Evening Star Newspaper, December 10, 1930, Page 13

FINANCIAL. 'BANKERS IN DRVE | AGAINST FORGERS Suggestions Made for Pro- /_THE EVENING STAR, WASHINGTON, D. C., “WEDNESDAY, DECEMBER 10, 1930. ; : ! FINANCIAL ADVERTISING | NEW YORK STOCK EXCHANGE ||DECLINE IN STOCK A F B A 505 INCREASE IS REPORTED Recelved by Private Wire Direct to The Star Office. NEW zfinx\‘g""""’" ]0.—‘!’!:% representatives told the fonal TI . PRICES CONTINUES % s eser e SR i By the Associated Press. - e S priations for 1931 and reports of $28.. Metropolitan Life Insurance Company we Indivilual sales compiled to 12:00—complete In 5:30 Edition. | oo, Consol Clgars (8) - 4 it . 485.000000 in_savings banks and trust aldnyatbivermmtlsfindbaviiniaioisenres Sy Sowe | % g:::::‘ ggfmnr';)f_m.no; Rail and Industrial ISsues fpression in business is leveling off and Note—All stocks are sold in one hundred-share lots | —Prev 1830~ Stock ana Sales— excepting those designated by the letter 8 (80s) (2508) L e T which shows those stocks to be sold in odd lots only. . tection of Public—Union Trust Votes Extra. BY EDWARD C. STONE. The American Bankers' Association has launched a new drive against forg- ers, in which greater co-operation is asked from depositors in attempting to thwart erations. sociation advocat these suggesti which a bank and distributed to customers: “Do mnot sign gour ordinary cor- respondence with the same signature that you use on your checks. “Do not give checks to solicitors who ask for same L in payment of i i Feamcd small amounts. . M. Willams. ot ve W M. Williams, your printed check book or canceled | checks on ur desk or in unlocked desk drawers. “Do not fail to report ‘the fact im- mediately to us if your bank statement does not reach you by the second of the month. “Do not throw a deposit slip on which | you have written your name on and | which you have made an error into a| waste basket without tearing it up. “Do not f: burn or destroy your | canceled vouchers whem you have no | T use for them. Union Trust Declares Extra. Directors of the Union Trust Co., at & meeting late yesterday, declared an extra dividend of 2 per cent, payable ber 18, to stockholders of record December 13. The board also declared the regular quarterly dividend of 2 per cent, payable January 15, to sharehold- ers of record December 31, President E. J. Stellwagen announced today. ‘The board of directors of the Chevy Chase Savings Bank has voted to pay the usual semi-annual 2 per cent divi- dend on the capital stock of the bank, on December 31, to hareholders of rec- ord on December 24. Directors of the Federal Storage Co., meeting late yesterday, voted the regu- lar quarterly dividend of 2 per cent on the company's preferred stock, payable | January 15, to stockholders of record at the close of business December 31, President E. K. Morris announced today. The Western Union Telegraph Co. has also declared the regular 1unru‘r1y dividend of $2 per share, payable Janu- ary 15, to stock of record December 23. | Williams Joins Riggs Board. i William M. Wiiliams, now a Washing- | ton lawyer, has joined the board of di- rectors of the Riggs National Bank, fol- lowing his election at the monthly meet- ing held late Monday. Mr. Williams takes the place on the board of the late John 8. Larcombe. He formerly was connected _with the Government as & solicitor with the Department of Agri- culture and as commissioner of inter revenue. ‘According to an announcement from ‘Waggaman, Brawner & Co., Inc., the | asset value of United Founders Cor- poration common on October 31 was $10.39, based upon market value of un- derlying assets of subsidiaries and mar—’ ket quotations for all minority holdings —including the substantial investment | in the Public Utiilty Holding Corpora- tion of America and in the United States Electric Power Corporation. The | asset value of United Founders Corpo- | ration common was computed at a sub- | stanttally higher figure. ; dts in 12-mutual savings banks | in Baltimore aggregated $198,704,801 at | the close of business October 31, 1930, & higher figure than either $196,729,159 on September 30, 1030, or $189.687.177 on October 31, 1929. Time deposits in §5 regular reporting member banks on November 12 totaled $256,825.000, which also showed an increase over both $256,208,000 reported on October 15 | this year and $235,328,000 on November | 13, last year, acording to the last re-| m;t of the Federal Reserve Bank of hmond. Capital Traction at New Low. Cspital Traction sold on the Wash- ington Stock Exchange today at 463 for two 10-share lots, a new low. ercial National Bank stock came out at 223, Washington Gas Light &t 119 for only two shares, while Lan- ston registered 101. Today's sales were t0o small to make a market In any stock. ¢ The bond market was led by Wash- ington Railway & Electric 4s which figured in three $1,000 and two $2,000 sales at 877%. The remaining bond trading was confined to Washington Gas and Georgetown Gas issues at re- cent levels | Business Balance Favorable. This is the season when a slowing down of manufacturing activity cus- tomarily occurs to offset the expansion in retail trade and there is no evidence that business has slipped any lower in the cycle during the past month, but the balance, if any, is on the side of | the favorable developments, says the | current issue of the American Bank- | ers’ Association Journal. The Journal continues | “Extreme pessimism today would be 8s unwarranted as extreme optimism | was a year and one-half ago. Manu- facturers and merchants, with the false upturn and subsequent reaction in bus- | iness this Spring still fresh in mind, will naturally move slowly in their commit- ments for merchandise or their expan- sion of plant facilities. The condition of the member banks in the Fede Reserve System has been steadi] strengthened by the continued liquida- tion of secured loans “The suspension of banks last month, some of which have since reopened, was & distressing development for the com- munities concerned, but the banks were, with few exceptions, relatively small and the effect upon the general business situation is therefore not believed to be serious “The backing and fi curred in commodity p lends strong SUpPOTt to the belief that the ge price level is finally becoming stabiliz- ed, which, if true, will bring an end to inventory losses and cause buyers who have been awaiting the bottom prices to again come into the market for the purchase of their normal requirements.” Other Financial Notes. The Virginia Railway has declared a dividend of $8 on the common stock, able December 31 to stock of record ber 13. The $8 dividend on the common is the same as declared at this time last year. In the preceding three years the annual dividend was $7. Offering 1= being made of $6,000,000 Virginia Public S:rvice first and re- funding 5 per cent bonds, series D, due 1950, at 90, to yield 5.58 per cent, by dicate headed by E. H. Rollins & 3 \ It is officially announced at the De- t of Justice that an Investiga- s being undertaken to determine the reason for the spread between the ‘wholesale price of bread and the cost of raw materials used in the baking of Pathe Exchange stockholders are to yote, January 5, on the sale of assets to Radio-Keith-Orpheum, under which company will receive an s d $4,- 850,000 or more. Bmith, Graham & Rockwell—Un- satisfactory economic conditions are likely to mean a poor market for stocks 814 Abitibi Pow & Paper ) Adams Millis (2).... 284 Addressorr'ph (1%). 316 Advance Rumley. ... 14'% Advance Rumley pf. % Ahumada Lead...... 91% Air Reduction (143) Aflr Way El Ap (1%) Ajax Rubber........ Alaska Juneau. Allegheny Corp Allied Ch & Dye(n6). Allis Chalmars (3) .. Alpha Port Cmt (2).. Amerada Corp (2). Am Acricul Chem., Am Agrienl Ch pf Am Agri Ch pf ctfs Am Bank Note (13) Am Br Shoe (2.40)... Am Br Sh & F pf (1) Am Brown Bov Elec. Am Can (5). ). Am Car & Fay pf (T) Am Chain (3) . Am Chicle (13)... .. Am Colortype (2.40). Am Com Alcohol Am Encaustie (1) Am European Secur. Am & For Power.... Am & For Pw pf (6). Am & For Pw pf (7). Am & For Pow 24 pf. Am Hawafian (a10). Am Home Pr (4.20).. Am Ice (14) Am Internat 1 Am Locomotive (2). Am Locomot pf (7).. Am Ma & Fy (11.65). AmMach & Metals Am Metals&Min (1) Am Power & Lt (r1). Am Pow & Lt nf (6). Am Rad&Std San(1) Am Rad & S S pf (7). T Am Republies. ..... Am Roll Mill (n2)... Am Safety Razor (5) Am Seating.... Am Snuff (13%). Am Solv & Chem . Am Solv & Chem pt Am Steel Fdy (3) Am Stores (t23%) Am Sugar Ref (5). Am Sumatra Tob. . Am Tel & Tel (9), 99 Am Tobacco (5) 100% Am Tobacco B (5). 120 Am Tobacco pf (§ 95 Am Type Fdry (8).. 103'4 Am Type Fdy pf (7). 56% Am Water Wks (n1). 98 Am Wat W 1st pf (6) 5% Am Woolen. 15% 24 19% Am Writg Paper pf.. Am Zinc Lead & Sm. Anaconda Cop (23%). Anaconda W & C (1) Anchor Cap (2.40)... Andes Copper (1) Archer-Dan-M (2).. Archer-Dan pf (7)... Armour of Del pf (7) Armour of J1l (A) Armour of Il (B) Arnold Constabl Asso Appl Ind (4) Asso Dry G (2%) Ass0 DG 1st pf Asso D G 24 pf (7). 4 Asso Ol (2) . Atch To & S Fe (10). Atch To & S F pf (5). Atl Coast Line (110) At1Guif& WI@).. At Gulf & W I pf (5) At Refining (12).... Atlas Powder (4) . Atlas Powder pf (6). Atlas Stores (nl1)... Atlas Tack Auburn Auto (34). .. Autosales.......... Aviation Corp of Del Baldwin Loco (1%). Baldwin Loco pf (7). Balto & Ohfo (1).... PBalto & Onhfo pt (4). Barker Bros (2) Barnsdall A (2). . Beatrice Cream (4). Beech-Nut Pkg (3).. Belding-Hemingway Bendix Aviation (1). Best&Co (2).. ... Bethlebem Steel (8). Bethlekem 8t pf (7). Blaw-Knox (1%)... Blu'thal & Co pf (7). Bohn Alum&Br(1%) Booth Fish 1st pt.... 4 Borden Co (k3). Borg, Warner (1)... Briggs Mfg Co. ... ., Briggs & Strat (2)... Brockway Mot Trk. Bklyn-Man Tr (4)... Bklyn-Man Tr pf (6) Eklyn Union Gas (5) Bruns-Balk-Col. . ... Bruns Ter & Ry 8... Bucyrus (1).... .. Bucvrus cv pf (2%). Budd (EG) Mfg.... Budd Wheel (1).. Bullard Co Bulova Wa Burns Bros (A) (8).. Burr Add Mach (1).. Bush Terminal (3%) Bush Term deb (7).. Butte Superior. Butterick Co . Byers (A M).. Calif Packing (4). Z Canada Dry G A (5). Can Pac new (2%).. Cannon Mills (1.60). Capital Admin (A).. Capital Adm A pf (3) Case (J 1) (6)...... Caterpillar Trac(t4) Cavanaugh-Dobbs. .. Celanese Corp Celotex Co. . Celotex voting etf: Cent Aguirre As 13%. Cent RR of NJ (+12) Century Rib Mills. .. Cerro de Pasco (4). ertain-teed Prod. .. “er -teed Prod pf Checker Cab 14.20).. Ches & Ohio (2%)... Chesapeake Corp (3) Chic & Alton . 4 Chic & Alton pt Chic Great Western. Chicago Great Wn pt Chic Mil St P & Pac. *hic M1l St P & P pf. Chi & Northwn (4) .. Chic Prieu Tool . .. Chi Pneu T pf (3%). Chic R1& Pae(7).. Chi R} & Pac pf (7). Chi YellowCab (3).. Chickasha Cotton Ofl Chi1ds Co (2.40).. Chile Copper (2). Chrysler Corp (1). City Ice & F (k3.60) . City Stores (50¢). .. City StoresA (3%). lark Equipment (2) Clev & Pitts (334). .. Cluett Peabody (3) Coca-Cola (6) Coca-Cola A (3). Colgate Pal-P (2%). Coliins & Alkman. . Collins & Alk pf (7). Colontal Beacon. .... Col Fuel & Iron (1).. Colo & South (3) ColGas & El (2).... Co! Gas & El ot A (6) ColG& ElIptB (5).. Colum Graph (a%).. Columblan Carb Comm Credit 2) Comm Credit A (3) Comm Credit pf Bt2) Comm Cred It (6% ) om In Tr 1) 80 om Inv Tr war sta. omm Solvents (11) Comwith & 8o (60¢). Comwlth & 8o pf *6) » L =TI IePY 5 > -3 B BE e T mamnn o ST YNSE YN s - o A LN ARAN T RNERN S NANNE RN R LA A OO © 20 100 15 1 27 100 7 D 92% Gen Motors pf (5). Consol Film pf (2).. 5 Consol Gas N Y (4).. b4 ConsGasN Y of (5). 1 Cons RR Cub pf (6).. 8 Consol Textile Container A (1.20). Contl Baking A. Contl Baking B. Contl Baking pf Contl Can (23).. Contl Dia Fibre (1) Contl insur (2.40). Contl Motor: Contl Ol of Del. .. Cont] Shares (1).... Corn Pr Ref (14%) Coty Inc i Cream of Wht (12%). Crosley Radio... ... Crown Cork (£2.40) . Crown C&S pf(2.70). Crown WP 1st pf (1) Crown Zellerback. .. Crucble Steel (k5).. Crucible Steel pf (7).1208 Cuba Cane Prod..... 2 o - LT TSI IV S~ PP POV VP Cudahy Packing (4). Curtis Publish pf (7) Curtiss Wright Corp Curtiss Wr Corp A.. Cushman’s pf (%) Cutler-Ham (3%). Davison Chemieal. .. Deere & Co pf (1.40). Delaware & Hud (9). Del Lack & Wn (11). Detroit Edison (8). Devoe & Ray (1.20) Dia Match ctfs (8). Dome Mines (1) Dom Stores (31. Prue Corporat (4).. m Pont da N (t4 70) Durham Hoslery pf. Eastman Kodak (18) on Axle & 8 13).. ington-Schild. itington-Schild pt.. Blec Auto Lite (6).. Electric Boat. . E] Storage Bat (5). Elk Horn Cot Erile RR... Erle RR 24 pf (4).... Evans Auto Loading. Fairbanks Co pf.... 1508 Fairbnks Morse 1.60. 2 Fashion Park Asso.. Fashion ParkAs pf.. 60s Fed Wat Sve A 2.40. Federated Dept Strs. Fid Ph Fire In (2.60 Firestone T& R (1). Firest T & R pf (6) 4 First Nat Strs (2%). 16 19 10208 Fisk Rub 1st pf ev.. 2808 Florsheim Sh A (3).. 2 Foundation Co. .. Fourth Natl Invest. Fox Film (A) (4) Freeport Tex (16). Gabriel Co (A). 5 Gathewell Co (6)....1208 Gen Am Inv pf (6 Gen Am T'k Car (34) 1 Gen Asphalt (3). Gen Cable A Gen Cigar (4) Gen Electric (1.60) Gen Elec spec (60¢). Geh Food Corp (3). Gen Gas&El A (e30 Gen G & El cv pf (8). GenG & El pf A (8). Gen Ital Ed (a2.63).. Gen Mills (3).. Gen Motors (13. 0 T e » 88 wSunde Gen Outdoor Ady. ... Gen Pub Sve b6 % stk Gen Ry Signal (5). .. Gen Ry Signal pt (6) Gen Realty & Util... Gen R & Ut pf (e6) Gen Refract (14%) Gen Theatre Equip Glilette Saf Raz (4 Gillette 8af R pf (5. Gimbel Bros. . Gimbel Bros pf (7 Glidden Co (1.20). Gobel (Adolf). Gold Dust (234) . Gold Dust pf (). Goodrich (B F) Goodyear Tire (5). Goodyear 18t of (7). Gotham Silk Hoslery Granby Consol (2).. Grand Silv Strs(h1). Grand Union. ....... Grand Union of (3) Granite City 8t (3) Grant (W T) (1) Gr North of (5) Great Nor Ore(t » 3 Soanwws wne o M e B N Y-+ TP 11 ug of (7). 2208 nanea Cop. 108 Grigsby Grunow. Guantanamo Sugar.. & Gulf Mobile & North. 1 Gulf Mob& N pf (6), 2 Guif States Steel.... 6 Hahn Dept Stores. 1 Hahn Dept S pf (6 1 Hall (WF) PrCo (2) 2 Hamilton Watch 1.80 1 Hanna pf (new) (7).190s Har Wk Ref (12%).. 2 Hartman Corp (B). . 1 Hawalian Pineap (2) 10s Helme (GW) (17)... 4 Hercules Mot (1.80). 10 Hershey Choo (5). .. Hersh Choe pf (15) Hoe (R) &Co....... Holland Furn (12%) Houdatlle Hershey.. Houston O1l (b10% Houston Ofl (new).. Howe Sound (t4%). Hudson Man pt (5).. Hudson Motors (3).. Hud&Man Ry (3.50). Hupp Motors. ve 1llinots Central (7).. 111inols Cen Is In (4) Indian Motor Cyele.. ind MotorCycle pf. Indian Refining Indus Rayon (4). Ingersoll Rand (16). Inland Steel (4)..... Insurance Sh (48¢) Ins ctfs (Md) (80¢c).. Interlake Iron (1). Inti Carriers (26e, Int) Cemy ) N ducamonmanmn ® ® Int Comb Eng pf. Intl Harvester (2%). int Harvester pf (7). Intl Hydro El A (e2) Intl Match pf (4).... Intl Mer Marine (2). Intl Nick of Can (1). Int Nick Can pf (7). Int] Paper & Pwr A.. Intl Pap & Pow (B).. Intl Pap & Pow (C).. Intl Pap & P pf (1) Intl Printg Ink (2%4) [nt Print Ink pf (8). . [ntl Salt (3) int Shoe (3) intl Tel & Tel 5 Inter Dept Strs (2).. Investors Equity (2) Lsland Cr Coal (4). Jewel Tea (16). Johns-Manvilie (3) Jordan Motor Car.... Kans City Sou pf (4) Kaufmann D8 (1%) Kayser Julius (3%) Kelly-Spring Tire. Kelsey Hayes () Kelvinator Corp .. Kennecott Copper(2) Kimberly-Clark (+3) Kinney (GR) of (&) Kolster Radlo. .. .. Kresga (S8) Co 1 60. Kress .SH) Co (p1). Kreug & Toll «1.60). 10 Krog Gr & Bak «n1). & - o @ 2 » 8 O TOTTTOTeRspts JURUPSISS - SN 01 T IOt TN D <8k wZef * 2% Sag Further in Liqui- dation. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 10.-—Nervous and irregularly lower, the stock market today was forced to accept further liquidation in both rails and industrials. The market had a number of favor- able news items to digest but they were without immediate effect upon prices. The weekly reviews of the iron and steel trade were moderately optimistic, stressing what the Iron Age called * gradual gain in demand for Fall de- livery, strengthening expectations of an upturn in production early next year.” At the same time the rate of operations was down from 39 to 38 per cent. The directors of the New York Cen- tral declared the regular $2 quarterly dividend, continuing the stock on an $8 basis. Central, which had been so| heavily sold earlier in the week, rallied a point or so on the announcement but then sold off for a loss on the day. 1 Other Changes. U. 8 Steel opened unchanged, sold fractionally higher and then reacted. showing that the market was concern- ed more with its internal situation than with trade or dividend developments. Ralls as a group maintained their | position with difficulty. Chicago & Northwestern went to another new low. | 2rnings estimatcs now are that the $4 dividend will not be covered this year. New Haven was weak and Chesapeake & Ohio reacted & point, although the latter is one of the roads making a much better showing than the average. The loss in car loadings on the week was less than the seasonal decrease, but that fact did not help the rails. ! Two or three of the industriais broke | sharply. United Fruit and Johns- | Manville were heavily sold and made new lows for the year. Copper shares | were in supply, reflecting conditions in | the metal trade. The ofls were neglected | and utilities ranged lower. American | Water Works put its common stock on | 2 $3 cash basis against the previous rate | of $1 cash and 5 per cent in stock. | Water Works scld off 2 points after this announcement had been made public, Traders Watch Averages. Traders watched closely to see wheth- er or not the so-called pivotal indus- trials would break the November 10 lows. During the morning U. S. Steel held well above that critical point, but | Westinghouse Electric dropped to with- {in a fraction of its record low, not- withstanding that the regular dividend was declared. American Can was well above its previous low, although down on the day, and General Motors was comparatively steadv. For some of these stocks support was in the market, temporarily at least. | The market was worried over the weakness in bonds, not understanding just what was back of the liquidation in that quarter, | Companies. included in this single America’s future. \ INDEPENDENCE SHARES CORPORATION PFidelity-Phila. Trust Bldg. PHILADELPHIA Sha Washington Bldg. in our Over a Third of a Century Without a May National 2100 THERE We Recommend Independence Trust Church, Wootton & Co. PROFITABLE WORK FOR UNEMPLOYED Those surpluses you have from time to time can be most profitably used in an investment In them there is no worry concerning either interest or principal. The former is fixed Loss definitely and the latter is fully secured by improved Washing- ton real estate. from $250 up. B.. F. SAUL CO. nearing an end. Forty per cent of the country’s banks, it was disclosed, have decided to enlas their appropriations for the new year, per cent will retain last year’s figures and the others will cut expenditures. An average gain of 224 per cent is the net result of the budget making. Reports of retail turnover conmtinue quite favorable, suporting the bellef that much of the “looking” hitherto done by consumers is now being con- verted into actual purchases. A sub- stantial percentage of consumers, how- ever, is believed to be still shopping around for lower prices. M.g‘n‘e“y‘ to”’Lonn = hlm l,“‘ of fln-_l Joseph 1. w LR ‘2‘0" Business Opportunity Large Radio and Electric Re- frigeration Manufacturer, with products that have enjoyed na- tional public acceptance, desires additional retail dealer outlets. Products are distributed in Wash- ington and have been sold suc- cessfully in Washington for sev- eral years. If you contempiate Your® present. pasine® oF sddimg your e or additional fast-selling lines, don't mss investigating this opportun- ity. Address replies— Box 4-E—Star Office Fidelity Building & Loan Association Under Supervision of U. 8. Treaswry Department Is 7% Paying ON SAVINGS An ideal place for part of your Christmas Check Fidelity Bldg. & Loan Assn. 313 National Press Bldg. ai 243 Woodward Bldg. Name Address Which Fixed Trust? Wisdom would say the one with complete diversifi- cation, including, in its portfolio, not only Industrials, Utilities, Rails and Oils, but also Banks and Insurance Independence Trust Shares American Telephone, General Electric, Union Pacific, Standard OQil’of N J., Chase National Bank and Aetna Life Insurance Company are some of the fifty leaders convenient investment in Price at the Market Ask your Bank or Investment Dealer for particulars. SOUTHERN INVESTMENT DEALERS INC. ‘Washington Building ‘WASHINGTON, D. C. res Met. 2721 FUNDS \ 6% FIRST MORTGAGES be purchased in amounts 925 15th St. N.W. IS NO SUBSTITUTE FOR SAFETY Large or Small projects. Our org-niz- ion is fuuy aquiprea to assure immediate action on your application. Consult WEAVER BR REALTORS Washington Building District 9486 Loan Correspondent lct%:ro :agrf Ll/cnlnwo;;nu Co:u"mv Loans made in the District of Columbdia end Neardy Marviand end Viroinia No Endorser Up to $300 Under State Supervision is H.oliday Season Naturally Brings a Host of Bills It is not necessary to begin the New Year burdened with financial cares . . . for we can consolidate your debts into one, and allow you to repay ws in small monthly payments . . . arranged to conform with your income .. . without the embarrassment of securing endorsers. Our Service is Personal and Confidential, and . additional information will be cheerfully given. 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A statistical service covering current information on the stocks in each p keeps the holder aware of the facts regarding the companies in which he is financially interested. A practical gift for the young man or woman. A booklet fully describing this plan and giving the selected stocks will be sent wpen request. J-A. M. Iglehart & Co. Investment Banhers 426 Shoreham Building ~ Washington, D. C. Telephene District 3581 Nembers Nrw Youx Srocx Excuawes Tiwonr Stock Excmanar N.Y.Cons Excuance (Assoc.) Countless investorl, confl- dent of the future of general business, are today buyin, fixed trusts because they fin it difficult to determine which industry will move ahead first. The fixed trust as a cross- section of all American indus- try is, therefore, the logical answer. Thus far investors have purchased cver eleven and one-half million— CORPORATE TRUST SHARES Offering price is based on the current quotations of the deposited stocks plus the value of other Trusteed property. Price at Market, about 6% per share Moody’s Composite Portfolio Rating “A" CORPORATE TRUST SHARES represents an ownership interest in deposited com. mon, stocke of thess Aschison Seand. Oil (New Jersey) Seand. Oil of New York . Oil of Ind. Deseriptive circular en vaquist s GrAHAM, PArRsoNs & Co. 1422 WALNUT STREET 48 WALL STREET PHILADEWPHIA NEW YORK 300 SOUTHERN BUILDING—WASHINGTON ¢+ District 9310 some time to , and it is prob- (Continued ol Page 1 Tecoveries 'mw:'umm. Conde Nast Pub (3).. - & g . -