Evening Star Newspaper, March 17, 1932, Page 14

TOPIG FOR BANKING | ~Prev 1932~ toe ESSAY ANNOUNGED == Low 24 18 A :,Contest Winners {o Be Given' Free Trips to June Convention. BY EDWARD An announcement of un to the junior ba of th2 made today by C. H. Pope. the District of Columbia Bankers ciation, who forwarced the subject of | the essay contest to Aubrey O. Dooley president of Was! Chapt American Institute of T banking students w on “What Are the Selecting and Trai in Or o ment and In The essa; bers of standing nected W’ of the ent Manage- | ment? conte: Association. ‘The winner three pla in the contest given free the annual convention of the Bankers’ Association to be held at Hot Springs, Va., June 9 to 12 Judges Are Bank Presidents. | v ad t (hrl ved the | = hook of | procee s must not .x-| ceed 3,000 wmitted | to M istart irtion yea by the bar has aroused es younger bar know the names cf the contestan til after the awards have been made. The subject this year is unusually broad and covers the work of ever partment of a bank How A. T. & T. Phone Stock Is Held. Amon and Sales— Dividend Rate. Abitibi Pwr & Paper. 1 2 24 ahamé uslly 2 18 18 Adams | = I Adams E Adams Millis (2). Affiliated prod 1.60 Air Reduction(t4%) u (50¢) v Corp. DL S0 ww ' $40 ww .. Allied Chemical (6). Am Fank Note pf (3) e (1.60) . Am Can Co (13) ‘orsn Pwr. . ren bw( srzn Pw(T)pf. m & For Pwr 2d of. Hide & Leath pf. Mch & Fdy 1.40.. Am Metal Co. . Am Metalspf....... Am Pwr & Lt (21). Am Radiator (40¢c) Am Republics Am Rollinz Mil - Am Shipbuilding (3 mit & Rfg(50c) m & Rfg pf (7). nuff (131 olv & Chemical. Foundry . Stores (1214) ) umatra Tob rel & Tele= (7). Am Tohaceo (16). ... Am Tolacco B (16).. 7) ter Whks (2) n ot er Anchor Cap (2.40) Archer-Daniels (1).. Armour of 111 (A). : Armour of 1 (B). Armour of 11 pf. . Arnold Constable. Associated Apparel.. Associated Dry Gds Atch To & San Fe(6) Atch To&S Fe pf(5). Atl Coast Line (4) Atl Gulf& W Ind pf.. Atlanti Atlas Powder pf (6). Auburn Auto (f4). In connection with the announce- | ment_that there are 10.000 holders of | American Telephone in Washir annual report are interesting. | In 1931 umber of stockholders in- creased f 7,604 to 644.903. The net gain of 77.209 was less than the 1930 gain of 97,893, bu lowance is | made for the i due to to the issuance of new shares to sub- scribers under the 1930 offer and to converters of the 10-year debenture 4s, | the gain was about cqual to the 1930 increase and exceeded tr g record for any other year by more ian 16 per cent. The steady growth in the company's stock list involves considerable shifting of holdings. Some investors sell all o a portion of their shares and othe purchase stock for the first tim» or add to their holdings. During the last year 159,983 new accounts were opened and 2.774 were closed Last year was the first since 1925 in which ‘sharcs registered in brokers’ names showed a net decline, falling to only about 4 per cent of the total out- standing stock, the lowest percentage sinc late in 1928. Two Local idends Voted. Dircctors of the National Metropolitan | Bank at their meeting yesterday de- clared a dividend of 5 per cent on the capital stock, payable on April 15. Books will be closed for transfer of stock from April 5 to April 14, both dates inclusive. The directors of the Merchants’ Transfer & Storage Co. have declared the regular quarterly dividend of $1.75 per zhare on the preferred stock, payable on April 1 to stockholders of record on March 21. Books will be closed from March 21 to March 31, both dates in- clusive. Dircctors of the International Match Cerporation have taken no action on the regular quarterly dividends of $1 on the participating preferred and com- § mon stocks, normally payable on April 15. Quite a little of this stock is held in Washington. Trading on D. C. Exchange. Sale cf $1,000 Washington Railway & Electric 45 ¢t 84 opened trading on ington Stock Exchange today. the session another transac- he same amount was recorded al Traction sold. ex dividend at a_small turnover. Thirty-five of Mergenthaler Linotype ap- on the board at 43. This stock selling ex dividend. mac Electric: Power 514 per cent d came out at 104's. In the J Chapin Sacks 8 d to the extent of | | New Exchange Member Elected. The Board of Governors of the Wash- ington Stock Exchange today admitte to membership Theodore T. Golden, who maintains an investment office in the American Security & Trust Build- ing The new member is a native of Penn- sylvania, and first came to Washington in 1911 as secretary to Representative Thomas 8. Crago of the Keystone State. He later entercd the Georgetown Law School, where he obtained three law degress, the third one covering the practice of patent law He became a member of the District Columbia ba 1919 and opened ate practice e in 1921. From to 1923 he was manager of the local office of the Great States Securi- ies Co. of Albany, N. Y Since 1023 Mr. Golden Washington correspond of Clarence Hodson & Co.. } York investment bankers. He a member of the Wash- ington Board Trade and a prominel Mason. He takes the seat on it change formerly held Morse, who i5 man stock exchange cffice of ney & Co. has been Banking Bills Approved. he House Ban 1 Committee has approved a bill which allows member banks of the Federal Reserve System (o use intermediate credit bank debentures as security ior their own 15-day promissory notes The bill also pro -at thess de- bentures may be used as collateral :e- curity for note issue. A further pro- vision allows the intermediate credit banks to do an acceptance busine { The House committee also approved a bill authorizing national banks to de- FOSU, bonds as collateral for State and | ocal government deposits. BANK CASHIER FACING EMBEZZLEMENT CHARGE | Epecial Dispatch to The Star. FRANKLIN, W. Va, March 17— Irving Ritchie, cashier of the closed Farmers' Bank of Pendleton here, was indicted Tuesday by the Pendleton grand jury on nine counts involving embezzlement and misappropriation of funds. Action followed an audit of the bank’s accounts by the State Banking Department, which, although only par- tially completed, showed an estimated $50,000 shortage Ritchie has been missing since Peb- ruary 1. He was located in Libby, Mont., where he had been visiting friends. Disratches from Libby said he expreséed surprie that he had been considered misc because he went to Libby to make p! for moving his Zamily there, ) 1, Aviation Corp (Del) . Baldwin Locomotive Baldwin Loco pf. Itimore & Ohio. 3 Ralto & Ohio pf. . 15 rser pf (6 1008 Sros. .. 100s 10s 208 ros pf (6! rosdall Corp Baybk Cig 1st pf(7) Bextrice Cream (4). . : Bendix Av: Best & Co Bethlehe: Bethlehem S Bohn Alumn & Brass 5 Bon Ami (A) (15)... 1 1% Booth Fish 1stpf.... 1 34% Borden Co (3). e 9 rg Warner (1) 16 Tin Mg (1) 41 8 B ratton(1). 2 4 Brockway Mot Trpf. 10s Man Tran (4) 46 68 BKlyn-Man Tr pf (6) 1% Bruns Term & Rwys. 14 10 Budd ( 2% Budd Wheel. 7% 3% Bullard Co. 30 51 Burns Bros pf.. 13 9% Burroughs Add(80c) 19 10'; Biers (AM).. 2% Calumet & Hecla 10 Canada Dry (1.2 107 4% Capital Admin (A).. 261 Case (J 1) Co : Case (J L) pf (T).... 70 Caterpiilar Trac (1). 7 ‘avanaugh-Dobbs.. 100s Cavanaugh-Dobbs pf 20s Century Rib Mills... 1 Century Rib M pf(7). 260s Cerro de Paxco (1) 16 : Certain-teed Prod. .. 2 Certain-Teed pf..... Checker Cab Mfgr. Ches & Ohto (23)... Chesapeake Corp(3). Chi Great West pf... Chi Mil StP & Pac... Chi Mil StP & Pac pf. Chi & Northwestern. Chi Pneu Tool. . ... Chi Rock 1 & Pacific. Chi R1& Pac 7% pf. Chickasha Cotton Oil Chrysler Corp (1)... City Stores. s Coc: ‘ola (18 . Colgate-Pal-P (2 Collins & Aikman Collins & Aik pf (7). Colonial Beacon. .... Colo Fuel & Iron. Columbla G&EI(b1% Columbia Carbon (3) 40 Comi Credit (1). .. 3 Coml Credit A (3)... Comcl Inv Trust (2). Comm Inv cv pf(es). Comm Solvi(60c). . .. Comwith & Sou(30c). Comwlith&Sou pf (6) Consol Cgr prpf 6% Consol Cigars pf (T Consol Film........ Consol Film pf (2).. Consol NY 4).. Consol Y pf(5) Consol Laundries(1) Consol Textile. Container Corp (A).. Container Corp (B).. Contl Baking (A). Contl Baking (B). ... Contl Baking pt (8 Contl Can (2%). Cont Insur (2.40). Contl Motors Contl Oil (Del) Corn Products (3)... Corn Prod pf (7) COLFIND, o oacinr o Cream of Wht(12%) “rex Carpet........ Cudahy Packing (4).. Curtis Publishing(2) Curtis Publish pf(7). Curtiss Curtis Wright (A) Tle Cutler Hammer. s Davison Chemical. Deere & Co pf (1.40 &RGWop!.. Diamond Match (1). Diamond Mtch pf 1% Dome Mines (1). Dominion Storesi1 Douglas Aircraft (1) Dresser Mfg B (2)... Drug Corp (4)...... Dupont de Nem (4).. Dupont de N pf (6) Duques Lt 1st pf ( [ 4% 104% 8T c Auto Lite pf(7) Electric Boat. ...... Elec&Musical Instru 15% Elec Pwr & Lt (1)... 61 c Pwr & Lt pf(7). 334 25l Elec Storage Bat (3) 105 100 dicott-John pf (T) 10 5% . 2% 1w 11% 9% Exchange Buf (2ic). 85 3% Fed Water Service A 2 11 Fed'd Dep Strs (80c) 20 Fid Ph Fire In(2.60). 90 Filene's Sons pf 615 . 12 Firestone T& R (1). 50% Firestone T&R pf(6) 4113 First Natl Strs (23) W Fisk Rubber. . 8 Foster-Wheeler. ... 15% Fourth Nat Inv 1.10. 23 Fox Film (A). 154 Freeport-Texas (2). ) 2% Gen Ami Investors. .. 61 49 Gen Am Inv pf (6).. 35% 28 Gen Am Tank Car(4) 18% 11 Gen Asphalt (1) e 0 = 150. pmm— B e an e B e Add 00 High Low Close. Chge. ! High. 2 “l_ THE EVENING STAR WASHINGTON, D. C., THURSDAY, MARCH 17, 1932 THE NEW YORK STOCK EXCHANGE Stockand Sales— DIt Add 00. Gen Dakin, ceene 12 208 Net. | - Prev 1932~ Low. 19% 11 en Bronze Gen Cigar (4). od Corp (3).. A (DG % StK) Zev pli6). ecA(T). As&ELPLA(S). Gen Mills (3)....... Gen Mills pf (6) Gen Motors (2) en Motors pf (5 en Printing In en Public Servy en Ruwy Siznal \ Gen Realty & ( Gen Refractories Gen Steel Casti ien Theater Equip illette Stf Raz(1) illette Saf R pfes) imbel Bros...... imbel Bros pf (1) Giidden Co. ... : Flsdden Co pr pf (7). ohel (Adolf) Jld Dust (1.60) oodrich (BF)..... oodyear T& R (1). Goodyear st pf (7). Gotham Silk Hosiery Graham-Paige. ..... Granby Consol Cop. . Grand Silver Stores. nd Union. g And Union pf (3).. ant (W T) (1) Northern pf th Ore ug pren). Funow reat Wn rigshy < Hahn Dep Hahn Dept § HalllWF) P Hanna pf Harh & Waiker (30 Hayes Body Corp . Hercules Mot (80c). % Hershey Choe (6) ... % lershey Choe pf 15. i i Homestake M 18 80.. . Houdaille Hershey. . Household Fin pf 4.2( Houston Oil. . Houston Ol (new). . Hudson & Man (314) Hudson Motor Car... 4 Hupp Motors 2 Tinois Cantral Indust Ravon (4). Ingersoll Rand (3).. Inland Steel (1)..... Inspiration Copper. . Ins Shares(Del) 0c. Insur Sh(Md) (28c). Interboro Rap Trans Interiake Iron int Bus Machine(n6) Int Carriers(a22tac) Int Combustion. Int Combustion pf Int Harvester (1.80). Int Harvester pf (7). Int Hydro E1 A (e2). Int Match pf (4).... Int Nickel of Can Int Nick Can pf () Int Paper & Pwr pf.. Int Shoe ( flver. ... ele & Teleg 5 Interstate Dept St 1t Investors Equity. . 30 Jewel Tea (4). Manville Johns-Manv pf (7). . 731, Jones & Laugh pf(7) nsas City Southn. r8% pf.. yes Wheel Kelvinator Corp..... 23 874 Kennecott Copper... 46 Kinney (G R) Co pf. 108 {resze Dept Store: 100s ) (1.60). 7 9% 1% Kreug & Tollm1.61. 321 18% 12% Kroger Grocery (1). 29 56t Tambert Co (8) 27 2 Lee Rubber & Tire. . 2 18 Lehigh Valley RR.. 7 244 Lehn & Fink (3).... Ligg & Myers B (15) : Lily Tulip Cup (1%) Lima Lecomotive Link Belt (1.20). Liquid Carbonie ( Loew's Inc (14). Loft Ine % Loose-Wiles (13). Lorillard (P) (1.20). Louisiana Ofl....... Lou Gas&El A (1%). Louisville & 3 Ludlum Steel . dlum Steel pf. McAnd & Forbes (2). McAn&Forbes pf(6). 10: McCall Corp (214)... Mclntyre Pore M (1) McKeesport TP (4). McKesson & Robbins McKesxon & Rob's pt Mack Trucks (1). : Macy (R H) (n2) Magma Copper(50c) . Manhat Elev gtd (1). Manhat Elev mod gtd Marine Midld(80c). . lin-Rockwell(1). Marmon Motor Car. . Mathieson Alkili (2) May Dept Stores 1.80 Maytag Co. E Melville Shoe (2). . Met-Gold Pic pf 1. Miami Copper....... Mid Continent Petm. Midland Steel Prod. . Mo Kan & Texas Mo Kan & Texas pf. Missouri Pacific Missourl Pactfic pf. . Mohawk Carpet. . ... Monsanto Chem 13 . Montgomery Ward. . Motor Wheel Mullins Mfg. Murray Corp Jash Motors (2).... sh Chat & StL... at Bella Hess. t Biscuit (2.80) . Nat Cash Reg (A) at Dalry (2.60).... at Dist Prod (2)... Nat Pwr & Lt (1). Natl Steel (1).. Nati Surety. atl Tea (60c {evada Con Copper - Y Central........ Y Chicago & St L. Y Chi & St L pf. Y & Harlem (5)... 4 H & Hartford. H&Hpt(7).. N Y Shipbuilding. .. Noranda Mines (2).. Norfolk & Southern . orf & Wes orf & Westn pf (4). orth Am Aviation.. or Amer (b10% stk) r Ger Lloyd m2.56 Northern Paeifie (3). Norwalk Tire & Rub. 5 OhloOll.. 5 1 Oliver Farm Equip.. 4% 1'3 Omnibus Corp. 213 1614 Otis Elevator (2 4% 315 Otis Steel... ] 5 950 = 19 0 2 10 23 13 19 = 21 BmaReen T5 113 Pacific Coast 3 2% Pacific Coast 2d pf .. Pacific Gas & El (2). Pacific Lighting (3). Pacific Tel&Telog (7) Packard Motor Car. . Paramount Publix. .. Pathe Exchange (A) Penick & Ford (1) Penney (J C) (2.40) Penn Dixie Cement.. Penna Rallroad (2 Peoples Gas, Chi (8 Pere Marguette pf. .. Pere Marquette pr pf 908 el 1 Petrol Corp of Am. Phelps Dodge Co. Phila & Read C&1.. Philip Morris&Co(1) Phillips Petroleum. Pierce-Arrow. . Plerce Oil. ... Pillsbury Flour (2) Pitts Steel pf 5% 3% Port Ric Am Tob(A) 9 Postal Tel&Cable pf. T4 Prairie Ol & Gas. . 6% Prairie Pipe Line ’ Net. Close. Chse. 18 104% + % 361 11 + 38 ) 1% 16 -1 2414 — 1932~ Stock and Sales— Low. Dividend Rate. Add 00. 377 Proct & Gamb (2.40) 11 Proc & Gamb pf (5). 208 cers & Refin. .. 1 Sve NJ (3.40). 20 ~Prev Hi i o < ' Public Sve NJ pf (5) 1 <J nf (6) 4 11 Oil pf (8)...... 1008 tv Bakerfes (2). 27 adio Corp. ... Radio Corp pf A Radio Corp pf B. <eith-Orp Ry C k Hostery. of. holds Tob B (3). 1001 Z rande Oil. aboard Air Line Seaboard Ol ars Roebuc econd Nat Inv pf Sencca Copper ervel Inc....... Shattuck (F G) (1) nion Oil pt. Consol Ofl. . r Ol pf (8) ¥ Oil pf ww. 311, 1% rling Secur (A).. 2313 20 Sterling Secur cv pf. 6% 5 Stewart Warner..... 15% 9% Stone & Webster (1). 13 @' Studebaker Co(1.20). 13'3 11 Superheater,Corp (1) % % Superior OIl. . . — 313 11% Telautograph (1.40). 25 1% Tennessee Corp..... 10 xas €O (1).vc.:2 o ox Gul Sulphur (2). Tex Pacific Land Tr. Thatcher Mfg Co Thatcher Mfg pf 3.60 Thermoid Co Third Avenue. .... Thompson (J R) (1). ompson Products. hompson Starrett. . Tide Water Asso Oil. Timken Roller B(Z 21y Transamerica Corp “WISE SPENDING” STUDY PROGRAM IS EXPANDING By the Associated Press More than 7,000 women's groups affili- ated with the General Federation of Women's Clubs, numbering about one- halt of the total enrollment of 14.500 member clubs are already actively par- | ticipating in the federation’s recently initiated “wise spending” gram. Reports received by Department _indicate movement is growi | women of the countr The principal objects of the study program are to give the more than 2,- 500,000 “purchasing agents of the home” a more practical knowledge of the relation between wise spending of ihe individual consumer’s doliar and national prosperity and to foster a bét- ter understanding between this im- pertant section of the Nation's buying public and the merchandising interests which serve them. SEAT PLEASANT BUILDING ASSOCIATION ELECTION Special Dispatch to The Star. SEAT PLEASANT, Md., March 17.— The officers and directors of the Seat Pieasant Building and Loan Association vere re-elected unanimously last night ai_its annual stockholders’ meeting. Those chosen were: George N. Pal- mer, member of the Democratic State Central Committee, president; Jeremiah J. Crowley, chief of the Prince Georges County police, vice president; Edward F. Roberson, secretary; George Orton treasurer, and State Senator Lansdal Sasscer, attorney. The directors are Palmer, Crowley, Roberson, Orton, Sass. cer, Judge John A. Schultz, William W. Bowman and Robert C. Kraft. An 8 per cent dividend on B stock and a 6 per cent dividend on C stock was_declared. The financial report of the associa- tion shows a $21,000 increase in assets and a $2,000 increase in surplus. the Commerce interest in this among the club- NEW YORK, March 17 (#.—The annual report of the Otis Elevator Co. for 1931, issued today, shows net in- come of $4.414,963 after depreciation and Federal taxes, equivalent after pre- the common stock. This compares with $7,265,050 or $3.44 a share in 1930. U. S. Leather Co. reports a net loss for 1931 of $1.109,076, comparing with a loss of $1,124,624 in 1930 Noranda Mines had 1931 net income of $2,237,041, equal to $1.06 a share against $3.842,116, or $1.71 a share, In 1930 Net profits of the Columbian Carbon Co. for 1931 were equal to $3.02 a share, compared with §5.04 a share in 1930. FOREIGN EXCHANGE. | (Quotations furnished by W_B. Hibbs & Co.) Nominai gold Selling checks today. $362's alte 39 1291 1396 : Bc 2380 e 26¢ R franc. .. 3c 19.37¢ drachma . l3c peseta 193¢ Vienna, schilling. ... 14.07c Budapest _rengo 17.49¢ Prague. crown (n 2.964c Warsaw. 2oty 1122 Copenhagen. ciown | 268 Oslo. crown 25.8c Stocknoim 26.8c Montreal, discount value London, . §4.8665 Paris, § Bru: pound Rome. Zuricl Athen Madr! m) crown 10747 High. Low. FINANCIAL Net. | —Drev.1932- Stock and Close. Chge. | Hi Low Dividend Rate. " Transue & Williams. Contl Corp. Crico Products(2% len & Co 3 ‘nd-Ell-Fisher (2). “n Carb & Carb (2).. In Oil of Calif(1.40) Inion Pacific (10) Init Aircraft....... nit Aircraft pf (3). nit Biscuit (2 nit Carbon. . nit Cigar Store: nit Corp (40¢) .. “nit Corp pf (3) 3 al nit Fruit (3) ] <&Im(1.20) ypsum S Indus Alcohol S Leather (A).... S Pipe & Fdry (2). S Pipe& Fy 1st 1.20 ealty & Imp. S Rubber 5 Smtg & Ref (1). oel (2) U S Steel pf (7). United Stores (A) Inited Stores pf (4). Util Pwr & Lt (A). « Vadsco Sales Corp. nadium Corp..... r Chem 6% f. Va Car Chem 7% pf. ' Va Elec&Pw pt (6).. Va Iron Co & Cok pf 29 « Vulcan D'tinning (2) Wavash R I Waldorf Sys (1%) .. Ward Baking (B)... Warn Bros Pictures. Warren Bros 2 West Pa El pf . West Pa Pwr pf (6). West Pa Pwr pf (7) '; Western Dairy (A).. Western Dairy (B). Western Maryland. . Western Union (4) .. Westing'se Air ¥ « Westinghouse . Westinhse 1st (3%) Weston Elec (A) (2), 9 Westvaco Chlor 1.60. 12 '3 White Motor 15 White Sewing Mach. 5% 3% Wilcox Oil & Gas. . 20 20 Wilcox Rich A (2%). 3 1% Willys-Overland. 25 17 Willys-Overland pt 1% % Wilson & Co.. L 24 Wilson & Co (A). 45% 36% Woolworth (2.40).. 23% 1513 Worthington Pump 57 45% Wrigley (Wm) (4).. 10%; 8% Yale & Towne (1) 887 8 Sales— 2 s 4k 16 3w 2 27% Sl 13 5 174 9 10:30 1:30 D! paymen! *Ex-dividend extra. ¢ Payab’ stock. | m Paia 314 Yellow Truck. . 123 Ygstwn Sheet&Tube 6% Zonite Prod Corp (1) Sales of Stocks on New York Exchange. AM........ 200,000 P.M. 1,100,000 vidend rates as given in the above table ts based on the lates: B s Unit of trading less than 100 shares. 3Plus 4% in stock & Paid this yes 'a_in cash or stock. [ Pl 3 Plus 81 in special prete: last_year—no regular ra 8% in stock. stock. K Plis in stock. 600,000 1,400,000 wuarterly or half-yearly declarations. t Partly | DO regular rates | h Plus 2% in % in stoex. nPlus 8% 1o stock. » Plus S e STOCKSIRREGULR i': Some New Lows Registeaad Industrial Issues Continug Under Pressure. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, March 17.—The market today continued to drag at the lows of the present Losses were only fractional and thy 2lwere offset by a few correspont | gains. taking the list as a whol the hoped for rally failed to The new reduction in the Ba England rate to 3'2 per cent was n; e the market opened o but it had no influence in stocks. The controlling 1l the state of the lengthening list ductions and omissi nerease in volume, pri for many important stocks dipped new low poin In this group were General Motory R. H. Macy, both of which had nder severe pressure yesterday, n the railway group Pennsylvan: Chesapeake & Ohio and Southern Py cific. Omission of the dividend o Baltimore & Ohio preferred bmufi;d break of over three points in the and affected adversely the other ra: way shares Standard industrials were heavy most without exception. The one th: made the best resistance during morning was United States Indust Alcohol, up at _one time over a po On the other hand, Woolworth, whic] had been relatively firm in recent seg sions, reacted-to a .new low on th movement American Telephone { T aph did the same. United Statq teel fluctuated within a smaller ra but with an entire absence of buyi interest How great a played is impossible to say but tl market looked as if a good deal genuine liquidation was in progress, seemed to center op motor and railwi shares but extended in consideral degree to merchandising stocks, whiq | were affected by the unexpected cuy |in the Macy dividend vesterday. | Much interest was taken in the est] * | mates of income tax receipts, and tH 5 [ belief that the total would be muc 3 |under that of last year was anoth source of concern. It was not thoug! that the Federal Reserve Bank hen would make any change in its rag today. As a matter of fact the marl |is not now looking toward financial & much as business developments. factor short sellf U. 8. TREASURY BALANCE. By the ociated Press. Treasury receipts fof March 15 wen $1.077,717,406.51: expenditures, $604, $32,663.28; balance, 8735,3115“.3 | Customs duties for 15 days of cash | study pro- | Loafing Dollars d bank cre to Put vour cash into a “Metropolitan” Savings Account, and it'll be well em- ployed. We Pay Interest on Savings. Subscriptions for Baby Bomds Received Markets at a Glance | NEW YORK. March 17 (®.—Stocks | firm; rails rally from new lows. Bonds irregular; United States Governments advance.” Curb steady; early losses re- covered, Foreign exchanges easy; ster- | ling lower. Cotton steady: firm stock market; local covering. Sugar quiet; commission house buying. Coffee steady; poor spot demand. | ®CHICAGO. March 17 (#).—Wheat easy; disappointing _cables; easiness Northwest market. Corn easy: bearish Argentine surplus estimate: disappoint- ing cash trade. Cattle irregular. Hogs higher. i MONEY MARKET. | NEW YORK, March 17 (#).—A strong | demand for bankers' acceptances and the absence of offerings. today sug- gested that another cut in yield rates, | as a means of drawing out bills, might | | be forthcoming. No change, however, | | was made [ | Money was without important fea- | ture. The cut in the Bank of England | rate led to some conjecture as to whether the New York Reserve Bank | would also make another reduction. | Food Index Gains. NEW YORK, March 17 (#).—Brad- street’s food index registered $1.83 for | the week ended March 15, an increase lof 22 per cent over the preceding week's figure, and the highest since January 19 | —————— | Western Maryland Meeting. BALTIMORE., March 17 (Special). At the annual meeting of stockhold- | |ers of the Western Maryland Railway | Co. here yesterday the retiring Board of | ! Dirgctors was re-elected and the an- nual report of the president approved. | |U. 5. TREASURY CERTIFICATES | | (Reported by Chas. D. Barney & Co.) Rate—Maturity Oct. 15, 1932...... tes Aug. 15, 1932, June 15. 1932 ites Sept. 13, 1932 | 35" sept. 137 1932 3145 Dec. 15, 1932 | 334s Feb 1933 | 3345 Mar. 25" Mar. | | §888eEEE ferred dividends to $201 a share on | American Tel Amer. Wat. Wks. & EI Baltimore & Ohio 4135 1933 .. | Belding Hemingway Co. 63 1936 | Bethiehem Steel Corp. 551936 | Canadian Nor. Rwy. 4125 1938 | Cni Northwesiarn R. R.'3s 1933 | Chicago Rock Island 45 193¢ | Cleve. Lor. & Wheeling 5s 1933 | Colorado & ‘So. Rwy. 4138 | Commercial Credit Co. 5t3s | Belaware & Hudson Co. 35 | 1935 Beiver & hub Grende itss | Ben Mot Recen "8oro! o Genernt Betmicam Cors, 5 | General Public Service 5178 Grand Trunk of Canada s Houston E. & W. Texas 5s Humble Oil 5'2s 1932 - L: de Gas Light Co. 5s 1934. Gitvile & Kashville 5 1937 Now York Gent & K. 4s 193 New York. Oni & St 1 8s 1932 Northwestern Telep. 4':s 1934. Penna. R. R. Co. 6'2s 1936.... Portland General Elec. 55 1935 Republic Iron & Steel 55 1940 Sinclair Crude Oil Co. 5'a8 Soutnern Pacific. 5o 1934 St. L.IMS. Ry. R &G. 4s | Bhssn Blec, Lo & fox g Unton Oil Co. of Calif. 5s | Virginia Rwy. & Power 3s Wabash Rwy. Co. 55 1939 Oldest National Bank in the District of Columbia o no one any good. Planked in they strengthen the country’s dit, stimulate business, give work the idle. National Metropolitan Bank Fifteenth St. opposite U. S. Treasury INSURANCE STOCKS NEW YORK, March 17 (#).—Over- the-counter market: Aetna Cas & S. Actna Fire Agricultural Aetna Life .. Am_ Surety Balt Amer new Boston p City of N'¥.... Conn Gen Life ... Fid & Dep : Firemen's Ins Franklin Fire Glen Falls Globe & Rut Great Amer Hanover ... Hartford Fire . Home Ins | Kansas City Mass Bond ... Natl Fire Nor River new Prov Wash Phoenix 3 St Paul Fire Sun Life . Travelers SILVER QUOTATIONS. NEW YORK. March 17 (#).—Noon, | sales, 275.- | 000 ounces. Quotations in cents: March, July, 30.60 bid; silver futures barely steady; unquoted; May, 30.27 Septerhber, 31.10 bid; Octobe: PROPERTY Apartment House Asked | were $10,847,773.85. NEW YORK BANK STOCKS NEW YORK, March 17 (#).—Oven ked. | the-counter market: — Banks, % Big Asked 3 |cnase 39% 41 Commercial Natl 181 130 | First Nati N ¥ : Chem Bk & Tr | Cont Bk & Tr Corn Exch Empire Guaranty Irving Manufacturers ew_YOrk For Buying, Building or Refi- nancing Completed Properties. Prompt _Attention—Reasonable Rate Real Estate Mortgage and Guaranty Corp. 1510 K St. Nat. 1403 MANAGEMENT MANAGEMENT HERE are so many ways in which our Property Man- agement Service can be of as- sistance in assuming complete responsibility for your apart- ment house properties that it will interest you to confer with us as to what that Service com- prises and what you may ex- pect in results. B. F. SAUL CO. 925 15th St. N.W. MORTGAGE Nat’l 2100 LOANS NOTES Member of the Washingtom Real Estate Board H. L. Rust Company 1001 Fifteenth Street FIRST MORTCACE ONSISTENT earnings . . . a liberal yield with principal soundly secured; certain income; and never a deviation from the factors of safety that protect your investment. Permit us to offer our facilities for the placing of your in- vestment funds. National 8100