Evening Star Newspaper, March 17, 1930, Page 13

INSTTUTE 10 GIVE AVARDS OF NERT, or Bankers Will Get Cer- 5‘rhficates at Midyear Meeting. BY EDWARD C. ‘ONE. Many of Washington's junior bankers who are members of the local chapter, American Institute of Banking, will re- ceive their certificates for completion of the first semester's work at the mid- year open meeting to be held March 27, | at Langley Junior High School A Henze, chapter president, an- | nounced today that word has just been received from New York national head- quariers showing those who passed the first half year and the ranks that they obtained. ~ At the coming open meet- ing 18 local bankers will be presented standard certificates, 21 more will be awarded pre-standard certificates and | 11 will be given graduate certificates. | The graduate certificates are awarded | to young bankers who have completed | the regular courses and then gone on | and taken special work. Following the of the certificates, the y Club will present a | vening will end with | Public Utility Reports Tssued. 'he annual reports of the public | utility companies of the District of Co- | lumbia for the year ended December 31, 1929, have been issued by the Gov- eriment Printing Office and are avail- ributh The annual reports are published by et of Congress and include the finan- | cial statements of the Capital Traction | Co., Chesapeake & Potomac Telephone Co., Georgetown Barge, Dock, Elevator & Railway Co., Washington Gas Light | Co., Georgetown Gas Light Co., Wash- ington Railway & Electric Co.. Pmnmncl Electric Power Co. and the Washing- ton_Interurban Railroad Co. The reports of all the companies are most complete in every detail. As usual they include & complete list of stockholders, these lists showing that the issues are very popular and equally widely held, The assembling of the eight, reports brings A vast amount of Iocal utility information under one cov- er. The combined reports are obtain- able from the superintendent of docu- ments and_are published as Senate Document No. 80. Pratt and Warden in Partnership. A partnershis has been formed be- tween George W. Pratt, formerly local manager for the First National Co., of Baltimore, and Charles W. Warden, vice president of the Continental Trust Co. until_its consolidation with the Com- mercial National Bank, to deal in high- grade investment trust securities, Col. Pratt is well-known in local financial circles and is an old-time resi- dent of the Capital, at one time being parliamentarian of Congress and jour- nal clerk. He also has large manufac- turing interests in the South. Mr. Warden was a charter officer of the Continental Trust Co. and was its first vice president and active head during the time the late Senator Scott was president. For the past 31 years he also has been A vice president of the First National Bank of Bristol Tenn., and before that was cashier and director of that bank. He also 15 widely interested in pple orchards in the valley of Virginia, having with other members of his family, large holdings in the vicinity of the Harry F. Byrd orchards. The firm will operate under the name of George W. Pratt & Co. Child's Report Reflects Trend. The Pebruary report of the Childs" Restaurant Co. shows a sl{;m gain over the business in February 1920. For the first two months of t ear res- taurant sales are up 3 per o c iids stock has been much 4 L since the change in managemen " these figures are highly nmporunc to the stockholders. But the report shows the trend of the time and presents another exampie tof the reason why the department stpres kigk about the drug stores, obacco. stores kick Sront “the. stbig: itores, etc.. because they are all trying o sell each others goods. ks “Increase in miscellaneous sales of coffee, tobaccos, candy and u‘;’“"‘ en- abled the company to make this record,” according to L. E. Buswell, freasurer of the company. “The outloak 'is promis- ing for atill further increases in this department.” he stated. ‘‘Attractive | display counters will be g fi""" of our newest restaurant to opened around April 1 opposite Grand Central Station. *This unit will be modernistic in tone.” Today's Trading on Exchange. Capital "raction, selling ex _dividend £150 per share, opened on the local Stock Exchange today with a sale of 10 shares at 81%. This was followed by a sale of 10 shares at 81 and an- other similar sale at 803;. The mar- ket in Traction closed with a five-share sale at 80, the day’s turnover being only 35 shares Mergenthaler Linotype changed hands to the extent of 20 shares at 107 and closed with 5 more selling at 107%. Twelve shares of Peoples Drug Stores preferred changed hands at 104%3. Real Estate Mortgage & Guaranty pre- ferred registered a tiny sale at 7. Only one hond sale took place during the session, $3,000 Washington Gas 6s, feries B. changing hands at 105, Emer- son’s Bromo Seltzer A stock is now be- ing quoted ex dividend, along with 1 Traction and American Tele- Heard in Financial Distriet. The directors of the Union Trust Co. have declared the quarterly dividend of cent, payable on April 15 to stock- 5 of record on March 31. The District National Securities Cor- poration has declared the regular quar- terly dividend of 134 per cent, payable to “sharcholders of ~record | . Siddons and H. W. Ireland of the American Security & Trust Co. attended the bank management confer- ence in Philadelphia. Local bankers are most. enthusiastic over the sessions. The American Security Club defeated the Riggs Bank Club in Saturday's bowling matches by 236 pins. Riggs Bank team No. 4 made the highest score, 534 pins. The highest team set of three games made by Secutity «'mh team No. 7. which rolled 1,530 5. The highest individual score was Yegistered by Edward Skinner, Security | Club, with 150 pins, the same bowler | scoring 398 1 a set | Retail trade in the fifth Federal Re-| serve district is reported to be about the same as in the corresponding period in 1929, according to’ the latest reports from Richmond. The outstanding 6 per cent bonds of F. & W. Grand Properties, due in 1948, have been admited to unlisted trading on the New York Curb Ex- change. CHICAGO DAIRY MARKET CHICAGO, March 17 (#)—Butter— Pirm:_ receipts, 12229 tubs. Cream- —Extras 75, - standards, ~ 383;; extra 5 34n36" ceconds, 3 Steady; receipt 30,167 cases; extra firsts, 2515826 graded firsts, 25a25'%: ordipary firsts, 25: storage packed nrsu. 26'; storage packed, extras, 27, POTATO MARKET. CHICAGO, March 17 () (United States Department of Agriculture). — Potatoes— Receipts, 114 cars: on track, 333 cars; total United States shipments Saturday 990 cars: Sunday ‘23 cars: trading just fair, market dull; Wiscos sin, sacked, round whites, 2.20a2 4 few 2.45: Minnesota. sacked. round Red River Ohios, 223;2 .40, l ho, sacked Russets, 300n325; few cy shade higher; mostly 3.15a3.20. firsts, ing those which -h‘un those stocks 321 294 22 Abraham & 8t pf (7! Adams Kxpr ( Advance Rumley pf. Ahumada Lead. Alr Reduetiol Alr Way EI AI(I'A). Ajax Rubber.., Alaska Juneau Alleghany Corp Alleg Corp pf (5%).. Allegh'y Cpf ww 5% Allled Ch & Dye(n$). Allis-Chalmers (3). Alpha Port Cemt (3 Amerada Corp (3) Am Agricul Chem f. 232 g » - PrpopIranee s »5 Am Chiele Co (123). Am Com Alco(n1.60) o = Am&Forn Pwr pf(7). Amé&Forn Pwr 1d pf. » FTupwmroirS~nininnnesans Am Hide & Lea pf... Am Home Prod (4. Am Ice Co (14). ernational (2) Am La F & Foamite., Am Locomotive (8) ‘Am Nat Gas pf (1).. Am Pian Am Power & Lt (£1) Am Pow & Lt pf (8). AmP&LDIA (3%) Am P&L pt A st (5) . Am Ra&Std San 1% .. Am Rad & S 8 pt (1) ‘Am Republics. Am Rolling Mill (2) Am Seating (1). Am Ship & Com. Am Shipbullding Am Sm & Ref (4). Am Solvents Chem. . ot (3). Fay 8). Fay pf (). Am 51078 (2)u.0ee Am Sugar RIg (8). .\ Am Sugar RIg pf (7). Am Sumatra ¢ Am Tel & Tel (! Am Tobacco (B) (8). Am Tobaeeo pf (6).. Am Type Fdry pf(7) Am Water 4 - H 8 B - LU TIPS SRS - L N e L LT ) 4 Amft Writg Anaconda Copr (7). Anchor Cap (2.40) ear, Andes Copper §3)..a Archer-Dan-M (2) cu Armour Dél pf (1), « Baldwin,Loco (1.75). Baldwin Loco pf (7). Bendix Aviation it& Co (2). lehem Steel ll). ¢« Bethlehem St pf (7). Bohn Al & Bra. Borden Co (k3. Borg Warner (4). Briggs Mg. Brockway M T, Bkiyn-Manhat “) Brooklyn & Queens. Bklyn&Queens pt (4) Bkiyn Union Gas (5) Bruns-Balk-Col....e Bruns Ter & Ry Bucyrus Erie (1). Bueyrusov pt (1% Budd (E G) Mfg (1). Budd Wheel (1)..cum Buft & Susque ctt Bullard Co (1.60)...) Bulova Watch (3)... Burr Add Mach (1)., Bush Termni (2% ).+ Bush Term deb (7).. Butte Copper & Zine. Butte & Superior.... | S ? S PreSlruTonnmnunn ?:».» Byon (AM)Df (7). l 1f PRGKING (6). 0o Calianen Zioe n umm»fim Calumetiiectas ), Campbell Wyant (). Canada Dry G A u)-. Canadian Pae (3 Cannon Mills (3.80) s Capital Adm (A). Capital Adm A pE£(3). Case (J 1) (8, c-urmur Trae 13% Celotex (3). —a [ cnaBaNSINN v P N t Rib um- p: (1) T0 de Fasco (6). . Certain-teed Prod. Checker Cab (4.20. Ches & Ohlo (10). 4 Chesaj e Corp (3) Chl & East 111, Chi & ldast 111 BE. Chi Great Wester: - Chickanha C Oll (3) Childs Co (2.40) Chrysler Corp (3) City Stores (J). Clark Equipment (3) Coca-Cola (6) .. Coca-Cola A (8) Colgate-Pal-P (3134). Collins & Aikman. .., Col Fuel & 1ron (3) = Colo & South (3). Col Gas & Kl (3) Col Gas & Kl pt FrusoncniBanonBsalennnar - ca et S 10 Comm Credit A (3). Com Cred pt B (3)... Com Cra ist pt (834) Coml Inv Tr (gL60). Comm Solvents (31)« Comwlith Power((4). Comwlihé&Bou (6 Comm & Sou pt Conde Nast Pub li)» Congoleum-Nairn. .. Congress Cgr (16%) . Conso) Cigar (1).... Con Cgr pr pf x Consol Cigar pf (7) » Consol Film (2) Consol §1lm of (3). Consol Gas N ¥ (4) Consol Gas NY pf(5) Consol Textile Contalner Corp Contl Baking A Contl Baking Contl Insur (2.40) Continental Motors. Contl Oil of Del. Coty. Ine (k3), Creain of wud;fl t. oo 'x Carpel 1ou cr..uynuu [£) 0 Low. 207 1% 2 ~ LY 13 34 7 108% 9%, THE EVENING STAR, WASHINGTON, Close. 107 324 a6 L) 133 1043 993, Cudahy Packing (4). Curtis Pub Co(16%). Curtis Publish pf(7). Curtiss Wright Corp. Curt Wright Corp A.. Cutler-Hammr(3%4). Davison Chem.... Deere & Co pf (T) Delaware & Hud ( Del Lack & W (17) Denv& RG W pf.... Diamond ch (8). 90s Dome Mines (1)..... Dotinion Strs (1.20) Drug Corpn (4) . Du Pont de N (14.70) % Fastman Kodak (18) Eaton Axle & 8 (3) Eitington-Schild. .. . Elec Auto Lite (8)... Electric Boat. Bl Pwr & Lt (1), Pl Pwr & Lt pf (1) Elec Storage Bat (§). Elk Horn Coal. Bng Pub Sectfs (31).. KEng Pub Serv (31) Eng Pub Sve pf (5).. Eng Pub Sve pf (5%4) Equitable Bldg (23) ErieRR,.. q Eureka Che Ci (4.4 Evans Auto Ldg 2% Fash Park Asso (334 Fash Pk Asso pf (7). Fed Wat 8. A (02.40). Fifth Ave Bus (64c), Fed Lt & Tre (11%4). Fid Pho Fire 1(3.60). Firestone T&R(1.60) Firestone T&R pf(6) trs (3%). Florsheim Shoe A. .. Follansbee Bros (3) .. Foster Wi or (2) e Foundation Co....uu Fox Film A (! Freeport, Texas (16) Gameweli Co (§) Gardner Motor. Gen Cigar (4). Gen Electric (1.60) . Gen Elec speo ( . Gen'l Food Corpn (3) GenG&Elpf A (7)-. Gen Ita) Ed w.1. a: General Milis (3). Gen Motors (13.30).. Gen Out Adv (2).. Gen Outd Adv A l‘). Gen Publio Serv (b§) Gen Ry Signal (5 Gen Refrac (14%) Gen Steel Cast pf (§) Gen Theat Equip vts. Gillette Saf Ras(nb). Gimbel Brothers. . ... % Gimbel Bros pf (7).. % Hahn Dept Stores. .. 4+ Hartman Corp B 1.20 4 Hershey Ch prpf(6). Glidden Co (h3). Gobel (Adolf). Gold Dust (23). Goodrich B F (4) Goodyear Tire (§ Goodyear 18t pf (1), Gotham Sllk H (3%) Gould Couples Graham-Paig Granby Copper (! Grand Stiver Strs Grand Union. Granite City Grant (W T) (1) GLNct{sOP (a3). Grt West Sug pf (1), 408 Grigsby Grunow (2), 16 Guantanamo Sugar.. Gulf Sta Steel (4)... Gulf Ma& Npf (6).« » P T T T Hall (WF) Ptg (m1) Hanna pt (new) (7). 250, Hoe (R) & Co. Holland Fur ll'!“) Houdaflle Her B (2). Household Fi pf 3% .. Household Prod(14). Houston Ofl.......o Howe Sound (14% Hud&Man Ry (3. Ifl)- Hudson Motor (5)... Hupp Motor (f2).... Illinols Central (7)., Independ O1l & G (3) Ind Motor Cyele... Indn Motorcycle pf.. 208 Indian Refining..... 440 Indian Refining ot... 96 Indus Ray (b5 %stk). Ingersoll Rand (4).. Inspiration (4) 4 Insurance Shars 450, Interboro Rap Tran. . Intercontinental Rub Interlake Iron (1) Intl Agricultural, Intl Agri pf (7) Intl Bus Mach (; Intl Cement (4). Int Combustion. Intl Harvester (3") Int Hydro El A (e3). Intl Match pf (4)...s Intl Mer Marine (1). - e o EL TR T TS T P JTpRs- ey o % Int Nickel of Can (1) Intl Pap & P A(2.40). Intl Pap & PwrC.... Int Pap & Pwrpf (1) 1 Intl Print Ink pt (8). 20s int Salt (6) Intl Silver Int Tel & Teleg Inter Dept 8t (2) Investors Equity Island Creek Cflll(‘) Jewel Tea (§).cuseas Johns-Manville (3).. Jordan Motor Car. .. Kan City Sou (8).... Kan City Sou pf Karstadt (R) (1.02) . Kayser Julius (4) Kelly-Spring Tir Kelly-Spring 6% pf. Kelly Spring 8% pf. hna Kelsey Hayes (2). Kelvinator Corp. iCendall Co pf (6) ... Kennecott (5). Kinney G R (1), Kolster Radio. Kraft Ph Ch (1%)... Kresge(S8)Co(1.60). 4 Kress (SH) (1). Kreuger&Toll (134): Kroger GraBak(n1). Libbey Owens (1) Liggett & Myers(15) Liggett&Myrs B(15) Lima Locomotive i Liquid c-m'mu “ W Loew's, Ina (3). Loew's ptxw (63%). Loft Ine....... Loose-Wilea (12 70) Lorillard (P) Ce..... Louis & Nash (7). Loulsiana O11. LouG&BIA (1% Ludlum Steel (2). ’tBT‘:’). B D "I%) McKesson & Rob (3). s Macy(RH) & Oo(l\l) Magma Copper (5).. linson & Co. Prev. Close. Low. Close. 61'6 B5% 51N lll 11A |. 13% 64 45% 17 116% D. C., MONDAY, MARCH 17, MARKET FORWARD Bears’ Efforts to Unsettle List in Early Trading Are Failure. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, March 17.—Heavy buy- ing of the ofl shares, a score of which moved Into new high ground on gains ranging from fractions to 5 points, turned the general course of stock prices upward today after an early pe- riod of irregularity. The demand for the ofls was influenced by recent fa- vorable developments in the trade sit- uation and rumors that the United Butu Senate was likely to adopt a duty sumn professionals tried to unset- tle the market in the early trading. but failed to force much liquidation of long stock. American Locomotive, Gil- lette Safety Razor, International Silver and United States Industrial Alcohol were hammered to new low levels for the year and pmhlh!y & dozen other is- sues sold down 1 to 3 points. Despite reports of a slackening in some of the major industries last week, Wall Street found considerable en- couragement in preliminary reports that Federal income tax collections were ex- ceeding earlier estimates and from Sec- retary Lamont’s statement that officials of various States were showing remark- able co-operation in responding to the Federal Government's plea that build- ing work be speeded up. Call money was in plentiful supply at the renewal figure of 313 per cent, with money brokers showing little inclina- tion to lower the official rate. Outside money was available as low as 2!, per cent. Time money and ccmmerclul paper markets also displayed an easier % | undertone. New 1930 highs in the oil groups were registered by Atlantic Refining, Indian Refining common and the certificates, Midcaontinent, Pierce Ofl issues, Piert Petroleum, Simms Petroleum. Skelly, Standard Olls of California and New York, Transeontinental (new) and Texas & Pacific Coal & Oil. In addi- tion Houston was marked up nearly 5 points and Standard Oil of New Jersey lnfl Texas Corporation sold at least 2 points above last week's final quota- tions. Worthington Pump led the specialty list with an early gain of nearly 9 points, setting a new peak for the year at 120. Auburn Auto and J. I. Case sold at least 7 points higher and Hershey Chocolate, In(lrnnflnnll Business Ma- chines, May rtment Stores and Sears- mhuek advanced 2 to nearly 4 points, Best & Co., A; M. Byers, Collint & Aikman, Interborough Rapid Transit, H. K. Mallinson and United Carbon | attained new 1930 marks. CHECK VOLUME. By the Associated Press. Checks drawn upon banks in prin- | cipal business cities of the country last week had a smaller aggregate than like totals for the precedln;fiweek. Pigures as reported by - the deral Reserve Board for the week and eompnnble‘ periods follow: Week ending March 12, $14,383,008.- 000; preceding week, $16,271,827.000; same week last year, $18,476,941,000, BANK CLEARINGS. NEW YORK, March 17 (Special) — New York bank clearings today, $851,000,000; & year ago, $789,000,000. New York bank balances today. $250,000.000; a year ago, $234.000.000. New York Pederal Reserye credit bal- ances today, $248,000,000; & year ngo $214,000,000. 1 American _passenger automobiles re- ceived into Belgium last year were val- ued at more than $12,500,000. 1930. NEW SECURITIES. NEW YORK, March 17 (#)—New security offerings today includ City of Birmingham, Ala. l? 500, 000 41, per cent gold bonds, to April 1, 1930, and to ure Avrll 1. » 1960; priced to yield per cent, according to ma- turity. Offered by a group headed by the First National Bank of New York, the FPirst Detroit Co., Rogers, Cald- well & Co, and Mark & Co. of Bir- mingham. Tarrant County (Fort Worth), Texas, $1,800,000 415 cent road bonds, due $50,000 annually October 10, 1830, to 1959, inclusive; priced to yield 4.25 to 440 per cent, according to maturity. Offered by Halsey, Stuart & Co., Stix & Co. and others. ‘Toledo, Ohio, $1,750.000 city school district 4'4 per cent bonds, maturing $70,000 each April 1, 1932 to 1956, in- clusive: priced at.4.10 per cent for.all maturities. Offered by the Continental Tllinois Co., Emanuel & Co. and others. Capital City Products Co., 24,000 no-par shares common stock at $21.50 a share, Offered by the American in- dustries Corp., Detroit. “0 Paddy dear, an’ did you hear The mews that's goin' roum'? They're selling Irish Homespuns now Right here in Washington town!” . .. there’s a bit of the Old Country in the Homespuns that far-off Galway has sent Rogers Peet for their smart Spring Suits , ., . . . woven exclusively for them in soft, blended mix- tures of brown, tan and gray . . . they have a spe- cial finish which makes ‘em sturdier than ever , .+ . we alone sell Rogers Peet Irish Homespun Suits here in Washington . .. Irish Homespun Suits - 860 Scotch Mist* Topcoats #60 and $65 *Rep. U. S. Pat. Of. Meyer's Shop 1331 F Street 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 Connecticut Ave. N.W. Phone Decatur 3600 3,5 or 10 Year Loans On Improved Real Estate IN Nearby Montgomery Coun ty District of and the Columbia Low Rates POSIITIS Logn Correspondent John Hancoc AMutual Lite Insurance Ct 1417 K St. National 9300 Open Until 5:30 P.M. Toda Payday depositor: find our location, con- venient—our service, all that could be de- sired—our interest in their financial de- velopment, genuine. 3% on Savi National Metropolitan Bank 1814—Oldest National Bank in the District of Columbia—1930 15th St., Opposite U. S. Treasury FINANCIAL, Real Estate Investments JAMES Y, PENNEBAKER Nat.5201 1520K St.N.W. Wm. Gordo:i Buchanan Councilor & Buchanan National 611061116213 (Telephone Directory Omission) Equitable Co-operative Bldg. Ass'n Organized 1878 50th YEAR COMPLETED JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary Assets .. +e...$5,662,549.55 Surplus & Profits $1,705,130.78 Subscription for the 98th Issue of Stock Being Received Earn—Save That home in the future you are always wishing for will be a thing of the near future if SAVE NOW instead of wi “until your ship comes in." ,.? o £ Q¢ Let us explain our simple sys- tematic plan. 915 F St. N.W. Real Estate Loans HE loan plan of the Metropol- itan Life Insurance Company is the result of their experience with home buyers throughout the United States. Loans are made in the District of Columbia and nearby Maryland and Virginia by EAVER BRO REALTORS 809 15th St. N.W. District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company FERST MORTG WHAT SO MANY APPROVE MUST BE RIGHT There is such universal selec- tion of First Mortgages when income is the chief concern that they have become one of the outstanding investments. Of course our 6% FIRST MORTGAGES offer every principal, fiberal interest, long- term - investment, with regular payments of fixed amount. ES Over a Third of a Century Without a Loss May be purchased in amounts 2 from $250 up. & B. F. SAUL CO. National 2100 925 15th St. N.W, IS NO SUBSTITUTE FOR SAFETY 8 offer our facilities for the placing of your investment funds . . . for more than forty years the +H. L. Rust Company has been mgking first trust loans on improved propefties in the District of Columbia and adjatent Maryland suburbs. Investors have found the notes SAFE in the abundance of the security — CONVENIENT in their de- nominations—PROFITABLE in the highest interest yicld consistent with a conservative investment. 6% FIRST MORTGAGE NOTES H. L. Rust Company 1001 Fifteenth Street National 8100 ESTABLISHED 1889