Evening Star Newspaper, October 18, 1930, Page 11

FINANCIAL. STOCK . AND BOND AVERAGES MARYLAND TE‘-M B the Assosiated Press. SERVICE IS lNCIEQSED HIH SRADE STOCK L e LST SINKS LOWER| = lEEe NEW YORK STOCK EXCHANGE Réceived by Private Wire Direct to The Star Office. ~Prev.1930—~ Stock and Note—All stocks are sold in one Dividend Rate jundred-share lots excepting those designated by nu Mm- s (80s) (250-) which shows tl;?u'lb:h h sold in odd lots ock and N PASI 9 MONTHS Sales— Add 00. m.n R 65 13‘1 ~Prev 1930~ 40 13 Business Ahead of Same Period Year Ago—August Drop-Cut in September. BY EDWARD C. STONE. Ne' life insurance production in Sc?- tember was mnm&' better than in New purchases in September only 1.2 cent as_compared with iber lut yen In August &t of Al'lllt. 1929 Thé 1 vol total volume m business for the first nine of this year is still a little n:nd of the 1929 aggregate for the same period. The increase for the first been bou.ht thus far this year than !\:r '.hn first three-quarters of this insurance 2.1 per cent of last year. Ordinary iasurance is five one-hundredths of 1 yer cent ahead and industrial insurance is two- ‘The report, combines the records of new life insurance produetion—exclusive of revivals, inmua and dividend addi- fiau—cl 44 member companies having pcr um o{ r.hg total life insurance tes legal reserve com- For supmher, new ordinary in- surance of these companies amounted b :545 m.m, against $608,869,000 in 10.4 per cent. New mdusu‘ul amounted to $210,- $221,006,000 in 1929, & w cent. New group 8!4’2,000, against | ;an increaze of | 1 per t. New group insurance wu $850,- 752,000, against $833,293,000, an in- crease of 2.1 per cent. The total of all classes written during the first nine months of 1930 was $9,572,897,000, against $9,556,527,000 during the same of 1929—an increase of two- ths of 1 per cent. Joins Fenner & Beane. Harry Brisker became connected with the branch of Fenner & .m of the New York Stock e, Ml Mr, Brisker is well lyn bgmkerue ctl‘r;l vlne former} en connec %h‘ Hibbs & Co. and also with mlvy'ml";! lldlulfldulg :: Georgetown U and is promine! in Masonic aud civic organizations. End of Recession Seen. _That the downward trend in business activity may be nnnnx r.he end is sug- by . mg f Agricultural omics of the pewunem of Agri- culture in a review of business condi- F. G. Awalt, first depity controller of , will address the mid- erence of the trust and divisions of the Ameri- | in Novem- | Washington Produce !nflzr—one-pmnl prints, 43a44; tub, 41158425, W—Heflnery. 40; current receipts, MN:H A ulve—mrleylhmykounl.hi:: chickens, SE? 78 egnorns, ‘24a25; !o'l., h.r'e zmn Le[hm'n fowls, 158 16; rooste: ducks, 15; keats, large, 50a! sml 25a30. Dressed— ‘Turkeys, young, 38a40; old, 33a35; chkem large, 33a35; medium, 32233 a30; Leghorns, 28; fowls, hrle 20-30. ‘medium and small, 26027; Leghorn fowls, 24a26; ducks, 23a25; roosters, 19a20. Live stock—Calves, 12; |nnu 8. lou| X Persian 115 or- California, .00 da, m ‘lemons, 4.5025.50; limes, rex 100 - 1.35; fruit, 3.50a4.50; lpg les, biushiel 308150 box. stock. 37543 357 2.00; grapes, Thompson seed~ 1.75; Tokays, 1.85; Concords, 508 55; q-:lnm, New York, 2.0082.25; cran- ber: 3.2683.50; pears, Bartletts, 2.758 2.00; Seckles, bushel baskets, 2.00a2.25; kegs, 2.75a3.00. Vegetables — Potatoes, sacks, : barrel, 3. 7582.00; nnn!- ms, 7581 oo sq1 1.00} caulifiower, 1.25; cucumbers, 2.50a3.00; lima beans, 2.00a2.50. NEW CAR CONSTRUCTION. ~=Directors e timore Railroad have authorized the construc- .no!lmbnxuntndlmmdnh coal cars in order to provide for future ts and also to provide em- t for men whose services would 55% 69% 26% 274% 127 130% 129 141% 1247% 108% 7" Am Seating... 4 Andes Copper (1)... 4 Armour of Del pf (7) 5% Budd (EG) Mfg. 4 Bush Termmal (2%) % Butte Cop & Z (50¢ ales— Dividend Rate. Add 00. High. Low. mm Close. Abitibl Pow & Paper 1 9 9 AbiUbI P&PDE (). 1 40 40 m Adams Exp (1.60)... 28 20% 20 20 Addressorr'ph (1%). 2 31% 31% Ahumada Lead...... 1 % kil Air Reduction (1414) % 96% Alr Way El Ap 1%) T10 Ajax Rubber, , . , % Alaska Juneau 5% Allegheny Corp. 18% Allegheny StI(12.55) 8 50 49% Alllance Realty 133 . ~70 4 Allied Ch & Dy (n6). 200 Allied Ch & D of (7). Allls Chalmers (3)., Amerada Corp (2)... 28 21 Am Agricul Ch pf. .. Am Bank Note (13).. Am Bosch Magneto. . Am Br Shoé (2.40). . Am Br Sh & F pf (7) Am Brown Bov Elec. Am Brown BE pf (7) Am Can (15)... Am Car & Fdy (6)... Am Chain (3)..e.... Am Chicle (13) . Am Com Alcohol. ... Am European Secur. Am & For Power Am & For Pw pf (6 Am & For Pw pf (7). Am & For Pow 2d pt. Am Hawallan (a10). Am Hide & Leather, , Am Hide & Leath pf. Am Home Pr (4.20)... Am Ice (14)... Am Internatl (2).... Am Locomotive (4). Am Ma & Fy (11.65). AmMach & Metal Am Metal Co (1%) Am Pow & Lt (31)... Am Pow & Lt pf (6). AmP&LDLA (3%). Am P & L pf A st (5) Am R & St San (13%) Am Rad & SS pf (7). Am Republics. .. Am Roll Mill (n2)... Am Safety Razor (5) 4/ Se 2 00100 00 19 10 I 3 10 0109 b 00 orrfeee © w Sa Reea Am Ship & Com. Am Shipbuilding (5) Am Sm & Ref (4).... Am Sm & Ref pf (6). Am Sm & Ref f (7). 3 SorrnBlanwa Am Stores (t2%) .00 Am Sugar Ref (5)... Am Sumatra Tob, . Am Tel & Tel (9) Am Tobacco. . Am Tobacco (B) Am Tobacco pf Am Type Fdry (8 Am Water Wks (n1). Am Wat W 1st pf (6) Am Woolen..,. ... Am Writ Paper ctfs. Am Writ Pap pt (4). Am Zinc Lead & Sm. Anaconda Cop (2%). Anchor Cap (2.40)... Anchor Cap pf (634). - a. o SR nnel wBonmn Archer-Dan-M (2).. Armour of 11l (A)... Armourof 11l (B). Arnold Constable. Artioom pf (7) Art Metal Const (2). Asso Diy G (2%) Asso D G 2d pf (7). Atch To & S Fe (10). AtchTo &S F pf (5). At Gulf & W Ind (2). AtGuif & WIpf (5). At Refining (12). Atlas Powder (4).. Atlas Stores (n1) Atlas Tack. ., ... Auburn Auto (34). Auto Strap Saf R(3) Aviation Corp of Del Baldwin Loco (1% ). Balio & Ohla (7).. Bamberger pf (C%) lfl-h )07* Bang & Aroos (3%). 59 Bang & Aroos pf (7). 10! 111 Barnsdall A (2). 39 Beatrice Cream (4) Reatrice Cr pf (7)... Beech-Nut Pkg (3).. Belding-Hemingway Bel N Ry pt pf 15.51. Bendix Aviation (2). Best &Co (2).. Bethlebem St Booth Fisherie Borden Co (k3) Borg Warner (3)... Botany Con M lA). . Briges Mfg Co. . Brockway Mot Tri. Bklyn-Man Tr (4)... Bkiyn &Qu Tr pf(5). Bklyn Union Gas (5) Bruns-Balk-Col. ... Bruns Ter & Ry 8... Bucyrus (1).... .. Bucyrus cv pf (234). Ve Budd Wheel (1). Bullard Co. ., Burns Bros (B) Burr Add Mach (1).. g [N TN Bush Term deb (7)..1 Butte Superior. Butterick Co Byers (AM)... Calit Packing (4) Can Pacific new Cannon Mil! Celotex Co. Celotex vot) elotex Co pt. C!nl Agulrre Cent RR of NJ (112). Century Rib*Mills Cerro de Pasco (4 Certain-teed Prod. Certain-teed Prod p Checker Cab (4.20) Ches & Ohio (2%). Chesapeake Corp ( Chie & Alton Chi YellowCab (3). % Childs Co (2.40).. Chile Copper 21 ). Chrysler Corp (3). City lee & F' (k3. 60). i City Stor (50¢ Clev & Pitts (3%} Coca-Cola (6). Collins & Afkman. Colonia) Beacon. Col Fuel & Iron (2).. Colo & South (3) Colo & Sou 2d pf (4).. Col Gas & £l (2). 115 Col Gas & Bl ot A (6) Col G & El pf B (5) Colum Graph (a%). . Columbian Carb (16) Comm Credit (2).... Comm Credit A (3) 3 Comm Cred pf (1%).1008 Comm Credit pf B(2)430s Comm Iny Tr war... 1 Comm Solvents (11) 70 Comwith & 8o (60c). 383 Conde Nast Pub Congoleum-Nair Congress Cigars, i« Dome Mines (1).. 123 6% Corn Prod pf (7).... 40s 194% Coty Ine. 11 12% Crex Carpet Crof Wheat (12%4).. Crown C&S pf(2.70) . Crown Zellerb'ch u) Crucible Steel (k 621 Crucible Steel pf (1) uo. 109 Cuba Cane Prod. Cuba Co Cudahy Packing (4). Curtis Publish (17). Curtis Publish pf (7) Curtiss Wright Corp Curtiss Wr Corp A.. Cushman's pf (7)... Cutler-Ham (3%) Davison Chemical. . Deere & Co pf (1.40) . Delaware & Hud (9). Del Lack & Wn (17). Denver & RG W pt.. Detroit Edison (8).. Diamond Match (8). Dom Stores (11.20). Drug Corporat (4)., Dunhill Int (1)..... Du Pont de N (14.70) 4 Du P de N deb pf (6) East Roll Mill (ht2). 3 1 EBastman Kodak (18) 48 186% Eaton Axle &S (3).. g0 16} Eitington-Schild pL 1 40 Elec Auto Lite (6). 51 . 38 El Auto-Lite pf (7). 24\)- 105% Electric Boat. 3% El Pow & Lt (1) ElPow & Ltpf (6).. 156 96 El Storage Bat (5).., 10 52% Endicott-John (6)... 1 40% Eng Pub Serv (2.40). 5 43% Equit Office Pldg (3) 1,87% Erie R R. . 487 35% Erie RRISUPE (4)... 1 51% Erie RR2d pf (4)... 5 49% Evans Auto Loading. - Fairbanks M pf (7) Fashion Park A Fashion ParkA: Fed Motor Tr 30'. 46% Follansbee Bros (2) Foster Wheeler (2) Fourth Natl Invest Fox Film (A) (4 Frank Simon pf (7) Freeport Tex (15) Gen Am T’k Car (34) Gen Asphalt (4) Gen Baking pf (8) Gen Bronze (1). % GenCable A. . Gen Cable pt (7). Gen Cigar (4) Gen Electric (1. Gen Elec spec (‘0:). Gen Food Corp (3).. Gen Gas&El A (e30c) Gen G & El cv pt (6). GenG&EIpfA (), Gen Ital Ed (a2.62).. 4« Gen Mills (3). . Gen Motors (13.: Gen Motors pt (5) Gen Pub Serv (b6 Gen Ry Signal (5). Gen Realty & Util Gen Refract (14%). Gen Theatre Equip. Gillette Saf Raz (4). Gimbel Bros Goodyear Tire Gotham Silk Ho Gould Copper Graham-P; Granby Co! Grand Sflve Grand Union. Grand Union p: Granfte City Stl (4). Gr North pf (5) Grigsby Grunow. Gulf Mob & N pf ( Guif States Si Hackensack W (1%) 20s Hahn Dept Stores... 36 Hahn Dept 8 pf (6%) 3 Hall (WF) PrCo (2) 4 Hanna pf (new) (7). 20s Har Wk Ref (12%).. 4 le! an Corp (B).. 2 Body...... L3 H-lmn (Geo H)'(11). 1 Helme (GW) pf (7).. Houston Ofl (b10% ). Howe Sound (t4%). . Hudson Motors (3). Hupp Motors. ...... Ilinots Central (7). Independ O & G (2). Ingersoll Rand (15). Inland Steel (4).. 8% Inspiration Coppe: Inectfs (Md) (80c).. interboro Rap Tran. Interlake Iron (1). Int Agricultural. Intl Bus Mach (né Intl Carriers (25e).. Intl Cement (4) . Intl Combustion. . ... Intl Harvester (2%). Intl Hydro El A (e2) Intl Mateh pf (4).... Intl Mer Marine (2). Intl Nick of Can (1). intl Paper pf (1) .. Intl Printg Ink (2%) Intl Salt (3)... . Intl Tel & Tel (2)... Inter Dept Strs (2).. Int Dpt St pf xw (7). Investors Equity (2) Island Cr Coal (4)... Jewel Tea (t4) Jones&Laugh pf (‘l) % Jordan Motor Car. City Sou (s)‘.. tadt (R) (1.03). Kayser Jullus (2%). Kelly-Spring Tire Kelly-Spring 8% of. Kelsey Hayes (2) Kelvinator Corp Kend Co pf (1637).. Kennecott Copper(2) Kimberly-Clark (13) Kinney (GR) pf (8). 10s (SH) Co (p1). Kreug & Toll (1.60). Krog Gr & Bak (n1). Lambert Co (8)..... Lee Rubber & Ti Lehigh Port Cmt (1) Lehigh Valley Coal. . Lehigh Val (t4%) Lehman Corp (2). Lehn & Fink (3).... Liggett & Myer (15) . Lig & Myers B (15 Liquld Carbonic (4). Loew’s Ine (3). Ludlum Steel Ludlum St pt Mac And & I* (1 ). MeCall Corp 12%). MeCrory (B) (2).... IHK“ID(TP"SK) n & Rob (1) BD! (3%). lom 118% 4% 5% 110 50% 19% 229 145% 105 6% 185% 4 202 8 14% 69% 10% 90% 120% 9% 184% 16% Large Offerings Force Mar- ket Down to Record Low Levels. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, October 18.—Continued selling of high-grade investment shares as well as speculative issues, both in the largest volume for a short session so far. this month, brought stock market prices today to a new low average for the gen- eral list and large numbers of individual issues to lows for the year. As on Pridaw the supply of long stock appeared unlimited, with the opinion prevailing that it represented liquidation of important accounts. The market dropped down by easy stages and at the end of the first half hour declines ranged from 1 to 3 points in active issues. In this period total transactions amounted to 675,000 shares, or more than double the volume in previous sessions. Pressure was again exerted against such stocks as General Electric, Gen- eral Motors, Westinghouse Electric, American Can, Gillette Razor, Consoli- dated Gas and a number of the leading rails. In the latter list, Baltimore & Ohio was off 3 points in the first hour, New York Central 2 and Union Pacific 1. - United States Steel common showed better resistance to the general trend than any other leader and this helped to bring about a moderate rally which 4| ran into the second hour of trading. The failure of stocks this week to maintain the rally and to work steadily lower, until average prices are now be- low those of last November and by some measurements about equal to those of 1927, has unquestionably modi- fled the views of those who had begun to feel that market prices and income ylelds had reached a point where ac- cumulation of stocks should be con- sidered. ‘The lack of buying power has led to a resumption of short selling. This has also been increased by the suspi- clon that considerable distressed stock was again coming on the market, Brokers’ Comment NEW YORK, October 18.—Further weakness in the stock is anticipated in today’'s brokerage house advices, many of which call attention to recent “arti- ficial methods” of restricting short -ell- ing through high loaning rates. menu follow: Otis & Co.: “The market needs strong support unmedhmly to prevent further material decline.” ‘Winthrop, Mitchell & Co.: “Further liquidation apparently is in store for the market, although distress sel has passed for the time being, and the vari- ous disturbing financial rumors have been effectively squeiched. * * ¢ Po- litical considerations are being more and more stressed in market discus- siohs at present.” Bask & Walbridge: “At this stage in the period of depression it is time to| guard ullm\t over-bearishness, just as| there is danger in becoming too opti- mistic toward the last of a period of prosperity.” Hamershlag, Bm‘l & 00' "We believe that bank loans ral will con- tinue to be an l.mporunt market fac- tor.” Jackson Bros., Boesel & Co.: “It 15 now apparent that the easing up in the juic 2 movement during short account has not covered and Lhn will now serve as the strongest ing influence on prronmmoed wulnul!' POWER PBODUCTION By the Associated Press. Production of electricity by the elec- tric light and power industry of the United States for the week ended Oc- tober 11 was 1,703,751,000 kilowatt hours, the itional ht As Monay’-to Loan uged by first deed of trust on real estate. Sec 2f trgst en real es Joseph 1. Weller ‘gar-n's § &9 First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc., %06 15th St. N.W. Phone Nati i Mortgage Loan Correspondent for The Prudential Insurance Co. of America First Mortgage Loans Lowest Rates of snterest and Commission Thomas J. Fisher & Company, Inc. Money on Hand to Loan on First Deed of Trust 6% Interest ' Reasonable Commission and T Eblcations JAMES F. SHEA 643 Louisiana Ave. N.W. FFICES ill Building 17th & I Streets Several single offices and suites -vuhm at most rea- wnnz oly h Mlmlllll'.. Moore & Hil], Inc. 730 17th St. N.W. On Our Liberal 20-Monthly-Repayment Plan No Endorsers Required A Strictly Dignified and Confidential Service Maryland Personal Bankers s, G, v, S g, Mo Under Supervision State Banking Dept. Two n-rl a Three years l‘v. weekly aver. . High, 19! when Mr. Cartmell purchased his seat, and firm members state that their ex- | ner Bros. Pictures has contracted with change business has been only a smalt | Columbia Pictures for the entire 1930-31 proportion of total business. ‘The firm |Columbia product of 20 audible features lans (o continue in the investment|to be exhibited in all Warner theaters. | ing company and service line telephones | which hook up with the lines of the | Bell companies, making a total of 217,- | 829 telephones now in use in Marylaze. ‘ Telephones in Baltimore have in- ‘cuned 2,742 so far this year, which n;al:dl 137,119 now in service, Irish state AVERAGES BELOW mo NEW YORK, October 18 (#).—All of | the recognized averages have now | broken below that of November, 1929. | This brings them about on a level with the average in the Autumn of 1927, or } to the point where much of the exces- | sive enthusiasm over common s | began to develop. In contrast with the {low average duplicating that of 1927 | are the earnings by many corporations, whose stocks have been under pressure, | in excess of both 1927 and 1928. | $3,000,000 CONTRACT. NEW YORK, October, 18 (#)—War- J By the Associated Press. ganklnt fleld, maintaining its branches | The contract involves $3,000,000 in ‘Unfilled wnnu: of sheet steel in- | and personnel intact. bookings. creased slightly to 388,599 tons as of October 1, compared with 373,148 tons e National Association seeel Manufacturers Tepo! for September showed an increase of 65,485 tons over August, amounting to 214,454 tons, compared with 148,969 tons in -August. Total production in September was 179,928 tons, against 173956 in August. H. W. Peters, vice pusldent in charge of distribution of Packard Motors, said that retail deliveries in September were 24 per cent ahead of August and de- liveries in the first 10 days of October indicate the current month will be equally as and probably better than Septem! The New York Cocoa Exchange J. A. McGlade has been clevefly for another for $2,300, an !ncuue of $100 over the previous sale. P. D. Saylor, president of Canada Sompeny's sca; year on' September 30 year on T mmv!z that the sales for the last 12 months are only 2 per cent less than for the previous year. He added that profit for the year probably will be within 4 or 5 per cent of the preceding year. Production of silver by companies which in 1929 produced 87 per cent of the world output amounted to 16,- 513,000 fine ounces in July, the latest month for .which figures are available, 18,607,000 in June and 21,657~ in July last fil Production in the United States September totaled 3,717,000 ounces, it 3,835,000 in August and 4,634, in September last year. A new record was established in the volume of hide futures trading on the New York Hide Excl 3 total tumnover ~aggrega 6,360,000 pounds. The previous h mark was established June 18 last when 5,320,000 pounds were traded in. ‘With the posting for transfer of the New York Stock Exchange membership of Van.N. Cartmell, member of the firm of Hale, Waters & Co., the firm will automatically retire as a member of the exl:!unce on consummation of SWARTZELL RHEEM AND . HENSEY CO. MORTGAGE BANKERS 727 I5™ STREET N.W. WASHINGTON, D.C. First Mortgage Loans On improved Real Estate in the District of Columbia and nearby Maryland and Virginia for 3, 5 or 10 year ferms on your 5%% RAaNpDALL H. HHAGNER & COMPANY Home Office Building Apartment Business Property | MORTGAGE LOAN CORRESPONDENT New York Life Insurance Company 1321 Connecticut Ave. Decatur 3600 MONEY TO LOAN 6% lNTEREST HOMES BUSINESS PROPERTY Also Funds Available for Construction Loans WM. H. SAUNDERS CO., Inc. D'istrict. 1016 1519 K Street N.w. World War 1914 a bloody ::onflagration- of war . that later embraced every world power was ignited in Eurppe ., . The World War, the greatest period of Arma- geddon in history. The throbbing of the cannon on the swaying battlefront held a sinister influence ' over business and securities in the United States as well as in Europe . - . Stock exchanges closed because of fear of a crash. While speculstive securities wavered and tottered during those exclting days, owners of the First Mortgaged Notes, issued through Swartzell, Rheem & Hensey Com- pany, found that investment STEADFAST and safe.. For they had placed their funds jn a security which since 1869 had never fallen below par and never failed to pay its steady interest return. A certain way to avoid financial loss—the unpleasant aftermath to speculative in- vestors during every business depression —is ‘to abstain from speculation alto- gether. Your funds placed in these First Mortgage Notes are safe from the hazards ! of a fluctuating market and earn for you . & generous income. ©