Evening Star Newspaper, February 9, 1932, Page 13

"FINANCIAL. D. . AGENCY WINS | 1gh. 14% 2315 Washington Office of Aetna Life Company Leads in Business. BY EDWARD C. STONE. Vice President K. A. Luther of the Aetna Life Insurance Co. today an- nounced the award of the company’s “President’s Trophy” in the central division of the na- tional organization to the Washington office, Paul D. Sleeper, general agent. The award is based on the percentage of new business written during 1931, aver- age premium per thousand during the year, per cent gain or loss in bus- iness force, per cent of new business from old policy- holders, as well as on several other factors. The fact that Washington gained the cophy in com- petition with a great fany oth agencies l, “eld by the company offi- cials to indicate that business in the Nation's Capital is far better than in most other parts of the country. They think it should offset a good deal of the depression talk, because of the amount of new business written and because life_insura sold to people in so many_diff lines of business. It is announced that in the Wash- ington office during 1931, the average policy sold exceeced $10,000 per policy, proof that many people are finding money enough to meet large life insur- ance premiums. Practically all the big insurance com- panies are reporting more interest in insurance, both for protection and in- vestment, the montly reports from Hartford, covering all the leading com- pan}l{cs, showing Washington in the front rank. Steffe to Entertain Bankers. Edwin C. Steffe, who made such a hit at the District of Columbia Bankers' convention at Hot Springs last June, will apepar on the program of Wash- ington Chapter, American Institute of Banking, at the annual banquet next Saturday night at the Willard. He is a graduate of the itute and has al- ready appeared to splendid advantage at these annual events. He is a bari- tone soloist at the National Cathedral and a student of Myron Whitney. It alled that he was the District r of the Atwater dition in 1931 and d as a radio soloist. ant musical talent, s to banking, hav- Federal American EDWIN C. STEFFE has often_appe In spite of h the young m h 'd in \HA Yor lowing director John Wilson Mars C past operators and have b of ystem, where the work available was not sufficient to pm\:de full em, the regular ,000 work- number of whom | put on a five-day | basis. D. C. Exc ha'! e More Active. ngton Stock today than h $500 Wash- ries A. changing hancs bond of the t 1001, the most today. The 10-share lots, the dropping as low at 100'.. same deno Lansto: pe opened at t 53, on a 16- ident of the om a business District Jottings. of local bankers fecl | Recons Finance n will prove of much benefit | v as a The money d-faults in rai'road inecessary bank for trade uses in frozen assets d a luncheon of cap- adelp Tk 1 be the chief speake r Cnrpurmnn ha quarterly dividend cents on the preferred stock, pay- ble March 2 to stock of record Feb- Tuary 19. 0-Goldwyn Pictures Corporation red the regular quarterly dividend | of 47!, cents on the preferred stock. pavable March 15 to stock of record February 26. Business Notes NEW YORK. February 9.—Dealers in upholstery fabrics say that buying is continuing at a substantial rate. It is understood that furniture factories easing production schedules to e of carly delivery demands on ing lines and are reordering on up- stery goods as a result. It is esti- mated that more than 60 per cent of the ases are for mohair fabrics at prices varying from $1.25 to $150 a yard Firmness he market for print clos 2d to reflect an improved | sentiment in the industry, following re- | ports that mi” exccutives and selling | 2gents are pre- cliog amicably in plans | for curtailme + of productior. It was reported in merchandising cir- | cles today that orders for early Spring| merchandising are running in a larger volume than a week ago, with the ready-to-wear lines attracting increas- ing buying interest as the fashion trends become better defined. Millinery dealers report that orders for Spring goods are definitely on the increase and manufacturers expect that the current week's business will be best since the opening of the season. TU. S. TREASURY CERTIFICATES (Reported hy Chas. D. Barney & Co.) Bid. Ofter. 100 2-32 100 2°32 100 8 38 99 3132 264 100 432 66 15 L 33s Fen, 15, 1982....0. 100 o NEW YORK STOCK EXCHANGE THE EVENING STAR, WASHINGTON, D. C, TUE Received by Private Wire Direct fo The Star Office. — ck and Low. Dividend Rate. 2 Abitibi Pwr & Paper. 1 3% Adams Express. 3 50% Adams Exp pf (5).cas 2 Adv Rumley.... . 12'4 Affiliated prod 1.6 47% Air Reduction(1414). 7 Alaska Juneau (50c) 1% Alleghany Corp..... 2 AllegCppf $30 ww., 1% Alleg Cp pf §30 xw. ., 64 Allied Chemical (6)., 10'% Allis-Chalmers(50c) 5 Am Agri Chem(Del). 124 Am Bank Note (2) % Am Beet Sugar. 1's Am Beet Sugar pf 13'3 Am Br Shoe (1.60). 58% Am Can Co (15) 4'5 Am Car & Foundry.. 20% Am Car & Fdy pf (7) 5 Am Chain. Am Chain pf (7) 4 Am Chicle ($3). Am Comcl Alcohol. Am & For Power.... Am & For Pwr pf(7). Am & For Pwr 2d pf. Am Home Prod 4.20.. Am Ice (2)... . Am International. Am Mch & Fdy 1.40 4 Am Metal Co... Am Metals pf. Am Pwr & Lt (31) 4 Am Pwr & Lt pf (6) Am Radiator (40¢).. Am Rolling Mills.... 4 Am ety Razor (5) Am Smit & Rfz(50¢) Am Sm&R 2d pf (6). Am Solv & Chemical. Am Steel Foundry Am Stores (1 ).. Am Tel & Te' (9). Am Tobacco (16). Am Tobacco B (16). ‘Am Tobacco pf (6 Am Water Wks (3 Am Woolen Co pf. Anaconda Coppe Anaconda Wire Anchor Cap (2.40) Andes Copper. . Armour of Del [\(( 7 ) . Armour of 111 (A)..+ Armour of 111 pf Art Metal (40¢) Associated Dry Gds. Assoclated Oil. . 1Y ITOS\’lnl"elfo) Atch To&S Fe pf(h) Atl Coast Line (4)... Atlantic Refining (1) Atlas Powder (2).... Atlas Powder pf (6). Auburn Auto (f4)... Aviation Corp (Del). 4% Baldwin Locomotive Baldwin Loco pf altimore & Ohio. 21to & Ohio pE (4) . arker Bros. .. Barnsdall Corp. Bayuk Cig 1st p£(7) Beatrice Cream (4) TereaanSone 9 a PPIoRs FEDTR-3 Mo SR e e 174 neuneh»m Stesl 6 Blaw Knox (50¢). hs Ada (80c). (AR o Byers (A M) pf(7) a Packing. . inc & Ld.. adian Pacific 14 tal Admin (A).. QD Cos.. (1) pf (D). irre (1% ) . b Mills Ches & Ohlo (21) Chesapeake Corp(3). Chi Great West pf Chi M1l StP & Pac. ... ] P & Pac pt. Corthwestern. Northwest pf., 1 & Pacific. Pac 6% % t. Fac 7% pf. ompany. er Corp (1). .. City Ice&Fuel (3. mb City Stores. ... ‘Iu\ll Peabody 1”) - 714 Coca-Cola (8). te-Pal-P ( Columbia G&E! Columbia Carhon Comcl Inv Trust (2). Comel Solvents (1).. Comwlth & Sou(30c). Comwlth o care mi es BBk eBuieSnanom—Brate “onsol Film. “onsol Film pf (2). ‘onsol Gas N Y (4).. “onsol Gas NY pf(5) nsol Laundries(1) onsol Textile “ontainer Corp (B). ontl Baking (A). ontl = “ontl Can (214 ont Tosur (240 “ontl Oil (Del) ‘ontl Shares “orn Products ‘rown Cork (2.40) “rown Cork pf rown Zellerback. ... rucible Steel pf (7). Curtis Publishing(2) Curtis Publish p£(7). Curtiss Wright. . 1% Curtis Wright (A).. 7 Cutler Hammer 13% Deere & Co pf (1.40). 17% Delaware Lack & W. 110% Detroit Edison (8).. 5% Detroit & Mackinac. 10% Diamond Match (1). 19%s Diamond Mtch pf 1% 11 Dominion Storest11s Douglas Alrcraft (1) Dresser Mfg B (2)... Drug Corp (4). Dupont de Nem @ de N pf (6 tman Kodak (18) stman Kod pf (6). tington-Schild. tington-Schild pf ec Auto Lite (4) ectric Boat. . ... - ec&Musical Instru ec Pwr & Lt (1) ec Smrpumc [ John pt (1) ireka Vac Cleaner. xchange Buf (2 2 Fed Mo 3 Fed Water Service A 20 Fid Ph Fire In(2.60). 12% Firestone T & R (1). 46% Firestone T&R pf(6) % Fisk Rubber.. 8 Foster-Wheeler. 15% Fourth Inv 1.10. 215 Fox Film (A). . 20 Fuller Co 2d pf Gamewell Co (3). Gen Am Investors... Gen Awp Tank Car(4) Gen Asphalt (2) Gen Baking (2). Gen Bronze. 134 Gen Cable, Gen Cable (A) llh Gen Cable pf. 19% 26 Stock lnad w. Divigend !2‘;'6 Gen Electric (1.60).. 10% Gen Elec spec (60c).. 281, Gen Food Corp (3)... 1% Gen G&E A (b6 % stk) 2914 Gen Mills (3) . 211 Gen Motors (2) n Motors pf (5). % Gen Outdoor Adv Gen Prtg Ink pf ( Gen Public Service Gen Ry & ¢ Gon Tealty & ULIL. Gillette Sat Glllette Saf R pf (5 Gimbel Bros pf (7).+ Gobel (Adolf). Gold Dust (2 Goodrich (B ¥ Goodrich (B F) p: Goodyear T & R (1) 4y Goodyear 1st pf (7)., Gotham Silk Hosiery, Graham-Paige 2 Grand Silver Siores.. Grant (W T) (1). Great Northern pf(2) eat North Ore(2) 5% Great Western Sug.. 74 Great Wn Sug pf(7). 1 by Grunow Th Hahn Dept Stores. 14 Hahn Dpt Stpf(6%). 11 Hall(WF)Ptg(a30c) 113 Harh & W 1 Hay 68 Hershey 10% Holland 5% Hollander 213 Houdail 5213 Houschold Fin pf 4.2¢ 15% Houston Ofl. 3 Houston Oil (new) 11% Howe Sound (2). . liitnois 9 Ina Ins Shares(Del) Insur Sh(Md) ( ‘!‘) Interboro Rap Trans inth I'\l Carriers Ltd 50c.. Int Cement (3)..... Int Harvester (2% t Harvester pf (7). t Hydro E1 A (e2) ., Pwr (4 Twr (B) Pwr (C). Pwrpf.. »t Joose Wilen 18t (1) Nard (P) (1.20). isville & Nash(4) yra Pore M (05 McKeesport TP (4)a Missourl Pacific. { Pacific pf. . comery Ward Nat Dist Prod ( Nat Lead pf A (7). t Lead pf B (6). Con Cop (40¢) N Y Central. N Y Ont & Western. ., N Y Railways pf. N Y Steam pf (6). Noranda Mines (2).. Norf & Westn (12).. North Am Aviation., Nor Amer(b10 % stk) 4 North Amer pf (3).., North Am Ed pf (6). Northern Pacific (3). Norwalk Tire & Rub. 54 Ohio Oil. 2w Oliv Farm Corp. . ator (2%). 1 4 Pacific Gas & El (2). 36 Tacific Lighting (3). 93% Pacific Tel&Teleg(7) 37 Iackard Motor Car.. 513 Par-Pub (b10%stk) . 7a Park Utah. Pathe Exchange (A). Patino Mines Teerless Mot 5 Penick & Ford u) E Penney Penn'Dixie Cement... 4 Penna Railroad (2).. Peoples Gas Chi (8) Pere Marquette. Petrol Corp of Am Phelps Dodge Co Thila Co 6% pf (3).. Phila & Read C&I.. PLillips Petroleum. . Pierce Petroleum. Pillsbury Flour (2). Pitts Coal pf. . Pitts United Corp. % Prairie Oil & Gas. Prairie Pipe Lin Pressed Steel Car. .. Proct & Gamb (2.40) . Proc & Gamb pf (5). Public Sve NJ (3.40). Public Sve NJ pf (5). Public Sve NJ pf (6). 15% Pullman Corp (3)... 3% Pure Oil. . (Continued on Page 14.), BTt TN+ PR O SRR ey -gupey. R T T T - 5 » 11+ 141+ © 4| ) (= % % i (R { heid very i 2 opened off 1 | August, 1929. - VEF) o P+t DAY, FEBRUARY 9, 1932. STOCKS STRONGER .| INQUIET MARKET Leaders Display Better Re- sistance to Pressure. List Gains. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, February 9.—Probably for technical reasons, today's stock mar- ket exhibited a firmer tone, with frac- tional advances predominating, but with trading stil limited in volume. 1t seemed to be the support accorded the industrial leaders that stiffened re- sistance to the decline in the early dealings. At the start prices were slightly lower, but supply did not in- crease on the reaction, as it had done in recent sessions, and /after an hour or so the list worked Righer. During the initial selling new lows were record- ed by Atchison, General Electric, Chrysler and Peoples Gas. Earnings Prospects Revised. No fresh explanation was offered for pressure on these stocks nor was any | needed. Traders still professed to re- | gard General Electric as over-valued under present earning ccnditions, tak- ing into account the various split-ups. Dividend doubts actuated the offerings in Chrysler, which was influenced also | by the selling in General Motors the day before. For Atchison earnings estimates were being revised downward on the traffic figures. For a time the oil shares were weak, | Standard Oil of New Jersey selling off a full point.~ On the other hand Auburn | Auto met short covering and gained a polnt or two, & modest recovery for | a stock which had dropped over :.‘ points in a week. United States Steel firmly, either because nf’ banking support or because of the high | premium charged to the shorts for the borrowing the shares. In the railway list Missouri Pacific preferred rallled | presumably in response to the efforts of the group working in the stock. | American Can, Air Reduction and J. 1 Case were steady., Western Union | improved slightly. | Opening Prices Sag. | The opening was lower. United States Steel opened at 383, off 35. Bethlchem Steel was off a frac- tion at 1 American Can declined | 1, point to 57';. General Electric Tost | i & and hit a new low level. Peo- P! Gas dropped % to 96%. Also a/ hew minimum. | There was nothing in the news to account for the lower trend of quota- tions at the start. American Telephone at 111'; lost '.. American Power & Light at 13!, Consolidated Gas at 56 Public Service Corporation of New Jer- sey at 5014 and National Power & Light at 123, were all fractionally lower. A| block of 5000 shares of General Mo- tors appeared at 20'4, unchanged. Nash | at 153; and ElecWric Auw Lite at 257 8| were bu{h down slightl: With the ex- | ception of Stindard Oil of New Jersey | at 26!, which was off a fraction, the | oils opened unchanged. Canadian Pacific, which declared the regular common quarterly dividend, opened at 133,. off ois Central at 113, declined l,. Pennsylvania opened Off at 1 at 191, but New York Central at 25'¢ and Southern Railway | at 9 each gained slightly. Anaconda opened lower. United Fruit rose 3, to I Case was unchanged at and I »lxa:mmu Harvester at 211, ock I.osn Ratio. By the Associated Press With the stock loan ratio—that is, the ratio of Stock Exchange member borrowings to the market value of listed shares. down from the 1929 high of around 9.80 per cent, to & new rec- ord minimum of 194 per cent as of | February 1, the drastic reduction in the ranks of margin traders is evident. | | Quite as interesting as a measurement of the deflation of the last 30-odd | months, however, is the fact that the average value of listed shares just now | is about $19.99, contrasted with an av- | erage value per share of $90.30 in CLEARING HOUSE FIGURES. Washington Glearing House figures for today: $3,977 FOREIGfi EXCHANGE (Quotations furnished by W. B. Hinbs & Co.) Fogice’ i900c " ._crown c dian Exchang discount. U. 8. TREASURY BALANCE. The United States Treasury balance announced today as of close of busi- ness February 6 was $609,273,008.07. Customs receipts for the month to date were $5471,669.59. Total ordinary ex- penditures were $11,538,834.41. e SILVER QUOTATIONS. NEW YORK, February 9 (#).—Bar silver quiet and unchanged at 29% cents. NEW YORK BANK STOCKS l NEW YORK, February 9 (?)—Over- the-counter market: \ ! | | Chase. Chat_Ph Comercial Natl First Natl N Y | Manhat Co . Natl City . Public oo Trust Companies. Bankers' Brooklyn Cent Hanover . New York 6% Secured on conservgtively appraised residential proper- ties. Lwery mortgage pro- Zactediby fire snsuranice and title guarantced by responsi- ble title companies. - IN DENOMINATIONS OF $250 and upwards BOSS & PHELPS Realters NAtio FIRST MORTGAGE NOTES 1417 K st Haril Offices The People’s Life Insurance Bldg. 14th and H Sts. N.W., The Location —is in the center of the busi- ness section. The Buxldmg —is architec and of moder; struction. The Rooms —are spacious, bright newly decorated, The Service —is second to none. The Tariff —is moderat tages offered. ROBT. CALLAHAN Manager Metropolitan 5866 for the advan- Reom 201 l * lllIlllIllllIlIHIIIIIllIlIllIIIlllHI|IIIl.IlIlIlllllIlIIIIIIIII|IIllIIIIIlIIIIIlIIIIIIIllI|IIflllIl||IfllllIlllIIXIIlllllllllllllllllllllll¥ We Give Property Management Personal Attention | T is only logical that with our capably organized depart- ment for property management we can render most efficient service—whether building, residence or business We have the personnel for constant supervision and the facilities for solving every problem to your best advantage— and for a very modest fee. PROMPT Remittance " is the INVARIABLE Rule of This Office RANDALL H. HAGNER & COMPANY MOXTGAGE. Loan 1321 Connecticut Ave. | ¥ i ¥ PROPERTY Apartment House MANAGEME the your apartment house property —rentals, operation, care, etc.— keeping overhead and income in proper relation. All to your relief from worry and your better profit. Our fee is a very nominal one. - B. F. SAUL CO. 925 15th St. N.W. — MORTGAGE MANAGEMENT HIS Property Management it's an apartment house, office property. CORRE SPONDENT Decatur 3600 NT service of ours assumes all details in connection with Nat’l 2100 ' Under Government Supervision FINANCIAL. Tonnage Decrease Predicted. NEW YORK, February 9 (#).—Dow, Jones & Co. says the January 31 um-| filled tonnage statement of the United | States Steel Corporation, to be an-| nounced on Wednesday, is likely to show another decrease. 1f & drop is recorded, it will mark the tenth consecutive | month of decline and another new low | record in unfilled orders for the past 21 years at least. NVEST —yonr uvinp in s% Mf it Safe, Soi Convenient Deneminations Real Estate Mortgage and Guaranty Corp. 1610 K St. Nat. 1403 COLUMBIA rea: BUlLD]NG v & Ianme' ASSOCIATION || ™ Imesine PAYS Ist Mortgages l—on conservuti\cly ap- | praised Properties in the | 0 District of Columbia and | New Accounts Solicited Maryland. Increase Low Denominations May Be Purchased For Further Particulars Apply EAVER BROS No Commissions Charged for Loans Open Until 5:30 Government Pay Days 716 11th St. N.W. REALTORS Washington Bldg. Di. 9486 | Mortgage Loan Correspondent, tan Life Insurance Co. Capital and Surplus, $3,500,000.00 The Needs of 55,000 Depositors —are satisfied by the Service and Protection afforded by this time-tried institution. 1 Such wide-spread confidence is worthy of your considera- tion, if you have cash that you want to put to work safely B and profitably. o, Interest Paid on Both e S Checking & Savings Accounts NATIONAL SAVINGS & TRUST COMPANY The Oldest Savings Institution in the District of Columbla Corner 15th & New York Ave. AN INDEPENDENT INCOME OF §1,100 TO $1,900 A YEAR —a cash estate of from $20,000 to $34,000— Is created under Investors Syndicate Accelers- tive Plan “A”, Plan” A" calls for payments of $9.75 monthly for the first two years. Modest increases in pay- ments then keep pace with increase in personal earning capacity. $3,700,000 PAID TO CLIENTS IN PAST 12 MONTHS LISTEN! ro rme INVESTORS SYNDICATE SUNDAY BRIGHT SPOT over N.BC createsand deliverseninde- pendent cesh estate of 212 to 4 times the total amount invested—a permanent in- come of 3 to 5 times the wynaximumpaymentsrequired fo create it. Ask forPlan Sheet A", “From $9.75 to Independ- ence”, See coupon. INVESTORS SYNDICATE i Send"“From3$9.75 to Independence” to 738 BARLASHINGTON, D. C. 'AL\’IMQ“ Telephone. Mllowln‘m 1879 ANGELES FINANCING AT LOW COST First Mortgage Funds (three years or longer) 3% LOANS on residencesand business buildings, in District of Columbia and nearby Maryland suburbs .’ . . Ample funds, lower interest, prompt approvals, valuable prepayment privie leges—and the competent counsel of over forty years' experience in this field. + H. L. Rust Company 1001 152 Street National 8100 Loan Correspondent for “The Prudential” LOANS