Evening Star Newspaper, August 4, 1930, Page 13

| FINANCIAL.” -~ NEW YORK STOCK EXCHANGE lmh!‘iy‘hhlh Wire Direct to The Star Office. SAVINGS DEPOSITS REGISTER INCREAGE Report From Mutual Banking Institutions Shows Gain Since January 1. BY EDWARD C. éTDNE‘ The expected upturn in savings has definitely arrived. Deposits in mutual gavings banks, which hold more than 30 per cent of all savings in the banks of the United States, showed a gain of $273,766,807 - for the six months ending June 20, ac- cording to figures submitted by the individual banks to the National Asso- ciation of Mutual Bavings Banks. That figure represented a THE EVENING STAR, WASHINGTON, D. C. Note—All stocks are sold in ove hundred-share lots ~Trev.1930— Stock Hizh. Low. Dividend Rate. 37% 21% Adams Exp (1.60)... 32 23 Adams Millis (2)... 34% 29% Addressograph (1%) 41% 15% Advance Rumley pf.. 1% 15 Ahumada Lead...... 156% 1034 Alr Reduction (3).... 36 16 Alr Way T]1 Ap(2%). 2% 1 Ajax Rubber., 36% 18 Allegheny Cor 107's 87 AllegCpw3l0w 343 232 Allled Ch & Dye(n§). 48'4 Allis-Chalmers 23 Am Agricul Chof. ... 97% 68 Am Bank Note (13 55% 27 Am Bosch Magneto. 128 118 AmBrSh&Fpf (7). 21% §% Am Brown Bov Elec. 15614 108% Am Can (4)... . 42 AmCar & Fay (6)... 95 AmCar & Fav pf(1). 36% Am Chicle (13)....s 9% Am Comm Ajcohol. .. 33\ Am European Secur. 56% Am & Forn Power. .. 111'% 106% Am & For Pwr pf(7). 100% 92'% Am&Forn Pwr 24 pf. 41% 31 AmIce (t4) ....... larger gain than in some other recent six-month periods before deflation be- gan, and compared impressively with the decreare in the last six months of 1929, amounting to $82,710,075. Thé same ratio in national | and State banks and trust companies would mean a gain in savings for the half year of about $700,000,000. New York led the Nation with an fncrease of its savings bank deposits amounting to $172,953,191 between , January 1 and June 30. That meant an average account of $837.84, only $10 | per account under the average a year ago. And there were 177,905 more de- Positors than a year 2go Massachusetts followed with the sec- ond largest gain, representing an in- crease of $49,239,371 for the six months, compared to a loss of $6,896,728 in the final half year of 1929. The average per depositor was $693.24, or a gain of $5 per account over a year ago. Typical gains during the six months in other key industrial States were as follows: Connecticut, $24,110,969; Dela- ware, $1,349,161; Maryland, $6,518,018; New Jersey, $10,143,752; Ohio, $2,709,- 984; Pennsylvania, $10.465166, and Rhode Island, $1,338,756. Only five States showed further recessions, and none o fthe amount was important. Ferriss to Head Bankers. Twenty-two nominations for offices in the Investment Bankers' Association of America, sclected as the regular ticket for submission to its annual con- wention in New Orleans, October 12 to 15, were announced in Chicago today by the board of governors. The list is headed by Henry 'T. Ferriss, executive vice president of the First National Co. St. Louis, nominee for president. Since nomination in the past has always been equivalent to election, it is expected that Mr. Ferriss will take office for the 1930-3 term at the close of the association's October meeting. He will succeed Trowbridge Callaway. . Alden H. Little ‘of Chicago has been named to succeed himself as_executive vice president and Sidney R. Small, Detroit, and William J. Wardall, Bon- bright & Co., Chicago, have been nomi- nated to succeed themselves as vice presidents. The three new vice presi- dents selected are Charles D. Dickey, Brown Brothers & Ca.,. Philadelphia: William H. Eddy, Chase Securities Cor- |* poration, New York City, and Bernard ‘W. Ford, San Francisco. Willilam T. Bacon, Chicago, is pro- posed for treasurer and C. Longford Felske, Chicago, for secretary. No Fear Over Gold Exports. Gold exports of approximately 940,000,000 in the past two weeks will mot result in a change in the easy money conditions, from which so much is hoped as a stimulus to business re- covery, in the opinion of G. M.-P. Murphy & Co. Contrasting the pres- ‘ent situation with that in 1928, when gold exports contributed to tightening of money rates, it is pointed out that in 1928 business as a whole was good; the Reserve banks were attempting to check the rapid expansion of security credit and did not offset gold exports by purchases of bills or Government securities. “Business now is dull and the stock market is behaving in an orderly way,” the Review says. “These two differ- ences, in addition to the fact that monetary gold stocks in the United States are now $230,000,000 greater than in April, 1928, and total Reserve bank credit is $450,000,000 less, call for and permit expansion of reserve credit. The operations and announcements of the Reserve Board so far this year in- dicate their willingness to give business the stimulant of easy money.” Mergenthaler Leads Market. Mergenthaler Linotype led the Wash. ington stock market in volume of trad- ing when the week's business opened today. The stock opened at 96 and closed at 97 after a turnover of 92 shares. Peoples Drug showed considerable more activity today than in any recent @ession. The market opened at- 1037 and closed at 1045 on sales of five 10-share lots and a 5-share lot. Steamboat rights again moved at 16. Potomac Power 6 per cent preferred sold at 111, and the 5 per cent issue at 109. Federal-American Co. common moved at 31':, Real Estate Mortgage & Guaranty preferred at 6': and Wash- #ngton Mechanics' Mortgage Co. at 9. The only bond transfer was a $1,000 sale in Capital Traction 5s at 94. The newly listed Columbia Medical Building Corporation stock appeared for the first time, with 90 bid and none offered. Financial District Notes. Howard Moran, vice president of the American Security & Trust Co. and & former president of the District Bank- ers’_Association, is on a vacation trip to Newfoundland. He went to Boston by rail and sailed from there, the latter part of the trip also being by rail. H. T. Bisselle and B. Gwynn Dent, assistant cashiers of the Riggs National Bank, have started on their annual vacations. E. M. Amick, another as- sistant cashier, returned to the main office on August 1. Frederick P. H. Siddons, secretary of the American Security & Trust Co., has returned from a vacation of about three weeks. He passed most of the time at the Summer home of his father, Jus- tice Siddons, on the Maine coast and the remainder in motoring. Harry G. Miller, for the past six or seven years in charge of new accounts at the same bank, has returned from a two-week vacation. John Poole, president of the Federal- American National Bank, passed the week end at Atlantic City. Charles B. Lyddane, a vice president of the same bank, started on his vacation August 1. The leading investment and brokerage houses in Washington are having the new faster stock tickers installed. These tickers are supposed to take care of & 5,000,000 share day without getting be- hind. It is obvious that they are hav- ing no trouble in keeping up with pres- Howard Moran, 284 Am Internatl (2).... 90 Am Locomot pf (7). 36% Am Mach & Fy n w.i. 9 Am Mach & Metals. . % Am Metal Co (1%2).. 2% Am Pwr & Lt (31).. 23% Am Ra&Std San 1%. 15% Am Republics...... 48~ Am Rolling Mill(n2) 521 Am Safety Razor(5). 7% Am Seating. .... 53 Am Sm & Ref (4). 6% Am Solv & Chem 35's Am Steel Fdy (3). 697 47 Am Sugar Ref (6)... 274' 200% Am Tel & Telee (9). 2641 197 Am Tobadco (+12)... 2691 197 Am Tobacco B (112). 124 118 Am Tobacco B(new) 124% 120 Am Tobacco pf (6).. 141% 113 Am Type Fdry (8) 124% 7R% Am Water Wks (n1 106'. 99'% Am Wat W 1st pf(6) 20% Tl Am Woolen . 17% 6 AmZinc LA&Sm.... 443% Anaconda Cop (3%)« 19% Archer-Dan-M (2) 34% Anchor Cap (2.40)..e 4% Armour of Il (A)sem 2% Armour of Ill (B)..e 28 AssoDry G (3%)...1. 24215 194 Atch To & S Fe (10).. 108 102% Atch To & SF pf (F). 175% 145 At Coast Line (110). 51% 0% Atl Refining (12). . 106 101 251 Atlas Stores (n1). 91 Auburn Auto (34). 2% Autosales....... 37 Auto-Strop Saf R(3) 4% Aviation Corp of Del 19% Balawin Loco (1%). 122% 8% Balto & Ohlo (7). 110% 107 34 20% Barnsdall. A (2). 92 671 Beatrice Cream (4).. 57% 27% Bendix Aviation (2 56% 31% Best & Co (2) 110% 75% Bethlehem Ste X 134 122% Bethlehem St of (7) 41% 31 Blaw-Knox (1%)... 108 99 Bloomingdale 69 28% Bohn Al & Bra 90% 60% Borden Co (k3 501 23%: Borg-Warner (3) 25% 13% Briges Mfe Co. 221, 12% Brockway Motor Trk 78% 58% Bklyn-Manhat (4)... 15% 10 Brooklyn & Queens. . 178% 115 Bklyn Union Gas (5) 30% 13% Bruns-Balk-Col. 31% 19% Bueyrus (1) 33% Bucvrusev @). 112% 661 Rvers (A M). 114 109 Byers (AM) of (7). Callaahan Zine & Ld. Calumet&Hee(al%). Campbell Wyant (2) Canada DrvG A (6). Canadian Pacific(10) Can Pacific(new)w.L 362% 156'% Case (J 1) (i 3 115 C Dol (T Caterpillar Trac 60 9 Celotex Co... 65% 48% Cerro de Pasco (6! 15% 5 Certain-teed Prod. 241% 171 ox & Ohto (10) Ches & Ohlo (new) 10 4% Chi & Alfon. . . 10 4% Chi & Alton pf. 17 815 Chi Great Western F2% 27 ChiGreat Westn pf.. 26% 12 Chi M1l StP & Pae..» 46% 20% Chi M1l StP & Pae of. R9% 66 Chicago& N W () 140% 130% Chi & N W pf (T) 5 Chi Yellow Cab (3).. Chicl h Cotton Ofl Chrvsler Corp (3)... 49 38 City Tce&P (k3.60) 13% 5% City Stores (50¢..... 191% 133% Coca-Cola (8). ‘ 97 Colg-Palm-P pf (6).: 14% Collins & Afkman. .. 73 Collins & Afk pf (7). 3614 Col Fuel & Iron (3).. 584 Col'Gas& B (2)..... 91 Col Gas & El pf B(5) 104% Col Gas & El pf A(6) 15% Colum Graph (a28c). 199 108 Columbian Carb (16) 408 23% Comm Credit (3) 25% 22% Comm Cred of (1 55 28% Comm Inv Tr(g1.60) R 20% Comm Solvents (21) 20'% 104% 99 Cmwith & Sou pf (€) 57 38% Conde Nast Pub (2).. 19% 10 Congoleum-Nairn... 56% 30% Congress Cigars (4). 59% 36 Consol Cigars (5)... 226% 184 52 45% 1% 9815 110 27% “ongol Gas NY of (5) 74 Consol Textile. 52's 18'; Contl Baking (A)ecm g 3% Contl Baking (B). 71% 501 Contl Can (3%). 37% 16% Contl Diamond (2) 30% 40% 20 111% 871 Corn Prod Ref(t 33 15% Coty Ine.. 22 10% Crosley Radlo. . 59% 38 Crown Cork & Seal.. 93% ool (k5). o 117 ool DE (7). 19% 9 CubaCo. cvesee 9 4'% Cuban.Amer Sugar.. 48 3814 Cudahy Packing (4). 121% 114% Curtis Publish pf(7) 14% 6's Curtiss Wright Corp 19% 8% Curt Wright Corp A - 90's 55 Cutler-Hammer(3%) 20 Deere & Co pf (1.40). 45 Denver & RG W pf. 665 Det Hillsd &S W (4 21% Devoe&Ray A (1.20) Diamond Match (8 1031 100 25% 14 Eastn Roll Mill(312) 255% 176% Eastman Kodak (18) 1281 120% Eastman Kod pf (§).. 371 19% Eaton Axle &S (3).. 114% 55% Eles Auto Lite (i 79% 61% Eles Storage Bat (§). 59% 44 Endicott-John (5)... 113 107% Endicott-John of (7) 43% 10% Eureka Vac Cleaner.. 39% Fairbanks Copt..... Fed Lt & Trao pf (§) ent markets. Production of electric power by public utility power plants totaled 7,748,476,000 kilowatt hours in June, 1930, compared with 8,014,202,000 in May and 7768,- 900,000 in June, 1929, according to United States Geological Survey. NEW TARIFF ITEM. By the Associated Press. An_order in council, dated July 24, established a new tariff item in the Ca- nadian customs duty, with effect to January 1, 1931 The measure provides for the xmror- tation free of duty from all countries of sheets of iron or steel, cold roller, 7% Fed Motor Tr (80c. Fed Wat 8. A (€3.40) Df (6%4) 697 Firestone TR pf(§) 1'4 Fisk Rubber... 64 Fisk Rubber 1st pf.. 25 Follansbee Bros (3) . 60% Foster Wheeler (3) 11 Foundation Co. 16% Fox Film (A) (4) 37 Freeport. Tex (15). 5% Gabriel Snub(A)new 78% Gen Am Tnk Car(34) 16% Gen Bronze (3). 884 Gen Cable pf (7). 40% Gen Clgar (¢ 5Tm 55% 1% 111% 3814 109% 61 excepting those designated by the letter s (658) which shows those seocks to be sold in odd lots only. | Atlas Powder pf (6). Sfl; 102 2 (7). 30s 100 9 334 10s 102% 102% 102% 102 2 12% Comwlth & Sou(60e) 112 9374 76% Consol Cigar pf (7).. 20s 1867 96% Consol Gas N Y ¢4).. 241 110% 105% 110 (2658) Prev. Hish. Low. Close. Close. 27y 26% 2T% 26% 26 26 2T 30% 31 231 22% % 00, 23 1 26 1 30% 1 28% R Tl T 31 118% 117 118% 116 17 17 17 17 1%, 1% Db 1% 347 308 121 121 16 174 1 167 132% 129 497% 49% 99% 9% 444 44w 124 12% 385 8T8 35 TAN 71N 108 108 9 34% 34 93 38 9% 31 81% 2614 19% 551 61% 9l 6T 9 4 108 4 351 93 38% 9% 31g £4 267 39% 11 531% 211 2 210% 216 4 247 246 24Tt 245% 18 254% 252 254% 252 25 124% 123% 124% 123% 3124 128% 124 122% 1 126% 125% 1°Hle 125 6 93 91 084 92 1 104% 104% 104% 104% 20 10 10 9% % 51 21% 210 1 62 5014 6 15% 13% 597 A2 20% 4319 43 25% 3412 120 40%|. 5 3. W 4% 344 5 219% 219 | 219 2173 105 * 305 106, 146 146 146 375 36% 37% 3T 102 102 102 300 30% 304 30% 22 1244 121 123% 122 2 3% 3 3 957 17 6% 14 28% 27% 284 27% 11 103 1023 103 104% 8, Bamberger pf (63). 1508 109% 109% 109% 108% 53 24% 22% 23 2 82% 82M 8% 11 32% 31% 82% 7 46% 45% 46% 45 92 84% 81N B84 E1% 1 127% 127% 127% 128 1-34% 34% 34% 35 100 100 99 33% 33% 33% 8% T9% T8% 4 29% 29% 234 22% 16 16% 641 65 13% 134 127% 128% 125 614 16% 161 23% 23% 36 36 9% 9 B41 33y 33% 32% 234 82%, 31% 3 4129 1 16% 3 23% 214 2% 24 2 2 2% 17 72% 69% 1% 2% 2% 6914 10s 108% 108'% 108% 109 TR T N T 2 16 15% 16 15% 1 19% 19% 19% 19% 4 64 6315 63 64% 6186 185 186 186 1 46% 46 46% 46% 245 200'% 191% 200% 195% .. 308 126% 126% 126% 129 2 61% 61% 61% 61% 9 144 13% 14 1% 1 50 50 50 50% R e 2186 185% 186 185 1 46% 46% 46% 12 T4 6% 6% 7% 16 6% 6% 7 1 10% 11 1 381 39 6 143% . 14% 17 221 22% 1 76 73y 133 132 25% 20 52 30 29% 1 421 42% 42% 42 2 6% 6% 6% 6% 14 179% 176 179% 175% 1101 101 101 99% 12 26 24% 25 24% 1 8 85 85 87 17 53% bl1% 53k 51 25 64% 63 644 63% 1.9 91 .97 .91 2 108% 108 108% 107 7938 VI 136% 134 261 26% 26% 23% 28% 23% 35% 34% B4% 34% 55 26% 25% 26% 26% M4 1% 14 14 4 101% 101% 101% 101% 1 39% 39% 39% 40 13 12% 13 12y 29 29 30 38 39 39 84 B4 85 107 b 102% 102% 102% 102% 2 64 54 B4 b4 % 23% 3% 59% 18% 20% 24 921 21% 124 4814 3 29 2 39 84 1 23% 3% 59% 1 23% 3% 6014 19% 21% 24% 95% 21% 124 49% 1 24 3 608, 19% 24% 7 17 104 110% 110 12% 13 13 A% AN 4y 2 108 1 s 7 10% 1 13 €5% 42% Cuban-Amer Sug pf. 208 4214 4215 42% 424 1 40 1119 2 % 4 9 1 61% 26 23% 2 60 30s R0 1.8¢ 24 2% 5 30 240 224 239 226% B 98 21 % Sogk 42 117% 1154 117% 116% 3 1181 118% 1181 118% 1 10314 108% 108% 102% 1 15 15 15 15 30 212% 208 211% 210 10s 130 130 130 128 18 25 24% 24% 23% % 19 T% 3% 3% 3K 68% 24 70 40 119 T4 9% 61% 288, €0 80 391y 118% Th 10 61% 24% 59% 80 4 119 T4 % 61% 4T 4R 111 110% 12 12% 1 4% 1M 112 13 92% 8% 12% 92% 408 10s 34% 10s 1 54 1 29 43 148% 115 6 38% 18 108% 28% 51% 12 138% 4% 39% 89% 37% 66% 146% 40 107% 123% 98Y% 112 89% 40% Gen Milis (3). 37% Gen Motors (13.30) 92% Gen Motors pf (5)... 814 Gen Outdoor Adv. 30% Gen PublicSve (b6).. 11% Gen Realty & Otil. .. 65% Gen Refractor(t4 %) 30 Gen Theat Equip vta. 58 Gillette Sat Raz(nb). 10% Gimbel Bros. 15% Glidden Co (2). Glidden pr pt (1). 8% Gobel (Adolf).. 3414 Gold Dust (234) 2215 Goodrich (B F) (4) 54% Goodyear Tire (5). 90 Goodyear 1st pf (7).. 81 Gotham Silk Hosiery 6 Gould Coapler 5% Grabam-Paig .o 18 Granby Con Min (3). 30 Grand Stiver 8 (m1). 10 Grand Unfon. ... 34% Grand Union pf (3) 29 Grant (WT) (1).... 18 Gr NorcttsOre (a%. 15% Gr*. West Sug(1.40). 110% Grt West Sug pf (7 12% Grigsby Grunow. 37T} Gulf States Steel 26 Hackensack W (1%4) 50s 12% Hahn Dept Stores... 10 71% Hahn Dept 8 pf(6%) 10% Hartman (B) (1.20). 5% Hayes Body.... 70 Hershey Choc (6). ... 8315 Hershey Choc pf(15) 26% Holland Fur (et2%). 9% Houdallle-H (B)1.20 52% Houston Ol (b10%) . Hud&Man Ry (3.50, 25% Hudson Motor (6). 13 Hupp Motor Car (2} 118% Milinols Central (T 118 Illinois Cent pf (6 19% Independ Oil & G(3). 41 [nd Motor Cyele 8% (ndsan Refining 154% Ingersoll-Rand (16). 9t Insur ctfs(Md)(60c) _20% Interboro Rap Tran. 4% Intl Agricultural. 152% Intl Bus Mach (n6) 11 IntlCarriers. Ltd 5 Intl Combustio 80 Intl Comb Eng pf.... 50% Int Combust pf ctfs 76 Intl Harvester (3% ). 31% Intl Hydro El A (e3): 66% Intl Mateh pf (4)...e Intl Mer Marine (2) .. Intl Nickl of Can(1)w Intl Pap & Pwr (C).. 70 Intl Pap&Pwr pf (7). 36 Iatl Salt (new) .. 40% Intl Tel & Teleg (2) 18 Inter Dept Strs (3).. 14 Investors Equity(2). 31% Island Creek Coal(4) 70 Johns-Manville (3).. 108 K CP&L 1st pt B(6). 2214 Kelsey Hayes (2) 9 40% 3 28% 281 25% 29 9214 104 74 5% 21 21% Lago O1l & Tran 76% Lambert Co (8 105 Leh Port Cm pf (7). 1008 66% Lehman Corp (3).... 13 85 Liggett & Myers(16) 85 Ligg & Myers B(15). o 85% Loew's, Irie of 84 Loew's pfxw (6%) 3 Loft Inc 7% Long Bell Lu: 501 Loose-Wiles (12.80 16% Leorillard (P) Co.... 33 LouG & EI(A) (1%) 8 Louisiana Ofl. - 119 Louis & Nash (7)... 22 Ludlum Steel (2). 24% Mac And & F (12.85), 61 - McKeespt T Pl (15).. 18% McKesson & Rob (3. Mack Trucks (6). 09~ Macy (RH)&Co(n! 10% Madison 8a G (1%).. 28% Magma Copper (4). . 24 Man Elev mod g (d5) 31% Marine Mid (1.20)... 8% Marmon Mot (h50¢).. 35% Marshall Field (2%) T b - B PETTTS P T 27% e Quan 32 12 10 Mengel Co (2). . 80% Mengel Co pf (7). 164 Mexican Seaboard 15 Miami Copper (1%).. 22% Mid-Cont Petm (2).. Ofl et.: 8814 23% Minn & St Louis 12% Minn Moline Pwr 32% MoKan & Texas (2) 115% Missouri Pac pf (6).. 17 Mohawk Carpet.. 35 Monsanto Ch (g1%). 31 Montgom Ward (3).. 18 81% Morris&Essex (3%). 50s 1% Mother Lode (20¢)..; 1 3% Motor Meter G & El.. 1 34' Motor Products (2) 1 8 Mullins Mfg 40 Mullins Mtg pf (7) 121 Murray (b3 %stk) 124% 17% N 05 0 R N N 5 O B et e D0 e 03 43% 8% Natl Bella Hess. 71 Natl Biscult, n(3.80). 42% Natl Cash Reg.A(14) 45% Natl Dairy (12).... 32 Natl Pwr & Lt (1). 53 Natl Steel (2).. 113 Natl Supply pt (7). 24 NatlTeaCo (2)....o 35% Nelsner Bros (1.60).. vada Copper (1% ) 4 10 v. Low. Close. Close. 45 13% 35 L, 3% 17% 39% 40 3 3 28% 28% 278% 284 26% 25% 28% 290 0% 92% 104 104 3% 74 94 94 95 95 o 27 68 69 70% 72 106 106 97 97 FLE Y % % 61% 62 23% 23% 118 118 26% 2T% 32 1% 37 134% 25 13% 14 881e 881 224 . 23% 32 12 124% 124" 17% 17% 43% 43% 13 13 51% B51% 1% 17% 85% 35% 19 20 " 84% 454 63 46% 57% 108 27 4 44 16% 16% 36% 85% 162 166 9% 86 46 5d% 4% 57% 108 27 % 107%_107% 17% N Y Invest (1.20) & Wst ( 100 N Y St 83 Norfolk & Wn pf (4). 108 7% North Am Aviation.. 37 87% North Am(b10%stk) 61 51 North Amerpf (3).. 3 100% North Am Ed pf (6).. 66% Northern Pacifie (5). 10 9% O11 Well Supply. 86 OIl Well 8 25 Otis St 45% Owens 111 Gla: 52% Pacifio Gas & El (2)a 72 Pacific Lighting (3). 121 Packard Motor (1) 48% Param'nt Publix (4). 2% Pathe Exchang 5 Pathe Exchange 17 Patino Mines. 26 Penick & Ford (1)..e 48 Penney (JC) (3)...e 69% Penna RR (4). 94% Pere Marq pr D! 184, Petrol Corp (1%) 2914 Phelps Dodge (3) 11% Phila Read C & 1. 29% Phillips Petrm (n; 2% Plerce Petroleum. .. 9 P Rican Am To (B) e Pr Proctor & Gamb(2. f(5) 0) .. % 52% 105% Proc & Gamble 8114 Pub Berv.NJ 91% Pub Serv N J of (5).. 107% Pub Serv £&G pf(6)., 62 Pullman Corp (4)... 1% Punta Alegre Sugar.. 19% PureOil (1%).. 52 Purity Bakeries (4). * 32% Radio Corp 8 Radlo Corp Radlo-Keith-Orph 70 R R Sec’lC stk C(4) 28 Raybestos Man 3.6 00 Reading Rwy (4). % R 86 Republic Steel pf (6) 28 Reynolds Metals (2). 45% Reynolds Tob B (3). 14% Richfield O1l (3. 16% Rio Grande Oll (3).. 274 Rossia Insur (3.30 49% Royal Dutch a3.31 20 . 101 19% 19% 107% 107% 104% 106 119 119% 101 85% 85% 9 914 98 101% 66 55 104% 104% n% 72 21 21% 104 104 45 46% 961 1% +35% 12 TN 3216 8319 114 MONDAY, STOCKS IRREGULAR ON QUIET TRADING Market Hardens After Lead- ers Resist Early Wave of Selling. BY CLAUDE A. JAGGER, Associated Press Financial Editor. NEW YORK, August 4.—Opposing speculative groups took turns today trying to arouse the slumbering stock market, and the bulls managed to stir up a flicker of life, but achievements were modest, indeed. Resumption of activity at the auto- motive manufacturing centers and a slight acceleration of steel mill activity in the Youngstown area were reassur- ing, but failed to bolster the bull cause effectively. Trading was about as slug- gish as it was last week. Reports of severe crop damage in the Middle West buoyed up the grain mar- kets, which helped stocks a little. The stock market, however, could | not interpret the news very bullishly on | the basis of information now at hand, for unless the advance in grain prices is sufficient to compensate for smaller crops, farm purchasing power will suffer. Further selling appeared during the morning, when bears endeavored further to depress the utilities. Losses of a point or two were numerous, but bear- ish activity was rather timid, and re- sumption of activity in Radio and a few other shares by the group of bull operators, who have been directing the forward movement of late, reversed the trend before midday Public participation in the market remained negligible, however, and few market letter writers or advisory serv- ices felt justified advocating much but sidelines policy. Moody's pointed out that there is as yet no means of gaug- ing the extent of the expected seasonal recovery in business, and Standard Statistics found the economic back- ground _“distinctly’ unfavorable to large-scale bullish “operations.” The Harvard Economic Society. continued optimistic over the -prospects for busi- ness recovery. The revival of pool activity in Radio was accompanied by board room gossip to the effect that the first half report of the company, expected within a few days, may not be as bad as has been forecast. Expectations are, however, that the company little better than broke even, and the market activity ap- pears to be based largely on the im- proved outlook for the remainder of the year. 2 There was some calling of loans, and call money was firm at 2 per cent. For- eign exchanges moved uncertainly, but further gold exports were widely an- ticipated. Sterling cables are now close to $4.87Y INVESTMENT TRUSTS NEW YORK, August 4 (P).—Over- the-counter market. Afliated Inv Inc...... Inv New Unit Founders Founders Amer Ins Stocks.. Chartered Invest, d_Invest ‘bf. ange A Diversified Trustee Shares A Diversified Trustee Shares B. Diversified Trustee Shares C. Guardian Invest . Guardian Invest B Guardian Invest ww Gude Winmill Trad. Investors Equities Incorporated Inves nt Secur Corp Am A nt Secur Corp Am B. Jot Secur Cors Am [} nt Secur Corp Am 6 Investment Co of Am. Investment Co of Am bf. Investment Trust Assoc - .. Only 160,000 now receive unemploy- ment aid in Austria. FIRST MORTGAGE REAL ESTATE BONDS Firm Bids Obtained . W. Strauss & Co. FIIP:"I':I 'Méf; 0. Fude 3 Frapire Bond & Mig. Co. Suarsnieed, Sod s Mie. Co, ' Bon 3 Sommonwealth Bond Corp. L. Mi Co., INTERNATIONAL BANK Investment Securi let Tel. Disirich Ohes 16 Jackson Place District 0866 AUGUST 1930. 4 a, FOREIGN BUSINESS CONTINUES QUIET July Activities Quiet in Prin- cipal Centers Abroad—Un- employment Grows. Special Dispatch to The Star. NEW YORK, August 4.—Cable dis- atches to the Business Week give the ollowing survey of business abroad for the week ending August 2: Europe—July has brought no recovery | to business in Europe. Rather business has lost ground virtually everywhere, according to month end reports. Hopes were beginning to be expressed that de- pression had reached the bottom, but continued Summer weakness in com- modity prices has disappainted the be- lef that the worst is past. Reports of | incipient improvement in the United States are eagerly noted, since the opin- ion is widely held that the United States | must lead in any recovery. Local problems absorb the introspec- tive attention of individual countries England i approaching the time to de- cline either to eontinue or to abandon the traditional policy of free trade. Germany is wrestling with fiscal prob- | lems and price wage ratios. France now is beginning to experience disturbances in the price structure. First crop re- ports from nearly all countries indicate no more than’ average totals. In France and Italy crops are not. expected to be even average. Eastern European countries are con- tinuing negotiations towards the forma- tion of an agricultural entente. Representative nitrogen producers, after holding prolonged sessions in Paris, | are reported to have reached an agre ment on production quotas which is not unlike the arrangement in the steel cartel, German, British, Belgian, Ital- jan, Polish and Czech manufacturers were represented. Earliest reports received indicate that Germany and* Great Britain, as the largest exporting countries, would re- duce their output, while France is left free to develop French produckion of nitrogen to the full limit of internal consumption. A significant development of the con- ference is the creation of a joint fund which will be established among the participants. , Payments will be fur- nished on a percentage assessment on production. It is jntended that this fund will compensate and equalize the inability of any producing nation fully to meet production quotas. If it is possible to inaugurate the scheme, it is expected that some agreement will be reached with the Chilean natural nitrate industry. Delegates from Chile are already in Europe. Business conditions are universally featureless. Great Britain—General business is flat. with no demand and no confidence. Unemployment is increasing in the ) major _industries. Commodity _prices | are falling. The slight improvement in cotton continues. Engineering in gen- eral is down, but locomotive builders are holding their ground. The Horden Collieries, employing 2,000 men, have closed, June exports to the United States were 20 per cent below June last year. Home railroads show decreased traffic for the first half year. All were able to maintain interim dividends, but the London, Midland & ttish is paying a low record dividend of 1 per cent, compared with 2 per cent last year. A | wage-cut war with the unions is an- ticipated. The city is attaching considerable significance to the offer by the Royal Bank of Scotland to buy the Willians Deacohs Bank of Lancashire. Readiness of the cautious Scots to back Lanca- shire’s future was unexpecte¢ but not unwelcome. A government mission, which includes a representation from the cotton manufacturers financed by Lancashire interests, will leave in mid- September for a survey of business in the Far East. The rayon industry is disturbed over the price cut by Amer- ican Viscose and the proposed increases in the Spanish tariff. British produc- tion at the end of June was 24.2 million pounds in comparison with 26 millions in 1929 and 27.1 in 1928. At least 30 per cent of this decrease is due to the decline in exports of ns and fabrics. France.—Economic " conditions—espe- cially the price structure—are becoming more unsettled and disjointed. Though general wholesale prices are following WASHINGTON SECURITIES Street Railway Electric Light Gas Earnings Bank Statistics Valuable information re- | | garding these and other| | Washington companies con- tained in our booklet. Facts and Figures on Washington Securities | Just Issued Free Upon Request Y. E. Booker & Co. Investment Bankers 1508 H Street of Columbia and . L. Rust Safe-Profitable-Convenient First Mortgage Notes secured onconservatively ap- praised properties in the District land suburbs. Permit us to offer our facilities for the placing of your investment funds. .. Par- ticulars of available notes mailed on request. 1001 Fifteenth Street g ESTABLISHED 1889 adjacent Mary- Company National 8100 FINANCI the world downward trend, agricultural E:lcu advanced sharply behind recent creased tariff protéction, and food- stuff prices, general retall values and living costs are rising. The first at- tempt to enforce the new social in- surance law, whereby employers and employes each contribute 4 per cent of wages, has provoked strikes in the textile and metallurgical centers of Lille, Roubaix and Tourcoing. Some 50,000 workers are involved and refuse to pay the premium without salary in- creases. The strikes so far are sporadic and lack determination. Skyrocketing wheat prices center business interest. With wheat selling at $7 a hectoliter this week, it stands 45 per cent above the price in May. This sudden reversal in the world trend is due to the progressive increases in *we \ A—13 AL, wheat duties in recent nonth;md o tional exports. prospect of a subnormal new crop of inferior quality. ~Momentarily, ~the eagerness of miils to secure spot stocks of dry grain is meeting with the specu- lative boar by sellérs. The gov- ernment already has in the per- missible admixture of foreign grains with local flours from 3 per cent to 10 per cent, and a subsequent reduction in | duty is not improbable in order to check rising bread prices. | The price disturbance apparently has | not yet affected general industrial a tivity. The metallurgical _industries, | particularly, continue at a surprisingly high rate of activity compared with the widespread contraction in most Euro- pean countries. National Metropolitan Bank 15th St., Opposite U. S. Treasury 1814—Oldest National Bank in the District of Columbia—1030 ger business o] nities. service abreast of all mate needs, freely posal. dblo-opere Organized 1879 JOHN JOY EDSON, President Assets.....c.......85723,083.61 Subscription for the 99th Issue of Stock Being Received Save Methodically ! Small consistent - Saving s the best method TH More Ample Banking —facilities’ mean big- pportu- “Metropolitan” keeps well legiti- and is at your dis- 3% on Savings B. Assn || 50th YEAR COMPLETED ‘WALTER 8. PRATT, Jr., Secretary Surplus & Profits. ..$1,755,911.57 We will explain our method « | 1[ 7 J | gladly! AT FEELING OF SECURITY You can appreciate what a satisfaction it must be to feel that no matter what the future holds Over a Third financi of a funds. 6% Century Without a Loss make in store, provision for your ial ease has been provided in safe investment of surplus Our FIRST MORTGAGES offer the investment which will this expectation a reality. May be purchased in amounts from $250 up. B. F. SAUL CO. National 2100 THERE 925 15th St. N.W. IS NO SUBSTITUTE FOR SAFETY The One Way Street “A one way street”—picture in your mind a street filled with automobiles, trucks and busses, all moving in an or- derly manner in the same direction. No traffic snarls—no slowing up or turning out for traffic, bein JUST STEADY PROGRESS. what safe investme: Now picture a stree rushing along in a fusion. For a time stops, and then goe: g recklessly driven— That is nt means. t in which traffic is hodge-podge of con- it proceeds rapidly, s ahead again, care- lessly speeding to make up for lost time. Collision and loss result. That is the highway of speculation with its many turns and twists an d frequent disasters. Sound investment is a one way street, leading to certain, steady income and un- failing safety of principal—a straight road to financial cent First Mortgage progress. The Notes, 6 per offered through the Swartzell, Rheem & Hensey Company, are investments that travel the one way street of steady income and safety of principal. In more than 61 years, through depression and panics, through finsncial Notes have zg:er fl traffic jams, these uctuated a penny in value and interest has always been sent out by us the day it was due. SWARTZELL, RHEEM & HENSEY CoO. MORTGAGE BANKERS 58% Bateway (e8) 90 Bafeway pf (| (Continued on Page 14)s 95% _60% Gen Electrie ( 11% " 11% Gen Elec apeo (§90) .. 614 46% Gen Food Corp(8)..s 10 ~18% 8 GenGas&El Afe30); 8 When imported by manufacturers for use exclusively hyua manufacture of sheets coated with tin factories. . 727 15 STREET N.W. / s WA.BING'I‘:N D.C. Ledll