Evening Star Newspaper, January 30, 1931, Page 13

FINANCIAL. FRR FRIDAY, JANUARY 30, 198% EMBARGO GN RUSSIA PRODUCTS IS URGED Towa House Member Suggesfs Method of Curbing Convict FINANCIAL. RETAIL SALES HERE| [ NEW YORK STOCK EXCHANGE MAKE FINE RECORD ’ THE EVENING STAR, WASHINGTON, D. C, 'STOCKS IN ADVANCE AS SHORTS COVER indentured labor had entered. m;.; of enfm‘ce'mznt, because it is impossible to ldem.lry the psmhc;ll;r shipment -t.: having partly or wl passed thro the hands of convict or forced l.horu NEW SECURITIES REAL ESTATE LOANS at Low Interest Rates Stock and Dividend Rate. Duluth S S & Atl... ~Prev. High. 1031 Note—All stocks are sold in one hundred-share lots ol excepting those designated by the letter s (80s) (2508), which shows those stocks were sold in odd lots. ~Prev. High. 12Y% 464 3014 21% % 103% Reserve Board Reports Trade Figures for Washington and Fifth District. BEY EDWARD C. STONE. ‘The Federal Reserve Board this noon | anncunced full details on department | store sales in the 12 Reserve districts in December and also stated which kinds of goods were the most in de- mand during that period. The Rich- mond rve district reported & drop in sales of 4 cent, compared with the December figures a year ago, and a falling off of 3 per cent for the whole | year. This is a far better showing than the average for the whole United States, in which the sales avercge was down 9 per cent in December and 7 per cent 1931~ Low. Abitibi Pow & Paper. Abitibf P& P pf (6). Abraham Strauss Adams Exp (1.60). Ahumada Lea Air Reduction Airway Alaska Junea d. n (1434) 21 Ap (60c). u (40¢) Alleg Corp. .. Alleg Cp $10 ww 5} Allied Ch & Dye (n6) Allied Ch & D pf (7). Allis Cnalmers (3) . Alpha Port Cmt (2). Amal L Ame; Am Agri Cho Am Bank Not ther pf a Corp (2). £ Del. . e (13) Am Brown Bov Am Br B Ept Am Can (+5) Am Can pf (7 Am 1) “ar & Fdy (6). Am Chicle (13)...... Am Comel Alcohol. . Am European Secur. Am & For Power. ... 27 5 1 45 1 12 11 12 37 17 Sales— Add 00. High. Low. Close. Close. 11% 461 207 207 1y 98 ™ 8% 10 54 161% 123% 6% 1T% 1184 146 31% 42% 915" 24% 31 11 44 2974 2014 5 95 8% 84 9% 54 158 123% 36 16% 18 18 25 577% 2% 55 110% 146% 814 424 % 241 29% 1% 4615 2974 20 ] 96 9% 8lg 9% 54 159% 123% Individual sales complled to noon—complete in 5:30 Edition. Stock and Dividend Rate. Prev. 103 43% 254 20% 4 Dunhill Internat. Dupont de Nem (4) Eastman Kodak (18) Eastman Kod pf (6). Eaton Axle (1.60) Eltington-Schild. Eftington-Schild pf. c Auto Lite (6). Elec Pwr & Lt (1) ec Pow & Lt pf (6) ec Pow & Lt pf (7) Elec Stor Bat (5).. Endicott-John (5). Eng Pub Sv pf 6. ans Auto Loading. change Buf (13%). Fairbanks Co pt Fashion Park Asso Fed Lt & Tr (11%) Fed Motor Tr (80c) Federal Screw (1). Fed Wat Sv A (2.40). Federated Dept Strs. First Nat Strs (2%). Fisk Rubber Fisk Rubber 1st pf 4 Foster Wheeler (2) Foundation Co. Trading Volume Increases as Demand for Selected Issues ‘Grows. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 30—Begin- ning with the indusirial specialties, in which the short interest was driven to cover in panic-stricken haste, today stock market moved forward ager sively on increasing volume. Selected issues were in urgent de- mand from the start and as the day went on_the movement broadened out to include the better grade of invest- ment and semi-investment shares. The demonstration against, the shorts, which seemed to have been accurately timed, approached the spectacular. It found the market bare of offerings for the small group of equitles which had been most heavily sold for the decline earlier Labor Imports. By the Associated Press. Hearings before the House Comtittee on Ways and Means on pending bills to forbid the importation from foreign countries of goods produced by convict, forced or indentured labor brought much testimony favoring a transfer of the burden of proof of such labor pro- duction from the Government and American producers to the importers. Many witnesses stressed the difficulty under the present provision in the tarift law for the exclusion of convict-made goods of securing_adequate proof. Representative Ramseyer of Towa sug- gested that as the pending bills were aimed at Russia, the proposed legisla- tion should take the form of an em- bargo against the products of that country. Representative Watson of Pennsylvania_raised the question as to whether the legislation should apply to the transportation by free labor of coal which may have been mined by forced labor. He and others also raised the question as to the effect the restrictive NEW YORK, January 30 (#).—New securities offered today include: North Al can Co., $25,000,000 5 per oent tures due 1961 at 97 and interest ggy&lyfldlclte headed by Dillon, Read Eastern New Jersey Power Co., $1,260,000 first mortgage 5 per cent bonds,, series of 1959, priced at 99 and interest to yield over 5.06 per cent, by W. C. Langley & Co., and Hoagland, — - Aliyn & Co. Note $ /5% Debentures Auecan Teernon avo Teiesears Cowpany Five Year . / Due February 1, 1965 Coupons of these deben yable on Feb: Bebaid in New York at 1, 1931, will at the office + of the Treasurer, 195 Broad: ot in Boston at his office, 125 Milk Street. iway, - \H. BLAIR -SMITH, Treasurer. the new lowered price for ‘Banister’” S hOeS —in the variety of shapes—black and tan calf and grain leathers— Now: $1 1.50 Interesting prices, too, in our Semi-annual Clear- ance Sale of both Women's and Men's Shoes which are featured in the Burt stock. 81 69 68 9 9 544 5314 247 24% T % 20% 19% 10 8% 24 24 80 80 365 35% 17 16% 30 30' 52 5! 50 49 80 £0 1T% 174 30% 29 81 4 Fourth Nat Invest.. Fox Film A (4).. Freeport, Tex (4) Gamewell Co (5).. Gardner Motor. Gen Am Investors. Gen Am T Car (14) 4 Gen Asphalt (3). Gen Bronze. Gen Cable. . Gien Cable A ¥ Gen Cable pf (7). Gen Cigar (4) c (1.60). c spec (60c) . d Corp (3). n G & El A (e30¢). Am & For Pw pf (6). Am & For Pow 2d pf. Am Hawalian SS. . Am Home Pr (4. Am lee (3).. Am Tce pf (6). Am Internat (2).... Am La Fr & Foam pf ® Am Locomotive (2). Am Locomot pf Am Mch & Fdy 1.40. Am Am Am Am Am in the month. Decline in Loans. Probably the continued decline in brokers’ loans during a period when prices had been advancing and the re- sistance the market has displayed to- ward pressure on Thursday persuade the professional operators in charge o the day's proceedings that it was a good time to test out the possibilities on the side of advance. They found the going easy and they made the most of their opportunit Coming down to cases, Auburn Auto, as usual, rushed forward at a pace that could fairly be described as vio- lent for the market nowadays. Before noon it was up between 8 and 9 points. Next came Worthington Pump, which during the same time jumped a full 8 points. Then Lamberi was taken up and, in rapid succession, A. M. Byers. Columbian Carbon, Foster-Wheeler and Vulcan Detinning. In some of these issues pools were plainly at work, and in others the market was readjusting itself to an earnings position better than recent quotations had indicated, but as far as known in none of them was there anything new today to account for the excited advance. The bugaboo that frightened the market so badly Thurs- day—namely, the soldiers’ bonus bill or bills—had seemingly been forgotten. Amusement Group Strong. Besides the specialties already men. tioned, the amusement stocks were | strong, with new highs for this year in | Fox, Loew's and Paramount-Publix. | Radio was bid up again, taking along Radio-Keith to the best since the first of the year. J. I. Case and Westing- house Electric, each of them harboring a large short inter anced on cov- ering. One or two of the baking stocks were International Cement, which is understcod to be making a re arkably good showing, came to life, but it was not so eesy to influence the | more conservative issues. Improvement in a much less degree came into United States Steel, Ameri- can Can and General Motors, although | Motors did duplicate its previous high for the year. The railroads were neg- lected and price changes in this part of the list were irregular. Wabash com- mon sold off again, reflecting the un- favorable dividend action on the pre- ferred issues. Oils were a shade higher but not very active, In general it was a specialty market, Early Market Strong. Specialties and amusement _shares featured a strong and active early mar- ket. The further reduction in brokers® loans, along with earning reports that proved better than anticipated and the belief that a compromise would be reached on the soldier bonus plan, frightened the shorts with the result that a heavy covering movement got well under way before the end of the ! first half hour. Auburn Auto and Worthington Pump were the leaders in this movement, the former moving up to 147, a gain of 73, points, and the lmler rushing ahead 615 points to 82 Coco-cola, | el " Carbon, up were strong spots in the specialties, New highs for the year were scored by Fox Film, Paramount-Publix and Loew Radio and Radio-Keith equaled their previous peaks. Ward Baking A, which was up 6% points Thursday, rose 2'y in the flr.xt half hour today. Illinois Central regis- tered a new high at 88';. Sales in the first half hour approximated 200,000 shares, or about the same as on Thurs- Call money renewed at 11, per legislation might have on exports of American products. In urging restriction of Russian im- ports, E. F. McGrady of the American Federation of Labor, declared the pur- pose of Russia in dumping the goods into the United States is to “break down our markets, wage scales and prices.” He feared the unrestricted im- portations of these products would cre- ate a permanent unemployed roll of & million workers in this country. The National Lumber Manufacturers’ Association said the pending bills which it favored would forbid goods to be fm- ported in the transportation, handling and loading of which, as well as in their fon, convict, forced or for the full year. The Rescrve Board explains that al- lowance should be made for one extra trading day in December, 1930. This would make the D frem a year ago 14 per cent in sales volume instead of 9 per cent. The decreas, of course, WO accol nied by a decline in the level of prices. Sales for December, were much larger in November, on_account ci Christmas buying. The increase this year, how- ever. was of less than est!mated sea- sonal proportions, and the Federal Re- serve Board's index of daily average department store sales, which is adjust- | Am ed for seasonal variation, declined by 4 | i per cent in December. 4 i i i 6% 6 Sales Compared by Districts. Am Ship & Com 11 11 Comparison of department store sales Am Shipbuilding (5) Tt 39 39 by districts for December and the full Am Sm & Ref (4). .. 455 44y ear show the local Richmond district Am Sm & R 2d pf (6) 981y 9814 leading practically all the other 11 Am Snuff (+334). 39% 39%, trade areas. The fifth district and the Am Snuft pf (6) g Kansas City district had the same fall- Am Solv & Chem. . 34 34 ing off in sales in December, but Rich- Am Steel Fdy (3).". 26% 25% mond made & 2 per cent better showing Am (12%) 39 39 Tor the year: Am Sugar Ret (5 48 48 Boston was ahead of the fifth district Am R for the year, but well below_the Decem- Am e L ber sales record. The New York district Lol made exactly the same record as Rich- Sy mond for the year, but reported slower 111 S0 sales in December. Comparisons with 112% 111% the previous year follow: as in va'r2 ter years, than for spf (7). News (14)..... Pow & Lt (11).. P& L pf A st (5) Nad & St San (1) Roll Mill (n2) Safety Razor 63% 634 . Park your car at our expense in the Capital Garage while shopping here. Burt's ~~~=1343 F Caring for feet is better than curing them. “Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission. Joseph 1. Weller % First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc. 806 15th St. N.W. Phone National 2623 Mortgage Loan Correspondent_for The Prudential Insurance Co. of America A @).. Gen Mills pt (6). Gen Motors (3). Gen Motors pf (5). Gen Outdoor Ady. ... n Ry Signal (5)... Gen Realty & Util. Gen R & Ut pt (e6). . Gen Refractories (4) Gen Theater Equip. . Gillette Sat Raz (4). Gillette Saf R pf (5). Gimbel Bros Glidden Co Gobel (Adolf) Gold Dust (23). Goodrich (B F) Goodyear Tire (5). Goodyear 1st pf (7). Graham-Paige. Granby Consol (2). Grand Sil Strs (h1).. Grand Unfon........ Granite City St (3) Grant (WT) (1). Grt North pt (5). Grt Nor Ore (2) Grt Western Sugar Greene Cananea Co Grigsby Grunow.. Gulf States Steel. Hahn Dept Stores. Hall (WF) Pr Co (2) Harb Walk Ref (2) Hayes Body Hercules Pow pf (7). 208 ~ Holland Furn (r“».) Hollander Sons. Houdallle Hershey 51 Houston Ofl. . Houston Ofl (ne Howe Sound (4). Hudson Man pf (5 Hudson Motors (3).. Hupp Motor % Tilinols Central (7).. Indian Refining Ingersoll Rand Inspiration Copper Insuranshar Del 40c. Ins ctfs (Md) (60c). Interb Rap Transit.. Int Bus Mach (n6) Int Carriers (25¢). Int Cement (4). Int Combustion Int Comb Eng pf. ... Int Harvester (2%). Int Hydro E1 A (e2). Int Match pf (4).. Int Merc Marine (2). Int Nick of Can (1).. “ Int Paper pf (7). Int Paper & Pow Int Paper & Pow C % IntPap & P pf (7).. 3 3 39 & Int Print Ink pt (6).. 70 Int Salt (3)..... 3814 Int Shoe (3) 474 Int Tel & Tel (2) 27% Inter Dept Strs ( 16% Investors Equity 7 Manville (3).. 65% Johns-Manv pf (7) 122 4 Jones & Laug pf (7). 120% hnns(‘n\ Sou pf () 61 174 Am Tel&‘relmu Am Tobacco (16 Am Tobacco B (16) ype Fdy (8). pe Fay pf (7). Am Water Wks (3) Am Woolen pf. Am Writ Paper ctfs. Am Zinc Lead & Sm. Anaconda Cop (2%). Anaconda W & C (1). Anchor Cap (2.40). Archer-Dan-M (2). Armour of Del pf (7) Armour of Il A Armourof Il B. .. Armour of 111 pf (7) Arnold Constable Artloom Cp pf (7). Art Met Const (1.60). Asso Appl Ind (4). Asso Dry G (2%)... Atch To & S Fe (10). Atl Coast Line (110). Atl Refining (t2) Atlas Powder (4) Atlas Stores (n1) Auburn Auto (f4). Autosales..... Aviation Corp of Del Baldwin Loco (1%). Balto & Ohio (7). Bang & Aroos (3%). Barker Bros (2). Barnsdall (A) (1). Beatrice Cream (4).. Beatrice Cr pf (7). Beech-Nut Pkg (3) Belding-Hemingwa Bendix Aviation (1). Best & Co (2).... 33 Bethlehem Steel (6). 92 Bethlehem St pf (7). 1 Blaw-Knox (1%).... 8 Bloomingdale Bros.. 408 Bohn Alum & Br1%. 9 Borden Co (k3) 6 Borg, Warner (1 19 Boston & Maine (4).. Briggs Mf (11.62%). Brockway Mot Trk BKlyn-Man Tr (4) . BKlyn Man Tr pf (6). Bklyn Union Gas (5) Bruns Ter & Ry 8. Bucyrus (1) Bucyrus cv pf (2%). BECAUSE— 94% 94% 107 107 59% 57 28% 28 ik 5 5 34m 82 22% 224 31 31 16% 16% 61% 614 3w 3 24 2 3% 34 4y 4w 83 83 20% 2014 26 24% 24% 24 195% 194 116 116 22 21% 8% 47 10% 10% 148 139 T %4 225 21% 80% 79% 64 6214 (. 12% 12% 677 6 108 108 5114 5114 4 3y 20% 19% 3Th 364 52w 505 1224 1224 26% 26 16% 16% 261 24% 69% 69% 24% 244 6215 62 17% 17 3 61% 60 91% 91 110~ 109 % TR 1% 16% 29 2814 112% 112% 104 10 161 161 15% 14 5% 5% 25% 25 Total Num- Bkt annual ber of strict or city. sales. stores. Total 252 cities Federal Res. dist Boston, New Yor! Philadelphia Cleveland Richmond Atlanta . Chicago 8t. Louls Minneapois Kansas City. Dec. (] Money on Hand to Loan on First Deed of Trust 6% Interest Reasonable Commission and Prompt_Replies to Appilcations JAMES F. SHEA 643 Louisiana Ave. N.W. you cannot personally try every known method of home financing, you will have to be guided by the experience of others. The Real Estate Loan Plan of the Metropolitan Life Insurance Company has antisfflctarily assisted thousands of home owners throughout the nation. It was developed to meet the individual needs of persons of large or small circumstances. ‘The figures just compiled by the Fed- eral Reserve Board show that Washing- ton made a splendid showing in retail sales in relation to the records of some 50 seiected cities from all over the country Washington's Fine Showing. Trade in the department stores in Washington is given as exactly the same in December, 1930, as it was in December, 1929. For the 12 months Tetail sales were off 2 per cent. Atlanta made a gain of 2 per cent in December sales and retail trade in Den- ver was up 1 per cent. Newark main- tained sales at just the same pace as last year. All the other cities suffered loses in retail sales ranging from 1 Per cent in Omaha to 24 per cent in Memphis. For the full year Detroit had the hard:st luck, sales being off 20 per cent. They were down 18 per cent in Akron, 16 in Birmingham, 13 in Chicago and Cleveland, 16 in Toledo and Memphu,l and 11 in Louisville, Houston and In- dianapolis. The only city in the coun- try that actually had an increase in sales in 1930 was Oakland, Calif., which announced & gain of 7 per cent, al- though sales were off 5 per cent in' De- cember. Comparisons by Departments. Today's Reserve Board report also gives sales of goods in the various de- n.mems in the stores, comparisons ing made with the average for all the reporting stores. _The averages for the . 4 4 gountry and the Richmond district fol- s = Bullard Co. T - Ll Bulova Watch (3). a dist. Burns Bros B. Burroughs A M 1% % Bush Terminal (2%%) 28% 27 Bush Term deb 1034 103% Butte Copper & Zinc. 1% Butterick Co. 15 15 Byers (A M). 48% 45% Calif Packing (4) 5% 4 Callahan Zinc & I % % Calumet & Arizona 38 3T Calumet & Hecla. 9% 9% Canada Dry. 2315 3244 Can Pacific (2%)... 42 4% Capltal Admin pfA.. 304 30 Case (JI) (8)...... 933 90% Caterpiliar Trac (#h 414 39% Celanese Corp 11m 11% Celotex Co. T Tl Cent Agulrre As’ w.. 224 223 Cer de Pas Cop (2) 23 23y Certain-teed Prod. .. 3% 3% Checker Cab (1.80) 21 20 Chi & Alton. 1% 1% Ches & Ohio (234)... 437% 43% Chesapeake Corp (3) 4815 48 4 Chi Great Western., T % Chi Great West pt. .. 22% 218 Chi M1l St P & Pac. .. 8 B4 ChiMIIStP&Ppf.. 14 13% Chi Pneu Tool. 10% 10% Chi Pneu T pf (3%). 26% 261 ChiR1& Pac () 624 62 Chickasha Cotton Ofl 1% 11 Childs Co (2.40). 218 274 Chile Copper (2). 30 30 Chrysler Corp (1) 17% 17 ty Ice & F pf (65) 1508 784 7714 City Stores......... 3 3% 3% Cluett-Peabody (3).. 1 30 30 Coea-Cola (6)....... 47 1574 154% Coca-Cola A (3). 1 514 b61% Collins & Alkman,... 6 10% 9 Colonal Beacon. 190" 40 Colo Fuel & Iron (1), 19 24% 23% 4 Col Gas& El (2).... 31 37% 364 Col Gas& EI pfA (6) 3 105 104% Col Graphoph (a% ). 26508 8% 8% Columbian Carb (16) 43 95 84% Comel Credit (2).... 5 19% 18% Comcl Cred 1st (624) 10s 77 7 Comel Credit A (3).. 2 35 36 Comecl In Tr (g1.60). 20 28% 28 Comcl Inv Trpf 6%. 1102 102 Comcl Solvents (31). B4 18% 17 Cmwith & Sou (60c). 28 9%y 9% Cmwlth & Sou pf (6) 2 96 954 Congoleum-Nairn... 3 8% 8i Congress Clgars (4). 1 24 2415 Consol Cig pr pf 6%.120s 65 65 Consol Film (2)..... 6 134 121 Consol Film pt (2) 2 174 174 Consol Gas N Y (4).. 40 911 89 Con Gas of NY pf(5) 5 104% 104 Consol Textile...... 28 % % Contl Baking A... 103 265 25% 4 Contl BakingB..... 23 3w 38 Contl Baking pf (8)., 5 T8% 75 Contl Can (2%) . 11 51% Contl Dia Fibre (1). 2 124% Contl Motors........ 1 3 Contl O11 of Del 10 104 Contl Shares (1) 12104 Corn Prod (13%) 10 82 80w CotyInc........ 25 11% 10m Cream of Wht (f2%) 2 20% 294 Cr Cork & Seal 2.40.. 9 36% 36 Crown C&P pf (2.70) 2 34 331 Crucible Steel pf (7) 108 103% 1031 Cuban Dom Sugar...5977s s 34 Cudahy Packing (4), 1 43 43 Curtis Publish (17).. 2 92 92 Curtis Publish pf (7) 1 114 114 Curtiss Wright Corp. 116 44 4% Curtiss WrCorpA.. 2 6 64 Cushmans pf (8).... 10s 98 98 Cutler-Ham (3%)... 1 36% 36% Davison Chemical... 1 15 15 Delaware & Hud (9). 1 151 151 Del Lack & Wn (6) .. 941 94 Diamond Match. . ... 16% 16% Dia Match pf (1.50) 264 264 8% Dome Mines (1) 0% 10 14% Domn Stores (1.20). 17% 17% 1 61% Drug Corp (4)savemm 1% 614 7% 6% é i 7 22 % % 7 772727 Construction Loans in Any Amount WEAVER BRO REALTORS nder State Supervis On our liberal 20 monthly repayment plan. No indorsers required. A strictly dignified and confidential service. Maryland Personal Bankers, 405 Georsts Aves Siiver. Speing, ML 2854-33. Phones Shepherd 34 Washington Building Mortgage Loan Correspondent Metropolitan Life Insurance Company Loans made in_the District of Columbia and mearby Maryland and Virginia District 9486 2 722, 4 20 ///// 7 FINANCIAL INDEPENDENCE FOUNDERS 122 Department. 120% Qilks and vel oolen dress otton wash soods. 120% 561 e CHRYSLER BUILDING NEW YORK Kelly-Spring Tire. Kelly-Spr T 8% pt. Kelsey Haves (2). Kelvinator Corp..... Kendall Co pt (6). Kennecott Cop (2) Kinney (G R) pf (8). Kolster F Kresge ( Kresge ( . 4 Kreuger&Toll(1.60). Kroger Groc&Bak (1) Lambert Co (8) . rt Cmt (1). lley Coal. an Corp (3) Lehn & Fink (3). Lige & Myers B (15). Lima Locomot (2) Liquid Carbonic (4). Loew’s Inc (3). A Loft In Loose-Wiles (+2. 70)_ Lorillard (P) Co. Loulsiana Of1 Louis & Nash (7) Ludlum Steel MeCall Corp (2%). McGraw-Hill (2) McKeesp T P (14 McKesson & Rob (1), 1 McKes & R pf (3%). McLellan Stores. . Mack Trucks (4) Macy & Co (nt3). Mad Sq Garden (60c) 1 Manati Sugar... .1208 Manati Sugar pf.... 508 Manhat Elev gtd (7). 20s Man Elev mod g (d6) 6 Marine Mid (1.20)... Marlin Rockwell (14) Marshall Fleld (2%) Martin Parry. Mathieson Alkalf ( May Dept Strs (n2).. Maytag Co. Maytag Co pf (3) Mexican Seaboard Mid-Cont Pet (2).... Midland Steel (3) Minn Moline Pow Announcé the appointment of | WAGGAMAN, BRAWNER & CO. INCORFQMTED As Exclusive Distributors for the District of Columbia FINANCIAL INDEPENDENCE CERTIFICATES A TIME-TESTED FORM OF INVESTMENT 5 omestics, misling, el Ready-to-wear Accessories. —20 Ofiicers Are Elected BALTIMORE, January 30 (Special). —Robertson Griswold of the Maryland Trust Co. was re-elected president of the Corporate Fiduciaries' Association of Baltimore at the monthly meeting this week. Other officers named were: James T. Carter, Fidelity Trust Co., vice president; J. Howard Miller, Mcr- cantile Trust Co., secretary, and George Sloan, First National Bank, treasurer. Charles W. Hoff, Union Trust Co., and C. Le Roy Milier, Baltimore Trust Co., were elected to membership on the Executive Committee. chitidren’s). Corsets, brassieres Hosiery (women's, childi Knit underwear . Bilk, muslin underwea 16 3 224 54 1 aEboaSosy B aommntes Women's coats, Women's dresses Misses’ coats. SUits... Misses' dresses..... Juniors’, girls’ wear suits. 3 1 Embodying 9 nwrEa i wee S enRomEonenl BILLIONS TO WORK FOR YOU OUGH FIN 4y to purchase an interest in 28 of the Opportumty ing Corporations of American industry by periodic or installment payments as small as $10 per month for a period of ten years. This is accomplished by investing such funds in CORPORATE TRUST SHARES, which constitute dofi nite parficipating ownership in the 28 Corporations through th common stocks. China, giassware Savings Bank Topics Listed. Several local bankers are planning to attend the Eastern Reglonal Savings Conference, to be held in New York in March. The preliminary program an- nouncement states that the conference will take up all matters affecting the development of savings deposits, their conservation and investment, it is an- nounced, with_particular attention to investments. It is pointed out that changing trends in transportation and industry have caused a shifting of se- curities and that the lessened amount of discounts in commercial banks has brought about the purchase of a greater volume of securities by banks. Also dis- cussion will be presented relative to segregation of savings deposits, secur- ing new business, allaying popular nerv- ousness as to bank safety and cost ac- counting. The conference will also d! cuss the new advertising service pre- pared by the savings bank division to stimulate popular savings on a national ; scale The committee in charge of the ban- quet on March 19 includes Howard Moran, vice president of the American Becurity & Trust Co,, who is & member of the Exccutive Committee of the savings bank division of the American Bankers' Association. Heard in Financial District. Directors of McCrory Stores Corpora- tion have declared the regular quarterly dividend of 50 cents per share on the common and class B common stocks, yable March 2 to stock of record bruary 20. Officers and directors of Lincoln In- vestment Corporation were re-elected yesterday at the annual meeting of Stockholders. They are: Kenneth M. Livingstone, president and treasurer; De Vere R. Weedon, vice president; Ed. ‘ward C. Kriz, secretary. Directors are: Edward C. Kriz, Colin H. Livingstone, Kenneth M. Livingstone, Hugo Thran and De Vere R. Weedon. 8. 8. Kresge 1930 net $1.90 a com- mon share, against $2.68 a share in 1929; continuation of $1.60 common dividend rate in 1931 forecast by com- F%m%by North American Co. is w_expected to be in the form of $25,000,000 30-year 5 per cent deben- lhl-‘ ;1::11250 opvrl::. yreler;:g ly re, says ‘Wall Street Journsl, SERVICE In Washington for Forty Years! Founded 1n 1890, tution' has grown' ax pered with the City o ington. Our exceptional growth during the past 5 years 1s the best. possible indication of confidence the public has in our methods . . _their dorsement of our friendly in terest . an acknowledgmen of “out " assistance financial affairs, Open Daily 9 to 5§ Saturdays Until Noon NAtional 1381 PERMANENT BUILDING ASSOCIATION | 949 NINTH ST.. NW. ” UNDER SUPERVISION OF u 3 TREAsURVI]( American Telephone and Telegraph Co. Consolidated Gas Co. of New York Electric Company ghouse Electric & Mfg. Co. Western Union Telegraph Company an Rad. & Stan. Sanitary Corp. an Tobacco Co. (Class B) du Pont (E. I.) de Nemours & Co, Eastman Kodak Company Ingersoll-Rand Company International Harvester Company National Biscuit Company Elevator Company d Fruit Company d States Steel Corporation Woolworth (F. W.) Company Atchison, Topeka & Santa Fe Ry. Co. lllinois Central Railroad Company Louisville & Nashville Railroad Co. New York Central Railroad Company Pennsylvania Railroad Company Southern Pacific Company Union Pacific Railroad Company Standard Oil Company of Ca omh Standard Standard Oil Company (New i ) Standard Oil Company of New Y.I Texes Corporation roviding for the use of Compound Investment freviding fer the v of butions received f,om the 28 Corporations fo purchase an ad tional interest in the same Corporations. in " their :ap by life insurance (without medical examina- Protection tion) which guarantees completion of fhe pay- ments on a FINANCIAL INDEPENDENCE CERTIFICATE for the benefit of the Investor's estate in the event of death. This in- surance becomes effective immediately upon recelpt of the first payment and the issuance of the Crfificate. EMPIRE TRUST COMPANY, OF NEW YORK Trustee ® S 18% 35 28 10214 1% 9% 9515 o The following results were determined by the distributions that would have been received by FINANCIAL INDEPENDENCE SHARE CERTIFICATE holders if this plan of investment, and if CORPORATE TRUST SHARES, had been available for the period 1920 to 1930: With Full Life Insurance Protection Total Cath Payments 120 Months Value at Maturity $1,200 ’2 874.90 2,400 3,600 4800 6,000 =3 (Y- (OORR. P8 JSY.. 1S Mo Kan & Tex pt (7) Missouri Pacific. ..., Missouri Pac pf (5). Mohawk Carpet. Monsanto Ch (£1%)+ Montgomery Ward Mother Lode. ... Motor Meter G & El.. Motor Products (2).. Motor Wheel (3) Munsingwear (3). 11% Murray Corp. 27% Nash Motors (4) _ T Nat Acme (80¢) 3% Nat Bella Hes: 76 Nat Biscult (2. 146 Nat Biscuit pf (7). 29 Nat Cash Reg A (3). 4% Nat Dépt Store. 38% Nat Dairy (2.60) 19% Nat Dist Prod (2). 21 Nat Enam & Stamp.. 25% Nat Pow & Lt (1). 43 Nat Steel (2). 61% Nat Supply (5 107% 41% 10% 20 % 214 30 14% 27% 20 (3 214 381 16% 29 13% 31 8% 4% 7814 149% 84 ® 8 % ansanmSeans Monthly Payments $i0 20 30 40 50 214 38l 164 2919 13% 81 8% 4% 8% 149% 35 4% 42% 2814 21 85% 43% 62 108 62% 11% % 815 6% 8% 27 31 31% 108 % 41 8974 118% 2% 87 95 35 13% 141 80 14% 24% 9% 9% CUARANTY FIRST B | § e i e Denominations $250 Up . High charcter of securities WAGGAMAN, BRAWNER & CO,, INC., Mstropolitan 3860 that guarantee safety of prin- 1700 Eye Streot, N.W., Washington, D. C. G R e R L Please toll me more about your plan for buil purchased on convenient monthly payments. Ask us. as $10 a month, This, of course, involves no Real Estate Mortgag and Guaranty Corp. 1610 K St. N.W. Nat. 1403 Investigate today this outstanding plan of accumulation. Make all inquiries direct to SeRow 4% 42% 28% 21 364% 43% 62 108 51% 11% 110 110 w2 |- 9 - fund for financial independence for as little on. s ma@nndn D e S v oY e sos ve e v vn e o owem) 51% 11% 13 16% 22 Nevada Copper (1).. 110 N O Tex & Mex (7).. 15 NewportCo (2)..... 1 15% 16 15% 22 NY'AirBrake(2.40) 1 23 23, 28 (Continued on Page WA . i s 108