Evening Star Newspaper, October 9, 1931, Page 13

FINANCIAL, BANKERS' MEETING DECLARED SUCCESS . District Delegates Return { From Annual Convention at Atlantic City. BY EDWARD C. STONE. Most of the Washington bankers who attended the Atlantic City Convention of the American Bankers' Association were back at their desks today, all being most enthusiastic over the vari- ous business session: Robert V. Fleming, president of the Riggs National Bank, declared the con- vention was one of the most har- monious the association ever held He said the sessions were entirely free from all factional or other dis- putes such as have often cropped out at other similar sessions in the past As a special illustration of this, Mr. Fleming said there were no heated dis- cussions over unit nking as against branch banking. a subject which has stirred such live contro At the Atlantic City s ferences of opinion apd banks from cour put a solid 1rc single idea of help ness and banking conditions. ons all dif- ubordinated rts of the t with the prove busi- Hoover Plan Approved. Mr. Fleming aid the convention was quick to approve in princi of President Hoover for s the business banking structure of the country. The resolution adopted by the convention made the views of the bankers very clear on that important subject. The tion of the Hoo- ver plan stir the | convention and 1 sy- | 1 eftect i which legates at assumed over the general outlook The Washington bankers present in- cluded, in addition to Mr. Fleming, Francis G. Addison, Wade H. Cooper, Joshua Evens Avon M. Nevius, M. F. Calnan and Mountioy, Wash- ington representative of the American Bankers' Association Mr. Addison represented the District Bankers' Association as a member of | the Executive Council, as he is now serving a three-year term. During the past year Mr. Fleming has been on geveral important special committees. once Several Committee Assignments. | ‘The new president. Harry J. Haas of | Philadelphia, appointed Mr. - Fleming | chairman of the Legislative Committce | for the coming year, and also chairman | of the Federal Legislative Council. The council has one member from each State while the Legislative committee is the working body: Mr. Fleming was member-at-large of council for the coming year. and is| already serving the associatio member of of the executive com of the National Bank Division senting_the fifth Federal Rese trict. His term expires in 1933 Mr. Addison, who is not yet back in the city, was given an important com- mittee assignment in addition to his duties on the council. A. & P. Sales Reported. Dollar sales of the Great Atlantic & Pacific Tea Co. for the four wecks ended September 26, showed a de- crease of 3 per cent. In the same period, however, tonnage sales showed | an increase of 11.4 per cent, as com- pared with last vear. | Dollar sales for the p-riod totaled $74.641,542, against $77.019.441 for the like period of 1930. Tonnage sales amounted to 411883 tons, against 369,673 last_vear. For the 30 weeks ended September 26, dollar sales aggregated $596,255,- 962, a decrease of 2.2 per cent from £600.817.691 for the corresponding period last year. Tonnage sales to- taled 3.232.019 tons. an_increase of 123 per cent over 2,876.933. Bank Elects New Cashier. Directors of the North Capitol Sav- ings Bank have elected A. L. Phillips cashier in place of P. Henry Coates, Who has resigned. The present officers of the North Capitol Savings Bank are John A Eckert, president; Joscph A. Herbert, sr., vice president; E. S. Burgess, secretary, | and F. P. Williams, controller. The new cashier has been with the bank some time and has had broad experience in his chosen profession. Trading on D. C. Exchange. Capital Traction opened trading on the Washington Stock Exchange today with 15 shares selling at 25%. up 'a from yesterday. Potomac Electric Power 6 per cent preferred came out at 107 and the 51, per cent stock moved at 106 Lan, day’s pr Wi d_mov in_Columb! was recorded at 7 The day’s only bond sale was $2.000 | Potomac _Electric Consclidated 85 at 101%,. Capital Traction closed as well as opened the market. ecight shares selling at 25'> and a block of 200 shares changing hands at 2514, This was the < in a long time. | also appointed a| the executive | on Mcnotype was firm at yester- of 703, and 10 and 5 share ington Railway & Electric 9 A 58-share Title Insurance Co. sain, The Acacia Mutual Life, with $1,250.- ss for the week ending Oc- ding to President Wil- ltam Mo <howing a steady gain_in week-by-week business which s been in evidence for the past sev- months. At the present time, ac- ing to President Montgomery, volume s a rate which 1y level set dur- ing the period of great national eco- nomic development. He said yesterday: “On the basis of present new business written, and the steady decline in of lapses, we believe that an and confident outlook s | ‘Washington Clearing House figures for today: $3,867.398. PARIS BOURSE PRICES. PARIS. October 9 (/P).—Three per cent rentes, 84 francs 10 centimes: 5 | cent loan, 101 francs 30° centimes. Exchange on London, 97 francs 75 cen- times. The dollar ‘was quoted at 25, francs 39 centimes. DIVIDENDS DECLARED NEW YORK, October 9 (#)— Liauidating. Pe- Rate. riod. 30c Omitted. Aliiance Inc (Phil) $2 Hudson Ins (N.Y) 35 Pav- able ot 8 Hldrs. of record. | Compan. Bristol Mig Due Oct Due Oct Due Oct Due Sep. Due Oct Due Nov. Tennessec Western N Union 7% bf o 00 owm .76 Regular. P41 @ Nov. ; Oct Nov, Oct. Adani-Millis 1st 5 1 Co Ltd pf 37':¢ (NY).$2 B cOX Co Ltd Amer Dep Rec Ord Reg.. Do: |Ord Reg Bajabhn & Katz. Do, pf + Term s162 o e Elm Will ‘RR.? Lone Star Gas pf $1 Met Industries ctfs.73 Monro Calculating Ma (Orange. NJ) Do. pf, $1.75 ‘Nashua & Loweil RR Nettleton (A E) pf Pack Mach 1st pf Randall Co A... Seattle Gas Co pf.% 1 1 1 15 <58 & B8 sane The Fair pf (Chi) $173 Utica G & E $6 pf $1.50 Utility & Indus C, Whash Loan & TH W YA D Ol v_Penn El 7% pf.31.75 Do. 67 PI.......FL50 e 000 © ©000DOMOD DPWD OD:: Stocks sold in 100-share lots except those designated by letter “s.” ~—1991— . High 14% 52 2314 331y 231y 11% 109% 2018 12% 12 12 D, C. . FRIDAY, - NEW YORK STOCK EXCHANGE Recelved by Privale Wire Direct to The Star’ Office. Stock and low. ' Dividend Rate, 214 Abitibl Pwr & Paper. 5 Abitibi Pwr&Pap pf. 7 Adams Express (1).. 2214 Adams Mills (2).... 10 Addressograph (1).. 2 AdvRumley........ 4 Alr Reduction(t4%). 85 Alaska Juneau (40c) x 40 Allegany Corp...... 139 Alleg Cppf 330 ww.. 5 Alleg Cppf w 340 w 5 Alleg Cppfx 830 w., 4 Allied Ch&Dye (n6) .x 232 Allied Ch&Dye pf(7) 2 Allis-Chalmers (1).. 25 Alpha Port Cemt (1) Amal Leather. . ‘Amal Leather p! Amerada Corp (2)... Am Agri Chem(Del). Am Bank Note (13).. Am Beet Sugar...... Am Beet Sugar pf... Am Brake Shoe(2.40. Am Can Co (15)..... Am Car & Fdry (1).. Am Car & Fdy pf (1) Am Chicle (13) Am Colortype. .. Am Comel Alcohol. .. Am European Secur. Am & For Power.... Am & For Pwr pf(6). Am & For Pwr pf(7). Am & For Pwr 2d pf. Am Haw SUship (1). Am Hide & Leath pt. Am Iome Prod 4.20.. AmTce (2)... Am International. Am Locomotive (1).. ‘Am Lo'motive pt (7) Am Mch & Fdy 1.40.. Am Mach & Metals. . Am Metal Co. coes 2% Am Natural Gas pf.. 5 Am News (13%).... % Am Pwr & Lt (11)... Am Pwr & Lt of (6) Am Radiator (60¢).. Am Radiator pt (7) Am Republics. Am Rolling Mil 5 Am Safety Razor (5) Am Ship & Com. ... Am Smitz&Ref (113) Am Sm&R 2d pf(6).. Am Snuff (13%).... Am Solv & Chemical. ‘Am Solv & Chem pf. Am Steel Found (1) Am Stores (12%).... Am Sugar Ref (5)... Am Tel & Telex (9).. Am Tobacco (16). Am Tobacco B (16). Am Tobacco pf (8).. Am Type Fdy (8)... Am Water Wks (3). x 29 Am Wat Wksefs(3) x 8 Am Wat Wistpf(6) 1 Am Woolen Co...... 10 Am Woolen Copf... 50 Am Writ Paper ctfs, Am Zine & Lead. Anaconda Copper. Anchor Cap (2.40) Archer Daniel Mid. . Armour of Del of (1) Armour of Tl (A)... Armour of 111 (B). Armour of 111 pf. Arnold Constable. Art Metal (80c). Associated Apparel . Associated Dry G(1) Atch To&S Fe (10). . Atch To&S Fe pf (5). Atl Coast Line (7) Atl Gulf& W At Guif&W 1pf (3). Atlantic Refining (1) Atlas Powder (4)... Atlas Tack..... Auburn Auto (£4)... 5 Austin Nichols 5 Austin Nich pf A (3) 2508 Aviation Corp (Del) 4 aldwin Locomott 44 Baldwin Loco pf (7). 308 Balto & Ohio 4). x 396 Balto & Ohio pf (4). x 6 Bamberger pf (633). 208 Bang & Aroos (3%3).. 8 Bang & Aroos pf (7). 108 Barker Bros. .. 1008 Barker Bros pf (6%3) 10s Barnet Leather..... 1 Barnsdall Corp'n.... 41 Bayuk Cigar (3).... Beatrice Cream (4).. Beatrice Crm pf(7).. Beech-Nut PKg (3).. Belding-Hemingway. Belg N R pt pf 14.81. Bendix Aviation (1). Best & Co (2) Bethlehem St Bethlehem Stl pf (7) Blaw-Knox (1).eeses Bohn Alumn (1%) Borden Co (k3).. Borg Warner (1) Roston & Maine Brigzs Mfg (11%) Bklyn-Man Tran (4) Bklyn & Queens. ... Bkiyn Union Gas (3) Brunsw-Balks. . Bruns Term & Rw. Bucyrus-Erie Bucyrus-Erle Bucyrus pf (1) Budd (E G) Mfg Budd (12 G) Mfg pf. Budd Wheel (1). Bullard Co. «.eevvees Bulova Watch (80c). Burrough A M(11%) Bush Terminal(2%) x Bush Term deb (7).." Butte Copper & Zinc. Butte & S Bales— Add 00. L] 5 96 8 7 52 6 1 320 6 acking (2). Callahan Zinc & Ld.. 315 Calumet & Hecla. ... % Camp W&C Fdy (1).. Canada Dry G A (3). Canadian Pacific 1% . Capital Admin (A) "ase (J 1) Co. aterpillar Trac(3). elanese Corp, elotex pf... ‘ent Aguirre (13%).. ‘entury Rib Mill “erro de Pasco (1) ‘ertain-teed Prod. necker Cab Mrig. 1es & ONI0 (2%) . vo nesapeake Corp(3). hi Great Western. . hi Great Westn pf.. hi Mil StP & Pac... Chi Mil StP & Pac pf. 12 Chi & Northwest (4). Chi Preu Tool. ...es. Chi Pneu Tool p! Chicago R 1&Pacific. Chi R & Pac pt (8). Chi ki L & Pac pf (7). Chi Yellow Cab (3).. Chickasha Cotton Ol Childs Company..... Chrysler Corp (1). City lce&Ruel (3. City Ice&Fuel pf 614 City Stores. ... City Stores (A). Cluett-Peabody (3).. Coca-Cola (17%) Coca-Cola (A) (3) Colgate-Pal-P (234). Colg-Palm-P pf (6) Collins & Aikman, Colo Fuel & Iron. Columb G & 1 (1%3) Col Gas&El pt A (6). Columb Carbon (4).. Comm Credit (1.60). Comel Credit A (3).. 4 Comel Cred 15L(6%). Comel Cred pt B (2). 4 Comel Inv Trust (2). Comel Inv Tr pf 6%, Comm Iny cvpf(e6). Comel Solvents (1).. Comwlth&Sou (40¢) . Conde Nast Pub (2).. Congolm-Nairn (1).. Consol Cigars (5). Consol Cgr pr pf 6% Consol Film.....} Consol Filin pf (2). Consol Gas N Y (4).. 93 Consol Gas NY pf(5) 915 Consol Laundries(1) 20 ConsolRwys pf (6).. % Consol Textile...... 5% Contl Baking (A)... % Contl Baking (B). 40 Contl Baking pt (3). 31'% Contl Can (2%). 4% Cont Diamond Fibre. 19 Cont Insur (2.40) 14 Contl Motors. . 5 Contl Oil (Del).. 1% Contl Shares. « « « « « « ic « « « « « « « High, Lo;. Close. Chee. 3% By 10% 28 1% 3 67% 18% % 9 27% n 3 63 12% % R4 b R 5% 26 1% 6% Net. 3% 1t v 9% 27% 1% 3 647 13% 1w 111 9 914 7814 119% 1% 105 1 17 15% a 24% - 2 6 241 831 1% 48 34 6% 12 144 45 - 47% 261 6 12 45 109 50 33 9y 1 t 11 22 82 46 11% 21 - o - 20 175 99 1 113 5% 16 - 1% 24 50 6 1% 1% 2% —1 100% -+ 10 21 7 % 1 -2 e h 1 45% 4% 38 -1 5 - %y 27% - 1% 1% + W 6% — % 1% - 118+ % ~—1981— High. 86% 18 34 384 34% 63 106 Low. 36% 3% 20 17" 25 22 45 20 29 35 85 1 2% 81 70 4 26 1314 126 12315 13% 93 291, 12 1214 22% 60 11 10 42%. 3 53% 109 41 100 18 5 67 Stock and Dividend Rate. Corn Products (3)... Coty Inc.. sies Cream of Wheat 2% Crown Cork (2.40) CrowneCork pt (2.70) Crucible Steel. Crucible Steel pf (7) Cuba IR pf (6)..... Cudahy Packing (4). Curtis Publish (4)... Curtis Publish pf (7) Curtiss Wrignt. Curtds Wright (A Cushmans pf (7). Cushmans pf (8 Davison Cnemical. Deere & Co pf (1.40) . Delaware & Hud (9). Del Lack & Wn (2)., Detroit Fdison (8).. Diamond Match (1).. Diamond Mtch pf 1% Dome Mines (1). Domn Stores (1.20).. Doug Alreraft(t1%) Drug Corp (4).....0 Dunhill Internatl, Dupont de Nem (4)... Du Pont de N pf(6). x astman Kodak (18) aton Axle & Spr(1), itington-Schild pf., c Auto Lite (4)... lec Auto-Lite pf(7) Electric Boat. ...... fusical Instru r&Lt(l)... Pwr & Lt pf(6). *wr & Lt pf (7) orage Bat (4). Endicott-Johnson (3) Eng Pub Sve (1.60)., EngPSpfww (53). Equit Office Bldg 2% e RR e RR 1st p e RR 2d pf ureka Vae ¢ +d Lt & Trac pf (6) ed Mine&Smeltg pf. Federal Screw Wks. . Fed Wat Sve A(1 ¥ed Dept Strs Fid Ph Fire In( Firestone T&R pf (6) First Natl Strs (2 isk Rubber oster Wheeler (1) Foundation Co...... Fourth Nat Inv m55c Fox Film (A) (2%3.. Franklin Smn pf(7). 314_Freeport-Tex (3) Gamewell Co (3).... Gen Am Tank Car(4) Gen Asphalt (2) Gen Baking (2). Gen Cable pf Gen Clgar (4). ectric (1.60).. Gen Elec spec (60c).. Gen Food Corp (3).. 4 Gen Gas&El A (e30c) Gen Motors (3). Gen Outdoor Adv en Outdoor Adv(A) Gen Prig Ink (232).. Gen Public Service. en Ry Signal (5) en Realty & U Gillette Saf Razor Gillstte Saf R pf (5) x Gimblel Bros pf (7) Glidden Co. ... Glidden Co pr p: Gobel (Adolf). Gold Dust (2%4). Goodrich (BF)..... Goodyear T & R (3). Goodyear 1st pf Gould Coupler. . Graham-Paige. g Granby Con Min (1). 4 Grand Silver Stores, T 3 Grand (Tnion. . Grant (WT) (1).... orthn pf(4). Great Northn Ore(2) reat Western Sug. . Great Wn Suz pt (7) Grigsby Grunow. Gulf States Steel Hackensack W (1) Hacken Wat pf A 1% Hahn Dept Stores. .. Hahn Dpt St pf(6%) Hanna pt (7)... Harb & Walker (1).. Hawalian Pineap (2) Hayes Body Corp. Helme (GW) (17)... Hercules Mot (80c).. Hercules Powder(3). Hercules Pow pf (7) Hershey Choc (5)... Hershey Choc pf (15 Holland Furn (12%) Hollander Sons..... Houdaille Hershey . . Househld Fin pf 4.20 Houston Oll. .....us Houston Ol (new). . Hudson & Man (3%) Hudson Man pf (5).. Hudson Motor (1)... Hupp Motors Lllinois Central (4).. Indian Motor Cycle. Indian Refining ... Indust Rayon (4)... Ingersoll Rand (4).. Inland Steel (214)... Inspiration Copper. . Insuranshares Del A Insur Shr(Md) (40c) Interboro Rap Tra: Interlake Iron. Int Agriculture pt. Int Bus Machine(né) Int Carriers,Litd 60c. Int Cergent (4) Int Combustion. Int Combustion p Int Harvester (2%) . .Int Harvester pf (7). 99 105 99 115% 45 64 ; § 18 24% 10115 31y 45 26 29% 15% 60 a1, 20% 27% 3619 87 45 184 61 69% Bam 207 91 1% 26149 34% 33 554 6319 98 6% 547 21% 35% 111 19 521 113 Rl Int Hydro E1 A (e2). Int Match pf (4).... (nt Merchant Marine, Int Nick of Can(40¢) Int Paper pf. Int Paper & P Int Paper & Pwr (B) Int Paper & PwrC... Int Paper & Pwr pf.. Int Rys Cent Am. ... Int Salt (3)... . Int Shoe (3), Int Silver Int Tel & Tel . 1at Dept Stores (2).. nd Creek pf (6 ea (4) . Johns-Manville (3). Johns-Manv pf (7). Jones & Laugh pf(7) P&L 1stof B(6). Kansas City Southn. Kan City Sou pf (4). 4 Karstadt (Rudolph) . 15 20 15% 27 70 2% %fi 21% K’mann Dept Strs(1'x Kaymer (J) & Co (1). Keith-Alb-Or pf (7). Kelly-Spring Tire. .. Kelly-Spr T 6% pf.. Kelly-8pr T 8% pf.. Kelsey-Hayes Wheel Kelvinator Corp. Kendall Co pf (6). .. Kennecott Copper (1) Kresgo (8 8) ( Kreuger & Toll 1.61). Kroger Grocery (1) Lambert Co (8) Lee Rubber & Tire. . Leh Port Cement. Lehlgh Valley LIt Lehman Corp (3). ... Lehn & Fink (3) Libbey Owens Glans. Liggett & Myers(16) LIgs & Myers B (16) Lily Tulip Cup(1%). Lima Locomot (m2). Link Belt (1.60)..... Riquid Carbonie (2). Loew's Inc (3).. Loew’s Inc pf (6 £ INC. .ovaocsoane dose-Wiles (13). rrillard (P) Co. .. ou Gas&El A (1%). Louis&Nashville(s). udlum Steel . udlum Steel pf. Bales— Add 00. High. 66 4 2 5 2 10 508 408 2 9 5 28 9 4Ty 41y 23 20 28 24% 0% 21% a3 10 90 2% 9 3y 50s 103 108 1g° 4 7% 6% 14 49 109% 31 441y 2 130 2 1 4 3 28 136 18 816 7 3 100% 32 1 6 3108 2008 10 136 1008 1674 2415 815 16% 131, 54 Al 14 251 19 815 214 (Continued. en Page 14.) 2 L 454 414 23 1815 28 224 58 21 a3 37 85 2 4% 23 19% 28 24% 13% Net, Low. Close. Chge. 5% % 1% % %, +1 18 ] w1 -2 % +14 +1 +1 +2 4% A 25% +1% 19 7 % — % 21% 2 |Tediscount rate to 2'; per cent and a | 2 | higher. STOCKS G0 HIGHER | IN ACTIVE MARKET Rail Shares Lead Advance, but Profit Taking Checks Industrials. . BY GEORGE T. HUGHES, Special Dispatch to The Star, NEW YORK, October 9.—The rail- road shares monopolized the speculation Hmle'light in today's stock market. In- dustrials were subjected to-heavy real- izing, and while there were some ad- | vanges, mu of this part of the list had a reactionary trend, while the carrier shares were buoyant. market opened at about the level prevailing at the close on Thursday. There was a heavy turnover, however, and at intervals the tape fell three or four’minutes behind. After an hour or | 80 of irregularity the rail stocks forged to the front, and before noon the lead- ers were up anywhere from 4 to 7 points. Various reasons were assigned to this demonstration of renewed confidence, or Better, perhaps. reawakened hope for the rails. One of them was that the admfhistration’s efforts toward credit | improvement would eventually be ex: tended to include the railroads. An-| othef was the prospect of a decision | on the rate case, and inasmuch as the | Interstate Commerce Commission often gives out its decisions on a Saturday, it was suggested that the ruling might | come tomorrow. e railroad wage situation entered into the discussion in brokerage offices. Oné story was that the brotherhoods ' had. been approached on the proposi- torf that they accept a wage cut volun- tarily, a report seemingly far fetched. Whiitever the cause, railway issties were | the undisputed leaders on the side of advance, Opening prices were mixed An advance in the Federal Reserve drop to a record low level in_brokers' loans were interpreted as bullish de- velopments, Du Pont opened on a 4,000-share deal ‘at 62, unchanged Other blocks were not so large. United | States Steel opened with a 2,000-share | trade at 71, off 1%. Active industrials were irregular. American Can, Columbian _ Carbon, General Foods, National Biscuit, Stand- ard Brands and WoolWorth were slightly Small losses occurred in J. 1. Case. Fox Film, Westinghouse and Montgomery Ward. Mine shares were firmer, with fractional advances in An- aconda, International Nickel and Ken- necott In the rails, Baltimore & Ohio drop- ped a point below today's dividend-de- | duction. level. Chesapeake Corporation | and Reading were higher, the latter by | nearly 3 points. Great Northern pre- ferred, Lackawanna and Canadian cific 'were slightly lower. American.| Telcphone at 138 was nearly 2 points | lower, but American & Foreign Power, | Columbia Gas & Electric and Public Scrvice of New_ Jersey had fractional | improvements. Oils were little changed. | jGeneral Motors led the automotive | group in point of activity, but was slightly lower in price. Auburn drop- | ped over 2 points | The market's course was irregular after the opening, but around the end | of the first hour. prices started strongly upward. Standard Gas & Electric Southern California Edison and West ern Union, after initial heaviness, ad- vanced fractionally. | United States Steel recovered a point of its opening loss, but was still off on the day Bethlehem Steel and Repub- lic Iron & Steel were higher on the | day. Industrials gained actively. Rails | | were higher, chiefly because of the in- | fluence of a firm market for carrier { bonds. Atchison gained 3 points and {New York Central had a sharp ad- vance. . | During the first half hour trading amounted to 500.000 shares. compared to 300,000 on Thursday. Call money renewed at 1', per cent, after 15 min- | utes' hesitation, during which efforts | were made to have the official rate re- | newed at a higher level. Washington Produce Butter—One-pound prints, 37; tub, 36, Eggs—Hennery, 32a33; current re- ceipts, 20a24. Poultry, alive — Turkeys, old toms, 20a25; young toms and hens, 25a35; chickens, 3 pounds and over, 20: 2 to 2! pounds, 22; 1'; to 2 pounds, 25; hens, large, 20a22: small, 14a16; Leg- horn' hens, 14al5; roosters, 10al2; keats, young. 40a50: old. 35a40. Poultry, dressed—Turkeys, old_toms, 25a30; young toms and hens, 35a40; chickens, 3 pounds and over, 2', pounds, 25; 1': ta 2 pounds large, 25; small, 17a20; Leghorn | : roosters, 15a Long Island ducks. 18al9; keats, young, 60a75; old. 40a55. Meats—Beef, prime, 16a17; choice, 15a16; good, 14al5; medium, 1212al fair, 1ia12: cow, 8'.ad; lamb, top, 1 medium, 15a16; veal,' top, 17; good, 15a16; pork loins, 8 to 10 pounds, 22a | 23; 10 to 12 pounds, 18a19; 14 to 16 pounds, 15a16: fresh hams, 19; smoked hams, 21; strip bacon, 22a23: lard, in bulk, 915a10; in_packages., 10}2all. Live ‘stock — Hegs, light, 5.25a5.6 medium, 5.50a5.7: heav 5.00a5 pigs, 5.00a5.5 roughs, 3.00a4.00; calv 4.0029.00; lambs, 6.00a7.00. Fruits—Cantaloupes, Rocky Fords, flats, 1.15a1.25; apples, Delicious, 2.75; Winter Banana, 1.75; nearby, 25al.0( pears, 3.003.25; peaches, 1.25a1.75; oranges. 3.75a5.00; lemons, 6.50a8.5 | limes, per 100, 1.75; honeydews, 1.2 1.75; Persian melons, 1.75a2.25; cran- berries, 25 pounds, 2.00a2.25; grapes, Tokays, 2.00a2.25; Malagas, 2.00; Ribiers, 2.25; Cornichons, 1.75; Concords, 12 quart baskets, 35a40: Thompson, seed- less, 2.00; plums, 2.50: casabas, 2.25; quinces, 1.75; pineapples, 4.50. Vegetables — Potatoes, nearby, 150- pound sacks, 1.50a1.75; Long Island, 1.75a1.90; Icaho bakers, 100 - pound sacks, 2.50a2.75; cauliflower, 1.50al.7: | carrots, crates, 3.50; per dozen bunches, 75; beets, per 100 bunches, 2.00a3.0f string beans, 75a1.00; limas, 1.25al.5 eggplants, 1.00a1.25; mushrooms, 40a65; squash, per bushel, 3.00a3.50; peppers, 1.00; celery, small crates, 50a1.00; tur- nips. 75a1.00; sweet potatoes, yellow, 50a75; Nancy Halls, 75a85; Porto Rican, 75a85: cabbage, 100 pounds, 1.25; to- matoes, two-peck baskets, 75a1.25; Cali~ fornia lugs, 30 pounds, 2.00a2.50. SHORT-TERM SECURITIES. (Reported by J.'& W. Seligman & Co.) Bid. Alis-Chalmers o, 55 1937, ... 3% American Chain Co. 6 1933 " 08 American Tel: & Tl_5'35 1043 Amer. Wat, Wks. & EI 3 1934 Baltimora & Ohio 435 1833, .. Belding Hemingway Go. 65 1836 Bethiehem Steel Corp. 55 1336 Canadian Nor, Rwy. 4125 1038 Chi. Northwestern K. R. 8¢ 1033 Chicaso Rock Tsiand 43 1934, Cleve. Lor. & Wheeling 5s 1933 CGolorado d So. Rwy. 41,8 19 Commercial Crédit Co, 5135 Delnware & Hudson Co. 35 Denver & Rio Grande 455 Gen. ‘Mot. Accep. Corp. s General Petroleum Corp. 58 General Public Service 5'5 Grand Trunk of Canada Houston E. & W. Texas 58 Humbie Ofl §1as 1032..... Laciede Gas Light Co New' York Cent. & H. 45 10 New York. Chi. & St. L. fs 1032 Northwestern Tel. ia¢ 1934... R. R. Co. 6135 1936.. Portland General Elec. 85 Republic Iron & Steel 35 Sinclair Crude Oil Co. 5 Southern_ Pacific 5s 103 8. L. LM.S. Ry. R. & G. 45 193 Unijon Elec. Lt. & Pow. 8s Union Ol Co. of Calif. 8 Vi & ower &3 3 i3 Frenclrlhnk Rate Raised. PARIS, %Odidber 0 (®).—The Bank’ of France today raised its discount rate from 2 per cent to 2! per cent. OCTOBER 9 |financial ills with which the United tand commodities cannot be predicted, | manufacturers, | mendable, 1931, Everybody’s Business Hoover's Plan to End Eco- nomic Crisis Assumes More Ambitious Charac- ter Than' Any Preceding Project — Nation's Lead- ers Rally to Co-operate. BY DR. MAX WINKLER. President Hoover's plan for ‘the pur- pose of bringing to an early end the existing economic crisis is assuming a much mote ambitidus character; than any project ‘which has thus far been evolved. A sincere effort is being made to cure all, or at least most, of the States is afflicted. The President is re- ceiving most_cordial co-operation from the Nation's leaders, industrial and financial, as well as political, which augurs well for the success of the plan. It is, however, obvious that the situ- ation cannot be altered overnight, but one is justified in fecling that confi- v] ' dence. 1s being restored, Which is per-|gqpiemper 30, according to Spofford, | 7t haps the chief prerequisite to & more complete and lasting rehabilitation. Developments from now on are con- fdently expected to be of a construc- tive character, and, movements in the prices of securities the situation, viewed . from range standpoint, seems promising. Steel Shares Improved. Improvement in the price of leading steel shares may be attributed to the fact that the demand from autémobile and miscellancous industries has im- proved appreciably. As a result, stecl- makers in the Youngstown district an- ticipate an increase in steel ingot pro- duction to about 45 per cent of ca- pacity. the long- distinctly Earnings for the flrst eight months are equiv to the full year's divi- dend of $2.50 a share on Continental Can, according to a statement by O. C Huffman, president of the company. Al- though canning crops are expected to be below normal this year and will re-| sult in a reduction of profits for can this condition should prove helpful in 1932 by stabilizing prices of canned ‘foods and preventing & large carry-over into the new can- ning season. A movement, backed by leading American bankers, is om foot to stimu- late the purchasing power of the people and thereby check the decline in com- modity prices., Stabilization Needed. While this effort on the part of| American financiers is highly com- | it is difficult to see how it| will be possible to accomplish this re- sult. Prices of/commoditits or securi- ties, even though urjustifiably low, can- not be altered by decrces. Furthermore, artificial stabilization has rarely 1f ever afforded more than temporary relief. It should, howevcr, be borne in mind that no situation can last indefinitely where commodities sell materially below the cost pf production or where securi- ties are quoted substantially below their inherent values From what may be rcgarded as a thoroughly dependable source it has been learned that a good deal of the recedt selling from abroad ~was for short account and that Paris was par- ticularly active in that connection due to rumors circulated in France regard- ing the alleged unsatisfactory conditions dbtaining in the United States, and which rumors in point viciousness greatly surpassed those spread by America’s own destructive forces in their own country. French Sold Short. Parfs was convinced that short sell- | ing constituted at the moment the most | (rates daily with a tendency to follow while day-to-day | | $257,000,000 bushels. | increase the FINANCIAL DANISH EXCHANGE FOLLOWS STERLING Commerce Department Is In- formed of Tendency in Daily Money Rates. ¥#% A—13 REPORT OF, 'finbrno- ; Departmental Bank Of Washington. In the District_ of &t the' close ot business on® Septem mn& s gan01 1981, OURCES. 180,176.37 243,235,608 RES . Loans and discounts . . Overdrafts Suostood . United States Government se- curities owned . . Other bonds. stocks curities owned . 3 . Banking house. '§106.248.4 furniture and fixtures, STHITIO 4. srons C 11356188 te ‘Gwi house .. 4.612.70 due from banks 73 checks and other h items gk . Other assets . Total 282.62 10037 31,542.596. LIABILITIES. Crpltal stock patd A Surpins o M i Unaivided profits et . Reserves for dividend: tingencies. . Reserves for o and other expenses accrued 21. D 1o Danks, ‘rciid o sterling, the Commerce Department has [~ tified and- ¢ashiere enecki been advised by Commercial Attache |,, poutstanding ... Charles B. Spofford at Copenhagen. 33 Dime ihoenosits . 11 He reported today that the bank’s dis- | 36. Bl payisle and fediscoints count’ was now 6 per cent, §T T S ;’\“ caglrgrt;lm from Spofford mlde\D jerTotal public by the department sald the | District of Colimbia. i Danish Bourse remained closed and | pomoq TeE ki NICIOS, president of the .- n | named hark i ey withdrawals of bank deposits are re- | Above ststement it tent 1o the berhy thE ported to be causing some anxiety in | knowledce and belief d o I T EXN] 5 y Danish circles. Note circulation of | sunscribed s snbrNIGIQ8 President, Rdny of October, 183} (Seal.) PEARLE P, CRAMER, i Notars Pubiic. JOHN G. TEXTER. 2 Directors. _ The Danish National Bank, follow- | ing the government’s embargo on gold exports and the suspension of note | redemption, is establishing exchange £106.040.00 30.000.00 9.007.22 3.881.04 con. 10,510.95 amounted to ‘333,500,000 crowns with | gold cover of about 51 pér cent. The | National bank was reported to be | utilizing New York credits to increase | cxchange holdings. The par value of the crown is” approximately $0.2680. French Grain Estimate, Assistant Trade Commissioner George Anacostia Bank W. Berkalow in Paris has advised the | Of Washincton. in the District_nf Cojumbias department that although no nmrlflll;;“'ht close of business on September 28, figures have as yet been released indi- | '*°- cating the French wheat production for 1931, the French grain trade estimates | the ' domestic crop will approximate | saild at the present time relatively large quanti- ties of American hard Winter and Danube soft wheat have been imported within the limit’s 10 per cent restric ton now in effect. It is believed, ho er, that in view of the deficient crop, | ash o1 government action will be taken 10| 3 t i amount_of foreign wheat | b 4y used for domestic flour manufacture | above the 10 per cent limit. Ve Furthermore, on the basis of present estimates, forecast import quotas of foreign wheat . for France during the | coming year should equal last year's contingent or approximately 55,000,000 busth‘:ls. according to the Freénch re- port. Advices from Rumania to the de- Correct C. RESOURCES. Loans and discounts. .- Overdrafts United States Government se. curities owned . Other bonds, stocks and curities owned . Banking house. furniture und Department officials 6517758 fixtures $9.609.90 ......., Reul estute owned Uthier e oo 39.42621 from binks 138121307 LIABILITIES, Capital stock paid in Surpls §5% Undivided profits-—riet - Due_io banks. including ¢er- tied and cashiers' checks outstanding . Demand deposits Time deposits Total .... District of Columbia. se LTINS X s h P.l. ':I, b&n\l‘%’"’{%i Nu‘hl»r of the above- partment indicate there is a tendency sbove statement Y T hoer shes he of the_part of the peasants to reduce | knowledse and bejjes * 'C ‘N best of my their wheat acreage during the comifg | gup .0 W L KOONTZ. Cashier Winter. Kenneth M. Hill, assistant |15 gey of ocoger fus, 0 before me this trade commissioner at Bucharest, has | (Seal) WALTER s marTMAN, rtportch }l]n the" department that the | correct_astest: Notary Public. peasants have received such low prices “*MAvrice orT recently that they are inclined to turn | LORENES W THOMESoN, their activities toward crop diversifica- | Rl i . tion, | No_ 3625 R 5 No. 5. iChnH!r No. 3625 Reserve District No. §. | Russian Bread Grains. REFORT OF OONDITION Russia_has just started delivering bread grains, Which were purchased some time ago by several large im- porters in Prague, the Commerce De. partment has been advised by | K. L. Rankin, commercial attache in Czechoslovakia, The first shipment of 3000 bushels of rve was reported be- ing loaded at Hamburg to be sent by | the'Elbe River to Decin, Czechoslovakia | Other shipments will shortly . foliow, | The department said it has not as yef | been possible to confirm the rumof that new orders for 50.000 metric tons of bread grains were recently placed with ussia, - Columbia National Bank Of Washington. in the District of Colu At the' Close of brisiness on Septempes 2015 RESOURCES. Loans and- discounts ...82,732,133.18 Overdrafts v . 2580 . United ~ States Government securitics owned . i . Other bonds. stocks and ‘se- curities owned - Banking house. '§180.345.73; furniture and fixtures R 677.026.00 731.128.75 $39.428.73 ... - Reserve | with " Federai serve Bank A 302.458.07 Cach and due from banke |1 758.025.51 Outside checks ~ and other cash jtems syl ¢ Redemption fund with U g 0 oovA Treasurer and due 8 Treasurer .... Total’ ..uen LIABILITIES. . Capital ‘stock patd in . Surplus ... ..., Undivided profits _net . Reserves for dividends, tingencies. 5 . Reserves for interest, taxes. 219.774.48 12.500.00 $5.463.726.05 REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD Applications Invited on high-clas apartmenis and dwellines. and. poriiee $250.000.00 500.000.00 157.348.76 7.500.00 con promising business. They went so far as to endeator to sell U. S. Government | bonds short and for the purpose made | inquiries at American institutes as to whether it would be possible to borrow | bonds for- delivery. This would seem | to_be one more reason against short | seiling in times of stress. | The seven South American republics which have borrowed in the United States, and- whose securities are held by | American investors, spend annually | more than $107,000,000 in connection | with the maintenance of their armies and navies. A reduction of only 25 per | cent would be equivalent to more than | 8 per cent the present market value | of all the ddller bonds outstanding. Inasmuch as racial enimosities and naticnhal hatreds arc less marked in South American countries than in Eu- rope, it would scem quite within the | tounds of probability for the various republics to put into effect a reduction in their militery expenditures of at least 25 per cent, whieh should 'go a long way toward inspiring confidence.in the thousands of holders. of South American loans which are, in many cases, Guoted at prices which absolutely border on the ridiculous. The holder of such bonds aw: only a ray of chger, and such an announcement as is suggested would be greatly appreciated. (Copyright. 1931. by the North American Newspaper Alliance, Inc.) FOREIGN EXCHANGE. (Quotaticns furnighed by W. B. Hibbs & Co.) Nominal gold Seliing London. pound beiga . ‘mark lira franc s, drachma Madrid, peseta Vienna, schilling . Budapest, pengo. . Prague. crown (nom.) Warsaw. z1oty........ Copenhagen. crown. . Oslo. crown Stockholm, (Reported by J. & W. Seligman & Co.) Rate—_Maturity. Bid Ofter. 17as Dec. 15, 1931...... 100 100 6-32 . 18] 1931.TID13 100 A1 T Tt 3 15, 1931°33.; 100 14-32 100 1. 1tas Sept. 15.\1932... )" 99 28-32 99 31.3 3 Money te Loan Secured by first deed of trust on real estate, Prevailing interest and commission. Joseph 1. Weller & st s F W, ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. and Ind. Ave. N.W, 67th Series of Stock Now Open for Subscription 5% Dividend Paid on Stock Withdrawn James E Connelly, James F. Shea, President Secretary First Mortgage Securities Non-Fluctuating Investments Offer a Steady Yield of % Denominations as low as $100 Monthly Payments if Desire Send for Booklet, “The Success Plan” REAL ESTATE MORTGAGE & GUARANTY CORPORATION 1610 K St. N.W. National 1403 . Secured on in- come-produc i n & properties here in the Nation's Capi- tal. Put your idle dollars to work, earning 6% with satety, larly on well located business propertics, 1or'3.°3 0r 10 Years, If so desired 1520 K St. NW. National 0475 and other expenses accrued and unpaid B Circulating notes ing . X . Due_to’ banks. including cer- tified and cashiers' checks outstanding .. 491.931 Demand _deposit, 2,674 Time deposits 1.169. 72605 Colum- 22.711.9¢ 249.995.00 outsiand- n Money on Hand to Loan on Sk First Deed of Trust 6Y% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. 21, Total ... s Citr of Washingion, Disirict 1a. ss.: I 'ROBERT H. LACEY. cashier of the above-named bank. do solemnly swear that { the above statement is true to the best of my knowledge and_belief. ROBERT H. LACEY. Cashier. 35, of | Correct —Attest: Harry Blake. John Joy Edson L. Whiting_Estes, C. Fenton_Fadeley, Albert F. Fox. Ernest C. Guy. | David J. fman, George M. Leimbach, John H. Miller. Theodors W. Noyes, Waiter S, Pratt. Jr. Frank J. Stryker. John N. Swartzell, Harry §_Wolf, Andrew Saul, Difectors | Equitfible Co-Operative Bldg. Ass'n _ Organized 1879 51st YEAR COMPLETED JOHN JOY EDSON, President WALTER S. PRATT, Jr., Secretary § Subscriptions for the 101st Issue of Stock Being Received If you contemplate the purchase of a home, refinancing present in- debtedness or improv- ing property, consult us. Applications will receive prompt and courteous attention, | ON REAL ESTATE | OR TO TAKE UP MORTGAGE Loans Repayable Monthly No Brokerage . . . No Commissions 915 F ST. N.W. OUR 6% FIRST MORTGAGES offer a sort of “the middle of the road” for your investment money, for first mortgages give a definite return of fixed amount, with prin- cipal secured by property that is fully competent to meet its obliga- tions. Over a Third of a Century Without a May be purchased in amounts from $25C up. B ®.. 8AUL: CO. National 2100 925 15th St. N.W. Loss