Evening Star Newspaper, May 12, 1930, Page 13

FINANCIAL, . THE EVENING STAR, WASHINGTON, D. C, MONDAY, MAY 12, 1930. FINANCIAL. STEAMBOAT STOCK | [ NEW YORK STOCK EXCHANGE ||STOCKS IRREGULAR | 2tmiem i e [ AL ESTATE bomks | [t leaf mbuco showed Increases last week, Recetved by Private Wire Direct to The Star Office. i’ fommer totating 143 ogmenas-aod | TYLER & RUTHERFORD |[| oo merone—soim—puiera the Jatter 148 hogalieads, leaving stock hr,m,m vieg on_ieh-ciass ISE R’S ;'“36'!"; tice—All stocks hundred-share - ~ _ swer Sales— Prov. cco warehouses of 1,729 || ar werlings: UFFER EXHAINED ml:- mg “'-.l":‘l'.“' f-. mt- o (a5e) m".‘: g Loy Dividend Rate, _AGd % Hieh. Low. Close Close anhnu Mot of the sales were of || larly on "r}'.u":-n:'a_& Aess prep Sravertios. INSURSNCE=ALL' BRANCHES May inspections, and the market is o s Nat. 0340 “hich stows thoss siacks to be seid In odd los ony. S0 T Dunpiilian o 30 holding steady at the following quota- || 1830K St N-W. _ National 0478 e s L 930, B8tock and Sales— Prev. = — . ToNIE aita Dividend R 1 Low. Closs. Close. [ 182 Duplan 811k (1). 2 te hoas per 145% Du Pont de N (14,70) 40 .00; sound EOWM , 13.00220.00; good New Issue of.N. & W. Com- 22 par 3 S 1% 314 i o Bipont aexabuite) 1 ‘ Copper Group Advances on : .m%"“"“‘ASS mediom, 31308 8 30 30 30%| 102% uques Lt 1st pf z : . pany Is Priced at $100 1 4 304 304 30% [ 251 Eastn Roll Mill(ht3) 5 Increase in Metal Price. > :00¢ seconds, Hand in 18% 19 18% | 2551 175% Eastman Kodak (18) fss i A000: upper Sony Hand With Per Share, e P ¢ fe B3 I8 | T T Biminsoina. 16 Utilities Gain. ley, nominal; ground leaves, 6.00824.00. Busi . 143% | 1147 Eleo Auto Lite (6)... o usiness o ug‘: f EleerEar 5% 5% BY CLAUDE A. JAGGER. e S EIUE Thi bank b . STONE. ¢ Alaska J o “ % ectric Boat. .. Y i ' is veteran bank has BERWARD ": “ o, Aifely Woap Bases, & 3, 154 1031 Bl Pwr & Lt (1) ; Associated Press Pinancial Editor. m’ffitififg b et ‘;‘;}"“’:‘J& been identified with the Details regarding the offer of 1, 2 Allegheny Corp. 6 26% e NEW YORK, May 12—The stock|rentes, 86 francs 80 centimes. Five Capital's commer cial - 5 a5 Elec Storage Bat (5, . :&gln:n;‘::::;: fsa‘:n:b:.”: ‘(:: :::! :;l]:: (C::: ::3:(‘ --'2) 0 9 EY::lCn?t--‘%hn (5) ,. market appeared to lack conviction as|per cent loan, 101 francs 60 centimes. development ever since . ; Exchange on London, 123 francs 89 3 98 Eng Pub Serv (31) 60 |to its position at the beginning of the recently sent to all shareholders by - skt AT Eng Pub Sve pf (8) . b = et gentimes. " The dollar Was quoted at 25 Odell S. Smith, the treasurer. Amal Leather pf Eng Pub Sve pf(5%) were inclined to advocate steering close ’ The stock s offered to stockholders Amerada Corp (2)... 34 Eris RR.. % " dithe Am Agricul Chem. .. ; Erle R R 18t pf (4).. to shore until current levels are tested. Beiors of record at Ui close of business| Am Agricul Ch bt. b ; et AR e s extremely dull and highly : on May 28 will be entitled to subscribe Am Bank Note (93), RSO S i e e here Vore oparodic ¢|| Real Estate Investments 3% on Savings in the proportion of one additional b Y o Fairbanks Copf. .. .. 3 "’1‘;: n‘:,dg‘:‘l‘e‘ DN s e L ER e s Am Brown B E p(7)100s Fasn P Asto pé (1. 608 but there was a distinct tendency to|| JAMES Y, PENNEBAKER The last sale in this stock was made ¢ on the Washington Stock Bxchange at Am Can (4)... Fed Motor Tr (80e). take quick profits on advances. 9% 9 ‘eek end trade reports emphasized §280 & share, whish shows the present| 637 £ Am ChainCo 1) 1 : Ped Wat8.4 (e140) | moderate. gaine i el trede whin|| Nat.5291 1520K St.N.W. N t’ M tr H Yyalus-ot the ofier of-extra Slock 8t par. Am Chicle (12%)... 1 & 4 encouraged speculation for the rise in ato e Opo an bDa The rights are selling on the exchange | 5y A GOt AL 6N 18 , ! o 81w | some of the merchandising ssues. The at 17, . 35 2 ur. Y arge scale ng of copper me! r- . The additional stock is being issued e bl o . ing the Iast few days cavsed an apward| First Mortgage Loans to provide funds to partially reimburse | 'ggts GF ATEFOIRTOMEr L 207 h revision of 1 of a cent a pound for the the Smpanye ,'-rr;-sur)‘ u“’; Pl-:: ““IL‘:! 3 % Am Hawatian S8 (2) e Postes Wheanar ¢ mgtal, mlklrx:; the dl;!memc "cfu 129, | Lowest Rates of Interest and Commission 15th St. O te U.S. T expenditures. e notice states " ™ Home Prod (4.20) 4 > cents, which was reflected in n.her o o Do warrants will be mailed to stockholders :m 1ce Co (14)... Lk C H strength in the copper issues. News from | Thomas J. Fisher & Company, Inc. t t., Opposite ECREvEY on June 14, and all subscriptions must A IR tGTet s ess 5 3 g LA b : the petroleum industry was a little less be received before the close of business At Locomotive (8) s, y 25 Toanonts Senores cheerful, as threats of further price cut- on August 6. Payments must be made Am Mach & Fdy (7). Fuller 24 p£(11.40).. 108 ting to ‘force adherence to the curtail- in full at the time of subscription. AmMa & prex (1) PRI " 5 ment_ plan on the Pacific Cosst were TRUSTEED SHARE" The treasurer announces that stock- 3 Am Metal (3), N 48 Gardner Motor. . % 4 heard, but the shares in this group the or holders having less than nine she Am Piano. .. Gen Am Inv pf ( 18 were dull. e -ho gfln H ‘gfi may subscribe by acquiring additional Am Pwr & Lt ($1) Gen Am Tnk Car(34) 22 On the whole, traders appeared to L °' e subscription rights, enough to make nine Am P&Lt pf A 8t(5). 7 Gen Asphalt (4)...0. 20 % feel that the sharp rebound last week Vool m.,,{. ore mamflu or a multiple of nine rights. 3 Am Ra&Std San 1%. 2 gen :lkln‘ p’f)ll) r;pre!enud ‘1’;" ndl':lehmc-l hc!(anvmcmn funds and funds of oruox;n‘tlun- i al Offices. Am Republics. , 25 en Bronse (). % |of an oversold condition reacl the Sold in Lot 100. rg: 80th YEAR COMPLETED Garrett Secures Local O o Am Rolling Mill (2), 2 7 Gen Cable. sharp reaction which came to & climax Call :,-—"V"'“ " President WALTER 8. PRATT, Jr, Secretary Robert Garrett & Sons, one of the Am Safety Razor(5). Gen Cable (A) (4, a week ago, and that the market again A cee00..85,723,083.61 Surplus & Profits. $1,785,911.57 gdg;t tynd“:dué kmt:wrfifl:’:n:c!::"ggufil Am Ship ARc:mA 3 Gen clgar (6). i m‘u‘ds itself on utneerhln ground. Specu- | || Standard Collateral e Un! , havi of - 0 4 Am Sm & Ref (4). o 5 en Electrie (1. lative sentiment was none to cheerful, ipti i) fices in the Shoreham Building, at Fif-| g Am Snuft (+3%) 4 3 Gen Elec spec (60¢). the more optimistic quarters holding . < Subscription for the 99th Issue of Stock Being Received teenth and H streets, as the yew home % Am Snuff pf (8). 315 103 57 Gen Food Corp (3). . that a quiet, irregular market may be for their Washington branch organi- 12 Am Solv & Chem 6 3 i Gen Gas&E (A) new. expected, with selected issues making = This unit, operating for the| 3 Am Sol&Ch ev pf(3). Gen Ital Eds (a2.62) 40 substantial progress, while the feeling 0 convenience of their many clients lo- Am Steel Fdy (3)... 8 ; Gen Mills (3). |in less cheerful circles was that a sus- Real Estate Loans M-d- Save Systemahcany! cated in and near the National Capital, % Am Steel Fdy pE(1). 402 3 Gen Motors (+3.30).. tained rise would have to start from will be opened on June 1. 7% Am Sugar Ref (6)... Gen Motors pf (7)... lower levels. Credit conditions held sta- Lmkm! Co This fact is disclosed in connection Am Tel & Teleg (9).. 162 2 tlonary, with call loans still command- :v‘gd the -;:Inzuncrfi;ng:-}t“?dmi&m u{t! Am Teblc;:l tl' ; 4 A % ing 3 per cent. It was felt that the new ey = = , unt ecent Am T ()., Y bond department of the Central Na- A8 Water Wiks (235 offering of $100,000,000 in Treasury bills Money to Loan sz 50 1814—Oldest National Bank in the District of Columbia—1930 The Equitable plan encourages thrift tional Bank of New York, has become Am Wat W 1st p£(§) Gen Real & Ut p(8). ::’l';: ;m('me'w{ firmer tendency | gureq b7, 807 938 ot tram on rea) extate. : t,doud ot tras on ¢ and systematic saving. Start now while affiliated with the firm as manager of Woolen. . ) Gen Refrac (t4%). .. ’ : o the Washington office. o’ Am Woolens ; Gen Theat Bauty vie. 168 B e b et | Joseph ] "Weller "‘:"&'- A PER you are earning and save consistently for s Wood :;.;lriorounlk:ly":r:fli:rn :ltg % 8 AmZine Ld & Sm. Qillette Sat Raxnb) 24 house Electric during the early after- SR 1V financial independence. C in tod: gton nterests, and & ‘Anaconda Cop (1 Gimbel Br. noon, but losses were limited to 8 point B— e - SHARE o P ST oL well known here an altimore. - He Anaconda W&C (3).. 6 Glidden Co (h2). 33 or two. Market observers were inclined = d 1 lain OUR h e:t;:::‘)g‘fia;l' ;’:fi;‘:&c:hmug: R :n:hnzs:z.fl‘d.fl’) . Y Gildden pr pf 11)....200- Y to link this feeling to the fact that the Fll‘St and'let us explain methods. ndes r(3). Gobel (Adolf). rtment of Justice is planning to connections with some of the most im- Archer-Dan-M (2) Gold Dust (2%) u e w ew alignm nt underwriting ’"’“mfl,in ‘t‘{‘\e . Armour of Il (A).s.. 9 Y Goodrich (BF) (4).. 4 ri“um’. lgx‘nl{:lynloe: ‘:fiznnr‘,’u.r-ct f,’:. American financial world. eatly Armour of 111 (B). % Goodrich (BF) pf (1) 9 9 been blic knowledge for several days. Mort age 915 F St N W m.;ng:o :l:s&uqulred B‘l‘n :&;T‘?fi'n:. Armolurc of 111 1;: @) 7 Goodyear Tire (5)... & U. 8. v;"ufl fluctuated uncertainly, with p = s Sons. Arnold Constable. ... K Gotham Bilk H (3%) 6 - eduction in unfilled nt executive positions with A880 Appl Ind (4) s+ s 1 the 216,438-ton reduction e l! m Noyes & Co. of New York; Asso Dry G (2% r g::;‘.:‘:;::;’l o - o ummfe dur!n‘ April apparently causing oney the Central National Bank, now merged Atch To & S Fe (10). Granby Copper (8).. it o[ me weak spots in the mar- with the Bank of the Manhattan Co., Atch To & SF pt (5 Grand Stlver Stra(1) s repaired by the final New York City, and with Robert Car- At Gult & W Indies. i Grand Unton. Tett & Sons. Atl Gulf & W Ind(1). bt ol nd the list began to partake of The firm is well known in Washing- 364 At Refining (1D« r. Grand Unton pf ). e etratiath sl by, & Balr doasni 6 R for BUILDING Granite City 8t (4). ton. It was founded 90 years ago by issues in which the floating ‘“PPIY Robert Garrett, whose name is identified 33'30‘.3. ':; (’Il)’. i e i e T with the history of the Baitimore & " 4 Auburn Auto (14). 9 Grt North pf et (5) . LOANS Ohio Rallroad. Two members of the €' Aust Nich prpf A. % 6% amm-ormu). family have been presidents of the Autosales........ 3 6 : Baltimore & Ohio. Auto-Strop Saf R} ; i L il Brooklyn Union Gas, Electric Water or One member of the vmem firm, John Aviation Corp of Del Gulf Mobile & North 288 Light and Pan-American B Jose IMPROVED W. QGarrett, now Upited States Am- Baldwin Looo (1%). Gulf States Steel (4) ’ e VE Mi i S Life I bt B e S B A e Buldwin Loc (1) Hackensack W (1%) 4 e T PROPERTY The Missouri State Life Insurance Company to o eee L - . . . D SNEa Amerisntletalin. at Balto & Ohlo pf (4). e TR L 9 | 5050,000 shares. AR has paid dividends to its stockholders every e At oh N oy e Har Wkr Ref (12%). 6 e g 5 e eatiss in Barnsdall. A () Hartman (8) (1.90). : U. 8. TREASURY BALANCE. Prompt Action year for 28 years with the exception of two Belding-Hemingway 2 Havana Elec Ry... - 4 Berlin and Rome, as United States 4 - States Treasury balance o Minister to Venesiela, Argentine, the g el ; e s '1‘: of clo-? of us- B. F. SAUL CO. Yeane ietherlands an uxem| . an " Bethlehem Steel (6 » ness May 9 was $107,767,764.10. Cus- " the outbreak of the World War, Blaw-RKnor (1351, . i o foms receipts for the month to date| | 925 15th St. Nat'l 2100 sent to France as a special representa- Bloomingdale pt (7). 9 were $15,660,805.87. Total ordinary ex- - This splendid dividend record is fur- Gve of the State Department in the AL Bhpait 1) ’ Houluine Her Bi3). b1 penditures, $11,560,797.59. ihee proof of the soundness of this American em 3 H'h6Id Fin pf (183 R ey b ‘ 3 Houston O11 (b10%) . company. We recommend the pur- Mellon Announces Treasury Issue. British Eml"h“‘_fl‘f-l 1 ! E:::fl::"gy'":“u.' chase of Missouri State l"ife Insut- Secretary Mellon announces that a Brockway Motor Trk 2 bl b ALY ) ; ance Company stock at the present =T e, B i AT cime and vill be glad to furnish a " 0 Illinois Cent 1s In(4) . - . 2 2 m;::;::nm B R 9 Ibaspena ONE G1S). o We take pleasure in announcing that detailed analysis of the company the ] banks and Bucyrus (1), upon request. bunchu uj 0' .m. on urs- ueyrus ev pf day. Tenders will nob be received at the Budd (B &) (1). o ; MR. WILLIAM A. WOOD ‘Treas: Department. Budd Wheel (1) m'""“ “Rand (15) s ‘Wil be dated May 19 and Bullara Co 1 : LALL IO Y e e L B R | S R o s sy g aere v STEIN BROS. & BOYCE ) ill B 3 2 4 . " % " Z B hitedin ‘bearer forin Tf;hniviblkdwin :z:E._Ard;O’.lelh il“ i vt R Y the investment affiliate of the Central National P ‘d e b nl ( s . . al he L :fi?o‘:)‘(‘!um%r ;f;{mmxfi'fifiq"nfl?“ Butte Cop ¢ 7 3 Int] Bus Mach (n6).. Bank of New York City, h ociated himself Ml Int] Carriers ‘ v 'oodward Buildi Washi D 4 2% 3 2 'war uldin ashington . G Sales and Collections Better. o oon Intl Cement (4). o with us as of this date as manager of our e Wi Main e e Tbe National Association of Credit Oalif Packing K i - Intl Harvester (3%). Washi off Members NEW YORK, Bal d Louisvill rts improvement in both sales 1 Callaahan Zine N ashington ce. lembers , Baltimore an ouisville A l'nAJorlly of contributing to & umet&Hec(a . p I . survey in 46 cities characterized their .Canada Dry G A (8). ;::_ll :&L{‘:‘"&:(‘n- Ban G @w® S Associate Members New York Curb Exchange sales ‘as “fair,” while 28 cities reported . Ganadian Pacifie(10) Intl Pap & P (A)9.40 3 obert Larrett ons | thelr sales a8 slow” S Gannon Mills 27 Intl Pap & Pwr (B). . rty-nine cities reported collections o . . sfaiz" and 34 cities reported collctions g j Efi}% ,’;:‘,::P’,,"r",‘:?,.,. 1% 2 New location after June lat Baltimore, Md. » ntl Printing Ink (3) 14 Today's Trading on Exchange. Intl Print Ink pf (6). 3708 695-626 Shoreham Building May 12, 1930 Capital Traction e0ld at 75 in smail | 15% 9 1 ot e e "“2'“"* fots again today on_the Washington 484 Inter Dept Strs u).. 1 Lot e ool i i Chee & Oblocorn 83 4 Investors Equity(3). & R l. . Y Conimibie. band & Qravel preferrad Chi & Alton pf...... ) e CORIEN it " elieving our moved at 95 and Lanston Monotype & Eastern Ill pf., 3';{' - }‘4.: bt " 10?': A i s ol ae 1. Dol i d i Tax Worries -J.“E" SRl 16 sy S Sasuralt Beve ; § ’ Kan City Bow (8)., - y T single share ol ational Sav- ‘e 4 A seve - = - - : Trust changed hands at 575 Kan City Sou pt (4). THE INVESTOR who will leave &1 15 shares of Retiousl’ Pank ot 4 2 Kaufmann DS (1%). ] " S 10010008 11000000 Washington sold at 250. In the bond [ 37 17% . Kayser Julius (4 2 $100,000 to $1,000,000 or more division there were $500 sales of Wah- ? Ol 3 to his wife and heirs is confronted s in Gas 6s, lerMAel‘A. at 132',«,, and 24 3 3 ! 8 38% with the following questions: 8 very small sale in Potomac Electric Chi R1& Pac ot (7). Power 6s at 1054, ~ Chilas Cnc'l 10)‘ Kennecott Cop (5 : 7 J {1t 1. How much of my estate will Finanelal District Notes. el LA 3 0% > fim::;llya'?‘,""“) go. % " Soutbern Pacifie . they actually receive? Lawrence A. Slaughter, vice president ) 3 Kolster Radio. g Union m 2. How much will be con- of the Commercial National Bank, who Aol o AR 5 Kraft Ph Ch (1 = 3 S sumed by duplicate state has been taking a vacation at Atlantic ‘Coca-Cola ¢ 2 2 Kraft Ph Ch phlub 7] - s d ) e City, was back at his desk today. As 1 Kresge(8S)Co(1.60) W 3 P inheritance taxes? chairman of the District Bankers' As- X Colgate-Pal-P (1%). 88) pt (1).. : How long will they have to . . Lo i Colltns & Atkman. .. 19 t g ' A mn'.'.""m?w.n&%flf"gffi.fi.‘fr m Colo & Sou 24 pt (4). 9 invite B DIE Semoany wait while my estate is be- secured some very excellent apeakers. S e, 9 L. Kroger Granakini). 1 1 i 2 Standard off ('nmmu ing liquidated? Washington retail merchants are in- e IR T g Lago Of) & Tran: “ applications v 5 ferested this week in the proceedings of Colum Graph' (a87¢) BY 29 Fan Rubber & Fii L&l : w Jerses) These considerations have caused Dry Goods Association which opeps in g::':g':“fi':;)"" s Lehigh Valley Coal or = Standarg Oft Poprany many wealthy investors to forego Chicego today. The association is com- o Cheait A (b) .. - 3 v Leh Val Coal of (3 ‘Pexas Corporation ownership of common stocks. posed of dry goods, specialty and de- se y Lehtgh Valley (14%4) fotgi . Yet today it is recognized more Industrials partment stores of the country. Comm Cratl pt (1%) Yot 1o Fecognized tl o FIRST MORTGAGE LOANS b Gomm aiachascioi ol gt =2 3 Washington is represented among the Com Credit 1st ($14) sisuponiaiiatwellibalanceniingesia Bunannwa executives of the organization by H. H. = axy SLARLAN) Levi, vice president and general man- Bl ager of the Hecht Co., who is vice g C:“""‘f: .“s'“""o" president for the South of the national e SEGeYS) quulfl Carbonte (4). association, _ Cmwith & Sou pf (6) 5 108 3 3 314 & L.caw'l.lnu o T Companies registering greater pros- é""‘:’ = N',',";‘ ¥ perity in 1930 than they attained in e 3 1 are discussed in the current issue of the Financial and Economic Review, Consol Caor p? 4% e . il properties in the District of g solving these difficult lish thi Igle- ¢ i ; Rub e%oor -’11-::‘:{::: l‘:sul; nvnvkrn':p : Fiim pt (2).. 2 3 3 3 214 Lorillard (P) pf (7). lumbi da by M Notth American Trust Shares are American Telephone & Telegraph com- b ] fl,";,“‘.', i 4 8 Leuinase O e Columbia and nearby Mary- participating certific of owner- mon stock, with speclal reference to the d 0 102+ 2% 102 \x > Ten Company's’ new financing and. rights. i e r2g 2 y Ludium Stee) (3).... ' land suburbs . . . Lower oni ship in a group of twenty-eight Consol Textil stocks d. ited with the Guaran Banks in Insurance Field. ” Contl Bal MoKeespt T P(143). § o s deposited wi ty 7 Contl Baking (B - o e o) Costs, Long Term (if e amy™ | Trust Company of New York, The recent decision of the Boston Mekes & Ro pf(3%) ) T, Th k i Five Cents Savings Bank to establish bl ol , McLellan Stores. rustee. e stocks are registered & deparment for the Writing of iife e € Maok Trucks (6). . n g desired), Valuable Prepay- i in the name of the Ti nd the insurance and old age annunities, di- £2: i . y Tects attention to the fact that there 5 Madison 8a G (1%4). % ment Privileges . . . Three- share certificates issued in are now 12 savings banks in Massa. Magma Copper (5).. s A bearer form. The shares, therefore, ts duct i life 1 de« Mallison & Co.. 8 Haac a S < fhmnnmm‘enuc.fi'} ducting Iife insurance de- nd Mallison pt (7). 1 % 0 vearloans on newer proper- '4:" ',',:' ';:-, pass by delivery as with a bearer pany = ment program. - on residences and business Many larger investors have turned to North American Trust Shares in : - IS PP banks acting s agents for the . b 8 e bond. savings banks which issue policies. 5 . . . . i i . R T R ; 2 san Elev mod @y, ties without amortization urther details upon request resenting $66,500,000 insurance written 9 G MATkeERERy boph. Dby savings banks. 22 Marmon Motor (h2) FOREIGN EXCHANGES. i | B it Mo Al . o Loan Correspondent for “The Prudential” W. W. LANAHAN & CO. entom pound o A SERs Curtiss wnnxc.ru' Washington Office: HILL BUILDING ggnlm, M ) 5§;: 'izi:fg g::f:g:;‘:;"f.:; Co (3 H' L' RUST COMPANY Edwin D. Flather, Manager I : ’3‘.‘»'\‘-'.'& trane. 3 3503c Davison Chemieal % 35% 35 Miami Cop 1001 FIFTEENTH STREET NATIONAL 8100 Telephone National 6997 adrid, peset T Deere & Co pf (7) Michigan lll im2y 6 achill i 73 Dyl rs M1d-Cont Petm (3)., ESTABLISHED 1ese Members New, York & Baltimore Stock Erchanges ‘"3..’. o) '2 - i SAiaab RiniAs 1) 9 Associate Member New York Curb Ezchange Dom Stores (31.20)..