Evening Star Newspaper, July 23, 1930, Page 13

FINANC C. &P. TOTAL NET INCREASES IN JUNE Slight Loss on Six Months Reported, Compared to 1929 Period. BY EDWARD C. STONE. Total net income of the Chesapeake & Potemac Telephone Co, for the month of June amounted to $105,336.30, compared with $76,860,96 in the same month last year, according to the monthly statement filed today with the Public Utilities Commission. Net in- come for the first six months of the present year was $647,218.85, against $684,840.21 in the first half of 1929, Telephone revenues in June were $724,132, with operating expenses of $523,330, the report shows. Net op- erating revenues after deducting taxes and uncollectables were $148,728. The company's operating revenues for the six months ended June 50 amount- ed to $4.339.876. Operating expenses for this period were $3.179,389, making net revenues after deducting taxes and uncollectables, ~ $855,709, Operating revenues for the first six months of 1929 were $4,196,897, with expenses of $3,045,615, making net revenues after deducting taxes and uncollectables $846,239. Capital expenditures for new plant and equipment during the six months ended June 30 were $2,077,347. Gross retirements during this period were $2.- 217,332, the retirements exceeding the additions by $139,985. Net additions to plant for the 12 months ended June 30 amounted to $2,188,909. On June 30 Washington was served by 161,961 telephones, an increase of 3,048 since January 1. Telephone users made about 16,700,000 calls during the month. Phone Earnings Compared. June, 1930 June, 1929 lephone oper- hn:l‘:u Tevenues. $724,132.53 $682.942.82 leph o) v & expenacs. 523,320.99 593,866.31 Net revenues . ‘Taxes and uncol- lectible $52,074.74 Total operating income . Non - operating revenues operating “ig 200,802.54 $150,076.61 $45.906.59 $148,727.80 $104,170.02 1,549.49 5,075.32 Gross income. ... $150,077.20 $109,245.34 R’I:n“fi:\:‘f “.“.’.u\l' 4,250.92 1“:]‘(:’::'1 G 40,333.85 28,124.73 $105,336.30 -TN,TW 4,107.14 Net income. 'l'nrlion Stock Slightly Higher. ital Traction stock sold fraction- ally gllghef on the Washington Stock Exchange today, the third trading ses- sion since the court granted permission to increase fares. The stock opened at 6715, a new high and an overnight gain of % of a point. The day's trading was confined to small lots, the largest sale being 30 shares. The stock closed at 67!, after a_turnover of 115 shares. Potomac Electric Power 512 per cent preferred_sold at 108. on sales of 85 shares. Railway & Electric preferred came out at 9815, Second National moved at 175 for only two shares. Carpel Corporation was quite active and 50 shares of Woodward & Lothrop sold at 110. Members of the exchange and other financiers will be shocked to learn of the sudden death of Ralph W. Byers, chief national bank examiner in the Firth Federal E erve district, which includes the gton banks. He died yesterday ln No h Carolina while examining a_bank, heart trouble being the cause. He was 55 years old and had been in charge of the banks in territory since July 1, 1929. Peoples Drug Profits Reported. Net profit of Peoples Drug Stores, Inc., for the six months ended June 30, 1930, is announced as $23i,478, after charges and taxes, equivalent after divi- dend requirements on the 6'2 per cent preferred stock to $1.17 per share on the 127,360 no par shares of common stock. Net profits of the American Ice Co. and subsidiaries in June after interest i but before depreciation and Federal taxes were $914,382. This compares with $906,799 in 1929 and $701,403 :in 1928, The consolidated statement of in- come of the North American Co. for 12 months ended June 30 reported a bal- ance of earnings for common stock amounting to $28,680,630. These garn- ings represent an increase of 1271 per cent over the previous 12 months and are_equivaient to $5.06 a share on the | average number of common shares out- | standing during the period as compared ‘with $5.01 for the average number out- standing during the previous 12 months, P. & W. Grand-Silver Stores, Incor- ted, for the six months ended June 1930, after all charges and taxes, | Teports net profits of $792.408, equal | after preferred dividends to $1.71 a| ghare earned on the 385,775 shares of no par value common stock outstand- ing. This compares with net profits of $609,028 reported for the first half | of 1929, equal to $1.47 a share earned | on the same amount of stock. Brokerage House Optimistic. M. J. Meehan & Co., the New York | brokerage concern with a Washington | office, is taking the same position as Hornblower & Weeks, and insists that now is the time to buy sound stocks. | The statement says: “We believe in the future of the| United States; in the ability and finan- eial courage of its industrial leaders; that securities of many of our great| corporations are selling at levels, which do ot truly reflect the assets of these corporations, their .earning power and - their future possibilities. “For these reasons, we believe that | the present market offers many ex- cellent opportunities for the prudent 1A L are sold in one hundred-share lots mxmaulmuummmm-“(‘:s';) Adams Expr's pf (5) Adams Millis (2) Advance Rumley Advan umley Alr Reduction (3). Alaska Juneau. Albany Wrap Paper. Allegheny Corp. . Alleg Cp w 330 w 5% Allled Ch & Dye(né) Allis-Chalmers (3) Alpha Port Cmt (2). Amal Leather i Amerada Corp (2). % Am Agricul Chem. Am Agricul Ch of... Am Bank Note (13). Am Brake Shoe(2.40) Am Brown Bov Elec. 146 Am Brown B Enf(fi‘l;n. 4 Am Chicle (+3) 9% Am Comm Alcohol. . Am & Forn Pewer. .. Am & For Pwr pf(7). Am&Forn Pwr 24 pf. Am Ice (t4) Am Ice pf (6)..... Am Internatl (2) Am LaFr & Foam pf. 108 Am Locomotive (4). Am Mach & Fay (7). Am Mach & Fy n w. Am Mach & Metals. Am Metal (3) Am Pwr & Lt (3. Am Pwr & Lt pf (6). % Am Ra&Std San 1%, 110% 42% 9% 16 200% Am Republies. 8 Am Rolling Mill(n2) 11 Am Safety Razor(5). 1 Am Sm & Ref (4) 4 Am Solv & Chem. 1 Am Sol&Ch ev pf(3). 4 Am Steel Fy (3) Am Steel Fay pf (7). 508 Am Stores (2). Am Sumatra Tob P Am Tel & Cable (5).. 304 Am Tel & Teleg (9).. 318 Am Tobaeeo (8)..... 11 Am Tobacco B (8). Am Zine pf (6). Anaconda Cop (3%). 109 Anchor Cap (2.40). 4 Archer-Dan-M (2). Armour of 111 (A)... Armour of Ill (B)... Armour of Ill vf (7). Asso Appl Ind t4). Asso Dry G (2%) Atch To & S F'e (10). Atch To & SF pt (5). % Aviation Corp of Dal 28 Baldwin Loco (1%). 2 Balto & Ohfo (7).... 17 Balto & Ohlopf (4).. 1 Bang & Aroos (3%). 1 Bang & Aroos pf (7) }100s Barnsdall. A (2).... 11 Bayuk Cigar (3).... 2208 Bayuk Cgr st pf(7). 10s Beatrice Cream (4).. 3 4 B'trice Cream pf (7 Beech-Nut Pkg (3).. Bendix Aviation (3). Best&Co (2)...v00e Bethlenem Steel (6). Blaw-Knox (1 Boston & Maine (4) Briggs Mfg Co... Brockway Motor Trk Bklyn-Manbat (4).. Brooklyn & Queens. . Bklyn&Queens pf (4) Bklyn Union Gas (5) 4« Bucyrus pf (7). Budd (EG) (1) Budd Wheel (1 Burns Bros (B) Burr Add Meb (1). Bush Term deb (7)., Butte Cop & Z (60¢). Byers (A M)..oovoes Calit Packing (4) Calumet & Aris (2). Calumet&Hec(al%). Canada Dry G A ¢6). Canadian Pacific(10) Can Pacific(new)w.1. Car Clin & Ohio (4)..1008 Case (J 1) 16).... 23 Caterpillar T Celotex Co. . Cerro de Pasco (I) .. Checker Cab (4.20). Ches & Ohio (10)..¢. 4 Ches & Ohto Corp (3) Chi & Eastern 111 pf. Chi Mi1 StP & Pac pf Chicago& N W (b Chi Pneu Tool ChiR1& Pac (1 Chi R 1 & Pac pf (6). Chickasah Cotton Oil Childs Co ¢ Chrysler Corp ( City Ice&Fuel pf 6% 150 City Stores tb0e. ... Coca-Cola 2 Colgate-Pa! Colg-Palm-P pf (6) Collins & Alkman Colonlal Beacon. Col Fuel & iron (3) Colo & South (3). 90 . 1756 47 Comm Credit (2).... 4 Comm Credit A (3).. 2 Comm C 1st xw(6%) 408 Comm Lnv Trigl.60) 2 Com Inv Tcv pfies) 1 Comm Solvents (31) 391 Comwlith & Sou(60c) 96 Cmwith & Sou pf (6) 11 Congoleum-Naira... 15 Congress Cigars (4). 1 ~Prev.1930— Hich. Low. (265s) 3% 10% 39% 5014 123% 6% 38 " 344 Evans Auto Loading. Fairbanks Co pt. . 1 Fairbanks Morse (3) Fairbanks M pf (7).. Fash Park Asso.. Fed Lt & Trao pt () Fed Wat 8. A (e2.40) Fisk Rubber. ...c..o Fisk Rubber 1st pf.. Fisk Rub 1st pf ev. . Flosheim Shoe A (3) Foster Wheeler (2).. Fourth Natl Invest. Fox Film (A) (4)... Freeport. Tex (15).. Gen Am Investors. Elee spee (60c). Gen Food Corp (3).. Gen Gas&EL A(e30). Gen Ital Eds (a2.62). Gen Mills (3). Gon Motore 145.30). 1344 Gen Motors pf wi (5) Gen Motors pf (7)... Gen Outdoor Adv, Gen Out Adv(A) (4). Gen PublicSve (b6).. Gen Ry Signal (5). 4 Gen Refractor(t4%) Gen Theat Equip vte Gillette Saf Ras(nb) Gimbel Bros Glidden Co (2). Goodrich (B F) (4) Goodyeer Tire (5). .. Goodyear 1st pt (7). Graham-Paige...... Granby Con Min (2). Grand Silver 8 (ml). Grand Unton. Grant (W T) ¢ Grt North of (5 Grt West Sug (1. Greene Canan Grigsby Grunow. Gulf Mobils & Nor! Gulf States Steel (4) Gulf St Stl 1stpf(7).. Hackensack W (1%) Hackensk pf A(1%). Hahn Dept Stores. .. Hall (W F) Pr Co(2) Hamilton W pf (6).. Har Wkr Ref (12%). Hartman (B) (1.20). H!rlhly Choe pf (15) Holland Fur (et2% Houdaflle-H (B)1.20 Houston Ol (b10%) Howe Sound (t4%). Hud&Man Ry (3.50). Hudson Motor (5). .. Hupp Motor Car (31, Tiinots Central (1) Tilinois Cent pf (§ i Independ Ol & G(3) 4 [nd Motor Cycle. Indian Refining... .. Indus Ray(b6% stk) Ingersoll-Rand (t5). Inspiration Cop (2).. Insurance Sh (46c). . Insur ctfs(Md) (60c) Interboro Rap Tran. Intercontl Rubber. Interlake Iron (1) Intl Agricultural Intl Agricul pf (7 Intl Bus Mach (né Intl Carriers, Ltd Intl Cement (4) Intl Combustion. Int] Comb Eng pf. Int] Harvester (234). Intl Harvester pf(7) Int] Hydro El A (e2) Tntl Match pf (4)... Intl Mer Marine (2). intl Nickl of Can(1) Intl Pap&Pwr pf (7). Int] Printing Ink (3) Iatl Salt (new) 4 Int] Shoe (3). Intl Stiver pf ¢ & Intl Tel & Teleg ( Inter Dept Strs (3). . % Inter Dpt S pf xw(7) Investors Equity(3). [sland Creek Coal(4) Johns-Manville (3).. Johns-Manv pf (7).. .Inn & Laugh pf(7) 1y -Sp; Tire... Raloay Hayes 13, o Kelvinator Corp. ... Kennecott Cop (3).. Kimberly-Clark(13). Kolster Radio. . Kresge(SS)Cor1 80} Kreuger & Toll 1.60. Krog Gr & Bak (n1). Lago Of) & Trans. .. Lambert Co (8) Lee Rubper & Tire. . Leh Port Cm of (7).. Lehigh Valley Coal. Leh Val Coal pf (3).. Lehman Corp (3)... LIgg & Myers B(15), Ligg & Myers pf (7). Lima Locomotive. Link Belt (2.60) Liquid Carbonto (4). Loew’s. Ine (3). s of xw (634 Wiles (12.80 Mac And & ' (12.85). MacA & Forb pf (6). McGraw-Hill (2)... McKeespt T P1 (15). McKesson & Hob up Madison Sa G (1%) Magma Copper (4). Mallison & Co. . 10 « Manhat Elev £td (7) 1108 Man Elev mod g (45) Man Shirt (2)....... Maracaibo Oil Exp.. Marmon Mot (h50¢). ll‘t 104 10 9 8% 4 39 38 100 109 108% 12 124 95 341 3% 21 15 117% 118% 11R16°118% 22% 13% 121% a1 | London, pound frane Baltimore Markets Special Dispatch to The Star. = MARKET RESUMED TR Trading Favorites Absorb Considerable Selling on Way to Higher Levels. BY CLAUDE A. JAGGER. Associated Press Pinancial Editor. NEW YORK, July 23.—Having in effect publicly committed themselves to advancing prices, the bull forces ap- plied strong-arm meghods to the stock market today. An impressive list of important stocks was bid up 4 points or more, and timid shorts hurried to cover at costly levels. There was no inclination on the part of the general public, however, to rush into the market. Commission houses reported only a modernu pick-up in business. Meehan Statement. A widely advertised statement by M. J. Meehan & Co., saying that it re- garded present levels as offering excel- lent opportunities to prudent investors, was generally regarded in Wall Street a5 a public avowal of the bull cause by the so-called “Meehan mup" ot mar- ket operators, who are regard: Y brokerage circles as imflortant enzl- | neers in the present market. ‘While speculative sentiment general- ly has become rather bullish over the more distant future, there is a feeling that the success of the present move- ment will depend largely upon the ex- tent of the seasonal upturn in busi- ness actlvity as Fall approaches, and the amount of public participation which can be attracted. Commission houses find no such in- clination on the part of the public to rush into the market as there has been during recent years, for too many optimistic forecasts and bull campaigns have failed. A current survey points out that the stocks of several leading companies of a decade Iffl would now :‘v;“ow sharp losses if held since that e. ‘The day’s business news still reflected little but seasonal trends. The weekly steel trade reviews were more im- istic, but Iron age still placed steel mill operations as unchanged at 56 per cent of capacity, against 95 a year ago, and 73 two years ago. Freight car loadings as reported for the latest week showed further seasonal declines, and contin- ued at the lowest level in recent years. ‘The weekly petroleum statistics, how- ever, distinctly were favorable, showing further substantial reductions in re- finers stock and crude production. Earnings statements coming to hand continue to show a few decidedly en- couraging excepuom to the downward tendency. Profit-Taking Appears. ‘The bull movement attracted consid- erable profit-taking, and prices wav- considerably at times. For a timy during the morning and again in the afternoon recessions of a point or so from the highest were common. Stren- uous operations for the advance in such pool favorites as Standard of New Jer- sey and Radio Keith appeared to meet | some opposition, for advances of only a point or less were achieved. General Motors was pushed up substantially more than a point, a fair move for that stock. Shares making extreme gains of about 4 included United States Steel, American Telephone, American Can, Vanadium and Dupont. Radlo, Gen- |eral Electric and Electric Auto Lite gained 2 or so. High flyers were East- man Kodak, Allled Chemical, Colum- bian Carbon and Peoples Gas, up 6 10. Credit eased. Call loans were re- newed at 2 per cent and funds were available in the outside market as low as 1 per cent. Shorter term time money also shawed an easier tendency. Further exports of gold were without influence. FOREIGN EXCHANGES. (Quotatisns furnished by W. 8. Hibbs & Co.) jominal gold Selling checks Nelue 0 &n today. russels, | Berlin, Rome. lir: Zurich, Athens. adrid, ienna. First Mortgage Loans Lowest Rates of interest and Commission Thomas J. Fisher & Company, Inc. ‘m . BEN HUNDLEY TIRES Liberal Al e en Your Old Tires 3436 14th St. N.W.+Adams 8100 Road Service—Charge Accounts Invited Property Management Over 30 years’ suc- cessful handling of rents—economical con- sideration for owners. Personal ' attention bushel, 'lul oo. pers, hunpwr, 85475 peas, m spinach, bushel, loo-llo :quuh ham. per, 15a25; tomatoes, hamper, 50a1.00; apples, bulhel, 1.25a3.00; blackberries, qllm ; cantaloupes, crate, 1.00a mnm box, 3.75a9.00: peaches, Muhfl ;" ‘watermelons, 100, Dairy Markets. y alive—Chickens, Springs, pound, 23a32; Leghorns, 17a23; old hens, 10a24; lqhorns 14a17; ducks, 18a23; pigeons, pair, 15a25, Eggs—Receipts, 2,610 cases; nearby flnu 232; Southern firsts, 21. tter—Good to fancy creamery, gmmd 34a38: ladles, 24a25; rolls, 24a process, 20a29%,; store packed, l!. Hay and Gnln Wheat—No. 2 re” Winter, export, 95; No. 2 Winter, garlicky, spot, 92}3; July, 92';; August deliveryy 93%. Corn—No. 2 'domestic, yellow, new, 94a95; cob corn, 4.25a4.50. Rye—Nearby, 60a72. Oats—White, No. 2, 4612; No. 3, 45%%. Hay—Receipts, none. No change in market; continues quiet. Live Stock Market. Cattle —Receipts, 100 head; light sup- ply, market dull and slow. Steers—Good to choice, 8.00 to 8.50; medium to good, 7.25 to 7.75; -fair to medium, 6.50 to 7.00; rllin to fair, 575 to_6.25; common to plain, 5.00 to' 5.50. Bulls—Good to choice, 6.25 to 6.50; medium to good, 6.00 to 6.25; fll} 0 medium, 575 to 6.00; plain to fair, ;25 to 5.50; common to plain, 4.50 to Cows—Good to plain, 575 to lM medium to good, 5.00 to fair medium, 4.00 to 4.5¢ ll.ln w fair, !25 (OHl .75; common to plain, 2.50 to 3.00. eife medium to good, 650 to 7.00; fair %o medium, 6.00 to 6.50; plain to fair, ggg to 6.00; common to plain, 5.00 to| Fresh cows and Bpflnlfl. 40.00 to 80.00. Shéep and lambe—Receipts, 500 head: uood supply, market lower, Sheep, 1.00 to 3.50; lambs, 5.50 to 9.50. Hogs—Recelipts, 300 head; light sup- Rly market lower. Lights, 985 to 10.10; 10. ao mws 21; owmueg;""ii;g MI g Toug] ; pigs, 9.00 to 9.90; pigs, 10.00 to 10. Calves —Receipts, 25 head; mm sup- ply, market higher. Calves, 5.00 to GOLD SHIPMENTS REACH By the Associated Press. NEW YORK, July 23.—Two gold shipments of $6,000,000 each, both con- signed to Prance, were announced to- day, bringing the total of the present exportation to $22,000,000. Today’s shipments, both to be sent on the liner Europa, sailing tonight, are being forwarded by Lazard Freres, International Banking House, and the Guaranty Trust Co. of New York. ‘The present movement, the first im- portant gold export that has left the United States since last January, got under way a week ago today wtih the forwarding of $4,000,000 to ince by wazard Freres. An additional $4.000,000 also was sent to France by an unidenti- fled consigner. This week $2,000,000 in gold went forward to Canad: NEW SECURITIES NEW YORK, July 23 Ufl New se- Oklahoma Gas mect.rle Co., $6.000,000 5 per cent bonds, priced at 9915, by a syndicate headed' by H. M. Byllesby & Co. Schuylkill County, Pa., $1,200,000 4%, r cent bonds, priced to yleld from .25 to 4 per cent, by Harris, & Co. and National City Co. U. 8. TREASURY BALANCE. ‘The United States Treasury balances announced today. as of close of business July 21, was $201,545,002.57. Customs receipts’ for the month to date were $16,725,131.05. Total ordinary expen- ditures, $12,039,430.18. TOTAL OF szz,ooo,om)‘I Lws ne $6.90 Bi.ii¢ Ylon ny ¥2 bt {Majestic Rovalty.1! Cultivate Saving! Learn the Value of Small Methodical Saving THERE DIVIDENDS DECLARED NEW YORK, July 23 (/— Un Inv 33 env pf..T8¢ — Interim., Imp Tob GiB&lre..7% — N Mex PowaDev.... Organis A.")IIN JOY IDSON. Systematic Over a Third of a Century Without a Loss B. ational 2100 IS NO on Investment Properties JAMES Y, PENNEBAKER Nat.5291 1520K St. N.W.: REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD so 1520 K St. N.W. National 0475 Due July 1 e Co-operatwe Bldg. Ass'n ized 1 50th YEAR COMPLETED rn-unc WAL'I'II 8. ml‘l‘. Jr., Secretary ...$5,723,083.61 Surplus & Profits ‘l.'l!l,lll.,'l' Subscription for the 99th Issue of Stock Being Received Let us explain our plan of saving! RECKONING WITH CERTAINTY Few investments can be made with assurance of definite re- turn continuously. Our 6% FIRST MORTGAGES are one of the notable excep- tions. They will not vary in interest throughout the terms of the loan—and meanwhile the principal is fully secured by con- servatively appraised real estate. May be purchased in amounts from $250 up. F. SAUL CO. 925 15th St. N.W. SUBSTITUTE EOR. SAFETY NOw PRIVATE ROOMS WITH REAL BEDS On this famous flyer to Claicago q PRIVATE room of your own—a Marshall Field (234) Mathieson Alkil (2). May Dept Strs (n2).. Maytag Co (12) Mengel Co (2)...... Mexican Seaboard . . . Miami Copper (1%). Michigan Stl (h2%). Mid-Cont Petm (2) investor to secure stocks of these cor- porations at attractive levels. and we | Consol Film (%) . recommend the purchase of such stocks Consol Film pf (2). now."” | 6% Conso! Gas N ¥ 4) June Building Permits Off. 4 Consol Gas NY pt(§) A decrease of 88 per cent in the | e fensLad el value of building permits for June, | Container(A) (1. compared with May, was reported by | Cbntd BaktE (Ao Department of Labor. Total indicated | e Bk expenditure for June was $157,894.291, i o Decreases were registered in five of | Contl Digmond (5 seven geographical districts. Increases ntl O1) of Del. . in total bullding operations were shown Conti Shares (1). in the New England States and the | 4 Gotr Prod Ref (144 ) West, North Central States. Residential | Corn Brog stATs - buildings decreased 7.0 per cent, com- pared with May, while non-residential | bulldings decreased 9.0 per cent. Expenditures for new residential buildings for June were $54.024,483, | compared with $68,096,342 for May, and for hew non-residential buildings $79,- | 348,152 for June and $87,196,460 for ' 12 % May. 2 Curtiss Wright Corp . Curt Wright Corp A. Cutler-Hammer(3%) Davizon Chemical. .. Del Lack & Wn (17). Detroft Edison (8).. Diamond Mateh (8). Dome Mines (1).... Drug Corporatn (4). Dunhtll nt] (34).... Du Pont de N (1 Eastman Kodak Eaton Axle & 8 to details and prompt remittances. Also facilities for financing. Moore & Hill, Inc. (Since 1900) 730 17th Street Consol Cgr pr pf 6% .180s 1 two lower berths. If two people wish to occupy one of these rooms, an upper berth can be let down and the cost of the room will be that of two tickets and two lower berths. Similar private bedroom cars, for single occupancy only, are available on overnight trains to New York and Boston, real bed with box ‘springs and eep comfortable mattress—this is the latest luxury offered by the famous Liberty Limited ... one of America’s famous trains. And for this extra comfort and pri- vacy you pay only one-quarter more than the regular fare—plus the cost of ) Mil EI Ry & Lt pf(6) Minn Moiine Pwr MoKan & Texas (2). Mo Kan & Tex nfi7), Missourt Pac pf (5). Mohawk Car Monsanto Ch (g134) Montgom Ward (3).. Mother Lode (20¢c).. Motor Products (2) Motor Wheel Mullins Mfg. .. Mullins Mfg pf (7). Murray (b2%stk)... Nash Motors (4)... %) Be Wise in Your Investments Choose Guaranty First Mort- gages and commence to build « firm, substantial estate. Prin- cipal and interest doubly pro- tected—first, by income produc- ing Washington real estate and secondly by our resources of $3,800,000. . We Make First Mortgage Loans! Cream of WhE(12%). Crown Cork & Seal. . Crown Zellerbach (1) Crueible Steel pt (1) Swift Luxurious Flyers to Chicago to St. Louis LIBERTY LIMITED THE AMERICAN Leaves Washington..... 3.25 P.M. | Leaves Washington...... . 7.20 PM. Arrives Chicago. . 9.10 A.M. | Arrives St. Louis... . 5.05 P.M. MANHATTAN LIMITED "SPIRIT. OF ST. LOUIS” Leaves Washington. : 7.05 P.M. | Leaves Washington . 2.55PM. Arrives Chicago . 2:05 P.M. | Arrives St. Louis. +e:212.30 P.M. Alan B. Smith, General Passenger Agent, 613-14th Street, N. W., Washington, D. C. Telephone National 9140. PENNSYLVANIA RAILROAD The Cool Route to the West At 'll- comparable to rail-Pullman, T A T-MADDUX AIR LINES offer swift, regular, com- fortable service from coast to coast in 48 hours—with convenient service between intermediate paints—in connection with Pennsylvania and Santa Fe rallroads. Phone for information. Meard in Financial District. William Montgomery, president of the Acacia Mutual Life Association, has seturned to San Francisco from a vaca- tion trip to Honolulu and is now tour ing branch offices in the West. He ex pects to return home about August 15. Loew's Incorporated declared regu- urly qulnerly dividend of $1.621; onr 6,50 cumulative preferred stock, plylble August 15 to stockholders of apordauly 31 Elee Auto Lite Montgomery Ward & Co. declared | ' El Auto-Lite pf (1).. 10- the regular quarterly 75 cend dividend | 4 Electrie Bost. . on common, payable Augusi 15 to stock | £l Pwr & Lt (1), of record August 4. E| Pwr & Lt pf (1) Great Atlantic & Pacific Tea Co. de- Elec Storage Bat (5) clared regular quarterly dividends of Emerson Brant (A). #1.25 on non-voting common and $1.75 Endicott-John (8)... on’ first_preferred, both payable Sep- Eng Pub Serv (2.40. tember 1 to stock of record August 11. 67% 53'% Erie RR 18t pf (M.« Natl Biseult. n 4 Nati Cash Reg. A6 Nat Enam & Stamp. Natl Lead ' 15). at) Lead pf(A) (T). Natl Lead pf(B) (8). Natl Pwr & Lt (1).. Natl Steel (2).. Natl Supply pf (7). Natl Surety (5).. Natl Tea Co (2) 4 Nelsner Bros (1.60). Capital Resources, ”I_“M ¥ 24 JACKSON PLACE