Evening Star Newspaper, September 8, 1930, Page 13

- CLEARINGS ARE OFF huflust Figures Show Decline -~ From July and From August, 1929. BY EDWARD C. STONE. According to the report of the Wash. ington Clearing House Assoctation, local 379,442.82 against clearings in August, 19 ng to $113,583,510.64 and of $992,099.- mrs, A. T. Renshaw. 138,69 in the same riod in 1929 and $932,257,838.60 ‘in ml first eight months of 1928. So far in 1930 bank clearings in Washington have been lower each month than in the month a year ago. This is also true in almost every other large city in the country, reflecting the national busi- ness depression. Bank clearings are considered one of the best barometers available regard- ing business conditions everywhere. Local bankers expect a better showing in clearings during September, Octo- ber, November and December. These months will reflect the expected Fall ~Prev.1930— High. Note—All stocks are sold in one ing those designated the hundred-share letter s (80s) shows those stocks to U:’nfl in odd lots only. Stock and Low. 87% 21% Adams Exp (1.60). 32 . 84% 29% Addressorr'p) 1 23 clearings in August totaled $96,- | corresponding | 11gm 88y 39% 1007 67% 8% 0% 103% 43% 52% 116 -up in business and the holiday | 110 le period. Following is a comparison, by months, of bank in Washington dur- ing the first eight months of this year and the same periods in 1929: 1929, $129,438,201 109,649,040 131,795,928 129,300,050 6,836, 1 113,553,519 992,009,138 ‘The clearings for the next four months will be followed very closely to show how mear to last year's figures they will bring the 1930 total. Bank Women Meet Tonight. More than 100 reservations have been Women's Committee of Washington Chapter, American Institute of Bank- The meeting is to take place at Roosevelt - Hotel, with Mildred Woodcock, committee chairman, pre- . The chief address will be made by Mrs. Anne Tillery Renshaw, who will what women ought to know about finance. Other speakers will in- . Perley, president of Chay and T. formed that her mother had She received tele- reach New York until her motner died, word received here today Peoples Drug Sales Gain. Sales of Peoples Drug Stores for reported , showed a slight over the same period last year. amounted to $1,367,770, against $1,357,585 in August, 1929, an increase of 1.4 per cent. Sales for the first eight months of 1930 amounted to $10,960,320 | with $9,781,383 in the lod in 1920. This is a gain of 81,178,937, or 12 per cent. In n_with the current activ- 4ty of Carpel Corporation stock, it is announced by mm' Brawner & | a p ary audit of the books of the corporation shows that the net earnings for the months of July and t were well in excess of $20,000. combined with the earnings of $42,000 for the six months of 1930 will .show net earnings for the first eight months in excess of $62,000. It is the f the management that for the year will be approximately $100,000, or over $4 a share. Busy Trading on Exchange. The week on the Washington Stock Exchange started off with quite broad trading in both stocks and bonds. Capi- tal Traction was the first stock out, 10 shares selling at 605;. Potomac Electric 5%, per cent preferred sold at ashington Railway & Elec- tric preferred moved at 98. Twenty shares of National Bank of tock sold at 250 and two of Wi Loan & Trust Co. at 480. Columbia Sand & Gravel came | out at 89%, District National Securities ferred at 72 and Mergenthaler Lino- , ex dividend at 97. were three 100-share sales in National Mortgage & Investment pre- ferred at 5 while 280 shares of Carpel tion sold at 24 and 50 more at 24Y,;. Nine shares of Washington Gas ugm stock appeared on the board at 1241, and Peoples Drug preferred, ex dividend, registered 101%. Bond prices ‘were little changed. Willlam_D. Hoover, president of the National Savings & Trust Co., has re- turned from a week’s fishing trip down the Potomac. 2 Charles D. Bright, assistant cashier of the National Metropolitan Bali)k ‘gd g ‘The American Ice Co. sold a larger tonnage of ice in August than in August a year ago and a substantial increase in the month's profits is ex- pected. Secretary Mellon has announced an offering of $325,000,000 Treasury 3% per cent United States Treasury certifi- cates. The low rate is the feature of the offering, reflecting present low- money _conditions. L Beatrice Co., which recently pur- chased a local unit, has declared the regular quarterly dividend of $1 on common and $1.75 on preferred, pay- able October 1 to stock of record Sep- tember 15. DIVIDENDS DECLARED NEW. YORK, September 8 (). Pay- Hidrs. of ble. record. . Sep. 15 1"‘!1 o pe. 3704 13175 27A Sse SEEESEERRa00 26% 27% 122% Bethlekhem 8t pf (7). 178% 115 30% 33% 116% 43 14% 748 43 1264 1210 104'; Baldwin Loco pt (7). Advance Rumle 2 15% Advance Rum! 1 1034 Afr Reduetion (3) 51 16 Alr Way El Ap (2 50 1 Ajax Rubber. 1 615 Albany Wrap 1 18 Allegheny Corp. 37 87 Alleg Cp ww 831 1 232 Allled Ch & Dy (n6). 14 48'% Allis Chalmers (3).. 26 18 Amerada Corp (2)... 12 4% Am Agricul Chem 3 23 Am Agricul Ch pf. 7 61 Am Bank Note pf (3) 208 27 Am Bosch Magneto.. 1 41% Am Br Shoe (240).. 6 118 AmBrSh&F pf (1), 508 8% Am Brown Bov Elec. 14 108% Am Can (4).. 306 42 Am Car & Fdy (6) 25 39 Am Chain (3) 76% Am Chain pt (7). 86% Am Chicle (13). 9% Am Com Alcohol. 334 Am European Secur. 561 Am & For Power. 95 Am & For Pw pf (6). 9215 Am & For Pow 24 pf, 18% AmHawaiian (+10)., 55 Am Home Pr (4.20 31 AmIce (t4) i 78 Am Ice nf (6) ' 28% Am Internatl (2 90 Am Locomot pf (7) 35% Am Mch & Fdy Con. 6 AmMach & Metals. 28% Am Metal Co (1%). 65 Am Nat Gaspf (7).. 4813 Am News (j14). 72 Am Pow & Lt ($1). 99 Am Pow & Lt pf (6) 80 AmP &L pf A st (5) 23% Am R & StSan (1%} 48 Am Roll Mill (n2) 52'%4 Am Safety Razor 8 114 Am Ship & Co S 53 Am Sm & Ref (4 45 101 AmSm&Refpf (6). 1 88 AmSnuftt(3%).... 1 354 Am Steel Fdy (3) 2 110% Am Steel Fdy pf (7). 108 103% Am Sugar Ref pt(7 2 9% Am Sumatra Tob. 1 16 Am Tel & Cable (5).. 208 200% Am Tel & Tel 158 118 Am Tobaceo (ne 12 197 Am Tobaceo B (412 8 117 Am Tobacco Brnew.. 39 784 Am Water Wks (n1). 87 19% Am Woolen pf. 6% Am Zinc Lead & 102% Atch To & S F pf ¢ 144 Atl Coast Line(}10) 30% At Refining (12) 28 62 Atlas Powder (4 10 101 Atlas Powder pf (6) 25% Atlas Stores (n1).. 91 Auburn Auto (j4) 87 Auto Strap Saf R( 4% Aviation Corp of Del 19% Baldwin Loco (1%). 163 964 Balio & Ohlo (7).... 78% Balto & Ohlo pf (4). 1 1215 Barker Bros (2) 106% Bamberger pf (6%). 20% Barnsdall A (2)..... 6714 Beatrice Cream (4). 101% Beatrice Cr pf (1) 49% Beec! ut Pkg (3).. 1 79% Belg NaRyptpf5.40 2 27% Bendix Aviation (2). 82 31 Best&Co(2)... ... b 75 Bethlehem Steel (6). 79 17% Bloomingdale Bros. . 24 Bohn Alum&Br(1%) 2 Booth Fisheries 18 Booth Fish 1st pf. 60% Borden Co (k3) . 30 23% Borg Warner (3). 13 1314 Briggs M{g Co. . 148 21 Briggs & Strat (2) 1 121 Brockway Mot Trk.. 6 62 Brockway Mot pf (7) 50s 58% Bklyn-Man Tr (4)... 14 84% Bkiyn-Man Trpf (6) 4 10 Bkiyn & Queens..... 1 Bklyn Union Gas (5) 13% Bruns-Balk-Col..... 2 5% Bruns Ter & Ry § . 1 9% 9% 9% 107% Bueyrus pf (7)...... 208 115% 116% 115% 116% 3 36% 33% Bucyruscv pf (2%). £14 Budd Wheel (1) 5 20% Bullard Co. .. 26% Bulova Watch (3) 90 Burns Bros (A) (8) 15% Burns Bros (B).. 89 Burns Bros pf (7) 29% Burr Add Mach (1).. 32 29% Bush Terminal (2%) 99 Bush Term deb (7)., 24 Butte Cop & Z (50c). 11 Butte Superior. 60's Byers (AM)... 7 Callahan Zinc & Ld 47% Calumet & Arizona.. 13 Calum & Hee (a1%). 56 Canada Dry G A (5). 165% Canadian Pacif (10). 40% Can Pacificnew..... 15 20 Cannon Mills (1.60),. 1 13 Capital Admin (A). 150 Case (JI) (6)... 53 Caterpil Tr (13% 19 12'% Celanese Corp. 9 Celotex CO..vva..t 401 Cerro de Pasco (6). 19% Checker Cab (4.20) 4415 Ches & Ohlo (2%)... 51% Chesapeake Corp (3 3 Chic& Alton ...... 2% Chic & Alton pf 815 Chic Great Western. 27 ChicGreat Westpf.. 1 1214 Chic Mil St P & Pac.. 27 19% Chie MilSt P & P pf. 20 66 Chicago& N W (6).. b 11% Chic Pneu Tool...., 39 41% ChiPneuT pf (3%).. 5 Chic R [ & Pac (7). Chi R1& Pac pf (7). Childs Co (2.40)..... 13 Chrysler Corp (3)... 430 City Ice & F pf (6%) 808 ty Invest (10)... City Stores (50c) 9 33% City StoresA (3%)..270s 133% Coca-Cola (6)....... 4815 Coca-Cola A (3). 3 50 Colgate-Pal-P (23). 13 14% Collins & Alkman, 12% Colonial Beacon. 36'% Col Fuel & Iron (2) 55 ColGas&El (2).... 104% Col Gas & El pf A (8) 12% Col Graph (a28e).... 117 108 Columbian Carb (16) 23% Comm Credit (2).... 317% Comm Credit A (3) 1 224 Comm Cred pf (1%). 108 76% Comm Cred 1st (614) 20w 7% Comm C 1st xw (8%) 408 28% Com In Tr (g1.60)... 11 4 Comm Inv Tr war. 1 20% Comm Solvents ($1). 160 12% Comwlth & 8o (60¢c). 158 99 Comwlth & 8o pf (6) 38 Conde Nast Pub (2). 68% Colo & Sou 1st pt (4) 1008 10% Congoleum-Nairn... 89 36 Consol Cigars (5) . 2 67 Consol Clg prpf 6% . 108 15% Consol Film (2)..... 2 18 Consol Film pf (2).. 4 96% Consol Gas N Y (4).. 183 99 ConsGasN Ypf(6). 38 3 Consol Textile. . 14 11% Container A (1.20) 6 3% Container B, .. 1t 18% Contl Baking A. 3% Contl Baking B. 66% Contl Baking pf (8). 50 Contl Can (238)....¢ 15% Contl Diamond (2).. 50 Contl Insur (2.40) 81 Contl Motors 18% Contl Ol of Del e | 161 Contl Shares (1).... 18 83% Corn Pr Ref (t43).. 11 140 Corn Prod pf (7).... 1008 w13 38 Crown Cork (£2.40). 11 92 Crown WP 1st pf (7) 108 104 Crucible Steel pf (7). 208 4 Cuban-Amer Suxar. . 38% Cudahy Packing (4). 2 105% Curtis Pub (16%)... 1 114% Curtis Publish pf (1) 1 188 2 105% 105% 106% 105% 1 8 408 107 12 102 34 130% 1281 12815 128 5% 10 183% 182 ol 142 192% 188 2 9 99 9 2 108% 108% 108% 107% 208 150 3 181% 181 181 62 52 52 W 1 109% 109% 109% 66 144 1382 140 40 2T% 26% 2 101% 101% 101% 39% 39% 39% Sales— Add 00. High. Low. . Close. 27% 2T% 2T% 2T% 32% 32% 3823 32 10 9% 10 9% 23 “ms 8% 24 127 124% 124% 125% 18% 18 184 18% 1% 1% 1w 1% e B . 23% 22% 22% 28 928 92 92y 96 | 284 280 280 282 614 55 B5% 5B 23 28 24u 6 6% 38 38 64 681 34 324 43 43 43w 123 122% 123 121% 1814 184 18% 184 1345 1324 1327 132% 524 52 62 B2y 56 56 98% 98% 445 454 15% 164 a8 a8 2% 2% 99% 98 13% 611 38% 804 384 98% 444 56% 98% B55% s 86% 86% 27% 28 52 52% “ 651 642 65 64 W 1% 1% 1% Tllz 704 0% 70% 101% 1011 101% 1014 421 4219 421 42% 40 40 40 401 113 113 113 112% 1067% 106% 106% 108 12 12 12 11% 21 20 21 21 218% 216 216% 216% 125 124% 125 124 2561% 265 256 254% 1 8% 1274 128% 127 95% 98 % 92% 29% 28% 10 10% 4% 4T% 86% 28% 28Y | 108 108 107% 147 147 148 34% 34 3du 344 6% 4N T4M TBY 108 10215 102% 102% 102% 2! 125 2% Tk % 5% 5% 34% 33% 33% 34% 106% 106% 108 100% 100% 102% 81% 811 B8l 81% 13 13 18% 1081 109 1081 22% 22% 22% 87% 86l 86l 87T 2 107% 107% 107% 106% b59% 59% 59% b9 814 81% 814 82 33% 33 33 32% 50% 50 50 50 898 87% 89 89% 8 127% 127% 127% 127% 27% 26% 214 2% 26% 19 9% 8% 79 kil 30% 20% 304 29% 21% 204 20% 20% 24% 244 24% 24 19% 19 19 19% 70 70 70 6 691 684 68% 604 1% 9% 91% 91 13% 13% 13% 13% 16% 16 16 16 % 36 1% 11% 35% 34% 36 34 35 35 109 109 1093 2% 2% 2 1% 1% 1% 6% T6% 1% PR T B 50% B1% 50% | 18% 13% 13% 641 64% 64 1835, 182 45% 454 45 4Bl 19% 211 19% 188% 189% 58 56Y 13% 13 14 13% 42 431 30% 31 50% 5l 69 6o 2% 3 2% 3 10% 10% 3T 38 184 15% B84 57w 3T% 3T 16% 154 24 23% 1% 70% 19% 19 44% 43% 100 57% B6% 564 58 29% 28 29 8215 82 150 % % 35 32 62 61 22 14% 50% 62% 61 n e 109y 1814 138% 264 25% 38 38 38 26% 26l 25 94%4 94% 941y 9% 95 92 36 36 5 5 21% 27w 144 14 144 14 102% 391 18% 17% 17% 26% 7 16 12 12 86% 36% 0% 0% 18% 18% 200 208, 110% 109% 109% 1104% 104% 104% 10434 1043 1 b, T % 18% 163, 5% 5% 28 28y 4% 4% 80 80 58 58y 16% 18y 581 581 3% 194 4 194 18% 193 19% 94% 94 94w 93y 149% 149% 149 149 1% 17% 17% 17 Bl 48% 51 4% 92% 92 921, 9216 114 114 114 114 DA W 2 42 42 qa 114 114 114 120 120 120 Stock and 3 Dividend Rate. i Devoe& R A (1.20).. Diamond Match (8 Dome Mines (1)..... Dom Stores ($1.20).. Drug Corporat (4) Dunhill Intl (34) . Duplan Silk pf (8) Du Pont de N (14.70) Du P de N deb pf (6). Duques Lt 1st pf (5). East Roll Mill (ht2), Fastman Kodak (8). Eaton Axle & 8 (3).. Eitington-Schild. ... FElec Auto Lite (6) El Pow & Lt (1)..... El Pow & Lt pf (6).. El Storags Bat (5).. Endicott-John (5)... % Equit Office Bldg (3) Erie RR . Eureka Vac Cleaner. Fairbanks Co pf. ... Fairbanks Morse (3) Fed Lt & Trac pf (6). Fed Motor Tr (80e).. Fed Wat 8 A (e2.40). 4 Federated Dept Strs. Firest T& R pf (6).. Fisk Rubber........ Bales— Add 00. High. 5 = 50 133 1 1 1 10s 2 108 1 7 13 8 . 1 Fisk Rubber 1st pf. . 130« First Nat Strs (23%). 4 Foster Wheeler (2).. 5 Fourth Natl Inves Fox Film (A) (4)... Freeport Tex (15)... Gen Am Investors. .. Gen Am T’k Car ($4) Gen Asphalt (4) Gen Baking pf (i 4 Gen Bronze (1 Gen Cable A Gen Cable pf Gen Cigar (4). Gen Electric (1.60). . % Gen Elec spec (60¢c). n Food Corp (3). . 7en G & F1 A (e 30 Gen G & Bl cv pf (8) 4 Gen Mills (3). Gen Motors ( Gen Motors pf (5) Gen Outdoor Adv. 4 Gen Pub Serv (b6) Gen Ry Signal (5) 4 Gen Realty & Util Gen R & Ut pf (e6’ Gen Refract (14%). tre Equip. . f Raz (n5) .. . 3 s Glidden Co (1.20). Glidden pr pf (7). Gobel (Adolf). . Gold Dust (214) Goodrich (BF). Goodyear Tire (| ‘Gotham Silk Hot Grand Silver § (m1). Grand Unfon £ Grand Union nf (3).. Granite City §t1 (4). Grant (WT) (1).... Gr North nf (5). Gr Nor ctf Ore (a %) Gr West Sug (1.40).. Grigsby Gruno Gulf States St Hahn Dept Steres. . . 4 Hahn Dept & pf (63%) Hall (WF) Pr Co (2) HayesBody......... Helme (Geo H) (47). Hercules Powd (3) . Hercules Pow pf (1) Hersh Choe pf (15) .. Herghey Ch pr pf(§). 4 Houdaille-H (B) 1.20 Household Fin pf (4) Houston Of1 (b10%) . Howe Sound (t4%).. Hud&Man Ry (3.50) . Hudson Motors (3).. Hupp Motor Car (2). Illinots Central (1).. Independ O & G (2 Indian Motor Cycl % Indian Refining. Ingersoll Rand (). Inland Steel (4)..... Inspiration Cop (2).. Insurance Sh (45¢) .. Ins ctfs (Md) (80c). . % Interboro Rap Tran. Interlake Tron (1)... Intl Bus Mach (n6) ., Intl Carriers (25¢).’ 4 Int] Cement (4)..... Intl Combustion Int Comb Eng pf.... Intl Harvester (2%). 4 Int Harvester pf (7). Intl Hydro E1 A (e2) Intl Match pf (4).... Intl Nick of Can (1). Intl Paper pf (7) ... Intl Pap & P (A) 2.40 Intl Pap & Pow (C)., Intl Pap & P pf (7). Intl Printing Ink (8) Intl Salt (3).. Int Shoe (3). . Intl Silver pf (7). Int] Tel & Tel (2)... Inter Dept Strs (2).. IntertypeCorp (2)... Investors Equity (2) Island Cr Coal (4)... Island Creek pf (6). Jewel Tea (14). Johns-Manville Johns-Manv pf (1 Jones&Laugh pf (7). Jordan Motor Car. ... KC P&L 1st pf B (6). 4 Karstadt (R) (1.03). Kayser Julius (2%). Keith-Alb-Or pf (7). Kelly-Spring Tire. .. Kelly-Spring 6% pf. Kelly-Spring 8% pf. Kelsey Hayes (2)... Kelvinator Corp ... Kennecott Copper (2) Kimberly-Clark (13) Kinney (GR) pf (8). Kresge (SS) Co 1.60. Kress (SH) Co (p1). i Kreug & Toll (1.60). Krog Gr & Bak (n1). Lambert Co (8)..... Lee Rubber & Tire. .. 149 5 » 3 BeBenTronnane Bt 820803 8 [P L Y e S 208 1 55 47 16 1 Leh Port Cem pt (7).120;' Lehigh Valley Coal. . Lehigh Val (141). Lehman Corp (3). Lig & Mye: Ligg & Myers pf (7). Lima Locomotive. .. Liquid Carbonie (4). Ine (3)...... 6%). t Lorillard (P) Co. Loulsiana Oil. . LouG&E (A) (1% Ludium Steel (2)..+. MeCall Corp (23%). McCrory (A) (2).... MclIntyre Pore M (1) McKeespt T P(15%). McKesson & Rob (1) McKes & R pf (3%). McLellan Store: Mack Trucks (6).... Macy RH & Co (nt3 0% Madison Sq G (1%). Magma Copper (4). Mallison & Co. ... Man Elev mod g (d5) Marine Mid (1.20)... Marlin-Rock (156%). Marmon Motor Car.. Marshall Field (2% May Dept Strs (n2).. tag Co pf (3).... Co 1st pf (8) Metro Gold pf (1. Mex Petrolm (132) Mexican Seaboard. 4 Miami Copper (1% Mid-Cont Pet (2) M StP & SSM 1sd Mo Kan & Texas (2). Mo Kan & Tex pf (7) Missouri Pac pf (5).. Mohawk Carpet. . Monsanto Ch (1% Montgom Ward (3).. Mother Lode (20¢). . 5 19 1 4 1 22 2 1 4 26 4 129 1 MARKET RESUMES Many Issues Join in Mod- erate Gains, With Tone Steady. BY CLAUDE A. JAGGER. Associated Press Financial Editor. NEW YORK, September 8.—With the general level of share prices in the critical area that bl"oufht grief to the July bull campiagn, bullish stock mar- ket operators today continued to drive on toward new high levels for the re- covery from the June deflation. Although several of the leading shares, such as U. S. Steel, were some- what sluggish, & wide assortment of isues was marked up 1 to 3 points, with a few wide movers gaining 5 or more. Issues advancing 1 to more points included American Can, Ameri- can Telephone, Kennecott, North Amer- ican, General Motors, Chrysler, Radio Keith, Air Reduction, Sears Roebuck, Dupont, Stone & Webster, Gulf States Steel, Southern Pacific, Trans-America and Lehman Corporation. Columbian Carbon, Auburn and Diamond Match gained more than 5. Although the market was somewhat more active than it has been of late, commission houses found the general public still cautious. Several of the pool favorites were turned over in large volume, evidently in an effort to make an impressive appearance on the tape. One block of 24,700 shares of Radio Keith was traded and blocks of 5,000 shares were more numerous than for some time. Business news was scarcely of a char- acter to influence the market one way or the other, but the more cheerful tenor was maintained. Declarations of extra dividends on Mead Johnson and Novadel Agene, two rather inactive curb stocks, was at least a change in the dividend news, if not particularly | so significant. Early estimates. quickened slightly this week and surveys from merchan- dising sources continued to report sea- sonal pick-up. Announcement that the new issue of Treasury certificates would bear the low interest rate of 2% per cent was re- garded as a fresh indication of the plen:lmde of capital seeking employ- ment. In the bond market prime liens con- tinued in demand, steadily reducing ylelds, Call money held at 2, per cent. Whether stocks are again to en- joy any such favor as they did during the 1927-29 period remains to be seen, but attractive dividend yields, as com- pared to yields obtainable on bonds, appears to be bringing a certain amount of investment capital back into equity shares. Moody’s calculate ‘the average yield on 403 stocks at the end of August at 7.14 per cent. Gasoline Price Reduced. NEW YORK, September 8 (#).—The | Standard Oil Co. of New York today reduced the price of gasoline in the met: litan area of New York 2 cents a gallon, making the retall price 16.3 cents, including tax. 8Shell Eastern Petroleum Products, Inc.; Tidewater Oil Co., Sinclair Consolidated Oil Corpora- n, the Texas Co. and other companies followed the action of Standard of New York with a 2-cent reduction in the retail price. ARGENTINE STOCKS SOLD. PARIS, September 8 (#).—The revo- lution in tina catsed a certain amount of selling in Argentine securities the Bourse today, but were plenty of buyers and only a few stocks showed slight losses. Money on Hand to Loan on First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. OUTPUT INDICATED | Government Report Fore- casts Yield of 14,340,000 Bales as of September 1. By the Associated Press. Cotton production this year as in- dicated by the condition of the crop September 1 was announced today by the Department of Agriculture to be 14,340,000 bales of 500 pounds gross weight, ‘as compared with 14,362,000 bales indicated a month ago, and 14, 828,000 bales ginned in the 1929 crop. The condition of the crop on Septem- ber 1 was 53.2 per cent of a normal, compared with 62.2 on August 1 this year, 55.4 a year ago and 56.8, the Sep- fember 1 10-year average, indicating a yleld of 153.2 pounds per acre, com- with 155.3 pounds on August 1, 1550 pounds last year and 155.1 pounds, the 10-year average. ‘The total abandonment of acreage after July 1 was placed at 2.2 per cent, leaving 44,791,000 acres for picking, on which acreage the department’s esti- mate of the indicated total production was based. The area in cultivation July 1 was 45,815,000 acres, and the average abandonment after that date for the 10 years, 1920-29, was 3.5 per cent. The acreage to be picked, based on the average abandonment, used a month ago in computation of the Au- gust indicated production, was 44,252,- 000 acres, ‘The acreage for picking this year, the condition of the crop on September 1, and the indicated total production in bales of 500 pounds gross weight, by States follow: Condi- tion. 61 Pro- duction. 40,000 819,000 int 65,000 66 997,000 997,000 000 State. Virginis_ ... North Carol uth Carols Acreage. 000 org| Florids Missourt ! Tennessee Mississippl Lout: Texas . Oklahom: Arkansas New Mexico. Arizona Californi Others 19,000 Lower Caiifornia... 100,000 Lower California not included in Cal- gt:;nuh figures nor in United States COTTON PRICES DECLINE. NEW YORK, September 8 (Special). —Cotton prices dropped $1.50 to $2 a bale on the exchange here today, fol- lowing publication of the Government crop estimates, showing a larger in- dicated yleld than was expected in the trade. REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHEIElFOI}.D invited Seated busimess propertiss. *Sears. If 80 desired. 1520 K St. N.W. National 0475 First Mortgage s! We make first mort- gage loans on improved Washington real estate at nominal costs. For a wise investment choose Real Estate FIRST MORTGAGES - they not only insure a dependable income, but they protect your principal as well. REALESTATE MORTGAGE & GUARANTY CoRPORATION Capital Resources, $3,500,000 24 JACKSON PLACE National Metropolitan Bank 15th St., Opposite U. S. Treasury 1814—Oldest National Bank in the District of Columbia—1930 commodation prestige. f[You're inv bank at ¥ IR ST Metropolitan.” Standing at Such a Bank —as this not only in- sures: adequate ac- at all times, but also con- fers definite business ited to “The b 3% on Savings MORTGAGES EQUALLY SAFE FOR SMALL OR LARGE INVESTORS One with a limited amount of money to invest often feels that he is denied opportunity that those with larger amounts enjoy. Our. 6% FIRST MORTGAGES are available to all—small and Over a Third of a Century Without a Loss v By large investors—and extend to each the same liberal return, with the same assurance of safety of principal. ’ I May be purchased in amounts SAUL GC2. 925 15th St. N.W. FINANCIAL. Money to Loan first deed of trust on real estate. iling_interest and commission. oseph 1. Weller Specializing in Established Business Investments JAMES Y. PENNEBAKER Nat.5291 1520 K St. N.W. Ruercan Teueone o TeiEsRaPh Conpny 164th Dividend ) Tue regular quacterly M dividend of Two Dollars and Twenty-Five Cents ($2.25) per share will be E.id on October 15, 1930, to stock- olders of record at the close of ness on September 20, 1930. H. BLAIR-SMITH, Treasurer. First Mortgage Loans Lowest Rates of anterest and Commission Thomas J. Fisher & Company, Inc. ‘ Wi e 2 ohlve for sale a limited amount of choice first trust notes in denominations of $100 up, bearing 61;% interest. The type of securities which please careful investors. CHAS.D SAGER' 924-14 SLAW. Vs Real Estate Loans Ample funds always available for loans on improved property in the District of Columbia and nearby Maryland and Virginia. Low Interest Rates Long Term WERERSRSS Washington Building District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company 'quitable‘ Co-orative Bldg. Ass'n Oy JOHN JO Assets 1879 50th EDSON, President WALTER S, PRATT, ...$5,723,083.61 Surplus & Profils. Jr,, Secretary +..$1,765,911.57 Snl;scnphou for the 99th Issue of Stock Being Received Plan for the Future Now! Start saving while you are earning a steady income! 915 F St. N.W. Let us explain our OVER $100,000,000 North American Trust Shares Have Been Purchased By Inv- * The Largest Fixed Trust In The United States Information on request Mackubin, Goodrich & Co. Established 18 BANKERS Members New York and Baltimore Stock Exchanges Associate Member New York Curb Exchange = ' 1508 H STREET WASHINGTON, D. C. REDWOOD & SOUTH STS. BALTIMORE, MD. We invite applications for First Mortgage Loans at 3% 2 on residences and business buildings in the District of Columbia and nearby Mary- land suburbs . . . Lower Costs, Long Term (if de- sired), Valuable prepayment privileges, Three yearsloans on newer properties with- out amortization. H. L. Rust Company 1001 Fifteenth Street National 8100 ESTABLISHED 1889 Loan Corvespondent for ““The Prudential® I I from $250 up. { | | Il { 4% 6% Curtiss Wright Corp 118 7% 19% 7% Curtiss WrCorpA.. 19 9% 90% 55 Cutler-Ham (3%) a;' 7 68% 48% 24% Davison Chemical... 9§ 20 28% 28% 29 2 1% 3% Motor Meter G & El. 3 4% :fl‘ 12% Murray (B)(2% stk) 28 17% (Continued on Page 14) THERE, IS NO SUBSTITUTE FQR SAFETY W