Evening Star Newspaper, May 15, 1930, Page 13

FINANCIAL. . WASHINGTO! THURSDAY, MAY 15, 1930. : FINANCIAL PRICES ARE STEADY NEW YORK STOCK EXCHANGE. ISTOCKS ARE LOWER |szeseeios A | ™y B Lot | [ REAL ESTATE LOANS Courtland Nizon, 1518 K S¢t. N.W. Nat. 1926 TYLER & RUTHERFORD UND fl [XBHANGE excepiine~thowe mufi;';_;:;“: gfl;‘mm;#‘:‘: Sa% mn. 1o, % lN EAR‘.Y DEA“NGS TRUSTEED SHAREE |l : SRR 14% 6% Curtiss WrightCorp 80 11% & & ‘Prevaill # 1520 K St. N.W. National 0475 m shows those stocks to be sold in odd 19% -13% Curt Wright Corp A~ the IDEAL INVESTMENT for in T ni m ~Prev. 1930.~ Stock and Sales— Capital Traction Is Firm in| VT ami e a3 0 T 2| 50t 22 Devemnamsaisii. 8 P! Small Turnover—Steam- | 3:* 3* Atamesimue s 15 31 boat Co. Rights Traded. | i 150% 36 & STM] 15 5 18 z Ho demand — Sarery || . 3% = YIELD 'a'on%‘ of u?rmun-n. Joseph I Welle T '"','. Market Fails to Hold as||f $ecwils ™ Badiific™ funds and fund: tions. i i Sold in Lots—$100.00 Up Leaders Fail to Find b ey Support. g{,‘_‘:,::“};f,;’::f{:,! GROWTH IS THE KEY TO INVESTMENT PROFITS ‘Ajax Rubber. Dom Stores ($1.30) e L b Met. 8753 Extracting 47.1% of growth from a 2.1% average by BY EDWARD C. STONE. % A Drug Corporatn (4).. j BY CLAUDE A. JAGGER, scientific diversification during 1929. American Insur- 3 Duluth Superior pf.. 10s Associated Press Pinanclal Editor. h h ' d F th. w:;mmg utlu:.mvn:cm u’: . g oo b N - “l NEW YORK, May 15—Stock prices s anstocks Corp., using their ela:pert no:e ge :I - xchange today. o Y% C pt 830w 4 4 4 = in unusually calm seas i rowt ossible to _ small-lot trading in Capital Traction Alleg C pf 340w 5% ) 9 Dupont deN abote@) ¢ A O ENTERPRISE SERIAL insurance business, made this g P the stock opened at 7415 and closed at A e e koo S . oy Provide _remewed buoyancy, and_the BUILDING ASSOCIATION investors. PAN. FUR A RS ac e Allis-Chaimera (3) Eastn Roll Milltht2) . . ?:bafinl‘;;m:‘rfizd:p:&}:t&xrkeiwu pro- 7th.St. & La. Ave. N.W. A lecflet (K-3) giving de&mled information of this remarkable Wlshlnfwn Railway & Electric pre- Alpha Port Cemt (3). Eaton Axle & S (3).. 9 3 vided, broke sharply, but feading shares record is available. + . Send for your copy. ferred at 993, District National Amerada Corp (2). Elec Auto Lige (6)... 34 93% oz | e O e e s potats 64th Issue of Stock Now Open Securities preferred 1n‘:ar: ang Mergen- Am'Agricul Chem..s El Auto-Lite f (1) 203 109% 103% 109 or so. for Subscription aler ype af an 9 Am Bank Note ( ectric Boat. ee One hundred shares of National Am Beet SURAT.....s El Pwr & Lt (1) 368 i Neither long or short positions in the Mo 1343 2721-2 l H Street " market have worked out very profitably Mortgage & Investment preferred came Am Bosch Magneto. . ElPwraLiot (Y. 2 y D o e I o Money loaned to members on await developments sufficiently definite easy monthly payments Eng Pub Sve of (91 '8 5 “l to be used as a starting point for a Y IApeI Eng Pub Sve pf(5%4) 9 215 | new move. ~With moderate signs of (| yames E. Connelly James F. Shea Equitable Bldg (2%) 22 improvement in freight traffic, retail Presidens Seoretary 1% Erfe R R 5 i » trade, and bank clearings, bears have Erie RR1StDf (4).r 2 . 63 been cautious, but bulls have failed to Eureka Carp Q1 (4. 18 4 attract any notable following in bidding % Evans Auto Ldg 2%. 3 5% | up_stocks. = 3 Speculative attention was focused on . Exchange Buf (1%). 20 ; | the Pederal Reserve brokerage loan and First Mortgage Notes 12 l;:;;::z:::g«; pf..... 9,?; 7| condition statements, to appear aiter | = the close of the market, and this also Snyder Heads Underwriters. Am Hide & Lea pf... 521 Fea WatS Aceiioy | 4 L s e Bt chect FOR SALE At the annual meeting of the board of | ¢z Am Home Prod (4.20) 25" Fedurated Dept Strs. ; 51 | was the redction of the Americon Taco:|| In Denominations of $250 : directors of the Di.strlr: f; i 35% AmlceCo (14)....0. 65 Fid Pho Fire 1(2.60). % T motive annual dividend rate from $8 to e ear Oans Life Underwriters Association the 3 AmIce pt (6) 7 Fifth Ave Bus (64c). 9 |84, but this had been so generally ex- and Upwards M d { ! Jowing officers were clected for the com=| §5% 35% Am Internatl (3). : 92 Fillne's pt (6%). ... g .1 pected that. it was without reflection in | Ll . ing year: Am LaFr & Foam pf. i & g ident, John H. Snyder, Mutual ‘Am Locomotive (8) s e e Ehe market. - Standard OIl of New Jer: Charaes On Improved Benefit of New Jersey: vice president, 3 Am Locomot pf (7).« - y HE e kL - 3| sey's annual report, showing $4.75 a | ; Paul D. Sleeper, Aetna Life Insurance Am Mach & Fdy (1) 23" FGK Rubber 18t oE. s ‘l,l";'nre Spates ;::;éx:cxggg and fi‘.“:‘fii JAMES F. SHEA | % Real Estate 0.; second vice president, thp L. 9% Am Metal (3).. 2 % 60% Foster Wheeler (2) .e " isi g % .ee 8 Fourth Natl Invest. Y Mutual; treasurer, George B. Farquhat, i 16% Fox Film (A) (43 51 e ggs;’;;s‘;“‘fif';‘m‘j";"e‘; -~ — e Nearby Montgomery Penn Mutual Life. Am Pwr & Lt pf (6).. 04% 104% 381 Freeport. Tex (16).. 4 rumors of mew algaments.. United A i - Count and th > The directors include: H. D. Krafft, Am P&L pf A st(5). ; g % 5% Gabriel Snub(A)new o N i Immediate Funds Available i y G o% Corporation was sal b ! John L. McElfresh, John F. Cremen, J. Am Ra&Std San 1% 8% ‘Ducaner Moser. . 4 cven more atieactive oer for & cier District of Columbia B. McCombs and John P. Lynch. Am Republies. .... 2 A h 993 Gen A: 4 " . - The new president, John H. Snyder, Am Rolling Mill (n2) 290 Gon Amphate :::.ru 2 1 G s v Sunyinetons First Mortgage Loans ) ON has been interested in the insurance Am Safety Razor(5). % A 4 2515 Gen Bronze (3).. Unitod States Bb K business for 25 years. He is held in| 3 9G93 1713 Gen Cable 2 e b s o elee tirou: I . Low I % . e course of the afternoon, mproved Properties . owest Interest high regard by all members of the in- 9 51 Gen Cable (A) (4) 1 e Gutios b Adme b " i | The ways and means are surance fraternity in Washington. The 391, 3 3 314 J 3 reans Underwriters Asz)cunon Tooks forward ‘ 9 o 2 ?‘1’». g:: 5%25‘.’.’,’;3‘(.’.72) ~ checked, the stock snapping back from 3 to 5 Years—Interest 6% various and varied. But if you Rates ; the Jow of 158 to above 165. Compar- | Payable Semi-Annuall | : T to a year of continued growth under his 4614 Gen Food Corp (3). .1 9 atively little stock changed hands in | mmm’" o irgaisenursy gor, OY wish to obtain a real estate k.m"mxum is the retiring president. ) Z % }t;: g:: gi's’x'c::r"':';' 1 90% 9 ou. " | the entire list during the various selling and curtailment demangs by apply- loan with the minimum of BOSS .01 PHELFS Under his leadership the association has o y 11 104 GenG & ElpfA (1). eSS LR R T i delay and anxicty, there is e ‘enjo; an unusually successful year. 9 9 9 totaled only about 2,600,000 shares. v ' . c dent 5 P : (| S dnrs =0 " However, the bears were encouraged by (| Showalter Realty Co. only one way to go about it— Jon“HunCoctHiyivar Lite Anacostia Bank Elects Officers, : o o { ; the absence of recuperative power shown i e e o The annual meeting of the stockhold-| 263 ’ 1“: 1175 Gom Motora pe (1) Tt 1312 1964 | by the principal industrials. J. I. Case || Logn, Corresnandent of the Ewreka |/§ DUt o marem 1417 K St. National 9300 ers of the Anacostia Bank was held yes- ; Do bt i LA G+ s 15% showed a loss of 15 points in the final o terday, with President Maurice Otter-| 263 2 38% Gen Printg Ink(234). hour. The close was weak 924 17th St. NW. back in the chair. Mr. Otterback re- A 32% Gen PublicSve (b6) 57 5 5 —_— Nat. 4123 Jorted that deposite in the bank have Am Tobacco pf (6). : 5% Gen Ry Signal (5). e o s I e T . . i 12: NEW LIFE INSURANCE St o | e 1 3 o ety | CONTINUES ADVANCE | First Mortgage Loan Vagrant Waves Glidden pr pf (7).... A 1. . pplications Dome Mines (1) o 8 7 L] 1 [ 1 1 0 1 2 * out at 45 and 40 shares of Real Esfate Am’Brake Shoe(2.40) Mortgage & Guaranty preferred moved Am Brown Bov Elec. at 7. . Am Can (4).. The closing sale was in Norfolk & Am Canpt (7). Wachington Stegmboat Co. rights. In Am Car & Fay (6). light trading v.h”e rights, which have Am Car & Fay pf(1). recently attracted considerable atten- 54 Am Chain Co 13). tlon, sold at 17%4. a1 1% Am Com Alco(n1.60) Bonds were neglected, $2,0000 and $500 % Am Encaustic (2) Capital Traction 5s selling at 94% and Am European Secur 31000 Potomac Electric Power 6s at 5 Am & Forn Power 108%. Am & For Pwr pf(7). Am Hawallan SS (2). 9 B = NDANNNRABRTLRaNBBBINRN R RN o E ‘They are: Mr. Otterback, “ Y Gimbel Bros. — prslden!.' 8. A 4 W&C Glidden Co (2).44 5% pe . president; J. Frank cnmpbeu. second X . 3 Gobel (Adolf). v | April Returns Show Gain of 6.4/ mpvfidewfl:v L. m’&. d i Y S:L'hfi;‘;"fi%’m.. Per Cent Over Like Period il Invited at HE . world is too small for eashier; Alfred W. Pohl, assistant cash- Y Goodyear Tire (5)... (2% 8 g in 1929, vagrant radio waves, engineers fer; George C. Gertman, counsel. Di- . i 3 Goodyear 1st pf (7).. g AR 5 1 7 i have found. Some short-wave signals ew e insurance urchases last . . month exceeded those olpAprfl last year 2 (¢] | traveling 186,000 miles a second go Tectors are J. Frank Campbell, Charles Ayl e g i e around the world three times before W. Warden, A. E. Gude, George S. King, S. A. Manuel, Joseph J. Mundel, Artloom (2) uary this: year has shown a steadily nstruction Lo'n 2 mounting increase over the correspond- Const ' .they settle down. And settle down over February last was 3.1 per cent, I they must before they can serve a Maurice Otterback, L. W. ‘Thorapson, Asso Appl L Robert Thom m%momh of 1929. In February the vhfle the March figures rose 4.5 per cent above those of March a year -:o‘.)e 1 Glover Q Flat}xcr | useful purpose. ‘These facts are indicated by a report of the Association of Life Insurance 1508 H St. N.W. » Atl Coast Line (110). steady growth and expansion and Q:g % At Refining (12) 19 Grt North of ct (5). Atlas Stores (n1) s GtNetfsO P (a3%). m‘""b‘c“‘-}'}dflm and occupancy of s fine Auburn Auto (14) 6. Grt West Sug (2.80; Aust Nich prpf A - e 7 7 4 Grigsby Grunow. 6 Lanston mvn High Rating. ::::‘8.:'0 ir;: ;:‘:::, ? 3 v Gulf Mo & N pf (6, Presidents, comprising 44 member com- Lanston Monotypt stock is the sub- Guif Scates Btesl (4 panies, which have 82 per cent of the s The problem confronting engineers O ADOTIAY i )ll‘l‘t senit gt :"“m CIUSEIL: 2 Hackensk W p£(1%). total volume of life insurance outstand- National 1753 R pro i i g 4 g h Standard Statistics, New York. The aldwin Loco (1%) Y Hackensk pf A(1%) ing in all United States legal reserve in bringing radio waves to eart Hahn Dept Stores. .. 9 com| es. eV ".ock. which is very "?‘5{,"‘” lnuuy. agh s HARBROE M) e o6 % rmpm 1 otatiatin: D of seems small, however, compared to Har Wkr Ret (12%). 5 674 | all classes written by the 44 companies g m{,‘,’ Ym‘:'#r"’“ & upward y ) Hartman (A) (2) 3 was $1,194,174,000, against $1,122,303,000 .the S s problem o.f, curb- E during April of 1929, a gain of 6.4 per . ing vagrant spending. Yet it’s not Bayuk Cgr 1st pf( 9 % Boa; % | cent. New ordinary insurance amount- | p - ©_67% Beatrice Cream (4)., 7 5 A 7 80 ed to $839,531,000, against $793,786,000. + 3 3 until WE settle down that the world, 105% 101% B'trice Cream pf (7).« 23 Industrial insurance amounted to $241,- | hich oft dot 1l best §1% 324 Bendix Aviation ) 44 0" Hocking var (10) - 108 468~ 403 L e oo, wencims 1o || 1800 it b b % [ocking Val (. surance was 5 | , &l = i i 56% 31% Best& Co (1) £ 41 Holland Fur (et2 9 238,000, . to yield its harvest. 1104 91% Bethlehem Steel (6). 9 9 Hollander Sons. b For the first four months the total 134 1224 Bethlehem §ti pt ¢7) a1 Houdaille Her B . 2% | new. business of these companies was LEX Househld i pt 1314 $4,415,031,000, against $4,280,710,000 : Houston Oil (b10%. Tt par. ' Now® ovdlukvy As an aid to settling down with a 1 nce Howe Sound (14%) amountedd | to $3.161,656.000, against . i thvi HudsMan Ry (3.8 Rien e e BROW N 3 plan of systematic small investments Hudson Motor (5) to $936,384,000, against g we offer 6 per cent First N Hupp Motor Car (3) 79.000. Group . insurance was D F Tortgage 3 % British Em S 18t pf. 1408 0% linots Centrat (1) 3 .m,m $204,205,000. ‘4\5 SO Notes on selected - Washington prop- Brockway Motor Trk 28 20" 20% Independ Ofl & G (3 Ns erty in denominations as low as dend of 25 cents per share paid in each 63 Bklyn-Manhat (¢)... 4 o! o Sl o SRR E Indian Renmine, RECORD COPPER TONNAGE $100. Backed by their record of 61 IS SOLD DURING WEEK‘ i years without loss to an investor, Bkiyn&Queens pf (4) 8 Bkiys Unien Gas ¥5) }::’:r:o Ran (15 By the Assoclated Press. these Notes today are the foundation NEW YORK, May | 15.—Domestic & - ruBossaSalacaan G G aBvnarBurEBefe nosn - :runu‘l‘ull) RyS..s }::n.;‘::o:nlgo\l:lu) of many a tidy fort n e A % Interboro Rap Tran sales of copper during the past week idy fortune. 7s sales, but volume for the Mt Sl ST Interlake iron (1). Were fhe largest weekly tonnage ever d February, 1080, was Jarger than in ¢ Buda Whes! (1, e Tt e SR [N e e Db : gimilar period tho yeA before,” the R e maspigtn e 4 N 9 | very active foreign business brought INVESTMENT sw : * Bulova Watch (3). : 0 (o INIeg PR st bo e WOl TZELL, Van Sweringen Holdings Grow, 3 BUrns Bros (B).sss e 3 196,000 tons. . SECURITIES ) 2 The buying wave, which started Wed. The van Sringn. Gorpereton. B Ade e 17 B : | T v e e | HEEM & HENSEY Co the third Van Sweringen holding com- i g o b i N W 46% Tast. Monday, just before most of the | ? pany which has ofered securities to L T ae) 2 4 92 65u ! sellers advanced the domestic quotation | 3 MORTGAGE BANKERS 000 "sharcs of Alicghany Corporstion | ,29% ] 2% e N . H e RS R C WaszincTon Orrica 727 15 STREET N.W,. common stock, the Van Sweringen Cor- 2 15th Street N. W, Mg poration i tied in with its predecessors 65% Calit Packing (9). .~ 9% 69% 69% INTEREST RATES. 737 15 o WASHINGTON D.C. e Al peak c()l’po . 4 . ATleanany! RSkt A Mo ot s 60% Calumet & Ariz (8) ¢ P ! By the Assoclated Press. Telephone, National 1053 Alleghany common shares was included 16% Calumet&Hec(ad%). Average collateral interest rates con- in the Van Sweringen Corporation col- 57% Canada Dry G A (5). Y% % ) 808 4 “4|tinue to show slight recessions, week R lateral for $30,000,000 five-year 6 per nm 187% Canadian Paclfic(10) by week. In a survey of principal mar- cent notes to provide a og of | 2% 5l% Can Pacific(new)w.i - | kets of the country, the Census Bureau Matx Orsios - Barriueas readily marketable securities, % 2% Inter D.,, Strs (3) 4 ¥ reports, for comparable periods, as fol- h?:fi:l.fl'.c:n meued dby the various Inter Dpt 8 p xw(7). 508 103 Towa: ” es and rallroad , com- d s A N Pt e Voo Beringio st | T4 %4 Shpitar ra(1i ). : : B b 0 00 G0 GYD B¥T We invi in the common stocks of Chesa- e S : ; 148% Jona-Manville = — i e invite ; *practically 4 2 £ B(S . . 50 per cent of the Nickel Plate common ; e stock and more than 35 per cent of the | 67% : : ; e i5: ; ; i appllca - gommon stocks of Erie and Kansss City s it e 2 . I for ossa s s, 11% g::grul v'ga lrnl L 5 E Keith-Albee-O pf(7). 33 leal neial 34 reat Westn pf.. 4 ¥ ‘ & 3 . 18 Chi Mil StP & Pac..« 7 We take pleasure in announcing that . President Robert N. Harper of the 1% Chl M1l StP & Pac pf, ; ) : . irst g::ngz N:wéam;o Bln'kfll: - ffi. g{ 791 Chicago & N W (5).. F X ol. Ernesf n at the Blac) 7 5 % % % 5 Major Geor: nstein Country Club at Raleigh, W. Va. H O otess 2 22| B8 : jor ge H. Bro | Mortgage Sopikine Rietaras it usinses R L arass e ‘% 103 ' : John B, Elliott, a former Washin e T 09% 109% 108 . . b aa has become associated with our organization. Loans ton newspaper man, and now vice pres. 43 5 ident and treasurer of the Jameson (50 P 6 Kresge(SS)Co(1. Petroleum Co., Los Angeles, is a visitor y 1 He Kreuger&Toll (1.34) 142 | 5 s in the local financial district. He was ) v Kroger Gr&Bak(nl)., 9 ! 4 | on rcsu]ences aml Lu.fl- very active in politics during the Wil- ; " A bert Co (8)....x A i Lenigh van . RHOADES & COMPANY ness properties in- the m dl.dmmlstnuor;“ mdh ‘;or'r: of ?\n nds now are urging run for 2 Governor of California. U ety . ‘The directors of Chevy Chase Dairy, * MEMBERS NEW YORK STOCK EXCHANGE | . District of Co]umlun 122 Inc, have declared the regular quar- Ca 4 ‘ 3 % g WILLIAM STREET NEW YORK vrl?v dividend of 13, per cent on the (3). 8 ‘ 524 1 ( z Y(? erred_stock. ‘The disbursement s ¢ 33w burbs. .. L E:ime June 1 on stock of record 76% g:mcganm (::2; 9 F F " Maey 15th, 1930 s suburbs. . . Loower costs, 1% mm C 1st xw ( ¥ . . illis K. Clark, president of the 25% Comm Solvents (11). 3% 3 Lo B T ong Term (if desired, Portland, Oreg., Stock Exchange, was 12% Comwith & Sou(60c) 4 4 L ng (f ), Lo X in the city today, after Anendln the 99 Cmwith & Sou pf (6) Y . v Investment Bankers' Association board 13% Congoleum-Nairn... 11 : : 0se- W! aluable P"’P“Y"‘"" of governors meeting at White Sul- i 42% Consol Cigar 11) [ Lorillard (P) Co.v.or 70 . [ . hur Springs, W. Va. He is vice - £ Loutsiana Ofl. . 5 9% F M Privileges . . . . T]n-ee- TR Ak , : S Senimee Ol i o 1rst ortgage Loans - ERb wvice president of the George H. x—r ] E » Ludlum Steel (2) 32 year loans on newer o AL R e e 881 Consol Gas NY pt(5) 9 8 McAnd & ¥ (12. On improved Real Estate in the District of Columbia merc! 49 Con RR Cub of (§) unimr &egnr Stores Co. of America 1 Consol Textile...... fl‘&l‘,fi‘i':,‘fn snf 6 63 and nearby Maryland and Virginia for 3, 5 or 10 920 earnings 32 cents a share on 5.- 273 Contl Baking (A)..m MeKeespt T P(14%). 21 amortizati os1s common shares, against 63| 7" "4 Contl Baking (B).... t McKesson & Roba2). 1 JESE T e s :;::! :n ;;1;;? on 5,269,170 common 252 g::::c‘:::’?:‘x:;"" | 88% ::ek(rnrmk;a)‘.n.l.’. 24 % 67% ; i g:ng'm-hh’n‘g;).. B oz Magma Cobper (£)- 8 36% Home 1/2 % Office Building WEST VIRGINIA WATER |* Bl Motors. .- j Apartment B tnaie Propieiy SERVICE CO REPORTS e A A ; 3 : H. L. Rust Company 9 Market 8t R; 2 28 . West Virginia Water Service Co, a ot Mo Motor k1) 31 Apply # 1001 Fiftcenth Street . National 8100 subsidiary of Federal WM Service 6% 3 Martin Parry.. ESTABLISHED 1889 35% 26% Creamof W\H'l")- ! 83! 61 Mathieson Alkil1 (3), 59% 43 Crown Cork & Beal, . it 116 Mathieson pf (7P.... m my, RANDALL H. HAGNER & COMPANY < 18% 15 Crown Zellerbach(1) 16% 6% £ oy MORTGAGE LOAN CORRESFONDENT 93% 76% Crucible Steel (k5). . llfi ll'l 110 Crucible Steel t (7), Ifll H!‘/l % Cubt Clna Product: % 3% 4 129 d" NEW YORK LIFE INSURANCE cgrnm 17!( ;g 16 1% 4 per ( v o cnn Amer S4g pf. C] mmmsu 7o) ) u 75% (3 1321 i . 3 u%‘ on-4 mum‘.:».uu; 20 sox 1'! % 14 7781 X 321 Connecticut Ave. . » Decatur 3600 nml nen:l)y Muylantl prapertl‘cs wirllout