Evening Star Newspaper, February 26, 1932, Page 14

FINANCIAL. STOCKS IRREGULAR IN UPWARD MOVE | Gains Are Small, With Spe- cialties and Food Stocks Featured. (TA—14 *¥% THE EVENING STAR, WASHINGTON,-D. C, FRIDAY, FEBRUARY 26. 1932. PLEAFORBUSINESS [ TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE g . 4 . | —Prev.1932 Sales— ° N P Stocks sold in 100-share lots except those desismated by letter “S.” | —Prev 1932 Stock and Sales- - Stock and et. | ~Prev 1932 Stock and Sales— Net. FPR’V."’!Z‘ Stock and Sales— Net. High. Low. Dividend Rate. High, h’_' Close. Cl’ll‘e Hll{t Low Dividend Rate Add 00 High. Low. Close. Chge. : High Low. Dividend Rate. . High. Low. Close. Chgt 9 9 75 8% 14 Sterling Secur (A).. 2 1 1 1 443, United Stores pf (4). 44 a3y 4 High. Low. Dividend Rate. Add 00. High. Low. Close. Chge. 5' Hollander Sons 9 - ’ 3 2 Abitibi Pwr & Paper. oy % 2% 164 Houston Oil. 1913 - Yy & 20 Sterling Secur cv pf. 3 . 29:. 20% + W 10% % Util Pwr & Lt A (2). 91 5 Abitibi Pwr & Papf. 7 314 Houston Ol (new) 3% | Stewart Warner..... 2 & 5l — 5% 3% Adams Express..... 5 4% + % Howe Sound (2). 2 10 - 9% Stone & Webster (1). M5 118 | A s Salex Coepi: Studebaker Co(1.20). 8 . 10 2 Vanadium Corp. 5 e % Va-Car Chemical. ing: H Adams Exp pf (5)... s 65 +6 2 3 2 - ™ Towson Makes Interesting Ay Rumiey ; e T ko 4 Hape Motore e it o YarCar Chemiea & Texas Co (1)......- 297 19&% Vulcan D'tinning (2) —_— Address Before Graduates 2 Indien Moter C Tex Gul Sulphur (). 12 U2 4 % Affiliated prod 160. . Afr Reduction(f434) T o *4 Indlan Motor C: g ATASka I S0 « Indian Refining. Tex Pacific Land Tr. 3 7 ; 4 114 Waldort Bys (1%) ! of A. I. B. Indust Rayon (4). Third Avenue - - u | 3 2 WalworthCo....... Hompson Erod 130 21, Warn Bros Pictures. Alleghany Corp Allied Chemical () . e A T Inland Steel (1). lide Water Asso O - X s Tide Water As pf(6). * Wesson Oll&Sn (1), Allis-Chalmers(50c) # Ins Shares(Del) 50¢ g ; Timken Roller B(2). Weat Pa Pwr o2 (1), BY GEORGE T. HUGHES. Alpha Fort Cemt (1) Am Bank Note...... 6 o Interboro Rap Trans Rank Note pf (3) 200s o > Am Bank Note p (nt Bus M,d;mde”o,c) ;H::-:c» Products. 7 15 Western Dairy (A).. 7 +3 | Special Dispatch to The Star. Int Carriers Ltd 50c. T'»h:r:: rr‘v:zg‘l;l:flgc. 4 ? NEW YORK, February 26.—Without stern Maryland. . making any emphatic response to the Am Can Co (15 = Am Can Copt (T)... 2 It Campit () : Int Combustion Tob Prod A ct t95c. . 8 3 2 "estern Pacific Transamerica Corp 2 4 - reduction in the bank rate, the stock Am Car & Fdy pf (7) 60s Seaeni L Do R am Comel Aleohal.. 42 B i . ; feet g‘mriuy\d S A'",: et prr'(")' Int Harvester (1.80). Tri-Contl Corp. 8 3 31 v 7 3 . . . | market today displayed rallylng ten- onk( E\: problems Am Haw Stship ”‘) Int Hydro E1 A (e2). ] Trnmv_n.&'w\... e ¢ ‘denms after an early period of hesi- ety i atne Am Home Prod 4.20. Int Match pt (4)..... Twin City R T pf(7) | tation. Trading was in small volume Ineatures as_ ate A Locomot b7 e necessary A Mo B ROy 19 Int Paper & Pwr (C) Am Pwr & Lt (31 5 o) i el o 1 ; Am Pwr & Lt of (5 : 5215 52w A0 B i e O 3 cust _off 1 9% 3 Am P & Lt pf A 1214 7' Int Tel & Teleg(60c) 2 established t 5 Am Radiator (40c 0 ¥ LA Tt G Caek (X5, siness Am Republics . —_—_— ;)irtvbuand ethics— 7% Am Rolline Mills. ... p 15% Johns-Manville (1).. 70 and stop chasing Am Safey Raz (3) 76% Jones & Laugh pf(7) 120s I\:'mnnn Dpt Strs(1). rainbows.” : Am Shipbuilding (5) frnese’ pere, Lo i Sl RUsG0S) Kayser (1)&Co (1) conclusions reached Am Snuff (13%).... 1 4 by Norman Am Snuft pf (6)..... s 99 < % .l Towson, assistant Norman E. Towson. Am Solv & Chemical. Kelsey-Hayes Whee treasurer of the ‘Am Solv & Chem pf. e S b ce Dy Washington Lcan & Trust Co., in 8| Am Sugar (4)....... e L & Forn Secur . ¢ , forum address before graduates of the Am Tel & Teleg (3).. Eiesg ta sy Ihen). e G e RS o New Yeck K pr 13 : American Institute of Berking, at a) 83% Am Tobacco B (16).. Kreuger & Toll 1.61. 103 o il 28% 2 7 ond 1:30 PIM. 600,000 10 P.M.. 700,000 meeting in the American Security &| 110% Am 1nl‘nmonfrl§'-. Kroger Grocery (1). - ‘Trust Buildin e the Forum Am Type Fy pf (7). - Committee chai a e . Am Warer Wks (3) 4::1 :‘::!:;rli s;ef\_};}z‘h ?5)1;‘-"!‘ = d g 3 5 4 o b Lehn & Fink (3).... 9 9 “ 3Riy 1tk itef pf . Archer-Dan pf (7) 95 3 I‘I"f’« Sers B/ (15) 5 . ‘ DiSsselnt ¢ . m Paid last year—no regular rate. nPlus 5% in stock. p Plus|resumed dividends. United States In- Armour of Del pf(7). -1'|L§|.|- rnomé«") i g 2 - % 2%¢ in stock. dustrial Alcohol was strong. the food g Lia 'a B ererrene = e Ca stocks did better under the leadership Armonr ot It . Loetws Inc pt (€4) WHOLESALE SELLING |FEDERAL RESERVE BANK | furasvir st Siienth’ Hiefer ribes Armour of 111 pf i 2 ment _issues. Arnold Constabl . 2 an . 5 12 Lorillard (P) (1.20). | Th arket for United Stat ], PRICES ARE STRONGER| CREDIT ITEM DECLINES |, market for United States steel T e 1 Louisiana Oil. - e Lou Gas&El A (1 By the Associated Press. and American Can was more irregular Atch To & San 21 Touisville & Nash(4) F.INANCIAL'. BY EDWARD C. STONE. “Let us divorce our minds of rosy dreams of what might have been had 1 19% Wastingho Int Nickel of Can 6112 Westinghse Int Paper & Pwr ( tributed and not large enough to estab- lish a major trend As a partial offset to the cut in the New York Federal Reserve Bank rate ta 3 per cent, the market had to ap- praise the fresh batch of January rail- . | road earning statements that came out Wilson & Co pf . today. These were fully as unfavorable 36% Woolworth (2.40) "y @S the most pessimistic had predicted Unit Corp (40c) 16's Worthington Pump. . — 1,{and under the circumstances the rafl- Unit Corp pE (83, v 4 E 31% Worth Pump (A). road shares held up remarkably well. Unit Electric Coal. 3 3 3% - 3 25 Worth Pump (B). 2 — % | Union Pacific was higher and opening losses in most of the others were re- gained in large part. The February * | reports will show the effect of the wage % | cut and it may be that the figures com- ing to hand now will be the poorest of the entire depression As vesterday, the greatest activity on the upside came in the specialty list. Dividend rates as given in the above table are'the annual cash | Notional Distillers made a new high payments based on the latest quarterly or half-yearly declarations. | for the year, reflecting the declaration “Ex-dividend s Unit of trading less than 100 shares. tPartly | of an initial quarterly di extra. $Plus 4% in stock a Paid this year—no reguiar rates | Of 87 INIIA1 quarterly dividend on the © Payable in cash or stock. f Plus 8% in stock. h Plus 27 i | Preferre - Glllette made a new stock. J Plus $1 in special preferred stock. k Plus 3% In stock. high—another stock that very recently Union Pacific (10). Union Pacifie pf (4). Un Tank Car (1.60). Unit Ajreraft. .. .. Unit Biscuit ¢ Unit Biscuit pf (1) 813 White Motor. .. 4 White Sewing Mach. cox Oil & Gas. . Unit Cigar Stores ruit (3). 6 5 4 X Unit Gas&Im(1.20). . 123 1:’:?::;’:::: Unit Gas&Im pf(5).. ¢ Unit Pice Dye W (1) 6% Zonite Prod Corp (1) Sales of Stocks on New York Exchange. ly piciure of our pr and as they fade int the perspe of time, our frail bark will climb again to the crest of the wave and the world will still go on “Just as the war and the succeeding era of inflation was a drunken orgy, 50 may our present situation be liken- WITH CAPITAL INCREASE ed to the succeeding headache. What can be said for an_cphemeral, so-calied vrosperity which leaves such disaster in its wake? Very little; and so we need not mourn too loudly the lack of 2 superman to bring back to us the dreams—and the disillusion.” War Debts Given Attention. Mr. Towson discussed in detail the problem of bank failures end presented many statistics on the subject. He sug- gested that ideas for the improvement ©of conditions in this country might be taken from the Canadian system. He reviewed the unlimited amount of {nter-government war borrowing which he said has “brought the world into a state where reparation cnd debt pay- ments in the aggregate constitute such a jarge total as seriously to restrict the Tecessary flow of money and credit in the channels of internationzl trade. This stranguiation of trade is more Atl Coast Line (4)... Atlantic Refining (1) Atlas Tack . Auburn Auto (f4)... 175 213 Aviation Corp (Del) 30 % Baltimore & Ohio. Balto & Ohfo pf (4).. Barnsdall Corp. Eeutrice Cream (4).. Beatrice Crm pf(7).. Belding-Hemingway Bendix Aviation (1). 4 Best & Co (2). . RBethlehem Steel Blaw Knox (50c). Borden Co (3). Borg Warner (1). Briggs Mfg (1)..... Bklyn-Man Tran (4 461 BKlyn&Queens pf(6) 1% Bruns Term & Rwys 51% Bucyrus-Erie cv pf. 1% Budd (EG) Mfg 2% Budd Wheel. . 11; Ludlum Steel. McAnd & Forbes (2) . MclIntyre Porc M (1) McKeesport T P (4). Mack Trucks (1).... Macy (RH)& Co(n3). Madison Sq Garden. . Mazma Copper(502) . Manhat Elev gtd (7). Manhat Elev,mod gtd Marine Midld(80c). . Marlin-Rockwell (2) Marmon Motor Car. . Marshall Field & Co. Maytag Co pf (3). Met-Gold Pic pf 1.89 x Miami Copper Mid Continent Petm. Midland Steel (3) ... Midland Steel pf (3). Minn Moline Pow. MStP&SSMpL.... M StP & SSM Isd (4) Mo Kan & Texas.... Special Dispatch to The Star LURAY, Va., February 26.—The First National Bank, which has ben closed since October 6, reopened yesterday with a number of new officials, nearly twice the capital of the closed bank, and a surplus of $25,000. E. N. Hershberger, county treasurer, is president of the bank, W. L. Rhodes, vice president, Warren Frank, cashier, and Robert Huffman, assistant cashier. The board of directors consists of E. N. Hersh- berger, Dr. Loring Hammer, Dr. E. G. Brumback, W. L. Rhodes, 5. Lynn Walton and Buford Mauck. A stockholders’ meeting will be held to make application for a new charter. Thirty days from this time reorganiza- tion will be completed. The new bank is represented by 5°0 shares of stock and 100 stockholders. Wholesale selling prices strengthened to the extent of one fractional point last week as the trend was calculated by the Commerce Department. In the index that follows the level is given for comparable periods, based on repre- senting 1926 prices as 100. In addi- tion, the selling price of a ton of com- | posite steel products is given for like periods: Week ended Feb. 20 Previcus week Same week last year.. All commogdities. Steel LoTeT T sesd CONSTRUCTION CONTRACTS. NEW YORK, February 26 (#).—Con- struction contracts awarded in the first |15 days of February in the 37 States east of the Rockies amounted to $35,- 028,500, according to the F. W. Dodge | By the Associated Press | 'The daily average volume of Federal Reserve Bank credit outstanding dur- ing the week ending February 24, as re- ported by the Federal Reserve banks, was $1,775,000,000, a decrease of $20,- | 000,000 compared with the preceding | week and an increase of $862,000,000 | imm));red with the corresponding week in 1931. Preferred Dividends. NEW YORK, February 26 (Special). | —The reduction in the dividend on | | Aluminum Co. of America pre(en'ed“ stock is regarded in the street as sig- nificant, in that the effect of lower in- [dustrtll earnings is beginning to show | in distributions to holders of senior shares after having caused the omission of payments on many common stocks. | Steel seemed to be in supply on every rally. Westinghouse was heavy on doubt as to what would be done at the postponed dividend meeting. American Can was steady and Allied Chemical somewhat higher most of the time. The utilities made a better showing, with Consolidated G2s and American Tele- phone meeting good support. The cut in the bank rate brought a cduction in bankers' acceptances to- day by the de2lers and the New York Federal Reserve Bank reduccd its buy- ing rate. Naturally, the effect of the strenuous campaign_to decrease the cost of credit was look>d for in the bond mark:t. Stocks were still await- ing business improvement. Along that line the recalling of 400 shop employes by the Pullman Co. was encouraging. Earning reports were not very help- ful. International Cement showed $2.25 a share for its stock in its annual state- ment against $7.12 a year ago. During the morning hours the mar- costly by far than would be a downward 15% Bush Terminal(21%). Yestatement of these international ob-| “3i, 1 Butte Copper & Zinc. ligations to = point within the capacity | 19 ° 104 Byers (AM). of the debtors to pay. and. mOre M- | mm— e portant, within the capacity of fl;; 1:" 2" t-:!:;‘;;’rfl; ;",?]‘;ng“ normal financing of foreign trade 105000 Catarn DN IO Sipa 107 Canadian Pacific 1% Missouri Pacific. Dividends have been omitted on the | ket f v N Missourt Pacif s Washington Produce| | corporation. Non-residential building | class “A” and class “B" _preferrea ey e (WAir 7ty h e . 3 s | led among the three major construction | Stocks of the Worthington Pump Co. | sion it dipped 4 points to within a frac- 9 | 2 which had been regarded as quite se- | tion of its previous low and at Mother Lode. ....... ‘classes with-$21,857,800. cure until lately. Of less importance | time it was anonun b and at noon ible fact th 19 2{02%‘;,:[:(‘;; Sl& - 2 e R gs ?1“ gjspenslan e e | pok ' - —- - “It is incontrovertible fac hat —— 9 Mul A . 25. antic, ulf & West Indis g0 much wealth wes destroved during| 43% 26w Case (1D Co... _B% 5% MurrayCorp....... 13 s mnner, 24; current secetviz | DIVIDENDS DECEARED. | | e inetean e A" lncue rave SILVER QUOTATIONS. the* war, and so much capital was T8 0 COSS T oo 2y 15 Nash Motors (2).... 4+ %[13 e ber of railroad preferred dividends were| NEw YORK, February 26 (f).—Bar sterilized during the past war orgy of 3% Celanese Corp Nat Bella Hes : 4 passed some time ago, ‘including those | giiver easy and ' lower at 30, socialistic expenditures as to make it| 0 SR (CRTEC SR Nat Biscuit (2.80) NEW YORK, Pel of the Southern, Missouri Pacific, Chi- | i i {inreasonable to hope for its restitution f St hnae bl - » Pebruary 26 ()— cago Northwestern, Rock Island, Prisco, | ut of the incomes of debtor nations.” o - : Pe- Pay- Hidrs. of | Missouri - Kansas - Te: an ““After quoting from the published SR;:&S";JS&;?‘L?&): 21a23; hens, large, 16a18; small, 16a18; | CO™PnY e~ s 1\ Central. The omly senior ‘17,03:1;“00‘7 CHICAGO DAIRY MARKET. writings of several eminent economists OlliGreat Wostint. Leghorn hens, 14a15; capons, large, 24a Extra. public utility companies that have so| CHICAGO. February 26 ().—Butter on the subject of gold, he said: “We Chi i;llstl’&l‘lc pf' Nat Distill pf (2%).. 26; small, 20a23; slips, 18; roosters, 10; | Maves Consol Mfg..25c .. Apr. 1 Mar.15|far been affected are of holding com- —Receipts. 9,494 tubs; weak: creamery must get the world back on a gold basis Chi & Northweatern., P " 3 Nat Enam & Stamp.. keats, young, 45a50 old, 25a30. SR Initial. {mnles with an accepted low credit | Specials (93 score), 221,-223; extras and to do it we must eliminate the in- Chi Preu Tool g p Nat Lead (5) Dran (neW e .. Apr.15 Mar,2s | Status which never commanded much | (92 score), ?l‘% extra firsts (90-91 . § Poultry, dressed—Turkeys, old toms, exorable force which is directing the Lo g Nat Lead pf A (7). 2% | 18a21; young toms and hens, 23a25:| °° | investment respect. score). 211,21 world's_gold toward the two centers ChiR1 & Bac 6% Df. Nat Pwr & Lt (1).... 3 chickens, 3 pounds and over, 21a23; | 5 Cuattiol. e e | 2012-21; seconds ). 19%5= Which have already all they need. e o Nat Steel (2) : 5t 215 pounds, 23825: 174 to 2 pounds, | Am Chain 7% Bf._$1.75 Q Dueat this time SOTATO MARKED 20: “Standards (90 score, centralized, car The institute members closed the eve- R Nat Supply Co. . 24a26; hens, large, 19a21; small, 19a20; | Reduced. . lot), 22 Eggs—Receipts, 15,468 cases; ning with a lively discussion of the Chrysler Corp (1)... Natl Surety 3 % | Leghorn hens, 17a18; capons, large, 278 | Gen Railway Sig...75¢ @ A Mar. 10| CHICAGO, February 26 (# (United ;;tr- firsts, 13%; fres‘h graded firsts, “Eeonomic Dilemma,” and the remedies. City Ice&Fuel (3.60). Neisner Brothers. 29; small, 23a26; slips, 21; roosters, 13; Georgia RR & Bkz52.50 Q Apr. 1|States Department of Agriculture).— current receipts, 1215 It is such a broad subject that they City Stores. . S Nevada Con Copper. . keats, young, 65a70: old, 30a40. Birelll co (laly).10% A It o fow matters to be settled when (b ol N T Alr Brake. L Mrate—Beet,” prime. 13: good, 12; i ey adjourned. Coca-Cola (A) (3) ; N Y Central. amb, top, 16: good, 15; weal, top, 15 umed. olate P NY N H & Hartfor sood, 14 pork loin, 11 fresn hams, |l Conl & Coke..de Maney on Hand te Lean on Much Small-Lot Buying Noted. 4 Colzate-Pal-P (214). N Y Ont & Western . : g . Callins A Alkinan. A stern. . 3; smoked hams, 16; strip bacon, 16; | Serip. unclassified, 70-72; Local brokers report that there has Colo Puel & Iron lard, package, 73 bulk, T; compound, |Gas Securities....11a% M Mar. s | O e saearommaot: sy || First Deed of Trust recently been considerable small or 3. russets, No. 1, 1.35-1.45. | Live stock—Hogs, light and medium, | Columbla G&EI( what is known as odd-lot buying by Regular. Noranda Mines (2).. 4.00a4.25; heavy. 3.25a4.00; pigs, 3.25a | Amer Tob pf......51.50 3 3 Stock Yields Tncrease. 6 ) lnterest % 5 Columbia Carbon (3) investors in this city. Such buying all “over the countsy i considered o Cred 1at(63) Norf & Westn (+12) . Ao ghs 3 00a3.00; calves, 400a |Baldwin Co bf A.3150 highly important, as the stock bought Comel Credit A (3). . Norf & Westn pf (4). o T 7 8.00: lambs, 4.00a6.50. * 777 |Can North Pow....20¢ NEW YORK, February 26 (Special) R e ok Comecl Iny Trust (2). sl byt 3 : o lie—Straxberries pinta, 15; quarts, 31| —There ere about 65 listed stocks now iy v - 5 oot -5 - o 3 . apples, ushel askets, al.25; North Am Ed pt (6) . fancy box stock, 1.50a2.50: oranges, |Comi Natl B & Tr.. Comm Inv cv pf(e6). tion for the next bull movement Comm Solv (60c).. . N 1t is the opinion of brokers and many 145 Northern Paeifle (3). 3.0084.00; lemons. _4.00a4.50; grape- | Commercial Creait - Comwlth & Sou (30 bankers in the city that stocks are go- S bt o) ing to hold at least a part of their re- cent gains. If they do hold up, they will have a favorable reaction on busi- ness sentiment. In fact, the better bond market and the improvement in stocks have already brought about a more cheerful view in financial circles. Members of the New York Stock Ex- change claim that the market is always ahead of business from three to nine months. In that case, improvement in business is believed on the way. Such improvement will, in turn, give the e Poultry, alive—Turkeys, old toms, 15a18; young toms and hens, 20a22; chickens, 3 pounds and over, 18a20; 2 to 21, pounds, 21a23; 1'; to 2 pounds, 4 Nat Dist Prod (2). N Y Shipbldg pf(7).. luw;rlhle Commission and giving yields in excess of 15 per cent. ur;;u::m o | Most of these are in the area above 20 JAMES F. SHEA per cent. There are still a few that 643 Indiana Ave. N.W. Do. 7' pf $1.75 Claude Neon Ei Do. pf (525) yield over 40 per cent and more than 200 showing incomes over 10 per cent. The proportion of listed stocks paying some dividend to those on a non- dividend basis is steadily decreasing. Comwlth&Sou pf (6) 5 65 5 Ohio O .. : Iruit, 2252250, honeydews, Chile Nt .. 4 o . 3 ¥ .50 'S, .. 5 . Conpotms Clsss (1) 5% Orts Brevator Deare 300: pincappics. 4.00: bananas, | oot Ay e Consol Cigars (5). 315 Otls Steel 5082.00; limes, per 100, 2.00; rhubarb, | Contl Gas & EF - Consol Cgr pr pf 6%. 5 914 Otls Steel pr pi hot_house, 1.00; plums, 1.75a2.00; nec- Bt Consol Fitm pf (2).. s 100 20 Owens 11l Glass ; tarines, 250: grapes, Amelras, 300 %L B ; Consol Gas N Y (4).. : I PR G E T egetables—Potatoes, Maine, SN B e Sonsal Y "d","'(‘f,) S « 31 Packard Motor Car.. g"“;“d 5";““' 2‘3(5, Hew bY";‘kI' 1‘;3 | g AT Conaol Textile. - i S 4| 105 sweet 60A8. string beans, 1.75a | Bomimn Bat (G > Contl Can (2%4). ... 3 B Ml oo i 225! limas, 3.7584.25; 7.50; lettuce, iEB!sE;nr_!né‘r\olgl;:a;:“!l 50 Cont Insur (240). % Eaths Meohtase. .. Toeberg, 3003350; peppers, 325335 oeado o Works | “ontl Motors, . 1% Pathe Exchange (A) 7 4 . | cucumbers, 2-dozen containers, 3.2 Contlien vos 2 9 Patino Mines. ...... celery, 250a3.00; tomatoes, repac 6 bl market a_boost. It makes little dif- Contl Shares. Peerless Motor Car. . 325a550; kale, 40a30; spinach, home. | O, Rz, Sienal e I ihe iy Bt T St Penney (J C) (2.40) . 307 300; beets, 2.50a3.00; carrots. 2,50 | IREIIN St 2 ettt gt BB i e el e Penney (JC) pt A (8) s 400] cabbage, crates, 200a2.50;| b X P e ity 3 broccoli, 3.00a3.25; salsify, dozen, 50a Brokers claim that the stock market 11 Cuba Cane Products. i 60; parsnips, 1.25a1.50; artichokes, 4.50 has already discounted most of the 1%; Curtiss Wright..... EozRIReLECRUNEN g L peoples Gas, Chi 9 9 25.00; watercress, 75; okra, 3.00; rad- present unfavorable business news and 174 Curtis Wright (A) e % !ishes, per 100 bunches, 1.75a2.00; as- | that it would not require much good | —T57, 7o Teere & Conf (1407 Petrol Corp of Am paragus. dozen, 3.502400; Spring on-| B news to start a substantial advance. 5% Delawaré & Hud (9).x Phelps Dodge C jons, 100 -bunches, 2.00; onions, 50- [ 2 o1l 10¢ The Reconstruction Finance Corpora- N DhiAalaten (1), Phila & Read C & pound sacks, 2.00a2.25; Spanish, 4.00; | Jones (J E) Koy Trust tion has already proved a strong bull L Do aines ) ... g Phillips-Jones pf (1) mushrooms, 75a90; turnips, bunches,| A Partrctfs....3418 factor by cheeking bank liquidation. Biih oo wpubi sy R amen | B2 v Phillips Petroleum. . + 1| crates, 2.00. Do S New York Cut: 47% Drug Corp (4) Pierce Arrow pf (6). 3 3 ———— — anded Bk Cuts Bank Rate. e e e Mabes_ Cons % Pierce Petroleum. m Local bankers were deeply interested 98 Dupont de N pf (6). U. S. TREASURY BALANCE. Mem P & L s 2 Postal Tel&Cable pf. Do. 57 i today in the Federal Reserve Board's St Kodik (5) Prairie Of] & Gas. ... By the Associated Press | Merrimac “Hat announcment that ths New York Re- et A ise b i Prairie Pipe Line. ... Treasury receipts for February 24 |nid west Tel A ddiyc serve Bank had cut the rediscount rate L Proct & Gamb (2.49) were $65,778,503.55; expenditures, $64,- | Midvale Co g Proc & Gamb pf (5). 086,554.12; balance, $465,942,586 62. Producers & Refin. .. Customs duties for 24 days of February were $18,501,812.17. 'ub Nat Prod & Refiners pf. . NEW YORK BANK STOCKS ‘Eugpcp?.,?kn,«c;r{.sn 1614 Otis Elevator (23%).. WE PAY 5% INTEREST ON YOUR SAVINGS SO One English society now prints the Bible in 872 languages. SERVICE TO WASH- ~ SECURE Accid 11 1l 7as “nsTiTuTion e — /\CCI el‘lt— ALWAYS READY TO SERVE YOU WITH AD- —Insurance— || [l o= ke “ima: Before March 1st AN g THBADERY OF YOUR INTERESTS. UNDERWRITING REVISION fl-:cog_a::!smsr:'xht‘:;rxvz MARCH | . & 2 st. ANTAGE_OF | ; PRESENT RATES AND FORMS, Open Daily 9 to 5 Saturdays Until Noon Men and Women NATIONAL SEND FOR FOLDER DESCRIB- ING PROTECTION. NOW OBTAINABLE AT RATE OF— BUILDING ASSOCIATIO 949 NINTH ST..NW. WITH 42 YEARS OF REgzzZXEZZ 0O0OOCO DO OOOO OO DOECOO LOOO O PO -t from 31, to 3 per cent. This is heid = to be the first move in a policy of ot credit easing predicted as a result of et Congressional action on the Glass- B Eor S Teatler Steagall bill. The action gives assur- Elec Pwr & Lt pf(7). ance that the new legislation will be 4 Elec Storage Bat (3) used to overcome deflationary tenden- Elk Horn Coal pf..... 1008 gles which have carried prices to such e ow levels. b Offie 3 Fetoral Reierve offidials are known to| ‘10 174 BauitOfice Blagzy 1 g Radio Gorp. have foreseen the desirability of Credit | em———— Radio Corp pf > easing moves more than a month ago, (e Pk Radio-Keith-Orph. . . but_developments abroad were an ob- Fed Water Service A Ravbes-Manhat (1). gnase . stacle to their putting the policy into Fid Ph Fire In(2.60). Reading 15t pf (2) ... 2 T s R RS 157" 188 Lt 8 or of immediate effect ST, : Reading Ry 2d pf(2) 2 4 2 | Hsshattan " co. o 108 SRR et Natl Bts 215 Real Silk Hoslery. BB 3% 4 | Nademal City 3 Reading Co. st Natl Strs,(2% 2 Remington-Rand.... 3 24 2 29 | S W Penu Pipe Line $1 Rubber. .. 5 y State St Exchange. . _$1 WE Rub Ini ot 5y Reo Motor Car. TRUST COMPANIES. Steel Co of Can: 433uc Republic Steel. Bankers' ... e 2 Do f 433 Foster-Wheeler Republic Steel p Brooklyn s 45 * | Thew Shovel of.."$1.15 Ll Reynolds Tob B ( Todd Shipyards. ... S0c ox Film (A) - Union Twist Dri Royal Dutch of NY.. Cont. Freeport-Texas (2).. 4 2 - Corn _Exchange. 515 Rutland RRpf..... rauge il IR Empire Sonn Gen Am Tank Car4) 30 Safeway Stores (5) .. LA 5114, | Wistorein Pow 4 L' o | Wise : iy Mowls Uwkistiy Mative. ‘(i"" Asphait (1)..... =% 72 Safeway Strs pf (6). 3 Musutacinrers’” lnel.n 3 ve | 8% pf I Washington Gas Light 6s, Series A, Gen Baking (2)... 7614 Safeway Strs pf (7). New York.. S e R s B ™ b e G ) i St Joseph Lead (60c). g e , ngtor ; Exchs 3 StL-San Franciaco. 0 Organized 1879 | M. LEROY GOFF 1036 Woodward Bldg. Nat. 0340 Insurance Exclusively Over 20 Years . Perfection_Stove Public Sve NJ pf (5) Public Sve NJ pf (6) Pullman Corp (3). 3% Pure Oil 5c or 10c Per Day UNDER SUPERVISION OF U3, TREASU Public Sve NJ (3.40) S E e 0. 67 Pl et | Do 7% ’p NEW YORK, February 26 (#).—Over- | Pub S¢% of N H . the-counter market 3 Fashion Park Aspf.. 708 BANKS. BiE A 3o, A54TE +l+1 [ e NRLEaa-GnRRE GRE) At a 3 per cent level the discount rate is below the yield of most Govern- ment bonds at their present prices. Thus there is created a situation where the banks will be encouraged to buy Gov- ernment bonds, since they can borrow if necessary at the Reserve at a rate Jower than the bond yield. WHEN YOU INVEST IN OUR 6% FIRST MORTGAGES v = ‘lew Gas & Blec of Conn of 3175 D >0 DDODOOODOOOD DOOOODKRE LEOPOOOOOOOOOOD. separate §1,000 sales were recorded in Gen Electric (1.60).. BT this issue, all transactions being made Gen Elec spec (60¢) . ; S: Lni::;;:&r;_f“ at par. These bonds made up the Gen Food Corp (3).. 5 31 Savage Arm ‘ day's trading on the local board, with Gen G&E A (b6 % stk) 27 Schulte Retall Stores the exception of a small-lot sale in Gen Mills pf (6).. 14 Seaboard Afr Lin Potomac Electric 5!z per cent pre- 2 Gen Motors (2) 3 21y 2 21 m: Seaboard Of] .- ferred, which came out. ex-dividend, at Gen Motors pf (5) ... ; 5 Sk Smabolrd O oo 1033;, the same as other recent quo-| 28 Gen R '\\“-"wnlnlrrflé 21 5 5 Tk i tations. Gen HyBikpsl ot (5) 8 ’ - Sharon Steel Hoop. .. Commercial Credit Dividends. San Kaliactorien. .. Shattuck (F G) (1).. 4 Gen Theater Equip.. 1 The Commercial Credit Co. of Bal- Gillette Stf Raz(1).. NS nalan o simore declared a quarterly dividend of Glllette Saf R pf (5). Simmons Co. .. .. . y25 cents on the common stock, placing e 1t. 15l ;?uttltlg hmt;ney into active = B ’ _ circulation, with the proper protec- qulltable CO'Operatlve Bldg. ASS n er a Third tion of conservatively appraised im- JOHN, JOY EDSON, President WALTER S. PRATT, Jr, Secretary I of a proved Washington real estate, and Century for the use of the money you are paid this liberal interest. -~ ke $6,124,601.00 | Subscriptions for the 102nd Issue of Stock Being Received S|t Without a Gimbel Bros. Simms Petroleum. Sinclair Consol Ofl. Skelly Ofl. . Snider Packing..... % Socony-Vacuum (1). Solv Am pf ww(534) South Port Rico Sug. 4 Southn Cal Ed (2). 4 Southern Dairies(B Southern Pacific. ... Southern Raflway. Southern Rallway pf Sparks-Withington. Spear & Co 1st pf.... Stand Brands (1.20). Stand Brands pf (7). Stand Gas&E| (3%). Stand Gas&El pt (4). Stand Gas&El pf (7). SeommnEvlbauvmanana the stock on $1 annual basis, against Gimbel Bros p! $1.60 previously. The company also Glidden Co. . declared regular quarterly dividends of Gobel (Adolf). $1.621; on the 6!2 per cent first pre- Gold Dust (2%). ferred; 43% cents on the 7 per cent Goodrich (B F) | preferred, 50 cents on the 8 per cent Goodrich (B F) pf... Class B preferred and 75 cents on the Goodyear T & R (1). 83 Class A convertible stock. All divi- Goodyear 1st pf (7). dends are payable March 31 to stock Gotham Silk Hoslery of record March 11. Graham-Paige Granby Consol (50c). Heard in Financial District. Grand Silver Store: Local bond men were happy today Grand Union. ....... owing to the fact that yesterday wss :;rnnlm"}:l;\ Steel(2) the eleventh consecutive day in which s G:::Ill :\'fl‘r(h’mil: L}.(.’,) :Y-flnc:d‘ g e 1 Grigsby Grunow.... The latest review put’out by F. B. 5% Gulf States Steel XKeech & Co., is devoted to"the Glass- 1% 11 Hayes Body Corp. e I Cors. Eteagall bill and to conditions rd- 8% 6% Hercules Mot (80¢).. 2215 Stand Oil Calif (2). 8 8 ton, silver, cocos, :nwiru ber, 95 92 Hercules Pow pf (7). g l 84% Stand Ofl Exp pf (5). 2 May be purchased in amounts from $250 up. B: ¥F. SAUL CO. National 2100 925 15th St. N.W. Encourage the Saving Habit. There are thousands who can look back with satisfaction on the .4|l|'|1||H||m||H||m||'||||¥ adoption of the systematic savings plan of the Equitable. It has helped them to financial independence. 915 F St. 20 000 S | FEEFEIFFEFE o =419 & @3 SeSoenand 1 & & - THERE IS NO SUBSTITUTE FOR SAFETY ‘wheat and corn. 11% 10 Holand Furnacs (1), 25% Stand O1I NJ (12)...