Evening Star Newspaper, September 2, 1931, Page 13

FINANCIAL Note—All stocks are sold in eme hundred-share lels ing those designated by the letter s (80s) (lu-)‘;m BANK SFOCKS SHOW| [ NEW YORK STOCK EXCHANGE g 3 u;'v. Abitibi Pwr & Paper, Leading Issues Sell Off Dur-| 22 11 AN resa . ing Month of August. Trading Light. 36 Gen Mills (3). 96 (Gen Mills pt (8) 311 Gen Motors (3). 40% ‘(.‘;2.. Unfavorable Business News 94| Causes Further Selling 2 of Leading Shares, 224 Adams Millis (3).. 708 Air Reduction(t4%) 314 Air Way Elec Apnl, , 7 Alaska Juneau (40¢) 15 Allegany COrp,..... Allied Ch&Dye (nf). Allied Ch&Dye pf (7) Allis Chalmers (3).. ‘Amerada Corp (2).., Am Agri Chem(Del) . 334 109% 10% 204 BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 2.—Weak- BY EDWARD C. STONE. 23 New York bank stocks, which are so | 293 widely held by Washington investors, 62% again displayed a downward trend dur- | jgq,, ing August, but the decline was slight | 15214 compared with earlier months of the :: year, according to averages compiled by | . 4% 2 well known New York financial house. | 831 Trading was light and the high and low fi'l‘% range was the narrowest for any month | 9 thus far in 1031. The average for 16 79 leading issues recorded a high of 80 a m»: share on August 15, a low of 84 on 30 August 25 and ended the month with o 31% 26 an average of 85. Two stocks were strong and active during the month and moved against | g5, 43% 39% 62% Gillette Saf R pf (5) T% Glidden Co.....vvuan 48 Glidden Ce prpf (7). 10 1% - [Sp o, the stock market out of its rut tods; down side. Selling of the ra took the averages to a new low 2% | for the bear market, was based on & car loadings' statement poorer than had been expected and on the passing of the dividend on the eommon stock by the Lehigh Valley. The carricr shares made their lows in the last hour, when Atchison and New York Central, among others, broke % Guantanamo Sugar., through their old resistance points. In- B__Guantanamo Sus pt, dustrials and ublities were lover, but 30 6% Hacken Wat 1 not as weak as the ralls. act, con- 4% Hahn Dept !(l:)rel... 1 sidering the pressure on the latter, the 50 Hahn Dpt 8t pf(6%) general list did not do badly. Hall (WF) (1.20) ‘The market had at least two unfav- Hanna pf (7). orable news items with which to con- 8% | tend. One was the tenor of the week- ly iron and steel trade reviews. though preduction was unchanged from last week at 31 per cent, opinion in AL H 30% GoodyearT & R (3). I CRE Ay ge (1) 214 Graham-Paige. ....v Ap Coal (4)......4. 1 Am Comel AIGoRol. . 13 Am European Secur, Am & For Power.... Am & For Pwr pf(6), Am & For Pwr pf(7). Am & For Pwr 2d pf. Am Haw Stship (1 Am CanCopf (T).,. Grand Sil Strs 10% Grand (nion. . 25% Grant (W'T) (1) 3% Great Northn pf(4).. 17% Great Northn Ore(2) 7w Great Western Sug. . 2% Grigsby Grunow,... mcmoeStacnenen Am Ice Co (3).., 4 Am International. the trend. Manufacturers’ Trust rosé Am Losmotive (1) from 41Y, to 46%, closing at 46)2, & net gain of 4!, points. Guaranty Trust, after touching a high of 454, dropped to 423 and then recovered to 441, a net gain of 18 points from the low Insurance stocks, according to the averages, showed little change, ranging between an average of 53 and 54 during the entire month and closing at the low levels. Business Upturn Forecast. While Washington financiers are pre- dicting some degree of seaso! o improvement after Labor day. cast made by Slaughter, Anderson & Fox of New York is timely. The Stock Exchange firm says: “Commodity prices throughout the world have been and are thoroughly liquidated. England, through its emer- gency cabinet. has solved its financial troubles, which makes for a more stable Europe. We are more dependent upon their prosperity than most people here care to admit. “Our own condition is bad, but it has been as bad before, but on each re- covery, this country has reached new heights in prosperity and there is no reason to suspect that it will not do ain. * “"lq'he security market has reached a point where no matter what the news is, it does not break. Consequently, it has every appearance of being thor- oughly sold out. With any return of confidence, good companies, with active management, will be most prosperous. Only about once in 10 years do in- vestors have an opportunity such as is offered today.” City Lauded as Sales Mart. hington and surrounding terri- tm}:'l % gru:uperl with New York, Chicago and Boston as one of the Nation's equal sales zones, in a newly completed sales survey based on an analysis of 19 busi- ness factors obtained by marketing ex- perts, whose findings are supported by United States Government reports, chambers of commerce statistics and other trade indices. This city is called one markets of first importance in the sur- vey, which was prepared by F. K. An- derson and L. J. McCarthy, directar and associate director of the marketing division of the International Magazine Co. The business factors which were studied in its compilation include popu- lation, bank deposits, personal income returns and volure of business. The survey shows that from 60 to 70 per cent of the Nation's consumer strength is concentrated in 641 cities of the country. Today’s Trading on Exchange. Bonds again were the most popular during today's session of the Washing- ton Stock Exchange. Potomae Electric Power Consolidated 5s opened trading with a $1,000 sale at 10435. There were e Cntoats CorD, two $1,000 sales in Washington Gas 55| g7, o et at 107, and two $1,000 transfers in Cap-| 253, o jtal Traction 5s at 83. Gas 6s, series B, : came out at 105. L e T Potomac Electric Power 6 per cent Corr Ao PaLe0 (1) s preferred stock moved today at 112%g Checker Cab Mrf and the same corporation's 5'; per cent stock sold at 111. Merchants Transfer & Storage preferred sold to the extent of 20 shares at 91. Forty shares of Real Estate Mortgage & Guaranty prefererd appeared on the board at 62, and 10 shares of Norfolk & Washington Steamboat stock came out at 195. The local exchange will be closed npext Monday, Labor day. Financial District Gleanings. W. W. Keck, assistant treasurer of the American Security & Trust Co., has returned from a three-week motor trip to Niagara Falls, Montreal, Quebec, and several other places in Canada. George A. Garrett, resident partner of F. B. Keech & Co., has returned frcm 8 visit with William Woodward at New- port, R. I Edmund S. Wolfe, president of the natlonal bank division' of the American Bankers' Association, will preside at the trust_conference to be held at Grand Rapids, Mich., September 17 and 18. Mr. Wolfe is a former cashier of the District National Bank in this city and now head of the Pirst National Bank, Bridgeport, Conn. H. Kenneth Murray of the local office of Hemphill, Noyes & Co., has returned from his vacation, passed at Ventner, N. J., and Lawrence R. Leeby, connected with the same firm, has gone to North Dakota for a visit with relatives. Several Dividends Declared. The local office announces that Swift & Co. has declared the regular quar- terly dividend of 50 cents per share, yable October 1 to stock of record leptember 10. ational City Bank declared regular arterly dividends aggregating $1 a re, payable October 1 to stock of record September 5. Remington Rand, Inc., has declared the regular quarterly dividends of $2 on the second preferred and $1.75 on the first preferred stocks, both payable Oc- 1% 1% Cuban Domn Sugar.. tober 1 to stock of record September 9. 5% 21 Curtiss Wright...... gcDjrectors of Bankers' Prust Co. have 2 3 Curtis Wright (A).. eclared the regular quarterly dividend | =5—Tr—eers & Co T (1100, of 71 per cent, payable October 1 to| (22, 18 ~Desre & Copl (1.40). stocholders of record September 11 | 107% 19T1a Detawaref (fnd (09 soashington clearig house figures for | Joi 1403 Detroit Edison (8).+ day: $5,701,624.36. 19, 11 Devoe & Ray A(800), o #3° 14% Diamond Match (1).. Check Payments Gain. 281% 24% Diamond Mtch pf 1% 18% 8% Dome Mines (1).seee BALTIMORE, September 2 (Speefal).| 78% 61% Drug Corp (4)seecen —Checy payments by Baltimore banks | 107 = 71 Dupont de Nem (4).. showed an increase in August over the| 124% 118% Du Pontde N pf(6).. corresponding period of 1930 for thef 107'% 102 Duques Lt 1st pf (5) first time this year. Totaling $371,727,-| 23 _ 21 _Durham Hoslery pf. 894 for the four weeks ended August 26, 118 (18) ere was a small expansion of $5.853,- ‘ 544 over ihe figure of $365,874.050 for v 8- ert I the four wecks ended August 27, 1930. Bank clearings for August, as an- nounced by the Clearing FHouse, can- tinued below the 1930 level, totaling $321,083,378, as compared with $356,- 378,410 for the same month last year. gated $5005.024 10, 2n againnt $3990,- gat 668,024,416, as agal 239, 102% Endicott-John pf (7 860,149 for the 1930 period. 27 Equit Office Blgl zd NEW YORK BANK STOCKS | i it Bureka vao 4l Fairbank Ployeee NEW YORK, September e 10% Fairbanks-Morse, ., ©Qver-the-counter ml‘;kat: . 11% Fed Wat Sve A(1,20 First Natl Strs (2 Bank Stoc! erica ....... inge’ . 5 Chat Phenix Commercial Natl ' rst Natl N ¥ anhat Co . Nadl Gty 86 it, was that “hopes for seasonal re- covery are waning.” The other item was the car loading statement whieh, although it showed an increase over the preceding week, was less than normal at this time and therefore dis- appointing. The market opened steady but soon ran into offerings of the rallroad stocks. Ca- nadian Pacific dropped under $20 a s| 5 which is the lowest price for the present stock and corresponds to less than $80 ® share for the old stock. This would make today’s quotation the lowest in over 30 years. Chicago & Northwestern went to a new low and Pennsylvania and New York Oentral came within fractions of their previous lows. During the morning it was announced that the Lehigh Valley road had omitted the dividend on its common stock. A break in the market followed and Lehigh Valley made a new low. The Street heard varying reports as to the probable action of the Interstate Commerce Commission on the applica- tion for freight rate increase, but they were all abviously inspired by the mar- ket and were not a reason for the weakness. best opinion is that the commission will grant the application, at least in part. ‘Am Ship & Com. Am Shipbuilding Am Smelt Ref (3). 4 AmSnuff (13%). Am Snuff pf (§). 4 Am Solv & Chemi Am Stores (1234) Am Sugar Ref (5 Am Tel & Teleg (9) Am Tobaceo (16) Am Tobaeco B (16) ‘Am Woolen Co. . ‘Am Woolen Co pf. Am Writ Paper ctf; Am Zinc & Lead. Anaconda Cop (1% Anchor Cap (2.40). ‘Archer Daniel Mid Armour of 1l (B), Associated Apparel., Asso Dry G (2%)..o Atch To&S Fe (10),. 100% Atch To&S Fe pt (5), 78 Al Coast Line (7)... 11% Atlantic Refning (1) 1013 Auburn Auto (£4).., 1 Autosales,., 3 Aviation Corp (Del), %% Baldwin Locomot! 60 Baldwin Loco pf (T). T 43 Baito & Ohlo (5) 47 PBang & Aroos (3%).. 993 Bang & Aroos pf (7). 5% Barnsdall Corpn. ... 78 Bayuk Cig 18t pf (7) 4413 Beech-Nut Pkg (3).. 1% Belding-Hemingway 147 Bendix Aviation (1). Best & Co (2)... Bethlehem Steel Blaw-Knox (1) Bohn Alumn (134) Borden Co (k3).. Borg Warner (1)..., Briggs Mfg (11%).. Bklyn-Man Tran (4), Bklyn-Man Tr pf (6) Bklyn & Queens, ..., Bklyn Union Gas (6) Brown Shoe (3). Brunsw-Balks. . Bruns Term & Rwys. Bucyrus-Erie......0 Bucyrus-Erie ev pf.. Bucyrus pf (7).. 714 Budd Wheel (1). 815 Bullard Co. ... 19's Burrough A M(t1 113 95' Bush Terminal pf( 20% 9 Butterick Co.. §9% 23% Byers (A M) Co. 13 Callahan Zinc & Ld. 5 Calumet & Hecla. 2907% Canada Dry G A - 20% Canadian Pacifie 14 51% Case (JI) (6). 86 Case (JI) pf ( 21% Caterpillar Trac 4% Houdaille Hershey 27 Houston Oll.. 6 Houston Oil (n 11 Hudson Moter (1) 5% Hupp Motors. ... . B 6% Illinois Central (4).. 114 Indian Motor Cycle. . Indian Refining .... Rayon (4). ., w0 AR R ARR A A SN T NE—Ne D 21% 1% 141% ™% T4 Int Hydro El A (e2). Int Match pf (4). . Int Nick of Can(40e). Int Paper & Pwr C.. Int Rys Cent Am. Int Salt (3). Int Shoe (3) Int Tsl & Teleg (), 1113 Int Dept Stores (2). . 571 Interstate D8 pf(7). 375 361 JewelTea (4. <vevre 80% _40% Johns-Manville (3).. K’'mann Dept Btra(1) 1% Kelly-Spring Tire. .. 8 Kelsey-Hayes Wh 814 Kelvinator Corp. . 20 Kendall Copf (8)... 14% IKennecott Copper (1) 23% Kinney (G R) Copf. 25 Kresge (S8) (1.60),, 42 Kress (8H) Co (j1),. 13% Kreuger & T(m1.61), 18 Kroger Groecery (1), Tambert Co (8)..... 414 Lehigh Valley Coal., 374 Lehigh Valley (213). 69% 45% Lehman Corp (3).... 20% 11% Libbey Owens Glass. 91 60 Liggett&M 15) 91% 60% Ligg & Myer: 33 22 LinkBelt (2). - 561 20% Liquid Carbon! - 631 364 Loew's Inc (3) 5 98 83 Loew'sIncpf 61y 2% LoftIno 547y 40% Loose-W 217y 11% Lorrillard (P) Co. 102\y 904 Lorrillard (P) pf 36% 26. Lou Gas&ElA (1%). 19 Bix Ludlum Steel....... 5 361, 197 Mclntyre Forc M(1), 103% 65% McKeespt T P(1534) 17 7 McKesson & Rob(1). 10% 4% McLellan Stor 431 2115 MackTrucks ( i 106% 66% Macy(RH)& Co(n3), 39 26 Mat clev mod gtd 4 18% Marine Midld (1.20). 17 Marlin-Rockwell (3) 2 Marmon Motor Car. . 323% 28 Marshall Fleld (2%) 3133 17% Mathieson Alkili (2) 28 May Dept Strs (2%). 5% Mid Continent Petm. 11 Minn Moline Pow. % Minne & St Loul 9% Mo Kan & Tex o 353% Mo Kan & Tex pf (7) 14 Missouri Pacific. .. 107 50 Missouri Pac pf (5) 215% 10% Mohawk Carpet..... 20% 15% Montgomery Ward.. 19% 8% Motor Wheel (1). ss',: ln: Mullins Mfg. .. penditures were $10,231,932.40. ) - b dalihih 72% 36 Mullins Mfg pf (7).. -—— — INVESTMENT TRUSTS 31 16} Munsingwear Ine(2) 18% 64 Murray Corp... NEW YORK, September 2 (®).— Over-the-counter market: 291 46y 18% 31y 20% 15% 60 31y MOVEMENT OF COAL TO MARKET INCREASES Bpecial Dispatch to The Star. NEW YORK, September 2.—Railroads carrying coal from the bituminous mines in Pennsylvania and in West Virginia Teport an increase tn ear loadings dur- ing the past two weeks. This repre- sents deferred tonnage occasioned by the strikes that continued in many of the coal throughout the Sum- mer and also the normal demand in connection with the pick-up in indus- try in the Autumn and the accumula- tion of supplies at lake ports. ‘This gain in momentum is reflected in the carloading figures for the week ended August 22 and will be more pro- nounced, it is understood, for the final week of the month. It will not, how- ever, have much effect on August rail- road earnings, but during September may help to offset losses in general mer- chandise and in agricultural products. PARIS BOURSE PRICES. PARIS, September 2 (#).—Three per cent rentes, 89 francs 10 centjmes. Pive per cent loan, 104 francs 50 centimes. Exchange on London, 123 francs 90 centimes. The dollar was quoted at 35 francs 50 centimes. 311 3414 944, 13% of America’s| 129% 451 15 914 207 847 14 13 23 321 © 0 U A AN RO BRI~ ED AN IR R A, e 3 614 12% 104 1% 1% 45 45% 131% 116 52% 16 U. 5. TREASURY BALANCE. The United States Treasury balance announced today as of close of busi- ness August 31 was $133,791,197.82 Customs receipts for the month to date were $38,240,231.70. Total ardinary ex- 26% 27 4 2 2715 Chesapeake Corp(3). e 15% Chi Great Westn pf., 814 Chi Mil StP & Pac. .. 4% Chi Mil StP & Pac pf, 284 Chi & Northwest (4). 221 Chi R1& Pac (m2%) 14% Childs Company. .... 124 Chrysler Corp (1)..+ 2 City Stores. 10 City Stores (A). 1388 Coca-Cola (17%).... 40 Colgate-Pal-P (234). 101% Colg-Palm-P pt (6),, 9 Collins & Aikman. .. 71 Collins & Aik pf (7). 3568 9% Colo Fuel & Iron 3 20% Col Gas&Elec (2) . 98 Col Gan&EIptA (8). 7 6 Columb Graph (56c). 5 6 Col Graphcfs (s6c). 3 55 Columb Carbon (5),, 61 13 Comm Credit (1.60).. 4 20 Comcl Inv Trust (2) 4 101% Comel Inv Tr pf 6% . 2808 82 Comm Invevpf(es). 1 10% Comel Solvents (1)., 36 6% Comwlith&Sou (40c). 48 90 Comwlth&Soupt (6) 1 6% Congolm-Nairn (1), 11 54 Consol Cgrpr pf 6% . B0s 59% Con Cgr prpf xw 614 20s 10% Consol Film pf (2).. 2 8214 Consol Gas N ¥ (4).. 101 Consol Gas NY pf(5) 11% Consol Laundries(1) 25 ConsolRwys pf (6) 1% Cansol Textile. . 114 Contl Baking (B). 40% Contl Can (215 815 Contl Dia Fib 34 Cont Insur (2.40). 2 Contl Moto: 5 Contl Ofl (Dl % 55% Corn Products (14).. 146% Corn Prod pt (1) o ~5 Nash Motors (4), d. Asked. -1 sl §"' T Supy t Sure: v ot (1) y (2). At ore 8% ph oo 3 Pounders 1% D unders 1700 o unders C\"&( ctis Pounders_1-40th com Ins vada Copper (1).. EX N NYChi&StLpf.... N Y Investors....... 3 SR Ont & Western. Shipbuilding. Shipbldg pe(7). N Y Steam pf (6). N Y Steam 1st pf( Noranda Mines. . ... Norf & Westn (112).. North Am Aviation, . Nor Amer(b10%stk) North Amer pf (3)... North Am Ed pf (6). Northern Pacifie (5). 19%2 7 OhioOfl...cesvsvcns 26 10 Oliviarm Eq pr pf.. 120% 124% Otis Elev pf (6)..... 89% 26% Owens 11l Glass (2) 8 1% Pacific Coast 2d pt. .. 54% 38 Pacific Gas & El (2)., 69's 48l Pacific Lighting (3). 181% 116 Pacific Tel&Teleg(7) 11% 5% Packard Motor (40¢) Park Utah. . Paramt-P(m1.62%p] Parmelee Transport. Pathe Exchange Pathe Exchan Patino Mines. Penney (J C) (3.40). Penney (JC) pf A (8) Penn Dixie Cemen 03 i Chain Chain I | B Buoa¥Bul 8, SAXELLR 5.0l PYPTRPREIR =PRI - FE-17F PRI (ORI SINVPY- Invest & Gen Eq tore Store Invest B 56% 53 102 60% __30% - S e 6% 63 il . . 2% % Cuba Cane Products. 5% 2% Cuban-Am Sug: Peoples Gas(Chi) (8) Petm Corp of Am(1) Phelps Dodge (1) Phila Co new (8). Phillips Petroleum Pillsbury Flour (2) Pitts & W Va (6) . Poor & Co (B) Porto Ric-Am Prairie Pipe Line(8 Pressed Steel Car. ..« Proct & Gamb (2.40) Proc &Gamb pf (5).+ Public Sve NJ (3.40). 102% 95 Public Sve NJ pf (5) 120% 109% Public Sve NJ pf (6) 58% 28 Pullman Corp (4)... 101% 66% Pure Oil pf (8). 56% 21 _Purity Bakeri 7% 18 Radlo Corp. 60 814 244 114 29% 17% 97k 60% 80% 5 19% 5% 98 51 10% 5 25% 10 54. 27 13 b4 22% 11 b4k “ll'r'u 100 3% A 16% Rossia Insur (2. 1 28 2 2314 Royal Dtch(m3.87 Sway Stores (5)s. B4 (Continued on Fage 14), o 2.8 185% 21% T4% 110 4% 9Ty 60% 98Y% 66 2] Exstman Kodak fanage - atl e tional Indust Shaves N:&fifl fi;‘éé shates oni Norin-Amer Trist Northern Seeur - i b | B )i 9 8% 16% 16% 3 8 63% 624% 112% 112% 80 791 Elec Auto-Li 2 Electric Boat. 613 Elec&Musical Inst. 30% Eleg Pwr & Lt (1). £0 Elec Pwr & Lt pf(6 49% Elec Starage Bat (5) 30 Endicott-Johnson(3) ) i 112 107 961 72 T A, T shate i gec A. ey 45 116 35 ’Em. Asked. .§ 10215 - 31% 3 6414 17 324 96% Florsheims pf (6). 15 Food Machinery 13, 204 Foster Wheeler (1), 475 Foundation Co : 204, Fourth Nat Iny m556 38% 11% Fox Fim (A) (2%), 434 22 Freeport-Tex (3)... 60 877 GamewellCo (1), ... % 4% Gen Am Investors.., 78% 52% Gen Am Tank Car(4) 47 154 Gen Asphalt (9)..... 5% 7 Gen Cable (A).... 36 - Gen Electrie (1.60).. 11% Gen Elec'spec (60¢) w ublic Steel. ublic Steel p! ere Copper. nolds Metls| Reynolds Tob B (3) Richfield Oil. Rio Grande Oil Ri Trust Compauies. Bankers . gfiwnyunk & T} em Tr ... Cont ;: & Tr rn Exch ipire arant: ness in the railway shares finally broke r"“‘ the trade, as the Iron Age summarized | toes, Butter—One-pound prints, 31; tub, E Hennery, 28; current receipts, Poultry, all brolers, 3 nds 26827; and over, 2 to 3% nds, 24a36; 1'; to 2 pounds, 22a33; , _22a24; hens, large, 24a35; small, 21a22; roosters, 12al3, Dressed—Sprin; 1 and 30; Meats—Beef, prime, 16%; medium, ;B veal, top, 16; lamb, 19; pork d average, 26; 10-12 pound average, 3; 12-15 pound average, 20; fresh hams, ; amoked hams, 22 loupes, homsgrown, 50a75; shippe 1.00; apples, 50a1.25; peaches, 5 pears, 275a3.00; plums, 1.50. 3.2525.50; lemons, 6.50a8.00; r 100, 1.25; Persian melons, 2.00; ydews, North Carolina, 2.00; Cali- fornia, . 2.25a2.50; pes, homegrown, 1. !.'(:0-2.15; pineapples, 4. berries, 4.7525.00; prunes, 1.10; bananas, 1.6082.50. Vegetables—Potatoes, per barrel, 2.00a 2.35; sweet, per bushel, 75a1.00; string beans, 1.25a1.50; limas, 3.50a4 00, toma- , 7581.00; peas, 3.00; cucumbers, 75a1.00; lettuce, Iceberg, 3.50a7.50; cab- bage, 50; spinach, 1.50; New Zealand, 75; kale, 60; turnips, 1.00; peppers, 75; corn, five-dozen sacks, 75a1.00; earrots, per 100 bunches, 3.00; beets, per 100 bunches, 3.00; peas, 3.00. DIVIDENDS DECLARED NEW YORK, September 2 (#).— Extra, Hidrs Tecor Bep. 16 e Pay- Compan: Rate. riod. _abl Hazel AUlds Glass ol Inereased. Hazel Atlas Glsss. .76¢ Q Oct. 1 Sep. 16 Omitted. d: Co. dividend RV s T 5088 wrauy Lawet & DU ht’m"s PR 8% @ A B © Trust Shar ri due at this time Due Sep. 1 Due Bep. 15 Resular. Alab :‘ Vi lbl}?.;""i o e : Am Bank Note 5&: L Ra e § 5E8 cperpemr: 80 Biae Froa Lia A4 30 s Pro gc B . . 50c Cap Sec Co pf.. 52'ac se Brass & O D! ...31.80 Cleveland Rwy $1.50 Demp M Mfs pf 317§ Paitfield Trust Co (Feirfield. Conn.) 50¢ Prankfort & Bouthwark Phila v 50 auif Sts gv Do St Jamestown % 1st p N2t Bl Bank *Nal n Nova_Scotia L3 Bois »C e g Soutnern New Eng Tee 1% pr'pe LTS Felhen 2175 3 Un Li & Pow A... 35 111 150 o fC i & 8hi A Vicksburg B 0 CRsbure Shreveport P:'I' Ry......52.50 Western Canada Flour Mills Ltd pf $1.62% Winnives Bice of §1 B W‘Iumwn Pub il % pt .. “ll"‘)"" | 5 Do 64 pf 1180 Q Sep 31 Aus *Includes diyidends it o S ek el = =5 000 PO nm © PODOOL WOOOO OOOMO OO OO O 00O LOOOLOO % g3%ee 8 £t First Mortgage LOANS —For Buying —For Building —For Refinancing completed properties. JO delays are encountered in securing loans on first mort- es at reasonable rates. rmit us to give you further information without™ obligation on your part. REALESTATE . CORPDRATION 1610 K St. N.W, National 1403 Tth and Indiana Ave. NW, LOANS ON IMPROVED DISTRICT OF COLUMBIA REAL ESTATE SECURITY 66th Series of Stock Now Open For Subscription E. Connelly James F. Shes ent Secretas Monay to Loan ""r"‘mflui%‘*‘fiilfi-f'.‘. S ommieeten el Joseph T Weller 5574k s § St WE MAKE FIRST TRUST LOANS on y IMPROVED RBAL ESTATE" IN AMOUNTS OF t) TO $1,000,000 IN THE DISTRI( r VraaimAY cO. OF 3, § or 10 Prompt Decisions Given Afpucafiom 5%% REST BOSS and PHELPS Realtors Loan Con L“"'Eic-u i n Corre Exj 10 | imports 173,534,234 FINANCIA DECREASE IN RAIL BONDS UNJUSTIFIED BY the Assaciated Press. Capital market observers lay a goodly preportion of the unsettled market conditions at the feet of frenzied in- Vestors. Specific reference was made to in- vestors in raflroad bonds, where ft was sald sound judgment had often been sperificed in the indiscriminate sell- 2% of this group of securities. <. rerusal of price quotations of rafl- road “ouds on the New York 8Stock Exchange would seem to prove that this was fair. It was readily conceded ihat the present situation with respect to rallroads was not favor- able, but on the other hand there were many carriers with an unassailable pos sition with respeet to eash and collat- eral holdings which would assure pay- ment of fixed charges for an indefi- nate period. It was significant that bonds of these roads have joined in | the general downward movement. | Much of the selling of railroad se- curities may be attributed to a mis- taken impression on the part of the hlfiflng public that savings institutions will be “forced” to liquidate their holdings when such holdings do not come up to 1 requirements. In this connection the National City Bank called attention to the fact that in New York State, where 44 per cent of the country’s total savings are seg- regated, the law prohibi purchase of bonds not on the “legal list,” but | did not iy bonds already held | must be sold. The latter were left en- | tirely to the discretion of the state | superintendent of banks as to whether he would compel disposal of the se- | curities. The institution presumed, in this case, that it was unlikely the sav- | ings banks would be either required or | inclined to sell at a sacrifice any rail- | road bonds that were well secured and had a good record. GAIN IN U. S. IMPORTS | s REVEALED FOR JuLY By the Assoclated Press. A slight galn in imports and a small | drop in exports for the United States | in July, as compared with the pre- vious month, was announced today by the Commerce Department. The department announced total ex- $266,761,372 in Julr, | Hi were $174,474,422 against | ports for June were $187,189,909 and | : | Contract Is Awarded. ! NEW YORK. September 3 (4).—Th National Transit Oo. has awarded & | contract for modernization of its six- | {nchk p‘!p!lll;e u;ossbPennsylvamL ‘The work includes the buil of- several additional stations. R Equitable Co-0 inived 1879 First Mortgage Loans Lowest Rates of Interest and Commission Thomas J, Fisher & Company, Inc. New Economies | in Utility Operation ALF-YEARLY reports for 1931 reveal opera- ting econdhiesto be general among the electric sad ges utilities. Leading executives have stated that these economies will be largely permanent, and will be reflected in increasing amount of earn- ings available for bond in- terest. This will improve the aiready strong position of bonds of leading public utility companies. ‘Telephone BOwling Greea 9-3957 or write for Booklet “Bargains in Bonds”. 61 Broadway New York City Re-Finance Buy or Build D. C. Property Through Our Loan Plan no_commis- no_renewals . ranged pay- te the advan- 6% interest . . sion: convenient] ments. Invests s of our Loan Pian. . i g Opé¢n Daily 9 to 8 Saturdays_Until Noon NAtional 1381 PERMANENT ot St TS eive Bldg. Ass'n | 51st YEAR COMPLETED JOBN JOT ERSON, President WALIER b PRATT, Jr., Secretary Subscription for the 101st Issue of Stock Being Received See US If You Wish a Loan Those who desire to borrow money to pur- chase a home, refinance present indebtedness or improve property, should see us. Applications will receive prompt and cour- teous attention. Loans Repayable Monthly No Brokerage . . . No Commissions 915 F ST. N.W. on Real Estate * or to Take Upa ¢ First Mortgage | “MyBoy—SaveYourMoney” | START NOW—IT I Ii you save—cther good will save your VITALITY—You will accymulate Three earmarks Investment Bldg. Washington, D. C. VITALITY—WISDOM—MONEY (You gan become FINANCIALLY INDEPEN. : DENT by depositing a few dollars regularly with the UNION TRUST COMPANY OF MARYLAND.) FURTHER DETAILS CALL NATIQNAL 3753 INCOME FOUNDATION, INC. S A GOOD HABIT 3 habits will follow—You WISDOM of contentment! Continental Bldg. Baltimore, Md. TH OF E QUESTION PROFITABLE INVESTMENT isn’t a secret, known to a few; but is purely a matter of reflective judg- ment. That which provides security of principal and earns an adequate return is the answer. In other words, our Over a Third of & Century Withaut & Less of the liby May be from $250 6% FIRST MORTGAGES are a profitable investment, assured eral return continuously throughout the life of the mortgage, ‘purchased in amounts up. B B Ssaliti O National 2100 925 15th St. N.W.