Evening Star Newspaper, June 18, 1931, Page 13

FINANCIAL. THE EVENING STAR, WASHINGTON, D. €, THURSDAY, JUNE 18, 1931 D.C.STOBKSHELD || NEW YORK STOCK EXCHANGE | [STOCKS SAG AGAIN [HOOVER APPROVES. " o s eees GOOD INVESTMENT -mg..:.m...:.::zm.:-r..:: i ez o IN ORAGRY TRADINGIBANK LAW CHANGES ””m“’f’?ufm,nmg e vt - - Sadee~ G Qe FesaGorn (3. 81 41, 4ok 4o brokerage Bome cwecs permatantly eployed. 38 business Dividend Rate. “Add 00. High. 3 . 4% Gen G & 1 A (e300). 37 % dron- ol! mud the end of June snd l‘ll'l ?nm Room ’I‘K.eauthun Issues on Loocal Board Have| ; A . 1 ‘3.‘2 RO “‘-""'"“ g o ;:g Speoialty Group. Is Target|Greater Protection to Depos- |reaches s minimam proportians of the . Made a::«i tn;::rru During i og | for Selling—U. S. Steel | itors Urged by President |vimiss snd the lirer aoviopment s show aroun I . Hits New Low. inReoent Address. |, condtins aon it ettt | ped to an aver- | Il First Mortfllfle Locn dally transactions “~ ‘age o! 1,250,000 shares and out cf which l& BY GEORGE T. HUGHES. BY C. B. UPHAM. there devel, the moderate rise in | A . . 2% | 8pectel Dispateh to The star. The iafluence of the administration | bry g5, "o Culminated on Febru- | pplications & 'W;?:l. l-Ylm- 18. _::u another | was definitely and positively placed be: g e e i 1 ¥ i session volume and trading | hind current proposals for changes in | nvited at 2615 | #tocks lost more ground on the Sa|the banking laws. ot the couptry in T:::A:U’.ff 5‘::-?? A.TE '; ‘ 101 |change today. The market held well | the speech of President Hoover Monday | Rate-siavagity 2 S e 344 | above the low of June 3, but there Was |night before the Indiana Republican fifs Sept. is. 133111l 180 § g md no effective support and Editorial " s Ree- 4 fl n-n ; ngg ! 3: 1El 183 11 et ! 1098 o1 o7 sl Stocks on the w‘::mm m:g B ey { o..m..‘.:: Roc during lha current deprission, as Amoacnannm. 28 m» hot Sves. Allls Chalmbers ()., 4 23% the general level on t.he big 2 15% o! the country, it was poinf 38 27% out my by a prominent member of Am Brown Eov Bleo, 5 the local exchange. This nn-cu ‘credit upon the sound- | .7 Am Br B Ept (1) ness of local institutions, financial lead- | “ggu/ 16% ers said, and the traditional stability of the National Capital in times of coun- Graham-Paig try-wide stress and strain. 22% 10 Granby Ool Hll! . Investors for the most have been Grand 811 Stra (b1, buying local securities for investment purposes. 1t w it was pointed out, and not % Am Hide & Leath r ootk atocks here, for tnstance, it was kil datb ol g T generat depresion. but thes u general 3 falling off has been much smaller than Anancisl_inaliunions Iocated - the N ] H o3 50" Hahn Dyt 8t ot (65 larger cities of the country. There has | gq 5 N . 86% Hanoa pf (1) been & much greater depreciation out of J w. 4% Hartman Corp (A).. this citly than here. 1 5 % : % v 3% Hmoy Choo (8) e ; gy T elsewhere, on 6 Am Bafety Rasor (§ of Teturn, 1 was explained. ‘Am Ship & Com. ’ " ot Trading on the exchange Am Smelt Ref (2)... mod.uu in volume m:, with prle- ’lfl holding s ‘Transactions for_the most part were in utilities. Capital Traction 5s sold at'83, Po- tomac Electric Construction 5s at 104% and Washington Gas 6s “A” at 103%. Potomac Electric 5!, per cent pre- ferred stock turned over in two blocks at 110%, while the 6 per cent pre- ferred of the same company went at lllh Wuhln(wn Rallway . preferred hands at 9!% J«u National Bank & Am Wat Wks ofs (3) 'n-m Co. h.w -u-ny at 50 on sale of Am Woolen pf...... one share of Mergen- Anaconda Cop (1%).. thsl'r v-nt at 1615, Much interest in financial circles here 8 today was turned wnru Hot !pflnn. Armour of Del ptf (7) Va., where more than 20( Armour of Il A. bankers are in_session -t me nnnuAl 1 Armourof Il B, convention of the District of Columbia Armour of Ill pf. Bankers' Association. The sessions con- 5% Asso Apparel (32)... tinue through Saturday, and delegates Asso Dry G (2%). will return to Washington Monday. Atch To & 8 Fe (10). PR JOUS anunBe { | diversion of capital bank its . . from commereial and industrial busi- Authorized Service ,,.m’“"' into wasteful . T fi o g ToaC% pagme, CoppSt | Sromotion” """"'::fl:”:e":j' Wico—K-W and 1| Sock om & 81 anmual Besls, sgainnt 63 | ganized, the e : Webster Magnetos || 1508 H St. N.W. g American Can broke through par in i Aaan to Somtes N M " Can ’ | ures, Added llcnmu.nu was || MILLER-] 3 s :flm' or ;fv.en this statement by '.he announce- 1716 14th .LD,,E.’,D';EX 1(5:“94 4| Thited lm- 0001 s0ld within s poinia | AL on the sume day by the Pederal 4% the | Reserve Board that during the first Hy e it low. TOR the | e months of 1831 some 516 banks e el ok ded. This number does not 4% | eak incl k-3 Croarnre Sonunan e Nm ~anwi-e Universal Currency -1 4% 204 Howe Sound (2). 78% 684 Hudson Man pf (5. Hudson Motor (1) 8% Hunn Motors. . 41 Tiiinois Central (0 8t. Louis-Southwestern with Southern | it | Bacific selling from 79 to 80. Coton |mittee, declared that if bank ¥llluru At home, or ‘sbroad, the\ 27% | Belt opened ver 4 points and held T, :“‘ l:t o{ o up o' 4 i d o h cnn:):med on;":.:neo'ntm u‘: t}gfl’ngcth: ravelers’ Checks, issued by 0% | shade lower, but not Il weak as they |pg, s i 26 ve over & thousand such suspensions. “ o Foy 2 e prid s ¢ 1;‘9"' this bank, are as good as % | presst Dl&'.\l ulnled by the roads | present year seems to be well on the ||i ready cash. % uly | iimhs B D ot " | 8T e e Tof o Somwmmomm Ingersoll Rand (4 Insuranshares Del A Interb Rap Transit. 1 32100 00 = 10 14 19 60 1= et 1t 31 44 89 00 DR o - ling 1= | over 500 dur : e market more | 35 e paving. o e ‘:: e Your Vacation Funds can be sold ificant it or Il . . e bank; that falled during carried in no safer or more h’m wrlod were not members of the || s m Federal Reserve System. Propouu for convenient form. fiur depomor prouctlon the of the country, desmbed as essary by the President, are likely to - . Aok Toas ¥ the Fed- || Letters of Credit & Foreign Drafts pt (5) i wmdufl-r ::twl::'fl:n;;e e Atlantio n;nnln‘.;u) 8 The b:'nfikh"u"" record of reecnt of ' of Atlas Powder (4)., 2 years, wi ieaviest losses . of Bethesds, in annual meeting, declared Auburn Auto (¢ | 18 194 il the morning American Can |small country banks, would seem to 15th Street, Opposite U. S. Treasury the usual semi-anual dividend of 3 2 3 Aviation Corp af Dal xz % Inter Dept St pf (1). 108 i p,um . Bteel went to new lows on the | lend color of validity ‘to the contention 3 3 S 3 cent, payable June 30, to stockholders | g oToRErEE e Taland Cr Coal (4). 26 reaction, Can down al- | of Controller Pole that branch bank- OLDEST Natsonal Bank in the District of Columbia of record June 20. T RE [y i eseetiois most to par, and Steel under $88 a | ing by strong banks in the commercial 73% Baldwin Loco pf (7). 40- 57% 36% Jewel Tea (4) share, dividend meeting on Steel throu trade areas is New Building Opens, 43% Balto & Ohlo (l) g& ‘:2“ ;nhnt-lnnvll 0% - 48% is scheduled for July 28, more than s m“m’:m of ",‘I‘,}.‘n}"g’,w, Pprotection The new American Security Bullding Srmne Ay 9 M’L month away, but there was a good deal depo-lum bankers in_ Chi- of the American Security & Trust Co. 3% s 2% e e Drobabiy action were pasitive last week that had has just been occupled by the first ten- 1 T 10 g B i g branch bs n permitted in outly- ants on upper floors, while the financial | Best & Co (2 1451 X 3 tege & o be reduced to $5 or | ing districts of that city, the banking lnmtuuonl.e;rpecu to il “llmn its own 02 Bethlehem 8 4 e § or Corp. g:m mh:’ th:c ;“Al:m bmz::m is b: m&uum would not have developed as it quarters on. e lding con- tains 10 fioors, & basement and & sub- | gf,‘f,{‘;z,:f,“,“(‘,fi,“"‘ 1 K Bo change. The positive tone of the President's e Beun Alum & Be {%. 35 Krougs (88> Co 14 3 el T loors, nd a 3 X P e by e & BnAmi (A) (6) 5 | 2w Kreuger&Toll ( 28 SHORT-TERM SECURITIES. | (hat the executive branch of the Gove bank in the conduct of its regular busi- Borg, Warner (1) A B R SRANI Y (Reported by J. & W. Beiigman & Co) |ernment will be behind legislation at ness. The basement and a part of the Briges M 1%)... Lambert Co (5 e, Qfter. the next session of Congress to reduce sub-basement will be given over to the BKIyh-Mag Tr (8).., 6 Lane Bryant (1 A...,.,E,“.:.'LF". S 10ih the number of bank faflures and to company vaults and safe deposit de- Bllyn Man Tr pf (8) - &T : , i64d 13y, 11312 | prevent a diversion of credit from busi- s partment. 3 T A po 1061s 1302 | ness to speculation. First Entrance to the lobby is through a ‘ Bklyn & Qu T pf (5). 60% 3 E:" 3 Oorp. §0%ei082 i:'« ,:“ (Copyright, 1031 ' vestibule with hesvy bronze and glass Bkiyn Union Gas (5) Galtornia” Pet’ Corp. 'sias i o Mortgage , marble walls and travertine floor. 1 Boors of ihe four pessonger clevators 1 iy ity : e etk N §£ DIVIDENDS DECLARED Notes this lobby are ly decorated BUsh Terminal (1%) - Lib Ow Ford Glass, Chite 5"%e 1547 Doaras’ and other sppurtsnances are of AR 60w Lick & Myare B (16) ornamental bronze. Radiators through- 9 ' Lima Locomot (m2). out the offices are made less conspicuous 4 Liquid Carbonfe (3). by being of a flat dulfn S04 DUNG LM | = o —————————— Loew’s Inc (3). the windowsills. All piping is eoncealed. % Loft Ine. 19 Jamhle mcxfl Stockholders Increase. Eoriiard () Gorrr & prod g Gl Holders of General Foods Corpora- ~ Loulsiana Of1 n tion stock now total 44,400, and nearly 98 CarClin & O nta (5 25 LouG&EA (1%). e n':gko{n ‘d’i‘eis: are women who own the ;’:* g:" ::" {; ;:’(-,” 9% 13}: lgm Liville & N'ville (5). sube 180131, Veshet an i rabanas, vu‘:::rglna: ’,?.’“.“J mflufi’é‘f 21% Caterpillar Trac (3). 22 221 McAnd & Forbes (2). % y . 1" 0ot be paid. funds at maturity, ment by the company today. The 14:. Celotex-Co pt .. 408 15% 16% 1B% McCall Corp (2%)... Standad oIl N. % when desired. number of stockholders has increased 17% Cent Aguirre As 1%. 19% 19% McCrory pf (8) . 80s Bt LM.8. Ry. June 20 June 15 38 per cent since February last year, 165 Cent RRof NJ (t12). 176 Mecintyre Pore M (1) T H‘e. Ligh I . ¢ eisouit. o i3 w8 i T 2,390 t since 1927, 2 Century Rib Mills. .. P McKeesport T P 15% o 195 m e ns Jine e e e haliiéie 7% Cheeker Cab Mfg o o v | Vizeinia Raliwas & P 1o fitgh 2 iy sy SAFE - PROFITABLE 19 has shown an increase each year since 34% 35% eelin 1 5y 5 1 Do. 3 % 1928. In that year 33 per cent were 36% 36w 36 5 5% 5B ;‘ CONVENIENT woman stockholders either | st indi- % o8k 6 3 July viduals or co-holders; in 1! per- % 3 centage had increased to 35.4, while INVESTMENT TRUSTS S-lvt n,th % »t Due © last_year it stood at 42.3 per cent. As {1t of June 1 this year, according to the comywl ‘:x;nnuneem:nt it in- ert T cen The productlg; of electricity by the 15% Chi Pneu Tool Marahall Field (23%) electric light and power industry of the 221 Chi RI& Pac(m2%) 3 33 34 Mathieson Alkali-(2) United States for the week ended Satur- 121 Chrysler Corp (1)... 371 28 May Dept Strs (234). day, June 13, was 1,581,220,000 kilowatt | 30 City Ice&Fuel (3.60) 8 3 Mavtag Co. hours, according to the Statistical Re- 7% City lce & F pf (6%) 10! search Department of the National 2 v Electric Light Association. This is 4.9 cent below the corresponding period 183 Coca-Cola (17%).. n 1930. 501 Coca-Cola A (3). ‘The Atlantic seaboard shows & mark- 40 Colgate-Pal-P (2%). ed decline in electrical output from last &:uflnl a decrease of 1.4 per great central industrial re- 6 Columbia Graph 66e. gion, outlined by Buffalo, Pittsburgh, 55 Columb Carbon (§).. Cincinnati, St. Louls and Milwaukee, Comel Credit (2) = g registers, as a whole, a decrease of 8.3 76% Comcl Cred 1st (6 38%a. by LS per cent, although some relative im- ““H n%. nc ( provement from previous weeks is in 101% Comeliny Trnf 6%. 2 urray Corp. dicated in the Chicago area. The Pa- 10% Comm Solvents (1) cific Coast shows a drop to 6.0 per cent 6% Comwlith&Sou (40c below last year. 90 Cmwlith & Sou pf () i 83% " 6% Congoleum-Nairn. .. 146 Nat Biscuit p: 18t Congress Cigars (4). 1 9% 18% Nat Cash Reglstel W H O C A M E UPTURN IN INDEX it Conm EEPEPI Y5 T N S B Pl eyt t, ;‘?.;3, L .'“:,. —EACH ONE A OF WHOLESALE PRICES| 3658 101 Someasar htorisy "4 168" souk shes s ale s 3 i ot ok I FAMILIAR NAME % Ly Sfi::i-':‘ifin’”" % % % . 3 F Sk 7 E : i | Mieu N z Bank ghrs i i y R - E couldn’t accommodate 48 First Advance Since March Report- : m g:::: %:: o ed in Summary Covering 444 Contl Baking of (8 % more. But the same spe- oy 40% Contl Can (3 cial advantages that agtr.actcd them are available in some remaining offices. Be among active, thriving business neigh- bors. .Success moves through busy cor- ridors here. Make the move now that will place you among these successful - e 8 % “‘ free] 38% Int Harvester (3%).. Case Int Ii.ructer\t 1. - 00000 83 000 i 300 NEW YORK, June 18 (#).— o+ Punctual payment of interest—prompt re- { nicn ¥ iipiiny ‘ turn of invested o S5535a552 T 2235 & G batner Macy (RH) & Cot15) Man Elevm g Marine Mid w 2v)... Market 8t Ry pr pf. . Marmon Motor Ca: Bominion Eni wa Yon.x, June 18 m_o"g.m o d Due July 18 % i 3 2 Due Apr. 15 Particulars of avdilable notes ::t "lSIflk ‘ I‘:‘km A m..'wC& : 5 fl“fi i . will be mailed upon request. H. L. Rust Company Pr g. 1 Jul E...\S.., Norria 1001 15th Street Nat'l. 8100 Invest R T et N Fy % Seaes! bl (R TPRESTST e SIS PRS- P PP P . S0 3 '.'St ESTABLISHED 1889 N Fa: Eo FEFETFET e a8 s e first time since March the| g, wholusle rice index of the National| ,co.0 the umt weel lex “advances 68 1 week foilows exceptionally sharp de- 9% 7 OnioOIL 5% 2 Oliver F: lines d the two precedi clines during 58% 81% Otis Elevator (3% h ago the l.ndex Pt -uq 3}:’1?:.}' yet'ro was 88.9. 814 Curtl 2%| 39 251 Owens Ill Glass (2 of 'ihz-r mw ‘ms‘cl;lfl l'm Cutler Hammer. 204 | 8 ‘ ‘Pacific Coast 2d pf, . 3! rowed mo change. The largest gain |- APpTeTOR RNl 54% Pasinic Gaa & B (1) i "":“%":2’;‘5."..‘.:”1“ stock 1::;‘ 107% ] it ‘88 Packard dMotor 48c) ou b ¥ due'r Eecm'-r prices for whe: Del Lacka & Wn (4). l:k v ;::::ao::t_ f" l\i. Peerless Mo Devoe & Ray A(60c). e ot of T lecaiansons oom: CHET LB oy | IT 383 banney (30> (340 and metals advanced very| 26 ety o 3 Penney (JC) pf A (6) 106 1 Duplan Silk pf (! 008 o ociining | wroups, thel “7aw '8 Drug Coro (4 o sharp 107 7L Dupont de N cut in the prlcu for petroleum, fuel oil| "jgs% 118 'Eastman Kodak (18) 40 goup of textiles dl~ ll!fi 9% Eaton Axle (1.60). llllhfly due reductions in the 85% Eitington-Schild pf.. prlc- for cotton ‘:ed cotton yarns. The S Bu S8 B2 B v 0S Al anclnen 3 inee S Sk = FFEE and hogs. The group of other tood- Detroit Edison (8) FIFET ¥ Bacanenma waBHpm~ - Money to Loan "l".- wiaston '* BRI a8 3 E85e. 53 -_ == & = 2 Pt e o i e SRR Common-Sense Investment North American Trust Shares, the leading fixed trust, offcr 92% Eleo Pow & Lt pf (7) 49% Eleo Stor Bat (5). 30 Endicott-John (3) 90 EngPubSvepf6)... 27% Eq Office Bldg lll). 13% Erle RR. %4 _Exchange Buf (144). 20 ST et Bt ). 16% 4% Federal Berew Wks. . 11% "fl Wat Sv A (l‘“) 36% Fid Ph Fire s ot Coonnluncnunune ann g3~3F%% §283338%: - WooDWARD ‘ BUILDING Fifteenth and H Streets N.W. st wetlitie CARL G. ROSINSKI : Realtor Leasing Representative H 5 BEREEReR 5% §sfees 3214 20% Fourth N INVESTMENT SECURITIES jat Invest 38% llfi Fox Film (A) (Hfi) 43% Freeport-Texas (3 ... ] =1 H & BEFF FF SESIESSITE W8 g * 8520 tETs 3% P S3eze® I g8