Evening Star Newspaper, April 23, 1931, Page 13

FINANCIAL NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. FLEMING HONORED AT BANK PARLEY Reserve City Bankers Elect Head of Riggs Director for Two-Year Term. BY EDWARD C. STONE. bankers, who attended f the Associa- nkers. at Rich- following the Weshington the annual conventio: ticn of Reserve City E mond, returned v election of officers. 0. Howard Wolfe of Philadelphia was clected president, succeeding Guy Emerscn, Ne York City; H. Lane Young of Atlanta, . was made vice ident and Clark G. Mitchell of Dénver was elected t V. Flem- ing, president. m‘;y National, this city; dJohn H. Hogan of Chicag>, Harris C. Kirk of San Francisco and Leslie A. Thornton of Memphis were serve two-y Denver W place for the 19 bankers are mos Richmond_sessi Marshall Hotel parts of the country esp: hjoyed e trips to Charlottesville, Williams- burg, Jamestown and Westover. Craig B. Hazlewood, former president of the American Bankers' Association, was among the clcsi peakers, dis: cussing “A De am W.th Re- oct to Sect es TR wae the @ twentieth annual conventicn, and about 250 bank- ers from ail parts of the United States Were present. The membership in the assoclation is very limited and it will be highly gratifying to the local financial district that a Washington banker was placed on the directcrate. Savings Bank Conference Here. The eleventh annual conference of the National Association of Mutual Sav- ings Banks will be held in the Hotel Mayflower May 20-22, inclusive. Henry Bruere, president of the Bowery Sav- ings Bank, New York, will address the conference at its opening session, when delegates representing $9,500,000.000 of deposits and 12,575,000 depositors will gather. N Other speakers will be Julius H. Barnes, chairman of the Chamber of Commerce of the United States, who i to discuss “Capital and Its Relation in Industry to Mutual Savings Banks" Matthew Woll, vice president of the American Federation of Labor, who will speak on “Labor and the Savings Banks,” and Rome C, Stephenson, pre: ident of the American Bankers’ Asco- ciation and a well known savings bank- er of South Bend, Ind.. who is to com- plete the day's program. On May 21 Dr. Payson Smith, com- missioner of education in M chu- seits, and Dr. George M. Wiley, assist- ant commissioner of education in New York, will speak on “Education and the Use of Money” and “The Social Values fh Training for Economic Citizenship” as applied to American schools. Louis T. McFadden, chairman of the House Committee on Banking and Currency, is to be the guest of honor at a lunch- eon given by the association that day. ©On ‘the concluding day representative savings bankers from the various States will deal with problems affecting their operation and investments. Daylight Saving Starts Monday. All the local brokerage houses sta:t their tickers an hour earlier next Menday when the daylight saving schedule for the Summer is adopted in New York. Brokers and their army of clerks will have to get up a bit earlier in the morning in order to get down town in time to look over the morning financial information sent out of New York, digest it, and be ready for the starting of the tape and the arrival of early customers. The New York Stock Market and the other important markets in New York will open at 9 instead of 10 and close at 2 instead of 3 o'clock in the afternoon. Trading Active on Exchange. On the Washington Stock Exch: today Capi tion maintained better tone 1€t y sh hands at 33%. Mergenthaler Linotype gained during the session, opening at 80'. and closing at 801, on a 60-share nover. vy & Electric preferred 98 for 102 commo 2 3 g es preferrcd at 1 Two banks stocks appeared o board, five sha of District t g at 203 and 10 shares of National s & Trust at 448. Hunton Again Heads R, F & P. . Hazlewood. med directors to as the meeting convention. Local enthusiastic over t. the otk People sa THE EVENING Note—All stock are sold in one hundred share lots excepting those designated by the letter s (80s) (250s), which shows those stocks were sold in odd lots. Individual sales compiled to noon—complete in 5:30 Edition. Sales- Add 00 High Prev fieh 14% 36 2315 32% Kl 1095 10% 15% K1y 124 5o 59 424 66 9 42 5814 102% 42% 4% 11'4 3134 11 48 60 10814 Low 110 104 1931 St Divid 6% Abitib & Abitibt lend Rate. tock and Pow & Paper P& Ppt (8). Abraham 1614 Adams 315 Adams 214 Adam 3% Ahumag 2 Afr Red Air v Alaska J 615 Albany 71y Allex Corp. 341y Alles Cp $30 w I 1illis (2). ia Lead uction (t414) Slec Appl. . uneau (40c) Wrap Paper. 5. 1 Alleg Cp $40 ww 5% 182% 130% Alljed Ch & Dye (n6) Allis Chalmbers (2). Alpha P ort Cemt (1), Amal Les m Ba Banis 2 Bee Am Pio 454 Am BrBE Am Can 's Am Car AmCl k Note (13). ote pf (3) ¢ Sugar... t Sugar pf. wn Bov Elec. (15).. & Fdry (3).. ain2). 814 Am Chicl «13) i Am Colortype (1. Am Comel Alcohol 26% Am & 4 Am&F 814 Am & F 613 Am Haw 1% Am Hide 10'5 Am Hid 77 Am Hon 3% Am lce 18:(1). - » in Secur, r Pw pf (6). or Pow 2d pf. iian SS.... & Leather. . o & Leath pf. me Pr (4.20).. 3).. 16'« Am International.. ) Am Loc Am Loc omotive (2).. omot pf (7). Am Mch & Fdy 1.40.. 31 A Mach & Metals. Metal Co. m Nat Ga 441 Am Pow & Lt (21)... 947y Am Pow & Lt pt (6). 80 AmP& L pf A st (5) 15'% Am Rad & St San (1) 52 Am Rolling Mills. .. "4 Am Safety Razor (5) 619 Am ating 86% Am Shipbuilding (5) 40% Am Sm & Ref (4).... 9813 Am Sm & R 2d pf (6) 37 Am Snu fr (13%). 1% Am Solv & Chem. .. 4% Am Solv & Chem pf. 18% Am Steel Fdy (3) . 37 42% Am Sug: 96 Am Sug 714 Am Surr Am Steel F Am Stores (12%). ar Ref (5)... ar Ref pf (7) natra Tob. ... 1764 Am Tel & Tel (9).... Am Tobacco (16).... 104% Am Tcbacco B (16).. 53% Am Water WKs (3).. 54% Am Wat Wks cfs (3) 67 Am Woolen. 101 166 % 103 21 Am Woolen pt.... 4% Am Zinc Lead & Sm.. 29% Anaconda Cop (1%).. 22 Anaconda W & C (1) 26 10 A 38 Armour 2 Armour 1% Armour 16 Armour Anchor Cap (2.40)... r Daniels Mid. Archer-Dan pf (7). of Del pt (7) of Il A of Il B of Iil pt. 3% Arnold Constable T Asso Apparel (¢ 21% As 85 As80D( Afch To &9 2 o Dry G (2% 3 1stpf (6).. &S Fe (10). Line (10). 15% Atlantic Refining (1) 5% Atlas Stores (nl1) 101's Auburn Auto (f4). 1’4 Austin 2% Autosa 3" Avlation Corp af Dal 18% Raldwin Loco (1%). 10 ¢ 1 1 60 . 208 108 20s . 408 3 pf (7).1008 110 1 43 3 50 1104 1 -8 131 186 4 124 1 -1 1808 102 4 44 3G 17 14 12 8813 Baldwin Loco pf (7).280s 63% ¥ 1to & Oh{o (5).... 565 Bang & Aroos (3%). %« Barke Barnsda 11 (A) (1), Beatrice Cream (4) Be rice Cr pf (7). ech-Nut Pkg (3).. iding-Hemineway vt pt viat Bethlehem St pf (7). 22% 20% Bohn Al Blaw-Knox (1%) um & EBr 1% . 7 Booth Fish sty 6714 Borden Co (k3). 20% Borg, W arner (1) 16'% briges Mfg (t1%)... 1644 Briggs & Strat (2).. 58% & Bklyn & 52 EBklyn& Bklyn U %13 Bruns-k 14% Bucyrus Bklyn-Man Tr (4). Qu T pf ( nion Gas (5) 1) cyrus cv p! Budd (E G) Mfg §1% Budd Wheel (1) 11% Bullard C ova Watch (1%). " % % 4915 104 Close. Close. 10014 20% 61% 813 561y 107 Prev 674 100 3 ~Prev. 1931 High, 'Low. 30 STAR, WA Stock and Bales— Dividend Rate. Contl Baking A. Cont] Baking B..... Contl Baking pf (8)., Contl Can (2%) Contl Dia Fibre Contl Insur (2.40) Contl Motaors. . Contl Oll of Del. Cont Shares. Corn Prod (13%). Coty Inc. . Cream of W Cr Cork & Seal 2.40. . Crown Zellerback. . . Cruefble Steel. Cuba Cane Prod. Cuba Co = Cuban-Amer Sugar. . Cuban Am Sugar pf. 40s Cuba RRpf (6).....1008 Cudahy Packing (4). 2 Curtls Publish (17).. 3 Curtiss Wright Corp. Curtiss Wr Corp A.. stler Hammer. Davison Chemieal. .. Deere & Co pf (1.40)., Del Lacka & Wn (4). Delaware & Hud (9). Denver & RG W pt.. Devoe & Ray (1.20 Devoe & It 18t pf ( Diamond Match..... Dtamond Mtch pf 13 Dome Mines (1).. Domn Stores (1.20).. Drug Corp (4) Dunhill Internat Dupont de Nem (4).. 38 tern Roll Mills. . astman Kodak (18) tiaton Axle (160)... itington-Schild. ... lec Auto Lite (6) lec Boat. ... c Pwr & Lt (1)... Pow & Lt pf (6) lec Pow & Lt pt (7) lec Stor Bat (5). 21k Horn ¢ Smerson & 16% 2 7 5% 124 42 3 % 1323 18t pf (4) 1 2Apf (4)..e ureka Vac C! Fed Lt & Tr pf (6).. Fed Wat Sv A (2.40). Fid Ph Fire In (2.60) irest T & R pf (6).. st Nat Strs (2%). :bber 1st bistpfe ollansbee Bros oster Wheeler (2).. "oundation Co. . ank Car(4) halt (3) 1 Baking Ce Clec spec (60c) . Focd Corp (3)... en G & E1 A (e30¢). Gen G & El cv pt (). 8(3)...00 Motors pf (5). Gen Outdoor Adv. Gen Pte Ink (234)... Gen Pub Sv b8% stk. Gen Ry Signal (5)... Gen Realty & Utll. .. Gen R & Ut pf (e6) Gen Refractories (4) & Gen Theater Equip.. Gilllette Saf nbel Bros Glidden Co. Gobel (Adolf). Gold Dust (23%). Goodrich (B F) 3 rT1 Grand Union,... Grand Union'bt (3). Cranite City 8t (3) Grant (W T) (1) Grt North pf (5). Grt Nor Ore (2)... Grt We: rn Sugar. Grigsby G Gulf States Hahn Dept Store: Il (WF) Pr Co n Watch (11.95 Hanna pf (7). Harb Walk Ref (2).. Hartman Corp (B) eap (2) Hershey Choc (5) . Hersh Choc pf (16).. Hollander Sons. . Holland Furn (12%) mestake Min (17). Add 00. High. Low. Close. Close. 15% 56 56% 1% 40% HINGTON, D. C, THURSDAY, Prev. 15% 57 ! | else. i sive | th | New Jes S| | new | time | us | with | culati | creased | is cutstanding in | give it an act STOCKS DROP AGAIN AFTER BRIEF RALLY Market Turns Sharply Down- | ward to New Low Ground for Slump. Speclal Dispatch to The Star. NEW YORK, April ness developed on the Stock Exchange again today and the market turned sharply downward to new low ground for the movement, with both rails and | industrials under pressur For an hour or two there was a par- tial rally, due largely to short covering, but it did not last, and early in ti afternoon selling was resumed in vol- ume. Opening prices showed fresh declin: and new lows in many import is8uc but after a half hour of business a covering movement developed and the | whole list recovered 2 to 3 points for rd stocks and more for the spe 5. This phase turn followed by renewed pre the appearance of buoyancy wa Opinion_in_ the was_strongly a rally was in order, simply b cause the decline had so far and had lasted s ong. L not arg that there had been any change in ¢ side conditions, but that the worst had been discovered for the present at le It was on this theory that the buying was conducted. Among the new lows e in the oil list, in ning, Barnsdall, Sta andard « In es Re Phillips Petroleum. New York : went through their previ 3 points the two last named rallied when t got under way, but Ba more & Ohio, which ha low in the fi weak, dropping belo out meeting suppo; inited States more_than s up at one on the day, but met offerings on the advance and reacted. It was predicted in ally well informed that the dividend would declared week’s meeting, but this opinic market little good Acute weakness in the shares probably had as much checking the rally as Selling in Fox Film was and the stock broke bad I y ing do e other amusement Cemen ice w clined more or liquidation in_Ame Telegraph, For a time Public Service of New Jersey was higher and so was Consolida as, but could hold the gains. (Copyright BANK OF ENGLAND. LONDON, April 23 (& tatement of the Ba shows the following change: ‘Tctal reserve in: ased 6,4 decreased 5919,000; bullion inc 537.000; other securities de- crez 3,746,000; deposits i crea 5,492,000; deposits . creased 6.173.000; ni reserve in- 6.471,000; government securities decreased 3,385,000 The proportion of the bank’s reserve to liability is 56.02 per cent, compared vith 49.49 a week ag Rate of discount 3 per cent. 1921) The weekly of England pound: 000: cir- ng is to be learned about the rating of an investment security from the market pr The current quota- tion, assuming that the stock or bond sufficient amount to ve market, represents the ppraisal of its quality, and public is not an infallible guide it while thi is helpful. Generally quotation in s the n dol- | rtage of market, is better to exp: d rather than lars; that is to say, in perc return to the investor at the For example, as this is written, the best grade of corporate securities ref m 41, to 4% per cent if they are taxable and from 33, to 4!, per cent if they arg non-taxable. Whenever there is any wide variation from these limits it either requires _explanation or casts some doubt on the rating Now, the price level for investment securities varies inversely with the money rate. If money commands a rn APRIL | before. | the ; schedule of 85,000 cars; 34,000 employ- 23, 1931, CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. By the Assoclated Press. NEW YORK, April 23.—The following is a summary of important corporation news prepared by the Standard Statistics Co., Inc, New York, for the Associated Pre News Trend. Railroad Teports of net operating income for March, while still too few give basis for useful conclusions, in-| dicate a comparison with March of 1930 | considerably better than the comparison | made by with the year | The first seven roads reporting showed an aggregate net operating - come of 64 per cent under last year, It is believed, however, that subsequent reports have shown a greater drop, al- though not_as great as the aggregate decline for February. Domestic production of small cigar- ettes in March showed an increase over March, 1930, of about 7 per cent, ac- cording_to Teports of the Bureau of Internal Revenue, based on stamp taxes. Such a gain, if in response to greater demand, must be considered en- couraging, Reports of corporation 1lts for March quarter are in large numbers, the maj paring unfavorably with the s ter of 1930. Exceptio higher earnings Cheapeake Corporation Rust Proof. Te com- include Parker | The Companies. ny Corporation ter comm share earnings, 9 cents. Ame 10 per ce : year ago. | Chesapeake Corpora March quar- | ter common share earnings, 93 cents | ents. 1 cent vs, running about | h gross earn- 4.5 per cent; r cent arch quarter 21 cents vs. 30 | Dunhill International 1930 common share earnings, 14 cents vs. $5.47 Fmsco Derrick & Edquipment profit estimated for first quarter ing capital position reported strong foreign orders said to assure protracted operations for machinery division; ac- quisition discussions with Youngstown Sheet & Tube subsidiary indefinitely deferred Hollinger Consolidated Gold Mines, March _quarter _common_share ; ings, 20 cents against 22 cents be- income tax in 1930 e Corporation March quarter hare earnings, 25 cents against ts. Belt Co. March quarter common earnings, 25 cents against 82 Hudson Po sales off 13.6 off 10 per cent off 1.5 per cer er first quarter per cent; 12 first quarter 12 months, up "Parker Rust Proof March quarter on share earnings, $2.14 against le first quarter sales up 5| per cent; export sales up 67 per cent. United States Hoffman Machinery quarter deficit, $76,432 against n income $26,380, equal to 12 cents common share in 1930. Westinghouse Air B e president tates no change in company’s dividend | rate is contemplated. | . Youngstown Sheet & Tube—Acquisi- i discussions with Emsco Derrick & Equipment indefinitely deferred. Baltimo: & Ohi Railroad first quarter deficit reported around $1,% 700,000. General ~ Motors-Chevrolet _plants placed on full 5.-day week schedule duction reported will exceed month’ ees on payrol Hercules Powder March quarter com- mon share earnings, 3 cents vs, 88 cents. Sceman Bros. common share earn- ings, nine months to March 31, $331 Bros. _Pictures—Acquisition negotiations for Northern New Jersey houses for Fox theaters denied; to re- lease 70 features during year. Atlantic Coast Line Railroad—Around $6,500,000 freight revenue esiimated lost in 1930 because of truck competi- | tion; experimental rate cuts met by motor _trucks. Atlantic Refining subsidiary teduces ! crude oil price 5 to 20 cents a bariel in Pettus and Refugia field: Canadian Car & Foundry.—President states common and preferred dividends | assured for some time to come. The Fair February and March profits NORTH AMERICAN TRUST SHARES The Leading Fixed Trust An Outstanding Group of Common Stocks being received } March quar- | | FINANCIAL. higher, sales off. International Paper & Power.—Pres- ident states that if company meets $! a ton reduction in newsprint compan; gross loss would be about $3,500,000 | annually should demand remain un- changed. | Kirby Lumber Co. 1930 deficit $237,- | 734, against net income $619.801, equal to_$12.40 common share in 1929, | New York, Ontario & Western Rail- | way March net operating income $280,- | 313, against operating income $15,534 Northern American Aviation, sub- sidiary Eastern Air Transport, March airmail volume of 87.227 pounds sets new record, compares with 48,739 year ago. Pennsylvania-Dixie Cement unfilled orders about the same as year ag0; selling and administrative expenses cu Standard Oil (N to cut bunker | fuel oil price at Boston, Baltimore and Norfolk 10 cents a barrel H Sun Oil current crude oil output | around 25.000 barrels daily: potential | daily production, 100,000 barrels Swedish Match Corporation—15 per cent dividend declared 1930, same | as paid in 1929; 1930 profits reported | at $20,250,000. i Third Avenue Railway—Committee of | ‘Whole of New York City Board of Es- timates alleges $978.078 is owed to city; court settlement may be necessary. Trans-Lux Daylight Picture Screen settles litigation with News Protection Corporation; new company to be formed to consolidate movie ticker business of both compantes. United Stores Corporation $6 pre- ferred share earnings, six months to December 31, $2.85. ‘Western Dairy Products March quar- | ter net income, before subsidiaries’ pre- | ferred dividends, $205,432, vs. $65,112. Regular air service between Nanking ld lepmg, China, has been inaugu- | ated | due to operating economies; current Money to Loan | | Secured by first deed of trust on real estate Prevailing interest and Joseph I. Weller ¢ Ability to Draw Your Checks —on such a bank as this—means en- hanced pre:tige and business standing. ] The Metropolitan is, and has been for over a century, one of the Capital's most forceful busi- ness builders. National etropolitan BANK Fifteenth Street Opposite U. S. Treasury PROPERTY Apartment House $102,460 in 1930. |k ##5 A13 REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD Applications _invited on _ high-class apartments and dwellings, -and_particu- iaxly on well located business properties, for 3.5 or 10 vears, if so desired. 1520 K St. N.W. National 0475 D. H. McKnew & Co. 1200 15th St. N.W. Decatur 5660-1-2 Investment Securities First Mortgage Loan Applications Invited at 5/5% 'Glover & Flather 1508 H St. N.W. National 1753 “Clears Your Desk —Speeds Up Work” ‘WHY waste your time? Use Kleradesk — the modern, handy way of distributingletters, pa- pers, bills, etc. Equals six baskets or trays in the space of one. Kleradesk is made of interchangeable steel compartments. Add or remove sections as desired. Finished to match your furniture. Let us show you how Kleradesk will addto your efficiency. Come in today, SOLD BY TOCKETT- ISIKE CO ICING _STATIONERS | w E ST- -N - W ‘ASHINGTON-D-C| Next to New Pepco Building MANAGEMENT MANAGEMENT GIVE your apartment house properties advantage of experienced management — such as you give your private business. That’s a feature in which we have had long ex- perience, with successful results. aille Hershey.. Houston Ofl... high rate, quotations for prime bonds are depressed, and if money is in abundant_cupply a t a low rate bond prices advance. The im- portant thing is to examine into any deviation from the average price of other securities supposed to be of the ! same grade. ns Bros cum pf 4 Burroughs A M t1%. Lk 1% Bush Terminal 7 1 1 ot 1087% Bush T BIOg pf (T).. 1 ) Hudson Man pf ( 1% Dutte Copper & Z! 3 : Hudson Motor (1), L Hupp Motors. .x..es :.fi;ll::’lyij\ M).... Illinols Central (7) Indlan Motor Cycle.. Callahan Zine & Ld.. Indian Refining. . e - Indust Rayon (4) . Calit E e Ingersoll Rand (16). Calumet & Arizona Inland Steel (4). Calumet & Hecl Inspiration Copper. D e ]‘<y( g uranshar Del 40c. R Ig By & A15)- rb Rap Transit.. I Saats (0. Interlake Iron (60c). 9 b Can Paciflo (2%4) ... Int Agricultural. : 5 nnon Mills (1.60).. Int Agricul pf (7). .. pital Admin A. Int Bus A se (J 1) (8) which may be purchased at Present Market Levels under a sound, common sense Investment Plan me grade. e with a strong appeal to the as that of the Autumn of 1929, the rule Conservative Investor does not hold, because on those occa. R sions high-grade securities are sacri- . , =a ficed to Tise cash and sellers take what We recommend N. A. T. Shares buyers are willing to give. In times of at present depressed prices exireme depression after the panic al- il lowance must be made for fact that investors who ‘have KNAPP & CO ively cautions seek . Investment Securities Washington, D.C. Shoreham Bldg. Metropolitan 1522 i | everything else and pay fancy prices for | these same they were sacri- Please send full information on N. A. T. Shares. presid ¥ mond, Fredericks- burg & Potomac Railroad and the mond Terminal Railwa; all directors of both c Consultation involves obligation. B. F. SAUL CO. 925 15th St. N.W. ¢ 1 no net income 12 1930, a dec 29, ascribed b 1t and pas icles and bu its passe xpenses Nat’l 2100 and r ighter, Mr. Hun- MORT GAGE LOANS ficing when the crisis was acute. It 15 the normal sequence of events that recovery in trade and in the specu- | lative markets is preceded by an upward movement in these extremely conser: tive investments. still, all this may be taken into account and light thrown on the desirability of any specific issue by ! the market price. I Address e i Refinancing at THE PORT OF NEW YORK AUTHORITY 1 7 7 (] 41,9 Gold Bonds Due March 1, 1941 to 1960 inclusive offers the advantages of a longer loan term, and a lower interest rate . . May we prove to you, in detail, the sub- stantial savings possible through five and one- half per cent financing. int Combustion. Int Harvester (2%) Int Harvester pf (7). Int Hydro EL A (e2). Int Match pf (4).... Int Mere Marine (2). Int Nickel (60c). . Int Nick Can pf (7).. Int Paper pf (7).... 100 Int Paper & Pow A.. Int Paper & Pow B.. Int Paper & Pow C, Int Pap & P pf (1) Int Salt (3) Int Sflver. Int Tel & Tel (2) Inter Dept Strs (2 Inter D St pf xw (7). 708 Investors EQuity.... Jewel Tea (4) 45 Jones & Laug 2 2 1204 Johns-Manville (3). 55% ity Sou (5)... 34 At(R) (21.08) 5% nn Dept Strs (1) 141 14 195 Cent Aguirre As1%. 201% Cent RR of NJ ( 20 Cerro de Pasc 2% Certain-teed Prod. Name Caaanx 4 % Checker Cab Mfx. ... 46% 29% Ches & Ohio (2%)... 54%s 38% Chesapeake 1% % Chié& Alton pf \6a aBotit 90 5% Chi Great Western lub and other gue . y Chase Club la A Chi & Northwest (4). 914 Chi Pneu Tool 47% Chi R1& Pa #3 RI&P DL (6)... R 1& Pac pf (T). b(3).. Commis- requir irg & Potc earni t Frederic pay exces probably 5 States officers road is « Chi Chi Yellow Tax Free in the District of Columbia, New York and New Jersey. s Co (2.40). Chrysler Corp (1). City Ice&Fuel (2.60 City 8 liowed 120 wles Coover has retur! w Haven, where he took part in laying the corner stone fo $1,000,000 Y. M. C. A. b MILLER TRAIN CONTROL BUSINESS IMPROVING Special Dispatch to The Star. STAUNTON, Va., April 23 —The new method of controlling traffic signal lights with trafilators instead of arbi- trary timing is gaining attention, the Miller Train Contrcl Corporation re- 14% Comm Solvents (1). . ports. An officer of the Miller company % Cmwith & Bou (80¢). stated today that orders for trafilators 91% Cmwith & Sou pf (6) have recently been received from cities 6% Congoleum-Nairn... 26 and towns in Virginia, Maryland, New 22 Congress Cigars (4). 2 Jersey and Pennsylvania, 25% Consol Cigars (5).. 4 Tt was also stated that the Miller 71y Consolidated Film. . company had received permissicn from 14% Consol Flim pf (2).. the Commissioners of the District of | 109% 8214 Consol Gas N ¥ (4).. Columbia to install trafilators in the| 104% 101% Con Gasof NY pf(5) city of Washington at the intersection’ 15% 14 Consol Laundries (1) 8 14'% 14 of Wisconsin avenue and McComb 1% % Consol Textil e 9 el % Sreet northwest, 8% 6. ContainerCorp(A)as 1 5% b4 Cocoa-Cola (17%). 26 Exempt from all Federal Income Taxes. “ollins & Alkman. 15% Collins & Atk pt Colonial Beacon..... Colo Fuel & Iron (1), Col . % 100% Col Gas & El pf A (6) 16% 7% Col Graphoph (a%). 111% 73% Columb Carbon (6).. redit (2) 34 Comcl Credit A ( 213 Comel Cred b B (2. 2 ) Comel Cred pf (1%). 614 Comcl Cred 18t (6% ) 26 Comm Inv Trust (2). Loan Correspondent for “The Prudential” Legal investments by Statutes of the States of New York and New Jersey for savings banks and trustees in these States. Kelsey Hayes (2)... Kelvinator Corp. Kennecott Cop (2) )Co pt. . ter Radlo. . Kolster Radio ctfs. E Kresge (58) Co 1.60. 12 Kresge (SS) pf (7). 208 Kresge Dept Stores. 1008 Kress (SH) Co J1).. 1 Kreuger & T (a1.60). 63 Kroger Groc&Bak1) 96 Lambert Co (87..c00 9 Lee Rubber & Tire. ., Leh Port Cmt (1). . Leh Port Cmt pf (7). 6 Leh Valley (2%).... Leh Val Coal pf (3) Lehman Corp (3). Lehn & Fink (3) Lib Ow Ford Glas: 37 Liggett & Myer (16). 2 Lizg & Myers B (15) 4 Lima Locomot (m2). 1 (oontinued on Page /i4), 108 . 108 . 3 Price 100Y; and interest Prompt approvals— Valuable prepayment privileges— Three-year loans on newer properties without amortization Complete details on application ALEX. BROWN & SONS H..L.. Rust Company Established in Baltimore. in 1800" Washington Office; 737 15th St. N.W. 1001 Fifteénth Street National 8100 EhABLISHED 1889 The above information, although not guaranteed, s belleved to be accurate % 2 6 29 14% 2 914 3 104% 104 :_m i 23% B b 104% 103% FURS TI % % 5 b