Evening Star Newspaper, May 14, 1930, Page 13

THE EVENING STAR, WASHINGTON, 1930 FINANCIAL. . JACOBS COMPANY || NEW YORK STOCK EXCHANGE SIUGK |NBREASED| Notice—All stocks are sold in ome hundred-share lots | —Prev. 1930.— Bales— excepting those desigrated by the letter s (65s) (285) | Hish. Low Dividend Rate. Add 00. High. 43 Crown Cork & Seal. . 5 464 which shows those stocks to be sold In odd lots only. ol L L L 4 Crosley Radio (1),.. Cruaible Steel pf (7) Cuba Co. D. C., WEDNESDAY, MAY 14 RAIL STOCKS PROVE |ECONOMY IS URGED [['Equitable Co-operative Blds. Ass'n MARKET FEATURE] IN' RETAIL FIELD List Turns Upward After|Credit Men’s Official Reveals Organized 1879 50th YEAR COMPLETED JOHN JOY EDSO! President WALTER 8. PRATT, Jr., Secretary 723,083.61 Surplus & Profits......$1,755911.57 Subscription for the 99th Issue of Stock Being Received ~Prev. 1030.~ 8tock and Sales— High. Low. Dividend Rate. _Add 00. High. Low. Close. Close. Survey of Mergenthaler by!| 110 104 Abranam&stpe (7). 208 109 108 109 107 0% 30 Economic Experts Shows Rating High. BY EDWARD C. STONE. The authorized capital stock of the| Jacobs Transfer Co, Inc, has been| increased to $500,000, of which $200,000 is fully paid in. ‘The company, which has been en- gaged in the general hauling business, was established in 1857 and incorpo- | rated in 1913. It is the purpose of the | company in the near future to establish | freight terminals in Philadelphia, Balti- more and Washington and to maintain daily service between these points. ‘The officers of the company are W. E. Humphreys, president; James L. Evans, vice president, and L. W. Mason, secretary-treasurer. The board of direc- tors are W. E. Humphreys, L. W. Mason, James L. Evans, John D. Howard and Carlion A. Guenther. Mergenthaler Stock Reviewed. Btandard Statistics, New York, has fust published a special review of the stock of the Mergenthaler Linotype Co., which is of particular interest to Wash- ington since so much of the stock is owned locally. “Earnings on the up- e; a high-yield issue for long-pull olding,” is the rating that the com- ny gives this security. After stating Fhat the approximate price is 106 (it a0ld yesterday at 107) and the 1930 range 110 to 105, the review con- tinues: “For the seven-year period from 1920 | to 1926 (inclusive, net income of this company was $2,305,000 in 1922 to & high of $2,690,000 in 1925. In 1927, however, & sharp recession was ex- perienced, attributed to unusual busi- ness conditions in this country and abroad. Earnings have subsequently improved, amounting to $2,228,615, or $8.71 per share, i the fiscal year ended September 30, 1929, compared with 41,003,673 the preceding year and ,802,565 in 1927. .“"On!zmlundlnt capital stock consists of 956,000 shares of one class, no par. Por approximately 30 years from organi- zation until the stock was split two- for-one in 1926, dividends were main- -tained at the annual rate of $10 a| share, with numerous extras. A $5 annual basis was established on the new stock and has since been increased 0 $6 & share, with extras of 25 cents quarterly, Including the extra, yleld at current prices in 6.6 per cent. ‘The company has no funded debt. Finan- clal position is strong, with $17,165,500 current assets, including $1,198,300 cash, and only $500,600 current liabil- ities shown in the September 30, 1929, balance sheet. Book value of the stock 1s $100.03 & share.” Brawner Elected to Exchange. John F, Brawner, son of the late John W. Brawner, has been elected a member of the Washington Stock Ex- change. Mr. Brawner is vice president and general manager of Waggaman, Brawner & Co. director of the Lin- coln National Bank, the Carpel Cor- poration and its subsidiaries, a member of the Racquet Club and the Columbia Country Club. Mr. Brawner received his education in the Central High School, this city, George Washington University Law School and the University of North Carolina. He takes the seat formerly held by Prank B. Pryor, who for several years Was one of the most regular attendants at all sesions of the exchange. 400 To Attend Convention Here, Approximately 400 sales representa- tives from Pennsylvania and New Jer- sey are expected to attend the can- vention of the New York Life Insurance Co. at the Willard Hotel, Friday and Saturday. Senior Vice President Thomas A. Buckner, will be honored at the con- vention in observance of his fiftieth an- niversary of service. George W. Long, spector of agencles at Philadelphia, will preside, Woman Chairmen Appointed. Committee chairmen for the new ad- ministrative year of the Bank Women'’s Club are announced by its president, Miss Mabel V. Royce, Washington Loan & Trust Co. They are: Dinner commit- tee, Miss Marian Sebastian, National umv%onun Bank; program, Miss Lois A ite, Federal-American National Bank; Miss Winifred Burwell, National Metropolitan Bank, vice chairman: fel- lowsl Miss Mary Craven, District Na- tlowal Bank: publicity, Miss Catherine Krieg, Riggs National Bank. Auditors Select Committee. Raymond G. Marx, chairman of the suditors’ section of the District Bankers' Association, announces that the execu- tive council has appointed the following members to make the nominations for next year: J. E. Benton, American Se- curity & Trust Co, chairman; E. H Parhsley, National Bank of Washington; 8. Peacgck, Chevy Chase Savings Bank; A. A. P. Savage, National Savings & ‘Trust Co., and Eugene Marks, Mer- chants’ Bank & Trust Co. Insurance Conference Ended. General agents of the Provident Mu- tual Life Insurance Co. of Philadelphia, through the Southern area, closed their annual Spring conference with home office officials yesterday in the Hotel Mayflower. Two days were spent in a discussion of agency problems. Those who spoke from the home office were M. A. Linton, F. C. Morse, J. H. Cowles, J. 8. Scott and E. M. Bechtel, jr. H. O. McLean is general agent for the Provi- dent Mutual in the District of Columbia. Busy Session on D. C. Exchange, The Washington Stock Exchange opened today with the sale of $13.500 Capital Traction 5s at 94, in six differ- ent transactions. The only other bonds s0ld were small denominations of Wash- ington Gas 6s, series B, at 103'5. Capital Traction stock opened with two 50-share sales and 15 shares selling at 74%. Later 10 shares changed hands at 745, Potomac Electric Power 5% per cent preferred moved at 108. Norfolk & Washington Steamboat hts opened at 17!, and later sold at 37% 231 Adams Exp (1.60)... 73 324 Adams Millis (2). 115 Advance Rumley. 22 Advance Rumley p! 1 Ahumada Lead. 118 Alr Reduction (3)... 21 Afr Way TI Ap(2%4). 1% Ajax Rubber........ 61 Alaska Juneau . 81 Albany Wrap Paper. 23 Allegheny Corp. .... 95' Alleg C pf 830w (514) 57 -Alleghany §t1(12.05) 55% Allted Ch & Dye(ns). 1 49% Allis-Chalmers (3).. 5 18 Amerada Corp (2)... 1 54 Am Agricul Chem... 26 Am Agricul Chpf... 7 Am Bank Note (13). 2 7 Am Beet Sugar...... 34 Am Bosch Magneto. . 45' Am Brake Shoe(2.40) 118% Am Br Sh & F pf (7). 40s 8% Am Brown Bov Elec. 43 ¢ 117% Am Can (4)......... 181 Am Canpf(7).....0 Am Car & Fdy (8)... Am Car & Fdy pf(7). Am Chain Co (3).... Am Chain pf (7)..... Am Chicle (12%) Am Com Alcon1.60) Am European Secur., Am & Forn Power. ., Am&Forn Pwr 2d pf. Am Hawatlan SS (2) Am Home Prod(4.20) Am loe Co (14).. Am Internatl (2).... Ant La Fr & Foamite Am Locomotive (8).. Am Locomot pf (7). Am Nat Gas pt (1) Am Piano Am Piano pf. Am Pwr & Lt : AmP&LDpLA (3%). Am Pwr & Lt pf (6). Am®P&LL pt A st(5), Am Ra&Std San 1% . Am Republics. ..... Am Rolling Mill(n2) Am Safety Razor(5). Am Sm & Ref (4) Am Snuff pf (6). Am Solv & Chem Am Sol&Ch cv pf(3). Am Steel Fdy (3) o » o 8 rwaZannnEabuconn~ Am Tobacco B (8)... Am Type Fdry (8). Am Type Fdy pt (7). Am Water Wks (n1) Am Woolen Am Woolen pf. Am Writ Paper etf: AmZinc Ld & Sm Anaconda Cop (7). Anchor Cap (2.40).., Andes Copper (3).,.. Archer-Dan-M (2), 1082 Archer-Dan pf (7). 1 74'% Armour of Del pf (1), 5% Armour of 11l (A). Armour of 111 (B). Armour of Il pf (1 i Arnold Constable. Artloom (2)... Asso Appl Ind (4), Asso Dry G (2%) Atch To & S Fe (10). Atch To & SF pf (). Atl Coast Line (110, At Gulf&W I pf (5). Atl Refining (12) 4 Atlas Stores (n1) Auburn Auto (i4) Aust Nich prpA. .. Auto-Strop Saf R(3) Aviation Corp of Del Baldwin Loco (1%). Baldwin Loco pt (7) Balte & Ohlo (7).... Balto & Ohlo pf (4).. Bang & Aroos (3%). Bang & Aroos pt (7). Barnsdall, A (2).... Bayuk Cgr 1st pf (7). B'trice Cream pf (7). Belding-Hemingway Bendix Aviation (2), Best & Co (2) .o Bethlehem Steel (6). Bethlehem Stl pf (7) Bohn Al & Brass (3). Borden Co (k3) Borg Warner (4) 4 Briggs Mfg Co. British Empire Steel British Em S 1st pf British Em Stl 2d pf. Brockway Motor Trk Bklyn-Manhat (4)... Bklyn Man Tr pf Brooklyn & Queens Bklyn Union Gas (5) Brown Shoe pf (7). Bucyrus (1)... Buecyruscv pf (23). Budd (E G) (1) Budd Wheel (1). Bullard Co (1.60) Bulova Wateh (3). Burr Add Mch (1), Bush Termnl (2% ) 4« Bush T Bld pf (7). Butte Cop & Z (50 Byers (A M). Calif Packing (4) Callaahan Zinc & Ld. Calumet & Aris (6) Calumet&Hec(ad3%). Canada Dry G A (5). Canadian Pacifio(10) Can Pacific(new)w.1. i Case (JI) (6)....., Catrplillar Tra(133%4) Celotex pf (7) . Cent Aguirre As1%. Century Rib Mill; ed Prod. Checker Cab (4.20) h Ohle (10) Chi Mil StP & Pac pf. Chicago & N W (5) Chi R1& Pac (7).... ChiR 1& Pac pf (6). Chi R 1& Pac ot (7). Childs Co (2.40)..... 4 Chrysler Corp (3)... 30 80 3014 18% 18% 33 38% LW § 145% 5% 2814 13 7 13 1091 82 104% Cudahy Packing (4). Curtis Publish pf(7) Curtiss Wright Corp Curt Wright Corp A Cutler-Hammer(3%) ¢ Delaware & Hud (9). Del Lack & Wn (17). Denver & RG W pf.. Detroit Edison (3).. Detroit & Mack pf. Diamond Match (8). Dome Mines (1)..... Drug Corporatn (4). Duluth S S & Atl.... Duluth Superfor Dunhill Intl (34).... Du Pont de N (14.70) 30 Dupont deN db pf(6) 4 Eastn Roll Mill(h12) 1 Eastman Kodak (18) 150 Eaton Axle &S (3)., 2 Eitington-Schild Elec Auto Lite (6) 19 El Auto-Lite pf (1)..120s El Pwr & Lt pf (7).. Elec Storage Bat (5) Endicott-John (5)... 4 Eng Pub Serv (31) Eng Pub Sve of (5 Eng Pub Sve pf (6% Equitable Bldg (2% Erfe R R 18t pf ( Erie RR 2d pf (4)... Eureka Carp Cl (4).. « Evans Auto Ldg 2%. Fairbanks Co pf..... 60s Fairbanks Morse (3) 53 Fash Pk Asso pf (7). 40s Fed Lt & Tre (11%). Fed Wat S, A (e2.40) 11 Federated Dept Strs. ¢ Fid Pho Fire 1(2.60). Filine’s pt (6% ) Firestone T&R(1.60) 2 Nat Strs (23%). 32 b . i 5t pi Rub 1st pf ey Foster Wheeler (3. Foundation Co. . Fourth Natl Invest. . Fox Film (A) (4)... 183 Freeport, Tex (15).. 18! Gardner Motor. Gen Am’Investors. .. Gen Am Tnk Car(34) Gen Asphalt (4 Gen Baking pf (8 Gen Bronze (2) Gen Cable s Gen Cable (A) (4)... 4 Gen Cigar (4). 2! Gen Cigar pf (7) Gen Electric (1.60)., 425 Gen Elec spec (60c). 1 Gen Food Corp (3)... 78 Gen Gas&E (A) new. 41 Gen G&El cv pf(6) 1 GenG&EIPtA (1), 108 Gen Motors (13.30).. 400 Gen Motors pf (7)... 18 Gent Out Adv (2).... 1 Gen Out Adv(A) (4). 1 Gen Printg Ink(23%). Gen PublicSve (b6).. Gen Ry Signal (5)... 36 Gen Ry Signal pt (6) 10s 4 i Gen Realty & Util. Gen Refrac (14%)... 6 Gen Theat Equip vte. 133 Gillette Saf Raz(nb). 19 Gimbel Bros. 11 Glidden Co (h2). Glidden pr pf (7) Gobel (Adolf). . ..ss. % Gold Dust (2%)..... 1 Goodrich (BF) (4).. Goodrich (BF) pt (1) Goodyear Tire (6)... ' Gotham Silk H (3%) Gould Coupler. ..., Graham-Paige Granby Copper (8) Grand Silver Stra(1) Grand Unfon........ Grand Union pt (3).. Grant (WT) (1) Grt North pt (5. Grt North pf et Grigsby Grunow Guantanamo Suga: & North Steel (4) Hackensack W (1%) Hackensk W pf(1%). Helme (Geo H) (17). Hercules Powder (3) Hershey Ch pr pf(6) . Hocking Val (10)... Holland Fur (et2%). Houdaille Her B(2).. Househld Fi pf 1315 Houston O1l (b10%) . Howe Sound (14%).. Hud&Man Ry (3.50). Hudson Motor (5). Hupp Motor Car (). Illinots Central (1).. Independ Ol & G(3). Ind Motor Cye! Ind Motor Cycle pf. Indian Refining. Indian Refining rot Indus Ray (b5 % stk) Ingersoli-Rand (16). Inspiration Cop (4).. Insurance Sh (46¢). . Interbor Rap T c.0.d. 4 Intl Agricultural Intl Bus Mach (! Intl Hydro E1 A (e3) 106 Intl Match pt (4).... 7 Intl Mer Marine (1). 8 Intl Niekl of Can(1). 243 Intl Nick. Can p£(7). 1 Intl Pap & P (A)2.40. 3 Intl Pap & Pwr (B) 1 intl Pap & Pwr (C) 4 Intl Pap&Pwr pt (7). 1 ¢ [otl Print Ink pf (6). 20s Intl Rwys Cent Am.. B0s Intl Salt (6). Early Hesitancy—Lead- ers Strong. BY CLAUDE A. JAGGER, Associated Press Financial Editor, NEW YORK, May 14—The stock market continued to struggle forward rather feebly today, with professional operators turning their attention to the rails and some of the leading indus- trials, Oils and some of the utilities, which were urged upward yesterday, were permitted to lag until after mid- day, when renewed strength appearsd in"those groups. Trading was slightly more active than during the previous . | Session, but the public remained apathetic. The movement in the rails was aided by & more favorable weekly report of " | freight-car loadings than has been re- | ceived of late, although it held to the low levels of 1924. Reports of April rail- way net operating income will begin to appear shortly, and are expected to show little or no improvement over March, but Wall Street is hopeful that the downward movement has been arrested. Loadings as reported for the week ended 7, | May 3 totaled 942,899 cars, 35,725 more 0% 22% 444 B3, 48 % than the previous week, but 109,836 less than the like week of 1929. The weekly steel trade reviews re- ported a further falling off in steel mill operations and substantial price 1edu tions, but it was reported in trade cir- cles that large producers are determined to support prices at current levels. Iron Age stated that Columbia Gas is going ahead with plans to build a 400-mile gas line from West Virginia flelds to | Washington and Baltimore, and this strengthened the belief that a large ! Eastern natural gas merger is in the making. Radio was pushed forward, despite the filing of anti-trust proceedings by the Department of Justice, and United States Steel sold up moderately to the best levels for the recovery. Shares gaining three or more points included New York Central, Atchison, Missouri Pacific, Lackawanna, Texas & Pacific, Eastman Kodak, Americun Can, West- inghouse Electric, Vanadium and Worthington Pump, Some of the comparatively inactive rails made wide s, Hocking Valley and New York and Harlem gaining about 20 points. ‘There was considerable profit taking in various groups during the morning. The coppers turned downward, as the Tecent covering movement appeared to have been completed. The American ‘Tobacco lssues and Columbia Gas also sagged for a time. International Salt, | which has had a spectacular rise, fell back more than 16 points. J. I Case, after an early rise, sagged under realizing. - Credit conditions remained stationary, with call money holding at 3 per cent. There was better demand for bankers’ acceptances, but rates were unchanged. NATURAL GAS LINES EXPANDED RAPIDLY Southwest Benefits by Increased Distribution of Fuel—Projects Under Way. BY BENNETT WOLFE, Assoclated Press Staft Writer. TULSA, Okla., May 14.—An ever-wid- ening network of natural gas transmis- sion lines in the Southwest, some already more than 400 miles in length, gives promise of becoming the nucleus of a distribution system that may eventually carry fuel to the entire nation. Pipe lines in operation today have accelerated greatly the movement of gas to market from the producing area comprising Oklahoma, Texas, Louis- iana, Arkansas and Kansas. Their part | has been an important one in the reju- venation of the natural gas industry fol- lowing the setback given it in 1921 by declines in the production of West Virginia and Pennsylvania. At that time the presence of gas in huge quantities in the southwest was unknown. Plans already are under way for the piping of gas from Texas to Chicago and possibly to New York. Several com- panies are associated in a project, now in the hands of engineers, calling for a 950-mile gas pipe line from the Texas Panhandle to Chicago where the ga would be distributed by the Insull in- terests. Among projects under construction is & 400-mile line being built by the Mis- souri Valley Gas Co. of Omaha, Nebr., from the Hugoton Gas fleld in Stevens County, Kans, to Omaha. Gas now is being carried by pipeline from the Mid- continent Flelds to St. Louis, Kansas City, Memphis, Birmingham and At- lanta. ‘The possibility that the entire United States shortly will be enjoing the vantages of natural gas, which has a much higher heat content than artificial or manufactured gas, is a pleasing pros- pect not only to the natural gas industry but to the Southwest as well. For such a growth is certain to be rooted in the Southwest, because of its potentmlities as a gas producing region. QUIET DEMAND [N U. S. MACHINERY MARKETS Quiet conditions rule in machinery and machine-tool markets throughout the country, American Machinist re- ports. Orders for replacement pur- poses comprise the bulk of transactions reported in the past week. Used-tool demand shows improvement, but the volume of incoming induiries is off, ‘While New York and Detroit mu chinery markets are spotty and inclined to duliness, both show a better under- tone. Bookings are scarce and, from present indications, there is no pros- pect of any unusual buying in the im- mediate future. Used-tools are in bet- ter demand in the New York market., . Huge Losses Through Waste in Distribution. Special Dispatch to The Star. DALLAS, Tex., May 14.—Inefficient distribution has cost the people of the United States enough since the war to pay off the national debt, Dr. Stephen 1. Miller, executive manager of the Na- tional Association of Credit Men, told delegates to the annual convention of ' the association here. “Bankruptcies have caused a loss of over $5,000,000,000 in the last decade, and that represents only part of the waste of inefficient distribution,” Dr. Miller said. Retail Stores Increase. “Retall stores have multiplied by thousands, and the average life of these stores has been short. There has been a constant stream of men bringing their small savings to the altar of merchan- dising ambition. Without a knowledge of accounts, buying, advertising, mark- up, turnover, credits, collections and service to customers, they have cut down the average volume of business per store, thereby increasing costs of dis- tribution and prices to consumers. Handicapped by the lack of business understanding and strangled by compe- tition, they have constituted an un- broken business death march. The cost to the public of being ‘over-merchan- dised,’ added to the cost of bankrupt- cles, has probably amounted to enough during the years since the war to pay off the national debt. “The competition of chain stores has undoubtedly hurried many a retailer into bankruptey. On the other hand. the chains have introduced far-reaching economi stimulated adaptation and brought about greater co-operation be- tween wholesaler and retailer. “It might be well to bring to the chain-store enthusiast & warning taken from the experience of business admin- istration. Stretch out & series of busi- ness uits from East to West, from North to South, and observe the neutralization of economy as the system becomes com- plex and far flung. “Retailing is essentially & service. ‘The merchant is & host, the customer a guest. Success in a store depends upon consideration of detail and a human equation closely bound up with owner- ship. The large-scale farmer has never put the small farmer out of business. I predict a profitable future for both the farmer and the independent retailer who observe the economies of the day.” Duty of Credit Managers. Dr. Miller said that the responsibility for screening out the ill-equipped and inefficient retailers with no real chance for success rests upon the credit man- agers of manufacturers and wholesalers who give them the credit backing nec- essary to establish their short-lived stores. He condemned the loose credit practices resulting from competition and the craze for volume. “No nation is rich enough to carry an annual bad debt loss of close to $1,000,- 000,000,” he said. “When competition takes the form of lax credit practices, the resulting losses cannot be com- puted merely in terms of dollars, for wholesale repudiation of obligations in- volves -a loss in national character and integrity. If credit grahtors continue to set up weak and inefficient retailers, they will slowly dimini*h the buying power of the public t'::ough waste and increased cost.” e Canadian-Pacific Railway. NEW YORK, May 14 (#).—The New York Stock Exchange has admitted to dealing Canadian Pacific Railway Co., ordinary capital stock, $25 par value, when _issued. Real Estate Loans Made Linkins Co. Money to Loan S revaliing. interest ana commisnion: Joseph I Weller 4,72 . & Tros REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD Real Estate JAMES Y, PENNEBAKER Nat.5201 1520K St. N.W. IGH RATE OF INCOME GREATEST SECURITY ANNUITIES Cash Refund—Joint—Deferred Sena for Information LEROY GOFF INSURANCE—ALL BRANCHES 1036 Woodward Bide. Nat. 0340 First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. MOTT MOTORS, Inc. “HUPMOBILE!” Save Systematically! The Equitable plan encourages thrift and systematic saving. Start now while $2.50 PER you are earning and save consistently for SHARE financial independence. Come in today and let us explain OUR methods. 915 F St. N.W. Select the Best N considering the question of financ- ing your home you numrany want to select the plan best suited to your needs. As a result of its experience throug}wut the United States the Metropolitan Life Insurance Com- pany developed its present plan for home financing. Consult EAVER BR W rtexl.‘r?)?sos 809 15th St. N.W, District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company IRS MORTGAGES A GOOD USE FOR SURPLUS FUNDS It’s a satisfaction to feel that your money is at work—safely secured and making profitable returns. . That's the experience of every investor in our 6% FIRST MORTGAGES You don’t have to give any concern as to principal or inter- est. One is insured by conserv- atively appraised real estate; the other definitely fixed throughout the life of the mortgage. May be purchased in amounts from $250 up — upon our con- venient Partial Payment Plan if you wish. B. F. SAUL CO. National 2100 925 15th St. NN\W. Over a Third of a Century W ithout a Loss THERE IS NO SUBSTITUTE FOR SAFETY Capital & Surplus $3,500,000.00 ' Deposits invited in any amount. Open Until 5:30 P.M. City Ice&F (k3.60) City Stores (5 City Stores A ) Clark Equipment (3. :‘7'%. 171 and 17 in a good-sized turn- ‘553'1;?- over. Commercial National Bank sold st 235, and Continental Trust at 125. Merchants Transfer & Storage, pre- ferved, registered 100'5. 1 . Both type stocks were out, Lanston| g7 5 g > selling at 124 and 124, and Mergen- Atkman, 16 thaler changing hands at 107. It was e P announced that the Exchange will be Go)iOue) & Iron i3y, 1% closed Saturday. beginning on May 17 Golo'k Eow 1e0 vt (81008 and opening again on October 4. 69 5 Gleaned in Financial Distriet. 104% Col Gas & El pf A(6) 23% Colum Graph((a87e) Earlier closing hours for Washington banks during the Summer season Was S IECNES §18) taken yesterday by the District Bankers' Association council of administration and referred back to_the special com- mittee of which John Poole, president of the Federal-American National Bank, 8 chairman. It is hoped that the as- seciation will reach some definite deci- sion in the matter by June 1 John D. Motherhshed has been placed in charge of the local office of Fenner & Beane. He succeeds John McLean, who as been transferred to t. Louis: rge 9 arrett, resident partner of F. B, Keech 4 Co, will leave here el LTI tomarrow for Louisvilié to witness. the rerap e EHDIS Kentucky Derby. 'W. Chapman, chairman of the b o i 14 board of the United States Lines, is in 13 CoRebt TR Y Washington for a few days’ stay. e 0, Th~ Chesapeake & Potomac Tele- VSRt SRNInE (A) % Liguid Carbonte (4). 7 hone Co. of Virginia has asked the & SEALNRIIRR (B) y Loew's, Ine (3).. 3 “Interstate Commerce Commission for| 47 T8 Contl Baking of (8). / Loew’s. Inc pf (6 authority to take over the Petersburg ) . Loew's pf xw 16 ) Telephone Co. by stock purchase. i ¢ Loft Inc. % W Lioose- Wil Intl Silver (18) E 4 Intl Tel & Telex 281 66% Inter Dept Strs (2) 7 29% Investors Equity(2). Jewel Tea (1 Johns-Manville (3) Jones & Laugh pf(7) 20s Jordan Motor Car... 1 K CP&L 1st pt B(6). 10s Kan City Sou (6).. 7 Kan City Sou pf (4). Kayser Julius (4). Hayes (1) METAL MARKET. RO oo S RO Better Used Cars steady; electrolytic, spot and future, 13. Earned Savings Iron quiet; unchanged. Tin firm; spot 1520 14th St. N.W. and nearby, 33.20; future, 33.37. Lead —are lost annually in get-rich-quick steady; spot, New York, 5.60; East St. 5 Touls, 550, zine steady’, East St. Louis, DECATIR 0 schemes and fraudulent stocks, according to reliable statistics. spot and future, 4.65. Antimony, 7.50. NEW STOCK AUTHORIZED. NEW YORK. May 14 (#).—Directors of the Twin States Natural Gas C have authorized the issuance of 40,000 additional shares of no-par common, to be offered to holders of participating class A stock of $6 a share on the of two shares of common for each five shares of class A held of record May 2. Sl DIVIDENDS DECLARED Lambert Co (8)..... 18 NEW YORK, May 14 (#).— Leh Port Cem (2%). 8 % o | i :e:-f s or Lehigh Valley Coal. . 12 B 67 f 2 Rate. d. able. AmBra Con 16t p $180"'Q June 1 May 18 0 BUILDING Lenigh Valley(14%) & tion 1. 1 o s+ ong l% Am Chain Pd pl..zli'lfi Q June30 June 30 LOANS or Lehn & Fink (3).... Libbey Owens (1)... IMPROVED NpXASDew 0P PROPERTY v sl reeaie v | || National Savings & Trust Co. Lige & Myers B(1E). 28 110 Prompt Action 64th Oldest Savings Institution in the District of Columbia v il | B. F. SAUL CO. Year Cor. 15th and New York Ave. {[Your surplus dollars are absolutely safe when invested in a savings account, in a strong, old, interest-paying bank, like bt Pt Comm Craait 15 National Savings.” Comm Cred pt B (2). Comm Cred pf (1%). Comm Inv Trig1.60) Com Inv T ev pf(e§) Comm Solvents (11) Comwlth & Sou(60e) Cmwlth & Sou pf «6) Congoleum-Nairn Consol Cigar (1) s Consol Film (2), Mortgage Money Same Rate of Interest Paid on Large and Small Accounts. o s PRECTORS LAMBORN. E. PERCIVAL WILSON FR. R ER. ‘Wi ontl Dia Fibre (3).. 8., Cont nkar (340). Okl Gas & B b 1% '« Contl Motors. F 1 3 % 1'25 195 Contl Oil of Del ) Teon ‘con & Ctier. 45¢ 27% Conti Shares (1), 7 12 1 10 it & 8714 Corn Prod (13% ; N 3 2434 Coty. Inc (k2). 38% Lou 4% 45 eie 251 Cream of Wht( g 33 33 —— e b o $1.00 .. June 3 May 9 CrexCarpet......%.. 1 16% 16% 16k 48 Inter walale o RWF 1 NRR English literature until the middle of the fourteenth century was chiefly com- 'd of homilies in prose and verse, '»J'E:t;flplinns from Latin and French, tre lations from the Bible or pious emmies based on the lives of the saints. 000000 DOOOOOOOOD: June 3 May 35 925 15th Nat'l 2100