Evening Star Newspaper, November 21, 1930, Page 13

FINANCIAL. FINANCIAL. WHITE APPONTED || ™EW YORK STOCK EXCHANGE CONVENTION AIDE \.\IT l Pittsfield, Mass Q) AShl‘lr‘l.fianmPficy # Business and Profo. ssional Men Details on Request ISTOCKS MAINTAIN | ADVANCING: TREND REAL ESTATE LOANS - Made at Low Interest Rates TYLER & RUTHERFORD Note—All stocks are sold in one hundred-share lots B Stock and Bales— cmlnz those designated by the letter s (80s) (2508) igh. 3 Dividend Rate 00. High. shows those stocks to be sold in odd lots only. 284% Diamond Match (8). 2 211 ld-d-chmkm.fldhllomhlndmfl. Dia Match ctfs (8).. :nm —Prev 1930~ Stockand Bales— 1 Close. Close. 211% 218 218% 212% 18% 14 was an early fea- » Named Vice Chairman for Annual Bankers’ Meeting. October Phone Net Higher. High 4 BY EDWARD C. STONE. Appointment of J. Frank White, cash- | fer of the National Bank of Washington, @s vice chairman of the 1931 General Oonvention Committee, was announced Mly by President Lanier P. McLachlen the District Bankers' Association. Mr. wmu has served the association in changed of Wash- ington in 1885. He lthded the publlc schools in this city and gra Ovuue Starting ‘t the bot- the hsnk!n. ladder, he worked his m ldli until reaching his palmun, ich he has held for m-ny years. His activities' with the District Bank- ers’ Association include membership on the Hotel Oommmgg in 1924 and 1925, on Comm! ¥ "“‘ vlct chairman of the Transporta- | tion Committee in 1929 and vice chair-' man of the Entertainment Committee and mzr oof the Transportation ‘hur wmuturved e mecmber gt e important Comm! on Commer- clal Trade Activities for four years, l”!—! _to 1928-9. For two years he was vice president of the District of Co-| lumbia of the national bank section of Bankers' Association. For two years he has served as a of the local association’s Pro- tective Committee and also as a member of the Credit Bureau Committee. He, has also served on several special com-i m Phone Earnings Higher. rating income of the | ‘Telephone Co. | 10 Inonthl en October 31 decnue 614 us lrom | t_year, me med with the Pubnc Oomml-lon of the District for vu fi‘ ing income for Oc- tober was (umm«mt $121,764 in October, 1929. Telephone operating revenues for the month of October were $750,980, with expenses of $512,324. Op- | income, after deducting taxes and uncollectable, au $180,689. . m] Telephone operating revenues OI' 10 months ending October 31 S0, i e o ae ting income after deduct- ing taxes and uncouecuble n.uu 326. ‘Taxes for October amounted to $53,: 2!0 originating telephone calls e made during the mnm. Bond Chll lhrh Mvflh nonqdln w-m Mour notices” stating that Tun ":menh.n“a’vfi Till bp Beld Tuesdsy, N the Carl Dr. Harold Gl almllt&l:‘. esident of Brookings Institution ormer pro- lemr of economics at the University of Chicago, is to be the speaker at this luncm Dr. Moulton is the author of volumes on economic and fln-nehl lub]ecnt(a \ncludinc “Financial ferred came out at 110 cent issue sold at 107. preferred recorded peake & were $12,- the of $1,695,176 over al‘ Yo Chesapeake & Ohio Rallwa shows gross revenues of $116,136, Ml Opfl'lunl a decrease of $10,186,486. operating in- a decrease of is $28,851,634, a decrease of $1514,852 compared with corresponding period of | 1929. The operating ratio for the period is 635 per cent, a decrease of 1.7 per cent as compared with same period & year ago. Gleaned in Financlal District. ‘The Standard Forms Committee of the District Bankers’ Association a very interesting session mdu aft- Chairman Thomas Groom | 95 Membership of the committee to aid tion to prevent fraud ! promo or the sale of securi- was announced yes- | y the temporary chairman, ‘ mm, :hnlm‘n of the board of the Security lnlnn The committee includes Paul V. ' o( the !nmunm' Bankers' As- H. Lawson, represent- ; Louis Roths- meeting of stockholders rley L. Clarke and directors in lflu 15 1% 12% Dividend Rate. Add 00. High lfl' Close Okll Abitibl Pow & Paper 17 1 11% Abitibl P & P of (§. 3 l’l Adams Exp (1. 12 Adams Exp pf =r'ph (1% Rumley.... Allis Chalmers (3).. Alpha Port Cmt (2).. Amerada Corp (2) Am Agricul Chem. Am Agri Chem ctf: 1 Am Br Shoe (2.40).. 1 Am Brown Bov Elec. & Am Brown B E pf ")1610- 05 A Can (16)....... 306 Am Car & Fdy (6). .. Am Car & Fdy of (T) Am Chath (3)....... Am Chicle (43). . Am Colortype (2.40). Am Com Alcohol. . Am European Secur. Am & For Power Am & For Pw of (6). Am & For Pow 34 pf. Am Hawallan (210). Am Home Pr (4.20).. Am Ice (14)... Am [nternati (2)...., Am Locomotive (4). Am Locomot pf (7).. Am Ma & Fy (+1.65). Am Power & Lt (r1). Am Pow & L1 uf () Am Rad&sta s.nu) Am Republics. . Am Safety Razor (6) Am Ship & Com. Am Sugar Ref pt(7). Am Sumatra Tob..,. Am Tel & Tel (9). Am Tobacco (5) Am Tobacco B (5)... Am Tobacco pf (8).. Am Water Wks (n1). Am Woolen pf.. Am Writ Paper ct Am Writg Paper pf.. Am Zinc Lead & Sm. Anaconda Cop (2%) Anchor Cap (2.40)... Andes Copper (1)... Archér-Dan-M (2). . Armour of Del pt (7) Armour of 111 (A)... Armour of 1ll (B). Armour of 11l pf (7). Arnold Constabl Asso Appl Ind (4)... Asso Diy G (23%). Asso DG 2d pf (T)... Ateh To & 8 Fe (10). Ateh To & 8 F pf (5). ‘Atl Coast Line (10).. ning (12).. tores (n1). Auburn Auto (§4). ‘Autosales. ... Auto Strap Saf R(3) Aviation Corp of Del 147 Blldwlnl“(l‘l- Baldwin Loco pf (7). 20s Balio & Ohto (7).... 18 Borden Co (k3. ) Borg Warner (3) Botany Con M (A) Briggs Mfg Co. . 16% Briggs & Strat (2 58% 12 5% 26% 106% 8% 34% 39% 18% 8 96 108% 20% 34 20% 200% 26% 8% 41 1% 1 v 6% 22% 6% 11 42% T 86 22% 20% 14% 36% ki 814 21% 59 99 8% 16% 26% 80 T 904 T 18% 62 35% kil 1% 3 17% 2 664 444 S-!.; - 8 = *Spypites- Bklyn-Man Tt (4)... Bruns-Balk-Col Bruns Ter & Ry Bucyruscv pf (2%). Byers lA -) BETI.L lBl Calumet & Arizona.. 21 Calumet & Hecla 4 Canada Dry G A ll). 20 Can Pac new (3%).. 17 Cannon Mills (1.60). 2 Capital Admin (A).. & Car Clin & O sta (5). 90s Case (J 1) (6). 189 Caterpillar Trul'l) 8 Cavan’gh-D pf (6%).100s Cent Agulrre As13%. 1 Cent RRof NJ (112) 1 Cerro de Pasco (4).. 6 Ches & Ohio (3%)... Chesapeake Corp (3) Chic & Alton ...... Chic & Alton pf. Chio Great Western. 11 Chicago Great Wn pt Chie M1l 8t P & Pac. Chie M1l St P& P pf. Chicago N W (4) Chie Pneu Tool Chic R1& P pf (6).. Chi YellowCab (3) Childs Co (2.40).. Chrysler Corp (1). City loe & F (k3.60). City Ice & F pf (6%) 208 City Store s 10 Col Fuel & Iron (1).. Colo & South (3) Co! Gi Columbian Carb (16) Comm Credit (2) . Com In Tr (g1 60) Com In T ev pt « Comwith & So (60c). 120 Comwlith & So pf «8) 7 Congoleum-. N-lrn. . 30 Congress Cig: Consol Cig pr pf l\. 220! Cons RR Cub pf Consol Textiie Container A (1, Contatner B Contl Baking Contl Baking B. Cont) Baking pf Contl Can 1214) { b i ¢ g Ay Packing 14). Curtis Publish pf (7) \urtiss wnnr Corp Wr Corp A.. auc-ln- 3%)... Dunhill Int (1). Duplan 811k (1) Du Pont de N (14.70) East Roll Mill (ht2). Bastman Kodak (18 Baton Axle & 8 (3 Eitington-Schild pf. Blec Auto Lite (8)., El Auto-Lite pf (7).. Electric Boat. El Pow & Lt (1) E) Pow & Lt of (8), €] Storage Bat (5).. Endicott-John pt (T) Eng Pub Serv (2.40). Faq flfflc Bldg (:l/.).. Erle RR int pf (4).. Eureka Vac Cleaner. Evans Auto Loading: Fairbanks Co pf. Fairbanks Morse (1) Fashion ParkAs pf. Fed Lt & Tr (11%). Federal Screw (3) Fed Wat Svc A 2.40. F1d Ph Fire In (2.60) Firest T & R pf (6 First Nat Strs (2%). Fisk Rubber........ Figk Rubber 1st pf.. Follansbe Bros (1).. Foster Wheeler (2) Foundation Co. .. Fourth Natl Invest. Fox Film (A) (4)... Freeport Tex (+5). .. Fuller 2d pf (17.40). Gabriel Co (A). Gamewell Co (§ % Gen Am Investors Gen Am Inv pf (8).. en Am T'k Car (34) Gen Asphalt (3) Gen Bronze. Gen Cable A Gen Cigar (4) Gen Electric (1.60). Gen Eleo spec (60c). Gen Food Corp (3).. Gen Gas&El A (e30c) Gen G & El cv pf (6). Gen Motors (13.30) Gen Motors pf (5). Gen Outdoor Adv. Gen Pub Serv (b6).. Gen Ry Signal (6)... Gen Ry Signal pf (6) Gen Realty & Util. .. Gen Refract (t4%). Gen Theatre Equip Gillette Saf Ras (4). Gillette Saf R pf (5). Gimbel Bros.. . Glidden Co (1.20) Glidden pr pf (7). Gobel (Adolf). . Gold Dust (2%) Goodrich (B F). Goodyear Tire (5)... Goodyear 1st nf (7). Gotham Silk Hou-n Graham-Paige. Granby Consol (2).. Grand Silv Strs(h1). Grand Unfon. .. Great Nor Ore(12%) Great Western Sugar Gr West Sug pf (7). Grigsby Grunow.... Gulf Mobile & North. Gulf Mob & N pf (6). Gulf States Steel. ... Hackensack W(1%). Hahn Dept Stores. . . Hall (WF) Pr Co (2) Hanna pf (new) (7) 120 Har Wk Ref (12% Hartman (A) (2). Hayes Body. . Helme (Geo H) (11). Hercules Mot (1.80). Hercules Pow pf (7). Hershey Choo (5)... Hersh Choo pf (15).. Holland Fur (et2%). Hollander Sons. . Houdallle Hershey. . Houston Ofl (b10%). Houston Ofl (new).. Howe Sound (t43%). Hud&Man Ry (3.50). Hudson Motors Hupp Motors. Ilinots Central (1) Independ O Intl Bus Mach (né. Intl Carriers (26c! Intl Cement (4) Int] Combustion. Intl Harve: Intl Hydro El A (e3) intl Mateh pf (4). Intl Mer Marine intl Nick of Can (1) Int] Paper & Pwr A. Investors Equity (3) Johns-Manville (3). 'll 8 18 n 1 240 20- . 480 70- 95 1 4 140 2 80s 12 15 108 10 4 1 1 2 8 4 s 14 Jones&Laugh of (7). lOOn Jordan Motor Car. KC P&L 18t pt B (8) 100- Kans City Sou (6)... Karstadt (R) (1.03). Kaufmann DS (1%) Kayser Julius (l\h. Kelly-Spring Tire. )l 1 3 Kelly-8pring 6% pt lZO- Kelsey Hayes (2). Kelvinator Co Kennecott Copper(3) Krun (88) Co Dept Stor: Kreug & Toll (1.60). Krog Gr & Bak (n1). Lambert Co (3)..... Lehigh Port Cmt (1) Leh Port Cem pf (7). 4 Lehixh Valley Coal. . Leh Val Coal pf (3).. Lehigh val (t4%).. Lehman Corp (3).... Lehn & Fink (3), Libbey O Ford Glass Lig & Myers B (16).. Liquid Carbonie u). 1 Loose-Wiles (12.90). Lorillard (P) Co.... Louisiana Ofl....... LouG & E (A) (II) Louls & Ni 1 Ludlum Steel Mac And & ¥ (12.85). McCall Corp (2%)... McKeespt T Pi16%) McKesson & Rob (1) McKes & R pf (3%). McLellan Stores. Mack Trucks (6). Macy & Co (nt3 Magma Copper Mandel Brothers. . ) Market Sells Off in Early Trading, but Later Turns Upward. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, November 21.—Stocks maintained a firm tone in today's mar- ket, despite the extent of the recent rise and despite continued professional pessimism. Trading was conducted at a slow and without the slightest sign of speculative excitemegt, but the activity was larger on the side of ad- vance than it was on the side of decline. First quotations today were fraction- ally lower, in continuation of the re- action in the last hour on Thursday. ‘There were no la losses, but for an hour or so the list looked decidedly | heavy. And yet in the first half hour only 242,900 shares changed hands, the lowest in three weeks. After this sell- ing had been absorbed, prices hardened and the advance was slowly and cau- tiously resumed. News that mllh'. have ‘been expe:ted to affect trading was scant The de- crease in brokers' loans, announced by the Federal Reserve nvemlrht. brought the total to another new low, but de- creases have been recorded now for eight consecutive weeks without at any time being an important factor in the market. Business developments were not especially encouraging, including, as they did, & decline in electric power production. The one decisive influence back of the rise was the increasing nervousness of an overextended short interest. Motor Stocks Popular. Motor stocks were still in fayor under the same leadership as on Thursday, Chrysler and General Motors. The mo- tor accessory group advanced sympa- thetically, with Electric Auto-Lite and Briggs prominent. Reports from motor plants in the Midwest told of stepping up of production and of large orders for new models. United States Steel after an early set- back pushed ahead and the same was true of General Electric, Westinghouse Electric, American Telephone & Tele- graph and American Can. The feature, however, was the interest taken in the low priced issues, many of which were active and strong._ Advances were made by Simmons Co., Remington-Rand, and Republic Iron & Steel and there was an erratic risz in American Brown Vo- veri preferred amounting, at one time to nearly 14 points. Short commitments in Air Reduction were taken in at higher prices, while the Aircraft stocks showed strength amounting to buoyancy. United Air- craft was the leader, with Bendix fol- lowing along. Copper stocks did not participate in the improvement. In fact, Calumet & producfibn had been curtailed between 14 and 15 per cent. The truth is that high price has disappointedly small. Railroad stocks also were slow to respond to the better feeling in the Street. Chicago Great Western pre- ferred was moderately higher, but Dela- ware & Hudson sold off. - Chesapeake & Ohio reported a sharp decline in Octo- ber gross, but an increase in net operat- ing income. | Another favorable develop- | ment was the declaration of the lar ferred dividend by Gulf, Mobl & jorthern. ' Opening Is Lower. ‘The market, following a lower open- tion to improve in ' spots, although there were hardly, enough gains to offset the initial losses. Slight improvement in commodity markets, the reduction in hrokeu loans, and the general tendency to in- ' terpret thmzs in a bu]luh 1ig! c were 3,50r 10 Year Loans On Improved Real Estate IN Nearby Montgomery County and the District of Columbia Lowest Interest Rates BOSSEMELPS | Loan Correspondent John Hancock Mutual Life Co. Insurance 1417 K St National 9300 and Steady Income Guaranty First Mortgage Notes and Bonds are recom- mended to investors because of their safety and steady yield. They are secured by first monfages on homes and essential business prop- erties universally regarded as among the highest type of mortgage collateral, and are further protected by our $3,800,000 resources. First Mortgage Loans REALESTATE CorPORATION Capital Resources, $3,800,000 24 JACKSON PLACE UP TO $300% On Our Liberal 20-Monthly-Repayment Plan No Endorsers Required A Strictly Dignified and Confidential Service Maryland Personal Bankers et “iamiees Sl Public Small Loan Co. Va, Phone giatipion oo it 2443 Betliesda Personal Benkers 6982 Wisconsin Ave, Betl d. Phone Wisconsin 4374 Under Supervision State Banking Dept. Arizona was sharply lower on news that :t demand for copper metal at the new B Rayon ture, ovemn' on & 7,300-share block at fractionally. SI%- a specialty, spurted to 56, up neuly 3 points, and then reacted to 54%. were heavy all throug led by chen- peake & Ohlo and 0. In the mine group, International Nickel and Kenne- cott were lower. North American was the most active utility, down fraction- ally. General Motors failed to hold its opening level. Ofls were firm, —— WALL STREET WORRYING OVER MARKET LETTERS Bpecial Dispatch to The Star. NEW YORK, November 21.—Wall Street enjoys nothing so much as wor- rying. One new cause for furrowed foreheads is a juest by the New York Stock Exchange mittee on Publicity for all leturs and circulars sent out by members. same request was sent out more than a year ago, but some of the younger firms didn't know that, and hence jumped to the conclusion that :::re was to be some “drive against the T8 The_ exchange's Committee on Pub- licity has noticed a marked fllllnl ofl in its market letter mail. Because reduced commissions, mailing lists hnve been revised so that they no longer are sent to persons not in this material world. m, of course, some houses do not know what to think about the mar- ket, and therefore they do not know what to say about it. Contrary to “bear rumors,” exchange never has edited market letters or circulars, as it receives them only after they are mailed out to pmspecnve customers, EXCHANGB SEA’f $231,000. NEW YORK, November 21 (4).—Ar- | rangements have been made for the sale of a New York Stock Excha: benhlp for $231,000, an increase of $5, 000 from the previous sal A conservative in- vestment banking house of established reputa- tion has an opening for an experienced sales- man with valuable con- tacts. For personal in- terview, apply by l-mr, giving full Mlt\l.llrl as to age and experience. Address Box 249-C MERGENTHALER LINOTYPE CO. ) N. ¥., November 13, 1930. DIVIDEND NO. 140. A pussterly dividend of 3180 u folhe, 756,900 shares of present outstanding no plr Yalue of Mergenthaler Lino- Gompany will be December 31, ?an o Tecord ms they business o First Mortgage Loans * e Commonwealth Investment Co., Inc., N.W. Pheme Ni nal Mm Corr b e L0 of A Money on Hand to Loan on ‘ First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W, F. T. Koons, General Agen! Union Trust Bldg. Nat. 1018 poarmen = and o !- l '1. M L 1520 K St. N.W. National 0478 An Aid to Home Buyers.. . . The Real Estate Loan Plan of the Metropolitan Life Insurance Company enables the prospecnve ]\ome owner to reach his goal with a minimum of ex- pense and worry. Thousands of people throughout the country have ldopted this plnn— because— Loans for Fifteen Years. Low Interest Rates. No Life Insurance Required. Reasonable Terms. Construction Loans in Any Amount Washington Bm'lding ‘ron%os District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company Loans made in the District of Columbia and mearby Marviand and Virginie FIRST Quer a Third of a Century Without a, Loss . e National 2100 THERE MORTGAGES YOU CAN FEEL SECURE when you make an investment in our 6% FIRST MORTGAGES —for this class of investment is one of the definite type—and al- though the return is exceedingly liberal, there is no element of uncertainty, either in interest or safety of principal. That's why they are so highly favored by conservative investors—never a loss in over a third of a century. May be purchased in aniounts from $250 up. Gk M Y SAUL CO. 925 15th. St. IS NO SUBSTITUTE FOR SAFETY ECENTLY, at Holland, New Jersey, the New Jersey Power & Light Company of the Associated Gas and Electric System placed in operation one of the This plant, known as the Gilbert Station, embodies several unique features. Its turbines operate at 1250 pounds steam pressure —which means greater fuel efficiency. It is the first to be conceived as an all high-pressure station operating under a vatiable load. It is as simple to operate as the usual low-pressure station. It is one of the few stations controlled from a single, centrally located switchboard. For the building h-gmth-llvnhdnboflmndlflnu&yu one floor. 7% t 10% Gain in Efficiency I’du,obhindfimopeninnnnduvaryh'hb up to full capacity, indicate that the plant represents a net gain of approximately 7% to 10% over the most efficient stations constructed five or six years ago. o bring to more of the wenience and efficiency through the use of electricity. To invest, or for information write Associated Gas and Electric System 61 Broadway Barving moss than 1,423,000 customees in 26 stams, the Philippine & New York City -~