Evening Star Newspaper, March 19, 1930, Page 13

TR T % FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. ‘STOCKS GOHIGHER ONEASIER CREDI § fnvestment Issues Respond to Further Drop in Money Rates. BY STANLEY W. PRENOSIL, ® Associated Press Financial Editor. ‘ NEW YORK, March 19.—Bullish forces continued to press their advan- tage in today's stock market as money rates dropped to the lowest levels in ‘more than five years. Scores of active issues were marked up 1 to 5 points, with a few high priced specialties whirled up 6 to 16, and with at least score stocks elevated to new high Jevels for the year. Weakness of the fobacco and merchandising issues, upled with heavy profit-taking, ught about moderate recessions from the morning’s high levels in the early afternoon. ‘Total sales in the first two hours Fan close to 2,000,000 shares, or nearly 100,000 above those during the same riod yesterday, but there were fewer lr’! blocks today. The ticker ran half an hour or more behind the ‘market. Money at 2 Per Cent. Call money renewed at 3 per cent, the lowest initial change since Febru- ary, 1925, and then dropped to 2 per oent. Outside was again avail- able at 1% per cent, with a plentiful supply of funds available. Business news continued spotty. One of the most encouraging developments of the day was the weekly Iron Age report that “the downward trend of steel specifications has been to a large extent arrested. but, with buying at close range, mills lack their customary ‘backlog of «?'rdu's as the second quarter lp;rocchu, . W. Dodge refirud an increase of 44 per cent in building contracts above the week before, but the 1930 total to date is run: bout llmr cent below the t year. Na- tional Bel Hen, one of the largest mail-order organisations, omitted the quarterly dlvidcnd due at this time. Considerable progress is being made in merger developments. Consolida- ton of the Chase National, Equitable company. alian lhmhip lnd Dolln um officials are turt-r nr Stite, Gardner sed bMoon er an joon is reported to be under discus- R.mnuhn{u g pressure against Co. carried that issue down 4 Montgomery Ward and R. H. Macy sold down a point or more. o Other Changes. Ampr‘uqnnn:tee&h‘\‘x;hm’k;lbou; poin! TS ;emflu-al-fl"mm about a p&:t U. 8. Alcohol and itino Mines sank to new low levels Year. Onmtthlx:a"md!;(hw soaring 30 high at 304, os Shemeld ln'rsulve leadership of United m' Steel, which crossed 188 in m pulled many stocks the resistance of the t in me tobacco and merchan- . ‘nd amme n‘l: znuh l above ms Nov ven, ve 135, and American Can, ve ,wmtlllnnnhm:munfl!or R e uulo%m' i STEEL PRODUCTION BASIS CONTRACTED Iron Age Says Average Rate of Operations Is Near 76 Aus nfla situation hy no means clear cut, steel users have little inducement to commit themselves very far ahead. It is also possible that the disposition of the auto- mebile industry to await developments that opm ‘weather brings may extend hnpandeu.hlu lnl.rodueed into business by stock market crash h.n generally Mw“-‘md ly continue to operate at Mmmnwfim ldl 85 per cent. business has been light olegm hut .-.... a§§=; e e B! S e e 3 - 83! SOUTHERN RAILWAY CO. REVENUES COMPARED lclu-lncl Stock Complled to 12:30 P.M. Bales— A ul High. !n; ~Prev. 1930.~ Stock ana 3 . Dividend Rate. Abitibi Power & Pa ADItibi P& P pf (8) Adams Bxpr (1.60) .. Adams Exp pt (6)... Advance Rumley. Ahumada Lead Air Reduetio Alr le Bl A'(l"). Allied Ch & Dye(né) Allled C&Dpt (7). Alpha Port Cemt (3). Amerada Corp (3)... Am Agricul Chem. ., Am Bank Note (13). Am Beet Sugar, Am Brake Shoe( ) Am Brown Bov Eles. Am&Forn Pwr 24 pt. Am Hawatian ) Am Locomotive (8)., Am Mach & Fdy (1) Am Metal (3). 1) Am Pow & Lt pt (8, Am P&L pt A st (5) . 4 Am Ra&Std San l“ - Am Republies. Am Rolling Mi! Asso Appl Ind Asso Dry G il") Asso Oil (2) Baltimore & Ohlo ", Balto & Ohlo pf (4).. A Capltal Adm A p£(3). Case (JI) (6)eveconn Caterpillr Trao 13% . Celotex (3).ceesenae Cent Aguirre As 1%, Cent Alloy Steel (3). Cent Alloy etfs (2).., Cent Alloy 8t p£(7) e Century Rib Mills, Cerro de Pasco (6).s. Certain-teed Prod. .. Checker Cab (4.30)... Ches & Ohio (10)...a Chesapeake Corp (3). Chi Great Western, o Chi Great Westn pf. . Chi Mill St P&Pa0. .. Chi Mill 8t P&Pas lcag Chi Pneu Tool. . veees ChiRI&Pao (T)..00 Chi RI& Pacpt (6). ChiR 1 & Pacpf (T). Chickasha C O11£3).. Childs Co (2.40) ¢ Chrysler Corp (3 City Ice & F (ki City Stores (1)....00 Clark Eculvmcnl 3) Cluett Peabody (8).. Colgate-Pal-P flu). gllln & Alkmas. .e Consol Gas NY f (8) Consol RR Cub pf(8) Consol T “ ou-uco-u. .ne £ 11 Baking. B Sone s e 864 Cow™ Bakin uf u;. PITHRL-PON-1 o - Sunabenatuit II v . 1980.~ . Low. 68% 504 28 i Dia Fibre (3).. . 25 Contl Insur (3.40). ., Continental Motors.. Contl Ofl of Del..... Contl Shares (1).... Corn Prod (13%).. Coty. Ino (k2).. Cream of Wht(13%). Crex Carpet........s Crosley Radio (1)... Crown Cork & Seal. . Crown Zellerbach (1) Cructble Steel (k5). . Cuba Cane Sugar. Cuba Co. . Cudahy Packing (4! Curtis Publish nrm‘ Curtiss Wright Corp. Curt Wright Corp A. Cutler-Hammr(3%). Conti Can (3%)s..ee Contl 3. Deere & Co pf (1)-s Delaware & Hud (9), Del Lack & W (17)... Denv&RG W pt..., Detroit Edison (8) . . Devoe & R, A (3.40).. Dome Mines (1) Dominion Stra (1.30) Drug Corpn (4)..... Du Pont de N (+4.70) Dupont d N deb (6).. Duquesne 1st pf (5).. Eastman Kodak (18) Eaton Axle &8 (3). Eitingon pf (634) Elec Auto Lt Electric Boat, ElPwr&Lt ( Elec Storage Ba Eng Pub S etfs (31).. Eng Pub Serv (31).. Eag Pub Sve ot (5%) Erie R R. Erfe R R 1 Erfe R R 2d pf (4) .. Evans Auto Ldg 2% . Fairbanks Co pf..... Fairbanks Morse (3), Fash Park Asso (2% Fed Lt & Tr ot (6). Fed Mining & Smit, Fed Motor Tr (800) . Fed WatB, A (e2.40 'Irestone T Firestone T&R p(6) First Nat Strs (nfi). Fisk Rubber,.... Follansbees Bros (3). Foster Wheeler (3).. Foundation Co. Gen Am Tnk Car(34) Gen Asphalt ( Gen Bronsze (2 Gen Cable. . Cigar Gen Electric (1.60).. Gen Elee spea (60¢).. Gen'l Food Corpn (3) Gen Gas&El A (fe3) Signal (5). Gen Refrac (14%)... Gen Theat Equip vts. Glllette Saf Raz(nb). 3 35 208 65 23 2 8 o el Goodyear 1st pf (!).. Gotham Silk H (3%) Gould Coupler. Graham. - Granite City lu o Grant (W T) (1). Grt North pf (5, GtNotfsO P (a3%). Grt West Sug (3.80). Grigsby Grunow (3), Gulf Mo & North.... Gulf Sta Steel (4)... Hahn Dept Stores... Hall (W9 Ptg (m1) Hanna pf (new) (7). 100 Hartman A (2)... Hartman Corp B 1.30 Hershey Choe (5). ... Hershey Choe p£(15) Hershey Ch pr p£(6). Hoe (R) &Co....... Holland Fur (e13%). Houdaille Her B (3). Household Fipf 3% .. Household Prod(14). Houston Ofl.......u Howe Sound (143 ).. Hud&Man Ry (3.60). Hudsqn Manh pf(5). Hudson Motor (5). Hupp Motor (£3). Illinois Central (7). Ind Mo g FL .»..«.§...¢.....M.. ® CITrR - L Tr -5 - - 5 Inland Steel (4) Inspiration (4). Insurance Shars Runvmwlvona - 5 3 Int Nickel of Can (1) Intl Pap & P A(2.40). Intl Pap & Pwr IntiPap & Pwr Int Pap & Pwr Intl Print Ink of ®. 10. Int Tel & Telex (3; Inter Dept 8t (3), ummn Bquity( Island Creek Coal(4) -,I'.l Tea (4).. Kan City Sou (5). Karstadt (R) (1.02).. Kaufmann)D 8 (13%) Kayser Jullus (4)... Keith-Albee-Orph Kelly-Spring Tire Kennecott (5).. Klmb"ly-mlfi(il)n Kinney GR (1)..... Kinney (G R) pt (8). Kolster Radio. ...... (SH) (1) Kreuger&Toll (1.34). Kroger Gr&Bak(nl). s, Ine (3).. l‘l"llu oL (8%), bn. 11 L Louv-wu- ("."). l; " (Continued on Page 1 Stock and Baies— Dividend Rate. Add 00 mn lo'. 2. 54 ZI'A 68% 25% 36% 4% 29 33% 17% 76% T6% 103 108% 101% % :88. 69% 30 68% 6% 25% 36 95 29% 34 1% 18 B55% Olm. 66% 29 69 7 26 ACACIA LIFE REPORTS RAPID 1929 GROWTH Association Has $6,000,000 In- vested Here—New Director Added to Board. At the annual meeting of the stock- holders of the Acacla Mutual Life Asso- clation held here yesterday, President Montgomery reported that at e elose of 1029 the association had more t.lun wumooo of insurance in |G Koke. oral Ineome. of the to come of e ear was $11,000,000, and its assets at o close of the year stood at $33,865,59 had more than $1 oooooa m~ Acacia vested in first mortgage loans, and of ingham, Graham, James C. Hoyle, E. Jarrell, J. Claude Kelpe'r Arthur D. Marks, John T. Meany, Ji seph H. Milans, Willlam Mon! ery, John B. Nichols, Ghn’lu F. !teum Eu- ‘lm ‘The will meet on April 23 to elect officers. Airmail service between Berlin, Ger- many and the Canary Islands, to be started this year, will include a night FINANCIAL. Cotton Pool Larger. 'MONTGOMERY, Ala., March 19 (®). —The Alabama Farm Bureau Cotton Association has received 120,000 bales of cotton, exceeding deliveries for the ‘highest year by 15,000 bales. The_total for pooling season will reach between 130,000 and 150,000 bales, says Allen Northington, general man- ager. First Cotton Factory. ATLANTA, Ga., March 19 (#).—The first _cotton factory was built on Up- ton Creek in Georgia near what is now ‘Washington, Ga. First Mortgage Loans ¢ Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Smith Co. 1st & in exeh: for. new LRSS St S Mr. Dieffenbach Nat’l 8850 Will Accept at Par F. H. Refunding Bends that total $6,000,000 was invested in flight from Berlin to Stuttgart. possible savings through refinancing at HE Real Estate Loans we make on properties have appealed to all classes. They are fitted to each son's individual problem. 809 15th St. N.W. LY CONSULT EAVER BRO REALTORS Mortgage Loan Correspondent Metropolitan Life Insurance Company District 9486 per- 54% Five and ohe-half per cent First Mortgage Funds for loans on residences and emall business properties in the District of Co- lumbia and nearby Maryland suburbs. H. L. Rust Company 1001 Fifteenth Street National 8100 Established Over Half Century In the Nation’s Capital REAL ESTATE—LOANS—INSURANCE Specializing Mortgage Loans—Money Carefully Invested STATEMENT WP 'CONDITION The Home Insurance Co. of New York, N. Y. R e B e ‘s 1517."“" June 30, 1902, August . $34,000,000.00 24,000,000.00 762,474.00 1.393.578.00 11482,308.25 Total Nabilittes .. Character of business transacted during the year 1028: Fire and marine insurance branches. '-':'f"‘u'z.m.m.m 0o 69,382,171.78 .71 w. 5 President. mrn i3 before me this !«h - ot Februars, 1630, Nunn “Public, s r's € 0. jon ex- Dites March 30, 1931 STATEMENT 0P° The California Insurance Co. of San Francisco, Calif. o A A g Sode. amended June 30, 1003, an 18, 1911, Surplus Total NHabllitie meseer Thad! Bifer Shoar matie, molbr hl:l inland mqnll m um- mado, w sprink- rm. o com eom-utlun. o STATEMENT OF THE CONDITION OF THE New York Underwriters Insurance Co. of New Yark 31st day of eb"r.a) o der - the imbia ut un M&nfl“ June 1903, August GADMA SIOSE, v . casi".000.000.00 1o Cash in office Cash hands of agents Interest Gue ene. ‘accried Total assets ... Beterveas reauired by Salaries, rents, expenses, Capital ‘stock . ‘Total liabilities . of bustness transacted during aracter Ch 3,101,198.01 130,600,780.00 413,386.12 1,343,108.62 912,167.69 ice ent. ibed and sworn to befors me this "“"&'flm TR STATEMENT OFo';n CONDITION The Reliance Insurance Co. of Philadelphia On the Mt day of ber, ",:E armended June 30, m:.‘) 18, 1011, Gapital S1Sek, paie s v cunn' 100000000 iR . 348,7265.00 . 1,813,268.16 in pm-"-un e =il s ‘August Bt oty l‘l&rln. Tents. expenses. tazes, R My commission expires 17, 1983, STATEMENT OF THE OONDITION United States Branch of the i SgkeiRs k 3 S om- all nnmnu Total liabilities ... Sion expires March 30, 1831, OF THE Lloyds Casualty Co. of New York a fll 31st day of December, 1039, as Distriet mended June 3o 1°-.Ju$"um"i . ‘value) Prem| ineoliected and in e . Total liabilitie -m 008.77 UM i e o “'rfi. S e S wfimmmmumum- F L Ll Rutherford, Inec. 1520 K Street N.W. Charles G. Warden President Wm. C. H. 'm. Hagermann