Evening Star Newspaper, September 15, 1931, Page 14

A—14 BUSINESS LEADERS SEE TRADE GAINS, 1 Boston Gathering Told Thatg Depression Has About Reached Low Mark. FHR By the Associated Press. BOSTON. September 15—D. F. Kelly, presiden: of the National Retail Dry Goods Association and the Chi-: cago Fair, yesterday said that the high | prices of former days would not return for a number of years at least and that idealism in business would be the big factor in recovery. H He spoke at the opening of the Bos- ( ton Conference on Retail Distribution. | Other national business leaders speaking at the conference were of the | opinion that _the depression had about Teached its low mark and that the graph of trade would soon turn up- ward. ! Kolly said that as a consequence of | his predicted delay in the return of ! prosperity, profits would be increasing- 1y difficult to attain. i Plea for Idealism. | “The factor that will do most to; build up any business is the reputation of management—such reputations as were borne by the great merchants of the past, who, if they could speak from this forum, would, I am sure, indorse more idealism in business. “It has long been the bellef of many retailers that every item they offer for sale should, if possible, be made in ac- cordance with standards and specifica- tions. This method is now being em- ployed very successfully by certain mer- chants. “Standards should be prepared by manufacturers and retailers and ap- proved, if possible, by the Bureau of Standards at Washington, the Amer- ican Medical Association (or some oth- er responsible laboratory), the Better Fabric Testing Bureau, or others in- terested, with the purpose of supplying the public with quality merchandise that will be guaranteed by the re- tailer.” Kelly said that no one could question successfully the merits of an article made to standard specifications and sold under a guarantee that weuld carry the hall mark of a retailer responsible for the quality of every item sold. Paul T. Cherington, New York market specialist, told the gathering of more than 300 at the University Club to “give the young men in your business a chance these next few months.” He said that if every business in the coun- try were suddenly to put the control and responsibility of all their line oper- ations in the hands of competent men under 40, business would rise with start- ling suddenness and that if “all were under 35 our only trouble would be in keering it from running away.” Cherington said business recovery was nearer than most business men thcught and organizations should be alert to meet it. Talk on Fashions. Amos Parrish, fashion expert, gained the feminine interest when be sald: *“Fashions today make ladies more lady- ltke end lovelier than ever. Every woman wants to be in style, but she does not want to look like a freak. “The idea of Eugenie fashions can't help but last, but the impossible ver- sions of them that have been quickly made into fads can't possibly last.” He said that when Princess Eugenie went to Scotland she did not come back with Scottish kilts, but she did come back with a little Scottish hat because it was becoming to her. He said that this Fall pecple would get more for their money than they have been able to get for years. NEW SECURITIES NEW YORK, September 15 (#).—New securities offered today include: $10,000,000 Louisville & Nashville Railroad Co. 5s. priced to yield 5.25 per cent, by & syndicate headed by J. P. Morgan & Co. $5,800,000 City of Cleveland 4!4s, to yield 2.50 to 4 per cent, by a syndicate headed by Chase, Harris, Forbes Corp., National City Co. and Continental Il- linois Co. L INVESVTiMENT TRUSTS NEW YORK, September 15 (P).— Over-the-counter market: C Tr shrs D C Tr Shrs E. A A B B Am Am Am Am Am Hr & Con 6" Am Comp Tr Shrs . Am Founders 6 Am < pf Am Founders 1-70th com.. Am Founders cv pIf etfs. Am Founde th- com Am Ins Stocks Assoc Stand Oil Atl Sec pf ... Atl Sec war 11l Atl & Pac Int units. At & Pac com ww Atl & Pac pf war Bankers Nat Inv Bansicilla_Corp Basic _Industry British Type Inv'. Century Tr Shrs Chain & Gen Equi Chain & Gen Ea_6' Chain Store Invest Chain Store Inv Pf Chartered Invest Chartered inv pt Chelsea Exch A Chelsea Exch B_: Cumulative Tr Sh Corporate_Trust Crum & Foster Crum & Foster Crum & Foster Ins Crum & Fost In: Depos Bk 8hrs Depos Bk 8h N Depos Ins Shrs Diversified Tr A . ified Tr B ified Tr C ersified Tr D E Tnvest Eaquity Invest pf . Equity Trust Shrs . First Am Corp . Pixed Trust Sh Al Fixed Trust Sh B Fund Tr Shrs A. Fund Tr_Shrs B. General Equity A .l Granger Trade, Gude Winmill T Incorp Investors . Incorp Invest Eaquit Independ Tr Shrs Int Sec Corp Am Al Int Sec Corp Int Sec Am 6% Int Sec Am 61 Inv Tr N ¥ Coll Invest Trustee Sh ...: . Jackson & Curt Sec pf. Leaders of Indust A.... Leaders of Indust B. Leaders of Indust C Mass Invest Tr . Natl Indust Shrs . Natl Tr Shrs .. N Y Bk Tr 8hrs . Nor Am Tr Share Northern Secur Oil Shares units Oid Col Inv Tr . Old Col Tr Assoc .. Petrol Trad Public Serv Tr Repres Tr Shrs Second Int Sec B. .. Sec Int Sec 6% 1st pf.. Secur Corp Gen 36 pf Selected Income 8h . Selected Manage Trust Shawmut_Bank ... Spencer Trask _Fund Stand Am Tr Shrs . Stand Collat Trust State Street Invest Super of Am Tr Super of Am Tr B. Super of Am Tr D. Trust Shrs of Am . ‘Trustee Stand Inv C. Truxln%und Inv D. Trustee“St Ol A... Trustee St Ofl Shrs B. ‘Trusteed N Y C Bank, ‘Trusteed Am Bk Sh Two Year Trust Sh United Fixed Shrs . United Founders 1-70th com.. U 8 & Brit Int Ltd U 8 & Brit Int Ltd § 8 & Brit Int 33 SRR T enman PO 8 o1 83 ! Tial 4t SIS FEES 53 T3 Lt & 28! Elec 8 | low-priced and FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, TUESDAY. SEPTEMBER 15, 193L.° NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. (Continued From Page 13.) Stock and Dividend Rate. 27% 10% Mayma Copper (1) 4% 118 Mailison & Co...u.eu. 20 10% Mallison & Co pf. 78 8 Mandell Brothers. 43 Manhat Elev gtd (7). 17 ManhatElev mod gtd 171 Marine Midld (1.20). 167 Marlin-Rockwell (2) 2 Marmon Motor Car.. Marshall Fleld (2 ) Mathteson Alkill (2) Mathieson Alk pf(7) May Dept Strs (2% ) tag Co 1st pf ( Mel: 3 Met-Gold Plc pt 1.89. Miami Copper. ...... Mid Continent Petm. Midland Steel (3)... Minne & Hon Reg (3) inn Moline Pow. . .. 4 Minne-Moline P pf. Minn StP & SSM pf.. Mo Kan & Texas. .. . Mo Kan & Tex pf (7) Missouri Pacific. . ... 4 Missourl Pac pf (5). Monsanto Chem (1% Montgomery Ward. . Morris & Essex(3%) Mother Lode - Motor Meter G & El. Motor Wheel (1) Mullins Mfg.....on Mullins Mfg pf (7). 2108 Murray Corp . 53 Nash Motors (4). at Acme Co. . at Air Transport 314 Nat Bella Hess 45% Nat Biscuit (2.8 ~1931~ Sales— High. . Low. 271 ) 108 1 50s 49 82 1 2 6 17 508 9 20% 171 30s 2 at Dept Stores 5 Dept Strs 1st(4) at Dist Irod (2). .. 208 at Lead at Pwr & at Steel (2). at Supply Co. Nat Supply pf (). Nat Surety (2) at Tea (1) evada Copper (60¢) ewport Co (1). ewport Co (A) Newton Steel. .. Y Central (4 N Y Chicago & St L. Y Chi & SL pf. Y & Harlem (5) Y Investors... Y N H & Hart (4).. YNH&HDpL (D). Y Ont & Western... ¢ Railways pf ipbuilding . 119% 100 187 oranda Mines. . orf & Westn (112). orth Am Aviation. Nor Amer (b10% stk) North Amer pf (3).. Northern Pacific (5). orthwest Tele (3) .. orwalk Tire & Rub. Ohio Ofl. .., 4 Oliver Farm Equip.. Omnibus Corp. ..... Oppenhm Collins (3) Orpheum Cir pf (8). Otis Elevator (214). Otis Elev pf (6) .. 14 20s 1 21 4 5 3 108 19 T 31 (2 Pacific Lighting (3). Pacific Tel&Teleg (7) 4 Packard Motor (40¢) Pan-Am Pete B(40c) Panhandle Pro&Ref. : Paramt-P(m1.62%4p) rark & Tilford . Ppark Utah. .. Parmelee Transport. Pathe Exchange. ... Pathe Exchange (A). Patino Mines Peerless Motor Car. Penick & Ford (1) Penney (J C) (2.40).. Penn Dixie Cement. Penn Railroad (3) 2 Peoples D S pf (61 Peoples Gas(Chi) (8) Pere Marq pr pf (5). Petm Corp of Am (1) 4 Phelps Dodge (1). Phila Conew (6).... Phila&Reading C & I Philip Morris&Co(1) Phillips-Jones pf (7) Phillips Petroleum. . Pierce Petroleum. .. Pillsbury Flour (2) Pirelli (A) (m3.13).. Pitts Coal pt. 3 PittsS FLW & C Pitts Term Coal pf.. Pitts United Corp Pitts United pf (7 Poor & Co (B) Port Ric Am Tob(A). Postal Tel&Cable pf. Pratrie Oll & Gas. ... Prairie Pipe Line(3) Pressed Steel Car. ... Pressed Steel Car pf. Proct & Gamb (2.40). Pro & Refiner: . Public Sve NJ (3.40). Public Sve NJ pf (5) Public Sve NJ pf (6) Public Sve N J pf(7) Pullman Corp (4)... pure Ol Pure Oil p! Purity Bakeries dio Corp tadio Corp pf A 3%. tadio Corp (B) (5). Radio-Keith-Orph A. RR Sec IC stk C(4). Raybestos-Man 1.60. Reading Rwy (4)... Real Silk Hoslery. .. Reis (R) & Co 3st pf. Remington-Rand.... Reo Motor Car(40¢). Republic Steel. . Republic Steel pf. Reynolds Metls(13%) Reynolds Tob B (3). hfleld Oil. Rio Grande Oil 4 Rossia Insur ( Royal Dtch( afeway Stores (5).. eway Strs pt (6). Safeway Strs pf St Joseph Lead (1).. 9 StL-San Francisco. . 4 StL-San Fran pf(6) St Louis Soutkwn. .. avage Arms (1). chulte Retail Stores chulte Stores pt (8) eaboard Afr Line Seaboard Oil. . . » Sears Roebuck (233). d Natl Inv. 1 Natl Inv pf.. necn COpper. ..... Add 00. High. Low. Close. Chge. High. Net. 1% 11+ K 1% — % 12 +1% 315 —3% 1 1% 10% 1% 12 3 43 17% 12 6114 18 9 83 12 14 18 171 118, 941, 45% 10 24 87 1% T1% - 7| tons. g 3% stock. ~1031~ 13% £ 341 10:30 AM. . 1:30 P.M. b payable in stock. h Plus 2% in stock, in ‘stock. Stock and Low. Dividend Rats 4% Servel Inc. . 5% Sharon Steel Hoop 73 Sharp & Dohme. . 48% Sharp & Do pf (3%). 1 15% Shattuck(FG)(t1%) 8 12 Shell Tra(m1.73 1-5). 1208 415 Shell Union Ofl. Gy 251 Shell Union Oil pf. 214 Shubert Theaters. 10% Simmons Co. .. 5 Simms Petroleum. 614 Sinclair Consol Ofl. 77 Sinclair Oll pf (8). 3% Skelly Oil. 10 Skelly Oll pf ww. 11 Sloss Sheffield Steel. 20 Sloss-Sheff Steel pf.. 16% Socony-Vacuum 1.60. 7% South Port Rico Sug. 36 Southn Cal Ed (2). 62% Southn Pacific (6) . 1813 Southern Rwy (m! 14 18 Spalding (AG) (1) 1 55 Spang-Chalf pf (6)..x 108 5% Sparks Withing (1).. 13 6 Spicer Mfg o 4y 23 Spicer Mfg pf (3). 414 Spiegel-May-Stern 147 Stand Brands (1.20). 118 Stand Brands pf (7 21 Stand Comel Tobacce 531 Stand Gas&El (3%). 54% Stand Gas&El pf (4). 86 Stand Gas&El pf (6), 3114 Stand Oil Cal (h2%4). 997 Stand Oil Exp pf (5). 8% Stand Oil of Kans: 30% Stand Ol NJ (12) 10% Starrett(LS) (12 1% Sterling Secur (A). . 2815 Sterling Sec cv pf(3) 8 Stewart Warner..... 2214 Stone&Webster(m2). 13% Studebaker Co(1.20). 31 SunOil (q1). 94 Sun Oil pf (6) 21 Superheater (2 % Superior Oil Sales— 39 4 6 6% 6 % 48% 12 29 208 89 ¥ 63 45 16% Telautograph (1.40). 3% Tennessee Corp(50c) 18 Texas Corp (2) 2914 Tex Gulf Sulphur(3) 213 Tex Pacific Coal&OIl. Tl3 Tex Pacific Land Tr. 6 Thatcher Mfg Co. ... 31 Thatcher Mfg pf 3.60 17% The Fair (2.40) . 9314 The Fair pf 2% Thermold Co. . 513 Third Avenue .. 9% Thompson Prod 1.20. 214 Thompson Starrett. . 2415 Thomp-Star pt (3%) 4 Tide Water Asso Oil. 50 Tide Wat Oil pf (5).. 514 Timken-Detroit Ax 28% Timken Roller B(2). 1% Tobacco Products. .. 9 Tobacco Prod A t95¢ Transamerica (40c). & Transue & Will (1).. ‘ontl Corp...... Tri-Contl Corp pf(6) x 2813 Trico Products(2%). 3% Truax Traer Coal Co 10 Truscon Steel (60c) . 36 Under Ell Fisher (4). 43% Union Carb & (2.60) 14 Union Oil of Cal (2). 124% Union Pacific (10)... 47 79 Union Paclfic pf (4). 2 91 Un Tank Car (1.60).. 1 Unit Afrcraft....... 270 Unit Afrcraftpf (3). 6 Unit Biscuit (2)..... 6 % Unit Biscuit pt (7).. 108 Unit Carbon 31 Unit Cigar Stores. 24 Unit Corp (75¢) ... 420 Unit Corp pf (3).. 14 Unit Electric Coal... b & Unit Fruit (4). 12 Unit Gas&Im(1.20).. 185 9 230 13 USFrelght...... U S Gypsum (1.60). U S Hoffman. . S Indus Alcohol S Leather U S Leather (A).... U S Leath pr pf (7). U S Pipe & Fdry (2). 4 U S Pipe&Fy 1st 1.20 U S Realty & Imp(1) U S Rubber.... U S Rubber 1st pf... U S Smtg & Ref (1). i US Steel Corpn (4).. U S Steel pt (7). United Stores (A). United Stores pf (4). Univ Leaf Tob (3) Univ Pipe & Rad. ... Univ Pipe & Rad pf.. 18% Utll P&L(A) et2.15. 213, Vanadium Corp..... T4 Va-Car Chem 6% pf. 55 Va-Caro Chem pf (7) 381 Vulcan Detin (4) Wabash RR. Waldorf Sys (1%) 4 Walworth Co. . Ward Baking (A). Ward Baking pf ( Warn Bros Pictures. Warner Bros pf 3.85. Warner Quinlan. ‘Warren Bros........ Warren Fd&Pipe(2).x Wesson O11&Sno(2).x Wesson 0&Sno pf (4) 5 West Pa El pf (7)... West Pa Pwr pf (6). West Pa Pwr pf (7). i Western Dairy (B).. Western Maryland.. 4 Western Md 2d pt. Western Pacific. ... 4 Western Union (8).. Westinghse AB(2).. 8 4 Westing EI&Mfg (4) 845 Westing E&M pf (4) 840 Weston Elec Instru., Westvaco Chlor (2).. White Motors....... White Sewing Mach. White Sewing Ma pf. Wilcox 011 & Gas 4 Willys-Overland. ... Willys-Overld pt (1) Wilson & Co......0a Wilson & Co (A) Wilson & Co pf Woolworth (2.40). .. Worthington Pump. 9 Wright Aeronautical 663 Wrigley (Wm) (4).. 5% Yellow Truck, E 14% Young Spr&Wire(2). 29 Ygstwn Sheet&Tube. 1% Zenith Radio. . 10 Zonite Prod Corp (1) Pl 10 JN 908 99 168 261 25 10 4 1 30s 208 208 9 24 13 9 59 78 29 14 7 15 32 2 23 10% 5% 5% % 48% 15% 12 4% 29 214 12% 6 3% 1% 4 27 611 35 11 6715 6 15 29 1% 10 6 5% ~ e 105% 1013 354 10% 13 2815 Bl 2214 13% 35 Add 00. High. Low. Close. Ch —% % — % + % =¥ =g .. =9 =% ¢ Zieg - % 9915 - 22y 83 11 15% 12% 2 44 4 34 32% 1% 4 27 618 35l 11 69% 614 15 2914 1% 10 Sales of Stocks on New York Exchange. 500,000 1,600,000 300,000 12:00 Noon.. 400,000 Dividene xEx-dividend. 4% in sLess than 100 share: stock. fPlus 9% in stock. & Paid la: e Payable in ock. 1Plus 50c in_specl P Plus 212% in stock. 4 ates as given in the above table are the annual cash payments based on the latest quarterly or -yearly declara- £ Plus 8% in stock. preterred stock. X Plus m Pald this year—no regular rate. nPlus 5% in CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, September 15.—The following is a summary of important corporation news prepared by the Stand- ard Sttistics Co., Inc, New York for the Associated Press. News Trend. Automobile production continued to | decline, dropping to 41,226 units for the | week ended September 12, from 42,486 | units in the previous week, according | to Cram's automotive report. Ford | production remained unchanged from the preceding week. The decrease was caused by curtaiimsnt of output by one two medium-priced producers. 4 ‘The Companies, Kaynee Co.—Regular 50 cents quar- | terly common dividend declared; extra dividend of 121, cents paid in two pre- vious quarters. Pines Winterfront Co.—Negotiations reported practically completed for ac- quisition ‘of Aske Fumer Co. McKeeport Tin Plate—Operating at 50 per cent of capacity vs. 75 per cent 2 months earlier and 80 per cent in | June. Telautograph Corp. common share earnings, 8 months ended August 31, $1.07 vs, $1. Co., subsidiary, months up over §i) July lighting and appliance electric en- ergy consumption of Gatineau Power 16 per cent; seven per cent. Ford Motor—Iricreases Green Island working force by 200 men to 1,600, i line gallonage sales for 1931 to Sep- American Stores—Sales, 4 weeks end- ed August 29, off 9.1 per cent, 8 months, off 3.7 per cent. Arundel Corp.—Reported obtained $2,389,000 new contract recently; year's dividend covered in first 8 months. Atchison, Topeka & Santa Fe Rail- way—Wheat traffic above year ago, ex- pected to offset effect of lower rate; other classes of traffic lower. Baltimore & Ohio Railroad—Divi- dend mecting postponed to September 30 _to assure quorum. British American Oil—New Montreal Tefinery operating at.75 per cent of capacity. Chicago .Great Western - Railroad— Declared 50 cents dividend on account of accumulations on 4 per cent pre- ferred stock. Continental Oil (Delaware)—Gaso- tember 10 10 per cent above last vear. Detrolt & Cleveland Navigation— | Quarterly dividend omitted; paid 20 cents July 1. Dominion Steel & Coal Co! tion, Ltd.—Working period at Bell Islan iron mines cu'ill.led from 12 days to 8 days & mon! Internationa) Hy System— Missouri - Kansas - Texas Railroad— Late cotton crop to be reflected in Au- gust_earnings; reported possibility that fixed charges for the month will be earned; pay roll cut about $1,000,000 below normal. Pacific Finance Corporation of Cali- fornia — Current quarter's dividend needs of 22 cents a common share cov- jered in July and August. Pratt & Lambert, Inc.—Seventy-five cents quarterly dividend declared, pre- viously paid $1. ‘Telephone Bond & Share declares $1 extra and regular $1 quarterly dividend on_participating preferred shares. ‘Youngstown Sheet & Tul e tions at about 34 per cent of capacity, vs. 20 per cent in latter part of last week. Dennison _ Manufacturing—Working schedule at Framingham and Marlboro, Mass., plants cut from 44 to 40 hours ‘weekl, ‘A Hydroelectric Securities declares 30 cents quarterly common dividend; for- merly paid 35 cents. ~ Feltman & Curme Shoe Stores $7 pre- ferred share earnings before taxes, 8 a&mwl\mn,ummu o—t FINANCIAL.S DECLINES N BOND | [ o= BONDS e semwe] [(RUDE OILOUTRUT MARKET RESUMED Index Drops to New Low Mark, but Tone Is Steadier. BY F.'H. RICHARDSON. Speclal Dispatch to The Star. NEW YORK, September 15.—While the pace of the decline was checked somewhat by early firmness in stocks, the bond list again dropped into new low ground today. All groups in Stand- ard Statistics index of 60 bonds have now fallen below their previous lows of the year—industrials, utilities and rail- roads. Trading was lower in volume than on Monday and the undertone was much steadier.” Money rates were un- changed. At the opening the weakest group was German dollar loans. Young Plan 51%s and Dawes Reparations both made new record lows, off 2 and 3 points, re- spectively. Shortly afterward, however, they recovered some of the loss. At the same time, German municipals were driven down on rumors of prospective defaults on October 1 interest pay- ments These proved without foundation, particularly in one case. The interest money for the October 1 coupon on the City of Berlin 6!2s has already been received by the bankers. However, the significance placed on the Heimwehr uprising in_ Austria created a heavy tone in all European bonda and prices were generally lower. Japanese utility issues were off, notably Toho 7s and Tokio Electric 6s, which dropped 2 points each to new low prices for the year. This liquidation was ascribed to a political dispute with China and liquidation of Japanese se- curities in London. In the domestic department a much more cheerful tone prevailed. Most of the reports circulating in the Street were of a bullish nature, contrasting with the gloom that has held sway for more than a week. In President Hoover's conversations with the bankers at Washington it was brought out that the general feeling was that the bond market was due for a rise. This was not reflected in today's market except in general sentiment. United States Government long-term issues were active, as on Monday, and prices were steady. The new 3s were listed for trading and opened at 99 14-32, later rising slightly. In the rallroad list losses of 1 to 2 points characterized many junior bcnds, but prime offerings such as Atchison general 4s, Norfolk & Western 4s and Union Pacific 4s were firmer. In the better grade mortgage steadiness was the rule, notably in New York Central 5s, Pennsylvania general 41;s, Rock Island refunding 4s and Southern Pa- cific 4';s. New lows were made by many junior carrier issues such as Missouri-Pacific general 4s, Nickel Plate refunding 5!;5, Southern Rallway 5s and Western Maryland 4s. In the general list International Hydroelectric 6s dropped over 2 points to a fresh low. Bonds of other com- panies with foreign connections were also heavy. Oil, rubber and amusement company bonds were quiet. Washing_t;n{ Stock Exchange ' SALES. Capital Traction 55—$1.000 at 78%. AFTER CALL. Potomac Electric Cons. 55—$1,000 at 105!, American Security & Trust—1 at 320. Real Estate Mtge. & Guar. pfd.—100 | at 62 Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel. 4%is '30..... Am. Tel. & Tel. ctl. ir. 5s Anacostia & Pot. R. R.'5s ..... Atacostia_& Pof. guar. 5s..... C. & P. Tel. of Va. 55 Capital Traction R. R.’5 City & Suburban '5s.. Georgetown Gas lIst 35 Potomac Elec. cons. 5%. Potomac_Elec. 65 5 Wash ., Alex. & Mt. Vernon ctf Washington Gas 4'as Washington Gas 5s... Wash. Gas 6s, series A Wash. Gas 65, series B Wash. Rwy. & Elec. 4s...... .. MISCELLANEOUS. Barber & Ross. Inc.. 6'as...... Chevy Chase Club Sias Columbia Country Club 5'as. D. C. Paper MIg. 65 ........... W. M. Cold Storage 55 = STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel (9) . Wash. Gas Lt. Co. (18).. N. & W. Steamboat (12) Pot. Elec. Power 8- pfd Pot. Elec. Power 5'2% pfd Wash., Rwy. & El com. Wash. Rwy. & El pfd. (5) NATIONAL BANK. Capital (1) ............ . Columbia (12) gommn':‘l;} (stamped) (10| Liberty (79).. . . . X Lincoln (12).. Metropolitan Riges (158) Second (9e) Wasnington (13). TRUST COMPANY. Amer. Bec. & Tr. Co. (15 golllxtmstntll‘ '¥\la(‘ 12’9: . Prince Georges Bk. & Tr. (6).. Union Trust (88).......... ‘Wash. Loan & Trust (14).. . SAVINGS BANK. Bank of Bethesda (6%). Commerce & Savings (10 East Washington (12). Potomac (10) e rraae 8ec. Bav. & Com. Bk. (1T). Seventh_Street (12). United States (30). ‘Wash. Mechanics (20). FIRE INSURANCE. American (12) . Corcoran (10) Firemen's (8)... ...\ National Union (i8). TITLE INSURANCI Columbia_ (6h) . 5 Real Estate (6h)...... 5 MISCELLANEOUS. Barber & Ross. Inc.. com. . Col. Medical Bldg. Corp. (8). Col, 8and & Gravel pfd. (7 D. C. Paper Mt Dist. Natl. Sec_ pfd. | Emer. Bromo-Selz. ‘A’ Federal Storage pfd E Fed . (1.200) Bid. Asked. 125 2 {4 Mer. Tr. & Stge. pfd. Mergenthaler Linotype (6 Natl. Mtge. & Inv. pfd. ( les Drug Stores pfd. ( Real Est. M. & G. pfd. (8) Becurity ‘Storage (4e) Ter. Ref. & Wh. Corp. (3). The_ Carpel Corp. (2 W. Mech. Mg ““Mad, Bidg. Corp. ard & Lothrop com. ( ) Woodwara & Lothrop bid. (1) . end. 2% extra Esoka" ol Sata% extrm 34 "extra. 4% extra. 5% extra. POTATO MARKET. CHICAGO, September 15 () (United States Department of Agriculture).— Potatoes, 36; on track, 213; total U. 8. shipments, 496; steady, lrldlnwlow; sacked, per hundredweight, Wisconsin Cobblers, 90a95; few higher; heated stock, 75; Minnesota Cobblers, 75a90; [daho Russets, No. 1, 180a185; No. 2, 120 a130. " Dividend Meeting Postponed. .TIMORE, mber 15 (Special). —% Baltimore & Ohio Raflroad has postponed its dividend meeting sched- uled for tomorrow yntil September 30, to mssure a quorum, it was announced. e PARIS BOURSE PRICES. - PARIS, September 15 (#).—Three per cent rentes 89 francs 40 centimes. Five per cent loan, 104 francs 50 centimes. Exchange on London, 123 francs 97 centimes. The dollar was quoted at 26 UNITED STATES. (Sales are in $1,000.) Bales. High. Lib3%s32-47.. 10 102 § Li1st4%s 32-47 21 102 27 L4th 4 33-38114 104 25 US3%s'49.... 18 100 24 US3%s40-43 1 101 23 US3%s41-43., B3 101 23 US3%s43-47., 30 101 26 US3%s46-66..102 105 4 U S 48 44-54 21 107 7 US4%sdT 12 111 8 Bales. High Abitib P&P 58’63, 8 52% Alleghany Cp 58’44 35 56% & ' _heny 5849, 18 50% Allegheny 68°'60... 74 40 Allls-Chalm 58 °37.; 1 101% AmF Pb5s2030.... 22 66% AmIGChb%s’49. 54 90 AmInt15%s"49....32 T7% Am Metal 5% '34 63 18% 1021 104% 121% 108% 1077 108% 111 1004 95% 5414 6113 5915 63 64% 6llp T3l 57 98 98% 10643 9615 79 45 48% b4 5315 106% Am S&R 1st 5847, Am Sug Ref 65 Am T&T cv 4% AmT&T 6565 Am T&Tc trbs Am T&T 5%s'43. Am W Wks 65 '34 Am Wat W Argentine 68 A '57. Argentine 6s B '68. Arm & Co 4%s'39.. Arm Del 5335 43... Atchiscv 4% AtICL1st4 AtICLcl 4852 AtGult 58’59, Australia 4%s Australia 58 Australia 58’5 Austria 7543, . Austria 78 '67 ct! B&O4s'48. B&O 41833 B&Ocv4% B&O 1st 55'48. B&Orf 53’95 B&O 58 D 2000 B&O 689 B&OPEWV 48’41 B&OSwdv 5850, B & O Toledo 45 '59 Bk of Chile 6% '67 Bk Chile 6% 5 Batav Pet 4% Belgium 65 Beigium 6 Belgium ceoie Betl Tel Pa 55 B 48 Bell Tell Pa 58 C'60 B Ind Loan C 6546 Berlin Cy El 68'55. Berlin C’E 6135 '50. Beth St Bolivia Bolivia Bolivia 85’4’ Bordeaux 6s ‘34 Bost & Me 4%5 '61. Bos & Me 58°55. .. Bos &Me 556 Brazil 6148 '26 Brazil 6138 '27 Brazil Ts Brazil 8s '41 Bklyn Man 6s ‘6 Bklyn Un 1st 55'50. Bklyn Un 55°45.... 10 Buenos A 6s'61 Pv.. 14 Budapest 6: . 20 Buff Gen El P, 1 BR&Pitt 43857, 10 Buxh Ter con 58’56 7 Bush T Bldg 58°60.. 2 7 {Can Nat Ry 4%8'56105 Nat 4138 '57, Nat 4155 '68. .., Can Nor 7sdb "40 Can Pac db 4s. Can Pacific 4135 '46 |Can Pac43%s"60. Car Clin & O 5538 Car Clin & O 65 Cent 11l G&E 58'51. Cent Pac 55 60. Cert-td db 5335 *4 Ches Corp 55°47. C&Ogen 43592, C&O 4%8A'93 C&O43%sB'93.... CB&Qgends’ss.. CB&Q4%8'T7.... CB&Q 111 dv 45'49.. Chi & Est 111 58'51. . Chi Grt West 48’5 ChiM &St P 4s'89. 15 C M StP&P 55°75 CM& St Padjb Chi & NW gn s C&NW 4158 C 2037, Chi& NWcn4s. . Chi&NW rf 55 2037, Shi& NW 6%5°36. . Chi RI& P rf 45°34 Chi RIcv 4%s5'60. Chi RI& P 43%s'52 C TH&SE 1n 55°60. Chi Un Sta 4%s'63. Chi Un St 5s'4s.... Chi Un Sta 55 B 63, Ch1 Un Sta 6%s '63. C & W Ind cn 45'52. Chile 65°60. . Chile 6561, o Chile 6563, . Chile 78°42...... . Chile Cop db 65 '4' CCC&St L 4%s E'77 Christiana 65 '54. .. Clev Term 434577, Clev Term bs '73. Cologne 63%5°50. Colomb 6s Jan *61., Colomb 65'61 Oct. Colon O1l 6538 Colo & Sou 43 Col G&E 5s M Col G&E cou & Com Inves b%s CC Md 1st rf 55’50, €on G NY 4343°51..212 ConG N Y 5%5°45. 51 Con Pwr Jap 63%s.. 2 Con Pow Japan 7s.., 87 Copenhag 4%s *5i 4 Copenhag 5s '52 32 Cuba 5%s'45... 14 Cuba R R 58 '52 1 Cuba Nor 5%s°42., 11" Czecho 85 '51. 2 Del Pwr&L 4%s871. 3 Del & Hud rf 45 '34. 14 Del & Hud cv 58’35 1 Del & Hud 6%s '37. 18 Denmark 41%s'62., 24 Denmark 6%s '55.. 30 Denmark 6s '42 53 Denver Gas §s 2 D& RGren4s’36.. 10 D&RG W 6s'55. 2 DRG&W5bs*78..; 13 Det E G&R4%5'61. 48 Det Edison rf Deutsche Bk 6: Dodge Brcl 6s°40., 17 Donner St 78°42. Duquesne 43 Dutch East I East C Sug 7%s'37, 10 El Salvador 8s°48.. 15 Erie 1st con 48'96.. Erieconv4sB..... Erie gen Erfecv5s’67. Erle 68'75..... Fiat 7s war, Finland 53s ‘58 Finland 6845 Finland 6%s 56 Finland 78 '60... 1 Fla E Coast 68'74.. 57 Fond J&G 4%8°62. 12 Fram 1D 7%s'42.. 35 French 784! .28 French 7%s'41.... 11 Gelsenk’hen 65'34.. 33 Gen Baking 5%s'40 7 Gen Cable 6348 °47. 20 Gen Motors 65 '37., 25 GenPSv5%s'39.. 25 Gen St Cas 6% 849, Gen Th Eq 65 ‘40 s 45 . 20 13 2 Low. Low. 52% 53% 50 3814 101% 656% 90 76 63 17 Close. 102 8102 3 102 25 102 26 104 23 104 23 100 20 100 22 10123 101 23 101 20 101 20 101 25 101 26 105 107 4107 4 11030 110 30 105 Close. 52% 53% 50 38% 101% 657% 90 76 63 18% 1021 104y 118 108% 107% 108% 110% 99% 94 52% 58 58 59 604 591 1214 56% 95 9814 106 9614 79 45 464 b4 53 106% 68% 95 948 6613 1057 840y 8415 Sales. Ger Cen Bk 65'60 J 72 Ger Cen Bk 63’60 0 32 German 7srep ‘49. 242 German Bank 7s'50 6 Ger Gen El 75°45.., 2 Goodrich cv 65 *45.. 28 Good 15t 6%5°47... 4 Goodyr Rub 58’57 GrandTr sf db 6536 Grt Nor 55 '73 Grt Nor gn 5%n 52, Grt Nor gn 78 '36... Greek 6368 Halt! 65°52. s HavERL& P 6s.. Hoe & Co 6148 '34 Hud & M adj 68 '57. Hud & M rf 5857 Humble Oil 65 ‘37 Humble O 5%s'32. 111 Bell Tell 55 '56. . Il Cent 4 '53. . 11l Cent rf 45 '65. 11l Cent 4% ’66. 1 Cent 58 '55. . Ll Cent 614536 11 CCStL&N 58 A. 11l Steel 43540 Inland St 4348 A’ Inland St 414 Int Rap Tr &5 Int Rap Tr 6s°32... Int Rap Tr 78 32... Int Cement 55 '48 Int & G N ad 6s ’5: Int Hydro El 65 '44 Int M Co 5sret'sl.. Int Match 55 °47.... Int MM col tr 6341 Int Pap 55 A "47 Int Pap 6s'55. Int Ry C A 53 IntT& T 4%s Int T&T cv 4348'39. IntT&TEs Italy 7s'51. Italy Pub S 78 Japanese 515 65 Japanese 6155 '54 Jugosl Bnk 75 '57 Kan CF(S&M 45'36. Kan City Sou 58'50. Kan City Ter 45'60. Kan G&E 4135 '80 Karstadt 6s'43. Kerd 5%s 48 ww. . Kresge Found 6x'36 2 Kreug & Toll 68'59.138 Lackaw St 58°50. Lac G St L 68 3. Laclede 54 C'5. Laclede 5135 D '60. Lake Shore 33,897 Lautaro Nit 65 '54.. Leh Val cv 48 2003, Leh V cn 43552003, Lig & Myers 58 '51.. Lig & Myers Ts'44.. Loew’s 65 ex w "41.. Long sl rf 4s " Long Isl db Lorillard 58 7 o - [TTIEL oL SIUES JOPRURUP Ay N 1st 51552008 Lyons 63'34. . McKes & R5%#50, Man S Ist 71842, Manh Ry 1st 4 Man Ry 2d 4s 2013 Market St 7s '40. Marseille 6534 Midvale Stl 5s'36. . Milan 6} Ml E Mil M 561 Ry&Lt 5571 M 5s'38. MK & T Ist 45°50.. MK&T prin 5sA'62. Mo Pac gn 45 '75... Mo Pac 55 A '65 Mo Pac 55 F Mo Pac 55 G Mo Pac 5s H '80. Mo Pac rf 5581, ... Mo Pac 5138 A'49., Mont Pow 5s'43 Mont Pdb 5s A Mont Tr 1st is " Montevideo s Mor&Co 1st ¢ Nat Dalry § at Steel 55 Eng T 15t 5s WS Wales is w S Wales is YCgnilys” Y Cent 45°38. .. Y Cent db 4s'34. Y Cnre 4345 2013, C rf im 58 20 NY C&StL 4158 YC&StLG138A'T4. Y Edisn s B'44. Y Ed 18t 65541, Y NH&H db 4s'57 Y NH&H 458 '67 VH&H clt 65'40, Y NH&H cd 6548, Y O&W 1st 48’ Y O&W gn 4s '55. Y Rys inc 65 '65. . NY S&W gn 5843, NY Tel 43839 N Y Tel 65 '41 Nia Sh Md 5%s8'50. ort South 58 Nor & Wnev 4s'36. No Am Co 5s'61. or Am Ed 5857, . or Am Ed 55 C 63 Nor Am E 5%s '63., Nor O T & L 65 '47. Nor Pac 3s 2047. Nor Pac 4s'97..... Nor Pac r 1 63 2047. Nor St Pw 65 A '41, Nor St Pw 63 B 41, Norway 55'63. Norway 5345 '65. Norway 65 '43. Norway 6344, Norway 68'52. Oreg-Wash 45 '61 Orient dev 5%s'58., Orient dev 68 '53... Pac GRE 55°42.... Pac T&T rf 55'52.. Pan-Am Pet 65 '34 Pan Am Pet 68 '40.. Paramount 6s '47. . Paris-Ly M 6s'58.. Paris-Ly M 75 '58.. Pathe Exch 78 '37.. Penn 4%sD'81.... Penn gn 418 Penn 4%5'70 Penn 4%s'63 Penn 58'64. Penn gen 55 '68 Penn 6345 '36 - Penn P&L 434881, Peoples’ Gas 58 '47. Peru 6s'60. Peru 6s'61. Peru 7s'59. Phila Co 556 Phila Elec 4s 7. Phil & Read 65°49. Philippine R 48'37. Phillip Pet 5%s '39. Pilisb F M 65 '43. .. Pirelli 75 '52. PCC&StL 4%s P CC&StL 58 A 70, PCC&St L 53 B 75 Poland 63'40...... Poland 7s '47. Poland 8s°50. . Port Gn E1 4%;5'60. Por RAm T 6s'42. Porto Alegre 8s'61 Pos Tel & C 58'53. . Prague 7%s '52. Prussia 6s°52. Pressed St C 58'33.. Public Serv 4s'71.. PubSv G 43%8'67.. Pub Sv G 4%s'70.. Pure O11 5%s 37 Queensiana 6s°47. Readgn 4%s A'97. Reading ¢%s B'97. Rhine West 6s '52.. 23 127 7 Rio de Jan Rio de Jan 8 RIAr&L4%s 34, Rome 6348 °52..... Roy D 4s'45 w' 20 StL IM R&G 4s'83. 17 St L&SF in 43 A '50 64 StL&SF é%s°'78.124 StL&SFpl6sB'50 5 StLS Wist 23 High. 54% 54 1% 624 11 50% 96k 85 105 86% 961 103% 8% 65 32 53% 70 954 103% 102% 107 Low. Close. b2 52 70 60 70 48 96% 82% 104 86% 95% 102% 75 64% 32 51 69 94 52 61% i) 50 96% 82% 104 86% 95% 103% 75 643 32 51 70 94 108% 102% 107 55 67% 57 80% 92 65 52 | 0% AGAIN INCREASED Reopening of East Texas Field Accounts for Pro- duction Gain. By the Assoclated Press. TULSA, Okla., September 15.—Re- opening of the East Texas area after nearly three weeks of martial law shut- down accounted for most of an increase of 401,883 barrels in the daily average ofl production of the United States last week, the Oil and Gas Journal esti- mates. ‘Total production for the Nation was 2,137,890 barrels daily for the week end- ing September 12, as compared with 1,736,007 barrels for the week ending September 5. Midcontinent production was 1,220,881 barrels, as compared with 818,231 the preceding week. Of this, the East Texas area produced 397,771 barrels daily, in contrast to a week of no production at all. The total Oklahoma production was 255,935 barrels daily, contrasted with 256,235 barrels daily the previous week Kansas production was 100,420 bar- rels, as compared with 98,515, In the Rocky Mountain area produc- tion was 91,150 barrels daily, with the figure 93,891 the preceding week. NEW LIFE INSURANCE INCREASES IN AUGUST Figures for Month Are Below Cor- responding Period Last Year, However. By the Associated Press. NEW YORK, September 15.—The Association of Life Insurance Presidents reported yesterday that new life in- surance production in August made the best showing since last February. ‘While new paid-for life insurance for August was 9.6 per cent below the amount written in the corresponding month a year ago, the decline was in contrast with a drop of 17.1 in July against the same month in 1930. The cumulative total for the first eight months amounted to 12.6 per cent less than the comparable period of last year. The cumulative total for the first seven months of 1931 was 13 per cent less than a like period last year. The report of the association, cov ering companies writing 82 per cent of the total volume of life insurance in the United States, shows August new business amounted to $839,451,000, against $929.008,000 during the like period of 1930. 'New ordinary insur- ance amounted to $546,599,000, against $622,075,000, a 12.1 per cent decrease in a year. Industrial insurance written in August totaled $246,908,000, against $233,745,000 a year ago, an increase of 5.6 per cent. Group insurance showed the largest decline, falling from $73.- 188,000 to $45944,000, a decrease of 37 per cent. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co) Bid. Allis-Chalmers Co. s 1937... Americaz Chain Co. 6s 1933 Amer. Tel. & Tel. 5'a Am. Wat. Wks. & El Baltimore & O Beldirg Hen s 1 Corp. 55 1936... Ruwy. 4izs 1035 Chi. Northwestern K. R 5s 1933 Chicago Rock Isiand s 1934 Cleve., Lor. & Wheeling 5s 1933 Colorado & So. Rwy. 41as 193> Commercial Credit Co. 5'as 1935 Delaware & Hudson Co, 35 193> Denver & Rio Grande 4'3s 1336 . Gen. Mot, Accep. Corp. 6s 1937 General Petroleum Cqrp. 55 General Public Servide 525 Grand Trunk of Canads 6s Houst. E. W. Tex. 55 1933 Humbie Oil S1zs 1932.. Laclede Gas Light Co. Loutsville & Nashville 5s 1937. New York Cent. & H. 4s 1934 New York, Chi. & St. L. 6s 1933 Northwest Teléphone 41:s 1634 Pa. R.R. Co. 6125 1936. . Portland General Elec. 3s 1935 Republic Iron & Steel 5s 1940 Sinclair Crude Oil Co. 5'as 1938 Southern Pacific 55 1934 p t. L LMS. Ry. R. & G. 451633 Union Elec Lt. & Pow. 5s 1933 Union Gil Co. of Calif. 55 1935 Virginia Rwy & Power 58 1934. Wabash Rwy. Co. 5s 1939 Sales. High. Low. Close. 21 1051 1 €6 47 St P Un Dep 55 Sao Pau 7s'40 rct.. Sao Paulo §s Saxon P W 6138'51. Saxon 7s "45. Seab ALrf4s’ Seab A L 4s st '50. Seab A L cv 6s'4 RABmsanataohaa aSEDwo - Serbs-Cr-S1 7s"62. Serbs-Cr-Sl 83’62 Shell Un O11 58 *47 Shell Un Oil 55°49. Sinclair Oil 6355’38 Sinc O 7scv A '37 Sine Cr 0 533838, Skelly Oi1 535 '39. Sinc P L 58°42 Soissons 65 36. ... Solvay Am 5s’42.. SW Bell T 53 A 'o4. Sou Pac ref 4s 5. Sou Pac 4155 68. SouP 4%8 69 ww Sou Pac 4%s'81... Sou P&Or 4%s'77. Sou Ry gn 4s'56... Sou Ry 55'94 Sou Ry 65’56 Sou Ry 6% °56. StOIIN J 58"46. StOIINY 4%s'51.. Sweden 5% "54 Swiss 538 '46...... Taiwan E P 5%s'71 Tenn EI P 68 A *47. Tex & Ark 5345'50 Texas Corp 5s'44.. Tex & Pac § Tex & P 55C'79. Third Av 1st bs°37. Third Av adj 55 '60. Toho El Pw 6s '32 Toho El Pw 78 '55 Tokio 58 '52. Tokio 5% " Tokio El Lt 6 Un Pac 18t 4s 47 n Pac 48 '68 n Pac rf 4s 2 Un Pac 4%s'67 Unit Drg cv 5553 U S Rub 1st 5s '47 Un St W 6158 A'47.. Ud St W 6348A'51. Ud St W 5%sC'51. Uruguay 6s°60.... Utah P& L 5s’44.. Util Pw 55 59 ww. Util Pow 5%8°47.. Vanadium St 5s"41.. Vienna 6s ‘62 Va Ry 4%5°62 Va Ry & Pw 5834, Va Ry 18t 55 '62... Wabash 1st 55'39.. ‘Wabash 2d 5s°39.. ‘Walworth 6s A "45. ‘Warn Br Plc 9. Warn Quin 6s°39.. Warner Sug 7s "41 Warsaw 7s ‘58 W West E1db 5544 ‘West Md 4s '52 West Pac 55’4 West Union 5551 West Union 53 °60, Wes: Un 6158°36. . WEOS5%3'37 ww. Wilks B & E 1st 5s. WII-O 15t 635 '33.. W1l & Co 1st 65 '41. ‘Wis Cent gen 45 '36 Yokohama 6s '61. Ygstn S&T 65 A" Ygstn S&T 6s B'70.