Evening Star Newspaper, December 29, 1930, Page 13

FINANCIAL, GHANGE I BROKE OFFE ANNDUNGED ~P "Harriss & Co. Will Take|agnis¥ 2% 8 NEW Note—All stocks are sold n one hundred-share lots excepting those designated by the letter s (80s) (250s) which shows those stocks to be sold in odd lots only, rev 1930~ Stock and pares— - Dividend Rate. _Add 00. High. Abitibl Pow & Paper 8 Over Stock Business of | o0 2 Ao St 620 ) % Harriss & Vose. 9 14% Adams Exp (1.60). 8214 Adams Exp pf (5) 231 2% Advance Rumley. BY EDWARD C. STONE. Harriss & Vose, members of the New York Stock and Cotton Exchanges and of other commodity exchanges, an- nounce that Mrs. William W. Bierce and William Leslie Harriss will retire from the firm on February 1, 1931, a news dispatch says_tod: William Leslie Harriss, with Daniel F. McCarthy, will form a partnership in the name of Harriss & Co. and will succeed to and continue the stock busi- ness of Harriss & Vose. Harriss & Co. will acquire the branch offices of Har- riss & Vose at Boston, Providence, Com- modore_Hotel, New York City: Eliza- beth, Philadelphia, Washington and Akron. Harriss & Vose thereafter will devote their activities solely to commodities, in which they have always specialized. On the same date Charles B. Vose and Richard T. Harriss, jr., sons of the Ppresent partners, will' be admitted to the firm as general partners. The Washington office has been lo- cated in the Southern Building for sev- eral years, under the joint management of E. J. Emerich and McElroy Moss. The local management will remain un- changed under the new arrangement. Pennsy Cuts Earnings Decrease. Detailed figures show that the Penn- sylvania Railroad earnings for Novem- ber continued to show a substantial de- crease from corresponding month of 1929, as well as the usual seasonal drop from October, but two interesting fac- tors stand out as_encouraging signs— the percentage of decrease in both gross and net was smaller than for several months _and _operating expenses were kept well in hand, with operating ratio actually lower than in November, 1929. Gross revenues in November amounted to $42,940,025, which compared with $54,463420 in November, 1929; de- crease, $11,523,395, or 21.2 per cent. In October gross revenues amounted to $50,049,539, against $66,125.434 in Octo- ber, 1929; decrease $15,175,895, or 22.9 per cent. The percentage of decrease shown in November was the lowest since July, when gross was 19.9 per cent below the corresponding month of 1929. Net operating income in November amounted to $5.277.727, which com- pared with $7,294.408 'in November, 1929; decrease, $2,016,681, or 27.6 per cent. Gross revenues for the 11 months ended with November amounted to $535,803,340, against $642.038.479 in corresponding period of 1929; decrease, $107,135,139, or 16.6 per cent, while net operating income for the period was $87,250,387, against $120,602.881; de- crease, $42,352,404, or 32.7 per cent. Trade Situation Reviewed. ‘Today's Guaranty Trust Co. Review [ 129 finds little to indicate an early recovery in trade. However, in looking ahead, the survey says: 201 21 156! 150° 82 116 127 “The continuing ease of money and (;’i the strength of the credit situation, to- gether with the certainty that a consid- erable shortage of goods is accruing, are facts that support the conclusion reach- = 811 ed by many that a quickening of gen-| 53! eral business activity may, perhaps, be | B1% 115% expected by late Spring. It seems rea- sonable to assume that, with the har-| 37 wvesting of the 1931 crops and the fur- therance of trade adjustments, the last | 110 half of next year will show more prog- Tess and that 1932 should witness sub~ | 8% stantial recovery from the depression.| 4% Economic precedent and business his- tory seem to support such views. “In spite of the disappointment oc- casioned by recent reports, business opinion clings to the view that 1931 will witness marked improvement. Although definite predictions are unusually scarce, there seems to be a fairly gen- eral tendency to place the probable date of recovery somewhere in the first half of the year. The only point on which there is a virtual unanimity of opinion is that the revival will be a slow and ir- regular process, particularly in its early stages. This is in line with past ex- rience. It is only after such irregu- rity has persisted for some time that | confidence becomes general and the up- | 116 126% 120% Allied Ch & D of (7). 13 121 68 141% 95 124% 29% 82% 61 10 Advance Rumley pf. Ahumada Lead...... Afr Rednction (t4%) Airway F1 Ap (60c). Alax Rubber... .... Alaska Juneau(40c). 6% 5% Alleghenv Corp. ... 39 6% 3% Alleg Cp $30 ww 51, 3R4 38 Alleg Cp $40 ww 515, 8% - 38% Alleg Steel (12.80).. 41% 415 Allied Ch & Dye(n6). 176% 17714 121% a2n 15% 31% Allis Chalmers (3).. a3 32 11' Alpha Port Cmt (2) 4% % Amal Leather. . 1615 Amerada Corp ( 1% Am Agrienl Chem 1% Am Agri Chem ctfs 1R Am AgrienlChpf... 1714 Am Agri Ch pf ctfs. 8 Am Beet Sugar pf 45'4 Am Bank Note (+3).. 3015 Am Br Shoe (2.40).. N 6% Am Brown Bov Elec. 15 104% Am Can (15). 19, h 140% 1 251 i 701 Am Car & Fdy of (T). 27 Am Chain (3).....00 75% Am Chain pf (7).... 35 Am Chicle (t3). .o . Am Colortype (2.40). Am Com Alcohol. ... Am Encaustio (1)... 2 Am European Secur. Am & For Power. Am & For Pw pf (6). Am Hawallan (a10). Am Hide & Leather Am Hide & Leath vf. Am Home Pr (4.20). Am Tce (t4)... Am Internat] (2), 5 Am La Fr & Foamite ‘Am Locomotive (2). Am Locomot pf (7). Am Ma & Fy (1.65). AmMach & Metals. Am Metals&Min (1). Am Metal pf (6)..... Am Nat Gas of (T).. Am Power & Lt (r1). Am Pow & Lt of (6). Am P &L pf A st (5) 5 AmP&LDIA (3%). 4 Am Rad&Std San(1) Am Republiei Am Roll Mill 2( Am Safety Razor (5) Am Seating. .. Am Ship & Com... .. ‘Am Shipbuilding (5) 100 Am Sm & Ref (4)... 141 Am Snuff (13%).. 2 Am Solv & Chem .. Am Solv & Chem pf. 4 Am Steel Fdy (3). Am Steel Fdy of (7). Am Stores (+2%)... Am Sugar Ref (5) Am Sugar Ref pf(7). Am Sumatra Tob. . Am Tel & Cable (5)... 2 FoooAN-N 5 3 110% 148 PN e FannanAoe 25 4 274'% 170%Am Tel & Tel (9) 9815 Am Tobaceo (5 130% 99% Am Tobacco B (5 120 Am Tobacco pf (6).. Am Type Fdry (8).. 47% Am Water WKs (3).. % 5% Am Woolen.... 15% Am Woolen pf. 114 Am Writ Paper ct R 3% Am Zinc Lead & Sm, 21 27% Am Zinc & Lead pf.. 8 2 25 Anaconda Cop (2%). 268 4« 19 Anaconda W & C (1) 1 25% Anchor Cap (2.40)... 12 93% Anchor Cappf (614). 2 4 10% Andes Copper (1). 5 1314 Archer-Dan-M (2) 100% Archer-Dan pf (7).. . Armour of Del pf (7) 2% Armovr of T1I (A) 1% Armour of Ill (B). .. 25% Armour of Tl of (1), 315 Arnold Constable Asso App! Ind (4)... Asso Drv G (234). Asso D G 1stpf (6).. AssoDG2dpf (7).. 1 82 2 Atch To & S Fe (10). 12505178 175 AtchTo & SFf (5). 3 105 1034 10415 At] Coast Line (110) 3508 97% 97 16% At Refining (t2).... 31 17% 8 Atlas Stores (n1). 4 215 Atlas Tack... . 1 60% Auburn Auto (J4)... 48 1% Autosales... ol 2% Autosalespf........ 2 2% Aviation Corp of Del 28 19% Baldwin Loco (1%). 23 84 Baldwin Loco pf (7). 80s swing proceeds at a fairly steady pace.” | 122% 65% Balto & Ohlo (7).... 42 110'; 104'; Bamberger pf (6%). 30s Triclion Touchos New Low. 41, Bl% Bang & Aroos'(3%). 5 Capital Traction stock touched an- other new low mark for the present| market and for all time on the Wash- ington Stock Exchange today. In a single sale of 200 shares the stock sold ex-dividend at 42'.. It was the largest turnover in this issue in several weeks. Ten shares of American Security & Trust Co. stock sold at 345, and a small Jot of Lanston Monotype came out at| 110 104. The only other stock sale was in| j34 Potomac Electric Power 6 per cent pre- | g ferred, which registered 11115, 5 In the bond division Washington Gas| g3, 6s, Series A, figured in two transactions at 102 and Washington Gas 6s, Series B, sold at 105, ‘The list of local stocks now quoted ex-djvidend is the longest it has been in many months. The last day of De- cember and January 1 or 2 will ® great many checks reaching sto holders. And nearly all of them wil be for the same amount as they were & year ago, some even being extras. Financial District Notes. President George O. Walson of the Washington Stock Exchange and the Libetty National Bank has returned from a holiday trip to New York The American Security & T 4s making 1930 a most memorable by rapid progress on the new 10-story addition. The big annex will be ready for occupancy before 1931 is so very far advanced In reversing taintd by C. Plerte & Co. verdict for $10,000 cb- ne Craig against E. A d dismissing complaint in suit for $38335 damages, the Ap- pellate Court in New York ruled a cus- tom¢r of a brokerage house cannot hold broKers responsible for loss when he has toldithem to use their judgment in dis- posibg of his property. N@vember output of motor vehicles totaled 129437 units, as compared with 150,044 in October and 217.573 in No- vember, 1929, Commerce Department re- | s, Pdssenger car output in November was 97.528, against 112,209 in October and 167846 in November, 1929 The Washington Bond Club will re- | fts_activities early in the | yeal The officers have several able finagelers in mind for guest speakers. ! ———— DECLINE IN NOVEMBER By the Associated Press | GRAND RAPIDS, Mich., December | 29.—~New orders received by the furni- | ture indnstry in November were 15 per | cent .c»> than in October and only 57! r cent of the amount in November t year, a monthly survey issued to- day by Seidman & Seidman, certified public’ accountants, shows. Por the 11 months ended November 30, both new orders and shipments ap- rro:umaled 59 per cent of those in the ke period last ye Unfilled orders at the end of November this year were equal to approximately 15 days busi- ness, compared with 42 days business on hand on the same date last year. CHICAGO DAIRY MARKET. CHICAGO, Dece_m'ber 29 M’).—-Bulkrfl. (90-91 score), 227’ firsts (88-89 score), 25a26; sec- onds (88-87 score), 24a24';. 601 cases; firm: extra firsts, 1161 106'; Bang & Aroos pf (7). 8 Rarker Bros (2).....1: 581 Barker Bros pf (6%) 30s £ Barnsdall A (2)..... 26 10% 46% Beech-Nut Pkg (3).. 1 481 215 Relding-Hemingway 6 27 21 761 BelNRyptptt551. 1 14'¢ Bendix Aviation (1).1472s 30% Best&Co (2).. ... 10 i Bethlekem Steel (6). 245 112% Bethlehem Stpf (). 1 15% Bohn Alum&Br(1%) 1 Booth Fisherles. ¢ 5% Booth Fish 1st p! 6014 Borden Co (k3). 15 Borg, Warner (1). 44 Boston & Maine (4). % Botany Con M (A) 124 Briggs Mfe(+1.621% 15% Briggs & Strat (2)... 1% Brockway Mot Trk.. 13 Brockway Mot pf... 110 £3 BKlyn-Man Tr pf (6) 64 Bklyn & Queens..... 1 984 Bklyn Union Gas (5) 1 10 Bruns-Balk-Col. 5% Bruns Ter & Ry 8. 11% Bucyrus (1).... .. 21 Bucvruscv pf (2%). Budd (EG) Mfg 6% Budd Wheel (1) $; Bulova Watch (3) 25% Burns Bros (A) (8 Burns Bros (B). 18% Burr Add Mach 3 21% Bush Terminal (2%4) 2128 231 108 Bush T Bldg of (7)., 10s 108% 10! 1% Butte Copper & Zinc, 3 1% “» Butte Superior. 3 i 10 Butterick Co . 5 1475 331 Byers (A M)... 3T% 36 4214 Calif Packing (4) 28% Calumet & Arizona. 7% Calumet & Hecla. ... 10 Campbell Wyant (2) 301, Canada Dry G A (3).. 54 Can Pacnew (234).. Cannon Mills (160). « Capital Admin (A).. 1 2 Capital Adm A pf (3) 3 Case (J 1) (6).. Caterplllar Trac( 11 Cavanaugh-Dobbs. 9% Celanese Corp. .. 3 CelotexCo. ..... 3 Celotex voting cifs T% Celotex Co pf.. 18 Cent Agulire As1%. 214 Century Rib Mills. .. 51 Cent Rib Mil 204 2 6% Certain-teed Prod pf 14% Checker Cab (1.80).. 32% Ches & Ohlo (2%)... 3214 Chesapeake Corp (3) % Chic & Alton ...... 4% Cnle Great Western. 12 Chicago Great Wn pf 4% Chic Mil St P & Pac, Chic Mil St P& P pf. 30% Chi & Northwn (4).. 22% Chi Pneu T pf (3%). 45% ChicR 1 & Pac(7)... sl (‘h,f R1&Ppf(6).. 92 ChiR & Pacof (7). 20% Chi YellowCab (3) .. 114 Chickasha Cotton Ofl 23 Childs Co (2 40).. 141 Chrysler Corp (1) 344 City lce & F (k3.60). 4 79 City lce & F pt (614) 350n 21, City Stores (50e)... 10 16 Clark Equipment (2) 1 21 ett Peabody (3) 133% Coea-Cola (6). .. 481 Coca-Cola A (3). 44 Colgate-Pal-P (234). 12 ° Collins & Afkman. . 8% Colonial Beacon. 18% Col Fuel & Iron (1) 30% Col Gas & El (3).,.. 5% 32 99 ColGas&EIpfA(S) 1 101% Individual sales compiled to noon—complete in 5:30 Edition. a 1087% ~Prev.1920~ High. Low. 4 Coty Inc. ... Stock and Dividend Rate. Colum Graph (a% ) Columbian Carb (1! 4 Comm Credit pt B(2)600s Comm Cred pf (1%).160s Com In Tr (£1.60)... 16 Comm Inv Tr pf (7).. 208 Comm Solvents (31) 41 Comwlth & So (60¢). 154 Comwlth & Sopf (6) 6 Congolenm-Nairn... 25 Congress Cigars (4). +Consol Cigars (5) .. Consol Cig pr pf 6% . Consol Cigar pf (7). Consol Film (2)...+e Consol Film pf (2).. Consol Gas N Y (4).. Cons Gas N Y of (5). ns RR Cub pf (6) .1 “onsol Textile . Container A (1. Container B Contl Baking A. Contl Baking B. Contl Baking pf (8). Contl Can (3%)..... Contl Dia Fibre (1).. Contl Insur (2.40)... Contl Motors Contl Oil of Del. Contl Shares (1).... 9% Corn Pr Ref (14%).. 13 724 32558 1% 7 26% am of Wht( 5 Crosley Radlo. . 7 z 3 4 Crucible Steel (k5).. 4 s 90'4 43% 30 2414 Crown Cork (£2.40). 2% Crucible Steel pf (7). 20 Cuba Cane Prod [ Cuba Co Cuba R R p: . Cuban-Amer Sugar Cuban-Amer Sug pf. Cuban Dom Sugar. .. Cudahy Packing (4). Curtis Publish (17).. Curtis Publish pf (7) Curtiss Wright Corp. Curtiss Wr Corp A. . Cutler-Ham (3% ) Davison Chemical... Debenhams (70¢). . . Deere & Co pf (1.40). Delaware & Hud (9). Del Lack & Wn (7). Detroit Edison (8) 2 Devoe & Ray (1.20 Dome Mines (1 Dom Stores ($1. Drue Corporat Dunhill Int i Du Pont de N (14.70) 81 DuPdeNdebpf (6). 5 Eastman Kodak (18)3070s147 Eaton Axle (1.60). 3 14% tington-Schild . Eitington-Schild pt.. Elec Auto Lite (6) Electric Boat. 2 3 4 4 dicott-John (5). .. dicott-John pt (7) 1e R R 36 2 4 6 2 1 4 6 52 1 3 1 Erie RR 1st pf (4)... Erie RR 2d pf (4). Bureka Vac Cleaner, Evans Auto Loading. 6 Fairbanks Co pf.... 1108 Fairbnks Morse 1.60. 34 Fairbanks M pf (7)., 108 Fash.on Park Asso.. 1 Fashion ParkAs pi Fed Motor Tr (80c] Federal Screw (1) Fed Wat Sve A 2.4 Federated Dept St Fid Ph Fire In (2.60) Filene's pf (6%)....100s Firestone T&R (1). 1 Firest T & R pf (6).. First Nat Strs (2%). Fisk Rubber. . Fisk Rubber 1st pt. . 13908 Fisk Rub 1st pf cv.. 3708 Follansbe Bros (1).. 2 Foster Wheeler (2).. 13 Foundation Co. . Fourth Natl Invest.. 4 Fox Film (A) (4). Freeport Tex (15 Fuller 24 pf (17.40). Gabriel Co (&).. Gamewell Co (5) Gardner Motor Gen Am Investors. .. Gen Am Inv pf (6).. Gen Am T’k Car (34) Gen Asphalt (3).. Gen Bronze: Gen Cable. Gen Cable A. Gen Cable pf () Gen CIRar (4)....... Gen Electric (1.60).. 180 Gen Elec spec (60c) 3 Gen Food Corp (3) Gen Gas&El A (e30c) Gen G & Elcv pf (6). Gen G &EI1 pf A (T).. 208 Gen G & E1 pf A (8). 10 : Gen Ital Ed (a2.62).s Gen Mills (3) Gen Mills pf (8)..... 1 Gen Motors (13.30)., 189 Gen Motors pf (6)ess 7 Gen Outdoor Adv.... 5 Gen Out Adv (A) (4) Gen Print Ink pf (6). 108 Gen Pub Sve b8 %stk. 10 Gen Ry Signal (5)... 8 Gen Ry Signal pf (6) 108 Gen Realty & Utll... 53 GenR&Utpf (e6).. 3 bli Gen Refract (t4%).. 5 d40% Gen Theatre Equip..10632s 6% Gillette Saf Raz (4). 83 .21 % Gillette Saf R pf (5). Gimbel Bros.. .... Gimbel Bros pf (7).. den Company. bel (Adolf). Gold Dust (2%). Goodrich (BF). Goodrich BF pf (7)., Goodyear Tire (5)... Gotham Silk Hoslery Gould Coupler. Graham-Palge Granby Consol (2).. Grand Silv Strs(h1). Grand Unfon. . . Grand Union of (3).. Granite City St (3).. Grant (W T) (1).... Gr North pf (5). Great Nor Ore(t . Great Western Sugar 14 Gr West Sug pf (7). 1608 Grigsby Grunow.... 12 Guantanamo Sugar.. 5 Gulf Mob & N pf (6). Gulf States Steel. ... Hacken pf A (1%) Hahn Dept Stores. .. Hahn Dept S pf (6%) Hall (WF) Pr Co (2) Hanna pf (new) (1) 1008 90 Har Wk Ref (12%).. 2 39% Hartman (A) (2). 1 Hartman Corp (B) 4 3 Hawailan Pineap (2)100s - 39% Haves Body 1168 3% 4 Hercules Mot (1. Hershey Choc (5). Hoe (R) & Co. Holland Furn (12%) Houdaille Hershey. . Housenold Fin pf (4) Houston Oll (b10%). Fousten Ofl (new).. Howe Sound (t4%).. Hud&Man Ry (3.50). Hudson Motors (3).. Hupp Motors. - {llinots Central (7)., Indian Motor Cyel Ind MotorCycle pf Indfan Refinin, Indian Refining Indus Rayon (4) Ingersoll Rand ( Inland Steel (4). Inspiration Copp Insuranshar,Del 40c. Ins ctfs (Md) (60¢).. Interboro Rap Tran. 4 Intercont Rubber. ISTOCKS IRREGULAR INLOWER TREND Tax Selling Continues to Play Important Part in Market. BY GEORGE T. HUGHES. Special Ditpatch to The Star. NEW YORK, December 29.—~Tax sell- ing. only partially offset by intermittent short covering, resulted in an irregu- larly lower range of prices in today’s stock market. One or two groups re- sponded to news developments on the outside, but in the main stocks were affected by technical conditions and nothing else. The usual long list of new lows was made early in the day, including such an assorted variety of issues at Beth- lehem Steel, American Smelting & Re- fining, Radio, International Telephone & Telegraph and Montgomery Ward. As far as Bethlehem Steel was con- cerned, the offerings, which, by the way, did not depress the price seriously, might have been connected with the court decision holding up the merger with Youngstown Sheet & Tube, but it is probable that the stock would have sold off anyway. In the others, obvi- ously large losses for income tax pur- poses could have been established. Leaders Supported. ‘The so-called pivotal industrials were better supported. U. S. Steel opened a point down and then regained the loss. American Can during the morning ranged higher on the day. General Motors was steady around or just above the preceding close. Standard ‘Oil of New Jersey started in with a loss of over a point and was the weakest of the group. Most of the changes in the railroad list were on the side of decline and new lows were made by Atlantic Coast Line, Louisville & Nashville and Chicago & Northwestern. For a time the shorts in Southern Railway covered, but when demand from that source was satisfied the stock reacted. Against these losses were moderate advances in Woolworth, in United Fruit and for a time in Sears Roebuck. In the last two there is a large short in- terest and probably the same applies to Woolworth. Retirement of commit- ments for the decline helped support Case and Auburn Auto. Gxfim rallied Io; the same reason. n two instances news developme! stimulated buying. The price 0,} c«";‘]’sf per for domestic delivery was advanced one-quarter cent and Anaconda ran up a point. Local tractions opened 4 to 5 points higher on publication of the terms of the proposed unification plan, which. it must not be forgotten, will re- quire legislation to put iulc effect. Part of the gain was lost in thie later ired- ng. Call money renewed at 2!, per cent and was firm at that rate ,with heavy calling of loans for vear end require- ments, Early Market Lower, Nervous and irregular, the stock mar- ket today had to accept more large blocks offered to record income tax losses. The result was a lower range of prices during the first hour, punctuat- ed by intermittent rallies. Volume was higher than during the same perio¢ for & week past. New lows were made by such typical issues as Bethlechem Steel, Montgomery Ward, International Telephone, Amer- ican Smelting and Western Union. Selling of Bethlehem Steel may have been connected with the court decision against the merger with Youngstown Sheet & Tube, but more probably it was simply in_line with the rest of the market. United States Steel opened over a point lower and them recovered to show a gain on the day. Standard Oil of New Jersey started in down over a point and then it also rallied. Amer- ican Can stood out strong in an other- wise weak market and General Motors was steady. The local tractions were all buoyant, reflecting publication of the terms of the proposed unification. Brooklyn Man- acter, backed by records, perior stability. Riding on crest Dollars Want to get in touch with three capable salesmen of good char- who might consider change to new selling field of su- this present depression. appeal particularly to bond and security salesmen. This Company has had-a business career of eight eight years and paid out over Six Hundred Ninety- in dividends. BOX 424—E, Star Office. THE EVENING STAR, WASHINGTON, D. .C,. MONDAY, DECEMBER 29, 1930. YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Advertising Held Key to Early Gain In Nation’s Trade Hotel Head Urges Increase in Appropriations as Aid to Recovery. If every American advertiser today would consider the current business de- pression merely as a new form of com- petitionfor his markets and would meet it by a 25 per cent increase in his ad- vertising appropriations, American busi- ness would make a startling recovery, according -to Ralph Hitz, head,of the New Yorker Hotel, who spoke before the Missouri-Kansas-Oklahoma Association here, and whose address has been re- echoed in_banking circles, says the American Banker in an article from its Kansas City correspondent. “If every large advertiser would in- crease his advertising appropriation 25 per cent and start spending it 4t once— whole-heartedly and joyously—recovery would be upon us in no time.” Mr. Hitz called business depression “the most successfully advertised insti- tution in the United States today.” “In something like 12 months this ‘unknown’ has been so successfully ‘sold’ to you and to me and to the rest of the American public that it is on the tongues of all of us. It is as_well known today as the Ford car, Ivory soap, Campbell's soup or Wrigley’s chewing gum.” hattan, Manhattan Modified and Inter- borough Rapid Transit gained 4 to 5 points. Call money renewed at 2% per cenl.‘_ " HUGE SUMS INVOLVED IN STOCK FRAUD CASES By the Associated Press. NEW YORK, December 29.—The sum of $57,465,000, of which only $3,255- 000 was saved, was the loss to cus- tomers and_stockholders of companies which the Bureau of Securities of the State attorney general's office investi- gated and prosecuted, the annual report to Hamilton Ward, attorney general, revealed today. ‘This total, the report said, probably had been increased to $111,575,000 by other cases brought too late to official attention During the year 174 separate actions were brought against 620 defendants. |~ “If you add $57,465,000 lost and an- other equal amount in tardily reported cases, the frauds which are never brought to the attention of the at- torney general’s office, and then multi- ply this sum by four to allow for the United States, you reach an appalling First Mortgage Loans Lowest Rates of anterest and Commission ‘Thomas J. Fisher & Company. Inc. o|——— o/ ———=]5] SEE_US ABOUT LOANS On improved real estate situated in Washing- ton and its suburbs. wE have first mortgage monéy to loan for re- financing or construction purposes. Youll find us ready to give immediate assistance. We purchase 2nd trust notes secured by improved real estate. MORTGAGE & GUARANT CorRPORATION Capital Resources, $3,500,000 aponess 1610 K ST.N.W. [n]——=]a|l—=[5] good production Good income. of wave even in Should Eight Millions of Address To Holders of NORTH AMERICAN TRUST SHARES A4 DISBURSEMENT for the six months’ period ending December 31, 1930, amounting to $.658 per share, will be payable to holders of North Ameri- can Trust Shares on December 31. sure prompt payment of the full amount of coupon No. 4, which is considerably in excess of the face value of the coupon, we suggest that you present them at our office, where information can also be obtained re- garding your rights to subscribe to addi- tional shares at one-half ‘point below the current offering price. W.W.LANAHAN & €CO.* BANKERS s To in- FINANCIAL, total of well over a half billion dollars a year, said Watson Washburn, assist- ttorney general. Money on H 5 Lhis ..’ First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. Money to Loan Secured first deed of trust on real estate, Preyalli interest commission. . L. & Trust . 9th & F N.W. REAL ESTATE LOANS . Made at Low Interest Rates lestred. 1520 K St. N.W. National 0475 Equitable Co-Operative Bldg. Ass'n O 51st YEAR COMPLETED JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary Assets 4+4.$5,901,122.48 Surplus & Profits. . .$1,818,655.92 Subscription for the 100th Issue of Stock Being Received SYSTEMATIC SAVING That is the sure way to get ahead financially and the way to prepare for rganized 1879 any emergency. We will gladly explain our sys- tematic saving plan. CONSTRUCTION LOANS As Mortgage Loan Corresponaent of the Metropolitan Life Insurance Company we always have ample funds available to loan on Large or Small projects. Our organization is fully equipped to assure immediate action on your application. Consult WEAVE_B BRO! REALTORS Washington Building District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company Loans made in the District of Columbia and Nearby Maryland and Virginia FIRST MORTGAGES INVEST YOUR DIVIDEND MONEY The money you receive as dividends, or maturing invest- ments, will be safely and profit- ably reinvested in our 6% FIRST MORTGAGES A Tfavorite investment because they offer such security and re- turn such liberal interest. There is no worry connected with such an investment. Over a Third of a Century Without a May be purchased in amounts from $250 up. . F. SAUL G} National 2100 925 15th St. N.W. IS NO SUBSTITUTE FOR SAFETY To those who are confronted with home financing problems we offer the competent counsel of over forty years experience in this ‘service . . . First Mort- gage Funde for loans on residences and business buildings in the District of Columbia and nearby Maryland suburbs-— three, five and ten year terms. 3% Loan Correspondent for * The Pmden ial ™ Members New York & Baltimore Stock Exchange Associate Member New York Curb Exchange ‘WASHINGTON OFFICE: HILL BUILDING EDWIN D. FLATHER, Resident Manager Interlake Iron (1) Int Agricultural.... Intl Bus Mach (n§) ., Intl Carriers (50¢).. intl Cement (4)..c0n Intl Combustion Int Comb Eng pf.... int) Harvester (2%). Int Harvester pf (7). Intl Hydro El A (e3. Int] Mateh pf (4).... Intl Mer Marine (2). (Wfll’lfl&) H. L. Rust Company 1001 Fifteenth Street. National 8100 P S E D *Members of Distributors Group, Inc.