Evening Star Newspaper, March 14, 1931, Page 13

FINANCIAL |IRETAIL CREDIT CONDITIONS NATURAL GAS RACE smcK PR“}ES GAlN MAINTAIN STEADY CHARACTER EXTENDS T0 GOTHAM AT SHORT SESSlUN Survey by Departuiest of Commerce Upturn in Market Laid to S]‘lOWB Amerlcan Buyers Arc Contmu- i FINANCIAL BANKSRETANTAX |[ NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The. Star Office. AIDS ANOTHER DY) sz s e W] ows those stocks were sold in odd lots. ~Prev. 1931~ Stock ana Sales— High. Low. * Dividend Rate. Add 00. High. Low. Close. Close 14% 9 Abitibi Pow & Paper 1 11% 11% 1% 11% 52 39 ADItibIP&PDI(6). 4 4d% 43% 4dn 44 stock ana Sates— Prev. Dividend Bata, = Add 0% Hish Lew. Closs. Oloss: GenG&Elcvpf(8). 1 72" 7% Gen G &EIpf A (8).. 108 i o Gen Mills (3).. 1 Gen Mills pf (6) % Gen Motors (3)... Gen Ptg Ink (2%). 1Thr¢e Companies Are Reported in i Contest for Valuable Fran- p-! chise Rights. 43% Experts to Remain on Duty 20% 2% 29% 29% Monday—Reserve Credit Up $34,000,000. BY EDWARD C. STONE. Income tax experts from the Internal Revenue Bureau, who are now assisting ns of the local banks in the mak- out of income tax returns, will re- on duty next Monday. Because March 15 falls on_ Sunday this year, an additional 24 hours is automatically allowed to income tax payers for submitting their returns to the collectors in the various districts, the bureau, has announced. 15 is the last day for Federal income tax payments, but when that date falls-on Sunday or a holiday an | additional day is granted, so that the returns may be mailed up to midnight on the sixteenth. Revenue specialists have been located in Washington banks for' the past week and have rendered great assistance to the public in making out returns. They have also been of tremendous help to many bank officials on whom much of this work falls every vear. Reserve Credit Up 334,000,000, ‘The daily average volume of Federal Reserve bank credit outstanding dur- ing the week ending March 11, as re- by the Federal Reserve banks Was $044,000,000, an increase of $23,- 000,000 compared with the preceding week and a decrease of $133,000,000 pared with the cofresponding week in 1030, On March 11, total reserve bank credit amounted to $942,000,000, an in- crease of $34,000,000 for the week. This increase corresponds with an_increase of $71,000,000 in member bank reserve balances of $5.000,000 in monetary gold stock and $10,000,00 in Treasury cur- rency. Holdings of discounted bills declined 14,000,000 at the Federal erve Bank of San Francisco and $18,000,000 at all Federal Reserve banks during the week. ‘The system’s holdings of bills bought in open market increased $50,000,000 and of Treasury notes $10,000,000, while holdings of Treasury certificates and declined $5,000,000. How the Mighty Have Fallen. ‘When stocks were reaching peak prices in 1929, blue-chip stocks, selling for $200 a share or better, were com- mon. Several made thelr appearance :ln the tape hourly in a five-hour ses- on. March 9 last only three blue-chip stocks were traded in on the New York Stock Exchange—People's Gas at 244, Norfolk & Western at 205'; and New York & Harlem at 200. ‘The remaining blue-chip stocks not traded in that day were: Alabama & Vicksburg, with the asked price 225; American Express, 190 bid, 675 asked: Central Railroad of New Jersey, 213 bld 230 asked; Laclede Gas, 207 bid, asked; New York & Harlem pre- !!rred 165 bid, 220 asked, and the Phil- ldelphh Co., 140 bid, 200 asked. A sale of any one of the foregoing stocks at less than 200 bid would eliminate it from the blue-chip class. year, 27 stocks sold between 200 and 300 a share, eight between 300 and 400 a share, one between 500 and 600 and one between 3,100 and 3,200. That, comments the Wall Street Journal, made a total of 37 blue-chip stocks, compared with 94 in 1929 and 79 in 1928. In 1924, only 11 stocks were in the blue- chip class. Bank Elects Two Directors. Directors of the International' Ex- change Bank added two members to the board at a meeting yesterday—Dr. Salvatore Floria and Augustus. Zaha- roudis—the president, Joseph Schiavone, announces. Dr. Floria, a Washington physician, was royal Italian consul here during the ‘World War. He was one of the original directors of the International Exchange Bank and a vice president at that time. Mr. Zaharoudis is one of the city's younger business men and is president ot the Sunrise Bakery Southern Ileel-lru Dividend. Directors of cthe Southern Rallway have declared the regular gquarterly dividend of $125 a share on the pre- o 104 217% 2% 64 27% 104 ‘l’fi 0 ll)'l 66% 14% T9% 110% 4 25% 44 T0% 123% 29 5% 30% 228 25 Abraham Straus: 100 Abraham St pf (7). 164 Adams Exp (1.60) 5% Adv Rumley (new. % Ahumada Lead. 9215 Air Reduction (t: T Alr Way Elec Appl. . 7 Alaska Juneau (40c) 7% Alleg Corp. . 147% Allled Ch & 32% Allls Chalmers (3).. 1 Amal Leather.. 174 Amerada Corp (2) 547 Am Bank Note (13).. 32 Am Br Shoe (240)... 814 Am Brown Bov Elec. 45% AmBrBEDf (1)..0. 106% Am Can (15).. 145 Am Can pf (7) 27 Am Car & Fdry (3).. 74% Am Car & Fdy ot (7) 384 Am Chicle (13)...... 14% Am Colortype (1.40). 9 Am Encaustio (1)... 19 Am European Secur. 26% Am & For Power.... 235 47% Am Home Pr (4.20).. 21 1 . 1208 108 18% Am International 20% Am Locomotive (2) 31 Am Nat Gas pf ( 45 Am Pow & Lt (11) 94% Am Pow & Lt pf (6). 80 AmP&Lpf A st (5) 16' Am Rad & St San (1) 7 Am Republic: 261 Am Rolling Mills. .. % Am Ship & Com. ... 40% Am Sm & Ref (4). 9315 Am Sm & R 2d pf (6) 129 Am Sm & Ref pf (7). 6% Am Solv & Chem pf. 25 Am Steel Fdy (3). 42% Am Sugar Ret (5) 8 Am Sumatra Tob. 15% Am Tel & Cable (5). 176% Am Tel & Tel (9)... Am Tobacco (16). 104% Am Tobacco B (16). 90 Am Type Fdy (8)... 105 'ype Fdy of (7). 208 2 Am Writ Paper ctfs. 29% Anaconda Cop (2%). 897 Anchor Cap pf (6%). 60% Armour of Del pf (7) 2% Armour of Il A..eee 1% Armour of Ill B.. 25 Armour of Iil pt 19% Asso Apparel (32) 22 AssoDry G (2%). 178% Atch To & S Fe (10). 18 Atlantic Refining (1) 8% Atlas Stores (nl). 101% Auburn Auto (f4)... 1 AutosaleS...... 8 Aviation Corp of Del 20% Baldwin Loco (1%). 54 8814 Baldwin Loco pt (7). 10- 684 Balto & Ohlo (7).... 724 Balto & Ohio pf (4).. 1 108 Bamberger pf (634). 40s 56% Bang & Aroos (3%). 5 11% Barnsdall (A) (1)... 15 65 Beatrice Cream (4). 106 Beatrice Cr pf (7)... 24 Beiding-Hemingway 1 167 Bendix Aviation (1). 25 32% Best&Co(2)..uuusn 45% Bethlehem Steel (6). l‘l! 114} Bethlehem Stpf (7). 1 24 Blaw-Knox (1%). 6715 Borden Co (k3). 20% Borg, Warner (1).... 165 Briges Mf (11.62%). 58% Bklyn-Man Tr (4)... 52 Bklyn&QuT pf (5). 103 Bklyn Union Gas (5) 5% Bruns Ter & Ry 8. 4 Budd (EG) Mfg. 9 Budd Wheel (1). 11% Bullard Co.... 11% Bulova Watch (1%4). 5 Burns Bros B 21% Burroughs A M 11 'h. 1% Butte Copper & Zinc. 12% Butterick Co 87% Byers (AM 2 3 o AR aSe o o 175 Cannon Mills (1.60).. 915 Capital Admin A.... 81% Case (J 1) (6). 11 26% Caterpillar Trac (14) 1 19% Gent Aguirre As13. 22% Cer de Pas Cop (2) 12 Checker Cab Mfg. 3944 Ches & Ohlo (23)... 40 Chesapeake Corp (3) % Chi & Alton pf.. 6% Chi Great Western 101 21% 101 21% 101 21% A 101 21% 65 57% % 1% 45 24% 141 31% 86% 101%, 9815 Gen Pub Sv b§% stk. Gen Realty & Util. .. Gen Refractories (4) 0 20 8 Gillette Saf Rasor., Gimbel Bros. Gobel (Adolf) Gold Dust (2%) Goodrich (B F) Goodyear Tire (5)... Goodysar 15t pf (7). Gotham S H pf (7). 4 Gould Coupler. . raham-Paige. . Granby Consol (2).. Grand 811 Strs (h1).. Grand Unfon. ......e Granite City St (3). Grant (W T) (1). Grt Nor Ore (2) Grigstw Grunow Hahn Dept Stor Harb Walk Ref (2) Hayes BodY.......s Hershev Choc (6) ... Hersh Choe pf (16) Hollander Sons. .. ... Houdallle Hershey. . Household Fin pf (4) Houston Oll.....u.e Houston Ofl (new). Howe Sound (4) . Hudson Motor (1) Hupp Motors. .. Tlinots Central (7) Indian Motor Cycle Indust Rayon (4) Ingersoll Rand (t Inland Steel (4). Insuranshar Del 40c. Interlake Iron (60c). Int Agricultural. % Int Carriers (25¢) Int Cement (4). Int Combustion Int Harvester (234). Int Harvester pf (7). Int Hydro E1 A (e2). Int Match pf (4). Int Nickel (80¢)..... Int Paper & Pow A.. Int Pap & P pf (7). Int Salt /3). Int Tel & Tel (3). Inter D St pf xw (7). xo- Jewel Tea (4).. Johns-Manvilie (3. Jordan Motor Car. Kans City Sou (5) 1 Kayser Jullus (2%). Kelvinator Corp..... Kennecott Cop (2).. Kinney (G R) pf (8) 10! Kolster Radio. Kolster Radlo ctf Kresge Dept St pf Kresge (SS) Co 1.60. 25 Kreuger & T (al.60). 44 Kroger Groc&Bak(1) 41 32% LambertCo (8)..... 37 86 Leh Port Cmt pf (7). 50s 100% Leh Valley Coal. Leh Val Coal pf (3) Lehman Corp (3). Lib Ow Ford Glass.. Li7g & Myers B (15) Lima Locomot (m2). Link Belt (2.40)..... Liguid Carbonic (4). Loew's Inc (3) 1 1008 E cos Brana~Tanaonn Saneonwe~ e 394 52'% % 35 16% lfl 2 14 e Loose-Wiles (12.70). Lorillard (F) Co. Lorillard (P) pf (1). LouG&EA (1%).. Louls & Nash (1) Ludlum Steel. .. McCrory A (2). McGraw-Hill (2). MéIntyre Pore M (1) McKeespt Tin P(15). MeKesson & Rob (1) McKes&Rob pf(3%). McLellan Stores. Mack Trucks (3). Maey & Co (nt3). Manhat Shirt (1). Marine Mid (1.20) Marmon Motor Car. . Marshall Field (2%) Mathieson Alkall (2) ° Met-Gold of (1.89).. « Mexican Seaboard... Miami Copper . . 4 M1d-Cont Pet (2). Midland Steel (3 Midland Steel pf Mo Kan & Tex (a3) 4 Missouri Pacific Missouri Pac of Mohawk Carpet Monsanto Ch W(1%) Montgomery Ward.. 13 N R Baen BennoeSSEnnan Y Sefuaan - Covering Operations by Bears. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW York, March 14.—Wall Street was in a more cheerful mind today and trading in the stock market, while | in small volume, was mostly at higher | prices. Probably the gains, such as they were, represented taking in of short contracts, but at least it was significant that there was no renewal of the pressure which figured so largely | in the preceding session. | Traders were impressed with the cau- tious references in the weekly business reviews to signs of improvement. They were pleased by the optimistic reports from the motor manufacturing centers, and they even had hopes of something better to come from the oil industry. Against these favorable considerations the probabilities of more dividend re- ductions modified enthusiasm toward the market and tended to restrict opera- tions. The utilities led in the rally today, as they have so often done of late. Con- solidated Gas, Public Service of New Jersey, United Corporation and Stand- ard Gas & Electric all worked higher under the same sponsorship as during the original upturn in these stocks. American Telephone & Telegraph was heavy, which was rather surprising and without explanation. American Water Works was another laggard, and the movement in general was not uniform. Motor stocks were very firm, espe cially General Motors, selling today only about a point and a halfl under the best of the y ‘The way in which General Motors has held up has been one of the features of the market all during the reaction. American Can and United States Steel did better, and there was some indi- cation of an awakening of interest in the merchandising shares, particularly Woolworth. Among specialties, Drug Incorporated moved up easily and Va- nadium advanced after details of the new financing had been announced, | — while Allied Chemical, J. I. Case and Eastman Kodak benefited from the short covering. ‘The rails were inactive, but the nerv- ousness over the cut in the New York Central dividend seemed to have worn off. Central, Atchison and Union Pa- cific were all moderately higher. Two important dividend meetings next week are those of Baltimore & Ohio and of Kansas City Southern, the results of which will afford another test of the market position. Markets at a Glance NEW YORK, March 14 (#).—Stocks, firm; Radio advances 3 points. Bonds, firm; rails strong. Curb, firm; Goldman Sachs strong. Foreign exchanges, ir- regular; Europeans steady. Cotton, steady: trade buying. Sugar, steady: local buying. Coffee, higher; Brazilian support, INSURANCE FIRM SOLD. RICHMOND, Va, March 14 (Spe- cial) —Our Home Life Insurance Co. of Washington, D. C., has reinsured the Virginia business of the Virginia Mutual Life Insurance Co. of this city, accord- ing to announcement today by the State | Bureau of Insurance, which approved the deal. The Virginia Mutual Life has | been operating only a few years, with | Oscar Hornsby of Seaford, Va. and Richmond as president and manager. Our Home Life Insurance Co. holds a Florida charter and operated with home | office in Jacksonville for some years be- fore moving to Washington. DROP IN EXPORTS. January exports of agricultural prod- ucts amounted to 85 per cent of the pre-war level, according to the Depart- ment of Agriculture. At this point the mg to pay Their Bills Satlsfactorlly. BY LOUIS E. VAN NORMAN, In spite of the general and wide- spread lull in business activity during the latter half of last year, there were no disturbing changes in retail credit conditions. Open credit and install- | ment_accounts of department stores | and related lines during that period | were paid in an orderly manner. New ones, moreover, in the same proportion to cash sales as formerly, were assumed. All changss which it has been pos- sible to note with regard to credit seem to be generally in line with past trends. The American people are paying their | bills satisfactorily and, moreover, indi- cations ars that this same trend is t'lg\;lmct(‘rizlng the early months of | 1 . | 400 Firms Represented. | These interesting conclusions as to | retail trade are the result of a survey just completed by th: Department of Commerce, based on reports received from nearly 400 retail establishments in 24 large cities throughout the country. The lines of trade covered in the survey are representative of retail trade in general and among the largest users of credit. They are d-partment, jewelry, furniture, men's clothing, shoes, wom- en’s specialties and electrical appliance stor Sal‘s for the latter half of 1930 were some 11 per cent below the correspond- ing period of 1929. Part of this de- cline, however, may be accounted for by lower prices, It is estimated that retail prices fill approximatelv 9 to 12 per cent from December, 1929, to De- ember, 1930. This means that, taking retail sales as a whole, approximately | the same quantity of goods was sold in | 1930 as in 1929, although the dollar sales w're 109 per cent less. Jewelry | stores showed the greatest decline, while furnitur. store sales were the | nearest to 1926 levels. Washington, D, G, had th: smallest decrease in| sales Bad debt losses on open credit sc- counts as a whole were six-tenths of 1 per cent in 1930, as compared with five-tenths of 1 per cent in 1920. The number of fraudulent checks received CLERKS TACKLE BROKER INCOME TAX PROBLEMS Special Dispatch to The Star. NEW YORK, March 14.—Though ‘Wall Street firms usually like to get in- come tax returns cleaned up near the first of the year, the last few days before March 15 annually find much work remaining to be done. Many brokerage hous:s today had special staffs of clerks working on the income tax returns, not of the houses’ own in- comes but on the statements of cus- tomers, Banks throughout the financial dis- trict have established desks piled with income tax forms and attended by those mathematical genii who come out of hiding each year at this time to cope with the tax blanks. One broker commented today that out of 30 accounts in his personal charge, only three would have to pay any tax at all, the others all showing | enough capital losses to cancel taxes owing on other income. A year ago he had charge of over 100 accounts and all of them paid income taxe: —_—— ‘The failure of three larze land im- provement companies in Italy Fas now been traced to mismanagement and speculation and the government has given assurances that such failures will not be repeated. First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. / Established 1899 LOAN % ainterest was slightly larger. Losses on install- ment accounts were just below 3 per cent in the period of 1930, as com-| pared with 25 per cent in 1929, with collections three to five days later Electrical appliance stores had the highest percentage of returns, while | shoe stores had the highest on open| credit sales. Collection percentages on open credit, for all stores considered from July to December, 1930, averaged | just under 40 per”cent, while for the |same period during 1929 the percent- | ages averaged 42!, per cent. Changes Are Small. ‘This survey is made semi-annually | by the Department of Commerce, in co-operation with the National Retail Credit Association and other credit bureaus in representative citie: Copsidering the abnormal circumy stances, the changes are small. In fact| | the proportion of business done on open | credit was practically the same as dur- ing the like period in 1920, while sales on an installment basis have accounted for a slightly larger portion of retail sales. Comparing this detailed history of retail credit for the depre&flnn year of 1930 with the “boom” year 1929, it is seen that the decrease in collection percentages and the increase in losses | of various kinds were smaller than might have been expected. Commenting on the results of this survey, Willlam L. Cooper, director of the Bureau of Foreign and Domestic Commerce, gives it as his opinion that they are reliable and_representative “the figures obtained indicate | Hnt Setail roed 1S ton Vot et has stood the test in a highly satisac-' tory manner. (Copyright, 1931.) BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, March 14.—Behind the | brisk movement. of Seaboard Utilities on the stock markets here, it was learned in Wall Street today, is a race to put | natural gas into the Greater New York | area. The natural gas race at present seems | to be among three companies, Stand- ilrd Oil of New Jersey, Columbia Gas | & Electric and Cities Service Co. Jer- | sey Standard has leased around 500,000 acres in upper New York State con- tiguous to gas territory, approximating | the acreage leased by Cities semu | Meanwhile Columbia Gas, th th old ml Ppipe lines of the New York Transit has pipes down as far as Hacken- ‘fiu('k N. J. | _Public Service Corporation of New Jersey within the last few weeks has offered natural gas contracts to in- | dustrial consumers. Various silk and | rayon manufacturers and dyers in the J{flrnsnu Paterson and Passaic dis- | tricts have been approached on In- dustrial natural gas contracts, and, is said mn Wall Street, several hlv! signed up. Natural gas, unmixed with | artificial, will be sold to industrial co sumers, engineers say, but the two types of gas will have to be mixed for mestic consumption. | New Yorkers expect to get natural gas some time within the next year, but much will depend on lhe ability of such utility investment companies as United Corporation, the Morgan-Drexe } Bonbright firm, to get a further foot- hold in Consolidated Gas of New York. When natural gas comes to this city it | will be mixed with the manufactured gas, reducing the actual cost and in- sreasing the heat value. (Copyright, 1931)° Experienced Property Manzgement We Put Ourselves In Your Place When we assume the management of your property your interests are the first consideration. With our experience we are in a position to meet every prob- lem that can arise—-and you can rest confident in the assurance every detail is being watched. How successfully will be reflected in the statements ren- dered regularly. RANDALL H. HAGNER & CoMPANY MORTGAGE LOAN CORRESFPONDENT New York Life Insurance Company 1321 Connecticut Ave. Decatur 3600 DOUBLY ATTRACTIVE There are two strong fea- tures ment 6% connected with snvest- in our FIRST MORTGAGES —which make them doubly at- tractive. The generous thing—fixed throughout the life of the mort- . one Over a Third of a gage. interest for in amount Century Without a And the security for principal —represented by conservative- ly appraised Washington real estate. Motor Meter G & El. Motor Wheel 1%) Mullins Mfg. ... Munsingwear (3) Murray Corp... Nash Motors (4. Nat Blscuit (2 Nat Casl Reg A (3). Nat Dairy (2.60). at Dist Prod (2) index of exports was the lowest for any | January in the last 16 years and 28 points below the unusually low index of January a year ago. Principal factors contributing to the decline were the de- creases in exports of cotton, wheat and | | ferred stock, rayable April 15 to stock SE of record Maich 23. Contract for construction of an ad- dition to the First National Bank of Alexandria has been awarded to Wil- liam P. Lipscomb Co. of this city, ac- to announcement yesterday. That for the vault work was given to the York Safe & Lock Co. Invitations have been received here J. A. W. Iglehart & Co., invest- 19% Chi Great West pt. 5% Chi Mil St P & Pac. % Chi Mil St P& P pt.. 9% Chi Pneu Tool. 23% Chi Pneu Tool pf. 94 Chi R 1& Pacpt 10% Chickasha Cotton Ol) 26 Chile Copper (2) 15% Chrysler Corp (1). 35% City Ice&Kuel (3.6 77 City lce & F pf (6%) Bl)l Loss N - oS B aBunanice STATEMENT oP THE CONDITION The Fidelity & Casualty Co. May be purchased in amounts from $250 up—upon our con- Money to Loan SecureG by first deed of trust on te: Prevailing interest i ment bankers, with Washington offices, for inspection of their new offices in ths Iglehart Building, 100 St. Paul street, Baltimore, Md., which they will occupy March 16, The annual meeting of the Acacia Mutual Life Association will be held at sg Tuesday, at the Acacia Home ® Building, Pirst street and Indiana avenue northwest. Other Financial Notes. J. Thilman Hendrick, partner in the firm of W, B. Hibbs & Co., and chair- man of the Board of Lanston Monotype Co., is spending a short vacation at Atlantic City. Deposits of the 134 trust companies and State banks of Maryland increased $29,000,000 last year to an aggregat> of $529,000,000. James G. Garrett, president of the Central ‘Savings Bank, Baltimore, has been elected a director of Mercantile | ‘Trust Co. Adequate laws to regulate maximum and minimum rates charged by busses to prevent unbridled competition is nesd=d if the railroads are to compete succcesfully with the growing motor bus_traffic, G. W. Phillips, passenger traffic manager of the Seaboard Air Line, yesterday told the Interstate Com- merce Commission. LAMBERT’S EARNINGS FOR YEAR ANNOUNCED Bpecial Dispatch to The Star NEW YORK. March 14.—The Lam- bert Co. reports for the year ended De- cember 31, 1930, consolidated net prof- its, after taxes, of $7.132,412, based on the ownership of 958 per cent of the stock of Lambert Pharmacal Co. and including Pro-phy-lac-tic Brush Co. acquired in 1930. This is equivalent to $9.52 a share on the 748996 shares of capital stock outstanding at the end of the year. On a similar_basis, including Pro-phy-lac-tic Brush Co., consolidated net, profits for 1929 would have been $7,511.481, equivalent to $10.02 a share on the same number of shares. GRS Shingle Exports Drop. By the Associated Press, Establishment of a Belgian asbestos shingle branch factory in the United States in 1929 is held largely respon- sible for the very large drop in exports | of this commodity from Belgium to this | country during the last year. Exports of these shingles from Brus- sels in 1930 amounted t0 only $18,068 as compared with $463,810 the pr:vious years. The decline, the Commerce De- jent says, is attributable to the act that the factory in this district, l’mlllble for all exports of this article from Brussels, established a branch in the United States during 1929, Asbestos used in the manufacture in Belgium is mined in Canada, and as the United States is one of the largest outlets for the firm, it was found worthwhile to create a manufacturing unit nearer the mining center. Freight charges on the raw material from Can- ada to Belgium, and of the finished uct from Belgium to the United tates appear w be much in €xcess of e increase in cost of labor. B 109% 911y 30 56% 56 2% City Stores......... ' City Stores A (3%)." 208 142 Cocoa-Cola (17%)... 1 47 Colgate-Pal-P (2%). 10 9 Collins & Alkman... 1 9% Colonial Beacon..... 21% Colo Fuel & Iron (1). 33% Col Gas & El (2).... 100 Col Gas & El pf A (6) 7% Col Graphoph (8% ). 731 Columbian Carb (16) 184 Comecl Credit (2).... 34 Comcl Credit A (3).. 21% Comel Cred pf B (2). 20- 15% Comm Solvents (1).. 35 % Cmwith & Sou (60c). 84 91% Cmwlth & Sou pf (6) 6% Congoleum-Nairn,.. 5 9% Consolidated Film... 12 15% Consol Film pf (2) nsol Gas N ¥ (4).. n Gas of NY pf(5) nsol RR C pt (6).. ntainer Corp (A). . Container B. 17% Conti Baking A 2% Contl Baking B. .. 67% Contl Baking pt (8).. 47 ContlCan (2%). 41 Contl Insur (2.40)... 27 Contl Motors. . 9% Contl Oll of Del. #i3 Cont Shares 7612 Corn Prod (t 123 12 147 Publish pf (7) Wright Corp 3% Curtiss Wr Corp A.. Detroit Edison (8) Diamond Match, 61% Drug Corp (4).... 83% Dupont de Nem (4). . 102 Duques Lt 18t pf (5) 143% Eustman Kodak (18) 35% Eitington-Schild pf. 50% Elec Auto Lite (6).., 82 108% £l Auto-Lite pf (7). 1008 50% Elec Stor Bat (6).... n1 . 113 Office Bldg (2%). fe RR. . 1o RR 18t pf (4)... 4% Evans Auto Loading 102% Falrbanks M pf (7). Fed Lt & I'r pt (6) 208 46% Fid Ph Fire In (2:60) 2 41 First Nat Si l:vn‘ 2 15 Kisk Rubber. 5 2 Fisk Rubber 15t pf.. 1308 29 FlorshelmShA (3). 3 41% Foster Wheeler (2).. 10 4% Foundation Co 2 22% Fourth Nat Inves 26% Fox Filn A (4). 28% Freeport. Tex (4)... 65 Fuller Co 2d pf 16.77. 80. % Gardner Motor. . 4% Gen Am Investors. .. 57% Gen Am Tank Car(4) 24% Gen Asphalt (3). 98 Gen Baking pf ) 7 Gen Cabl 16% Gen C: 34 Gen Cigar 41% Gen Elec n x 11% Gen Elee 47% Gen Focd CovP 4% Gen G & El A ( at Surety (5) Neisner Bros. Nevada Copper N Y Air Brake (2.40) N Y Central (6)..... N Y Invest (1.20 NYNH & Hart (6). NYNH&HDf (1) NYOnt& We Nor Am (b10% stk 4 No Ger Lloyd(a3.43). Norwalk Tire & Rub. Ohio O11 (1). . Oliver Farm E Omnibus Corp Otis Elevator Otis Steel prpf (7). 108 Pacific Gas & El (2).. 7 Pacific Lighting (3). 4 Pacific Tel & Tel (7). Pack Mot Car (60c) Paramount Pub (4) park Utah. . Pathe Excharge. Pathe Exchange A. .. 4 Peerless Motor Car. Penick & Ford (1) Penney (J C) (2.40). Penn Dixie Cement. . Penn RR (4) Petrolm Cp of Am (1) Phil Read C & 1 Philip Mor & Co (1). Phillips Petroleum. . Plerce Oil pf. .. Pierce Petrolm ( Pittsburgh Coal pf..2 Poor & Co (B) ! PR Am Tob B Prairie Oll & Gas (2) Prairie Pipe L (3). Proct & Gamb (2. 40) Prod & Refiner; Pub Sv N J (3.40) Pub Sv N J pf (6)... Pub Sv NJ pf (6)... Pub Sv E & G pf (6). Pullman Corp (4)... 3 64 208 127% 10 29 2 Pure O1l pf (8). Purity Bakeries (4). Rudin Corp.... . Radio Corp B ( adio-Kelth-Orph s Man 2.60 e-mmx Ry (4).... Real Silk Hos pf (7). Remington-Rand. ... Rem-Rand 1st pf (1) Reo Motor Car (40¢). Republic Ste I n-puhur Steel Reynolds Tob B (3). Richfield O Rio Grande Oil. Rossia Insur (2 20). Royal Dutch m1.3404 Safeway Stores (5). Safeway pf (6). St Joseph Ld (2). Schuite Retafl Str Schull etall pf (8) Scott Paper (31.40). Seaboard Alr Line Sears Roebuck $2 Second Nat I vel ins. 108 . Y31 Shactuek B G ( ccnnunm on Page New York for the District of Columbia. e Gode of Law INCOME. Net premiums : Total nteres Other income . Total income ............. $33,076,115.25 | DISBURSEMENTS Net amount pald policy holders Al other Gisbiitsements Total disbursements Rtl! estate i o - 3153422083 | loais”on i el estate. Eolatena Toams Bonds Deposits in_banks Eremiums in course of coilection Interest and ren e 281074808 | 6.228,163.38 171,901 Al Ot her *assets B11308 94 Gross ssets § 3 Deduct assets not admiiied: . Total admitted assets... LIABILTTIE Total unpaid claims ?, Total unesrned ‘premiiima: . 1 ! Other liabilities apital paid up urplus over all liabiiiiies Total +.$38,350,924.33 | NET PREMIUME \QI(A(TXFN DURING | Dist._of Col fccident . umm\ 20 $9.550.28 onlth 38,9101 3.117.03 | Nnn clnronnhla M and health Auto lianiity. 000! 60004037 2275038 | Liability other” than | 2,400.397.34 urety Plate glisé . Burglary and’ thef: 215:933.93 2,495.752.62 252,020.08 78,448.48 10,723.36 $27.453.606 68 5.48 NEWMILLRR, Vice Bres .. Asst. Secretary. bed and sworn to before me this stheday of March. 1930. H. L PRAN Korats Fabilc Notary public, Kings County No, 317 Ree yo- Jozs. ew_York County No. N¥: Rog Nor T4 Commission expires | AMareh 50,1951 “AMERICA FORE" The Fidelitv & Casualty Co. of New York 1 NEW YORK BANKS Deposits, Ten Billions (These great banks are the backbone of 1) tion. and you can purchase an interest in them at current Robert C. Jones & Co., Inc. Shoreham Bldg. Met. 2022-23 Please send me complete detalls. w prices.) Joseph L. Weller m"‘: Secured by First Mortgages Safe—Conservative 43 Years’ Experience in financing homes and in the sale of these se- curities. Make your sav- ings and surplus sten t ahsolute safety. Wm. H. Saunders Co., Inc. REALTORS Dist. 1016 1519 K St. For Storage or Other Business Purposes ONE OR MORE L.OORS IN MODERN FIREPROOF WARE- HOUSE YApproximately 7,000 square feet to a floor. fIn heart business section, of downtown {[Freight elevator service. REASONABLE RENT. Apply MR. HITE— Merchants Transfer & Storage Co. The Cambria-Majestic 1324 Euclid St. N.W. Four Rooms, Kitchen and Bath Reasonable Rentals ]usl Think of It— The Star delivered to door every evening and B\Indly morning at 1%c per day and 5¢ Sundsy. Can you afford to be without this service at this cost? Tewhnne National 5000 and de- will_start at once. venient Partial Payment Plan. B. National 2100 THERE 1S, NO Capital & Surplus $3,500,000 F. SAUL GE). 925 15th St. NN\W. SUBSTITUTE FOR SAFETY Sixty- Fifth Year Your Pay Day Funds Deserve Highest Protection —and they will have that and nothing less, when in the kceping of this time-tested bank. {[We're bankers to more than 53,000 customers, and invite you to avail yourself of the unsurpassed fa- cilities at the disposal of {lAlmost any amount will open an account. all our depositors. Same rate of interest paid on both small and large ac- counts. Open Until 5:30 P.M. Monday, March 16th OFFICERS: National Qldest Savings Insti Cor. 15th an DIRECTORS: LIA] 100! ALD 8. WILLIAM B. \fi_flq‘n MARLEY P. WILSO! avings & Trust Co. ion in the District ®f Columbia ew York Ave.