Evening Star Newspaper, December 12, 1931, Page 13

FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, SATURDAY, DECEMBER 12, 1931 FI A—13 FIFTHAREABANKS | I NEW YORK STOCK EXCHANGE |[STOCKSDEPRESSED ||~ rox s mowp avemsces ™1 || § CANDY TRADE SATURDAY, DECEMBER 12. Dividend Rate. Add 00. 3 3% Davison Chemical... 14 4% % 3% — W Industrials, Rails. Utilities. Abitibi Pwr & Paper. 11 Delaware & Hud (9). 4 724 1 Today . et 63.5% 34.0% 98.4% 3 3% Adams Express 5 ae; " DAl Lok Wi t1),. 9 22 4 Points R hed U Previous day. 64.2 342 100.6 i It 3 10 Addressograph (1) 5 Detroit Edison (8).. 1115 5 5 = Week ago. . 7.9 39.0 1131 3 H National Credit Funds Add e e b TR . New Low Points Reached Un-| | Jeek aro. na s s | |Industry Is Looking Forward 1214 Affilated Prod 1.60 10 18 Dfamond Mateh (1). 3 14 Strength to Institutions. 481 Air Reduction(14%) { Diamond Michpt 1% 10 241 : der Steady Selling Nl 76 lste || With Confidence to Next 1% Airway Elec Appl... Dome Mines (1)... 8 Five years ago. oves 1076 104.6 7 Alaska Juneau (40¢) Dominion Stores 1 16 48 5 igh, 1931. . 0; No D. C. Loans. vl : 5 Eh Pressure. Het el o s A Year. 31, Alleg Cp pf $30 wor.. Dresser M 23 ¢ s High, 1930’ e s2024 4 864 Allied Chamical (6). 15 Srhacs Mt s Egie % 118 You 1930, * b BY EDWARD C. STONE. ]x? ) :mmr('-'nfhw :;;"n 78% Drug Corp (4). 9 " Swhlmsl‘!'”‘“"g" Btar, High, 1929 52.8 BY ALVIN RESCH 31y s-Chalmers . 3 3 213 Dunhill Internatl. Y 2 L NEW YORK, December 12 -—Stocks = y % 156 P ’ % » Approximately $1,500.000 has been 8 Alpha Port Cemt (1) 14 Diolan Sk ¢ s ocks | | Low, 1920, ... U0 4L S Written for the Assoclat 1ol D@l SHE (10 .e declined to new low levels today. * New 1931 low % Admcisied Erem. loaned to banks in the fifth Federal Re-| 23 13 Amerada Corp (2)... 105 95 Duplan Silk pf (8 208 - ¢ : BOND! CHICAGO, December 12.—America’s s 54 Am Agri Chem(Del). 107 Pupont de Nem ( 56 < 1,| The market opened lower and for a ONDS, serve district under the plan of lhe‘ 12% Am Bank Note (2) " 13408 100 'n\“’"m‘l: A:m“‘s!‘»- 1 ¢ e Sk geiibiar il 20 candy indus whose output has been AN ote (2)... 0 u Pont de N p! .o v our ces wi - i Natfonal Credit Corporation, John M 15% Am Brake Shoe(2 40, ‘ 28 21 Durham Hosiery nf. 1008 21 i B Sl Industrials. ils, i | cut less than 5 per cent since 1929, ex- Miller, jr., of Richmond, regional direc- 76 Am Brake Shpf (1). 3 T ruption. During this time 500,000 shares g pects this year's holiday seas > Ir, o € | . i 185% 81%4 Bastman Kodax (18) 37 83+ hange ds t a 5,000,000-sk iy ¥ Doliday sesson to p¥o= S ke ke, 59% Am Can Co (15)... . H AL, A changed hands, or at a 5.000,000-share | | Previous day.. vide “at least its normal impetus” to = : 4 - 4} Am Car & Foundry g - : 1 i X ate for a. full five-hour sessiol Week ago. | il T The amount represents only about 5 | 31 Am Car & Fdy pf (1) 3 3 tington-Schild.... 4 B k. o ; Faaion | sales, and looks fo “‘confidently” to 4 b \ 354 E S e 3 Activity fell off, howe: there w Month ago s N ¢ per cent of the total of nearly $30,000,- | 2%, Am Chain A el :_:;L“Xf,"(':‘ [j:‘a“;"’)f- & . | feeble recovery. At the beginning of Year ago 4 | better conditions in 1932, 000 subscribed by banks in the fifth dis- | ol :"‘ (,"'”] s £ : 114 Flectric Boat. ...... 2 : | the second hour the selling was resumed Two years ago.. | Christmas tra in fact, is expected trict to the corporation’s gold notes, Mr 8 Am Encaustio THing . i 2% ElecAMusical Tnstra 54 3 2% — 1| with almost as large Iots, and the lows| | Three years ago. |to do more than ifs share of maintain- Miller added. 15 As Buropean Secur . 9 ec Pwr & Lt (1)... 120 g Z were made at this time. ceee | jng candy production at 98 per cent of ! 3 Suropean Secur. tleo Pw; ; ) 3 The tharastariot the |1ast year's tonnage. The 1931 output n f 81 6« Am & For Power. ... ec Pwr & Lt nf(6), - The aagier % 1 P These loans of $1,500,000 in the fifth | b = b 2 P 7 3% +1% | judged by the fact that eve | | migh, 1930 r has been only 2 per cent bel | 37 For Por ot () 23 ec Pwr&lLt nf (1). A 1dg 1 after ) . per cent below Yeserve district will add & great amount | 19 1o Am & mor berr batrg. 5 ec Storace Bat (4) : 8 decline of the past two vears, stocks| | Low, 1930. 1930 S lhe i ) aw St'shi 5 ndieott-Johnson(3) 7 5 % | of the grade of United § High, 1929. ... 95 tion has been hugging the par of stability to the borrowing banks, as 4% Am Haw St'ship (1). s [ ’ 1] il ST R 1 3 L 1o RR..... & i ieneral Electric, American Car and | | Low, 1929...... cevenas 904 100.3 | th 0 years despite the fact that the loans are made only to banks in| 8% Am Hids & Leath pf. 18 RR 1t pf (4)... # . eneral Motors went to new lows. | * New 1931 low. s y's dollar volume of sales first-class condition, which have sound 87 Am Home Prod 4.20. 3 ireka Vac Cleaner. 3 4 2 | Measured by points the losses were not | d Statls! l'"‘x_*l : lr‘ . dropped about 12 per assets that are “frozen” for the time 10% Am Jce (2)... 3 : ekl BeBvanS A0ID B . l2 + | large, but they came on top of declines | | o oo, 19305 diue fo decsees 4 prices. 1 . ¢ 81y Am Ice pf (6)..... 3 ’ B P in previous sessions Y € on_buys up= being. The loans were granted by the 484 P T 2 5 Am Inter: 1on: ‘ ) . } sl i ard of $750,000.000 worth of candyoa & Fh S ] $ 3 d | B D e v o BANKS WRITING DOWN ASSETS |55 s in e Loan Committee in the section where 21, Am La Fr&Foam pf. 8 9% 20 Fed r,:&k'rr“tn:r;':x S MiEa g they had_their quola of new lows, in- s 10,000.000 pounds—at, retail the banks are located 3% B4 Am Locomotive..... 3 3 3% Fed Water Service A + | cluding Baltimore & Ohio, which is | | trade T the sany ioqsxe of holiday The money loaned in the fifth dis- | Rl pegeait s 2 434 42 3 S B - expected to omit the dividend at the IN PREPA A I ION FOR RECOVERY £ uraeyoandy industry one. lead- grict is divided among banks in MAary-| 48 16 Am Mch & Fdy 1.40 3 a 9 F1d Ph Fire n(2.60). & F: 211 next meeting. On the other hand, New | than 26,000 S o e Lig$ Tnote land. Virginia, West Virginia, North | & Am Mach & Metals FirestoneT& R (1). 3 13 York Central, Union Pacific and Dele- e o o a Wil be requited.ita and South Carolina. While Washington 5 Am Metal Ca. X 5k 8 5% -+ Firestone T&R pf(§) & B0 + 1% | ware & Hudson made stol | Thoet aruletide demands this year, and banks are, eligible for loans in the fifth | § 2514 Am News (13%) ; y I3 ade stout resistance, that Americans will eat more than 53« 2 3 First Natl Strs (2%) 14 7 + most of the time up on the day. This | . . 1 1 1 000,000 o : district, none of these institutions has 13 Am Pwr & Lt (31). : % Fisk Rubber 10 1 was, of course, a response to F ]’]d ] ey el woufectiongs kn > o u 4 . 4 Fis ber, . was, urse, sponse to the gesture 10 hristmas d: applied for any financial assistance. | 495 Am Pwr & Ltpf (6). 3 5 15 Fisk Rubher Tst pf.. 200s ! of compromise coming from m.-zn\m.\. oundation for (aly G pbu1 1ng S| © Tt m“.“;‘\“.,‘:,{ ”’d‘\m,‘“d e The fund raised in record time by 31| 40 Am Pwr&Lt pf A(4) 8% Foster-Wheeler 14 entatives of the railw o . - . S \ sents 3 ailway unions at N idi b M £ s at a felrly steady rate B 1T 16% 1€ Chicago. as well as an indication that ow Bemg Laid vy Many o Ao Scader eady rat g3sZgsgeey Jocal banks has not been needed. | 39% Am P&L1 nf A st(5). 2 3 urth Nat Inv (1.1 f the Nat of the Nati R - 5y Am Radiator (60¢) § 2 Fox 46 3 » Ta 8 a v Bank Starts 43d Year. 4 - 5 & he railway shares had more nearly 112 Am Radiator pf (7). 508 11 134 Freesnort-Tex (3) .. 22 5 om; o] eadjust Officers of the American Security & & Am Reonblies 1508 o M completed their readjustment than Trust Co. are receiving many congratu- SR Soublions . cve dolR s ot i TOL Gasewel Co 37— dos 19 — 14 | either the industrials or the utilities Larger Institutions. By =l S hristmas tr t now appearg ; will give af will represent a marking down of values | * 2l impetus to sales. 4 ool e hinunellns.. a0 2 Gen Am Investors. .. 5 ; 5 Another stock that stood out because cessful operation, completed this week, 1s 19 Am SmiteaRef (1%) 29 32 GenAm TankCar(4) 13 34% 32 of the support it received was Aubun The bank first opencd its doors for A Sntif (13%) .o 1 9% Gen Asphalt (2), 20 0% - Auto, in this case reflecting the over- BY FRANK H. McCONNELL. business on December 9, 1889. Steady % Am Solv & Chemical. & 12 Gen Baking (3) £ | cxtended short interest. Incidentally, Associated Press Pinancial Writer, to current market prices. try'st ontla conservatively, the induse and solid has been its growth until its 5 Am Steel Foundry... 14 i Y + 2% Gen Bronze. . 2 stocks which are believed to have no 2 Tv's “outlook for Tesources are now in excess of $40,-| 113 704 Am Steel Fdry pf(7) 108 76 2. 1% gmcan s ] short, interest. at al Jere the Veakest. | NEW YORK, December 12—Leading Realty Holdings. We confidenty 000,000. Deposits following the last call 36 Stores (12%)... 2 37 3 GenCable (A). 5 4 3% .3 The oils were disturbed by the omis- | New York banks and, it is understood e year - $32,320,100 * 35 Arm Bupar Rot 1oy 8 38K 35K Gen Cable pf. : : slan of the dividend on Gult Oll of | wway Street, the larger banking in- ,;I'hls D it surbed with caual | The Associated Retai Confectionerg The past year has been one of the 121% Am Tel & Telex (). 33450812315 F 25 Gen Cigar (4) o 8 9 Pennsylvania, but the losses wer> only d & g Vvigor 1nh e cases of gilt-edge bonds |have found that parcel post shipmente most notable in the bank’s history, 69 Am Tobacco (16) 22 70 % 24 Gen Electric (1.60 5 fractional stitutions throughout the country, are g"dr:" s o Choe of corporate stocks held | of Christmas candy are he lding up om made 50 by completion of the big annex 7014 Am Tobacco B ( 60 11 Gen Elec spec (§0c).. 20 1 During the day U. S. Steel touched | laying a solid foundation now for an | 1y the investment divisions of the lead- | a level with last year's volume which gives the institution unlimited| 182 105 Am Tobaccopt (8).. 4 30 GenFood Corp (3).. 143 3 43 for the common and par for the pre- | yopuilaing of their assets throughout | henir iy cical estate holdings of the| Last year Utah led all States in pes space for expansion in the future. The 23% Am Water Wks (3).. 19 1% Gen Gas&F1 A(e30c) 17 ferred, prices not equaled in years. | 183530 3% 0 ooding vears nks will also be “written down” to | capita "consun 1 of candy. i enlarged banking quarters have been in 22 Am Wat Wkaofs(3), 1 4 Gen Mills (3). 8AIE “|Qther weak issues included Allled |4 o girst major step in this compre- | by qoarkel valuations, although | Dopulation aver: more. than 33 use for several months, while the work | 1 315 Am Woolen Co...... 3 Gen Motors (1) 404 21 Chemical, Air Reduction, Eastman Ko- | 1,oncive ‘program, it was learned today, | ~ou LY, these figures in some instances | Pounds per individual.. Pennsylvani of completely remodeling the old quar- 16 Am Woolen Co pf. 16 QMo ha), 1L dak, Westinghouss Electric and Johnis- | the pankers, will use the pruming knit | ik g)fngsb*utl{x;;gtgh;“oc&)sécn{‘;ffsoduc!ng those Song, 2nd Mitne' third, each ters is also {ar advanced. The unitin 2% Am Zinc & Lead. . : )y : o a Manville. There was nothing in the | £ il 2 uildings now occupied. | those States eonsum e avera Of Hio Bew w00 ShL Aot AT Anaconda Copper. g Gen Ertg Ink of (6).. 308 ) news of the day at all adequate to ex- | Yo' IOTOUBHNESs to prune down paper| A lead in this direction was taken |more than 15 & will make a particularly attractive bank. % 9 Anaconda Wire& ¥ 3 den Tabhio Senvios - plain the liquidation. Some of it was | Yea® 050 SR Mhelr banks ‘;(‘"S"FU yesterday, when the management of the | $iSSIppi, with 3 At the head of the bank's official | 18 Andes Copper. ... v e g ol indoubtediy to record osszs on income | G ECmAIG BAJERENE of the banks Will| Chase Securities - Corporation, invest- | had the Towest aver - % 8 Archer-Dantels (1 jen Realty & U1, oA some of it was indis- | SPOW & sizable, though in many respects | ment affiliate of the Chase National | = family, as it starts out on tis forty-third e tax returns and some of it w 8 HOEMAL thontans IV : year, is Corcoran Thom, who took over | 102 95 Archer-Dan pf (7).. : 0 e @ B ol : 7 | criminate sacrificing representative of | § RO A S “ an s, bt | Bank, notified stockholders of its inten- | Money to Loan . 20 Armour of Del pf (1) Gen Refractories (1) 3 5 5 2 & actually will not reflect a great loss in | tion to reduce the corporation's capital, | Secured by - the presidency on_ the retirement of G 55 Dlise tre Bt 9 5 p the prevailing state of mind. terms of dollars and cents. The losses | % d by first desd of frust on real estat Bhe Tate CHATIS . BN S0t Thure apd. 1 Armour of IIf (&) Gen Theatre Equip 3 e ok O Wil be paper. saenar Conts. The losses| Approval of stockholders will be asked | - Frevaling. intersst and" ompral matate et s i T ARG ) S8 L Atmourof BN (B) 38 91, Glllette Saf Rasor. e paper, rather than real. They | at the annual meeting scheduled for | Joseph eller 120 wasn. 1. & Try Moran, vice president: Frederick P. H 6 Armour ot Il pt pirifcisoiin e gl ArE TIN CAN DEMAND OFF next January 12. — Bids.. sth & ¥ NV R e e LS 8% Art Metal (40c). Gimbel Bros. .. Qther stockholders' meetings which| Second Trusts for Sale, e ek : 95 Gimblel Bros pf (7). 5 29 will attract attenti 3 - treasurer; David N. Houston, trust offi- 4 Artlog Cory, Gt 20 PER CENT IN YEAR| i Ct attention are those of Na- | we p, ‘ b W 1'% Associated Apparel. : 3ltdden C S A 4 | tional City 2 | o - $1.000 to 750 cer; Willlam L. Beale, real estate offi- 1 Aabccined Rpersl oy S L y Co. and the Guaranty Co. | witn mas Ad . short " may is encouraging, better conditiong cer; J. Dann Faber, auditor; Albert H. of New York. The National City stock- | Lurities. & ° Becurihe ] . Gobel (Adolf).. lers’ Cor! b 2 Schillington and Robert L. Flather, bl e L LR : Gold Dust (2%, 26 161 Companies engaged in the manu-| holders' meeting will not be held until | Srace” o 26~ Jackso loy 1 2 | next June, but at the last 1 — Assistant secretarles; T. Stanley Holland Goodrich (B F) ) facture of tin containers have been | | a annual mee J. Eliot Moran, Arthur G. Nichols and AL A CoaRriei Gl S i el confronted this year with a substan- Lr;g“x;lug;dq;cig vihat chgrges against First Mort L Earl G. Jonscher, assistant_trust offi- 95 Atlantio Refining (1) 3 3% Gotham Silk Hosfery tial curtallment of demand, says ‘he B incurred because of gage Loans v v A v " ~ the companys' determination to eors: Willlam W, Eeck, Edward E.| 43, 4y AtlasStores (1) Graham-Paige : 3 3 Standard Statistics Co. in & survey, the o [ 1 to_pare | Swan, Hans W. Ireland, Richard E.| oo 0% 4 b0 .. Granby Con Min (1). YO which continues in part: its holdings down to the lower of two | Harris, Percy C. Brady, Harry P. White, [ 5,4 534 Auburn Auto (84) ... Grand (nfon. ... ; s “This curtailment has been due in | fgures, elther actual ‘cost or marko: | LOWest Rates of Interest and Commissiox James C. Dulin, jr, and Charles C.|——t—2isAviationCoro (Del). 4 Grand Union pf (3). 3 9 5 large measure to the sharp reduction | Prlce. orne Guaranty Co.'s stookhold-| xp. 5 . - 27 4% Baldwin Locomotive . Hon 3 e . k | ers’ meeting is scheduled for Janu- omas J. Fisher & Company. In Boswell, assistant treasurers, 10414 20% Baldwin Looo pe 9 314 Granite City Steel(2) 3 : in the packs of the leading mngmz Meeting Called for December | arv 20 — S o 3 415 20% Dl - 2 : Grant (W T) (1).. 2 2 crops, particularly peas and tomatoes. | it Bank Observes Anniversary. gT% 17 E;nlm :t(me O 19 Great Northern pf (2) 2 Btk of fheeei pasks areheatimiated® 60 ?eferrlng to the pending write-ofts,| The COMMERCIAL The Chevy Chase Savings Bank noted [ 80% 8 alto o 9t ¢ Great Northn Ore(2) 9 have declined from 35 per cent to 40| 17 to Seek Aids for Ailin a leading bank officer today said that snother anniversary a few days ago,| 107 87 Bambergerof (6%). . ’ Great Western Sug 6 i per cent below the volume handled g - |in many instances the write-offs will NATIONAL BANK both officers and directors being filici- | 10 1% Barker Bros... o Grigsby Granpw. . E last year, which was of record pro- represent & . bookkeeping . transaction tated on the Institution’s enviable suc-| 144 41 Barnedall Corp'n. . 8 373 Gulf States Stael E 5 portions. Canning of other vegetable Industry. only. Many securities were purchased | 14th and G Streets cess. John C. Walker has been president | - g5 gg% JRv S Cig 3t ot (1) 6 . “30% 24 Tackensack W (1%) p crops has fallen below that of 1930 by fmtt for the purpose of reselling them | B N of the savings bank since the death of | 30 83 Bavuk Clg et pf (1 o, Habh Dent s ioss : Varyide percentages, " with' the' noiahie WL ST aler at & profit, but because of the | Banking in All of Its Phases Froderjo K. Farouigon, whio Wak pEn-{ 55 arif BischRACEke (0). g A 19% Hall (WF) (1 20) | exception. of sweet corn. By the Associated Press. | & Q‘Sa"mty for Janking purposes \of o= cipal of the Chevy Chase School for| co,. 2ot Belg N R pt pf 14.81. 108 Hartman Corp (A). “Requirements for general line con- TULSA, Okla. December 12—-A'gf ing a position in particular situa- SINCE 1899 many years. in addition to President| o5,0 Youl pendix Avistion (1), 87 For 100 Helme (GW) (17). 2 tainers, used for packing paints, var-| LGS (OKA. December 12-7A | Hons. | Walker, the officers include Thomas W.| e Best&Co (2)oen.rry 9. 25 18 Hercules Mot (80c) nishes, ofls, chemicals, drugs, tobacco | Meeting of the board of directors of the | Securities Affiliates. MONEY TO LOAN Perry, first vice president: Joseph A.| gq. Bethleham Steel (2). 117 2 58 Hercules Powder(3). y and other products, are expected to) TACCRT [EHO TR CSHUES Das b to| 'The question of advisability of at 31:% and 6% TInterest Burkart, second vice president: J. Eara | 1p8 751 pethiehem St1pf (1) & 4| 118% 95 Hercules Pow pf (7) 5% g reveal a better sustained aggregate |C b e 7 : Louisy Fank muin e 4 a Before Placing or Renewing Your art, c i » 3 72 b t 9 I e st ate | consider the ills of the industry, which | ba aintaining a securities affiliate First Deed of Trust Troth, third vice president and cashier; | “59 Bl aion D680 v, 4 103% Hershey Choe (5). 5 than in the food division, although the [ Lk resident of {he in-|has received olose - spudy. - Smva R. A. Weaver, assistant cashier; Paul| 3 John Aldmn (1%).., 40 104 Hershey Choc of (5 8 total demand undoubtedly will be less | SO L BeBlT PEeldent of bie do- | o ich as Bangers: Triet oo ool Consult WELCH Realtor £. Leman, counsel: Clyde D. Garrett,| '3 Booth Fisherios 2 19% 5% Hollander Sons. . 3 4 | than g year ago. Combining these two | Siltute, considers the worst ever ex-| v, Feh as Ba Bk e Loan Specialist secretary, and Samuel Peacock, auditor. | 7ei Borden Co (3). a2 3 37 Holland Furnace Co. 3% 13% 13 | major divisions, # now appeats prob- |Pefenced o oo | Trust Go., whins s aronal Bank & 158 and N. Y. Ave N.W, The bank’s board of directors is made | 303, Borg Warner (1) 13 13214 Homestake M (1.80). 16 1304 122% 130% +8% | able that total demand for tin con-| In calling the St. L meeting | Trust Co, s e merged with | (National Savings & Trasi Co. Bldg.) 3 5 o] . ! vill | Beaty said the industry is on the brink | the Manufacturers’ Trust Co., and the NAtio 16 up of Thomas W. Perry, Joseph A. % Botany Uon Min (A), 1 9% 3 Houdaille Hershey 3 3 3 tainers for the full current year will | » e direct Manhattan Trust C = = — Burkart, Paul 8. Leman, Clyde D. Gar- | 298 Briggs Mfg (11%)., 31 6315 19 HoustonOfl.... 9 9 be some 20 per cent to 25 per cent | Of catastrophe. Thpt Irect ors are tex- e dec'arpd“sm fo ,K'D“?‘ have re- Tett, Edward J. Murphy, John C. Walker, | oy Bklyn-Man Tran14) 17 7 14%4 3% Houston Oil (new) Y 3% — | smaller than was the case in 1930.% | pected to consider steps to prevent a | cantly decl YL o s discoutin. | George P. Hoover, Atwood M. Fisher,| 941 63 Bklyn-Man Tr pf (§) 3 3 291y Howe Sound (2). 5 4 s N 25 cent a barrel price reduction, pre- UINg their securities affiliates. Money on Hand to Loan on Prederick W. MacKenzie, R. Frederick | 13s Bkiyn & Queens. ... . 44 Hudson & Man (3%%4) 19 29 3 dicted ns likely the first of the year,| —Reasons of economy have been given Fi D th g e e e LI L T R 781 40 Hudson Man pf () :($13,000,000 INSURANCE [uniess supply and consumption are bet- | 1 some instances. but in the. case of irst Deed of Trust Conrad,” Bynum E. Hinton, Herndon | 129% Bklyn Union Gas (5) 26 Hudson Motor (1). 3 y ter reconciled. he Manhattan Trust group's action—a Morsell, Horace E. Troth, Truman Abbe, | 15 2), Brunsw-Balks 13% 3% Hunn Motors 5 4 y After martial law was declared in|step that was sponsored by the Boards 67 lnterest | ; Directors of the three Ia ‘ Walsh, Ralph| 9 I [ T LT T N ; both Texas and Oklahoma to enforce | O e el S SR ft B b R R SRS ; | complete shutdowns of _production, | hattan units—it was explained that (e The bank is one of those engaged in| 34% 6 Bucyrus-Liriec¥ bt. the local co-operative Christmas Savings 13 3% Budd Wheel (1)..... Club campaign, unusual interest in this| 23 4 = Buliard Co, brand of thrift being reported in the| 15% 3% Bulova Watc % Tnaian Refning g petroleum prices rose a few weeks ago | move was taken “to follow the treng s Al e y | Word has been recelved here from | FUUGT UGS tonts s barrel, Proe | of opinion strongly exoreed i, som Reasonable Commission and 182 28 Ingersoll Rand (4).. b q s | New York that the November paid new | yiously oil has sold as low as 20 cents. s to the i Prempt Replies to B A 3 Inspiration Covper.. R insurance of the Equitable Life As- |Prices have been in excess of $2.00 & : ‘ Anuseciin Chevy Chase section. 324 10 Burrough A M(11%) e < ; ¢ ties companics.” 6 Insur Sh(Del)162%c surance ¢ of the United States |barrel e o y 31 15% Bush Terminal(2%) 374 Insur Sh(Md) (28¢). 3 3 lsanoeliSaglely, drishe 13.000.. |, Simultaneously with the calling of | Opinion on this point, however, is | JAMES F SHEA Advantages of Depressions. 13 85 Bush Te 1 5 5 ' ~ 2| Is $68,387,000, an increase of $13,000- |he St. Louis meeting more ofl leaders | sharply divided. Many ~bankers fe S 1 h Terminal pf(7) 6'x Interboro Rap Trans i | I | v teel Frank L. Jones, vice president of the| 2% 114 Butte Copper & Zine. % Intercontl Rubber. {000 over the same month of last year. |announced their support of a plan for | that an investment affiliate is highly | 643 Indiana Ave. N.W. Equitable, made these two remarks in| 1N % Butte & Superior. 5 Interlake Iron | 8 T _— C TAEIonal “TPE";‘%F‘PX;‘;]‘;“‘:EP ‘;‘m;ru':’é‘é;w“*“'flmf- PR his address before local insurance men | 20% 313 Bulterick Co. ... ss : In. Agricultur o seek means of helpi : stry. and bankers at their annual dinner: 69% 125 Byers (A M) Coorrrs Int Bus Machine(né) 13 105 .| CLEARING HOUSE FIGURES. The plan ws advocated by the Oil and “A business depression is not without |~ g3 9 California Packing. . 2 3% Int Carriers,Ltd 60c. 2 3% 3 3 Washington clearing house figures for | Gas Journa: 3 its advantages. Men and women of to-| 11% 3% Calumet & Hecla. ... 2 Int Cement (3). L today, $3,925,526.66. Harry H. Smlu:, exet‘um:l secretary | day are more humble, more considerate,| 45 14 ‘anada Dry G A (3).. Int Combustion ) a 47 SESC of ;rx‘m M‘?CFL};T;;}I\‘:dol;latl:]ck GJasHfi- more convinced of the need of stability| 45% 11 Canadlan bacifio 1%, : ) Int Harvester (234). : ; Lo S ety pim. to | and of good habits, The family getsto-| 16 6 Capital Admin (A).. 5 — 3 Int Hydro E1 A (2). 6 NEW YORK BANK STOCKS |y, Secretary of War, \lrxmg hl":] to gether about the hearth and discusses | 131% 383% Case (J 1) Co....s.s + Int Match pt (4).... ] “ G S ssk President Hoover to call such a its problems in times of adversity, while | 116 _ 68 Case (J I) pf (7).... K 2 (nt Merchant Marine. 2 2 “ | meeting. in times of prosperity each goes his own | 621" 10% Caternilar mra (1) 3 2 Int Nickel of Can 20e 7 #| oNEw YORK December 13 (R—| The plan would (;llitgne}tgl;e:':;fig;rss t t 3 way, each has his own money, each has| 13% 1% Celotex vic ctfs. ... 2 : Int Nick Can f (7). Over-the-counter arket: o e i I C d d T Y Nix own aas 8T8 101 Colotex pfo.vesrirs : 7% Tot Paper & Pur (A) 2 2 5 | Seeredited representatives of the oif || AIMErest Compounde wice a Year “With reference to the conditions| 253% 11 Cent Aguirre (134).s 7 Int Paper & Pwr (B) Banks. | producing States and representatives of ! which prevailed in 1928 and 1929, I am| 8% 2% Century Rib Mill = Int Paper & PwrC.., 3 ¢ e the Federal Government. = © Systematic savin, reminded of the old story in the elemen- | ~3014 4 Cerro de Pasco (1).. 3'a 9 IntPaper & Pwrof, 9% 9 e 3 Midcontinent leaders o in you that spirit of thrift whi il tary readers of boyhood days, where 1f| $8% 3} Cheoker Cab Mrie ; 693 39 IntPrintg Ink of (6) 2 : nuercial Nat 13 " | tered the movement include Charles F. | e D‘,""'s" ;.l lf-{l!] you on the was stated: ‘One flew east, one flew | 46is 231 Ches& Ohio (2%) 8 Int Rysof CenAm pf o ! st 900 Roesser ‘of Fort Worth, head of the As- | o) r more will open your west and one flew over the cuckoo's| 644 14% Chesapeake Corp(3). 2 3" Int *,1!0;)4 saeen 2 = t s 500! ktl!d ém orz(mét;al&orm Ocrha’frcf?;fi 3 X nest’ But of those years of great finan- | 7% 2% Chi Great Western. . 2 DR 20 hoe (3).. 39 39 — 4 |Pu L | Mark L. Requa o 2 : . cfal prosperity it might be said that| 27% 9% ChlGreat Westn pf 9% — 3 o e 8 N | of the CulnR.dn f{fr‘.‘n’ifi,mvffé'o?f ;ag.:g‘ Money Available for Real Estate e ‘some flew east, some flew west and all| 8% 1l Chi Mil StP & Pac... 39 » i Sllvebw : - s A 5 s | years ago; Roy son, B flew over the clickoo's nest. - 16% 2 Ohi MU StP & Pagpf, 1 ; 5% Int Tel & Teles (60¢). 8% — % ; T |61l man of Ardmore, OKla., and W. G. No Commissions Charged . i ¢ 21% 10 Iat Dept Stores (2) 10 ; ey gl y, Tulsa oil man. 5t 6% Chic & North P Mo 3 Skelly, Tulsa oil m Exchange Remembers W. B. Hibbs. | {52 §7 Chick Norths + s 9% 1% Investors Equity.... 2 w 1% e | P . o7 1° Members of the Washington Stock| 654 9% Chicago R l&Pacific. 16 133' 18% Island Creel Coal (4) 18 -1 . Miss Elizabeth Roberts, who died at CO um 1a ul ng SSOCIat]on Exchange remembered W. B. Hibbs,| 90 12 Chi RI& Pac6% pt. 8 3 S 19 18land Creekipe (6).. 9 s : 55 | the age of 101, was one of seven sisters senfor partner in W. B. Hibbs & Co.,| 12% 8% Chickasha Cotton Off 1 574 24 Jowel Tea (14%5)... 30% — % : 1 |of Bank Cottage, England, who never 716 11th St. N.W. on the occasion of his birthday an-| 33% 64 Childs Company. 1 808 15% Johns-Manville (1).. 15% —17% | Manufacturers . 3 married. e niversary, which was vesterday. It| 26% 11% Chrysler Corp (1)... 18 1231 873 Jones & Laugh pf(7) Cr i O G T i UNDER GOVERNMENT SUPERVISION happened that Mr. Hibbs was at his| 37% 26 City Ice&Fuel (3.60) 3 T o e y g | Member United States Buildi & Eo: estate in Leesburg, Va., where he was| 90 sg». C:xyklcl-&r-l'uenpr 6% 108 K m‘:;‘n ne}-[stm‘n’" e ,l, d R l t a Glance 0 ing an an League surprised with a huge bouquet of| 22% 10 Clark Equipment(1). 2 s b < 7 & . - flowers fro Bl ity 344 16 Cluett-Peabody (3). = e, rade CPOI' 8 a The broker been a member of | 106 Cluett-Peabdy pf (1) 2 selthi-Alb-0r nE (T) ‘ the local exchange many years, | 170 § Cocoa-Cola (18) He served 1\ and again as presi- | 50% 26% Colgate-Pal-P (234), el o NEW YORK, December 12.—Tabloid review of wholesale and retall SAFE BILRS b 2 dent and was practically always & | 1041 “olg-Palm-P pf ()., Selviates G, , business conditions as reported to Bradstreet's this week from the follow- T *OR'T G AGE:S be of governors.| 17'a “oilins & Aikman., & Einbis cin T § ing centers, on the basis of comparisons with conditions in the same areas Fihres, YeRrs iagbins ead B 10\ Colonial Beacon. ... 0 0 Sn s DO [ 2 in the corresponding week last year: tive trader, his vigorous| 32% 010 Fuel & Iron. ... Rices | 2 239 N 3 R) Co b 2 Wholesal Manufacturing pestions | £ (S EIB ol LR (14 L2t b 24 Kresge Dept Stores. 2 : and Job irade. Retall trade. ~and industry. Collections. ginger” in the i~ ~ o % 54 Chicage 3 Fa Quiet Fair et 1 GIRAE RN A T B e i A - A ANY TIME IS BUY TIME 5% olumb Carbon (4). . 5 . 2 7 Debrofbion, ki Fair Quiet Slow Fair 5 & Kreuger & Toll 1.61). 5 sribirs o kile: it 23% omm Credit (1.60). Indianapol Fair Slow Slow mbers of his firm | 23 4 2 rocery (1). apa Fair . . he exc e 35 omel Credit A (3).. —— Y Louisville . ir Quiet Slow N a res o o ‘v\");]auLm\n;:A 92 “omel Cred 18t(6%) 40% Lambert Co (8). 5 ¥ 1‘/}‘1‘1’\\‘7,:\“(;0 % 3;‘}5‘ ;:u Fair Slow for an iny estment in our I the local exchange were| 3% “omel Inv Trust (2). i s LmeEnauc). 5 5 Pittsburgh ... Quiet Quiet Quiet g{""’ ng on es . 5 214 « Comel Solvents (1).. «¢h Port Cmt pt (7). s S s Slow ow { s e ,‘:,\"","f“.},:.‘“;‘vmfi’:_ G BT % Comwlth & Sou(30e) 3 ‘ 2% Lehigh Valley Coal. & Bfiiu]t‘:xmfl.e.fi Al %’:t g:lret Quiet Slow 6% FIRST MORTGAGES that never happens in these days ang 4% 6% Congolm-Nairn (1). 5 Lehman Corp (2.40). Minneapolis % Quiet Quiet uie ow . 5 Y | 71 Congress (1).e 3 Lehn & Fink (3).... uiet, Slow i rarely did then e ok Donreaa ClpaE) WS : e fodhei S ’ e T | gmana .. Quiet Quiet gl e Ry In them is no fluctuation, for the Financial District Not | 55 Consol Cigars pf (1). 39 Liggett & Myers(15) St. Paul b Quiet Fair Quiet Slow - ks 345, Conwol v br it 4. I Ligi & Nyers B 3% 44% 451 A7 Baull : Quie Faln i ey principal is secured on conserva- Exch e Ba b % O o! m. D81 ” «IER & Myers p! 7). 4 . . . = T b ™% Consol Film pf (2).. 7 Lily Tulip Cup(1%). y Comment. tively appraised improved Wash- ; T ko :; :’:vnxo!lf}ll:\' » «:).‘ g 1 ;Am:llmcomut (m2). 3 Chicago—Interest in steel production growing; pre-inventory “sales,” 5 s ngratulations from 2 Sonsol Gas NY pf(S) 2 S panicBelt (2.60) ... 00 . of good average volume, stimulate retail sales. Over a Third mmgton real est: 2 e st B AT aonE G 1’(’:15232}11:\52",,?"('.',” q ; 1].1(‘,‘:\1@(151,?,',15‘2). o Cleveland —Retail ‘sales not up (gfe?(]i)ecuL!liDm: steel continues at g cal estate and the stated e i e T 13 Contatner Corp (A) ' 2% Lot Ing O etroltRetall srade peneraily goal: smployment improved; new auto of a 6% never varies from the day of i 1 3 4 Container Corp (B).. + 33 Loose-Wiles (13). i " § 3 y b land Railway should exceed fix 2 4 ) lines furnishing work. : . charges this year by close to $900,000 5:: gch: Baking (A).... 3 ;mw-\\uensun. . 5 Indianapoli tone mills operating on part time, with shipments Century investment to the maturity of the g"m’" P. Bagby, president, stated. “We 1 (‘::!‘l Ei::il:: ;ir‘)(i}" L llxll‘lair]:!ntll')l (1.20). 63.3 per xcgm below normal; retail sales fair, but bt;loww}q%igme @y it i cial’ situation, &t the end of the year 314 Contl Can (1) ..., 3 : Lou Gas&E1 A (1%) 2 due 16 Holkiayo Grage and ehesssenis i Gl i ool oAt will be good £ » 4 Cont Diamond Fibre, 4 Louisville & Nash(4) Milwaukee—“Milwaukee day” results highly satisfactory; manufacturers The Vietian: Haflvey had emised 15, Con: Insur (2.40).... 9 90 138 Ludlum Steel. ] of leather gloves report increasing activity. Loss Mavib 5 : = salaries of all officials and members of s Dusdintors 2% 14 Ludlum Steel pf..... Pittsburgh—General trade, excepting seasonal retail lines, quiet; auto- May be purchised in amounts their staffs 10 per cent, effective Janue - : Contl Sh q motive purchases of steel disappointing; demand for pig iron and scrap low. £ 25 BTy i Coata b e I anlt ol Bhres, 4| 1% 171 MoGrory i ] curn s, Molnes-—Cold weather helping retail trade; wholesale orders quiet; rom $250 up. - . A 9 . - 93 3 % ture ant ousefurnishings fair. ! 126 Corn Prod pf (1) Mo m AL e) T ade; lumber and | U. S TREASURY BALANCE. 3»‘; gg(illn‘e_'” Mlin'\-".'e’.,’;oil’ify"’(‘.‘)’,' . mimngu;ulet. ales” and Christmas buying stimulate trade; The United States Treasury balance, 25% Grove e e Mclesson & Robbing 7 , Kansas City—Bakers reluctant to buy at present Wheat prices; wom- mnounced today as of close of business it S I McKes&Rob pf(3%) : 8 en’s clothing quiet; farm conditions fair. December 10, was $57,308,220.67. Cuse 5 Crociis Seo (2.70y 24 McLellan Stor 6 Minneapolis—Manufacturing on part-time basis; building trade slow; ~ . toms receipts for the month to date 45 Crucible Steel pf (1) ' McLellan St pf A(6). no activity in holiday goods; unemployment worse. s were $0,484,969.20. Total ordinary ex- % Cuba Cane ng““' 3% Mack Trucks (1).... 3 Omaha—Wholesale dry goods improved; crop conditions good; milli- e b penditures were $22,187,727.90. % Cuba Co. G ::lgy(RH)kGCo(nl). nery Sz"dfil?ffi“ _glalhmg quiet. e b National 2100 925 15th St..N.W. PR ORI B Citanrranay. é s a Copoer iy - toys for 1mmedmgyshnt‘;;‘;:c:tgfxfi:m?:‘?:itta}:de:ufi. Jer e SILVER QUOTATIONS. - i e Puh"_fi"fl- 84 Mallison & Co pt. FELS Psulflwrmlesnle trade generally quiet, with total volume averaging NEW YORK, December 12 (). —Bar 1% Curtl; - anhatElev mod g 8 15 per cent decrease; retail sales satisfactory. o Wiver casier And % cents ower ab 39% 1 c:'ru:'\:m Abess 6 Manhattant Shirt(1) 1, 6% Baltimore —Hollday buying aiding retall irade; net profits, however, THERE 1S NO SUBSTITUTE FOR SAFETY tenta, & Cutler Hammar. ST e . : 5 EEEEEe S g through this Association will instill A t £ Relly-Spr T 8% pf. s By the Assoclated Press. reduced; wholesale reorders - #Continued on ¢ ‘ = = —