Evening Star Newspaper, August 16, 1930, Page 10

THE EVENING STAR, A ¢ FINANCIAL. BUSINESS REMAINS QUIET DURING WEEK Trade Reviews Find Recu- perative Processes Are Functioning. ‘The genecral business situation still Note—All stocks are sold in one hundred-share lot exceptiing those designated by the letter s (80s) (2508) which shows those stocks to be sold in odd lots only. ~Prev.1930—~ St @ Sales— Prev. Dividend Rate. Add 00. Hish. Low. Close. Close. Adams Kxp ¢1.60). 7 2p% 26% 25% 26 Adams Expr's pf (5) 10s Addressograph (1%) 1 Advance Rumley pf. 1 ¢ 2 Alr Reduction (3)... Bls 117% Alr Wav T1 Ap(23%4). 7 %o 18 Ajax Rubber.. m ¢ Alaska Juneaun 5% Albany Wrap Allegheny Corp. ... remains spotty, the stock market trend Alleg Cp w $30 w 6% downward and elements of uncertainty exist on account of the drought, recent rains and cooler weather, but recupera- tive processes still are functioning, ac- cording to weekly reviews of the agen- cies, R. G. Dun Co. and Bradstreet’s. “Seldom at one time,” says Dun & Co., “have so many influences com- bined to repress activities as in the present instance, and it is not consid- ered unnatural, with severe crop dam- age as an added deterrent, that cau- tion should be accentuated. The exist- ing hesitation does not imply any ques- tioning of ultimate recovery, but modi- fication of earlier views as to the date of decisive revival has been necessitated | by subsequent developments.” Unusual Aspects Shown, “The unusual aspects of the com- mercial situation,” says Dun & Cc “are being manifested in numerou ways, with restraining forces, rather than’ stimulating factors, still having the greater weight. That is a quite normal phase at this period, vet the seasonal slackening is intensified this year, and a new element of uncertainty has ‘arisen from the recent widespread and_serious drought. “One of the promising portents is the reduction in stocks of different goods which has followed the sharp decrease in outputs, the Ccloser. align- ment between production and consump- tion obviously having a significant bear- ing upon the future. Thus, although the immediate results are disappoint- ing, the long-range outlook has points of strength whose effects should be more plainly revealed with the passing of time.” . Bradstreet’s finds that “benefits to retail trade and crops, due to rain and Jower temperatures, ~outside of the South,” are partly offset by “uncertain- tles as to just how much of the July and August damage has been repaired.” “Cooler weather has unquestionably helped retail trade, this mainly in dis- posal of Summer goods at ‘sales,’ and in some areas a slight picking up of in- dustry is noted, over against which is noted the growth of uncertainty in buy- ing and prices of iron and stesl, which it may take the September 1 crop re- ports to decide,” this agency continues. “In the fron and steel trade the bene- fits of the enlarged activity in automo- bile production are balanced by easier prices for some finished steel and pig iron, whereas steel scrap and coke are reported firmer at some centers. A 50 1o 55 per cent capacity is noted in the trade as a whole. The pip> and tube oducers are active, some good crders | for_tractors are helping trade in bars and agricultural implement men aie re- ported planning resumption. In lumber, production seems to be 40 to 50 per cent off the peak. Building Reports. “Building reports to Bradstreet’s note & gain over June at New York City. but this improvement does not. seem to carry outside thereof, with decreases still vis- ible from July a year ago. In the tex- tile trades, the feature of the news in cotton goods is the low ebb shown in cloth manufacturing in Jul In non- ferrous metals, there are reperts of the 11-cent price for copper being shaded, with zinc and tin also easier. In the motion picture industry, operations are said to have reached and passed their peak at the Pacific Coast center. “In the coal trade, the commercial stocks of bituminous coal are reported ! the lightest in eight years, but current operations are light.. In anthracite coal the renewal of the wage agreement has helped things generally.” Heard in Financial Distriet. W. H. Lipscomb of Washington and Allled Ch & Dyein6). 4 Allis-Chalmers (3).. Amerada Corp (2) Am Agricul Chem. .. Am Agricul Ch pf... Am Brake Shoe(2.40) Am Br Sh & F pf (7). Am Brown Bov Elec. Am Can (4)... Am Car & Fdy (6) Am European Secur. Am & Forn Power. .. Am & For Pwr pf( Am Internat! (2). Am La Fr & Foamite Am Locomot nf (7). Am Mch & Fou Con. Am Mach & Metals. . Am Pwr & Lt (21) Am Pwr & Lt pf (6).. Am P&Lt pf A 8t(5). Am Ra&Std San 13%. Am Republics Am Rolling Mill(n2) Am Safety Razor(5). Am Ship & Com. .... Am Sm & Raf (4). .. Am Sm & Re!pf (6). 4 Am Steel Fdy (3)... Am Tel & Telog (9). Am Tobacco 3 (112). Am Tobacco B(new) “ Am Water Wgs (n1) 2 Anaconda Cop (3%). Archer-Dan-M (2).. Armour of I1! (A) Armour of 111 (B) Arnold Constable. . .. Atch To & S Fe (10).. Atch To & SF pf (5). Atl Refining (12). Atlas Stores (nl1)... Auburn Auto (§4)... Auto-Strop Saf R(3) Aviation Corp of Dal Haldwin Loco (1%). 1 Baldwin Loco pf (7) 130, Balto & Ohfo (1) Barnsdall. A (3).. .. B'trice Cream pf (7). Bendix Aviation (2). Best &Co (2)....... Bethlehem Steel (8). % Borden Co (k3)..... Briggs Mfg Co. . Brockway Motor Trk Bkiyn-Manhat (4). . Bklyn Union Gas (5) Bruns-Balk-Col..... Bucyrus (1).. . Bueyrus cv pf (2%). Bucyrus pf (7). Budd (EG) (1), Budd Wheel (1) Bullard Co (1 60 Bulova Watch (3) Burr Add Meh (1) Bush Termnl (2% Butte Superfor Bye Callaahan Zine & Ld. Canadian Pacifie(10) Can Pacific(new)w.1, Cannon Mills (1.60). Case (J 1) (6 . Caterpil Tr (13%) Celotex Co...vuvrvas Checker Cab (4.20).. Chesapeake & Ohio. . Chi & Alton pf. - ° ORIV, o Y- ORI~ TTRPORSY - OVOPIING Uy -1 (Y o E wakansaee Chi M1l StP & Pac. .. Chi M1l StP & Pae pt Chi Pnen Tool Chi R 1 & Pac pf (7). Chickasah Cotton Oil Chrysler Corp (3)... City Stores (50e. ... Clark Equipment (3) % Collins & Alkman. Colonia! Beacon Col Fuel & Iron (3). Col Gas & EI (2).. Col Gas & El pf A(6) Colum Graph (a28c). Columbian Carb (6) FY B T New York, a son-in-law of the late Samuel Ross, has been elected a direc- tor of Barber & Ross, Inc., it was an- nounced today by Harry Blake, president of the company. Mr. Lipscomb is presi dent of the Dubilier Condenser Corpor: tion, with offices at 342 Madison avenue, New York. He has a home at Great Neck, Long Island, and also at 2324 Massachusetts avenue, this city. He came from Manassas, Va. and was located for a time at Norfolk, and was formerly with the United States Steel Export Co. of New York. Claude Woodward, president of the Mount Vernon Savings Bank, has re- turned from a month’s vacation at Old Orchard, Me. Alfred E. Lewis, jr. formerly of G. M. P. Murphy & Co., has joined the sales staff of Crane, Parris & Co. Washington Produce Butter—One-pound prints, 425a431%; tub, 41152423, : Eggs—Hennery, 28; current receipts, quality inferior, prices not quoted. Poultry, alive—Spring broilers, large, 32a33; medium, 28a29; small, 24a25; Leghorns, 23a25; fowls, 21a23: Leghorn fowis, 14a15; ducks, 15. Dressed— Shipped in, iced, Spring broilers, 35a3 medium, medium and small, 25a27; fowls, heavy, 25a26; medium, 23a24; Jobbers'_home-dressed . 37238; medium, ; Leghorn: fowls, 24a25; horn fowls, 30a22; ducks, 24a25; turkeys, 34a35. Meats, fresh killed—Beef, 18a20: veal, 15a16; lamb, 20a23; pork loins, 25a26; fresh hams, 25: fresh shoulders, 18a2! s, 27; smoked shoulders, 2 lard, in package, 12; in Live stock—Calves, 9; lambs, 8. Fruits—Watermelons, 25a75; canta- loupes, crates, 1.75a2.35; nearby, two-| peck baskets, 1.001.50; honeydews, 2.00; honeyballs, 2.00a4.50; Persian melons, standards, 1.8582.00; apples 50a).50; box stock 3 oranges, | 6.0028.50; lemons, 8.5 2252250 per 100; pineapples, 3.504.00; black- berries, 5.0025.50: hucklcherries, 5.00a 550; biueberries, Nova Scotia, per quart, 35a40; grapes. red Malagas, 2.75; Thompeon seedless, 1.75. Vegetables—Potatoes, 3.00a3.50; sweet potatoes, 6.2507.00; tomatoes, Acme’s, 1.25; red, 1.00; cuils, 50; cabbage, 90- pound sacks, 2.50: peppers, 1.00a1.25: caulifiower, 2.5004.00; cucumbers, 2.00; corn, five-dozen sacks, 2.50; okra, 1.00a | Com Credit 1st (6%) Comm Cred pf B 12). Com Inv T cv piie6) i« Comm Solvents (11) Comwlth & Sou(60c) Cmwith & Sou pf (6) Congolenm-Nairn. ., Congress Cigars (4). Consol Film (2)..... Consol Film pf (2).. Consol Gas N ¥ (4). Consol Gas NY pf(6) Consol Textile. Contl Baking (B), Contl Can (2%) Contl Diamond ( Corn Prod Ref(t4%) Coty.In€...coc00 o Cream of Wht(12%). Crown W P 1st pt(7) Cuba Cane Products uba Co. . 4 Cudahy cking (4). Curtiss Wright Corp Curt Wright Corp A. Cutler-Hammer (3% ) Davison Chemical. . & Co pf (1.40) © & Hud (9). Detroft Edison (8),., Dom Stores (21.20)., Drug Corporatn (4). Dunhill Int) (34).... Du Pont de N (14.70) Fastn Roll Mill(ht2) Eastman Kodak (18) Eaton Axle & § (3).. Eitington-Schild pt Eleo Auto Lite (6), B Pwr & Lt (1 ureka Vac Cleaner. Fairbanks Morse (3) First Nat Strs (3%). Foster Wheeler (2).. Fourth Natl Invest. . Fox Film (A) (4).... Freeport Tex (16).. Gardner Motor. ..... Gen Am Tnk Car(34) en Asphalt (4)..... ien Bronz Gen Electrie ( Gen Elec spec (60c) . Gen Motors (13.30).. 2 Gen Motors pf (5). en Ry Signal (5). Gen Realty & U1, n Refract (+4%) n Steel Cast pf (6 Gen Theat Equip vte Inspiration Cop (2). % Interboro Rap Tran. Interlake Iron (1). Intl Agricultural. Intl Agricul pf (7 Int] Bus Mach (né) Intl Carriers. Ltd % . Intl Combusti Intl Harvest: Intl Hydro El A (e2) Tntl Mateh pf (4).... Intl Mer Marine (2). 4 Intl Nickl of Can(1). % Intl Pap & Pwr (B).. Intl Pap & Pwr (C).. Intl Printing Ink (3) Int Prig Ink ctfs (3) Iatl Salt (new) 12).. Dpt § pf xw(7) Investors Equity(2). Island Creek Coal(4) Jewel Tea (14)....0n Johns-Manville (3).. 4 Kayser Jullus (2%). Kelly-Spring Tire Kelsey Hayes (2) Kelvinator Corp. Kennecott Cop (3).. Kinney (GR ) pf (8) er Radio. . (SS)Co(1.60) Kreuger & Toll 1.60. Krog Gr & Bak (n1). Lehman Corp (3) Lehn & Fink (1), Lib Owens F G1 (1) ,, Ligg & Myers B(15). Liguid Carbonia (4) . Loew's. Ine (3).. Loose-Wiles (12.30). Lorillard (P) Ce Louisiana Ofl....... LouG & EI(A) (1% Louls & Nash (1) Ludlum Steel (2) MecGraw-Hill (2) spt T Pl (1 McKes & Ro pf(3%) Macy (RH)&Co(nt3) Madison Sa G (1%4). Mallison & Co... Mandel Brothers Marine Mid (1.20). Marlin-Rock (15%).. Marshall Fleld (214 ) Mathieson Alkil) 12), May Dept Strs (n2).. Maytag Co 1st pf (6) Mexican Seaboard. .. Mid-Cont Petm (2) Middle Stat Minn Moline Pwr.... MoKan & Texas (2).. Mo Kan & Tex pf(7). Missour| Pac pf (5).. Monsanto Ch (g1 Montgom Ward (3).. Moon Motors. Morrell & Co (4.40) .. Mother Lode (20¢). .y Motor Meter G & El.. Motor Products (2).. Mullins Mfg. Murray (b %stk). Nash Motors (4) Natl Bella Hess. Natl Biscult, n(2. Natl Dept St Natl Distiliers (2).. Natl Pwr & Lt (1)... Natl Steel (2). . Natl Ten Co (2)..... Nevada Copper (1%) Newport Co (A) (3). N ¥ Central (8)..... N Y NB & Hart (6). N Y Ont & Western. . N ¥ Steam pf (8).... Norf & Western (10) North Am Aviation. . North Amb10%stk) Nérwalk Tire & Rub. 011 Well Supply. 01l Well Sup pf (7)., Oliver Farm Equip Oliv Fr Eqpf A (6).. Otis Elev. n(2%).... Pacific Gas & El (3) Pacifie Lizhting (3 Packard Motor (1) PanhandleP& R.... Param’nt Publix (4). 5 Motor Car.. Penick & Ford (1). Penney (J C) (3) Penn Dixls Cement. Penna R R (4). Petrol Corp (1%4). Phelps Dodge (3). Phila Co 8% pf (3) Phila Read C& 1 Phillips-Jones Corp. Phillips Petrm (n2 Pittston Co (37%¢) . P Rican Am To (B).. Prairie Of] & Gas(2). Prairie Pipe L (15) Proctor & Gamb(2.40 Pub Serv.N J (3.40). Pub Serv N J pf (8).. Pub Serv N J pf (6).. Pullman Corp (4). Pure Of] (1%). Purity Hakeries (4). Radio Corp. . Radio pf A (3 Radio Corp (B) (5).. Radio-Keith-Orph A. Raybes an 2.6 Reading Rwy (4). Rem Rand (1.60).... Reo Motor Car (80c). Republic Steel (4) ... Republic Steel pf (6) Reynolds Spring.... Reynolds Tob A (3). Reynolds Tob B (3). Richfield Of) (2) Rio Grande Ol (2) Royal Dutch a3.2165 Sateway (eB) St L-San Fran St L Southwestern Schulte Retail Strs. Seaboard Alr Line. .. Sears Hoebuck($2%) Second Natl Inv..... Seneca Coppe: Servel. Ine. Shattuck (FG)(11%) Shell Unlon (1.40)... Shell Un Ofl of (5%) % Shubert Theatres. Sinclair Con O (2) Sinelalr Ol pf (8).... Skelly O11 (2)... . Solvay Am pf(6%).. Sou Porto Sug (1.40) Southera Pacific (8). Southern Rwy (8)... Spalding (A G) (2).. WASHINGTON. D. C. t (7). 1108 18 81 o M PE-TOTOI0L PRSIWVITIOPOTN 100 T FISTOITIoTee; o) PV o vi te. d 00. H Union Carbide (2.60) 45 7 Union Paeifie (J0)... 1 21 Utd Afreratt. . Utd Biscuit ( Tnited Corp United Corp pf (3) Utd Dyewood . Utd Stores (A) 1td Strs pf (62%e U S Distribut pf (1), U S Express. U S & For Secur. U 8 Aleohol (17) Leather pr pf(7) Plpe & F (3) Realty (5) Univ Ple 1st pt ( Univ Pipe & Rad Util Pwr&Lt A (e2). Vadasco Sales Corp. Vanadium Stl (14).. 1423 SATURDAY, AUGUST 16, 1938. eh. '3 3 Wesths Wilcox 12% Yeliow Dividend rate: cash payments based tions. P 2% | 2Paid this year—no 89'% | when earned. 414 | stock. ‘g Plus 6 per 231, | ) Plus 8 per cent in per cent in stock. n Plus 5 per cent in stock. p Plus in West Penn E pf (6). West Penn Pw pf(6). Western Md......., Weatern Union (8 Westinghse 4 B (1), 4 Westinghse E&M (5) Weston El Instr (1), White Sewing Mach.. Willys-Overland. Woolworth (3.40). Worth Pump. .. 114% 677 Wrigley (Wm) (4), 5% 5% Zenith Radlo. g AR g 's as given In the above table are the annual ding less than 100 shares. tPartly extra. iPlus & §Payable in scrip. iPlus 9 per cent in stock. e Payable in cash or stock FINANCIAL. o E&M pf (5) Rich A (2% Truek..o.... 2% 21% on the latest quarterly or half yearly declai regular rate. b Payable in stock. d Payable {Plus 10 per cent in cent in stock. hPius 2 per cent in stock. stock. k Plus 3 per cent in_stock. m Plus i | ADVANGE IN STOCK PRIGES CONTINUED Market Hardens and List Again Points Upward After Early Losses. BY GEORGE T. HUGHES. Special Dispatch to The Star. WALL STREET, New York, August 16.—Hesitant and lower at the start, today’s market turned sharply upward again after an hour or so of trading, under the same kind of buying that brought about Friday's recovery to the great distress of the short interest. After the spectacular uprush of Fri- day, today's opening was a tame affair. | Most of the active issues were lower, particularly those which made the largest gains in the advance of the day before, ~Selling came from speculators who deemed it a good opportunity to liquidate after so vigorous a rally and from a few bearish traders who claimed there had been no trade improvement | to justify the recovery. Bidding Up Process Resumed. The market dragged along for nearly an hour in this uncertain state, but activity did not increase on the decline, and gradually the list hardened, the bidding up process was resumed and the pressure on the shorts, of which there were a large number remaining, reappeared. At the start Radio was heavily of- fered and dropped back a couple of points, reflecting the showing in the six months' earnings statement, with preferred dividends not fully covered and, of course, nothing for the com- mon. Then support appeared, presum- ably from the newly organized group working in that stock, and the price came back. United States Steel, Amer- ican Can, Consolidated Gas, General Electric and Westinghouse Electric to a greater or lesser degree went through the same maneuvers. Lower during the first hour, they pushed ahead con- | fidently later on. ‘There is no doubt that the campaign against the bear party was deliberately planned. There is liitle doubt that it succeeded better than iis sponsors ex- pected. It was accompanied by the same kind of rumors which are em- ployed to further any stock market manipulation. That there was any | sudden change in the business outlook Friday afternoon sufficient to bring about any such violent recovery in the market cannot be maintained. Wheth- er or not the new trend can be con- tinued depends entirely on trade de- velopments. - Buying Is Active. Besides the stocks already mentioned, | buying went on actively in Vanadium, Union Carbide, Standard Oil of New Jersey, American & Foreign Power and Electric Power & Light. Special strength was exhibited by American Agricultural preferred, the forthcoming annual report on which is expected to show Increased earnings. The stock Tan up 4 points on reiatively small volume, a large gain for an issue in its price range. NEW YORK-COTTON NEW YORK, August 16 (Special).— Cotton made new low records for the year again today, with a sharp break of 30 points under a continuation of | the selling movement which has been in progress throughout the week. May contracts broke below the 12- cent level in final trading, with the list at the bottom 30 points lower than Fri- day. All deliverles, with the exception of July, closed under 12 cents, with October at 11.35, or a cent and three- quarters below best figures of 10 days ago. Spots were reduced 30 points to 11:60. Cotton range: Qclober, new.. December, old. i o8 283> 25838 BY GEORGE T. HUGHES. (This is the thirtieth of & serles of brief analyses by Mr. Hughes on railroad securities. The intent is not to recom- | mend the purchase or sale of any par- | ticular stock. but to give the investor | sueh information as may enable him | intelligently to chart his own course.) Norfold & Western. Norfolk & Western is one of the most prosperous American railroads. Its bonds are investments of the highest type, its preferred stock is suitable for the most conservative and its common stock stands in the first rank of railway shares. The road depends for its traffic largely on bituminous coal, which is | estimated to supply three-fourths of | freight tonnage. Ordinarily a railroad | dependent so largely for its income on | profits from carrying one kind of com- modity is handicapped, but that does not seem to have been the case with Norfolk & Western. ‘There are two classes of stock out- standing, a 4 per cent non-cumulative preferred and a common, both of $100 par value. Of the $23,000,000 preferred | the Pennsylvania Railroad owns $12.- 452,000 and of the $140,650,700 common the Pennsylvania owns $21,656,000, giv- ing that road not control but a domi- nating interest. The preferred stock, which is not callable and has equal voting power with the common, sells to yield not much more than a high-grade bond. For all practical purposes it is as safe as & high-grade bond. In 1929 sarnings avallable for the preferred were equal to $181.74 against the $4 i On the common the present dividend rate is $10 annually, which even under present trade conditions is being cov- ered more than twice over. Dividends have been paid on the common at rates varying from $2 to $12 a share since 1901. Stockholders received their high- est return last year when the rate was $8 regular and $4 extra. ‘The future depends, of course, on served as well as the country at large and the market price of the stock will fluctuate accordingly, but it may be considered one of the best of railway common stock investments. MTLROAD INCOME. net operating income of 172 class 1 raflroads, including 16 switching and terminal companies, totaled $68,883,475, compared with $105,817,808 in the like month last year. Net operating income for the first half was $376,428,839, against $562,729.734 in the correspond- iny riod of 1929. Money t;: —l;l;;n First Mortgage Loan In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc. 806 15th St. N.W. Phone National 2623 Mortgage Loan Correspondent for The Prudential Insurance Co. Basement of fnvestment 15th & K Sts. Hour, 1)ay or Mont Liberal Allowance on Your Old Tires 3436 14th St. N.W. Road Service—Ch: First Mortgage Loans Lowest Rates of anterest and Commission Thomas J. Fisher & Company, Inc. YOU’LL VIEW THE FUTURE DIFFERENTLY if you make financial provision for it by investing your surplus funds 6% Over a Third in our FIRST MORTGAGES business conditions in the territory | NEW YORK, August 16 (#).—June INQUIRY ON PURCHASES OF STOCKS IS RENEWED By the Associated Press. during interludes of great market weak- ness. The United States Chamber of Com- | merce gives as its opinion that such| buying ~ comes mainly from three | sources: First, from short sellers, I‘hO’ take profits by reacquiring stock pre- | viously owned and, second, from sup- | | port-buying by banks and financial | | groups, such as the consortium which | | functioned last Autumn. Such buying |is temporary in character and is pri- marlly intended to keep liquidation or- erly. | The third great class is investment | buying on the part of large and small bargain hunters, who wait patiently for | purchasing _opportunities which they | feel come whenever there is excessive | | competition in selling. i |~ Investment buying and bargain hunt- ing constitute the most _significant form of purchases, but usually are done |on a scale downward without aggres- | sively affecting the market tides at first: BANK CLEARINGS. NEW YORK, August 16 (Special).— | New York bank clearings today, $976,~ 000,000; a year ago, $1,341,000,000; New | York bank balances today, $125,000,- 000; a year ago, $171,000,000. New York | Federal Reserve credit balances today, ‘i $125,000,000; a year ago, $155,000,000. Questioning has been renewed as to| 3 the identity of purchasers of stocks 3 RADIO CORPORATION EARNINGS $505,098 Net for First Six Months of This Year Fails to Meet Dividends. By the Assoclated Press. NEW YORK, August 18. The Radio Corporation of America, which omitted a report of earnings for the first quar- ter of 1930, has issued a statement that showed net income for the first six months of year was $505,098, an amount insufficient to pay dividends on either class of preferred stocks. Divi- dends on these issues were therefore paid from surplus. ‘The net income compares with net of $400,996,437 in the corresponding period last year. Gross in the first six months of 1930 was $52,732,079, agdinst $60- 439,593 in the 1929 period. The net of $505,098 was equal to $1.29 a share on class A preferred outstanding, the di- vidend requirements on which for the first six months were $1.75. The net was equal to 42 cents a share on both classes of preferred. Dividends on the class A preferred stock totaled $684,400 and on the class B preferred $1,914,500. These payments for dividends, totaling $2.598,900, after addition to surplus of the $505,098 net income, reduced the surplus from $30.- 195,342 on January 1 to $27,596,442 on June 30. TREASURY CERTIFICATES, (Reported by J. & W. Seligman & Co,) ity id. Ofter. 30 100°4-3 pt. 15, 1932, Dec 15, 1932 Invest Wisely The man who is wise in- vests his money in a thor- onghly reliable and con- servative ' proposition that protects his future. Guar- anty First Mortgages are just such an investment. We Make First Mortgage Loans! REAL ESTATE MORTGAGE & GUARANTY CorRPORATION Capital Resources, $3,800,000 24 JACKSON PLACE F. Geo. H. Price Geo. H. Price Com[;any Geo. H. Price, Vice Pr Velmah McNab, Acst. Sec’y & Treas. Hawe moved to their new offices —At— 1427 Eye St. (Chandler Bldg.) Telephones: Netional 4686 and 4687 Formerly at 815 15th St. (Smith Bldg.) F. Harold Deland Harold Deland, Pres. Byrne Austin and nearby Maryland and Apartment 1321 Connecticut Ave. First Mortgage Loans On improved Real Estate in the District of Columbia year terms on your 5%% Apply RANDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESFONDENT NEW YORK LIFE INSURANCE COMPANY Virginia for 3, 5 er 10 Decatur 3600 Stay Away From Ogopogos! The Ogopogo—mysterious giant fish of the Canadian lakes—has an unpleasant habit of tipping over a fisherman’s boat, gobbling up the fisherman, and carrying him through subterranean passages to the Pacific Ocean—so goes the legend of the Canadian Indians. The worried Indian who fishes in British Columbia waters, and risks being caught by the Ogopogo, is in exactly the same boat with the worried speculator who risks having his financial craft upset by a stock market flurry—and is gobbled up by the very stock he is fishing for. Then you will be immune from money worries — for you will have provided a definite and con- tinuous income—unchanging to the very end of the term of the mortgage — and with principal fully secured by improved real estate, conservatively appraised. Spang-Chal pf (6)... Sparks Withogtn(1). Splegel-May-Stern. . Stand Branas (1%).. S1and G&E (3%)... Stand O of Cal (2%4). S1and Oil Exp pf(5). Stand O1l of Kan (2) Stand Ol of N J+2). Stand 011 N ¥ (1.60). Sterling Seo (A).... Stone & Webster (4). Studebaker Corp (3) Submarine Bo: Sun O1 pf (6. Superior O Symington. Texas Corp (3). . Tex Gulf Sulphur(4) exas Pac Land Tr.. % Thatcher Mfg (1.60). Thermold Co........ Thompson (J R) (3). Thompson Prod(2.40 Tide Weter As (60c). 13 Tide Water O1l pf(5) 1 Timken Roller (3)... 10 Tobac Prod(A)(80e) 2 Trensamer (11.60).. 120 Transcont] Ol (30¢) 13 Tri-Cont] Corp. 23 1 1.50; eggplant, 1.0021.25: string beans, 3.50a4.00: lima beans, 4.00; beets, p°r 100 bunches, 5.006. s, per 100 bunches, 5.0026.00. EARNINGS REPORTED. NEW YORK, August 16 (/.—Gener Asphalt Co. and subsidiaries today re ported for the first half met profit of $206,680, equal to 50 cents a share on | 413,333 common rhares. compared with %, $461,760, or $1.41 a share on 210614 + West Sug(1.40). common shares, in the first half last Grigsby Grunow. year. Hahn Dept Stores. .. Coty, Inc., had June net of $185.226, Hanna pf (new) (7) equal to 12 cents a common share, com- Har Wkr Ref (1234). pared with $776,068, or 57 cents a share, Hartman Corp (B).. in_the June quarter last year. Hayes Body. .. Radio Corporation of America for the first six months this year reported a balance of $505098 available for divi- dends, an amount insufficient by $2,093,- 802 to provide dividends on class A and B preferred stocks. In the first half Howe Sound (1434) . last year the company reported net 5 Hud&Man Ry (3.60). earnings of $4996,437. Payments of 5% Hudson Motor (5)... preferred dividends tolaling $2,598,900 124 Hupp Motor Car (2). in the first half this year, after addition | 19% ndepend O1l & G(2). 1o _surplus of the $505,095 net income, 415 (nd Motor Cyc) : plus frem £30.195.342 on 2 #% Indian Refinine 7 June 30. 2 3 It’s a simple matter to keep away from these financial Ogopogos. Your surplus funds, invested in 6% First Mortgage Notes, will never be carried away by a downward plunge on Wall Street—for 61 years, during all the wild periods of fluctuation, these Notes HAVE NEVER VARIED a penny in value—every inves- tor has always received his unfailing interest return. Ulllette Sar Raz(n) Gimbel Eros pf (1) Glidden Co (2). Gobel (Adolf). ., Gold Dust (2%). .. Goodyear Tire (5). Goodyear 18t pf (7), ¢ Gotham Silk Hoslery Graham-Paige...... Granite City Stl (4)., Grant (W T) (1). 2" Nor ctfs Ore ( of a Century Without a Loss » May be purchased in amounts from $250 up. B. F. SAUL CO. aitional 2100 & D AN e R BN NS TR A XN ershey Choe Df (16) Hoe (R) & Co . 4 Houdallle-H (B)1.20 Houston O11 (b10% ) SWARTZELL, RHEFM & HENSEY CO. MORTGAGE BANKERS \111 15 STREET N.W. WASHINGION D.C, 925 15th St. N'W. 9 THERE £9% Tri-Cntl Corp 38 1 Indus Ray(bs% stk) g 83 Una-Ell Fiscner ¢