Evening Star Newspaper, September 15, 1931, Page 13

FINANCIAL. A=ge— GERMAN TRADE BALANCE IS REPORTED ACTIVE By the Associated Press. BERLIN, September 15 —Germany's August trade balance continued nctive, returns published today showed. Imports were $18,575,000 and exports $194,125,000, leaving » balance of $80, - 550,000. Adding reparations deliveries in kind of $6,525,000, the balance would be_$87,075,000. Imports were $27,050,000 lower than in July and exports were lower by $3, 975,000, not counting reparations. THE EVENING STAR., WASHINGTON, SEPTEMBER 15, D. C., TUESDAY, [ \ PUBLIC HAS DISCARDED YIELD STGEK PRlBES S"LK,. ON STOCKS AS BUYING FACTOR TOLOWER LEVELS Recene Decline in Marker Hias Lifted Many Issues to High Income Rcturn, Market Depressed Further, i p With New Lows in Util- But Purchasmg Is Small. ities and Rails. BY CHARLES F. SPEARE. 15 per cent. Now, with call loans and Special Dispatch to The Star, flhme loans 11 t:l 2 per cent, many of —1In | these same stocks are yielding from 4 NEW YORK, September 15—In| 56 and 7 per cent; some even as kigh | Special Dispatch to The Star. other periods of deprestion 1t 1as been 8 and 9 per cent. In this group are | NEW YORK. September 15.—Omis- | possible to approximate the level at issues of companles that hnvc_bcc:ubo:gs ‘fe‘::m'}' 4',30&?_058% gu;}:{n::: sion of the dividend by Western Elec- | which the public would begin to inter- | ?‘l;letw maintain their reserves during | maturing in 1951, were iehascy Ty tric, practically all of the stock of which | est itself in securities on the basis of ' 1€ tWO years of shrinking gross earn- | 2 Dome Mines (1) 14 is owned by American Telephone & | the yleld produced by a stock or on a ings and which could pay present divi- | tic, ifm of Stein Bros. & Boyce. in- lends estment bankers, Domn Stores (1.20). x 3 29 iTeltgraph. together with renewed and | representative group of 50 or more is- dends if they felt that to ge ers. and the Mercantile Doug Alreraft{i1%) 1 "|acute weakness in the railway shares, |sues. Under certain conditions a yield Where there s & demand for these i e s AT I s < arre! ns. which bid 105.0577. Diipont do Xem (41 445 e Elecrc” Vas. announeed -chorts | S1ods ey approsimaied thase of the | pencht fom ncome digher (han might | (s = bmmh: :-et:kgeff“ff' the rails was n| The dxmcullt'::et:::yytr‘:;remtmz the ‘ Socks 3’}11:}: eh-?lemx]i‘:d i‘fi‘é‘?ufi‘é?‘c”éi’h I mdusitaln ‘Tostend new Jows 107 {ockcR of ncorne i pveronrd, For, | 100, Lines earmings, There are mar- | ‘'FINANCIAL, ="y 1931. F ¥R DVIDEND PAYMENT || NEW YORK_STOCK EXCHANGE MAINTAINED HERE Many Local Institutions Con- tinue to Dishurse Usual Quarterly Sums. BY EDWARD C. STONE. Tocal dividends are coming fast these days, all recent disbursements having been voted at the usual rate. ctors of the Capital Traction | ted the regular quarterly e e Am Beet Sugar pf... 1 to stockholders of Tecord Sep-| 33" a5, Am Brake Shoet2 40, e 1 3 Am Brake Sh pf (7). Am Can Co (t5)..... Am Can Co of (T). Am Car & Fdry (1).. Am Car & Fdy pf (7) 110; Am Chain Am Chain pf (7). Am Chicle (13).. Am Colortype. Am Comel Alcohol. ... Am Encaustic Tiling Am European Secur. Am & For Power. ... Am & For Pwrpf(6). Am & For Pwr pf(7). Bales— Net. Add 00. High. Low. Close. Chge. 3% 81 — 1 1931~ Stock and High. Low. Dividend Rate. & 2 Crown Zellerback. 2 30% Crucible Steel. . i % Cuba Cane Products. Cuba Co. 4 Cuban-Am Sugar 16 Cuban-Am Sugar p! % Cuban Domn Sugar.. 35% Cudahy Packing (4). 6214 Curtis Publish (4)... 215 Curtiss Wright . 3 Curtis Wright (A) 100 Cushmans pf (7) 7y Davison Chemical. .. 96 Delaware & Hud (9). 2% 3215 Del Lack & Wn (4).. 16 11% Denver & RG W nf.. 1 1408 Detroit Edison (8) 4 Diamond Match (1).. 49 Stocks sold in 100-share lotx except those desigmated by letter 1931 Stock and Bales- Ne High. Low. _ Dividend Rate. Add 00.High. Low. Close. Chi 14% 315 Abitibi Pwr& Paper, 4 4 % 52 11% Abitibl Pwr&Pappf. 4 1214 12 100 Abram Straus pf (7). 100s 105 105 10% Adams Express (1).x 75 11% i 10% 2215 Adams Millis (2).... 6 3% 18 Addressograph (1).. 6 134 70% Air Reduction(t4%), 16 74 7 Alaska Juneau (40c). 184 18% Albany Wrap Paper. 1 63 Allegany Corp... 19 4w Alleg Cppesso ww.. 4 11% Alleg Cppf w S40 w. 5 10t Allegheny Stl (1.20), 308 27% Allied Ch&Dye (n). 120 993 Allis Chalmers (2).. 15 191 Alpha Port Cemt (1) 1 1% Amerada Corp (2)... 18 16% Am Agri Chem(Del), 9 11y Am Bank Note (13).. Am Beet Sugar. .. 3 g 487y 100 5% Riy + %) 112 10 43 5 108 18 BY GEORGE T. HUGH BOND ISSUE SOLD. BALTIMORE, September 15 (Special) 1008 s 565 + % 107 71 4 -2 % C2, 224 118 —474| 186% 118 —1%| 135 128% — 14| 21% 9% Eaton Axle (1.60). — 15| 69 1a Eftington-Schild pf 740 ec Auto Lite (4) + o) 4l ectric Boat ~1%) 9% ec&Musical Instru Y ec Pwr & Lt (1 925 Flec Pwr & Lt pf 44% Elec Storage Bat (4). %, Elk Horn Coal pf.... Endicott-Johnson (3) 105 101 directors of the Riggs National at a meeting late yesterday de- the regular semi-annual divi- per cent, payable October | parcholders of record Septem- | National Organization —desires to sublease its spacions quarters in mod- ern, centrally located office building. Greatly reduced 2 :1l-American National Bank ). has voted the regular dividend of 50 cents a share, October 1 to stock of record 18 n Trust Co. has declared terly dividend of 2 per | Stocks, however, 1t is based on the com- | ong bidder was the Cumberland Sior. Duplan Silkc pf (8). 90s strength due to short covering. { he held off until average returns Were | come, rather than on the immediate | 3 o S e after noon and American Telephone & | 5 0 Fastman Kodak (18) 95 e o | past years. | American Telephone would cover its {ull | this measurement might be accepted as | has also ceased to talk in. terme ot enue, steadled the price after it had | Between =25 and g0t Ci 25 5. | 247 | h /. They did n 4 evidence earlier in the day. They probable trend of common stocks 15 that |elation have since ol a8 Mteh 25 30 108 30 o October 15 to sharehold- ord on September 30. s of the United States Sav- have just voted the regular vidend of 71: per cent, September 30. s of the Federal-American have declared the usual Guarterly dend of 30 cents a share on com- dividend of $1.50 | red, ble Octo- is listed on th merson’s | A, and which 50 | been voted. The o 2 has been declared the B stock, both payable October 1. | Directors of the Baltimore & Ohio road have postponed the dividend g scheduled for tomorrow to Wed- September 30. The amount of stock held here makes this mecting of very wide interest locally. 21 Commodity Price Advances. The wholesale price index of the Na- zer Association, as com- week ended September 12, 7.6. compared with 67.3 for This is a gain of | fractional points during the week a loss of the same amount the week ended Sep-| eneral index number 7, while a year ago puted for t stands r 5. ‘T onth ago was 6 was 83.3. ng the week prices for 21 com- iities advanced, while the prices for commodities declined. Important s that advanced during the week were lard. butter, pork, tatoes, wheat at Minneapolis v hogs, lead, silver, heavy melt- I coffee and rubber. Listed the commodities that declined cotton, silk, cottonseed oil, corn, gt liogs. pig iron. copper W ; 5. hides, hemp, is and prunes. Teday's Trading on Exchange. iing on the Washington Stock Ex- | ¢ today wes unusually quiet. The| sel 51,000 Capital Traction . Another bond sale was 00 Potomac Electric Power Cc ted 55 at 105 an Security & Trust Co. stock to the extent of a single share | and 100 shares of Real Estate | & Quaranty preferred cd hands at 615, hington clearing house figures for $3,978,049.30. Heard in Financial District. nd G. Marx, auditor of the ational Benk, is in Philadelphia ttending a confcrence of auditors rollers who are planning the 1 for the coming mee! at At- This organization meets . is in session there. s appointed Wil- Miller an assistant vice president | with headquarters in Washington, from point he will continue to super- s of the company in the seorge Famnham will give the idress at the meeting of Wash- »n Chapter, A. I. B.. &t the meeting awarding of certificates at the rd Thursday evening. Several hun- tute members are espected to Poole, president of the Federal- can National Bank & Trust Co., d the meeting of the advisory of the Federal Reserve Board ar the White House Jast evening. Mr. Poole is the council member from the fifth Federal Reserve district s Grace M. Bromley, assistant se of the District Bankery Associa- is completing her annual vacation. John W. Pole, controller of currency, expects enactment at next congressional session of legislation to grant national banks additional branch baking priv- es within trace areas around cities merican Stores Co. reports sales for | four-week period ended August 29 318, against $10.477,495 in the | parable period. of 1930, or & de- | e of $954.177. Turnover of funds in the United tes Treasury today will approximate 0,000,000. This is one of the larg- otals for the September 15 date, al- though it is not so great as the turn- over on March 15 in the current year. On June 15, Treasury transactions totaled about $2,000.000,000. Washington Produce R00; 107 66 60 Am & For Pwr 2d pf. Am Hide & Leather., Am Ylome Prod 4.20.. AmIceCo (3)....... Am International. .., Am Locomotive (1).. Am Lo'motive pt (7) Am Mch & Fdy 1.40.. Am Mach & Metals. Am Metal Co Am Natural Gas pf. Am News (1313) Am Pwr & Lt (1) Am Pwr & Lt pf AmP&LIpLA § « Am Radiator (60c).. Am Republies. Am Rolling Mil Am Safety Razor (5) ‘Am Ship & Com Am Shipbullding (5) elt Ret (2)... Am Sm&R 2d pL(6) .. ‘Am Sm & Ret pt (7).~ 2 Am Solv & Chemical. Am Solv & Chem pf.. Am Steel Found (1).x Am Stecl Fdry pf(7) x Am Stores (1215)...x Am Sugar Ref (5). Am Sugar Ref pf ( Am Sumatra Tob. ... ' Am Tel & Telex (9).. Am Tolacco (16) Am Tobacco B (+ Am Tobacco pf (6). . Am Water Wks (3).. m Wat Wks cfs(3). Am Wat W 15t pt(6) m Woolen Co...... Am Woolen Co Df... Am Zinc & Lead..... Anaconda Cop (1%3) Anchor Cap (2.40)... Andes Copper. .. ..o Armour of Il (A) ..« Armour of Il (B)... Armour of 1l pf. ..., Arnold Constable. . .. Art Metal (20¢)..... Associated Apparel.. Asso Dry G Atch To&S Ati Coast Line (7)... Atlantic Refining (1) las Powder (4). .. Atlag Powder pf (6). Atlas Stores (1)..... Auburn Auto (f4). AsitoRaes Autosales pt. - viation Corp (Del) s Baldwin Locomotive Balto & Ohio (3). . Balto & Ohio pf (4)., Bamberger pf (62). Bang & Aroos (3'3) . Barker Bros pf (612)x Barnsdall Corp'n. ... 4 Beatrice Cream (4). x Belg Nat Ry pf(481)x Bendix Aviation (1). Best & Co (2) Ee Bethlehem Si . Rethlehem Stl pf (7) Bohn Alumn (11%).. x Bon Ami (A) ( Borden Co (k3) Borg Warner (1) Briggs Mfg (11% Brockway Mot Trk Eklyn-Man Tran (4), BkIvn-Man Tr pf (6) BkIyn&Queens pf(5) Bklyn Union Gas (5) Brown Shoe (3) Brunsw- : Bruns Term & Rw Bueyru 50 1014 41 28% y P Budd (EG) Mfg. Budd Wheel (1)..... Bulova Watch (80¢). Bush Terminal(213). “Bush Term deb (7) Bush Terminal pf( 1tte Copper & Zine. M) C 1if Packing (2) Callahan Zinc & Ld “alumet & Arizona ‘alumet & Hecla. . ‘amp W&C ‘anada Dry G A (3). ‘anadian Pacific 1% . ‘annon Mills (1.60). “apital Admin (A).. *ar Clin & O sta (3) . ‘ase (J 1) Co. Case (J 1) pf (7). Caterplllar Trac(3). Celotex Co.. . Celotex vtc ctfs Celotex pf..... Cent Aguirre (1 Cent RRof N I (8) Century Rib Mills Cerro de Pasco (1).. es & Ohio )eve Chesapeake Corp(3). Chi Great Western. . 10 11 23 6 1 18 2 3 60= 10s 1 38 3 11 13 3 10s 37 1 1 25 2 22 108 2 8 T 1 1013 57 3 18 1 1 4 39 13 3. 30s 1 81 I 30s 42 23 63 4 208 2 208 63 2 108 612 108 21 = s s © - % - 19% 641, 174 3215 88% 431 6% 28 104% Gen Ry Signal pf (6) 28 60 211 28 Eng Pub Sve (1.60). . Fairbanks M pf (7). shion Park Asso. . d Lt & Trac pf (6) t Truck(40c), Fid Ph Fire In(2.60). Firestone T & R (1) Kirestone T&R pf(6) atl Strs (213) 7608 Follonshee Bros. . 2 Foster Wheeler (1).. 31 Foundation Co. . . 1 20 Fourth tInv m55e 4 108, Fox Film (A) (2%).. 215 20% Freeport-Tex (3)... 34 213 Gabriel Co (A). rdner Motor. Gen Am Investar: . n Am Tank Car(4) Gen Asphalt (2).. Gen Baking (2) Gen Bronze. . Gen Cigar (4) 5 Flectric (1.60).. ec spec (60c). n Food Corp (3) .. en Gas&El A(ellc) n Mills (3). n Motors (3 Motors pf « . on Outdoor Adv.... 2 n Outdoor Adv(A) 2 Gen Public'Service.. 10 Gen Ry Signal (5)... 4 4% 60s 1% Gen Realtv & Util 7 2413 Gen R& Ut pf (e6) 29 Gen Refract @) 174 Gen Theatre Equip. . 14 llette Saf Razo; Gillette Saf It pf Gimbel Bros Glidden « Glidden Co Gobel (Adolf) PLCT). 1108 Gold Dust pf Goodrich (B F Goodrich (B Goodyear T & R « Goodyear 1st f (7). Gotham Silk Hoslery Graham-Paige. .. Granby Con Min (1). Graud Sl Strs (h1)., Grand [Tnfon........ Grand Union pf (3).. Granite City Stecl(2) Grant (W T) (1). Great Northn pf(4). Great Northn Ore(2) Great Western S Grigsby Grunow.. 11f Mobile& Nor p Hackensack W (113) Hacken Wat pf A 1% Hahn Dept Sto; 9 Hahn Dpt St pl(61) 2 Hall (WF) (1.20) Hanna pf (7). Hartman Corp (B) Hawalian Pineap ( Hayes Body Corp. .. E Hercules Pow pf (7) 200 Hershey Choc (5) 16 Hershey Choc pt (t 16 Holland Furn (12%)x 2 4 Hollander Sons..... 14 Homestake Min (18). 1 Houdaille Hershe; 11 Houston Oil. Houston Oil (new) Howe Sound (2).... Hudson & Man (373) Hudson Man pf 11 Hudson Motor (1)... 5% Hupp Moto! Illinots Central (4) Tlinois Cent pf (6) 1% Indian Motor Cycie 2 Indian Refining . Indust Ravon (4) Ingersoll Rand (4 Inspiration Copper. . Insuranshares Del A Interboro Rap Trans Interbo Rapid T cod. Intercontl Rubber. Interlake Iron In. Agriculture. Int Bus Machine(n6) 4 Int Carriers,Ltd 50c. Int Cergent (4). Int Combustion. ... Int Harvester (2%4) 4 Int Harvester pf (7). Int Hydro E1 A (e2). Int Paper & Pwr C. Int Match pf (4).... Int Nick of Can(40c). Int Paper & Pwr (A) Int Paper & Pwr pf.. Int Printing Ink. ... the bear market were registered by | long list of seasoned dlvidend payers, including New York Central and Atch- ison. The farmer sold at the lowest on | record for the present shares and the latter, at times breaking a point be- tween sales, J(?ld at the lowest since 1925, Outside the stock market the com- modily news included reports of a sale of copper at 7'; cents a pound, the lowest price in th story of the trade, and a rally in wheat to which consid- erable significance was attached because it came in the face of the we in securities. Reports of the mecting of the Federal Reserve Advisory Council at Washington were scanned with in- terest in the hope that some encour- aging word would be forthcoming !mm‘ that body as to business and finance, | The low prices for the day were made | in the last hour with, as usual, a feeble | rally just before the end. The utili- ties and the amusement shares were pressed for sale, the former on pro- fessed doubts about dividend rates, and | the latter apparently because of forced | | liquidation. either institutional or indi- | vidual e best support was accorded | to United State Steel, American Can | | and General Motors. It was stated in regard to General Motors that there was no possibility of a reduction in the dividend (his while American Can was expected to p: the regular rate plus t gular ext The improvement, the carly trading the widespread be | was oversold and entitled of 1 The large num | lcaning at a premium showed of the short intere In addition, the Street hecard vario reports about an impending ment from Washington,” t which was not stated. but w h | when issued” was assumed to be ing helpful. There was o co i from Washington of any posed announcement. but would not down. Then that one of the large Stoc houses was debating the broadcasting advice to buy this _level This could not be confirmed either as. however, significant stage of the decline the r bullish. instead of bearish | generally are nowadays. | DECREASE IN LOANS \BY U. S. BANKS SHOWN Federal Reserve Statement for Sep- tember 9 Reveals Drop of $47,- 000,000 in Credit Extended. was nable b the marke some sort of rtocks e extent | B By the A | The Federal ted Press Reserve Board's condi- ion statement of weekly reporting | member banks in leading cities on { September 9 showed decreases for the of $47,000.000 in loans and in- vestments, $68.000,000 in reserve bal- | ances with Federal Reserve banks, $4 000,000 in net demand deposits. $53.- 1000.600 in time deposits and $42,000,000 | |in Government deposits and an in- | crease of $6,000,000 in berrowings from . | Federal Reserve banks TLoans on securities declined $42,000.- { 000 at reporting banks in the New York district_‘and _$77.000.000 st all banks “All other” loans increased $12,000,000 | at all institutions Holdings of United States Govern- | ment securities dropped $8.000.000 at | all reporting banks. while holdings of other securities increased $26,000,000 at all reporting banks. Borrowings of reporting members from | Federal Reserve institutions aggregated 1$113.000,000 on September 9. the prin- cipal change for the week being a gain |of $6,000,000 at the Federal Reserve Bank of San Francisco. EARNINGS REPORTED. NEW YORK, September 15 (#.—The Consolidated Railroads of Cuba and subsidiaries today rcported met h‘mumc} after taxes, interest and other charges, but before profit and loss. items, of $1 782,122, for the fiscal year ended June | 30, 1931. In the previous year when no con- solidated statement was issued, Con- | solidated Railroads reported net income excluding equity in undistributed earn- | ings of subsidiaries of $2,754.971. This | jent dividends were to be maintained merly the publication of a list of stocks yielding between 8 and 10 per cent| would bring considerable response, and | the the broker who told his client about |jevel where purchases may be made | ! { with an assurance of sul | eral times greater than in 1929 might | ital appreciation in the three years. such and such an jssue at a return sev- have been sure of obtaining a buying order. The numerous dividend reduc- tions that have occurred since the high average vield level was reached In June has affected this average matcrially, in spite of the fact that many of the stocks included in the list have gone under their prices of three months ago. | Indivigual issues. however, are still| quoted on a basis that wonld produce | high earnings for their holders if pres- | indefinitely. - The lack of response to the current high income return represents the ab- sence of faith by the average investor in even the existing low dividend basis to which many prominent socks have de- clined. 1In its mood today the public sees ahead many more dividend cuts and omissions by the raflroads and by | the industrials, and before long the beginning of changes In the dividend rates of public utility holding company common stocks. So it is waiting for | this adjustment to take place, while | those who own stocks with an uncer- tain dividend promise have been selling them not only to preserve their capital, but to limit the risk of a further de- cline in their incomes The highest returns of any one prom- inent group is on the railroads. Five | carrier stocks, namely, Baltimore & | Ohio. Northern Pacific, Chicago & Northwestern, Missouri-Kansas-Texas preferred and Prisco preferred, are quoted between yields of 14.25 per cent and 30 per cent. The average return on the five stocks is about 21 per cent. | At the same time the average market | price of this group is 25!, or, in other words, the current yield is 80 per cent of the current average price. Within the next few months the dividend status of each one of these stocks is ely to be changed. So the perplex ing question i1 the mind of the in- vestor who sces them quoted at pri ialed for many years is whet ) quotations which. ir some inctances, happen to be lower than when these same stocks were on & non- | dividend basis. “Blue Chips.” In 1929, when numerous “blue chip” industrials -and public utilities were selling on & 1 0 2 per cent basis, in- vestors who had been through other bull movements refused to buy them because they were so muci out of bar- mony with the monev markct, which | was then quoting rates of from 10 to LUMBER ORDERS EXCEED OUTPUT IN SEPT. 5 WEEK Associated Press. umber orders during the week ended September 5 were approximately 9 per cent in excess of production. Reports from 851 leading mills to the National Lumber Manufacturers’ Asso- ciation reveal the cut for the period as 189.743,000 feet. Shipments were 15 per cent above this figure. The performance marked the fourth successive week in which the ratio of new business over production has been favorable. COAL OUTPUT GAINS. e Associated Press. | _ Bituminous coal production is gain- ing slowly. During the week ended September 5 the increase was 1.4 per cent, as compared with the previous week. on the basis of calculations by the Mines Bureau. Total production for comparable periods follows: | o eck ended September 5, 7,600,000 ons Previous week, 7.495.000 tons. I Same week last year, 8,088,000 tons. | By U. S. TREASURY BALANCE. ‘The United States Treasury balance announced today as of close of business September 12 was $58,316,612.31. Cus- toms receipts for the month to date penditures were $6,775,874.29. Money to Loan Secured by first deed of trust on real i estate, Prevailing Interest and comm! prices reach a level where the genersl| range is from 10 to 12 times earnings rental, Address Box 111.D Star Office e———————————— mdrket will have been brought to a | tantial cap- | lext two or! (Copyright. 1931) *rillllIMI"HIIHIIII|Ifl|I|_IIIIllllmlmlllllllll!llllIlIII1IDI|IIIIIIHIHIIIIllIIIIIlIIllmllllllllmll"IIllII|IIIIIIIIIIIIIII|IIIII ¥ Money Available for Mortgage Loans E can give you most efficient service in connec- tion with a FIRST TRUST LOAN on apart- ment house, offiee building, residential and busi- ness properties, located locally or in nearby Maryland and Virgina, The necessary preliminaries will be conducted promptly—and when approved the funds are in hand. Loans made for 3, 5 or 10 year periods, 1 and at the low rate of.............. /2% RANDALL H.HAGNER & COMPANY MORTGAGE: LoAN CORRESPONDENT AewZork.. (/% Inniurarce '/lhr,dzl/y 1321 Connecticut Ave. Decatur 3600 *lIMIllIIIIllIlIlIIIlIIIIIHIlIIIIlll||Il|Ill||l|"lllllll|llIlllilllIIIllI!Ililll"IHIIIIQIIl|Ill]llIIllIIIIIlIlIIIIIlihmlifllllllllllll* F. B. KEECH & COMPANY Members of Tk Stock Exchange ar 3 Chicago Stock Exchan Liverpool Cotton Asgoctatior 5 York Cotton Exchanze w_Orleans Cotton Exchan: York Produce Exchange Winnipeg Grain Exchange e, Inc. Rubber Exchange of N. Y., Inc. New York Hide Exchange, Inc. National Metal Exchange, Inc, ton Exchange (Assoc. Memibers BONDS COMMODITIES DIRECT PRIVATE WIRES Chamber. Bremen Co STOCKS We are equipped to handle promptly orders on the leading exchanges of the world. H CORNER 17TH ST., N. W,, WASHINGTON NATIONAL G245 Chicago Brocklyn New York co Detroit PROPERTY MANAGEMENT Apartment House MANAGEMENT IT takes experienced judgment to decide what and when re- pairs are necessary in the upkeep of apartment house properties. That’s one phase of the man- agement service we render which makes it so profitable to owners. But there are many other features of advantage. Let us point them eTTEremT———- OUt 10 you. B. F. SAUL CO: 925 15th St. N.W. Nat’l 2100 MORTGAGE LOANS Chi Great Westn pf 33; Chi Mil StP & Pac | Chi Mil StP & Pac pf. 28a30; current re-| 4 Chi & Northwest (4). | 15 6'4 Chi Pneu Tool..... Chi Pneu Tool pf. Chicago R 1&Pacli Childs Company. . Chile Copper (113). “hrysler Corp (1) ity Jce&Fuel (3.60) Tce&Kuel pf 615 equity amounted to $600,810. The consolidated statement of the Cuba company and subsidiaries and | affillated concerns for the year ended | June 30 shows & net loss of $1,926,758 Do’ You Need ‘Moncss after all dedyctions except profit and MR. FRIEDMAN oss items. compares with a net| 416 5ih St. N.W.. Room 70 ‘. loss of $690,088 in the preceding flscal | A ———— year. ‘The company, incorporated in| New Jersey, has wide interests in Cuba, including reilroads, sugar mills_and | cane growing acreage. It owns all the common stock of the Consolidated Railroads of Cuba. TREASURY CERTIFICATES. | (Reported by J. & W. Scligman & Coj | offer. 2814 420 W 458y 20t 18% Int Salt (3). Int Shoe (3) Int Stlver. Int Tel & Te 1113 Int Dept Stores (2).. 20 _Island Creek Coal (4 6715 361y Jewel Tea (4). 80% 40% Johns-Manvillé (3) 12315 1112 Jones & Laugh pf(7) 18 12 K'mann Dept Strs(1) 24% 10y Kayser (J) & Co (1). 31y 1% Kelly-Spring Tire. 9y Kelly-Spr T 8% pf.. ey-Hayes Wheel 81x Kelvinator Corp. . 20 Kendall Co pf (6) 14% Kennecott Copper(1) 23% Kinney (G R) Co pf.. 29% 25 Kresge (SS) (1.60) 55 40 Kress (SH) Co (j1) 27% 11% Kreuger & Toll 1.61). 3515 18 Kroger Grocery (1) 87 56 Lambert Co 4% 21 Lee Rubber & 18% 9% Leh Port Cement 8% 374 Lehigh Valley Coal 61 241 Lehigh Valley RR. . 69% 45% Lehman Corp (3).. 847, 22% Lehn & Fink (3).... 20% 10 Libbey Owens Glass. 91 597 Liggett & Myers(13) 91% 60% Ligg & Mvers B (15) 146 137’3 Ligg & Myers pf (7) 2615 . 19% Lily Tulip Cup(13). 34% 181 Lima Locomot (m2). 33 22 LinkBelt (2)....... 56% 20t Liquid Carbonie (3).. 631 364 Loew's Inc (3) 6% 2% Loft Inc. 547 40% Loose-Wiles 12.90) 125 118 Loose-Wiles 1st (7) 21% 11% Lorrillard (P) Co. 4% 2 LouisianaOll....... 35% 25 - Lou Gas&ELA (1%). 111 56 Louis&Nashville(5)., 19 8t Ludlum Steel...... w22 8tk Ludium S18e oo 23 MecCall Corp (2'2) . 76 McCrory-St 16 McGraw Hill (1).... 197 Melntyre Pore M(1). 16 583 McKeesport TP (4).x 38 Tix MckKesson & Rob(1). 19 3%, McLellan Stores 213 MackTrucks (2) 66% Macy (RH)& Co(n! Joseph I. Weller &% " LOANS Is Your 1st. 2nd or Srd Trust Due? . L. & tub, | L & Trast were $13,653,801.10. Total ordinary zx-1 | Butter ] One-pound prints, e wSw~aeEhe afaemn Hennery, 18220 | —Hennery, 28; current receipts, | 3 2 A Banking’ Connection With any American Security Office affords a valuable contact with all de- partments of this strong bank and with alive—Spring__ broilers, d_over, 26a27; 2 to 2! 112 to 2 pounds, 21a a20: hens. large, 23a24; Yoosters, 12a13. | ers, 3 pounds | '. pouncs, 29a ; Leghor 7a28; small, 2 1g Island ducks, 21a Money on Hand to Loan on First Deed of Trust - 69 Interest Reasonable Commission 'and Prompt Replies to Applicstions JAMES F. SHEA 643 Indiana Ave. N.W. lark Equipment(1). -Cola (17%). 1-P 10 69 1508 80 108 20 2 150 34 ollins & A1k pt (7). olonial Beacon 0lo Fuel & Iron. 0l Gas&Elec (2) ‘olumb Graph (56¢). Columb Carbon (5) 25 Comm Credit (1.60) 9 Comcl Credit A (3). 1 Comcl Cred 18t(6%). 50s Comcl Cred pf B (2). 60s mcl‘Inv Trust (2). 12 Comel Iny Tr pf 615. 808 Comm Inv cvpf(e6). 7 Comel Solvents (1).. 84 Comwlth&Sou (40c). 262 Comwlith&Sou pf (6) * Congolm-Nairn (1).. 32 Congress Cigar (1) 5 2515 Consol Cigars (5)... 4 54 Consol Cgrpr pf 6% . 180s 3% Consol Film........ 2 102 Consol Film pf (2).. 2 82!y Consol Gas N Y (4).. 246 101's Consol Gas NY pf(6) 14 1% % Consol Textlle. . 1 813 2% Container Corp (A).. 3 1 Container Corp (B).. 30 9% Contl Baking (A) executives who are capable of inter- preting its broad policies in terms of your individual needs. Rate—Maturity. 17as Dec. 15, 1931 1%s Dec. 15, 1t s Mar. 3125 Dec. 1%s Sept. Bid. 5 100 9-32 9: 2 190 9.32 * 100 22-32 © 100 24-32 % 100 5-32 prime, 16al7;_choice, good, 14a15; medium, 13a13'3: cow. 9a10; veal, top, 16; medium, 1314 lamb, top. 19a20: medium, 14a16; pork loins. 8 to 10 pounds. 23a24; 8 to 12 pounds. 2 12 to 14 pounds. 15al16; fresh ham smoked hams, 21: strip . 22a93; lard, bulk, 9'7; packages, | 5.6025.90: pigs, 6. 15a16 ‘. « « o o & e & o & < G 20 15, 1932 More than 170,000 persons employed in the Belgian coal FaFE & F stock—Hogs, heavy, @70 light, 6.50: Every Banking and Trust Service 607 143 19% 181, e % 191, 27, 18% + s 24% 24% — % 21 21 .+ % 45'% 457 — % 3% 3% —~ I 46% 46% + % 120% 120% + % 14% 14% = % 25 25 27% 27% 55 55 9 9 2613 26'; - ROL, RO, 16 16 22 22 b58% 593 - 81y Bl — & 4 5 +1% 22% , 22% —1% KRS fum s, Colorado flats, 1.25a1.35; honey 1.75a2.00; Perstan melons, 2.00a 5.50; lemons, 4.00a 5, , 1.75; apples, bushel baskets, 50a1.00; box stock, 2.25a2.5 pears, 3.00; Seckles, per bushel, 1.00a 2.00; 18-pound baskets, 35a50; peaches, 50a1.00; grapes, Concords, crates, 1.0 bushel baskets, 75a1.00; Tokays, 2.25a 250; Thompson, seedless, 2.00; pine apples, 4.0024.50; prunes, 1.00; figs, 5.0 damsons, two-peck baskets, 1.00al.2: grapefruit, 5:00a550; bananas, 175a| ‘33 11, Contl Baking (B).. 250; persimmons, 100; cranberries, 447, Contl Baking pf (8)+ 3. 2 40% Contl Can (2%)..... Vegetables-—Potatoes, per barrel, 1.75a 635 Cont Diamond Fibre. 00: sweet, per bushel. 75a1.00: ton 311, Cont Insur 1o0s. 50275; string beans. 75a1.00; limas, 115 Contl Motors 450: cabbage, 50a75: Kale, 50; spinach, 5 Contl0il (Del), 1.25; corn, 50a75: cucumbers, 1.00; cel- 21, Contl Shares. ery,’ 3.7524.00; lettuce, Iceberg, 3.25a 533 Corn Products (4 4.00; New York, 1.25a1.50: carrots, per | 15214 1467 Corn Prod pf (7). 300" bunches, 3.00; beels, ‘per 100) 18 4% CotyInc....... Wunches, 3:007 eggplaxt, 75; Okra. two-' ‘3415 25!; Cream of Wheat peck baskets, 1.5082.00 W'Ifl; 381 184 Crown Cork (2.40) ; mushrooms;: o L6844 63y Crown'WiRaabodes). 08 @ . MALL amount of Capital Stock is offered in a Company dealing in Wholesale Food Commodities. Com- pany established nearly 40 years. Divi- dend record’ good. Confidential infor- mation given upon request. 73 15 1874 109% 107 TRUST COMPAN 2y AMERICAN SECTRITY : 15th and Penna. Ave. Branches: Central— 7th and Mass. Ave. N.W. Southwest— 7th and E Streets S.W. Capital—$3,400,000 Northeast— 8th and H Streets N. Northwest— 1140 15th Street N.W. Surplus—$3,400,000 208 ™ ; Address Box 171-D, Star.Office 5% 14 5% 4% 3 26% 26%° 3 204 204 - 15 i 103'% 17 104 it