Evening Star Newspaper, November 30, 1930, Page 80

FINANCIAL INNARROW RANGE - Market Lacks Trend at Short Session—U. S. Issues Steady. BY DONALD C. BOLLES, Associated Press Financlal Writer. NEW YORK, November 20.—Price movem:nt in the bond market today wps of a familiar pattern. In & turn- over that was normal for recent week end sessions bonds fluctuated uncer- tainly to confuse the trend. i Fluctuations in the railroad section | ‘were narrower, but the s recessions yesterday attracted little and | active issues were lrregularl{l‘ wer. Atchison 4s, Chesapeake & Ohio 4%s, Erie 5s of 1967, Pennsylvania 'enernl‘ 4%is, and Union Pacific first 4s were among the prominent issues that lost large fractions. Atchison 4lgs, a con- vertible issue, sagged 3 points on the movement to 114, a new yeai’s low, and Baltimore & Ohio 4lzs also were at a new 1930 minimum. ‘The tone of utilities was somewhat improved. Amcrican Telephone 5s of 1960, Western Union 5s of 1960 and North American Edison 5s maintained an upward trend. Duquesne Light 4138 and International Hydro Electric 6s were soft. Industrials were dull and high-grade issues in the group varied only fractionally. Dealings in United States Govern- ments were small and were principally confined to Liberty issues, which sold around their previous close. Foreign obligations moved quietly and were steady to firm. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, November 29.—The fol- lowing is today’s summary of important corporation news prepared by Standard Statistics Company, Inc., New York, for the Associated Press. News Trend. ‘With the majority of important Octo- ber railroad earnings statements now nmd!hit is evident the results for the month will be poorer than expected. Net. ofimnnc income of 68 roads shows & decline of 27.3 per cent from a year , Whereas, in September shrinkage r cent. However, decline ler than the 30 per cent average contraction for the earlier months of 1930. Dividend omissions were announced during the past week by Otis Steel and Crown Zellerbach. Standard Cep & Beal declared an extra dividend of 50 cents, while & year ago extra payment s Spo0s, only Ohicaso. Great West- y Chicago Gre: em Rallroad shows higher share re- turns than in 1929. This week's bank clearings continued st the levels of recent periods. Ex- changes at principal cities were off 39.9 cent from last yeay, with New York | g:y‘n reduction 41.9 per cent and other points 33.1 per cent. Commercial in- solvencies for the week numbered 461, contrasted with 371 in the 1929 period. The Industries. Chemicals—Domestic chemical indus- continues to response 10 inability of tanners to continue %o ab- sorb supplies at rate undertaken earlier in 1930. Leath'r stocks continue to mount, moreover, suggesting mprobe- bility of any suctaired advaice in hide quotations during early future. The more distant future prospects for tan-| ners is also un.\l!\prss\;:,meln view of | 330, Standard Oil of New Jersey, New York, Indiana, Cali- fornia, Ohio and Vacuum. ‘Buffalo, Rochester & Pittsburgh Rail- | way October net operating income off | 1.2 per cent; 10 months, off 26.6 per cent; preferred share earnings, 9 months to September 30, $3.41 aga! $5.05. Candian Pacific Raflway October net ' operating income off 10.3 per cent; 10 months, off 18 per cent. Chicago, Great Western Rallroad, $4 | preferred share earnings; 10 months to October 31, $5.91, against $12.02. { Chicago, St. Paul, Minneapolls & Omaha Rallway, October net operating income off 79.4 per cent; 10 months, off 365 per cent. | Consolidated Fi{lm Industries, new B-year contract with United Artists. Crosley Radio introduces new receiv- ing set at $37.50. Crown Zellerbach omits dividend on comm] on sw:kz vo!il‘,gB trust certificates; | ast paymen! 5X¥ven 3 Delaware & Hudson Co. October net operating income off 288 per cent; 10 months off 27.4 per cent 102. 98.26 Lib334s 1932 47 103.2 100.10 Lib 1st 438 193: 103.27 100.28 Lib 4th 4% 8 193; 102.12 98.30 US 3%s 1940-43 10226 991 U 47 107. 108, 109.4 105.16 113.14 109.24 ilu 99 111% 107% Belglum 84 i 106% 8814 102% 109 Czechoslovakia 8s'51. 99% Denmark 6%s 1955 108% Denmark fs '42. . 101% Dutch East Indies 101’ Dutch East Indie: 79% Fiat 75 46 war. 9214 Finland is 60. 1124 French 7s'49 118 French 7%s’41.. 68 Ger Gov 51 '65 wi 77 German Bank 68 19 100% German 7s ‘49 80" Greek 651968 96 92% Italy 7s 1011 Japanese 6%s ‘64. . . 90% Kreug&Toll 68 ct wi‘69.. 78% Milan 6%s8°52. .. 108 Netherlands 68 *73. 101% 101 106% 103% 103'% 107 101% 121 126 1Y% 94 109% 88% 108% 101 105% 100% 108 84 86% Orlent Dev 63%s '57 102 Paris-Lyons-Med 6. 9914 Paris Ovleans 6% 34% Rio Grande Do 78% Rome 6148 62 68 Sao Paulo Sta 106% Seine Dept of 76 Serbs.Croats&Slav’ 813 Serbs Croats Slov 8. Swiss 6% Toho Elec Pwr 7856 Utd Kingdom 5%s '37. Uruguay 6s 196! Vienna 6s 1952. Warsaw 78 1968... Yokoham! MISCELLANEOUS. Abram & Straus 6%s'43. . Am Chain s 1933 Am 1 G Chm 5%s 194 Am Internation 6% Am Natural G 6% ‘4., Atlantic Ref deb 683 Bell Tel (Pa) ref bs Beth Steel pm b8 102% 9% 31% £8Y 44% 98%, 83 89% 96% Duquesne 4%s 196’ 87% East Cuba Bug 7%s'37... 94% General Cable 535 1947.. 7. 82% Goodyear Rub bs 1957.... 101% Humble O & R 6% 32 89% Int Tel&Tel cv 4%s 93% Kan Gas & Elec 4145 80. . %s'48 ( 84 Lorillard §%s "37 25 ManatiBugsfT%s’42 99% Midvale Steel 58 i 100 Montana Power 58 1943 95 Nat Dairy Prod 5s 48 4 NatR 103% New Enz 111% N Y Ee 98% N Y Tel 4% 106% N Y Tel 6; 99 North Amer Bd 88% Reming-Rand %8s 100 Sinclair Oll 78°37... 97 Sinclatr Crude O11 6% 94'% Sinclair Pipe Line 6842, . 103 Southwes Rell o84, . 100% Stand Ofl N J §s. . 95 nd Ol N Y ¢ % 26 gar Est Orlente b8 96% Tennessee Cop) 97 Transcon OR 6% 101 924 United Drug 6s'53. 110% 100% 102% . 95% 120% 126% 4% 101 THE SUNDAY STAR, WASHINGLO. Net Low. Close. Chge. 101.20 101.27 +.5 102.30 102.80 -.1 103.24 108.24 10212 102,12 102.22 102.26 106.30 106.30 108.28 108.81 +.1 1138 1188 -4 Chae. +2u + % 92% 94l 101% 101% 108% 108Y% 106% 106% 80% 80% 30% 33 63 63 99 991 109% 110% 100% 100% 105 106% 1027 102% 102% 108 83% R4 94% 95 120 120 126% 125% 68% Tl % 81 100% 100% 83U 84% 102% 102% 9% e 108 1034 90% 93 8% 80 104% 104% e ++ 9 FE i S‘fi#*l’? LR L4140 i 104% 1047 102 102 48% 46 49 844 83% 90% 89 80 79 484 80 89! 9% 107 1074 9% 80% 89% 90 1047 104% 94 943 105% 105% 80% 814 B 56% 95% + 1 84% 56% 96% 97 79 108% 104 100 100 97% 98 90% 90% FE 43 43 101'% 101% 103% 103% 137% 138 105% 105% 20 20 80% 81 101% 101% 106 106 101% 102% 31% 32 80l X9y 44n dan 99% 100% 93 95% 105% 321 2% 106% 107% 87 87 102% 102% 2 6 9% 4% 102% 102% 100% 101% 88% 88% 102% 102% 94y 94y YT 98 - (R A FFrns " asr s PRl 2y wrfes 44 + 10 - 93% 938% 60k 61% 102 102 103 103% 104% 104% 31 31w 100% 101 1031 108% 98% ‘9 145 14 107 10Th 1181 113% 101% 102 106% 106% 101 101 62% 90 90% 100 100% % 101% 101% 99% 100 105% 105% 108% 103% AR +1 FEE FEEF FF | ® 96% 100% 87% 91% 118% 90 96% 9% 98% 1023 100% 100 108% U 8 Rubber 18t & ref b, Utah Power & Light b Utilities P & L 5%8°47. Walworth s ‘45 Western Union Wilson & Co 1st Youngstown Ste RAILROAD. Atch T & S Fead) 4s'95. . F B & O ref 58 '95. B & O ref 58 D 2000. Balto & Ohio 65 '96. B&OS W Div b Brooklyn Manh 1st Canada National ¢ Can Nat July 6s '6 Canadian Pacific deb 4 Centra: Pacific 48 '49. Central Pacific 53 1960 ChiB& Q4%sB'17 Chi B & Qref 55'71 Ch & East 111 gen 58 '61.. Chi Union Station Chi & West Ind 5%s CCC&StLI{4%sE CCC&StLBsD 5 Colo & Sou ref 4%s '35 Cuba R R b8 '52. Cuba North b%s Del & Hudson 548 Den & Rio Grande Den & R G Wi Den & R G West Detroit United 4 %s '32 Erle 1st con 48 "9 Erie gen lien 48 Erfe ref 53 '67. Flor East Coast 68 '74. FondaJ &G 4%s 62 Grand Trunk s f deb Grand Trunk 7s '40 Great North 4%s ‘76 Great Nor gen 5%s '52 Great North gen 7s ‘36 Havana Elec Ry §%s Inter Rapid T} Inter Rap Tr b Inter Rap!d Tran 6i . Inter Rapid Tran cv 7s. Inter Gt Nor adj Ihter Ry Cent A Iowa Central 4s '51. Kan City South 3s 1950 Kan City South 58 '50. Kan City Ter 1st 4s°60. Lake Shoreds '31 Lehigh Val cn 4s Louls & Nash uni és Market St Ry 7s A "40. Mil El R & L 1st ref bs. Minn & St L ref 4s MStP&SSMeY Mo Kan & Tex 1st Mo Kan & Tex adj 68 '67.. Mo Kan & Tex prIn 6sA. Mo Pacific gen 4s ‘75 Mo Pacific 5s Mo Pacific 55 I Mo Pacific 68 G Nassau Elec 45 Norfolk & W cn 4s'96. North Pacific 3s 2047 North Pacific 4s '97. North Pacific 58 D 2047. North Pacific r 1 6s 2047. Ore Wash 1st ref 4s°61. Penna cn 43%8 1960 Penn gen ¢ %865, St L Iron Mt gen 58’31 SLIM&SR&G4s'33. StL &8 F prin4s A 50. StL&SF 43T St L & San Fr 58 B '50. St Louts S W con 48 '32.. StPKCS Line 4%s 41.. Seaboard A Liref 4s8'59... Seaboard A L ad) Gs49.. Seaboard A L con 6 South Pacific col Third Ave adj Union Pacific 1i Union Pacific 4 Un Pacific ref ¢s 2008. Virginia Ry 1st 68 '62... 99% Va Ry & Power bs '34. Wabash 4%s 1978, Wabash 1st 68'39. Wabash 6s B 197, West Maryland 4s 53, West Maryland 5%s '77. Western Pacific bs *4 NEW YORK BANK STOCKS NEW YORK, November 29 (#).—Clos- ing bid and asked prices on stocks of | i leading New York national banks and trust companies follows: National Banks. Bank of America. Chase Ny Co. National City Trast Companies. Benkers ... 0 Central Hanos Sorn Exchange cal . Fving Manufactirers New York . A CONSERVATIVE INVESTMENT THAT PAYS LIBERALLY A conservative investment doesn’t mean meager returns, as is evidenced by our 1+ hl"-* | U T P5 F FREP FEFF TEFF | = 5 SRERERFLS 55D L++400 1 Co# 7 (Continued From Second -l" BI. Stoek and dividend. 1% % Submarine Boat.. 70 47% Sun Oll (11). 108% 1024 Sun O1l pf (8). 45% 80 Superheater (133) 9% 1% Superior Oll. . 29% 6 Superior Ste .. 16% Sweets Coof Am (1). 1% Symington Class A. 26% Telautograph (t1 40) 17 Tennessee Corp (1) 60% Texas Corp (3).. Texas Gulf Sulphur (4). Texas & Pacifle (5) Texas Pacific C & Of1. Texas Pac Land Trus Thatcher M The Fair (2. The Fair of (7). Thermoid Co. Third Agenue. ... Third Natl Inv (a2) Thompson (J R) (8). Thompson Prod 12.40).. ‘Thompson Starrett Co. . 6) Det Axle (80c). Timken Roller Bg (3).. Tobacco Products. . Tobaceo Prod (A) (195¢). Transamerica Corp (1). Transue & Willlams (1). Tri-Continentl Corp.... Tri-Con Corp pf (6).... Trieo Products (23)... Truax-Tra Coal (1.60).. Truscon Stl (g1.20). ... Twin City Rap Tr (§4).. ‘Twin City Rap Tr pf(7). Glen & Co (1.60) Unfon Oil, Calif (32). Union Pacific (10) Unfon Pacifie pf ( . Union Tank Car (1.60).. United Afreraft. . United Afreraft pf UnitedBiscuit (2) Utd Carbon (2). United Cigar St United Cigar of United Fruit (4). Utd Gas & Improv Utd Plece Dye Wks (2 United Stores A. . United Stores pf (2% U 8 Distributing. . U 8 Distributing pf US& F bt SPIps&Fdy (3)..... ed Lew. % % Page.) 4. tEeh it T+t 4 +i44 % % x27% 101%x101% 23% 24 sReresF5T 6% T 35% x424 9 1] 50 L+ - 164% “ W % 1% » L o 1 14 g Univ Pipe & Rad Utll Pwr &Lt A ( Warner Bros Plet. Warner Bros pf (3. Warner Quinlan. Warren Bros (3) West Penn Power pf(17). Western Dairy A W Weston Eleo Inst (1),.. Weston lloé':l Wilsen & Co pf. Woolworth Co Wrigley Wm (4). & Towne (2) . low Truck & Coach. . Yellow Tr & Coach pt 19 Young Spring (3) 2% Zenith Radlo. . o Lt 25 57 1 in Power pf($). M(5) Rhse E&M pf (5) sxsazerss PEFcssess® fEE LN ann ERE 40-POINT STOCK ADVANCE FORECAST BY MIDYEAR ‘The year 1931 promises to be a year of gradual business improvement, with spotty and irregular recovery in the half, and more sustained business "ul:lulm v.het Fall, :cgrdlng to the an- i orecast repor ued by the U, Business Service of Boston. y o Profits in 1931 should be 10 per cent to 12 per cent better than this year. Inventory losses will not be so serious among industrial companies, and pub- lic utilities are likely to show better than average results. Bond prices may be expected to rise rather consistently throughout most of 1931, with medium grade issues regis- tering a somewhat greater degree of ad- vance than high-grade issues. Stock market averages are likely to advance to a point 30 per cent to 40 LU S Sk e e Y e | year, an probably April, 1930, highs by ml the . Earnings good ylelds are likely to count for more than former popularity, el {PUT AND CALL RATES INDICATE TRADERS’ MART By the Associated Press. NEW YORK, November 39.—Brokers who make & business of dealing in mar- ket privileges, more readily known per- haps as “puts and calls,” are generally looked upon as the shrewdest judges of the market’s position. The fact of the matter is simply that they must be ex- ceptionally capable of judging the im. mediate prospects if their business is to be profitable. And judging from the rates quoted on a number of stocks just now it would seem® that trading market over the next month or 0. At any rate “puts and calls” are uoted about the same distance away the current market on 30-day privileges. American Can calls are quoted 10 points above and puts 12 points under the market. Consolidated Gas is ew mfi both ways, General El e § its on either side and Radio 4 points on either end. Puts on Steel are quoted 10 points down and calls 8 points up. PRI Vil MORE STOCKHOLDERS. NEW YORK, November 20 (Special). | —Stockholders of Studebaker Corpora- tion increased approximately 33 per cent during the year ended November 10 to a total of 30,021, as compared with 22,512 on November 9, 1929, a gain of 7,509, according to reports from com- pany officlals. y P2 es" Prsssx 52 3% In Arlington County and Commonwealth Investment wd Inc., 208 15th St. N.W. Mm‘m‘: M-ntc- Loan Correspon The Prudential Insurance Co. First Mortgage Loan Applications Invited at 5)5% Glover & Flather 1508 H St. N.W. National 1753 BETTER USED CARS We Never Offer Any Used Cars but “Better Used Cars” MOTT MOTORS, Inc. 1520 14th St. N.W. Fidelity Building & Loan Association Under Supervision of U. §. Treasury Department Is 7% Paying ON SAVINGS If you save $10 per montl for 133 months — it wi amount to $2,000 if com- pounded semi-annually at 7%. Fidelity Bldg. & Loan Assn. National Press Bldg. - Washington, D. C. Name Address FINANCIAL INDEPENDENCE ASSURED It is now possible for the executive, the salaried employee and the small investor to obtain the maximum return on his capital consistent with sound investment principles. It is possible to acquire, systematically, over a period of years, INDEPENDENCE FUND participations, representing a steadily increasing interest in the same securities that have been bought in large quantities by some of the most discriminating investors. It is further possible to insure the completion of this investment program. The result is Financial Independence. On the basis of performance in the past 10 years ¢;f the underlying securities $1.00 PER DAY ($30.00 per month) invested in Independ- ence Fund would mature at the end of 120 months in L R R R e If the above sum s permitted to remain In the fund and the $30 monthly payments continued, your estate at the end of the second period of 120 months would amount to . Similarly, at the end of the third period, or 30 years from today, your estate would amount to........... This estate of $123,000, left intact and invested in the same securities that created it, should, based on the yield of these securities for the past ten years, give you and your heirs an average annual income of. ... $7,881 $34,658 $123,000 - $15,000 You Should Share in America’s Growth and Establish Your Financial Independence Never before has it been possible to pay as little as one dollar per day into a Fund and obtain an interest in 28 of the world’s greatest corporations having combined assets of $23,000,000,000 and have your goal of Independence protected by life insurance while the returns on your investment are being compounded semi-annually for a period of 120 months. The Fund consists of North American Trust Shares which are deposited with €mpire Trust €o., New Vork, Trustee Here Are the Common Stocks in Which Yow Share American Telephone and Telegraph Comj Consolidated Gas Company of New York ‘The Western Union Tel h Company American Radiator & Si Sanitary Corpr ‘The American Tobacco Company (Class B) duPont (E. 1) de Nemours & Esstman Kodak Company of New Jersey tric Company Ingersoll-Rand Company National Biscuit Company Otis Elevator Company United Fruit Company United States Steel Corporation The Atchison, Topeka and Santa Fe Rallway Company ‘Westinghouse Electric & Manufacturing Co. Standard Ol y of New York Dutch Company (New York Shares) ' Standard Oil Company of California Standard Oil Company (New Jersey) ‘Woolworth (F. W.) Company Canadian ific Rallway Company Tlinols Cen! Louisville & Nashville Railroad ‘The New York Central Railroad ‘The Pennsylvania Railroad Company Southern mw %:on S ion Texas Denver & Rio Grande Western Rail- = . road preferred share earnings; 10 BALTIMORE STOCKS. months to October 31, $2.74, against . . niooaven to The Star. BALTI $13.76. N Goodrich B. P. Co. plans Miami fac- MORE, November 29. ch. o ‘gmeu ;rh &‘ R. ;;l'-nnw capacity after turn of year. ”“fl“, Mobfle & Northern Railroad net operating income off 58 per cent: 10 months off 57.9’per cent. Hollinger Consolidated Gold Mines 10 months' output exceeded $0.250,000; sur- | plus of over $500.000 expected at end of year, after idvidends. H inols Central Raflroad October net operating income up 1.4 per cent; 10, months off 18.5 T cent. . = S— 1] Eunr referred placed on ly dividend Euh: formerly pald Otis Steel omits common dividend; semi-annually. last payment 621 cents. Kelsey-! ‘Wheel to move Buffalo| Pittsburgh & Lake Erle Railroad Oc- plant to it. tober net operating income off 9.7 per -Owens-Ford Glass reported | cent; 10 months off 7.3 per cent. : bringing about new Belgian & West Virginia gccnm "Pacific Railroad sha R o ire earn- . L34, ) ¥ Bcaboard. .21, Air Line Railway October net operating income off 14.5 per cent; 10 _months off 44.4 per cent. ‘Monsan Standard Cap & Seal declares ex cash dividend to for dis-| dividend of 50 cents; con! Trico Products tinuance of N Nashville, Chattanooga & St. Louis| operated horn. Rallway October met operating Western Pacific Railroad October oOff 64.1 per cent; 10 months off 54.61operating income up 51 per cent; per 5 e D o - B e e wi| Experienced Advertisers Prefer TheStar 6% FIRST MORTGAGES Over a Third of a They represent conservative investment because they are so safely secured by improved real estate; vet they pay this liberal interest continuously. Century Without a o Guaranty. Lost y.and Dairy pi BONDS. 1000 United Rwy & Elec 1st 4s. 85 Weatern Ma May be purchased in amounts from $250 up. a. . SAUL CO. National 2100 925 15th St. NW. All these stocks are listed on the New York Stock Exchange Perot, Adair & Co. INCORPORATED SHOREHAM BUILDING e 400 PIFTEEN STREET NORTHWEST — = = = = e e o oo oo e e s Mail This Coupon for Further Information Name ...oooiiinvinenicasnsnsananacnnane... Business Address.., FOR SAF Home Address. . vovTelephone net 10 B LT LT TP PRSPPI /7773