Evening Star Newspaper, September 28, 1931, Page 13

MONDAY, SEPTEMBER 28, 1931. . FINANCIAL. % A—13 employment have been mmfi,s |BEAR RAIDERS-TOO POWERFUL |mmrpesrenies meeee FOR BIG BANKING INTERESTS it niritiveaty s s s American Radiator Co., is arousing con- hopes of increased activity in business | joadershi) e p of the Government to correct will have to be postponed until the be- | existing conditions, this country faces STAR, WASHINGTON, C, STOGKS RREGULR N QUET WARKET THE EVENING TRADING IS LIGHT [ NEW YORK STOCK EXCHANGE P tocks sold In 100-sh these Gesigmated by lotter “s.” | 1931 Stock and Sales— Net. UN fl. B. EXBHANGE e s Net. | High. Low. Dividend Rate. Add 00. High. Low. Olose. Chse. e. Chee. | 185% 103% Eastman Kodak (18) &1 109% 103% 104 —4 e~ High. Low. Dividena Rate. _Add 00. High. Lew. Olos ge. 52 815 Abitibl Pwr&Pappf. 2 8 8% 8% — % 7% Faton Axle & Spr(1). 14 9 % - % 106 100 Abram Straus pf (7). 108 85% Eitington-Schild pf., 1 BY CHARLES W. STORM, Editor the News Service of Wall Street. Special Dispatch to The Star. YORK, September 28.—Despite | sty FEY® 10 b e Bonds Featured in Day's Transactions—Many Is- sues Ex-Dividend. BY EDWARD C. STONE. The first sale on the Washington Stock Exchange when the week's busi- ness opened today was a small lot of Second National ‘Bank stock at 166. Lanston Monof Was n;; l;ecnnd‘d luu: to ar, the first sale g made a “‘:'Dp:,“h three other small sales fol- lowing at 75 flat. Bonds were more popular than stocks in today’s market, the first transfer in the bond division being $1,000 Potomac Electric consolidated 5s at 104. There was & $1,000 sale in Capital Traction 5s at 76'; and a similar sale in Potomac Electric Power 6s at 108'5. ‘Washington Gas 6s, series A, moved 235 R - Adams'Express (1).. 8315 224 Adams Millis (2).... 4 109% 64% Air Reduction(t4%). 24 10% 1% Airway Elec Appl... 2 204 7 Alaska Juneau (40c) 259 9 5 Albany Wrap Paper. 12% 3% Allegany Corp...... 8 Alleg Cp pf 330 ww.. 24 Allegheny Steel 60c. 85 Allled Ch&Dye (n6). 120 :ll‘od Ch&Dye pf(7) 76% Am Can Co (15).. 9% Am Car & Fry (1). 4 40 Am Car & Fdy pt (1) 1908 34 AmChicle (t3)..... 7 5% Am Comel Alcohol. . 5 Am Encaustie Tiling 13% Am & For Power. ... 49's Am & For Pwr pf(§) 25 Am & For Pwr 2d pf. 1 Am Hide & Leather.. 10's AmHide & Leath pf. 45% Am Home Prod 4.20. - 45% 115 49 1 39% 12% 12 29% TH 30 27% 56y 211 k] 27 Elec Auto Lite (4). .. 98 Elec Auto-Lite pf(7) 1% Electric Boat....... 215 Elec&Musical Instru 23% Elec Pwr & Lt (1)... 71 Elec Pwr & Lt pf(6). 79 Flec Pwr & Lt pf (7) 30 Elec Storage Bat (4). 30 Endicott-Johngon(3) 102% Endicott-John pf (7) 22 Eng Pub Svc (1.60).. 60% Eng PSpfww (5%). 10% Erie RR.. “ee 3% Eureka Vac 4% Fairbanks Co pf ctfs. 5 Fairbanks-Morse.... 4 Fed Mot Truck(40c). 11 Fed Wat Sve A(1.20) 16% Fed Dept Strs (25¢). 25% Fid Ph Fire In(2.60). 13 Firestone T& R (1). 56 Firestone T&R pf(6) X Fisk Rubber........ 31 40s 6 12 47 % Fisk Rubber 1st pf.. 1908 14 Fisk Rub 1st pf conv 120s 961% Florsheims pf (6)... 11% Food Machinery 1%. 13 Foster Wheeler (1).. 208 1 16 108% 108% 23 2 604 60% 13% but Some Issues Make New Lows. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 28.—Lower prices for individual issues, but steadiness in the general list today testified to the way in which the stock market is rapldly becoming shockproof as far as foreign developments are concerned. The market opened slightly lower, but volume soon dried up. Individual stocks made new lows, but the rank and- file held steady, particularly the railway shares. In fact, the most encouraging feature of the trading was the firmness in the carrier stocks, a firmness not to be explained by any change in the earnings returns, but still by the belief that some relief was to come out of NEW +|General List Fairly Steady, linduttia: snd ratroed siscks”deciinea last week to a new low level for the bear market, Wall Street has little hope for a change this week for the better in the securities markets. This lack of hope arises from the fact that there are as yet no signs that liquidation has been completed or that the powerful banking interests of the | Natlon have entered the market with supporting orders. Another reason for gloof lies in the unsettled conditions which have grown out of the disturbed credit situation following the temporary abandonment of the gold standard by Great Britain. The financial district realizes that it will be some time before the readjust- ment resulting from this has progresse to the point where betterment can be anticipated. The Poor Rich. ‘The so-called big banking interests are unable at this time to come forward and take care of the steady liquidation ¢ which is coming into the market from In former |of & wave of wage reductions. The | spectacle of a rising stock market in the | In the meantime the stock market ' will once more be called upon to face announcements of unfavorable earnings for the third quarter of this year, which will soon begin to appear and which will undoubtedly be used as a basi¢ for additional dividend reductions and omissions. Readjusting Labor. Last week's events in the stock mar- ket proved that the Street was too hasty in cttempting to discount in a favorable way marketwise the beginning face of a general lowering of the wage cale is not considered as meeting with favor on the part of the public or | | Washington. The efforts of some corporations to | readjust the working man's pay by a | shortening of the working week is con- | sidered one of the least harmful of the | methods being applied to the readjust- ment of labor and one that is calcu- the likelihood of a continued growth of unemployment which by 1940 would bring the total figure for idle workmen up to 8000,000. This economist in | suggesting a solution of the problem ahead recommends in his plan thai the following action be taken imme- diately: “Adoption of a six-hour day for al! productive labor services. Modifica- tions of the law excluding light wines and beer from the list of intoxicating beverages. Reduction in tariff barriers, almost, to those of a free trade country. Formation of agencies planning the de- velopment of export trade. Increased employment in building trades by the establishment of a Federal mortgage bank operating along lines similar to those of the Federal Reserve Bank, with rules and regulations designed to stimu- late our ever-diminishing ownership of homes, particularly by the legalization of 15-year mortgage paper. This would have the effect of reducing costly sec- ond mortgages, usually the cause of dis- couragement to those who want to build. or foreclosure proceedings to many who at 101'; on a light turnover. The clos- 1ing stock sales were in Potomac Electric 815 per cent preferred at 108 and 107%. Five bank stocks, three utilities and nine miscellaneous issues are now being quoted ex-dividend on the local board. It is understood on the exchange that the Interstate Commerce Commission. |&ll parts of the world. lated to an have built.” Rallway stocks, which acted the best, | Panics the banking fraternity has been | Jiifd 1o cuts unemployment and pos- | have bullt, (Coprright, 1831, by the North American Itimore | 8ble to cope with professional short included New York ccntr;l‘,i fi‘tchugnf selling and raiding, but that element has | _A Tumber of plans for reducing un- | aper All Inc.) 17 Freeport-Tex (3). 5 + % | & Ohio, Unlon Pacific grown too large, and financially power- 210 Gabriel Co (A) . — g IBOEEE ERCINC WaN Wyuk ful to be elimnated, especially when *mmmmmmmmmmmnmmummmmmmmmm* sts close to th ement of 2734 Gamewell Co ( -1 High-Priced Issues Lower. financial and trade developments con- % an o = ¢ 1’;‘.‘."&:1 B ol g s g g a2l Noe 4:1:/.’)1 e gl :r:p:':";k(;‘; - T1%|, Losses in the industrials were largest ;;m?vfi\gx‘goeggg: ‘;fny:‘;‘;;e:?:é We Give Property Management Personal Attention buying preferred stock, several trans- | (64 78' ATM TR IE (R e- e 3 ; 5% 16'5 Gen Baking (2) - e e ciated WHICh by the New York Stock Exchango (o fers in this issue recently being made at 5815 Am P&Tt pf A 8t(5). 98 Gen Baking pf 10! lows were recorded by Coca-Cola and |Curb short selling, but its ability to 30. The stock closed today, ex-alvidend, | Tis Am Radiator (60c). . 8 ‘ | Enstman Kodak, two-sfocks that had | Testrain bear rading is somewhat, lim- L 125 Am Rolling Mills. .. Jbeen under pressure —on Saturday.|(seq bY the fact that "rm no control 32,000 More Pennsy Stockholders. 30!« Am Safety Razor Kresge, which 'ad aitracted attention |OVer the operations of ‘those prafes- More than 240,000 stockholders were [ 1% M AMEhIng Com. . .o last week by the way in which it had iy e Bt R ol ore ; s i Am S been seemingly “pegged.” broke to a Ll 3 y - Sftie e o ];Dfi';g:r 1, an bl ol 11'4 Gen Elec snec (66c) . new low as supporting orders were with- | £its3 ?J;-Eé‘f?i’.‘é’“i&&‘fi'?é‘i’i&“&?fi&: increase of 32,000 over last year and 955 Am i & Rt o (1), 39 Gen Food Corp (3).. 14| drawn.; Kreger &= Toll made & mel v il 0 oy, an advance of 800 compared with last 20 Am SnUM (13%). 3 Gen Gas&El A(ed0e) 10 T O e s 'well as| The feeling, however, is growing that month, according to figures made pub- 15 Am Solv & Chemies 24% Gen Ital Ed El m2.61 3 ) B = %155 the rest of Europe. Other new lows [ under the usual conditions prevailing T ns oty - tha fast Rl i ol s i o — % | Were made by Union Carbide & Carbon and the inability of the blg banking that Pennsylvania employes now com- | g0 {5 Am Su; 95 Gen Motors pf (5. and by Goodyear Rubber. r)l‘ erests to protect the stock market, prise almost a quarter of the entire | joe.. 96 Am Su 3% Gen Outdoor Adv. Against these declines could be set|that there should be less raiding of number of stockholders. More than | “y7.0 “gy Am Su 6% Gen Outdoor Adv( the geod inquiry for metal shares, Pre- | stocks, especially in view of the present 50,000 employes, or approximately & | 501s; 135 Am Te] & Teley 14 Gen Prig Ink (3%). » 1008 sumably on the theory that their silver [low prices. X 4 he RANDALL H. HA . third of the raiiroad's working forces, 8% Am T ey 4% Gen Public Bervize operations would be profitable under t Setahtal Watting. . . GNER & C are part owners in the company. ool o AR 82" Gon Ry Signal (5 new international set-up, all of these ing OMPANY The number of women stockholders | 135~ 12274 Am Tobaceo pt (6 1% Gen Realty & Util. held Saturday's gains and some of them | The Street will this week continue to MORTGAGE LOAN CORRESPONDENT & 17 E ve Soun | watch closely developments relative to y o~ - 8 now the largest in history, an in-| 105 51 Am TypeFdy (8 23 Gen Realty & Util pf. made fresh advances. Howe d was | Wa 7) ¢ . ‘ 7 notably strong. financial conditions in Europe, especial- /4 }é‘ crease of 5000 having been recorded | ‘go, 30 Am Water Wks 27 Gen Refractories (1) oAl ORI ol s Saboiton . oo Yord'. ./ Mw(»fom/@;y 1321 Connecticut Ave. Decatur 3600 over this time last year. More than| 79 26 Am Wat Wks 1% Gen Theatre Equip. - 0 Gillet . with a decline in American Telephone, | abroad would undoubtedly find quick 105,000 women hold Pennsylvania| 107 85 1 ette Saf Razor Dut go0d support for Consolidated Gas, | and favorable reflction in the stock | ! ¥nmmmmu|xm||m||munnmlmuummulmmmnmnmmmmmmmmmmmm* ywning f 7 8, 0 i el e | A1k AR Oo Gl e Public Service of New Jersey and Elec- | market here, and stability of sterling 104 Gold Dust pf (6) 1 pivotal shares did not change impor- | ment the latter part of the week from A o — LD 6% Goodrich (B F). 12 tantly. the apparent culmination of the down- E 't b C 0 . B l d I3 quitable Co-Operative Bldg. Assn Organized 1879 5ist YEAR COMPLETED 26% Goodyear T& R (3). 46 ward movement in the pound cterling. 63 Goodyear Ist pf (7). Further liquidation of American securi- JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary Subscription for the 101st Issue of Stock Being Received 3 Gk T s ek AL of et e e 8% Granby Con Min (1). ;.mce':.:e which: & now fi,fi:r‘":.y"s‘n Consult Us if You Want a Loan on Real Estate or to Take Up a First Mortgage 6 Grand Sil Strs (h1)., 1. world finances. Those who desire to borrow money to pur- 5 8 10% Grand (Tnfon........ 2 Fajlure of general trade and indus- 34% Grand Unfon pf (3).. 4 rand Union pf (3) mestic equitles and there Was no rea- try to show Fall seasonal improvement 5 9 1 3 chase a home, refinance present indebtedness or improve property should see us. Applications 25% Grant (W.T) (1).... has be the for th % Gt i son why it should. Opinion in the R e - Street as to the future of the market | DU pessimism in Wall Street. The will receive prompt and courteous attention. Loans Repayable Monthly 141 Great Northn Ore(2) : 6% Great Western Sug.. was sharply divided. Short selling was | "¢t that no expansion in business has still under an unofficial ban. There was while. on tne other hand, No Brokerage . . . No Commissions 915 F ST. N.W. 12% Am Jce (2)... b 6's Am Internation . 1 Am La France&Fom. 65 Am Lo'motive pf (7) 17% Am Mch & Fdy 1.40.. 5 Am Metal Co. 5 Am Natural Gas pf. 3 -2 18 Fourth NatInvméSe 7 23 9% ~1 9 Fox Film (A) (2%}.. 14 9 9 67 Frankiin Smnpf(7). 10s K — % » % BammBanmnunlen UR Property Management Service includes every featurg and phase of the care, maintenance and operation of property. The object is to render complete service—taking the worries and responsi- bilities from owners and placing the property on a sound paying basis—whether apartment house, office bullglmg, residential or business property. For this service only a nominal fee is charged. PROMPT remittance is the INVARIABLE rule of this office. Gien Cable pf. Gen Cipar (4). 2914 Gen Electric (1 11 PP, -~ ing stock. 20% Am Woolen Co p! Pennsylvania, the railroad’s home | gx; A Zine & Lead, Btate, continues to lead in the number of stockholders, 95,000 being registered within its borders this month. Penn- sylvanians own approximately 40 per cent of the outstanding shares. New York is next in line with 44,000 owners. Survey Shows 72 Community Trusts. Seventy-two community trusts are operating in the United States, one in Hawail and one in Canada, of which| 235 11 Atlantic Refining (1) 41 were reported as controlling funds | 997, 8213 Atlas Powder pf (§). 50 aggregating -$32,300,000 January 1, it| 1315 5 Atlas Stores (1) 3 is brought out in a survey of this| 2951; 1011 Auburn Auto (f4)... movement just issued in book form by | 28 17% Austin Nich pf A (3) 320s kh;m'imn eany dlvm:lx;n of the 2% Aviation Corp (Del). 11 ican ers’ Associaf 3 S % 8 Baldwin Locomotive 8 i o by irhad e Dbl el B 4 51 Baldwin Locopf (7). 10s the committee as having no funds, g 4 Balto & Ohlo (5) 26 ] being newly organized or named e wills to receive funds at a later date U ooy kot S and 14 being classified as foundations 147% Bendix Aviation (1). 10 within knawiedgs of any gifts in Dioe 20 &C: Bisitr d . Five trusts were reported as hav- foundations were under contemplation. 20% Bohn Alumn (13%) During 1930 thirty trusts made cash 58% Bon Ami (A) (15)... distributions totaling $994,382, an in- 431 Borden Co (k3). crease of more than 16 per cent above 111 Borg Warner (1).... the amount distributed in 1929. In 8% Briggs Mg (11%).. the 10 years since 1921 there was an 39% Bklyn-Man Tran (4). increase in foundstion funds of this 78% Bklyn-Man Tr pf (6) V7 Gives the mames of doners of niial e " 3). 0 13 of the largest or most active s e g loundations, with amounts and objects 7 tric Power & Light. During the morn- | exchange would have a favorable in- r pf ( B0s % | ing hours United States Steel, General | fluence on sentiment. 184 Gold Dust (23%). 15 Motors, General Electric and other The Street received some encourage- % - P T T P T Anchor Cap (2.40) 8 Archer Daniel Mid 27 Armour of Del pf (7) 11% Armour of T11 (A)... 3, Armour of Ill (B) 3% Arnold Constabls 29% 12'% Asso Dry G (2% 208% 105 Atch To&S Fe (1 Opinion Divided. Buspension of gold payments by Nor- +|way and Sweden and the prospect of other countries going off the gold stand- ard were received calmly in Wall Street. The demoralization in the foreign bond list had no effect on trading in do- - = s 4 2 Grigsby Grunow.... 2 u 9% Gulf Mobile & North xd\o ngr:’ cé{ulmpomm liquidation. The ay’'s declines were registered on a i A R TN relatively small volume of selling, 8 REFRIGERATION CALLED , “DEPRESSION PROOF” IF YOU PLAN TO 3R § 111% 111 I -Fi 77 1% 3" | speciai Dispaten to The star. fl 5"’;:':,::; 19 19 CLEVELAND, September 28.—The 9% 9y refrigeration industry, with a fine rec- 4% ord of accomplishment and a promis- 58 ing prospect for future growth, appears to be one of the few depression-proot industries, according to a survey of the Union Trust Co. The study appears in the current issue of the bank's publica- tion, Trade Winds. “It seems certain that the wholesale manufacture of ice and cold storage of foods and other commodities will con- tinue in increasing volume,” says Trade Winds. “It is equally certain that a mechanically-minded people will con- tinue to buy domestic mechanical re- frigeration units in great numbers as their means permit. Added to these certainties are the immense ice mar- kets which new cooling requirements seem destined to create. “The refrigeration industry includes _g14 | the original business of selling ice, the |later development of manufacturing Ilce and piped refrigeration for icin; _ 1 |and cold-storagc purposes, and the sti later sale of individual mechanical re-| ® 26% 27% + 1 frigerating units for domestic use. 192 i1s |Every branch of the industry shows 15 184 Holland Furn (12%) 5% Hollander Sons. ... 4 Houdaille Harshey. . 57 Household Fin (4.20 26 Houston Ofl. .. 5% Houston Oll (new Howe Sound (2). 3 Bruns 27 Hudson & Man (3 Where specified. 8 Bucyrus-Tirleev pf.. 9% Hudson Motor (1). Normal Buying Forecast Soon. 20 Bucyruspf (1)...... 1 4" Hupp Motors The morning stock letter of Hayden,| ,o° ) M 26 Ilinols Central (4) Stone & Co. contained more sunshine L3 5 35 Ilinels Cent 11 (4) s o : 1% Indian Motor Cycle. :l:;nu’mlni nlx:‘hu:a?.n’: ;:-La’:g‘re::;n 18 Burrough A M(f134) 23 % 2 Indian Refining just when the business revival will R ) 213 Indust Rayon (4) o g Eae 4% Inspiration Copper. . Start, Perhaps it has coms already— 90 Bush Terminalpf(7) 10s D coms orrow % Insuranshares Del A m”‘;‘:‘}_‘m mm" ”o;.t"h:dn'e;z 1% Butte Copper & Zine. 2 9% | & Sasur BarcaE) (e, dw‘rm‘ of 1895, lhe'p-xlc of 1907 6% ButterickCo........ 1 : 4 7 7 9 Interboro Rap Trans the war collapse of 1914; and prosperity Br S A S Intercont] Rubber. followed them all, substantial pros- 17 Calif Packing (2)... Interlake Irol perity. The country’s problems are no % Callahan Zinc & Ld.. In. Agriculture..... ter than they were in 1837 or in 2314 Calumet & Arizona. . Int Bus Machine (né) b3 o 4 Calumet & Hecla. ... Int Carriers,Ltd 60c. T4 Camp W&C Fdy (1). Int Cerpent (4) . ceens 73, probably not as l{he:i. vl i oo o e ik v 17% Canada Dry G A (3).. Int Combustion. 147% Canadian Pacific 1% . vher;l ucurm.;n nudd n{lommodmu] are worth more n dollars, exactly as there are times when dollars are worth 17% Cannon Mills (1.60). more than goods or securities. “We say 6 Capital Admin (A).. that today idle money is worth less than the securities or commodities it will buy, because we believe in the country’s form of government, its bank- ing system, natural resources, its indus- tries, its transportation system, initia- tive and ability of the people, growth of population, and. lastly, because we | believe that the national income of the richest country on earth has not de- clined in anything like the proportion | that prices have declined. “Despite reduced pay rolls and divi- dends, the consumer requirements of the Nation are undiminished. This con- dition must soon assert itsel! through the cessation of hoarding and the re- turn of b:l?em"thb‘:.ym“' o z “We ve that any one with fun available for investment ehould not be 20 Chicago R I&Pacific influenced by low quotations or the fear | 101 50 R1I&Pacpt (7). that prime American securities are un- | 23 Yellow Cab 3). . 5 his tunity. ckasha Cotton Oil safe, This opportunity. He e Combnes: D. C. Property, about the -convenience and advantages offered by our Loan Plan . . . prei d by Washii ton families for over forty years. Open Daily 9 to 5 Saturdays Until Noon NAtional 1381 NATIONAL PERMANENT BUILDING ASSOCIATION 949 NINTH ST., NW. UNDER SUPERVISION OF U.S.TREASURY| [SYUSTHUPIN. [ FEERE el s FIRST MORTGAGES [} EOF YOU ARE DEALING IN SOUND FACTS when you invest your surplus funds [ETPP DTN CPPQR- TE 18- P NS 0 Int Harvester pf (7). Int Hydro E1 A (e2). 5 Int Mateh pf (4).... Nick of Can(40¢) in our _ s, consistent gains.” 23 e 6% FIRST MORTGAGES o -,*| U. S TREASURY BALANCE. , There is nothing intangible about 1% — 14| ‘The United States Treasury balance, s erih o BTN L 8 g Bate Diahy Tt the_r'eturn or the character.of‘ se: Int Printing Ink.... ™ |ness September 25, was $622,965,169.31. p curities which protect the principal. Over o Third We have made conservative ap- Int Rys Cent Am. ... 3% 3% +1% Customs receipts for the month to Int Salt (3).. 6 28'% + % date were $30,049,709.92. Total ordinary of a praisement of the properties upon which these loans are made. i L L3 3 FTrunTane~Nna 14% Caterpillar Trac(3). 4 Celanese Corp.. 14 Celotexpt.... 214 Century Rib Mil 9% Cerro de Pasco (1) 21 Certain-teed Prod... 3% Checker Cab Mrfg. .. 24%; Ches & Ohio (2%)... 21% Chesapeake Corp(3). 3% Chi Great Western. . 16 ChiGreat Westn pf. 8 Chi Mil StP & Pac 4% Chi Mil StP & Pac 15 Chi & Northwe! RSN E FEEEF Int Shoe (3). 441 %, expenditures were $7,631,188.85. Int Stiver. . 24 + % R f e o g o PARIS BOURSE PRICES. Int Dept Stores (2).., 68 57y Inte DSpf(7). 65 —1% ! PARIS, September 28 (#).—Three 1815 10 Intertyps Corp (1).. 10 — % per cent rentes, 85 francs 40 centimes; 80% 37% Johns-Manville (3).. 6 378 -2y | 8 per cent loan, 100 francs 65 centimes. 1234 99 Jones & Laugh pf(7) 1004 - % | Exchange on London, 99 francs 75 e s et 5! % centimes. Tne doilar was quoted at 25 1 Century Without a Loss I Lor-Tery We Make First Frust Loans ON IMPROVED REAL ESTATE IN AMOUNTS OF $5,000 TO $1,000,000 IN THE DISTRICT OF COLUMBIA AND NEARBY MONTGOMERY CO. MD. PERIODS OF 3, 5 or 10 YRS, Prompt Decisions Given Applications 5%% INTEREST BOSS and PHELPS Realtors May be purchased in amounts from $250 up—and upon our Con- venient Partial Payment Plan, if desired. B. F. SAUL CO. National 2100 925 15th St. NN\W. EERES sas City Southn. 3 1% —1% ' fvancs 39 ce, tadt (Rudolph). 1 - % REAL ESTATE LOANS " Made at Low Interest Rates ehould not hesitate to use it 1836 Chryaler Gord 11 Heard in Financial District. 21 Clty TceaFue) (9.00) TYLER & RUTHERFOIED The Advertising Committee of the | 70% City Ice&Fuel pf 6% i | Aspie & District Bankers' Association held a 1 y Stores. Siaie 5 % luncheon meeting at the Raleigh Hotel 11% Clark Equipment(1). this noon for discussion of the various 95 Cluett-Peabdy pf (1) advertising matters confronting the as- 112 Coca-Cola (17%).... soctation. a-Cola (A) (3) Al the local brokerage houses went ! back to standard time today \as day- 53% Lambert Co (8) light saving ended in New York. The il 7 Lane Bryant (1). New k stock market now opens at! - ’ 8- Leh Port Cement ?fl"nnzo:loo:l at ;n the tickers s;mx:( 9114 Col GankEl pf A (6). 831 Leh Port Cmt pf (7). here an hour later than during the 45% Columb Carbon (5).. 314 Lehigh Valley Coal Summer, 81 C “mb(_fl:d.lph 15“00)). ¥ e 8 Comm Credit (1.60).. Frankin Nbfiousl Bank nes resrncd 211 Somal Erod pEB LD 2] Lehn & Fink (3). from a vacation which he passed on 20 SRl TNy Reane ). 52 Liggett & Myers(15) s s G R 9914 Comel Inv Tr pf 6%, 135 TLi88 & Myers pt (1) R I o e of 9% Comel Solvents (1).. 52 Ligg & Myers B (15) 17 vashi Post, i beck in_ thi 4% ComwithaSou (10e)., - 15 Lima Locomot (m2). o Ko g 75 Comwith&Soupt (§) 2 161% Liquid Carbonic (2). financial _district from his vacation, S Sate Maet PN () I8 DA oL hon spent in the city and adjacent territory. 6% Congolm-Nairn (1).. 35 Loew's Inc pf (§14) George L. Starkey, president of the ird e e SR T D e o we 10 37 Loose-Wiles (13) spending a few days in Montreal 3% Congol Film........ $ox Lorritiard (P) Co. 13 now motoring through the Thousand it A b T T e i | 109% 714 Consol Gas N Y (4).. R i e 100~ Consol Gas NY pf(5) N e resume Winter ons on Saturdsys 20 ConsolRwys pf (8).. 28 YN SO oep (3% )- . st the end of this week, Mol 3, 3 MeCrory ®) @)L 1 e ¢ o s brans, - of iy v dviom 10 Metntyre Pore M(1). August net operating income of| 30 . 5% Contl Baking (A). I e ) " % Contl Can (2%)..... eee House s 18% MackTrucks (2).... Y . 62% Macy (RH)& Co(nd). 8% Magma Copper (1). 1% Mallison & Co....... 1214 ManhatEley mod std 14 Maracaibo Ofl Exp. . 14% Marine Midid (1.20), 123 Marlin-Rockwell (2) 2 Marmon Motor Car,. 143 Marshall Pield (2%4) 16% Mathieson Alkill (2) 26% May Dept Strs (23). 56 Maytag Co lstpf ( 2 Mengel Co. .. 22 Met-Gold Pic pf 1. 5% Mid Continent Petm. 9 Midland St 53 Midland Steel pf (8). 1% Minn Moline Pow. 6% Mo Kan & Texhs. ... 2415 Mo Kan & Tex pf (1) 1014 Missour! Pacific..... 29 Missouri Pac pf (5). 16% Monsanto Chem (1% 1134 Montgomery Ward. . 32 Morrell (J) &Co (3). Lt Ll » FEEE + 14| v on well loea for 3. 5 or 10 years, 1520 K St. N.W. ‘destrod, National 0475 5 6% Kreuger & Toll 1.61 = - Pal-P (234). 18 Kroger Grocery (1) Money to Loan Secured by firy of Prevalling Joseph 1. THERE IS NO SUBSTITUTE FOR SAFETY 7th and Indiana Ave. NW. LOANS ON IMPROVED DISTRICT OF COLUMBIA REAL ESTATE SECURITY 66th Serles of Stock Now Open For Subscription James E. Connelly James F. Shea Prestdent Secretary FOUNDED 1907 1417 K. St. N.W. Loan Correspondent John Hancock Mutual Life Insurance Co. ' $400,000,000 for 3 Construction Lowest Rates of Interest and Commission URING thefirst six months of 1931 the docn;:' utili- ‘Thomas J. Fisher & Company, Inc. ties spent. con- ’ 7 struction-more than half the budget for the year. It is of interest to investors because- - 1. Itindicates the, that lies ahead, and the confi- dence utilities have in their Wise Home Financing - When you purchase a home, the proper method of financing it should receive your careful consideration. The Real Estate Loan Plan of the Metropolitan ' Life Insurance Com- pany is' arranged to fit your indi- | vidual needs. 83 AN NAN DS i nnnanneRa BN Faanntan First Mortgage Loans ‘Washington Clearing for today: $3,004,251.53. Equipment Markets Stronger. 42% Corn Proguets ( NEW YORK, September 28 (#).—De- | 1521 140 Corn Prod pf (7) led cond 18 4 Cotylnc..... 20 Cream of Wh 30% Crucible Steel sorsmn~TunBon Loans for Fifteen Years. Low Interest Rates. No Lif’ In'ur.ncg ch“itedo Construction Loans in Any Amoum_ } WEREERS Washington Building Hmlmncoflumy Metropolitan Life Insurance Company Loans made in the District of Columbia and nearby 4 Maryland and Virginia S re 3 = P RN NN~ R SN N eaR MONEY On First Mortgages —For Buying —For Building —For Refinancing Complete Properties No delays are encountered in securing loans on first lxortng at reasonable rates, due to the tremendous resources of this 58 Curtis Publish (4) 100 Curtis Publish pf S sa- RAILROAD EARNINGS. NEW YORK, September 28 (#).— Railroads reporting today net operating income for August, with comparisons with' last year, include: 2. Presentlow costsmake pos- sible substantial savings in construction, % 85 Cushmans pf (3). 121 Cutler Hammer. 5% Davison Chemical & Co pf (1.40). 103500 ssvita| 102 200 DelLack & Wh (3)." 2 Lac Vn (2).. e o g '2221}2 45% 10% Denver & RG W pf.. "627.960 | 195 130% Detroit Edison (3).. 7 14 " 'Diamond Match (1).. 24% Diamond Mteh pf 1% 81 Dome Mines (1)..... 1% DanAllturu‘l%.'M‘b. % Doug Afrcraft(tl 53347 1,003.03¢1 Tew 57 DrusCorp (6)...... Y v 64% Dupont de Nem (4).. 1 ki 40085 37630 | 17 i 116 DuPontde N . 3478 32384 @!” p,.....mm'gufi e e s g “'This coastruction, financed e ties, flects the high favor in which l:xnil! ucu:{l‘u are held. Telephone BOwling Green 9-6o70 Permit, us to furthe wrise for beokles “Bargajns i information nfin’“gmmn; \ :-JA",' on your REAL ESTATE MORTGAGE& GUARANTY General lfibm 1610 l!csg N.W. nm 1408 61 Brosdway,: . New York City Distriot 9436 . PRI [OPY o3