Evening Star Newspaper, April 8, 1930, Page 12

4 %ok FINA (ERS PLANNING TRIP TO RICHMOND Large Delegation Expected|® to Attend Annual Federal Reserve Function. BY EDWARD C. STONE. ‘Washington bankers will send a good sized delegation to the annual meeting of the Stockholders’ Association of the Federal Reserve Bank of 'Richmond, which will be held Friday in the Vir- ginia capital. The meeting is open only to officials and directors in the banks which are stockholders in the association. Waldo Newcomer of Baltimore is president this year and George H. Keesee of the Richmond Reserve Bank is the per- manent secretary. The meeting will draw bankers from Virginia, West Virginia, North and South Carolina, Maryland and the Dis- trict of Columbia. Reports from of- ficers of the association will be fol- lowed by discussions of various Federal Reserve bank problems which always proves highly interesting and instruc- tive. Gov. Seay of the Richmond Bank will also take part in the program. ‘Washington bankers planning to at- tend the meeting include Victor B. Deyber, president of the Second Na- tional Bank: Frank J. Stryker, presi- dent, Columbia National; John Pool, president, Federal-American National; Robert V. Fleming, president, and George O. Vass, vice president, Riggs National: J. Prank White, cashier of the National Bank of Washington, and others. It looks as if the Lincoln National would send the largest delegation. President Floyd E. Davis, Vice President James A. Soper and two directors, Mel- vin C. Hazen and Fred A. Smith, are expecting to be present. Security Savings 17 Years Old. ‘The Security Savings & Commercial Bank was 17 years old yesterday, hav- ing opened its doors on April 7, 1813, Many congratulations were extended to the officers at the main office and the branch yesterday. The bank has shown rapid and sound growth during the 17 glr!. deposits on the March 27 call ing $5,938,619.83, a gain of over $176,- 000 over the call of December 31, 1929. President Julius I. Peyser and Vice President Fred McKee are the only active officers who were with the bank at the opening. These two men, with J. Thilman Hendrick, are the only di- rectors who were on the original board and are still serving in the same ca- PAcity. Other officers and directors in- clude: Francis G. Addison, jr.. vice president; Samuel R. Baulsir, cashier; T. Hunton Leith, assistant cashier; Latrobe Owen, assistant cashier; J. Louis Shipley, as- sistant cashier; Charles K. West. branth manager. _Directors, Edward-C. Baltz, Dion S. Birney, PFrancis A. Blundon, Diller F. Groff, Benjamin H. Gruver, Franklin W. Harper, John B. Harrell, Sol Herzog, William A. Hill, George E. Judd. Laurence Mills, Charles W. Mor- ris. Morris Simon, William W. Spalding, Milton Strasburger, Sidney W. Straus and Willlam C. Sullivan. Bankers' Bulletin Out Today. ‘The Monthly Bulletin of the District Bankers’ Association appeared today and contains much of interest. There is an abstract of the talk given by Ed- ward J. McQuade at the Philadelphia bank management conference, an ur- gent plea for more junior bankers to enter the annual essay contest, a resume of the recent meeting of the safe de- posit section, convention data and many news items regarding routine matters. It is one of the most complete numbers brought out so_far this year, and is edited by A. O. Dooley. A. B. A. Official's Wife Expires. E. E. Mountjoy, Washington repre- sentative of the American Bankers’ As- #ociation, received word today of the death of Mrs. Rome C. Stephenson at South Bend, Ind. first vice president of the American Bankers' Association, was one of the speakers at the convention of the Dis- trict Bankers' Association at Montauk Point, Long Island, last June, and has a host of friends among local financiers. His wife died in the family home, at South Bend. Local Securities Again Active. TLocal securities again displayed much activity today on the Washington Stock Exchange. The largest single sale was a 50-share block of Lanston Monotype at 117. Fifty shares of Carpel Corporation sold at 26'; and twenty-five shares at 26. Thirty shares of Federal-Amer- ican Co. common came out at 32, Se- curity Storage sold at 114!, Mergen- thaler at 1072 and Potomac Electric Power 54 per cent preferred moved at 108%. Washington Railway & Electric 4s led the bond trading, $3,000 going at 88. Capital Traction 5s sold at DG. while both Washington Gas A and B bonds sold at recent levels. Heard in Financial District. In the tabulation of Washington Bank deposits, which appeared in_The Bunday Star, the Potomac Savings Bank made an error in_the figures sent to Auditor Audley A. P. Savage, who com- iled the list. Due to a clerical mis- ke the Potomac bank’s deposits read $3,999,007.64 instead of $3,399,007.64. The bank regrets that it does not have th: other $600,000 and asks that the correct figure be published. Wiiliam N. Sturtevant has been made one of the managers in the local of- fices of Harriman & Co. He has been ‘with the broker house for some time, is a native of Washington and graduate of Yale. He is a member of the Chevy Chase and Racquet Clubs. G. Bowie Chipman is resident partner and L. W. | Todd, general manager of the local office. Aprfl 28, which comes on Monday, has been selected as the date for opening the new branch bank being erected by the McLachlen Banking Corp., on Four- teenth .treet, opposite the Bureau of Engraving and Printing. The structure is practically completed and has at- tracted wide attention from passersby, the style of architecture being entirely dlflfl'ent from that of any other bank in the ci R.uervmons for the coming Spring dinner of the District Bankers’ Associa- tion at the Columbia Country Club are coming in steadily, according to Presi- dent W. J. Waller. The occasion prom- 4ses to be very largely attended. The dinner does not start until 7:30 so that those who attend the opening ball game \ wul bave ample time to attend. Insurance Officers. At _the meeting of stockholders of the Corcoran Fire Insurance Co. yes- terday the following officers and di- rectors were reelected: Frank McClel- hnd, president; Robert. D. Weaver, ice president; F. H Ridgway, secre- t.try and James H. Pugh, assistant secretary; directors. Albert T. Coumbe, Watson F. Clark, B. Lowndes Jackson, Charles E. Marsh, Willlam L. Miller, Walter S. Pratt, jr, F. H. Ridgway, Mnd‘n. Weaver and Frank Mc- 60 Rail Ties Farm Sideline. CARTHAGE, Tex., April 8 (A).— Farmers of Panola County, Tex., make extra_money while farm work is slack by | cutting railroad ties. More than 200,000 crossties have been cut and from the vounty during the last year. —_— U. S. GRAIN EXPORTS. By the Aumma Press. of grain from the United tes in the wuk ended April 5 totaled 1,201,000 bushels, as compared with in the preceding 'seh the corresponding week Mr. Stephenson is |_ STAR, WASHING'TON NEW YORK STOCK EXCHANGE luum-yrnnumnhnummm (Canunued_hum Page Stock and Dividend Rate. Kelly Spring 8% of. Kelsey Hayes (3). Kelvinator Corp. Kennecott (6). &inney G R (1) Kinney (G R) pf (8) Radi Prev 1980~ Low. 2004 % 808 3 10) Bales— Add 00 High. Low. 31 87 224 564 32% 9y 4% 48 493, 106% 106% 32% 31% 631 63y Lambert Co (8). ll:- Rubber & Tire. . y Coal Leh Val Coal pf (3). Lehman Corporation Lehn & Fink (3).... Libbey Owens (1)... Liggett & Myers(15) Ligzett&Myra B(16) Liggett & My pf (7). Lima Locomots: Link Belt (2.60). Liquid Carbonie (4. Loew’s. Inc (3) % Loew's, Ino pf (64 Loewspf x w (83 Loft inc. LouG&El A ll*)-. Ludlum Steel (3)... McAndrews&F 12.85. MacA & Forb pf (6). McGraw-Hill (2) Mcintyre Pore M(1). McKeespt T P(143% ) Macy(RH) & Co(n2) Magma Copper (6).. Mallinson & Co Manati Sugar. Man Elev mod (d8).. Maracaibo Oll Exp.. Market St Ry pr pf.. Marlin-Rock (14%).. AMarmon Motor t3). . Mathieson Alkil (3) May Dept Strs (n3).. Michigan Steel 1234 ) Mid-Cont Pet (2).... Middle States Oll et. Midland Steel (3)... Minn Moline Pwr. Mo Kan & Texas Mo Kan & Tex pf(1). Missourt Pac pf Mohawk C Mils ). Monsanto Cb (g1%). Montgomry Wrd (3) Moon Motors. B Mother Lode (40e). . Motor Meter G& E. . Motor Produets (3). Motor Wheel (3) Mullins Mfg......c0 Mullins Mfg pf (7).. MurrayCor (b2 %stk. Myer(FE)& Bro (3). h Motors (6). ... Natl Alr Trans Natl Bellas Hess. Nat Biscult, n (2.80) Nat Cash Reg.A(14). Nat Dairy 132) Natl Dept St 18t (7). Nat Distiliers (2). National Lead (18).. Natl Pwr & Lt (1)... Natl Supply (6). Natl Surety (6, Nat Tea Co (3) Nelsner Bros ( N a Copper (3).. Newton Steel ( N Y Airbrake (3. H & Hart (6).. H&Hpt(1).. 22222275 Y State Rys pf. N ¥ Steam pf (6). N Y Steam 1st pf (1) Norfolk& Westn(10). Norfolk&Wstn pf(4) North Am(b10%stk) North Am pf (3) Nortnern Pao (§). North Pac ct Norwalk Tire O11 Well Supply. Oliver Farm Equip. Olivr Fr Eq pf A(6).. Olsvr Fr Eq ev pt(3). Omnibus Corp. Orpheum Cir pt Otis Klevator n(2%) Otis Stee] (33%)..... Pacific Lighting (3. Pacific O1} stubi Packard Motor (1).. Zln Pan-Am Pete B. . Panhandle P & R. Penick & Ford (1)... Penney (J 8) (3).... Pen (JC) pf A (¢ Penn Dixie Coment. . Penn Dixie Cemt pf. Pennsyivania RR People's Gas Chi Pere Marq pr pf o Phelps Dodge (3). .. Phila Co 6% pf(2%) Phila & Read C& 1. Enillips-ones (3). .. Philip Morris Phillips Petrm K Phoenix Hoslery Plerce-Arrow A. Plerce-Arrow pf ofh Pillsbury Flour (3 Pirelli of lulvtl 4) P Rican Am To (A)1 P Rican Am To (B). Prairie Oil & Gas(3). Prairte Pipe L (15).. Pullman Corp (4).. Punta Alegre Sugar. Reading Istor Real 811k (6)..... Rels (R) & Co.... Rém Rad (1.6 Reo Motor Car Repub Ir & Steel (4). Rep IT&Stl ctfs (4). . Rep Ir & S pf otfs(7) Revere Cop&B pf(7) Reynolds Spring ... 108 83% 384 37% 25 110% 109% 9% 9 82% 4 + 107% 107% Missourt Pacific. 95 mm 1384 4 944 ‘5 40% 36 6814 3 69% 102% 101% 14 21% BT 84 55 2% —Prev. 1930.~ % Reynolds Tob A (3). Reynolds Tob B (3). Richfleld O1) (2).... Rio Grande O1l (3).. Ritter Dent Mfg (13) Rossia Ine (3.3 Roval Duteh Safeway Storest 8§t Joseph Lead (13 St L-8an :r.ll l:) Stock ana Sfll Schulte Retall pf(8) Seaboard Alr Line . Seaboard Air Line pf Seagrave (1.30).... Sears Roebuck (323 Second Natl Inv. Seneca Copper. Servel Ing. . Sharp & Dohm fln-uuekt!‘fi) Solvay Am ln L3 So Por Rico Sug (3). Southern Cal Ed (2). Southern Pacific (§). Southern Rwy (3)... Spang-Chalfant. Spang-Chalfnt pf(6) Sparks Withngtn(1). Spencer Kelg (1.60). Spicer Mfg - Splegel-May-St (3).. Stand Brands (13%). Std Brands pf {7)... Stand Comm Teb. Stand Gas & EI 3 Stand G& Epf (4).. Stand O of Cal (2%). Stand Ofl Exp pt (§) Stand Oil of Kan (2) Stand O1I N J (13).. Stand O1I N Y (1. Sterling Sec pf(1.20) Sterling Sec ov pf (3) Stew-Warner (h 3%) Stone & Waebster (4) Studebaker Co (5).. Superior Steel. ... Sweets of Amer (1).. Symington (A). Telautograph (11.30) Tenn Cop & Ch (1). . Texas Corp (3 Tex Gulf Sul (4). Texas & Pac (5) Tex P C & Oil. Thatcher Mfg (1.60). The Fair (2.40). The Fair pf (1) Third Avenue. Thompson J R (3.60) Thompsn Prod(2.40) Thomjpson Starrett. . Thomp-Star pf(3%) Tide Water Asso 6 Timken Det Ax( Timken Roller 13). Tobaceo Products. Tobacco Products A. Tob Prod dv ctfs C.. Transcontl Oil (30e). Transue & W (1), Trico Prod (3% Truax Traer (1.60).. Twin City Rp T (4).. Twin City R T pf(7). Und-Ell-Fisher cll Union Carbide (3. Union Oil of Cal uz) Union Pacific (10)... Union Pacifie pf (). Union T'k Car (1.60). Utd Atrcrafi& Trans Utd Atrcraft&T pf 3. Utd Biscuit (1.60). Utd Carbon (3) Utd Cigar Stores. United Cigar Strs pf. Utd Corporation. ... utd Corp pf (3)... United Eleo Coal. United Fruit (4). Utd Gas & Imp(1. Utd Gas & Im pt (5’ Utd Paparboard. United Stores . Frelght (3)..... Ind Alcobol (17) Ptnc.l‘ury @y Pipe 1st pf (1.30) Utl) Pwr&Lt & (ei). Vadsco Sales Corp. .. Vadsco Sales pf (7) Vanadium (14). . Vick Chemical (334). Virginia-Car Chem. . Virginia-Car 6% pf. Va El & Pwr pf (6).. 10s Va El & Pwr pt (7).. Vule Detinning (4) Vul Detinning A (4). 60 Wabasn...... 4 Wabash pt, A (5). 2 Waldort Sysum (13) 176 Walworth Co (3).... 12 Ward Baking A. 4708 Ward Baking 8 65 Ward Baking pf (7). 1z Warner Bros Plo (4). 305 War Bros P pf (3.30) 2 Warner-Quinian (1). 68 Warren Bros (19)... Warren Fy&Pipe(3). Wess Oll & Snow (3) 8 Wess O & Sn pf «4. e West Penn Ei A (7). 10s Western Maryland. Western Md 2d pf. Western Pacific. Western Pacific Western Union Westinghse A B (3). Wesiinghse E&M Westhse E&M pt (6) ll'lh Weston El ins (1)... 1 Wextark Radio Strs. White Rek MS(143%) White 8w Mch pf (4) Wilcox ULl & Gas. Whicox Rich, B (3). wmn-(zv.r 11.30).. Worthington Pum Weorth Pump B () Wrigley Wm (4). Yellow Truck & C. Young Spring (3) Young Sheet & T (| Zeniih Radio. RIGHTS fll'lll Am Holl M. June 16 Chi R1&P... May ¥ Con Fil Ind...Apr 10 1% int Tel&Tel May 1 B May 1 K .Apr 28 B Apr3l 1233 104% 491% Sales— Dividend Rate. Add 00 lln. la: i-m turity. Offered by J. D C SDAY. NEW SECURITIES NEW YORK, April 8 (#)—New se- curity offerings y include: Erie Railroad Co., ]50 000,000 Refund- ing and Improvement Mortgage 5 per cent gold bonds, series of 19850, dated April #0930, ‘and due Aprll 1, 1975; priced at 9515 and accrued interest, to yleld more than 5.5 per cent to ma- P. Morgan & Co. a5y | and others. 5% ,‘,;./. Board, $7,500,000 20-year 52 per cent 1044|1930, ‘and to mature April 1, 11714 | priced at 9212 14m%| Sield 615 per cent. Sydney, New South Wales, Metropoli- tan Water, Sewerage and Drainage sinking fund gold bonds, dated April 1, 1950; and accured interest, to Offered by a bank- 67% | ing syndicate composed of Bancamer- 28T% 2 B4l 37% 99 % 507 76 T% 43 2% b % 3% Sales of Stocks on New Yors kxchange 612,400 2,961,900 10 13:00 Nooo PM n in the above table & oayments ¢ “lacest quarturty or A Unic ot trading less than 100 Ahaten. T 1n"st0ck C§ Bayable in serip. 1 Fur 1% in stock © 1,927,800 , sssa00 al cash et S outty “Suciar Farty” s T e ~xira a iast no regular-rate. b Payable in stoek. d ‘Payable when earned. & gash or stock. ! Pl Ko Pz 0% 1n stock g Flus 6% in o 8% in -tock ¥ Plus 3% in METAL MARKET. NEW YORK, April 8 (#).—Copper quiet; electrolytic, spot and future, 18. Iron quiet, unchanged. Tin stead: spot and nearby, 36.37; future, 36.62. Lead quiet; spot, New York, 5.50; East St. Louis, 540. Zinc quiet; East St. . l.ouh. spot and future, 4.95-5.00.. Anti- "coxvxm'lox DATES. ‘The National Chain Store Associa- tion will hold its annual convention at the Palmer House in Chi 29, 30 and October 1, Lvon?. “execuuve m;a association, 1 of this clty is vice presideist of the of- ganizatios. on G. Yonber fl-n cmkd firsts, 26%; mrlcl 4836 et B4sa38, ordinary 3a2312; storage packed firsta, packed CHICAGO DAIRY MARKET. 8 (P).—Butter mux-lyxm 37 1 26% 11 |ica-Blafr Corporation, E. H. Rollings & 70 10 | _OCity of Buffalo, N. Y., $2,880,000 cou- 281 | pon or registered goid 3%, 33| per cent and 5 per cent 80 |May 1, and due May 1, 183 | consisting of $1,200,000 3% per cent Sons and others. T cent, 47, nds, date 1932 to 1964, APRIL 8 each vear, 1932 to 1960, and priced to yleld from 3.75 to 3.95 per cent, accord- ing to maturity, and $930,000 5 per cent bonds, due $51,000 each year from 1932 to 1940, and $42,000 each year from 1941 to 1950, and priced to yleld 3.75 to 4.00 per cent, according to maturity. Offered by Roosevelt & Son and others CROWN CORK & SEAL. Special Dispatch to The St BALTIMORE, April 8.—Net profit of the Crown Cork & Seal Co., Inc., and its wholly owned domestic subsidiaries (United States operations only) for the year ended December 31, 1929, was equivalent, after depreciation, amortiza- 01(?, interest, Federal taxes and divi- tive preferred stock, to $5.74 a share on 272,752 no-par shares of common stock. Net profit included $1,032,996 profit on sale of investments. The net sales of the company for the 3 | bonds, due $40,000 each year, 1935 to 1% | 1 64, and priced to yield 3.90 per cent; $750,000 474 per cent bonds, due $25,000 Furnished year 1929 showed an increase of approx- imately 7 per cent over the year pre- vious. Complete Investment and Brokerage Service Copy of Our “Fortnightly Review™ on Request G. M.-P. MURrPHY & Co. Members Nw York Stock Exchonge 1510 H Street Connecticut at K WASHINGTON New York Philadelphia VERY OUNCE of this great truck represents extra value. It’s all truck from front bumper to tail light. The frameis of 6” pressed steel channel. There is 58 horsepower capacity loads through any kind of going without a halt. There is the smoothest speed any such truck ever offered—safe speed which your men canreally use to pile up work-pe: Try to match it. Finda compares in husky power and solid SUPER-POWER- »-TON RANGE TRANSPORTATION ENGINEERS - 1ER TRUCK SALES CONTROLLED BY GENERAL MOTORS TRUCK COMPANY N.E. SPECIALIZING IN COMMERCIAL TRANSPORTATION Richmond Branch "|’And Lesse Truck Service Station, 107 West Canal St. COVINGTON, Va.~Wright Motor Co. ROANOKE, Va.—Hyde Truck Co. GLOUCESTER, Va~B. F. Weaver. SUFFOLK, Va.—Briggs Motor Co. 3 31a83. 1%, BROADWAY. Va.~—Miller-Foover Motor Co. Telephone National 9600 Richmond for taking cause of the giant r-day. duced this truck. truck that dend requirements on the $2.70 cumula- | strength—and you’re talking prices that run ’'way above this. truck at this price and you’re shy the power, the ruggedness in every detail, the balance and perfect load distri- bution, and a score of factors that will ecarn money for you. facturing and engineering that pro- Here are the proved principles of truck design and construction which FINANCIAL BALTIMORE SHOWS GAIN IN COAL SHIPMENTS Special Dispatch to The Btar. BALTIMORE, April 8.—Export coal shipments from Baltimore aggregated 79.720 tons during the first quarter of 1930, compared with 46,122 for the three months of 1929, according to & report of the export and import bureau. Grain - exports slumped badly, how- ever, only 1,146,867 bushels being ship- ped, compared with 9,607,158 bushels in the corresponding period of 1929. parIOUr exports improved, with 34,171 rrels in the 1930 quarter, against 23,- 055 barrels for the quarter last year. NEW YORK, April 8 (8pecial).— Customs recelpts, or ‘A‘iudtlea collected | New york bank ey Ayear axo, on import cargo, reached a total of | clears $1.734,000.000 $1,718. $2.400,095.42 Tof three months of this | New York it | year, 'slightly below the $2,939.916.80| y "Y/*5ces 197000000 174.000.000 collecied for the first quarter of 1929.' 174.000,000 140.000.000 For nine months of the present cus- toms fiscal year receipts have been $8,728,482.13, a deficlency of $227,070.82, as compared with the nine months of the preceding year. STANLEY'S PROFITS. Net profits of the Stanley Company of America, excluding extraordinary profits arising from the sale of invest- ments but after all charges, including Federal taxes, for the quarter ended November 30, 1929, were $1,179,986. BANK CLEARINGS Fed. Res. credit balances. F. B. KEECH & COMPANY Members of New Yeork Steck Bachange Washington Steck Exchangs Chicage Steck Rrrhange Mow York Curb Markes Chicage Board of Trade Liverpool Cotten Ezchange, Ltd., (Assoo. Mombore) New Yerk Cotton Exchange Mew Orieans Cotton Exchange Bremen Cottos Kxchangs (Asscs Mombors) Winnipeg Grai Exchange W Y. Coffes & Bugar Ruchange, Ina. Rubber Bachaage of N. Y., Ine. e DIRECT PRIVATE WIRES H CORNER 17TH ST., N. W., WASHINGTON NEW YORK 1%2 -'Ton RANGE Model T-194 . . . 8,500 lbs. “Straight Rating” (total gross weight, including load) . . . 2 other chassis and 18 types available; price chassisonly,f. o. b. Pontiac, Mich. have established all work and econ« omy records in this field. Real four-wheel truck brakes . . « maximum mileage tire equipment ...abig development in steering and handling ease . . . the finest cab ever put on a truck . . . strikingly hand- some appearance . . . YOU'LL SEE PLENTY, WHEN YOU SEE THIS TRUCK! Here’s a new yardstick on value in this capacity range. Come in and look it over! Find a That’s so be- resources in manu- (Time payments financed at lowest rates by our own Y. M. A. C.) 17T EPE TRUCK LEASES 30-38 M St. 1265 S. 0. S. Call—Metropolitan 0505 Model T-254 (76 h.p.) . . . 8500 Ibs. *‘Straight Rating” (total gross welght, including load) « « + 8 chassis and 14 types aveilable . . « price chassis only, f. o. b. Pontiac, Mich. Because of the great interest shown in the 1930 General Motors Truck Line since their announcement the SPECIAL EXHIBIT —at— 2117-21 L St. N.W. will be held .open All This Month MAINTENANCE Lease Truck Service Station Paint ‘and Body Shop 131 Que St. N.W, Dealers REEDVILLE, Va.—R. PETERSBURG, Va.—Ray Truck Sales Co. cm\mmsvn.u, MADI!ON Va.—J. 'AUNTON, Va.—Motor. SIIB Co. PHD“U!. Va.~H. M. Tessler. A MODERN TRUCK FOR EV NEWPORT NEWS, Va.~—Sheffjeld Motor Truck Co. LYNCHBURG, Va.—Kabler’s Garage. NORFOLK, Va.—Briggs Motor Co. BERWYN, Md.—Gingell Motors. ROCKVILLE, Md.—Brosius Bros. & Gormley, Inc. B. Moore, Inc. Va.—Carpenter Motor Co. B, Carpenter. SRY PURSE AND PURPOSE