Evening Star Newspaper, May 17, 1930, Page 11

FINANCIAL. FINANCIAL. = AL . NARSHISELEGTED || NEW YORK STOCK EXCHANGE ° Recelved by Private Wire Direct to The Star Office. [ As BANK DIREBIUR Notice—All stocks are sold in one hundred-share lots | —Prev. 1930.~ Stock and Bales— Prev. High. Lo Dividend Rate. Add 00. High. Low. Close. Close. P excepting these desiguated by the, lefier d&‘...,"". (385) | 52 “35% Gen DublicSve (58).. 1 45% 45% 454 45% which shows those stocks to be sold in odd o “ g ~Prev. Stock and Sales— Prev. S 3 15% 15% Hl:;l'.' I‘J;OA Dlv]::nl‘l:ln. Add 00. High. Gen Refrac (t4% N B4% 37% 234 Adams Exp (1.60)... 7 31% Gen Steel Cast pf ( 1% 15 Ahumada Lead....oe 2 % Gen Theat Equip vt 150% 118 Afr Reduction (3)... 4 144 Glllette Saf Raz(n§), b 6% Alaska Juneau. A Gimbel Bros 9 Glidden Co (2). THE EVENING STAR, WASHINGTON, D. C, SATURDAY, MAY 17, 1930. { BASIS FOR BETTER BUSINESS BUSINESS IN U. S. | | SWCKS |RREGU|-AR STRUCTURE DECLARED SOUND| CLIMBING SLO ‘l‘ A]- SHURI SESSIUN Government Officials Believe Groundwork | I;::;";:‘;m::fif: ; s for Gains Has Been Firmly Estab- ' Asserts, 13 lished in Recent Weeks. Sovat Dpen e Slr, Further Slashing of il Prices Causes Unsettlement Ohioan Joins Management of Liberty National—Institute Plans Dance. BY EDWARD C. STONE. ‘Harold N. Marsh of the law firm of Marsh & Rogers, Shoreham Building, has been elected a director in the National Bank, President ©O. Walson announces. T h e new director was born May 2, 1887, in Cleveland and received his pre- liminary education in the public schools of Dixfield, Me, and at_the Deering High School, in Portiand. He was graduated from Bowdoin Col- lege in 1909 and subsequently at- tended the law schools of Har- vard University and George Wash- ington Universif He was admitted to the bar in 1916. Harold N. Marsh. During the late war he served over- | seas as a captain in the Coast Artil-{ lerp Corps. Following his discharge in { 1919 he was for a brief period asso- | ciated with the United States Shipping Board, after which he returned to the general practice of the law, being for 8 time associated with Rufus S. Day. He is a vice president and general counsel of the Federal Storage Co., and is also a director of the Common- wealth Investment Co. Mr, Marsh is a member of the Delta Kappa Epsilon and the Phi Delta Phi fraternities, is a Mason and is active in the Washington Kiwanis Club. Institute Winding Up Year. Plans have been completed for the annual Spring dance and bridge party to be given on May 21 at the Columbia Country Club by Washington Chapter, American Institute of Banking, accord- ing to Mildred Woodcock, chairman of ‘women's committee, which is in charge, assisted by the board of gov- ernors and the board of consuls. Prizes have been provided for the *“lucky dance,” for each table of bridge and for the member of the chapter disposing of the largest number of tickets. ‘This affair marks the windup of the school year for the chaptér, which -lrndywhu had n{;: exnminlu}:)ln.;; Instructors are grading papers, whicl will be forwarded to national head- quarters in New York, where they will in be checked up and the records of students compared by the national educational committee, $50,000 Executives Hunt Jobs. An incalculable loss to industry is caused when senior business executives are thrown out of positions through mergers or othe® conditions beyond their control, Dr. Julius Klein, Assistant Secretary of Commerce, said recently in radio address on “Squandering Busi- Bess Experience.” Declaring that the employing agen- eies which specialize in placing men eapable of earning from $10,000 to $50,000 a year were crowded with ap- Blriflnu during the recent depression, . Klein said the question, “Shall the most vital, dynamic element in com- merce, namely, business brains, be per- ‘mitted to go to waste?” was acute. “Possibly you think that you are not interested in the problems of such men,” he continued, “that they are ‘out of the class’ of the ordinary striv- ers and strugglers like you and me. But any such feeling on our part would be utterly unjustified, because the trained intelligence of one far-seeing, enterprising executive is capable of rearing splendid industries and creating Jobs for untold thousands.” More Convention Sports Events. It is now announced that “barnyard” golf” will be one of the important sports events in connection with the annual convention of the District Bankers’ Association, to be held at Asheville, N. C., on June 5 to 8. Rob- ert 8. Stunz, chairman of the commit- tee, states that there will be a con in horseshoe pitching on Friday after- noon, June 6, beginning at 2:30, with a mchl prize for the winner. Some of older bankers, who do not play + modern golf, expressed a desire for a contest in the so-called barnyard va- fl]fi. and the committee was only too L L to grant this wish. An archery contest also is expected to be added to the list of special events, this sport having been featured at the Grove Park Inn for several years. Gas Company Favors Merger. ‘The directors of the Columbia Gas & 815 Albany Wrap Paper.. § 13% 23 Allegheny Corp. 107% 9514 Alleg C pf $30w(5%) 343 €8 80 1564 8216 11K 274% 26316 266% 1244 10614 20% 447 % ) 531 29% 10 81% 814 A% 64 28% 4614 5014 2421 51%, 106 37 263% 351 30 10% 58% 9% 38 116 1225 841 841 20% 87% 50% 2274 21% 8% 13% 65% 178% 42 33% 31% 14% 4 43 51% 5% 112% 7% 2% 33% 5% 226% F234 67% 241% 26% 464 125% 98% 18% 187% 255% Allled Ch & Dye(n6). 491 Allis-Chalmers (3).. 18 Amerada Corp (2) Am Bank Note I;IL 45% Am Brake Shoe( % Am Brown Bov Elec. 60% Am Brown B E pf(7) b! 117% AmCan (4).... 52 Am Car & Fdy (6) 54 Am Chain Co (3). 75% Am Chatn ot (1) 16% Am Com Alco(n 65 Am & Forn Power. .. 59 Am & For Pwr pf(6). 107 Am & For Pwrpf(7). 95 Am&Forn Pwr 24 pf. 2214 Am Hide & Lea pf. .. 55% Am Home Prod(4.20) 35% Am lce Co (14). 35% Am Internat] (2). 641 Am Locomotive (4). AmP&LDLA (3%). Am P&Lt pf A st(5). 30% Am Ra&Std San 13%. 70% Am Rolling Mill(n2) 1% Am Ship'& Com.. 6514 Am Sm & Ref (4)...1 Am Solv & Chem.... Am Sugar Ref pf (7) 1214 Am Sumatra Tob. ... 2 : 2 8215 Am Shipbuilding (8) 508 2 3 2 4 2 5 78 5 3 19 11 2 23 Am Tel & Cable (5)..2108 216 Am Tel & Telex (9). ¢ 197 Am Tobacco (8) 197 Am Tobacco B (8 120 Am Tobacco pf (6).. 8815 Am Water Wks (n1). 991 Am Wat W 1st pf(6). 7% Am Woolen. 19% Am Woolen pf. 56 AmZincpf (6).....0 52% Anaconda Cop (7)... 35 Anaconda W&C (3). 2214 Archer-Dan-M (2) 103 Archer-Dan pf (7) 42 5 4 74% Armour of Del pf(7). 5% Armour of Ill (A)..w 2% Armour of Ill (B).. s 55 Armour of 11l pf (7).. 24% Art Metal Constr(2). 33% Asso Appl Ind (4)... 28 AssoDry G (2%). 216 AtchTo &S Fe (10).. 36% Atl Refining (12).... 78 Atlas Powder (4). 31% Atlas Stores (n1). 158 Auburn Auto (34). 24 Austin Nichols pf. .. 30 Austin Nichols (A).. 41 Autosales.......... 37 Auto-Strop Saf R(3) 4% Aviation Corp of Del 24% Baldwin Loco (1%).. 109 Baldwin Loco pf (7) 1:0% Balto & Ohio (1) 78% Balto & Ohlo pf (4). 63 Bang & Aroos (3%). 16% Barker Bros (2). 2014 Barnsdall. A (2) trice Cream (4).. 82% Borg Warner (4) 131 Briggs Mfg Co....... 13 Brockway Motor Trk ?3 Bklyn-Manhat (4) 53 Bklyn&Queens pf( 131 Bkiyn Union Gas (5) 40 Brown Shoe (3) 14% Bruns Ter & Ry 22% Bueyrus (1). 8% Budd Wheel (1 29% Bullard Co (1. 26% Bulova Watch (3 37" Burr Add Mch (1), 2% Butte Superior, 70 Byers (AM).. 656% Callf Packing (4)... 1 Callaahan Zine & Ld. 16% Calumet&Hec(aé%) 57% Canada Dry G A (). 187% Canadian Pacifie(10) 5114 Can Pacific(new)w.l t ) 8% Certain-teed Prod. .. 36 Checker Cab (4.20).. 201% Ches & Ohio (10).... 63% Ches & Ohio Corp (3 18 Chi Mil StP & Pae... 31% Chi Mil StP & Pac pt. 109 ChiRI& Pae (7). 30% Chrysler Corp (3 96 City Ice & F pf 6% 7% City Stores (50e. 13814 Coca-Cola (8) 3 404 6 14 17 2 15 1 2 2 2 10 4 0s 24 3 . 23 2 35 3 08 31 1 12 k] 26 12% 81 70 26'% 2614 Howe Sound (143%).. Goodrich (BF) (4 Goodyear Tire (5). Gould Coapler Granby Copper (8).. Grand Silver S (m1). Grant (W T) (1).... 18 Grt North pf (5). Grt North pf et (5). . Grt West Sug (2.80) Grigsby Grunow.... Guantanamo Sugar.. 1 Hackensack W (1%) 100s Hahn Dept Stores. .. Helme (Geo H) (17). Hershey Choc (5).. Holland Fur (et2%). Houdaille Her B(2) Househld Fipf 13% . Houston Ol (b10%). Hud&Man Ry (3.60). Hudson Motor (6)... Hupp Motor Car (2, Illinols Central (7).. Independ Oll & G(2). Ind Motor Cycle..... Indian Refining Indian Refining rct Ingersoll-Rand (15). Inspiration Cop (4).. Insurance 8h (45¢) o o PICEFS- T PP how aBH~ % Interboro Rap Tran.. 4 Intl Bus Mach (n6).. Intl Carriers Ltd (1). Intl Cement (4) Intl Combustion. Intl Harvester (2 Intl Hydro El A (e2). Intl Match pt (4 Intl Mer Marine (1).. 4 Intl Nickl of Can(1). Intl Pap & P (A)2.40. 4 Intl Pap & Pwr (B).. Intl Print Ink pf (6). Intl Salt (6)....e.n Intl Shoe (3). - Intl Tel & Teleg (3) .. Investors Equity(2). Island Creek Coal(4) Jewel Tea (t4).....3 Johns-Manville (3).. & Laugh pf(7) Kayser Julius (4) Kelly-Spring Tire Kelly-Spring 8% pf. Kelsey Hayes (2) Kelvinator Corp. Kennecott Cop (i Kinney (GR) (1).. Kolster Radlo. . Kraft PhCh (13%). .. Kresge Dept S pt (7) Kress (SH) (1)..... % Kreuger&Toll (1.34) Kroger Gr&Bak(nl). 6 Lee Rubber & Tire.. 1 Leh Port Cm pf (7). 2608 Lehigh Valley Coal.. 2 Lehigh Valley(14%) 11 Lehman Corporation Liggett & Myers(15) 4 Ligg & Myers B(16). 4 Mallison &Co....... Loew's, Inc (3)..... Loew's, Inc pf (834). Loew's pfxw (6%).. Lott, Inc. - Loose-Wiles (2.70). Lorillard (P) Co.... Louls & Nash (7).... Ludlum Steel (2)...3 McAnd & F (12.85).4 McCall Corp (23%) spt T P(14% ) McKesson & Rob (2), McKes & Ro pf(33%). Macy(RH) & Co(n2) © B D10 509 0 2 1010 B 00 50 0O 1 CON T b 00 1 B A A RO Man Elec Supply. Man Elev mod (d5). Manhat Elev gtd (7). Market St Ry pr pf.. Marmon Motor (h2)., Marshall Fleld (2%) Martin Parry........ Mathieson Alkil (2). Maytag Co (12).. Mexican Seaboard Miami Copper (4)... Michigan Stl (m2%). Mid-Cont Petm (2). Midland Steel (3).... Minn Moline Pw: Minn Moline p£( Minn & St Louts..... M StP & SSM 1sd (4) 100s - s oo » % Mo Kan & Texas &l Mo Kan & Tex pt(7). 3 Missouri Pacific..... 1 Missourl Pac pt. (5) .. Mohawk C Mills (3)., Monsanto Ch (g1%). Montgom Ward (3).. Moon Motors........ Morrell & Co (4.40).. . Morris&Essex (3%), Mother Lode (40c). Motor Wheel (3). Murray (b2 %stk) Nash Motors 0). Nati Biscult pf (7).. Natl Cash Reg.A(14) Natl Dairy (32)..... Natl Dept Stores (2). 19 Y% 128% 127% 843 133 201 57 2415 251 8% 8% 19% g ¢ 104% 104% 84% in List. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, May 17.—Prices moved trregularly in today's typical week end was still low and as a rule fluctuations either way were moderate. Probably there were more advances than de- clines and certainly there was no im- portant weakness, but the market did not seem ready to break out of its trad- ing area. o The weekly trade reviews threw no new light on the situation. The Street is confident that business is on the mend, but there is little statistical evidence in support of the view so far. The most discouraging feature is the continued sagging of commodities. Rail Stocks. ‘The rails made a better showing than any other one group today. They did this in the face of the fact that next week the April statements will make another unfavorable comparison with thése of a year ago. Among the carrier stocks to work higher were Lehigh Val- ley, New York Central, New Haven, St. Louig Southwestern ~and Canadian Pacific. The strength in Canadian Pacific was all the more impressive because of the steady falling off in earnings and the prospect that at the present rate the dividend will be covered with a scant margin, if at all. Buying kept up in the Chicago Great Western issues, where progress is being made in con- trolling expenses, and in Western Mary- land for some reason not generally known. A number of industrial specialties worked higher. Vanadium, Worthing- ton Pump, A. M. Byers, and Fairbanks- Morse were among these. The last made & new 1930 high. Warner Brothers Pic- tures sagged on what was apparently a closing out of group operations. Radio- Keith was in supply and Simmons Co. dropped back. South Porto Rico Sugar went to & new low, reflecting the weakness in the commodity. It has been officially stated that directors have given no consideration to any change in the divi- dend. 0Oils Are Firm. . The oil stocks were little changed. T was announced from San Francisco that Standard Ol of California had cut the price of crude oil in the Santa Fe Springs field because of failure of all the operators to agree on the conserva- tion program. ‘Traders, however, feel kindly toward the oils. ‘The turnover in the first half hour was only 223,400 shares, the lowest since January 13, which, in turn, was lower than at any time in 1929, Corporation News NEW YORK, May 17.—The following is a summary of important corporation news_prepared by Standard Statistics Co., Inc., New York, for the Associated Press. News Trends. Bank clearings for the week are again considerably below the like periods of 1929 and 1928. Aggregate of 23 leading cities is 17 per cent below & year ago. New York City's clearings are 19.2 per cent lower, while total in principal cen- ters outside of New York is 12.1 per cént below last year's. Losses are shown by all cities except Louisville, with largest decrease continuing in the West an South. The weekly trade reviews repor highly uneven and indefinite move- ments in general business, Wholesale and jobbing trade continued at the pre- vious week’s moderate volume, but retail buying slowed up slightly, chiefly in the rural districts. Industrial activity showed a slight easing off. An interesting development in the oil industry was the action of Standard Oil Co. of California reducing the price of crude in the Santa Fe Springs fields only. This step is directed at operations in that field which have shown a dispo- i sition to abandon the curtailment pol- ey and run production at capacity. The Companies. American States Public Service earn- ed $1.97 on class A stock in 1929. Albany Perforated Wrapping Paper stockholders of record May 3 offered right to purchase class A participating shares American Public Welfare Tryst at $10 in ratio of one share for each share held. Anaconda Wire & Cable earned 14 cents ‘on common stock in March quarter. session on the Stock Exchange. Volume | BY J. C. ROYLE. The foundation for industrial and business improvement is solidifying fast and will be a firm basis for a prosperous structure in months to come. ‘This | foundation work, according to Govern- ment officials, has not looked lofty and impressive, but it has been none the less necessary. According to reports received this week by Government departments, con- | sumption of products has not fallen off to nearly the same extent as has pro- duction of commodities. This. natural- 1y, has resuited in a sharp diminution of stocksfon hand and is building up a demand which promises to keep the mills, farms and factories working at a {high rate of speed throughout the sce- ond half ef the year. Metals Situation. ‘The position of the non-ferrous metals reflects this situation. Copper has again shown a disposition to advance after !its sharp drop. This drop was followed by a drastic curtailment of shipments, which has already induced price ad- | vances. The iron and steel industry today is on a basis equally as high as that which obtained in years previous to 1929, which was an abnormal year. In fact, the early part of 1929 does not loffer a basis for fair comparison in |any line, because conditions were un~ usual. ‘The automobile industry is turning out {as many cars as it did at this time in 1928 and is not crowding dealers to take more units than they can handle. The output is being well absorbed by the public, although foreign sales sre rot believed to be on so high a basis as a year ago. ‘There is a tremendous volume of road work in progress and this is eiding in the absorption of unemployed labor. It MEMPHIS GAS CO. TO REDEEM BONDS Special Dispatch to The Star. MEMPHIS, May 17—The Mem- phis Natural Gas Co. announces that on June 27, 1930, it will redeem per cent sinking fund gold bonds, amounting to $6,153,500, dated August 1, 1928, and due August 1, 1943, at the principal amount and accrued interest thereon, plus a premium of 3 per cent of the principal amount of the bonds. Appalachian Gas Corporation, being a large holder of the common stock of Memphis Natural Gas Co., will accept tenders of the bonds when presented at its office at 46 Cedar street, New York, for delivery to the trustee for | payment. As a result of redemption of its bonds, Memphis Natural Gas Co. will have outstanding 10,000 shares of preferred and 920,000 shares of common stock, and no funded debt. The saving in interest charges and sinking fund will add over 72 cents per share to earnings available for the common stock. EASY MONEY LIKELY TO ENCOURAGE TRADE Cheap money throughout the world is the outstanding favorable factor in the business and stock market situa- in causing an upturn in building and in general business, according to the latest . analysis of the Brookmire Economic Service, Inc. “We are at least six months nearer to some busi- the time of the November crash. This is of importance to the investor. With- out attempting to predict whether or how low security prices will go if the reaction is resumed, we are of the opinion that buying opportunities will be numerous for the next two or three months.” H — o i Record Starting Capital. NEW YORK, May 17 (#).—When the American Express Bank & Trust Co. begins business April 15, it will have capital and surplus of $15,000,000, the largest with which an American bank has opened its doors. First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc. 800 15th St. N.W. Fhone National 2623 all of its outstanding first mortgage & tion and will eventually be instrumental| ness improvement than we were at not the present reaction is over, or is not taking care of as many men as| once it did, however, since improved | machinery has lessened the necessity for manual labor. This is true even in foreign lands, where labor is cheapest. On one job in British India, two drag rope scrapers of large size have replaced 3,000 coolles. ‘The situation in the fuel industries is showing little change. Coal is showing small improvement since railroad re- quirements have not been heavy. Ofl production is about the same. Textilés and shoes are on only a moderately active' basis. Food Industries. The food industries are in fair posi- tion, with the exception of dairy prod- ucts, which still are overburdened with hcavy stocks of butter. Demand for meats is fairly good and is showing a tendency toward improvement. Foreign demand for American meat products is increasing. Europe apparently is well satisfied in respect to the strong financial position of the American people, since it is un- derstood by Treasury officials here that $85,600,000 or more of the new German reparations bonds will be floated in this country. This opinion is buttressed by the way in which the $100,000,000 in 90 - day_non - interest - bearing United States Government bills was snapped up Thursday. The move toward consolidations of railronds is progressing, according to carrier officials, who cite the clection of directors representing the Van Swerin- gen interests to the Missouri Pacific| board. The Interstate Commerce Com- mission must pass on an application for directors of one railroad to act similarly for another road, but since the Van Sweringen lines and the Missouri Pa- cific are not in competition, it is be- lieved the application will be granted. (Copyright, 1930.) $22,000,000 SECURITIES MOVED BY MILITIA Securities valued at more than $22,- 000,000 were loaded into s#motor truck and transported from Frankfort to Louisville under escort of a squad of State militia. Upon arrival the secur- ities, which had been deposited by in- surance companies doing business, in Kentucky, were deposited in the vauits of three Louisville banks. They were transferred for safe kceping, having formerly been kept in an iron safe in the office of the State treasurer. The committee which supervised the trans- fer included the State insurance com- missioner and the presidents of two in- surance companies. Pacific Qoast Fishing Good. Nearly 700,000,000 pounds of fish were taken last year from Pacific Coast waters. The Bureau of Fisheries says the catch on the cosst is increasing. prmicdiic it Mot St s Money to Loan Secured by first deed ‘Prevalling. nterest ang com J olep 1 First Mortgage Notes FOR SALE In Denominations of $250 and Upwards JAMES F. SHEA 643 Louisiana Ave. N.W. basic industry now faces the season of Summer slackness, it is holding up somewhat better than usual, and after several weeks of doldrums and Spring fever, business has perked up slightly and resumed its slow and irregular: climb back toward normal, says -the. Business Week in its report covering the week ending May 17. Steel production is running distinctly® above normal despite discouragement: due to declining prices, and regretful: reminiscences about the boom last year at this time. Increased trade activity— more cars loaded, more checks cashed, more money going around-—has jiggled the business thermometer this week up to within 3 per cent of normal for the season and the year. It still looks chilly only by contrast with last year when it read 8 per cent above. The exact reading is 97 per cent, comparing with 94.2 last week and 108 for the same period last year. If the upward trend in general busi- ness should continue at the rate it has shown since the beginning of March we should be back to normal by Octo- ber. The stock market has apparently dug itself in for a while, determined to wait and do no more discounting of recovery till it can see the whites of its eyes. Commodity prices are still“de- clining, but here and there they seem to be scraping bottom. If retafl prices, too, will climb down gently without being pushed, or knocking wages off first, recovery may be a bit faster. Business Records for Farms. RALEIGH, N. C., May 17 (®).—Forty farmers of Rosewood, Smithfield, Benson and Dunn, N. C., are keeping business records of their farm operations this year, . First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. 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 Apartment RanparLyL H. HHAGNER & COMPANY First Mortgage Loans On improved Real Estate in the District of Columbia and nearby Maryland and Virginia for '3, 5 or 10 year terms on your 5%% = Apply Anglo Chilean Consolidated Nlmui Chilean Government has drafted plan for nitrate combination with capital of 3,000,000,000 pesos. Plan has been ao- cepted by 90 per cent of Chilean nitrate producers, including this company Electric Shovel Coal earned 7 cents on common stock in 1929 against 43 cents in 1928, Hackensack Water earned 70 cents on common stock in March quarter against 22 cents in 1929 period. Holland Furnace April sales up 10.5 per cent; 4 months sales 4 per cent above year ago. Gamewell Co. stockholders to vote on increase in authorized common stock from 150,000 to 200,000 shares in addi- tion to acting on creation of 27,500 shares $6 convertible preferred stock. George A. Hormel & Co. earned $1.11 h % on common stock in six months to 125% 4 124% | April 26 vs. $3.38 in like period year t2d pf. ., 17 16% | 380 La France Republic output for first four months increased 43 per cent over 1929 period. Marmon Motor Car guarantees all cars as to parts and workmanship for one year, or 12,000 miles. McCall Corporation magazine adver- tising lineage for first six months, 1930, upwlll’gfl p:xl;)ccnt Pover lyenr ago. continent Petroleum stockholders to be asked to approve amendment to Payable Seml-Annuaily company’s _constitution whereby em- Eliminate future renewal worrles ployes can be sold stock from company's gnd curfaiiment’ demands by ‘wppiy- treasury, total amount not to exceed DT X ares. New Yok, Chicago & st. Lous|| Showalter Realty Co. « | earned 76 cents on $6 preferred stock in Loan Correspondent of the Eureka Maryland Assurance Corporation March quarter vs. $5.14 in 1929 period. Penick & Ford, Ltd., to call 8890 924 17th St. N.W. Nat. 4123 s, + 8 AE0N 1&Iron (3).. 18 63% 69 ColGas& Kl (3).... 1485 86% 37% 23% Colum Graph((a$7e) 28 28 199 128% Columblan Carb (16) 2 1581 40% 23% Comm Credit (2).... 28 30 76% Com Credit 1st (6%4) 20s 90 86% Comm Inv Tr(gl60) 12 421 521 Com InvTovpfies) b5 831 26% Comm Solvents (11). 90 31% 12% Comwlth & Sou(0c) 72 17% 99 Cmwlth & Soupf (§) 10 103 13% Congoleum-Nairn... 24 16 ‘The Columbia Gas & Electric Co. has 67 Consol Cerprpf63. 20s 743 extensive pipe-line rights of way along 15% Consol Film (2).. 3 23% : the line between Maryland and Penn- L \ -ylvnmn:.mn was .m;’umddmmttul{lm L4, 8 ago e compay planned eventually 2. 10 supply natural gas to Philadelphia, b R iR Baltimore and Washington, as well as bt st o to other Eastern cities. The company ek again refers to these plans in a state- - ment made yesterday, which follows: o T A es “The company is conducting negotia-, Contl Ofl of Del. tlons for the supply of natural gas to Contl Shares (1) ‘Washington and Richmond. It is also Corn Prod (13%) . seeking contract agreements for sale of Coty. Ine (K2).. ... this fuel in Philadelphia. The com- s Cream of Wht{+2i4)s y has pipe-line facilities to Phila- Crown Cork & Seal.,. 2 4t delphia with a capacity of 18,000,000~ Crueible Steel pf (7). 208 114% 000 cuble et of gas snnually. which is Cuba RRDE (6, . 200 661 a) X y the annual capacity of o ¥ e Philadeiphia Gas Works, an afliate Pk L of United Gas Improvement.” 41% Cudahy Packing (4). 7 Penick & Ford (1)... 3 514 49% The plan of the company would be| 147% 63 Curtiss WrightCorp. 70 11% Penick & Ford pf(7).. 80s 108% 108% 10 sell the gas to the Washington Gas| 195 133 Curt Wright Corp A, 10 15 1 0w Light Co. for distribution through the| 35, o8y Davison Chemical... & 37 ; { R . 53 present mains. 255% 195% Detroit Edison (8)... 2 240 R i e 30% 20 87% 17 R R Dom Stores (31.20).. 1 23% Pere Marg pr of (5). 100s 101 100 CHICAGO DAIRY MARKET. 8 31 Duluth Superior pt..130s s ), e Ehiin Co 4% DEIA). 60 4 £ CHICAGO, May 17 (#).—Butter, 13, 273 Phila Co 6% pt (3) 53% 0% tilb; easy; creamery, extrss, 33%; | 1osl 1oars oanhill Intl (34), Phila Read C&1... . standards, 333;; extra firsts, 31%a32% Phillips Petrm (n: firsts, 30a31; seconds, 28a29. Eggs— 29,608 cases; steady, prices unchanged. | DIVIDENDS DECLARED | | NEW YORK, May 17 (P)— | Pav- Hidrs. cf | aSempany, Rate. riod, able. Am Tel & Cable.. 5125 2 Atm & Co (Del) pi'31.75 Assoc Invest, 31.00 Do. pf. 3 tion have approved the acquisition by the United Corporation of about 25 per cent of Columbia Gas common through an exchange of United tion preferred and common stocks. The Columbia directors are now arranging a plan for their stock- * holders for the exchange of stock. The United Corporation controls the gas supply for Philadelphia, which means that the Quaker City will eventually have natural gas. 1 Lead pf(A) (7). Natl Lead pf(B) (6). Natl Pwr & Lt (1) Natl Supply (5).. Mortgage Loan Correspondent for Yhe Prudential Insurance Co. of America MORTGAGE LOAN CORRESFPONDENT NEW YORK LIFE INSURANCE COMPANY 1321 Connecticut Ave. Decatur 3600 ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. 64th Issue of Stock Now Open for Subscription N Y Chi & StLpt(6) N Y & Harlem (6) % Norfolk & Southern.. North Am Aviation. . North Am(b10% stk) North Am Ed pf (6).. Norwalk Tire & Rub. Oltver Farm Equip. . Oliv Fr Eq ev pt(3).. % Omnibus Corp..... Orpheum Cir pf (8) Otis Elev, n(2%) Otis Elev pf (6) Pactfic C: Pactfic Gas & El (2). 69% Pacific Mills. 1 2 22 Packard Motor (1). 17% Pan-Am Petm (B). 65% Param’nt Publix (4). 6814 Parmeles Trans 1%., o164 Pathe Exchange, ' U 6% Pathe Exchange (A). 9 15% 15 - Vagrant Waves Money loaned to members on easy monthly payments James F. Shea Secretary HE world is too small for vagrant radio waves, engineers have found. Some short-wave signals traveling 186,000 miles a second" go around the world three times before they settle down. And settle down they must before they can serve a useful purpose. James E. Connelly" President Immediate Funds Available First Mortgage Loans ON Improved Properties 3 to 5 Years—Interest 6% The problem confronting engineers in bringing radio waves to earth seems small, however, compared to the average man’s problem of curb- ing vagrant spending. Yet it’s not untit WE settle down that the world, which often seemed too small, begins to yield its harvest. 145% 112% Du Pont de N (14.70. 255% 175% Eastman Kodak (18) 274 24% Eaton Axle &S (3). 10% 6% Eitington-Schild, 114% Elec Auto Lite ( El Pwr & Lt (1) Elec Storage Bat (5). Endicott-John pf (7) Equit Office Bldg (3), 2 4T% 63% 431% ErleRR..... - 48 48% 48% 34'% Fairbanks Morse (3) 46 50% 48% 5 11134 102 Fairbanks M pf (7).. 20s 111% 11!2,: 1?‘1‘& 1 W 10% shares of outstanding preferred stock for redemption on July 1. Pom;l E!.c‘:‘n American Tobacco pur- | e pose changing class A common from present shate for two new shares. B | Recommended. o -z common will be increased from 400,000 | Courtland Nixon, 1518 K St. N. to 500,000 shares. Real Estate Reynolds ~ Spring unfilled _orders Loans spring division currently total $700,000. 51% & 6j \ Safeway Stores sales in first four Applications invited for months 1930 up 13.5 per cent. Loans on Distriet of St. Lawrence Paper Mills, Ltd, to purchase $3,600,000 of Lake St. John Columbia and Maryland Properties. Poor & Co (B) (2).... P Rican Am To (B).. Prairie Ofl & Gas(2). Prairie Pipe L (15) Pressed Steel Car. ... Proc & Gamble (2).. Prod & Refiners Pub Serv,N J (3.40) Pub Serv N J pt (1) Pullman Corp (4) Pure Ofl (1%). Radio Corp. .. Radlo pf A (3%4). Radio Corp (B) (6) As an aid to settling down with a plan of systematic small investments we offer 6 per cent First Mortgage Notes on selected Washington prop= erty in denominations as low as $100. Backed by their record of 61 years withoyt loss to an investor, these Notes today are the foundation of many a tidy fortune. 7% Fed Motor Tr (80c). . Fed Wat 8, A (2.40) Filine's pf (6%).... Firestone T&R pf (6) First Nat Strs (3%). Fisk Rubber..... Fisk Rub 1st pf ¢ Foster Wheeler (2).. Fox Film (A) (4) 38% Freeport, Tex (15, 12 Gen Am Investors 99% Gen Am Tnk Car($4) 25 Gen Bronze (2) Power & Paper 7 per cent preference stock from Dominion Securities for $2,000,000 cash and 15,000 shares com- mon stock. Siemens & Halske A. G. have obtained concession for installa- Radio-Keith-Orph A. tion of automatic telephones in Greece. Reading 1st pf (2)... Standard Oil Co. of Californip has re- Real 8ilk (5). .- duced price of crude oil 75 to'90 cents Rem Rand (1.60).... 37% (& barrel in Senta Fe and Springfield Reo Motor Car (80c). only. Comran{ states present condi- Republic Steel...... tions in that field do not justify offering Republic Steel pf (6) of a price which will encourage over- Reynolds Metls 3.40. production. Reynolds Tob B (3). Stimson Aircraft April sales up 38 Richfleld O11 (2). per_cent over March. United Corporation reported to have acquired an additional 100,000 shares of Consolidated Gas stock. Holdings | Burma Oil Ltd..... . 59% 45% Gen Mills (3).,,. Safeway (e5) L 95% [now amount to about 210,000 shares. ‘fly‘ xfifi g:: :.,:.,.(;fi‘g, 1% % 48% p Safe Pr (6) . 6 1:;: &mu% neprog:cer%mckgalder; com- b 3114 otors pt €1). 3 mittee consider formation of new ital 1% i 214, 13% GentOut Adv (3).... anpmy to u%e over Buckeye I.ncubul- SHANNON & LUCH 1435 K St. NW. “National 2345 Btandard Utilities. May 20 80% Gen Electric (1.60) 11% Gen Elec spec (60c).. 46% Gen Food Corp (3). .y 13% Gen Gas&E (A) new. 85% Gen G&El cv pf(6! 26 Gen G &El B ( SWARTZELL, RHEEM & HENSEY Co. MORTGAGE BANKERS 727 15 STREET N.W, N\ ' WASHINGTON D.C Belec Btocks In Un_Hellenic Bk Do. pf... June 14 May 31| 18% Msy 31| 106 25 Zed Oup! Selected Slocks W Const Life Ins 0% .e o 41% _32% GBOuLAIV(A) (O)s