Evening Star Newspaper, July 15, 1930, Page 13

_FOX S RE-ELECTED [ BY NATIONAL UNION District National Bank Offi- , cers and Employes Cele- ! brate Drive Results. BY EDWARD C. STONE. At the annual meeting of the directors of the National Union Insurance Co., held yesterday, Albert F. Fox was elected Ppresident for the twenty-ninth consecu- tive year. Before the election of officers the stockholders named the following directors for the coming year: Charles R. Brown, Floyd E. Davis, Albert F. Fox, C. E. Galliher, Holcomb G. John- son, J, Leo Kolb, John B. Larner, Wal- ter S.{Pratt, jr., B. F. Saul and Fritz L. » Sand Th rd subsequently organized by the sdlection of the following officers: Albert F. Fox, president; B. F. Saul, vice president: John B. Larner, vice president; Wiliiam H. Somervell, secre- William H. Marbury, assistant secretary. The charter of the company bears the signature of Abraham Lincoln and Wil- liam H. Seward, having been organized in 1865. The company’s offices are lo- cated at 918 F street northwest. Bank Celebrates Drive’s Results. ‘The officers and directors of the Dis- trict National Bank gave a dinner at the Congressional Country Club last night to the employes, who have been engaged in a campaign for new business since’ April 12. President Joshua Evans jr., reported that the goal of $1,000,000 in’cash business, rental of safe deposit boxes or new trust business had been more than attained. Mr. Evans pre- sented prizes to the winning teams, the first prize, an extra week’s vacation and a substantial cash consideration going to George See. Other prize winners were Herman O. Sikorra, Gary W. Hauptman, Walter Koons and Paul Gardner, all of whom received cash rizes. A silver loving cup was presented by Col. Robert N. Harper, chairman of the board, to the team scoring the greatest number of honor points, President Evans captained this team, assisted by William H. Martin, & director. Among the officers and directors at- tending the dinmer last night were: Joshua Evans, jr. president; W. P. Lipseomb, J. Gockeler and C. C. Rogers, vice presidents; H. L. Offutt, Jdr, cashier; William C. Looker, Theo- dore S. Mason, Arthur M. Atkinson and Raymond P. Lochte, assistant cashiers; B. L. Colton, trust officer; Ralph P. Barnard, Charles J. Brand, Sidney I Besselivre, John W. Childress, A. P. Crenshaw, Charles W. Darr, Arthur L. Day, Atwood M. Fisher, Eugene C. Gott, W. Charles Heitmuller, J. Miller Ken- yon, Marshall L. King, W. H. Martin, John F. Maury, Frank W. Mondell, E. J. Murphy, Robert Lee O'Brien, Horace G. Smithy, H. L. Thornton, Joseph P. %Ulfllully. Leon S. Ulman and Chester ells. Today's Trading on Exchange. In quiet trading on the Washington Stock Exchange today Washington Railway & Electric preferred sold at 98, Federal-American National Bank stock at 275, Merchants’ Transfer & Storage preferred at 96, Mergenthaler Linotype at 97 and Potomac Electric Power 5% per_cent preferred at 1075, During the session 400 shares of Na- tlonal Mortgage & Investment preferred changed hands at 47 and 15 shares of Norfolk & Washington Steamboat rights came out at 16'5. Bond trading was limited to Washington Gas 6s, series A, and to Capital Traction 5s. An important stock sale in the un- listed department was 100 shares of Chapin Sacks 8 per cent preferred at 107. Institute Rooms Changed. Changes in the headquarters of the District of Columbia Bankers’ Associa- tion in the Becker Building are soon to be carried out in order to provide ad- ditional classroom space for the Ameri- can = Institute of Banking students. ‘Washington Chapter has grown to such proportions that present arrangements are fnadequate. President McLachlen recently ap- pointed a special committee to map out the necessary changes in the way of re- modeling. This committee includes George O. Vass, Riggs National Bank; Wilmer J. Waller, Federal-American National; Edward J. McQuade, Liberty National Bank, and Frank M. Perley, American Security Trust Co., who is ;resldenv. of Washington Chapter, A. B. It is also announced that arrange- ments are to be carried out at head- quarters so that the assistant secretary of the association and the new manager | of the credit bureau will have separate offices. The July Bulletin of the Bankers' As- sociation contains the resolutions pass- ed on the recent deaths of Dr. Frederick E. Farrington, and Alexander Wolf, both of whom were members of the associa- tion. The Bulletin also announces that th: book of printed proceedings at the recent annual convention at Asheville, N. C., is nearly ready for distribution. Fleming Points Out Crash Lessons. In the latest issue of the American Bankers’' Association Journal, Robert V. Fleming, president of the Riggs Na- tional Bank, contributes an article on the “Way to Profit From the Market Crash.” ‘The article contains many of excepting those designated by the which shows those stocks to be sold in odd lots only. 111% 106! 0% 107 4197 6 120 NEW YORK STOCK EXCHANGE THE EVENING Recelved by Private Wire Direct fo The Star Office. Notice—All stocks are sold in ene h letter Stock and Sales— Dividend Rate. Add 00, High. Low. Abitibl Pwr & Paper. . 1 26 264 ,21% Adams Exp (1.60)... 68 2 264 8514 Adams Expr's pf (5) 150s 90 90 29% Addressograph (1%) 1 32% 32% 103% Afr Reduction (3) 92 117% 118% 16 Alr Way T1Ap(2%). 6 19 18 1 Ajax Rubber. 1% 415 Alaska Juneau. 5% 18 Allegheny Corp. 234 87 AllegCpw$30wh 96 96 847 Alleg Cp x $30 w 514 84% 232 Aliled Ch & Dve(nf 266 121 Allled Ch & D pf (7). 6 123% 48'4 Allis-Chalmers (3) 564 13 Amerada Corp (2). 4 Am Agricul Chem... 23 Am Agricul Ch pf. 68 Am Bank Note (43). 61 Am Bank Note pf (3)100s 41% Am Brake Shoe(2.40) 3 118% Am Br Sh & F pf (7).2008 120 % Am Brown Bov Elec. 41 60's Am Brown B B pf(7) 2108 0814 Am Can (4). 372 42 Am Car & Fay (6) 39 Am Chatn Co (3), 75% Am Chain pf (1) 6% Am Chicle (13). 91 Am Comm Alcohol. 331 Am European Secur.. 5614 Am & Forn Power. 95 Am & For Pwr pf(6). i Am & For Pwr pf(7). 19°¢ Am Hawaitan¥+10), 214 Am Hide & Leather. 1 Am Tce (t4). wee 268% Am Internat] (2). 44 Am Locomotive (4) 9714 Am Locomot pf (7).. Am Mach & Fay (7). Am Mach & Fy n Am Mach & Metal 301 Am Metal (3). €5 Am Nat Gas pf (1).. 2% Am Pwr & Lt ($1) £0 Am P&Lt pf A st(5). 99 Am Pwr & Lt pf (6). 3% Am Ra&Std San 1%. 15'% Am Republies. ..... & Am Rolling Mill(n2) 467 Am Shipbuilding (5) 1% Am Ship & Com..... 53 Am Sm & Ref (4), 6% Am Solv & Chem.... 351 Am Steel Fdy (3). 110% Am Steel Fdy pf (1)« 4214 Am Stores (2) 47 Am Sugar Ref 103% Am Sugar Ref pf 9% Am Sumatra Tob. 200 Am Tel & Telex 197 Am Tobaceo (8) Am Tobacco B (8)... Am Tobaceo pf (6). . 106 Am Type Fdy pf (7). 7814 Am Water Wks (n1) 71 Am Woolen...... 19% Am Woolen pf. . 2916 Am Writ Pa pf (4).. 614 AmZinc LA & Sm. ... 441 Anaconda Cop (3%). 3474 Anchor Cap (2.40) 102 Anchor Cap pf (6%4). 19% Archer-Dan-M (2). 741 Armour of Del pf(7). 4% Armour of Tl) (A).... 2% Armour of 11 (B)... Armour of Ill of (7). Arnold Constabl 2414 Art Metal Constr(2). 90 Artloom pf (7). 311 Asso Anpl Ind (4) Asso Drv G (2K)... Asso DG 1stf (6).. 85 Asso Dry G 2d pf (1) 194 Atch To & S Fe (10).. 102% Atch To & SF pf (5). “0'% Atl Refining (12), 25% Atlas Stores (nl 91 Auburn Auto (4 27 Auto-Strop Saf R(3) 4% Aviation Corp of Del 19% Baldwin Loco (1%). 15 247 104'. Baldwin Loco pf (7) 20s 106 9814 Ralto & Ohio (7)..., 22 1084 Bamberger pf (6%). 150s 108% 63 Bang & Aroos (3%). 2 72 72 Barker Bros pf (6%4) 1308 75% 2015 Barnsdall. A (2).... 49 Bayuk Cigar (3) . 1208 49% Beech-Nut Pkg (3).. 3% Belding-Hemingway 27% Bendix Aviation (2). 3114 Best & Co (2). . 75% Bethlehem Steel (6). 122% Bethlehem Sti pf (7) 281, Bohn Al & Brass (3). 60' Borden Co (K3)..... 23% Borg Warner (3). 13% Briggs Mfg Co.. 12'¢ Brockway Motor Trk 58% Bklyn-Manhat (4)... 10 Brooklyn & Queen: 53 Bklyn&Queens pf Bklyn Union Gas (5) 708 110% 80 V1) '« Bucyruspf (7). 7% Budd (EG) (1)..... 6612 Budd Mfg pt (18%) &% Budd Wheel (1) 2715 Bullard Co (1.60). 2614 Bulova Watch (3) 29 Burr Add Mch (1) 99 Bush Term deb (7). 2% Butte Cop & Z (§0¢). 2 Butte Superior.... 13% Butterick Co. 661 Byers (A M) 200 7% 62 Calif Packing (4).... 2 63 1 CallaahanZine&Ld. 1 14 48% Calumet & Ariz (2).. 17 B5d% 13 Calumet&Hec(alls). 3 16% 17 Campbell Wyant (2). 7 19% 56 CanadaDryGA (6). 5 64% 184% Canadian Pacific(10) 45% Can-Pacifio(new)w.d Cannon Mills (1.60) 3 « Capital Adm (A). 156% Case (J 1) (6).. 115 Cage (J 1) pf (D).... 54 Caterpillar Trac 13% 9 ' Celotex Co..... 5% Certain-teed Prod 20 Certain-teed pf..... 2014 Checker Cab (4.20). 171 Ches & Ohlo (10). MR undred-share lots | —Prev.1930— s (655) (2858) "':- Low. Prev. Close. Close. 26% 26 2! 88| 19% 31| 901 116%| 43% 19 30 1% | 181 110% | 614 93 18% 11% [ 106% 287 | 44, 35%| 59% 8 5414 49% | 96w 42% | 13110 21% 3741 105% 90 ¢ 100 - 80 5 Cuban-Amer Sugar.. 46 Cuban-Amer Sug pf. 38% Cudahy Packing (4). 114% Curtis Publish pf(7) 6'% Curtiss Wright Corp 8% Curt Wright Corp A. 55 Cutler-Hammer(3%) 24% Davison Chemieal. 20% Debenham’s (a2.32 146 Delaware & Hud (9). 110% Del Lack & Wn (17). Denver & RG W pf.. % Devoe&Ray A (1.20) 13 Diamond Match (8). 6% Dome Mines (1)..... 67 Drug Corporatn (4). STAR, Stock and 81 Dividend Eate. Add 00. High. 5 66 97 Duplan Silk pf (8).. 140s 95% Du Pont de N (14.70) 114': Dupont deN db pf(6) Dugques Lt 1st of (5) 14 Eastn Roll Mill(ht2) 175% Eastman Kodak (t8) 19% Eaton Axle & S (3).. 38 Eitington-Schild pf. 55% Elec Auto Lite () 106% El Auto-Lite pf (7).. 4 Electric Boat. . . 4 ElPwr &Lt (1).. 105 Bl Pwr & Lt pf (7).. 611 Elec Storage Bat (5). 44 Endicott-John (5)... 39% Eng Pub Serv (2.40). 94% Eng Pub Svc of (5).. 29% Equit Office Bldg (3) « Eureka Vac Cleaner. vans Auto Loading. 7 Fafrbanks Co p! 34% Fairbanks Mor: 10 Fash Pagk Asso..... Fed Wat's, A (e2.40) 2514 Federated Dept Strs. 56 F1d Pho Fire 1(2.60). 7 Fifth Ave Bus (64c). 19% Firestone T&R(1.60) 697 Firestone T&R pf(6) 46 First Nat Strs (234). 2% Flsk Rubbe: 615 Fisk Rubber . 25 Follansbee Bros (3) 60% Foster Wheeler (2). 11 Foundation Co 28% Fourth Natl Invest.. 16's Fox Film (A) (4)..e 47 Freeport. Tex (15) 67 Gamewell Co (5) 214 Gardner Motor. 40% Gen Clgar (4). . Gen Llectric (1.60).. 46% Gen Food Corp (3). . 8 Gen Gas&EL A(e30). 78 Gen G&Elcv pf(6).. 341 Gen Ital Eds (a2.62). 40% Gen Mills (3)... . 3713 Gen Motors (13.30).. 25, Gen Motors pf wi (5) 117': Gen Motors pf (7) 814 Gen Outdoor Adv. 30% Gen PublicSvo (b6). 75% Gen Ry Signal (5) 11% Gen Realty & Util. .. 83 Gen RIty&Ut pf (e6). 65% Gen Refractor(t4%) 30 Gen Theat Equip vic 58 Gillette Saf Raz(n5) 10% Gimbel Bros. . . 154 Glidden Co (2)... 91% Glidden prpf (T)uuss 8% Gobel (Adolf). 24% Gold Dust (2% 100 Gold Dust pf (6) 215 Goodrich (B F) ( b4’ Goodyear Tire (6) 90 Goodyear 1st pf (7 5% Graham-Paige...... 18 Granby Con Min (3). 80 Grand Siiver 8 (m1). 10 Grand Union..... 34% Grand Union pf (3). 19 Grant (WT) (1)..ew 71% Grt North pf (6).... 67 Grt North pfet (5).. 18 Gr NorctfsOre (a%. 20 Grt West Sug(1.40). 151 36 15 5 110% Grt West Sug pf (7).150s 77 Greene Cananea (3).100s 124 Grigsby Grunow. 28% Gulf Mobile & N 37 Gulf States Steel (4) 26 26 Hackensk pf A(1%). 12% Hahn Dept Stores. .. 71% Hahn Dept S pf(6%) 21 Hall (W F) Pr Co(2) 471 Hamilton Watch Co. 85 Hanna pt (new) (7). 10% Hartman (B) (1.20). 5% Hayes Body. 77% Helme (Geo 60 Hercules Powder (3) 117 Hercules Pow pf (7). 70 Hershey Choe (5). .. 26% Holland Fur (et2%). 97 Houdaille-H (B)1.20 52% Houston Oil (b10%) 2514 Howe Sound (14%).. 41 Hud&Man Ry (3.50). 25% Hudson Motor (6)... 13 Hupp Motor Car (2). 113% Illinois Central (7). 19% Independ Oll & G(2) 415 [nd Motor Cyele, 8%, [ndian Refining. 8l Indian Reflning rets. 73 Indus Ray(b5% stk) 154% Ingersoli-Rand (16). 1214 Inspiration Cop (2).. 10% Insurance Sh (4bc).. 914 Insur ctfs(Md) (60c) 15% LInterlake lron (1) 414 Intl Agricultural. 152% Intl Bus Mach (n§ 11 IntlCarriers, Ltd %. 65% Intl Cement (4). 5 «Intl Combustion. 30 Intl Comb Eng pf. 50% Int Combust pf ctfs. 76 Intl Harvester (2%). 31% Intl Hydro E1 A (e2) 65% Intl Match pf (4).... 19 Intl Mer Marine (1).. 21 Intl Nickl of Can(1). 17 Intl Pap & P (A)2.40. Hackensack W (1%) 330s 208 14 WASHINGTON, D. C. TUESDAY, ales— Prev. Close. 5 46 39% 118 T 9% 2 284 20% 116 4 117% IBULLS KEEP GRIP ON STOCK MARKET Profit Taking Gives Trading Uncertain Air, but General Trend Is Higher. BY CLAUDE A. JAGGER, Associated Press Pinancial Editor. NEW YORK, July 15.—The newly or- ganized bull forces encountered stiff ogpos“.lon in today’s stock market from the die-hard bears who felt that spec- ulation for the rise was becoming rash, but the bull’ faction managed to keep price trends ly well in hand. The broad advance yesterday caused considerable nervousness among traders who had followed the upswing despite lack of confidence, and profit-taking in addition to the efforts of bears playing for a technical reaction gave the mar- ket a rather uncertain aspect much of the time. . Earnings Reports Good. A few rather pleasing second-quarter earnings statements helped to bolster confidence, although it is well known in Wall Street that the best reports usually appear first, National Biscuit earned 80 cents per share, against 84 JULY 15, 1930. { cents a year ago; General 3 cents, against 58 last vear, and Com- monwealth Edison, $2.67. against $2.79. Western Union earned only $2.78 in the June quarter, against $3.82 in the like period of last year, but this was a wide gain over the $1.45 reported for the first quarter. The fact that several leading com- panies have managed to approach the record earnings of the second quarter of 1929 1s construed as highly favorable. Rails Are Helped. The rail stocks were' helped by declaration of another $1 dividend by Missouri-Kansas-Texas. The initial dividend paid in the last quarter was regarded as purely a special disburse- ment, and in view of the current low levels of freight traffic, Wall street was inclined to doubt that the management would order another at this time. The fact that the management saw fit to| pay it, largely from surplus, indicated confidence that better times are ahead. Call money continued plentiful, and after renewing at 2'c per cent, again sagged to 2, although time money was firmer, with quotations up one-quarter of 1 per cent. ‘A strong feature of the early after- surged up more than 6 points. Spon- sors of the move point out that the | stock should do better after the rights expire August 1, and that a such a | stock cannot be expected to sell long at level to yield more than 4 per cent. The first half earnings' statement was favorably regarded. Erasers exported from the States last year welghed pounds. United 1,067,345 Home Apartment MORTGAGE LOAN 1321 Connecticut Ave. \ THE LOAN PURPOSE OF ISSUE SECURITY 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 RANDALL H. HAGNER & COMPANY NEW YORK LIFE INSURANCE COMPANY Office Building Business Property CORRESFPONDENT Decatur 3600 noon was American Telephone, which |_ Mackubin, Goodrich & Co. Established 1899 BANKERS Members NewYork and Baltimore Stock Exchanges eAssociate Member New York Curb Exchange REDWOOD & SOUTH STS. BALTIMOR% MD. 1508 H STREET WASHINGTON D.C. PRRO'PERTY MANAGEMENT Apartment House T'S applied attention youtr Apartment House property gets through our management — attention that goes into details, su- pervises carefully; and keep things running smoothly and to your profit. B. F. SAUL CO. 925 15th St. N.W. Nat’l 2100 MO RT \Glal GE L0 A NS $25,000,000 Austrian Government International Loan 1930 SINKING FUND 7% GOLD BONDS American Tranche Dated July 1, 1950 Interest payable January 1 and July 1 Due July 1, 1957 BANK FOR 'INTERNATIONAL SETTLEMENTS, TRUSTEE A cumulative sinking fund computed. to be sufficient to retire the entire amount of the Bonds of the American tranche at or before maturity is to be applied to the purchase of Bonds at or below 103%, and accrued interest if obtainable, or othetwise to the redemption of Bonds drawn by lot. ' Redeemable ‘at 103% and accrued interest, upon not less than 60 days’ published notice, as follows: For the sinking fund, on January 1, 1952, and yearly thereafter; /At the option of the Government, as a whole on July 1, 1935, or on any interest payment date thereafter. Coupon Bonds in denominations of $1,000, $500 and $100. Principal and interest payable in NXew York at the office of J. P. Morgan & Co., in United States gold coin of the standard of weight-and fineness existing on July 1, 1930, without deduction for any Austrian taxes, present or future. Dr. Otto Juch, Federal Minister of.Finance of the Republic of Austria, has furnished us with the following statement regarding the Austrian Government International Loan 1930: The Bonds of the Austrian Government International Loan 1920 now to be issued are to provide an effective sum equivalent to over $55,000,000 and form part of ar International Loan limited to amount sufficient to yield in the aggregate an effective sum of 725,000,000 schillings (equivalent to about $102,000,000) and issuable in the form of Bonds of various currencies all of equal rank. Concurrently with the present issuance of the American tranche in the United States of America, other tranches are being issued in the following-named countries in the following principal amount £500,000 sterling: Sweden, 10,000,000 kronor; Switzerland, 25,000,000 Swiss francs; Italy, 100,000,000 lire; Austria, 50,000,000 schillings. ¥ The Bonds of this Loan, which has been in 1923, are issued to provide for capital expenditures incurred and to be incurred for improvements upon the Austrian Railways and the properties of the Postal and Telegraph administration. The investment program contemplated expenditures, from 1928 to 1932 inclusive, aggregating the equivalent of approximately $102,000,000, of which about 55% will be provided by the net proceeds of the Bonds of this Loan being issued present{y. Great Britain, £3,000,000 sterling; Holland, proved by the Committee of Control constituted The Bonds eof this Loan are the direct and unconditional obligations of the Austrian Government and are secured by a charge upon the gross receipts of the Customs and of the Tobacco Monopoly of Austria, subject only to the charges in favor of the Austrian Government Guaranteed Loan 1923-1943, herein referred to as the 1923 Loan, and the Austrian Government Czechoslovakian Conversion Loan II. No further charge on the above-mentioned revenues may be created ranking in priority to or equally with the charges of this Loan except that the Austrian Government reserves the right to secure ratably with the Bonds of this Loan the bonds of any future loan issued to provide for redemption prior to maturity of the bonds of any portion of the 1923 Loan outstanding at the time of such redemption. The gross receipts of the Customs and of the Tobacco Monopoly for the year 1929 were approximately 600,000,000 Austrian schillings (or about $84,400,000). The charges for interest and sinking fund on the 1923 Loan and the above-mentioned Czechaslovakian loan, together with the charge for interest and sinking fund on the total authorized amount of the Austrian Government International Loan 1930, computed for the entire authorized Loan on the same basis as the present issues and at par of exchange, is estimated not to exceed approximately 177,100,000 Austrian schillings (or about $24,900,000) per annum. The pledged revenues are paid by the Austrian Government, as and when collected, directly into an account under the control of the trustees of the 1923 Loan, who, after providing each month for the service of that loan and the Czechoslovakian loan in accordance with their terms, are to release the balance to the Trustee for this Loan, which, after reserving each month one-twelfth of the amount required for the current annual service of this Loan, will release the balance to the Austrian Government. An agreement has been made between Austria and the Powers concerned, subject in the case of France to ratification by the legislature, by which the amounts payable in respect of Relief Bonds have been funded for gradual payment over a period of forty years from 1929 to 1968. The charge upon the assets and revenues of Austria by which the Relief Bonds are secured has been subordinated to the charge in favor of the present Loan. By an agreement entered into at The Hague, dated January 20, 1930, between Austria and all the European Creditor Powers, Japan and other signatories, financial obligations of Austria towards these Powers arisirg under the Armistice of November 3, 1918, and the Treaty of St. Germain, and any treaties or agreements supplemental thereto, were finally discharged and the first charge in favor of these Powers on all the assets and revenues of Austria created by the Treaty of St. Germain has ceased to be operative. 511 Ches & Oho Corp (3) 11% Intl Pap & Pwr (B) 4% Chi& Alton......... 9 Intl Pap & Pwr (C). 33 Chi& Eastern Ill pfa 5% 35 d 70 Intl Pap&Pwr pf (7). The local banker takes the ground | 17% 8% Chi Great Western.. 36% Intl Printing Ink (3) that banks should at all times be ready 19% Intl Rwys Cent Am..150s to meet unexpected conditions beyond " 5 5 i1 36 IatlSalt (new) their control. They should aim to be 5314 Intl Shoe (3). a bulwark of safety and at the same 69 Intl Silver (8 time maintain a policy liberal enough 1 46 5 5 40% Intl Tel & Teleg (2) to stimulate general prosperity in the 5 5% 10 5 18 Inter Dept Strs (2). community. .98 of (6) 14 Investors Equity(2). Mr. Fleming makes it clear that he | 1105+105 1% Island Creek Coal(4) believes the stock market cloud had a | 673 49'% Childs Co (2.40). TN . o5 silver lining, if the bankers of the| 43 24 Chrysler Corp (3)... 29 70 Jonns-Manville (#).. 136 country learned certain lessons thor- 5% Olty Stores (500. 2310 1191 Jones& Laugh pe(1) 1208 oughly. i Td% Clev & Pitts (3%). 58% KanCity Sou (5).... & Heard in Financial District. | 60, 80 Cluett-Feabody (6) 16 Kaufmann DS (1343, 6 The Federal Reserve Board's condi- | 'ry " 4gie Coom.Cols A (3). - . 24 Kayser Jullus (234). 3 tion statement of weekly reporting| gin 5o 3 Keily-Spring Ti 29 member banks in Jeading cities on July | 1901, 97 201 Kelly-Spring 8% pf. 100s 9 shows a decrease for the week of } e 4N Collihe I WIKIAL, s Kelsey Hayes (2)... 31 $93,000.000 in loans and investments, 12% Colonial Beacon, ¢ Kelvinater Corp.... 363 $153,000,000 in net demand deposits, 36' Col Fuel & ron ( 90 471, Kennecott Cop (3). 70 46,000,000 in Government deposits and | 75 §0 Colo & Sou 24 pf (4). 5008 ) Kinney (GR) (1)... 1 $17,000,000 in borrowings from Federal| g7 58w Col Gas & Bl (2). 167 &8 Kinney (GR ) pf (8). 108 Reserve Banks and an ncrease of $11,-| 170 1043 Col Gas & EI pf A 1% Kolster Radio. ... . .. 000,000 in time deposits 37% 15% Golum Graph (a28¢). 261, Kresge(SS)Co(1.60) Local bank officials report that there 108 Columbian Carb (16 7h Kresge Dept Stores. has been a steady increase in deposits 23% Comm Credit (2) % Kreuger & Toll 1.60.., since the controller’s call of June 764 Com Credit 18t (614) 1 Kroger Gr&Bak(n1), This is partly due to the host of di 251s Comm lnv Tr(g1.60) 2114 Lago Oll & Tran dends paid on July 1 and to the re- %0 Com Inw T cv pf(e6) 76's Lambert Co (8) tumn of funds withdrawn to avoid the| 3 20's Comm Solvents ($1) 223 4% Lee Rubber & T1 intangible tax. A strong effort to build 127, Comwlth & Sou(60e) 254 Leh Port Cem (214 up_savings accounts is still noted here. 99 Cmwlih & Sou pf (6) Leh Port Cm pf (7). Vice President Joseph Sanders of the 101. Congoleum-Nairn. 42 57% Lehigh Valley(t43) Bank of Commerce & Savings, will en- 301, Congress Cigars (4). 8 % Lehman Corp (3).... tertain the bank's officers and directors | 591, 36 Consol Clgars (5). 3 atihis country home over the coming 67 Consol Cgr pr pf 6% . 1408 9 week end 27% 15% Consol Film (2). 3 19y 9 914 85 W. W. Spaid of W. B. Hibbs & Co.| 3 1% Consol Film pf (2) ® 20 has returned to the city from 10 days 963% Consol Gas N ¥ (4).. 310 112% 528 Liquid Carbonio (4). spent at the Homestead at Hot Springs, 991, Consol Gas NY pf(5) 5 103 4214 Loew’s;Ine (3)..... Va, 3 56 3 Gty 84 w's Df xW (634) L ? ! 3 Loft "\Igix" i 11% Container(A) (1. 14 14 K 5014 Loose-Wiles (12 3% Container(Blu....o, 4 4% 26 1184 Loose-Wiles 18t (7), Cont) Baking (A)... 41 4 26% 264 261| 28% 164 A,orm’-m (E) Ce., ', Contl Baking (B). 8 Loutsiana OF1. 1. Contl Baking pf (8). § 23 Lou Ara1 50' Contl Can (2%)..... 1::7 Lnu:"s‘l..‘ > 161 Contl Diamond (2).. % 19 9 5 22 Ludlum - 3014 McGraw-Hill (2) MckKeespt T P1(16) the points in his fine address before | 8213 the District Bankers' Ascociation at the | 10 Asheville Convention. 531 Kor further particulars, reference is made to the more detailed statement printed in the circular, a copy of which may be obtained upon application. Colgate-Pal-P (2%). Colg-Palm-P pf (6).. THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION, SUBJECT TO THE CONDITIONS STATED BELOW, AT 95% AXND ACCRUED INTEREST, TO YIELD OVER 7.j0% TO MATURITY. Subscription books will be opened at the office of J. P. Morgan & Co., at 10 o’clock 4. M., Tuesday, July 15, 1980, and closed in their discretion. The right is reserved to reject any and:all applications, and also, in any case, to allot a smaller amount than applied for. All subscriptions will be received subject to the foregoing and to the due issue and delivery to us of the Bonds as planned and to the approval by counsel of the form and validity of the Bonds and of the relevant proceedings and authorizations. The amounts due on allotments will be payable at the office of J. P. Morgan & Co., in New York funds to their order, and the date of payment (on or about July 28, 1930) will be stated in the notices of ¥ 3. s b Pyes . T allotment. Interim Certificates, exchangeable for definitive Bonds when received, are to be delivered. 1015 LibOwens F Gl (1), Ligg & Myers B(16). Lima Locomotive. . . J. P. MORGAN & CO. FIRST NATIONAI BANK, New York GUARANTY COMPANY OF NEW YORK KIDDER, PEABODY & CO. HARRIS, FORBES & COMPANY KUHN, LOESB & CO. THE NATIONAIL CITY COMPANY BANKERS COMPANY CHASE SECURITIES OF NEW YORK CORPORATION LEE, HIGGINSON & CO. DILLON, READ & CO. Norman E. Towson, an assistant treas- *4 Consgl Text/le urer #nd the ma r of the foreign department of the Washington Loan & Trust Co., has returned from a two-| gy 18 week vacation at Charles Tewn, W. Va. NEW OFFERINGS. NEW YORK, July 15 (#).—New se- curity offerings today include: 18% McKesson & Rob (2), Austrian government, $25,000,000 7 Contl Shares u' 2 25 35~ McKes & Ro DI3%). r cent gold bonds, priced at 95, by J. ( 1 A 4 12 McLellan Store: !p: Morgan & Co. and syndicate. 3 i81y 46% Mack Trug? California Packing Corporation, $15,- 109 Macy (RH): oComu) 000,000 5 per cent debentures at par by 10% Madison 8a G (1%) Dean Witter & Co. and syndicate. 28% Magma Copper (4) Indiana Southwestern Gas & Utilities 6% Mallison & Co. Corporation, $2.500,000 6 per ch-’m Zmé" 4% Maracaibo riced at 9815, by Guibord, White 0. e AT Aol Ao A Zml Investment Securities Corporation. (Continued on Page 14.) New York, July 15, 1930, 935, u7 7 19% 2 Cuba Cane Products. 9 CubaCo..eves