Evening Star Newspaper, April 29, 1930, Page 13

F INANCIAL. THE EVENING STAR, WASHINGTON, D. C, TUESDAY, APRIL 29, 1930. CARPEL COMPANY SALES SHOW GAIN Increase of 19.8 Per Cent| Over 1929 First Quarter Shown in Report. BY EDWARD C. STONE. The Carpel Corporation, holding company for the Carpel Co. Inc., of ‘Washington; H. L. Carpel of Richmond, Inc.; H. L. Carpel of Baltimore, Inc.; the Food Products Co., Inc., of Pitts- burgh; H. L. Carpel of Roanoke, Inc., and the Food Products Co., Inc., of Nor- folk, food distributors, reports gross sales for the quarter ended March 31, 1930, in the amount of $447,023.37—an increase of 198-10 per cent over the corresponding period in 1929. John P. Brawner, vice president and general manager, Waggaman, Brawner & Co, Inc, investment bankers, wWas recently elected to the board of di- Tectors of the Carpel Corporation. The common stock of the corporation s listed on the Washington Stock Ex- change and has recently been very active, due somewhat to rumors of fur- ther expansion and consolidation. Reports on National Mortgage. James P. Schick, president of the Na- tional Mortgage & Investment Corpora- tion, has sent a report to the stock- holders, as of December 31, 1920. In & face to the financial statement Mr. hick states that the outlook for the company is better now than it has been in a long time. He says that the officers feel much encouraged and look for & steady improvement in the company’ affairs as time goes on. ‘The Washington Rapid Transit Co. has filed its March report with the Pub- | lic Utilities Commisison, showing total net revenues for the month of $49,941 in the District against $54,941.85 in the same month a year ago. Revenues for the first three months of 1930 amounted to $141,315 in comparison with $142,227 in the first quarter of 1929. Net income for the first quarter, after all deduc- tions, was $5,162, compared with $13,289 B year ago. Retalns Southern Identity. The 10 partners of Fenner & Beane, all Southern men, have unanimously decided that the firm must continue as a Southern business enterprise, and for that reason the administration offices in New Orleans, where the firm had its origin, will not be consolidated with the New York administrative offices. Having selected the Southern States as its fleld of actlvity and realizing that the South had not developed as rapidly as the North and East, Fenner & Beane created some extensive ma- chinery through which to render ef- fective help to the Southern States and ecities in their economic and civic de- wvelopment. Facts developed by economic surveys are proving of much value in attract< ing favorable attention to the South among bankers, manufacturers, in- wvestors and business men generally. Insurance Leader Visits City. Frederick H. Rhodes of Pittsfield, Mass,, president of the Berkshire Life Insurance Co., is visiting the Washing- ton office for a few days. Mr. Rhodes has made a brilliant record in the in- surance world. having started 35 years ago as an office boy. He worked up rapidly to be a general agent and then agency manager in New York city. Five years ago he was elected president of the company. Since he took the helm the company has increased its outstanding insurance by about 25 per cent. Mr. Rhodes is 49 years of age. Bond Club Plans for Outing. ‘Tne board of governors of the Wash- ngton Bond Club met yesterday after- noon and formulated plans for the club's annual outing. Friday, the 13th of June, is considered as the luckiest date possible for an event of this kind. It is expected that the outing will take place at the Burning Tree Club, as usual, and the dinner will follow an afternoon of golf. Another mock stock exchange session is on the pr and costly prizes are to be awarded.for all the special events. March Business in April. The unfavorable comparisons be- tween last month and March, 1929, shown in' the records of department store, chain store and wholesale sales, as compiled by the Federal Reserve Bank, are partly to be explained by the lateness of Easter this year. Easter came in March last year and that month's sales consequently were swol- len by the usual Easter buying. As a result of the lateness of Easter this ar, March trade received no impetus m the holiday. Instead, as re- marked by the New York Times, the busines done in March of last year is being done this year in April. Trading on Local Exchange. Bonds drew the most attention on the Washington Stock Exchange today. Gas 6s, series B, moved at 1054, $1,000 Bar- ber & Ross 6145 came out at 91, $1,000 ‘Washington Railway & Electric 4s sold at 87% and $6,000 Anacostia & Poto- mac Rallroad guaranteed 5s registered 95. 1In the stock division Potomac Electric Power 51, per cent preferred sold at 10814, while the 6 per cent issue moved at 1121,. One hundred shares of Carpel Corporation changed hands at 26'; and 10 shares of Federal-American Co. pre- ferred came out on the board at 100. Heard in Financlal District. Several local brokerage houses have turned their clocks ahead one hour in order to be on the daylight saving time schedule. ‘The annual statement of the Lanston Monotype Co., due to be presgnted at the annual meeting here this week, is expected to reveal an unusually good year. Lanston stock has been extra strong on the local exchange recently. The Washington Loan & Trust Co. is now publishing a daily stock market report which gives the previous close and the opening quotations on active stocks on the New York Exchange. ‘The Federal Reserve Board's condi- tion statement of weekly reporting member banks in leading cities on April 23 shows incresses for the week of $17°900,000 in loans and investments " ,72,000,000 in net demand deposits, decreases of $34,000,000 in time ax deposits, $33,000,000 in Government de-~ sits _and $7,000,000 in borrowings m Federal Reserve banks. ‘The Interstate Commerce Commission has authorized Wabash Railway Co. to issue $15.000,000 of 5 per cent refund- ing and general mortgage gold bonds. ‘The bonds will be sold at not less than 98 per cent of par and accrued inter- est and the proceeds used to retire cer- tain notes, also to reimburse road's treasury for capital expenditures and provide for future capital expenditures. Group banking was one of the first topics to be discussed at the Reserve City Bankers' convention, which opened yes erday at Memphis. MEXICO SEEKS U. S. HELP IN FIGHTING CROP PESTS By the Associated Press. SAN BENITO, Tex., April 29.—Co- operation of Texas and United States agricultural authorities is being sought I.;Y Mexico in fighting fruit and vegeta- le_pests. ‘The desire to unite forces in an at- tempt to eradicate insects and other crop ts was ex&rwed by Mexican offic! at & meeting with Texas and Federal authorities recently. Information concerning methods of reducing crop losses also was asked by the Mexican delegation. Soybean Growers Meet.« URBANA, IlL, April 20 (#).—The American Soybean Association will hold its eleventh annual meeting at Illinois State College here September 10 to 12. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. NOTICE—The New York Exchange is mow operating | —Prev. 1030~ Stock and Sales— on daylight saving time. > Righ. Low. Dividend Rate. Add 00. High. Notice—All stocks Are sold In one hundred-share lota| 35, 16 SommCdistpt(%). 30s 93 ex Shose designated by the letter o (S30) (385)| 55" 361 Comm Toy Tecg1.60) 24 46 which shows th-e.mn?cz‘h s lots only. 87 52 ComlinvTavpf(es) 2 834 igh. Low. Dividen Add 00. Bigh. Low. Olose. Close, 37% 234 Adams Bxp (1 98 '32% 81k 31% 82 92 8 9 891 90 92 32 3 30% 301 30% 30% 23% 13 17% 1% 16% 18 il 230 30 30 3% | a0 67 Consol Cgrprprét. 108 76 150% 118 = Air Reduction ( 86 139% 138% 130% 1asy, | 1 18 Consol Bilm (2). 20 36 21 Air WayTIAp(a%). 2 29% 29% 20% 30 | 34 18 ConsolWilmpf (¥ 213 1% Afax Rubber... ¢ 3 1% % B LR e o 94 7 Al IO, S R o 5 D 151 8% Albany Wrap Paper. 1 104 10 10% 1i%| 62 49 Con RRCubpt ¢ 35w 23 Allegheny Corp..... 265 80% 28k 20 29%| oo, .o ConeolWextlle.. o 99 981 Alleg Cpf440w(sis) 6 98% 98w 98w 98w | g 12 Somminerch) (130). 1074 951 Alleg Cpf $30w(B35) 11 102% 100 100% 102 o % - 72 61% Alleghany Stl($2.05) 3 63 6113 63 65 ,,V- 7% Contl Baking (A) 343 255% Allled Ch & Dye(n6). 18 321 315 321 321 SR g"fl" Baking (B) 68 49% Allls-Chalmers (3).. 60 624 61 62 62u| 4% T84 Contl Baking pf (3) 42 28% Alpha PortCemt (3). 4 32 31 82 3| 773 504 ContlCan«3%) 20% 18 AmeradaCorp (2)... 16 2% 27 21% 27 $7% 28 Contl Dia Wib 10 6% AmAgriculChem... 2 7% 7% % | 0% 63 CondInsur 39 26 AmAgriculChpf... 2 30% 30% 304 31 | (8% OW GontiMotors, 96% 77 Am Bank Note (t3).. 3 90 89 89u 90%| Lo ool c:n:xa 1 of Del 12 7 Am Beet Sugar. 1 ms cek ek el ahe SR CSELSReRew (R) . 86% 384 Am Bosch Magneio.. 11 38% 36 38% 39%| ji1% 371 CoraBrod (13%).... 88 104% B4% 46% Am BrakeShoe(2.40) 2 4o% 46w 46t dox | 137 150 Corn Brod pf(7).... 10 144 128 118% Am BrSh & Fpf (7). 208 122% 122% 122% 122% oty. Inc (k2)... 61 20% 21% 8% Am Brown Bov Elec. 65 194 184 i 80 60's Am Brown BEDf(7) 80s 744 784 6 18 15615 117% Am Can (4).. . BB 1463 1424 s 1% 1455 140% Am Can pf (1) J U345 144w 8 49 8215 54 Am Car& Fdy (8)... 12 54 58 BE(T) 308 118% 16 105 AmCar& Fdy prci). 2 106% 1084 ) 6974 Am Chain Co 13).... 4 3 101 75% Am Chatn pf (1) 1100 100 ey st 100 R0 51l 36% Am Chicle (123).... 13 4B% 44% 33 191 AmCom Aleo(n180) 33 19% 19 . I Ten) e 30% 23% Am Encaustic (2)... 4 261 261 26% 26% o et 9 591% 35 Am European Secur.. 7 54 58 506|150 age CoteWMLE D, e T 101% 826 Am & Forn Power... 452 91% 89% 91 90 | 9018 64" Gutler-H: S 99 95 AmaForn Pwridpf. 5 984 98w 98w 98 | b 3L DaUerHammer(d%) 1 11 107 Am&ForPwrpf(1). 2 1114 110% 111 111 [ &8% 28% Davison Chemical Sl 33% 19% AmHawallan8S(2)' 12 264 25 25 26w | J51 ]34 Deiawareld Hud < 3 176 R T T e R 69% 56% Am Home Prod(4.30) 2 ity et ol 417 351 Am lce Co (14). 2 olt Edison (5).. 18 247 56% 35% Am Internatl (3).... 80 D).~ 18 40 R e e e i, Diamond Match 8). 9 217 105 7014 Am Locomotive (8). 16 P elie sl i) 12 8% 1181 104 Am Locomotpf (). 1 105 104} 105 104% [ gow 72 Dom Siores (th 8 26% 279% 210 Am Mach & Fay (7). 1275 275 275 270 t Wmem T h s 51% 41 Am Metal (3). V20 G o el O, oI DU SRS an. 1 % 116 110 Am Metal pf (8) 20112 112 112 112 T s (O Hd o 145% 1124 Du Pontde N (14.70) 112 1323 95 65 AmNatGaspt(1)..110s 91% 904 90w 92 | jon 118 2% 15 AmPlano...... U T R T % DupoutdeNdb pe(6) 1 1194 119% 77 AmPwr&Lt($1)... 82 111 107% 110 110%| ,38% 18 Eastn Roll Mill(h12) 3 19% 85% 80 AmPA&LtpfAst(S). 2 87% 87K 87 87 | 285K 176% Eastman Kodak (18) 35 248% 107 100 AmPwr&Ltpf(S). 2 1081 108% 108% 108y | 37% 274 Eaton Axle &8 31 20% 39% 80% AmRa&StdSan1%. 228 34% 38% 34y 3¢ | 114% 81 ElesAuto L 148 97% 87 2015 Am Republics. . 12 30 28% 20% 4% Klectrie Boat, 4 6% 100% 8014 Am Rolling Mili (3). 65 B4% B81% B83% 88w 108% 49U ElPwr& Lt ( 890 04l 67% 59 * Am Safety Rasor(5). 32 66X 66% 66w 66 [ 112 1004 BIPwr&Ltprdl).. 3 111k 214 1% AmShip&Com..... 8 2 1% 1% 2 st (W, 3 TAY 9% 60% AmSm & Ref (4).... 74 70N 681 69% 71n| 0% 3% EmersonBrant(A).. 1 4y 141 1381 AmSm & Refpf (1).. 1 1404 140% 140% 140% | 20% 17} Emp Capwell (2). 43% 41'3 Am Snuff (13%) 8 41% 414 4% 41%]| 113 107% Endicott-John pf 1 2215 16 Am8Solva&Chem.... 18 16% 14 16w 16%| 66 39% Eng Pub Serv (11) 3 6l 3 2% AmSoldChevpf@). 3 24 M4 204 20 % 3 s 1 4415 Am Steel Fdy (3),.. 5% 45 4B 4Bk “ 116 110% Am Steel Fdy pf (7). 20s 118% 118% 118% 1133 | &7~ 39% Equitadble Bldg (3%) 2 47 553 46} Am Stores (3)...... 2 bl 50% 50% B5l% RR. 53 69% 60% Am Sugar Ref (5)... 18 64 62k 62k 64k 3 26% 1415 Am SumatraTob.... 8 144 14% 14% 14% 3 27% 23 AmTel &Cable (5).. 108 25 26 25 25 3 274% 216 Am Tel & Teleg (3).. 262 249% 246 248X 247w 2447 197 Am Tobacco (8)..... 8 240 235 240 208 24815 197 Am Tobacco B (8)... 77 244 2364 244 285% 3 141% 125 AmTypeFdry (8).. 4 134" 184 13¢ 136 | 27% 16 FashParkAsso..... 2 164 114% 106 Am Type Fdy pf (7). 10s 118 118 118 112 | 0% 59% Fed Lt Tre (31%). 10 78% 124% 881 Am Water Wks (n1). 106 117% 118% 116 116% | 98% 81 Fed Lt& Tracpf (6) 50s 97 1061 9915 Am Wat W 1stpf(6) 1 104% 104% 104% 105 | 124 7% Fed MotorTr(80c).. 1 10% 714 Am Woolen......... 2 13% 13% 13% 14 43 321 Fed Wat 8, A (e 9 39% 19% Am Woolenpf...... 25 37% 36% 35% 36u| 38 = 11 34% 5 Am Writ Paperctts. 1 74 74 T4 8 89% 9 80 8% AmZincLd&Sm.... 1 11% 11% 11% 12 | 10% 7 Fifth AveBus (64c). 30s 8% 62 Anaconda Cop (T)... 200 624 59% 604 623 | 33% 24% Firestone T&R(1.60) 2 25 85 AnchorCap (2.40)... 23 48% 46% 481 48% 8 28% Andes Copper (3)... 12 28% 264 26% 20 2215 Archer-Dan-M (2) 4 20% 28% 24% 284 74% Armourof Delpf(7). 1 76 76 76 161 5% Armourof Il (A).... 183 6% 6% 6% 6% 2% Armourof I (B).... 14 3% 3K 34k 3% 5714 Armourof Illpf (7). 1 bB8% B8% 58% 59 6% Arnold Constable.... 14 10% 104 10% 11 4% Art Metal Constr(2). 1 27 27 27 27% Fox Film (§4) 364 Asso Appl Ind (4)... 16 37% 3614 374 37| 55% 3844 Fréeport. Tex 28 AssoDry G (2%)... 18 44% 48% ! 501 324 Asso Oil (2). 10s 48 48 242 219% Atch To& 8 Fe (10). 40 221% 318% 106' 102% Atch To & SF pf (§). 3 106 105% 80% 63 AtlGulf & W Indies. 5 64% 63% Am Investors... 51% 364 AtlRefining (12).... 105 44% 43% Am Tnk Car($4) 103 108 106 811 Atlas Powder (4).... 1 86 86 Asphait (4) 45 63 106 101 Atlas Powder pf (6). 30s 106 106 Bronsze (2). 41 34% 86 81% Atlas Stores (1) 5 844 34 Cabl, cesced ; 3 20N 263% 176% Auburn Auto (j4). 48 232% 220 4)... 12 62% 64 3% Austin Nichols. 2 4 % Clgar (4).. 1 66% 10% 4% Autosal 2 6N 6% Electrie (1. T4 8T 25 15 Autosales pf. s Eel 16 Elecspec (§0c).. 8 11% 58% 87 Auto-StropSaf R(3) 28 B8 55% Food Corp (3).. 60 9% 4% AviationCorpotDel 60 9 8% 8% 13X GenGas&K (A)new. 296 18% 38 27 BaldwinLoco (1%). 40 28% 2Tk 27% 28% % 97% GenG&Elevpf(f).. 6 97 116 111 Baldwin Locopf (7). 70s 113 112% 113 113%| 44% 39} GenItal Eds (a2.62). 3 41 1223 113% Balto & Ohfo (T).... 51 114% 1121 4 82% 784 Balto& Ohfopf (4).. 2 Bl 81k 110% 107 Bamberger pf (6%). 30s 10015 109 841y 63 Bang & Aroos (3%). 9 & 20% 164 Barker Bros (2) 18 18y ook 84 201 Barnsdall, A (3) 96 30% 20% 30 30 | 53% 32% Gen PublicSve (bf).. 322 474 99% 97 BayukCgristpf(1). 40s 981 98 98 99| 1067 86k Gen Ry Sigmal (5) 49 9 20% 13 BeaconOl.. s 6 20 18% 18y 18| 19% 15K GenRealty & Uuil 41 16 92 67% BeatriceCream (4).. 2 85 85 85 87 | 90 87 GenRefrac(t4%)... 31 85 70% 601 Beech-NutPkg(3).. 8 68 61k 61 64 | 514 39% GenTheat Equip vte. 653 49 57% 327 Bendix Aviation (2). 150 44 41% 48% 42% | 1064 80% Gillette Saf Ras(nb). 234 85% 561 3114 Best&Co (2)....... 87 Bl% 48 50 blw| 20% 11% Gimbel Bfothe 43 18 110% 92 Bethlehem Steel (6). 348 100% 98% 99 99y | 38 ~ 29% Glidden Co (h2) 82 29% 134 1224 Bethlehem Stipf (7) 8 130% 130% 1303 1313 | 106% 98'% Glldden prpf (7)....100s 101% 41% 39% Blaw-Knox (1% 3 38% 38 38 39| 19 13 Gobel (Adolr).. 50 17 29% 28 Bloomingdale Bros.. 1 27 27 27 29%| 47% 37% Gold Dust 2}4)..... 191 46 90 47 Blu'thal&Copf (7). 20s 89 89 89 58% 40% Goodrich (BF) (4).. 57 48% 69 47% Bohn Al& Brass (3). 15 b52% 50% b2 , 54 | 96% 62 GoodyearTire(5)... 15 82 78 70 Bon Ami (A) (4) 3 8% 172 72 ' 76%| 102% 90 Goodyear1lstpf (7).. 2102 84% 60% Borden Co (k3). 80 81 78% B80% 79%( 28% 18 GothamSilkH (2%). 9 20% 50% 32% Borg Warner (4).... 87 40% 3815 40% 39%| 16% 7% Gould Couapler. 2 13% 112 99 Boston & Maine (4).. 2 99 99 106 P 238 10 246 20% 19% 20% 20% < 4 9% 2 32 32 32 32| 59% B37% Granby Copper (8).. 27 87 o ¥ s o) 2% 23| 52 324 Grand Silver§tra(l). 5 42% 21% 13 Brockway Motor Trk 14 18% 18 18 19 | 20% 18% GrandUnfon®...... 14 17 78% 63 Bklyn-] hat (4)... 10 70% 68% 69% 71% 43% 37 Grand Union pf (3).. 5 42 98 847% Bklyn Man Tr . 2 91% 91 91 9ln| 50% 37 GraniteCity 8tl(4)e 1 13% 10 Brooklyn & Quee . 1 12 12 12 12% 43 32% Grant (WT) (1),... 8 178% 131 Bklyn Union Gas (5) 30 164% 159% 161 164 | 102 98% Grt North pf (5). 6 30% 134 Bruns-Balk-Col..... 10 10 19 204 99% 88% Grt North pfet (5). 3 33% 14% BrunsTer & RyS... 15 27% 26% 27% 28%| 26% 19% GtNctfsOP (a3%). 13 31% 22'% Bucyrus (1).... . 2 27 26w 27 26 43 33% Bucyrusev pf (3%). 5 414 41% 41% 41% 16% 9% Budd (EG)Co...... 26 12% 124 124 12%| 27% 12% Grigsby Grunow.... 608 14% 8% Budd Wheel (1) . 26 12% 12% 12% 12%| 46% 356 Gulf Mobile & North 5 74 29% Bullard Co (1.60).... B4 61% B84 60 611 98% 94 Gulf Mo&N pt 2 43 - 261 Bulova Watch (3)... 42 37 35 37 38 | 80 5% Gulf States St 110% 99'% Burns Bre A) (8).. 2 105% 105% 105% 104'%5| 107's 98% Gulf St Stl 1stpf(7) 85 2214 Burns Bros (B)..... 3 22% 22% 224 224| 23% 12% Hahn Dept Stor 6 517% 40'% Burr Add Mch (1)... 81 42% 40% 41% 40%| 86 71% Hahn Dept S pf(6%) 2 4814 36 Bush Termnl (2%).. 4 42% 40% 40% 43 31% 24 Hall (WF) PrCo(2) 1 110 100% Bush Term deb (7).. 60s 107 107 107 105% | 128 100% Hanna (M A) 1st(7).120s 4% Cop&Z(50e). 1 8 8 3 8 | 98 85 Hannapf (new) (7). 508 5% 3 Bu juperior. 4 3 3 3 3 72% 56 Har Wkr Ref (12%). 18 29% 16'4 Butterick Co. 2 24 24 24 24 20 n (B) (1.20). 7 112% 804 Byers (A M) .e. 290 106% 100 108% 106%| 17% 6 ody. . <. e 7% 66% Calif Packing (4).... 4 78% 72% 721 78y | 135 128% Helme (G W) f (7). 508 2% 1 CallaahanZinc&Ld. 6 1% 1% 1% 1%| 8 784 3 £9% 68 Calumet& Ariz(6).. 23 68 66 66% 68 | 107% 70 34 33% 20 met&Hec(ad%). 36 20 19w 191 20 | 106% 831 3 30 19 mpbell Wyant (2). 6 26% 24w 24% 25i | 106% 104% H 1 75% 61% Canada Dry G A (5). 28 66% 62% 66% 63 41% 26% Holland Fur (et2%). 9 226% 187% Canadian Pacifie(10} 50 203% 199% 202 203 12% 6 Hollander Bons. - 2 34% 27 Cannon Mills (2.80). 5 28 28 28 29 29 19 Houdallle Her B(2).. 76 3628 192'% Case (J 1) (8 109 382% 31814 3324 326 56% 49 H'hold Finpf (13%). 2 182 115 Case (J1) pf (7).... 208 126% 126% 126% 128 | 116 521 HoustonOll (b10%). 65 79% b4 Caterpillar Trac t2% €8 78 6% 76% 77%| 41% 31 HoweSound (t4%).. 10 60 35% Celotex (3)......... 17 47% 41 44 4615 | 53% 46% Hud&Man Ry (3.60). 17 84% 71 Celotex pf (7) « 6 B0 77% T7T% 80 624 44 Hudson Motor (6)... 63 30% 23’ Cent Aguirre As1%. 2 26% 264 26W 27 26% 20 Hupp Motor Car (3).. 129 81 Mills... 1 6 6 6 | 136% 127% Illinois Central (7).. 4 65% co (6).. 10 b4% 534 54% 54 | 32 204 Independ Ol &G(3). 13 15% 9% Certain-teed Prod... 2 10% 10% 10% 10%| 17 5 Ind Motor Cycle 67 45 25 Certain-teedpf..... 2 33 33 33 38 28% 17% Indian Refining. 86 7% 36 Checker Cab (4.20).. 73 45% 43% 44% 43%| 27% 16 Indian Refining 49 241% 203 Ches & Ohio (10).... 22 218% 215k 216 2184 | 124 90 Indus Ray(b5% stk) 4 8213 6315 Ches & Ohlo Corp (3) 28 73% 70 70% 74y | 289 164% Ingersoll-Rand (15). 15 !HR 4% Chi & Alton. . e 5 6% 63 98 70% Inland Steel (4) 2 10% 2 T % 30% 19% Inspiration Cop (4).. 47 b LR 17 134 Insurancesh ibe).. o & A 50% 34 ChiGreat Westnpf.. 19 4415 42% '?‘; .Z ..l::::fi?x";&'u?" ‘4’ e Ve 89% 81 Chicago& N W (6).. 18 BI% 80 Pt e q 140'% 137% Chi & N W pt (7) 2138 138 87 22's Chi Pneu Tool 3 2 23% 51 Chi Pneu T pf 3 61% 50% 125' 112% Chi R 1 & Pae (7). 7 112% 112 104'4 100% ChiR I & pr 1 103% 108% 25 Chickasha Cot O (3 127 27 21 a7 lagkw' 18w {::}fi:’:‘?n 571 Childs Co (2.40). . 61% 60 61%4 60%| 1441 140% Intl Harvester pt(7). 3 O il Copner (836 2:'.’; g;:: 54 60 54 31% Intl Hydro E1 A (e2 3 33u rysler P 36! 3 49 40% City Ice&F (k3.60).. 2 44 43% AB: 4: (AT L LR 98% 96 Citylct& Fpf (635). 608 97% 97% 97% 97% 44% 383 Clark Equipment (3) 2 Al% 40% 40% 41% 100 91% Cluett-Peabdy pf 7). 10s 102 102 102 102 187% 133% Coca~Cola (6) 41 177% 176% 177% 177% 51 4814 Coca-Co! ( 2 b1% 61 51 51 35% 14% Collins & Alkman. .. 1% 27% 28 Int nti; TI 36 ColFuelklron )l 20 664 8¢ a5 67 |0 oms Ta Frine ok of (6 s Col Gas & Bl (3).... W 82 81k 110 104% | Gas & El pf A(8) 3 108's 108 s o Apt 98 86 (ol Gas & El pf R(5) 2 97w 9T 37% 24% Colum Graph((a87c) 1583 34% 314 199 1641 Colymbian Ggrb (16) 77 166 1604 40% 23% Comm Credif(3).... 37 33 314 44% 31% CommCreditA (3)ws 18 40% 40 DECLINE IN STOCK PRICES IS RESUMED Market Depressed Further by Short Selling in Coppers and Motors. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, April 29.—Stock es. experienced another sharp setl to- day, when the rally, which started soon after the ning failed to follow through. Selling pressure was particu- larly severe against the coppers and rails, more than a score of which were hammered to new low levels for the year. Weak spots also cropped out in nearly all other leading groups, the de- clines running from 1 to 7 points in the active issues, and as much as 19 points in some of the specialties. Unfavorable Trade News. Unfavorable earnings and trade re- ports, including unconfirmed rumors of & shading in steel prices, probably stimulated the selling movement, al- though there was a rather widespread feeling that the reaction was nothing more than a correction of speculative excesses which had taken place earlier in the year. Much of today's selling was reported to be for short account, with indications of excellent scale buy- ing in & number of issues current and prospects of which are grade issues. Dow Jones & Oo., reported a slight decline In Steel operations during the week, estimating current activity around 771 per cent of capacity as against 78 per cent a week ago. The quarterly report of the United States Steel Corporation, due after the close of the market, is expected to show earnings of between $3 and $3.25 a share, against $5.04 in the first quarter of last year. les Gas broke 19 points on & relatively small turnover. Diamond Match, which recently tacular advance, fell 14 points and Au- burn_Auto 1214. Extreme declines of 4 to 7% points were registered by J. I. \Case, Vanadium Steel, Eastman Kodak, Shefield Steel, A. M. Byers, Worthington Pump, Dupont and Elec- tric Auto Lite. w low records in the Copper group were registered by American Smelting, Anacanda, Cerro De Pasco, Magma, Calumet & Hecla, Calumei & Arizona, Andes, Kennecott, Phelps Dodge, and Granby. Other Losses. Ralls again liquidated freely as a result of the extremely poor showing being made by most roads in their March income statements. Atchison dropped 6 points to 218%, Nickel Plate 41, to 126, and Lackawanna, 3% to 128, all new 1930 lows. Other rails to break into new low ground were South- ern Railway, Rock Island, Missouri Pa- cific preferred, Baltimore & Ohio, Chi- cago Northwestern and Reading. Call money opened at 4 per cent, with indications that the rate would be main- tained all day. Little new money came into the market and there was a mod- erate calling of loans in anticipation of heavy month-end requirements, BALTIMORE & OHIO NET INCOME SHOWS DECLINE Special Dispatch to The Star. BALTTMORE, April 20.—Net rail- way operating income of the Baltimore & Ohio Railroad Co. continues to show a decline compared with last year, ac- cording to the statement for March, just made public, which shows a de- crease of $1,418320, compared with March, 1929, and is over twice the net decrease for February, which was $533,762. All operating revenues, with the ex- ception of the mail, showed a decline compared with last year, freight lead- ing with a decrease of $1,983,846. Total operating revenues for the month were $17,805,405, a decrease of $1,477,918 compared with March, 1929. Economies effected during the month in operating expenses totaled $997,549, making a net revenue from railway operations $3,874,- 233, & decrease of $1,450,369 compared with March & year ago. For the three-month period of this year operating revenues totaled $51,- 231,181, a decrease of $5,439,688, com- Pned with the corresponding period of ast year, while operating expenses for the perior totaled $40,983,811, a decrease of $2,818,865, making net revenues from railway operations $10,247,370, & de- crease of $2,620,823. FIRST TRUST LOANS Reasonable Rates Courteous Treatment 0Oil Stocks BY GEORGE T. HUGHES. (This is the sixteenth of a series of prief analyses by Mr. Hushes of rincipal oll stocks. 0t recommend the of any e purchase, or articular st but to give investor such information as may enable him intelligently to chart his own course.) Although paying no dividend on its stock, Continental Ofl Co., formerly Marland Ofl, the name having been changed in June last year, when it was merged with Continental Ofl Co. of Maine (the present company is & Dela- ware corporation), is & strong unit in the industry. The report for 1929 re- cently made public shows $1.90 a share for the merged com| es.. No exact comparison is possible with results in the preceding year, but in 1928 Marland Oil alone had a net loss of $4,987,600 and the old Continental Oll a profit of $3,348,000. These re- sults are computed after heavy charges to depreciation, depletion and intangi- ble drilling costs. The corporation writes off these charges at the highest rates allowed by the Federal Internal Revenue Department. It will take a year or two for the benefits of the combination to show in earning statements. Meanwhile, of course, the stock is entirely a specula- tion. Dividends on the old Marland shares were discontinued in June, 1937, and none has been paid since. an- cial position is exceptionally strong. As of December 31 last, there were $20,~ 222,100 in cash and marketable securi- ties against all current lHabilities of $8,712,300. This showing offsets the increase in inventories of crude oil and refined products which characterizes the balance sheet of Continental Oil as it does of most other oil cers. That inventory item in 1929 was $39,- 991,328, against only $8,405,147 the year before. This situation will change for the better when conditions in ofl trade improve, as they seem to be doing at this writing. Continental Ofl has more than $32,000,000 in funded debt, consisting of $20,616,000 in Marland Oil serial 5 per cent notes, $10,552,000 in Conti- nental Oil of Maine 512 debentures, also maturing serially, and $943,000 of Pru- dential Refining first 6l2s. Of this amount $7,600,000 of the Marland Oil serial 55 mature on June 15 this year. ———— A Few Charter Shares Available Montgomery County Building Ass’'n 6972 Wisc. Ave., Bethesda, Md. Authorized Capital, $5,000,000 Safety, Availability, Increasing Value and Earnings Full Particulars Upon Request MARYLAND LOANS SOLICITED ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. th Issue of Stock Now Open ik Le Subectiption. Money loaned to members on easy monthly payments INVESTMENT STOCK g D 0, P1d., Convertible I S exunae! sislas over 35 Recommended. Courtland Nizon, 1518 K 8¢t. N.W. Nat. 192¢ Established 1899 MONEY TO LOAN At 514% and 6% Interest ING OR RENEWING Established 1899 INVEST YOUR FUNDS IN First Deed of Trust Notes Bearing 6149, Interest In Denominations of $250.00, $500.00 and $1,000.00 WELCH Realtor Consult - Loan Specialist THOS. E. JARRELL CO. REALTORS 721 10th Street N.W. Nat'l 0765 More Important Than Anything Else —when your Payday savings are involved, is You want fair return from them, but protection comes first. 1l The security and service at the command of our fifty-odd thousand depositors, have successfully met the tests of over sixty years their Safety. of business contact, Deposits invited —Same Rate of Interest Paid on Jarge and small accounts. OFFICERS: WILLIAM D, HOOVEE.....President WOODBURY BLAIR......1Ist V. Pres. FRANK STETSON, 2nd Vice Pres. CHAS. C. LAMBORN d Trust OMcer 3 AUDLEY A. P. SAVAGI National Savings & Trust Co. 64th Oldest Savings Institution in the District of Columbia Cor. 15th and Nc!, York Ave. Year National Savings & Trust ding 15th & N. Y. Age. N.W. Natlonal 4346 1 Capital & Surplus $3,500,000.00 “( Open Until Hi‘ 5:30 P.M. April 30 and May 1 and 2 m any amount DIRECTORS: AMES J. BECKER WOODBURY BLAIj WM. A, H. CHURC] WALTER C. CLEPHANE . ROZIER DULANY. Jr. FRANKLIN H. ELLIS [ RRESCOTT GATLEY WALTER BUCE HOW REGINALD §. HUID) FRANK STETSON WILLIAM ALEER U S RS FINANCIAL, ¥¥s A-13 Mo to Loan TRUSTEED SHARES | sepet s 400 1 e 2.t i Tomane & (|| Joseph | Weller S5mech iz & Ty Btk TS ey organisations. Sold in Lots—3$100.00 Up Call or Write Standard Collateral Shares Corporation eodward Mot 8788 Money To Lond] Property in the District of Columbia First Trust Only Immediate Attention Wm. H. Saunders Co.. Inc. 1433 K St. N.W. Dist. 1018 First Mortgage Notes FOR SALE In Denominations of $250 and Upwards New York Title and Mortgage Company With Capital Funds Over $63,000,000 issues owners’ and mortgagees’ policies of title insurance on real property in the District and nearby counties of Mary- land and Virginia and underwrites certificates of title issued by Capitol Title and Guarantee Company Chandler Building Washington, D. C. Prompt Service Courteous Attention Tovcucan Teemone o TeLecuien Copaoy ‘Twenty-Year Sinking Pund S} % Gold Debenture Bonds First Mortgage Loan Applications | Invited at 5)5% Connmcfim Loans 1508 H S¢. N.W. National 1753 G.M..P. MURPHY & CO. New York WASHINGTON Philadelphia Richmond London New York Stock Exchange Washington Stock Exchange Richmond Stock Exchange New York Produce Exchange New York Curb Exchange Copy of our “Forinightly Review™ on Requess 1510 H Street Connecticut at K National 9600 F. B. KEECH & COMPANY Members of verpoal Cotten Aseciation, Led: e e Brtanes (dswos. Mombors) N7, Coffes Tac. ubber mrne-"-'-g-&.__"".-fu' Now Camber of DIRECT PRIVATE WIRES H CORNER 17TH ST., N. W. WASHINGTON NATIONAL 0248 SEASONAL BRANCHM OFFICES PALIBEACH MMM SARATESA SPRINGS BAR HARSOR DAY /OR WeSSS ‘The Cash Requirements of Your Estate May Be Met Through Life Insurance e oo s o o d In the settlement of every estate, cash is required to meet immediate ex~ penses. Debts, claims, various taxes, atQde.'neys’ and executors’ fees must be pai Few estates contain sufficient cash to meet expenses until the sale of certain assets has been completed. Some- times a forced sale causes a loss to the estate. Adequate life insurance would pre- vent this and also enable the maker of a will to estimate accurately the amount of money his beneficiaries would inherit. You Are Invited to Confer With Our Trust Officers THE WASHINGTON LOAN AND TRuST COMPANY JOHN B. LARNER President LEONARD MARBURY Assistant Trust Officer HARRY W. GAUSS Assiatant Trust Offcer WILLIAM H. BADEN Vice President end Trust Officer BERNARD L. AMISS Assistant Trust Officer CHARLES M. IRELAN, JR Assistant Trust Offcer