Evening Star Newspaper, October 22, 1930, Page 13

FINANCIAL. FINANCIA TMDNGISQUET [ NEW YORK STOCK EXCHANGE | |STOCKSARELOWER |-=if: OND. C. EXCHANGE BT B T ON HEAVY SELLING Consol Film (2). 5 14% ey to Loan ..| First Mortgage Loans -i"‘[-t,wt Lowest Rates of anterest and Commission 3 | Thomas J. Fisher & Company, Inc. 3,50r 10 Year Loans On Improved Real Estate IN Money on Hand to Loan on First Deed of Trust ; —Prev.1930~ stock and 4 ) bt i i Weakness in Wall Street Has “;‘u v ConnGanN Y of (i 3 108 ::“ ::“ 2% Free Offerings of Pivotal Nearby Montgomery OREIGES | Tendency to Slow Up Buy- ke: ing in Local Issues. BY EDWARD C. STONE. In small lot trading on the Washing- ton Stogk Exchange today Capital Trac- tion stock opened at 51% and closed at 51, the same as the closing price for tlon was 50% bid and 51l asked. Mergenthaler Linotype again sold at 91% on & very small turnover. In the bond division the largest sale was & u,ooo turnover in Washington Railway & Electric 4s at Wi in $3,000 Gas 55 figured and $1,000 sales at 1053% while Wash- Gas 6s, series “A," registered small sales at 103, the day's transac- unnlmunuln g steady prices in local bonds, the _unlisted depn—umm Annv nnd Navy Club 5s changed han mn Gas Light stock h now Idn( qun ex dividend on the local one other issue in_the 'hdt l.Ilt ls ex dividend, Nltionll Sav- ings & Trust Co. bank s ‘The lull in trading on th! Wuhlnltm Exchange during several recent sessions s laid largely to the New York Stock Market. When weakness is pronounced in Wall Street, it is almost always felt here. Some umn¢ usually takes place to protect New York commitments and at '.he same time local investors hsitate to do much buying. Making $10,000 From Ten Cents. “Ten Cents Grows Into $10,000.” This %fl‘lfl title MMJIHI“L%& nl’venln Newu,lnwfldnlforh nished ‘The old law of luprly and demand, was u"t Ooc!::l;r‘l ia.n ly solution fgg apparent m: . It was a case supply being very much llmwed and the demand extended. The stamp Adams Millis (2) ddressorr'ph (1%). 3% Ahumada Lead.. 96% Air Reduction (9‘*) *10 Alr Way El1 Ap (1%) )D'A ll'I'A 104 i % Ajax Rubber. 4% Alaska Juneav. % B'A G‘A 64 13% Allegheny Corp. 1 13% 18% 14% 48% Allegheny Sti(12.55) 1 40% 49% 49% 50 199% Allled Ch & Dy (n6).. 81 mm 201% 205 205% 39% Allis Chalmers (3 17 1% 40 40% 40% 21% Alpha Port Cmt (2) 2 2n 21 18 Amerada Corp (2)... 23 21% 10% 2 Am Agricul Chem 41% % 12 56% 545% 37 Am Br Shoe (2.40). !lx 8% Am Brown Bov Elec. 60% Am Brown B B pf (7)170s 15‘% 108% Am Can (15 3 150% 140% Am Can pf (1)‘ 82% 36 Am Car&Fdy (6). 79 AmCar & Fdy pf (7). ) 8% Am Hawalian (a10). 49% Am Home Pr (4.30) 28% AmIce (t4)..cuen. 24% Am Internatl (2).. 52% Am Safety Rasor ll) Am Shipbullding (5) 80s Am Sm & Ref (4 99% Am Wat W 1st pf (6) 18% Am Woolen pf. 6 Am Zinc Lead 33% Anaconda Cop (2%). 251 20 Anaconda W&C (1). 30 Anchor Cap (2.40) 1 156 Andes Copper (1) 71% Armour of Del pf (1) 25 Asso Appl Ind (4)... 501 26% Asso Dry G (2%)... 242'% 194 Atch To & 8 Fe (10).. 108% 102% Atch To& S F pf (5). 175% 118 Atl Coast Line(110). 65% B0 AtGulf& W Ipt(5). 22% At Refining (12) Atlas Powder (4).... 6% Dome Mines (1). 4k Duluth 8 S & Atl, 41 Container A (1.20)..: 15 lft Contl Baking A. 3% Crosley Radio. Crucible Steel Crucible Steel pf (7 P 3 [ T - T - - T ISP PP Al Cudahy Packing M). Curtis Publish (17).. Curtis Publish pf (7) Curtiss Wright Corp. Curtiss Wr Corp A. Cutler-Ham (3%)... Dlvlloll Chemical... nhams (70¢) ... 0 & Co pf (1.40). re & Hud (9). Dtl Lack & Wn (7). Denver & RG W pf.. Detroit Edison (8),:. Devoe & Ray (1.20).. Diamond Match (8).. Dom Stores (31.20).. Drug Corporat (4) Dunhill Int (1) Du Pont de N (14, Du P de N deb pf (i Eastman Kodak (18) Eaton Axle &8 (3).. Eitington-Schild. ... Elec Auto Lite (6)... El Auto-Lite pf (7)., lectric Boat. . Pow& Lt (1)...00 ElPow & Lt pf (6).. El Pow & Lt of (.0 Eng Pub 8v pf (l*). lfill!nm Blag (')A Erie RR 1st pf (4)... Erie RR 2d pf (4).... Eureka Vac Cleaner.. Evans Auto Loading. Exchange Buf (1%).130s Fairbanks Co pf. L LTI © Fed Wat B A (02.40). Federated Dept Stra. Fid Ph Fire In (.60) Firestone T&R (1). Firest T& R of (6).. First Nat Strs (3%4). Fisk Rubber........ Fisk Rubber 15t pf.. 1 Fisk Rub 1st pfev... 108 Follansbee Bros (2). 6 Foster Wheeler (2).. 19 Foundation Co.. [] Gabriel Co (A).. Gardner Motor. Gen Am Inv pf (6) Gen Am T"k Car (u) Shares Cause Further Losses. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, October 22.—In every important group of stocks today liquida- tion carried prices through the former resistance levels and, with stop-loss orders executed more freely than for some time, t-he e.nure list dropped into new low ground for the year. There was an increase in the volume of trading and in the number of large size llnm offered for sale, indicating that ‘J)!y of stocks was coming from lubuunt interests. { Bear Element Active. Discou: ent was heightened by the uubm the market to follow up Monday's advance and by the success of the bear element in capitalizing un- favorable trade devel‘agmenu Sentiment was ected by such market incidents as the decline in Gen- eral Electric well below 50 by midday, in United States Steel common to a level well under that in the previous slump and by the long list of new low prices in the oll group, where not much discrimination was shown as between those that have substantial reserves and others whose finances are being serious- 1y affected by conditions in the oil in- dustry. It was of special significance that Standard Oil of New Jersey fell to within a short distance of the price at which the Rockefeller interests made their spectacular bid last November. There was no evidence today that this stock, any more than other prominent industrials, was receiving its usual sup- port. Pears of further dividend reductions 'era reflected in the steady slipping off otations for copper stocks, with a ?u in this group at thn lorwu& o( year. Motor shares likewise sug- ud further dividend ldjunmenh to currqn earnings. The extreme decline in this section in the. forenoon was 4% points in Auburn Motors. There conspicuous weakness in Chrysler, Hud- son md Studebaker, but General Motors resisted the general trend somewhat better than its companion issues. Speculative Favorites Drop. Nearly all of the popular speculative public utility holding company common stocks went below the previous low fig- ures of the year, including American Power & Light, American Water Works, Public Service of New Jersey ‘and Standard Gas & Electric. Although in- vestment buying in American Telephone & Telegraph has been heavy recently, it has not been sufficient to absorb the liquidation coming from individuals and institutions who have been compelled to reduce their commitments. Rallroad stocks added a considerable number to’ the day’s total of new low prices, with Delaware, Lackawanna & Western. dropping 3 points to par for the first time since 1921. Around midday selling pressure li!hd slightly and there was a small rally, but not of sufficient size to suggest any change in the market situation. Some of Tuesday's unfavorable trade JAMES F. SHEA 643 Louisiana Ave. N.W. REAL ESTATE LOANS M at Low Interest Rates R & RUTHERFORD “rl.llrlll.mn-uul i 1520 K St. N.W. National 0478 FIRST TRUST LOANS Reasonable Rates Courteous Treatment THOS. E. JARRELL CO. REALTORS 721 lb St. W. 'l 0765 . THE COMMERCIAL NATIONAL BANK Let us serve you in all banking and fiduciary matters. Interest ull on nvinn accounts from day of deposit to day of withdrawal. Resources over $19,000,000 WADB H. COOPER, President 14th and G Streets UP TO 300 On Our Liberal 20-Monthly-Repayment Plan No Endorsers Required A Strictly Dignified and Confidential Service Maryland Personal Bankers 8405 Ga. An., sllvcr mm Phones: Under snm:mm n-u Banking Dest. 17th & I Streets Several single offices and suites available at most rea- sonable rentals. Avsly fo Representative, Moore & Hfll, Inc. 730 17th St. N.W. NEW YORK Harry Brisker is now associated with our Wash- ington Office, which offers complete stock and commodity brokerage facilities. FENNER & BEANE NEW ORLEANS and other Leading Cities WASHINGTON, D. C., OFFICE, 1430 K ST, N, County and the District of Columbia Lowmltu BOSSEPHELPS John I’:uoel- z”hll Lite 1417 K St Naitonal 9300 Phone National 7000 NEW YORK STOCK EXCHANGE — NEW YORK COTTON EXCHANGE—NEW ORLEANS COTTON EXCHANGE and other principal Exchanges PRIVATE WIRES:TO NEW YORK, CHICAGO AND NEW ORLEANS SAFE FIR'ST MORTGAGES CONSIDER THOUGHTFULLY WHY —men of large fortunes and wealthy institutions invest enormous sums in First Mort- incidents carried over in today’s market, gages. It is because of two things—the liberal return and the exceptional security. Those same reasons apply to our 6% FIRST MORTGAGES There is nothing speculative about them, but everything that makes an investment attractive and sound. SAFETY OF PRINCIPAL is the FIRST PRINCIPLE OF SAFETY! Real Estate First Mortgages donlably protect your cipal 724 Aubura Auto (§4)... 52% Austrian Cred (3.89). 1% Autosales.... trap Saf R(3). 3% Aviation Corp ot Del 19% Baldwin Loco (1%).- 79% Balto & Oh10 (T).... 108% Bamberger of (§3)- 708 1075 rger pf (634). 70s 1074 5 Bang & Al . GenG&EIpLA (1).. 87 109" Bang & Arcon pt (). 108 130" Gen'G & EIDLA (8). 96 down to 53 per cent from 55 per cent 12 Barker Bros (2) 1208 13% Gen Mi! 3) 45% g‘t 'Tkhnmdm% vailing conserva- 70 Barker Bros pf (6% ) m 70 7 - Gen 96% ve Opitt FIRST MORTGAGE LOANS i L o Gen Motors pf (5) ooy e ot e g] en on income-producing 673 m::m?&’:;'.'"' 15 Gen Outdoor Adv. ... o5 The grain markets once more indi- ashington Real Estate . 48% Beech-Nut Pkg (3). Gen Out Adv (A) (4). 274 cated that they have divorced them- 76% Bel N Ry pt pt 15.51. Gen Pub Serv (b6).. 20% 21 selves from the action of the stock 17% Bendix Aviation (). Gen Ry Signal (5)... 8 61 60 60% }?,?"{‘ni 'Re:kmlhg Lo l.o-dmn nwrted Gen Ry Signal pf (6) 112% 112% decrease 69% Bethlehem Steel (6). 6% 7 the ‘week preceding and were lbout 19 Gen Realty & Util... 122% Bethlehem 8t pf (7). Gen R & Ut pf (e8) 7 per cent below those of the second 99 Bloomingdale pf (7). 20s 102 i Gen Refract (14%).. 46% week of October, 1929. 74 Bluw'thal&Coptf (7). 10s 824 Gen Theatre Equip.. 20% 16 Bohn Alum&Br(1%) 11 16% hert g iy make poor readi; was possible to couragement in the iron and steel re- views of the week insofar as they lua gested active participation by the raf roads in steel buying and an lpnmch- ing balance between production and consumption. On the other hand the steel mnwt of the country dropped 3% uax 113% Gen Electric (1.60).. 997 % 49% Gen Elec speo (60¢).. 11% Gen Food Corp (3)... 33 9% Gen Gas&El A (e30c) 6 Over a Third of & Without a Century sy 17, 18 and l.. It is announced that the conference program d!'ldedtntoflletbml!nfl'tlhmo( May be purchased in amounts from $250 up. B. B S80UE G National 2100 925 15th St. N.W. IS NO SUBSTITUTE FOR SAFETY Gillette Saf Raz (4). 364 Gimbel Bros.... T% 20% Gimbel Bros pf (7)., 60% Association will hold Glidden Co (1.20). monthly meeting at 6 o'clock tomorrow Gobel (Adolf). night at the National Press Club, hnmm mlph Endicott 'veral committee reports are !fl nnde and further plans laid ‘Winter’s work. One report in whlch especial interest is being manifested is ‘The five-day week having fafled to curtail production of matches to the extent planned in Sweden, the factories have reluctantly adopted the policy of cutting down working forces. Equitable Co-operative Bldg. Ass'n OI'GHIM 1879 50th YEAR COMM'I'ED JOHN JOY EDSON, President WALTER S. PRATT, Jr., S Assets 723,083.61 Surplus & Profits Capital Resources, $3,800,000 24 JACKSON PLACE Goodrich BF pf (7). THERE 84% Bkiyn-Man Tr pf (6) Goodyear Tire (5)... 107 Bklyn Union Gas (5) 86% Brown Shoe (3).. of the committee coverln: 118% Brown Shoe pf (7).. mo. u1 charges made by hfll 12% Bruns-Balk-Col Raymond G. 5% Bruns 'l'trl Rys section always has a dinner meet- 13 Bueyru 26 Bucyrus ev M @%). 107% Bucyrus pf (7. 5% Budd (E G) M{ 54 Budd (EG) pf (7). 8% Budd Wheel (1).., 18% Bullard Co... 26% Bulova Watch (3) ecretary ....$1,755,911.57 Subscription for the 99th Issue of Stock Being Received IS YOUR FUTURE ‘ONSIDERED? —are you saving to- wards a com- fortable’ old age? If not, We will gladly explain our plan for saving! Come in today! Gulf States Steel. Hackensack W(1%). Hacken pf A (1%)... Hahn Dept Store Hahn Dept 8 pf (6%) Hamilton Watch 1.80 start syste- Har Wk Ref (12% matic saving Hartman Corp (B) " NOw! Hawailan Pineap (: Y ful investors, but, on the contrary, moderate accumulation. selling appears to have been margin customers of broker- 49% Calif Packing (4) The bottom has been reached in the J el 1 prices of agricultural commodities, Chairman Alexander Legge of Federal Farm Board asserts. “Prices will probably hang around sent levels a while and gradually prove,” he added. The on re- ported to h-ve been made that wheat 1d 25 cents in 30 days is a little 50 CanadaDry G A (5). 56 Canada South (3) 1004 The Shoreham Building Adds Efficiency to Prestige 11% Capital Admin (A). . 80 Capital Adm A pt (3) 1 86% CarClin& Ohlo (4).. 50s 92 92 92 93 108 1045 1043 104 1043 markets are doing betier to the exient bk e ey have recently acted independ- ently of the stock market. s 1 e § Celotex voting ctfs Farm Wages Lowest in Years. 25 Celotex Co pf. . . Farm wages on October 1, this year 20% C,""Axnlmum. were at the lowest point in seven ‘yoars, il o A accor = er Cab (4.20).. e R 41 Ches & Ohio (2%). .. The low level of wages was attrib- 47 Chesapeake Corp (3) uted to poer crop prospects, farm prod- What Is the 1% Chic & Alton ... ucts price. deciines and the fact” that e the supply of farm hands exceed the B Direct Ownership Method demand by more than 40 per cent. % 3 26% Chio Great West of, . 5 The bureau says that the excessive 8% Chie Mil St P& Pac.. % 9 | ¥ & of supply of farm hands “is a reflection of Houdaille Hershey. Household Fin pf (4) Houston O11 (b10%). % Houston Oil (new).. Howe Sound (t434).. Hud&Man Ry (3.60). Hudson Motors (l).. Hupp Motors. Illinots Central (7)., Independ O & G (2 Indian Refinin OCATED on what is concededly the strategic corner in the National Capi- tal, occupancy of the Shoreham Building gives its tenants a prestige that is a de- cided asset. TS intelligent planning and equipment, its luxurious finish and comprehensive service make for supreme efficiency. COMBINATION that presents the best in business and professional con- veniernrce, comfort and environment. 18% Chic Mil St P& P pf. the continuance of the present exten-| 89% 45% Chicago 9020 Sive business depression, which has scat-| 37 9% Chie Poeu Tool tered unemployed industrial workers| 5% 36 ChiPneuT pt throughout agricultural sections in| 126% 72% Chic R 1& Pae (1)... search of a livelihood. The supply 5| 110% 105 ~Chi R1& Paspf (7). in excess of demand in ail geographical 16% Chickasha Cotton Of) sections, ranging from an excess of 24 per cent in the North Atlantic States 10 49 per cent in the South Central States.” Heard in Financial Distriet. The financial district was pained to hear of the death early today of John Insurance Sh (45c. 8 % Ins ctfs (Md) (60c] A Interboro Rap Tran Interlake Iron (1)..s Int Agricuitural Intl Bus Mach (¢ Intl Carriers (26¢) Intl Cement (4). Intl Combustion Int Comb Eng pf.... Intl Harvester (2%4). Int Harvester pf (7). Intl Hydro El A (e2) Int] Mateh pf (4).... Intl Mer Marine (2). Intl Nick of Can (1). Intl Paper & Pwr A.. Intl Pap & Pow (B). Investment Diversification? Our Plan for investing in a cross section of American Industry through direct ownership of the stock of several of the outstanding corporations is fully explained in a booklet, copy of which may be had upon application. You are invited to inspect the single rooms and suites available— and to consider their easy adapta- bility to your most ¢xactmx require- ments. MSKEEVER £ GOSS 4. Representative of the Owners 104% Col Gas & El pf A 10% Colum Graph (¥%).. 90 Columbian Carb (16) *7David K. E, Bruce, son-in-law of Sec- retary Mellon, has asked Interstate Commerce Commission for authority to Intl Ttl&i.l nn_ a in the Unios lm Dept Strs (2)., Investors Equity (3) Island Cr Coal (4) Jewel Tea (14). Johns-Manville (3)., Jones&Laugh pf (7). Jordan Motor Car.... Karstadt (R) (1.03)., Kayser Julius (314). Kelly-Spring Tire, .. Kelly -Spring 8% pf. Kelsey Hayes (2)... New Yoax Srocx Excmance 20 KelvinatorCorp .. 17 9 Jow Yasx Saocn Ruckives Kennecott Copper(2) 120 25% Ricumond, Stocx Excmawcs Kimberly-Clark (13) 6 44% “ Kinney (GR) of (8). 40s 70 e (Continued on Page ll)& AL Iglehart & Co. Investment Bankers 719 Fifteenth St., N.W. Washington, D. C. ‘Telephone District 3581 Baltimore, Md. Wilkes-Barre, Pa. Clarksburg, W. Va. ‘Wilmington, Del. Richmond, Va. Charleston, W. Va. 76% Comm Cred lll 77% Comm C 1st xw 22 Comm Credi} pf B(2 27 Com In Tragl 60) 4 Comin Inv Tr wai 89 Comm Inv Tr pf 80 ComInTevoft 17% Comm Solvent! 9% Comwith & 8o (80c). 981% Comwith & So pf 6) 35% Conde Nast Pub (1), 7% Cangoleum-Na ‘The 4,157 mkholden ptember, mak total o( 112:11.’ ncord high and comparing Wwith 184,097 gain eomp-rutvnh 285 SHOREHAM INVESTMENT COMPANY Rental O, i Mo ROyt Fiteenth aH Vil i Q " Members Center of Commercial and Professional W ashington