Evening Star Newspaper, October 9, 1930, Page 13

D. C, THURSDAY, OCTOBER 9, 1930. FINANCIAL. WAVE OF SELLING |- tisgiesten HAMMERS STOCK Prince & Whitely Suspension THE EVENING STAR, WASHINGTO CAPITAL:STORES' - [ NEW YORK STOCK EXCHANGE SALES HOLDING T L.t which shows those stocks to be sold in odd lots only. Indivilual sales compiled to 12:00—complete in 5:30 Edition. —Prev 1930~ -Stockand Sales— Prev. fiigh. Low Dividend Rate. Add 00. High. Low. Close, Close. 13 Abitibi Pow & Paper. 7 13 11 11 21% Adams Exp (1.60)... 50 22% 21w i 508 923 +'of Yedr Is Dhly1.5 Per Bo Adams Bxo ot (8) 23 Adams Millls (2). 23% 28% 6% Advance Rumley..., : 6% seu 1 % cent, Reserve Repons. 29% Addressogr'ph (1%). 4 15% Advance.Rumley pf. 18% 18% e s 9 156% 103 Air Reduction(4i). 43 105 98% BY EDWARD €, STONE. 86 10% Air Way El Ap UK) u b 9% 4% Alaska Juneau. f the pres- enn vons. Goparimens. store. sales. in| 354 17~ Alleeheny Corp... . m Washirgton were off only 15.per cent, | J50% 8T Alles Cp $40 ww BM. cempared, with the corresponding period | “eg 4ol Am: Chnm"’; Fe in, 1929, according to_a report made o e 421 22 Alpha Port Cmt (2).. today by the Federal Reserve Bank of 3335 148 < Kime a0 Corp-(8) s Richmond. Departmient store sales in Washington | S mniAmeuIChaY 19 September alone were 3.9 per cent §% . s BEaKNots (+8) behind the same month last year, ac- 14 224 Am Bosch Magneto. garding to the same report. Only il e oy N. C, and Ashevill N. C.| 138 118 AT b Sh bt (1) 1008 139% “& better ‘showing in the ffth -k 21% = 8% Am Brown Bov Elec. 2 13% "Fhe: average: in sales in the fifth dis- | 8¢ 60 Am Brown BEpt (7) t0s 6B trict as @ whole was 9.4 per cent lower [ 1664 1654 Am Can (18} % than in Sebtembar, 1929, while the first | g o Krgu i QUG UL nime months recorded a decrease of 34| o A Car 8 POy ' . percent, compared with last year. This | 1a0. 85 4T A5 Y means: that the National Capital was | 75% Am Chain pf (1) far ehend of the average for the district | il both I the month of September and “9%. Am Com Alcohol for the nine-month period under review. 323 Am European Secur. Baltimore made th best showing of 4415 Am & For Power. 287 any city in the district for the' nine| 101" g5 Am & For Pw pf (8).7708 months, sales being off only 4 Der Cent. | 1111, 1091 Am & For Pw bt (1) bat iy S’P’gmg;" the Monument City | 100 8§ = Am & For Pow 26 pf. a decling of per cen 33 b The T4 stores in the entirs district which | 2% S+ Am Howslian (10) sent, it September figures, only 10 Te- | qdi 31 QT 108 KoueRIINT. - ported higher sales than for S:ptember, | 1% 301 Am Ice (14) e rae s 1929 while 64 stores failed to come UD | p5s 283 Am Internat (3) level of the previous year's busi-| 35" 15 AmLaFr & Foam pf.100 n Considering present business con- 34% Am Locomotive 7 ditions, the showmng made by Washing- ton' will be highly grafifying to both merchants and bankers. 48% Am News (114)....0 Comparisons by Reserve Districts. 67% Am Pow & Lt 31) Ih addition to the report from the . Bank of Richmond, the report on de- gg :: ’;‘L‘" l;.p';lAv:('(.S)). partment store sales in the 12 Federal 30% 20 AmR&StEan (134) Reserve districts was_also_announced today, this coming from the Federal| 148 1264 Am Rad& 88t (7). 503 148 Reserve Board. The report shows that 12% sales in the local fifth district were 2 per: cent smaller in September than the First Mortgage Loans REAL ESTATE LOANS - On lmpraved Real Kstate §a the Distrier of Columbla Made it Low Interest Rates and searly Marglend end Virginia for 3, 8 or 10 year ferms on your . Is Signal for Sharp Liqui- llVa Comwith & So (60¢c). Home 5]/ 7 ST dation Move. G 270 Conde Nast Pub 3 7 5 RANDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESFPONDENT New York Life Insurance Company 1321 Connecticut Ave. Decatur 3600 .1030— ! Sock and Bales— Prev. “Low. Divigend Rate. Add 0. High Low, Close; Close. 21 Comm Credit (2)..,. 10 24 24 25 31% Comm Credit A (3) 3 76% Comm Cred 1st (6%) 1001 .77% Comm C 1st xw (634) 5 2n|s Com In Tr (1.60)... 11 Comm Inv Tr war. 1 Com In T ov pt (e6).. Comm Solvents (31). Deciine in First First Nine Months Office Building Business Property 23,/ By the Assoclated Pregs. NEW YORK, October 9.—A large and persistent stream of liquidation swept 14 | through the stock market today, swelled by announcement of the suspension from the Stock Exchange of Prince & 15| Whitely, one of the oldest and one of the larger Wall Street brokerage firms. Action of important stocks has indi- cated that something was hanging over the market before the announcement >f the susperision was made shortly noon. Resistance levels in uvenl im- portant shares, including U. S. Steel, were swept aside, and new low lzvel.u for the past two years recorded. The selling, however, was orderly, and the market maintained an even keel. Other partners were G. Lisle Forman, hOtto Antonsen, Felix T. Hughes, James H. Stark, Laurence Sanford Critchell, Oscar B. Van Sant, Morrison B. and Gerald W. Hoyt. Forman and Orr were members of the Stock Exchange. Stock of Prince & Whitely Trading Corporation, traded on the Curb Ex- change today at $7.62 and immediately after the announcement dropped to 50 cents. 1'he preferred stock dropped from a h of 331 to $15.12. Mark spbnsors of United States Steel were forced to move back their lines of defense, which had been maintained at $150 a share since last November, when an order to buy 150,000 shares -{‘;hn level was reported to have been d. The stock dropped below that level during the forenoon, after a bid for 15,000 shares had caused a momentary upturn to $151.25. On the way down, 25,500 shares were bought at $150, and Richard Whitney, known in Wall Street as a Morgan broker, was a large buyer. Thereafter, however, It slipped to $147.50, off $3.50, and the lowest price in two years. Soon after the Prinpe & Whitely sus- nsion was announced the markét ral- PRICES REDUCED' | THE TREW MOTOR CO. 11% Container A 18509-11 14th St. N. W, | 3% Container B, 2% Contl Motors, 13% Contl O1l of 14% Contl Shar 78% Corn Pr R Coty Ine. Cr ot Wh % Crowa Cork (£2.40 7% Crown Zellerb'ch (1) Crucible Steel (k5).. Crucible Steel pt (7) Cuba Cane Prod. $6,3 5 0 invested in 100 Shares of CITIES SERVICE COMMON STOCK on January 1, 1911 has grown to 230,000 - (as of September 2, 1930) H.gon CITIES SER- Curtis Publish (17).. Curtis Publish pt (7) Curtiss Wright Corp. Curtiss Wr Corp A Cutler-Ham (3%). - » S 35% Am Ma & Fy (11.65). 314 AmMach & Metals. 204 Am Metal Co (1%).. - wSha no D‘nvll’ & RG W pt. Devoe & Ray (1.20).. Dome Mines (1). Dom Stort 11.2 Drug Corporat (4)... Dunhill Int (1) Duplan Silk (1) Du Pont de N (' 0 Du P de N deb pf (6). Duques Lt 1st pf (6)» 2 67 664 67 1 106% 105% 105% 2 88% 884 88W 46 21% 20% 21% l:: 146 9 SrurBarpo a 67% 5244 Am Safety Razor (§) 2 l 60% 26% 7% Am Seating... . ™% average for the whole country, 583 stores in leading citles in the 12 Federal Reserve districts reporting a decline of only 7 per._cent, against the Richmond area’s decline of 9 - cent in retail “The fifth district, however, has made ® far better showing than the national average in_department store sales in 3% 54 9% 103% 141 43% 22% 52% 551 1% Am Ship & Com. 1% 40 Am shlphufldlnl @® 108 41 51 Am Sm & Ref (4 52 100% Am Sm & Ref pf (8). 1831 Am Sm & Ref pf (7). 135% 135% 38 Am Snuff (13%)..0e. 39% 39% 4% Am Soly & Chem 4 3% 3% 32% Am Steel Fdy (3). 32% 32 41% Am Stores (2).. 53% 3 IOI% 101% East Roll Mill (ht2). odak Eastman Kod pt (6) » - *» S T 18% 404 40 4 194% 40% 45 4 501 4 5% htly, bu'. continued selling flowed fn market, Practically every imporunt stock- reached new lows, with the exception of American Can, although it dropped $3. Logsses of $3 or so were common and American Water Works, Westinghouse, Auburn and Gillette were among issues losing $5 or more. Among more erratic VlCIi Gonnmm stock at llm then existing market price. 401,102 investors are now Common stock- llolderl of CITIES SIRVICE COMPANY—a company whose annual n. have increased from ‘38,657,916:0 $57,110,650 the first nine months of the present logh 100% year, nponlng @ decline of 3 per cent l-lmt. per -cent for the country as l;kseplember ales. records New York, Minneapolis, Atlanta, San Francisco, Kansas City, Dallas and Phllldflphfll Federal reserve districts made better in the last twelve months. ‘same period net to CITIES SERVICE Common stock and Reserves has grown from $1.13 to $1.46 per share. issues, Allled Chemical ahd Columbia Carbon dropped $9. L. A. Young Spring and Wire, with which Prince & Whitely has been as- sociated, dropped $12 a. share to a new low of $23. National Dairy, with which the firm was also lated, was well assoc! supported. El Storage Bat (5)..: Elk Horn Coal pf. ... 30 3 Emerson Brant (A).. l'n'- Endicott-John (5). .. 40% Eng Pub Serv (2.40) . 454 Equit Office Bldg (3) 39% ErieRR.. 35% Erie RR ist Df (l). . 51 Eureka Vac Cleaner.. 7 Evans Auto Loading. 4 Exchange But (110 21008 St 20 NEW YORK-B'ANKEOCKS Fairbanks Morse (3. 7 3 Ry ’ 108 :“ ng' YORK, October 8 (#).—Bid and ™ asked prices on the stocks of leading New York national banks and trust companies follow: 29% 30% National Banks. ST ;‘“ 16% | Bank of Americ s s 1% tions! Tus 1 4528 101 134 8 Am Sumatra Tob.. 2 0% 16 AmTel& Cable (53,1008 n 274% 198 Am Tel & Tel (9).... 258 112% Am Tobacco., T ux 130% 114% Am Tobacco (B)1:11 148 116% 129 120 Am Tobaccopf (6).. 1 121% g than the Richmond district | 141% 113 Am Type Fdry (8) 1115 e e o er e reall tiade | 114% 108 Am Type Py pt (1), 10s 109 e e 25, “the othes | 1247 8% Am Water Wk (al). 118 "854 W mentioned above all had de- N 8 Sy ovlens ln slles but not as large as the m Rlnhmond district, however, did better than Chicago, Cleveland and St. and nad just the same siump in Radio Pro- gram—every Friday, 8 P. § M., Eastern Standard - Time—N.B.C. Coast-to-Coast andCanadian twork—34 annually, over — payable monthly. you, vil.lmut 1 teresting booklet and its investment securities. HENRY L DOHERTY, .8 COMPANY 60 Wall Street ) low York City. 44% 29% Am Writ Pap pf (4).. 17% 6% Am Zinc Lead & Sm.. 811 34% Anaconda Cop (2%). 53% 20 Anaconda W &C (1), 87% 16 Andes Copper (1)... 29% 18% Archer-Dan-M (2)... 82% 71% Armour of Del pf (1) P 8% 3% Armourof Il (A). B 4% 2% Armourof Ill (B). How 12, Districts’ Stand; °§ 52 Armour of Ill pt('l). far as department store sales for| 13% 6 rst nine months of 1930 are con-| 464 25 Richmond and Boston are 50% 28 2districts bei.ux 3 per cent behind | 242% 194 ‘lyelrs date. | 108% 102% AtchTo& S F pf (5), S: unu bydh'.rlc'l' 176% 1254 Ané:ol-‘-;w:luflm;). for. Bepirm 80% 48 AtGu nd (2). et it o nm?é’r'x‘m 50 At Gulf& W Ipt (5). m ago, follow: § :‘% \th-%nln: ('!‘)).. . 2 Atlas Powder (4). < Ne, 22% Atlas Stores (n1). . *8ept 30. stores, 314 Awlas Tack. . 62 100 126% 6% 6u 2 . 4 Fed Motor Tr (80¢).. 1 Fed Wat 8 A (e2.40). & Federal Screw (3)... 2 Federated Dept Strs. 2 Fid Ph Fire In (2.60), 4 Firestone T&R (1). 1 7 3 5 5 2 7 56 16% 56 50% B 138% 3 Firest T& R pf (6).. First Nat Strs (2%). Fisk Rubber. ... Florsheim Sh A (3).. Follansbee Bros (2). n'l’ l DOHERTY & COMPANY fl Tatnfarion, B . s«-d copy of booklet describing the Cirles Service orsanisadion and the Foster Wheeler (3. > vestment possibilities of it securities. : ‘oundation Co. 7. 7 B Fourth Natl Invest.. 6 i atiice e B0 : p Fox Film (A) (4)... 144 s | New York ot 230 Addres: Freeport Tex (15)... & Fuller 2d bt (17.40.. 108 Ciey Gabrie] l‘nub u)‘n Asso Dry G (!*).-. Atch To & S Fe (10).. 201% 202% 2 1 10796 107% 107% 107% 2 126% 124% 124% 126 8 48° 48 48 ' 48 First Mortgage Loan Applications Invited at 55% Construction Loans Glover & Flather 81% 37 ~ AutoStrap SafR(3). 13 9% 3% Aviation Corpof Del 22 38 19% Baldwin Loco (1%). 116 - 104% Baldwin Loco pt (7). : 122% 88% Balto & Ohlo (7).... 78% Balto & Ohlo pf (4).. 106% Bamberger pf (8%). ums 10! 108 63 Bang & Aroos (3%).. 3 6415 4 109 Bang & Aroos pf (7). 112% 112% 112% 12 Barker Bros (2).....}00s 13% 1 72 Barker Bros pf (6%) ifll 70 ‘Il) 18% Barnsdall A (2)..... 10 18% 16% nm 95% Bayuk Cig 1st pf (1). 10- 95% 95% 95% 67% Beatrice Cream (4).. % T4 7& 20% rs. The tribute has now been 2% delnl’-fltmllt'ly‘ 8 3% 3% 45 42% 42% d for distribution among his rela- 20 Bendix Aviation (’)- 21% 20% ives and friends. 31% Best &Co (2)... T 1508 H N.W. 128% 128% 128% e 225 2 National 1753 X = ; AVAILABLE : through the 1884 Stock written by John B. L-rner presldent Purchase of Notes Market Crisis IO T @ S & —~ 8 . — 8 "3” "f...’.f“fi;.”&. VARl AR Bank Honors' the Late Dr. Wiley. iee?:tl! E:g mm & i oSue.88, cial Tesolutions on the de: l&h of Dr. Harvey W. Wiley, for 80 uany years a member of the board of 5 NEuz [T TN 1 - S o ® o - 40 %, o Tesolttions. do not forget, his ost of | 6% 63 Bkiyn&QuTrpfe). 1 88 ,,m R other fine qualities. At the request of [ 178% 113% Bkiyn Union Gas (5) Y% S banics "board"they were brepaea| 42, 1 Brown shoe () 3 87 36 36% 2 L runs-. =4 RN > St 33% 5% Bruns Ter & Ry 2 6% 7 . Interest in Traction Report. 31% 17 Bueyrus (1).. 164 17 While officials of the Capital Traction 29% Bucyrusev pf 0% 3% Co. state that the financial statement ” covering the corporation’s earnings in September is not yet available, unusual Interest is being manifested in the finan- cial dstrict Tegarding what the figures are to_reveal. Recent sales of Capital Traction stock at 55 have made | 100, %% BurneZeobpt (1) stockholders more than ever anxious| 537+ 30 BUIt A4 MAh Loes 10 ol to get information on the trend of earn- | 479 * Bush Term deb (7)., 708 106% 105 105 ings under the new car fare rate. From | 119 ** 308 115% 118% 118% sources that are considered thoroughly % 1% 1% reliable the impression now prevails that | gy e the net earnings will show an increase | ggs 1215 Butterick Co 18 1234 over September, 1929. The fact thatnet | 119 54 Byers (A M) B51% returns are expected to be higher is con- 2 & sidered of added importance when it is| 77% B§6% Calif Packing (4). 55% considered that last year the company % Callahan Zinc & Ld.. % had no competition from the cut-rate taxicabs. of the trust ‘company, As the result 20% Bohn Alum&Br(1%). Desirably Secured c( l lonl and e close personal friend- 2 Booth Fisherles. by 2nd Trust m w" e g e e 18 Booth Fish 1st pf. on Improved Real Estate in the District of Colum- m resolutions mention Dr. Wiley as Borg Warner (3)..ee bia and Nearby Mary- #cholar, teacher, writer, chemist, doctor 13% Briggs Mfg Co. . of medicine and pubuvf official. His 19 Briges & Strat (2)... land and Virginia. PROMPT SERVICE achievements as chief chemist of the' :3 :;:::::; ::: ;‘e"(‘ii NATL. MORT. & INV, CORP. De rtment of Agrmmure are noted 58% Bklyn-Man Tr (4)... 1004 Vt. Ave. Nat. 5833 ™ Granby Consol (2). s Grand Silver § (m1). - 0 F short duration, the Crisis of 1884 was attributable almost entirely to speculative causes. Currency strin- gency developed rapidly early in the year—to meet the money shortage banks and clearing houses issued “clear- ing house certificates” in lieu of cash. ‘And as in practically every depression the crisis was chlefly felt by the Stock Exchanges. L0 | w3 HEPNOENA R NBANNOANSNNAB AR Gulf Mob & N pt (6). Hackensack W (1%) Hahn Dept Stores. .. Hahn Dept 8 pf (63%) 1 Calumet & Arizona.. 40% Hamilton W pf (6) Calumet & Hecla. ... 10 13 Campbell Wyant (2). 13 14 75% 52% Canada Dry G A (6)a 28 51 51 226% 166% Canadian Pacif (10). 10 17‘ 169% 174 52% 40 Can Pacificnew..... 111 56 42 Il% 61 1m 122 122 copsolidated 5s featured the day’s busi- | 34% 19% Cannon Mills (1. 1 20 ness on the Washington Stock EX-| se0.l 15100 Case (J 1) (6) 46 44% 42% 42% $:i%y i aL “Today's Trading on Exchange. Trading in Potomac Rlect:ic Power Hav Elec R: pL(6).. Hayes Body.... Hcrculu Mot (1.80)w Hercules Powd (I). . Hershey Choa ( Simmons-Boardman Publishing Corporation $3 Cumulative Convertible Preference Stock Conversisle into Comman Siock One class of investors—the possessors of the First Mortgage Notes, such as those issued through Swartzell, Rheem & Hensey Company, did not suffer from the violent gyrations of speculative stocks which wiped out the savings of myriads of persons. STEADFAST through this ecrisis, as in all financial depresmons, in more than 61 years, these 6 per cent First Mortgage Notes re- mained firm—never varymg in value of principal and never failing in pay'menfi of interest. . BamnANBOmO~E aN - Corporation occupies prom.inm position in publishing field. Its periodicals are vummdm. examples of specialized trade papers. Ellninfil for first half of 1930 more than 334 times Preference Stock dividend requirements, SWARTZELL RHEEM aAnND Traded in on New York Curb Exchange To yield over 7%4% T des sovassu Follow e ‘example of the thonsands of happy, successful investors in these - First Mortgage Notes. Achieve finan- ndence through systematxe putting. your funds in l:hese e jonere were cight separate| “7gy 4414 Caterphl Tr (tik) Horah Gnao ot (183~ all the rest of the sales were made -ti 12 9% Celotex voting etfs. . 54 .t 3 30 3.9 s ashington Raflway & Electric 4s 9 4210 210 210 5 Hollander Sons...... i 3% 8% 72 Homestake Min (17). sexies A, moved at 1023, ending the‘ 65% 361 Cerrode Pasco (4).. 18 38% bond trading. 15% 6 Ceriain-teed Prod... 1 bW ; 52 Houston Oil (b10%). Transfer & Storage common eame out | 4 22% Hoasos Motors (33 e udson BUTR00 aocl Koast 11108 00 » So-dhape | Lo B s T 1) R 1 e e 'l‘auu on School Savings. | g% Chie Mil St P& Pac. . 9% 10 B ik i buie of the P°"“l 15% Chic MIIStP&PPf. 12 16k 14% 14% by Vice President Frank W. Lee of 8 Veenn Sevings Bank. whal 40 Chi Pneu T pf (3%). stitution for some years. Mount Vernon Bank carries the 20 39% 38 a 100,000 2 2 N :.:I?: Ytcint yernoky Bank visintatns | 155, W5, Sty S2vest D) 0L W0 16 The s Spencer Trask & Co. HENSEY CO. in 35 schools, which are serviced 29 Clark Equipment 1 K 50% 4 50% o Yook x * $1,000 sales and one $3,000 sale in this 1% Cllaness Cost issue. The bonds opened at 102%, but 29 '3 Colotercor., Hershey Ch pr p£(6). 2 10 9% 10 7 Hoe (R) & Co. 200 Cont Agulrre As 14 - 2 y 3 315 200% Cent RR of NJ (12), at 893, and Washington Gas 6s,| " gy, 8% Century Rib Mills... 1 3% 4 86% 36% 29 5 Houdaille Hershey. . 54 b% 68% 49 Household Fin pt (4) the stock :division, 25 shares of | 18% Checker Cab (4.20).. 10 22% 21% 21% tal Traction sold at 55, Merchants’ 43% Ches & Oh10 (234)... 43% 44 41% 24 turnover, and Peoples Drug Store pre- | % TH 102 Illinots Central (7). femped sold at 101. i 26 Chic Great West pt. . 27% 113 Illinois C.nlrn.l ((Q)’ Hil NW®.. wl yesterday: listened to a thrift ‘3’,2 gmg‘::-troox. .l.) S o! the school savings account which has been maintained by nt of 7,000 school children. The nts average $15 each, and total v dny by 4k iy wngevey | 48% 28, ST SAPRI MORTGACE BANKERS . - Children | 1915 1384 ALBANY 727 I5™ STREET NW. la 9% 10 - Inf 0 $oppen SemIngR scosun 52% 48% Coca-Cola A (3) 61 BL 51 . b2 55% In B5% 554 4 RN 1 ] 83 e ; . WASHINGTON.D.C. _ ! METAL PRICES CUT. YORK, October 9 (#).—The ican Smelting & Refining Co. to- uving Int] Harvester (3% ). securi es, - Intl Hydro E1 A (e2) Intl Match pf (4). Intl Mer Marine (3 lnn Nick of Can (1 Int Nigk Can pt (7).« n\t uu Intl Paper &