Evening Star Newspaper, September 29, 1930, Page 15

FINANCIAL. " TO LOWER LEVELS [“Opening Sales Reveal Con- tinuation of Drift in Last Week. BY JOHN A. CRONE. @pecial Dispatch to The St NEW YORK, September 29.—Per- sistent pressure on petroleum and public b utility shares sent prices lower on the » eurb exchange today. Although these stocks showed the widest declines, new lows for the year were scattered throughout the list. ‘The market leader, Electric Bond & slpported around the but American Superpower, © Middle West Utilities, New England 'aTelephone & Telegraph, Niagara Hud- son Power common and its warrants and Central Public Service A were permitted seek their own levels and they mptly hit new lows for the year. 3 Service held near its previous ' final quotation. mwsh!ndll'd Oils were hammered first, bears realizing that selling of these hmtmenté‘ssues ‘would bring out offer- “ings from investors. Vacuum Ofl, 'fich has just agreed 40 take over Wadhams Oil Corporation “of Milwaukee on the basis of § Vacuum shares for 10 Wadhams shares was , among the first to scrape a new bottom Jevel. Standard Oil of Kentucky and Standard of Ohio quickly dropped to ‘new minimum prices. provided the weakest t in week. Houston new, certificates for which soon ready, was the next to slide and 4t was joined by Gulf Ofl of Pennsyl- Other lows reached by oil or - shares . included Cheseborough ;l;n\lncmfln. and Lion Ofl & Re- ing. American Cyanamid B was pounded to & new low on the theory that re- «duced silver mining would not aid its eterias, Fageol Motors, Hiram Walk- some other industrials likewise new lows, -mured‘ S tng Sag botins this yore: on pe before ear, X at 453, which compares wi Afinal quotation of 1929 of 64, . Some signs of a rally set in at mid- - day after call money renewed at the Curb t at 2 per cent, the lowest level for renewals on record for this exchange, but the rally failed to make much progress. ¥ BANK CLEARINGS. 9 ber 20 (Spe- YORK, Septem! '& £500.000,000: % 3 802,000 A . & Year ago, York bank toda; Federal 900, i $100,000,000; %‘ ,000,000; U. 8. TREASURY BALANCE. ‘The United States Treasury e balance announced today as of # of busi ness September 26 was $337,746,950.71. - lga' the month to date ‘penditures, $9,065,947.48. credit balances, 'yux ago, $121,- sttt o 101% 101% 1 V.ll%lfi% L o 3 el SesSeSngens 4 F & =§n§snss i 55258 s 2 zszzaassd PEEERE R TR W 2S5 s 5 ) 393%.¢ 55l po0zzEzs 2 28555 5 EEEEEELERH A 97! 2 1013, 1013, 8100 100 1 = H133 55! A EASS % E 22 = = o g3 oo oF Kt ] R g5 3 sbane City B e 54 = ] = 22233288238 i 223383 FEee & Ve 3383 LKL FEEE SRR sesagsaagEeagey WA :'g FES TRANSACTIONS ON THE NEW YOR Note—All stocks are sold in e those designated by the letter s (80s) one THE EVENT hundred-share lots ) (2508 ) which shows those stocks to be sold in odd lots only. 20% E P 201% Aluminum Coof Am. % 109% 16% Th 89% 55 19 T% % 50% Stock and Dividend Rate. 5% Aero Supply (B). 16% Affliated Prod In 3% Alr Investors vte. 1 Alexander Indui % Allled Aviatio: 8 Allied Mills (60c 17 Alum Goods (1.20) 97 Alum Ltd cum pt 36% Am Arch Co (3) 31 Amer Austin Car. 26 Am Bakeries (A) 3 Am Beverag 6 Am Capital (B 60% Am Capital pr pf b 12% Am T P&L B (10%) 60 Am Cigar Co... 17% Am Com P A (b 34% Am Com P B (10%) 14 Am Cyanamid (B). 3 Am Dept Sto 12 Am’'Equities 35% Am For Po 23 104 Am Gas & El (31) 10 104 Am Gas & El pf (8 1 7% Am Invest Inc (B. 5 2% Am Invest (war). 6 52% Am Lt & Trac (234). 29% Am Maize Prod (2).. 1% Am Maricabo. . T% Am Natural Gas.... 17% AmStPS A (1.60).. 19% Am Superpow (1)... 260 87% Am Superp pf (6)... 1 94% Am Superpwr 15t(6) 7% Am U &G B vtc 40c.. 31 6 Anchor PF (b10%).. 3 15% Anglo Chil Nitrate.. 3 1214 Apex Electric Mfg... 2 8% Appalachian Gas.... 18 8% Arkansas Nat Gas. 26 8% Ark NatGas (A).... 34 1 Asso Dyeing & Ptg.. 5% Asso Elec Ind (30c). 28% Ass§ Gas & Elec. ... 30% Asso G&FE A (at2.40) 3 AssoGRE (A)dbrts 8 97 Asso G & El ctfs (8). 758 89 AssoG&EDf(5)... 38% Asso Rayon pf (6).. 15 Atlas Plywood (2) 28 Atlas Utilities war. . 91 Auto Vot M cv pf pt 24% Aviation Cor of Am.. T4 Aviatiop Securitie 2% Bahia Corp. 1% Bahia Corp 45 Bancom Corp (1. 1 N 8 N A AN 1 4 7 1 157% 146 Bell Tel of Can (! Bl 21, Bridgept Mach (25¢) 23% BritAmTo B 98 1-10¢ 1% Br C 24% Buft N&EP pi 2% Bwana M Kubwa % Carib Syndicate. 18 Carman& CoA (2).. 12 Carman&Co B(all) 261 Carnation Co (J1%).. 30 Carrfer Engnv A (1) 12 Cellulold Corp. ...... 3 Cent Atla 20% Cent & SW Utb6%.. 19 Cent St El (k40c). ... Cent St El cy pf (a6), Centrifug Pipe (60c) S| Stock. . 2% CI e 17% Chat Ph Al nv (50¢) » 184% 140% Cheesbor Mg (15%) 4% 6% 19% 1% 8% 19 186% 90% Cons Gas Balt (3.60). 30% 65% 51% % 2 21% 8% 162% 8% 1 9% 24% 117% 109% 103% El Bond & Sh pf (6. a8 37 39% 82% 6 El 5% 68% 19% b 22% 24% 3% 5% B4 38 12% 14+ 29% 9T 3% kel 46% 3% 26% 260 122 14% 1667 24% Citles Serv (g30c)... 389 88 Cities Servpf (6).... 2 11 _ Clev Tractor (1.60).. 2 #& Colombia Syndicate. Columbia Pic (£1%). 24 Col Plet vte (f1%) 11% Com Wat 8v (b6%).: % Consol Auto Merch.. 2% Consol Copper...... 10 Consol Dalry Pr (2).: 21% Cons Gas Util A 2.20. '68% Cont Shares pf B (6). 50 28 Cooper Bessemer (2) E-3-3 10 9% CrCorkIntA (1)...: 30 - Crown Cork pf(2.70). 30% Cumberland P L }18. 32 Cuneo Press (2%)... 1 Curtiss Wright war. _ % Cust Mex Mining. ... 8% Darby Petrolm n (1) 2% Dayton Air & En; 65% Deere & Co (m1.: 2% De Forest Radio. 4% Derby Ol Refini 2% Detroit Alrcraft. 16% Diamond Match Naammacn - o 1 Eisler Electric Corp. 68% EI Bond & Sh (b6 11 92% FEl Bond & 8h cu pf 5. 16% Elec Pow Asso A (1) 19 Elec Pow Asso (1)... 16% Elec Sharehold (11)., 82 El Sharehold pf (a$). 4% Empire Corporation. 38% Emp Pwr pt (14.60)., 15% Emp P Ser A (a1.80) 12 Europ E Ltd A (60c), 3% Europ Elec deb rts. . 1% Evans Wallow Lead. 2 Fabrics Finishing.., 1% Fageol Motor. 43 Fajardo Sugar . 156 Fanny Farmer C (1). 5% Federal Baking Shop 19 Federal C&W (11.60) 13% Federat Metals t1%. % Fiat Stock deb rts. .. % Film Inspect Mach. . 12% Fokker Alrcraft....» 24% Ford MotCan A 1% 6% Ford Mot France 28c. 10% Ford Mot Ltd 37%e.. 214 Foundation For Shs.. 21 Fox Theater Cl (A).. 6 Franklin Mfg Co.... 2% Galena Ofl Corp.. o RO BT Bt e TS RS s 10% Gen E Ltd ret (50¢).. 422 17% Gen Empire Cor (1), © ¢ 72 Gen G&E cv pf B (8) 2508 29% Gen Petroleum wi.... 19 8 Goldberg Stores (1) 1% Gold Seal Elec new. 2 Golden Center. . % Goldfield Consol 16% Goldman Sach T % Goth Knitback Mch 18 Gramaph rets (20c) 180 GrA&PTn-v (). 116% Gr A& P T pt (7) 9 Groe Stores Prod 106% Guif Oll of Pa (1%). Hall Lamp (60¢).... 8% Hecla Mining (1) 3 Helena Rubenstels 5 Holinger Gold (60c ] 17% Hou-Herev pf A 2%. 50s Houston Oil of Tex. 18% Imp Ofl of Can (50c) 183 18% Imp Oil.Can reg(50c) 26% Ind 1u Ol (A).. 26% Ind Ter 11lu Ofl (B).. 14 Ind Finctfs (b10%). 651 Tnsull Ut (1b20% %). 60% InsCo N Am (12).... 10 Insurance Sec (1.40) 10 Intercoast Trade (1) 3 Intercontinent Pet n 6 « Int Utll war (new).o les— ’A‘Cd 00. Open. High. Low. Close. 3 6% 6n 6 ® 6 115% 115% 1 214 17 16% 3% 3w s e, SHRL 3 B4 8% B L3 16% % 1 % R4 202 204% 195% 196% 181 18% 100 3% 415 1815 100 18% 98 37T% 4% 29 44 6% 70 37 38% 114% 115% 111% 112% 109 % 3% 109 % 3% 109 ™ 34 5614 922 92 92 6 100% 100% 10(7) 100% ™ % 7 1 7 22% 22% 224 13 13 13 9 9 8% 8% 8% 8% 8% 8% Th 29% 8 129% 1 264 % 34% 265 26: 3 12 2% E) 9 114% 1 21%4 6814 31 4% 3 3 26 26 2% 26 6% 6% 6 20 22% 15 109 % 3% 56% % 7 22% 13 8% 8% 18 207% 26% 1% 1% % 8% 354 34% % 12 & 2% E 15% 26 18 26% 26% 264 25% 6% - 782 69% T0% 654 5% 2 108% 1084 108% 1 97% 9Tx 9734 08 9% 20 22% 15 9% 5 38% Intl Ul pt pf (7 Interstate Equit! Interst Hose Mil Irving Air Chute ( Irving A Chute wa Italian Superp (A) Johnson Motor. Kirkland - Knott Corpn (a1.60). Kobacker Stores (2). Lackawanna Sec (4). Lakey Foundry..... Lefcourt Real pt (3). Leonard Ofl........ Lion OIl Ref (2),. % Loew's Inc war).... Lone Star Gasn (1). Long Isld Lt (55¢).. Long Isl Lt pf (7)... Louisiana Lan & Ex. MacMarr Stores (1), Marconi 1 Mar (38¢c), Marlon Steam Shov.. Mass Util Asso. .. Mavis Bottling. Mayflow Asso ($2).. Memphis Nat Gas. ., MerCh & SpfA 6. Met & Min Inc (1.20) Mid St Pet vtc A.... 4 Mid St Pr2d pf. Mid W St Ut (1%) Mid West Ut (b8%). Mid West Ut A war.. Mid W Ut cv pf xw 6 Midvale Co (4). Miller & Sons (2) . # Mining Corp of Can. . Mo Kan PL (b10%). Mo Kan PL vto..... Moh H P 2d pf (7)... 4 Miss Riv Fuel bd rts. Mount Prod (1.60)... Nachman Spring.... Nat Amesican Co. “Nat Aviation. . Nat Baking pf (1) Nat B & Sh cp 60c. ., Nat Fam Stb2% %.. Nat Fuel Gas (1). Nat Investor: Nat Pow & Lt pf (6), Nat PScvpf ww 334, Nat Pub Sv A (1.60). Nat Screen Sv (2). Natl S T Sec A £50g. . Nat Sugar N J (2) Nat Union Radio. Nauheim Phar Nehi Corp (1.30) Nevada Cal Elec. . Nevada Cal EI'pf (7). 2% New Brad Ofl (50¢).. New Eng Pow pf (§). Newmont Min (f4).. Newport Co (2)..... NY&HRos (11%). N Y Pet Royalty.... Niay Nia, Niay Nia, Niles-Bem-Pnd t2%. Noma EI Corp (80c) % Noranda Mines (2).. Nordon Mines, Ltd. . No Am Cement....., Nor & 8o Am Corp A Nor Europ Oll Corp. Nor St Pow A (8). Nor St Pow pf (7 Ohio Copper........ Pac GAE 1st pf (1%) Pac Light pf (6).. Pac Pub Sv (1.30) Pac Western Oil. . Pandem Of1. Paramount Cab Mfg. Pennroad Corp (20¢) Penn Wat & Pow (3). ne. ... Philip Morris (A). .. Pitney B P n (20¢c). .. Plymouth Ofl (2)...s Polymet Mfg (b4%). P Securities pf.. Premier Gold (24¢).. Prince & Whit (25¢). Prince & Whit pf (3) Prod Royalty (f1)... Prudence Co pf (7)., Prudential Inves Pub Ut Hold (50¢). . Public Util Hold war Puget Sd P&L pf(5). Pure Ofl pf (6).. . .Pyrene Mfg (80c) R R 8h Corp (25¢)... Rainbow Lum Pr A.. Rainbow Lum Pr B.. Reeves (Dan'l) (1%) Relter-Foster..... Reliable St (b5%) Rellance Int (A) Reliance Mana; Reynolds Invest Richman Bros (3) Rock Lt & P (90¢)... Roosevelt Field Ine.. Rossia Int Corp..... Royal Corp pf(11.80) Ryan Consolidated. . Safety Car H&EL (8).125s 1 St Regis Paper (1) Sally Frocks Inc. . Salt Creek Prod (2 Seaboard Utl (50c) Sec Corp Gen (40c) . Seg Lock & H (50c).. ffer Pen (13). doah Cor} Silica Gel ctfs. Sing Mfg Ltd Sisto Finance Corj Smith (A 0) (2) % Solar Refining. So Am Gold & Sou Penn Ofl (123% SoCalEApt A (1%) SoCal Ed pf C (1%) Southern Corp. SouthldRoyalt: 2% SW Dairy Product S W Gas Utilitle Spanish & Gen re Standard Motors. Stand Oil Ind (2 Stand Of1 Ky, (t Stand OIl, Neb(13%) Stand Of1 Ohlo (2% ). Stand O Ohfo pt (7).. Starrett Corp. Starrett Corp pf (3). Stetson (J B) (6%).. Stromberg-C (t1%) Stutz Motor Car. Swift & Conew (2 Swift Internat (23%4) Tampa Electric ($2). Technicolor I Teck Hughes (60c). Triplex Safety Gla Tubize Chatel (B). .. Twin 8t NG A pt (1), i Ungerlelder F Co Un N G of Can 11.60., 4 Unfon Tobacco. ..... Utd Car Fast (60¢c). . Unit Carbon pt pf(8) Utd Chem pt (3)..... U[td Corp (War). ...« Utd Dry Doc Utd Elec Ser: caee "Utd Found b2-35 sh. Utd Gas pf (7). Utd Lt & Pow A ( Utd Lt & Pow pf ( Utd Milk Product; U 8 Dairy (A) (5).. U 8 Dairy (B).. U 8 Elec Pow ww. U 8 Foll (B) (1) Utd Verde Ext (2). Util Pow & Lt (a1). Utility & Ind...cvvee Utility Bquities, 70% Vacuum Oi1 (4) 3T 111 14% 19 % 258 103% 3 15 g 45 o PN T = EREPISTLTT- P » - P $ie RN ANA NS AANAARE SRR AONI N > 5% ® = Sam - BamaarmpR o~ = Sen L2 4 8 3 11% 19% % 27% 46% 66 10s 118% 1 16 102% bed 20% 104 26% 14% 9% 6y 5 "% 3% % 1z [ 28% 25 . High, Low. Olose. | Hig) 98 6% ~Prev. 1930.—~ Low. Stock and Dividend Rate. Venezuela Petrol.... 10 Vie Finan Cor (40¢). 26 % w ‘Watson (J W) Co. Wayne Pump. West Air Exp ( West Auto S A (3) 23 5 6 1 L 4 1 Bales— Add 00. Open. High. Low. Close. 1% 1 1% NG STAR, WASHINGTON, D. C, MONDAY, .SEPTEMBER. 29, 1930. K CURB MARK ~Prev, 1030.— High. Low. 1% % 9% 35 21% t. *Ex dividend. 1| cash or stock. b 8% in stock. 2% in stock. 8% in stock. Stotk and Dividend Rate. 12% Williams R°C (1.40) 1 % | 15y 4% Wil-Low Cafeteri 214 Winter (Ben)). 3 Wilson Jones (3 8% Zonite Products (1). Dividend rates in dollars based on last quarterly or semi-annusl men! EEh Plus ET Sales— Add 00. Open. High. Low. Close. 7 1% 12% 11 1@ 18 % 4 4 24 2% 24 85 35 35 9% 9% 9% 9% ly extra IPlus 4% in stock. a Pazable in le in stock e Adjustment dividend. f Plus §5, In stock, ‘b Plus 1% 'in stock. " I Blus 10% in stock. m Plua 3% in stock.n Plus GRAIN MARKET CHICAGO, September 29 (#).—De- spite spirited transient rallies, wheat and corn prices ranged decidedly lower most of the time today, especially in the late dealings. This was after the Liverpool wheat market had shown in- creasing . acute de jon and after wheat at Winnipeg bad sold at the low- est level ever known there, 68 cents a bushel. Contributing to the late down- ward impetus of Chicago wheat values was word that the United States wheat visible supply showed a notable fresh enlargement of 3,112,000 bushels, mak- ing a new record-breaking total of 205, 732,000 bushels with no immediate ex- port outlet in sight. Rallying again in the last minutes of trading wheat closed nervous, at the same as.Baturday’s finish to 112 down. Corn closed 4al% off, oats unchanged to 3% up and provisions varying from 20 decline to a rise of 25. WHEAT. h. September December s | March int Becur Gorp Am 3 r §nn 14 | Int Becur Gorp Am 9% | ol CORN. September CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, September 20.—The 1 is & summary r‘:‘d 'll’l:,por'-:‘l:t corporat] news prej y __the Standard Statistics C?zr p.c., New York, for the Associated Press: ‘Weekly News Review. Thé™trend of commodity and stock prices continued downward during the eut'week. Except for a moderate ad- ance in quotations on Tuesday prices on the Stock Exchange declined -unin- terruptedly during the six trading ses- sions. Numerous issues sold at new low levels for the year. On Saturday the Stahdard Statistics’ weighted index of prices of 90 leading stocks broke through. its 1930 low point of 154.0. on closing prices of that day the average stood at 153.2, or 13 points above the low level of 1929, established on November 13. Sales’ volume aver- aged about 3,000,000 shares daily, the heaviest in several months. The action 40% | Of the stock market in recent weeks (it NEW YORK, September 29.—Over the counter market: Am Am &lottnh cg‘r“ 8 imer Br % Co ite Tr !grl cilla, Cor Basic Industr; British Ty} Chain & “Trust II'Y ek nk iy i D ted Cai ted Cap Pon Biversi Diver: Fede Shares ghares ares C. G Inves| Guardian in ude Windmil Incorporated it d Investors B g 85823550885 & F = 6 Investment Co of Am Investment Go of Am Investment Trust Investment Trus t_Trust vestment_ Trus l‘ e Jaegaony CUHE DIVIDENDS DECLARED NEW YORK, September 29 (#)— g Bep. 37 Sep. BAENenR! HFEE t 3 Ed uaonnnnmnuuuooouoounnuounbnnwoo&nu? 283 ! Kockamsy % wtd sk....4 Fed: eral ol Pirst Pinance SRR RN 8 e e B8l 8 o 1 N'¥) Mutual In Serv A...Tbc Muytual Loan Bank (Nashville, Tenn) .37%¢ N J Zin S0¢ b b b e BB B bl WBe S e e Ltd, pf.. ‘West ‘Ins Piiven 'k 8 Sun Life Assu; OoR o i soves Inter Invest A.....31.80 Invest Rovalty new..isc Reduced. Stroock (8) & Co....25c Q Oct. 1 terim. Dunlop Rubber, Ltd.. Omitted. Rhode dIce B..31.78 Wovawara froa .3t 8 SHORT-TERM SECURITIES. (Reported by J. & W. Selismhn & Co.) S ndarg tand 2EEnERss: & SRS ¥ has declined almost steadily since Sep- t.mber 10) reflects largely, it is be- lieved, disappointment at the extent of the Fall trade recovery. On the com- modl:{ markets weakness also con- tinued unabated and new low prices were reached for wheat, cotton, copper, mbber,m , cocoa and several other Brokers’ Loans. Brokers’ loans, /as reported by the Federal Reserve Board, were unchanged for the week ended o%eophmber 24, total remaining at $3,222,000,000. Declines of $27,000, in loans for “others” and $44,000,000 in account of out-of-town banks were offset by increased lendings by New York member banks. In the period covered by. the report our stock price index lost 6.2 ints. Money rates were reduced further-during the week. The official call rate was cut to 2 per cent, but outside the exchange funds were available at 1 per cent. Time money for 60 to 180 days was re- duced to the lowest in several years, ranging between 2 and 2% r cent. Daily average volume of Federal Re- serve Bank credit outstanding in the week ended the 24th was '$999,000,000, declining $9,000,000 from preceding week and $403,000,0000 less than in 1929 period. The reserve ratio of the Federal Reserve System advanced to 82 per cent from 81.6 per cent in the pre- ceding week and 73.8 per cent a year Seasonal Gains. Reports of industrial activity pub- 1 lished ‘last week indicated there has been some further seasonal gains in 1 | operations. Production in the steel in- dustry was increased about 3 per cent to 61 per cent of theoretical capacity. This is the largest weekly gain in sev- *|eral months. Automobile manufactur- :| ers have increased requirements moder- ately, radio demand is good, and agri- cultural implément makers are begin- ning to enter the market. Contrary to the demand of recent months, which hes been almost entirely for Immediate tion, present orders are being laced to some extent for future de- ivery in an attempt both to cover fourth-quarter requirements at prevail- ing prices and, in some cases, to antici- pate ell'l&’ 1931 needs. ‘While the lt} companies are reluctant to quote for delivery beyond January 1, because of the unprofitable level of cur- rent prices, the trend, if continued, would do much to improve the backlog of orders on books, although it can be of little aid to increasing the profits of ".l: mcmpmlu during the remaipder of Freight Car Loadings. Rallroad it car for the week endflmfll%mmbfimnlmmm s was 10.2 m,-m‘-n. o .. cent over week, which 'E:lllded Labor day, butn‘lc.i per cent below the 1929 period and below any 1921, Geo- o, Fr, S, grapl ly, the central Western re, le the best showing, as it hu"fl: several previous weeks, while results for Money to Loan S reraitng. Ietsraet” rg s matia] mtate. Joseph I. Weller ¢z wesh & & ¥rant Telephone National 5000 For immediate delivery of The | Star to your home every evening and Sunday morning. The Route Agent will collect at the end of each month, at the rate of 13 cents per day and 5 cents Sunday. get acquainted. alleghany region were the poorest. The August_earnings statement of the rail- | roads, on the whole, have thus far made & better showing than in the months immediately preceding. Aggregate net operating income of the first 50 roads reporting declined 30.7 per cent com- mred with a year ago. Of the more portant, carriers which have reported Western Pacific and Pittsburgh & West Virginia showed a larger net in August than a year ago. Electricity production in the United States for the week ended September 20 totaled 1,705,504,000 kilo~ watt hours. ‘This was increase of 0.3 per cent over .previous week, but 3.7 per cent below the 1929 period. Com- pared with 1928 week, however, total was 5.7 per cent larger, Chicago, Burlington & Quincy' Rail- road August net operating income off 15 per -cent; 8 months 19.5 per cent below year ago. Canadian bronze plants currently operating at 70 per cent capacity. Chicago, Rock Island & Pacific Rail- road August surplus after charges off 39 per cent; 8 months 38 per cent below year ago. Cincinnati, New Orleans & ‘Texas Pacific Railroad August net operating income off 32.4 per cent; 8 months 3.5 per_cent below year ago. Denver & Rio Grande Western Rail- road August surplus after charges $97,- 258, against surplus $252,912; 8-month deficit after chdrges $463,784, against | surplus $979,762. | Fisher Brothers to erect $10,000,000 office building in. Detroit. Ford Motor, Ltd., management denies | recent report that Russian government has canceled greater part of $10,000,- 000 tractor order. | M. A. Hanna Co. acquires United States Copper of Cleveland. NEW SECURITIES NEW YORK, September 20 (#).—New securities offered today include: Midi Rallroad Co. of France 140,000,- 000 French francs of 4 per cent bon due December 1, 1960, by A. Iselin & City of Winnipeg $3,600,000 41, per cent sinking fund, non-callable bonds, maturing from 1937 to 1960, priced to yield from 4.50 to 5.45 per cent, by Do- minion Securities Co., Bank of Montreal, and A. E. Ames & Co. City of Bergen, Norway, $1,900,000 5 per cent 19-year external sinking fund bonds, priced to (geld 5.25 per cent, by :rown Bros. & Co., and Halsey, Stuart Co, Town of Montclair, N. J., $1,441,000 4 and 4! per cent bonds, due serially October 15, 1931, to October 15, 1941 to 1968, priced to yleld 2.75 to 4 per cent, by a syndicate headed by the First National Bank. City of Camden, N. J., $1,440,000 4% per cent bonds, due July 1, 1942 to 1969, priced to yield 4 per cent, by a z'ngzuu headed by Harrls, Forbes NEW YORK COTTON NEW YORK, September 29 (Special). —Cotton lxchu:ge prices were 4 to 8 points lower at the opening today, the list dropp!n: into new low ground. With the heavy declines of last week as suf- ficient background for much forced liquidation, there were sizable offerings in all contracts. Trade buyers bought on the scale down, but their purchases were small and widely spread. o;»enln; prices were: October, old, 1017, off 17; Decem! 8; October, new, 10.14, off i , old, 10.40, off 7; Decem- ber, new, 10.35, off 6; January, old, 10.45, off Ji 3 0.44, Off 5. " First Mortgage Loans Lowest Rates of unterest and Commission Thomas J. Fisher & Company, Inc. 1417 K St. Year Loans On Improved Real Estate IN Nearby Montgomery County and the District of Columbia — Lowest Interest Rates BOSSEHELPS Founded 1907 oan Correspondent 2 John' Hancock Mutual Life Irsurance Co. National 9300 COULD YOUR INVESTMENT BE SAFER THAN THESE? Real Estate First M are secured on income-producing Washington real estate and are further backed by our resources of $3,800,000. WE MAKE FIRST MORTGAGE LOANS! Come in and see us if you need money! Capital Resources, $3.800,000 24 JACKSON PLACE For Investment NOW Associated Gas and Electric Company Gold Debenture Bonds Due 1968 Yielding over 5%:%, Growth of properties in the Asociated System Annual Earnings opersting subsidiaries produce over 81 % of the Sywem's grom. ool Price at the market Ask for circular 1-257 General Utility Securities Incorporated 61 Broadway New York Mackubin, Goodrich & Co. Established 1800 BANKERS Menbers New Yevkand Baltimore Stick Exchanges EAssociate Member "New York Curb Exchange vsoal STREET WASHINGTON, D. €. Over a Century of Continuous Business ~—nhas tested the policies of this bank—developed its facilities to a point of notable efficiency—equip- ped The Metropolitan to offer customeérs, large | ®and small, the ultimate in service and security, f Such a bank will prove the most satisfactory de« pository for your Payday and other funds. Let’s One dollar or more is all that’s needed to become a SAVINGS DEPT. patron National Metropolitan Bank Capital, Surplus & Undivided Profits Over $2,300,000.00 15th Street, Opposite U. S. Treasury OLDEST National Bank in District of Columbia REDWOOD & SOUTH STS. BALTIMORE. MD.