Evening Star Newspaper, October 11, 1930, Page 15

FINANCIAL GURB ISSUES WEAK || NEW YORK CURB * INACTIVE MARKET Public Utilities, Oils and Trading Corporation Se- curities ‘Freely Offered. BY JOHN A. CRONE. Bpecial Dispatch to The Star. NEW YORK, October 11.—The curb exchange was weak but active today. Public utilities, petroleums and trading corporations were the worst sufferers in early selling! Their declines, however, ‘were more moderate than in recent sessions. \Some of the larger initial transactions included Electric Bond & Share in a lot of 4,000 shares at 56, off 3; 4,200 #hares of Cities Service at 25, unchanged, and 6,500 shares of American Super- power at 17, up %. Big blocks, however, virtually disap- peared from the tape after the first 15 minutes, being replaced by 100 or 200 share lots. Commission brokers reported an unusually large amount of odd lot side. Creole Petroleum, subsidiary of Stane ard Ofl Co. of New Jersey, was slightl higher following the anncuncement of an offering of rights, proceeds from which would be used to develop Vene- suelan _concessions. _ Stockholders of record November 21 have the right to buy one new share for each six shares held on that date for $4.25 a share, which would make rights worth about 10 cents each at current market levels. September copper statistics, showing further gains in surplus stocks, though Dot as large as some quarters had esti- mated, brought: fresh selling into the red metal shares. Noranda Mines, Newmont Mining and New Jersey Zinc exhibited heaviness. Dubilier Condenser, one of the few radio stocks that came out, gained fractionally following its estimate that October sales would reach $250,000, or about the same as October, 1929. One of the notable features of trading was the lessened selling of international both on the sclling and buying | securities and consequently some im-|* provement in their price tone. Drying up of London selling, temporarily at least, was said to be the cause for slight ii:t':rmem in Brazilian Traction & ght. BALTIMORE MARKET HOLIDAY BALTIMORE, October 11 (Special) — Monday, Columbus day, a legal holi- day in Maryland, the stock market, Grain Exchange, banks and other | financial institutions, fruit and produce markets, as well as State and city of- Sices and large industrial plants, will be Notes and other financial papers fall- ing due on October 13 will be payable on the following day. “LAVMAVI €300 FHL NO SaANOH DOMESTIC BONDS. Sales. High. Low. Close. J'Alabama Pw 4'3s '67 99'4 99V, 991, 68 10334 10334 10344 4 Appalach Gas 65 '4 = 1 Appaiac Gas.6s B '45 2% 3 Pow 55 36101 1014 1 0130 9i 97 H 9240 01% 8832 10138 1 V2 9704 SRS JOTeTS. T SEerReac 528 1 1023, 102% 102% lec Lt 6',s '38100 © 109 109 jec P & L 5s A 2030. 93! pire O&R 825 '4: Pairbanks Mor 55 st 1 6s '3 12 Insull Utilit 6s B 5 Note—All stocks are sold in one exceptis which shows those ~Prev. 1030.— High. Low. 20% 151 Afmliated Prod 3314 5 Afnsworth Mfg $2%. 9% . 214 Alr Investors vte *24 11% Alr Investors cv pf 1324 100 Ala Gr Sou (17) 4% 1 Alexander Indust. 9% 3 Allegheny Ga 15% 7 _ Allled Mills (60c). 366 . 177 ° Aluminum Co of Am. 112% 105% Alu Co of Am pf (6 8% 3% Am British & Cont. 86% Am C P&L (A) (a3) 8% AmC P&L B (10%) 15% Am Com P A (b10% 33% Am Com P B (10%) 10 Am Cyanamlid (B).. 3 915 "Am Equities 22% Am For Pow (war) 95 AmGas& El (11) 2% Am Invest (war). 5% Am Invest Inc (B).. 49% Am Lt & Trac (23). 42 Am Mfg Co (4). 1% Am Maricabo. 7% Am Natural Gas.... 15% Am StPS A (1.60).. 14% Am Sugerpow (1) 87% Am Superp pf (6)... 94% Am Superpwr 1st(6) Am U &G B vte 40c Anchor P F (b10%). 714 Ark Nat Gai 5 Art Metal Works (1) 4% Asso Elec Ind (30c).. 21t Asso GE&E A (a12.40) % ‘Atlantic Fr & Sug. 5% Atlas Utll Corp. 8 Auto Vot Mev pf pt. 55 24% Aviation Cor of Am. 187 5% Bellanca Alreraft 15714 146 Bell Tel of 3% Rlue Rid, 14% 17 Burco Inc v pf (3). 24 Burma Corp (t31¢).. 13 Cable & Wire B rcts. 27 Canada Marconi 3, Carib Syndicat 26% Carnation Co (j1%). 19 Cent Pub Sve A a1.7§ 17% Cent & SW Ut b6% 12 Cent St Fl (k40c) 88 Cen St pfn 4% Centrifug Pipe (60c) 9% Chain Stores Stock. . 153 Chat Ph Alnv (50c). 22% Citles Serv (g30¢)... 88 Citles Serv pf (6)... T% Cit Sv pf B (60c). ... 12 City Mch & Tool (12) 1% Clev Tractor (1.60).. 2 5% Col Oll & Gas vtc. 336'% 234 Com Edison (8). 24 Com & Sou war. 84 Com Wat Sv (b6% 1% Cons Auto M cu pf 2 Consol Coppes 19 7 Consol Dairy Pro 136% 90% Cons Gas Balt (3.60). 10 Consol Laundries(1) % 81 Cons Royal Ofl (50c) 108% 101% Cont G & E pr pt (7). 17% 4% Cord Corp. 74% 5% Cosden Oil.... 15% Cosden Oil pf (7) . 9% Courtaulds Ltd 45c. . 4% Creole Petroleum. 9% Crocker Wheel 8% Cr Cork Int A (1).... % Curtiss Wright war. 2% Dayton Alr & Eng... 24 De Forest Radio 2'3 Detroit Aircraft. 14 Diamond Match new. & Doehler Die Casting. 281 Dresser Mfg (B) (2). 31 DressSR(A) (3%). 2 Dubilier Cond & Rad 6 Duquesne Gas Cp wi. 2 Durant Motors 5 2 Duval Tex Sul wi. 23 FEastG&F Ass 18% Kast St Pow B (1 9 East Util Assocv. 18% 4 East Util Inv (A). 23 5% Eisler Electric Corp. 117% 53 El Bond & Sh (b6) 109% 103% EI Bond & Sh'pf (6). 98% 91% EI Bond & Sh cu pf 6. 16% Elec Pow Asso (1)... 15% Elec Pow Asso A (1) 12 Elec Sharehold (11). 86Y% Emp G&F cu pf (7)., 34 Emp Pwr pt (14.60). & 3 = 1% Evans Wallow Lead. 6% Ex-cello Alr & Tool.. % Fabrics Finishing... % Fageol Motor....... 4% Fansteel Produets. .. 5% Fedders Mfg Co (A). 4% Federal Baking Shop 11% Federat Metals 113, 18% Ford Mot Can A t13% 34 Ford Mot Can B 1% 10% Ford Mot Ltd 37%e. 214 Fox Theater Cl (A).. 8% General Aviation. 2 General Baking. 27 Gen Baking pf (3)... 9% Gen E Ltd rct (50e). 16' Gen Empire Cor (1), 60 Gen G&E cv pf B (6) 2 Gen Laundry Mach. . 20 Gen W WRE A (2) 75 Glen Alden Coal (8). » Se @ E 2 Intercon Pw cv 85 4 § Inter Pw Sec 7 Tintern Sec Am 2 Intersta Power 5 iienn O Ed € 4 Peop L&P 53 1raua siec o 2gpagan 5. 963, 96 50_. 10131 10134 101 n Swe s '35 983, 96 ‘dort-Astor 75 54 Penn_ 55 2030 wi 2 9% 3 7 95 9505 al 1 % 94t 90, L4 19 Prussian ¥ 8 8'cs 51 98 102% k3 Xw Without Warrants. n - New. wi—When issi For sellin, night J. Pickavance was arrested and £-ed at Barrow, England. recently. 983, | 5 9 Globe Underwriters. % Golden Center. % Goldfield Consol. 91 Goldman Sach T 4 % Goth Knitback Mc! 115% GrA&PTof (1), 4 8 Groc Strs Prod v.t.c.. 10% Ground Gripper (1). Guard Fire Asso (2). Gulf Oll of Pa (1%). 20 Guenther Law (2)... 1 Hartman Tobacco. .. 1% Helena Rubenstein. . 24'; Hires (CE) (A) (2).. 11°% Houston Ofl of Tex 5'x Hudson Bay M& 8 74% Humble Ofi (2). 26% Hydro Elec See (2)., 2% Hygrade Food Prod. 4% Imp Chem Ind (25¢). 16% (mp Ol of Can (5vc) 24% Ind Ter 111u O] (A).. 24% [nd Ter Illu Of) (B).. 10 Ind Fin ctfs (b10%). 54 InsCoN Am (13),... 7% Insurance Sec (1.40) % Intercontinent Pet n 3% Int Holding & Inv Co 14 int Petroleum (1)... 25% Internat Super (f1 34% Int Utilities A (3%) 6% Internat (B). 3 Int Util war (new).. 9% Irving Alr Chute (1) 4% Italian Superp (A).. B T RN N AR B ANHARN HANAL NN ANEANHAN MR N0 amBsa D - S - L ammanmSrtane ng those designated by the letter tocks to be sold in odd lots oaly. THE EVENING STAR, WASHINGTON, D..C, SATURDAY, OCTOBER 11, 1930 ~Prev. 1930.—~ High. Low. % -share lots 8 (808) (2508) % 10 60 Ni N Nil RR Sh Reftes Schuite [i} “ US USs Us “Dividend Italian Superp war. . 4% XKen-Rad Tube (A).. Klein (DE) Co (1)..., L'Air Liquide (1.07). Lackawanna Sec (4). Lasarus F & R Co. Lefcourt Real +1.85. Lefcourt Real pt (3) Leonara Libby MeNell & L. .. Lily Tulip Cup (1%) Lion Ofl Ref (2). Loew’s Inc deb rts. .. Lone Star Gas n (1).. Long Isld Lt (56¢) Mass Util Asso. Mavis Bottling. Memphis Nat Ga Met & Min Inc (1.20). Mid St Pet vic A.. . Mid West Ut (b8%).. Mid Utd pf A (3) Mo Kan P L (b10 Mo Kan P L vte. Miss Riv Fuel ba Mount Prod (1.60) Nat American Co. Nat Aviation........ Nat El Pow A (1.80). Nat Investors. Nat Pow & Lt pf (6).100; Nat Pub Sv A ( 4 Nat Screen Sv (2). Natl S T Sec A f50e.. % Nat Transit (1). Nat Union Radlo. ... Neh Corp (1.30). Newberry (JJ) 1.10.. New Eng T& T (8).. N J Zine (1234).... Newmont Min (£4). Newport Co (2)... N Y Pet Royalty. Niag-Hud Pow (40c) ag-1ud Pow A w. ag-1ud Pow B w.. Niagara Sh, Md (40¢) Bem-Pnd t23,, Noma El Corp (80¢). Noranda Mines (2) No Am Aviat A wai Nor & So Am Corp % Nor Europ Oil Corp.. Nor St Pow A (8).... Nor St Pow pt (7). Oflstocks Ltd A 50c.. Outboard Mot (B)... Overseas Secur (1).. Pac Pub Sv (1.30), Pac Western Oil Pandem Oil Pennroad Cp Penn Wat & Pow (3) Peop L & P A a2.40 Petrol Corp war. Plymouth Of1 (2) Powdrell & Alex 4% Prince & Whit (25¢)., Prince & Whit pf (3) Propper McCallum. . Prudential Invest. Pub Ut Hold (50c). Public Util Hold war Pub Util Hold x.w Co Fy Rellance Repetti Candy. Reybarn Co. . 4 Reynolds Invest. ... Rich Oil Cal pt (1%) Rike Kumbler (2.20). Safeway Sors war 24 St Anthony Gold. St Regls Paper (1) Saxet Co Seaboard Util (50¢). % Seg Lock & H (50¢) . Selected Industries. . Ind allctfs(43%). Shattuck Den Min. Shenandoah Corp. ... Shenandoah Cp (a3). 4 Silica Gel ctfs Sim Bd cv pf (3). Sou Penn Oil (121 ). 80 Cal Ed pf C (1%). Southern Corp. SouthldRoyalty (60¢ 8 W Gas Utilities Spanish & Gen re! Standard Motors. Stand Oil Ind (23). Stand O11 Ky. (11.80) Stand Oil Ohio (234). 508 4 Stand O Ohio pf (7). 1208 Stand P& L B (2)... Starrett Corp. ... Starrett Corp pf (3). Stein Cosmetics Stinnes (Hugo) Strauss Roth. Sunray Oil (40¢). ... Swift & Co new (2) Swift Intl (13%)... Syracuse Wash Ma B Taggart Corp (1)... Tampa Electrie (32). Technicolor Inc. . Tran Con Alr Tran.. Trans Lux DLF 8. . Tri-Cont Corp (war) Tubize Chatel (B)... Tung Sol Lamp (1).. Twin St NG A pr (1). Ungerleider ¥ Corp. . Un'N G of Can 11.60. Utd Corp twar).. Ctd Dry Docl Utd Found b Utd Gas Co (new). Utd Gas (war). Utd Gas pf (7)... Utd Lt & Pow A (1), Utd Lt & Pow B (1) Utd Lt & Pow pf (6 US Dalry (B)...... U S Elec Pow ww U S Finishing. . S Foil (B) (1) & Int Secur & Int Sec 1s & Overseas war Received by Private Wire Direct to The Star Office Bales— Add 00. Open. High. Low. Close. 1 2% 2% 2H% 2% 1 4% 4% 4% 4% 10 10 10 and Rate. » S 58 38y 13 o1l . T P I P T UL R L L LT Trrryeyuyeye 8w @ 3 B - S T T LT *o 3 50, c) 2 1 6 4 4 n 1 4 0 5 0 2 . 1 3 4 . 1 1 2 2 3 3 2 6 TP (25¢). 10, 1 1 1 1 1 1 4 2 1 4 1 1 2 5 15 4 0 0 1 6 4 1 2 2 2 3 2 . 1 2 3 7 5 3 7 sh. & Overseas ct h Apex (50e) Util Pow & Lt «a ) Util P&L B ctfs (al) Utllity & Ind. Ut & ind pf (1 Utility Equities Vacuum 011 (4) Walgreen Co. .. Walker (H) (1) Wenden Copper West V Coal & Cok West Auto 8 A 15 5 21% oaymen *Ex dividend. eash or stock 5% In stock. | 2% in stock. 8% in stock t § Plus tPartly extra payable in stock kPlus 10% in stock. m Plus 3% in stock Wil-Low Cafeteria. . Woodley Petrolenm. 8% Zonite Products (1), Dividénd rates In dollars based on iast auarterly or sem. IPlus 4% In stock. s Payable in e Adjustment dividend ¢ Plus in stock. h Plus 1% in stock § Plus n Plus % BY J. C. ROYLE, Current disturbances and unrect in | {Latin America are due primarily to | {economic rather than political causes. | This is the view expressed privately i by statesmen in the National Capital. The fact that political animosities have been largely absent is substan- | tiated by the lack of bloodshed which i has attended the changes in admin- istration in some of the South American countries milk after 8 o'clock at programs for development and improve- Men 1 close touch with the situation believe that Latin America, encouraged in recent years by the general pros- perity throughout the world and by the hlgh prices paid for their products, expanded beyond all reason, and their programs were far too extensive for their finances, came, attended by a check to indus- trial production, it was necessary to | curtail these programs. } This meant an increase in unemploy- ment, general discatisfaction un: { rest. Immediately citizens began to express dissatisfaction with the way the situation had been administered and changes resulted. ‘The expansions were not confined to governmental work alone. The State: and municipalities had most ambitious ment, and as long as they could secure When the recession | OVERBORROWING I'IELI)~ CAUSE OF LATIN AMERICAN UNREST ments little dissatisfaction was ex- pressed. When, however, funds began to run short and lcans became impos- sible to secure the unrest became acute. Brasil is said by international fina ciers to have hopelessly overborrowed. Many of the experts fear it will be a long period of years before the country will be able to p:}' the debts already incurred. Most these loans were of British capitalists, but in the last 10 years a large part of the funds have come from the New York mouney market. In 1920 American loans to Brazil totaled $100,000,000 and they were increased in 1928 by $78,000,000. There was a sharp drop after this period, owing to the feeling that the country had overborrowed, and the last loan put on the market, which was for $95,000,000, was not re. garded as a success. It is asserted by foreign financiers that the American ggblllc took only 15 per cent of the ering. ‘The money loaned to Brazil has not always gone into the channels which were expected to carry it. For example, @ loan of $25,000,000 was secured to provide for the electrification of the Sao Paulo Rallroad, but so far no equipment for this purpose has been the money to finance these devélop- purchased. GRAIN MARKET CHICAGO, October 11 (Special).— i 2300 Borg-Warner The wheat market was lower today un- der scattered selling influenced by dis- appointment over the action of the Liverpool market. December opened 78% to 78, March, 83 to 827%; May, 854 to 853,. After the first half-hour December, 78%: March, 82';; May, 84% to 847%. Corn was weak under liquidation cdused by the bearish Government crop floated many years back with the aid | TéPort, indicating a yield of 2,047,000.- 000 bushels. December opened 817, to 811,; March, 82 to 827,: May, 85 to 84%,. After the first half-hour D cember, 801,; March, 813, ; Ma, § Oats were lower und:r liquidation based on the bearish Government re- port, indicating a yield of 1,411,00¢,000 bushels. December opened 3714 to 37; | March, 38%: May, After the first | half-hour December, 367;; March, 381%; | May, 39 Provisions were lower. - . Question Electrocution Legality. MILLEDGEVILLE, Ga., October 11 (®).—Burly Adams, condemned slayer of a prohibition agent, who was to have been electrocuted at the State prison here today, was given a respite last night by a writ of habeas corpus in which the constitutionality of electro- cution as & means of execution in_this © will State was called into question. There be a hearing Tuesday at Sparta. LARGE SUMS SAVED BY SCHOOL PUPILS Unemployment Cause of Some Withdrawals, A. B. A. Report Declares. . School savings continue to spread, registering on June 30, 1930, the largest numb® of schools and the greatest number of children participating since the school savings plan was inaugu- rated, says the eleventh annual report issued by the savings bank division, American Bankers' Assoclation. The total amount of money deposited dur- ing the year was almost half a million dollars greater than last year, but here the record of growth stops, says the report, since the net savings from the year's deposits was only $7,690,530, which was $2,849,400 less than the net savings at the close of school in 1929. The tendency of greater withdrawals during the past school year is attributed by the report to widespread unemploy- ment. Many banks in forwarding their statement of results have said that de- posits were unsatisfactory because of the extent of unemployment in their respective areas. Commenting on this general use of school children’s savings in time of need, the report quotes William L. Stoddard, executive vice president of the Council on Economic Educaton in Bosto saying in a recent address that “the reserve buying power of the American people has been a life saver in the present business recession. ‘The public schools are beginning to appre- clate that they have a responsibility in the forming of sound habits as to the uses of money. Nothing can more surely stabilize business than to sta- bilize the individual's personal money habits, end no agency except the public schools can do the job so thoroughly. As school saving has grown and at- tracted the attention of a large number of people, it has taken on the added jdea of management, the report points out, so that now it comprehends not only personal thriftiness, but also per- sonal management of finances on the part of the child, whether the money at the disposal of the child is secured through school savings or otherwise. During the year closing June 30 last the number of schools aflording oppor- tunity for savings under their auspices | was 14,611, in whigh were enrolled 4,817,060 pupils, of whom 4,597,731 pat- ticipated in the plan. Ninety-five per cent of the pupils enrolled were par- ticipants. Almost 2,000,000 participated each bank day, which ordinarily is once a week. The deposits amounted to $20,113,060, and the net savings at the end of the year was $7,690,530. The bank balances of the participants remaining at the end of the school year, if added to their balances at the end of the previous years, amcunted to the sum of $52,049,850. This sum does not include the balances of those who have withdrawn from school through gradu- ation or otherwisc. The percentage gain in the number of schools was 2.5 per cent, the number of pupils to whom | opportunity for participation in school savings was afforded increased 1.1 per cent, the number actually participating 8.9 per cent and the number of deposits 1.5 per cent. PETROLEUM PRICES. NEW YORK, October 11 (#).—The| erage price of crude petroleum in 10 producing flelds was unchanged last week from the previous week, at $1.49 | a barrel, Oil, Paint and Drug Reporter | says. The average price for the corre- sponding period last year was $1.652 a barrel. Gasoline at refineries was lower, at 6.52 cents a gallon, at four principal refinerfes, compared with 6.78 cents a gallon the previous week. CHICAGO sfi)cx MARKET By the Assoclated Press. CHICAGO, October 11.—Following is the complete official list of transactions in stocks on the Chicago Stock Ex- change today: ales. High. Low Close. 25 Addresso Inter . .. 30'2 30'z 150 Allied Mot Ind 150 Allied Prod 100 Am Colortype 1900 Bendix Aviation 50 Brach & Sobs ...... 150 Brown F & W A 900 Burnham Trad 100 Burnham Trad 300Cni C & C Ry pf.... 100 Chi C & C Rys ctfs.. 9500 Chic Corp ......... 100 Chic Corp pi. . 4 25Chi No Sn & Mil Pl 100 Chic Yell Cab 2 50 Construct Mat 600 Consumers ... 1300 Cont Chicago . 178 Curtis Light . 100 Edy Paper .. .. 1250 Elec Household 150 Lynch Corp ... 3400 Majestic house ‘Ut 400 Manhat_Dearborn 3500 Marks Bros. 200 Marshall Fiel 100 Merch & Mirs 18500 Mid West Ut 50 Mid W Ut 1250 Mid W Ut 200 Mid W Ut B 100 Midland Nat Gas * 50 Midland United 150 Midland Unit pi 100 Midland Unit war 50 Mid Ut ¢, A I PP ettt 13 TN e (3 s- o smi &5 225 T 450 Nat_Un 5 100 North American i 400 North Amer Lt&Pow 200N & S Amer B & S0 TNESC28. 88 SHESE28LES- SR8 et 530 Pines Win 230 Polymel 200 Process I S0 ater a7, k Stock Yds 5200 Seeboard UL ...... 230 Stand Dredging 450 Super-Mgid . 00 Swift & Ce 230 U 8 Gypsum 600U 8 Radio & Tel Stock sales today, 121 ————e Fashionable women of Denmark are wearing red waist belts. . STOCK AND BOND AVERAGES By the Associated Press. SATURDAY, OCTOBER 11, STOCKS. ‘Three years ago, weekly aver, High, 193 INSURANCE RETURNS DIFFERING WIDELY Many Substantial Gains Noted in Survey Made by New - York Firm. Special Dispatch to The 8tar. NEW YORK, October 11.—The ex- perlence of the various insurance un- derwriting companies thus far this year has been of fluctuating variability, ac- cording to a current survey of the Standard Statisties Co. The survey continues, in part: It may be said, from the data” at hand, that the life companies have en- joyed increaces in volume of business over the corresponding months of 1929, and at the same time there has been a decrease in the mortality rate. In consequence underwriting results of the life companies again this year should be of substant’\l and satisfactory char- acter. “Fire and, to a fair degree, casualty companies, concurrently, however, have not only written less gross business this year than last, but their underwriting losses recently have expanded apprecia- bly. Full-term results, therefore, for these latter units will depend more than ever on how individual investment portfolios have fared during the sharp downward readjustment of junior stock prices since the peak levels of 1929.” ‘WOULD STABILIZE PESETA. MADRID, October 11 (£).—In a re- newed effort to prevent violent fluctu- ations of the peseta exchange, the Spanish government yesterday decided | to set aside about $50,000,000 in gold | for use in attempting to control quota- tions on forelgn markets. The sum was jointly subscribed by | the government and the Bank of Spain. Funds will be established in all the principal financial centers of the world. | These would permit immediate action | if the peseta should slump further. The exchange improved slightly yes- | terday, prices averaging around 9.80 to | the dollar instead of 9.90. In comment- | ing upon the improvement, Premier | Berenguer predicted that it would con- tinue. INVESTMENT TRUSTS NEW YORK, October 11 (#).—Over- | the-counter market: Basic Industry Shares...... Corporate T-ust Shares: . 3 Super Corp of Am Tr Shrs A Super Corp of Am Tr Ehrs B Bid, Asked. | i s 7, FINANCIA INTEREST ON BONDS HEAVY IN OCTOBER Redemptions and Maturities Also Reach High Figure During Present Month, Special Dispatch to The Star. NEW YORK, October 11.—Holders of corporate bonds will receive $176,079,975 in interest in October, and the sum to be realized from serial redemptions, regular maturities and bond calls will | total $136,358,264, according to the | Standard Statistics Co. Detatled figures covering the principal classifications for the two groups follow: Maturities Interest. redemptions, calls $2,209.500 66,500 925,000 3,738,500 44,312,628 Food . 29.680.000 Foretgn " bonds . 57,261,829 Investment 331,000 516:500 1.574.500 2,107,500 28,202,500 218,035 ' 150,400 4,000,000 Tobacco Utilities A | 6,145,250 | 1,925,000 1,379,000 ight, 25,234, Utilities- e and "t 5.445.730 Utilities— 6.247.250 Others Totals 975 §136,358,264 NEW YORK BANK STOCKS NEW YORK, October 11 (#).—Over- the-counter market: Bank Stocks. Bid. Asked. Ameriea .......... ;' Bk of U 8 units i 1L e Chat Phenix City ; Fifth Ave First Natl N'¥! Harriman Manhat Co Peoples Nat.. "?Ezs gl Manufacturers New York. .. ¢ United States. ... Westchester Title B22asd! =B 835323 * A_I§ |.G. C. CONSIDERS RAILROAD CONTROL Pennsylvania Ownership of W. & L. V. Stocks Be- fore Commission. By the Assoctated Press. Arguments over the legality of Penne sylvania Raflroad ownership of large blocks of Wabash and Lehigh Valley Railroad stock were considered today blv the Interstate Commerce Commis~ sion. That tribunal last year instituted s formal proceeding against the Penn- sylvania alleging the ownership by the Pennsylvania Co., the central cor- poration knitting together the Pennsyl- vania system, of the stocks in question amounted to violation of the Clayton anti-trust law. Control Alleged. W. H. Bonneville, commission council, contended today the stock ownership accumulated in the Lehigh Valley and the Wabash amounted to control, and the action could not help but lead to restriction in competition between the Pennsylvania and the other two routes, Further, placing $106,000,000 as the cost of the Pennsylvania acquisition in the stock of the other lines, he argued the shares obtained had not been & good investment. If the money paid for the Wabash and Lehigh Valley stock had been in- vested by ‘the Pensylvania in ordinary bank deposits, he calculated the owning company would now be $2,500,000 better off by reason of the interest it would have earned in comparison with the dividends it has received on the stocks. Holds Routes Shorter. ‘The defense by Henry Wolfe Bickle dealt with the consolidation contests among Eastern railroads as well as other factors. The Lehigh Valley rout- ing he explained as representing a shorter distance between Harrisburg and Northern New York points than the Pennsylvania’s own lines allows. Similarly, he sald, the Wabash line West, of Pittsburgh constituted a short- er distance into Chicago than the Pennsylvania ftself afforded. With other interests in the fleld ready to purchase and link up these facilities, the attorney argued the Pennsylvania was bound to consider its own interests and follow a course which brought it into ownership. He denled the public interest has suffered and questioned the complete- ness of the control alleged on the ground that until the Pennsylvania has actually assumed the management of the two roads it could not be considered to have violated the law. BANK LOANS GAIN By the Associated Press. Bank loans and discounts showed s slight gain last week as compared with the previous week, as their change was calculated by the Department of Com- merce. In the figures that follow the index for comparable periods is given, based on representing 1923-1925 aver- ages as 100: ‘Week endeéd October 4, 136.1. Previous week, 135.3. Same week last year, 139.4. DENIES FRAUD CHARGE. NEW YORK, October 11 (#).—Charles F. Petree, former manager of the Reading, Pa., office of Prince & White- ley, brokers, was arraigned before Fed- eral Judge Goddard yesterday under indictment charging him and others with mail fraud in sales of Manhat- tan Electrical Supply Co. stock. He pleaded not guilty and was held in $1,000 bajl for trial. Assistant United States Attorney Felix reiterated that Prince & Whiteley were in no way im= plicated in - the alleged wrongdoing. Raiders of Life Ihsurance Professional and business life in the Nation's capital is funda- mentally honest; the majority of the men engaged in such endeavors are men of integrity interested in the welfare of the general public. In all lines of endeavor there is a small minority which is not honest and which is interested only in selfish gain, This small number not only takes advantage of the public, but brings dishonor on reputable endeavor. ) The profession offering life insurance is no exception to the rule. Unethical conduct and misrepresentation in this field, which is rare, is particularly reprehensible because not only is an individual being injured, but oftentimes the dependents of that person are deceived. Among the crimes against insurance ethics, “twisting” or the raid- ing of policies occupies a primary place. in the ABC I nsurance Company. Mr. Jones has a policy An unethical agent approaches him and criticizes, oftentimes untruthfully, the protection he has purchased. already bought represents. Of course, this is T'he agent then induces Mr. ] ones to drop the policy and purchase another from the company he “dirty” business; it is unethical; but more impor- tant in ninety-nine out of one hundred instances, the raiding or “twisting” of a policy works a financial hardship on the person who buys the insurance. - Before You Invest—Investigate The appearance of this an- nouncement in the columns this newspaper se is evidence that supports and co-operates with the Better Business Bureau your protection. for The Better Business Bureau of Washington, D. C. 337 Evening Star Building ational 8164