Evening Star Newspaper, February 26, 1931, Page 15

THURSDAY ANCIAT Ll L IDEMAND FOR COPPER WILL BE INCREASED Low. Ciose. | Electrification Plans of Rlilroldli 28 28% Long Island Lt (60c) 7 33% 354 to Call for Immense Sup- 3% 354 MacMarr Stores (1). 10% plies of Metal. Previous day. Magdalena Synd. & e Week ago. ... Mavis Bottling. ... .. 1 Month ‘ago. 10% Agfa Ansco. . Coaiag 30 A 10 Mayflower Asso (). 431 43% 43% 433 | BY the Assoclated Press Year ago. .... X 0. s s v e R e e (TR Memph N G Co (60¢) 13 11%a Material aid to the copper industry| | X . " ¥ 1 s || 22 of the country is seen in requirements bebull b, Alleg Gas........ TR R TR " Mercantile Strs (1).. Aluminum Go of Am 13288167% 1725 167% 168 Mesabi Iron. . for completion of the Pennsylvania Three years ago. Rallroad’s electrification program -re- High, 193 AluCo of Am pf (8). 2 109% 109'% 109 1094 Mesta Machine (2) S % 2o cently announced by Gen. Atterbury Lew; 1931.. FEBRUARY 26, 1931 A—15 TRADING IS ACTIVE ON D. C. EXCHANGE Few Price Changes Recorded in Either Stocks or Bonds im - Today's Market. STOCK AND BOND AVERAGES By the Associated Press. Prom Yesterday's 5:30 Edition. Received by Private Wire Direct to The Star Office STOCKS. 50 Industrials. Stock and Sales— Dividend Rate. Add 00. Open. Hign. LoneStar Gasn (1). 13 28 28% Note—All stocks are s0ld in one hundred-share lots ~Prev. 1931~ excepting those designated by the letter s (80s) (2508), which shows those stocks were sold in odd lots, ~Prev. 1931~ Stock and Sales— High. Low. Dividend Rate. Add 00. Open. High. Low. Close 8% 65 Aero Underwriters.. 2 8 84 8 84 21% 11 AfMliated Prod 1.60.. 19 20 20% 19% 19% 20 Rails. 105.4 106.2 20 Utilities. N HEAVY TRADNG Power and Light Issues .Again Prove Feature of Rising Market. Today. .. ‘Trading was quite active on the | Washington Stock Exchange today. Three 10-thare and one 20-share sale 2514 in Continental Trust Company stock BY JOHN A. CRONE. @pecial Dispatch to The Star. NEW YORK, February 26.—Under the leadership of public utilities, the curb market forged ahead tcday after early dullness and irregularity. Power and light shares headed by Electric Bond & Share, Associated CAs & Electric A and certificates, Niagats Hudson shares, United Light & Power A, St. Regis Paper and similar se- curities were whirled to new heights in the forencon. Cities Service moved up fractionally. Public utilities, investment trusts and natural gas and metal stocks, along with some miscellaneous industrials such as foods, drugs and chemicals, made the best display of strength in the first half of the session. The announcement that all of the indebtedness of Associated Gas & Elec- tric and subsidiaries to Empire Power and affiliated interests had been paid was accompanied by gains of more than 2 points in issues of the former com- pany and a rise approximating 15 points in the latter's shares. The shorts again were pressed in such issues as American & Foreigif Power warrants, United Light & Power A and Electric Bond & Share, though the moves in the first several hours were not as wide as in recent sessions. Prospects of a continued curb in California oil production were mirrored in Pacific Public Service A, Pacific ‘Western Oil and other coast natural gas and oil securities. Meanwhil® Humble Oil opened off 133 and South Penn, which recently halved its divi- dend, was off fractionally. Short covering combined with in- vestment buying explained the recovery in the investment ts, whose stocks have not yet risen proportionately with the securities . contained in their port- folios. American Investors B and Goldman Sachs were the first active 1ssues in the list to record new 1931 peaks. Record-breaking tractor production by some companies stimulated a de- mand for Cleveland Tractor and Deere & Co., even though these companies made no announcement. Natural Gas concerns operating in Pennsylvania and New York were favored by traders to- day somewhat to the neglect of similar corporations operating elsewhere. This development was due to the publicity given to a huge wild gasser in Penn- sylvania and the expressed belief that parts of that State are rich in natural gas. . Shortly after mid-day there was a run-up in Commonweaith Edison, prob- ably based on the circulation of sev- .‘J analyses, which bettered most of the Insull issues. Pe; 1l Manufac~ turing improved as the Street continued to express optimistic predictons for the fenerll textile industry. Tuize eased ollowing its advance previous to the filing of a patent suit by it against In- dustrial Rayon. . NEW YORK BANK STOCKS NEW YORK, February 26 (#).—Over- the-counter market: BANKS. America : Bank of U'S Uit hase . nat P City . Fifth ~Avenue.. First National Harriman . Manbat o Peoples’ National.. TRUST COMPANIES. New York. Bankers' . Cent Hanover # Chem Bank & Trust. Corn Exchange. County Guaranty Hipernia r Manufacturers’ ‘Westchester Title & Tr. Balesin DOMESTIC BONDS. housands. (o Hi 2 Aluminum Lid 5s '48 99% 1Amer G & E 5328 9 5 Appalach Gas 6s 45 86% 5 Appalac Gas 6s B '45 71’z 3 Appalach Pow 6 101 7 As Elec Ind 4'28 '53 90 3Ass0 GAE 4'ss 49 C B 9 Asso Gas & El 85 50 18'3 13 Asso Gas & El 55 '68 11'a g 1 7078 s b 8313 5 Bell Tel Can 53 A 55 104 5Can Nat Ry 4%s 55 083, 1 Carolina P & L 5 '86 1023, 10 Caterpiliar Tr 85 '35 100% 1 Cent State Ei 4 Cent St Elec 6! 148 Cittes Service 85 ‘50 79% 1 Cities Berviec 55 '66. 75 2 Cit Serv Pow 5ias 3 12 Cleve Ter_Blde &s 52 Comwin Ed 45 € ' # Consum Pow 4!as i Gudany Pry Side € East Utilit Iny 58 Bos Ed E Fa Florids PAL 58 '84.. Gatineau Pow 55 '56. Gen Bronze 6s 40 11 Glidden Co 523 ‘33 Grand_Trunk 6'2s '36 107% Gulf Oil Pa 55 '37..102% Hood Rubber 7s '36.. 8% son B M4S 65735 857 gansett 55 '57.. P&L 55 B 2030 PS5 78 . @YV VY. TVI0Z LELELS oseE [OROTRRTRFRRTN. NI DT IO P ISTETO an Sweringen 65 ash W Pow Wes Tex UL 55 A ° FOREIGN BONDS. 1 Baden Con Mn 7s '51 83 80 Gan_ Dominion 4x 4 Cent Bk Co 65 B 32 Gom Pr 3 Danish Con k 1Danzig Port 6'4s ° 3 Eur Bl Cp 645 /65 1Finid Ind Bk Pinid R M Bk és er Cons Mun 65 Con Mun T8 tueral 65 ‘33 o Hyd EI 8 Bu Pw A arans Brazil 75 e £ FEIINFE e 242l 79% Citles 9 7 1 5 17 221 1 8 1 21 82 14 10 2 63, 39 40 18! 5 14% 21 3 % ki Am Arch Co (3) 1 Am Austin Car. 20 Am Capital B e | AmCit PAL B b10%. 20 Am Com P A (b10%) 48 Am Com PrB(bi0%) 9 Am Cyanamid B,... 59 Am Dept Stores..... 2 Am Equities. 23 Am For Pow w L8l Am Founders. ...... 20 Am @as & RI 0 (31).. 169 AmGas&EIpt (6).. 4 Am Hard Rub (4)...100s Am Hardware (4)... 208 Am Inv Inc B (60¢).. 61 Am Invest war Wl Am Laundry 3). Am Lt & Trac (2%). Am Maize Prod (2).. Am Maracabo. . Am Natural Gas. . Am Superpow (40¢). Am Superp 1st (6).. Am Thread pf (25¢). Am Util&Gen (B)vtc Am Yvette new wi.. Anchor P F (b10%). Anglo Chil Nitrate Appalachian Gas. .. Arkans Nat Gas A. Art Metal Wks (60c) Assoc El In Ltd 30c. Asso Gas & Electric. 4 Asso Gas&El A (a2). AssocG&EAdbrts Assoc G & El war. .. Ass0G & Elct (8)... Assoc G & E purrts. Assoc G & Eall ctfs. Assoc Laundries. ... Assoc Rayon. . Assoc Rayon pf (6). Atl Coast Fish. Atl Secur Corp. . Atlas Util Corp . Atlas Utilities war. . Aviation Cp of Am.. Bahia Corp. . Bickford's Inc (1.20) olue Ridge Corp. . ... Blue Ridge cv pfai.. Scrymser Co. . Bourjois Inc. ... Braz Tr & Lt (b8%). Brill Corp A (34¢)... Brill CorpB. ..... Br Celanese rets. . Cable & Wire A rets. Cable & Wire B ret Canada Mareon!. Carib Syndicate. .. .. Carnation Co (§1%). Celanese 18t pf (7). Cent Hud G&E (80c). Cent Pub SveA b10% Cent Stat El (b10%). Chain Stores Stock Chat Ph Aln.v. (1).. Cities Service (830c) TV e (6). .. 15 Claude Neon Lts, Inc % Clev Tractor (80c) 14 Colon Oil. ..... . # Colombia Syndicate. Col Oil & Gas vte. ... % Col Pict vte (£1%) Cmwith Edison (8). 4405 % Cmwith & Sou war.. 135 Com Wat Sv (b8%). 26 4% Comstock Tunnel... & Consol Auto M cu pf. 1 15 Consol Copper 10 Consol Gas Bal . 26 3% Consol Gas UtA 2.20 1 Consol Laund (1) 3 Consol Royal (308y.. 8 Contl Chicago Corp.. & Cont Shares pf (B).. 268 Cont Shares conv pf. 8758 % Cooper Bessemer (2) 27 % Cord COrp.......... 197 Corp Sec Ch (b6%).. 3 1y Cosden Ofl.......... 2 ' Creole Petroleum 25 Cresson Consol (4c). % Crocker Wheeler. . Crown Cent Pétrol. Cuban Cane pr opt Curtiss Wright war. Cusl Mex Mining Darby Petroleum Dayton Air & Eng. Deere & Co (1.20) De Forest Radio. Derby Oil Refining. Detroit Afrcraft Cp. Douglas Air (11%).. DressSRA (3%). Dresser Mfg B (2). Driver Harris new. Duke Pow (5). . Duquesne Gas Cp wi. Durant Motors. ..... Duval Tex Sul wi East G & F Assoc East St Pow B (1). Kast Util Inv A er Electric Ci S SeSRen-REmem oanb B Nanmand Elec B & Sh pf (6).. Klec B& Shcupfh.. Flec Pow Assoc (1). Elec Pow Asso A (1) Elec P & Lt op war. . ¥l Sharehold (b6%). Emp Pwr pt (4.60) 4 Empire Pub Sve (A). 1 Emp Steel Corp. 17 Emp Reinsur (11.60) 3 iturop Elec debrts.. 1 Evans Wallow Lead. 78 Fairchild Aviation Fajardo Sugar. Falcon Lead Fandango Corp. Fansteel Products. .. Fiat Stock deb rts. Foltis Fischer Corp. Food Machinery 17;. Ford M Can A (1.20) Ford Mo of Fr(p28c) Ford M Ltd (p37%). Foremost Dairy Pr.. Foundation For Shs. Fox Theater Cl A Gen Alloys (80¢) % Gen Aviation.. : Gen Baking. n Baking wi.. lak pf c.0.d. (3). sen Elec Ltd (p70¢). 10 n G&E cv pt B (6) 3508 Gen Laundry Mach. . : Gen Thea Ep cv pf 3) Georgia Pow pt (6).. errard (SA) Co. reaner C Harv n Glen Alden Coal (8 Globe Underwriter: Gold Coin new. ... Gold Seal Elec new. . Golden Center. ... Goldman Sach T 55 Gorham M vte (£2). Gt At&Pac Tea nv(6) 10; GrtA &P T pf (1).. b0 Guard Fire Asso (2). 2 Guardian Invest, GuifOllof Pa (1%). 2: Happiness Candy Hecla Mining (40c).. Helena Rubenstein. . Hollinger Gold(66¢). 1 Hudson Bay M&S .. Humble O11 (12% ) Hydro Elec Sec (2).. Hygrade Food Prod. Imp Ofl of Can (50¢c) Ind P&L cu pf (6%).1008 Ind Ter Illu O1 B. 1 Industrial Finan ctts Insull Inv (b6%).... 18 Ins Co ofNo Am 12% . 1 Insurancde Sec (70c). Intercoast Trade (1) intercontinent Pet n. Int Hydrocv pf3%. Int Petroleum (1). Int Superp (11.10)... Int Utilities A (3%). Int Utilitles B...... Int Utilities war. Interstate Equities. . Inter Equ conv pf(3) Iron Cap Copper..... Itallan Superpow A.. Kolster-Br (Am 8h). 264 1 [l 9% 15% 8 1% 11 6a 28 4% 821 107 b2 49 TV 2% 29 49% 25% i 5 9% 164 287 124 1% T4 30 5 8% 107 B2 49 Met & Min Ino (1 i Met Chain Stores 3 213 Mid St Pet vic A. 7 Mid St Pet vto B. . 160 Mid W St Ut (1%) 2874 Mid West Ut (b8%). 2! 12 Mid W Util B wi. . 14 Midland NG A 120.. 1 Mid Roy ev pf (2)... Mid St Prod n (2). Mining Corp of Can. Mo Kan P L (b10%). ¥ Mo Kan P L vte *. Moh H P 1st pt (7).. 758 Mont Lt H& T (1%) 5005 t American Co Aviation. . Nat Bond & Sh (75¢) Nat Family Stores. .. Nat Fuel Gas (1) Nat Investors . Nat Pow & Lt pf (6). Nat Rubber Mach. .. Nat S T Sec A (150c) Nat Sugar NJ (2). Nat Transit (1). ’nion Radio 8 3 5 1 n 1 3 P 0) 15 ot 1 1 4 5 1 1 3 9 4 Nehi Corp pf (5% Neisner Bros pf ( Nestle Le Mur Newmont Min (4)... NY Steamn (2.60).. N Y Transit (1)..... Niag-Hud Pow (40c) 18 Niag-Hud Pow A w.. Niag-Hud Pow B w.. Niag Sh Md (40c) . les-Bem-Pond (2). Noma El Corp (80c). Noranda Mines. . Nor Am Aviat A war Nor Am Util Sec. . Nor Wevpf (3)..... Nor Europ Gil Corp. 1L Nor Ind Pub S pf (6) 50s Nor St Pow pt (6)... 10s Nor St Pow A (8) Novadel-Ang (14%). Ohlo Copper Okla Gas & El pt (7 Outboard Motor B. Overseas PacG&EPI13T%.. 1 Pac PubSve A(1.30). 38 Pac Western Oil.. 6 Pandem Oil. . 3 Pantepec Oil. oo 38 Paramount Cab Mfg. Pennroad Corp (20¢) Penn Mex Fuel (p3). Penn Wat & Pow (3) Peop L & P A (2.40). Pepperell Mfg (8)... Perryman Electric 4 Petrol Corp war. Phil Co new (11.13).. Philip Morris Inc. .. Phoenix Secur Corp. Phoenix Secur pf (3) Pie Bak of AM A (2). 4 Pilot Rad Tube A, Plymouth Oil (2) Polymet Mfg. . Producers Roy Corp. Prudential Invest. .. PS, N 111(3) $100 par 258 Pub Util Hold Cp ww 35 Pub Util Hold war.. 68 Pub Util Hold Cp xw Pyrene Mg (80¢). .. Railroad Sh (50¢). .. Itainbow Lum PraA.. Rainbow Lum PrB. . Rayethon Mfg. Reiter-Foster Reliance Int A Reliance Int Cor B Reliance Manag. 4 Reybarn Co. Richfield Oil Cal pf. 4 Rich Rad cum pf. ... Rike Kumbler (2.20) Roan Antelope Min. . Rock Lt & P (90¢) . Rossia Int Corp Rubberoid Co (4) St Anthony Gold . St Regls Paper (1) Salt Creek Prod (2).. SaxetCo........ Seaboard Util (50c).. Secu Corp Gen (40c). Seg Lock & H (50c) . Selberling Rubber. Selected Industries.. 26 Select Ind (full pd).. 1 SelInd (full p stpd). 4 Selected Indus prpf. 3 9 8 Sentry Safety Cont. Shattuck Den Min. .. 4 Shenandoah Corp 33 Shen Corp pf (a3). 13 Silica Gel ctfs 1 Smith (A 0) (2). 308 S0 Am Air Lines 1st. 23 South Penn Oil (1) SouthCEdpf C1%.. 4 Southld Royalty 60c. 8 SW Bell Tel pf (7).. 1008 SW Dairy pf ww.... 408 8 W Gas Utilities 5 Spanish & Genrets.. 1 Spleg May Stern pf.. 25s Stand Motor: o 8 Stand Ofl of 2).. 7 Stand Oil Ky (1%) 6 Stand O1], Ohio (233) 50s Stand Oil, Ohio (5).. 20s Stand P& L (B) (2). 4 Stand Screw (8)..... Starrett Corp. . Starrett Corp pf (3). 4 Stein (A) & Co(160). Stein Cosmetics. S (Nathan). Roth strombers Stutz Motor (new). . Sullivan Machinery . Sun Inv. y Sun Invest p! 4 Sunray Ofl (b5%). Swift & Co (2).... Swift Internat (3)... Tampa Electric (12). Taylor Milling (233). Technicolor, Inc. ... Teck Hughes (60c) .. Texon Oil&Land (1)s Thatcher Sec Corp. .. 4 Tob Prod Exp (10¢).. Tran Con Air Tran. ., Trans Lux DL P S Tri Utilities (11.20). 2 Tubize Cantillon (B) 114 TwinStNGDL(A).. 4 Ungerieider Fin Cp. . Unit Corp war. .. 4 Unit El Sve pf war Unit Founders. Unit Gas Corp. Unit Gas war. Unit Lt &Pwr Unit Lt& Pwr pf (6). Unit Ry & El, Balto. U S Datry (B)...... U 8 Elec Power ww.. bl U 8 Elec PWr war.... 6 U S Finishing pf.... 50s % U S Foil (B) (50¢)... 2 U S Inter Sec 1st pf.. 16 U 8 Play Cards (4)..126s Unit Verde Ext (2) 8 % Utah Apex...... . 2 Util PRLt(at1.02%). 40 Ut P&L Bratl.02%). 12 Util & Ind.......... 21 Util & Ind pf (13%) 4 Utility Equittes. 26 Util Equity ot (5%). Vacuum (4).. . Van Camp Pkg. Van Camp Pkg pf. .., Vic Finan Corp(40c) Walgreen Co. Walker (H) (1) ‘Wenden Copper W Va Coal & Col West Air Exp (60c).. West AutoS A (3)... West Mass Co(2%).. Willlams R C (1.40) .. Wil-Low Cafateria: Wilson Jones (1%) “Y" Ol1 & Ga: Zonite Products (1).. RIGHTS. Expire, 1% SouCal Ed...Apr20 58 6% 7 25 ) % 1% 20 22 62 13% 4 20% K 1% 1% 2% 2% 8% & 1% 18% 22 62 13% 314 20% % 1% 24 An estimate by the Copper and Brass Research Association places the need for this project at 60.000.000 pounds. | Of this amount about 10,000,000 pounds | would be used for the railroad’s 132 | KV single phase transmission system, | 12,500,000 pounds for transformers and other conversion equipment, 24,500,000 | pounds in the distribution and contact | system and 23,000,000 pounds for the| | elecprical equipment of cars and loco- | motives. The distribution and contact | system, the familiar catenary suspen- | sion of the overhead contact system is | coupper throughout. | The work is to be completed in the (next two and a half years in accord- | ance with present plans, and includes | the changing of the New York terminal electrification from New York to Man- | hattan Transfer from direct current to alternating current, the extension of the alternating current zone, first to New | Brunswick and_then to Trenton, from | which point to Wilmington the electrifi- cation is already in service, then the | main line through Baltimore to Wash- | ington and Potomac Yard, and other | portions of the lines in the East so that ultimately all passenger service east of Atglen, near Parkersburg on the| Philadelphia division, and freight serv- | Pa. will be handled electrically. | When the program is completed the carrier wi'l have in service 800 miles of | electrified route and about 2,750 miles of electrified track, the largest of all American roads. 1t will be exceeded | only by the Swiss Federal Rallroads, | where the program of complete electri- | fication of the entire system is rapidly | being completed. The entire Pennsyl- | vania electrification, when completed, will include more than 85,000.000 | pounds of copper. GRAIN MARKET | CHICAGO, February 26 () —Influ- | enced by forecasts of rain or snow in | parts of the Spring wheat belt, grains | averaged lower early today. There were also reports that Australia was dumping Wwheat ‘on European markets at lower | ces. Opening at 14 off to % up, wheat :nnnrwlrd sagged further. Corn started unchanged to % higher and subse- | quently declined. i Increased pressure of wheat in Europe was ascribed largely to Australian government promises of a bonus on exports. European importers were | also anticipating liberal arrivals here- alter from Argentina and Australia, notwithstanding that Argentine grow. ers appeared to be unwilling sellers. Advices indicated better weather in France, with rural offerings augmented. American Government-gponsored agen- cies were again reported offering ex- port wheat. Assertions that all calculations in re- gard to feed requirements have been swept into the discard by the mild weather tended to weaken corn. Somé Iilinois points reported that despite a crop not more than 60 per cent of average, shipments of 21 T cent more corn had been handled than a year ago. Illinois corn supplies on farms were estimated as equaling sthe | volume at May 15 in an average sea- son. Oats followed wheat and corn. Provisions reflected upturns in hog values, Telephone Service Planned. By the Associated Press. A telephone service between the United States and St. John's, New- foundland, may possibly be established toward the end of 1931. It has been reportea to the Depart- ment of Commerce that the Avalon Telephone Co. of St. John's, which oper- ates the sole telephone service in New- foundland, may join with the American concern in initiating such an interna- tional communication system. PRO'PERTY Apartment House ho rant management. High, 1930 Low, 1930. . Industrials. 9.5 Previous day Week ago. Month ago. Year ago..... Two years a Three year: High, 1931. Low, 1931.. High, 1930 Low, 1930, DECLINE IN FREIGHT CAUSES RATE CUTS ice east of Marietta, near Columbia,|Idle Tonnage Also Results From Gains, However, Slump in Overseas Shipments, Says Survey. By the Associated Press. The worldwide decline in overseas trade has brought about a great re- cession in freight rates and an increase in idle tonnage. Full cargo rates, which are represent- ative in large measure of the market in general, were consistently lower during the last year than in any other post- war year. In a compilation by the De- partment of Commerce, the rates for six representative commodities over 12 leading world trade routes, stood at index number 85 for the last quarter | of 1930, the index representing average rates for 1911-1913 as 100. In the corre- sponding quarter of 1929 it was 94. In the principal maritime countries, taken as a whole, there were about 8,276,000 gross tons of shipping laid up on January 1, an increase of 5,058,000 tons, or 150 per cent over the year. Great Britain, fared the worst with ap- proximately 1,445,000 tons, or 300 per cent more, while the United States was affected to the extent of about half a million tons increase, traceable entirely to privately owned shipping. Another noteworthy feature is that German_shipping to the amount of nearly 500,000 tons was laid up, as com- pared with practically none a year ago. The total idle tonnage in this coun- try on January 1, last, was 2,574,000 tons, of which 1,452,000 tons was Ship- ping Board vessels, with 1,105,000 in privately owned bottoms. NEW YORK COTTON NEW YORK, February 26 (Special). —Cotton prices were 3 to 4 points lower at the opening today. Selling was moderately heavy in all positions, most of it being attributed to profit taking by local professionals. Trade buyers were buying on the scale down. Opening prices were: March 11.15, off 4; May 11.37, off 4; July 1161, off 4; October 11.89, off 4; December 12.09, off 4, and January 12.19, off 3. TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) Rate—Msturity. June 13, 1031, 15, 193: 3i2s Sept. 15, 1932 3i2s Dec. 15, 1933, MANAGEMENT MANAGEMENT STOP and consider if the amount of money you have invested in apartment use property doesn’t war- the most experienced We can give you many examples of the value of our Utilities, 1002 100.1 100.1 WEEKLY PRICE INDEX IN SLIGHT DECLINE| i st B Are Shown by Textiles, Metals, Drugs, Fats and Oils. | The weekly wholesale price index of | the Natlonal Fertilizer Association de | clined 4 fractional points for the week | ended February 21. The index number | now stands at 76.0, compared with 77.7 a month ago and 923 for the corre- | sponding week a year ago. | "Of the 14 g1oups comprising the in- dex, 4 advanced, 8 declined and 2 showed no change during the last week. | Textiles, metals, chemicals and drugs and fats and oils advanced. Grains, |Teeds, live stock, other foods, agricul- tural implements, automobiles, fuels, house furnishings, fertilizer materials | and miscellaneous commodities declined, | _The prices for 17 commodities ad | vanced, while the prices for 30 com- modities declined. Advances were made in the prices for cotton, cotton yarns, | burlap, " silk, butter, potatoes, sheep, Lower ' prices were noted for cheese, milk, bread, practically all grains, pig fron, gasoline, starch, rubber, Hides | shoes. coffee, cotton underwear, hemp, | cottonseed meal and nitrate of soda. | U.S. TREASURY BALANCE. ‘The United States Treasury balance | announced today as of close of business | February 24 was $156,338,451.98. Cus- toms receipts for the month to date were $22,735,830.91. Total ordinary ex- penditures, $8,640,640.13. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks today London, pound 3485 2532 Faris, - franc 39170 Brussels, ' beiga e | Beriin, “mark 2376150 Rome.' lira. 523 17-32¢ Zurich, frané.: 1627 | Athens, drachma. .l - Madrid, peseta | Vienna, schiiling Budapést pengo | Prague, crown (nom’) Warsaw,* 2loty. copper, silver, caustic soda and leather. | were recorded at 118. One other bank stock ap) board, 10 shares of Unlon ing at 210. Capital Traction opened With a 10- share sale at 36'p and closed With another similar sale at 36, Lenston sold at 103, Potomac Electric Power 51, per cent preferred registered 108, and the 6 per cent preferred 110. Federal-Ameriean Co. common moved at 26'; and Railway & Electric pre- ferred at 98. Washington Gas and Capital Trar- red on the st Co. sell- | tion bonds changed hands at reccnt prices. MONEY MARKET. NEW YORK, February 26 (#).—Call money renewed at 1'; per cent today and held steady in the official market. Shortly after the opening of the mar- ket, some funds were offered in the outside market at 1 per cent, but later .‘thsse offerings firmed to 1' per cent. The time money market was dull and unchanged. Bankers' acceptances were fairly active, with hoth supply and di mand holding up well, and asking rates were steady and unchanged. Com- mercial paper also was unchanged. INVESTMENT TRUSTS NEW YORK. February 26 (P) Over-the-counter market: | Al Am Investors Shrs A | Am ‘Compoxite Tr Shrs + m Founders 7c pi.: Atl & Pac Int units Atl & Pac conv Basic Industry’ Shar : |Ghaln € Gen TBauic $huri 5f. ! ain Store Share Owners loc. | Sumuiative re 8 ¥ e | Diversined Trustee ‘Shares A’ | Biversifed Trustee 8 | Biversified Trustes 81 | Pixed Trust Shares A | Fixed Trust Snares B | FundamentalTr Sharss A Fundamental Tr Shares B | Incorporated Investors | Independence Tr Shrs " | Tavest Tr of N ¥ Colint A | Jackson & Curtis Se Low Priced Shrs. | Mator Gorp Shrs: Monawk Invest . AMutual Tovect Trust A: Natl Trust Shrs N'Y Bank Tr Shs Old Colony Invest Trusi | 0ld Colany Trust Assoc..: | Power” & Rail Trustee Shi Public Service Tr Sh Representative Tr Shrs. .. Spencer Trask Fund : | Stand Collat ‘Trusteed’ Shares. . | State Sireet Invest Gorp.. Suber Corp of Am Tt BArs A. . Suber Corp of Am Tr 8hrs B Trist Shrs of Amer.: e Trustee Stand ONl Shrs A Trustee Stand Oll Shrs B Trusieed Al BE ust 8h Tentictn Genturs Fixed Tr s Wentieth Century Fix United Fixed. ShTS.. ; United Ins TW United Bank Truse: 11l U'S Elec Lt & Pow Siirs A" Others unchanged Inv Assoe Norwegian fishermen are considering shipping frozen fish to this country. Welcome Bankers 72w Year 0L/ Copenhagen, crown.. Oslo, crown... ...... Stockholm, crown A R BASEMENT GA- AGE for 100 CARS specialized service. B. F. SAUL CO. 925 15th St. N.W. Nat’l 2100 MORTGAGE LOANS fissflbm of NORTH AMERICAN TRUST SHARES ORTH American Trust Shares are distributed in Maryland, District of Co- limbia, Virginia, and Kent and Sussex Counties, Dela- ware, by W; W: Lanahan & Company: 1 : Inquiries are invited from Banks, In- stitutions, Dealers, Trustees and Individual Investors: Complete information wbon request W.W.LANAHAN & CO.” BANKERS Members New York & Baltimore Stock Exchange Associate Member Now York Cirb Exchangs K Street at Fifteenth Six high-speed elevators « « . large, light rooms and suites— » Surprisingl_); low rentals H. L. Rust Company Agent 1001 Fifteenth Street NAtional 8100 You buy in Chain Stores INVEST IN THEM! More people patronize the chain stores every day. Their business has doubled.in the last ten years — and another the nation’s retailing. MERRILL, LYNCH 49 WALL STREE WASHINGTON OFFICE: HILL BUILDING EDWIN D; ELATHER, Residens Manager doubling is expected by 1940. Yet, today they are only doing 16% of As in the past, the chains’ business will continue to grow because their fundamental principles are sound. Learn about this attractive investment — based on the leaders of the chain store industry. Your local investment dealer or bank can give you full details CHAIN STORE SHAREOWNERS NC. & CO., DISTRIBUTORS T, NEW YORK CITY uarterly or semi- 28axon Pub Wk 55 |32 in stock. a Pavable Lackawanna Sec (4). i 6%as A ‘53 Leh Coal & Nav 1.20. Dividends rates in dollars on last PoITE Bl 'm:bgin.“z 4 per i 1 i 1 . lus Leonard Of1 in tock. o S0k, e Adjustipekt divident; Lily Tulip Cup (1%) & Plus 6 per cent h Plus 1 : 57 e R Lord o ww—With war; ts. 4 9% Loew's Inc deb rt; e o lus’§ per ‘stock, 1% ' pPaid last year—no regular rate, i Iw Without warraats. ew. Vi-When lssued. ® Members of Distribiutors Goup, Ine. % Loew's Inc war,