Evening Star Newspaper, April 9, 1931, Page 13

'BANKERS PLANNING TRIP 0 RICHMOND D. C. Delegatiori Will Attend Federal Reserve Stockhold- ers’ Meeting Tomorrow. BY EDWARD C. STONE. Several Washington bankers will at- tend the annual meeting of the Stock- holders' Association of the Federal Re- serve Bank of Richmond to be held to- morrow in the Vir- ginia_capital. This one-day session is always of very wide interest to mem- bers of the associ- ation and this years program promises to equal or surpass those 6f former meetings. The president of the association is F. F. Beattie, pres- ident of the First National Bank of Greenville, S. C. and a former Washing tonian, having graduated from George Washington University Law School in 1902, He is also a former president of the South Carolina Bankers' Associa- tion. He will give one of the addresses at tomorrow’s meeting, his subject be- ing “Bank_Suspensions.” Edward F. Colladay of this city is an- cther speaker on the program. He will discuss “State Taxation of National Banks.” John M. Miller, jr., a promi- nent Richmond banker, is aiso_on the program, his topic being “The Evils of High Rates of Interest on Savings Ac- | counts.” One of the highlights of the seventh | ennual meeting will be the talk b{i Gov. Seay of the Federal Reserve Ban of Richmond, on “Reserve Happonings.” Goy. Seay always addresses the stock- holders' meeting and gives the members an insider’s view of what has been tak- ing place during the year, and why. McKee Slated for President. ‘The office of president changes every year. H. H. McKee, president of the National Capital Bank of this city, is now vice president and it is anticipated by other members that he will be the next president. George H. Keesee of the Richmond Reserve Bank has a per- | manent job as secretary. The members of the ‘Advisory Committee and the years in which their terms expire are as follows George R. Gehr, chairman, Westmin- ster, Md., 1931: W. B. Copper. Chester- d., 1932; Floyd E. Davis, Wash- , D. C., 1931; J. Frank White, Washington, D. C., 1932; C. S. Carter, Bristol, Va., 1931: Sam H. Plummer, Newport News, Va, 1932 P. Strother, Welch, W. Va., Karl W. Corby. Boyce, Gastonia; N. C., 1931 ‘Turnage, Ayden, N. C. 1932: Glover, Orangeburg, S. C., 193! Sloan, Columbia. S. C., 1932, and Waldo ii’esv"comzr, Baltimore, Md.,, ex officio, It is expected that Eugene Meyer, governor of the Federal Reserve Sys- tem; Charls S. Hamlin and George R. James, members of the Federal Re- serve Board, will be present at tomor+ TOW's meeting. Among the Washington bankers who will attend are George O. Vass, vice president and cashier of the Riggs National Bank; John Poole, presi- cent, and Wilmer J. Waller, vice presi- dent of the Federal-American National Bank & Trust Co., and H. H. McKee, head of the National Capital Bank. ‘The Enterprise Serial Building Asso- ciation held its annual meeting last night, the following officers and direc- tors being elected: President, James E. Connelly; vice president, John T. Crowley; secretary, James F. Shea; treasurer, G. Percy Glue. ' Directors, George I. Borger, | imes A. Cahill, j Martin A. Cook, | Bernard R. Edwards, P. F. Hannan, Maurice Fitzgerald, Iph A. Judd, M. A. Keane, M. J. Keane, Edward T. Kehoe, Fred Kraus and P. T. Niland. The board elected William P. Nor- moyle and Bernard T. Fitzgerald as trustees for the year and G. Percy Mc- Glue' as attorney. The secretary’s re- port showed assets as of April 1, 1931, to be $1,321,303.56, an increase of $71,- 635.24 over last year. Over 7,000 new shares of stock were subscribed during 1930, the largest number of shares sold during any one year in the history of the association. The Enterprise has a record of 39 years of successful management, and now has over 1,150 members. Corby on Governing Board. At the recent special meeting of the members of the Washington Stock Ex- change Karl W. Corby was elected to the board of governors to fill the va- cancy caused by the death of George O. Walson. Mr. Corby is a partner in W. B. Hibbs & Co., having become affiliated with W. B. Hibbs and W. W. Spaid at the same time that J. Thil- man Hendrick became a partner. The firm has three exchange memberships, as Mr. Hibbs and Mr. Spaid have also had seats for years. Mr. Corby is a widely known Wash- ington business man. He was at one time very active in the management of the Corby Baking Co. but when that concern became a unit of the Con- tinental Baking Co., & national organi- zatlon, Mr. Corby decided to enter the brokerage field. He is a director in the Lanston Monotype Co. and several other important corporations, and be- came a member of the Washington Stock Exchange on May 3, 1929, Trading on D. C. Exchange. Trading on the Washington Stock Exchange today opened with Real Estate Mortgage & Guaranty preferred selling at This transaction was followed by three 25-share sales in Carpel Corpora- *, and Peoples Drug Stores Tegistered 103 in the first transfer since | the March sales were reported, showing & slight advance in business Federal-American Co. preferred sold 8t 95 and Federai-American Co. com- mon moved at 23. Washington Railway & ic changed hands at 98%. Bond trading was quiet and confined to Washington Gas - issues, following several days.of more then usual ac- tivity in local senior securities. Heard i Fidancial District. Directors of the Washington Loan & ‘Trust Co. terday declared the regular quarterly dividend of 3 per cent, payable ]“\\{ay‘ 1 to stockholders of record on Peoples Driig Stores, Inc., ‘today re- ported March sales as $1,447,658, against $1.432,014, an increase of $16,644. or 1.1 per cent. Sales for the first quarter totaled $4,241,478, compared with $4,027,543 in the first three months of 1930, a gain of $213,935, or 5.3 per cenit. While visiting here Montagu Norman, governor of thé Bank of England, has paid his respects to Secretary of State Stimson and is und<rstood to have out- lined his views on present world eco- nomic conditions. ‘The Riggs Bank Club will hold its apnual Spring dance at the Willard next Saturday evening, April 11. The committee has arranged a special pro- gram in addition to the dancing and an elaborate luncheon. Henry Shepherd, who has just joined the local office of Hemphill, Noyes & Co, 15 & native of Shepherdstown, W. Va, has lived here 10 .years and been connected with several local brokerage Dr, Stephen I. Miller, executive man- ager of National Association of Credit Men, asserts that the United States, in its responsibility as a creditor Nation, is morally and economically bound to make loans to other countries to aid in stabilizing foreign business, 28% 11% i) 109, 1 182% 2% 38 129% 150'%% NEW Low. Dividend 8% ADbitibi Pow & Paper 20% Addressogr Co 1.40.. 5% Adv Rumley (new).. % Ahumada Lead. . 89% Afr Reduction (t414) 6 Air Way Elec Appl.. 7 Alaska Juneau (40c) 7% Alleg Corp. 1321 Allled Ch & Dye (n6) 32%4 Allis Chalmers (3). . 15 Alpha Port Cemt (1). 17% Amerada Corp (2). .. 2 Am Agri Ch of Conn. 20 Am Agri Ch of Del 54% Am Bank Note (13).. 8 Am Beet Sugar pf... 32 Am Br Shoe (2 40) 106% Am Can (15) . 145 Am Canpf (7). 27 Am Car & Fary ( 74% Am Car & i\dy pf ( 28 AmChain2).... 3814 Am Chicle (+3 9 Am Encaustic (1)... 19 Am European Secur. 26% Am & For Power.... 74 Am & For Pw pf (8). 864 Am & For Pw pf (7). 65 Am & For Pow 2d pf. 6% Am Hawallan SS.... 47% Am Home Pr (4.20).. £3% Am lce (3). 17% Am International. 6 Am La Fr & Foam pf 100 20% Am Locomotive (2). 31 Am Mch & Fdy 1.40., 3% Am Mach & Metals. . 16% Am Metal Co. - 4 Am Mach & Met ctfs. 17 Am Na' Gas of (7) 45 Am Pow & Lt ($1) AmP&Ltpf A (4).. Am P & L pf A st (5) 15% Am Rad & St San (1) 2615 Am Roliing Mills 52% Am Safety Razor * Am Ship & Com. 37 Am Shipbuilding (5) 40% Am Sm & Ref (4) 23% Am Steel Fdy (3) 42% Am Sugar Ref (5). 7% Am Sumatra Tob 176% Am Tel & Tel (9) 104 Am Tobacco 16) 4 104% Am Tobacco B (16).. 52% 45% 109% 104% 1% 1T 62% 16% B1% 4% 12 12 B6% 152% 18 34% 18% 4% 63 5% 2% 487% 118% 5% 84 157% 102 45% 23 26 13% 78% 107 123% 185% 13% 21% 1% 69 4% 105 Am Type Fdy of (7). 53% Am Water Wks (3).. 101% Am Wat W 1st pf (6) 6% Am Woolen 21 Am Woolen pf. 415" Am Zine Lead & Sm.. 29% Anaconda Cop (1%). 13% Andes Copper. 10 Archer Daniels Mid. 49 Armour of Del pt (7) 214 Armour of Il A. 1% Armour of Ill B 21% Armour of Il pf. 10 Asso Apparel (32). 22 Asso Dry G (234).... 178% Atch To & S Fe (10). 102% Atch T & S Fe pf (5). 97 Atl Coast Line (110). 81 Atl Gulf & West Ind. 17% Atlantic Refining (1) 97 Atlas Powder pf (6). 8% Atlas Stores (nl). 1013% Auburn Auto (f4). 1% Austin Nichols 1 Autosales... . 3 Aviation Corp of Dal 20% Baldwin Loco (1%).. 684 Balto & Ohlo (5).... 721 Balto & Ohio pf (4).. 102 Bamberger pf (8%). 56% Bang & Aroos (3%). 10% Barnsdall (A) (1), 24% Bayuk Cigar (3). 65 Beatri 50 78 Bel N Ry pt pf 15.51. 167 Bendix Aviation (1). 324 Best & Co (2).. 45% Bethlehem Steel (6). 2¢ Blaw-Knox (1%).. 90 Bloomingdale pf (7). 20% Bohn Alum & Br1%. 1% Booth Fisheri 67% Borden Co (k3. 20% Borg. 58% Bklyn-Man Tr (4) 85% Bklyn Man Tr pf (6). 52 Bklyn & Qu T pf (5). 5% BrunsTer &Ry 8 14% Bucyrus (1 25 Bucyruscvpf (2%) 4 Budd (EG) Mfg. 9 Budd Wheel (1). 11% Bullard Co... 15% Burns Bros (A) 22 Burns Bros cum pf.. 1% Butte Copper & Zinc. 12% Butterick Co. 37% Byers (A M: 97% Byers (A M) pf (T).. 36% Calif Packing (4).... & Calumet & Hecla. 29% Canada Dry G A (3). 60 Canada South (3). 38% Can Pacific (23%).... 9% Capital Admin A. 81% Case (J I) (8). 111 Case (JI) pf (7) 2% Cavanaugh-Dobbi 5% Celotex Co. oo 223 Celotex Co pi 22% Cerro de Pasc 2% Certain-teed Prod. 12 Checker Cab Mfg 89% Ches & Ohilo (2%)... 40 Chesapeake Corp (3) > 9% Chi MII St P& P pf.. 33 Chi& Northwest (4). 914 Chi PAeu Tool...... 28% Chi Pneu Tool pf.... 47% Chi R 1 & Pacific (5). 84 ChiRI&Ppt(6). 94 ChiRI&Pacpt (7). 20 Chi Yellow Cab (3).. 25% Childs Co (2.40)..... 26 Chile Copper (2).... 16% Chrysler Corp (1)... 34% City Ice&Fuel (3.60). 24% Cluett-Peabody (3).. 50% Coca-Cola A (3)..... 9 Collins & Alkm 21 Colo Fuel & Iron ( 38 Colo & South (3) 33% Col Gas & El (2).. 100% Col Gas & El pf A (6) 7% Col Graphoph (a%). 78% Columb Carbon (5).. 234 Comcl Credit A (3).. 25 Comm Inv Trust (2). 15% Comm Solvents (1).. 8 Cmwlith & Sou (60c). 913% Cmwith & Sou pf (6) 32 Conde Nast Pub (2).. 6% Congoleum-Nairn... 641 Consol Cigar pf (1) .. 54 Consol Cig pr pf 6%. 7% Consolidated Film. .. 15% Consol Film pf (2).. 8214 Consol Gas N ¥ (4).. 101% Con Gas of NY pt(5) % Consol Textile. 6 Container Corp 17 Conti Baking A. 2% Contl Baking B. 59 Contl Baking pf 47 Contl Can (2%) 10% Contl Dia Fibre (1). 41 Contl Insur (2.40) 2 Contl Motors. #% Contl Oll of Del. 7% Cont Shares. 76ys Corn Prod (+334). 146% Corn Prod pf (7).... 8K COtY I86. .cvoconoes. 27 Cream of Wht (2% 14% Crex Carpet........ 31% Crown C&P pf (2.70) 48 Cruclble Steel....... 96 Crucible Steel pf (1) 3 Cuban-Amer Sugar.. 1% Cuba Cane Prod..... 41 Cudahy Packing (4). 113% Curtis Publish pf (1) 2% Curtiss Wright Corp 3% Curtiss WrCorp A.. 132% Drlaware & Hud (9). 74 Del Lacka & Wn (4). 27% Denver & R G W pt., 14% Diamond Match..... 24% Olamond Mtch pf 13 §% Dome Mines (1), ... €1% Drug Corp (4)...... 83 Dupont de Nem (4). . 118% Du P de N deb pf (6) 143% Eastman Kodak (18) 7% Eastern Roll Mills 18% Eaton Axie (160). 3% Eitington-Schild. 86% Eltington-Schild pt.. 60% lec Auto Lite (6) war 52 1i 3 35 S-2 SR D e o e wE~ [OPS =TT - Juroes B 26% Caterpillar Trac (t4) 11 » s e FTOPRUIRINS . 101 < PT T URUL TP TUP LS VTUTIT VTP PRV ST ST Add 00. High. 8% 37% 20% THE E YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. % 122% 168% 10 18% k 64 [ % - 2% Loft In 25% Missouri Pact! 8414 Stock and Dividend Rate. Elec Pwr & Lt (1)... 159 Blec Pow & Lt pf (6) Elec Pow & Lt pf (7) I Endicott-John (5).., Eng Pub Sv (2.40) Eq Office Bldg (2%). Erie RR 15t pf (4). Erie RR 2d pf (4)... Exchange Buf (1%).100s Fairbanks Co pt Fed Mot Truck ( Fed Wat Sv A (2.40). Fid Ph Fire In (2.60) Firest T & R pf (6).. First Nat Strs (2%). Fisk Rubber. . Fisk Rubber 1st pf. . 1208 Foster Wheeler (2).. 14 Sales— Add 00. Gamewell Co (6). Gardner Motor. Gen Am Tank Car(4) Gen Asphalt (3) General Baking Cy Gen Cigar (4) Gen Elec (1.60)... ... Gen Elec spec (60c) . Gen Focd Corp (3).. Gen G & EIl A (e30c). Gen G & El cv pf (8). Gen Mills (3)......c Gen Mills pf (6) Gen Motors (3). Gen Motors pf (5) Gen Outdoor Adv. Gon Ptg Ink (2%) Gen Ptg Ink pf (8).. Gen Pub Sv b§% stk. Gen Ry Signal (5) Gen Realty & Utll Gen R & Ut pf (e6).. Gen Refractories (4) Gen Theater Equip. . Gillette Suf Razor.. Gillette Saf R pf (5). e Goodrich B F pf (7). Goodyear Tire&R(3) Goodyear 1st pf (7).. Gotham Silk Hoslery Graham-Paige...... Granby Consol (2).. Grand 811 Strs (h1).. Grand Union. ......e Grand Union pf (3). Grt North pf (6).... Grt Nor Ore (2)..... Grt Western Sugar. Grizsby Grunow.... Gulf Mobile & North. Hacken Wat pf A 1% Hahn Dept Stores. ... Hahn Dpt St pf (6%) Hall (WF) Pr Co (2) Hanna pf (T)....ooe. Harb Walk Ref (2). Hartman Corp (B).. Hayes Body........ Hercules Powd (3).. Hershey Choc (6)... Hersh Choc pf (46).. Holland Furn (12%) Hollander Sons. . .... Houdaille Hershey. . Household Fin pt (4) Houston O11, Houston Ofl (new Howe Sound (3) - - 3 °uw—ua—;nn.—»a»uwn JULSITS - JRTPION -9 PP PP PR AUV STV IPAPSUNE £ - P PR PTVS -] PROPN.- SOy Ingersoll Rand (16). Insur Shrs Md(40c). Interb Rap Transit.. Interlake Iron (60c). Int Agricultural.... Int Bus Mach (n6).. Int Carriers (373%¢) Int Cement (4). Int Combustion. . Int Comb Eng pf. Int Harvester (23%).. Int Hydro El A (e2). Int Match pf (4).... Int Merc Marine (2). Int Nickel (80¢) Int Paper & Pow C.. Int Pap & P pf (7) Int Salt (3)....... Int Tel & Tel (2).... Inter Dept Strs (2). Investors Equity . Island Cr Coal (4> Johns-Manville (3).. Johns-Manv pf (7).. 10 Jones & Laug pf (7). 20s KC P&L 1stpt B (6) 508 Kans City Sou (6)... 1 arstadt(R) (a1.03) K'mann Dept Strs (1) Kayser Jullus (2%). Kelvinator Corp Kelly-Spring Tire Kelly-Spr T 6% pf 1ly-Spr T 8% bf.. Hayes (2).... PR ° Kinney (G R) pf (8). 20s Kolster Radio 16 Kolster Radlo ¢ Kre Kresge (SS) pf (7). Kresge Dept St pf. Kreuger & T (al.60). Kroger Groc&Bak(1) Lambert Co (8)..... }:e Rubber & T! Lima Locomot (m2). Liquid Carbonic (3) Loew's Inc (3). Loose-Wiles (12.80). Lorillard (P) Co...., Lorillard (P) pf (7)« Louis & Nash (7)., Ludlum Steel....... McCrory Stores A(2) Melntyre Pore M (1) McKeespt Tin P(15). McKesson & Rob (1) McKes&Rob pf(3%). McLellan Stores. . . . McLellan St pf A (6) Mack Trucks (3).... Macy (R H)&Co(n3). Manati Sugar....... Man Elev mod g (d5) » 8 W RN ANON NN RSN 0 S S B SN PR OEN SN o ORI AN TR BN S Marine Mid (1.20). Market St Ry pr pf.« Marmon Motor Car.. Marshall Fleld (2%) Mathieson Alkall (2) May Dept Strs (2%). Maytag Co. . Maytag Co pf (3) Melville Shoe (2) Met-Gold pf (1.89).. Mexican Seaboard Miami Copper Mid Continent Midland Steel (3) Midland Steel pf Mo Kan & Tex; - S ‘Missour! Pac pf (6) . Mo Kan & Tex pf (7) Montgomery Ward.. a Sw Mfg... Mullins Mfg pf (1).. Munsingwear (3) Murray Corp. ... Myer (F E) & Br (2). .. Copper (1).. 26 1 N Y Central (6)..... 7 10! Hoh 524 0% 9 10% 104% VENING STAR, WASHINGTON, D. C., 634 125 122 116% 367 (uontinued on Page 142 _ . ] same course was followed by Vanadium, STOCK PRIGES DROP IN QUIET MARKET Bear Traders Showing No Inclination to Take in Contracts. BY GEORGE T. HUGHES. Bpecial Dispatch to The Star. NEW YORK, April 9.—Stocks drifted lower in quiet trading again in today's market. There was no outstanding weakness, but simply a sagging tendency, with only here and there an exception, | ::d that generally in an unimportant sue. The belief in the Street is that the short interest at present is of record- breaking proportions and therefore Wednesday’s inoderate recovery was hailed as a sign of a long overduve covering movement. Opening prices to- day, however, showed only irregular changes, with the bear faction in no hurry to take in their commitments, and by noon the list was receding once more, There was no news of importance calculated to influence the market. Copper was quoted at 93, cents, against the recent low of 913 cents, but demand for the metal was still slow. Copper stocks were uninfluenced by the better tone in the commodity market. Traders were paying more attention to the ac- tion of the bond market than to any trade advices and so far as domestic securities were concerned bonds of the second grade were in as much disfavor as stocks. Railroad shares recorded fresh losses in the early trading. Atchison went to a new low for the year and so did St. Louis-San Francisco and Southern Rail- way. Both classes of Missouri Pacific sold at new lows, influenced by the heaviness in the bonds of that road.| Rock Island was another weak carrier | issue. Rallies in this part of the list | were infrequent and unconvincing. Of the standard industrials United States Steel held better than the aver- age, which was more a reflection of the large short interest than of any change in the situation. Probably it would take only a comparatively small dem- onstration to dislodge the smaller shorts in the stock, but it would not be so easy to frighten the large operators. | Bethlehem Steel fluctuated more or less | with United States Steel. General | Motors was firm around the preceding close and Consolidated Gas only frac- tionally lower. Decline in Auburn. | The always interesting Auburn Auto | distinguished itself by declining 10 points during the first two hours of | business, but the market paid no more | attention to the downward movement in that erratic stock than it did to its | advances earlier in the weck. Auburn'’s | earnings statement for the quarter | ending February 28 is expected this week. i Among the minor incidents were a run-up in Servel, that looked like the | result of pool activity, and heavy sell- | ing of Radio, that might have been real | liquidation. = Beechnut Packing _ was | strong for & time, but California Pack- ing, action on the dividend of which | was to be taken after the close, was | weak. | After opening higher under an accu- mulation of buying orders from both short interests and new long positions, the market was depressed with a new burst of liquidation. This carried prices below their previous close United States Steel was a shade | higher at the start, but soon dropped below 137 to a fractional decline. The Bethlehem and other steel stocks. Vol- | ume was not heavy, trading in the first | half hour amounting to 300,000 shares, { or the same as on Wednesday. Cali| money renewed unchanged at 11 per cent. The weakest group was the carriers. Atchison and Southern Rallway both | made new lows, with losses of more than 2 poinfe. Union Pacific was off | nearly 2 points, Others to decline were Baltimore & Ohio, Canadian Pacific, | Erie, New York Central, Rock Island | and Tilinols Central. Active industrials to decline were Air Reduction, Byers Pipe, Columbian Carbon, J. I. Case, Fox m, Radio, Radio-Keith, Columbia Graphophone and Worthington Pump. Store stocks were higher, among them | Woolworth, Sears-Roebuck and Mont- | gomery Ward. First Mortgage Loan Applications Invited at 5/5% Glover & Flather 1508 H St. N.W. National 1753 C V E:SHOULD like to offer our facilities for the vestment funds . . . For more than forty years the H. L. Rust Company has been making first trust loans on im- proved properties Columbia and adjac urbs. —CONVENIENT tions—PROFITABLE in the highest Investors have found the notes SAFE in the abundance of the security THURSDAY, APRIL 9, 1931. UTILITY INDUSTRY NOW THIRD IN U.S. Electricity and Gds Firms Reveal Rapid Growth in Recent Years. Special Dispatch to The Star. CHICAGO, April 9.—Public utilitiesy comprsing electricity and gas compa- nies, with a capital investment of $17,- 500,000,000, rank as the third largest in- Gustry in the United States, it is de- clared in a booklet just issued by the Central Public Service Corporation. The booklet contains a comprehensive review of the gas and electricity industry as & whole, together with a forecast of what might be anticipated in the future, and tells the story of the growth of the Central Public Service System. It is pointed out that if all the pub- lic service industries including railroads, telegraph and telephone, and street rail- ways were included in the compilation their capital investment would be even greater than the $57,000,000,000 credited to agriculture, which is now the largest industry. “Gas and electricity,” it is stated, “‘are twin services, supplementing each other in the home, the workshop and the factory, and they are now an industry in themselves. They comprise the public utility industry.” Approximately 42,000,000 customers are using gas and electricity and more than 1,000,000 customers are being added each year. Electric light and power has grown from a capi- tal investment of less than a half bil- lion dollars in 1900 to $11,800,000,000 at ;r:‘ enld of ‘19130. k;\nnuhcmwd and tural gas bring the total $17.500,000,000 ném-t b The Central Public Service System, it is pointed out, has a total invested capi- tal of more than $323,000,000, ranking it as & major unit of the industry, despite the fact that it was only formed six years ago. More than 100 separate op- erating units of varying size are owned or controiled. Subsidiaries operate in 24 States in the United States, two provinces in Canada, and to a more lim- ited degree in the Philippines, the West Indies, the Cana Islands Island of M: llnrcar,y soanthe REAL ESTATE LOAfiS Made at Low Interest Rates T‘YLER & RUTHERFORD ations _invited om high-eclas: .:l“l "lllul dw;l’l'lnll. nnl:u: n well located busimess propertios; for 3. 5 or 10 years, if so desis e 1520 K St. N.W. National 0475 T Money to Loan ecured by first deed o . i T e I S Joseph I. Weller g0 wa: Authorized Service Carter Carburetors & Clum Switches MILLER-DUDLEY CO. 1716 14th St. N.W. North 1583-1 The Shoreham Building The Last Word in Office Facility mHE skill that planned this building has had practical experience in office requirements. For that reason you'll find not only many im- provements and modern features of arrangement and equipment, but an absence of the faults common to most build- ings. Comfort, convenience and LUXURY, coupled with efficient service are what you rent and get in the Shoreham Building. How these features will work into your requirements will be our pleasure to dem- onstrate. MSKEEVER £ GOS$S$ 1. Representative of the Owners Shereham Investment C y Rental Office, Room 521 15th at H National 5643 placing of your in- in the District of ent Maryland Sub- in their denomina- interest yield consistent with a conservative investment. - FIRST MORTGAGE NOTES 6% H. L. Rust Company 1001 15th Street Nat’l. 8100 FINANCIAL. {TEXTILE BUSINESS IN BETTER VOLUME Merchants Declared Satisfied With Extent of Trade During Holiday. BY BRADLEY W. TRENT. Special Dispatch o The Sta: NEW YORK, April Easter busi- ness in textiles was fair to good in the populous centers of the country, accord- ing to trade reports received by large wholesale houses and distributors today. Merchants generally have expressed themselves as satisfied with sales in women’s wear, silk underclothing and hosiery. Weather was unfavorable dur- ing part of the past week, causing some slackening in demand for merchandise in the local wholesale market, but & feature of the trade was the continued call for men’s and boys' wear. There were many reports from retailers of sold-out s%ocks in children’s clothes. A resumption of activity is looked for this week, especially in women's coats, y With new lines at lower prices being de- vel 'd. Jackets with many types of frocks continue pouplar. In millinery, rough straws are expected to be in favor. The improvement in cotton textiles anticipated at the turn of the year is being realized, according to the Asso- A—-13 clation of Cotton Textile Merchants of New York, which announced today that its March figures covering production, sales’ and shipments of cotton cloths wmudhal-undmnw:ek. me it was said, “will interest and to those communities in which the tex- tile industry is an important asset.” no’trhe d;mm hx:’!r cotton textiles has as yet reac normal rtiol but the improvement has been 50 con- sistent during the first quarter of the ym‘u.-nrn'v. preapeez‘t; for future better- men! disting encouraging. One favorable factor is the maintenance of a low rate of prod: despite the avalanche of orders during January and February. Producers ap- parently have decided to adhere to a permanent equalization of output with demand, in spite of prevailing optimism. Sales in practically every division of the cotton cloths market ~ during March have registered satisfactory increases. Prices are firm and stocks have been reduced to tite lowest point recorded for years. Mills in both North and South are well provided with orders, and are re- ported to be running virtual ‘There has been a good demand l;;' England mills for staple cot- goods is ascribed to greater activity in the automobile industry and to L'gflsk demand for sheetings and similar goods. As the situation stands today, the improvement in the cotton textile in- dustry continues to run ahead of the upturn in other industries because of its excellent statistical position. (Copyright. Private Wires for Convenience PR!VATE wires connect the 37 branch offices of FENNER & BEANE with the major security and commodity markets of the country. As clearing members of the New York Stock Exchange, we offer a brokerage service which is complete. 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