Evening Star Newspaper, January 30, 1932, Page 13

FINANCIAL. SATURDAY, JANUARY 30, 1932 FINANCIAL. wy A3 DIRECTORS CHOSEN FOR RESERVE BANK Washington Office Names Officials to Serve Fifth District. THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. ), (@ STOCK AND BOND AVERAGES FISK RUBBER PLANS STOCKS IRREGULAR ML AWAITING APPROVAL Stocks seld tn 100-share let —18— Btock and Bales— High. Low. Dividend Rate. Add 00. High 52 4% Abitibi Pwr & Pa pf. 6 5 2314 314 Adams Express. 5 4% 109% 47% Air Reduction(t43%). 21 49% 20% Alaska Juneau (50c) 3 16% 12% Alleghany Corp. . 9 2% 1828 Allfed Chemical (6) 28 42y Allis-Chalmers(50c). 2 29% Am Agri Chem(Del), 1 625 Am Bank Note (2)..: 2 6614 Am Bank Note pt (3) 129% Am Can Co (15) 38% Am ( 3 Am Car & Fdy pt Am Chicle (13). Tetter “5." xeent these desirmated by = Add 00. 5 . Chae. 21% 8 Int Dept Stores (2) 1 Industrials. Utilitles, Will Conti - 68 B31% Interstate DS pf(7). 95.6 ill Continue Along With Sale of Tires. —_—— 80% 16% Johns-Manville (1).. 314 % Kelly-Spring Tire. 26 6% Kelly-Spr T 8% pf... 29% 3 Kelsey-Hayes Wheel 15% 6 Kelvinator Corp 3114 9% Kennecott Copper 50¢ 29% 15 Kresge (SS) (1:60).. 27% 4% Kreuger & Toll 1.61 36% _12% Kroger Grocery (1) 87% 40% Lambert Co (8) 3 4% 1% Lee Rubber & Tire. .. 69% 35 Lehman Corp (2.40)., Am & For Power. 20% 5% Libbey Owens Glass. Am & For Pwr pf(6). 91% 40 Ligg & Myers B (15), a s e R Y 233 14 Link Belt (1.20)..... ‘Am & For Pwr 2d pf. 6314 23% Loew's Inc (14). . Am Home Prod 4.20 ' 2% Loft Inc Am 1ot () lfl'/. 10 Lorillard (P) (1:20). Am Previous day Week ago. Month ago Year ago.. Three years ago Five years ago. High, 1931-32 Low, 1931-32 High, 1930. Low, 1 High, ]'YZ" Low, 1929 Wall Street Watches Rail Wage Parley and Far Eastern Situation. Spectal Dispatch to The Star. NEW YORK, January 30.— Charles A. Dana and John B. Pierce, receivers of the Fisk Rubber Co. announce to day that the plan for the reorganiza= tion of the Fisk Rubber Co. has now been prepared and submitted to the various security holders and creditors for their approval. Pending the opn- firmation of a reorganization, the re- ceivers and their management propose to continue the manufacture and sale of tires and the maintenance of the busi- ness on_substantially the lines followed during the past year. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, January 30.—Prices moved irregularly in extremely dull | trading on the stock exchange today. | Wall Street was walting on two | events that should play an important BY EDWARD C. James C. Braswell h; & class A director STO? year tern in the Fi bu C. Gr Week ago. also been re-elected term as a class B serve Bank of F announces. B ele Am News (3). Pwr & Lt (11) m Radiator (60c) publics olling Steel Fou Stores (121 Sugar (4). Tel & T 188 1125 20% Louisville & Nash(4) 19 4 Ludlum Steel 9315 McCrory Strs pf (6).. 108% McKeesport T P (4). .5 Manati Sugar. 1274 Manati Sugar pf. 39 Manhat Elev mod gtd 24% Marine Midld (1.20).. 87 Maytag 814 Mengel Co.........u 16% Mid Continent Petm.. T Minn Moline Pow 48 Miune-Moline P pf... % Minne & St Louis 26% Mo Kan & Texas..... A2% Missouri Pacific. 107 Missouri Pacific p: 29% Montgomery Ward week’s market. The one was the lat- est conference called to discuss possibility of a declaration of war be- tween China and Japan The “war scare” influenced some further strength in the commodity markets and in securities that would be benefited in a speculauve way by prolonged hostilities, such as du Pont, which advanced briskly and was usually active. Pressure at Start. At the start today there pressure against a limited number of shares, with fractional declines balanced part in determining the course of next | railway wage terms and the other the | un- 'WHOLESALE INDEX was some | Month ago Year ago. Two years aga Three years ago. High, 1931-32. Low, 1931-32... High, 1930. Low, 1930. High, 1929. Low, 1929. During been maintained, served and many e fect. Operations ha 62.. Cl 109.8 g 97.3 96. reorganized company 106.0 100.8 , Standard Statistics Co.) been added since N into. The receivers with working capital. States Government December 31, 1931, proximately $6,750,000. per cent. In 1931 there were nine de- clines and three advances, with a net decrease of 13.5 points, or 23.9 per cent. the period of receivership operations the company its organization pre- s put into ef« e also been main- tained and conducted so as to be a to turn over a going business to the nom Sales are continuing at a satisf; rate and many desirable when new sales contracts were e are ampl; notes and bA.s amoun CLEARING HOUSE FIGURES. 3 | Washington Clearing House figures Action of Prices During Past Month for today: $2,486,693.32. Held Encouraging Sign THREE DIVIDENDS VOTED. CHICAGO, January 30 (Special).— | Semi-annual cash distributions "on | Thomas J. Fisher & Company. Inc. Leaders of Indusiry Shares, series A, B | and C, fixed investment trust sponsored by General Shares Corporation, will be COLUMB[A payable February 1 to holders of rumd Janua 15, it was announ Under Government Supervision against small gains. The outstanding incident was a drop in General Electric to a new low pri the year and {for the bear market. Transactions in it were relatively large. This influenced some_selling in other industrials, but the losses were mainly fractional in size. United States Steel opened off * but later showed a net gain. The del in Chicago on the wage question had a moderate effect on railroad shares, | Nat Supply Co. which_altogether Nev Con Cop (4( 3 5 that the Street N \x](u(lm!)\\nt« 3 2 P = tory conclusion of the negotiat s | spite of the apparent deadlock bet the two opposing factio 197 Motor Wheel (50¢) ..o/ 367 % Mullins Mfg. 724 Mullins Mfg pf. 18% Murray Corp. Nash Motors (2).. Nat Bella Hess. Nat Biscuit (2.80) ... Nat Cash Reg (A) . Nat Dairy (2.60) . Nat l’\\r& Lt (1) SHOWS STABILITY| 4% 7% n Water Wks (3) 27% Woolen Co. .. 4% o Woolen Co pf. 20 ceived co s Am Writ Paper ctfs. i “Moses Idea” Condemned. 10% that has d wide popu- 1% recent pas atbus! First Mortgage Loans S i z Lowest Rates of Interest and Co: g in Bank Review. mmission A vic The general level of wholesale com- modity prices has shown little change during the past month. The index of or the Guaranty Trust Co. for January 15 stands at 431, the same figure re- ported a month ago. The index numbers and comparative dates ary, 1932, 4: December, 1931, { January, 1931, 55.5. 23 'commodities included in the index, nine advanced during the period under review, while the same number declined and the remaining five | showed no change. Among the lead- |ing commodity groups, by far the greatest strength was reported in im- ports. Coffe rubber, sugar and adv while declined rn Auto (f4) 125 l(l Nichols A 1 208 14% n Corp (1 1 3 e & Ohio. 29 1% ce Cream (4) .o 1 39 8¢ 39 + v . There were a number ion (1). 19 164 stateme Decemk 21% those already hed 168 Y portant were the reports of the Union 6015 N Y Ont& Western Pacific and the Atchison. The former i ‘\\o:?hm:\“m)ur::r:f:,— showed a n«s .increase for the month, Northern Paciflc (3) o N e s Comme ities Teceived more attention | DIOTRS ub than stocks. Wheat advanced more 19's 6% Ohio Oil. than a cent a bushel on the war t 5815 164 Otis and on unfavorable weather predic- ot to 39% 20 OwensIllGl . 2 2 p: ns. Cottc entire "1'\‘”“k e e stroke 1d W csee 2 3 3 29% Pacific Gas & El (2). N 3 ! x, 5 Pacific Lighting (3)., 3 + % 2 pound s Packard Motor (40c) orelani Par-Pub (b10%stk) .. % VO | 3 SIet Parmelee Transport.; T 1 K 2 B 3 3 3 Pathe Exchange. .. 1 5 + Pathe Exchange (A). Penick & Ford (1)... Pe Distribution on series A certif amount to 19 cents per share, on series for January 15| B to 30 cents per share and on series C as follows of_railroad in line with The most im- | Jz 43.1; Of the { N H & Hart Y NH & Hpf (7)., NEW STRAUS OFFICERS. S. W. Straus & Co. announce the | | election of these four vice presidents: | | Ralph C. Baker, J. E. Friel, Wilfley | Scobey and Henry A. Tupper. | NEW YORK BANK STOCKS NEW YORK, January 30 ().—(Over- the-counter market), aw Knox (50c) sloomingdale pf Bor i (A) (15) torden 3 PAYS 5% New Accounts Solicited the wced, cotton while wool and eum and coal in price owed less strength with declines hogs and wool. Hides re- ile cotton and mulated < a delice - week Trading Very Dull. n kets were 1 the Fe nt bond: | snite of while Japs No Commissions Charged for Loans 716 11th St. N.W. Member U. S. League ey (JC) (2.40). . ¥ (JC) pf } 5 2 1% 3 Penna Ra ) ; road als th { the month, W als was also_slight- Sampson Writes on Trusts. Sy Sl Pere Marquette} o0 e e t Phik DeveeCe day has °d no chang Phila Co 6% pf those pre vanced Phila Rap Tr at a small av . SRS at the end of December etroleum Arrow. ... Arrow pf (6)- Pierce Oil Pierce P nnn'F im. . Pillsbury Flour (2) Port Ric Am Tfilfl A). Postal Tel&Ca Prairie O « Proct & Gal Public Sve NJ (3.40). Public Sve NJ pf (6). Pub Sve G&E pt (5).. « Pullman Corp (3) Purity Bakeries (2).. 5'» 1tadlo Corp. .. 9's Radio Corppf B 2% Nadio-Keith-O(new). 8% Raybestos Man(1.60) 1% Real Silk Hoslery s I ington-Rand. public Steel. compared wit closs: bee represents a gain of nearly 16 per cent While the m of the index for h can by no means be ange of trend, the past U. S. TREASURY BALANCE. Assoct SAFEE BETCRESETE ated $341,331,504.03. s days of January were $25,- 1 view of act that the cur- 1 below that It rep AN INVESTMENT THA IS PROFITABLE ted three months ago. | sents a continuation of the tendency toward stabilization shown for some time past. During 1930, the index de- d without interruption and showed tal decrease of 23.7 points, or 29.5 b (2.40). SILVER QUOTATIONS. NEW YORK, January 30 ().—Bar | firm and 1, cent higher at 20% | cents. You can count definitely just what vour return will be from an invest- ment in our FIRST MORTGAGES * 29' 807 By the Associated Press. NEW YOF business conditions as rep ing centers, on the basis in the corresponding week 30.—Tabloid review of wholesale and retail ted to Bradstreet's this week from the follow- comparisons with conditions in the same areas last year: 69 Reynolds Tob A (3) 3213 Reynclds Tob B (3) Rhin W EI P (a1.0 Royal Dutch of o g Over a Third of a The principal is secured by con- servatively appraised improved Washington real estate—and they pay this 6% continuously through- out the life of the mortgage. Collections. Slow Fair Quiet Fair Slow Slow Slow Slow Qu Fair Quiet Fair Quiet Quiet Fair Quiet Pittsburgh . Chicago Cleveland Detroit .. Indianapolis .. Lou: . Milwaukee . Des Moines Safeway Safeway Strs pt (6) St Joseph Lead (60c) . 5 “rex ( Century rpet. A Pt (7 e Produc Suggr pf. sh'(4) Stee an Fran pf. . vage Arm. 5 chulte Retail Stores eaboard Alr Line pt Sears Roebuck (2%). Second Natl Inv. Second Nat Inv pf. eneca Copper ervel Inc. .. Sharp & Dohme.... Shell Union Oil. Simmons Co. . imms Petroleum..q inclair Consol Ofl. BkDFIONGL 10 s Snider Packing..... Snider Packing pf Socony-Vacuum (13. South Port Rico Sug. Southn Cal Ed (2)... Southern Pacific (4). Southern Railway... Sparks-Withington. ., Spicer Mfg pt (3) Stand Brands (1 Stand Brands pf ( 4 1% Stand Com Tobacco.. £8% Stand Gas&El (3%) . 6475 tand Gas&El pf (4). 51% Stand Oil of Cal(213) cka Vac Cleaner. 52i4 Stand Oil @205 Ao BUE (950) 5% Sterling Secur (A).. — 40 4 Sterling Secur cv pf. Service A 21% Stewart Warner. ..., 20 Fid Ph Fire In(2.60). %l 26 Studebaker Co(1.20). irst NatlStrai(2s) 1% % SuperiorOfl........ il Bupber. - 15% weets of Amer (1) \r'r'r-]fr”f 9% Tennessee Corp. n (A Texas Corp (2). The Fair pf (7). Thompson Starrett. . Thompson-Staret pf. Tide Water Asso Oil. Tide Wat Oil pf (5).. Timken Roller B(2). Tobacco Products Tobacco Prod A t95¢ Transdmerica Corp Tri-Contl Corp. Truscon Steel. . 274 Unlon Carb (2.60) 70% Union Pacific (10). Unit Aircraft... 4 Unit Cigar Unit Corp ( Unit Corp pt (3). Unit Fruit (3). 5 Unit Gas&Im(1 20)..12908 Unit Piece DWpE 6% 100. Without a Loss 634 804 in May be purchased from $250 up. B. F. SAUL CO 2100 13the St. N Quiet Fair Quiet Comment. stimulates demand for coal; St. Louis . St. Paul Baltimore . Qu Qui Pittsburgh—Cold weather plate and glass slow; lumber outlook poor. Chicago—Imp t noted in steel buying; active; les satisfactory. Cleveland—Coal sales moving slowly; steel at 30 per cent; credit_hampers retail volume. Detr -Aut bile show attendance over last year; optimistic; response to clearance sales unsatisfactory. Indianapolis—Wholesale hosiery sales 15 per cent ahead of 1931; mild weather hurts sales of Winter merchandise. Louisville—Retail reduction “sales” receive only moderate response; wholesale millinery quiet: lumber inactive, Milwaukee—Retail stocks low; fill-in orders slightly more active; re- tail price of butter lowest in 30 years. Des Moines—Building material and kindred lines seasonally slack; unemployment intense; crops good Duluth—Mild weather retards Winter clothing sales; erally below 1931 Kansas City—Manufacturers working on curtailed basis: mining out- put considerably restricted; building slow; labor situation poor. Minneapolis—Low retail prices fail to stimulate buying, due to lack of funds; wheat and flour markets quiet. Omaha—Heavy snows help sales of auto chains; sales up St. Louis—Boot and shoe manufacturing fatr; ware and paints fair. St. Paul—Immediate business up to 1931, retail trade slightly off. Baltimore—Unseasonable weather a drawback to general trade; most wholesale lines marking time; lighter wearing apparel selling fairly well. lumber slightly more restricted iness 925 National o manufacturers 109 26'a 655 6% 13% 2 3315 11% 201 10% 124 114% THERE IS NO ‘' SUBSTITUTE FOR SAFETY 8o e Pwr & 14 1Y, llee Pwr & Lt pf( ec Pwr & Lt pf(7). “). 0). net business gen- imp: S Bankers Oppose Credit Unions, inions in | [ rubber footwear IV.' now Iv( « rvfl delegation 501 who n Legis- | Associa- was millinery quiet; hard- Capital & Surplus £3.500,000 After All, You Are More Concerned About Safety —for your Payday and other funds than return, ar anything else. The very fact that this institution has enjoyed over Sixty-Five Years of continuous ' business life, and now numbers its depositors at over 55,000, evidences utmost confidence in our service and strength. f[YOUR Checking and Savings Accounts can be in no safer hands. INTEREST PAID ON BOTH SAVINGS AND CHECKING ACCOUNTS Open Until 5:30 P.M. February Ist OFFICE DIRECTORS WILLIAM D. HOOVER JAMES J. BECKER WOODBURY BLAIR. WOODBURY BLAIR FRANK STETSON. WALTER C. CLEPHANE 2nd Vice Pres_and Trust Officer . ROZIER DULANY. Ji CHAS. "C. LAMBORN Treasurer ~ FRANKLIN H. ELLIS E. PERCIVAL WILSON.....Secretary ~H. PRESCOTT GATLEY FRANK R. ULLMER.. Assi. Treasurer ~ WILLIAM D. HOOVER BRUCE BAIRD . Tr. Officer WALTER BRUCE HOWE EAVER BR s e DAVID BORNET. ' 'Asst. Tr. Officer REGINALD S. HUIDEKOPER REALTORS JOHN W. CALVERT....Asst. Treas. VICTOR KAUFFMANN W HILES PARDOE ARG Treas FRANK STETS District 9486 Secy. JOHN M. BOTELER. ecy. AUDLEY 'A. P. SAVAG National Savings & Trust Co. Oldest Savings Institution in the District of Columbia Corner 15th and New York Ave. Sewm with prospects improved; » nk Car(4) halt (2). RO TR e eSS e R R SR o e B B © RISTEE i e o DT €110 i 1 FD I a1 1 O b e 0 I &R ble (A).. Gen Clgar (4)....... Gen Electric (1.60).. ble en Tlec spec (60c) . 2 1Corp (3)... 14 3 A (b6 % stk) Agi E en Mills (3 cer . S T ] \ en Mc wa $646,091 $ Gen Public cent -m n rtificates | 2 Gen Ry Si 0,000 in 334 Gen Theater 11 be i i 48750s pos: 1 If you are seeking a loan on your home you should first consider the Real Estate Loan Plan of the Metro- politan Life Insurance Company which has been endorsed by thousands of people throughout the United States. obel (Adolf).... Gold Dust (274 Tea Co. de- | y divider S Gypsum (1.60). Hremenrisld U'S Indus Alcohol Jodyear T & R ‘ U S Pipe & Fdry (2). ; 5 314 US Rubber. .. i 3 : 3 % U S Rubber Ist pf... 15 ; : U'S Smtg & Ref (1)... e 3 L 5 US Smtg&Ref pf3% Y - - teel (2)... ot o Hackensack W (11) .t US Steel f (7).« 400000 of re-| 35" 56, acken Wat pfA1% 2 1% United Stores (A) b A gl (s 67 Hanna pf e 21 United Stores pf (4). e bunds yeste ed with 15 Harb & Walker (1).. 2 9 31 7% Util Pwr&LtA (). rstat> Commer mmission Hri e e O 5 Rall” - Lt Fin e 4.2t 2 % Vadsco Sales Corp. < 76% 11 Vanadium Co¥p. Bro:. Fictures, T s de- ouston Of1 (new ) clared the regularly quarte dend o, _T1% 20% Vulean D'tinning (2 Wabash R R. of 96'; cents on the prefe Hudson & Man (3%) Ty 27% 27 26 P payable Mazch 1 to stock of 1 1udson Motor (1) ... f L Renh B By HUpp MOLOTS. s ss 8% 114 Ward Baking (B)... wara Baking pf (7). 5715 24 20% 2% Warn Bros Pictures. 46% 3% Warren Bros 11314 88 West Pa Pwr pf (6). 8% Western Dairy (A). Ve i B). Insur Sh(Md) (28¢). 2 T ea e DAt Interboro Rap Trans A e antrlalenon 3 Western Pacific pf.. int Bus Machine(n6) 38% Westers Unfon (6)-+ | It Cement (00 s 2 . 11 Westinghse A B(2). con-| 4 Int Combustion. ... 201 Wentinghouse (2%4). 393, Int Combustion pf 0 | e eh = 6015 22% Int Harvester (2%). 5 5% 1 White Sewing M pf.. Canton, China, will spend more than | 31 L x",lf:;“) o5 ;g Wilson & Co pt. o i 3% Match p! - ) Woolworth (2. $1,000,000 on new roads this year 167 f 55 G| oa S SWostREE (2400 French Morocco has started an exten- 20 8% — %' 301 46 Wrigles (Wm) (4).. sive plan for the development and re- b4 37 —1n 4 habilitation of the country. 88% el »l n 9 —-h 3 Yellow Truck. L 2 ) Loans for Fifteen Years No Life Insurance Required Low Interest Rates Construction Loans - . Presigent Llist V. Pres. o Ulinois Central. Indian Refining. . ... Chapter. ican Insti-| 182 25% Ingzersoll Rand (3).. 3 Inspiration Copper. . Ins Shares(Del) 50c. = 3 [OTTT RO IO 150 - JOTUR JOUNS -0y JOOUIRe, Washington tute Chapte first, ir The loca C. Boswe Constance D. Arthur E. Meade. The *“Resolved, Thet Trial by be Abol tingent tak » up of 3 Fogle m\d 15 subject was | 179% y Should | 62y m was 1 @ Washington Building HAKLEY P WILSON - Mortgage Loan Correspondent Metropolitan Life Insurance Company Loans made in the District of Columbia and nearby Maryland and Virginia + 4+ EE 3 S