Evening Star Newspaper, December 17, 1930, Page 13

. « to relieve the unemployment situation. FINANCIAL. HOSKINSON NAMED + CONVENTION AIDE Riggs Bank Official Appointed Head of Committee on Sports. BY EDWARD C. STONE. Hillery G. Hoskinson, vice president ot the Riggs National Bank, has been Sppointed chairman of the sports com- | tee for the next District Bankers' Asso- ciation convention, according to an- nouncement today by F. P. H. Sid- dons, general chair- man. B. Agee *Bowles, vice presi- dent of the Poto: mac Savings Bank, has been made vice chairman of the same commitee. . Mr. Hoskinson, Wwho has been with Riggs Bank since 1900, was born in ‘Washington in <887 and received nis education in public private schools here. He isa mem- ber of the Board of Trade and belongs %o the Washington Golf and Country Club, Blue Ridge Rod and Gun Club, and the Southern Maryland Societ; He has been active in the work of the local bankers’ association, having served many times on the Commercial Trade Activities Committee and the Pub- Mcity and Press Committee. He has been particularly useful to the associa- tion as chairman and vice chairman of the credit bureau, which he was especially instrumental in getting es- tablished on a solid footing. Mr, Hoskinson has also served on the ouncil of administration and has been vice president for the District of Colum- bia of the national bank division of the American Bankers' Association and Bn alternate member of the Nominating Committee of the A. B. A. In addition t0 his standing committee work, he was chairman of the convention Trans- portation Committee in 1926 and in other years served on the Program and Entertainment Committees. Bowles Also Experienced Banker. B. Agee Bowles, the vice chairman, has been with the Potomac Savings Bank for 27 years. He was born in Goochland County, Va., attended the Washington public schools and holds & law degree from Georgetown University. He is President of the Georgetown Citizens’ Association and vice president ' of the Federation of Citizens’ Associ- ations of Washington. His work for the District Bankers’ Association includes membership on the council of administration, Commercial +Trade Activities Committee, Unprofit- able Accounts and Business Activities, Publicity and Press, Advertising and Relations Committees. On several of these committees he has served several years. Mr. Bowles was chairman of the Con- wention Transportation Committee in 1925, chairman of the same com- mittee in 1924, vice chairman of the Entertainment Committee in 1928, member of the Press Committee in 1929 and the Transportation Committze in 1930. H. G. Hoskinson. More Local Dividends Voted. Directors _of the Columbia Plano- graph Co., Inc, have declared the reg- ular semi-annual 3 per cent dividend and also an extra dividend of 2 per ,ocent, according to announcement today by John A. Eckert, president and gen- eral managef of the company. Both disbursements ard payable January 1. The company has paid a regular 3 per cent semi-annual dividend for many . In spite of present conditions concern has done an unusually good business during the past year and the officials were much pleased to be able to add an extra payment at this time. Directors of the American Security & “Trust Co. at a meeting late yesterday declared the regular quarterly dividend of 3 per cent and an extra dividend of + 2 per cent, both payable January 10 to stockholders of record December 31. The directors also voted the usual Christmas ‘bonus for all officials and employes of the trust company: Tobacoo Prices Hurting Trade. Preliminary reports from the Federal Reserve Bank of Richmond indicate that trade in the large cities in the fifth district so far in December has been good. The recession in November, although not as severe as in other Re- serve districts, was due, among other causes, to the textile strike in the Dan- wille area and to lower tobacco prices. November tobacco sales in Virginia exceeded in poundage- those of Novem- ber of last year, but the price was about one-half, the average this November being $90.18 compared with $18.13 in November, 1929. Poor quality, due to the drought, was partly responsible for the lower prices. From Atlanta comes the report that trade, in the sixth district is so brisk that the stores are employing practically as much help as in previous years Along with the encouraging signs- in trade come reports of plans for new industries, which are expected greatly ‘The largest of these projects will be the construction in Atlanta of the Dixie Teminal, 24-story market building. Lanston and Carpel Active. Lanston Monotype stock was one of the most active issues on the Washing- ton Stock Exchange today, 115 shares g hands at 100. The sales were m:'dg in eleven 10-share and one 5-share Carpel Corporation figured in a 200- share turnover. The food distributing company’s stock opened with a 50-share sale at 23. One hundred shares then sold at 223% and 50 more at 22. Pederal-American Co. common came out at 29, 30 shares of Merchants' Transfer & Storage common sold at 107 and 100 shares of National Mort- gage & Investment preferred moved at 5. After call Peoples Drug Stores pre- ferred registered three 10-share sales at 97, The first sale in the newly listed ‘Washington Gas Light 4%s took place today when $1,000 bond changed hands 8t 99. The closing quotation on this fssue was 987, bid and 99, asked. Washington Gas 5s sold at 102, and Washington Gas 6s, series B, at 105 and 106%. The Gas A bonds moved at Fecent levels, Heard in Financial District, ‘The board rooms in local brokerage houses were jammed to the doors again today as traders watched the opening of the New York Stock Exchange and the later quotations. Several local bar have alrcady put up their Christmas decorations includ- brilliantly lighted trees. t is stated that unusual interest is still being manifested in the 1931 Christ- mas Savings Clubs, indications pointing % 8 new record for the amount sub- scribed in Washington OIL PUBLICATION URGES CUT IN GASOLINE OUTPUT By the Associated Press. NEW YORK, December 17.—Point- out that it is necessary for ofl ers to hold down their production of gasoline to avoid a bad gasoline mar- ket next year, the Standard Oil Co. of New Jersey, in its publieation, the Lamp, says its subsidiary and affiliated companies ha: THE EVENING NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. are sold in designated by one hi undred-share the letter s (80s) (250s) lots which shows those stocks to be sold in odd lots only. Individual sales combined to 1:30—complete in 5:30 Edition. —Prev.1930— High. 4214 8615 37% 94 32 28% 41% 1% 156% 36 215 9% 15% 35% 104 33 126% 68 424 1561 150% 191% 5: Stock and Low 815 36 14% 82% 21 s 13% Abitibi Pow & Paper Abitibi P& P of (6). Advance Rumley pf. Ahumada Lead. . 884 8 Airway El Ap (60¢). % Ajax Rubber.. .o 415 Alaska Juneau(40c). 6 Albany Wrap Paper. 5% Allegheny Corp..... 60 Alliance Realty $3% 174% Allied Ch & Dye(n6). 120% Allied Ch & D of (7). 31% 12 17 1% 1% 19 184 Alpha Port Cmt (2) Amerada Corp (2)... Am Agrioul Chem Am Agri Chem ctfs Am Agrieul Ch of .. Am Agri Ch pf ctfs 45': Am Bank Note (13) .. 60% Am Bank Note pf (3) 3 Am Beet Sugar..... 15% Am Bosch Magneto. 33 Am Br Shoe (2.40).. Am Br Sh & F pf (1) Am Brown Bov Elec Am Can (165). . Am Can pf (7) Am Car & Fdy (§) Am Chain (3). Am Chicle (13)..... Am Colortype (2.40). Am Com Aicohol. ... Am Encaustic (1) Am Euronean Secur. Am & For Power. ... Am & For Pow 24 pf. : Am Hawalian (a10), Am Hide & Leather, Am Home Pr (4.20). Am Ice (14). Am Ice pf (6). Am Internat 2 Am Locomotive (2 Am Locomot pf (:‘) 6% 104% 140% Am Metals&Min (1), Am News (Jt4)...... Am Power & Lt (r1). Am Pow & Lt pf (6). Am Rad&Std San(1) Am Republics. ... Am Roll Mill (n3)...424 4 Am Safety Razor (5) Am Ship & Com..... Am Shipbullding (5) Am Sm & Ref (4)... Am Sm & Ref pf (7). Am Snuff (13%).... Am Solv & Chem .. Am Solv & Chem p: Am Steel Fdy (3). Am Steel Fdy pf ( Am Stores (12%)... Am Sugar Ref (6)... 5 Am Sumatra Tob.. 1725%Am Tel & Tel (9) 98% Am Tobacco (5).... 99% Am Tobacco pf (8).. Am Water Wks (3).. Am Woolen pf. . Am Writ Paper ctfs. Am Zinc Lead & Sm. ‘Anaconda Cop (2%) Anaconda W & C (1) Anchor Cap (2.40) Andes Copper (1). Archer-Dan-M (2) Armour of Del pf (1) Armour of Il (A). Armour of Ill (B).., Armour of Ill pf (1), Arnold Constable... Artloom Corporation Asso App) Ind (4)... Asso Dry G (2%)... Asso D G 1st pf (6).. ASS0 011 (2).vernen Atch To & S Fe (10). Atch To & S F pf (5). Atl Coast Line (110). At Guif & W1@3).. Austin Nich pr Autosales..... . Aviation Corp of Del Baldwin Loco (1% ). Baldwin Loco pf (7). Balto & Oh1o (7).... Bang & Aroos pf (7). Barker Bros (2)..... Barker Bros pf (6%) Barer— Dividend Rate. Add 00. 1 Allis Chalmers (3) ... 23501 b X 33% 120% 1 8% 111% 104% 142% 142% 3 145 q 1 508 % 362845179% L70% 17 103 Am Tobacco B (5)... 126 104% 99% 3 54 22 9 14 61625529 4 10s 53 408 608 108 1 Barnsdall A (2)..... 117 Beatrice Cream (4).. Beatrice Cr pf (1) Beech-Nut Pkg (3). Belding-Hemingway dix Aviation (1). t & CO (2)... ..o lehem Steel (6). jehem St pf (7). Blaw-Knox (1%).... Bohn Alum&Br(1%4) Bon Ami (A) (15)... Booth Fisherles. . Borden Co (X3)...... Borg, Warner (1)... Briggs Mg Co. . Briggs & Strat (2)... Brockway Mot Trk.. Bklyn-Man Tr (4)... Bklyn-Man Tr pf (§) Bklyn &Qu Tr p(5). Bklyn Union Gas (5) Brown Shoe (3) Bruns-Balk-Col. Bruns Ter & Ry Budd Wheel (1). Bullard Co.... Bulova Watch (3)... Burns Bros (A) (8). Burns Bros pf (7) Burr Add Mach (1).. Bush Terminal (2%) Bush Term deb (7).. Butte Cop & Z (50¢) Butte Superior Byers (A M) Calif Packing (.l) “ee Calumet & Hecla.... Campbell Wyant (2). Canada Dry G A (3).. Can Pac new (2%).. Cannon Mills (1.60). Carital Admin (A).. Car Clin & O sta (5).. Case (J 1) (8)...... Caterpillar Trac(t4) Cavanaugh-Dobbs. .. 8 1 2 3 51 55 515 T 4 15 6 1 65 30 . 150 2 2 41 2 508 18 308 3 5 12 10 b 3 35 121 13 2 108 165 “ 1 Cavan'gh-D pf (%) -lo;l; Celanese Corp. Celotex Co Celotex vot. Certain-teed Prod Certain-teed Prod pi Checker Cab (1.80).. 14 Ches & Ohfo (2%)... Chesapeake Corp (3) Chic & Alton Chic Great Western. Chicago Great Wn pf Chic Ml St P & Pac, Chic M1 St P& P pt. Chi & Northwn (4).. Chi & N W pt (). Chic Pneu Tool. .... Chi Pneu T pf (3%) Chic R 1 & Pae (7). Chi R 1 & Pac pf (1) Chi YellowCab (3). . Chickasha Cotton Oil City Ico & ¥ (k3,60).. City Ice & F pf (83%) City Stores (50¢). ... 20 City StoresA (3%).. 17 Clark Equipment (2) 21 Cluett Peabody (3). . 91% Cluett-Peabdy pf (7). 133%- Coca-Cola (8). . 454 Colgate-Pal-P (23%). 12 Collins & Atkma 8% Colonial Beacon 18% Col Fuel & Lron (1).. 10 Colo Fuel & Ir pf (8).100s 103 30% Col Gas ). 99 Col Gas & El of A 74 Colum Graph (a% 66% Columbian Carb (t 16% Comm Credit (3). 80% Comm Credit 68 8 28% 25% 30 27 364% 35 1% 15% 10 9% 104 9% 18 174 28% "5,5 6 314 o 1% 1w 48 o 4615 26% 26% 76 75's 18% 16 21 19% 734 734 334 20% 3 37 44 394 131% 131% 37 36 6 985 122% 122% 53 4% 1T% 16% 1% 1% 4% 3w 25 20% 20% 28% 27 12% 10% 14% 13% 67 65 3% 3 1% 102% 100% 99 97 394 38 18% 16% % 106% 106'y 10 9! 58 584 0% 6215 54% 54% 100% 99% 8 14% 82% 32% % 4 13% 4 ™ 30m 103% 103y 5 1 30s 5 408 28 50s 2 r 108 245 2 3 13 18 11 104 26% 494 94 21% 17% 2 T 143% 136% 50% 650 45 44 13 12 8% 8% 224 10% 100 Prey. Close. Close 9 39 15% 8214 22 3 12 % 95% % £y 6% 64 T 60 M 40 14% 82% 224% 3 ~Prev.1930—~ High. Low. 21 20% Comm Cred pf (1%). 171 Comm C 1st XwW (6% ) 40¢ 224 Com In Tr (£1.60)... 89 Comm Inv Trpf 6%.. 80 Com InT cv pf (e6).. 3 - Com Inv Tr war sta.. 14% Comm Solvents (31) 7% Comwlith & So (60¢). 89%4 Comwlth & So pf 16) 7 Congoleum-Nairn 18Y% Congress Clgars (4). 26 , Consol Clgars (8) . 57 Consol Cig pr pf 6% . 53 Con Cig 12 Consol Film (2)..... 16% Consol Film pf (2).. 79 Consol Gas N ¥ (4 814 Container A 2 Contatner B ., 17% Conu Baking A. 2 Contl Baking B. 66 Contl Baking pf (8) 44% Conti Can (2%4).. 9% Contl Dia Fibre (1). 39% Conyj 1nsur (L.40) Contl Snares (1).... Corn Pr Ref (14%). 140 Corn Prod pt (7). 84 Coty Inc. 25l Cream of Wht (12} 4% Crosley Radio Crown WP 1st p: 4% Crown Zellerback. .. 504 Crucibie Steel (K5). . 101%s Crucible Steel pt (7). 1 Cuba Cane Prod 3 Cubao....... 3 Cuban-Amer Sugar.. o 26 Cuban-Amer Sug pf. 120s Y% Cuban Dom Sugar... 20 Cudany Packing \4). & i Curtis Publish (17). 113% Curtls Publish pf (7) 2 Curuss Wright Corp 34 Curtiss Wr Corp A. . 98' Cushman’s pt (7).. 35'a Cutler-Ham (3%) 10% Davison Chemical 14 Debenhams (70c) 20 Deere & Co pf (1.40). 131 Delaware & Hud (9). Del Lack & Wn (7). 1623 Detroit Edison (8). . 99 Devoe & R 1st pf(7). 6% Dome Mines (1).. 12 Dom Stores (11.20). 57% Drug Corporat (4) 6% Dunhil] Int (1) 13 Duplan Silk (1). 801 Du Pont de N (14.70) 114% Du P de N deb pf (§) 100 Duques Lt 1st pf (6). T EasternRoll Mills.. 3 7% 142'x Bastman Kodax (18) 79505150 11% Eaton Axle&S (3).. 35 13% 2% Eitington-Schild.... 1 35 Eitngton-Schild pf. 1 33 Elec Auto Lite ¢6).. 101 21 Electric Boat. 10 35% El Pow & Lt (1 187 85 ElPow& Ltpf (8).. 3 100 ElPow & Ltpf (1).. 2 47y El Storage Bat (6).. 30 38 Endicott-John (5)... & 107% Endicott-John pf (7) 367% Eng Pub Serv (2.40). 32 EqOffic Bldg (2%).. 22% ErleRR.. 27 Erle RR 1st pf (4) 31 Erie RR 2d pf (4)... 6% Eureka Vac Cleaner. 4 Evans Auto Loading. 16 21% Exchange Buf (1%). 50s 31 FairbanksCopf.... 60s 21 Fairbnks Morse 1.60. 2 102 Fairbanks M pt (7).. 50s 31 Fash.on Park Asso.. 2 12% Fashion ParkAs pf..150s 45% Fed Lt& Tr ($1%).. 6 5% Fed Motor Tr (80c). 12 'Federal Screw (1)... 1 22 Fed WatSvc A 2.40, 37 13% Federated Dept Strs. 5 Fid Ph Fire In ( 0% Filene’s pf (634).. 15% Firestone T & R (1) 63% Firest T & R pf (6)., 39% First Nat Strs (2%). % Fisk Rubber........ 19 1% Fisk Rubber 1st pf.. 2708 33 Florsheim Sh A (3).. 30 13% Follansbe Bros (1).. 2 8l Foster Wheeler (2).. 32 & 16% Fox Film (A) (4)... 79 Frank Simon pf (7). 2414 Freeport Tex (45) 80 Fuller pr pf (17.94).. 10s 25 Gabriel Co (A)...... 1 383 208 90 s Gen Asphalt (3).. Gen Baking pf (8) 19% Gen Cable A. 57 GenCable pf (7).... 33% Gen Cigar (4)...... 110% Gen Cigar pf (7).... 42% Gen Electric (1.60).. 717 11% Gen Elec spec (60c). 12 46% Gen Food Corp (3).. 724 4 Gen Gas&El A(e30c) 36 38 GenG&Elevpf(§), 3 324 Gen Ital Ed (a2.62).. 2 40% Gen Mtlls (3). . 89 Gen Mills pf (6) 31% Gen Motors (13.30). 92% Gen Motors pf (5) 5 Gen Outdoor Adv. 8 21% Gen Out Adv (A) (4) & 13 Gen Pub Svcb6%stk. 15 56 Gen Ry Signal (5). 7 100% Gen Ry Signal pf (6) 2008 4% Gen Realty & Util... 6 61 GenR&Utpf(e6).. 7 40 Gen Refract (t4%).. 14 7 Gen Theatre Equip. 23% Gillette Saf Raz (4) 57 Gillette Saf R pf (5). 4% Gimbel Bros 3 819 5 Glidden Company.... Glidden pr pf (7). 3% Gobel (Adolf).... 29% Gold Dust (2%).. 15% Goodrich (BF). 6612 Goodrich BF pt (7). 36% Goodyear Tire (5) 78% Goodyear 1st nf (7. Stlk Hostery Gotham pf xw (7)... Graham-Paige. . Granby Consol (2).. Grand Silv Strs(h1). Grand Unton 19% Granite City St (3). 27 Grant (W T) (1). Gr North of (5). Great Nor Ore(f G Great Western Sugar 16 Guif States Steel. 26 Hackensack W(1%). 2¢ 7% Hahn Dept Stores. .. 17508 56 Hahn Dept Spf (6%) 1 16 Hall (WF)PrCo(2). 3 85 Hanna pf (new) (7), 40 Har Wk Ref (1234). 10% HArtman (A) (2). 37% Hawafian Pineap 2% Haves Body 77% Helme (GW) 60 Hercules Powd (3) . 2 116% Hercules Pow pf (7). 30s 70 Hershey Choc (5)... 12 83% Hersh Choo pf (15), 26% Holland Furn (f2 & Hollander Sons. 72 Homestak 4% Hou Household Fin pf (4) Houston 01l (b10%). Houston Ofl (new).. Howe Sound (t4%).. Hud&Man Ry (3.50). Hudson Man pf (5).. Hudson Motors (3).. 7% Hupp Motors. .- 66% [llinots Central (7).. 70% Illinois Cen 1s In (4) 2 Indian Motor Cyel 20 Ind MotorCycle pf. 3 Indian Refining. ... 4 Indian Refining rots. 31 Indus Rayon (4).... 147% ingersoll Rand (16).. 58 Inland Steel (¢)..... 7% Inspiration Copper. . 49 30 7 20 35 74 18 = AFTER EARLY DROP Market Reverses Trend in Afternoon, Canceling Morning Losses. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 17.—In the heaviest trading since October, today's stock market first broke severely, carry- ing prices for leading shares into new low ground and then as abruptly turned about in one of the most pronounced rallies since the current reaction began. The upturn more than canceled the early loss. The rebound was the largest in the general industrials and in the utilities. The ralls came back from their lows, but many of them in midl(gzrnoon were still selling under Tuesday's close. The selling in the rails proceeded without _opposition _directly from the start. The November earnings state- ments are due to appear any day now, and they are expected to make tunh;; unfavorable comparisons with those the same month a year ago. But no matter how bad they are today's prices discounted and over-discounted the worst possible. The only explanation for the extent of the decline in the rails is an_investing public and a speculative following that has completely lost its * | sense of proportion. Early Decline Is General. Seasoned dividend-payers of the first rank, such as Atchison, Union Pacific, Pennsylvania, Norfolk & Western and New York Central, made new lows, not simply for this year but for several years. There is no question of mainte: nance of dividend rates in any of these cases and the ylelds are generous, but these stocks sold Df{ n)m\')nl leeufly as the purely speculative carrier issues. ck?mpzn.k?:ei Ohio, at 33, was down 7 points in only a little over a week, and this road has been making an ex- ceptionally good showing. New Haven, another road which has met the test of highway competition unexpectedly well, went to a new low today, and there was a long list of other rails breaking through their previous resistance points. | ‘The unfavorable conditions in the oil trade, which the leaders in the industry have emphasized in published state- ments in much the same manner as the raflroad executives have catalogued their troubles, brought new selling into the oil shares. Standard Oil of New Jersey at 44 was at a new low and so was Standard of New York under the 20 mark. Practically all the stocks of the active independents went into new low ground. In the utility list American Telephone & Teiegraph yielded, selling under its previous minimum price, while among industrials Allled Chemical, Johns- Manville and Radio went along. Food shares were under special pressure, with new lows for National Dairy Products and General Foods. Notwithstanding the wgakness in stocks, the news had its Bright spots. The Iron Age in its weekly review of conditions in the steel trade put spe- cial emphasis on the increase of forward contracting and sounded an optimistic note throughout. The General Motors report. of domestic sales to dealers in November, showing a sharp advance over October as well as an increase over November, 1929, was certainly encourag- ing. But the market is past the stage where it pays athention to items like these, . Liquidation must run its course, now that it has gained such great headway. sty NEW INVESTMENT TRUST STAR, WASHINGTON, D. C., WEDNESDAY, DECEMBER 17, 1930, ISTOCKS IN REBOUND) Brokers’ Comment RK, —Commis: NEW YORK, December 17.- sion house letters today talked rather confidently of a “selling climax” which they expected to appear very soon. Many referred to the hysterical state of public opinion. Comments follow: Shields & Co.—The character of short selling yesterday warrants some techni- cal recovery, but the market as yet gives no indication of the kind of leadership that will be necessary for a real turn. Jackson Bros., Boesel & Co.—It must be inferred that the renewed liquidation Wwhich has appeared in the stock mar- ket during the last few days is of the concentrated type which results from the clearing up of special situations. Some of it is attributed to banking channels, and in all probability repre- sents necessitous liquidation. Some of it is undoubtedly coming from investment trusts which are selling portfolio securi- ties and retiring the capital shares of these trusts with the proceeds. Most of the urgent liquidation which has ap- peared in the oil group is credited to oil investment trusts, which enables these trusts to buy their own securities in the open market at a great discount when compared with the liquidating ;'alllue of the ofl securities in their port- olios. Tobey & Kirk—Year-end adjustments both in the stock market and general business are forcing sales of stocks to meet immediate cash requirements, and the result is extraordinarily low prices for many meritorious stocks. The ques- tion of earnings and prospects is largely subordinated to these monetary needs and consequently the market has sagged steadily, with only temporary rallies. Hornblower & Weeks—Even if we are in the process of turning, which is proh- able, we are bound to ?:ce at least one more day of very erratic fluctuations, and we believe it is very worthwhile for traders to maintain their positions on the sidelines rather than risk an- ticipating the bottom of the current | . R liquidation movém Babcock, Rushton & Co.—It is ob- vious that the bank failure ni New York last week made a bad impression in Europe. The very name of the bank was a misfortune. ~Its actual impor- tance and its principal types of banking business was not understood abroad. It is possible thai some of the recent sell- ing came from abroad. Redmond & Co.—The action of Tues- THE COMMERCIAL NATIONAL BANK Let us serve you in’ all banking and fiduclary matters. Interest paid on savings accounts from day of deposit to day of withdrawal. Resources over $19,000,000 WADE H. COOPER. President 14th and G Streets " First Mortgage Loans Lowest Rates of unterest and Commission Thomas J. Fisher & Company. Years of Investment Experience Municipal, Legal and Guar- anteed Bonds; Bank Stocks, Insurance Stocks, Preferred Stocks, Common Stocks. Robert C. Jones & Co. Investment Bankers PLANNED IN CHICAGO Special Dispatch to The Star. CHICAGO, December 17.—An entire- ly new type of investment trust will soon be offered to the public. Instead of the conventional one phase of in- vestment, the new trust embodies three phases. The three series consist of a dis- tributive fixed trust, a cumulative fixed trust and a semi-cumulative fixed trust with provisions for elimination and substitution. Stocks in each series con- sist of railroads, public utilities, oils and industrials. AR MARYLAND ANIMALS SENT TO FOREIGN COUNTRIES By virtue of the fact that they are 80 close to one of the largest seaports in the country, Maryland breeders of pure-bred live stock may be in an ad- vantageous position for selling pure- bred animals to foreign countries, it is declared by members of the live stock fepfiflmem of the University of Mary- land. It is pointed out that within the past few weeks a part of a large shipment of cattle, sheep, hogs and goats, sent by the United States Government to the naval and_experiment stations in Guam and the Virgin Islands, included two pure-bred Duroc-Jersey boars belonging to Hobart G. Hutton, Brighton, Md. One of Mr. Hutton’s animals is to go to the naval base at the Virgin Islands, while the other will be left at Guam. In addition to the above animals from this State, the University of Maryland supplied the Government with two pure-bred Duroc-Jersey gilts for the Guam Station. SILVER QUOTATIONS. NEW YORK, December 17 (#).—Bar % | siiver 317 % TH TH Mon:z .t'o Loan i haggy -1 A L K ) K Juup'.. :“a.z"a'??fiv Money on Hand to Loan on First Deed of Trust 6% Interest Reasonable Commission and WE MAKE LOANS On improved real estate situated in Washing. ton and its suburbs. WE have first mortgage money to loan for re- financing or construction Feady to give. immediats ve assistance. We purchase 2nd trust notes secured by improved Capital Resources, $3.800,000 Aodils 1610K ST.N.W. Investment Building Telephone Met. 2922 “Consult Us About Your Investment Problems” FINANCIAL. day's market, which broke sharply into new low ground on an increased volume of selling, showed many of the charac- teristics of the culminating phase of the liquidating movement, the climax | of which may be reached in today's early trading. . iy Mozambique has placed restrictions | on the use of all articles which might | be used for distilling liquor. | REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD priates o, for 3.6 of [ National 0478 years, 1520 K St. N.W. Loans made in District of Columbia and 20-mile radius within 24 hours. No Endorser Up to $300 Under State Supervision This Holiday Season Naturally Bring’s 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 us in small monthly payments . . . arranged to conform with your income . . . without the embarrassment of securing endorsers. We give special and prompt attention to applicants desiring money for Christmas, Our Service is Personal and Confidential, and additional information will be cheerfully given. People’s Personal Bankers, Bethesda Personal Bankers, Inc. Inc. 3308 Rhode Island Ave. 6982 Wisconsin Ave. Mt. Rainfer, M. thesda, Md. Hyattsville 1716-1371 Public Small Loan Co., Inc. Rosslyn, Va. 7 Z 374 Maryland Personal Bankers, Inc. 8405 Ga. Ave., Silver Spring, Md, Phones: Shepherd 2854-2833 The Above Concerns Operate Under the Uniform Small Loan Law as Sponsored by the Russell Sage Foundation and as Super- vised by State Banking Department A GRS GIVE YOUR MONEY A CHANCE TO WORK You can invest with absolute confidence in our 6% FIRST MORTGAGES —and reap the advantage of a continuous and fixed dividend, that never varies during the term of the mortgage; and is always paid on the designated dates. The amount invested makes no difference in the percentage of earning. Much or little in amount—it’s 6% for all—all the time—with principal secured by improved Washington Real Estate, conservatively ap- praised. May be purchased in amounts from $250 up. B. F. SAUL. CQO. National 2100 925 15th St. N.W. Over a Third of a Century Without a Loss IS NO THERE SUBSTITUTE FOR SAFETY HOW TO RECOGNIZE A GOOD UTILITY BOND No. § of & sevies of adversiemenss An Anchor against the Tid~ 15% more revenue from Gas and Electricity good business recedes, it is best to have investments in an in- dustry that holds like an anchor against the tide. Electricity and gas are such industries. During 1930 general business activity was 10% below normal and 179, below its 1929 level. Yet during the first ten months of 1930 the electric light and power in- dustry's gross revenue increased 3.9% over 1929. This industry has decrease in annual revenue. Gas also shows stability of revenues. During the first nine months of 1930, manufactured gas companies had sales about 1% greater than for the corresponding period of 1929. In view of the re- markable stabifity of the revenues of gas and electric industries, it is desirable to invest in those public utility com- panies that derive the Jargest proportion of their income from these Swo somrces, Reference to the chart shows that of the total gross revenue of the operating prop- erties of the Associated Gas and Electric Company, 75% is derived from the sale of electricity and 15% from the sale of gas, a total of 90% from these preferred types of business. Correspond- ing figures for 20 leading utilities as a group show 59% of gross revenue from electricity, 19% from gas, a total of 78%. The strong position of the Associated Company is reflected in the earnings avail- never shown a able for the payment of bond interest. Earnings, “‘over-all’", after depreciation an 2.01 times bond interest requirements com- pared with 1.89 times for bonds of the 20 other (utilities as a group. To enable investors to stody the sound iowest- ment merits of these bonds we offer a compar- ative analysis of Associ- ated bondsandotherutil- ity bonds, based on tests such as are used by insur- ance compaaqics and io- Banking hackcs, L Amd‘findpb,v‘ifimiwrfmfl‘ad-nmbmflam,-qh obtained by writing for folder L. 138. ‘\_—_. General Utility Securities Incorpomaied 61 Broadway N New York