Evening Star Newspaper, January 27, 1932, Page 13

STORESALESDRUP * INFFTH DISTRIT BY EDWARD C. STONE. Follogng' the recent announcement that retall sales in Washington in De- cember were 74 per cent below the fig- ures for December, 1930, the Federal Reserve Bank of Richmond gave out further details and comparisons today covering all sections of the fifth district. In comparison with sales during the early 1 mon department store sales in the fifth Federal Reserve dis- trict showed the usual seasonal increase in December, but averaged 9.7 per cent less t sales in December, 1930. In for the ve: 1931, reporting the district showed a decline per cent in comparison with total in 1930 an ves of the oods on the sh stores -declined per cent the month of December, 1931, > end of the year were 11.3 per prices, than of 1930. ge of .567 in the year d an average of figure than 3.62 ; year, ber averaged g receivables higher figure vember, 28.7 per ¢ stocks o1 Stocks we tin r than Baltimore, which had kage of 10.7 per cent; above the he district taken of only 2.1 per ear was also the | “Insurance Day” Great Paul D. Sleept mittee appointed Success. | chairman of the com- | by the District of Co- ers’Association during National that the vari- have reported 300 applications on that day, unting to a total 000,000 in ¥ Washington underwriters Hay-Adams h was attended by of the professio greatest as cent of compared with d during the year 1931, was Washington agency of the Mutual Life Insurance Co. Agent John L. Me- new of its agents over 10 agents 10 or fewer so prizes | agency of the Co. under the 2 Adams, and vas won by the Connecti- e Co. under hn L. McElfresh. s obtaining the plications ended Scott and J. W. tual Benefit Life In- for the sec- applications also n F. G Clendaniel f the Northwestern nce C B. & O. Reports Year’s Net. operating income of the road in 1931 was , against $40,248,614 in 1930, se of $14,017,763, according to 1 financial statement made et railway operating income for the nber totaled $1,150,566 arison with $3,067,790 in De- ber, 1930, a decrease of $1,917,224, the financial statement also showed of, co the main falling off in earnings ng the year 1931 was in freigh Freight income for the 12 d $131,977,796, compared ,706,337 in the previous year, a decline in freight earn- ings of $41,728,641. Passenger traffic showed a falling off, also; total passenger income amount- ing 'to $14,801,546, against $18,567,622 in the year 1930, a difference of $3,766,076. There was also a decline of slightly over $1,000,000 in income from express B. & O. made some very sub- stantial reductions in operating ex- penses during the year, The cost of maintenance of way and structures was reduced almost $9,000,002; maintenance of equipment was reduced slightly over $10,000.000 during the year while trans- portation costs were reduced $13,056,469. Fire Insurance Trustees Named. Trustees of the Mutual Investment Fire Insurance Co. of the District of Columbia were re-elected at the annual meeting of the stockholders just held. They include Horace L. Beall, Franklin P. Nash, H. H. Carter, M. Prank Rup- pert, Vincent L. Toomey, Harry Kauf- man and Vernon G. Owen. 4 debating_team of Washington Chapter, A. 1. B., composed of Arthur E. Meade, Departmental Bank; Charles C. Boswell, American Security & Trust Co, and Miss C ace D. Fogle, Riggs jonal, will meet Baltimore Chapter at Baltimore Friday evening. The subject will be, “Resolved, that trial by jury should be abolished,” the al team defending the negative This contest will be the first effort of Washington Chapter in an intercity debate in a long time, the young de- baters having shown marked progress under n of Prof. Willard the inst H. Yeager of George Washington Uni- vers| Trading on D. C. Exchange. owing the action taken by the of Governors of the Washington : Excrange, minimum price re- ictions were removed from the mis- eous securities listed on the ex- Trad on the exchange was Mergenthaler Linotype sold at and Washington Railway & Elec- tric preferred c! Small denominations of Washington Ges Light bonds, series B, appeared on the board at 100%%. Heard in Financial District. The Virginian Railway reports 1931 net income of $5.05 a share on the com- mon stock, against earnings in 1930 of $8.88 a share The Norfolk & Western reports 1931 net earnings of $14.39 per share on the common stock, compared with $21.96 a share in The Pe Fa 1930 ylvania Railroad reports a net operating income in 1931 amounting to $51,055,806, against $92,341,353 in 1930 and $135,017,826 in 1929. Decem- ber net was $2,259,167, against $3,836,- 206 in December, 1930. SILVER QUOTATIONS. NEW YORK, January 27 (#).—Noon sllver futures, easy sales, 525,000 our.ces. Quotations in cents: Morch, 20.90 bid; May, 30.26; July, 30.61; September, un- quoted; October, 31.02 U. S. TREASURY BALANCE. The United States Treasury balance the | announced today as of close of business January 25 was $346,287.481.36. Cus toms receipts for the month to dal were $22,631,526.55. Total ordinary ex- geaditures were $10,855,517.51, Stocks sold 1n 100-share lets exeept those dosigmated by letier 93— High. 52 27% 10414 S0ty 11314 1415 81 62 2515 464 70% 211 664 63 3 3515 6415 32% 38% 43% 60 T 3% 47 25% 114 25% A 12 56 50 48 103% 28 23 EIE Stock and Bales— . Not. Low. Dividend Rate. Add 00. High Low. Close OhEe 4% Abitibi Pwr & Pa pf. 2 5% b% bW —M% 34 Adams Express. . A as A = 124 AfMliated prod 1.60.. 2 141 144 144 47% Air Reduction(t4%). 4 B0 49% 49% — 7 Alaska Juneau (50c) 31 154 1% 154 + 2% Albany Wrap Paper.. 2 2% 2% 2% + % 134 Alleghany Corp 21 2 Alleg Cp pf $30 ww. 2 64 Allted Chemical (6).. 108 10% Allis-Chalmers(50c) 15 7% Alpha Port Cemt (1). 2 124 Am Bank Note (2). 1 B8% Am Can Co (15) 205 115 3 1 4% Am Car & 1 20% Am Car & Fdy pf (1) 608 30% Am Chicle (13).. 5 AmColortype. . re1 Alcohol. .« austic Tiling Am& 1 5 1 1 614 or Power.... 49 20 Am&ForPwrpf(1), 2 37 Am Home Prod 4.20.. 2 10% AmIce (2).......... 4 5 Am International 12 5 Am Locomotive 1 29% Am Locomot pf (7). 1 16 Am Mch & Fdy 1.40 2 4% Am Metal Co 1 11% Am Pwr & Lt (11). 13 5 Am Radiator (60c) 45 14 Am Republics > 7% Am Rolling Mills.. 8 1% Am Seating. 1 % Am Ship & Com 1 1714 Am Smit & Rfg(50c) 19 75 AmSm&Rfgpf (). 1 % Am Solv & Chemical. 2 5 Am Steel Foundry 9 34% Am Sugar (4).... 2 11214 Am Tel & Teleg (9).. 453 6015 Am Tobacco (5).. 1 64 Am Tobacco B (5 46 72 AmType Fy pf (7).. 108 2314 Am Water Wks (3) 9 2% Am Woolen Co 1 15% Am Woolen Co pf 10 13 Am Writ Paperctfs. 8 9% Anaconda Copper.... 64 13 Anchor Cap (2.40). 2 8 Archer-Daniels (1) 3 20 Armourof Delpf(7). 4 8 Armour of 111 (A) 2 1% Armour of 111 (B). 1 5% Associated Dry Gds., 12 81, Associated Oil...... 908 79% Atch To & San Fe(6). 2§ 75 Atch To&S Fepf(5)n 1 25 AtlCoastLine (4)... 7 15 AtIGulf& WIpt(s). 1 $% Atlantic Refining (1) 15 77% Atlas Powder pf (6). 808 8415 Auburn Auto (£4)... 110 14 Autosales. ... x 1 2 Aviation Corp (DeD). 3 1% Baldwin Locomotive 2 15 Baldwin Loco pf.... 14 Baltimore & Ohio 25 Balto & Ohlo pf (4) 1 80 Bang & Aroos pf ( Barnsdall Corp Beatrice Cream (4) 1 Beech-Nut Pkg (3).« 1 Bendix Aviation (1). 17 Best & Co (2) ha 3 Bethlehem § (2). 165 Blaw Knox (50¢).. Bohn Alumn (112) .. Borden Co (3) Varner (1).. Con Min (A). s Mfg (1).. Bruns T Bucy Bucy Burr Add Mch (1). Bush Terminal (2 Bush Terminal pf (7 334 Case (J 1) Co.. 244 Case (J ) pf (1) 108 Caterpillar Trac (2). 21 o se Corp Celotex vtc ctfs. . Cent Aguirre (11z). Century Rib Mills Cerrode Pasco (1). 3% Checker Cab Mfgr. 23% Ches & Ohlo (21%). 8 13% Chesapeake Corp(3). 2% Chi Great Western.. Ty Chi Great West pf. 1% Chi Mil StP & Pac.. 2% Chi Mil StP & Pac pf. 1 5 Chi& Northwestern., 1 81 Chi Pneu Tool....... Chi Pneu Tool pf. Chi Rock I & Pacific. Chi R1& Pac 6% pfa Chi R1& Pac 7% P« Childs Company . sler Corp (1) Tce&Fuel (3.60). > O P~ S o e e R ) 2¢ Colgate-Pal-P 6% Collins & A . 11% Columbia G b1% 1 82 Columbia Carbon (3) 8 Comm Credit (1.60) 52 Comcl Cred 15t(6%)s 208 15% Comcl Inv Trust (2)s 6 6% Comcl Solvents (1) 42 3 Comwlth & Sou(30c): 55 46 Comwlth&Sou pf (6) 1 Congolm Nairn ()., 1 Congress Cigar (1).. 1 Consol Cer prpf 6%, 208 Consol Film........ 1 Consol Film pf (2 3 Consol Gas N Y (4).. 140 Consol Gas NY p£(5) 2 Consol Laundries(1). 6 Consol Textile. . . 3 Container Corp (A)., ' 1 Contl Baking pf (8).. 1 Contl Can (2%) ... 7 Cont Insur (2.40) 8 Contl Oil (Del). 8 Contl Shares. 12 “orn Products (3). 11 oty Inc. . 9 10% Crex Carpet. 1 214 Crosley Radio 1 21 Crown W P 1st pf(4) T80s 1% Crown Zellerback 3 20 Crucible Steel. . 6 6 Cuban-Am Sugar pf.. 20s 20 Curtis Publish (4). i 70 Curtis Publish pf(T). 1 1 Curtiss Wright...... 2 7 Cutler Hammer. 1 8% Davison Chemical... 1 13% Deere & Co pf (1.40) 4 64 Delaware & Hud (9 ) 17% Delaware Lack & W 5 315 Denver & R G W pf. 1 5% Detroit & Mackinac.. 800s 100 Det & Mackinac pf..: 2608 10% Diamond Match (1).. 4 6% Dome Mines (1) 7 42% Drug Corp (4)... 12 507 Dupont de Nem (4).. 186 94 Dupont de N pf (6). 1 77 stman Kodak (18) 32 5% EatonAxle& Spr50c. 2 1 Eitington-Schild. 11 20 c Auto Lite (4). 55 3 tric Boat. 3 , cMusical 28 Lt (1)... 14 Ltpf(D. 2 age Bat (4). 3 dicott-Johnson uit Office Bldg 2% fe R R 5% je R R 15t pf.... 5 Erfe RR2dpf.....en 1 1% Eureka Vac Cleaner.. 6 10 change Buf (25¢).. 108 3% Fairbanks-Morse.... 4 3 Fed Water Service A 4 20 Fid PhFireIn(2.60). 3 Y “irestone T & R (1).. 15 46% Firestone T&’R pf(6) 3 41 First Natl Strs (2%) 2 3% Fisk Rubber 1st pf.., 108 7% Florsheim (A) (1%). 2 8 Foster-Wheeler . 3 15% Fourth Nat Inv1.10.. 6 2% Fox Film (A).... 5 13% Freeport-Texas (2).. 1 16 Gamewell Co (3)..<a 608 2% Gen Am Investors,.. 10 28 Gen Am TankCar(4) 7 9% Gen Asphalt (2) 6 915 Gen Baking (2). 4 95 Gen Baking pf (8)... 1008 2% Gen Cable (A)...... 1 227 Gen Electric (1.60).. 369 10% Gen Elec spec (60c) 2 28% Gen Food Corp (3). 19 914 Gen Mills (3) 3 21% Gen Motors (3)..... 581 79% Gen Motorspf (5)... 17 5% Gen Outdoor Adv (A) 1 2% Gen Public Service.. 4 21 . Gen Ry Signal)(6) v.s §388 13% 2% % 18% 52% 7% ‘4 17% 15% 2% 30% 14% 134 97 21% 11 4% 345 21% 84 64 3% a5 . 145 364% 61 1% 1% 12 6% 115 28% 18% 14 2% 4% 104 57 10 13% 201 251 13% 267 1 16% 107% 29% 4% 13% 20 10% 34% 344 21 823 6% 3% — 193 High. 9% 57% 16% 38% TA % 42% 20% 2% 91 614 22% 31 80% 126 T15% 45 18 3l 26 29% 15% 311 29% 1513 14 384 3% Stock and sales— Low. pividend Rate Add 00. High. Low. % Gen Realty & Util 3 % % 12 Gen Reffactorfes.... 1 13 13 % Gen Theater Equip., 19 % % 9% Gillette Saf Razor, U 12% 12 1% Gimbel Bros..... 2 2% 2 3% Gobel (Adolf) 25 AR 6 14% Gold Dust (2 e 9 16% 16% 3% Goodrich (B F : 2 4% 4w 18% Goodyear T&R (1) 9 16% 15% 35 Goodyear1stpf (7).. 1 52 b2 1% Graham-Paige. ... T 8% 3% 5% Granby Consol (30¢). 3 7 1 1% Grand Silver Stores. . 2 2414 Grant (WT) (1).. 1 15% Great Northern pf(2) 9 10 Vorth Ore(2).. 2 5% Great Western Sug 4 1 Grigsby C 3 1 s 1% Hahn Dept Stores. .. 1 14 HahnDptStpf(6%). 1 Hall (WF) (1.20).... 1 4 Harb & Walker (1) 2 Hayes Body Corp. . 1 Holland Furnace (1), 1 Houston Ol 5 Houston Ofl (new) 2 Howe Sound (2)..... 8 Hudson & Man (3%). 1 Hudson Motor (1)... 5 Hupp Motors 5 Tllinois Central. . 43 1llinois Cent pf (6 1 Ind Motor Cycle pf.. 10s Indian Refining 1 Indust Ravon (4) 2 Ingersoll Rand 7 Inland Steel (2). 6 Inspiration Coppe 1 Interboro Rap Trans 5§ Interlake Iron....... 10 Int Bus Machine(n6) 8 Int Carrfers Ltd 50c. 3 4 Int ¢ % Int Harvester (2% Int¥ Int Hydro EL A (e2). Int Match pf (4)... Int Merchant Marine Int Nickel of C Int Nick Can pf ( “ombustion farvester pf (1 n 20c Int Paper & Pwr (C) [ Int Printing Ink 4 Int Salt (3).... 1 Int Shoe (3). .. 8 Int Tel & Teleg(60c). 17 Int Dept Stores (2).. 1 Interstate DS pf(7). 708 Interst DS pf xw(7), 208 14% Island Cr'k Coal (3).. 1 15% Johns-Manville (1).. 83% Johns: KC PRL ISt i B (6), T11% 6 4% 121 40 [ 40 14 1315 20% Louisville 4 10 Kan K'm: Kell Kelse; Kelvinator Corp. Ken Kresge (8 Kreuger & Toll 1.61 Kroger Grocery (1) . T ™ Loft Loose-W Lori Lorillard (P) pf (7). Lou Lud 1 MeC McCrory (B McKeesport McKesson & Robbins McKes&Rob pf McLell Mac Mag Man Man Man Maracaibo Ofl E Mar Marshall Field May Melville § Men Mesta Machin Miami Copper....... Mid Min Minn Moline Pow Minne-Moline P pf Mo ¥ Mo k Missouri Pacifl . Missouri Pacific pf Moh:; Mon Mother Lode. Motor Meter G & Moto Mullins Mfg Mun: Nat Nat Nat t Nat Nat Nat Nat Nat Nev New NY NY nk Belt (1 anv pf (7).. sas City Southn.. ann Dpt Strs(1) .« pring Tire. prT 8% pf. Hayes Wheel necott Copper 50¢ 5 S) (1.60).. Tbert Co (8)..... hey Owens Glags, 1 & Myers B (15 Frean onic,(2 2 (t4). In 11 Gas&E1A (1%). : Nash(4) lum Steel lum Steel pf SO all p orp (2 50, k ) hat Elev mod gtd hat Elev gtd (7). hattan Shirt(1). o O B RS 1 i O Bk ik ) e OV R 3 ine Midld (1 Dept Strs ( 10e (2) el Co Continent Petm.. p Honey ¥ 3) Mpf...a 11sd (4). <an & Texas..... 3 Kan & Texas pf.. 5 S awk Carpe teomery W d e 1 yr Wheel (50c) singwear ( Bella He Biscuit Cash Reg (A). Dairy (2.60). Dist Prod ( ipf A (7). wr & Lt (1) teel (2). Supply pf Surety ( Tea (1). Con Cop ( ton Steel. . Central....... c <0 & St L NY Chi & St L pt N Y Investors...... 1% NYNH & Hartford, 98 30% NYOnt& Western.. 6 8% N Y Shipbuilding.... 10 43 N Y Shipbldg pf(7).. 100s 50 118 94 N Y SteamIstpf(7). 20s 103% 217 105% Norf & Westn (i12)., 31 11 2% North Am Aviation.. 4 90% 26 Nor Amer(b10%stk). 75 10713 79 North Am Ed pf (6). 1 60% 14% Northern Pacific (3). 84 19% 5% Ohio Oil. e 16 5% % Oliver Farm Equip.. 1 68 1614 Otis Elevator (2%).. 11 16% 3% Otis Steel. : 691 8 Otis Steel prpf. b4% 29% Pacific Gas & EL (2).. 6915 35 Pacific Lighting (3). 26% 7% Pacific Mills.. 131% 93% Pacific Tel&Teleg(7 11% 8% Packard Motor (40c) B0 5% Par-Pub (b10%stk). 4% 1 Parmelee Transports 1 2% % Pathe Exchange..... 4 8% 13 Pathe Exchange (A). 1 4% 2 Peerless Motor Car 3 443 26% Penney (JC) (2.40).. 4 100% 79% Penney (JC)PTA (8) 1 5% % Penn DixieCement.. 2 64 16Y% Penna Rallroad (2).. 121 22% 20% 250 107 Peoples GasChi (8).. 4 113 110% 80 5% Pere Marquette pf. 308 16 15% 921 8% Pere Marquette prpf 108 164 18% 10% 23 Petrol Corpof Am... b5 3% 3% 12% 2% Phila & Read C&I 1 3% 3% 14% 914 Phillips-Jones Co 1 8% 8% 16% 4 Phillips Petroleumew ¢ 9 4% 4% 1% % Pierce Ofl...... - 2 sy 8% % Pierce Petroleum...s 4 3 % 37 193 Pillsbury Flour (2)es 1 21 21 39% 2614 Pirelli (A) (m3.13) wa 1 29% 20% & % Pitts Terminal Coala 2 EA % 15 1 PittsUnitedCorp..ss 1 14 14 86 11 Pitts& West Va....o 1 13% 13% 18% 8 Poor&Co (B)......« 1 3% 3% 27 2 PortRic AmTob(A). 4 4% 4% 20% 414 Prairfe Oil & Ga: 1 5% 5% 263 5% Prairie Pipe Line..., 10 T4 7 1% 36% Proct & Gamb (2.40). 12 40 16 3 Prod & Refiners pf.., 1208 8% 9614 49% Public Sve NJ (3.40). 8 534 10213 78 Public Sve NJpf (5). 4 80% 120% 92 PublicSveNIpf(6). 3 99 8% 15% Pullman Corp (3) 5 22 11% 3% PureOil..... % 1 4% 101% 531 Pure Oil pf (8). 60 55% 10% Purity Bakeries (2)~ 15 13% — O e 275 6% Radio Corp......=s 711 TH 60 9% RadloCorppfB....s 6§ 144 4 2% Radio-Keith-O(new), 2 5% 974 30 Reading RyCo (2)-. 1 35% 30% 1% Real Silk Hoslery... 1 3 19% 1% Remington-Rand 4 2% 2% 10% 273 Reo Motor Car (4 5 84 8 26% 4 Republic Steel. 81 5% 4% 54 8% Republic Steel pf.... 6 1l% 11 22% 7 Reynolds Met (1%)- 838; ilu fix,, 18% 215 Reynolds Spring. 6% 69 ReynoldsTobA (3).. 608 67 67 54% 82% Reynolds TobB (3).n 12 38% 884 §Continued oo Bage M.} G STAR, WASHINGTON, D NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. , WEDN STOCKS GO LOWER INDRAGGY MARKET SDAY, JANUARY 27, 1932 Everybody’s Business FINANCIAL. CONTEST OVER OIL DUTY I FORECAST CRXL e!&—1'3' Money on Hand to Loan on First Deed of Trust 67 Interest Wet. —_— Close. Chg: % % 3 o Y H‘g""" ”; ‘5”27 D"":"'d Reasonable Commisslon and % == utstanding Event From rompt Replics to 12% + % i .o . Applicztions 2« + w|Steel Corporation Report and Sl e e New England Manufacturers ; 45 ; i JAMES F. SHEA 185 — | Dividend Action Causes Expected to Lead Fight C 6 — % BY DR. MAX WINKLER. 643 Indiana Ave. N.W. e General Reaction. Spectal Dispatch to The Star. on Measure. 3% — % NEW YORKA‘Januarytzz (N"éhNA)' P — = _The outstanding event from the se- . T . i curities standpoint was the meeting yes- S L Ty First Mortgage Loans % BY GEORGE T. HUGHES. < EFFER, “ 1| Special Dispatch to The Star. '-Set’(g?" ggfi;’;:f‘gn”ra‘nzc :L;fl“efcfff;fii Associated Press Business Writer. ~ | NEW YORK, January 27—The rec- ) Steel Corporation and, the ond on| A St contest is in sight on the bill | Lowest Rates of Interest and Commission _ | grd, defictt reported by the Unped|common stock to 50 cents providing import duties on crude pe- : — 1| all along the line, although wllému: ;\:;:né’;ng%tr:mfié crao SR L);(;l:;\;mrrgzp(:rotx:d‘ into :hse z{niged‘—_—_, Z w|any great volume of gelling. Steel e foreign countries, intro- | = O e celt Jon the rocestign. The|that profits for 1931 were equivalent | duced in the House last week by Rep- The Most Highly Protected &S etier shoving than tus fi:n:’vresfle}grk:‘gy e eauirements, | Lesentative Sanders, Republican, of Type of Investment 1 e BB o) “Was n_cvidence | Ll eXpeCiations, |\ e man. |, Alfeady a’meeting s scheduled by | | Meortgage Securities | i 5 ;i puzzling Wall street for some time. ! gai¥, <% 0 0 : e e foreed that nb payment at all |mabt have been possible only by Te- fihe Anghracite Institute the Nationai Thesefcon: T e e o the grounid that 1. was | SoFting to the corboration’s large Sur: | Retail Coal Merchants' Asoclation and || ‘nvestments are T 72| simply deterring for three months what | Pius, & methiod Emplovid ere 9F IG5 the coal body will develop a plan of || fome-produ 3 iy vill have to be done in the end. They | B 10 M0 % hor cent, reduction in | CAmPalgn In support of the tariff on O d e 4 [ were disappointed, however, by the in- |} VGt ot ne regarded as a com- | Yoy : | Cifrentterings g | Comeaggcolny plete surprise. pposing the measure will be the|| ) nah Tow as $100 +u Steel Under $38. "The reduction of the dividend to s2 [ Assocated Industries of Massachusetts, Enominations a5 Ox a8, 2 %] Unitea States Steel opened ‘at 40, |may indicate possibly that the manage- | 3 cOmPite of New Bngland manufac- ||| o Menthly Paymonis ¢ Desy — %! compared with the previous close of |ment is not quite certain with respect | ;" ¢o5 000000 additi e f”;posal means 5,413, and before noon was selling under | to the fature outlook. It may have de- | & S20.000000 additional fuel bill for REAL ESTATE — % |$38 a share for a net loss on the day |cided, therefore, to r(-!rf\n from takmg“(mk with: dlifavos mf :‘hvon-:ef;flfi;dn';g‘ — %l of some 4 points. The extreme low for | recourse once more to the surplus which s i _Lne mens | H um“ Ty o 4 Parket was 35l registered | has accumulated in the course of years | e AMmerican Ship Owners Assoclation, | DORTGAGE & G January 5 Steel preferred sold off | for the distribution of dividends to com- 4 '” by % o bl e , LAY *common e |the American Gas Assoclation and the | CORPORATION — % | Another weak industrial was General | It is also possible that the lowering | \p "o nio s ers’ Association, % 1B ic. which touched 20 for the first | >f the dividend may have been prompted | ™ E;&v{]'D Associat el 5 1610 K St. N.W. National 1403 - % |time during the life of the present |by the belief that a $4 rate would tend | 4,0 imilis tion declares that 1% | shares. Street opinion was to the effect | to exert an unfavorabie effect upon the | ement of their product by fuel — = S| Saates b Jnlon ya. ki Sl Dle CiTect upon U [ oil imported from Central and South that a cut in this dividend was prob- | discussion: gard to I et e s T b = % | able, the new rate suggested being $120 | way wages. | ment of 17,000,000 tons of Goa), romale- WE PAY 5% INTEREST a share. thlehem Steel was weal — i 55 t0. = s B e e e 1a United| . Intimation thatithe te Com- | INg in a loss to American labor of $50,- ON VOUR SAVINGS States Steel and because it faces a |merce Commission would favor the rc- e e h ) et e St i 1 | e e O 8 e |made’ pavments recapture | hand, claim midcontinent ol filds lack SAVINGS — 5 bl : vely | clause of the railr ation law | 2dequate distribution facilities to sup- > a better earnings showing_relatively S ¢ e = = %{that U o el, all t | shouid help the United ates Steel heir section with fuel oil at a price | that United States Steel, although 1t |G 0, 0 10 the extent of about 72 | favorable to that offered by: importers | BRING _g1, | might not pay any dividend at all. The | Corporation ¢ e | g stock during the morning sold only & | *; 4o the middle of last month three | Representative sanders’ bill provides |iff SUCCESS — % Thissinpathy with the g . | railroad subsidiaries of the ion | & duty of $1 per barrel on crude petro- y - = %" In sympathy with the general market, | 3% F0C, P80 Gr %65 305,683, which, | leum and fuel ofl and of 50 per cent ad | COMFORT 2% | not because of anything specifically st bl ; ew in their uflau\' Allied Chemical if returned, would add that much to|: gasoline, lubricating oils | | o i O A Gan, Auburn Auto, Eastman |the income. Should interest be in- and other products of petroleum. | RESPECT +| Kodak and other stocks of that specu- | cluded, the amount wou be appre- HAPPINESS 1| lative grade weakened more or less. [ 1P Ber . / R —~18; | General Motors made better resistance, The selling of securities and the call- | Sl e | vt Sl st | |ENTERPRISE S BRENT — | tively good statem arnings of | institutions have a tendency to reduce 2| ey gt ptemint, Buming i st ety 8 eadns o s BUTLDING ASSOCIATION | write-offs could not be looked upon as 2L, Mills, Undersecretary of the 5 % ng but gratifying. The corpora- 2 7th St. and Indiana Ave. N.W. \:x.rf:»‘-l "(‘:;‘Zikmgv 67th Series of Stock Now Open for Subscription e Pressure continued against - n Telephone & Te revers 50/ 3 points during the early trading S ailble eeatt| % INTEREST PAID 3 ¥ 2« source of the selling remained a mys- | encouraged. | ON STOCK tery, as there has been no_questior _ 1 | abont “the st of 'the telephone| A useful contribution to world econ- | jj James E Connelly, James F. Shea. ~ ., |business. A that made a good|omy could be made by India President Ssaratacy showing was Woolworth, the report of | Within the last 30 years the country | Which is due shortly. Tobacco stacks|bas absorbed the equivalent of about | held well s for the rails, they were |$1.825.000.000 of gold, of which approxi- egular. O or two of the dividend | mately $150,000,000 has been s ipped | payers were quoted higher a mzenab‘:\brwad s ((c s;;mmré Zl when GErem but could not stand up against the|Britain left the gold stand: ng- — & | weakness in the industrials. The best s withdrawal led In hoarders | or e grea er art — ™ |that could be said was that rail | of the yellow metal to ¢ it, | 1 | jssues were in better demand than the | er through shipment ol | i of the 1 | In addition to doing somet | ° - %! Money renewed at 2', per cent and |structive, India is making | t t B Tater *™ | S throug the_export ot god 0l your Investment 1unds Opening Prices Lower. would not, be surprisit learn that ’ Indian gold played an important part o Tne opening was lower and trading | {niic s payment next Monday of Great | Should be as sl = 2 B e ‘After the first few minutes of trad- E‘,,’l‘l“e‘; »‘S;,L{,i“f,‘zg 0;’3,1;.;“1‘;(}‘;{;[ e ing, however, the tape displayed greater | pevirt 51T eceries of the Bank of activity on the down side. Bethlehem | Biiafy' 22% — % 112 -1% 16 +1 16% - % 3 - u% 3% — 1 8% — % 4% % ’,a 21 29% + % % 1% 18% —1% 31 4% 5% 7 Steel, whose directors meet for divi- 1!; points. General Motors at 21% was off a fraction. following publication of its 1931 earnings of $2.01 on the common stock American Telephone at 11672 lost 1%. American Can opened off !; at 6035 J. I Case at 3634 and Coca Cola at 108 each declined a point. Westing- house at 2435 was down 1%. U. S, Steel common, followng the halving of its common dividend Tuesday, opened at 40, off 134 on a block of 2,500 shares. Baltimore & Ohio declined 35 to 1834 and Canadian Pacific was off 1 at 15. w York Central dropped 33 to 313, Southern California Edison opened off 3; at 30!>. Standard Gas at 28 was down 1. Western Union at 403; and North American at 32!, were each off 1 and Woolworth was off 33 at 43's. CLEARING HOUSE;‘IGUEES‘ Washington NEW YORK BANK STOCKS NEW YORK, January 27 (#).—Over- the-counter market Irving 5 Manufactirers New York Washington Produce Butter—One-pound prints, 28; tub, 27. Eggs—Hennery, 16al7; current re- ceipts, 14al6. Poultry, allve—Turkeys, old toms, 18a 20; young toms and hens, 22a25; chick- ens, 3 pounds and over, 16al8; 2 to 2!> pounds, 18a20; broilers, 112 to 2 pounds, 18a20; hens, large, 16al7; small, 12a14; Leghorn hens, 11; roosters, 10; keats, young, 45a50; old, 25a35. Poultry, dressed—Turkeys, old toms, 23a25; young toms and hens, 25a28; chickens, 3 pounds and over, 19a2l; 2 to 2 2 pounds, 23a25; hens, large, 20a21; small, 15a17; Leghorn hens, 14; Toosters, 13; keats, young, 55a60; old, 50. Meats—Beef, prime, 16; choice, 15; good, 12%4al13; cow, 912al0; lamb, top, 14; medium, 12; veal, top, 14; medium, 13; pork loins, 12; fresh hams, 8 to 10 pounds, 12; 18 to 22 pounds, 19; smoked hams, 16al7; strip bacon, 16al7; lard, 80-pound tins, 6%2; package, 7; com- pounds, 6% Live stock—Hogs, light and medium, 4:40; heavy, 3.75a4.00; pigs, 3.758 4.00; roughs, 2.0083.00; calves, 4.00a9.00; lambs, 4.00a6.50. Fruits—Strawberries, pints, 121£a15; quarts, 25a30; apples, bushel baskets, 50a1.00; fancy box stock, 2.50; oranges, Florida, 2.75a3.50; California, 3.00a4.00; grapefruit, 2.25a3.25; pears, 3.50a4.00; pineapples, 3.00; grapes, Emperors, kegs, 4.50; Almeiras, 5.0C; lemons, 4.0024.50; tangerines, 1.25a1.75; kumquats, quart, 10al5; bananas, 1.50a3.00; alligator pears, flats, 2.50a3.0 rhubarb, hot house, 5 pounds, 1.25; honeydews, Chile, 1% 84 67 —1% 38% — % 4.00; plums, Chile, 2.00a2.50. Vegetables — Potatoes, 100 - pound sacks, 1.25; Idaho bakers, 2.50a2.75; sweets, 65a1.25; tomatoes, Florida, 6-pan, 2.50a3.50; 3-pan carriers, repacks, 2.50a 3.00; peas, 6.00; string beans, 150a2.25; limas, 2.00a4.00; broccoli, 2.00a2.50; spinach, Texas, 1.00; home grown, 50; kale, 50; watercress, 1.00a1.25; lettuce, Iceberg, 2.25a2.50; caulifiower, 3.50a4.25; squash, 2.00a4.00; mushrooms, 65a1.00; beets, crates, 2.00a2.25; carrot§, crates, 4.00; cucumbers, 3.50a4.25; egg- plant, 350; celery, 3.00a3.75; onions, 50-pound sacks, 1.90a2.00; Spring onions, per dozen bunches, 24; salsify, dozen bunches, 50a60; artichokes, 4.50a 5.00; parsnips, 1.50; cabbage, new, crates, 3.00; Qid, sacks, »00al.25, dend action Thursday, opened at 18, off | and Missouri Pacific preferred 115 to| Clearing House figures | | for today, $3,173,064.22 4| some $30,000,000 whi pounds, 23a25; broilers, 112 to | Woolworth is attributed to expected f: rable earnings for 1931. Although | | gross sales will in all probability show ! decline from the preceding year, net |is expected to approximate §: | share, an advance of about 2! per cent | 8s compared with 1630 1t is doubtful whether any important inventory adjustments will have to be | made on account of last year's opera- tions | Sir Otto Niemeyer, a director of the | Bank of England, continues as & finan- cial doctor. | ot long ago financial experts were | freely furnished by the United States. ! This happened at a time when America made large loans to the rest of the world. With the cessation foreign loans, the demand for American finan- cial specialists diminished. Now Sir Otto has been asked to in- vestigate the position of the Bank of Greece and the country's economic and financial condition. His vast experi- ence renders the English financier emi- nently qualified for this work. It may be recalled that his examina- tion of Brazil's status was followed by suspension of payment by the country. It 1s hoped and expected that his pres- ent mission will be more fruitful. Spain has come ints possession of she expects to use for charities and educational pur- poses. The funds are derived from the | dissolution and subsequent_conflscation of property of the Order of the Jesuits, which for more than 410 years has flourished on the Iberian Peninsula Members of the order are forever banished. History of about four and a half centuries ago repeats itself. Spain has not, however, benefited in the long run. The next 12 months should be a period of recuperation for Germany, in which the Reichs Bank must be pro- | tected by creditors, because Germany has pald already as much with gold as ihe creditors can ask, in the opinion of Albert H. Wiggin, whom circumstances have made one of America's best posted men on German affairs. Mr. Wiggir,, or rather the report bear- ing his name, points out that further repayments will be fixed according to the development of the country's ex- port surplus, which in turn depends to a large extent upon the trade policies of creditor nations. In Peru everything proceeds in ac- cordance with regulations. When payments on foreign loans were suspended a special decree was pro- mulgated to that end. Herein Peru differs from Russia, which won't pay, and, of course, doesn’t pay. Peru says she’ can’t pay now. The result, re- grettable though it may seem, is the same. A new law has just been proposed by the South American republic providing for the extension of the moratorium on foreign debts. Holders of defaulted Peruvian loans are not likely to derive much consolation from the republic's legalization of its default. (Copyright. 1932, by the North Newspaper Alliance, Inc.) BANKS ARE CONTINUING TO REDUCE LOAN TOTAL By the Associated Press. NEW YORK, January 27.—Loan de- flation by banks and the tendency to- | ward liquidity, of which Undersecretary of the Treasury Mills spoke last eve- ning, is continuing, judging from the nature of changes in this week’s condi- tion statement of member banks report- ing to the Reserve. Loans and invest- ments were cut by $235,000,000 last week, the contraction being due in ma- jor proportion to a shrinkage of $139,- 000,000 in investments, while loans dropped by $96,000,000. Reduction of $116,000,000 in - holdings of United States Government securities was the outstanding change, the banks also hav- American Relative firmness in the shares of | | placed in ) First Trust Notes for safety—and the high- est yield consistent with a conservative investment. Wm. H. Saunders Co. Member Washington Real Estate Board 1519 K St. N.W. Established 1887 Interest Semi-Annually Dist. 1015 L 0 Organized 1879 52nd YEAR COMPLETED Equitable Co-Operative Bidg. Ass'n JOHN JOY EDSON, President WALTER S. PRATT, Jr, Secretary Assets....... $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 you have a steady income the systematic saving plan of the Equitable should be adopted. Come in and talk it over 915 E=St: A SAFE R ETR ST MR TGAGES CONSERVATIVE INVESTMENT There is one investment which employs money safely and at the same time provides a definite and sizable income. Our 6% FIRST MORTGAGES ier a Third ; are of this type. Investment in them of @ is secured by conservatively ap- praised improved Washington real estate; and during the life of the loan you are never without a definite and dependable income. Century Without a Less May be purchased in amounts from $250 up. B. B SA&UL CO. ing liquidated miscellaneous investments to the extent of $23,000,000. Loans on security collateral were cut $28,000, 000, the limited amount of the redu tion here at least suggesting a slowing down of the process of “calling” of loans 8 gecured, o National 2100 925 15th St. N.W, THERE IS NO SUBSTITUTE FOR SAFETY.;