Evening Star Newspaper, June 11, 1931, Page 13

Federal Reserve Bank Re- Retail ifth ral per the Nation the yea C their se 1a in that ness day n acc and m s Biher the Ir &te FINANCIAL THE EVENING HINGTO ETAIL TRADE OFF INFIFTH DISTRICT Prev High, 147 52 port Calls Attention to Smaller Prices. RY STONE. 1931, tn the reflected in was 9.3 than EDWARD C. trade in May Rescrve district, 55 d.pmmn less s by cent stores, amount and 9 per cent in comparison with sales in correspe months of last > the 55 stc hich reported on May business e Federal Re- ve B of Richmond. 8 showed ger sales and 47 sales than | May, 1 It st be mention May, 1931 less bust ch part this year m com- May mal es are materially has been t h t ¥ Wash best showi ict. Tt cent 5.5 per s small 5 per cen Washington Again at Top. made r ade during period being 0 ahcad | cotresponding 15 in In this five-month perind all the | cities in the district are behind | ndividual pereentages of changes in cities in hich three or more reporte May and for the has also tail he five months follow: reported or public today, the reported Federal port ond in the list decrease i L same n Prelim wres of Y ais anc and 1306 T wal the cen firs reer from a s tric th con most su i bor <3 Other Bond Rai at It Feomin ers 4one ] 4 Chambe fort portant re on sban \iinte f¢_ Directors of LE. K. M TeRU share The Petrole $200.000 iq0 $4'2 {beer “ing 0y N Rai divi Zeommon stock out - 1unal a total of clas they of mor f#tions in coeded any her divid Trade in 12 Reserve n a ion to the F Districts. chmond Bank's trade in this district, made Federal Reserve Board on'trade conditions in all 12 Reserve districts. In this re- Fifth district came sec- the Atlanta area. The und Atlanta were er o while this section sal off May. 9 per cent from the the local m the in of an a volume the 12 per erage on sales decrease ) May. or department tricts, show a from e both f for Ma average & in April and n comparis ue of sa prelim f t smalle e Aggre t five months of the year reentage vear ness days changes, was of the 1923 compared witl March year ago according was 14 per ate for the was 9 per increases decreases ago follow 234 | or 20 18 23 McLachlen. f the Dis cting ¢ v ted President Bankers icorge O. Vas t Bankers' A incheon group. P. McLachler erday wi v fir essing Honor deep ren- | g the past punctuated bumorous re- McLachlen, the annua has had a ion and the | Iy deserved. | xchange Te- | i€ time in common, 10| at 500, Se- on the| 501 ng at 1047 10475 recent levels. !Tl- Washingto 2! which moved | 45% 45'y [ 90 ention 170 53'5 rd today ks sold a trad W & st und led by lwav 4s. 90 Heard in Financial Section. toda the Dist Springs wi held days have was a nced Associat past expre Reserva far ex- | 3¢ 2114 100% ned Com- ogram call some im- orts by committee chairmen | taxation. &gri e. legislation, | k protction organizations, rest rates and the The Co. arly quarterly dividend of T preferred stock payable iders of record 30 Power Co. re- 750 per # ved with | 31 ing business, | 12 that the de- n incre 167 the v issue Md and a new ounty, bond bonds 1 the purpose of purchas- site. They are priced | ontgomery per cent issued fo e 51 | a5 pren 100 18 a court h ield 4.10 p SOUTHERN RAILWAY. EW YORK. Jun; ). —Southern | Iway declared a dend share orn t remainder ppropriated 1930 earnings. ) $4 a share pavable on this s of stock this year. and announced do mnot contemp! the payment ds on the com- of cents of the of | 112 1931 n stock during CHICAGO DAIRY MARKET. C Rec pric easy first. age { \vr:\d\ 99 cases. ‘ P zmmn 25 HICAGO. June 11 cipts, 16.217 tubs: es unchanged. Eggs, extr ts. 15%: fresh graded s, 157, : current receipts, 14!,: stor- backed firsts, 16'5; storage packed extras, 16%. N euril N 000 141ic clus NEW SECURITIES. EW YORK. June 11 (& —New se- ties offered today include | ew York Central Rallroad, $3.094 - 4', per cent equipment trust cer-| ates. due May 15, 1932-1945, in- jve. priced to vield 2 to 395 per 608, 9xi, cent, by Halsey, Stuart & Caq, 1931 Low. 3 15 114 82t « Air Reduction ( NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office, Stock and Snies Dividend Rate. Add 00. Abitibl Pow & Paper 3 Abitibf P& P pf (6).. 2 Adams Express (1) 6 Adams Exp pf (5)... 208 Ady Rumlay (new).. 1 Ahumada Lead...... 62 4%) Alaska Juneau (40c) Alleg COP. .ouvresrae » Allez Cp 330 ww 63 . Allied Ch & Dye (n) Allis Chalmbers (2). Amerada Corp (2)... | Am AgriChof Del... 4 Am Rank Note (13).. 1 Am Brown Bov Elec. 4 Am Rr B E pf (7)... 2808 Am Can (15).. 450 Am Can pf (T) Am Car & Fdy pf (1) Amer Col'type (80c). Am Comel Alcohol. . Am Enropsan Secur. Am & For Power. ... Am & For Pw of (6). Am Hide & Leather. . Am Hide & Leath pf. Am Home Pr (4.20) Amlce (3).. Am International Am La I'r & Foamite Am La Fr & Foam pf 508 Am Locomott Locomot pt Am Mch & Fav 1.40 Am Mach & Metal Am: Metal Co.. Am Nat Gas pf Am Pow & Lt (21).. Am Ra&Std San 60c. Am Roliing Mills. .. Am Safety Razor (5) Am Sm & Ref (4)... Am Sm & R 24 pf (6) Am Solv & Chem Am St1 Foundries(1) 8 Am Steel Fav pe (7).1008 Am Stores (123). .. Am r Ref (5). Am Sugar Ref pf (7) Am Tel & Tel (9).. 1 1% 12 Ry Am Tobacco (16).. Am Tobacco B (16) Am Tobacco pt (8 « Am Water Wks (3).. Am Wat Wks cfs (3) Am Woolen. .. Am Woolen pf.. Am Writ Paper etfs Am Zinc Lead & Sm ‘Am Zinc & Lead pf. . Anaconda Cop (1% ). Anaconda W &C (1). Archier Danfels Mid. Armour of Del pt (7) Armour of 111 A, Armour of Il B.. Arnold Constable Asso Apparel (12). Asso Dry G (2%).. Atch To & S Fe (10). Atch To&S Fe pf (5). Atl Coast Line (7) Atlantic Refining (1) Auburn Auto (£4) Austin Nich pr A (3) Aviation Corp af Dal 33 = 13 Paldwin Locomotive. 9 Balto & Ohlo (5).... 23 Bang & Aroos (3%4). 3 Rang & Aroos pf (7). 308 Parnsdall (A) (1) 13 stpf (7). bos Beatrice Cream (4).. & Bel N Ity pt pf 15 1 + Bendix Aviation (1). 1 s Bethl Best & Co (2).... Hethiehen Steel (4). nem St pf (7). Blaw-Knox (1%).. . Bohn Alum & Br 1 22 19 1t 9 230 50 2005 297 24% 91y 5914 95 36, T % Col Eorden Co (k3). n Trpt (8). Y& Qu T pf (5). I¥n Unlon Gas (5) & rown Shoe (2)..... 1 uns Ter & Ry S... 1 BRI e, o 2 a4 (k5 G) MPg pe.. 108 Budd Wheel (1). [ Bulova Watch (1%4). 1 Burns Bros cum pt Burroughs A M t1%. tutie Coprer & Zinc. Butterick Co.. A5 s s ans Byers (A M) 108 110 108 Calif Packing ( = s Calumet & Hee! Canada Dry G A (). anadian Pacific 1%, pital Admin A axe (J 1) (8). ase (J 1) pt (7) aterplilar Trac ‘elotex vic ctf: Checker Cab Mfx Ches & Ohlo (2%) Chesapeake Corp (3) Chl Great Western. . Chi Great West pt Chi Mil St P & Pac. ., Chi Mil StP& P pf.. Chi & Northwest (4) ChiR1& Pacim2ia) hiRR1&P DL 6)... Childs Co (2.40)..... 2 Chrysler Corp (1)... 96 City Ice&Fuel (360) 3 City Ice & F' pf (6% ) 230 City Stores. . Clty Stores (A) Coca-Col. Colgate-Pal-P (234). -Palm P pf (6). Collins & Alkman. .. Colo Fuel & Iron.... 60 21 v Col Gas & EI (2) « Contl Motors 100 19% 1075 PiN 140% e 140 244 7, T 61l 71 118% 118 128% 9% 34 106 s Dome Min Columbia Graph 56¢ Col Grapho cifs 56c. Columb Carbon (8).. 10 Comel Credit (2).... 9 Comel Credit A (3).. 2 Comel Cred pf (1%).700s Comel Cred 1t (614) 1108 Comm Inv Trust (2). X Comel | war sta 1 Comm Solvents (1).. 28 Comwlith&Sou (40c). 57 Cmwlth & Sou pf (6) 1 Congoleum-Nairn... 74 Congress Cigars (4) 250 Consol Film pf (2).. 1 Consol Gas N Y (4).. 250 Con Gasof NY of(5) 5 Consol Laundries (1) Consol Textile. . Container E... Contl Baking A Contl Baking B Contl Baking pf (8)., Contl Can (24)..... Contl Dia Fibre (1). Contl Insur (2.40) Contl Ofl of Del. Cont Shares. ..... Corn Prod (13%). Coty Inc. Cream of Wh ( Crex Carpet. Cructb Crucible Steel p Cuba Cane Prod. Cuban-Amer Sugal Cuban Am Sugar pf. Cudahy Packing (4). Curtis Publish (4) Curtis Publish pf (1) Curtiss Wright Corp Curtiss Wr Corp A.. Cushman's pf (1) 1008 1% 60x Davison Chemical . Deers & Copt (1.40). Delaware & Hud (9). Del Lacka & Wn (4). Detrott Lidison (8) . Devoe & Kay (1.20).. Diamond Matel .. . Oismond Mtch vt 1% ). Domn Stores (1.20).. Drug Corp (4)...... Dupont de Nem (4 Dii P de N deb of ¢ stman Kodak (18) 23 stman Kod pf (6). 208 aton Axle (1.60)... 6 Eitington-Schild.... 2 lec Auto Lite (8)... 50 L Auto-Lite pf (7).. 108 Elec Boat........ 4 c Pwr& Lt (1)... 429 Elec Pow & Lt pt (6) 4 lee Pow & Lt pf (1) 2 Eudicot i-John (3) 1 Eng Public Sve (2o 3 Erie RR.. -8 High. 16 13 R8 Note—All stock are sold In one hundred share lots excepting those designated by the letter s (8 which shows those stocks were sold in odd lots. (250s), Prev Low. Close. Close. 3 an 16 1374 B 6 8015 14 % ""“. ~Prev 1831 High. Lo PE 125 64 85 1t | 11w 116 1038 8314 26 19% 5% 2014 10 317 a0 B 4814 Sas 69's 261 15 1310 116 1 i 19 2% 1 P ¢ » Nat 4 Nat 4 Stock ana Dividend Rate Erie RR 1St pf (4)... 3 Iureka Vae Cleaner 2 Fairbnks Morse 1.60, = 3 Ked Lt & Tr pf (6)... 108 Fed Mot Truck (40c) Fed Wat Sv A (2.4 Federated Dept Stri Kid Ph Fi e In (2.60) Firestone T & R (1) .. Fisk Rubber 1st pf. Foster Wheeler (2) Fourth Nat Invest. . Fox Film (A) (2 reeport-Tex briel Co A, n Am Investors. .. n Am Tank Car(4) « Gen Asphalt (3) Gen Cable A..... Gen Cigar (4). Gen Elec (1.60). . Gen Elec spec (60¢). Gen Foed Corp (3).. Gen G & EI A (e30c). Gen Ital 154 K1 m2.61, Gen Motors (3)..... Gen Motors pf (5) ... Gen Ptg Ink (2%). 0 Ptg Ink pf (6).. Gen Public Service., Gen Realty & UUl. Gen Refractories (4) Gen Theater Equip, . Gillette Saf Ragor.. t R DL (5). iro: ubel Bros L€ (1) Glidden . .. Glidden pr pf (1) .. Gobel (Adolf). Gold Dust (2%) Goid Dust pf (6). Goodrich (B F). Goodyear Tired Graham-Paike Granby Consol (2).. and Unton. .. ant (WT) (1).. rth pt (5). GrtNorOre (2)..... b Grt Western Sugar.. o Grt West Sug pf (7). 208 igsby Grunow. 50 iantanamo S 2 Harb Walk ltef (2).. A7 Hawalian Pineap (2) 2!-1 Hayes Body.. 3 Her r\!un/l\i' 1 Hercules Pow pf (1) 1008 Hershey Choc (5) ... 2 Holland F (%) 1 Hollander Sons. . Homestake Min ( Houdallle Hershey.. Household Fin pt (4) Houston Of Houston 011 (new) Fowe Bound (). 5+ - H Motor (1). Hupp Motors. .. ning. Indust Rayon (4) ‘ Interb Int A Int A Int B 1s Mach (n6) riers Ltd mbustion. . b Eng Harvesier (2%).. A ce2). hpf (4). (80¢).... int Ma Nick Nick € er & Pow C.. tSalt (3).... Int Shoe (3)... nt Tel & Tel (2).. ier Dept Strs er DS vestors I Int Int Cmt (1) Leh Valley Coal I.eh Vil Coal pt ( man Corp (3). & F Ford Glasi LigEett & Myer (15). A7k & Myers B (15) McCall Corp (2 %) . fcCrory pr (6). .. lcntvre Pore M @) MeKeesport T P £33 McKesson & Rob (1) ack Tricks (3). Macy (RH) & Co(nl) Magma Copper (2). . Mallison & Co. ... nElevmg . acaibo Ol Exp.. Marine Mid (1.20)... Marlin-Rockwell (2) Marmon Motor Car., Marshail Fleld (23) Mathieson Alkall (2) May Dept Strs (2%). Mengel Co 2 Mexican Seaboard. Mid Continent Petm.. Midland Steel (3). Midland Steel pf (8). Minn Moline Pow. .. Mo Kan & Texas. . Mo Kan & Tex pt () Missouri Pacifie....s Missouri Pac of (5). » Monsanto Ch W(1%) Montgomery Ward. Motor Wheel (1) Mullins Mfg. . Munsiug, in Murray Corp. . Nash Motors (4).... Nash Ch & St T (5) Nat Bella Hess. ... Nat Biscuft (2.80). Nat Cash Register A, Nat Dairy (2.60). Nat Dept Store. .. Nat Dist Prod (2) Nat Enam & Stamp Nat Lead (5). . Lead pt B (§) Pow & L.t (1) Nat Steel (2).. Nat Supply (4). it Surety (2). Nat Tea (1) Nevada Copper (1). N Y Central (6).. NY Chi &St L (6).. NY le N Y Investor| N Y N H & Hart (6).. NYNH&HDf (). N Y Ont & Western.. N Y Steam pf (6). . N Y Steam 1st pf (7) Noranda Mines. Norfolk & Southern. Norf & West (112).. Norf & West pf (4) North Am Aviation Nor Am (b10% stk). North Amer pf (3).. Northern Pacifio (5) o O ... : Oliv Farm Eq pr pf. Otls Elevator (2% ) Otls Steel prpt (1) Owens 11 Glass (2 Tacine Gne & 16 (2). Pacific Lizhting (3). Pacific Mills 1 el (1) Vaciard Motor (40¢) Paramount-Pub 24 . Pathe Exchar Sales - Add 00. Hich. 31y 6 164 85 6 16% 241 4 17% 6018 el 1y 29 24% 2014 263, Aty B, 561y 21% Prev Low. Close. Close. 31 6 16 85 (31 244 e 17 (Continued an .Faze pL T 31la 204 6 6w 16 16% 8 85 6 5% 161, 1415 244 23 @ 17% 6014 o P D THURSDAY. STOCKS IRREGULAR INLIGHT TURNOVER Small Recessions Occur Throughout List as Trad- ers Take Profits. BY GEORGE T. HUGHES. NEW YORK, June 11.—Moderate re- actionary tendencies characterized trad- |ing in today's stock market, There was |realizing by traders who had bought 1stocks lower down and who confident that th recovery would "lcarry through, and there was a little {tentative selling for short account Losses, however, were confined to a point or so, exccpt in some of the more | volatile higher priced issues, Volume Small. Volume during_the early realizing was very light ‘There Was no pressure on the market and it simply sagged ir- |regularly. The most important news | was the action on the Southern Rail- | way common dividend. The directors jordered a payment of 35 cents a sharc end stated that nothing more would be disbursed this vear, leaving it to { the Docember me | policy for next vear. The stock dropped ts on the news, but other rail v shares were not noticeably affected As a matter of fact, railway shares Id much better than industrials A SILVER QUOTATIONS. | hison, Baltimore & Ohio and Union | Pacific were strong. and the low priced St. Louis Southwestern, which faces a refunding problem in 1932, advanced a [ point. Buyers of railway stocks pinning their faith to the granting by the Inter Commerce Commission of an increase in rates or. in lieu of that, to a reduction in wages. Car load- { Ings continue to make POOr COMPATISONS with the same period last vear, the two | outstanding exceptions being Interna- tional Great Northern and New York. | Ontario & Western Fox Film was a strong spot during the morning. Entrance of new inter- ests into the company and the declara- | tion of a dividend on the common at a $250 annual basis was interpreted fa- vorably by the market Public utilities made a gnod showing | although sligntly lower than Wednes- day's close. Buying in United Corpora- tion kept up in expectation of some an nouncement relative to merger develop- | ments, as w he { ter earpings ! Other Changes. On the other hand. Woolworth made little response 1o estimates of the bene- fits to accrue to holders of stock of the American company from the new cap- ital set-up of the Britisn subsidiary U. S Steel dropped below 90 in the forenoon, and fractional losses were re- corded by Du Pont, American Can and | other recent leaders A minor incident was the continued fecline in Alaska Juneau, apparently the | group working in the stock had with- | drawn its support, and outside demand | was lacking 3 2675 June 11 Bar sil- higher. FW YORK ver steady and 's DIVIDEN DS.DECLARED NEW YORK Company Eagle Wob o &8t Resumed Q Q Liguidating. S Reduced Deterred Q Regular 137 Q ouist Ltd A Do ks 0003 0 o00T000 o, Prod 11625 5250 pf.82 pf 5175 Invest Cor Trust Co Bk N Y rs Bar Tr (Hartford gnit. Ret Ch ot nivers Pic 1st Vi Mona co ot P Westn Mass Cos. 6834c “For the Arst auarier of this m 0000% £0Z00>0 00O Telep Toledo Trade Travel 87 bt First Mortgage Loan Applications Invited at 5)2% Glover & Flather " ISBH St NW. National 1753 NORTH AMERICAN TRUST SHARES Bond-like regularity of in- come, with the growth of, principal potentialities of Common Stocks KNAPP €2 CoO., INC. INVESTMENT SECURITIES Washington Office Shoreham Building Phowne Metropolitow 1523 "Please send complet were not | FINANCTAL: COMMODITY PRICES. | By the Assocliated Press. | Wholesale commodity prices contin- | | ued to recede last week as their change was calculated by the Commerce De- | partment. In the averages that follow, | the index of selling prices is given for comparable periods, based on represent- | ing the 1926 figure as 100. In addition, | the selling price for a ton of composite ‘slecl products is given for like periods Al commodities. Sieel i B Prevalling interest and commi Joseph I. Weller g v Authorized Service Lockheed Hydraulic Brakes MILLER-DUDLEY CO. 1716 14th St. N.'W. North 1583-84 Hotel Expert BANKER 1S CHAIBMAN OF SPECIAL COMMITTEE. | week ended June 6.. Previous week Same meek last vear Columbia Building Association | 716 11th St. N.W. i é Under Government Supervision Compounded Semi-Annually B || Pays 5% Bring This Ad and Receive $1.00 Credit ON OPENING A NEW ACCOUNT ing to detarmine the | arg | prospect of bet- | Let Us Refinance Your Maturing Real Estate Loan No Commissions Charged 22 Years’ Successful Business Without the Loss of a Dime LUTHER E. SCHREINER, The manager of the Dupont branch of | the Federal-American National Bank | & Trust Co. is busy arranging accom- | modations for the D. C. Bankers plan- | ning to attend the thirteenth annual convention at the H-mestead, Hot Springs. Va , next week. He has headed | this committee at several similar gath- | erings Refinancing at 'NEWSPAPER PRAISED 1 | AS INDUSTRIAL AID L 3% | Value of Advertising in Restoring | Prosperity Commented on by Tobacco Firm. 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- halt per cent financing By the Associated Firce NEW YORK. June 11.—Newspaper advertising. “which ranks as a molder of public opinion second only to news ‘unrl editorials, can piav an important | point in ess confidence.” ! Liggett & vbacco Co. said in | connection with the opening of an ad- | vertising eampaign in 1.900 papers | throughout the United States “This company.” the statement said is one of the largest users of news. paper space, and it believes that news- paper advertising can definitely assist {to inspire the same thinking and con- structive planning which will lead us back to a sounder prasper! DRY CLEANING PLANTS REPORT BUSINESS GAIN Loan for *“The Prudential” Prompt approvals— Ualuable prepayment privileges— Three-year loans on newer properties without amortization Rl Rust‘Company 1001 Fifteenth Street National 8100 ESTABLISHED 1889 Laundries and dry ecleaning plants throug! \ COuntry reporting in the | anufactures had increased llv in 1929 as e previous cen- capita_purchases of to approximately 929 a:‘,r $3.84 in Per capita purchases of dry cleaning vices showed a greater increase. ounting to £1.64 in 1929 as compared 1 $1.21 in 19: Th the rombined irchases of Jaundering and dry clean- were 79 ce! per capita greater in P The census ply those firm busi so these fig changed if through the per Let Us Help Y ou { manufactures reports doing a Jaundering or n excess of $5.000 ires might be ma- the many smal country were in- Enjoy today your dream of owning a home. The Metropolitan Life Insur- ance Cnmpan_\' Real Estate Loan Plan was developed to aid tl’le purchasers of large or small homes. Loans are made PARIS BOURSE PRICES. PARIS, J #).—Trading was tiet and were steady on the rse toda per_cent rentes ancs 10 centimes. Five per cent n. 103 francs 10 centimes Exchange on London, 124 francs 23 centimes. The dollar was quoted at 25 francs 53% centimes. U. S. TREASURY BALANCE. The United States Treasury balance announced today as of close of business June 9, was $53.783.829.92. Customs re. ceipts for ‘he month to date were $8.608.228 31 For Fifteen Years At Low Interest Rates On Reasonable Terms Construction Loans in Any Amount EAVER BRO:! REALTORS Money on Hand to Loan on First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies ta Applications JAMES F. SHEA 643 Indiana Ave. NW. W ashington Building District 9436 & Mortgage Loan Correspondent Metropolitan Life Insurance Company Loans made in the District of Columbia and nearhy Maryland and Virginia vantageous Exchanges In Your Investment List Ad THE sweeping changes_that have J'aken plcce in the mf:rke?"moke it hlghly advuscble for all security. owners to review their holdmgs. We believe_an unusucl oppoflumy exists”at the” presenf tlme, to profifob’y exchange low grade bonds forAsou nd, seasoned listed stocks “at” or_near pre* vullmg prices, and that such exchonges, over‘a period of‘hme will be "greatly toTthe advantage of mvesfors. We will be glad to make suggestions whlch would’m our |udgmen' improve your, mves'mem posmon. AL Mackubin, Goodmch & Co: ESTABLISHED 71800 Cad BANKERS ‘Mmrbm New York FAND BALTIMORE STOCK ' EXCHANGES Associate Member NEW, YORK] CURB EXCHANGE REDWOOD" & SOUTH $T& ‘1508 H STREET BALTIMORE, MD. WASHINGTON, D. C.