Evening Star Newspaper, September 10, 1930, Page 13

THE EVENING STAR, NEW YORK "STOCK EXCHANGE by Private Wire Direct to The Star Office. TRACTOR PURCHASES BY SOVIETS HEAVY Russia Is Leading Market for STOCKSHOLDFIR CAPTALTRACTON | | INUPHARDTREND DIVIDEND DECLARED following is a summary of important corporation news prepared by the Standard Statistics Co., Inc., New York, for the Associated Press: ~Prey.1930~ Stock and High. Low. Dividend Rate. in one hundred-share lots Sales— Add 00. High. 19 141 Duplan Silk (1).. 18 Note—All stocks are sold exceptiing those designated by the letter s (80s) (250s) which shows those stocks to be sold in odd lots only. Quarterly Payment of $1 Is Authorized—Store Sales Are Reported. "BY EDWARD C. STONE. It was announced on the Washington tock Exchange today that the di- rectors of the Capital Traction Co. have declared a quarterly dividend of $1 per ghare, the same &s the amount paid in the second quarter ©f the present year. The quarterly @ividend is payable on Octok 1 to stockholders of rec- ord on September 14. As Scptember 14 comes on Sun- dey, the <tock will@ be quoted ex-divi- dend on the local exchange Friday, September 12, the Jast previous ses- sion before that date. The founceme; by the Capital Traction Co. during the present year have been of unusual in- ferest and importance. Bus competi- tion and privately owned automobiles s0 cut into the street car corporation’s earnings that it became evident that some reduction in the dividend must be made. Early this year the directors consid- ered earnings and prospects and voted to reduce the long-prevailing 7 per cent disbursement to 5 per cent. As the earnings Teports came in during the early months of 1930 it was found that the company was not earning 5 per cent, so the dividend was cut further to 4 per cent. . It is understood that the present dividend rate is being earned. The ‘August report will present the first full month’s under the higher fare schedule. The officials claim that the few days in Juy after the new schedule went into effect was not a long enough period to show any definite trend in in- come. Local Trade Status Reported. Department store sales in the Rich- mond Federal Reserve district, which includes Washington, in August, were 6 per cent below the record for the corresponding month a year ago. From January to September 1 they were 2 per cent under the business done in tores in the same period in 1929. The Federal Reserve Board's report, out today, eovering 530 stores in leading cities all over the country were 11 per cent lower in August of this year than last and 6 per cent lower in the first eight months of the year than in 1929. The Reserve Board gives the percentages of increase or decrease for the 12 Re- serve districts as follows: Federal January 1 reserve *August o r aistrict. *August 3L “Total (530 stores) —€ G. Bowfe Chipman. I ~naBolSunace t+ fgures preliminary: the month ¢ pusiness days this year and 27 last t will be seen that the Richmond + mede the best showing of any gistricts except New York. The + drop pin rales was the same in cts. For the eight- betior than in Boston, Philadelphia, Cleveland, Atlanta, Chicago, St. Louis, iis, Kansas City, Dallas and Ban Francisco. And the same can be #aid for the eight months. Furthermore, Washington the other stores in the Richmond area made a 5 per cent better showing than the Aug- ust sales average for all the districts and a 4 per cent better average than the aggregate record for all the districts in the first eight months of 1930. Chipman Returns From Maine. G. Bowie Chipman, resident partner of Harriman & Co., has returned to ‘Washington after 10 weeks vacation pessed at his Summer home at Castine, Me. Mr. Chipman made the return trip aboard his yacht, being accompanied by Jesse' L. Suter, also a member of the staff of Harriman & Co., and reports a delightful Summer in the Pine Tree State. He is a director in the Inter- national Mercantile Marine Corp. and in the Van Camp Packing Co., Indian- spolis, Ind. Capital Traction Stock Stronger. Capital Traction was stronger on the ‘Washington Stock Exchange today. It ned at 61 and closed an eighth her on a 70-share turnover. Carpel Corporation stock was again very active, 220 shares changing hands during the session, closing at 24'>. Thirty-five shares of Potomac Eleciric Power 5! %z cent preferred moved at 108, and shares of Merchants Bank & Trust Co. stock came out at 125. Capital Traction 5s led the bond market, Southern Corp. Officers. At the annual meeting of Southern Corporation, held at their offices in the Shoreham Building, the following offi- cers were elected: Herbert J. Adair, president; Edward S. Perot, jr., vice president; Edgar N. Snow, secretary, and John A. M. Adair, treasurer. Directors for the new year are as fol- Jows: Herbert J. Adair, Edward 8. Perot, jr. and Edgar M. Snow of this city; John W. Hanes, Richard 8. Reynolds and Clarence K. Reynolds of New York City; Wallace Lanahan, W. Carrington Stettinius and J. Edward Johnston of Baltimore, Md., and Robert M. Hanes of Winston-Salem, N. C. Insurance Men to Open Season. The District of Columbia Life Under- writers' Association starts the Fall luncheon season tomorrow at the Hay- Adams House. The guest speaker will be Edward M. Johnston of Syracuse, N. Y. The association is launching an advertising campaign and this will re- Teceive special attention at the meeting tomorrow. Several members of the as- sociation are planning to attend the na- tional convention in Toronto and the latest plans for this meeting will also be reported. John H. Snyder is presi- dent of the local assotiation this year ::d will preside at the opening meet- 8. Gleaned in Financial District. Edward J. McQuade, vice president of the Liberty National Bank, is back at his desk after a trip to the West Coas! He went by way of the Panama Canal and returned through Yellowstone Park. Charles D. Ratcliffe, vice president of the Munsey Trust Co., leaves here at the end of the week on his vacation, most of which he will spend at Atlantic City. ‘The Federal Reserve Board announces that the Federal Reserve Bank of Dallas has established a rediscount rat. of 31 per cent on all classes of paper of all maturities, effective September 9. The former rate was 4 per cent, G. C. Murphy Co. declared regular fquarterly dividend of $2 on preferred, a‘);ahlc October 2 to stock of record tember 22, Secretary Mellon yesterday called for the redemption of more than $1,000,- 000,000 in outstanding Treasury notes bearing 3% per cent interest when it became apparent that v,hk: latest monl!' u offering of certificates bearing % per cent interest had been mb! ~Prev.1930— iy 195 156% 36 214 9% 35% 31% 10% 39% 5any 128 21% 80, 101 111% 1008 33% 7 69% 417% 55% 4 141 107% 52% 116 697 274% 126% 130% 127 141% 124% 44% 175 8114 534 374 29% 110 8% 4% 13% 5015 24216 108 175% 51% 37 263% 91 122% 841 34 101 92 108% T0% 6% 853 57% 56% 1% 7% 134 29% 90 €9 78 33% 90% 5015 25% 22% T8% 178% 115 119 30% B3% 31% 16% 68 14% 74 43 110% 90 Burns Bros (A) (8 35 100 51% 112% 60% Byers (AM).. . 89% 33% 30 75% 226% 165% Canadian Pacif (10). 52% 28% 362% 150 132 98% 13% 191% 52 647% 36% 20% 77 87 110 37 199 40% 27'% 114% Curtis Publish pf (7) 4 139 Diamond Match (8).. 9% 30% 8% 43% Stock and Sales— Dividend Rate. Add 00. Hish. Low. Abitibl Pow & Paper, 2 22% 22% 21% Adams Exp (1.60)... 79 274 Adams Exp pf (5)... 208 9 23 Adams Millis (2).... 1 26% 29% Addressogr'ph (1%). 32 33 Ahumada Lead...... 103% Alr Reduction (3). 16 Air Way El Ap (2%). 1 Ajax Rubber. 414 Alaska Juneau. 6 18 Allegheny Corp 87 Alleg Cp ww §30 5. 55 Alleg Steel (12.30). 32 Allled Ch & Dy (né). 484 Allls Chalmers (3).. 18 Amerada Corp (2). 4% Am Agricul Chem. 23 Am Agricul Ch pf 41% Am Br Shoe (2.40 Am BrSh & F pt () §% Am Brown Bov Elec. 60t Am Brown B E pf (7)120s 108% Am Can (4). 259 42 Am Car & Fdy (6). 39 Am Chain (3) 75% Am Chain pf (7). 36% Am Chicle (13). 914 Am Com Alcohol. 33% Am European Secur. 56'% Am & For Power. 95 Am & For Pw pf (6). 106% Am & For Pw pf (7). 92 Am & For Pow 2d pf 18% AmHawailan (+10) 215 Am Hide & Leather 55 Am Home Pr (4.20 31 Am Ice (14) . 28% Am Internat] (2). 1% Am La Fr & Foamite 15 Am LaFr & Foam pf. 35% Am Mch & Fdy Con. 6 AmMach & Meta 28% Am Metal Co (13%). 65 Am Nat Gaspf (7).. 481% Am News (jt4)..... 72 Am Pow & Lt (31). 99 Am Pow & Lt pf ( 75 AmP&LDLA (3 80 AmP&Lpf A st (5) 28% Am R & St San (1) 48 Am Roll Mill (n2)... 52% Am Safety Razor (5) 1% Am Ship&Com..... 1 46% Am Shipbuilding (5) 10s 53 Am Sm & Ref (4) 44 6915 Am Sm & Ref pf (6). 5 101% 101 18316 Am Sm & Ref pf ( 4 1381 1381 100% Am Snuft pf (6) 35% Am Steel Fdy (3) 110% Am Steel Fdy pf (7). 47 Am Sugar Ref (5) 200% Am Tel & Tel (9). 118 Am Tobacco (new). 117 Am Tobacco B new.. 120 Am Tobacco pf (6).. 118 Am Type Fdry (8). 78% Am Water Wks (n1). 19% Am Woolen pf...... 6% Am Zinec Lead & Sm., 44% Anaconda Cop (3%). 26'% Anacon W & C (114). 18 Andes Copper (132). 19% Archer-Dan-M (2). 100% Archer-Dan pf (7) 4% Armour of 11l (A) 2% Armour of Il (B) 5 Arnold Constable. 28 AssoDryQ (23)... 194 Atch To& S Fe (10). 102% AtehTo& S F pf (5). 144 Atl Coast Line(110). 30% At Refining (12).... 2515 Atlas Stores (n1). Auburn Auto (§4). ... 37 Auto Strap Saf R(3). 4% Aviation Corp of Del 5% 5% 19% Baldwin Loco (1%). 82 34% 384 104 Baldwin Loco pf (7).130s 106 106 96% Balto & Ohlo (7).... 6 1007% 100% 63 Bang & Aroos (3%) 2 78 7 20% Barnsdall A (2)..... 19 221 22% 97 Bayuk Cig 1st pf (7). 60s 97 97 671 Beatrice Cream (4).. 8 87% 86% 101% Beatrice Cr pf (7 2 108% 108 49% Beech-NutPkg (3).. 38 59 59 2 Belding-Hemingway. 2 4% 4% 79% Bel Nat Rys pf 15.61. 3 824 821 27% Bendix Aviation (2). 73 34% 33% 31% Best &Co (2).. . 89 52% 50% Bethlehem 8 . 70 891 88y 122'% Bethlehem Stpf (7). 3 128% 128 17 Bloomingdale Bros. . 1 25 25 74 Bluw'thal& Copf (7).160s 83 83 24 Bohn Alum&Br(1%) 70 Bon Ami (A) (15) 18 Booth Fish 1st pf. 60% Borden Co (k3). 23% Borg Warner (3). 13% Briggs Mfg Co. . . 12% Brockway Mot Trk.. 58% Bklyn-Man Tr (4)... Bkiyn Union Gas (5) 47 134% 132 113% Brown Shoe pf (7)... 10s 117% 117% 13% Bruns-Balk-Col. o 1 16% 16% 5% BrunsTer& Ry S.... 1 9% 9% 19% Bucyrus (1).. 2 24% 24% 7% Budd (EG) (1). 6 B8 8% 60 Budd (EG) pf (7)...208 55 55 8% Budd Wheel (1)..,.. 5 11% 11 20% Bullard Co.... « B 260 264 26% Bulova Watch (3)... 3 27% 27\, 1100 100 16% Burns Bros (B)... 2 24% 24 89% Burns Bros pf (7)... 908 97% 97% 29% Burr Add Mach (1).. 23 26% 35% 58 79 TT% 16 52% 51 18% 18 1 1 5% 93 3 50 11 2845 9 56 28% 23% 6 8 38 93 50 280% 55 37% 138 219% 217% 20 127 126 46 1307% 129% 1126 126 2125 124 67 908% 97% 2 14 47% Calumet & Arizona.. 13 Calum & Hee (al%). 7 14% 17 Campbell Wyant (2). 1 19 56 CanadaDry G A (5).. 15 66% 65% 19 187% 185 31 47 46% 2 20% 20% 99 191% 188 Can Pacificnew...... Capital Admin (A).. Case (J 1) (6).. 115 Case (J 1) pf (1) 53 Caterpil Tr (13%) 12% Celanese Corp. . 9 Celotex Co. 3% Century Ri 40% Cerro de Pasco (6). 19% Checker Cab (4.20).., 444 Ches & Ohlo (2%)... 51 Chesapeake Corp (3); 2% Chic & Alton, , . 8 3 2% Chic & Alton pf. 1 2% 2% 8% Chic Great Western., 5 10% 10% 27 ChicGreat Westpf.. 8 38% 37% 124 Chic MilStP&Pac.. 7 16% 164 19% Chic MilStP&Ppf.. 2 24 23% 66 Chicago& N W (6).. 19 69 68 11% Chic Pneu Tool. 17 19% 18% 4 99 99 b5% 28% 40 0s 82 82 12 7% % 41 184% 181% 52% 13 23 45k 43% 80 33% 31 65 51% 50% 4 69% 69 2% 38 City Jce & F' (k3.60) ., 82 City Ice & F pt (6%) 1 5% City Stores (50¢). 133% Coca-Cola (6). 48% Coca-Cola A (3) 50 Colgate-Pal-P (2%4). 14% Collins & Atkman.., 12% Colonial Beacon 8615 Col Fuel & Iron (3). 55 Col Gas& El (2).... 104% Col Gas & EIpt A (6) 1 109% 109% 12% Col Graph (a28¢).... 87 18% 174 108 Columbian Carb (16) 36 142 139% 23% Comm Credit (2).... 12 26% 25% 22 Comm Credit pf B(2) 108 25% 254 76% Comm Cred 1st (614) 208 924 28% Com In Tr (g1.60)... 26 37% 4 CommInvTrwar.:. 10 6 89 Comm Inv Trpf 6%.. 2 100 20% Comm Solvents (11). 185 27% 125 Comwlth & So (60c). 230 14% 99 Comwlth & Sopf (6) 14 102% 101% Congoleum-Nairn. . . 1 Congress Cigars (4). Consol Cigars (5) ., .. 15% Consol Film (2).. 22 204% 18 Consol Filmpf (2).. _ 9 21% 20% 96% Consol Gas N Y (4).. 335 118 111 99 Cons Gas N Y pf (5). 11 104% 1041 % Consol Textiie e O 11% Container A (1.20)... 4 3% Container B, . 4 18% Contl Baking A. 3% Contl Baking B.. 6 50 ContlCan (23%). . 15% Contl Diamond (2). 50 Contl Insur (2.40). 3% Contl Motor 18% Contl Oil of Del 16% Contl Shares (1). 83% Corn Pr Ref (14%) 15% Coty Inc........ 26% Crof Wheat (12%) 38 Crown Cork (£2.40) 1 70% Crucible Steel (k6).. 3 764 754 104 Crucible Steel pf (7). 808 114 112% 2 Cuba Cane Prod. .. 1 3% 3 38% Cudahy Packing (4. 1 13 62 11 4 b 360 65% % 2 120 Wright Corp, 19 7 6% T% Curtiss Wr Corp A. 5 9 8% 56 Cutler-Ham (3%). 832 65% 63 24% Davison Chemical... 2 18 Debenhams (70c)... 1 20 Deere & Co pf (1.40). 146 Delaware & Hud (9). 120 8% Curtl: 5 23% 6 170% 170 17 251% 242'% 6% Dome Mines (1). 1 10% 9w 18 Dom Stores (11.20) 67 Drug Corporat (4)... 83 15% Dunhill Intl (34). 39 24% 23% Prev. Clos. Closs. 5 127 129% 126 124 977% 29 10% 48% 21% 2244 27w 92 261% 32% L 18% 1 145% 121 2554 37T% 62 1147 110% ", 10314 101% 107% 50% 63% 803 501 185 43 a8 894 55% ™ 16% 105 111% Tl 100 4 109 4 113 4 109 A 95% Du Pontde N (14.70) 129 324% 1141 DuPdeNdebpf (6). 4 176% Bastman Kodak (18) 31 19% Eaton Axle &S (3).. 101 38 Eitington-Schild pf.. 38 55% Elec Auto Lite (6)... 48 106% E! Auto-Lite pf (7)., 208 Fairbanks Copf. ... 844 Fairbanks Morse (3) 116 Fed Min & Smelt. ... 30 Fed Wat S A (e2.40). 251 Federated Dept Str 56 ¥id Ph Fire In (2.60 19% Firest T& R (1.60).. 697 Firest T& R pf (6).. 46 First Nat Strs (23). 1% Fisk Rubber 5 6 Fisk Rub 1st pf cv. 40 Florsheim Sh A (3).. 22 Follanshee Bros (2). 60%% Foster Wheeler (2) 10 Foundation Co. .. 281% Fourth Natl Invest 16% Fox Film (A) (4) 37 Freeport Tex (15). 2 Gardner Motor. . 7 Gen Am Investors. 8814 Gen Am Inv pf (6)... 78t% Gen Am T'k Car (34) 38% Gen Asphalt (4). 141 Gen Bronze (1) 32 GenCableA.. 79 Gen Cable pf (7). 40% Gen Cigar (4)... 60% Gen Electric ( 11% Gen Elec spec (60c) 46% Gen Food Corp (3). 8 GenG&EIA (e30). Gen G & EI pf A (7). 40% Gen Mills (3).. 89 Gen Mills pf (6)... 37% Gen Motors (13.30) 92% Gen Motors pf (5). 8t Gen Outdoor Adv. 24 Gen Out Adv (A) (4) 30% Gen Pub Serv (b6).. 20 73% Gen Ry Signal (5). E 101 Gen Realty & Util. 65% Gen Refract (t4%) Gen Theatre Equip Gillette Saf Raz (n 10 Gimbel Bros. . 667 Gimbel Bros p! 14% Glidden Co (1.20) 21 208 4 1 1 983 1 84% Gold Dust (2%) 21 Goodrich (B F) 50 Goodyear Tire (5). 8% Gotham Silk Hoslery 6 Gould Copper. . 5% Graham-Paige. 18 Granby Con Min (3). 30 Grand Silver S (m1). 10 Grand Unfon. 84% Grand Union pi 29 Grant (WT) (1). 71% Gr North of (5).. 18 Gr Norctf Ore (a%). 17 Gr West Sug (1.40). . 110% Gr West Sug pf (7). 1908 12% Grigsby Grunow. 42 90 Gulf Mob & N pf (6). 1 85 Gulf States Steel (4) 4 9815 Gulf St Stl1stpf (7) 10s 26 Hackensack W (1%) 26 Hacken pf A (1%). 12% Hahn Dept Stores... 1 71% Hahn Dept 8 pf (614) 99 Hamilton W pf (6).. 7% Hartman Corp (B).. 5% Hayes Body.... 70 Hershey Choc (5) 26% Holland Fur (et2%). 5 Hollander Sons. 72 Homestake Min (7). 7% Houdaille Hershey. 49 Household Fin pt ( 524 Houston Ofl (b10%) 25% Howe Sound (t4%) 25% Hudson Motors (3).. 12% Hupp Motor Car (2). Illinofs Central (7).. Tllinofs Cent pf (6). 19% Independ O & G (2) 4% Indian Motor Cycls 8% Indian Refining. 154% Ingersoll Rand (t5) 68 Inland Steel (4).. 12% Inspiration Cop (2) 10% Insurance Sh (45c).. 9t Ins ctfs (Md) (60c).. 20% Interboro Rap Tran 4% Int Agricultural. 152% Intl Bus Mach (n6)., 11 Intl Carriers (25¢)." 55% Intl Cement (4).... 5 Intl Combustion 30 Int Comb Eng pf. 72 Intl Harvester (2 140% Int Harvester pf (7). 3134 Intl Hydro El A (e2) 65% Intl Match pf (4).... 19 Intl Mer Marine (2).. 18 20% Intl Nick of Can (1). 1752 69% Intl Paper pf (7), 0 14% Intl Pap & P (A) 2.40 9% Intl Pap & Pow (B) 6% Intl Pap & Pow (C).. 69 IntIPap&Ppf(7),, 2 88 Int Print Ink pf (6).., 508 18 Intl RysCent Amer., 708 36 IntlSalt (3).. . 9 39% Intl Tel & Tel (2). 18 Inter Dept Strs (2). 13% Investors Equity (2). 43 Jewel Tea (14)... 70 Johns-Manville (3) 118% Jones&Laugh pf (7).120s 1% Jordan Motor Car. ... 8% Karstadt (R) (1.08)., 23 2 3 Kelly-Sprin| B 20% Kelly-Spring 8% pt 22% Kelsey Hayes (2) 71 Kelvinator Corp. . 33% Kennecott Copper(2) 5uSaa o PO PR PR Py 1% Kolster Radlo..... 214 Kolster Radio ctfs. 26Y% Kresge (SS) Co 1.60.. 50 SH) Co (p1).1 23% Kreug & Toll (1.60)., 21 Krog Gr & Bak (al) . 76% Lambert Co (8 29% Leh Port Cem (2%) 7% Lehigh Valley Coal 667% Lehman Corp (3). 18% Lib Owens F' G1 (1) 86 Lig & Myers B (16).. 138 Ligg & Myers pf (7) 4 20 Lima Locomotive. ... 52% Liquid Carbonie (4). 42% Loew’'sIne (3).....« 86% Loew's Inc pf (6%).: 84 Loew's pf xw (6%) .4 Loft Inc ) Co Loulsiana Ofl. 33 LouG&E (A) 116 Louls & Nash (7). 20% Ludlum Steel. McCall Corp (23%) . 56% McCrory (B) (2). 14% McIntyre Pore M (1). 61 McKeespt T P(15%. 14% McKesson & Rob (1), 35 McKes& RDf (3%) 0 12 McLellan Stores....; 46% Mack Trucks (6).... Macy RH & Co (nt3) 10% Madison Sq G (1%).. Copper (4). . lev mod g (d5. 36% Marshall Field (2%). $2% Mathieson Alkall (2) 115 Mathieson pf (7). ... 210 40% May Dept 21% Maytag Co pf (3). 26% Melville Shoe (2).. 10 Mengel Co (2)... 00 172 Mex Petrolm (132). 16% Mexican Seaboard... 13% Miami Copper (1%) . 53 Mich Steel (h2%)..s 221 Mid-Cont Pet (2). 7 Middle States Oll ct 21% Midland Steel (3) .. 84 Midiand Steel pf (8. 10% Minn Moline Pow. . 327 Mo Kan & Texas (2 92 Mo Kan & Tex pf (7. 57 M uri Pacific. Y 115% Missouri Pac pf (| 16% Mohawk Carpet. ... 35 Monsanto Ch (g1%). 29% Montgom Ward (3) 8% Moon Motors....... Morrell & Co (4.40) 314 Motor Meter G & El 841 Motor Products (2) 21 Motor Wheel (3). (Continued on Page 14.) 123% Trading Continues Small and Gains Are Confined to Narrow Range. BY CLAUDE A. JAGGER, Assoclated Press Financial Editor. NEW YORK, September 10.—Cheered by further improvement in business statistics, professional speculators con- tinued for the fifth successive day to make bullish demonstrations in the stock market today, but the general public still remained rather cold to equity shares. . The advance, while limited, was broa embracing most sections of the lisf Utilities, merchandising issues and se eral of the manufacturing issues were in particular demand and rails showed a better tone. Such shares as American Can, Radio, Air Reduction, Westing- house, General Electric, National Bis- cuit and Paramount gained a point or more. Shares selling up 2 to more than 3 included Byers, Spang Chalfant, American Power & Light, Vanadium, Pacific Lighting, Atchison and Union Pacific. Allled Chemical sold up nearly 5. Steel Reviews. The weekly steel reviews, while a lit- tle confusing owing to different methods of computing rates of production and the Labor day holiday, were again cheerful. Iron Age reported the fourth consecutive weekly increase in ingot production, carrying the industry up to 58 per cent of current capacity, against 52 per cent early in August. Steel said that while little improvement was noted at Pittsburgh, quickening at Cleveland, Chicago and Youngstown was notable. The U. S. Steel Corporation reported & drop of about 440,000 tons in unfilled orders during August, the largest de- cline for that month in seven years, but ‘Wall Street was inclined to believe the corporation would not have increased its rate of production without confident expectation of better business in the Fall. The figures were not interpreted bearishly, the stock selling up to 173%, duplicating the high for the current movement. Gulf States Steel passed its dividend, as expected, but President Coverdale reported a turn for the better in its business. 4 Particularly pleasing was the tabula- tion of total freight car loadings for the last week in August, showing a gain of 43,955 cars over the previous week, a gain considerably larger than is sea- sonal for the genod, and lifting the volume of freight movement from the levels of 1922 to those of 1924. The Bureau of Railway Economics reported that class 1 roads earned on the aver- age of 3.76 per cent on their investment in July, a gain over 3.35 per cent in June. Store Sales Report. The Federal Reserve's report that 530 department stores showed a drop in August sales volume of 11 per cent from August of last year was accepted as indicating water over the dam, since several merchandising organizations have recently reported improvement. PARLEY ON CREDIT. Consumer credit will be considered from many angles at the annual con- vention of the American Association of Personal Finance Companies to be held here September 23-26. It is expected that delegates will be present from the 24 States which have enacted the uni- form small loan law sponsored by the Russell Sage Foundation. INVESTMENT TRUSTS NEW YORK, Stepember 10 (#).— Over-the-counter market: Am & Cont Corp Atl & Pac Int Unit Chelsea Exchange A Chelsea Exchange B Deposited Bank Share Ser Diversified Trustee Shares Incorporated Investors . int Secur Corp Am 6% % Investment Co of Am . Investment Co of Am b Jackson & Curtis Inv A: Ofl Shares Inc Units .. Super Corp of Am Tr Shart thers unchanged. DIVIDENDS DECLARED NEW YORK, September 10 (#).— Regular. LR AR gurety e "aT otr T 1 ept. 10 Ins....30¢ . 10 75¢ . 10 e e e Sap Qet. Oct. oct. Oct. Amer Pow & DI A sta .51.28 Amer Service pt. $1.75 Ampere Bank (Eait | of Hartford. .25¢ Bissell (T E) Co. Do pf.. wened Brillo Mfg A Burco, Inc, pf Campe Corp. Central Trust of .. S81.37% @ Chi Pne ool pI. 87 on! Rapid Transit prof A... e O OOOOOL O PO DO ¥t City Trust & Bi Bk (Youngs Coca-Cola Bottling A (Cinn) 2}a0 .$1.50 incoln Trust (Scranton).. Eastern Util Invest lian Elec. Howell Fiec Motor & Home Dairy A.. Hoskins MIg. P Do Indianapolis P& T 6% D .$1.62 Investors ~Eaquity. . .50 Iowa E1 7% BIA Towa P & L 6% pf Liberty Bhare., Moline Street Tr & Sav Bank....$2. 8 . 888.. ..838 g.888. .. b R nnBE o e B - (Los Angeles) United _Elastic. United Loan Valvoline Ofi f. Waukesha Motor. t Tow: k. e Liberty Share......1% @ Omitted. Brown Durrell News Trend. For the third successive week rail- road freight shipments have shown a larger than seasonal expansion as com- pared with the preceding week. Total Of 984,504 cars for the week of August 30 was 43,955 cars greater than in the previous week, but lower than any like week since 1924. Compared with the 1929 period, decline was 177,596 cars, while against 1928 drop was 132,207 cars. All commodities showed increases over the week previous; grain and grain products shipments were the only clas- sification to exceed shipments of year ago. Corporate news is varled, but for most part unfavorable. Houdaille-Hershey passed 30 cents class B dividend payable October 1. American Telephone & Telegraph ported a large decrease in July oper: ating . - Earnings reports are generally unsatisfactory. The gain in Pacific Telephone & Telegraph earn- ings over last year is largely the result of recent acquisitions. The Companies. American Brown Boveri Electric on August 1, subsidiary, New York Ship- building, had contracts to build 95,725 tons steel vessels. American Telegraph & Telephone July operating income off 23 per cen 7 months 14 per cent below year ago. Ludwig Baumann & Co. August sales up 6.6 per cent; 2 months 3.8 per cent above vear ago. ha‘;ethlelh:mk Sxteel Augu!'i 1 subsidiary contracts for 16 vessels aggrt 62,309 gross tons. g Continental Baking sells interest in Commander-Larabee Corporation to National Foods Corporation. Continental Can principal packer can plants operating overtime. Detroit aircraft—About 90 per cent Lockheed Aircraft stock deposited un- der share exchange offer. E. I. du Pont de Nemours & Co. an- nounces new product, Alkanal, a wet- ting-out and disbursing agent. Diamond Match reported purchase of stock of this company by Ivar Kreuger or his companies denied. Ford Motor, Ltd., begins work on new $1,500,000 Cologne plant; completion expected by March 1, 1931. Hercules Motors first half earnings $1.74 common share, against $2.09 year ago. ‘Houdallle-Hershey Corporation passes 30 cents quarterly class B dividend due about October 1. Jordan Motor car had deficit $445,371 in first half, against profit $151,138 year ago. 0il Well Supply stockholders ratify sale of assets to U. S. Steel, Pacific Telephone & Telegraph July net income up 352 per cent; seven months, 6.6 per cent above year ago. Tobacco Products first half earnings 48 cents class A share. ‘Ward Baking not planning merger with Gold Dust or other Morrow con- cerns. Westinghouse Electric & Manufactur- ing gets order from Government for two battleship turbines. GROWING INVESTMENT DEMAND PREDICTED The persistent strength of high-grade bonds has occasioned a demand which is spreading through the general group, including preferred stocks, according to a comment on the investment market by E. A. Plerce & Co. “Favored with continued low money rates, a marked falling off In new in- vestment offerings and the prolonged decline in commodity prices, high-grade bonds have reached a level, which, with the exception of the fractionally higher point of March, 1928, is the highest since February, 1912, the statement says. Washington Produce Butter—One-pound prints, 3412a44%%; tub, 42a43. Poultry, alive—Spring chickens, large, 28a30; medium, 27a28; small, 25a27; Leghorns, 24a25; fowls, large, 23a24; small and medium, 17a18; Leghorn fowls, 14al5; roosters, 15; ducks, 15. Home dressed—Spring chickens, large, 33a35; medium, 32a33; small, 30a32; fowls, large, 27a28; small and medium, 23a25; Leghorn fowls, 18a20; roosters, 18a20; ducks, 20a22; turkeys, 32a35. Meats, fresh killed- al 18a22; lamb, 23a25; pork loins, 34; fresh hams, 25; fresh shoulders, smoked hams, 28; smoked shoulders, 20; bacon, 28; lard, in bulk, 15; one-pound packages, 16. Live stock—Calves, 6a10; lambs, 9. Fruits—Watermelons, 40a75; canta- loupes, Rocky Fords, flats, 1.00a1.25; Hurlocks, Eastern Shore of Maryland, large crates, 1.25a1.50; Persian melons, 1.50a2.50; honeydews, 1.25a2.00; honey- balls, 3.00a4.00; oranges, 6.00a8.50; lemons, 6.00a6.50; limes, per 100, 1.50; apples, nearby, 75a1.50; box stock, 2.75a 3.00; peaches, Elbertas, 1.50a3.00; Hales, 3.50a4.50; plums, 1.50a2.50; lamsons, pony baskets, 1.25; grapes, Ribiers, 3.00; Tokays, 2.50a2.75; Thompson, seedless, 1.25; figs, 4.50a5.00; grapefruit, 6.50a 7.50; pears, 1.25a2.50. Vegetables—Potatoes, 3.50; sweet po- tatoes, 5.00; tomatoes, two-peck baskets, 1.00a1.50; peas, 4.0026.00; string beans, 2.00a2.75; lima beans, New Jersey, 5.0 Eastern Shore of Maryland, 3.00a3.50; carrots, per 100 punches, 4.00; cut off, per bushel basket, 1.25; corn, per dozen, 30a40; eggplant, 75a1.00; turnips, 1.50a 2.00; beats, per 100 bunches, 4.00; cu- cumbers, 1.50a2.00; caulifiower, 2.50a 3.00; squash, two-peck baskets, 75a1.00; kale, 1.50; spinach, 1.75a2.25. Egi rrent receipts, 29a30; hen- nery, 34a35. First Mortgage Loans Lowest Rates of unterest and Commission Thomas J. Fisher & Company, Inc. Specializing in Mortgages on Investment Properties JAMES Y, PENNEBAKER ’ Nat.5291 1520 K St. N.W. Courteous Treatment THOS. E. JARRELL CO. REALTORS 721 _10th St. NW. _ Nat'l 0765 REAL ESTATE LOANS Made at Low Interest Rates TYLER &‘_R"l‘.‘l:l'l'IEEFORD for 3, ::l" !l:‘t:.llufill!li'm 1520 K St. N4W. National 0475 American Machinery, Says U. 8. Report. By the Associated Press. A sidelight on the United States Gov- ernment’s refusal to take hasty action in prohibiting importations of Rus- sian produce appears today in a Depart- ment of Commerce statement, which dlsc}?s:s! theA SOV‘leta as the leading market for American tractors during the first half of 1930. Exports of this merchandise to Rus- sia reached the unprecedented total of $21,715,867, not including parts, during the six months, as compared with only $4,300,000 during the corresponding pe- riod of last year, Canada, which was formerly the chief market for American- made tractors, fell far behind during the first half this year, exports to that country amounting to $8,100,000, a de- crease of about one-third from the cor- responding period of 1929. This Russian business, which in- cluded also more than $3,000,000 worth of tractor spare parts, was divided be- tween wheel tractors in the amount of $16,500,000 and the tracklaying type valued at $5300,000. The trade was particularly heavy during the first part of the year with the completion of large orders placed in 1929, shipments there- \;;Aéi;r starting in the latter months of notes in denominations 00 up, g 6% % interest. The type of securities which please careful investors. CHAS.D.SAGER. 924-14> SLAW. Nygerst Reports from the trade are now cur- rent to the effect that additional large contracts have been signed with lead- ing American tractor manufacturers the Russians for shipments which wi.(l start the latter part of this year and carry over into 1931. _ Total exports for the six-month pe- riod this year amounted to 35,790 trac- tors with a value of $40,537,650. With the value of engines, parts and acces- sories added to the above the total is ..;vev:xl;zd to $49,852,449 for the half-year First Mortgage Loans! 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. FREIGHT LOADINGS. By the Associated Press. Loading of revenue freight during the week ended August 30 reached the highest total attained in any week of the present calendar year. Miscella- neous freight alone was responsible for 18,000 of the 43,955 cars gain over the previous week. The following totals for comparable periods were pared by the American Railway ition: Week ended August 30, 984,504 cars; previous week, 940,549 cars; same week last year, 1,152,100 cars. e ‘World stocks of nitrate total approxi- mately 2,257,000 tons. o Equitable Co-operative Bldg. Assn Subscription for the 99th Issue of Stock Being Received Plan for the Future Now! explain our budget system of saving to you! Start saving while you are earning a steady income! Sout, st corner: &gmflh. is orthwest WARD J.STELLW. >R E ENT Washington is naturally a community of widely diversified activities. The Union Trust Company takes these into account in developing its services. And always the people who come to this city, as well as local citizens and firms, find that these services are rendered in a friendly and personal way that spells “welcome” to every customer. 29 paid on Checking and 3% on Savings Accgunu | OMPANY UNIOPLIB,{',EI%%WE& OF FIRST MORTGAGES i WISH OR HAVE? You can easily turn wishing into having if you’ll take steps to do it. An investment in our 6% FIRST MORTGAGES will provide the financial re- sources — definitely and regu- larly. Here is one type of in- vestment that has no worries— either for its income or for the principal. Owver a Third of a Century Without a Loss May be purchased in amounts from $250 up. Hill Building 17th & I Streets Several single offices and suites available at most rea- sonable rentals. Avply g Representative, Moore &- Hill, Inc. 730 17th St. N.W. SAUL CO. 925 15th St. N.W. No obligation! } A .S