Evening Star Newspaper, February 24, 1931, Page 13

TINANCIAL, BANK CONFERENCE OPENS TOMORROW Atlantic States Financiers to Attend Meeting Here. Program Outlined. BY EDWARD C. STONE. Beveral hundred bankers will gather here late tomorrow and early Thursday for the second Atlantic States Bank Management Conference, which opens a two-day session here Thursday morning under the ices of the ban nagement commi n of the American Bankers' Associaticn, with the District of Col Bankers’ fAssoclation as host. The exact at- tendance could not be estimated to- day, as a large number of Mary- land and Virginia bankers will motor Rome C. Stephenson. 0 the convention without making any hotel reservations in advance. Many of these nearby bankers have already signified their intention of at- tending the meetings. The program, already published, looks unusually attractive. It includes ad- dresses by Controller of the Currency John W. Pole, Rome C. Stephenson, president of the American Bankers’ As- sociation, and Thomas Day Thacher, solicitor ‘general of the United States. ‘The sessions will deal with four major topics, the sound bank, protected bank, profifable bank and practical bank. Robert V. Flemmg president of the Riggs National Bank, will be chairman of the conference, at the request of Lanier P, McLachlen, president of the District Bankers' Association. George O. Vass is serving on the General Committee, and the Program Committee is made up of H. H. McKee, president of the National Capital Bank, and John Poole, president of the Fed- eral-American National Bank & Trust Co Houl reservations are in charge of McQuade, vice president of the leeny National Bank, chairman, and Victor B. Deyber, president of the Sec- ond National Bank. . H. Pope, vice president of the Munsey Trust Co., is chairman of the Transportation Committee, while the Committee on Information is made up of E. E. Mountjoy, deputy manager of the American Bankers' Association, and Joshua Evans, jr., president of the Dis- trict National Bank. Wilson C. & P. Phone Head. Lloyd B. Wilson was re-elected presi- dent of the” Chesapeake & Potomac Telephone Co. at a meeting of the board of directors kheld here today. Marshal D. Sedam, Philip O. Coffin and John C. Koons were re-elected vice presidents, and Walter B. Clark- son, vice president and secretary. Other officers re- elected were H. C. Gretz, general au- ditor; R. A. Van Orsdel, general counsel; Hamilton, Thomas B. son, treasurer. The board al“o authorized addi- tional underground conduit and cable construction in the North-Potomac-Decatur central office district, this project bringing the amount appropriated for gross additions to plant in the District 80 far this year to $481,751. Members of Washington Chapter, American Institute of Banking, are elated that Rome C. Stephenson, head of the American Bankers' Association, has agreed to remain here after the bank management conference and ad- dress the institute's twenty-seventh an- nual banquet at the Willard next Sat- urday night. He will, of course, head- line the program. Mr. Stephenson was elected president of the A. B. A. last October in Cleve- land. He is an Indiana banker, having been born and educated in the Hoosier State. He was born in 1865 in Wabash, studied law and entered practice in Rochester, Ind., in 1887. He went to South Bend and organized the trust eompany which he still guides. Mr. Stephenson has been particularly agtive in the savings bank section of the A. B. A, having been president of that division in 1912. He has served on any number of committees and com- missions, also several times on the executive council. He is married and has two sons, is a Mason, Odd Fellow and member of the Knights of Pythias and a Republican In his political views. He likes golf and plays it when he has time, which is very rarely these days. As head of the largest bankers’ asso- ciation in the United States he has no time whatever to himself. Today's Trading on Exchange. Following the double holiday Capital Traction opened on the Washington Stock Exchange at 3615 on 20 and 10 share sales. The market then-turned 8 bit stronger and 38 more shares changed hands at 36'¢. The final quo- tation was 36 bid and 361, asked. Peoples Drug Stores preferred sol today at 99}z, while single shares of | Mergenthaler ‘Linotype moved at 875 | and 87';. A 25-share block of Wash- ington Gas Light stock sold at 122'z. | the same 8s the last sale. Only two bond sales were recorded Washington Gas 6s, serfes B, coming out at 105, and Washington Gas 6s, series A, at 101!, | The Potomac - Electric Power and Washington Railway & Electric issues, | as well as Lanston Monotype, are now | ing qunlm ex- un idend Lioyd B. Wilson. OUTLOOK IN MACHiNERY ! TRADE HELD BRIGHTER! Bpecial Dispatch to The Sta NEW YORK. February 24 —A bright- | er outlook but static sales activities characterize in_the countrys machinery American ports. ! While clouds of depression are rather ! generally considered to be lifting, the clearing atmosphere has as yet done Jittle to remedy the present difficulties of dealers. January showed an up- turn which Pebruary has thus far failed to continue, with present sales | just holding their own. Inquiries con- | THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Nfl.—All whi are sold in one Stock ana i Dividend Rate. 9 Abitibi Pow & Paper. 39 Abitibi P& P pf ( 164 Adams Exp (1.60) 88% Adams Exp pf (5) 224 Adams Millis (2). 21% Addressogr Co 1.4 2 Advance Rumley. % Ahumada Lead.... 921 Alr Reduction (143%4) % Alrway E1 Ap (60c) . 7 Alaska Juneau (40c) 7% Alleg COTD, .vvvns 39% Alleg Cp $40 ww 6. 15315 Allied Ch & Dye (n6) 122 . Allled Ch & D pt (7). 82% Allis Chalmers (3).. 15 Alpha Port Cmt (2). 17% Amerada Corp (2)... 20 Am Agri Chof Del... 54% Am Bank Note (13).. 214 Am Beet Sugar. 8 Am Beet Sugar pf 32 A?Br Shoe (240). .. 814 AM Brown Bov Ele 45% Am Br B Epf (7) 106% Am Can (15)... 27 AmCar & Fdy (6).. 74% Am Car & Fdy pf (7) 29% Am Chain (3 38% Am Chicle 4x 14% Am Colortyph (1.40) 9 Am Comcl Alcohol. . 19 Am European Secur. 26% Am & For Power. 74 Am & For Pw pf (8). 67% Am & For Pow 2d pf. 7 Am Hawailan8S.... 10% Am Hide & Leath pf. 47% Am Home Pr (4.20).. 23% Am lce (3)... . 1814 Am Internat (2).... % Am La Fr & Foamite 7 Am La Fr & Foam pt 20% Am Locomotive (2). 31 Am Mch & Fdy 1.40 315 Am Mach & Metals. 45 Am Pow & Lt ($1).. 94% Am Pow & Lt pf (6). 80 AmP &L nf A st (5) 15'5 Am Rad & St 8an (1) 141 AmRad & SSpf (7). 10- 7 Am Republics...... 26% Am Roll Mill (n2) .. 57 Am Safety Razor (5) % Am Ship & Com..... 40% Am Sm & Ref (4).4. 129 Am Sm & Ref pf (7). 931 Am Sm & R 24 pf (8) 37 Am Snuff (13%). 214 Am Solv & Chem. 6% Am Solv & Chem pt 25 Am Steel Fdy (3)... 37 Am Stores (123%)... 42% Am Sugar Ref (5). 8 Am Sumatra Tob. .. 15% Am Tel & Cable (5). 1508 1764 Am Tel & Tel (9) 190 Am Tobacco (16 o co B ( 83 Am Type Fdy (8)... 1 Am Type Fdy pf (7). 10= 53% Am Water Wks (3).. 104 544% Am Wat Wkscfs (1) 10 67 Am Woolen. . 4 21 Am Woolen pf. 14 Am Writ Paper pf... 414 Am Zinc Lead & Sm. 30 29% Anaconda Cop (2%). 414 22 Anaconda W&C (1). 1 27 Anchor Cap (2.40)... 28 89% Anchor Cappf (6%). 1 13% Andes Copper (1) 3 15% Archer-Dan-M (2).. 9 60% Armour of Del pf (7) 3 Armourof I A..... 2 Armour of Il B 27% Armour of Tl p! 3% Arnold Constable 5 Artloom Corporation 50s 24% Asso Appl Ind (4). 2 85 AssoD G 1stpf (6).. 22 AssoDry G (2%). 2 178 Atch To & 8 Fe (10). 12 10215 Atch T& S Fepf (5). 1 105 Atl Coast Line (+10). 2 18 Atlantic Refining (1) 39 £%4 Atlas Stores (n1) 2 2% Atlas Tack. 2 101% Auburn Ante (4 223 51% Austrian Cred (3.1 $2) 1 1 Autosales. 2 3 - Aviation Corp of Del 76 20% Baldwin Leco (1%). 24 8814 Baldwin Loco pf (7). 1 681 Balto & Ohio «7).. 72% Balto & Ohlo pf (4) 56% Bang & Aroos (3%). Barker Bros........ 60 65 50 Beech-Nut Pkg (3) 2% Belding-Hemingway 16% Bendix Aviation (1). 32% Best & Co (2).. 59 45% Bethlohem Steel (6). 219 1144 Bethlehem Stpf (T). 1 24 Blaw-Knox (1%)... 10 1614 Bloomir gdale Bros.. 10s 20% Bohn Alum & Br1%. 8 60 Bon Ami (A) (4). 1 1% Booth Fisherles. 6714 Borden Co (k3).. 20% Borg. Warner (1) 1% Botany Con M (A Mf (41.62%). Strat (2).. Brockway Mot Trk 15% Brockway Mot pf 58% Bklyn-Man Tr (4). 85% Bklyn Man Tr pf (6) 103 Bklyn Union Gas (5) 10% Bruns-Balk-Col 5's Bruns Ter &Ry 8 14% Bucyrus (1)... 25 Bucyrusevpf (2%). 4 Budd (EG) Mfg. 9 Budd Wheel (1). 11% Bullard Co. s 11% Bulova Watch (134). 70 Burns Bros cum pf.. 108 21'% Burroughs AMt1%. 14 23% Bush Terminal (2%) b 1% Butte Copper & Zinc. 1 Butte & Superior 12% Butterick Co 37% Byers (A M). 9974 Byers (A M) p! 42% Callf Packing (4) % Callahan Zinc & L4 36% Calumet & Arizona £ Calumet & Hecla. 11% Camp W&C Fy(1). 29% Canada Dry G A (3). xw. Can Pacific (2%). ... 17% Cannon Mills (1.60). 915 Capital AdminA.... 30 Capital Adminpf A.. 98 Car Clin & O sta (). 124 47 14 12 608 341 111 .. 708 26% Caterpillar Trac (14) 45 11 Celanese Corp 3 6 Celotex Co. 415 Celotex vte 225 Cer de Pas Cop @. 2% Certain-teed Prod. % Chi& Alton. . % Chi & Alton pf. f'4 Chi Great Western 19% Chi Great West pf. 5% Chl M! 8t P & Pac. 9% Chi Mil St P& Ppf.. 33 Chi & Northwest (4) 9'3 Chi Pneu Tool. 47% ChiR1& Pae (1) B4 ChiRI&Ppt(6),.. stocks are dred-share lota ting those designated by I.h. l'tufa (lh) (2508), shows those stocks were sold in odd lots. Individual sales complled te uu—oc-fleu in 5:30 um-. Aaaoo m-h tow. Close. G Aew Received by Private Wire Direct to The Star Office. ~Prev. 1081~ High. Low. 0% 22 stock and Divide Congres: Consol Cig pr pf 6 * . 9% Consol Film (2)..... Consol Film pf (2) Consol Gas N Y (4).. Con Gas of NY pf(5) Consol RR C pt (6).. Conwsodl Textile. Container A (1.20) Container B. Contl Baking A Contl Baking B Contl Baking pf ll).l Contl Can (2%). Contl Dia Fibre ll) .. Contl Insur (3.40)... Cont] Motors. Cont) O1l of D¢ Cont Shares Corn Prod ( Corn Prod pf (7).... Cream of Wht ( Crosley Radio. Cr Cork & Seal 2.4 Crown C&P pf (2. 10) Crown Zellerback . Crucible St Crucible Bteel (5)..- Cuba Cane Prod. ... Cuban-Amer Sugar. . Cuban Am Sugar pf. Cuban Dom Sugar. Cudahy Packing (4). Curtis Publish (17). Curtis Publish pf (1) Curtiss Wright Corp Cushman's pt (1). Cushmans pf (8) Cutler-Ham (33%)... Davison Chemfical Deere & Co (1.40) Drlaware & Hud . Del Lack & Wn (6).. Detroit Edison (8) Devoe & Ray (1.20).. Diamond Mateh..... Diamond Mtch pf 1% Dome Mines (1)..... Domn Stores (1.20).. Drug Corp (4). Dunhill Interna Duplan 811k (1)..... Dupont de Nem (4).. Du P de N deb pf (6) Eastern Roll Mills. . Eastman Kodak (18) Eastman Kod pf (6). Eaton Axle (1.60). mungwmsenna . Eitington-Schild pf. Elec Auto Lite (8).. Elec Pwr & Lt (1)... Elec Pow & Lt pf (§) Elec Pow & Lt pf (7) Elec Stor Bat (5).... Emerson Brant A. Endicott-John pt (1) Eng Pub Sv (2.40). .. Eq Office BlAg (2%). Erlo RR....e.00 Erie RR 1at pf (4) Frie RR 24 pf (4). Fureka Vac Cleaner. Evans Auto Loading 62% 42% 31% 38% Fed Lt & Tr pf (6).. Fed Motor Tr (80¢).. Federal Screw (1)... Fed Wat 8v A (2.40). Fid Ph Fire In (2.60) Filene's pf (6%).... Firestone T& R (1). Firest T& Rpf (6). First Nat Strs um. Fisk Rubber. Fisk Rubber 15t pf. . Fisk Rub 1st pfev.. 1708 Florsheim Sh A (3). 3 Florsheim Sh pt (6). 208 Follanshee Bros.... 2 Foster Wheeler (2).. 54 7 8 Freeport. Tex (4). Gardner Motor, . Gen Am Investors Gen Am T Car (34).. Gen Asphalt (3) Gen Bronze Gen Cabl Gen Cable A Gen Cable pf (1) Gen Cigar (4). Gen Cigar pf (1) Gen Elec (1.60)..... 381 Gen Elecspec (60c). 14 Focd Corp (3).. 42 Gen G & Bl A (e30c). 87 Gou Milla 31, . 7 . 6908 ees B . 108 2 338 Gen Motors nf (5) Gen Outdoor Adv. Gen Out Adv A (4).. Gen Pub Sv b6% tk. Gen Ry Signal (5)... Gen Ry Signal pf (6) Gen Realty & Util. .. Gen Refractories (4) 4 Gen Theater Equip. . Glilette Saf Raz (4). Gillette Saf R pf (5) Gimbel Bros. ... Gimbel Bros pf (7 Glidden Co. .. Glidden pr pf (7 Gobel (Adolf) Gold Dust (2%).. Gold Dust pf (6). Goodrich (B F). Goodyear Tire ( Gotham 8fik Hoy Granby Consol (2).. Grand Sil Strs (h1).. Grand Unfon. .. Grand Union pf (3). Granite City St (3).. 26%,Grant (W T) (1).... Grt Western Sugar. . Grigsby Grunow.... Gulf Mobile & North. Gulf States Steel.... Hackensack W (1%) Hahn Dept Stores Hall (WF) Pr Co (2) Hanna pt (1)... Corp (A).. Corp (B).. Ry pf (8).. Hayes Body.. Hercules Powd IX) ve Hershey Choc (5).... Hersh Choc pt (15).. Hoe (R) & Co Holland Furn (12%) Hollander Sons. ..... Houdallle Hershey. . 15% Household Fin pf (4) 10 Houston Oil. 5 8 3 Houston Ol (new).., 27 Howe Sound (4).. 23 Hud & Man Ry (3.50) 6 Hudson Motor (1)... Hupp Motors. I1linois Centr: Indian Motor Cycl: Indian Refining. Indust Rayon (4). Ingeraoll Rand (16). Inland Steel (4). Inspiration Coppel Insuranshar Del 40c. Insur Shrs Md(40c). Interb Rap Transit. . Int Combust pf ctfs.. ~ Intercont Rubber. .. interlake iron (1) Int Agricultural.... a4y 208 14% 354% 100 126%g129% nsv.‘ns 49% 28% 4% 29 35 18% 99% 102% 42% % 7'-‘ 2% 1% 2 108%_108% 42% P. | PRICES CONTINUES 20 $ou ThelList Absorbs Considerable 18% 9816 102% 40 ~ 7|w. 59 13% 50% 3% 1% 11 R6M 4 | greater strength than was displayed by 121% 1% 176% 131% 18%4 10 65 65 564 95% 107% 63 1% 108% 42% 32 384 C., TUESDAY, IADVANCE IN STOCK Profit Taking on Way Up—Ticker Late. BY CHARLES F. SPEARE, Special Dispateh to The Star. YORK, February 24.—The speculative momentum which has rapidly been gaining force, and which carried the stock market at the end of last week to the highest average for the year for all groups of shares, was even more pronounced today when business was resumed after the hondav Not in many months has there been such great activity and on few days the leaders in the various groups of securities. The machinery of the Stock Exchange was under test to keep pace with transactions and actually fell be- hind as much as 8 minutes in the first half hour, when sales amounted to 900,- 000 shares. It was not until near mid- day that the tape was up to the market. Public Interest Increases. ‘The public interest was reflected in a striking increase in commission house business, although there were abundant evidences that the pools were supplying & high percentage of the buying orders. In view of the recent 10-point aver- age advance, following one of about the same size early in February, the vitality of the market today wes a surprise even to those who felt that it had not yet discounted the change in sentiment or its technical position. Scores of stocks sold at new h:;‘h prices for the year. Among these greatest significance attached to the advance in U. 8, Steel above 150 by midday and in American Telephone & ; Telegraph well above $200 a share. Other issues in which the attainment of new high prices meant that a great deal of profit taking had been absorbed were QGeneral Electric, Westinghouse Electric, Consolidated Gas, Internation- al Telpehone, Chrysler, American & Forelgn Power, North American, Ana- conda, Bethlehem Steel and United Corporation. Such movements as oc- curred in Radio Corporation, in_which there was a large turnover at a 3-point advance in the forenoon, reflected pool operations and were in evidence of a returning willingness on the part of the public to speculate and to act with less | discrimination than it has been show- ing in recent months. | Profit Taking Heavy. In breadth and in the extent of the advance the early market stood out | among those of the past nine months. It was to be expected, therefore, that after such large gains had taken place there would Be heavy profit taking. This began to appear toward the end of the second hour and carried numerous shares below Saturday’s closing. On | the other hand, fresh impetus was given to other shares such as Anaconda, In- ternational Telephone, ~Westinghouse Electric, General Electric, Kennecott | Copper United Gas & Improvement and Lambert, all of which sold higher mm before. So far as actual news that mum concerned, very little developed. now taken for granted that President | Hoover will veto the bonus bill and that it will pass over his veto, also that | there will be no extra session of Con- | gress. The speculative influence of the | New York Life I 1321 Connecticut Ave. Coniplete Investment and Brokerage Service Copy of Our “Fortnightly Review” Furnished on Request G. M.'P. MURPHY & CO. Members New York Stock Exchange 1510 H Street New York Phil Richmond F irst 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. HIAGNER & COMPANY MORTGAGE LOAN CORRESFONDENT WASHINGTON Telephone National 9600 delphia UNLIMITED CAPITAL you could not choose better stocks or buy to better advantage for MASSACHUSETTS INVESTORS TRUST, in one single investment, gives you par- FEBRUARY 24, 1931. hMef factor 'l.ll be ter than the circles over the flrrmer carnonum reports showed little change from she trend of the last two months. a dozen railroad statements for January indicated that rriers were having difficulties of the same sort that have faced them since the end of 1929. Foreign markets were more active and stronger, in line with those in this country. There was no change in money rates. Opening Is Higher. In the most active trading since October 10, 1930, prices surged upward to new high levels for the year early tos day. les during the first half hour amounted to 900,000 shares, . against 600,000 on Saturday. Call money re- newed unchanged at 1'; per cent. Cheerful and constructive news from commodity and base metal markets, strength in London and other overseas’ markets were initial factors. After the opening the fact that cotton opened | « nearly a dollar a bale higher was also a supporting fi L United States Steel went to a new high for the year, carrying with it other steel shares, such”as Vanadium and Chicago Pneumatic Tool. In the imduscrial list gains ranged from i io 4 points, with many sales in blocks of 5000 to 15,000 xhnru New highs were made by Air Reduction, Commercial Solvents, Diamond Match, Radio, Radio-Keith, General Electric, Westinghouse, Woolworth, Industrial Alcohol, Union Carbide and Canada Dry. Mine shares were similarly strong with new tops in American Smelting and Anaconda. General American Tank featured the rail equipments with a new peak price. Business-Increase Seen. * NEW YORK, February 24 (#).—L. A. Miller, president of the Willys-Overland | Co., sald that business is definitely on the upgrade. He reported the company's sales for February will be at least 40 per cent better than January, with advance orders indicating March will show_the same percentage of increase over Feb- Tuary. Public Service Corpontwn of New Jersey Dividend No. 95 on Com- mon Stock Dividend No. 49 on 8% Cumulative Preferred Stock Dividend No. 33 on 7% Cumulative Preferred Stock Dividend No. 11 on $5.00 Cumulative Preferred Stock The Board of Directors of Publle Bervice Corporation of New Jersey has declared dividends at the rate of 8% er annum on the 8% Cumulative P: ‘erred Stoek, being $2.00 per share; at the rate of 7% per annum on the 7% Cumulative Preterred Stock, being $1.75 | Der share: at the rate of $5.00 per an num on the non par value Cumulati Preferred Stock. being $1.25 per shar and 85 cents per_share on thé non lue Common Stock for the quarter ding March 31, Al dividends e payable March 31, 1931, to stock- | holders of record at the close of busi- | ness, March 2, 1931. \ Dividends on 6% Cumulative Pre. | ferred Stock are payable on the last day of each month. . W. Van Middlesworth, Treasurer. Public Service Electric and Gas Company Dividend No. 27 on 7% Cumuhnve Preferred Stock No. 25 on' 6% Cumulnlvc Preferred Stock g The Board of Directors of Public ervice Electric and Gas Company has Geciared the seguiar quarterly aivie | dend on the 7% and 6% Preferred | Stock of that Company. Dividends are | payable March 31, 1931 to stockholders of “record at the close of business, | March 2, 1921, T. W. Van Middlesworth, Treasurer. urance Company Decatur 3600 Connecticut at K Baltimore \ FINANCIAL. Mackubin, Goodrich & Co. Established 1899 BANKERS Members New York and Baltimore Stock Exchanges eAssociate Menber New York Curb Exchange REDWOOD & SOUTH STS. RALTIMORE, MD. 1508 H STREET WASHINGTON, D. & F. B. KEECH & COMPANY Members of New York Stock Exchanse Other ®rincipal stock and_commodity exchanges, Past experience has always shown that before the end of the second year of a depression, business has re-adjusted itself sufficiently to show an upward trend. A number of low priced stoch are now sell- ing at levels that enable investors to obtain unusually high dividend yield We are equipped to handle promptly orders in stocks, bonds and commodities on the leading exchanges of the world. H CORNER 17TH ST.,N. W, WASHINGTON NATIONAL 0245 New York hie Philadelphia ovidence PROPERTY MANAGEMENT Apartment House MANAGEMENT OU wouldn’t entrust the running of a business involving thousands of dollars of invested capital to inex- perience. Instead you would. employ experience. Your apartment house in- vestments deserve the best in management for their protec- tion and your profit—and our service insures both. B. F. SAUL CO. 925 15th St. N.W. Nat’l 2100 MORTGAGE LOANS UNDERVALUED Here are compared the stock trends of the 30 In- dustrials in Dow Jones Averages and the 35 chain stores underlying Chain Store Shareowners, Inc. The difference in position indicated the amount at which these chain store stocks are undervalued. Your local investment dealer or Bank can give youfull details CHAIN STORE SHAREOWNERS I NC. MERRILL, LYNCH & CoO., 40 WALL STREET, DISTRIBUTORS NEW YORK CITY We Recommend and Offer Chain Store Shareowners, ROBERT C. JONES & CO. Shoreham Building—Met. 2922 = e : . Safe-Profitable-Convenient First Mortgage Notes secured on conservatively ap- praised properties in the District of Columbia and adjacent Mary- land suburbs. Permit us to offer our facilities for the placing of your investment funds. .. Par- ticipation in 140 outstanding stocks —diversified by companies, by in- dustries, and geographically. No matter how small your investment capital may be, you can start right with a single investment, the strength of which is maintained by sound, ex- pert management and constant su; PRICE AT MARKET ABOUT 36% TO YIELD ABOUT 7% (8% CASH—2% STOCK) tinue strong and a little more positive | in tone The New York market is still mark- ing time, though ”“}:‘”“ are good Extensive metal-working projects are reported, but they have so far meant few tool sales. New England orders are principally single tools, with a| large volume of inquiries wailing to become orders. Lathes. millers and grinders are leading at this time. Chicago reports little progress in tool sales. Railways are providing most of the current market interest there and several lists are out. Senyj- | ment in Detroif is more cheerful than in other sections, a good indication in View of the fact that other districts have been watching auto sales closely. | Cleveland’s machinery market is more active and dealers there are optimistic. Southern district bookings are slow, nt sales being only for !eplh'n dustrial activity there is unchani Milwaukee market reports indicate the recent improvement in that has not continued, but observers there 82 Comel I Tev pf (e6). 0 belleve the low point is past. Cincin- 16% Comel Soivents :u). nati has « railroad list out. Phila- 8 Cmwith & Sou an increase in orders 91% Cmwlith & Sou pf u) 6% Congoleum-Nairn. .., Int Agricul pf (7)... Int Bus Mach (n6).. Int Carriers (26c)..+ Int Cement (4). Int Combustion. Int Camb Eng pf. Int Harvester (234) . Int Harvester of (7). Int Hydro El A (e2). int Match pf (4) 94 Chi RT& Pacpf (7). 20% Chi Yellow Cab (3).. 10 254 Childs Co (2.40). 26 Chile Copper (2). 15% Chrysler Corp (1). 35% City Ice&Fuel (3.60) 711 Clty e & P ot (834) 1008 2% City Stores 24% Cluett-Pe: 32% 35 " Cluett-beabdyf (1) 408 101 10013 1424 Cotoa-Cola (f73)... 21 170 167% 5013 Coca-Cola A (3). 2 Bl b1k 47 Colgate-Pal-P (1), 1 49 49 9 Collins & Afkman... 13 14% 72 Collins & Atk pf (7). 1 21% Colo Fuel & Iron (1) 12 mo-(( *olo Fuel & Ir pt (8) 108 %' Col Gasn & BI (2). 1u Col Graphoph (a% ). 78% Columbian Carb (+6) 91% Col G & El pt B (5).. 18% Comcl Credit (2). ... 761 Comcl Cred 1st (63) 20 Comel Cred pf (1% ). 25 Comm Inv Trust (2). 274 Comel Inv Tr war. ticulars of available notes mailed on request. mRnabEanaranee 374 80l 87 Int Paper pt (7 Int Paper & Po Int Paper & Pow C. for interesting booklet g Capital” .. .no ntu.-rlan. A. S. GOULDEN & CO. Inec. Woodward Bldg., Washington, D. C. 1 Send “Compoundi Int Salt (3) Int Shoe (3 Int Silver. Int Stiver pt (7) Int Tel & Tel (2) Inter Dept Strs (2).4 Inter D 8t pf xw (7). “0n Intertype Corp (2).. 2 Investors Equity. 1 Jewel Tea (4). % Johns-Manvi Street National 8100 inqu! 29