Evening Star Newspaper, July 14, 1931, Page 15

FINANCIAL, Money to Loan Secured by first deed of trast ured by 8 Srast on rest betatd, Joupl;l. w S tren MONEY TO LOAN ON D.C. REAL ESTATE No Commissions or Renewals Received by Private Wire Direct to The Star Office CHICAGO, July 14 (P).—Persistent |35 neifers, good and choice, 550-850 hedging AN egainst rural purchasss pounds, 7.25a8.75; common and medium, of newly harvested grain more than wiped out wheat gains today. Elimina- | 4.00a7.25; cows, good and choice, 4.508 tion of short selling of late had left | g00; common and medium, 3.5084. the market in a position to be easfly [ /0" orTly itrer 22503.50; bulls influenced. Pit observers sald profes- | (76, SUNEE B S0V, 4" and enotee sional speculators hed practically ceased | (FeA¥IINgS XeliKed), god to operate on the short side of the mar- “o_“-” g ket owing to the low prices prevailing. | iioce%8 f006°60. “edium, * 8. Low. Cloje. | cull and common, 4.5086.50; stocker and feeder cattle; steers, good and choice, 500a1,050 pounds, 5.75a7.00; common and medium 4.25a5.75. Sheep—Receipts, 10,000 head; most Classes steady to strong; mative lambs sl higher in instances; rangers un- d; good and choice natives, 8.00a8.50; | outside price paid by city butchers and | yard traders; lambs, s 1 yard traders. lambs, 90 pounds down.|| Columbia Permanent [Ei0arge: ail “weigna. comtmon; 4508 Building Association 733 Twelfth St. NW. usands. 27 Alabama 4'a8 Altbama s juminum Co 58 '83. Stodk/and Dividend Rat Int Utilities B.. . Int Uil ptpf (7). Interstate Equities. Inter Equ conv pf(3) Itallan Suverpow A.. Italian Superp war. Kolster-Br (Am Sh). Land Co of Florida. . Lefcourt Reaity 1.60 4 Leh Coal & Nav 1.20. Lone Star Gas n §3. % Louisiana Lan & Bx. Magdalena Svnd. ... May Rad & Telew(1). Mead Johnson(t4%) Memph N G Co (80¢) Mesta Machine (2). . d W 8t Ut ( Note—All stocks are sold in one hundredssnare low excepting those designated by the letter s (803) (250s), which shows those stocks were sold in odd lota. ~Prev, 1081~ Stoek and Bales— High. Low. Dividend Rate. Add 00. Open. High. Low. Close. 41 2% Aero Supply B.. 215 2% 2214 11% Affilfated Prod 1.60, 108 100 Ala Pow pf (6) L1258 1154 Ala Pow cum pf (7). 508 5% Allted Mills (60c)... 1 Aluminum Co of Am 500 Alu Coof Am of (6). Aluminum Ltd Bwar, Aluminum,Ltd C Alyminum,Ltd D Am British & Cont Am City PAL(A) a3.. Am Cit PAL Bb10%, . Am Com P A (b10%) Am Cyanamid Am Dent Stores. ... Am DT NJ ev pt (1) Am Equities. . Am For Pow war Am Founders. Am Gas & Elec ( Am Gas & El ot (6).. Am Invest war...... Am Invest Inc (B).. Am Lt & Trac (2% Am Marscaibo Am Potash & Ci 4 Am Superpcw (40c). Am Superp st (6). . Am Ut&Gen cu pf(3) Am Util&Gen (B)vto Anglo Chil Nitrate. . Appalachian Gas. . Arkans Nat Gas A. .. Art Metal Wka (800) Asg0 GEEL (A) (a1). Auto Voting Mach. .. Auto Vot M ev pf ot. Axton Fish To A 3.20 Babeock & Wil (1) Bahia Corp. .. Bigelow-Sanford. Siue Ridge Corp. Blue Ridge cv nf a3, Borne-Scrymser Co. | Rrazil Trac Lt&P(1) L) 8 Brill Corp A (Me). .. Bt-A T cup B 97 710e. Burco Inc ev pf (3).. Camden Fire Ins (1). Canada Marcon!..... Cent Pub 8vcA b10% Cent Stat El (b10%). Centrifug Pipe (60c) Chain Store Devel. .. Chain Stores Stock. . Chat Ph Aln.v (1).. i Cities Service (z20¢) 4 Citles Serv pf (6)... Cit 8v pf B (60¢). ... Clauds Neon Lts. Ine Clev El 1llum (1.60). Claveland Tractor. .. Col Ol & Gas vte. ... Co Plcture vie (T5c). Cmwith & Sou war. . Com Wat Ser g12t¢ Consol Copper. ... Con Gas Balto (3.60) Consol Gas Ut A 2.30 Cont Shares conv pf. Cooper Bessemer. Cord Corp. ... Creole Petroleum. Creseon Consol (4c) Crocker Wheeler. ... Dayton Alr & Eng. Bales— Add 00. Open, High. Low. Close b 8% 8y 8% 3 93% 2 2 20% kY 1% bLY " THEN SELLS OFF Yesterday’s Trend Reversed. German Shares Reach New Low Mark. o 2l £xc 34 1% 1% % % 2214 17% e e et H . 2gm A1 Before Renewing Your BY JOHN A. CRONE. Present Loan Consult Bpecial Dispatch to The Star. NEW YORK, July 14.—Reversing th trend of Monday, stocks on the Curb Exchange today cpened down, quickly rallied and then gradually relapsed as the session progressed. The usual market leader, Electric Bond & Share, ‘was down almost a point. Cities Serv- fee moved within a half-point range. Hugo Stinnes Corporation, the first German shares to come out, sold off a point to 2, a new low. North European Oil likewise eased. Other German _issues were slow to appear.; In the British group Utilitles Power & Light common and Brazilian Traction ‘worked lower. American & Foreign Power warrants continued to reflect disappointment over the earning report. International Superpower was virtually unchanged, but International Utilities pricr pre- ferred was a shade higher. Dresser Manufacturing sold down more than & point following publication of its half yearly stat-ment showing net of $411,009, against $414.692 for the same 1930 period. Cooper Bessemer also was heavy. United Foumtders Corporation was a trifle lower in line with many oth'r trusts, despite its announcement that consolidated asset value of May 31, 1931, wes $5.80 a common share and on June 30 was $7.31 a share against $21.14 & common share on May. 30, 1930. Amer- fcan Found-rs. a subsidiary, reported earnings of 7 cents a common share for the first half year. Department and chain stores were a bit more active than usual, but moved irregularly. American D*partment Stores eased while Rike Kumler gained a point. J.J. Newberry declined almost & point. ‘Teck-Hughes, which has failed to participate in the rise of gold mine shares, though it is estimated earnings will be around 70 cents a share for the fiscal year ending August 31, 1931, was up slightly. Copper shares during the forenoon were virtually neglected, and even zinc issues failed to respond to news of the workings of a world zinc cartel. Parker Rust Proof. with a dip of 3 ints, was one .of the widest movers n the specialties. Aluminum Co. of America retained that position in the higher-priced industrials. Mesta Ma- chine opened oft 11, points A few scaticred industrials, such as Plymouth Cordage and Bigelow-Sanford Carpet, netted gains of a point or more. Lehigh Coal & Navigation lost its re- cent advance. Axton Pisher, the only active tobacco stock. moved higher. Prospects of further restriction meas- ures aided some of the oils. Solar Re- fining and Standard Oil of Ohio were both up a point. Vacuum Ofl at times was lower, but Gulf Oll dealings rose more than & point. (Copyright. 1931) BEP> >>2>>>> December ‘% | CHICAGO LIVE STOCK MARKET CHICAGO, July 14 (#).—Hogs—Re- ceipts, 17,000 head, including 2,000 di- rect; uneven; steady to higher; some heavies 7 more; packing sows_sf bulk, 170-220 pounds, 7.40a7.50; 7.55; 230-330 pounds, 6.00a7.5( 6.657.18; light lights to 7.50; sows, 4.3525.65; choice, 140-160 pounds, 7.1 weight, 160-250 pounds, 7.3587.55 weight, 250-380 pounds, 5.65a7.35; pa ing sows, medium and good, 275-500 pounds, 4.3588.65; slaughter pigs, and cholce, 100-130 pounds, 6.50a7.15. Cattle, Teceipts, 7,000 head; calves, 2,000 head; edge off general market but Jess dsirable killing quality considered, trade mostly steady; demand continues broadest for light cattle; all grades con- tinuing to get fairly wide outlet; up to 9.00 paid for strictly choice light year- : practical top, 8.85 with best w-ighty bullocks, 8.25; bulk of run sold i but killers bearing down. suggesting dwes. 90-150 pounds, medium to | choice, 2.0023.75; all weights, cull and common, 150a2.25; feeding lambs. 60- 75 pounds, good and choice, 4.75a5.50. L0101 SOOT 11111100110 PO OOM RSO 111 Money Available for Mortgage Loans wE are continually arranging FIRST TRUST 232353332082a888833 35003 Mo-Kan Pipa L (A). Nat American Co. Nat Union Radio. Newberry (JJ) 1.10. New Eng Pow pf (6) 160; New Mex & Ar Land. Newnfont Mining N Y Tel pf (6%).... Niag-Hud Pow (40c) Niag-Hud Pow A w., Niag 8h Md (40c)... Nitrate Corp Chile B. Nordon Corp Ltd. LOANS—new and refinanced—on apart- ment house, office building, residential and business properties, “located in the District of Co- lumbia or nearby Maryland and Virginia. Imme- diately upon receipt of your application we put the machinery into operation—and just as quickly as is possible a report will be forthcoming—and if ap- proved the money is ready. e Y% Loans made for 3, 5, and 10-year | weak close. Slaughter cattle and veal- RANDALL H.HAGNER & COMPANY periods—and for the moderate rate of | ers; steers, good and choice, 600-900! MORTGAGE LOAN CORRE SPONDENT | s 4 1774 | New York ./%./me”/w 6(‘/}1/1/[7[ 1321 Connecticut Ave. Decatur 3600 Eum||||um||mumlml||mmuuuumumuuuuunummlmumuumul|mummnnmuuummmmim| i Nor 8t Pow pf (6)... 108 ol : s Outboard Motor B... 2 . il PacGAElstpf1%. 1 1 Pandem O11. T bos 7 1 Fisl r 5’ F‘ da P & L Pl iy e BALTIMORE STOCKS. Peoples LI&Pwr (A Philfp Morris Inc. . .' Special Dispatch 1o The Star. Phoenix Secur Corp.. BALTIMORE, Julsy M~ Plymouth Card (6).. 3 Pa = Sales. Plymouth Oll (1).... B AL rare Truet. Co. T‘"ofll}’m)’“n (b10%) 200 Black & Decker com,. Pub Util Hold war. . 133 Commercial Credit o Pub Util Hold Cp xw 19 Consolidated Gas com Fire Corp Pub Ut Hold cu pf(3) 4 Manufacturers Co com. Pure Ol pf (6)...... 2 95 Maryland Ca ualty Co Q RS8-De Vry.. 66 Maryiand Trust Co.. 120 New Amsterdam Cas Rainbow Lum Pr B Republic Gas Corp. 25Pa Water & Power Reybarn Co. 17 Union_Trust Co 947U 8 Fidelity & Guaranty Rike Kumbler (2.20) St Regls Paper (60c) Schulte Un 5¢-31 St 0e) Selected Industri S1,1Ind full pd (534). !« Ind prior (53%)... Sentry Safety Cont. . Shawinign W&P 214, Shenandoah Corp, Smith (A 0) (2), Sni Viscosa rets. Solar Refining. So Am Goid & Plat. . SouthCEd pf B 1%. South Corp. ... SouthernNat Ga Eouthld Royalt 8 W Gas Utily Stand Oll of Ina Stand Ol of Ky 1.60. Stand O1l, Ohio (2%4) 50s Stand P& L pf (7).. 100s Stinnes (Hugo). . 2 Strauss (Nathan). Struthers Wells T. Stutz Motor Car. Stutz Motor (w Sunray OIl (b5%) Swift Internat (3). Teck Hughes (60¢) Texon Oil&Land (1 Tob Prod Exp (10c) Tran Con Air Tran. Trans Lux DL P Tri-Cont Corp war. . Tubize Cantillon (B) Fung Sol Lamp (1).. Twin8t NG pf (A).. Un Nat Gas Can (1).. Unit Founde; Unit Gas Corp. Unit Gas pf (7) Unit Lt &Pwr A Unit Lt& Pwr f (6). Unit Shoe Mach (234 U 8 Elec Power ww.. U 8 Inter Seo 1st pf.. US & Overseas war. Unit Verde Exten (1) Utah P& Ltpt (7)., Util PALt(at1.02%). Georgia Power § Raz 5 S —————————_) Last sale . 36 wa Complete Investment and Brokerage Service Copy of Our “Fortnightly Review” Furnished on Request ~G. M."P. MURPHY & Co. Members New York Stock Exchange 1510 H Street 2 RS TOTPGURTE JOPI DT PP PSR TP TN JUP S 100 SIS SOOI PUSPETS 3 P IIUrsPy ow: 33859sernazane3: SILVER QUOTATIONS. NEW YORK., July 14 (#).—Bar silvr at 28, ce of ! ¥ ° Brokerage Service for Securities and Commodities [FENNER & BEANE ASHINGTON, D. J. D. MOTHERSHED Maxacer 1430 K Streee, N. W. Phone National 7000 ® = Connecticut at K S De Forest Radlo. ... Detroit Atreraft Cp.. Dixon (J) Crue (8).. Doehler Die Casting. Dow Chemical (2)... Dresser Mfg B : Dubllier Cond & Rad Duquesne Gas Corp. . Durant Motors East G & F Assoc. .. East St Pow B (1)... Eisler Electric Corp. Elec Bond&Sh(h6%) « Elec B & Sh pf (6). . Elec Pow A880 A (1) fmp Corporation. Engineers Gold. B Fairchild Aviation. . Flintkote COA...... Florida P & L pf (7). Foltis Fischer Corp. Ford M Can A (1. Ford Mot Ltd 36 8-5¢ Foundation For Shs. Fox Theater Cl A... Gen Alioys Gen Aviation Gen G&E cv pl G Theat Eq ¢v p old Seal Elec new Goldman Sach T C. Graymur Corp (1) Groc Strs Prod vie. Guif Otl of Pa (1%4). Hamilton Gas rots. Happiness Candy. .. Hecla Mining (40¢). Hollinger Gold(65c) . 4 Hudson Bay M &S .. Humble Of) (12%4). . Hygrade Food Prod. 111 Pow & Lt pf (6).. tmp O11 of Can (50¢) Indiana Pipe Line(1) Industrial Finan ctfs Insurance Sec (40c). i Intercontinent Fetn. 1 Int Petroleum (1)... Int Superp (11.10).... WASHINGTON Telephone National 9600 Philadelphia Richmond » 3 o Steel Corp 53 36 Tea 55 '35 | 2. Baltimore London New York Expect Motor Increase. NEW YORK. July 14 (#).-The low point in the automobile industry was reached las’ vear, and better than sea- sonal trend in production will become apparent before the end of this year, an analysis of the motor industry by the Brookmire Economic Service Production in the last half of 1 probably will exceed that of the cor sponding period of 1930, and the tot volume of business in 1932 may be ex pected to show substantial improvement over either of the previous two years, according to the survey. - = MEMBERS NEW YORK STOCK EXCHANGE | and ] Principal Commodity Exchanges ! A Banking Connection l 3 & L 5 D enn 1§ Beopler L &' 25 ; Private Wires to POt Edis 138 F CoN ¥ b S gee New York, New Orleans, Chicago BN llll‘.?’:’fié‘;{lfi 98 | . With any American Security Office 350 Sty 38 5 37108 affords a valuable contact with all de- partments of this strong bank and with are capable of inter- o B AWLWAND R MM p R~ Pt ” Valley HE achievefnent of the electric and gas indbstries in maintain- ‘ ing wages, employment and con- i s struction during the past year, has ISR A 3 o helped to maintain the confidence 1Southw Nat G 65 of investors, and to lessen the ! X acuteness of economic conditions. While these industries as a whole 3 showed slight losses in output, the Associated Gasand Electric System b Parable in- stock. ) St e reported 1.4% increase in electric in stock. P.Iu’u‘u: ’.Q in stock. 1 3 . m Pl 3 b 1Tex City G . Stability and growth of the Asso- ciated System was reflected in an increase of 30,345 Associated se- curity-holders. Telephone BOwling-Green 9-3957 or write for Folder G 69 General Utility Securities Incorporated 61 Broadway, METAL MARKET. NEW YORK. July 14 (#).—Copper weak, electrolytic, spot and future, 7%a8. Tin easy: spot and nearby, 24.75; future, 25.00. Iron steady and unchanged. Lead quiet; spot, New York, 4.40; East St. Louis, 4.2 Zinc dull; East' St. Louis, spot and future, 3.90. Antimony, spot, 6.90. Quick sil- ver, 95.00. executives who preting its broad policies in terms of your individual needs. £ | MONEY MARKET i Every Banking and Trust Service NEW YORK, July 14 (#.—Call money steady; per cent all day. ! Time loans steady: two to four months, 1ally; five to 1382 per cent. Prime commercial paper, 13a2. i Bankers' acceptances unchanged. —— CHICAGO STOCK MARKET | 'NEW WHEAT IS REPORTED SOLD AT 95 CENTS BUSHEL IN WEST BY OWEN L. SCOTT. Special Digpateh to The Star. CHICAGO, July 14.—Reports are re- celved by grain interssts here of sales of new wheat in the Southwest at right Hargrav 10c. Y Ol & G RIGHTS, Ins Corp,Del. 2% 2 * Iast quarteriy y extra. TPius 4 2 ameE BRSO N Expire. Auglo 2 A Dividend rat2s in dollars payment. - *Ex dividend. ") Perels in “cash_or stock. 1 Plus 5% stock. j Plus 2% in stock. n Plus 8% in sem1. in_stock. © Ad)ustment or » 9 10 3 224 224 15th and Penna. Ave. By the Associated Press. Branches: CHICAGO, July 14.—Following is the complete official 1ist of transactions in' stocks on the Chicago Stock Exchange today: STOCK! New York Cotton NEW YORK, July 14 (#).—Today's trading in cotton was restricted by a disposition to await a further deveiop- ment of the European situation and the price movements were rather narrow and irregula: An opening advance in response to | relatively steady cables and & somewhat 3 Onion Gullt 5s Hion_Gul ; f & ny Northeast— 8th and H Streets N.E. Northwest— 1140 15th Street N.W. Surplus—$3.400,000 Central— 7th and Mi Southwest— 7th and E Streets SW. Capital—$3,400,000 Hjgh. Low. Olose. | public. His name seldom has been in | print. Today he was reported to have | covered extensive short lines of wheat | which had been put out against pur- chases of corn. 5 Farm Board Holdings. Asso T & 350 Assoc_Tel Util 100 Asso Tel Util 8% 20 Automat Wash 4900 Bendix Aviation New York 55082 West.[ 1 West Pub Ser A Investors 50 Chic Yell Cal 4780 Cities Bervice o lub - Alum Fe i R S L = rp Bec . 0 Corp Bec ctis. . ane Co .. s Seea 2 30 Crigs 50 Hall 30 fiou : 0 Houdeille-Her B @ 20 Mill Noith Util pf iUl 22333 2115 FEa5e2852 'y Sa3medgs -‘uon ‘for President Hoaver’s attack on 11 1013 2230 £ st BONDS. b0 g1, B @ b Sul'lie R B B2 i3 g 2 ' on the Chicago Board of Trade through {2 |the_scheme of Senator Arthur Clpfer ding | 144 | regulations. 2002 | | prices as low as 25 cents a bushel | This represents & decline of approxi- mately 400 per cent since the Federal | Farm Board initiated its stabilization present level, are unprec country, and, according to & mrveg made by George Broomhall, the Englis| grain authority, they are the lowest since the Middle Ages, even in !urore. The price of wheat for future deliv- ery at Chicago, established on the Board of Trade, still is lpproxlm:ull 2 cents above the record low made back in 1894, when it reached only fractionally above 50 cents. It is over twice the 25-cent minimum price paid for grain delivered | by farmers in the harvesting area, and | the local future price for July defivery | iis about 10 cents above & parity with | the Liverpool market, when the ship-| I ping difference is subtracted. May Urge Fee Plan. Payment of present prices explains, | s0 grain men say, the politfal unrest in farm areas, When Congress convenes, | | expressions of individual membera show that there will be a demand for a trial |of the McNary-Haugen plan of market- |ing by the use of An equalization fee. | There al80 is expected to be an assault | of Kansas to impose stringent tra This progpect, the success of which would involve a virtual end to a free trading market, causes local elements friendly to the local board of trade to suggest new rules, formulated by it, to curo excessive activity on cither the bear or the bull side of the merket. Today there was a tendency on the part of traders to see more justifica- short selling under present market con- ditions, They emphasized the marked effect which even limited sales could have on a market as limited in volume of trade as the present one. But point | was made of the fact that the open in- terest in wheat at the opening of trade yesterday morning was only 108,749,000 bushels compared with 264,890,000 a year ago. The open interest represents hedging sales to merchandise grain, as well as short sales for speculative pur- poses and the total now is 100,000,000 bushels smaller than the commercial stocks of wheat. At the same time mar- ketings of new wheat, which frequently are hedged by short sales, are running at an almost record rate. Last week's primary receipts were 20. 00 bushels compared with 18,297,000 last year. * ‘The principal short umfl%’“ mar- ket 15 0ot & trader well 1o ths The professional grain trade points to the huge wheat holdings of Federal Farm Board subsidiary corporations as one of the largest factors in depressing prices. They point out that even if this grain would be held from the mar- ket as suggested, it would appear in the country's visible supply, which is the show window of the grain business, and would intimidate traders. “The only way the Government can avold a bearish factor in the future is by the destruction of this wheat, or by gift to consumers who would not otherwise be in the market,” said 8. C. Harrls, & market specialist. (Copyrisht, 1931.) . UBBER MARKET. NEW YORK, July 14 (Special).— Crude rubber, smoked ribbed sheets, was unchanged at today’s noon quotation of 6'4. This compares with 6 1-16 a month ago and 11 & year ago. more optimistic view of the news from abroad met a renewal of liquidation of scatterad selling and prices sagged off, | with the midafternoon market quiet within a point or two either way of yes- terday’s closing quotations. Futures closed barely steady, 1 to 8 lower. July, 8.92; October, 9.22a9.24; December, 9.46a9.47; January, 9.58; March, 9.73a9.74;: May, 9.93. Spot steady; middling, 9.10. July . October December ' Japuary . | Maren | May (Repurted | Rate—Maturity | 258 Sept. 15. 1931 |113s {1708 1748 20 3us STOCK AND BOND AVERAGES By e Associated Press. TUESDAY, JULY 14. STOCKS. 50 Industrials. 106.9 . 108.2 Two years ago ’l‘hml ;:n ago 1931, High, Low, 1931 High, - 3 Low, 1929 4 (Copyright, 1931, Btandard Statistics C0.) = 99. 100.8 96.0, . A '87 86 2 Wiscon P&L 5s F '58 1027 : FOREIGN BONDS. Agr Mtg Bank 7s 46 Mg Bank 76 ‘47 ? Bokotn Mie Bk 75 41 60 Bogot M Bk 1s ‘47 n r Prov T 13 Ruhr & uhr 18aar Basin Con 7a 4 Saxon Pub Wk 55 2 Stinnes 7s ‘36 XW.... 13 Stinnes_7s 46 xw. Terni Soc 8128 A Unite Bl Ser 7s 100 Unit Indust 6'as ww—With warrants x ithout warrant NORTH AMERICAN TRUST SHARES “‘the leading fixed trust’ A common-sense investment with SAFETY GOOD RETURN MARKETABILITY GROWTH IN VALUE KNAPP & CO., INC. INVESTMENT SECURITIES Washington Office Shoreham Building Phone Metvopolitan 1532 NTEREST PAID ON SAVINGS OFFICERS: President ON, Vice Pres. Pro LL. Asst. Tr. Offeer st. Cashler Open Until 5:30 P.M. July 15th "The Practical Advantages and Prestige of Association, VWith This Veteran Bank —are as available to small depositors, as to business men, firms and other customers, car- rying large balances. @Protection and service for all” has been a “Metropolitan” tradition for over One Hundred and Seventeen years. How may we serve you? Completely Equipped Trust Dept. Travelers’ Checks and Letters of Credit National Metropolitan Bank Capital, Surplus & Undivided Profits Over $2,300,000.00 15ti'1 Street, Opposite U. S. Treasury | OLDEST National Bank in the District of Columbia