Evening Star Newspaper, April 16, 1930, Page 13

FINANCIAL. - CAPITAL TRACTION STOCK IS HIGHER Security Reaches 781-2 in Smalt Turnover on D. C. Exchange. BY EDWARD C. STONE. Capital Traction climbed to 78'% on the Washington Stock Exchange today, following the Jow mark made last week. | ‘Trading in the issue was very light, the market opening with 10 shares sell- ing at 77%. and closing with an- other 10 shares selling at 781.. The final quotation was 77% bid, with none offered for sale Potomac Electric Power 6 per cent preferred figured in several small sales at 1131, Peoples Drug Stores pre- ferréd came out at 1081, District Na- tional Securities preferred sold at 88 and 25 shares Rayiin of Chapin-Sacks 8 per cent preferred moved at 106. There was a sale of 54 shares of National! :@qflnge & Investment preferred at . Daniel L. Bonds were in fair demand. Traction 5s registered 953, Washington Gas 6s, series A, sold at 102, and a baby Gas B moved at 1043;. Potomac Electric Consolidated 5s changed hands at 102, and Barber & Ross 6'2s closed the bond trading at 90%% Attention was again called to the fact that the exchange will be closed on Priday and Saturday. | Dr. Borden en Storage Board. At the regular monthly meeting of the board of directors of the Federal Btorage Co., Monday, Dr. Daniel L, Bor- den was elected to the board. Dr. Borden is a professor of surgery at George Washington University, sur- geon to Emergency, George Washington and Children’s Hospitals. He is a lieu- tenant colonel in the Medical Reserve Corps, Pellow American College of Sur- geons. president of George Washington iversity Medical Society, and a mem- ber of Chevy clubs. Insurance Men Hold Conference. The general and local agents of the | Penn Mutual Life Insurance Co., of Philadelphia, opened a conference at the Racquet Club here today, beginning at 10 o'clock. A luncheon was served at noon. The gathering was made es- | pecially important by the attendance | of William A. Conway, one of the offi- clals of the company. All the members | of the staff of Wolf & Cohen, the local general agents, were present. Building Officers Elected. [ At a recent annual meeting of stock- | holders of the Citizens Equitable Build- ing Association of Georgetown, the fol- lowing officers and directors were re- | elected: Thomas J. Stanton, president; Isaac Birch, vice president: H. W. Burn side, secretary; H. L. Selby, treasurer; Mrs, Irene Arendes, assistant secretary Directors are J. M. Burns, P. F. Carr, J. Hadley Doyle, R. E. Layton, J. Leo Kolb, Isaac B. Nordlinger, George A. Scheele and Robert A. Mayfield. District National Opens Drive. The District National Bank has| opened a three months' drive to add | $1,000,000 in deposits. Twenty-seven | sales groups have been organized, in charge of the following managers Robert N. Harper, Joshua Evans, ir.: | C. J. Cockeler, Hilleary L. Offutt, jr.;| John F. Maury, E. G. Yonker, B. L. Colton, Charles W. Darr, Atwood M. Fisher, Charles C. Rogers, Horace G. Smithy, Leon S. Ulman, Charles J Brand, A. P. Crenshaw, J. Miller Ken- yon, Robert Lee O'Brien, H. L. Thorn- ton, William D. Murdock, William O.| Rabbitt, George D. See, Anna Varnon, G. W. Hauptman, Edward C. Halbach Walter Koens, Rita G. McGinnis, Ben- jamin Robinson and H. O. Sikorra. Progress of the drive will be pictured | on a board in the main office at 1406 G street northwest. The general com- mittee includes Col. Harper, Joshua Evans, jr.; Charles W. Darr, John F. Maury, E. J. Murphy, H. L. Offutt, jr.; Charles C. Rogers and E. G. Yonker. C. & O. to Offer Stock Rights. The- directors of the Chesapeake & Ohio Railway Co. have authorized the filing of a petition with the Interstate Commerce Commission asking authority to issue and offer to its stockholders at $100 per share, $38,000.000 par value of its common stock. This offering will give its common stockholders the right to subscribe for one new share for each four shares held. The offering is dependent upon ap- proval of the I. C. C. and will not be- come effective until after present shareholders of the Hocking Valle Railway Co. have had an opportunity of exchanging their shares for stock of Chesapeake & Ohio in accordance with | the recent order of the I. C. C. | Additions to Broker Staff. ‘The_personnel of the local office of Stein Bros. & Boyce has been increased by the addition of William H. Donohue, formerly with J. & W. Seligman & Co. of New York, who is now associated with the investment department, and Mrs. Benjamin B. Cain, jr. formerly with Harris & Vose, in the stock de- partment. Continuing the gain made in Feb- yuary, when a January decrease in the volume of new business was transformed into an increase for the first two | months, new life insurance purchas i Capital Chase and University in March advanced 4.5 per cent above the | figure for the same month a vear ago, according to report of the Association of Life Insurance Presidents. Gleaned in Financial District. The_directors of the Atlantic Coast Line Railroad have declared the usual extra dividend of $1.50 and the regular | semi-annual payment of $3.50 per share | on the common stock The first 10 trial installations of the | “Trafilator,” the traffic control system | designed by the Miller Train Control Corporation, have been approved at the expiration of the various trial periods and payment ordered by the various municipal authorities. Miller’s manu- facturing licensee, the Crouse-Hinds Co. of Syracuse, reports a wide increase in_inquiries The Great Atlantic and Pacific Tea| Co. reports sales eeding $1,000,000,- 000 for the fiscal year ended February 28, the first time that mark has been passed in its 72 years of existence. Net profits totaled $26,219.631, equal to $1178 & share on the outstanding 2,073,916 common shares after pre- | ferred dividends Eliot H. Thompson of the Washington Tosn & Trust Co. will address students of the Raymond Riordan School this evening on “The Salesmanship of Service.” Yesterday's re-election of officers of the Washington Gas Light Co. was gexsmz to the financial district. Robert . Weaver, George M. Whitwell, Rich- ard A. Ennis and their associates have rendered long service to the company. . POTATO MARKET. CHICAGO, April 16 (®) (United States Department of Agriculture).— Potatoes—Receipts, 91 cars; on track, 389 cars; total United States shipments, 667 cars. Old stock: Trading fair: market slightly weaker on Russets, steady on other stock; Wisconsin sacked round whites, 2.80a3.00; Minne- sota, sacked round whites, 2.70a2.80, Tdaho, sacked Russets, 3.6683.90, a few gancy a shade higher, New stock: Practically no trading; market dull; no quotations. THE EVENING STAR, WASHINC NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office Netice—All stocks are sold in one-hundred share lots [ —Prev. 1930.— Stoek and Sales— excepting those designated by the letter s (65s) (283s). [ Hieh Low. Bividend Rate. = Add 00 Mish which shows those stocks to be sold in odd lots only. o ‘g WW;*R Cubof(6) 7 61 Sales of Each Stock Compiled to 12:30 P.M. oy 1 et 3 R ~Prey 1930.~ Stock and Gales— 4% Contasner Corp oy ti Dividend Rate._ Add 00 High. Low 3:86 Close. | 5% 2 Abitibi Por Pap 3 401 39% 39% 404 3 364 86y 64% AbItIDIPAPDI(S). 2 B854 854 85% B6W 2 6% 61 45 AbrahamStrauss... 3 63 59 36 59 gg ::;: 37% 234 Adams Kxpr (1 13 34w 3o% 33% 34 | B . 52 23 AdamsMillis(8).... 13 82 81w 31% 3i%| 7% 59 Contlissur (2.40). 4 72% 231 11% Advance Rumley... 2 19% 19% 19% 19%( 84 6% Continental Motors.. & 7 414 22 Advance Rumleypf. 2 36 86 36 36 | 30% 19i Contl Oil of Del 23 28% 1% 4% Ahumada Lead..... 5H 1% 1 1 1 40% 27% Contl Shares (1 21 36 150% 118 Alr Reduction (3) 19 144 140 140 143 | 109 874 Corm Prod (13%).... 90 106% s i et 2 Yok 0% "2x| 147 140 Corm Prod pf (3)es..100s 143 s T 15 2% Tk & 8| 33 244 Coty.Ino(k3)...... 10 30% | 15% 8% Albany1W Paper 2 18 13 13 12| 38% 25% Creamof Wht(13y) 6 33 Allegheny Corp..... 42 32% 31% 31% 324 | 22 10k Crosiey Radio (1)... 2 19 Alleg Corppf (5%). 2 102% 102, 102 1028 | 50% 43 Crown Cork & Seal 6 63 Allez Cppf (535)xw 4 93 93 93 93| 03% 84 el (k5) 9 89 Alleg Cp pf ww(5%) 3 9815 9815 985 99 7 8% Cuba Cane Products. 2 4% Allled Ch & Dye(né) 15 33 2 3 2 2 1% Allis-Chaimers (3).. 31 6 18% Amerada Corp (1)... > o7 Am Bank Note (13). 708 57% AT BaR S aant. Cuban Dom Sugar... 1 14 AR R S Cudany Packing (4). 1 5% resiopb il eth Curtis Pub Co(18%). 2 120 Am Brake Shoe(2.40) Curtis Publis p£(1), . 1 117% AmBrS&F of (1).. Curtiss Wright Corp 47 13% A Brove Bov S Curt WrightCorpA. 4 18 Am Brown B E pf(T) Cutler-Hammr(3%). 9 87 Am Can (4)... Davison Chem. ..... 4 38% Am Can pt (1) Deere & Co pf (1)...110s 124 Am Car & Py (8) Delaware & Hud (9). 3 177% Am Car & F pf (7). Del Lack & W (17).. b 141% Am Chain Co (3). ... Detroft Edison (8) 8 243 Am Chicle Co (13%) Devos & R. A (2.40). 6 37% Am Com Aleotn1 §0) Diamond Match (8). 28008 209 30° Am Encaustie (2) Dome Mines (1)..... 1 8% 59 Am Buropean Seo Dominion Strs (130) 12 26% 1011 82% Am & For Power. ... Drug Corpn (4)..... & B84% 991 95 Am&Forn Pwr 2 pf. Duluth Superio: 1% 3 Am Hawalian 88 (3) Duluth Sup pf (4 4 Am Hide & Leather.. Dunhill Inter (34 39 Am Hide & Lea pf. .. Du Pont de N (14.70) 141% Am Home Prod(4.10) Dupontd Ndeb (6).. 1 118% Am Iee Co (14).....c Eastman Kodax (18) 176 246% Am international €3) Eaton Axle &8 (3).. 9 83u Am Locomotive (8). Elec Auto Lite (6).. 15 113 Am Loco pf (T)..... ™ Am Mach & Fay (7). 424 98N Am Metal «3). - 2z 110% Am Metal pf (§).... 2 764 Am Nat Gas of (7). 37 ws (b8 % stk) A 2 b4 s Endicott-Jobn () 1 63 n, Serv Am Pow & Lt pf (6). A D s e AL AmP&LDIA(3%)e 4 85 84% 85 84 Eng PubSetfs ($1).. 2 64% AmP&LprAst(5). 3 88% 88Y 88y 88% Erfe RR.ccovsvscem 2 BTW AmRa&StdSan1%. 25 37% 87w 37% 38 Erfe RR1StDf ()ow 6 644 Am Rolling Mill (3). 25 94% 9I% 92 94% Eureka CacCl (4)..e 3 36 AmSm& Ref (4).... 83 75 738 75 784 Fasrbanks Co pt. Pre 4 AmSm&Refvf (1). 2 139% 139% 139% 140% Folthanbaitorse 05, 3 46 Am SEURCO (S) . X A1 Al alk - 41N Foah Purk Asso, ... 3 1T% Am SolventsChem.. 20 18% 18 18 18 Ped Lt & Tre (31%). 2 80% AmSolChevpf(3). 8 29% 29% 29% 5% Ted Motor T (80 1 1% Am Steel Fay (3)... 2 46% 46% 46% 473 Fod Wat 8. A (03,000 18 41% Am Steel Fdy pf (7). 708 11216 112% 112% 113% ,‘d"_'“dm bomsecly s “‘ Am Stores (3). . 28 55% b52% b5% 52 710 Poo Fire 1(3.60). 3 84% Am Sugar Rfg 2 66k 66 66% 664 Fifth Bus (64c). 208 10 Am Tel & Tel (9. 140 271'% 260% 261% 269% ol - Am ;a:leeo ) ; 2 242% 242 242% 243 5 27% Am Tobaceo (B) (8). 4 245% 244 245% 245 £3 Am Tobacco pf (6).. 3 1231 123% 12314 123% :}'::'fi::.:—:“:u‘)’ 1; :!‘* Am Type Fary of (1) 10s 112 11215 1124 113% W IO s coee. B8 30 122w Liow s 1214 Fisk Rubber 18t pf.. 40s 18% 3 1% aosRomn0s. Fisk Rub 1st pf ev.. 1008 19% s Tk Follansbee Bros (3). 3 43 A ]:;‘ :nlto: vznué:r 3. b; gsu 1T 81 AmZinc LA&Sm... 2 13% 15% 13% 141 o Sk LS R ¢ 7% 56 Am Zinc pf (6)... P e E Fetal 2 o 51'; (8% Anaconda Copr (1). 450 734 7Tl% 7l 71% 584 40 Anaconda W&C (3).. 5 44k 44 444 44y g 2 Anchor Cap (2.40)... 6 Bla 49% 51 49y | 11 Qavrial Suun A 98 B OAs CODEARIR) . '35 B8 .83 as % 314 Gardner Motor...... B 6% 2 26 95% 96 5 | 16 12 Gen Amer Investors. 1 15% Armour Del pf (1).e 2 76% 76% 181 aow| 103% 90 GenAmInvof(6).. 2 103% Armour Tl (A)s.oews 9 6% 64 615 ou | 111 99% Gen Am Tnk Car(24) 25 108% Armour Il (B). ..o 2 3% 81 3% g | 11% 49% Gen Asphalt (6).... 28 68 Arnold Conatable. e 11 12 10w 11w 1lon| 38% 25'4<Gen Bronse (3) 4 30% Asso Appl Ind (4) 10 41 40 41 40%| 34% 26 GenCable. - 8 20% AssoDryG (3%)... 4 49% 48% 48% 50 | 61 Bl GenCigar (4). o o B BN Atch T&S Fe (10).. 8 2321, 231 232 232 | 118 112 Gen Cigarpf (T)....100s 118 Atch T&SF pf (5)... 3 10514 105% 105% 105 95% 604 Gen Electric (1 . 4¥0 93 AtiCoastLine(t30). 1173 178 178 171 | 11% 11% GeaEleesnes (60a). 2 11% AUGAE W indles. ... 2 86w 69w 6ow s | 5% 46% Genl Food Corpn (3) 14 52% AUGUIf& WIDF(E) 2 62% 62% 621 62y | (18% 13U GenGasAElAmew) 749 184 Atl Refining (+3). 61 8% 48K 48l dov | 108% 104 Gen GassBievof(s) 22 1064 Atlas Stores (1) 4 35 3413 35 84s| 4% 39% Genltal Fd (a262).. 3 39% Aubufn Auto (34),.. 40 262% 267 267 266 | Ui 46 Gsners! Mills(d).... 19 $34 Austin Nichols. 2 Cim P i %] 544 371 Gen Motors (13.30).. 324 62% 24" Austin Nicholapf... 1 35~ 35 3~ 357 | 125% 11744 Gen Matorspf (T)... 4 123% 60 56 AustrianCred (4.49) 2 564 56% 564 5w | 21% 15 GenOut Adv (1) 2 1% T0%: 43k R en L 20 8n Ceh ew Cgn| 41% 35 GenOutdAdvaA ). 8 38 53% 57 Auto-StSafRA (). 2 562 52 b2 53 52% 32% Gen Pub Sve (b 4 604 9% 4% AviationCorp Del... 107 9% 8% 8% 9% “;:’: ’2: e 1: b 38 20\ Baldwin,Loeo (1.76). 4 33% 331 331 33V il | A 116 111 dwin Looo of (1), 208 114% 114w 1144 114" R R A A e B 122% 115 timore & Oblo (1) 14 118% 117% 1184 119 | 81w 39% Gen Theat Equip vis 23 48is Rdls 63 Bang & Aroos (3%).. 2 78% 78 8% 179 i o o 0% 5615 ‘BRrker Bren(B).voos 106, 101 18 181 14| N 51 GlllentsSacRastns). 34 S 34 20'% Barnsdall. A (3) 26 V210 80 “30W Si%| L0 LK DIEES Srehers 20% 13 BeacodOll...,..... 7 19% 194 19% 19%| 40 L O 105 101% B'trice Cream pf (1). 2 105% 1054 1054 105 . %54 %0 Belg NRyDtpre.4d. 2 54t 4w 8w B4 57% 827 Bendix Aviation (3). 19 53% 52 b62% 62% 21 50 48 a9 49 | 100 byt : e % oodrich B F (4). 130" 1224 Betnlehem Stpf (D, 2 130 1201 130 190" e 1 3814 0 GRS AOTORN). 3 6 SN S k] B S e B 2 0% Borden Co (k3) 14 G Bl G| el s 504§ Bare Warae ¢ 11 @ Gtk ime G| 22 70 GotmamBHpf ). 0 764 21% 13% Briggs Mfg. SR EAUG 0 N30 R1K] o LA SEE Ot TKEEIAN. 28 RS 5% 214 Rriggs&Stration (3) 2 33 33 33 83 | Lout ¥ 4 TRBeBareen % 3% 3% 2w 3 | aen W SWEISERER ... B0 40% 23y BritBmpStllstpf.. 50s 41 41 41 404] g3 324 GrandSilverStrs (i) € 46% 20% 13% Grand Union.. o 3 30 43% 87 Grand Unfonpf (3).. 6 43 Brooklyn & Queens. . ty Stl (4 6 464 Bkiyn Union Gas (6) T)(1).... 4 36% ey oy ol Grt Northpfet (5).. 3 91% Bruns Ter & Ry OP (a3%) 2 21% BReyTunING (1) : Grt West Sug (2.30). 2 31 Bucyrus ev pf (3 23% 12% Grisby Grunow..,.., 251 28% % Boeyran s (1) 46% 38% Gulf Mo & North.... 8 40% 98% 94 GulfMo&Npf(8).. 1 98 80 51% Gulf Sta Steel (4)... 6 7I% 6 434 Burr Add Mach (1)e. 22 47% 46% d46% 48 36 Bush Termni (3%).. 2 42 41 4l% 42 1094 Bush T Bldg pf ()., B0s 118 115 115 115 8 utte Copper & Zine. 2 B 3 ¥ 3% Butte & Superier, 2 % 3 . 13“' I:“ 164 Butterick Co ‘ He 804 Byers (A M) Houdaflle Her B (3). 66% Calif Packing (4 55% 49 H'hold Fin pf (t3%). 1 Callahan Zino & L. 524 Houston Ofl......... 29 Calumet & Aris (8, Howe Sound (t4%).. 12 Hud&Man Ry (3.60). 6 D - Hudson Manh pf(6). 7 Canada Dry G A (6). Hudson Motor (6)... 36 Canadian Pag (10).. Hupp Motor Car (3). 133 Cannon Mills (2.80)., Tllinots Central (T).. & Capital Adm (A). Independ O11 & G ($) 10 Case (J 1) (8) 7 Ind Motor Cvel o iR Caterpillr Trac 13% . Indian Refining..... 103 Celotex (3)......... Indfan Refining ot... 48 Cent Aguirre As 1%. Indus Ray(b5%stk), 1 Cent Alloy Steel (3). Ingersoll Rand (4).. 9 Cent Alloy ctfs (3).. Inland Steel (4). 3 Cent Alloy St pf(7) Inspiration (4). 1 Century Rib Mills. ., Insurance Shars 4o, 2 Cerro de Pasco (8).. Interboro Rap Trem. 7 Certain-teed Prod Intercontinental Rub 1 Checker Cab (4.0 Intl Agricultural. 9 C & Ohle (10). 8 Chesapeake Corp 1 Chi & Alton 7 3 Chi & AltoL. pf 2 2 Chi&Eastllipf,ueey 2 46 45 45 47% 2 Chi Great Western, 2 16 14% 14% 15%; " Inter Comb Eng 1 Chi Great W of, b 46 431 4414 4oy | 116% 78% Intl Harvester (33 37 Chi Mill 8t P&Pac... 31 224 22y 220, 223 | 144% 140% Intl Harvpf (7)..... 1 Chi Mill St P&P; 18 40 391, 39% 395 | 54 311 Int Hydro BIA (e3). 42 Chicago& N W (6).. 2 B4% B4% 54w B85w| 56 65% Intl Mateh pf (4).... 35 22% Chi PoeuTool...... 1¥ 34l 334 331 83y | 30% 25 Intl Mer Marine (1).. 18 51 ChiPneuTpf (3%). 6 544 54l 54w b5 | 44% 31% Tnt Nickel of Can (1) 186 100% Chi R 1& Pacpf (6). 2 108% 103% 103% 103 31% 26 IntlPap& P A(2.40). 10 26% Chi Yellow Cab(3).,100s 30 30 30 291 22% 15% Intl Pap& Pwr B... 2 57% Childs Co (3.40).. 2 62% 62% 624 62%| 1B 12% Intl Pap & Pwr C, 2 33% Chrysler Corp (3). g Int Pap & Pwrpf (1) 1 City ice & F (k3.60) -Int Salt (6)........, 3108 City Stores (50a) Intl Silver (48)..... 3 Cify Stores A (3% Int Tel & Teleg (3).. 180 Clark Kquipment «. Tnter Dept St (3). 27 Cluett Peabody ( Investors Equity(3). 2 Coca-Cola (6) A4 Island Creek Coal(4) 5 oca-Cola A (3)..... Jewel Tea (4 . Colgate-Pal-P (234) Jehns-Manville (3).. 40 Colling & Aikman. .. Johns-Manv p: 4™ Collins & Alk pt (7). Jones & Laugh of(7) 80s Coi Fuel & Iron (3) Jordan Motor Car... 7 beados eI Kan City Soupf (4)., 2 e dAmd ¥ Karstadt (R) (1.02). 1 Columblan Carb (16) i S Ak o Com Credit (2). Kayser Jullus (4) 5 Gom Cred of B (4 Eop L Bucing tre : Com Crd 1st pf (63%) i Coml Inv Tr 1g1 80), 18 Comm Inv cv pf(e6) . s Comm Soivents (11). s Zomwlth&Sou(60e) . 2 Comm & Sou pf (8)., e Congoleum-Nairn. . O onsol Clgar (7) ... o i X Krenes(A9)Cocl 60) 10 Con Cgr pr pf x wé i - + Consol ¥ilm (3) ... 24 Consol Plim ot Lage Oll & Trane. 17 Low. 61 (Continued on Page 14) - - % \ | \TON, D. C., WEDNESDAY, APRIL 16, 1930. STOCKS IN UPTURN AFTER DEPRESSION ot [Market Surges Forward in 5% . e | Afternoon as Selling Pres- 33% Yo sure Is Lifted. ) 2‘- s BY STANLEY W. PRENOSIL, 148 Assaciated Press Financial Editor. 2% NEW YORK, April 16—After suc- 18w, |cessfully passing through _another 54 storm of selling, in which sharp re- 84, | cessions took place in some of the mo- i\ | tors, accessories and rails, the stoek 1\ market turned sharply upward again 16 | today in response to a brisk demand for 7 \the public utilities, steels, farm imple- 58 |\ments and high-priced industrial spe- 1% | tialties. .Early losses of 1 to nearly 6 45 | 9oints were substantidlly reduced or 119% | ¢\ nverted into gains, and a long It of 117% | i\ ues were marked up 1 to 10 points 13% | aL\ove yesterdey's final quotations by 18 ly afternoon. 85 \overal constructive business and 5g | trasj e developments helped to stimulate 123 |bull\ ih enthusiasm. Weekly steel trade 1771 | reviey vs reported a slight increase in op- Li21s | eratics s, foreign sales of copper were 33e% | reports d to be at the highest level since 36 | last Se Dtember as a resuit of yesterday’s 196 | drastic’ price_cut and the American 8% | Telepha ne & Telegraph Co. announced 26 |its long expected offering of stock sub- 841 | seription “rights.” 1| New ¥\ rk savings bariks reported that 4| deposits ¢ n_April 1 were the largest on 29 {record. A, W.Milburn, president of the 140% | Borden Ca -, told stockholders that vol- 119% | ume of bua iness and profit for the first 288 |quarter wea e better than for the same 33 | period of 14 29, with April showing im- 1101 | Provement o\ 'er March. n|" Weakness 1 Of the rails reflected the 96 | poor traffic sy 1d_earnings statements so 110% | far this year. ~Southern Railway drop- 764 | ped 512 points to a new low at 114 and % | St. Louis South Western, Lackawanna & B1: | Reading fell 3 p oints or more, with sev- 53 | eral others down & point or two. Check- 61 |er Cab and Good ‘ich Rubber each drap- 106 ped 4 points and Hupp, Goodyear and 65 | Spicer sagged 2 & > 3)2 points. 574 . Sasbls i — PARIS BOU) RSE PRICES. 18 | PARIS, April 18 (P).—Prices were “® lar on the Ba urse today. Three 17% | per cent rentes, 89 f “ancs 30 centimes. 824, | Five per cent loan, A )3 francs 90 cen- 11% | times. 40| Exchange on Londm 7, 124 francs 4 37 |centimes. The dollar w as quoted at 25 85 | francs 50, centimes. 10 —_— 33 7| STOCK RIGHTS 0\ FFERED. 83 o NEW YORK, April 16 () —Stock- 56 | holders of the Internatiow @l Arbitraj 1o | Corp. have been offered r{ 7hts to sub- 18% | seribe to additional stock s\ Per, $60 & 187 | share, in the ratio of one ncy ¥ share for 43, | ench four held. On May .14 stock: 90% | holders will vote on a propors \l o split % } the stock on a 10-for-1 basis. 434 | R 51| England’s new law which p Tohibits 10 |the carrying of children under 15 in § | canal boats will become effective Janu- 164, | a7y 1, 1932, 103w | Rug——_—————— o7 | 29% | 21 561 118 981 11% 514 17% 308 | 584 | 52% 12314 17% 41 5014 19% » 83 8% 90 8 0% 41 30 208 21% 201 16% 17 81k 81y 84 1 109 1104 2% T4 32 39w 24% 244 39% 394 bT% 57 129 120% 122 128 % 69 12% 19% 86 5% 35 374 24% 52% b6y 35 6% 4 105 BR% 114 114 86% 33 % 0 4% 25 l . DIVIDENDS DECLARED NEW YORK, April 16 (#).— Regular. c Rate. figd. A0 ompany. riod. able. Allied Kid pf...$162% Q May 1 The . May 1 May 1 May 15 Apr. 30 15 Q 1 1 1 June 3 Q 3 May 10 50 3 16 May 31 1 1 Apr. 18 Q 1 Apr. 12 c @ 1 Awr 13 Q 1 Apr 18 Q May 1 Apr. 24 s 1 June 14 1 June 14 1 June 14| 72% 1 June 14 YSSardipiiiis g May 18 ey 37 ‘Wiys-Overiand pf..$1.75 1 June 18| Omitted. Pst Hd & Tr 1% pf.17%c Q Due Feb. 15 Public Mtg & Sec (Newark) L 17%e Q Due Apr. 1 Waco _Aireraft e Q Due May 1 Wiys-Overland L30e Q Due May 1/ Deferred. | Girace Securities pf..$1.75 U Due Apr. 1| GROUP BANKING PLAN URGED AT HEARING Minnesota Financier Tells Com- mittee 01d Rural Methods Have Passed. By the Associated Press. Asserting that the “good old days” in rural banking that prevailed up to 1920 have definitely ended, Lyman E. Wake- fleld, vice president of the Frst Bank Stock Corporation of Minneapolis, today described to the House banking com- mittee the initiation of a group banking system to reorganize the rural banking structure of the Northwest, ‘The Minnesotan appeared as the sec- ond witness in the group banking phase of the committee’s financial investiga- tion, and supported the opinion ad- vanced yesterday by E. W. Decker, head of the Northwest Bank Corporation, an- other Minneapolis group organization, that the group system was more prac~ tical than branch or unit banking. “By the creation of & group a wider diversification of risk and resources is accomplished than is possible in a unit,” Wakefield testified, adding that small branch systems with members of the group as the parent organizations might prove advantageous in supplying bank facilities in towns too small to sustain a unit bank. The plan of his organization, he ex- plained, “provides for the retention in the local community of the strongest possible control over the affairs of the unit. Management remains in the hands of the resident officers and local directors, the eentral office exercising its supervision through periodical reports of condition, regular examinations and the adoption of proven standards.” SILVER QUOTATIONS. NEW YORK, April 16 (#).—Bar silver, 42%. Buildings being erected in Argentina are according to the most modern de- and Chile. signs RGENTINE saviligs deposits exceed one billion dollars—an "\ increase of 100% .in the past eight years. The national wealth of the Republic is estimaied at $13,800,000,000. Because of her large natural resources the potei1tial wealth is incalculable. Foremost among the pernnanent factors which are contributing to Argentina’s growth and prosperity, is the steadily increasing indus- trial and domestic use of Rlectricity—a phase of South America's progress which has already attracted more than $300,000,000 in Amer- ican capital. Plants of Intercontinents POw‘er Company, commercial activity, serve 102' cities and towns in Argentina, Brazil An investment in Company is an investment in thi steadily mounting prosperity of the chief South American republics. '\ FINANCIAL. SAFE—SECURE S First Mortgage Notes in convenient denominations $100 and up Secured on conservatively appraised residen- tial properties (homes) in northwest section of Washington. The notes are not subject to fluctuation and risk of loss is eliminated. PHONE OR WRITE US—We will be glad to show the properties om which these notes are secured. McKeever and Goss MISKSLNW. " National 4750 Members Mortgage Bankers Association of America Refinancing at 49 offers the advantages of a longer loan term, and a lower interest rate . . May we prove to you, in detail, the sub- stantial savings possible through five and one- half per cent financing. Loen Correspondent for Prompt approvels — Valuable prepayment privileges — Three-gear loans on newer properties withoat emortisation H. L. Rust Company 1001 Fifteenth Street National 8100 ESTABLISHED 1889 —a Billion Savings Accounts factor in the Buying Power of a Thrifty People. located at points of great tiie securities of Intercontinents Power INTERCONTINENTS PO‘\YER COMPANY We shall be pleased to furnish complete informtien upon request Stroud, Kurtz & Co., Inc. ; } \ = = ~ N. H. Rollins & Sons