Evening Star Newspaper, January 17, 1932, Page 58

FINANCIALY BOND PRCES EASE ON SLOW MARSE Average for 60 Securities Shows Fractional Loss for Day’s Trading. BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, January 16—The bond market relaxed today in a short session that was marked principally by its dull- ness For the first time fn &uout two weeks %2 swarage for 60 corporzie securities registered a net fractioril loss. The total sales were $6,757.007. around $3.- 000,000 below last Saturday's aggregate. United States Government obliga- tions, closed only slightly lower than on the preceding day. Treasury 4s and 3%4s even registered slight gains Activity in the rail loans slackened perceptibly and the average for 20 of the principal carrier liens sagged 2-10 of a point. In the majority of these mortgages, however, offerings dwindled at lower levels and most of the losses were extremely small Erratic tendencies of bonds sold “at the market” were shown by Chicago & Northwestern debenture 55, which ad- vanced 18 points on a single trade, and Tllinois Central 315, St. Louis division, Which dropped 22 points on the sale of one bond Industrial issues held their own and were a shade higher, but the utilities softened along with tre rails. Price changes, however, were unimportant Foreign loans were generally higher British 5'28 gained a point, German government 7s were up and the 5s were unchanged. Japanese govern- | ment and corporate issues advanced from lp to 5 points. South Americans were firm, loans of Chile and Uruguay gaining substantially. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, Januat; 16.—The fol- Jowing is today's summAry of impor- tant corporation newa prepared by Standard Statistics Co., Inc,, New York, for the Assoclated Press News Tretd. The weekly trade reviews report that there was no indication of an upturn in business last week. The most en- couraging factors wers the low inven- tory and the delay in purchdsing, which denotes a large potential buy- ing power, although the hand-to-mouth policy Is still in effact. ‘The heavier industries are said % be improving glowly, however, most large plants are etill on short schedules and are op- erating considerably below capacity. The Companies. Allis-Chalmers Manufacturing ac- Juired Ryan Manufacturing Co. of Chi- eago for cash Aluminum Co. of America gets Radio City contract for vertical aluminum panels between windows. Borg-Warner Corporation 1831 ship- ments of Borg & Beck, clutch division of company, up 15 per cent. Columbia Gas & Electric declared | quarterly dividend of 37!, cents in new $5 preference stock on common shares: formerly paid cash at rate of $1.50 per | annum. | ‘Houston Ofl of Texas declared 37%%- cent semi-annual preferred dividend; formerly padd 75 cents semi-annually. | Interstat® Department Stores Decem- ber sales off 13.7 per cent, 12 months | Off 1.7 pet eent. | Midland Steel Products—Midland- | Christensét Brakes adopted as stand- | ard equiynent by large truck com- pany and by three axle manufacturing companies. Sears, Roebuck & Co.—Prices in 1932 | Spring and Summer general catalogue show reductions ranging from 11 to 47 per cent under corresponding 1831 prices Snider Packing—Loss in current fiscal year to January 31, 1932, estimated at $1,500,000. Standard Ofl of Ohio—Reduces gaso- line prices 11, cents to 2 cents a gallon throughout territory. Bethlehem Steel—Obtains order for 28 suburban coaches and 2 passenger, baggzage and mail cars from Read- ing Co. Denver & Rio Grande Western Rail- road—Interstate Commerce Commission allows this and several other Western | roads to intervene in opposition to pro- osal of Denver Pacific Railroad Co. to Buiia 800-mite line from Denver to Los Angeles Flectric Power Associates—Approxi- mate net asset value, December 31, 1931, $12 per share combined A and common stock vs. $21.10, December 31, 1930, Kayser (Jullus) & Co.—Common share earnings, six months to Decem- ber 31, 39 cents vs. $1.27. Philadelphta Co.—Net income before subsidiary preferred dividends, 12 months to November 30, $14,748,251 vs. $14.933.890. National Bugar Refining—1931 divi- dend earned by margin of over $800,- 000 Fashion Park Associates-—-December net sales off 11.1 per cent, 12 months off 22.1 pér cent Tide Water Oil—Reduces price bulk gasoline ; cent a gallon along Atlantic Seaboard of | THE SUNDAY ST L AR, WASHINGTON, BOND SUMMARY FOR THE WEEK UNITED STATES GOVERNMENT. —1931.— High. Low. Stock and dividend. 10223 9711 Lib3%s 1932-47 10316 9826 Lib 1st 438 1932 105 5 9844 Lib4th 438 1933-38. {10816 9030 US3%81940-43 10318 9020 U S 3%s 1943-47 10722 9416 US3%s 1946-66 10922 9726 U S 45 1944-54. 114 8 1002 UBS4%81947-63 1991 — High, Low. 101 75 8714 2 102 Stock and dividend Abram & Straus b4 s'43 Alleghany Co cv 58 '44 Am Chain 6s 1933 Am G Chm5%s 194 Am Internation 5% Am Sm & Ref 1st Am Tel & Telsfbs... Am Writ Pap 1 Argentine bs June '59. Argentine 6s A ‘67 Armour & Co4%8°39.. Armour of Del b%s 43 AtchT & S Fead) 4s'95.. AtchT&SF 4596 Atch To &B Fe 438 '48.. Atlantic C L 18t 48 '52. Atl Coast Line 4 %8 '€4 Atlantic Ref deb 6837 Australia 63 ‘56 Austria 78'43 B & O gold 4s'48, B&Ocvikhse'l Balto & Ohio 6848, B&Oref58'95.... B & O ref 55 D 2000. . Balto & Ohlo 68 '$6. B&OPLE&W Vads B&OS W Div s '50. Bank of Chile 6% Bank of Chile 6% s 1961.. Relgium 6s'85. .. 5 Bell Tel (Pa) ref 53 Beth Steel p m 683 Bolivia s ct 69.. Bordeaux 68 ‘34 Boston & Maine 58 ‘67. Brazil 6%4s 1926-57 Brazi] 8s 41 4 Broadwy & Tth Brooklyn Manh lat Brooklyn Unlon &» Canada bs '62.. Canada National 4% Canadian Natl 438 '5 Canadian Natl 4348 6! Can July bs ‘49 . Canadian Natl 50 '63 Oct Canadian Pacific deb 8. . Ceutra: Pacific 48 ‘49 Central Pacific 55 1960. Certain-teed 6%s 1948 Chesapeake Corp bs '47 Ches & Oh gen 4%s ‘92 Ches & Ohfo 4 %593 A Ches & Ohio 4%s B 95 ChiB&Q4Hs Chi B & Qref 5s 11i% S48 104 36 Chi Great West 48 ChiMStP&PG6s" Chi M St P & Padj 5s. Chicago&Nwncy 4% Chi& N W 634836, Chicago Rys 68 ‘27. Chi R | & Pac ref 4534 Chicago Rock Isl 4% Chicago R 1448 A. Chi Union Station 4 Chi Union Station € Chi & West Ind con Chi & West Ind 6%8 '62. Chile Republic 65 1960. .. Chile Copper bs "47. Chinese Govt Ry 5551 CCC&StLrt4%sE'TT CCC&StL6sD.. Cleveland Term 6s B Cleveland Terminal 6% . Colombia 6s J961 Jan Colon Oil 65°38. Colo & Sou ref 4348 L6 Columb G & £d.2 58 '82. Comm Invest 53 '49. Con Coal (Md) 18t ref bs. Copenhagen 58 52 Cuba R R 63’52 Cuba North 5% Czechoslovakia Del & Hudson %8s '37. Denmark 5%8 1956 2 Den & R G West 65 '78. 4 Dodge 6540 Duquesne 4 %5 19| Dutch East Indies Dutch East Indl East Cuba Sug 1% Erie 15t con Erie gen lien ¢s Erie ref 58 '67 Erie 5875 Finland 7s'50. . Flor East Coast b FondaJ & G 4%s French 78 ‘49 French T%s General Cable b8 1 Gen Motors 6s '37. Ger Gov b%s ‘65 wi. German Bank 6s 1938, German 7s ‘49... Goodrich (BF) 6 . Goodyear Rub 65 1957, Grand Trunk Grand Trunk Great North 4%8 ‘7 Great Nor gen 5%8 Great North gen 78 Greek 65 1963. . Hudson & Man - Hud & Man ref 58 Humble O & R 58 '32 Ilinots Cent ref 48 ‘65 Ilinots Central 4% Inland Steel 43481978 Inter Rapid Tran 55 '66. . | 361, Inter Rap Tr 65 sta '66. .. | 65 Inter Rapid Tran 6s°32.. [nter Rapd Tran cv 7s... Inter Cement 55 48 : Inter Gt Nor adj ‘65 | 9915 33 Inter Match 58’47, 5 | Intsr Mer Marine 68 °41.. Inter Paper 68 A 47.... Int Tel&Tel ov 4%8 '35, High 96 1 99 2 9918 918 914 92 28 98 10 .102 30 High 8374 41 3018 867 101 96 100 9245 102% 0 Net Chge 9424-1.08 9820 —.05 | 991 +.02| 90 1741.09 | 8917 +.17| 8916 917 —.06 | 94 97 4112 9830 10026 +.26 | Net Chge, +2 +4 +8% +1% | +1% | 4% | %| ig) 107 1007 107% R1% 102% 9814 100 7 Stock Irish Fr Italy 7s Low. Close. 9416 97 26 988 881 8720 Kendall Low. Close. 81% 35 Louls & Midvale 4 Mo Kan Mo Kan Mo Kan Missour Nat Rad N Y Cen 74 141y 27\ 84m 100% 94 NYNH NYNH NYNH Y Ry 6 100% [ ® 7 99% 73 28 Norfolk Norway Ore Wash 1st ref ¢s Orfent Dev %8 '57. Pacific Gas & El bs 42 Pacific Tel & Tel 63 °52. Pan-American 6584, . Para-Fam-Lasky 6547, Paris-Lyons-Med 6s '58. . Paris Ox Penna cn 418 1060, Penn gen 4148 '65. Penna R Penn 4% Penn 53 1964 Penn gen 65 '68. Penn 63%s '36... ¢ Peru 6s'60 Peru 7 Philadel ¢ Phil&Re: Philips Petrolm 6%s'39. . Pireili Co of Italy 78 '52. . Pittsbgh&WVa 4%4s C '60 Poland 8 Postal Tel & Cab bs Queensland 6547, Queensland 7 Reading Reming- Rhinelbe 7s. .. Rhine Westphalja 6s'62. . Rio de Janeiro 85 '46 Rio Grande Do Sul 65 '68. R0 Grand West col 4s. RIATk & L 4%s Rome 6%s '52. SLIM&SR&Gs'3 StL&S StL&S StL&SanFr5sB'60.... St Louls StPKC Sao Paulo State of 8s " Seaboard A Lref 4s'69. Seaboard A L adj 5s'49. Seaboard A L con 6s Serbs.Croats&Slav Serbs Croats Slov §s Sinelair Sinclair Crude Ol 53 Sinclair Pipe Line & Southwes Bell Tel 55'64. . South Pacific col 4s'49. .. South Pacific ref 4s '55. South Paclfic 43s '68. Southern Pac 4%5 69 ww Southn Pac Ore 4%s ‘77 Southern Ry gen 45 '56... Southern Ry 1st 55 '94. Southern Ry gen 6s '56... South Ry dev 618 ‘66 Stand Of Stand O 4 Swiss 5 s 46.. Tenn Copper 6s B '44. Texas Pacific 58 B 17 Texas Pacific 58 C Third Ave st ref 43 ‘6 Third Ave adj 58 '60 Tobo Elec Pwr T Union Pacific 1st 45 '47... Union Dacific 45 '68. . 7% Un Pacific ref 4s 2008 % United Drug 5s '53. Utd Kingdom %3 '3 U S Rubber 1s1 & ref bs Uruguay 8s 1960. .. Utah Power & Light b Utllities Vienna 6s 1952 VaRv & Virgtnta vabash Wabash Wabash Wabash Walworth 68 ‘45 Warsaw West Sh West Maryland ¢s53. . West Maryland § 148 ‘7 Western Western Union Tel 6% Wilson & Co 18t 68 "41. Yokohama 6s '61. Youngstown Steel 5, 54 57 +3 +4% | 1031 Japanese 6%s ‘34, Kan City South 3s 1950, Kan City South 6s '50. Kan City Ter 1st 48 '60. Kan Gas & Elec 4%s 80... Kreug&Toll 5s ct wi Laclede5%s D '60. . Lehigh Val cn 4s 2003 Liggett & Myers 58 '61. Loew's Inc 6s ex war'41 Market St Ry 7s A 40.... Milan 6% 52 MilEIR & L 18t ref Mo Pacific gen 4875 Mo Pacific 68 A '65. Mo Pacific bs Mo Pacific 55 G. Montana Power b5 1943. . Nassau Elec 48 '61. . Nat Dairy Prod 6%s'48 New South Wales" N Y Cent deb 48'34.....4 N Y Cent deb 65 '35. .. NY Chicago & StL 4%s ‘78 NYCh& SLref5%sA.. N Y Chi & StLouis 6s '32. N Y Edison 1st 638 '41. N Y State Ry 4%s 62, NY Tel 4%5'39....... Y Wes & Bos 4%8 46 North Amer Ed bs 57. North Pactfic 38 2047. North Pacific 4s '97. North Pacific 55 D 2047. North Pacific r § 65 2047 Northern States Pow ba. Net Chge. A +17 +1% and dividend. ee State 58 '60 51 High. Low. Close. . OT2h TG T2 91 828 51%s'48 (war). Nash uni ¢s '40. .- Steel b5 '36. & Tex 18t 4590 & Tex ad) 65 '67 & Tex pr In 5sA 1 Pacific 5s H fator 6% 1947, .. ref imp 6s 2013 +8% + T 45%+16% 109% +1% & Hart 4143 °67.. & H clt 6340 & Hov deb 565 & W en 4s'96.. 84k 2% +2% 6% - 1% 623 +2% 100% + % 100 -1 101% +1 B =% 9418 —1% 9214 ~14 93 5%u.... 744 59 984 100 100% . 100% 101 101% leans 5% s 1968 -34 T6% +1% 88 +3% 921 + R4lss 563 phia Co 68767, .. ad C&1 65 wi 49, s'50... 1, 4%8°97 Rand 6 %8s 82154121 311y 421 23% +3% 37 » 70 57 3 F prin 4s A '60 F4%8'78.. +18 i S W con 4s'33. S Line 4%s'41 O1175°37... 4. 73 84% 53 INJ 58 INY 4%s'61 g ‘55 6410 93% P& L5Ws 4T, Powel Ry 1st 5562 41581978 15t 55 '39 6s B 1976 55 D'80. 98Y, 891 181 9% 6% 105 10ty 264 34 724 581y 1315 14 28 36% 74 62 614 4513 7s 1958 ore ist 4 Pacific 55 48 81 75 United Corporation—Expected to cut | dividend further because of change in| Columbia Gas & Electric dividend pol- | icy: on basis of present dividend income | Baltimore Markets company has about 46 cents a share annually available for common stock Gotham Silk Hoslery—Lowers prices of Gold Stripe line 25 to 50 cents a dozen: no change to be made in retai prices DECLARES DOCTOR ACTED AS INTERNE, Dr. Houck Says Dr. Lowden Was| Under Supervision of Lancas- ter, Pa., Physician. By the Associated Press BALTIMORE, January 16—Dr Prank M. Houck. assistant director of Johns Horkins Hospital. said today all of the work done at Safe Harbor, Pa, by Dr. Henry M. Lowden of Baltimore charged with practicing medicine and surgery in that State without a license was in the capacity of an interne and under the supervision of a leading Lan- easter physician. A warrant for the arrest of Dr. Low- den was sworn out at Lancaster yes- terday by James N. Pry of the Penn- sylvania State Board of Medicine, Edu- cation and Licensure. It chegea he had performed operations which maimed six employes working on the Safe Harbor Dam project. Dr. Lowden remained here pending extradition pro- ceedings. In a statement today Dr. Houck said that Dr. Lowden was a properly licensed practitioner in Maryland and was em- ployed by the Physicians & Surgeons Casuslty Clinic of Baltimore, who are in charge of medical end surgical work arising from the construction of the dam ‘He acted in the capacity of an in- terne at ths Safe Harbor Emergency Hospital and in this connection he per- formed only first aid and dressing meas- ures. All of his work was done under the supervision of one of the leading hysic! of Lancaster, Pa, Dr. ;.ou:k said. fé ‘ Special Dispatch to The Star. BALTIMORE, Md., January 16.—Due to liberal receipts from all points, espe- clally from the West, and a lighter de- mand coupled with unseasonable warm weather, the egg market showed a sharp decline this week with a drop of ap- ! proximately 7'z cents a cozen from top | prices Monday. Premiums on hennery whites have been discontinued dealers and nearby stock will not bring any more today than Western firsts. The market closed today at 18'; cents a dozen for nearby firsts and 17'; cents for current receipts, but mixed, ungrad- be sold entirely on merit at irregular prices With the exception of turkeys, ducks and geese, all of which are easier and »w & decline in price, the live poultry arket holds steady, but demand has been slow. due to the warm weather While the market is still unsettled cooler weather will bring an improve- ment on practically all lines. Capons made their first appearance of the sea- son on the market this week and cleaned up readily at 25 to 30 a pound for medium to large birds, weighing 6 to 7 pounds, but smaller and slips move slow at 23 and 24. Young hen_ turkeys, 8 pounds and | over, show a decline of 2 cents a pound at 28 to 30, and young gobblers, 12 pounds and over, § cents a pound at |20 to 22. while old hens and gobblers { move slow at 18 to 20, and crooked breasts are neglected at 15 and 16. A fairly good demand prevails for smooth, fat, mixed colored young chickens at | 21 and 27 and 18 to 20 for small to medfum, but Leghorns are not so de- sirable and slow sale at 15 to 18. A better demand prevails for old hens, | which are holding steady at 16 to 21 | for fow] weighing 3i. pounds and over, | but Leghorns will not bring over 16 and 17, and all poor. thin fowl, as well as ol roosters, move slow at 11 and 13 Demand for ducks and geese only | tair and the market rules with prices in buyer's favor at 18 to 21 for the former and 15 to 18 for the latter. but stock weighing under 4 pounds will no bring over 12 and 13. Guinea fowl and pigeons holding steady at 25 to 50 each taking up regular firsts in preference, | ed stock, as well as pullet eggs, have to | for the former and 20 to 25 a pair for the latter. No change is noted in the white po- tato market, both receipts and de- mand being moderate and the market holds steady at 75 to 1.00 per 100 | pounds, with No. 2 stock not wanted at apy price. Sweet potatoes and yams in fairly good demand and the market holds steady on the former, but the lat- ter shows a decline of 25 cents a bar- | rel at 1.00 to 1.50, with sweets un- changed at 1.00 to 1.25 barrel Recelpts of native and nearby garden truck continue light with movement slow and prices mostly in buyer's favor at_the following quotations: Kale, 25 to 50 bustel; onions, 3.00 and 4.00, hundred; oysterplants, 4.00 to 6.00 hundred; savoy cabbage, 50 and | 60 bushel; spinach, 25 to 60 bushel, | and washed turnip, 15 to 25 hamper. The live cattle market continues dull and easier, there being little demand and values show a decline on practi- cally all lines. Only choice fat cattle attracts attention and receipts of this sort are light, most of the stock running common and rough. Quotations today at_Light street wharf: Beef cattle, first quality, per pound. | 6 to 7; common to medium, 3 to 5 Bulls, as to quality, 2z to 4. Cows, choice to fancy, 4 to 5; common to fair, | 2 to 3. Oxen, as to quality, 3'2 to 4 Calves, veal, choice, 8 to 813; large, fat, 7 to 7l5; large rough, 5 to 6; common thin, 3 to 4. Sheep, 1% t0 2. Spring lambs, choice, 5'; to 6%%; fair to good, | 8to 5. Hogs, straight, 4 to 4'2. Sows, | 3 to 315. Stags, 2 to 3%. Live plgs, 8 to 10. Shoats, 6 to 8. | Closing _grain quotations: Whei\t_—‘? | No. 2 red Winter garlicky, spot, domestic, | 6234; January delivery, 623; February | delivery, 6315 | Corn—No." 2 yellow, spot, domestic, | 44a45; cobcorn, 2.00a2.10 per barrel. | Oats—No. 2 white, domestic, 35!2a36; No. 3 white, domestic, 341,a35. Rye—Nearby, bag lots, 40a45. Tremors Laid to Sinking Coal. MANCHESTER, England, January 16 (®).-—Farth tremors, attributed to sinking of coal mine strata, were felt | over & wide area about Manchester | today. Doors and windows rattled nnd{ crockery fell off the shelves, but there Was no serious damage, | financial stringency of the city govern- | $32,500,000 in obligations become due | Wednesday 2nd must GOTHAM IS HOPEFUL IN FINANCE CRISIS| Early Solution of Deficit Troubles | Foreseen After Officials Meet With Banking Leaders. By the Associated Press. NEW YORK, January 16.—Though | ng statement was forthcoming, the be- | lef was expressed at City Hall ycslch: day that “a way out” of the present ment would be found soon Mayor James J. Walker and his asso- ciates conferred late in the afternoon| with a banking group comprising Thomas W. Lamont, George Whitney and Arthur Anderson of J. P. Morgan & Co.; John McHugh and Winthrop W. Aldrich, chairman of the Executive Committee and president, respectively, of the Chase National Bank, ard Charles E. Mitchell, chairman of the board of the National City Bank It was understood the conference was called to familiarize bankers with econ- omy measures recently put into effect y the administration with a view to ob- taining loans for pressing needs. The mayor and the bankers said nothing afferward, but the mayor's as- sistant, Charles F. Kerrigan, said the conference was the first of several at which efforts would be made to find a solution, Mayor Walker is said to have stressed the need of haste, pointing out that b> met by refi- nancing and that this is only a small part of the $120,000,000 the city must raise before the end of the year. The economies eflected in each city department are to be gone over individ- ually with the bankers. D. L JANUARY 17, 1932—PART SI FINANCI NEW YORK STOCK EXCHANGE Bales— —1931— Stock and Aag 0a, High. Low. Dividend Rate. \ 1% % US Express.. 124 1/ S & Forn Secu: U S & For Sec pf(6) .. § U S Freight.... U S Gypsum (1.60).. U S Indus Alcohol U S Leather. . U S Leather (A) U'S Pipe & Fary (3 ). 20 U S Rubber 1 - U S Smtg & Ref (1). US Smtg&Ref pf 3% U S Steel Corpa (4). U S Steel pf (T)..... % U S Tobacco (4.40).. U § Tobacco pf (7). United Stores (A)... United Stores pf (4) Univ Leaf Tob (3).. Univ Leaf Tob pf(8) Univ Pic 1st pf (8).. Univ Pipe & Rad Util Pwr & Lt A (2) % Vadasco Sales Corp Vanadium Corp 14 Va-Cora Chem...... va-Car Chem 6% pf. Va-Caro Chem pf (7) Va Elec&Pwr pf (§). 71% 20% Vulcan Detin (4).... 69 Vulcan Detin pf (7). % Wabash RR... 1% Wabash R R (A). 1% Wabash RR (B).. 27% 17% Waldorf Sys (1%).. 15 14 Walworth Co....... 271 6% Ward Baking (A) 8% 113 Ward Baking (B)... 5715 24 Ward Baking of (7). 20m 24 Warn Bros Pictur: 401 8l Warner Bros pf 3. 7% A Warner Quinlan 46M 3% Warren Bros. .. 49% 12% Warren Broscv pf 3. 2! 76% 11 29 1608 (Continued From Page 2.) Met. High. Low. Close. Chre. RN bster W %~ W 3 4w 5014 +6u 8 421 23 +1% +2n + % - % +2 +3% +1% + 3k 50 8 28% 30% 2% 5 West Pa West Pa West I'a West Pa 4 Western Western Western Western Western Western Western Will; Wrigley 3 8 Dividend r payments based xEx-divicend. | 4% in stock b Payable :n stock. n stock % in ‘stock. m Pald stock. Stock and vividend Rate. son Of1&Sno(2). Wesson O&Sno pf (4) Westinghse A B(2).. Westinghouse (2% ). 1646 Wsthse E&M 18t 33 1208 Weston Elec Instru.. Westvaco Chlor 1.60. Wheeling Steel pf 3). White Motors. J White Ttock (4) White Sewing White Sewing Ma pf. Wilcox Oll & Ga Overland Willys-Overland pf.. Wilson & C Wilson & Co (A) Wilson & Co pf...... Woolworth (2.40)...: Worthington Pump.. Worth Pump A (7). Worth Pump B (6) 1 Wright Aeronautical 180 e Payable In cash or stock § Plus 50¢ In special preferred tock D Plus 2%a% in Bales— Add 00. High. Low. Close. Fisenlohr..27160s 1% 1 13 21 708 2508 308 1508 6 9 175 Net. Chge. El pt (6). Elpf (7). Pwrpf (6). Pwr pf (7). Dairy (A).. Dairy (B).. Maryland.. Md 2d pt. Pacifie. Pacific pf. Union (8) & +3 +1% s (Wm) (4) 38 Yellow Truck....... 15% Yellow Truck & C pf. 1708 Young Spring& W (1) % Zenith Radlo. . 6% Zonite Prod Corp (1) s given in the above table are the annual cash e latest cuarterly or sLess than 100 shar TPlus 9% in stock ™ ™% if-yearly declarations. TPartly extra t year—no regular ra f Pius 8% in stock k Plus (eAT—00 TeKular rate.” nPius §% in & Paid this stoa) OFFICIALS ELECTED BY 2 ORANGE BANKS Directors of National and Citizens’ Institutions Name Officers for Ensuing Year. Special Dispatch to The Star. ORANGE, Va., January 16—At the annual meeting of the National Bank of Orange, oldest financial institution in the county, a report of the year's business showed the institution to be in a sound financial condition. The board of directors were Te- elected as follows: Frank S. Walker, chairman; F. B. Perry, L. 8. Ricketts, R. B. Harris, H. C. War- ren, V. R. Shackleford, L. L. Holladay, Daniel L. Porter, Harry H. Gillum, W. T. Green, T. A. Almond, L. W. Hill, 0. L. Mundy and W. M. Clark. Frank S. Walker, chairman of the board and president of the Maryland- Virginia Dairymen’s Association; V. R. Shackleford, L. S. Ricketts and Dr. F. B. Perry were among members of the board who addressed the meeting. Upon the adjournment of the stock- holders, the directors elected the fol- lowing officers: Frank S. Walker, chair- man of board; Frank B. Perry, presi- dent; L. S. Ricketts, vice president; V. R. Shackleford, counsel; G. William Smith, executive vice president; Byrd ant cashier. At the regular annual meeting of the stockholders of the Citizens' National Bank of Orange, a report of the year's business was read by R. C. Slaughter, active vice president, which showed a net profit for the year of $25713.79. While this was a slight decrease over 1929 and 1930, it was a substantial gain over all previous years out in interest to depositors during the year and $15,750 in dividends to its stockholders. The stockholders elected the follow- ing directors for the ensuing year: R. O. Halsey, G. E. Waugh, W. J. Tataum, W. G. Buckner, H. C. Clark, J. H. Bis- coe, M. W. Carter, H, F. Twyman, A. and W. C. Boxley. The directors elected the following officers: W. G. Buckner, chairman of the board; R. O. Halse sident; G. E. Waugh and W. G. uckner, vice presidents; R. C. Slaughter, active vice president; H. F. Priest, cashier, and Marshall James, assistant cashier. NEW YORK BANK STOCKS NEW YORK, January 16.—Over-the- counter market BANKS., Asked Chase Natl . Chat_& Phen.. Bankers Bkiyn Cent Hanover Chemical United State: Aetna Cas & Agricultural Home m: Am_Surety B Hanover Hartford Fire Home Ins Kansas City Mass Bond Natl Fire Proy Wagh St Paul Fire . Sun Life Travelers . FOREIGN EXCHANGE. ‘Quotations furnished by W. B. Hibbs & Co) Nomii London, Parit Brussels. Berlin Rome Zurich, Athens. Madrid, Vienna. schilling Budapest. pengo Prague. crown (nom.) warsaw, zloty Copenhagen, Qslo, crown........ Stockholm, crown pound. ... franc value .. $4.8865 beiga. . ‘crown 18.90¢ . 268c 26.8¢ 19 34¢ J. H. Gillum, | Smith, cashier, and J. M. Myers, assist- | The bank reported $41,273.19 paid | W. Sims, N. C. Bailey, W. R. Preddy‘ MISSING GIRL FOUND Lost Way Returning Home From Athletic Contest. Lost while trying to find her way after | attending a school athletic contest with a girl friend late Friday, Esther Kleper, 12, of 6712 Forty-fourth street, was re- turned home at 3 o'clock yesterday by police, after being found on Connecticut avenue near Macomb street. Esther told her aunt, Mrs. Robert Blocher, with whom she lives, her! friend misdirected her. She said sh2 had been asleep in a shelter near a car stop for some time, when she awakened and hailed a taxicab, asking the driver to take her home. The latter turned her over to police of No. 4 precinct. | The girl, police said, wandered in the opposite direction from her home and had no money for car fare. VIOLENCE FEARED AT MINE MEETING | Harlan, Ky., Sheriff Tells Wives to Shun Session, as He Plans to Use Force to Break It Up. By the Associated Press. to all persons, especially women and children not to attend the mass meeting | called by the National Miners' Union here tomorrow, was issued yesterday by Sheriff John H. Blair of Harlan County. The sheriff added his statement to | that by Mayor L. C. Smith Thursday, | who announced he would not permit | the gmposed meeting and that “the | red flag will not wave.nor parade in Harlan." Today Sheriff Blair said: “Any attempt by the National Miners’ Union to force this meeting will force us to combat with it in a way that | possibly would not be safe for your | wives and children. | “Any such meeting being held in | Harlan County will be broken up and | not allowed. Leaders of the meeting will | | be_arrested.” | Clashes beginning last Spring after | | the strike called by a local union which | had United Mine Workers of America | affiliations, resulted in eight men in all | being killed and for a while National | Guardsmen were stationed in the coal | | fields. Two miners have been convicted | | and sentenced to life imprisonment and about 30 more are to be tried. | | We are ready to form a sep- || arate organization to handle our || sales all over the world. | You can own majority of the stock if you are first to help found the new corporation. Address Box 335-C, Star Office General Insurance Life. Fire, Automobile, Liability, Bonds. Windstorm, ~Accident, 'Health, Burelary, Hold-up, Workmen's Compensation Forgery Thos. E. Jarrell Co. %21 10th St. N.W. NAtional 0765 . Opportunity Young business man, recently from Cleveland, wishes to contact Washington employer. Experience includes insurance, real estate and advertising sales; purchasing and traffic office experience. ary secondary to advancement opportunities. Address Box 145-J Star Office Sal Recent survey of Trust Companies and National Banks reveals this astonishing fact! VER IN THE HISTORY OF AMERICAN BANKING HAS A BENE FICIARY SUFFERED A LOSS TRUSTEED PROPERTY." 1 gold Selling cheeks | 1 today Sound—SAFE—Worry-Proof Fixed—INVESTMENT—Trusis Are protected this way Over 60.000.000 shares sold in yents Complete information on request Bernard P. Nimro & Co. Hill Bids, 17th and Ey, A Natlonai ‘oia ** M B ———— SRS January 15, 1887 “Service Built U —of the establishment of to our many patrons and support throughout these continued fdelity and e matters entrusted to us. JESSE L. | It | | The Board of Estimate, meanwhile, put several large items on the “sus- pense calendar,” including $2,010,000 for towers and anchorage bents for the new Tri-Borough Bridge, On the Forty-fifth Anniversary Insurance Business in the City of Washington, District of Columbia, we exend our thanks and appreciation 1115 Eye Street N\W, January 15, 1932 pon Experience” our Real Estate Loan and friends for their generous years, and assure them of nergetr'c attention to all HARLAN, Ky, January 16.—Warning | M WHEAT MAKES GAIN IN SUDDEN DEMAND Rush of Buying Orders Runs Price Up 3 Cents—Is Strong at Close. By the Assoclated Press. CHICAGO, January 16.—In a sud- den big rush of Eastern buying orders, wheat ran up more than 3 cents a bushel today from early low levels, Rumors that New York stock market houses had formed a pool to purchase commodities at low price levels were | Wheat trading during the | bulge was much the largest that hu‘ current.. begndlwltngueg‘gm some time, com- manding the highest figures since th ml‘t’lvt:e of December. .. i eat closed strong, 17-23; abov yesterday's finish: corn 17331 up, oats 1'5-% advanced and provisions showing 5 to 10 cents gain. 4314-.43% 2613 578 Money on Hand to Loan on First Deed of Trust 67 Interest Reasonable Commission and Prompt Replies to Applicctions JAMES F. SHEA 643 Indiana Ave. N.W. 4 | tural crops in 1931 was approxima! up, | 473477, | 83, "t AL. FARMERS PROVIDED 100 MUCH CREDIT American Bankers’ Journal Holds Excess of Loans Al- most Ruinous. The aggregate value of all agricul- tely | $4,123,000,000, compared with $5819,« | 000,000 in 1930 and $8,088,000,000 in | 1929. Prices of farm products are now only 68 per cent of the pre-war levei. It is becoming increasingly apparent, ys the American Bankers’ Association Journal, that the disastrous drop in prices, income and purchasing power of the farm population is traceable to three principal excesses, to wit: (1) "An excess of productive capace | ity resulting from the large expansion |in acreage in the United Stales, Can= ada, South America and Australia dur- | Ing the war when European production was largely suspended, followed by the | re-entrance of Europe and Russia since the termination of the war. (2) An excess of credit used by agriculture, resulting in a staggering mortgage debt, inflated prices for farm land, overdevelopment and accumulae | tion_ of surplus stocks of agricultural products. The vast supply of credit | granted to the farmers by the banks, insurance companies, Federal Farm Banks, Joint Stock and Land Banks, Federal Farm Board and co-operative marketing organizations have not helped them, but nearly ruined them. (3) An excess of “ald” from other directions in addition to the oversupply of credit. Farmers have been the vice | tims of well-meaning but ignorant and | uneconomic interference with natural forces on the part of their countless “friends,” and their exploitation by na< tional politicians under the guise o remedial legislation is nothing short a calamity, the Journal declares. What the farmers need is to be lel alone and given a chance to recover The abnormally large cotton crop I year was a freak of nature, while thd crops of wheat, corn and other graing were about average or even below, and a substantial reduction in acreage this year is assured. Future productiony must be allowed to adjust itself in _ac« cordahce with prevailing prices. Thid includes eggs, milk and poultry, the prices of which have declined by mo: than one-third since 1929, reflecting overproduction. A great deal of live stock has thrown upon the market because the inability of farmers to meet fix charges and expenses out of the re= duced income from crops, and Ib tock prices have suffered an irregul decline. It is_recommended by the United States Department of Agricule ture that light-weight live stock be held if possible, because of the abun« dance and cheapness of feed, othere | wise a shortage is likely to devek within two or three years, causinf hig] prices, from which the farmers will n¢ be in a position to benefit, the Journ asserts. 2 LOW PRICED STOCKS Every investor should benefit by our latest compilation of 25 stocks which appear to have unusual long term profit possibilities. These 25 represent a careful sifting of the 693 stocks recently selling for #12 per share or less. Recent average | price was $10 compared with $88 in | 1929. The 25 earned a yearly average of $3 per share in the five years prior to 1931. Bach company is in sound financial condition. Besides this list, you will receive 25 Probable Leaders of the Next Bull Market”, “Sound In- vestment Rules” and our next eight | issues—g2 value for $1. Return *ad” with your address and §1 today. | America's Investment and Business Weekly 53-FM Park Place New York THE WOODWARD BUILDING 15th and H Sts. N.\W. In the selection of your office, an in- spection of the Woodward Bu ding, with its exceptionally high standards, will convince you that this is where you should have your office. An outside single office may be had for $25, or a suite can be arranged to suit your requirements. O ”Q Rental Office, 510 Woodward Building NATIONAL 5518 RANDALL H. HAGNER & COMPANY Incorporated They do or interest. Over a Third secured by of a Century Without a Loss exactly 6% May be from $250 HEISKELL National 2100 YOU CAN DEFINITELY COUNT YOUR WORTH —when your investment is in our 6% FIRST MORTGAGES not fluctuate in principal The principal is safely mortgages on conserva- tively appraised improved Washing- ton real estate: and throughout the term of the loan the yield will be purchased in amounts up. B. F. SAUL CQx 925 15th St. NW,