Evening Star Newspaper, August 27, 1931, Page 13

FINANCIAL., NEW YORK STOCK EXCHANGE GAIN IN BUSINESS FORD. C. IS SHOWN July Retail Sales Were 2.1 Per Cent Higher Than in Same 1930 Month. Further dch!h of retall business in ‘Washington department stores for July, as compiled hy the Statistical Depart- ment of the Federal Reserve Bank of Richmond, substantiate the previous! indications _earlier this month that business is better than elsewhere in the fifth Federal Reserve district. Extent of Gain, In a compilation of data made public teday it is shown that July trade in Washington was better than in July last year by 2.1 per cent, whereas busi- ness generally in the fifth district de- clined. In cumulative sales since Janu- ary 1 Washington stores lead with a galn of 2.1 per cent, Baltimore taking second place with a decline of 4.3 per h Richmond's t. lly ‘a seasonal decrease in stocks on hand was reported for Juiy, and at the end of the month practically all stores were carrying considerably smaller stocks than on July 31, ‘Washigton stores’ stocks were 10.4 per cent lml“fl‘ than on July 31, 1930, and ;g:l per cent smaller than on June 30, . The reporting stores turned their stocks .248 times in July, while Wash- ington stores turned theirs .271 mmgg 80% 26% 46% o, 70% and on the ap- lg'a ‘Washington Clearing for today, $2,816,777.23. NEW YORK, A 27.—Reports in | trade | um. the early purchasing. fting of price lines is indicated !n the type of bnyml done by a number of specialty shops. . With but three shopping days re- maining in the month, not much hope was expressed yesterday by New York retail ‘executives that sales figures for the sécond half will overcome the han- dicap of poor turnover during the first 15 days. Both periods were about equally poor in consumer response, and estimates yesterday were that the aver- age sales figures: for the full month were likely to show & recession of from 10 to 12 per cent as compared with August, 1930. A more pramising degree of activity |, has now developed in women's acces- sories for Fall, tracc circies in New York report. Orés./ recently placed by retal wers eafd to reflect added confidence in outlook for medium items. Part of the was attributed to the| 14% interest hwakened in the nmew offerings| 107 of accessories harmonizing with the Empress Eugenie and Victorian influ- ences in apparel Special efforts to incuce buyers to| increass the size of the orders which they place at regular intervals with chinaware groducers are being made by & number of manufacturers of popular pflne merchandise. The producers are concerned over the sharp shrink- | uring the past menth in the siac “such orders. SHORT- TERI SECVRI’HEB (Reported by J. & W. Beligman & Co.) Allis-chalmers Co, 8s 1031 "i. B So & joo. 101w 4 102 .'l it SESeSEeSgnie’ 35 F o S 28 ] Note—All stocks sre sold in one hundred-share lets excepting those designated by the letter s (80s) (250s). THE EVENING STAR, WASHINGTON, D. C, Recelved by Private Wire Direct to The Star Office. Btock and Bales— 3 Dividend Rate, Add 00, High. Low. 3 ™ Abitibi Pwr&Paper, 5 4 4 4 3 " Abitibi PwréPap pf. 1 124 *12% Y A'ham & Str (37%e), 39 38 39 w 21 ‘Adams Millis (2). 32y Adv Rumley. . 1 5 Alr Reduetion(14%). 8% Air Way Elee Appl. . Alaska Juneau (40c) Allegany Corp. 1 Allied Ch&Dye (né). 1 Allied Ch&Dye pf(7) 3 Allis Chalmers (2).. Amerada Corp (2) 3 Am Agri Chem(Del). 4 Am Bank Note (13) . 1508 Am Bank Note pf (3) 10s Am Can Co (15 Am Chain pf (T) Am Chicle (13)... Am Comel Alcohol Am European Secur. Am & For Power. .. Am & For Pwr pf(6) Am & For Pwr pf(7). Am Haw St'ship (1). Am Hide & Leath pf. Am Home Prod 4.20. Am Ice Co (3) Am International Am La France&Fom. Am Lo'motive pt (7) Am Pwr & Lt ($1)... Am Radiator (60c).. 2 Am Radiator pf (7).. 108 Am Safety Razor (5) 1 Am Ship & Com 1 Am Shipbuilding (5) 90s Am Smeit Ref (2)... b Am Sm & Ref pf (7). 1 % Am Solv & Chemical. 1 Am Steel Fdry pf(7) !0! Am Stores (t2%). Am Tel & Telez (9 Am Tobacco (16) . Am Tobacco B (16 Am Tobacco pf (6) Am Type Fy pf (1) 4 Am Water Wks (3). A 6 4% 2 PYOTETURUSEUEG - JRYRINY -4 6% oyes. 4 5%#Am Woolen Co Am Woolen Co pf. Anaconds Cop (1%). ‘Armour of Del pt (7 2 ‘Armour of I1I (A) A 3 i) :Is‘: ‘Arnold Constable. 2% 4 165 151% Atch To&S Fe (10) 64 Atch To&S Fe pf ( 18 12 Atlantic Refining (1) “ 24% Atlas Powder (4).... Auburn Auto (£4). Anto-lel‘ % Autosal « 30 Aviation Corv (Dll). Balto & Ohio (5).... Balto & Ohio pf (4).. Bang & Aroos pf (7). 20s Barnsdall Corp’n. . 4 Bayuk Cig 18t pf (7). 208 4 Beatrice Cream (4).. 6 Belding-Hemingway 17 Bel N Ry ptpf $4.82. 1 Bendix Awiation (1). 268 Best & Co (2) Bethlehem Steel (l) . Bn Bethlehem Stl pf u) 1 Blaw-Knox (1). 1 Bohn Alumn (l‘/.). . Bkiyn-Man T pf (6) Bkiyn&Queens pt(5) Bkivn Unfon Gas (5) Bruns Term & Rwy! 4 Bucyrus-Erfe Bucyrus-Erle c Bucyrus pf (1) Budd (BEG) Mfe. 9% Burrough A M(t1 Bush Terminal(234) . Bush Terminal pf(1): 402 Butte Copper & Zine Byers (A M) Co if Pack) 5" cumet & 4 Canada Dry G A (1), Canadian Pacific 13 . Cannon Mills (1.60). Case (JI) (6).....%. O Caterpillar Trac(3). Celotex pf... 1 Century Rib )(llls. 1 Century Rib M pf(7) 10s Cerro de Pasco (}).. 7 Ches & Ohto (23 ), Chesapeake Corp(3). Chi Great Western. i Chi & Norihwest (4). Chi Pneu Tool ..., Chi Pnen Tool pf. Chi R1& Pac (m2%) Childs Company ... Chrysler Corp (1)... 125 Gity IoekFuel vt 6% 208 Coca-Cola (+734) 4 Coliing & Atkroan Colo Fuel & Iron. Col Gas&Elec (2)... 18 Col Gas&EI pf A (5). Columb Graph (56c). Col Graph cfs ( Columb Carbon (5) Comel CreAit (2) Comcl Credit A Comel Cred pf (1%). 10s Comcl Inv Trust (2) 2 Comel Inv Tz pf 635, 210s Comel Solvents (1).. 34 Comwith&Son (40c). 16 Congolm-Nairn (1) Consol Gas N Y (4) 2! Consol Gas NY pf( Consol Laundries (1) ConsolRwys pf (6) 4 Consol Textile. Container Corp (B) % Contl Baking (A) Contl Baking (B) Contl Baking pf ( Coutl Can (2%) ) Contl Motor: 31% Contl Oil (De 30 Cohtl Shares. 24 3 ) Corn Product X 116 % 1% 19% 1 rown W P 18t pf(4) 508 Cream of Wheat 123% Cudahy Packing (4). Curtis Publish pt (7) Curtiss Wrignt. . Curtis Wright (A). Cushmans pt (£) 1.& Cutier Hammer . Davison Chemical... 107% Delawa 45% Del L Diamond Dome Mines (1). Drug Corp (4). Duplan Silk (1)..... v % Dupont de Nem (4) 5 1 25 Eastman Koflak ( Eastman Kod pf (6). 2% 4 Eaton Axle (1.60). Eitington-Schild pf. Elec Auto Lite (8). Eleetric Boat. . 4 Elec&Musical Instru 304 Blec Pwr & Lt (1)... Ik Horn Coal. .. merson-Brant (B) . ndicott-Johason (3) & Pub 8ve (1.60) ., 2 Pub Sve pf (8) .. Eauit Office Bldg 2% 2% 2T 3 27 | 5% 1 Fairbanks-Morse. . . 66 Fairbanks M pf (7).. - 165 Federated Dept Str £ 84 Fed Lt & Trac yun 4 Fliene's Sons. :‘l”': 109% 108% Food .f-cmnory 1%. 20% Foster Wheeler (1). 20% Fourth Nat Inv mébe ;;s Fox Film (A) (23%). ( Zedumuie o o - IO W ~Prev. L) &% Gilletto Saf Razor. . 62% Gilletto Saf R pt (5 814 Goodrich (B F) 80% Goos nar'r&nu) 0% Magma Copper (1).. mul'fii dividend. Glidden CO.vvvvuannr Glidden Co pr pt ('l) . Gobel (Adolf) Gold Dust (23) reat Northn pf(4).. Grea; Northn Ore(2) Greal Western Sug. igsby Grunow. ... kengack W (1%) Hacken Wat pf A 13 Hahn Dnt St pr(63) Hall (WF) (1.30) Hanna pf (7). . {arb & Walker (1).. iartman Corp (B). | Hercules Mot (80c) Hershey Choc (5)... Holland Furn (12%) Houdaille Harsluy” Houston Ofl. Howe Sound (2) . Hudson Motor (1) Hupp Motor: Tllinois Central indian Refining Indust Rayon (4). Inspiration Copper. Insur Shr(Ma) (40c In. Agriculture. Int Agriculture p! Int Bus Machine( g 2 DTTS THSTSIONN J50; 00 <N 9798 Int Combustio: Int Harvester DR B N~ & Int Papa & Pwr C qu'awr& I'wrp Int Dept Stores (2 Interst D S pf xw( Investors Equity. Jewel Tea (4). . Johns-Manville (3).. 60 Johns-Manv pt (7).. 10s 121% Joliet & Chicago (7) 10s Kan City Sou pf (4) . K’'mann Dept Strs(1) Kayser (J) & Co (1). Kelly-Spring Tire. .. Kelsey-Hayes Wheel Kelvinator Corp. . Kennecott Copper(1) Kinney (G R) Co.... Kresge (S 8) (1.60). Kreuger & T(m1.61). Kroger Grocery (1). Lambert Co (8 . lley Coal. . Lehigh Valley (2%). Lehman Corp (3).... Ligg & Myers B (15) Liquid Carbonic (3). . wn CRummmn Swarunsi oRem - .90) Lorrillard (P) Co. Lorrillard (P) pf (7) Lou Gas&EL A (1%). Ludlum Steel P (2% McCrory (B) (2). McGraw-Hill (2). McKeespt T P(15% ). McKesson & Rob(1). McKes&Rob pf(3%) Mack Trucks (3).... Macy (RH)& Co(n) . Mad Sq Garden(60c) . o munBas - 3 ] FranareaSwd Mallfson & C Manat! Sugar pf ManhatElev mod gtd Marshall Field (23) Mathieson Alkili (2) May Dept Strs (235). Mengel Co. Mid Contitient Petm. Minn Moline Pow. Minne & St Louis. Mo Kan & Texas. Mo Kan & Tex pf (7) Missouri Pacific. ... Missouri Pac pf (5). Monsanto Chem (1% Montgomery Ward.. Motor Meter G & El. Mullins Mfg. . Munsingwear Inc(2). Murray Corp Nash Motors (4). . vash Chat & St L( s S 3 BURAANB-T - AR SR A B B~ 0. at Cash Register Nat Dairy vat Dept % Nevada Copper (1) Y Central (). N Y Chi & StL pf.... NY N H & Hart (6). NYNH&HDI(T).. N Y Ont & Western. N Y Shipbuilding. Noranda Mines. orfolk & Southern. Norf & Westn (12). Norf & Westn pf (4) Nor Amer(b10% stk) North Am Aviation. . orthern Pacific Otis Elevator (2% Otis Steel pr pf ( Pacific Gas & El (2). Pacific Lighting (3). 3 Pacific Tel&Teleg(7)410s Packard Motor (40c) 4 Panhandle Pro&Ref. Paramt-P(m1.62%p) Pathe Exchang Pathe Exchange (A). Patino Mines. Penick & Ford (1). Penney (J C) (2.40 Penney(JC) pf A ( Penn Dixie Cmt pf Pern Railroad (3)... Petm Corp of Am (1) Phelps Dodge (1). #hila Co new (6).. Phila&Reading C & 1 Philip Morris&Co(1) Phillips-Jones pf (7) 10s Phillips Petroleum. 6 Plerce Oil. Pierce Petr Pillsbury Flour (2 Porto Ric-Am To(Z Pressed Steel Car. Proct & Gamb (2.40 Proc &Gamb pt (5) Public Sve NJ (3.40) . Public Sve NJ of (5) Public Sve Pub Sve G&E Pullman Corp (4). Pure Of Purity Bakeries Radio Corp. Radio Corp pf Radio Corp (B) (5).. Radio-Keith-Orph A. 54 Reading Rwy (4) 1 Real Silk Hosfe: Du 38% Safeway Stores (5) Safeway Strs pf (6).100s 15% StL-San Fran pf(¢ Safeway Strs pf (7 Retail Stores ';’:: List Reacts After Upturn in fis| Late Trading Yes- - terday. BY_GEOKGE T. HUGHES. Special Dispateh to The Star. NEW YORK, August 27.—A series of narrow and irregular price fluctuations left the New York stock market some- what lower at the close today. however, for one or two individual sues, there was not mh ch-wt be of any was Couraging ‘hing way tha ume was so small on an‘z}Ie features was heavy sell- ing in match stocks, said to come from abroad. luyln‘ of National Cash ter u‘; business -hom-deredonOeunl ‘There was nm.mn( in the stimulate buying of stocks. batch of rallway earning statements for July made the usual poor showing. Baltimore & Ohio had a net operating income of $2719,654, against $3,649,- 079 in July, 1930. Gress fell from $17,.- 306,765 in 1930 to $13,897,109 this year. The stock was off a point in the early trading. New York Central had a slightly larger loss. However, In in- dustrials as well as in rails, the de- clines brought out no mumuon It n'z‘oare. floor traders’ market and nothing Close watch was kept on the bond market, any improvement in which would be hailed as forecasting tor l&;t(,'h i} S cent at the £y §§§§E§§ PR fi!;fis i5s ES ength in Industrial Brokers’ Comment NEW YORK, {“E P nutton & Co—Despite chln‘e o( government, ‘the unaon is hesitant. The Laborites rates is not far off. be in & rather vulnerable position when iigeive ana. vou "“m"" adyist eharges itiative and voluntarily to the lower prices in mam.;r: is an in- while the I goods by trucks are only off a nominal percentage. Therefore, it is apparent that with any return to pros- perity Great Northern will Improve its position very rapidly. Paine Webber & Co.—Wednesday's advance, which amounted to jult lhmn e e bioal pro pmpor es, tions, (ollovdn( as it did, four days of conunud decline and 3 :;; oo August 15, T "The current minor :gwrn what further minl a reversal of downswing which began middle of August. Charles D. Barney & co—'n!! pres- ent situation may well prove to be one of those where technical and fundament factors work! against mb other keep the market in a hori- tal trading range for a number of mmthl In any event. until the mar- ket actually bresks o\l'. D( its present ve we feel that the ive trader justified in trying for qulck turns within the trading range. Jackson Bros, Boesel & Co—A month of steady vflfl& in other words, pm"l the idea that bearish and bull- mp are about. Null.ly mately one-half, lece of v de vexop- P! news de; stop-loss speculative long eemmpmlv.m:nu lhmxu! be continued, how- ever. Redmond & Co—Recent liquidation of railroad stocks and bonds apparently reflects waning hopes of investors for any material relief to the railroads this year from any decision of the Inter- state Commerce ion on the ap- plication for a 15 per cent increase in rates. Dow Jones lhlcl that THURSDAY, AUGUST 27, um l.nd thn en- t it refused to 80 any lower than it dul and that vol- the reaction. news to Another terling exchange k 22224 21a22; roosters, 12a13. 1931. FINANCIAL. *¥% A—13 NEW YORKER WINS NOMINATION |PAPER EWTS VALUE "PER CENT AS INVESTMENT BANKERS' HEAD Allan M. Pope Scheduled to Sticceed Henry T. Ferriss; Other. Changes Planned. Newly Chosen Executive Started Career as Officer in U, S. Army. Specis! Divpatel o The Star. CHICAGO, August 27.—Allan M. Pope of New York, executive vice pres- ident of the PFirst National Old Colony Corporationy has been nominated for the presidency of the Investment Bank- Other Nomimations. to be voted on nt Little of Chicago, to succeed himself; for vice ts, James H. Daggett, Marshall & Lisley Bank, Milwaukee; Charles B. Dk&y. Brown Bros., Hsrrl- man & Co.. Phila ; wmum Eddy, Chase-Harris-] tion, New York; Dietrieh Schmltl. Pa. cific National Co., Seattle; C. T. Wi lams, c ‘r. Williams. & Co., !nc Bal- timore; T. Bacon, Bacon, W le . co tcago; for secretary, C. Felske, Chicago. Nominations to paluom on the Board of Governors for terms expiring in 1934 are: tinental Illinois Co., J. McNabb, Guardian Detroit Co., Inc., Detroit; Francis Moul- wu‘nu.uwmbooummnu Russell Bell, Greenshields & Co. l(oflh'fll B.lrry F. Btix, Stix & International Co. of Denver, ver. Nominations to fill unexpired terms ending in 1932: Henry T. Perriss, Pirst National Co., Louis, ex-officio, as retiring ux- dent, lmmberotnenyurlbolrd Franeis Bonner, Lee, 27.—8tock Ex- | City. Pope’s . ‘The newly nominated president of the Investment Bankers' Association of America is a graduate of West Point and served on the general staff of the A. E. P in Prance as a major and as a lieutenant colonel. He from Butter—One-pound vflnfil.fl !ub, 31 ll-—-ncmery. 26a28; *“Boditry. _aitve—spring 3 15% to 2 wunb.'M Dressed—Spring broilers, 3 pounds and over, 32a33; 2 to 2'; pounds, 29a ‘fi to 2 27228 hens, 25826; 23, rmm, 13al4; Long Island ducks, 21a uuu ~— Beef, prime, 16%; choice, 15%;a16; good, 141;a15; Texas steer, 13 al4; cow, 12; veal, top, 15a16; good, 14; ) 20; Elk loins, 8 to 10 pound average, - 10 to 12 pound av- erage, 22a23; fresh hams, 19; smoked mxou, 21; strip bacon, 22a23; lard, 10a Live stock—Hogs, heavy, 5.50a6.50 and medium, 6.85. igs, :50' nmm. CORPORATION. ALTIMORE, August 27 (Special).— Nel profit of the Arundel Corporation in .vuly nmounfiod to $171,999.50, com- ith $309,820.68 in the like mnn?.h MONEY TO LOAN At 514% and 6% Interest Betore Placing or ‘Renewing Your and 24 Trusts Consult WEI.CH. luhar ver N.w. A Mc-.m«) I vold hea ntis \\omvo:“\fid m‘h‘mfl!‘o use more coal than you should, you need a new Pierce-East- wood boiler! Famous for years! Backed by a reputa- tion for satisfaction. Always”Insist on HELE Il Eééfz ALLAN M. POPE. !nrmnuan of the Pirst National Old y Corporation, which is now one D! the largest investment stitutions in the coun 21 American_citles and 'representatives in London, Paris, Berlln and Buenos Alres. Mr. Pope was born in an Novem- ber 24, 1879, and is a descendant of two of New England's oldest rlmlhes. He received his early education at the Prince School and Boston Latin School. In 1899 he entered the United States Military Academy, from which he was graduated in 1903 and commissioned a second lieutenant of Cavalry. He served in the Philippines and in 1916 was commissioned a captain. On the en- try of the United States into the ‘World War he was advanced to the rank of major and attached to the nnerll staff. Mr. Pope is chairman of the advisory council and a member of the Executive Committee of the First Mortgage Loan Applications Invited at Glover & Flather 1508 H St. N.W. National 1753 Money Available for Mortgage Loans ONSULT us concerning the refinancing of that FIRST TRUST—or the making of :'lflv loan on Apartment House, Ofice Building, Residen- - tial or Business Properties. Our facilities for' prompt service are m‘flm—m with ample funds available to meet lny approved mb- cation. Loans' made on properue. lo- cated in Washington or nearby, land and Virginia—for 3, 5 and 10 year 5%% B. F. SAUL CO. 925 15th St. N.W, Nat’l 2100 MORTGAGE LOANS invite applications for FIRST MORTGAGE LLOANS on residences and business properties in the District of Columbia and nearby Mary- land suburbs Lower Costs, Long Term (if desired), Valuable Prepay- yearloans on newer proper- ties without amortization Rust COMPANY