Evening Star Newspaper, December 9, 1930, Page 14

A—14 ®xa LONG-TIME MONEY RATES HOLD FIRM But Interest Charges on Short-Term Notes Have Hit Low Mark. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, December 9.—While EBecretary Mellon has announced the rates of 1% and 1% per cent for the new $400,000,000 United States Treas- ury certificates to be used for refund- ing operations shortly, it should be noted that the two issues are both short-time ones—one for six months and the other for twelve months. The Secretary apparently belives, with many others, that the time to put money out for long-time interest has not yet arrived. Undoubtedly, both these issues of Treasury certificates .will be eatly oversubscribed, in spite of the !:ct that the new interest rates, under 2 per cent, compare with a high of 5'g per cent paid by the Government in June, 1928, and a rate of 2% per cent in September of this year for one-year certificates. Short-time money is still cheap and plentiful—on good security. But long- time money is a horse of another color. Uses Chart as Guide. John Pope, 33, statistician of East- man, Dillon & Co., expert on market figures and charts, has been *rolling in the shekels” the last few years by mnot “taking tips.” His plan is different. He studies his ts and figures for each stock. He ives it “the third degree.” Earnings, assets and management are analyzed. Then he decides whether the stock is too high or too low in price. And he plunges—with his charts and his cash. In the last five years he has become several times a ‘millionaire. Here's the way he works: A well known corpora- tion made a financial statement to the New York Stock Exchange, which, upon close checking, Mr. Pope found to be inaccurate. He said s0 in a letter to certain friends. Presto—the Business Conduct Committee of the Exchange called upon him to explain. Before the 40 governors he produced charts and figures in & way that left no doubt that he was the master of the situation. The Business Week says that, although Mr. Pope came out of the conference with a greatly enhanced reputation, he leisurely boarded a train for Mississippi, his home State, “with- out statement, interview, denial, con- firmation or comment.” But this much is known—his sta- tistical and masterful defense has been carefully preserved in 43 copies, any one of which may some day be very valuable Mr. Pope successfully called the turn of the big “bull” market in 1929 and 8lso came out on top in his first serious it with the Stock Exchange. Lower Price Demands. A. B. Gilbert of Minneapolis suggests to the writer that deflation always tends to be popular before it occurs. “Previous to the break of 1920 there ‘was a nearly universal clamor for low- wu. which the Democratic party Reserve Board yielded to, rather than led, as commonly charged,” says Mr. Gilbert. “A similar wave, milder in degree, ssed us in the Summer of 1929. ou will recall that tne basis for tariff rate-making shifted suddenly, in spite of Democratic assurances in the cam- , from the full home market is, or differences in cost of produe- tion basis, to the consumer-protection “If this more general responsibility for deflation could be recognized,” con- tinues Mr. Gilbert, “a solution would be less difficult, and the discussion less mvoelfivg;i cl':nl;rl‘l’ldt: llflg.\d;& ldm ‘We can’t ice officeholders """““"“"{h“,;‘ of the people opposed to their clamor. AR Gilbert, doubts that civilization is wise enough to work out anything bet- ter than the gold standard, but “we certainly ought to be able to use the ld standard more efficiently for pro- It's the old story-—the gold stand- ard, properly handled, can be made effective for modern hu:ifletgy ‘The gloomy forebodings, prophes! many eeonm{mu, that theuppr\ce level will continue to drop as the amount of Lold taken from the mines diminishes is a bugaboo. That is, if fi! l?‘.‘x;:m‘ k‘d‘; ers of the world are intel t enoug] and sufficiently organized to meet it— head on. The danger always is that the bank- ers and business men are so busy with their own immediate problems that the larger problems of far greater Import to future generations are very likely to be ignored. jored. Otherwise, there would be no “gold problem™ y. Rail Bonds Weak. Railroad bonds showed a decided yesterda; many im- it financial groups, including several insurance companies, have been unloading rallroads from their portfolios in recent weeks. The rall situation looks pretty gloomy. The roads face a fight in Con- gress by asking to be allowed to merge or purchase competing bus, pipe and steamship lines. unny‘g-umm are not earning their dividends; and others, in the last quar- ter, did not earn even their bond re- qQuirements. E. E. Loomis, president of the Lehigh Rallroad, does not believe that the so- Jution to the problem Mes in ircreasing railroad rates, but rather in the direc- tion of getting the railroads to make rate adjustments to compete with other forms of transportation. Mr. Loomis says: "Th‘: leim loss in revenue-producing trafic as a result of the operation of barge lines on toll-free and Govern- ment-subsidized waterways, the increas- ing use of unregulated icks and buses on public highways, the building of new pipe lines for carrying oil and gasoline and the high tension power lines pro- the Nation's coal requirements have brought home to many business men the grave difficulties in the situa- T il true, but still the railroads them- “l‘vu have not been up on their toes or | as ive in meeting the new com-i n they should have been. So s crisis looms in the rail situation. And | that largely accounts for the selling of‘ sailroad bonds at this time. i Sugar Price Agreement. 1 The quick response of European sugar flm the ureemenl‘ which the | iban-American group of sugar pro-| ducers, led by A L. Chadbourne, | New York lawyer, reached with the rep- i resentatives of the Dutch East Indies; _M“eam at terdam Amst y advances of from three points in the sugar market on the New York Coffee and Sugar Exchange T estercay's delivery sold at 1.34 cents pound, while March option moved up %0 146 cents a pound. ‘The mtc:"rl:'en' in Java, next to are Tgest cane sugar pro- %hmm. So_“Cuba and by North American Newspaper Alllance.) COAL PRODUCTION. FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., TUESDAY, DECEMBER 9, 1930. 'NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. (Continued From Page 13.) ~Prev.1! Stock and Sal Rate. Add 10% Ludlum Steel. . 33% McCall Corp (2%)..u 14% MeclIntyre Porc M (1) 61 McKeespt Tin P1(16) 10 McKesson & Rob (1) Rpf (3%). e 97%-Macy & Co (nt3). 6 Madi=on Sq Gar (1) 20 Magma Corper (3).. 24 Man Elev mod g (d5) 8% Manhat Shirt (1).. 21 Marine Mid (1.20). 21% Marlin-Rock (16% 54 Marmon Motor Car.. 81 Marshall Field (234). 3 Martin Parry........ 32% Mathieson Alkall (2) 33% May Dept Strs (n2).. 5 Maytag Company 16 Maytag Co pf (3) 25 Melville Shos (2) 61 Mengel Co (2) 69 Mengel Co pt onvefareasEosmorficwloas ana ichigan Stl (h2%). 1d-Cont Pet (2)... 15% Midland Steel (3) . 103 MilEIR & Lt pf (6). % Minn & St Louts. 5% AMinn Moline Pow... 53% MinnMoline pf (634 ). 18% Mo Kan & Tex (3)... 70 Mo Kan & Tex pf (7) 25 Missouri Pacific..... 95% Missour! Pac pf (5) 11% Mohawk Carpet 23 Monsanto Ch (g1 16% Montgomery Ward 48% Morrell & Co (4.40) % Mother Lode 1'4 Motor Meter . 26'% Motor Products (2). 14% Motor Wheel (3). ... 38 Mullins Mfg pf (7).. 30% Munsingwear (14).. 9 Murray (B) (2% stk) 34 Myer (FE) & Br (2). 24 Nash Motors (4) 6% 5 685 Biscuit (13.30).. 56 28% Nat Cash Reg A (14) 1308s 38% Natl Dairy (2.60). 7 Nat Radlator pf. Nat Steel (2). 69% Nat Supply (5)... 1061% Nat Supply pf (7) 50% Nat Surety (5). 14% Natl Tea (1) » 3 28% N Y Airbral 119% N ¥ Central (8).. .. 77 NYCh&StL(6). 80 N Y Dock pf (5).. 13% N ¥ Invest (1.20).... 76% N Y N H & Hart (6). 112 NYNH&HDf(7).. 5 N YOnt& Western.. 1 N Y Rallwayspf.... 100 N Y Steam pf(6). 4% Norfolk & Southern. 195% Norfolk&West (112) 5% North Am Aviation. 59% Nor Am (b10%stk). 51 North Amer pf (3).. 100% North Am Ed pf (6). 50% Northern Pacific (5). % Norwalk Tire & Rub. 16% Ohlo O1l Co (2). 2% Oliver Farm Equ! 4% Oliver Farm Eq cv pt 17% Oliv Farm Eq pr pf.. 2% Omnibus Corp. .. .. 0 25 Oppenheim Col (3).. 48% Otis Elevn (2%). 12 Otis Steel. .. 36% Owens 11l Glas: 4% Paeific Coast. 44% Pacific Gi 55% Pacific Lighting (3). 122 Pacific Tel & Tel (7). 7% Packard Motor (60c) 41 Pan-Am Petrol (B), 1% PanhandleP&R.... 40% Param’'nt Publix (4). 1% Park Utah.......... 3% Parmelee Tran (60c) 2% Pathe Exchange. . ... 5 Pathe Exchange (A). 9% Patino Mines. .. 30 Penney (JC) (3) .. 26% Penick&Ford (11%) 3% Penn Dixie Cement. . 20% Penn Dixie Cem pf. na K R (4) Peop Drug Strs (1). Peoples DS pr (6%). GasCh (3). Marquette (18) Margq pr pf (5). Petrol Corp (1%)... 20% Phelps Dodge (2)... 98 Phila Co pf new(6). 504 Phila Co 6% of (3).. 9% Phila Read C&1.... 8% Philip Morris&Co(1) 15% Phillips Petrol (n2). » Plerce Ofl. 9 Pierce Oil pf. « gl e oo o8 Sernoa? vlnriiarnfrnetoneEnErorna ok ) - @s SwwSTomme = 'S warnSrenanaman 67% Pittsburgh Coal pf... 16 Pitts Screw (1.40) 14% Poor & Co (B) (2) 4 PRAmTob(B).... 16% Prairie Oll & Gas (2) 21% Prairie Pips L (16).. 3% Pressed Steel Car, 52% Proct & Gamb (2.40). Pullman Corp (4 Punta AlegreSug 4 % Punta Alegre 8 cifs. 10% Pure Ofl. 93% Pure Ofl pf 40 Purity Bakeries (4). 12% Radio Corp . 48% Radio pf A (3%). 33% Radio Corp (B) (8 17% Radio-Keith-Orph A. 17% Raybestos Man 2.60. 87% Reading Rwy (4)... 30% Real Silk Hosiery (3) 1 Reis (Robt) & Co. 14% Rem Rand (1.60). 84 Rem-Rand 1st pf (1) 8% Reo Motor Car (80¢). 15% ublic § . 38 Republio Steel pf () 13 Reynolds Metals (2). 2 Reynolds Spring.... 41% Reynolds Tob B (3) 5% Richfleld Ofl..... 7 Rio Grande Oil. ..... 29% Ritter Dent Mf (13).. 20 Rossia Insur (2.20).. 37% Royal Dutch a3.2165. 444 Sateway Stores (5).. 25% St Joseph Lead (13). 48 St L-San Fran (8)... 70 St L~-San Fran pf (6) 42 8t L Southwesternpt 4% Schulte Retall Stry % Seaboard Afr Line 1% Seab'd Air Line pf Sermamame amaraSSvee wlemake es— Prev. 00. High. Low. Close. Close. 98 95 98 97 ~Prev.1930 Btock and viry 10054 23 Sgrave (1.20) Sears Roebuck $2%.. Second Nat) fav. Second Natl Inv pf. Seneca Copper . Servel Inc. Sharon Ste % Sharp & Dohme. . Shattuck(FG) ( 4 Shell Transp (a2.43) .300s Shell Union Ofl...... 13 Shell Un Of] pt (5%) Shubert Theaters. . Stmmons Co. . Simms Petroleum. ... SinclairCon Of1 (13.. Sinclair O1l pf (8). Skelly O11 (2).. Sloss Sheffield Steel. Sloss-Sheff pf (7) 10¢ Snider Packing. . Snider Packing pf. Solvay Am pr ww 5% Sou P Ric Sug (1.40). Southern Cal Ed (2). Southern Pacific (¢ Southern Rwy (8). Sou Ry M& O ct (4 Spalding (A G) (2) Spang-Chal pf (6). Sparks Withing (1) Spencer Kellog(80c) . Spicer Mfg. .. Stand Brands(1.20) Stand Brands pt (7 Stand Comm Tob, Stand G & E (3% ). Stand G & E pf (4). Stand G & El pf (6) Stand Invest Corp. Stand O11,Cali(h2% Stand Oil Kans...... Stand Ofl of N J (12) Stand Ol N Y (1.60). Sterling Sec (A). Sterl Sec pf (1.20). Sterl Sec cv pf (3)... Stewart-Warner (2). Stone & Webster (4). Studebaker Corp (3). Submarine Boat Sun Of1 (11)... Sun Ol pf (6) Superheater (13%) Superior Ofl Symington ( Telautograph (11.40) Tennessee Corp (1)., Texas Corp (3).. . Tex Gulf Sulph (4). Texas & Pacific (5) ‘Texas P C & Oil. 6 5 4% 10% 35% 19 Ti% 16% 34 31 1315 328 27% .52 48% 25% 106% % 94% 37 8 40% 1031 6 231 3 4 32 112% 42 56% oo NORARH NN NON R A~ e e Thatcher Mfg (1.60). The Fair (2.40). Thermold Co. Third Avenu Third Natl I Thompson (J R) (3). ‘Thompson Pr (2.40). Thompson Starrett. . Thomp-Star pt (33%) Tide Water As (60c) Tide Water As pf (6) Timken Det Ax (80c) Timken Roller (3)... Tobacco Products. .. Tobacco Prod A t95c Transamerica (1) Transue &W (1) Tri-Cont Corp. Tri-Cont Corp Trico Prod (2%) .. Truax Traer (1.60).. Twin City RT f (1) Und-Ell-Fischer (3). Union Bag & Paper. . Union Carbide (2.60) Union O, Calif (32), Union Pacific (10). .. Union Pacific pf (4). Un Tank Car (1.60) Utd Afrcraft. Utd Afreraft UnitedBiscuit (2) United Carbon (1) Utd Cigar Stor Utd Corp (50¢). Utd Corp pf (3). Utd Electric Coal. Utd Fruit (4)... Utd Gas & Im (1.20) Utd Gas & Im pt (5). Utd Paperboard. .... Utd Plece Dye W (2) Utd Stores (A)..... Utd Stores pf (2%) 8 Freight (3). Indus Alco ( Lea Leather (A) Leath pr pt (7). Pipe& F (2)..., P&F 1st (1.20). Realty&lmp(3).. Rubber..... Rubber 18t pf. .. Smelt & Ref (1).. Smelt Ref pf 3% U 8 Steel (7).. U S Steel p£ (7). U S Tobaces (4) Univ Pic 1at pt ( Util Pwr&Lt A 12.15. Vadasco Sales Corp. . Vanadium Corp (3). Va-Car Chem. ....... Va-Car Chem 6% pf. Va El & Pow pf (6). Vulcan Det (4). Wabash. St Waldorf Systm (13%) Walworth Co (2).... Ward Baking (B) . Ward Baking pt (1). cgocagaacaaa nnRRLNRRRK® Warren Bros (3)..., 2 War Bros cv pf (3).. 20s WessO&Snpf (4).. 1 West Penn El A (7). 100s West Penn El pt (| West West Penn Pw pf (§) 200, West Penn P of (7).. 30s Western Dairy A (4) w tingh'se A B (2). Westing E& M (5).. tE & M pt (6).. Westvaco Chlor (2).. Wextark Radio Strs. White Motors (2). White SewingMac White Sew Mach pf. Wilcox O1l & G Woolworth (2.40). .+, Worthington Pump. Wrigley (Wm) (4).. Yale & Towne (2)... Yellow Truck. Youngs Spring (3).. Young Sh & Tube(5) 2% Zenith Radlo........ 2 10:30 A.M. 899,000 1 given in the abot he latest quarterly or less than 1 in scrip. 1P T b Payable in stock. © Pyable In cash or stock. fPlus n b Plus 2% iu stock. J Pl 1% in stock. nPlus 5% r Plus 14% in stock. in ‘stock. p Plus ~ 1% > !nedk Payable in stock, K Plus 3% Sales— figh _Low__ _ Dividend Rate,__Add 00. High._Low. _Close. 614~ 6l L 6% 51% 6Th 67% 31% 31% 10 10% 23% 28% % 76 3 Sales of Stocks on New York Exchange 0 Noon 1 ve table rnusl rl Bait :ea‘rrx .2:"""":‘7?: lus 9% 1n s B ris ly. stock. & Plin % in_stock, 3100 In preferréa MACHINE-TOOL TRADE IS REPORTED QUIET Special Dispatch to The Star. NEW YORK, December 9.—Current trading in the country’s machinery and machine-tool markets reveals no marked advance or decline beyond the usual let-down in December, but the en- couraging flow of juiries continues to be one of the fi rs contributing a urumwnn::;mt of 2°N‘l!;“l:m t:d buoyancy present quiet, er- can Machinist reports. There is the gm‘rl‘l of sales for single run are for items needed at once for replacement. New York had a steady week, with no lists in sight. New d reports some mvmt in industries which ‘upon machine-tool pur- and announces a 6-week Soviet for Lapointe. Detroit has only ttered orders, good purchases by one automob Chicago district rafiroads are show- shelved. the Cincinnat! territory have about ex- hausted their year's sales possibilities, but expect present inquiries to become orders after New Year. San Prancisco reports good sales for one exceptional company, but machine- tool ord ern mm Dec::’ber business appears promising, and the general opinion is that the low point has been Canadian water-power plants, foundries and loco- motive b.ilders being slow. . ‘NEW "YORK, December 9 (#).—New securities offered today include: cha Semn Sl ot 0| per cen! WA b d:/f'udnm. ue. Dicsmbes 1, 1939-1953, and | at prices to dealer. | dicate headed Dealers and manufacturers in in general is slow. South- | California Pet. Cor Canadian Nor. passed. machinery demand is for | Cu, NEW SECURITIES di yield 4.45 per cent, by & syn- by the Guaran! ty Co. of Norunwestern 7 Fihw Chicago Rock Island 4s Gl 7 58 1933 1934. Prev. Close. 6% rned. toc) i Pits m stock. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co) Allis-Chalmers Co. 5s 1037. American Tel. & Tel. 6 American Thread S%s 1936 Baltimore & Oho 4% 1 Batavian Pet. Corp. 4%s 1943. Bell Tel. of Canada Ss 0% v |though still 22 points above their Tor % | cific 414, Chicago & Eastern Tilinols 58, ¢ Washington Stock Exchange /BONDS SELL DOWN ONLARGER VOLUME All Sections of List Affected. Rail Group Is the Weakest. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, December 9.—In liqui- dation which affected every part of the list, the bond market dropped to new low ground today. As in the case of the stock market, it was in railroad securities that the most drastic declines took place. Bonds which apparently had already dis- counted the worst conceivable phases of the present business depression today made further declines of from 1 to 31z points. ‘The high grade group moved more conservatively, but nevertheless defin- itely downward. Convertibles moved off widely with stocks. Selling of a distress nature made its appearance in the foreign list. Money rates were unchanged. Volume was somewhat higher than on Monday. The feature in the weakness - of carrier securities was the Van Swer- ingen group. The renewed declines in the common stocks of the railroads which are deposited as collateral se- csurmq various borl\‘ia of the m: weringen system have again rai the question whether or not these de- posits fulfill the indenture stipulations. Van Sweringen 6 per cent notes on the curb were again well below 80, 61 Chin Gvt Ry Colombia 6s Copenhag §s. ba 6 cent low. Missouri Pacific 4s dropped 1!, points to & new bottom. So did Missouri Pacific 51,s. Erfe 5s were off a point and there were declines of similar size in Alleghany 5s, Chesapeake & Ohio 415s, Chesapeake Corporation 58 and Nickel Plate 41.s. Other rallroad bonds, of high and low degree, also had a unanimously downward trend. These included Atchi- son General 4s, Baltimore & Ohio 4s, Canadian Pacific 4s, Pennsylvania 475s, Frisco A 4s, Union Pacific 4s, Great Northern 7s, Chicago, Burlington & Quincy 4s, Atchison 41ts, Southern Pa- Dutch East I Dutch East 1 Dutch East I Dutch East 1 Fram [ D 7% French 7s ‘49 French Gvt 7 Chicago Great Western 4s, St. Paul Ad- justments, International Great North- ern 6s and Southern Rallway 4s. High-grade public utility and indus- trial descriptions were ~also lower, though not importantly.so. American Telephone 5);s, Philadelphia Co. 5s, Columbia Gas 5s, Utah Power & Light 58, American & Forelgn Power 55 and Youngstown Sheet & Tube 5s had frac- tional declines. Utilitles Power & Light 57,8 were off 2 points to a new low. United States Government obligations were all off slightly on moderate selling. Junior industrial issues were quieter and a few of them, like Anglo-Chilian 7s, Hudson Coal 5s, Dodge Bros. 6s, Phillips Petroleum 4%s, Sinclair 7s and McKesson & Robbins 5l;s were firm or fractionally better. German government 515s lost all their recent gain. German Central Bank 6s, Berlin 6%s and German Reparation 78 were also a point or more below Monday's close. Other declining dol- lar bonds were Kreuger & Toll 5s, Karstadt 6s, Lautaro Nitrate 6s, Aus- trian 7s, Australian 5s, Belgian 7s, Italy 7s, Poland 8s, Chile 6s, Sao Paulo 6s, Peru 6s, Tokio Electric 6s and Royal Dutch 4s. New issues today amounted to nearly $15,000,000. Ger Gen E1 7, Greek 6s'63. Haftl 68’62 Hungary 7 Italy 78 51 It 8% Jugosl Bank Karstadt 6s Lyon: New So Wal 1 SALES. C. & P. Tel. of Va. 55—8$500 at 102. Washington Gas 55—8$500 at 104%,. Capital Traction Co—8 at 47%, 5 at 4715, 5 at 47%, 10 at 47%, 5 at 47. Electric 6% pfd.—3 at 11115, Potomac Electric 53 % pfd.—5 at 107%. Washington Rwy. & Elec. pfd.—6 at 987, 10 at 981;. Mergenthaler Linotype—6 at 871. les Drug Stores pfd.—10 at 98%, 10 at 98%, 10 at 985, Re‘lll Estate Mtge. & Inv. pfd.—100 at g AFTER CALL, Washington Rwy. & Elec. pfd.—10 at 98)7, 10 ot 98%, 10 at 98%, 10 at 98%, 10 at 98%, 10 at 98%, 5 at 98, 5 at 98%. ' Washington Gas 6s “B"—$100 at 104. Mel;.::thfler Linotype—10 at 88, 10 at 88, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Sweden 5% Swiss 5% Toho El Pow Toho El Pow y & Georgetown Gas 1st 55 Eotomac Elec. cong. 5% Potomac_ Eiec. 65 1953. Wash., Alex. & Mt. Verno Wash., Balto, & Annap. 5s. ington Gas s Barber & Ross, Ink., Chevy Chase Ciub 8% Columpia Country Cl: D. C. Waper Mfc. 6s. M. Cold Storage Cons. Title 6. . STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. ( Capital Traction Wash. da: % Am T&T cv 4 Am T&T 6s Power'la'% i Wash. Ry. & El. com. ( Wash. Rwy. & ElL pfd. NATIONAL BANK. Capital (14). Columbis (13 Gommercial “(stamped) * (10} Bell Pa Bell Tel Pa Washington (1) ‘TRUST COMPANY. Amer. Becurity & Trust Co. (16) 383 Continental Trust Merchants' B nilon, Trust. (8 nion Washington Loan & Trust (14} Consum Pow C Am Sug col g355E BSEER Bank of Bethesda (6§) Gommerce & Savings ( East Washington (12) urity Sav. & Gom. BE. (i1} Seventh Btreet (12). i United States (30). Washington Mechai e FIRE INSURANCE. Gen Cable 6% Gen Motors American (12) Biremen's ‘(8 National Union ' {i8) TITLE INSURANCE. Columbia (8h). Real ‘Estate’ (8h) Title & Inv. Co. @eodrich cv 88 83z 11 Steel 4%8 Inland Steel ¢ In: Cement 5 - Int Match 63 35 F 8.2858E ® les Real Est M. & O BIQIIH‘!;’ flflt‘m ¢ Ter. Ret The Carpel Cors. ¥, Mech, M Woodward Fz.ved.z.e58n ¥ W il b ks cl nase extra. extra. i e, DU PONT NAMED DIRECTOR. NEW YORK, December 9 (#).—Pierre emours. ., el dir of Pennsylvania Rallroad Co., m-._-oemi“m late A. W, Thomp- N _extra. Midvale St % German Bank 6s German 7srep *49. 59 Gen P 8y §%s 39 Gen St Cas 5%s ‘49 Gen Thea Eia s i [[on new Yorx BONDS stox EXCHANGE| Received by UNITED STATES. (Sales are in $1.000.) Sales. High. 81 10127 1224 FOREIGN. Sales. 1] Jan g Con Pow Japan 7s. Copenhag 438 '53. ‘63.... 5 Mar, N 6 842, 19 45.. 8 1 4.. 23 78°'87. 11 Kreug & Toll bs 3 New So Wales6s'57 Nord 6148 50 6! Serbs-Cr-S1 8s Swiss Confed s 32 K R MISCELLANEOUS, AbItibI P& P 6853 4. 72% Am N Gas 63343 Am S&R 18t b8 '¢ Am Sug Ref ¢s°3' %8 5 Am T&T ctrbs 160 3 1 At Gulf 698 °6 % Chile Cop db 68 *47. 27 Colon Of1 6’38 Col G&E bs May ‘53 63 Com Invest 5%s'49 12 ConG N Y 6%8"46. 50 2 Bs53. 2 8’31 2 De Edison 58°40... 11 Det £d rf6s B ‘n‘. 47, '37 %s'78 15 Int Hydro EI 6 41 Man 8 18t 738 "43. '3 10216 H 86 FINANC Private Wire Direct to The Star Office Sales High Low. Close. F114 118% 114 974 9T 9TU 1021 101% 1017% 106% 106% 106% 71, 1 101% 100% 100% 101 101 - 101 104% 103% 104 1034 102% 1084 106% 106% 106% 103% 102 102% 103% 103% 1034 101% 1017 101% 94 93% 93 60 55 B85 lgnv. 99% 100% 87 108 67 80 101% 101% T01% 95 95 95 Low. 101 21 10224 103 18 1023 Close. 101 27 102 26 103 18 1028 10216 106 8 108 10 1122¢ 106 8 108 10 11217 NorOT& L 6s'47. Nor St Pow b3 A ‘41 Nor St Pow 6s B *61 Pac G & E1 68 igh. Low. Close. 4 85 Pub Sv G ¢%4870.. 26 Pure Ol 5%8°37.., 5 A3 9 Rem R'A6%BA 4T 4 111% 111% | Richa b i 1chni'd O cal n.:c : 108 . i .. 39 98 46% 46% [SINCIOTacv A '37. 5 100% 100% 100% §7% 677 | Sincl Cr O 634 s ai 101% 101 101 Sinclair P L 5843, 99% 99% 99% Sou Bell T&T 58 °41 19 104% 104% 104 SW Bell T 63 A '5. 105% 105% 108% St O N J 104 103% 104 BrOfIN Y ¢%4s 5 99% 99% 99y Sug Es Or 78 42 23 23 28 95% 95% 96% 9 105% 106% 105% 63% 63% [T 67 80 8 o | Trans ON 8% 70 | Utd Drug ev 6s '63. 97% Utfl Pow 6%s 47 77 Vert Sug 1st 78 '4: 109% 109% 108% 108% 108% 1083 9% 94y 100 100 105 106 102% 102% 102% 102% 102% 102% 102% 102% 80% 80%; 85% 854 9% 91% 105 105 120% 120% 68% 6T 67% 104% 104% 104% 101% 101% 101% 108% 108% 108% 102'¢ 102% 102% 30 30 30 WEObB%s'37 ww. Wh Sew Mch 65 *40 Wic Spen S ct 78'35 19 10 10 Wil & Co 15t 68 °41. 97% 97 97 YouSt&T6s'78.. 21 101% 101 101 RAILROAD. Atch’on 48 1906-55. Atchison ad) Atchison gen 4896100 964 95% 96 Atch'on cv 43%85°41 144 1124 110 111 125% 126% | At & Danv 48 "4 5 484 48 484 71% 71%|AtCL1st 435 5 95% 95 95 82 84 |AtCLcol4s's2... % 90 90 102% 102% | B & 0 48 16 93% 92 92 99% 991 15 100% 100 100 84 20 91 91 91 95:6 3 104 104 104 99% 74 101% 99% 100 981 . 46 100% 100 100 83 6 108 107% 107% 97H% 92% | B&0O Swn dy 92%, 103% 103% | Ban & Aroos 621 63 i 9% sy | BKIyn Elev ¢ 105 105 105 105 6% 6% 8 86 " BR&Pitt 4%s 57, Can Nat 4%s 54, 68 99% 99 99 - 10 1041 104 104 6 101 100% 100% 14 104% 1043 104% 13 104% 104% 1041 5 100% 100% 100% 1 117% 117% 1173 3 111% 111% 111% 14 88% sew ssn 99% 100 9% 96 8 102 102% 1023 8 102% 101 1 102% 102% 102% 2 98% 981 981 25 93% 931 93y 2 111% 111% 111% 2128 98 97 o7 - 2100 101 101 <197 9Tk ety . 6 96 96 96 4 104% 104% 1043 10 67 67 67 7 94% 93% 94w 1599 98 99 5106 106 106 5 93% 93% 93 361 364 65 80 901 90% 6 328 86 89 894 81y 1% 20 98% 84 8674 % 6 101% 100% 10] 00% 101% CCC&StL 4%n () 25 96% 9615 96% C U Ter 4%s 2020.. 88 101 100% 101 “lev Term 438 '77. 10 100 100 = 100 Clev Term 5%8'72. 6 107% 107 1077 Colo & Sou 43835 51 101 100% 1007 Colo Sou 4348 2 9% 921 9214 Cuba RR68'62.... 6 59 gl 70% .20 Cuba RR rf 7% 40 Del & Hud rf 4s"43 13 21 68 63 July Can Nat 58 Oct *69. 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Banking In- stitution Congratulated on Firm’s Birthday. President Corcoran Thom and other officials of the American Security & Trust Co. received hearty congratula- tions today as the cot’np.ny rounded out e y opened rs ¢ for business on De- cember 9, 1889, at & temporary loca- tion at 1419 G street northwest, later occupying, new uarters at 1405 street northwest. In 1905 the building at Fifteenth street and Penusylvania avenue was com- pleted and has since that time been the home of the main office of the com- pany. The original issue of capital stock of $1,250,000 was increased to $3,000,- 000 in 1904 and $400,000 was added in 1919, giving this company a larger cap- ital than any other bank in the city. Alexander T. Britton was the first president and was succeeded to that office in 1893 by Charles J. Bell, who remained the active head of the insti- tution for 35 years. In 1928 he was made chairman of the board and Cor- coran Thom elected president. At the death of Mr. Bell, on October 1, 1929, the office of the chairman of the board of directors was discontinued. Impc..ant Merger in 1919. ‘Through the consummation of a merger in 1919 with the Home Savings Bank the deposits and resources of the trust company were ‘greatly increased. A comparative statement of the year 1919 with the one immediately preced- ing shows that deposits were increased from $12,099,399 to $24,940,401 and re- sources rose from $17,610,275 to $31,- 121,246. It is -now the largest trust company in the city. A 10-story addition to its main office is rapidly nearing completion. Exten- sive alterations will then be made in the present main banking room. Officers of the company are Corcoran Thom, president; B. F. S8aul and How- { ard Moran, vice presidents; Frederick P. H. Siddons, secretary; Charles E. Howe, treasurer: David N. Houston, trust officer; William L. Bedle, real es- tate officer; J. Dann Faber, auditor; , Albert H. Shillington and Robert L. Flather, assistant secretaries; William W. Keck, Edward E. Swan, Hans W. Ireland, Richard E. Harris, Percy O. Brady, Harry P. White, James C. Dulin, jr, and Charles C. Boswell, assistant treasurers; T. Stanley Holland, J. Eliot Moran, Arthur G. Nichols and Earl G. Jonscher, assistant trust officers. Present Board of Directors. ‘The directors are C. A. Aspinwall, Harry K. Boss, George W. Brown, Wil- liam M. Coates, William 8. Corby, Wil- liam W. Everett, Willlam J. Flather, i M. G. Gibbs, Cary T. Grayson, James M. Green, Gilbert H. Grosvenor, J. Philip Herrmann, James F. Hood, Joseph Leit- er, G. Percy McGlue, Edward B. Mc- Lean, Willlam Montgomery, Howard Moran, Clarence E. Norment, Newbold Noyes, Howard S. Reeside, James F. Shea, Corcoran Thom, Ben- Jjamin W. Thoron and John F. Wilkins. During the year William Mon ery, president of the Acacia Mutual surance Co., was added to the board. i donths of ‘Charis & Sem o leat rles A. and W;l‘lhmhgi sh‘nn‘r}l‘m. [em| of e Advisory Board of Branches are John M. Beane, William E. Bradley, Joseph P. Burke, Alexander 8. Clarke, Charles B. Denny, John B. Geler, M. G. Gibbs, Charles M. Ham- mett, L. A. Herman, J. Philip Herrmann, Frank A. Johnson, Charles Kattelmann, G. Percy McGlue, William Miller, How- ard Moran, James C. Nealon, M. orcoran Th Tay- lor, Henry Wahl and George M. Yeat- man. NEW YORK BANK STOCKS NEW YORK, December § X 3 the-counter market: it e ¥ America . Bk of U 684 | 0 7 66% 65% 65% .. 9 9% 9% 91% 2047. 21 110% 110% 110% OreShort LSsgtd. 1 105 106 108 Oreg-Wash ¢s°61.. 10 91% 91 91 Penna 48 lltlo. . Read gon 4348 A'07 12 Reading .30 4 5 §§§‘§§i=="‘§§’§“=§ ——— s§egsazs 1 SR Hig 4 L g= 5 5 5 va 83, 1 108% 108% 108% VaRy&Powis'sé 1102 102 102 Wabash 1st 68°39. 17 101% Wabash 2d 6s°39 5 98 ‘