Evening Star Newspaper, September 16, 1930, Page 13

FINANCIAL., TRADING 1S QUIET ON D. . EXCHANGE iggs ‘Stock Gains $19 a Share on Ten-Lot Sale. Bonds Are_Dull. BY EDWARD C. STONE. Ten shares of Riges National Bank lock sold on the Washington Stock xchange today at 495 a share. This 25 & gain of $19 a share, as the Jast evious sale was recorded at 476 Capital Traction, a small lot transac- tion, sold ex-dividend today at 60%, which has been the prevailing price for the past two wecks or more. Mergen- thaler 1Anotype, which i5 also ex-divi- dead; sold o the extent of 20 shares at 97 Potemac Electric Power 6 per cent preferred moved at 111 and 111%;. Ten hares of Washington Railway & Elec- | tric preferred changed hands at 98 Federal-American Co. preferred figured in a very small sale at 100. Bonds were much neglected, the only sale being §1,000. Anacostia & Potomac Railroad Guaranteed 55 at 94, Fed- eral-American National Bank stock was quoted today at 280 bid and 325 asked, while. Merchants' Bank & Trust stock was quoted at 110 bid and 150 asked. ‘These are the banks mentioned in the latest merger negotiations. Natural Gas Plans Pushed. The Columbia Gas & Electric Cor- poration - has contracted with the Washington Gas Light Co, for the de- livery of natural gas into the District of Columbia and also to supply natural gas to the American Electric Power Corporation for distribution in the York, Pa., area. It was announced in The Star several weeks ago that Pres- ident George A. G. Wood was complet- ing arrangements for putting natural gas in Washington by the end of this year or early nmext year, Latest detailed plans indicate that natural gas for this city will be brought through a new pipe line that the Co- lumbia system proposes - to build through West Virginia and Virginia and which will make the fuel available also to other Eastern cities as soon as negotiations have been consummated. Construction of a natural gas trunk system through Virginia will make three main trunk lines running to the East- ern seaboard. The northernmost trunk 1tne of the Columbia system serves the territory of Binghamton, N. Y. and continues east and _southeast Into Northern New Jersey. The central trunk system, comprising two pipe lines, runs to the outskirts of Philadelphia, and the Southern system, to be built, will run northeast from Washington through Baltimore and Philadelphia to the Jer- sey City territory. Better Bond Market Seen, Many factors are operating to bring about' further improvement iu the bond market as the trend toward conserva- tive investment continues, Halsey, Stu- art & Co. declare in their quarterly re- view, which was issued today. In sup- port of their theory, it is pointed out that the supply of the highest grade bonds has at no time quite overtaken the demand. Interest of individual in- vestors has been increasingly in evi- denice, and the market has been making progress in the face of an unusually heavy volume of new offerings. Less widely known issues have not been in sl great demand, the review points ut, and the natural oconsequence is that-this class of securities still re- maigs to benefit by the preference that has arisen for investment over any form of speculation. Mere Business Gafns Near. } *“There are signs of 4t least a normal popal recovery in many lines of busl- ek this Fall, say Hornblower & Weeks in their September Investment Review.: ! "With inventories generally low, both from) a volume and dollar standpoint, d, cash balances large, a relatively ight improvement in retail demand should almost immediately result in a stimulous to business, and’ thus tend towsrd generation of an optimistic gentiment, a most important factor. nder these conditions, we see no other oice than to be favorably mpressed by the near term outlook for high-grade equities.” Heard in Financial District. 'At the regular meeting.of the board of directors of the Continental Trust Co. yesterdsy a dividend of 11z per cent was declared, payable September 30 to stockholders of record Septem- ber 25. “The local offices of Alexander Brown & Bons in the Woodward Building were moved into their new quarters today ‘The investment firm is now located only one door from where it has been sit- uated for so many years. H. F. Kimball of the American Se- curity & Trust Co. and a member of the board ‘of governors of the American Ttistitute of Banking leaves the city to- morrow for a vacation motor trip through New England. He will return Oetober 1. Tonight's open meetings of Washing- ton Chapter, American Institute of Banking, at the Williard, will have & record attendance, 900 tickets having been given out. Paul B. Detwiler of Philadelphia will be the chief speaker | and certificates will be awarded to a | host of institute graduates. Wall Street Briefs By the Associated Press. The Republic Steel Corporation has blown out the Trumbull blast furnace at Warren, Ohio, in preparation for its expansion into the largest furnace of the corporation. The cost of the im- provement will approximate $325,000,- 000 and when completed the furnace capacity will have been increased from 750 tons to 1,000 tons of pig iron daily. ‘The work is expected to be finished and the fyrnace relighted by November 1. | scheduled to be offered | tomorrow include $20,000,000 first lien | and unifying mortgage 4'; per cent bonds of the Consumers Power Co., due in 1858, and priced to yield over 4.40 per cent, and $2,500,000 convertible 6 - g gold debentures of Twin States Atirfal Gas Co. maturing February 1, 1983, .at 98%, and accrued interest to yield over 675 per cent. Reports In Wall Street today said that United Gas Improvement Co., had purchased a substantial minority inter- est in the Consolidated Gas, Electric Light & Power Co. of Baltimore. New York interests identifiec with the Bal- timore company denied. however, that any. new group had obtained control of the company. Frank Phillips, president of the Phil- lips Petroleum Co., said arrangements have been agreed upon for the Phillips New securitie 141 110 2744 2744 127 2691 1307% 127 114% 1247 10615 445, 17% 8ty 531 51% 115% 3714 29% 8y 4% 13% 2004 5012 24215 10815 1754 51% 106 37 263% 81% 9% 38 116 122% 845y 34 6% 92 38% 5% 56% 110% 69 8 0% 5015 26% 78% 94 178% 308 338 31% 43 16% 74 43 100 517% 110 118 4 51, 29% 112% 114 % 24 897 38 226% 5214 362% €0 814 677 518 8214 10 10% 26% 46% 80% 37 125% 321% 675 43 49 98% 13% 80 191% 647x 10274 20 87 110 199 40% 55 100% 38 20% 104% 151 33 22 18Y u7 19) 48 1261 1213 Pipe Line Co., & wholly owned subsid- iary, to obtain an interest in the Great Lakes Pipe Line, which will have its principal terminals at Omaha, Kansas { City, Des Moines, Chicago and Min- | meapolis. | Henry Shearer, assistant vice pres- , ldent and general manager of the Mich- igan Central Railroad, has been ap- inted vice president of the New York gncn] Rallroad, with jurisdiction over the Michigan Central Rallroad, and with headquarters in Detroit. He suc- ceeds the late E. D. Bronner. Walter C. Teagléey, president of the | 1147 9% Standard OIl Co. of New Jersey, re- turning from abroad, said that oil con- ditions in -Europe are like those in America, “the industry there is suf- fering from overproduction and de- mfi.pflufl for both crude and re- icts.” Mrpml id there Bave’sizcady emphaticaly have already 14% 19% 907 43% 24% Davison Chemical 24% 20 181 264% 189 Diamond Match (3) 10% 87% 67 4315 145 121 a7 62 10 1 14 59% 66 107% 104% 80% \ 63% exceptiing those designated by the letter s which shows those stocks to be sold in odd lots only. rev.1030— 103%. 101 Bbis 3% 44% 111% % 176% Eastman Kodak (t8) 26 214 THE EVENING NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. Note—All stocks are sold In one hundred-share lots Stock and Sales— Low Dividend Rate. Add 00. High Low 21 Abitibl Pow & Paper 1 22 647 Abitibi P& P pf (6). 21% Adams Exp (1.60)... & Advance Rumley. ... 15’ Advance Rumley pf. 103'% Air Reduction (t415) 16 Air Way El Ap (1%) 4% Alaska Juneau. 18 Allegheny Corp. .... 89 Alleg Cp $40 ww 514, 232 Allied Ch & Dy (né). 48% Allis Chalmers (3) 18 Amerada Corp (2). 4% Am Agricul Chem. 23 Am Agricul Ch pf 68 Am Bank Note (13). 61 Am Bank Note pf (3) ¢ 27 Am Bosch Magneto 118 Am BrSh& F pf (7). 808 121% &% Am Brown Bov Elee. 8 184 6014 Am Brown B E pf (7)1008 78 108% Am Can (4 ..., 328.120% 42 Am Car & Fay (6) 48 85 AmCar& y of (T) 39 Am Chain (3).. 36% Am Chicle (13). 9% Am Com Alcohol. 56 Am & For Power. 95 Am & For Pw of (6). 17 Am Hide & Leath pt, 55 Am Home Pr (4.20).. 31 AmIece(t4)... 28% Am Internatl (2). B89 Am Locomotive (4) 90 Am Locomot pf (7) 35% Am Mch & Fdy Con.. 656 Am NatGaspf (7).. 72 Am Pow & Lt ($1)... 99 Am Pow & Lt pf (6). 75 AmP&LPLA (3%). 80 AmP&LpfAst(5) 23% Am R & St San (13) 48 Am Roll Mill (n2) 1% Am Ship & Com. ... . 53 AmSm& Ref (4)... Am Sm & Ref pf (6). 13315 Am Sm & Ref pf (7). 42 Am Stores (2)..... 103% Am Sugar Ref pf(7)., 16 Am Tel.& Cable (5). 200% Am Tel & Tel (9). 118 Am Tobacco (new).. 197 AmTobacco B (112), 117 Am Tobaceo B new.. 120 Am Tobacco pf (6).. 106 Am Type Fdy pf (7)« 8K Am Water Wks (n1). 173 1003 9915 Am Wat W 1st pf (6) 4 105 29% Am Writ Pappf (4)., 1 87 6's Am Zinc Lead & Sm... 7 9% 44% Anaconda Cop (315). 70 464 25% Anacon W & C (1%) 13 & 347 Anchor Cap (2.40)... 7 41 102 Anchor Cap pf (63)s 1 107 18 Andes Copper (134).. 1 20% 19% Archer-Dan-M (2). 21% 4% Armour of I11 (A).. [ 2% Armour of Ill (B). 3 5 Arnold Constable. 3 8w 10 Artloom (1).... 3 104 28 AssoDryG (2%)... 28 36% 194 Atch To& SFe (10). 3 220% 102% Atch To& SFpf (5), 2 107% 144 Atl Coast Line(110). 5 143 3014 At Refining (12) 58 33% 62 Atlas Powder (4). 4 2% 0% 25% Atlas Stores (n1). 8 30% - 303 91 ' Auburn Auto (j4).... 60 12314 120 37 Auto Strap Saf R(3). 82 178 . 76 4% Aviation Corpot Del 15 6% b% 19% BaldwinLoco (1%).. 48 33 32 104%: Baldwin Loco pf (7). 30s 108 108 96% Balto&Ohlo (7).... 4 99% 994 784 Balto & Onfopf (4).. 2 811 81l 20% Barnsdall A (2)..... 4 22% 215 Belding-Hemingway. 1 4 67ls Beatrice Cream (4).. 15 841 35 Beech Creek RR (2). 808 41 27% Bendix Aviation (2). 16 31% 31% Best&Co (2).. ... 17 49% 75 Bethletem Steel (6). 168 =8n 24 Bohn Alum&Br(1%) 2 28 70 Bon Ami (A) (15).... 1 72 604 Borden Co (k3) 37 8% 23% Borg Warner (3) 1 28 131s Briggs Mfg Co. 41 19 125 Brockway Mot Trk.. 12 18% 62 Brockway Mot pf (7)140s 68% 58% Bklyn-Man Tr (4)... 18 67% 84% Bklyn-Man Trpf (8) 1 91 115 Bklyn Union Gas (6) 3 1293 13% Bruns-Balk-Col. 1 16 5% Bruns Ter & Ry §. 1 9% 19% Bucyrus (1) 3. 29 334 Bucyrusev p 9 36% 7% Budd (EG) (1) I 20% Bullard Co.......... 11 27 26'% Bulova Watch (3)... 11 27 £914 Burns Bros pf (7)... 108 97% 20% Burr Add Mach (1).. 19 34% 99 Bush Term deb (7).. 20 110 109% Bush T Bldg pf (7)., 90s 115% 2% Butte Cop&Z (50¢c).. 1 2% 114 Butte Superior. 1 1 13% Butterick Co, 3 19, 604 Byers (A M). 28 T4% 108 Byers (A M) pf (7).. 10s 110% 60% Calit Packing (4). 1 63 % Callahan Zinc & La.. 3 1 47% Calumet & Arizona.. 1 49 13 Calumet & Hecln.... 15 13% 56 CanadaDry G A (5)., B 64 165% Canadian Pacif (10).. 9 186 40% Can Pacific new. B 46 150 Case (J 1) (6). 53 Caterpfl Tr (13%) Celotex Co. ... 3% Century Rib Mills. . 19% Checker Cab 14.20), . 4414 Ches & Ohlo (2%). 51% Chesapeake Corp (3) 2% Chie & Alton, 2)4 Chie & Alton pi 121 Chic Mil St P & Pac. . 19% Chie Mil St P & P pf.. €5% Chicago & N'W (5).. 11% Chic Pneu Tool. .. 90 Chie R & Pac(7) 17 Chickasha Cotton Ofl 48 Childs Co (2.40)...,. 24 Chrysler Corp (3)... 48 28 38 City Ice & ¥ (k3.60)., 2 38% 81 City Jea & F pf (61%) 108 5% City Stores (50c) T41x Clev & Pitts (3%). 1334 Coca-Cola (6). 481 Coca- 50 Colgate-Pal-P (2 Colg-Palm-P pf (6). 12% Colonial Beacon. . 3615 Col Fuel & Iron (2).. 5 ColGas& El(2).... 104% Col Gas & El pt A (8) 124 Colum Graph (a%)., 108 Columbian Carb (16) 23% Comm Credit (2)...« 31% Comm Credit A (3) ., 284 Com In Tr (§1.60)... 2 3% 89 CommInvTrpf6%.. 1 101 20% Comm Solvents (31). 120 26% 12% Comwlth & So (80c), 162 14 99 Comwith & So pf (6), 13 103 104 Congoleum-Nairn... 30 111 237 Congress Cigars (4). 1 25 15% Consol Film 2)..... 4 20 18 Consol Film pf (2).. 11 213 965 Consol Gas N Y (4).. 185 108% 99'; Cons Gas N Y pf (5). 4 1043 % Consol Textile. . - 3 Kl 11% Container A (1.20) 2 164 1815 Contl Baking A. 9 281 3% Contl Baking B. 25 4 50 Contl Can (2%). 25 58 15% Contl Dia Fibre (1).. 12 16% 50 Contl Insur (2.40) 1 57% 31 Contl Motors, . 7 8% 18% Contl Oil of Del. 15 19 16% Contl Shares (1)...s 20 19 834 Corn Pr Ref (14%)., ' 17 89% 140 Corn Prod pf (7)..... 50s 14914 16% Coty Inc 17 1% 10% Crosley Radio....... 1 13% 4 12 Crown Zellerb'eh (1) 1 12 104 Steel pf (7). 208 114 ne Prod 1 2% 9 Cuba Co .o . B 11 814 Cudahy Packing (4). 1 1% 4 105% Curtis Publish (17). 2 116 4 114% Curtls Publish pf (7) 2 120 65 Curtiss Wright Corp. 17 6% T% Curtiss WrCorp A.., 28 8% s 55 Cutler-Ham (3%) 1 62 2 264 Deere & Copf (1.40)5 . 1 23% Delaware & Hud (8)s 4 167 11 241% 6% Dome Mines (1) 19 Drug Corporat (: A4 82 15% Dunhill Intl ($4).... ~61 18% 4 95% Du Pontde N (14.70) 112 118% 114% DuP deNdebpf (6). 1 120% s 120% 16% Bl 214 20% 265% 528 2414 5% 3414 828 63% 311 121% 17 82% 108 63% 11 31% 10614 85 878 261 49 1% 64 1021 139% 48 106 221 213% 119 247 123 126 113 9615 105 a7 9 45% 108 2214 52 215% 33 120% 6 250 176 1248 2 126 10s 113 204 1 218 2 7 81 10 36% 220 107% 142 825 4 8415 41 31 481 B’T% 28 72 TN 28 18% 188, 64 65% 91 127% 1614 9% 226 35 H : 110% 63 1 49 13 64 184% 461 167% 5% 121 148 224 65% 17 9674 174 514 214 388, 83 74 80 18314 23, 59 103 14% 47 61 109% 16% 124 25 31% 3314 101 26% 13% 102% 10% 25 19% 213 106% 1043 " 17% 16 53 3 109% 85 17% 78 132 4 25% 2 3T 18% 181y 8918 149% 17 13% 12 13 2% 9 414 1147% 119% 6% 8% 62 261 23% 166 234 9 81 16% 116% 120% 210% 2214 40 63 4 70% 10014 %, 4TI 5T 100 102 5% 40% 146 i\ 19% Eaton Axle &8 (3). 38 Eitington-Schild pf.. 55% Elec Auto Lite (6). 3% Electric Boat. ... T4 49% El Pow & Lt (1) 845 731 97% EI Pow & L'pf (6). 3 100% 4% Elk Horn Coal pf. . i B%, 44 Endicott-John (5). ... 39% Eng Pub Serv (2.40). 94% Eng Pub 8v pf (6).., 94% Eng Pub 8v pf (5% 39% Equit Office Bldg (3 35% Erfo RRecornsnes,m - 1 404 8 234 4 40 27 ‘64% (80s) 22% (250s) Prev. Clase. Close Py 75 261 9 26 123 163 Bl 21% 901 22 B4 26% 269% 5314 2 54 349 82% 63% 31 1210 18y 29% 481 94 58 43 15 70% 99 10614 86 8814 26% 49% 18 641 10214 140 48 1061 2218 2164 120 250 1241 1 126 113 100% 1 9 45% 20% 21% 54 3 8% 10 35 220 107% 142 33 T2% il 2 5% 33 108 YO8 811y 22% 4 . 84% % 311 495 885 28 72 T8 28 187 18% 64 67% 91 129 64 9% 23 35 1104 63 1 49 13 64 186 464 173% Bb% 1214 14% 22% 661 18% 967 17% 5215 28 38% 83 T 80 185% 59 103 14% 48 6214 109% 17% 129 25 374 343 101 26%, 1874 103 11 25 197% 215 108% 1043 16 28% 3% 58 16% 573 3% 19 18% 8910 1493 17% 114 2% 9 41 114% 120 6% 8% 62 26% 8% 166 241% 9 81% 184 118% : 120% 214 23 40 64'% K 3% 100% . B% 47w 574 100 102 4B 40% ~Prev.1930— High. Low 30% 61 26 22 1% 10 91 24%, Stock and Dividend Rate. Evans Auto Loading. Sales— Add 00. High. Low Close. 1 T4 Exchange Buf (133).140s Fairbanks Co. “ Fairbanks Co pf. Fashion Park Asso. . Fed Lt & Trac pf (6) deral Screw (3). .., Fed Wat S A (e2.40)., Federated Dept Fid Ph Fire In (2.60) Firest T& R (1.60)., Firest T & R of (6).. First Nat Strs (214). Fisk Rubber..... Fisk Rubber 1st pf. s Foster Wheeler (2).. Foundation Co. ..... Fourth Natl Invest. ., Fox Film (A) (4) Freeport Tex (+5)... Fuller pr pf (17.94)., Gardner Motor. . Gen Am Tk Cs Gen Asphalt (4). Gen Bronze (1) Cable. . hle pf (7). Gen Cable A... Gen Cigar (4)... Gen Electric (1.60) Gen e (60c). Gen Food Corp (3).. Gen Gas&El A(e30c) Gen G &EIpf A (7). Gen Mills (3).. Gen Mills pf (6). Gen C; 4 Gen Motors (13.30) > Gen Rea 51% 100% 106% 66% 21% 13% 27 374 150% 105 28 17% 174% 116 8% 100 110 9 213% k] 14 2% 15% 29% T o . (Contibued on Page 14 Gen Motors pf (5). Gen Outdoor Ad Gen Pub Serv (b6). Gen Ry Siznal (5). ty & Util. Gen R & Ut pf (e6) Gen Refract (14%) Gen Steel Cast pf () Gen Theatre Equi Gillette Saf Raz (n§ Gimbel Bros.. ... Gimbel Bros pf (7) Glidden Co (1.20) Gobel (Adolf) Gold Dust (23%)... Goodrich (B F). Goodyear Tire (5). Gotham Silk Hosiery Gotham S H pf (7) Graham-Paige..... . Grand Silver S (m1). Grand Union, .. Grant (W T) (1).. Gr North of (5)..... Gr Nor ctf Ore (a% ). Gr West Sug (1.40).. Grigsby Grunow. . Gulf States Steel 1 208 108 Hackensack W (13) 1408 Hahn Dept Stores. .. 10 Hanna pf (new) (7). 100a Hav Elec Ry pf (6) Hershey Choc (5). Hersh Choe pf ( Hershey Ch pr pf(6). Holland Fur (e12%). Hollander Sons. . Houdaille Hershey Housenold Fin pf (4 Houston O11 (b10% Howe Sound (t415) Hudson Motors (3) Hupp Motor Car (2). Tilinois Central (7)., Illinois Cen Is In (4) Independ O & G (2).. Indian Refining. .. ... Ind Ray (h5% stk) Ingersoll Rand (15).1 Inspiration Cop (2) Ins ctfs (Md) (60c).. Interboro Rap Tran.. Interlake Iron (1). Intl Bus Mach (né) Intl Carriers (25¢). Intl Combustion. Intl Harvester (214 Int Harvester pf (7). Intl Hydro E} A (e2) Intl Match pf (4) . Intl Mer Marine (2).. Intl Nick of Can (1). Intl Pap & P (A) 2.40 Intl Pap & Pow (C) Intl Pap & P pt (7)., Intl Printing Ink (3) Intl Salt (3) Int Shoe (3). . o Intl Silver pf (7). Intl Tel & Tel (2) ept Strs (2). Jewel Tea (14).... Johns-Manville (3).. Jones&Laugh pf (7). Jordan Motor Car Kans City Sou (5) <arstadt (R) (1.03) Kayser Jullus (234). Kelly-Spring Tire Kelly-Spring 6% pf Kelly-Spring §% pt Kelsey Hayes (2) Kelvinator Corp_ Kennecott Copper (2) Kinney (GR) pf (8). Kolster Radio Kolster Radio ctfs. .. Kresge (SS) Co 1.60 Kreug & Toll (1.60).. Krog Gr & Bak (n1). Lambert Co (8). . Leh Port Cem (2%) Lehigh Val (1414). Lehman Corp (3).. Lehn & Fink (3).. Liggett & Myer (16). Lig & Myers B (15).. Liquid Carbonie (4).. Loew's Inc (3) LoftInc.... Long Bell Lum Loose-Wiles (12.80) Lorillard (P) Co. Louisiana Oil. Lou G & E (A) (1%) Louls & Nash (7). Ludlum Steel. MeCrory (A) ( McCropy (B) (2) e Porc M (1) cespt T P(15%). ‘esson & Rob (1), McLellan Stores. ..., Mack Trucks (6). Macy RH & Co (nt3)" Magma Copper (4). . Man Elev mod g (d6), Marine Mid (1.20) .. Market St Ry pr pf. . Marshall Fleld (2% Martin Parry > Mathieson Alkali (2) May Dept Strs (n2).. Meiville Shoe (2).... Mengel Co (2)....... fetro Gold pf (1.89). Mexican Seaboard. Miami Copper (1%).. Mich Steel (h2%). Mid-Cont Pet (2). Middle States Oil et Midland Steel (3) . Mo Kan & Texas (2). Mo Kan & Tex pf (7). Monsanto Ch (g1%) Montgom Ward (3) Moon Motors. Mother Lode (20¢). ., Motor Wheel (3)...a Munsingwear (14) ... Murray (B) (2% stk) Nash Motors (4).... Nat Bella Hess Nat Biscuit n (2.80). Nat Cash Reg A (14) Nat Dairy (32). Natl Dept Stor Nat Lead (18)....... t Lead pf (A) (7). Nat Pow & Lt (1) Nat Ry Mex 1st pf. Nat Steel (2). Nat Supply (6). Nat Supply pf (Maee Nat Surety (6). N Y Alrbrake (3.60).; N Y Central (8).. .. Y Ch &St L pf (6). Dock. . Invest (1.20).. & Harlem (5) NHE&Hf (1) Ont & Western. . Y Steam pf(6). N Y Steam 1st pf (7) Norfolk & Southern. Norf & Western (10) North Am Aviation.. Pacific Coast 1st pf.. Pacific Gas & El (2).. 3 ¥ Y - Y N N N N N N N 4 35 208 608 13 1 11 280 10 1 1 13 2 5 27 230 9% 20 593 228 8% 20 58% 14 108 16 - STAR, WASHINGTON, D. C., TUESDAY, ‘ | Roebucl 5014 91 121% SEPTEMBER 16, 1930. STOCKS IRREGULAR IN SMALL MARKET :Short Sellers Depress Values, | but Good Recovery Is Made. BY CLAUDE A. JAGGER, Associated Press Financial Writer. NEW YORK, September 16.—The shorts again had the helm on the stock market today. Encouraged by the soft- ness of grains and by the absence of | important opposition, they piloted prices lower, uncovering new Weak spots and | | numerous air pockets. Rallying tendencles toward noon Tas??‘ eclines of 1 to 3 points in prominent d. ‘k‘ but th I)v‘n‘ thereupon shifted their attack to the farm implement and merchandising shares and the recoveries were more than lost. Trading tended to increase slightly on the decline, espe- )rt;\”\‘ during the earlier hours, but such com! sion house selling. as appeared was inconsequential, and the profession- als had the market virtually to them- selves. arly all groups shared in the gen- eral heaviness, aithough the selling shifted frequently as though the bears were seeking quick action before an oversold condition should develop. Four- | point losses in International Harvester | 2nd Auburu Auto were accompanied by | losses of a couple of points in Westing- | T Montgomery Ward, Sears Macy, Gillette, May Depart- ment Stores, North American and West- n, some of which had regained lier declines of the same extent. | Grigsby Grunow was especially weak, breaking to 634, a new low, before meet- ing support. Strong issues included Diamond Match and Lehigh Valley, up | 3; Safeway Stores, Jewel Tea, Norfolk | & Western and Ingersoll Rand, up 2, and | Kroger Grocery and Curtis Publishing, which gained a point. ‘Wall Street's second thoughts on the result of the German elections proved to be considerably more optimistic, for it was said that banking circles here foresaw no danger to the reparations agreement in view of the Moderates’ majority. The tables turned quickly when a sharp recovery in wheat in Chicago prompted a covering movement ‘thnl erased moderate declines in: prominent Prior to the rally stocks had been hammered lower by bear selling, which appeared to be based on the early easi- ness of grain, but the appearance of support in wheat and to a lesser extent in corn sent the shorts to-cover. Amer- American_Telephone, U. . Steel, General _Electric, Westinghouse FElectric, Radio and Sears-Roebuck, which had been down 1-to’ 3° points, | made full recovery. Kroger Grocery and Safeway Stores were especially buoyant, rallying 4 points net. American Water Works, with a 2-point advance, was also strong. The close was steady. Sales approxi- mated 1,800,000 shares. |can Can, | FLORIDA SEES CHANGE IN BUSINESS OUTLOOK A‘comment from one of the Florida | correspondents to thé National Asso- ciation of Credit Men is particularly op- timistic: . “After four years of deflation follow= ing the collapse of the real estate boont, and after hurricanes, storms, the Med- iterranean fruit fly plague and a series of bank failures, Florida now is most definitely ‘on the up-grade. With the modification of the fruit fiy regulations; and the largest citrus erop in years wi | practically all the grape.-frulé under | contract at good prices, ‘we: feel that most of ‘our troubles are behind us.” | Hankow, China, has adopted the pol- | icy of haying the local chamber of | commerce buy municipal bonds, secured by house rentals or other revenuss. - — Eastern Utilities Investing Corporation The Board of Directors has declared the following quarterly dividends: Participating Preference per sha payable November 1, holders of record September 30, 30. 86 Preferred Stock—$1.50 per share payable December 1, 1980, to holders of record October 81, 1980. $7 Preferred Stock—$1.75 per share payable December 1, 1930, to holders of record October 81, 1930. $5 Prior Preferred Stock—$1.25 per share payable January 2, 1931, to holders of record November 28, 1980. T. W. MOFFAT, New York. ‘Treasurer. Stock—$1.78 1980, to 61 Broadway, | Brokerage Service for Securities and Commodities [FENNER & BEANE WASHINGTON, D. C. | 1. D. MOTHERSHED W.E.LEWIS 1 MaNAGERS 1430 K Street, N. W, Phane National 7000 MEMBERS ‘ NEW YORK STOCK EXCHANGE and Commodity Exchanges Private Wires to New York, New Orleans, Chicago , | Principal Atlas Stores : INCREASES | 31% Sales Volume 1 | Atlas Stores Corporation | reports an increase of 31.7% | in sales for the first seven | of 1930 over fi’ile n months corresponding period 1929. WE RECOMMEND the Com- mon Stock of this corpora- tion, currently selling on the New York Stock Exchange to yield over 8%, as an out- standing investment oppor- tunity, with excellent possi- bilities for enhancement in value over the long pull. Waggaman, Brawner & Co., Inc., 1700 Eye Street N.W, Washington, D. C. irs send me full informa- without obligation, on Atlas Stores and Atlas Stor Corporation common stock. Name Address ..,, CANADA TO EXPEND HUGE SUMS ON POWER PLANTS Special Dispatch to The Star. OTTAWA, Canada, September 16.— Canada’s Industries and agricultural activities are to be given the benefits of a $300,000,000 expansion program in power projects within the next three years. More than $100,000,000 will be spent it is in a building period, sclosed EPRQGEFERTY M Apartment House FINANCIAL. | bulletin on the subject issued here by |the Department of Immigration and Colonization of the Canadian Pacific | Raflway. | "“Noné of ‘the other plans for im- | portant building projects will have a more important bearing upon the in- | dustrial development of Canada than the expansion program being sponsor by the power industry” says bulletin. “Water power sites are well distributed in Canada and there is ample supply avaflable within easy | | in each of the three years of the power |transmission distance of practically ail | the large citles. ANAGEMENT MANAGEMENT e —————— EXPERIENCED manage- ment can often turn un. productive property into a productive investment. It’s the application of our knowledge and facilities that has made our management of apartment houses particularly resultful for owners. B. F. SAUL CO. 925 15th St. N.W. M O R'T G & G Nat’l 2100 E L ‘@ A-N"'S FIRST TRUST | LOANS Reasonable Rates Courteous Treatment THOS. E. JARRELL CO. ed the| 721 10th St. N.W. REALTORS Nat’l 0765 Simmons-Boardman | Publishing Corporation $3 Cumulative Convertible Preference Stock Comvuertible into Common Stock share for share Corporation occupies prominent position in publishing field. Its periodicals are outstanding examples of specialized trade papers. Earnings for first half of 1930 more than 334 times Preference Stock dividend requirements. Traded in on New York Curb Exchange To yield over 7% % Further details upon request Spencer Trask & Co. 25 Broad Street, New York ALBANY BOSTON CHICAGO PROVIDENCE PHILADELPHIA NEWARK LONDON Members New York Stock Eschange Washington Correspondent James M. Johnston & Co. Shoreham Bldg., Washington, D. C. NET EARNINGS of CITIES SERVICE COMPANY HAVE increased 47% IN THESE TWELVE MONTHS July 31, 1929—$37,961,996 July 31, 1930— $55,889,191 Cities Ser- vice Radio Program — every Fri- day,8P. M., FEasternDay- Ii thqu ime, N.B. Coast-to- Coast and Canadian IOR the twelve months ending July 31, 1930 CITIES SERVICE COMPANY’S net earnings an increase of $17,927,195, or 47.22% over net earnings for the w During the same period net to SER- VICE Common stock and Reserves has grown from 855,889,191 year ago. $1.13 to $1.45 per share. 396,213 investors now own CITIES SERVICE Com- an inerease of 98% or 195,972 new Common stockholders in twelve months —August 15, 1929 to Aungust 15, 1930. At the current market price CITIES SERVICE Com- mon stock yields, annually, over 6%% in stock and mon stock. This represents cash—payable monthly, Mail the coupon below and we will send you, teresting booklet describ- CE and its investment securities. HENRY L. DOHERTY & COMPANY 60 Wall Street & New York City Branches in principal cities obligation on your anin ing CITIES SER HENRY L. DOHERTY & COMPANY, 634 Seuthern Bldg., Washington, D, C. of without FULL and ODD LOT orders executed in all Margin Accounts Solicited markets Nine Separate Specialized Departments to Serve You BOND STOCK MUNICIPAL STATISTICAL - UNDERWRITING BANKING SYNDICATE MORTGAGE BOND UNLISTED TRADING OUR MANY years of experience in the investment banking business, together with our complete modern facilities, including an extensive private wire system connecting all our offices, is at your instant disposal. Write for our booklet, “ODD LOT TRADING METHODS” SteINn Bros, & Bovyce 6 S. Calvert Street Baltimore, Md. Clarksbur Established 1853 Woodward Building ‘Washington, D. C. W. Va, Hagerstown, Md. 120 Broadway New York, N. Y. Charlottesville, Va. " \