Evening Star Newspaper, March 9, 1931, Page 13

FINANCIAL BRAHANY T0 DIRECT PIERCE CO. OFFICE Crane & Parris Will Become Correspondent of Broker Firm. BY EDWARD C. STONE. Announcement was made today that | ‘Thomas W. Brahany will retire from the firm of Crane, Parris & Co., to take over the management of the Washing- | ton office of E. A. | Plerce & Co., New | York Stock Ex- | change firm, and { that Crane, Parris & Co. will become a correspondent of E. A. Plerce & Co,, with direct com- munication with ir ew York 3 changes Wflnflw at the cl of busi- ness today. Crane, Parris & ., organized in Co. 1883, is the oldest investment bank- ith fices in its own building at 821 Fif- teenth street northwest. The firm will now consist of Eugene E. Thompson, B. Harper and Willlam Knowles Cooper. Mr. Thompson has been identi- fied with the firm about 30 years, Mr. Harper for 12 years and Mr. Cooper since his retirement in 1929 as general secretary of the Y. M. C. A. of this city. Mr. Thompson is president of the As- sociated Stock Exchanges, former vice president and member of the board of governors of the Investment Bankers’ tion, former president of the Wi Stock Exchange and for the last four years has served as chair- man of its board of governors. ¢ E. A. Plerce & Co. was organized in 1885 and has membership in the New | 100% Cotton, Coffee, Produce | 136% 120 Am Sm & Ref pf (7). York Stock, and Curb Exs ‘¥‘ha - ' . company’s fice is located in Building, Seventeenth and H streets. Joseph H. Himes, who has large finan- clal and property interests in the Cap- ital and who has lived here since his retirement from Congress, is a resident P Brahany is well known in fin 3 well known an- , having been and the Chica It has offices irf 25 ‘Washington of- A former newspaper corre- spondent and Senate secretary, he was secretary of the Tariff Board and as- sistant secretary at the White House in the Taft and Wilson administrations. Mr. Brahany accom President ‘Wilson on his tour of the country at the close of the World War. He is a member of many ns, in- cluding the Gridiron Club, Columbia Country Club, National Press Club Blue Ridge Rod and Gun Club, Alfalfa Club and the Milwaukee Press Club. Offers Banking Solution. sg]luhm orl‘ the mmug M\mnlhu‘pe lem by the m%uun a spe- fi carp::luon, whose stock would be entirely owned existing banks, to carry on branch , is suggested by Elmer H. Youngman, editor of the Blll;rxen‘ 3 proper managemen safety and some of the facilities usually ascribed to metropolitan banking.” The chief question in considering such a company, according to Mr. Youngman, is whether or not a suffi- clent profit could be made to justify it. Tax Experts in Local Banks. to special the District Bankers’ Association. ’rnnt‘y-eluht men were assigned to the local hnnhnyen:l:d&!:nme number was expected ag: year. The bureau, however, announced that pressure of work, no tax be sent out this year, that patrons of the banks would be given advice at the Internal Revenue main office. As the banks are swamped with re- ests for income tax help and had no e the places asked ruling was have been sent around the city to the | larger banks, | Today's Trading on Exchange. Trading on the Washington Stock today was as quiet as mid- Summer. The only stock appearing on the board was Washington Railway & Electric preferred, three 10-share lots | changing hands at 98'; and nine more | at 9815, ‘The first bond sale was in Capital Traction 5s, $2,000 selling at 81%, prac- tically the same as the last sale. A $500 Washington Gas Light 6, series A, sold at 102%. H The bond market closed with two | $1,000 Potomac Electric Power Consoli- dated 5s selling at 1023;. Heard in Financial District. As noted elsewhere in today’s Star, it | is announced that the Washington & Suburban Co., which is the successor of the Seaboard Investment Co., plans to put out a $6,500,000 bond issue, backed up by the stock of the Washington Gas Light Co., the Alexandria Gas Co. and other companies in the suburban area. ‘The General Baking Co. has declared the regular quarterly dividend of $2 a share on the preferred stock, payable April 1 to stock of record March 21. Renorts of 1,155 factories show that in- January, 1931, production of boots and shoes totaled 10 420,097 pairs, compared with 17,537 481 pairs in De- cember, an increase of 10.8 per cent, according to the Commerce Department. January production was 26.8 per cent less than that for the corresponding month a year ago. TRADING CONCENTRATED IN MARKET FAVORITES Special Dispatch to The Sta; NEW YORK, March 9—Between 40 snd 45 per cent of last week's stock market transactions were r nted in Nearly 15 per cent more the Transportation | 113 « NEW YORK STOCK Received by Private Wire Direct o The Sfar hundred-share letter s (80s) (2508), Note—AD stocks are sold n excepting those designated by the ‘which n:mu those stocks were Individual sales compiled to noon—complete in 5:30 Edition. s ~Prev. 1931~ High. Low. Stocx ana Dividend Rate. A 14% © Abitibl Pow & Paper 52 39 Abitibl P& P pf (6). 23% 11% Advance Rum! % Ahumada Lead 92% Alr Reduction-( 10% 7% Atrway El Ap (80c). 9% 7 Alaska Juneau (40c) 8% 6% Albany Wrap Paper. 12% 7% Alleg Corp. 182% 1531 Allfed Ch & n 124% 122 Allied Ch & D of (7). 42% 32% Allis Chalmers (3) 1 Amal Leather 164% Amal Leather 17% Amerada Corp (2 20 Am Agri Ch of Del 54% Am Bank Note (+3) 82 Am Br Shoe (240)... 8% Am Brown Bov Elec. 45% AmBrBEDf (T)... 1064 Am Can (t5)... 27 AmCar &Fary (3).. 74% Am Car & Fdy pf (7 29% Am Chain (8)....... 884 Am Chicle (43) . 14% Am Colortype (1.40). 9 Am Comel Alcohol. . 19 Am European Secur. 26% Am & For Power. ... 67% Am & For Pow 2d pf. 7 Am Hawailan88.... 10% Am Hide & Leath pf. 47% Am Home Pr (4.20).. 28% Am Ice (3). . 74 Am Ice pf (6) 18% Am Internat (2).... S Am La Fr & Foamite 20% Am Locomotive (2). 21 Am Mch & Fdy 1.40. 16% Am Metal Co... . 2214 Am Nat Gaspf (T).. 45 Am Pow & Lt (21).. 947 Am Pow & Lt pf (6). TR AmP&LtPFA (4).. 80 Am P &L pf A st (5) 15'% Am Rad & St San (1) 7 Am Republies ... 264 Am Rolling Mills. .. 67 Am Safety Ragzor (5) % Am Ship & Com..... 40% Am Sm & Ref (4).... 98% Am Sm & R 24 pf (6) 63 129% 8% 1 584 42 37 AmSnuff (t3%).... 4% 2% Am Solv & Chem. 81% 25 Am Steel Fdy (3)... 110 Am Steel Fdy pf (7). 87 Am Stores (12%)... 42% Am Sugar Ref (5)... 96 Am Sugar Ref pf (7) R Am Sumatra Tob. ... 15% Am Tel & Cable (5). 176% Am Tel & Tel (9). 104 Am Tobacco (16 47% 23% 53% Am Water Wks (3).. 54% Am Wat Wkscfs (3) 5 101% Am Wat W 1st pf (6) 6% Am Woolen. 2 Am Writ Paper ctfs. 41 Am Zinc Lead & Sm. 20% Anaconda Cop (2%). 22 Anaconda W&C (1) 27 Anchor Cap (2.40) 18% Andes Copper (1). 15% Archer-Dan-M (2) 2% Armourof Il A, 2 Armourof I B. 5 Armour of I11 pf. 3% Arnold Constabl 23% Asso Appl Ind (4 22 AssoDry G (2%). 17814 Atch To & 8 Fe (10). 105 Atl Coast Line (+10) 18 Atlantic Refining (1) 1 97 Atlas Powder pf (8) 101’4 Auburn Auto (14 *1 Autosales. 3 Aviation Cor Baldwin Loco (1%). 29 Baldwin Loco pf (7). 10s 101 101 979 MM TT% TT% Balto & Ohfo (7).... Bang & Aroos (334) .. Bang & Aroos pt (7) 1 Barker Bros .8 Barnsdall (A) (1)... Bayuk Cig 18t pf (7) Bendix Aviation (1). Best & Co (2). Bethlehem Steel (6). Bethlehem St pf (7). Blaw-Knox (1%). Bohn Alum & Br 1% Bon Ami (A) (4) Borden Co (k3). W 1y Bkiyn & Qu T of (5). Bklyn Union Gas (§) Bueyrus (1)%... Bueyrus pf (7). Budd Wheel (1) Bullard Bulova Burroug! . Bush Terminal (23) :lltn Copyer & Zinc. Canad Can Pacific (3%). Cannon Mills (1.60 Capital Admin A Case (J 1) (6). 26% Caterpillar Tra 214 Cavanaugh-Dobbs. 11 Celan Corp. 2214 Celotex Co p! 20 Cent Aguirre 2'4 Century Rib Mills. 224 Cer de Pas Cop (2) b (1.80 64 Chi Great Western., 5% Chi Mil St P & Pac. . 94 Chi M1l St P& P pf.. 33 Chi & Northwest (4). 9% Chi Pneu Tool 28% Chi Pneu Tool pf.... 47% Chi R I & Pacific (5). 84 ChiRI&PpDL(6)... 94 ChiRI& Pacpf (7). 25'% Childs Co (2.40) 26 Chile Copper (2) 15% Chrysler Corp (1)... 35% City Ice&Fuel (3.60) T34 City Ice & F pf (6% ) 330; 2% City Store: E 18 Clark Equipment (2) 77 Clev & Pitts (3%).. 47 Colgat -P(2%). 102, Colg-Palm P pf (8). 9 Collins & Alkman. .. 21% Colo Fuel & Iron (1) 33% Col Gas & EI (2). 100% Col Gas & E1 pf A ¢ 7% Col Graphoph (a% ) 78% Columbian Carb (16) 184 Comecl Credit (2). Comcl Credit A (3). 256 Comim Inv Trust (2). 82 Comcl I T ev pf (e6). 15% Comm Solvents (1).. 25% Consol Cigal 9% Consol Film (2).. 15% Consol Film pf (2). 82'4 Consol Gas N ¥ (4) 14 Consol Textil 64 Container Cor) 2% Cont B 17% Cont) Bakin, 67% Contl Baking pf 47 Contl Can (2%) 101 Contl Dia Fibre 27.Contl Motor: 9% Cont] Ol of 814 Cont Shares 764 Corn Prod ( 8% Coty Inc Crea 31 27 m 38% 81 CrCork & Seal 2.4 106 103 Crucible Steel pf (7) 36 22! Cuban Am Sugar pf. 1i4 Cuba Cane Prod. .... 41 Cudahy Packing (4). 89% Curtis Publish (17). 2% Curtiss Wright Corp 8% Curtiss Wr Corp A. 96 Cushmans pf (8 . 2 226 1 ) 36 sold in odd lots. Prev Close. Close. 12 45 21% 3% 16 % % %% 102 100% 101 100% 9 8% 9 9 U 8% LY 10% 10 161% 157 128% 123% 128% 12 3 7% . -4 5 [E1=1-JOIPEROIPS - ST~ 10 51 1% % 6% 10% 160 1% 9 6% 10% 161% 4 % 1 52% 100% 100% 100% 100% 186% 136% 136} 136% 2 1 s a2 2 3 4 4 1 28 28 308 112% 111% 3 48 48 1 52 108 9% 18% 42 4 28 112% 48 52 108 94 18% 4% 4 27% 112% 9 196% 197% 197% 118% 117 119% 117% 117 119 118% 119 128% 128% 1284 1284 97% 97y 97% 97N 110 110 110 110 4% T2% Td% T34 784 75 3% 105% 105% 105% 106% 11 9% 1 9% 36% 30% 36 30% 2 2% % 7 40% 39% 40% 40% 26 26 21 31 17% 17% 2% 7 26 31 17% 8% % 26% 30% 17% 16% 16% 164 16 3 3 m 3 2 2 2 2 28% 27% 28% 274 6% 6% 24% 24 26% 195% 192 111 109 20% 19% 8% 24 192 109 19% 6% 26% 26% 27 196 109 20% 98% 98% 98% 9T 19% 183% 193 182 2 2 2 2 6 5% 26% 24% 254 254 99 2 59 584 208 113% 118 200 T T% 108 64% 63% 122% 122% 27T% 26% 27w 27% 3¢ 1% 33% 304 62% 62% 623, 62% 3% 73 29% 28% 29% 28% 21% 20% 21% 20% 28 23 4% 4% 64% 64% 64w 66% 92W 91% 91% 91% 58 58 31% 31% 31% 31y 18 118 12% 11% 1% 16% 18% 134 20% 29 27 1% 1% 1T 5% 101 12% 11% 12% 124 20 20 20 76 28% 224 234 22% 43% A3% 48u 43y 64% 122% 734 238 58 18 118 1 1% 13% 29% 27 1% 1% 18 5% 64% 128 8% 23 A% 58 18 118 1% 16% 18% 28% 27 2 1% 17% 64% 62% 64% 624 41 41 10% 15% 14% 41 15% 41 10% 10% 10% 14% 374 364k 37% 36 48% 43 43 434 224 22% 22% 21% 4 13% 17% 111% 47 46 1 3w 3% 15 11 108 34% o PRI T TP TUTTPRCTUUTSTRE NP 1 . 2 14 17 46% 3% 11% 34% 20 5% 26% 15 424 13% 110% 12% 1°48 48 48 4Ty 1 103% 103% 103% 102% 18 15% 4 28% 14% 15 14% 284 284 28% 43 42% 41% 42% 42% 4 108 107% 464 14% 13% 96 22% 35% 30% 86 19% 114 97 9% 29% 384 18% 61 6% 2% 24 5% 25 T4% 57% 14% 4 % 9% 82% 16% 30% 108 14% 364 18% 18 102% 1% 61 2% 25% 4% 58 4% % 9% 9% 82% 15% 1% 107% 14% 95% 23 34% 20 354 13% 17% 102 1% 85 2% 8 87 36 37 35 708 108% 108% 103% 108% 908 22 22 22 26 EX&HANGE stock and Sales— Prev. Dividend Rate. Add 00. High. Low. Clese. Closs, 80 Del Lack & Wn (6).. 274 Denver & RG W pt.. % Diamond Mateh..... ond Mtch pf 1% 8% Dome Mines (1). - I 18 S 118% DuPdeN 71 Eastern Roll Mills. . 143% Kustman Kodak (18) 18% Eaton Axle (1.60) 50% Klec Auto Lite 108% El Auto-Lite pf (7 214 Elec Boat....... > F-TONE- 108 19 A 30 Endicott-John 105 Endicott-John pf (1) 30% Eq Office Bldg (3%) 9 Eureka Vac Cl 4% Evans Auto Lo Exchange Buf (1 46% Fid Ph Fire In (2.60) 85% Filene's pf (6%) T&RDL( Nat Strs (2% 22% Fourth Nat Inve 26% Fox Film A (4) 28% Freeport, Tex ( 65 Fuller Co 2d pt t % Gardner Motor. 4% Gen Am Investo: 57% Gen Am Tank Car(4) 24% Gen Asphalt (3)..... 41% Gen Elec (1.60) 11% Gen Elec spec ( 47% Gen Focd Corp (3) 4% Gen G & E| A (e30c 54 GenG&Elcvpf(8). Gen Mills (3) wl - LTSI TR W 38% Goodyear Tire (5). Goodyear 18t pf (7. - malwowonem 58% Grt North pf (5). 85% Grt West Sug pf (7).2608 2% Grigsby Grunow. 2 18% Guif States Steel 6% Hahn Dept Stores. 15% Hall (WF) PrCo ( 89% Hanna pf (7) 116% Hercules Pow pf (7 87 Hershey Choc ( 93 Hersh Choc pf ( 5% Hollander Sons. 26 Holland Furn ( 81 FHomestake Min (17). Houdallle Hershey. Houston Ofl. . Houston Ofl (new). Howe Sound (4).... Hud & Man Ry (3.50) Hudson Motor (1)... Hupp Motors. ... flinots Central (1) wonSSue - = Indust Rayon ( Ingersoll Rand (t Inspiration Coppe: 6% Insur Shrs Md(40c) Interb Rap Transit. . Interiake Iron (60e). Int Bus Mach (08). . Int Carriers (280bwe. Int Cement (4). Int Combustion. . Int Harvester (3%).. Int Hydro El A (e2). Int Mateh pf (4).... Int Nickel (80¢)..... Int Nick Can pf (7).. - = Surmubeulosonnaem e S, Int Shoe (3)... Int Sfiver.... Int Stiver pf (7). Int Tel & Tel (2). Inter Dept Strs (2) Inter D St pf xw (7).1808 Investors Equity.,.. 2 Island Cr Coal (4). Jewel Tea (4).. Johns-Manville =S 874 28 73 Jones & Laug pf (7).130s 123 9 1% Jordan Motor Car... Kayser Jullus (2%) Kimberly Clark 2% 2 Kinney (G R) pf (8) 100s Kolster Radlo...... 5 Kolster Radio ctfs. . Kresge (88) Co 1.60. Kreuger & T (a1.60). Kroger Groc&Bak(1) Lambert Co (8) Leh Port Cmt ( Leh Port Cmt pf Lima Locomot (m2). Link Belt (2.40). Liguid Carbonie ( Loew's Inc (3).... Loew's pf xw (6% ) Loft Inc. .. Loose- Wi % Loose-Wiles 18t (7). Lorillard (F) Co.... LouG&EA (1%). Louls & Nash (7) Ludlum Steel McCrory A (2). Melntyre Porc M (1) McKeespt Tin P(15). McKesson & Rob (1) McKes&Rob pf(3%) McLellan Store Mack Trucks (4) Macy & Co (nt3). Mad 8q Garden (80c) Magma Copper (2). Mallison & Co....... Mandel Broth Man Elev mod (45) - - 3 CoplnlmnarulanoneenaSuenans Marshall Field (234) Mathieson Alkall (3) May Dept Strs (23). Maytag Co pf (3).. Mengel Co. . u-mola'nf (1.89). - 40 Minn Moline pf Mo Kan & Tex ( 20 Monsanto Ch W( 16% Montgomery Ward % Mother Lod: 2% Motor Me! wmaSanmon 12 8% Mullins Mfg. 42 36 Mullins Mfg pf (7)..1508 21% 85 36 23 26% 11% 21% 2% ) 98% 121% 11 171% 19% 8 5% 95 % | motive STOCKS IRREGULAR IN UPWARD TREND 22522 Motor Issues Are Rallying Dol Point on Upside—Changes Are Small. BY GEORGE T. HUGHES. NEW 9.—Advances mnmluwd in today's stock market. rise was irregular, with numerous exceptions,” but activity was greatest when &r‘lcu were gaining and lowest when they were declining and it looked as if the bull party had the better of the argument, for the time being at least. Motor stocks provided the rdllying point for the constructive forces in the early trading. Reports from the auto- manufacturing centers were optimistic and, more important, retail sales were said to be improving, whether because of the money borrowed by veterans . on their compensation cer- tificate or becguse the backed-up de- mand for motor cars was finally making itself felt. i New Highs Scored. Chrysler went to a new high for the year in the first hou nd a little later General Motors sold above its previous high. Each of these stocks were taken in ln-fle volume, although as_far as General Motors went there did not seem to be any organized buying. Nash and Studebaker were other strong motor stocks while Auburn Auto, which is in a class by itself, ran up 6 to 7 points, a modest gain for that issue. The accessory stocks were stimulated by buying of the motor shares. Electric Autolite was the feature with a gain of 4 to 5 points. Its annual report showed & net profit equivalent to $5.32 a share on the common stock. This wg.h..rp reduction from the 1929 result, but the market had discounted the relatively unfavorable showing. The erratic Mullins Manufacturing advanced and Stewart Warner made a new high. Pivotal Stocks, Of the standard industrials American Can was the leader, sell within a fraction of the best price of last week. United States Steel was heavy and ruled lower and the same could be said about ‘Westinghouse Electric, but these excep- tions to the trend were overlooked in the general show of strength. Shorts in J. I. Case retreated as the stock pushed ahead, while the group working in Vanadium bid that stock up to a new high on the movement above An interesting incident was the rise in American Woolen shares following publication of the balance sheet as of December 31 last. For a company which has consistently re- ported poor earnings this balance sheet proves a remarkable document. Current liabilities, exeluding $5,000,000 Shaw- sheen notes due October 1 next, were only $725,157, and against this sum there was cash of $18552,864 and United States Government securities of $7,119,298. Buying of the erred stock followed publication of state- ment. The utilities were the object of con- siderable realizing following their ad- vance of last week and they made little hours to- On our liberal 20 monthly repayment plan. No indorsers ired. A strictly dignified confidential service. Maryland Personal Bankers, INC. o et A SR Eq'uitale Co-perative dg.’ ssn. Organized 1879 JOHN JOY EDSON, President Sabscription for the 100th Issue of Stock Being Received See Us If You Desire a Loan on Real Estate or to Take Up First Mortgage YY7E have money available if 'yeu desire to purchase a home, refinance your present indebtedness or im- Applications receive prompt and prive your property. courteous attention. WALTER 8. PRATT, Jr., Secretary hrysler, Motors, rd, Studebaker and Nash, CI - ler was at a mew 1931 high. During the first half hous trading amounted to 40,000 shares, the same as on Saturday. Call money renewed unchanged at 13§ per_cent. United States Steel was fraction lower, but Bethlehem Steel and Vana- dium were both strong. United Corpo~ ral was an active feature ‘in the utilities, o] m{ at a new peak for the year and T the gain. Amer- ican Telephone and Brooklyn Union Gas were higher. Ofl shares were dull. In the mine group Anaconda and Granby were slightly higher. Rallway Signal was nearly 2 points her. Active industrials to improve fraction- ally were Air Reduction, Columbian Carbon, J. I Case, n Kodak, Warmner Bros, Radio, General Electric, Westinghouse, Columbia Graphophone and Worthington Pump. B. F. GOODRICH REPORTS $8,374,148 LOSS IN 1930 By the Associated Press. N, Ohio, March 9.—Loss of $8,374,148 for the year ended Decem- ber 31, 1930, was reported by the B. F. Goodrich Co, in its annual report. e depreciation and a1 other Charges leprec AN of charges, was put at $4,085,565. Shi e of sales of 5.6 per cent in dollar values was reported, 1930 sales of $155,256,245, comparing with $164,- 494,958, in 1929. Actual comparison in sales would show a loss of about 20 per cent, taking in consideration Goodrich’s acquisition in September, 1929 of Hood Rubber Co. and February, 1930 of Miller Rubber Cq., President J. D. Tew pointed out, however. Tew said it was the second, time in the company's 60 years that it has operated at a loss. ‘The company entered the present year in good financial position, both as to cash and ratio of assets to liabilities, he added. First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Money on Hand to Loan on First Deed of Trust 6% Interest un;uu to e rmer b of Open Daily 9 to 5 Saturdays Until Noon National 1381 BUILDING ASSOCIATION 949 NINTH ST., NW. 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FIRST MORTGAGES THERE ARE SAFE INVESTMENTS —and one of the best, proven by a record of more than a third of a century without a loss, is our 6% FIRST MORTGAGES ' In them there is nothing spec- ulative. - You put your principal at work, with security that se- cures—and at regular intervals you are paid this”definite fixed amount—continuously to the maturity of the mortgage. Over a Third of a Century Without a Loss May be purchased in amounts from $250 up. SAUL CO. 925 15th St. N.W. A e National 2100