset that is worth. & his employer than 4 4 ge & of last year. Aggregate debits for 141 centers, for which figures have been published ‘weekly since January, 1919, amounted 812, ‘precel week, and $2¥,080,000,f for the week énd- ing March 6 of Iast year. The ourrent number of Trust Come+ todsy at 239, Liberty National at 205, and Mergenthaler ex-dividend, at 106%. In the bond division Washington Rail- way & Electric 4s came out 86 and Metro Club 414s sold at 81 in the unliste department. EXCHANGE WILL CLOSE IN MEMORY OF TAFT By the Associated Press. NEW YORK, March 10.—The board of governors of the New York Stock Exchange today announced that the| Exchange would close at 12:30 o'clock tomorrow in memory of former Chief Justice William Howard Taft. The regular closing time is 3 o’clock. ‘The New York Curb Exchange will also close at 12:30 o'clock tomorrow, | instead of 3 p.m. DIVIDENDS DECLARED. NEW YORK, March 10 (#).— Hildrs. of record. M 3 ar. Mar. 31 pr. 1 R Mar. 19 Mar. 18 in one-hundred share lots f THE EVENING STAR, WASHINGTON., 'D. C, MONDAY, MARCH 10, 1930. by the letter 165s) (283s), mlu those designated shows those stocks to be sold In Sales of Each Stock Compiled Stock and Sales— Dividend Rate. Adams Expr (1.60).. 38 Adams Millis (2).... 2 Advance Rumley... 12 Alr Reduction (3) 16 140% Alr Way El Ap(234). 32 Ajax Rubber. 6 Albany I W Paper. Alaska Juneau. Alleghany Corp. Alleg Corp pt (5%) Alleg C pf (5% )3w. . Allied Ch & Dye(né) Allled C&DpL (7)., 1 4 Allis-Chalmers (3).. 130 Alpha Port Cemt (3). 5 Amal Leather. . Amerada Corp (2). Am Agricul Chem Am Argicul Ch pf. Am Bank Note (13). 2 Am Bank Note pt (3)110s 5 Am Brown Bov Eles. Am Can (4) Am Chicle Co (12%). Am Com Alco(n1.60) Am European Sec. .. Am & For Powe Am&Forn Pwr pf(7) Amé&Forn Pwr 2d pt. Am Hawallan S 8 (3) Am Hide & Leather.. Am Hide & Lea pf... Am Home Prod Am Ice Co (t4) Am Ice pf (6) Am International (3) Am La F & Foamite.. Am Locomotive (8)., » Do - (TIPS SEerrBhavantoantan Am Plano - Am Power & Lt (1) Am Pow & Lt pf (6). Am P&L pf A st (5). AmP&LptA (3%) Am Ra&Std San 1%. Am Republics. Am Rolling Mill (3) Am Safety Razor (5) Am Seating (2)..... Am Shipbuilding (8) Am Sm & Ref (4 Am Solvents Chem. . Am Sol Ch ev pf (3). Am Steel Fdy (3)... Am Sugar Rfg (5)... Am Sugar Rfg pf(7) Am Tobacco (B) (). Am Tobaceo pt (6). . Am Type Fdry pt(7) Wik Anaconda W&C (3) Anchor Cap (2.4 Anchor Cap pf (6%). Archer-Dan p£ (7). Armour Del pf (7).. Art Metal Const (12) Artloom pf (7). DG 1st pt(6).. DG 2dpt (1).. 32 Asso Oll (2) 1o 219% Atch T &S Fe (10).., 102% Atch T&SF pf (5)... 110 175% Auburn Auto (J4) 3% Austin Nichols 45 Autosale: 4% Aviation Corp Del. 30% Baldwin,Loeo (1.76). 115 Baitimore & Ohio (7) 78% Balto & Ohlo pt(4).. 2 63 Bang & Arcos (3%). 2 110 Bang & Aroos pf (7). 10s 1 16% Barker Bros(2).....600 0dd lots only. to 12:30 P.M. Add 00. High. 334 28% 19% 80% T4% 10% 19 20% Barnsdall A (3)..... 63 24% s 98 97 Bayuk Cgr 1st p£(7). 10 13 Beacon Oil. 4 4 60% Beech-Nut Pkg(2).., 4% ing-Heminway. 80 Belg N Ry pt pf 5.49. 32% Bendix Aviation (2). 122% Bethlehem St pf (7). 47% Bohn Al & Brass (3). 70 Bon AmiA (4). 60% Borden Co (k3) 32% Borg Warner (4). 99 Boston & Maine (4) 13% Briggs Mfg.... 21% Briggs&Stratton (1), 23% Brit Emp St 1st pf. . 4% British Em St 2d pf. 5% 63 Bkiyn-Manhat (4. 131 Bklyn Union Gas (5) 40 Brown Shoe Co (3).. Col...ou 14% Bruns Ter & Ry 8. 22% Bucyrus Erle (1) 33% Bucyruscv pf (334). 9% Budd (EG) Mfg (1). 8% Budd Wheel (1) 29% Bullard Co (1.60) 100% Bush Term deb (7. 109% Bush T Bldg pf (7, “ 3 Butte Copper & Zin 3% Butte & Superior. 16% Butterick Co. 80% Byers (A M). 66% Calif Packing (4) T4% Calumet & Aris (§. 29 Calumet&Heo(ad%). 19 Campbell Wyant (2). 63% Canada Dry G A (5). 187% Canadian Pae (10)..: 2 inon Mills (3.80) ., % 115 Case (J I) Co pf (7). 208 129% 6 71 54 Caterpillr Trac t3% .. 8% Cavanagh-Dobbs.. 2 192 Chi Mill St P&Pac. 40% Chi Mill St P&Pac 84 Chicago & N W (5) 1384 Chi &N W pt (1) 224 Chi Pneu Tool. 33 Clark Equipme: 106 CCC&StL pt (6) 30 Cluett Peabody (5) 133% Coca-Cola (8). 364 Coml Inv Tr (g! 11 = Com Iny Trst war. 27% Comm Bolvents (31 12% Comwith&Sou(80e Stoek and Sales— Dividend Rate. Add 00. High. 19 68% Contl Insur (2.40). Continental Mq Coty. Ine (k2). Cream of Wht( Crex Carpet... Crosley Radio Cuba Co. Cuban-A: Cudahy Packing (4). Curtiss Wright Corp Curt Wright Corp A. Cushman's pf (7). Cutler-Hammr(3%). Davison Chem.... Delaware & Hud (9). Del Lack & W (17) Detroit Edison (8) Devoe & R, A (2.40).. Diamond Match (8). 2! Dome Mines (1). Dominion Strs (1. Drug Corpn (4)..... Duluth SS & Atl pf.. Du Pont de N (14.70) Eastman Kodax (18) Eastman Kod pf (6). Eaton Axle &8 (3).. Eftington-Schild Elec Auto Lite (6)... El Auto-Lite pf (7).. Electric Boat. Elec Storage Bat (5) Eng Pub Serv (11).. Eng Pub Sve pt (5).. Equitable Blde (234) Erfe & Pitts (3%) Brie RR.. Erle RR1stpf (4).. Erie R R 2d pf (4) Eureka CacCl (4)... Evans Auto Ldg 2%. Fairbanks Co pf.... 270 Fairbanks Morse (3), Fash Park Asso (2% Fed Motor Tr (80¢) .. Fed Wat S, A (e2.40). Federated Dept Strs. Fid Pho Fire 1(3.60). Filene's pf (634) Firestone T&R(1. Firestone T&R pf($) First Nat Strs (3%). Fisk Rubber........ Fisk Rub 1st pf ev. Follansbee Bros (3).. Foster Wheeler (3).. Fox Filmi A (§4).... Freeport, Texas (15) Gabriel Snub A, Gen Am Inv pf (6)... Gen Am Tnk Car($ Gen Asphalt (4 Gen Motors (13.30)., Gen Motors pt (1) Gen Outd Adv A (4 Gen Refrag (14%) Gen Theat Equip vis Gillette Saf Ras(nb). Gimbel Brothers. . Gimbel Bros pt (1).. Glidden Co (h3). Gobel (Adolf). Goodyear 18t pf (7)., Gotham Silk H (3%) Graham-Paige...... Granby Copper (8).. Grand Silver Strs (1) Grand Unfon..... GtNetfsOP (a3%) Grt West Grigsby Grunow (2), Guantanamo Sugar.. Guantanamo Bug pf. Guif Mo & North. ... Gulf Mo & N pt (6).. Guif Sta Steel (6).... Hahn Dept Stores. .. Hahn Dept 8 pf(6%4). Hamilton W pf (6).. Hanna pt (new) (7). Hartman A (2)...... Household Prod(t4) Houston O1l. Howe Sound % Hudson Manh pf(§). Hudson Motor (5) Hupp Motor (£2). Independ O1l & G (3) Int Combustion... Inter Comb Eng pf. Intl Harvester (3% Intl Harv pf (7) Int Hydro 1 A (e2). Intl Match pf (4)..00 Intl Mer Marine (1).. Int Nickel of Can (1) Intl Pap & P A(2.40). Intl Pap & Pwr B. Intl Pap & Pwr C, Intl Printing Ink (3) Intl Print Ink pf (6) Int Salt (6)... Intl Silver (18). Intl Silver pf (7). Jewel Tea (4)....000 Johns-Manville (3). Joliet & Chlcago(7) . Jones & Laugh pf(7) Jordan Motor Car... Kan City Sou pf (4).. Kayser Jullus (4)+.e Keith-Albes-Orph. .. K#ith-Albee-O pt (1) Kelly-Spring Tire.., Kelly Spring 8% pt. Kelsey Hayes (2)... Kelvinator Corp Kennecott (6)...... Kimberly-Clark(13). Kolster Radio. ...... Kraft PhCh (134) Kresge Dept Store; Kresge(85)Co(1.60). Kress (SH) (1)...... Kreuger&Toll (1.34), Kroger Gr&Bak(nl). Lago O11 & Trans.... Lambert Co (8). Les Rubber & Tire, . Leh Port Cem (33%). Leh Port Cm pt (1).. Lehigh Valley (t434) Lehigh Valley Coal.. Leh Val Coal pt (3). Lehn & Fink (3) Libbey Owens (1) Ligg 0% Myers(16) 1 11 LiggettaMyrs B(16) 41 1% (Continued on Page 14.) % Many New Highs Recorded STOCK PRICES SOAR IN ACTIVE MARKET as Buying Movement Spreads. BY STANLEY W. PRENOSIL. Associated Press Financial Editor. NEW YORK, March 10.—~The m;ck arket moved into new high ground for :,‘l!le year today in a broad buying move- | ment which started with the amuse- ment shares and quickly spread to the steel, office appliance, building material, merchandising, food, tobacco, ofl and | motor issues. Although the gains were unevenly distributed, more than three- score issues were elevated to new peak mces for the yell‘l cl]:l2 ‘;};‘;;'gu rang- from 1 to nearly 3 Some irregularity developed during the morning when selling pressure was re- newed against Simmons Co., Which broke to & new low, and several of the public utility stocks, which declined 1 to nearly 3 points. Trading was dull on the decline, and offerings quickly dried up. Lowering of the call money te from 4 to 3'4 per cent, coupled with the announcement of an increase of 11,000 tons in the unfilled orders of the United States Steel Corporation last month, stimulated the afternoon recovery. Doubts Rumors. Wall Street was inclined to doubt rumors of & huge merger of amuse- ment companies which accompanied the rise in the stocks, because of reported Government opposition. Shubert Thea- ters, which was mentioned in a pro- posed hook-up with the Erlanger in- terests, ran up 6 points to a new top at 18%. Pathe A, Keith-Albee preferred, Consolidated Film preferred and Radio- Keith-Orpheum advanced 3 to 513 points to new peak prices. Radio Cor- poration common, Warner Brothers Pictures and Paramount-Famous-Lasky also reached new high ground. J. 1. Case soared nearly 12 points to a new top at 204%. People's Gas, CHAIN STORE SALES. Chain store sales of the first 48 com- panies to report for February totaled $159,925,266, an increase of 7.9 per cent over the corresponding month of P}:r m:he‘ 'flnt mmmontmn wuox o compan! zgl.d}fi, A‘n l;:crene of 9. e like . This ascribed Dflnem to Lhe“nl:w stores aded since a year ago. Things Look Better Now . . » especially the new Rogers Peet Suits and Topcoats for Sprin’ oos they’re the best “buy” on the “market” . . . ... If you watch the style reports you'll find that Rogers Peet em- bodies every new, fash- ionable detail in their own famous imported materials. . . Rogers Peet Hershey Chocolate ferred, Kodak, Southern ilway, Mobile &. Ohio, Allis Chalmers, Underwood Elliott Fisher and Worthington Pump reached new high ground on gains of 4 to 7 points, Celotex was run up 4% points to a new high at 60 on the announce- ment ‘that & vice president of the General Motors Corporation had been elected to the board. The company recently has been negotiating with Gen- eral Motors for a large contract for insulating material for ires. Gimbel Brothers, which is again the subject of a department store merger rumor, moved up more than 2 points to a new m"tl: l{wl :gt Mexican otnl.lr:d was heavily bought on - portant developments in its Califérnia properties, crossing 28 to a new peak: United States Steel common, after yielding fractionally to 180%, ran up to 483%. Youngstown Sheet & Tube, which is engaged in merger negotiations with Bethlehem Steel, ran up 8 points to & new high at 150, with buying stimu- lated by unconfirmed rumors of com- petitive buying as a result of the re- luctance of the Eaton interests to aban- don their plan to include that company in the new Republic Steel merger. Van- adium was marked up nearly 5 points to a new high. The with ning t Over a Third of a Century Wifhau; [ Loss 6%2% cause of fix National 2100 THERE IS NO "SUBS Escape By A GOOD START TO money, and there are many in- dependent country that owe their begin- fered by first mortgages. You'll find our the fortune building kind—be- furnish reliable security—and may be purchased in-amounts from $250 up. B. F. SAUL CO. Clothes are exclusive at Meyer’s Shop in Wash- ington . [ Rogers Peet Suits $45 upward [ Rogers Peet Topcoats $50 upward Megcr’s Shop 1331 F Street A FORTUNE old saying is true that money you can make fortunes in this o the safe investment of- FIRST MORTGAGES they pay a liberal interest ed and definite amount, 925 15th St. N.\W. TITUTE FOR SAFETY Autotomy HEN a lizard is caught by the tail he instinctively resorts to autotomy— that 1is, he goes away and you are left with his tail. The breaking away of the tail from the lizard's body helps the lizard to get out of the enemy’s reach. speculators caught in Thousands of the breaking-up of the stock market recently emulated the lizard and sold out at any sacrifice in order to salvage something of their savings. —aAnd unless you plan market by “autotomy,” capital only in those to escape a drop in the you should invest your securities which are always sound, never affected by stock market movements, and unfailingly pay their hand- some interest return to the investor—the First Mortgage Notes sold through the Swartzell, Rheem & Hensey Company. of some of '.he.t"ine:f. ;opeflihl ’ll‘wwgdnflm P! les fon, and yield » steady Income of § per ca: yearly. For more than 60 years these Notes have been offered to denominal and $10,000. the public, and in all been lost in SWARTZELL, RHEEM & HENSEY CoO. MORTGAGE BANKERS \12.1 15 STREET N.W./ WASHINGTON D.C. FINANCIAL. 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(A Delaware Corpo- ration) to act as a committee have consented so to act for the protection of the interests of such bond- helders. THE NECESSITY FOR A COMMITTEE IS DUE TO THE FOLLOWING FACTS: 1—Bondhelders are widely located throughout the United States 3 cannot effectively protect their interests ert with each other, through a u-mm 2—Legal proceedings instituted against the company and its principal officers and directors in ‘Washingto: C.; Wil mington, Delaware, and New Yerk, in which charges of waste smanagement are made, and for the ap- charter. 4—The F. H. Smith Co., Inc., has been temporarily enj s ured by certain properties in Buffalo, New made by the Attorney Gemeral of the ted against the com- pany and several of its prinei officers and directors. In view of the critical condition of the affairs of the :‘on:rny, the committee is convinced that the interests. depositing their bonds with the BROAD TIONAL BANK & TRUST COMPANY of 261 Fifth Avenue, New York, N. Y., which has been designated the DEPOSITORY of the Committee, and which will issue depositing bondholders its negotiable receipts. WASHINGTON, D. C.—SUB-DEPOSITORY BANK OF COMMERCE & SAVINGS 7th and E Streets Northwest Washington, D. C. The Fidelity Trust Company of Pittsburgh, the Aldine Trust Company of Philadelphia, the Bank of Commerce & Savings of Washington, D. C., are all sub- depositories for the committee, and bonds can be de- posited with either the principal depository or the above-named sub-depositori Bondholders whe deposit their bonds will be kept promptly informed of all matters affecting their interest. SOSKEY, SCHI Cm' ‘.. g.lmflu Chairman, s OO paio Tamms, woom, ruare. 5 fomk T ., Bhlisdciohls. bondholders can only be conserved by tly - . WKY NA- R o )