Evening Star Newspaper, November 13, 1930, Page 13

TAS G0 MAY BUY PUANTIN VRGN r for Fredericksburg Mu- |4 lclpal Works Is Before City Council. . BY EDWARD C. STONE. dispatch to The Star from Fred- burs Va., received this noon, says: offer for the purchase of the cipally owned gas works has been before the Fredericksburg Com- Council by representatives of the Gas Co. of Washington, and although the negotiatiome ‘falled to result in & definite de- from the law-making body, it lieved that an eventual sale will be “The acquisition of the local gas ks by the Washington Gas Co. would marked by a considerable reduction g the present rates, the representa- u ntaud and better service to con- "l'hl offer of the Washington con- cern has been referred to the Commit- tee on Light and Finance, the city manager and city attorney for further consideration.” ‘The above dispatch is of special in- terest in view of the recent acquisition the Washington Gas Light Co. of municlpn utility plant at Alex- 'a. The company in many other ‘ways u Aho expanding its business steadily. Finance Convention Arranged. ‘Business in 1931 in the light of pres- ent credit and installments selling con- ditions will receive the attention of 400 specialized commercial bankers, meet- lfl Chicago November 18 and 19, at the seventh annual convention of the National Association of Finance Com- es. rating figures of the finance com- molgf show that installment selling weathered the business storm and has had no part in limiting the pur- chasing power of the public this year,” sald C. C. Hanch, general manager of the association. “The problems of these companies involve mmunct.um:, merchants, bankers and the m consistent demonstration g Mymo!mgmununwnlm:ufl ment selling_on standard terms is of to the whole business world.” Rome C. Stephenson, president of the American Bankers’ Association, will address the meeting on “Credit and " “Selling Motor Cars in 1931" will be discussed by Paul G. Hoffman, vice president of the Studebaker Cor- poratior. of America. The official of the association will be ddent, Victor L. Brown of Mil- Nlfihln B. Williams, Washington law- yer, will take up the problems of auto- mobfle seizures for violations of the mmbmon laws. Open discussions will e up several hours of the convention with such topics as the bank attitude toward automobile paper, used car problems, collections, credits, financing of eommodmn other than automobiles and the problems of the dealers. Auditors Meet This Evening. Ral) Endicott, chairman of the WDIE ot} the District of Co- lumbia mnkm' Association, has called & dinner of the uctlnn at the ll.mm Club for 6 o'clock this special commm« ap- po:: Q‘W 5 tem to prevent e upon & fnuflulent mp: of drafts, cashier's checks 3 Credit Situation Is Improving. The National Association of Credit an advance of at least 6 per cent over a month ago. The announce- credit policy and to the use of vigorous collection methods. Of total of 103 local associations rewn~| In' for October, four rated collections “good,” 6 “fair” and Il “slow.” Thll ‘compas with one “good,” 57 “fair” lnfl 1! “glow,” in September. ' Today's Trading on Exchange. Cl&ll‘l Traction opened at 51 on ‘ashington Stock Exchange today, but closed with three 10-share sales at 50. Potomac Electric Power 5% per cent preferred came oub at 108% and cle at 108, while the 6 per cent pre- ferred closed at 111. Mergenthaler 89 and Washington Railway & Electric preferred in a 43- share turnover at 99. ‘sold at ms i, from yesterday's elose. erate trading was recorded in the | hond division with Potomac Electric | Power and Washington Gas issues sell- | ing around recent levels. Financlal Distriet Notes. ‘The present business depression and 1ts causes, together with summaries and comment upon the world-wide aspects, with mention of the geld and repara- tions influences and comment from ex- pert foreign sources comprises the cur- rent issues of the. Wasbington Loan & Trust Co. financial bulletin edited by Norman E. Towson, Directors of the G. C. Murphy Co. have declared the regular quarterly div- idend of 40 cents per share on the com- mon stock, payable December 1, to stock of record November 20. Local banks are completing their plans for the opening of another co- operative Christmas Savings Club cam- paign. The new clubs will be opened in just a little over two weeks, as they start on Saturday, November 29, The number of members and the amounts subscribed have increased every year since 1925, and an effort will be made to reach another new- peak again this year. The weekly Tuncheon attended by Jeading local bankers at the Willard yesterday drew the largest representa- tion of the season. Bankers have plenty of live subjects to talk about in these strenuous financial days and yesterday's discussions proved particularly interest- ing. MEETINGS ON RAILWAY MERGER PLANS HELD By the Associated Press. NEW YORK, November 13.-—Meet- | ings prelimipary to & conference on the Eastern railway metger problem are being held by representatives of four trunk lines, the New York Central. Pennsylv:mu. Baltimore & Ohio and the Chesapeake & Ohio Railroads. The meetings have brought together of- ficlals of all the roads, but not at the same time. A meeting at which the four lines would be represented is ex- pected to be, held next week. It was said that Lh( four lines favor a four-! trunk grouping of the Eastern lines, although the “Intersiate ' Commerce Commission’s final consolidation plan calis for five Eastern trunk lines. It! was added that little progress had been made toward ‘d}mun: difficulties in the way of tion. 5 P COMMODITY PRICES. ; Dlvldenl Rate. Add 00. High. ADbitib) Pow & Paper Adams Exp (1.60)... Adams Millis (2).... Addressozr'ph (1%). Advance Rumley.... Ahumada Lead...... Alr Reduction (14%) Alr Way El Ap (1%) Allegheny Corp. Allegheny 8t1(12.55) Allled Ch & Dy (n6). Allied Ch & D of (7). Allis Chalmers (3).. Alpha Port Cmt (2).. Amerada Corp (3) Am Agricul Chem... Am Agricul Ch of. Am Agri Ch pf ctfy Am Bank Note (13 Am Beet Sugar. Am Bosch Magn Am Br Shoe (2.40) Am Brown B E pf (7) Am Brown Bov Elec. Am Can (15) Am Can pf ¢ Am Car & Fdy Am & For Pw pf (7). Am & For Pow 24 pf. Am Hawafian (210). Am Hide & Leathe; Am Home Pr (4.30 Am Internatl (2). Am LaFr & Foam p( 20- Am Locomotive (4).. Am Locomot pf (7).. & Am Ma & Fy (11.65). AmMach & Metals... 8 Am Metals&Min (1), 10 Am Nat Gas pf (7).. 10s Am News (§t4)...... 80s Am Power & Lt (r1). 66 Am Rad&std San(1). 100 18% Am Rad &8 8pt (7). 10; Hg: 140% Am Republics...... Am Roll Mill (n2)... 32 Am Safety Razor (5) 3 Am Seating. ... 24 Am Ship & Com Am Bhipbufldlnl (5) 130l Am Sm & Ref (4). 55 Am Sm&R 24 pf ). Am Snuff (13%).... Am Solv & Chem .. Am Solv & Chem pf.. Am Steel Fdy (3 Am Sugar Ref (5) Am Sugar Ref D!('l). Am Tel & Tel (9)... Am Tobaceo (5) Am Tobacco B ( Wks (n1). Am Woolen. Am Woolen pf. Am Writ Paper ct Am Zinc Lead & Sm. Anaconda Cop (2%). 491 Anaconda W & C (1). Anch Andes Copper (1) Archer-Dan-M (2)... Armour of Del pf (T) ‘Artloom Corporat Artloom pf (7). . Asso App! Ind (4! AssoDry G (2% Atch To& S Fe (10). Atch To & 8 F pf (5). Atl Coast Line(110). AtGulf & W Ipf ( At Refining (12) Atlas Powder (4 Atlas Stores (nl Aviation Corp of Del Baldwin Loco (1%). Baldwin Loco pf (7) Barnsdall A (2). Bayuk Cig 1st pf Beatrice Cream (4).. Beatrice Cr pf (7)... Beech-Nut Pkg (3).. Belding-Hemingway Bel N Ry pt pf 15.51. Bendix Aviation (1). 4 Best & Co (2).. Eethlehem Steel (8). Bethlekem St pf (7). Blaw-Knox (1%).... Bohn Alum&Br(1%) Bon Ami (A) (16)... Borden Co (k3). Borg Warner (3), Briggs Mfg Co. Brockway Mot Trk. . Bklyn-Man Tr (4)... Bklyn-Man Tr pf (6) Bklyn & Queens. .... Bklyn Union Gas (5) Bruns-Balk-Col..... Bruns Ter& Ry 8. Bucyrus (1).... .. Bucyrusev pf (3%). Budd (EG) Mfg.... Budd Wheel (1) Bullard Co. .. Bulova Wateh (3)... Burr Add Mach (1).. Bush Terminal (2%) Bush Term deb (7).. Butte Cop & Z (50¢).. Butte Superior. . Butterick Co . Byers (A M) Calif Packing (4). Calif Petroleum Calumet & Arizona. . Calumet & Hecla. ... Campbell Wyant (2) Canada Dry G A (5). Can Pac new (2%).. Cannon Mills (1.60). Capital Admin (A).. Capital Adm A pf (3) Car Clin & O sta (5). Case (J ) (6) illar Trae(14) h-D pf (8%). 210. Corp. Celotex Co. . Celotex Co pf. Cerro de Pasco (4).. 62 Certain-teed Prod 3 Checker Cab 4.30) ., Ches & Ohio (2%)... Chesapeake Corp (3) Chic & Alton Chic & Alton pf..... Chie Great stern. Chic Grt West pf(1). Chie Mi) St P & Pac. Chic M1l §t P& P pf. Chicago & N W (5),. Chic Pneu Tool Chic R | & Pac Chi R 1 & Pac pf ( 4 Chi YellowCab (8).. Chickasha Cotton Of} Childs Co (2.40) Chile Copper (2). Chrysler Corp (3) City Ice & F (k3. City lce & F pf (6%) City Stores (50¢c). .. Clark Equipment (3) Peabody (3) 2 Colg-Palm-P of (6 Collins & Atkma Colonial Beacon. ... Col Fuel & Iron (1).. 8% Colo & Sou 1st pf (4) 10% 38% 31% 5% % 1% 184 102 103 126% 96 100 lll% 15 9% 1404 10% 31% 584 7 1% 187% 105% 105% 126% 96 101% 112% 6% Dome Mines (1) Cons Gas N Y of (l) Consol Textile. Container A (1.20).. Container B Contl Baking A. Contl Baking B. Contl Baking nl (l). Contl Can (3%).. Contl Dia Fibre (1) Contl Insur (3.40) Contl Motor Contl Oil of Del. Contl Shares (1). 72“ CoflPr Ref ('l")u 9% Coty Ine. - Cr of Wheat (12%) Crosley Radio Crown Cork (£2.40) Crown C&S pf(2. 70). Crucible Steel (k5).. Cuban-Amer Cud Curtis Publish (7). Curtis Publish pf (7) Curtiss Wright Corp Curtiss Wr Corp A.. Cutler-Ham (3%)... Davison Chemical. DOIA'I“& Hud (9). OO =3 e 00 1 09 09 09 50 B Dia Match ctfs Dom Stores (31.30). Duques Lt 18t pf (5). Drug eemrn MI « 88 Duproll lN t'l 10) 16 East Roll Mill (ht2). Bastman Kodak (13) Bitington-Schild pf. s 2. - ZuBnala Bl Pu-l!:tpl 1 Storage Bat (l)... Elk Horn Coal. . Emporium Cap (1).. 10 ronZaa®earn Bvans Auto Loading. Exchange Buf (1% ).100s Fairbanks Morse (1) T Fashion ParkAs pf. .150s Fed Lt & Tr (31%).. Fed Motor Tr (80¢) Federal Screw (3) Fed Wat Svc A 2.40 Federated Dept 8¢ Fid Ph Fire In (2.60) restone T& R (1). st T & R pf (8 First Nat Strs (3%). Fisk Rubber. Fisk Rubber 1st D!. 24008 Fisk Rub 1st pf cv.. 100s Florsheim Shpf (§). 2 Follansbe Bros (1).. 2 Foster Wheeler (2).. 38 Foundation Co 3 Fourth Natl Invest. 5 Fox Film (A) (4)... 286 Frank Simon pf (7). 120s Freeport Tex (t5)... 15 Fuller pr pf (17.94). 30s Gabriel Co (A). cawanSwnmn 3 108 5 Gen Am Inv pf (6).. Gen Am Tk ?'-I)‘ @e 12 8!2 Gen Food Corp (3)... 91 Gen Gas&E! A(e30c) 10 GenG&Elevpf (6). 1 Motors (13.30).. 398 Motors pf (5) 6 Outdoor Adv. Gen Out Adv (A) (4) Gen Pub Serv (b6).. Gen Signal (5) Gen ity & Otil Gen R & Ut pf ( Gen Refraet (t4%). Gen ’I’ho-!l o Eau:p Co Gobel (Adolf). .. Gold Dust (234).. Gold Dust pf (6) Gold & Stock Te! Goodrich (B F) Goodyear Tire Goodyear 1st pf Gotham Silk Hodm Granby Consol (2).. Grand Stlver 8 (m1) Grand Union. .. Grand Union pf 0S PACAT N0 N OE om0 Gulf Mobile & North. Gulf Mob & N f (6). Gulf States Steel. Hahn Dept Stores Hahn Dept 8 of (6%) Hall (WF) PrCo Hanne of tnews (1), 10 Har Wk Ref (123) Hartman Corp (B).. Havana Elec Ry Hayes Body Hershey Choo (8)-+n Hersh Choe pf (15). Hoe (R) & Co. . Holland Fur (et2%). Household Fin pf (4) Houston Ofl (b10%). Houston Ofl (new).. Howe Sound (14%). Hud&Man Ry (3.50). Hudson Motors (3) Hupp Motors. fllinots Central (1) Independ O & G (2) Indian Refining. Indus Rayon (4). Ingersoll Rand (16). (nland Steel (4) @ = voBuSulruaatnlal areme Ins ctfs (Md) (80c) Interboro Rap o Interlake Iron (1)... Intl Bus Mach (n§) Intl Carriers (25¢).. [nt] Cement (4).. Intl Combustion. Intl Harvester (2% ) Int Harvester pf (7). Intl Hydro El A (e2) Intl Paper pf (7) Intl Pap & P of (7) Intl Pflnll Ink (2%) Intl Rys Cent Amer. 11 Int Rys Cen A pf (5). 1008 Intl Salt (3). Int Shoe (3) Intl Tel & Tel Inter Dept Strs (2). Int Dpt St pt xw (7. IntertypeCorp (3). Investors Equity (3 Johns-Manville (3).. 22 Jones&Laugh of (7).120s Jordan Motor Car. 5 KC P&L Tst pf B (6). 208 ity Sou (! 1 't Oll m fllubl ). % | the best showing In. the | market at 1 per cent, with demand neg- STOCKS IRREGULAR INFIRMER MARKET their previous minimum quo- Fox Film and Loew's again were sin- gled out for selling in the amusements, 9% Copper and Motor Issues fe former breaking more than 3 points and the latter over 3 polnu esting- house Electric proved to be one of the industrials. Eastman . Take Leadership on Upside. BY GEORGE T. HUGHES. Special Dispatch to The Star., NEW YORK, November 13.—Ad- e riomsons || ARGE SOUTHERN BANKS 3 .W. In the ARRANGE FOR MERGER in recent sessions was | By the Associated Press. NASHVILLE, Tenn., November 13.— The two classes of stocks which made | The Fourth and First National Bank early trading | of Nashville and the American Ntflm- were the coppers and the motors. The |al Bank of Nashville, two ot the I advance in the former was led by Ken- |est financial institutions in th necott and Anaconda, particularly the former, and was based not only on success of the agreement to restrict production, but on the prospect of an- other rise in the price of copper metal on top of Wednesday's marking up of [ Co., the trust companies of the respec- the quolllhn from 9% to 10 cents & |tive banks. pound. . The copper stocks have been| The committees appolnted to work thoroughly deflated and so were in a|oufy details recommended that position to respond to favorable news. |name of the American National Bank ‘The improvement in the motors was |of Nashville be retained. not so pronounced, but it was still sui- ( P, D. Houston, chairman of the board clent to attract attention. General|of the American National Bank, be- Motors was the leader and it Was|comes chairman of the board of the bought on better appreciation of the | new institution, and Paul M. Davis be- significance of the statement by Pres- dent Mr. Davis ident Sloan as to u:etme and d.mdend intr\m COTTON SEAT SOLD. NEW YORK, November 13 Ufl—m second membership of sold for $19,000, an increase of $500 over the previous sale. I Money on Hand to Loan on First Deed of Trust 6% Interest Reasonable Commission and JAMES F. SHEA 643 Louisiana Ave. N.W. accepted as permanent. 'fl?a rails lp:l whole did not hold as 'ell as the industrials. Some of the riced issues, on the contrary, were decl ledly ong them Erie and take a series of increases in car load- gy ey before confidence will be restored Money to Loan 1n‘t‘he railroad stocks. Secured by first of trust on real estate. deed Preyailing_inf 1d_co -h-lu, 11 money renewed at 2 per cent, but W rust fuods mere obiainable. o the outside Jnlepll Wo ler ‘Biac. bib & § N'W. ligible. REAL ESTATE LOANS e oo o Made at Low Interest Rates Stocks, after opening l\l(h(.ly higher, e TYI.ER & RUTHERFORD eased as the session ot ll rl‘ll. mfln‘ i slight decnue 1 mO ;Luffl‘. the first half hour = 1520 K St. N.W. - National 0475 were usm shares, against 427,700 in the same Wadnmhy penod. Call money renewed at 2 per The aomewhst lo(ur tone of such Apartment House MANAGEMENT JUST think of the advantage of relegating the details of management of your apart- ment house properties, with all their many and varying prob- lems, to our experienced serv- ice—relieving yourself of all worry and benzfiting in the economies which will add to the income. Our service charges are “ merely nominal. B. F. SAUL CO. 925 15th St. N.W. Nat'l 2100 Pushing the Mountains N ENTIRE mountain range—the great A Sierra region of California—is being pushed higher into the air by the weight of solid rocks underneath the Pacific Ocean...Scientists ‘with minutely ad- Jjusted instruments have proven this remark- able fact in studies of recent earth tremors. Outside forces will change what appears to be the most solid structure in the life of a man as in the life of a mountain range. But man can always prepare for change—he can always have & sure resource in case of upset to his plans, or sudden stoppage of his earning power. That is why wise investors in Washington set aside a certain portion of their salary for in- vestment in a sound security whose safety has been PROVEN—a security such as the 6% First Mortgage Notes sold through the Swartzell, Rheem & Hensey Co. Through all the wide financial fluctuations since 1869, these Notes have always pald every investor @ handsome interest return—each payment on the date it is due. During all THAT time the value of the original investment has never wavered a penny. SWARTZELL, RHEEM & HENSEY CO. MORTGAGE BANKERS 727 15 STREET u.w./ WASHINGTON D.Co George A. Gar- () m in the New York Cotton Exchange ADVERTISING SALESMAN wanted by manufacturer of FUEL OIL Immediate Delivery in Metered Trucks, Includi Nearby Virginia and yland No. 1 Furnace Ol 38-40, 8 "Tn'\-u-:'i‘-_]%r g laude Neon Sigllsl No. 2 Heating Oil 28-32, 73 and electrical displays| Apply 217 Colorado Bldg. Tank Car m:-.?v m g:u- Fuel OB ' THOS. J. CROWELL 102 New York Ave. N.E. Phone: North 1101 First Mortgage Loans On improved Rea! Estate in the District of Columbia and nearby Maryland and Virginia for 3, § or 10 Apartment year terms on your %% Office Building Business Property RANDALL H. HIAGNER & COMPANY MORTGAGE LOAN CORRESPONDENT New York Life Insurance Company 1321 Connecticut Ave. Auchincloss, Parker and Rcdpath Incorporated Investment Securities National Savings and Trust Building Washington, D. 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