Evening Star Newspaper, September 30, 1931, Page 13

FINANCIAL FINANCIAL. s2x . A=13 BANK CLEARINGS NEW YORK STOCK EXCHANGE }STUGKS IRREGULAR | e e e e G e erest 3 J I Weller g5 esh 1o & Trune Recelved by Private Wire Difect to The Star Office. oseph Erh R 4 NEW YORK, September 30.—Broker- of 209,933 Tetter “s.” | ~1931~ Net. | P y real liquida- e LU, e oot e et b e et | mifh TTow.! - Divisond Rate. | ‘16400, Hish: Tow. ‘Class. Cos: thon, 53;— s to when bottom would | {ATOUREEC (08T ENTERPRISE SERIAL High. Low. Dividend Rate. Add 00.Migh. Low. Close. Chge.| 107 94% Consol Gas NY pf(5)x 7 79% 94 34 s ey Bk 2 s - E: 1 odities. BUILDING ASSOCIATION 3 94 14% 2% Abitibi Pwr & Paper 1 2% 2% 2% — 21 21 rails was viewed as encouraging. 7th and Indiana Ave. NW. 20 ConsolRwys pf (). 2 52 7 Abitibl Pwr&Pappf. 2 7 13 g % £ Shields & Co—There is some bellef C =2 that the steady liquidation will termi- Drop of $4,677,461 Revealed | 3, 24 A2mASe Gruo: 2 o ' : Pivotal Issues Meet Support, it vit, S5t sz sowever. A 3314 e 5% Contl Baking (A) short sliing unpopular, I OANS . be avoided, but without some new| NEW YORK, September 30 (Spe- in Monthly Report of e ' Aav A e H 40" Contl Baking vt (b but Trading Tapers Off powerful bullish stimulus, further drift | cial).—It was pointed out toda: t A inbi 109% 57% Alr Reduction(143%) x 106 328 Contl Can (2 4)... - on Advance GOVEVRS TR TION SRS NI 3 10 19 | EATRRL Sy S S |JON IMPROVED DISTRICT OF ssociation. ;::. :;r‘vk y “Elzc An‘n.lé 5 1 2:» Sont ?lnmonzd‘l;l)bre. i expected. fi:z'«':n::hh :flh-mb\ln'l"mnntk?-n COLUMBSIQCE“E“AIII_.YESTATE 23 laska Juneau e ‘ont Insur (2. _—— - ¥ —_— Charles D. Barney & Co.—A great| servers comment that to assume that T Albany Wrap Pape; 1% Contl Motors. S le, according to our observa- BY EDWARD C. STONE. 13?- 2 :”:né-y Ccrzpd :u. :jom} g;l (Del) BY GEORGE T. HUGHES. mr:l'!mMPm' 1 e {aan.lon of being fincgnbl:tl :\‘m .l:heamt - “u:re still too high 66th s"r: ;ln bs.:o;‘;: t:n w ank: ‘oliatn RN IEOn 8 594 % Cp pf $30 ww. . y ‘ontl Shares. ... Special Dispateh to The Star. convinced that stocks generally are|to the equities of American stocks in an! learings ‘ashington 59 Alleg Cp pf w $40 w. A 411, Cora Products (3)... NEW YORK, September 30.— Still |close to bargain levels, but are afraid to | five years of the test earning power James E. Connelly James F. Shea Beptember totaled $93,201460.62, In | 46 Allegnung Steel S0, x1008 138 ShenEradpt i) nervous and unsettled and recording | buy because of fear of some mysterious, | they have enjoyed in their history. President Secretary comparison with $97,868,931 in Septem- | 152 « Allied ChaDyete) 4 121 20 Cream of Wheat 12% many new lows in industrials and utill- | WNKBOWR, catastrophe Ly thy ber, 1930, & decrcase of $4,577.461.38, 42 Allis Chalmers (2) 7 15% 31 Croslev Radio. . % ties, the stock market today was alded | cevelopment, either good or bad, under | fi i B 22 oy = it s ASSOEID S RN Ity DO TR0 [0 et o R S ;‘81 gmw“ C r; '2{:: 70) ';‘ by ,'-he outstanding strength in the | these ‘c‘lrcumlunca could precipitate a rown Cork pf (2. " rallroad shares in putting up & better | P1Ying movement of substantial propor Am Agri Chem (Del) 2 4 7 this noon by the Washington Clearing . Am Bank Note'(13).. 8 2 41 G WP 1st pf(4) 10 House Assoclation. The decrease is, A 4 it FHid H however, much smaller proportionately than in August, when clearings were around $7,000,000 lower than in the same | period in'the previous year. | Bankers sald today that there ap-| peared to be quite an improvement in business conditions in Washington in the past few days. The fact that local clearings made a better showing in Sep- tember than in August may prove significant and mean a gain during the rest of the year. Washington banks cleared $89,484,710.06 in checks in August. The records of the Clearing House show that local clearings in the peak year of 1929 totaled $114,986,938.61 and in 1928 was $113,117,412.52, while in 1927 canceled checks in September amounted to $104,579,350.73 and in 1926 reached the sum of $105,608,791.27. ‘Washington .clearings in the first nine months of the present year totaled $933,457,444.79, against $979,919,220.93 in the corresponding period a year agd. ‘The National Capital is no exception to the rule of decreases, as practically every clt{ in the United States has reported lower bank clearings than in the like months last year. For purposes of comparison local Am Beet Sugar pf. .. Am Brake Shoe(2.40. 4 Am Can Co (15) . Am Co of (7). Am Car & Fdry (1).. 1 Am Car & Fdy pf (7) 190 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 Pwr pf Am & For Pwr pf(7). Am & For Pwr 2d pf. 45% Am Home Prod 4.20.. 12 AmTce (2 - Am International 9% Am Locomotive (1). 64 Am Lo'motive pf (7) 17! Am Mch & Fdy 1.40.. Am Mach & Metals Am Metal Co.... tural Gas pf Am News (+3%). Am Pwr & Lt (11)... Am Pwr & Lt of (6). Am P&Lt pf A st(5). 6 23 Am Brake Sh pf (7). 10e 105% 2 2 Crown Zellerback. .. 2 284 Crucible Steel...... 9 58 Crucible Steel pf (7) 50s 14 Cuba Cane Products. 2 Cuba Co .. 2(4 Cuban-Am Sugar 35% Cudahy Packing (4). Curtis Publish (4).. 100 Curtis Publish pf (7) 1% Curtiss Wright...... 213 Curtls Wright (A). 1244 Cutler Hammer. 4% Davison Chemical. Delaware & Hud (9), De] Lack & Wn (2).. Detroit Edison (8)., Diamond Mateh (1).. Diamond Mtch pf 1% Dome Mines (1)....x Domn Stores (1.20).. Doug Alreraft(t1%) Drug Corp.(4). Duplan Silk (1) Dupont de Nem (4) Du Pont de N pf(6) 6 Durham Hosiery pf. 4Cs ern Roll Mills. . 2 stman Kodak (18) 92 stman Kod pf (6). 440s on Axle & Spr(1). 12 Eltington-Schild. ... Eitington-Schild pf., fl?ht than on Tuesday against the flood of liquidation. ‘The market opened irregularly, rallied in the first hour, met heavy selling and reacted, and then before noon rallied again and around midday was selling higher on the session. Rail Shares. The railway shares were the main- stay of the market. They held when other stocks were declining, and in the intervals of rallying they pushed ahead rather aggressively. The Street heard a story that the principals in the Eastern consolidation situation had composed their differencés and that the merger plan would receive unani- granting a rate increase. New York Central and Baltimore & Ohio were the leaders on the advance, but all of the active rails p: ipated llh Atllntk:d Coast, low groun fraction early In the day. New I\'"nn.: Central was bought on the theory that it would benefit from the negotiations now in progress among the railway Redmond & Co.—The market appears to be working toward a selling climax, which should be followed by a sharp rally, but we still adhere to the opinion that any rallies at this time can only be regarded as technical. Hornblower & Weeks—Because both the industrials and utilities are in new low ground, there is no speculative way of mating at what levels resistance may be expected, and we would prefer to continue on the sidelines rather than hazard a premature trading commit- ment. Jackson Bros., Boesel road stocks in yesterday's market and for the fifth consecutive session the rails refused to follow the industrials into new low ground. E. F. Hutton & Co—It is impossible to say when a bottom will be estab- lished. one has been established it will be quite ible to judge how secure it is. We belleve a great deal of wise accumulation is taking place in bonds and stocks. " Equiae o-Operative Bldg. Ass’n Organized 1879 JOHN JOY EDSON, President 5ist YEAR COMPLETED WALTER S. PRATT, Jr., Secretary .| Subscription for the 101st Issue of Stock Being Received Consult Us if You Want a Loan on Real Estate or to Take Up a First Mortgage Those who desire to borrow money to pur- chase a home, refinance present indebtedness or improve property should see us. Applications will receive prompt and courteous attention. Loans Repayable Monthly No Brokerage . . . No Commissions 915 F ST. N.W. executives, and Baltimore & Ohio wi rails girong in anticlpation of today's ac-| Paine Webber & Co.—Ability of tion on the dividend. Two to three |to hold is the most favorable techni- point advances were scored by Atchi- | cal aspect of the market at pri lnsn'. oo son, Union Pacific, Delaware & Hudson | long as they meet stubborn resistance | and New Haven, in, Dresent Ao ADend uttities there | B industrials and u 4 T l'ld;:&poe'cz of an early turn-about. But DIVIDENDS DECLARED |if weakness should develop in rails | another let-down in the whole market Eng P S pf ww (5%). would seem likely. Equit Office Bldg 2% " ¢| NEW YORK, September 30 (#).— — i Erle RR. . ] A nate F&, Pay. Hidrsor | Stein Alstrin & Co—It is almost out || : i Erie RR 15t pf (1) .. 4 te riod. “able. “record. | of reason to belleve that this market || There is no investment more 4 Am Radiator (60¢).. Am Republics. Elec Auto Lite (4)... Elec Auto-Lite pf( Electric Boa Elec&Musical ec Pwr & Lt (1)... Slec Pwr & Lt pf(6). Elec Pwr & Lt pf (7) Elec Storage Bat (4). Endicott-Johnson (3) Eng Pub Sve (1.60).. clearings so far in 1931 are compared with the corresponding months of 1930: SAFE FIRST MORTGAGES 1931, 1930. $109.764.614 $118,219,264 443, 113, 113,382,805 118,036,652 I0% AN Rmelt R s 102,346,949 113,055,087 e 115,114,393 116,280,346 gy ANSuUT (130, 100.837.167 109,420,638 102% Am Snuff pf (6). 80486710 9087443 | 4% % AmBolva Chemiesl. 1 Am Solv & Chem pf.. 93,291,489 . 97,808,931 8% Am Steel Found (1).. Local Board Rooms Crowded. % 37 Am Stores (123) A SAFE ANCHOR YLocal brokerage officers were jammed again today at the opeaing of the New York stock market. eVsterday's severe declines tended to intensify interest in the next movement in stocks. 40 Am Sugar Ref (5). 96 Am Sugar Ref pf (1) 5% Am Sumatra Tob.... 120% Am Tel & Telex (9).. 82 Am Tobacco (16) 12% 3'4 Eureka Vac Cleaner. T29% 5 Fairbanks-Mor: 6y 497 94 215 Fashion Park Asso 29% Fed LE & Tr (11%). . 48 Fed Mine&Smeltg pf. American Can o1 San Prancisco Bi I Oet. b Jamison Coal Premier Shrs fnc sell v much lower in view of The. 'Zmu liquidation that has the tremen taken place in the past two years. Lo stable in character than first mort- gages, secured as ours are by con- servatively appraised improved Pipe Contract Awarded. i Washington real estate. These NEW YORK, September 30 (A).— United States Pipe & Foundry Co. has been awarded a contract for 32,000 tons of 36-inch pipe by Lincoln, Nebr. —— 85 Am Tobacco B (¢ 4 7% 3% Fed Mot Truck(40c) Just completed a survey of the earnings D o e (o q 8 1615 2% Federal Screw W and market prices of 250 stocks. Of 25% Am Water Wka (3) ;=3 30 11 Fed Wat Svc A(1.20)— these issues 184, or 73.9 per cent, sold on B e e en X 274 13 Fed Dept Strs (2c). Am Potash & Ch.. September 21 st less than 10 times % A1 Woolen'Ce. 66% 28% Fid Ph Fire In(2.60), 22 Champion Shoe Mach average earnings for the past seven 200 Ath Woolen 08 BE, . . 104 85% Filene's Sons pf 6%.. 1208 Saranac Riv B, il yors, according to & study of normal % Am Writ Paper ctfs 1 211 13 FirestoneT& R (1), 9 Do bt ... 3145 o July earnings and equities versus market N ; 6614 55, Firestone T&R pf(6) 28 Recular. i First Mortgage Loans prices prepared by the Ontario Finance 26 ¥ 63 41 First NatlStrs (23%) 11 § Allied Chem & D..$1.50 @ Corporation. The tabulation in the sur- % 15 AnhcondaiORONS. %4 Fisk Rubber. 4 Amn Can " 3 vey shows further that 101, or 40.6 per by 5 rmmr il 10214 96% Florshelms pf (6). Baker §%)° cent, sold at less than five times average 8 Archer Danfel Mid. 0414 12% Foster Wheeler (1).. % Do emmings. for the same period; &3, or e 324 18 Fourth Nat Inv mb5e 17.3 per cent, at less than three times, 25 Armour of Del pf (1) 38% 71 Fox Film (A) (2%}, and 20, or 8 per cent, at less than two 1% Armour of Il (A). 75 87 Franklin Smn pf(7). times average earnings for the past % Armour of Il (B). _43% 17 _Freeport-Tex (3) seven years. Moreover, it is seen that 7 Armourof Ill pf. 6% 1'% Gabriel Co (A 178, or 71.5 per cent, sold at less than 3% Arnold Constable. . 60 25 Gamewell Co (3 »t book value. J 4 Associated Apparel 14 Gardner Motor. Byiroie b “At a time like the present, when pes- 10 AssoDry G (2%).. Poll By £P5) simism is being carried to even greater 55% Gen Am Inv pf (6). .. Do 36 pt extrames than was optimism in 1929, it 44% Gen Am Tank Car(4) i is_advisable to consider the situation 65 Atl Coast Line (7). 9% Gen Asphalt (2). , Piat Beatiie” Doz zalmly and intelligently and consider the 10% Atlantic Refining ( 5 15% Gen Baking (2) H Bk ... actual facts and values instead of being | 54 247 Aflas Powder (4) 2 y 98 Gen Baking pf (8). frsrat iy carried away by mob psychology,” the| 997 -81! Atlas Powder pf (6). 1408 Gen Bronz - TR review states. “It should be real-| 205% 95 Auburn Auto (f4). 124 102 3% Gen Cable..., Do pt 2 iz3d that it might not be good judgment | 2% % Austin Nichol, 1 % 3 8 Gen Cable (A). . fag & & to base security values upon current| 25 1 Autosales, X 27 Gen Cigar (4) 2 ercantiie 11 By earnings besause current earnings are| 5 1% Autosales pf. 208 1% 27% Gen Electric (1.60) Nemsaetls, 1oy 3::1 é\o‘gml. Aven\g]e| eanings Ia{ a| 6% 2% Aviation Corp (Del 18 2% ::w gon Elec spec (60¢) . New Beaidra’ Gas od ‘of years as well as asset values| 57777 Baldwin Locomotive” < ' 8 ; 14 Gen Food Corp (3). . v | VN g should be consideed in relation to mar- 4 24 Gen Gas&El A(e30c) eacife Fric ket prices.” ey 25 Gen Gas&E cv pt(8) Do pt .. Reserve Bank Investment Trend. 450, Dalto & ontarwt ()4 B e ne A The Federal Reserve Board has just A Db pENE: h ‘The Ontario Finance Corporation has Holland Land .. 6% FIRST MORTGAGES 000 : Over a Third 5. :3 Lowest Rates of Interest and Commission | [ ofa 518 | Thomas J. Fisher & Company, Inc. | | Century | Without a of ours provides a dependable anchor financial vicissitude. ERNSY-IeTers o REAI. ATES May be purchased in amounts Made at Low Interest Rates Loss from $250.up — and upon our con- TYLER & RUTHERFO venient Partial Payment Plan if you It on “ invited 1 tions * Iavited wish. = B #. Skl _CO. 1520 R SUNW. National 2100 925 15th St. NNW. S ate 105 Atch To&S Fe (10) SEENGE 8 SEsM.nhENg First Mortgage Securities SAFE ... PROFITABLE 5 THERE IS NO SUBSTITUTE FOR SAFETY 23% Gen Motors (3 b 3 e Eub}uhcfl a comparison of investment oldings among the Reserve banks at the end of June, 1931, against the fig- ures in June, 1929. Member bank investments increased during the two years by $2,060,000,000, reflecting increases of about $1,190,- 000,000 in United States Government securities, $860,000,000 in other domes- tic securities and $7,000,000 in foreign securities. The classes of securitles to show a decrease for the two-year period were industrial bonds, which declined by $51,000,007; miscellaneous securities, which declined from $90,000,000 to $43,- 000,000, and foreign securities other than Government bonds, which de- clined by $3,000,000 to the level of ‘3%000.000. e e progofuon of total member bank investment represented by United States Government securities increased from 38.9 per cent in 1929 to 44.1 per cent in 1931; that of State, county and municipal bonds from 11.8 per cent to 12.7 per cent, and that of corporation notes from 1.7 per cent to 1.9 per cent, the report says. Federal Storage Dividend. ‘The board of directors of the Federal Storage Co. has declared the regular quarterly dividend of $2 a share on the preferred stock, President E. K. Morris announces. ‘The disbursement is p able October 15 to shareholders of rec- ord Septembe. 30, During last week prices for 31 com- modities showed losses, while the prices for 18 commodities moved upward. Among the commodities declining were cotton, cotton sheeting, burlap, hemp, lard, cottonseed oil, creamery butter, dried beans, corn, wheat, hogs, tin, yosin, gasoline, coffee, rubber and leather. Important commodities that advanced were s, apples, raw! sugar, oats, cattle, , canned to- matoes, canned peas, beef and standard grade of butter. i Attend Insurance Meeting. Eugene G. Adams, president of John- son & Adams, Southeastern managers of the Continental Casualty Co. and Continental Assurance Co., left Wash- ington today to attend the annual com- pany convention at Chicago. He was 26 Barker Bropf (§4) 708 5 Barnsdall Corp'n. 21% Bayuk Clgar (3). x 74% Bayuk Cig 1st pf (7) x 10s 397 Beatrice Cream (4) 14 96 Beatrice Crm pf(7) 2 1% Belding-Hemingway 34 14 Bendix Aviation (1). 1:3 28 Best&Co(2).. 28% Bethlehem Steel (2 87 Bethlehem Stl pf (7) 8 Blaw-Knox (1). 63 Blumenthal pf ( 20% Bohn Alumn (1%)... 214 Booth Fish 1st pf 41 Borden Co (k3) 11% Borg Warner (1) 8% Briggs Mfg (11%) 8 Briggs&Stratton(2). 37 Bklyn-Man Tran (4). 74 Bklyn-Man Tr pf (6) 51% Bklyn&Queens pf(5) 83 Bklyn Union Gas (5) 82% Brown Sho’;l).. . 5% Bucyrus-Erle. 8 Bucyrus 86 Bucyrus pf (1). 214 Budd (E G) Mf; 4% Budd Whe: 4% Bullard Co. 5% Bulova Wateh (80c). 11% Burrough A M(11%) 16% Bush Terminal(23%). Copper & Zinc. 14% g (2). % Callahan Zinc & Ld 23% Calumet & Arizona. 4 Calumet & Hecla 7% Camp W&C Fdy (1).. 15 Canada Dry G A (3).. 14% Canadian Pacific 1%. 17% Cannon Mills (1.60). 6 Capital Admin (A) 38% Case (J 1) Co I 53 Case (J 1) pf (7) 13% Caterpillar Trac(3), 1% Cavanaugh-Dobb: Celanese Corp. Celotex Co. Celotex vie ctfs Celotex pt. Cent Aguirr: Cent RRof NJ (8).. 89 Gen Motors pf (5). Tol ldhcg % b Do 6% 8% Gen Outdoor Adv.... 6% Gen Outdoor Adv(A) 12% Gen Prig Ink (2%).. 43% Gen Prtg Ink pf (6) 4% Gen Public Service. . T 16 9% 42% 117% 20% b2% 91 13% 72 T3 615 22% 26% 18% 46 20% 42 69% 23% 11% 96% 61 121 37, 29 Gen Ry Signal (5). 1% Gen Realty & Util 22% Gen Realty & Util pf. 18 Gen Refractories (3) 10 Gillette Saf Raszor, 3% Gimbel Bros. 4 Gobel (Ad 18% Gold Dust (2% 104~ Gold Dust pt (6). 6% Goodrich (B F) 23 Goodyear T & R (3). 62% Goodyear 1st pf (7).. 4% Gotham Silk Hoslery 50 Gotham S Hpf (7)., 50 Gotham pfxw (7). 1% Graham-Paige. .. 7% Granby Con Min (1), 4% Grand Si1 Strs (h1)., 9% Grand (Tnion..... 34 Grand Union pf (3).. 16% Granite City Steel(2) 25% Grant (WT) (1). 25 Great Northn pf(4). 13% Great Northn Ore(2) 6 Great Western 8ug.. 15 80% Great Wn Sug pt (7) x150s 1% Grigsby Grunow.... 35 3 Guantanamo Sug pf. 50s 7 7801 26 Hackensack W (1%) 9% 637 19% 94 8 136 58 1194 103% 104 814 37 19% 3 Hahn Dept Stores. 3215 Hahn Dpt St pf( 11 Hall (WF) (1.20) 7% Hanna pf (7). “oe 2214 Harb & Walker (1).. 15 Hawalilan Pineap (2) 1t Hayes Body Corp. .. 134 Helme (GW) pt (1) 37 Hercules Powder(3). 110 Hercules Pow pf (7) 75 ~ Hershey Choc (5)... 85 Hershey Choc pf (15) Hoe (R) &Co0....... Holland Furn (12%) 5% Hollander Sons. . Homestake Min (18); 314 Houdaille Hershe, 52y Household Fin (4.20)x 23% Ho otl. s vossE ¥ 8 7 14 ) D D D 0 KEEE000OOD0 O DOOOO000 © (00000000 POPHOD LR INVESTMENT TRUSTS NEW YORK, September 30 Lo Over-the-counter market: » Bid. Asked. T Chain & Gen Equities. Chain s bl Ghatn S0 rivest. .o Ghai ol rum & .: '} 4 & Bebos B AR ¥°L Depos Bk Sh'N Y “A" G Depos Ins Shrs A. Diversified Tr A Divy Di LSEBER. SEESNEE £ Equity Invest . Equity Invest pf Equity Trust Sponsored by this corporation effering - —— & steady yield of These nog-fluctusting _invest are “sccured on”income-prody rrflv.flltl here in the Nat al. Put your idie dollars to w earning 6% with . Denomina low as $100 Jonthly Payments {f Desired Send for Booklet, “The Success Plan” REAL ESTATE MORTGAGE & GUARANTY CORPORATION 1610 K St. N.W. National 1403 For Re-Finaneing .. Building or Buying D. C. Property No Renewals Ne Commi Ask about the many advan- tages and additional conven- iences “offered by our Loan n. . . . Open Daily 9 to § Saturdays Until Noon NAtional 1381 | [PERMANENT 949 NINTH ST., NW. UNDER SUPERVISION OF U.S TREASUS The Metropolitan Life Insur- ance Ccmpany Real Estate Loan Plan enables the home owner to make small periodic payments for a period of fifteen years with the privilege of prepayment on ue dates after three years. Consider the advantages of this plan and give us an oppor- tunity to discuss other important features with you. Construction Loans in Any Amount WEEREROS Washington Building District 9486 Mortgage Loan Correspondent Metropolitan Life Insurance Company Loans made In the District of Columbia and nearby Maryland and Virginia amouBemmmwa accompanied by George L. Haines, J. H. | Century Rib M pf(7) Ledger and F. B. Biggs of the local| 30% 9% Cerrode Pi agency. 74 2% Certain- % Huds %) Mr. Adams reports that the new life| 231 3% Checker Cab Mrfg. .. 8% Hudson Motor (1). insurance issued to agencles reporting 24% Ches & Ohio (2%)... 4 _Hupp Motor: | ] I | | | | | | | | | | | | 1 | | | | | | | | | 1 | | | | | | -+ L dERE D to) Incorp Invest Independ_ Tr 'sh nf ) to his office for the first nine months| of 1931 is substantially ahead in vol-{ ume for the same period last year. Lecal Bonds Market Leaders. Local bords were the leaders on the ‘Washington Stock Exchange today in trading of moderate proportions. Po- tomac Electric Power 6s sold at 1073, Potomac Electric Power consolidated 5s came out at 103}2, Washington Gas 6s, series A, moved at 101'; and Gas 6s, series B, at 105. The largest trading ‘was in Washington Railway & Electric 4s at 91%. In the stock division Potomac Elec- tric Power 5'% per cent preferred reg- istered 107, Second National Bank stock changed hands at 166, Lanston Mono- type came out at 7414 and Mergen- thaler Linotype sold ex-dividend at 69, A large number of bank and other dividends are payable tomorrow, this being the last dey they will be quoted ex-dividend. Members of the exchange are greatly pleased over the way prices have held up on local issues, the show- ing vastly better than that of New York and other big exchanges of the country. Wa. on clearing house figures for today, §3,636,334.97. Steel Scrap Prices. NEW YORK, September 30 (#).— ‘The Iron Age composite price for heavy steel serap has drépped from $9.17 to 89 a gross ton. This is the lowest level 21 Chesapeake Corp(3), 3% Chi Great Western. 15 Chi Great Westn pf., 2% Chi Mil StP & Pac... 4% Chi Mil StP & Pac pf. 15 Chi & Northwest (4). 4 Chi Pneu Tool. 14% Chi Pneu Tool pf.... 20 Chicago R 1&Pacific. 44 ChiRI1& Pacpf (6). 60 ChiRI& Pacpf (7). 8 Chi Yellow Cab (3) 9% Chickasha Cotton Ol City Ice&Fuel (3.6 66% City Ice&Fuel pf 6% 7 Clty Stores (A)..... 11% Clark Equipment(1). 99 Coca-Cola (17%).... 50% Coca-Cola (A) (3)... 28 Colgate-Pal-P (234). 8 Collins & Alkman. . 73 Colonial Beacon. 8% Colo Fuel & Iron. ... 40 Colo Fuel & Ir pf (8) 16% Col Gas&Elec (2)... 87% Col Gas&El pf A (6). 314 Columb Graph (56c). 40 Columb Carbon (5) . 8 Comm Credit (1.60) 20 Comel Credit A (3). 18 Comel Cred pf B (2) 154 Comel Inv Trust (2). 75 Comm Invevpf(es), 9% Comel Solvents (1).. 4% Comwith&Sou (40c). 72% Comwith&Sou pf (§) 251 Cande Nast Pub (2).. 6% Congolm-Nairn (1).. 71 Congress Cigar (1).. 26 Illinois Central (4) 1% Indian Motor Cycle Indian Refining Indust Rayon o » 3 AR NTNANBEN NS NNBE SN Inland Steel (2% Inspiration Coppes ranshares Del A. interboro Rap Trans Intercontl Rubber, .. Interlake Iron. In. Agriculture. .. Int Agriculture pf... Int Bus Machine(né) Int Carriers,Ltd 60c. Int Cerpent (4) . Int Combustion Int Harvester (2%). Int Harvester pf (7). Int Hydro El A (2, Int Match pf (4) (nt Merchant Marine. Int Nick ot Can(40¢). 92 Int Nick Can pf (7).. 101 Int Paper pf........ 2 Int Paper & Pwr (A) % Int Paper & Pwr (B) 1 IntPaper & PwrC... 27 IntSalt(3).. . 42 IntShoe (3). 18 IntSilver. . 15% Int Tel & Tel (1) 11 It Dept Stores (2).. 574 Interstate DS pf(7). 58 Interst DS pfxw(1). 9 Intertype Corp (1) 214 Investors Equity. .., 1915 Island Creek Coal(4) o e Major Corp Shi Mass Invest Tr o Natl Indust Natl 11 Shrs e A S g.?...{ rernesuldS ves : pyagasafen s amswannsd EIET RS, We Make First Trust Loans ON IMPROVED REAL ESTATE IN AMOUNTS OF $5,000 $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 g g Clip This Ad Now and Mail to Crandall Theaters Corporation 801 Earle Building, Washington, D. C. HARRY M. CRANDALL, President for information regarding the purchase of stock in its new proposed chain of Talking Motion Picture Houses— A Washington Owned and Operated Enterprise Organized Under the Laws of the State of Delaware AUTHORIZED CAPITAL ) 40,000 Shares 7% Cumulative Preferred Stock, Par Value, $20.00 ; 40,000 Shares Common Stock, No Par Value The Preferred Stock Is Redeemable on and After December 31, 1932, at $22.00 Per Share ‘Telephone NAtional 9781 a0 wSwaon & in the century, reached only once be- fore—in mid-Novenber, 1914. The TRPR W% t. 3 Loan Corr dent John H?!_ncocmmd Life | ance Co, 8% 5% 20 Consol Clgars (5)... 3 2% te prices for pig iron and fin- 53 Consol Cgr pr pf 6% 120 80% 37 Johns-Manvilie (3). 15 5 -2 26 41% 37 37 steel are unchanged at $1542 a 3% Consol Film. 5% + %1 128% 99 Jones& Laugh pf(7) 40s 101 1004 100% — % 20 53 % n,and 3116 cents & DouRd, Tnece 8 LSRRI wl i ok o w0 Ve ot il 8 e ———— B i o e