Evening Star Newspaper, July 7, 1931, Page 13

FINANCIAL THE EVENING STAR DRUG STORE SALES | REPORTED HIGHER People’s Company Shows $81,527 Gain in June. Other Earnings. BY EDWARD C. STONE. Sales of Peoples’ Drug Stores, Inc., ! for June were reported teday as $1.405,- 548, against $1,324.021 in June, 1930, an increase of $81.527. or a gain of 6.16 | per cent. Company officals also ported sales for the first six months | of the present vear, the total being | $8.602.002, in comparison with $8.211,- | 484 in the first half of 1930. an increase & far this year of $390.608, or retail | sales gain of 4.75 per cent. The drug company's officials expressed keen grat- ification that in spite of the prevailing | depression the sales for the first half | of 1931 have shown a good increase| over the same pericd in 1930 | Several other important ‘companies | also reported June sales today. among | them being the G. C. Murphy Co. June | cales totaled $1.560.353, against $1.288, | 917 in June, 1920, an increas> of s“nn-\ 436, or over 21 per cent. Sales for the | six months amounted o $8.461,792, | compered with $7,101.013 in the like | period of 1930, an’increase of $1,360,- 779, or 19.2 per ce \ Sales of §. S. Kresge for June were | reported today as 8118 8, against £11.400.123 a vear ago. An increase of 495,475 or a gain of 4.3 per cent. For the six months sales totaled $67.238,602, | ageinst £67.457.612 in the same period | in 1930, this being a decrease of $219,- 010, or 0.3 per cent The F. W. Woolworth Co. today re-! ported June sales as $21,978.075, against £20.715.593, an increase of $1.262.482 or 6.1 per cent. for the first, half | year totaled 18, compared | with $131.313.486 in the same months in | 1930, A decrease of $1.037.168, or 0.8 per cent. The June gain of more than | 6 per cent was the first monthly ad- vance this year and also most wiped out the slight decrease in the other five months The McCrory Stores Corporation to- day reported June sales as $3.240,273,| aga 11 a gain of 0.9 per eent. and six months sales as $19.5 154, comp, with 19,410,102, an in- crease of 0.9 per cent. re- | Bank Deposits Slightly Lower. | While the majority cf Washington's | banks had an increase in deposits on the call of June 30, issued yesterday | by the controller of the currency, more complete returns indicate that the ag- gregate deposits of all banks in the city will be smaller than it was on March | 25. the date of the last previous call | ~probably $3.500.000 lower. S-me of the banks not reached befors time vesterday have Jowing deposi Rank Bank East 4 Int Exchanes Morris Plan North Ca press | reported the fol March 25 $833.614 ¢ 874.008 ‘ f Br Wooeridze-Langdon The first figures obtained from all the banks in the city indicaie that tha | savings banks had an aggregate crease of nearly $2.000.000. The mm: for the national banks and for the trust | company grcup was lower than on the | March call and these two groups considerably more than offset the gain made by the savings bank division It will be recalled that the banks fn Washington on March of this year had most money in their | vaults on record, deposits being well over $281.000.000. Before the June call| bankers expresed doubt if this high| figure could be maintained at this sea- | son of the year. Trading on D. C. Exchange. Capital Traction stock showed more &trength on the Washington Stock Ex- [ change today, two small lots selling at 3612 Potemac Electric Power 6 per cent preferred moved at 113',, while the 5'3 Fer cent issue came out at 111% Rallway & Electric preferred again | moved at par on a good volume, 89 shares changing hands in five sales at 100, District National Securities preferred appeared on the board at 68 and 10 shares of Mergenthaler Linotype sold 8t 7712, Real Estate Mortgage & Guar- anty preferred figured in two 100-share sales at 61, Bond trading was light. $1.000 Wash- ington Rallway & Electric 4s regis- tering a sale at 91 and Washington Gas Light bonds, series A. coming out at 1911, on a very small turnover. Financial District Notes. Claude H. Woodward, president of | the Mount Vernon Savings Bank, is tak- | ing his annual vacation Allseashore holiday travel records on the Pennsylvania Railrond were broken over the Fourch, 140,000 passengers being carried to the New Jersey resorts, the officials report The Industrial Savings Bank today reported a gain of $30.825.14 in deposits on June 30 compared with the March 25 call The Prudential Bank reported a gain ©f $41.204.16 on June 30, compared with the last previous call. | Insurance Plans Adopted. At a special meeting of the stock- holders of the Firemen's Insurance Co. of Washington and Georgetown, held at the head office on Seventh street, this noon. the recommendation of the directors for the amending of the char- ter to permit the writing of additional forms of insurance and to increase the capital stock, was unanimously adopted. i SAVINGS HOLD UP Deposits in Cleveland Area Above | 1930. CLEVELA July 7 (Bpecial). Commercial credit extended by banks | continued at low levels in the fourth district in the month ended June 17. Interest rates in some larger cities were | reduced, both on deposits and on some | classes of loans. Discounts at tie Re- serve Bank incireased slightly, but were | Jow compared with other recent years. | Savings deposits at selected banks on | June 1 were slightly smaller than a month earlier, but were still over 1 per cent higher than a year ago. Commer- cial failures increased seasonally in May, but. numberiag 191, were only two more than in May, 1930. Liabilities, however, were much increased. Bank debits de- clined sharply in May and early June, compared with earlier months of this =sar and & year ago Loans on securities made by reporf- ing member banks in leading cities re- ceded in the latter part of May to $664.000,000, the lowest for any weekly Gate since January, 1928. NEW YORK B'ANK STOCKS NHW YORK, July 1 ) counter market. June, —Over-the- Banks. Bid. Asked. o5 . A4 DevosbRarAihnie ~ b bhigadbs M a MW il Tt s 1 1 AR 4 U eI i Note.—All stocks are sold in one hundred share lots excepting those designated by the letter s (80s) (250). ~Prev, 1931~ High. Low. 14% b2 2314 92 109% 100 201 Ry 125 59'a 59 4614 182% 4an 23 294 628 12w 120% £ 15 11w 831y 0% 31y » Alleg Cp 330 ww 513 Amerada Corp (1)... '« Am Bank Note (13).. + Am Tobs « Am Tobacco pf (6) 140% NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct tc The Star Office. Stock and Dividend Rate. Add 00. Hll Diamond Match..... 52 Diamond Mtchpf 1% 1 Dome Mines (1)..... 2 Domn Stores (1.20).. 11 Douglas Afr (11%}.. 11 Drug Corp (4)...... 44 Dupont de Nem (4).. 212 DuPdeNdebpf (6) 1 Wstmian Kodax (187 67 Eaton Axle (1.60)... 85 Elec Auto Lite (6) 7 Slec Boat Elec Pwr & Lt (1) Elec Pow & Lt pt (T) lec Stor Bat (5)... dicott-John (3) Eq Oftice BIdg (2%4). rie RR rie RR 1st p ureka Vac Cleaner Thanks Co pf cfs. rbnks Morse 1.60. ed Lt & Tr (31% nelt. 1 Screw Wka. Fed WatSv A (2.40) Federated Dept Stra. Fid Ph Fire In (2.60) Firestone T & R (1) First Nat Strs (2%). Fisk Rubbet........ - Prev. 1931 Sates— High. ‘Low. 23 4% 278 24% Prev. Low. Close. Close. M 4w 4% 184 181 184 15ts 154 164 Stock ana Bales— Dividend Rate. Add 00. High. Abitibi Pow & Paper. 5 & Abitibi Pwr&Pap pf.. 1 184 Adams Express (1).. 23 167 6 Adams Exppt (5)... 40s 83 88 83 870y Air Reduction (14%) 45 87% 83l 84 87 Air Way Elec Appl.. 3 5 Alaska Juneau (40c) 393 11\ 14 Albany Wrap Paper. 4 R Alleg Corp. 102 Th 13 32 30 30 Alleg Cp$40 ww 5%, 1 Allegheny St (1.20). 108 Allied Ch & Dye (n6) 129 Allls Chalmbers (2).. Am Agri Ch of Del Am Beet Sugar. . Am Br Shoe (240)... Am Brown Bov Elec. Am Can (15). Am Car & Fdry (1), Am Car & Fdy pt () 60 Am Chain2). Am Chicle (13 Amer Col'type (80¢). A Comel Aleohol. . Am European Secur. Am & For Power....1 A Ear F g prihe Fisk Rubber 15t pf.. 60 Ana P AL Foster Wheeler (2).. 67 m & Fo E fon ey 1 A Faw Brantp (1rs J&a Foundation Co. . Am Hide & Leath pf. 3 2 2 AT ATl ¢ Am Home Pr (4.20).. xa8 (3). Am lce (3)... Am International. .. Am La Fr & Foamile Am Locomotive (1).. Am Locomot pf (7).. Am Mch & Fdy 1.40.. Am: Metal Co.....v.s Am Pow & Lt (31)... Am Pow & Lt of (8). AmP &L nf A st (5) Am Ra&Std San 60c. Am Roliing Mills Am Ship & Com Am Smelt Ref ( Am Solv & Chem. .. ‘Am Stl Foundries(i) Am Sugar Ret (5). Am Sugar Ref pf l’) Am Tel & Tel (9) 21 co (16) Am Tobacco B (1 19 %), 137 3z Gardner Motor a Gen Am Tank Car(4) 16 Gen Asphalt (3) Gen Baking (2). en Cable Freeport ec spec (60c). Gen Focd Corp (3).. Gen G & El A (e30c). Gien Miils (3). en Milis pf (8 jen Motors (3). Gen Motors pt (f Gen vut Adv A (4).. Gen Pz Ink (2%) Gen Public Service,, Gen Ry Signal (5) Gen Realty & Util Gen R& Ut pt (e6).. Gen Refractorles (4) Gen Theater Equip.. Gillette Saf Rasor... Gillette Saf R pf (6). Gimbel Broy 3 Gimbel Bros uf (7). Giidden Ca. . Glldden pr pf (7). Gobel (Adolf).. Gold Dust (2%) Goodrich (B F). oodrich B F pf (7] Goodyear Tire&R(3) oodyear 15t pf (7). Gotham Silk Hoslery Graham-Paige Granby Con Min (1). Grand Si1 Strs (h1) Grand Unfon. .. anite Cit teel(2) rant (WT) (1).... Great Northn pf(4) t Nor Ore (2) rt Western Sugar. . «,rlgn\»v Grunow antana 26% Hackensack W (1%) 4'3 Hann Dept Stores. .. 19% 12 Hall (WF) Pr Co (2) 44 245 Harb Walk Ref (2).. 10% 4 Ha n Corp (A).. 119' 111 Hercules Pow pf (7). 10 1033 Hershey Choc (5)... 104 Hersh Choc pf (16). 191 Hollander Sons. .. " Houdaille Hershey. 65 Household Fin pt (4) 6815 Housion Ofl. - 14 Houston Ofl (new).. Howe Sound 5 Hudson & Man (3%). Hudson Motor (1) Hunn Motors o B Am Water Wks (3).. Am Wat Wks cfs (3) t W 1st pf (6) Am Woolen of. Am Writ Paper ctfs, Am Zinc Lead & Sm. Anaconda Cop (1%). 5 Anchor Cap (2.40)... Archer Dantels Mid. Armour of 111 A. Armour ot I B... Armour of 111 pt. . Arnold Constable. Artloom Corpora Associated Appare Ass0 Dry G (2%).... Asso DG 2d pf (7). Atch To & S Fe (10 Atch To&S Fe pt (). Atl Coast Line (7 Atiantie Rening (1) Atlas Powder pf (§). 108 Auburn Auto (£4)... 230 Austin Nichols 1 Austin Nich pr A () 50s Autosales. .. 5 Aviation Corp 6 Faldwin Locomotive 17 Baldwin Loco pf (7). 208 Balto & Ohfo (5).... 108 Balto & Ohio pf (4).. 1 Bang & Aroos (3%4). 2 Barnsdall (A) (1)... 43 Beatrice Cream (4).. 7 Belg N Ry ptpf t4.32 8 Bendix Aviation (1). 80 Best & Co (2) 7 Bethlehem S )e Bethlehem St pf (7). Blaw-Knox (1%).... 2 Bohn Alum & Br1%. 20 Borden Co (k3).. %0 Borg, Warner (1),... 45 Lriggs MIg (11%) Briggs & Strat (2) BKlyn-Man Tr (4). Bklyn Man Tr pf (6). Bklyn & Queens. ..., Ekiyn & Qu T pf (5). Eklyn Union Gas (5) Bruns-Halk-Col. 4 Bucyrus (1). 3 3 3 IRt CeaEts e Budd (E G) Mfg. Y Int Cement (4). Budd Wheel (1)..... Int Combustion. Burroughs A M t1%. 2 2 a 8 Int Comb A Bush Terminal (2%) 3 Harvester (2%).. Bucs Couyer & Biss. Harvester pf (1). Byers (A M). t Hydro E1 A (2). Byers (A M) of { MATCH DYAR) .. It Packing (2). Mer Marina (1). llahan Zinc & Ld.. Nickel (§0¢). . Calumet & Hecla. ... t Paper & Pow B.. nada Dry G A (3) - Int Paper & Pow C.. nadian Pacific 1% . Int Paper & Pwr pf nnon Mills (1.60) . Int Printing Ink pital Admin A. ... 4 IntSalt (3). Case (J 1) (6). « IntShoe (3).. Case (J 1) pf (T) Int Sliver arTrac (3). IntTel & T Inter De Celotex vic ctfs 58 Inter D Stpfxw (7). 208 Colotes ot *Lany s . 3% Investors Equity.... 3 CenvApirbASine T U 2 et (%, 20 i<land CrCoal (43 .. 1 Century Rib Mills. .. 333 Cerro de Pauco(1.50) Certain-teed Prod. .. Cheeker Cab Mfg. Ches & Ohio (2%) Chesapeake Corp (3) Chi & Alton 221y 85 16974 10515 41 3015 oy 328 Sis Central (4 indian Refintng. . Indust Rayon (4).. Ingersoll Rand (4).. Inland Steel (2%) Inspiration Copper. {nterb Rap Transit. 28 68 5 RO%, 0% | lanviile (3) 16 £ IR 64 Sou pf (4) <tadt (Rudolph). ser (1) & Co (1). Kelly-Spring Tire Kelly-Spr T 8% pf.. Haves Wheel Kelvinator Corp. ... )t Coppar (1) W Kinney (GR)Co pf. . Kresgs (55) Co 1.60. . Kresge Dept Stpf... 408 ger&Toll (1.61) 121 c&Bak(1) 5 51 40s 13 64 192 108 14 Chl Great West pt. ity Chi Mil St P & Pac Chi MiI St P& P pf.. Chi & Northweet Cht Pneu Tool pf. ChiR1&Pacim2y) ChiR1& P pf(6)... Chl R 1& Pac pt (7). Ch! Pneu Tocl. .. 2 e o Lambert Co (8). Chi Yellow Cab (3).. 18% 9% Leh Port Cement. Childs Co 12.40). . Ry 4'3 Leh Valley Coal Chrysler Corp (1)... 61 374 Leh Valley (2% City Ice&Fuel (3.60) 6%, City Store Clark Equipme Cluett-Peabody (3).. Coca-Cola (175%). ... Colgate-Fal-P (2%). Colg-Palm P pf (8).. Coliins & Alkman. Lehn & Fink (3) Lib Ow Ford Glai Liggett & Myer (15). Lizg & Myers B (15) Lig & Myer pf (7)... Lily Tulip Cup (1%) 1 Lima Locomot (m2). Collins & Aik pt (7) Liquid Carbonic (3). Colo Fuel & Iron. ... Loew’s Inc (3) Col Gas & El (2) o 3 9 3 Loew’s Ine pf (6% ). Col Gas & EI pt A (6) ; Lott Inc..... Col G & ELpt B (5).. ose-Wiles ( Columbia Graph bée. Lorillard (F) C Col Grapho ctfs 56c. Columb Carbon ()., Comel Credit (2).... Comel Credit A (3).. Comm Inv Trust (). Comel 1T cv pf (e6). Comm Solvents (1).., Comwlth&Sou (40¢). Cinwlth & Sou pf «n Congoleunm-Nairn, Consol Cigars (5). Consol Cig pr pf 8% .160 Consolidated Film. Consol Film pf (2) onsol Gas N ¥ (4). Con Gasof NY pf(6) Consol Laundries (1) Consol Textil Container B Contl Baking A Contl Baking B Contl Baking pf 21 18 NG &EA (%), ille & N'ville (5) 4 1cCall Corp (%) . 4 Mclntyre Pore M (1) Mckeesport T P 15 % Mcliesson & Rob /1) Mckes&RRob pf(3%). McLeilan Stores. ... Mack Trucks (3). Macy (RH) & Co(n3 Mad Sq Garden (60c) Mallison & Co. . Man Elevm g Maracaibo Oil Bxp.. Marine Mid (1.20) Marlin-Rockwell (2) Marmon Motor Car. . Marshall Field (2% ) Mathieson Alkall (2) May Dept Strs (2%). Maytag Co pf (3).... Mexican Seaboard AMiami Coppes Mid Continent Midland Steel (3)... R & Lt pf (6).1008 an & Texas.... 19 an & Tex pf (7) 1 Missourt Pacific. ..., 16 Missourl Pac pf (). Mohawk Carpe: Montgomery W Mother Lode. .. Motor Meter G & EI, Mullins Mfg. Murray Corp... Myer (FE)&Br(2) 1 Nash Motors (4).. 49 Nat Acme. 4 at Bella He 3 3 Nat Biscuit (2.80)... 211 t Cash Register A, 64 t Dairy (2.69). 189 t Dept Store. 1 at Dist 'rod (2) 10 Nat Lead (5). 2 122 Nat Lead pf A (7) 108 141 L P 35 = w o % ntl Motors. Contl Ofl of Del Cont Siare: Corn Produc ‘oty Ine « i Crex Carpet. Crosley Radio. i Cr Cork & Seal 2.40.. Cruelble Sted Cruclble Steel pf (1), Cuba Co. . Cuba Cane Prod. Cuban Dom Sugar... Cudahy Packing (4). Curtis Publish (4) ... Curtis Publish pt (7) Curtiss Wright Corp Curtiss Wr Corp A Cutler Ham 407 20 47 3u 183, 20 130 66 5 165 26% 116% 41 Deere & Co pf (1 Drlaware & Hud (9). Del Lark & Wn (4)... Detroit Edison (8). ., 20 130 R0y 152 130 80y 152 55 186 132 148 153'y P 26m 116% 141 WASHINGTON. 'STOCKS SELL OFF AFTER EARLY GAIN Traders Take Profits as Debt Agreement Is Concluded at Paris. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, July 7.—A sharp brsak was today's stock market reaction to | the overnight announcement that an | agreement_had been reacned on the in- ternational debt proposals. | For a brief period at the opening prices were higher, but before the first hour was over the selling had the upper hand and it continued without inter- | ruption up to the close, the lows of the session being recorded in the iast hour. Tosses in the active stocks ran to 10 | points and over. Auburn Auto slumped | more than 20 points. Atchison broke 9 | points. J. I Case declined almost 10 | points. United States Steel sold well under par and so on throughout the Jist. There was hardly a stock exempt from the trend A good part of the selling came from professional operators for the decline There was also margin liquidation, but it _is doubtful if there was much sac- rificing of investment holdings. The net result was a strengthening of the technical position. | From a consideration of foreign af- | fairs, speculative attention was diverted to the state of business at home. and sentimgnt turned pessimistic again, al- though that might have been accounted for by the action of the market rather than by any tangible events in the business world. It cannot be denfed that the market's reception of the news of the agreement beiween Paris and Washington was disappointing, even allowing for the probability that reac- tion of some kind was in order. It is much too early, however, tn assume that stocks have resumed the decline that was interrupted early last month The opening was slightly higher, a point or so in the more active issues, representing for the most part outside buying on the news from Washington s |and Paris. This phase did not con- tinue long. Professionals offered stocks in large volume and prices fell away rapidly. One of the largest losses came {in J. 1. Case. a stock, which had been reported to enjoy sponsorship of the {operator recently converted from the |bear to the bull side. Case dropped over 5 points beford meeting any im- portant support U. S. Steel was pressed for sale and reacted within a point or two of par American Can. Allied Chemical, Co- lumbian Carbon, Westinghouse Electric |and Johns-Manville were heavily sold, | with losses of 2 to 4 points. The rail- {road shares declined sympathetically. | New York Central was one of the weak- | est members of the group. |FRIGIDAIRE OBSERVES FIFTEENTH ANNIVERSARY | | | Special Dispateh to The Btar. | DAYTON, Ohio, July 7.--A fifteenth anniversar mbilee, marking the brief | span of vears during which the electric ; |refrigeration industry has grown from |a swaddled infant to of the most active and rqbust members of America’s Ibig business family, was formaliy opened yesterday by E. G. Biechler | president and general manager of Frig- idaire Corporation. “ | Participation of the public as well as | the vast Frigidaire family in the United | States is included in the program. the . |announcement stated. and events have | been arranged for every day and eve- | ning of the week. save Sundays. during | July and August. Mr. Biechler issued | a general invitation to the publie to be lfi\l?s(s of thiz General Motors subsid- |iary at any Prigidaire show room during i the event Bibles sold last year were in 644 lan- ' | guages and totaled 11.888.226 copies. | PR O'PPENR T Y Apartment House MANAGEMENT 925 15th St. N.W. MORTGAG EIGHTH YEAR FOUNDATIONS of Fortunes 1903, 1907, 1914 and 1921. stocks are priced too low. But what stocks to choose? growing substantially in value as shows the strides your 264 260 3% 2% 121 ‘Woodward Bldg., 14l | Becure Send for folder “Seven Lea D, 'C., TUESDAY, JULY 7, 1931 STOCK GAINS NOTED Twenty-Five Active Issues Up 13 Per Cent in June. CHICAGO, July 7 (Special).—A sta- tistical picture of the breadth and ex- tent of the stock market rise in June is brought out in an analysis issued in connection with the monthly stock in- dex of Standard American Corporation. Between the high and low points for the month, according to the compil- ations, & rise in excess of $8,000.000,000 in market value was registered in the New York Stock Exchange list. The 25 most _active stocks on the New York board alone registered a rise in value of $1,581,859,156, or 13.4 per cent; while the volume of trading in these 25 lead- ers increased by 19 per cent over the previous month ‘The June acti February. COAL OUTPUT GAINS. By the Associated Precs. Output of bituminous coal increased 16 per cent during the week ending | June 27, as compared with the previous week. ~ Total production for comparable periods, as measured by reports to the Bureau of Mines, follows: Week ended June 27..... 6 Previous week. ... Same weck last year 742.000 tons .. 6.635,000 tons 7,995,000 tons U. S. TREASURY BALANCE. ‘The United States Treasury balance announced today as of close of business July 3 was $448.047.971.70. Customs receipts for the month to date were $3,156,520.84. Total ordinary expendi- tures, $13.311.662.31 Money to Loan by first deed of trust Trevalling Intarest and_eommimsion, - Joseph I. Weller ;% ™ Money on Hand to Loan on First Deed of Trust 6 Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. Authorized Service United American Bosch Magneto Corp. (Robert Bosch & American Bosch) & Splitdorf Magnetos MILLER-DUDLEY CO. 1716 14th St. NW. North 1583-4 INVESTMENT SECURITIES and SERVICE U. S. Government, Federal Land Bank, Railroad and Utility #2223 Listed, Preferred and Common Stocks, SeasonedIssues, North American Trust Shares KNAPP & Co., INC. 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