Evening Star Newspaper, December 5, 1930, Page 13

Page views left: 0

You have reached the hourly page view limit. Unlock higher limit to our entire archive!

Subscribers enjoy higher page view limit, downloads, and exclusive features.

Text content (automatically generated)

NEW YORK STOCK EXCHANGE BUSINESS DRAGS oo e Recelved by Private Wire Diréet fo The Star Office. STOGKS DEPRESSED | [Frpeeamir Dehenhlm.”lln). . NEW YORK, December 5.— re & Co pf (1.40). gz-g With the stock market back to B IN FIFTH DISTRICT Many New Lows Recorded as| | and all of a three-aay gam lost | | Reserve Bank Agent Says —Prev 1930~ . % Detroit Edison (8)... Cooper and McLachlen Are|min vow Devoe & Ray (1.20.1 in two_sexsions, Wall Street ap- Divi 424 814 Abitib! I’awhhw Dia M: h ctfs (8).. Congratulated—Train Con- s Cornoat ¢ trol Hearings Set. BY EDWARD C. STONE, ‘Two Washington bank presidents— Wade H. Cooper and Lanler P. Mec- Lachlen—celebrated anniversaries today. ‘While both kept: the event very dark, yet they received many congratula- tions. Mr. Cooper is president of _the United States Sav- ings Bank and the Commercial Na- tional Bank. Born in South Carolina December 5, 1874, his ancestors being among the earlier settlers of that State, he was ed- ucated in his native State, and at Nash- ville, Tenn., later adding a law de- Wade H. Cooper. 8ree to his accom- plishmen's. He came to Wuhlngwn and practiced law from 1906 to 1910, and in 1910 be- came president of the United States Savings Bank. He was also president of the Continental Trust Co. for several years, until this bank consolidated with the Commercial National. Mr. McLachlen also holds two presi- dencies, being at the head of the McLachlen Bank and of the District Bankers' Association. He is 41 today. When he took the helm at his bank on the death of his father in 1922, he was the youngest bank president in the city, having started his career as a runner. He received his education in the public schools in this city, at Mer- cersburg Academy and George Wash- ington University. Both Mr. McLachlen and Mr. Cooper are directors in various T corporations, and L. P. McLachlen, belong to several trade organizations, Hearing on Train Control. Local stockholders in the Miller ‘Train Control Corporation are greatly. interested in the coming hearings be- fore the Interstate Commerce Commis- sion on automatic train control devices. Notices have been sent to 90 railroads that hearings will open on December 16. In a recent address a member of the Interstate Commerce Commission in- dicated that the commissioners have not changed their attitude toward the desirability of automatic train control. Railway Age recently expressed the mopinlon that train control h not a dead Puture action along this line means | & great deal to the holders of Miller stock. company originally made nothing but train control apparatus. More recently, however, if has gone into the manutacture of signal lights for ht‘hny intersections, the officials re~ steady expansion in this fleld. 'rr-dl.nl ‘was again quite active on the Washingion Stock Exchange today, prices remaining at recent levels. Two bank stocks board, 10 shares of Llncoln National selling at 410 and three more at 425, md cent vl'!f‘l'l’ed mond at 111 and llm while the 5'; per cent issue changed hands at 107 ’,z ‘Washington Railway & Electric preferred came out at 98'4. !‘.nmm sold at 104, Peoples Dmg lerred at 99%, Carpel Corporation at ‘Two huhdred lnd fifty-three shares of National Mortgage & Investment preferred sold at 5. In the bond division Capital Traction Gy’ Turgeat. (ransection waa' s, $10.000 's was a8 X sale in Washington Railway & Elec- tric 4s at 87. Forum Attendance to Reach 150. It was indicated today that the at- tendance at the joint meeting of the Piduciary Section of the District Bank- ers’ Association and the District Life Underwriters’ Association, tomorrow lfllht at the Willard, will reach 150 and | bly pass that number. =Wide in- terest is being manifested in the ad- dress of Gilbert T. Stephenson of Wilmington, Del., who is chairman of the trust company section of the Amer- ican Bankers' Association. He knows the banking and trust business and is & first class speaker. Bankers reported again today that the Christmas savings clubs are still growing so fast that last year's total membership record is likely to be sur. passed. e number of newv and old members is notable and many are sub- scribing for a larger sum than they did last year. ‘The clubs in ti l banks remain open until into Jan: ‘The council of administra on of the District Bankers' Association has a monthly meeting this afternoon at headquarters, beginning at 4 o'clock. The advertising committee had a luncheon meeting this noon at the Raleigh. George O. Vass, secretary of the as- sociation and vice president and cashier of the Riggs National Bank, has been confined to his home for several days with a severe cold. B. & O. Expected to Buy C. & A. In the little town of Wilmington, 1., 53 miles west of Chicago, there will take place on December 11, 1930, the sale of the Chicago and Alton Railroad Co. at_auction. This sale was ordered by the final decree of the District Court of the United States for the Ncrthern Dhtrlcl‘ of Illinois, Eastern division, on July 6, ! 1929, in connection with the recefver- :l’uz;; which has been in effect since | In the plan for the consolidation of the railroads announced by the Inter- state Commerce Commission last De- cember, the Chicago and Alton Rail- road was placed in the Baltimore & Ohio system No. 5. The Baltimore & Ohio Railroad Co.. as the owner of a large proportion of the onds of the Chicago and Alton. is a potential purchaser and, if the #ale is confirmed on January 8, 1931 the date set by th: court, the road will probably be taken over by the Baltimore & Ohio Co. Southern Dairies Stock Exchange. National Deiry croducts Corporation has offered to exchange Natlonal Dairy common stock for the outstanding minor stock of Southern Dairies on the basis of one share of National Dairy for three shares of Southern Dairies class A, and one share of National Dairy for each 10 shares of Southern Dairies class B. The offer expires on Pebruary 25, 1931, and may be with- drawn or to that date. Cash will be ln lieu of issuing fractional shares, the price of National Dairy to be computed on the basis of day on which Sout are offered for exchange. i 7 G U. 8. TREASURY BALANCE. ‘Dusiness closing sale on business d‘é preceding tm ot) "1 | ‘were CN'I pendiiurzs, o O 17% Adame Exp (1.60) 314 Advance R Y. 91% Alr Reduction (14%) 9% Alr “;‘lybEl Ap (1%) 7% Allegheny Corp. 56 Alleg Cp $30 ww 5% . 185% Allied Ch & Dye(né). 3214 Allls Chalmers (3). 16% Alpha Port Cmt (2) 18 Amerada Corp (2). 1% Am Agricul Chem. .. 1% Am Agri Chem ctfs 34% Am Br Shoe (2.40). 107% Am Can (15). 30 Am Car & Fdy 36% Am Chicle (13). + 19% Am Colortype (2.40). 9 Am Com Aicohol. 8 Am Encaustic (1).... Am European Secur.. 34% Am & For Power. 93% Am & For Pw pf (7). 75 Am & For Pow 24 pf. 7% Am Hawallan (a10). 48 Am Home Pr (4.20) 27% Am Ice (t4). 17% Am Internatl (2). 281 Am Locomotive (2) 79 Am Locomot pf (7) 30% Am Ma & Fy (11.65. 3% AmMach & Metal. 18 Am M M 46% Am Power & Lt (r1). 97% Am Pow & Lt pf (8). 79% Am P& L pf A st (5) 8 18 Am Rad&Std San(1) 20408 8 Am Republics. v 29 Am Roll Mill (n2) 52! Am Safety Razor (5) % Am Ship & Com 2 38% Am Shlpbulld(n[ (l) 120n 45'% Am Sm & Ref (4). 314 Am Solv & Chem, Am Steel Fdy (3)..., 95 Am Sugar Ref pf(7). 5 Am Sumatra Tob, 178 Am Tel & Tel (9). 99 Am Tobacco (5) 100% Am Tobaceo B ( 58% Am Water Wks (n. 16% Am Woolen pt 4% Am Zine Lfldl.fll. 38 Anaconda Cop (33) 86508 20 Anaconda W & C (1). 24 28 Anchor Cap (2.40) 95 Anchor Cap pf (6%). 16% Archer-Dan-M (2) 5 Artioom Corporation Asso Appl Ind (4) 18% At Refining (12) 524 Atlas Powder (4). 60% Auburn Auto (J4). 1% Austin Nichols. 17% Austin Nich pr A (3) 1% Autosal 3% Aviation Corp of Del 19% Baldwin Loco (1% ). 50 Balio & Ohlo (1) 12% Barnsdall A (2). 23 Bayuk Cigar (3 101% Reatrice Cr pf (7 14% Bendix Aviation (1 31 58% 115 Bethlehem St pf (7). 17 Bloomingdale Bros. . 15% Bohn Alum&Br(1%) 60% Borden Co (K3)..... 156 Borg Warner (3) 51 Boston & Maine (4).. 1% Botany Con M (A) 12% Briggs Mfg Co. 4 Brockway Mot Trk., 58% Bklyn-Man Tr (4)... 9 Bkiyn & Queens..... 99% Bklyn Union Gas 11 Bruns-Balk-Col. 5% Bruns Ter & Ry 13 Bucyrus (1)...., 14% Bulova Watch (3)..s £9% Burns Bros pf (7)... 18% Burr Add Mach (1).. 23% Bush Termmnal (2%) 97 Bush Term deb (7)., 108 Bush T Bldg pf (7).. 1 Butte Superior...... 10 Butterick Co . AT Ryers (A M). . 106% Byers (A M) of (T).. 49% Calif Packing (4). % Callahan Zinc & Ld. . 82 Calumet & Arizona. 84 Calumet & Hecla 10 Campbell Wyant ll) 34% Canada Dry G A (6)., 39% Can Pac new (23) 18% Cannon Mills (160).. 8 Capital Admin (A).. 29% Capital Adm A pf u) 29% Caterpillar Trac(té) 10% Celanese Corp. A 20% Cent Azulire As1%. 2003 Cent RR of NJ (112), 3% Century Rib Milh. .. 41 Chesapeake Corp (3) 1% Chic & Alton ...... 1 Chic& Alton pf 63 Chic Great Western 29% Chicago Great Wn pf 6% Chic Mil St P & Pac. 108% Chic M1} St P & P of. 34 Chi & Northwn (4) 59% Chic R | & Pac (7) 86 ChicR1&Ppf( 14 Chickasha Cotton Ofl 29% Childs Co (240).. Chrysler Corp (1). City Ice & F (k3.60). City Ice & F pf (6%4) 2114 Col Fuel & Iron (1)., 32% Col Gas & El (2).... 99 Co!Gas & El pf A (6) 9% Co'um Graph (a%). 81% Columbian Carb 16% Comm Credit (2) .., 21% Comm Credit A (3) 764 Comm Cred 151 (6% ) 774 Comm C 1st xw (814) 26% Com In Tr (g1 60). 14 Comm Solvents (11 7% Comwlith & So (80c). 9014 Comwlith & So of 16) 181 Congress Cigars (4), 6014 Conmol Cix pr pf 8% . 53 - Con Cig pr pf xw 6% . 12% Consol ©ilm 1), 9915 Cons Gas N ¥ of (5), 13 Consol Textl: 115 Container A (1.20)., 3 Container B . v 17% Contl Bakiog A 2% Contl Baking B 443 Contl Can 1234), 10% Contl Dia Fibre (1), 39% Comtl lnsur ¢ 214 Contl Motors. 0 Contl Ofl of Del 10 Contl Share: 72% Corn Pr Ref (14 914 Coty Inc. 254 Crof Whea 5% Crosley Radlo 34 Crown Cork (12 314 Crown C&S pt12.70). l’:fl Cu lflmfl. 2 (T) i ‘:1 i T Ll . Y e Y Curtiss Wright Corp. W A 100 Curtiss Wr Corp 4% Cutler-Ham (3%),.. 1 424 Davison Chem! 1w % Duluth S8 & Atlpf. 4 Har Wk Ref (12%4).. 4 MecCall Corp (2%)... Swwewa~e. - 2 Drue Corporat (4)... Dunhill Int (1)...... Du Pont de N (14.70) Du P de N deb of (6). Duques Lt 1st pf (5). Bastern Roll Mills fastman Kodak (18) Eaton Axle & 8 (3).. Eitington-Schild. . Elec Auto Lite () Electric Boat. El Pow & Lt (1). El Pow & Lt pf (8). El Pow & Lt pf (1), Fl Storage Bat (5) Emerson Brant (A). Eng Pub Serv (2.40). FErieRR. .. o Erje RR 24 'pf (4). Eureka Vac Cleane: Evans Auto Loading, Fairbanks Co pf. ... Fairbnks Morse 1.60. Fash.on Park Asso.. Fashion ParkAs pf. . Fed Lt & Trac pf (6) - E o & st nnBaR e RS g~ o 4 Fed Motor Tr (80c).. Federal Screw (1). .. Fed Wat Sve A 2.40.. Fid Ph Fire In (2.60) Fifta Ave Bus (64c). Firestone T & R (1). 4 Firest T & R pf (6).. First Nat Strs (2%) Flsk Rub 1st pf ev Foster Wheeler (2).. Fourth Natl Invest. . Fox Film (A) (4). Freeport Tex (45) Fuller pr nf (+7.94), Fuller 2d pf (17.40), Gamewell Co (5). Gardner Motor. . Gen Am Inv pf () Gen Am T'k Car (34) 4 Gen Asphalt (3 Gen Bronze Gen Cable Gen Elec spee (60c). Gen Food Corp (3)... 19 Gen Gas&El A(ed0e) 12 GenG&Elevof (6), 3 Gen Ital Ed (a2.63).. 1 Gen Mills (3). Gen Mills pf (§ 4 Gen Motors (13.30)., Gen Motors pf (6)... Gen Out Adv (A) (4) Gen Ry Signal (5)... Gen Realty & Util. Gen R & Ut pt (e6) Gen Refract (t4%).. 4 Gen Theatre Equip. . Gillette Saf Raz (4). Gillette Saf R pt (5). Gimbel Bros.. . Gimbel Bros pf (7).. Glidden Co (1.20)... Gobel (Adolf).... Gold Dust (2%). Goodrich (BF)....un Goodyear Tire (5)... Goodyear 1st of (7).. Gotham Silk Hostery Gotham S H pf (7).. 10s Gould Copper. 1 Graham-Paige Granby Consol (2) Grand Unfon Grand Union ! Granite Clty St (4). Grant (W T) (1) Gr North of (5). Great Nor Ore(12%) Great \Western Sugar Gr West Sug pf (7). 150s Grigsby Grunow.... 1 % Guantanamo Suga Guif Mob & N pf (6): Fahn Dept Stores. .. Hall (WF) Pr Co (2). Hartman Corp (B) y Chy . Choe pf (15).. Hoe (R) & Co... Hollnd Furnace 11% Homestake Min(18). Houston Ofl (b10%). Houston Ofl (new).. Howe Sound (t4%4).. 3 Hud&Man Ry (3.50). 2 2 1 2 3 2 2 2 1 5 + 2 4 1 4 Hudson Motors (3).. Hupp Motors. o Illinots Central (7) Ind MotorCycle pf... indian Refining. Indian Refining rcts. Indus Rayon (4). lnxer!oll Rand (16). iration Copper. . lmurmc- Sh (45¢).. Ins ctfs (Md) (60c).. Interboro Rap Tran. Intercont Rubber Interlake iron (1)..« Int Agricultural..... Intl Carriers (25¢) Int] Cement (4). Int] Combustion. Int Comb Eng pf. Intl Harvester (2 Int Harv Intl Hydro El A (e2) 4 Intl Match pf (4). 64 Intl Nick of Can (1), lOllll 18! [nt] Paper pf (1) ..100s Intl Paper & PwrA.. 3 Int] Pap & P pf (7) 6 Int Rys Cen A pt (5).1255 Intl Salt (3). 4 Intl Silver (4) Intl Silver pf (7) Intl Tel & Tel (2).... Inter Dept Strs (2)., Investors Equity (2) Johns-Manville (3).. Kayser Julius (2%). Kelly-Spring Tire. .. Kelly-Spring 8% pf. Kelsey Hayes (2).. Kelvinator Corp .. Kend Co pf (16.37). Kennecott Copper( Kinney (GR) (1) Kolster Radlo. Kresge (S8) C . Kresge Dept St pf...2008 Kreug & Toll (1.60). 101 Krog Gr & Bak (n1).. 11 Lambert Co (8)..... l.ee Rubber & Tire. .. Lehigh Port Cmt (1) Lehigh Valley Coal.. L.eh Val Coal pf (3).. Lehigh val (t4%)... f.ehman Corp (2).... Libbey O Ford Glass. Liggett & Myer (15). Lig & Myers B (15) ® St g w8 aamnl Link Belt (2.60). Tlquid Carbonte (4). 460 Loew’s, Inc (14) . s ( Lorillard 1Pl Co. Loutsiana Ol LouG & B (A) (1%) Louls & Nash (7).... Ludlum Steel. . T McGraw - Hill (2) Mcintyre Pore M (1) McKeespt Tin P1(16) McKesson & Rob (1) MicLellan Store Mack Trucks (4 Macy & Co (nv3). Madison 8q Gar ( Mugma Coy per (3).. Mallison & Co ... Mandel Brother: Man Elev mod g (d5) Manhat Shirt (1).... Marine Mid (120), Market St Ry. . Market St Ry pf..... Mariin-Rock (t5%). Marmon Motor Car. . Marshall Fleid 12%) Mathieson Alkall 2) May Dept Strs (n2).. May tag Company ... Maytaz Co pi (3) Meniel Co 12) RS 06 B S ER N R A A R S A AN S - Various Issues Are Freely Offered. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 5.—Persistent liquidation pressed down on today's stock market, producing many néw lows and threatening a test of the previous low for the whole list. 5 Opening quotations were irregularly Jower and during the first two hours of trading the decline was extended, with special weakness in the ralls and in the higher priced indutrials. No one group, however, was entirely exempt from the selling. The turnover was comparatively small and the losses were due as much to scarcity of bids to the volume of oiferings. Rails Lose Ground. The rails made the poorest showing. | New minimum prices for 1930 or longer shares as New York Central, Lacka- were recorded by such a wide variety of wanna, Nickel Plate. St. Louis-San Francisco, Southern Railway, Chicago & Northwestern, Rock Island and Cen- tral Railroad of New Jersey. The last named sold under $200 a share and at the lowest since 1924. ‘There was no news especially adverse to the rails, and the liquidation had the’ appearance of being forced to protect positions elsewhere. High-priced industrials gave way easily. Eastman Kodak and Coca-Cola were down 6 points before noon. West- inghouse sold off a point or so, and General Electric was lower, but held better. U. 8. Steel receded gradually, and its loss was not large, compared with the others. American Can was! another industrial to receive support ! on the decline. Heavy selling came into the utility list, affecting particularly North Amer- ican C6, One block of 12,300 shares of United Corporation came out, but at only a fractional decline. American ‘Telephone & Telegraph, which bore the brunt of the selling Thursday, did a little better. In the first hour it was | up on the day, but lost ground later. ‘The market was unique in that the decline was effected on such small trading. At intervals the ticker came to a complete standstill. On no other day this year has there been a break of | so gradual a nature. There was no haste about the selling, but, on the oth- er hand, there was no rallying power. Presumably professional operators took advantage of the opportunity to put out | commitments, but that must have been minor factor. Early Losses. Though there were a few exceptions scattered through the list, the general trend of the early market was down- | ward. There was a tendency to widen | the compnuuvely small losses of the opening. In the rails there were two new low prices, Nickel Plate at 78'2, of 1%, and Frisco at 57, off 1. There were also losses in Baltimore & Ohio, Canadian Pacific, Southern Railway and Union Pacific. ‘The market generally followed the lead of active issues such as Allled Chemical, American Can, Columbian Carbon, J. I Case, Loew’s, Warner Bros., General Electric, Westinghouse. National Biscuit, Montgomery Ward and Drug, Inc. Money ren:wed un- changed at 2 per cent. During the first half hour sales amounted to 228.- 500, the most active opening in a week. An active feature was Radio, which came out in two large blocks which forced the price down % to 15. United States Steel was off nearly a point. Anaconda off fractionally, Consolidated Gas off a point, Phillips off over a point and General Motors down a shade. Notable exceptions to the trend of the market were American Telephone, up over a point in moderately active +trading, and Worthington Pump, Rich- field Oil, Standard Oil of Cl“lornll and Studebaker, all up fractionally. By the Associated Press. NEW YORK, December 5.—A “su'nng nucleus” of mills has signed to support the activities of the Wool Institute dur- ing 1931, Lewis A. Hird, chairman of the Weavers' Committee, announced. He added that a series or group of meet- ings will be held to elect a chairman for each group, who in turn will form the board of directors of the institute. ‘The necessity of retail co-operation to combat enactment of retail sales taxes has led to a revival of the proposal to organize a New York State Association of Retailers, it was said in the trade. It was felt that the impetus toward the creation of such an organization should originate in up-State centers rather than in New York City. Paramount-Publix _ Corporation is adopting the new sound process devel- oped by laboratories of Electrical Re- search Products Corporation, a subsidi- ary of Western Electric Co,, in all of its new film productions, While the number of reorders com- ing into the market indicates that busi- n is improving, selling agents for gift items say they have been puzzled in the last two weeks by occasional cancellations which continue to reach them. Until this year, they maintain, cancellations were unheard of, and they are at a loss to account for them now. Buyers contend that they have been | willing to recelve the goods, but that the orders against shipment have come from their superiors. ‘The Silk Travelers’ Ascociation voted $1,000 for unemployment relief and re-elected its officers, headed by Robert G. Hurlmann, at the annual meeting last nignt. The fund is to be administered by the Board of Gov- ernors. The Mohawk Carpet Mills, manu- facturers of chenille carpet, have an- nounced a flat reduction of 10 per cent on this grade of fabric. Gecrge Lambie, sales manager, said economics | in production had made the reduction possible. Imports of Japanese raw silk from the inning of the new crop year to November 30 totaled 164.399 bale-, against 277,345 last year, the largest ever reported, and indicates that more | buying has been done at low prices than was commonly believed. It is ex- pected that many silk manufacturers will be in a position to offer low-priced goods xor some time. NEW SECURITIES NEW YORK, December 5 (#)—New | securities offered today includ Toledo Light & Power Co., $35,000,( 000 5 pr cent secured notes due December 1, 1932, priced at 99'; to yield more than 5.25 per cent, by a group headed by Harris, Forbes & Co. State of Missouri, 5,000,000 4 per cent bonds, due December 1, 1943-47, priced at lW and interest, by a syndi- cate headed by nu Guaranty Co. of New York. : ufl'ms'r MTES. By the Assoclated Press. Money rates rémaitied ul ! proached the speculative situ- ation this morning with consid- erable anxiety. It had seen evidence of fresh liquidation in the closing hour ursday. Extreme weakness had developed in some of the strongest issues. The industrial average was still 9 points above the low of November 10, but rails were only l: point above that day and public utilities 3 points over it. The leading question now is whether the list will re- ceive enough support to keep it from breaking through the No- vember resistance point. On this, the Street is about evenly divided between those who think that the November 10 average will stand as the low of the year and those who feel that, before the end of December a new low aver- age will be established. BUSINESS INCREASE IN SPRING PREDICTED Economist Wright Finds Sentiment Optimistic Among Trade Authorities, Speclal Dispatch to The Star. NEW YORK, December 5.—A pre- dominantly optimistic sentiment in re- gard to an important upward swing in business activitv shortly after the turn of the year is disclosed in a synopsis of | authoritative opinions on the industrial situation made by Gage P. Wright, New York business and investment counselor and president of the Business Economic Digest, in the current issue of that service. He says, in part: “Business activity, as measured by our consolidated index, has declined to a new low for the year, and we now estimate that business activity is about 23 per cent below normal.” Mr. Wright goes on to say: “The rapidity and depth of the decline in productive activity during the last few months strengthen the prospect for a turn in business in the Spring; that is, the necessary re- adjustments are being accomplished rapidly. Of course, there are still many elements in the situation which have yet to be readjusted. such as unde- flated security loans by banks and re- jtail prices. But, according to past ex- periences, a period of business depres- sion does not cover all maladjustments. The majority of business troubles are smoothed out before the upturn be- comes evident, but many are corrected after a business recovery begins.” PREFERRED STOCKS HIT NEW LOW-RECORD MARKS | Special Dispatch to The Star. NEW YORK. December 5—A high | proportion of the new low-record prices now being established is in preferred stocks. One of those that has just drop- ped down into new low ground is Alle- ghany Corporation 5'; per cent pre- ferred. whose price is off 50 per cent from the high of the year. Others are Erfe first and second pre- ferrad, the latter selling on a 10, per cent income basis; Gimbel Brothers 7 per cent preferred, Hudson & Manhat- tan 5 per cent preferred, Kansas City Southern 4 per cel t preferred, Radlo Keith 5 per cent “ preferred, which is quoted to yield 14% per cent; Second Natlonal Investors 5 per cent preferred, Sinclair 8 per cent preferred at par, ‘Tidewater Ofl 5 per cent preferreds and Postal Telegraph & Cable, whose 7 per cent dividend has just been declared after the stock had dropped to 40. Money to Loan by - T g Money on Hand to Loan om First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc., 806 15th St N.W. Phone National 2623 Mortgage Loan Correspondent for The Prudeiitial Insurance Co. of' America " REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD Avplications invited nt. well located For 88 or 10 venre Uf 1520 K St. N.W. National 0475 USED CAR SALE in_ the “Automobiles UP TO #300% On Our Liberal 20-Monthly-Repayment Plan No Endorsers Required A Strictly Dignified and Confidential Service ihrylnd Personal Bankers 8405 Ga. A't'.‘.sflv..; 8 %‘-‘ Public Small Loan Co. Rossl, Phone m-r!: &ifli Work Now Finished Adds to Unemployment. By the Associated Press, RICHMOND, Va., Dmhlx 5 —Wil+ liam W. Hoxton, chairman and Ped- eral Reserve nt_for '.he fifth Ped- Kb Sl P s lchmon ‘W today d there h ‘“:xt mles \n , but, on the contrary, he nm“m of work undertaken in the Spring and Summer has added to the number of idle_workers, ol ey oty credt Suslous Pittstield. Mass.* @ Gevolin, " Bouth Wt | A 20-Year Guaranteed 129 District of Columbia. and Income Policy at Low Cost General business condif district continued in Octaber to com- Phone for Our Insurance pare un: nouhly -uh those of a year “Yard Stick” ago, the report Large hn.k M'wl-n. “During the month /between Octobef 15 and November 15 ber banks creased their borrowing at the Rume Bank, a seasonal development due to |:ag; °" ";'!Yd C“]Btcmeu The circu- lnve‘t Your 5 thowed s sossonm) pseve, notet ko || Christmas Money in of agricultural products and the open- ing of Fall trade creating demand for Gu‘r‘nty Securities et e “Member joans showed little change during the month, But their The safe notes and bonds aeposits, both: demand and time. in. || SPOnSored by this responsible creased. Debits to individual accounts || COrporation offer you an as- in 24 cities of the fifth district for the || sured income, four weeks ended November 12 showed a seasonal decline in comparison with decrease from iast ure was du o Jower price levls. this Sear, " o CoRPORATION “Commercial failures in the district Equitable Co-Operative Bldg. Ass’ qmta e Co-Operative Bldg. Ass'n rganized 1879 51st YEAR COMPLETED JOHN JOY EDSON, President WALTER S. m'lel'. Jr., Secretary debits during the four weeks ended were more numerous in October than Capital Resources, $3.500,000 ..$5,901,122.48 Surplus & Profits.........§! October 15, this year, and also totaled in either September, this year, or In Our Own Building Snlmnpuo- for the 100th Issue of Stock Being Received . F. T. Koons, General Age e Union Trust Bldg. Nat. 1018 159 per cent less than debits in the corresponding four weeks last year, October, & year ago, and a te lia- bilities ‘involved also rose last month in compatison with both the earlier 1610 K St. N.W. “Coal production in October showed ended November 13, 1929. Part of the some seasonal increase, but total figures We will gladly —and pre- 5 4 explain pare for it by saving syste- et matically each systematic pay day. Then you plan will be pre- pared for any emergency. The Real Estate Loan Plan of the Metropolitan Life Insurance Com- pany. To home owners in the District of Columbia and nearby Maryland and Virginia we offer this practical means of home financing which has proven so advantageous to thousands of families throughout the nation. Loans for Fifteen Years Low Interest Rates No Life Insirance Required . Construction Loans in Any Amount EAVER REA L‘ro ROS Washington Building Mortgage Loan Correspondent Metropolitan Life Insurance Company Districe 9486 FIRSE MORTGAGES RECKONING WITH CERTAINTY An investment in our 6%, FIRST MORTGAGES is attended by no speculative phase. The money you put into them will earn this definite rate Over a Third of interest continuously—to the of a end of the term of the mortgage. Cenitury And your money is safely se- Without a cured, all the while; by~conserv- atively appraised redl estate. A May be purchased in amounts from $250 ups ; SAUL CO. 925 15th St. N.W.

Other pages from this issue: