Evening Star Newspaper, January 5, 1932, Page 13

\ FINANCIAL, i BV STAR, WASHINGTON, D. €., TUESDAY, JANUARY 5. 1932. FINANCIAL. xxr A—13 CHRISTMIAS SAVING | [ NEW YORK STOCK EXCHANGE | STOCKS IRREGULAR ™" iq R VEALED In STATEMENTS " Factons ane nores Received by Private Wire Direct to The Star Ofece. ek - By ! BY CHARLES F. SPEARE. carry their” securities as of December - ted by letter *9.” | —i931— Stock and Bates— Net. IN NARRUW RANGE L G s va = UBS UNDER WAY Stocks %old in 100-share lots except those desiEmates Neot. | High. Low. Dividend Rate. Add 00. High. Low. Close. Chge Special Dispatch to The ‘sarlflz:in otth?hg:e‘?cf]is'ffi"z’nmmflf('lis Jo- i Stock and Bales— Low P C . g | g 5 A 5 High Low. Dividend Rate. Add 00. H . Clos e e PR L Hi e, NEW YORK, January 5—The state- | s In spite of this, some institutions aging Signs in Review of 14'c 2 Abitibi Pwr & Paper 1 % 108 % Gito 2 - 5 . ments by banks and trust companies of | paye “written down their securities to | Condi 3 106's 96 Abram Strauspf (7). 10s 95% 9t o o utdoor Adv.. SR f A t their condition at the end of 1931, NOW | current valuations. One New York | Present Conditions. Bankers Expect Memberships | 285 %' Adums Bxpress. L0 30 o Gen Ty Signal (5) 2 Sagging Tendency Apparent, |being published. fulfil the expectitions | {iuct company lists its Holdings of stock | o a: s 22 :dfl.l:::a)(;“]““sa('l e 2 s i i & “T-]W;l)re i o gr h“f;p‘é‘r‘fl’?c“x\‘?‘x tvh“cm‘;oo‘nxmld tf;:k“m;\and bond investments today at ncmaHSN & 2 z 00 80, - : e EQULD o i ig of liquidi g market prices. Other institutions made | to THe Star, to Equal Those of 109% 47% Alr Reductlon(1414). 91 Glllette Saf Razor... 3 but Selling Pressure Is institutions. The average amount of |pery Prarae-ofts from thete. undi.| NEW YORK, January 5.—Seve 7 Alaska Juneau (50¢). 1 2 124 + X Hillatte Saf R pf (5) x : + 5 cash and Government securities to de- | yiqed” profedaccount ageinst losses in | vora st et T Last Year 24, ‘Albany Wrap Paper. 2 Gimbel Bros. . 2 gy Somewhat Relieved. posits at the vear end was approximate- | vueutle ang " in_ commercial loans. 4 bl mefd‘}:” PHISRE MU TUNTI G ot a e 144 Allegany Corp. ..... 1 1 ¥ Y Glidden Co. ly 50 per cent, ranging from 35 per cent | Chicago bank, following this course, | PR Of the year are noted by H 1 “p nf w $40 w. i‘:n]hdelr;Admr:{) 5 5 3 T 0,70 per cent with the different banks. | pas“written down to $1 an investment | E. Heimann, executive manager of the 10 Alles SCeel 606 iold Dust (2 e The exhibits suggest the process o i it | ¥ . 64 Allied Chemical (8). 15 s 62 3% Goodrich (B F). 4 i : BY GEORGE T. HUGHES. HGuldatD it o s iher iy dem do- O Uihi, oy g | XoManRL A3soC NHE O U2 CEudif e I o 100 Allled Ch&Dye pf(T) 1 + Goodrich (BF) pf... 38 L Special Dispatch to The Star. sirable for more marketable securities | cets last year and in the low rates | Pusiness review sent to the associa- P 1015 Allis-Chalmers (1).. : 5 @ &R (1. i < NEW YORK, January 5.—Still sub-|that went on during the greater Part|or interest, returns on bank stocks are st 11% Amerada Corp (2)... g 5 Goodyear ist nf (1). ted to considerable pressure, today's | Of December. The statements of & M- | the smallest in several years, but in a| Mr. Heimann lists the encoura . & 21, 124 Am Bank Note (2)... A 3% 3% Gotham Silk Hoslery s jority of the institutions indicate & |majority of cases they are sufficient to | factors as follow 2 in t Smou 71’ Am Brake Sh pf (7). . tock market moved irregularly lower, | jarger total of cash than of Government | covor the Sresent idlyidendsiiors the actors as follows: (1) Old Inv and the number | 12 5814 Am Can Co (15)..... % 5 o 4 1 (50c) 2 b but the seliing was not quite as urgent | securities. There are exceptions to this ger institutions. The F National $8,000,000 Was| “gg ' 208 Am Car & Fdy pf (1) 1708 ¥ 3 silver Stores.. 5 1 1 e R Aiean o MOnaE rule, however. One New York trust|gank of New York, of which the late (anore 2 $ 30'% Am Chicle (3) i 1 Grand Union 4 s 2 he market was confronted with a|company shows holdings of over $200.- | George F. Baker was president, showed us_ clubs. Am Comel Alcol 7 : 4 y SIS Lol !|Stock Exchange fs immediately | 000,000 in Government bonds and | earmings of about $75 a share on its loca 3 Am European Secur. 2 4 o% Gres a g after the openir S s in which the } Treasury certificates, compared with | capital stock | (5) improv & For Power. ... . P 4 > firm or its customers were understood | $163,409,000 of cash 'on hand and due Rt 7 of the declir Am & For Pwr pf (7). B to be interested sold off, but the rest|from banks. Its ratio of these two items Loss in Deposits. greater effic; :mfipnr:r'whr’zd ;a{ 2 g Hahn Dept S 8 4| of the market ignored the news. Such |to deposits is 60 per cent. | Practically all of the banks indicate dustry. 1 Haw BUSDID), S 5 Hercules Mot (80¢).. 6 6 1 | declines as took place in the general e a loss in deposits dur past year | “In the e Am Hide & Leathpf, 2 e 58 26 Hercules Powder(3), 2 B e b s ontimianon o Forelgn Credits, q . nn(:.lplns?s g Tcwmt 'Telafluw Heimann Am H6me Prod 4.20. 48 Al 5% Hollander Sons...... b 5 5 the liquidating movement in progress| The total Government holdings of 12| 80d In the last quarter of - The fmade of the AmJIce (2).... - 3 A 81 Homestake M (7.80). 2 during the preceding session. banks ,and t companies reporting | reporting members in the Federal Re- | too little of the exis s 5 Am International. bl 6 3 215 Houdaille Hershey . 7 3 it amounts to $770,000,000, but does not |serve system during December showed | nomic problems Juave Am Locomotive. . ... 5 B35 Houachia e of o ] : Dividend Uncertainties. include the three largest New York -n-| & reduction in deposits of $3,000,000,00 | recovery was de ~veial Am Mch & Fdy 1.40.. T 15% Houston Ofl........ 65 vidend uncertainties played a large|stitutions. About the same ratios of | compared with the same period in 1930. ? Am Metal Co.......s 8 5 > 3 Houston Ofl (new).. 3 a | part in_the selling. Before action on |liquid assets to deposits are observed in me time, their total loans and | ing fact Am Natural Gas pf.. 5 % 1% Howe Bonndi(2): - > 13 3% + | the banks of Philadelphia and Chicago ents indicated a 12 months’ | the reve Amer News (3)... 26Y Hudson & Man (3%) : 1t stock had made a new low for the |as those indicated in the statements of | contraction of ~$2,500,000,000. ~These | “Wwe are Am Pwr & Lt (11) 7% Hudson Motor (1) 9 g g { maj same was true of |the New York companies ratios of loss in a cross-section of the | day and we are Am Radiator (60c) 3 3% Hunp Motors....... 1 mbian Carbon, which was put on a| One New York institution with a 50 | banking resources of the country apply | should have been ta Ao ol nE M W i h o G g vl$ 1al basis a t the $4 previous- | per cent proportion of cash and Go n to the so-called “non- | depression to cure ou Am Safety Razor (5) e el g s v paid, Other new lows were registered | ernment securities to deposits also h: ber 3 ills. At this p: Am Smitg&Ref (1%) spndiau MotorGye : y Reduction, I tional Cement, { call loans and loans eligible for redis- | TI review of the Federal |stilling of a sa Am Sm&R 2d pf(6).. e b e - N car Rubber, American Smelting & | count at the Federal Reserve bank and crve Bank of New York issued today | dence can do n Am Sm & Ref pf (7). e ',:h“‘r") SRR H e “ | Refining and Anaconda. The two steel | loans due on demand, or within 30 days, | describes the loss in deposits of banks Jation of buying : Am Snuff (13%). ... S RTnBnDel 1t | stocks which gave way were Ludlum |aggregating $169,000,000. Its combined |in recent months and the relation n(!m speed up th S gniost 10 Am Soly & Chemical. e et 5 S iand Mehers . United States Steel | items of what might be called “quick | this to the decline in the bond market, | - 5 the ek (st » Am Steel Foundry .. ro e R - ; better supported. After the first |assets” amount to nearly 90 per cent of |1t states that “individual banks sold | M Potomac, Telepho Am sieel Fary ot R ARt Mrder o otly to|ts totalideporits. is or reduced their loans in order oney to Loan 3 Int Carriers,Ltd 60c. 3 2 e . | : e aoans s {lities in the D ‘ 4 6. Tni o, 15 15 gain around midday. At that| To satisfy the public interest in the |to strengthen their position. The result, | Secured by first deed of trust on real estate. aryland, Virginia Lo i e 9% ot e %Y. B 28 ican Telephone and General |amount of foreign credits held by | however, was a further decline in the |, FPrevailing interest and commission. Sumatra Tob Joseph 1. Weller 5 oot s % resist- | bank ring as “slow assets,” |market value of investment securities 91, Int Hydro E1 A (e2). 12 4 9 Electric broke through their old resist- |banks and figuring as “slow assets,” [ mar ail hilia e (S IntHydroELA (e2). 12 48 2 Jew T iilance points, but only for fractional|one New York institution found it ad- |and a loss of deposits by other banks, | ot by 00 tunnel or Tob, (5 £ 7 Int Nickel of Can 208 3 “ + ) lied Chemical made a new low, [ visable to state that the total amount |So that those banks also considered it give b v b B (5). 1, Int Paper & Pwr C... 5 in volume., of its short-term foreign credits, subject | necessary to strengthen their position | than| ;g ‘ g bacco pt (6) the utilities were [to the so-called “standstill agree- | by selling securities or reducing their | projects 234 Am Water Wks (3) 6'¢ Int Paper & Pwr pf.. " i > 0 i ! 4 414 Int P % + ind, among them American | ments,” is less than $300,000 loans. This action, in turn, while h district, R s Wis s pELiniing Jok | the strengthening for the time being the First Deed of Trust « Am Woolen Co. 18 Int Salt (3) 9 g Water Works. Homestake Mining d The recent ruling of controller 1 S 37 IntShoe (3). : '+ | tinguished itself by a gain of 4 to 5|of the currency permitted banks to |position of individual banks, merely s reported 54 Am Woolen Co pf | e JOpEr 3 Am Zine & Lead 5% Int Silver., .. points. Coca Cola sold under par, but passed the burden along to other banks l 0 IntSiver till above its old low. Auburn and J. I — | and tended to perpetuate and make pro- 0 nterest I mill at % 0% AnnoondaGopoeT. . | gressively larger the losses of deposits will_employ Aile Chb (AAD): T'x Int Tel & Teleg(60c) 5 J 8 were weak. 1% Investors Equity.... 2 1 g ; and the decline in market value of bank Do 3 Armour of TII (A). 1 145 I0and Cok Conl (). 3 15 ! : Onening guxices '”"“‘!‘"“ CRUDE OIL OUTPUT asccis o the panking eystem as a R“”;:J;:ntcgtmhe:’x e t Gadsden, 3 o — Prices were ir ¢ at the opening whole, | k o 1,000 e S RIS - g% 2% | following announcement from the ros- | |§ SHARPLY REDUCGED | This is a vivid picture of the working | Applications o e A iy 313 ones augh p: f 3 r he suspension for insolvency | of the vicious circle whose sequel was | JAMES F SHEA to op 1 time. Associated Dry G(1) 115% 111% KC P&L 1st pf B(6) 2 + ¥ 3 e Co. — the most demoralized bond market dur- | . 2 2 Al Atch To & San Fe(6) 7 % Karstadt (Rudolph). o + e tes Steel at 367¢ was off | ing November and December in Amer- | " eeks Added Power. 57 A1 Const Line (£). . * Kelly-Spring Tire : ¢ s n Can at 56z was|Drop of 87,597 Barrels in Daily | ican financial history. | 643 Indiana Ave. N.W. the Currency John W 3 Atlantic Refining (1) 6'% Kelly-Spr T 8% bf up 1% i feht, 16520 Tepor Atlas Powder (4). .. 3 3 Kelsey-Hayes Wh 3 2 n Average Production Reported Atlas Powder pf (). 2208 6 Kelvinator Corp. 7 ulw onstru They included the | urn Auto (£4)... 200 5 ' 9% Kennecott Copper 1 1 subscription pay= by Trade Review. P in Nichols A 1% : 114 Kinney (G R) Co.... 2 1 , nts to the National Credit Corpora- ¥y Capital and Surplus, $3,500,000.00 tion Corp (Del 5 2 29% 15 Kresge ( the return to work of more than — e = - g 414 Krenger & Toll 1. : 5.5 10p employes of the Southern | g ine associated Press | S h Y If s Baldwin Locom § 5 + 14 Kroger Gro a 2 3 acific, furth gains s aker = e o T e £ 30EVIRY rpken Giocery : e thiner Eans I Btidcbekel| TULSA, Okla, January 5—Another ow ourse ore & Ohfo.... 47 2 ambert Co (3) a d ase in weekly oil output. The |large reduction in crude oil production | London Market opened quietly. Ster- |of the United States was reported today Wor[hy Of That 1to & Ohio pf (4) 5 9 Lee Rubber & Tir: Barnsdall Corp'n. . 3 4 1 B! Lehigh Valley Coal.. ling Here S o ; Air Reduction at 46% and Columbian | P the Ol and Gas Journal's weekly Bendix Aviation (1). 135 : Lehigh Valley R R. . ‘ arbon at 30 were the first issues {o |table which indicated a drop of 87,597 | Best & Co (2). . 8 2 4 5 Lehman Corp (2.40). c ; i reach new Io ral Electric at | barrels in the daily average. = N / Chrlstmas BOnus Bethlehem Steel (2). 4 3 % Lehn & Fink (3). 4/onenad d. but rose frac- | rotal production for the week ending (2) signs of strong re o g PYOTOTOTT-—A u s 420 Wash. L. & T Bides, ik & F N > EE TP Money on Hand to Loan on 'S S £ SoaunrwaRnameSa Controller S - a s [SYSE-TRIOTES: QT cmmE Bethlchem Stl pf (7) }‘;"b':‘&“]\“{“’ G‘ll"“" 3ohn Alumn (1%)... Lzge vera(1h s et i Lo be = s 4 Booth Fish 15t pf \ Liss & Mrera B (15) Lionally. Westinghouse at 201 also was =% FPOCREHER | S0 ORI N8 Y U b o s o Lima Locomot (m2). unchanged. Atchison se directors v L » | & g i b E‘;‘,‘?‘\'{ ::',n(e.;']( TARIGHAOE (L0 meet for dividend act opened at |rels a day. as compared with 2,288,690 | [ % F 3 starting an interest-cz ] : 7% Briggs MEg (1). Liquid Carbonic (2). 18% Junc °d an _b(’l’)""]‘("‘gd barrels daily the preceding week. | q account at this strong, sult where the o ¥ 1 118 L0ew's c e W0 5 . ks 2 t o] Y P c e mproper prac- Sl = _ k4 547 obRA W es (B0 e Pasco at 1015 was off %.|S o A A% s i 7 Such gifts wi s become 1 persist g"“{’“" I8 s Torillard (P) (1.20) . General Foods, which | caused such consternation among oper- o sources of future profit, in ss of the | 17 el % 2% ki Lorrillard (P) pt (1) mienit |08 \f{}j‘agu;‘“"ga’"‘”y Stndaydciostin £ gl contrast to the temporary only final| 23 3y Buliard Co. .. 3% 3 Lou Gas&E1 A (1%) 2 block of 3,000 East Texas production declined from | | . : thrill of idle spending. il oo Burr Add Meh (1), : ! LN 2 ] at 19%, unchanged. Au- | 315,996 barrels to 290.885 barrels a day. ' ot BAlE S both et 21 Bush Term deb (7) 48 e L G 3 Ity se was unchanged at|The entire State of Texas produced “~<==» Checking & Savings Account ey | 20% 3 Butterick Co 4 31 o ] : 3 Nash. - directors consider | 804,618 barrels as compared with a pre- 9 92 SECOUNLS sult he is UVIng | G9s, 107 Byers (A M) Co %6 157 McCall Corp (2%) .. i afternoom, rose ', to|vious reading of 844,621 barrels. NATIONAL SAVING g iy be power| 1% 3 Calumst&Heels. 5 y E P 1z Mclntyre Pore M (1) % : 153, Power & Light at 10% | Oklahoma produced 492,835 barrels, a N o) 13 1 ably 4 16% 5% Camp W&C Fdy (1) 5 3815 McKeesport TP (4). 32 447 %|and Internati Telephone at 7% |cut of 41,545 barrels. California pro- 2 = body to require af 18 4 2814 Mol St pf A(6 4 4 T oAl 2 o ool 45 10% Canada Dry (1.20). 2815 McLellan St pf A(6). were both a r. but Public | duction was 497,000 barrels, a reduction & / Sae et ?t'..”??;?,f 5% 10% Canadlan Pacific1%. 10 876§ 12§ Mack rucke (1)...... N + %] Service of New v at and Con- | of 1,000 barrels in the daily average TRDS] COMPANY - 33Y% Case (J I) Co.... 300 « 50 Q}n’fll\'fhlzf’-otn!)- 4 5 2| =olidated Gas 56! shade.| Kansas production was down from The Oldest Savings Institution the District of Columbia 10% Caterpillar Trac (). 3 15 Mallison & Co. . .rs Standard Oil of M y at 26 lost | 105,120 barrels to 102,940 barrels. East- 5 : New York Ave S onmestion 7% Celotex L. .ssssssss 108 D = 4 s and equaled its pre ern’ production decreased 1,000 barrels Corner 15th & Ne k Ave. i i 11 Cent Aguirre (1 16 TOUN A0 Y = . a day at 123,000 barrels. Rocky Moun- > 9% Cerro de Pasco (1)--. 36 ManhatElev mod gtd fain production WAE down from 92.274 21, Certain-teed Prod... 1 Marine Midld (1.20). S 9Y LOUDOUN BANKS PLAN barrels to 89,358 barrels. 3% Checker Cab Mrfg... 1 Marlin-ltockwell (2) 2 9 st & N ng 23% Ches & Ohio (2%)... 80 Marshall Field (2%) 1 o ‘be composed of th % Chesls OMITI RIS Mathieson AlKIIL () N 1 | FOR ANNUAL MEETINGS| SEARS-ROEBUCK SALES. PROPERTY MANAGEMENT AR oI = e Lota mnd e Chi Great Westn pL.. P Al o S 105 T CHICAGO, January 5 (#)—The an- | he e roncy, the power to| 8% 1% Chi Mil StP & Pac. 1 SR e I o Bual sales iofal of Sears Rocbuck & | g H ctors of national 24 Chi Ml StP & Pao pf. 5 S teats sl . = ; Ly AL nuary 5—The|co, mail order and chain store firm, Pdftment ouse ectors of nation 5 Chio’s Nopthwatn: 3 9 ‘?‘m a ;\lmh ne (2).. 4| banks of Loudoun County e sent out | 0382107 in 1930 to 814 Chi Pneu Tool....... e Miami Copper....... 3 + notices of the regular a ng “the yi 77 Chicago R I&Pacific. 5 Mid Continent Petm. 514 5l f of the stockho f nstitution, | 08 LA o e et senaed MANAGEMENT " actices i 10t Chi R I & Pac 6% pf. :::umm S,(ael uI) 2 ; s whi h \n:ix be h i purpose of | o "o i 3 recommendation i a » 12 ChiRI&Pac7%pf. 5 Minneap Foney R(3) 9 I electing directors and for transacting | P°f €Snt ; Rl st B iGr the autencolln| 0r L2 QU BI&TRCTRMI U AR TR e In the thirteenth month of its calen- past recc ns to Cc 514 Childs Compan: 10 , ; ] Minne-Moline P pf. . The first meeting to be held will be |9ar, from December 4 to 31, Sears, Roe- . e s e A : . > Pa buck sales totaled $33,167,501, against N 11'3 Chile Copper. . . 1008 6 "% M StP & SSm 1sd (4) = : that of the N g National Bank, | Joo's. ik s o sura tors. - P N P B $39,07 e Two New Insurance Directo e e e 3 4 : which will b Woinocday January | $39.075.133 last year, & decrease of 15.1 S Ze YOU’LL find that our service in connection with the man- tion, and Le p 63': City Ice&Fuel pf 614 1108 68 5 5 % Missourf Pacific. . 6 ] 6 burg, Va SRR I AR man, we 5 92 Cluett-Peabdy pf (1) 50s 9 g 5 2 Missouri Pacific pt. . ] % + %| The People’s National Bank of Lees- PARIS BOURSE PRICES. e of the Fire- 97% Cocoa-Cola (18)..... 106 P 9 Monsanto Chem(1%) 3 burg will hold their meeting on Tues- 9 | i | | president of the e = N Kan s Taxhn s 5 e L Y| ber cent. | B P 25 City Ice&Fuel (3.60) 8 5 H Mo Kans & Texas pf. 2 at the banking house in Middle ! agement of your apartment house properties will relieve you ington and | “g; 5% Coca-Cola (A) (3). 3 5 2 Montgomery Ward.. 1 nuary 12, at 11 ax PARIS, January 5 (#)—Three per 2 ; 1 meeting of gk 4 2 ) t| Morrell (3) & Co (3) 2 2 2 O = L\l deun Vatlona) Back 0t Tieea 78 francs 30 centimes. Five By /N0 of every annoying detail; at v, held yes- Solum %). 69 t 5 Motor Wheel (50¢).. 5 A b4+ o will. hold tegular. annual | per n, 101 francs 35 centimes, . b Col Gas&EL pt A (). 6 E Mullins \ B 3 § 1 ting 4b th g house in Lees- xchange on London, 85 francs | = the same time giving you a 32 Columb Carbon (4) 4 Mullins Mfg pf 8 2 24 k on Tuesday, January 12, at 12| centimes. The dollar was quoted at 25 = 8 Comm Credit (1.60).. 11 3 5 Murray Corp..... 5 1% 1 noon francs 45'4 centimes. 19% Comel Credit A () 212 5 T TR T o 15 5 ; Purcellville National Bank of . - 15'3 Comecl Inv Trust (2 i . ‘ 1 ville wil! weir meeting in ik 6% Comel Solvents (1) sl A T \ 308 S Bh ehplen U Sl SILVER QUOTATIONS. | ; 8 2 Sym: W. Walker and James 3 Comwlth & Sou(30e) 3 31 3ty y h ) 80) P 38 b January 12. a NEW YORK, January 5 (#) (Noon)— | very nominal fee. M. W 6% Congolm-Nairn (1).. £ 5 b x Thi ; 1 Bank will | Silver futures steady. Sales{ 150,000 es Get Under Way 3 42 Consol CErpr pf 6% . 5 53 52 5 R 7 3 P 10l reeting elect their directors | ounces. Quotations in cents: Uanuary, New Offices Get Under Way. 51 Consol Cigars pf (1), 59 69 at Dist Prod (2) . 2 ¢ or the ing 3 on Tuesday, Janu- | 30.40; March, 30.70; May, 31.05; July, rank P. ) 18 Now s % 7% Consol Film pf (2). 9 4 5% Finam & $ 3 5 ary 12, at 1 p.m 31.25. September, unquoted. B. F l lL CO \ ton e 71 Consol Gas N Y (4).. 12 % 5 - 3 i 3 1 The Farmers' & Merchants’ National 8 C %44 Consol Laundrica(h, 2 ' o 0300 ank of Hamilton will elect thelr dikec” | o7 FARTNG HOUSE FIGURES, 925 15th St. N.W. Nat’l 2100 84 donsol Tenmdrics(l) 10% Nat Pwr & Lt (1). ... 2 tors on Tuesday, 9% ConsolRwys pf (6).. 10 Nat Surety (2). P [ Washington Clearing House figures K Consol axtile. ... b : Nat Tea (1 3 3 . = . for today: $5,065,497.60. s Contl Baking (B) % Vs S taan 5% 54 By GERMAN CREDITS PLAN RN L T 301 ContlCan (2%)..... 3 317, el e g s . : 2 s Newport Industrie| S Eon D 3 Newton Steel....... 2. - | IS NEARING COMPLETION| U.s. TREASURY BALANCE. 1 Contl Motors. ... MR b _— The United States Measury balance 45 Contl O11 (Del). i o= i A 2 - i T announced today as of close of business % Contl Shares. ....... et o } ; Bpeciage ] S Arrangements|January 2 was $479.114333.69. Cus- 361 Corn Products (3).. x Ty a1 8 ¢ N Y. NI A Hartrora % 17% 18 o RN,y 8 s short. | toms receipts for the month to date 214 Cotrino. - N YOnt& Western. . ! term credits along lines affording ade- “‘,";lf”"g“‘“g o Mégé e o hd e £10 214 N Y Shipbuilding 2 , quate protection to the Reichsbank as|Penditures were $4,03,403.03. e ‘(.;‘:;“;‘; ) 4 E k ‘ sranda Mines 2 2 - well as satisfa 1 to the foreign bank- . i S P An e r g .2 0 re now within sight of the com- & (.’”"'““"’g"’,d”“ ot 217 W 84118 2 i Tttt ris working nere, this)] NEW YORK BANK STOCKS S e, 1 93 rned from reliable e ey (et e bl A B I 11 % North Am Aviation. : ; Kolixces 3 a 2 orrad il - 904 Nor Amer(b10%stk) 150 ¢ + % is anticipated that the committee’s| NEW YORK, January 5 (#).—Over- L SRR Y 10712 79 North Am Ed pf (6). = report will be ready in time for ample | the-counter market i b . 607 14'4 Northern I 3 5 % | study before the reparations conference | gy, Asked. | usunansp i 5 — meets at Lausanne. Although, as has| 8 piie == o0 : 68 Cushmans pf (8).... 1308 i 2.?.' 5&: Ohlo O1 *| been repeatedly pointed out, there is| Sommerciul N 1574 64 Delaware & Hud (9). ] ) 26 2u $ 8 g 3 3 yretically no relationship 102 17% Delaware Lack & W. % ) e G FSEE isle reparations report and - the | Natl City™ 3 195 110% Detroit Edison (8). p R Coming one on short-term credits, the | Public” ... Sl eg { s 23 10% Diamond Match (1). )4 Sh% leRiOUs Iy f latter is certain to exercise a powerful Wrast Gampaniea: { "fl'fl'fmr facilities 18'3 6% Dome Mines (1).... i 129's 97 Otis Elev. 3 |influence upon the Lausanne negotia-|p. ... BN for the placing of your investment 24 11 Dominion Stores t1% 3 314 O 3 tior Brooklyn 21k 7% Doug Alrcratt(tiik) G a5 Otls Stsel) 503 : there have been no specific|C funds . .. for more than forty years the 3 2 H. L. Rust Company has been making 20%4 Dresser Mfg A (3%4) 40% Ou : % | commi on the findings of the 10% Dresser Mfg B (2). " Outlet Co pf (1)esvse 4 515 | committee thus far, it s believed :lnzp 3 | 42, Drug Corp (4). 4 ey - inag : 14| Germany’s position has been found to| En o Tat trust loa : ; i 507 3 : Deens VDot be much more favorable than at first o first ns on improved properties < Duques Lt 1t pf 180 i 2y Facific Gas & Bl (2).. contemplated. For one thing, it is e: i sl 200 | in the District of Columbia and adjacent = . Pacific Lizhting (3). ted that the total volumne of short- | New Fastman Kodak (18) Packard Motor (40¢) 35 o indebtedness willl f » prove to I | Maryland suburbs. Investors have found 5% liaton Axle& Spr50c, 5 513 Par-Pub (b10% stk). ' 2 | e derably low 1 at_estab- | i 5 Par-Pu 0% » ; rably lower than that estab | the notes SAFE in the abundance of the Hugion s oF 10% 1% + : % Park Utah. . ! lished by the German system of reck i Parmelee Transporty 4 onir Another favorable factor is that | security —CONVENIENT in their de- Pathe Exchange. .... “ the German bankers followed an ex-| el - A 5 Patino M“’yb S g e tr y ative program of bor-| MORTGAGE nominations—PROFITABLE in the Walsh Issues Warnin, & Penick & Ford (1)« after the standstill agreement! 0 . . . . g i e, | 4] et ‘ Penney (I C) x.‘c’n)y. 6! = [ came into force, taking, in many in-| Thvestnent highest interest yield consistent with a Senator I z3 e Jec Stora . 26% 26 >enna Rallroa .o stances, less capital than actually was | ive i Ma S A 5 f 5 Eng Pub Sve (1.60).. § \ Peoples D S pf (6%) available ‘m \(n;‘.’u 2 conservative investment. depositors ¢ a : 9 5 Peoples Gas(Chi) (8) ploited t payment of Sl iy (Copyright, 1932) Secured on residential to ager lvaging funds orie RR 18t pf...... Pat M CR1) ol 2 215 4 * = a e holds 1 wtion, of such T change Buffet (1), Phelps Dodge Co. 2 K SANDY SPRING BANK. property in District of be perforn als, ZIREATIARKEC RE oy 33 i Ay 6 : +| SANDY SPRING, January 5 (Spe-\| Columbia and ncarby || (o] | materially increased return on i : : your investment. And for a MORTGAGE LOANS between | BTy officials. 'ashion Park As pf 5 2 23, Phila&Reading C& I $ g : . 5 5 | 124 2 k C cial) —The annual meeting of stock- . 3 Fed Water Service A, 5 & 4 Phillips-Jones Co. 4 holders of the First National Bank of ¢ - h DIVIDENDS PAID. G4 20 FIAPhFirein(2.60). | : SR 4 b lips Eettolentn 06 |dowes of the Rirst Nauonel Betk wcl| Montgomery Co., Md. = s eecial | lF “ “::;:fi:; _g:nltv;}:ix 3 : ”‘;:: et 4 s 7 ary 12, when there will be an election = D Soisontni | S i Frseions TR aLch ‘ it - 0 g0, e meome n Je i) FIRST MORTGAGE NOTES el WL R T g T : s : e L] 3% 8% : <. On January 13 there will be(| IN DENOMINATIONS OF ra { America, from | 8213 15% Fourth Nat Inv (110" Dod : Pittsbgh Screw & B.o 3% e ; + s . om | 825 16% Fourt! ! ] ittsbeh 2% 8 : al meeting of the Sandy Spring its home amount, $61 88% 21 FOX Film (A)e..esae b Port Ric Am Tob(A). ) Savings Institution, at which there will $250 | | ~ policy holders, or those whose premiums | 431 13% Freeport-Tex (3).... 8 15% 15 5 5% Prairie Pipe Line. ... " % the First Nation: H L R 3w 13 Froovort-Ter oo 5% 4 ; (6% | the it National Bank Bulding at . L., Rust Compan 60 15 GamewellCo (3).... 1208 P, 3 3814 + % y Spring. . Proct & Gamb (2.40), 22 and upwards or those on which premiums are paid . 1 ; g = i i quarterly, semi-annually or annually, [ ,35% /8% Gen Baking @2)..... 8 Public Sve NJ (3.40). 53 50% — 1 Bank to Liquidate. 1001 Fifteenth Street National 8100 premium policies, dividends of $3L-| 35 111 Gen Can e 4 oo R e 113 Gen Cable pt, 0 3 Pl s GErp 3). ; 16% 1t | Upon_ request of its board of directors, 400,000 have been provided i Gen Clgar (4) 3 2 R s on 1 415 + %) the Ohio Valley Bank of Portsmouth Realtors More tha 000,000 worth of matches 2 10% Gen Elec spec (60¢).. 18 Purity Bakeries (2 2 11% + % Banking Department for liquidation. were made in Norta China in the last 28 Gen Food Corp (3)..; 26 & g ity Bakarles (3). The institution was capitalized at 300,000 wa I r industrial 5 60 Franklin Smn pf(7). ]0; bl Prairie Oil & Gas . = o i be an election of officers at 2 o'clock in or the holcers of ordinaxy palicles. | (7 = Sigg Gan Anphait (3). 2 ; Proc &Gamb pt (). 9 91 -1 together wil mediste, moothly | 135 42 Son BAIoERC ()., 203 98 B e ) W' % 8% 71| coumpus, ono, sanuary 5 —|| BOSS & PHELPS oy . 64% 22' Gen Electrio (1.60) s RarelOll 18 L 2108 T e e s (i 10T E 8 NAtiona! 3300 yedr, 1% Gen Gas&El }.(e300) 7.. 1 (Continued on page 14) $250,000 and had resources of §1,145,713.