Evening Star Newspaper, January 17, 1931, Page 11

+ chairman, Joshua Evans, jr., president, + of that firm at Hartford, Conn., and is FINANCIAL. PLANS DEVELOPING | FOR BANK PARLEY Credit, Safety and Serviee to Be Stressed at Manage- ment Conference Here. BY EDWARD C. Plans are progressing quietly for the | coming Central Atlantic States Bank Management Conference, to be held in Washington on February 26 and 27, which is expected to draw from 1,000 to 1,200 bankers to the Capital. The con- ference is one of several such confer- ences to be held in the near future,| sponsored by the American Bankers' Association, with three chief aims in | view, “to educate bankers in the proper | use of redit, to protect the banks' de- ! iters and to provide adequate serv- to communities.” In addition to the members of the District Bankers' Association, promi- nent bankers will be present from New York State, -New Jersey, Pennsylvania, Delaware, Maryland, Virginia and West Virginia. The best methods in management as applied to present day conditions will be presented by speakers and a'so dis- cussed by the delegates. The program is in competent hands, as is the pre- inary work of the other committees. The committees appointed at the recent eliminary session held in this city ollow : General chairman, Robert V. Flem- ing; vice chairman, Lanier P. McLach- | len; secretary, F. W. Simmonds, and assistant secretary, George O. Vass. Bankers Arranging Parley. Advisory Committee—Francis deH. Janvier, president Delaware Bankers’ Association; Mark M. Holmes, presi- dent New York Bankers' Association; H. Morris. president New Jersey “Bankers' Association; W. Walter Wil- son, president Pennsylvania Bankers' Association; Alexander Armstrong, president Maryland Bankers' Associa- tion: C. C. Barksdale, president Vir- ginia Bankers' Association; D. R. Rich- ards, president West Virginia Bankers’ Association; Lanier P. McLachlen, pres- ident. mm'm of Columbia Bankers' As- sociati Ptlbllclly Cammlt'.ee —= Chairman, ‘W. Stimmonds; vice chllrman. George 0. Vass, secretary, D. C. Bankers' Asso- ciation; Warren K. Ayres, secretary, Delaware Bankers' Association; Clifford F. Post, secretary, New York Bankers' Association; Armitt C. Coate, secretary, New Jcrsey Bankers' Association; C.F. Zimmerman, secretary, Pennsylvania | Bankers' Association; James W. Mc- STONE. Virginia Bankers’ C. W. Beerbowerucremn Virg! ‘nia - Benkers’ Association. Registration and "Hotel Reservation Committee—Chairman, Edward J. Mc- Quade, vice president, Liberty National Bank; vice chairman, Victor B. Deyber, resident, Second National Bank; W.J. &luer C. P. Jacobsen and F. H. Cox. Transportation Committee — Chair- | man, C. H. Pope, vice president, Mun- sey Trust Co. Program Committee—Chairman, H. H. | McKee; vice chairman, John Poole; Howard Moran, L. P. McLachlen, Prancis G. Addison, jr.; ex-officio mem- bert V. Fleming and E. W. nd. Committee on Information — Chair- man, E. E. Mountjoy, deputy manager, American Bankers' Association; vice District National Bank. Columbia Building Association. All directors of the Columbia Perma- nent Building Association have been re- | elected as follows: Melvin C. Hazen, . B. Leary, L. Perry West, Floyd Davis, Albert H. Taylor, Alpheus E. Riddle, William P. Richards, Howard R. 1 Norton and Pred A. Smith The directors re-elected these officers: Melvin C. Hazen, president; Williat P. Richards, vice president; Floyd E. Davis, treasurer; Fred A. Smith, secretary: C. Clinton Jzmes, attorney, Committees have been re-elected as follows: Floyd E. Davis and William P. Richards, Valu- ation Committee; Ernest M. Colvin and Walter G. Davis, trustees; Melvin C. « Hagen, william P. Richards and Alpheus Riddle, Finance Committee. The as- e by officials, has shown a steady growth during the past fiscal year, gomg over the $1,000, nool « mark in assets. ” Schiavone Honors Morrow. Joseph Schiavone, formerly president | of the International Bank in this city, who took an active part in the recent political campaign in New Jersey, is giving & dinner tonight at the Racquet Club in honor of Senator Morrow. Among local bankers invited are John M Riordon. M. D. Rosenberg, H. L. Of- futt, Francis G. Addison, jr.; Wade H. Cooper, Maurice Otterback, Fernando Cuniberti, Joshua Evans, Clarence Bur-] ton, Ezra Gould and Robert N. Harper. | Financial District Notes. It is believed here that Ignatius T.| Fulks, 98 years old, who has just been re-clected a director in the PFirst Na- | { NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Nofia-—u:ll stocks are sold I’; excepting those designated whlc% shows those stocks were sold in odd lots. ~Prev 1930~ aigh. 87% " 9 151 3b% 43 Stock ana Low %) 64 Airway El Ap (60¢). % Ajax Rubber.. E 4% Alaska Juneau(40c). 6 Albany Wrap Paper. 5% Allegheny Corp..... 170% Allied Ch & Dye(n6) 21% Allis Chalmers (3) Am Ag Ch of Del. one hundred-share lots Bates— Prev Dividend Rate Add 00. High Low Close Close ) 19 the letter s (80s) (250s), 19% !B‘( 84% 15 74 4“ . 1 60% Am Bank Note pf (3) 108 30 Am Br Siwe (2.40). 6% Am Brown Bov Elec. ¢ 104% Am Can (15).. Zdu tional Bank at Gaithersburg, is the old- | 121‘4\ est bank director in this part of the ecountry. He has been a director ever since the bank started in 1891 Arthur Ketcham, associated nth\ Hemphill, Noyes & Co.'s Washington of- | fice, has been transferred to the office | succeeded here by Thomas M. Sloate. from the Wilmington, Del.. office of the company. Mr. Sloane formerly lived | Bere. | Bavings bank deposits in New York | State during 1930 gained $205,800,000, | representing the excess of deposits over withdrawals during the year and estab- lishing & new high record in the his- tory of the savings banks of the State | 8t $4,732,643,349. BUSINESS FAILURES. By the Assoclated Press Business failures last week almost | doubled the number recorded in the | previous period as their change was cal- culated by the Department of Com- merce. In the figures that follow the | index is given for comparable periods, | based of representing the 1923-25 aver- age as 100 Weck ended January 10 Previous week .. Same week last )eflr DIVIDENDS DECLARED NEW YORK, January 17 (#).— Regular, 8. Company Rate. riod. ABie Wae's = pow o 1.25 Bunte Bros § Cepital u-n.nmom 25c ansen Hidrs. of record. 147% 19% 153 a2 109% 120 950 614 18% 98% 54l 24% Am Car & Fdy (6 85 Am Chicle (13) 9 Am Com Alcoh 25 Am & For Power ... 5% Am Hawalian S S. 16 Am Internatl «2). % Am La Fr & Foamite 18% Am Locomotive (2). 29% Am Mch & Fdy 1.40. . 131 “Am Metals&Min (1) 20 Am Nat Gaspof (7).. 3% Am Pow & Lt (11)... 15 Am Rad&Std San(1) 28 Am Roll Mill (n2)... 52 Am Safety Rasor (5) 5 Am Seating 35 Am Shipbuilding (6) zn- 20 3714 Am Sm & Ref (4)... 23% Am Steel Fdy (3) 170% Am Tel & Tel.(9) 9815 Am Tohacco (5). 99% Am Tobacco B (5). 47% Am Water Wks lz) 5% Am Woolen. 15% Am Woolen pf. 3% Am Zinc Lead & Sm 25 Anaconda Cop (23%) 2% Armour of Tl (A) 1% Armour of Il (B). 25% Armour cf Il pf (7) 19 AssoDryG (23%)... 168 Atch To & S Fe (10). 16% At Refining (2) . 60% Auburn Auto (f4)... 2% Aviation Corp of Del 19% Balawin Loco (1%) 55% Balto & Ohlo (7).... 103 Bamberger pf (6%). #5 Barnsdall (A) (1). 23 Bayuk Cigar (3). 62 Beatrice Cream (4). 101% Beatrice Cr pf (7). 46% Beech-Nut Pkg (3) 14% Bendix Aviation (1 30% Best & Co (2). Blaw-Knox (13%) 16% Bohn Alum&Br(1 60 Borden Co (k3).. 15 Borg, Warner (1)... 12% Briggs Mfg(11.62%) 1% Brockway Mot Trk. 13 Brockway Mot pf... 55% Bkivn-Man Tr (4).. 33% Brown Shoe (3)..... 21 Bucyruscv pf (2%) 6% Budd Wheel (1) 71% Burns Bros pf (7)... 97 Bush Term deb (7). 1% Butte Copper & Zlm‘.. 331 Byers (A M). . . 41% Calif Packing (4) 7% Calumet & Hecla. ... 304 ada Dry G A (3). 85% Can Pacnew (2%).. 7 Capital Admin (A). 83l Case (J 1) (6)..... 22 Caterpillar Trac(14) 3 CelotexCo... ..... 2 Certain-teed Prod. 6% Certain-teed Prod pf 14% Checker Cab (1.80).. 32% Ches & Ohio (234). . 321 Chesapeake Corp % Chic & Alton Chicago Great Wn pf 4% Chic Ml St P & Pac. 7% Chie M) St P & P pf. 28% Chi & Northwn (4).. 7% Chic Pneu Tool 22% Childs Co (2.40) 14% Chrysler Corp (1) 2 64 1 308 7 6 8 11 1 % 47808183% 2 6 kl 4 34 1 169 79 City mtwut.mi 10s 9 191% 1334 Coca-Cola 18) 4814 Coca-Cola A (3) 44 Colgate Pal-P (2%). 97 Colg-Palm-P of (6).. 12 Collins & Alkman 18% Col Fuel & Iron (1).. 20% Col Gas & El (2)... 99 Co!Gas& EInf A «6) T4 Col Graphoph (a%). 66 Columbian Card 16 15% Comm Credit (2)... 14 Comm Solvents (1) 735 Comylth & So (60¢). 6% Congoleum-Nairn. . 71% Conn Ry&L¢ pf(414) 10 24% Consol Cigars (5) 7% Consol Film «2) 78% Consol NY () 99's Cons Gas N ¥ of (5). % Consol Textlle. 54 Coptainer A (1.30).. 16% Conul Baking A..... 2 Contl Baking B. 62 Contl Baking pf (8). 43 Contl Can (2%). . 9% Contl Dia Fibre (1). 87% Contl Insur (2.40). 2% Contl Motors. ...... 7% Contl Oil of Del 815 Cont) Shares (1). 65 Corn Prod (13%). 74 Coty Ine 3% Crosley Radlo 101's Crucible Steel pf (' i 2% CubaCo . .. 33 Cuba R Rpf (6) % Cuban Dom Sugar. 38% Cudahy Packing (4). 112 Curtis Publish pf (1) wright Corp Wr Corp A.. 69% Del Lack & Wn (6).. 11 Devoe & Ray (1.20). Diamond Match..... Dia Match pf (1.50). 6% Dome Mines (1).. .. 12 Domn Stores (1.20).. 57% Drur Corporat (4) 80% Dupont de Nem (4).. 114% Du P de N deb pf ¢§) 142% Bastman Kodak (18) 34% El Pow & Lt (1) 84% E) Pow & Lt pf (8 99 ElPow & Lt pf (T). 100 El P&L pf 70% 4.90. 47% El Storage Bat (5) 224 Erie R R S 9 3 s R aRapEneRoan - ® By IS aTren R L et 1 we_® & eeFrnlamd ololen 21% Exchange Buf (1%).480s 15% Firestone T& R (1) 53% Firest T & Rpf (6).. 38% First Nat Strs (33%) i3 Fisk Rubber. 1% Fisk Rubber 18t pi 3714 Foster Wheeler (2). 18% Fourth Natl Invest. 164 Fox Film (A) (4) 24% Freeport, Tex (4). 1 Gardner Motor. . 3% Gen Am Investors. 22% Gen Asphalt (3). 36 (en Cable pf (T 110% Gen Cigar pf (7 415 Gen Electric (1.60) 44% Gen Food Corp (3). 3% Gen Gas&E) A(e30e) 89 Gen Mills pf (6). 31% Gen Motors (3) 91% Gen Motors vf (6)... 56 Gen Ry Signal (5)... 3% Gen Realty & Utll. 1 IRI% 107 110 103% 182%4 106% % 109 55% 10 31 4% 827 841 103% % 8 21 214 72 ~Prev.1930~ High. 62% 2% 136% 831 28% 239 98 30% 17% 18% % Bl 197% 14% % 1% i 106% Nat Supply pf (7)... 30: Stock and Low. Dividend Rate. 18 Hudsop Motors (3). 7% Hupp Motors....,.. 65% [llinois Contral (7)., 70% Illinois Cen lsIn (4) 3 . [ndian Refining. .. 147% Ingersoll Rand (16). 68 Inland Steel (4)..... 6% Inspiration Copper. . 4 Insuranshar,Del 40c. 1 5 . Insctfs (Md) (80c). 18508 6 1% Intefcont Rubber. .. 3% Int Agricul Che 131 Intl Bus Mach ¢ 1V Int] Combustion. ... 454 Intl Harvester (1%). 183 (ntl Hydro El A (e2) 52% (ntl Match of (4).... 15 Int Mercan Ma (1).. A0 . 39 16 28 7 11:5‘ 12% Intl Nick of Can (1). 10 2 Intl Pap & Pow (C). 36 Int Rys Cen A pf (5). 10- 31 Int] Salt (3) 17% Intl Tel & Tel (2) 25 Island Cr Coal (4) 48% Johns-Manville (3). Jones&Laugh pf (7).130s 120% % Jordan Motor Car. .. 4% Karstadt(R) (al1.03). 14% Kayser Jullus (2%). 1 Kelly-Spring Tire, 19% Kelsey Hayes (2) 7% Kelvinator Corp . 20% Kennecott Copper (1) 51 Kinney (GR) of (8). % Kolster Radfo...... 4% Kresge Dept Stores. . 264 Kresga (SS) Co 160. 20% Kreuger&Toll (1.60). 17t% Kroger Gro&Bak(1). 70% Lambert Co (8)..... 4% Lenigh Valley Coal. 14% Leh Val Coal pf (3). 51% Lehman Corp (3).... 78% Liz & Myers B (15). 41% Loew's Inc (3).8... 84 Loew's pf xw (614).. 214 Loft Ine 40% Loose-W Bis (2.70) 8% Lortllard (P) Co. MeCrory (A) (2).... 14% Mcintyre Porc M (1) 61 McKeespT P (143). 6 McLellan Stores. ;.. 33% Mack Trucks.(4). 5% Manati Sugar pf.... 24 Man Elev mod g (45) 17% Marine Mid (1.20)... 414 Marmon Motor Car. . 24 Marshall Field (23%) 30% Mathieson Alkali (2) 15 Maytag Co pf (3). 9% Mexican Seaboard 7 Miami Copper 38% Michigan Steel (214) 3% Minn Moline Pow. 3% Minn & St Louls 84 MStP&SSM . 14% Mo Kan & Tex (a3).. 60 Mo Kan& Tex pf (1) 20% Missouri Pacific. 79 Missour! Pac pf 18% Monsanto Ch (g1%). 154 Montgomery Ward. . 1% Motor Meter G & El. 14% Motor Wheel (3). 6% Mullins Mfg. . 25% Munsingwear (3). 9 Murray Corp. . . 3¢ Myer (FE) & Br (). 21% Nash Motors 2% Nat Bella Hes: 68% Nat Biscuit (2.80) .. 27% Nat Cash Reg A (3). 35 Natl Dairy (2.60). 41 Nat Steel (2) 36 NatSurety (5).. 9 Nevada Copper (1. 15% Newport Co (2). 106% N Y Centra) (8). 67% N Y N H & Hart 108% N Y Steam 1st pf (7) 1 4% Norfolk & Southern. 4% North Am Aviation. 67% Nor Am (b10%stk). 99% North Am Ed pf 16). 41% Northwest Tel (3) 16 OMOONCO §2)..... 48% Otis Elevn (23%). 494 Pacific Gan s ) (2). 7% Pack Mot Car (60c). . 34% Param Publixz «4). 2% Pars Transport. 1% Pathe Exchange. o 264 Penick & Ford (1) 185% People’s Gas Ch, (5). 5% Petrol Corp (1%)... 6% Phila Read C& L 11% Phillips Pet (2). 16 Pierce-Arrow A (z) % Plerce Ofl .. 8415 Pitts Steel pf (7). 86 Pitts Unit Cp pf(1). 10% Poor & Co (B) (2) 20 Postal T &C pf (7). 11% Prairie Ol & Gas m 16% Prairie Pipe L (15). 3% Pressed Steel Car . Eh Proct & Gamb (2.40) PubSvNJ (340) . 13 PubsvN3 pICT) 47 Pullman Corp (4 7% PureOll...... 904 Pure Ol pf (§) 36 Purity Bakeries (4). 11% Radio Corp . E 47 Radiopf A (33 . 314 “adio Corp (B) (5).. 14% Radio-Keith-Orph A. 58 RRSec1CstkC (4). % Reis (Robt) & Co. 14% Rem Rand (1.60). 7% Reo Motor Car (80c). 10% Republic Steel 10 Reynolds Metals (3) 1 Reynolds Spring. . -3 B JOVOTR. SRR s @ S BrrRuswiamnns nvaBonw oares o L0 Jot SOTOP- SOT0) - FRPNUIN- - foreyere 14 Y a oo @ - » 2ol 3 1 1 N 0s 1 45 11 1 . 208 20 10 4 8 34 70 Reynolds Tob A (3).11 40 Reynolds Tob B (3). 4% Richfield O1l. 5 5 Rio Grande Ofl 14% Rossia Lnsur (2.20).. 36% Royal Deh(m1.3404). 19% St Joseph Lead (2).. 39% St L-San Fran (8 4 Bchulte Retall 8 % Seaboard Alr Line. .. % Seab'd Air Line pf 43% Sears Roebuck $2%. 1 Seneca Copper 3% Servel Ine. . 204 Shattuck(FG)(H134 5 .5% Shell Unton Ol.... 65 Snell Un Ol pf (534) 4% Shubert Theater: 11 SimmonsCo........ 9% SinclairCon Oil (1).. 104 Skelly Oil. 10% Sou P Ric 8 40% Southern Cal Ed (2) 3% Sou Dairt 88 Southern 4815 Southern Rwy (8) & Sparks Withing (1). 56 Stand G & & pt (4).. 1%. Stand Invest Corp. . 42% Stand O1l.Cali(h2%). 14% Stand Oil of Kan (2). 4315 Stand Oil of N J (12) 19% Stand O/l N Y (1.60). 5 ter] Sec pf (1.20) 2% Sterling See (A).... 14% Stewart-Warner (2), Bk 2 146% 2 STACKS ARE FIRM INLIGHT TURNOVER Price Changes - Fractional During Draggy Week End Session. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 17.—With the smallest first half hour of trading of the year to date and quiet conditions thiough the rest of the session, the stock market today was able to main- tain a moderately firm tone. Some issues increased the gains established in_Friday's late operations. It was a market without much color and where fractional fluctuations were in the majority. The abrupt turn in sentiment late Friday had the effect of modifying the attitude of the profes- sional traders. It also led to some caneellation of selling orders by commission houses whose customers had been uneasy over the daily average declines of large pro- portions early in the week. Trade Reviews Cheerful. ‘There was not much in the day's news to encourage or discourage trad- ers. Sentiment expressed in the com- mercial reviews was generally cheer- ful, indicating a slow but sure pick-uj in numerous lines of industry. Wi Street had a revival of what was one a popular and frequent rumor, namely, that Secretary Mellon was about to resign. This was immediately denied. Grain mlrkeu were steadier. Bonds continued in good demand and at higher prices, both in the domestic and for- eign divisions of the market. Such evidences of sluggish trade as were given in the figures of December imports and exports, and in the falling off in bank clearings, occupled little attention in the minds of those who ‘vx‘re the buyers and sellers of stocks ay. & The motors, especially General Motors and Nash, were quite active and showed signs of accumulation. United States Steel and Vanadium maintained most of Friday's substantial net advances. gevlen;efl( u;e rails, ud New York Cen- al, Pennsylvania and Chesapeake & ©Ohio, displayed a firm tone. The com- munication stocks, American Telephone & Telegraph, International Telephone & Telegraph and Western Union, were all strong. Pressure Lighter. Pressiire lpmlred to have been lifted from the me dising shares and_from the electrical and food issues. In all cases the changes, however, were moder- ate, and, from a long-term standpoint, without much significance. (Copyright, 1931.) INCREASE IN LOANS FOR EUROPE URGED Head of Canadian Bank Believes Foreign Credits Should Be Ex- P tended by U. S. By the ummea Press. NEW Y/ January 17.—8ir Her- bert Holt, heul of the 1 Bank of Canada, concurs in the belief expressed recently by Albert H. Wiggin, chairman of the Chase National Bank, that the most important factor in establishing satisfactory conditions is a normal flow of loans from the United States to foreign count patome e B e 8.2 statement made c tl ew York office of L&l “The nations of the world must ndjun their economy to a non-export basis. “I also entirely agree that industry ::’nno! nl:‘_:u:". l';;e‘:.l to changed condi- ns w ut cu operating expense, and unless there l.s‘ln immediate im- provement in the prices of commodities 1 do not see how some general reduction in wage levels can be avoided.” Sir Herbert said that the drastic fall in the price level has greatly increased the burden of international debts and has accentuated a condition which was already acute, namely, the positicn of reparations and war debts. “Thus the Young plan signed within the year impos:s a greater burden of debt on Germany than did the Dawes plan, providing that total payments should reduced to the extent of an u;aprol;emem in the pufchasing power of gold.” “The sooner this whole questioh is taken out of the realm of politics and international recrimination and dis- cussed on its merits, the better it will be Tor the world,” he concluded. CHICAGO DAIRY MARKET, CHICAGO, January .17 UP).TBHMGI' —Receipts, 10,318 tul unchanged. 50%a21; {resh graded Arste, 108193 ordinary firsts, 16a18. Oflerl to Buy Stock. NEW YORK, January, 17 (#). —-M- eral Motor Truck Co. offered purchase at par and mcmed muult all or any p: of its outstanding $400,- ?l)(;sg per cent notes, due November The Cambria-Majestic 1324 Euclid St. N.W. Two Rooms and Bath Reasonable Rentals FIRST REPORT ON AIRPLANE MANUFACTURE IS MADE the Associated Press. u mmxvp:lrntm d reports l:' censes, ane aircraft manufactured. In addition, there was manufactured 710 military aircraft delivered to the Army and Navy during the 12-montk peflod of mr;’d"fl manufacture 250 ships were e- type ships were in slight there -being, exclusive of the planes exported, 1,143 molwphml and 1,092 biplanes manufactured during the year. GROUP INSURANGE BENEFITS INCREASE |- Reports Show Nearly One Million Per Month Paid OQut by Company. William J. Graham, vice president of the Equitable Life Assurance Soclety of the United States, in reviewing the group death claim experience of the soclety for 1930, calls attention to sev- eral interesting facts which bear out the value of group coverage in industry in the Um'&d States. “During year 1930, sald Mr. Graltam, "tl‘u muluble Dl-ld out $11,- 092,017—or nearly $1,000,000 a month— in group death claims. This sum was paid to beneficiaries of 6,048 employes and the average claim paid amounted to $1,834, which is more than the aver- age annual income of American work- ers. Wives and mothers were the bene- ficiaries in 70.97 per cent of the cases and the balance of the claims were paid to other relatives, heirs or friends. “The records indicate that 42.85 per cent of these group-insured employes carried no other insurance; that 7.03 per cent carried $250 or less; that 9.29 per cent carried $251 to $500; that 16.09 per cent carried $501 to $1,000, and that 24.74 per cent carried $1,001 and_over. ““The contemplation and analysis of these death claim records indicates again the value and the place of group insurance in the solution of economic mh]emlm which ‘confront employes in ust # Production o{ Elecme:!y By the Associated Press. Production of electricity by the elec- tric light and power industry of the country for the week ended January 10 was estimated by the National Electric Light Association as 1,707,233,000 kilo- watt hours, which was a slight increase over the previous week. However, it was 5.5 per cent below the correspond- mgperiod!nuflo-ndolpermtbe- low the same week two years The central industrial region :hnud & further decline in output, as wmwed w1t.h last year, production being 9. per cent below the figure for 1930. 'l'he Atlantic seaboard continues, however, to record an increse, being 1.2 pu cent ahead of last year, while ‘the Pacific Coast shows a decrease of 3.2 per cent. BOND ISSUE AWARDED. BALTIMORE, .YAIIIIII'! cial) —Harris, Forbes & Co. awarded the $300,000 issue of W: ton Suburban Sanitary District, Mary:- land, 4% per cent bonds on 98.315. Two other syndicates ted bids. A group headed by cantile Trust Co. and Stein Boyce of Baltimore bid 97.769, syndicate headed by Estabrook & bid 97.209. Money to Loan ;e lm:l"lfll‘m‘rfl. Joseph I. bhllcr BwELE b Blds., 9th & F N.W. First Mortgage Loans In Arlington County and exandria, Virginia Commonwealth Investment Co., Inc. 806 15th St. N.W. Phone Nationsl 2623 Mortgage Loan Correspondent_for The Prudential Insurance Co. of America First Mortgage Loans Lowest Rates of ‘meren and Commission Thomas J. Fisher & Company, Inc. " "On our liberal 20 monthly repayment plan. Noi ones her: Peoples Personal Bankers, INC. Rhode Island A t. Rainier, Md.| Phones Hyacisville 117038 THE STABILIZING INVESTMENT —the investment which by rea- son of ifs definite interest, im- BUSINESS UPTREND £ NOTED N REVIEWS Weekly Trade Reports Indi- cate Continuation of Re- cent Gains. Special Dispatch to The Star. NEW YORK, January 17.—Increased activity in the steel industry, with in- creasing orders from the sutomotive | o lants following the return to work of 00,000 men in the Detroit area, are i ind sttt e o it JANUARY INTEREST TOTAL $232,046,060 - lnn week. Other evidences of Immve incls increased or goods and a seasonal increase in the i sales of heavy Winter goods, due to the | Bond lodemptibu as Well as Ma-- id weather. “Bradat s in part: | turities ‘Also Reach Large old the full Sum This Month. noted last week and even to have added to it slightly in the case of the automobile and steel industries, where further accessions to working forces have been made. steel, aside from some rafl orders, the notable de- velopment has been the placing of very large orders for pipe and further loosen- ing up in specifications for automobile material. Coal Trade Improves. ‘The coal k‘xe also has noted a slight increase in ying. Add]tlonl"y in- teresting features of the week been mflf: lnurest manifested in wool, hides and I this nvhhly at the East, whnre dry m ‘men’s wear and jewelry have also rem“ more doing. In the hardwood in in the central val- l.y more lnqumee are visible, 'hne the report from the softwood industry is of | 2o continued rather quiet conditions ruling. eral veduclon by iceding. tire man- | Byesment i uction by e man- “facturers. in nrices of automobile tires | Foiiassgd Anance which, it is admitted, brings them down to the lowest prices ever recorded. It may be said of tires as of automobiles themselves that if lower prices are 4n o ald to trade and industrial recovery, these two lines are certainly in the Shivpt van in the work of rehabilitation and | g 2uf rebuilding.” Gains for Basic Industries. Dun’s Review says in part: “Having with more enwul aging lndh:nlom in some quarters, Special Dispatch to The Star. NEW YORK, January 17.—Interest to & ... be pald on domestic and foreign cor- porate dollar bonds will amount to $232,- 046,050, while maturities, redemptions’ |and calls for these classes will total | $293,810,106, ccording to the Standard Statistics Co. of New York. Detadled figures covering the principal classifie cations for the two groups follow: Calls. re- demptions & Taturitios: b ¢ e 2,167,750 8,199,506 e v vaes- Interest. ; Mnrunn! ‘rlnnm and mr 37,616,000 10,962,000 munity from financial viscissi- tudes and the complete security assured to principal — keeps income on a dependable keel. Over a Third Such an investment are our new year has its fll‘lt Iormight vm.hy-.n exm”uz?o( the gains in sentiment and in actual business m certain channels. Without disregard- u.u‘.m 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 RANDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESFONDENT New York Life Insurance Company 1321 Connecticut Ave. \ ANNUAL REPORT ‘WASHINGTON LOAN & TRUST COMPANY Of the District of Columbia, to the Comptroller of the Currency, as requlnd Section 16, Act of Congress approved October 1, 1890, for the year ended De- cember 31, 1930. Capital stock authorized .. cnplul stock actually paid in Gross for year ended Total expenuu for year ended December 31, 1930, Toul u.uount of debts, being amount due depositors . JOHN B. LARNER, Presis JOHN BARTON PAYNE, FRED] V. 8, H. EA k JOHN H. CLAPP, CHARLES P. STONE, C. B. KEFERSTEIN, JOHN A. JOLINB'I’ON WALI'!RE Tsfi me OLIPHANT, J L'IO KOLB, GEORGE A. KING, ‘WILLIAM E. PEARSON. MELVILLE B. GROSVENOR, We, JOHN B. LARNER, Presidenfs ALFRED H. LAW!ON Secretary, and JOHN JOY EDSON, HARRY G. MEEM, mmt mlnct.m of the Wuhlnnon Loan & Trust Com that the above is true to the best of our know] 1. . JOHN B. LARNER, President. ALFRED JOHN JOY EDSON, m,us.;g‘ 16,254,588.968. " JOHN JOY EDSON, - - HARRY G. MEEM, HARRY G. MEEM, JOHN H. CLAFP, Directors. Distriet of Columbia, ss.: Sworn to and subscribed before me this 14th day of January, 1031. $ (Seal.) FREDERICK A. GENAU, Notary Public, D. O. ‘Total number of directors of this company, twenty: 3 & S1PPOPPPDLOLODPP0POO00P No Smoke, No Smeli, No Bang fuel, bonalin, invented in Ger- many...it comes in a tube like toothpaste; when squeezed into a cigar lighter it’s a clear liquid, nonexplosive, odorless, smokeless. SUCH is the report on the new Today more than ever we demand safety in our conveniences. And in the field .of finance we are through playing with dynamite—we demand proof of the unfailing returns and un- failing safety of every investment. And so it is no wonder that so many added hundreds of investors have turned to the assured safety of First Mortgage Notes. For more than 61 years the 6% First Mortgage Notes 871 Stone & Webster (4). % 184 Studebaker Corp (3). 116 Studebaker Co pf (7) 3135 xfim (D E) 1% pi 3178 Manchester Coton M.§4 Mich Pub Berv 77 sold through the Swartzell, Rheem and Hensey Company have given safety of principal, and unfailing interest re- turns, to every investor. Through all that period of wild financial ups and downs, no investor has ever suffered a penny's loss, ecither im interest or in principal invested. 39 Gen Refractories (4) 5% Gen Theatre Bquip. . 4% Gimbel Bros.. .... 18 Gillette Saf Raz (4). 7 Glidden Company-. 3 Gobel (Adolf). 29 Gold Dust (2%). 16% Goodrich (B F). .. of @ # Century Without a 6% FIRST MORTGAGES" Not only profit-yielding, but free from all worry—and avail- able to small as well as large investors. % Superior Ofl. 8% Sweeis of Amer (1) 28% TexasCorp (3).. . 40% Tex Gulf Sulph (4).. 10 Texas Pac Land Tr.. 102 The Fair pf (7). 3% Thermold Co. . 6% Tide Water As (80c) 58 Tide Water As pf (6) Timken Det Ax (80¢) cits 1le Wew Amsterdary Cas 300 gill shares Inc .F.‘ e Loss 16 Grand Stlv Stra(h1). 10 Grand Union Granite City St ( May be purchased in amounts from $250 up. B. F. SAUL:CO. National 2100 SWARTZELL, RyeeEm & HENSEY CO. MORTGAGE BANKERS 27 15 STREET N. W, / SHINGTON D.C. 17% Grt Nor Ore (2 7 Great Western ritd 85 Gr West Sug pf (7). 2% Grigsby Grunow.... 166 % Guantanamo Sugar.. . 21| 231 63 Fahn Dept Stores... 5 2% 38 Hl;‘h VI‘IG‘;RQI"(‘-;)- . Corp of Am. . . n . 26 92% 77% Helme ) C voe i - S 1234 1183 Heroules Pow ot (1} 1108 um O-Ilhl. 5 Houdatlle Hnlll! .IHK " "Su?“x?r'y"x‘:' : e o Buehe i 116% 204 Houeton Oll: 11% - u-&u-. Q Lue Jan. 3 o e e B g e A w wged fi'“ w;?a Birox' " Cor, Capital Manage