Evening Star Newspaper, March 13, 1930, Page 13

D. C., THURSDAY,. MARCH 13, 193, A FINANCIAL., THE EVENING STAR, WASHINGTON, MONETTE Ton At o ] et B t LOAN N T s Blde. onal asie. 0% ’ by far the best all ‘round ; ' investment beesuse it car ries with it that element of safety which is generally ~Prev. 1930.~ Stock and Bales— High. Low. Dividend Rate. Add 00. High. Low. 144% 140 Corn Prod ptf (7)....100s 144 Coty, Ine (X3)....e.. Cream of Wht(13%). Crex Carpet. Notice—All stocks are sold in one-hundred those (National share fots ited by the letter s (65s) (2839), DG IVPROVES || NEW YORK STOCK EXCHANGE | ;| STOCK PRCES RE OND. . EXCHANGE s e e e =/ AFTER EARLY DRUP Capital Traction and Bank |men tes. ~ Dividend Rate. sada s men hoas: "|Market Turns Upward in 22 Abitibi Power & Pap. 20% v Stocks Are Featured in Afternoon on Rumor of Dis- 3 29% o Day’s Turnover. count Rate Change. lacking in investments of higher yield. FIRST MORTGAGE 234 Adams Expr (1.60).. 54 11% Advance Rumley. 10 17% % Ahumada Lead. Alr Reduction (3)... Alr Way El Ap(3%). 1% Ajax Rubber. . 7 Alaska Junead. BY EDWARD C. STONE. Trading was much improved on the ‘Washington Stock Exchange today in both divisions, About 50 shares of Capital._ Traction changed hands at 8% Albany I W Paper. 23 Alleghany Corp..... 95% Alleg Corp pf (5%).. 99% Allegh’y C pf ww 514 121 Allted C&Dpf (1).. 49% Allis-Chalmers (3).. Curt Wright Corp A.. Cutler-Hammr(3%). 8% Davison Chem... BY STANLEY W. PRENOSIL, Associated Press Pinancial Editor. NEW YORK, March 13—Expecta- fons of a cut in the New York Federal 1y eserve rediscount rate after the close o8 today's market provided the back- NOTES e it 2814 Alpha Port Cemt (3). Bank sock s0ld at s 18 Amerada Corp (2)... 5':4 and _another Am Agricul Chem.., share at 523. 'Ten Am Argicul Ch pf... hares of Com- Am Bank Note (13). n .rcul National Am Beet Sugar.....: m:m out at 239 Am Bosch Magneto. . Natlonal Savings & Am Brake Shoe(2.40) 1‘:unllln appeared b o Am Brown Bov Eleo. on the board, 10 bk S ) s . shares moving at A:Ch:w )..’. . 545, against the cle Co (1234). last sale at 515 Am Com Aleo(n1.60) Potomac Electric Am Buropean Ses. .. Am 'or wer. Po“fll:r:; rolrdn:: Am Hawatian S 8 (3) 107%, 200 shares Am Home Prod(4.20) of National Mort- fi’nn: {:-x vt (:l)a.....l, e gage & Investment p ;. Fischer Am Locomotive (3. preferred came out ¥ rpd oty - at 47, 20 shares of Real Estate Mort- P = gage & Guaranty preferred sold at 7 Am Power & Lt (313 2nd 10 shares of Carpel Corporation at e In the bond division, Washington AmPALpea BY) Railway & Electric 4s, Washington Gas Am Ra&Std San "‘- issues and Capital Traction 5s figured b R.“b““_"“: in the day’s transactions, selling around ey recent levels. AR BaTAtS G (8) Fischer, nger. Am Ship & Com..... s ,‘1:;;’ ::h\:;:.:ppomted Am Shipbullding (8) AmSm & Ref (4)... manager of the &W;Mnfirmn F&s‘t‘r:rcth:: Am Sm & Ref pf (7). been engaged in department store work B e xe for many years with several of the Am Steel Fay (3).... ercantile houses in the coun- ltlr;““ by - with SesTe Am Steel Fdy pf (7). Roebuck, he has m: Am Sugar Rig (5)... the company's largest te::e:‘tagf Am Bumatra %) lishments. Am Tel &Ca (5).eee. 1 Mr. | Fischer” will have under Mis . jurisdiction. the Washington store and Am Tobaceo pf (8).. a:uo Iuchmmdmltou as well u“t:::p;:; Am Type Fdry (8) stores burg, 1 News, Norfolk, Roanoke, Va., and Wil+ Am Water Wiy (ai}, Wats mington, N. C. gy In Washington will be concentrated the district administration offices of operating, m¢ ad and accounting divisions, under Mr. Fischer's direction. « 6%, giyund for a brisk advance in prices in tolh1y's stock market. Flurries of selling sweyot through the market at intervals bec‘use of the disappointing nature of some of the recent trade news, but offerdngs were well absorbed, and opera- tors for the advance succeeded in maini#ining the upper hand. Reyfval of speculative activity and streng®h in the oil shares, a dozen of vng wnoved into new high ground for the yea\, featured the day's gnroceedlnf Buying af this {;oup was stimulated by the shary drop In crude production last week. Ejuston was marked up nearly 5 points o & new top at 863, Skelly citmbed ryore than 2 points to a new high at 2:%7%, and Standard Oil of New Jersey, Gederal Asphalt and Indian Re- fining sold 2 points or more above Ym- day’s final quotations. Barnsdall, Sin- clair, Stand.urd Oil of New York, Atlan- tic Refining, Pure Oil and Independent Oil & Gas were among the stocks to attain new 1%30 peaks. Call money' renewed unchanged at 4 per cent, but dropped_to 3'; in reflec- tion of the heefvy accumulation of funds here in conne ttion with March 15 in- come tax payrpents. Bankers' accept- ances were redisced ' of 1 per cent. owpEannSonn Dominion Strs (1.20) Drug Corpn (4) Dunhill Inter (34). Duplan Silk (1) Eastman Kodak (18) Eastman Kod pf (6). e B ER TS PN ST El Auto-Lite pf (7).. Electric Boat. . El Pwr &Lt (1), [Elec Storage Bat (§). Endicott-John (5)..s Eng Pub Serv (31)... Eng Pub Sve pt (5) Eng Pub Svo of (6%) Eng Pub Sctfs (11).. ErieRR.....000 Erle RR2Apf (4).0» Eureka Cac Cl (4)..v Evans Auto Ldg 2%. Exchange Buf (13%). Fairbanks Co. Fairbanks Co Fairbanks Morse Fash Park Asso (2% Fed Lt & Tre (31%). . . . for this time of the e e s e e year when rain, cold and MORTGAGES wind play havoc with our health . ..a Rogers eet Scotch Mist* Topcoat will give you “weather insurance” . . . FIRST HIGHLY SAFETYIZED Any financial adviser will commend investment in First ,Mortgages — especially where assured income is desired. Our 6,% FIRST MORTGAGES qualify under all expectations— secured principal—with liberal interest, unvarying in amount and regular in payment. > . . . Scotch Mist* fab- rics, imported from Scotland, are so scien- tifically woven and treated that the Top- coats are guaranteed waterproof . . . besides being “weatherproof,” Scotch Mists* contain all the style and ease that modern smartness demands . . . Scotch Mist* Topcoats, $60 . . . of a *Reg. U. S. Pat. Of. Century ° Without a Loss - s Seafe Fue~Swnm INDUSTRIES IN FAR EAST BOOST COTTON EXPORTS Despite domest'lc consumption, more than half of the American cotton crop is manufactured itg foreign mills. A summary by the textile division of the Department ¢ Commerce shows i, | how conditions in E\rope brought a de- crease in exports diring the war and postwar years but Ricreased in recent years. The increase is leirgely attributable, the department foungl, to rapid exten- sion of cotton manufacturing in the Far East. Sw Firestone T&R pf(6) First Nat Strs (2%). Fisk Rubber. Over a Third B Florsheim Shoe A. Florsheim Shoe pf Amft Writg Pa Bf(l; Am Zinc Ld & Sm. SILVER QUOTATIONS. NEW YORK, March 13 (#)—Bar sil- ver, 41%3. Mexican dollars, 30%. i Rogers Peet Suits INVESTMENT iRUSTS. $45 upward NEW YORK, March 13 the counter market: e Meyer’s Shop 1331 F Street May be purchased in amounts from $250 up. : =8 CoONEHNINNINO DA ANBANR TSR creation of the Wi ngto trict,” sald Mr. Fischer. “We shall, of course, continue to secure our employes locally for each store insofar as is pos- sible, and there will be no difference in the contact with the business life of the various cities in which we are do- ing business. “The creation of the Washington dis- trict means that the Gen Am Tnk Car(34) Gen Asphalt (4). Gen Bronse (2) Gen Cable. Gen Cigar (4). Gen Electric (1.60) Gen Elec spec (60c).. 461 Gen'l Food Corpn (3) ¥ Gen Gas&El A (fe2). GenG&EIpIA (7). Gen ltal Ed w.l a2.61 General Mills (3). - Diversified Trustee Shares A versified Trustee Shares versified Trustee Shares C Fixed Trust Shares A 'B. F. SAUL CO. 925 15th St. N'W. National 2100 3 Gen Print Ind (23%). 32% Gen Public Serv (b§) 86% Gen Ry Signai (5)... 67 Gen Refrac (t43). 89% Gen Theat Equip vts. 874 Gillette Saf Raz(n5). 114 Gimbel Brothers..... 66% Gimbel Bros pt (1) 31 Glidden Co (h2). 18 Gobel (Adolf). 46% 87% Gold Dust (3% 308% (Wold Dust pe 1% rich B F (4) S _“myur Tire (5). 100% 99 5 Goodyear 1st pf (7). 214, Gotham Silk H (234) 70 {Gotham S H pf (7).. 66 Gothampfexw (7). 7347 Gould Couple THERE IS - The sudden death of Francis W. Stone, vice president of the National Savings & Trust Co., last night caused a shock in the local financial district today. Mr. Stone was 65 years old and had been with the trust company fl'!ot NO SUBSTITUTE FOR SAFETY, - Consult Us 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 Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Decatur 3600 Mortgage Loan Correspondent New York Life Insurance Company Be % -Aviation Corp Del... Baldwin,Loco (1.76). Baltimore & Ohlo (7) Balto & Ohlo pf (4).. Bang & Aroos (33).. Barnsdall. A (2) Beacon Oll. . Belding-Heminwa: Belg N Ry pt pf 6.49. Bendix Aviation (2). Best & Co (2). . Bethlehem Steel (6). Betlilehem St pf (7). 9l Graham-Paig Bloomingdale pf (7). 59% 1 Granby Cepper (8) Blu'thal & Co pf (7). 8 324 Grand Silver Strs (1) Over 200,000 Pennsy Stockholders. Bohn Al & Bra: 3) 87 Grand Unien pf (3).. The number of Pennsylvania Rail- Booth Fisherle 4 3% 4 87 Granite City Stl (4).: road stockholders has passed the 200,- - 82% Grant (WT) (1).... 000 mark for the first time in the com- “ % Grt North pfct (6).. pany’s history. This is shown by a 95 Grt North pf (5) Teport just completed and issued today, 19% Gt NetfsOP (a8%). placing the number of shareholders 34% 28 Grt West Bug (2.80). registered on the books at the record- 118% 114% Grt West Sug pf (7). figure of 205,263. 22% 12% Grigsby Grunow (2), The new figures show an increase of 46% 38% Gulf Mo & North. ... 0,144 over the January peak, and of 90 Bp% | 984 Gulf Mo & N pf (8).e 51,756 as compared with the corres- 80 ; 94 o 61% Gulf Sta Steel (4). = o b ding figures for & year ago. 27 26 HackenpfA (1 - > lvania stockholders 18% 12% o o - Don’t Buy Any . ° ° - Office Furniture y Until You Have Compared OQur & . l‘ Bargain Prices! ! We Are Closing Out B e Bauts 6 i wEonBaunlStBubiv fnabbntBatns Federal Storage Dividend. *The board of directors of the Federal Co., has declared the regular quarterly dividend of 2 per cent, ac-| cording to announcement by President | E. K. Morris. The disbursement is payable or April 15 to record at the close ot business March 31. o T » L] P 8. P44+ - BowanSaawm - a Large Stock of Desks. . $20 to $200 Tables. . $10 to §100 $200 to $600 Chairs. . . $2 to $150 Safes. . . $60 to $225 SOME REDUCTIONS AS MUCH AS 50% ! DON'T MISS THESE SAVINGS! SHAW-WALKER 605 13th St. N.W. 13th Bet. F & G T 1 Matched Suites, 20% 24is has been, in part, ddu‘e o 128 100% Hanna (M A) 1st (7) eral tendency to a more di- 904 85 Hannapf (new) (7). of the company's 61 56 ownership BE (A% Harbison Walk(2%) , tock by permanent investors, which Budad (E G) Mfg (1). ’ A e n tor s long perl o B - ST TR o SAMUEL McCREERY & CO. ” has been going on for a long period Budd Wheel (1) of time, but more particularly results - 0% g“l‘ 1:: ol o og-.r.n.nu . ‘ o e e botdets snd. n ‘1978 MEMBERS NEW YORK AND PHILADELPHIA in 1929 to stockholders, and in 1928 Burns Bros A (8). P ke to both stockholders and employes. Burr Add Mach (1 GES Acacia Reporis Good Gains. Termal (:m b According to figures just made pub- 1 3 3% lic through hud?;nmn here of the 12% Acacia Mutual Life Association, Byers (A M) 29 business placed thus far this year is oy . 1% well in excess of $7,000,000, with & net Calit Packing (4)..oe. ei% of $2,500,000. The total insurance Callsban e & L oo -t force at the present time is ap- Cal‘\::;: “(“"-)-. a% proximately $350,000,000, it is stated. C;mpb.uu Woant (). New Director Elected. a GA ) o Canada Dry - At a meeting of the Home Build- Canadian Pae (10)..v ing Association Dr. George B. Roth was Cannon Mills (3.80; elected as a director to fill the unex- Case (JI) (6).. pired terms of Morris Hahn, who had Case (J 1) Co pf (7). resigned on account of ill health. Caterpillr Trac t3%.. Graymur Corporation Elects. Celotex (8).venssann At the annual meeting of Graymur g::: :fi:‘;‘:‘: :;fi,: Corporation directors were re-elected. Cont Alloy ety (8)es G. M.-P. Murphy, chairman of the Century Rib Mills. .. board, stated that the 5800 shares of Co:tl{l’bmulp! ) the wtwrlflfln's stock held at the end Cerro de ©®).n of 1920 had been resold since at a profit. C lrt-lln-l!. .“"'m He also stated that the liquidating value Cortain-teed pf. 4 of the corporation as of March 6, 1930, Checker Cab (6.30)a. receive e ks Tt sade of its stock last Summer. Ches & Ohie (10) Bankers Arrange Bowling Match. The Security Club of the American Security & Trust Co. and the Riggs Bank Club have arranged bowling ‘matches for Saturday afternoon at Con- vention Hall, in which eight teams of five men each will take part, and two teams of ten girls each, making 50 participants. H. T. Kimball is president of the Security Club and G. Harry Morris of the Riggs Bank Club. 27% 22 Hercules Motor 1.80.. 103% 70 Hershey Choo (5).... 103 B83% Hershey Choe pf(t5) 26% 15 Hoe (R) &CO...ccun Holland Fur (et2%). Hollander & Son..... Houdaille Her B (2 Household Fi pf 3 ANNOUNCE THE REMOVAL OF THEIR WASHINGTON OFFICE Household Prod(14) Houston Ofl. ......u To Howe Sound ('l'“)- i Hua&Man Ry ( ROOMS 1214 & 1215 SHOREHAM BUILDIN Hudson Motor (6. e FIFTEENTH STREET AT H ‘WASHINGTON, D. C. Illinols Central (7).. Independ O1l & G (3) § Mareh 1, 1980 Telephone: MAIN 0064 192% 152% Intl Bus Mach 67% 56% Intl Cement (4). 8% 5 IntCombustion. 62 80 Inter Comb Eng pf 96% 78% Intl Harvester (3% 46% Int Hydro El A (e3). 81 66% Intl Match pf (6).... 30% Intl Mer Marine (1). 421 Int Nickel of Can (1) 12' 30% Intl Pap & P A(2.40). Intl Pap & Pwr B. Intl Pap & Pwr C. Int Pap & Pwr pf Refinancing at . 70 Intl Print Ink pf (6). 10s —And unless you plan to escape a drop in 108 u market by “A\l‘c:tomy." you us:mu:d invest capital only those sec which are offers the advantages always sound, never & nflectf’d by stock market movements, and unfailingly pay of a longer loa.n term, some interest return to the investor—the First and a lower interest Mortgage Notes sold through the Swartsell, rate . . May we prove to you, in detail, the Rheem & Hensey Company. substantial savings possible through five and one-half per cent financing. Chi Great Western. . Chi Great Westn pf.. Chi Mill St P&Pac... Chi Mill St P&Pasc pf Chicago & N W (6).« Chi Pneu Tool. . Chi R1& Pacpf (6). Chi Yellow Cab(3). ‘The tail from the lizard's body helps the lizard get out of the enemy’s reach. Thousands speculators caught in the breaking- stock market recently emulated the sold out at any sacrifice in order to something of their savings. o rrRacEeanaqnmwn asEs ] T T T T T T 5 H] § 8k HARDWARE BUYING et REPORTED CAUTIOUS! Coca-Cola A (3) Colgate-Pal-P uu)). Colg-Palm-P pf (6)+ While a slight improvement in_the Colliie AR En: hardware demand was brought about Col Fuel & Iron (2) by the prevalence of mild weather, the ColGas & I (3)sr increase is not as marked in extent as is customary at this period of the year, Hardware Age @ys. ‘Wholesalers H Int Salt (6)... 9% Intl Shoe (3).. P T IT N - Jewel Tea (4). TS ) Johns-Manville (3).. 60 Jones & Laugh p2(7)100s Jordan Moter Car... 3 Kan City Sou (5).... 1 Kan City Sou pf (4).. Karstadt (R) (1.02).. e Loan 2 3 Kaufmann)DS (1%) 1 7 4 Corr: nt a rod 2 3 “The Prudential’ interest to an investor. principle or Kayser Julius (4)... Kelth-Albee-O pf (1) \Kelly-Spring Tire... Welly-Spring 6% pf. Ielly Spring 8% pf.. Kwisey Hayes (2)... l'?uvdnnur Corp. Prompt approvals == Valuable prepayment privileges == Three year.loans on newer properties without amortization. H. L. Rust Company 1001 Fifteenth Street National 8100 B T A'FE 18 KED 7 8 89 REEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET ~oWo/ WASHINGTON D.C. Col Gas & El pf A(8) 1 lesal as well a8 retallers seem % Ce;nén-anz?lr).‘ o to have adopted & policy of cautious Comm Credit A (3).+ buying as a result. Market centers de- Com Crd 1st pf (6%) pending largely upon farming sections Coml Inv Tr (g1.60) seem to be in better shape than most Comm Solvents (31)+ urban market territories. For this rea- Comwlith&Sou(806)« son the South, Middle West and North- 99 Comm & Sou pf (6).. west sections are reporting more activ- 13'% Congoleum-Nairn... ity than markets, so far as 45 Congress Cgr (16%). hardware is concerned. 44 Consol Cigar (7).... Gragdual improvement is indicated and 67 Consol Cgr prpf 6%. the low point is generally conceded 15% Consol Film (3)..ees to have been although the up- 18 Consol Film pt (3) .« turn 1is not yét L 96% Consol Gas N XY (4).. Prices are essentially unchanged and 993 Consol Gas NY pf(5) remarkably stable in view of gen- 49 Consol RR Cub pf(6) eral situation, Collections retain a fairly 1 Consol Textile.....s satisfactory status. 12 Container Cor A 1.3 ——— - 4% Container Corp PARIS BOURSE PRICES. PARIS, March 13 (#).—Price changes were irregular on the Bourse today. Three per_cent rentes, 86 francs 40 “num.l'b Pive per cent loan, 102 1 « " Exchange on London, 124 francs 26% Lo Coriantion 48 9% _ & it % n Coryoration 28 9 francs 85%, centimes. - (Contirued on Page 14.) i i