Evening Star Newspaper, December 30, 1930, Page 13

Héad_ of D. C. Bankers’ As- sociation Believes 1931 Will Show improvement. BY EDWARD C. STONE. Lanidr P.-McLachlen, president of the District Baukers' Association and of the MecLachlen Banking. Corporation, takes a cheerful view of the outlook for 1931 in Washington. He believes the couw try, as a whol has suffered more in the past few weeks from ‘“‘over- pn diction than from overproduc- tion,” as the exact date for the com- ing recovery has been set |UU many and the Howeve: optimistic Mr. Mec- said to- The National Capital should sce g, p. McLachlen. t mproving : conditions during 1931. Bank- ews are agreed that the hardest part of the depression is over, that business will not stand still, and, therefore, must ne has been as much over- tne wild speculation a year e 1s a medium ground be- tween the heigths and depths of the Dbusiness_scale, which is called normal times. That 1s the goal to work for in 19381 “The Taw of supply vital today as it eve on demand is sure t on @ heaithy buying movement in a great many different lines, The en- larged demand will put a new strain and demand Is as was. As time goes increase and bring on supply, giving needed acceleration to the industrial wheels. “Some gloomy people speak as if busi- s in Washington had been at a stand- still during 1930. That there has been a serious depression everybody admits, but retail trade here has not been very far behind last year. Not nearly so far as might be supposed—only 1.5 per cent in the first 10 months of the year. It will require only modest additional buy- ing to establish some new mercantile records in this city in 1931. “Washington banks are in a sound and htghl) favorable position. They have taken care of the needs of local business this year and will do the same in the next iz months. The. national and international business disturbance has brought about a remarkable swing toward" thrift—particularly notable in Washington where the Government pay= roll is almost constant. Money has flown into the savings departments of the banks in large amounts and no doubt_will continue to do so during the coming year. It is a most healthy sign, a powerful factor in increasing bank de- posits and places the depositor in an enviable financial position. “Conservatism should be the rule in the coming year. We shall see no runa- way markets until price indexes and Note—All stocks are . THE EVENING NEW YORK STOCK EXCHANGE Received by Private Wire sold in one hundred-share STAR, WASHINGTON, lots e)mflnl those designated by the letter 8 (80s) (2505) W] shows those stocks to be sold in odd lots only. Individual sales compiled to wfl—elmplm in 5:30 Edition. Stock and w. Dividend Rate. Add 00, High. 8 Abitibi Pow & Paper 2 8 36 ADbItIBIP&Pof (6. 3 39% 21 Abraham Strauss.. 25 14% Adams Exp (1.60).".. 80% Adams Exp pf (5)... 208 25 Addressoer'ph (1%). 2 214 Advance Rumley. 7 10 Advance Rumley pf. % Ahumada Lead...... 87% Alr Reduction (t43%) 6% Airway El Ap (60c). % Ajax Rubber. .. ....720 41 Alaska Juneau(40c). 6 - Albany Wrap Paper. 5% Allegheny Corp. 38 Alleg Cp $30 ww 534 .6508 88% Alleg Cp $40 ww 535, 3 40 Alleg Steel (12.80).. 2 170% Allied Ch & Dye(n6). 16 314 Allls Chalmers (3).. 10 11'4 Alpha Port Cmt (2) % Amal Leather. 12 Amal Leather p! 1614 Amerada Corp (2 1% Am Agricn] Chem. .. 1% Am Agri Chem ctfs. 17 Am Agricul Chpf... 1715 Am Agri Ch pfetfs.. 3 45'¢ Am Bank Note (13). T!N 214 Am Beet Sugar. 8 Am Beet Sugar pf 4 30% Am Br Shoe (2.40).. 213 61 Am Browr Bov Elec. 156'¢ 104% Am Can (15)... 24% Am Car & Fdy (6)... 1 70 Am Car & Fay pf (7) '.’50 27 Am Chatn (3). 75% Am Chain pf (7). 35 Am Chicle (13). 157% Am Colortype (2.40) 390- 9 Am Com Alcohol & Am Encaustic,(1). 17% Am European Secu 99%, 343 68 74 Am & For Pw nf §8 Am & For Pw pf (7). 63% Am & For Pow 24 pf. 5% Am Hawatian (a10). 1% Am Hide & Leather ., 9 Am Hide & Leath pf. 461 Am Home Pr (4.20).. 24% Amce (14)....u. o 16 Am Internatl (2).... 11 9% Am LaFr & Foam pf.1080s | 19 Am Locomotive (2).. 684 Am Locomot pf (7)., 29% Am Ma & Fy (11.65). 3 AmMach & Metals. .. 13% Am Metals&Min (1). 20 Am Nat Gaspf (7).. 36% Am Power & Lt (r1). 90 Am Pow & Lt pf (6§ 75 AmP&LDLA (3%). 74% Am P& L pf A st (5) 15 Am Rad&Std San(1). 5% Am Republics. ..... 28 Am Roll Mill (n2)...3416s 5214 Am Safety Razor (5) 2 5 Am Seating. . 1 % Am Ship & Com % 35" Am Shipbullding (6) g00n 38 374 AmSm& Ret (4)... 64458 41% 35% Am Snuff (13%). 24 Am Solv& Chem .. 5% Am Solv & Chem pt. 52% 23% Am Steel Fdy (3)... 16508 24% 116 110 Am Steel Fdy pf (7). 20s 110% 5515 3614 Am Stores (123%). 69% 39% Am Sugar Ref (5) 26% 65 Am Sumatra Tob 27% 15 Am Tel & Cable ( 1 274% 170%Am Tel & Tel (9)....114928177% 127 98% Am Tobacco (5)..... 9 104% 130% 99% AmTobaccoB (6)... 36 141% 95 Am Type Fdry (8) 114% 103% Am Type Fdy pf (7). 60a 71 32% 31 a7 24% 43 94% 4% 75 15% 6l 30 56% 6 79 4 105'1 low. ke 31% 84 15% 24% 94 T4% 74% 15 6% 28% 55 6 Sk 378 3814 24% 110'% 174% 102 105 Prev. Close. Close 8 Direct fo The Star Office. Stocx and Dividend Rate, Coca-Cola (6) Coca-Cola A (3). Colgate-Pal-P (2 Collins & Afkman. . Collins & Afk pf (7)., i Colonial Beacon. .. Col Fuel & Iron (1).. Colo Fuel & It pf (8). 108 Colo & Sou 15t Df (4) 1008 Col Gas& El (2).... 68 34 Co!Gas & EI Df A (6) 6 101% Colum Graph (a% ). 19960s 8% Columblan Carb (16) 16 76 s Comm Credit (2) ... 19 Comm Credit A (3) 4 Comm Credit pf ‘522008 Com In Tr (g160)... 3 Com InTevopf (e6)e 1 Com Inv Tr war sta.. 8 Comm Solvents (1) 48 Comwlth & So (60¢).195508 8 Comwlith&Sopf (6) 3 91% Conde Nast Pub (2).. 4 32 Congoleum-Natrn... 14 Congress Cigars (4). 3 Consol Cigars (5) ... 4 Consol Cigar pf (7).. 10s Comm Cred 1st (6%) 508 Consol Cig pr pf 6% . 1508 Con Cig pr pf xw 6% . lflfln 4 Consol Film (2)..... Consol Film pf (2) Conscl GagN T (0). 318 ¢ ConsGasN Y of (5). 4 Cons RR Cub pf (6)., 43 4 Consol Textle. . Container A (1.20) Container B Contl Baking Contl Baking B Contl Baking p Contl Can (234)..... Contl Dia Fibre (1). Contl Insur (2.40). Contl Motors. Cont] Oll of Del Sates— ~Prev.1930~ Add 00. High, High. Low. 191% 133% 52% 48% Corn Pr Ref (14%).. Corn Prod pf (7). Coty Ine. ... Cream of Wht( Crosley Radio. . Crown Cork (12.40).. Crucible Steel (k5) Cuba Cane Prod. 151% 140 33 T 85% Cuban Dom Sugar. Cudahy Packing (4 Curtis Publish (47).. Curtis Publish pf (7) Cushman'’s pf (7) Cutler-Ham (3%). Davison Chemical. 4 DeBeers Min (al.44). 20s Deere & Co pf (1.40). 1 Delaware & Hud (9). 4 Del Lack & Wn (7). Denver & RG W pf.. Devoe & Ray (1.20).. Dunhill lmtrn‘\ll Duplan Silk (1) Duplan Silk pf (8)... 20s Du Pont de N (14.70) 129 Eastern Roll Mills.. 1 Eastman Kodak (18) 24 ton Axle (1.60) 13 ltington-Schild. Eitington-Schild Elec Auto Lite (6). Electric Boat. El Pow & Lt (1 El Pow & Lt pf (6).. El Pow & Lt pf (1) 4 El Storage Bat (). 145% 80% 25% 6% 265% 142% 11% . Close. Clo! 274 146% l! 142% 138% 50% 131 D. C.. TUESDAY, UPTURN IN STOCKS IS LAID TO SHORTS Market Hardens After Over- night Selling Orders Are Executed. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 30.—Contrary to predictions which had emphasized the probability of heavy tax selling on this, the last day of the year on which such transactions could be recorded in the regular way, and the inference that the markét would be weak, prices today staged a vigorous and sustained rally. The opening had been irregular and uncertain, with about as many declines as_advances, but after the overnight orders had been executed the list hard- ened and before ncon was headed upward. The turnabout was un- doubtedly due in part, at least, to short covering. Leaders in Demand. No one knows exactly how much of a factor tax selling has been in the past week or two when the market made its extreme low, and no one will know until the pericd when these sales can be made has passed. But there was-evi- dently a suspicion on the part of the bear faction that there were chances for a material advance in the new year and that it might be a good time to | take in short contracts today and let the market prove itself. It was the more important stocks that benefited from this changed at- titude ort the part of professional spec- ulators for the decline. United States Steel, American Can, Westinghouse Electric, Amercian Telephone & Tele- graph and Standard Oil of New Jersey were all in demand, and all of them scored gains of greater or less extent. American Can had been heavily sold and harbored a large short interest, and consequently moved up easily when the buying gained headway yesterday. The strength in these leaders stimu- lated stocks of lesser rank, although in this grade there was still belated sell- ing on tax account. Copper shares were strong, notably Anaconda, up over a point at 30, and 5 points above the yeaMs low. Specialties, such as Air Reduction, Allied Chemical, Columbian Carbon and Union Carbide were all actively bought at rising prices. Advances in. the rails might have been ascribed to reports of progress in the Eastern consolidation scheme, but the chances are that their gains were sym- pathetic with those in the rest of the| list. At any rate New York Central, Baltimore & Ohio, Chesapeake & Ohio and Pennsylvania were all up, with the larger advances in the two first named. Illinois Central responded to the bet- ter showing in net.income revealed in its November earnings statement. New Haven rallied and St. Louis-San Fran- cisco moved erratically, but for the most part higher on the day. There is a short interest in the rail- road stocks as well as the industrials, a fact demonstrated by the demand for the carrier issues in the loan market. Call mioney renewed at 31 per cent, the highest siice May 6, but every one DECEMBER 30, 1930. FINANCIAL. “There's a Silver Lining Through each Dark Cloud Shining” ‘The song by that title, which was highly popular during the dark days of the war, might easily be applied to the pre- sent business and financial sit- uation, For the investor who buys the best American common stock: today’s low prices, there will be a “golden fining” to the business clouds of today. Already signs of improve- ment have appeared on the horizon and leading experts have predicted gradual recovery of business. Massachusetts Investors Trust offers, through a single security, an owner- ship interest in 140 outstanding American common stocks. Write for descripti folder. Use coupon. Address luv:smem Pankers ‘WOODWARD BUILDING 'WASHINGTON, D.C. Guaranteeing The Trade Mark Satisfaction 100 I.INE F. B. KEECH & COMPANY Members of New York l.!a. Exchange Other principal stock and eommodity exchanges. This is a good time to analyze your investment holdings, and our Statistical Department will be pleased to furnish a detailed report on any listed securities. Orders handled promptly on all the principal stock and commodities exchanges, both domestic and foreign. H CORNER 17TH ST., N. W., WASHINGTCON NATIONAL 0245 New log“.‘“'.f.llnn Brookiyn D“"“Pflmlu START the bNEW YEAR INVESTING WISELY VERY time some one Temporary fluctuati sells, some one else has market are immate to buy. Who is buying stock The average inves today? share this opportunity by Every indication is that this ~ purchasing Super-Corporations is so-called “wise-money” of America Trust Shares. This buying. The general public security represents ownership is apathetic. But shrewd men in 30 of America’s most firm- the country over, ly intrenched and in- y's market an un- dustries. Composite Moody opportunity for _safe rating “A.” le investing. They Tt offers convenience, a lib- g and putting away eral return, boxes a well nities for pro of seasoned of wide diversification. common “stocks in outstand- We shall be glad to furnish ing American corporations. full details on request. Price at the Market, Around 6% Robert C. Jones & Co., Inc. Investment Bankers 210 Investment Bldg. “Years of Investment Experience” ME. 2922 Want to get in touch with, three capable salesmen of good char- acter, backed by good production records, who might consider change to new selling field of su- perior stability. Good income. Riding on crest of wave even in this present depression. Should appeal particularly to bond and security salesmen. This Company has had a business career of eighty- eight years and paid out over Six Hundred Ninety-Eight Millions of Dollars in dividends. Address BOX 424—E, Star Office. 1247% 47% Am Water Wks (3). 10 108% 98 Am Wat W 1st pf (‘) 204 5% Am Woolen... z 44% 15% Am Woolen pf. 9 1% Am Writ Paper ctf: 44% 10% Am Writg Paper pf., 17% 3% Am Zinc Lead & Sm.. 81% 25 Anaconda Cop (2%). 53% 19 Anaconda W&C (1). 24 Anchor Cap (2.40). . 10% Andes Copper (1). 18% Archer-Dan-M (2) 61 Armour of Del pt ( 2% Armour of Il (A). 1% Armour of Ill (B). 25% Armour of 1l pf (7). 3% Arnold Constab 4% Artloom Corporation Artloom pf (7).... Asso App! Ind (4)... Asso Dry G (2%). Asso DG 2d pf (7)... Atch To & S Fe (10).. AtchTo & 8 F pf (5). At] Coast Line (110). AU Guif& WI@A).. 55% 51% acknowledges that the - hardening in money is temporary and of no signifi- cance. The chief occasion for anxiety lies m another field, namely that of commodity prices. It will be hard to establish confidence in stocks while the grain markets are so severely de- pressed. Early Market Higher. Following an 1rregular and uncertain opening the market established an up- ward trend in early dealings. Gains in the pivotal stocks ran to a peint or so, the chief influence seeming to be short covering. There was still some tax sell- ing, but it was not on so large a scale as on Monday. Reflection of reports of progress in the rallroad executives’' conferefice oh the Eastern consolidation situation came in higher prices for railroad stocks. New York Central and Baltimore & Ohio were the leaders, being up 2 points, New Haven was another strong carrier issue, Among the industrials, U. S. Steel started in fractionally lower, but soon made the loss, and before the first hour was over was selling higher on the tape. American Can, Westinghouse Electric, Union Carbide & Carbon, Al- lied Chemical and Air Reduction all made gains of greater or lesser extent. The shorts in J. I. Case and in Auburn Auto covered at higher prices. % Emerson Brant (A).. Endicott-John (5)... Eng Pub Sv pf (5%7. Er6RR........ Erle RR 1st pf (4)... Eureka Vac Cleaner.. Evans Auto Loading. Exchange Buf (1%). 4 Fairbanks Copf... Fairbnks Morse 1.60. Fairbanks M pf (7).. Fashion ParkAs pf..1508 Fed Motor Tr (80c).. 2 Federal Screw (1)... 1 Fed Wat Svc A 2.40. 6 Federated Dept Strs.206s Fid Ph Fire In (2.60) 1713, Filene's pf (6%)....200s Firestone T & R (1) trends show marked changes. As 1930 improvement seems certain. The r it is, the sounder will be the foundation for & further advance. “Whtile there are plenty of financial clouds on the business horizon, the worst of the storm has passed. Whether inereased prosperity comes in early Spring ‘or later, Washington is in a po- sition to enjoy more than its share of the expected improvement,” the presi- de rdt dof the Bankers' Association con- cludet Washington Gas Light Net Off. btal ngt,Income of the Washington Gas Light Co. in November amounted to. $6 1, compared with $79,744.50 in November, 1929, according to the re- port filed today with the Public Utili- ties Commission. Operating revenues totaled $516,746.09, agrinst $495,402.03 in the same month last year; operating expenses required $359,307.20 in comparison with $325- 845.35 a year ago, leaving a total oper- ating income of $127,751.73, compared with $138,747.32. Non-operating income amounted to $3,556.81, compared with $4,211.81 last year. After all deduction the gas com- pany had a gross income of $131,308.54, compared with $142,959.13. While the Teport shows a good gain in operating income the falling off in net earnings appears largely due to the higher oper- ating costs. ‘The gas company reports for the first 11 months of the present year oper- ating revenues of $5,093,878.04, against Sr)lUB 930.49 in the com.spondmg pe- riod in 1929. Operating expenses re- quired $3,408,942.09 this year against $3,363,382.32 a year ago, leaving a total ;)}x:}rdlmg anr»l;no oflsl ;8:) .073.77 so far s year, against the higher figure of $1,426,053.1 last year, i Gross income was $1,410,358.14, against $1,459,311.32 in 1929. Total deductions Irom gross took $675,256.83, in compa son with $670,811.20 a year ago. T left a total net income for the 11 months amounting to $735,101.31, com- pared with the higher figure in 1929 of $788.500.12. Georgetown Gas Files Earnings, The Georgetown Gas Co, today re- ported operating revenues of $96.386.63 in November, against $87,203.72 in No- 1920; operating expenses of $79,513.23, against $66,544.64 last year, 1g an operating income of $13,- 4, against $16,237.31 a year ago. all the usual deductions, the Georgetown company had a net incoms of $9629.85, in_comparison with $12, 978 November, 1929 For the 11 months the company re- ported operating revenues amounting o $951,481.60, against $893,006.57, and total operating expenses of $722,643.95, compared with $677,065.68 in the first 11 months of 1629, The gas company had an operating income of $187,172.32, against $171,49023 last year. Thus the net earnings make a better showins this vear than in 1929, being $146,125.80, 21% Bush Terminal (1%) compared with $132,260.70 in the same 7 DEETernnc i - Eoppared i a1 4 1% Butte Copper & Zine.. 7 % Butte Superior. ... Wilkins Co. Declares Dividends. 10 Butterick Co . Gotham Silk Hos! board of directors of the John AR A i Sl , coffce merchants, have 42% Calif Packing (4). - 5 Gouiboublere v > regular semi-annual divi- % Callahan Zino & Id.. o= gt L bk b £ 4 per cent on outstanding pre- 28% Calumet & Arzona.. e { stock and a dividend of $1.50 7% Calumet & Hecla. ... el e LA are on the outstanding common 10 Campbell Wyant (3). s dividends are payable 301 Canada Dry G A (3). Grand Unton. . ends are payable Grand Unfon of (35 1.1080s 1930. 4 Granite City St (3) 20 Grant (WT) (1)...e 6 Exchange Is More Active. Gr Noreh pf(5)e..on Washingion Stock Exchange to- Great Nor Ore(12%). wed considerable activity fol- its recent unhusual dullness. Traction again attracted at- 1 by dropping to 41%, ex-divi- at the close. The stock opened 2. However, the day's sales were 40 shares nston opened at 104 and closed on a turnover of 55 shares. Mer- naler recorded a 30-share transfer s, ex-dividend. Both Potomac ic Power preferred issues appeared - board and 18 shares of Prince rges County Bank & Trust Co., sold 21% @ _uw susaanzSnm 13% 14% 12% 13% ll“ MOST RIGID FILE EVER BUILT The New Year is just around the corner. DBetter and Bigger Business is here for the taking—and calls for more Cabinets. * The BERLOY is the out- standing Steel File Cabinet of the era. There’s a size and style for every office rcqmremcnt Have a Represen with ‘catalog and prices! obligation. STOCKET =i PRODUCING STATIONER 9 = E-3 ST - - WA/ WASHINGTON -DC Next to the NEW PEPCO Blds. @« ) pEeBalBoa 179% 4 104% 95% Complete Investment and Brokerage Service Copy of Onr “Fortmightly Review” Farnished on Request G. M.-P. MURPHY & CO. Members New York Stock Exchange 1510 H Street Connecticut at K WASHINGTON Telephone National 9600 Philadelphia Florsheim Sh A (3).. Follansbe Bros ( 7% Foster Wheeler (2).. Foundation Co. 4 Fourth Natl Invest.. Fox Film (A) (4) 5 Frank Stmon pf (7). 100s 4 Freeport Tex (+5)... 17 Fuller 24 pf (17.40). 170s Fuller pr pf (17.94). 200s Gabriel Co (&) Gamewell Co (5 Gardner Motor. Gen Am Investors. .. Gen Am Inv pf (6).. 4 Gen Am T’k Car (34) 42508 Gen Asphalt (3). 52, Gen Baking pf (8). Gen Bronz Gen Cable, % Gen Cable A. ot g Due January 1, 1960 sen Clgar cesesnn - Gen Electric (1.60) 4 43 C“Q'xwm ]wf:hm ifi}’;;\lmzfi it 3 B ayable on January 1, 1931, wil . R be paid in New York st the ofice - of the T , 195 Broadwa Gen Gas&El A(e30c) 23 or in Boston at his ofice, 125 Milk Screet. Gen G & Elcv pf (6), 2 3 Gen G & E1pf A (T).. 908 H. BLAIR-SMITH, Tosasuck GenG & E1pf A (8). 50s Gen Ital Ed (a2.62) 2 Gen Mills (3) s .ue lu Gen Mills pf (6)..... Gen Motors (13.30).. 401 Gen Motors pf (5)... Gen Outdoor Adv, 4 Gen Out Adv (A) (4). Gen Print Ink (2%). 50s Gen Print Ink pf (6) .525s 4 Gen Pub Sve b6%stk. Gen Ry Signal (5)... 30 ' Gen Ry Signal pf (6) 208 105 4 Gen Realty & Utll... 25 5% Gen R & Ut pf (e8) Gen Refract (t14%).. Gen Theatre Equip Gillette Saf Raz (4 Gillette Saf R pf (5) Gimbel Bros. dden Company . 4 Glidden pr pf (1) Gobel (Adolf). Atlas Stores (n1) 60% Auburn Auto (§4). 15 Austin Nich pr A (3) 60s 1 Autosal .. 5 1% Autosales pf. 3 2% Aviation Corp of Del’ 101 19% Baldwin Loco (1%). 27 84 Baldwin Loco pf (7). 220l 55% Balro & Ohlo (7) 70% Balto & Ohlo pf (4) 50'% Bang & Aroos (3% 116% 106% Bang & Aroos pf (7). 10s 20% 8 Barker Bros ¢€2). 208 91 b8% Barker Bros pf (6 )1001 8% Barnsdall A (2)..... 36 62 Beatrice Cream (4). 46% Beech-Nut Pkg (3)..3795s 48% 214 Belding-Hemingway 67 76% Bel N Ry pt pf 15.51. 14% Bendix Aviation (1).3250s 16% 30% Best&Co (2)....... 10 34% 47% Bethlekem Steel (6). 157 494 112% Bethlehem St pf (7). 23 Blaw-Knox (1%).... 161 Bloomingdale Bros. . 15% Bohn Alum&Br(1%) 59'% Bon Ami (A) (15)... 1 Booth Fisherfes. 5% Booth Fish 1st p: . 60'% Borden Co (K3)....0 15 Borg, Warner (1). % Botany Con M (A)... 12% Briggs Mg (+1.62%) 15% Briggs & Strat (2)... 1% Brockway Mot Trk.. 13 Brockway Mot pf. 55% Bklyn-Man Tr 98% Bklyn Union G 10 Bruns-Balk-Col...s. 5% Bruns Ter & Ry 8.... 11% Bucyrus (1)..... ..s 21 Bucyruscv pf (2%). 22% 107% Bucyrus pf (7)... 110% 11nv. lmv. 3% Budd (E G) Mfg B8 SB e 6% Budd Wheel (1). 8% 8% 9 9% Bullard Co 114 11% 11% 84 Bulova Watch (3). 71% Burns Bros pf (7) 18% Burr Add Mach (1).. Money to Loan Secured by first deed of teust on vailing_interest and Jnsepl: I. Weller *3%,% 8414 ive call No Bldg.. hmmlumm»mlnmm Copawy ive Year Sinking Fund 5% Gold Debentures Baltimore First Mortgage Loans On improved Real Estate in the District of Columbia and nearby Maryland and Virginia for 3, 5 or 10 year terms on your . Y% RANpDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESPONDENT National Savings & Trust Co. Oldest Savings Institution in the District of Columifa Cor. 15th and New York Ave. 64th Year 10 1; Office Building Business Property $83333838332882% 30 416% 6415 484 8214 Goodrich BF pf (7). . Goodyear Tire (5)... Goodyear 1st nf (7 New York Life Insurance Company Surplus 1321 Connecticut Ave. Decatur 3600 PROPERTY MANAGEMENT Janu ary L] A 3 record as of December 31, Apartment House More In MANAGEMENT ore Income From Your Dividend Checks Pending reinvestment, keep your Interest Cou- pons and Dividend Checks on deposit at this inter- est-paying bank, and they’ll add to your income. fSuch funds may be used to open a Savings Account. The New Year is an excellent time to get started, thriftward. OFFICERS: WILLIAM D, HOOVER.... WOODBURY BLAIR..... FRANK STETSON, ice Pres. and Trust Officer Tow 22 Caterpillar Trac(1é) 75 24 Cavanaugh-Dobbs pf150s % Grigsby Grunow. % . 2 % Guantanamo Sugar.. 8 g 7 Guantanamo Sug pf.. 2 Gulf Mobile & North. Gulf Mob & N pf (6). Gulf States Stes Hacken pf A (1%)... 4 Hahn Dept Store: Hahn Dept § pf (6%) Hall (WF) Pr Co (3). Hanna pf (new) (7), 4 Har Wk Ref (12% Hartman (A) (2). Hartman Corp (B) Hawailan Pineap (2) Hayes Body. Helme (GW) Hercules Mot (1.20 Hercules Powd (3)., Hershey Choo (5). ... Hersh Choe pf (16).. Holland Furn (12%). Hollander Sons. . Houdaille Hershey. « Household Fin pf (4) Houston Ofl (b10%). Houston Ofl (new).. Howe Sound (14%).. Hud&Man Ry (; Hudson Motors (l) 8’“! 23‘4 Hupp Motors. 24 % (Continued on Page 142 o 'OU’LL find it a most agree- able relief to be freed from the worrying details of managing your apartment house properties — plus an appreciable increase in net income—when you place their conduct in our hands. SAUL CO: Nat’l 2100 t dend 1 e 8474 30% 315 5 18 Cent Azuirre As 1%. 189% Cent RR of NJ (t12). 21 Cerrode Pasco (4).. 2 Certain-teed Prod. .. 6% Certain-teed Prod pf 14% CheckerCab (1.80).. 32% Ches & Ohio (2%)... 32% Chesapeake Corp (3) % Chic & Alton. . % Chic & Alton pf. 4% Chio Great Western. 12 Chicago Great Wnpf 1 4% Chic M1l St P & Pac.. 155 46% 7% Chic MilSt P& Ppf. 201 89% 281 Chi& Northwn “). “20! 85 140% 102% Chi &N W pf (7 37 7% Chic Pneu Tool. 55% 223 ChiPneuT pf (3%).. 126% 46% Chic R1&Pac (7)... 104% 81 ChicRI&P DI (6).. 32% 10% Chickasha Cotton Ofl 67% 22% Childs Co (2.40) 43 144 Chrysler Corp (1) 49 344 City Ico & F (k3.60). 79 City Ice & F pf (634) m- su 214 City Stores (50¢) 16 Clark Equipment (2) 21 . Cluett Peabody (3).. 2 -28% e $38388888883881883383828832382382882383282333¢ ...President hington Gas bonds were in better 1st V. Pres. and at recent levels, while Barber P 6145 figured in a $1,000 sale at 83, Tomorrow will be one of the big- gest days of the year for dividend pay- ments on logal issues. » —— e BANK CLEARINGS. l'l"NEW YORK, December 30 (Spe- clal) — Today—New York bank clearings, $1,395,000,000; New York bank balances, $169,000,000; New York Federal Re- serve Bank credits, thl,MO.W. A year ago—New York bank clear- fivs 81, IBI,OBOM Nfl York blnk ,000; % ml mm undlh. momom }000 66666606000 06006004 innsasiconniilflle Aup f ?pm Until § ‘or the Convenie AP, > 925 15th St. N.W. P.M. Dec. 31st and Jan. 2d e of Pay-Day Depositors 3 909959999309399595% $999940959995994999993099% 00 0000000000000022222222222¢ MORTGAGE LOANS