Evening Star Newspaper, July 23, 1931, Page 13

FINANCIAL, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office, C. & P. SHOWS GAIN | - NNETFORJNE Six Months’ Report Also Re-| ¢ veals Increase, Amount- ing to $242,590, BY EDWARD C. STONE. - | Total niet. income of the Chesapeake | & Potomac Telephone Co. in June! amounted to $147,709 against the much | lower figure of $105,336 in June a year | ago, according to the monthly state- ment filed with the Public Utilities Commission toda: Net income o the first six months of the present year amounted to $889, 909 in comparison with $647.219 in the first_half of 1930, as shown in the same financial| statement, ora gain so far this year of $242,590. Telephone oper- ating_revenues . of the Chesapeake & Potomac Tele- phone Co. for June Robert V. Fleming. amounted to $773.- | 452, the report shows. The toial operat- | ing’ income. after deducting taxes and | uncollectable, was $162,1¢4, compared with $148,788 in June, 1930. | Telephone cperating revenues for the | #ix_months ending June 30, amounted to $4.610,136, as compared with $4.339,- 876 for the same period last year. Total operating income after deducting taxes and uncollectabls, for the first stx months of this year amounted to $1.-} 134,676 as compared with $855,709 for the first six months of 1930 Taxes in June were $55,535, as com- | ared with $48.247 for the same month ast year, Taxes for the first six months of this year were $333944, which was an increase of $47.719 over a similar period in 1930. Capital expenditures for new plant #nd equipment added to the company's gystem in the District of Columbia for the six months ending June 30, amounted to $1.050,895. Gross retire- ments during this period were $616,341, making net additions $434.554. Net additions to plant for the 12 months ending June 30 were $902 .66 At the close of business June 30, ‘Washington was served by 172487 tele- phones, 4,007 having been added to the system during the first six months of the year. In June telephone users in the District made 18.453.600 calls which was an increase of 10.7 per cent over the calls made in June of last year. Fleming Joins Acacia Board. Robert V. Fleming, president of the Riggs National Bank, was elected a director of the Acacia Mutual Life As- sociation at a meeting of the board held vesterday afternoon. Howard W. Kacy, an attorney and general counsel for the association, was also added to the directorate. Mr. Fleming is already a director in a large number of other important financial institutions. ~Mr. Kacy w only recently elected the compan: general counsel and is one of the youngest attorneys in the United States to hold a position of this kind with a big insurance firm. President Montgomery told the board that he believed the steady increase in the company's business so far this year indicates real improvement in general business conditions all over the coun- try. He presented monthly figures to back up his contention, and also stated that lapses have been growing smaller and that fewer loans have been made on policies. At the same time the com- pany’s assets have gained $3,000,000 in the past six months June reports to the head office here showed $4,000,000 in new insurance written during the month. The com- pany has maintained its staff without reduction during the first half year, President Montgomery _believing that the results have justified this policy. Aside from the two new members, the board is now composed of these mem- bers: W. L. Andrews, Charles E. Baldwin, Harry Blake, D. Rufus Cheney, C. C. Coombs, W. K. Cowden, Paul B. Creme- lin, J. Harry Cunningham, L. Whiting Estes, E. C. Graham, James C. Hoyle, Thomas_E. Jarrell, J. Claude Keiper, Arthur D. Marks, John T. Meany, Jo seph H, Milans, Willlam Montgomery, Dr. J. B. Nichols, Charles F. Roberts, H. L. Rust, jr; L. P. Steuart, E. E. Thompson, E. Lee Trinkle, F. D.| Winston and J. P. Yort. { American Ice Enlarges Field. A special engineering department to develop and handle business in the growing field of air conditioning and cooling of publi¢ and private buildings, has been formed by the American Ice Coa, which also announces that it will set up model conditioning plants for various types of buildings in the larger cities in which it operates, so that en- gineers can make observations of cost | and other operating details. ‘This is part of a comprehensive cam- paign which the company is under- taking after making a series of investi- gations which convinced officials that the air conditioning field is due to be- come a major industrial development | during the next decade and create a substantial outlet for manufactured ice. The new engineering department will be under the direction of George Lange, vice president in charge of engincering, and will provide technical advice to prospective users of air conditioning equipment. The company reports that it has al- ready closed contracts with several large theaters in New York and Philadelphia for ice supplies to be used in their air conditioning equipment. Lively Day on D. C. Exchange. “Trading was unusually good on the ‘Washington Stock Exchange today, con- sidering the time of year. ‘The market opened with 10 shares of Capital Traction selling at 42, off a point from its recent high, this sale be- ing followed by a six-share transfer at 41%. Potomac Electric Power 5'2 per cent preferred then came to the front, open- ing with a 30-share sale at 111'¢. The day’s sales included two 50-share blocks at the same pr the total turnover reaching 160 shares. The same corporation’s 6 per cent pre- ferred figured in small lots sales at 113 and 113. Washington Railway & Electric preferred came out at 100 on four 10-share sales. Sixty shares of Federal-American Co. common sold at 21!, Mergenthaler Linotype moved at 78',, and 30 shares of Real Estate Mortgage & Guaranty preferred appeared on the board at 6'5. After call, Mergenthaler advanced 781; to 78% on small sales. The finel stock sale was in Columbia Sand & Gravel preferred at 87. Bonds were wvery quiet, the only sale being in Wash- Ington Gas 6s, series B, at 106. Local stocks new quoted ex-dividends include Washington Gas Light, Na- tional Savings & Trust Bank stock and Corcoran Insurance. Heard in Financial District. Rolfe E. Bolling, manager of the branch of the Federal-American Na- tional Bank & Trust Co. at Fifteenth and H street, is taking his annual vaca- tion, spending & part of the time at his old home in Abington, Va. ‘Willlam Knowles Cooper, partner in Crane, Parris & Co., has been out of the financial district a few days on account of the death of his sister in Philadelphia. Directors of the Packard Motor Car Co. have declared diyidend of 10 cents per share for the qual payable September 12 to stock of record August 16, Note—All stocks are sold in one hundred-share lots excepting those designated by the letter s (80s) (250s). ~Prev. 1931~ High 14% 28y 324 284 118 100% 10% 2014 128 5914 182% 42y 187% 29% 62y, 13 48 60 1084 201% 132% 808, 79 43 264 18 4% 2% 41 9 295 203% 108% 235, 100% 34% 131 0% 37% ki 15 109% 106% 157 4214 314 62% 51% 4% 12 12 868 152% 18 /% 63 2% 57 5% 35 114 4874 118% 5% 23 157% 102 23 27% 181y 24 8% 107 1074 186% 21% Ta% 4% 60% 108% 66 49 35% 39% 12% 12 29% i 1097 497y 30 26 564% 664 59 Kl 64y 324% 38% 434 2% Th 78% b52% Gen Am, Tank Car(4) 47 Low. 4 11% 2214 17% 4 0% 8. ¥ 4% 201 102% 188 8 11% 34 7 Stock and Dividend Raf Abitibl Pow & Adams Express (1).. 10 Adams Millis (2). 1 Addressosr Co1.40.., 4 Adv Rumley (new).. 2 Afr Reduction (t4%) 11 Afr Way Elec Appl.. 1 Alaska Juneau (40c). 55 9 2 8 1 1 1 per. 2 Alleg Corp. ... Alleg Cp $30 ww 5% . Allled Ch & Dye (n§) 3 Allis Chalmbers (2).. Alpha Port Cemt (1), Am Agri Ch of Del Am Bank Note (13).. 1 924 A 14 %« Am Home Pr (4.20). 4 Am lce (3).. : Am 1001 37 42 94 15614 1024 40% 33 514 20%. 26 18% 20 1 1% 1 104 384 16% 1325 10014 11% 4 Celanese Corp. 4 City Tce & F pf (6%) % 1 r & Fdy f () 50s AmChicle (43)...... 2 Amer Col'type (80c). 2 Am European Secur. 2 Am & For Power.... 277 Am & For Pow 2d pf. ' 1 Am Hide & Leather. @S Am International Am Locomotive (1) Am Mch & Fdy 1.40. A Metal Co...... . Am Pow & Lt pf (6) . Am P& L nf A st (5) Am Ra&Std San 60c Am Rolling Mills.... Am Safety Razor (5) Am Smelt Ref (2) h & R Am Snuff (+334).... Am St Foundries(1) 1y pf (7). 10 Am Stores (1234)., 2 Am Sugar Ref (5)... Am Sugar Ref pf (7) Am Tel & Tel (9) Am Tobacco B (16). Am Water Wka (3).. Am Wat Wks cfs (3) Am Woolen Am Woolen pf...... Am Zine Lead & Sm Am Zinc & Lead of.. Anaconda Cop (1%) Anaconda W & C (1), Archer Daniels Mid. Armour of IlLA. ...« Armour of I B. . Armour of 11l pf Arnold Constabl Asso Dry G (2%).. Atch To & S Fe (10). Atch To&S Fe pf (5). Atlantic Refining (1) Auburn Auto (£4)... Autosales Aviation Corv of Dal aliwin Loco pt (7). Palto & Ohlo (5).... Balto & Ohio pf (4). Bamberger pf (6%). 50s Barnsdall (A) (1)... 7 Belding-Hemingway Bendix Aviation (1). Best & Co (2)....... Bethlehem Steel (4). Bethlehem St pf (7). Bohn Alum & Br 1% . Bon Ami (15). Booth Fisheries. Borden Co (k3)....0 Borg. Warner (1).... Botany Con M (A) sriges MIg (11%). Bklyn-Man Tr (4) Bklyn Man Tr pf (6). Bklyn & Queens. Bklyn & Qu T pt (5)w Bklyn Union Gas (5) Brown Shoe (3)..... Bruns Ter & Ry S.... Bucyrus (1), e Budd Wheel (1). Bullard Co. Bulova Watch (1%4). Burroushs A M 1%, 3 Bush Term deb (7).. 408 Butte Copper & Zinc, 13 Butterick Co. 36 B 5 Calif Packing (2) Calumet & Arizona.. Camp W&C Fy (1) Canada Drv G A (3). Canadian Pacific 1% . Car Clin & O sta (5). Case (J 1) (6). Case (J 1) pf (7) Caterplllar Trac wreannl e PPISS cF JUPVITE-QUNOPS-— P9 d pf ( %S s [UTVRIR.- 0. g a28% 0w Cent Aguirre As 1% . Cerro de Pasco (1).. Certain-teed Prod. Certatn-teed Prod pt. Checker Cab Mfg. ... Ches & Ohio (2%) Chesapeake Corp ( Chi & Alton *hi & Alton pi . Chi Great Western. . Chi Great West pf. Chi M1l St P & Pac. .y Chi Mil St P& P pf.. Chi & Northwest (4). Chi RT & Pac(m2%) Chickasha Cotton Oil Chrysler Corp (1)... City Ice&Fuel (3.60) oo » o 3 - TP TP P T » S 5 City Stores City Stores (A). Cluett-Peabody (3). Coca-Cola (17%). S 5 4 Coca-Cola A (3).. % Col Gas & El (2) 25% 54 3% 8214 1011 11% 25 1% 40% 34 5 3% 554 1467% 6% 415 30% % 3 2% 16 BN 35% 1121 24 9oy 1072 45% 14% 24% 8% 14'% 611 71 102 118 9% 344 2 30U 92% 49% 28% 27 13% 5% 4% 15% KEDY 30 11% 151 3 56% 41 L) 21% 20% 11% 2 m 4% 15% L m 8 Collins & Alkman. .. Col Gas & E1 pf A (6) Columbia Graph 56e. Col Grapho ctfs 56¢ Comel Credit (2) Comel Cred pf (1%). Comel Cred pf B (2). Comm Inv Trust (2). Comm Solvents (1).. Comwlth&Sou (40¢). Cmwlth & Sou pf (6) Conzre Consol Cigars (5)... Consol Cig pr nf 6% . Consolidated Film Consol Gas N Y (4).. Con Gas of NY pf(5) Consol Laundries (1) Consol RR C pf (8). Contl Baking B. Contl Can (2%4). Contl Insur (2.40) Contl Motors Contl Oil of Del Cont Shares. . . Corn Products (14). Corn Prod pf (7) . Coty Ine. Crosley Radio. Crucible Steel. Cuba Cane Prod. Cuba Co. Cuban-A! Igar. Cuban Am Sugar pf. Cuban Dom Sugar. Cudahy Packing (4). Curtis Publish pf (7) Curtiss Wright Corp tavison Chemical Drlaware & Hud (9). Del Lack & Wn (4). Diamond Match. Diamond Mtch pf 1% Dome Mines (1).. Domn Stores (1.20 Drug Corp (4). Dupont de Nem (4). Duaues Lt 1st pf (5) stman Kodak (f Eaton Axle (1.60)...: Elec Auto Lite (6). Elec Boat...... Elec Pwr & Lt (1) Elec Pow & Lt pf (7) Elec Stor Bat (5). Eng Public Sve (2).. Eq Office Bldg (2%). P olte [P JOTOPE -JOVEE - FOT ) 0 Fairbnks Morse 1.60, Fairbanks M pf (1) Fed Lt & Tr (31%).. Fed Wat Sv A (2.40)., Federated Dept Strs. Fid Ph Fire In (2.60) Firest T & R pf First Nat Strs (2%). Fisk Rubb Foster Wheeler (2) Fourth Nat Inv mb5e Fox Film (A) (2%) Freeport-Texas (3) Gardner Motor Gen Am Investors. . CEC RPN PTC PES Gen Asphalt (8) .. 40 Gen o asimbwat B Sales— Add 00. High. an 154 25 18% 6 7 4% 15% % 21% 109% 447 6y 128, N 101 8|35 23%, 90 14'% 311y 23% Prev. Low. Close. Close. 4% 15 25 18% 6 5% 4% 14% Th 21 25 9% 2 14 14% 18% 16015 1061, 15% A% 15 25 18% 61 77 4 16% 4 21% 17 26% 14% 4% 157 25 18 6 6% 4% 14% T 257 118% 26 Prev. 1931~ High. Low. 25% 481 b4 12% 56 8 50 48 103% 28 31 76 23 9% S0 12 61 2y 1515 208, 7 31 36 11% 43 Stock ana Gen Cable A. Gen Cigar (4). Gen Elec (1.60)... Gen Elec-spec (80c) Gen Food Corp (3).. Gen G & El A (e30¢). Gen Mills (3) Gen Outdoor Adv(A) Gen Ptg Ink (2% Gen Ptg Ink pf (8).. Gen Public Service. , Gen Realty & Util... Gen Refractories ¢4) % Gen Theater Equip. . S 13 5% 1% 17% 18% 11 10 10, i 116% 10 1% 81y 8 20" 611 Rie 23 Gill Rasor Gillette Saf R pf (5). Glidden C».... Glidden pr pf (1) Gobel (Adolf). Gold Dust (2% Goodyear Tire&R(3) Goodyear 18t of (7).. Gotham Silk Hoslery Grand S1] Strs (h1).. Grand Unfon. - Grant (WT) (1)...] Great Northn pf(4). Grt NorOre (2)..... Grt West Sug f (7). Grieshby Grunow Hahn Dot St pf (6% ) Hall(WF)Prtg(1.20) Sates— Dividend Rate. Add 00. High. 1 4 188 13 6 208 1 1 1 Hawalian Pineap (2)100s Hercules Mot Co 80e. 2 Hercules Pow pf (7) 110s Hershey Choc (5)... Hersh Choc f (15).. Hollander Sons Houdaille Hershey. ., Houston O, Houston Of] ( Howe Sound (2) Hunn Indian Motor Cycls Indust Rayon (4). Inspiration Copper. . Insuranshares Del A Insur Shrs Md(40¢).. Interh Ran Transit.. Interlake Iron. . int Agricultural Int Bus Mach (n Int Combustion. Int Comb Eng pf.... Int Harvester (2%).. Int Harvester pf (7). Int Hydro E1 A (e2). Int Match pf (4).... Int Nickel (60¢)....: Int Nick Can pf (7). Int Paner pf........ Int Paper & Pwr pf. Int Salt (3)... . Int Shoe (3). . Int Tel & Tel (2) Inter Dept Strs (2). Inter Dept St pf (7). Intertype Corp (1).. Johns-Manville (3).. Jones & Lang pf (7). Kans City Sou pf (4) Kelly-Spring Tire. .. Kelvinator Corp. ... Kelsey-Hayes Wheel Kendall Co pf (6)... Kennecott Copper (1) Kimberly Clark 2%.. Kresge (SS) Co1.60. Kress (SH) Co (§1).. Kreuger&Toll (1.61) Kroger Groc&Bak (1) Lambert Co (8 Lee Rubber & Tire.., Leh Valley Coal Lehman Corp (3).... Lehn & Fink (3) Lib Ow Ford Gla Ave & Myers B Lig & Mver pf (7)... Liquid Carbonie (3). Loew’s Ine (3) Loft Inc. . Lorillard (F) Co. TLouG&EA (1%).. Tiville & N'ville (5). Lndlum Steel. .. ... McCall Corp (2%)... McCrory B (2).....s McKeesport T P t5%4 McKesson & Rob (1) Mack Trucks (3).... Macy(RH) & Co(n3) Mad Sq Garden (60c) Manat! Sugar. . Manati Sugar pf.... Man Elevm g . Marine Mid (1.20) Marshall Fleld (2%) Martin Parry May Dept Strs (2%). Maytag Co. Mengel Co. Mexican Seaboard Mid Continent Petm Midland Steel (3). Midland Steel pf (8). Min Moline P pf.. % Mo Kan & Texas....: « Mo iKan & Tex pf (7) 56% 18% 26% 3 108 85 7 Missour! Pac pt (5). Mohawk Carpet..... Montgomery Ward. . Mother Lode. ... Motor Meter G & El. Motor W . Mullins Mfg. . Mullins Mg Bf (1)..180s Murray Corp. sh Motors (4). Nat Bellas Hess pf. . Nt t Biscult (2.80).. Nat Cash Register A, at Dairy (2.60) t Dept Store at Dist Prod (2). Nat Lead (5)... at Pow & Lt (1).u. t Ry Mex 2d pf..o at Steel (2) t Supply (4) at Tea (1). Nevada Copper (1).. ewport Co (1).. ewton Steel Y Central (6). Y & Harlem (5) N 'Y Investors. \ Y N H & Hart (6) YNH&Hpf (1), Y Ont & Western. N Y Shibuilding pf.. Noranda Mines. orf & West (112).., North Am Aviation.. Nor Am (b10% stk). North Amer pf (3).. North Am Ed pf (6).. Northern Pacifie (5). Yorthwest Tel (3). . ORIDIONT ot ot e Sols 5815 31% Otls Elevator (2%) 16% 39% 251 Ow B 547 69% 26% 131% 11% P 50 4 2% 8% 15' 4 46'9 39% 29 64 10% 25% 102% 124 12% 27% 60 6l 1 38 484 15 116 5% 11y 119% 2% an 13 1 25 45 4 2% 6% 145 2% 56 107 72 95 103% 28 5% 66% 24% 12 31% Otis Steel. ... s 111 Glass (2). Pacific Coast 2d pf. . Pacific Gas & El (2. Pacific Lighting (3). Pacific Mills. Pacific Tel & T g Packard Motor (40c) Panhandle P & R. Paramount-Pub 2% Parmelee Transport. Pathe Excharge. Pathe Exchange A. Patino Mines Peerless Mot Penick & Ford (1) Penney (J C) (2.40) Penn Dixie Cmt pf..) Penn Railroad (3)..s Petrolm Cp of Am(1) Phelps Dodge (1). Phila Co pf new (6) Phil Read C & I. Philip Mor & Co 266 1 108 1 21 408 2 1 13 4 20s 52 10 37 1 27 89 208 16 3 1 4 1 108 10s ET I LTS Joreperaery Rer 10: _——. 46 1% 36% 41% 1% 49% 474 38 377% 103 11% 24% 65 12% 34 4% 3% 21% FOPTTOTON U S o PYSET- 1T - 3 H N PaaRAN® 50 omeS @ @ S 5 Phillips Petroleum.. . Pierce-AITOWesesoes Pierce Oll..vssessee Pierce Petroleum. .« Pillsbury Flour (3) s Pitts Steel pf (7). Pitts United Corp. Porto Ric-Am To(3). PRAmMTOb B...coes Prairie Oil & Gas. Prairie Pipe L (3) Pressed Steel CaT.. e Proct & Gamb (2.40) Proc & Gamb pf (5). 100 Pub Sy N J (3.40)..0 Pub S¥ N J pf (5)..= Pub Sve G&E pf(5) Pullman Corp (4). s Pure Oil. ... Pure Of1 pt (8) Purity Bakeries (3); Radio Corp. .. - Radio Corp B (5). 24% 11% Radio-Keith-Orph A. RR Sec I C stk C (4).2208 140 61 7 174 i Raybestos Man 2.60+ . 11 247 3 15 14% 314 104 184 3% 4% 109% 8% 100 105 37% % 86 29% 17% 39% 14% 38 194 | Berlin, STOCKS IRREGULAR ONLIEHTTURNOVER Traders Continue to Hold Down Commitments Pend« ing Credit Parley. BY GEORGE T. HUGHES. S8pecial Dispatch to The Star, NEW YORK; July 23.—Trading in the stock market today was .significant only in a negative way. Prides opened lower, but hardened subsequently and the net changes were unimportant either way. It was, however, a fair deduction that the news, even :interpreted as unfa- vorably as were the cable reports today, no longer permanently unsettled stocks. Among the issues better supported than the average in the late trading were Eastman Kodak, General Motors and some of the gerchandising shares, one of which was Bafeway Stores. Buy- ing of the latter was said to be coming from Cincinnati. Volume approximated the low of the year, That the German outlook was still greatly involved and that the situation was critical no one was disposed te deny. There was no incentive to buy stocks in the tenor of the cable dis- patches, and Wall Street opinion was that _little had been accomplished by the London Conference. Then before the opening came the announcemen of a rise in the Bank of England rate. The early trading in bonds revealed further weakness in the German de- scriptions. On this set-up a declining stock market was to have been expected. Early quotations for the leaders were all lower, but not more than & point or two. Trading was extremely duil. It was & convincing demonstr: the sold-out condition existing in stoc The constructive news of the day was the Generzl Motors report. It is no mean achievement for a corporation of the size of General Motors to report larger per share earnings for the second quarter this year than in 1930 and at the same time strengthen its balance sheet position. That the stock did not respond was, of course, due to the gen- eral market conditions, but the showing was the subject of favorable comment all day. Not so much was heard today about the shock that second-quarter reports | were supposed to threaten only a week ago. Such statements as have come to hand have almost invariably been better than anticipated. Certainly that was the case with General Motors. There is still the hurdle of the United States Steel dividend action next Tues- day to be taken, but with that out of the way it is safe to say thar the do- mesic business background will grow steadily brighter. What will happen abroad is another matter. New Financing Planned. NEW YORK, July 23 (#).—New finarcing for the Pacific Power & Light Co. will consist of an additional issue | of $3,500,000 of first mortgage and prior lien gold bonds, 5 per cent, series due 1955. The e has been underwritten yndicate headed by W. C. Lang- Alcohol Price Raised. NEW YORK, July 23 (#).—American Alcohol Co. has raised the price of de- natured alcohol 1 cent a gallon to 25 cents, tank cars, and 28 cents in drums and carload lot: Juotations furnished by W. B. Hibbs & Co.) ey Nominul gold Seliing checks London, Paris, Brussels, belf mark Rome. B 2668 26.68¢ 26.71c 9 i Stockholm, crown INVESTMENT TRUSTS NEW YORK, July 23 (#).—Over-the- counter market: A B Q Trust Shrs ' Cont_ C : Gen Secur A Gen Secur B : & Gen Cecur $3 pfd Brit & Cont 67 pfd Composite Tr Shrs u 6 pid rs 77 pfd Founders 1-70th com """ Founders conv pfd ctfs Founders war Founders 1 4 Am Ins Stocks Assoc_Stand O c pf i ‘cor Chain & Gen Equit 6'ss pf.. Chain Store s Chain_Store Chartered Chelsea Ex Chelsea Exchange Cumulative Tr Sh.... Corporate Trust Crum & Post Crum & Foster .. & Foster Tns Crum & Foster In Deposited Bank Shrs Deposited Bank Shrs ) Divsersified Trustee Shrs Diversified Trustee Shrs B.. Diversified Trustee Shrs C. Diversified®Tr Shrs . Eaquity Corp com. Equity Corp Bf Eauity Trust Shrs First Amer_Corp Five-Year Fixed Tr. Fixed Trust Shares A B Fundamental 1t Shrs A Pundamental Tr Snrs B General Equits A. Granger “Trade Gude Winmill Traa . Incorp investors Incorp Investors Equit. Independence Tr Shrs. Int Secur Corp Am A. Int Secur Corp Am B Int Secur Corp Am 6s pf Int Secur Corp Am 6'2s p! Tnvest Tr Associates. Invest Tr of N Y Collat Tivestors Trustee Shrs Jackson & Curiis Inv As Jackson & Curils Sec pf. Leaders of Industry A: Leaders of Industry B. Leaders of Industry C. Low Priced Sh Major Corp Shrs Mesds Investors Tr Mohawk - Invest, Mutual Mutlial . Inve Sh National Tr_Shrs N Y Bank Tr Shrs Nor & South Am Coip B. Nor Am Trust Share Northern Secur Oil Shares units Old Colony Inv Qid Colony,_Trust Assoc. Petroleum Trade A. Public_Seryice Ir. Representative Tr Secur Corp Gen 36 ! Second Int Secur Corp A Second ‘Int Secur Corp B Sec Int Secur Corp 65 st Df. Selected Am _Shares Selected Income Shrs. Selected Manage Tru: Shawmut_Bank . Srencer Trask Fund Stand Am Trust Shrs... Stand Oollat Prusteed. State Street Invest . Super Corp of Am T Super Corp of Am Tr B Super Corp of ‘Am Tr Super Corp of Am Tr. Trust Shrs of Amer Tiustee Stan Tiustee Stand I D Trustee Standard Oil A Trustee Standard Oil Shis Trusteed N Y C Bank Trusteed Am Bk £h 20th Century Pixed o-Year Trust Sh nited Fixed Shrs United Founders 1/70th ‘¢om.." . United Ins Bhrs Uuited Bank "Tr U8 & British Int 68 & Britieh ot B % 08 Hee B & Fow - Universal Tr Sh. 2 0505 B S ra ol Buans: Washington Produce 27¥uwer—one-pound prints, 28%5; tub, Eggs—Hennery, 22a23; ceipts, 15a17. " Poultry, alive — Spring broflers, 3 pounds and over, 33a35; 2 to 2% pounds, 32a33%,; 1'; to 2 pounds, 28a 30p Leghorn broilers, large, 24a25; medium, 22a23; hens, large, 22a23; small, 18a20; Leghorn hens, large, 15a 16; small, 13al4; roosters, 12al13, | Dressed—Spring broilers, 3 pounds and over, 38a40; 2 to 2!» nounds, 37a 38%5; 1'% to 2 pounds, 33a35; Leghorn broilers, large, 28a30; medium, 28; hens, large, 25a26; small, 20a22; Leghorn hen, 17a18; small, 14a15; roosters, 13a 14; Long Island ducks, '21a22. Meats—Beef, prime, 15; choice, 14; medium, 1215a13; lamb, 19a20; veal, top, 14al5; choice, 12a13; pork loins, 22a23; fresh hams, 18a20; smoked {m‘ms.uzonn; strip bacon, 24; lard, 0l5all, Live stock—Hogs, heavy, 6.50a7.0! light and medium, 7.75; pigs, 7.00a7.7 roughs, 3.50a5.00; calves, 5.00a7.50; Spring lambs, 5.00a7.50. Fruits—Watermelons, 30a1.00; canta: loupes, North Carelina, 75a1.50; hone dews, 1.75a2.00; honeyballs, 3.25a3.50; Persian melons, 2.75; oranges, 4.50a6.50; lemons, 5.00a7.00; = grapefruit, Porto Rico, 4.50; grapes, 2.50; blackberrie: 4.2584.50; ' huckleberrie: 4.00a5.00; plums, 2.00; peaches, 2.00a3.50; apples, 1.00a1.25; box stock, 3.00; pineapples, 5.00a5.50; pears, 3.00a3.50, Vegetables-—Potatoes, 2.00a2.2! sweets, per bushel, 1.75; tomatoes, 75a 1.00; peppers, 75; string beans, 1.00a i 125; limas, 3.00; cabbage, 25850; corn, crates, 1.00a125; squas wice, Iceberg, 4.00; celery, beets, per 100 bunch 002a3.00; Tots, per 100 bunche: 00; aspara- gus, 2.00a3.00; onions, California, 50- pound sacks, 1.50; Eastern Shore, bushel baskets, 75; spinach, New Zealand, 50; kale, 35a40; peas, New York, 2.5082.75. current re- car- INDUSTRY BETTER Long Decline in Shipments Shows Signs of Near- ing an End. By the Associated Press. NEW YORK, July 23—So little Is July falling off from June in respect to shipments that hopefulness of & decided | turn for the better by September is spreading through the producing end of the steel industry, Iron Age says in its weekly iron and steel review. “The operating rate for the whole country,” the review says, “has dropped 2 points in the week, or to 30 per cent of ingot capacity, but the belief is now very general that present levels of out- put will continue through August with- out material change. Cause of Curtailment. “Reduced requirements of the auto- mobile builders, the completion of rail contracts and the falling off in large gas and oil line projects account largely for the curtailment. Two blast furnaces are scheduled to go out at Ensley this week and one steel company stack may be banked in the Chicago district. The automobile industry will reach the low of the year in August, with a production expected not to exceed 175,000 cars. “Construction enterprises are sustain- ing factors, such as a fairly large move- ment of bridge and building work and, in the case of re-enforcing steel, of road work and public improvements. Tin-plate consumption is also & strong s oporting influence, although tin mill output has fallen rather sharply to a 60 per cent rate after weeks of approxi- mately & 65 per cent gait. “The movement to stabilize prices| gained by the wide adoption last week of a reduction of $1 a ton for bars, plat:s and In the case of bars, particularl revisions downward | on contracts was required, but the ton-, nage so affected was probably not very | great and following so shortly the new lassification and prices for sheets that | seem to have been accepted almost with- out deviation, the price action respect- ing the heavy tonnage products has had the effect of measurably improving sen- timent. “Current buying is not calculated. by its volume to put the price structure to a severe test, yet in the instance of sheets, large consumers seem willing to make forward commitments on the new sheet basis. And as regards the new higher price of $1.90 a keg for wire nails to jobbers, eome few contracts have been closed that were difficult to make when $1.80 was the prevailing figure. Strength in Scrap Prices. “Primary materiels are featured by further evidences of strength in scrap prices. At Pittsburgh heavy melting steel has advanced 25 cents a ton for the third consecutive week. The same grade is stiffening in the Youngstown district, while at Pittsburgh Blast Fur- nace grades rose $1 and at Cleveland 50 cents a ton. “Pig iron melt in New England has taken the first upturn in many months and sales have been in better volume at_both Boston and New York. New projects requiring fabricated structural steel at 49,500 tons are more than twice in volume the tonnage of the two previous weeks, Awards were about 17,000 tons. The Iron Age composite price for steel melting scrap has made the sec- ond advance since its 30-vear low, $9.08, was reached late in June. It is now $9.25 a gross ton. The pig iron composite dropped 2 cents to $15.54, a new low since late 1915, and the finished steel composite has receded to 2.11 cents a pound from the 2.13 cent level held for three weeks. BUSINESS MACHINES NET GAINS IN SIX MONTHS Speclal Dispatch to The Star. NEW YORK, July 23.—For_the six months_ended June 30 last, Interna- tional Business Machines Corporation, which has a plant in Washington, to- day reported net earnings of $3,778,492 after all charges and estimated Federal tax, equivalent to $5.64 a share on 669,852 no-par capital shares outstand- ing. These earnings represent an in- crease of $124,182 over the total of $3,654,310, or $5.45 a share on the same number of capital shares outstanding, which was earned in the corresponding period of 1930. These figures each in- clude earnings of the company's foreign subsidiaries. FREIGHT LOADINGS GAIN By the Associated Press. Loadings of revenue freight gained sharply during the week ended July 11, as compared with the preivous week, when a holiday was observed. Total loadings, as calculated by the American Railway Association, follow, for_comparable periods: Week ended July 11, 763,581 cars, Previous week, 667,879 cars. Same week last year, 915,985 cars. Money on Hand to Loan on First Deed of Trust 69 Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 fadiana Ave. N.W, FINANCIAL. GENERAL MOTORS NET IN SUBSTANTIAL GAIN borporation Reports $1.22 a Share Earned in Seccnd Quarter; Six Months $1.83. By the Assoclated Press, . NEW YORK, July 23.—Réflecting in- creased demand for its lower priced cars, General Motors Corporation re- ported larger net earnings for the second quarter of 1931 than for the same period of 1930. ‘The total was $55,122,767, equivalent after preferred dividends to $1.22 a share on the common stock. During April, May and June of last year net from operations alone aggregated $53,- 386,768, or $1.17 a share, but in addi- tion the corporation in that period had enough non-recurring income to swell the per share return to $1.34. Net for the first six months of 1931 was $84,122,176, or $1.83 a share on the common, compared with operating profit of $98,355.355, or $2.15 a share a year ago. With the addition of the special profit, which represented sale of common stock to General Motors Management Corporation, per share net in the first half of 1930 was $2.32. ‘The company improved its ecash position by nearly $67,000,000 in the initial six months of this year. Total sales of cars to dealers showed a gain of 6.1 per cent in the second quarter, whereas profits rose 3.3 per cent. The latter were influenced, President Alfred P. Sloan, jr. explained, by a trend to cheaper automobiles, POWDER FIRM BOOSTS SECOND QUARTER NET Special Dispatch to The Star. ‘WILMINGTON, Del, July 23.—Net profits of $736,103 are shown by Her- cules Powder Co. for the first six months of 1931. After payment of pre- ferred dividends, this is equivalent to 55 cents per share on the 606,234 shares of no par common stock, of which 52 cents per share was earned in the sec- ond quarter, and 3 cents per share was earned in the first quarter. Current profits compared to a net of $1,598,468 for the same period last year, which was equivalent to $1.99 per share on 603,079 shares of no par common stock. BpR LOANS Is Your 1st, 2nd _or 3rd Trost Due? oney? MR. FRIEDMAN NAT. 4519 A—13 5th MONEY TO LOAN ON D.C. REAL ESTATE No Commissions or Renewals Before Renewing Your Present Loan Consult Columbia Permanent Building Association 733 Twelfth St. N\W. Money to Loan Secured by first deed of trust on real estate. Prevailing interest and commission. 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