Evening Star Newspaper, April 14, 1930, Page 13

FINANCIAL. LANSTON HIGHER: ‘TRACTION LOWER Contrasting Moves Today on Local Exchange—Bonds in Good Demand. BY EDWARD C. STONE. The Washington Stock Exchange dis- layed an excellent demand for bonds ay and two interesting contrasts ln, the stock division. | Lanston Monotype continued its 8- point advance of last week, advancing ' 4 points since Sat- | urday to 129. Only 10 shares changed hands. The mar- ket for the stock closed with 127 bid and 131 asked. Capital Traction opened lower than it sold last week and clos:d lower than it opened. ‘The first sale was a 10-share lot at 173;. Ten shares then sold at, 77%. 10 more at 773, 10 at 77 and 10 at the close at 78!, The day’s final quota- tion was 76 bid and 76'; asked. ‘Three local bank stocks appeared on | the board today. American Security & ‘Trust sold at 425, Washington Loan & Trust at 500 and Munsey Trust at 1621;. Mergenthaler Linotype regis- terod 108. W. J. Waller. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Notice—All stocks are s0ld” in one-! excepting those designated by the letter which shows those stocks to be sold in odd lots o Sales of Each Stock Compiled to 12:30 P.M. ~Prev. 1930.— Stoek and Salos— High. Lo Dividend Rate. Add 00 High. 22 Abitibi Power & 64% Abitibi P& P pf (8).. 46 Abraham Stra . 23% Adams Kxpr (1 60).. 28 Adams Millis (2)..,. 12 31% 11% Advance Rumley... 31 214 22 Advance Rumley pf. 10 38% % Abumada Lead..... 6 1% 118 Alr Reduction (3).,, b5 144 21 Alr Way EI Avl!"). 10 334 1% A R 2% 7 Al B 99% Alllance Realty 13% 108 95 28 Allegheny Corp..... 99% Alleg Cp pf ww (534) 95!y Alleg Corppf (b%). 70~ Alleghany Stl(t2.80) 117 Allegheny & W (6 2B5% Allled Ch & Dyetn$) 6 106 2 72 . 108 117 17 882 121 1 1234 123% 12 % . 6% 65t 2% Amal Leather 18 Amerada Corp (2) 6% Am Agricul Chem. 77 Am Bank Note (13) 7 Am Beet Sugar 36 Am Beet Sugar 46% Am Brake 8hoe(3.40) 118% AmBrS&F ptf (7).. lOl l23 8% Am Brown Bov Eles 10 19% 60's Am Brown B E pf(7) 50s 75% 117% Am Can (4) . 220 154 1404 Am Can pt (1), 65 Am Car & Fdy (. 865 Low. 59 81 19% 38 1 1484 320 1044 72 17 725 123 19% o4 1514 65 Prov. 3:80 Close, 12 41% 40% 404 2 864% 864 864 6 59% 6 34% 34% 34w 31 204 38% 14 144 3% 2 T 95 92 33% 32 320 2 99% 99 99% 105 72 117 33214 65% Thl 152% Z 1444 144% 144 66 110 2 110% 110% 110% 64 65 75 Am Chain pt (7). 36% Am Chicle Co (13%) 19% AmCom Alco(n1 60) 17 23 3 87 64% 23 564 64tn 5 1018 100% 100% 5 49 48w 484 -3 56'% . 723 99% 96% 96% ). 60s 99 Amé&Forn Pwr pt(7) Am&Forn Pwr 2d pt. 19% Am Hawahan S8 «3) 99 2 109% 109% 109% 98 98 98 M 86 Container Corp B, Cont! Baking A bl Contl Baking B 69 5% 19% 2% 87 140 244 26% 0% 13% 64 28% Contl Insur Continental Mot Contl O1l of Del. Cont] Sbares (1 Corn Prod (13 Coty. Ine 1k3). Cream of Wht( Cro Curt Wright Corp A. Cutler-Hammr(33). Davison Chem. STOCKS IN ADVANCE AFTER EARLY DROP Offerings Dry Up on Decline and Rally Marks Afternoon. BY STANLEY W. PRENOSIL, Amsociated Press Pinancial Editor. NEW YORK, April 14—The stock & market opened ln'e.uhr today, ran into a moderate volume of selling in the morning and then turned upward in the , early afternoon. In Lhe early decline scores of issues dropped 1 to nearly 8 points on & combinal lan o( profit taking | pi and bear selling, but offerings quickly dried up and the market turned upward under the leadership of the farm im- plement, tobacco, communication, air- craft and utilities issues. ‘There was little in the week-end f'oppea nearly 4 pointa to 9834, duplicating the year's low Calumet & Arizona and American motive sank to new low ground for the year. SHORT-TERM SECURITIES. 0 Roc Chile Copper Co. g:d-hy uflln’ gfl s;ufi . Mot. A 835355532558z iEEEs! & S F news to influence the price movement. | Ut Reports from steel centers indicated some pick-up in activity this week, but the demand for copper continued light, with producers showing little disposition to cut the price of the red metal, which has been meintained at 18 cents a pound for the past year. Retail business showed marked im- provement with the approach of the Easter holiday. Call mon& renewed unchanged at 4 per cent, with indications that the rate would be maintained or work higher. Only a moderate volume of funds was offered, with the demand fairly heavy. Payment of State income taxes, due to- morrow, was believed in some quarters to account for the temporary stringency. Allied Chemical, which scored a spectacular advance last week in belated Bankers Have “Farm Committee.” BLOOMING PRAIRIE, Minn, April 14 ().—A banker from every Minne- sota county will have a place on the committee on agriculture of the Min- nesota Bankers’ Assoctation. Wagon Jobbers Increas NEW YORK, April 14 (#).—The wagon jobber is a growing factor in the distribution system, according to the As- soclated Grocery Manufacturers of America. ‘There are more than 10,000 wagon jobbers in the country, and they FINANCIAL, Consult Us Regarding Your Maturing Mortgage. LONG-TERM REAL ESTATE LOANS Homes, WE MAKE FIRST MORTGAGES ON Apartments and Busine: Proporties in the District of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue (BOUGHT BY AN OKDER FROM U. Mortgage Loan Cor: New York Life Insurance Company AMERICA'S FINEST LUGGAGE | CROWDS! BUSY! HURRY! . DISTRICT SUPREME COURT) BANKRUPTCY STOCK OF “INNOVATION” LUGGAGE $20, 000 worth of Wardrobe Trunks, Leather Gladstones, Suit Cases, Kit Bags, Brief Cases, PRICES Bags, hundreds of Leather Novelties. The bond market opened with $1,000 | Potomac Electric consolidated 5s selling at 102!;. Washington Gas 6s, series B, came out at 105'2, while the Gas A bonds sold at 103, Barber & Ross 6!2s changed hands at 91, and there were five $1,000 trans- 8). 12 actions in Potomac Electric Power 6s 2 lflflh 108!‘ losu at 107, 2 45k 45% 45w Washington Gas Light stock was 60s 91 89 89 quoted 126 bid and 132 asked, but there 30 1% 14 ‘were no sales, 1708 7% T 5% Over 200 to Attend Dinner. 100 AmPowk Ltof(8), & 10en 100k soa 2 106 106% 106! . . P More than 200 local bankers will at- T AmraLoraau) e a issue of our Financial & Economic Review. Organized 1879 tend the annual pre-convention dinner Am P&L pf A st 2 884 384 b Copy mailed upon request. JOHN JOY EDSON, President tonight at the Columbia Country Club, 304 Am Aun;asuut 3% 3TH 4 Assets................5$5723,083.61 probably the largest number who have 20% Am Republics. 3 33h 33% i i i ever been present at one of these Spring Subscription for the 98th Issue of Stock Being Received 803 Am Roiling Mill 91 918, meetings. This is the sixth of the kind. 59 Am Safety Razor (§) 62% 62% President Wilmer J. Waller of the 17% Am Seating (3).. 2 21 91 financial way. District Bankers' Association will pre- Join the Equitable side, while Senator Pat Harrison and Am Shipbuliding (6) 0 8 ”III 915 F St. N.W. Attorney Carter B. Keane are to be the 09% Am Sm & Ref (¢ 3 8% FIRST 4 Am Hide & Leather 27 Am Hide & Lea pf 2 3 1% Duluth S S & Al Prod(4 2 ? 3% 82 Dunhill Inter (34 35w Am Ice Co ". 1124 Du Pontde N (14.70) 20% Estn Roll llllllh'l). response to an excellent annual report, are rapidly increasing. 50c on the Dollar “Indestructo” and “Neverbreak” Wardrobes included as Low as Special Stack of General Motors This stock is discussed in the April 14 Equitable Co-operative Bldg. Ass'n 50th YEAR COMPLETED WALTER S. PRATT, Jr., Secretary Surplus & Profits......$1,75591157 J-A.W. Iglehart & Co. Investment Banhers 719 Fifteenth Street, Washington, D. C. Systématic Saving Accomplishes Most ~—If you adopt a set plan for sav- ing and stick to it you will find much will be accomplished in a zhief speakers. George O. Vass will out- 4lla AmSnumt Co (13%).. an line the convention plans so far as com- ' = 15 Am Solvents Chem. . 17% pleted. | 25% AmSolChovpf(3). 2 284 2 284 An afternoon of golf is preceding the 4d's Am Steel Fdy (3)... 7 4T dinner. Active bank officials are com- 46!z Am Stores (2)....00 51 peting for the Robert V. Fleming Cup, 60's Am Sugar Rfg (5).. p % 664 offered for the first time this year. The 15% Am Sumatra Tob. 17 committee in charge consists of Lanier 6 226 LTd% 269 1724 P. McLachlen and C. H. Pope. 197 ‘Ao Ton B 19 244% 2391 242 m Tobaceo « . 2 242 2 Telephone Earnings Compared. 120 Am Tobacco pf’l‘).’ B; f;?; f;; f;;:: Local holders of American Telephone 125 AmTypeFdry (8).. 2139 139 139 & Telegraph stock will be interested in 885 Am Water Wka (81), 88 124 121% 121% the comparison of earnings for the first 19% Am Woolen pt 2 38 378 38 three months of 1930 with the similar 5 Am Writ Paperctfs. 4 &% 7% 8 period in 1929. 8% AmZincLd&Sm... 2 14% 15% 13% 3mos, ending 3 mos, endine 9% Anaconda Copr (7).. 211 71% 70% 7lin D:‘a‘:'n'm:s Max Sl 4 40 Anaconda W&C (3). 3 4ok ddle ddl Rherent. R 2 118.0 - 3 Anchor Cap fieoy - 5 Bk 4B G0 elephone‘opei chor Ca; A o g Teverues 21, 28,910,067.91 b Wi it o oy l;:: I:?; efaneous revenues ..... 311.456.16 337,223.98 Archer-Dan-M (2). 2 = 2 _— 74% Armour Del pt (7). 7 . Exp Ol e ¥ 9.58 5% Armour li (A) 6 e e 6_21‘. Armour I1i (B) let earnings. .. shodar b duct interest. Baltimere, Md. Washl: Charleston, W. Va. Winehester, Va. 46w FourthNatl Inv 16% Fox Film A (§¢. 384 Freeport, Texa 3% Gardner Motor. . Gardaer Moter....., ’ Sound Financing for Your Home Am Invpf (8).. \ SAFE MORTGAGES 105 Gen Baking pf (8. —_—— 0% 26% Gen Bronse (3) 340,500,765.00 $40,439.865.39 28 A (544 26 Gen &hl Asso DG 1st pt 5 b 270251200 30,871,260.0¢ P! 951s 51 Gen C'", . G PROVIDING FOR YOUR HEIRS Conditions change quickly and with them come fluctuation of security values. But if you want to make doubly sure of the stability of your invested capital you will have that satis- faction in our 6Y2% FIRST MORTGAGES So invested, your principal is secured by competently ap- praised real estate, and the in- terest immune from any change throughout the life of the mort- gage. May be purchased in amounts from $250 up. B. F. SAUL CO. National 2100 925 15th St. N'W. n—.mn" Qv 21y 219% Ateh T & § Fe (10 5 2364 1023 Atch T&SF of (6)e.. 3 105 105 *Sublect. to minor ch when final 165 Ati Coast Line (110) S L ures for March are avaiable. 65 AUGA W ludies.... 2 6u% 66 66 % v6 59 AUGUIT& L 6% Atl Refint 30 40m 48h 49l 490 8112 Ala % Z 99 9Y% 99 100 « 3 35 34 sS4 6% Atias Tack... 1 6% 5‘: Gt 1752 Auburn Auto (3 B 285 ¢v8% 266%m 56 Austrian Cred ( 2 56W 564 56m 415 Autosales....... 3 5% T 8K 57 Auto-StSafRA (3). 53 524 b2 4% Aviation Corp Dal. .. 8 9 304 Baldwin,Loco (1.76). 11 34 334 33% 111 Baldwin Loco pf (7). 10s 114% 114% 114 the financial situation developed pro- e R L 5 9 9% rtions exceeding _all _anticipations, 3 :?w;ys, hovever, within the reserves set | Lo DarmEE R 70' e e up for the purpose. o 3 : " The fact that the life insurance com- L’;,, o 19% 193 panies were able to meet the situation e T 1] &0 effectively gave fresh evidence of the e L) stabilizing influence of this great force P e DDA in the Nation, Mr. Gold asserts. 32% Bendix Aviation (3), Record Production of Briquets. 81 Best&Co (3)......, 92 Bethlehem Steel (§). 24 106% 105% 106 The production of fuel briquets in this 122% Bethlehem b g country in 1929 attained record propor- AT e AT R 8% Graham.Paige ot, lons, the total output being 1,212,415 ‘3% Booth Fishert 5 h o 51 Granby Copper (8) net tons, valued at $9,515,205, accord- 60% ‘BordeniCoNEa): oo d 324 Grand Stlver Stra (1) ing to reports furnished to the United 327 Borg Warner (4), au b e States Bureau of Mines, Department of 13% Briggs Mfg...c.0000 v 214 37 Grand Union pf (3).. Commerce, by the operators of briquet- 21% PRriggs&: 2 9 37 Granite City 8tl (4). ing plants. It was the first time in the Wi 4 1% Britisb £m, history of the industry that the produc- A% Brm-: umgsl:l.::l;.zl. tion of briquets exceeded 1,000,000 tons, 18 Brockway M T..,... The figures represent an increase of 68 Brockway pt (7). 28 per cent in tonnage and of 23.5 per 63 Bkiyn-Mannat (4)., cent in value over the preceding year. 84% Bklyn-Man Tr pf (§) W 91 % ‘They represent also a gain of 21.8 per 131 Bklyn Union Gas (b) 1656 168% cent in production and 11.5 per cent in 40 Brown Shoe Co (3).. 40 fed OUR Real Estate Loan Plan offers you terms that assist in placing the purchase of your home on a reason'ble bfl!i.- Balance.... 46 Gen'l Food Corpn @) 13% Gen Gas&El A (new) 104 GenG&EIpfA(T) Insurance Men Meet New Test. 39% Gen Ital Ed (a2.62 According to President Charles W. Gold of the American Life Convention, the recent stock market disturbance proved a more critical test of the insti- tution of life insurance than did the influenza epidemic of 1918 and 1919. The latter was the sort of hazard which life insurance companies have anticipated and prepared for, but the | demand for loans on policies due to | Applications invited for loans on property in the District of Columbia and nearby Maryland and Virgin: Gen Outd AdY A 87% Gen Print Ink pf 32% Gen Pub Sve (b6 864 Gen Ry Signal (5 174 Gen Realty & Ctil. 97% Gen Real & Ut pf(6, 67 Gen Refrac (14%). 39% Gen Theat Equip 81% Gillette Saf Ras( Low Interest Rates Reasonable Terms Over a Third of a Consult WEAVER BRO REALTORS Century Without a Loss 90 Goodyear 18t pf (7). 21% Gotham 8ilk H (3%) 7% Gould Couple! 9% Graham-Pal 16 47% 45% 809 15th St. N.W. District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company 90% Grt North pt Grt West Sug (2.30). 12% Grisby Grunow. . 38% Gulf Mo & North Gulf Mo & N of (8) THERE IS NO. SUBSTITUTE FOR SAFETY Capital & Surplus $3,500,000.00 Deposits invited in any amount. Open Until FINANCING 5:30 P.M. April 15th | AT LOW COST and 16th ! ° A Mounting First Mortgage Funds (Three Years or Longer) Savings Account | . —is your best assurance against want and privation, in your declining years. {[Lay away all you can spare Every Pay Day—it'll grow steadily, if deposited in a strong, old bank like this—always be avail- able in time of need—for any purpose. ¥ Same Rate of Interest paid on large and small accounts. value over the previous records estab- | 13% Bruns-Baik-Col. P P 24% 2 28 Hackensck Wof1%. lished in 1926. 26 14's Bruns Ter & Ry 22% 2 26 HackenpfA (1%). 31 22l Bucyrus Erte (1). 20m, 12% Hahn Dept Stores. .. Heard in Financial District. 334 Bucyruscv pt (3%). 6 it 71% Hahn Dept S pf(83%) George L. Harrison, governor of the 9% Budd (EG) Co...... 16 24 Hall(WF) Printg(2) Federal Reserv E 8% Budd Wheel (1) 13% 99 Hamilton W pf (6).. b Wumn:wm oL En S I0EN 20% Bullard Co (1.60).ee 15 6% &7 68" 85 Hanna pf (new) (7). ay. 26\ Bulova Watch (3)... 13 39% 374 38% B 100'% Hanna (M A) 1st (7) 40s 12" The insurance section of the District 99! Burns Brés A (8)... 2 106% 106% 106% 55 Harb&Walker(12%) 1130s 63% Bankers’ Association, T. Stanley Hol- fi: gurn- lfli;o‘:l... 5 26% 26% 16l 2 1:-4 :'!lrlm;ncd(};rvklll 2 16% 5 urr A ach (1)ee 5 48 47% 48 % Hayes s Ll 'l’::;’z;"h:%uw';fi:t‘:‘n;"m" t 36 Bush Termni(3%).. 2 42 42 42 23 Heroules Motor 1, et it B WAL I TioRE e it 100% Bush Term deb (7).. 10s 107 107 784 Hercules Powder (3) Do, willialsstas: Tife LaTanch Tt § ButteCopper&Zime. 2 3% 3w 3% 4 70 Hershey Choe (5)... The series is proving highly interestin; 164 Butterick Co. 2 28 274 28 2T% 83% Hershey Choc pf(+5) to the members of this secton. ¢ ¥0Y Byers A M) 10 104% 103 108% 104% 264 Holland Fur (et2%) Automobile financing in February on 109 Byers (A M) of (T).. 50s 111 111 111 111 19 Houdatlle Her B (3). 102,003 care was $82.616.578, ns agairet | 66% CALT PACKIDE (O)ees 2 2% 924 724 49 Hhold Finpt (13%). 372,062,419 on 163,317 cars ‘in Januar 1 Callahan Zino& L. 1 1y, 534 Heteeon Ofl - oo oese d $87,884.269 on’ 204,095 cars in Feb. 78% Calumet & Aris (6).. 7214 728 35% Howe Sound (1434).. Piary, 1020, el 0 26 Calumet&Heo(addp) 13 26% 261 264 o HudaMan Ry («'fi”' 19 Campbell Wyant (3 2 2 udson Mo e T 00 e poration fox 63 Canaca Dry G A (b). 25 on con o* 204 Hupp Motor Car (3). $3,735,220 in March, 1929, a decrease of i T 1 2100 2104 2104 204 [ndepend o1 & G () Cannon Mills (2.80) . = Lm % ,fig:gigm:;fl::{'fi ;%u- 18% Capital Adm (&) 3 2om oin giw 17% Indian Refining 8 in the same period in 1929, & de- 192l Case (J 1) (6).. 20 304 206 2991 2 « 16 Indian Refining ot. crease of $312,515 or 3.3 per cent. o4 Caterpillr Trao t3%. 20 77% 76% 1764 154% Ingersoll Rand (4) Charles B: Tyddane, vice president of 35l Celotex (3)......... 40 bI1% 481 Bl 70% Inland Steel (4) the PFederal- 5 28% Cont Agulrre AS1%. 3 20% 291, 29% 26% Inspiration (4 e eral-American National Bank, 2 s uvu A etdod o AR ' 106% Cent Alloy St pf(7). 20s 110 110 110 R. W. McNeel, Boston financier, says, sl L O R T T i “There is every reason to expect *hat A v the present stock market will continue MINCa Sy S s 604 e o e_1ee 36 Cbecker Cab (4300, 15 56% Bise b5" an al A le cheapness e of money rather than immediate condi- 203 Chea &Olie (10). § 220n 229 220w 2 tions of business will furnish a real clue 7% to the future.” ADDED FREIGHT OFFSETS RAILROAD AUTO LOSSES By the Associated Press. NEW YORK, April 14.—For what- ever amount of money the advent of lhe automobile has taken from the rofits of the railroads there is a good llled freight bill to offset it. J. S. Marvin, general traffic manager of the National Automobile Chamber of Commerce, points out that carload freight revenues from automotive com- panies totaled $542,170,000 in 1928. ‘This includes all freight develcpud by the automobile industry. COTTON" CONSUMPTION. By the Assoclated Press. 30% Cent Alloy Steel (3). mn. on "-idence .nd b‘l-i- ness properties in the District of Columbia and nearby Maryland suburbs . . . Ample fands, lower interest, prompt ap- provals, valuable prepayment privileges. Three-year loans on mewer properties without amortization 3% H. L. Rust Company ESTABLISHED 1880 1001 Fifteenth Street National 8100 Loan Correspondent for *‘The Pradential®’ has returned from a two-week vacation passed at Pinehurst, N. C, 20% Interboro Rap Tran. 44 Intl Agricultural 152% [ntl Bus Mach (aé).. 78% Intl Harvester ( 31% Int Hydro E1 A (e8 12% Chi Great Westera, . 65% Intl Match pf (4) 84 Chigreat Westo pf. ; i 25 Intl Mer Marin 22% Chi Mill St Py 2314 o 31% Int Nickel of Can o Chi Mill St FaPaepf 401 116 Intl Nick Can pf ( ¥4 Chicago& N W (6).. s 26 Intl Pap & P A( 1 & Pac pf 1.). 4 108 atl Pap oy 107 ChiR1& PacpfiT). 2 1081 1‘333 }33‘: 79% Int Pap & Pwr of (T) 25 ChickashaCOHl (3). 7 30 19w -9 46% [nt] Printing Ink (3) 57% Childs Co (3 40). . 3 624 62 621 25% [ntl RysCntAet... #8% Chrysler Corp (3)... 90 41% 41 41 61% lat Ry A p(5). 96 City lco& Fpf (6%) 10s 97 97 97 854 69 (ntSalt'(6) 1 T Clty Stores (600). o 18 0% sk 1ok 100 Int] Stlver (¥8)., R A e "G [nb ol & el 551085 CaBiL i), 108 104n 10 s i 30 Cluett Peabody (5).. ' 2 64 5::‘, 12;: 55 20 Inter DeptBtia). ... . I3 1a (8 10 180 118" 178 71 Inter Dpt St pfx w(7100s 2 50% 81 19 [nvestors Equity(3). 3 88% leland Creek Coal(d) 2 28% 28% 43 JowelTea (6).vsece: 3 85 8 7 Johns-Manvilie (). 25 36 Col Fuel & Iron (3)." & 2% 2% 118% Johns-Manv pf (7). . 200 8% Colo & Sou 1at pf (4) 1208 176" ‘71 118 lonen & Laugh ot () m- 80 Col Gas & K 13)., . 100 v 84k 5! fordan Motor Car. .. 104% Col Gas & Bl pf ma & C P&L 18t pt B(§) t and 63,976 of 24% Columb Graph (37¢) 220 11% Karstaat (R) (1.08). compared it 495,204 e It 168% Columblan Carb (1) 18 Kaufmann)D8 (1%) sna 8 80,033 of linters. in 2% Com Credit € o :o" i 3¢ Kayser Jultus (6). . February 69 of lint of uu 31% Co o o bt AR gr s % n m 1““ l 22 co-crunnm... 10s 26 (Continued on OFFICERS: WILLIAM D. HOOVER. WOODBURY BLA! FRANK STETSO! 2nd Vice Pres. and Trust Officer %:;fwa"fi” 50% 50% 61% 61% 60 Colga 3%) 14% Collins & Alkman. .. 78 Collins & Alk of (7). National Savings & Trust Co. 64th Oldest Savings Institution in the District of Columbia March was Buruu i Year Cor. 15th and Ntvi York Ave.