Evening Star Newspaper, June 30, 1931, Page 13

F UPSWING IN BANK | CLEARINGS SHOWN June Repbrt Makés Better Comparison With 1930 Figures Than May., IN BY EDWARD C. STONE. Bank clearings in Washington in June showed a substantial improve- ment over clearings in May, according to the monthly report made public this noon by the Washington Cltlflng House Assoclation. Business men an bankers who consider cancelled checks as one of the best barometers of busi- ness conditions, will see in the figures a swing toward much better trade and economic conditions in the Capital. Bank clearings in this city in June totaled $115,114.393.13 in comparison with $116.280,346.27 in June, 1930, a decrease of only $1.165953.14. In the previous month of May clearings were only $102.346,949.55, against $113.055037 in May, 1930, a difference of $10,708.088. ‘The fact that this spread has been . mearly closed during the month now nding is most encouraging. It is pos- sible that July may see an actual up- turn to clearings in comparison with the same month last year. Total clearings in the Capital for the first six months of the present year amounted to $649,794,097.74, against $679,250,208.88 in the corresponding six months of 1930. Clearings by months, compared with the same months in 1930, are as follows: 1931. $109,764.614 96,742,175 112,443,159 113,382,805 102,346,949 1930. $118,219,264 96,545,212 114,113,696 118,036,652 113,055,037 115,114,393 116,280,346 ‘Total ......$649,794,007 $676,250,208 January .. February March ~Ps High. ANCIAL/ Note.—All stocks are sold in one hundred share lois excepting those designated by the letter s (80s) -(250s). 1031~ Low. 14% 52 3814 NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. Stock and Dividend Rate. Add Abitibl Pow & Paper Abitibi Pwré&Pap pf.. les— 00. High. Low. Close. 3% 2 5 5 15 3 134 1 37 Adams Express (1).. Alr Reduction (14%) 24 Alaska Juneau (40¢) 174 lleg Corp. 55 ). Alpha Port Cemt (1) Am Beet Sugar pf. Am Brown Bov Elec. 1 Am Car & Fdy pf (1) 908 Am Chain 2). s 8 Am Chain pf (7). Am Chicle (3) Am Comel Alen} Am Encaustic Til Am European Secur. Am & For Powe: Am & For Pw f (7). Am & For Pow 24 nf. Am Haw St'ship (1). ‘Am Hide & Leather. . Am Hide’& Leath pf. Am Home Pr (4.20).. Am lce (3). Am International. Am La Fr & Foamite 14 Am La Fr & Foam pf 1008 Am Locomotive (1).. 1 1 1010 Am Safety Razor (§) Am Shipbuilding (5) 20 Am Smelt Ref (2)... 45 Am Sm & R 2d pf (§) —Prev, 1931~ Stock and Sates— High. Low. Dividend Rate. Add 00. High. 78% 61% Drug Corp (4} 15 TN 107 71 flwfll de Nem (4) 8 186% 118 Ea n Kodak (18) 42 s 1 ‘201 Low. Close. % T1% Prev., 88 i 89% rbanks M pf (7) Mot Truck (40c) Wat 8v A (3.40). tone T& R (1) t T & R pf (6) First Nat Strs (2%). Fisk Rubber........ Florsheim Sh pf (8).300s Follansbee Bros.... 2 Foster Wheeler (2). 67 Fourth Nat Inv mbie 6 Fox Film (A) (234). 1}: Freeport-Texas (3).. i _ Gardner Motor. Gen Am Tank Car(4) Gen Asphalt (3) Gen Baking (2) Gen Bronze. Gen Cable A General Cable pf. Gen Cigar (4) Gen Elec (1.60 - Gen Elec spec (60c). Gen Food Corp (3).. 4 Gen G & El A (e30c). Gen Ital E4 E1 m2.61, Gen Mills (3). % Gen Motors (3).. Gen Motors pf (§) Gen Out Adv A (4). Gen Public Servic Gen Ry Signal (5). 2 0 Gen Refractories (4) er Equip.. af RasOr... illlette Saf R pf (5). 130% % 1 THE EVENING. STAR, WASHINGTON, Prev. Close. % 20 151% % 4% 34 429 89% 99 57% 25% 3% s | American Can. b5 S 028 STOCKS SELLOF INDRAGGY MARKET Ahefnoofi Rally Fails to Hold. Paris Conference Infiu= ences Trading. ' BY GEORGE T. HUGHES. Special Dispatch to The 8t NEW YORK, June 30.—Under mod- erate pressure in the first hour and again toward she close, the stock mar- ket left off somewhat lower today. The early reaction was followed by a rally and the market most of the day was at or above the pi g _close. It was purely professional ard without significance, except as it represented now hope and now fear regarding the situation abroad. Copper stocks were freely offered in the last hour on a falling off in de- Briet_ period of sirength around.middag: lef period of stre around midday, but tmy reacted before the close.. U. 8. Steel sold below par soon after the o] ing again just before the end. olume was moderate all day and slightly larger on the decline than on the advance. Selling came Into the market over- ":fl“ on the prominence given to the difficulties in reaching an agreement between the Prench cabinet and the Washington administration over the in- ternational debt moratorium plan. This selling was supplemented by offerings from speculators for the decline, but the latter were very cautious, selling only in small lots and making haste to cover if and when the market showed resistance. In the first hour U. S. Steel dipped under par, off pearly 5 points from its recent high, arid Eastman Kodak drop- ped 4 points from Monday's close, while General Motors and other active issues went down 1 to 2 points. For a time the market was quite TUESDAY, JUNE 30; 1931. INCREASE INFOND FOR ROADS LRGE La’rger HiohWay Construction Program Is Indorsed as Economy Movement. BY CHAS. P. SHAEFFER, Associated Press Financial Writer. n_April An increase in appropriations for |at 1203, American Can at 113, General highway construction was urged as an l(ownap er ho economy move today by W. R. 8 pnfldegt of the American Road ers’Associat on. Smith said State and local hlg nditures for 1930 were $1,552,04! , while the estimate for this year | There is no supply and none comes in was $1,550,881,000. “Trafic demands are increasing each to the increased speeds of dded. ~ “Roads safety at low speeds cted for safety at les, constructed for must be re higher s) E “Safety with reasonable speeds is what every one wants on the roads. A motor vehicle ‘cannot make high speed with safety and comfort over an in- adeguate hl‘hw-{. “Bond issues for road improvements permit the construction of a large mile- age of modern roads immediately and serve to reduce congestion and provide e Géneral tncreate 1 ““The general incres n rit; and the profits from uducedm::g:ecl! ation on motor vehicles and reduced operal costs are far 4n excess of the bond interest charges. The cost of the improvement is spread over a number of years and is usually met by the mo- tor vehicle owners. “Economy in roads and streets is brought about by reducing losses. This is not merely a matter of reduced ex- penditures. ‘On the contrary, reducing expenditures on roads means increasing the losses under the present condition of lack of safety and the costly conges- tion of highways, ith, | 182, New York Central 100},, Pennsyl- ild- | vania 54!, and Union Pacific at 170. hway | extreme difficulty has been ex| FINANCIAL IN MARKET REPORTED Spécial Dispateh to The Star. NEW YORK, June 30.—It is esti- mated in Wall Street that only about one-third of the short interest in the stock market has been covered during the rally of the past week. Short cons« tracts are still out in large amounts for the account of the leading bear traders, ic 15 said, and there is also a widely distributed short interest among the public. The market has not had enough of a t to force those who sold stocks as late as the end of April to t them back before having a loss on O 30 U. 8. Steel was quoted ‘st 41Y, American Telephone ‘There are half a dozen stocks in which rienced by shorts in getting back their stocks. sight as bids are steadily advanced. PARIS BOURSE PRICES. PARIS, June 30 (&) —Prices were firm on the Bourse today. Three per cent rentes, 87 francs 80 centimes Five per cent loan, 103 francs 15 centimes Exchange on London, 124 francs 271, | centime ‘The dollar was quoted at 25 francs 543, centimes. T Money Available for F you are wanting to make (whether original or to r R *#% A_13 |LARGE SHORT INTEREST | jyou Terune i Tasaws Cowur e Due January 1, 1960 “Cous of these del i Treasurer 195 2 ot in Boston st his offce, 125 Milk Street. H. BLAIR-SMITH, Treasurer. You are a user of large office space— You desire your everything”— You want that office in date Fire-proof Building— THEN Inspect the entire Fourth Floor (will divide) and the beautiful large first floor office at 1415 H Street Northwest— “RENTS YOU WILL LIKE.” office “near up-to- Walter Hermann Leasing—Management—Sales 1415 H Street Northwest NA. 4493 T TR Mortgage Loans a FIRST TRUST LOAN efinance a maturing one) we shall be glad to have your application—and promise our very best attention—and with the assurance that, if approved, the money is available without delay. land and Virginia—for periods of 3,5 or 5%:% RANDALL H. HAGNER & COMPANY MORTGAGE LOAN CORRESPONDENT ,@%.‘%M%m/ay 1321 Connecticut-Ave. active, and stocks came out in fairly large blocks, but before noon the de- cline had been halted and the list be- gan slowly to retrace the lost ground. The outstanding speculative leader was J. I. Case, sponsored by the new head of the bull faction. There is sup- posed to be an extraordinarily large short interest in Case, and inasmuch as there are only 194,960 shares of the common outstanding, with a negligible amount of preferred, the stock responds quickly to any increased demand. Be- fore noon Case was only fractionally under the best of the current move- | ment. Johns-Manville was another | stock that acted as though commit- | ments for the decline were being retired B under difficultie: C. & P. DIRECTORS - PLAN EXTENSIONS Board Votes $508,405 at Meeting: Today for Conduit and Cable Work. Gimbel Bros uf (1) 10 years; and the rate will be only Glidden On. Gobel (Adolf) Gold Dust (2%) Gold Dust pf (8). Goodrich (B F' Goodyear Tire&R (3) Goodyear 1st pf (1) Graham-Paige. Granby Con Grand Union. Grand Union p ranite City Steel( rant (W T) (1). NEW YORK BANK;’OCKS NEW YORK, June 30 (#).—Over-the- counter market: s s & C. & P. Phone Earnings Up. Telephone operating revenues of the Chesapeake & Potomac Telephone Co. for May amounted to $788,329, against $748.672 in May, 1930, the report of operations just filed with the Public Utilities Commission shows. The total operating income after deducting taxes and uncollectible was $206,697, against $147468 a year ago. ‘Telephone operating revenues for the five months ending May 31 amounted to $3,836,684, as compared with $3,- 615.744 for the same period last year. Total operating income after deducting taxes and uncollectible for the first five months of this year amounted to $942,513, as compared with $706,981 for the first five months of 1930. Balance net income in May was $151,595, against $104,335 in May, 1930, and for the five months ending May 31 amounted to $742,100, as compared with $541,882 for the same period last year. Taxes in May were $56,214, as compared with $49.123 for the same month last ye: Taxes for the first five months of this year were $278,- 409, an increase of $40,431. Capital expenditures for new plant and equipment added to the company’s system in the District of Columbia for the five months ending May 31 amounted to $882,524. Gross retirements during this period were $480.343, making net | additions $402,181. Net additions to plant for the 12 months ending May 31 were $911,499. Washington was served by 172474 telephones on May 31, 3,994 having been added to the system since January 1. In May telephone users made 19,471,000 ealls, which was an increase of 5.3 per cent over those made in the same snonth of 1930. Fifth District Business Reviewed. According to the Federal Reserve Bank of Richmond, there has been a Tnoticeable return of col lence during the past week in the fifth district, and while business continues spotty, the outlook for July is said to be better than would have been expected a month ago. Wholesale trade has not shown to as good advantage as the retail trade and will be longer in feeling an upturn.| ‘Wholesale figures announced by the Richmond Bank show trade was less in volume in all lines in May than in the same month last year and that shoes are the only reporting line to have a | heavier volume in May than in April. Stocks on the shelves of all lines were #maller at the end of May than a year ago. Wholesale collections also slowed up curing the month, the reports from 65 firms indicate. Essentially an agricultural district, the crop prospects are reflected sharply In trade conditions. Farmers are buying | more than at tkis time last year and their activities are offsetting some of | losses from industrial curtailment. Trade was maintained on a moderate | #cale in the Southeast last week, and | increased building activity was indi- | cated by heavy orders, but drought con- tinued to damage crops. The first trainloads of Georgia peaches and watermelons moved dur- ing the week. According to reports, | both crops will be materially reduced unless there is more rain. Cotton and corn have not suffered uch where well cultivated., but nearly s'll! of the sweet potatoes, pimentos fand tomatoes have died. Department store sales in the Atlanta .Ei‘s:flct are still above the 1920 aver-| Am St Foundries(1) Am Stores (12%). Am Tel & Tel (9) Am Tobaceo (16) Am Tobacco B (16).. Am Water Wks (3).. Am Woolen. Am Wbolen pf. Bid. Asked. 49 Decatur 3600 America Chase e Chat Phenix . . Commercial Loans will be considered for apartment house, busi- ness, residential and office building prop- erties in Washington or in nearby Mary- O OO Natl City Am Zinc Lead & Sm.. Public ... Anaconda Cop (1% )+ Anaconda W &C (1). Anchor Cap (2.40)... Andes Copper. .. Archer Danieis Ml Armour of Del pf (1) 4 Armour of Il A..eve Armour of 1L B. Armour of 1l pf. Associated Appare! Grt West Sug pf (7). Grigsby Grunow. Guantanamo Sugar. . Complete Investment and Brokerage Service Copy of Our “Fortmightly Review” Furnished on Request G. M.-P. MURPHY & CoO. Members New York Stock Exchange 1510 H Street Connecticut at K rving .. Manufacturers Hahn Dept Stor New York . Hall (WF) Pr Co (2) Harb Walk Ref (2) Harbison W pt (6). Hartman Corp (A). 4 Hayes Body E Hercules Mot Co 80e, Hercules Pow pf (7). Hershey Choc (6) Hollander Son Furs are being carried by al from Northwest territories lyn é‘;‘:ll : t Atch To&S Fe pf (5). to Winnipeg to be sold uction. Atl Gulf & W 1 pf (5) Atlantic Refining (1) Auburn Aute (£4)... Austin Nich pr A (3) Autosales.... Aviation Corn filoney to Loan " aterest Jol;;i; I Additions and betterments to the | | telephone system in Washington au- thorized by the board of directors of the Chesapeake & Potomac Telephone Co. at its regular monthly meeting held today will involve expenditures of $506,405. This brings the total amount authorized for similar work in the Dis- trict so far this year to $2,551,590, ac- | cording to a statement made by John | A. Remon, general manager. | The projects authorized include un- | derground conduit and cable extensions | in the Cleveland and Georgia central | office areas to provide additional facil- | ities tn the vicinity of Upton street east | of Connecticut avenue northwest, and | Wisconsin avenue and Thirty-fourth street to Hall place, and along Kennedy street, east of Georgia avenue, to the District-Maryland line. The installa- tion of improved storage batteries in | thod west central office is also author- || ized. Included in this appropriation is the || routine construction estimate for the‘; third quarter of the year. Under this || project extensions will be made to the | underground conduit and cable system, installation of central office equipment | and telephones and private branch ex- | change switchboards on the subscribers’ | &remuu in every section of Washing- n. 5t Dal Houston Of) Howe Sound (2). Hudson & Man (3% ). Hudson Motor (1). Hupp Motor: 1llinois Central (4) Indian Motor Cycle Indian Refining Indust Rayon (4) Ingersoll Rand (4).. Inland Steel (2%). Inspiration Copper. Interb Rap Transit Interiake Iron. Int Bus Mach (né). Int Cement (4). Int Combustion. .... Int Comb Eng pf.... Int Harvester (2%).. Int Harvester pf (7). Int Hydro EL A (e2 int Match pf (4). Int Nickel (60¢). Int Paperpf. : Int Paper & Pow A. Int Paper & Pow C. , Int Paper & Pwr pt Int Salt (3). int Shoe (3). We Recommend—a, We Recom 4 an Outstanding Irving Trust Co. of N. Y. This great bank has paid dividends without interruption for 80 years and is currently quoted at the extreme low level of 34-36 per share. Special analysis fur- nish on request. Robert C. Jones & Co. “Specialists in Bonds and Bank Stocks™ Shoreham Bldg, Met, 2022-23 Bamberger pf (6%). Barnsdall (A) (1)... Beatrice Cream (4). Belg N Ry pt pf 14.82 Bendix Aviation (1). Best & Co (2) Bethlehem Steel (). Bohn Alum & Br1%. Borden Co (k3) Borg, Warner (1).... Briges MIg (11%)... Brockway Mot pf. BklynsMan Tr (4). Bklyn Man Tr pf (6. Bklyn Union Gas (§ Bruns-Balk-Col. Bruns Ter & Ry 8. Budd Wheel (1). Bullard Co.... - Bulova Wateh (1%). Burroughs A M t1% . Bush Terminal (2%) Bush Term deb (7) Bush T Bldg pf (T).. Butte Copper & Zine. Butterick Co, Byers (A M). Calif Packing (2). 2315 Calumet & Arizona Calumet & Hecls Canada Dry G A (3).. “anadian Pacific 13 . Cannon Mills (1.80) .. Car Clin & Ohio (4).. Case (J 1) (8) Caterpillar T Celanese Corp. .. Celotex Co p! Cent Aguirre As 1% . Century Rib Mill; Cerro de Pesco(1.50) Certain-teed Prod... Cheeker Cab Mfg Ches & Ohio (3%). Chesapeake Corp (3) Chi & Alton pf. Chi Great West pf... Chi Mi1 St P & P pf. Chi & Northwest 14). Chi Pneu Tocl. ..... Chi R1& Pac(m2¥%) WASHINGTON Telephone National 9600 New York Philadelphis Washington Richmond 4l 2 Baltimore London Boston PROPERTY MANAGEMENT Apartnieht House: M_ANAGEMENT OUR management of property nually, s bt brefes (malk) i —especially of apartment age 65, yields nearly 129%). houses — so regulates income |l Send us the Date of || s = by d and expense that the property |l Your Birth and well send can easily afford the cost of re- s :,"""p‘"e pHELEb newals and replacements that are needed to keep up its ANNUITY standing. Week ended June 20, 6,644,000 tons. —as your case demands, and It. takes experience to know Previous week, 6,674,000 tons. |l ‘as you elect. No Medical what to do, and how to do it— k 1 * 7,998,000 tons. | E xaminati saty. 2 Same week last yea: | Examination necessaty and we’ve had exnctly that train- SILVER QUOTATIONS. | M. LeROY GOFF ing for a third of a century. NEW YORK, June 30 (#). r sl v o Sl B.' F. SAUL CO. -Bal ver steady and unchanged at 20%. Insurance Ezclusively, Over 20 Years 925 15th St. N.W. Security for Your Old Age We offer ANNUITY Con- tracts assuring you a fixed income, payable Monthly, Quarterly or Semi-An- Investors Equity Island Cr Coal (4). 36'a Jewel Tea (4) 80% 40% Johns-Manville (3) 126 105 Johns-Manv pf (7).. 30s 123' 1161 Jones & Laug pf (7). 20s 2 Karstadt (Rudolph). 2 1% Kelly-Spring Tire 10 9% Kelly-Spr T Kelvinator Corp Kendal: Co pt (6) Kennecott Copper (1) Kinney (GR)Ca pf.. 1108 < Dept Stores. 100s ge (S8) Co1.60. 3 Kreuger&Toll (1.61) 134 Kroger Groc&Bak(1) 35 57t COAL OUTPUT DECLINES. By the Associated Press. Output of bituminous coal declined 0.4 per cent during the week ended | June 20, as compared with the previous | period. Total production, for compar- | able periods, as measured by reports to the Bureau of Mines, follows: 108 1127 9 Lehman Corp (3) Lehn & Fink (3). Lib Ow Ford Glas: Lizg & Myers B (15) Lily Tulip Cup (1%) Lima Locomot (m2). Liquid Carbonic (3).. Ine (3).... Annual receipts of the British post office department have increased $12,- 500,000 in the last six years. Childs Co (2.40). Chile Copper (1% Chrysler Corp (1) City Ice & F pf (6%) City Stores City Stores (A). ca-Cola (17T%).... Colgate-Pal-P (2%). Colg-Palm P pf (6).. Collins & Alkman. 1ins & Aik pf (7). Colo Fuel & Iron. Col Gas & Kl (2). Col Gas & E1 pf A (6) Col G & El pf B (5) Columbia Graph 56 “ol Grapho ctfs 56e.. Columb Carbon (). Comel Credit (2) 4 Comcl Credit A (3).. Comcl Cred 1st (834) Comcl Cred pf B (2). Comm Inv Trusg (3). Comm Solvents?1).. Comwlth&Sou (40c). Cmwith & Sou pf (6) Congoleum-Nairn. Consol Cig pr pf 6% . Consolidated Film. Consol Film pt (2) Consol Gas N ¥ (4). Con Gas of NY pf(5) Consol Laundries (1) Consol Texult . Container Corp (A) - Nat’l 2100 , and wholesale stores report in-| reased business. i Bank Stocks and Earnings. “How can banks show any consid- erable earnings in view of the present pxtremely low money rates?” A New | Yor!: statistical house has made a sur- vey states that New York banks, as a class, are not only making money. but their margin of profit on invested assets is about normul. The survey adds: “When interest rates are normal & conservatively managed New York City bank usually averages a gross return of about 5 per cent on its invested as- sets and pays an average of about 2 per cent on deposits. The difference, amounting to about 3 per cent, is the gross profit or spread. | “During the six-year period ending with 1929 leading New York City banks operated on about this basis. Their | average return on Invested funds dur- | ing these six years was approximately 5 per cent and, as 2 per cent was consistently paid on demand deposits and a higher rate on time deposits, the average cost of their deposits was a little over 2 per cent. “Since the first of this year interest rates paid on demand deposits by New York City banks have been twice re- duced—in February, from 1> per cent to 1 per cent, and late in May, from 1 per cent to one-half of 1 per cent, while interest rates on time and thrift weposits, which' bear a higher rate, Dave been reduced proportionately. “Based on information obtained from authoritative sources, we estimate thet at the present time leading New York City banks are paying an average rate of only about three-quarters of 1 per cent on aggregate deposits, and that they are receiving an average return of*about 3% per cent on loans and investments.” Financial District Comment. Arthur Foraker, William J. DuBose, Harry E. Moore and William R. Ham- mil], are now associated with Auchin- Ccloss, Parker & Redpath, the ‘Washing- ton business of Eastman, Dillon & Co., been taken over several days ago. ‘Many local insurance men are plan- ning to attend the forty-second con- vention of National Life Underwriters’ Association to be held in Pittsburgh, September 23-25, at which lead<rs in the business will make up the program. The Mercantile Trust Co. of Balti- more, has declared the regular quarterly dividend of $3.50 a share, payable June 30 to stock of record June 29. MORTGAGE LOANS NORTH AMERICAN TRUST SHARES Semi -Annual Distribution 30 Cents per Share Payable June 30, 1931 With a Valuable Reinvestment Privileg: Coupons may be collected and reinvestment rights exercised through our office KNAPP € Co,, INC. INVESTMENT SECURITIES Washington Office, Shoreham Building Telephone Motropolitaw 1523 Lorillard (F) Co. 25 LOuG&EA (1%). 614 1. ville & lle (5). 8ix Ludlum Si McCall Corp (2% Mclntyre Pore M (1 MclKeesport T P t5% McKesson & Rob (1) McKes&Rob pf(3%) McLellan Store: Mack ‘Trucks (3). Macy (RH) & Co(n3) Magma Copper (1) Manati Sugar ManElevmg ..... Maracaibo Oil Exp, Marine Mid (1.20 M 5 1 19 36 26'% 17 FINANCING AT LOW COST ® First Mortgage Funds (Three Years or Longer) é Loans on residence and busi- ness properties in the District of Columbia and nearby Maryland suburbs . . . Ample fands, lower interest, prompt ap- provals, valuable prepayment privileges. Three-year loans on newer properties without amortization 1% H. L. Rust Company ESTABLISHED 1889 1001 Fifteenth Street National 8100 ¥ Martin Parry Mathieson Alka May Dept Strs (2%). Maytag Co 1st pf ( Mexican Seaboard. .. Miami Copper, 3 Mid Continent Petm. Midland Steel (3).... Mihn Moline Pow. MSP&SSMIisd (4). Mo Kan & Texa Mo Kan & Tex pf (7) our} Pacifie. dilssourf Pac pf Monsanto Ch W(1% Montgomery Ward, Mother Lod Motor Meter Mullins Mfg. 4 Munsing, Inc (2) M F. B. KEECH & COMPANY Members of New York Stock Exchange Washinston Stock Exchante Bhitazo Stock Exchanee New York Curb Ll:.glnl Cotton 1at ohll‘«ifl ard of Trade New York Cotton Exchanse ‘New Orleans Cotton Exchanse New York P Winnipeg Grain Exchn) New York Eroduce Exchangs N ar Exchange, Inc. Rubber of N. Y. New' York Cocon Exchange, Tnc. . New York Hide k: Minneapolis. ber_of Commerce National Me! 3 g fl%fip otion EXcnanee 4ssos. Members) STOCKS BONDS COMMODITIES DIRECT PRIVATE WIRES -We are equipped lé handle promiptly orders on the leading exchanges of the world. Corn Produc Coty Inc. Cuba Co e | Cuban-Amer Sugar.. 13 Cuban Am Sugar pf, 170s Cuban Dom Sugar. 1 69 g 112% Curtis Publish pf (7) 214 Curtiss Wright Corp Nat Dist Prod (2).. 71 Lead 15 Nat (5) e Nat Pow & Lt (1).... Nat Supply (4) Nat Surety (2) _ NatTea (1) = Deera & Co pf (1. . Drlaware & Hud (9). Del Lack & Wn (4).. Detroit Edison (8) Diamond Mateh. . ST Dlamond Mtch pf 1% Dijon, France, has & strike of talkie 13% 8% Dome Mines 1). . edhibitors who wish & reduction of the : 24 144 Domn Stores (1.30).. 22 198 157% 107% 102 45% 195 140% 23 14% 26 24% H CORNER 17TH ST., N. W.,, WASHINGTON NATIONAL 6245 Chicago Philadelphia Brooklyn Detroit ' Winnipeg 4 NY Airbrake (1), 71% N°Y Central (6). 2. 83 40 6 ;;'fi 227 147% N'Y & Harlem (5)... 20s - —— 806 . wmigudé. . $Oontinued o Page IQ‘ New York Providence