Evening Star Newspaper, January 22, 1932, Page 13

LR A_L}_ THE EVENING STAR. WASHINGTON, D. €. FRIDAY, JANUARY 23, 193 YORK STOCK EXCI STOCKS ARE FIRM [P oo corpomaTion DUSINESS A SEEN T e Coval 66's 46% Firestone T&R pf(6) 55 —2% R d S 1 f AE - f - %| 63 First Natl Strs (2%) 451 —1% 2 aplL ettlement o airs o Carrier Shares Prove Feat- P S i Insolvent Institutions. FINANCIAL. BANK NAMESFOUR |~ NEW YORK STOCK EXCHANGE |Government Circles Expect 2814 34 Adams Express..... 5 AN 4% Fisk Rubber ) Cashier Also Elected at An- 50% Adame Exp pf (5) i B Fisk Rubber 15t pf .« % 3 Addressograph (1).. 12% 12% 12 Wi o3 11% bed 3! Fisk Rub 1st pf conv 14 Foster- Wheeler nual Meeting of Inter- 20 109% national Exchange. o BY EDWARD C. STONE. 55} 1828, Four new directors and & new| 42y cashier were elected at the annual | 628 meeting of the International Exchange Bank held late yesterday. The stock- holders edded Al- | bert D. Batista, [ | Prank J. O'Con- | nor, Henry Schweinhaut and Robert Wolfe to the directorate the other mem- bers being re- elected as follows Hugh W. Barr Peter Berras, Do- menico Del Vec- chio, Joseph E Heffron, Dr. S. S. Jaffe, Frank J Kaufmann, jr John W. Lyles Jerry Maiatico, and Elias Wein- stein At the crganization meeting of the newly elected directors the following | officers were elected: Frank J. Kauf jr., president; Hugh W. Barr president; Leonard H. Hoy shier; Walte Birch, assistant | cashier; Henry A. Schweinhaut, counsel Henze Announces Forum Plans. The first of a series of forum meet- ings, arranged by graduates of Wash- jngton Chapter, American Institute of Banking, will be conducted by James | C. Dulin Thursday. January 28. at 8 pm. in the American Security T Trust Building, according to announce- [ o™ ment by A. E. Henze of W. B. Hibbs | "o, & Co., who is chairman of the Forum | % Committce. The subject at the open- ing forum will be “Collateral "Loans and Margin Buying.” Some very h ful discussfons are anticipated during the series, which is open to all grad- uates of the institute. It was decided that this year it would be better to have these meetings without any ex- pense attached, the committee agreeing %o omit the usual dinners previous to | the forum talks The other members of the Forum | Committec are 1. J. Roberts. assistant | cashi Riggs National Bank., and James A. Soper, vice president and | cashier. A. E. Henre Lincoln National Bank. The | diseussicns will be open to junior bank | oficers and senior clerks Mutual Building Officers. 2 4% At the annual meeting of the Mu-, ah tual Building Association the following | officers and directors were elected for 25 the ensuing year: Thomas P. Brown, £ president; J. Walter Stephenson, treas- | 18 urer; Thomas E. Petty. secretary, and | 2 Joseph P. Burke, Joseph Dant, Percy 87 C. Brady, Joseph Fitzgerald ard Ma: o Kohner directors. The association is 178 25 Adv Rumley... 3 . AfMliated Prod 1.60. . Air Reduction(741%) Alaska Juneau (50c) Allegany Corp. Alleg Cp pf : Alleg Cppf wS40 w Alleg Co pf x $30 w.. Allled Chemical (6) Aliis-Chalmers(50¢) x Am Rank Note (2).. Am Beet Sucar pf Amer Br Shoe (1.60) Am Can Co (15) Am Can Conf (7). Am Car & Foundry.. Am Car & Fdy pf Am Chain.... Am Chicle (13) Am Colortvpe Am Comel Alcohol Am & For Power. . Am & For Pwr pf(6) Am & For Pwr pf(7) Am & For Pwr 2d pf. Am Hide & Leath pt AmTce (2).. Am International. Am La France&Fom. Am Locomotive Am Lc'motive pf (7) Am Mch & Fav 1.40.. 4 Am Mach & Metals.. Am Metal Co.. Am Pwr & Lt (11 Am Pwr & Lt of (8 Am Radiator (60c) Am Renublies. . Am Rolline Mille. . Am Smit & Rfg(50c) Am Sm&R 24 nf(6).. Am Snuff (43%).. Am Snuff of (6)..... Am Solv & Chemical. Am Solv & Chem nf. Am Steel Foundry. Am Suzar Ref pf (1) Am Tel & Telex (3).. Am Tobaceo (5) . Am Tobaceo B (5) . Am Tobaccn pf 6 Am Water Wks (3).. Am Woolen Co. Am Woolen Co pf. Anaconda Copoer. ... Anchor Cap (2.40)... Archer-Danlels (1).. Armour of Del nf (1) 4 Armour of T11 (A). Armour of 11 (B). Armour of 11l pt Associated Apparel. Associated Dry Gds. Atch To & San Fe(6) Atch To&S Fe pf (5) Atl Coast Line (4).. Atl Gult&West Ind.. Atlantic Refining (1) Atlas Bowder (4)... Auburn Auto (f4). Aviation Carn (Del) Valdwin Locomative Baldwin Loco pf. Baltimore & Ohlo. ... Balto & Ohlo bf (4).. Ramberger of (634). Bang & Aroos (3%). Barker Bios pf (6%4) Barnsdall Corp'n. .. Eeatrice Cream (4). Beatrice Crm pf(7) Bendix Aviation (1). 10, 1% Gral 10: 14 Lide Bl 8 50 1 16 5 1 52 Fourth Nat Inv (110 Fox Film (A)... Frankiin Smn pf(7). 31i Freeport-Tex (3) Gen Am Tank Car(4) Gen Asphalt (2) Gen Baking (2 Gen Electric (1.60) Gen Elec spec (60¢c). 04 Corn (3) Gen Gas&E cv pf(6) Gen Mills (3).. Gen Motors (3) Gen Motors pf (6). Gen Public Service Gen Ry Signal (5). Gen Realty & Utfl. alty & Util ot n Theatrs Equip. . ette Saf Razor hel Bros. o bel Bros pf (1).. idden Co Gobel (Adolf) Gold Dust (234). Goodrich (B F) Goodrich (R F) pf. joodyear T & R (1). tham Sk Hosfery 1-Paige. anby Consol (50¢) and Silver Stores. Grand (Tnfon. ... ant (W T) (1).. Northn Ore(2) iesby Grunow. . . 11f Mobile&Nor pf. 11f States Steel . 26% Hacken Wat pf A 1% 1% Hahn Dent Stores. .. 14 Hahn Dpt St f(6%) 1 Hayes Body Corp... 704 Hershey Choe of (5 215 Hondaflle Hershey. 5215 Househld Fin pf 4.20 15% Houston Ol... . 3 Houston Ofl (new). 11% Howe Sound (2). 261 Hudson & Man (3%) 7% Hudson Motor (1).. 3% Hunp Motors Tilinols Centra Illinois Cent 11 (4). Indian Refining. : Indust Ravon (4) Inzersoll Rand (3). Inland Steel (2)... Inspiration Copper. Insur Sh(Md) (28¢). interboro Ran Trans Intercontl Rubber. . Interlake Iron. .. 16 14 & 7 5 In. Agriculture. Gen Am Inv pf (6). .. Gillatte Saf R pf (5). Grand Union pf (3).. Northern pf(2) 81 Homestake M (7.80). ure on Upside—Trading Remains Light. BY GEORGE T. HUGHES. Special Dispatch to The St NEW YORK, January 22—Strength | in the railway shares rescued the stock market today from a_threatened re- versal of the trend. Industrials were irregular for a time, but eventually they hardened in sympathy with the rails. Speculation in stocks was governed almost_entirely by the outlook for the wage negotiations between the railway executives and the brothershoods at Chicago. As to the outcome, optimism was in evidence directly from the start. Initial declines in the general list were | not shared by the rails, and after the | overnight orders were out of the way | the carrier issues began a steady up-| ward march. Rails Actively Bought. The leader was the preferred stock of Missouri Pacific. in which a strong group was evidently at work. BEsti- mated earnings on the preferred for the calendar vear 1931 run over $3 a share, but it was not earnings that were Tesponsible for today's advance. -Aside from the improvement in the status of the railroads generally, the chances are that a stale short interest was un- covered in the Missouri Pacific senior | issue. Other raflway shares actively | bought included Atchison, Union Pacific, | Northern Pacific and New Haven. Short covering also came into Illinois Central For a time General Motors was under | pressure and the stock broke through the 22 mark. Directors are scheduled | | to meet for dividend action on February | 3 but the stock has discounted some Teduction in the rate and there is a possibility that there may be no cut at all. The selling looked much like that directed against General Electric earlier in the week. It was interesting be- cause of the light it threw on the changed character of the trading A month, ago it was easy to attract a following from speculators for the decline on any show of weakness in an important stock. Generally such weakness unsettled the whole market, but nothing of that kind happened to- day in the case of General Motors, or for that matter to any great extent in the case of General gElectric two or three days ago. Experienced observers drew the conclusion that the line of least resistance at present for the mar- ket as a whole was on the side of ad- vance Tre market paid little attention to the Federal Reserve statement made public overnight. It is belicved that a reduction in the discount rate will come sooner or later and no disappointment was expressed at the fact no change was made Thursday. Foreign exchange quotations early in the day showed the dollar appreciation in terms of sterling and francs. BY CHARLES F. SPEARE. Special Dispatch to The Star. | NEW YORK, January 22.—The sec- tion of the American public that will most welcome legislation among the lines proposcd in the Glass bill just introduced into the Senate is composed of the thousands of depositors in in- solvent banks. This measure offers specific remedies for relieving them and at the same time sets up, under the jurisdiction of the Federal r - tem, a permanent organization Wl job it will be to speedily liquidate bank- ing institutions in trouble One of the most serious of all the | many unfavorable influences now op- erating is the amount of money tied up in insolvent banks. This is estimated t about $1.500,000.000. It produces complete business stagnation in com- | munities where all or nearly all banking facilities have been suspended znd ma- terially cuts dow he purchasing powe: of a large body of American consumers Under the present tem of bank liquidation depositors are slow to re- ceive any portion of ‘their deposits in the closed banks. Receiverships lengthen out into periods of three to five years. There are merous instances where receivers have been appointed in the past year and are moving their families into the affected districts and apparent- |EMPLOYES INSURED AGAINST IDLENESS Minnesota Firm Adopts Unemploy- ment Benefit Plan for Idle Workers. Special Dispatch to The Star. ST. PAUL, January 22—From now | on employes of the Minnesota Mining & Manufacturing Co., one of the world’s largest producers of sandpaper and other abrasives, will be protected against enforced idleness at no cost to them- selves. Directors of the company have put into effect a permanent unemployment benefit plan to be supported by a re- serve fund built up from earnings. The organization has 700 employes. Weekly benefits for those out of work range from $7 to $17 and run for from 10 to 17 weeks, depending on length of service with the company and amount of normal wages. No pay is given for the figst two weeks of layoff. Those eligible to benefits must have a service record of three years and earn not more than $45 weekly. “It will be far more economical and satisfactory for industry to pay directly for its own unemployment aid than to support a Government dole or similar system of taxes,” said W. L. McKnight, “I believe most American | {1y expect to settle down to a lucrative job for an indefinite period ‘The Glass bill provides for a Federal liquidating corporation to be included in the Federal Reserve System. The | by the Federal Reserve Banks in an amount ‘equal to half the surplus of these member banks. There is a Cer- tain asgect of guaranteeing of bank | deposits in this arrangement which un- | doubtedly will meet with oppositior, for there h imber of in- ces in corporate affairs lately where | the strong members of an industry ob- | jected to the imposition of obligations for the benefit of weaker competitors This was the t at issue in the re- | cent controversy over the railtroad frelght increase granted by the Inter- state Commerce Commission. The Ilquidating corporation would have resources of approximately $130.- 000.000. Senator Glass anticipates that |-there would be a steady addition to this fund to be paid from the earnings of the Federal Reserve Banks in excess of the 5 per cent to which member banks | are entitled. The purpose of the cor- poration s not to confine its activities to member banks but to effect the same | advantages in liquidation for those in- stitutions now outside the Federal Re- serve System. 'BROKER LOAN TOTAL DECLINES FURTHER Weekly Statement Shows Drop of $32,000,000 to Low Point Since 1918. Special Dispatch to The Star. NEW YORK, January 22.—The weekly statement of the Federal Reserve on brokers' loans showed a decrease of $32,000,000 during the week ended Jan- | uary 20 to $531,000,000, the lowest since February 1, 1918, when the figure stood | at $510,179,000. This compares with the previous 1932 low of $563,000,000 last week and with $1,757,000,000 on January 21, 1931. Loans for own account were $453,- 000.000. compared with $488.000,000 a week ago. Loans for out-of-town banks totaled $73,000,000, against $69.000,000, and loans. for account of others amounted to $5.000,000, contrasted with $6,000,000. Demand ‘loans constituted $401,000,000 of _the total, against 425,000,000 & week ago. and time loans were $130,000,000, against $138.000,000. The New York Federal Reserve dis- | trict rediscount rate remains unchanged at 31, per cent, |BALTIMORE CLEARING stock of this concern is to be taken| Immediate Benefits From Re- construction Corporation. BY CHAS. P. SHAEFFER, Associated Press Business Writer, Immediate relief from economic dis- tress based on any fears for the future is expected in Government circles to re- sult from the President’s Reconstruction Finance Corporation, By making Government credit avafl- able to ra d to financial inst itions whose investments are tied up in frozen and depreciated resources, it 15 felt that at least five rehabilitative results become eflective immediately, In the first place, Government leaders point the corporation renders sol- vent those banks and insurance com- panies which are heavy holders of rail- road securities In the second place it relieves the pressure of liquidation in bonds by re- moving the need for such liquidation Thirdly, small banks oughout the Nation have made available to them extended credit of the highest grade— Government and Federz] reserve credit of the corperaiion. chasing power of the Nation will be immeasurably increased | through " restoralion of railroad bond interest which might otherwise ha | been declared in defauit. In the fifth place, it is pointed out, ~ |the moral effect of the corporation | should bring out vast sums of money {now In hoarding—a total estimated at | about $1,000,000,000, which" financiers declare is in itself sufficient to stert the way back to business and financial Tecovery. Funds of the corporation are expected to be used largely to check bank failures and to forestall railroad receiverships. U. 8. TREASURYV BALANCE. The United States Treasury balance announced today as of close of business |January 20 was $355,675,252.78. Cus- toms receipts for the month to date were $19,143,401.02. Total ordinary ex- penditures were $7,523,961.46. SILVER V(VIUOTATIOVNS. | NEW YORK, January 22 (#).—Noon Silver futures steady. Sales, 325,000 ounces. Quotations, in cents: January, 29.81 bid: March, 30.30 bid; May, 31.00 g:g July, 31.30 bid; September, 31.40 NEW YORK BANK STOCKS NEW YORK, January 22 (#).—Over- the-counter market. Asked. Chase entering iis fortieth year in succes fully financing home purchasers in the District 1 Insurance Leaders Optimistic. Business conditions in 1932 will be better than in 1931, acording to views | of prominent men connected with the | —"6,& New York Life Insurance Co, includ-| sou ing the president, Sidney 3imon, of | g the Washington office, who made an| ou outstanding record in the Southern| g9 division in the last two ,months of [ gqy 1931; and Agency Director E. D. Krew- | 1291 president. ingustries could adopt such plans.” | The plan provides that In extreme | ] Lo L LR dency. T [ emergency, if the company fund should | ankers B Int Hydro E1 A (82). 9 : [ however, were Bigher | eal. | Decome exhausted, reqularly emploved | Special Dispaich to The Star. | A Borden Co (3)....... 61 3 : Int Matchpf (4). .. 31 234 2 21 Z1% | ings and the 17 -cent decline in sterling | ¥orkers colidibelcalledlion fo conn b L BALIIMCHS, E duiiary 2 O et e Bore Warner (1). & fut Niokel cqCaR 200 RTIBE RIS B e Thad some infliencetin | small poriienict iheliesrmiugs olels | 1 BeUgme el electedipresldont afihy Somn el 1T Boston & Maine RR. 2 ! 5 Int Nick Jan of (7) early transactions, - | Baltimore Clearing House at the an- |Empire Briggs Mfg (1)..... v ¥ ’lml 'o":r‘:'r C... 3 United States Steel, at 453, was off — - lnusll meeting this week, succeeding | Guaranty Bklyp-Man Tran (4) nt Paper & Pwr pf 3 : 14, American Can, at 63, and Westing- : | Waldo Newcomer. | Manutactiirers e (8) Int Printing Ink. b A a, each declined Y, but Bank Elects Officials. | "W. Bladen Lawndes, pre v York ent of the Bklyn Union Gas (5) int Salt (3). | General Electric, at 22, was unchanged. | LEONARDTOWN, Md., January 22| Best & Co (1) 14 SoRis s - i Int Agriculture pf.. Bethleham Steel (2). 42 2. Int Bus Machine(n$) Rethlehem Stl pf (7) 3 Int Cement (3). Blaw Knox (50¢) 3 Int Combustion Opening Prices Mixed. Opening prices displayed a mixed tendency. The rails for the most part HOUSE ELECTS RIEMAN :P' | Bankers Fidelity Trust Co. was elected vice = e Int Shoe (3) president of the Clearing House, filling JAL REPORT OF THE SECURITY son, who have just reurned from the| 15 company’s annual convention of agency | i managers at Miami, Fla. It was at| pu that meeting that an increase in op-| 13 timism was noted, 1932 quotas for the | 23 various offices being based on that| 32y belief 113 Park Savings Annex Completed | %2:‘ 12._ Officials of the Park Savings Bank . issued invitations to an “open house” | 8 inspection of the bank's Jarge and| 3 handsome new annex, which will be| 43 ~10% Brunsw-Balks Bruns Term & Rwys Budd (E G) Mfg. Budd Wheel. Bullard Co. . Burr Add Mch (1)... Bush Terminal pf(7) Butterick Co Byers (A M) Co California Packing Calumet & Hecla . Canada Dry (1.20). . Canadian Pacific 1% Int Stlver coee Int Tel & Teleg (60c) Int Dept Stores (2) < Intertvpe Corp. Tewel Tea (4) Johns-Manville « Johns-Manv pf (7). Jones & Laush pf(7) 45 67 Kansas City Southn. 1% 5'3 K'mann Dept Strs() 24% Kayser (J) & Co (1). 116% 1110, KC P&L 1st pf B(6) | Atchison at 91°, Baltimore & Ohio at 207, New York Central at 347% and | Southern Pacific at 36}, were fraction- ally higher. Small gains also were re- corded by Chesapeake Corporation at 20, Missouri Pacific common and pre- ferred at 10% and 227% respectively, and Northern Pacific at 22% Freeport Texas opened at 1814, oft %, in response to the reduction of the dividend from $3 to $2 a year. Ameri- can Telephone in a block of 1,500 shares opened at 120 off 7, as was du Pont (Special).—The directors of the St.| Marys First National Bank in Leonard- town re-elected the following officers and clerks: President, George W. Joy of Leonardtown; vice president, C. B. Greenwell of Medleys Neck, Md.: cashier, L. J. Sterling; assistant cashier, B. Kennedy Abell; teller, William A Walker; bookkeeper, Miss Madeline Camalier, and assistant T. Lee Mattingly, all of Leonardtown: stenographer, Miss Catherine Greenwell of Medleys Neck, Md. bookkeeper, | the post vacated by Mr. Rieman. A. H. S. Post, president of the Mer- | cantile Trust Co., was re-elected chair- man of the Executive Committee, and | | Heyward E. Boyce, president of the Maryland Trust Co.; Gwynn Crowther, president of the Baitimore Commercial | Bank: Albert D. Graham, president of the First National Bank, and W. C. | Page, president of the Calvert Bank, | were re-elected members of that com mittee. e Company, Incorcorated—We. —the igned. the Dresident and a majority of the board of directors of the Security | Storaze Company. Incorporated, of -Wash- ington, D. C.. do hereby certify that the capital stock ' of the said corporation ' i¢ $500.000. all of which has been actually paid | in, and that_there are no existing debts | C. A, ASPINWALL, President. W §. CORBY, | C. F. NORMENT, W. J. FLATHER. CORCORAN THOM, Directors. 1. CHARLES P. RAVENBURG. secretary of the Security Storage Gompany. Incorporated, | M. Rieman is president of the West- | of the District of Columbia, do hereby swed nat the facts stated in the above cer ern National Bank and also is head of | cate ars tase ta the. best ‘of my Knowieass G 1 1 | the Maryland' div! i | an American Forelgn Power rose s t 8%. |y g TREASURY CERTIFICATES | e Jr o and citslon o e o | *° "CifAs. P. RAVENBURG, Secretary Standard Oil of California at 25'% v | Texas Corporation at 12%, Alaska | ({ ed by i e Rate—Maturit Bid. mn%" T | bank resources throughout the country. | C this 20th day of January, A.D. | Juneau at 1575 and International Nickel | 38 June 15, 1932 008 o loalss o Atsector F ke = Y2 | at 81, were all {ractionally lower. Mar 15, 1932 100 a or of the Federal Re- | %% e oy Notary Public, D. C. O 35 Sept. 15. 1932..0"] 3 100 Organired 1879 52nd YEAR COMPLETED Equitable Co-Operative Bldg. Ass'n JOHN JOY EDSON, President WALTER S. PRATT, Jr, Secretary at 55. North American. at 34%, and exhibited to the public tomorrow from | 100 Pacific Lighting, at 37%, lost % 8:30 am. to § pm. Ofirfals who will| 17 % CatiRon LIS (LEDY . Kelly-Spring Tire greet the visitors include Robert S.| Car Gl A DRIDIS). : Kelly-Spr T 6% pf.. Stunz, newly elected executive presi-! BICARS (1 1) Lo sy Ak} ) 5%4 Kelly-Spr T 8% p dent; William C. Straus: : 116 53 Case(JD)of (1).. 3 Kelsey-Hayes Whee! cashier 8 -5 4 525 Caterpillar Trac (2). A L Sy e e e e 25% Cent Azuirre (1%) Kennecott Copper 0¢ ANSIAGL SAERALE, IR S MEEIOW L S0 Century Rib M pf(7) p O R) O times during the day other officers will! g4, Corvo G Panch (1)s 9 g 2 4 Kinney )Co... also be present, among #them GEOrge| 3g.: 3i. Checker Cab Mrfg. .. A o (58) (1.60). )| E. Walker, chairman of the board; A Ches & Ohio (234) er'.k Toll ‘1li Chel 2%)... irocery Chesapeake Corn(3). iy - | F. Jorss, the new president; George A Chi Grgat WeRtennds 17 Leo Rubber & Tir, Prevost, vice president and general The annex increases the lobby space OELMIS 5 & £ac- ; B 1% Lehigh Valley Coal. Sl 29: extra firsts (90-91 score). 2liia of the bank 60 per cent and the room EDIMNILBIE& Bas DT ‘ G Lehigh Valley R R.. 21%: firsts (88-89 score). 21a2lli; for the transaction of general business e et : 33 Lehman Corp (2.40). seconds (86-87 score) 201,a20%%: stand- by 400 per cent. It is the LI time o . D 6 18'4 Lehn & Fink (3). ards (90 score, centralized carlots), 22. the bank has been enlarged since it b Ay B0l A : il g 39 Liggett & Myers(15) 5 Eggs. 4.594 cases: steady; extra firsts. was started in 1909. The counters are e R A cine 2 . 10 Ligs & Myers B (16) 5 16% fresh graded firsts, 15%; current the new low, continual shelf type Chi R 1 & Pac 6% pf. p . 14 1 Belt (1.20)..... 2 receipts, 14al5. mounted with' an aluminum rail, the LA am ot 1315 Liquid Carbonle (2). 1 o - old-style cages having been removed. Pt e 274 Loew's Inc (14). s o T Childs Company . 9x Loose- Wiles (13). ... 3 10dSLoniliand (R)((1. 490 MONTREAL, January 22 ().—Ken- neth R. Ayer, grain broker, was elected Chrysler Corp (1) 1| ) City Ice&Fuel (3.60) 2 | 10 o :A"“(’fl"";’ & ?"‘“ 5 5 SR president of the Montreal Corn Ex- change, succeeding Guy D. Robinson. 2::; PRl 20% Loulsville & Nash(4) QuuatyPastiod 2 b [\ Zie AR Cua i Btasl - Cocon-Cola (18 e 3 § =214 1 413 McCrory (B) (2).... 5 =5 Vice presidents; L. A. Rosafy, secretary E“}“p.\ffl",’,?n;:,?))' Lo 8 Heonw ML Mr. ALECC. ROBERTSON Soar Aaosiated ety “olg-Palm- . 3815 MeKeesport ; American _Associated Dealers, Inc., O il an: ; Pl B is now associated with LOOMIS, SAYLES & CO. INVESTMENT COUNSEL CHICAGO DAIRY MARKET. CHICAGO, January 22 (/). —Butter, 8733 tubs, weak: creamery specials (93 score), ; extras (92 score), | == ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. and Indiana Ave. N.W. 67th Series of Stock Now Open for Subscription 59, INTEREST PAID ON STOCK James E Connelly, James F. Shea, President Secretary ) $6,124,601.00 Subscriptions for the 102nd Issue of Stock Being Received A Saving Plan That Always Yields Excellent Results While the opportunity is ripe—while vou have a steady income the systematic saving plan of the Equitable should be adopted. Departmental Officers Elected. | Re-election of all officers of the Depart- | mental Bank has been announced fol- | lowing the annual meeting of organi- zation of the board of directors. They are J. T. Exnicios, president: C. E. McCoy, Clyde Reed and E. W. Libbey, RS $2.50 = r Share Over 30 Years of Quality Service | Lawyers Increase the Ea‘r;m;g | —and OTHERS having Power of Your Money Valuable Records Come in and talk it over —Invest in— —to preserve, are invited to 915 F St. 4 Guaranty Yield utilize our Storage facilities, in ||| Pt Boire 07 N L — Senn 090 [N i otz it —are the very highest type in- fWhy use valuable s vestment with absolute safety of your office, when we furnish rincipal and A LR S e Individual Rooms as low as $4 per month Cirventbrierines Denominations as v as $10( i 4 nations as low as $100 —ecquipped with racks to fa- cilitate examination of records, whenever desired? Merchants Transfer and Storage Co. JOHN L. NEWBOLD, JR. President 920-22 E St.—Nat. 6900 Storing—Moving—Packing—Shipping sponsor and distributor of trusteed Colo Fuel & Iron. Mack Trucks (1) . American bank shares, announces elec- Columb G&EI(b1%). Macy (1tH)& Co(n3) x tion of Hans Klehmet as vice president, olumbia Carbon (3) a representing the any in Baltimore omm Credit (1.60). c w : 5 i a Malliso ashington and Eastern Pennsylvania s 19'4 Comcl Credit A (3) C C Mandell I ; 674 ManhatElev mod gtd 4« Marine Midld (1.20). Marmon Motor Car.. Marshall Field (2%) Mathieson Alkill (2) Melville Shoe (2) Miami Copper.. Mid Continent Petm. Midland Steel (3) Minn Moline Pow. .. M StP & SSm Isd (4) Mo Kan & Texas.... Mo Kans & Texas pf. TG T e Mr. Klehmet has had 14 years' experi- omcl Cred pf B (2). ence in distribution of securities. He omel Cred 13t(63%) will make his headquarters in Phila- Comel Inv Trust (2) delphia ¥ | Comm Inv cvpf(e6). American Stores Co. declared the Comcl Solvents (1). regular quarterly dividend of 50 cents | Comwlth & Sou(30e) on the common stock, payable April 1| Comwlth&Sou pf (§) to stock of record March 15 | Consol Cigars (5) Chesapeake & Ohio 1931 net, $3.47| Consol Cgr pr pf 6% . & share; $4.44 in 1930 i Consol Film. ... Safe Deposit Section Meets, i The Safe Deposit Section of the Dis- Bonkers' Association held a most interesting_meeting last at the Hamilt ciers as w president of and State Safe | Deposit Association, ~was the guest | speaker. present from the | Monument Ci uded Y. M. jent Baltin J. Flannigan organization; Charles Stro- | hekn, Howard W. Wharton and W. Corn Prod pf (1).... Consol Film pf (2) 4 Consol Gas N Y (4).. Consol Gas NY pf(6) Consol Laundries(1) Missour] Pacific Consol Textile _ 1 Missouri Pacific pf. Contl Baking (A). 2l i Y o ) 16'x Monsanto Chem (1% Contl Baking (B).... 5 s + Montgomery Ward. . Contl Baking pf (8). . Motor Meter G & El. Contl Can (2%) . Motor Wheel (508).. Con’. Insur (2.40). Mullins Mfg Contl Motor! Mullins Mfg pf.. Contl Ofl (Del) Munsingwear Inc(2). Contl Share Murray Corp Corn Products (3) Monthly Payments if Desired Send for Booklel. “The Success Plan” REALESTATE T MORTGAGE & GUARARTY Nat Beih o CORPDRATION Nat Bella Hess. 5 | Nat Bella Hess pf 1610 K St. N.W. & Nat Biscuit (2.80). Rk National 1403 Nat Biscuit pf (7). Nat Cash Reg (A). ] _ Nat Daury (2.60). ; —— Se—— i ASSOCB{?%N SUCCESS OF MANY e SUBSTANTIAL ~ SAY N H & Hartford 158 Under Government INGS ACCOUNTS WITH oAt ’ Supervision THIS INSTITUTION. 4 START YOURS TODAY (SR A Ea LS WITH §1. A s ) Norf & Westn (112). 8 . . . Norf & Westh pf (4) 208 5 B ; : pen Daily 9 to 5 orth Am Aviation. 3 0 Saturdays Until Noon Nor Amer(b10 % stk) 35 NATIONAL North Amer pf (3).. 1 Northern Pacific3).. 80 5t Olilo O1L [ BUILDING ASSOCIAT (ON] %9 NINTH ST, NW. N HEALTHY INVESTMENT It is just as necessary to keep fit financially as physically, and the way to do this is to employ your surplus funds in such investments as Nash Motors (2). > O e e T E e 3 6% FIRST MORTGAGES Ower a Third You know the day you invest exactly what your money will earn and you have a feeling of safety for the principal which is secured by conservatively appraised improved Washington real estate, Nev Con Cop (40¢).. S of a Century Without a S Shonm SR Rwnr Loss itington-Schild. . ington-Schild pf.. Elec Auto Lite (4).. May be purchased in amounts from $250 up. B. F. SAUL. CO: 2100 925 15th -St. N.Wi~ oa [SYNSE - FESTS New Accounts Solicited No Commissions “ Omnibus pt (A) (8) s Otls Elevator (2%) 20 Owens 111 Glass (2). % Pacific Gas & Bl (2). Pacific Lighting (3). + Packard Motor (40¢) 80% 5 Par-Pub (b10% stk) ational and a buffet lunch followed the m Crown Zellerback. Hans W. Ireland is vice chairman and | 48% 29 Cudahy Packing (4). 1% Curtis Wright (A) stock Exc e today, Mergenthaler TR T . 17% Delaware Lack & W. 6% Dome Mines (1).... 204 Dresser Mg A (3% Canadian field crops in 1931 had an Dominion Bureau of Statistics reported. | the Dominion for the past crop season. 215 Elec&Musical Instru compared with a revised figure of 420,- c Pwr&Lt pf (7). = Oliver Farm Equip 1931 represents a slight increase of ndicott-Johnscn(3) i % o RR... CLEARING HOUSE FIGURES. T " S g T3 Falrbanks. Mors Member U. S. League SUPERVISION OF U.3 TREASURY] THERE ‘- IS :NO* SUBSFITUTE P. Duvall, 3 kers Coty Inc. ... The guests were entertained at dinner 5 20 Creumof Wht(12%) ing, which was presided over by Joseph | 63 20 Crucible Ste ; D, Yerkes, chairman ot the section.| 35 6 Cuban-Am Sugarpt. Earle M."Amick, sccretary {100 20 Curtis Publish (4) o Y 1 Curtiss Wrignt.. Mergenthaler Is Stronger. In the trading on the Washington 7 Cutler Hammer. Linotype displayed more strength. Thir- | 3% Desre & Co ot 14Dy ty-six shares sold at 51% Delaware & Hud (9). 110% Detroit Edison (8).. 3 10% Diamond Mateh (1). ESTIMATED BY BUREAU 11 Dominion Stores 11% = Tia Dou as Afrcraft (1) By the Associated Press 42% Drug Corp (4)...... OTTAWA, Ontario, January 22 50" Dupont d estimated value of $425,065100, as com- Pared with $662.040.900 in 1930, the The Teport is the final estimate of the | c Auto-Lite pf(7) area, yield and value of all crops in % Electric Boat The wheat crop of Canada in 1931 Pwr& Lt (1). .. was estimated at 304,144,000 bushels, e Pwr & Lt pf(6). 673,000 bushels for the crop of the 3 c Storage Bat (4) previous year. The new estimate for k Horn Coal pf... 100 about 6,000,000 bushels over the pro- Zndicott-John pf (1) Charged for Loans visional estimate of November 12. g Pub Sve (1.60). AR 716 11th St. N.W. Washington Clearing House figures = FOR SAFETY for today, $3,317,203.11 & 3 Fed Water Service A, w4 : e