Evening Star Newspaper, March 25, 1930, Page 13

FINANCIAL. EXCHANGE SETTLED IN NEW QUARTERS; Lively Trading and Good At- tendance Marks the Open- ing Session. BY EDWARD C. STONE. George O. Walson, president of the Washington Stock Exchange, rapped for order today in the handsome new quarters in the Washington Building, there was an ex- ceptionally large number of members resent snd trad- Ku reached the proportions of the good old days last year when business ‘Wwas booming. ‘The first trans- action was in Capi- tal Traction 5s, & $2,500 turnover be ing reccrded al tomac Electric Con~ solidated 5s at 1023 and $1,000 Washington Gas 53 at 10115, Washington Gas bonds, series A, lflldl at lg! ;l;d the series B bonds at 1041, and 1 other&bvmd sales included two $1,000 transfers in Washington Raflway & Electric 4s at 877, two $1,000 sales in Anacostia & Potomac Railroad 5s at 83Y, and $1,000 Potomac Electric Con- solidated 5s at 10112, Later there were three more $1,000 nles and a $2,000 sale in Railway & Electric 4s at 8815 In the stock division Capital ’I‘rlc!,lon opened with a 42-share turnover at 803, ex-dividend. Thirty shares of Rail- way & Electric preferred came out N and 20 more at 96%. Commer Bank stock changed hands ’“. and Merchants’ Bank & Trust at mmm Monotype moved at 114%, nthaler, ex-dividend, at 107. 1, there were four 10- -hl in c-plhl ‘Traction at 80. Many visitors attended the opening lsulon Aside from the president, the 18, E. L. Hlllyer James M. Johnston and C. H. Gockeler, were pres- ent. Secretary Gockeler has held this office for many years, most efficiently. A handsome bouquet of flowers beside the rostrum added much to the general ap- pearance of the new quarters, while the new board and lighting system drew much commendation. First Day’s Trading Recalled. ‘The first call of securities was made November 6, 1881, and prior to the call tline of the aims of the exchange C. 3. Geckeler. other Mw;’sh 11 k‘:xswk urm:ln:md of well known, ent an successful citizens, should rank with the most honored of the country, and there is no doubt that its future history will show such a record.” ‘The securities first listed and called November 6, 1881, were: GOVERNMENTS, t: tended 3 "‘%::s: 6 3 exiended 3 i -25, States 4 1-38, rmmna States 4s. 1907. coupon. Shaten &8 507 reatmered nmmcr OP COLUMBIA BONDS. Permanent Improvement 8s Permanent Improvement 7s ear Fundin ty-vear Fun ine & 188 * Rindine 6 1008 RAILROAD STOCKS. Washington and Georgetown M tan mac Insurance t the first call there were 34 items onA'.he list, and the sales amounted to $2,500. board and called off once every Week for the benefit of the investing public in order than any one interested may know at what price they are selling. “The listed stocks have grown steadily in numbers in the past few years, and wvision has been made on the new g:rd for still further expansion. The complete list appears elsewhere in the financial section in connection with the regular daily sales report and the clos- ing bid and asked prices. Local Building off 79 Per Cent. Building construction in the fifth Federal Reserve district for February de- cnued 36 per cent from the corre- ding month of 1929. Both new con- uction and alterations shared in the declme New construction in February totaled $5,733,637, against $8,849,230 in Febru- 1929, 'h‘\le Il‘tlfll’l:o’!;l amounted to 6,670, against “Onl Baltimore of the big cities re- 'AJ a gain for the month, an in- crene of 18.2 per cent. Richmond had a decline of 74.9 per cent, lnd ‘Wash- ington fell off 79 per cent, the Rich- mond Federal Reserve Bank reports. Notes in Financial District. As noted in late editions of yuura\y l Star, President Robert V. Flemin, the Riggs National Bank has n elected a director of the Fidelity Invest- ment Association, the election taking place in New York. The annual Spring meeting of the District Bankers' Association at the Co- Jumbia Country Club will take place on Ann! 14, the arrangements being in e of Lanier P. McLachlen and C. H . Convention plans are always outhned in deuil at this gathering. George F. Williams, trust officer of the Lincoln National Bank, will give the first of a series of seven lectures before the District of Columbia Underwriters’ Association late today at bankers' head- W. J. Waller of the Bankers' 1mcnnnn will give a short talk -and 7T. Stanley Holland, assistant trust offi- cer of the American Security & Trust Co., will preside. “Common Sense in Investing” will be the subject of an address by Trowbridge Calloway, president of the Investment Bankers' Association of America, de- livered on the Halsey, Stuart & Co. an- niversary radio program Wednesday night over a chain of 36 stations. E. M. Berry, formerly vice president of the Baltimore Trust Co., and of the In- terstate Trust Company of New York City, has been elected vice president of the Banco di Napoli Trust Company, which will open its doors for business in New York about May 1. NORTKEB.]ZT PACIFIC. NEW YORK, March 25 (#).—Charles E. Donnelly, president of the Northern Pacific Rallroad, said today that traf- fic generally in the Northwest is prob- ably at the lowest ebb in five years, but added, “in the Spring things may be moving on our lines which have been held up during the Winter months.” He said February gross was off about $700,000 from the $6,343,840 reported for the previous February, and that net. was reduced about $440,000 from the $820,609 reported for the same month of last year. e o Canads now has 382,000 miles of im- proved roads. NEW YORK STOCK EXCHANGE THE EVENING STAR, WASHINGTON, D. C, TUESDAY, MARCH 25 1930. Recelved by Private Wire Direct to The Star Office. one-h D)o Adams MiIlis (3)..ey Advance Rumley. Advance Rumley % Ahumada Lead. Alr Reduction Allegh'y Cpf ww 6% Alleg C pt (53 )xw. Allled Ch & Dye(n$). Allis-Chalmers (3).. Alph- Pmc-nl @), Ch pf. Am Bank Note "l)- Am Beet Sugar... Am Bosch Magneto. Am Brake Shoe(3.40) Am Brown Bov Elec. Am Can (4)... 1 Am Car & Fay (8) Am Car & F pt (1) Am Chain pf (7). Am Chicle Co I'l*). Am Com Aleo(n1.60) Am European See. .« Am & For Power.... Am Hawaiian 8 8 (3) Am Home Prod(4.20) Am Ice Co (14)..000n Am International (3) Am La F & Foamite.. Am Locomotive (8 Am Loco pf (7). Am Metal (3). Am Metal pf (6) Am Ptano. Am Power & Lt (31). Am Pow & Lt pf (6). AmPELpfAst (5). Am Ra&Std San 1% . Am Republics. Am Rolling Mill (3). Am Seating (3) ewema Am 8hip & Com.eeee AmEm & Ref (§) e Am Solvents Chem. . Am 8ol Ch ov pt (3). Am Steel Fdy (3).. Am Stores (2)esveen Am Sugar Rtg (5)..: Am Sugar Rfg pf(7). Am Sumatra Tob.... Am Tel & Tel (9)..00 Am Tobacco (8 Am Tobaceo (B) (l)- Am Type Fdry (8). s Am Water Wks (n1), o EOTT ©a wo o ENOEANNARANNIRON R OR DI = Asso DG 2d pf (‘l).n Atch T& S8 Fe (10)... Atl Coast Line (110). Atl Guif & W 1 p2(6). Atl Refining (13).... Atlas Powder (4)..e Atlus Stors Corp(31) Auburn Auto (34 Austin Nichols. Austin Nichols pf. Autosale Autosoles Corp p Auto-StSat RA (3). Aviation Corp Del... Baldwin,Loco (1.75). Baltimore & Ohlo (1) Balto & Ohio pf (4).. Bang & Aroos (3%).. 8s8 o aSarald i @ Belding-Heminway.. Bendix Aviauon (3). Best & Co (3)... Bethlehem Steel (l). Bethlehem 8t pf (1)« Bohn Al & Brass ll)o Bilyn-Manbat (&) «s Bklyn Union Gas (5). Bruns-Balk-Col...ea Bruns Ter & Ry Bucyrus Erfe (1). Bucyruscv pf (3% ). Budd (E G) Mfg (1)« Budd Wheel (1).eeee Bullard Co (1.60).ee) Bulova Watch (3)... Burns Bros A (8)ee s Burns Bros B. . Burr Add Mach (1).s Bush Termni (3%).. Butte Copper & Zine. Butte & Superior.... Byers (A M).. Campbell Wyant (2). Canada Dry G A (8)o Canpadian Pae (10)..» Celotex ($)u.s Cent Aguirre As 1 Cent Alloy Steel (3) Chi & East Ill, Chi & Eant 11 Chicago& N W (8).e 6 Chi Poeu Tool, ! Chi Pneu T pf ChiR 1 & Pac (1 Chilids Co (3.40) Chrysler Corp ( City ice & F City Stores (50¢) . Clark quipment Coca-Cola (8) Comm Sol Comwith&! Dll Comm & Conde Nast Pub Container Cor A 1.30 Container Corp 5% Continental 19% Mflldh’»—x ul Be 233% 6% T 8% 2% 49 14 384 jundred share lots letter s (659 (283s), | Hich lLow, lots only. S, 27% Contl Shares (1).... 87% Corn Prod nll) 244 Coty. Ine (k! 26% Cream of wmmu) Crex Carpet. . Crosley Radio (1 Crown Cork & Seal. . Crown Zellerbach (1) Cudahy Packing (4). Curtis Publish pf(7), 6% Curtiss Wright Corp. Curt Wright Corp A. Cutler-Hammr(3%). Delaware & Hud l.). Del Lack & W (11).a Denv&RG W pf...: Dominion Strs (1.20) Drug Corpn (4)eeee Du Port de N (14.70), Dugquesne 18t pf (5).. Estn Roll Mill(h12).. Eastman Kodak (18) Eaton Axle &8 (3).. Eftington-Schild. ... Eitingoh pf (6%) Elec Auto Lite (6). Electric Boat. . 9% El Pwr& Lt (1). 4 El Pwr & Lt pf (7)eer Elk Horn Coal...ce0s 3% Emmerson-Brat A.a Eng Pub Serv (31)... Eng Pub Sve pf (5).. Eng Pub Svo of (5%) Eng Pub S otfs (31).. 55% Erfe RR..cccvcaanen Evans Auto Lag 3%. Falrbanks Co...ooom Fairbanks Mo: Fash Park Asso. Fed Wat 8. A Fid Pho Fire 1(3.6 Firestone T&R(1. 0; speo (80c).. Gen’l Food Corpn (l) Gen Gas&El A (1 Gen Refrac (143 @Stock snd Bales— Diridend Rate. = Add 90 Hish. Ia: 53 26 142 19 .am-u-fiumnu @ o :S B ol arand 0 » B o= Nenelohm jorey (=TT P P OTNF —--PY 3 ul Gen Theat Equip vts. 209 Gillette Saf Ras(nb). Gimbel Brothers. Goodrich pt (1) Goodyear Tire Goodyear 18t pf (1) Gotham Silk H (2%) Graham-Pai Granby Copper Grand Siiver Stra (1) Grand Union. Grand Unfon Gulf Sta Steel (4)... Hahn Dept Stores. Hahn Dept 8 pf(6%). Hall (WF) Ptg (m1) 60 Hudson Motor (5). Hupp Motor Car (2). Indian Refining ot... Inland Steel (4). Inspiration (4) Insurance Shars 45o. Interboro Rap Tran.. Intercontinental Rub Interlake Iron (1). Intl Agricultural Intl Bus Mach (n6) e Int Nickel of Can u) Intl Paper pf (1), Intl Printing Ink u) Int1 8h0® (3)4vevesen Int Tel & Teleg (2) Inter Dept St (3) Investors Equity (3). Island Creek Coal(4) 148% Johns-Manville (3).. 4% Jordan Motor Car Kan City Sou (8 Kan City Sou pt Karstadt (R) (1.02).. Kaufmann)D 8 (1%) Kayser Julius (4). Kelly-Spring 'H;o D Kennecott (5). Kimberly-Clank Klnmy GR (1) Kresge(SS)Co( Kresge Dept St Kreuger&Toll ( Kroger Gr&Bak Lago O] & Trans. Lehigb Valley (143%) Lehman Corporation Lehn & Fink (3). Liggett&Myrs B(15) Lima Locomotive. . Liquid Carbonie (4), Loew's. Ino (3)....,. Loew's ptx w (8% ). Loft, Ino...... Ludlum 8tl pf (6%). McCall Corp (2%). McCrory B (2). Mcintyre Pore M(1), pt T P(1434) McKesson & Rob (2) o B s b B B NEW HIGHS SCORED IN STOCK ADVANCE Rapidity of Advance Bringsl Out Profit Taking and Short Selling. BY STANLEY W. PRENOSIL. Associated Press Pinancial Editor, NEW YORK, March 25.—The stock market started out on a wild bull ram- page today, in which a hundred or more stocks were lifted to new high records gfl for the year. So great was the volume of trading that the ticker fell 45 min- utes behind the market, the delay invit- ing sufficient profit taking and short selling to interrupt, but not completely check, the advance by early afternoon. Extreme gains in the active issues ranged from 2 to 8 points, but at the end of the third hour scores of stocks had dipped a point or two below their early highs, Passage of ‘the tariff bill by the United States Senaté, loweflnz of the call money raté from 4 to 31, per cent and ' reports that operauoms of the % | United States Steel Corporation were being maintained at 80 per cent of ca- pacity, the first time in three weeks that they had not sh a decline, pro- vided thé background for the upward moyvement. Short covering also was an important factor in the advance, par- ticularly in some of the htgh-prloed 1ties, of which there is a small oating supply. While the call money rate dropped from 4 to 312 per cent, indicating the gmlng of the strain incidental to the eavy mid-month Federal income tax, dividend and interest payments, time money rates held firm. All dealers ad- vanced banke eptances Y of 1 per h:fing made nine successive Mncuom of similar amount. ‘The rapid advance in the market, ac- 291, | companied by unbridled speculation in some of the. pool specialties, led to ad- yices of caution and profit taking hy ].:"m of the leading commission 0 Revlvn\ of speculative activity in the olls was based on unofficial estimates of another sharp reduction in crude pro- duction last week and the prospects of higher crude and gasoline prices. Stan- dard Ofl of New Jersey and Houston, with gains of 3 points, were leaders of that group. Foster Wheeler, A. M. By- ers, Worthington Pump and stocks of other companies which 'manufacture pipe and oll machinery advanced in | 0% | sympathy. South Dakota Butter Gains. PIERRE, S. Dak., March 25 (). South Dakota produced 36,380,000 pounds of butter during 1929, an ine crease of 1,537,000 over the previous year. U. 8. TREASURY BALANCE. ‘The United States Treasury balance announced today, as of close of business March 22, was $376,489,925.65. Customs receipts for the month to date were $31,- 3“‘::’633’9110” ordinary expenditures, SILVER QUOTATIONS. NEW YORK, March 25 (#). -—Blr sil- ver, 4215, Mexlcan douln 31%. TREASURY CERTII'ICATES. Joseph L Weller £,77535 %5 § Tt © e P Money to Loan on Property in the District of Columbia First Trusts Only Immediate Attention Wm. H. Saunders Co., Inc. 1433 K St. NW. Dist. 1015 Sold in l.on—-SWO 00 (Ip Call or Wi Standard Colhlenl Shares Corporation Woodward Bulldh Met, 8788, Rall Eltlh Lunl Made Co. Wm. Gordon Buchanan Councilor & Buchanan Certiied, mer Buifilne™ National 611061116213 (Telephone Directory Omission) INCOME INVESTMENTS INVESTMENT DEPT. BRODIE & COLBERT 1707 Eye St. N.W. National 8875 First Mortgage Loa.ns Lowest Rate of Interest Long or Short Term Construction Loans Glover & Flather 1508 H St. N.! National 1753 NEW SECURITIES. | NEW YORK, March 25 (#)—New se- curities offered today include: Cleveland Union Terminals Co., $18,- 000,000 first mortgage 412 per cent sink- ing fund gold bonds, series “C,” addi- tional issue, dated October 1, 1927, and due October 1, 1971; priced at 98 and accrued interest, to yleld 4.60 per cent. Offered by J. P. Morgan & Co. and Associated Gas & Electric Co., $10,- 000,000 convertible 5 per cent gold de- bentures, additional issue, dated Febru- ary 1, 1930, and due February 1, 1950; iced at 91 nnd mwren. Offered by , Forbes & Co. Standard Gas & Electric Co., $9,000,- 000 6 per cent cumulative no par prior pre(ennoe stock; priced at $99 a share and accrued dividend. Offered by 8 b.nnng group headed by H. M. Byllesby uoblle County, Ala. 81 039,000 l% r cent rold and brid; June 1 i at 100 and interest. tranahan, Harris & Oatis, others. BANK CLEARINGS, NEW YORK, March 25 (Special) New York bank cluflngs wdty. $1,792, 000000 A year ago, 000,000. New bank balances wu.y $199,000,- 000 & year ago, $160,000,000. New York Federal Reserve credit balances today, $178,000,000; year ago, $140,000,000. Inc, and e Bureau Membership Gains. DES MOINES, March 25 (#).—With a 5,000 mcre-.u. officials see a_larger membership in the Towa Farm Bureau Federation lor 1930 than ever. ESTABLISHED 1399 ST YOUR FUNDS First Deed of Trust Notes Bearing 6157 Interest In Denominations of .00, $500.00 a: Consute - WELCH Reateors Loan Specialist 15th & N. ¥. Ave. N.W. National 4346 National Savings & Trust Bullding STATEMENT OF THE CONDITION UNITED STATES BRANCH OF Palatine lm?‘lce Company td. of London, En(hnd the 31st day of Decembe; B iy J1at 0T, R eSteT ok Cournbi Eode, Smerided June 30, 1902, and August ASSETS. Cash in bank. ... $433,100.66 Stocks and bonds All other assets. Total assets.. Net unpaid claims. . Reserve as required by 1a Balaries, nts, ted _di | Tnland navigation and || || transportation. are. motor vehicles, to nado, windstorm. cyclone, sprinkler, h leakage, riot, civil commotion and plosion. earthiquake, flood, nt assumed. 1929. . ... $481,274,607.00 year 1929 765,067.85 Money received ‘during the 1929 . 2,057,083.90 | ‘: 1,951,438.77 . MAKI) Assistarit O 8 Man Subscribed and sworn to before me this sm day of Pebruary, 1930, OOMEY, HRotuEy Public, Bronk, $3; NO¥ 388, District Agency Co. " General Agents 910 17th Street Member of Insurance Club of Washington STATEMENT OF THE CONDITION OF THE L ondon Guarantee & Accident Co., Ltd., of New York, N. Y. On the 3ist day of December, 1929, as re- quired under the District of Columbia Code, amended June 30, 1902, and Ausust 18, 1991, Capital deposit, in Cash...,v... $800,000.00 «o $41,585.06 41.783.06 175.338.83 13,674,420.49 All other assets , Total assets LIABILITIES. Net unpatd claims .. Rese: required 'b; Retnsurance premiums. . !l.l'::rles. Tents, expense: $16,566,582.43 $701,084.00 Comi ST eposi gt 8 Total labilit cter of business transacted during tneseas Tood! Gunnils LPMrietndneins insurance. Losses sistained during the year 1929 ~ $5,089.365.90 on y o55° “the 10,387,173.90 Eivended durii e year, 1920 mmgn .04 M Fiianager. H. LLOYD JONES. Comptrolier. Subscribed and sworn to before me this 13th day of February, 1930, (Seal. . W, Notary Public, New York Gounts No. 690, Commission ' expires March 30, 1930, D. M. LEA, Inc. General Agent 1410 G St. N.W. Member Insurance Club of Washington T RS 170,000 PEOPLE WITH DREAMS LIKE YOURS-- ARE finding the way to their desires through the In- wvestors Syndicate Plan. They are buying money in amounts from $1,000 to $100,000 on convenlent payments, muiti- plied by 549 interest com- pounded. Ask for payment schedules and full details. entlemen: Send me payment schedules and' full ition. |NVESTORS SYNDICATE FOUNDED-189%4 BARR BUILDING 'WASHINGTON, D. C. Telephone: Metropolitan 1879 OPEICES IN 81 PRINCIPAL CITIES FINANCIAL. REAL ESTATE LOANS Established 1899 MONEY TOMOAN 1l edo st Low intorst Raten BEFORE ING YOUR FIRST AND UICO.N.DN"I':}JIT Consult WELCH Realtors l'.'-’flgl-l, ’l" (National ".“.-..l TrIl( Co. Bldg.) 1520 K St. N.W. National 0475 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 Complete Investment and Brokerage Service Copy of Our “Fortnightly Review” Furnished om Request G. M.“P. MUREBHY & & Co. Members Nw York Stock Exchange 1510 H Street Connecticut at K WASHINGTON Telephone National 9600 New York Philadelphia Richmond . MORTGAGE NOTE —will still be paying the sdme satisfactory rate of interest when many of the alluring investments of higher, perhaps temporary, yield are only an unhappy memory to the short-sighted investor who puts profit ahead of safety. We Ofler fl’la Recommemi First Mortgage Notes F. B. KEECH & COMPANY Members of New York Stock Exchange ‘Washiogton Stock Exchange Chicago Stock Exchange New|York Curb Market Chicago Board of Trade Liverpool Cotton Exchange, Ltd., (Assoo. "l.‘mnn) New York Cotton Exchange New Orleans Cotton Exchange Bremen Cotton Exchange (Assco. Members) ~Winnipeg Grain Exchange N. Y. Coffes & Sugar Exchange, Inc, Rubber Exchange of N. ¥., Inc. DIRECT PRIVATE WIRES H CORNER 17TH ST., N. W., WASHINGTON NEW YORK PRTLADELPHIA STATEMENT OF THE CONDITION STATEMENT OF THE CONDITION OF THE OF THE Saint Paul-Mercury Indemnity Company of Wilmington, Del ,, Shulie Yoy otp e, et ot On the 31st day of December. 1920. s er ‘the District of Columbia Feauired under the DIStHer of Columbin Code. amended June 30. 1902, and Au- Code., amended June 30. 1902. and Au- bty ey & 2 s Sucioonions cash .. 0% 212 500.000.00 ¥ 1,000.000.00 g National Security Fire Insurance Company of Omaha, Nebr. g:sr IP O.f,lr!k., 00.00 sh in “bani e i008 Stocks and sod 100.00 L . 2.387.133.00 - 2ITIN8 $400.00 56.755.50 et 2.326,160.94 ié 4 hands of agents. 145.184.19 Ingerest cue and accrued. 20.93031 g 920 oL s Total assets 32.549.430.94 1198} Net unpatd claims sio 5080 e Reserve as required 162.706.4 Salaries, rents. expenses, . $157.206.18 xes. ety taxes. . 95030 403.386.52 30:000.06 306 5 D = 800, 17.461.73 X mmlu (sur- » 485.132.84 ‘Total labilities .$2.536.309.20 tal stock 3 00945 o Character of busiriess ltflr-r;uue‘d durs, ne 'the vear ccident. auto Surplus . . et billty, “liability ottier "than uto, Tolll {abilities. Tisk assumed 5 1589.308.929.00 automobile. Lowses sustained during the vyear 1939 740.312.73 nits 583.192.44 vear A% TOVE, Pregident. Expended _diilix LSH, Secretary. 3650,353.82 1,627.688.83 110.196.21 . CODAE. Vice Prosidiens ;n i warasa Deroce ot Subscribed and sworh to before me Shis 1208 aey of. BeBr Ny 10 of Fepruaty. 1030, PAUL'C BU EFE Notary Public. 0% 9% O SARGENT.“Notary _publie. (Seal) * Douglas County. Nebr. Commis< (Seal ) Ramsay County, Minn. My com- sion expires May 8. 1934, mission expires November 13, 1935. Howard W. Phillips & Co. General Agents 917 15th St. N.W. National 6161