Evening Star Newspaper, January 15, 1931, Page 13

FINANCIAL." COLLADAY ELECTED | AS TRUST OFFICER S § Washington Banks Continue | e iow Onganization Meetings; Lists of Directors Given. BY EDWARD C. STONE. Directors of the Second Nationel Bank, at their organization meeting yest elected Edward F. Colladay, counsel of the bank and trust officer. He takes the place left vacant by the death of Alexander Wolf, and will continue to be counsel for the bank, Willlam B. Wolf, son of the late Alexander Wi who was elected a director at Tuesday's meeting, was elected assistant trust of- ficer. The officers re-elected were: Sanfuel J. Prescott, chairman of the board; Victor B. Deyber, president; Willlam M. Hannay, vice president; Jacob Scharf, vice president; George M. Emmerich, secretary, and W. W. Marlow, caskler. The directors also appointed four ad- ditional assistant cashiers to serve witn J. K. Sayboth, manager of the G street branch. They are Fred S. Beyer, Joseph @ R_Fitzpatrick, Gerald E. Keene and Steuart S. Ogilvie. Many other local banks also held their organization meetings late yester- day, with very few changes in official stafls. Washington Loan & Trust Co. All officers of the Washington Loan & Trust Co. were re-elected, as follows: John Joy Edson, chairman of the board; John B. Larner, president; Har~ G. Meem, senior vice president; Ar- ‘er Peter, vice president and general counsel; Charles H. Doing, vice presi- dent in charge of the West End office; Charles R. Grant, vice president and treasurer; Willlam H. en, vice pres- ident and trust officer; Alfred H. Law- son, vice president and real estate of- ficer; James M. Mason, George M. Fisher, Ralph Endicott, George O. Schweinhaut, assistant treasurers; Nor- man E. Towson, assistant treasurer and manager of the foreign department; Herbert W. Primm, Edward L. Grady, assistant real es:tvteuumwrsnemu.:;gnf Marb Harry AUSS, Amlli“r(y}hnlel M. Ireland, jr., assistant trust officers. Northeast Savings Bank. At the anual meeting of the stock- holders of the Northeast Savings Bank the following directors ‘ereée;}:awd for the ensuing year: Arthur on, H. Brodnax, Walter W. Deal, H. Ready, Guy T. Steuart and P. Steuart. ng the stockholders’ mleeté&x, the (o,\hw officers were re-elect Leonard P. m%feulfl., president; George F. Hoover, first prmde'nl WP“dle Hall, second vice Regi- nald Lewis, mhlexwm 0. Cardm, assistant cashier, and James B. Fiynn, Bank. National Metro- auditor. Joint Stock Land Bank. directors of Potomac Joint Stock were . C. Summers, George A. Harris, john I Cassedy and Vernor United States Savings Bank. Directors of the United States Savings Bank elected the following officers late yesterday: Wade H. Cooper, president; ‘William D. Barry, vice president; Wilber H. Zepp, vice president; William R. De Lashmutt, vice president and cashier, and John F. Cook, assistant cashier, Morris Plan Bank Directors. Morris Plan Bank directors elected at -=‘dent; Willard G, Bar- Ker, vice president and treasurer; Edwin A. Mooers, secretary;- Edwin H. O. Stokes, assistant treasurer, and V. Rhine, auditor and assistant secretary. McLachlen Bank Officers. At the organization meeting the di. rectors of the McLachlen Banking Cor- poration elected these officers: Lanfer P. McLachlen, president; Firman R. Horner, vice president; John A. Massie, vice president and treasurer; Archibald MelLachlen, secretary and assistant treasurer; Guy D. Cowl, assistant treas- urer, and E. L. W. Goldney, auditor. Federal Storage Company. ‘The stockholders of the Federal Storage Co. elected the following di- rectors at the annual meeting: E. K. Morris, James M. Johnston, Harold N. Marsh, Charles P. Stone, H. Randolph Barbee, D. P. Gaillard, Henry P. Er- win, C. Griffith Warfield, Danfel L. Borden, Carroll Morgan, Hanson E. Ely, jr.; one additional director was added to the board, Charles G. Treat. The following officers were re-elected: E. K. Morris, president; Harold N. Marsh, vice president and counsel; James M. Johnston, vice president and treasurer, and H. Randolph Barbee, secretary. The president reappointed H. B, Hall, traffic manager and 8 Webster Adams, superintendent. National Capital Insurance Co. #There was no change in the direc- torate of the National Capital Insurance Co. of the District of Columbia, and the following will serve for the ensuing fiscal year: Arthur G. Bishop, Edward . Brashears, Charles A. Carry, James A. Donohoe. Clarence F. Donohoe, Lewis Flemer, Joseph A. Herbert, jr.; Howard B. Kramer, Morris E. Marlow, Walter H. Marlow, Hubert Newsom, Maurice Otterback, George R. Repetti, Guy T. Steuart and John C. Yost. All officers were re-elected. They are George R. Repetti, president; John C. Yost, first vice president; James A. Donohoe, sec- ond vice president; Walter H. Marlow, attorney, and Willam N. Payne, jr, i secretary. Home Building Association. Directors of the Home Building A.l-i sociation have elected the following of- ficers: Pred L. Vogt, president; R. L. Quigley. vice president; C. Edward Beckett, vice president; James Morris ‘Woodward, secretary; Otto Hermann, assistant secretary, and Willlam K. Reeve, treasurer. Terminal Refrigerating Corporation. Al directors of the Terminal Re- William Appleton P, Clark, jr.; James . Lambie, William M. Hannay, ene E. Thompson, Charles A. Carry, Wi Brown, El.moan . Price and Robert D. National City Dairy Co, ders of the National Oity 8 14% 24 2% % 87% % 5% 170% 120% 814 16% 30 64 38 104% 140% 35 15% 5% 14 46% 2414 16 18% 68% 29% 3 18% 20 361 T4% 15 5% 28 5214 37% 2 5% 238% 110 95 15 170% 9814 9% AT% bl 16% 3% 25 19 10% 13% 2% 1% 25% 3% 20 168 100 95% 16% 97 T 2% 60% 15 2% 19% 84 55% 2% 89 62 101% 214 14% 30% 112% 23 15% 60% 15 12% 15% 1% Bflfi 10 8% 18% 3% 1% 28% ™% 10 30% 35% < Chrysier Corp (1). .. T 654 6% 301 21% 4 7% 8615 6% 12% 8% 99' 5% 2 16% $ 43% 9% 374 % 815 65 140 T 3% 30% 4% 50U 2% 33 2 25 384 35 10 9% 20 69% 11% Devoe & Ray (1.20)., 6% Dome Mines (1). 12 67% Drue Corporat (4) NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct fo The Star Office. -share lots one hundred. the mmo:’d(m) (250s), Baren— Dividend Rats. 404 0. Hien. ADitibi Pow & Paper. 1 9% Adams Bxp (1.60)... & 19 Addressogr Co 1.40, 4 Advance Rumley. Ahumada Lead Air Reduction Ajax Rubberg, Allegheny Allied Ch & Dy Allied Ch & D pf (7). Allis Chalmers (3).. Amerada Corp (3)... Am Agri Ch of Conn, Am Ag Ch of Del.. Am Br 50 (2.40) Am Brown Bov Elec. Am Brown B E pf (7) Am Can (15) Am Can pf (7). Am Chicle (43) Am Colortype (2.40). Am Com Alcohol. . Am Hawailan S S. Am Hide & Leathe; Am Home Pr (4.20 Am Ice (3) Am Internatl (2) Am Locomotive (2)., Am Locomot pf (7).. Am Mch & Fdy 1.40.. AmMach & Metals. .. Am Metals&Min (1). Am Nat Gas of (7)., Am Pow & Lt ($1)... AmP & L pf A st (5) Am Rad&Std San(1). Am Republics. Am Roll Mill (n2)... Am Bafety Razor (5) Am Sm & Ref (4).... Am Solv & Chem .. Am Solv & Chem p! Am Steel Fdy (3). Am Steel Fdy pf (7' Am Sugar Ref pf(7) Am Tel & Cable (5) Am Tel & Tel Am Tobacco (5). Am Tobacco B (5)... Am Water Wks (3).¢ Am Woolen. . Am Woolen pf.... Am Zine Lead & Sm.. Anaconda Cop (2%). Anaconda W & C (1). Andes Copper (1)... Archer-Dan-M (3)... Armour of J1l (A)... Armour of Il (B)..., Armour cf Ill of (7), Arnold Constable. Ass0 Appl Ind (4)... AtchTo& SF pf (l). Atl Coast Line (110). At Refining (12). Atlas Powder pf Atlas Stor Atlas Tack. 5 Auburn Auto (£4) Austin Nich pr A (3) 100- Aviation Corp of Del 4 Baldwin Loco (1%). Baldwin Loeo pf (7).180s Balro & Ohlo (7).... Barnsdall (A) (1 Bayuk Cig 1st pf (7). 101 Beatrice Cream (4). Beatri Belding-Hemingwa Bendix Aviation (1). Best & Co (3).. Bethlehem St pf (7). Blaw-Knox (1%).... Bohn Alum&Br(1%) Borden Co (k3)..... Borg, Warner (1) Briggs Mfg(11.62%) Briggs & Strat (2)... Brockway Mot Trk Bklyn-Man Tr (4).., 98% Bkiyn Union Gas (5) Bruns-Balk-Col.. ..o Bucyrus cv pf (234). Bulova Watch (3). - Burr Add Mach t1%, Byers (A M). . Calif Packing (4).. Calumet & Arizona Calumet & Hecla. ... Campbell Wyant (2). Canada Dry G A (3).. Can Pac new (234).. Cannon Mills (1.60).. Carital Admin (A) Case (J 1) (6)... Caterpillar Trlefll) Celotex Co. .. . Celotex Co pf. Cent Aguirre As 1%+ Century Rib Mill Cer de Pas Cop (2)... Certain-teed Prod. Checker Cab (1.80) Ches & Ohlo (2%)... a0 o © OhACNANNRS LS T Ruwn Sua A - S & w©w AN NN CANRNOANN S BN B DR NN Chicago Great Wn pf Chic M!l St P & Pac. . Chic M1l St P& P pf.. Chi & Northwn (4) Chic Pneu Tool. . Chi Pneu T pf (3%) e Chie R1& Pac (1),.. Childs Co (2.40). City Ico & F (k3.60) . City Ice & F pt (6%) City Stores Coca-Cola 1!) Pal Colonial Beacon. Col Fuel & Iron (. Col Gas & El (2). Co! Gas & El of A (6) Col Graphoph (a% ). Columbian Carb (16) Comm Cred 1st (6%) Comm Credit A (3) Com In Tr (g1.60)... Comm Solvents (31). Comwlith & So (60c). Comwlth & So pt (6) Congoleum-Nairn. Contl Baking | Contl Baking B Contl Can (23%) Contl Dia Fibre (1) Contl Insur (2.40)... Crosley Radlo. Crown C&S pf (2. 70). Crown Zellerback. Crucible Steel (5). CubaCo. . . Cuba R R pf (6). Cuban-Amer Sugar. . Cuban-Amer Sug pt. 100 Cudahy Packing (4). ShEatmn Wi Cutler-Ham (3%) Davison Chemica; Debenhams (70¢). Deere & Co pf (1.40). Del Lack & Wn (6)., Diamond Match..... Dia Match pf (1.50).. PR AB DR I a Domn Stores (1.30) e 80% Dupont de Nem (I).. 71 23 Durham Hoslery pf.. 50s 6% Eastern Roll Mills Stock ana _Dividend Rate, Endicott-John (5). Eng Pub Serv (2.40 Eq omcnmdx 2%) Exchange But (1%). sn. Fairbanks Copt.... 208 Fed Motor Tr (80c).. Fed Wat Sve A 2.40.. Federated Dept Str Fid Ph Fire In (2.60), Firestone T& R (1). Firest T & R pf (6).., Firat Nat gers (3%). Sales— Add 00. xl"h. - B . PSR~ PP T T TS Fox Film (A) (4) Freeport, Tex (4) Gabriel Co (4). Gamewell Co (5) Gen Am Investors. Gen Am T’k Car ($4) Gen Asphalt (8). Gen Baking pf (8). Gen Bronze....... Gen Gable pf (7). Gen Cigar (4) Gen Cigar pf ( 10s 107% Gen Electrio (L. 203 44% Gen Elec spec (600). 5 12 Gen Food Corp (3). .« 13 Gen Gas&El A(e30c) 3 Gen G & El cv pf (8. 5 Gen Mills (3) 2 Gen Motors (3)...+.. 102 Gen Motors pf (5). Gen Pub Sve b6 %stk. Gen Ry Signal (5). Gen Realty & Util. Gen Refractories (4) Gen Theatre Equip.. 43 Gillette Saf Ras (4). 157 Gillette Saf Rpf (5). 2 Gimbel Bros. .. . 1 Glidden Company Glidden pr pf (1) Gobel (Adoif). . Gold Dust (24) Goodrich (B F) Goodrich BF pf Goodyear Tire (5). Goodyear 1st pf (7)., Gotham S H pf (7). Graham-Paige, ': Granby Consol ( Grand Sily St.rl(hl). 1 Grand Unton.... Grand Union pf (3) Grant (W T) (1).ees Gr North of (5)sseem Grt Nor Ore (2)..... Great Western Sugar Grigsby Grunow. Hacken pf A (1%). Hahn Dept Stor Hall (WF) Pr Co Hanna pf (new) (7), 1108 Harb Walk Ref (2) 3 Helme (GW) (17). Helme (GW) pf (7) Hercules Pow pf (7). 108 117 Hershey Choo (5).... 1 88 Hoe (R) & Co. Hollander Son Houdaille Hershe: Houston Ofl. . Houston O11 (new) Howe Sound (4)... Hud&Man Ry (3.50). Hudson Motors (3) .. Hupp Motors. .e.... Il1nots Central (7). amn o s HNARXRO R AR O a0a ° 'S s EYSH Indus Rayon (4). Inland Steel (4) Inspiration Copper. . Insuranshar,Del 40c. Interboro Rap Traa. Intercont Rubber, Intl Bus Mach (ng) Int Carriers (25¢) intl Cement (4) Intl Combustion. .. Int Comb Eng pf. Intl Harvester (2%). Intl Hydro E1 A (e2) Intl Nick of Can (1). Intl Pap & Pow (C).. Intl Pap & P of (7)., Int Rys Cen A pf (5). Intl Salt (3)..... 4 Int Shoe (3) Intl Tel & Tel (2) Inter Dept Strs (2). IntertypeCorp (2) Investors Equity. Island Cr Coal (4)... Johns-Manville (3).. 61% Jones&Laugh pt (7). 10- 1204 Jordan Motor Car. .. % KC P&L 18t pt B (6). 50. 114 Kans City Sou (6). 3 40 Karstadt(R) (al.03). 1~ 5% Kelly-Spring Tire. 1% Kelly-Spring 8% pf. Kelvinator Corp ... Kennecott Copper(2) Kinney (GR) pf (8). Kolster Radio. . Kresge (S8) Co 1.60 Kreuger&Toll (1.60). Kroger Gro&Bak(1). Lambert Co (8)...... Lehigh Port Cmt (1) Leh Port Cém pt (7). Lenigh Valley Coal Lig & Myers B (15) Lima Locomotive. .. Link Belt (2.40) Loew's Inc (3) . Long Bell Lumb (A). Loose-W Bis (2.70).. Lortllard «P) Co.... Lorillard (P) pf (7). Louisiana Ofl. Louis Oil pf (6%). LouG&E (A) (1% Louts & Nash (1) Ludlum Steel. ... MacA & Forb pf (6). McIntyre Porc M (1) McKeesp T P (14%). McKesson & Rob (1), McKes & R pf (3%)., McLellan Stores. ..., 3% Mack Trucks (4)... Macy & Co (nt3). Magma Corper (3) Manati Sugar. Man Elev mod Marine Mid (1.20) Market St Ry 2d pt. Marmon Motor Car. . Marshall Fleld (2%). Martin Parry. Mathieson Alkall (2} May Dept Stra (n2).. Mengel Co (2)...vse. Mid-Cont Pet (3)+++. Midland Steel (3) . Midland Steel pf (8). Min Hon'w Reg (t4). Minn Moline Pow. ... Mo Kan & Tex (a3).. Mo Kan & Tex pf (7). Missouri Pacific Montgomery Ward. Morrell & Co (4.40 Morris&Essex (3% Mother Lo Motor Meter Motor Products (2) Motor Wheel (3). Mullins Mfg. . Munsingwear (3) Murray Corp... Myer (FE) & Br (2).. Nash Motors (4). Nat Bella Hes: Nat Biscuit (2.80) Nat Cesh Reg A (3) Nat Steel (2). Nat Supply pf 1STOCK LIST HOLDS STEADY IN SELLING “ISeveraI Market Leaders De- pressed by Bearish Drives During Day. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, January 15.—Reac- tionary tendencies controlled trading in stocks again today, but the weaknesg was confined to & few specific issues, the general list bade good resistance axl::Lthe railroad shares as a rule held Selling in the early trading was con- centrated -on American Can, Eastman Kodak, Westinghouse Electric, Amer- ican & Foreign Power and, in the low- er-priced issues, Richfield Oil. Taking up these situations in order, the bear party argued that American Can was selling out of line and had not experi- enced the deflation other industrials of its grade had registered. The stock broke through 109, the lowest since the December weakness. Other Losses. Eastman Kodak dropped back 4 to 5 points. This was another high-priced stock which operators for the decline said was selling on too low & yield basis. The loss in Westinghouse. Electric was moderate and the pressure was connected with estimates of earnings for the full year, which it was said were not much above dividend requirements. American & Foreign Power was of- fered in large blocks and reacted easily. The Street had it that 1930 earnings would be only around $1 a share, a flg— ure that was pure guesswork. matter of fact, the company has ot yet published its results for last Sep- tember and it wil be some time before any accurate estimate can be made for the year. Richfield Oil broke to a new low for the bear market in sympathy with the decline in the bonds, reflect- ing the difficulties in the oil trade. Selling in these stocks singled out for attack gave the list an appearance of greater weakness than it deserved. Motor stocks were steady. Most of the time during the morning the erratic Auburn Auto held above its previous close. General motors was only frac- tionally changed. The latter's Decem- ber sales figures made a good impres- sion, as well as the statistics mowmg that the company was increasing its proportion of the total business in the industry. The stock, however, could not make headway against conditions in the rest of the market, Rail Groups. feature was Illinois Central, which went to a new high on the recovery, continu- ing Wednesday's advance. Shorts who tried to cover found a scarcity of stock on the way up. Illinois Central has al- ways been a hard stock to borrow and in recent markets it has loaned at a premium. Baltimore & Ohio was also well supported. Bearing on the general market situa- tlon s the decrease in the floating sup- ply of United States Steel common, The figures, as of December 31, which came out today, showed that 205,422 shares had been taken out of the mar- ket in the fourth quarter. Money continued in excessive supply. The official call loan rate was 11, per cent, but funds could be had on outside at 1 per cent. Early Losses. The market, after an irregular open- ing, sagged fractionally. A number of corporation reports showing, in some cases, larger decreases in earnings than the market had expected, combined with the California oil situation, gave a bearish tone to trading. Richfield Oil of California, men- tioned in connection with a reorgani- zation plan and actively involved in the gasoline price war, opened on a 20,000~ share block off a point at 314, and then in successive blocks of 7,500, 5,000 and 3,800 shares dipped to 3. Money renewed at 1}, per cent. s‘lu in the first half hour amounted to 263,300 shares, against 233,000 Wednes- day. Acnve industrials like United States Steel, American Can, General Electric, "Westinghouse, Woolworth, Radio, Bor- den and Warner Bros, were lower by smell fractions to a point. ~Auburn dropped a point, while General Motors was firm. Vanadium and Bethlehem Steel were off slightly. -American & Foreign Power dropped 1. and other utilities followed. Anaconda and In- ternational Nickel also eased. Texas Corporation and Standard Of of New Jersey followed Richfield and other oils into lower ground. ANTI-INJUNCTION BILL VOTE MAY BE DELAYEQ By the Associated Press. Recent events in the Senate indicate the Norris-Shipstead anti-injunction measure probably will not come up for debate and vote before adjournment, March 4. This view is expressed privately by leaders on both sides of the chamber, who point out that the amount of work before the Senate virtually precludes its consideration. None of the 11 major annual appro- priation bills has yet passed the Sen- ate. These bills are supposed to enjoy preferred status, to have the right of way over other measures. The Senate Republican Committee on Order of Business met last week and issued a new list of pending measures, consider- ation of which was recommended after no mention of the anti-injunction measure was heard in any quarter. Senator Norris, co-author of. the bill, has been engrossed in the Power Com- mission wrangle and in dealing with his Muscle Shoals bill, his most cherished project. He still stands, however, on his pre-Christmas statement that he intends “at the first opportunity” to move that the Senate take up the anti- injunction bill and vote on it. But this opportunity is not now in sight. There are but 47 more working days before adjournment, and night sessions already are being talked of. PARIS BOURSE PRICES. PARIS, January 15 (#)—Prices im- proved on the Bourse today. Three per cent rentes, 86 francs, 30 centimes. Five per cent loan, 102 francs 40 centimes. Exchange on London, 123 francs 87 centimes. The dollar was quoted at 25 francs 51% centimes. 1814—Oldest National Bank in Payday Depositors ~and others, Ralils were comparatively quiet. The | THE EVENING STAR, WASHINGTON, D: C., THURSDAY, JANUARY 15, 1931 CHEVY CHASE DAIRY .z SOLD 7O CHAIN FIRM National Corporation Takes Over D. C. Company as Part of System. Purchase of Chevy Chase Dairy, Inc., | of this city, by the National Dn\ry ucts Corporation, is announced in New ¥ork dispatches today. The deal has been pending for some time and is in line with National Dairy’s steady ex- pansion program, which has made it one of the largest concerns of the kind in the world. The terms of the purchase have not been made public. ‘The present officers of Chevy Chase Dairy Inc., are Raymond J. Wise, pres- ident and treasurer; Spencer L. Wise, vice president, and Bernard M. Wise, secretary. company’s offices are located at Pennsylvania avenue and N street northwest. Chevy Chase Dairy was established in 1885 by George A. Wise and Joseph A. Wise, and in 1902 the partnership of the Wise Brothers was formed and the present name taken. The firm was in- corporated under the laws of the Dis- trict of Columbia cn January 1, 1926, Money to Loan Secured Ir first deed of trust on real estate. Prevalling_interest and commissi Jo!eph 1. Weller ma:' "oln'u "n F Nw. Capital Wanted for Expansion Opportunity for Exceptional Income. Company with headquarters here, doing business elsewhere in a prime commodity, now earning over 35% on small capital, can materially increase its earnings with larger capital. Low over- head; strong reserve; no indebt- edness. Share in control and management. Executive positions open. “Ground-floor” opportunity to get into a lifelong, profitable business. Address Box 43-J, Star Office | OLD MAN OPPORTUNITY says: “Time is essential'to estate building. Those who invest today turn the clock back five years — for security rices are now at 1926 vels.” With Masachusetts Investors Trust you buy 140 choice, carefully selected American stocks in a single investment, and your fund is safeguarded not only by four trustees but the State Street Trust Company as custodian of the Trust’s funds. Send for Dec. 31st Quarterly Report, just issued, giving liss of securities beld. o NvesTmenT Pankers TELEPHONE NATIONAL 2000 ‘WOODWARD BUILDING ‘WASHINGTON, D.C. Address Shoreham Building It makes all the differ- ence in the day’s work whether it is done in dingy quarters or in the bright and cheery offices —planned with experi- ence for comfort, con- venience and efficiency. Thus the Shoreham Building is an asset with its many superior features —including location—and operating service. Let us show you avail- able space—and how it can be adapted to your specific requirements — whether it ‘is a single room—or an elaborate suite. There is prestige to tenancy in the Shore- ham Building, MEKEEVER £ GOSS$ e Representative of the Owners SHOREHAM INVESTMENT COMPANY Rental Office, Room 520 15th at H National 5643 National Metropolitan Bank the District of Columbia—1931 15th St., Opposite U. S. Treasury To Accommodate The Metropolitan will be— Open Until 5:30 P.M. Today ONE DOLLAR or more will open a ings Account, Sav~ 3% on Savings FINANCIAL, ®EB . A__13 POTATO MARKET. GBIOAGO January 15 (U. 8. De- ) - toes—Re- on track, 129 cars; total Bh'nl ts, .l cars; fair; sacked REAL ESTATE LOANS | Made at Low I o e National 0475 First Mortgage Loan Applications Invited at 3 y 7, “" under 1 \#"0n our liberal 20 monthly 7 repayment plan. No indorsers 5 2% {0 \| required. 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