Evening Star Newspaper, January 16, 1932, Page 13

FINANCIAL. »x A—-13 UNIWORTH OF CHRISTMAS CLUBS |DEMAND FOR LUMBER STUEKS\TURN DUWN TO BANKING HOUSES DOUBTED |EXCEEDS EPRODUG‘I"ION FINANCIAL. LARGER 1532 BANK YORK STOCK EXCHANGE 5 Received by Prirate Wire Direct o The Star Ofee. ) 1 Stocks sold in 100-share lots exeent thess desirmated by letter o™ [ CinIL— Stockand Bates— ot IN SMA[I-ER E ' A . . ' PRUFI]-S FUREBAST o ‘Btock and | Sales— e, e, | un Clow. Dividend Rate | Adtg0 Hltb Low. Clows OhEy Analyals of Cost Involved in Handling Orders and Shipments 45 Per Cent s High. Low. Dividend Rate. _Add 00. High, Low. "z'ifi = 2% 13% Goodyear T&R (1).. 16 16% 16 164 — % + Above Cut for Week of ém 2 Abitibi Pwrl;:p‘tr g‘: :*‘: P ’éu I{ Goadyear 1st pf (7) 1 B5% b55% 56% — % A h N p fi ve Cut for Week o 2 4% Abltibi Pow & Pa pf. % % Graham-Paige. 19 4 3% 4 ccounts S ows [s] ront i . 2314 3% Adams Express..... 5% b% B% — | 18% 7 Grand Union. S 8% + % January 9. Bankers” Journal Expects| 3% 3% Adine i . M 204 26— % 4 10 Oreae Mo ooty '8 124 1B 1= % Market Acts Weary Today \f I . . i N 11% 2 Adv Rumley. . Grigsby G cesd b 4 1 1% Firmer Money Rates to 20, 124 Amiisted i 145 374 4 Gult Siates Steel.: Lot i Ater Week of Unusual or Institutions. o Il Fexedttgy s s % 47% Alr Reduction (¥ 9% 1% Hahn Dept Stores 2 ow, lumi m! experienced an in- Lift Earnings. S S R €3% 14" Habn Dot Stpf(6%) 19 Advances. Ressarch the | balances bet et inpea et v o Dol E 81 n a - ), , legraphic re- 55% 1% Alleg Cppfx$30 w.. 103% sa“ g:::;‘:;’::‘r:g;e?:)ph' sg mond analyzed the cost of the bank's and $400, 3 between $400 and $500 and | POrts from 673 leading hardwood and BY EDWARD C. STONE. 1 €4 Aflied Chamicad (1) 37 10% Holland Furnace (1) 11% BY GEORGE T. HUGHES. e e b 6 accounts between $500 and $600. Softwood mills for the week ended Jan- i % 10% Allis-Chalmers(50¢). Ll 19y 2 3 A ‘hrist S ATy e National Lumber Manu- stiendug A1 B ea el e| L K Auserestcamtll) “ %1 132 83" Homestsrend o7’ 120 B D T e cluslon that the club was not & source 13,250 for 2,000 Accounts. facjurers® Association, showing orders over the United States in 1932, accord- | 298 14 Am Agri Chem(Del). SR AL Bonas ket 0 NEW YORK, January 16—The stock | U800 B088 0 €0 8 o ding | ,This makes a total of 2748 per cent | anc, shipments each 45 per cont above ing to the American Bankers' Associ- | 129y B8t Am CanCo (16):.... — %] een 18% H oy 3 market today acted weary after a week 2 J ‘the | Of these savings accounts which were | production, which for three mills ation Journal. The Journal declares | ‘say 41, Am Car & Found —~ %} 008 /2% Haumten il 20 of unusudl advances, with the profes- | to Rosser "‘}fv"-sv ;‘“'Kf"m“ € [ nrofitable. Figured roughly, this rep-|amounted to 91,631,000 feet, A week .that bank eamings should be larger | g6 204 Am Car & Fdy of ( e e ‘?l{’ (n-w). 1gu sidnal element disposed to dccept some g?k&flfi:flxmfip&‘geg "in a0 ar: | resents $11,000 in cash in profitable ac- | earlier 769 milis gave orders 43 per cent, during the coming year, one Teason | 4gg 304 Am Chicle (13)...... 8 = %1 25" TR oo sase ’)1-) 108 of their paper ‘profits and to walt for | He'e ‘5 it QUL s O e A“x | counts, With average balances between above and shipments 70 per cent above being the higher interest rates expected | $31, 7% Am European Secur. 9 —%| e s n Motor (1). the absolute completion of those de- |ican : $100 and $600. There was an addi- |8 cut of 78,334,000 feet. “For the during the 12 months. 5I% 6% Am & For Power.... 89 —% % Hupp Motor velopmenta in Washington and in Chi- | Summary of the dats uncovered by the | Hiunin 89,030 of profitable. ssvings de- | week hardwood orders were 93 0 et Washington banks have had little [ 7914 10 Am&ForPwr2dvof. 6 — %789 9% Ilino tral. cago that, underlie much of the change 'flflmyfllm {‘{‘;muor;’g- Plan X of | Posits in three other accounts with bal- above and shipments 96 per cent above cause for complaint during the past| 64 a7 Am Home Prod ¢.20.. 6 78 25 Illinois Cent11(4). in speculative sentiment. Virginia found itself in !msmn of | ances ranging from $600 to $900. production. Both orders and shipments year, some of them covering the full | 31y 10% AmTee (D)........e 2 —%| 86 21 Indust Rayon (4)... Prices slowly reacted more from lack ms’w;: e et the | 0 _short, 2000 club accounts were of softwoods were 40 per cent above the year's dividend requirements long be-| 26 5 Am International.... 8 — %[ 182 25% Ingersoll Rand (4).. of interest than from the size of offer- | <o rfll'g & d'-‘i"“m“ tion; | responsible (probably) for $13,250 in cut. Yore the end of the period. A good| 30% 6 AmLocomotive..... 3 + | 9% "2U InsurSh(Ma)(2s0).. $8%, s the market dropped back into | State, 16 aaked s & qhestnls|profitable savings deposits. Of course,| Comparison by {dentical mill figures many extra dividends were also voted, | 848 29% Am Lo'motive pf (7) 1 =i :; 4% Interboro Rap Trans, about the same valume of trading & & | 99’505 5ccounts?” there was no way of finding out|for the latest week with the equivalent as well as bonuses for the employes.| 43% 16 Am Mch & Fdy 1.40.. 1 =¥ ]2‘4 4% Int Agriculture pf. .. week ago. Losses of & point or more | ““) liminary cost analysis revealed whether some of these accounts would | period a year ago shows: For softwood, The banking situation of the country | 7 1% Am Mach & Metal 1 % 3 IntCarriers.Ltd 50c. Socurred in Tnited States Steel, Amer- | A Breliminary cost antyys F¥en e nat have coms into the bank aven if | 436 mills production 42 per cent Tess: .88 @ whole, as viewed by the A. B. A.| 64% 11% AmPwr&Lt GD... 13 - %l 4 % Int Combuation..... ican Telephone & Telegraph, Allied | & 140 y b Urue | the depositors had not had Christmas | shipments, 32 per ce Y Ppublicution, has these prospects 102 4414 AmPwr&Ltot (). 1 Z 3| 39% 3% Int Combustion pf..s loan Telephone & Teleraph, Aimg. |for any bank with & Christmas Club, | Glub sccounts. Since the cost o the | 38 per cent gl DR “Whereas the year 1931 brought & | &4 34% AmP&LtptA (5).. 2 | 04 22% IntHarvester 1) S ion Pacific apd’ New York | DAmely, that the average amovth of|bank of handiing the thousends of de- | Jeaf ago; for hardwoods o3 il pro- - . oints. an e value e T o . terest rates held abnormally low by| 37% 7% Am Rolling Mills.... 19 —%| 20% 7 IntNickelof Can PO aruall I & narket | of ‘todaya|| SO cossic handiing the accounts. the $13,250 in available cash, the K o5 oot beiow the veliza. e i e artificlal means, losses from the mu- | G 174 Am Smit & RE(500). 19 -4l s % IntPeper&PwrC. % | character, the fluctuations were out of Three Sources of Value. is obviously not profitable from the | year. kPt merous commercial failures, a flight of % 75 AmSm of D! - = nt Shoe (3)....... n ' standpoint of mgu!)n vings deposi deposits and withdrawals of currency | 424 28 Am Snuft (13%). 2 38% T4 Int Tel & Telog(80c). % wmnognfi%::\;:fofihmu chnsmt:nll:rélu%ult;“ e of ech velue % -————._.—.u S mfig‘fim? rl?:i.émlgr s Sottoon pod_en ;‘,’3:“;:‘222};‘%?::.‘,’:;;“,, Tl s Horyd cramiosl) 1 80% _16% Johna-Manville (1).. % | Corporation, bill by the House indicated | to the bank, FPirst, as & means of in- mills. totaled 117,041,000 feet, or 40 per Hhen, the year 1932 will doubtless wit-| 60 84% Amer Sugari(@)scco a5 15 67 Kaneas ity Southa: % &J&:’é‘?}‘%gfifiifiefifif?‘nfi fim: t‘dv;:tfinln:, reating smong COT TON |MPROVES :fifs”s"g& jihe gmgicg%x& of the same ks the testoration of some banks to | 108% 8414 Am Sugar Refpt (1) 6 arstadt (Rudolph). e o el oyalty an: same week Rashia es2 18 5% K’'mann Dept Stra(1] % | Week. e other hand, the possi- | good will for the bank; second, as & were 116,870,000 feet, or 40 b e ol o seneh wné) Jl AR a5 e S GEE ! = 8| Bl 0 ity ot o dree | Soiopr OF it i ot | DURING PAST WEEK| %o, Sty gzzoicion: Frocuesen o v . n 37 % Kelly-Spring Tire = ou e of regular savings e . flglfllx‘fiuflég . vt | 132 A e T 26 B Kelly.Sor T 8% of.- _ | nized In Wall Street and have produced D ounts by ojub. members, and third, Reports from 218 hardwood mills give D very, the only alternative being | 80% 23% Am Water Wks (3).. 12 29% 3 Kelsey-Hayes Wheal 1|8 more cautious feeling among those|as a developer of loan volume. Then new business as 15,376,000 feet. or 93 Y ead insolvency of the country’s| 11% 2% Am Woolen Co 1 15% 6 Kelvinator Corp..... = 1| Who recently were extremely optimistic | the Research Department got to work |Steady ~Undertone Maintained per cent abave production. Shipments D sions, wis rere' e aation of | 40 15% Am Woolen Co Df. 8 60 20 Kendall Copf (6).-. T 1 | over railroad stocks and railroad junior |in earnest. The cash loss on Christ-| . 3 N P s the samo. week yers which is assured to any one who has| 4 % Am Writ Paper ctfs. 31% 9% Kennecott Copper 50c = | op | Tas Club accounts was certain (as the With Advance Highest 674,000 feet, or 96 per cent above e e T O ey their fnan-| 43% 9% Anaconda Copoer.... 29% 15 Kresge (SS) (1.60).. T s |_ The market opened irregularly lower, | fuller analysis later proved conclu- 5 ‘;’:"t"“cmn» Production was 7,979,000 Al condition as shown by published | 36 13 Anchor Cap (240)... 55 264 Kress (SH) Co (J1).. Tpus | With losses at the start confined to|sively). Were the other three possible Since November. 5 o i Shown by published | 23 35 ‘Armour of Del ot (1) 27% 4 Kreuger & Toll 1.61). 4574 | smell fractions, as it reflected the check | values purely fictitious? cports from 407 softwood mills give “anrckswru And dncome atements. | 73, 20, Armour of Il (A)... 35% 1214 Kroger Grocery (1).. 5 1415 T 4 |given to the rallying tendency on Fri-| The first question was that of the unfilled orders of 441,988,000 feet on DN pecause of frmer | 2% % Armourof Il (B). 874 40% Lambert Co (3) 2 54 T 5 | Cay/and elvo'thaiownien) thithw Ton- [ ninberiet Frepeatst a8 ioprosed to) the | (27 the Atkoclated Frsee Janiary 9 1952, or the equivalent of 11 N “ - g > nced a W) s D it joans| 29% 6% Assoclated Dry Gsa 30k o ioney owens Oinss, 1 B i i ueas upon e Weeks | how many went to oher banks? 'In from forelgn. and - domestic. trade s ; yould be materially increased, It thee | 0l 7ol Atcn To & San Fa(d) IR I b Owens s B L a2 [ prees T et s | S0 60 Same 1dek 35 now best to | well as Trom commissen house sources PUBLIC SERVICE OUTLAY mereial and secured accommodation. | 21 7% AUNELCSNUES (1) B L 2 tquid Casnono (R) g 1K 16w 17" 2 X| by oo Depastment. of 'Commerce: 1 | has made. Whlch Ioaicated 1hat 88 pex | OF Hlocks and. pands. snd o beier . q;ofl?%n&?‘fi’g:;ef ‘:;r\:?xmamn; 27% 4% Baldwin Locomotive; :t 229/: !I:;:v;;,cfnnm). ) li zgg‘ G ?;;fmz;m‘;fl "X’flr m:hn cuuendu- year | cent of the accounts in th: 133350?“&; g:;x?emgtsrd::d tfi'::‘d'nnm-mu ‘mbellle:fl;: OF $12,250,000 PLANNED ks and at the same time have en- | 10414 16 Baldwin Loco pf.... 21% 10 Lorillard e 19 1 A T e e e e e e hanced the standing of the conserva- | 87/ 14 Baltimore & Ohlo. ... B4% 29% Loose-Wiles (13)... 2 34% ~ % | cambar were off 333 per osmt from 1931 club was larger by several thou- | introduced, in Congress would improve | 8ecial Dispatch to The Star. tively = mapaged institutions” the | 801 25 Balto&Ohlopf (4).. 35% 17% Lou Gas&ElA (1X). 1 21 e e R G S e E L S DR ST T credit conditions. ~Better demand for |, NEW YORK, January 16. — The Journal concludes. 664 18 Bang & Aroos (3%).. 111 20% Louisville & Nash(4) 3 27% & | fmnorts were downl 27 e Wiila l canase inderiylny ek skarger ooy cotton goods early in the week and |boards of directors of ' the Public 1134 80 Bang & Aroos pf (7). 19 4 Ludlum St 1 % 5 s th.fi e &Wee L per cdmcflo !b; ditions might be reached, 2,000 ac-|continued firmness of the basis in the Service Corporation of New Jersey and Better Trade Year Forecast. 1414 4 Barnsdall Corp'n S I MCa I Cory i 5 - e Gt ou:go i ;a a r: -‘;1 e ox; :?s :?é‘:duh‘::f"‘ ulecgfd at random, di- South, where farmers continue to hold | it operating companies have approved Local bankers today predicted that| 254 12 Bendix Avietion 266 12 wemmureporext 5. 2 15% = e e e D T e e Ll P, B LR L B e Ao 9 o lts twandiiot there will be an increase in retail trade { 704 37, Bethlehem St: 43:9 12'6 ;(cKoelnortTP ). 6 5l —1% | countries, Tesulting in a commercial |into size groups (50 cents, $1, $2, $5), | Advices from Germany to the effect Including amounts to be in Washington during the present vear | 1o5;l 60" Bethlehem Sti ot (1) ey o =% 2'3‘5‘1"00‘6%33‘“ for the year of only :‘ek;%uu truths valid for one group|that she would be unable to make |Projects initiated prior m'fiffif—‘} ki which W reflected in an 3 0 . = ,000,000 against $781,000,000 in t be neither valid nos re » 29 6 Blaw Knox (50¢) nor applicable | reparations payments and the resigna- ( 1932, total expenditures f o ithay ;and bank deposlis, THeiSRob| 1 o B AiNmai) 4% % Mallison & Co... ] % + 14 |1930. Imports of gold last year ex- |to others, tion of the French cabinet tion’ by Pu o ke Sl roail trade In the Capitel fn 1931| %5, 30 Sonn Ay eene %] 61" 25 Manhat Elev gtd (1). 90s 34 +1% | ceeded exports by $145,000,000. For the B e e e A T e anly 3 ner cet below the totall doi 3% BertRlolliyiin 1 =%| 3 e Mannatmlevmodstd 18 $is 34 1| cceded exports by $143000000. For the | o5 per Cent “Non-Repeats” | was renewed desmandd foom the oomie | than $11500.000," of “whieh. appi for 1930 is considered highly gratify-| “ge a1 244 9% Marine Midld (1.20). 8 11% 11% 11% — %|gated over $1,000,000,000, as .;fi;n Of the 2,000 accounts, 40.8 per cent |nent and buying R e o | mmatal 3Ti000.0000 af which approxt- ‘Another cause for moderate Te- [ gou, F 4 | L0E SLOEstHGnMatoRCar.. BE . LA S i 14 — % | exports of $582,000,000. were in the 50-cent class, 41.8 per cent | Was fairly wll ‘maintained. rgnxm 1‘m—11y 411000000 will be spent iy the Fiing is the report that retall trade| 22w s Brockway : 32% 9% Marshall Field (2%) 4 13 124 124 — % in the $1 class, 14.1 per cent in the $2 | advance March co e o o depasbTiedy Audigs 50, joty in the fifth Federal Reserve district| gos 811 Bklyp-ManTran (4), 61 i 81% 12 Mathieson Alkili (2) 3 15% 16% 15% class and 3.3 per cent in the $5 cll.:s, around $6.50 to ;cl.l'ltzwwlunflg B ’r@u Expen t‘iepan.me.np B el 6 pey cant for the full % ATl 5 16% 5 Mid Continent Pel 3 6 &% 6%—%| CLEARING HOUSE FIGURES. |This gave an av mar] 2 e general | Expendifures by the electric depart- e O etter record than was scored | ‘o 3 BrUtlferm & Rwys. 1 T h%] 814 7 MidlandSteel (3) 1 9% 9% 9% — 4| washington clearing house 5 ive ansSveags cTomsectioniaf AT Tallina e TS pet sl Do e T adrei ahe {yl-nyififl it 1L L Resarve disicts, | 6 1% Bugg (BG) Mrg...oi 1 T e L O Mo et % Itedavanealdn 45080 figures £0r | rinted and data relating to every con- | points ‘above the Bnmm lo:voa Rk Sii‘ém? r%fl{-nfi{mex"fifidm o iin t ! easy to wipe out the 2 per| ;g 2% Budd Wheel. 1 arie. ] + 4 P4 U Ao ceivable le of the cli takin; e n es and equip- cent decltme in trade in 1931 compared| 1ok 3t Bulova Watch. o 45 5% MStP&SSmlsd (40 1508 114 1D 114 R The object was 1o e ndl:alx‘:cctel.egf??rb;de m&%}“i‘ffi'nf’u‘;‘& e mment, new high voltage lines and sub~ itk ‘1930, pankers say, through the| 3gu 10 BurrAdd Mch (1)... 1 _ x| 2% B4 MoKanaTexas.... 6 T 64 64 —% Declares Gas Dividend. as well as the practical truths, because | T-cent level for July absorbed offerings oquipment. No majof costrue- George Washington Cebration “Sup-| 31 15% Bush Terminal(Z%). 1 =l R D Keos&Texaspf. 1T 13 185 19 | NEw YORK, January 18 (P)—Th e e E i e T s o, RasTenaiydad o i DugVE e only half, guarter or even one-| 205 3 Butterick Co. 5. 18 g Gy ssour! Paclific. - Coliimbia Gas & .—The | frequently become urgently practical | cussions in the trade of th bility | —_— “eighth of the visitors expected by the| g9s, 10% Byers (A M) H T %] 107 12 Missouri Pacifiepf.. 24 20% 19% 19% —1%| ;g as & Electric Co. has de- | ones. of inflation of comm et | “Unclean” i the cha o U igher sét of retall trade fig-| 45 10% CanadaDry {120)... — %| 4T% 15" Motor Products (2).. 1 23% 23% 23% —1x |33 convertible preference stock. The oy theRdndings) ol il aniall, \WhS Del SR DAY Sade Cecaily el o0 e oodssy, . Englant, _post » ~| 45% 10% Canadian Pacific1%. 30 — | 19% 5 Motor Wheel (50a). 6 _ 'y | dividend is payable Feb: pre ary analysis, showing that 68.8 |effect on sentiment. $656,000 instead of the contract ures in the next 12 months,” one finan or 1(508).. 1 6% i 6% — % pay: ruary 15 to cent of the 1! of $425,000. cler declared today. 25 17 Cannon Mills (1.60). 8 + %| 36% 8% MullinsMfg........ 1 11 11 11 stock of record January 325. 1081 daete e s saet s Y eather ol i Bou wate — y 16 414 Capital Admin (A).. 1 T %| 18% & Murray Corp. 10 ‘6% 6% 6% — 1| This is the first dividend payable 4n espite the increased member- | still considered unfavorable for the Quality of Business Is Vital. 131% 834 Case (J 1) Co.. 304 g P B L Al S dew preferted atock. (and 1o T D ne it | D: - It Sboved frther thatithe larger | moversent andifeld work; :buk, (ascords 16% 52" Case (7D) pf (1), 308 F)%| Ti0n 15 Nash Moters ... 8 18% 1T% 18— %|the ann 3 percentage of “non-repeats” was in the |ing to the Weather Burea First M ahis is the way that Craig B. Hazle-| Y15, 10, Gaferpilar Trac (2). 29 1| 10% 2 Natacmeco 2 3% 3% 3% the announcement made by the com- | smaller-size groups. For example, 711 ture {rom recent rains e e irst Mortgage Loans wood, former president of the A. B, Ai] 1o 2% Celaness Corpasssoer 9 %) 10 CvdNatBelaHess L 81 % % & B e o e lTvious pay. |per cent of the 50-cent class 1ot | the sofivio & comaiftrania ehtose: R * ook at mmbusmw_ kot 10 G e e 9 W 1?3* 1?3% fl‘:fi{"“?i ‘:_?5’,,__' ,; 1;2,‘ 424 42% — % | ihe snnua; :“:N:rmfinb;vu in at rgpflt. and only 60.8 per cent of the |crop preparations are sald to be ua Lowest Rates of Interest and Commission : { g cEome Who manage nking oty | e 'y Curoderises 0.1 14 b RS e T R R e e e e e e Higher for ® spectacular increase n| igvs 23 Ghes &Ohto (24) 11 46 % so% 20" NatDairy 2.60). DIVIDENDS DECLA each higher-size group, The figures |degree of attention % e ey laree | oomas J. Fisher & Company. lnc. sines T . 274 Ti Chi Great Westn pf.. 2 -5 N - oncerned, mas e report of the Census Bureau on ubscribe focussed upon free services as apparent- 5 76% 10 Nat Surety (2). Club is (2] it o the! fundanicual| [\ 2k HOUs L MIELER By B 0 — %| 145 4% Nev Con Cop (406). NEW YORK, January 16 (#).— L R annTeneie Jomestic. consumption for December of It costs only about 1% cents Aot wilich ke ‘@sbected of wbank; | Lok 25 Ch EISIEA A . 8 — %| 132% 24% N Y Central......... Extra. with * Cigareties, | soft’ drinks and | estimates, but. w slightly below trade || per day and 5 cents Sundays to ““Tne icb of bank management is to| 118% 3., Cni% Nortwestn BE 1 T 88 25 NYChicagok StL o Pe. Pay- Hidrs of | matches. | riet eitect. AL the dos ot toroont| ] - uaTe Whahington's bestzicwspas ! conduct a safe and liquid bank at a s e e L +2%4| 94 5 NYChi&StLpf.... 2 15 15 15 Late Bnas Rate. riod. able. ~record. | The evidence all th ose of the week per delivered to you regularly 15% 3% Chi Pneu Tool. 8 e Erie & E RR..$5 .. Jan. 2 Dec. 2§ h e way through |the market displayed a little hesitan i pront: Unless It & safe and profiable | 35* 5t Chi aeu Tool ot 3 4| L, 101, NY&Hariom @100 op 220 18 a2 —o |Rogtneme & RS - points to an Unprofitable contact when | but trade buying continued and the un. || g’ oo 6 2nd Sunday morn- t cannot be of maxmum service in the BE e A . N Y Investors....... % 2 rtown ) o ressure is brough h 2 o 4 ! community. T, volume of business i e DA e = S 1 oNT NHAHoH 83 20 omh 20— % At ] Fog accounts, and éartgc?x?:::ymwgggc T i e ¢nTclephone National, 5000 and means. nothing not linked with| ;07 15" Gn{RI&Pac7% pf. 3 Fp " team pf (6)..... 50§ 90 90 -3 : club member has his sole contact with T T e delivery will start immediate- 5 5 - NY K = Reduced. Rou Lo A L I IR S I G| s Y e Tt B2 T3 gt pr TS an 4 e e BRI SIEIE 8 P Salaries of lm stars in Germany are |t the end-of cath month - | Jear has little or no significance if the| St 25/ SItY deskFusl (B4 ot = %| "29% 10 " Noranda Mines (2) T8 14w 13% 13w s'g:'!:':. ':v.". Ta130 9 Feb. 1 g2 Larger More Valuable. befng out Sfoscliomes net earnings fail to keep pace.” o 11 2% North Am Aviation.. 1 3% 3% es Eng Wks. 5c Q Peb. 1 ;.n. 2! ; X & 0% 141 Northern Pacifio3).. 20 22% 21% Omitted. been printed in pamphlet form. It dis- 48% 11% Columb GAEL(b1%), 88 — 5| 19% 5% Ohioon. Ducus SN 0% Pocples Tos (B did the #1 class, and that more of the THE WOODWA D closes that notwithstanding the disturb- | 109% 724 Col Gas&E| PLA(8). 2 5% % Oliver Farm Equip. 3 1% 1% Saplew Joe (Elte) $5 class came back than did the $2 UILDING ed and uncertain financial and eco- li;* xg go\um\(\:ll K‘urbnr;o()S) tzs -1 gg:& 12% 8::5 lsit-evlmr (z“)" 6 22 2045 21% — | Tottenyl s class, proving that the larger accounts 15th nomic conditions which prevailed & Comm Credit (1.60) .. + % el s Steel prpf. 4 14 +3 are more valuable on a loyalty basis throughout the year, the low rates for 92 52 ComeclCred 1st(6%). B50s + 13| 113% 102 Outlet Co pf (7) 110 110 +4% Regular. than the small. An uuts!ge aymlyus and H Sts. N.W. money and the large cash reserve which | 25% 15 Comcl Cred pf B (2). 108 Z1s| 39% 20 Owens 1l Glass (2). 4 21% 20% 20% — 3% | AllianceIns (Phib §1.36 & showed also that accounts secured it ‘was deemed necessary to carry, the| 34 ~16% Comcl Inv Trust (2) 5 T T e OIT T BN 3% 3% =% Allisd K1d b (. 41673 Q {Bough prassure’ were uaprofitaile oo .:' company earned a net profit of $18.69 2114 6% Comel Solvents (1).. 21 — 15| €915 35 Pacific Lighting (3). 1 39% 39% 39% — % fi: Alfltde\:lnkslflrf"n rx,usu Q the loyalty basis and that many per- = per share for the year. This was more| 12 3 Comwith&Sou(ioe) 43 — %| 26k 7% Pacific Mills..... .. 1008 10% 104 10% +11 |, Bf . Wae @ sons did not know the names of the In the selection of your office, an in- Phan sufficient to pay the regular divi- | 100% 46 Comwith&Bouof (6) 3 T 34| 11% 3w Packard Motor (40¢) 14 5 4% 5 + 3 |Am Meler' o - banks that carried thelr Christmas Olub : 4 dend of 12 per cent and an extra div- | 1058, g7l Consol GasX ¥ (). 61 %6 oo oparn blog s a4 a0 A0 nAT | Srmpete Ll Gk Sors - eamslogt, In. the Babis of paraing spection of. the Woodward Building, 3 “ ! - S5 5 Cland 15¢.1% . 3 The report is the first to be signed 107 88 Consol Gas NY pf(5) 3 P 1 8% 11 Pathe Exchange (A). 7 % 2 2 Do. 2nd ... 109% & their deposits over to fellow employes wi i i = by the new president, Harry G, Meem, | 1% % Consol Textie ooooe 4 i | e e G Banknd” shoo B0 8 9 for deposit, had never been in the'lobby ::' its exceptionally high standards, ho was elcted to fill the vacancy 4 o + % | 44% 26% Penney (J C) (2.40).. 5 29 28% 28% — %|pInc DL........SLT5 Q o! e even when their ledger wi i fe 3 e caused hy the death of Jobn B, Larer,| 30 4% Contl Baking (), 2 PR| % I ey ot . 25 2w 21% 22 — o |BRETI G &P Ldde & cards showed 30 and 40 deposits. convince you that this is where you The report states that the trust depart- 4 on e b I T 4| 296 107" eoplesGas(Chi)(8) 22 120« 116% 117% —24k | Camden Bire Ins 9 The next question taken up was the should have your office ment had the best business in its his- D L — %| '80 b% Pere Marquette pf. 15 16 16 +1%|Sentury Hurs Te pt s value of the Christmas Club as a source S tory and that all other departments Cflnfl 3310:'2 o Te. 2 — 8| 10% 2% Petrol Corp of Am. A6 D6 o6 S g Shiesor Mall i Or A for regular savings accounts. In this made records that compared more than s et =L 25% 6% Phelps Dodge Co.... 2 8 8 8 + %|Emp Tit Guarantee sl Q connection, the names of the members | A tside si favorably with the previous year. gg::} e g 124 2% Phlla&Reading C&1 1 3% 3% 3% — 3| Fault T Co (Wilm);s1 @ Were chrecked against the savings files. | n outside single office may be had for i % 2 - % hillips Petroleum. . = was found that 4. P Potomac Land Bank Election. '« Contl Shares oY} SR I 4 EnliaRecslis 1 4 G | meme S e o $25, or a suite can be arranged to suit The following have been re-elected Corn Produets (3)... 6 Z | o 2614 Pirelli (A) (m3.13) 1 28% 28% 28% +1% | GPhedwernicks By opened savings accounts since they be- . officers of the Potomac Joint Stock Coty Inc. .. Ay Fing t i 2 34] S Shezeimicks Reas your requirements. 5 A 8% 21 O Radl %| 15% § PittsbghScrew&B 1 8% 8% 3% — %|_Co 6% pf...... Q %m as club members, 7.4 per cent of é’;,“fi f:y?:( Géi’{gfidx‘\f?r}‘?e ,%'ens:_ 381 i é:gil-;yc;u . 2 4+ %! 28 12 PittsTermCoalpf.., 90s 12 12 12 5:.’;’.’.’."%5' < O 48 G he $1 class, 10.8 per cent of the $2 0:0 J § assady, e sident; i Ryt 4 - % 8 % Port R Am Tcb (B) 1 1% 1% 1% Lk, 3 s class and 10.7 per cent of the $5 class. Vermor Gowin, vie president and sec-| €% 1 Crown Zellerback... 1 ’ T| s 4 PosmiTelscavlest. 1 8 8 8 —% gfi&ifi Ec:i‘ ;?Eu':s % This made total of 6 per cent of li ¥ = e it = 26% 5% Prairie Pipe Line.... 7 % % — % fater »! e members who had opened regular e anmual meeting of the Fidelity | 106 36% Crucible Steel bt (1) 208 48% 48y 5 b Lynich Gorp.o. L1508 & T Bulldl:xei nual meeting of the PIdeUtY | "4g% 29 Cudahy Packing. (). 1 e Gl i T S8k ;ro:z:’g-nx::r;z.tn), Wb AT ATl ) el & L 8 i savingswctounts; 16 should be noted Rental Office, 510 Woodward Building B onowing oficers and trustees | 100~ 20 CurtisPublish (). 2 30 30 30 —1 | ey 49 e R B b e i P thatiasifaniasfieaulan Buings Idenone were re-clected: Rufus E. Milor, presi- | 118% 70 CurtisBubllshpt®) - 1 86 8 85 105 18" PublicSvoNIpf (6) 1 S ok Sue it FeoamebTicdm e HATIONAL s1e dent; Harry J. Miller, vice president;| 5% 1 CurtssWrgnc ... 8 G X 1k B e RvaNIAf(6) . iwpt s& (68 —ju| Bee i b Scoounts. i Marcus Borchardt, secretary; John L.| 8% ™ o 4 ¥ or 5 n:mm‘ D e ieany| a0 iss Cashinanaori(8). 105 Ta i % 1:5: 1::& ;:}Jlléfnivéu’:p:(%(”k 21l 1;(‘);: 1;3& 1;% : : N.;,( Inv Shrs e, i Balances Under $100. RANDALL H- HAGNER & COMPANY Leo E. George, G. P. Bickford and Capt. 3% Davison ChemI e 8.5 5 5 — 1| 11% 3% PureOil 14 4% 4% 4% Heow Amst Cus.. Q The average balances of these sav- Charles O. Shaw were elected to the | 64 Delaware& Hud (9). 2 824 821 5215 — 1| 101% 53% Pure Ofl p 108 60 60 60 o e Q ings accounts were then analyzed in board of trustees, to serve with the fore- | 10% Diamond Match (1)... 8 14% 13% 137 — 3| 55% 10% Purity Bakerl 13 18% 13% 13% Nor N Y Tr (Water order to find out whether this 6.6 per going six. Fred B. Rhodes was renamed 6% Dome Mines (1).. 8 84 8% 8% — %| 27w 6% Radlo Corp 99 8% Th 8% — %|pioes NDeoriiaiibe M cent was constituted of profitable or general counsel. | 11 Dominion Stores t1% 1 15 5 B 20" RadloCorppfAd. 2 32 81% 31% — 5% Fes b pfl:rrt;l;nc-blg “tel?gdmlg{m&fi;rhe 6.6 . Announcement was made of a 3'; per 42% Drug Corp (4) 17 53 s % ‘ -~ Q onstitul savings ac- cent semi-annual, or 7 per cent annual, 50% Dupont de Ne 72 = e BTRa L Lo i » | counts, meaning that 131 out of every dividend on the participating stock and | 94 Du Pont de N pf(6 5 6f S RRSeclC (3%).. 1008 114 114 114 + % 3 ?;2.00‘;‘};1: sm:;:r::bers“hzwlr opened regu- a 2'; per cent semi-annual, or 5 per | T 15 _ w| 97% 30 ReadingRyCo 2). 2 40% 40 40 -1 ehrolled ng dub(;:nmbe? ter they had cent annual, on the nonparticipating. % Eitington-Schild 6 30% 1% Real Silk Hostery... 1 38 8 3 A Of this number 33 accounts had & Bank President 20 Years. i 7i4 Eitington-Schild pf.. 8 _ | 19% 1% Remington-Rand.. 1 fayits s q F L e eThioY bt e s ponk Sict S0k 20 Elec AutoLite (4)... 19 10% 2% Reo Motor Car(40c). 3 3% 3% 3% Q balance between $20 and $50 Bl st aa ot tha Bedtral A o 94 Elec Auto-Lite pf(7) 108 + 14| 25% 4 RepublicSteel... 15 6 5% % — 4 3 had balances rangin; = 359 5100 Fan Natlomal Bank & Trust Go. marks n 7 £ 2| s skinepublisStasl nf R EIAUE R EIZE S 2 This ‘makes 8 toialeof @947 per ‘o YOU ARE MAKING A e R T b vt 215 Elec&Musical Instru 17 " 7| 754 69 ReynoldsTobA (). 40s 68 68 €8 Q Hepe L L , . e et e i 9 ElecPwr&Lt(1)... 33 ~ | 544 8214 Reynolds TobB (). 29 39% 39 39% Q G EAYh | Accouutalwhiens had ahesd of s bunic He fin e with | 0 03 ESEWA Lot SRRt iy e B O a Ml N s o i DEFINITE INVESTMENT : = 3 26 3% Rossia Insof Amer. 1 64 64 64 + % S e la e nic i hiere weret R with i 41 Elec Pwr&Lt pf (7). 2 4 . 4| _42% 13 Royal Dutchof NY 11| 697 38% Safeway Stores (5) » president of the Federal-Amer- at 1 Bank and now is the| 351% BiAcie TatDEoR(d) when you: place your surplus funds;; leading e in the institution which 5 e ¢ - : 15 Eng Pub Sve (1.60).. H % 63% ‘i 6). 20s 82 82 82 +2 he created by ta the Mer- 1 1| 97% 63% Safeway Strspf (6). e e e % 9% 9 — w| 108 71 SafewayStrspf (7). 50s 91 90 90 —4 AND BOND AVERAGES 3 stockholders at the annual meeting that 13 12 + 62% 3 Sth-SanFrancisco.. 10 6% 6 6 — % By the Assoclated Press. n our i — 34| 76 4% StL-SanFranpf..... 4 9% 9 9 —-% SATURDAY, JANUARY 16. X i the bank increased its net earnings this 1 5 5 13 year by $31,000, 20% 3% Savage Arms. 11% 8 Schulte Retal 6% FIRST MORTGAGES STOCKS. e e — 3 Fed Water Service A 4% 4% gl hod 20 Bid BhFire In(2.60), 3 2T 271 65 30 SchulteStorespf(3) 40s 25 25 25 5 20 < ock Fully Subscribed. 85% Filene's Sons pf 6% .. 508 90 90 ST BesBptA B s Industrials. @Rails. Utilities. i V' Y 4 ¢ PR T, 41 First Natl Strs (2 3 7 B = by eaboar Ly i e .S 7w e ot , FlrstNadSus 34) 3 4T AT 4T -l enil g0) Sears Rosbuck (%). 69 3tk 38 3 — k) | Previous day.... 68 353 1060 b You will know exactly what your at ar 11% 3% Servel Inc...... P - 5 8 g f . o i ) R eterced atock of isk Rub st pfconv 30s 1. 1 L eryaline oo B b ok T ul-| Weekisgo. ! 353 1013 Over a Third income from them will be and yo Rubber Co. had been 8 Foster-Wheeler. ... 11 11% 108 % 8% o g ) e Month ago. X 95.0 } you ully sibserbe or' ak 3100 8 share 5% Pourtn Naclov (130 L 1o 1o By Sehallr g A LR Year ago. 1614 of e have a safeguard for the security of* et ‘tarnings of the company for 1931 ) A % . ree years ago. 200.7 . { ¥ 2 r 2 % b L] . . the ment_ said, were sufficient for Freeport-Tex (3).... 11 19 18% 9% % Shubert Theatel e Five years ago. 103.5 y E:i,";',’;}:,i divie on, first and sec- 28 Gen Am Tank Car(é) 2 32% 32 e e e Conse Lok = Migh, Jani a8 203.9 | Century yoir prlnCLpalk because these mortz red stock and to leave a sub- 9% Gen Asphalt (2) 2 4% 1y 127 1y Ofl..... 1 3% 3% 34 -% 0wy =32 92.7 | A ages are bac! rativ | stantiel amount for common stock. 915 Gen Baking (2). 1 1% 65" 15 Bhelly ol vE ww 3 154 14% 147 — % | | High 1930..... 281.3 Without a gages i ed by con§er\atxwelfi e ——_. 95 Gen Baking pf (8)... 208 98% 98% e o e RS s eeek [ATOR 180 1465 | appraised improved Washington real : NEW YORK BANK STOCKS 1% Gen Bronze 4 24 24 21 8% Socony-Vacuum (1). 66 104 9% 9% — % High, 1929 353.1 | Loss , 1% Gen Cable. ... 1 2% 2% 2% + 3| B4% 28% Southn Cal Ed (2). 4 32 81% 81% — | | Low, 1929, 156.3 | estate. e g; (‘jm gz" Fl(fl 32% 99 33 —1 | 109% 264 Southern Pacific (). 6; 6;% s‘tz'/- 3—’;* —l’: 5 ‘ e 22% Gen Electric 24% 4% — 7| 65% 6% Southern Railway... 2% — NEW YORK, January 16 UP).— e B s tao s i it 11k N E ]l e i isouten SRTERA TS S M be fascdili ; H Bank Stocks. 281 Gen Food Corp (3).. 20 35% 3414 34 —1y;| 13% 2 Sparks-Withington.. 11 3% 3% 34 ay purchas in amounts Chase ... ssnevepsanciy 0N BB 1% Gen G&E A (b6 % stk) 4 2% 2% 2K 16 9 Spencer Kellog(80c). 2S00 S0 S10 S £ szso o~ MR GCREY l 20 Gen MJLE (D). 1 34 33 3¢ 2014 10% Stand Brands (130). 20 18% 184 13% — % rom ¢ up. First National New York. . .. 1550 1850 21% Gen Motors (3). 45 23% 22% 234 — &, | B8% 254 Stand Gas&El (3%). 12 324 30% 3l% — % : 79% Gen Motors pf (§)... 1 85% 854 85k — %| 64 2% Stand Gas&EIpf (4). 1 40% 40w 404 + 3% 2 21 Gen Ry Signal (5) 5 25% 254 25% — 14| 61% 234 Stand Ofl of Cal(2%) 16 26% 25% 25 — % Gen Realty & Util 1 1 1% 1% 19 7% Stand Ofl of Kansas. 2 10 10 10 Two years ago. Gen Theatre Equip. 9 1% 1 1 — 3| 62% 26 Stand O1INJ (12)... 87 29% 28% 28% — % Three years ago. L & . 1‘? ‘1:: }g 18% + 14 gl. 1% Sterling Secur pf,.‘. ; 2:% 1% 1% —% High, 1931-32. 55 55 -1 | 40 164 Sterling Secur cv pf. Low, 1931-82.... i imbal Broae e’ 2 2% 2w 2% —'w| 21% 4% Stewsrt Warner..... 1 6 —w! | High 1930, National -2100 925 15th St. N.W. Glidden Coprpf (7)., 10s 43 43 43 41 B4% 9% Stone & Webster.... 10 13 = Low, 1930. s . |1 lm golb:lD(Adol’t;). ‘1' ‘g ‘91 6 — ul_26 9 Studebaker Co(1.3 2 12 =% High, 1929, . 0! ust ( % 18 — - : 4% Gola Duat (3).xnee 8 180 10 18 T X T 2yTaneelsutagrash 40, 3 a5 W' | Low, 198 THERE IS NO SUBSTITUTE FOR SAFETY 10 GoodrichfBF) pfase 3 144 144 14— . " (Continued onghege 144 ... z 2 5